People are still losing on Ontario cottage sales: Muskoka realtor

Рет қаралды 109,485

Күн бұрын

It’s really a tale of two markets in Ontario cottage country, that’s according to John Fincham, Broker, Re/Max Parry Sound Muskoka Realty. He joined BNN Bloomberg to discuss the selloff happening in the Ontario cottage markets, and while the luxury market is telling a different story he says summertime might bring some compromise.
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Пікірлер: 65

@sharinglungs3226 8 ай бұрын

Crazy to think under $3m isn’t part of the luxury market for cottages. Central bankers really screwed up the money supply.

@Fluterra 6 ай бұрын

$3M buys you nothing nice in the big 3 Muskoka lakes. Nothing to do with the “money supply” or central banks - it’s simple supply and demand.

@parthppatel28 8 ай бұрын

NEVER trust a Realtor for his forecast. Only use them for carrying out the buying and selling process properly. Their job is to only do the buying and selling process. THEY HAVE ZERO CREDIBILITY FOR OPINION OF WHAT MARKET MIGHT DO..

@Stormshfter 8 ай бұрын

Why do people think that Realtors are non bias financial advisers? Lol

@compytv8636 8 ай бұрын

This interview is from last year in fall

@Fluterra 6 ай бұрын

@@compytv8636no, this video is from the time you wrote this dumb comment.

@Fluterra 6 ай бұрын

Yeah, but this realtor knows his stuff

@menguardingtheirownwallets6791 8 ай бұрын

"Wait; a small cottage on a lake for only $147 million ? That's a bargain, I'll buy 6 of them." That seems to be the mentality of Canadians viewing real estate.

@PlayMyMusicPlaylist 8 ай бұрын

Most realtors are not economists or engineers. Prerequisite degree is a must for realtor. I knew a weed dealer and a parttime dj became realtor, they r good at talking.

@w.s.2102 8 ай бұрын

"2 different buyers".......one of the hallmarks of an authoritarian society

@mediaburn2 8 ай бұрын

If you can work from home, you can get half off going a bit further north or to QUE.

@onecoolstorybro 7 ай бұрын

Ya but quebec has french people

@siddiqze 8 ай бұрын

Something does not add up. I think he is not stating the facts as people were over leveraged and buying cottages when interest rates weee low. Due to pandemic people were working from home while now employers want their employees in the office.

@dougreed736 8 ай бұрын

He's uplifting his market. His area is 3 million plus

@Fluterra 6 ай бұрын

He said that. It adds up.

@leinad5243 8 ай бұрын

Big demand by realtors working from home...sry gravey train is gone..time to look for a real job...how about Cuddler..agents have the skills 100 $ per hr ...not bad

@KennethYimHomes 8 ай бұрын

Back to English class you go

@kevinc1851 8 ай бұрын

We listed our cottage in 1990 for $200,000 it sold in 1994 for $120,000. History may not repeat but it will rhyme.that same cottage is valued around $750,000. We have a long way to fall, I figure it will be $300,000 - $400,000 in 5 years.

@onecoolstorybro 7 ай бұрын

1990, 1994? What are you event talking about, do you realize the money supply 30 literal years ago was less than 1/10 of what the money supply is today? Money is devalued, not only will prices not drop, they will keep rising as your dollar buys less each and every day. That's why a damn package of bacon is $12 instead of just $4 a few short years ago. And im curious how much that bacon was in your 1990. Likely $2. Do you think bacon prices will drop too?

@nilnil7325 7 ай бұрын

@@onecoolstorybro You brought up valid points but you can communicate those point just as effectively without being condescending and rude.

@onecoolstorybro 7 ай бұрын

Sure, but this is the internet, ser.@@nilnil7325

@rosieone5670 7 ай бұрын

If you treat the real estate market like the stock market, what do you expect ? Have you noticed a reduction in commissions from the brokers to help ease the pain of your losses ? Did you apply for the Cottage Life Investment Loss Grant to assist new buyers adjust to investment loss syndrome ?

@ryansutton5904 8 ай бұрын

This is just start It will move from recreational to primary residence this year and it all boils down to one thing average income does not equal asking prices it's known as peak real estate or the world's largest real estate bubble.

@douglasthompson9482 8 ай бұрын

Many of these expensive cottages are not worried about interest rates. They have the cash.

@ericwhitlam7517 8 ай бұрын

Was a house for sale where I live on the Bruce peninsula which is cottage country it was on the market for the last year and was talking with the owner and she said it went below what it was listed for said she had to cut her lossesWas on the market for around 550,000 and it is a nice looking place

@klausr3581 8 ай бұрын

What WFH job covers a $2million cottage at 5%? Doesn't add up

@bgrelek6311 8 ай бұрын

most wealthy people make most of their money from investments and assets, not their income from a job lol

@Fluterra 6 ай бұрын

Not your job, apparently.

@stephenwinter8892 5 ай бұрын

Greetings from lake of bays my family has had a cottage in the same family for 80+ years and when my grandmother passed away in 1998 she left a trust fund of $200,000 so I could maintain it and being single white man I enjoy my 6 seasons there thanks for the presentation

@leinad5243 8 ай бұрын

The graph shown displayed - 30 % ...then he says 11 or 20% lol😂😂😂😂then gives -40% example...probably sold cause house was on chopping block..probably listened to some knuckled head realtor in 2021

@NotTooExtreme 8 ай бұрын

Why would it be surprising for luxury? Rich gets richer and poor gets poorer. Middle class is also getting poorer.

@BellaBella-jw9ef 8 ай бұрын

He looks really enthusiastic and upbeat about the cottage market 😂

@fernandop4393 8 ай бұрын

😂

@tommywong3147 8 ай бұрын

Why goto muskoka when u can goto mexico or jamaica

@sharinglungs3226 8 ай бұрын

Because you don’t have to fly and waste time in airports. I see cottages as something to do on the weekend. Go up on Friday and come back on the Sunday evening. Even better when you can go for a long weekend.

@nairnbaker7385 8 ай бұрын

If you don't want to go to Mexico or whatever that year you don't have to. Cottage has to be maintained and constant drain of money.

@Carolinapetroska 8 ай бұрын

Lock down from the government.... Unnecessarily closing the borders and punishing people for traveling.. That's the Canadian dictatorship.

@bobloblaw1720 7 ай бұрын

You won’t kidnapped or murdered in muskoka.

@barrybrand2970 8 ай бұрын

There dosen't seem to be a wealth transfer in Canada EH!

@dougreed736 8 ай бұрын

The only people upset are the ones who purchased since covid. Everyone else's is making more money or sitting on money. Future cottagers are upset at inflation butbthats a given. They want a deal and need a deal to have that lifestyle. That hardly ever happens. When i purchased 10 years ago. I was shocked at the increased prices now is the same. Covid was a factor but only for people who purchased in the last 3 years. The rest are happy either way.

@leinad5243 8 ай бұрын

😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂 BS baffles brains...sales are down and inventory is way up

@danielli4828 8 ай бұрын

What's the point to live in a cottage?? You should just need a camper and go for travelling and stay in camp ground. It s a waste of land by making cottages

@BEYONDYOURIQ 8 ай бұрын

Looks good on these yuppies

@Carolinapetroska 8 ай бұрын

Stupidity has its price ! Lol

@belle190 7 ай бұрын

This guy is so FOS. We have been looking for 4 months now in that area and wow the asking is ridiculous due to the age and septic tanks well over aged oil tanks cisterns so old. And the new scam about taxes if your waterfront being charged for each doc in the water.