If rates continue to rise, then people will default. Canadians love borrowing against their homes, we use our homes to invest in more homes or other things.. and everything is in the gutter. Interest is killing people. Everything will be on sale but the question is..when ?
I look at so many people my age to 30 and wonder… doesn’t anyone care about their future? Parties on king st all week, every paycheque is spent on drinking and dining. It’s extremely confusing to me
Been seeing many areas in Brampton where people bought in 2021 that can't even make 100k profit on their homes. The amount of people who overpaid...is insane.
All my family members were called into war this morning. As many innocent people are being captured, tortured, raped, and killed in all cities of Israel. It’s been a tough morning of worrying and crying. Please pray for Israel and the innocent people on our holy day.
“Bank of Canada interest rate pause could force landlords to sell properties”. Been seeing this more and more wit investors who can’t keep up with carrying costs & dealing with nightmare tenant situations. A lot of inventory will come from those landlords as well.
Suttons holiday party this year was uncomfortable. People walking around & asking other realtors if they’ve been doing any deals & people constantly lying.
Sutton Groups Holiday Party! Such a pleasure seeing some of my old friends in the business, but you can tell everyone was in a bad mood because of the market 😂
Had a meeting at the McDonald’s across the hospital my client worked at, saw a homeless man digging through the trash and offered to buy him some food.. he rushed over to thank me so many times and then asked me if it’s ok if he orders a bit more me..I cried for an hour.
Whoever said that realtors will make more money this year compared to last year… lied. Top one percent agents that I’m friends with have even said this has been the worst year in their career.
Ontario man makes over $14,000 a month in rental income – he's only 33 years old, thats because he saved enough money for a downpayment by 2016, you can't do that right now.
The fact that I have to think TWICE before posting a photo of myself at a holiday work party …is sad. Makes me want to do it even more. As a woman, I walk tall and proud. I take care of myself financially & physically so keep the hate off my page.
Our housing market is 😵💫. Rates kept going down & prices kept going up, ppl borrowing against their homes to buy more investments & get more capital. NOW, people may default & this is how we will start see more inventory. Building wealth through real estate shouldn’t be this easy
I can't wrap my head around people buying when everyone else is buying... always do the opposite of what everyone else is doing. Rates are still SUPER high and so are prices... WHY are these agents taking advantage of these people?!
Innocent people should not be killed because of their governments. On BOTH sides. I can’t stress this enough, there is good and bad on every side. No one “deserves” to die. Especially the elderly, children, and women. Who are all helpless.
Whoever said that we aren’t in a recession or hitting rock bottom.. is out to lunch. Most people are not realizing what’s going on. Unfortunately many of my clients looking to rent probably won’t secure anything because they don’t have 12 months up front. Sad reality
When people ask me if the real estate market is getting any better...we are not even close to the explosion.. rate hikes take time and its also the amount of time interest will remain high that will continue to destroy people.
I went to a bar last night in New York called back room. Back in the day when alcohol wasn’t legal during the Prohibition AND 1920s it was the headquarters of Murder, Inc., deadly Italian-Jewish Mafia headed by Meyer Lansky and Lucky Luciano.
To think about how expensive it is to buy & own a 1 million dollar property right now is crazy, the monthly costs..let alone how expensive life is in general.
This agent has been in the business for three months, and he’s starting a full on podcast about “everything real estate”. How’s that safe for the industry ? The experience isn’t there yet…
@JustinTrudeau
Until they realize that they can’t sustain a life here with these wages and prices. Then I wonder where the money will come from to support them …our pockets.
Not everyone who bought real estate in early 2022 were trying to make a “buck”. A lot of people who wanted to get into the market and become FTHB and weren’t guided with care.
I’m living a nightmare. Everyone around me is crying and everyday I wake up to someone I know dead, or know someone who knows someone who is dead, kidnapped, and worse. The news I receive on a daily from family isn’t fathomable. I have no words, I’m disgusted in humanity.
Called an agent today asking if his clients would budge on price… he said by 20k, I threw a number out and he hung up on me. What if your client decides to let it go for the number I threw out? and you didn’t even get my contact info..
“Sellers take a $140,000 hit on house bought at the peak of the market”. Many people will take a hit, real estate is a buy and hold. People get mad when they don’t see their homes appreciating 300k in a year.
It’s true, listing price means nothing. I’ve seen agents now using the same tactic, 200-300k under value with an offer date. Then saying they sold 91811918% over asking. If people are still this naive, we got to straighten some things out. Thinking it’s TIME to sell
This isn’t a real Muslim. I just want to be clear. This woman has been reported to the cops. She lives in Mississauga, let that sink in. She supports Hamas. Hamas is responsible for the deaths of many innocent people. I’m very concerned.
“Well first of all Hamas is not a terrorist group…every single thing that they do is justified”
- Murdering babies
- Burning children alive
- Beheading civilians
- Kidnapping children
- Raping and murdering at a concert
- Shooting dogs
is “justified”
This isn’t a real Muslim. I just want to be clear. This woman has been reported to the cops. She lives in Mississauga, let that sink in. She supports Hamas. Hamas is responsible for the deaths of many innocent people. I’m very concerned.
House in East Gwillimbury expired at 1.4 million after 60 days. The house next door sold for 1.726 in seven days in February. No wonder why sellers are still waiting for unrealistic prices.
Don't send me messages saying I am not honest because I have chosen Real estate as a career, I decided to go this route to be different & stand out. I can't work a job that I don't love..its not in my nature. Get to know me before being hateful.
Another call from an agent telling me that my client is not a good applicant for a 2400 dollar listing. When his credit is in high 800s, stable job for over 8 years and good income. Ridiculous. Majority of people don’t make 6 figures alone.
To think that making 10k a month really isn't much and that majority of people don't even make that after taxes...but then buying a 700k condo is almost 5k a month just for your mortgage.
Bunch of older realtors at my office getting mad at my success is sad. Especially because I worked there before I was even a realtor, and learnt so much from so many of them. I let other peoples success motivate me.
The older generation constantly makes people my age feel like it's our fault we can't afford housing, as if we could put a downpayment at ten years old or were able to investment as early as 18. Many of us also weren't financially literate or were prepared for this
I said this last year on Twitter and everyone was tearing me apart saying I’m horrible because I don’t want immigrants… I was genuinely concerned people would be homeless. Now that I work with new comers.. I hate that I was right.
Residential property tax can go up to 16.5 percent without an additional 250 million from the feds to fix this refugee shelter crisis. How is that fair ? This country is broken.
Next Christmas, hopefully there won’t be a crazy storm but I’m going to do a food drive in Toronto. I figured, since I don’t celebrate Christmas I can help people who can’t. This is what I’m looking forward to.
I would sell before overload of inventory if that's where we are headed. I also heard rates will go up in Sept (90 percent), if anyone could confirm, let me know.
Showed some commercial units today, all on the market for over 70+ days but the minute I show them..the agents are receiving "offers". I can tell which agents are bluffing and which aren't..
My client just won a bidding war. Against four. Can you believe it? A bidding war. No inventory. Secured a condo town over 1400 sqft for under 650k ( most sold for over that in the same complex). Not firm yet, got away with conditions. It’s the closing date that did it for us.
My phones been blowing up from this article. I guess it hasn’t been talked about enough since people are actually this shocked, my clients can’t believe that people were paying up to 15k for fake docs.
This country is in shambles & been getting worse. Canada has changed @
& I have people on Twitter attacking me saying “ at least we don’t live in a 3rd world country”. Ok? So that means we should deal with what’s happening to our country ? Let them tax us as much as they want ?
Why do I have to wait 4 business days to hear back from another realtor? its been getting out of hand. its not just 1-2 agents, its been every agent in the last three weeks.
People DMing me on my socials that in March the agents were forcing them to buy, while telling them the market will get hotter in the summer for them to sell. What do we have now ? People that have purchased at the peak of the market and now can’t sell their homes.
We are in a buyers market. There is a lot of inventory & while some areas may be more competitive..anyone looking to purchase condos right now, definitely should.