Elias Pettersson Posted April 6 Share Posted April 6 17 minutes ago, Optimist Prime said: Except he practiced law under his real name, and changed it to Singh when he ran for leadership of the NDP, and planted himself in BC to run as an MP. Literally just took it to avoid being a Dhaliwal politician in BC, that much is obvious, but none the less, he is not that bad a guy. That’s not actually true. Singh is his actual name. Jagmeet Singh Dhaliwal, aka Jimmy Dhaliwal. Singh is a common middle name for men of Sikh religion. My buddy who is East Indian and a Sikh told me this. Sikh women have the middle name Kaur. Singh is “Lion” and Kaur is “Princess”. 2 1 Quote Link to comment Share on other sites More sharing options...
filthy animal Posted April 6 Share Posted April 6 6 hours ago, Elias Pettersson said: That’s not actually true. Singh is his actual name. Jagmeet Singh Dhaliwal, aka Jimmy Dhaliwal. Singh is a common middle name for men of Sikh religion. My buddy who is East Indian and a Sikh told me this. Sikh women have the middle name Kaur. Singh is “Lion” and Kaur is “Princess”. I learned something here, I knew about the males having Singh as their middle names and Kaur for the ladies, but didn't think they had a meaning , just a name till now Im really trying to get into Indian food, but it just isn't my thing, other than butter chicken and that cheese paneer, im just not feeling the rest of it, I don't see where all the hype is, but thats just me 1 Quote Link to comment Share on other sites More sharing options...
Miss Korea Posted April 6 Share Posted April 6 8 hours ago, Elias Pettersson said: That’s not true. The average price of a detached home in East Vancouver in March 2010 was just over $700,000. You could easily buy a house in East Vancouver in 2010 if you had between $50-100k down payment and your income was $100k. Today that same house is close to $1.9 million. So you would need a $1.1 million downpayment with an annual income of over $200k to be able to purchase the exact same house. And some people want me to believe that our purchasing power is better today than it was 20 years ago. Laughable if it wasn’t so sad. I've already presented you with evidence that purchasing power has remained consistent or even improved. This isn't some abstract concept where you can just spew your opinion and say "I know better than some chart". All the economic historical data suggests you're completely wrong here so the he burden is on you to actually prove it. You brought up purchasing power without really knowing what it truly meant and made yourself look like a fool. 1 Quote Link to comment Share on other sites More sharing options...
Elias Pettersson Posted April 6 Share Posted April 6 1 hour ago, Miss Korea said: I've already presented you with evidence that purchasing power has remained consistent or even improved. This isn't some abstract concept where you can just spew your opinion and say "I know better than some chart". All the economic historical data suggests you're completely wrong here so the he burden is on you to actually prove it. You brought up purchasing power without really knowing what it truly meant and made yourself look like a fool. LMFAO. So, you're telling me that a buyer who needs a $1.1 million downpayment to buy a home in 2024 whereby you only needed around $100k downpayment in 2010 to buy the exact same home has more purchasing power in 2024 than in 2010? And that same buyer who only needed to make around $100k per year in income to buy that house in 2010, who now needs over $200k in income to buy the exact same house, has more purchasing power today than in 2010? Gas was .50 per litre in 1998. Today it's 2.15. Can you show me where incomes have gone up by 4 times since 1998? What was a teacher making in 1998 versus today? The only fool here is you... 1 1 1 1 Quote Link to comment Share on other sites More sharing options...
Bob Long Posted April 6 Share Posted April 6 13 hours ago, Optimist Prime said: The right wing folks will agree: let the free market decide. I said like 5 weeks ago: when i was ready to settle down and have a family I made a choice to leave the Lower Mainland/Vancouver Island area of my youth and make a living for myself out in the world. My nephews in their generation have by and large done the same and moved to places where they can earn 120k, 155k and a niece making almost 200k, but not in the most expensive place to live, they had to leave to make it and buy their homes. Like me, they will eventually retire back to where we are from and have a nice retirement with income and savings and home ownership as a result. My advice if you are making less than 50k a year in Vancouver is to stop doing that. You can be poor in Newfoundland, or PEI or an awesome place like Fredericton, New Brunswick, but the odds are you can afford to live there and save money for your retirement. I dont see any government measure from any party who may be in government in the future making a House in Vancouver affordable for anyone earning less than 50k, or a family earning less than 100k. Hate to be the bearer of bad news. Unfortunately it is just supply and demand: Canada is the best nation on earth to live in. I have seen most of the continents and a lot of countries in my time, and there is no better place than here in the Great White North, hosers. ON top of that, I find BC to be one of the best provinces within that great nation, and specifically the Lower Mainland and Vancouver Island and the Gulf Islands to be the best space in BC. Ergo, one of the very best places to live on earth is here, where most of us Vancouver Fans live and work and retired. They are not making the lower mainland any bigger... so it is only going to get taller and more costly. Do we have any numbers on kids that have been leaving BC for better economic prospects? Quote Link to comment Share on other sites More sharing options...
chris12345 Posted April 6 Share Posted April 6 5 minutes ago, Bob Long said: Do we have any numbers on kids that have been leaving BC for better economic prospects? I don't have hard facts but it seems more people are taking jobs in Alberta and moving. Quote Link to comment Share on other sites More sharing options...
Elias Pettersson Posted April 6 Share Posted April 6 (edited) 5 minutes ago, chris12345 said: I don't have hard facts but it seems more people are taking jobs in Alberta and moving. Why would people need to move to Alberta from Vancouver when those same people are better off living in Vancouver today than they were in 1998? I'm confused... Edited April 6 by Elias Pettersson Quote Link to comment Share on other sites More sharing options...
chris12345 Posted April 6 Share Posted April 6 1 hour ago, Elias Pettersson said: LMFAO. So, you're telling me that a buyer who needs a $1.1 million downpayment to buy a home in 2024 whereby you only needed around $100k downpayment in 2010 to buy the exact same home has more purchasing power in 2024 than in 2010? And that same buyer who only needed to make around $100k per year in income to buy that house in 2010, who now needs over $200k in income to buy the exact same house, has more purchasing power today than in 2010? Gas was .50 per litre in 1998. Today it's 2.15. Can you show me where incomes have gone up by 4 times since 1998? What was a teacher making in 1998 versus today? The only fool here is you... Is it really only $200k to buy a house in Van? Quote Link to comment Share on other sites More sharing options...
chris12345 Posted April 6 Share Posted April 6 1 minute ago, Elias Pettersson said: Why would people need to move to Alberta from Vancouver when those same people are better off living in Vancouver today than they were in 1998? I'm confused... Well the ironic thing is I don't live in Van so the people I know aren't even bailing out of rich town. 1 Quote Link to comment Share on other sites More sharing options...
Elias Pettersson Posted April 6 Share Posted April 6 Just now, chris12345 said: Is it really only $200k to buy a house in Van? It was $250k to buy a house in East Vancouver in 1998. That same house today is worth $1.9 million... Quote Link to comment Share on other sites More sharing options...
Bob Long Posted April 6 Share Posted April 6 Just now, chris12345 said: I don't have hard facts but it seems more people are taking jobs in Alberta and moving. Seems so. It was that way when I left SK back in the stone age. I think half my class from high school ended up in Cowtown. I went east to begin with. It's certainly not an uncommon choice. I do wonder maybe when you start out in such a great place like BC it makes it feel like a downgrade to move, so maybe that's part of it. What I have a hard time with is people remaining and being miserable about it. No one deserves anything and we're incredibly lucky to have mobility within Canada to make moves for better financial reasons. Quote Link to comment Share on other sites More sharing options...
chris12345 Posted April 6 Share Posted April 6 (edited) 3 minutes ago, Elias Pettersson said: It was $250k to buy a house in East Vancouver in 1998. That same house today is worth $1.9 million... Sorry in income not cost. No way I'm buying a $1.9m house with $200k of income. Edited April 6 by chris12345 Quote Link to comment Share on other sites More sharing options...
chris12345 Posted April 6 Share Posted April 6 4 minutes ago, Bob Long said: Seems so. It was that way when I left SK back in the stone age. I think half my class from high school ended up in Cowtown. I went east to begin with. It's certainly not an uncommon choice. I do wonder maybe when you start out in such a great place like BC it makes it feel like a downgrade to move, so maybe that's part of it. What I have a hard time with is people remaining and being miserable about it. No one deserves anything and we're incredibly lucky to have mobility within Canada to make moves for better financial reasons. Exactly moving is so easy. We can choose where we live and how we earn a living.....pretty wild. That's not an option everywhere. Quote Link to comment Share on other sites More sharing options...
Elias Pettersson Posted April 6 Share Posted April 6 Just now, chris12345 said: Sorry in income not cost. The income is irrelevant. You could literally buy a house in East Van in 1998 with like a $25k downpayment as a first time homebuyer. Your $50k salary was enough to qualify for the mortgage on the house. Today, you would need a minimum of a $400k downpayment to buy that same house. And you would need to be making over $400,000 income per year in order to qualify for the $1.5 million mortgage you would need to buy the house... Quote Link to comment Share on other sites More sharing options...
Bob Long Posted April 6 Share Posted April 6 (edited) 12 minutes ago, chris12345 said: Exactly moving is so easy. We can choose where we live and how we earn a living.....pretty wild. That's not an option everywhere. It sure isn't. If you're looking for career in government, which can have good options for moving, you can start out in a smaller place out east, or somewhere bigger like Winnipeg and get started building equity. Edited April 6 by Bob Long Quote Link to comment Share on other sites More sharing options...
chris12345 Posted April 6 Share Posted April 6 3 minutes ago, Elias Pettersson said: The income is irrelevant. You could literally buy a house in East Van in 1998 with like a $25k downpayment as a first time homebuyer. Your $50k salary was enough to qualify for the mortgage on the house. Today, you would need a minimum of a $400k downpayment to buy that same house. And you would need to be making over $400,000 income per year in order to qualify for the $1.5 million mortgage you would need to buy the house... Is it irrelevant though? Have salaries gone up 8x? Quote Link to comment Share on other sites More sharing options...
Optimist Prime Posted April 6 Share Posted April 6 27 minutes ago, Bob Long said: Do we have any numbers on kids that have been leaving BC for better economic prospects? Just anecdotal for me, I have ...<counts on his fingers>... 21 nephews and nieces, easily a third of them have left the lower mainland/vancouver island and of those seven or eight, every one of them owns their own home now. Of those who didn't leave the 'best region on earth' only the farm kids have their own homes, which they helped build with their own hands. 1 Quote Link to comment Share on other sites More sharing options...
Bob Long Posted April 6 Share Posted April 6 11 minutes ago, Optimist Prime said: Just anecdotal for me, I have ...<counts on his fingers>... 21 nephews and nieces, easily a third of them have left the lower mainland/vancouver island and of those seven or eight, every one of them owns their own home now. Of those who didn't leave the 'best region on earth' only the farm kids have their own homes, which they helped build with their own hands. So how are they making it work, rent or decent jobs? Quote Link to comment Share on other sites More sharing options...
Elias Pettersson Posted April 6 Share Posted April 6 (edited) 27 minutes ago, chris12345 said: Is it irrelevant though? Have salaries gone up 8x? No, of course not. What I meant was the price of the house is so high now and the downpayment is so large that it doesn't really matter what your income is. Your first concern is coming up with the $400k downpayment, which would eliminate 99.99% of all buyers, unless you are getting the money from your parents. I mean not even a lawyer or a doctor has $400k lying around in their chequing account. There are LOTS of doctors and lawyers that are currently renting houses in Vancouver. They have the income but do not have a significant amount of a downpayment to buy into the market... Edited April 6 by Elias Pettersson Quote Link to comment Share on other sites More sharing options...
Miss Korea Posted April 6 Share Posted April 6 2 hours ago, Elias Pettersson said: LMFAO. So, you're telling me that a buyer who needs a $1.1 million downpayment to buy a home in 2024 whereby you only needed around $100k downpayment in 2010 to buy the exact same home has more purchasing power in 2024 than in 2010? And that same buyer who only needed to make around $100k per year in income to buy that house in 2010, who now needs over $200k in income to buy the exact same house, has more purchasing power today than in 2010? Gas was .50 per litre in 1998. Today it's 2.15. Can you show me where incomes have gone up by 4 times since 1998? What was a teacher making in 1998 versus today? The only fool here is you... Just keep cherry-picking. You either have no proof, or worse - you haven't even bothered to check. I don't know where you developed this level of arrogance where you think you can spout stuff like this with nothing to back it up, but your opinion is irrelevant. Talking about something like purchasing power isn't a matter of opinion. Stop being lazy and find some goddamn evidence to support your position. Otherwise, nobody cares how rich or how old or how experienced you are. Maybe your individual income didn't keep up with inflation over the years. I don't know, but I do know that the average income for a Canadian has tripled since 2000. This isn't hockey. This is money. Numbers are the only thing that matter when it comes to money. 1 Quote Link to comment Share on other sites More sharing options...
The Arrogant Worms Posted April 6 Share Posted April 6 Trudeau says news on mortgages is coming in federal budget https://financialpost.com/real-estate/mortgages/trudeau-news-mortgages-coming-federal-budget Quote Link to comment Share on other sites More sharing options...
Elias Pettersson Posted April 6 Share Posted April 6 4 minutes ago, Miss Korea said: Just keep cherry-picking. You either have no proof, or worse - you haven't even bothered to check. I don't know where you developed this level of arrogance where you think you can spout stuff like this with nothing to back it up, but your opinion is irrelevant. Talking about something like purchasing power isn't a matter of opinion. Stop being lazy and find some goddamn evidence to support your position. Otherwise, nobody cares how rich or how old or how experienced you are. Maybe your individual income didn't keep up with inflation over the years. I don't know, but I do know that the average income for a Canadian has tripled since 2000. This isn't hockey. This is money. Numbers are the only thing that matter when it comes to money. I already provided you with evidence. You just don't like it, that's your problem not mine. Explain to me how a person is better off in 2024 than they were in 1998 when the price of a house has gone up by 8x. Can you explain that? Gas has gone up by over 4x. It isn't arrogance, it's called providing factual information. You just don't like the facts, so it bothers you and then you resort to name calling like you do with every other poster. The average income has gone up by 3x since 2000? Really? Like with who? Maybe you're the one that needs to back that up. Here, I'll actually do some work and provide some history on that. This is from the government of Canada website. The average hourly wage in 1998 was $17.57 for people between the ages of 25-54. In 2022 it was $34.78. How exactly is that TRIPLE the amount like you claim, or are you "cherry picking" jobs? There literally isn't even one single job on this website that shows that incomes have tripled since 1998. Employee wages by occupation, annual, 1997 to 2022, inactive (statcan.gc.ca) So, why don't YOU provide some goddamn evidence to support YOUR position? Average income was $37,000 in 1998 and you could buy a house for $250,000 and gas was .50 per litre. Fast forward to 2022 and the average income was $72,000 and the average price of a house was $1.7 million and gas was 2.07 per litre. But somehow I am better off today than in 1998? 1 1 1 1 Quote Link to comment Share on other sites More sharing options...
bishopshodan Posted April 6 Share Posted April 6 13 hours ago, Optimist Prime said: Except he practiced law under his real name, and changed it to Singh when he ran for leadership of the NDP, and planted himself in BC to run as an MP. Literally just took it to avoid being a Dhaliwal politician in BC, that much is obvious, but none the less, he is not that bad a guy. yep. Singhs are cool. Quote Link to comment Share on other sites More sharing options...
nuckin_futz Posted April 6 Share Posted April 6 (edited) Cracks in the Canadian economy are widening - CIBC Today's jobs report is a warning sign Canada's jobs report showed a decline of 2.2K jobs in February, worse than the +25K reading expected. The headline is even worse than it looks when you consider runaway growth in Canadian immigration that led to a rise in the unemployment rate to 6.1% from 5.8%. That's the highest since 2017. "The cracks that had been slowly emerging within the Canadian labour market suddenly got much wider in March," writes CIBC. "By sector, weakness in headline employment reflected declines in accommodation & food services and retail & wholesale, suggesting that the sluggishness in consumer spending is impacting hiring plans." They note that population grew by 91K in the month with the labour force up by 58K. "With GDP expected to weaken in Q2 following the surprisingly strong start to the year, we would expect to see further softening in the labour market with the unemployment rate peaking close to 6.5%. However, interest rate cuts starting in June should bring a re acceleration in growth, which will help to stabilize the labour market in the second half of the year and into 2025," CIBC writes. The market is pricing in a 74% chance of a June 5 rate cut and 73 bps of easing this year. Edited April 6 by nuckin_futz Quote Link to comment Share on other sites More sharing options...
Bob Long Posted April 6 Share Posted April 6 33 minutes ago, The Arrogant Worms said: Trudeau says news on mortgages is coming in federal budget https://financialpost.com/real-estate/mortgages/trudeau-news-mortgages-coming-federal-budget hopefully it's to make it easier for the kids to get into the market. It won't help with supply but whatever we can do we should. 1 Quote Link to comment Share on other sites More sharing options...
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