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39 COMMENTS

  1. Im so excited, Ive been pounding the table since 2019 and sold all RE into 2021 except one duplex which I paid off to hedge position (essentially it can go to zero$ and still pay). Gonna buy so many cheap houses, give it another 12 months! Patience young pada one!

  2. Don't mistake Canadians being goofy for not having their house in order, because not only is the queen's royal house of Canadia in order… Canada doesn't actually have any real problems aside from all the ice everywhere.
    – My thinking as an American, said with love from 'the states' as our goofy Canadian friends say

  3. “How do you explain to an innocent citizen of the free world the importance of a credit default swap on a double-A tranche of a subprime-backed collateralized debt obligation?”
    ― Michael Lewis, The Big Short: Inside the Doomsday Machine

  4. As of 2021, Mortgage Investment Entities (MIEs) such as Romspen, only held a 1.61% market share for all outstanding mortgages in Canada. If only 40% of that (within Romspen, mind you) isn’t paying back their mortgage, that means that an irrelevant amount of people aren’t paying them back. Unfortunately, this is not the doomsday housing market crash scenario I was looking for as a Gen Zer. There’s nothing going on here.

  5. There is a flaw to the whole premise of this and it starts with your initial assumption: people can't afford a mortgage rate that is higher than what they were stress tested for. This is not necessarily true. Some of us are living below our means and our wages have gone up since we were qualified.

  6. I enjoyed the video, but am not entirely sure about one of your final comments that folks who have mortgages come up for renewal might not qualify due to the higher stress test rate. Typically you don’t have to re-qualify at renewal, though I’m not sure if this rule is changing, or is lender-dependent.

  7. As a layman person I don't understand where all the credit money is coming from. I know video is about private lenders. I am talking about excessive financing provided by banks, car makers etc. Canada has the highest household debt in G7 countries and our spending habits have caused prices to go further up. For how long system will be able to sustain this.

  8. People that already have mortgages in Canada do not have to re-qualify when they come up for renewal. The idea of qualifying at a higher rate was for new mortgages when people are buying a house.

  9. I’ve been advising friends that want to get into the housing market, or wanting to buy an investment property, to wait. My home has doubled in appraised value in 13 years, I expect it to lose 25% of that in the next 3 years. Hopefully, the market will stabilize quickly, and not become a free fall for the next five years.

  10. Perhaps, just perhaps people should have thought about drowning in debt as much as they were. Perhaps, just perhaps maintaining multiple loans on luxury cars, homes, vacations and a leading lifestyle your income could not really support, wasn't a grand idea. I will be honest, being mortgage free is good.

  11. Related to topic: check out the actual USA student loan situation. Easy to search to learn that the vast majority of student loans are "in forbearance" meaning no payment is being made.
    So when they talk about 'forgiving' student loans, 90% do not pay over $1 trillion in student debt. Hardly anyone actually pays their student loans.

  12. Refreshing video. Not focused on doom and gloom . Though on an alternative perspective.

    Short term loans are a good focus and concern here. The real interest rates are not what we think. Nor what they were presented in 2016 when we had a stress test. Wow. Many people knew that the stress test was a dire warning to home owners….. yet how many people paid attention to this warning?

    Rates will go up. Likely 2% or more. Who was prepared for this? We will find out.
    Price of homes are still up….. Will they come down to an affordable one? Will the housing market find equilibrium? (Aka lower prices. Say 850k not 1.4 mill?

    Look fwd to your next video

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