CMHC Predicts Housing Plunge of 50 Per Cent!? Maybe not! | The Golfi Real Estate Show - Hamilton Edition (Feb. 6)

On this week's Hamilton edition of The Golfi Real Estate Show, Rob Golfi, Phil Golfi and CHML host Rick Zamperin talk about the unbelievable numbers the market saw in January 2021 along with a complete breakdown, and CMHC's housing plunge prediction of 50 per cent and why it might be way off like their 2020 predictions were.



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Transcript

good morning, Hamilton. This is Rob Golfi with the Golfi team. Welcome to the Golfi real estate show Hamilton edition with host Rick San Fran. Yes, Rob belfi.com is the website you want to go to for the hottest listings in town called Hamilton and Burlington's number one Remax team in volume and unit sales at (905) 575-7700.

Check out the golf team on. Instagram, Facebook and Twitter. And if you have a question or a topic idea for a future program, send them an email questions@robGolfi.com. It's 900 CHML it's the gulpy real estate show Hamilton edition. Rob, another fantastic year is in the books. January is just as hot as 2020.

Unbelievable. The numbers I've got here, Rick is incredible. Um, and, and not, and I want to go through each area right from Hamilton Haultain into the ag region. And so would you, so what I'll do is I'm going to start off with Hamilton and then Burlington, and then we'll, we'll break it down into smaller areas.

So, if you look, if you look at Hamilton they sold 486 homes. Total of all Hamilton that's including a water down and all the surrounding areas, Stony Creek. And then last year in January was 506. So we're down in unit numbers 4% of unit sales. But you're not going to believe this 29% up from last year.

Last year in 2020, the average sale price in Hamilton was $561,527 this year, ladies and gentlemen, are you ready? It is 722,628, 29%. Increase incredible. Like this is unheard of think about it. Nobody gets a return like that. It takes 20 years sometimes to get a return like that, but we're going to be talking about what's going to happen.

Even after that. Now in Burlington, Burlington, we've got 30% up in unit numbers. That's incredible. They sold 180. Seven homes in Burlington in January last year was 143. So they're up, but, but also they're up by 18% in average sale price. Last year, 832,677. This year $982,519. Unbelievable. Almost a million dollars.

They're going to hit in Burlington soon for the average sell price. That's incredible. 18% plus. So now let's break it down to Hamilton West. Now in the West Hamilton, they're up 56% in unit sales. They went from 44 to 69 year over year, and they're up 7% average in Hamilton West. The reason why they're up.

Just a little bit in Hamilton West, cause they're already at almost hitting a peak moment, peak price point there. So last year, the average price in Hamilton West was 560,884. This year, 640,000. Sorry, this year 604,278. In 2021 only 7.7% increase in average sale price. And then we go to Hamilton, East Hamilton, East they're down in unit sales, which is that's why houses, prices are going up.

But look 52 sales this year in January 57 last year in January. The average sale price last year in Hamilton, East was $437,857. This year, 590,364. Plus 34.8% average sell price year over year Hamilton East. Great. That was a great investment. If anybody bought last year, they did, they did well now Hamilton central.

Now that's this area here. It's getting pretty close to peak moment, but they still had good strong numbers.  81 sales last year, sorry, 81 sales this year in January and Hamilton central 62 last year. So they're up 30% in unit numbers. This year in average sale price last year, 417,685. That was 2020 January.

This year, January 484,647 plus 16% in Hamilton central. So they didn't have as good as. At Hamilton East, but they still, they had a lot more inventory to sell. So maybe that's why it was only 16%. Now we're going Hamilton mountain. Now Hamilton mountain is like, I've always said Rick is always been a great area.

Now that one they're in sales for January of this year, 98 and last year was 116. So they're down 15% in unit numbers, but they're up 34.8%. Can you believe that? On a Hamilton mountain last year in January five, the average sale price in January, 2020 520,239. This year, drum roll. We should have a drum roll, 701,000.

And $32, 2021 Hamilton mountain 34.8% increase on believable. Unbelievable. Now we got Flamborough Flamborough you know what? They're minus 54%, not that many sales, but they're up 94% now. Flamborough. You know, it just depends on the year. It depends on the month. If they get a couple of big sales that brings the average sale price up.

So there w I did see a couple of big sales in Flamborough the average sale price this year in January for Flamborough was 1.4 million last year was 722. You know what? You can't go by these stats, especially in Flamborough. Cause he got a couple of big, giant properties that sold. And there's not that much inventory there.

And not that many properties that sold, especially if it's under 10. So, but anyway, there was a couple of big ones that sold in Flamborough. So maybe next month it will average out. Dundas Dundas 22 sold  in January 16 last year in January, but in the average sale price last year in January of Dundas, 646,848, this year 770,839 19% increase in average sell price and Dunn DAS dun DAS is a great little town.

I love it. It's beautiful. They're just walking downtown and caster up 40. 4%. How the heck is that happening in an caster? Who's buying everything there. There was only 32 sales last month in January 44 in 2020. So they're down in unit numbers by 27%. But look at this and caster, beat Burlington in average, sell price.

1.1 million and 7,000 is the average sale price in an caster. Last year in January 765,607. I bet you, those people that moved the Ancaster they're really happy now. Plus 44% boy, they really did well there. I wish I'd bought Lancaster Stony Creek 73 sales last month and last year was 93. So they're down 21%.

The average sale price in Stony Creek. And this is including upper and lower Stony Creek is $812,054. This year, last year was 591. They're up 37%. Notice how Ann caster and Hamilton mountain in Stony Creek had big, strong numbers. Rick, incredible, incredible. And then we'd go to Glenbrook Glenbrook, another one.

Wow. 22 sales in January of this year, 27 last year in January, 2020. And then in average sale price. Let's look at this one. Unbelievable. Another Ann caster, a hero here. 500. The average sell price last year in January in Glenbrook 580,600 S sorry, 580,000. This year, $826,702 42% 42.5% increase in average from year over year.

Holy smokes. We go to Grimsby. Grimsby we have there was 37 sales, 28 last year in 2020. Now this year the average sale price in Grimsby was 744,912. Last year. It was 602,418 23%. Increased 23.7% to be accurate. So is just still, still smoking away there. And that's awesome. Smith did a little village of Smithfield, a lot of developments going on in Smithville.

You're going to, you're going to see Smithville growing, grow and grow. There's a lot of land up there.  They've been putting new sewer lines constantly up, going to Swartz Smithville. They were up 16% in unit numbers. And, and then the average sale price in Smithville right now, 719,143 last year was 448, but there hasn't been that many sales, but it's up 60%.

I don't count. Smithfield's like a Flamborough area we have to see and wait and see how that goes. But they're still up quite a bit. Um, and then I also got some stats in in Niagara. So I'm going to give a couple of major cities in NA Nagra. So in Agra falls in 2020 98, sales were happening in 2021, 108 sales.

So they're up almost 50. No, that's wrong. That the last year's price is 429,739. This year 600. 45,000 unbelievable increase. I got my numbers mixed up here. They're not correct. Over here. I got 50%, I think in Niagara, on the Lake. Unbelievable. Last year, average sale price in January is 881,593, a million.

Now Niagara Lake has a lot of high-end homes. It just depends on a month if they sold average sale prices or not. So that, that, that goes up and down in Niagara and Lake St. Catherine's. Last year, the average sale price was 450, 3,414. This year, 595,000. It shows a 30% increase. And then Welland, I can't believe Welland day.

They, they just they're. They're coming out of nowhere. That's like field it's like the little sleepy giant just woke up a well in last year. The average sale price in wellness, $368,066. This year, 533,368 45% increase. Rick. I said that pretty quick. Didn't I? So, anyway, so I was trying to get that in, in, in less than a less than 12 minutes, Rick.

Crazy, crazy market. Anyway, take it buddy. It's all yours. Yeah. Hey, listen.  Crazy as it is one word for the Niagara region, some of the communities that you identified overall, we're looking at a price hike of about 24% from 571,000 in January of 2022, 700, 10,000 in January of 2021 year over year, and then Agra area.

 We do have a take do have to take a quick break, but when we come back, I do want to dig a little deeper on some of the areas in Hamilton and some of the mind-boggling eye-popping numbers that you just released to us. And we'll also talk about sales to new listings in places like Hamilton and Burlington.

And we got a lot to talk about today, including. CMHC once again. I mean, they got it so wrong in 2020 in terms of what the housing market was going to do. They're predicting yet another plunge in real estate this year and probably going to be wrong again. But we'll dive into that. When we come back here on the Golfi real estate show, Hamilton edition on 900 CHML.

Welcome back. This is the Gulf, the real estate show Hamilton addition on 900. CHML. My name is Roxanne Brin along the line is Rob Belfi sales representative with Remax is Gartman Realty. The Golfi team. You can find the hottest listings in Hamilton and Burlington. And boy, I tell ya they are red hot they're flying off the shelves.

Rob Golfi.com is the website that's Rob G O L F i.com. Call Hamilton and Burlington's number one Remax team in volume and unit sales. Oh five five seven five 7,700. That's not Oh five five seven five seven seven. Check out the Golfi team on Instagram, Facebook, and Twitter. The handle is at Rob gulpy.

And if you have a topic idea or a question for the golf team, send them an email questions@robGolfi.com that's  questions. At RobGolfi.com after getting it so wrong in 2020, CNHC predicting another plunge in real estate this year. We'll get to that in a matter of minutes, but I wanna dive a little deeper into some of the wilds, as you said, crazy numbers in the Hamilton, Burlington, and even Niagara region.

So for Hamilton, Burlington overall in January of 2021, 825 homes were sold according to the realtors association of Hamilton. Burlington. Now that number is actually down. 9.6% over December. And that, that shows you how wild and wacky December was. But year over year, January the January.  Sales increased 6.9% and even more important was the average selling price.

It jumped 7.9% from December to January and from January to January, it spiked nearly 28%. The average price in the region. $787,000. Um, interesting. Couple of quotes from realtors association of Hamilton, Burlington, president Donna backer, who says our sales to listings ratio. And we're going to get to that in a matter of seconds.

Or sales to listing listings ratio of 81.6%. Second, only to January, 2017 tells us that the Rab market is firmly in a sellers market. And here's an interesting quote. Many homeowners may not be interested in, or even able to move their households due to the pandemic, adding to our inventory woes. So that's sales to listing ratio.

May get even more extended as this year, drags on. Absolutely. If you look at it, if like if you're looking here with the Hamilton it's a sales to new listings. So last in December of 2020, you should see you've got the numbers here for Hamilton that's including surrounding areas. So there was 597 sales in December.

472 houses were listed, more houses have sold than there were listed. So all the rent of the litters got sold us. So with that, so if you got some bad properties out there, you're thinking that that are not sellable or you think you're going to lose money. This is the time to sell look at. And then in January 546 homes that sold in, in total of the Hamilton surrounding areas, 678 were listed.

So it's starting to climb back up again a little bit, but but again, CMHC, I, I I think they're right, because there is a lot of people, especially seniors. They're, they're worried that they're, they're, they're migrate like not migrant they're they're hibernating inside their houses and they're not doing anything until this is over.

They are. And they probably were planning on selling last year. So there's a lot of homes that were going to go up for sale that aren't going for sale. So the ones that do go for sale are, are like, they're go there. They're going. Off the shelf. Now we just had, we just had one here just today. We had, we were holding offers till next week.

Rick agent came in $160,000 above asking. So we go to our clients say, listen, did you want to wait until Monday to deal with the offers? Do you want to take this guy? Do you want to, you want to work with this? And I, and they'd go. We want to take this offer like 160,000. So w when, when you're talking about preemptive, you meaning like this guy's coming to the plate, plus he's probably going to.

Further to make sure he gets it. Cause he's probably lost though on so many properties on multiple offers. So he is now going, listen, you want this house, you're going to have to go in hard and you're going to have to go in aggressive. So they went in 160,000 above asking and we said, and we said to this agent, Hey buddy, you want this house?

You better have a bank draft or certified check in our hands be otherwise we're not taking it. So we're getting a $40,000 bank draft. And then we'll, and then we'll take his offer, but otherwise we're not going to do that. Cause we're not going to want to wait until, you know next day and then they have buyer's remorse.

So we're working on that, getting that deal done right now as we speak. So I know it's just crazy.  Rick has just it's like, it's like, it's like, you're on this, like the, the auto bond in, in Europe and this road is flying and it's going and you gotta keep up. If you don't, you got to put nitrous oxide in your ancient boy, cause you.

You're going to need it to, to, to work and play in this market. I want to talk about sales to new listings in Burlington and, and even Niagara. So in Burlington, the number of sales in December, 2020, 177, there was a 139 new listings in January. There was 195 homes sold. New listings came in at two 27. And for Niagara, December 20, 2,700 homes sold 526 listings.

 In that month and in January 650, one homes were sold 813 new listings coming on the market. So while the new listings in December were lower, obviously than sales, a lot more homes now as 2021 is the turn of the calendar has come upon us. And there are a lot more homes now heating the market are those from buyers who were kind of.

Hominid Han in the fall and thought, okay, in the new year, let's put her house up for sale. Absolutely. A lot of people were waiting for the new year to put their house up for sale because of the holiday season. Um, they just they just didn't want to deal with it back back then. So there was such a shortage of houses going up for sale, but the buyers were still out there.

Um, so you have to understand Rick there's 50 to a hundred people showing up. Every house. So especially if it's under 700,000, if you got a host, it's under 700,000, you're going to get a hundred people showing up, tells us only one person is going to get that house only one of the a hundred. So that means there's another 99 people that's looking in that immediate area for a house.

So the next house was up for sale. You got 99 people showing up and then, then you got new buyers coming into the marketplace. It just continuing to go.

I highlighted 10 areas in the Hamilton burning to an area in terms of the residential market activity. And you gave all the stats in terms of number of sales from January, 2022, January, 2021. And the percentage increases in all 10 of those areas, Hamilton West East center, mountain Dundas and caster.

Waterdown Stony Creek, both upper and lower. Burlington and Grimsby the price all went up and it just didn't go up marginally, as you mentioned, the lowest price increase year over year was $44,000 in Hamilton West.  There was one, two, three, four, five, six, seven, eight, so eight of the 10 80% of those areas had a price increase in the six figures.

Three of them and you could probably toss him the mountain, cause they're only a thousand dollars off. Four of them really were over $200,000 in price difference year over year in Burlington or pardon me and caster was $342,000 more expensive in January, 2021 compared to January, 2020, the price increase.

If you invested in a home a year ago, went up in those areas like a mushroom cloud. No. Put your, your Kreskin cap on now look into your crystal ball a year from now. Are we expecting the same kind of increase Rick, remember reading about the roaring twenties in the 1920s? That's what's going to happen.

We're going to have the roaring twenties. We're going to have the biggest economic boom. You're not going to believe because once. This pandemic is over with. People are going to want to go to restaurants. People are going to buy things. People are going to start buying clothes. They haven't bought really clothes to go to work or anything.

We're going to have such an economic boom. It's just, and it's not going to stop for a while. People are going to travel everywhere. People want to get out. People want to do things. It is going to be crazy once this pandemic is over and it could happen the end of this year, but we're going to have history.

It's going to repeat itself. Remember in 1918. 19 1918, 19, 19. Um, the, there was no eight. Yeah.  There was the Spanish flu pandemic. Then they had the roaring twenties. Well guess what? It's like a hundred years later, it's like, it's almost almost repeating it. So, I mean, like they didn't have the technology and and w  the understanding of what was happening back there a hundred years ago, because I mean, today information is instant.

Instant, but, but there is going to be an economic boom.  There's two things that's going to happen. There's going to be not only an economic boom from people looking at buying and doing things, but there's the the, the, the transfer of wealth from the baby boomers that are dying and passing their generational wealth down to the next generation.

They're going to be spending money and the next generation. They spend money. They don't, they're not like our parents' generation. Like my parents, you know, they're in their eighties, they don't spend money. They, they they're waiting for that rainy day with, if they need to spend it, they save it till, you know, they're saving for their kids almost.

But the thing is. There's going to be an economic boom, if it's and it's and it's just going to continue. So if the housing prices slow down and flat line, no problem. Guess what it's going to it'll continue again. It will bounce, bounce back. There might be, but I still see it. Flatlining  eventually it will flatline and that's fine.

That gives us a breather, but it's going to go up. It's going to continue. From what we've heard and read. And at least in some small sample size of video footage, the roaring twenties seemed like a lot of fun. And I'm all for a repeat of that. As long as we can sidestep the thirties, because we only have that.

Yes, yes. The thirties, but we're a lot smarter now than we were back in the 1930s. I hope.  Average days on market. I want to highlight this in Hamilton in January of 2020, the average days on market was 35.7 days. So just over a month in January of 2021, the average days on market was 20.2. That's a big change.

It is a huge, and then it'll start climbing back up to probably a 30. It just depends on the inventory. Totally depends on inventory. Like, like I said, I was just telling you earlier that we had that one guy he's coming in at 160,000 over asking on a house. Um, we were, we were holding offers, but we didn't expect that kind of number and he's come up to the plate.

He knows his clients need a house. And you know, the only way they're going to get it is they're going to have to step up to the plate. So it so days on market will probably extend a little bit. Just depends on how many people want to put their house up for sale. You can listen to our show online through Spotify, iTunes, Google podcasts, Stitcher, and many more.

Just search for the gulpy real estate show on your favorite podcast platform and hit the follow button. So you never miss an episode. Call Hamilton and Burlington's number one Remax team in volume and unit sales at nine Oh five. Five seven five 7,700 online, the website coffee.com. That's Rob G O L F i.com.

Don't forget golf. It gets it sold and they do so in a safe manner during the COVID 19 pandemic. Check them out on Instagram, Twitter, and Facebook. And if you have a question or a topic idea for a future program, send them an email questions@robGolfi.com. That's  questions@roGolfi.com, Canada mortgage and housing corporation saying that Canadian housing prices.

Could plunge almost 50%. If we have a double dip w shaped COVID 19 recession and governments don't provide enough financial support to survive the pandemic. That means a drop of roughly 14% in home values. Now let's remind everyone that last may CMHC predicted Canadian housing prices would tumble by up to 18% within a year.

In fact housing prices across Canada actually went up 17% from December, 2019 to December, 2020. And we have at the executive director of Queens university real estate round table, his name is John. Andrew says that who's been hardest hit by this recession, younger people and many lower income people.

A lot of whom are in the service industry. And a lot of those people don't have mortgages because they don't. Owned their homes. So the numbers from CMHC. No, they look diner, but they're not really looking at those who are not able to afford the homes. Those are the people who have lost their jobs and can't find work.

Yeah. I, I could see them seeing that. And they're probably looking at the numbers from 2017. Now it's almost like a repeat, but this is a lot longer, 2000 in 2016, from January to the end of may, the market was just insane. It just, you know, what, and you had was it four or five months of insane insanity of the market in, in 2006?

 16, 2017. Um, it went from probably, you know, February to the third week of April, middle of April now. And then after then after 2017, that, that was the height. That was the, like, that was. Like when you hit the tip the ceiling and at the end, you know, March and April of 2017, and then things got settled, things had to, you know, the dust settled a bit.

Yeah. The housing prices did kind of settle down a bit. And, but then towards the end of the year, they start it, then it flatlined. And then, then guess what? 2018, it started slowly climbing back back. So anybody that bought in 2017, they, they got their money. Like if they paid a lot, they were there within 18 months.

Their house values were more than what they paid in 2017. So sometimes some people thought they paid too much. Guess what? There they were back. The same thing may happen here. And that's why they're, that's why they're predicting the same thing they're saying. Well, the housing prices are going 30, 40% in certain, certain areas and they think there's going to be.

An adjustment of 12 to 15%. Um, it it's, you don't want, they're just going by history. They're, they're, they're predicting by history, but like I said, we're gonna, we're, there's gonna be a big economic boom after this pandemics over. And, and yet, like I said, we're, we may flatline with our, with our housing prices.

It will flatline. So, so I still think you know, if you can get yourself a real estate, again, it will double in 10 years. There is some collateral damage to what the CMHC does put out there. And I do want to ask you about that. When we come back here on the Golfi real estate show Hamilton edition on 900.

CHML. Welcome back. This is the Golfi real estate shell on 900. CHML my name's Roxanne chatting. Once again, with Rob Golfi sales representative with Remax who's Scarman Realty, the gulpy team, you can find them online@robGolfi.com. The hottest listings in town are online@robgolfi.com. Call Hamilton and Burlington's number one, Remax team and volume.

And unit sales at (905) 575-7700. That's (905) 575-7700. They're all over social media via Facebook, Twitter, or Instagram. The handle is at Rob Gulf. We have a question or a topic idea for the golf team. Send them an email questions@romGolfi.com. That's  questions at RobGolfi. Dot com diving back into the latest report from CMHC saying that the Canadian housing market could see a 14% plunge.

And I mentioned just before the break, the issue of collateral damage, if people have saved up for a down payment and then they see, you know, CMHC, which is a crown corporation here in Canada, come up with predictions like that. They might choose to be a little hesitant and might wait a year or two or three.

And. In that time, the prices of homes have gone up and now it's even harder to get in. Those homes are now more or less affordable. It, it is. It's, it's something that there are people sitting back and waiting. I understand that. And, and, and seeing what, you know, how the market's gonna settle down, like settle in and see what happens.

But, but, but we we've been waiting for that since 19. Sorry. Yeah, 1998. Like, I mean, like we've had, like, I remember the 1990 recession. I was like, I was like 21 years old. And and it was like, like Rick and I had a business and it was tough. It was really tough. And and, and interest rates were at 13% and 13, 14.

I had investment properties. Things were really, really tough. But we haven't, but, and then the, and then the price is actually, we're, we're kind of stagnant for a good three, four years, maybe even longer in the early nineties, like they did a drop and then they settled a bit. And then they started climbing back up in the late 1990s.

And then as soon as 2000 hit, so we're going, we're talking. 2000 we're talking 21 years later, 20 years later, we haven't really, you know, there was a little recession in 2008, nine, but we really didn't feel it in Canada. Um, so for 20 years we've had constant growth of real estate. And then we felt that in 2000 and, and 20, no, sorry to 1999, 2001, two, three or four, we thought housing prices were expensive there.

But look at where we are now. It just kept climbing and climbing and it just, the world is changing. It's fast today.  Rick and, and yes, we look at history, but we also were we're smarter than we are in history. And the reason why this pandemic. There is a lot of money out there and a lot of people are getting help out there.

That's why we're, we're cruising through this this pandemic, you know, we're waiting for the, you know, the vaccine and, you know, hopefully this is going to be over by mid to the end of this year. And then we're back on track. We're back to normal economic thing. And that's like, I, you know, I don't see.

I don't see an economic downturn for awhile. And if you're, you know, and again, we could be wrong, we could be wrong, but nobody thought this was going to happen. Everybody thought there was going to be a downturn with a pandemic, but look, there was a boom and and I still think there's going to be another boom after this pandemic is over with.

So you know what, you can't go wrong owning real estate, just buy it. And then you'll, you'll make it up. If, if you think you're too high, you'll make it up in a year or two, and then you're back on track. So. There's a great article online. The headline Barry is now one of Ontario's most sought after real estate markets.

 This is according to Remax, it offers homes at half the price than what you would find in the GTA where the average home price there is 930, $2,000 bury at a hot December sales going up more than 51%.  The average price rising 23.6% year over year single family homes.  Now going for 644.

Thousand dollars. And Barry's real estate forecast is set the jump 4% this year to an average price of five 69. Um, is this Hamilton have a little competition from Barry. So Hamilton, Niagara, they have a little competition, like our numbers have climbed. So, so the absorption rate in Hamilton. It's happened, like, like and they're still coming this way, but now they're going the other direction.

See, now, see, see what's happening in Toronto, the GTA buyers, they're looking okay, they're going North left. Right? So East, West, you're going, w w where's the best, where can I get my best value for my dollar? So they were coming to Hamilton. Nagra now they're looking at Barry. They say, okay, you know why maybe a little colder guy.

Yeah. You definitely have to buy a snowblower there. And then And then, but the thing is they're, they're, they're becoming  it's still, it's a little under than the Hamilton market. So now that now they're heading in that direction and that's that market's going to increase quite a bit because of that.

Yeah. If you're an investor, Barry might be a nice place to set up shop and, and treat that as an investment slash kind of vacation property. When we come back is now a good time to invest in a us property. We'll get into that here on the golf you real estate show Hamilton addition on 900. CHML. Last go round here on the Golfi real estate show Hamilton addition to on 900.

CHML my name's Roxanne Brin on the line. Once again, Rob Golfi sales representative with Remax is Cartman Realty. The Golfi team, you can find them on the worldwide web Rob Golfi.com. There's the website that's Rob G O L F i.com. Call Hamilton and Burlington's number one Remax team in volume and unit sales at (905) 575-7700.

Check them out on Instagram, Twitter, and Facebook. The handle is Rob Golfi. We had some interesting stats come down the pipe in terms of average home prices in Canada, versus those in the U S and that there's a calculation going around. This is that the average home price is now about 40% more. In Canada then America December's average Canadian home price was $617,000 with the U S mean price, which converts to about $420,000 Canadian.

That's a difference of 46%. We have a change in government in the white house. It might be maybe a little more easier on the stomach to live in the States for political reasons, for many, but from an investment standpoint or maybe even a retirement standpoint. Um, is, is the U S a good option. It seems like us they're too serious about their politics and, and, and, and, and they don't have stringent regulations like the, the Canada does.

So in 2009, the us went through a major. Recession their housing prices dipped because they were giving mortgages to everybody. Everybody was competing, all the lenders were competing to get, give somebody a mortgage. And if you can breathe, you got a mortgage in the U S back in 2007 and six and everything.

And that's what caused the problem in 2008 and nine. Um, I think Canada will always be one of the top leading countries in the world for real estate. That's why we're finding a lot of foreign people coming this way, investing in Canada. And that's why the Canadian government had to put some foreign tax rules on, in certain areas like  British Columbia in Vancouver and Toronto and different areas.

Um, I believe. You know that real estate in Canada and I, you know, and I can be biased. I live here, you know, and but I, like, I see the market goes up and down in the U S and you know, you know, politics over there is too serious and you know, it it's, I still think Canada's a great place to own real estate.

And housing prices will go up in the U S like everywhere else. Cause I talked to realtors all across the U S in different parts of the country. They're they're going through an economic boom right now with the same as we are. Probably not as much as we are, but they are still experiencing what we are in, in Canada right now with this pandemic, boom real estate, boom.

And listen, if you're looking for an investment opportunity, I mean, Hamilton, as we've seen that with the numbers, even though from, from January to January it's nothing to sneeze at that's for sure.  We'll wrap it up with some I guess what I was gonna say a funny thing. It may not have been funny to this real estate agent.

In West Virginia, we shared some photos on Facebook. I think that she screamed out loud after a creepy discovery in a basement. I guess she opened the basement door and they're just down the stairs.  According to these photos is a statue of a boy seated in the basement. So I'm imagining this lady, this realtor opening the door, seeing this.

What you probably thought was a kid or a ghost and screamed out loud. So I asked you Mr. Rob Golfi, what's the creepiest thing you've ever seen. Time, years ago, I'm showing a house, right. And we're walking around and, you know, we're, I was in the basement of this house and so. You, you you're opening doors and showing the house to clients and stuff.

I opened up the store in the basement of this house. Now nobody's in the house and I opened up the door wide open. And there you go. There is a German shepherd sitting, staring right at me at the door. And what's more scary about it is like, why doesn't this dog like bark or anything like that? It was just, and I shut that door so fast.

I'm like, Whoa, like, like Ricky, you have no idea how scared it was. It was. Like, like that moment in my clients, Holy smokes, like we're ready to walk in and there's this German shepherd sitting there. I don't know if you want to do a sneak attack on us, but he wasn't barking. And he knew there was somebody else in the house.

So, but, um you know, but anyway that I I'll never forget that opening the door and seeing a German shepherd there ready to, but quiet. He was quiet. It. So who knows he was looking for, he was looking for a snack and you were it? Yes. Yes, probably. You know what? He probably thought he probably had other people going through the house in different days before us.

And he probably thought, you know what, nobody's opening this door. I think I have to be quiet to let somebody open up this door. So. So anyway, so anyway, but we ended up closing that door. We didn't check out that room. And I don't think, I don't know if my clients bought that house, but anyway I don't think there was anything wrong with the house for them.

It wasn't because of the dog. It's just that wasn't the right floor plan, I guess, for them. So, but yeah, but that was a moment though. That definitely, that was a moment. That was pretty scary for me. For sure. And you lift the tail, the tail. That's the most important thing online. Rob Golfi.com is the website to go to and call Hamilton.

And Burlington is number one, Remax team and volume and unit sales today (905) 575-7700. Thanks for listening to the Golfi real estate show Hamilton edition. We're back next Saturday at nine on 900. CHML.