Canada’s real estate correction is far from over: Oxford Economics

[@nicolasbenson009]

It is difficult to make exact projections for the housing market as it is still unclear how quickly or to what degree the Federal Reserve will reduce inflation and borrowing costs without having a substantial negative impact on demand from consumers for anything from houses to cars.

[@KarenLavia]

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[@ScottKindle-bk3hx]

I’m intrigued by your experience. Could you possibly recommend a trustworthy advisor you've consulted with?

[@KarenLavia]

Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Margaret Johnson Arndt for the last five years or so, and her returns have been pretty much amazing.

[@Suleferdinand]

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[@taoliu2920]

My painful experience during the past 15 years: if you trust those so called experts or economists or institutions forecast of a monster crash or deep correction, you will never ever materialize your dream of house ownership. It is very painful. It hurts me economically and emotionally.

[@Lemariecooper]

I wonder if individuals who went through the 2008 financial crisis had a relatively less challenging experience compared to what I am currently facing. The current market conditions are causing significant distress for me. Specifically, my portfolio has suffered a loss of over $27,000 in just this month, and my profits are diminishing. This situation is raising concerns about the potential impact on my retirement plans, as I am unable to increase my stagnant reserves.

[@JanetHynes]

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[@Headinavise]

I worked in Northern Alberta and met newcomers to Canada. About half of these workers I met were from mostly India. They all live in houses with other families. Often 2 to 3 people contributing to a mortgage that use to be one family. Canada is gone and we will never get it back. I never thought this would happen in my lifetime.

[@marksmith6787]

Yes and this is one of the reasons why the prices rise. Because 3 families can afford to buy the 1.5-2 million dollar home with the 6000 a month mortgage. Long time Canadian citizens do not live like this. If an individual doesn’t own a home now they will be forced to live like this in the future, unless they take proactive measures for their kids now, and buy into the market and get them a home for their future. Instead of paying for college or other things, buy them shelter so they can have a good place to call home.

[@marksmith6787]

@@oz6123yes. I have seen it being done in Kelowna bc now for 10+ years. Gotta buckle down and be smart to secure your future. If prices drop what this guy says I will be buying another home.

[@dougreed736]

When Trudeau got in, I was fairly sure canada was on its way out.

[@Mehmed317]

Three families per one household, 35% percent Canadians don’t have mortgages, 30% have mortgages but 20% of those have locked in mortgages till 2025. Must have been good Mary Jane you had before the interview

[@johnnycroat]

@@oz6123 plus the older family members receiving Pension from the govt

[@Moonmaster85]

Having a 6 figure income like myself where I basically take years off my life doing rotating shift simply isn't worth the time or money in this country when basic home ownership is out of the question. The societal contract here has been broken and will lead to more ppl leaving the country

[@donm2067]

MAD shifts take an average of a decade of your life.

[@Moonmaster85]

@donm2067 yup figure I'll stick it out for 1 more year been doing it for 8, I work with guys who have done rotations for 20 years, no idea how they managed it

[@artwelld1235]

Hi Guys, Please let’s gather this coming Wednesday August 9th for our regular outdoor soccer practice Starting Date : May 21st Ending Date : TBD Time: 6pm Venue: 500 THE EAST MALL ETOBICOKE, ON The Team Manager Habib to update you on the summer program with the tournaments and friendly games. Stay tuned!!!!!! NB 1: Bring jerseys, outdoor balls & soccer shoes NB2: Bring any refreshments you’ll like to share with the rest of the team *Please be on time due to early sunset* KapiHi Guys, Please let’s gather this coming Wednesday August 9th for our regular outdoor soccer practice Starting Date : May 21st Ending Date : TBD Time: 6pm Venue: 500 THE EAST MALL ETOBICOKE, ON The Team Manager Habib to update you on the summer program with the tournaments and friendly games. Stay tuned!!!!!! NB 1: Bring jerseys, outdoor balls & soccer shoes NB2: Bring any refreshments you’ll like to share with the rest of the team *Please be on time due to early sunset* KapiHi Guys, Please let’s gather this coming Wednesday August 9th for our regular outdoor soccer practice Starting Date : May 21st Ending Date : TBD Time: 6pm Venue: 500 THE EAST MALL ETOBICOKE, ON The Team Manager Habib to update you on the summer program with the tournaments and friendly games. Stay tuned!!!!!! NB 1: Bring jerseys, outdoor balls & soccer shoes NB2: Bring any refreshments you’ll like to share with the rest of the team *Please be on time due to early sunset* KapiHi Guys, Please let’s gather this coming Wednesday August 9th for our regular outdoor soccer practice Starting Date : May 21st Ending Date : TBD Time: 6pm Venue: 500 THE EAST MALL ETOBICOKE, ON The Team Manager Habib to update you on the summer program with the tournaments and friendly games. Stay tuned!!!!!! NB 1: Bring jerseys, outdoor balls & soccer shoes NB2: Bring any refreshments you’ll like to share with the rest of the team *Please be on time due to early sunset* KapiHi Guys, Please let’s gather this coming Wednesday August 9th for our regular outdoor soccer practice Starting Date : May 21st Ending Date : TBD Time: 6pm Venue: 500 THE EAST MALL ETOBICOKE, ON The Team Manager Habib to update you on the summer program with the tournaments and friendly games. Stay tuned!!!!!! NB 1: Bring jerseys, outdoor balls & soccer shoes NB2: Bring any refreshments you’ll like to share with the rest of the team *Please be on time due to early sunset* KapiHi Guys, Please let’s gather this coming Wednesday August 9th for our regular outdoor soccer practice Starting Date : May 21st Ending Date : TBD Time: 6pm Venue: 500 THE EAST MALL ETOBICOKE, ON The Team Manager Habib to update you on the summer program with the tournaments and friendly games. Stay tuned!!!!!! NB 1: Bring jerseys, outdoor balls & soccer shoes NB2: Bring any refreshments you’ll like to share with the rest of the team *Please be on time due to early sunset* KapiHi Guys, Please let’s gather this coming Wednesday August 9th for our regular outdoor soccer practice Starting Date : May 21st Ending Date : TBD Time: 6pm Venue: 500 THE EAST MALL ETOBICOKE, ON The Team Manager Habib to update you on the summer program with the tournaments and friendly games. Stay tuned!!!!!! NB 1: Bring jerseys, outdoor balls & soccer shoes NB2: Bring any refreshments you’ll like to share with the rest of the team *Please be on time due to early sunset* KapiHi Guys, Please let’s gather this coming Wednesday August 9th for our regular outdoor soccer practice Starting Date : May 21st Ending Date : TBD Time: 6pm Venue: 500 THE EAST MALL ETOBICOKE, ON The Team Manager Habib to update you on the summer program with the tournaments and friendly games. Stay tuned!!!!!! NB 1: Bring jerseys, outdoor balls & soccer shoes NB2: Bring any refreshments you’ll like to share with the rest of the team *Please be on time due to early sunset* KapiHi Guys, Please let’s gather this coming Wednesday August 9th for our regular outdoor soccer practice Starting Date : May 21st Ending Date : TBD Time: 6pm Venue: 500 THE EAST MALL ETOBICOKE, ON The Team Manager Habib to update you on the summer program with the tournaments and friendly games. Stay tuned!!!!!! NB 1: Bring jerseys, outdoor balls & soccer shoes NB2: Bring any refreshments you’ll like to share with the rest of the team *Please be on time due to early sunset* Kapi

[@donm2067]

@@Moonmaster85 the old timers are fvcking idiots, but they also go paid more and had better pensions/benefits.

[@cdnhey]

Well said that’s the truth right there

[@harrisonopare4851]

These were the same people who said a year ago we would see Rate cuts close to end of 2023...these people have no idea what's going on

[@JonnyZuccs]

Cope

[@sharinglungs3226]

We’re not in recession yet. Playbook is to cut in a recession to pull us out but they’re not done fighting inflation.

[@danawc5595]

Media and government CAN’T BE TRUSTED PERIOD!!!!

[@montrose699]

That's for sure. It's crazy low rates for a historical long period of time that put us here. Investment purchases have never been so hi as the last 10 years.

[@stevegaspar5191]

This guy must be a Trudeau Liberal advisor because he is so dead wrong and off base it isn't even funny. No mention of 1.2 million population growth the last year and even higher numbers to come. Housing inflation has to continue based just on immigration policies vs housing starts which will fall even more with higher rates for longer. People who can - will pay for a roof over their head somehow. Rents are so high that being a landlord is very lucrative and rents will get even higher and people will move even more than in the past for economic survival.

[@kaitlyncranwick]

I remember in 2007 when I was working in real estate seeing people buy homes new from builders with the intention of selling before close of escrow to a new buyer for profit. The crash was so brutal and fast that I remember seeing a lot of these units foreclosed on with the builder plastic still on the carpet.

[@maryHenokNft]

Most people find it difficult to handle a fall since they are used to bull markets, but if you know where to look and how to maneuver, you can make a size-able profit. Depending on how you intend to enter and exit, yes.

[@hunter-bourke21]

The enduring US stock market bull run evokes a mix of fear and excitement, presenting opportunities with insight, resulting in $780k gains in the past ten months, utilizing a portfolio advisor for a well-defined strategy.

[@maggysterling33254]

@@hunter-bourke21 My portfolio has been in the gutter for the entire year, so I started researching new ways to profit in the market, but everything I tried just seemed to miss the mark. Please let us know the name of your financial advisor.

[@hunter-bourke21]

Sure, the Financial advisor that guides me is *Camille Alicia Garcia* and she is renowned and has quite a following. So it shouldn't be a hassle finding her. Just look her up.

[@ryanwilliams989]

Thank you for this tip , I must say, Camille appears to be quite knowledgeable. After coming across her online page, I thoroughly went through her resume, educational background, and qualifications, and I must say, it was quite impressive. I reached out to her, and I have booked a session with her.

[@petera155]

I'm thinking of leaving Canada, and I'm far from alone. I'm an Aerospace Engineer, but housing is still out of reach for me. Canada wants to be bring in more talent but it's just not an attractive destination anymore.

[@3rayallen]

Then leave lol, more housing for the rest of us :)

[@mikhailgolichenko495]

Leaving Canada to go where? Housing prices go up everywhere. If a country/city is doing well, the price of living grows. Only places where live costs nothing and you can get shot for 50 cents don't grow...

[@grildcheez1504]

Spin a bottle. When it stops, hop into your car and drive 300km. You will find homes 50-80% cheaper. No need to leave Canada the 2nd largest country in the world.

[@JessFill-h9o]

@@mikhailgolichenko495”get shot for 50 cents” LMAOOO cant stop laughing at this comment omg

[@touringthecitywalking9209]

@@3rayallen A bit rude comment but hilarious nonetheless. 😄

[@2007Lynx2007]

Meanwhile home prices in Calgary are skyrocketing because people are moving to Alberta from unaffordable parts of the Country.

[@shauncameron8390]

Namely British Columbia and Ontario.

[@ryancraig2795]

Same thing in Halifax, from what I hear.

[@TheSweetswed]

Yep I was trying to get over there but couldn't afford had to go to a different part of AB

[@Jthelong]

I have been watching this situation continue to deteriorate across Canada. Bad governance and corrupt politicians enriching themselves at the detriment of fellow Canadians. High taxes that punish productivity, a broken healthcare system, and on and on and on. I have to justify staying in Canada every single day. I have family and friends I care for deeply, but 1 Million dollars for a house is insane. I can buy an apartment in Pattaya Thailand for less than 200K overlooking the ocean. With A beautiful beach minutes from your the Condo. A 10 year visa only cost 10k to 20k, for 10 years of continues stay. I think its time to leave and come back if Canada ever digs itself out of the mud. Highly unlikely.

[@truth5761]

To pay a 1 million dollar home today even with 20% down and amortization 30 years you need $200,000 of family income... Its scary unaffordable. 32% i don't agree with. Thats maxing out the GDS ratios at 39%

[@donm2067]

Considering houses in the sticks are 1m$, I don't understand wtf is going on.

[@kakayou546]

This is why rental income from 1+ suites is essential

[@Azel247]

People are using the bank of mom and dad. Rich families help their children get rich, and others seems to fall behind.

[@stevegaspar5191]

Terrifying is more like it!

[@truth5761]

@@marc37921 why ? Explain

[@ryancraig2795]

This type of long term correction in home prices is what is needed in Canada. I live on the outskirts of Hamilton, which is on the outskirts of the GTA, but my little townhouse is worth something over $500k, nice new ones nearby are going for $700k+, and decent single family detached homes are$900k+. Almost no single family can afford these any more. That's why so many of them have extended immigrant families living in them, with 4+ working aged adults to help pay the mortgage. I'm single and while I make a decent salary (more than the median Canadian family income), I'm not sure I could afford to buy the house I'm living in today. Glad I bought 10 years ago, even though I thought prices were in a bubble then.

[@TheSweetswed]

Ya I sold 7 yrs ago in Whitby thinking how crazy could it get. Wow was I wrong. Never seen it getting this bad where u gotta make 150k to afford most places along the 401 n GTA

[@zochbuppet448]

You couldnt not afford it. Most people cannot effort to buy a house as a single person or on a single income, even with a bit of above average income. 10 years ago around 2012 - 2013 was the last time homes were a bit affordable in the GTA hamilton area

[@richardramfire3971]

My house is worth 1.8 million. I most definitely would not qualify if I was trying to get it today

[@TheSweetswed]

Yep i dont even know how people qualify in GTA and VAN. I wish i held my house in durham longer shit went crazy @@richardramfire3971

[@john_doe_not_found]

There are no concrete plans in place to increase supply. There is no labor to build additional supply. Loans are in a place where developers are unlikely to take on new projects unless they have government backed low interest loans. So, his long term chart is completely pie in the sky.

[@russulpeter8724]

How is possible to have affordable house in the future? Cost of building and labor is going up. Wages is not goin up accordingly.

[@markhirstwood4190]

Easy - I think housing will lose 95% of its value. Then you'll begin to find good values, bargains.

[@sharinglungs3226]

Would start with letting the market crash. We have enough investors in the market a crash will bring back affordability. Unfortunately the government keeps bailing out mortgage holders and the banks. Tighten lending on investors from the banks so developers need to sell more to the end user market. Local govs need to cut back on development charges so when prices fall developers can still make money. Reduce all forms of importing people in the country to a level where supply can catch up. Our population would decrease if we stopped all forms of importing people. Unfortunately the boomer gen will hold up the affordability of houses as they don’t downsize and basically need them to die out.

[@ponzitizen]

And still an open buffet for domestic and foreign "investors"...

[@shauncameron8390]

And the population is increasing, thus higher demand.

[@YoBoyMarcus]

Easy to answer: It's impossible (Unless WW3 happens).

[@jimsouthby2224]

Supply won’t outstrip demand with record levels of immigration.

[@XAUCADTrader]

I find it funny that no one realizes that the gov is just trolling us and still getting support hahah. Of course they'll overrun supply. I would just tell people to plan to leave, almost anywhere in the world would be better. It didn't have to be this way at all...Also, record level of migration suppresses our wages as well.

[@AK-ki2os]

How are house prices going too fall when the gov is bringing in so many people 🤦🏻‍♂️🙄

[@Metalchica-tl6ve]

There's a typo in your graph. On the x axis for the years you have 2010 instead of 2020 at 5:48

[@Chima4289]

My son is in University, studying Applied Math .., and I am advising him that he must look at opportunities in the US, because he will not have decent life in Canada.

[@ronbonora7872]

he can do the math and figure that out himself! LOL

[@SecretEraser]

He doesn't mention that we import 1 million newcomers each year, but only build 200k more houses, so 800k per year will be homeless and jobless and with record low pay due to the oversupply of cheap workers, which will break Canada. i.e. Each day we inch closer to nothing but with no happiness in sight. 💀

[@markb8360]

Because each immigrant buys a 1M house? You’re delusional. They live 10 per house with 4 names on the mortgage

[@SecretEraser]

​@@markb8360 They are either stuck renting forever, or they bring in a sizable downpayment (and credit score) or full payment before arrival. But in all cases, you entirely missed my original point... I didn't say anything about house prices, but since you brought it up: The more people brought in, the higher the demand, which pushes the house prices higher and higher. Soon it will be $2-3million for an average 1 bedroom apartment or $20,000 a month rented but there won't be any jobs left because those are all taken, flooded and valueless. (Except for maybe house builders and farmers). The inequality and unaffordability will skyrocket, and so will the price or scarcity of food. It will bring the middle class to their knees, which is exactly what the elites want. The hunger and desperation will make us agree to anything they wish to impose without resistance or a second thought. I know exactly what's-up. Trudeau cares more about Barbie or multiple private jet island vacations per year than he does Canadians, not even his wife likes him. (No idea why! sarcasm)

[@OGForEverProd]

This summer? It’s almost fall my guy

[@ArleneMonzar]

The total residential home price average in the city of Toronto (not GTA) is down by over 10% in July from the 2023 year-to-date high in May. We shall see if The BoC increases or holds rates on September 6th and how that further impacts the market during the fall months.

[@notastone4832]

housing needs to drop 70%.. 10% is fuck all.. average home doubled in price like 4 times since i was a kid, im only 25..

[@stevegaspar5191]

Most people don't get it. Economics 101. The laws of supply and demand. As long as there is this insane rate of immigration which by the way is going to substantially increase in the coming years - real inflation on everything we buy will be there. Inflation in rents especially, housing in general is not going away. Neither will inflation on all sorts of goods and food. Demand has outstripped supply for quite a while now and it will be getting bigger because of demographics and monstrous immigration numbers. The manipulated government numbers will be what they want it to be. Reality is another issue. Renters will be the worst off with many dropping into homelessness whether the types that are seen or the unseen doing couch surfing. We are following the trend of Japan on the homeless front but they do not litter the streets with tents. Most are working poor who rent a space behind a curtain in what used to be internet cafes and sleep there. This is a trend which can get a lot of traction here too. Some really good KZbin videos on this trend out there.

[@notastone4832]

a civil war would halt the flow of immigrants immediately.. for what thats worth..

[@stevegaspar5191]

Just heard today on the Michael Campbell show since June 18 to Friday statscan announced that 251000 new immigrants have been added to or population. In 2 months. 1.5 million annual pace based on the latest numbers.

[@CarlosLiberated]

I agree with you. I would add two additional factors that add to the issue. One, record low interest rates leading to rampant speculation in the market and total lack of moral hazard and two, the stunning level of financial illiteracy among Canadians.

[@RBBBBBBBBB533]

5:58 looking at supply to outpace demand? Based on what forecast was that conclusion made?

[@stevegaspar5191]

the guy is a rwit.

[@XAUCADTrader]

Think that bro hit up my fentanyl-crack pipe a bit too hard...

[@antoniopalumbo5356]

This guy is so out of touch With Reality

[@stevegaspar5191]

One of Justin's economic and housing advisors?

[@ratonautonomo8963]

The issue with a lot of people ( at least in the Americas) is that they see something coming and they believe it'll never happen to them. I've lived in Mexico, The US and Canada. Every time that I say something about how bad things are getting people laugh. I'm a single man, own 2 properties in Canada and 2 in Mexico, at the beginning of this year, when I noticed how Canada's economy was changing I decided to get a second job THAT I DON'T NEED. Why? Because why not?

[@WilliamBang]

This guy is wrong. That's all you need to know.

[@zeroceiling]

Telus just laid off 6000 employees…and Rogers is doing the same. Bell is asking the feds for regulatory relief….and this is one of our biggest economic sectors. Mortgages were stress tested based on two incomes where applicable….so if one income falls to a layoff…I just don’t know how a family with a $1 million dollar mortgage…renewing…can go from $4,200/ month to $6800,/ month with the new rates that are bound to be going even higher. There is bound to be a crack in the system somewhere one would think.

[@ronbonora7872]

YUP

[@BowtieJDP]

They will kick out the Canadian that lived there for years and replace them with an immigrant.

[@cosmiccometchichi]

we are in a global depression

[@ronl1633]

Justin Trudeau, has broken Canada!

[@masterstacks2030]

Not yet, but soon enough

[@shauncameron8390]

But this is a made-in-Canada problem.

[@parkerbohnn]

The U.S. election is next year in November and with the 6 to 8 month lag in interest rates the Fed will start to cut interest rates around March 2024. Home prices will enter a new bull market in Canada starting around March 2024 and no later than June 2024.

[@saty.7]

Interesting!

[@WilliamBang]

Toronto prices are already rising.........

[@joeissac3934]

I will have whatever you're smoking !!

[@WilliamBang]

@@joeissac3934 He is accurate in his assessment. What makes you believe he is inaccurate?

[@stevegaspar5191]

I see the same thing happening.

[@shaylareynolds8676]

Supply is not coming online. Investors are not buying and construction lost 45000 jobs last month. New construction permits in my area alone dropped 30% year over year.

[@micrasystems]

I stopped watching when he said this is all dependent on supply out pacing demand 😂

[@montrose699]

My son works in construction, mostly residential and doesn't make enough as a carpenter to live on his own. They can't hire and I wonder why when the average is 25 an hour with no benefits

[@micrasystems]

@@montrose699 sorry to hear. Hopefully your son’s income will grow as he progresses through his career in carpentry to a red seal. Maybe start his own business.

[@stevegaspar5191]

Well we all know that ain't going to happen now is it?

[@esparda07]

Great. Moving out of the Country in 2 weeks. Might think about coming back in 2027 as this person says.

[@YoBoyMarcus]

You won't come back. You'll be so happy away from Canada.

[@doinitforfun888]

Sellers are still trying to get 2021 prices when interest rates were 2%. The new listings coming out on the MLS in the Toronto area are way overpriced.

[@rikro6067]

Housing prices are one thing, Canadian affordability is going to be the major issue as inflation will eat up savings and capital growth, and BoC interest rates will reduce the capacity for most as Canadians will not be able to qualify or afford mortgage payment amounts.. this forces most to rent, producing more opportunity for government controls.

[@dslboiz]

If this is an issue why is the government imposing carbon taxes until 2030

[@rikro6067]

@@dslboiz carbon tax does nothing in terms of actual emissions reductions and forces more offshore labour, further impacting employment as inflation increases and government spends more tax dollars they're collecting under the guise of social responsibility. Utter sham and form of corruption, just surprised more haven't fought against this, but maybe they don't see it.

[@TheRealDanielDavid]

Yeah. People are deemed “unable to afford a mortgage” while they pay even MORE for rent in most cases. It’s ridiculous.

[@JjJj-ev8pe]

Housing price should come down 50℅ to make housing affordable in Canada.

[@citizenm9590]

I was living in USA when last house market crashed in 2008 and it took until 2012 to bottom out. Rral estae us lagging in indicator don't buy now like reql estate agents are telling you they are hurting now because no transaction. We will bottom out in 2025 as BoC said thats ehy they expect inflatuon to come down to 2%.

[@tony--james]

"It Now Costs $1,296 To Rent With A Roommate In Toronto, $1,455 In Vancouver" Property-rich Canadians/foreigners, NIMBYism and sky-high immigration have destroyed this once great country. It's so sad to see.

[@thierry1026]

Did it even start? Houses kept going up in my region for sure.

[@johannndsouza]

Same and I travel thru burlington, mississauga, brampton, oakville and all I see is 1 mill++ for anything (Even online) half decent so I don't know where they got their 500k mark in Q1 on that chart lol unless they averaged it out against windsor.

[@chriswhynder8311]

same here

[@stevegaspar5191]

Depends where you are. BC and Ontario already were hit hard and immigration will put a floor in

[@thierry1026]

@@stevegaspar5191 Im in QC, the median house went up since January 2023, it dropped like 5% last year, its almost back up to where it was. And what makes it look worse, is the houses that dropped last year were mostly the 1 million $ house in the city. Out in the region what hapenned is those 200k$ houses completly vanished, now it starts at 300+k It definitly kept going up in my region. I bought 1 last August, I was looking for 1 for my sister about 2 months ago, and they straight went up.

[@kevinbarr9933]

Chief economist of Canada David Rosenberg Canada was housing was "the biggest Bubble in the Universe" and he thought a 100 basis point hike would Pop it, yet in the past 18 months it's been 500 basis points perhaps somethings at the low end of a rational estimate it's going to Pop gradually then suddenly!

[@batralawgroup6354]

There is nexus between many layers of authorities, developers, builders, investors and media etc. All they are minting money, will never let the prices come down by using all buttons.

[@user-ub1gz8lx8c]

Affordable range lol right. Another million people next year you think their coming down? Dream on.

[@gigachad_6862]

Today etobicoke home that a person bough last year Jan at 1.28 MN was sold at $ 9,50,000. My friends new home bought last year in Feb at 1.4 MN in Mayfield Brampton is not able to sell at 1 MN now😅 So real estate is that down. Now I have seen streets where half of homes r for sale at last year peak prices but nobody is buying and they r reducing 100,000 listing price every month 😅 Ppl bought homes at exaggerated prices while at low interest rate now everyone is trouble due to recession. Recession in USA is also coming so Dark days for Canada ahead😅

[@Azel247]

Very bold to forecast to 2027.... and downright arrogant to think you can predict 2035. Just look at the past 5 years. How many things were you able to predict back then?

[@chrisklugh]

I live in Canada. I seen this effect was going to happened some 20 years ago. I saw it coming. Nobody wanted to talk about it because they just did not want to believe. Or we'd deal with it later. Well were way past the point of not fixing this. I recommend everyone with a problem with the cost of living in Canada to move out. And Canada really needs to stop this immigration stuff. 1 Million new people in a year or so? WTF!!! Something like lets invite people at a rate 5 times more then we can build new homes in. F Canada!

[@pennyhenny6144]

What a joke! Housing correction…..haven’t seen it yet.

[@user-uo7vy9jm2o]

How is it that the few continue to thrive at the expense of the many in a country where everyone gets to vote, do we hate ourselves?

[@KM-sr9cc]

Like food and water, Home is a "Life's Basic Necessity" and should NOT become an "Investment Commodity" and the coming Housing Crash in Canada will settle this harsh reality, once and for all. Stillo is right about affordability being improved in a decade but it comes with a catch, Russia ends the War in Europe and China does not invade Taiwan, If they do so, the housing crisis in Canada & affordability crisis will continue throughout the 2040s.

[@JacobPaula]

A crash in real estate markets has less of an immediate impact on people's standard of living than inflation or currency devaluation. That the market is so negative at the moment shouldn't be shocking. If we are to survive in this economy, we need assistance right away. The ETF and stock markets are still quite volatile, just like the property market. Now all that's left of my $370K portfolio is ruins.

[@Dave_East]

Many people are still getting fantastic returns on their investments during this time. Simply maintain a strong sense of reality or ask for professional assistance.

[@Brodin-id8re]

The effects of the U.S. dollar's increase or fall on investments, in my opinion, are complex, but it has never been simpler to learn how to build your money than it is right now, when you may discover and experience a genuinely broad market passively by working with a successful Financial Consultant. Under her tutelage, I diversified my $400K portfolio across multiple markets and have been able to generate over $900k in net profit across high dividend yield stocks, ETF and bonds in few months.

[@Brodin-id8re]

I've shuffled through investment consultants and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit. For me, ‘’Stacie Lynn Winson” turned out to be better and smarter than all the consultant I ever worked with till date, I’ve never met anyone with as much conviction.

[@Agatha.wayne0]

That does make a lot of sense, unlike us, you seem to have the Market figured out. Who is this consultant?

[@animeloverfan18]

😂 “I am not sure that is right ..” I am still looking for affordability , maybe it will never come in my lifetime .

[@parkerbohnn]

Apartments in Edmonton were selling for 30 to 40 thousand in 2021. None were leaseholds. Country Club Estate near the university and West Edmonton Mall was selling in the $65,000 range for a stacked 2 bedroom townhouse just under 1,000 square feet from around the end of last year to just recently. I owned 4 of the bottom 3 bedroom end units bought back in 1990 when they were the same price as today.

[@stevegaspar5191]

Stop crying and move to Alberta. Imagine no sales tax, no property purchase tax, low personal income tax, cheaper gasoline like 60 cents a litre cheaper than the lower mainland in BC as of today and even cheaper compared to Vancouver. We also found a family doctor with a couple of months of moving here. Sure there are some negatives but not nearly as many as the positives. That is why Alberta is seeing the highest population growth in its history right now.

[@shauncameron8390]

Not for as long as the population keeps increasing and people still insist on living in the city.

[@Prairieshutterbug64]

How is supply going to outpace demand with housing starts down and record immigration?

[@joeposteraros]

Far from over? It hasn't happened. A 10% fall in prices means nothing when prperty value is overvalued by 100%

[@CanadianJourney97]

I have done my own assessment. Similar thoughts. Banks are ignoring trigger rates, keeping more houses on the market. They are extending original loans to 105% of outstanding. When renewals come up, (stress test is 2%) The original home owner will be under water with equity due to high interest rates, stuck with the loan they agreed too, while ALSO being unable to afford their stress test at the higher fixed or variable term. This is going to be a huge correction & bankruptcy's. Unless rates come down, which they can't unless liberals control their spending.

[@marksmith6787]

10% fall from 1 million dollar average in bc. Hahaha that’s 900000 average home. Imagine all the people that bought homes at 1.5 million and in 2027 it’s worth 750000 like this guy is saying. That is a very poor decision 😂😂😂😂

[@markmorgan5031]

I love it..go bankrupt people .serves u right greedy bastards I say

[@darrensmith6782]

Are you my dad?

[@kabirrai472]

LOL

[@MrPatrick1414]

We're in for a correction are we? Important to keep people in the market whether affordable or not...hmmm

[@colinsellers1143]

Wanna know why people cant afford a house????? They dont goto work and are super lazy

[@lapraxi]

They are social media artists, they deserve to be rich because their content is healing the world

[@adam.vision]

6:03 how can supply outpace demand when we're growing in populating at such a rapid pace

[@mickfoley1413]

I read somewhere we need to build the same number of homes built over the last 30 years in the next decade just to catch up with the existing demand. I don't believe this guy. I don't have an economics degree but get the basics of supply and demand. With immigrant numbers going up, I highly doubt affordable housing will ever be a thing in Canada ever again. With the new 90-year mortgages, people will inherit their parent's mortgage debt and be happy.

[@thepaintedlady4637]

I think a crash is imminent and there will be a massive humanitarian crisis that follows, when no one can afford to pay housing costs anymore. There is no way Canada can sustain the current prices in the rental and housing market, the average persons spending power is being eroded and debt rising to pay for these extortion rents and mortgages. A few get rich, whilst the majority get further and further into debt and ruin. Also, anyone hear that Michael Bury just took another big short position, betting on stock market crash? You gotta wonder what that guys sees right now that no one else does...

[@ChrisMCP2]

Muahahaha, after they showed the graph, it was rather embarrassing for Tony. Nobody is taking either oxford pseudo economics, nor various permanent-renters circlejerk clubs like better dwelling. Prices will keep going up. Deal with it.

[@sharinglungs3226]

So when is the bank starting your power of sale?

[@markkkkitoooo]

When can I book a showing?

[@Andrew-hp1jk]

The graph is incorrect too. There is a 10 where there should be a 20.

[@wildbill6366]

The most ridiculously overrated and overpriced real estate on the planet.. When it does crash it will be epic .

[@JjJj-ev8pe]

Its time to pop the housing bubble.

[@bdawg333]

It’s just getting started. This is marketing spin.

[@dhj1182]

What correction? Calgary prices just keep going up

[@riderssolutions6228]

keep voting liberal

[@rcana5803]

Canada is welcoming roughly 500k immigrants as well as huge number of International students and I am not sure if the prospective immigrants and students are told about the severe housing crisis in 2nd largest country in the world. These people are leaving their good jobs and homes to come to Canada and only to realize they are stuck in a housing crisis and most of their earnings will go towards paying for their housing. According to officials, immigration levels can only go up and not down. Question is how are they are going to provide housing for desperate people when people are living in the parks. Elementary or kindergarten math can help for sure.

[@rcana5803]

everyone came to Canada to get residency .@@itsmealex588

[@louiskwaku8879]

If the rate cut takes a while to kick in, then why is this fool keep raising the rate and not waite for a while?to see the effects.

[@BowtieJDP]

Housing prices will keep rising 20+% for the next decade. Immigration goes BRRRR awhile housing starts are less than 1/5 the number of annual new Canadians coming into the country.

[@wayneho71]

The coming economic collapse will be an once in a century opportunity for home buyers who are debt free with cash on hands. As per current crude oil price trend, inflation will soon tick back up and BOC will continue to raise interest rate in order to save the loonie (just look at the bond yield). Mortgage rate will reach high single digit by the end of 2023, and double digit by Q2 of 2024.

[@parkerbohnn]

Interest rates will fall in 2024 and should peak around February 2024.

[@wayneho71]

@@parkerbohnn What makes you think interest rates will fall in 2024? I am many reasons to believe interest rates will continue to rise due to the depreciation of the Canadian and US currencies and rising energy cost. On August 22-24, BRICS nations will likely to make announcement to the world on their new gold backed digital currency. This will send shockwave to FX and energy market.

[@YoBoyMarcus]

In your dreams maybe.

[@wayneho71]

@@YoBoyMarcus CPI went back up 3.3% in July just as I predicted CPI will tick back up due to crude oil price. Looks like my dreams in becoming reality. However, believe whatever you want to believe.

[@BlueToronto]

The yield curve is inverted in the US. That means a recession is coming, so it'll be pretty hard, if not impossible, to keep raising rates.

[@leinad5243]

But my agent says houses only go up...Why...ur not my friend any more

[@WTF_Over]

Oh well I’m sure the profits in the family court circus will help

[@Chima4289]

The correction is even haven’t started

[@darrensmith6782]

What will the mucky mucks do when they have to walk around the tents? Where will they buy their Grey Poupon? Lol. All the big raises in the public sector. The delicate genius of buying a house 20 years ago. A society is no fun without the middle class. It’s only going to get worse.

[@samgabriel2360]

Ludacris report, the analyst has no clue of the tectonic changes happening in Canadian demographics and demand.

[@jimmyhat3438]

Finally some realistic prospects

[@danh1532]

I sold my half burn down house for $3 million in Vancouver😂 🖕 and I took all my money out of Canada.

[@joeycmore]

Seems like a good plan!

[@925inder2]

The immigrants have to either have great jobs or money or possibly pull together to afgord the houses. Just saying it will not go down because of immigration is nonsense.

[@markhirstwood4190]

I can't listen to this woman's voice... I do think housing is going to crash hard.

[@StirlingAckroydDenia]

This undoubtedly secures its spot as my top favorite. The way this story connects with me is genuinely unmatched!

[@WilliamSchober-l8g]

😮thanks for sharing 😊

[@chrisskyllas1309]

Fundamentally flawed forecast. Given that our genius PM is bringing 1M people per year, a tight housing supply, and housing starts are at historic lows. Supply and demand says otherwise.

[@yurameshi5189]

It doesn't matter if he's bringing in a M every year, it won't matter if he brings in a B every year. The immigrants coming in can't afford the prices. So really the demand isnt actually going up, because there aren't enough viable buyers. Next couple years Canada housing will collapse as interest rates go higher and people start renewing mortgages. The Ponzi scheme has run it's course 😂

[@rok1475]

Where did you pull that 1M per year from?

[@chrisskyllas1309]

@@rok1475 StatsCan. 500k permanent residents, the rest are temp workers and students. They all need a roof over their heads.

[@chrisskyllas1309]

Oh and forgot asylum seekers too.

[@brightlight3520]

​@@rok1475main stream media quoted 10 million over 10 years. Do the math

[@donairsauce2496]

start saving for 2032 baby

[@NCE-b2k]

Where is this guy living? In a bubble or what? Calgary home prices are up by at least 5%

[@joeissac3934]

Alberta has no diversified economy. It's a frozen tundra where most work in the oil fields. BC, QC, Ontario are going green so no one wants that dirty oil. All of Canada's higher paying professional jobs are located in Ontario, Quebec and lower mainland BC.

[@stevegaspar5191]

I just moved here a year ago. It is the total opposite of what you inaccurately spew in your derogatory statements. You have been drinking Trudeau's kool-aid for to long. It cause sbrain damage because of what he puts in it. He ppppeeeessss in it.

[@stevegaspar5191]

Do you know what else is green? Snut. I warned you about Justin's kool-aid.

[@shauncameron8390]

@@joeissac3934 That's because they're too busy importing it from Saudi Arabia.

[@johndefalque5061]

I'm born-to-lose autistic-there are millions of invisibly disabled like me-poverty best nipped in the bud-should have been left to die at birth. Death with dignity for all. This could free up millions of units for everyone. Extortionate rent exiled me from English Canada in 2016. With our high rents we should be easily able to get non-smoking apts-but no, you have to fight to live in a f-cking ashtray FFS!

[@mariadavis3797]

Once Trudeau is out!

[@treaty8631]

Let everyone pay interest only and accumulate penalties due to not paying off principle.....extend mortgages to 100 years....then youll bever have a collapse

[@Justaguyyoutubin]

I remember that all the experts were calling for a crash to Vancouvers housing bubble in the early 2000s. My buddy chose not to buy a condo for 350k. Its been 20 years and that same condo would be worth about 1 million dollars today. That friend was priced out of the market loooong ago, and his choice to wait has forced him to rent for the rest of his life. We will see booms and busts but the market will continue to trend upwards. This is especially true over a longterm investment horizon, 20+ years. Houses wont be cheaper in 20 years. Especially not with the quantity of immigrants we're bringing in

[@Headinavise]

why stay there ?

[@Mehmed317]

It’s not worth listening to these jokers of economists. Especially these claiming 20% falls. If he said 5-6% would have believed. 30% of Canadians only have mortgages and how many of those have fixed rates

[@brightlight3520]

Exactly 100% agree. They keep calling a crash like chicken little but housing is the one thing that never expires, goes bad or is consumed in any manner. And yet its a necessity for everyone that is in constantly limited supply. Its the one thing guaranteed to go up as we ' import' more people into this country than we have houses for.

[@Mehmed317]

@@brightlight3520 before anyone defaults on mortgage, will first pile up credit card and line of credit debt to try to cover mortgage payments. And after they pile up on those they can declare personal bankruptcy which allows them still to keep their home. They buy time till rates are normalized.

[@irinab7524]

@@Mehmed317Canadians don’t have fixed rates - they have to renew their mortgages every 5 years. 30 years fixed is American thing

[@KennethYimHomes]

Smoking that hopium

[@PatrickHood-ww3br]

Bubbles are most certainly archetypical. However look at bitcoin, that didn't end up bubbling.

[@touringthecitywalking9209]

The Canadian housing market is going through a correction, which means that home prices are dropping. This could have a big impact on Canadians, including the possibility of a recession in 2023. The Canadian Real Estate Association predicts that home prices could fall by as much as 25% by the end of next year. However, experts believe that the housing market will eventually recover. If you're an average Canadian, there are a few things you can do to prepare for this situation. First, be careful when buying or selling a property. It's important to do your research and talk to experts before making any decisions. Second, consider renting instead of buying a property. With falling home prices, renting may be more affordable and provide more flexibility. Third, be prepared for a potential recession. This means having an emergency fund and reducing debt to help you through any financial hardship. Finally, keep an eye on the housing market. Knowing what's happening in your local market can help you make informed decisions about buying or selling a property.

[@daiseman]

Good!

[@jimmyhat3438]

Summer is almost over like September is in a few weeks in 2 months snow will be flying

[@stevegaspar5191]

Last year nov 1st it got cold and snowy. Until then very nice and then boom

[@robynhood9663]

This guy is reading script written by BOC 😂

[@Ben_Stewart]

Blaa blaa blaa. Nothing here.

[@danielluciano9001]

A lot of hopefully

[@pejdaddy3]

Wow this guy has quite the magic 😁crystal ball.

[@mrladidah82]

I rememeber some clown say budgets ballance themselves 😂

[@stickmanfinance6789]

Lol this is commical

[@LatinOz23]

The future looks dark...I mean bright 😂😂😂😂

[@chrispaul3778]

Investing in alternate income streams should be the top priority for everyone right now. especially given the global economic crisis we are currently experiencing. stocks, gold, silver, and virtual currencies are still attractive investments at the moment.

[@cassiejacobs4197]

Everyone needs more than their salary to be financial stable. The best thing to do with your money is to invest it rightly, because money left for saving always end up used with no returns.

[@maxiecharles2842]

If you don't find a means of multiplying your money, you will wake up one day and realize that the money you thought you had, had been exhausted. Investment is a ladder to climb the financial wall.

[@chrispaul3778]

cryptocurrency investment, but you will need a professional guide on that.

[@chrispaul3778]

Facebook 👇

[@chrispaul3778]

Evelyn C. Sanders

[@masterstacks2030]

housing denominated in hard money like gold or bitcoin is going down, denominated in worthless fiat currency it is going up. Careful which asset you use for your denominator