Canadian real estate is about to collapse

I’ve been working as a real estate agent in Toronto since I graduated high school in 03… One of my long term high net worth investor clients just called me to put up 80% of his residential properties on sale and 50% of his commercial properties.

This guy is not your average investor, he was literally buying about 10 properties a month in 2009-2011 during the bottom of the market. He has never once sold anything other than to fund another real estate project/investment. He doesn’t want to buy anything with the funds from these sales until “the market cools down” in his own words. This is someone that has made me millions in commissions over the years and also millions by following his investment strategy of buying top tier pre construction projects in Vaughan and Markham.

If he is selling, something is REALLY WRONG with the market. I’m sure this applies to other countries as well because his portfolio is spread across 20 countries and he is selling a lot off those too.

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kill yourself

Only if you go first

ask him his predictions on interest rates

Does he have property in Australia? Because the prices in this country are ridiculous

I'm a real estate lawyer and have practiced in Toronto and Ottawa for the past 10 years. Raising the rate by .5% is negligible monetary policy.

The real estate market is not going to collapse.

Close thread.

i would guess yes. metro areas of Anglo countries like NZ, Aus, Canada metro are the heartbeat of the property bubble

Your client is moloch?

Rates are about to get jacked to 5-10% in the next 12 mobths, which means all investment assets are going to be nuked

Yes all the Anglo nations
This has nothing to do with rates, my client is an oracle and literally sees where the market is going before it goes there. He bought many properties(20+) a few years back in crackhead Oshawa for 200-300k that are now going for 800k+

Doubtful, He is Chinese and most likely tied to CCP from the vibes I get, but I go by the “Don’t ask, don’t tell” mantra

Tldr; China take Taiwan, Canada bans Chinese real estate purchases, real estate collapses

What happened recently?
The feds froze assets of truckers and of Russian oligarchs

Maybe he sees the writing on the wall and wants to liquefy his assets? The market is fine, our clients have been selling 60% of units pre-construction in only a few short weeks. There is insatiable demand for housing in the province and particularly in the GTA and now Ottawa. Your slope client is the problem.

Fuck off Vadim Vilensky

Who the fuck is buying all these properties?
Do you see commercial properties continually going up?

T. emigrated partially because of the housing market.

>Who the fuck is buying all these properties?
Chinks, unironically.

Canada's housing crunch would be correct pretty quickly if the government banned foreign ownership of real estate.

Is he jewish or asian?
If he's jewish , he may know internal financial shenanigans.
If he's chinese, everybody sees signs on the wall.
China joins and supports Russia.
These crazy people go nuts, Russia bad, so therefore China will be bad.
Then... if China somehow takes Taiwan.
Then Chinese investors will be blocked from US and Canada.
And they've been buying up Canada.

>Today, the Bank of Canada raised the target for their overnight rate. This means that interest payments on products like variable rate mortgages and lines of credit could now be higher than they were last month.

In Ontario 20% of homeowners own multiple homes, mostly boomers with a few investment properties. Also the feds bring in like 300k immigrants a year. Many of our client's pre-construction sales are going to Indian and Chinese immigrants.

The reality of the matter is millennial and genZ have been stuck renting at an age when boomers owned, because there is not enough real estate available to make it affordable.

Also during covid things like lumber and concrete went up up to 40% in cost, while borrowing costs We're at an all time low

So it's a double edge sword of low supply, high construction cost and cheap money that's really driving up the Ontario real estate market

OP, he own much in Singapore?

Ive been saying since 2020 that late 2022 or 2023 would be when the property market cools down

Bubble is about to pop soon

It won't pop, it will cool. There's too much demand, too many bidding wars on particular detached homes. The supply is too constricted, again especially for detached homes, for it to pop. And boomers are all sitting on mountains of cash they give out to their kids to buy properties

Canada is becoming a country of a landed elite with a renting under class

you forgot the
>...and find out if there really is a God or not.
try to keep up oldfag.

Fuck off, with all the attention and absolute paranoia, the reason nothing has surfaced during these years is most likely because there is nothing going on but Epstein plane rides with exploited teenagers.

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Post visual proof that you’re a realtor, if you actually care about being believed.

I ordered a pizza right now. Should I stop eating it?

trudeau is owned by the ccp tho

Asking for a protip, when should the collapse happen? My wife and I saved 100k for a house and we'd want to know when would be a good time to buy.

I dunno how a teenager or someone in their early twenties can even get out of bed especially if they are a citizen. Your entire life will be a struggle while people who don't even speak the language get it all free. Honestly I'd probably be okay with getting nuked because there's no way back from the damage they've done to the west.

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Which city? In my opinion get into the market as soon as possible
The GTA will keep rising

Where do chinks and poos find the money?

Selling shit to the West.

liquidate into what? Fiat?? Real estate is notoriously illiquid, so all this only makes sense if he sees a better bargain in another asset class. The government is going hard on MOPE and with any crash the central bank is just going to quadruple the money supply, so I don't understand why he would want to move into fiat unless he's buying all these properties on leverage.

Move to fiat, then shuffle into equities before the government goes to the printer?

fpbp

Unironically mortgage fraud
I have a few clients with properties that they should not be able to own based on their approval amounts from a legit broker

Interesting, I believe you now. Thank you for the heads up.

Montreal and surrondings. Preferably in suburbs

I know someone who did this, more than a few months back. Finished closing before new year. Same thing with the market. Taking a break.

True but I don’t think xi wants money flowing out of his country

I'm not familiar with the Quebec market other than its significantly cheaper than Ontario. I'm in Ottawa and people often go to Gatineau to find cheaper housing.

I've always been of the opinion it's better to pay a mortgage than to pay rent, so if you have the money for a down-payment then go for it

The J-w has spoken!!!

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Canada's boomers have successfully detached housing completely from reality. Russia could shower this country in nukes and blow everything to dust and it would just make real estate prices go higher.

Get a grip, you sound like every boomer around the lower mainland. The global debt bubble is popping, the things you speak of are inconsequential in comparison.

>kek

This user is asking the real questions. What's his plans with all these 10s of millions he's about to collect?

That makes sense.

>He is Chinese and most likely tied to CCP from the vibes I get
Maybe his selling is a sign that China is finally getting out of Canada

We are currently looking for something affordable but the houses in our neck of the woods are insanely expensive even though it's located in a river flood hasard area. We try to aim to stay local as much as possible without going to far from friends and relatives once we move together.