The Wealthy Barber Podcast #26 — Steve Saretsky: Canadian Real Estate—CRAZY Times Have Led to CRAZY Times
Sep 23, 2025
In this enlightening discussion, Steve Saretsky, a top 1% realtor and insightful analyst from Vancouver, dives deep into the tumultuous landscape of the Canadian real estate market. He discusses the dramatic collapse of the condo market and the rising risk for developers and lenders alike. Steve explores why many sellers are still hesitant to adjust their expectations, addresses the growing affordability crisis for buyers, and analyzes the impact of immigration on housing demand. His candid insights reveal which markets still hold value and the enduring desire for detached homes among Canadians.
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Condo Sentiment Reversed Rapidly
- The condo market swung from mania to panic as sentiment flipped quickly.
- Mainstream psychology now brands condos as a collapsing segment while other segments feel different pressures.
Pandemic Run-Up Was A Bubble
- The 2020–2022 run-up was a real estate bubble driven by ultra-low rates and panic buying.
- Some markets doubled in price in seven years, far above historical averages.
Down Payments, Not Monthly Carry, Block Buyers
- Saving the down payment is the largest affordability barrier for many buyers today.
- Mortgage carrying costs can be manageable, but accumulating hundreds of thousands for a down payment is often impossible without help.
