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On our 2nd show, we talk real estate investment with James Laird. He is the founder of CanWise Financial - one of the top rated mortgage brokerages in Canada. He also owns several of his own investment properties. Should Millennials get into the housing market? How should they do it? We dig in, have some fun, and discuss investment properties.

[0:00] Intro

[1:40] Opening thoughts on buying a home and the real estate market in Canada

[4:15] Tyler's feelings on owning real estate

[6:02] Is Hyder an aspiring home buyer?

[7:25] Do you want to buy a home? 

[8:00] Justin on renting a condo and not being ready to buy a house

[8:47] We ask Torontonians if buying a home is a good idea

[9:40] Interview with James Laird

[10:00] Money Mess-Ups Segment

Burger's Priest, appletinis, an ugly painting, a child places an Amazon order, and the double edged sword of Uber discounts

[13:55] Why is owning a home part of our national conversation?

[15:28] You need 132k to afford an average house in Vancouver

[15:43] Where is the cheapest place to buy a home in Canada?

[16:34] 75% of Canadians believe owning a home is a good investment. Is there a recency bias? Why do people so overwhelmingly believe it's a good investment?

[17:21] Decouple where you own real estate from where you live

[18:35] Do you lose principal residence benefits if you buy an investment property?

[18:55] James Laird reflects on his first home purchase

[19:50] How do you develop a budget to buy an income property?

[20:40] Do you manage your rental property yourself?

[21:25] 18% of people said home maintenance costs were the biggest regret and unknown.

[23:00] 81% of Millennials aspire to buy a home. What should they consider before entering the market - especially in Toronto?

[25:35] Statistics Canada reports 1 in 3 people aged 20-34 now live at home with their parents

[27:20] Baby boomers are the richest generation ever

[28:20] What are the repercussions of parental help in buying a home?

[29:20] On the failure of urban planning and the supply side of housing

[31:00] Society needs the next generation to own homes. 

[31:56] If wages don't increase and house pricing still rises, is there a new reality that fewer people will own homes?

[34:00] If you want to live in a major city centre, it might not be a reality to own there. 

[34:40] Closing thoughts with Justin, Hyder, and Tyler

[34:45] What did you think about when he said, "the dollars you'll never see again" when you think about renting?

[35:25] There are a lot of dollars you'll never see again when you own a home

[36:10] No money left over to invest after mortgage payments

[37:00] Hyder is paying for the privilege to rent and will invest in the market

[37:18] Is there pressure to buy a home?

[38:04] Keeping up with the Joneses, a lot of help from their parents

Harper's Bazaar article 

[39:00] 26% of buyers used a gift from their family to buy a home

[39:23] Poverty charges interest

[39:57] Shower thoughts with Tyler

[40:15] Outro