AMERIFORNIA WAGONS EAST — THE GREAT AMERICAN HOUSING EXODUS! - AS Homelessness EXPLODES!
836 views · Published 19 October 2017 · 1:17:05 · Indexed 14 November 2026
Channel: Mike Martins · 2017 · People & Blogs
It is I, your humble servant, Mike Martins, broadcasting from Merritt, British Columbia, Canada, with another very special edition of TRENDS IN THE HOUSING MARKET! Today is October 19, 2017! People, people, people! Where has this year gone? The housing market is so out of control that people don't know whether they're tricking or treating! Tonight, we've got some serious stories, some very important warnings, and a few predictions about where I believe this international housing crisis is heading. HOMELESSNESS IS EXPLODING WHILE REAL ESTATE PRICES CONTINUE TO CLIMB! We're starting in Edmonton, Alberta, with a heartbreaking story sent to me by a viewer named Shane. Shane is homeless. He's been living in Edmonton's River Valley and watching my videos at the public library. He's trying to survive outdoors as winter approaches! We're talking about temperatures that can drop to minus 30 or minus 40 degrees Celsius! And in Albuquerque, New Mexico, we're looking at authorities cracking down on homeless encampments near schools and public parks. People are being told to move along. BUT WHERE ARE THEY SUPPOSED TO GO? We're not talking about people wanting a Ferrari or an expensive vacation! We're talking about shelter! HOUSING IS A NEED, NOT A WANT! We're also looking at Canada's housing market and the new mortgage regulations coming into effect on January 1, 2018. CANADA'S NEW MORTGAGE STRESS TEST IS HERE! The Office of the Superintendent of Financial Institutions is introducing tighter mortgage qualification requirements under its B-20 guidelines. Borrowers will face a qualifying rate that could be substantially higher than the interest rate they're actually being offered. But here's my question! WHY WEREN'T THESE RULES INTRODUCED TEN YEARS AGO? What does it say about our housing system when ordinary people need special permission just to sleep in a vehicle on someone's land? And here's one of my biggest predictions tonight! I BELIEVE THE AMERICAN HOUSING CRISIS IS GOING TO MOVE EAST! We've already seen enormous affordability problems along the West Coast. Vancouver, Seattle, Portland, San Francisco, Los Angeles and San Diego! We're also looking at Germany's booming property market, London's fastest house-price declines since the financial crisis, and the possibility of higher British interest rates as inflation reaches 3%. Then we're heading to Australia! AUSTRALIAN HOUSE PRICES HAVE RISEN AN ASTONISHING 6,556% SINCE THE EARLY 1960s, ACCORDING TO THE HISTORICAL STUDY WE'RE DISCUSSING! How is the next generation supposed to compete with decades of extraordinary property appreciation? We're examining Sydney's cooling market, Melbourne's continued price growth and the difficulty working Australians face purchasing even ordinary homes. And in New Zealand, household incomes have risen approximately 42% over the past decade, while housing costs have increased approximately 51%. HOUSING COSTS ARE OUTPACING INCOME GROWTH! We're also examining New Zealand's debate about long-term renting, social housing and alternative ways of providing secure homes. And finally, we're discussing a Canada Mortgage and Housing Corporation stress test examining how the country's mortgage insurance system might withstand severe economic shocks. People, I want you to think about the bigger picture. Housing prices aren't just numbers on a screen! They're affecting whether people can get married! Whether they can have children! Whether they can take a new job! Whether they can retire! Whether they can live in the community where they grew up! I left Vancouver, moved to Merritt, bought my home outright and started putting down roots for my family. I wanted my children to grow up with stability, memories and a real sense of community. And I want other families to have that opportunity too! We're also discussing the possibility of introducing an open-microphone call-in show where viewers can tell us what's happening in their own communities. A huge thank you to Shane in Edmonton, Chelsea W., Kevin in Northern California, Stephen in Utah, Mia and everyone sending stories, articles and firsthand reports. And thank you to the talk-radio programs and independent podcast creators in Australia and New Zealand who have been sharing clips from these livestreams. TRENDS IN THE HOUSING MARKET — OCTOBER 19, 2017 “housing is a basic need man housing is just like me wearing clothes housing is like me having to drink water every day it's a need it's not a want” — Mike Martins, October 19, 2017 #TrendsInTheHousingMarket #mikemartins #housingcrisis #mortgage #edmonton #vancouverhousingmarket #torontohousing #seattlehousingmarket #portland #utahhousing #london #australiahousing #newzealand #housingaffordability #october
More from this channel
-
7:06
Man BLOCKS Vancouver Bus for 3.5 hrs !
-
1:17
GOODBYE CORVETTE! Trading My 1996 Corvette for a Family Car
-
1:11
I Traded My Corvette for a Chrysler 300C HEMI — Was It Worth It?
-
2:35
Remember the Kitten I Found in a Dumpster? Look at Miami Now!
-
3:47
Small Business Owner BLASTS Yelp — “It’s Hurting Our Businesses!”
-
4:47
Portuguese Piri-Piri Sauce vs Nando’s — Which One Is Better?
-
5:06
I Collected These as a Kid… They STILL Make Wacky Packages?!
-
3:06
Retail Apocalypse ahead, Canadians Are going Broke, Expensive housing → less money → less spending