Ravi Chander
@ravi_chander
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Finance. Equity Investor. Real Estate Bubble Observer. #WeTheNorth . Higher for Longer. 80’s kid. 🏠: 🇨🇦
Boeing Whistlebl… ☠️🪦
Joined June 2023
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Pinned Tweet
Why does everyone take themselves so seriously on this app? 😂
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@gurgavin
When it comes to accidents, either the vehicle takes the impact, or you do. The stronger the body, the worse the impact will be on the occupants. That’s why cars have crumple zones, to take the brunt of the impact.
Judging by the replies below, it looks like no one took a
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Toronto has lost its fucking mind. And for a realtor to say this 8 foot wide property feel quite large, and very open is disingenuous and snakeskin oil salesman-like.
How does one even move furniture into and out of this place with those narrow stairs?
Great for “under a
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When I told you condos are fucked, I meant it. You would expect a 600+ sqft condo by Square One in Mississauga on the 47th floor would sell for at least $550-600k last year, heck even $700k at the peak.
Now terminated at $540k and relisted at $400k?? What the fuck is going on?
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Watching the Canadian housing bubble burst in real time is kind of surreal.
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The truth about real estate in Canada, and globally.
Real estate prices have gone from 3.5X annual income to 15X income. We are in a bubble.
What’s more likely to happen? Real Estate prices drop significantly, or employers increase wages out of the goodness of their hearts?
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“No millennials, housing has always been affordable. You’re just lazy and don’t work hard enough. We did it, why can’t you?”
Meanwhile, housing vs income since 1984:
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Canadian real estate will not appreciate meaningfully for the next 5-10 years. There are a lot of other asset classes that will perform much better over the same time horizon.
If you value alpha and maintaining/increasing purchasing power, stay away from Canadian real estate as
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This is what $380K (USD I presume, so $520K ish CAD) gets you in Thailand.
Or you could buy a 1 bedroom condo in downtown Toronto, with 550 sq ft and barely a balcony (if you’re lucky), and of course, maintenance fees.
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Why the Canadian Real Estate Bubble is fucked, and so are you, me, your uncle, your grandma, your best friend, your neighbour, and the investor down the street. 1/4
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“Real Estate only goes up!” They said.
“Buy now or be priced out forever!” They said.
“Real Estate is risk free!” They said.
Meanwhile, in Stouffville:
They fucked you, folks, they fucked you, and collected their risk-free commission.
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$469K?? For this?!?!
There are prison cells in Norway more luxurious and spacious than this.
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Canadian real estate is one giant mispriced asset class. The mania behind it has dissipated. The issue is there is no way to short it and allow an efficient market. Now interest rate hikes will restore the “liquidity” by inducing supply to return to the market to meet the…1/5
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@vannyspaces
@gurgavin
I wasn’t talking about Tesla, just responding to the post and replies here saying they’d buy a car that was sturdy over a car that crumples in accidents, when crumple zones were invented to increase auto safety. You missed the point completely.
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Housing prices have warped the minds of many. No one understands the value of a dollar.
Instead of being proud of their once strong currency, they’re now proud of how much value their homes have appreciated on paper. They brag about how much it costs to buy their car (1/3)
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If you think realtors, mortgage agents, banks, private lenders and tiktokers are the only shady and despicable characters in the real estate game, think again.
Builders were quiet when their clients advertised their pre-construction assignments at a massive premium over
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Rent in Toronto declines for third month in a row?!?!
But wait, I thought we had a lack of housing, and tons of new immigrants would allow landlords to charge exorbitant rents to save their overleveraged behinds?
Weren’t rents supposed to go up? And real estate would continue
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Condo market is going to show you we were in a bubble this whole time.
Shit is about to get real this summer.
The psychology is shifting, and sellers are getting scared.
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Everyone's been partying and spending millions on 300k houses.
Bank of Canada raised, and now everyone losing their shirts and blouses!
Someone drop a beat, cause they feeling the heat in the street!
What’s that lovely scent? Oh yes, it smells of speculator defeat!
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These fire insurance claims are getting wilder and wilder. From pre-cons to Muskoka AirBnB lakefront cottages. What’s next?
Which publicly traded company has the largest home insurance portfolio in Ontario? BC? Canada? Asking for a friend 😂
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32% loss (nearly 400K) + transaction fees and taxes in 20 months. Ouuucccchhhh!! 🫨🥴
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If you have an opinion on real estate prices, but you never used Windows 95, sit down when the adults are talking.
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Imagine bottle service bitches who can’t make it on OF loathe the idea of being a realtor
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while wages have barely moved. Instead of wanting our currency to buy us more goods, we want our goods to cost more of our currency. Our thinking is upside down. We’ve been fooled. We’ve lost our quality of life. (3/3)
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@bopalmer30
@gurgavin
Yes, but imagine if all the cars on the road were sturdy and had no crumple zones, we’d be a lot less safe than we are today. The fact is, crumple zones save people from injuries or worse.
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@mortgageagentsn
$5000*12 = $60k
This should be 30% of gross annual income. (CMHC’s max of 39% is ludicrous)
$60k/0.30 = $200,000 gross annual household income
$200k income to buy a $700k condo.
What’s median income these days?
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@Tablesalt13
Meaningless, half of it is probably insurance money to replace stolen cars, lmao
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$70K profit?
If you got the property “re-ewaluated”, then the profit is imaginary. If refinanced, that’s not profit, just a bigger loan.
You only profit if you sell it, which the buyer didn’t do. This is just outright realtor math manipulation. If the mkt falls, bye bye profit.
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Called it. Canada is next.
"Lots of people bought Airbnbs [and] deprived the housing markets of listings," says Reventure Consulting CEO
@nickgerli1
. "Now that bubble's collapsing."
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Surprise surprise, another immigrant defrauding Canadians. Why are Indians like this? Invite the third world, become the third world.
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@JackOCrypto
@gurgavin
What would happen to the occupants if two passenger trains collided head first? How about two cyber trucks, assuming no crumple zones? Would the impact not be more severe?
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@stockxsucks
@Smartnetworth1
Hometown bbq in Red Hook, Brooklyn, is some of the best bbq I’ve had.
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@AttacknBlack
I was told it was all about “location, location, location”. But for real, is there any part of Mississauga that does warrant that price? lol
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Shocked… shocked I tell you. Who could have seen this coming!?!?
Not I 😏
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Hey Fraser Valley… I’m looking at you.
MoM - Listings? Up 28%. Sales? Up only 1.63%?!?!
Now, YoY? This one is a doozy!
Listings? Up 41.2%!!
Sales?
*drumroll*
Down 8.28%! Yikes!!
But yo!! Single Family Detached to the moon!!! 🚀🌕
😂😂😂
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Vacation, furniture, how much they spent at a restaurant, all in an effort to show off to people they don’t care about. We went from “look how much stuff I bought with $100!” to “look at this item I bought for $1,000”. Spend 10x more, receive 1/10th (2/3)
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Why are Punjabis from Brampton like this? Someone deport…
*checks notes*
“William Handsaeme”? That has to be an alias.
Someone deport Williamdeep Handsaemesingh back to India. He can keep his dirty fraudulent tricks back home, we don’t need his kind here!
Wild story. Owner of a brokerage that did $2.4B in volume in 2022 nailed for blatant document fraud. Personally created fake docs. Ordered to lose license for 1 YEAR and pay $110k fine. WTF?!
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Real estate historical sales data being hidden on HouseSigma.
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@Light_B8
This bothered me too, LOL. Unless you only live alone or with your significant other, this place is a nightmare for taking a bath, lol.
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“What?? No, no, the housing market is just fine. Those pre-con fires are a normal hazard of the business. Lightening and occasional electrical issues. There’s no arson by buyers. Don’t be ridiculous. They’re just as upset about not closing.”
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“Don’t list your condo right now. Wait till the Bank of Canada cuts rates at least once or twice.” LOL WHAT?!?!
I told y’all to sell and stay out, but realtors kept saying now is the best time to buy! Look how their tune has changed - “Right now is not the time to list” 🤣
If
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The shortage was definitely artificial. Hoarding and extorting was the name of the game, but all of that is about to change. Slowly then suddenly.
Now that holding housing is a net liability....
youre about to find out there was never a housing shortage.
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Why stay in Canada when you can move some place warm and pay less taxes? Not like you can get a doctor when you need one here anyway.
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“You do realize that rent is 100% commission, right?”
“Even at 8%, you’re getting a 92% discount”
Lmfao, WHAT?!?!
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Everyone is in the soft landing / no recession camp now. But, historically speaking, it rarely ends up that way.
I see inflation picking up again and further hikes to squash it will also hammer the economy.
Contraction should begin Q4 ’23-Q1 ’24. Hard landing mid to late 2024.
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@Widdershins321
@RobDance_
I wouldn’t hire you. Your ability to read through an entire message is sorely lacking.
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As with all investments, there are inherent risks, which are generally considered prior to entering a position, but are often overlooked, or even mocked during times of mania. This realization will soon hit the market like a ton of bricks, as investors panic sell… 4/5
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and run to the exits. Hopefully, a lesson will be learned, and future investors will consider keeping a margin of safety for the unexpected, and be more level-headed when valuing and offering a price to purchase an asset, especially when using debt to do so. 5/5
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@stockxsucks
@Smartnetworth1
A review from a Texan re: Hometown b”Bbq, btw. If you’re ever there, give it a shot.
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8 mins of me babbling about Canadian Real Estate back in July 2023.
We’re starting to see now what I predicted back then, especially in the condo market, and soon it’ll spread to the rest of the real estate market.
The race to the exits is just beginning, but seller psychology
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@CanIndian_Bro
@ManyBeenRinsed
@RishiKBakshi
@agentgina1
@Tablesalt13
@ShaziGoalie
@geoeconomic10
$800 maintenance fee? Lmaooo
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excess built-up demand. Up until recently, interest rate hikes were passed on to tenants, and end-users also sacrificed their quality of life, giving up wants for basic needs. However, we’ve reached a breaking point, as evidenced by tenants fed up with the situation, and… 2/5
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@agentgina1
LMFAO. Most realtor vids make me cringe, but this right here? I was dyinggg!! 😂 Finally, a realtor with a personality and sense of humour.
Would hire this guy in a heartbeat.
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🇨🇦 Doug Ford: please lower rates BoC, they’re too high, and our economy is suffering.
🇺🇸 USA: interest rates are TOO LOW. Speculative assets are skyrocketing, and borrowers are chomping at the bit to lock them in. Core inflation is rising again. We see RATES GOING MUCH HIGHER.
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fighting back. With no where else to turn, landlords are now paying out of pocket for carrying costs once seemingly effortless to cover by their investment. This bleeding cash flow has landlords now rethinking their investments, looking to dump cash flow negative properties. 3/5
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Canadian real estate: the greatest Ponzi scheme in Canadian history.
🫡🇨🇦
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@Tablesalt13
The shortage was definitely artificial. Hoarding and extorting was the name of the game.
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@QuiverQuant
Can you guys make an inverse Portnoy tracker, just like your inverse Cramer tracker? lol
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@askalexandrovna
Wide open windows so you don’t die from claustrophobia? LOL
Maybe the future buyer is an exhibitionist 😂
No doors for the bathroom either, from what I can tell.
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@JackOCrypto
@gurgavin
Yeah buddy, no shit the Cybertruck doesn’t need to crumple when it hits a car with a fraction of the mass. That’s not what I was arguing against to begin with. My argument is directed towards the OP and those replying that they should buy a Cybertruck simply because it would
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Breaking news: condos are still fucked.
Listings are going to explode on this announcement, just watch.
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Are the investors who stated their multiple properties were primary residences, to avoid paying capital gains taxes, suddenly going to claim these were actually investment properties, when forced to sell at a loss, and record the capital loss to write off future capital gains?
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My dude, it sounds like you’re the one who’s confused… this is what a market peak looks like. Stand-off between buyers and sellers, waiting for the other side to flinch first. Buyers are going to win out once sellers start to capitulate rather than face higher renewal rates.
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What price level are they selling at where they can afford to give you a “free” car, make commission on the sale, and yet still have enough money to pay the builder?
When the gimmicks start, stay far, far away.
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@BetterDwelling
Landlords are gouging tenants in a bid to stay cash flow positive or at least break even / reduce the bleeding.
The only way out of this mess is to continue hiking until landlords give up and sell off properties, and unemployment rises. Then affordability will return.
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I’m getting tired of repeating myself.
NEW CONDO SALES IN TORONTO (GTHA) ARE DOWN 66% YoY TO A NEW 27 YEAR LOW PER BLOOMBERG
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Today is my best friend’s birthday. Our birthdays are less than a week apart, so we always celebrated together.
And while I’ll be celebrating with him again this year, he won’t be turning another year older with me. He won’t be there to raise a glass, and make some goofy jokes.
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@CanIndian_Bro
@Tablesalt13
@therealhebrahim
@ManyBeenRinsed
@geoeconomic10
@StraightFromDan
@agentgina1
@Bratt_world
@ShaziGoalie
Can’t seem to read the number. Can you please repost with contact info? 🤪
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Leading recession indicator flashing red 🚨🚨🚨. Brace for hard landing.
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@Stuffhappenwhen
@vannyspaces
@gurgavin
Yes, you are correct. Everyone in the comments, however, is under the belief that no crumple zones whatsoever is safest.
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@alandail
@bopalmer30
@gurgavin
Yes, you are correct, it does, or it wouldn’t pass safety regulations in a lot of countries, lol.
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@QuiverQuant
Probably to keep up appearances that she’s not a trading superstar, with insider info.
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@daniel_foch
$1.45m is still ridiculous for a 38’ detached in Brampton. CAD has been destroyed.
$2m is absolutely bananas. What was the buyer (now seller) thinking?
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What a beautiful chart showing us the “supply issues plaguing the housing market”. Let’s see how much longer that story lasts, lol.
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$7.5 million in mortgages at 25% interest. This is a COMPLETELY NORMAL mortgage amount for a registered nurse who can clearly afford it with their salary of…
*checks notes*
…$111K.
A little more detailed on this one... owned by a registered nurse who made $111,000 in 2022...
Properties have a $7.5 million, 25% interest rate mortgage... which is set to mature in November 2024...
Owner also has a 3rd house..
Welcome to the Vancouver real estate market...
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Wing Stop. Heartland. Mississauga Ontario.
Are they giving away free chicken wings or something? I don’t get it, they’re just wings, lol
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@CamCassidy
Remember when I waxed poetic about this scenario playing out on one of your spaces,
@daniel_foch
?
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He won’t be there with his infectious smile and laughter. He’s gone, but he’ll never be forgotten.
I miss you brother. 💔
To all those who’ve lost a significant person in their lives, whose memory brings both a smile and tears, I raise a toast to you.
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Canadian banks trading at 52 week lows this morning. Nature is healing 🥰
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@stockxsucks
@Smartnetworth1
Couple more. I’m sure though the real deal from Texas is better, but these guys are good too.
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The video below sums up this country nicely.
Canada isn’t the juggernaut we think we are. Us Canadians are delusional about our economy, and our level of importance in the world. We don’t innovate and build stuff (other than real estate, but you can’t
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Oh really? RE Prices are on the cusp of exploding? Tell me more 😂😂😂
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