COVID and the housing market | Page 60 | GTAMotorcycle.com

COVID and the housing market

pretty much given up on finding a gurl and settling down... simply cannot afford it..

what I can do is try and get into housing market ...that seems acheivable as long as I don't end up buying bikes
 
mimico_polak said:
No different than the rent v buy argument @nobbie48 .... sure renting may come out ahead in some instances against buying a property. But it ONLY works if the money you save on renting is invested and beats the equity appreciation of the property. Not many people are able/willing/capable to be that disciplined. I sure am not.
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For sure. You need quite a few select qualities to do well if you're not on the forced-savings/mortgage-payment plan. Diligence, as you mentioned, but also good judgment and research skills.

The choice of *which* investments to put your money into is staggering, and can produce wildly varying end-results.

Most mortgage-payers have their possibilities of where to buy narrowed down significantly, dictated primarily by the location close to where they work.

There's more of a chance to lose big, rather than win big when making stock investments vs real estate. Especially if you're the impatient-type and in a hurry to build wealth fast, you're more tempted to swing for the fences and bet it all (and more) on risky stocks.

Mortgage-Payers typically come out ahead of the Diamond Hands over the long run.
 
crankcall said:
These days , I'm not sure. I imagine there are people doing it, but it cant be fun.

Something I think is sad, is families that can least afford another kid, can tell you to the nickel how much assistance (baby bonus) that kid is worth. You see the 'baby mommas' at the hospital with 4 generations in the room and the oldest person in there is 60.

Back to housing , that renter vs owner, its great to be a renter if your making 300k and rent and investing is easy. Harder if your making 100k and rent is 25% of your gross income. Not a lot left to be invested.
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Plenty of markets to be had still bud... Just need to sniff around at bit
 
sid_for_speed said:
pretty much given up on finding a gurl and settling down... simply cannot afford it..

what I can do is try and get into housing market ...that seems acheivable as long as I don't end up buying bikes
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Consider that if you find the right girl/partner your now income is effectively 2x.

So life becomes easier. But if I considered every girl I met as a liability and simply looked at it financially as a transaction. I’d still be single instead of having a wonderful life with beautiful children.
 
mimico_polak said:
Consider that if you find the right girl/partner your now income is effectively 2x.

So life becomes easier. But if I considered every girl I met as a liability and simply looked at it financially as a transaction. I’d still be single instead of having a wonderful life with beautiful children.
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Agreed. My wife did three degrees (two before I met her). Financially, it would have been better to stop much earlier but we had a chat about perpetual education. She is still not convinced she made the right choices (hopefully just career wise) but understands adulting had to happen. When we got married she had significant negative net worth (last degree had unsubsidized tuition at >$12,000 a year). It's all worked out over time. She works hard and put her head down to wipe out the loans and hammer our first mortgage. I would be in much worse shape without her (probably living in a crap basement apartment with money invested).
 
Finding the gurl you like that can contribute is part 1 of the equation. Then hang on to said gurl. Giving away 50% of your equity blows, worse is giving away a chunk of income for the foreseeable future.

Many friends have chosen path #2, but most also say their lives have improved as a result, financial consequence aside.
 
shanekingsley said:
Two guys I grew up with bought a house together in High Park. The down payment was raised by each of them owning a condo and living in these for a couple of years and then selling for a mild profit.

The house in High Park was divided up into 3 apartments - a 1bdrm basement, a large 1bdrm main floor and a 3bdrm upstairs. The whole house could use some updating, so this was the plan to renovate it on the cheap and flip it after a few years.

Over 3 years they lived in the upper units, rented out the basement, while myself and another buddy lived there too and paid them rent to help pay down the mortgage. The group of us did all the reno’s to the house and significantly relandscaped the front and back yards.
After a few years, they sold the house for a respectable profit and now each one had enough money banked to go out and buy their own houses.

In today’s market, I think what they did is a way that might work, but still requires a good size down payment.

Or just rent and invest wisely.
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creative solution for large systemic problems
mimico_polak said:
Consider that if you find the right girl/partner your now income is effectively 2x.

So life becomes easier. But if I considered every girl I met as a liability and simply looked at it financially as a transaction. I’d still be single instead of having a wonderful life with beautiful children.
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Its like we're back to pre 1960, where you're stuck with a partner because financially you'd be ****** and homeless otherwise
creative solution for large systemic problem


I respect those who take the single/childless route(effectively single)
As a single guy you're flexibility and freedom is ridiculous, you can go anywhere, do anything at anytime.
Want to travel the world? Done. Oh you got a great job offer/career opportunity on the other side of the country? (or another country altogether?) Done.

You can go places and make moves if you're light on your feet
 
bigpoppa said:
I respect those who take the single/childless route(effectively single)
As a single guy you're flexibility and freedom is ridiculous, you can go anywhere, do anything at anytime.
Want to travel the world? Done. Oh you got a great job offer/career opportunity on the other side of the country? (or another country altogether?) Done.

You can go places and make moves if you're light on your feet
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With an understanding spouse, you can have that flexibility but in the interest of maintaining the relationship, the length of time you can disappear is somewhat limited. When our first kid was less than two months old, I got the opportunity to do a job in South Korea. I first talked to them wednesday and was on a plane friday morning. I got back three weeks later to a tired but understanding wife.
 
sid_for_speed said:
pretty much given up on finding a gurl and settling down... simply cannot afford it..

what I can do is try and get into housing market ...that seems acheivable as long as I don't end up buying bikes
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Don't give up ;)

Just wait it out and focus on getting your ducks in a row for 2021 because the market is too insane imo
 
GreyGhost said:
With an understanding spouse, you can have that flexibility but in the interest of maintaining the relationship, the length of time you can disappear is somewhat limited. When our first kid was less than two months old, I got the opportunity to do a job in South Korea. I first talked to them wednesday and was on a plane friday morning. I got back three weeks later to a tired but understanding wife.
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Similar for us. FIFO opportunity came up and I talked to my wife about the pros and cons. We took a week to decide and made the call to do it.

It afforded us the opportunity to pay off all debts, help buy a bigger house, allow my wife to not work and stay home to care for the kids.

We did however have a very clear exit strategy. 24 months (original assignment was 18 months) and after 28 months I was back home.

A marriage is a partnership. Financial, emotional, spiritual and whatever else you want it to be. But you need to have some alignment on your internal desires.
 
bigpoppa said:
Its like we're back to pre 1960, where you're stuck with a partner because financially you'd be ****** and homeless otherwise
creative solution for large systemic problem
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Yes or live at home

mimico_polak said:
A marriage is a partnership. Financial, emotional, spiritual and whatever else you want it to be. But you need to have some alignment on your internal desires.
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What if one partner is like an adult baby? I wonder why they stay with said person (probably due to what bigpoppa said)
 
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george__ said:
What if one partner is like an adult baby? I wonder why they stay with said person (probably due to what bigpoppa said)
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There are people that stay with their abusers...and defend them against others. It's a psychological thing, and reason doesn't convince them to move away.

That's the funny part about humans....we're pretty ****** up. Each one of us in some way.
 
bigpoppa said:
I respect those who take the single/childless route(effectively single)
As a single guy you're flexibility and freedom is ridiculous, you can go anywhere, do anything at anytime.
Want to travel the world? Done. Oh you got a great job offer/career opportunity on the other side of the country? (or another country altogether?) Done.
You can go places and make moves if you're light on your feet
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It's a personality thing. What you're describing may sound like hell on Earth for some people.

The biological urge (or the societal pressure to have kids) is strong for some folks. Also just as difficult if that impetus is much greater in one partner than the other.

When you have kids, the stability and predictability of a permanent home just seem to fall hand-in-hand. Sure, there are the odd anecdotes of the hippy family raising kids in an RV or sailboat, but for the most part, the North American dream is white picket fence, single family home, 2.5 kids and a dog playing in the yard.

*shrug*

Being a DINK was great for us.

Right now, being a ZINK is a little bit more challenging, but we're still managing to having fun.
 
Lightcycle said:
When you have kids, the stability and predictability of a permanent home just seem to fall hand-in-hand. Sure, there are the odd anecdotes of the hippy family raising kids in an RV or sailboat, but for the most part, the North American dream is white picket fence, single family home, 2.5 kids and a dog playing in the yard.
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lol that sounds boring 0_0
 
Lightcycle said:
It's a personality thing. What you're describing may sound like hell on Earth for some people.

The biological urge (or the societal pressure to have kids) is strong for some folks. Also just as difficult if that impetus is much greater in one partner than the other.

When you have kids, the stability and predictability of a permanent home just seem to fall hand-in-hand. Sure, there are the odd anecdotes of the hippy family raising kids in an RV or sailboat, but for the most part, the North American dream is white picket fence, single family home, 2.5 kids and a dog playing in the yard.

*shrug*

Being a DINK was great for us.

Right now, being a ZINK is a little bit more challenging, but we're still managing to having fun.
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Thankfully we have no white picket fence to paint. No half kid either. Dog ran out of time a few months ago so I get a break from those bills as well (~$2000-3000 a year for the past few years, ridiculous).
 
george__ said:
lol that sounds boring 0_0
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It is boring. And i wouldn’t have it any other way.

No matter how **** your day is when a little bubbler calls ‘dadda....swing me’ all the **** goes away.

@GreyGhost no picket fence here either. We’re on a corner lot and I prefer to pretend that it’s all mine so the kids have an addition 10-15ft to run if they want.
 
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