https://ca.indeed.com/Veterinary-Ass...2ceb502e24ae55

I'm seeing <$20/hour for veterinary assistants.

As Trump's political and economic policies impact the market, you'll slowly start to see more and more tech companies out of the Bay Area make their way up to Canada (re: Vancouver) to take advantage of the talent pool, the exchange rate, legal fees, benefits, and what have you. This often leads to a lot of cash savings and reduction in operational costs for a business, leading to a healthy balance sheet for investors to drool over.

The limitation of H1-B visas being given to foreign nationals is becoming harder to come by. These companies (particularly start ups) will rock the boat in creating an overinflated market, driving salaries up for Vancouverites, and that will be the new class of people who will buy up our parents homes. A former colleague of mine left Vancouver for the Bay Area a few years ago, and is now back living with his parents because the industry he was working in imploded due to COVID. He did well, but a shame he lost his job due to COVID.

Dude, you have just calculated the effective tax rate for this hypothetical $147k earner. You do realize that the marginal tax rate is not the same as the effective tax rate, right?

Please repeat this after me:

marginal tax rate =\= effective tax rate

FailFish

You are correct.

My bad!

The tech world has been thrown into disarray by Covid. A lot ppl got laid off even in Vancouver. It's been a job seeker's market for awhile now, but my manager said for the first time they have a pool to choose from instead of trying to poach.

I've been a part of hiring efforts before, the amount of shit ppl out there are amazing. Cap that with some recruiters who throw every resume at you with even the remotest chance of being hired, recruitment sucks.

So the tech salary average is definitely thrown off by people who really don't qualify for the work they are doing. Which then also depresses the top end of the market because companies gauge the market by averages. Does not help that one level of government was actively advertising low salaries in tech to companies. That's not how you try to boost your economy, by attracting companies that want to underpay.


We are looking to upsize, but with two largish car payments we can't do it until those are dealt with in a few years.

EDIT: I don't understand why people say they lose money if they make more. At ~100k salary, you still gain a lot by making more, and there's nothing to lose because you already don't qualify for most benefits anyways.

That listing dropped from like $525k > $450k over the span of 3 - 4 months. I wonder if it's actually not selling or they want a bidding war lol.

Do you think it makes sense to just buy the newer unit if you think you'll upgrade in like 5 - 7 years?

How large is this car payment, and what is the term? Two large'ish car payments are going to hamper your ability in saving to upsize. We all cant' always be rollin' in a Tesla or Integra Type R modded to the tits if we want to climb that housing ladder.

It's possible, yes. If it's been on the market for a financial quarter, chances are, they want to generate interest and sell to the highest bidder, conditions or not. If you do the math, that's a price drop of about 17%, which is unlikely and unrealistic. At $525K, it's possible that the asking/listed price was higher than the market benchmark.

Yes. I'm at the pivot point where I want to upsize because:

1. My area has more or less peaked in terms of appreciation (My building is 4 years old, and I'm the original owner of the unit)

2. I would say if you crunch the numbers, I've made a pretty penny on my unit, and the price point meets the requirements of most, if not, all first-time home buyers. They would be my target market and demographic when I put it on the market.

Now to find a place with a 2-car garage. #broke :suspicious: :fuckthatshit:

Depends how you plan to upgrade, if you plan to rent it out and take out the equity on that first apartment, or if you plan to sell it entirely and get another place. Location is everything though. The apartments by kwantlen are cheap 350-450k older units but they rent for good money- something like 2 bedroom for 2g.

Unit 506 8988 sold for 480k back in Oct,
unit 1510 8988 sold for 445K Feb, so them asking 450k isnt too far off.
As for the bidding war issue, you'll have to do your research when it comes time to buy in order to learn what the market value is for different units. After awhile you'll gain a good understanding of what type of unit goes for what price, and anytime something looked too good to be true- it was always because they wanted a bidding war or they wanted to generate traffic. And if it was legit just being sold for less, they usually got scooped up fast. So you have to be ready to go in view it asap and throw down an offer.

Sign up at Zealty.ca if you haven't already, lots of good info that you can use to your advantage.

You have to factor in capital gains. That shit is a bitch.

Crunch the numbers on the costs of moving and see?

:whistle: 2018M3and2019X3 :pokerface:

Together they are about 2k a month for payments.

I just dropped cash burning a hole in my bank account on to the mortgage today if that helps. If I didn't I would probably have bought mods :lol

We've paid off about 1/3 of our 320k mortgage since we bought our place 4 years ago. Being a car enthusiast doesn't help my finances.

Damn, son. Are you one of those $250K+ household income people? :lol

Cars are an expensive hobby. This is why we all can't afford a place. :alone:

We are close, we are ~200k when we are both working. Wife is on mat-leave right now though.

If it wasn't for being a car enthusiast, I'd say our mortgage would be about half paid off now instead of 1/3.

Yes the earlier you pre pay the more it goes towards your principal. What I'm getting at is at these levels of interest rates, the opportunity cost to take your money to invest in something else is a lot more favourable.

Can you still get a 30 year mortgage in Canada? If so what’s involved?

Yes and the nothing different from RBC.

Yes but it requires >20% down payment

I don't know where you guys are getting this information from but no one comes into Deloitte as a new grad making $82K let alone $100K unless you're talking post-MBA. I work in their STRATEGY consulting group which is paid higher than technology consulting and MBAs with experience generally come in at around 85-90k as Senior Consultants. This is what I see in Toronto. The numbers will be lower for Vancouver as well.

People probably come in getting 65k a year, lie to friends and family saying they are getting 85 a year then get on dat 3 series lease ASAP

Lol, this one boggles my mind and I see it quite often. Just because someone will give you credit doesn't mean it's a smart decision, this actually translates to real estate as well.

I mean I shouldn't throw stones I bought a new truck a few years ago which is honestly a dumb purchase and a waste of money but at least I saved up for a few years and paid cashed. It still doesn't make it a good decision but I have friends who don't even look at the cost of borrowing money as long as they can make the monthly payment they figure it's in their budget.....

^this is why car financing goes up to 84 months now

Some companies offer up to 96 months. :pokerface:

96 months on dat new Z06

I’ll preface this by saying I have been very fortunate in my life situation in many ways, however, looking back now at friends and acquaintances (and even myself to some degree) early out of high school and into their mid to late 20’s and even early 30’s man, what an absolute mistake it was to think it was a good idea to spend money on cars, clothes, ‘da club’ gambling, etc in order to look cool or keep up some sort of social status.

You know what’s cool? Driving some car within your means and sitting on your couch not stressing the fuck out about payments and bills lol..

So a friend who's in the mortgage business told me that Vancity deferred mortgage payments on 7000+ properties. According to him, around 60% have told Vancity they can pay interest only payments next month whilst the remaining 40% can't. The amount of deferrals is a huge number considering the size of Vancity.

He also said the bigger banks have even higher deferrals and predicts lending will get even tougher in the months to come. He was also telling the amount of debt some people are carrying is insane and there's no way he can even get banks to remortgage clients because the ratios are so bad and banks are now factoring in declines in RE even though publicly they keep claiming everything is fine. He's expecting for the first time in a long that we'll start to see foreclosures in the coming months.