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Quote:

Originally Posted by The Producer (Post 9100257)

did you forget to eat your wheaties this morning? you're on quite the roll today

He's just mad that he can't afford a BMW M car.

Quote:

Originally Posted by Eff-1 (Post 9100185)

All you guys who are so quick to call people "lazy" and "poor" are living in your own bubble with no awareness on how life might be for a lot of other people.

Not everyone can just snap fingers, work hard, and live the life they want.

Lots of people aren't born with parents who can pay tuition for them and house/feed them for as long as you want.

Lots of people have physical or mental disabilities that prevent them from taking on different jobs.

In short, not everyone is dealt the same hand when it comes to life circumstances as you are.

So they end up living on less income because they don't have any choice. Luckily for the earlier generations, they could find co-op housing (which the gov't built a lot of in the 70s/80s and then stopped building in the 90s, which was totally stupid decision). People today with the same circumstances aren't so lucky.

And now they become seniors. On a fixed income. Living on $30k per year, or less.

What would you do if you were in the situation? Just go work harder? Stop being lazy?

Don't get me wrong, given the circumstances, in hindsight of course they made an unfortunate decision to vote down the earlier proposals.

But I don't think for a second that everyone here, if they were in their 70s, living on the same income in the same situation, wouldn't have done the same so you can keep the rent down and still be able to buy groceries/transit pass, medicines, etc etc.

It's a sad situation all around. I feel bad for them.

And the people who point fingers at others calling them lazy and poor without knowing those people's specific life circumstances are part of why our housing situation and income gaps are completely messed up and gets worse each year.

A few years back, Mrs and I were at a Dollarama picking up a couple things and I commented that one of the items she showed me was too expensive. Another couple in the vicinity overheard and I don't recall the dude's exact response, but he was pretty much mocking me for not being able to afford the item and said it loud enough so that I, and others around us could hear. It wasn't even that I couldn't afford it, it was that I couldn't justify $7.99 or w/e on a one-time use throwaway item. We're not struggling by any means but I always think back about this incident and how useless comments like that from ignorant people can really be triggering for others who are having a hard time.

Quote:

Originally Posted by jing (Post 9100272)

It wasn't even that I couldn't afford it, it was that I couldn't justify $7.99 or w/e on a one-time use throwaway item.

Why are you in a Dollarama if you're not looking for a throwaway item. :lol

sounds like a chinese drama sitcom, the passive aggressive say it loud for all to hear but not directly at someone

Quote:

Originally Posted by Spoon (Post 9100275)

Why are you in a Dollarama if you're not looking for a throwaway item. :lol

Because not everyone can afford to shop at Whole Foods

Don't all of you guys shop at Whole Foods? :seriously:

You guys do your own shopping?

What's food shopping? My chef prepares all my meals I assume he is going from his own farm to my table

My office is down the street from the food bank and on my way out there was a line that was at least a couple feet long full of people waiting in line. Many of them were elderly Chinese - while there are rumblings that some of them don't need the help I fully believe that the vast majority of them need help.

Being poor fucking sucks and, more and more, we make it harder for people to not be poor.

https://www.cbc.ca/news/canada/briti...ties-1.6860547

Quote:

The provincial government has set its inaugural list of municipalities where it will be taking a more aggressive step in setting higher housing targets for city halls — and threatening action if they don't comply.

"Municipalities are our critical partners in addressing the housing crisis and building healthy, economically viable
communities," said Minister of Housing Ravi Kahlon, announcing the list.

"In the coming weeks, municipalities will meet with staff to finalize what targets will look like."

The communities named by the government are:

Vancouver
West Vancouver
Port Moody
District of North Vancouver
Delta
Abbotsford
Victoria
Saanich
Oak Bay
Kamloops

Quote:

Originally Posted by supafamous (Post 9100291)

I have no sympathy for people who have a home paid off and won’t pull equity out of it in order to survive. Those people should not be at the food bank. And I almost guarantee these are the types of people you are seeing.

There is a huge difference between being cheap/ignorant and being legitimately poor.

^^ well they make like $12000 a year from the gov, so it's not like they will get approved for anything anyways. And obviously Asians won't chip reverse mortgage cuz they gotta save that house for the kids

The kids can pay the 150k line of credit they pulled out to live among their junk for a few more years. Disgusting cultural Norms perpetuating the housing crisis frankly.

Quote:

Originally Posted by bcrdukes (Post 9100288)

Don't all of you guys shop at Whole Foods? :seriously:

I live in Surrey, do we even have a whole foods? I don't think I've ever seen one outside of the US mind you I seldom go west of the fraser river.

Bunch in van, one in Brentwood, surprised there isn't one in SurDel

Quote:

Originally Posted by JDMDreams (Post 9100298)

If their house is paid off they will get at least 40% loan to value for a HELOC with no income at all. That's an easy bet for any lender.

^^ tell me which magic lender this is, as far as I know no one lends on equity any more unless it's some private loan shark lender. If this was true everyone can just take out money and drive up property prices even more.

Quote:

Originally Posted by JDMDreams (Post 9100317)

:suspicious::suspicious::suspicious:

RBC says otherwise, every time I make a payment on my property, roughly 50% of that is added to my max HELOC amount every month.

Now multiply that by each property you have

They LOVE it when you take out more loans

This applies to almost every large bank. With that said, I'm sure it's a bit different when you don't work, don't have tenants, and have a paid off property

Quote:

Originally Posted by donk. (Post 9100320)

:suspicious::suspicious::suspicious:

RBC says otherwise, every time I make a payment on my property, roughly 50% of that is added to my max HELOC amount every month.

Same here... HSBC increases my HELOC with each mortgage payment.

I’m doing this right now. Up to 65% of the value of the home (to a max of 1.5m). But it is basically income based, with other equity helping out a little bit. BMO. From what they told me, only a one or two small reverse type mortgage lenders are equity based.

Quote:

Originally Posted by JDMDreams (Post 9100317)

Literally any bank/credit union?

Quote:

Originally Posted by Qmx323 (Post 9100307)

Bunch in van, one in Brentwood, surprised there isn't one in SurDel

only area in surrey i could really imagine one would be south surrey near white rock

Ya so it's all cuz you guys qualified with real income, try applying for a new one if you're on gov cpp oas

Quote:

Originally Posted by JDMDreams (Post 9100334)

Ya so it's all cuz you guys qualified with real income, try applying for a new one if you're on gov cpp oas

That's what I was going to say.

You probably still need some sort of actual income in order to get a NEW loan.

However, those ALPINE credit or whatever commercials have been getting to me: "Own your own home? You're approved". I'm sure they probably charge a much higher interest rates and/or fees though.

Meh you got 2 million dollars without lifting a finger. Deal with the interest or have your kids do it. I'd be happy to pay the interest on my mom not going to the food bank when she's leaving me a free house. Not going to cry over only getting a free million instead of 1.2.