The lack of supply narrative seems to be falling apart now that the higher interest rates are destroying the demand and inflating the carrying costs of the investors and flippers. More will come as they’re chewing through their capital due to the increased interest rates. Seeing the same types of listings in the Ottawa area.
I think it’s everywhere. And the flippers. Every dollar made is taxed. So that would push people out right there. Also I’m seeing a lot of landlords selling and getting out of the rental business. Due to LTB issues. To much risk for people.
Good research, like the narrowing down of the vacant homes on the market and what is happening. This is a great time to get into the market if you have been sitting on the side lines. If we have a decrease on mortgages the market will pick up.
Thanks. Once rates come down we know what’s going to happen. I was watching on RU-vid a this morning. CMHC channel, and they were saying 220,000 home starts this year in Canada. By year 2030 they need over 3 million homes. So they are right in saying. We are in a housing crisis. But it doesn’t feel like one at the moment.
No, wait a little longer, the big drop in prices will hit soon, too many renters have left the market and those owners can't go on for long with no income
north of miami beach, many of the older hotel/motels on the sea side of A1A were torn down for new construction luxury high rise condos. On the bay side were older condos. I was last there in 2016. Driving at night, the bayside condo's mostly had lights on. On the seaside, most lights were off. very few had lights on.
@@propertytwins investors, foreign buyers, little intent to occupy more than sporadically, possibly bugout pad in case things go south in their country, the usual
I have to wonder if we would have enough supply if investors were not hoarding homes? Perhaps it's not a supply issue in the sense we don't have enough. More like some people are hoarding.
Rents and Prices are too high in Canada. A big issue for Barrie is the cost and the distance to say Toronto or even Pearson and the 400 can be scary in winter. Landlords are getting out because the LTB does nothing to protect the owner and lets the renter away with anything.
Real estate market is very corrupt and needs to change. The commission fee changes imposed in the US are coming to Canada and it could not happen soon enough.
@@propertytwins not sure about that espicially with federal spending and the higher than expected growth of the Americans. There is no evidence of cutting until inflation is actually tamed lol market wants it real bad tho
@@propertytwins The is not a shortage of homes to buy, it is an affordability issue, driven buy speculators, until the government cracks down, same cycle will continue, until Canada stop treating homes as a commodity to make money, this won't change, although we will continue to have boom and bust cycles, Canada has a bad econmomy because we try to creat an industry based on real estate profits, US is opposite
I just checked and here in Alberta, the numbers are similar. 40% of condo's and 20% of the detached homes for sale are vacant. Many of the houses are new builds owned by the builder, however the condo's are almost all owned by individuals.
Most houses today aren't in the affordability range of the median income American worker - which can only afford a home that costs $200K or less, unless they are in a 2+ income household combining multiple median incomes. The median priced house today is over $400K. Do the math.
Well I did a video a few weeks back. And I counted the ones that were vacant. And I was surprised by the number. I think people are just sitting on them. To risky to put a tenant in
@@richardrogers7479 Richard I was talking with a friend the other day. He is a real estate agent in the city. He has a client that bought investment properties back 20 years ago. And never ever rented them out. Did not want the head ache. He recently sold one for 1.7 million and paid 400 k for it.
