Angry ginger Posted March 28, 2018 Share Posted March 28, 2018 15 hours ago, f7ben said: My brother is buying my home and I am hoping for rates to hold for another several months or so for him........it was getting ugly there for the last couple months UGLY SMH oh my god a rate in the high 4's not high 3's the world ending. Quote Link to comment Share on other sites More sharing options...
f7ben Posted March 28, 2018 Share Posted March 28, 2018 So how many 100's do we end up down today you can feel the skepticism in the market Quote Link to comment Share on other sites More sharing options...
f7ben Posted March 28, 2018 Share Posted March 28, 2018 (edited) 2 minutes ago, Angry ginger said: UGLY SMH oh my god a rate in the high 4's not high 3's the world ending. High 4's vs high 3's is the difference in someone afford a house and not. I know you wouldnt know whats thats like being your a rich kid but there arent many houses available and its a sellers market......If these mid 4's turn into mid 5's then Bro is gonna have to pass on my house and move to a lower price point Edited March 28, 2018 by f7ben Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted March 28, 2018 Share Posted March 28, 2018 17 minutes ago, revkevsdi said: What would have happened to the stock market and what will happen to housing if interest rates returned to an average rate? im pretty sure many of you are against quantities easing. How many would bail from the stocks for 6% gic’s. How many houses would be foreclosed at 5% interest rates? $400,000.00 mortgages at 2% = $8,000.00 per year extra. That would decimate the housing market. No, GIC's would have to pay out 10% to match a 6% equity return unless you're only in registered accounts. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted March 28, 2018 Share Posted March 28, 2018 18 minutes ago, f7ben said: So how many 100's do we end up down today you can feel the skepticism in the market Place your bets. I'm hoping to add more this week, but its more outside N.A. Quote Link to comment Share on other sites More sharing options...
Anler Posted March 28, 2018 Share Posted March 28, 2018 Market volatility is never a good thing. Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted March 28, 2018 Share Posted March 28, 2018 28 minutes ago, ArcticCrusher said: No, GIC's would have to pay out 10% to match a 6% equity return unless you're only in registered accounts. Not sure about your math there bud. What kind of yield would someone get from a 7% yearly compounded gic? or are you talking tax implications? Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted March 28, 2018 Share Posted March 28, 2018 38 minutes ago, Angry ginger said: UGLY SMH oh my god a rate in the high 4's not high 3's the world ending. 36 minutes ago, f7ben said: High 4's vs high 3's is the difference in someone afford a house and not. I know you wouldnt know whats thats like being your a rich kid but there arent many houses available and its a sellers market......If these mid 4's turn into mid 5's then Bro is gonna have to pass on my house and move to a lower price point Considering both our countries are up to their eyeballs in debt, what does that 1% do to the deficit? what will happen if Trumpster has pissed off tue Chinese enough that they don’t want to buy more debt? Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted March 28, 2018 Share Posted March 28, 2018 40 minutes ago, f7ben said: High 4's vs high 3's is the difference in someone afford a house and not. I know you wouldnt know whats thats like being your a rich kid but there arent many houses available and its a sellers market......If these mid 4's turn into mid 5's then Bro is gonna have to pass on my house and move to a lower price point do you really think i don't know how it effects affordability. I have a couple of customers who will be buying down rates to qualify but those guys pushed the number i gave them to buy where they should not have. From a business perspective i'd love to see rates stay down but reality is anything under 7 is fantastic in the overall scheme but we have a whole generation of buyers who don't realize that. Quote Link to comment Share on other sites More sharing options...
f7ben Posted March 28, 2018 Share Posted March 28, 2018 1 minute ago, Angry ginger said: do you really think i don't know how it effects affordability. I have a couple of customers who will be buying down rates to qualify but those guys pushed the number i gave them to buy where they should not have. From a business perspective i'd love to see rates stay down but reality is anything under 7 is fantastic in the overall scheme but we have a whole generation of buyers who don't realize that. I agree but for my own current situation here I really need them to stay down. I am financed at 4.45 or something right now. We examined his budget and what it allows and he can afford what I am paying right now but if you add another $100-200 per month to the P&I it gets sketchy for him. I have been watching rates daily for about 2 months now and I was starting to get a little worries when the 10 year was approaching 3% Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted March 28, 2018 Share Posted March 28, 2018 11 minutes ago, revkevsdi said: Not sure about your math there bud. What kind of yield would someone get from a 7% yearly compounded gic? or are you talking tax implications? Of course I am talking after tax implications that's why I said unless you're only in registered accounts. The same applies for passive investments. Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted March 28, 2018 Share Posted March 28, 2018 9 minutes ago, ArcticCrusher said: Of course I am talking after tax implications that's why I said unless you're only in registered accounts. The same applies for passive investments. Yesterday you were talking about registered accounts. Since we can put over 30 grand per year in registered accounts, the tax implications aren’t the most important issue. Quote Link to comment Share on other sites More sharing options...
XC.Morrison Posted March 28, 2018 Share Posted March 28, 2018 On 3/26/2018 at 4:24 PM, Highmark said: One hell of a day! Bought a bunch of Amazon late Friday. Finished up $60 today. With today's take and the sale of the Z1T I'll go ahead and order that Poo 850. Something to watch out for: https://www.cnbc.com/2018/03/28/president-trump-reportedly-hates-amazon.html Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted March 28, 2018 Share Posted March 28, 2018 Just now, f7ben said: I agree but for my own current situation here I really need them to stay down. I am financed at 4.45 or something right now. We examined his budget and what it allows and he can afford what I am paying right now but if you add another $100-200 per month to the P&I it gets sketchy for him. I have been watching rates daily for about 2 months now and I was starting to get a little worries when the 10 year was approaching 3% worst case is you pay a point to buy down the rate if needed. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted March 28, 2018 Share Posted March 28, 2018 15 minutes ago, revkevsdi said: Yesterday you were talking about registered accounts. Since we can put over 30 grand per year in registered accounts, the tax implications aren’t the most important issue. Registered accounts it makes no difference since tax efficiency means fuck all. Outside it does, as you would need a 15% interest return to leave you the same as a 10% capital gain. Also we can't put 30K into registered accounts, limit is 26K unless you have unused contribution or you got sucked into an IPP? Please tell me you did. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted March 28, 2018 Author Platinum Contributing Member Share Posted March 28, 2018 19 minutes ago, XC.Morrison said: Something to watch out for: https://www.cnbc.com/2018/03/28/president-trump-reportedly-hates-amazon.html Good, because they are killing mom and pop , brick and morter. I have had it out with more then one customer telling me what he can buy it on Amazon for. Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted March 28, 2018 Share Posted March 28, 2018 4 minutes ago, ArcticCrusher said: Registered accounts it makes no difference since tax efficiency means fuck all. Outside it does, as you would need a 15% interest return to leave you the same as a 10% capital gain. Also we can't put 30K into registered accounts, limit is 26K unless you have unused contribution or you got sucked into an IPP? Please tell me you did. TFSA Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted March 28, 2018 Share Posted March 28, 2018 15 minutes ago, revkevsdi said: TFSA OK 26K RRSP + 5.5K TFSA. Quote Link to comment Share on other sites More sharing options...
snoughnut Posted March 28, 2018 Share Posted March 28, 2018 18 minutes ago, steve from amherst said: Good, because they are killing mom and pop , brick and morter. I have had it out with more then one customer telling me what he can buy it on Amazon for. No question about that. What kind of discussions are you having with your customers? There is no such thing as a wholesaler any more, in most cases internet purchases are far cheaper than wholesalers. Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted March 28, 2018 Share Posted March 28, 2018 8 minutes ago, ArcticCrusher said: OK 26K RRSP + 5.5K TFSA. Correct so for most people 18% of your t4 plus 5,500 is the bulk of their investing. A fund with a 7 percent yield over 10 years is worse than a 7 % compounded gic Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted March 28, 2018 Share Posted March 28, 2018 29 minutes ago, steve from amherst said: Good, because they are killing mom and pop , brick and morter. I have had it out with more then one customer telling me what he can buy it on Amazon for. It's gonna be tuff for them. My wife just came home with an item I found on Wayfair for half of what she paid. Need to have value add going forward. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted March 28, 2018 Author Platinum Contributing Member Share Posted March 28, 2018 4 minutes ago, snoughnut said: No question about that. What kind of discussions are you having with your customers? There is no such thing as a wholesaler any more, in most cases internet purchases are far cheaper than wholesalers. Had a guy last spring come unglued for what I charged him for a backflow rebuild kit. Then he is telling me what he can buy it on Amazon for. I'm a seasonal business buying from a seasonal supplier in a state that requires their employees to have a high min wage , HC and paid sick days. This cocksucker thinks my price is going to compete with some slob selling them out of his garage in Tennessee . Thing is until he saw it on his bill he didn't even know he needed one or what it was. Not to mention I had it stocked on the truck . I have them in all my trucks . Some yrs I will sell them all , Some yrs I don't. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted March 28, 2018 Share Posted March 28, 2018 3 minutes ago, revkevsdi said: Correct so for most people 18% of your t4 plus 5,500 is the bulk of their investing. A fund with a 7 percent yield over 10 years is worse than a 7 % compounded gic Seriously, most people can't beat 2% and they even pay professionals for that, so it matters little. I'm sure many would jump at a 7% GIC regardless if it was in a registered account or not as risk is not in the cards for most. Quote Link to comment Share on other sites More sharing options...
snoughnut Posted March 28, 2018 Share Posted March 28, 2018 2 minutes ago, steve from amherst said: Had a guy last spring come unglued for what I charged him for a backflow rebuild kit. Then he is telling me what he can buy it on Amazon for. I'm a seasonal business buying from a seasonal supplier in a state that requires their employees to have a high min wage , HC and paid sick days. This cocksucker thinks my price is going to compete with some slob selling them out of his garage in Tennessee . Thing is until he saw it on his bill he didn't even know he needed one or what it was. Not to mention I had it stocked on the truck . I have them in all my trucks . Some yrs I will sell them all , Some yrs I don't. I get that shit all the time, I run a 35 yr. old family plumbing biz and it isn't fun any more. Most customers don't give a shit about your costs to run a biz, they only care how cheap they can get the material. I won't argue with customers any more, I just agree with them and tell them, yes you can buy the same products online, we've pretty much just become installers and you have to mark your labor up for loss of product sales. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted March 28, 2018 Author Platinum Contributing Member Share Posted March 28, 2018 The average person dosnt realize what it costs to run a buss. Hell some of my newer competitors don't even realize until their 2nd or 3rd yr in buss. Quote Link to comment Share on other sites More sharing options...
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