|
The Butcher posted:HMMJ? You should be sitting pretty right now then. Obvs I'm bad at this but I'd expect it to peter off towards legalization day, I'd sell sometime before. No, another fund with a mix of real companies and weed companies in it, so it's not a complete gamble (no pun intended, P&G actually are in the fund). And I just got into it, so there's no return yet. The fund's performance in the last year has been pretty significant already, but there's still room for it to go up, and I'm not looking for a huge payoff. Plus I didn't put much money into it (unlike a house that cannot be diversified, amirite) so its more for fun than anything else.
|
#
?
Aug 19, 2018 00:40
|
|
|
|
| # ? May 24, 2024 15:19 |
|
|
I like being able to travel to the US. There’s no way I’d touch a weed fund until border guards stop giving lifetime bans to people entering the country if they’ve invested in anything related to that industry.
|
|
#
?
Aug 19, 2018 00:44
|
|
|
And I thought I was paranoid sometimes lol.
|
|
#
?
Aug 19, 2018 01:08
|
|
|
Evis posted:I like being able to travel to the US. There’s no way I’d touch a weed fund until border guards stop giving lifetime bans to people entering the country if they’ve invested in anything related to that industry. Yeah, that's a bit of an overreaction. The fund is an alternative health fund. I'm not a shareholder, I have shares in an investment fund. Plus, the guy who got himself in all that trouble apparently was travelling with all sorts of drug paraphernalia in his car on the front seat.
|
|
#
?
Aug 19, 2018 01:39
|
|
|
Lol at the low mortgage: Edit: Source / Detail James Baud fucked around with this message at 03:28 on Aug 19, 2018 |
|
#
?
Aug 19, 2018 02:38
|
|
|
James Baud posted:Lol at the low mortgage: Definitely need to save $60k a year for 18 years in a tax advantaged account to be able to afford college for 2 kids these days.
|
|
#
?
Aug 19, 2018 02:52
|
|
|
blah_blah posted:Definitely need to save $60k a year for 18 years in a tax advantaged account to be able to afford college for 2 kids these days. Also gotta give away another $25k in charity per year too.
|
|
#
?
Aug 19, 2018 03:37
|
|
|
James Baud posted:Lol at the low mortgage: Where in NYC (except maybe Forest Hills Gardens) are you going to have ridiculous landscaping costs to maintain on properties, anyway?  Kommienzuspadt posted:Also gotta give away another $25k in charity per year too. I like how political fundraising got put in charity, even though it's not charity and not tax deductible as charity. Edit: Also if they're that wealthy they probably have a summer house in the Hamptons or Martha's Vineyard. Horseshoe theory fucked around with this message at 03:55 on Aug 19, 2018 |
|
#
?
Aug 19, 2018 03:43
|
|
|
James Baud posted:Lol at the low mortgage: Yeah, because this is representative of so many people!
|
|
#
?
Aug 19, 2018 03:57
|
|
|
Mandibular Fiasco posted:Yeah, because this is representative of so many people! Well, my favourite part is the alarm in the comments on the OP at how high their mortgage is since it'll be a big problem if she loses the job. When, of course, by Vancouver standards you should be so lucky as to get a nice place for 1.5m (+12-25%)
|
|
#
?
Aug 19, 2018 04:09
|
|
|
Yes but house prices in Vancouver will never go down so it's a risk free investment.
|
|
#
?
Aug 19, 2018 04:20
|
|
|
https://twitter.com/vanreport/status/1030953165451980800?s=21 Unequivocal proof that cacs make housing unaffordable. The Vancouverite is still sadly crippled by the manacles of CACsand the chains of sfh zoning. One hundred years later, the Vancouverite lives on a lonely island of poverty in the midst of a vast ocean of material prosperity. One hundred years later, the Vancouverite is still languished in the corners of Canadian society and finds himself an exile in his own land. Mayor Gregor, free is from these chains of red tape and let the developers deliver us from the shame of renting.
|
|
#
?
Aug 19, 2018 04:59
|
|
|
https://twitter.com/rohanarezel/status/1030979119800967168?s=21 But housing in Vancouver is actually affordable here look at my GitHub filled with R data science
|
|
#
?
Aug 19, 2018 05:19
|
|
|
Mandibular Fiasco posted:Yeah, that's a bit of an overreaction. The fund is an alternative health fund. I'm not a shareholder, I have shares in an investment fund. Given that added detail the story makes more sense. That was not included in the articles I read.
|
|
#
?
Aug 19, 2018 05:24
|
|
|
Evis posted:Given that added detail the story makes more sense. That was not included in the articles I read. No, this pertinent detail never made the press. Supposedly well known in law enforcement circles that there was more to the story. My information is second hand, so it could well be wrong, but I have no reason to disbelieve this person.
|
|
#
?
Aug 19, 2018 05:30
|
|
|
Dinosaurtrain posted:https://twitter.com/rohanarezel/status/1030979119800967168?s=21 The 'R' stands for "race to regression" which is what every good data scientist should do. Oh, and ggplot everything you possibly can. Chad what-his-name from the Vancouver Sun, the 'data journalist' whose formal education in the field consists of nothing, would be so proud. Measures of central tendency for the win, amirite? Edit: In before 'the value is in the land'. Yeah, no speculation happening here!
|
|
#
?
Aug 19, 2018 05:33
|
|
|
In particular gently caress Jens von bergman
|
|
#
?
Aug 19, 2018 05:41
|
|
|
Dinosaurtrain posted:In particular gently caress Jens von bergman the eric grenier of #vanre
|
|
#
?
Aug 19, 2018 05:45
|
|
|
Majuju posted:the eric grenier of #vanre No that's definitely Chad "um excuse me a non zeroed y axis is wrong" Skelton Bergman is the guy with autism who won't shut the gently caress up about 0.999999999 = 1 in a French literature class
|
|
#
?
Aug 19, 2018 05:51
|
|
|
Dinosaurtrain posted:https://twitter.com/rohanarezel/status/1030979119800967168?s=21 I don't even get what happened here... Someone bought the house, knocked it down with the intent of building something bigger and flipping but the market downturned midway through demolition so its TIME TO SELL? That's bonkers.
|
|
#
?
Aug 19, 2018 06:04
|
|
|
Snuffman posted:I don't even get what happened here...
|
|
#
?
Aug 19, 2018 06:06
|
|
|
To be fair the house itself was probably only assessed at like $50K value. It looks very Vancouver special-y.
|
|
#
?
Aug 19, 2018 06:38
|
|
|
Snuffman posted:I don't even get what happened here... Landlord-tenant eviction dispute?
|
|
#
?
Aug 19, 2018 07:01
|
|
|
Literally had to check to make sure that wasn't my father in law's place lmao
|
|
|
#
?
Aug 19, 2018 14:41
|
|
|
James Baud posted:Lol at the low mortgage: stopped reading at "We know that a $300,000/year household income is pretty middle class"
|
|
#
?
Aug 19, 2018 16:12
|
|
|
Mandibular Fiasco posted:Ha, I tossed some fun money into a diversified weed fund last week. Should be entertaining. Diversified how? Geographically?
|
|
#
?
Aug 19, 2018 17:04
|
|
|
Lobok posted:Diversified how? Geographically? No, mixed with real companies that sell things that aren't weed. Proctor and Gamble, Abbott Labs, J&J, Jamieson, and others, along with a bunch of companies in the cannabis business (CannTrust, Canopy, MedReLeaf, a few others). It's still high risk, but it's not a lot of money and diversified enough that I don't expect to lose anything. I have reasonable performance targets for my investments, and so I don't need to double my money in two months (though I wouldn't complain if it did!)
|
|
#
?
Aug 19, 2018 17:56
|
|
|
I'm attending a wedding in the bridle path neighbourhood. It's a $3k a night Airbnb and as I went out to offer beers to the valets there was a local in a 911 Carrera bitching them out about the drat Asians renting their place out every god-damned weekend and it was very CI.
|
|
#
?
Aug 20, 2018 00:25
|
|
|
RBC posted:stopped reading at "We know that a $300,000/year household income is pretty middle class" lol quote:This post will give you a taste of what it’s like to make $1 million a year. You’ll also get to decide whether making a top 0.1% income is truly worth the price.
|
|
#
?
Aug 20, 2018 01:08
|
|
|
Holy crap, Reddit has just brought it to my attention that millennials (and fellow momentum speculators) are even bigger idiots than I realized. I sort of knew this in the abstract because of hearing stories from other people about asking price for new townhomes in the suburbs being well over a million a while back, but how the christ did every single 1br condo built in the last fifteen years go above 600k ask? Zero appreciation for just how much money that is because of the "prices don't go down" conviction that they'll never have to pay it back anyway. https://www.reddit.com/r/PersonalFinanceCanada/comments/98p1n5/am_i_crazy_for_thinking_of_buying_in_vancouver/ posted:Am I crazy for thinking of buying in Vancouver? 78k salary +160k savings Yeah, you hate living in a basement suite, go commit financial suicide instead of just moving to another rental. (I guess she already waited for the will)
|
|
#
?
Aug 20, 2018 04:35
|
|
|
James Baud posted:Holy crap, Reddit has just brought it to my attention that millennials (and fellow momentum speculators) are even bigger idiots than I realized. What I really want to know is what people are going to talk about when the market has crashed and there is no more windfall to be made flipping houses or condos, and people have to actually do real work to earn money? The absence of mathematical literacy never ceases to amaze me.
|
|
#
?
Aug 20, 2018 05:34
|
|
|
We keep talking about a hypothetical crash but I can’t seem to find any evidence of it. I’m not trolling but I just don’t see property being affordable for milennials anymore. My more sympathetic boomer colleagues at work tell me how the future likely lies in older people sharing large paid off houses and living together and also younger people living together as multiple families as well. What I see happening instead is a series of corrections. For instance a lot of properties are selling under asking in 2018 and the market has cooled slightly. But a decade from now I think the prices will still be higher than what they are today. It’s too late. I think 1999 was the last year you could find reasonably affordable property near a major city or a 3000 square foot detached house in a suburb. From now on I can’t see prices ever going down to that level of affordability again. They’ll drop and gently caress over investors. But anyone looking to be an owner-occupier is poo poo out of luck.
|
|
#
?
Aug 20, 2018 14:56
|
|
|
Vancouver real estate and Canadian real estate are two different beasts. I don't see Vancouver real estate being higher in a decade. China somehow stopped the outflow of dirty money and that's a bigger deal than anything the NDP is doing.
|
|
|
#
?
Aug 20, 2018 15:26
|
|
|
Kraftwerk posted:We keep talking about a hypothetical crash but I can’t seem to find any evidence of it. The phrase you're looking for is "soft landing".
|
|
#
?
Aug 20, 2018 15:32
|
|
|
Postess with the Mostest posted:The phrase you're looking for is "soft landing". 
|
|
#
?
Aug 20, 2018 16:32
|
|
|
Postess with the Mostest posted:The phrase you're looking for is "soft landing". Also, "it's different this time".
|
|
#
?
Aug 20, 2018 16:42
|
|
|
Kraftwerk posted:We keep talking about a hypothetical crash but I can’t seem to find any evidence of it. Real estate is definitely not affordable for me. I'm in a prestigious medical training program and our leadership has historically always encouraged us to buy because we are guaranteed to be in the metro area for ~8yrs and we have pretty much bulletproof job security from now until infinity and the promise of high future incomes. I think ~4/9 of us ended up buying. I wasn't one of them. The ones that did, of course, typically had hella help from their parents, but it still didn't always end up making financial sense. One of my classmates bought a condo in a "revitalized" neighborhood for ~650k. His mortgage is almost $3k/month alone because he (more accurately his dad) put down like 10%. In related US real estate news ... https://www.attomdata.com/news/market-trends/foreclosures/july-2018-u-s-foreclosure-market-report/ quote:IRVINE, Calif. – Aug. 21, 2018 — ATTOM Data Solutions, curator of the nation’s premier property database, today released its July 2018 U.S. Foreclosure Market Report, which shows that foreclosure starts increased from a year ago in 96 of the 219 metropolitan statistical areas (44 percent) analyzed in the report. Kommienzuspadt fucked around with this message at 16:33 on Aug 21, 2018 |
|
#
?
Aug 21, 2018 16:28
|
|
|
Also, holy poo poo: https://www.nationalmortgagenews.co...fe-feafb2c90000 (archive.is link for full text : http://archive.is/COk3m ) Race to the bottom? Nonbanks ease standards to compete for 'super' jumbos quote:An uptick in private investor liquidity is bringing more nonbank lenders into the market for super jumbo mortgages, often with weaker credit standards than the banks that traditionally dominate this niche. $3M home with 95% LTV and a FICO <700?? Are they high? Kommienzuspadt fucked around with this message at 17:03 on Aug 21, 2018 |
|
#
?
Aug 21, 2018 17:00
|
|
|
Kommienzuspadt posted:$3M home with 95% LTV and a FICO <700?? Are they high? You also probably need to make ~1M a year to get the full 3M, based on my recent experiences with 'super jumbo' loans. If anything I was surprised at how little people were willing to loan me.
|
|
#
?
Aug 21, 2018 18:46
|
|
|
|
| # ? May 24, 2024 15:19 |
|
|
blah_blah posted:You also probably need to make ~1M a year to get the full 3M, based on my recent experiences with 'super jumbo' loans. If anything I was surprised at how little people were willing to loan me. Same article : quote:In addition to raising maximum loan balances, lenders are easing other terms as well, including going up to 95% loan-to-value ratios. If a borrower has a large enough nest egg of liquid assets, some lenders are also willing to forego traditional employment and income verifications. Obviously this doesn't necessarily apply to the Caliber "Elite Access" package, so take that for what it's worth. Even at $1M, 95% LTV is a $50k deposit on a $1M home... Can I ask where you were looking to buy/what lenders you shopped around at?
|
|
#
?
Aug 21, 2018 18:56
|
|