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I read those also and couldn’t believe it. But but but real estate only goes up lol…
People have forgotten that investments (and especially housing) arent guaranteed. As for all those buyers in trouble, screw them. If their house sold for 100 more than they expected, they wouldnt have passed that along. All those examples should have had the buyer with hundreds of thousands of equity in their current home. That will soon be mine for screwing up my plans. They gambled, they lost, not my problem.
A lot of funny business going on in private lending in the Brampton area.Let’s also remember this is Reddit and people love to make others go into a tailspin.The second photo tells you all you need to know about the current housing market...buying a 1.4 mil house with only 60k down. Now needs to come up with an extra 120k. that's a lot of money after taxes are paid on an average salary, about 2-3 years worth of saving while living on a tight budget assuming person makes 70-100k a year. I'm sure the realtors in these deals are innocent too
Also, no way in **** would I sign a mutual release form.
There seem to be some language issues in that post. I think they have put up a 60K deposit (not down payment). They were probably going to put more money in to keep the bank happy and were approved for $xxx but with lower appraisal now they need to come up with another 120K. In this whole scenario, I don't think the 60K matters at all. Maybe the poster thinks that's what they have to lose? If so, I'm sure the reddit army will let them know how screwed their friend is in a cooling market.
People accept lies because the truth hurts. They want to be told their house is worth a ton. They want to be told they deserve the max. They want to be told they are going to get rich. They want to be told nothing can go wrong.
Youre statistically more likely to die on the way to the store to buy the lottery ticket than you are to win.
It’s the realtors fault when it goes sour.
Pensions are something too few people think about. Gov't workers get the thinking done by their employer, as do some in very large companies. The remaining folks have to plan and manage their own retirement funds, and sadly not many people do that well.
My parents went too conservative and inflation and expenses eroded their capital. They didnt want to lose money but they effectively did. They have one pension with survivor benefits so they will be ok.
My parents went very conservative as well, so a few years ago I took over managing their investment portfolio. Their opinion was a reliable 2% return would give them piece of mind that there would always be something left. I've done a better managing it for them while still being conservative, the raging markets helped.
I can't believe the price of townhouses. One around the corner from us near Appleby and Dundas just sold for $1.3M. 2br, 1 car garage - stupid money 1050 sq' townhouse.
PFC? I obviously don't hang out on reddit enough.
Personal Finance Canada. I learned a few things on it, but now it's become a:
There are some breaks for married couples -- pension income can be split, so the clawback starts when a couple reaches a combined income of $160K, and by $260K it's all gone. (halve those amounts for a single Sr.).
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