These 6 Charts Prove Canadian Real Estate is FINALLY in Decline (2024)

I analyze the latest data from the Canadian Real Estate Association (CREA) to prove just how much of a decline the we are currently in. Year over year price declines have now started and are expected to continue throughout 2024 and inventory is building quick. Stay tuned for more updates as this latest market story unfolds. #realestate #realestateinvesting #crash #homessales #realestatenews #jonflynn #realtor #homeprices #finance #economics #marketforecast
Links/references:
www.cp24.com/t...
finance.yahoo....
www.thestar.co...
www.crea.ca/ho...

[@kortyEdna825]

Asking a real estate agent whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighborhood that cost around $450k in sales in 2019 are now going for $800 to $950k. Every seller in my neighborhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.

[@KaurKhangura]

Home prices will come down eventually, but for now; its best to offset some of your real estate investments and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.

[@foden700]

It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.

[@brucemichelle5689.]

this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation

[@foden700]

My CFA ‘’Marisa Michelle Litwinsky’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@brucemichelle5689.]

Appreciate this recommendation, hopefully I can get some insight to where the market is headed and strategies to beat the downtrend with when I hear back from Marisa.

[@Peter-sz1sn]

The fella's advice to not list at this time speaks volumes. Agents thinking that they can continue manipulating the market the way that they have for the last few years. Love your charts and analysis! Thank you Jon.

[@ericmaher4756]

Yes, that was shameless

[@donm2067]

They've been manipulating it hard since 2010

[@zeliadesousa3747]

Agreed. Agents are highly manipulative of sellers right now. It's unreal: they spend more time trying to find a seller's "weak spot" then to assist the seller in determining the best type of buyer for their unit. Unbelievable.

[@sw8281]

Tons of price cuts in Burlington over the last week. I hope this accelerates. We need real estate prices to come back to reality as it will improve the mood of our whole nation.

[@retrogamer82]

Durham region already seeing 20-30% price drops

[@dtownssqwe]

Oakville going up and up can't get in. Glen Abbey 2500+ sqft home was 1.7M in November 2023 now going for 2.1 for same specs.

[@dtownssqwe]

@@QuestRader issue is these people who are buying are also buying into the FOMO created by the media outlets and real-estate industry which then perpetuates the FOMO more...

[@tudvalstone]

@@QuestRader You can always tell who 'cashed in' in 2010 and sitting in cash, hoping for a major bust and higher interest rates.

[@jimmyhat3438]

The Banks over appraised and over loaned now everyone is paying for it

[@mr2_mike]

Rule changes to allow 50 year mortgages next up. Keep show going at all cost.

[@al9929]

It takes two to tango.

[@justadildeau]

Privatized gains, socialized losses

[@lookanabeauti9386]

Keep the BOC rates as they are..price decline is a result of this. The low supply scare is a scam.

[@DJRS2178]

It was the narrative they pushed out to get the last fools to buy the top of the market

[@chrisfree2000]

💯, I don't know why people can't see the supply thing as it is a scam!!

[@lookanabeauti9386]

@@chrisfree2000 cause we are a fragmented society and a bunch of sheep.lol

[@chrisfree2000]

@@lookanabeauti9386 you right!!

[@dgreen1411]

100% a scam, and they keep posting the low housing starts stats to try and push the lie. Why do you think they're bringing so many people into the country, Libs doing whatever they can to keep house prices up

[@LeahLewis-ny9iu]

I'm hoping there will be a housing crisis so I can buy cheaply when I sell a few houses in 2025. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?

[@AshleyKeith-vw7ws]

Investing in real estate and stocks might be a wise choice, particularly if you have a sound trading plan that can get you through profitable days.

[@EricaWaters-lr6zw]

You're not doing anything wrong; you simply lack the expertise necessary to make money in a bad market. In these difficult circumstances, only really skilled experts who witnessed the 2008 financial crisis can expect to generate a large wage.

[@ChloeCarter-kd7gz]

Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.

[@EricaWaters-lr6zw]

@@ChloeCarter-kd7gz My CFA, Desiree Ruth Hoffman, is a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@AshleyKeith-vw7ws]

Thank you for this tip. I must say, Desiree appears to be quite knowledgeable. After coming across her online page, I thoroughly went through her resume, and I must say, it was quite impressive. I reached out to her, and I have booked a session with her.

[@InvestInFrench]

Love the fact that everything you are saying is coming from somewhere (real data) and not only your point of view ! Thank you

[@SpitOnDaThing]

You're not begging for " Like and subscribe " like other channels. Love ❤️ it.

[@shanesteele778]

Great charts i agree with you 100% if we want to save the housing market prices will have to come down to match incomes and banks will have to reassess what is affordable for home buyers

[@kennethyoung2077]

You are correct, house prices have to come down, lumber prices have to come down, lot prices have to come down, it’s fees have to come down, labor costs have to come down.

[@jimboalogo6977]

They can only prop it up for so long, then at some point. Boom!

[@f87]

Boom = Buy!

[@canuck81]

Supply and demand. Prices won't drop much...

[@alsmart7737]

Excellent video Jon. Your chart of long term trend line analysis of real estate cycles was very insightful. This global real estate crash has just started and real estate prices in Australia, New Zealand, Canada, USA, China and Europe will crash down to their 2012 levels within the next few years. Caveat Emptor!!!

[@jmjm1992]

They better starts declining.or this country will never recover from depression of the real estate crazy insane hight prices.

[@jmela1370]

Trudeau will do all he can with mass immigration or QE to save his and his foreign friend’s RE investments in Canada, bankrupting Canada for the long term I hope I’m wrong but rising RE seems to be all Trudeau understands in economics

[@lattices22]

The last chart says it all

[@justinmacleod613]

Hi Jon and thanks as always for your analysis. I think one significant piece of data is missing from your last chart the "mean line" analysis, and that is the significant increase in money supply during the pandemic. Since our dollars are simply not worth as much due to the printing of money, it isn't surprising to see that prices have gone up above the mean line, and could remain above the mean line. While I don't doubt we are entering a period of price declines in REAL DOLLAR terms, the prices in ABSOLUTE DOLLARS may not decline as much as you expect due to the devaluation of our currency. Perhaps try to chart the mean line in real dollar (inflation adjusted) figures and it will give some further insight. Love your channel and keep up the great work!

[@JosephMcEntee99]

It's definitely alarming to hear about a default cycle, especially in the context of the housing market. Defaults can lead to foreclosures, and that has a cascading effect on the overall real estate landscape.

[@Keithlawson001]

While it's concerning, it's important to look at the broader economic context. A default cycle doesn't necessarily mean the housing market is completely finished; it might signal challenges, but markets are dynamic, and they can recover.

[@patricia_nura3378]

But if more people are defaulting on their mortgages, doesn't that mean home values could plummet?

[@luigijohson6732]

Yes, that's a possibility. An increase in foreclosures can lead to an oversupply of homes in the market, putting downward pressure on prices. It's the basic principle of supply and demand.

[@leonardives1991]

How can people address concerns about their property values?❤❤❤

[@luigijohson6732]

Jennafer Beaver Turner is the licensed advisor I use. Just Google her name. You'd find necessary details to work with to set up an appointment

[@ninabra-qc4op]

For those who believes that BoC rate cut would save the RE market. Short statistics in Canada: -Jan, 2020: monthly average salary = 2x monthly mortgage payments. It means a person with an average salary could pay two mortgages; -May, 2024: monthly average salary = 1.2x monthly mortgage payments. It means a person with an average salary can barely pay one mortgage; Unemployment rate is same for both periods equals around 6%. In addition, in the period 2017-2019 average house price dropped around 10% because Bank of Canada hiked rate from 0.5% to ONLY 1.75%. Unemployment was around 6%. And the monthly average salary = 2.2x monthly mortgage payments. In conclusion, with today's mortgage rate around 5.4% to achieve the pre-pandemic ratio (monthly average salary = 2x monthly mortgage payments), the average house price should drop around 30%. Moreover, if BoC drops the rate to 3%, the average house price still should drop around 14% to achieve the pre-pandemic ratio. P.S. in 1991, when Canadian housing marking was crashing, the monthly average salary = 1.03x monthly mortgage payments which is almost same as it's now. And the market bottomed in 1997 when the monthly average salary = 2.5x monthly mortgage payments.

[@Nemija]

You are correct about the 30% drop in prices. I have got me literally the same number, but taking a wholly different approach. Tue numbers simply match, from whichever angle one observes things.

[@jmela1370]

Also the US did interest rate cuts and QE in 2008 and US RE prices still crashes 2008-2011 Lower rates won’t help much

[@chrisfree2000]

You are right, lowering rates will not help despite what everyone thinks

[@theCanadian808]

Would add also balancing the budget. We have run huge deficits which has pushed up real estate like in the 80's in the 90's Canada balanced the budget hopefully they will do the same

[@user-xj1fl6sk1i]

The mean line for Canada is an interesting data point. But what would have much more relevance is the mean line per major Canadian Cities. As the saying goes, in Real Estate it is all about location.

[@tedebayer1]

Kingston On. area has a lot more listings currently than in recent years...and they're still selling but taking longer on average, and below asking from what I'm told. With a lot of projected gloom and doom there may be some thinking last chance to sell... but what they're moving into beats me.... rents have never been higher despite a lot of new rental going up.

[@MercBaal]

I hear yah, been monitoring the market since mid 2019. At one point we had maybe 100 listings. My realtor kept saying there's no supply, well now there's over 600 listings and inventory is not moving nearly as quick, some stuff is selling over asking, some selling slightly under. Other listings are constantly being reposted but I think the majority can't afford it and with a wider inventory it's getting more competitive for sellers in Kingston. I don't know how many listings you need for it to be a buyer's market or a balanced market but going from 200 or less to over 600 is a drastic change, especially when stuff isn't moving as quick as it was during the pandemic. But how are people still buying semi's or townhouses for 500k+?

[@cosboc5719]

The decrease in pricing it is mostly because of condos. Single detached homes are still going for the same amount at least based on what I see. By any chance you can include in your future reports ? it would be very nice to see the difference .

[@user-vi8ci2bi6b]

Here on the west coast prices aren't down that much lately, but listings sure are up. In the Frazer valley here SFH inventory last year was at 2 months supply, now it's at 5 months supply.

[@TT-fq7pl]

@@user-vi8ci2bi6b Too much religion in the Fraser Valley. You need to go right to the coast to escape all that crazy Alberta stuff.

[@user-vi8ci2bi6b]

@@TT-fq7pl true

[@moavvizsuhail2151]

Where is this really happening? Houses are selling for 10-20% over asking in Calgary.

[@TT-fq7pl]

Parts of Ontario.

[@mr2_mike]

A ton of Ontario investors in AB now. I don't even think they're living here.

[@TT-fq7pl]

@@mr2_mike Nope, they're not. Just speculative investors mostly.

[@user-kv4kp4co1r]

Get ready for a second wave of rate hikes.

[@NietsdlogKram]

Keep ‘em coming. You’re doing the Lord’s work.

[@gimusk5667]

Bubble, crash

[@akt7029]

Is that you gonna happen or that you are expecting

[@mr2_mike]

It's going to happen. The longer the deferral, the rougher the crash. It's an economic law.

[@f87]

This is all good news for those who already own and are ready to buy more!

[@AnnoyinglyCharming]

in 2025 prices will be 100k down from todays prices. BET!

[@veeo987]

That's a very conservative forecast.

[@nunol1554]

buy now think later

[@rosatipicks]

Let’s bet! John Flynn backers get quiet when a wager is offered. 2025 won’t have a 100k drop from current prices. Let’s bet it? Watch, you’ll be quiet! 🤫

[@veeo987]

@@rosatipicks Oh look! A bagholder.

[@AnnoyinglyCharming]

@@rosatipicks bet

[@zeliadesousa3747]

I agree we will revert to the mean (and that's why an investor has to work with this information, instead of making emotional decisions.)

[@JosieDeLazzari]

Thank you for your insight. I think you are right on. Glad I found your channel.

[@nickcheema907]

Another informative update from Jon. Lovely head and shoulders pattern there on the NARSP. $490K is my downside target

[@veeo987]

I see lots of "New Prices" on Centris around Montreal these days. I don't follow the downtown Montreal market, but it looks promising.

[@zefflecave9550]

You are right Jon, on stock charts, we often don't go too far from the daily 20 sma (20 days moving average)

[@benvicius672]

With respect, I think the mean line analysis is a useful tool, but I think the conclusion that we'll revert to the mean isn't a sure thing. I think we could just as easily point to 2021 and say "... and this is where the government devalued the currency 20%".

[@sushi-love]

So true. If he were to draw mean line, inflation adjustment is mandatory

[@user-dj2xb3ow2u]

MLS shows so many duplicate listings. Looks like there’s more listings than actual . Same property listed 2-3 times.

[@FireASAP]

Been waiting for this correction or crash to reality for a long time…. Taking way longer than I ever thought it would but going to love to see it come down. 2 real life examples I know real numbers…..friends sadly made big mistakes….because charts don’t show these…. Brantford, new build row towns… 500 k from builder in 2017…. 2 re sold at the peak for 950k!!!! 1500 sq foot nothing special row town…. Same units are now listing for the last 2 months…. 600k and not selling!!! Brampton, investor bought from builder 1.9million…. Got the key, listed it and best offer he could get last month was 1.8…. Plus commission and closings costs etc…. He had to write a cheque for almost 200k to close on the deal or be sued. Many more coming… been a long wait….i hope the wait will be worth it.

[@1964Loukas]

You will still not afford to buy!

[@gregmchale5011]

good to see prices ahey must are way out of line to what people earn... crazy the must come down by a large amount

[@user-vb2mu7tm2b]

This happens frequently! real estate sits on the market with no buyers. It gets re- listed again to make it look new on the market. How are we supposed to know as buyers how long something hasn’t sold at their asking price?

[@JorgeCarlosGuerrero]

Wonderful research based analysis! Much appreciated.

[@jonflynn]

Glad it was helpful!

[@akt7029]

How about the impact of demand due to increased population in last 3_4 years. And of the influence of reduced interest rates in future? Shouldn't this help economy maintain the housing price at least, if not fuel the housing inflation?

[@milhouse8166]

That would not be good. Most of the increase of population is heavily subsidized by the money printer, which should continue to cause inflation of everything.

[@milhouse8166]

People need to stop hoping for this "solution" because really it is destruction of everything.

[@user-vi8ci2bi6b]

From what I read on many platforms that the amount of housing needed for immigrants is overstated. Seems to be many instances of 20 or so sharing one house.

[@milhouse8166]

@@user-vi8ci2bi6b what platforms? The gov is giving them $10k/month. They live better than most of us.

[@swiralgod]

@@user-vi8ci2bi6b The "New" Canadian way.

[@_netscapenavigator]

The story is not just supply side (sales). The kind of demand we have for housing in Canada can only be compared to post-war years in the 50's, unless somehow no one wants to buy a house, the kind of "crash" people are expecting will not happen.

[@suzKawasaki]

A lot of people panicked about the Jun 1 capital gains tax and listed their rentals..in Brampton anyway.

[@Pill-AI]

Hi Jon … how did you establish/ compute the mean line?

[@tomacml5741]

Wow, an agent tell you not to list then he quietly list his property for sale, how nice? In this world, I only remember this very true phase that has stood the test of time" I only care about my myself. "

[@andrewcrook2240]

Mean numbers are a lagging indicator. You are not factoring in the massive increase in demand (population) and the shrinking supply (new starts dropping off). I believe this will push up the acceleration of the mean average. It's not a huge amount, but it's there. Prices will drop, that I'm sure of, but not -20% of the mean. More like -5% before it bottoms.

[@jonflynn]

Starts are dropping off because demand dropped off because of affordability.

[@connellysmith2995]

I agree. not factoring in demand. There is more to real estate then just Ontario.

[@roncgc8428]

Thanks for keeping it real as always Jon.

[@user-px1gw9bj4h]

Mr. Sinclair has a "vested" interest not only on the Agent side but I would assume he is part of the "investor" Condo owners and he does not want to suffer a loss... you, however, are exactly right on the mark with your "mean" value chart. What comes up... goes down and vice versa. The part of that chart that should be terrifying to people is to look at what they thought the value of their home was (or was going to be) and where the value is going. In today's world a little more common sense and a little (lot) less hype would be refreshing and so was your show today, thank you!

[@FatherFH]

He is telling ppl not to list so that he can sell all his condos.

[@jonflynn]

Most likely

[@7555mac]

the charts looks like i bought at the exact right time March 2013.

[@genericname56ish]

Do you think this applies equally to smaller towns or cities? E.g. Fredericton, Saskatoon etc?

[@denisdufresne5338]

These statistics are interesting but they are too general. We have to look at more specific market like Vancouver, Toronto, Montréal, because there are so many differences between them.

[@dragonflydroneservices1021]

Gratitude

[@elim7228]

Ouch. 50 percent swing?? Its a hurricane.

[@NavyMoo5e]

Hey Jon, Do you think with the amount of youth leaving the expensive areas is going to drive up prices in the traditionally affordable areas? In northern Ontario it wasn’t rare to see bungalows listed at $2-300k, and now to get something at that price is 700 sqft 1 bed 1 bath unusable basement. Do you think prices will revert in the northern areas? Because they’ve essentially doubled in the past 4 years

[@Chris-se3nc]

Al Sinclair on CP24 is the worst RE pumper. He will never directly admit a downturn.

[@mikebowers7719]

Always looking out for number 1

[@muskieman2806]

numbers dont lie, Jon is one of the realtors that tell it like it is and I respect that 100%

[@jonflynn]

Awesome thanks

[@mattg8431]

Well, I finally see a decline in my Mississauga neighborhood (Erin Mills area), a ravine house on a street that was selling for $2.2-2.3M during Covid frenzy, now sold for $1.85M

[@jonflynn]

Thanks for the info

[@user-bn5xo7cm9v]

Prices are going down in ottawa. EQ and Parkview just decreased their prices towns starting at 500000s and EQ singles 700ks

[@jaymar1615]

Yes i think we will see a decline from here on out especially if the link income verification to CRA data..i suspect alot of thise mom and pop and speculation investors will continue to offload what they never could handle to pay for....

[@the_ikiru]

The charts are fairly neutral. I know you want to extrapolate and "hope" that prices are going down, but going back pre-2020, the inventory numbers are getting back to normal. One month of declines does not mean "we'll likely see declines for the rest of the year".

[@samg8012]

Prices in decline? Not for long if trudeau has his way. He has publically said he doesnt want home prices to come down because retiring people need high prices. Seriously.

[@markz1013]

I can't believe people are still listening to Trudy. What ever he said the opposite happens

[@janemckinnon5212]

I can't believe the CMHC April report that stated 2025 and 2026 would see house prices zooming past 2022 prices and beyond. What is that all about, Jon? Does the CMHC just think pent-up demand and a rate cut or 2 will fuel more real estate craziness and speculative investment?

[@sushi-love]

I welcome home price going down though i own a home. It means the chance of quicker rate cuts!

[@user-mu1ws9cp5r]

I don't see the decline in Vancouver BC. The prices are still high.

[@johnboy8211]

In a lot of small towns like I live in, houses are not selling for the past 6 moths. A correction is long over due .

[@althunder4269]

We are seeing larger and larger price swings which indicates the market (or any market) is trying to find a new floor on lower prices. The market is in decline and probably will be for quite a few years into the future.

[@AmolGharat]

But, my realtor told me to book as many pre-cons as possible before the rate cut in June. Now I am confused 😕

[@brendafandangle]

Why does there need to be a down payment??? We should be able to apply with the bank for the full mortgage with pay stubs and employment history , family income , expenses etc… and get a 20-30 year mortgage paying the full amount . 90% of renters pay more than what that mortgage would cost them monthly. This should be a referendum in the next federal election. Thoughts?

[@davidrockefeller2007]

No down payment means the banks have no security.

[@yveyjunk7825]

Curious what you think will happen with prices once boc decides to cut rates

[@ashk5488]

these houses are still overprixed and need to come down in value. once this housing bubble is gone only then we can expect some relief in canada or else life would just be hell.

[@jonflynn]

well said, thanks for the comment

[@keithrodgers1030]

Trying to hide a major problem by telling sellers to not list their properties is wishful thinking. Investors & genuine home owners are struggling to find tenants or keep their properties. The bubble will pop soon everything is out of whack. Bringing more people into Canada to backfill empty landlords properties will just push Canada even deeper in the red,

[@philsidock]

I think I'm very happy to have closed the sale of my house in March. I wouldn't want to be selling it in six months from now...

[@steven8725]

Keep wishing bud. Marginally lower with high interest rates. Once the rates come down a bit prices will go back up. We are at the low point. And it’s still not that bad.

[@trevormerritt1834]

Great info as always, thank you

[@oceanbearing]

Looking at different scenarios on how this can play out, and the longer the market moves sideways, allowing the "mean" to catch up, then less shallow the dip below the mean (ie the market corrects in time versus price). In practice, this could be a price correction over the year and then sideways for several years. I suppose I am asking myself, are too many people expecting the market to correct, find a bottom and then move upwards as in the past. We could get a correction, then a several years of slow sideways actions allowing the mean line to catch up (because of high rates, eventually new supply the gov't is trying to kick starts) before things start to appreciate. That would be more like the 90s model or celtic bubble and the US financial crisis.

[@richardjoprevost542]

Fantastic information as usual

[@gregpeaire3581]

According to the chart, house prices are down from 50% above mean to 20% above mean, so that’s a 30% correction already which is a very steep correction historically. Its possible prices remain relatively flat for years if the expected BOC rate cuts happen which can prevent a further 30% correction from here, so the ascending straight mean line can catch up to the current prices over time, and that will create a revision to long term mean line Jon is talking about as well.

[@zamanwafasharefe1417]

Thanks 🙏 Jon

[@toxictraveller1892]

Those are some mean facts right there...

[@Chadaface]

8:28 'prices ultimately always revert to the mean' I really want to believe this but I think state intervention against the market might get in the way of things. Across the political arena all parties see housing as a commodity and a component of the economy. harming the value of real estate will translate into harming the economy.

[@rajagopalgovind]

It’s a universal law, what goes up will come down and here in this case it will be a huge crash.. country cannot depend on just a real estate.. here everyone talks about real estate .. and government is supporting only big players which is evident..

[@f87]

It was a long cycle but finally buying opportunities are coming.

[@treaty8631]

I don't see prices going down in Durham courtice ....prices are so high

[@coreymichelle408]

Prices have to come WAY DOWN!!! I bought a house in 1980 for 60,000 making minimum wage and a 10,000 down payment. Interest rates were over 11%. Tell me how someone making minimum wage can afford a house today? PRICES have to GO BELOW 200,000 for the average house? It’s the REAL ESTATE MARKET that created this BUBBLE for quick money! I don’t trust REAL ESTATE PEOPLE!

[@melsenbabe]

I don't know why you're fear mongering, Jon. The "experts" told me the 25 bps rate cut by the BoC that has been on its way for over a year now will save everyone 🤣

[@user-kv4kp4co1r]

EXFART

[@susieschilling4009]

Our population wouldn’t be so high if they stopped handing out undeserved not earned money/“income” from the tax extorted hard working/over worked Canadians.

[@mikebowers7719]

you can thank 1 person for that ,(JT is that JERK ) that opened the door and invited the world to our doorstop with no place to put them except on the Gov. payroll .(WELFARE)

[@bgrant5]

My old man installed the eves trough on that house in the background 😂

[@MangoFlamingo]

i found condollo to see prices evolution in Montreal

[@SpitOnDaThing]

Nobody pays attention to kobek

[@Beyondinc]

Serious question what do you expect prices to drop by for it to be reasonable?

[@jonflynn]

25-40%

[@zafarhussain9964]

Long-term means depend on short-term prices. If the prices start coming down consistently this mean will get change as it is not a moving average. I don't think it is a good measure to judge the price level in the country. Prices are 300% higher than what we should have. But anyway, this is what this is, live or leave 😢

[@spankymcduff9683]

..If your betting the the Calgary ( and area )housing prices will drop in the next year you may get disappointed.

[@treaty8631]

He says don't list....if you don't have to cause it will further bring prices down

[@rajagopalgovind]

I have been saying this for long time, do not buy a property for atleast 6 months from now, Canada real estate is just a bubble which will burst any time soon, it’s simple math, your income and real estate prices are never matching… people are not looking at other expenses other than your mortgage payments, for the past one month grocery prices are up by atleast 10%, no one is realizing the facts ..

[@OlegScherbina]

Mean line for longe than 15 years - try 30-40 or more years

[@therealfeedmetal]

Imagine my pay kept up with cost of living 🤯. Yet I'm capped out 🙃

[@comebychance]

Good thing I may not have to sell right now. Funny how the universe works like that.

[@hokeywolf3416]

Nobody can afford to sell a low mortgage home, especially if home values have fallen because of rates. ie, low to mid priced homes.

[@geegeelee]

Hi can you talk about Calgary - seems like it's the opposite

[@retrogamer82]

That’s because people are moving there in huge numbers and buying up property they couldn’t afford elsewhere

[@tomacml5741]

Calgary is currently is in a pump market. If you are a pumper , join them. Toronto pumping is done and is currently reversing

[@Chibling]

The number of "investors" has risen dramatically in Alberta.

[@therealfeedmetal]

People still over bidding almost 100k over asking in windsor tho. Sub 600k houses

[@peterstecroix7984]

And this is just a scare tactic. Oh my God, sell your property now sell your preppy properties and decline hurry hurry hurry realtors only wanna make money they don’t care.

[@johnnylongstocking183]

Jon always talks about not listening to the other realtors all creating FOMO to buy now. But Jon is just the other side of that coin, FOMO sell now before the market crashed.

[@djsyclone]

When's the price gonna go back up?

[@DTrent-uy1wl]

In the 30’s

[@derekfeng2274]

Don't put it on the market Translation: I run first, you stay.

[@kevinn1158]

Last couple weeks, I've watched other agent videos going on and on about the BOC dropping rates in June like it's a foregone conclusion and at the same time the US treasuries going in the opposite direction pushing 4.9-5%. I'm pretty sure the treasury/bond markets have this one right. LOL. The gov't needs to step in and tax investors at a commercial rate. Push them out of the market. Increase supply. Great video Jon. Thanks. As far as I can see, we are still in a correction. Al Sinclair is a wild pumper. He makes me sick quite frankly. He's been saying for decades properties are just going up and that the prices aren't overvalued. I've been saying for 12 months we need a 25% drop. I totally agree with what your charts are saying. Although given the crazy situation we are in, I don't see a big overcorrection below that mean line.

[@jonflynn]

Thanks for the comment, well said