Some Sellers Start Accepting Major Losses (Toronto Real Estate Market Update)

[@teamkaskas]

Honestly, life is very simple in Canada. Work 2 to 3 jobs for 30 years to pay off your million dollar house then retire in your 60s then end up in a nursing home in your 70s and 80s then you die. The end.

[@ArnoldFreeman-n9g]

“Wow, I Can finally afford to have a family at 70 years old. “ 🤪

[@robertbridgen2950]

What makes you think we never worked 2 or 3 jobs when we purchased our homes years ago when mortgage rate was over 20% in 1981.

[@xinleizhang3209]

That's best care scenario. Imagine in 30 years that the house is worth less than you bought it for. Anything can happen if you look at other countries data or history. Remember baby boomer is gonna be gone in 30 years. There's a birthrate problem in almost every country.

[@aivoveel9596]

Big part of the housing problem is current potential buyers don't see how they waste their income on lots of frivolous things. I did a moveup in the late 70s when interest rates were over 10%. My annual salary was less than 20% of the purchase price. Solution, tighten the belt and totally avoid items that were a non=necessity. Don't blame everyone else and avoid any thought you might be the architect of your situation.

[@katethegardener]

True but my parents did the same thing......worked, bought a home, had kids, sold went into condo until the nursing home. I don't see the difference in previous generations except prices of home, etc.

[@msingleton]

Agents did a major disservice during the pandemic blaming lack of inventory for high prices when the real cause was cheap and easy money. Every buyer should have known they were overpaying and why they were overpaying.

[@cindywilson6166]

In my view houses are way over priced. They are selling still at over inflated prices. Will be interesting where this all ends up!!

[@ArnoldFreeman-n9g]

They are still over priced if its over $100,000. I can’t believe the cost of these modern first world houses. Just give me a plot of land and I’ll put a shack on it, dirt driveway, and heat with a wood stove. Least then I can work and the save money I work for. We have to roll back livings standards to how people lived in 1850s in Canada because something went wrong in this country.🙁

[@Chibling]

Right now only the speculators will afford it, but without actual normal buyers they are like wolves eating themselves without sheep.

[@AngeloDelavinias]

@@Chiblingfalse

[@sharmilanchandrakumar2453]

You guys do understand prices are determined by what people are willing to pay for them. If people are only able to pay $500k then that would reflect in the market. Some people have inheritance from mom nd dad, some of equity over the last 5-10 years.

[@maggiemacaskill1037]

I think the sentiment knows prices are going to come down, but I sense the stall is about denial people are in -- denial that we were already in a bubble in 2020 and corrections may need to take prices lower than 2020 prices. Given inflation since then, the real losses in the pipes are significant

[@bryankerr9174]

In my neighborhood, Boomers can sell their houses no problem because they don't care about "last year's prices". They are happy to get $900K for a house they bought for $200K in 19??. Flippers (sorry, "investors") getting caught out is inevitable.

[@dirtlump]

It's the old saying... "a bird in hand is worth 10 in the bush when hungry".... especially into a now highly probable Real Estate crash/correction incoming ?

[@Stormshfter]

The people who take the "so called" loss now will be the same ones bragging in a few years that they got out before it got bad.

[@BlagoP]

Depends on what you consider a "loss". Prices have fallen across the board. Some larger properties have fallen a lot more in price than some smaller properties. Now is the time to upgrade. Someone might be selling "at a loss" only to be buying that bigger, nicer property at a "discount". And if it's an investment property that they sell "at a loss", they receive a tax refund for their capital losses.

[@doinitforfun888]

Some sellers are really stubborn, and think they can get prices from 3 years ago for their property. They want to break even but they can't especially in the condo market.

[@GreenBeanGreenBean]

what you talking about, condos are outperforming houses (price gap is shrinking not growing)

[@fofal]

@@GreenBeanGreenBean LOL right

[@AmolGharat]

Don't worry sellers my realtor told me prices are going to the moon in the spring 🤣

[@katethegardener]

Definitely with changes prices will stay same or go higher but the Moon? Not going to happen.

[@Pink-Sushi-jp]

If you want to sell in a reasonable period of time, you have to adapt to the market.

[@BobSmith-bw6so]

Great content Santo Interesting to see if the trend will continue in 2025

[@georgedavidson7986]

Prices need to come down more

[@edamameme1789]

they will with massive job losses

[@sanhtu77]

no they need to keep going up

[@f87]

More? I think all housing should be free.

[@GreatDrums.]

Interest rate dropped 50 basis points today. What does this mean for the future of the market?

[@fofal]

it means desperate

[@ArnoldFreeman-n9g]

Just give me a plot of land and I’ll put a shack on it, dirt driveway, and heat with a wood stove. We have to roll back livings standards to how people lived in 1850s in Canada because something went wrong in this country.🙁

[@TookAHikeNowWhat]

SALES ARE UP......... for my mugs @ $9.99: "Tears of investors who made their own choices"

[@sc00bs63]

capitulation is coming , on the Condo segment anyway. 375 sq foot hole in the wall, $150,000.

[@nuzhatqadir5620]

Missing Sunday videos 2 weeks in a row

[@maggiemacaskill1037]

Day of rest

[@GreenBeanGreenBean]

Condos outperforming houses...yep. (contrary to what most realtors would tell you)..... and they will continue to outperform for the next few years as rates come down. Houses sure also benefit from lower rates but you still need a 250k income to take on that juicy 1m mortgage. Most power of sales are houses, literally because of the huge debt load needed to buy a house.

[@DTrent-uy1wl]

Time to erase the cpu spewing dirty hydraulic fluid

[@MithunDas-yf2fu]

Your opinions are very correct.

[@19loquillo86]

But, are they really losing? let's remember how this all happened, in the course of tree years a house woul increase in value almost on a montly basis, and now we know that it was all a scam, wages are stagnated, jobs are disapearing unsertainty is a part of our everyday life, so it's only fair that houses come down to a more reasonable price

[@reality1984.]

Every price on that board is way too much.

[@MikesGoogleAcct]

If you're an investor, selling and closing before Dec 31, and lost money, there is the potential of big income tax savings this year by taking a terminal loss.

[@SalamNaser-c6h]

This is still the beginning!!! Wait until the people who brought in 2021 and 2022 start to renew

[@AnitaSridhar]

You mean less profit?

[@andrewmccoll1582]

Of course some people were going to accept losses eventually. It doesn't mean the market is continuing to crash lol

[@jaymar1615]

It definitely dosent mean it's stagnant or ready to rise either...so what's your point

[@jasonashby9875]

Oh yes it does just like late 70s early 90s lol 😆

[@emdo.unlimited555]

The people who didn't lose were laughing on their way to the bank

[@sugadre123]

Nah everything is fine. Us "crashbros" who have been saying that this was goong to happen since the pandemic craziness are wrong again. Good luck everybody

[@SandraBullocks-d7e]

THANKS VERY MUCH FOR THE UPDATE, I want to start investing, but l'm unsure where to start. Do you have any advice or contacts for assistance?

[@James-n8z6w]

No need for a financial advisor, put everything in Enron and Bre-X. By the way, I've seen your posts elsewhere.

[@jordanangel4950]

Houses should be homes not investments. There are tons of ways for people to invest there money. Rental firms should be banned from single family homes and only be allowed to operate appartment buildings

[@smity25ca]

Adjusted for inflation 🧐 they’re taking a loss 🤷🏻‍♂️

[@marcellod2257]

Prices will be flatlined for the next decade

[@LiseRoy-d2c]

Sellers need to lower prices

[@gmarks1559]

The muppet boiler room condo flipping market is dead 😂. Unbelievable but true

[@davidhughes6048]

Hey. Where you been? You retired now or what?😂

[@gmarks1559]

@@davidhughes6048 lol, whats up buddy. good to hear from ya. I thought I lost you.

[@GreenBeanGreenBean]

there are other people around here and the other real estate boards posting spam like you for 10 years and wasting their lives... just like you be doing. hilarious.

[@Relaxlifeisshort2]

In certain markets

[@bpwk8800]

Cuz condo buyer shift back to house.

[@Ryan-sl8mw]

Capitulation has started. Flood gates opening next!

[@John-u4l9y]

Its all foreign rich investors,canadians cant afford to live here

[@f87]

All housing should be free guys. All homes should also look the same and the size should depend on number in your household as registered with the Socialist Party of Canada.

[@skhancanada01]

And Who’s gonna pay for that , every body working will run away,,, Cuba is currently running that model may be consider going there lol

[@A__SB]

Hope Trump imposes those Taxes, that will certainly crash the housing market.

[@teamsessa]

Those Trump taxes will ruin many other parts of our lives.

[@A__SB]

@teamsessa Yes, but that will mean a fresh start and more affordable housing.