If you’re in this situation and want to discuss the options of refinance, downsizing or selling let’s chat 👉 www.chamberlaingroup.ca/contact/

Everyone ask your MP for your interest-bearing central bank digital currency

All i have to say is Calgary has No appreciation factor in home. So was always too risky even in good times.

@danca5719

4 ай бұрын

What factors that Toronto and Vancouver have, can you specify?

@Relaxlifeisshort2

4 ай бұрын

Are you kidding me. Do you not see the history of real-estate in Calgary. They can sprawl out so density is not an issue there they can build single family homes and create more. And you are actually having to ask that question. If you have to ask about Toronto and Vancouver. You dint know realestate.

@stephenn88

4 ай бұрын

@@Relaxlifeisshort2they cannot keep up with the demands. They cannot build fast enough to house ppl from ON/BC

@stephenn88

4 ай бұрын

@@Relaxlifeisshort2you don’t look backwards you look forward

@Relaxlifeisshort2

4 ай бұрын

@@stephenn88 OMG lol ok sure Good luck. So now you look forward on things that help you. But unfortunately in this case it wont You will not see alot of appreciation in Calgary. The only reason you have seen it now is because it was surpressed for 10 years with very little appreciation. You will see some but not to the extent you hope for and especially if and when they build more and have more sprawl. Where in Calgary they can. Good luck 🍀

Terrific video!! I feel for people in this situation. Great comprehensive info!! Cheers!

@ChamberlainGroup

4 ай бұрын

Glad it was helpful.

Would be nice if the government will enact a law for homeowners to locked in a mortgage for 15-20 years, instead of us renewing every 5 years, Bank of Canada and the big banks are so greedy and taking advantage of this 5 years renewal.

@ChamberlainGroup

4 ай бұрын

I’m assuming you’re comparing the US to Canada. They are very different systems. You have the options to lock in for up to 10 years, but the penalties to break are huge. Most people on average in Canada move every 3-4 years so having something longer really doesn’t make sense. But… fees and penalties are a pain when making changes and have to be thought of when you are making the move.

@robdavidson2569

4 ай бұрын

would be better to have a system which lets home owners write off the interest on their taxes

@jpcarvalho9342

4 ай бұрын

@@robdavidson2569May I remind you…it is the borrower that requires aid from the lender (I.e. big banks)…the banks have a right to charge interest…borrowers can choose bi-weekly payments and are able to make additional payments towards the principle which all help to cut down amortization and pay down your mortgage quicker… more towards principle than interest.

@gcc8584

3 ай бұрын

That would be the case if you got hit with capital gains on your primary residence.

@lynb1022

3 ай бұрын

@@ChamberlainGroupin what alternate universe do "Most people on average in Canada move every 3-4 years"?! No they don't. Those who do are people caught up in the Ponzi. Most of us just want housing security and would be happy to stay put for 25+ years.

Don't take out equity for buying big boats and lifted big trucks,and you might be just fine 😂

@ChamberlainGroup

4 ай бұрын

Exactly!!!

@benny871

4 ай бұрын

But then we only live once…

@ivobiancucci4528

4 ай бұрын

I live and look poor but I have funds in the bank drive an 05 Ford Escape with over 300,000 kms

@gcc8584

3 ай бұрын

@ivobiancucci4528 No one cares.

So the lesson to learn here is to not take out equity in your mortgage.

@ChamberlainGroup

4 ай бұрын

You can… but have a plan for repayment. Thinking it’s just an ATM for you to spend more is where the real problems can come in.

@yadwinderberi8199

4 ай бұрын

Why did they refinance then Why not HELOC

upping equity is not real profit until the property successfully sold and transferred 😂 like many flippers made 200 - 300 % in the past but now real estate in canada is worse than baltimore bridge condition 😂😂😂

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People are stubborn! I don’t think I will purchase anything in Canada. The numbers don’t make sense at the moment. I would rather buy overseas.

@ChamberlainGroup

3 ай бұрын

Are you living overseas? That’s a dream for many!

That "equity" is just price appreciation not actual debt reduction which is what actually gets you ahead. The 5 years of payments just went poof after borrowing against the house.

Who do you suggest I speak with properties in Ft. McMurray? I have tried local agents and have gotten strange information. Are you able to make a video on what's going on with properties in fort Mac?

Get creative and don’t be rigid in your thinking and throw your pride out the window. Take in roommates, rent storage space. Rent your garage. Do whatever you need to to keep a roof over your head. You have overextended yourself. You are not a famous rapper or a kardashian - granite countertops and nice cars are for the rich. If you were rich, you wouldn’t be losing your house.

What is a huge problem is the carbon tax which will go up every year which in turn causes everything to go up in price, in the end nobody will be able to sustain that tax, basically that tax is truly a killer tax. It needs to be wiped out. Things will continue to get worse. This tax is eating away cash even if you own your home and have no debt. If you have debt yes it will be worse but eventually it eats away at even people who have no debt, just monthly debt which is money we spend for living, utilities being highest in the expense department, insurance you carry auto, life,home those are also rising. Fuel to get back and forth to work. Debt is an issue but what is happening is the cost of living rising every year because of the carbon tax.

The problem is we need to stop beleiving the banks. The 2 or 3 or 4 or 5 % is not real its 30 40 50% more. If you fallow a 25 years biweekly mortgage at 3% at 300k i bet it cost you 450k at the end of your therm. How can you call this 3% we are idiots

Taxes are criminal extortion

They are not able to afford bcoz incomes are mortgage payments don’t math up. It’s a bubble.

That's insane! Home and food - basic humans needs... It has to be normal to afford these, if not - something is wrong with system

Carbon tax increase will help everyone pay their mortgages more better on April 1. Relief is coming 👍

That would be ‘they’re trying to sort out…’, not the possessive ‘their’.

Some people can not afford the damn property taxes, bullshit fees, for municipality politicians

Don't buy an ev you will save so much money

Don't take multiple vacations trips to cancun, Mexico each year,

The moral of the story is stop using your house as a piggy bank for financing other things, unless you have no intention of actually out-right owning your home some day. But remember you might be forced to sell as a result of poor financial decisions. The smallest of changes in a persons life might lead to them having to give up homeownership or downsize to something else. Debt is the downfall of so many people.

I did not delete anything . I guess i hit nerve. I am not an agent. Just a long long time real-estate are invester. But not going to waste my time. With sensitive kids. Good luck and keep warm.

This is why I haven't and won't buy until 2026. This is called the mortgage cliff renewal which will probably hit 50% + of mortgages that will renew this year and next and people WILL have to sell and move unless there is fraud. Looking at inflation, increase in city taxes across Canada, this is not a Calgary issue but will be worse in Vancouver and Toronto where people over extended themselves. This is just the start.

@MentionBiscuit

4 ай бұрын

Ponzi scheme 😅 everyone fucked around and is about to find out 😂😂😂

@mt8474

3 ай бұрын

Plus the potential job losses, unless Government continues its decade long hiring binge, and when EI runs out we could see compounded troubles ahead.

I'm likely to get forced off also. I've known it for almost 1 year now. I cant maintain both of my properties with how interest rates have moved despite showing and demonstrating a payment every single month and also additional on both mortgages.

@ChamberlainGroup

3 ай бұрын

If you need help or want to discuss options let us know www.chamberlaingroup.ca/contact/

Not having 30yr fixed rate mortgages is a crime.

@ChamberlainGroup

4 ай бұрын

What do you mean by this? There are fixed mortgages you can get.

@jpii8468

4 ай бұрын

@@ChamberlainGroupI just edited my comment to be more specific.

@mstt3530

3 ай бұрын

@@ChamberlainGroupI thought it wasn’t common to have a 30 year mortgage in Canada. I thought it was only 5 year mortgages. Am I wrong?

@ChamberlainGroup

3 ай бұрын

@@mstt3530 it’s very uncommon… as it’s not a thing!

Bravo 👏

@ChamberlainGroup

4 ай бұрын

Thanks for watching!!

Do you have a link to that mortgage affordability calculator website you were looking at around 4:00?

@ChamberlainGroup

4 ай бұрын

Appreciate the comment. That’s a tool we use on our team and don’t have a public version of it unfortunately.

@Canadian-Boi-

4 ай бұрын

@@ChamberlainGroup no worries thanks!

@lynb1022

3 ай бұрын

Financial Consumer Agency of Canada website has a mortgage calculator. Just search it.

Boomer not willing to rent out a room to save her house. Erks the pee out of me cause I have had to do this for going on 13 years to hold on to my house and to paper their retirement with inflated asset values.

@ChamberlainGroup

4 ай бұрын

She was able to make a choice and decided to find a smaller place. Not everyone would be willing to rent out a room just to keep that house. There are plenty of options to choose from in each scenario.

@njcanuck

3 ай бұрын

There is a safety and privacy aspect to that decision, especially as a single woman. And I can tell you that many of the appliants are pretty weird and/or dodgy.

@MustyBastard

3 ай бұрын

@@njcanuck Yes they are. I've had knives pulled on me. Stolen from. Had the swat team called to my house. Come home to naked dudes in my bed passed out drunk. Its a temporary sacrifice and delayed gratification like the boomers preech. It is not forever. She can Rent to other females. I only Rent to men. Men are usally more problematic