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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namaste friends: Sep 18, 2004; by Smythe

http://www.bankofcanada.ca/press/upcoming-events/

Official BOC ical feed.

# ? Jul 10, 2017 22:11

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# ? May 23, 2024 11:46

maxidious: Sep 25, 2007; Meh

quote:

More than quarter of Canadian mortgage holders are 'in over their head' even before rate hike

More than a quarter of Canadians with a mortgage say they �are in over their head� with current payments, a new survey reveals.

The Ipsos poll taken for bankruptcy service MNP Ltd. found Canadians are worried about a potential housing bubble and impending interest rate hikes, adding financial stress to households already carrying a record level of debt.

The Bank of Canada is now widely expected to hike its key rate this Wednesday, with some economists forecasting a second hike before the year is out.

The poll found that 45 per cent of Canadians and 48 per cent of homeowners are concerned about the impact rising rates will have on their finances.

�Many are borrowing against their homes and using them to finance lifestyles they simply can�t afford,� said Grant Bazian, President at MNP LTD.

�What�s worse is that many are not making regular payments against the principal, and the threat of an increase in interest rates might make it even harder to make ends meet.�

Over 70 per cent of Canadians rate their ability to cope with a 1% interest rate increase as �less than optimal.� And the majority of Canadians (77 per cent) would have difficulty absorbing the additional $130 per month in interest payments on debt.

�Canadians should be bracing themselves for some major financial changes,� said Bazian.

# ? Jul 10, 2017 23:20

leftist heap: Feb 28, 2013; Fun Shoe

Canadians should brace themselves for some major bailouts.

# ? Jul 10, 2017 23:46

Furnaceface: Oct 21, 2004

leftist heap posted:

Canadians should brace themselves for some major bailouts.

Banks first, then boomers.

Everyone else is hosed.

# ? Jul 10, 2017 23:48

leftist heap: Feb 28, 2013; Fun Shoe

Imagine the Liberals, Conservatives and NDP campaigning during a downturn or crash in the housing market, lmao. We may just see it in 2019. Youll never see pork like it ever again in your life.

# ? Jul 10, 2017 23:54

namaste friends: Sep 18, 2004; by Smythe

watch the BCNDP be the harbinger of this. one by one, david eby capitulates on all his housing tweets until we see him and bob rennie partying it up like a couple white guys

# ? Jul 11, 2017 00:06

maxidious: Sep 25, 2007; Meh

I've always kind of assumed when things go real bad they will just bail everyone out by making mortgage interest tax deductible.

# ? Jul 11, 2017 00:30

EvilJoven: Mar 18, 2005; NOBODY,IN THE HISTORY OF EVER, HAS ASKED OR CARED WHAT CANADA THINKS. YOU ARE NOT A COUNTRY. YOUR MONEY HAS THE QUEEN OF ENGLAND ON IT. IF YOU DIG AROUND IN YOUR BACKYARD, NATIVE SKELETONS WOULD EXPLODE OUT OF YOUR LAWN LIKE THE END OF POLTERGEIST. CANADA IS SO POLITE, EH?; Fun Shoe

Can't wait for my bailout. It's gonna be sweet.

Thanks for the subsidy, suckers.

# ? Jul 11, 2017 01:44

Risky Bisquick: Jan 18, 2008; PLEASE LET ME WRITE YOUR VICTIM IMPACT STATEMENT SO I CAN FURTHER DEMONSTRATE THE CALAMITY THAT IS OUR JUSTICE SYSTEM.; Buglord

maxidious posted:

I've always kind of assumed when things go real bad they will just bail everyone out by making mortgage interest tax deductible.

Unlimited RE capital gains exemption and deductible mortgage interest. Renters truely will be Dalits

# ? Jul 11, 2017 01:59

namaste friends: Sep 18, 2004; by Smythe

EvilJoven posted:

Can't wait for my bailout. It's gonna be sweet.

Thanks for the subsidy, suckers.

Oh word? Sounds like you've given up Poor Person virtue signaling between this and your pilot chat

# ? Jul 11, 2017 02:04

namaste friends: Sep 18, 2004; by Smythe

smdh 1/10 cuckposting

# ? Jul 11, 2017 02:05

leftist heap: Feb 28, 2013; Fun Shoe

maxidious posted:

I've always kind of assumed when things go real bad they will just bail everyone out by making mortgage interest tax deductible.

That will probably just be the start.

# ? Jul 11, 2017 02:23

EvilJoven: Mar 18, 2005; NOBODY,IN THE HISTORY OF EVER, HAS ASKED OR CARED WHAT CANADA THINKS. YOU ARE NOT A COUNTRY. YOUR MONEY HAS THE QUEEN OF ENGLAND ON IT. IF YOU DIG AROUND IN YOUR BACKYARD, NATIVE SKELETONS WOULD EXPLODE OUT OF YOUR LAWN LIKE THE END OF POLTERGEIST. CANADA IS SO POLITE, EH?; Fun Shoe

namaste faggots posted:

Oh word? Sounds like you've given up Poor Person virtue signaling between this and your pilot chat

I don't think I've been poor person virtue signalling especially since I've been straight up saying that I'm above the median, at all I see it more as pointing out that most of the fuckfaces in this thread are ridiculously well off compared to normal folk and need to stop acting like the majority of people in this country can afford to give a poo poo about the things that you can.

And now I'm gonna get some sweet sweet bailout money.

Enjoy renting and also being in post housing crash Vancouver LMAO.

# ? Jul 11, 2017 02:38

namaste friends: Sep 18, 2004; by Smythe

so literally middle class virtue signaling

# ? Jul 11, 2017 02:49

EvilJoven: Mar 18, 2005; NOBODY,IN THE HISTORY OF EVER, HAS ASKED OR CARED WHAT CANADA THINKS. YOU ARE NOT A COUNTRY. YOUR MONEY HAS THE QUEEN OF ENGLAND ON IT. IF YOU DIG AROUND IN YOUR BACKYARD, NATIVE SKELETONS WOULD EXPLODE OUT OF YOUR LAWN LIKE THE END OF POLTERGEIST. CANADA IS SO POLITE, EH?; Fun Shoe

I thought we established that 'middle class' by definition wasn't actually the middle at all, which is one of the reasons why 'middle class' is a completely poo poo term.

# ? Jul 11, 2017 02:52

namaste friends: Sep 18, 2004; by Smythe

EvilJoven posted:

I thought we established that 'middle class' by definition wasn't actually the middle at all, which is one of the reasons why 'middle class' is a completely poo poo term.

# ? Jul 11, 2017 02:53

Risky Bisquick: Jan 18, 2008; PLEASE LET ME WRITE YOUR VICTIM IMPACT STATEMENT SO I CAN FURTHER DEMONSTRATE THE CALAMITY THAT IS OUR JUSTICE SYSTEM.; Buglord

Middle class isn�t a a place, it�s a state of mind

# ? Jul 11, 2017 02:58

Postess with the Mostest: Apr 4, 2007; Arabian nights
'neath Arabian moons
A fool off his guard
could fall and fall hard
out there on the dunes

Risky Bisquick posted:

Middle class isn�t a a place, it�s a state of mind

That's what the zoloft is for

# ? Jul 11, 2017 03:00

Risky Bisquick: Jan 18, 2008; PLEASE LET ME WRITE YOUR VICTIM IMPACT STATEMENT SO I CAN FURTHER DEMONSTRATE THE CALAMITY THAT IS OUR JUSTICE SYSTEM.; Buglord

Postess with the Mostest posted:

That's what the zoloft is for

PTSD is the condition, middle class is the cure

# ? Jul 11, 2017 03:00

namaste friends: Sep 18, 2004; by Smythe

#depends

# ? Jul 11, 2017 03:02

EvilJoven: Mar 18, 2005; NOBODY,IN THE HISTORY OF EVER, HAS ASKED OR CARED WHAT CANADA THINKS. YOU ARE NOT A COUNTRY. YOUR MONEY HAS THE QUEEN OF ENGLAND ON IT. IF YOU DIG AROUND IN YOUR BACKYARD, NATIVE SKELETONS WOULD EXPLODE OUT OF YOUR LAWN LIKE THE END OF POLTERGEIST. CANADA IS SO POLITE, EH?; Fun Shoe

Who is or isn't middle class is actually determined by PM Selfie, thanks to the middle class tax cut.

So the middle class is anyone making between about 40 and 211K annually. Of course, seeing as the maximum benefit for the middle class tax cut is only achieved at incomes between $90K and 217K, that just means that some people are only somewhat middle class and some people are REALLY middle class.

# ? Jul 11, 2017 03:33

Mandibular Fiasco: Oct 14, 2012

EvilJoven posted:

Who is or isn't middle class is actually determined by PM Selfie, thanks to the middle class tax cut.

So the middle class is anyone making between about 40 and 211K annually. Of course, seeing as the maximum benefit for the middle class tax cut is only achieved at incomes between $90K and 217K, that just means that some people are only somewhat middle class and some people are REALLY middle class.

Is that individual income or family income?

# ? Jul 11, 2017 04:27

blah_blah: Apr 15, 2006

EvilJoven posted:

Can't wait for my bailout. It's gonna be sweet.

Thanks for the subsidy, suckers.

With your modest mortgage in your low CoL area I'm not exactly sure what you're hoping for. Watch it all go to homeowners in Toronto and Vancouver while your profligate neighbors drop the value of your house to zero.

# ? Jul 11, 2017 04:39

cowofwar: Jul 30, 2002; by Athanatos

Some Ontario CTF director shat out some garbage and CBC published it.

http://www.cbc.ca/news/opinion/airbnb-regulations-1.4195580

# ? Jul 11, 2017 05:38

namaste friends: Sep 18, 2004; by Smythe

and here you are posting it

Have you considered your part of the problem

# ? Jul 11, 2017 05:57

namaste friends: Sep 18, 2004; by Smythe

I saw this in the enroute magazine just now. 1.9 million to live in Edmonton lmao

# ? Jul 11, 2017 07:18

Terebus: Feb 17, 2007; Pillbug

namaste faggots posted:

and here you are posting it

Have you considered your part of the problem

Stop drunkposting

# ? Jul 11, 2017 07:41

Fried Watermelon: Dec 29, 2008

namaste faggots posted:

I saw this in the enroute magazine just now. 1.9 million to live in Edmonton lmao

im the beanbag chair

# ? Jul 11, 2017 14:23

HookShot: Dec 26, 2005

I'm the phrase "ultimate in Edmonton living"

# ? Jul 11, 2017 16:25

Mameluke: Aug 2, 2013; by Fluffdaddy

You would think "a livable sophistication and sustainability" would entail not building glass turds in a river valley?

The copy feels like it wasn't written by a native English speaker.

# ? Jul 11, 2017 16:31

leftist heap: Feb 28, 2013; Fun Shoe

Mameluke posted:

You would think "a livable sophistication and sustainability" would entail not building glass turds in a river valley?

The copy feels like it wasn't written by a native English speaker.

lol, how well written do you think most ad copy is?

# ? Jul 11, 2017 16:38

cowofwar: Jul 30, 2002; by Athanatos

Mameluke posted:

You would think "a livable sophistication and sustainability" would entail not building glass turds in a river valley?

The copy feels like it wasn't written by a native English speaker.

Ad copy is all generated by chain markov generators. There's more than enough poo poo out there to train them.

Doesn't matter what's in the ad copy anyways since the developers reserves the right to change everything.

# ? Jul 11, 2017 18:01

Baronjutter: Dec 31, 2007; "Tiny Trains"

We need procedurally generated condo brochures, everything from the copy to the renders could all be procedurally generated and still make millions on presales.

# ? Jul 11, 2017 18:30

unlimited shrimp: Aug 30, 2008

Mameluke posted:

You would think "a livable sophistication and sustainability" would entail not building glass turds in a river valley?

The copy feels like it wasn't written by a native English speaker.

It's registered to this guy so it was probably written by the (grandson of the) man himself:
http://www.cbc.ca/news/canada/edmonton/alberta-health-services-criticized-for-unlawful-suspension-of-surgeon-1.2971785

# ? Jul 11, 2017 18:40

cowofwar: Jul 30, 2002; by Athanatos

https://twitter.com/yvrhousing/status/884818344561360896

When the supply excess tanks prices, the good stuff will still be expensive while we're swimming in worthless micro condos.

# ? Jul 11, 2017 18:42

Mrs. Wynand: Nov 23, 2002; DLT 4EVA

Apparently 66% of people in BC live in a home they own. I'm suddenly not sure why I ever expected any government to fix the situation. It will "fix itself" the hard way and it's just a matter of who gets the bail outs.

# ? Jul 11, 2017 18:54

Baronjutter: Dec 31, 2007; "Tiny Trains"

Yet in Victoria it's about 60% renter.
Vancouver is about 50%
Toronto is about 50%
Canadian average is only 30%

Now I get why there's such a huge disconnect on housing policy and just "housing culture" or whatever between my self and everyone I know vs the rest of Canada.

# ? Jul 11, 2017 19:00

Mrs. Wynand: Nov 23, 2002; DLT 4EVA

Baronjutter posted:

Yet in Victoria it's about 60% renter.
Vancouver is about 50%
Toronto is about 50%
Canadian average is only 30%

Now I get why there's such a huge disconnect on housing policy and just "housing culture" or whatever between my self and everyone I know vs the rest of Canada.

where is them figures from? they would give me much hope

It's entirely possible the BC-wide figure is only as high as it is because of people outside Greater Van/Vic but that is 35% so it seemed wishfull thinking to just assume they account for a large portion of the 66% figure, but maybe not?

# ? Jul 11, 2017 19:04

James Baud: May 24, 2015; by LITERALLY AN ADMIN

Baronjutter posted:

Yet in Victoria it's about 60% renter.
Vancouver is about 50%
Toronto is about 50%
Canadian average is only 30%

Now I get why there's such a huge disconnect on housing policy and just "housing culture" or whatever between my self and everyone I know vs the rest of Canada.

There are stats like that about rental suites, too.
For houses in Metro Vancouver it's something like 70%, in any other major city it's more like 25%.

# ? Jul 11, 2017 23:04

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# ? May 23, 2024 11:46

Juul-Whip: Mar 10, 2008

Every day I see this and wince

# ? Jul 12, 2017 02:34

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