Optimist Prime Posted August 28 Share Posted August 28 4 minutes ago, stawns said: I keep telling my 25 year old to just be patient when she claims she'll never own a home. In 10-15 years there'll be more homes than people I lived in some toilets before my first home purchase. Funny, and at the time super freaky: first morning with cable in my new place we bought I woke up, put on coffee and set to unpacking some mugs and plates. Turned on the TV and live on the air was one of the twin towers coming down I thought it was a movie till my dad called me. My advice for your daughter: never carry a CC balance but do use them to flow spending through with a reward card that she may love the rewards from. I have a scene visa card, funnel all spending through it and pay it off every month. I get a 100 dollar gift card with my points every month, more or less. Also, even though it's hard and it hurts, pay herself 10% of every paycheck first, before anything else, sock that away for a rainy day. Even at minimum wage that will be 50 grand in ten years without even thinking about it. Save as much as possible and struggle to get 6 months wages in the bank. When she is at that little plateau her life will look and feel so much better. 1 Quote Link to comment Share on other sites More sharing options...
Elias Pettersson Posted August 28 Share Posted August 28 38 minutes ago, Bob Long said: Lets say you are right and this is all Justins fault. Tell me the CPC plan to fix it, and by when. I never said the Cons had a plan. I don't think anyone can fix this mess Bob. We are fooked... Quote Link to comment Share on other sites More sharing options...
Popular Post Elias Pettersson Posted August 28 Popular Post Share Posted August 28 35 minutes ago, 6of1_halfdozenofother said: You're expecting a guy with real estate background and experts coming over for dinner to elucidate a plan that can only be described as vapourware? You sure do spend alot of time chirping about me without ever directly quoting me. You and Rupert need to get a room with a Petey sign on it. Maybe I'll buy you guys a steak dinner so you can have a good time. Drinks on me too... 2 3 Quote Link to comment Share on other sites More sharing options...
Optimist Prime Posted August 28 Share Posted August 28 Young folks should learn to plan over the horizon. Minimum wage earners at full time employment should sit down and plan what they are going to do with the half million dollars they will earn in the next ten years. It is a significant amount of money and if they choose to partner up, there is a million bucks to plan around for the happy couple over the next ten years. Plan your work, work your plan. Quote Link to comment Share on other sites More sharing options...
Optimist Prime Posted August 28 Share Posted August 28 24 minutes ago, Elias Pettersson said: According to independent statistics, 25% of Canadians are living at or below the poverty line. What was that number 10 years ago? 20 years ago? I shudder to guess who the stats are made by, but none the less... link please? Quote Link to comment Share on other sites More sharing options...
Elias Pettersson Posted August 28 Share Posted August 28 27 minutes ago, aGENT said: No, I'll be voting for the least damaging/best option in my riding. But yes, at present we are all basically "fooked". Worst part is, we're largely doing to ourselves. Purchasing habits... You're so busy being distracted by "left" vs "right" and "woke" etc garbage that you're failing to see that this is really a "rich" (Neo Liberals) vs "everybody else" problem. I'm not denying it's a rich problem. The middle class has been shrinking for decades. I'm not denying that at all. I blame government period. I said this in the US politics thread. Inflation is caused by government policies. Specifically, the printing of money. Every time money gets printed prices go up. It's a perpetual cycle that will never end. Our currency is a "fiat" currency for a reason. It's because it has no real value. Nobody knows how many actual dollars are out there because they stopped counting after the dollar was taken off the gold standard. One day we are all going to wake up with no money in the bank because the dollar will be worthless. Then we really will be fooked. You wanna protect yourself. Buy real estate and gold. The government will have a much harder time taking those things away from you then your money... Quote Link to comment Share on other sites More sharing options...
Optimist Prime Posted August 28 Share Posted August 28 26 minutes ago, Elias Pettersson said: According to independent statistics, 25% of Canadians are living at or below the poverty line. What was that number 10 years ago? 20 years ago? Quote Canada's overall poverty rate was estimated at 7.4% in 2021, up from 6.4% in 2020 and down from 14.5% in 2015. The poverty rate for children was 6.4% in 2021, up from 4.7% in 2020. When compared to 2015, there were approximately 653,000 fewer children living in poverty in 2021.May 3, 2023 You really need to ignore your barbers cousins dog walkers meth dealer when your looking for stats. 2 Quote Link to comment Share on other sites More sharing options...
Elias Pettersson Posted August 28 Share Posted August 28 2 minutes ago, Optimist Prime said: I shudder to guess who the stats are made by, but none the less... link please? New report says 1 in 4 Canadians may be living in poverty - National | Globalnews.ca What poverty levels look like in Canada | CTV News A new report from Food Banks Canada suggests the number of Canadians living in poverty may be higher than previously thought, with the organization estimating 25 per cent could fall under this category because they cannot afford two or more household essentials. A new report from Food Banks Canada says 25 per cent of Canadians are experiencing a poverty standard of living, compared to the official Statistics Canada poverty rate of 10 per cent. The report cites the ‘Material Deprivation Index’ (MDI) using Canadian data and finds that a quarter of the country cannot afford two or more household essentials. 1 Quote Link to comment Share on other sites More sharing options...
Warhippy Posted August 28 Share Posted August 28 4 hours ago, Elias Pettersson said: Weird how you seem to think that inflation and interest rates have gone down. Prime rate in July, 2015 - 2.70% Prime rate in July, 2024 - 6.70% Where exactly did interest rates go down since Trudeau took office? Can you explain that? Inflation rate June, 2015 - 1.0% Inflation rate June, 2024 - 2.70% Again, please tell me where inflation went down since Trudeau took office? Who are the ones who are really lying? YOu're being intentonally obtuse at best, and intentionally ignorant at worst. We lived with artificially low rates from 2009 through 2020. Rates going back down? OK. So back to the artifical levels they were pre trudeau? That's kind of a ridiculous ask and the timeline you're using is even more specious. You're smarter than this, don't be that guy Quote Link to comment Share on other sites More sharing options...
Elias Pettersson Posted August 28 Share Posted August 28 6 minutes ago, Optimist Prime said: You really need to ignore your barbers cousins dog walkers meth dealer when your looking for stats. Not my barber. An independent study that I quoted you on. I'll believe Food Banks Canada before I'll believe anything this government puts out... Quote Link to comment Share on other sites More sharing options...
Warhippy Posted August 28 Share Posted August 28 (edited) 4 hours ago, Elias Pettersson said: So you admit there has been rampant inflation since 2015? Recent trends? Two interest rate drops of .25% each after rates going up over 4% in less than 2 years is a "trend"? Also, you do realize that the reason rates are going down is because the economy is slowing down right? It's because people can't afford to buy a home, pay their rent or even go to McDonald's right? Prime rate March 2020: 2.70% Inflation rate 2020: 0.72% Again, being intentionally misleading here. Housing, McDonalds etc. ALL of that is a corporate issue not an inflation issue. This is the free market at work. Blaming the government is again, misleading and intentionally lying to people. Edited August 28 by Warhippy Quote Link to comment Share on other sites More sharing options...
Optimist Prime Posted August 28 Share Posted August 28 Just now, Elias Pettersson said: Not my barber. An independent study that I quoted you on. I'll believe Food Banks Canada before I'll believe anything this government puts out... You really should read that article thoroughly. The "stats" are from a new model introduced by the food banks from surveys done by the people who use food banks, and questioned them on how the felt about certain affordability of certain items. I am sure it has merrit, however critical thinking skills need to applied when interpreting the article. Thank you for the link, it was a good read. 1 Quote Link to comment Share on other sites More sharing options...
Popular Post Warhippy Posted August 28 Popular Post Share Posted August 28 4 hours ago, Elias Pettersson said: Nobody ever said there was never inflation. However, when a family can't even go to McDonald's anymore because it is too expensive, you know things are out of control. When generation z has no hope of ever owning a home in their lifetimes, you know things are out of control. When people can't even afford to pay rent on a one-bedroom condo, you know things are out of control. The worst part about all of this is it doesn't seem like anybody has the answers on how to fix this mess. Nobody. If the CDC was still around you could go back to the dewey slopes of 2014 where people were saying McDonalds is to expensive (honestly, what a stupid metric) housing is too expensive to own, rent was out of control. Good ol Harvey as there defending the real estate market and Joe, Forsberg and Strome were there blaming the Libs because McDonalds corporate pricing was increasing and the dollar menu was gone. Again, housing and corporate pricing are not goverment caused problems, they are greed caused problems and are not new. At all. People trying to continually pin this on the government are frightfully stupid, or intentionally lying to those that are frightfully stupid. 1 2 1 1 Quote Link to comment Share on other sites More sharing options...
Elias Pettersson Posted August 28 Share Posted August 28 3 minutes ago, Warhippy said: YOu're being intentonally obtuse at best, and intentionally ignorant at worst. We lived with artificially low rates from 2009 through 2020. Rates going back down? OK. So back to the artifical levels they were pre trudeau? That's kind of a ridiculous ask and the timeline you're using is even more specious. You're smarter than this, don't be that guy OP said rates are dropping, inflation is dropping. He obviously was trying to connect that with the Trudeau government. I posted verified stats, so not sure what the issue is. Were interest rates higher in the 1980's and 1990's? Sure they were. But I could also buy a house in 1998 for a little over $200k. So, the interest rate on my mortgage didn't matter. People could buy homes in 1982 for $80k. What did it matter what the rate was? Problem with the current situation is that interest rates HAVE to be artificially low in order for people to be able to buy a home. If they are even at the average of the last 50 years, then buyers are fooked. A 6% interest rate in 1998 wasn't going to stop you from buying a home. In 2024, a 6% interest rate when you need that $500k mortgage just to buy a one bedroom condo in Vancouver is going to stop most buyers from buying. Without artificially low interest rates of 2-3%, this market isn't sustainable. We are fooked... 1 Quote Link to comment Share on other sites More sharing options...
Elias Pettersson Posted August 28 Share Posted August 28 10 minutes ago, Warhippy said: Prime rate March 2020: 2.70% Inflation rate 2020: 0.72% Again, being intentionally misleading here. Housing, McDonalds etc. ALL of that is a corporate issue not an inflation issue. This is the free market at work. Blaming the government is again, misleading and intentionally lying to people. Housing is a corporate issue? How so? Quote Link to comment Share on other sites More sharing options...
Elias Pettersson Posted August 28 Share Posted August 28 5 minutes ago, Warhippy said: If the CDC was still around you could go back to the dewey slopes of 2014 where people were saying McDonalds is to expensive (honestly, what a stupid metric) housing is too expensive to own, rent was out of control. Good ol Harvey as there defending the real estate market and Joe, Forsberg and Strome were there blaming the Libs because McDonalds corporate pricing was increasing and the dollar menu was gone. Again, housing and corporate pricing are not goverment caused problems, they are greed caused problems and are not new. At all. People trying to continually pin this on the government are frightfully stupid, or intentionally lying to those that are frightfully stupid. This is absolutely not true at all. Who is being obtuse here? Who let foreigners come into this country and allowed them to buy up all of Vancouver? Who allowed people to flip pre sale condos without penalty, without even having to pay taxes on profits? Who allowed artificially low interest rates to continue for over a decade? Who created all of the red tape that forced developers to have to spend almost 8 years just to build a hi rise? Who takes in almost 30% of the net profit in the sale of a new development project in Vancouver? I'll give you a hint. It starts with a G and ends with a T... Quote Link to comment Share on other sites More sharing options...
Warhippy Posted August 28 Share Posted August 28 57 minutes ago, 6of1_halfdozenofother said: https://www.cbc.ca/news/canada/british-columbia/tanker-traffic-trans-mountain-pipeline-expansion-1.7305702 Vancouver tanker traffic rises tenfold after TMX project Activists, B.C. government concerned about potential oil spill as traffic through Burrard Inlet increases Excerpt 1: Excerpt 2: Increased tanker traffic to the tune of about 1000% increase, but no confirmation of an updated spill mitigation plan. Nothing bad could possibly come out of that, could it? Look at the massive reduction in prices at the pumps we were promised! Look at it! Just look!! Ohh wait, nm it didn't even happen. Ya, we all talked about this. We knew it was gonna happen. Can only fit one tanker through there at a shot. So ya, good times. Still pro pipeline though. Quote Link to comment Share on other sites More sharing options...
Warhippy Posted August 28 Share Posted August 28 7 minutes ago, Elias Pettersson said: Housing is a corporate issue? How so? We've had this conversation. The financialization of Canadas housing market. Look it up. Look up Pacific Cove, Quarom and Crest properties and how many apartments, condo units and row homes they've bought. Hint, Cove owns no less than 70% of the ENTIRE apartment market in penticton BC. Housing is not a government related issue it's a pure greed issue. Governments don't dictate the price of housing and don't give me the "immigrants" fucking gab because I aint having it. It's part of the issue but not THE isue. Housing has been slow for decades and an issue for over 20 years on the affordability levels. Tell a developer they HAVE to build low income housing. They'll cancel a development and look for a better option. That's what government intervention will do. Anyone seriously saying that the government is the problem, or the government will fix it is deluded. 1 1 Quote Link to comment Share on other sites More sharing options...
Warhippy Posted August 28 Share Posted August 28 13 minutes ago, Elias Pettersson said: OP said rates are dropping, inflation is dropping. He obviously was trying to connect that with the Trudeau government. I posted verified stats, so not sure what the issue is. Were interest rates higher in the 1980's and 1990's? Sure they were. But I could also buy a house in 1998 for a little over $200k. So, the interest rate on my mortgage didn't matter. People could buy homes in 1982 for $80k. What did it matter what the rate was? Problem with the current situation is that interest rates HAVE to be artificially low in order for people to be able to buy a home. If they are even at the average of the last 50 years, then buyers are fooked. A 6% interest rate in 1998 wasn't going to stop you from buying a home. In 2024, a 6% interest rate when you need that $500k mortgage just to buy a one bedroom condo in Vancouver is going to stop most buyers from buying. Without artificially low interest rates of 2-3%, this market isn't sustainable. We are fooked... With artificially low interest rates we are fucked. We saw it for over a decade, the bubble blew up to insane levels. People buying homes they couldn't afford and corporations buying homes en masse after the game changer in 2012/2013. Rates exploded world wide at the same time. canada has actually done better than most of the G8 nations in regards to bringing it down. Using ONLY the 2015 metric to now is intentionally misleading and you know it. 1 Quote Link to comment Share on other sites More sharing options...
Warhippy Posted August 28 Share Posted August 28 6 minutes ago, Elias Pettersson said: This is absolutely not true at all. Who is being obtuse here? Who let foreigners come into this country and allowed them to buy up all of Vancouver? Who allowed people to flip pre sale condos without penalty, without even having to pay taxes on profits? Who allowed artificially low interest rates to continue for over a decade? Who created all of the red tape that forced developers to have to spend almost 8 years just to build a hi rise? Who takes in almost 30% of the net profit in the sale of a new development project in Vancouver? I'll give you a hint. It starts with a G and ends with a T... OK lets go line by line You. Bc Liberals, Campbell/Clarke Bc Liberals, Campbell, Clarke and the former Harper government. (you yourself are pissed that trudeau changed that after numerous comments) Harper, Trudeau. Who then raised them but apparently didn't do it right so it's bad, but lowering them isn't good either apparently so...pick a lane? Vancouver Mayor, Gregor, BC Liberals Campbell/Clarke. BC NDP changed that with their infill plan. The municipality of Vancouver. So ya, you're saying it's the "governments fault" but that ins't true at all. Pricing is set by the market, the market is currently skewed and intentionally so. The financialization of our markets has been going on for over a decade and more and that is the direct cause of these insane housing prices, coupled with people buying income properties they couldn't affrod due to artificially low rates, who then flipped it while not paying taxes after a year over year increase in some areas of nearly 30% but now that rates are increasing they can't afford the mortgage payments they didn't check to qualify for due to those low rates and as such might lose their investment and cant sell it because now they haveto pay taxes on it and sine rates went up the market isn't as hot as before so.....government or? This is the free market period. You know better Quote Link to comment Share on other sites More sharing options...
4petesake Posted August 28 Share Posted August 28 26 minutes ago, Optimist Prime said: You really should read that article thoroughly. The "stats" are from a new model introduced by the food banks from surveys done by the people who use food banks, and questioned them on how the felt about certain affordability of certain items. I am sure it has merrit, however critical thinking skills need to applied when interpreting the article. Thank you for the link, it was a good read. According to the MDI model (material deprivation index) adopted by Food Banks if a respondent can’t buy gifts or celebrate a holiday combined with one other item such as dental they are considered living under the poverty line. These are the 11 items in the index, any 3 of which classify one as materially deprived. Turns out I spent half my life “under the poverty line” without even knowing it. Quote Link to comment Share on other sites More sharing options...
Elias Pettersson Posted August 28 Share Posted August 28 10 minutes ago, Warhippy said: We've had this conversation. The financialization of Canadas housing market. Look it up. Look up Pacific Cove, Quarom and Crest properties and how many apartments, condo units and row homes they've bought. Hint, Cove owns no less than 70% of the ENTIRE apartment market in penticton BC. Housing is not a government related issue it's a pure greed issue. Governments don't dictate the price of housing and don't give me the "immigrants" fucking gab because I aint having it. It's part of the issue but not THE isue. Housing has been slow for decades and an issue for over 20 years on the affordability levels. Tell a developer they HAVE to build low income housing. They'll cancel a development and look for a better option. That's what government intervention will do. Anyone seriously saying that the government is the problem, or the government will fix it is deluded. Are those rentals that they own or strata? Buying up apartment buildings has nothing to do with the housing crisis. Somebody has to own them. And then those suites get rented out. How exactly does that affect individual condo buyers? If you think government isn't the problem when it comes to housing then I can't really help you. You are too far out of touch with reality and you would need to come to one of my dinner parties with real estate insiders in order for you to fully understand why. I don't have that time on a message board... Quote Link to comment Share on other sites More sharing options...
Bob Long Posted August 28 Share Posted August 28 1 hour ago, Elias Pettersson said: I'm getting better at it. My new thing is the cold sear. I've almost perfected it... Before I stopped eating beef, I was using sous vide first, then a very high heat sear using ghee, finishing with herbed butter. Also played a lot with charcoal techniques but it's hard to go back from sous vide perfection. 1 Quote Link to comment Share on other sites More sharing options...
Elias Pettersson Posted August 28 Share Posted August 28 9 minutes ago, 4petesake said: According to the MDI model (material deprivation index) adopted by Food Banks if a respondent can’t buy gifts or celebrate a holiday combined with one other item such as dental they are considered living under the poverty line. These are the 11 items in the index, any 3 of which classify one as materially deprived. Turns out I spent half my life “under the poverty line” without even knowing it. Pretty sure if you can't afford to go to the dentist, take the bus, buy a pair of shoes, buy a gift for a friend's birthday, have $500 in reserve in the bank, buy a new shirt, have heating in your home, or pay your TELUS phone bill, you would be considered living in poverty by most people... Quote Link to comment Share on other sites More sharing options...
Elias Pettersson Posted August 28 Share Posted August 28 (edited) 17 minutes ago, Warhippy said: OK lets go line by line You. Bc Liberals, Campbell/Clarke Bc Liberals, Campbell, Clarke and the former Harper government. (you yourself are pissed that trudeau changed that after numerous comments) Harper, Trudeau. Who then raised them but apparently didn't do it right so it's bad, but lowering them isn't good either apparently so...pick a lane? Vancouver Mayor, Gregor, BC Liberals Campbell/Clarke. BC NDP changed that with their infill plan. The municipality of Vancouver. So ya, you're saying it's the "governments fault" but that ins't true at all. Pricing is set by the market, the market is currently skewed and intentionally so. The financialization of our markets has been going on for over a decade and more and that is the direct cause of these insane housing prices, coupled with people buying income properties they couldn't affrod due to artificially low rates, who then flipped it while not paying taxes after a year over year increase in some areas of nearly 30% but now that rates are increasing they can't afford the mortgage payments they didn't check to qualify for due to those low rates and as such might lose their investment and cant sell it because now they haveto pay taxes on it and sine rates went up the market isn't as hot as before so.....government or? This is the free market period. You know better Isn't everything in bold a part of GOVERNMENT? You literally just proved my point!! Thank you!! FYI, our BC housing minister during the Christy Clark days used to own 8 properties. Oh, how the government uses its own policies to enrich themselves... Edited August 28 by Elias Pettersson Quote Link to comment Share on other sites More sharing options...
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