|
Franks Happy Place posted:1) Saudis need money to fund their war (and the concomitant social bribery campaign they will need to run in order to keep the domestic population happy, naturally) Most importantly OPEC was pretty much useless as a cartel given all the backstabbing and different goals for all the member nations. For example when the Saudi cut their production in the 80s, other OPEC nations increased their production contrary to the original agreement. Basically the new energy commodity world will be at market rate prices given all the factors such as OPEC's failure to be a effective cartel and also how technology effectively reduces production costs over time.
|
# ? Apr 8, 2015 20:22 |
|
|
# ? Jun 3, 2024 23:55 |
If you can find a house for $700,000 in North Van you should buy it in a second. That's gotta be half a million off at least. My parents just sold their lovely townhouse with tens of thousands of special assessments due for close to $700k with a six person bidding war in less than 24 hours. This is the cheapest house near me in North Van, $900,000 for 1,700 sq feet on a 50 foot lot. It will sell for more if it hasn't sold already. Only seven SFHs on the market in the whole area right now.
|
|
# ? Apr 8, 2015 20:30 |
|
Reverse Centaur posted:If you can find a house for $700,000 in North Van you should buy it in a second. That's gotta be half a million off at least. My parents just sold their lovely townhouse with tens of thousands of special assessments due for close to $700k with a six person bidding war in less than 24 hours. Ha your parents are smart cashing out of the bubble. Basically anyone with half a brain would sell their Vancouver cracks for big bucks and then invest the proceeds in index funds.
|
# ? Apr 8, 2015 20:44 |
|
quote:
|
# ? Apr 8, 2015 20:46 |
etalian posted:Ha your parents are smart cashing out of the bubble. They were gonna move to Salt Spring Island, which is just as bubbly and relies on BC Ferries, which the BC Liberals seem to be intent on destroying, but backed out of a purchase after inspection - so now they're back to looking at north shore townhouses. They make terrible decisions - we moved from Vancouver to Auckland to Sydney and back to Vancouver at the worst possible time in history every time. My parents should be loaded after long careers in computer programming/accounting but are living solely off home equity as they enter their 70s.
|
|
# ? Apr 8, 2015 20:57 |
|
Yeah my parents at one point owned 2 houses but during the lowest point in the 80's they sold the 2nd house (which was divided into 2 rentals). We'd have been legitimately wealthy if they had held onto that 2nd house. Their current house is worth 750-850ish and the 2nd house sold recently for about 650. Everyone told them not to sell but then panicked because the market was down. Most of the old boomer family friends I've grown up with all have similar financial sense. Buy when everyone else is buying, sell when everyone else is selling. House flipping seems popular, lets get into that! lovely BC resource town going through a boom? Now's the time to buy because it will only keep going up! Or they don't even buy/sell based on making money, it's just based on whims. House feels too big and hard to look after so sell it and buy a condo. Hate your condo so buy a house again. Just, generally be really really bad with your money but blunder through because they are riding high on all the 90's to now equity they've gained, and good paying jobs. Then they go on about how the next generation's so bad with money and don't have the financial sense to buy a house.
|
# ? Apr 8, 2015 21:19 |
|
lol https://www.youtube.com/watch?v=s90QrUJBjJU
|
# ? Apr 8, 2015 21:56 |
|
new CanCon rules should just require this be played once per hour every hour for eternity.
|
# ? Apr 8, 2015 22:59 |
|
quote:
|
# ? Apr 8, 2015 23:42 |
|
So Regina, Ottawa and Winnipeg housing markets are cratering. lol
|
# ? Apr 8, 2015 23:42 |
|
Pretty much figures that real estate close to oil bubble or in the more rural provinces would be the first to go.
|
# ? Apr 8, 2015 23:55 |
Baronjutter posted:Yeah my parents at one point owned 2 houses but during the lowest point in the 80's they sold the 2nd house (which was divided into 2 rentals). We'd have been legitimately wealthy if they had held onto that 2nd house. Their current house is worth 750-850ish and the 2nd house sold recently for about 650. Everyone told them not to sell but then panicked because the market was down. Heh, my dad bought a house in Point Grey for $25,000 in the 70s which is worth close to $3,000,000 now. But of course he sold it in the 70s too. When I was born they had a place on Alberta St, so worth well over $1,000,000 now since it is also west of Main, then after many years down under we inherited a huge Vancouver special near Deer Lake Park in Burnaby with unobstructed mountain views from my grandma (now worth $1 mill), then moved a place near the Grouse Mountain gondola (now worth $2 mill), then oceanfront in Deep Cove (now worth $2 mill), and now they're crying poor with $700,000 left and no home.
|
|
# ? Apr 9, 2015 02:32 |
|
http://www.cbc.ca/news/business/wti-oil-price-drops-6-as-inventories-jump-more-than-expected-1.3024830 For the ignoramuses in this thread chortling about oil's miraculous recovery yesterday.
|
# ? Apr 9, 2015 04:36 |
|
Yes, we get it: oil prices go up and down. If I wanted the WTI spot price, I'd go check it. You don't need to keep us apprised of the situation constantly.
|
# ? Apr 9, 2015 04:46 |
|
Cultural Imperial posted:So Regina, Ottawa and Winnipeg housing markets are cratering. lol Yesssssss. I'm really hoping that housing costs will become reasonable again by the time my partner and I decide to have kids.
|
# ? Apr 9, 2015 05:04 |
|
I legitimately love all the constant antagonism in this thread
|
# ? Apr 9, 2015 05:11 |
|
Coxswain Balls posted:Yesssssss. I'm really hoping that housing costs will become reasonable again by the time my partner and I decide to have kids. well the bright side is housing will be reasonable, downside is the whole economy crashing and burning. I also love the Canadian economy articles getting excited over the price of oil increasing by a few dollars. The price is not going up to $75+ anytime soon despite all the article writers clamoring for some sort of miraculous rescue, "Well the price has to go up eventually!"
|
# ? Apr 9, 2015 05:13 |
|
That goes without saying. Just how bad things end up becoming is one of the main things that's going to determine whether or not we decide to have children and/or get a home.
|
# ? Apr 9, 2015 05:19 |
|
Coxswain Balls posted:That goes without saying. Just how bad things end up becoming is one of the main things that's going to determine whether or not we decide to have children and/or get a home. Serious post: this is probably the worst consequence of a prolonged housing bubble. While reproductive technology is innovating in leaps and bounds, it is an absolute tragedy that rational people have to choose between mortgage debt indentured servitude and reproduction. Especially given the way demographics are changing. gently caress this country.
|
# ? Apr 9, 2015 05:42 |
|
We need TFB's, temporary foreign babies. Or more likely a gross system of surrogate foreign mothers that come in, carry some older couple's kids they never had in their 30's due to housing costs, and then get kicked out of the country.
|
# ? Apr 9, 2015 05:56 |
|
Cultural Imperial posted:Serious post: this is probably the worst consequence of a prolonged housing bubble. While reproductive technology is innovating in leaps and bounds, it is an absolute tragedy that rational people have to choose between mortgage debt indentured servitude and reproduction. Especially given the way demographics are changing. gently caress this country. gettin older and
|
# ? Apr 9, 2015 06:20 |
|
quote:
|
# ? Apr 9, 2015 06:31 |
|
That's insane right? I mean, to believe that you're getting something affordable is literally to burrow your head in the sand and not think that rates can go up ever.
|
# ? Apr 9, 2015 06:47 |
|
Coylter posted:That's insane right?
|
# ? Apr 9, 2015 12:56 |
|
Cultural Imperial posted:Serious post: this is probably the worst consequence of a prolonged housing bubble. While reproductive technology is innovating in leaps and bounds, it is an absolute tragedy that rational people have to choose between mortgage debt indentured servitude and reproduction. Especially given the way demographics are changing. gently caress this country. My wife and I would probably have a few kids underfoot by now if you could go back to the old 'one parent stays home until the kids are old enough to ride the school bus and do the latchkey kid thing' model of parenting. Right now the thought of paying over half my salary to daycare, buying a second car to ferry them around and then watch my kids have to fight to the death for lovely 6 months no benefits contracts 20 years from now is one of the biggest reasons why we'll probably never have kids.
|
# ? Apr 9, 2015 13:31 |
|
Disgustingquote:Sydney closes in on $1m median house price http://www.afr.com/real-estate/residential/nsw/sydney-closes-in-on-1m-median-house-price-20150408-1mgfi9 I feel ill.
|
# ? Apr 9, 2015 14:00 |
|
cowofwar posted:Well they've been dropping for like a decade now and they're basically at zero in a lot of places. There is a lot of expectation that Canada will drop it's overnight to zero eventually, especially with an oncoming recession. Seems like borrowers have been overall winners. Paying 1% less interest on an asset that costs 10% more than it did last year is hardly a slam dunk win. Specially considering that the interest could rise, or asset could depreciate (or, for laughs, both).
|
# ? Apr 9, 2015 14:29 |
|
cowofwar posted:Well they've been dropping for like a decade now and they're basically at zero in a lot of places. There is a lot of expectation that Canada will drop it's overnight to zero eventually, especially with an oncoming recession. Seems like borrowers have been overall winners. Agreed. Anyone who didn't leverage themselves to the hilt is the real sucker.
|
# ? Apr 9, 2015 14:46 |
|
What's the median household income there?
|
# ? Apr 9, 2015 14:51 |
|
shrike82 posted:What's the median household income there? I'm getting around $62k per household (at least as of 2011).
|
# ? Apr 9, 2015 14:53 |
|
Cultural Imperial posted:So Regina, Ottawa and Winnipeg housing markets are cratering. lol Where can I watch the Nova Scotian housing market crumble in real time? Please note that the only well paying jobs in Halifax are in some way government related (military contractors, the military, or healthcare/education). e: and yes, I said Halifax, because the only economy outside of Halifax in Nova Scotia is one-horse company towns like Waterville and New Glasgow
|
# ? Apr 9, 2015 14:58 |
|
shrike82 posted:What's the median household income there? 75,000 for Australia
|
# ? Apr 9, 2015 15:00 |
|
This is great. If the population always adjusts debt such that debt service is some semi-fixed fraction of their gross income, then the only way you can ever raise rates in the future is if there is wage growth. Otherwise, the population will always move to consolidate and raising rates will cause a recession. On the other hand, I doubt wage increases guarantee that a rate increase will be painless. That means the housing bubble will continue until rates drop to near zero, I guess. Barring some shock to oil...
|
# ? Apr 9, 2015 15:01 |
|
EvilJoven posted:My wife and I would probably have a few kids underfoot by now if you could go back to the old 'one parent stays home until the kids are old enough to ride the school bus and do the latchkey kid thing' model of parenting. This sounds like you are really bitter that kids cost money, perhaps you would be better off with pets. If you do choose to have kids, you will 'find a way' to make your budget work, like every other family in the world.
|
# ? Apr 9, 2015 15:06 |
|
Cultural Imperial posted:Serious post: this is probably the worst consequence of a prolonged housing bubble. While reproductive technology is innovating in leaps and bounds, it is an absolute tragedy that rational people have to choose between mortgage debt indentured servitude and reproduction. Especially given the way demographics are changing. gently caress this country. This is the situation my wife and I are in and it really sucks. I make average money. She made... poor decisions in University, so is now back in school to try and get some training that will help her get a real job. Buying a house seems like an impossible dream, having kids seems like it would break us financially. Of course families in all sorts of situations "make it work", but it's not ideal. Her parents say that no one ever feels ready to have kids, but then again they were able to buy their first house for around 100k and that was "splurging".
|
# ? Apr 9, 2015 15:10 |
|
jm20 posted:If you do choose to have ______, you will 'find a way' to make your budget work, like every other family in the world. Ladies and gentlemen, this thread is dedicated to young Einsteins like this all across Canada. Anyone can have whatever they want; you'll just "find a way to make it work". Let me spell it out for you, idiot. It's called risk management.
|
# ? Apr 9, 2015 15:22 |
|
Cultural Imperial posted:Ladies and gentlemen, this thread is dedicated to young Einsteins like this all across Canada. Anyone can have whatever they want; you'll just "find a way to make it work". If we all waited until we were 'financially steady' for children we would be having kids well into our mid 30's, perhaps even 40's. Speaking to risk management specifically, it makes far more sense to be financially 'less secure' and have children early than risk having kids in your ate 30's where complications skyrocket. You might need another break CI.
|
# ? Apr 9, 2015 15:56 |
|
You know, as much as we poo poo on the elders in here, young people are just as retarded. Exhibit 1: Twenty-four, 6 year BA in psych and creative writing, headed to grad school for screenwriting. End result: entering the work force at 26/28 with no money and zero work experience. Exhibit 2: Same age, same degree, headed to grad school for a master in arts-psych. No real work experience. Both these people are still living off their parents dime for rent and tuition rather than student loans.
|
# ? Apr 9, 2015 15:59 |
|
jm20 posted:If we all waited until we were 'financially steady' for children we would be having kids well into our mid 30's, perhaps even 40's. Speaking to risk management specifically, it makes far more sense to be financially 'less secure' and have children early than risk having kids in your ate 30's where complications skyrocket. Obviously they don't teach reading comprehension anymore
|
# ? Apr 9, 2015 16:02 |
|
|
# ? Jun 3, 2024 23:55 |
|
Please don't bring more people into this deranged world. There are already way more than the planet can support.
|
# ? Apr 9, 2015 16:11 |