Thanks for keeping it real. 2/5 of properties are owned by investors yet we have a 'supply' problem. I am praying that interest rates keep increasing and they all get wiped out so the millennials and zoomers might actually have a shot at entering the market sometime this century.

An honest Real Estate Agent calling it out for what it is. Wow, such a breath of fresh air!

We are in a period of restrictive monetary policy. Many investors (equities) believe the FED is trying to avert a recession. The FED is looking for demand destruction to kill inflation and that means a recession. Too many believe that the FED will pivot and return to ZIRP to avoid a recession. They are delusional and don't understand how sticky inflation can be, or how dangerous it is to a properly functioning economy. Jon your work and read on this situation is incredibly next level when compared to agents, brokers, investors, and homeowners - thank you!

Want to share an experience. I came back from a work trip in US a couple of days ago. Took a cab from airport. Got talking with the driver. He has been here for 10 years, drove truck for the first 5 years and now does Uber. He has a house and then booked 2 presales condo. He now fears he won't be able to qualify for either and said lot of friends in his community did the same and are very worried now. He also said, don't buy now as he thinks prices will come down 50% peak to bottom.

Always look forward to videos from you. In Jon, we trust.

Thank you for being honest, other Real Estate Agents say " get in before prices go up " Hats off to you.

It’s refreshing to see some information that isn’t biased towards what has been largely group think based on recency bias regarding homes in Canada. Thanks for trying to stay objective Jon, it’s much appreciated!

About 10 years ago people started getting a 3rd-income = their house. As house prices continued to rise, homeowners could withdraw equity from their house and use this money make their mortgage payments and buy other investment houses. Often this income from their house / houses was 2 to 4 times what they earned from their day jobs. But this has all ended now that home prices have stopped rising, and their day jobs give only 25% of what they need to pay their mortgages.

Bidding wars are still around. My daughter and son in law were interested in 2 homes in their price range but when they learned there were multiple offers they backed off as they had a limit as to what they though the house was worth. Some sellers with their agents price their homes just a little over over the evaluation hoping for multiple offers. The homes they were interested in were under $400,000 a price range a lot of first time home buyers can still afford. This was in Quebec.

I’m so surprised to come across a honest real estate agent. You are probably the last one alive. Thank you

I’m hopeful the real estate correction continues, even possibly crashes. I’m not worried until average real estate prices go below 2019 levels. For much of the country that is more reasonable but in some of the most desirable markets that is still perhaps overpriced. Ideally housing shouldn’t be this volatile but when it’s being treated like a speculative investment we shouldn’t be surprised. Tesla has gone down 60% since I bought a stock. That was the risk I took. When people/investors start treating housing like a speculative investment they shouldn’t be surprised when it starts behaving like one.

Thanks for the article. It does succinctly and clearly make a number of highly accurate points. It does amaze me a little that the role of investors on inventory is so little discussed and acknowledged. Gov’ts last year (and maybe still this year) were desperate to create more housing construction, as though there were either very few investors, or as though, having great quantities of investors is something we want. If the latter is the case, it shows a complete dearth of vision. A nation cannot be competitive if individuals primarily invest endlessly in housing. If another nation can have it’s population primarily invest in new business, and new entrepreneurial efforts and R & D, which nation wins and puts the other out of business? Excessive numbers of investors in housing is a tragedy and I would go so far as it should be significantly regulated.

Thank you for keeping it real 👏🏻 My boyfriend and I are so excited to buy our first home when the time is right

Best Channel on analyzing the Canadian real estate market by far.

If I could give more than one thumbs up 👍 I’d give several more.

Excellent and very insightful video Jon. Going forward can you please make regular videos highlighting "The Top 10 Losers"... the 10 Canadian housing markets/cities that have had the steepest price declines from their 2022 all-time-high peaks. You are absolutely right in emphasizing that this epic housing crash has just started because people who buy real estate anywhere in North America in the next 18 months will regret it very much for the next couple of decades.

Great video Flynn. I have become a fan of your data analysis and presentation. Appreciate it.

The most important number is Dec 2022 average sold compared to past 4 years for a 5 year trend but important to break this out by major markets to get the real insight. Wide swings between regions and even between cities like Hamilton vs Calgary. Great content and thank you.

Hi Jon，Thank you very much for sharing the article.

Great information. Thank you!