Canada’s Real Estate Sales Plunge! BIGGEST DROP SINCE 1989! Toronto and Vancouver Meltdown!

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Sources Used in This Video:

[gajjthein]

A rise of 15 to 20 percent is only pennies on the dollar to these rich foreigners. Hell ... They pay cash for these homes... How does anyone compete with that... It is just a sad state of affairs not just in Canada, it is happening State side as well.

[Symbolicliving]

I know someone in Toronto that has a townhouse that is in a neighborhood run like condos so there is a monthly maintenance fee. When they bought a couple of years ago they expected prices to go up a lot and they have, but with renovations still needing to be completed (and paid for), by the time it is ready to sell again, what it will be worth is a big unknown. With the added cost of the renovations and that annoying $500 extra cost for sub-par maintenance services, it just sounds like a mess to be stuck in to me.

[shaykespeeer]

Canadian real estate is way, way overvalued in many areas. It's about time the bubble popped.

[youknow]

Thanks for all your hard work putting the videos together!

[aerogear]

If these chinese stop buying real estate will crash 50 percent in some areas

[subvertmedia]

Great video. I've been warning Canadians for some time now. Everyone is in denial. Thanks for helping to get the truth out there.

[seerguru]

Someone asked if I have evidence that the poor are getting poorer ❗️seriously ! Wages have been stagnant since the mid 1980’s. Matter of fact my boyfriend in 1983 made $18 an hour at the grove store now that same job pays $12-14!! All awhile housing was 10 x cheaper and groceries where 25% less ham today .
Like the Great Depression . The rich are getting richer and the poor are getting poorer . Look at your friends and family . How many are middle class ? Many are broke and a few are doing really well . Yes ?

[MrOttobock]

Rising house thing.  People ave way to deep in housing debt and rising house prices drives up the rental prices also.  Here in Ventura County Ca. a 1 bedroom apartment is $2000.00  Folks making an average income use at least 60% of their take home pay on rent.  I own but if the housing bubble burstsI won't mind(I could reassess my home), eventually rent prices should drop also.  Unfortunately those going upside down with their mortgages may turn to rent and that may put a greater demand on rentals.

[lynnk]

I’ve been a Toronto realtor for 32 yrs. The main issue has been low interest rates. Canada has become increasingly known as a desirable place to live with relatively inexpensive real estate compared to other world class cities, which has also increased demand . The demand outstripped supply & has caused a melt up in prices.
Canadian banks are concerned. Buyers are now required to qualify a stress test, which essentially asks if a buyer can afford a higher interest rates.
Pay attention. Banks are expecting rates to go up and a downside to the real estate market and they don’t want to get caught as they did in 1990. As a consequence, fewer buyers are qualifying & the supply/demand balance is changing in favour of buyers.
If you’ve been thinking of selling, now is a good time to give it some serious consideration.

[markpaintner]

Banks do not want to loan money for Housing, especially middle income.

[theeffindip]

I'm hoping rents will go down in US soon.

[bloodbought]

Im in small town  alberta and my property is going down in price every year, I could not  not replace for what its worth now.

[tphone]

Selling and Prices are affected by politics, taxes and returns after paying interest.
Building Costs are affected by labor costs, land costs and energy costs.
Politicians think they can raise any factor until the straw breaks the camels back.
Then, with less property taxes, transfer taxes, building and realty jobs, lowered assets
empty units, the rich suffers BUT the poor suffers MUCH MORE. Its just another
version of socialism. Investors all over the world today can often escape their
net unlike the old days, to another city. These politicians are NOT donating their enriched pay to society when their meddling fails (except the USA President).

[kmax]

When one "gets a loan" at a bank for a mortgage, they are not loaning you a thing. You sign a contract agreeing to the terms in the contract. They then give to you a warranty deed. Then the bank creates an account for you in their bank. What a person is actually doing when signing the mortgage contract is to pay the installments to the bank, plus interest. The Bank didn't give you a damn thing, but a contract where you agree to give them cash thru installment payments. The warranty deed (which you signed) is then monetized and used as the instrument for further fiduciary workings.

[russellstauffer]

The West Coast housing market is a bubble, and nobody can afford any of it. Portland, Seattle, Silicon Valley, LA, San Diego, all are overpriced thanks to China.

[seerguru]

Ca has barely any inventory . Supply and demand issue . Rich are gettin richer and the poor are getting poorer

[winnersedgeinternational]

Good we need a housing crash so poor people can buy houses.

[eurosensazion]

Where is our market cooling off? Prices are same and even rising just less inventory on market. Vancouver is still growing like mad. Toronto is slowing but not prices and condos have shot up downtown to ridiculous levels. It's not even worth living in Toronto, Vancouver and surrounding area. I'm thinking off selling and moving out of this country actually as a early 30's millennial. The average price in my municipality for detached homes is $1.4 million. A new or up to 7 year home 2800-3400 sq ft 45x90 lot detached are going over $2.2 million. China factor.

[habanerojalapeno]

honestly job market really sucks
so who is gonna pay for 25 years mortgage payment
good luck canadian🤣🤣😂

[aware]

They just need to tax foreign investors big time