Financial expert Simeon Papailias discusses what anyone thinking about buying a home needs to know about the latest rate hikes.
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I think for many Canadians an additional $3,500 a year plus rising costs all around then is fairly devastating.
I think the government should completely close the market for anyone who doesn’t reside permanently in Canada. Students and TFW a should be excluded from buying, and non-resident Canadians must declare enough taxable income here in Canada to prove income would back the purchase price, not like declaring income poverty while living in a 2.5m house and mom drives around in a 150k car and sunny boy takes the super car to Uni ….
nahh thinking about moving out of this poor country
Houses are a dead investment
FROM 7.7% INFLATION Rate +1% increased 8.7% meaning Your $100 loses $8.7 or now $91.3 actual value..is the Prices going up or the Dollar Going Down?
Don't do it. If you can sell & get the heck out of Canada do it.
40 billion to the indians, thats some spending power right there never talked about. So many exceptions these Liberals seems to take with their budgeting.
The Bank said they will continue through 2024. The Bank also said that real estate prices will fall into 2023.
He was great!
The housing market appears to be operating without brakes as home prices continue to climb–the national median listing price saw another double-digit increase in April, climbing to $341,600. in Even with April’s 19.1% jump from a year ago mortgage rates continue to tick up, and buyers are not backing down.
Another Canadian real estate expert from where ever the fuch he is from…
Don't buy real estate in Canada.
"Heres what you need to know…" dont buy property in Toronto or Vancouver lol prices are decent everywhere else
Average mortgage 400000$..This must be in LaLa Land
Never ask a real estate crook for their opinion on the real estate market 😅
you will own nothing and will be happy
I recently came to Canada on a two year work permit and I am beginning to regret my decision coming here.
Great advice.
High interest rates = One mans loss and another mans opportunity.
this was the WORST ADVICE EVER… this guy is not an expert .. he is a clown… most canadians have a mortage of well over $600,000-$8000,000 bud
WORST ADVICE EVER
Great video< and some nice tips! This is a scary time for new investors but the best thing you can do is not to make decisions based on emotions. This could actually be a good time to buy more of your high conviction stocks or crypto on a discount. Wealth is created during bear markets, not bull markets. If your portfolio is really effecting your mental health then delete the app and go for a walk. Let the market do its thing and have a long time horizon. I buy and just trade long term more than ever, I have made over 8` btc from day trading withJeff Erno Crypto in few weeks this is one of the best medium to backup your assets incase it goes bearish
So offer less than the asking price, no bidding wars.. sounds better to buy now than the last two years.
Thinking about investing in real estate in Canada???
Foreign investment shouldn't even be allowed. If you are not gonna live here, you are just making life more miserable for Canadian citizens.
The party's over for a while….lol
Homeowners will be very shocked when they go and renew their mortgages. Cheap money is gone and home values are falling like a knife in Ontario markets like Hamilton, Mississauga, Brampton.
For now!
Ponzi scheme and Govt allowed it
Who wants to invest in depressed place for over six months