I mean it's a safe space...safer than reddit anyway lmao
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COVID and the housing market
- Thread starter mimico_polak
- Start date
I mean it's a safe space...safer than reddit anyway lmao
Seven or eight years ago a friend survived on about $25,000 a year, Three guys sharing an apartment, next no treats but he managed to pay off a $10,000 visa tab. Rode a bicycle. The family owned a cottage which was his only get away.
油井緋色
The example would build equity but the only cash advantage would be if COLI came out ahead. It's unlikely to be great. When the house was paid off he'd be trying to scrimp to put a bit into RRSPs. A pretty boring life. A vacation would be visiting family or friends out of town.
The trick is to get a down payment in today's market.
I did 90-110 hours a week for about a year after graduating. Paid off OSAP, car and bike. Three days off in the year (xmas, boxing and one more). Boss got ****** a few times when I slept in the car in the parking lot. I had to be back at work in three hours, driving home and back would cost me 45 minutes of sleep. I was happy with my choice. In school, I was working ~40 hours a week while getting my degree so it wasn't that big a change. Obviously I paused all social aspects of life during that year as I had no time to see anyone.
Ask Kim Jong Un. Seriously, Catch 22: work evenings and stay at the same level or study in evenings to get to better paying job.
One problem is the CRA doesn't reward hard work. Whether you put in 40 hours at $40/hr or 80 hours at $20/hr tax is the same.
What is a fair price for a house? What would the price be if we could eliminate foreign buyers, flippers, speculators etc.
After my company let go of half their employees after the DotCom crash, I was on an airplane for business at least twice a week doing the work of 2 people. I remember that one year I slept in hotels for 200 nights. I basically had no life.
But I had a job, which was more than a lot of people had at the time.
As long as you HAVE to. If working less puts you in the streets, you’ll work those hours forever.
If you choose to work those…I give a few months before relationships start failing, sanity starts going downhill, and the rest isn’t pretty.
Not at all not for me anyway. Anyone I know who has tried has lost more than they gained.
Sent using a thumb maybe 2
You would know with FIFO as well. I know someone who had his family falling apart because he was doing site supervision and away weeks at a time. He wasn't working massive hours, just not at home.
I did it one summer only having weekends at home. They were spent doing all the little chores around home that didn't get done weekday evenings. I had a boat moored in Georgian Bay and got to use it twice. The second time was a demo to the couple that bought it.
It used to be that a guy could take a high paying remote job, work for a year or two and come back with a decent down payment. Now he's lucky if he keeps up with house price inflation.
Using the ancient pattern of get married, buy a house, have kids will result in a lot of higher risk 40+ year olds having kids.
I’ve been following the links in Toronto Life magazine on people that want a house / home and are doing it differently.
Young couple just bought a 1860s church in Paisley ( kincardine) for 208k will put 200 in . That’s way ahead of gta . Another bought a restaurant that is housed in a 3 story building out in the sticks , she has a WFH real job , he will run a restaurant, live upstairs.
Opportunity is where you find it
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Young couple just bought a 1860s church in Paisley ( kincardine) for 208k will put 200 in . That’s way ahead of gta . Another bought a restaurant that is housed in a 3 story building out in the sticks , she has a WFH real job , he will run a restaurant, live upstairs.
Opportunity is where you find it
Sent from my iPhone using GTAMotorcycle.com
Either think outside the box or have a couple of well into the six figure incomes. For the average person the marriage, house, kids pattern is doomed if you want a GTA address.
Running a restaurant IMO requires an outgoing personality and a crystal ball.
Work smart, not hard. I'd burn out like that in the first week.
What this means....here's a story:
My old job was ****. Was being paid below Ontario average but I usually had 8 hours of actual work....per week. Did some research about how much devs are actually worth. I handed in an x month notice as a way to "be nice" because I "care about the company" and "don't want to leave." Spent 3 months studying while doing the bare minimum work, studying + work was < 32 hrs a week. I did all my interviews during work hours. After 5 months, I had 3 job offers, with the smallest offer being 2x my old pay. Ended up using my "****** job" as a reference because ppl loved me. To put it more cocky: it means I got paid to learn and get a huge raise.
I have a few dev friends in the same boat, told them the story, they did the same ****. One is working on robotics now with a 2.5x pay increase. The other is a fresh grad who is now at $130k lol.
I'm telling you this because the **** we were fed growing up about working hard leading to good results is complete ********. I've done one overtime week my entire career (10~ years now), spent most of my school years underloaded + working part time which was 30~ hours a week combined, and still ended up top of my class. Most of my peers are similar, except for the crazy fucks who went to med. And remember: I sit around with half naked anime chicks, spend most of my free time playing video games, and talk like 20 year old dumb **** screaming obscenities 9-5 with other 20 year olds. If this sounds ridiculous as **** it's because it is: so if my stupid ass can do it, so can anyone else.
The problem with "working hard" is you remove focus/clarity on the bigger picture and pigeon hole yourself into a ****** ideology that's likely "rat race" oriented. You want a solution to your suffering? Sit in it, let it wrap around and torture you without distraction, then think of a way out lol
Singapore thinking different ...
what struck me was the 80% living in public housing.
Civilization moved forward with public sanitation, roads, water, schools and medical care and even post WWII Job One was affordable housing for those returning from the war.
Housing got left to the predators and now the consequences are unfolding.....
The man who lived in a Singapore forest for 30 years
By Peter Hoskins
BBC News, Singapore
The man who lived in a Singapore forest for 30 years
Mr Oh, who is now 79, lived in a makeshift shelter in woodland in the city-state of Singapore.www.bbc.com
what struck me was the 80% living in public housing.
.
Civilization moved forward with public sanitation, roads, water, schools and medical care and even post WWII Job One was affordable housing for those returning from the war.
Housing got left to the predators and now the consequences are unfolding.....
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If one plays the stock market or has a business it's clear they are taking risk and I got no problem with them reaping the rewards for doing so, but investors in housing here are basically taking no risk (thanks to policy makers) It's basically begging for prices to stay heated as long as this is the case
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Happens all the time.
They'll want to pull out of the deal, and then blame the big bad developer for not giving them a discount.
Meanwhile, if it went the other way...they're smart investors.
Of course the developer also isn't squeaky clean as if the market keeps rocking they will cancel all orders, and say 'ok if you pay $XXX,XXX more you can re-buy it again because reasons'.
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