In this video, we go through a shocking article that a subscriber sent me. This absolutely disgusted me when I read it and just goes to show how bad the housing crisis is. We go through some of the stories associated with this article and dive into the reasons why this has happened. It is about rising rents and the crisis it is creating.

Here in 2022 with inflation rising and a recession on the horizon the housing market and debt market is anything but stable. 2021 was the year of mania and FOMO and 2022 is the year of denial and the normalcy bias. All this denial is causing issues for the rental market. In Toronto, people are literally going homeless because of it and that is what we discuss here.

Real Estate is cyclical and patterns tend to repeat as the market is really a market of emotions of both sellers and buyers exactly like every other asset class. Real Estate however has even more emotion due to the fact nearly everyone is using a form of leverage.

In 2007 in New York City rents hit an all-time high. It took 5 years for rents to hit all-time highs again. There are certain dynamics that mean rents lag and increase during the end phase of a housing bubble and debt crisis.

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0:00 - SHOCKING
1:23 - Students living in homeless shelters.
1:40 - Liberal dystopia
2:10 - Why?
4:20 - Youth homeless shelter
5:00 - Happening in 2019
6:00 - Clients sold 20% of inventory
7:00 - Costs so high
7:30 - Rents go down
7:45 - Rents in 2007
8:20 - What will create some new supply?
9:20 - Emotional market
10:20 - Nothing fundamental all emotions
12:30 - Why aren't they supplying their own accommodations?
13:30 - Superchat
14:13 - Toronto and Vancouver tightest markets in the country
15:30 - Student visa loophole
16:39 - 100bps hike possible
18:20 - Bond futures market wrong about 75bps hike
19:00 - Rents rising vs landlord costs in Toronto
20:00 - Condo fees
21:11 - Mayor 🤡
22:10 - Why supply has been choked up
23:20 - Boomers are in denial
25:00 - What causes this?
26:00 - People living in their own world
27:00 - Michael Burry
27:30 - Insure yourself
28:10 - Diversification is key
28:50 - Cheap vs value
29:20 - Why?
29:50 - Emotions
30:50 - Niagara effect
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