Great info. Would a mortgage renewal 101 video be very different in this current year? Should you take a fixed for a year since everyone is saying the rates will go down, Variable? etc.... Is your book "mortgage secrets" geared for 1st time homeowners, or is there tips to get the best rate for renewals in there?

Making accurate predictions for the housing market is quite a task due to the uncertainty surrounding the Federal Reserve's ability to effectively reduce inflation and borrowing costs. This delicate balance must be maintained to prevent a substantial decrease in demand from buyers, affecting everything from houses to automobiles.

Awesome breakdown! 👏

Thank you!!!! I appreciate you for putting this together to start my home buying journey

A house isn't the best investment, considering the state of the economy right now. After selling my Boca Grande house, I want to put $200K into stocks because they can still increase in value during difficult times. Do you have any great ideas for stocks?

Making accurate predictions for the housing market is quite a task due to the uncertainty surrounding the Federal Reserve's ability to effectively reduce inflation and borrowing costs. This delicate balance must be maintained to prevent a substantial decrease in demand from buyers, affecting everything from houses to automobiles.

Smart ones sold now at a small loss... later ones will sell at a big loss... esp Toronto which is recognized ized as the biggest bubble in the world, massive downward prices headed in the months and years to come ...

"There's always a book"

13:41 wait what?! B lender does not mean bank

Any recommendations for brokers in NS? Thanks!

Chaos for Boomers. Long-awaited Adjustment for the younger Generations.

What about the fact that there are hardly any single home being built vs townhome and condo in the last few years ? I already own a townhouse and in my market the difference has always been 100k-200k difference (double car garage) but the gap is getting wider fast in the last few year. the FOMO is that I wont beable to afford a double car garage single home with a decent lot in a few years.

Need a recommendation for a mortgage broker in BC

omfg. People nonstop complain "I can't afford a house", In under ONE MINUTE I am able to find THOUSANDS of move-in-ready really nice homes in Canada for sale under $150K. Over a thousand homes under $100K, some even $32K , 2-3 bedrooms, really clean and ready to move in. Even with 20% down payment, it will set you back $6500-10K at the most? Then your monthly mortgage at 4.5% is $142 to $250 per month max Last I checked, isn't that cheaper than paying rent? Here's the issue: People will look at these homes, in rural/smaller areas of Canada, then begin complaining over everything else but the fact that this is a ridiculously affordable home. So if that is the case, then keep paying your insane rent prices and STFU. My point is: You can keep listening to guys like this Nolan guy who will blab that things are horrible/worse/etc. Or you can stop paying insane rents...and BUY A HOUSE. I guarantee you, it will be the best decision you have ever made. Nolan, I am BEGGING you. Next time you are at someone's place that has a computer hooked up to the internet, ask them if they can help you use the computer...in the browser, do a search (they can help you) for houses in Canada under $200K. Your friend can show you all these homes for sale, then ask yourself: Are these homes move-in-ready? Ask your friend to them google this thing called the "Charter of Rights and Freedoms", look under section 6(2), I'll post it here incase your friend is too busy to help you: "(2) Every citizen of Canada and every person who has the status of a permanent resident of Canada has the right: to move to and take up residence in any province; and. to pursue the gaining of a livelihood in any province." There is NO EXCUSE not to own a house in Canada. ZERO.

Well said!

lol, TrueLand skipped the elementary math classes 😂😂😂😂

Interesting take! Thanks for sharing your thoughts.

I think they are doing this to buy boomer votes too even though its for first time buyers ....as boomers hold most of there wealth in there homes ...

Every time the GOV does something to make housing more affordable it does the complete opposite .....

If you are buying a 1.5Million property paying just minimum downpayment, you don't understand nothing about real estate. Nothing. The property of that value today is flat, maybe going a little bit lower. You are paying almost $10,000 taxes, mortgage interest in 30 years will be another 1 million. Where is your brain? Please work with experienced Realtors. Interview at least 5 agents and 5 mortgage brokers to understand numbers.

I'm so happy I made productive decisions about my finances that changed my life forever. I'm a single mother living in Melbourne Australia, bought my second house in August and hoping to retire next year at 43 if things keep going smoothly for me..

The liberals are sold out to big house building corporations and banks who will benefit the most out of this.

these rules are part of modern slavery squeeze as much money from the immigrants couples and who comes to canada and the forst thing in there head is house and Canada Govt exploiting this where as the generational Canadians are at ease to an extent as they already own properties but even there newer generation is also a victim seems like the slavery is still alive and well we have huge land in Canada why so hard to get a place to live or even rent wtf Canada should be the last place on earth where small Canadian population is suffering from housing crises this is all made up squeeze as much money in income taxes and interest and insurance the Typical 3 I's then there are fines on everything else this is not fair and Canada is doomed if they keep going on this trajectory CMHC is evil and is there to just take money and save big guys who are already charging humougous interst and the govt is charging huge property taxes as the prices goes up so are the property taxes so govt likes it

Someone said it's like Freeland opened a safe injection site for mortgage debt 😂😂

I love these rules. When I sell my condos for retirement I am going to make millions. My bachelor condos will soon be worth 1.499 and I’m going to make BANK. Thanks Trudeau. I’m going to keep voting for you because you’ve made me filthy rich.

I'm optimistic that people will be wise enough to NOT go for this bs. As a first time home buyer I am waiting with over 6 figures of my savings and 6 figures from my parents. People shouldn't buy in the next 12-18 months until things really go down like another 20-40%

The Trudeau years are a lost decade.

Never ever trust the people who caused the problem to FIX the problem!

As a future home buyer…. The little hope I had left for Justin is gone… what a dumbass ❤

Housing won't come down and stabilize till cost to build drops.

Yeah I feel like you’re over estimating how much buying pressure this is going to create. But maybe I’m wrong. Still doesn’t open up buying to the vast majority. Some very high income earners or wealthy family backed first time home buyers will benefit

I'm all for it! In voting liberal!!! Hone prices too the moon hahaha 🚀 👨‍🚀 🚀

We will own nothing and be (un)happy. And yet, people still vote for these WEF types. Moreover, it's gonna get worst with Marc Carney joining the Liberal psychocircus. Wake up!

Well done !! 100% correct and sadly Freeland , Milller, and Fraser must have slept through econ 101 ! Extra pain because these sugar / vote getter programs are hard to roll back .. adding price pressure for years. Canada is truly getting feudal ... young Canadians will become extremely burdened if they buy into this extremely overpriced housing market. I showed a young couple what $ 500k gets you in Texas .. they almost fainted. I also showed the better and less taxed salaries. Trudeau has truly gutted Canada. Australia same dumb moves.. When an average home is 10x average salary .(15x in Vancouver).. you've created hell !!! Balance immigration with housing drama teacher. In 50 years I have not seen such poverty, crime, and homelessness!!

Don't worry!!!! Life is going to be so much better with PIERRE POLYWANKER AND THE CLOWNSERVITIVES!!!! Maybe Pierre will buy 70 billion dollars worth of mortgage backed securities just like the Harper government did!!!! Responsible CLOWNSERVITIVE government????? 70 billion to keep the interest rates artificially low ( 2010-2015)!!! VOTE ECONOMIC IDIOT....VOTE PIERRE POLYWANKER!!!!!😮😮😮

Here’s wha a mortgage calculator spits out: On a $1.2 million dollar home with a 20% downpayment. Assuming mortgage rate of 5%. 25-year: Monthly payment: $5583 Estimamated total expenses: $6958 Total Interest Paid: $715022 30-yr: Monthly Payment: $5123 Estimated total expenses: $6498 Total interest paid: $884435 So in summary, you’re paying $170000 extra for 5 more years of borrowing in exchange for ~$400 less on each monthly payment. Good deal for the bank no doubt.

These rules changes are a late market desperation rug pull for dumb money. Smart money will accelerate getting out if not already out. Home ownership lifetime debt bomb is a nightmare for young Canadians. I personally have educated my children well and they understand the monthly payment trap.

It all comes down to the fact that most people who want to buy a home, whether it is first time or not, don’t have the capital or earning capacity to finance a home at the current prices. Take for example a person who needs to relocate from a lower cost city such as Edmonton or Winnipeg to Calgary or Vancouver. They have no chance of buying a home comparable to what they had. Interest rates and mortgage rules will not do anything to help them if they can’t make the payments.

🎯 Its smell stinks. Not increasing supplies and inventories, but only busy to increase demands; aiming to hike the home prices, bank profits, & tax intakes, even in recession!

What kind of magic wand that makes them think upside down way? Unrealistic, out of touch! Unconscience governmening!

Respectfully, I don't think house prices were going to come down. Crappy condos were falling, but detached house prices have been flat for about 2 years. Down 5% year over year is not significant.

I am at the beginning of my "investment journey", planning to put 85K into dividend stocks so that I will be making up to 30% per year in dividend returns. Any advice?

We are so screwed

@Nolan Like your take on this and how you seem to be in the middle between this benefiting brokers but also how it's impacting Total Cost of Ownership. We're all kind of shaking our heads right now from the juicing that's about to happen in the RE market. At 6:15 you said a really key point regarding people jumping into the market and picking up "Average" homes when the "average home price" is making up 90% of a Canadian's networth. It doesn't make any sense to risk that much capital in just one asset class. There's no DIVERSIFICATION of risk of ones wealth in CA anymore. RE is Canadian's "single stock" retirement fund.

Need to go out and buy high quality booze and Marlboro Red cartons of cigarettes and neither drink the booze nor smoke the cigarettes. You'll thank me later trust me😊

You will own nothing and be happy; actually looks like a real policy the Trudeau Libs are implimenting

Great video, it's just missing the true explanation part. "You will own nothing and be happy"

Legalize drinking and driving and Nolan will vote yes !

Maybe the liberals are lighting the economy on fire so the Conservatives fail? This is nuts. We're setting up for a drop, and then sudden increase in interest rates. We need to take the medicine for the full term if the prescription. Same people budding for the same number of homes with the same monthly income means we'll squeeze out poorer established families by appealing to [relatively] wealthier young people, by saddling them with long term debt. And the only people to benefit are the banks, and those already hiding real estate with no pressure to sell/move.

There are no detached homes under 1.5 million in Vancouver except for condos. And that is for a teardown. Anything liveable is over 2 million here.