This happened with the 2004 housing boom - home prices were greatly inflated, meaning people couldn't sell later because they owed more on the house than they could sell for. I know quite a few people who bought then, thinking they were making a good investment to sell later, but it's taken until the COVID housing boom for the prices to come back to those original amounts.

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.

Many buyers are liars. They will lie that the home is for them to raise a family but after the home is sold to them, it's on Zillow for rent. Sellers should always try to get the highest price possible

Quebec is the 40 year old, living in your basement. When your not home, they are raiding your fridge

Toronto and Vancouver real estate represents the greatest asset bubble of all time. Japan had a similar bubble about 25 years ago that collapsed for several decades. It's recovering a bit now but it certainly shook the fools out of the system

What?! Thought we were building 3.1 million homes by 2031

As long as one of the most resource rich countries in the world has 60% of its GDP based on real estate, Housing and Birth Rates will be terrible.

Gotta keep Quebec firmly in the liberal camp. Throwing out breadcrumbs a year or six months in advance of an election is an old tried and tested strategy that Pierre Elliot used often to get re-elected.

Greetings Jon. You predicted this long time ago. Some people were laughing at you. Thanks for letting us know about the truth. You & your friend @market Mania were spot on....!!!

The muppet boiler room condo flipping market is dead 😂😂

Grey clouds in the background are a nice touch

This is nothing yet ! Wait til the approach of winter.

One of the best Real Estate channels on youtube.

Storm in my background, hehe, great videos, Jon, love these, great work, don't ever stop (please and thanks).

Great channel the best insight into the RE market thanks

Hello Jon: I would like to see you do a chart breakdown on how much of that supply was allocated to Real Canadians who live in the homes themselves versus how much goes to multi property owners, foreigners, and mega financial corporate players.

Remember when buying an apartment was cheap? Remember when trailers were cheap? Supply and depend add greed, you've got this.

the canadian economy is the most incentuous economy in the world.

prices must drop by 50% or more, the market must adjust, no one can afford these crazy prices.

Listings Up, Price Reductions Up, Cancel & Re-lists UP

Reading between the line I would say we have 200000% more multi unit dwelling than we need. We don't need more condos we have more than we can ever occupy in the next 100 years

Yeah ... there is a long way to go down. Thank you Jon for all the work - always looking forward to it!

Very informative session as always. Thx Jon. Watching all ads to support u.

The reason is that most multi-family buildings in Quebec are rentals. Quebec culture normalizes renting. GTA and Vancouver are condo heavy markets, and condos are not selling. Rents are flat in GTA and the price of condos are too high for mom and pop landlords and speculators to cash flow or earn capital gains. The majority of the government money is for multi-family rentals, not condos.

So $350K per unit to Quebec vs $35K for the rest of the country? Smells like the carbon tax! ($57 per tonne in Quebec, $80 per tonne elsewhere) Anyone have a problem with that?

Thanks Mate, the sad truth is that no one has a clue, we all react to what happens as it happens and try to analyse it but can’t predict an iota of what is going to unfold in the markets… content creators are like amplifiers, when times are good they affirm it and try to tell you why it’s good and that it’s looking bullish but then all of a sudden the market turns bearish and everyone affirms it again and try to analyse why… it’s so sad that many are so powerless and it's not about guessing the market's next move; it's about playing it smart and steady during trading...managed to grow a nest egg of around 2.3Bitcoin to a decent 19Bitcoin in the space of a few months... I'm especially grateful to Kerrie Farrell, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape....

Question is what will crash first? The housing bubble? The online advertising bubble? The auto loan bubble?

Jon for PM ! Have said it before will say it again , most honest real estate agent in the nation ! I have benefited from the boom but not happy for the next generation like my kids , they will have a hard time owning a decent house 😢

I would go back to the seller and renegotiate a lower price based on the comparable sales. The seller will potentially listen if he bought another property.

Where does QC get the money to match with? Aren’t they taking handouts from the rest of Canada? Mostly Alberta 🙄

In Canada house is a speculative instrument like stocks. Until that changes home prices never gonna come down. This is combined with local, provincial and federal goverment voter base where majority are boomers and home owners don't want their prices to come down and supply is controlled. There is no incentive for politicians to touch this until the majority voter base turns to be renters. There is no logical reason for the biggest country in the land mass with least population density have the costliest home prices unless it is intentional.

First, if there was a housing shortage, wouldn’t the current listings be selling? Second, I am trying to sell and buy ag home. Nothing is moving and I am close to Ottawa. Farm mortgage rates are insane and sellers want a deposit of thousands that I could easily lose. Nobody can afford groceries but now you need to hand over thousands. I get why I have no offers now. If they don’t cut rates substantially then the market I’d down for years while people recovery from the last 8 years.

Turdeau is trying to appease Quebec for the next election.

Massive amount of listings in Okanagan, BC. New builds have slowed down. How can 1,000’s of housing units be up for sale and not move when there is a housing shortage?

nobodys buying grampa old mud hut

I dont know about the Vancouver and Toronto markets but I dont see any severe downturn on Housing prices in Quebec. It went down 2% last year and took it back since. Nobody can sell because they cant go in condo or rent as it cost the same price. Forget about serious price drops as long as mass immigration rule the place. What can be seen although would be a "plateau", where prices would stay neutral for a decade.

Here in Vancouver housing has started to crash. There are only a handfulof sales every month, and those are at significant reductions in price. Come September, buyers needing to move for school will be settled, US housing will stand still as it always does before an election, and we will see the real crash.

Great info thanks Jon 👍

Great insights Jon, much appreciated. 👍🇨🇦🍻

In the journal de Montréal there is an article saying that the price of real estate are going up . Who's right

what happened to the 53 MILLION for new housing ?

I have being following on the CREA site reporting's from Bancroft Ontario. They removed Bancroft as a reporting Board, why ???? Investors are buying 100 yr. old tear downs and trying to sell them for 500K. You Liars and manipulators !!!!

Question to @jonflynn. Is there an analysis of the number of home sales or percentage of home sales in the past 10 years that involved bidding wars that tend to increase housing prices much higher than property and market fundamentals could justify. If so, what percentage of the average home prices through the 10 years that could be attibuted to bidding wars.

Thanks mate. Keep it up

Jon has facts and cares about our feelings.

Why Québec more ? Because Trudeau is Québécois !

PLEASE STUDY AND SHARE YOUR INFERENCE ON CANCELLATION OF LISTINGS

This doesn't seem to apply to the Maritimes unfortunately. Do you think it's ever gonna get better on our end?

I love the recurring francophobic sentiments based on misinterpreted numbers. /s Truth is, land use in Montreal has been aligned with higher density for decades already and therefore allows them to meet the federal goals with ease.

The corruption that runs through this administration is getting scarier. I feel for the disabilities who are not getting the help they deserve. Anyone who is not investing now is missing a tremendous opportunity. Imagine investing $2,000 and receiving $10,020

<a href="#" class="seekto" data-time="533">8:53</a> NO BUYERS WHO CARES PRIC3 DROPS. LOW INVENTORY ... buzz word for NOT INTERESTED. real estate agents go hungry too.

BoC rate drop next week?

do you believe me now with the systems crash today? lololol

There will probably be another inflationary pulse in the economy in the next few quarters because of the container shipping rate spikes.

Quebec always gets a good deal that's why they're in Canada if they weren't getting paid they leave

In bc prices are flat for the year and with rate drop will go up again

Covid measures still at play as Jurassic NAP vs MOI death cross chart showes. Educating on historical averages a must to raise real estate literacy which benefits everyday peeps. Thanks Jon #man of the peeps

I'm buying.

How long will this cycle continue for?

I’m sure you’re a thoughtful, honest agent John, but you are out of your lane with the technical analysis hocus pocus. As Yogi Berra said “making predictions is hard, especially about the future”. How would “seasonality” have fared with COVID? The real world is more complex and unpredictable than pretty lines on a page.

Doug Ford needs to improve his negotiation skills. Leaving big money on the table

Jon, in all of your videos, you never considered population growth. Shouldn't that affect price and availability? If there is a fast increase in population, there must be some very rich people who can afford to buy at whatever price. These people can absorb whatever comes off the market and the price and availability will never come down, right or wrong?

Everyone wants low interest rates but low borrowing rates means low savings rates meaning people have to take more riskier ways to save and get a decent rate. Leave the damn rates around 5 percent no matter what. And then pay people more!! The only way out if this is higher interest rates and higher wages! Every Canadian should be screaming about higher wages. We getting raped by all the huge businesses we work for and we keep getting paid way to less compared to the continuous increase coast of living. I'm 59 and I'll be out of this rat race soon but people like this gentleman on this channel should be organizing a country or even world wide labour strike. No one should be making less than 65k in 2024 economy and I'm sorry but it ain't getting any better unless your wages follow inflation which always increases.

The information presented by these REAL ESTATE CLOWNS is contradictory. One says one thing and another something opposite! I don't think they know what they're talking about! Either that or, we are intentionally NOT BEING PROVIDED ACCURATE INFORMATION.

DOWN DOWN DOWN!

false claims about Québec they guet 900 000 000 $ or 22,5 % of 4 000 000 000 put on the table by the federal, same as there population

Jon why do listings from your office still have snow photos in the middle of July? Are you to busy making these videos to service your clients?

I was thinking of starting a business building Islamic style homes, with some of those halalala style mortgages.

is your hair down? LOL yet there are what...35,000 Condos coming to market? sad

Housing isn't a commodity

Remember 2008...that was peanuts compared to what's about to pop.

Best time to buy if you can. This is the bottom

The liberals plan to build millions of houses is really working😂😂

If we keep saying it will fall for 5 years and it eventually falls, is it sound analysis?

Sounds bullish.