COVID and the housing market | Page 55 | GTAMotorcycle.com

COVID and the housing market

Liberals are going to be jacking up immigration quotas. No immigration in 2020 and 2021....last I heard it’s going up 50k/year.

400k / year total...


Wtf

Omg why ?

Tons of new grads can’t find relevant work and they wanna bring more competition -_-
Is it time to run away to the US?
 
Wtf

Omg why ?

Tons of new grads can’t find relevant work and they wanna bring more competition -_-
Is it time to run away to the US?
At least partly to prop up the ponzi scheme. Govt doesnt invest, they spend more than they take in. You need higher tax collected every generation to pay for the living generation that no longer works. You can have more people paying, people earning more and therefore paying more or people paying more as a percentage. Canadians dont have many kids so that rules out option 1, option two is unlikely without focus and drive which I don't think is possible in our democratic system so that leaves three. So would you prefer immigration or less take home pay?
 
Wtf

Omg why ?

Tons of new grads can’t find relevant work and they wanna bring more competition -_-
Is it time to run away to the US?
Lucky for you they’re also going to lower the bar to entry. So high tech should be fine for a while.

The worst thing we do for the govt is live beyond retirement (same for unions) because (heaven forbid) we get the money we’ve pumped in our working lives back.

As @GreyGhost says, the ponzi scheme only works as the paying base keeps growing.

i’d prefer to keep my money and invest as I see fit...but opting out is not an option.
 
At least partly to prop up the ponzi scheme. Govt doesnt invest, they spend more than they take in. You need higher tax collected every generation to pay for the living generation that no longer works. You can have more people paying, people earning more and therefore paying more or people paying more as a percentage. Canadians dont have many kids so that rules out option 1, option two is unlikely without focus and drive which I don't think is possible in our democratic system so that leaves three. So would you prefer immigration or less take home pay?

An open immigration discussion would make a MMA fight look like a kindergarten show and tell. The big problem is that the audience doesn't understand that once the fight in the ring is over, the members of the audience have to become participants.

I'm a socialist at heart but haven't seen a democratic government with a sustainable plan for anything, long term. Everything is based on Wimpy's "I'll gladly pay you Tuesday for a hamburger today". Tuesday never comes.

We're doomed. We need immigration but do we import low or high tech?

Import low tech and have higher social costs with housing and grocery subsidies, all to provide cheap labour for the service sector. We need living wages even if we have to pay an extra dollar for a cheeseburger.

Import high tech and we're draining needed resources from the third world countries while making it hard for home grown techies to get jobs.

As a third generation Canadian I don't have dual citizenship. If the good ship Canada starts to sink I can't go back to where I came from. At my age that won't likely be an issue but for someone starting out in the workforce it has to be considered. Every credit card has a limit.

I'm not saying this is a conspiracy by immigrants as most are harder working than the home grown variety but they do have that ace up their sleeve. If I had one and life here became unbearable I would begrudgingly use it as well.

How do Canadians living abroad affect CPP and OAS? I haven't checked.

I assume that CPP and other benefits still get paid but the money doesn't stay in Canada as originally assumed.

If health costs become an issue a Canadian can come home and in a few months medicare kicks in, even if the user hasn't supported the system for decades.

Mention any of the above to your MP and you'll be told "Don't worry, trust me, the budget will balance itself."

How socialist are you?
If you saw a family freezing in front of your house in winter would you let them move in, no questions asked?
Would you pay a hotel to house and feed them on your line of credit?
If you maxed out your resources helping strangers and your kids fell on hard times who gets cut off or thrown under the bus?

Immigration isn't much different in principle.

The truth will be ugly.
 
An open immigration discussion would make a MMA fight look like a kindergarten show and tell. The big problem is that the audience doesn't understand that once the fight in the ring is over, the members of the audience have to become participants.

I'm a socialist at heart but haven't seen a democratic government with a sustainable plan for anything, long term. Everything is based on Wimpy's "I'll gladly pay you Tuesday for a hamburger today". Tuesday never comes.

We're doomed. We need immigration but do we import low or high tech?

Import low tech and have higher social costs with housing and grocery subsidies, all to provide cheap labour for the service sector. We need living wages even if we have to pay an extra dollar for a cheeseburger.

Import high tech and we're draining needed resources from the third world countries while making it hard for home grown techies to get jobs.

As a third generation Canadian I don't have dual citizenship. If the good ship Canada starts to sink I can't go back to where I came from. At my age that won't likely be an issue but for someone starting out in the workforce it has to be considered. Every credit card has a limit.

I'm not saying this is a conspiracy by immigrants as most are harder working than the home grown variety but they do have that ace up their sleeve. If I had one and life here became unbearable I would begrudgingly use it as well.

How do Canadians living abroad affect CPP and OAS? I haven't checked.

I assume that CPP and other benefits still get paid but the money doesn't stay in Canada as originally assumed.

If health costs become an issue a Canadian can come home and in a few months medicare kicks in, even if the user hasn't supported the system for decades.

Mention any of the above to your MP and you'll be told "Don't worry, trust me, the budget will balance itself."

How socialist are you?
If you saw a family freezing in front of your house in winter would you let them move in, no questions asked?
Would you pay a hotel to house and feed them on your line of credit?
If you maxed out your resources helping strangers and your kids fell on hard times who gets cut off or thrown under the bus?

Immigration isn't much different in principle.

The truth will be ugly.

I’m glad I’m 55 and not 25.


Sent from my iPhone using Tapatalk
 
If they need more kids to fuel this ponzi scheme why not make it possible for millennials to afford kids****?

-_-"




^^
*** Median income for people 25 - 34 was 40,200 :|

Good luck supporting a baby on that
 
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If they need more kids to fuel this ponzi scheme why not make it possible for millennials to afford kids****?
Very good question. Answer: The billionaires wouldn't be able to afford their 20,000 square foot mansions and mega yachts.

We have also been brainwashed into thinking cars and vacations are more important than children. Some even deliberately opt forgone offspring so the can devote all their efforts into the one perfect spawn, who in turn will repeat the process.

I don't recall the numbers but the ratio of what the boss makes vs what the lowest paid worker makes has risen by an astronomical amount over the last generation. We will eventually end up as an economic dictatorship, oligarchy or feudal society.
 
@nobbie48 i know plenty of people that work their ass off here, retire, and travel to Europe to live in their home country. My buddy literally just did this and he’s sending me pics of beaches, motorcycles, and pretty women on sandy Portugal beaches.

Everyone that does it says the same thing....Canada is too expensive. I can live like a king back in Europe on my dual country pensions. They come to Canada for X days to keep it active, and then travel back to their other home across the ocean.

I have a huge family back in Poland (approx 20-30 cousins that I can list quickly) and have my dual citizenship. I’m not getting rid of it that’s for damn sure. But the way Poland is going....no plans to go there either.

when the time comes in 20-25 years and I’m still alive I’ll decide then.

On the flip side, my parents both worked in Poland so they’re getting their pensions from there sent to their bank accounts here.

Why not? They earned it and paid into it. I say enjoy it.

More and more young people my age are doing it also. Saying ‘the hell with Canada’...cashing out their massive gains on their houses and moving back to Poland to start a new life because it’s just too expensive to live here. Mind you about 20-30% of them come back because life isn’t always better there.
 
^
Nice

@@nobbie48 - Amazing how the real world works :D. Canada keeps this up and the birth rate goes down too much we will be like Japan soon. It's already starting


This is basic econ 101 stuff you learn so politicians know this will hurt us. (n)
 
^
Nice

@@nobbie48 - Amazing how the real world works :D. Canada keeps this up and the birth rate goes down too much we will be like Japan soon. It's already starting


This is basic econ 101 stuff you learn so politicians know this will hurt us. (n)
Most important is the baby born today doesn’t contribute for 16 years at least.

The immigrant showing up at Pearson today can start contributing tomorrow theoretically.
 
Saying ‘the hell with Canada’...cashing out their massive gains on their houses and moving back to Poland to start a new life because it’s just too expensive to live here.

I was talking to one of my colleagues the other day - Romanian by descent, 1st gen.
He said that he could sell his house here, move to Hungary with his wife, buy a property there (paid for in full) and live off the remaining amount into his retirement and beyond.
He wouldn't have to work a day more, he is in his mid 50s right now...sounds like a dream if you ask me.

I've heard of other people doing the same by moving to places in East /South East Asia and managing on the couple of hundred thousand they took with them there.
 
I often think of buying a small house in mexico(or elsewhere in latin america), unfortunately there isnt a realtor.ca or zillow equivalent for mexico
and any sites are mostly run by snowbird gringos looking to make a buck that always show you inflated prices

like If I had half a mill laying around why would I move to Yucatan?
 
I often think of buying a small house in mexico(or elsewhere in latin america),

Rent a place for a few months first.

It's not for everyone.

Plenty of disillusioned gringos looking to return back to comfort, cleanliness, familiarity and English after realizing home wasn't that bad at all in the first place.

Grass is always greener yadda yadda yadda...
 
Rent a place for a few months first.

It's not for everyone.

Plenty of disillusioned gringos looking to return back to comfort, cleanliness, familiarity and English after realizing home wasn't that bad at all in the first place.

Grass is always greener yadda yadda yadda...

I agree but going back and forth would be nice. That of course means having to maintain residence here.


Sent from my iPhone using GTAMotorcycle.com mobile app
 
I agree but going back and forth would be nice. That of course means having to maintain residence here.

Yes, I believe BPs intention was to move to Mexico *because* of the high cost of living in Canada.

Having both a Canadian residence and a Mexican vacation home kinda runs contrary to that reasoning.

And requires you to be an f-n baller...
 
CMHC is now gunshy about advice after stuffing it so badly last year. They are in a bad spot as people are asking for guidance but they don't get many more chances to be worse than weather reporters before people stop caring what they have to say.


Canada's housing sector is facing a “moderate” degree of vulnerability to market instability for the second straight quarter and showing signs of overheating for the first time this year, says the country's housing agency.
 
Just sell more and whoever bought a week ago gets the warm and fuzzies.

I’m terrified of what will happen once rates have to start creeping up again....it’s not going to be pretty. But I’m sitting on some cash for investing...there might not be a crash is always a possibility.
 
Rent a place for a few months first.

It's not for everyone.

Plenty of disillusioned gringos looking to return back to comfort, cleanliness, familiarity and English after realizing home wasn't that bad at all in the first place.

Grass is always greener yadda yadda yadda...

My brother married a Canadian Panamanian lady and moved down there for a couple of years a decade ago, up in the mountains, not Panama City. He made a couple of mistakes.

1) He felt he couldn't afford to retire in Canada with the lifestyle he wanted. This was his fourth certified marriage with a common-law or two not on the records. His mistakes preceded his move to Panama.

2) He thought he could become a developer, coordinating jobs between the locals and the gringos. He was under financed and it's hard to start a business when your own life is financially underwater.

3) His in-laws lived a different culture. They were simple poor farmers.

When people are dirt poor they don't differentiate. If someone did something for you and you rewarded them by buying them a $1000 leather jacket they would use it while mucking out the stalls in the barn. It's a jacket, not a status symbol. The concept of designer shopping is foreign to them. His S-I-L was about to use his $200 German carving knife as a machete to open a can of beans.

They took down their nearly new Camry and relatives wanted to put goats in the back seat to take to market. Why not? They fit.

4) He was rustic in his language skills. If someone said something in Spanish and everyone laughed was it a joke or were they laughing at him? Innuendo is everything and it gets on the nerves.

5) Being curious I went onto an English Panamanian newspaper and looked at the want ads get an idea of what people bought and sold. Right at the top there was a warning: Fraud is the national sport in Panama. Buyer beware.

6) He was hiring locals to help build the house and they had simple needs. Some of them lived in houses without windows. Trim work was done by machete. If a door closed and kept large birds out it was good enough. The site was getting messy and he told the workers to clean it up while he went to town. When he got back the place was spotless. Everything had been thrown in the garbage including surplus lumber and many of the tools.

7) There was little violent crime where he was but petty crime was rampant. Windows were barred, yards fenced and gated.

8) On the plus side stuff is cheap from dining out to car repairs. A cleaning lady was $2 a day. A labourer was $2 and hour and a skilled trade $4 an hour. He had some body work done on his truck for 1/10th the price of here (Quality was good). Gourmet meals were priced like McDonalds here.

9) Like many places if you come in on a parade float you end up being treated like a clown. He did like to arrive set to impress.

10) There were meeting places where the gringos got together and away from the local culture, back to what they were used to. Fitting in with the locals may be a big step down in lifestyle expectations.

It isn't for everyone. He ended up back here and moved onto the next wife.

SIL stayed down there. I think she would prefer being here but that's a longer story about weird people and bad finances.
 
@nobbie48
More and more young people my age are doing it also. Saying ‘the hell with Canada’...cashing out their massive gains on their houses and moving back to Poland to start a new life because it’s just too expensive to live here. Mind you about 20-30% of them come back because life isn’t always better there.

I'm strongly considering this at 33 years old without cashing out on anything, mainly due to the cost of housing and raising a family in the GTA. I moved to Canada on my own at 18 - got a university education, professional career and had a dream to eventually settle down for good and start a family. But seeing how things are these days, it's more attractive to move back - country of origin has better government in my opinion, more proactive in providing affordable housing to its citizens, good wages and job opportunities, cost of living is much lower and most of the family is there. The more time passes, the more it seems to be a no brainer.
 

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