Canada Real Estate Crash – Losing $100k First Time Home Buyer



The Canadian Housing Market Crash Is Happening & This First Time Home Buyer Just Got Screwed On A 1 Million Dollar Property Losing 100k . Canadian Real Estate Crash These Are The Stories Leading To Lawsuits You Need To Hear!

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25 comments

  1. The people who bought apartments and townhouses in Edmonton in 2007 are still down 50 percent 15 years later. These stories for some reason never make the headlines. Put another way if someone bought 10 million dollars worth of townh9uses and apartment s in 2007 if they sold everything today they lose 5 million dollars plus rents barely went up in those 15 years and of course there's no renters so every year would be a negative cash flow and Revenue Canada would disallow all the losses on the rent each year. These stories never make the headlines.

  2. On one hand, I feel sorry for people like her. On the other hand, I think these people asked for it (and probably deserved it) after pumping this market so badly and taking part of those stupid bidding wars. This whole thing crashed dreams of many first time home buyers. Finally things start to normalize and for the vast majority of people and their children it is actually a very good thing.

  3. All right let's be realistic about what's going on what goes up must come down eventually look at inflation look at wages a million dollar house I'm in Vancouver houses are going for 2 million dollars a piece just for a tear down the point housing has gone far too high for the last 30 years or so it has gone eat exponential you could buy a condo in Richmond back in the 1990s for about $50,000 the same condo will probably go for half a million dollar if not more probably $750,000 if not more however have your wages gone up from what you're making now from what you were making before have they followed inflation we share politicians getting wage hike in the meantime the average income has not followed inflation the housing market is about 10 to 15 times higher than it it's supposed to be except it's gone up and it took about 30 years to reach that level people haven't realized they're starting to feel the weight of it now because their wages are kept up for a long time basically all Canadian should be making about 50 bucks an hour just to keep up with the freaking housing market it it doesn't make any sense well we're looking at the real estate in the states let's say in Alabama house going to cost you $150,000 $100,000 we look at the real estate in Ontario BC and other provinces your house is reaching close to a million dollars what about the standard wage my parents managed to afford a house how is it that people cannot afford buying a house right now something's got to give either housing's got to come down or wages are going to have to go up if none of these factors happen then you have a potential implosion happening basically recession or depression there's a reason why this happened is because the market was left open and uncontrolled for x amount of time politicians real estate Realtors banking institution have blindly taken the money we had in Vancouver people bringing suitcases of money to gambling establishments without any questions think about it this thing is far too high right now and it's about to come down eventually it's all the flippers that are buying and selling these places and making the money on them as investment real estate not to live into it but to sell them back these are the people that are probably going to be the first ones to pay the broken pot it's going to say that this lady is having a hard time now I would hope that she would find a suitable place however with everything that is happening globally right now the only thing I would be interested in would be into land and I'm not even sure if I want to buy in Canada far too expensive far too high it's about 10 to 15 times higher than it actually is supposed to be your standard house in Toronto Vancouver probably would go for 2 to $300,000 if you were to go let's say and standard normal prices however the market has been living an inflated prices for the last 30 some years actually accelerated more like around 2010 2008 this is when things started going insane people got used to this numbers and doctrinated into the scenario and believing that the housing has to be expensive and now people are waking up to the reality that they've been duped

  4. If you can only put 5% down it means you CANNOT afford that home….20% is a minimum period. by the way what the hell is she doing being a million dollar home…what kind of job does she have to afford a million dollar home ? most Canadians are so absolutely clueless, just like herself.

  5. A nice 50m2 1-bedroom in a 6-floor building with indoor swimming pool and sauna and underground parking and power included with hot water and heating&cooling included in the maintenance ($250/mo) was 106 k in 2006 and sold again for the same amount (106k) in Q1 2019 (in Montreal's Brossard suburb, with no less than 5 different routes into Montreal… maybe even 6). Buildings should DEPRECIATE since aging takes its toll and building anew is often better than repairing. In a perfect world, everybody should have a guaranteed place to live of reasonable space. A 25 m2 Spartan apartment should be easy enough to mass-produce and assemble like Lego to be installed and removed or replaced as needed. Flexibility and speed to adapt to the needs of the time of the society which proclaims itself to value life and reason… is Mandatory. It's that, or we continue to live like primitive (I don't want to insult the noble races of monkeys or apes….)…. which traded a real jungle for a concrete one, which prefers to kill the weak by leaving any ape unable to work to die of hunger and exposure to the harsh climate where he was grown to work on the cultural farme/fermeture/farmaturagee… Si?… i meant… We?…. no, no, i am sure it's… Ouieee?

  6. agent and brokers aren't excessively 'lazy' – they start to get excited thinking people will lose their homes and dream of getting something cheap they can flip after some years. Once they see that possibility they will do whatever they can to help people fail.

  7. 99% chance the broker waited to do the appraisal rather than doing it at the time the offer is written. Meaning what she thinks is two different issues is likely just the same one. She should have hired better professionals and understood the risk she was taking writing unconditional offers.

  8. Seriously? Do your homework. This all started in 1996. BUT NO ONE WANTED TO LISTEN. Thank your government and real-estate agents. What in the hell do you think would happen when you have to remortgage that house in 5 years when interest rates could be 10%.

  9. They're going to take everybody's money one way or the other I feel sorry for the young ones trying to buy a house now I lost mine after workplace accident I know how it feels

  10. I think the inflation we’ve seen as of late is merely from supply chain, we’re just starting to feel the actual inflation from money printing affects starting now. Thoughts? 🧐

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  12. Haha it's her fault for not having any financial education. If you just follow whatever people tell you and never think for yourself, you will lose in life.

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