Broker on why mortgage troubles in Canada are just starting

We need a new BoC governor who knows what they are doing.

‘You'll forgive me if I don't think about monetary policy' - Justin Trudeau 2021

So 26% of Canadians are moron and live somewhere that mass immigration has no impact on them.

Slavers from 🇮🇳🇨🇳 villagers welcome to 🇨🇦👎👎👎

housing markets dump. Banks buy for pennies 😂 seen this before. Cash on hand and ready

Nick Hill

Not fixed and have to adjust to a higher rate? oh they're f'ed.

Original French meaning of mortgage is death pledge.

2.5 million mortgages renew in the next 23 months..... WOW.

How exciting 😊

Do Canadians know how many immigrants came to Canada last year compared to the norm? And I guess that number might not include refugees.

There needs to be some suffering to smarten society up. Prioritize, and live within your means.
Doesn't help that the government is the worst for spending beyond it's means.

How about you don't buy a house you can barely afford?

Get rid of F. Trudeau ASAP and Big F Indian too.

This would
Make sense and homes would
Have flooded the market at collapsing prices, the wild card is banks are extending terms to 50 plus years so it’s all irrelevant now

The great real estate market collapse is starting. Just imagine prices dropping 500% to 1000%. Then recovery comes and those who never own a home suddenly buys it very dirt cheap.

Over 68% of Canadians don't want any more immigration.......stop that and let things settle, especially with our health care and re-evaluate....why so many coming in?

As long as they have money for ti hortons and mcdonalds then too bad

TAXWHORES cause DESPAIR

In🚊the past 3 bidenyears, the biden^wealthy corporations had been buying all single houses, biden^administration give them tax money to construct warehousesANDapartments’ buildings, the FED policy “Interest rate cuts 2024” is to keep home prices permanently high for Biden^billionaires friends to double their free money in the high price home sale and high price rent. The only problem is that normal worker earning less than 60dollars an hour cannot effort to buy a home. Worker’s hourly rate should be $60🤔or higher

Canada property price is in huge bubble

i dont care. we are in weimar germany 2.0 and will hit great depression numbers on this current trajectory.
blame boomers

House hold income of nearly 200K and we rent. House market can't be trusted and indont feel like paying over 3000$ a month for a wartime home. No thank you

Remember, you will not own anything and be happy - while you freeze and eat bugs.

American here, looks like you guys are going into recession

and of course no word on "on why mortgage troubles in Canada are just starting"

If little immigrants come to Canada, the country will not function properly

When they lower rates the insanity starts all over again. Look for much higher real estate prices staring in May. This guy must know that the bond market is signalling large interest rates cuts are coming soon.

I see a lot of folks on here dancing on the grave of folks in these positions. I am not one of them. I got a very manageable mortgage and projected to be able to afford my payments at 8%. So i planned ahead. But a lot of folks who bought did because life dictated they do. They had children, their job was in the city, and on and on. Folks will hurt and the economy will suffer. Everyone will feel it. It wasn't just rel estate speculation that caused this.

Sucks to suck. I paid off my mortage very aggressively and am done now ( age 39)

Thats typical for the poor, its not often things get better.

I talked to somebody that has at least SOME money, they want to buy real estate to flip, and point out the high interest rates mean less competition for real estate, so he figures he'll save more money on lack of competition than the interest rates, and since the property will be rented, that just goes into rent because its a landlords market.

Remember, if you're worried about running out of cash to make your mortgage payment SELL. Sell before everyone else does! Assuming you have equity.

After loosing your business, they are now commung for your homes and jobs😢

Everyone told me real estate was easy money?

Freeland economics at work!!

"Be pro-active about it"? what the f*** does that mean?

The 26% are bots 🤡

How much if this is manufactured so large property management companies can swoop in an buy house to rent for ungodly amounts?

There’s never been more money or food on earth things have never been better except for the fact that the wealthy 10% have most control of it leaving the lower less privileged 10% to suffer in squalor and poverty….

Except less/except more lol no no send them back

No immigrants needed... Russia doesnt have much immigration !

THE LOW RATES WERE THE SET UP TO BRING BUYERS IN ,THE BANKS KNEW THAT THEY WOULD BE RAISING RATES AND THEN THE BANKS COULD TAKE YOUR HOME AND YOUR DOWN PAYMENT, AND ON TOP OF ALL THAT WHEN THE BANK SELLS YOUR HOME YOU WILL HAVE TO PAY THE BANK LOST. OH TRUDEAU AND SINGH ALONG WITH THE BANKS DID THIS

Who takes these polls seriously?

Why is the Bank of Canada, being allowed to raise interest rates, so aggressively? I think some of their laws need to be changed.😭😭😭

😮 regarding immigration, now not the time to help others abroad when clearly we need to clean up our back yard badly. Buckle down way to many homless,way to many addiction issues here way to many waiting and waiting for heath care ,

Justin Trudeau is why, not hard to figure out

😆

So we are struggling with building enough housing, but we are letting our borders be overrun with immigrants, and we wonder why there are housing issues. Building is a lot harder than denying access, so the easy solution is to reduce immigration to next to nothing. Maybe even less than normal, since we are running with much bigger numbers.

the folks who haven't figured out that their mortgage payments are going to increase by 250% are the ones who aren't 'concerned'. This is the crux of the decision as to when the Liberal Party of Canada needs to call the next election, before Peoplekind realize that Lustin' has screwed them over for the benefit of his Elitist friends at the Big Banks or before, thus enduring his polling numbers of today.

Why would bank of Canada start to decrease the interest rates down if the home prices are still unaffordable? And once the drop of the interest rates the home peices will start going up even through the roof. Are we heading to be a 3rd world country?