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May 14th, 2024

TEDM – Steve Saretsky – Market Mechanics: Mastering Investment Amid Inflation and Taxes (Episode 193)

  1. TEDM – Steve Saretsky – Market Mechanics: Mastering Investment Amid Inflation and Taxes (Episode 193) Patrick Francey 1:03:14

In this episode of the Everyday Millionaire podcast, Patrick Francey and Steve Saretsky take a deep dive into Vancouver and British Columbia’s real estate markets, uncovering critical challenges and emerging trends that all investors and homeowners should know about. Despite efforts to curb speculation, Vancouver remains one of the most expensive cities in North America due to high immigration rates, a persistent supply-demand imbalance, and strict financing conditions that restrict developers from increasing new housing supply.

Landlords face increasingly harsh rent control measures, which often limit them to the point of either selling their properties or Moving in themselves. The government’s recent flipping tax imposes a 20% levy on pre-sale contracts, even if purchased before the new legislation took effect. While designed to reduce speculation, it ends up discouraging investment and penalizing skilled tradespeople who are restoring older properties that could increase housing supply. Combine that with the fact that roughly 30% of new home construction costs are eaten up by government taxes and fees, and it’s clear why new projects struggle to get off the ground.

In this engaging conversation, Francey and Saretsky highlight why diversification is essential. They explore how, when denominated in gold, Vancouver real estate prices have actually declined, underscoring the value of precious metals and foreign currencies in safeguarding investments. Maintaining liquidity, too, is vital amid rising inflation and a potential recession. With developers eyeing US real estate markets due to friendlier regulations, they discuss how Alberta remains a promising option domestically, but with a cautionary note about potential overbuilding.

Curious about how these insights can help you navigate the turbulent market ahead? Tune in to the podcast to hear how Saretsky’s deep understanding of market dynamics can give you the edge you need. Learn about strategic opportunities, emerging trends, and critical risks in the ever-evolving world of real estate.

Patrick Francey Creator/Host TheEveryDay Millionaire Podcast

ABOUT ME
PATRICK FRANCEY
CEO, MULTIPLE BUSINESS OWNER, EDUCATOR, COACH, CANADIAN REAL ESTATE INVESTOR PODCAST CREATOR and HOST

Patrick Francey is considered a luminary in real estate investment education, entrepreneurship, and personal and professional development.

He is a gifted speaker and coach dedicated to enriching lives through personal and professional growth. As CEO of the Real Estate Investment Network (REIN) and a multi-business owner, Patrick brings over 40 years of business expertise, guiding individuals toward their financial and business goals.

With a profound commitment to holistic growth, Patrick resonates with Canadian investors and entrepreneurs. His journey from humble beginnings to a Canadian-based real estate investor, educator, and speaker inspires a global audience. Through engaging speaking events, educational programs, and his top 10% podcast "The Everyday Millionaire," Patrick's approachable style inspires action by
his followers.

Patrick's influence extends to well-being with a foundational philosophy of creating a context for your life, intentionally, mindfully, and with purpose. He and his wife, Steffany Hannity-Franceyare inspired to support the success of others. Patrick's dedication to his vision for success, paired with his holistic lifestyle, embodies a well-rounded approach. His enduring impact in entrepreneurship and real estate investment is an unwavering beacon of guidance, proving his principles invaluable for those seeking to be their greatest self and live their best life, by design.

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