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.

McGavin: Sep 18, 2012

A 0.5 to 1% rate hike? Probably not a lot other than a slightly lower CAD. I don't think that BoC would hike rates considering the current state of Canada's economy. The IMF was squawking that USD denominated debt would be more expensive thanks to currency depreciation, which would hurt investment in developing countries and increase instability in global financial markets that were already pretty unstable due to the whole China thing. The risk of hurting the global economy coupled with lower than expected job growth numbers in the US probably made the Fed reconsider the whole thing.

# ? Sep 17, 2015 19:52

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# ? Jun 4, 2024 05:59

Franks Happy Place: Mar 15, 2011; It is by weed alone I set my mind in motion. It is by the dank of Sapho that thoughts acquire speed, the lips acquire stains, stains become a warning. It is by weed alone I set my mind in motion.

McGavin posted:

A 0.5 to 1% rate hike? Probably not a lot other than a slightly lower CAD. I don't think that BoC would hike rates considering the current state of Canada's economy. The IMF was squawking that USD denominated debt would be more expensive thanks to currency depreciation, which would hurt investment in developing countries and increase instability in global financial markets that were already pretty unstable due to the whole China thing. The risk of hurting the global economy coupled with lower than expected job growth numbers in the US probably made the Fed reconsider the whole thing.

When the Fed raises rates it will affect Canadian 5-year mortgage rates directly.

# ? Sep 17, 2015 20:40

HookShot: Dec 26, 2005

Cool, thanks.

I get paid in USD so boooooo.

# ? Sep 17, 2015 21:13

leftist heap: Feb 28, 2013; Fun Shoe

blah_blah posted:

CI, you have to watch this:

http://magnasearchgroup.tv/2015/09/16/big-game-hunters-014/

jesus christ

hoot suite HOOT SUITE HOOT SUITE

# ? Sep 18, 2015 00:26

Franks Happy Place: Mar 15, 2011; It is by weed alone I set my mind in motion. It is by the dank of Sapho that thoughts acquire speed, the lips acquire stains, stains become a warning. It is by weed alone I set my mind in motion.

Franks Happy Place posted:

When the Fed raises rates it will affect Canadian 5-year mortgage rates directly.

To clarify what I meant by this for the thread since I was phone posting this: the 5-year mortgage rate market in Canada is based on the cost of raising capital for banks, which even in Canada is based on the U.S. Fed rate. Our Bank of Canada rate is important for a lot of things (value of the dollar, student loans, etc.), but it doesn't really impact long-term mortgage markets as much as the Fed rate.

# ? Sep 18, 2015 00:44

etalian: Mar 20, 2006

rrrrrrrrrrrt posted:

jesus christ

hoot suite HOOT SUITE HOOT SUITE

vancouver is the kids table of the tech industry

# ? Sep 18, 2015 01:44

Rime: Nov 2, 2011; by Games Forum

I hear Hoot Suite pays their employees now, so that's cool I guess.

I applied for a job there. :v:

# ? Sep 18, 2015 01:50

HookShot: Dec 26, 2005

Franks Happy Place posted:

To clarify what I meant by this for the thread since I was phone posting this: the 5-year mortgage rate market in Canada is based on the cost of raising capital for banks, which even in Canada is based on the U.S. Fed rate. Our Bank of Canada rate is important for a lot of things (value of the dollar, student loans, etc.), but it doesn't really impact long-term mortgage markets as much as the Fed rate.

Does the value of the CAD affect this at all? ie. with the drop in the CAD should there be a change in interest rates coming up? I feel like enough time has passed that maybe not, but again, I know nothing about this stuff.

# ? Sep 18, 2015 01:50

OhYeah: Jan 20, 2007; 1. Currently the most prevalent form of decision-making in the western world

2. While you are correct in saying that the society owns

3. You have not for a second demonstrated here why

4. I love the way that you equate "state" with "bureaucracy". Is that how you really feel about the state

TROIKA CURES GREEK posted:

They could have sat there in the cockpit giving each other handies and the plane would have been perfectly fine, if a little offcourse. That's why everyone was speculating it was something crazy like positive lightning or something that brought it down at first because no one imagined the pilots would be that dumb. It wouldn't be too difficult to automate them better than a lovely pilot but they certainly wouldn't be doing a Sullenburger landing. Let's just say the vast improvement in safety certainly hasn't been because of the pilot, who is on average younger, less trained, under-paid, and over-worked, compared to years ago.

http://www.vanityfair.com/news/business/2014/10/air-france-flight-447-crash

What makes it really tragic is the fact that there was an experienced pilot on the plane, but as he was out partying with women the former evening, he only got 2 hours of sleep and went to take a nap immediately after takeoff. When he entered the cockpit, everything was in chaos already and in the confusion he couldn't figure out what was wrong... until it was too late to do anything about it. Reading the cockpit conversation in the last few minutes before the crash is simply horrifying.

# ? Sep 18, 2015 06:28

Kafka Esq.: Jan 1, 2005; "If you ever even think about calling me anything but 'The Crab' I will go so fucking crab on your ass you won't even see what crab'd your crab" -The Crab(TM)

Rime posted:

I hear Hoot Suite pays their employees now, so that's cool I guess.

I applied for a job there.

This is the most VANcouver post.

# ? Sep 18, 2015 16:12

McGavin: Sep 18, 2012

This is the most Vancouver link.

# ? Sep 18, 2015 17:22

Furnaceface: Oct 21, 2004

McGavin posted:

This is the most Vancouver link.

My first impressions - Its the White House with a giant erection behind it.

# ? Sep 18, 2015 18:41

Juul-Whip: Mar 10, 2008

"The Canvas will incorporate much of the existing architectural elements of the original Art Gallery, shooting into the sky like a glass obelisk, a beacon to Vancouver�s premier taste. "

It's really a natural extension of the existing building. Like it was always there. Barely tell it's new.

# ? Sep 18, 2015 18:50

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

Lmao 'premier taste'

# ? Sep 18, 2015 18:55

Rime: Nov 2, 2011; by Games Forum

It's been pointed out elsewhere that that whole page is fake and set up to support a "save the VAG" scam fundraiser.

Anyways, this is funny:

Metro Vancouver Families Trapped In Starter Homes!!!!1111

quote:

Erin Welch and Valerie Griffiths are trying to find a bigger place so their family of four can move out of their 850-squarefoot condo, but like so many would-be home buyers in Metro Vancouver, they are finding it nearly impossible.

The couple, who would prefer to stay in Mount Pleasant - close to their workplaces and daycare for children Tate, 5, and two-year-old Lydia - say even with a $600,000 budget, they may have to leave the city to find affordable housing.

"We are both transplants to Vancouver and love everything about it, except the cost of living with housing. A detached house would be the dream, but that's out of reach," Welch said. "We are looking for a three-bedroom townhouse or a two-bedroom place for less, but aren't finding anything."

A report from Vancity released Thursday found a family would have to have a minimum down payment of nearly a quarter of a million dollars to afford a detached house in Metro Vancouver, which now has a typical price of $1.16 million. The family would also need to have an annual household income of more than $159,150. Of all the homes sold in Metro Vancouver in August, 38 per cent were detached houses, while 17 per cent were attached properties such as townhomes and row houses.

The typical price for an attached property was $511,500, requiring a down payment of $25,575 and an annual income of $86,364.

Apartments, which make up 45 per cent of Metro Vancouver's housing stock, typically cost $405,400, requiring a down payment of $20,045 and a household income of $68,438.

The median income for millennials in Metro Vancouver was $32,746 in 2014, translating to $65,472 for a two-income family, according to the report.

While apartments are the most affordable, the report notes they are not suitable for families.

"We wanted to point out there's a real lack of units that are appropriate for families," said Andy Broderick, Vancity CEO of impact marketing development. "The efficiency units that a $65,000 dualincome family can really afford is probably around $400,000, but these are typically 400 square feet - not ideal for families."

Three bedrooms is considered optimal for families with two children, according to the Canadian National Occupancy Standard, but only 1.7 per cent of Metro Vancouver's housing stock in 2014 were three-bedroom condos, while nine per cent were three-bedroom attached properties. According to the report, of Metro's 212,668 apartment units, 91 per cent were two bedrooms or less.

"People are jammed in quarters that are less than ideal and couples are putting off starting their families," Broderick said.

He said some families are making the choice to leave Metro Vancouver because of the lack of affordability.

"If you want to keep families in the Lower Mainland," he said, "you have to make sure the units they need are hitting the market."

Vancouver, New Westminster and White Rock had the lowest number of three-bedroom attached properties, which ranged from 1.6 to 4.9 per cent of their housing stock, according to the report. Port Moody had the highest number at 20.2 per cent.

In decades past, the report says, North Americans would begin in a starter home,

grow their financial assets and upgrade to a second-stage family home to raise a family. The third stage was downsizing into a retirement home that would free up cash.

"But this progression is threatened. Even if young families in Metro Vancouver own their starter home, this report indicates that they may be trapped with no ability to upgrade," the report states. "The current housing market lacks homes that are affordable, suitable and available, and this situation will cause more young families to be housetrapped as time goes on."

Penny Gurstein, a UBC professor and director of the School of Community and Regional Planning and the Centre for Human Settlements, researches strategies for affordable home ownership and rental housing.

"A lot of developers are quite cautious," she said, "and they want to build what they know. It's mainly the economics of it: when you build smaller units, you can get more units and more revenue.

"The city is trying to do whatever they can to encourage them (to build familyfriendly homes), but I don't necessarily think some of the solutions they have are the best for families. Yes, families can live in highrises, but medium-rises might be better for families."

She said to address the housing affordability issue, there has to be government intervention. She said solutions could include tax credits to encourage developers to build more townhomes, and giving subsidies to non-profit groups to spur more co-op housing.

She said more flexible homes should be built, such as apartments where part of the unit can be locked off to be used as a secondary suite, and reclaimed when a family grows and needs more space.

Some of Vancity's recommendations include: Providing a new housing development tax credit as an incentive for developers to create affordable family housing.

Changing zoning bylaws to stipulate that developers must include affordable three-bedroom or more housing in all multi-housing developments.

Creating density bonuses for developers who are willing to build affordable housing. Cities should also consider offering one-time or temporary reduced fees and property taxes.

The federal government should offer programs and incentives to families to help them save for a down payment.

Reducing the minimum down payment for a co-op unit. Families currently must put down 35 per cent to buy a co-op unit.

kpemberton@vancouversun.com

The high price of owning a home

While apartments are the most affordable solution in Metro Vancouver, the majority have two bedrooms or less

38% were detached properties; typical price of $1,159,600

Minimum down payment: $231,920 (20% down payment required on properties over $1 million)

Annual household income: more than $159,150 to be affordable

17% were attached properti typical price of $511,500

Minimum down payment: $25,575 (5%)

Annual household income: more than $86,364

45% were apartments; typical price of $405,400

Minimum down payment: $20,045 (5%)

Annual household income: more than $68,438

In 2014, median total income for Millennials in Metro Vancouver about $32,746, translating to an annual household income of $65,492 for dual-income families.

OF THE HOMES SOLD IN METRO IN AUGUST:

38% were detached with a typical price of $1,159,600

Minimum down payment of $231,920 needed (20 per cent required for homes over $1 million)

Annual household income of $159,150 to be affordable

loving hell people. :psypop:

# ? Sep 18, 2015 19:39

sbaldrick: Jul 19, 2006; Driven by Hate

THC posted:

"The Canvas will incorporate much of the existing architectural elements of the original Art Gallery, shooting into the sky like a glass obelisk, a beacon to Vancouver�s premier taste. "

It's really a natural extension of the existing building. Like it was always there. Barely tell it's new.

Why does Toronto keep letting people ruin their classical public buildings?

# ? Sep 18, 2015 19:47

P.d0t: Dec 27, 2007; I released my finger from the trigger, and then it was over...

Are we arguing about 'old stock Canadians' ITT? because this is the dumbest thing currently in the news cycle, IMHO.

# ? Sep 18, 2015 20:12

Juul-Whip: Mar 10, 2008

It's ok, im ethnic WASP

# ? Sep 18, 2015 20:16

the talent deficit: Dec 20, 2003; self-deprecation is a very british trait, and problems can arise when the british attempt to do so with a foreign culture

Rime posted:

I hear Hoot Suite pays their employees now, so that's cool I guess.

I applied for a job there.

still not true.

# ? Sep 18, 2015 20:27

Wistful of Dollars: Aug 25, 2009

HookShot posted:

Cool, thanks.

I get paid in USD so boooooo.

Here we find HookShot and the husband at home:

# ? Sep 18, 2015 20:31

HookShot: Dec 26, 2005

El Scotch posted:

Here we find HookShot and the husband at home:

Yeah this is basically true.

It's funny how I get pay rises/cuts depending on the Canadian economy more than anything else. 2008/9 was a really, really bad time for me.

# ? Sep 18, 2015 21:41

Rime: Nov 2, 2011; by Games Forum

HookShot posted:

Yeah this is basically true.

It's funny how I get pay rises/cuts depending on the Canadian economy more than anything else. 2008/9 was a really, really bad time for me.

Why not instead of treating it as a temporary raise, pay yourself an exchangeless base salary of like $35k CAD or something and funnel the excess into a savings fund you can't touch. Then you are future-proofed against negative currency fluctuations. :v:

# ? Sep 18, 2015 22:02

HookShot: Dec 26, 2005

Rime posted:

Why not instead of treating it as a temporary raise, pay yourself an exchangeless base salary of like $35k CAD or something and funnel the excess into a savings fund you can't touch. Then you are future-proofed against negative currency fluctuations.

This is more or less what I do, I've lived for so long with the CAD and USD being at par that this extra basically just goes into savings now, just like any extra that I didn't spend before.

I'm not immediately going out and buying 10 ipads just because I can.

# ? Sep 18, 2015 22:38

Square Peg: Nov 11, 2008

HookShot posted:

This is more or less what I do, I've lived for so long with the CAD and USD being at par that this extra basically just goes into savings now, just like any extra that I didn't spend before.

I'm not immediately going out and buying 10 ipads just because I can.

something something ipad equity

# ? Sep 18, 2015 22:55

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

Incorporate and invest the extra, dividend to yourself or broke family members as needed, duh

# ? Sep 18, 2015 23:01

namaste friends: Sep 18, 2004; by Smythe

Why don't you lease a premium luxury car? You deserve it. And more importantly, you need to tell everyone you're better than they are.

# ? Sep 18, 2015 23:07

HookShot: Dec 26, 2005

Cultural Imperial posted:

Why don't you lease a premium luxury car? You deserve it. And more importantly, you need to tell everyone you're better than they are.

This is a really good point, especially since, like the housing market, this windfall is definitely going to last forever.

brb gonna find a Mercedes dealer.

# ? Sep 18, 2015 23:11

Rime: Nov 2, 2011; by Games Forum

HookShot posted:

This is more or less what I do, I've lived for so long with the CAD and USD being at par that this extra basically just goes into savings now, just like any extra that I didn't spend before.

I'm not immediately going out and buying 10 ipads just because I can.

I just assume everyone in Canada is financially illiterate by default at this point. Sorry.

:negative:

# ? Sep 18, 2015 23:11

McGavin: Sep 18, 2012

David Ley "Leys" the smack down:

David Ley posted:

Metro Vancouver: �Unequal City�

It�s the most important justice issue in Metro Vancouver: Housing affordability.

And Regent College is hosting a major discussion on it and related topics on Thursday, Sept. 24th. The 7 p.m. event will include the scholar who is arguably the most important voice on the trans-national forces making Metro Vancouver unaffordable, especially for young families.

University of B.C. geography professor David Ley is the author of the groundbreaking book, Millionaire Migrants: Trans-Pacific Life Lines. He�s calling his brief talk �Housing Affordability: A Sign of the Times.�

�The �sign of the times� is growing inequality,� Ley told an organizer of Thursday�s event.

�A globalized world of almost unrestricted capital flows leads to asset bubbles, and property has become a very significant asset bubble. But not everywhere, only in selected places (such as Metro Vancouver),� Ley said.

�Housing is becoming one of the central questions of our time, because it leads into so many other issues. It�s like a nexus around which a whole lot of other issues unfold. Vancouver is a particularly good laboratory to look at this because the issues are so fraught here.�

Ley�s current research involves a comparative study of housing market bubbles in five global cities. He is also a participant in the national Neighbourhood Change Research Partnership, examining growing income inequality and polarization in large Canadian cities.

Ley will be joined by five other noted speakers at the two-hour forum at Regent College, which is at the corner of University Boulevard and Wesbrook on the University of B.C. campus.

The event, which begins at 7 pm., is titled Q Commons Vancouver: Home, Community and Belonging. Tickets are required.

Here are excerpts from a revealing interview Ley gave in advance of the Sept. 24th forum:

David Ley:

There was an Angus Reid study that came out in the spring, asking people in (Metro Vancouver) what are the most important urban issues they can identify. And housing emerged first�. One of the groups was �very uncomfortable� and �stressed��those who are paying a high proportion on housing, who typically have a long commute, who are younger people, who have a family with children, who are the most highly educated of the four groups. And now here is the clincher: 80% of whom are seriously considering leaving this region because of the cost of owning a home�.

Q: What are some of the reasons housing prices have skyrocketed in Vancouver?

David Ley:

The problem does not have a local cause because local incomes cannot support the housing market that we encounter here.

The role of wealth migration in shaping our housing market is significant: 200,000 people have come to Vancouver through business immigration programs in the last generation. All of those households are millionaire households�that�s how you qualified for the program. This has led to an enormous dump of wealth on the local housing market�.

Q: What can we do about this?

David Ley:

The answers have to be political answers. The scale of the challenge is so great�. But not even at the scale of the city government can one really address these questions. It needs a concerted effort by all three levels of government. And we are a long, long way from that in Canada. We don�t even have a national housing plan�.

Q: What is the knock-on impact of affordability of housing on our shared life together?

David Ley:

There are some obvious things, and then some less obvious things.The obvious things are what we all know from our own experience or the experience of people we know in terms of housing stress. How do people adjust to a market like this? We have a 27-year-old and his family living in our house. We�re delighted�I�m a great believer in extended family gatherings. So that�s one adjustment.

People move away, as this Angus Reid poll suggests. People double up. People live in smaller units. People take on very risky debt loads. There are illegal suites throughout the region that are absolutely critical not only for people�s housing but as mortgage helpers�.

Regent College, an evangelical Christian graduate school, says the purpose of Q Commons, which is modelled on programs in other parts of the world, is to �convene local leaders to think, learn, and work together on common topics and issues in our cities. The conversation in Vancouver will centre around issues of home through a variety of different lenses: housing affordability, building community, and infusing more happiness into a city sometimes described as fostering loneliness.�

# ? Sep 18, 2015 23:13

HookShot: Dec 26, 2005

Rime posted:

I just assume everyone in Canada is financially illiterate by default at this point. Sorry.

It's usually a good assumption.

# ? Sep 18, 2015 23:17

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

Cultural Imperial posted:

Why don't you lease a premium luxury car? You deserve it. And more importantly, you need to tell everyone you're better than they are.

HookShot posted:

This is more or less what I do, I've lived for so long with the CAD and USD being at par that this extra basically just goes into savings now, just like any extra that I didn't spend before.

I'm not immediately going out and buying 10 ipads just because I can.

You had better be listening to Ikantski, he is absolutely right. If you are paying yourself a salary, cpp, and ei you are doing it wrong. Dividend your family like whao into a 'joint' account you all 'share' if you catch my drift here.

Ikantski posted:

Incorporate and invest the extra, dividend to yourself or broke family members as needed, duh

# ? Sep 18, 2015 23:38

HookShot: Dec 26, 2005

jm20 posted:

You had better be listening to Ikantski, he is absolutely right. If you are paying yourself a salary, cpp, and ei you are doing it wrong. Dividend your family like whao into a 'joint' account you all 'share' if you catch my drift here.

I do have an accountant, I don't actually take accounting advice from the internet.

Also self employed people don't have to pay into EI. I haven't paid premiums in years. Although I don't get access to it if my business does fail, and I know that.

# ? Sep 18, 2015 23:46

Coolwhoami: Sep 13, 2007

Rime posted:

I just assume everyone in Canada is financially illiterate by default at this point. Sorry.

A family member did not do as you described and nearly went bankrupt when the dollar moved toward parity (charges clients in US dollars). Listening to him complain about having no money while he explains how leasing cars is actually cheaper in the long run was pretty :wtf:

# ? Sep 19, 2015 02:11

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

HookShot posted:

I do have an accountant, I don't actually take accounting advice from the internet.

Also self employed people don't have to pay into EI. I haven't paid premiums in years. Although I don't get access to it if my business does fail, and I know that.

Don't be afraid of second opinions, even from an Internet satire site.

# ? Sep 19, 2015 04:17

HookShot: Dec 26, 2005

jm20 posted:

Don't be afraid of second opinions, even from an Internet satire site.

Thanks

But yeah, way ahead of you. My accountant's pretty good, he's got me sorted.

# ? Sep 19, 2015 05:22

I would blow Dane Cook: Dec 26, 2008

quote:

Sydney couple in their 20s go on home buying spree, picking up 19 properties in a single year

THEY�RE in their mid-20s and earn average incomes, yet Emily Sharp and Luke Rogers own 22 homes � 19 purchased in the last year alone.

The Sydney couple�s $3 million property portfolio includes homes in Sydney, the Blue Mountains, Central Coast and Queensland, which they�ve purchased mostly over the past 12 months despite one of the biggest price booms in history.

Ms Sharp, 25, and Mr Rogers, 24, purchased their homes with no financial help from friends or family and have relied instead on a clever home buying strategy and savings from their salaries � she works a graduate position in marketing, he works in the army.

They owe their success to a mix of determination and strict saving, Mr Rogers said.

He started saving for his first investment property at age 17 and together the couple have agreed to forgo luxuries to keep their expenses down. Last year he sold his car and motorbike.

�We don�t spend money on flashy things,� Mr Rogers said.

The tactics they�ve used to purchase nine times as many homes in a year as the average Aussie will own in a lifetime may seem complicated, but anyone can do the same, Mr Rogers said.

�The trick is to have equity in the home the day you purchase it. You then take out that equity to buy your next properties,� he said.

They developed this strategy after becoming dissatisfied with their first purchase: a house in Gympie, Queensland.

Mr Rogers bought the home four years ago, but the rents weren�t good and its value increased slowly.

�I realised I wouldn�t achieve the lifestyle I wanted by buying properties like that again so I started researching how other people made money in real estate.�

His research led him to Nathan Birch of Binvested, a Western Sydney native who bought more than 150 properties before turning 30. They decided to mirror Mr Birch�s approach.

Any homes the couple now purchase must meet three criteria: the home must be in an area where prices are about to go up fast, the monthly rental income must exceed their mortgage repayments and the price must be below the property�s true market value.

This approach means that after only a few months of ownership the property will be worth substantially more than they paid for it. They then refinance their original loan and use their newly gained equity as a deposit on their next home.

The high rents also guarantee their properties don�t drain their finances so banks can continue to issue them loans.

�Trying to secure new loans and good deals on homes is time consuming, so we get help,� Ms Sharp said.

They use mortgage broker Graham Turnbull of Zinger Finance to negotiate their loans and a buyer�s agency Binvested to help find homes selling under their value.

The majority of their properties are blocks of units in Cairns and Lithgow, as well as apartments in Gold Coast purchased mostly below Australia�s median house price of roughly $450,000.

Their Sydney homes include units in Fairfield and Granville, although they�re sceptical of the Harbour City market.

�For us, you�ve got to look at the future growth areas and Sydney has already seen a lot of price growth. Brisbane looks better,� Mr Rogers said.

But 22 homes is enough for now, Ms Sharp added. �Our rental income is now higher than the income from our jobs, which is great, but I think we�ll stop buying for a while.�

http://www.couriermail.com.au/reale...q-1227533445956

# ? Sep 19, 2015 07:46

Myriarch: May 14, 2013

Well that could certainly never go wrong. Gotta keep all your investment exposure to one market.

# ? Sep 19, 2015 09:54

Professor Shark: May 22, 2012

Jumpingmanjim posted:

http://www.couriermail.com.au/reale...q-1227533445956

This could never go wrong and there aren't hundreds of people also doing this who will go bankrupt if even something slightly goes wrong.

It reminds me of my girlfriend's friend who's parents are in house construction. As soon as she graduated they convinced her to put money into building a 5 bedroom house and then renting it out while she lived there as the landlord.

By the second year one of her tenants had left, so she was basically paying that portion of the rent, and now she has an immigrant family living in one room or something haha

Basically: Millenials getting lovely advice from their Baby parents

Professor Shark fucked around with this message at 11:23 on Sep 19, 2015

# ? Sep 19, 2015 11:20

UnfortunateSexFart: May 18, 2008; ð» ððð« ð·ððð·
ð ð ð ð« ð®ð ð¾ð ð ð¡ððð

THC posted:

"The Canvas will incorporate much of the existing architectural elements of the original Art Gallery, shooting into the sky like a glass obelisk, a beacon to Vancouver�s premier taste. "

It's really a natural extension of the existing building. Like it was always there. Barely tell it's new.

This was completely fake btw. The real Canvas is this brilliant design in False Creek Flats

sbaldrick posted:

Why does Toronto keep letting people ruin their classical public buildings?

If that building looks familiar to you it's because it's in every single movie and TV show, not because it's in Toronto.

UnfortunateSexFart fucked around with this message at 15:03 on Sep 19, 2015

# ? Sep 19, 2015 14:51

Adbot: ADBOT LOVES YOU

# ? Jun 4, 2024 05:59

UnfortunateSexFart: May 18, 2008; ð» ððð« ð·ððð·
ð ð ð ð« ð®ð ð¾ð ð ð¡ððð

double post eh. Chinese millionaires stole my posting ability

# ? Sep 19, 2015 14:57

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

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