Canada Housing/Debt: Trust me, I'm a landlord.

The Something Awful Forums > Discussion > Debate & Discussion > Canada Housing/Debt: Trust me, I'm a landlord.

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Subjunctive: Sep 12, 2006; ✨sparkle and shine✨

Showtime.

# ? Mar 15, 2017 14:29

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# ? May 10, 2024 20:30

Powershift: Nov 23, 2009

namaste faggots posted:

https://www.bloomberg.com/energy

hahaha

Alberta's back, baby. fire up the truck leases.

# ? Mar 15, 2017 15:00

DariusLikewise: Oct 4, 2008; You wore that on Halloween?

Breaking records all time and everything okay as long as interest rates remain low

http://in.reuters.com/article/canada-economy-debt-idINL2N1GS0FW

quote:

Canadian household debt as a share of income rose to a fresh record in the fourth quarter, data from Statistics Canada showed on Wednesday in a report likely to underscore concerns consumers are becoming overly indebted.

The ratio of debt to disposable income rose to 167.3 percent from an adjusted 166.8 percent in the third quarter. That meant Canadians owed C$1.67 ($1.24) for every dollar of disposable income.

On a seasonally adjusted basis, households borrowed C$28.4 billion in the fourth quarter, up from C$18.7 billion in the previous quarter.

Mortgages made up C$18.9 billion of this, an increase of C$1.2 billion, while consumer credit and non-mortgage loans were up C$8.5 billion at C$9.5 billion.

Years of low interest rates since the global financial crisis, as well as rising home prices, have prompted Canadians to steadily increase their debt.

The Bank of Canada has flagged the elevated level of household indebtedness as a potential vulnerability for the financial system as consumers with large amounts of debt could find it difficult to adjust to a loss of income or other financial shock.

However, low interest rates have allowed consumers to pay down more of their mortgage principal, with payments split almost evenly between interest and principal in the fourth quarter, the statistics agency said.

Consumers' ability to pay their debt also remained relatively easy. The interest-only debt service ratio held at a record low of 6.1 percent, while the household savings rate jumped to 5.8 percent from 5.5 percent.

The household debt service ratio, with is obligated payments of both principal and interest as a proportion of disposable income, edged down to 14.0 percent from 14.1 percent in the third quarter.

# ? Mar 15, 2017 15:18

cowofwar: Jul 30, 2002; by Athanatos

Hoping for rate increases starting today.

# ? Mar 15, 2017 15:24

Square Peg: Nov 11, 2008

DariusLikewise posted:

Breaking records all time and everything okay as long as interest rates remain low

http://in.reuters.com/article/canada-economy-debt-idINL2N1GS0FW

quote:
Mortgages made up C$18.9 billion of this, an increase of C$1.2 billion, while consumer credit and non-mortgage loans were up C$8.5 billion at C$9.5 billion.

Uuuuuuh am I reading that right? Did non-mortgage loans jump 950% in 1 quarter? That's a pretty loving bad sign.

# ? Mar 15, 2017 15:34

Subjunctive: Sep 12, 2006; ✨sparkle and shine✨

Almost certainly a missing "from" before "$8.5 billion".

# ? Mar 15, 2017 15:34

Square Peg: Nov 11, 2008

Ah, that would make more sense. A 12% increase is still pretty dangerous territory, though.

# ? Mar 15, 2017 15:39

cowofwar: Jul 30, 2002; by Athanatos

Up 12% still a lot

# ? Mar 15, 2017 15:41

Rime: Nov 2, 2011; by Games Forum

Are payday loans included in that category? The number of money lenders springing up over the past few years has been insane, and they certainly aren't going out of business.

# ? Mar 15, 2017 15:41

Freakazoid_: Jul 5, 2013; Buglord

Snuffman posted:

One step closer to Neuromancer.

Was gonna say this seems kinda relevant. (warning: nudity)

Don't watch the whole thing unless you're prepared to see some weird poo poo.

# ? Mar 15, 2017 16:40

Mandibular Fiasco: Oct 14, 2012

Powershift posted:

Alberta's back, baby. fire up the truck leases.

Why the hell no one quotes the price of Western Canada Select is beyond me. That's what we sell and it's at a considerable discount to WTI and Brent.

# ? Mar 15, 2017 17:54

PittTheElder: Feb 13, 2012; Yes, it's like a lava lamp.

Because nobody cares about our backwater of a province.

# ? Mar 15, 2017 18:16

Mandibular Fiasco: Oct 14, 2012

PittTheElder posted:

Because nobody cares about our backwater of a province.

Perhaps, but even Canadian media does this.

# ? Mar 15, 2017 18:30

Twerk from Home: Jan 17, 2009; This avatar brought to you by the 'save our dead gay forums' foundation.

https://twitter.com/NPR/status/842073987203104768

Time for things to get interesting.

# ? Mar 15, 2017 19:07

namaste friends: Sep 18, 2004; by Smythe

# ? Mar 15, 2017 19:11

namaste friends: Sep 18, 2004; by Smythe

https://twitter.com/obsoletedogma/status/842076050108624897

looooooool

# ? Mar 15, 2017 19:16

Reince Penis: Nov 15, 2007; by R. Guyovich

namaste faggots posted:

https://twitter.com/obsoletedogma/status/842076050108624897

looooooool

Well obviously Trump will use the biggest bluntest instrument when the opportunity arises.

# ? Mar 15, 2017 20:13

Subjunctive: Sep 12, 2006; ✨sparkle and shine✨

How long will it take for the BoC to follow suit?

# ? Mar 15, 2017 20:16

Powershift: Nov 23, 2009

Subjunctive posted:

How long will it take for the BoC to follow suit?

10 years.

We haven't even hit the mortgage crisis yet.

# ? Mar 15, 2017 20:20

Subjunctive: Sep 12, 2006; ✨sparkle and shine✨

Well that's no fun.

# ? Mar 15, 2017 20:20

leftist heap: Feb 28, 2013; Fun Shoe

lol the BoC is probably gonna cut rates.

# ? Mar 15, 2017 20:28

Twerk from Home: Jan 17, 2009; This avatar brought to you by the 'save our dead gay forums' foundation.

leftist heap posted:

lol the BoC is probably gonna cut rates.

That combination would probably just lead to devaluation of the CAD even more, right?

# ? Mar 15, 2017 20:29

Powershift: Nov 23, 2009

Twerk from Home posted:

That combination would probably just lead to devaluation of the CAD even more, right?

Yeah, but think of what that'll do for oil exports. Yeah, oil's only $50 USD a barrel but that's $100 canadian. that'll almost buy a meal at the keg.

# ? Mar 15, 2017 20:33

namaste friends: Sep 18, 2004; by Smythe

Subjunctive posted:

How long will it take for the BoC to follow suit?

What the gently caress

# ? Mar 15, 2017 20:38

Subjunctive: Sep 12, 2006; ✨sparkle and shine✨

namaste faggots posted:

What the gently caress

Talk to me.

# ? Mar 15, 2017 20:54

PittTheElder: Feb 13, 2012; Yes, it's like a lava lamp.

leftist heap posted:

lol the BoC is probably gonna cut rates.

I unironically hope they do this

# ? Mar 15, 2017 21:24

HookShot: Dec 26, 2005

PittTheElder posted:

I unironically hope they do this

Same and like 80% of the reason is to watch the CI meltdown.

# ? Mar 15, 2017 21:53

Seat Safety Switch: May 27, 2008; MY RELIGION IS THE SMALL BLOCK V8 AND COMMANDMENTS ONE THROUGH TEN ARE NEVER LIFT.; Pillbug

Mandibular Fiasco posted:

Why the hell no one quotes the price of Western Canada Select is beyond me. That's what we sell and it's at a considerable discount to WTI and Brent.

It's hard for me to even find a place that does the spot price of WCS more often than daily. I bet it's on some ancient proprietary exchange run by even more ancient assholes who don't trust computers.

# ? Mar 16, 2017 01:17

AmericanBarbarian: Nov 23, 2011

https://twitter.com/SkyNewsAust/status/842181014600400897

Heh.

# ? Mar 16, 2017 03:07

I would blow Dane Cook: Dec 26, 2008

AmericanBarbarian posted:

https://twitter.com/SkyNewsAust/status/842181014600400897

Heh.

quote:

Senior Cabinet Minister Malcolm Turnbull says it would be a "thoroughly bad idea" to allow young people to tap into their superannuation savings to buy their first home.

Prime Minister Tony Abbott and Treasurer Joe Hockey have flagged making the super system more flexible to help young homebuyers enter the market.

In an address to the Brisbane Club, the Communications Minister joined former treasurers Peter Costello and Paul Keating in criticising the push to make superannuation rules more flexible.

"My own view is that would be a thoroughly bad idea," Mr Turnbull said.

"It's not what the superannuation system is designed to achieve.

http://www.abc.net.au/news/2015-03-11/superannuation-turnbull-says-changing-rules-bad-idea/6303708

# ? Mar 16, 2017 03:15

namaste friends: Sep 18, 2004; by Smythe

Aussies gtfo

# ? Mar 16, 2017 03:16

cowofwar: Jul 30, 2002; by Athanatos

I would blow Dane Cook posted:

http://www.abc.net.au/news/2015-03-11/superannuation-turnbull-says-changing-rules-bad-idea/6303708

Yeah we already got that.

# ? Mar 16, 2017 03:35

Mandibular Fiasco: Oct 14, 2012

Seat Safety Switch posted:

It's hard for me to even find a place that does the spot price of WCS more often than daily. I bet it's on some ancient proprietary exchange run by even more ancient assholes who don't trust computers.

That seems likely given that most people have never heard of WCS. Why connect your system when no one knows what the hell your data means?

# ? Mar 16, 2017 04:14

leftist heap: Feb 28, 2013; Fun Shoe

cowofwar posted:

Yeah we already got that.

Not sure how the Aussie system work but wouldn't that be more like HBP but for CPP?

# ? Mar 16, 2017 04:32

cowofwar: Jul 30, 2002; by Athanatos

leftist heap posted:

Not sure how the Aussie system work but wouldn't that be more like HBP but for CPP?

Oh yeah, I guess, I was thinking of the RRSP withdrawal but yeah I guess we don't have the parallel.

# ? Mar 16, 2017 04:33

Throatwarbler: Nov 17, 2008; by vyelkin

"Superannuation savings" kind of sounds like an RRSP in Australian Pidgin.

# ? Mar 16, 2017 04:39

Ccs: Feb 25, 2011

Mr Luxury Yacht posted:

A buddy of mine in Montreal just put in an offer for a condo. It's loving gorgeous, good location, three to four bedrooms (there's an additional family room that could in theory be converted to one), full patio with a storage shed, I think at least 1600 sq. feet.

I think he paid $475k, but the kicker is because it was Montreal he was able to negotiate them down. He got it for under asking. His offer is pending the home inspector coming back with a good report and when I told him people in Toronto these days sometimes skip that because someone else might get it if they demand an inspection he was mortified.

I hate this dumb idiot city sometimes. I can't find what he'd pay for something equivalent here but I'd imagine double.

I need to learn French.

# ? Mar 16, 2017 05:07

Subjunctive: Sep 12, 2006; ✨sparkle and shine✨

Throatwarbler posted:

"Superannuation savings" kind of sounds like an RRSP in Australian Pidgin.

I think it's a governmentally administered RRSP? Come back, Aussie-talker!

# ? Mar 16, 2017 05:11

Rime: Nov 2, 2011; by Games Forum

Ccs posted:

I need to learn French.

Bachelors and Studios close to the center can still be found for less than $500/month there, too. My friend is currently paying $450 incl. utilities for a nice studio, which they got last September

# ? Mar 16, 2017 05:11

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# ? May 10, 2024 20:30

HookShot: Dec 26, 2005

Superannuation is basically just a mandatory RRSP. Your employer pays it directly and it's equal to 9% of your wage, but added on top of not taken out of.

Which is phrased horribly but basically if you make $100,000 a year your employer also has to on top of paying you that add $9,000 to your superannuation fund.

# ? Mar 16, 2017 05:14

The Something Awful Forums > Discussion > Debate & Discussion > Canada Housing/Debt: Trust me, I'm a landlord.

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