Housing market outlook amid first rate cut

Ross McCredie, president and CEO of Sutton Group Realty Services, joins BNN Bloomberg to discuss the Canadian housing market.
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[@dailydrivenmuscle.]

People are stupid for paying hundreds of thousand over what a house is really worth. Interest rates need to hold not go down. People need to be punished for there FOMO.

[@maxwellOk]

Because so many people overpaid for homes during a period when interest rates were low, I believe there will be a housing crisis because these people are in debt. If housing prices continue to fall and, for whatever reason, they can no longer afford the house and it goes into foreclosure, they will have no equity because they will not make any money if they sell. I feel that many people will be affected by this, especially given the predicted mass layoffs and fast rising living costs.

[@bc5810]

Rates are going down, but fixed mortgages are not, so buyers won't return to the table. Listings may be at all time highs, but everything listed is overpriced or just plain awful.

[@glennevins5180]

That wasn't a rate cut, it was a joke

[@allworknoplay5515]

So close to moving out of Canada :( so sad how this country is being run from a financial standpoint.

[@nairnbaker7385]

They've been stress tested ... no worries. Sunny ways people sunny ways.

[@Roguerebel297]

5:00

[@pauld3435]

This channel never talks about gold. Look at the charts folks its got no where to go but up. The dollar is done.

[@christinalem9836]

❤😂🎉v😢😮n😮m😅

[@JessT-vg7ib]

I've taken this time to read up on gender theory.

[@dirtlump]

It's most definitively NOT up to the BoC's Monetary Policy mandate to make any Real Estate product 'affordable' vis-a-vi median income servicing potential..... Full Stop !

[@adrianasher1457]

What about the fact rates were crashed by boc march 2020 and before that rates were extremely low for 15 years. Investing in Canadian re right now is a fools game. No profit to be made, only losses. Real estate will go back to what its supposed to be for, shelter.

[@HDCanadianTrainVideos]

Any bozo that says you should currently invest in Toronto or Vancouver is over their head. People if they want to invest should be buying in Saskatoon. $400,000 for a newer house with a legal suite. $3500 a month in income, and the house value goes up 10-15% per year.

[@jeffotoole4509]

Down goes housing! Condo crash in full effect.

[@rishi505]

JUSTIN. T is reason of all mess