Are We Headed For A Crash?

Lots of doom and gloom out there these days. The sky is falling and both Real Estate and the stock markets are in an epic crash. As far as Real Estate goes, market predictions are all over the road. From a 35-40% drop to a small gain of 5% over the next 12-18 months.

Thanks to all the viewers and commenters on all my videos. As a busy Realtor I may not have the time to reply to all comments here. Some of your questions can be answered by going through my many videos posted here on my channel. But I will do my best to respond when I can. Appreciate everyone who is watching and commenting!

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Thanks for watching!

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OWEN BIGLAND
MACDONALD REALTY WESTMAR
c: 604.889.1118

2018 - 2021 Medallion Club Member. Top 5% of Greater Vancouver Realtors
2018 - 2021 Macdonald Realty Westmar - Top Producer in Annual Sales
2017 - 2021 Macdonald Realty Westmar - Outstanding Performance & Achievement in Real Estate Sales

VANCOUVER BC HOMES & CONDOS
GREATER VANCOUVER BC REAL ESTATE FOR SALE

Watch more in depth topics on real estate, investing and my book in these PLAYLISTS:

[ritahogikyan]

Hello Candyman, I have listened to many of your Amazing information videos. I hope you can spare 5 min to give your experienced advice for a starter like me - to buy a 3 bed 2 bath Townhouse in North Burnaby or Port Moody ( planning to live in it for 1 year then renting it out and buy another home for my family - which is easier to rent in your opinion ?

[joelmcneney]

Inflation and Variable mortgages without fixed payments, are starting to hurt regular people for sure. Talking to some friends who say their mortgage payment is up $1300 a month....Yikes.. These are regular working people.

[rezar]

Thanks for the awesome video!! Appreciate the sound advice!!!

[tolyakir]

Owen, just curious, do you have fixed or variable mortgages, and what do you think about the idea that variable always wins in the long-term?

[Wellspring]

I have a variable mortgage on a rental property that may hit the trigger rate soon. I'm not sure what to do - lock in, increase payments, lump sum payment, or let it ride out? Thanks for the solid advice, Owen!

[tuanis]

This is the time/chance to get into a property (investment/principal one). Have higher payments now (but in a few years rates may differ upon renewal) but prices are down, saving lots.

[chazbanks]

Owen, what would your advice be for a young couple, who just paid off their mortgage on a 2 bedroom condo. No debt and mortgage free. Would buying a rental property be advantageous in this market, or would it make more sense to upsize into a detached with a rental suite?
Thanks Owen!

[mehrdadnaderian]

Hi Owen
Thank for good video, I have a question: what’s your opinion about buying detached house or condo in Vancouver for investment in this market

[johnnyboyvan]

At 1 million a hundred Sq ft in Monaco 🇲🇨, Vancouver is a bargain. Woo hoo!!

[jeffdavis]

Well if you bought in the euphoria of March-April in East Van... you've been in a crash.

[chrsf]

A crash ? Never. Unless the Federal Reserve re-jigs everything lol

[Rolandinos]

Hi Owen, what are you doing with your variable mortgages? i have a few and kept them as is, one of them has increased substantially in monthly payments where the other ones have decreased the principal pay-off.

I don't want to lock in a fixed at 5+% right now so I am just gonna ride the wave.

Your thoughts?

[tmacbronson]

The national estimates are limited value IMO because things will vary so much from area to area.


One thing of note. It takes less of a drop to cancel out a gain. For example.

A million dollar house increases to $1.5M.

It takes a 34% correction to cancel out that 50% gain.

[derekbaker]

It takes a 34% price correction to wipe out a 50% price gain. A 40% correction leaves you under water. The Fraser Valley detached is already down 15%+ and I see Vancouver detached dropping fast as well.

This feels like a sales pitch. But your long term strategy seems like sound advice. Hard times are coming. We will see a 30-40% increase in mortgage payments in 3 years when we renew if this keeps up.