Canada Real Estate Crash – Losing $100k First Time Home Buyer

Canada Real Estate Crash - Losing $100k First Time Home Buyer
Buying Real Estate



The Canadian Housing Market Crash Is Happening & This First Time Home Buyer Just Got Screwed On A 1 Million Dollar Property Losing 100k . Canadian Real Estate Crash These Are The Stories Leading To Lawsuits You Need To Hear! https://trreb.ca/index.php/market-news/market-stats

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38 Comments

  1. Attention !!! Do Not buy a house now, wait 6-12 months, price will go back to december 2019 at least with high interest rates, inflation. Decrease expected 35%. be patient friends and do not be fooled by stupid realtors. some think maybe prices will go back to 5-10 yeasr correction, but 35 % is the minomum. Do not listen to greddy liars realtors, they just want to make their dirty commission.

  2. You're an idiot if you think inflation is going to cool off. Do you realize how much bond paper is out in the market? Do you realize the amount of M2 money supply out in the market Canada has. It's over 5X the amount of 2020 at 500 BILLION! You're gonna have to do MULTIPLE 100BPS to make a dent in that. Do you have any idea the liquidity crisis that's happening worldwide?

    Global Indexes are down 15-20%. Liquidity is getting pulled faster then you can think. Anyone who considers buying until a MASSIVE Correction deserves to be taken. You've all been warned. You think the rental market is going to survive? LMAO that's going to dry up fast. It's simple economics and you guys are absolutely clueless. Banks make money with loans. Their money maker is mortgages. The amount of paper they're gonna pump out in the market is going to make Evergrande in China look like a joke. The banks just had their legs chopped and now you're going to see how overleveraged they really are.

    Those that know, grab your popcorn.

  3. Loss potential is virtually unlimited. She can lose the down payment and get sued for a plethora of damages .

    For example, if the seller needed the funds to buy a home and their is, in fact, a long chain of transactions that are disrupted, she can get sued by all parties adversely affected.

    If the seller is unable to sell and has to obtain funds at a higher interst rate, having to shop the market all over again and secure a new mortgage, that is another potential cause of action.

    The deposit is just the tip of the iceberg…

  4. The big correction has yet to come. Another 100bps rate increase coming in September. Be patient , wait for the bottom , stay liquid. All purchases made during COVID are now underwater. The folks that stretched affordability will not be able to make payments.

  5. Had a real estate agent a few months ago pushing hard to get into the housing market. He scoffed at me when I explained why I saw interest rates going much higher and that housing would likely drop. Long story short, I fired him. If your agent only tells you prices will only go up, regardless of macroeconomic situation, let them go! That is a dishonest or worse clueless sales person. I’m now seeing alerts of $20k-$100k prices drops in home prices. Stick to your guns!

  6. I get it but on one hand the past few years you buy a home and by the time you take possession you have an extra 100k in your pocket. I don’t think anyone gave that 100k back to the seller so it goes both ways. It was more like too bad so sad. So now we’re complaining?

    I wouldn’t blame the government for this mess. Covid was a once a lifetime event that crippled the economy. There is a large portion that also sat on the sidelines watching people get greedy with property and as you said bit off more than they could chew hoping they could ride the wave. A large portion of the blame is on the buyers and sellers here.

  7. Her first house was over a million dollars? She lost 100k. Where did she get a 900k mortgage?
    People, wake up – housing is grossly over priced. It has to come down dramatically or Canada cannot sustain a middle class.

  8. Look folks. It was a bubble and you were told such. Yet you lined up like cattle to buy a POS property for 5 -10 times what it was worth. What were you thinking? If you haven't bought – STOP!!!!! The Bubble of Everything is over. Bitcoin down 70%, Stocks down 20-40% or more, Inflation raging at 9%+.
    It's simple – As a real estate investor of over 40 years I have been through crashes. They are usually very ugly. People get wiped out and go bankrupt. Why? becuase in Canada you can't walk away from your house! You go bankrupt.
    It takes 2-3 years for a bubble of this size to collapse. First are the over-leveraged. Then Commercial goes bust, then house prices collapse and people are underwater, then the courts liquidate through Power of Sale. It takes time for this to complete. If you wait, you will be rewarded, I know its hard to rent but properties are dropping in value $10,000 a week. Think about it. In 3 years you buy at crazy cheap prices. Look to the USA in 2007-2009. Properties went from 300K to 20K in Florida and elsewhere. I bought 6 townhouses in Florida in 2010 for 14K each!!! Be Patient.

  9. Great video. you've remind me of what someone once said❤The richest people in the world build networks; everyone else is trained to look for work.” “There is a difference between being poor and being broke. I once attended similar and ever since then i been waxing strong financially, and i most tell you the truth…👍

  10. First time homebuyer are going to get hurt, anyone who bought in the past 4 or 5 years are done for! Get out of the deal now walk away from the deposit and you will come out ahead, your parent which likely gave you the money will be the losers in the end, good old bank of Mom and Dad! Peak inflation yea right, I hope you all have bullion and commodities in your portfolio to hedge yourselves and the saddest thing is that this whole set up was intentional, check out history when this was done in the past.. Check out Nicholas Biddle and get back to me!

  11. A simple cash analysis comparing borrowing at 6% vs 2% would force a 17% drop just to equalize the net cash over a 5 year term. This does not factor in the impact of slower demand and increased supply nor inflation impacts. Conclusion? Some market that were overheated could fall back 40%. When the renewals start and the over leveraged start to dispose of assets this will add fuel. Builders will not break ground if new home prices fall too far and there will be downstream economic impacts on employment in the sector including realtors and mortgage brokers. If you bought before 2020 you should be safe until refinancing but if you took too much equity out on the value increase to buy that rental(s) or cottage well hold on tight. I feel bad for anyone who is under a new home contract with a late delivery who has not sold and has no locked in financing. People will be walking away.

  12. Dude WAKE UP THIS IS NOT GOING TO GET BETTER IT WILL GET WORSE!!!!! GOOD LUCK TO SUCKERS WHO LIVE ABOVE THEIR MEANS AND BORROW MONEY. SAVE AND BUY CASH MOVE AWAY AND BUY A REASONABLE HOME

  13. We are supposed to feel sorry for this lady. Would anyone care if she made 100k off this deal. Buying a 1 million dollar house in this market is gambling. Everyone knows the risk. No one complains when they make a 100k and thats kills affordability.

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  15. Well I guess I should have cried like a baby when my car loan interest rate was 7% then 3 months later the bank was offering car loans for 5.5%. I guess back in the late 70's and early 80's when people were losing their homes because the interest rate went up to almost 20% refinancing and were dropping off the keys to their houses in the middle of the night in the banks drop boxes. No we went to were the jobs were after walked away from our homes we didn't cry like a bunch of babies. Anyone with at least 2 brain cells knew that the housing market over the last 2 years was not realistic and were rolling the dice, some people got out while the getting was good and some people got burned. Nobody forced anyone hand to sign on the dotted line it sucks but that's a life lesson. People though real estate would only go up and got greedy, who buys real estate when it goes up 40% in 2 years with mortgage rates have no where to go but up?

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