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Real estate market forecast
March 13, 2020
8:50 pm
Bud
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Anybody hearing anything about the condo market is it still hot will it soften

Any agents out there

March 25, 2020
9:23 am
Bud
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Be interesting to see if they adjust down mortgage rates for the deadbeats. Under pressure from them and the condo lobby they permanently lower their closed rates from 3% to 2% for example. Therefore those who could access affordable housing due to the selloff will no longer be able to as they backstop douchebags like "Jerry Mercedes no money down eight condos" leaving taxpayers to pick up the rent subsidy tab.

March 25, 2020
11:56 am
toto
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I agree. When the government unleashes free money, so many of the wrong people seem to get it !

March 25, 2020
6:16 pm
Bud
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how does this industry remain so secretive with all the agents out there whats goin on in the marketplace now who's buyin with what money

April 1, 2020
9:12 am
Bud
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ATTN: Real estate brokers, investors and bankers why so secretive lets talk.

April 1, 2020
9:52 am
toto
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I'm watching real estate in west Kelowna, I've seen lots of reductions in the last couple weeks.
I imagine real estate agents will get the 2000.00 a month emergency cheques , what if they sell a house while they are receiving it?

April 1, 2020
2:19 pm
Bud
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Am i right investors wont get their deposits back if the project has begun and the foundation is completed or there's just a hole in the ground? Cresford for example

April 1, 2020
2:52 pm
Doug
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toto said
I'm watching real estate in west Kelowna, I've seen lots of reductions in the last couple weeks.
I imagine real estate agents will get the 2000.00 a month emergency cheques , what if they sell a house while they are receiving it?  

Have you and husband not moved to West Kelowna yet, toto?

I was meaning to ask you if you'd moved yet...

Cheers,
Doug

April 1, 2020
2:56 pm
Doug
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toto said
I'm watching real estate in west Kelowna, I've seen lots of reductions in the last couple weeks.
I imagine real estate agents will get the 2000.00 a month emergency cheques , what if they sell a house while they are receiving it?  

I'm not sure what the clawback threshold is for the Canada Emergency Response Benefit, but imagine it will be similar to EI whereby if a person's pretax salary is more than $55,000 per year, there is a gradual repayment scale. I can't imagine we'd be giving the CERB to unemployed lawyers, academics, and SVPs with their six-figure salaries. Assuming that's the case, I would think it would be up to the real estate agent to guess whether they anticipated earning more money for the remainder of the year. If they anticipated their salary being down significantly, then they may want to apply for it, but would be cognizant they would have to repay it next year. Fortunately, many of them are used to that as they frequently don't pay their income taxes by installment so end up with a whopping income tax bill the following year. 😉

Cheers,
Doug

April 1, 2020
4:14 pm
toto
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Yes Doug, still looking, and now with covid 19 we don't know what to expect price wise. There may be a correction even with extreme low interest rates.

April 1, 2020
4:16 pm
toto
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I also saw that there will be fines if Canadians try to scam the emergency benefits.

April 2, 2020
10:25 am
Bud
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What ended up happening to Urbancorps condo buyers.

Cresford goes bust
https://www.google.com/amp/s/www.thestar.com/amp/business/2020/03/31/three-luxury-condo-projects-in-downtown-toronto-go-into-receivership.html

will we see auctions cheaper condo prices? plenty of holes in the ground. an agent told me not yet but more sellers r motivated.

April 6, 2020
9:34 pm
Bud
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Bigger cities mean more viruses. What does this mean for Intensification higher density cities like Toronto will development now be restricted in the city centre pushed out to the perimeter suburbs and beyond. Is that bullish for inner city condo prices or will more residents want to escape?

"Bigger cities can expect to see more cases simply because there are more people to infect. But residents of major cities also tend to interact more frequently with other people and have larger social networks." G&M

April 7, 2020
4:34 am
Bill
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Not sure about Globe view, e.g. lots of very big cities in Asia we never heard about having any problem with this virus.

April 14, 2020
11:04 am
Bud
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