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the talent deficit posted:You should prob move to Montreal or Ottawa then I've lived in both those cities, and they're nice, but for a bunch of reasons -- not least career -- it'll have to be Toronto. A house will probably depreciate while I own it, but so does my car, and in both cases it doesn't matter until I sell it (or go HELOC I guess).
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# ? Feb 6, 2016 01:13 |
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# ? Jun 2, 2024 07:51 |
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Subjunctive posted:A house will probably depreciate while I own it, but so does my car, and in both cases it doesn't matter until I sell it (or go HELOC I guess). Except the amount you'll stand to lose buying a house in this economic climate would buy a Maserati or nicer, so that's kind of a stupid way to look at it.
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# ? Feb 6, 2016 02:00 |
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Rime posted:Except the amount you'll stand to lose buying a house in this economic climate would buy a Maserati or nicer, so that's kind of a stupid way to look at it. Sure, but it's the situation I'm in, and I can afford the loss, especially amortized over the time I'll own the house. Would it be nice if houses were cheaper? Certainly. That's not one of the options to hand right now, though. I prefer my car to a Maserati anyway.
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# ? Feb 6, 2016 02:25 |
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I think it's ok for people to horribly over-spend on a house if they really want it and fully understand the finances of their purchase.
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# ? Feb 6, 2016 02:27 |
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You'll be paying Maserati prices for a crappy Fiat that will be entirely unsellable in about a year and a half just because you were unwilling to lease for a year.
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# ? Feb 6, 2016 03:23 |
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But I want a house now! Everyone else is a getting a house or condo.
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# ? Feb 6, 2016 03:30 |
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Myriarch posted:You'll be paying Maserati prices for a crappy Fiat that will be entirely unsellable in about a year and a half just because you were unwilling to lease for a year. If the only cars available for lease were Yugos from down at the "no credit? no problem!" lot, this might be a good comparison. I don't know what the rental market is like in Toronto, but I know in Calgary there are enough disadvantages to renting that it still makes sense to buy, assuming you're willing to pay a premium for the advantages of ownership. Yes, you will pay a premium, but every person has to decide for themselves if they find it worthwhile.
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# ? Feb 6, 2016 03:38 |
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I've owned a house before, and as I said if I can find a place I like that's for rent I'll do that, but so far investigating the rental market has not turned up anything I like. I suspect the places I'm looking at (SFH, good schools, good condition, near transit) aren't going to become unsellable, but no doubt if I want to get rid of a house in 18 months I will take a bath. I can afford the 20%+ down payment and more than afford the resulting mortgage payments and property tax, and I don't need to view it as an investment. If I sell it for $300K less in 7 years, I'll frown, but I won't end up eating ramen in my elder years. If my daughter inherits it, I don't care what the market price would be ever. I'm just bummed that I'll be contributing to the further overheating of the market by playing the bidding war game and whatnot. Unless the market crashes before the summer, of course
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# ? Feb 6, 2016 03:41 |
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Hahah your a dumb gently caress
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# ? Feb 6, 2016 04:29 |
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For 39 straight years.
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# ? Feb 6, 2016 04:38 |
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Man, you're willing to eat 300K? You're much braver than I am. That would cover the cost of a kid going through college and med school in the states, or multiple kids going through undergrad and maybe even grad school in Canada. What's your career that makes this a good financial decision, if you don't mind me being a nosy bastard.
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# ? Feb 6, 2016 04:43 |
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Ccs posted:Man, you're willing to eat 300K? You're much braver than I am. That would cover the cost of a kid going through college and med school in the states, or multiple kids going through undergrad and maybe even grad school in Canada. Because the universe is broken, and sometimes rewards are disproportionate to contribution to society, I have been very fortunate in my career, and can afford to eat $300K without affecting my lifestyle. It's not right, and if I were a more strongly moral person I would probably give away enough money that a $300K loss was unthinkable, but here we are.
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# ? Feb 6, 2016 04:45 |
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Well at least we've established here that nobody gets rich through strong financial sense, and they certainly don't stay there without it either. I have a lot of words for someone loving dumb enough to piss away enough money for most people to retire on, knowing they're pissing it away, but I'd really rather you actually pissed it away and then some. Because you deserve it.
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# ? Feb 6, 2016 05:01 |
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Rime posted:Well at least we've established here that nobody gets rich through strong financial sense, and they certainly don't stay there without it either. You seem like a very bitter person. Please try to let go of it, for your own happiness. Have a blessed day.
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# ? Feb 6, 2016 05:02 |
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Rime posted:Well at least we've established here that nobody gets rich through strong financial sense, and they certainly don't stay there without it either. I'm trying to piss it away through philanthropy before I die. I don't believe in dynastic wealth, my daughter is not inheriting riches.
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# ? Feb 6, 2016 05:09 |
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Subjunctive posted:Because the universe is broken, and sometimes rewards are disproportionate to contribution to society, I have been very fortunate in my career, and can afford to eat $300K without affecting my lifestyle. It's not right, and if I were a more strongly moral person I would probably give away enough money that a $300K loss was unthinkable, but here we are. Well, cheers man. Glad to hear you're successful. If you do decide to give to charity in the future I recommend Against Malaria.
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# ? Feb 6, 2016 05:12 |
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Ccs posted:Well, cheers man. Glad to hear you're successful. If you do decide to give to charity in the future I recommend Against Malaria. I'm more of a "food banks and women's shelters and scholarships" guy, but I'll look into that, thank you!
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# ? Feb 6, 2016 05:13 |
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PT6A posted:You seem like a very bitter person. Please try to let go of it, for your own happiness.
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# ? Feb 6, 2016 05:16 |
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Subjunctive posted:I'm more of a "food banks and women's shelters and scholarships" guy, but I'll look into that, thank you! If you want to punish your daughter after you die, endow a scholarship and then insist that she administer it after you die! It worked for my grandfather! (I don't really understand why my dad and uncle hate it so, because I think being able to give away money to deserving people is delightful!)
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# ? Feb 6, 2016 05:26 |
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PT6A posted:If you want to punish your daughter after you die, endow a scholarship and then insist that she administer it after you die! It worked for my grandfather! Yeah, it's one of the best experiences I've had. I think she would enjoy it; whenever we walk to the grocery store, she stops to give money to all the panhandlers and charity collectors along the way. I hope it continues. If I want to punish her after I die, I'll make her inheritance contingent on her reading my posts.
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# ? Feb 6, 2016 05:30 |
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Subjunctive posted:I think she would enjoy it; whenever we walk to the grocery store, she stops to give money to all the panhandlers and charity collectors along the way. You'd be broke as all gently caress if you lived where I do. There's consistently at least one charity mugger between me and the grocery store, and anywhere from 3-5 panhandlers/pseudo-buskers. Am I rude for insisting the buskers at least perfect their craft to the point it's not unpleasant to listen to? I spent a lot of money in the Madrid Metro giving money to buskers who weren't poo poo (seriously, it was around a €5-10/day expense, because I like supporting musicians) I e, but 90% of the buskers in Calgary cause my ears discomfort -- and they don't even bother to play on the C-Train, where I could use a bit of entertainment.
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# ? Feb 6, 2016 05:40 |
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Subjunctive posted:I've lived in both those cities, and they're nice, but for a bunch of reasons -- not least career -- it'll have to be Toronto. I am just
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# ? Feb 6, 2016 06:01 |
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Subjunctive posted:I'm more of a "food banks and women's shelters and scholarships" guy, but I'll look into that, thank you! Not to pile on but you can save a child's life for $3000 through AMF. Save 100 kids if you want.
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# ? Feb 6, 2016 07:19 |
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PT6A posted:You'd be broke as all gently caress if you lived where I do. There's consistently at least one charity mugger between me and the grocery store, and anywhere from 3-5 panhandlers/pseudo-buskers. The last time I saw the buskers in Halifax one of them spent about the same amount of time as his performance took talking about how much live entertainment is worth and how selfish people who walk away or give coins are, so no coins please, only bills Sorry buddy, your catching a watermelon on your head with a nail-filled-pad strapped to it for a few minutes trick isn't worth the price of a movie (his example- people spend $10 on a movie ticket, why not give it to the real performers! )
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# ? Feb 6, 2016 14:26 |
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Subjunctive posted:I'm trying to piss it away through philanthropy before I die. I don't believe in dynastic wealth, my daughter is not inheriting riches. This is a goal I can get behind, HELOC your way to destitution good sir.
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# ? Feb 6, 2016 14:29 |
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Subjunctive posted:I'm trying to piss it away through philanthropy before I die. I don't believe in dynastic wealth, my daughter is not inheriting riches. Assuming you are serious about this... While I agree with the spirit behind this, doing so would put get your daughter in a considerable disadvantage to all her peers. The world is moving in a direction where entrenched capital is becoming an ever-bigger determinant of economic success (ie Jane Austen times are coming back, baby). Inherited wealth gets you better education, contacts, better attitude towards life and capital to start ventures with, since it's a lot harder to start a business when living paycheck to paycheck. I would love for governments to institute a taxing/legal structure to diminish the effect of inherited wealth, but that just ain't gonna happen anytime soon.
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# ? Feb 6, 2016 18:05 |
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Enrollment at local schools is surging as a result of the mass layoffs: http://www.cbc.ca/news/canada/edmonton/laid-off-alberta-workers-retrain-for-non-trades-jobs-1.3436543 quote:Brendon Cunningham used to see a future in oil-stained coveralls. Now he sees a business suit. I'm curious why all the article think oil prices will magically recover in 2016/2017, if anything there's more pressure for prices to stay low IMO such as Iran being allowed back into the market.
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# ? Feb 6, 2016 18:05 |
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Real estate companies coming under police investigation and having their licenses suspended. I expect to see this happening nationally in the future. http://www.cbc.ca/beta/news/canada/newfoundland-labrador/exit-realty-on-the-rock-rnc-investigation-1.3435888
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# ? Feb 6, 2016 19:27 |
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lol tory meltdown time http://www.edmontonsun.com/2016/02/01/humour-hard-to-come-by-in-alberta-these-days quote:Hahahahaha!
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# ? Feb 6, 2016 19:32 |
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etalian posted:lol tory meltdown time Lmao he mean "be there to watch from the front row".
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# ? Feb 6, 2016 19:37 |
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The main lesson from the commodity crash is you should continue to focus your province on commodities.
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# ? Feb 6, 2016 19:41 |
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Newfie posted:Real estate companies coming under police investigation and having their licenses suspended. I expect to see this happening nationally in the future. http://www.cbc.ca/beta/news/canada/newfoundland-labrador/exit-realty-on-the-rock-rnc-investigation-1.3435888 Do you know what the complaint is?
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# ? Feb 6, 2016 19:45 |
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http://www.theglobeandmail.com/news/investigations/the-real-estate-technique-fuelling-vancouvers-housing-market/article28634868/quote:
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# ? Feb 6, 2016 19:46 |
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I will cherish every single story of vancouverites becoming destitute because of failed real estate investments when this all comes crashing down. gently caress everyone here.
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# ? Feb 6, 2016 19:53 |
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I can't believe it's legal for a real estate agent to act as agent for multiple parties in a single sale. Representing buyer and seller is questionable but representing buyer, seller and an unbounded number of assignees is ludicrous
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# ? Feb 6, 2016 21:20 |
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the talent deficit posted:I can't believe it's legal for a real estate agent to act as agent for multiple parties in a single sale. Representing buyer and seller is questionable but representing buyer, seller and an unbounded number of assignees is ludicrous Stop discriminating against Real Estate agents
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# ? Feb 6, 2016 22:18 |
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So condo prices as to be so down in Toronto that developers are now giving you a Rolex Submariner with every suite you buy. Good job Toronto.
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# ? Feb 6, 2016 22:25 |
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Lol at real estate agents not being pointed out as the parties getting paid to do nothing.
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# ? Feb 6, 2016 22:58 |
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Mantle posted:Lol at real estate agents not being pointed out as the parties getting paid to do nothing. It's such a snake oil profession too
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# ? Feb 6, 2016 23:27 |
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# ? Jun 2, 2024 07:51 |
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"Buy something, do nothing, and sell it at a higher price" is how most people are funding their retirements. They're just doing it with stocks instead of real estate.
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# ? Feb 6, 2016 23:44 |