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Home World News

Thinking of buying real estate in Canada? Here’s what you need to know about the latest rate hikes

CTV News by CTV News
July 27, 2022
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Financial expert Simeon Papailias discusses what anyone thinking about buying a home needs to know about the latest rate hikes.

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Comments 29

  1. J R says:
    11 months ago

    I think for many Canadians an additional $3,500 a year plus rising costs all around then is fairly devastating.

  2. George Ray says:
    11 months ago

    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 ….

  3. humungus mandingo says:
    11 months ago

    nahh thinking about moving out of this poor country

  4. Lorenzo Mabalos says:
    11 months ago

    Houses are a dead investment

  5. Ophirian Heritage says:
    11 months ago

    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?

  6. Chris Coyle says:
    11 months ago

    Don't do it. If you can sell & get the heck out of Canada do it.

  7. Mike Sass says:
    11 months ago

    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.

  8. Ron Murray says:
    11 months ago

    The Bank said they will continue through 2024. The Bank also said that real estate prices will fall into 2023.

  9. Caroline says:
    11 months ago

    He was great!

  10. Victor says:
    11 months ago

    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.

  11. COVFEFE says:
    11 months ago

    Another Canadian real estate expert from where ever the fuch he is from…

  12. RAT says:
    11 months ago

    Don't buy real estate in Canada.

  13. Flailmail says:
    11 months ago

    "Heres what you need to know…" dont buy property in Toronto or Vancouver lol prices are decent everywhere else

  14. A RZ says:
    11 months ago

    Average mortgage 400000$..This must be in LaLa Land

  15. The Wealthy Marketer says:
    11 months ago

    Never ask a real estate crook for their opinion on the real estate market 😅

  16. Arius Maximilian says:
    11 months ago

    you will own nothing and will be happy

  17. Stacey Jane McWallace says:
    11 months ago

    I recently came to Canada on a two year work permit and I am beginning to regret my decision coming here.

  18. Canadian Kenworth says:
    11 months ago

    Great advice.

  19. Z Tracks says:
    11 months ago

    High interest rates = One mans loss and another mans opportunity.

  20. Grant Peterson says:
    11 months ago

    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

  21. Grant Peterson says:
    11 months ago

    WORST ADVICE EVER

  22. Beth Alvin says:
    11 months ago

    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

  23. Emaly Nicole says:
    10 months ago

    So offer less than the asking price, no bidding wars.. sounds better to buy now than the last two years.

  24. EyFmS says:
    10 months ago

    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.

  25. Nika A says:
    10 months ago

    The party's over for a while….lol

  26. Carm Capo says:
    10 months ago

    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.

  27. Alexandra Golovenko says:
    10 months ago

    For now!

  28. Sreenivasa Vadlamudi says:
    10 months ago

    Ponzi scheme and Govt allowed it

  29. Sreenivasa Vadlamudi says:
    10 months ago

    Who wants to invest in depressed place for over six months

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