Comments on: More Canadians See Real Estate Prices Falling As Market Psychology Shifts: BMO

By: Bird

Bird — Thu, 11 Aug 2022 13:16:51 +0000

In reply to Chantel. Insane amount of interest? Historically speaking, the insanity was near-zero interest rates. What we are seeing now, and what is to come, is only a normalization of things. The true profiteers of the housing bubble/inflation were not moms & pops but 1. very wealthy owners of multiple properties and 2. senseless speculators overleveraging themselves to profit from the low interest rates & rising prices. The latter have caused this mess and will now suffer most from the fallout, as leverage is a boon going up but a bitch going down. & your argument for why higher interest sucks (lower principal but higher interest means the same payment for the homeowner) applies just as much to the banker. The size of their loans matters in the $ they make. But the counterparty risk they take on right now is huge and I am sure many banks would be scared... If only the Canadian govt did not provide it's stupid mortgage insurance.

By: Darren Stone

Darren Stone — Thu, 11 Aug 2022 12:36:29 +0000

On a 10 year downtrend so a long as you bought long term don’t worry.

By: Terrance Yu

Terrance Yu — Wed, 10 Aug 2022 17:43:30 +0000

In reply to Robert in Vancouver. Because then you could buy a detached home on the West Side after it fell over 20% in 2017?

By: JCH

JCH — Tue, 09 Aug 2022 06:29:04 +0000

Ugh, not going to get my hopes up – endlessly creative BoC and politicians will find yet another way to turn this around and again put off the much-needed and long-overdue Canadian housing crash and deleveraging. By the time it finally comes, (not this year!), it’ll destroy our economy for a generation.

By: Chantel

Chantel — Mon, 08 Aug 2022 01:24:15 +0000

The only ones benefiting from this “correction” is the banks and the government. The government does not care about its people and this is proof. Housing was already ridiculous, so instead of paying for or selling your house at a higher amount, you now pay lower but pay an insane amount of interest for the same house…which just keeps the unsustainable rent/mortgage rates. Wonder who wanted this? The greedy ass banks and government.

By: Robert in Vancouver

Robert in Vancouver — Sat, 06 Aug 2022 02:00:20 +0000

I wish I had a dollar for every time I heard over the past 50 years that single family house prices in the lower mainland are going to drop 20% or more.

By: Mario D'Uva

Mario D'Uva — Fri, 05 Aug 2022 15:22:15 +0000

Niagara, Brantford and Kitchener-Waterloo prices are in free fall.

By: Dan

Dan — Fri, 05 Aug 2022 11:52:26 +0000

exciting times, lets see how low can they go, i wouldn’t pay more than 200k for a 4 bedroom detached house.

By: JR

JR — Fri, 05 Aug 2022 11:51:48 +0000

As a HUDAC, ONHWP, Tarion builder since 1986, I can attest that this is the real deal. The crash of 1990 will pale in comparison to this generational shift in residential housing now upon us.
The future holds an unpleasant deleveraging for those unfortunate enough to have overextended into this maelstrom of excess.