Vancouver & Toronto Real Estate Market Update November 2024

[@Sherilynn82]

Thanks to you, I now have realistic expectations for this bull run. I entered crypto earlier this year, and your insights on cycles and market connections have been invaluable. I now understand how global markets impact crypto, so I'm watching traditional market tops closely. Without your guidance, I’d probably be holding blindly instead of actively managing my positions. Growing my portfolio from 2.3 BTC to 24 BTC in a few months has been incredible. Special thanks to Seren Wintersun for her expertise, which has been essential in navigating this complex landscape.

[@Sherilynn82]

SHE IS ON TELE GRAM.

[@Sherilynn82]

@Serenwintersun

[@MoviesForme-zj2nm]

Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience.If you're new to investing or don't have much time, it's best to get advice from an expert.

[@nicebaby9x]

What I appreciate about Seren Wintersun. is her ability to tailor strategies to individual needs. She recognizes that each investor has unique goals and risk tolerances, and she adapts her advice accordingly.

[@Alberttan77]

Investing has proven to be an incredibly beneficial decision. My cryptocurrency profits continue to play a substantial role in growing my overall wealth, reducing my reliance on my salary.

[@hill4377]

There are 100 units for rent in ONE BUILDING ALONE. Toronto. You can actually do a reverse auction for the lowest bidder on a unit. And demand they pay your first and last. 100 in ONE building 😂

[@GreenBeanGreenBean]

that's what always happens in newly constructed buildings genius..... the building is empty before people start moving in.

[@Hoser584]

There is a realtor suing the developer in Vancouver for $800,000 in commission for places he's sold in a building that has just gone into receivership, who the eff is worth that for pushing a bunch of paper work, this is why it's so broken my oncologist doesn't even make that and he saves people from death.

[@ftbsecret]

Yeah, it is a broken system right now. Crazy how developers go along with such insane sales fees! It is industry wide though, just how financial advisors in Canada too often get away with 2-3% fees where I feel anything above 1% is pure theft as 1% is already high compared to other countries. Realtors should also offer a flat fee for service rate. Its easy to push ppl for 3% or even 4% but most realtors are way incapable and useless. It is pure insanity they dare to ask tens of thousands of dollars for the minimal amount of effort they put in.

[@user-le2hu1ct4t]

Without realtors you don't have sales it's why realtors are so well compensated, particularly in precon - reliable realtors are like gold. Thind also owes 300M to a single lender, you can make up your own mind how well that company was run. A quick google search may also indicate their projects have not always been delivered exactly 100% to spec lmao

[@Randomuser11231]

If the realtors strongly believe the price is going up next month why don’t they buy it? If the sellers have the same visions, why don’t they hold the selling to the next month?

[@edamameme1789]

we are, I'm not selling until June at the earliest lol

[@CorporateShill66]

It's all bs and so is this podcast

[@brianko5720]

because being a LL = evil human according to renters

[@milhouse8166]

​@@brianko5720 profiting at the expense of younger families ability to start families... sounds evil AF to me.

[@DJRS2178]

At least John gets it.

[@smity25ca]

The canary in the coal mine is the number of homes owned by senior citizens 🧐 38-40% they will return to the market over the next decade 🤷🏻‍♂️

[@davidhughes6048]

But that money floats down to 65 year olds who likely own their own house so does it go to grandkids in their 30’s/40’s who keep this puppy rolling? 😬

[@michael506]

@@davidhughes6048I just about to write the same thing.

[@surprisek3918]

I'm sorry but a realtor is never going to say prices are coming down, sales are garbage, etc. But without disclosing what my business is, I can tell you that in the last 3 months it is GRINDING to a halt. This is unprecedented in my field. If my business is slowing, just wait until it catches up in the rest of the market. I am already prepped and waiting for the crash. It's coming.

[@danschlegel8609]

7

[@GreenBeanGreenBean]

lack of future supply is bullish for prices... and with cost of construction skyrocketing nothing new gonna get built for the next 10 years.... just like the 80s.

[@taiolabowale8640]

Without saying what your field is, there is no basis for your argument. Obviously, the entire world economy is shaky coming out of the pandemic and central banks are fighting to keep inflation under control. People can only guess where things are going. They mostly don’t know jack.

[@CSBonnie]

​@@GreenBeanGreenBean Don't worry, you may recoup 50% of what you've lost on that townhouse you bought in 2021/22... just hold on for another 10 years and keep telling yourself that the market is bullish 😂

[@GreenBeanGreenBean]

@@CSBonnie uh I've made millions from real estate... stay poor!! (been around since the 90s) always hilarious you clowns take advice from a used car salesman over Bill Gates and then you wonder why you are wrong all day every day when you complain about prices.

[@DJRS2178]

People lose money in business and investments everyday, people just dont think it can happen in real estate in Canada... new construction investors are going to get wrecked. That's what happens when you buy based on emotion and euphoria. We don't have a supply issue! If we did prices would be going up. You've been brainwashed. BTC has a finite supply, why does it top out?

[@T-Bone.]

What is your fare market value? Some builders are going bankrupt with land they bought years ago at lower prices.🤷🏼

[@planesandbikes7353]

we do have a huge SFH supply problem. We also have a declining prosperity recession happening making it impossible for people to move up to the small SFH they need but which don't exist as they are dire shortage. BC built 15,000 SFH in 2003 and 6,500 is 2023 while population is up 40%. How is that NOT a supply problem?

[@AndreInThe416]

If they clamp down on immigration, you could have oversupply on top of depressed prices especially on pre constructions. They were severely overpriced. People WILL walk away.

[@guitarpicker7464]

While mortgage rates my drop, condo fees are going up up up. Costs will continue to inflate and Toronto and other cities are going to be forced to raise property taxes. So any slight drops in mortgage payments will be dwarfed by increases in other costs of ownership

[@ILOVESTEAK10]

It was annouced the other day that property taxes are going up another 7.8% as well in 2025.

[@supermash1]

The Canadian real estate industry is going to get the correction the governments and banks have been trying to prevent for years now. I think it will come like a freight train. Anyone who buys in a big city in Canada now is going to regret it.

[@DJRS2178]

Its called a dead cat bounce... pain ahead. Study other market cycles.

[@MegaJiat]

Housing bears a lot like bitcoin bears. Rolls over for a couple years so they start shouting told you so! I knew it! Then it continues its perpetual path higher. In nominal terms we go higher

[@DJRS2178]

@@MegaJiat sure but can you hold on and not be forced to sell or be forclosed on when the economy keeps weakening, job loss goes up, AI steals your job, high rates bleeding your savings, higher cost for living expenses.... markets have a funny way of making you buy tops and sell bottoms. This will take years to play out. Probably no new highs for a decade.

[@jadejackson1509]

@@MegaJiat If you invested a million in real estate 3 years ago you lost 200k, if you were in the stock market you gained 400k

[@edamameme1789]

a lot of dead cats these last 24 years

[@DJRS2178]

my comments are constantly being deleted/censored.... someone doesn't want to hear the truth

[@MyYoutube-yb7xc]

If there is no new construction, then the city is not getting any development charges anyway. They might reduce those. The cities need to find the lost revenue from development charges elsewhere, as new ci structure is drying up anyway.

[@kevinn1158]

I'm not sure rates will continue to be cut from here. With looming tariffs that equals inflation. Be careful people. Real estate is still overvalued and we are moving into volatile economic times.

[@DJRS2178]

Steve is this your first market cycle blow off top? Overbidding, euphoria, AIRBNB boom, housing can't go down - the signs were all there. The only path is down to fair value and its a lot lower.

[@MegaJiat]

Can 100% agree with your frustrations but supposed bubbles can go way further than you think. Especially when it’s a commodity a person uses to put a roof over their head. I remember around 2018 when Apple was nearing 1T valuation people calling me nuts for not selling. Just saying

[@DJRS2178]

@@MegaJiat im not frustrated at all.... i find it fascinating to witness the delusion. Do you not think a 20+ year bubble is long? we had a blip in 2008/2009 compared to the US, now we are one of the worse countries in the world for overvaluation and over 3 trillion in household debt.... wake up.

[@davidhughes6048]

I think people us a metric such as “what the average person can afford” (based on income) for housing and then forget that averages are skewed by a small number of people who can afford a lot of money for a home, that many people will leverage their equity rather than selling their detached home and downsizing, older owners are aging in place, kids are moving home and (maybe) helping with mortgage/utilities, basement suites, lodgers, airbnb etc. Meanwhile population growth, wealth transfer, and the desirability of detached or at least semi-detached/row housing makes me wonder where this crash happens, at least in the ground based market. So while Toronto is ~40% detached, few of these properties are available relative to the appetite. Not saying this is good, I’d love my kids to be able to pick up a semi for 750k in Toronto and stick a tenant in the basement. I just don’t see it happening. But I guess few people ever do. Maybe Pickering melts down, or the Big One hits BC. Who knows.

[@planesandbikes7353]

Gross shortage of SFH plus nose diving SFH starts guarantees this is not a bubble and the prices will never drop very much, or if they do drop they will not stay down and will continue the 80 year trend of: nearly doubling in price every decade since WW2. 99% of this shortage and unaffordability is a government policy created problem. Condos I don't care about. People should not live in apartments/condos in Canada or USA unless they are in the downtown core or perhaps in the 'middle'. There are plenty of condos in Canada, and not anywhere close to enough small SFH.

[@user-le2hu1ct4t]

@@MegaJiat What bubble was there in aapl? EPS (among other metrics) has been pretty consistent up, most often aapl sell-offs have been on the irrational side. What fundamentals underpin Canadian RE? Rampant money laundering lmao? Unlimited gov support (more real)? It is best practice to avoid investing in artificial valuations, even if they can persist far longer than might seem rational, see: madoff / NFTs / GME etc.

[@maxpayne7419]

I’m not convinced the bank of Canada will drop rates further. The US economy is very strong and the strong USD and potential inflationary tariffs are factors Tiff will have to consider.

[@baseline6786]

Sounds and looks like home values in detached/freehold market is going up in 2025. So what will ppl do? Keep sitting and waiting till a lot more ppl jump into the market

[@DJRS2178]

hahha

[@jmela1370]

The RE FOMO is a joke Let RE speculators borrow more from heloc to buy more RE Once rate cuts stop & job losses mount the massive amount of mortgage renewals from 07/2025 to 02/2027 will make JOMO buyers enjoy life in 26-28 The speculators will start crying like their RE speculators in China and Hong Kong now

[@JimmyHat-k4t]

😂🏁Buyer's Start Your Engine's🏁🤣

[@raycamenzuli8746]

The problem is that no matter who raises fees and who lowers them, there is only one tax payer and in the end it is the tax payer that pays the freight.

[@paulbarton5322]

39:31 If the average GTA homes price was about $400K in 2010 and end of 2023 was about $1.2million, for easy numbers, shouldn't the average property tax be closer to $6500 if existing home owners were to pay their "fair" share. That's obviously assuming that $2177 annually in 2010 even came close to paying for the actual value home owners received from their municipality back then as well, which I'm doubtful of. Seems like this has just been another long term vote buying strategy that it seems all levels and parties are doing in Canadian politics. No wonder we need such high immigration numbers to keep the Ponzi scheme going, grab your popcorn for the next few. I still want to just have a basic SFH that the average family could afford on the average wage. Density works if you want it but it shouldn't be a requirement to just accept your going to have less because previous generations had more. We're regressing. Bread and Circuses indeed.

[@SF-yp4gy]

Thank you for the good show. There seems to be some misconception that municipalities make tons of money on development charge. Development charge is needed to pay for new facilities to support new growth (roads, park, infrastructure etc) Municipalities do not make a profit (or lose money) on development charge. Development charge is based on cost estimates of future projects and adjusted yearly as newer estimate or contract price comes in. Infrastructure cost has been going up drastically and one culprit is the high cost associated with ever increasingly stringent environmental assessment.

[@kalailam7423]

The economy is not stable while the housing price in Vancouver is top of the world and the most unaffordable for its own people. Investors with big money is start coming into the market now 😅? Optimistic is good but never get in the market with marginal cash flow!

[@maxpayne7419]

Buy real estate to live in. Don’t buy it to try to make a quick buck. Those days are over.

[@MegaSnowman35]

Get out of the headache of renal realstate . Buy freedom Bitcoin.

[@MegaJiat]

Johns comment on DCCs says it all. Blaming investor mentality? Guys a total socialist that wants to see larger and larger government

[@ivandakeff4107]

Reposting old shows is quite annoying

[@GreenBeanGreenBean]

John should lay off the crack, his rant on investors is hilariously bad. Like so 10000000% wrong it makes me laugh.

[@taiolabowale8640]

We’re seeing more speculations everyday from chats like these. I’m a real estate investor and 2024 has been brutal. If 2025 resembles 2024 in the slightest, it’ll crumble the economy. Simple and short. All these dumb ass realtors turned podcaster have little to no skin in the game and don’t think beyond their noses.