No Buyer Is Bailing These Homes Out (Peel Region Real Estate Market Update)

This episode shows the current Brampton, Mississauga, Ajax, Whitby, and Pickering Real Estate home prices and market trends for the week ending Jan 8, 2025. We also discuss how people have virtually no equity left in their property, leaving the option of selling a difficult one.

This video will focus specifically on Brampton, Mississauga, Ajax, Whitby and Pickering but be sure to SUBSCRIBE for more reports on other areas!

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Santo Sessa & Daniel Sessa
Re/Max Premier

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*This video, nor any of the other videos on the Team Sessa Real Estate YouTube channel, does not constitute legal or financial advice. This is strictly intended for educational and entertainment purposes only.

[JosefMouris]

Don't simply retire from something; have something to retire to. Start saving, keep saving, and stick to investments.
Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.,

[zooeyboy]

The question is, why are these people selling so soon after buying? Maybe some job loss or relationship problems, but I'll bet a fair number over-extended themselves to buy as a speculative investment, expecting >50% yoy growth. How many bought for this reason determines whether this extreme price appreciation over the last 15 years is part of a bubble or not. For my money, I always bet on greed, and things are going to get bad now that the party is over.

[ianwally]

In the 80’s listings used to list the mortgage amount on the property, made it easy for a buyer to decide if it was a property worth offering on.

[richardrestall]

Very clear explanation of the Peak Buyer dilemma. Thank you.
Bankruptcies and heartache are coming for not only the over-extended peak buyers, but even people who just could not forsee the future cost of food, which is all of us.

[jeffotoole]

What fixes all these situations is one word.
Bankruptcy.

[gimusk]

The muppet boiler room condo flipping market is dead 😂

[parthppatel]

Why would any buyer bail out a stupid seller who bought at higher prices AND KEPT OTHER BUYERS OUT of the market due to their foolishness?!?!

[louismartin]

Let them wait more and lose MORE! Can’t fix stupid

[TheTruth-cgvj]

Wait until the market reverts to cash only because the banks are afraid of taking on anymore RE loans, just like the US circa 2008. Of course, when the CAD to USD, ratio goes 3 to 1, that should soften the sting

[rory]

I was in TO from Ireland in summer 1998, I was in the process of buying a house in N.Ireland at the time for £50 thousand, at the same time, new Condos at Yonge and Finch were Can$99, 000, or £40 thousand pounds, boy do I regret not buying the condo then!! You live and learn 😂

[branttrainstation]

This is happing here in Hamilton, still, FOMO is still being used by agents, homes selling unrenovated four or more years ago going for max price, now homes that need 100K in renovations are being hold out for that buyer that will buy at max price, my wife an I sold our home in 2019 just as the prices were rising fast, we couldn't buy, we ended up in apartment, now after six years I'm given up, they no way we can get a mortgage, they no way we could afford a mortgage and taxes an utilities and maintenance, no their not going to be a housing crash, as others say there going to be,

[scbs]

if they sell they are servicing a debt for not asset, nothing, very hard to deal with.

[TookAHikeNowWhat]

Help & good conditions entering the market... and want help & good conditions when exiting the market... AKA "Have your cake and eat it too". There is a special room for these people.

[Saywhatohno]

I think you made a very good point, why would buyers sell and still be in debt, they rather have it foreclosed and default on their debt and go to a different country and start new. And I think that is also the reason why the house prices have only come down as much as they rose in Covid (20% down). For the prices to go lower than that the people would have to walk out because why would they be in debt like you said.

Also even if we take 3% appreciation annually. You can do the math how much your property would be worth in the next 10 years. Prices for all goods go up. It’s called inflation. Sure drop the market by 20% and take a 3% increase per year.

[alil]

Let those peak buyers go to their realtors question the reasoning behind the push to buy when the economics dis not make sense. Life is a lesson and these sellers are now learning the lesson of fomo

[johnnycroat]

Keep in mind when they sell at 25% less then they paid but they will purchase something that is 25% down from when they bought so its a wash

[geralddegraaf]

I've seen this with new home builders. They paid a lot for the land and took so long getting permit (after approval), and now the selling price is less that the mortgage payment (for land) + build cost.
Guess they hold onto the land.

[primeartifacts]

Bankruptcy is the key in situations like these. There is no other way out.

[HelenTaylor-fd]

Thanks for sharing such valuable information! A bit off-topic, but I wanted to ask: I have a SafePal wallet with USDT, and I have the seed phrase. (behave today finger ski upon boy assault summer exhaust beauty stereo over). How can I transfer them to Binance?

[sam-rvlv]

FOOP is real, and there is no more real FOMO anywhere in the buyer cohort.