Why aren’t prices falling? Why aren’t people listing their homes? I think it is easy to see why. But it won’t last too much longer.
Check out more on:
Youtube
Realtors Will Help The Bubble POP – Prices Will DROP
UCuR89X5z_mmglTJZudW3tzA
Why aren’t prices falling? Why aren’t people listing their homes? I think it is easy to see why. But it won’t last too much longer.
Check out more on:
Youtube
Realtors Will Help The Bubble POP – Prices Will DROP
UCuR89X5z_mmglTJZudW3tzA
property taxe : I found the answer (thanks google) Vancouver to the lowest tax in North America, a house of 1000 000 is taxed 2000 per year!
source : https://www.huffingtonpost.ca/2018/08/06/best-worst-cities-canada-property-taxes_a_23496904/
https://www.zoocasa.com/blog/how-property-tax-differs-across-canada-infographic/
Property Tax in Vancouver : could you contact Paul Sullivan
 http://www.bcappraisers.com/
http://www.bcappraisers.com/the-team/principals.shtml
about property tax and explain to us if there is a consequence for the owners to see the price of houses go up so high ?
I stayed at the following principle: you have a house valued at 400 000 you pay 1% or 4000 per year of taxes …
thank you in advance!🥇🖤
source :
https://www.vancourier.com/real-estate/opinion-property-taxes-squeezing-upper-and-lower-end-real-estate-in-b-c-1.23535848
To quote Mr. Lahey, "That's the thing about a shit rope, Ricky. The tighter you try to squeeze it to hold yourself up, the faster you slide down."
Always appreciate these videos.. Do you think cities surrounding Toronto, say within 1-2 hours (I live/work in Niagara region) will follow very closely to the drops in the Toronto market? Or would you expect a delay of some kind? I've commented before about how wartime homes in my city are selling for 300-400k, arguably double what they're "worth" because buyers from Toronto are buying down here with a fraction of the profit they made on their Toronto home sale. I've seen so many people I know buy property in the last 2-3 years and idk how they can justify it to themselves, you just don't get a lot for your money right now. Fingers crossed that there's a hard and heavy drop en route throughout Ontario
Property prices in some markets are very sticky and don't fall much. Instead, analysts use the yardstick of time to clear unsold inventories of developers to measure the extent of the bubble. Here is a link that shows 90 to 100 months (yes, months) to clear unsold inventories in major provinces of Thailand.
https://youtu.be/UWTOuBBwQxo
Good vid. I’m a Realtor and I felt the bubble starting to pop in Sept and the numbers now support it. We’re overdue for a correction. I now price listings based on current listing competition, not past sales
One thing I completely agree with you, Daniel. The bubble will burst when your channel will be viewed by majority of Canadians. They just don't know it should burst…You need to tel them, each of them:)
Does anyone else think that realtor couples look like the parents of JonBenet Ramsay in their pictures? My wife joked about it once, but I can't unsee it now.
Its slowly coming down in the US
I plan to wait 2 – 4 years or even longer if necessary. Strange thing is at the bottom, very few people want to buy. My friends didn't want to buy in 2011 or 2012 even they were in good financial position. They would wait until 2015 and 2016. It seems many people only want to buy when everyone is buying. But I still managed to encourage a friend who ended up buying in 2012 so I felt good about that.
realtors=snakes
Investors are still buying all cash multiple offers in Southern California
The Chinese are back at it again except instead of high end properties they are buying up middle market. The US needs to put some controls in place.
Good Vid Mr Fist. lol. The expectation is that credit will dry up as prices drop. Our whole economy – the TSX and the CAD is dropping, so I expect we will get trudie's immigration sell out full blast as our markets drop. Only criminals from "sh*t hole countries will have the cash to move here…and he just opened the door wide open to vacuum them in.
Excellent video
I don't think desperate people that have to sell are gonna appear like a red flag sale….most of those sellers are always out there. They have to be sniffed out. Just because they are desperate doesn't mean they aren't hopeful.
You can’t escape real estate videos
The layoffs are starting, they will peak in 2020. Speculation + job losses has never been good for housing. Right now, I'm seeing about 50% of the homes being built/bought are going to speculators who bought in 2016/2017. These speculators are renting out $800k houses for $1800/month, which assuming $200k downpayment means they are losing about $1600/month. The speculators are holding on for dear life hoping the market will turn around in a year or two, because they are underwater big time. I'm not sure how long they can rent out at a loss, when they start going bust it's going to be bad.
Well said .
Do you think the surrey market will still have the same effect? I have been trying to buy a 1 bedroom condo in surrey and it has been selling above asking price, around 1 to 2 year old with 300k range
Real Estate agents are friend going up, help going down.
Hey, where's Ivan these days? 🙂
Daniel, you remind me of Steve Perry when he had that terrible mustache.
If people are asking you from this channel why the bubble has not burst yet? But you said those that follow this channel know the trends.. kinda contradickied yourself.
Forma.. this video should of been put out months ago as everyone now is aware prices are not what they were at peak prices. You sir are late. As you said vancouver is in the leg downnn portion in the market. But, it's just not quite what you hoped for with this massive drop off..40% correction. This is the leg down portion now. Maybe 10% max to go depending on location. Vancouver is one stubborn expensive beast.
i thought it was El Chapo behind you.
I want more sunglasses ! What happened to the sunnies
Agents aren't doing this out of good will.
In Toronto it doesn't feel like major correction, New developments are asking more than current inventory prices based on expected prices at delivery time. They are not offering major discounts or incentives. I like your comments based on research, If possible can you give your viewpoint on pros and cons of purchasing commercial vs residential property for investment purposes.
Lots of overpriced homes have come on the market here in the US as of late. Some of the houses that did not sell have been taken off the market…sitting empty. Spring will bring rain and tears.
Thanks, Daniel; another inspiring video! As usual, I have posted it on "Metro Vancouver Housing Collapse"…
I work in the public sector and everyone I’ve talk to or talk too. Thinks RE will keep up its uptrend come Spring. Sigh
Who Neil . But what your saying makes sense.
Nice video Daniel. 2019 is definitely the year that these real estate markets worldwide start heading down. The gathering storm cannot be ignored. The smart money got out 12 months ago. Now it’s a matter of patiently waiting.
I guess I didn't realize I was a "normie:… you know, actually researching the market without thinking about doing ANYTHING without moving…. Wow. Do people actually not know what they screwed themselves into, or are they waiting for someone to hold their hair back when they spew, not knowing that they are ready to barf?!??
Mustache swag – check
Real Estate science to drop – check
Confirmed new FORMAFIST video
My experience from Spain is the proper market who will force them to loose expectations.
RE is very illiquid , take time for the sellers to get a client .
The force ones (debt, loose job, death…) who need quick sell , will be the ones who drive the prices down .
Now we need to wait until families start to fail payments and banks close the renegotiate options.
That will be the key for quick drops .
Let's wait and see
"And yes, this is Neil Peart"! Awesome drummer! We shall see what happens over the next years to come!
Everyone knows that real estate prices go up 20% a year forever….
So buy NOW or you will DIE……
when 2% speculation kicks in in 2020, the pain, i can imagine
I dont think real estate agents cause markets to go up and down…they have no control over market forces 🤔
All true, but I scan Vancouver realtor videos from time to time looking to see if they are in fact changing their tune, and from what I've seen it's still something like "the market has shifted" type stuff. Yes, better than FOMO but still obviously not clear enough. Nevertheless, there are quite a few price reductions happening, as per this site. https://myrealtycheck.ca/
YOU HAVE GOOD TASTE IN MUSIC