Canada's Housing Market Is About to Flip! (Interest Rate Cuts)

In this video, we speak about interest rates being cut throughout 2024 and a bottoming Canadian housing market. Enjoy!
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Video Chapters:
0:00 - Intro
1:45 - Individual Markets
4:28 - Housing Affordability
#mortgages #housing #canada
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[@GriffinMilks]

Do you think interest rates could be cut as soon as mid 2024? Comment down below! 📈 My FREE Stock Market Investing Course (Previously $200): skl.sh/3ODk1tN 🏘 My Real Estate Investing Course (ON SALE!): www.udemy.com/course/creating-wealth-with-real-estate-investing/?referralCode=22FE3C232997364F732A -Griffin

[@Eason-h7f]

Hit $200k today, Thanks for the knowledge and nugget you have thrown my way over the last month , started with $14,000 in last month 2024....

[@matthewbrown9796]

Turning 30 this year. My mortgage went up $852 when i took the new rate (bought in 2019). It caused me to have to sell as I've had 2 kids in that time and we are down to 1 income. Of all of my friends, I am the only one who could afford 2019 prices. If prices increase, not a single young person i know will ever buy a home. Rates aren't the issue, though they impact affordability. Rates change, as I've learned the hard way. The price needs to change. I don't see how it can though.

[@GriffinMilks]

Unless there's mass defaulting at once, which I don't see happening, prices won't come down in a significant way more than they have already.

[@matthewbrown9796]

@@GriffinMilks I agree. It just means home ownership will no longer be attainable to MOST people. Multiple generations where you are not defined by how much you make but by what you stand to inherit. Sickening

[@alexg9727]

@@GriffinMilks you mean a mass exodus of immigrants. 1M people coming here is the only thing causing excess demand

[@cclcanadiancountrylife3628]

Just sold a property building lot outside of sudbury. Only 5K under asking, and I had it listed for 2 1/2 weeks. There was a lot of interest in it and had multiple offers. February but the market is already hot. We’re not even in the spring rush yet.

[@GriffinMilks]

Demand is definitely still there despite rates remaining high. Thanks for watching and commending!

[@cclcanadiancountrylife3628]

@@GriffinMilks huge fan of your videos been following for a while, finally had something of value to comment. 👍

[@russtyruss_i-Invest]

It's somewhat a seller's market. We are listing in a week or two after 6 years owning and renovating, but we aren't selling because of incapacity to afford, although we couldn't afford to keep it because of our primary reason, we're selling because we bought a lot two years ago in the prospect of building auto-construction and new. So, owning this one and building at the same time is not possible unless the stock market brings back some rewarding profits we lost over the last three years. We'll be renting until we can move in. Rents are crazy, even in the outskirts of Montreal. We're in St-Hyacinthe, looking at rentals between here and the lot in Magog. We did rent a locker for cheap though, was in fact really surprised at getting it at the price we did. Hopefully, we'll be able to cover some of our renting costs by placing our capital from the sale at a 5%+/- interest rate savings acct. Cheers!

[@charronfamilyconnect]

So is now a good time to buy in the nations capital and what about Gatineau Quebec?

[@reefermadnesss]

Most people haven't renewed into these higher rates. Canada's economy is showing many signs of weakness. Patience.

[@GriffinMilks]

It's true that a lot of people have yet to face a mortgage renewal at mostly higher rates, as spoken about in my recent video on the topic: kzbin.info/www/bejne/b2msk52co5JgpKs That said, I believe most people will do everything in their possible to hold on to their properties and most likely be faced with lower rates than expected when renewing in 1-2 years. We'll see. Gatineau is always cheaper than Ottawa

[@charronfamilyconnect]

@@GriffinMilks I wonder when the boomers will cash in their high maintenance cash cow single homes in droves either to go in an old age home, down size or simply by dying

[@josephparrotta1159]

It's cool, let's just keep going and see how our country fares while most people can't afford to live in it. Nothing bad ever came from that, right?

[@GreenBeanGreenBean]

prices go up because cost of construction of new stuff keeps going up, not because it's magically levitating. If cost of construction was low, then there would be large $$ building millions of homes to capture the profitability spread.... guess what, nobody is building because its not profitable to do so.

[@josephparrotta1159]

​@@GreenBeanGreenBean not sure why you're saying this but it has very little to do with my comment other than explaining obvious things.

[@reefermadnesss]

​@GreenBeanGreenBean please explain why some provinces still have affordable home today.... how can they build them this cheap when costs aren't that much different for materials and construction trades wages???

[@GreenBeanGreenBean]

@@reefermadnesss if you think you can do a better cheaper job............... there ain't nothing stopping you from starting a company and building a bunch of houses and raking in those 'windfall' profits ain't nobody building right now so that should tell you something.... even with prices/rents sky high.

[@reefermadnesss]

@@GreenBeanGreenBean I just asked a simple question, which I guess you have no answer for.

[@vicgill1980]

I bdrm in London ON is $1800 on average

[@morimoko]

yeah it's fucking great. great economy management by everyone involved.

[@GriffinMilks]

That's brutal

[@ihor4256]

house prices will dip 10% by September

[@T.dot.]

Bottom was dec 2023

[@GriffinMilks]

Been stable for a coupe of months, yes! Thanks for watching

[@karlroth7082]

Nope. Interest rates are going up. Let’s see how that will effect debt holders.

[@WizardHarry69]

Why would they go up? Inflation is within control now.

[@GriffinMilks]

I highly doubt rates will go up again. All mortgage professionals are pointing towards lowered rates.

[@user-kv4kp4co1r]

I respect your videos. However, I disagree with your oversimplified view of the current situation in Canada. Canada has enjoyed high levels of immigration in recent years. Now Canada's overall image as a great country for immigration is undermining and it will affect every aspect of Canadian life. Canada's economy has stretched itself to a breaking point. No one is exempt from this situation. The fire will spread to education, housing, investment, grocery, telecommunications, retail, restaurants, everywhere.

[@TT-fq7pl]

The Apocalypse is here! Better buy tinned goods and get to your bunker. We're all doomed! Doomed, I say!!!! Better just to stay in bed and off the Internet.

[@user-kv4kp4co1r]

@@TT-fq7pl You probably have no idea what it's like to be in an extreme affordability crisis. Enjoy your time until it comes to you.

[@TT-fq7pl]

@@user-kv4kp4co1r Parents grew up in the Great Depression. I was raised on principles of thrift, community, and compassion. I have three children and naturally I'm concerned about the future. But I have little time for the relentless doomsdayers who, because time keeps marching on, will eventually be proven right. Great. Won't we all admire you for predicting terrible things to happen? What possible benefit does such negativity have?

[@user-kv4kp4co1r]

@@TT-fq7pl I can tell you one thing for sure, some of your grandchildren will never get out of their parent's basement. Inequality and wealth concentration at its best.

[@TT-fq7pl]

@@user-kv4kp4co1r Young fellow, there's nothing you can tell me about injustice or about the evils of wealth concentration. Been fighting it all my life. It's channels like these, with young people who are more conservative and reactionary than an 80 year old, that really depress me. But depression helps no one. Nor does despair. If everything is going to get worse, then fight back. And remember, the world has always been this way, and we always need to maintain our dignity and our courage when we fight for our basic rights.

[@abcdedfg8340]

Do you want the housing market to go up? Real estate mortgages and rents are gutting every other sector of the economy and driving even middle class people into poverty like conditions, not to mention the poor being thrown onto the streets. Just my opinion.

[@stephenn88]

That is the only thing Canada has

[@morimoko]

absolutely, we need 100% value increases every 4 years like we've had, fuck everyone else, definitely nothing bad will come of this.

[@GriffinMilks]

I'm not saying I WANT prices to go up. I'm just saying it how I think it will play out... Thanks for watching

[@abcdedfg8340]

​@@GriffinMilks​​Demand isn't there anymore. Renters are refusing to pay market rates now. People are waking up to reality that even many middle-class people are being forced into virtual poverty by rents and mortgages. I think canadians and other residents have had enough and are going to make this a huge issue to fix asap. Just my opinion.

[@griffinmilksenfrancais]

🎉🎉

[@satguruwaheguru7061]

No

[@GriffinMilks]

:)