It's different here, until it isn't.
We'll see 1970's prices again. In fact at Home Depot I saw a pretty sweet 10x10 for 12 and change, shingles included.
I wonder how long this insanity will last....
- Thread starter mimico_polak
- Start date
We'll see 1970's prices again. In fact at Home Depot I saw a pretty sweet 10x10 for 12 and change, shingles included.
yeah thats it
I know you're joking, but we'll never see 1970s prices again. They're not making any more land and the population has increased significantly due to increased immigration--when I was born the population was 22 million, it is close to 34 million now.
The only time this would happen would be if there was a global pandemic that killed half the global population. But that is indiscriminate as it would hit everyone and it would be bad because what if it killed all the people who build condos? How would we get more condos? We would be forced to use Lego blocks or something and tell stories of the golden age of condos and their shattering glass balconies.
You think that is a credible unbiased source ?? Lol
Check out the book "Average is Over".....yes there are more wealthy people, but there are a lot more people getting poorer (and no longer in the middle class). Since 2008, 75% of the jobs that came back are $13.75 and lower. For every person making $200K there are several making making $27K keeping the average income looking like $70K.
So far, the people waiting for this to burst are losing the bet... just FYI. If you were smart and not terribly risk averse you would've flipped a few houses and condos already
Bingo, this would be why I own more than one property. And since I am slightly risk adverse they are in different market segments and locales.
Only half joking. Google tiny house ontario. Here's my pro tip. Buy the biggest pos house on the outskirts you can afford. If it's a fixer upper that needs to go to the studs, even better. Build a tiny house on the property. Gut the old house, open concept, bike hobby shop. Ditch wife.
So far, the people waiting for this to burst are losing the bet... just FYI. If you were smart and not terribly risk averse you would've flipped a few houses and condos already
Many millions more thought they were smart to he south of us. When everyone starts doing it, its a bubble.
Trade school is not a magic ticket.
In my own case, Apprentice wages would be a significant drop from what I'm making now (which at 47k is not that much) for quite a few years. Plus Ontario has a big problem with Apprentices being dicked around on their Red Seals or their hours being shorted. If you don't like being dicked around, and leave, you can lose many of your logged hours if your former Master/employer refuses to sign off on them (this happens too). Plus there's a shortage of formal Apprentice openings overall (though funny enough there's no shortage of lower-paid labour jobs that just happen to be very similar to Apprentice openings).
Does that happen to everyone? No. But it's not as simple as just going to trade school and becoming insta-rich. Believe me, trade stuff would be much more interesting to me than the stuff I do now. If it were that simple, I'd have gotten much more serious about a career switch.
Hell, if it were that "simple" it wouldn't just be me. Loads of people would be making the switch. Plenty of people have no loyalty to their jobs right now - why stay if you really can make two or three times as much in the trades? The fact is that's true - but only if you're established, or at least working for an established guy who won't dick you around. That means knowing someone. Like every other job, it's about the connections.
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Most people don't have the slightest clue, they simply do what their buddies are doing at the time.
The same people who live pay cheque to pay cheque before buying a home, think they'll be fine with a 600K mortgage
In the end this is who wins http://www.theprovince.com/Canadian...his+year+good+times+coming/9257205/story.html
While canadians... ----> http://www.vancouversun.com/busines...ts+Canadians+record+levels/8909016/story.html
Well I guess you would be the expert so I will take your word for it.
The point remains. Many people have now held off on buying property for many years, fearing a crash which has not yet happened. It may or may not come. It may or may not be drastic, and it's certainly not being predicted well by any of us.
The naysayers have this holier than thou attitude as if they know some secret we don't. Sorry but if you REALLY knew, you'd be a millionaire by now.
Kokla
Well-known member
Seriously, in times where people are betting against investment, no one wins. Unless you're buying failing financial derivatives to bid against. Economics would favour, even if ever so slightly, on the side of the person who plays it conservative.
Did he offer to give you his mortgage rate with BMO??? Young guns coming up and getting full time work in their 20's and a 500,000.00 mortgage are relying on that job for life. Reality cheque will bounce eventually. S#;t happens.
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daught
Well-known member
Dude as an apprentice, I am thankful I am making money while I get my education. Most people come come out with a lot of debt at the end of their education.
It's easy to protect logged hours. Just keep all pay stubs.
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Oh don't get me wrong, it's better than quite a few alternatives, especially if you're younger.
Me, I have to support my wife (who can't work) and pay rent in this town. I don't own a car, don't take vacations, don't have kids, buy cheap or used clothes, never go to bars, pay less than $30/month for both my and my wife's cell phones, don't have cable, barely buy video games, go to movies maybe twice a year, and already split a 2-bedoom apartment with a roommate, so it's not like we're living it up or wasting all our money.
In my own personal case, I have to keep my current income level just to tread water. So dropping to Apprentice wages would put me underwater.
That doesn't mean Apprenticeship pay is a bad deal - it's a damn sight better than the minimum wage a lot of people make. I'm only really saying "Look, it's not as easy as 'Go back to school for trades and be rich!'" as some people were saying.
This works if you're working for a major corporation. Small-timers may not have all the documents they need. Though I have talked to guys who worked for corps that would refuse to sign off on their seal at the end of the Apprenticeship.
I don't mean that everyone gets screwed though... that's really a minority of situations and shouldn't scare people off if they think it's a good career for them. But you do have at least be a little careful.
I found it happened just often enough that I decided I would probably only do an Apprenticeship with someone I could trust (that was if I could afford it).
The bigger problem is probably a lack of people taking on Apprentices (depending on the trade).
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/\ That's why its good to know people, and even then...
I worked for a guy for 4 years and change, and after all those years he tried to **** me out of 50K + at the end of it all
I worked for a guy for 4 years and change, and after all those years he tried to **** me out of 50K + at the end of it all
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Not if I follow your advice and rent! no? then in a few years I would have wasted the 90k in rent and have nothing to show for.
