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I just tell myself that those who consistently make poor financial decisions just subsidize the privilege of those who don't. Makes it easier to accept the widespread financial illiteracy.
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Mar 7, 2014 02:56
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Cultural Imperial posted:McLean's article That  part was whem they said Sears has affordable household goods.
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Mar 24, 2014 16:10
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http://business.financialpost.com/2014/05/09/canada-housing-bubble-agents/ made me laughquote:Canada’s next housing bubble: real estate agents...The number of people selling real estate reached 108,706 during the first quarter of the year, according to the Canadian Real Estate Association. To put it another way, that’s one realtor for every 245 Canadians over the age of 19....We have almost as many people selling houses as making them. but serious THIS TIME ITS DIFFERENT BECAUSE 
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May 11, 2014 04:40
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on the left posted:Why is it guaranteed to double? I don't think any central bank plans on ending the free money party anytime soon. Soon has to extend til 2039 or else these people will be straight up dicked.
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May 14, 2014 02:01
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Holy gently caress http://news.nationalpost.com/2014/05/13/vancouver-house-that-sold-for-3-million-in-one-day-now-faces-bulldozer-because-it-is-too-small/ tl;dr: A perfectly livable house sells for 3+ million in vancouver within a day of listing. New owners intend to knock it down to build a bigger house. It's alluded to that rich Chinese are to blame.
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May 14, 2014 04:12
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Is "N-plate" like the new "Type-R" or something? I've never heard of it before.
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May 31, 2014 00:22
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Rick Rickshaw posted:Apparently it means they're a new driver. Cool, thanks. Googling was giving me a bunch of medical terminology, even when I threw in some driving words:)
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May 31, 2014 18:40
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Cultural Imperial posted:gently caress golf courses. Seriously just loving been golf now. Try skeet shooting. It's like golf with a shotgun  Rime posted:just forego all joy for twenty to thirty years of your life to be horrific. I don't think anybody's ever made that assertion. Being responsible with money isn't mutually exclusive with no having fun, ever. Guest2553 fucked around with this message at 23:24 on Jun 2, 2014 |
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Jun 2, 2014 23:22
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That sounds like something a Hakka would say. Go back to Guangdong  edit: Dicked up some spelling. My shame will last forever. This was a haiku. Guest2553 fucked around with this message at 06:42 on Jun 15, 2014 |
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Jun 15, 2014 05:10
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Canadian living in the US for work and I feel way more welcome here than I ever did in the previous 8 years in QC/ON. We are a pretty deluded bunch in many ways 
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Jun 20, 2014 01:17
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Turning gold into lead is a sort of alchemy in itself I suppose.
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Jun 21, 2014 02:33
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Crosspost from bad with money thread, and takes place in the US, but just as schadenfreude: people paying to live in high end homes as transient 'house managers'. It's just as stupid as it sounds. gently caress realtors, but props to them for finding a way to squeeze equity from an otherwise vacant showhome while making its transitory tenants your bitches. When do you suppose we'll be seeing them popping up in YVR? TL;DR: family of two mcdonalds managers and three unemployed grown-rear end children come into money, somehow lose it all because something something recession, now rent showhomes until they are sold to maintain the illusion that they're not some poor-rear end that have no business owning $10,000 rugs. Guest2553 fucked around with this message at 06:01 on Jul 11, 2014 |
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Jul 11, 2014 05:58
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Post crash make sure you don't pick up a cheap foreclosure that has been ravaged by fire ants.quote:Efforts to assess the full extent of B.C.’s European fire ant infestations are being frustrated by homeowners who refuse access to workers sent to confirm their presence. Get hosed, homeowners 
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Jul 11, 2014 19:11
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I visited Calgary at last week and found a massive Railway Depot had opened up near where my parents live. There is a constant line of trucks going to and coming from that facility at all hours . Rail is totes alive.
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Jul 16, 2014 01:00
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Guess everybody's every experience is different I applied for a CC at my bank and it wasn't a secured one. They even raised the limit to 1k after a couple months of not using it, and 5k shortly after. 
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Aug 12, 2014 16:21
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Whiteycar posted:Calling them and asking them to put the limit back down to what was originally agreed upon was like speaking a foreign language. No one understood. Going through that now with TD. Amazing how many people are lysdexic, with all the confusion they have over the words 'raise' and 'lower'.
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Aug 12, 2014 21:20
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Cultural Imperial posted:Yeah I screwed that up. My bad. It's ok you're ethnic Han  Also get a load of this dude. quote:A lukewarm summer didn’t cool off Toronto’s red hot housing market which remains in sellers’ territory, according to the city’s realtors. The average price of a home in the country’s largest market continued to rise 8.9%...In the much sought-after detached home segment of the market, the average sale price [increased] 14.7%... Animals.
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Sep 5, 2014 04:07
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Cash out before the crash, buy into the depressed market, wash-rinse-repeat until your blood is 10% cocaine by volume.
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Sep 5, 2014 22:32
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Guess I'll rebalancing away from Canadian equity this year...
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Sep 9, 2014 01:48
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I don't think http://vancouverpricedrop.wordpress.com/ has been posted yet in the thread, but even if it has it's good to revisit. It hasn`t been updated in a couple months but even as of July there were some houses that have had their prices reduced by  7-figure sums . e. but we`re different 
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Sep 11, 2014 06:12
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Lead out in cuffs posted:A positive feedback loop, with house prices included, spiralling out of control until the whole system crashes and burns. A glorious socialist utopia shall rise from the ashes. I'm okay with this as long as the TFSA contribution room increases to 10k.
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Sep 12, 2014 20:40
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Glad this hasn't been posted yet. The title says it all: "Millionaires who don’t have any money face having to work to 70" tl;dr: good luck eating those granite countertops when you need food.
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Sep 21, 2014 19:39
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Everything's up so buy cars and good too imo.
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Sep 24, 2014 12:57
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etalian posted:lol What calculator is that from? I move a lot for work and it would be super useful to have a ballpark estimate of what different areas are like.
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Oct 4, 2014 06:08
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Behold the face of BC.some fuckbag posted:[L]ifelong Surreyite Obi Canuel is currently unable to drive because he has refused to remove a spaghetti colander from his head for his driver’s license photo. He does it, he claims, because he believes the world was created by an intoxicated Flying Spaghetti Monster. This douchebag brings down the collective worth of everyone on the west coast. In his spare time he also uses hidden cameras to intentionally rile Jehovah's Witnesses and Salvation Army members over tenets of their faith, proving that he's the bigger rear end in a top hat of them all. e. aw poo poo I got told by rime. Guest2553 fucked around with this message at 06:09 on Oct 9, 2014 |
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Oct 9, 2014 02:52
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Nah, their magic underwear doesn't really work anyways. When it's rear end in a top hat vs rear end in a top hat, rear end in a top hat always wins.
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Oct 9, 2014 03:04
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He gets a bushel of free range potatoes or some poo poo every now and again.
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Oct 12, 2014 16:38
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PT6A posted:none of the sexual liberation. I dunno, it looks like you get hosed pretty good 
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Oct 25, 2014 15:21
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HookShot posted:I think you are mistaken, my dad was in the air force for years and my mom says that when the housing market crashed in the early 90s they knew a bunch of people that were screwed because they bought at the height and then got transferred elsewhere, so had to sell their homes but were underwater on them. If the area is considered a depressed market the treasury board is supposed to reimburse the difference since members don't have much of a say in when or where they're going. The board gets around this by having some pretty janky definitions of 'depressed market' so they almost never pay out, and even when appeal boards rule their decisions as bullshit they can't be compelled to pay. Troops in some locations get hosed pretty hard by the whole thing.
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Oct 26, 2014 04:38
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Kalenn Istarion posted:I'm all for supporting our troops but... They know they don't need to buy when they work in a job that by definition will force them to move every couple years, right? This seems like sort of a self-inflicted problem. It really depends on the circumstances. Buying a condo in Toronto is pretty lolworthy whoever does it, but things like the oil boom in Alberta create some pretty lovely conditions that see people lose tens of thousands. It's hard to find affordable rent in cold lake because troops can't compete with oil firms who pay top dollars for hovels with no questions asked for their workers. This inflates the cost of housing on base because it's by law tied to the local economy and actually resulted in a rent increase cap to delay a spike. Most of those houses are in bad condition and contain asbestos. Heating bills can hit 300/mo in winter because there is next to no insulation. The difference between capped rent and assessed market value is considered a taxable benefit which costs an extra hundred or more a month. There aren't enough houses on base, however lovely they may be, and with stupid low interest rates, the cost of ownership can be competitive with rents (especially given the lovely condition of a lot of the available housing). Something like a third of the people posted there rely on food banks or second jobs to make ends meet, but alternative for many is suck it up and try to make it work or get fired. Not everybody who suffers a loss is eligible for full renumeration, and losses of ten thousand here or there are expected, but there are a non trivial number of people who have their finances long term destroyed because the system that was supposed to prevent it doesn't work. The treasury board also did some gerrymandering with geographical boundaries in the wake of the 2008 meltdown which resulted in nowhere being considered a depressed market so tl;dr: gently caress the troops I guess Guest2553 fucked around with this message at 01:21 on Oct 27, 2014 |
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Oct 27, 2014 01:06
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Eat the
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Oct 31, 2014 06:39
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How to buy a home with your friends Nothing I can really add that isn't already disdainfully implied.
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Nov 23, 2014 18:10
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Clearly, analytical minds are not required for those positions.
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Nov 23, 2014 18:15
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So my parents had to reject an offer on their house in Alberta earlier this year because my dad got cancer and they didn't want to move while he was doing the whole chemo/transplant thing - fair enough. It forced them both to retire - she's in the medical field and was at least eligible for a pension, but all he has is OAS and a couple hundred K in an RESP. Between that alone it would be enough for a simple but comfortable retirement. Not too shabby for immigrants who came to Canada with next to nothing! But then they decided to get an interest a only loan to "invest" in a preconstruction condo project in anticipation of it being ready when he's well enough to move and they can sell. And then an $8000 roof problem developed. And now oil is crashing which will inevitably turn the place into a buyer's market right when they're looking to sell. They built their house 9 years ago for cheap since they had a lot of contractor buddies, so at worst they'd break even on it in the face of a GFC-esque meltdown, but damned if that prefab condo doesn't turn out to be a nightmare in the coming year on top of everything else. Guest2553 fucked around with this message at 19:28 on Dec 23, 2014 |
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Dec 23, 2014 07:00
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X-posted to badwithmoney thread, but what happens when gold meets buttcoin? This!quote:A Canadian startup says it will enable customers to swap their holdings between gold bullion and bitcoins, and it plans an initial public offering next year. The devs are either idiots if they expect it to work out, or assholes for knowing it won't. Gooooo Toronto
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Dec 26, 2014 04:01
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Heh I was just gonna post that horrible financial post article. It recommends making 50K worth of RRSP contributions from the insurance settlement to use the tax return for house. Also to withdraw the 50k you just deposited under HBP, so you can have more monthly payments. I hope they do a 'where are they now' article in 5 years
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Dec 28, 2014 05:24
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eXXon posted:I mean, if you save enough to be able to afford to pay off the balance once the balance transfer offers stop (if they ever do), and if the offers are at a lower interest rate than most government bonds, let alone typical index fund returns... why not? What would you do with the money that could make it worth it, unless you're already deep in the hole and trying to save on interest? Using it as leverage to invest is bad with money, that 1% bond will net you a whole 50 bucks on that borrowed 5k, and the second anything goes wrong you're on the hook for 6 months of retroactive 25% interest? Not worth it IMO. E. Now that I think about it I read an article on some FI type website where, through creative use of churning and balance transfers, a couple was able to effectively get a $16000 loan at -5% interest after factoring in rewards. Can't find it on mobile but I might have it bookmarked at home. Guest2553 fucked around with this message at 18:01 on Jan 1, 2015 |
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Jan 1, 2015 17:57
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Ceciltron posted:Oh, they've held on, it's just the value is gone -I'm not their financial planner, I don't know the details. Their utmost confidence that they will ever recover what they lost (they are now approaching what they initially put in) without trouble and that the past won't repeat itself scares the crap out of me. I'm glad the house has been paid off for a long time. If that's true it sounds like their investments had ridiculously high fees that benefited whoever sold it to them, and is a symptom of greater financial illiteracy (my parents did something similar ). A portfolio with maximum exposure at the beginning of 2008 (100% invested in the S&P index) would have lost about 34.84% that year. Assuming reinvested dividends, returns from 2009 were 31.42% (from new baseline levels). 2010 was pretty volatile but returned 12.48%; volatility continued in 2011 (1.31% loss) but trended back up ever since (11.45% in 2012; 24.36% in 2013; 9.63% in 2014)*. With those numbers one would have recouped the original investment in late 2011, been up 12.67% by the end of 2012, and up about 50% from the pre-crash price.*Source is this calculator based on this guy's work. Ceciltron posted:What I don't get is why people are convinced that it makes sense to just throw money at something and assume that these funds will go to work and earn more money for you. Income that can be generated from capital will always make more than income generated from labor. It's true that you shouldn't invest more than you feel comfortable losing, but the corollary is that you can't win if you don't play. If all your investments go bust then society has probably collapsed, money is useless and the only good income is bullets, tinned food and tylenol. Ceciltron posted:CI's gleeful cackling as the whole capitalist system eats itself alive is one of the few things that cheers me up when reading this thread. yes
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Jan 7, 2015 06:44
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Crossposting this in badwithmoney.txt because it's pretty lol.read your loving contracts, toolbag posted:Hey guys, I would really appreciate some advice. Very simple facts: 1) I signed up for an online trading platform, Questrade; 2) I transferred $10 000 Canadian (CAD) cash to my Questrade trading account; 3) I bought stocks that traded on the New York Stock Exchange. This is what Canadians actually believe. In the spirit of the housing megathread, some mortgage lenders will find themselves up against the wall then the crash comes! Uninsured private mortgages at 5-15% interest for up to 95% of the cost of your house! Or if you want to bankroll this enterprise, you can average a return of 13% or more! Buy now!
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Jan 23, 2015 00:32
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MickeyFinn posted:If this guy is using the value of his mortgage business to take out business loans and then using it to make loans to people, hasn't he effectively reinvented the CDO? It worked for Japan  up until like 1989
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Jan 23, 2015 02:43
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