Everything You Need to Know About Vancouver Real Estate- Interview with Steve Saretsky

I sat down with Andy Zaremba, host of the Vancouver Real Podcast to discuss everything you need to know about Vancouver Real Estate.
More info on the Vancouver Real podcast:
www.vancouverre...
Check out their KZbin Channel here: / @vanrealtv
Andy also runs the popular Vancouver Float House, which I highly recommend checking out here: floathouse.ca/
In this interview we dissect:
9:26 How Vancouver became so expensive
20:50 What's going to happen next?
23:52 What causes home prices to rise?
27:24 The Wealth Effect and its impact on the economy
32:50 How far can prices drop and the knock-on effects
40:35 How can you benefit from a down market?
44:50 what is the bullish case?
49:48 Why no Realtor wants to discuss a down market
57:32 The politics surrounding Vancouver Real Estate
1:00:10 Capitalism and bailouts and CMHC
Any questions on this topic feel free to email me: [e-mail]
More Vancouver Real Estate info at my blog: vancitycondogu...

[@Feedback4Utoday]

Good interviewer: relevant questions then willing to listen. Nice job!

[@mouratjamoukhanov945]

Amazing as always, Steve!

[@jrodd0077]

Steve, you killed it as usual dude 👍👍

[@86averagejoe]

Thank you for calling a spade a spade.

[@AGENTRENOVATION]

We just love you!!! We email your videos to our entire team as mandatory watching to keep up on. all things real estate.

[@vnmcvn86]

Steve u the man! Made money bc of u

[@yannchevrier-foundy5063]

Macro voices is the best! Hedgeye podcast is also pretty good. I did some spreadsheet calculations with MLS data and found out the standard deviation of annual return is higher than the annual effective return from 2005 to 2016. There is definitely something different in Vancouver.

[@MonowarHossainPalash]

Great Job Steve. you have a great future ahead.

[@paulh2468]

Happy Festivus, Steve! Good interview. Some of the best "The Airing of Grievances" I've heard in a while. I kid. It occurred while watching this that you are kind of a real estate 'meteorologist". You are calling for some storms and bad weather, objectively. If I did not want to hear that a storm is coming, and I only ever want to hear about good weather, most people would think I'm crazy. Even paradise Hawaii gets storms, and volcanic destruction (and new real estate/ fertile agricultural soil). Most capitalists reject that the necessary, destructive part of "creative destruction", can happen to them.

[@Feedback4Utoday]

Great insight regarding 'social divide'.. & associated fairness. Re other realtors... Very few have any 'investment' skill... mostly 100% a selling/talking skill.

[@rmk514]

Great podcast Steve

[@TheMacronical]

You are the only person, besides me, on youtube to actually talk about the wealth effect of real estate. Great podcast my man

[@raymiller1207]

Steve, as I said few days ago RY bellow $92.80 is Strong Bearish momentum and Vancouver Housing market is going to Drop down 88.6% from July 2017 Price level.

[@tavomgl]

We gotta stop the drugs.

[@raymiller1207]

@Pew Pew News I'm Russian Professional Speculator with honour degree in Communism Science and Financial Engineering from Military Political State Marine Academy and you can ask any questions by e-mail: [e-mail]

[@inder693]

Great stuff !

[@archief1590]

I’m liked out ! Like like like like ! I thought this interview featuring Steve Saretsky hit the nail on the head but count how many times the word ‘ like ‘ is used hundreds of times, and it diminishes the quality of the interview. My high school daughter and her friends now have competition ! C’mon Steve, think about it before you say it.....again and agin and again, it depreciates the greatness ! Still a fan !

[@cazzoman100]

You can’t own anything , the bank does.

[@mjcsk8725]

Why do you always sugar coat the downturn!! Some would say beating around the bush Lol just tell the people there F@#cked lol and wish them luck. Don't get me wrong do like your videos!

[@mouratjamoukhanov945]

From a Macro perspective, so is the loonie if we have a massive housing downturn. This is not the US where a housing downturn was disconnected from their currency. The US dollar is a global currency, just like Spain's downturn, where they were handicapped by the Euro. In Canada, we have our own currency like Russia (my home country). As soon as the economy in these countries shows signs of weakness. So does the currency. One could argue, that a slumping currency would simply dampen the RE downturn from a macro affordability perspective. Making our RE cheaper for Americans, and might spark some interest overseas. But like Steve said, future is not certain. I noticed that people who are negative about RE here, are delusional when they think that the safe haven is cash. Cash is King to an extent. I am not bullish nor bearish on the market anymore. I've put myself in a position where I hold both. There is definitely some great detached house buying opportunities right now, to find these. Look at location, location. Unfortunately, most people look at bells and whistles instead. So they buy a fancy house in Surrey, where there are thousands of other similar houses. During a downturn, I tend to look at locations that were off limits in the last 5 years where people held on the assumption they will sell to a developer etc... Unfortunately for them, the timing was just a little out, now we're in a downturn. They don't wish to hold anymore and sell. This is where you come in and pickup, rent out, hold. Obviously you have to have a sizable down payment. And hopefully you played the RE game to get there. Another thing to keep in mind, going back to currency. If you look back at 2010 or so. Our loonie was higher than the USD. Now we're down 30%. I've looked at lots of comparables in my area. You can still find a nice detached that only went up 50% since 2010 to now. If you account for our slumping currency. Globally, the prices only went up 20%. What I'm trying to say is, there are so many things at play. That's why Steve is cautious and stays away from predictions. Because there are just too many moving parts to all this. At the end of the day, this is not Saskatchewan either.

[@markiiee90]

Would it be worth it then to exchange the candian currency for USD if a downturn is on the horizon since the candian dollar will devalue as house prices go down?

[@mouratjamoukhanov945]

@@markiiee90 The problem with doing that is you pay too much to exchange back and forth. Since this post, the loonie has already lost steam. If it looses too much, it may give BoC room to move with hikes also. Since they watch the loonie also. A falling loonie is inflationary. There is a better chance that BoC and regulators will start pulling levers to stimulate the market to tame a major drop. But of course, depends how the markets interpret that. They could see it as a good or bad thing, and either stick or get away from the loonie. Example. Not raising rates but stimulating housing, could be seen as a sign of stability. Plus we don't know how everything will play out coming 2019 in general.

[@shawtvision]

ppl in Saskatchewan might have been offended ...

[@shawtvision]

😃

[@josesucha7735]

a shout out to the hodlers out there.... i just have one question Steve... When moon???.. When lambo???

[@josesucha7735]

@@saretsky lol.. niceeeee

[@yudi_patisserie651]

35% of downpayment in Van doesn't bring you a positive cash flow my friend.

[@yudi_patisserie651]

Steve Saretsky a two bedroom condo in downtown, and a single bedroom condo in kits.

[@douglasthompson9482]

Good interview. My hope is the elusive oriental investors will be removed from the Canadian real estate scene.

[@Thenearseven]

Let me get this straight, so you’re telling me anytime is not a good time to buy RE. Owen lies to us all

[@chefmarv6499]

Younger millenials will probably see better affordability. Most younger Xer's or old millenials are already loaded with a mortgage.

[@donwald3436]

Bro. It's. like you have no respect for the Party. What's wrong?

[@baseline6786]

To sum it up, Ndp.. ruining things

[@chefmarv6499]

what are those "things" you speak of ?

[@Joe-mz6dc]

So what you're saying is, as you start to realize you're losing a ton of money you can blame it on the government instead of your own stupid investment choices?