Surrey Real Estate Takes a Turn as Prices Fall! 💸

[@SteveKarrasch]

Do you think the market is about to SHIFT? Book a Call: calendly.com/stevekarrasch

[@izzy2116]

Who cares about rates dropping when the RE is way too high. Not many people have the money to buy at these prices nor should they, even if they do have the money, what you get for the price is an old run down home for 1.4 mil, bad move imo

[@Pugyeg]

I could see the winter being a lot of nothing to discuss and the spring market will be the real test. Rates, pent up demand, job market, overall economy, immigration etc will all play their part. I think the boc skirts the line to ensure the market doesn’t take off or collapse for the foreseeable future.

[@ZyshanIbrahim]

Loved your content really helpful btw are you looking for video editor?

[@itbeme88]

God forbid if inflation nears 0%. I would hate to see a day where my grocery prices simply remain high instead of going higher each month. It would keep me up a night.

[@CanadianRealEstateChannel]

Looking forward to seeing how these factors play out this fall!

[@Bufford2024]

When you get thrown off of the roof ... do you call that a "shift"?😅

[@rachelk8368]

Unemployment is trending higher. Inflation is still here and will increase next year as we import inflation. We are also seeing a shift from peak migration/ demand. With many people planning on leaving BC, I think there will be a lot of investors like in Calgary with empty units and declining rent and home prices.

[@Lifeisapartydresslikeit]

No one was employed during COVID - they were getting minimal money from the government (EI benefits) and we had the highest sales! At the highest peak in history! I think it will pick back up faster than you think

[@RJ_331]

I think we are a long way off from a shift. The economy is not going well and it's only going to get worse. Job layoffs are going to continue to grow into 2025 and not to mention many mortgages are coming up for renewal too. Going from 1.65% to 4~5% is a going to be rude awakening for many mortgage holders.

[@SteveKarrasch]

Why, when they were stress tested at 4.74-5.25%?

[@Lifeisapartydresslikeit]

You realize 2025 is now 5 years since 2020? 4 years since 2021 and 3 years since 2022?! So if you had a 3 or 5 year renewal- It has almost flushed through the market. The people who had 1.7, 1.9, 2.5 fixed rates will now have a 3.5% rate. That is not a lot!! Not a lot at all. So there’s no mortgage renewal cliff. In fact, the market will probably trend upwards in 12 months

[@Vm19879]

​@SteveKarrasch they were not stress tested for mortgage fraud, I.e. forged documents to get a mortgage

[@Stormshfter]

If they're not casualties of the recession and still have jobs they should be fine. A lot of small business is set to fall over this winter.

[@dootdoot1867]

I think the economy is at the bottom. Suez canal is reduced because of conflict. Panama has no recovery in sight. The Chinese labor market is crashing with no workers replacing retiring workers. Brain drain to Korea and Japan. Canada is dealing with a continuing souring relationship with jndia because every facet of Canadians government is infiltrated by khalistani members. 11 sitting MPs for 2.6% of the Canadian population. Pro economy based leadership winning elections in Canada. Trump down south. We will see a reshoring and investment in the west not seen since the 60s.

[@jasminhabeeb]

We are not in an affordability crisis, we are in a "quality of life" crisis. Homes are a basic necessity to a quality of life, it is a commodity only for realtors and investors. People who bought at the peak, paid their price. It must normalize for us to feel like there is some meaning to life and that we live in a wealthy country with a decent economy.

[@MegaSnowman35]

Bring in 1000000 more immigrants in Surrey 😊. Not enough zeros. Save the housing industry. That is all we have in Surrey.❤

[@dootdoot1867]

Surrey actually has one of the largest manufacturing sectors in the west.its why taxes have always been reasonable. Businesses pick up significant portions of the tab. Adverse to Maple Ridge which only has farms and a lumber mill. No basements because of water table. Taxes are considerably higher in maple ridge.

[@mr.d4295]

My March 2025 there's gonna be 10k plus listings in the valley and that's when the real crash will begin

[@SteveKarrasch]

The crash is always right around the corner.

[@Stormshfter]

Historically the housing market hits its low 12 to 24 months after the first rate cut. That's puts it in the second half of next year. If there is no crash by then, there won't be one.

[@sugadre123]

@@SteveKarrasch Since the end of the pandemic craze the market takeoff is always right around the corner too. Just saying

[@SteveKarrasch]

Historically the market averages a 6.6% increase annually.

[@Stormshfter]

@@SteveKarrasch Historically. There hasn't been a real recession since the 90s. This will be your first, You will have a better perspective of the ups and downs of ALL markets by the time it's over. It's my third.

[@ParveenSharma-se2fy]

Last week prices r going down this week prices r down other reaktors prices r going up please make your mind which way all bull shit next 2 month everything is up by for now

[@Sneakypetevaporizers]

No more moustache?? 🥸

[@SteveKarrasch]

🤫

[@jo-annguthur7314]

I can’t stand you. Your real estate - you are the reason home owners pay so much

[@JackChaVideo]

You always have the freedom to turn off KZbin. Just saying

[@saltchuckwest]

Are peeps usually this critical of factually upbeat you?