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COVID and the housing market

Some random thoughts on partner/marriage and possible divorce..... and in the context of the thread.
  • I firmly believe a partnership of near equals almost always works best, an added plus you nearly double your house buying power assuming both are professionals vs professional and retail worker (or non-worker).
  • Firmly believe that neither should give up their career for kids as once they are early teens that person has nothing to do and reentry is very difficult (assuming a professional career not mall work). It is just not required to raise kids properly, regardless of what stay at home moms claim--aka future wine moms.....
  • If divorce happens both of the above will mean a more equal splitting of assets and no severe monthly punishment from either side. Not to plan for it BTW but the majority of bad cases you hear out there are due to dissimilar income.
  • Both should be involved in day t day finances (helps if both are earning). I have seen too many women (could also be the man to be fair) that let hubby/spouse just do it and either have no skills after death or divorce or at least have no clue.
In the end the heart wants what the heart wants, at the same time I have little financial sympathy for single income families with two parents as it was usually a choice....
 
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backmarkerducati said:
I firmly believe a partnership of near equals almost always works best, an added plus you nearly double your house buying power assuming both are professionals vs professional and retail worker (or non-worker).
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Kill me now

backmarkerducati said:
Firmly believe that neither should give up their career for kids as once they are early teens that person has nothing to do and reentry is very difficult (assuming a professional career not mall work). It is just not required to raise kids properly, regardless of what stay at home moms claim--aka future wine moms.....
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YES

backmarkerducati said:
If divorce happens both of the above will mean a more equal splitting of assets and no severe monthly punishment from either side. Not to plan for it BTW but the majority of bad cases you hear out there are due to dissimilar income.
Click to expand...

YES

backmarkerducati said:
Both should be involved in day t day finances (helps if both are earning). I have seen too many women (could also be the man to be fair) that let hubby/spouse just do it and either have no skills after death or divorce or at least have no clue.
Click to expand...

Maybe
 
I agree with @backmarker , wage disparity can be a complete mess , the one earning lots can feel ‘they earned it’ , the people of leisure think , well I always lived like this . And when it’s over , I need to stay in 4000sq “for the kids” and no I’ll still not be getting a job.

There are thousands of horror stories


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My wife and I have very different incomes...I make about 4x more than her considering the situation. She's been stay at home for a few months now since the birth of the third, and is itching to get back to work (in all honesty so am I).

Maybe it's because of our backgrounds (eastern block) and traditional roles are more in line with what we're used to (both dads work(ed) and the moms stayed at home and dealt with the kids) but it's something that I see quite commonly in our circle of friends.

Hopefully she's not planning on divorcing me anytime soon...or she'll drown me in Cuba when we go.

Fingers crossed.
 
backmarkerducati said:
Some random thoughts on partner/marriage and possible divorce..... and in the context of the thread.
  • I firmly believe a partnership of near equals almost always works best, an added plus you nearly double your house buying power assuming both are professionals vs professional and retail worker (or non-worker).
  • Firmly believe that neither should give up their career for kids as once they are early teens that person has nothing to do and reentry is very difficult (assuming a professional career not mall work). It is just not required to raise kids properly, regardless of what stay at home moms claim--aka future wine moms.....
  • If divorce happens both of the above will mean a more equal splitting of assets and no severe monthly punishment from either side. Not to plan for it BTW but the majority of bad cases you hear out there are due to dissimilar income.
  • Both should be involved in day t day finances (helps if both are earning). I have seen too many women (could also be the man to be fair) that let hubby/spouse just do it and either have no skills after death or divorce or at least have no clue.
In the end the heart wants what the heart wants, at the same time I have little financial sympathy for single income families with two parents as it was usually a choice....
Click to expand...

In my circle and acquaintances it's been the complete opposite. The working couples have all been having trouble being around eachother during wfh, a lot have been f%#&ing around too and getting caught out since theyve been spending so much time together. The families with stay at home mothers/fathers have been pretty solid.

I also don't agree that career should come before kids. Kids will always be better off raised by their parents rather then daycares.
 
The family reform act fixed a lot of problems but created a bunch more. The minority of decent soon to be ex-husbands got punished along with the bad apples.

A friend got screwed when his father in law went psycho. Two kids because of the agreement are entitled to as much education as they want, fully paid for. One is milking it. Wife stands to inherit a million plus but it's a windfall and doesn't count in alimony / support calculations. His parents are gone and left him a pittance.

Cause if divorce: She wasn't happy. The uni courses she took didn't pan out.

After a few years he met a new lady and is happier than ever. His biggest hurt is one daughter hasn't spoken to him for years.
 
GreyGhost said:
A great Marketplace investigation. Six out of ten RE agents offered to help with mortgage fraud for a commission (~1% of mortgage). Reco says they are on top of the situation and have disciplined seven people in the last five years. About what I'd expect from those losers.

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This is so rampant it's hilarious. My friends all told me 'call my guy, he'll be able to hook you up. 5k and you can keep the 6-plex, get a house, and everything is taken care of'.

I was scared to do so and get caught...they weren't. They made out like bandits.
 
mimico_polak said:
This is so rampant it's hilarious. My friends all told me 'call my guy, he'll be able to hook you up. 5k and you can keep the 6-plex, get a house, and everything is taken care of'.

I was scared to do so and get caught...they weren't. They made out like bandits.
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It's crazy how easy it is to find these licensed people who will risk everything
 
mimico_polak said:
This is so rampant it's hilarious. My friends all told me 'call my guy, he'll be able to hook you up. 5k and you can keep the 6-plex, get a house, and everything is taken care of'.

I was scared to do so and get caught...they weren't. They made out like bandits.
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This is where it helps to have a second language. "I no be it understand. I no read no good inglich"

The only way to stop this is to go RICO act. Racketeer influence / corrupt organizations or proceeds of crime and massive fines.

Take everything they own. Let them keep a little bit if they squeal on another.

Yours truly,

Attila the Hun
 
Georg3__ said:
It's crazy how easy it is to find these licensed people who will risk everything
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What the risk? 'Here Mr. Banker, look at the forms that the owner filled out and signed. It all checked out.'

The risk is to the buyer, as everyone else along the chain just plays stupid.

'But these were the documents submitted to me, they all matched and are legit'.
 
Georg3__ said:
It's crazy how easy it is to find these licensed people who will risk everything
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What risk? The limited sample showed 60% are openly willing to commit fraud. There are 82,000 re agents in ontario. Approximately one a year gets sanctioned. That means approximately 49,199 get away with it every year.

Obviously there are issues with the small sample size so that isnt quite accurate but the order of magnitude probably is.

If you could make an extra 50k a year cash and the chance of getting caught over your 40 year career was less than 0.1% would you do it? Even if you get caught, it is a slap on the wrist not a complete destruction of your life.
 
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GreyGhost said:
What risk? The limited sample showed 60% are openly willing to commit fraud. There are 82,000 re agents in ontario. Approximately one a year gets sanctioned. That means approximately 49,199 get away with it every year. Obviously there are issues with the small sample size so that isnt quite accurate but the order of magnitude probably is. If you could make an extra 50k a year cash and the chance of getting caught over your 40 year career was less that 0.1% would you do it? Even if you get caught, it is a slap on the wrist not a complete destruction of your life.
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Exactly. Hell I know I would try it too...5k/application cash...but 1-2k has to go to the next guy in line to approve the first guy's documents, so let's say 3k/person cash...it's another income stream.
 
GreyGhost said:
A great Marketplace investigation. Six out of ten RE agents offered to help with mortgage fraud for a commission (~1% of mortgage). Reco says they are on top of the situation and have disciplined seven people in the last five years. About what I'd expect from those losers.

Click to expand...

Once again a small news crew does a better investigation in probably 2 weeks than what would probably take a government authority 18 months to come up with, including many mistakes along the way which would get charges thrown out in court. The cbc marketplace segment is now posted on youtube.

Just like the article the other day on CP24 a small Toronto tech company cloned the ArriveCan app in less than 24 hours, where the government needed to spend over 20 million on same simple app.
 
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Mikedezo44 said:
Once again a small news crew does a better investigation in probably 2 weeks than what would probably take a government authority 18 months to come up with, including many mistakes along the way which would get charges thrown out in court. The cbc marketplace segment is now posted on youtube.

Just like the article the other day on CP24 a small Toronto tech company cloned the ArriveCan app in less than 24 hours, where the government needed to spend over 20 million on same simple app.
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I knew a software genius that was head hunted to an American Bank. He wasn't making that much coin because unlike the other programmers he got the job done as quickly as possible. Guess what kind of programmers the government hires.
 
nobbie48 said:
I knew a software genius that was head hunted to an American Bank. He wasn't making that much coin because unlike the other programmers he got the job done as quickly as possible. Guess what kind of programmers the government hires.
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lol, have you worked in the government as a programmer? it takes x4 the time to go through the red tape to show that your work is not "a waste" of taxpayers money... the good ones quit after a while and go work for banks...
 
Re : cloning an app, complete bull crap. You can see everything that it needs to do , and pretty much how they got there .
Why do you think China reverse engineers thousands of products a yr ? It’s easy and it’s fast. Silliest news story this month .


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It's interesting to see what people value and are willing to pay. Two houses for sale near Barrie for roughly the same price. One is a semi to be built soon (4bed, 3 bath) in a 25' subdivision lot. New subdivision so you will be living with construction and dust for a decade. The other is ~50 yo bungalow (3 bed, 2 bath) on 20 acres. About seven minutes apart by car. Bungalow sold in 70 days. Semi just listed, I suspect it will be a hard sell as who wants to pay seven figures for a semi outside of barrie.
 
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