Selling Today Is A Big Challenge (Peel Region Real Estate Market Update) 

400k, 300 square feet 2bdr, no closets. Of course, you can't live in this. But, you can rent it to someone desperate, which plenty are. Not anymore apparently. I've been calling this insanity since the 90's. Now a bunch of people will be losing their investments and I say again, sorry, not sorry.

Exactly. Shouldn't even be a stat.

Yep

At least 😂😂😂

@@user-mu1in6el5p it’s coming!!!! Usually if someone get 400k appreciation to housing eventually will go down!!! Actually who is buying, the people who works. If the salaries not up nor the business doing good!!! Plus the banks refuse lending us money above certain amount (stress test) then no way we could buy or homes to be sold , ( I am considered one of the highest paid job) no debt yet the amount I could borrow barely 500k while 2years back I could get 1million !!!!! The rates will not go back down significantly at anytime soon

That’s true

I guess you can look at things from that angle. In my opinion, an "investor" who can't take a loss, doesn't fall under the category Investor. So, what are we going to do now? Let it all live out the cycle as it should? OR we all pay for the stupidity and the greed of the "investors", on the account of everyone else, just to bail THEM out, and let THEM keep artificially gouging everyone else, under the threat that any other approach would sink the economy? You know what: let it all crash and burn, like in a war. At least that way it will be much quicker, and things will recoil back again as they should. Oh, one more thing. I do own a home. To LIVE IN. You know, a classic mindset. So far no one has managed to lure me into this kind of land lordship "investment", since I know a thing or two about the devastating potential of an enormous personal debt one basically cannot service unless stars are perfectly aligned all the time.

Great, in thar case, she bought for 2k decades ago and is now sitting on a 2 million dollar asset..... sell and get the ^!%@. Try condo living. Am I supposed to feel bad from the silent generation widow who made millions just sitting on this property?

My point Steve has nothing to do with commission.

Im sitting on 9 .7 million on cash and all taxes are paid and Im watching this channel and i think the market has another 20 percent to correct and then stay flat for the rest of the decade and i also think the SP 500 will correct 20 percent as well which will put a further damper on the real estate market. I have real money and ive watched this movie before it will end the same way it always does but my fear is this time it could be worse because its been 25 years since we had a real correction in canada.

How much money do you owe?

I dont owe a penny and i own my house clear and free paid 1.3 cash for it in 06 and current market value is 3.5 im going to list it for sale next week and i will take 3 for it lock that 3 into treasuries at 5.25 and rent for 12k a month a nicer house in Oakville rather then watch my house fall from 3.5 to 2.5

@@HardKnocks-pi7pc haha ya thats why your watching condo crash RU-vid videos for sure

My kid watches these videos and he got me into it as he has been trying his luck as a real estate investor and you get a true feel for the distress in society instead of main stream media. I own zero condos and im all for a crash in real estate as i believe its over valued as much as 40 percent. My home should be worth about 2.2 or 2.3 not 3.5 . I paid 1.3 for a 5000sq foot MPAC home in 06 and at 3 percent appreciation on average compounded over 18 years it should be worth 2.2 to 2.3 and i never expected it would be worth more i assumed it would double over 25 years and i believe thats still going to end up being the case. These cheap interest rates of tha last 15 years have distorted everything . My kid is going to have to take it on the chin and it serves him right i told him to educate himself and read up on history instead he leveraged himself and played big shot real estate investor now he has to pay the piper. I will not help him or bail him out. I gave him a head start in life i purchased his house for him cash in 2014 for 700k in Burlington and currently worth about 1,400,000 he has purchshased a town home in 2018 and 2 condos that completed in 2020 and was sitting on about 2.5 total equity and he decided to borrow against it and buy 5 more precons that are just coming to completion and is in the middle of building his so called dream home. He is now up against it and after the head start it life i gave him he deserves too feel the pain for his greed and stupidity