Canada Real estate market 'is nuts'

[@branopetricek2211]

This is intended result of what Canadians authorities want, Ponzi housing fueled by cheap credit. 'Wealth effect' for those that already have, huge profits for speculators, and pain for everyone else.

[@nofurtherwest3474]

Ironically it was spurred on by the pandemic. Everyone wanted things shut down, which means the govt has to create fake stimulus. Give people money to not work and stay home. You reap what you sow my friend

[@chrisborecki2674]

@@nofurtherwest3474 pandemic was just extra fuel to the ever burning fire The housing prices started increasing back in 2016 and speculation/immigration was a major driver and still is today 2015 was the Syrian refugee crisis and 2016 is when we started boosting our immigration numbers to what they are today 350k+ per year meanwhile our building capacity nationally is only 200k units per tear. The demand continues to compound YOY while supply dwindles and remains low This pattern and statistics attracts local ,domestic, and foreign investors with equity adding even more pressure to the demand. The writing was on the wall back in 2015/16 with Canada’s relaxed immigration policy , investor speculation and access for foreign ownership. I don’t have anything against immigration but the stats can’t be ignored. Only way we see a price reversal is increased supply less demand and have atleast a MOI of 5+. We are at 1.6 nationally

[@lionelhutz5137]

*BINGO!* ☝ this guy gets it. 👏

[@marc4770]

"Inflation is always and everywhere a monetary phenomenon" -Milton Friedman The M2 money supply has increased by 33% in the last 2 years. This is huge. Milton warned about a 10% increase in the 70s.

[@parkerbohnn]

@@chrisborecki2674 It was actually 2015 when the first of the rich Chinese started coming to Canada.

[@august9050]

It's getting much worse and coupled with the inflation, everything is not twice as hard. Worse is, there's pretty much no hope in sight? Personally, I've been hit very hard and now more interested in a solution. What is the way forward for the less fortunate ones like me? How do we survive this phase? I am slowly losing my mind.

[@NathanLewis7871]

Practical approach; Spend only on necessities, Try to spread your investments (locally and internationally) but of course be well informed about where you want to put your money. Made my first million this way earlier this year (got help though). Can comfortably wait out this "phase".

[@paulinescholes6797]

@@NathanLewis7871 Amazing approach though its quite not that easy... What do you mean by you got help? I could definitely use help right now... I look forward to your reply...

[@NathanLewis7871]

@@paulinescholes6797 Funny enough, I can honestly relate. The help I got was from a pro "Nancy Lynn Lewis", she was in the news a lot in 2018. You can check her out online for more.

[@vargaskenneth8837]

@@NathanLewis7871 She's got a pretty decent bio and seems American. Does she work with foreigners?

[@thepotter867]

@@NathanLewis7871 This right here is the second time I am coming across this name in a week,, My colleague at work seems to feel she's some kind of God sent angel,,,

[@NickDanzinger]

What sickens me is how easy the problem is to solve: More taxes for people who own 3 or more properties, more taxes for foreign buyers, and higher interest rates. The problem would solve itself overnight. Unfortunately Canadian Politicians will never take these actions because declining prices looks bad. First time home buyers keep getting screwed.

[@parkerbohnn]

The simple solution is to bar ALL Chinese both local and foreign from buying then home prices would revert back to the locals non-Chinese income some 70 percent lower in price. In fact I could get a Nobel prize for this if it was enacted.

[@fcporto7777]

I've said it before and will say it again, normalize interest rates and prices will correct themselves. Government interference with the free markets is the reason we are at this state

[@Angie-in8wc]

When real estate agents are saying interest rates need to go up to too cool the market - you know it’s a bubble. It might hurt, but it could save you hundreds of thousands by waiting 6 months.

[@cremdeniro237]

It won't buy now as the price is going to keep rising

[@Aaron-fb1pq]

These guys seem like genuine people for real estate agents, I have a lot of real estate agents in my social circle and very few think from their perspectives

[@sonudeol9053]

Definitely.. and I loved how the two guys on the ends laughed at proposed liberal policies. Liberal governments are just stupid in general or like others say... it's part of the WEF agenda to price lower classes out

[@Aaron-fb1pq]

@@sonudeol9053 I used to think the WEF stuff was conspiratorial but it’s starting to make sense. There’s definitely liberal elites inflating the real estate sector so their rich friends can gain more control.

[@hojaatakgayev9655]

Why there were not 200 people lines in open house when prices were much, much lower 2 years ago? This behavior does not make sense and seems like people think that because it went up it will still go up - sign of unsustainable bubble

[@solarlight10]

Hopefully its a sign we are at peak fomo and maybe things will settle down but who knows, $2million houses will be standard in 5 years nation wide ugh

[@yp5387]

My friend bought a house for 6,50,000 last year and sold it recently for 1.15. It was a townhouse. SMALL TOWNHOUSE. He made 350K in just one year. What the hell…

[@Michael-kv5ff]

6,50,000 💀

[@mushypork2132]

We need open stats on who's buying and how they pay for it.

[@lionelhutz5137]

Hear! Hear!

[@parkerbohnn]

Virtually all buyers are Chinese as Canadians don't earn enough to even show up when a house is for sale. The new house market is 100 percent Chinese.

[@johnshields8555]

All the new housing stock is being bought by the Chinese. The price is irrelevant to them.

[@parkerbohnn]

The Chinese priced all the doctors and lawyers out of the housing market in Ontario and British Columbia Canada... enough said.😁

[@kantameena9668]

A lot people are buying second home because financing is cheaper.......this is how Sub Prime Crash happened in 08

[@SuperBomberman007]

Most people buying "subprime" loans had terrible credit. Banks are a lot stricter with lending standards this time around.

[@NinjaWarriorDude416]

My condo that is finishing this year is selling parking spots for $150k preconstruction.. and said that they are gonna raise the price soon. SMH A preconstruction down the street is selling parking spots for $250k!!!

[@appleseedmvp]

House is for living, not for profit.

[@liyexiang666]

communist

[@appleseedmvp]

@@liyexiang666 have you seen all the homeless people son?

[@liyexiang666]

@@appleseedmvp haha, just kidding, your line reminds me what XI JinPin said about Chinese housing market. he said pretty much the same thing.

[@m3coupe4me]

@@liyexiang666 Right, and yet he and his CCP comrades rake in the profits from commercial real estate. No thanks.

[@liyexiang666]

@@m3coupe4me no, they do not need to make any RMB profits. they can just print. they make their money by providing cheap labor to western companies at my people's expense---to earn dollar.

[@cxca7723]

Out of control inflation is a big problem. Central bank needs proactively solve this problem at least follow our neighbor US fed increases interest rate, instead of doing nothing which is not a solution.

[@Sceptera]

Buyers with 1 million budget F#$K that. Look at the AVERAGE Canadian earning per year it is basically 50k (THIS IS BEFORE tax mind you), serious budget for 1million most don't even have HALF. People do not even attempt to become buyers because they already know they are F$%Ked. Even shitty bachelor 350 sq foot condos are going for half a MILL, its NUTS.

[@parkerbohnn]

It actually lower than that.

[@Sceptera]

@@parkerbohnn What's Lower? Average earnings? Probably but I took that number from stats Canada.

[@MrTheguywiththemoney]

What's sad is after you sell you can't afford to buy...

[@shichynwang]

Housing only up in the long run. Never sell unless you are cashing out.

[@shoanukumar8108]

true

[@menguardingtheirownwallets6791]

So house prices now double every year, but wages stay the same? How can a person afford a $2 Million dollar first house if they only earn $50,000 per year?

[@parkerbohnn]

They just watch the Chinese drive that 2 figure to 5 million in a couple of years' time.

[@Wellspring604]

It seems like people only have 2 options to protect the value of their money - real estate and investing in stocks. Am I missing something? I remember my parents used to be able to get a decent return on their savings. Why is it so low now?

[@dankestranch8738]

Because rates are low.

[@zalanicht]

Yup, property, gold/silver/, crypto projects that you believe in and understand, and stocks

[@keepingitsimple88]

inflation

[@neiljohnson7914]

you used to get 10% RETURN ON A SAVINGS ACCOUNT, BUT THAT WHEN INFLATION WAS OVER 10%, so you haven't gained anything. SAVINGS ACCOUNTS AND gics where never good investments

[@lionelhutz5137]

You'll never get the rates on your money via conventional savings accounts that our parents did (11-16%). Banks have become much more insidious and efficient at extracting money from people these days.

[@zwatwashdc]

In Canada there just are not enough people under 45. All policy is geared towards old people who already own most of the assets.

[@MrJfergs]

It's very frustrating that the government bends over backwards to appease older people and completely neglects the younger population. Then they wonder why young people don't vote as much, when none of the parties represent our best interests we have no good options. The truth of the matter is that quality of life is declining for future generations in Canada and as long as older people get there pension and 2M home sale they don't care.

[@pcop2804]

When will this end? Us young people trying to be first time home owners are getting fried by this bs

[@deprogramr]

canada is toast.

[@neiljohnson7914]

it won't end. Metro Vancouver will never crash to pre 2005 levels, or even pre 2016 levels

[@johnshields8555]

You have to hit the 6/49 or lottomax to buy a house. That isn't very many people.

[@johnshields8555]

@@neiljohnson7914 Even if they bar foreign money the locals Chinese are paid off by the foreign Chinese to put monster homes in their names to pay no capital gains tax. The Canadian government never seems to get it.

[@billybob3302]

Emigrate if you can. There is no future here. Boomers prefer shipping 20 indians per house than allow their mortgages to drop. They screwed us over and when they finally drop this country will be an indian state.

[@BroLeaf1911]

i moved away from canada to the usa last year and im 25 and im not looking back

[@happyfunnyfoo]

Likely we are nearing the end of the speculative blowoff phase. Liquidity is trending towards collapse elsewhere in global equity, real estate, bond markets. Buyer beware! A return to trend would be a 70% drop. I have a friend who was a millionaire on paper in the 2005-2006 U.S. housing market who bought a house, levered up and bought a rental on top of that, in 2004. Today, 2022, they are still paying off the debts from their massive losses. In booms, most of the money is made first by the public, on paper... ...and it stays on paper. -Jesse Livermore One more thing - Canada might be entering hyperinflation. In that case, food, energy, and money that has not been inflated will return more than real estate. In real terms, real estate will still enter a bear market.

[@johnshields8555]

Good synopsis and yes every variable points to hyperinflation in Canada.

[@adrianhetmanski1832]

Raising interest rates will make it harder for regular people to buy a home. Institutional investors already get better rates from the banks, and investors with 10-20 million on hand don't really care. It will only accelerate investor purchases.

[@namesnikola]

It will make harder for people to service their current mortgage on an already overpriced house. With higher interest rate people will start losing their houses to banks... more houses on the market will lower these absurd prices!

[@Holiday25832]

@@namesnikola people get stress tested at 2% already so its not gonna happen how you think. Its not easy to get a mortgage like people think just because rates are low. This isnt America.

[@namesnikola]

@@Holiday25832 you are wrong sir

[@sidb9540]

@@namesnikola Government will not allow that to happen... BOC knows the only thing propping up Canadian economy is the housing bubble fuelled by Foreign money

[@johnshields8555]

@@sidb9540 The local Chinese in southern Ontario have a much bigger affect on housing prices than the foreign buyers. Out in British Columbia its like 50/50.

[@ezyryder11]

9:00 more demand and more price growth, but more buying power for first time home buyers trying to get in the market and build equity.

[@danielalonzo7445]

The excuse for high housing prices from realtors is they are not making anymore land, yet mist of the Canada is open land

[@videostoragechannel]

That's true and if you try to buy raw land, the govs won't let you.

[@crystaloelke298]

This is the only time I have ever heard an agent say maybe wait it out

[@bravehats]

How much are all these people making to be buying million dollar homes? I mean that's like $6k - $8k monthly payment. The stress level, depression and divorce rate must be very high in Canada. That's not a sustainable model.

[@shoanukumar8108]

have the same question

[@tee6ix66]

It’s about $5k a month and the average basement apartment is about $1800-2000 per month which is applied towards the mortgage and a lot of people are renting out their basements even in a townhouse.

[@bravehats]

@@tee6ix66 how is that healthy living? Imagine being married with kids and renting out your basement. What type of lifestyle is that?

[@Michael-kv5ff]

Most people just bought early and made a lot of money from that house

[@Michael-kv5ff]

@@bravehats why what's wrong with renting out a basement you don't have to interact with your tenants and they have their own separate entrance to the basement so how is it that bad?

[@allguides1186]

"You will own nothing and be happy..."

[@allguides1186]

@Outerlife211 Yes their plan work so far unfortunately.

[@MrJfergs]

I find it funny, how people see the WEF as some sort of conspiracy theory when it's just the natural progression of capitalism.

[@allguides1186]

@@MrJfergs WEF Agenda is much more on the Socialism side and not much on the capitalism.

[@MrJfergs]

@@allguides1186 how do figure? It's a bunch of wealthy people buying up all resources that people need to survive and renting them back to them. That is the natural state of capitalism people with more wealth are able to enrich themselves further through owning assets and companies while working people own less over time and have less economic leverage. Just because this facilitated by government policy doesn't make socialism, all this indicates is that governments are complicit in facilitating this. Capitalism has always been regulated by the state. I'm genuinely curious why people view this as socialism, it's not as if the government is buying up all these houses to rent them at operating costs to the population.

[@allguides1186]

@@MrJfergs WEF model is CCP and China, they take what China done in the past years and do the same on the West, is more then just real estate.

[@johnhuang6811]

The inventory remains stable for decades but just there are too many buyers or speculators due to free credits. Good luck!!!

[@kmr7409]

The only solution for this housing is interest rate to go up which will end the cheap money, because since 2008 it the interest rate was so low anyone can afford higher cost for the housing. Once bank of Canada starts to raise the rate, you will see people will be in tears.

[@SleepingElephant]

Rude awakening coming for Canada.

[@wildKrafter]

@Sleeping Elephant Care to elaborate?

[@parkerbohnn]

@@wildKrafter There's the get richer and there's the gut wretcher. Canadians who bought in the last two years will be taken to the cleaners and lose everything. Gut wretched.

[@2xtreme4u2bme]

Properties that we bought back in 2001 (townhouse) in BC bought at just $160,000.oo / $60,000.oo are now worth $698,000.oo and $388,000.oo insane! I guess the smart thing to do is sell one and buy much cheaper rental properties in Alberta and Montreal and just get multiple room hone rented at 6-800/mo per room

[@johnshields8555]

There's no renters in Alberta and all the property managers are complete crooks and I mean crooks. Libertas was the last honest property manager and they left about 6 years ago.

[@anescapepat]

It was a bubble in 2005 when I first started looking, and the bubble was suppose to pop and never did. Price memory and low rates made this real. Even if rates go up will have small 10% affect, at most.

[@dennisbernic5856]

no the market is never 'nut' , the math is never 'nut'. Nuts is to give 1% loans when the inflation is 4%, yes that is 'nuts'

[@Holiday25832]

Heres the answer: Build more housing, the only solution

[@johnshields8555]

That doesn't work, the Chinese buy all the new stock and the result would actually be much higher prices. I can 100 percent assure this would be the end result. The price of all the new homes around the 2 to 3 million dollar mark would skew the overall home prices sharply upward.

[@Holiday25832]

@@johnshields8555 yea because the Chinese are buying all the real estate in brampton, oakville, Hamilton, Burlington. Your just being anti chinese. Why did the housing market shoot up like crazy in America too? They don't have a huge chinese population buying housing. Its investors plain and simple, doesn't matter the race.

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[@chrisregimbal2073]

This is so depressing, ill never be able to afford a home or a family or a decent life

[@mikeheaton8424]

A year from now things could be completely different. You might be glad you don’t own , or prices drop significantly and be a good time too buy .

[@johnshields8555]

@@mikeheaton8424 Jerome Powell is supposed to wimp out this September on interest rates so home prices in Canada should bottom around September or October this year along with interest rates. The Chinese will drive prices to the moon if interest rates start to fall this September or October. New homes prices will reach 5 million dollars apiece.

[@kurts3779]

The only way to deal with the ridiculously high cost of housing is to vote Conservative.

[@craigrodriguez8384]

Lol sure. You know absolutely nothing about housing works.

[@kurts3779]

@@craigrodriguez8384 yeah right, I have 4 detached rentals in Oakville and I am thankful to this Liberal government for making me filthy rich at 43 years old. I do however feel the pain of those wanting in. Sadly, most of them are too stupid to make the connection between the Liberals spending (the budget will balance itself) and high house prices. Printer goes Brrrrr with Trudeau and consequently, hard assets like real estate goes flying high....and I, a conservative, gets rich renting to avocado toast eating Liberals.

[@shichynwang]

Please study politics. Conservative, the right, is less government control and more capitalism. Pricing still goes up as Conservative allows suburban sprawl, basically more housing less green space and deadly traffic. Liberal is socialism and more government control for wealth re-distribution. For housing, more green space less suburban sprawl and higher density living with condos. But if you must see affordable housing, vote NDP. Only NDP can destroy real estate market by building social housing in rich neighborhoods and therefore destroying real estate pricing. LoL

[@alexguolo5872]

@@shichynwang Conservatives NEVER ran a deficit as high as the libs. They doubled house prices within 5 years. Please get your head checked bud

[@alexguolo5872]

@@shichynwang Conservatives never played with this money printing game

[@swaggery]

Should be 20% down required over $100k, 40% over $500k, 50% over $1 million. Unless you can predict the jobs and the exact money you can make for the next 30 years, including all the recessions and depressions. Nobody can do that, downpayment are there to reduce risk nobody should be taking.

[@lilac7670]

how are young adults supposed to afford homes?

[@mushypork2132]

you don't.

[@redwhite_040]

NOT! You will own nothing and be happy. Thanks to WEF

[@Knightlight02]

We dont, we get fucked by trudeau

[@antonnnn464]

Just move where you can afford buying a house. One can still buy it in Montreal around $500k or under 400k around 1h drive from the city. There are plenty of jobs in IT, pharma, research, finance in Montreal that pay $100k+.

[@Knightlight02]

@@antonnnn464 100% false. Im from around montreal. Nothing les than 700k (thats not falling to pieces) 45m from the city. Welcome to reality

[@danielalonzo7445]

Canada is mostly empty, why don’t they build more housing?,

[@buildingbuildercip8292]

The government needs to stay out of all business… including the money business.

[@keepingitsimple88]

the government works for the bankers

[@buildingbuildercip8292]

@@keepingitsimple88 yes, that’s the problem…

[@jaykay643]

The solution is simple. Keep raising interest rates. Theirs too many "not so smart" people that don't care about price as long as they can get the money

[@jonathangoulet3768]

Part of the problem with the price of homes, especially new homes is the amount of tax hidden in the price. From Fees and material cost. The price of 1/2" plywood went from $13 -$90 plus here in Bc this past year (it has come down since) which the government was now profiting more based on the tax percentage. (12% in BC) They re the ones truely driving house prices up, especially mid range/townhomes as that is what most can afford. They need to cap taxes on the goods for lower income families if they really want them in a home. We already have over 2% LTT. so any home over $2M has and extra $41k + in tax here. The market here is so insane, houses that are not liveable (in suburbs) on 1/4-1/2 acre lots have increased from 1.4-2.2 M just this past year alone.

[@brianbat4469]

A real estate agent I know owns 10+ properties. What is nuts? You tell me!

[@zomgoose]

and they tell us there's a shortage...

[@tintucnongnhat7576]

Does it have any tax for property in canada?

[@JJs_playground]

Depends: if it's a new build and you're buying it as an investment property, Yes you pay HST (harmonized sales tax). If it's a new build and you're buying it to move in as your primary residence, you don't pay tax. If it's an existing build no HST for investors or owner occupied.

[@tintucnongnhat7576]

@@JJs_playground tks. Sound reasonable to prevent speculators too much

[@parkerbohnn]

There's land transfer tax and Toronto has two land transfer taxes. The average land transfer tax is around $50,000.

[@shellywhite2145]

I am new to the stock market. Every stock that I bought so far, I was out of luck because I bought them when they were expensive. I feel I missed out on all the stock opportunities so far for the tech stocks.I believe having 75K yearly income would be a good investment so I want to plug all my savings into the stock market. I know this sounds a bit dull but I would like to know if I should learn investing or let somebody else (more capable like a FA) do it for me? Please share your thoughts. I am kind of tired of searching for a good stock to buy and losing all the good opportunities .

[@shellywhite2145]

@jay pritchett Hi , please who is the expert assisting you and how do I reach out to them?

[@craigrodriguez8384]

My house I bought may 2020- $638,000 closing. Now- $795,000 NUTS

[@jamesyeung3551]

Most of us were unemployed when pandemic started back Imid March. Therefore, buying a property is the last thing on our list On the other hand, when property price goes up, your property tax will only go higher. Those who was able to buy a home are very lucky.😝

[@craigrodriguez8384]

@@jamesyeung3551 my wife and I are beyond lucky. It’s crazy.

[@craigrodriguez8384]

@@jamesyeung3551 also Fa sure felt the tax increase on my property.

[@solarlight10]

The gap between haves and have nots is increasing amongst the middle class. People who owned houses before 2020 are on easy street right now sitting on a beautiful nest egg, nice!

[@malcolmjames1161]

@@jamesyeung3551 its called setting yourself up not luck

[@dinrash7613]

Canadian real estate market is not free market. New house builds limited by quotes, those quotes spreading between "connected" builders. Result is obvious

[@PJ-isHere]

Get in the market, it only goes up from here. Supply < Demand.

[@jimhenley4938]

The worst argument for supporting current housing prices: My kids need a good inheritance.

[@gerryalbert1726]

I’m of

[@gerryalbert1726]

>

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[@crystaloelke298]

Anyone have any videos about what all levels of government could do to combat this crazy market? Small town? Provincial? Federal? I believe it will take many changes at all levels,

[@eagledice2008]

Yep you should have said Brantford houses are selling for 500K over asking even if you want to sell where are you going to buy it’s nuts

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Only a short airplane ride to civilization.

[@jacksonsanchez8075]

People will be kicking themselves in few weeks if they miss the opportunity to buy and invest in bitcoin

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True thought unfortunately.mine always ends up with losses😭

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[@d3m0n876]

How can people afford the property taxes on these?

[@parkerbohnn]

They can't.

[@stephanienguyen6992]

People are nut.......don't listen to agents as the bottom line benefits go to are brokers, banks and governments.

[@gabrielbrasil8916]

Real estate is still local and is uneven in Canada. I could sell one property in ontario cottage country that has gone up 4x in last 5 years and buy 4 single family homes in Calgary right now at the benchmark price. GTA and GVA have inflated dramatically while other parts of country haven’t done much at all. You guys never talk about that.

[@JJs_playground]

You're forgetting Ottawa, prices here are skyrocketing.

[@johnshields8555]

Many resale apartments in Edmonton sold last year for around $38,000 or around the same price of a cheap new car. I saw about 3 dozen of them sell right around that figure. Of course there's zero renters in Edmonton and at the lowest end there's no buyers as you have to put up 50 percent or more cash.

[@jondoe1828]

A trailer park home in NB went from 50 thousand to 130 thousand in 2 years..Blackrock?

[@dirtyburger7528]

Palm trees in Vancouver? Like what is this sorcery?

[@thestatslab2447]

It will eventually calm down and lots of pain this time on speculators side.

[@paulm2041]

The dream I was sold to as a kid is never going to be a reality.

[@ThisOldMan-ya472]

Stupid. Raising interest rates might push down housing prices, but the COST to the buyer will still be the same. This idea is similar to adding taxes, to push prices lower. Both ideas only damage the entry level buyers.

[@oliverclothesoff4142]

Interest rates 📌

[@dennissmith6739]

NO nothing else will work

[@SACREDFlRE]

Sharp guys 🔥

[@500demonking]

It be nice if rent for apartments would go down ppl are trying to make you pay 1600 for a shitty place thats falling apart others are nice but danm

[@ramd9532]

Same thing in calgary

[@barrycullinane]

Simple supply and demand economics at play

[@GenXnation1]

Polaritons could do the right thing but it would hurt themselves, much better to hurt others.

[@philmarsh7723]

runaway wealth inequality. Powered by zero interest rates.

[@redjetsen1002]

All those equity refugees...back when equity meant liquid assets. Canada loves other peoples money

[@adam.vision]

INCREASE SUPPLY !!!

[@parkerbohnn]

That drives home prices sharply higher because the Chinese buys all the new housing stock the second it comes up for sale skewing home prices sharply higher.

[@webdeuce]

Does Canada 🍁 know they don’t have an Obama to bail them out …. USA will find another Obama next election 🗳::)))) don’t follow us guys. We sthoooopid :))) smh

[@solarlight10]

Are we at a top yet? zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz Everyone is a millionaire nowadays

[@---zg7ex]

rich asian like chinese is buying up your places

[@clashwithmi2681]

China actually bought major stakes in Canada.

[@MaksimIzer]

people be like: thE craSH is cOMiNg xDDDDDDDDDDD

[@ilikeshroomgals]

“Nuts”

[@FunnyAsian00]

waiting for the bubble to pop be like 😐

[@vishfulthinker]

Bitcoin fixes this!

[@Sonido_Gringo]

If you lack the trust in a nation you shouldn’t buy Real estate in that nation. These prices are a reflection of: bottlenecks in chain supplies strict labor shortage due to lazy natives and strict immigration policies & low interest rates which only pours more gasoline onto the fire 🔥 You only lose when you sell at a loss in which case I’m happy that you lost because it only shows that you overextended yourself to begin with and don’t have the 🥚s nor the cash flow to hold.

[@parkerbohnn]

The simple solution is to bar ALL Chinese both local and foreign from buying then home prices would revert back to the locals non-Chinese income some 70 percent lower in price. In fact I could get a Nobel prize for this if it was enacted😁

[@jayantreddy15]

bains looks like a robot

[@nekola203]

How does increasing interest rates make buying a house more affordable? New buyers can't afford big mortgage payments and Regular people will lose their houses to the bank with those high payments and the investors, devs jump in and grab those houses. Steve is talking out of his ass.

[@johnshields8555]

Many buyers pay all cash so what they pay is a lot less if the price falls.

[@parkerbohnn]

You must have failed grade one math.

[@thelot9880]

Lol no conflict of interest asking these people😂

[@robnelson6545]

Maybe slow down the immigration?

[@parkerbohnn]

The problem is the Chinese all the immigrants Canada takes in are penniless.

[@steviesevieria1868]

“Irregardless” “anyways” …those aren’t words guys. Especially irregardless. That isn’t the word friend, go back to school and learn the language.

[@markmw123]

While money is cheap and Banks continue to lend then it’ll just keep growing 📈⬆️ sounds like ‘06-‘08 and remember what happened 📉⬇️ 😱 😱😱

[@bobpoop6025]

This is why we need communism.

[@danielmcarthur9004]

No we dont. You clearly don't know much about communism if you think the average person would benefit from communism.

[@bobpoop6025]

@@danielmcarthur9004 the current system does not benefit the average person. Ask any young person how they feel about this country. You will quickly realize that communism is coming.

[@danielmcarthur9004]

@@bobpoop6025 you are mixing up socialism with Communism and communism is never picked by the populace, it's always ushered in with force. Capitalism is not the problem. Mismanagement of funds and government oversight is the problem.

[@2xtreme4u2bme]

Communism sucks! Try moving to Cuba or Venesuela if you want to try Socialism, I’m confident that a couple of months there will surely change your mind

[@bobpoop6025]

@@2xtreme4u2bme lol can't afford a home in canada. Rich people own everything. It's time to get rid of them.