Gold Member ZR800efi Posted July 13, 2022 Gold Member Share Posted July 13, 2022 (edited) I swear if anyone out there still votes liberal up here next election after this mess is straight up retarded. thanks trudy. https://www.cbc.ca/news/business/bank-of-canada-rate-hike-1.6518161?fbclid=IwAR2VHG-qtYQ67zMDsbtXv_6MjoJh26aIh1T0ZMaaJ18sWogNbp15iEtxTOM Edited July 13, 2022 by ZR800efi Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted July 13, 2022 Share Posted July 13, 2022 100 points increase means they were caught off and are desperate. 1 Quote Link to comment Share on other sites More sharing options...
irv Posted July 13, 2022 Share Posted July 13, 2022 (edited) 4 minutes ago, ZR800efi said: I swear if anyone out there still votes liberal up here next election after this mess is straight up retarded. thanks trudy. https://www.cbc.ca/news/business/bank-of-canada-rate-hike-1.6518161?fbclid=IwAR3eWCVq4Ln-2R7joLJ3woilWD4siY_mJ2vjOLPDMsmlEAQb28zIgq2TbW4 Just fixing your link so it opens. https://www.cbc.ca/news/business/bank-of-canada-rate-hike-1.6518161?fbclid=IwAR3eWCVq4Ln-2R7joLJ3woilWD4siY_mJ2vjOLPDMsmlEAQb28zIgq2TbW4 Edited July 13, 2022 by irv 1 Quote Link to comment Share on other sites More sharing options...
Rod Posted July 13, 2022 Share Posted July 13, 2022 2 minutes ago, ArcticCrusher said: 100 points increase means they were caught off and are desperate. People with huge equity loans to pay for their boat and camper are gonna be effffffed 1 Quote Link to comment Share on other sites More sharing options...
Gold Member ZR800efi Posted July 13, 2022 Author Gold Member Share Posted July 13, 2022 1 minute ago, irv said: Just fixing your link so it opens. https://www.cbc.ca/news/business/bank-of-canada-rate-hike-1.6518161?fbclid=IwAR3eWCVq4Ln-2R7joLJ3woilWD4siY_mJ2vjOLPDMsmlEAQb28zIgq2TbW4 i fixed er .thanks though 1 Quote Link to comment Share on other sites More sharing options...
Gold Member ZR800efi Posted July 13, 2022 Author Gold Member Share Posted July 13, 2022 (edited) so glad i locked in @ 1.6 during batflu season. variable can suck my cock. Edited July 13, 2022 by ZR800efi Quote Link to comment Share on other sites More sharing options...
awful knawful Posted July 13, 2022 Share Posted July 13, 2022 So glad I don't owe anything. 1.6 is awesome. 2 Quote Link to comment Share on other sites More sharing options...
Gold Member ZR800efi Posted July 13, 2022 Author Gold Member Share Posted July 13, 2022 (edited) 2 minutes ago, awful knawful said: So glad I don't owe anything. 1.6 is awesome. got in on the rock bottom.made the jump from renting to owning mid pandemic. solid move in retrospect. locked in 4 more years. Edited July 13, 2022 by ZR800efi 1 Quote Link to comment Share on other sites More sharing options...
SkisNH Posted July 13, 2022 Share Posted July 13, 2022 20 minutes ago, ZR800efi said: I swear if anyone out there still votes liberal up here next election after this mess is straight up retarded. thanks trudy. https://www.cbc.ca/news/business/bank-of-canada-rate-hike-1.6518161?fbclid=IwAR2VHG-qtYQ67zMDsbtXv_6MjoJh26aIh1T0ZMaaJ18sWogNbp15iEtxTOM Raising rates is the right thing to do....I wish our FED was that aggressive with the rate hikes. Quote Link to comment Share on other sites More sharing options...
Gold Member ZR800efi Posted July 13, 2022 Author Gold Member Share Posted July 13, 2022 (edited) 5 minutes ago, SkisNH said: Raising rates is the right thing to do....I wish our FED was that aggressive with the rate hikes. they had no choice with inflation getting out of control, agreed. going to fucking suck for the keeping up with the jones's crowd though. so many people i know are already house poor as it is. fucking half a mansion, eating kraft dinner 5 days a week lol. the need to curb inflation is because our retarded gov is out saving the world ' on our wallets in the first place. you can only blame covid for so much.its been a complete mismanagement shit show since they got in. Edited July 13, 2022 by ZR800efi 1 Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted July 13, 2022 Share Posted July 13, 2022 4 minutes ago, SkisNH said: Raising rates is the right thing to do....I wish our FED was that aggressive with the rate hikes. No it isn't. It's the common playbook but housing was already in retreat. This will only compound a crash. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted July 13, 2022 Share Posted July 13, 2022 11 minutes ago, ZR800efi said: got in on the rock bottom.made the jump from renting to owning mid pandemic. solid move in retrospect. locked in 4 more years. Good for you now get ahead of your payments for when you renew, this won't be temporary. 1 Quote Link to comment Share on other sites More sharing options...
Gold Member ZR800efi Posted July 13, 2022 Author Gold Member Share Posted July 13, 2022 (edited) 1 minute ago, ArcticCrusher said: Good for you now get ahead of your payments for when you renew, this won't be temporary. for sure. they are predicted to creep back down to 2 percent by 2024, but not before several more short term hikes. terrible time to be in a variable rate right now. bend over. Edited July 13, 2022 by ZR800efi Quote Link to comment Share on other sites More sharing options...
SkisNH Posted July 14, 2022 Share Posted July 14, 2022 14 minutes ago, ArcticCrusher said: No it isn't. It's the common playbook but housing was already in retreat. This will only compound a crash. Well...here in the states inventory is still very low and housing sales are slower but still very strong. Retail sales are still strong. We definitely need to cool this economy as a 9 2% inflation rate will cut everyone's savings in half withing 8 years. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted July 14, 2022 Share Posted July 14, 2022 I can't speak for Canada, but when there's a 2-5 month wait for a rental as there is in many US cities both big and small, there's going to be no housing crash. Quote Link to comment Share on other sites More sharing options...
Rod Posted July 14, 2022 Share Posted July 14, 2022 2 minutes ago, spin_dry said: I can't speak for Canada, but when there's a 2-5 month wait for a rental as there is in many US cities both big and small, there's going to be no housing crash. Housing shortages are made by government Quote Link to comment Share on other sites More sharing options...
spin_dry Posted July 14, 2022 Share Posted July 14, 2022 Just now, ACE said: Housing shortages are made by government When regulations become too steep for new construction, sure. But there's far more factors involved. Cost of raw materials and labor is a factor. In my area it's now a lack of labor. Builders have a huge backlog with no workers. Carpenters, plumbers, electricians...... None available. . Quote Link to comment Share on other sites More sharing options...
Rod Posted July 14, 2022 Share Posted July 14, 2022 4 minutes ago, spin_dry said: When regulations become too steep for new construction, sure. But there's far more factors involved. Cost of raw materials and labor is a factor. In my area it's now a lack of labor. Builders have a huge backlog with no workers. Carpenters, plumbers, electricians...... None available. . I’d say one of the largest factors how all regulations favour tenants. You can’t even evict them I have one rental and got a call the other day about my tenants dogs harassing the neighbours cats. I was told if my tenants don’t accept the fine then I get it. Fuck that. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Rigid1 Posted July 14, 2022 Platinum Contributing Member Share Posted July 14, 2022 8 minutes ago, ACE said: I’d say one of the largest factors how all regulations favour tenants. You can’t even evict them I have one rental and got a call the other day about my tenants dogs harassing the neighbours cats. I was told if my tenants don’t accept the fine then I get it. Fuck that. A fine? For what? And who is gonna fine you? Quote Link to comment Share on other sites More sharing options...
SkisNH Posted July 14, 2022 Share Posted July 14, 2022 Imagine Lawyers were like Landlords....and the govt used the Plandemic and had a moratorium on legal fees... Quote Link to comment Share on other sites More sharing options...
spin_dry Posted July 14, 2022 Share Posted July 14, 2022 19 minutes ago, ACE said: I’d say one of the largest factors how all regulations favour tenants. You can’t even evict them I have one rental and got a call the other day about my tenants dogs harassing the neighbours cats. I was told if my tenants don’t accept the fine then I get it. Fuck that. Regardless, owning rentals is highly profitable and isn't stopping more apartments from being built. The passive income during retirement years is extremely attractive. I sold my rentals because I wanted to be free of the responsibility. I had them for 30 years and was just done. The one regret I have is that I never got into storage facilities. If I had to do it over I'd have built 100-150 units. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Jimmy Snacks Posted July 14, 2022 Platinum Contributing Member Share Posted July 14, 2022 39 minutes ago, spin_dry said: Regardless, owning rentals is highly profitable and isn't stopping more apartments from being built. The passive income during retirement years is extremely attractive. I sold my rentals because I wanted to be free of the responsibility. I had them for 30 years and was just done. The one regret I have is that I never got into storage facilities. If I had to do it over I'd have built 100-150 units. They can’t build them fast enough around here. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted July 14, 2022 Share Posted July 14, 2022 9 hours ago, spin_dry said: Regardless, owning rentals is highly profitable and isn't stopping more apartments from being built. The passive income during retirement years is extremely attractive. I sold my rentals because I wanted to be free of the responsibility. I had them for 30 years and was just done. The one regret I have is that I never got into storage facilities. If I had to do it over I'd have built 100-150 units. No they are not highly profitable, for the most part they are a pain in the ass. If they were you wouldn't be living in a van. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted July 14, 2022 Share Posted July 14, 2022 8 hours ago, Jimmy Snacks said: They can’t build them fast enough around here. How many do you own? Quote Link to comment Share on other sites More sharing options...
SkisNH Posted July 14, 2022 Share Posted July 14, 2022 (edited) Rentals typically return higher than the stock market...but the pain in the ass factor is much higher. The risk is similar, as you will have Tennants not pay or if they leave and you lose a month's rent cleaning and painting....or....The fucking govt tell people they don't have to pay rent because of a plandemic. I suggest holding both stocks and rentals....just make sure your shit cash flows or you can end up in a world of hurt real quick (better yet own them debt free) Edited July 14, 2022 by SkisNH Quote Link to comment Share on other sites More sharing options...
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