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Purgatory Glory posted:You're quality if life skyrockets when your rich boomer parents die. Perhaps, but I love my parents and my kids love their grandparents. I want them around and in my life. I hate the fact that our culture has devolved to the point where one of the few ways thought to even the playing field between generations is to get an inheritance.
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Sep 8, 2020 19:06
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Well, I'm officially a homeowner, the bubble can feel free to burst now.
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Sep 9, 2020 02:27
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I think we root for the bubble now that we're part of the problem
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Sep 9, 2020 02:46
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This is the best place on earth and they aren't making more land. Get in now or be condemned to be a rentailer dalit or what ever CI used to say.
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Sep 9, 2020 04:13
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odiv posted:How's the fire situation there these days? I imagine the FIRE situation is pretty hot too, despite the fires.
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Sep 9, 2020 08:10
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I was under the impression that the banks were looking at extending terms rather than doing this but hey, now we get to see the 50-60% of people who report that they couldn't afford an extra 200/mo start to dance! https://twitter.com/JaneMoneypenny/status/1303451085697355778?s=19 (Although depending on how much was owed, maybe that is just the extra interest on an extended term) Sassafras fucked around with this message at 03:54 on Sep 10, 2020 |
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Sep 10, 2020 03:51
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It shouldn't come as a surprise that you're expected to amortize the interest over that period. It was very well publicised.
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Sep 10, 2020 03:54
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 $10 more will send a family into debtors prison thanks trudeau
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Sep 10, 2020 04:15
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qhat posted:It shouldn't come as a surprise that you're expected to amortize the interest over that period. It was very well publicised. I mean when you market as "Helping out" and "relief" there is some expectation of actual sacrifice not just LOL gonna charge u later. I can forgive people for not paying attention to the 3rd paragraph of every ad or new story being like "this is essentially useless"
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Sep 10, 2020 04:36
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Expecting a bank to sacrifice on your behalf is the first catastrophic mistake there
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Sep 10, 2020 06:37
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Sassafras posted:I was under the impression that the banks were looking at extending terms rather than doing this but hey, now we get to see the 50-60% of people who report that they couldn't afford an extra 200/mo start to dance! lmao
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Sep 10, 2020 12:59
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The Prime Minister of Canada coming to rescue someone who's fallen behind on their mortgage sounds like something out of a south park episode.
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Sep 10, 2020 13:43
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Sell the house, while you're still above water.
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Sep 11, 2020 04:13
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Purgatory Glory posted:Sell the house, while you're still above water. but my investment!!!!
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Sep 11, 2020 05:52
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half cocaine posted:
It's 210 more per month. That seems like a lot to me.
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Sep 11, 2020 06:47
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mila kunis posted:It's 210 more per month. That seems like a lot to me. My landlord was doing this to everyone in the building every year for years and Horgan still dragged his feet closing that loophole. No matter what a home owner is whining about, renters always have it so much worse but no one gives a gently caress about them.
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Sep 11, 2020 06:51
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How much interest are you walking around with if just six months of deferral turns into $210 more monthly for the rest of your term? This is going to bug me for the rest of the day. It must be either a super young mortgage or there’s something else I’m missing.
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Sep 12, 2020 12:45
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Did they say it’s for the rest of the term, or just until the deferral is caught up?
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Sep 12, 2020 14:32
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Seat Safety Switch posted:How much interest are you walking around with if just six months of deferral turns into $210 more monthly for the rest of your term? it's must be a massive mortgage at high interest
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Sep 12, 2020 14:44
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RBC posted:it's must be a massive mortgage at high interest Its probably a fresh mortgage with a large bulk. A 600k mortgage that's less than 2 years old would probably see this increase
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Sep 12, 2020 14:54
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Observations on Canadian financial situations: I've been watching lots of the NBA and NHL playoffs on Sportsnet and TSN. Lots of sub-prime mortgage/lending (cash-money, capital direct) commercials, more than in the past I think. Certainly presented very positively. But then these have been around for a while, I'm sure regionally there are tons of small ones during local broadcasts. But at the same time, I know 5 couples who bought houses in the last month. None of them are stable dual-income and they all explicitly will talk about problems at work. One is also buying a Tesla SUV because "it's time to upgrade". Calgary's oil economy has pretty much entirely collapsed but it hasn't had any effect on house prices or overall rent. Rental availability has gone up but prices never really dropped. I do know multiple people with condos who bought in the last 3-5 years who can't sell now because they'd be too underwater. I've posted a few times in this thread recently that I'm likely moving to Toronto for work at some point - covid has delayed but not stopped the plan - and I've been monitoring Toronto rentals. There's an unbelievable amount of lovely condos for rent. Again in the 8+ months I've been watching, prices haven't budged. A lovely rental house (main floor) or townhome still barely comes on market, and they're ungodly expensive (over 3.5K+) when it does happen. To the thread title: I'm doing some business with Hootsuite, for a really basic business process they should have had in place 7+ years ago especially when they thought they could go public, and they're being hilariously unreasonable because there's not a single experienced person there. I think like the posters who bought houses in the last couple of weeks, I'm resigned to this being unchanged. Not a single semi-mainstream Canadian figure (politician, business, columnist) even pretends to give lip-service, and the Canadian public certainly doesn't. My career trajectory would be much better in Toronto long-term so it's still probably worth moving for at least a try, but drat it is going to suck spending that much.
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Sep 13, 2020 05:01
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The only thing that I can see changing things in the short term is if there is no extension of the mortgage payment deferrals, and people who lost their jobs now have to start making higher mortgage payments in October with their nonexistent income.
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Sep 13, 2020 05:23
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There will be an extension of mortgage deferrals because my equity depends on it. Wake up sheeple
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Sep 13, 2020 05:52
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Personally I never plan to buy. If at some point in the future it makes financial sense, or I can do it without a mortgage, I'll do it. Else, gently caress it, renting is working fine for me, I'm still saving good money and gross rental yield is less than 4% in the major cities. I don't really have any incentive to own and I'm cool with that.
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Sep 13, 2020 08:13
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sleep with the vicious posted:I think like the posters who bought houses in the last couple of weeks, I'm resigned to this being unchanged. Not a single semi-mainstream Canadian figure (politician, business, columnist) even pretends to give lip-service, and the Canadian public certainly doesn't. It can always get to a point where it can't remain unchanged, and government intervention ultimately won't be able to stop a correction.
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Sep 13, 2020 20:28
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i would be fine with renting forever if landlords werent universal scum
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Sep 13, 2020 21:46
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Big takeaway from this garbage op-ed is: I sure hope Josh Gordon has tenure and/or don't get a poli sci degree at SFU. quote:The ‘supply crisis’ in Canada’s housing market isn’t backed up by the evidence Yes demand is very strong. What's the way Gordon wants to satiate the demand without increasing supply? Lowering immigration? No solutions actually laid out here of course. Not noted is that we actually did implement an array of demand side measures such as as the foreign buyer tax and the speculation tax, which did cool prices (pre-pandemic). Were those not sufficient? quote:If anything, Canadian cities with the highest share of single-detached houses have the least intense affordability challenges – the opposite of the hypothesized relationship. Wow you're telling me that random SFH dominated small towns with no industry are more affordable than Vancouver and Toronto, the only places where there has been any economic growth in Canada for the last several years? Remarkable. I wonder if there could be any other reason for this.
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Sep 13, 2020 22:21
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A rising tide lifts all boats so make sure you write your mp to remind them to work with your friendly developer!
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Sep 14, 2020 00:52
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sleep with the vicious posted:I think like the posters who bought houses in the last couple of weeks, I'm resigned to this being unchanged. Not a single semi-mainstream Canadian figure (politician, business, columnist) even pretends to give lip-service, and the Canadian public certainly doesn't. My career trajectory would be much better in Toronto long-term so it's still probably worth moving for at least a try, but drat it is going to suck spending that much. I think there's some progressive mayors out there that would love to get into creating public housing in a big way, but unfortunately these are the politicians that have the absolute weakest ability to do anything about housing. Not public housing, but coincidentally Vancouver's mayor just threw this big policy on the table for debate and he even made a shiny website for it. https://twitter.com/kennedystewart/status/1305616029364621313?s=20 Multi-units on a single Vancouver lot, with some restrictions on price to create some meagre middle class affordability? some further details here. https://twitter.com/fabulavancouver/status/1305620572605276160?s=20
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Sep 14, 2020 22:55
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It'd be good if Vancouver didn't have the lowest property tax in the entire of North America. Something the mayor is in fact capable of increasing.
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Sep 14, 2020 23:55
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qhat posted:It'd be good if Vancouver didn't have the lowest property tax in the entire of North America. Something the mayor is in fact capable of increasing. Lowest property tax rate. Which kinda matters when the like half of the land values in your city start at $3M. The rate would be a lot higher if typical houses were $300k. He should raise property taxes, but he's just one voice on council and Vancouverites keep voting in centre-right people that aren't gonna raise taxes that much. (or let's be more clear, Vancouverites progressive or not aren't showing up to vote in the municipal election at all)
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Sep 15, 2020 00:00
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The Russians built apartments.
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Sep 15, 2020 00:33
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yippee cahier posted:The Russians built apartments. Have you no pride of ownership, sir?
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Sep 15, 2020 01:13
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Femtosecond posted:I think there's some progressive mayors out there that would love to get into creating public housing in a big way, but unfortunately these are the politicians that have the absolute weakest ability to do anything about housing. Unfortunately, one of the features of the Vienna model is that Vienna is considered its own province for the purposes of government. So all of the stuff run at the BC provincial level here -- public housing, healthcare, etc -- gets handled by the city there. Municipal governments have relatively very little budget or control.
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Sep 15, 2020 01:35
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Am I missing something? Isn't this just going to encourage cramped little one-room box apartments even more?
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Sep 15, 2020 01:45
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Flater posted:Am I missing something? Isn't this just going to encourage cramped little one-room box apartments even more? How do you expect the developers and architects to make money if they aren't allowed to increase supply? What will they do instead?
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Sep 15, 2020 02:02
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Is "Own a microhovel for JUST 80,000/year" a faux pas that will piss off the poverty set?
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Sep 15, 2020 02:05
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half cocaine posted:How do you expect the developers and architects to make money if they aren't allowed to increase supply? What will they do instead? I also didn't see any talk of making sure the apartments are uniform in size and quality. Can't wait for them to turn two basement closets into defacto servants quarters
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Sep 15, 2020 02:07
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Flater posted:Am I missing something? Isn't this just going to encourage cramped little one-room box apartments even more? No, no, you share on heating costs and exterior maintenance in an apartment. These are detached units.
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Sep 15, 2020 02:08
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yippee cahier posted:No, no, you share on heating costs and exterior maintenance in an apartment. These are detached units. From the site: "But Sarah wants to take advantage of Making HOME to change that. She hires a builder to redevelop her one big, empty home into four smaller homes. She keeps one of the units for herself, she sells two of the remaining market homes to a couple of young professionals, and she sells the guaranteed middle-income home to her daughter who makes $80,000 a year." Are you sure about that? Sounds like it is talking about turning larger homes into attached/multi-dwelling structures to me.
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Sep 15, 2020 02:12
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