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Central Okanagan housing market thread

The forum's Skid Road. DO NOT ENTER unless you're ready for a squabble.

Re: Central Okanagan housing market thread

Postby Ka-El » Jan 13th, 2018, 9:38 am

forum wrote: This housing crash is epic. So much writhing and pain happening right now.

:135: What universe are you in? Where is this happening?
“One of the biggest challenges we have to our democracy is the degree to
which we don’t share a common baseline of facts” - Barack Obama 2018

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Re: Central Okanagan housing market thread

Postby jsytnick » Jan 13th, 2018, 9:46 am

forum wrote:The sentiment has changed.
And this person is right. Many people aren't becoming richer from their Real Estate assessments, they are just paying more taxes and insurance.

More trolling...

http://www.cbc.ca/beta/news/canada/british-columbia/bitcoin-cryptocurrency-real-estate-victoria-uplands-1.4484549



Higher assessment doesn’t correlate to higher taxes unless it went up disproportionately to other properties but I’m sure you didn’t know that as you’ve never received an assessment.

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Re: Central Okanagan housing market thread

Postby generalposter » Jan 13th, 2018, 10:25 am

lightspeed wrote:The creature isn't trolling. It has mental health issues.

I can't believe any of you bother to engage it. Every time you do, you feed it. You make it think it's existence here is credible.

It's not even legit bickering. It's the ramblings of the insane. A sick twisted mind. They make TV documentaries about people far less messed up than Forum. Experts try to prod their minds to learn and the dark recesses of human behaviour.

If mortgage brokers, bankers, or realtors start to go missing around here, you all know who's door to start knocking on.....

Anyway this thread is utter nonsense. The creature returns and verily pukes out posts machine gun style, like a dog crapping out spicy old leftovers. Only 1% of the content is about real estate. If I wanted to discuss RE I would engage friends, business acquaintances, and professional associates. Castanet is full of people with the IQ of a for sale sign. Obvious exceptions apply (you know who you are).

I repeat, dragged down to the level of gibberish and utter nonsense.

Good day.


Upon whom did you exorcise this inherent anger before you slithered in here? All your childish insults are only describing yourself... a blatherskite.

By the way, Forum's posts are far more on topic than any of yours. Enjoy your day and try to keep calm. :130:

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Re: Central Okanagan housing market thread

Postby Jonrox » Jan 13th, 2018, 10:50 am

This “cowboy investor” craps on real estate for only one of two reasons...

1. He’s scared... which is surprising because he’s such a cowboy.
2. He can’t afford it.

He can go on and on in the cryptocurrency thread about what a cowboy he is, but it’s obvious he’s into it for just a few bucks.

Quite the “cowboy” who is so scared of an investment that almost 80% of Canadians hold. You’re a real risk taker small fry.
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Re: Central Okanagan housing market thread

Postby forum » Jan 13th, 2018, 10:56 am

W105 wrote:tips to make your day better Lightspeed...

put some booze in your coffee..

and stay out of this thread..

(but you do get 10 points for the "like a dog crapping out spicy leftovers"....hahahaha)


I'll share a trick with you to :

Large mug.
Start with 3 parts spirit, 1 part coffee.
Mug gets half full, dilute with more black hot coffee.
Repeat until coffee tastes like your regular coffee and you have a decent buzz.
Finish the morning chopping wood.

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Re: Central Okanagan housing market thread

Postby forum » Jan 13th, 2018, 11:12 am

Jonrox wrote:This “cowboy investor” craps on real estate for only one of two reasons...

1. He’s scared... which is surprising because he’s such a cowboy.
2. He can’t afford it.

He can go on and on in the cryptocurrency thread about what a cowboy he is, but it’s obvious he’s into it for just a few bucks.

Quite the “cowboy” who is so scared of an investment that almost 80% of Canadians hold. You’re a real risk taker small fry.


80% of Canadians are risk takers? Doubt it.

In the next 18 months half of Canadians mortgages are up for renewal. With interest rates marching higher and higher, we'll see how those 'risk takers' feel when they renew won't we?

https://betterdwelling.com/bank-of-canada-half-of-canadian-real-estate-mortgages-will-renew-by-next-year/

And remember Jonrox, Over half of Canadians are $200 or less away from not being able to pay bills.

https://globalnews.ca/news/3434447/over-half-of-canadians-are-200-or-less-away-from-not-being-able-to-pay-bills/

It's just math. The best strategy most Canadians can think of to save themselves from the inevitable is to try and beat up Telus and Shaw to lower their monthly cable bill. LOL. Pathetic.

Does it piss you off or something that my Cryptocurrency portfolio has exploded while Canadian Real Estate withers away?
I guess everyone gets a turn at feeling the 'wealth effect' once in their life don't they?

The difference between a recent cryptocurrency holder like myself and a recent mortgage holder is that I can simply cash out now, and nothing in my life changes except my bank account. Most Canadians can't/aren't selling their homes and taking profits, they are pulling out HELOC's to touch their wealth gains. This is simply gambling with more debt that they are taking on. They risk losing their home in the chance they can't sell the home and payoff the HELOC. This happens more than you think.

I am seeing 1000% ++ gains in as little as 6 months, a mortgage holder over 25 years MIGHT see 8% gains on their property when they factor in the carrying costs.

Good luck getting wealthy climbing the old crusty and poorly built Canadian Real Estate ladder. :130:

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Re: Central Okanagan housing market thread

Postby lightspeed » Jan 13th, 2018, 11:16 am

generalposter wrote:
lightspeed wrote:The creature isn't trolling. It has mental health issues.

I can't believe any of you bother to engage it. Every time you do, you feed it. You make it think it's existence here is credible.

It's not even legit bickering. It's the ramblings of the insane. A sick twisted mind. They make TV documentaries about people far less messed up than Forum. Experts try to prod their minds to learn and the dark recesses of human behaviour.

If mortgage brokers, bankers, or realtors start to go missing around here, you all know who's door to start knocking on.....

Anyway this thread is utter nonsense. The creature returns and verily pukes out posts machine gun style, like a dog crapping out spicy old leftovers. Only 1% of the content is about real estate. If I wanted to discuss RE I would engage friends, business acquaintances, and professional associates. Castanet is full of people with the IQ of a for sale sign. Obvious exceptions apply (you know who you are).

I repeat, dragged down to the level of gibberish and utter nonsense.

Good day.


Upon whom did you exorcise this inherent anger before you slithered in here? All your childish insults are only describing yourself... a blatherskite.

By the way, Forum's posts are far more on topic than any of yours. Enjoy your day and try to keep calm. :130:


Good word. I approve. Your Google powers are strong. Good attempt to give the impression of intelligence, but ultimately, futile.

Are you Forum's roommate?
"Why does everyone in Kelowna act like they're in Hollywood"

A hermit; a recluse; one of the Okanagan "hill people"

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Re: Central Okanagan housing market thread

Postby jsytnick » Jan 13th, 2018, 11:18 am

I will admit that forum has been fairly correct with his crypto investing, I underestimated the demand or potential when bitcoin was being mentioned as a dark web currency in articles years ago. However, his anti real estate stance and regurgitation of Garth Turners blog has been way off the mark as far as Okanagan real estate is concerned. Maybe he should stick to what he knows because it’s been painfully obvious he hasn’t a clue about the drivers of the local housing market.

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Re: Central Okanagan housing market thread

Postby Jonrox » Jan 13th, 2018, 4:52 pm

From the link forum recently posted...

The BoC believes the renewals would be “manageable for most.” Specifically, they cited higher income, and more home equity at the time of renewal to be mitigating factors. Additionally, if you renew in the next year, there’s a good chance you’re locking in rates better than you did 5 years ago. More equity, higher income (hopefully), and lower rates are a likely scenario for almost half of the country’s borrowers.


Nice to see that forum still sucks at posting links that support his real estate predictions.
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Re: Central Okanagan housing market thread

Postby forum » Jan 13th, 2018, 10:10 pm

Foreigners are banned from buying property in New Zealand — Canada should do the same


http://business.financialpost.com/personal-finance/mortgages-real-estate/foreigners-are-banned-from-buying-property-in-new-zealand-canada-should-do-the-same


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Re: Central Okanagan housing market thread

Postby W105 » Jan 14th, 2018, 7:06 am

Canada's advisers reveal their best suggestions for managing your money in 2018

"Have them save 10 per cent of their T4 income first, and enjoy spending the rest." (note: The T4 is a tax slip documenting how much gross income you were paid by an employer)
-Barry Rebuck, adviser


"Have them learn to live on 80 per cent of their after-tax income and save the rest for retirement."
-Brenda Antonyshyn, chartered financial analyst (CFA)

"Have them live below their means. Simplify their financial lives and stop trying to keep up with the Joneses. The Joneses are in debt."
-Cheryl Campbell, certified financial planner (CFP)

"To have them ensure their cost of living never exceed their actual revenues."
-Mathieu Joubert, certified public accountant

"Understand that FOMO – fear of missing out – is driving many of your money decisions."
-Meghan Chomut, CFP

"Don't fall into the trap of using your home equity line of credit as your personal ATM. Budgeting instead of borrowing. Understand the real cost of 'buy now, pay later.'"
-Karen Sage, CFP




"Stop spending money you don't have to buy crap you don't need to impress people you don't know."
-Robert Gignac, financial industry speaker and author

"Plan for the unexpected. Life will throw you a curve ball – new roof, sickness, disability, etc."
-Angel Georgijev-Low, CFP

"Understand that paying off debt is the only guaranteed positive rate of return."
-John Harvey, manager of public investments at Nunavut Trust

"If I could change one thing about how Canadians manage money, it would be invest in themselves before investing in a portfolio. The greatest return is an investment in your skills and your greatest earning power comes from those skills. Invest in yourself first and allow the dividends from that investment to fund your portfolio."
-Lampros Parousis, private client wealth adviser

On the role of housing in your investment planning:

"Understand that an investment in real estate is NOT guaranteed to go up."
-Amandeep Sangha, CFA

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Re: Central Okanagan housing market thread

Postby LANDM » Jan 14th, 2018, 7:32 am

W105 wrote:Canada's advisers reveal their best suggestions for managing your money in 2018

"Have them save 10 per cent of their T4 income first, and enjoy spending the rest." (note: The T4 is a tax slip documenting how much gross income you were paid by an employer)
-Barry Rebuck, adviser


"Have them learn to live on 80 per cent of their after-tax income and save the rest for retirement."
-Brenda Antonyshyn, chartered financial analyst (CFA)

"Have them live below their means. Simplify their financial lives and stop trying to keep up with the Joneses. The Joneses are in debt."
-Cheryl Campbell, certified financial planner (CFP)

"To have them ensure their cost of living never exceed their actual revenues."
-Mathieu Joubert, certified public accountant

"Understand that FOMO – fear of missing out – is driving many of your money decisions."
-Meghan Chomut, CFP

"Don't fall into the trap of using your home equity line of credit as your personal ATM. Budgeting instead of borrowing. Understand the real cost of 'buy now, pay later.'"
-Karen Sage, CFP




"Stop spending money you don't have to buy crap you don't need to impress people you don't know."
-Robert Gignac, financial industry speaker and author

"Plan for the unexpected. Life will throw you a curve ball – new roof, sickness, disability, etc."
-Angel Georgijev-Low, CFP

"Understand that paying off debt is the only guaranteed positive rate of return."
-John Harvey, manager of public investments at Nunavut Trust

"If I could change one thing about how Canadians manage money, it would be invest in themselves before investing in a portfolio. The greatest return is an investment in your skills and your greatest earning power comes from those skills. Invest in yourself first and allow the dividends from that investment to fund your portfolio."
-Lampros Parousis, private client wealth adviser

On the role of housing in your investment planning:

"Understand that an investment in real estate is NOT guaranteed to go up."
-Amandeep Sangha, CFA


All sensible and what should be common sense.

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Re: Central Okanagan housing market thread

Postby Ka-El » Jan 14th, 2018, 8:05 am

W105 wrote: "If I could change one thing about how Canadians manage money, it would be invest in themselves before investing in a portfolio. The greatest return is an investment in your skills and your greatest earning power comes from those skills. Invest in yourself first and allow the dividends from that investment to fund your portfolio." -Lampros Parousis, private wealth adviser.

Great advise that forum would be well-served to heed instead of chasing Ponzi schemes.

Hope you get out in time lil cowboy. :smt045
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which we don’t share a common baseline of facts” - Barack Obama 2018
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Re: Central Okanagan housing market thread

Postby Bman » Jan 14th, 2018, 8:07 am

I don't think he even got in...
Is the world getting stupider, or is it just getting easier for stupid people to have their thoughts heard?

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Re: Central Okanagan housing market thread

Postby forum » Jan 14th, 2018, 8:22 am

I'm in. Big time now. I have no problem with commitment.

I have already achieved all of the advice by those adviseurs on W105's list.

I especially liked the last one on W105's list. So true.

More than half of Canadians won't realize any profit on their real estate in their lifetime. I don't know why they spend so much money on such old and decrepit homes made of cheap plywood, insulation and drywall. The land too, is Rutland really paradise? LoL.

As the Canadian housing crash continues, people are just going to continue to get financially punished for loading up on so much debt and tapping their HELOC. The pain and suffering will be heard all across Canada.


Mortgages won't be only problem for many Canadians as rates rise


In recent years, home equity lines of credit — or HELOCS — have become popular among homeowners eager to turn their eye-popping house price gains into usable cash.


They're not a tiny slice of the market, either. There are about three million active HELOCs across Canada, with an average balance of about $70,000, the Financial Consumer Agency of Canada warned last month.


Bring on the rate hikes Bank of Canada! Yeeeeehaaaaaaw!

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