2024 real estate outlook predicts return to peak Canadian home prices: Royal LePage report

Sorry not buying it.
Unless interest rates come down drastically this market isn’t going anywhere

like listening to a used car salesman

hmmm, real estate firm pumping their own tires.
what to believe, what to believe.

Okay, people can't afford homes right now that's the only reason for a slow down. Most people who already bought while rates were cheap haven't felt the pressure of these rate hikes until at least 2025-2026.
The Canadian real estate agency are a bunch of crooks that collude with each other to make the price of homes rise. This is how they line their pockets.
Most immigrants moving here aren't rich, but rather fleeing poor living conditions, such as war or poverty.
The rich wouldn't come here to invest in the worst housing market in the world.

I was looking for an unbiased video by Global News but all I saw was an advert by Royal LePage. Did anyone see the “Skip” button for the ad? 😂

The liberals will not cut immigration into Canada. Just in the 3rd quarter a record 430,000 new immigrants into Canada. We will see the numbers for the 4th Quarter soon. The liberal "plan" is for another 500,000 new immigrants in 2024. Bet you that number will be higher. To put it into perspective 430,000 is more than the population of Halifax, NS or London, ON. I don't see Canada building any new cities.
The liberals say they will enact a "wartime housing plan". The last liberal initiative to build affordable housing in Canada did not go well. They had an objective of building 164 new affordable homes. Actual results 12 homes built in 8 years. All were built in Sherbrooke, Quebec. So I would not expect the new liberal plan to build housing to actually happen. Governments don't build homes, condos, or apartment buildings. Developers and construction trades build homes. Housing starts are down 22% in Canada. Those developers are not all that confident in building new homes right now. Plus the bureaucracy in getting anything built in Canada is onerous. Eco groups and special interest groups will oppose new housing developments in many areas. Some municipalities are not all that interested in new housing developments. They would have to install a lot of new costly infrastructure and city planners would actually have to work hard. I can see more apartment buildings being built in Canada as there is huge demand and some tax incentives.
Interest rates will come down in 2024. So what happens to house prices when mortgage rates drop? They will rise. So now is a good time to buy if you have the money as housing prices have dropped a bit. Go with a variable rate mortgage and lock into the longest term you can get as rates continue to drop into 2025.

Probably in the GTA and other huge markets we will see a return to peak once rates start to go down. But in so many smaller communties housing is still way to over inflated and I think still had a way to go to bottom out, 10-25% at least.

Prices will go to the moon, but what they refuse to tell you is that there will be an economic collapse of the housing market immediately after that all time high and it will happen when we least expect it this year.

class action lawsuit against real estate commission won in USA by plaintiffs another one is on going in GTA many countries eg UK agents get 1 -2%

why i will ask a business realtor compagny to give me prédictions on housing market prices, it does'nt make any sense. it biased information. thes e compagnis like RL, Remax make their living from seeling houses , so how is it possible to provide a impartial analysis for trends on prices!!

How about you actually report on all the cost of a home that goes to each layer of government as fees and taxes for the building of a new home, and how difficult the regional government actually makes it to build a home for a small person instead of these large corporations that seem to dominate entire neighborhoods that are being built by buying all the lots and dictating the costs?

This is called as paid ad 😂😂😂

Another clueless forecaster....lol

DO NOT BUY IN 2024 AS THE HOUSING MARKET IS GOING TO CRASH................WAIT UNTIL 2025

Nice so many millionaires on paper

This is why interest based transactions are forbidden in Islam because Islam gives the real economic model that uplift people, study Islamic tax system.

No rip offs

They're giving false hopes, us economy decides what's is going to happen, today 25% businesses filing chapter 11 bankruptcies

You gotta be proud of the government... Is skilled workers coming in.... Is lots and lots of crime that's what the government wants

While the prediction will be the truth more crime and more crime. You gotta be appreciative what the government has done

Mainsream media is not worth watching.

As brought to you by Royal Lepage.

I'm praying for a spring election in 2024 in canada. The left-wing is way too fiscally dangerous for Canada. I hope Canadians never vote in another left wing goverment again

I don't want to pay 1 mil for a 300sqft condo. I want to pay 4 mil instead. -Average Canadian

900,000 Canadian Mortgages renewing beginning 2024 thru 2026 at FAR HIGHER Rates/Payments regardless of any now obviously inadequate BoC rate relaxation potential occurring......
450,000 of which are now STILL increasing their Mortgage Loan Blalances Negatively Amortizing into those renewals....
and here we have PHIL SOPER preaching to the FINANCIALLY ILLITERATE that there will be a resugence in GTA Real Estate ?????????????????????????????????

They need to not give this guy a platform.

This message brought to you by Royal Lepage. A simple math equation can tell you everything you need to know about real estate market

As long as the wealthy are ok, the rest can suffer?

According to Real Estate agents... let's look at the macro levels- we are building a lot in Vancouver, Toronto and Calgary, there is a decrease in new applications in PR and students, we have higher unemployment rates, we still have high interest rates. 25 bp changes very little we won't see 100 bp point drop from today for at elast another 2 years. The US Fed will drop because it's an election year then they will increase again in 2025.

let the realters lose their jobs

If this is true... what questions will have to be asked to the government, who is promising a massive effort to return us to affordability. This would be moving in the wrong directions.

Manipulated, Manipulators, Manipulation

It’s a lie…..don’t buy……

They call themselves experts .... Warren Buffet said no one can predict the market

This is a huge red flag. Realtors are desperately trying to sell what they can before next year and you are not ready for 2024. Word of advice: buy only what is essential, don't invest in nothing, if you have debt pay it of as much as you can, if you have parents make a plan B to go live with them just in case. I really hope I am wrong but I feel like very hard times are coming.

fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.

Jokers RLP stock down 35% talk abt declines, thats why they are propping prices

This is how people are given misinformed.. it shud b coded as a crime in th criminal code of Canada..

I want interests to go up further.

Asking people who make money by real estate transactions to predict the market is a joke of journalism.

Back to the peak... Stupid people will buy again... BOC will raise interest rate again... Then they will cry

As I have said numerous times, the Canadian government will never allow the cost of housing to decrease.. Why? Because politicians own many expensive houses and the won’t allow their investments to decrease in value..

Canada is doomed! Find a way to escape asap!

If rates are cut, house prices will rise. The demand is still here. Many like me are trying to get into the market. I'm hoping to do so before the rate cuts. I'd rather a lower principal and higher rate (then refinance) than a higher principal and lower rate. You're stuck with that principal for a long time.

The 1.2m home being taken off market for not selling, isn’t worth 1.2m, it’s worthless!

Petition to the House of Commons e-4701 has set record as most signed in Canadian history. Sign it today!

Good - that’ll be Trudeau’s and Singh’s downfall.

Why would Bank of Canada lower their rate if all hell breaks loose again? Royal LePage is off their nut if they think the Bank of Canada will ever give away free money again so investers can run off like bandits.

So unrealistic prices gotta come down not sure where the disconnect is they must just want people to truly be broke trying to never buy a home so crazy when you make 40,000 a year how do they expect people to buy a house what a payment for 35 years ridiculous I hope they do raise and the intrest rates go up more it will look good on you

Ya that’s not happening. Prices will fall drastically. Rates will go up more and the economy will hit the bottom deeper then it ever has before. Nothing but a hopium add to give people false hope!

It is going to crash , dont fuel it. Who do you believe,?

Have you ever heard a real estate company say anything that is negative about the housing market…never. They always put a positive spin on it. Interest rate norm is around 3.5%. People can’t afford the overinflated house price.