Our guest this episode is Ron Butler—a 30-year veteran of the mortgage industry and owner of Butler Mortgage. Some of you may recognize Ron from his social media rants or his “Angry Mortgage Podcast” where he uses colourful language and profanity to express his opinions (and share his wisdom!) on the world of real estate and mortgages.
In this episode, Dave and Ron discuss all things real estate including the pros/cons of using a mortgage broker, where they think interest rates are headed, whether people should use fixed- or variable-rate mortgages and much, much more.
Enjoy this entertaining and insightful episode.
Show Notes
00:00 – Intro & Disclaimer
00:57 – Intro to Ron Butler
03:20 – Pros/Cons of Using a Mortgage Broker
05:29 – Canada vs. USA Use of Mortgage Brokers
08:19 – Where Ron Thinks Interest Rates Are Headed
09:47 – Divergence Between Haves vs. Have-Not
11:48 – Fixed vs. Variable Mortgage Rates
13:54 – Parents Helping with Down Payments
18:02 – The Financialization of Housing
20:07 – Where Are Housing Prices Headed?
25:51 – The Small-Condo Market
30:09 – 30-Year Amortizations
32:10 – High Transaction Costs in Real Estate
34:46 – Renovations
39:37 – Big vs. Small Homes
43:23 – High Housing Costs Causing People to Leave Canada
46:10 – The Housing-Affordability Crisis
51:42 – Rapid-Fire Questions
57:16 – An F-Bomb-Filled Ron Rant
59:03 – Conclusion
