Steve Saretsky
@SteveSaretsky
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Real Estate aficionado. Vancouver Realtor & investor. Host of The Loonie Hour podcast.
Vancouver, BC
Joined March 2010
Nothing stops this train.
The Carney government is poised to post a massive deficit of more than $92 billion during this fiscal year, almost double what was forecast just a few months ago, a new report says.
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The crypto pump is here. See you on the moon, comrades! 🫡.
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Random number generator strikes again.
#BREAKING: Canada adds surprise 83,000 jobs in June, driving unemployment rate down to 6.9%
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CMHC is now floating nearly 90% of all debt on new rental construction in Canada. A massively successful financing program that is ultimately going to sow the seeds of its own demise.
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Memos are being sent out in Ottawa. The job cuts are coming.
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You don’t say.
Immigration caps are contributing to lower asking rents in Canada, CMHC says
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RT @BenRabidoux: Of course they are, you goof! . When I testified to the Standing Committee on Finance in '22, I specifically flagged growt….
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RT @RichardDias_CFA: "Western leaders have ceded so much geopolitical power to their enemies in the name of climate change—the impacts of w….
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Rents peaked and are declining in every major city except Edmonton which has historically always lagged Calgary. They won't be far behind.
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Asking rents in Canada fell for the 9th consecutive month in June. A stark reversal thanks to a record pipeline of purpose built rental construction and zero population growth.
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Government tax revenues are the next shoe to drop.
Housing starts in the City of Toronto are down nearly 60% in 2025 relative to 2024, and in the rest of the GTA, they're down nearly 30%. And given that starts lag sales, this is going to get a whole lot worse before it gets better.
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Random bear accounts telling me it’s a bad time to buy real estate. There’s literally record high inventory in some markets. Tons of selection, horrible sentiment. We have buyers picking up properties $1M+ below previous sale.
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Falling home prices has improved housing affordability. Buying a home in Canada is the easiest it's been in the last three years.
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If this continues you can expect about 40,000 jobs evaporating in the GTA construction sector. Per Altus Group.
There were just 42 new condos sold in the entire city of Toronto for the month of May. If that’s not a crisis I don’t know what is.
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There were just 42 new condos sold in the entire city of Toronto for the month of May. If that’s not a crisis I don’t know what is.
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With housing starts falling off a cliff, all levels of government are having to adjust development fees. BC government now allowing the bulk of provincial fees to be paid at completion.
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This is happening in Vancouver as well.
Bank Blanket Appraisal On New Construction Condo Says It's Worth The 2020 Purchase Price: Every Other Appraisal Says Its Worth 25% To 30% LESS. WTF is going on here?. Let me explain how this stuff works. Hi-Rise Condos take 4 to 6 years to build. Today that's a problem. 2/.
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As housing starts circle the drain, developers are lobbying the federal government to amend the foreign-buyer ban to allow foreign investment in newly constructed homes.
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