Are investors fleeing the housing markets?

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Published 2024-06-14
John Pasalis, president and broker of Realosophy Realty, joins BNN Bloomberg to do a pulse check on the Toronto real estate market.

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All Comments (21)
  • @TheJackCain-84
    Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.
  • @bernadofelix
    I think it's time to make it more appealing for potential buyers. Real estate can be quite the rollercoaster! the stress and uncertainty are getting to me. I think I'll cut rents to attract potential buyers and exit the market, but i'm at crossroads if to allocate the entire $680k liquidity value to my stock portfolio?
  • @matturner8
    Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.
  • I'm hoping there will be a housing crisis so I can buy cheaply when I sell a few houses in 2025. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?
  • @Andrico77
    What!!!! No one is willing to spend 800k on a 500 sq ft box in the sky …? Shocking.
  • @001sander2
    Investors? It's more accurate to call them scalpers
  • @sylvainh2o
    Condos are a terrible investment. As it gets older the maintenance fees gets insane. You are financially responsible for what your stupid neighbors are doing. You don't get to choose what and when you do things. The quality of your neighbors worsen as the building age.
  • That is the best news for housing! The terms "investor" and "investment" are wrongly used in favorable light. The only real investor are those who add value to the society like by generating employment or adding to the GDP; not just adding to his/ her own net worth by making money out of money. Gamblers are not investors.
  • @jethier3027
    Everyone that had a house pre covid hit the jackpot they can sell their house and buy a new house no problem but first time homebuyers will never have enough money to buy a house, the house prices went up too fast for the first time homebuyers to ever be able to afford, i blame the realtors for pushing the bidding wars during covid some even got caught having their family members bid against clients its all corrupt
  • @butwhytharum
    lmfao without the floodgates of international students to rent them whos gonna pay the mortgage? and then theres whos gonna buy the property thats leveraged lolol. hilarious.
  • @ewaste8318
    This is because we don't have a housing shortage, we have an AFFORDABLE housing shortage.
  • @Marsalien100
    I'm surprised prices haven't completely dropped to pre-2015 levels with how much inventory there is. I've been making low-ball offers on a few resale condos only for the sellers to then take the listing off the market because they don't want to sell at a loss. Eventually the sellers will have to face reality and bite the bullet or they can risk going bankrupt and then the banks will be holding big leverage on the books. If prices don't drop, the banks will be having a huge crisis on their hands and it can affect the entire economy of the country. This is what leads to mass layoffs and Pension funds getting dwindled.
  • @Yaz674
    People in the comment sections talking like sky is falling. We have been there before and we will be there again and again. This just means money will be going to the stock market instead of housing. Good for stocks with dividends.
  • @mikebowers7719
    Looks good on all these speculators ,hope you loose your shirts..
  • @MapleLeafsPWN
    Why are they blaming the government for what investors bought and and builders built 😂
  • @zeshaanali8157
    Wait 1-2 more years until people run out of cash and credit to keep their 500k hole in the sky
  • @sambucivox
    of course nobody in their right mind is buying micro condos built with band aids and toothpicks with condo fees of +900 CAD and going... nope, I don't want to risk dying overleveraged in that tin can with my family.
  • @chesspain6704
    There is a huge condo development in the heart of Niagara falls that has gone bankrupt and they are still taking money out of people's bank accounts. Yikes! If you look at the people commenting, it looks like everyone who bought was foreign. Why aren't we regulating that?
  • @northernwrx
    Add condo fees and additional costs for building up keep. This is a tough market