Housing Will Get Worse - New Mortgage Rules For Canada Sept 16 2024.

[@angelovirone-v8c]

I will never vote Liberal again because of this news

[@HervinPesa]

Not sure it's just a liberal issue. That's coming from a right leaning guy. I just know that until the building process is actually streamlined. It's going to be a mess.

[@CristianEnacheRealtor]

If you are buying a 1.5Million property paying just minimum downpayment, you don't understand nothing about real estate. Nothing. The property of that value today is flat, maybe going a little bit lower. You are paying almost $10,000 taxes, mortgage interest in 30 years will be another 1 million. Where is your brain? Please work with experienced Realtors. Interview at least 5 agents and 5 mortgage brokers to understand numbers. Wake up.

[@HervinPesa]

Agreed. The market for these typically even slow down faster. if God forbid, someone needed to sell or tap the asset value.

[@Joesmith-dt9sy]

When the Liberal and Ndp government, brings in a home equity tax, you will understand why they so desperately want to keep home values as high as possible.

[@HervinPesa]

This certainly will make that easier to sell. Double down on their devisive nature. This tax will only affect homeowners, theyll say 😒

[@garth217]

Share this video with your MP

[@HervinPesa]

Maybe my sense of dejection will fade, but honestly I feel like until enough people get even basic supply and demand concepts, this type of short sighted band-aids will prevail.

[@garth217]

Great video. A policy that actually costs you more does not increase affordability. Paying interest for 5 extra years..would you like a car loan for 4 years or 7 years?.. its the same smoke and mirrors.

[@HervinPesa]

That's exactly it. People mistaking affordability with monthly payments. If you have to give up so much because of housing. It's not affordable.

[@parthppatel28]

Even if you put 20% down for 1.5M you need household income of 250k.. ATLEAST. IS CHRISTIA FREELAND EDUCATED? That's the best case scenario, you probably need higher income.

[@HervinPesa]

@@parthppatel28 Plenty of this administration's actions suggest otherwise.

[@vichysaho2135]

It’s like a bad lease term on a shitbox, a wet-dream for issuers

[@HervinPesa]

Thats an excellent analogy.

[@valdoschaos281]

.Nobody makes you buy 1 million dollar house. By cheaper one. 500 000. Based on your logic anything will make houses more expensive. Because there is not enough houses. Govermant can not make houses cheaper. There is nothing they can do to make more houses. available

[@HervinPesa]

I made that point. no one makes anyone buy anything. You are right.My problem is I used logic...this policy didn't

[@sammi3651]

They can make houses more affordable by, increasing permit approvals for new builds and lowering permit costs. An average building permit for a new detached house is $350000.

[@ImranKhan-iz8gi]

Thanks bud for this video

[@HervinPesa]

Glad you liked it!

I enjoy your other videos, but I really enjoyed the raw format of the video and your passion in this one. You are 100% correct; this benefits people like me, already have a home, more so than the first time home buyer. When you later look into the numbers you'll likely find out it's worse than you initially thought. Take care!!!

[@HervinPesa]

I really appreciate the feedback. Well if this normalizes 30 year amortizations, it will help those who are about to pinched int he coming renewal waves.

[@kk-mu7io]

With this new policy, I can see the house market is going to be collapsed even more faster. The government is clearly signaled the house price is actually losing ground now. Young people should think about the reasons & timing behind this policy.

[@HervinPesa]

As I mentioned, the market was already softening and slowing down, doing what the market is supposed to do. But this interferrence will impact that.

[@HappyP-d9z]

Homie condos are just glorified shit, why aren’t we building affordable freestanding homes so people aren’t having to pay condo fees on top of their investment for more hoops to jump through. And that not to mention that the condos and townhouses that are being built are terrible layouts with barely any room to live and the prices are sky high so where is the benefit? Only the immigrants that think it’s normal are buying them and that could be seen as predatory since it’s taking advantage of immigrants as well as citizens that are being priced out of the market for shit they now better than to invest their money into

[@HervinPesa]

I'll move past the comments about immigrants and the condescending tone. My point there is there's nothing wrong with getting a starter property. Why push and harm your own finances by stretching. I'd say 250k-300k household income is necessary to afford the 1.5 comfortably. The majority of first-time home buyers are not making that yet. The difficulty in the freestanding home is the land development and permit process that makes it longer. So why not solve that instead of pumping more borrowing into the economy?

[@HervinPesa]

@@badinstinctsKZbin-xb3oj no one is saying it's easy. But 8-9 years of saying they care about affordability and there is no sign of new builds getting underway faster. The solution is always bs Financial engineering that doesn't not help those who need it.

[@dmcneil6113]

The Trudeau years are a lost decade.

[@user-vc2hx3vy8y]

I really like everything you say.

[@HervinPesa]

Thanks! glad it resonated with you.

[@zomgoose]

This is a policy to benefit the banks and corporations, not young Canadians. The Liberals have sold out to corporate interests under the Century Initiative and the global interests of the World Economic Forum. This is no mistake, as Mark Carney is now advising the Liberal Party. He is on the board of Brookfield Asset Management which is a corporate backer for the Century Initiative and he is also a member of the WEF.

[@HervinPesa]

I agree with the first sentence.

[@zomgoose]

A year ago, I would dismiss my own statement as the words of a conspiracy nut job. Justin Trudeau, Chrysthia Freeland, Jagmeet Singh, Sean Fraser, Stephen Harper and Mark Carney are all members of the WEF. Mark Carney is also on the board of Brookfield Asset Management. Brookfield is part of the Century Initiative to increase the population to 100M. Telesat has been provided over $3B in taxpayer funding from the government. Telesat CEO Dan Goldberg is good friends with Mark Carney. “It’s A Big Club, And You Ain’t In It.” - George Carlin