|
Furnaceface posted:The house down the street from me has been flipped 3 times at ever increasing costs without a single person living in it and none of the flipping part has ever actually been finished. Half the house is still torn apart and yet it just keeps selling to be flipped to a flipper to flip to a flipper... Hey it's keeping the economy afloat
|
#
?
May 28, 2016 04:29
|
|
|
|
| # ? May 22, 2024 11:10 |
|
|
HookShot posted:You guys are missing out if you haven't seen THE WOLF OF WHISTLER's youtube videos: https://www.youtube.com/watch?v=95dRwxMV7iY of all of the imagery that you could use to brand yourself, why in the world would you choose the one that makes people think "insatiable hunter who will rip out your throat with it's buddies"
|
|
#
?
May 28, 2016 04:32
|
|
|
PT6A posted:Which is dumber: buying a pre-sale condo or buying a pre-sale car? Taking out a HELOC on your pre-sale condo to afford your pre-sale car. This is probably not an actual thing you can do but I'm certain that somebody has found a way.
|
|
#
?
May 28, 2016 05:15
|
|
|
TeenageArchipelago posted:of all of the imagery that you could use to brand yourself, why in the world would you choose the one that makes people think "insatiable hunter who will rip out your throat with it's buddies" The people his business model caters to are not exactly the most stable or healthy minded. Vancouverites
|
|
#
?
May 28, 2016 05:17
|
|
|
Cultural Imperial posted:
Baseball bat to the head. One of the nice aluminum ones so it makes that 'toonk' sound when it hits bone.
|
|
#
?
May 28, 2016 06:23
|
|
|
Cultural Imperial posted:
|
|
#
?
May 28, 2016 10:15
|
|
|
jm20 posted:I saw a house for 850, so I offered 875 as a bully, and was laughed out because they wanted 940 for a house that needs tons of work Similar thing happened to me a few weeks ago. We bid 50k over on a house that needed a ton of work, it sold for 175k over. Completely nuts. Strangely we did find a house since and got it without a bidding war. The "trick" was to find one that was already fixed up and cut all the flippers/renovators/deal hunters out of the buyer pool.
|
|
#
?
May 28, 2016 15:45
|
|
|
PK loving SUBBAN posted:Similar thing happened to me a few weeks ago. We bid 50k over on a house that needed a ton of work, it sold for 175k over. Completely nuts. But then how are you going to build sweat equity if it's already fixed?????
|
|
#
?
May 28, 2016 16:09
|
|
|
After all that's been posted in this loving thread for the past 4 years you loving morons are still buying No problem here u guys namaste friends fucked around with this message at 16:45 on May 28, 2016 |
|
#
?
May 28, 2016 16:39
|
|
|
PK loving SUBBAN posted:Similar thing happened to me a few weeks ago. We bid 50k over on a house that needed a ton of work, it sold for 175k over. Completely nuts. So you're the one keeping flippers in business. I bet that granite countertop is nice.
|
|
#
?
May 28, 2016 16:45
|
|
|
Cultural Imperial posted:After all that's been posted in this loving thread for the past 4 years you loving morons are still buying Ehh, on the one hand, you have a point. On the other, you only live once and just because you happen to have been born 15 years too late to buy a house like a normal person doesn't mean you shouldn't just just live your life the way you want. The people who grew up during the great depression were so damaged buy it that the never really recovered, why let other people's lovely decisions affect you? Just do what you want and hope for the best.
|
|
#
?
May 28, 2016 16:50
|
|
|
Ya I mean, the largest amount of money you'll ever spent in a single purchase on anything Hmm careful comprehensive risk analysis? Nah just #yolo
|
|
#
?
May 28, 2016 16:52
|
|
|
HookShot posted:You guys are missing out if you haven't seen THE WOLF OF WHISTLER's youtube videos: https://www.youtube.com/watch?v=95dRwxMV7iY 
|
|
#
?
May 28, 2016 16:53
|
|
|
Cultural Imperial posted:Ya I mean, the largest amount of money you'll ever spent in a single purchase on anything All of the YOLO people I've met are very happy, so sure.
|
|
#
?
May 28, 2016 16:57
|
|
|
See this is what happens when money becomes worthless
|
|
#
?
May 28, 2016 17:02
|
|
|
HookShot posted:You guys are missing out if you haven't seen THE WOLF OF WHISTLER's youtube videos: https://www.youtube.com/watch?v=95dRwxMV7iY The Wolf of Whistler would be a good title for a gay romance novel
|
|
#
?
May 28, 2016 17:10
|
|
|
Cultural Imperial posted:See this is what happens when money becomes worthless This, but unironically. If money can't buy you what you want, what good is it? It might as well be beaver pelts. Now that I think about it, are beaver pelts accepted as currency in Canada?
|
|
#
?
May 28, 2016 17:21
|
|
|
Dropping a cool million dollars and willfully indebting yourself for life, so you can own some rickety shitbox in the 'burbs, doesn't really scream "YOLO" to me. Rather it seems like a terrible waste of a persons limited time on earth: ensuring that they will be locked into working until they die in order to pay off the debt and never having time to meaningfully explore the world around them. I guess some people are just really into BDSM. 
|
|
#
?
May 28, 2016 17:25
|
|
|
That commercial was amazing, couldn't decide whether it was serious or a parody of real estate agents. Glad to see how the guy combined the dishonesty of a real estate agent with a west coast tech bro aesthetic.
|
|
#
?
May 28, 2016 17:25
|
|
|
MickeyFinn posted:Ehh, on the one hand, you have a point. On the other, you only live once and just because you happen to have been born 15 years too late to buy a house like a normal person doesn't mean you shouldn't just just live your life the way you want. The people who grew up during the great depression were so damaged buy it that the never really recovered, why let other people's lovely decisions affect you? Just do what you want and hope for the best. lol
|
|
#
?
May 28, 2016 17:25
|
|
|
meatcookie posted:Baseball bat to the head. One of the nice aluminum ones so it makes that 'toonk' sound when it hits bone. Point of fact: Aluminum bats go *ping* when they hit skull. Source: https://www.youtube.com/watch?v=kvvJYVL7Bpk
|
|
#
?
May 28, 2016 17:28
|
|
|
mastershakeman posted:So you're the one keeping flippers in business. I bet that granite countertop is nice. They are!
|
|
#
?
May 28, 2016 17:39
|
|
|
Cultural Imperial posted:After all that's been posted in this loving thread for the past 4 years you loving morons are still buying That 2015-16 spike in detached homes is unreal. There was a big housing crash in 1980 but it just looks like a blip on this chart now.
|
|
#
?
May 28, 2016 17:56
|
|
|
Rime posted:Dropping a cool million dollars and willfully indebting yourself for life, so you can own some rickety shitbox in the 'burbs, doesn't really scream "YOLO" to me. Rather it seems like a terrible waste of a persons limited time on earth: ensuring that they will be locked into working until they die in order to pay off the debt and never having time to meaningfully explore the world around them. Totally agreed, but housing is mega important to a lot of people. If back country camping permits or sail boat houses or whatever weird poo poo you are interested in (living in vans?) was being bid up by Chinese investors, local flippers and boomers accustomed to always having one, would you spend your life waiting to do those things you want to do, or would you just do them anyway? You'd probably do them illegally, which is the point. I'm not advocating sailing to France despite the weather. But if they have reason to believe the metaphorical weather will never break because so many people are invested in it staying stormy, I have a bit of admiration for people who brave it because they really want to see France. VVV Housing is a hell of a drug. VVV MickeyFinn fucked around with this message at 18:31 on May 28, 2016 |
|
#
?
May 28, 2016 17:57
|
|
|
MickeyFinn posted:Totally agreed, but housing is mega important to a lot of people. If back country camping permits or sail boat houses or whatever weird poo poo you are interested in (living in vans?) was being bid up by Chinese investors, local flippers and boomers accustomed to always having one, would you spend your life waiting to do those things you want to do, or would you just do them anyway? You'd probably do them illegally, which is the point. I'm not advocating sailing to France despite the weather. But if they have reason to believe the metaphorical weather will never break because so many people are invested in it staying stormy, I have a bit of admiration for people who brave it because they really want to see France. lol what the gently caress? dude, tcc is a few forums down
|
|
#
?
May 28, 2016 18:08
|
|
|
Cultural Imperial posted:After all that's been posted in this loving thread for the past 4 years you loving morons are still buying To be fair, the parabolic nature of the most recent spike is explained by the shittiness of the Canadian dollar.
|
|
#
?
May 28, 2016 18:16
|
|
|
Hahaha yeah that's what it is
|
|
#
?
May 28, 2016 19:04
|
|
|
Cultural Imperial posted:After all that's been posted in this loving thread for the past 4 years you loving morons are still buying I really wish they added average wage/income/whatever to these charts just to put it in perspective how much more debt people really are taking on.
|
|
#
?
May 28, 2016 19:04
|
|
|
Triglav posted:To be fair, the parabolic nature of the most recent spike is explained by the shittiness of the Canadian dollar. The weak dollar is a contributing factor, but recall that the dollar was around the 0.65 cents mark in the 90s when housing prices were flat. Speculation has also always existed and been a major factor in the housing market. That (now comparatively minor) peak and trough around 1980s was a period of epic speculation followed by interest rates leaping several points to the 18-21% area which caused everything to crash down. The massive recent spike is best explained by new circumstances and new variables introduced after 2002, or if we want to reset post us housing bust, after 2008.
|
|
#
?
May 28, 2016 19:24
|
|
|
Femtosecond posted:There was a big housing crash in 1980 but it just looks like a blip on this chart now. If only someone would invent some kind of... irregularly spaced scaling to show fractional changes in quantities instead of absolute ones. Inflation adjustment wouldn't hurt either.
|
|
#
?
May 28, 2016 19:43
|
|
|
Femtosecond posted:The weak dollar is a contributing factor, but recall that the dollar was around the 0.65 cents mark in the 90s when housing prices were flat. Speculation has also always existed and been a major factor in the housing market. That (now comparatively minor) peak and trough around 1980s was a period of epic speculation followed by interest rates leaping several points to the 18-21% area which caused everything to crash down. Right, but in simple terms, Canadian dollars are worth approximately 25% less today than they were in 2013. From that alone you can presume, no other factors changed, which I know is overly simple but bear with me, that any asset purchased in 2013 has appreciated 25% against the Canadian dollar.
|
|
#
?
May 28, 2016 19:58
|
|
|
https://www.theguardian.com/business/2016/may/27/austerity-policies-do-more-harm-than-good-imf-study-concludesquote:
Good news everyone! Like literal good news. gently caress the IMF for taking so long to realize this.
|
|
#
?
May 28, 2016 20:51
|
|
|
Arglebargle pipelines Harper open text austerity prosperity bkargle blargle
|
|
#
?
May 28, 2016 20:54
|
|
|
Frankly I'm surprised an international banker whose livelihood depends on national bankers borrowing from them would promote expanding national balance sheets.
|
|
#
?
May 28, 2016 21:04
|
|
|
Triglav posted:Right, but in simple terms, Canadian dollars are worth approximately 25% less today than they were in 2013. From that alone you can presume, no other factors changed, which I know is overly simple but bear with me, that any asset purchased in 2013 has appreciated 25% against the Canadian dollar. If houses were an import item or something, sure. The market for residential housing should primarily be domestic. Canadian housing shouldn't respond as if it were priced in American dollars.
|
|
#
?
May 28, 2016 21:11
|
|
|
apatheticman posted:https://www.theguardian.com/business/2016/may/27/austerity-policies-do-more-harm-than-good-imf-study-concludes The IMF's research arm has been dropping studies concluding that the executive arms policy packages suck for as long as I can remember. If the members of the World Bank group and subsequently the IMF believes in austerity the IMF will keep austering.
|
|
#
?
May 28, 2016 21:13
|
|
|
http://www.bloomberg.com/news/articles/2016-05-27/miami-s-condo-frenzy-ends-with-inventory-piling-up-in-new-towersquote:Miami’s Condo Frenzy Ends With Inventory Piling Up in New Towers guys i don't understand how this could be happening i mean miami is running out of land and everyone wants to live there it's just simple laws of SUPPLY and DEMAND right
|
|
#
?
May 28, 2016 21:50
|
|
|
http://www.zillow.com/homedetails/601-NE-36th-St-APT-1412-Miami-FL-33137/2099032492_zpid/  god loving drat it doesn't cost that much to live like a loving drug dealer contrast with this: https://www.realtor.ca/Residential/Single-Family/16844957/804-1661-ONTARIO-STREET-Vancouver-British-Columbia-V5Y0C3   i guess you gotta realign your expectations if you want to live in the best place on earth btw, that miami condo is 1870 sqft vs 1189 sqft for best place on earth.
|
|
#
?
May 28, 2016 21:58
|
|
|
T.C. posted:If houses were an import item or something, sure. The market for residential housing should primarily be domestic. Canadian housing shouldn't respond as if it were priced in American dollars. Unfortunately 60% of the Canadian dollar is backed by American dollars, in an American dollar denominated balance sheet held by the Bank of Canada. Asset weakness results in a higher exchange rates between that asset and others. What I'm saying is that assets previously priced in Canadian dollars are now priced higher, intrinsic values unchanged, due to the Canadian dollar's weakness against its backing assets.
|
|
#
?
May 28, 2016 22:08
|
|
|
|
| # ? May 22, 2024 11:10 |
|
|
Furnaceface posted:I really wish they added average wage/income/whatever to these charts just to put it in perspective how much more debt people really are taking on. With apologies to Subjunctive who made this joke upthread, it's the black line on the bottom. There has been zero real wage growth for anyone who isn't wealthy in basically forever.
|
|
#
?
May 28, 2016 22:09
|
|
