It would be a diff story if THEY were to build a 6000sqft monster. But because it’s someone else…
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Mortgage Rates
- Thread starter ToSlow
- Start date
Forecasters split on how high Bank of Canada will push next rate hike — The Globe and Mail
Expectations are that Bank of Canada head Tiff Macklem will raise interest rates once more this week, bringing the bank’s benchmark rate to 4 per cent for the first time since early 2008
apple.news
Can confirm. Parents have had the cottage for 20+ years with no neighbours on either side.
One side was developed and sold 2x already. Other side is being cleared in prep for sale.
While I understand it’s not our land…damnit I’m not happy!
That could be the same as 'XX% of people are $500 away from bankruptcy' which is a load of bull.
I know many people that were using their HELOC as a spare bank account...so those who racked up >100k on the HELOC for kicks...they'll start feeling the pain.
I'm already preparing the lube for my next rate hike this week.
The last one spawned a toy sale, lose the house, boat or cottage.
Covid could have a silver lining. At least the above will retain some value. Covid cancelled a lot of expensive vacations that would have no residual value.
You can't sell off the house renovations either. Furniture might be ten cents on the dollar if you're desperate.
Mad Mike
Well-known member
My guess is the toy sale begins in Feb. Credit card debts peak, variable mortgage rate hikes will be hurting. Those with secondary lending who purchased at peak 2022 will be facing ouchy underwater renewal terms.
I expect expensive cars will dump first, then boats, then other toys, and finally houses. I'm gonna sit on some cash for a few months, spring could bring bargains.
I expect expensive cars will dump first, then boats, then other toys, and finally houses. I'm gonna sit on some cash for a few months, spring could bring bargains.
If people bought in 2022 then their renewal would most likely be 2026-2027 so lots of time to prepare.
Unless they’re variable…then good luck with that.
As for toys…I’m waiting with my HELOC.
I’m more curious to see whether contractor prices will start coming back down to earth as my 250-300k reno May be cheaper?
Mad Mike
Well-known member
I'm thinking 2018 renewals. The might be OK with equity,but not cash flow. Those who bought at peak by stretching with higher risk lenders who give 1 year terms.
Your also going to see pre-build buyers deciding between BMW and walking from their downstrokes as their new homes finish.
I don't want a sell-off Bimmer, but maybe a cheapie condo I can lord out.
Mad Mike
Well-known member
Big diff between here and the USA in contractor gouging. I just got the bill for replacing my heat pump down south, it got pooched under 5' of hurricane seawater. 4ton ac/heat pump with 2 air handlers, linesets to 2 floors, and 2 Nest stats cost $4200 to replace.
2 ton 1 zone was quoted at $8700 here without a stat.
That’s a fair estimate, the hardware costs 20-30 % less in the US . After exchange it’s on target .
A contractor friend gave us his cost on a furnace , from a wholesaler , which would be about my retail cost in the US .
Sent from my iPhone using GTAMotorcycle.com
A contractor friend gave us his cost on a furnace , from a wholesaler , which would be about my retail cost in the US .
Sent from my iPhone using GTAMotorcycle.com
Depends on what type of dispute.
For chargebacks i had to take on cases myself and we managed to get money back very often. Sometimes it was a PITA when merchants were fighting back like slimy aholes...sometimes the customer just "didnt want to even try to talk to the merchant" which doesn't work in the advantage.
In terms of interest being charged, yeah it was super rare that anything was off. Sometimes if the client was nice enough the agent could get a good will gesture put through but it was to be on an exception basis.
Man i dont miss those days
Any clever HVAC guys? My ancient wall mounted direct vent natural gas heater is on the fritz. Normally when it comes on there is a mild whump sound as it ignites. Now when it is running it WHUMP! and then again not too long after. Wife heard it in the house and thought it was a car door slam. She looked out heard it again and swears she saw a flash from the exhaust vent. (this is the garage heater)
I've turned it off and I'm waiting on the service guy. Hope it's minor a new 25K BTU unit at HD was about $4K.
Edit: Sorry thought I was in the covid/house thread
I've turned it off and I'm waiting on the service guy. Hope it's minor a new 25K BTU unit at HD was about $4K.
Edit: Sorry thought I was in the covid/house thread
Cars are touchy. Most people need them. Then is it owned or leased? There is a cost to breaking a lease and then you have to lease a cheaper model which may require a down payment. I've seen ads where people pay to get others to take over leases. Check the mileage and terms. My brother was offered one with a year and a half left on the lease but only 10,000 kms before mileage surcharges kicked in at 25 cents / km. He passed on it.
If you own the vehicle and sell privately at market value, hopefully you can move down and have some extra cash. Trading down with a dealer sounds like going backwards for no financial gain.
I see boats being the first to go, not that everyone has a boat to sell. Few people actually need them and while you only use them six months a year, you pay for twelve, even if they're on blocks.
Bikes are similar but cheaper to store. Instead of winterizing do a full mothball and stash it somewhere safe until your personal economy improves. If it's paid for you can skip insurance. Marinas usually demand insurance.
It sounds like a restart with a full load of gas. Go with an expert.
Mad Mike
Well-known member
If you're going to replace it, the tough part is finding an 25K unit. You can get a 50KBTU unit heater for $800-1000 from PA and HD, it's bigger than your original and probably bigger than you need -- in a house that's a problem, in a garage it's not.
https://www.princessauto.com/en/500...r-with-lp-conversion-kit/product/PA0008944951
I went a different route with my garage up north, it cost me a few bucks more but it's been worth it. I installed a cold weather heat pump -- it cost $1400 and was super simple to install. In fact I just bought another for my detached garage at home, it's going to replace a 5KW electric garage heater (which is also a cheap option). 12000 BTU Mini Split Air Conditioner - Heat Pump - SENA/12HF. Nice benefits are AC garage in the summer, and there are no flames in the garage.
Don’t rule out buying a used unit , there are a lot of take outs ect. For sale ,
Buddy who is an HVAC guy bought two three yr old furnaces on Facebook market place ( came out of a McMansion ) getting a do over 3 yrs later . Paid $200 for the pair ,
Sent from my iPhone using GTAMotorcycle.com
Buddy who is an HVAC guy bought two three yr old furnaces on Facebook market place ( came out of a McMansion ) getting a do over 3 yrs later . Paid $200 for the pair ,
Sent from my iPhone using GTAMotorcycle.com
Yay! I thought they usually wait until 10am or so to let people eat breakfast first.
Guess they couldn’t hold their glee in.
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