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cowofwar posted:China is dicking around with its currency again. I'm curious to see what this does to the valuations in their super heated market. The dollar figures in some cities are even worse than vancouver.
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May 26, 2017 15:03
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Risky Bisquick posted:I'm curious to see what this does to the valuations in their super heated market. The dollar figures in some cities are even worse than vancouver. http://www.reuters.com/article/us-china-ironore-stockpiles-idUSKBN1720UO
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May 26, 2017 15:13
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What policy would the Trudeau government go with to keep propping up homeowners if the market starts crashing and they need to limp it on life support until election time? Mortgage interest deductions? Subsidized Mortgage Payments? Negative Interest Rates???
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May 26, 2017 15:25
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It'll be a simple form.quote:Do you have a mortgage? [Y] [N]
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May 26, 2017 15:32
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https://twitter.com/InvestTranscend/status/867803024483332096 lol
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May 26, 2017 15:32
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DariusLikewise posted:What policy would the Trudeau government go with to keep propping up homeowners if the market starts crashing and they need to limp it on life support until election time? Mortgage interest deductions? Subsidized Mortgage Payments? Negative Interest Rates???
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May 26, 2017 15:33
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DariusLikewise posted:What policy would the Trudeau government go with to keep propping up homeowners if the market starts crashing and they need to limp it on life support until election time? Mortgage interest deductions? Subsidized Mortgage Payments? Negative Interest Rates??? They are already using the CMHC and the BoC to prop up the bubble. The BoC rate is disconnected with fundamentals and serves to reduce the impact of borrowing to the hilt by homeowners (and Ontario  ).
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May 26, 2017 15:37
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cowofwar posted:
The chart would indicate that things are getting better, if FIRE was 84% if the last 7 years, but obviously a smaller proportion now. No?
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May 26, 2017 18:07
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Subjunctive posted:What are "other industries"? A question the Canadian economy has been grappling with for the last 15 years.
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May 26, 2017 18:08
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Baronjutter posted:A question the Canadian economy has been grappling with for the last 15 years. I edited my post, but the tweet number doesn't seem to match the chart.
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May 26, 2017 18:09
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Update to condo board hijacking from the other week - http://www.cbc.ca/news/canada/toronto/condo-owners-resign-toronto-1.4131732 Forensic accountants and lawyers. Sounds delightful.
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May 26, 2017 23:56
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oh my loving god http://business.financialpost.com/fp-comment/dear-mr-morneau-its-time-to-step-in-and-save-home-capital quote:Funds that we manage own shares in Home Capital Group Inc., the majority of which were purchased after the major sell-off last month. We are writing to ask Finance Minister Bill Morneau to act to save the company, which we believe is the victim of aggressive U.S. investment bears who are drawing unwarranted comparisons with the 2008 U.S. housing crisis. Privatize the profits, socialize the losses. Jesus Christ.
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May 27, 2017 04:09
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Ahahahahaa
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May 27, 2017 11:02
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They had better leave that mismanaged dumpster fire company to circle the drain. Why the gently caress would the government of Canada give a poo poo about a us citizen hedge fund manager who is qqing about their rapeloan company performance inverting from raping clients to investors. Get the gently caress out
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May 27, 2017 13:10
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Wish I'd thought of writing to the finance minister to help make a stock go up after I purchased it.
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May 27, 2017 20:17
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I like that parting shot at the end too- if we go down, we'll drag the country with us and it'll be on you!
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May 27, 2017 21:08
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The Butcher posted:Wish I'd thought of writing to the finance minister to help make a stock go up after I purchased it. Yeah, I feel like a chump.
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May 27, 2017 21:12
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cowofwar posted:oh my loving god
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May 28, 2017 02:33
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Mr. Apollo posted:Didn't the National Post have an op-ed earlier in May demanding a "market based solution" for Home Capital and telling Morneau to stay out of it? Probably the same guys trying to hurt the price to buy up stock.
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May 28, 2017 06:14
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mashed_penguin posted:Update to condo board hijacking from the other week - http://www.cbc.ca/news/canada/toronto/condo-owners-resign-toronto-1.4131732 I've always found buying condos to be a strange concept. Let's combine the misery of apartment life with the insanity of HOAs.
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May 28, 2017 21:18
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etalian posted:I've always found buying condos to be a strange concept. Even better is buying presales. Will the condo be built on time? Will it be anything like the demo unit? What sorts of defects will the building show in a few years? Will your neighbours be jerks? Will the strata be insane/useless/overly busybodies/taken over by a bunch of dudes who want to rob the funds and funnel all services to their own companies? WHO KNOWS! Roll the dice and find out!
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May 28, 2017 21:24
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The Butcher posted:Even better is buying presales. Will the condo be built on time? Will it be anything like the demo unit? What sorts of defects will the building show in a few years? Will your neighbours be jerks? Will the strata be insane/useless/overly busybodies/taken over by a bunch of dudes who want to rob the funds and funnel all services to their own companies? Please trigger warning that poo poo.
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May 28, 2017 21:28
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etalian posted:I've always found buying condos to be a strange concept. There can be poorly run condos, and poorly run rental properties, or they can be run by people that have some clue what they're doing. The fact that some condos and some rentals are poorly run shouldn't really be a deciding factor. If you're renting, you should see what others are saying about the management company, and if you're buying, you should probably fork over the money for a background check on the condo (to make sure the finances are in order, and to see what, if anything, residents have been complaining about). Every annoyance I have with my condo board and management company would probably be even worse if I were in a rental-only building, and I'd have less control over fixing the things I don't like. The only special assessment we had was fairly minor (I think my portion was $1700 or something) and it was to put in a new pump system to keep the basement from flooding. It sucked at the time, but then the following year the huge flood happened in Calgary, and we had 0 water infiltration despite being less than a block from the river, so it was completely worth it.
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May 28, 2017 23:46
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If a rental only building is badly run, you can leave at the end of your lease. If you sell a condo you just bought, you'll have to eat a loss if you want out. Depending on how lovely things are going and what sort of special assessments get levied, it might be a huge loss.
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May 29, 2017 00:52
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Cold on a Cob posted:If a rental only building is badly run, you can leave at the end of your lease. If you sell a condo you just bought, you'll have to eat a loss if you want out. Depending on how lovely things are going and what sort of special assessments get levied, it might be a huge loss. Owning where you live has a number of advantages beyond an ephemeral sense of pride. To list a few: 1) You cannot be kicked out on your landlord's whim. 2) You can redecorate and renovate as you please. 3) You don't have to consider the possibility of a rent increase occurring every year. 4) You can do what you want in your own dwelling, including "owning pets" and "smoking." 5) You have greater privacy rights. I don't give a gently caress about some random sense of "pride," I like the freedom and convenience that ownership offers me. I know I've paid a premium for it, but not extremely so, and I'll probably get all of my money back when I sell, even if I don't make money on it.
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May 29, 2017 01:28
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flashman posted:Owning where you live has a number of advantages beyond an ephemeral sense of pride. To list a few: My understanding is that many condo buildings effectively forbid smoking because it needs to be undetectable, and also that you can be quite restricted in terms of permitted renovations. You also have to worry about increasing condo fees and special assessments. Unless you own it outright, you're exposed to interest rate fluctuation. Property taxes, maintenance, etc. Owning a home doesn't necessarily give you complete autonomy or constant finances.
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May 29, 2017 01:37
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flashman posted:Owning where you live has a number of advantages beyond an ephemeral sense of pride. To list a few: We should and could solve most of these with much greater renter's rights and protections like first world countries generally have.
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May 29, 2017 01:38
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Subjunctive posted:My understanding is that many condo buildings effectively forbid smoking because it needs to be undetectable, and also that you can be quite restricted in terms of permitted renovations. You also have to worry about increasing condo fees and special assessments. Unless you own it outright, you're exposed to interest rate fluctuation. Property taxes, maintenance, etc. Honestly, the rental market in Calgary right now is so hosed that, even if a housing bubble exists, it may well be easier to ride that out than the current rent bubble. As long as you take into the account that the value of your property isn't guaranteed to increase, and you will have to pay for maintenance on it, I think there's a reasonable argument to be made for buying vs. renting in the current market in this city. Outside of a few specific areas, the market isn't massively overheated. Could you lose some money, depending on what happens? Yes. That's the inherent risk in home ownership. Given rents in Calgary right now, though, I'd probably take a loss of property value rather than throwing money into the incinerator as renting would represent at this point. If the property market is inflated here, it's absolutely nothing compared to how inflated the rental market is at this moment. Price-to-rent ratio is still very low compared to other cities, especially so since the flood.
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May 29, 2017 01:57
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flashman posted:Could you lose some money, depending on what happens? Yes. That's the inherent risk in home ownership. Please report to room 101 in the morning for mandatory reeducation.
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May 29, 2017 03:06
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flashman posted:Owning where you live has a number of advantages beyond an ephemeral sense of pride. To list a few: i rent, but the condo board in my building bans #2 and #4, #3 is an insignificant risk as compared to special assessments and strata fee increases and #5 is covered pretty well by rental laws. i'll give you #1 tho
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May 29, 2017 03:51
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quote:Toronto Homeowners Are Suddenly in a Rush to Sell https://www.bloomberg.com/news/articles/2017-05-24/toronto-bidding-wars-turn-to-homebuyers-remorse-as-market-slows
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May 29, 2017 04:04
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I'm watching this trashy HGTV show where people win the lottery then get the host to help them buy a house. It's hilarious, they have like 3 mil and they're buying $250k houses in the Midwest. But sure, buying 1mil houses on a 70k salary makes sense.
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May 29, 2017 05:30
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flashman posted:Owning where you live has a number of advantages beyond an ephemeral sense of pride. To list a few: I know most of your points were addressed already but I have a few things to add so I'm going to respond to them all anyway. First, I didn't say anything about pride. I said renting gives you greater mobility. You didn't even address that point. I also don't give a poo poo about pride of ownership, as evidenced by my buying then selling two properties in three years. flashman posted:1) You cannot be kicked out on your landlord's whim. You should know that a strata does have the legal right to evict you from your unit under some circumstances though. It can and does happen. flashman posted:2) You can redecorate and renovate as you please. In the strata in the last building where I owned there were a lot of restrictions on the types of renovations you could do - for example, I wasn't allowed to install a clothes washer or dryer, if I installed hardwood it had to have a specific underlay, all of the contractors I used had to be licensed and approved by the board (the former I agreed with, the latter could lead to kick-back situations), I wasn't allowed to touch the balcony or windows, if I did anything that involved electrical work the electrical in my ENTIRE UNIT had to be redone with a new panel installation and inspected (it was an older building), etc etc. My current building (where I rent) you're not allowed to install a gas stove, even though there is a gas furnace and water heater. flashman posted:3) You don't have to consider the possibility of a rent increase occurring every year. I also know of some condos that dropped in value by 60k (in Burlington in 2016 when everything else was climbing!) due to special assessments that added $900 per month for three years so don't act like it's not a huge risk haha. Renting also allows you to put all your down-payment money into investments, which will definitely offset the rental increases, especially in a market like Ontario where the spread between owning a condo and renting one is so huge. You're also responsible for the costs of repairs inside your unit. My light fixture just went out on the weekend and my landlord is coming by tonight to take a look to see if it can be repaired or if she'll have to replace it. Not my problem.  flashman posted:4) You can do what you want in your own dwelling, including "owning pets" and "smoking." Stratas also have the power to levy fines against you if you break their rules. In fact, if you own a unit that you rent out and your TENANT breaks the rules, YOU get the fine and good luck collecting it from your tenant (usually you can evict them on this basis though). flashman posted:5) You have greater privacy rights. So overall you're wrong for Ontario, half-right for Alberta, but if you live in Alberta why not just buy a house and forget stratas entirely? Then more of what you believe is actually true. If moved back to Calgary I'd buy a nice little bungalow, I've seen them listed for as little as 300k there recently. I'm sure I'll buy again eventually, just probably not in the GTA and definitely not a condo.
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May 29, 2017 13:46
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So what you're saying is living in the same building as other people is horrible because most people are terrible and are both too worried about the superficial things their neighbors do with their property while being inconsiderate about what they do with their own. Sounds about right.
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May 29, 2017 13:52
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EvilJoven posted:So what you're saying is living in the same building as other people is horrible because most people are terrible and are both too worried about the superficial things their neighbors do with their property while being inconsiderate about what they do with their own.
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May 29, 2017 13:58
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Cold on a Cob posted:
You know, considering this thread always goes on about how owning is such bullshit, the more I hear about renting the more I think I'd gladly pay a hefty premium to avoid it. I'm lucky that, when I was renting, my landlord fixed everything within 24 hours (corporate landlords are the best!) but if that weren't an option... gently caress that, pay the money and buy if at all possible
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May 29, 2017 14:15
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Renting loving sucks in a lot of ways. Aside from one time where we got two good neighbors back to back we've on average swapped good neighbors for poo poo neighbors that party and play music at all hours of the night / run the HVAC which they control in their unit for some reason at weird temps / stink up the house with weed but "It totally doesn't smell dude I use a vaporizer!" about every 1.5 years. We've also had landlords do stuff like come over when there's water literally pouring through cracks in the foundation making everything in the basement super damp and humid your landlord may go  "all basements leak here run this Eatons brand dehumidifier 24/7 at your expense" Now that we own and don't share walls with anyone we have yet to be kept up all night by some rear end in a top hat and when something breaks we can fix it ASAP, or change it because we don't like it. We also haven't gotten angry letters about doing stuff like wanting to hang our laundry outside on a clothesline, or install and run a dishwasher, or build things using power tools. EDIT: I'd be willing to give this up and live in better density housing if it were properly built and maintained, there was a guarantee of not having to deal with assholes on the other side of the wall, we weren't constantly being hounded by MY PROPERTY VALUES idiots regarding things like clothes lines and there were proper shared use spaces for projects / camping equipment drying / bicycle maintenance etc but these places and our stuff would have to be kept safe and treated with respect which means these things don't exist because people are loving terrible. EvilJoven fucked around with this message at 15:09 on May 29, 2017 |
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May 29, 2017 14:59
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flashman posted:You know, considering this thread always goes on about how owning is such bullshit, the more I hear about renting the more I think I'd gladly pay a hefty premium to avoid it. I'm lucky that, when I was renting, my landlord fixed everything within 24 hours (corporate landlords are the best!) but if that weren't an option... gently caress that, pay the money and buy if at all possible Although I've only been reading this thread this year, from what I've seen this thread goes on about how owning is bullshit in the Ontario and Vancouver market and how making yourself house rich and cash poor is a lovely way to live. In particular, buying into this market now would be nuts when the spread between renting and buying is so significant. Renting can be lovely, this is true. And in non-insane markets, owning a house can be a good hedge against rental increases if you can tolerate a possible interest rate increase. I would happily do so again if I didn't live in the GTA.
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May 29, 2017 15:16
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flashman posted:Owning where you live has a number of advantages beyond an ephemeral sense of pride. To list a few: 2. Not for condos. The one I used to rent had rules down to "You can't have non-white curtains because the facade must be a uniform". gently caress that. 4. While it's illegal (or at least unenforceable) to have a no pets clause in a rental lease (at least in Ontario), condo buildings CAN restrict pets/the types of pets allowed in their buildings. Honestly the other problem is with only condos being built, and making up an increasing percentage of the rental market, renting those is literally the worst of both worlds.
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May 29, 2017 15:36
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So the factors that measure home prices and rent prices in CPI calculations are basically unchanged in number from 2005 in Vancouver and Toronto. In fact based on CPI breakdown home prices and rental costs are the major components bringing down CPI which makes no sense. Is this an example of regulatory capture and lobbying by real estate industry? http://www.businessinsider.com/the-bank-of-canada-is-worried-about-home-prices-2017-5
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May 29, 2017 16:22
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