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peter banana posted:Later this year America might get a leader that's significantly more socialist than the most liberal leader we will allow Or possibly some schmuck from Calgary.
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Feb 1, 2016 21:13
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Maybe this is the year of the crash, and the radical idea of debt forgiveness is wheeled out
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Feb 2, 2016 00:16
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To the moon! http://www.vancouversun.com/business/west+block+downtown+vancouver+sells+twice+what+years/11683652/story.html?__lsa=f8f9-1d48
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Feb 2, 2016 00:26
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Lexicon posted:To the moon! Hong Kong real estate prices are tanking and sales volume is down like 80% yoy. Pretty sure Vancouver is just the last of the bubble residue at this point.
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Feb 2, 2016 00:35
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Nah man. With the dollar so low and other markets so volatile there's never been a better time for foreigners to buy into Canada's real estate market. Besides, Vancouver's prices are supported by its pristine natural environment. God aint making any more scenic mountain ranges so buy now while the buying is good.
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Feb 2, 2016 00:40
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Lexicon posted:To the moon! Another good read on this topic: B.C. officials concerned home buyers unaware of real estate risks The headline writer must have not read the article because it's about new developers spending wildly on properties seemingly regardless of the risks involved in the rezoning process.
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Feb 2, 2016 00:43
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Femtosecond posted:Another good read on this topic: Yeah from what I get here it looks like "realtors" are scamming foreign investors into overpaying for land that might not be rezonable at a reasonable price and they, plus the owners they represent, get to take that money to the bank.
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Feb 2, 2016 01:10
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This is pretty compelling: https://storify.com/karamcnair/sandy-garossino-breaks-down-the-province-article-a
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Feb 2, 2016 09:17
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I have a friend of mine who reminded me of this thread. I tried to convince her otherwise but alas, to no avail. She has something like $7,000 in credit card debt, an unused LOC, and a super small mortgage (she had a windfall she used for a massive downpayment on a condo a few years ago). I told her she should probably prioritise paying off the credit card debt first because of the hit she's gonna get from interest, and maybe even looking into potentially using her line of credit to do so (its lower interest than a CC right?), but she wants to keep that LOC open in case of an expensive assessment or whatever on her condo and an upcoming potential roof if her strata falls through on paying for it. Her big thing is that she was worried that if she paid off her credit card quickly she would be "bailing herself out", instead she wants to "punish" herself for her bad spending habits. She also claimed she's always heard that its bad to pay off your credit card in full and that you should be using 1/3rd of your credit card month to month, and paying only minimum. I realized it was a pretty personal/emotional decision so I dropped it but man, its hard to hear your friends making such awful decisions with money. She says her credit rating is fine, and that all else fails when her mortgage comes up again next year she'll roll the debt into the mortgage or something and it'll be fine.
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Feb 2, 2016 17:46
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I would say that is smarter than average, at least she acknowledges that her condo may need expensive repairs.
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Feb 2, 2016 17:53
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some kind of financial BDSM
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Feb 2, 2016 17:57
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Paying 20% CC interest vs 4-5% HELOC or 3% consolidate mortgage, hmm what a hard decision. ed: typically 30% CC interest if you miss a payment as well. Risky Bisquick fucked around with this message at 18:03 on Feb 2, 2016 |
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Feb 2, 2016 18:00
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JawKnee posted:some kind of financial BDSM Canadian Debt Bubble: some kind of financial BDSM
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Feb 2, 2016 18:03
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That's actually a really good thread title. Which mod is still alive
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Feb 2, 2016 18:39
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vyelkin posted:Canadian Debt Bubble: some kind of financial BDSM Are you tired of boring vanilla loans and investments?
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Feb 2, 2016 18:44
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etalian posted:Are you tired of boring vanilla loans and investments? Gonna edge closer and closer to the bubble popping so that when it does pop it'll be way more intense.
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Feb 2, 2016 18:47
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I'm bad at maths, I don't know how to invest, I want someone tell me where to put my money, and then I want to be punished for it
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Feb 2, 2016 18:48
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JawKnee posted:I'm bad at maths, I don't know how to invest, I want someone tell me where to put my money, and then I want to be punished for it Gold. Or Horses. Maybe golden horses.
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Feb 2, 2016 18:51
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My safeword is "home equity"
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Feb 2, 2016 18:53
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Antifreeze Head posted:Gold. Or Horses. You arent thinking big enough https://www.youtube.com/watch?v=7SfDiD8tUT8
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Feb 2, 2016 18:56
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In a sort of hosed up, backwards way at least that person is probably being somewhat honest with themselves? I've met people like that and the sad fact is the moment the CC hits $0 they just rack it up again and spend a bunch of time paying it off. If you're going to just roll $7k of CC balance onto your LoC or whatever you better be drat sure you have the discipline not to just rack up another $7k on the CC and realistically if you got $7k in CC debt already you probably don't unless you've had a huge financial about-face.
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Feb 2, 2016 20:16
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leftist heap posted:In a sort of hosed up, backwards way at least that person is probably being somewhat honest with themselves? I've met people like that and the sad fact is the moment the CC hits $0 they just rack it up again and spend a bunch of time paying it off. If you're going to just roll $7k of CC balance onto your LoC or whatever you better be drat sure you have the discipline not to just rack up another $7k on the CC and realistically if you got $7k in CC debt already you probably don't unless you've had a huge financial about-face. Well I mean she's already done the right thing and got a second card with a $500 limit for random purchases, and hidden away that $7k card, so I don't see why she doesn't pay off her CC with the LoC (or maybe even HELOC if its worth the risk of going from unsecured to secured) at lower interest rate then get hit with that crazy 20% poo poo. I mean I understand wanting that buffer with an LOC, but is the risk vs reward really worth it when compared to the huge huge of 20% on CC debt?
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Feb 2, 2016 20:24
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Melian Dialogue posted:Well I mean she's already done the right thing and got a second card with a $500 limit for random purchases, and hidden away that $7k card, so I don't see why she doesn't pay off her CC with the LoC (or maybe even HELOC if its worth the risk of going from unsecured to secured) at lower interest rate then get hit with that crazy 20% poo poo. I've got a friend in a somewhat similar situation. Well paying professional job and somehow managed to rack up several thousand dollars of CC debt and she had no idea how to pay it off. What helped with her was we sat down together, hashed out what she's currently spending on everything in a month and managed to show that with relatively minor cuts (take a couple less taxis per week. Eat out once less per week, not pay for a $500/month personal trainer when you're thousands in the hole, etc...) she could pay off her debt in less than half the time than she thought. Sometimes thinking of it in "Months till I'm free of this debt" as opposed to "oh poo poo thousands of dollars" makes things more manageable. Also suggested getting a LOC and dumping the CC debt on there while she paid it off since she had never heard of them and had no idea the rates were so much lower. I know tons of people who have no idea about finances past their credit cards.
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Feb 2, 2016 20:41
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Antifreeze Head posted:Gold. Or Horses. Boats. Boats with a stable for your horse, and yooge, luxurious gold decorations. You can't possibly piss money away more efficiently than that.
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Feb 2, 2016 20:47
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Truck Equity was 2014, Boat Equity is the latest and greatest. Your lifted coal rolling truck will rust and lose money, whereas your house boat will gain equity for its low numbered harbor berth close to the parking lot. They say they aren't making more land, but they keep making more houses, Funny that!!! Your pre-sale low numbered mooring at Mount Polley will keep its value for 2 years guaranteed!* * guaranteed zero value mooring will not be worth a negative value for 2 years
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Feb 2, 2016 20:54
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PT6A posted:Boats. Boats with a stable for your horse, and yooge, luxurious gold decorations. Open a coffeeshop/whiskey bar on the boat.
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Feb 2, 2016 20:55
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bartlebyshop posted:Open a coffeeshop/whiskey bar on the boat. I've seen that done successfully, though. Not often, but occasionally. I've never seen anyone ever make money on a boat. Presumably if you could combine airplanes into this whole mess, though, you could create another huge money sink. Perhaps a helipad on the boat or a retractable floatplane dock.
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Feb 2, 2016 21:00
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Make a boat with horsepower provided by horses.
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Feb 2, 2016 21:00
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Jumpingmanjim posted:Make a boat with horsepower provided by horses. .... I like it.
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Feb 2, 2016 21:01
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Jumpingmanjim posted:Make a boat with horsepower provided by horses. This is a real thing, complete with a Horseboating Society.
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Feb 2, 2016 21:09
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bartlebyshop posted:This is a real thing, complete with a Horseboating Society. Neigh, they need to be taught to swim at horse college.
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Feb 2, 2016 21:17
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bartlebyshop posted:This is a real thing, complete with a Horseboating Society. I was really hoping something like a paddle-wheeler with horses inside like giant hamster wheels.
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Feb 2, 2016 21:22
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Escape room boat. Escape boat. Reward is weed.
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Feb 2, 2016 21:24
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A horse-powered flying boat escape room board game cafe is an investment that can only increase in value!
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Feb 2, 2016 22:46
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In World's Best-Run Economy, House Prices Keep Falling -- Because That's What House Prices Are Supposed To Do
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Feb 2, 2016 23:22
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Subjunctive posted:In World's Best-Run Economy, House Prices Keep Falling -- Because That's What House Prices Are Supposed To Do Thanks for the article. I've always wondered why housing bubbles formed and burst in countries like Spain and Ireland but not in Germany, which is arguably the best econony in Europe and assumably a very desirable place to live in. I guess it helps when governments strive to discourage retarded financial attitudes, as opposed to encouraging them. A house, much like a car, will start degrading the day it's completed and will require ever higher maintenance investments along it's life, with a constant tax to be paid for it yearly . I guess there's factors such as the neihborhood improving and whatnot, buy why this 'houses can only go UP!' attitude is so firmly lodged in people's brains is beyond me.
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Feb 2, 2016 23:55
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JawKnee posted:some kind of financial BDSM
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Feb 3, 2016 00:40
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PT6A posted:I've never seen anyone ever make money on a boat. It's rare, but occasionally a dirtbag will make money on boats.
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Feb 3, 2016 00:53
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Freezer posted:why this 'houses can only go UP!' attitude is so firmly lodged in people's brains is beyond me. In many desirable areas, the number of people is increasing faster than the number of homes. Especially the case for homes with certain characteristics that are hard to replicate, like "water view", "close to downtown", "large yard". When there are more consumers than goods, you get upwards price pressure. Very few Canadian jurisdictions, if any, are taking steps to alleviate that pressure in meaningful ways.
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Feb 3, 2016 01:17
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Of course if people couldn't go into government backed crippling debt in order to bid up the prices of these limited goods, the prices would be much lower.
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Feb 3, 2016 01:34
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