2024 real estate outlook predicts return to peak Canadian home prices: Royal LePage report

Рет қаралды 46,477

6 ай бұрын

One of Canada's largest real estate companies, Royal LePage, forecasts a return to peak home prices by the end of next year in preparation for what could be an active market.
Its 2024 outlook, released on Thursday, suggests national aggregate home prices will increase by 5.5 per cent by the end of 2024. But those increases will depend on the Bank of Canada dropping its interest rate by late summer or early fall.
The report suggests home prices could increase between three to six per cent in Toronto, Montreal and Vancouver, while they expect prices to jump eight per cent in Calgary with the Alberta market seen as a more affordable alternative.
Global’s Kyle Benning reports.
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Пікірлер: 137

@EAL67 6 ай бұрын

I can’t decide who should be more embarrassed… - Royal LePage’s shameless attempt of passing off their interests as objective analysis. - This ‘journalism’ confusing special interest groups with expert opinion. - People who believe this nonsense.

@d.r.tweedstweeddale9038 6 ай бұрын

3 for 3! 😉

@alexrubin5955 6 ай бұрын

Journalism of course. Businesses will do what they have to do.

@truthteller6743 6 ай бұрын

Couldn’t have said it better myself. Well done. The Marxist/Communist/Nazi style government and the people who promote it is where it’s all begins.

@dipansharma708 5 ай бұрын

Feel sorry for the people who believe this nonsense. Embarrassed of Journalism who perpetuate it.

@berelentless5327 4 ай бұрын

Look at the defaults. They want people to carry the bag.

@d.r.tweedstweeddale9038 6 ай бұрын

Yeah, we're going to take the word of a Real Estate company when it comes to home prices. This should be posted as an Ad for Royal LePage.

@rockyjohnson9243 6 ай бұрын

only reason the prices are lower now is because interest rates are high simple as that. If it goes down by even half a point it will surge back up. But honestly the only difference in payment is that your giving the owner more money instead of the banks.

@berelentless5327 4 ай бұрын

People will be declaring bankruptcy because of job losses. No one is buying. I make 130k a year not to add my wifes income. We aren't buying or holding the bag. We are waiting for more foreclosures from fools.

@rgen28 6 ай бұрын

Royal lepage. Of course they will say this. They want higher commission. The system needs to change. We should stop paying commission based on selling price. It should be a fixed fee.

@rockyjohnson9243 6 ай бұрын

It's called for sale by owner? but most people don't want the extra work.

@sachinbhadauria5309 6 ай бұрын

Exactly why I came to comments but the i saw your comment

@rgen28 6 ай бұрын

With today prices, do you really fee they are worth over 50k in commissions. It’s no wonder there are so many agents out there. Lastly we should follow other countries where the commissions or fee are split. Owner and buyer pay their own fees. This way both side of agents would require to truly act on behalf of their own party.@@rockyjohnson9243

@danielhouse1053 6 ай бұрын

Definitely needs to be more competition. A very shady business

@lesliejia3073 6 ай бұрын

Actually, you always can pay a fixed fee. In the fee section of the listing agreement, you can enter any percentage or any fixed amount you want. You can even enter $0 there.

@RobertTaylor-tj2dk 6 ай бұрын

Real Estate Company saying the worse is behind us, seems reliable!

@Carolinapetroska 5 ай бұрын

Wrong. It's still ahead of us. No property is selling at asking prices these days .

@ajcan89 6 ай бұрын

Asking people who make money by real estate transactions to predict the market is a joke of journalism.

@Victorinot 6 ай бұрын

This is a huge red flag. Realtors are desperately trying to sell what they can before next year and you are not ready for 2024. Word of advice: buy only what is essential, don't invest in nothing, if you have debt pay it of as much as you can, if you have parents make a plan B to go live with them just in case. I really hope I am wrong but I feel like very hard times are coming.

@moneymonkeyaudiobooks682 6 ай бұрын

I was looking for an unbiased video by Global News but all I saw was an advert by Royal LePage. Did anyone see the “Skip” button for the ad? 😂

@robcos8162 6 ай бұрын

Have you ever heard a real estate company say anything that is negative about the housing market…never. They always put a positive spin on it. Interest rate norm is around 3.5%. People can’t afford the overinflated house price.

@bobwoods1302 6 ай бұрын

3.5% is normal is it? How about 20% interest as has been in the past?

@jaxson3887 6 ай бұрын

Real estate agents=🐍🐍🐍

@ArabicReja973 6 ай бұрын

To control housing prices, the Canadian 🇨🇦 government needs to stop Chinese money laundering into the country.

@tuberose4200 6 ай бұрын

This is how people are given misinformed.. it shud b coded as a crime in th criminal code of Canada..

@furiousmack 6 ай бұрын

They are the one who out of business now , so look worried, but don't fall into this trap , don't buy house at this historic high price and interest rate.

@Faux-King 6 ай бұрын

I don't want to pay 1 mil for a 300sqft condo. I want to pay 4 mil instead. -Average Canadian

@zhoubinjason 6 ай бұрын

To the moon!

@stephb7702 4 ай бұрын

I love how everyone talks about house prices going up or down without ever mentioning that it’s not the “worth” of the house that fluctuates, but the currency losing value…

@deborahmorand9540 6 ай бұрын

Yeah, the news is just like the real estate business. They serve each other off of gold plates. Then they throw the leftovers to the public in hopes we devour what they are dishing out. Stupidly, we feed off all the bones and scraps they throw. 😂

@johnnyboyvan 6 ай бұрын

Silly. People buy way beyond their means!

@rnainggo1690 6 ай бұрын

I'm cautious when BoC plans to lower interest rate next year. Maybe they are seeing something Roual LePage is not seeing in terms of economic outlook, especially looking where the bond market is at currently. Royal LePage is sales people. They are profiting from transactions, so any rattle they see in the horizon they will leverage the opportunity.

@d.r.tweedstweeddale9038 6 ай бұрын

Exactly! 👍👍

@LegendofNelda 6 ай бұрын

I think big cities will return to peak when rates go down, as long as imm igration is high the demand will be there. However there are tons of small towns (out of communter distance) that are still stubbornly priced, these prices may fall 10, 20 or more % even if rates go down. No one is going to pay 750k for an average house in central rural Ontario anymore.

@rnainggo1690 6 ай бұрын

@@LegendofNelda oh no doubt if rates go down, but we're talking 2024. Will rates go down below 4%? no one knows. At this high rate environment, immigrations have to bring big money (cash) to avoid high borrowing cost (big city comes with big price tag). I would like to see rates go below 4% back to cheap money era, but that means we may be in recession for the BoC to lower it that much (I assume).

@beautanner8409 6 ай бұрын

If this is true... what questions will have to be asked to the government, who is promising a massive effort to return us to affordability. This would be moving in the wrong directions.

@berelentless5327 4 ай бұрын

We are in a major recession with real estate companies, banks, and realtors in denial. They are in for a major awakening during defaults.

@egc04 6 ай бұрын

class action lawsuit against real estate commission won in USA by plaintiffs another one is on going in GTA many countries eg UK agents get 1 -2%

@LegendofNelda 6 ай бұрын

Probably in the GTA and other huge markets we will see a return to peak once rates start to go down. But in so many smaller communties housing is still way to over inflated and I think still had a way to go to bottom out, 10-25% at least.

@zomgoose 6 ай бұрын

These people have no shame. They are nothing more than overpaid shoe salesmen.

@d.r.tweedstweeddale9038 6 ай бұрын

That's not fair to shoe salesmen! 😆

@zomgoose 6 ай бұрын

@@d.r.tweedstweeddale9038 I am sorry Al Bundy

@stevenloewen8875 6 ай бұрын

The only difference between real estate sales people and used car sales people, is real estate people are not selling cars.

@waittea3742 6 ай бұрын

I can understand why, they are probably trying to save themselves from going broke in the housing crisis

@henrygreenwood3927 6 ай бұрын

Of course home prices are not going to fall. With the current immigration targets...Money from people in other countries will pay the high prices

@ashk5488 5 ай бұрын

almst there but near miss

@homanq8938 6 ай бұрын

If rates are cut, house prices will rise. The demand is still here. Many like me are trying to get into the market. I'm hoping to do so before the rate cuts. I'd rather a lower principal and higher rate (then refinance) than a higher principal and lower rate. You're stuck with that principal for a long time.

@ashk4155 6 ай бұрын

Yea okay buddy so why haven’t you bought yet if you believe that

@waittea3742 6 ай бұрын

The price will drop even further regardless of the interest rate. Look at the economic downturn right now, interest rate doesn't help if you have no down payment or no good salary

@user-vi8ci2bi6b 6 ай бұрын

Stick with your plan but wait longer. Elephant in the room with the BOC and all levels of govt is society doesn't function with all money going to housing and none to support small business and creature comforts like new shoes, restaurants, vacations. Real estate will be crushed. There will be casualties.

@hsbd-hl7gn 6 ай бұрын

Boc knows this,, i dont think so its gonna happen soon

@buxvet 6 ай бұрын

You have to buy to live and hold. I bought 30yrs ago even at the lower prices today Ive still made 5x my buy price, in 10,20,30 yrs prices will be higher, dont buy what you cant carry

@aalampara7853 6 ай бұрын

This is called as paid ad 😂😂😂

@erichoughton4128 6 ай бұрын

Doubt it.

@JessT-vg7ib 6 ай бұрын

I want interests to go up further.

@JeyFox 6 ай бұрын

Petition to the House of Commons e-4701 has set record as most signed in Canadian history. Sign it today!

@jessefaw 5 ай бұрын

If that happens interest rates will need to go higher

@betty5064 6 ай бұрын

I wonder how people will afford those homes with higher mortgage rates., if the Bank of Canada doesn't oblige.

@iknowbetter5075 6 ай бұрын

I think next year you'll see lot of foreclosures. But no worries Blackrock will buy them.

@geoffreyhigginson5290 5 ай бұрын

Okay, people can't afford homes right now that's the only reason for a slow down. Most people who already bought while rates were cheap haven't felt the pressure of these rate hikes until at least 2025-2026. The Canadian real estate agency are a bunch of crooks that collude with each other to make the price of homes rise. This is how they line their pockets. Most immigrants moving here aren't rich, but rather fleeing poor living conditions, such as war or poverty. The rich wouldn't come here to invest in the worst housing market in the world.

@Davidjune1970 6 ай бұрын

How about you actually report on all the cost of a home that goes to each layer of government as fees and taxes for the building of a new home, and how difficult the regional government actually makes it to build a home for a small person instead of these large corporations that seem to dominate entire neighborhoods that are being built by buying all the lots and dictating the costs?

@goranmohar8974 4 ай бұрын

haha why are you still laying soo much it looks to me it will go to half

@cherifhajebrahim4740 6 ай бұрын

why i will ask a business realtor compagny to give me prédictions on housing market prices, it does'nt make any sense. it biased information. thes e compagnis like RL, Remax make their living from seeling houses , so how is it possible to provide a impartial analysis for trends on prices!!

@samben8915 6 ай бұрын

They call themselves experts .... Warren Buffet said no one can predict the market

@k.sullivan6303 2 ай бұрын

People went out and bought homes that were priced at super inflated prices during the Pandemic. If the bottom falls out of the real estate market, they will all cry when the value of their homes crashes. Yet they will be the first ones to complain about inflation, when they go grocery shopping.

@user-uz1si3fu1i 2 ай бұрын

Congratulations Justin And Ford to make the construction housing workers to be able to build homes across Canada 🇨🇦

@user-kv4kp4co1r 6 ай бұрын

Return to the pick! Well, who is predicting? Royal LePage, of course. 😅😅😅 Hopium is a great drug. 😂

@ortenciaramkaran3316 6 ай бұрын

It’s a lie…..don’t buy……

@nadura55 5 ай бұрын

Sorry not buying it. Unless interest rates come down drastically this market isn’t going anywhere

@lapraxi 6 ай бұрын

Nice so many millionaires on paper

@rachelk8368 6 ай бұрын

According to Real Estate agents... let's look at the macro levels- we are building a lot in Vancouver, Toronto and Calgary, there is a decrease in new applications in PR and students, we have higher unemployment rates, we still have high interest rates. 25 bp changes very little we won't see 100 bp point drop from today for at elast another 2 years. The US Fed will drop because it's an election year then they will increase again in 2025.

@Supertrooperalicecooper 6 ай бұрын

As brought to you by Royal Lepage.

@a_t_f2869 6 ай бұрын

Ya that’s not happening. Prices will fall drastically. Rates will go up more and the economy will hit the bottom deeper then it ever has before. Nothing but a hopium add to give people false hope!

@katsavidiz 6 ай бұрын

Yeah! You know what that means...you better buy now or prices will get out of reach!

@invocation17 6 ай бұрын

They need to not give this guy a platform.

@neilroy8840 6 ай бұрын

DO NOT BUY IN 2024 AS THE HOUSING MARKET IS GOING TO CRASH................WAIT UNTIL 2025

@shehmar1 6 ай бұрын

This is why interest based transactions are forbidden in Islam because Islam gives the real economic model that uplift people, study Islamic tax system. No rip offs

@funkopopssmoked 6 ай бұрын

So unrealistic prices gotta come down not sure where the disconnect is they must just want people to truly be broke trying to never buy a home so crazy when you make 40,000 a year how do they expect people to buy a house what a payment for 35 years ridiculous I hope they do raise and the intrest rates go up more it will look good on you

@bobwoods1302 6 ай бұрын

Sitting around hoping others fail because you are losing is no way to go through life.

@funkopopssmoked 6 ай бұрын

@@bobwoods1302 like to know how I'm losing I got a govenment job the fact is the wages arent matched for huge price increases in NB this isnt alberta or any other province and I dont hope others to fail its realistic go pound sand

@bobwoods1302 6 ай бұрын

Oh well ya of course if you have a Government job you're livin the high life. 🙄🤣😂🤣Inflation is Global and has very little to do with who's the PM.@@funkopopssmoked

@Marsalien100 6 ай бұрын

Prices will go to the moon, but what they refuse to tell you is that there will be an economic collapse of the housing market immediately after that all time high and it will happen when we least expect it this year.

@klnrklnr4433 5 ай бұрын

hmmm, real estate firm pumping their own tires. what to believe, what to believe.

@user-uz1si3fu1i 2 ай бұрын

Canadian Provinces And Territories and Municipalities are going have more homes in Canada 🇨🇦 which are currently being built

@user-nr7jm1so5j 6 ай бұрын

Frikken maddness.

@mash4home 6 ай бұрын

Manipulated, Manipulators, Manipulation

@Po101080 6 ай бұрын

Real estate company telling you real estate will skyrocket back LOL...when Pierre comes in next year (yes, next year), houses will CRASH

@catherineto 3 ай бұрын

Q1 passed. We are in further recession in real estate esp condo market and rental market

@skipperd7426 6 ай бұрын

It is going to crash , dont fuel it. Who do you believe,?

@Chima4289 3 ай бұрын

With OSFI limiting mortgages to 4.5 yearly incomes, I wonder who is going to bid prices higher this time. Must be new immigrants coming with bags of cash. To buy an average $1.5 mln house the buyer needs to make $400K/year.

@SaHlGood 6 ай бұрын

OK that’s great but what about the interest rates just cause the price of the homes go down the interest rates will kill us being home broke is nonsense. You’re a prisoner in your own house.

@chrthewrestler2301 6 ай бұрын

house prices will never decrease. it will only increase and that applies all around the world honestly...

@colinsellers1143 6 ай бұрын

This message brought to you by Royal Lepage. A simple math equation can tell you everything you need to know about real estate market

@peej91 6 ай бұрын

Lmao uhoh rates well come back up again !

@Doug-zl8nb 6 ай бұрын

You gotta be proud of the government... Is skilled workers coming in.... Is lots and lots of crime that's what the government wants

@je-freenorman7787 6 ай бұрын

As long as the wealthy are ok, the rest can suffer?

@egc04 5 ай бұрын

like listening to a used car salesman

@BigBore525x 6 ай бұрын

We NEED to decommodify housing! No more profits over people.

@rockyjohnson9243 6 ай бұрын

How about stop the mass immigration this is what is causing the spike in prices. Same applies to food and every other commodity.

@josephsmith594 6 ай бұрын

Right, remove the only retirement savings plan of millions of Canadians.

@rockyjohnson9243 6 ай бұрын

@@josephsmith594 well said, people wanna come here they know the housing prices are high and know that it takes sometimes 2 to 3 generations to pay off a home here. However when you have that asset it is forever or until you decide to sell it or rent it out and retire. Life is a sacrifice and many want the easy road which does not exist.

@BigBore525x 6 ай бұрын

@@josephsmith594 We aren't talking about grandpa bill's house that he sells when he wants to downsize in retirement. When we say decommodify housing, we are talking about hedge funds, adventure capitalists, slum lord business conglomerates who give your retiree pennies on the dollar for their home with deceptive and high pressure tactics. Who push rents as high as they can. All in the name of maximizing profits.

@rockyjohnson9243 6 ай бұрын

@@BigBore525x If you want cheaper houses go North however no one wants to live up there lol.

@joshwhite6425 6 ай бұрын

lol

@akinze3244 6 ай бұрын

😂😂😂 stops fooling yourself e

@Carolinapetroska 6 ай бұрын

Another clueless forecaster....lol

@ashk5488 5 ай бұрын

this gotta be the dumbest news lol

@rickvervoort9536 6 ай бұрын

Of course the houses Justin and friends build for Canadians with our taxpayer dollars will remain low (affordable).

@d.r.tweedstweeddale9038 6 ай бұрын

One of the most nonsensical Con Trolls on KZfaq! Betting you're Dutch Reform.

@rickvervoort9536 6 ай бұрын

Which part is nonsensical so I can clarify it for you?

@lastChang 6 ай бұрын

The Chinese population in Canada 🇨🇦 is a *big concern* for Canadian national security when they - connect with the authoritarian expansionist regime in China and - subscribe to their version of world views.