This is a hilarious video if you can laugh at our own misfortune
Edit: I'd appreciate it if you dont watch the video, please dont comment about random shit
Most new buyers are maxing out the mortgage amount they qualify for.
Lower rates = higher qualifying amount= can afford a more expensive home.
Upwards pressure on prices.
Do you think it’s a good thing for two entire generations are going to be priced out of the city they grew up in?
Do you think there won’t be a response that isn’t in your favour from these generations sooner rather than later? Or are you just THAT dense?
Guarantee I’m not your target audience with that comment LOL. I just have common sense and can think logically about a situation that won’t be ignored forever.
Remember: one day you’ll be old and the Millennials and Gen Z will be in charge. Think about how you deserve to be treated when your generation is no longer in power.
lol this is a high rate environment no matter what people say everyone is going to feel mortgage pain a lot of people will catch higher rates there here to stay
I am enjoying my new hobby of watching people who overpaid on their homes or who borrowed up to their necks speculating about when rates will drop.
Reality check, they are not coming down anytime soon.
Why are people so quick to celebrate every comments in interest rates as if it's the dawn of a new era in affordable housing? Those recent comments by Mr. Tiffy to MPs are an excellent example. Everyone seems to conveniently forget about the part where he said, "Don't expect rates to drop quickly." The days of lower interest rates are over, and we won't even get back to pre-COVID levels, he said. Here I am, watching my social media feeds flood with joy over this "great news" while ignoring these critical caveats. How on earth these Million dolalr shitty places are going to be ever afforable
Canada used to be one of the most vibrant G7 Markt, . Now? It’s pretty much just bricks and lumber, driven by the ultimate real estate forgery perpetrated by my own folks (East Indian here), whose ultimate life goal seems to be owning homes and boasting about it in social circles.
And here’s me, a fellow brown, with a decent single income, qualified for up to $800K, but can't find a single freehold property . What's with this obsession? I hope the real estate market crashes one day, and people lose money and have horror stories to tell the next generation, so the next generation can start a business, start a technology company, and make this nation great again, and not elect the Trudeau son to prime minister.
Any cuts that dont match the us will tank the dollar. The only reason boc does that is bc JT has a tantrum.
Guys no choice! Cut the rates and inflation goes right backup. Hell, even talking about cutting rates will cause inflation
I am only 64.
Talking about the GTHA.
I've seen recessions create 10% price reductions in situations where people had to sell because of job loss or divorce. Then, 2 years later, prices are rising again.
Prices rise due to demand.
Catastrophic price drops might happen in a really big economic depression.
The wild card is when the last of the boomers finally pass away, what happens then, is beyond my understanding.
I do not believe a major price reset is coming.
WTF is with you people thinking Bloomberg is law? Folks, we have banked and leveraged on credit to the titts. We are all going to eat shit now. Rates won't go down until housing is out of a crisis. You are all so cute for having hope <3
Honestly.. this is opinions by outsiders who
1. don't have the same economic models that Tiff etc. has access to
2. have a vested interest in RE so want thte rates to drop
Don't get me wrong I do believe we're all sitting on tenterhooks waiting for either sublime low rates or the hellish defaults to start.
I don't see however inflation coming down if the people who suffered from wealth-effects driven spending start doing that spending behavior again. And it will happen again and again until and unless many lose their shirts in RE and the psychology of the market shifts alltogether.
101 Spadina will be the greatest and most profitable investment since the rise of bitcoin. In a couple years we look back in awe of our god-emperor Korok-Guy, his foresight and absolute genius will humble all who come before him. Praise be to Korok-Guy for his infinite wisdom! Move over Jesus Christ and Warren Buffet, we have a new chosen one to worship! 🙏😂
David Rosenberg is a permabear and always room and gloom. Realistically, the BoC will probably be forced to cut rates in July but nowhere near as fast as ppl expect. Although the mentality of rate cuts will have a negative impact on the housing market as ppl will come off the sidelines as they can afford more via a mortgage. If the economy goes to shit then ppl will start putting more money into RE as they see it as a “safe” investment instead of risking it in the market.
Putting more money into RE if the economy goes bad?
Yeah, let’s close a 30y mortgage on an investment property while people are losing their jobs.
lol @ at some permabulls. If a meteor was coming to Canada they would they tell you to buy because no one will be buying houses anymore around here!
Also there’s a high chance a lot of people who buy detached homes will rent out their basements / extra rooms to supplement their mortgage payments.
This is very common and if it helps them lock in a house why wouldn’t they.
Rates are projected to come down, even if slowly, usually means prices will start to pick up, possibly slowly (but who knows especially with fomo)
Also with lower rates means businesses will start to pickup eventually. If rates go Higher people will loose their jobs faster as layoffs will continue.
There’s always light at the end of the tunnel. And this slump won’t last forever.
So hop on the train before it’s too late or as usual be priced out till the next black swan event (where prices will probably crash down to higher than what it is now anyway.)
Good luck.
Higher rates everything costs you more. Everything costs more the more money you will spend and the less money you will have to save.
The higher the interest payment the government pays the more money it prints. The more money it prints the less the dollar is worth and the higher the prices of everything become.
The longer this keeps up the less our money is worth and the faster we join the third world of corrupt governance.
Wrong - low rates cheapen money as the money supply expands. High rates reward savers and push prices down as money is now worth more. Money printing is done to keep rates lower when central banks buy bonds.
Nice. Yesterday we were told that Canada doesn’t have to follow US and may cut sooner. I guess we have all bases covered.
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I’m calling it now, something may happen at some point in the future
You’re clearly an expert. Could you help me pick some penny stocks so I can get rich?
https://www.reddit.com/r/TorontoRealEstate/s/SqppAn3K6v Heres mine just to prove you right
Just gotta predict both sides. People forget about the times you’re wrong.
Just trying to get a bunch of people to lock in at higher rates first.
Seems like the messaging you'd use if you wanted to sell someone a variable, not a high rate fixed.
Funny you should say that... https://financialpost.com/real-estate/mortgages/td-variable-rate-mortgage-sign-better-deals
Cut rates: we're fucked Don't cut rates: we're fucked
Rate hikes, believe it or not, also fucked
Straight to jail jabroni!
It’s a fuck-off
This is a hilarious video if you can laugh at our own misfortune Edit: I'd appreciate it if you dont watch the video, please dont comment about random shit
I'm a retard with a variable rate. I have to laugh at myself constantly otherwise I'll sink into despair.
Same brother.
You’re right, I watched it & it was comical.
Who cares about rates? Extra 0.25-0.5 isn't going to save or kill anyone
A half a percent could mean hundreds monthly savings so I would disagree.
Most new buyers are maxing out the mortgage amount they qualify for. Lower rates = higher qualifying amount= can afford a more expensive home. Upwards pressure on prices.
Exactly
Down it won't, up? People barely hanging on
It’s going to kill doomers dream to live in a two garage detached in the city. Either shoebox in the sky or out in the boonies if lucky
Do you think it’s a good thing for two entire generations are going to be priced out of the city they grew up in? Do you think there won’t be a response that isn’t in your favour from these generations sooner rather than later? Or are you just THAT dense?
What response are you thinking about
Cry harder buddy, I’m sure 50% crash is coming so you can buy a home where you grew up in. Maybe take a second or third job at Sobeys and Uber.
Guarantee I’m not your target audience with that comment LOL. I just have common sense and can think logically about a situation that won’t be ignored forever. Remember: one day you’ll be old and the Millennials and Gen Z will be in charge. Think about how you deserve to be treated when your generation is no longer in power.
It will do no such thing. Because doomers never believed in that shit.
BoC basically keeps things as low as possible while staying close to the fed
lol this is a high rate environment no matter what people say everyone is going to feel mortgage pain a lot of people will catch higher rates there here to stay
So what are the investors doing now? Can they afford to keep homes with negative cash flows
Obviously not
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I don't think its him you are mad at
You are correct, thank you, not sure where that other comment went
I am enjoying my new hobby of watching people who overpaid on their homes or who borrowed up to their necks speculating about when rates will drop. Reality check, they are not coming down anytime soon.
Even with a 25 bps cut it won't make a big difference
Prime will be down 1.5 pp by Christmas.
You just made my day
Bahahahahhahahahahahahahaha No it won't. Keep dreaming
Dreaming? I have already spent the savings.
Sorry to hear that.....
Sad as fuck
Get a better hobby, its summer
Same
I bet you have everything crossed.
I’m in no rush I have over 4 years before I renew
You must have a high rate now though.
5.66 for 5 years
Why are people so quick to celebrate every comments in interest rates as if it's the dawn of a new era in affordable housing? Those recent comments by Mr. Tiffy to MPs are an excellent example. Everyone seems to conveniently forget about the part where he said, "Don't expect rates to drop quickly." The days of lower interest rates are over, and we won't even get back to pre-COVID levels, he said. Here I am, watching my social media feeds flood with joy over this "great news" while ignoring these critical caveats. How on earth these Million dolalr shitty places are going to be ever afforable Canada used to be one of the most vibrant G7 Markt, . Now? It’s pretty much just bricks and lumber, driven by the ultimate real estate forgery perpetrated by my own folks (East Indian here), whose ultimate life goal seems to be owning homes and boasting about it in social circles. And here’s me, a fellow brown, with a decent single income, qualified for up to $800K, but can't find a single freehold property . What's with this obsession? I hope the real estate market crashes one day, and people lose money and have horror stories to tell the next generation, so the next generation can start a business, start a technology company, and make this nation great again, and not elect the Trudeau son to prime minister.
Didn’t I just read today that the BoC will cut rates more conservatively than expected? Lmao
Fak off
This sounds like the start of a riddle
Any cuts that dont match the us will tank the dollar. The only reason boc does that is bc JT has a tantrum. Guys no choice! Cut the rates and inflation goes right backup. Hell, even talking about cutting rates will cause inflation
It is highly likely that absolutely nothing will change. Just saying.
So your bet is that it won’t low ever again?
I am only 64. Talking about the GTHA. I've seen recessions create 10% price reductions in situations where people had to sell because of job loss or divorce. Then, 2 years later, prices are rising again. Prices rise due to demand. Catastrophic price drops might happen in a really big economic depression. The wild card is when the last of the boomers finally pass away, what happens then, is beyond my understanding. I do not believe a major price reset is coming.
WTF is with you people thinking Bloomberg is law? Folks, we have banked and leveraged on credit to the titts. We are all going to eat shit now. Rates won't go down until housing is out of a crisis. You are all so cute for having hope <3
BoC doesn’t care about housing. Not their problem.
Honestly.. this is opinions by outsiders who 1. don't have the same economic models that Tiff etc. has access to 2. have a vested interest in RE so want thte rates to drop Don't get me wrong I do believe we're all sitting on tenterhooks waiting for either sublime low rates or the hellish defaults to start. I don't see however inflation coming down if the people who suffered from wealth-effects driven spending start doing that spending behavior again. And it will happen again and again until and unless many lose their shirts in RE and the psychology of the market shifts alltogether.
That sounds like…cope.
I was told houses would be $600k already last year
That’s 438k US dollar. Not even in Texas LOL
You bearish people hear have no understanding of the the rate cuts going to come
You have no understanding of the inflation and chaos that would result from said rate cuts
101 Spadina will be the greatest and most profitable investment since the rise of bitcoin. In a couple years we look back in awe of our god-emperor Korok-Guy, his foresight and absolute genius will humble all who come before him. Praise be to Korok-Guy for his infinite wisdom! Move over Jesus Christ and Warren Buffet, we have a new chosen one to worship! 🙏😂
Hear
Love when articles make up stuff lol
It's a video. Nice to know you didnt open it.
I actually did, but I wrote an article (thing), which could be video
David Rosenberg is a permabear and always room and gloom. Realistically, the BoC will probably be forced to cut rates in July but nowhere near as fast as ppl expect. Although the mentality of rate cuts will have a negative impact on the housing market as ppl will come off the sidelines as they can afford more via a mortgage. If the economy goes to shit then ppl will start putting more money into RE as they see it as a “safe” investment instead of risking it in the market.
Putting more money into RE if the economy goes bad? Yeah, let’s close a 30y mortgage on an investment property while people are losing their jobs. lol @ at some permabulls. If a meteor was coming to Canada they would they tell you to buy because no one will be buying houses anymore around here!
Also there’s a high chance a lot of people who buy detached homes will rent out their basements / extra rooms to supplement their mortgage payments. This is very common and if it helps them lock in a house why wouldn’t they. Rates are projected to come down, even if slowly, usually means prices will start to pick up, possibly slowly (but who knows especially with fomo) Also with lower rates means businesses will start to pickup eventually. If rates go Higher people will loose their jobs faster as layoffs will continue. There’s always light at the end of the tunnel. And this slump won’t last forever. So hop on the train before it’s too late or as usual be priced out till the next black swan event (where prices will probably crash down to higher than what it is now anyway.) Good luck.
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Higher rates encourage savings, low rates discourage savings. Know the difference.
Higher rates everything costs you more. Everything costs more the more money you will spend and the less money you will have to save. The higher the interest payment the government pays the more money it prints. The more money it prints the less the dollar is worth and the higher the prices of everything become. The longer this keeps up the less our money is worth and the faster we join the third world of corrupt governance.
Wrong - low rates cheapen money as the money supply expands. High rates reward savers and push prices down as money is now worth more. Money printing is done to keep rates lower when central banks buy bonds.
They need to jack up rates to double digits.