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Thread: Variable mortgage regret?

  1. #101
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    Quote Originally Posted by ExtraSlow View Post
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    I don't try to time the housing market, and I don't invest in the housing market.

    I did get wickedly lucky with timing of a big upgrade back in the global financial crisis. I was going from a cheap starter home and could afford a slightly nicer "move-up" house because of the market conditions. That move was based on a change in family size thought, not any kind of smarts on my part. Also haven't moved out of that "move up" house in the 14 years since then. Maybe move in the next decade or so, we'll see.
    I remember this

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    Quote Originally Posted by vengie View Post
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    Its not the people with $1mm mortgages that I care about.
    Its the lower income, hard working people getting slaughtered by poor policy.

    It hits close to home. I grew up lower income and watched my parents claw their way to prosperity.
    They have some wild stories of how they were dollars away from not being able to put food on the table growing up. Its humbling.
    Yes sir

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    Quote Originally Posted by suntan View Post
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    I was very brave, I stayed inside my house for weeks on end and wore masks even over my eyes.
    My hero
    Originally posted by rage2
    Shit, there's only 49 users here, I doubt we'll even break 100
    I am user #49

  2. #102
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    Beyond is basically my daily journal.

  3. #103
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    Can totally relate to growing up poor. There were a few lean years in my childhood too. I think it's good for kids to understand a little about the value of money and the process of price comparison. Made my kid put back a $12 bottle of body wash this week and let them pick a 2 for $6 one instead.

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    Quote Originally Posted by max_boost View Post
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    Were you guys brave during the covid crash. I wanna be brave too but I get scared when the crash actually happens lol
    Quite brave. I started looking 2 months into Covid as I was expecting a moderate level of blood in the street. There was, we ending up buying a property for an excellent price. Where we fell down is not getting the build of our home started soon enough, so it's somewhat balanced out, maybe not perfectly in our favour. I cannot imagine going and buying a lot at current market prices and paying the build costs on top.

    We did variable on the build. I am a little stressed in the short term, but I am okay with it in the long term. It just means cutting back in some other areas and maybe doing things slower than we originally planned.

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    I think, the hardest hit people will be in the largest cities, vancouver, toronto, etc.. And fuck them, you get what you vote for.

  6. #106
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    Quote Originally Posted by vengie View Post
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    Its not the people with $1mm mortgages that I care about.
    Its the lower income, hard working people getting slaughtered by poor policy.

    It hits close to home. I grew up lower income and watched my parents claw their way to prosperity.
    They have some wild stories of how they were dollars away from not being able to put food on the table growing up. Its humbling.
    Oh absolutely. Inflation is a killer. Our governments forgot all the lessons. Ah well.

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    Quote Originally Posted by dirtsniffer View Post
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    I think, the hardest hit people will be in the largest cities, vancouver, toronto, etc.. And fuck them, you get what you vote for.
    Guaranteed the Liberals will come up with some plan to bail them out.

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    Quote Originally Posted by ExtraSlow View Post
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    Can totally relate to growing up poor. There were a few lean years in my childhood too. I think it's good for kids to understand a little about the value of money and the process of price comparison. Made my kid put back a $12 bottle of body wash this week and let them pick a 2 for $6 one instead.
    I would have disowned that kid.

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    I've looked into it, hard to do until they turn 16.

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    Quote Originally Posted by Buster View Post
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    In all seriousness, regret is a tough thing to deal with. So stop it.

    People regret outcomes, which is a dangerous game to play. What you need to do is assess your decision making at the time. Did you make the best possible decision with the information that you had? If you fucked up the decision, then feel free to regret that. If you regret the outcomes, then you're just being a dope who doesn't understand that life is probabilistic and uncertain. People who are willing to embrace the probabilistic and use that as a context for their decision-making get ahead in life. People who demand certainty in life - let's call them "babies" - are eventually going to be at the mercy of those that understand that certainty is fundamentally an impossible goal and to chase it is a fool's errand which will only cost them money and opportunities. You must make predictions in life, we all do it all of the time. However, it is worth distinguishing between situations where predictions may have some utility for you, and situations which are inherently unknowable and thus inherently unpredictable.

    Did you make the wrong decision with your variable rate? No, you did not. Did you get the best possible outcome? No you did not. Both of these statements can be true.

    Assess your current situation, determine what you can now predict based on your current information. Don't be tricked into thinking you can now know a future unknowable because of your past painful experience and work the current situation as best you can. Or...lapse into being a little bitch like 99% of the population out there who is owned by people who are more evolved in their epistemology.
    Imma plus rep you when I've spread some love and likely that will be to that penis is mighty dude to keep you and him on top of each other.
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    Arash reminds me of Mar but I can't tell which one is more stupid.
    Quote Originally Posted by JRSC00LUDE View Post
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    Yeah well I wonder how they get the soft flowing caramel inside the Caramilk bar but you don't see me making a god damn thread about it. Slap your wife Baygirl, straighten him out.

  9. #109
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    Quote Originally Posted by suntan View Post
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    Amazing that a 3.75% rate is going to destroy people, but hey here we are.
    At the rates lowest, most high ratio mortgage qualified at 4.25%-4.5%. If this is sinking people, its their own damn fault for over leveraging themselves.

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    Quote Originally Posted by BokCh0y View Post
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    Imma plus rep you when I've spread some love and likely that will be to that penis is mighty dude to keep you and him on top of each other.
    *Jumps in.
    Imma reverse cowgirl on top kind of guy!

  11. #111
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    Quote Originally Posted by spike98 View Post
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    At the rates lowest, most high ratio mortgage qualified at 4.25%-4.5%. If this is sinking people, its their own damn fault for over leveraging themselves.
    https://forum.bodybuilding.com/showt...hp?t=181696783

    So 800K mortgage?

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    Quote Originally Posted by suntan View Post
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    My rate was 1.8% to start and the payments stay the same till rates reach 4.3%. Now after this 0.75% increase, they are above that since we've had multiple rate increases this year, so my trigger rate is reached and my payments will change accordingly because Im basically paying all interest at this point.
    What kind of shenanigans is this? Is this real/a thing in Canada??
    Quote Originally Posted by rage2 View Post
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    If I had known you guys would end up being such bitches, I would’ve opened the parenting forum.

  13. #113
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    Quote Originally Posted by suntan View Post
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    Doesn't matter the amount. Its relative to the household income. If someone barely scraping by the stress test buys the maximum amount offered, then rolls out for a track hawk. They are fucked. That is the whole reason for the stress test. Over leveraging themselves after the purchase is their own damn fault.

  14. #114
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    lol at mortgagecels

    rentcels rejoice!
    This.

  15. #115
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    I blame the banks
    Originally posted by rage2
    Shit, there's only 49 users here, I doubt we'll even break 100
    I am user #49

  16. #116
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    Quote Originally Posted by zechs View Post
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    What kind of shenanigans is this? Is this real/a thing in Canada??
    Yup, that's how most variable rate mortgages work in Canada.

    Where are you located?

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    Quote Originally Posted by spike98 View Post
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    Doesn't matter the amount. Its relative to the household income. If someone barely scraping by the stress test buys the maximum amount offered, then rolls out for a track hawk. They are fucked. That is the whole reason for the stress test. Over leveraging themselves after the purchase is their own damn fault.
    Just trying to figure out how much his mortgage is.

  17. #117
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    What are you all students or something?
    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.
    Originally posted by Toma
    fact.
    Quote Originally Posted by Yolobimmer View Post
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    guessing who I might be, psychologizing me with your non existent degree.

  18. #118
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    Quote Originally Posted by suntan View Post
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    That is pretty much exactly how I expected a thread on a body building forum to go.
    What a bunch of losers, yikes.

  19. #119
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    Recession car deals thread should get some more posts with people selling their toys?

  20. #120
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    People will think they can sell their 5 year old Corolla over 2023 MSRP. And they might be crazy enough to be right LOL
    Ultracrepidarian

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