Great video, The first $100,000 invested was amazing. But when you hit $300,000 it’s like smashing the glass ceiling! I cried.

@soniajames-tn4mp

3 күн бұрын

I completely agree with you! My first 100k took a long time and wasn't that special to be honest with you. Once I hit 300K that is the game changer in my opinion. At this point my money is basically making me a pretty good yearly salary. When I go to sleep at night I know my money is making decent money with the help of my FA

@rapp-in1mz

3 күн бұрын

Nice. People often underestimate financial advisors' importance. Over 50 years of data reveal that those who work with advisors typically earn more than those who go it alone. I've been fortunate to work with one for 13 years, resulting in a $1 million portfolio, largely from early investments in AI and other growth stocks.

@bonner-qv3mi

3 күн бұрын

I've been considering but haven't been proactive. Can you recommend your advisor? Could really use some assistance.

@soniajames-tn4mp

3 күн бұрын

Angela Lynn Schilling is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.

@bonner-qv3mi

3 күн бұрын

I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip

Yay, speculators getting punished!!

@JP77999

7 ай бұрын

How long until we taxpayers get punished by having to pay for bailouts?

@davidhughes6048

7 ай бұрын

JP you’ll be waiting a while. These won’t be CMHC insured properties for the most part, so there won’t be any bailouts.

@NewYork0110J

7 ай бұрын

I think it is other households who are sufferring more than speculators. Sp3culators made some money and can loose some but other household never made money but only loosing.

Looks good on people who live beyond their means. The life of the rich and famous is not for the broke and jealous.

@jessicasquire

7 ай бұрын

The FED is to be blamed for economic crisis, they ultimately benefit from buying failed banks, houses or even cars cheaper. Oh well, they can print credit as long as someone will borrow it into existence, but production cannot be printed. Right or wrong?

@Erikkurilla01

7 ай бұрын

Absolutely Correct. The policy making by the Fed has been a disaster. The govemment has ruined the lives of millions by turning on an endless paper printer. Ideally, advisors come handy on how to grow your money in times like this.

@patrickbrussels4454

7 ай бұрын

Congrats! although I love to stick it on my own, now I'm considering a sort of guide or coaching due to market uncertainties, would you mind sharing information of your consultant please? I'm in dire need of portfolio assistance.

@patrickbrussels4454

7 ай бұрын

She appears to be a true authority in her profession. I looked her up online and found her website, which I browsed and went through to learn more about her credentials, academic background, and career. She owes me a fiduciary duty to act in my best interests. I set up an appointment to use her services.

@rickbrown4039

6 ай бұрын

100 %

I knew this was going to happen... We were in the market for a cottage in 2020, after years of saving and paying down debt. The buyers at that time were just insane with their valuations of cottage properties that we just didn't feel comfortable with the crazy high prices people were bidding for vacation properties. After being, essentially, bullied on every property we put offers on, we decided to step back. We knew that this time would come soon enough, where these idiots who were paying outrageous prices, were going to have to take a loss to offload. We're still playing the waiting game, as some of these mortgage renewals are still a couple of years away, and the economy is tanking. We may just get that steal of a deal yet!

@drajah1986

7 ай бұрын

Wish you well. Hope you get the right property.

@jmela1370

7 ай бұрын

Best to wait 2-5 years and watch prices drop to 2015 prices Patience is key whether for. A vacation home or even a primary residence now Also with the upcoming recession, and CEBA deadline approaching in January the job market could collapse Banks will tighten credit/lending and forced sales will spike Best to watch and wait as prices collapse It’ll soon collapse faster than they rose in 09/2020 to 03/2022

@donaldatherton319

7 ай бұрын

Best wishes . We bought at the early part of the upswing,another year and we would have been priced out of the market. People are idiots with money, get into a frenzy,houses or cottages,whatever is the latest fad.

@davidhughes6048

7 ай бұрын

If you wait until 2075…oh, hang on.

@SuzukiKid400

7 ай бұрын

@meethed you’re one of the few smart ones out there. Most of those people pushing the prices up couldn’t afford those properties even before the price hikes even though the banks continued them they could.

Its not that cottage life isn’t for them, its that their employers said get back to the office or you’re fired.

@central3425

6 ай бұрын

That's part of it but also the honeymoon has worn off. When your mortgage is worth more than your property you start to feel pretty bad It felt good when values went up and up but that can't continue forever

@JEdwarrd

6 ай бұрын

U either sound like a bitter employer who likes the power to condescend to staff or a person so jaded by our economic system u bash an inspiring new way to think abt work. Psycho-social studies have been down on corporate culture & have exposed the pathological narcissism rooted in corporate hierarchy.

@central3425

6 ай бұрын

@@JEdwarrd I don't know how you got all of that from the OP. he's not wrong though, many employers are forcing their employees back to the office.

@opinionshurt2905

6 ай бұрын

@@JEdwarrd tell DGG I said hi

@JEdwarrd

6 ай бұрын

@@central3425 Then u clearly don't introspect abt how our economic system has been distorted by overt corporate corruption, and a major wealth transfer has taken place over the past 3 yrs. If we live in the land of "corporations do no wrong", then I can understand where your delusion comes from.

Excellent and honest interview. Cheap money is gone for homes they couldn’t afford or Airbnb speculators. Cottages are nice to have, but it should be considered a luxury. It’s only going to get worse.

@trentriver

7 ай бұрын

That fact that so many people on this thread are saying, "It's only going to get worse", tells me we are well into the correction now.

@allenl9214

6 ай бұрын

Yeah.. Seeing all these cottage listings on Instagram and social media makes me want to save up for a cottaage and own one also but realistically thinking, I ask myself 'is living day in day out by the lake, fairly isolated from city and life in general really fun and what I want? Cottages are a nice escape during weekends once a while during summer. Its truly a luxury home, not something as a primary home for most unless you're retired or truly enjoy living in solitude surrounded by nature.

@compytv8636

6 ай бұрын

​​@@allenl9214Not many people can handle full time cottage life. I on the other hand absolutely love living isolated in a very private remote waterfront property near parry sound. I have a condo in toronto I use once in a while for vacation. It's like reverse cottage 😂. Not sure if anyone else does that😮

@allenl9214

6 ай бұрын

@@compytv8636 are you retired or near retirement? 😁

@mattwood3773

6 ай бұрын

​@allenl9214 see the point of a cottage isnt what people today want. It was a shack with beds and a tv with bunny ears. Maybe watch a hockey games in black and white fuzz. Muskoka is a joke. There summer homes not cottages. I live here it's great to watch. " lets spend 2 mill on a 500k cottage" that's the smart covid buyer talking he watched some youtube real-estate guy tell him that

Please correct your title. Pandemic buyers are struggling to unload their cottages because they are NOT willing to drop the prices enough. If they do, unloading will be quick

@seanyoung5397

7 ай бұрын

True. But if they lower the price they will take a major loss which they probably can't afford.

@donm2067

7 ай бұрын

​@@seanyoung5397that's how the free market works, sometimes you win and sometimes you lose.😊

@teagan_p_999

7 ай бұрын

@@seanyoung5397 I bet they can, they just don't want to.

I feel so bad for those people that can’t afford to keep their second home or holiday properly, meanwhile, I am struggling to house my family in a rental that is forever increasing! And by the way, if you can’t tell, I’m being very sarcastic !!

@vikingmike8139

7 ай бұрын

Those same hive minded morons can always slap on some heavy eye makeup and tight nylons and sell their assets on the street corner to make up the difference. Their mouths are really beautiful from what I understand. Cheers!

@ryanarch9934

7 ай бұрын

@@tommcd8471 Anyone who voted the Liberal government into power can take responsibility. People who totally abandoned all basic economic fundamentals and common sense. Now we see the results of the Liberal dreamers policies. Currency run on credit and now the payment is due. The worst is yet to come.

@user-zp7jp1vk2i

7 ай бұрын

This is their third home. The second one has always been in Scottsdale for the winter. Please.

@rubyoro0

7 ай бұрын

Glad to know you really aren’t struggling.

@user-zp7jp1vk2i

7 ай бұрын

@@ryanarch9934 really? this has been coming down since BEFORE Harper was in power. you know NOTHING.

Remembering the early eighties: rural cottage and farm areas were the LAST to go up in price, and the FIRST to start coming down. What a surprise. Hit me in the face with a cold walleye.

My first cottage cost $1,700 for the land and $1,200 to build. Today cottages are the purvey of only the rich, kids today will grow up never knowing the pleasure of sitting on a dock and fishing. So many things have been ripped from the hands of the "middle class".

@jonathanandrew2909

7 ай бұрын

I hear you. Nowadays it’s better just to drop a few $grand to rent a cottage the short period of time you actually use it than to pay $100,000 in mortgage interest.

@santaclause7676

7 ай бұрын

Don't need a private house to sit on a dock in a lawn chair and fish every lake i know has a dock.

@jonathanandrew2909

7 ай бұрын

@@santaclause7676 exactly. Sunsets by the beach don’t cost a thing.

@iansisberg5745

6 ай бұрын

That's incredibly 'Well said' Terry!!! It's "Very sad"!!!

It is no surprise that over 3 million are still good - people who can afford 3 million are not worried about interest rates.

@MustyBastard

7 ай бұрын

cash buyers

'It's rough for the average cottage owner" Nobody feels sorry for any of them, that's what happens when you are living beyond your means and what to play rich and act irresponsible, sell your investment that you could'nt afford in the first place😕😕

@thedualtransition6070

6 ай бұрын

Cottages were already way overvalued before the pandemic!

People are starting to realize that the purchase price of a cottage is just the beginning. Property taxes, utilities and most of all maintenance (which is usually higher than the maintenance cost for their primary residence) plus of course the mortgage or HELOC interest, add up very quickly. Plus, there is the frustrating drive to and from the cottage each weekend, the "chaining" effect (the reluctance to go anywhere else because this place is costing us $2,000.00 per week to hold on to) and the waning interest that the kids will express as they get into their teens. Yes, I have been there and done that.

@benhaze1010

7 ай бұрын

Spot on.

@jct4418

7 ай бұрын

Lol yep, sold mine at the right time I guess.

@trentriver

7 ай бұрын

Somewhat true - but I will add, what passes for cottages today are luxury homes in many cases. I own a cottage - not that bad at all to maintain as long as it stays a cottage. People think that a cottage has to have 5 bedroom, a jucuzzi, and a $100,000 boat to go with it ... those are not cottages. Again, sadly, people have been convinced that is what they need ... they don't.

@SuzukiKid400

7 ай бұрын

@@trentriverwise words! Simpler is better for a cottage.

@mllewong

7 ай бұрын

​p

Great honesty and transparency. Very refreshing to hear someone in the real estate business shoot straight on the issues.

Realtors are somewhat responsible for this mess. Few were telling people that the bubble would burst.

@Linescrew1Canada

7 ай бұрын

Realtors are salespeople. Nothing more, nothing less. They have zero incentive to be honest to their customers regarding the cyclical potential of the real estate market. Even this dude puts a little too much lipstick on the pig on how things will eventually end up.

@christophercharles3169

7 ай бұрын

Not to mention the biding wars and the unethical real-estate practice of having prospective byers biding against other undisclosed offers. I couldn't believe when I questioned my re-estate agent about this practice when he was assisting my son with a home purchase. He stated that it was for the benefit of the seller. Not difficult to see how this could influence sales prices. Makes one wonder if all of the supposed competing offers were legit.

@beevee24

7 ай бұрын

Boo boo. Maybe their mommies and da da's should have said something ....

@Linescrew1Canada

7 ай бұрын

@@Cutlerypotato True.

@hz240

7 ай бұрын

Yet people are gullible enough to swallow what they are fist fed. The realtors role is to sell and maximize profit for their own benefit not provide financial advice.🙄😒 The responsibility rests with the buyer.

To risk your financial future for a cottage is so sad ... people want everything right away and are blinded by what others are doing. I was always a saver and kept money aside for the proverbial "rainy day" and it has paid off. I'm not rich, but not poor and able to meet all of my financial obligations. What we need is a Personal Finance 101 course for everyone in our school system - so important.

@paulm2041

6 ай бұрын

The reality is most people know their things but choose to ignore them. It's human nature go feel greed and, jealousy and envy. I am not religious in the slightest, but these human emotions were even written about in the Bible. People will always want what some else has, and then more. I suggest googling "he who dies with the most toys wins". Endless consumerism. It makes me sick. It sounds like you have a handle on these emotions, which is better than most. Good on ya.

No one buys cottages for the short game. And if they do? Take the lesson.

Wow. The definition of a "cottage" sure has changed since I was a kid. I'm really out of touch I guess.

@pakeshde7518

7 ай бұрын

sadly the era of a small shack basically on the lake the parents once owned is dead. Its a mini mansion or swanky rental villa for tourist trash to soak up.

@toddlavigne6441

4 ай бұрын

these are mansions on lakefront property

So the people who had FOMO during the pandemic and helped cause prices to go through the roof by paying the outrageous prices, are now trying to find some other sucker to pay as much or more for the same property. Good luck with that! I’m sure many of these people also watched way too many KZread videos about making millions on AirBnB. It’s hard to feel sorry for these people

@donmckechnie4129

7 ай бұрын

HGTV property brothers

@MrJx4000

7 ай бұрын

Yup, it's called the *Greater Fool Theory* of investing. Prices go up because people are able to sell overpriced securities to a "greater fool," whether or not they are overvalued. That is, of course, until there are no greater fools left. --Investopedia

@Carolinapetroska

7 ай бұрын

LOL I am laughing so loud at those dumb people.

@toddlavigne6441

4 ай бұрын

Thinking emotionally gets you in trouble when it comes to money.

wait till 2025 when the 5 year fixed start rolling over from ones that bought in 2020 , that is when the real deals will happen.

@baseline6786

7 ай бұрын

By then rates are back under 4%

@jonathanandrew2909

7 ай бұрын

@@baseline6786no they won’t. We’re doomed!

@seanyoung5397

7 ай бұрын

Rates will stay high of 5-6% as this is the historical rate.

@jjnich4915

7 ай бұрын

@@baseline6786 lmao not a chance!

@baseline6786

7 ай бұрын

@@jjnich4915 says the people just wanting to buy a home.

I am from muskoka and am back home from Vancouver for a visit. I am genuinely worried for my friends that are cottage builders. they grew very fast in 5 years and have told me work has slowed significantly, while the loans they are paying on heavy machinery and spec properties are going way up.

@lorak3079

7 ай бұрын

I wonder how this environment will impact prices on BC mainland and the Island?

@Wutaskier

7 ай бұрын

@@lorak3079 they are lowering as well.

@tonysopranosduck416

7 ай бұрын

I think Scott McGilvrey’s show about cottages as short term rental income greatly increased this volatile market. He still spews the dream of cottage ownership for retirement and makes it look so appealing, and his numbers are never truthful. Ever. He’s greatly to blame for speculation investing in Canada and now is on Instagram and FB advertising his real estate investment income program. They offer a weekend free course and I took it…highly predatory and uses the same tactics as MLMs to get people sucked into buying “the program “ and even pressuring people to use their RRSPs etc for real estate investment…..in his own “private and exclusive projects “! He needs to be investigated.

@klnrklnr4433

7 ай бұрын

I mean thats the risk you take running any business. theres always lean times.

@user-zp7jp1vk2i

6 ай бұрын

@@lorak3079 old money, laundered money, stolen money. no impact at all. retirees from all over Canada want to retire or base their boat on the Island. Vancouver? International destination See "City-Data"....posters have been calling for the "coming Armageddon" for four decades now. Isn't going to happen.

Kind of hard to feel bad for all the people that made me feel like a POS because I rent.

@vikingmike8139

7 ай бұрын

Your risk is minimum, and a good position to be in. The hive minded brainwashed morons who confuse 'buy' with 'finance' will be using [their] mouth in the back seat of an SUV to earn enough for a cheesy burger. Oh well.

@tommcd8471

7 ай бұрын

no one made you feel like a POS because you rent, you put that in your own head. That being said they took a gamble and lost, tough for them but thats the way it goes sometimes.

@baseline6786

7 ай бұрын

​@@tommcd8471cottages prices went up 100% it seems so falling 30% is still good return.

@AdolfTrudeau

7 ай бұрын

​@@tommcd8471vote liberal if you want to see the economy keep getting worse

@jason19872011

7 ай бұрын

People called me dumb for renting. It is a cult in Canada.@@tommcd8471

It’s not the cottage life that’s the problem. Once money isn’t cheap the toys and extras get dropped first.

My generation can’t afford a starter home so I have ZERO remorse for investors.

@donm2067

7 ай бұрын

You should try having richer parents

@santaclause7676

7 ай бұрын

Get of your ass and try a real job that doesn't include having to stock shelves in some Walmart.

@leagueaccount6254

7 ай бұрын

I love hearing fellow millenials and people younger complain about how they cant buy a house, when they go out every weekend to bars and restaurants, buy fast food all week, have subscriptions to 5 different streaming services, have to live downtown in the "heart" all want to drive audis and bwm and lexus lol, spend money on expensive clothes, then they are like i cant afford a house. LOOOOL

@donm2067

7 ай бұрын

@@leagueaccount6254 lol ok boomer. I look forward to you going into the old folks home, where the nurse won't change your diaper

@nathanmcmillan5271

7 ай бұрын

@@donm2067the arrogant boomers will greatly regret their decision to saddle future generations with debt when they realize we’ll care as much about them as they did about us.

banks used to do 3 foreclosures a month now over 200 a month tons of properties abandoned

@kq124

7 ай бұрын

source?

@Alex-kb9rd

7 ай бұрын

​@@kq124some power of sale/foreclosures are posted by realtors on Facebook groups like Toronto real estate condo assignments etc

@redeye1773

7 ай бұрын

@@kq124 bank employees will tell if ya ask

@alexw702

7 ай бұрын

Source: Trust me bro

@funkspinna

7 ай бұрын

Where? Source?

I remember as a younger man, I had to sign a mortgage at 21.78 % in the early eighties, and due to low house prices,and it didn,t bother me a bit , And when you,re a young man, you,re not that rich

Because they bought the cottages at inflated pricing, and now they are trying to sell them in a flooded market. They need to take a loss or get stuck with them. I don't feel bad for them. They weren't even suppose to be travelling to them in the pandemic anyway. It was just a way for people to get out of the hellhole that is anywhere in the GTA during the pandemic.

@62Cristoforo

7 ай бұрын

I’ve lived downtown all my adult life, and the pandemic was one of the best times of my life; peaceful and quiet, no crowds or loud cars and Harley’s. It was relaxing.

@bq6162

7 ай бұрын

The pandemic/vaccines was the biggest scam of all time and I lied to authorities to travel back and forth to my cabin every week and couldn’t be more proud of myself.

@Louisthefur

7 ай бұрын

So they weren’t supposed to be isolated in their cars and travel to a cottage that is isolated away from people during Covid? Wow Ontario had retarded rules!

yall are paying 1 million for a hundred grand worth of pissed on mud huts

@vikingmike8139

7 ай бұрын

That is correct.

@amineaiffa

7 ай бұрын

LOL

@jp6614

7 ай бұрын

Goodness!

Don’t worry. Next year 1.4 million immigrants are coming. Put 18 people in 1 of them.

@chriswhynder8311

7 ай бұрын

1.4? where you read that at?

@canadahodl5941

7 ай бұрын

Oh wow stuff I cited was deleted. Anyways. Google 1.5 million Canada 2023 - 2025 and you’ll find it.

@shperax

7 ай бұрын

Canada's population is growing at a record rate. It's mostly refugees. It's part of a Liberal scheme to buy votes. Once you have a few here, they will simply vote for the party that brought them here, and is most likely to get the rest of their extended family here in the future.

@MustyBastard

7 ай бұрын

Indian veggie boys only !!!

@mimesis

7 ай бұрын

You do realize that 2023-25 is a period of three years, right? You likely did, but just wanted to make an inflammatory statement about immigrants. Mission accomplished!👏

A lot of people in the under $3 million in the Muskoka cottage market will be losing their shirts. Just have to accept it and unload due to high interest rates, which will only get worse and worse for both buyers and sellers due to the lag time. It’s usually about 2 years after rates are changed that the effects are felt, and the effects of the dramatically risen rates are yet to be fully felt.

@vikingmike8139

7 ай бұрын

No problem.

@chriswhynder8311

7 ай бұрын

some of them wont be able to sell though because they over payed with a loan

@gk6199

7 ай бұрын

Then banks can take them. That's what happens when you make misguided purchases.

@jonathanandrew2909

7 ай бұрын

@@chriswhynder8311somethings got to give.

@lmtada

7 ай бұрын

Rates are finally normalizing to pre 2008 great financial crisis levels. Normalcy = 7-9%. Recorded from 2000 years ago.

I attended a seminar by the Royal Bank in Vancouver a decade ago on the new Code for "Laneway" homes. The bank was going to give 100% financing IF you and your spouse rolled over ALL your debt into the existing house and lot. ALL debt: cars, credit cards. THEN???? The bank was going to GIVE BACK to your spouse all the cards with ZERO balance. Anyone see where this is going??? The bank has your tangible improving asset by the fangdangoes, you go DEEPER into debt. and they can't lose. You can.

@icantwiththis

Ай бұрын

Buy bank stocks

This was bound to happen after people have get in at any cost there generally comes a time when they can’t get out at any cost. I think the used RV market is going to be very soft in the next few years as well with so many people buying because of covid and many find it’s not what they expected. The payments and the cost of storage don’t go away even if you don’t use it.

Funny how this is looking exactly like the market for pets. People bought cats and dogs left and right during corona, but after people had to return to work, people started getting rid of them. Now its cottages and at the moment young people are getting houses because theres a lot of corona-babies. I believe that we are just getting past a hurdle. Right now people are willing to buy because they need a house for their family.

@klnrklnr4433

7 ай бұрын

takes a special kind of lowlife to abandon their pet.

@iansisberg5745

6 ай бұрын

What do you mean that "People are getting rid of their pets???" You don't mean "Abandoning them", do you??? You don't mean that "People are driving their now unwanted pets" out of their neighborhoods, and, letting them out of their cars in some ravines, do you???

@nickben8668

6 ай бұрын

@@iansisberg5745 all i know is that shelters and sites lile craigslist were getting flooded with pets.

in what world are those enormous $3m houses "cottages"?

This realtor is just trying to jump start the fomo again.

@vikingmike8139

7 ай бұрын

Gaslighting and more brainwashing from a moron with [his] own self-interest and agenda.

@musicbygoldenj

7 ай бұрын

100% Anyone buying right now = dumb money

Cottages ? They look more like mansions. But then the "ponds" in Canada frequently have seaplanes on them. Wide open spaces. I love it.❤

@TheNewMediaoftheDawn

7 ай бұрын

To be fair those were pics of 2-3 plus million dollar “cottages”, most Canadian cottages are 2-3 bedroom small “shacks”…. Still awesomely though.

@steadynumber1

7 ай бұрын

@@TheNewMediaoftheDawn Thank you for the insight 🇨🇦 🇬🇧

Imagine that...a whole raft of folks who left the cities to live in cottages are now faced with the reality that their work from home future isn't at all what they were hoping for. We all knew it wasn't gonna stay that way. We all knew that eventually more and more places would be on the "return to office or else" trail. A large portion of those outfits that sent everyone home own or lease their fancy offices and all that space comes at a huge cost. There was no way that they were gonna keep people working from home while sitting on tens of thousands or hundreds of thousands of square feet of space that wasn't being used but still being paid for. They have too much tied up in those spaces to ever consider allowing their workforce to remain at home for longer than absolutely necessary. It sucks. Don't get me wrong. Society in many MANY sectors proved that they could be just as productive if not moreso by working from home. That doesn't matter however. If not for those spaces sitting empty but still needing to be paid for...most of us would still be working from home indefinitely.

@JEdwarrd

6 ай бұрын

This is more about ppl buying property to fit a luxury mindset. What is more ironic is that with climate change being very real, cottage country will not be a relatively safe investment. These same ppl voted for politicians that keep making the problem worse while complaining. Doug Ford & the Green Belt is exact proof of the type of normalized corruption.

My wife and I said over and over during this nutso migration, "they duffices are going to regret it". They paid more than they needed to when they moved because of phoney bidding wars, then when the boss says you have to come back, uh oh, now the mass migration back is going to drive Toronto prices north and they'll be screwed on both ends.

Real estate agent admits foreign buyer restrictions do have an affect on housing markets. Good to hear.

@Cutlerypotato

7 ай бұрын

All you have to do is enroll at humber/seneca/ for one semester and you get out of the foreign buyer tax

"A lot of people bought on a line of credit", showing how much the banks fuel such things through lax lending in the good times. Primary house goes down in value so line of credit gets yanked/reduced, but the cottage is now underwater! Just crazy.

If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to build generational wealth and cultivate financial knowledge, you must be in the market......

@Florencecoxx

4 ай бұрын

That's awesome to hear. I invested 5k in Robin hood about a year ago and it steadily went down, now my portfolio is down to $800. I don't know what to do and i am in between jobs.

@melissagrice

4 ай бұрын

@@Florencecoxx Understanding your financial needs and making effective decisions is very essential. If I could advise you, you should seek the help of a financial advisor. For the record, working with one has been the best for my finances.

@Florencecoxx

4 ай бұрын

I’m Glad i stumbled on this. Please, if its not too much of a hassle for you, can you drop the details of the expertise that assisted you and how to get in touch with him.?

@melissagrice

4 ай бұрын

@@Florencecoxx I get guidance from *Mr Gary Mason Brooks* . Most likely, the internet should have his basic info..

@zombie15ish

4 ай бұрын

@sheilajensen This is the Fourth time I'm seeing someone talking about Gary as there are lot of testimonies about him on Facebook. Do you know him ? if yes , did you work with him?

Realtors and lawyers, about as trustworthy as used car salesman

@Up_north_with_Mike

7 ай бұрын

Realtors have done nothing to the market. It’s the buyer and seller. Try to wrap that around your head. Realtors only follow the instructions of the customer.

@nyceteris

7 ай бұрын

No property for you

@ingridkivi3024

7 ай бұрын

You got that right😅

@TO-YA-LA-TOYA

6 ай бұрын

@@Up_north_with_Mike 👎👎👎👎Realtors were creating the hype leading to multiple offers.

How many buying agents are telling clients that prices are gonna tank? Probably not many of them. Real estate agents are bottom feeders on par with lawyers.

Buying the property is as simple as signing the mortgage agreement. It becomes difficult to honor that agreement when rates change over the amortization period. Sellers will be stubborn and hold until foreclosed.

@jk-califkid5017

7 ай бұрын

Perhaps it is like a stock seller who holds onto the weeds

pure cottage owners. it must be so devastating for them to lose their 2nd or 3rd property.

@Carolinapetroska

7 ай бұрын

llol

@Rob-yv2xf

6 ай бұрын

Same with all the people that bought invest properties like condos! The only people that benefited were real estate agents and real estate lawyers!!

@Partizan-one

6 ай бұрын

A lot of these families are middle class and were struggling mentally being locked inside. Cheap money made them make bad decisions, and now they will likely lose their house and cottage. It is absolutely devastating. Imagine if it were your own parents or grandparents.

@OlegScherbina

6 ай бұрын

@@Partizan-one I am upper middle class and just simply don't have money to buy a cottage. Are you kidding me?

@Partizan-one

6 ай бұрын

@OlegScherbina then you are not upper middle. Which is fine, but does that mean that it is ok for families to lose their years worth of work because of poor government policies and the lack of education in the financial system offered to kids as they grow up.

This could go in the bag holder's hall of fame

The current housing crisis in Canada is unfolding as a multifaceted challenge that requires our collective attention and strategic solutions. As real estate prices continue their upward trajectory, the dream of homeownership is slipping away for many hardworking individuals and families, leaving them in the throes of an unsettling rental market.

@johnsoncoleman1293

7 ай бұрын

Absolutely,. The crisis isn't just affecting potential homebuyers; even those fortunate enough to own homes are experiencing the ripple effects. The accompanying surge in property taxes and maintenance costs has propelled the overall cost of homeownership to unprecedented levels.

@FabianCruz-yj7pi

7 ай бұрын

▪︎▪︎ In times as financially precarious as these, seeking counsel from a seasoned financial advisor becomes imperative. Professionals like Kayla Tabitha Rodrigues have honed their expertise in navigating the intricate web of real estate and financial intricacies, offering guidance and strategies to help individuals and families make informed decisions

@cloud_ix_

7 ай бұрын

¤□Kayla Tabitha Rodrigues's name has frequently been associated with proficiency in real estate and financial matters. Her reputation precedes her, and she has a knack for providing tailored solutions, be it for aspiring homeowners trying to find a foothold in the property market or existing homeowners striving to maintain their financial equilibrium amidst these challenging market dynamics.

@MimaLopez-jt4vq

7 ай бұрын

You're absolutely right, I've been keeping a close eye on the housing crisis, and the financial strains it's causing are undeniable. It's heartening to know that there are experts like Kayla who can offer practical solutions.

@johnsoncoleman1293

7 ай бұрын

I'm intrigued to know more about the kind of advice kayla provides. Can she really help people in such dire housing situations?

No problem. [You] can make that up with volume.

Let's play them a song on the world's smallest violin.

A line of credit? My heart is breaking.

Those are supposed to be cottages? They're f'n mansions. When I was a kid, a little cabin on a beach with no hot water was all my parents could afford to rent for a week and we were thrilled. Fuck'em.

@rubyoro0

7 ай бұрын

Dude…we never had the privilege to rent a cottage, much less on a beach. Should I dare say f u? Lol.

you are just a tenant to the banks at the end of the day.. the banks are laughin... 'hat in hand' that's for sure. rates need to go higher to correct to normalcy.

The banks are complicit by offering enormous lines of credit against principal residences which encourages speculation. When the flip doesn’t materialize, the bank can just foreclose on your investment and take a chunk out of your principal residence. Realtors behave no better by spreading fomo during the hype and panic selling to maintain high volume sales.

@musicbygoldenj

7 ай бұрын

100% Negative amortization = housing collapse

@klnrklnr4433

7 ай бұрын

no they are not. Its YOUR problem if you can't control yourself or your debt load. Only an idiot would purchase properties they know they can't afford and not do their own due diligence.

@NewYork0110J

7 ай бұрын

Nope environment was created in which you dont react you will get burnt as well. Realtors do play dirty role for sale and push people to take on more debt

@user-zp7jp1vk2i

6 ай бұрын

Exactly, the Big Five and Bank of Canada CAUSED the early eighties recession/depression and I'd LOVE to see an analysis pre-tech on the young job creators they WIPED OUT, leaving the old money to come in and scoop up the pieces. Along with the divorces and suicides and life changing events!

@dmalka336

6 ай бұрын

Banks are complicit but ultimately these people made a very poor decision and it's their responsibility. I'm very sorry for all involved and wish everyone well.

It's upsetting when selfishness comes back to bite you. Not upsetting to me, but upsetting to those it bites. They maxed themselves out without any thought to the future, and now they're drowning. Wait until it happens to the whole country because of eight years of irresponsible Liberal/NDP spending...

@maximusfuscus

7 ай бұрын

They will keep doing the same old and get voted in power.

@stevesmodelbuilds5473

7 ай бұрын

@@maximusfuscus Because they think of no one but themselves.

@ryanarch9934

7 ай бұрын

There greed will be there downfall. No sympathy from me. A home is to live in not gamble on. In fact there greed caused the suffering and misfortune of Canadians who wanted a decent home for there family. Corrupt realtors, irresponsible lending and greed driven investors.

@robm9581

7 ай бұрын

govt g😅ot nothing to do with this; these people thought they could have this life style on a mediocer salary; these guys are well off but they are not mega rich; over extending all they had to keep up with the Jones

@maximusfuscus

7 ай бұрын

@@robm9581 - Too low interest rates for too long? Printing money? BoC is officialy independent but let’s be real, the pressure from de Feds can’t be ignored.

Good real estate speculators are particularly odious

Cottages represent just another facet beyond the standard Real Estate "investor" class.... and another proverbial "Canary in the Coal Mine" for the GTA Real Estate market as evidenced by the vast majority of Cottage owners(from the GTA primarily) now trying to Sell who were utilizing HELOCS secured against their primary GTA residences..... and are now reeling under higher interest rates/budgetary shortfalls. Going to get uglier and uglier in 2024.

@NewYork0110J

7 ай бұрын

Yeah i know lot of people who took too long for the market to correct which it never till late 2022. People are paying over 50K in interest in past two years amid it is significantly big number.

The lower priced average cottages have a really hard time selling and people are taking a loss on them. ~“BUT” the very high priced cottages in the millions of dollars are selling easily and the market is strongly robust for them because wealthy rich people just pay cash, do not have to borrow any money, and they do not have to worry about interest on loans.

Housing prices were grossly inflated. Now people who bought high are having to sell low. Rents and leases continue to skyrocket nonetheless.

The only cause for a business bankruptcy is poor management. The only cause for a personal bankruptcy is also poor management. Going skinny into any deal is a stupid and avoidable risk. Just ask any business person that experienced failure because of taking on an uncalculable risk for just a little gain.

@JEdwarrd

6 ай бұрын

The fact that u gloss over the psycho-social dysfunction in your words is extremely telling of how u see the world. U are clearly immune to reality.

@toddlavigne6441

4 ай бұрын

Prices simply don't keep going up in any market, there are always corrections and sometimes they can be severe. The risk of rates going up from near 0% were almost a guarantee. Thinking they would stay low is just naive.

Hold on a moment. I was told that Toronto was the greatest city in Canada. Why did these people feel the need to pay one million dollars to flee the place when the going got tough? What happened? lol

@Louisthefur

7 ай бұрын

If liberals didn’t have double standards they’d have no standards at all

@tanyaldutton

7 ай бұрын

Yikes who told you that?

@AmanSS890

7 ай бұрын

I would never buy a house in Toronto or Vancouver the houses are why to overpriced not worth it. Know with interest rates so high how are people even affording the house payments is beyond me. People were rushing to buy homes during the pandemic know people can’t afford the payments because of the high interest rates. Never do what the crowd is doing when it comes to investing allways do the opposite

@schmingusss

7 ай бұрын

It WAS, up until Great Leader Justin decided open borders was a great idea and also to let in hundreds of thousands of new immigrants per year. No time for assimilation means we have changed the demographics overnight and turned our great cities into 3rd world sh!tholes. It's no wonder people seek respite and look to cottage country.

*earth shattering kaboom!*

Interesting times... Wife and I live modestly in our GTA home with 15 years left of 'easy' payments... Do we now extend to buy property? I'm not interested in built cottages, but I am in vacant land. I'm not opposed to cottage towns either as I realize I'll be "old" when I leave the GTA for retirement.

@benp5424

7 ай бұрын

Why did you put old in quotes

Are we supposed to feel bad for rich people with more than one domicile?

My idea of a cottage is just that...5 or 600 square foot, where the screen door slams, and should be paid with cash. Borrowing on a weekend place just seems opposite of a relaxing getaway. I dunno....maybe i'm a product of the dirty thirties.

Back to picnics in the park.

If you could choose one section of the housing market to be hit that would have the least affect on people. This would be it!

Wow beautiful cottages

'On [Leaden] Pond'. This smacks of Depression era margin buys, and unfortunately the sellers will reset all prices at the margin as well - once they *can.*

LOL WINTER IS COMING! We knew y'all were crazy and I remember laughing when I heard all of this was going on. It is very difficult to live up north... no one has pity for the rich, especially those who contributed to madness of the pandemic and profited of the backs of others.

Leveraging a cottage purchase is just plain stupid in a market like that. No tears here for anyone who was short sighted enough to make such a horrible financial decision.

Its unfortunately what needs to happen in Canada. the prices are too far gone and they have to come down.

@jelau4851

6 ай бұрын

There is someone responsible for this, and we know who it is.

@micheleemcdaniel389

6 ай бұрын

Can't believe the price of condos and on top of it monthly fees!

People are asking 100,000 or more than the municipality assessment value still today, Why? The realtors are telling sellers just wait the market will take off again or something.

lol on a line of credit? all the best. lmao

what's really funny is 40 years ago you could get a hundred acres with a lake for 10/20 thousand

Really? Neighbours home was sold in 3 days. Easy. I see things go very fast and high prices.

"I'll buy *THAT* ...for a dollar!"

Interest rates were low for so many y years that’s the. Only reason most people were even able to buy a house even with not so good jobs. My friend bought a house during the pandemic know with rates so high dont know how they are even affording the payments considering what they do for a living . One person works at a gas station the other works at a meat packing plant. Even with high mortgage rates people think they will Just sell the house in a few years and make there money back out normally when people Do end up selling they all Ways buy a bigger house that ends up costing more . Homes were really made for the banks . If you really want to make money there are better ways to do it then buying a house. Live on rent and buy a business at the end of the day at least the business will make you money and when you have a business you get tax right off the rich play the money game differently from the rest. If you are going to buy a house buy a apartment rentals that have at least 8 units and live in one of the units for free the tenants pay of your mortgage that’s smart . One of my friends did

@toddlavigne6441

4 ай бұрын

Multi units are the best, tenants pay the mortgage and you aren't relying on one tneant.

Oof! That's a punch in the gut for some people. It must be so stressful. I feel for them.

I will buy when prices fall 50%

Canadian banks in big trouble get your money out.

Buying a second home on a credit line?! If you need a financial advisor to tell you that a second home purchased with debt is a bad idea, then you are the architect of your financial destruction. Caveat emptor.

There so much "kash" around in the Columbia Valley in BC most "cottages" and third/fourth homes are selling for "kash". That group is not affected by interest rates.

Luxury market is north of 3m ? So what is 0.5-3m ?

Looks like panic if finally starting to set in. If you're trying to unload a cottage now - right before winter lol - it better be at a steep discount lol. Only going to get worse when the spring market roles around.

Don’t worry about these people. If they were able to invest in a cottage in Muskoka, they should have been rich… The cottage in Muskoka is not a regular people’s thing… Why to worry about?

You buy on the line of credit then convert it to a mortgage with fixed interest rate. Once the rates started increasing, that was a sign to lock into fixed. Amateurs

@JayandSarah

6 ай бұрын

Not all of those homes CAN be mortgages. You need to obtain things like fire insurance if you want a traditional mortgage. Not available? No mortgage permitted. Only LOC.

Sounds like the worst case Ontario !!

Hard to feel bad for these buyers. Who would have thought rates near 0% would be inflationary and rates would have to rise.

Listings are down broadly because people cannot qualify for a new mortgage when they move. A picture of what is to come for the rest of the market when listings start to rise when folks are forced to list in the coming years.

@chriswhynder8311

7 ай бұрын

yea but wouldn't that bring more buyers that can afford to buy once more houses are available?

@jacobgoerz1953

7 ай бұрын

@@chriswhynder8311 That is the million dollar question. There is a large number of folks priced out. However lets say prices start do drop, buyers are now forced to catch a falling knife. Do you bite the moment the home is affordable? Or maybe you pay yourself to wait a little longer. With rents exploding, folks might jump the moment they can so then it is really a simple supply/demand tug of war. A good bit of mortgages renew in the next two years, so the question remains are there enough sideline buyers to absorb the supply that will come?

Fools and their money are soon parted. Borrowing ANY money shows a lack of creativity. No buts allowed. From a guy in his seventies on his own since the age of 10.

Sounds like Bancroft, everyone is asking a million dollars. Real estate agents are partially to blame.

Cottages! All those pics look like homes to me lol

looks good on them

Can you buy a line of credit??

@yvonjasser

7 ай бұрын

You can buy what ever you want on a line of credit

@rubyoro0

7 ай бұрын

You are not supposed to buy real estate on a line of credit. At least not in the USA. But, I agree you can buy whatever floats your cottage--errrrrrr I mean boat….

too bad this guy missed on calling out the greatest pun ever when he said a lot of them are under water.

Looking forward to the drop. Prices are still dropping a lot. Love it.

to improve sales you put interest rates up

Would that the Anchor's voice was as easy on the ear as she is on the eye.

Gee... who could have seen this coming? 🙄

Isn’t greed a comical factor !