One of the only channels that don't sugar coat it. I think this downturn is just getting started! Great video 📹

Two single-family houses in my neighbourhood in Montreal (southwest) dropped by $200K in the last two months

Sellers don't realize just how much they need to drop prices to sell.

Thank you very much for your updated data. Good job👍🏻

My friend is a realtor in montreal region, he just closed his office last month, he said no one wants to buy a house since 4 months.

Thanks for the update. Appreciate the Winnipeg data. ✅

Thanks Jon for Montreal

Clear and concise commentary …there’s a very good reason why you are getting so many views and followers. I’m considering Niagara region and I definitely know I would feel comfortable working with you to look for a purchase in Niagara in late 2023

Thank you for the great works!

Great stuff John!

Thanks, great job showing national stats - - yes, would love Ottawa data too... Your info is very helpful..

Last Saturday I took my kiddie and her Mom to Niagara Falls for some activities and on way we saw some very cool houses in Fonthill (I guess that was the name of town). Looking at those immediately I thought about you. May be soon when the time is right will get in touch with you. You are an awesome gentleman! I feel so much at ease just listening to you…..I know I will be in the right hands. Ty 🙂

Excellent, thank you

Thank you so much. I can't wait to have your report on the Ottawa area.

Love your videos. We’re anxiously waiting for the market to fall so we can buy a bigger house for our family that’s very much outgrown the one we’re in now. Wondering if you’d consider talking about Invermere BC. It’s an eastern town very close to alberta, it’s a tourist town so very expensive and not sure if the tourism will have an effect on our market or not. I’d love to have your insight! Thank you for your content 😊

Thanks for the great info! Would love to hear some stats for St. John's Newfoundland market in future videos.

"Housing is already slowing"... that's a bit of an understatement... sales are at a 20-year low! Prices have gone down 20-30% year over year!

Thanks John

Can you post comparison’s in Niagara region comparing different area’s. Example St Catherines, Niagara Falls, NOTL, Welland, Lincoln etc etc please

Thanks for the update. I am watching the Vancouver market and will likley buy in when the time is right (maybe next summer?). Looking to pay with mostly cash so interest rates are not a concern.

The Fed is still 500 bips behind inflation. Let that sink in for everyone. Look at the US 2 yr and the 5 yr bonds. The bond market is trying to tell us something is wrong within the financial markets.

Your content is great, Can you add a segment in your next video local about prices in Niagara region!

Would be nice to include the investment properties like duplex triplex multiplex.

I’d like more stats on Niagara region

Many agents still keep saying its gonna go up soon. Better to buy now which i believe they have no idea whats coming.

Can you include Hamilton data in upcoming videos?

Love your updates Jon, thank you for your content. Best thing I've read lately is, don't try and predict the outcome, deal with the facts in front of you. Meaning: Don't fight the FED, you'll lose every time!

Great video you are entitled to your opinion I like you honest opinion lol.

Hey Jon, would love to get your comments on the recent homeowners protest that happened somewhere in the GTA I believe. Its funny how people and deluded RE Agents were happy this time last year, when RE like stonks only go up, was the mantra. Exactly what they're protesting about is something I dont get. Did the Feds force these homebuyers do over leverage?? Did they not know how variable rate mortgages work??

Canada still has too few homes to meet demand, and interest rates will not change this. At the same time, rents are going sky high, and sure we are off the highs of FEB 2022, but if you expect a massive correction you are kidding yourself. *Reviewing real estate prices month to month is a joke* This time frame makes no sense, especially for people LIVING in their homes, as opposed to investors in a property.

Regarding dont fight the fed and not buying say real estate when money is not cheap, I was wondering whether that advice depends on where one is getting the money to buy real estate? If one has to borrow to buy, then yes it's not a good idea if interest rates are high, but if one doesnt have to borrow, one can take advantage of lower real estate prices by buying then. Is this correct or am I totally out to lunch?

Everyone is missing a critical point. In Canada we do not lock in mortgage rate for more than 5 years. So what REALLY matters is what rates will be when you renew every 5 years (or every month if you are variable). Real estate values are far from stable or guaranteed but are clearly highly correlated to interest rates and payments. The pre-approved super low rates are petering out so buyers WILL be paying much higher payments. So will owners that are up for renewal. If you are in a low rate loan now just be thankful for yourself because the buyers now could care less about YOUR low rate. When you renew or lock in is what matters. Values will fall more the higher rates go. So roll the dice. You are only playing with possibly hundreds of thousands of dollars in value plus your monthly expenses.

Hi Jon! Really like your content. Myself and my husband are tryng to find a home in the Cambridge/Waterloo area. Most homes in this area are still going for multiple offers and over asking due to offer dates. We have a rate hold until December 20th, 2022. What do you suggest? We are pretty tired of living in a basement but don't want to rush into anything. Our realtor keeps telling us that if we wait to buy, we will have less buying power with higher interest rates...no idea what to do🤷‍♀

There is a scary amount of realtors home owners and banks that are currently telling homeowners that the market is fine or its hit the bottom or it will rise in mid 2023.....makes me sick to see such greed manipulation and just delusional thinking of homowners that are only surviving off of more debt...like helocs they are not in a good financial situation but they think they are that's a deadly mix.....kill the expectation and speculation

Do Victoria BC!!!

I just learned this this year. I am so surprised how interest rates effect the whole economy.

Halifax is still VERY unaffordable...

I want prices to hit 500k for a bungalow in hamilton with a detached garage in A neighborhoods which I can buy and do a duplex conversion and rent it out, which has potential to add an ADU later in the garage

Do you think Calgary is a outlier in these decreasing trends?

Hello Jon, I have a sample question for you, if a house is currently 625k @4.89% the payment for 5% down is approx 32-3300. If rates continue to increase to 7% a 500k home will be approx 3200 with 5% down. I'm curious whether waiting is worth it. Will that already low price of 625 1 hour from Toronto drop to 500k or less before rates hit 7%. I've been saving for 2+ years to buy my first home and I want to try to save as mu h monthly as possivbe when i do. Thank you in advance.

Yes Ottawa, you're worth the wait and I trust you, thanks

This is just the begginning of the pain to come.

Maybe because they were Sock Boys personal ATM

They want people who think they could retire early (the great resignation) to go back to work.

I don’t want to bet against Central Bankers…. If they don’t see the demand cool then don’t be surprised to see a full percentage point in October to cool the market. Then it just ain’t real estate that will be in trouble..

Do you hear it, whistling as the housing market dropping like a bomb in some areas, there are housing markets that are still in a seller favour, but the most expensive time of the year is coming up, if all the reports are true that many Ontarians are carrying debt not just mortgage but consumer debt, credit cards, it's Oct 11/22 and on my way home I pass a fast food restaurant that had at least ten or more cars line up, so if there that many people buying fast food no worries here, in some city like Hamilton the house prices dropping hasn't started, why because who is now been priced out of Toronto market in heading to cheaper markets, oh buyer that are waiting for the bottom, that number is getting smaller as interest rates climb

New interesting topics would be “fuel costs”, is the main inflation driver!Trudeau’s carbon tax? 🤔 Lack of single family lots

People behave like people, central banks can’t expect people to behave like trained sea lions. I want me some good deflation if I’m going to stop buying stuff.

Jon, during the hysteria of the February '22 rediculousness with Montreal wasn't it still considered an essentially balanced market? I know they saw a jump but nothing in comparison to the GTA or ON as a whole so would'nt they have had less to fall and more likely to return to a bit of normalcy fairly quickly given the new market conditions? It's like AB which has consistently been considered fairly balanced through all of this. At the moment they are seeing a bit of an upswing as people pull the trigger on making the move and the province is truly killing it on the back of the "Petro Dollar" with global oil demands but it's not outlandish and continues to ebb and flow. Its nothing crazy especially when you consider places like NS over the last year. I feel like that market has been driven more by a "FAD" as an alternative to ON and especially the GTA due to price. I think people who fell prey to the hype are going to feel the hit pretty hard in NS having paid top dollar for that region since the infastructure/jobs aren't there to support it and even more so when they try to get a doctor or need to go to the hospital...the province can't handle it. Most domestic work is very much seasonal but I do know of friend and family working remotely for Toronto based firms out there but who knows for how much longer that will fly. Primarily NS is supported by government jobs many of which are in the military sector as a major port for our Navy. I almost made the move myself but then prices when silly so I stayed put. It is too bad, its such a beautiful place filled with wonderful people. It's an absolute travesty "Energy East" never happened but so long as Trudeau is in the captains chair, we follow/rely on the US like a lost puppy and/or the WEF is calling the shots it never will. Canadians will just keep buying back and sadly selling our own natural resources from the countries who can actually refine them. Who knows maybe NFLD Hydrogen will take off but I doubt it. Also ever wonder why all the work they are doing in building/testing it is happening on an island?!?...that stuff goes BOOM real good, remember the Hindenburg!

any comment in CALGARY?

The only people that benefit on price declines are cash buyers. Not saying this is a bad thing, but for anyone taking out a mortgage what is the monthly payment with rising rates and lower prices vs lower rates and higher prices? Sales will fall for the economy is slowing taking out buyers due to economic hardship.