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May 15, 2024 05:53
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- Pieces
- Jan 25, 2011
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I love that, I've seen similar spin countless times before.
Market bad? Now's the time to buy, get in and ride the boom that's just around the corner!
Market at the height of a bubble? Now's the time to buy, this time it's different and if you don't buy now you'll be priced out, they aren't making more land!
Market about to go through a big correction? Buy now!! Low prices and economic uncertainty make this a great time to buy!
Always buy!!
poached this from elsewhere... but I think its relevant
quote:A certain well known group associated with real estate has put together a comprehensive analysis of market conditions in order to help its members navigate just about any situation. Luckily for the rest of us, the information has leaked out through the valiant efforts of one of its members who has risked life and limb to disseminate it as a public service gesture:
Condition: Interest rates going up
Objective analysis: Loans will become more expensive unless buyers take advantage now
Recommendation: Buy real estate!
Condition: Interest rates going down
Objective analysis: Mortgage payments will go down, making it easier for millions to realise their dream of home ownership
Recommendation: Buy real estate!
Condition: Listings up
Objective analysis: More choices for those astute buyers that recognise an opportunity of a lifetime
Recommendation: Buy real estate!
Condition: Listings down
Objective analysis: Wait any longer and you seriously run the risk of being locked out forever
Recommendation: Buy real estate!
Condition: BoC raising rates
Objective analysis: Loans will become more expensive, so buyers should act before it is too late
Recommendation: Buy real estate!
Condition: BoC lowering rates
Objective analysis: Mortgage payments will go down, making homes more affordable
Recommendation: Buy real estate!
Condition: Town grows
Objective analysis: The old cliche is really true, they don’t make any more land, and it is being used up fast!
Recommendation: Buy real estate!
Condition: Town shrinks
Objective analysis: There has never been a better opportunity to take advantage of the temporarily muted economic conditions
Recommendation: Buy real estate!
Condition: Inventory up
Objective analysis: You now have an unprecedented chance of finding your dream home among the choices available out there!
Recommendation: Buy real estate!
Condition: Inventory down
Objective analysis: With the anemic volumes we are witnessing in the market, listings will not last long
Recommendation: Buy real estate!
Condition: Economy doing poorly
Objective analysis: Sellers will be reluctant to lower prices from here; at the risk of getting too wonky, housing prices are “sticky”
Recommendation: Buy real estate!
Condition: Economy doing well
Objective analysis: Buyers are flush with cash across all income and age groups, which means many more want to realise their dream of owning a home
Recommendation: Buy real estate!
Condition: Banks lending more
Objective analysis: Getting a mortgage for that dream home has never been easier
Recommendation: Buy real estate!
Condition: Banks lending less
Objective analysis: You should squeeze through the narrow window of opportunity before it slams shut, possibly for a generation, if not forever
Recommendation: Buy real estate!
Condition: Foreigners buying more
Objective analysis: Increased competition will mean fewer choices down the road, and this is not confined to the job market
Recommendation: Buy real estate!
Condition: Foreigners buying less
Objective analysis: Time to take advantage of others’ shortsightedness, and bet on the future of Canada, while securing your own retirement
Recommendation: Buy real estate!
Condition: Millennials buying more
Objective analysis: Increased millennial participation will stoke the fires of inter-generational competition over limited housing stock
Recommendation: Buy real estate!
Condition: Millennials buying less
Objective analysis: Decreased millennial participation means less competition, showing once again that more seasoned buyers can more readily secure their retirement
Recommendation: Buy real estate!
Condition: Canadians more in debt
Objective analysis: Why not roll the debt into a mortgage and have less to worry while simultaneously securing your home and hearth? You deserve freedom from the constant worry!
Recommendation: Buy real estate!
Condition: Canadians less in debt
Objective analysis: Increased cash flow means buyers can afford that much more home, meaning that the runup in prices is only in its first inning.
Recommendation: Buy real estate!
Condition: House in good location
Objective analysis: “Location is everything!” says it all, always has, and always will.
Recommendation: Buy real estate!
Condition: House in bad location
Objective analysis: The future potential of this neighbourhood isn’t priced into the listing price. Act now to take advantage of it.
Recommendation: Buy real estate!
Condition: Immigration up
Objective analysis: It’s a well known secret that immigrants, in the pursuit of their dreams, will be seeking homes, reducing the housing supply, while simultaneously driving up prices
Recommendation: Buy real estate!
Condition: Immigration down
Objective analysis: Now is virtually the best time to take advantage of the over capacity because of the unexpected immigration cut. The lull will not last.
Recommendation: Buy real estate!
Condition: Oil up
Objective analysis: Alberta will ride again, with spill over effects far reaching into every province!
Recommendation: Buy real estate!
Condition: Oil down
Objective analysis: Reduced energy costs mean consumers will able to put that much more toward securing their dream home!
Recommendation: Buy real estate!
Condition: Assessments going up
Objective analysis: Assessments are reflecting the well proven track record of home prices as a prudent investment.
Recommendation: Buy real estate!
Condition: Assessments going down
Objective analysis: Reduced assessments mean you can pocket your home’s price appreciation and increase your wealth, with the taxman’s blessing!
Recommendation: Buy real estate!
Condition: Market hot
Objective analysis: With the feeding frenzy we’re witnessing in today’s market, fence sitting is a virtual guarantee to lock you out … quite likely forever
Recommendation: Buy real estate!
Condition: Market cool
Objective analysis: Prudent and shrewd buyers are taking this once in a lifetime opportunity to call a place home, rather than throw money away on renting, year after year
Recommendation: Buy real estate!
Condition: Construction up
Objective analysis: Increased construction has opened many opportunities for the select few with the foresight to take advantage of it by locking in a brand new home
Recommendation: Buy real estate!
Condition: Construction down
Objective analysis: Increasing population and decreasing construction mean only one thing…. Act now before everyone is clued in.
Recommendation: Buy real estate!
Condition: Loonie up
Objective analysis: The currency reflects the desirability of Canada as a destination for capital flow, which will lower interest rates and loan costs. Housing prices act inversely.
Recommendation: Buy real estate!
Condition: Loonie down
Objective analysis: The increased purchasing power of foreign buyers is projected to make a tight market much tighter, putting stateside buyers at a disadvantage unless they act now.
Recommendation: Buy real estate!
Condition: Young buyer
Objective analysis: Why settle for a future of sending rent checks into a vacuum year after year?
Recommendation: Buy real estate!
Condition: Old buyer
Objective analysis: A home is the bedrock of a retirement portfolio for your golden years
Recommendation: Buy real estate!
Condition: Dying buyer
Objective analysis: Why not plan ahead and avoid becoming homeless if you’re revived?
Recommendation: Buy real estate!
Condition: Dead buyer
Objective analysis: It’s still not too late!
Recommendation: Buy real estate!
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Feb 5, 2015 04:28
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- namaste friends
- Sep 18, 2004
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by Smythe
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quote:
Looks like @suncorenergy just missed Q4 expectations... I can hear the $SU sell orders already - live fallout on @BNN in the morning folks
https://twitter.com/crudereporter/status/563174241105768449?s=09
lmao. gently caress Canada and gently caress Alberta
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Feb 5, 2015 04:32
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- namaste friends
- Sep 18, 2004
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by Smythe
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I don't wanna be a negative Nancy but
https://twitter.com/MacroPru/status/563164629304868864?s=09
Conditions are ripe for *something* to happen. No one knows just what.
E:
From the McKinsey report
quote:
Household debt is reaching new peaks. Only in the core crisis countries—Ireland, Spain, the United Kingdom, and the United States—have households deleveraged. In many others, household debt-to-income ratios have continued to rise. They exceed the peak levels in the crisis countries before 2008 in some cases, including such advanced economies as Australia, Canada, Denmark, Sweden, and the Netherlands, as well as Malaysia, South Korea, and Thailand. These countries want to avoid property-related debt crises like those of 2008. To manage high levels of household debt safely, they need more flexible mortgage contracts, clearer personal-bankruptcy rules, and tighter lending standards and macroprudential rules.
namaste friends fucked around with this message at 04:45 on Feb 5, 2015
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Feb 5, 2015 04:42
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- namaste friends
- Sep 18, 2004
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by Smythe
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http://www.theglobeandmail.com/repo...rticle22796181/
quote:
The calls started coming into Thomas Keeper’s Calgary real estate office a week before Christmas. Oil executives, watching their company stocks plummet in the wake of plunging crude prices, were looking to sell their multimillion-dollar homes ahead of the new year, hoping to cash in before the panic reached the city’s housing market.
“It was one of the busiest Decembers that I’ve ever had just because people were selling their homes right before the market was really starting to crash,” says Mr. Keeper of Tink International Real Estate, who specializes in Calgary’s luxury home market. “I’ve never had that happen. Who lists their home before Christmas?”
Calgary’s housing market took a sharp downturn last month, with sales plummeting 35 per cent compared with the same time last year, while new listings surged 40 per cent. The number of homes on the market across the city jumped from 3,100 to 4,400 in the span of three weeks, Mr. Keeper says. Average prices, however, have stayed largely flat compared to December and realtors say it will likely take several months of rising listings and sinking sales before sellers acknowledge their homes aren’t worth what they were just a few months ago.
It’s a different story for the city’s luxury market, which is already in the midst of meltdown, with some sellers slashing their prices by hundreds of thousands of dollars in a desperate bid to appeal to nervous buyers. Sales of homes above $1-million fell 43 per cent in January compared with a year earlier, the Calgary Real Estate Board said. There were no sales above $1.75-million last month, compared to 10 sales last January, even though there were nearly 300 homes for sales in the price range.
It’s a dramatic reversal of fortunes for the city’s luxury housing market, which broke new records for prices and sales last year. More than 850 homes sold for above $1-million last year, up 16 per cent from a year earlier, according to Sotheby’s International Realty Canada. Much of that growth came toward the end of the year, with sales soaring even as oil prices began their downward slide. But luxury buyers rang in the new year with a sense of panic as major oil producers began slashing jobs and scaling back spending on new projects.
Nearly half of the luxury properties in Calgary’s most prestigious neighbourhood, Mount Royal, have dropped their prices by $100,000 or more, with many homes that were selling well above $1-million now languishing on the market in the six figures. The average detached house in the neighbourhood sold for more than $2.6-million last year, but the neighbourhood hasn’t seen any sales since before oil prices began plummeting in November.
“If somebody had told me you could buy a home in Mount Royal for $900,000 a year ago I would’ve said they were lying,” Mr. Keeper said.
After pouring thousands into granite countertops, hardwood floors and new appliances, Sandra MacKenzie listed her 102-year-old house on a corner lot in Mount Royal for $1.4-million in November, just as oil prices were collapsing. Similar houses in the neighbourhood were selling for $1.5-million in the summer, but after weeks with little interest from buyers, Ms. MacKenzie recently slashed the price to $900,000. An open house last weekend brought 30 people, but no takers.
“I just can’t go any lower than that, but everybody is so scared to buy now because of the oil prices,” said Ms. MacKenzie, whose parents had taken out a reverse mortgage on the property, leaving her little equity amid falling prices. “I would even sell to a builder at this point. I hate saying that because it’s a beautiful home, but I’m getting desperate.”
Nearly a third of all new listings above $1-million in the city are for brand new, builder-owned attached houses on infill lots, said Colin Kehler of Re/Max. Several are from small developers who had torn down older single-family homes to build high-end attached houses that appeal to younger buyers wanting to live closer to downtown. Many are now sitting empty in a cooling market.
“You’d have to think they can’t carry them for too long,” Mr. Kehler said. “I think there’s going to be some motivated sellers.”
Even as sellers such as Ms. MacKenzie have dramatically slashed their prices, many others refuse to come down on the asking price, leading to a stockpile of luxury homes for sale. Mr. Keeper predicts prices on high-end homes could eventually come down another 10 per cent because of a build-up of unsold inventory before skittish buyers decide to get back into the market.
“If oil does continue to stay where it is, I would say by the spring you’re going to see a lot of buyers out there trying to take advantage of the fear in the market,” said Sotheby’s Canadian president and chief executive officer Ross McCredie.
Months ago, Calgary real estate agents could stick a luxury house on the Multiple Listings Service and sit back and watch it sell. These days, they’re having to work much harder just to get prospective buyers in the door. Mr. Keeper has reached out to contacts in the U.S. hoping American buyers will be enticed by falling house prices and a sinking loonie. “You have open house after open house,” he says. “If a buyer calls you at 10 in the morning or when you’re sitting down for dinner, then you drop what you’re doing and you go,” he says. “And if a buyer wants the couch with the house, they get the couch.”
fuuuuuuuuuuuuuck albertaaaaaaa
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Feb 5, 2015 05:04
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- namaste friends
- Sep 18, 2004
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by Smythe
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and fyi, Vancouver's and Toronto's housing markets are 'surging' right now.
http://www.theglobeandmail.com/repo...rticle22779802/
http://www.theglobeandmail.com/repo...rticle22775169/
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Feb 5, 2015 05:35
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- namaste friends
- Sep 18, 2004
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by Smythe
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http://www.cbc.ca/news/canada/briti...campaign=buffer
quote:
Residents of an affordable housing complex that is being demolished to increase density around a CanadaLine station along the Cambie corridor are speaking out against the new development.
Concord Pacific is proposing three towers at S.W. Marine Drive between Cambie and Yukon streets, where Marpole's Marine Gardens complex currently stands. One of the towers would be rental units.
Vancouver city council recently referred the project to a public hearing.
Model of urban design
When it was built in the 1970s, Marpole's Marine Gardens was considered the model of urban design. The 70-unit townhouse complex, with family-friendly courtyards, a daycare, and leafy walkways, served as a showcase when Vancouver hosted the 1976 UN Habitat forum.
"I think what makes it different is that it is very community oriented," said Jillian Skeet, who has lived at Marine Gardens for over a decade.
As compensation, Skeet said she's been offered a relocation plan that includes $8,500, four months of free rent, and assistance with moving expenses.
"The problem is when you look at what's out there, that amount of money wouldn't last very long in the Vancouver housing market," said Skeet.
"It's short-term assistance for a very long-term problem."
New rental rates 'not feasible' for current residents
Skeet pays $1,100 a month for a three-bedroom townhouse at Marine Gardens.
As is the case with all the current tenants, she's been offered offered the right to move back in when the project is completed, but at a rate that's almost twice as much as her current rent.
Residents are being offered a 20 per cent discount on rent. But because Concord Pacific will be able to apply rent increases as soon as the permit is approved, by the time tenants move in, that discount will only be about eight per cent.
"For most of us who live here, it simply is not feasible," said Skeet.
She said many of the residents are on disability assistance or have chronic health issues.
"For them, the stress of this situation is just debilitating," said Skeet.
She and other residents are looking at mounting a legal challenge against the city.
Fulfilling the Cambie corridor plan
Brian Jackson, Vancouver's manager of city planning, says redeveloping the property is in line with the city's goal of building high-density housing along major transit corridors like Cambie Street.
"Early on we looked at any potential for saving the townhouses and building high density around it," said Jackson. "We realized that in order to achieve the broader objective of locating people near transit that we would be looking for the replacement of this rental with new housing at this location."
He said the city will collect $10 million as a result of the development, which will go towards low-income housing along the Cambie corridor. This will include low-end market rentals, social housing and housing for homeless.
He said current residents were being offered a "generous" discount to live in the new development, and that the new rates will be more in line with standard rents in the city.
"The rents are in my opinion artificially low for the area and the type of housing that they have," said Jackson.
Jackson said two earlier open houses for the project garnered mixed feedback.
And this, craft beer marxists, is why urban planning in Vancouver is a loving farce. The CoV has been on a tear, destroying low income housing in the name of urban design and density.
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Feb 5, 2015 06:16
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- namaste friends
- Sep 18, 2004
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by Smythe
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New alarm bells over household debt as Canada faces 'downward spiral'
http://www.theglobeandmail.com/report-on-business/economy/new-alarm-bells-ringing-over-household-debt/article22797037/
quote:
New alarm bells over household debt as Canada faces 'downward spiral' Add to ...
by TAVIA GRANT, theglobeandmail.com
February 5 03:17 AM

Photo by: cards are displayed in Montreal in December, 2012. (Ryan Remiorz/The Canadian Press)
As Canada’s economy begins to slow, the country’s growing household debt burden is raising new concerns as it outpaces that of most developed countries.
In fact, Canada had the second-biggest jump in household debt-to-income ratios of any country other than Greece between 2007 and the second quarter of 2014, a new study says.
Canada and Australia along with a number of countries in northern Europe “now have larger household debt burdens than existed in the U.S. or the U.K. at the peak of the credit bubble,” according to a new analysis.
The McKinsey Global Institute looked at 47 countries and identified seven with “potential vulnerabilities” in household debt that could lead to financial instability and a consumer spending slowdown: the Netherlands, South Korea, Sweden, Australia, Malaysia, Thailand – and Canada.
The study, to be released Thursday, comes amid mounting evidence of a sputtering economy. The country’s GDP shrank in November, and last year’s job growth has been revised lower while oil prices have slumped, restraining business development.
The report was based on data to the second quarter of last year.
Since then, several factors make the picture in Canada more stark: Household debt-to-income ratio rose further, to a record 162.6 per cent in the third quarter. House prices continued to climb, though the pace is slowing. And the Bank of Canada cut interest rates last month – with another reduction possible in March – moves that could spur even more borrowing.
“What the financial crisis showed us is that when you have rising real-estate prices and rising household debt, it can be a deadly mix. You have to manage each carefully,” Susan Lund, Washington-based McKinsey partner, saud in an interview.
It is crucial to monitor household debt levels closely, she said – in particular, which segments by income or demographic group seem to be slipping under water. And policy makers need to tighten lending standards and reduce mortgage size limits when markets are overheated.
Of the central bank’s rate cut, Ms. Lund said it’s “tempting to try to spur growth through credit. But it makes the need to monitor debt more urgent.”
If left unchecked, the risk is that households will no longer be able to afford the debt they’ve taken on. They could either be vulnerable to foreclosures and bankruptcies – or they could slash spending to pay back debt. That in turn could reduce consumption, which could dent economic growth and trigger a recession – a “downward spiral,” according to Ms. Lund.
The study looked at whether high household debt in some countries will eventually spark a crisis. It analyzed the level and growth of debt-to-income ratios, debt-service ratios, and house price changes. By these metrics, it highlighted Canada as being one of the most at risk.
The Bank of Canada has long held that rising household debt poses one of the biggest risks to the domestic economy – though it has also become increasingly focused on lower oil prices.
Residential mortgage credit grew by 5.3 per cent in Canada last year while non-mortgage credit growth expanded by 3 per cent amid more personal lines of credit, Royal Bank of Canada noted Wednesday. The pace of growth for both kinds of credit accelerated in 2014 from a year earlier.
House prices have been a key factor in debt growth. Between 2000 and 2007, house prices zoomed higher in many countries – by 138 per cent in Spain, 89 per cent in Canada and 55 per cent in the United States.
Rising house prices have led to larger loans. With more banks willing to lend, real estate prices have climbed higher still. “The correlation between growth in real estate prices and household debt is seen across countries,” the study said.
The seven countries with household debt that “may be unsustainable” have both the highest debt-to-income ratios and significant growth since 2007. Canada is the exception in having better debt-service ratios, though that could change when borrowing costs rise. In all, “these figures suggest potential risk but do not signal imminent crises.”
There is a caveat – Canada’s household debt numbers include the debt of unincorporated businesses, which is counted as corporate debt in other countries. That may inflate Canada’s numbers, though McKinsey notes that the trend lines still show continuous growth.
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Feb 5, 2015 12:41
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- namaste friends
- Sep 18, 2004
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by Smythe
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My therapist tells me that I need to be a more positive, uplifting person. Here's an uplifting, positive post:
http://www.cbc.ca/news/canada/british-columbia/arvindbhai-bakorbhai-patel-financial-planner-charged-in-ponzi-scheme-1.2945445
quote:
Arvindbhai Bakorbhai Patel, a former B.C. Coast Capital Savings financial planner, has been charged with 32 counts of Securities Act violations in connection with a $110-million Ponzi scheme.
Patel is accused of advising clients to invest in a fraudulent scheme operated by former notary public Rashida Samji.
Investors included family members, co-workers and Coast Capital customers.
'We trusted him'
Victor Vishwanathan and his daughter are among 15 alleged victims named in charges sworn in Surrey provincial court in January.
"We trusted him," Vishwanathan said. "I feel betrayed by a friend, and also I feel morally responsible for introducing my daughter to this scheme and losing her money."
Many of Patel's alleged victims were customers and co-workers at Coast Capital Savings. (CBC)
Last month, the B.C. Securities Commission fined Samji $33 million for running a Ponzi scheme. She still faces 28 criminal charges of fraud and theft, relating to $17 million she allegedly defrauded from 14 victims.
According to the commission, investors believed they were providing financial backing for the expansion of foreign wineries built by the Mark Anthony Group.
They were told the money would be used as collateral for loans, but remain in Samji's trust. As it turned out, the company had no idea its name and reputation were used in association with the scheme.
Clients thought they would earn 12 per cent interest on their investment annually, with the first half of that amount paid after just one month.
Investigation continues
News of the Securities Act charges against Patel came as a surprise to investors contacted by the CBC.
In April 2012, the then 58-year-old reached a settlement agreement with the securities commission, receiving a permanent market ban and signing away his interest in five properties.
The commission said he convinced about 90 investors to place nearly $29 million with Samji.
But the RCMP said their investigation continues. The new charges carry maximum penalties of $3 million and up to three years in prison.
Vishwanathan said Patel handled his RRSPs at Coast Capital.
He said he put Patel in touch with his daughter after the financial planner allegedly suggested a "secure" investment in the Mark Anthony Group.
"They exchanged some emails and talked over the phone and finally, she decided to go ahead and invest $50,000," he said.
Vishwanathan said she lost about $25,000.
Co-worker named as victim
Another of the investors named in the charges worked with Patel at the bank. Her husband told a securities commission hearing they heard about the scheme at a Coast Capital Savings Christmas party and invested $200,000.
He said the collapse of the scheme and the ensuing investigation sent his wife into depression and alienated her from other bank employees.
In her own interviews with commission investigators, Samji claimed Patel often brought cash into her office from investors, taking some of his cut from their money.
As part of the panel's decision, Samji was ordered to pay the commission $10.8 million, which is the difference between the monies deposited by investors and paid to other investors.
None of the charges have been proven in court.
You'd think credit union employees would be able to spot an illegal financial scam from a mile a way.
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Feb 5, 2015 16:16
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- Kraftwerk
- Aug 13, 2011
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i do not have 10,000 bircoins, please stop asking
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So if oil prices are so low now, why is gas creeping back up?
It went from 87 to 88 to 94 97 now 100..
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Feb 5, 2015 16:30
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- Gorau
- Apr 28, 2008
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So if oil prices are so low now, why is gas creeping back up?
It went from 87 to 88 to 94 97 now 100..
A combination of the fact that the oil to gas price is delayed (it rallied a bit for a couple days) and the fact that there's a big strike at large refineries right now.
http://mobile.reuters.com/article/idUSKBN0L811L20150204?irpc=932
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Feb 5, 2015 16:34
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- Postess with the Mostest
- Apr 4, 2007
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Arabian nights
'neath Arabian moons
A fool off his guard
could fall and fall hard
out there on the dunes
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Also, Eastern provinces import most of our gas and that gas is priced is USD.
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Feb 5, 2015 16:37
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- Lexicon
- Jul 29, 2003
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I had a beer with Stephen Harper once and now I like him.
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So if oil prices are so low now, why is gas creeping back up?
It went from 87 to 88 to 94 97 now 100..
You already know the reason: because gently caress you, that's why.
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Feb 5, 2015 17:03
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- Rime
- Nov 2, 2011
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by Games Forum
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Also, Eastern provinces import most of our gas and that gas is priced is USD.
This, we demolished most of our domestic refineries back in the 80's and 90's.
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Feb 5, 2015 17:10
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- triplexpac
- Mar 24, 2007
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Suck it
Two tears in a bucket
And then another thing
I'm not the one they'll try their luck with
Hit hard like brass knuckles
See your face through the turnbuckle dude
I got no love for you
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This isn't Canada exactly, but are we due for another Tech bubble burst or something? I saw a link to something called Camp Imgur
http://thenextweb.com/insider/2015/02/03/imgur-holding-first-ever-irl-internet-meetup-camp-imgur/
quote:Imgur is undebatably one of the best places on the internet for funny and interesting images. The company has today announced its first ever in-real-life weekend camp, where you can meet other people who spend time on the site.
Maybe I'm an old man but I feel like we're due for all this stuff to collapse again. It's getting too silly.
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Feb 5, 2015 19:40
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- A Shitty Reporter
- Oct 29, 2012
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Dinosaur Gum
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It's gonna happen. People make the same stupid mistakes over and over, and tear down things made to prevent it. The best you can do is try to reduce the damage.
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Feb 5, 2015 19:45
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- namaste friends
- Sep 18, 2004
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by Smythe
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A platform for dickpics is worth 1 billion
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Feb 5, 2015 21:29
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- triplexpac
- Mar 24, 2007
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Suck it
Two tears in a bucket
And then another thing
I'm not the one they'll try their luck with
Hit hard like brass knuckles
See your face through the turnbuckle dude
I got no love for you
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Another somewhat unrelated anecdote, but this made me laugh
quote:
The annual fee to join a GTHL A team is around $3,000, and that doesn’t include the cost of equipment, like skates (the price tag on a pair of CCM Tacks 5052 Juniors is $299) and sticks (a Bauer Nexus 8000 composite also rings in at $299). There are tournaments and extra skills sessions, too: at the more elite AA and AAA levels, the costs and time commitments can quadruple. It’s not unheard of for a parent to spend $50,000 a year on specialized year-round training. One mother of an 11-year-old AA player told me their annual financial commitment is $20,000. “I have a leaking roof that I can’t afford to fix,” she says, “but somehow we find the money for our son to play hockey.”
http://www.torontolife.com/informer/features/2015/02/04/gthl-puckheads/
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Feb 5, 2015 22:25
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- namaste friends
- Sep 18, 2004
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by Smythe
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Remember when hockey was all about white trash making it big? Tom Cochrane wrote a sing about this
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Feb 5, 2015 22:57
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- bring back old gbs
- Feb 28, 2007
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by LITERALLY AN ADMIN
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Hockey has always been a rich mans sport, dont kid yourself. I hope youth hockey enrollment continues to plummet because its fun to watch Don Cherry freak out and blame everything from immigrants to liberal scum for it and not the fact that the game just got too expensive and people just dont make enough money anymore to cover the massive monetary and time sinks it requires to have your kid participate.
I prefer UK hockey without all the pads
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Feb 5, 2015 23:42
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- Baronjutter
- Dec 31, 2007
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"Tiny Trains"
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I never had any idea hockey was so expensive. I knew only a couple kids growing up that played, but it was always just a sort of pop down to the rec centre and slap some pads on sort of a thing. Is it one of those things that's expensive as you make it, and idiot "middle class" people think there's no other option but putting their kid int he best hockey program with the best equipment, or is 20k a year actually the typical cost for youth hockey stuff?
I used to go skate at the local rec centre until they took away those metal things you could hold in front of you like a walker. We'd demo-derby with them and it was so much fun. They took them away in the 90's for "liability" reasons and I haven't slid on ice ever since. Is youth hockey a big deal outside of Victoria? I know a lot of families, lot of very sporty families, and hockey is never on the list. Most people I know don't even know how to skate, many have never been.
Basketball, rowing, football/soccer seem super popular with kids, heck even baseball is more popular. I guess none of those need a ton of expensive equipment your kids will grow out of, or need a huge expensive climate-controlled arena groomed by a huge machine.
Clearly we need more youth hockey government subsidies and tax credits to support our culture.
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Feb 5, 2015 23:54
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- Furnaceface
- Oct 21, 2004
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I never had any idea hockey was so expensive. I knew only a couple kids growing up that played, but it was always just a sort of pop down to the rec centre and slap some pads on sort of a thing. Is it one of those things that's expensive as you make it, and idiot "middle class" people think there's no other option but putting their kid int he best hockey program with the best equipment, or is 20k a year actually the typical cost for youth hockey stuff?
I used to go skate at the local rec centre until they took away those metal things you could hold in front of you like a walker. We'd demo-derby with them and it was so much fun. They took them away in the 90's for "liability" reasons and I haven't slid on ice ever since. Is youth hockey a big deal outside of Victoria? I know a lot of families, lot of very sporty families, and hockey is never on the list. Most people I know don't even know how to skate, many have never been.
Basketball, rowing, football/soccer seem super popular with kids, heck even baseball is more popular. I guess none of those need a ton of expensive equipment your kids will grow out of, or need a huge expensive climate-controlled arena groomed by a huge machine.
Clearly we need more youth hockey government subsidies and tax credits to support our culture.
Even going the used equipment route hockey is expensive. Youth hockey in particular because a growth spurt suddenly means another trip back to the store. Arena time is expensive these days so league/registration fees are now pretty high even for basic Timbits hockey. Then there are travel costs because most cities just dont get enough kids to support a league within the city itself. 20k is probably the top end where parents think their kid is the next Crosby and are paying for the best/newest everything. I could easily see a couple grand per kid per season even at the bottom though.
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Feb 6, 2015 00:12
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- Baudin
- Dec 31, 2009
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Hockey is huge in Alberta. Buying equipment is hilariously expensive, especially since the kids grow out of them every few years. Not sure about your $20k per year number though.
e: Ask me about travelling two hours each way for a hockey game on the weekend in rural Alberta. Memorable tournaments were over 5 hours away.
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Feb 6, 2015 00:17
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- HookShot
- Dec 26, 2005
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e: Ask me about travelling two hours each way for a hockey game on the weekend in rural Alberta. Memorable tournaments were over 5 hours away.
This is definitely exactly the same in BC. And Abbotsford isn't even that rural. We'd have tournaments in Revelstoke, like 8/9 hours away.
Also, hockey is expensive, but it CAN be done relatively cheaply. My parents were far from rich and they managed. Sure, we didn't get all brand new equipment every year, a lot of it was used, we never got to have $200 sticks ($50 was the limit) and we'd usually buy a size or two too big until my brother and I knew we'd stopped growing. I doubt my parents ever spent CLOSE to even $5k a year on my hockey. It's still way out of reach for a lot of families, but it's definitely not necessary to spend like $30k/year.
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Feb 6, 2015 00:38
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- namaste friends
- Sep 18, 2004
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by Smythe
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Lol 200$ hockey sticks. What the gently caress is it made of? Pre crash crude oil?
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Feb 6, 2015 00:55
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- Barudak
- May 7, 2007
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Lol 200$ hockey sticks. What the gently caress is it made of? Pre crash crude oil?
Go online and you'll see dozens upon dozens in the $100-$200 range without any real effort. Knowing the kids I grew up with their custom sticks hand carved and what ever else poo poo they were dropping $600+.
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Feb 6, 2015 01:08
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- namaste friends
- Sep 18, 2004
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by Smythe
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Hahaha that's loving retarded
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Feb 6, 2015 01:13
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- FrozenVent
- May 1, 2009
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The Boeing 737-200QC is the undisputed workhorse of the skies.
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I had a coworker who spent a ridiculous amount of time and money getting their kids to play hockey. The reasoning was that they'd get hockey scholarship to university.
Family was upper middle class, they could have easily afforded to send their kids to college without hockey scholarships, so I really don't grit it. LOL at the very idea of a $200 hockey stick though.
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Feb 6, 2015 01:14
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- Adbot
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