Home prices rose in Q2 despite slower sales

Phil Soper, president and CEO of Royal LePage, joins BNN Bloomberg to discuss real estate and home prices.
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[@mrzombier]

Most people would move with 25 basis point reduction? Royal Lepage: Yes!! Reality: hell no!

[@peej91]

Sounds like people looking to sell there houses at these overleveraged prices missed out. Good luck trying to find buyers for your 1 million dollar shack now. Buyers are smarter now. And the boomers who sold are living in punta Cana or retired in a condo in Costa rica

[@jamesduncan915]

Last of the dumb money?

[@onemoretime734]

isn't the dumb money the people that are renting when they could buy? This won't b e corrected, ever. Rents will continue to rise, they never go down

[@jamesduncan915]

@@onemoretime734 when it is a rational market, renting can make mathematical sense. No risk concerning the house’s up keep. Money could be better investment in other opportunities. Every situation is different, need to do the Math.

[@oleksandrshyiatyi6826]

​@@onemoretime734 if government will not fix this, yes it will rise to a point that even canadian will move from Canada to USA or other English speaking countries. Don't forget that not only migrants or new comers without there own property but lot of oung Canadians aswell. Couple millions homeless citizens will force government to do something with housing market and landlords even if they close there eyes on this problem right now.....

[@I.H931]

Seasonal increase. Highest listings since 2014. What happens when seasonal sales change?

[@Vengeance8888]

The landlords are not going to sell

[@Plumber60423]

I think when rates hit 3.5 it will make lots of landlords positive cash flow again

[@donmckechnie4129]

I think many landlords will be forced to sell

[@Plumber60423]

@@donmckechnie4129 Yes its very possible. But I think other landlords with deeper pockets would eventually buy them up. Wealth gap is just getting wider by the day

[@erickanter]

@@Plumber60423 If the average house is 540k good luck.

[@Plumber60423]

@@erickanter Houses are too expensive. I meant for condo’s like studios or 1 beds

[@UKNOWMESCP]

Jesus christ .bnn bloomberg/comedy network.

[@SeroSerereSeviSatus]

Bnn = Big Nonsense Network

[@_netscapenavigator]

Yup the crash is coming 😂

[@Vengeance8888]

Yep keep waiting

[@UKNOWMESCP]

Its here....They just wont/cant say it yet. (post media)

[@omark8344]

If all these high interest rate, government policies and capital gains taxes didn’t crash the prices I don’t think it will crash when they start lowering interest rate.

[@Plumber60423]

@@omark8344 Let them think the crash is coming. More tenants = more money

[@CanadianMaple-k7d]

Either not answering media questions or lying blatantly by people in certain positions has become a national pastime of late in our lovely 🇨🇦! 😂We Canadians won’t fall for these creative traps and set ups anymore! Loads of so called industry experts are big time clowns now! 👏🏽🙃

[@agodelianshock9422]

Sales are slower because the prices are too high. Too many people, not enough stock. We're all holding off on buying even if we need to buy. Supply and demand is broken because of the synthetic demand immigration and investment realty is creating.

[@marionovoa3846]

Nonsense

[@Relaxlifeisshort2]

100% cut in July Watch i would wager on it. Wrong especially after the US

[@alexg9727]

Nope. Spending has not been reduced and inflation is going up again

[@FamilyCheung-kc1pw]

I do but believe Toronto will be higher than Vancouver , will see . You are always wrong estimate each year .

[@corinayuen2487]

Buyers are going on strike!

[@Joshua-zw7jl]

Seems like the correction is coming!

[@oleksandrshyiatyi6826]

450sqf condo without parking for 700k sounds attractive.....😂 just kidding. It more sense to collect money buy a tent in Canadian tire and move to costa rica or any other tropical country. Only problem that with such rent prices + other cost of living and lvl of salary its imposible to save something. But condo less than 650 sqf and without parking definitely not for living and making family its shoes box (your own hostell room)😂

[@JonnyZuccs]

25% off the top

[@prao4603]

This guy is a RE propagandist whose job is to convince you the CONDO CRASH isn't coming lol