Real estate agent Chris Bibby breaks down the roller coaster real estate market amid COVID-19.
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Looks like bussiness as usual. Houses sell if you got the $$$ it yours.
Keep drinking the kool aid folks.
All going down sooner or later. The house of cards won’t stay that long
Yes! Their evil plan will FAIL and is failing now!!!
Property taxes must go up if it’s going to crash. Rent a room for 2000
Property taxes must go up if it’s going to crash. Rent a room for 2000
Sadly, for the sake of my kids who will some day want to buy a house, the housing market isn’t going to crash the way some pray for. There are blips when the real estate goes down but inevitably, they aren’t making more land. In the long run, real estate is only going up. Except in the cases of condo’s. They don’t actually have any real land.
sold out moven out of canada
Cannon Hinnant say his name
Are you seriously going to listen to a used car sales person, AKA real estate agent. The agents are the evil for our home affordability, for home ownership for Families to raise their children in a community where we all can develop unity of prosperity and security , not for profit flippers. The so called expert is not going to give negative reality, because it’s his livelihood, another dime a dozen.
Thomas lol… still makes no sense. Want what you want, buy what you can afford.
@Bryan Coombes No frustration here , just criminal, when agents can collaborate to negotiate the price and cause a bidding war and introduce the oversea investors from such places like China, Dubai, and Hong Kong with the touch of a key, well lets just say goodbye to the Canadian proper.
@D C I have worked through three recession, back in 1980 when interest rates where 20% and the 80’s when real estate speculation was ramped , flipping homes up to three a day, well they all lost in the end, the Government put a stop to that and so did the interest rate, prices dropped 50 to 60% and then the 90’s dead economy for 10 years plus years. Oh and I bought my first home in 89 and at an interest rate of 11.5% and i was still able to purchase the poor investors home in a power of sale and during all with very little economic activity yet it was all affordable across the board, here is the issue.
Real estate agents just annoy me.Dropping 10,000 to agent selling only means 100.00 commission they become condescending whiners with no time to work for you
@Bryan Coombes yeah, if anything the RE agent cares the least about the price, any reasonable agent would want to sell a house for a little less rather than sit on an overvalued property for 6 months, half the comments are full of brain dead renters who know NOTHING about the industry
So what did I learn from this… Absolutely nothing just speculation which will undoubtedly affect the market.
Condo living is real not for me, now they’re even smaller every years and more expensive just crap.
I feel for u! I am from Costa Rica and we would never accept this type of housing and make it part of our culture. I guess here house Builders are copying China homes. It is clear that condos are not suitable. For example look at the pandemic every one was going crazy in a tiny home.
@Alex Dicintio need help? Im looking for a job.
@Alex Dicintio What’s the name of your business? I’d like to keep it for future reference. Thank you
They are selling 400sqft condos for $600,000 in Oakville,ON what a joke!
Living in tight quarters so close to others is no longer appealing.
@Alex Dicintio lol what a professional response. If its not waterfront, which i doubt it is based on your response, 600k in a place that shuts down for 9 months out of the year isnt worth it.
The Magical Question is WHO is buying these homes, and i would like to know what CEO job they have? Jail is cheaper. I know of individuals carrying 600 to 800 thousand dollars of mortgage, house poor, suicide in the making.
@Thomas my sis just bought a house in montreal with her husband.. they dont have much income.. only costed them 400k though.. for a nice place too..
Andrew Dsouza sad and that’s cheap
Those new condo’s in Toronto are put up in record time and are garbage. Windows falling out of them… Expect those maintenance fees to climb in a hurry. No thanks.
@Alex Dicintio lol
The Canadian Dream, living in a cement box while paying ever increasing strata fees.
The condo fees are the real obstacle for me to get over. There’s not real controls. The first few years the fees are affordable because I’ve yet to see a board put things like a new roof or renovations that will inevitably be necessary in 20 years. As a home owner, I know this is coming and it’s in my budget and I save up for this stuff. Builders and condo boards just aren’t proactive enough. So when it comes time to sell a condo, the fees will have incrementally have increased to a lot more than what you paid when you bought it. This depreciates the value of the condo. When there is something protecting condo owners, I wouldn’t actually leaving my house to live in a condo. I hate gardening. I hate shoveling snow. I hate maintaining a house. But there just aren’t enough protections as a condo owner. I protect my investments.
Asking a real estate agent about the housing market is like asking a drug dealer about the potency and purity of the drugs they sell. Pretty stupid, yet they still do it.
Johnny Unitus They should be asking the Appraisers! They never lie or they lose their license.
Johnny Unitus ditto. This guy has no numbers, no data whatsoever. And basically just throwing a bunch of anecdotes we already knew. Garbage interview.
@thereyanigoes They would be better off asking the banks about new mortgage and the economic forecast of new mortgages. How many are refinancing. How many with a mortgage are claiming bankruptcy. Ask insurance companies on new claims for new housing insurance coverage. Let be honest do. The housing pricing is a inflated bubble pushed by a large part by international money laundering. Foreign nationals using money from who knows what, buys property sit on it then sell it. Locking it in a more legitimate banking system which cannot be claimed by their home country through a political grab (China, Russia, etc.). It’s safer to buy property for many foreign nationals than to leave it in their local banks. Look at Vancouver with all the empty purchase properties.
LoL this comment is pure gold ☺️
I am a resident of Dubai and seeing the current housing market in toronto, which shows samilar traits we had in dubai in the past, There will be a straigth fall once there is much of supply and the investors pull their money off from property. We have much more inventory at hand and less buyers. Lets hope for the best.
Does it even matter what happens to the housing market? Real estate has to be okay because it is the largest contributor to GDP , contributing ~15%. Who needs productivity when you have a ponzi-real estate scheme?
Don’t get stuck in a condo or apartment when the city starts to collapse !
As a broker, I always tell my clients “if you can, stay away from condos …period”
Com’n don’t ask a Realtor about real estate market. They will never say that the market is bad.
Most realtors failed their exams but were quota hired..
@Kenn Smith kinda sounds like public sector workers, they couldn’t hack it in the dog eat dog private sector so they get on the taxpayers’ dole
@Kenn Smith hahaha, im just assuming youre joking because theres no way someone can be that stupid
@Justin you must get slapped around a lot…hahaha…
garbage journalism, basically an interview with 1 insider. Waste of air time.
Affordable housing doesn’t exist in Canada. There is no housing bubble. China and wealthy are buying up the housing and sitting on them for rent or profits not to live in.
True, since 2012 – 275 BILLION DOLLARS was money laundered into Canada’s real estate market and even possibly more. Confirmed by our news agency.
Everything is over priced in GTA no thanks.
trust me I’m a realtor. this is a great time to buy. pent up demand, economy in the toilet
Foreigners and drug lords are buying these houses.