Is the housing bubble about to burst

[K Douglas]

If you believe this guy its just a matter of time. Negative amortization I didn't even know that was a thing here in Canada.

 

[dirkd101]

This has been a topic, from before the internet days, so I highly doubt it.

The guy in the video is just looking for clicks. There are and always have been houses that don't sell right away. I see the new strategy by them and the realtor, of putting it back on the market at a low price, to create a bidding war, like the ones that happened before.

Before Covid, there was speculation that the cottage market would "correct" and we've yet to see that happen.

 

[K Douglas]

I get it people have been foreshadowing the collapse of the housing market since the 2000's and that hasn't happened at all. In fact its been the inverse.
But there is some economic merit to what this guy is saying. A lot of people bought property in 2020/2021 when the interest rates were so low. Mostly investors. If they are still holding these properties and took out large debt they are going to be looking at significantly higher monthly payments. There is no doubt that real estate speculation, both foreign and domestic, has fueled a lot of the rise in property prices from the past decade. Now that many have fled, the prices need to 'adjust' to what people can afford.

 

[richaceg]

townhouses in Pickering is reaching record highs of 900s...10 years ago they were at $280k... I'm talking about townhouses from the early 90s....if you have a well kept single in Durham, you have a 1M house right now...

 

[K Douglas]

I think Durham region in general is faring better than the majority of the GTA. They seem to consistently have the lowest days on the market. But in my opinion it is sheer lunacy that a 3 bedroom townhouse in Pickering is fetching $900K+