Why Canada's Home Prices Haven’t Crashed...Yet | Canadian Housing Market Update

Did you know that the Canadian real estate market is one of the hottest in the world right now? In this video, I will show you how the housing market in Canada affects the economy and immigration in Canada. You will find out the causes of the soaring housing market in Ontario and B.C., which have broken all records of sales and prices in the last two years.
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You will also learn about the consequences of the rapid population growth in Canada for the housing sector, as well as the labour market and the society of Canada. If you are curious about the Canadian real estate market and immigration in Canada, watch this video till the end and subscribe to our channel for more informative videos.
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0:00 Economic Downturn in 2024?
9:53 The Truth Behind “Affordable Housing”
12:15 The Breaking Point - Immigration
Between 2016 and 2021, the Trudeau government admitted a record of over 1.3 million permanent immigrants into the country, all of whom will require medical services. This has put a significant strain on large urban areas such as Toronto, Vancouver & Montreal, which have borne the burden of the influx because they are where the lion’s share of immigrants settles. How can Canada balance its economic and humanitarian goals while ensuring a fair and sustainable distribution of resources and benefits?
The housing market crisis in Canada is a complex and multifaceted issue that affects millions of Canadians. The average price of a home in Canada has increased by more than 25% in the past year, making it one of the most expensive countries to buy a property in the world. The main factors driving this surge are low interest rates, limited supply, high demand, and speculation. Many Canadians are struggling to afford their rent or mortgage payments, while others are priced out of the market altogether. The housing crisis also has implications for social justice, environmental sustainability, and intergenerational equity. In this video, we will examine the causes and consequences of the housing market crisis in Canada, as well as some viable solutions and alternatives.
Disclaimer: This channel is for education purposes only and opinions expressed in this video are based on personal research and should be treated as such. These are not instructions, suggestions, nor directions as to how to handle your money. The facts and figures presented in this video are up-to-date based on the recording. These may have changed based on when you watch the video, please, always do your own due diligence! The description of this video includes Affiliate links (I get paid at no cost to you for trying out a particular service.) #canadaimmigration #canadarealestate #housingcrisis

[@DanishGhaziCPA]

If we have yet to see prices drop after the recent rebound in 2023, what will make 2024 any different? Let me know your thoughts.

[@Casey-qm1nd]

Unemployment will go up. As people renew to the higher rates they will have less discretionary spending to stimulate other areas of the economy. Companies will look to cut dead weight, some will go out of business. We will have tons of people competing for a shrinking job pool. It will equal more people collecting government support = increased gov spending. This will also keep wages down and keep pressure on high rents. Bad combo. Also look at the strength of the US consumer. Many are locked in at low rates under 4% with 30 year fixed mortgages. US recently upgraded their growth forecast = rates stay higher for longer. If we are in a recession now, but the US still has to increase, we can't really lower our rates without tanking the loonie. If the US gets a "soft landing" it means they would have no reason to cut rates unless there was an economic contraction. Canada is at the mercy of the US fed, and Canadians are way overleveraged in debt. In this scenario either the asset prices are sacrificed or the currency is. If you sacrifice the currency though, we will be importing inflation from abroad. It's a recipe for disaster. Canadians deserved this tbh and many needed to learn the hard way.

[@fp2687]

I'm a senior and living outside Toronto. I've waited 9 years to date. I had to get back to work at 68 in order to pay my rent. Then groceries and utilities. I need to take transportation to shop and doctor appointments. 😢 seniors need help. Not tomorrow but today.

[@ichow2941]

sorry to hear that. This country really failed its senior citizen.

[@truthteller6743]

Move. I am.

[@jeffotoole4509]

I just heard personally a lady looking to rent in her early 20s working full time. She is making decent 20 something money and wants to rent a ROOM in Toronto. Her budget $1300 a month. $1300 a month for a room. That’s the problem here. She wants a room for what a apartment used to rent for. We are all trading down but still making the same money. People are cramming in just to survive. Thanks JT for this.

[@Chima4289]

The supply of houses for sale is still extremely low. Banks are extending amortizations, delaying defaults.., but it can only delay inevitable. It may take a bit longer to heat the pan, but this frog is doomed. Inevitably, gravity pulls… The problem is, when defaulting home owners eventually forced to sell, not many people can afford to buy at this level of prices and interest rates. At sone point supply will exceed available pool of qualified buyers

[@danielalonzo7445]

I understand high housing prices in places with year round summer

[@sincereahmed8816]

Consumer spending is the answer. Dont think too hard about this.

[@fp2687]

If I buy a property in the usa. Being a canadian do I have to file taxes for the usa. This will only be for personal use and not be rented out. 😮

[@thecanadian8719]

Aaron Gunn's "Waiting to Die", healthcare video on YT. Worth watching.

[@ivannightly1919]

well for one the labor shortage - Ive talked to HR people over the years trying to get friends in at different companies (they were more than qualified) they basically never have enough cheap labor they want immigrants that they can put in training periods at lower wages. They rarely hired my suggestions sighting various stupid reasons a lot of the crying is for pr to get government to bring in more as they can only keep their wages down short term

[@paulbernard2094]

Thanks for the video.

[@DanishGhaziCPA]

You bet

[@samsonoluwatayo9231]

I do not buy into your aguement about bringing people into Canada. I basically think that what is most important is the way the resources is being managed or appropriated. If we all are immigrants and the medical facilities is being able to serve us thus far, I think managing both the human and other resources is what is crucial. If things are not properly managed it does mot matter whether they bring people into the country, it things are going to go messy they would due to improper management of resources.

[@secretlifeofpooches2510]

wait another year and see.... when people need to renew their mortgage some do need to sell... many need to sell, facing 7% compared to 2% no choice for some.

[@Chima4289]

I wonder when renters start defaulting on their astronomical payments.

[@Freedo1234]

BC house price will slump due to fire risk

[@KM-sr9cc]

The rate started going up after February 24, 2022, the day Russia invaded Ukraine. Before that day, the Bank of Canada stubbornly denied the Inflation and ignored the rate hikes despite rising inflation and the high cost of living. The Russia/ Ukraine conflict triggered Runaway inflation and rate hikes around the world so we can say that Russia and China are controlling (hijacking) the global inflation and interest rates around the world and no longer the Western Central Banks. It is easy to predict and analyze that as long as that conflict is going on, the rates will not come down and as we know for a fact, NATO is for the long haul in conflict with Russia and China. Even the day war ends in Ukraine, rates may stop to go up but for sure won't go down either. Factors such as; - Ongoing Russia/ Ukraine Crisis (LONG LASTING and COSTLY WAR) - Rising Global Geopolitical Tensions (China, North Korea, Russia with NATO) - Global Food Crisis - Global Inflation Crisis - Global Sovereign Debt Default Crisis - Global Energy Crisis - Global Supply Chain Crisis - Rising risks of De-dollarization of the Global Economy (BRICS with its 6 new member states) - Canada's $1.2 trillion National Debt - Canada's $2.32 Household Debt (RECORD LEVEL) - Canada's Cost of Living Crisis - Canada's Housing Crisis (2nd Biggest Housing Bubble in the World) - Canada's Affordability Crisis - Canada's Income /Debt ratio of 187.5% (RECORD LEVEL and a TIME BOMB) - Constant decline in the standard of living - Rising Protests, Riots, Labour Strikes, Family breaks ups, Excedous within country and provinces, Crimes, Violent Crimes, Mass Shootings, Spraling Tent Cities, Homelessness All are signs of trouble ahead for Canada for years if not for a generation. Inflation is here to stay for years if not for decades and so as elevated interest rates. The interest rates will continue to rise throughout 2024, 2025 & 2026, and possibly beyond with NO CUTS in the foreseeable future. The Housing Bubble in Canada is about to burst so as the household debt bubble. Remember the facts, Canada's Real Estate Golden Years have been all behind us and will never come back again at least for our generation. A New Cold War era with Russia, China, and North Korea has already begun as has the rise in Defence Spending, HIGHER DEFICITS, and HIGHER TAXES. 50% to 75% deflation (CRASH) in Home Prices is a MUST The "Ongoing Home & Cost-of-Living Crisis in Canada are DIRECT THREAT to Canada's National Security, Safety, Stability, and Sovereignty. if these current crises are not addressed and resolved fully in the near future, there will be a MASS INFLUX of Young Canadians (Millenials) in the US and other parts of the world. Home is a"Life Necessity" and NOT an "Investment Commodity" and the coming crash of real estate in Canada will settle the bitter reality, once and for all. Welcome to New Reality and the New World Order!

[@stevendiffin5625]

Consevative

[@spawn11]

there is no labor shortage at all. Immigration is all about keeping wages LOW and stagnant

[@stephenfermoyle4578]

oh look another opinion another person talking about the same thing over and over get a hobby