2008 we saw the housing market domino several other sectors, car loans, credit cards, etc.

this go around is gonna be NASTY. housing, college debt, auto loans, personal business loans, etc. they might all go down together.

the illuminati might let trump win just to pin the worst financial collapse since the great depression on him. and as a bonus they can use his america first policy platform to rebuild faster than a neocon or warhawk could.

30 years aint so bad, i got in at 1.79 4 years ago

now the renewal is going to suck ass

No, its the thought that extending out durations is the solution to people being able to take on debt that I dont love. Its like a backpack. If you have the space you will fill it. 30 years will just mean people will think they can take on more debt and that just means a more expensive car that they will then finance for 8 years.

Not only that, I think Canada needs to go a very different route. We need to pump supply if we want a meaningful change but to do that we need to remove much of the red tape right to the municipal level. It should not take multiple years of permitting to get a development underway, nor should it cost nearly six figures in some areas to navigate and get that permitting process done and that's the low end. If its a larger development and not a single detached home it can cost upwards of hundreds of thousands , sometimes 7 figures. All that just gets shoved back into the per unit cost in the end as it has to.

I am also in favour of winding back code in some areas, we have had engineers with no clue how their changes impact the market rubber-stamping suggested changes for years and that gets written into provincial building code. There's no need for GFI outlets throughout an entire house, they're like 4 times the normal cost (just a small example). A lot of these code changes have been absurd and just increased the cost of M&E on builds significantly.

And lastly actual meaningful enforcement and penalization of foreign purchases and investment property purchases, UHT and foreign purchasing tax, its not cutting it.

All stretching out 30 years does is add demand without increasing supply so prices just go up and the amount you're paying monthly goes unchanged. Another pre-election year move in my opinion that is purely just for a headline and does nothing.

This post was edited by SBD on Apr 11 2024 05:49pm

Rates are going down right now

This is 100 percent accurate. Housing supply is the root issue and there is a plethora of things that could help that are not being done, some actively opposed.

Currently detailing out a new home build myself. The margin between buying existing and building new is pretty damn big in my region. Even with a lot of the build contracted out it still comes in less.

Anyways a POTUS could address supply by going after bank and corporate owned vacant houses. Also, municipalities should enforce their residential zoning. This business of allowing commercial short term rental in residential zones makes the regulations and regulators seem useless and toothless.


As for home code, it's wild. Houses with literal cardboard as their finish sheathing material. Durable cardboard houses. An ABET electrical engineer not supposed to wire basic 2-phase residential, better a alcoholic journeyman fresh out high school do it.

This post was edited by RedFromWinter on Apr 11 2024 09:44pm

Federal budget to increase capital gains inclusion rate to 2/3 for individuals with 250K or more of capital gains in the year, and for all corporate capital gains.

This is pretty big for corporations, even small corporations who hold property. Lots of boomers right now looking to sell their small businesses that might not have any life time capital gains exemption left, and lots of boomers dying which when you die you have a deemed disposition triggering all those capital gains on investment accounts.

The capital gains inclusion rate is a slippery slope that I was hoping they would not touch.

https://sports.yahoo.com/gap-between-caitlin-clarks-wnba-210602880.html

people bad at math are outraged and Caitlin Clarck's WNBA contract, worth about 75k for her first year.

"her games got so many ratings in NCAA"

"she's already selling tickets!"

etc etc etc

but it still doesnt translate to a windfall for her WNBA team yet. for example a courtside seat at one of her games is $515, but the same ticket for a milwaukee bucks game is $28.5k.

WNBA players dont historically move even a fraction of the jerseys, shoes, etc.

if she is the icon she's billed as she'll make a LOT in endorsements, as she should. she's already a millionare, and could make millions more per years in endorsements.

been in the news. now it looks like its hitting the fan
Breaking News: FBI serves subpoenas at Dolton Village Hall

another case of systemic something, I assume!

Dead forum will be dead for long time.