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Real Estate seems stable but mortgage interests rates are going up. Variable rates are dropping. The reasoning behind many lenders increasing their rate is simply liquidity issue as demand for money is high and supply is low. Also, many businesses and consumers have seen a sharp and unexpected decrease in revenue/income. As such, they are all maximizing their credit cards, lines of credit and more. Imagine a bank had $10 billion in cash on hand last week, but now they only have $2 Billion. This may get worse and the Bank of Canada deployed emergency measures to increase liquidity.

Good news?
Some lenders still have rates at historical lows, including a potential option for 2.00% variable once lenders adjust their prime rate from BoCs 0.50% emergency drop on Friday (March 13). And variable rates are expected to decrease more.
 
Real estate is still hot in Oakville, but financing is getting harder. Money will get tight. A lot of 'capital' providers that source money from insurance companies (which have billions to invest) will feel a noose around the neck (since the billions are invested ALL over the place and just dropped 20-40% of value).
Leaseing companies will take a complete beating as will thier customers . Money for that sector will be really expensive.
And now watch the defaults, Leased kitchen eqt in restaurants, CNC machines in metal fab, construction equipment. Millions of dollars will get handed back. for cents on the dollar.
 
I have stayed strong in my plan not to sell or buy. Wait 2-3 months and see how things are looking from there. I don’t know if it’s the best plan (doesn’t feel like it right now) but I’m sticking to it.

A couple of times in the past week I’ve been pretty upset I didn’t sell everything to pay down my mortgage in December. That was a another plan at one point but I got greedy in the market. Also shouldn’t of renewed my mortgage in December. Ugh.
 
blackcamaro said:
I have stayed strong in my plan not to sell or buy. Wait 2-3 months and see how things are looking from there. I don’t know if it’s the best plan (doesn’t feel like it right now) but I’m sticking to it.

A couple of times in the past week I’ve been pretty upset I didn’t sell everything to pay down my mortgage in December. That was a another plan at one point but I got greedy in the market. Also shouldn’t of renewed my mortgage in December. Ugh.
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Hindsight is always 20/20. Good idea to wait to see where all the debris settles. I don't think there's going to be any sharp correction upwards. I believe you'll have plenty of time picking through the rubble to look for some gems. Though they may look like coal, and it may take a very long time for them to become diamonds as well...
 
I have lost so much money i should be crying but going to wait it out no point in selling when down this much at this point hope none of my holdings go bankrupt before this ends. Best part is my wife warned me of this told me to sell everything early January I told her she was crazy everything would be fine. Looks like one of us was right

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I’m not making any moves right now, but might pick up some stocks on a fire sale. Was planning to 2 weeks ago but my ‘paralysis by analysis’ have delayed that.

my buddy was an investment genius 2 months ago....without telling the wife he took 90k equity out of the house and put it all in the market and surprise her when he made double....I haven’t dared ask him about it.

another bud, last year before retirement, got spooked as the house is his retirement plan. Listed the house in a panic to be sure to sell before the whole thing goes tits up. Not to mention his investments dropping 120k in a week.
 
Worst advice I ever got was from my RBC financial planner that encouraged me to use the equity in my house , secured LOC, and "make my money work for me!!" . It was 2007. He told me to be bold. I gave him a lot , a year later he showed me a package worth 72% . But the bank said that LOC was still at 96%!!! , I couldn't take that bath and just sat and waited and it all came back in 5 yrs.
But my life lesson was banker are not your friend, investment advisors are responsible to their bosses first, and dont gamble with money you cannot afford to loose.
 
Today being a healthy "up" day, to me, is inexplicable in view of what the US is headed for. That can't possibly be all priced in. I pressed the sell button. Taking a hit, but now I know where I stand and I can sleep at night. I'll have capital losses to carry forward come tax time for a long time to come.

I'm hanging onto a little bit of companies that I know will come out the other side of this, and which provide products or services that I know we will need or want.
 
Scuba Steve said:
I have lost so much money i should be crying but going to wait it out no point in selling when down this much at this point hope none of my holdings go bankrupt before this ends. Best part is my wife warned me of this told me to sell everything early January I told her she was crazy everything would be fine. Looks like one of us was right

Sent from my moto g(7) plus using Tapatalk
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Jan I wanted to move my rrsp from aggressive to money market, but never got around to it. This is what procrastination does to you.

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Brian P said:
Today being a healthy "up" day, to me, is inexplicable in view of what the US is headed for. That can't possibly be all priced in. I pressed the sell button. Taking a hit, but now I know where I stand and I can sleep at night. I'll have capital losses to carry forward come tax time for a long time to come.

I'm hanging onto a little bit of companies that I know will come out the other side of this, and which provide products or services that I know we will need or want.
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I know what you mean, having been through down turns before I sold 80% of my holdings at the end of February and it takes away a lot of stress.... The 20% I kept are a very long term gold mining play and Fortis Energy (kept because of the drip I have going).

As noted before, I will likely get back in using leveraged market tracking ETFs to double up the market upside, but I will wait until I am sure it is over. Other option is to dollar cost average on the rest of the way down...I will wait.
 
This is as far as I’m going with respect to opening the statements I plucked from my mailbox this morning1584723185382.jpeg
 
crankcall said:
Worst advice I ever got was from my RBC financial planner that encouraged me to use the equity in my house , secured LOC, and "make my money work for me!!" . It was 2007. He told me to be bold. I gave him a lot , a year later he showed me a package worth 72% . But the bank said that LOC was still at 96%!!! , I couldn't take that bath and just sat and waited and it all came back in 5 yrs.
But my life lesson was banker are not your friend, investment advisors are responsible to their bosses first, and dont gamble with money you cannot afford to loose.
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RRSP mutual funds salespeople at the bank are the worst.

The bank wins every possible way. They're already getting interest from your mortgage. Then they tell you to borrow against your equity so they get interest from your HELOC. Then they tell you to invest in their funds and then take their MER fee from those funds.

They do not have your best interests at all.
 
Well. That rally didn't hold. I'm glad I could press "sell" this morning rather than having to wait until now.
 
Lightcycle said:
RRSP mutual funds salespeople at the bank are the worst.

The bank wins every possible way. They're already getting interest from your mortgage. Then they tell your borrow against your equity so they get interest from your HELOC. Then they tell you to invest in their funds and then take their MER fee from those funds.

They do not have your best interests at all.
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I watched a teller at Scotia swindle a guy a few years ago. His $5000 GIC had matured. I got the feeling that that was likely his life savings (he was probably a blue collar guy ~50 yo). The teller got him to put it in a new 5 year GIC at something like 0.25% (whatever the rate was, it was much lower than a Tangerine account). She went through the song and dance about safe and can't lose your money, etc. It was vomit inducing.
 
Lightcycle said:
Classic dead cat bounce. Many more stairs on the way down.

I know some people who have made a killing from the predictable 5-10% up and down-swings each alternating day.
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If I can wrap up my day job obligations, I may play that game as well.
 
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