Buy Now, Sell Now. Before It's Too Late? (Toronto Real Estate Market Update)

[@Wolfpack1298--3]

House prices go up and down. It's a long term investment. You gotta at least keep it for 5 years and probably 10 years to get a real return. Don't get emotional about the boom and bust

[@johnf321]

Prices are flat ,sales are going down big deal if Prices were down, by.50,000 to 100,000 originally they were. Up 400,000 to 500,000 market is still overpriced minimum 30 to 40%.

[@quixomega]

If you look at the economy, the signs are very bad. I don't see where the money will come from to buy at these prices. I don't have a crystal ball but unless these trends change significantly it doesn't look good for housing prices.

[@baseline6786]

That's where ur trying to associate the Canadian economy and logic to real estate. U failed already. Bottoms in so what will viewers do from now till 5 months out when they realize best time to buy was 2024.

[@PastelP-b4u]

This is why I suggest your channel to those who insist on buying. Your advice is within the purview of a realtor, you talk about real issues buying and selling a home, not playing armchair economist/prophet explaining Tiff Macklem will or won't do like others on YT.

[@marcellod2257]

Realtors are desperate, 73 thousand realtors trying to sell the same house

[@raulsardinas2584]

on Sunday I went to an open house for a house that has been in the market for over 45 days. The asking price of 1.049M is quite higher than the actual value, I wouldn't pay more than 960K for it (unfinished basement/no renovations), but the realtor said that the seller won't take less than a million because the rates went down last week, and the market is now picking up because of that. I don't know if he was trying to lie to me, or if he really meant that, but I know it is a lie either way. 4 semi-detached houses have been sold in the entire neighbourhood of East Credit in October, the ones that costed slightly above 1M were recently renovated and had a full basement. This is an awful market. Only a few houses available and the sellers want to stick to a price that is unreasonable. Only people that really need to sell are selling.

[@fingersm]

Owners have the right to sell at whatever price

[@sanhtu77]

they dont owe their homes to you, got it?

[@raulsardinas2584]

@@sanhtu77 of course I got it, that's why they don't sell them, it is all I am saying.

[@butwhytharum]

@@raulsardinas2584 you shouldn't be offering more than 700k... What makes it worth 1 million? The mortgage the current owner owes? Hahahaha that's funny.

[@sanhtu77]

@@raulsardinas2584 some do sell. and if they dont thats their problem not yours.

[@Prediculous]

Buy outside the city where prices are down 40%. Work from home. Win.

[@butwhytharum]

my coworker is a broker and for the first 4-5 years working with him he kept pestering me to buy... now that the market is currently tanking i see him being stressed out about his clients... and asked him with a smartass sounding "what interest rates going up causing people to not buy?" we still havent hit that 5 year mortgage renewal mark from when interest rates going up. lots of people house rich cash poor. and soon enough just gonna be poor. no need for house/cash to be put infront of it. ill say it again i like your videos, explain the downsides of gambling with the banks money. not just "great time to buy" like that cokehead sinclair i see on tv with eyes wide open going "BUY BUY BUY"

[@fingersm]

Sinclair?? Who

[@butwhytharum]

@fingersm think his name is Tony Sinclair he's a regular on CP24 hot property. If you watch his commercial with the dog you see how fake the guy is... Can't even look natural petting a dog

[@stephenfermoyle4578]

you got the T-SHIRT!! ''Hey Folks''!!!! GENIUS !! BRAVO

[@BobSmith-bw6so]

Great video Santo. Keep up the great work

[@teamsessa]

Appreciate it!

[@neerajnarang2217]

The price is going to craaash crica 2008 purely bcoz of recession fear and bad monetary policy which would put more money in hand of consumers resulting in inflation, rents would go up, people would find it difficult to rent and buying investment property would be a catastrophe. Already you see the refinance second home are gone from the picture. US election are poised to have a major impact on the world economy

[@ZAHIR5776]

What will be 2.5% prime rate market will be in summer, there will be no affect or price will decrease as per Santos? I have been hearing for long time from Realtors buy/sell now, they always say buy/sell now, obviously it's there bread and butter. It's seems to me common sense to buy and sell in low rate environment.

[@quantumpeenapple830]

Buy now! Sell now! Market will never go down! Market is going to crash! People can say anything because they don't suffer any repercussions if they are wrong. First and foremost you should take a look at your own situation, weigh if it makes sense for you and aligns with your goals. Timing the market is a fool's errand and only the wealthy can play that game, for the average person a gamble like this can be sink or swim. There are so many factors that effects the market... 40 year amortization, AirBnB, CMHC, mortgage rule changes, pandemic, immigration, work from home, economy, interest rates, elections... heck even general real estate sentiment can tank or drive the market, it doesn't have to be logical.

[@syedarif5872]

Yes, this is one of the best reflective, realistic comment. Thank you for giving clarity to people like me.... !!!

[@CanadianRealEstateChannel]

Thanks for sharing these insights!

[@teamsessa]

My pleasure!

[@MauriceDeClerk]

how is the months of inventory dropping? I guess people are finally buying since the interest rate was dropped? This data is indicating we don't need further rate cuts and to keep QT steady! Sales are still strong somehow.

[@joanneesposito3295]

Inventory can also drop when sellers decide to take their homes off the market to wait for a better time.

[@rasimyurttas8187]

sell when everyone is buying and buy when everyone is selling... if you purchased a 850 sqf brand new condo 15 years ago for 300K with 20% down payment ; it was 1.2 million in 2021 and now it is around 1 million... so this is not a crash, this is a 700K profit on your 60K investment, almost 14X (assuming rent collected will cover 80% of your costs.) How long you need to work to make 750K net salary ? or what type of investment you can do to make 15X.

[@zevc3591]

Thanks! 👍👍 You probably meant October of 2024.

[@Carolinapetroska]

The only factor that can really make an impact on the market would be to let the foreign buyers come back, otherwise it will continue to be sluggish, just like the Canadian economy with a collapsed dollar....

[@adamspencer5142]

I think the bottom is only in when most new constructions are done, and not many new ones are due to be completed. This only takes into account that the population keeps growing, its not a certainty that it will continue, at least not in the same way. Values could stay down for 5 more years.

[@redeye1773]

250000 condos not selling 1in3 houses for sale no buyer's for 99% over appraised crap

[@bpd9660]

Dont buy anything in Toronto... prices headed much lower

[@marcuslatansa4202]

Market will correct at least 40%.

[@Carolinapetroska]

It's already down 30% or so for condos downtown....due to high inventory and lack of interest.

[@angelovirone-v8c]

Well said !!!

[@ihorrybak9455]

Buy Now, Sell Now..... Realtors always need money :)

[@hill4377]

Buddy. The market is finished.

[@elisabeth8512]

Who they take advice from is usually a Real Estate agent many of whom are useless, but many of whom think they are economists with all the answers; meanwhile, all you need to be an agent is a grade 12 education and some command of the English language and boom you're making $60K selling a property.

[@overthechemtrailsky5930]

i think peeps are done with million mortgages. for what? a yard? why do we always take our kids to the park then.