Have you seen the watch thread! Nothing but ballers up in here.
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COVID and the housing market
- Thread starter mimico_polak
- Start date
nah, not a single Patek or Lange. buncha poor folk on here. except the one guy with a superleggera.
He was trying to sell it. Not sure what his watch collection looks like though. Stb was in a higher snack bracket too. He seems like a Panerai kind of guy with something really nice to break out occasionally.
I follow Peter Zeihan a bit, taking his comments with a rain of salt. However he backs up his comments with facts and if he's correct and this mess isn't over until the cubby lady sings, it could be a very very long time before she busts into song.
Is this the great reset or is the whole thing going to blow over in ten years?
I can't unblock his YouTube stuff but if you want to check in go to YouTube
Is this the great reset or is the whole thing going to blow over in ten years?
I can't unblock his YouTube stuff but if you want to check in go to YouTube
"Peter Zeihan: Canada’s 5 Problems"
Here's an entertaining article. TL: DR If you want to be more secure, use a larger down-payment so your loan is smaller.
While they bring up actual loan values almost doubling, they seem to think that is less important. WTF. Their article is quite accurate if written from the banks perspective and their lack of risk as LTV continues to drop. Pretending that a consumers debt doubling is anything another than a financial whirlpool is idiotic.
cp24.com/news/increasingly-large-down-payments-could-help-gta-homeowners-weather-downturn-report-1.6253905
While they bring up actual loan values almost doubling, they seem to think that is less important. WTF. Their article is quite accurate if written from the banks perspective and their lack of risk as LTV continues to drop. Pretending that a consumers debt doubling is anything another than a financial whirlpool is idiotic.
cp24.com/news/increasingly-large-down-payments-could-help-gta-homeowners-weather-downturn-report-1.6253905
Genius why didn't someone else think of that If you just give them more money you're more secure why not just pay cash at the start and then you don't have to worry about interest rates at all simple.
Sent from the future
DownUnder
Well-known member
My wife's grandfather paid cash for his house in scarborough back in the 50s wile being a laborer and the only one working with wife and 3 kids. How times have changed.
I know I’m old but neither of my parents ever had a mortgage, including a 100acre farm they paid cash , my dad never had a charge card , bought new cars for cash, and thought tbe stock market was for suckers .
I did not embrace that lifestyle.
My dad called me when I was working from home to pick him up at the Chevy dealer to take him to the bank , he was trading in Moms car . Comes out with a bank draft for 32kish , I said the dealer has known you for decades why not write a cheque ? Well the cheque would have a .75 cent service charge and bank drafts are free for seniors . That how you buy a new car for cash ……
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I did not embrace that lifestyle.
My dad called me when I was working from home to pick him up at the Chevy dealer to take him to the bank , he was trading in Moms car . Comes out with a bank draft for 32kish , I said the dealer has known you for decades why not write a cheque ? Well the cheque would have a .75 cent service charge and bank drafts are free for seniors . That how you buy a new car for cash ……
Sent from my iPhone using GTAMotorcycle.com
AllistonGT
Well-known member
My grandparents on my mum's side were the same. Never had a mortgage or a credit card. He did buy a new Buick every 4 years though. Bought a brand new CT70 in the mid 70's. My first introduction to riding. I was about 8. Have a pic somewhere
Honda has a new DAX. Would love one! Not here in Canada though.
Oh, did I go off topic?
I’ve seen the trucker crowd hang on one sentence / word that included ‘great reset’ in it and are convinced we are all being duped by the (insert faceless org here) to become nothing more than slaves.
One word ‘slip’ in their minds, and it’s the sign of a major worldwide coordinated effort to suppress all people.
Maybe I’m just naive in thinking that type of coordination isn’t possible.
Relax
Well-known member
It's actually free to anyone if it's the bank's "idea" - whenever I needed a large certified cheque or bank draft, I'd walk into a branch without notice and ask for it in cash. They'd usually offer a no-fee certified cheque or bank draft so they wouldn't have to hand over actual cash.
Yes. Please continue.My grandparents on my mum's side were the same. Never had a mortgage or a credit card. He did buy a new Buick every 4 years though. Bought a brand new CT70 in the mid 70's. My first introduction to riding. I was about 8. Have a pic somewhere
Honda has a new DAX. Would love one! Not here in Canada though.
Oh, did I go off topic?
Zeihan at least backs up his theories with traceable numbers and uses logic that any rational person could apply. The problem is the shortage of rational people.
To make an omelette, carry eggs, cheese and ham from the counter to the stove, a rational process until you step on a Lego. The world is full of Legos.
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Just for a laugh went out to see 5 houses with my wife to GTFO the house and the screaming kids after a week away...
Wow...what a disappointment that was. Out of the 5 houses...1 was something that was really well done (in our opinion) compared to some of the others.
It was also the ONLY house out of the 5 that didn't seem to be a flipper's project.
1. Check out this listing
- Decent but small all around. Zero yard due to a nice big deck, which I want to use those cable type of barriers on my deck...looks really nice.
2. Check out this listing
- fairly nice house, bad yard, and the amount of room was nice...but super disjointed and unfinished rooms / areas that looked to be in mid-construction
3. Check out this listing
- best house out of the 5. Well laid out, but 2 bedrooms short (used to be a 4 bedroom but they made it into a nice 3 bedroom with an open desk / study area upstairs where the last bedroom was. Looked to be lived in by a couple for a long time. Small backyard, but nice large deck with gazebo.
4. Check out this listing
- Nightmare contractor's jobs....looks decent on the surface...but get into the details and yowza...unfinished, uneven edges, mismatched tiles, etc. badly kept, and 2 illegal basement apartments in the basement. Size wise...perfect. Tiny yard. Water leaking into the garage from the street and the agent said this is 'normal' and that he'll get the 'contractor to come back and fix it'. I'd be more inclined to buy it in untouched form by original owner.
5. Check out this listing
- horribly done, and the stair railing almost gave way when I was going upstairs. Water leak inside basement from one of the drain pipes.
Now we're comparing houses like this to ours...which is in a beautiful area, with a large corner lot, and a 40x60ft backyard.
We'll keep looking for kicks.
Wow...what a disappointment that was. Out of the 5 houses...1 was something that was really well done (in our opinion) compared to some of the others.
It was also the ONLY house out of the 5 that didn't seem to be a flipper's project.
1. Check out this listing
- Decent but small all around. Zero yard due to a nice big deck, which I want to use those cable type of barriers on my deck...looks really nice.
2. Check out this listing
- fairly nice house, bad yard, and the amount of room was nice...but super disjointed and unfinished rooms / areas that looked to be in mid-construction
3. Check out this listing
- best house out of the 5. Well laid out, but 2 bedrooms short (used to be a 4 bedroom but they made it into a nice 3 bedroom with an open desk / study area upstairs where the last bedroom was. Looked to be lived in by a couple for a long time. Small backyard, but nice large deck with gazebo.
4. Check out this listing
- Nightmare contractor's jobs....looks decent on the surface...but get into the details and yowza...unfinished, uneven edges, mismatched tiles, etc. badly kept, and 2 illegal basement apartments in the basement. Size wise...perfect. Tiny yard. Water leaking into the garage from the street and the agent said this is 'normal' and that he'll get the 'contractor to come back and fix it'. I'd be more inclined to buy it in untouched form by original owner.
5. Check out this listing
- horribly done, and the stair railing almost gave way when I was going upstairs. Water leak inside basement from one of the drain pipes.
Now we're comparing houses like this to ours...which is in a beautiful area, with a large corner lot, and a 40x60ft backyard.
We'll keep looking for kicks.
DownUnder
Well-known member
Those deck railings won't be to code in most municipalities. I went to an open house the other day with friends and the place was a complete dump, literally full gut job and it went for an obscene amount, thier real estate agent pretty much said its a money laundering buy. We're in some wierd times right now
Didn't know about those railings not being to code!? I'll have to read into it as our deck is fairly low...but we like the look of that.
Also not surprising, even overheard some agents talking about having people just to drive traffic and they're loving the weather.
We basically saw the same families from house to house as we went...and a few agents going the same route we were.
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