I'm more worried about the Canadian dollar than the Real Estate Market.

I agree 100%. Never, ever trust a real estate agent.

No Permits a way out of a deal? I’m a General Contractor in the GTA, I have found live wires tried together with tape, left in the ceiling of 5 million dollars houses on the Kingsway. As well as pot lights in attics without protective housing exposed to insulation because of no permits. A 60k front entrance without a foundation under the first 2’ of the staircase, it cost a 100k to redo it all. A Great buy for that home owner.

John, I want to see you next on BNN Bloomberg!

As a young electrician, I have rough in wires and finished over 1000 units. Meanwhile, here I am, dreaming of when I'll be able to buy my own home. 😢

Bought a house in arizona in 2012. It had lost 75% of it value. 48 homes of 50 had been taken by banks. Canada...in ontario its easily 4 times as inflated as it was there. 2/2/2. 1100 sq ft house. Two concrete patios. One wrap and covered. Inground salt water beautiful pool. All raised brick garden beds around the pool. With a side lot half grass area and r.v. gate and parking pad for said r.v. and everything operating on timers fir plants and pool. I sold in 2019 when i saw people getting back in with zero down again and historic low interest rates. It peaked again at 330,000 asking and they couldnt move it. Middle class hood in Peoria az. Thats whats coming ppl.

Hi John I heard new Law income verification from CRA going to implement from October 1/24 as per CHMC . If this Law implement what will be effect on the real estate market, Thanks

Good choice

The Liberals need to hold on all this immigration. Once we get people in homes and apartments and repair Healthcare we can look at Immigration at a slower pace.

We love John Flynn. Great man. I will buy with him, once the prices on homes collapse.

Working on a house now... full permits, high end renovation company...million dollar addition and renovation. It might cost them 300k to fix the damage from rotted framing due to water leaks. The supervisor is now a building inspector in the township. Think i am pulling permits? If i do the roof may collapse before i get to fix it.

You should be talking about mean price not average

Building materials and labour,still going up!

Now imagine waking up and your country’s currency is only worth 30% of its former value 🧐 I hope you have some Silver coins 😉

If you haven't already, get a BC assessment account and look at 2021/22. blanket 22-99% assessment increases across the board year over year.

Maintaining home construction through a recession would help to bring down home prices. I’m hoping for this. I bought a house last Autumn and am okay if prices come down, it may be worth less than I paid for it already, even though I closed 5% below the asking price 4 weeks prior to my offer being accepted. Original asking price was accepted but that buyer fell through. Asking lowered 2%, I offered about 3% less and was able to close on it. Did I catch a falling knife? Maybe but I have a good home and, so long as my employment continues to be stable, I can make payments. This said: for the good of the people of this country home prices ought to come down and be more affordable. I live in a relatively affordable city so I feel bad for people in much more overpriced areas of the country. Something comparable to my 400k home would have been about $2M in Vancouver and at least $1.8M in Toronto. Basement suite and a detached garage in a good area.

Good video

Yeah, sure, jump in March cause the sellers think people are coming, then reality hits. Just because they increase the price 70k doesn’t mean it’s going to sell at that higher price. Rally in price requires buyer participation.

Jon is one of the most honest real estate agents in the industry. A true unicorn.

The real estate market is damaged prices are too high if you sell there's no where to buy good luck

Ninety-eight percent of realtors give the other two percent a bad reputation.

I think people have been constantly told by agents that the trend is up for 25 yrs and now we are finally seeing volatility, but quite frankly we have not seen the correction yet. This is how sticky inflation happens. Look back to the late 80s and 90s. And the int rates will stay high because of this sticky inflation. Until the BOC sees a real correction, and people actually think we are in a correction, rates will remain high. So as this year moves on, we will see a lot of investors and homeowners having much bigger mortgage payments and they will try to hold for awhile as they go under water. So this will take time but it is far from over. I trade for a living, I watch the treasuries, they are actually going higher and pushing 5% for over a month. This is signalling that the Fed and BOC will probably not drop rates this year. Given the crazy valuations vs wages, logic says we absolutely need a correction of 25%, but will the gov't step in and pump the market again? Time will tell.

Check for the permits always! You have no idea the crap people pull

53 year old female in Calgary Alberta……been working for 24 years straight in Canada, things are do bad for us, we can’t even afford a effing MOBILE HOME ‼️‼️‼️🤷‍♀️

Jon, do you have any perspective on how this housing frenzy is affecting traditionally affordable areas in northern Ontario? Prices are reaching ridiculous numbers that just do not make sense. We still have “affordable” prices, but people are over bidding like crazy. I just lost out on a $430k listing, we offered $480, and lost to someone bidding $520k. Why are people doing this??? They just took all their equity away. FYI the seller bought the house in 2001 for $62,000. There’s no way our generation will make those returns with these house prices.

Jon Flynn is the real guy

The Canadian Real Estate Casino is FINALLY heading for a MAJOR CORRECTION (CRASH) in the coming years. Even with rate cuts that seem still on the horizon, the housing crisis will continue well into the next decades. Affordability and Inflation will be the main sticky crises in Canada for years to come. The effects of the Bank of Canada's DESTRUCTIVE inflationary policies will be felt for decades to come, impacting the lives of entire future generations, by inheriting the trillions of dollars in household and national debt. Brace for bumpy rides shortly, starting in a few months! (After US Election) Massive life-changing geopolitical events would lead to massive global inflation and a RESET in the global economy, including Canada, which would burst the real estate/debt/asset bubbles. Warning: Massive Asset Deflation is on the horizon here in Canada, and even the BoC will not be able to save the assets and debt bubbles this time around. (1970 - 80's inflation)

As a home renovator i see over and over , these houses costing 2-3 million are not built to code, and need $1-300,000. In HIDEN repairs. No wonder people are starting to question the house renovations.

I've seen people chasing the lower sale price, and they keep having to lower their price too late. (This one person lowered 3 times to the selling price in the area and is still sitting too high since October 2023)