Homeowners Face Massive Losses In Canadian Housing Market CRASH

I officially have zero dollars to my

name because I just took out every penny

that I've ever saved.

>> Why?

>> And this is on top of the deposit I've

already made to um buy a house.

>> And uh wow, down payments are really

large and I'm broke now.

>> I mean, this is absolutely hilarious.

>> You are broke.

Oh no. Oh no.

>> Buying a house in this market could be

like catching a falling knife out the

window

as we'll get into right now. So somebody

lost nearly 40% on this missaga semi.

And it's just absolutely crazy when you

get into the price history of some of

these as well. I mean this is

mind-blowing. So, this sold for

$920,000,

which I know you're still like, that is

not worth it. I mean, take a look around

this place, guys. Do you think it's

worth $920,000?

I mean, yes, it's been redone in the

inside here. Looks pretty nice in the

inside. Nice and modern, but it's still

a semi for over $900,000.

I mean, it's absolutely mind-boggling.

But it gets worse than that. We've got

decades of price gains being erased

here. Toronto housing market in the GTA

just absolutely cratering, of course.

So, this was sold back in 2022. Forget

this, 1.46

million. I mean, wouldn't you like to

meet the person who paid that much

money?

>> Look at this. It's beautiful. but it

just sold for $920,000.

So that's a 37%

loss on that one. And this is what

they're saying right now about the

mortgage renewal crisis coming and about

the health of the Canadian economy. So

take a listen to this here.

>> This is in context of an economy that is

weak, right? We know that projected

growth is 1% or so. It's very anemic.

It's been very low. we're going uh into

USMCA renegotiation. Business confidence

is going likely to take a hit because I

don't think Trump is going to be nice

with Canada and say, "Oh, let's sign

back and all go home." These are going

to be long renegotiation that is going

to hinder business confidence and we

know the real estate sector what it

stands.

>> We're seeing sales have stopped

>> and lastly net population growth is

close to zero.

>> The immigrants who are leaving the

country are our most educated and our

most qualified.

>> And then let's get on to another loss

here. So, this is really interesting

because when you look into the history

of this property, as Shazy points out,

always posting good stuff on X here,

it's just going to blow your mind. It

goes all the way back to 2016 here. So,

if you take a look at this place, you

know, this is a nice detached property.

The price that it sold for is obviously

way too much money and completely

unaffordable. I mean, they could have

got rid of the popcorn ceilings at

least, but they didn't. In some places,

it looks like they did. It's a nice

property and it's been redone and it

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Now, back to the video. and it just

sold, forget this, nearly $1.7

million. This is in a real estate crash

as well. So, this is absolutely nuts

when you really think about it. Sure,

it's a nice house. Maybe it should be a

million or less, I think. Let me know

below what do you think this place is

worth. And when you take a look at this,

it's like Shazzy said, look at it. It

was listed in 2016 for 2.35 million. So,

what it just sold for is more than 28%

lower than 2016, which was 10 years ago.

Excellent.

>> And it only sold in 2017, so it was on

the market a decent amount of time back

then. And get this, guys. I mean, this

is the hilarious thing about the whole

thing. Obviously, it's been renovated

since then. So back then, I mean, this

house needed a renovation and that was

obvious. So I mean, it's just completely

crazy and obviously it sold over asking

price.

>> How stupid are you?

>> I mean, it's mindblowing. People are

getting their asses spanked in this real

estate crash.

>> Daddy going to spank me?

>> And Canadians are starting to wake up

and realize that the economy is looking

pretty bad. I mean, we know it already

on this channel. We talk about the data

all of the time. You've got everything

that's happening in the financial system

behind the scenes as well that people

don't know of. And we'll get into a

decent story about that coming up as

well. Thanks to Stanley for that one. A

federal survey of Canadians shows

widespread concern that the country is

heading into a recession. Yeah, no

shares.

with many citing rising costs, job

insecurity as a key factor. Yeah, it's

no wonder when you look around, consider

everything that's falling apart right

now. So, nearly all focus group

attendees predicted a recession in the

near future, citing stagnant per capita

growth, high costs for essentials such

as groceries, and increasing layoffs in

communities across the country. And the

price of everything is just going to

obviously continue to go up, especially

with what's going on in the Middle East.

You've got Toronto real estate prices

are cratering now. They're now down over

25%.

>> Itsybitsy little gully right now.

>> But get this, if you adjust that for the

CP lie, that goes to 35% plus. And in

actual purchasing power, like you're

talking over 50%. So Toronto real estate

prices are actually down more like over

50%. So people have been absolutely

destroyed who invested in Toronto

housing.

>> I have to basically beg people to come

and just even look at the house.

>> And obviously we know Toronto is not a

worldclass city anymore. And part of the

reason for that is to do with how bad

the economy, how unaffordable it is to

live there. So, I mean, at least in part

this is reversing one of those things,

which is the affordability of living

there. But the thing is, it's obviously

not happening fast enough when you've

got semis that are selling for $920,000.

>> It was a semi.