Homes are Less Affordable Than Ever, Private Lenders Watch Out, 2023 Canadian Real Estate Market

High Interest Rates have made mortgage payments in Canada higher than ever. I compare payments now to the Feb. peak last year. Early data shows bank sales are rising and it's not the big banks leading the way. I also take a look at statistics from the Nova Scotia and Winnipeg housing markets, along with St. Catharines and Cambridge.

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[gurvindersran]

Thank god at least we have one honest realtor in Ontario.

[MeditatorsMusic]

Car Sales, Home Sales and Warranty Sales all have one thing in common … tactics…. Sales tactics!!! Personalized one ..! Thank you 🙏🏻 😊

[m.b]

From the Hawaiian beachfront, I did depart
And journeyed to Brampton with my heart
Though I paid double the price for this place
I found a home with a distinct, spicy grace

The previous owners' cooking still lingers here
A curry scent that fills my heart with cheer
In this old Brampton house, I feel no fear
For the aroma keeps me cozy throughout the year

The harsh Canadian winter tries to bring me down
But the curry scent wraps me in a warm, comforting crown
I revel in the beauty of this fragrant, homely town
And thank the previous owners for their gift, so renowned.

[ywdq]

Thank you for sharing the information that most realtors won’t share with us and we don’t have access to.

[indrajithabeysinghe]

Thank you for sharing honest information

[DA-ptem]

Great video as always. Pretty sickened that realtors are having training seminars on 'how to' create "urgency" with customers/ potential buyers. Nothing we didnt know already but so pathetic. Appreciate the info though.

[nickcheema]

Just give it time, people are in denial. Wait till middle of the summer and imo there will be a ton of homes for sale. Another interesting market is Woodstock, particularly the neighborhoods north of Pittock Lake. Many homes bought here were speculative purchases from Brampton and I think it's going to be interesting watching these homes sit on market at "make believe" asking prices. It's going to be a slow moving train wreck but if you're a patient buyer, you'll eventually get a good deal once sellers are hit with reality. Thanks for posting Jon

[mariamalshaer]

Hello John
Thank you very much for your efforts on making honest content on real estate. I see that not much said about the very low inventory. Does this not worry you enough to change the sentiment to Be Bullish?

[yashpatel]

You have a beautiful home. I just love that gas stove 😍. So many tasty things can be cooked using it ☺.

[MB-rzfx]

I live in halifax and prices crazy. Most people have government jobs with salaries around 60-80k. There is no way they can afford an 800k mortgage on something someone bought for 250-350k a few years ago. People are delusional.. I'm going to check out bank foreclosures or buy a yurt the way things are lol

[kajpaget]

Data data dat yum! Thanks for the great info!

[jessefaw]

In Hamilton and Burlington prices are still much too high. BIG property tax increases coming next year too. I don't understand how anyone can be bullish.

[susannicky]

Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market.

[nancy]

Can you analyze Montreal housing market please?

[cn]

5 year fixed rate is down below 5% now. You can get 4.59% now.

[pssongs]

The numbers speaks volumes about the psychological effect years of unaffordable housing has created amounts buyers. People still pile into the housing market depsite the decreasing trends. I would think this is due to the fear of being priced out.

[nielsbeck]

Can i ask how i find bank sales, and what are the stipulations, for instance do i have to pay full price, or can i still get a mortgage on a bank sale.

[ayounb]

As always..thank you Jon for your honest and fact based analysis instead of the false hype FOMO pitches we see

[glenf]

Hi Jon, an interesting fact in your FRM example is you would pay $100 less per month but pay twice as much towards principal in the lower interest scenario. You are also assuming a VRM with an adjustable payment with a variable rate (Scotia bank).

Principal payments on 5-Year FRM after 5 years:
2.8% $100, 800
5.5% $51, 000

Principal payments on 5-Year VRM after 5 years:
1.5% $91, 250
6.7% $49, 000

[scorpionbeware]

Please do analysis of Burlington, Waterdown, Hamilton, Milton and Oakville