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06-17-2022, 03:26 PM
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#22726 | | I *heart* Revscene.net very Muchie
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I never said there's no inflation for land lord. That's why I said gross $90k. I mean gerbs can sell his place and rent but not pay rent till he gets evicted, and live for free ??? Profit all of his paycheck can go into stonks   | 
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06-18-2022, 09:10 AM
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#22727 | | Rs has made me the man i am today!
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Originally Posted by Gerbs  ) Total cost to own: $2,895 @ 3.2% Variable - $3,295 @ 4.75% Fixed - $2,501 @ 1.49% Covid Dip 
^
Can someone provide a better analysis how sonick could be correct about buying is better in the current climate? | When I do my analysis I break out the principal and interest portions of my mortgage payments. Interest is a cost but principal is not, I'm putting that back into my own pocket
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06-18-2022, 09:41 AM
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#22728 | | RS.net, helping ugly ppl have sex since 2001
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Yeah the big thing that was missing is the principle you are paying in the mortgage payment is not a cost at all, it is entirely going back into your own equity PLUS the appreciation on it over time. Which then you can take as value into buying your next home.
Rent payments are 100% cost, you have nothing to show for it at the end.
The 4444 scenario was counting on the housing market completely crashing and erasing equity while the stock market continue to climb. Housing prices are indeed going down these days so as mentioned the gap between buying and renting is less vs recent years, however the stock market is also in a decline.
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06-18-2022, 01:21 PM
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#22729 | | RS.net, helping ugly ppl have sex since 2001
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^ My housing bubble buddy (two extremely high salary family who rent), is highly invested in funds which go up during a recession/crash. He been riding huge waves the last 10 years waiting for his perfect scenario… maybe he will buy one day… one day. His stocks are doing extremely well right now.
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06-19-2022, 09:52 PM
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#22730 | | My homepage has been set to RS
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Originally Posted by hud 91gt ^ My housing bubble buddy (two extremely high salary family who rent), is highly invested in funds which go up during a recession/crash. He been riding huge waves the last 10 years waiting for his perfect scenario… maybe he will buy one day… one day. His stocks are doing extremely well right now. | You really gonna not tell us his positions bro? Come on!!!
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06-20-2022, 05:10 AM
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#22731 | | I subscribe to the Fight Club ONLY
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Lots of these high end houses in Richmond (3m+) seem to be slowing down quite a bit. But I doubt they’ll drop down to 2.5 or something… even with the recession coming I don’t think it’ll crash like that.
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06-20-2022, 08:53 AM
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#22732 | | RS has made me the bitter person i am today!
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Yeah, I feel like people won't sell at a loss unless they have to. I don't think anyone will have issues with renewals until 2027 and beyond. Seems like everyone locked it in cheap.
All the new builds were built 2016 - 2021, so they got to lock in a renewal or new before the hikes.
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06-20-2022, 10:38 AM
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#22733 | | Need my Daily Fix of RS
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So in this market with a downturn and rising rates, would you invest your cash and try to snag something cheap or pay down your mortgage and free up some breathing room.
Is cash still king since credit is harder to get? Or Is cash is trash due to inflation?
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06-20-2022, 10:44 AM
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#22734 | | Performance Moderator
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#notafinancialadvisor but I don’t think paying down the mortgage makes sense unless the rate is higher than what you’re able to return with your money. Where that cutoff point is, is different for everyone… it’s close right now. 4.5-5% is on the upper end of what you can expect to return from mildly aggressive investment I think.
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06-20-2022, 10:57 AM
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#22735 | | My homepage has been set to RS
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| https://www.bnnbloomberg.ca/inflatio...1983-1.1780489 Quote: |
Wednesday’s report will incorporate used car prices for the first time, and will give more weight to gasoline in the basket of goods and services, under a methodological change announced earlier this week. Annual price gains hit a three-decade high of 6.8 per cent in April.
| Interesting. Why now? You exclude it in the 80's, maybe to reduce worker wage increase demands?
But now is a good time to include it lol? Good I guess? It'd help in wage/inflation demands. Just don't get the BOC thinking right now.
Fuel to justify rate increases? Maybe we are in a recession already, and they just don't want to tell us
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06-20-2022, 11:28 AM
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#22736 | | I have named my kids VIC and VLS
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So was up in penticton for the last 4 days doing wine touring and eating/drinking
Man, I dunno if it’s because the weather or just the general financial situation of younger people but it was almost nothing but white hairs everywhere lol. Ecen at the wine village in OK falls there the average age was probably 70+ lol.. everywhere we went it was nothing but elderly which has never been the case once in the last 5-6 years coming here
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06-20-2022, 11:36 AM
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#22737 | | I *heart* Revscene.net very Muchie
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Ain't nobody got gas money to drive to wine country. I'll take Walmart cheap liquor and gas down in the States. But the exchange rate doe 
I think if you can still get a heloc, get it asap, everyone is already getting approved at way over stress test rate of 5.25% so lending is only gonna get harder, recession, drop in wages? Fired? Rate hikes, and drop in assessed value. So you might want to lock in a house assessment now before the markets crash a lot. This way you have cash available incase anything happens. Type Rs go on repo sales.
Also money is still available if you pay down your heloc Vs mortgage.  | |
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06-20-2022, 11:55 AM
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#22738 | | linguistic ninja
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Originally Posted by Hondaracer So was up in penticton for the last 4 days doing wine touring and eating/drinking
Man, I dunno if it’s because the weather or just the general financial situation of younger people but it was almost nothing but white hairs everywhere lol. Ecen at the wine village in OK falls there the average age was probably 70+ lol.. everywhere we went it was nothing but elderly which has never been the case once in the last 5-6 years coming here | Yeah was out at Mackenzie Room on Saturday and we felt like the youngest people there (we're almost 40).
For those of you that don't know it's a hipster restaurant smack down in front of Oppenheimer Park. I guess many Boomers aren't afraid of teh CrImE!?
disposable income > All. Boomers are YOLO-ing your inheritance trying to wither down that "massive transfer of wealth" that's going to happen any day now. Right? RIGHT???
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06-20-2022, 11:59 AM
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#22739 | | RS has made me the bitter person i am today!
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Originally Posted by 68style #notafinancialadvisor but I don’t think paying down the mortgage makes sense unless the rate is higher than what you’re able to return with your money. Where that cutoff point is, is different for everyone… it’s close right now. 4.5-5% is on the upper end of what you can expect to return from mildly aggressive investment I think. | I'm paying down my mortgage as fast as possible. Dont want to put any more money into stocks for the time being, dont believe that market has hit it's bottom yet. There's no where to get a good return from right now, therefore everything onto the mortgage to save as much on interest there.
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06-20-2022, 12:38 PM
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#22740 | | I *heart* Revscene.net very Muchie
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Obviously the market has not bottomed out, as long as they keep raising rates it has not bottomed.
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06-20-2022, 01:21 PM
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#22741 | | Willing to sell body for a few minutes on RS
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I can’t believe how fast it’s hit people. We’ve made some adjustments to spending but they are more due to caution than actually being stressed. Like I said before, the retirement fund is the first to take the hit. Still have to live and enjoy ourselves but many others aren’t so lucky I suppose. Going to be yet another rough couple years. Being an adult sucks lol.
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98 technoviolet M3/2/5 Quote:
Originally Posted by boostfever Westopher is correct. | Quote:
Originally Posted by fsy82 seems like you got a dick up your ass well..get that checked | Quote:
Originally Posted by punkwax Well.. I’d hate to be the first to say it, but Westopher is correct. | | |
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06-20-2022, 01:39 PM
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#22742 | | I *heart* Revscene.net very Muchie
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I was wondering what it was going to take in this city that always seemed to have endless cash. Apparently gas at $2.20 and raising interest rates was it.
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06-20-2022, 02:02 PM
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#22743 | | My homepage has been set to RS
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Originally Posted by G0rilla So in this market with a downturn and rising rates, would you invest your cash and try to snag something cheap or pay down your mortgage and free up some breathing room.
Is cash still king since credit is harder to get? Or Is cash is trash due to inflation? | I think cash flow is KING! If you have stable cash flow, then you're always good.
The older you get, the harder it is to go risk on. If you're 45+ I would probably pay down the house. If you're under 40, I would be in the market.
I feel like 45 is the cut off from being risk on to risk off. My thinking is if you're 45 and have nothing, you have 20-25 years to build a decent portfolio for retirement.
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06-20-2022, 03:18 PM
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#22744 | | I contribute to threads in the offtopic forum
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Gotta say, I get a kick out of the descriptions of units for sale in the DTES (all right in the core of the DTES on Hastings) https://www.rew.ca/properties/401216...erty_click=map Quote: |
Wow! Finally a FREEHOLD opportunity that ticks all the boxes for first-time home-buyers & savvy investors! Central location, excellent returns & still under HOME WARRANTY! Highly sought-after plan w/ NO WASTED SPACE. Bright & spacious 'through unit' w/ OVER-HEIGHT CEILINGS. OVER $10K IN OWNER UPGRADES, custom Murphy Bed, storage & updated washer/dryer. Linear kitchen w/ modern cabinetry & stone counters. Architecturally-stunning courtyard w/ communal terrace, garden plots & glass elevator. Proactive strata. Centrally-located in VIBRANT CHINATOWN/GASTOWN & situated perfectly for the city's highly anticipated Northeast False Creek Plan. INCREDIBLE OPPORTUNITY! Steps to SFU, VFS, Skytrain & the best restaurants & bars. WALK SCORE 98! PETS & RENTALS OK!
| https://www.rew.ca/properties/412405...erty_click=map Quote: |
Welcome to Sequel at 138 E Hastings, this wonderful one bedroom apartment situated in the heart of the Downtown East Side comes equipped with a full kitchen, ventless washer dryer combo, and a surprisingly spacious bedroom and living room. Unit 509 faces north and boasts wonderful views of the North Shore mountains. You wont expect this!! With amenities like a rooftop community garden, bike room, and an open courtyard interior... this is what affordability looks like in Vancouver. The unit comes with a rare storage locker included in the purchase. Parking is available to rent in the building. Please call your agent for your private showing today!
| https://www.rew.ca/properties/407092...erty_click=map Quote: |
Stunning 1 bed & 1 bath in this PH unit w views of Science World at the Sequel 138 building in Vancouver, offering 442 sq ft of living space with 9 foot ceiling. Located close by vibrant Chinatown, Crosstown, Tinseltown, SFU campus, Strathcona, Gas town & many restaurants. Long windows are letting light peek throughout the unit. Sleek high gloss cabinetry which is nice and high utilizing all the space in this unit, laminate flooring, fridge, microwave, in-suite laundry and stove. Includes 1 secure underground parking, rentals, and pets are allowed. Amenities include a common courtyard equipped with a BBQ, picnic tables, a lovely community garden & a fire pit right outside your door. Perfect for investors or first-time home buyers, book your private showing today!
| https://www.rew.ca/properties/411100...erty_click=map Quote: |
Location, location, location! This affordable 1 bdrm home is walking distance to DT, Gastown, Chinatown, Strathcona and Tinseltown. Very convenient. Enjoy the downtown life in your new home with features like; integrated stainless steel blomberg, fridge, washer/dryer, stove & microwave hood/fan combo, high gloss 9 feet of European style cabinetry and modern laminate floors. Ceiling height is 9 feet. You will also find, on the 2nd floor, a courtyard with a harvest table, BBQ and an urban garden where you can rent a plot and do your gardening, grow vegetables, etc. This is a unique home, don't miss out! For appointment and further information call or email Listing Agent.
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06-20-2022, 03:27 PM
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#22745 | | RS has made me the bitter person i am today!
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Originally Posted by MarkyMark I was wondering what it was going to take in this city that always seemed to have endless cash. Apparently gas at $2.20 and raising interest rates was it. | Nothing has happened yet, I still have showings every week so I guess we still have endless cash. About to insure the summer car , if it stops raining.
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2005 S2000
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06-20-2022, 03:29 PM
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#22746 | | RS has made me the bitter person i am today!
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People out in the suburbs are still driving around with their pick-up trucks and SUVs as if gas were $1.00/L.
My kids and wife took me out for brunch this weekend to a new restaurant in the Tri-Cities. My wife had to make reservations several weeks ago as they've been fully booked for several weeks. We were one of the oldest millennial families there - I saw several millennial families with Uppa Baby strollers, coiffed hair, and designer clothing. Younger people seem to have no problem dropping $100 on brunch in the suburbs (our bill came to $80+ with no alcohol).
Young people are still spending their money - I guess just not in Vancouver or at wineries (wine sales are declining relative to low-calorie beverages).
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06-20-2022, 03:40 PM
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#22747 | | Willing to sell body for a few minutes on RS
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Originally Posted by supafamous | You know what would be a funny meme/satire page is "honest realtor"
"Come home to your opiate oasis on 138 Hastings! Close to safe injection sites, crime, and streets covered in human feces. Fall asleep to the sweet siren song of.....SIRENS. Enjoy the safety of your triple gated compound while being in the exciting centre of the drug induced zombie apocalypse thanks to our crumbling mental health system! Call now for your showing, offered with armed chaperone in case of random machete attack!"
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98 technoviolet M3/2/5 Quote:
Originally Posted by boostfever Westopher is correct. | Quote:
Originally Posted by fsy82 seems like you got a dick up your ass well..get that checked | Quote:
Originally Posted by punkwax Well.. I’d hate to be the first to say it, but Westopher is correct. | | |
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06-20-2022, 04:15 PM
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#22748 | | y'all better put some respeck on my name
Join Date: Dec 2002 Location: Vancouver
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Originally Posted by Badhobz Lots of these high end houses in Richmond (3m+) seem to be slowing down quite a bit. But I doubt they’ll drop down to 2.5 or something… even with the recession coming I don’t think it’ll crash like that. | There's some homes that sold for over $3m+ in 2016 and sold for below $3m in 2019 so prices can dip below $3m as rates trend up.
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06-20-2022, 04:18 PM
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#22749 | | y'all better put some respeck on my name
Join Date: Dec 2002 Location: Vancouver
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Originally Posted by Hondaracer So was up in penticton for the last 4 days doing wine touring and eating/drinking
Man, I dunno if it’s because the weather or just the general financial situation of younger people but it was almost nothing but white hairs everywhere lol. Ecen at the wine village in OK falls there the average age was probably 70+ lol.. everywhere we went it was nothing but elderly which has never been the case once in the last 5-6 years coming here | Penticton isn't cool enough for the IG/TikTok flex.
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06-20-2022, 05:02 PM
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#22750 | | I have named my kids VIC and VLS
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Perfectly fine by me lol.. there are some hidden gems there that are best to not be discovered 
Every time I go up there I feel like I should move there
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