Housing market outlook amid first rate cut

Ross McCredie, president and CEO of Sutton Group Realty Services, joins BNN Bloomberg to discuss the Canadian housing market.
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[@dailydrivenmuscle.]

People are stupid for paying hundreds of thousand over what a house is really worth. Interest rates need to hold not go down. People need to be punished for there FOMO.

[@AmritBains28]

How are people able to get a mortgage for a 1.5M dollar detached home

[@ReliableRandy]

Yes I agree, but you better believe that they will do whatever they can to try and not make that happen.

[@jassi.s1977]

People don't understand recession cycles.

[@alexg9727]

@@AmritBains28 mortgage fraud

[@maxwellOk]

Because so many people overpaid for homes during a period when interest rates were low, I believe there will be a housing crisis because these people are in debt. If housing prices continue to fall and, for whatever reason, they can no longer afford the house and it goes into foreclosure, they will have no equity because they will not make any money if they sell. I feel that many people will be affected by this, especially given the predicted mass layoffs and fast rising living costs.

[@pauledwin]

I recommend investing in shares to balance out your real estate assets. Even the toughest recessions can give wonderful purchasing opportunities if you are prudent. Furthermore, volatility can create wonderful short-term buy and sell opportunities. Although this is not financial advise, you should buy right now because money isn't king right now!

[@ethancharles362]

Because of these market uncertainties, I was left holding worthless positions in the market in 2020, thus I don't base my market analyses and decisions on rumors and hearsay. I had to completely restructure my portfolio with the help of an advisor before I saw any visible benefits; I've been working with the same advisor and have scaled up to 750k.

[@andrewlogan7737]

I've recently considered chatting with consultants. I need direction as an adult, but I'm not sure if their services would be of much use.

[@ethancharles362]

Her name is Sharon Ann Meny can't divulge much. Most likely, the internet should have her basic info, you can research if you like

[@mikeharry96]

Thank you for sharing; I will need all the help I can get because I recently sold some of my assets in order to invest in the stock market.

[@bc5810]

Rates are going down, but fixed mortgages are not, so buyers won't return to the table. Listings may be at all time highs, but everything listed is overpriced or just plain awful.

[@glennevins5180]

That wasn't a rate cut, it was a joke

[@allworknoplay5515]

So close to moving out of Canada :( so sad how this country is being run from a financial standpoint.

[@nairnbaker7385]

They've been stress tested ... no worries. Sunny ways people sunny ways.

[@Roguerebel297]

5:00 what the hell was that question? Like yeah buy all the single family homes because it’s easier to squeeze kids and parents. This is why I don’t have kids

[@pauld3435]

This channel never talks about gold. Look at the charts folks its got no where to go but up. The dollar is done.

[@christinalem9836]

❤😂🎉v😢😮n😮m😅 1:01

[@JessT-vg7ib]

I've taken this time to read up on gender theory.

[@dirtlump]

It's most definitively NOT up to the BoC's Monetary Policy mandate to make any Real Estate product 'affordable' vis-a-vi median income servicing potential..... Full Stop !

[@adrianasher1457]

What about the fact rates were crashed by boc march 2020 and before that rates were extremely low for 15 years. Investing in Canadian re right now is a fools game. No profit to be made, only losses. Real estate will go back to what its supposed to be for, shelter.

[@MustyBastard]

poppycock

[@HDCanadianTrainVideos]

Any bozo that says you should currently invest in Toronto or Vancouver is over their head. People if they want to invest should be buying in Saskatoon. $400,000 for a newer house with a legal suite. $3500 a month in income, and the house value goes up 10-15% per year.

[@jeffotoole4509]

Down goes housing! Condo crash in full effect.

[@dwights1024]

tell me you have no clue about the real estate market without telling me you dont know, you'll go first :)

[@jeffotoole4509]

@@dwights1024 try to make a cohesive statement that is understandable and we can talk. What you just said made absolutely no sense. Probably like your knowledge of economics and cycles. We are going to have a condo crash of epic proportions that’s no doubt. If you have no stake in it then it means nothing. I am guessing you have a stake. Good luck with that.

[@rishi505]

JUSTIN. T is reason of all mess

[@citizenm9590]

Dude the PC leader owns multiple homes if you think JT is bad just way until you get thr oppestion gets in the office. Unless you are very rich the PC will hurt thr middle class