Toronto Housing Market Sees Biggest Drop In 30 YEARS! – The Bubble Is BURSTING!

Josh Sigurdson talks with author and economic analyst John Sneisen about the crashing Toronto real estate market as house prices drop harder than they have in 30 years.
March sales in Toronto dropped 40% from last year, the lowest since 2009. The average selling price for all homes dropped 14% from a year earlier, the biggest drop since 1991.
Detached home prices dropped the most which is notable as condo sales are the only thing that has gone up. There’s a reason for that. People can’t afford the detached homes anymore, but they are largely downgrading to condos.
The Toronto Real Estate board in a recent report said,
“The share of high-end detached homes selling for over $2 million in March 2018 was half of what was reported in March 2017, further impacting the average selling price.”
To top it all off, active listings went up 103.1% since March of 2017. That is a massive rise in homes for sale, a recipe for disaster.

We’ve been warning about this for a long time. We remember well the euphoria of people in Toronto telling us it would just keep going up forever. The bubble was growing larger and larger. People were looking at their house as an asset. Their eyes became glassy and the hockey stick reached its peak and now we see a massive drop out. We will soon see similar in Vancouver. We reported on BMO’s collateralized debt obligations which many of us remember from 2006 and 2007 before the bubble burst.
Collateralized debt obligations (CDOs) are packages of a bunch of mortgages, mostly bad mortgages with a few good mortgages. The package is rated by the top few good mortgages, often triple A. That is insane.
The level of derivatives manipulating the markets into temporary prosperity will burst the bubble and cause long term pain.

We need to be self sustainable and not fall for the fake speculation.

Stay tuned for more on this story from WAM!

Video edited by Josh Sigurdson

Featuring:
Josh Sigurdson
John Sneisen

Graphics by Bryan Foerster and Josh Sigurdson

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2018

“Find the truth, be the change!”

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29 Comments

  • C K
    Reply

    have you guys ever looked into how mike cernovich gained so much fame so fast?
    i think it has to do with a massive twitter following using their own analytics to his advantage

  • Derek Simenac
    Reply

    NOTE Toronto is not all of Canada, Ottawa still climbinghttp://ottawacitizen.com/news/local-news/ottawa-house-prices-climb-in-march-condos-not-so-much

  • jony fish
    Reply

    If we are really close to world war with China/Russia….. If the West does Crash it’s own real estate Market, this will be the WARNING SIGN that a World War is about to start…

  • eurosensazion
    Reply

    Anybody buying in Vancouver or Toronto for me in the detached homes over $1.5 million for me is dumb. The higher priced homes will come down faster and reach levels close to those sitting at $1million currently. Not every one is a foreign buyer. People are stretched and dumb. A 3200sq ft home 3 years old in Richmond Hill is selling for $2.5million in my area. Drive 20mins to King City my friend bought a 5500 sq ft home on 1.5 acres for similar price.

  • jony fish
    Reply

    The US/The West/Imperialists DEBT to China is nothing more than price of admission for China into this GAME that’s been going on since THE DAM ROMAN DAYS!!!! China WILL NEVER get Back that Entree fee…..LMAO. Fundamentally speaking the stock market is a SCAM!!

  • Smufter16
    Reply

    RE Bubble 2.0 10x worse than RE Bubble 1.0 (2008). Pass the POPcorn and POP!!!
    And it should be illegal for non-citizens to own property (hello China).

  • Massimo Mandarino
    Reply

    Poor Canada….a homo for a Prime Minister and a Fucking carpet muncher for a premier….
    Poor Canada

  • Todd Krough
    Reply

    Hi Josh, Hi John 🙂 Uff Da. What’s going on? My Great Grand Mother Millie Holland came over from Norway to America when she was 9 years old. I am 87 % Norweigian, followed by Irish, Basque, Italian and Greek and British. I’m mixed. Rh Negative blood same as the Cherokee same as the Basque. Whatever that means. I’m still learning more about that. John has red hair, my cousin Bruce Holland has red too. I got redish blonde hair. I can’t stand it when it turns red so sometimes i dye it to make it look more blonde but only when i have a tan to go with it otherwise forget it. I haven’t dyed my hair in over ten years. Oh there you are i found youse on Steemit. and i re-steemed this post.

  • vupti hansen
    Reply

    Very soon there will be no more sleepers in the world, and they are gonna buy some of my crypto and Silver

  • Rodney King
    Reply

    AS A RESULT OF CRASHING TORONTO HOME PRICES, ONTARIO”S INEPT PREMIER SHOULD INSTRUCT MPAC(MUNICIPAL PROPERTY ASSESSMENT CORP) TO REDUCE HOME VALUATION FIGURES AS HOUSES ARE DROPPING IN VALUE,SO OVERZEAOUS PROPERTY TAXES SHOULD BE FALLING.. THEN THE NEXT GOVERNMENT SHOULD SCRAP MPAC ALL TOGETHER. MPAC IS STEALING FROM TAXPAYERS.

  • Charles Ponzi
    Reply

    Prof. Werner brilliantly explains how the banking system and financial sector really work. https://www.youtube.com/watch?v=EC0G7pY4wRE

    Richard Werner: How to solve a Bank crisis without tax money? Japan1945-47 Japan 92; UK 1914;Iceland https://www.youtube.com/watch?v=byQZuIZ92PQ

    Richard Werner: Lower Interest Rates do not stimulate the economy, quantity of credit does. https://www.youtube.com/watch?v=zp-oomyars4

    Princes of the Yen: Central Bank Truth Documentary https://www.youtube.com/watch?v=p5Ac7ap_MAY&t=1033s

  • armynorb
    Reply

    We need a BIGGER drop in real estate to adjust it to where it should be…. MUCH BIGGER! Maybe real estate is going the way of the old Tulip Bulb Economy/ Tulipmania of the Netherlands back in the 1600s… after all, it is ONLY real estate…

  • Peter Oitzinger
    Reply

    Saddle up. This ride of the debt slaves is gonna get Krazy. Once people start defaulting en Masse it’s on like donkey Kong.

  • TeacherPhilEnglish
    Reply

    They will let in 450 million immigrants and force them to live in Toronto. Mortgages at minus 50 % interest rates for every person including babies. Actually each baby gets 10 mortgages each. No job no income no assets no problem. A ban on new housing construction. Universal basic income $400,000 per person. Golden Lambos hodl for all.

  • Ralph Mundo
    Reply

    Canadian men have been swamped by Feminists,….most men now have no balls like Trudeau.
    If that piece of shit Feminist poof is voted in again then you Canadians deserve to perish as
    you most certainly will.
    If you want to survive into the future then burn down all Feminist strongholds starting in your
    College & Education systems.

  • master mind
    Reply

    the globalists are taking advantage of the good citizens ! These monsters are always trying to put their hands in our pockets and we are stuck PAYING !This might end badly , causing a civil war ! How can we continue to afford living today ? Very scary for our kids in the future !

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