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Wtf ? Told what ? Common sense take accountability for your actions

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Toronto housing- you were never told ? #buy #RealEstate in #Canada

The Lord will open to you His good treasure, the heavens, to give the rain to your land in its season, and to bless all the work of your hand. You shall lend to many nations, but you shall not borrow. – Deuteronomy 28:12

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  • Yes Mike! You called it and did your best to warn the masses. Beyond that you have shown people alternatives to avoid being burned by the huge housing crash.

    Where are your detractors now?

    crickets

    tumbleweeds

  • Ah, screw the Russian guy. You did good, beb. Living in peace, your own home, kids, etc. All on a CREDIT CARD! LOL!! That's not that they expect you to do. LOL. I'm still here at the airport, bastard.

  • "Real estate always goes up." LOL
    Gravity takes hold of everything.

  • In Alberta you can mail the keys back to the bank. jsyk. Google "jingle mail Alberta"

  • REMEMBER WHAT I TOLD YOU BREFORE, MIKE; YOU CAN NEVER EDUCATE IDIOTS OF THIS WORLD. GORDON GEKKO SAID "GREED IS GOOD" – BUT NOT BLIND AND UNHINGED GREED THAT MAKES YOU IGNORE ALL THE RISKS AND COMMON SENSE.
    IF YOU'VE SAVED EVEN ONE SOUL FROM THE HELL OF BANKRUPTCY, YOU'VE DONE A STUPENDOUS WORK. KEEP IT UP, BRO!
    CHEERS, ARTHUR FROM SYDNEY, AUSTRALIA

  • The following article is about China, but look at where Canada is in the credit bubble chart…scary…
    https://investoralmanac.com/2017/08/12/chinas-biggest-credit-bubble-in-the-world/

  • Looks like everybody is escaping from real estatate and buying bitcoins… Real estate is REAL and you cant move it…but todays world is mobile

  • Mike…are you accepting bitcoins in your store today? Do you think you are gonna accept bitcoins in the near future?…Your thoughts?

  • Expect price drop in Aug and the fall . It can correct at least 20 % and up to 50 % from July price, depending on GTA location. Cheap money leads to debt bubble and of course the current house bubble which is starting to burst. Main stream news keep saying it will recover in the Fall . Yes either they are being ignorant or are getting paid by the real estate agent gangsters to lie about it. cheap money has distorted the whole market and this will soon end.

  • Greed blinds people to common sense. They saw the crazy money people made in the run up and got jealous so everyone piled in. If you act like a sheep expect the slaughter.

  • Your videos are the best, honest to the core. In northeast US, We're still seeing the effects of our real estate drop. Municipal Taxes fall when real estate values drop. City revenues suffer. Here we've been seeing layoffs of Teachers, school budget cuts. etc. because with a decline there is less money. People who thought they had a 'nest egg' in their houses, have far less when they sell, less money means less spending.

  • I am happy the Toronto market is correcting. I now think the Vancouver market will correct because the NDP will remove the loopholes the BC Liberals put in. And the market was correcting when the foreign buyers tax was put in. Mike you said it yourself that people bought in with small dip in the market not thinking about the big crash that is coming. If your educated and informed you won't buy into an unstable housing market.

  • Exactly! I left a comment on your another recent video about Warren Buffet. He is not trying to save these flippers, instead he will destroy these flippers in the long term.

  • If Toronto only had the FBT, then it wouldn't of been as big of a drop.
    But add the 15 other policies. Home cap issue. N rate hikes. All within a 3 month time frame scared so many off from entering the market n a lot of panic to sell.

    And then the stats yr over yr being a record year in 2016 just make the numbers look worse than they are.

    Rent pay vs owning a Condo or townhouse mortgage are pretty much equal. Condo prices went up some 20% still. Avg price 500k.
    With detached dropping to avg 746k. The gap is getting smaller so detached will rise just will it be this yr or next due to all the policy change at once. But sellers won't keep dropping their prices as no need to with no job loss going on. This was a gov caused recession

  • When a category 5 hurricane approaches the coast you expect the weatherman to AT LEAST notice a few clouds. Nobody in the mainstream or at the Bank Of Canada predicted this once in 200 years, epic meltdown.

  • People have been warned about the overvaluation / bubble for years now.

  • Good point about not being able to walk away. When talking to people pre-crash, they said there would be no correction / crash because people can't just walk away. Nonsense! The fact that you can't walk away only makes the situation more painful. What happens if a job comes up in another area? You might have to sell at a loss, and be on the hook for the difference.

  • I live < 1 h from Toronto, and the prices drops are widespread. In my area you can now buy a decent detached for < $500. You didn't see that 6 months ago. Of course, the 2 rate increases will hopefully help things from "bouncing back". Bottom line is that affordability (according to RBC) hasn't been worse in 30 years in this area. How much higher could it have gone?

  • my sister in law went out and buy without selling now her house just sit there…its not selling she is crying saying she didnt see this happening no one warn her about it..

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