All you need is a beach like this fellow! http://www.supercars .net/Pics?vpf3=y&gID=4&fID=0&tID=177043&mID=3346931&l=a Put the 2 links together...warning picture shows a lot of skin
Things are ok. Just waiting for a visit from my long time-tracksuit wearin-baldheaded-goldchainwearin-polyester308drivin-buddy of mine to come visit me!
Good day Big Red, In regards to your comments: Interest rates are one of the few mechanisms that the Government can use to control inflation. Even now "real" inflation is magnitudes larger than what the Government publishes. I say this, as I personally have seen a number of everyday goods (milk, bread, eggs, etc) increase in price well over 10% in the last several months. From last year to now, perhaps closer to 20%... at least in Alberta anyway. When the Government publishes a -0.9% inflation, I do not know what they are "smokin" but it is not reality. Anyway, given the inflationary pressures, it is only a matter of time when interest rates will rise... when and by how much, who knows. However, we do know that interest rates cannot go any lower. What about the late 70's and early 80's when interest rates were over 20%? Did the economy collapse then? Our society seemed to have managed through those times... You are correct in that no one knows for sure what the future holds. One can do all of the economic technical analysis one wants, but the human (i.e. government, special interest groups, and specialty people) intervention variable is difficult to predict. Cheers, Sam
All very good points Sam....but the difference this time around is : Back in the 70s/80s there was very little credit to no credit...credit cards didnt start until the early 70s, you couldnt lease a car....people were cash poor but asset rich (so to speak) and the government didnt have strains on budgets.... When we fast forward to...today the single biggest issue we face is HIGH DEBT ratio. Currently both CDN and the US face the LARGEST debt per person in our entire history...you couple that into a growin aging population (baby boomers) which will strain health care....plus OUTSOUCING of most decent paying high waging jobs, and no we have a reciept for some issues. I think everyone is so worried about interest rates going up, that this will not be an issue....will they increase...a tad yes....but the single biggest threat i still forecast is higher taxes....not interest rates...case in point (BC and Ont) getting ready for the HST....in Ontario we are talking about the smart hydro units on homes....fuel cost....and on, and on Also, look at the CDN $$? Its almost par....everytime interest rates increase, our dollar will get stronger...this will continue to hurt industry here at home (cars manufactured, lumber) all for export...it may help you buy you Chinese made gloves at Wal mart for $1.29, but if we dotn have a job, its pointless. All im saying is, dont fear interest rates going up anytime soon....fear our taxes...cause all these guys are cooking the books ...something is gonna give. Cheers Amigo !! VASCO....i promise i will make it out before xmas to see you...let do lunch...PM when your free
Talked to some more big shot bankers, 20% down payment to avoid some premiums made me cringe...House prices hopefully will go down or else no shame but I will be buying a townhouse not a fully detached.
No shame in that - living beneath your means is key. Consider renting - crunch all numbers vs. buying including taxes, repairs, maintenance, real estate comissions in and out, closing costs, mortgage fees, insurance, utilities, etc. etc. and you may find purchasing just mean you are renting from the bank with a lot of extra headache. Especially if you 1) have to move for another job you can't just give notice 2) something breaks 3) you get crappy neighbours. I lived in a semi with a huge chunk down and only moved after it was paid off - and then some. If you live beneath you rmeans it makes it easier to have choices instead of obligations you need to jump through hoops for. Time is on your side. Consider renting depending on where you are going in the next 5 years. There are surprises to learn along the way with ownership too like fees for discharging your mortgage when you sell (unless you pay attention before signing up) and move, land transfer taxes, the fact you pay interest mostly for the first 5-7 years, considering the average family moves every 5-7 years it all adds up pretty quickly but people don't calculate the real numbers. They just compare rent$ vs. mortgage monthly$ and forget about everything else. House ownership is a mistake for a lot of people IMHO it's a mind game for most.
Would prefer not to rent mainly own a house. Personal reasons of course and could be a good investment. My parents house has increased in price by approx 50% of its original price within 5 years, currently worth about 150% of what we bought it for. I would like to get a property under the belt, $200-$300k town home paid off under a decade. Hopefully I don't confuse anyone but there is a girlfriend that will provide as well but I would like to be able to securely live by myself just in case. Checking the markets hot damn, looks like St.Patties day out in the States. Dollar still dropping while Gold is shining. Does anyone know the income tax brackets and what not? Please contact me if you do very very brief question, thanks!
Good luck with that, Tom. I don't understand anything about this kind of stuff, but it certainly seems exciting to be buying a house!
Good News today....WIND Mobile has finally gained a spot in the Canadian Telephone industry. That means they will compete alongisde Bell, Telus, and Rogers for Wireless service in Canada since WIND has bought its own Radio Spectrum from the Goverment. Maybe we will finally get some better service and lower prices!!