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Cultural Imperial posted:Story for the huge quote; I'm typing this from a nexus. What is a 100% day out of bankruptcy? 100% refers to how much of the house's price is in the mortgage, rather than the down payment - i.e., the bank pays for your entire house. That the bank is willing to take the biggest risk (you have given them zero dollars) on the mortgage when you have literally the shittiest credit rating possible (the day after you exit bankruptcy) means the banks are not playing nice-nice with the real estate market, basically.
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Feb 18, 2013 14:09
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Isentropy posted:Just out of curiosity, what district in Edmonton did you end up in? I've been pretty averse to moving out there even though it's the "Promised Land" for my field. Part of it has been politics, but another part of it has to do with racism. I'm not really sure how they treat black people out there; in rural Nova Scotia they seem to see them primarily as farm workers and as a nuisance. Depends! There are a lot of Somali refugees, and everybody is pretty racist about them as layabouts. If you don't have a Somali accent, well, you're basically a unicorn, because there are barely any other African people in Edmonton, so nobody has an actual opinion otherwise, honestly. I think the racism is a little overstated about Albertans except for the First Nations, where it is as bad as people say, really. 
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Mar 27, 2013 19:33
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Throatwarbler posted:So is that the problem now? That there isn't enough housing being built? Houses currently built are mega-condos that go up for unreasonable mortgages that then lie fallow, or ludicrously expensive McMansions in ostensibly popular neighborhoods. Nobody is just putting up an apartment building for people to rent for an ordinary price, because the current perception is that's a wasteful capital investment. Or so I hear, I mean.
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Apr 11, 2013 09:47
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Better to just link right to his blog post, so you can see the diagrams, too. http://krugman.blogs.nytimes.com/2013/06/15/worthwhile-canadian-comparison/
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Jun 17, 2013 09:02
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Baronjutter posted:I want my own personal airship to get around in, I demand the entire country build its self up around this concept and massively subsidize it. This may lead to a balloon bubble. Well, yes, by definition, it will lead to a balloon bubble. How else are you going to lift your airship?
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Jul 22, 2013 02:32
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spacemost posted:Reminds me of this timeless classic from the WSJ: I would give all of my pride in ownership to find the HENRY offenses gif version someone made of this comic. Buying a house is probably the #1 cause of HENRYs in the entire first world.
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Oct 20, 2013 03:52
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Sometimes I need to poo poo a lot - like, a lot - and I don't have time to flush in between bomb drops. The only way the sewage system can accommodate my septic holocausts is if I run from toilet to toilet in between heaves. This 7-bathroom house sounds like it was built with my extradimensional colon in mind. God bless Canada.
Bleu fucked around with this message at 23:59 on Oct 30, 2013 |
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Oct 30, 2013 23:44
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Ah, yes, the incredibly stable and high-performing global economy. Truly we rest on a bedrock of granite. Unlike your standard Toronto condo, which is lucky if it's even at rest.
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Nov 21, 2013 16:22
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Sovy Kurosei posted:Ft. McMurray is going to be min-maxed to be an economic powerhouse, an ecological preserve and social programs for all. Unfortunately, because the Albertan provincial government is playing Fort McMurray on a console, we can't push them the DLC that enables anything but the Drill Baby Drill game mode.
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Nov 24, 2013 02:52
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I assume that the follow-the-money chain breaks if you blast your money apart into hundreds of tiny transactions to an army of contractors to build all the separate pieces of construction for those houses, which makes it much less obvious to Revenue Canada than literal Chinese suitcase money. Also, laughing hard at that article straining like craaaaaaazy to not make it sound like the Chinese dude is the world's most obvious embezzler. Yeah, man, it's totally deposit interest caps. Nobody in China has ever heard of the stock market.
Bleu fucked around with this message at 05:12 on Nov 24, 2013 |
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Nov 24, 2013 05:10
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eXXon posted:A window fell off the Shangri-La building in Toronto for the third time this year. Nobody was injured thus time but someone was hit by glass the last time. If someone was actually beaned by the glass, there would be a line of lawyers ready to press a gigantic civil suit. There's still the problem that you were hit by a sheet of shrapnel at terminal velocity, but if you make it over that hump, yeah, you can finally buy that condo you wanted!
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Nov 25, 2013 01:06
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The Krugman is the delightful leprechaun of New York that I read all the time, but it's important to remember that, before he settled in to lay siege to the US madhouse for the last decade, he was originally a pro-globalization financial centrist. He's drifted steadily leftward over recent years (he unironically cited Naomi Klein one time!), but not that much by international standards. edit: That said, Summers is a, quote, "reptilian bank-whore" that even Krugman couldn't support in the Fed. Bleu fucked around with this message at 06:18 on Dec 1, 2013 |
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Dec 1, 2013 06:10
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It's more like everyone has the same amount of money, but the number of houses in the auction block has doubled - but the auctioneer is insisting that the starting bids are double instead of half. That's the logical disconnect between rational economics and bubble economics; the only reason the supply glut is being filled temporarily is by slipshod mortgages, fudged numbers, and, increasingly, nothing at all. That's why there's a bubble.
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Jan 10, 2014 15:30
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Grand Theft Autobot posted:So $55k median household income for Halifax then? I'm seeing an average home price of $260k. Does anyone have a number for median home price? That ratio is honestly not as terrible as I assumed it would be. No, according to Statscan, it was 79k median household income in 2011. that chart's individual incomes, which looks like it's about 40k a year or so. That's not exactly an economic hotshot. Bleu fucked around with this message at 08:56 on Jan 11, 2014 |
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Jan 11, 2014 08:54
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Ostensibly? To live in it, property ladder, etc. Realistically? TO THE MOOOOOOOON
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Jan 17, 2014 14:35
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Legally, the CMHC has a $600 billion cap on debt it can insure, which they tend to stay pretty close to (560 bil in Q3). More practically, if the banks start to detonate from a default crisis, the government will step in for considerably more than that to shore them up, just like the '08 crash.
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Jan 17, 2014 21:32
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A cab is literally the only place I've seen the carbon-copy rolling-wheel credit card things in the last decade. Those things are great.
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Jan 27, 2014 02:38
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Upton Sinclair posted:“It is difficult to get a man to understand something, when his salary depends on his not understanding it.”
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Jan 29, 2014 00:19
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When debt is cheap, people go into debt, reports rugged blonde stranger, while shuffling a stack of Polaroids and examining his own tattoos in the mirror.
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Mar 24, 2014 13:10
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When did 'buy low, sell high' stop being a thing people understood? I learned that poo poo by playing Drug Wars on my TI-83+ in high school. Maybe it should be bilingually labelled.
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Mar 29, 2014 07:07
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eXXon posted:I'm not good with math, should I buy a house because it sounds like you only have to pay a 5% down payment and the rest is free?? Buy a house if you have a time machine.
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Apr 2, 2014 05:10
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Kalenn Istarion posted:In case you missed it, Flaherty passed away yesterday. Whatever else you think about the conservatives, it seems that they have mostly been measured and careful in their fiscal policy and I hope that whoever comes in behind him can carry the torch. CPC staffers apparently need more work to do in between icing each other in the elevators. May he rest in peace, but the man was a disaster of a Finance Minister. I just wish I could find the 22 Minutes clip of Crazy Jim's Housing Tonic, because that's how I'll always remember him. edit: Okay, to be fair, a CPC flack would know Oliver was already the new Minister. Bleu fucked around with this message at 03:58 on Apr 14, 2014 |
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Apr 14, 2014 03:44
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Professor Shark posted:Edit: ^^^This is a reference to the Canadian Politics Thread btw; I got worried that Bleu would think I was being serious There were a good couple seconds at the beginning, there, before I recognized it.
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Apr 14, 2014 10:43
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Baronjutter posted:What's the solution? Just really high taxes? What's the current situation? Why not just tax inheritance or money from family (living or dead) as income like any income? That is the tax situation in Canada, with the same deductions (capital gains at 50%, etc.) and exemptions for a few things (capital gains on the deceased's primary residence, for example). In the US, the estate tax was subject to a severe Luntzing (you've probably heard the term 'death tax') and the law is considerably more complex and loopholey. Bleu fucked around with this message at 18:45 on Apr 28, 2014 |
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Apr 28, 2014 18:43
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I guess I've been misreading inheritance taxes all this time! Here I thought we had a reasonable approach to estates, and again I've been disappointed. I guess I've been misinterpreting the liquidation of assets and paying the taxman for it as income/gains to be the same thing as the inheritor playing the taxman for the income/gains he is about to get.
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Apr 29, 2014 00:19
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Hey, you know a great way to build equity? Take your savings. Okay, you got them? Now spend them. No need to thank me. I'm a REALTOR®.
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May 14, 2014 16:42
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I'm glad that Trudeau is eventually bumbling his way to the correct position on most policies. "The opposite of Harper" is actually a pretty comprehensive progressive platform, really. Was this supposed to be in Canpol?
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Jun 18, 2014 21:55
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Do that many Canadians even cook? All I see are statistics and reports that say that Median Modern Two-Income Household barely cooks at all. Like this one I found in a few minutes: http://www.ats-sea.agr.gc.ca/inter/5527-eng.htm
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Jul 1, 2014 13:35
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For the really strict vegan/Muslim/breatharian in your life.
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Jul 2, 2014 12:18
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Hey, it's Durarara! I didn't know Donald Trump liked anime.
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Apr 6, 2015 01:07
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1500quidporsche posted:Recently went to a wedding where the father of the bride told me rather frankly that he put $10k of the expenses on his credit card to help pay for it. This man is a small business owner who "needs" a Ram 3500 truck for his business which is running a hot dog restaurant in probably the worst location I've ever seen. Is this a Doobie joke? 
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Jul 23, 2015 22:54
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Just keep in mind that even the 'Welp those teachers suuuuure have it easy!' sort of sideways jab still puts you on the side of bucket-crabs and charter school crusaders. Even nominally. Even unintentionally! Teachers.....................are good
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Sep 7, 2016 00:40
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That spike in the last year 
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Sep 1, 2017 18:54
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I don't think the chart would have been meaningfully improved by $240 bees of blank space at the bottom. The scale on the y-axis is still reasonable, so it's fine, though they should have added the axis break symbol to really achieve High-Level Graphing.
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Sep 1, 2017 21:06
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That chart's in the article too. https://betterdwelling.com/canadians-are-borrowing-against-real-estate-at-the-fastest-pace-ever/ 
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Sep 1, 2017 22:23
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Myriarch posted:Given the state of current affairs, namely the meddling in statscan by the government, especially in the collection of data (Ottawa can basically veto the way a data set is collected if it chooses, forcing the department to collect in a particular way) the numbers of the government are not necessarily more trustworthy than those of random internet poster #4451. On one side, an arms-length statistical analysis and census institution. On the other, Vancouver Van Guy. [holds up hands, waggles them up and down as imaginary scale balances]
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Dec 20, 2017 21:27
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