We read news in the media that doom and gloom is coming and we just accept it, doom and gloom doesn’t always have to be coming, I’ve read numerous success stories of people that are pulling off tremendous gains of up to $250K within weeks in this crazy market and I just want to learn how to achieve such figures.

@valeriepierre9778

Жыл бұрын

Since the crash, I've been in the red. I’m playing the long term game, so I'm not too worried but Jim Cramer mentioned there are still a lot of great opportunities, though stocks has been down a lot. I also heard news of a guy that made $250k from about $110k since the crash and I would really look to know how to go about this.

@edelineguillet2121

Жыл бұрын

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Жыл бұрын

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@edelineguillet2121

Жыл бұрын

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@yolanderiche7476

Жыл бұрын

@@edelineguillet2121 Just checked him out You can easily look him up. he has years of financial market experience and he is also FINRA & SEC verifiable. thanks

Real estate agency says theres FOMO. That is hilarious. How is it FOMO buying something that is appraised $100,000+ less than you buy it for? Lol Right now is probably the WORST time in Canadian history to buy.

@ron.mexico.

Жыл бұрын

Sad but I’ve been hearing about this for over 10yrs.

@handzus19

Жыл бұрын

This. Additionally, who the effff wants to live in Canada? LOL.

@thevintagekitty

Жыл бұрын

Makes sense what you are saying, unfortunately, I can personally say I know 2 people who just panic-bought because they are so afraid they will never get in the market and are terrified the prices will just keep going up. Exactly what he said, both these couples lost out on 5-6 houses, so they were aggressive with the houses they actually bought. Foolish? Completely agree with you on this one, but it is happening...

@baseline6786

Жыл бұрын

A home worth 1M today. In 8 yrs will be 1.6M You need a place to live. Why spend 230k on rent

@estycki

Жыл бұрын

I’ve witnessed this too and it’s infuriating - especially when the house was just listed and had zero other offers, they’re convinced of FOMO to not negotiate on price. People can’t think for themselves. This was in small town, not even near a major city.

In the U.S., we have fixed mortgages for the entire term of the loan, so they don't reset.

@jmela1370

Жыл бұрын

Housing is much more stable in the US and Americans and American banks learned their lessons from Teaser/variable rate mortgages in 07:08 and from giving mortgages to anyone. Canada has a lot of mortgage fraud giving mortgages to anyine that applies with fake documentation where banks don’t check properly. About 24% of all Canadian mortgages are variable rate at 1% a year ago but now paying 5.5% and Canadians telling banks they can’t pay $200 more a month in interest never mind 2-3 k more a month so interest accumulated on principle. American banks saw the same in 06/07 and most ignored it so top bank CEOs/executives could collect their bonuses and keep bank stocks Also Canadian sellers aren’t showing up because Canadian banks aren’t forcing them to sell yet Also even Canadians with 5 year fixed rates it’s still not as safe as a 25 year fixed mortgage like most Americans have now so there’s no fear or need to refinance in the US The US Fed can comfortable raise rates to fight inflation as long as the bank deposit problem doesn’t get too out of control. But Canadian banks will eventually deal with a 08 crises so I’d be cautious investing in big Canadian banks since they’ll be vulnerable in the next few years and be hurt a lot more than American banks

@barrypeers8665

Жыл бұрын

thats very good very observant rodney

What’s early versus late stage FOMO look like?

This is why Canadian Banks and the financial system fail. Stop allowing extended amortization. Investors have 300+ years worth of loans. My bank tried to make me have a 66 years amortization. Just STOP!

@shaq9361

Жыл бұрын

Those are the peoples that fail and deserve it 😉

@TheMacroSlacker

Жыл бұрын

OSFI actually has rules against this sort of thing they're not following. I think they just want to avoid taking blame for a crash. Or the banks actually have OSFI in their pocket.

@H-Z_Together

Жыл бұрын

@TheMacroSlacker Since OSFI says 25 years max, then explain this. "The maximum amortization is typically 35 years, but apparently banks don't think that's not enough. A significant share of the above banks' portfolios had at least 35 years left. Over a quarter (27.4%) of TD's Canadian residential portfolio have amortizations of at least 35 years left in Q1.Apr 27, 2023"... WHY?, because banks are breaking the fundamental rules that are supposed to be enforced but are now encouraged to be broken as they continue to support this debt for life mentality.

Spring is the biggest season. Normal it’s a deadcat bounce

Real estate agents are looking for second jobs and leaving the industry. There is no FOMO just people being uneducated and lead by desperate real estate agents who want a bigger cut.

@christophercolumbus8944

Жыл бұрын

not true

The .25 interest rate hike from the Fed this morning will put a damper on this stupidity.

@TheNewSchoolGamer

Жыл бұрын

I don't think it will. We have record levels of immigrating and very little inventory/supply including rentals; new Canadians, temp workers and foreign students need to live somewhere

@akadopeboi

Жыл бұрын

we need the immigrants. Its the people wanting record profits off those immigrants and our young that is the problem. Thats why the younger generation with tech jobs are going to live in Bali or one of those super cool emerging asian markets.

@TheNewSchoolGamer

Жыл бұрын

@@akadopeboi Yes, we do need the immigrants but not having the housing and infrastructure to accommodate them is problematic

@patrykdrozd2637

Жыл бұрын

New immigrants are like: holy f this place is expensive.

@akadopeboi

Жыл бұрын

@Patryk Drozd rofl totally tho.

There is no FOMO. Market gonna crash and burn. Recession is coming. Buying a modest home is alright but luxuries are not necessary.

@tiberianexcalibur

Жыл бұрын

What market crash in Canada!? Canada real estate market hasn’t crashed since the 1980s! The last recession didn’t even dent the real estate market.

@kurdi98k

Жыл бұрын

@@tiberianexcalibur It's coming.

@tiberianexcalibur

Жыл бұрын

@@kurdi98k how would it come if foreigners park their money on these empty properties? I been in one of these where the owner is so rich, they shipped wooden pillars all the way from China.

@kurdi98k

Жыл бұрын

@@tiberianexcalibur Recession.

Let’s be clear here.. the banks are not bending the rules for any altruistic reasons. They are keenly aware that without some intervention they will see large foreclosures as clients default or even partly default. They’d rather keep the cash flowing than incur costs to do a foreclosure. It’s really in their best interest to keep the party going. The whole real estate industry needs an overhaul starting with realtors and the commission system. Hugely overpaid salespeople. When you ask about real estate investors you must be aware that agents are front and Centre in investing in real estate. They snap up homes before they hit the market and many older realtors are landlords.

@thevintagekitty

Жыл бұрын

100%

There are lots of emotional buyers buying the properties because they don’t want to miss out in owning a house. These same people will cry in a year or two once the market crash. Affordability is the biggest concerned for Canadians. Not just the housing, everything has gone up. People are In lot more debt compared to the year before. No matter what the demand is… people won’t be able to sustain with this kind of pricing. Young couple with 2 kids with $800,000 mortgage, their monthly expenses will be over $12,000. Good luck

When I read these comments, a lot of people that have skin in the game are in denial. It’s actually insane.

Can't speak for the rest of Canada but Vancouver's dip was apparently in January. It's not technically "FOMO" if it's already too late to miss out.

Build more reasonable sized homes. Too many huge McMansions on tiny lots with no room to park growing vehicles.

what could possibly go wrong

Negative amortization? I'm sorry, but by that time I think that should be a foreclosure. The investors aren't the only people that need to cut their losses, the banks do as well. They're extending the unaffordability solely because they're too greedy to let the housing market collapse. The excuse is "economic stability" and they're right, the problem is, it's only the economic stability of the banks and the investors, not the majority of working people who can't afford anything. I truly hope BOC Jack's up the interest rates and screws over these greedy overextended people.

@icantwiththis

Жыл бұрын

Exactly.

@robwithrbk

Жыл бұрын

These loans aren't the boogey man of loans (Neg Am, I/O, etc) and existed in the US through the S&L's for many many many decades. LTV's are historically quite low, the loans ultimately pay off as the Neg-AM period is roughly 5yrs (in the US) and...and, principle reduction is not a major driver of equity in your real estate relative to appreciation. I'm not a neg am kind of guy, but I know all about this product as it was around for such a long time in my business (commercial real estate). Interest Only is not the boogey man either. The fact is if you look at anyone's equity position in their real estate, it's from massive appreciation, not minuscule principle pay down.

😂 negative amortization, i wonder who benefits from that.

What is FOMO?

@4040smokey

Жыл бұрын

Fear of missing out

@marciacosta3252

Жыл бұрын

@@4040smokey thank you.

I can see remakes of Jim Carey's movies here" Dumb and Dumber" and "liar, Liar"

@handzus19

Жыл бұрын

LOL.

The government really owns your home. Just don’t pay the property tax and see.

LOL.... what else are these people to do ? If looking at 170,000 Mortgages already in default and on Fixed payment 'accommodations' isn't enough motivation to get into a Home at any cost..... cognizant that there is no chance you can lose as lenders will always 'accommodate' in order to maintain their Portfolio valuations.... then what is better motivation. GO AHEAD.... BUY a mortgage and get behind that 'trigger' being held to the head of the Financial System !

Bring on the greater depression.. lololol hahahaha 2008 is gonna look like a kids show.

Just more kicking the can down the road, what else is new

FOMO = FEAR OF MISSING OUT, are you the one?

Land, you know the story ain't making more

Congratulations on building homes in Canada and the United States and the United Kingdom

Fomo started like 4 months ago. Why is this video saying these are "beginning signs"?

@goodday9505

Жыл бұрын

They just found out😂😂

30 year fixed mortgage in the US is much much better. Canada has no way to compete with that.

@DB-bw5fz

Жыл бұрын

Not 30 year fixed…but Canada has had 10 year fixed rates for quite some time. Just prior to the start of the rate increases, the rates for those were in the ~2.5% range. The uptake on those obviously wasn’t that high, especially since around 1/3 of borrowers opted for some form of a VRM. The 10 year fixed rate in Canada is currently around 6.8%. The 30 year fixed rate in the US is upwards of 7%. Again…people here weren’t taking the 10 year fixed, except for those few that saw the writing on the wall and locked in as rates began rising. The US 30 year fixed looks just as attractive to me as the Canadian 10 year fixed, which is to say it only looks attractive in the rear view mirror after seeing how low of a rate it used to be.

@kurdi98k

Жыл бұрын

@@DB-bw5fz With 30 years you can sleep well at night if you locked in a low rate. 10 years leads to uncertainty and difficulty planning ahead.

@DB-bw5fz

Жыл бұрын

@@kurdi98k I don’t buy that. 10 year fixed rate buys you quite a bit of certainty as well over a 25 year period. In addition, there will be quite enough principle paid off in that time that it would take quite a rate increase to actually result in higher payments. Now how many people do you know that specifically opted for 10 year fixed mortgages for that security? I know of only 1 person that has one, and they locked that in right as the rates were slated to begin increasing in 2022.

@kurdi98k

Жыл бұрын

@@DB-bw5fz Lots of vrm's were taken. Maybe too many.

@DB-bw5fz

Жыл бұрын

@@kurdi98k Now that I agree with 100%. Too many people seemed to rely on the low VRM rates to lower their monthly payments in order to take out more debt. People thought we were crazy to have bought a house that we planned to pay off early, and then actually paying it off early when the rates were that low. Definitely have no regrets about that decision now!

John and Amber would make a cute power couple. They should do lunch.

Anyone who buys a detached home in the gta today. Come 2025 are up 200k

Real estate BS

ahahahaha

Hopefully rates decrease to bring supply back up to help soon.

@sharinglungs3226

Жыл бұрын

It’ll do the opposite of stroking more demand. Rates going up would have brought more supply if the lenders weren’t letting them extend their mortgages and effectively defaulting without actually default.

@H-Z_Together

Жыл бұрын

100000% disagree. Rates should go up and amortizations locked so leeches stop buying properties to become tyrant landlords. Once that happens, bring house prices back down to market value so locals can move out of rental properties.

@jayc4715

Жыл бұрын

Nope

FOMO. Hopefully there is a correction.

@proshare99

Жыл бұрын

Expecting 15-17% correction by feb.24 and see if continuation

@mangoshake9435

Жыл бұрын

​@@proshare99 not happening by any chance

@hottesss

Жыл бұрын

I believe that the big housing crash is yet to come in 2025-2027 Save your money! Just my prediction

@jeremypivot1297

Жыл бұрын

Came and went

Bull shit. Home prices will come down by 40%

@larchdental

Жыл бұрын

Ya, your house will be worth nothing. House is not meme stock. Get real.

@jmela1370

Жыл бұрын

@@KKevinnnn US banks allowed unlimited amortization in late 06 and throughout 07 until the US banking system broke in mid 08. U.S. banks and government covered it up to make things look rosy but only so long it can last for Canada is now where the US is in spring 07, so in another 10-18 months is where Canada will learn a hard lesson and that doesn’t even include the possibility of job losses from a recession hitting Canada or the world on top of it causing Canadians to lose jobs and not pay their bills Rosy times in Canada ahead but things are fine this spring and summer so keep spending as much of our heloc as possible since there’s nothing to worry about!

Yes the rest of the country wants to hear about the TO real estate market. It really rings true in small town Canada.

@nimamassah7249

Жыл бұрын

Sorry but Toronto and Vancouver and Montreal are the only important cities in Canada.

Ontario needs to bring in an empty room tax on greedy childless couples and greedy boomers living in 3 4 5 bedroom + empty basment homes with 1 or 2 occupants...charge them tax per room annually to force them into something MORE GREEN.....like a condo for 2 or a small town home or small bungalow...that would help with inventory

@TheNewSchoolGamer

Жыл бұрын

That is a terrible idea. What next, if you eat more than average you should be forced to share your groceries with random people. I'll remain single and childless with my properties 😉

@jaymar1615

Жыл бұрын

@@TheNewSchoolGamer no live within your means 1 person dosent need 3 5 rooms + basement it's a genius idea....and ery realistic...facts are most current homeowners can't pay the bills way before covid was a thing they are living off HELOCS....that banks don't mark down as mortgage or home debt rather consumer debt....for the books .... pay utilities pay car pay insurance Ay fast food pay everthing...then at the end of the month HELOC payment arrives minimum payment $600 no problem transfer $650 from HELOC to checking account then transfer $600 from checking account to HELOC and wala the HELOC PAID IT SELF OFF.....LIV G WAY ABOVE THEIR MEANS.....instead we are forced to bail them out with 40 hear amortization extentions....so they can keep the party going

@josephsmith594

Жыл бұрын

“Greedy childless couples”? Tax empty rooms? This all sounds very communist.

@chrismavity8869

Жыл бұрын

Taking away anyone's ability and right to purchase, own and live in any home they desire would be a scary path to go down. Stop relying on regulatory bodies to make things easier for you. This is up there as one of the worst takes I've seen!

@MrMannyhw

Жыл бұрын

Just need a tax and ban on people owning multiple properties.

alot of sellers are moving to new homes what is the competion like 😂😂😂😂😂😂😂