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Thread: Trudeau has to go?

  1. #761
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    Quote Originally Posted by JRSC00LUDE View Post
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    So when should everyone lock into the longest term they can?

    Or do you just pool as much money as you can elsewhere, and wait for house prices to be worth nothing and walk away from it at renewal?

    Where's the smart money? Essentially either houses will be worthless or our currency will be, so where do you hedge your bet?
    I'll be renewing in November. Just hoping the rates stay low until then and I'll be locking in for at least 5. Maybe now is the time to sell and rent until people walk away.

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    Quote Originally Posted by suntan View Post
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    Most people will just walk away, credit be damned.

    Locked in terms will be pointless. The bank will call in your loan.
    You honestly think we're headed to a situation where banks will call everyone's mortgage regardless whether they're paying or not? Explain your reasoning?
    Originally posted by SJW
    Once again another useless post by JRSCOOLDUDE.
    Originally posted by snowcat
    Don't let the e-thugs and faggots get to you when they quote your posts and write stupid shit.

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    Quote Originally Posted by tirebob View Post
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    Back in the early 80's I remember my parents were paying off property mortgages at like 21%! We ate cheap as fuck, mom would make powdered milk and wore clothes we were outgrowing for a while, but still made it through... lol! I don't know if people could honestly handle that today though. Different times for sure.
    I remember the days like that as well.. Learning not to ask for anything, and just being damned grateful when there was some extra money to actually get something...I knew the money was tight, but as a kid you really don't know the entire picture, my parents put on a brave face for us back then.
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    Quote Originally Posted by davidI View Post
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    Convince the SW of BC and I'm in.
    I work with a bunch of people from Van and The Island, doing the same profession. When I mentioned the layoffs and economic recession in Alberta for the last few years, people either had no idea or subtly smerked. Others blindly think they can just "join the oil patch for a few years and make bank" as if it's a matter of making a phone call. I know more people now on the mining side out east and they're pretty clueless on the state of Alberta as well.

    Fire our the provincial marketing team because they fucking suck. The rest of Canada either doesn't care because fuck Albertans, or they don't understand what will happen if Alberta fails. That's not to say that Alberta doesn't have its own issues. Hell even before Notely was even in office we were told we have a huge spending problem and just praying for another boom cycle to "fix" things.

    Regarding Trudeau, the SNC/JWR case is still the biggest piece of blatant cronyism I have personally seen on Canada.

    The real question is where do you move to in the world to improve while keeping the scenery. NZ would be great but I'm not baller enough.
    Last edited by msommers; 02-20-2021 at 12:46 AM.
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    Quote Originally Posted by msommers View Post
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    The real question is where do you move to in the world to improve while keeping the scenery. NZ would be great but I'm not baller enough.
    Tasmania. Home of the ancient Antarctic rain forests.

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    Quote Originally Posted by msommers View Post
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    Fire our the provincial marketing team because they fucking suck. The rest of Canada either doesn't care because fuck Albertans, or they don't understand what will happen if Alberta fails.
    We need some sort of centre, that promotes Canadian energy. That should do the trick.

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    Quote Originally Posted by Tik-Tok View Post
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    We need some sort of centre, that promotes Canadian energy. That should do the trick.
    hang on, you might be onto something.
    Silly people focus on the math.

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    Quote Originally Posted by msommers View Post
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    The real question is where do you move to in the world to improve while keeping the scenery. NZ would be great but I'm not baller enough.
    If I was still a single remote worker I'd be looking strongly into Bulgaria or Georgia. Sure, there's some corruption and bureaucracy in the few administrative chores that would be required but, in general, taxes and cost of living are low and freedom remains high.

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    Quote Originally Posted by davidI View Post
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    If I was still a single remote worker I'd be looking strongly into Bulgaria or Georgia.
    Being born and still having family living in eastern europe, I would avoid it like the plague.

    Switzerland? They have jets, guns, mountains and decent professional hockey.

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    Quote Originally Posted by JRSC00LUDE View Post
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    So when should everyone lock into the longest term they can?

    Or do you just pool as much money as you can elsewhere, and wait for house prices to be worth nothing and walk away from it at renewal?

    Where's the smart money? Essentially either houses will be worthless or our currency will be, so where do you hedge your bet?
    I'm just selling mine and taking the equity while it's still there. I might buy when foreclosures go through the roof and market crashes again like when daddy Trudeau was in charge.


    Quote Originally Posted by FunWheelDrive View Post
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    Or BTC.. but 70k CND BTC is damn pricey.

    Still a lot cheaper to get it now then when it's 200k at the end of the year.


    Quote Originally Posted by tirebob View Post
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    Back in the early 80's I remember my parents were paying off property mortgages at like 21%! We ate cheap as fuck, mom would make powdered milk and wore clothes we were outgrowing for a while, but still made it through... lol! I don't know if people could honestly handle that today though. Different times for sure.
    People with good paying jobs made it through. But lots of people were still walking away from mortgages in droves. And that was when your mortgage was 1-2 years salary, not 6-8 years. Things would be very bad this time around, they've been propping up this bubble way too long.


    Quote Originally Posted by msommers View Post
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    The real question is where do you move to in the world to improve while keeping the scenery. NZ would be great but I'm not baller enough.

    I've been waiting on a gig in Bahrain since September. But Covid has been screwing things up royally(well governments response to covid, not covid itself. But I digress). No taxes, no winter, and pretty much everything is ocean front. It's basically everything I want out of life.

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    Quote Originally Posted by Misterman View Post
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    People with good paying jobs made it through. But lots of people were still walking away from mortgages in droves. And that was when your mortgage was 1-2 years salary, not 6-8 years. Things would be very bad this time around, they've been propping up this bubble way too long.
    I obviously can't speak for all people then, but in my parents case, this was absolutely not the case. They were making very little money having just started a small auto repair business not too long before that and were paying for a mortgage on the building with a tiny falling down house behind it that we lived in. At this point in life they were probably making 10k to 12k a year paying a mortgage off that was over 60k so no, not a lot different than today assuming 100k-120k/year and a 600k mortgage.

    They were just people that would do whatever it took not to default on their business and their dreams even if that meant drinking powdered milk and eating whatever was the least expensive food they could buy that would put some calories in our bellies. Shit, a treat was bread and butter with a little sugar sprinkled on it. My mom would repair our clothes, add a bit of fabric to make pant legs and sleeves longer. Dad would put rubber goo on the soles of our shoes when there was holes. Lots of kids had crazy carpets for sledding down the hill and winter clothes but we had green garbage bags and socks on our hands for mittens and by no means were we alone.

    Sounds like a Charles Dickens novel but it was just normal life and we did it. Things turned around and life improved. One thing I can say I learned from my parents that many people have no idea about today is how to truly make personal sacrifices to honour commitments.
    Bob Blakeborough

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    my parents had a 25 year $25K mortgage and they took the entire 25 years to pay it off. Was a big day when they got that done.
    Silly people focus on the math.

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    Quote Originally Posted by ExtraSlow View Post
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    my parents had a 25 year $25K mortgage and they took the entire 25 years to pay it off. Was a big day when they got that done.
    I don't know the specifics of what my parents put for downpayment? But their house was 80k, when my Dad was making 80-100k/yr. Still broke as shit though because of having 6 kids and my mom making a lot of bad financial decisions that he never argued with her about. So my Dad never paid his off.

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    $100k/yr in the 1980s was serious bank.
    Silly people focus on the math.

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    Quote Originally Posted by ExtraSlow View Post
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    $100k/yr in the 1980s was serious bank.
    Yeah Fort Mac used to be a real money maker.

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    Quote Originally Posted by JRSC00LUDE View Post
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    You honestly think we're headed to a situation where banks will call everyone's mortgage regardless whether they're paying or not? Explain your reasoning?
    Do you really think banks can hold onto your 2% mortgage when they're paying the central bank 21%?

    - - - Updated - - -

    Quote Originally Posted by tirebob View Post
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    I obviously can't speak for all people then, but in my parents case, this was absolutely not the case. They were making very little money having just started a small auto repair business not too long before that and were paying for a mortgage on the building with a tiny falling down house behind it that we lived in. At this point in life they were probably making 10k to 12k a year paying a mortgage off that was over 60k so no, not a lot different than today assuming 100k-120k/year and a 600k mortgage.

    They were just people that would do whatever it took not to default on their business and their dreams even if that meant drinking powdered milk and eating whatever was the least expensive food they could buy that would put some calories in our bellies. Shit, a treat was bread and butter with a little sugar sprinkled on it. My mom would repair our clothes, add a bit of fabric to make pant legs and sleeves longer. Dad would put rubber goo on the soles of our shoes when there was holes. Lots of kids had crazy carpets for sledding down the hill and winter clothes but we had green garbage bags and socks on our hands for mittens and by no means were we alone.

    Sounds like a Charles Dickens novel but it was just normal life and we did it. Things turned around and life improved. One thing I can say I learned from my parents that many people have no idea about today is how to truly make personal sacrifices to honour commitments.
    My dad made $48k/yr at Amoco as a senior petroleum engineer back then. That was a very good salary. Mortgage was at 18%. The Canadian gov't actually had a interest relief program back then - knocked off about 5% if you had fairly good credit.
    Last edited by suntan; 02-21-2021 at 04:09 PM.

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    Quote Originally Posted by suntan View Post
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    Do you really think banks can hold onto your 2% mortgage when they're paying the central bank 21%?
    In that scenario we would have much bigger concerns...

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    Quote Originally Posted by Buster View Post
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    In that scenario we would have much bigger concerns...
    Well that's what happens when the government drastically increases M0 without a care in the world.

    All the lessons learned about inflation back the 70s and 80s have been totally forgotten.

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    Don’t give people credit by assuming things like “they have forgotten”

    The real problem is that They Don’t Care
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
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    fact.

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    Quote Originally Posted by suntan View Post
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    All the lessons learned about inflation back the 70s and 80s have been totally forgotten.
    I don't believe that for a second. This current monetary situation is being done for a reason. The reason is either a purposeful one for nefarious reasons, or it's just to get them through this hard time and leave the next guy with a sack of shit because it won't be their problem once they're out of office.

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