Yeah, some of my friends my age are grandparents. Other friends, same age, with toddlers.
|
|
|
COVID and the housing market
- Thread starter mimico_polak
- Start date
Yeah, some of my friends my age are grandparents. Other friends, same age, with toddlers.
D
Deleted member 50930
Guest
^^
YUP. My one friend has kids ~9-10
Time flies
YUP. My one friend has kids ~9-10
Time flies
Still are. We were ok with paying for disposable to avoid washing a literal load of *&^*&^ every few days.
Cloth diapers were once a thing
Not gonna lie, my dudes... the posts above just look like random words on the screen to me.
I live vicariously through your posts and blogs. Could never do that life, but am in awe of those that can.
You had the opportunity. Could have traded the WRX for a shiny new 1250GS. Used the change for some 4 season gear and been the very definition of F’in Baller.
You blew it. ?
Pretty sure the previous owner annexed some of the land from city of Mississauga ... I’m just gonna play stupid
I made it most of the way there, then one choice and poof.
Sent from my iPhone using GTAMotorcycle.com mobile app
Ze Churmans haff no interezt in invading Mimico!
Neither does he. He ran away but keeps the name to confuse the invading forces.
They said they didn’t have any interest in Poland either....yet that didn’t work out too well for the world.
Id love to return back to Mimico @GreyGhost ...got priced out of there years ago.
There is a basal financial amount that is the minimum amount of money to just sustain a person or family if they do absolutely nothing. Three hots and a cot with the three hots being rice and beans. Jail without the padlock.
I knew a guy that was in that position five years ago and was making $25 K a year. He paid off a $10 K credit card tab in three or four years, He rarely drove, had a rented room in a condo, didn't go out. If a guy making $100 K did that he might be able to save $50 K but what is the minimum buy-in for a place in the GTA and can the guy accumulate enough down payment to make ownership possible?
For giggles I played with some numbers:
Assume that the $100 K guy isn't a stock market wizard and saves the $50 K in a bank account. Three years later he has $150 K but the basic home has gone up $200 K, from $700 to $900 but he has a 17% down payment and a $750 K mortgage. Use the same ratios and if he waits another three years the place s $1.15 M, he has $300 K which is a 26% down payment and a $850 K mortgage. Three years again and the place is $1.47 M, the guy has $450 K, 30% down and a $1.02 M mortgage. It would take a bit of math I haven't used in years to determine the point where his down payment as a percentage of the purchase price starts to drop.
There doesn't seem to be a rise in wages on the horizon and interest rates may be in the gutter until the ship sinks. A rise in interest rates could wipe out the construction sector and the business sector at the same time. I don't see any government doing that. The only thing the guy can do is create extra income with a part time job or reduce expenses, food bank and flop house.
The lowest price may not be the least expensive. A high maintenance condo with a bad reputation and a lower than normal expectation of capital gain would be a poor investment.
Diaper service ftw.
If he can invest at the same rate (8.738%) that your imaginary housing market is growing, he will have saved $277,774 after the three years.
Edit: Might only be $163,489, since the calculator started out with 50,000. Then again, the $50,000 during the last year might be missing.
Last edited:
If your dog gets pregnant you can sell the offspring.No matter how crap my day is.....a 75lb idiotic furball sitting on your lap demanding attention, licking your face makes it all go away. Plus I can put the dogs in a kennel...plus they aren't fussy about their food....and they don't need RESPs.
And yes...I'm completely aware of what they were licking before they licked my face and it's still not as gross as a kid with a diaper full of cack slithering across my floor!
I agree with this in theory.
But in practice, buddy with the wad of cash looking to "invest" it is flooded with a deluge of options and opinions.
Where exactly does he put it? ^XIU? GME? Gold? Crude? REITS?
Goes to the bank and the "advisor" sells him a bunch of mutual funds and he gets raped with high MER and lacklustre returns that don't even keep up with inflation.
Diamond Hands tell him to HODL, YOU FOOKIN RETARD! And he loses 90% of his capital overnight.
This "investing" thing is a steep learning curve with a myriad of pitfalls along the way.
8.738% is easier to say than to do when you're brand new at it.
Ki
Kids resp is all xqq right now. >16% average yearly return since inception. For shorter term investments I wouldnt use the currency hedged version.
|
|
|
|
|