Toronto's Real Estate Market So Bad People Are Burning Down Homes

[@Raymondjohn2]

The issue is that either the renter or the owner must in some way pay insurance and property taxes if they want a "permanent roof" with utilities like electricity, gas and water. Because of this, many people-at least in California, where I currently reside-are living in tents. No taxes, rent, mortgages, or insurance. The number of people who tell me they live in their car that I meet amazes me. Its crazy out here!

[@kevinmarten]

It’s getting wild by the day. The prices of homes are quite ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%). Sometimes i wonder if to just invest my spare cash into the stock market and wait for a housing crash or just go ahead to buy a home anyways.

[@usieey]

Personally, I can connect to that. When I began working with "Catherine Morrison Evans," a fiduciary financial counsellor, my advantages were certain. In these circumstances, I would always advise getting professional help so they can steer you through choppy markets and just give you indicators and strategies for knowing when to enter and exit the market.

[@maga_zineng7810]

Please how do I connect to her? My funds are being murdered by inflation, and I'm looking for a more profitable investing strategy to put them to work.

[@usieey]

My advisor is ‘’Catherine Morrison Evans’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. 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

[@maga_zineng7810]

She appears to be well-educated and well-read. I just ran a Google search for her name and came across her website; thank you for sharing.

[@matthewjames1172]

almost time for the 50K realtors in GTA to get a real job.

[@y.cschmidlin8172]

They can leave their shity job to clean my toilets. ahahah

[@parkerbohnn]

There's plenty of jobs for people delivering flyers and selling roses on the street corners.

[@matthewjames1172]

@@parkerbohnn lol :)

[@SeanJonhDiddyPop]

You guys are so funny ! 50 k commissions Ya for real 😮

[@toddlavigne6441]

I have to say, the work is not really work. Yes it's service but hardly even that.

[@CallumMoorekw]

"When home prices were rapidly rising in the GTA it did seem like there was a lot less pre construction homes on fire" LOL. Gold. 😄

[@stockey]

The peace of having a detach house is priceless, a condo is just a glorified appartement with all the same problems that comes with it.

[@khanch.6807]

Humans have been living in close knitted homes for thousands of years. Westerners are the ones that think it's priceless while they suffer from mental illnesses, loneliness and ideological bubbles.

[@toddlavigne6441]

Much work repairs you can do, and control. Condos are really great if you are wealthy and hate working on your home.

[@RJK-i2n]

I've been telling people for a while, that people will start to burn down new builds in hopes of delaying closing 😮😢

[@CallPaula4RealEstate]

Me too

[@parkerbohnn]

People burn down their homes at the very peak of the market when there are zero buyers. We saw the exact same thing in Fort McMurray at the exact peak of the real estate market. The news media lied these were all planned fires and planned arsons.

[@rustyscrapper]

This happened in alberta when oil prices *started* the housing crash in alberta.

[@essamnadeem]

That's a great insight and even though you're a real estate agent, you always manage to deliver the information in a non-bias perspective. Thanks Jordon!

[@animeloverfan18]

Thank you for your honest sharing of what the reality is. There are more mortgage renewals coming next year and I know people who have already sold their properties to pay for the pre construct condos/townhouses due next year or year after next year . It is greed and speculation that get the market to where it is.

[@quinnhamelin284]

No no no, if people keep this up our home insurance will be as much as our auto insurance 😬

[@citizenm9590]

Realestae is lagging indicator with all these rate increases it will take until end of 2025 to bottom out. The last USA house downturn started in 2008 it didn't bottom out until 2012.

[@29condos]

Great breakdown and truly informative content! It's so refreshing to hear an honest opinion straight from the seller 😊 Keep it up!

[@bilsid]

I blame the banks. The rich keep getting richer with the system they play and leave the little guy few options.

[@TheTruth-cg8vj]

Old Tommy figure it out 300 years ago: If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”

[@ronl1633]

I blame the Liberals, rates needed to move up years ago to cool the market and keep in check and Immigration is fine but we don't have a homes or apartments for new Canadians to live in? it's just a government with no plan so renters get screwed too, and the Liberals keep spending and taxing.

[@research1747]

Could the problem be design - designing for investors my be gone - the market may have to design for the home owner ?

[@Lifeisapartydresslikeit]

Yeah I hope they don’t burn down my pre construction unit. I want them to close - I can still sell at 30% plus profit. I remember in 2010 my brothers unit was burned down twice. Ridiculous!! I’m in the opposite situation- I want to close my investment property

[@Lifeisapartydresslikeit]

@@davidkania3720 I’m not a realtor. Wish I was!! Two homes sold on Howard Williams court in Uxbridge- look what they sold for in the past week!! 1 year old homes bought at 1 million. See if I’m lying you fool!! I have a property- the exact one- I’m still up $600,000 - you should buy a property too - maybe you’ll learn a thing or two!!

[@buzz4208]

There is going to be so many problems with condominiums starting soon!! It's already started in some condominiums 10-15yrs old??? The plumbing was done in a plastic tube with compression fittings ( pex ) and now it's starting to leak in some buildings. All the exteriors are made from the cheapest extruded aluminum, cheap rubber gaskets and glass, what do you think will happen after 10-15yrs of Canadian weather. There will also be problems with underground parking garages with water and elevators, the mechanical nightmare in every building. Most of these new urbanization centers will be ghettos and slums in a few years. Buy physical gold, up 525% since 2000 with no legacy charges.😮

[@tinker3962]

BOC lightning. Strikes evrywhere ... all at the same time.

[@eric2005]

Detached is not more maintenance. One can easily get all their house maintenance taken care of for $12k a year. If you want to do it yourself it costs a fraction. Condo appreciation should normalize for maintenance costs.

[@camels9654]

This happens when the builder doesn't pay it's trades, home owners could be doing it too, either way a lot of pain is coming to the market next year.

[@tvismyonlyfriend]

I've seen construction burn as well in my community Fort McMurray 2019 was bad

[@justinaldrich1719]

BoC wants a .50 hike in september. i fking hope!

[@Precondo]

probably not, 25 or nothing

[@NewYork0110J]

This can cause more or existing homes on fire.

[@justinaldrich1719]

@@Precondo BoC said it not me!

[@Precondo]

@@justinaldrich1719 hmm I’ll have to have a word with them 👊

[@toddlavigne6441]

So you put a down payment on a house and it burns down, can't the builder simply replace the structure ( insurance ) and hold you to the contract and force you to close.

[@MariusT107]

Awesome breakdown Concise and to the point. Great stuff.

[@shanerogers9386]

Justice for the speculators hoarding homes

[@montanamayfield]

Yes, it is called sell your home to the insurance company

[@mayankashok453]

Great video..! Good insights on comparison 2017 vs 2022/23 and individual listings over last few years 👍

[@sathishkumarbalasubramania982]

Nice one, informative..

[@marshferguson4737]

Oh, I've noticed more fires for sure!! And ive even heard some people considering it.

[@lexsportoverflows586]

Can you do a video on pickering pre con coming to downtown pickering?

[@honestrealestatetalk]

Best thumbnail 😆

[@Precondo]

i worked hard on this one

[@CityEstates]

@@Precondo fell off my chair

[@MariamMariam-ue7vz]

Omg / I can’t handle crazy house insurance pricing too

[@danielcooper5698]

7:52 Office occupancy increase? On what planet?

[@Precondo]

this one, it’s reported monthly and has been steadily increasing

[@danielcooper5698]

@@Precondo AAAAAAAAAAAAAaaahahahahahahaha. 250 THOUSAND more Canadian small businesses will go bankrupt by the end of the year. You believe the office occupancy statistic?

[@discontinued692]

I've resisted moving to the GTA because of housing prices. No regrets.

[@javiersantos4385]

Best Toronto Real Estate clips I have found in KZbin are from this guy

[@Jason-sf8vx]

It is possible as people wanted quick exit for the burden as property price drop downward spiral

[@kathyfreeman9596]

Excellent information as always !! Thank you

[@hnysheth]

Good info🙏🏼

[@marshferguson4737]

I feel like its the realtors and lenders that are saying the prices are dropping by 30% because they want people to keep buying.

[@jaye2372]

also interesting how condos in Markham have grown at a steady pace in the last 3 years whereas DT is relatively flat, to the point its about the same price per sq ft in both areas. i cant seem to rationalize whether its caused by supply constraints in Markham (or perhaps demand) or whether DT condos have more overleveraged investors and so more impacted by rate hikes creating an oversupply of listings

[@Precondo]

Same thing with Humber Bay, used to be a discount to Downtown, now it's basically the same price

[@johnnordby1331]

The PREMIERE may well be assisting the unaffordable housing in southern Ontario ! Why were environmentally protected lands in southern Ontario sold to rich people for millions and now to make room for housing those lands have to be bought back for BILLIONS ? Were these real-estate buyers big political donars ? In government we do not vote for seemingly unethical standards so I hope that isn't true. Maybe an INVESTIGATION could clear this up for voters.

[@markhunt5019]

July-August “seasonal decline” very directly implies an Autumn reversal. I’ll take that bet for more than a dollar or two. These are not normal times and looking for “normal past trends” is a disservice. Better to analyze all the ways how it is not normal times, although the current developing pattern may follow the pattern of other anomalies, other corrections of unusual significance. Use the thinking and planning required by the developing conditions, if you want to do well.

[@joechang8696]

I would interested in knowing if there is difference in long term appreciation between low and high fee condos

[@vikingmike8139]

There isn't any ' correlation ' so to speak. These incidents are merely 'accidental' BBQ fires. That's the explanation.

[@vikingmike8139]

Are [you] experiencing the ole' mortgage payment blues? Well, there is an easy solution to your problems. Get yourself a BBQ, five or four gallons of gasoline or diesel, and some hotdogs and buns. Then just light that sucka' up and your economic blues vanish magically. The good ole' rip-roarin' 'ACCIDENTAL' BBQ fire completely eradicates ALL of your mortgage problems with just one match! And if [you] don't have the guts and grit to do that yourself, then just sequester one of your local criminal element sacks of shit who is currently enrolled in the great Canadian ' Federal Catch & Release Program ' to accomplish this task for you. Totally committed to the fifty bucks usually, should do it. Prices may vary. BBQ Fire! The logical solution to an uncomfortable situation. 💥💥💥💥💥💥💥💥💥💥💥💥💥

[@danielcooper5698]

This is beautiful

[@ninaskeete1739]

Agents foster the move as well

[@research1747]

Get the builder to take back a second - interest free 2 years ?

[@Kblueprint]

Where do you get this charts?

[@Precondo]

Most I make with data from TRREB

[@CallPaula4RealEstate]

Who are the people with that much cash? Let’s open that up? No one I know… foreign buyer ban is a hoax.

[@ykhov]

So many people are getting a $200k education lesson.

[@BellaBella-jw9ef]

And they will be very very educated by the end of 2025

[@joem3556]

What caused 2017 correction?

[@Precondo]

Stress test eroding buying power / affordability

[@Evilslayer73]

And soon insurances prices are gonna go up a lot!i mean a lot!!!

[@HungPham-dp4mc]

How pre condo 2027 up or down thx

[@MickyMouseLimited]

There is nothing new. Say thank you to foreign investors and owners. This was happening on Robson street in Vancouver 2008 2009 just before the Olympics.

[@jackalj8571]

Oh look, greedy people experiencing the consequences of their own actions...

[@Rick1234567S]

Our plan here we are working on to get funding for the military... In a nutshell, AirnB regulated like hotels, trespassers caught conscripted to the army, some go to build trains, some the psychos they go to the front lines. Those are maybe going to change as time goes forward. I was speaking to Igor Dombashschitski from the Dombass region who is now stationed in Africa and he said that there have been many casualties on the front lines since robots have been deployed there.

[@BryanMcCann-ks9jh]

I predict a housing crash due to people buying homes over asking price, lacking equity if prices decline further. Foreclosure becomes likely if they can't afford the house, and selling won't yield profits. With anticipated layoffs and rising living costs, many individuals may face this situation.

[@MargaretWeir-sw3er]

I suggest you offset your real estate and get into stocks, A recession as bad as it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too.

[@Calvertmarian]

You are right! I’ve diversified my portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above $830k in net profit across high dividend yield stocks, ETF and bonds.

[@MargaretWeir-sw3er]

Do you mind sharing info on the adviser who assisted you?

[@Calvertmarian]

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[@MargaretWeir-sw3er]

Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.

[@kazual9206]

houses should not even be an investment to begin with ! Let them eat the dust for price gouging the people needing a roof on their head. They are main reasons why people are sleeping in the street and the economy spiraling out of control. I have no sympathy for them.

[@iamzuckerburger]

Let's reimagine eminent domain and civil asset forfeiture to seize the vacant luxury condos. We can literally just take them. They are ours. Don't be fooled into "building affordable housing." The stock is here, it's move-in ready. Let's eat!

[@torontomunda]

You will own nothing and be happy 😂

[@mjulianlee]

It's all part of the setup. Be strong. Revelation 3:10-11 [10]Because thou hast kept the word of my patience, I also will keep thee from the hour of temptation, which shall come upon all the world, to try them that dwell upon the earth. [11]Behold, I come quickly: hold that fast which thou hast, that no man take thy crown.

[@charlesponzi9608]

I hope these people get lucky like Larry Silverstein--but maybe it only works if you're wearing a tiny hat???

[@kevmack101]

YOOOOOOOOOOOOO I'M ABOUT TO MAKE A NEW VIDEO THIS WEEKEND EXPOSING MY CROOKED AGENT YOU GOT TO INTERVIEW ME ON YOUR CHANNEL :)

[@danielmallia8792]

Starting to think you're a bit biased ;)

[@Precondo]

I feel attacked !

[@y.cschmidlin8172]

What happens when a snowflake burns his home. It gets flooded. ahahah

[@daiseman]

Lol

[@brianmcintyre8563]

It's called insurable combustion.