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Danny LaFever posted:I bought my place in Fall of 2007 and the bank was insistent on a 35 year mortgage but I ended up with a 25 year anyways. And it was a prime -0.1% rate as well. I bought into the (GTA) market in 2010, and scooped up one of the last 35 year mortgages offered. It makes a ton of sense for fiscally responsible people who want to reduce their minimum obligation. That said I have no intention of waiting 35 years and am on track to be mortgage free in 15 years or less, barring buying a larger home  Honestly I wouldn't be surprised if when those 35 yr variable mortgages get renewed after a significant downturn there were a lot of defaults. I know a few people who are riding on housing being in the high 40s for percentage of net income.
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Aug 5, 2014 14:05
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PK loving SUBBAN posted:Yeah I'm planning an expensive 2 week trip to Paris later this year, and I'm going to pay for it all with CREDIT CARDS MUHAHAHAHAHHAHHA If you did put it all on a 20% credit card I would be shocked, most consumers put this kind of debt on their 29% credit cards.
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Mar 17, 2015 15:46
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Math You posted:TD gave me a Visa with 4.35% interest on purchases and cash back. That's less than half the interest of my line of credit that they denied a rate reduction on. Use it to upgrade your flights
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Mar 17, 2015 21:04
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FrozenVent posted:Book a flight to Newfoundland sometimes Theres no reason to go there, and besides it's the winter so they are all on pogey waiting for warmer weather.
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Mar 18, 2015 14:32
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PT6A posted:I've met some people who are good at using social media for business, but most self-proclaimed "experts" in the field need a beating or seven. Don't be jealous there are social media gurus peddling snake oil for 6 figures.
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Mar 20, 2015 18:33
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Baronjutter posted:There's jobs in Victoria, just not jobs that really excuse the home prices here. At one point I wanted to move to the island, and would've had to live in Victoria, however job prospects in the tech sector are what solidified my position it was not feasible. Moving to BC to live in Vancity to work tech? I'd rather tough out the cold of Ontario and (eventually) own a modest house in my lifetime. Just my own anecdotal findings of Victoria. At least its a beautiful city in the summer, but then again the whole island is.
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Mar 25, 2015 06:46
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Cultural Imperial posted:Just wanted to let you guys know that oil prices are gonna be hilarious if obummer reaches a deal with Iran. gently caress you Alberta They may also spike depending on how mad the Saudi's get at Iran for meddling in Yemen. It's a touchy situation right now.
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Mar 25, 2015 16:12
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Lexicon posted:Except in Canada, milk is a luxury good! Incorrect, I don't pay HST on milk (or any of my groceries). If you pay HST on a non prepared food item is it considered non essential.
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Mar 27, 2015 07:21
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blah_blah posted:Yes, that sure is a 'loophole'. You can be paid under the highest tax bracket (not sure Alberta's) and just have the majority of wages paid via bonuses. Think bankers or small business owners that wish to reduce the tax on their employees.
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Mar 27, 2015 07:22
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Amos Moses posted:Albertatalk. You can move or accept work at McDonalds under the current EI provisions. Honestly, oil will go back up, but it might take a while (months/years) ed: Actually hold the phone, all the temporary foreign workers will be on the first boat out April 1st. There will be jobs aplenty.
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Mar 27, 2015 19:45
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Rime posted:Source? After reading about them jumping around jobs willy-nilly in flagrant violation of how the system works I have no faith that the government will actually enforce a mass deportation of that nature. http://www.cbc.ca/news/canada/windsor/temporary-foreign-worker-mass-exodus-expected-april-1-1.2970833
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Mar 27, 2015 21:21
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The solution to all our economic woes is to build more condos with the Economic Action Plan money.
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Mar 30, 2015 18:01
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Listen up BC yuppies, Whole foods is going to make a killing over there, and if you don't think so you're delusional. Soon enough there will be a mass declaration of allergies in the area surrounding the new location to gluten and GMO. People will start lining up to happily hand over crisp $20 bills for 4L of vegan gluten free almond milk or $8 for a
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Mar 30, 2015 19:31
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Guest2553 posted:Gonna rebalance the hell away from the 25% Canadian equities I currently hold in my TFSA (it fell from 30% given how much everything else appreciated lol). Aiming for 15% and bumping US/int'l to 30% each so I can still have 25% bonds. The problem is our gov is putting their nose into telecom during a downturn fueling even more losses for an entire sector. It's like Harpers cronies aren't satisfied with the energy and finance losses, he needs to push telecom/media into the toilet too. I sure love our diversified economy. You should buy some CAN equity when you feel comfortable with the risk though.
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Mar 31, 2015 02:37
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Baronjutter posted:So why can't our cities have cheap rates and people living in the country or exurbs for once in their lives pay for the cost of their lifestyle? Socialism
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Mar 31, 2015 20:03
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Rime posted:Ironically I once made BJ's exact argument at a bar with relative strangers and was told that "our socialist society doesn't punish the less unfortunate like that." This is also true, but you know, socialism.
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Mar 31, 2015 20:19
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Cultural Imperial posted:http://www.theglobeandmail.com/repo...rticle23718196/ Both the investment news and your opinion are not surprising.
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Apr 1, 2015 14:35
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It's clearly an April fools joke, I mean, selling stock to fund a car? You people are gullible if you think otherwise.
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Apr 1, 2015 15:34
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PT6A posted:Poe's law. One could argue that selling stock to buy a car is not meaningfully more stupid than financing a luxury vehicle they can't really afford at an absurd rate for 90 months, and people do that all the time! Not really. On one side you are willingly throwing away money from an investment vehicle (returns not guaranteed) to buy a rapidly depreciating asset, and on the other you are just agreeing you enjoy a second mortgage payment for the same thing. The former comes from someone who may have some semblance of budgeting skills, whereas for the second that is not even remotely implied.
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Apr 1, 2015 16:46
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There hasn't been many Canadians murdered in Mexico lately, but a few years ago it was all the rage. At least the cost of living represents a good value. http://humbernews.ca/timeline-canadians-killed-in-mexico-in-last-8-years/
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Apr 1, 2015 21:44
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Why are we posting about China here, are we expecting a large immigration wave to Vancouver/Toronto after the inevitable Chinese economic meltdown?
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Apr 2, 2015 06:07
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Baronjutter posted:Sounds like helping people get their foot in the equity door who need it the most. Why does this thread hate helping poor people get a leg up and out of the humiliating situation of renting? Renting isn't humiliating, it's thinking like this that drives our stupid housing market into the clouds. Renting is perfectly fine and may work for some people who have no desire to own property.
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Apr 2, 2015 22:20
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ColdBlooded posted:On a scale of moderately stupid to Vancouver-levels of insanity, what's the housing market like in St-Catharines and surrounding areas? I'm looking to move there for work sometime soon. It's cheap, no one really desires to move to St Catharines. It has no access or realistic possibility of a Toronto commute so it should be somewhat sheltered from the overpriced bubble in the area. For reference anything served by the GO lines is somewhat expensive, except the east end where no one wants to live.
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Apr 6, 2015 16:23
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EvilJoven posted:My wife and I would probably have a few kids underfoot by now if you could go back to the old 'one parent stays home until the kids are old enough to ride the school bus and do the latchkey kid thing' model of parenting. This sounds like you are really bitter that kids cost money, perhaps you would be better off with pets. If you do choose to have kids, you will 'find a way' to make your budget work, like every other family in the world.
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Apr 9, 2015 15:06
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Cultural Imperial posted:Ladies and gentlemen, this thread is dedicated to young Einsteins like this all across Canada. Anyone can have whatever they want; you'll just "find a way to make it work". If we all waited until we were 'financially steady' for children we would be having kids well into our mid 30's, perhaps even 40's. Speaking to risk management specifically, it makes far more sense to be financially 'less secure' and have children early than risk having kids in your ate 30's where complications skyrocket. You might need another break CI.
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Apr 9, 2015 15:56
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Cultural Imperial posted:Yeah I don't know how the gently caress psychology gets so many students. It works for elementary teachers, and generalized government employees that require a degree to 'check the box' for applicants.
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Apr 9, 2015 20:34
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How many oil spills in the vancouver harbour will it take to tank the housing prices?PT6A posted:What's the deal with people getting these bullshit qualifications for jobs that neither require nor, typically, accept any such qualifications? They are being pushed at the highschool level into programs they 'enjoy'. A lot of people have interests, namely everyone, but many of these people lack the drive to push and work hard towards a career in the same field. They have essentially turned their hobby into a 20-80k debt package and will be cursed to work at starbucks or similar for quite some time. I'm sure everyone knows a couple people in this situation 
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Apr 10, 2015 14:59
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Cultural Imperial posted:http://www.bloomberg.com/news/articles/2015-04-10/canada-posts-unexpected-jobs-gain-in-march-on-part-time-work I swear when they release jobs reports they shouldn't group the jobs together. Losing 28k and change full time jobs is not considered a job rebound by any stretch of the phrase. No one cares about seasonal part time employment increases that are quite frankly expected.
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Apr 10, 2015 21:00
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Antifreeze Head posted:The limit tends to be 15% per year. If a person has enough disposable income to apply an extra ~$37,500 every 12 months against a $250,000 mortgage, that person probably should have signed up for a much more aggressive repayment plan in the first place. Some people might get a couple one time windfalls, perhaps a sales job which would make such infrequent payments possible. Though its a moot point to pay down long term debt at 2-2.5% instead of investing at 8-12% into simple index ETFs, unless of course people are scared of the market and have no risk tolerance. Saltin posted:Loads of people with serious money still take out mortgages and pay them off slowly, especially in low interest rate environments. Investing at 5% is objectively better than paying down a 2.9% mortgage. 5%  LemonDrizzle posted:I disagree - you may have variable income, or you may want flexibility in how you allocate your capital. I'd much rather have a low minimum payment with the option of making aggressive overpayments than be locked into making high minimum payments no matter what. This right here, I did the same thing with my mortgage.
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Apr 13, 2015 14:49
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Cultural Imperial posted:Nah, it's worth it even if you don't save any money. The exposure to a real tech scene is invaluable for anyone's career. Canadian tech experience is a loving joke. There are still plenty of lucrative $80-100+/h contracts here for people with the right skills. Even with generic skills you can easily do $60+/h incorporated so I'm not sure if you have a different perspective of wealth generation as everyone else.
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Apr 15, 2015 04:53
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The problem with BoC rate day under Poloz is the guy flips a coin to determine policy and makes up words to support the coins decision.
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Apr 15, 2015 14:47
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unlimited shrimp posted:I'm guessing the people in power have a vested interest in talking about how bad things aren't, because if they were ever honest there would be panic. That sounds pretty Alberta.gif
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Apr 15, 2015 20:14
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though -- maybe they're all just as dumb as they continually look.
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JawKnee posted:if you meet even 50% of hard requirements for a posted job, apply. FTFY.
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Apr 16, 2015 16:50
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THC posted:Thanks to Prime Minister Harper, Canada leads the world in part time job creation. Yeah he's doing a swell job, racing to the bottom with no benefits for anyone outside his middle class definition.
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Apr 17, 2015 02:36
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etalian posted:energy sector is just a small part of the vibrant Canadian economy Not to worry, we're making up our lost energy GDP through real estate transactions.
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Apr 17, 2015 14:41
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OhYeah posted:Seriously, where is this coming from? Because I made a comment based on not only personal experience but several people working in the same field? What the gently caress do you know about the location where I'm from, how things are run here (for better or for worse)? gently caress-all. Because I said that I have noticed that certain positions in certain companies - some of whom I know personally - have been filled with certain people I get labelled a "giant, steaming turd"? D&D isn't for off the cuff jokes, stick to GBS/FYAD for the serious joke telling.
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Apr 17, 2015 18:20
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Cultural Imperial posted:Seriously I think we've reached a point in capitalism where we are post-money. Real estate in Vancity is for investors, we are post middle class ownership. Judging the incomes in your area, the middle class must live very frugal lives out there given the rents.
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Apr 17, 2015 19:07
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The banks won't need a bailout, the government will. The gov underwrites something stupid like 90% of all mortgages that require mortgage insurance.
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Apr 18, 2015 17:57
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Antioch posted:$3000 in CC debt from a string of bad times a few years back. No loans, but I do have a $270k mortgage and a $25k car loan. Are you sure you read the PF section?
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Apr 20, 2015 22:20
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Tip HST and round down, welcome to banking.
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Apr 21, 2015 18:45
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