Canada Real estate market 'is nuts'

#RealEstate #Housing
There just aren’t enough homes to buy in and surrounding Toronto and Vancouver these days. When something does hit the market, as many as 50 buyers swoop in to compete for it which pushes prices through the roof. We’ve been getting monthly updates from the ground floor from Realosophy Realty’s John Pasalis and Oakwyn Realty’s Steve Saretsky, who help make sense of it all, with advice for anyone buying or selling a home. Also See: The latest real estate news for housing prices, mortgage rates, markets, luxury properties and more at Yahoo Finance Canada. They told us where they think Greater Toronto Area and Vancouver housing markets seem to be headed in the coming year. They also answered your questions about timing the market, interest rates, and government policies that could cool the market. If you have questions, email them to and John or Steve will answer them on the next episode. Jessy Bains is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jessysbains.

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  1. Buyers with 1 million budget F#$K that. Look at the AVERAGE Canadian earning per year it is basically 50k (THIS IS BEFORE tax mind you), serious budget for 1million most don't even have HALF. People do not even attempt to become buyers because they already know they are F$%Ked. Even shitty bachelor 350 sq foot condos are going for half a MILL, its NUTS.

  2. Out of control inflation is a big problem. Central bank needs proactively solve this problem at least follow our neighbor US fed increases interest rate, instead of doing nothing which is not a solution.

  3. You cannot have 400,000 new immigrants enter the country every year and flood the economy with billions in printed money and not expect a housing crisis. This dire situation falls squarely on the shoulders of the Trudeau government.

  4. Move to America; homes are going for 200k-300k in decent places. Canada is a false dream for young families and immigrants coming here. The government and Bank of Canada are in cahoots with each other to make more money off the overpriced homes, higher inflation raises…and even the eventual double bubble collapse that's coming too! Foreign investors and domestic investors flipping the homes over and over and also owning multiple empty properties shooting up DEMAND/SUPPLY even more; making the very properties themselves worth more too,…until it collapses, to normalcy. Trust me, move to America, it's what I'm doing. Let Canada screw itself, let the led on immigrants come here, and young families and citizens stay who think it'll get better…it WONT. Things always get worse before they get better….Make your money where there is more stable markets, and let Canada's collapse guys; then come back and buy it all for dirt cheap when it does. ((neat fact: Canada has over 1.2 million empty homes sitting for 'investment gains' from heightening Demand/Supply further)) So imagine: a country over just over 20 million has over 1 million empty homes. Canada has basically become a haven for criminal investment, all into the housing market. Robbing the regular citizens blind, to make the rich unbelievable richer. Sadly, those same parents will pass on the cycle of money to their kids (likely the 2nd, 3rd child now in this vicious capitalistic cycle), pushing the investment/buying market more into the hands of purely investors. We're talking about people who make money off homes now – who've likely never really even lived in the society EVER of the housing markets they mainly effect.

  5. It be nice if rent for apartments would go down ppl are trying to make you pay 1600 for a shitty place thats falling apart others are nice but danm

  6. So house prices now double every year, but wages stay the same? How can a person afford a $2 Million dollar first house if they only earn $50,000 per year?

  7. It's getting much worse and coupled with the inflation, everything is not twice as hard. Worse is, there's pretty much no hope in sight? Personally, I've been hit very hard and now more interested in a solution. What is the way forward for the less fortunate ones like me? How do we survive this phase? I am slowly losing my mind.

  8. I’m of <the opinion that those who leave it to market dynamics to determine when to trade or not are either new to the Market or are probably just naïve. The market has seen far worse times than this, enlightened traders are taking advantage of the dip even more towards trading sessions. My advice to new investors: More emphasis should be put into day trading as it is less affected by the unpredictable nature of the market. Trading went smooth for me as I was able to trade over 8 BTC when I started at 2 BTC in just about 5 weeks of implementing trades with signals and insights from expert David Mayor….

  9. There are mafias in the country buying tons of houses and condo throughout the province especially in Hamilton and Burlington

  10. I must say that knowing you is my greatest achievement in life, i receive my profit $10,000 successful, all thanks to Mrs Linda may God keep on blessing you.

  11. Likely we are nearing the end of the speculative blowoff phase. Liquidity is trending towards collapse elsewhere in global equity, real estate, bond markets. Buyer beware! A return to trend would be a 70% drop.

    I have a friend who was a millionaire on paper in the 2005-2006 U.S. housing market who bought a house, levered up and bought a rental on top of that, in 2004.

    Today, 2022, they are still paying off the debts from their massive losses.

    In booms, most of the money is made first by the public, on paper…
    …and it stays on paper.
    -Jesse Livermore

    One more thing – Canada might be entering hyperinflation. In that case, food, energy, and money that has not been inflated will return more than real estate. In real terms, real estate will still enter a bear market.

  12. Stupid. Raising interest rates might push down housing prices, but the COST to the buyer will still be the same. This idea is similar to adding taxes, to push prices lower. Both ideas only damage the entry level buyers.

  13. While money is cheap and Banks continue to lend then it’ll just keep growing 📈⬆️ sounds like ‘06-‘08 and remember what happened 📉⬇️ 😱 😱😱

  14. What’s the point? Canada can just freeze your bank and take your house because they don’t like the colour of your pants

  15. When real estate agents are saying interest rates need to go up to too cool the market – you know it’s a bubble.
    It might hurt, but it could save you hundreds of thousands by waiting 6 months.

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