Canada’s real estate correction is far from over: Oxford Economics 

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So true! Think about pressure on the healthcare system and housing. Little is done to mitigate the impact of immigration on these 2 critical areas of society. I am an immigrant too and do not oppose immigration but room must be made to accommodate newcomers into this country, so they don’t feel disappointed or deceived. Honestly! Canada right now is survival of the fittest. Wish all our new Commers good luck 😉

Many immigrants leave Canada because they sold all assets from where they moved from to have nothing here but stress and debt.

400,000????? You must stop believing the Liberal lies. Official 12 month numbers released by Statistics Canada in May show population growth of 1,200,000 approx with 96% of it from inflation. Much, much worse than we are led to believe with promises by new Immigration minister that he will beat the last ministers number by a country mile. We are in a race to oblivion. I should not care as I own a bunch of rental properties clear title but I care about what is happening to my country.

Issue is Canada birth rates are extremely low. Well below replacement value therefore immigrants are needed and they're needed badly. However it's not a black and white issue. I can't say whether 400,000 is enough because one needs to breakdown that number much more to determine if it's beneficial or not. It's not as black and white as people would say.

@@nbasingh low birth rates are a function of an issue but not the issue itself. When polled most women say they want more children but cannot afford it. If this was addressed there would be a natural increase which is more manageable. However the immigration system isn't natural, it's a wave of hundreds of thousands who immediately require services which means it unsustainable. In this way, government is failing their people.

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MAD shifts take an average of a decade of your life.

@donm2067 yup figure I'll stick it out for 1 more year been doing it for 8, I work with guys who have done rotations for 20 years, no idea how they managed it

Hi Guys, Please let’s gather this coming Wednesday August 9th for our regular outdoor soccer practice Starting Date : May 21st Ending Date : TBD Time: 6pm Venue: 500 THE EAST MALL ETOBICOKE, ON The Team Manager Habib to update you on the summer program with the tournaments and friendly games. Stay tuned!!!!!! NB 1: Bring jerseys, outdoor balls & soccer shoes NB2: Bring any refreshments you’ll like to share with the rest of the team *Please be on time due to early sunset* KapiHi Guys, Please let’s gather this coming Wednesday August 9th for our regular outdoor soccer practice Starting Date : May 21st Ending Date : TBD Time: 6pm Venue: 500 THE EAST MALL ETOBICOKE, ON The Team Manager Habib to update you on the summer program with the tournaments and friendly games. Stay tuned!!!!!! NB 1: Bring jerseys, outdoor balls & soccer shoes NB2: Bring any refreshments you’ll like to share with the rest of the team *Please be on time due to early sunset* KapiHi Guys, Please let’s gather this coming Wednesday August 9th for our regular outdoor soccer practice Starting Date : May 21st Ending Date : TBD Time: 6pm Venue: 500 THE EAST MALL ETOBICOKE, ON The Team Manager Habib to update you on the summer program with the tournaments and friendly games. Stay tuned!!!!!! NB 1: Bring jerseys, outdoor balls & soccer shoes NB2: Bring any refreshments you’ll like to share with the rest of the team *Please be on time due to early sunset* KapiHi Guys, Please let’s gather this coming Wednesday August 9th for our regular outdoor soccer practice Starting Date : May 21st Ending Date : TBD Time: 6pm Venue: 500 THE EAST MALL ETOBICOKE, ON The Team Manager Habib to update you on the summer program with the tournaments and friendly games. Stay tuned!!!!!! NB 1: Bring jerseys, outdoor balls & soccer shoes NB2: Bring any refreshments you’ll like to share with the rest of the team *Please be on time due to early sunset* KapiHi Guys, Please let’s gather this coming Wednesday August 9th for our regular outdoor soccer practice Starting Date : May 21st Ending Date : TBD Time: 6pm Venue: 500 THE EAST MALL ETOBICOKE, ON The Team Manager Habib to update you on the summer program with the tournaments and friendly games. Stay tuned!!!!!! NB 1: Bring jerseys, outdoor balls & soccer shoes NB2: Bring any refreshments you’ll like to share with the rest of the team *Please be on time due to early sunset* KapiHi Guys, Please let’s gather this coming Wednesday August 9th for our regular outdoor soccer practice Starting Date : May 21st Ending Date : TBD Time: 6pm Venue: 500 THE EAST MALL ETOBICOKE, ON The Team Manager Habib to update you on the summer program with the tournaments and friendly games. Stay tuned!!!!!! NB 1: Bring jerseys, outdoor balls & soccer shoes NB2: Bring any refreshments you’ll like to share with the rest of the team *Please be on time due to early sunset* KapiHi Guys, Please let’s gather this coming Wednesday August 9th for our regular outdoor soccer practice Starting Date : May 21st Ending Date : TBD Time: 6pm Venue: 500 THE EAST MALL ETOBICOKE, ON The Team Manager Habib to update you on the summer program with the tournaments and friendly games. Stay tuned!!!!!! NB 1: Bring jerseys, outdoor balls & soccer shoes NB2: Bring any refreshments you’ll like to share with the rest of the team *Please be on time due to early sunset* KapiHi Guys, Please let’s gather this coming Wednesday August 9th for our regular outdoor soccer practice Starting Date : May 21st Ending Date : TBD Time: 6pm Venue: 500 THE EAST MALL ETOBICOKE, ON The Team Manager Habib to update you on the summer program with the tournaments and friendly games. Stay tuned!!!!!! NB 1: Bring jerseys, outdoor balls & soccer shoes NB2: Bring any refreshments you’ll like to share with the rest of the team *Please be on time due to early sunset* KapiHi Guys, Please let’s gather this coming Wednesday August 9th for our regular outdoor soccer practice Starting Date : May 21st Ending Date : TBD Time: 6pm Venue: 500 THE EAST MALL ETOBICOKE, ON The Team Manager Habib to update you on the summer program with the tournaments and friendly games. Stay tuned!!!!!! NB 1: Bring jerseys, outdoor balls & soccer shoes NB2: Bring any refreshments you’ll like to share with the rest of the team *Please be on time due to early sunset* Kapi

@@Moonmaster85 the old timers are fvcking idiots, but they also go paid more and had better pensions/benefits.

Well said that’s the truth right there

Yes and this is one of the reasons why the prices rise. Because 3 families can afford to buy the 1.5-2 million dollar home with the 6000 a month mortgage. Long time Canadian citizens do not live like this. If an individual doesn’t own a home now they will be forced to live like this in the future, unless they take proactive measures for their kids now, and buy into the market and get them a home for their future. Instead of paying for college or other things, buy them shelter so they can have a good place to call home.

@@oz6123yes. I have seen it being done in Kelowna bc now for 10+ years. Gotta buckle down and be smart to secure your future. If prices drop what this guy says I will be buying another home.

When Trudeau got in, I was fairly sure canada was on its way out.

Three families per one household, 35% percent Canadians don’t have mortgages, 30% have mortgages but 20% of those have locked in mortgages till 2025. Must have been good Mary Jane you had before the interview

@@oz6123 plus the older family members receiving Pension from the govt

Cope

We’re not in recession yet. Playbook is to cut in a recession to pull us out but they’re not done fighting inflation.

Media and government CAN’T BE TRUSTED PERIOD!!!!

That's for sure. It's crazy low rates for a historical long period of time that put us here. Investment purchases have never been so hi as the last 10 years.

This guy must be a Trudeau Liberal advisor because he is so dead wrong and off base it isn't even funny. No mention of 1.2 million population growth the last year and even higher numbers to come. Housing inflation has to continue based just on immigration policies vs housing starts which will fall even more with higher rates for longer. People who can - will pay for a roof over their head somehow. Rents are so high that being a landlord is very lucrative and rents will get even higher and people will move even more than in the past for economic survival.

Then leave lol, more housing for the rest of us :)

Leaving Canada to go where? Housing prices go up everywhere. If a country/city is doing well, the price of living grows. Only places where live costs nothing and you can get shot for 50 cents don't grow...

Spin a bottle. When it stops, hop into your car and drive 300km. You will find homes 50-80% cheaper. No need to leave Canada the 2nd largest country in the world.

@@mikhailgolichenko495”get shot for 50 cents” LMAOOO cant stop laughing at this comment omg

@@3rayallen A bit rude comment but hilarious nonetheless. 😄

Namely British Columbia and Ontario.

Same thing in Halifax, from what I hear.

Yep I was trying to get over there but couldn't afford had to go to a different part of AB

Considering houses in the sticks are 1m$, I don't understand wtf is going on.

This is why rental income from 1+ suites is essential

People are using the bank of mom and dad. Rich families help their children get rich, and others seems to fall behind.

Terrifying is more like it!

@@marc37921 why ? Explain

a civil war would halt the flow of immigrants immediately.. for what thats worth..

Just heard today on the Michael Campbell show since June 18 to Friday statscan announced that 251000 new immigrants have been added to or population. In 2 months. 1.5 million annual pace based on the latest numbers.

I agree with you. I would add two additional factors that add to the issue. One, record low interest rates leading to rampant speculation in the market and total lack of moral hazard and two, the stunning level of financial illiteracy among Canadians.

I find it funny that no one realizes that the gov is just trolling us and still getting support hahah. Of course they'll overrun supply. I would just tell people to plan to leave, almost anywhere in the world would be better. It didn't have to be this way at all...Also, record level of migration suppresses our wages as well.

Easy - I think housing will lose 95% of its value. Then you'll begin to find good values, bargains.

Would start with letting the market crash. We have enough investors in the market a crash will bring back affordability. Unfortunately the government keeps bailing out mortgage holders and the banks. Tighten lending on investors from the banks so developers need to sell more to the end user market. Local govs need to cut back on development charges so when prices fall developers can still make money. Reduce all forms of importing people in the country to a level where supply can catch up. Our population would decrease if we stopped all forms of importing people. Unfortunately the boomer gen will hold up the affordability of houses as they don’t downsize and basically need them to die out.

And still an open buffet for domestic and foreign "investors"...

And the population is increasing, thus higher demand.

Easy to answer: It's impossible (Unless WW3 happens).

Ya I sold 7 yrs ago in Whitby thinking how crazy could it get. Wow was I wrong. Never seen it getting this bad where u gotta make 150k to afford most places along the 401 n GTA

You couldnt not afford it. Most people cannot effort to buy a house as a single person or on a single income, even with a bit of above average income. 10 years ago around 2012 - 2013 was the last time homes were a bit affordable in the GTA hamilton area

My house is worth 1.8 million. I most definitely would not qualify if I was trying to get it today

Yep i dont even know how people qualify in GTA and VAN. I wish i held my house in durham longer shit went crazy @@richardramfire3971

he can do the math and figure that out himself! LOL

the guy is a rwit.

Think that bro hit up my fentanyl-crack pipe a bit too hard...

One of Justin's economic and housing advisors?

Because each immigrant buys a 1M house? You’re delusional. They live 10 per house with 4 names on the mortgage

​@@markb8360 They are either stuck renting forever, or they bring in a sizable downpayment (and credit score) or full payment before arrival. But in all cases, you entirely missed my original point... I didn't say anything about house prices, but since you brought it up: The more people brought in, the higher the demand, which pushes the house prices higher and higher. Soon it will be $2-3million for an average 1 bedroom apartment or $20,000 a month rented but there won't be any jobs left because those are all taken, flooded and valueless. (Except for maybe house builders and farmers). The inequality and unaffordability will skyrocket, and so will the price or scarcity of food. It will bring the middle class to their knees, which is exactly what the elites want. The hunger and desperation will make us agree to anything they wish to impose without resistance or a second thought. I know exactly what's-up. Trudeau cares more about Barbie or multiple private jet island vacations per year than he does Canadians, not even his wife likes him. (No idea why! sarcasm)

housing needs to drop 70%.. 10% is fuck all.. average home doubled in price like 4 times since i was a kid, im only 25..

Interesting!

Toronto prices are already rising.........

I will have whatever you're smoking !!

@@joeissac3934 He is accurate in his assessment. What makes you believe he is inaccurate?

I see the same thing happening.

YUP

They will kick out the Canadian that lived there for years and replace them with an immigrant.

You won't come back. You'll be so happy away from Canada.

My son works in construction, mostly residential and doesn't make enough as a carpenter to live on his own. They can't hire and I wonder why when the average is 25 an hour with no benefits

@@montrose699 sorry to hear. Hopefully your son’s income will grow as he progresses through his career in carpentry to a red seal. Maybe start his own business.

Well we all know that ain't going to happen now is it?

Justin Trudeau, has broken Canada!

Not yet, but soon enough

But this is a made-in-Canada problem.

If this is an issue why is the government imposing carbon taxes until 2030

@@dslboiz carbon tax does nothing in terms of actual emissions reductions and forces more offshore labour, further impacting employment as inflation increases and government spends more tax dollars they're collecting under the guise of social responsibility. Utter sham and form of corruption, just surprised more haven't fought against this, but maybe they don't see it.

Yeah. People are deemed “unable to afford a mortgage” while they pay even MORE for rent in most cases. It’s ridiculous.

Same and I travel thru burlington, mississauga, brampton, oakville and all I see is 1 mill++ for anything (Even online) half decent so I don't know where they got their 500k mark in Q1 on that chart lol unless they averaged it out against windsor.

same here

Depends where you are. BC and Ontario already were hit hard and immigration will put a floor in

@@stevegaspar5191 Im in QC, the median house went up since January 2023, it dropped like 5% last year, its almost back up to where it was. And what makes it look worse, is the houses that dropped last year were mostly the 1 million $ house in the city. Out in the region what hapenned is those 200k$ houses completly vanished, now it starts at 300+k It definitly kept going up in my region. I bought 1 last August, I was looking for 1 for my sister about 2 months ago, and they straight went up.

Interest rates will fall in 2024 and should peak around February 2024.

@@parkerbohnn What makes you think interest rates will fall in 2024? I am many reasons to believe interest rates will continue to rise due to the depreciation of the Canadian and US currencies and rising energy cost. On August 22-24, BRICS nations will likely to make announcement to the world on their new gold backed digital currency. This will send shockwave to FX and energy market.

In your dreams maybe.

@@YoBoyMarcus CPI went back up 3.3% in July just as I predicted CPI will tick back up due to crude oil price. Looks like my dreams in becoming reality. However, believe whatever you want to believe.

The yield curve is inverted in the US. That means a recession is coming, so it'll be pretty hard, if not impossible, to keep raising rates.

They are social media artists, they deserve to be rich because their content is healing the world

Apartments in Edmonton were selling for 30 to 40 thousand in 2021. None were leaseholds. Country Club Estate near the university and West Edmonton Mall was selling in the $65,000 range for a stacked 2 bedroom townhouse just under 1,000 square feet from around the end of last year to just recently. I owned 4 of the bottom 3 bedroom end units bought back in 1990 when they were the same price as today.

Stop crying and move to Alberta. Imagine no sales tax, no property purchase tax, low personal income tax, cheaper gasoline like 60 cents a litre cheaper than the lower mainland in BC as of today and even cheaper compared to Vancouver. We also found a family doctor with a couple of months of moving here. Sure there are some negatives but not nearly as many as the positives. That is why Alberta is seeing the highest population growth in its history right now.

Not for as long as the population keeps increasing and people still insist on living in the city.

I love it..go bankrupt people .serves u right greedy bastards I say

Are you my dad?

LOL

So when is the bank starting your power of sale?

When can I book a showing?

The graph is incorrect too. There is a 10 where there should be a 20.

everyone came to Canada to get residency .@@itsmealex588

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That does make a lot of sense, unlike us, you seem to have the Market figured out. Who is this consultant?

Alberta has no diversified economy. It's a frozen tundra where most work in the oil fields. BC, QC, Ontario are going green so no one wants that dirty oil. All of Canada's higher paying professional jobs are located in Ontario, Quebec and lower mainland BC.

I just moved here a year ago. It is the total opposite of what you inaccurately spew in your derogatory statements. You have been drinking Trudeau's kool-aid for to long. It cause sbrain damage because of what he puts in it. He ppppeeeessss in it.

Do you know what else is green? Snut. I warned you about Justin's kool-aid.

@@joeissac3934 That's because they're too busy importing it from Saudi Arabia.

why stay there ?

It’s not worth listening to these jokers of economists. Especially these claiming 20% falls. If he said 5-6% would have believed. 30% of Canadians only have mortgages and how many of those have fixed rates

Exactly 100% agree. They keep calling a crash like chicken little but housing is the one thing that never expires, goes bad or is consumed in any manner. And yet its a necessity for everyone that is in constantly limited supply. Its the one thing guaranteed to go up as we ' import' more people into this country than we have houses for.

@@brightlight3520 before anyone defaults on mortgage, will first pile up credit card and line of credit debt to try to cover mortgage payments. And after they pile up on those they can declare personal bankruptcy which allows them still to keep their home. They buy time till rates are normalized.

@@Mehmed317Canadians don’t have fixed rates - they have to renew their mortgages every 5 years. 30 years fixed is American thing

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Evelyn C. Sanders

Last year nov 1st it got cold and snowy. Until then very nice and then boom

It doesn't matter if he's bringing in a M every year, it won't matter if he brings in a B every year. The immigrants coming in can't afford the prices. So really the demand isnt actually going up, because there aren't enough viable buyers. Next couple years Canada housing will collapse as interest rates go higher and people start renewing mortgages. The Ponzi scheme has run it's course 😂

Where did you pull that 1M per year from?

@@rok1475 StatsCan. 500k permanent residents, the rest are temp workers and students. They all need a roof over their heads.

Oh and forgot asylum seekers too.

​@@rok1475main stream media quoted 10 million over 10 years. Do the math