Is the housing market crashing? with Hilliard Macbeth

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In this live stream, we talk about Hilliard Macbeth's predictions about the Canadian housing market and the Canadian economy. I will pick your questions from the chat so please chime into the chat. This is a live stream that you will not want to miss.

Hilliard is a 43 years investment advisor, and author of 3 books on finance and bubbles, latest is the 2nd edition of "When the Bubble Bursts" available for sale on the Amazon link below. He has been featured on BNN, Bloomberg, CTV, etc many times. The first book was "Investment Traps and How To Avoid Them" in 1999 which warned of the overvaluation of dot com stocks during that bubble.

0:00 - Intro
2:20 - Everything chart
13:20 - Mortgage fraud
18:40 - Variable rates
23:40 - Bank of Canada stress test
27:20 - Mortgage defaults
31:44 - Sub prime in Canada
40:30 - Common mortgage fraud
45:00 - Banks how they work
48:00 - Credit conditions change
55:50 - Mortgage lender Magenta story

#Inflation #CanadaHousingBubble #HousingBubble #RealEstate #HousingMarket #RealEstate #Inflation #Macro #Economics #Recession #LeaveCanada #InterestRateHikes #BankofCanada #BondMarket #BondMarketCollapse #Debt #HousingMarket #PeopleLeaving #BoycottCanada #Inflation #BankingCrisis #Taxes #Recession #HilliardMacbeth
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[briancarney]

Great platform for real estate and Canadian economics. What a fabulous guest Mr Hilliard . Wealth of knowledge

[Kowsan]

Excellent graph explanation by Hilliard ! Great guest and I bought the book and look forward to reading it during my trip to Toronto area

[gimusk]

Excellent discussion, thanks for posting my good sir!

[SuperStunningdunning]

First of all, thank you for providing Canadian content. However the audio was painful.... great guest

[bealssnow]

Canada housing market needs to drop 80%+ not 50%

[claudetteleece]

Think many folks don’t want to know the truth about finances, they would have to admit they caused their own demise by not doing their due diligence. Easier to blame everyone else

[zomgoose]

The increase in principal for housing is a huge misallocation of capital. Responsible homeowners had the ability to pay off a house in 10 years. The RE industry ignores this simple calculation.

[MarketManiaCA]

Follow Hilliard on Twitter @hmacbe | Also check out his book on Amazon link in the description. I've also added chapters

[luckyPiston]

Low interest rates was supposed to stimulate the economy but instead it blew up the real estate market.
Those low interest rates should hav only been available to people who created jobs for ether themselves, others or a combination of the two, How's that for an interesting concept ?

[luckyPiston]

8:33 .. So when calculating the CPI the shelter component should be adjusted to compensate for the low monthly mortgage payment price to better reflect the financial pressure a person is under.
So people with 5-6k monthly payments on a over priced 1, 000, 000 $ home should actually be paying double that if interest rates were where (much higher) they are supposed to be.

How the fuc does this siuation get corrected !?

[jasonlahey]

I remember the days too when having to get a second mortgage was like a faux pas.

[dman]

Good job asking about Magenta lending!

[seanbelford]

Great chat thanks for posting. That chart hurt my eyes

[Chris-senc]

Since RRSP is not able to be seized in a bankruptcy, take out that large HELOC. Put it all into RRSP, sit back and declare bankruptcy. One way to get your “equity out” lol

[edt]

Thanks Luke, great show. Would love for you to do a show (series) on personal bankruptcy and short sales (a la Scott Walters). Basically options the masses have when they are jobless and upside down on their mortgages.

[numberwang]

Again, late to the party...I'm as laggy as Stats-Can!


14:44, this sounds like predatory banking! WTF! A second mortgage indeed. Debt is so glamorous, f&%k ya!! It's akin to offering partnering credit cards with variable credit limits that increase by the magnitude of payments made on a different credit card! Who would go for that?

A so-called "stress-test" that isn't fit for purpose, yet people anyway lean on it as though it was some kind of pillar guarding the finances (especially realtors fooling themselves, not to mention buyers). When did the banking sector/government go full on sleaze-bag used car salesman? Just jaw dropping what I am hearing. I am seriously curious how the F all this happened?

Thing is people have not only been greedy/stupid, but they have been led down the garden path, by those whom they depend upon for guidance. Seems like the Gov't and banks have become utterly exploitative, duping people into schemes they would certainly have known they do not understand.

I noticed as well, even now, still, realtors are talking about "deals" like down from 1.6 million to 1.2 million...as if it was somehow normal that a crap 1970's bungalow (not actually worth more than 200, 000-300, 000$) somehow merits the price tag.

Looking to get out of the EU before WWIII, but starting to wonder where to go since "home" is truly no longer an option.

[mrguiltyfool]

That's so 2008 will be the next catch phase lol

[bonbon]

Saying Rates staying low from cb then hiking means cb wants you to go bye bye 👋

[shakazulu]

Massive disaster is on the way!! My karma spells on all those who stole homes after 2008 are working! Praise be!!😄