# Lounge > Real Estate / Finance >  Debt vs Savings

## 89coupe

Just saw this on Twitter, holy fuck.

https://twitter.com/grdecter/status/...yI3WfjqlYk80ig

This is not oil, a meme stock or even a shitcoin. Its credit card debt in America.

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## ThePenIsMightier



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## vengie

This isn't news... 

The average Canadian spends $1.80 for every dollar they earn. 
It's only going to get worse as inflation continues to ramp.

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## Buster

I'm trying to think of a term that allows borrowers and lenders to agree on a reasonable cost of capital such that this phenomenon will equalize in an efficient manner.

What is that term again? I forget.

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## ExtraSlow

Subsidy?

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## suntan

Builder grade graph.

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## Twin_Cam_Turbo

Not even remotely surprised they way people seem to spend.

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## bjstare

Iirc Canada is even worse than the USA for debt/income.

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## ThePenIsMightier

> This isn't news... 
> 
> The average Canadian spends $1.80 for every dollar they earn. 
> It's only going to get worse as inflation continues to ramp.



Inflation is a racist construct of the patriarchy, Comrade.
What you're seeing is corporate greed.

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## Disoblige

Let us all rejoice and be thankful many of us are not like this.

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## ThePenIsMightier

> Let us all rejoice and be thankful many of us are not like this.



Amen.
I bought 2 pairs of kids shoes at Sport Chek and they asked if I wanted to stretch those payments over the next year because it was over $100 or something.
I sure am grateful that I'm not stuck in that boat.

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## bjstare

> Let us all rejoice and be thankful many of us are not like this.



The stats would say otherwise.

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## ExtraSlow

I blame high real estate transaction costs.

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## killramos

I blame Canadians being complete and utter morons.

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## vengie

I blame all the Canadians who racked up $tensofthousands in student loans to graduate with a sociology or liberal arts degree only to find they aren't employable aside from being barista at Starbucks. Ironically these are the same people voting for Trudeau who is making their lives worse.

Make better choices Canada.

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## 89coupe

> I blame high real estate transaction costs.



How else can they afford all their fancy cars, big homes and first class vacations.

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## mr2mike

This would lean me to pick up some V or MC but I think with so many people with high debt, when the day comes it's going to put the lenders overboard.

Guess I figured out how there's so many people at Disneyland daily.

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## killramos

I don’t think Visa or Mastercard gets much of a taste of income from balances.

That would be the banks offering the card.

Visa makes money on transaction fees. If anything sky high balances would lead to fewer visa transactions when cardholders can’t use their maxed out cards.

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## ExtraSlow

V and MC are not even the lenders, it's the perfect business.

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## vengie

I have and will continue to be invested in V and MC for for the long term

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## Buster

> I have and will continue to be invested in V and MC for for the long term



They might get arb'd at some point

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## vengie

Tli5?

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## killramos

There is always a cheaper fish

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## Buster

> Tli5?



Credit card companies charge enormous fees to facilitate transactions. But technology is probably capable of facilitating transactions for pennies on their dollar.

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## Misterman

Old news is old. No surprise that people who were already living paycheck to paycheck, started financing their life expenses on credit cards when groceries and gas went up 100%.

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## zechs

The majority of auto loans are at subprime rates. I think the average in Canada was something like 5.99 or 6.99.

This stat was from even when 0% financing was a thing.

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## Disoblige

Financial literacy is one of the first things my kid will be fully competent in as they grow up. There will no zero excuse.

God some people are stupid.

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## Buster

> Financial literacy is one of the first things my kid will be fully competent in as they grow up. There will *no zero* excuse.



what about english tho?

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## Disoblige

> what about english tho?



hahaha.

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## max_boost

> I blame all the Canadians who racked up $tensofthousands in student loans to graduate with a sociology or liberal arts degree only to find they aren't employable aside from being barista at Starbucks. Ironically these are the same people voting for Trudeau who is making their lives worse.
> 
> Make better choices Canada.



If they cute their sugar daddies will take care of them but the rest of them, good luck.

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## Xtrema

> Credit card companies charge enormous fees to facilitate transactions. But technology is probably capable of facilitating transactions for pennies on their dollar.



Or a government funded expansion

aka Union Pay/Alipay

That's why a lot of Chinese businesses and tourist focused business rather transact with these 2 for lower cost.

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## SJW

Does this mean there will be a lot of Can Am Commanders on the cheap in the spring? I think I need one.

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## Xtrema

Also they have been there before, this isn't something new.

And consider $1 in 2008 is worth $1.33 today, the graph should be 33% higher.  :Big Grin: 

Bernanke just got a Noble prize for QE. Who's going to get one out of this recession?

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## tonytiger55

On a side note. If anyone has credit card debit and is worried. If the credit card is with a bank, go to the bank (this can be done at the teller) and ask to switch the card to a low interest credit card. 
Most instiutions have one. Flipping it over is free and just requires a signature. The card will have a small annual fee like $30 or something. But when you factor in the interest rate and savings, its nothing.

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## SJW

> On a side note. If anyone has credit card debit and is worried. If the credit card is with a bank, go to the bank (this can be done at the teller) and ask to switch the card to a low interest credit card. 
> Most instiutions have one. Flipping it over is free and just requires a signature. The card will have a small annual fee like $30 or something. But when you factor in the interest rate and savings, its nothing.



As soon as they offer Halal mortgages im converting to Islam.

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## tonytiger55

> As soon as they offer Halal mortgages im converting to Islam.



https://eqraz.com/our-halal-mortgage/

They offer Halal mortgages in Canada.

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## suntan

I was thinking opening a halal mortgage business might be viable.

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## taemo

which has better rates, halal mortgage or kosher mortgage?

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## JRSC00LUDE

> which has better rates, halal mortgage or kosher mortgage?



I feel like there's a Kanye West joke in here.

Also WTF is a Halal mortgage?

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## killramos

> I feel like there's a Kanye West joke in here.
> 
> Also WTF is a Halal mortgage?



Sky daddy says interest is haram.

So some “sharia lawyers” found a workaround.

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## suntan

> Sky daddy says interest is haram.
> 
> So some “sharia lawyers” found a workaround.



This here.

I firmly believe that the lack of lending is why the muslim world is a backwater hellhole.

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## Buster

> This here.
> 
> I firmly believe that the lack of lending is why the muslim world is a backwater hellhole.



The list of factors is long and distinguished.

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## bjstare

> The list of factors is long and distinguished.



Must spread rep.

Seriously though, TIL there's such thing as a Halal mortgage. Amazing.

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## JRSC00LUDE

> Must spread rep.
> 
> Seriously though, TIL there's such thing as a Halal mortgage. Amazing.



Like Government, if there's a way for religion to exploit it for profit they most certainly will.

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## Xtrema

> As soon as they offer Halal mortgages im converting to Islam.



Isn't lease to own technically halal?

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## suntan

> Isn't lease to own technically halal?



Yes, but lease to own has better terms.

- - - Updated - - -




> The list of factors is long and distinguished.



This is the main one though. Creates permanent class stratification.

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## SJW

> Isn't lease to own technically halal?



Any way you spill it if the mainstream canadian banks are offering interest free loans I will be considered a muslim. Just sayin.

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## Buster

> Any way you spill it if the mainstream canadian banks are offering interest free loans I will be considered a muslim. Just sayin.



yes, you just need to go in and ask for a halal loan, and they defer the interest

brown-ish face paint helps.

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## SJW

> yes, you just need to go in and ask for a halal loan, and they defer the interest
> 
> brown-ish face paint helps.



Like Far right brown paint or Trudeau face paint? The shades are different.

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## brucebanner

> what about english tho?



 :ROFL!: 


Edit: apparently demand is on the rise as well

https://www.ctvnews.ca/canada/muslim...erts-1.6128192

For many prospective homebuyers in Canada, obtaining a mortgage can be a challenge due to elevated home prices. But for members of Canada’s Muslim community, those looking to purchase a home may be faced with an additional barrier – securing a mortgage that aligns with their faith.

Shariah, the body of Islamic religious law, prohibits the use of riba, otherwise known as interest charged on loans. As a result, conventional mortgages offered by Canadian banks, which charge clients interest, are not considered Shariah-compliant, or halal.

Mohamad Sawwaf is the co-founder and CEO of Manzil, an Islamic financial institution based in Toronto. Because major Canadian banks do not currently offer Shariah-compliant mortgages, this leaves many members of the Muslim community “financially excluded” from obtaining one, Sawwaf said.

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## zechs

> Financial literacy is one of the first things my kid will be fully competent in as they grow up. There will no zero excuse.



And what financial literacy will you teach them?

I've been able to do some pretty amazing things in my life by utilizing credit. Some could definitely argue irresponsibly in fact. But I never did so to the point I was anywhere close to screwed.

How long should satisfaction be deferred in the name of responsibility? I notice little difference between savers and overspenders. Overspenders usually have nicer things (bought on credit). Is that "worth" it? To them it may be.

These are all value judgements. There is no right or wrong to how much interest you pay being silly or not.

The binary is saving or spending, as pointed out in a later post, credit helps get rid of class stratification. This is done on the basis of risk.

I'd say as long as you are saving appropriately for how you want to live in retirement, go ahead and max that shit out if you want. Have a plan to have it all paid for by the time you retire.

Life is too short and too complicated to think that by sacrificing certain pleasures a person is going to magically be rich (interest rate debate is the upper class version of "you'll be rich if you don't have that starbucks everyday") The pandemic really highlighted this.

TL;dr - Cashflow is king, nothing else matters

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## Buster

Credit doesn't reduce class stratification simply because it allows for upgraded consumer spending.

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## suntan

> I'd say as long as you are saving appropriately for how you want to live in retirement, go ahead and max that shit out if you want. Have a plan to have it all paid for by the time you retire.



Yeah dude like maybe 10% of Canadians save enough for retirement.

- - - Updated - - -




> Credit doesn't reduce class stratification simply because it allows for upgraded consumer spending.



But of course it does. You can't even have an operating LOC under Sharia law.

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## zechs

> Yeah dude like maybe 10% of Canadians save enough for retirement.



We can definitely have a conversation about retirement savings, a much more worthwhile discussion IMO as that is the end goal typically.

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## flipstah

Gotta do Shaq savings,

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## jutes

> Because major Canadian banks do not currently offer Shariah-compliant mortgages, this leaves many members of the Muslim community “financially excluded” from obtaining one, Sawwaf said.



And on the 7th day, Jesus said, thou shall not pay interest on mortgages.

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## ExtraSlow

In this world, nothing is free. if there's not explicit interest being paid, there's going to be some other mechanism that ensures the profits of the lender. 

My general rule is that boutique or complex financial instruments are rarely beneficial for "average" consumers.

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## Xtrema

> there's going to be some other mechanism that ensures the profits of the lender.



I have seen this documentary on pornhub.

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## ExtraSlow

> I have seen this documentary on pornhub.



I see you have been in the "daddy" tags again.

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## max_boost

> Must spread rep.
> 
> Seriously though, TIL there's such thing as a Halal mortgage. Amazing.



Fascinating.

As for financial literacy, live within your means blah blah you can know this and still do stupid shit lol

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## msommers

Try to keep ~6 months of expenses in savings, and a house upgrade/maintenance fund we contribute to monthly.

I wish I worked for a company that had a pension or RRSP matching. Wife gets 8% match, so jealous.

What percentage of your gross gets put into savings and into retirement? Admittedly I need to put more into retirement savings.

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## Xtrema

> What percentage of your gross gets put into savings and into retirement? Admittedly I need to put more into retirement savings.



I sub to Shaq's way of saving. Pretty rough when I was young but now it's not that hard.

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## max_boost

> Gotta do Shaq savings,



lol you gotta bring in some good coin to do it the SHAQ way

The first rip goes to the govt. The 2nd rip goes to your expenses. Then that's what you have left haha

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## JRSC00LUDE

> Sky daddy says interest is haram.
> 
> So some “sharia lawyers” found a workaround.



I'm glad they can loophole/skirt their way around these sacred and holy teachings when it comes to financial benefit and they aren't just baseless hypocrites like the Catholics. If this keeps up they might even figure out how to stop raping and/or killing women for going outside with an ankle showing, being in public without a man, driving a car, or going out without a headscarf and yet STILL be able to have all that sweet afterlife virgin pussy. Just like those child raping priests who still go to heaven! I never realized how alike these two faiths are, they should really have a meeting.

What a time to be alive (for the male homeowner at least)!




> And on the 7th day, Jesus said, thou shall not pay interest on mortgages.



Wrong fairy tale. 

EDIT - or is it?

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## flipstah

Inshallah my debt goes away

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## you&me

> This here.
> 
> I firmly believe that the lack of lending is why the muslim world is a backwater hellhole.






> I'm glad they can loophole/skirt their way around these sacred and holy teachings when it comes to financial benefit and they aren't just baseless hypocrites like the Catholics. If this keeps up they might even figure out how to stop raping and/or killing women for going outside with an ankle showing, being in public without a man, driving a car, or going out without a headscarf and yet STILL be able to have all that sweet afterlife virgin pussy. Just like those child raping priests who still go to heaven! I never realized how alike these two faiths are, they should really have a meeting.
> 
> What a time to be alive (for the male homeowner at least)!



Bahahaha... I think JRSC00LUDE gets more to the root cause of backwater hellohole. That and the resultant man-on-man affection.

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## suntan

It's easy to keep people subjugated when they're poor.

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## ExtraSlow

Man on Man affection is the SOLUTION, not the problem.

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## JRSC00LUDE

> Man on Man affection is the SOLUTION, not the problem.



Popeimam GO except they're trying to get each other inside a different ring.....

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## Misterman

> Does this mean there will be a lot of Can Am Commanders on the cheap in the spring? I think I need one.




Seems that way. Used car market is trending down already. Recreational toys are the first thing to really crash when the economy tanks.





> Bahahaha... I think JRSC00LUDE gets more to the root cause of backwater hellohole. That and the resultant man-on-BOY affection.




FTFY

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## Misterman

> And what financial literacy will you teach them?
> 
> I've been able to do some pretty amazing things in my life by utilizing credit. Some could definitely argue irresponsibly in fact. But I never did so to the point I was anywhere close to screwed.
> 
> How long should satisfaction be deferred in the name of responsibility? I notice little difference between savers and overspenders. Overspenders usually have nicer things (bought on credit). Is that "worth" it? To them it may be.
> 
> These are all value judgements. There is no right or wrong to how much interest you pay being silly or not.
> 
> The binary is saving or spending, as pointed out in a later post, credit helps get rid of class stratification. This is done on the basis of risk.
> ...




You made a lot of assumptions about what financial literacy is, or what you think he intends to teach his children. 

Debt is just borrowing against your future spending. So all debt is not created equal. Financial literacy does not mean never taking debt. But a financially literate person should know that debt should be utilized for something that creates future earning, as opposed to using it for depreciating assets. That's the only way you avoid a debt trap.

Unless of course you're very rich. Then you finance everything, because your interest earned on principle out paces your interest paid on debt. So it doesn't make sense to pay cash for luxury items that just removes interest earning capital from your net worth.

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## suntan

> Man on Man affection is the SOLUTION, not the problem.



That’s your solution to everything.

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## ExtraSlow



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## ZenOps

Might as well enjoy the money while you still can. There is no point in gathering it all up if you never have a chance to eat it.

Man who kicks the bucket owing $1 million to the banks wins?

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## jutes

> Wrong fairy tale. 
> 
> EDIT - or is it?



Different fairy tale, same mental illness.

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## 89coupe



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## 88CRX

No context.... just how i like my graphs.

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## ThePenIsMightier

> No context.... just how i like my graphs.



It's how I recall ZenOps threads being way back before I learned about the ignore button.

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## 89coupe

> No context.... just how i like my graphs.



Does it really need any?

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## bjstare

> Does it really need any?



Well... yeah. 

If the y-axis units are rods/hoghead, it's a useless graph. Alternatively, if the y-axis is measured in $1000's, it's much more meaningful.

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## ExtraSlow

Yeah, those "percentage change against an arbitrary point in history" kind of graphs are great for storytelling, but there can be mathematical trickery. Luckily I LOVE both storytelling AND mathematical trickery.

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## zechs

> Luckily I LOVE both storytelling AND mathematical trickery.



Didn't you say you like ppt? It's all coming together

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## JRSC00LUDE

> Luckily I LOVE both storytelling AND mathematical trickery.



Can you tell me again about that time you needed a new heel for your shoe and had to go to Morganville?

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## ThePenIsMightier

> Can you tell me again about that time you needed a new heel for your shoe and had to go to Morganville?



He had an onion on his belt.

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## Power_Of_Rotary

> I blame Canadians being complete and utter morons.



*spoiled

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## killramos

> *spoiled



Hush now. The adults are talking.

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## JRSC00LUDE

> He had an onion on his belt.



What colour?

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## brucebanner

> What colour?



White belt, red onion.

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## ExtraSlow

> Didn't you say you like ppt? It's all coming together



I yam what I yam.

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## ThePenIsMightier

> What colour?



Whatever colour was _the style at the time_.

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## JRSC00LUDE

> White belt, red onion.



That doesn't sound right at all!

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## mr2mike

> Whatever colour was _the style at the time_.



And then the opposite.

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## max_boost

> No context.... just how i like my graphs.






> Attachment 109739



Home prices are going up. BUY NOW!!

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## 88CRX

> Home prices are going up. BUY NOW!!



Thought it was more outlining that housing prices are through the roof and due for a crash…. Which seemed off consider who posted them.

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## max_boost

> No context.... just how i like my graphs.






> Attachment 109739






> Thought it was more outlining that housing prices are through the roof and due for a crash…. Which seemed off consider who posted them.



89coupe is interesting. He bet the stock market will crash but won't bet that housing will crash or at least he hasn't said anything here  :Big Grin:   :Big Grin:

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## 89coupe

> 89coupe is interesting. He bet the stock market will crash but won't bet that housing will crash or at least he hasn't said anything here




Unfortunately I don’t believe the housing market in Calgary will crash like it will in Vancouver or Toronto.

You may see a slight pull back but I doubt we will see a crash. 

More specifically, land value in Calgary continues to rise.

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## ExtraSlow

Just like Canadian hockey media is dominated by the Maple Leafs, Canadian real estate values in the media are dominated by Toronto and Vancouver. 

I agree with senor Coupe (say it with a Spanish accent please), Calgary real estate values aren't likely to have much of a correction at all.

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## suntan

Even a 20% pullback is hardly anything in Calgary.

House prices in BC/Ont still need to pull back big time.

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## 89coupe

> Even a 20% pullback is hardly anything in Calgary.
> 
> House prices in BC/Ont still need to pull back big time.



In new homes and newer communities, I doubt you will see that in Calgary, we are still seeing things bought up at the higher interest rates. 

Most of the buyers are from BC and Ontario. It’s still a bargain here for them.

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## suntan

> In new homes and newer communities, I doubt you will see that in Calgary, we are still seeing things bought up at the higher interest rates. 
> 
> Most of the buyers are from BC and Ontario. It’s still a bargain here for them.



Absolutely.

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## Xtrema

> House prices in BC/Ont still need to pull back big time.






$2M to sleep with shitter next to your bed? No shit.

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## bjstare

> Thought it was more outlining that housing prices are through the roof and due for a crash…. Which seemed off consider who posted them.



Unless I'm missing something, realtors don't care if the market goes up or down. They just care if there's transaction volume.

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## max_boost

> Unfortunately I don’t believe the housing market in Calgary will crash like it will in Vancouver or Toronto.
> 
> You may see a slight pull back but I doubt we will see a crash. 
> 
> More specifically, land value in Calgary continues to rise.



True true I wasn't specific haha

I agree

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## Rocket1k78

> Unfortunately I dont believe the housing market in Calgary will crash like it will in Vancouver or Toronto.
> 
> You may see a slight pull back but I doubt we will see a crash. 
> 
> More specifically, land value in Calgary continues to rise.



Agreed. Were the cheapest city by a long shot thats nice to live in. Im seeing lots of ads promoting us, so to think there might be another bump might not be that out to lunch...

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## Xtrema

> Agreed. Were the cheapest city by a long shot thats nice to live in. Im seeing lots of ads promoting us, so to think there might be another bump might not be that out to lunch...



Have a feeling that once recession set in in Q1/Q2, tons of people will start to relocate to Calgary. They have been running on RE for way too long in GTA/GVA.

There are plenty of chatter on social about relocate to Calgary among GTA circle and there are now tons of RE agent doing promo on Youtube about this city.

But the downside(?) is, we may get a NDP government next. Just like Texas hating on all the Liberals showing up.

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## max_boost

> Agreed. Were the cheapest city by a long shot thats nice to live in. Im seeing lots of ads promoting us, so to think there might be another bump might not be that out to lunch...



Was it 2007ish time when GTA and Calgary were kinda close RE wise? GVA was always high. 

But yea move to Calgary and make condo prices great again pls!

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## Rocket1k78

> Have a feeling that once recession set in in Q1/Q2, tons of people will start to relocate to Calgary. They have been running on RE for way too long in GTA/GVA.
> 
> There are plenty of chatter on social about relocate to Calgary among GTA circle and there are now tons of RE agent doing promo on Youtube about this city.



Yep! I really have no idea how people working normal jobs survive in GVA/GTA.

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## Rocket1k78

> Was it 2007ish time when GTA and Calgary were kinda close RE wise? GVA was always high. 
> 
> But yea move to Calgary and make condo prices great again pls!



I'm very surprised condo prices havent jumped yet. These are basically free compared to GTA/GVA and with the massive increase in SFH a lot of local buyers would have no choice but to get a condo. I would totally bet that condos will get a nice increase next year

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## max_boost

maybe too much inventory idk haha back to 2015 levels i am satisfied haha

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## JRSC00LUDE

> Unless I'm missing something, realtors don't care if the market goes up or down. They just care if there's transaction volume.



I also don't give two fucks about the price of the commodity/product/service I am selling, I just care about selling enough of it. 
- signed, every business everywhere

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## max_boost

yes yes. money is my love language too.

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## msommers

Condo inventory will continue relentlessly

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## suntan

> I'm very surprised condo prices havent jumped yet. These are basically free compared to GTA/GVA and with the massive increase in SFH a lot of local buyers would have no choice but to get a condo. I would totally bet that condos will get a nice increase next year






> Condo inventory will continue relentlessly



This. There is an insane amount of condos for sale, and there's more being built.

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## mr2mike

> yes yes. money is my love language too.



Lol

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## Xtrema

> I'm very surprised condo prices havent jumped yet. These are basically free compared to GTA/GVA and with the massive increase in SFH a lot of local buyers would have no choice but to get a condo. I would totally bet that condos will get a nice increase next year



Apparently people who moves are sick of raising kids in apartments. So you probably won't see many singles moving unless their jobs moves or jobless.

And condos are still being relentlessly built, in every community and every price point.

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## ZenOps

Imaginary Quatloos incoming.

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## Rocket1k78

> Apparently people who moves are sick of raising kids in apartments. So you probably won't see many singles moving unless their jobs moves or jobless.
> 
> And condos are still being relentlessly built, in every community and every price point.



I have no idea how you can raise a family in an apartment. I woulda thought there would be more singles or dinks moving here because its an easier move. Had no idea calgarys condo market was this saturated, i still think it will go up a bit though.

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## suntan

> $2M to sleep with shitter next to your bed? No shit.



Thanks, I bid $2.2 million to make sure I get it.

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## CompletelyNumb

People think housing will "crash" in Canada? In any market?

A 20% drop after YoY 20+% gains for a decade is barely a pullback.

Gen Z needs an 50% correction to buy a house at this point in most markets.

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## ExtraSlow

GenZ needs the all the Boomers dead for the intergenerational wealth transfer before they can buy real estate.

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## CompletelyNumb

True. Plus Inheritance is the easiest path to home ownership.

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## JRSC00LUDE

> True. Plus Inheritance is the easiest path to home ownership.



Cue inheritance tax.

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## ThePenIsMightier

> Cue inheritance tax.



That's not how you spell _queue_.

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## ExtraSlow

Excess profits tax.

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## ercchry

> Excess profits tax.



Pass on industry windfall taxes to employees of said industries?

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## ExtraSlow

> Pass on industry windfall taxes to employees of said industries?



Don't be crazy, that money needs to go to carefully selected  cronies  underrepresented demographics

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## Misterman

> People think housing will "crash" in Canada? In any market?
> 
> A 20% drop after YoY 20+% gains for a decade is barely a pullback.
> 
> Gen Z needs an 50% correction to buy a house at this point in most markets.




At the end of the day, interest rates are still the largest determining factor in pricing. With the hikes since just March, that would push my personal mortgage up 500$/month. To swing that to a new buyer perspective, my house would have to drop 100k in value for someone now to come in and buy it for the same monthly payment I have. 

I don't doubt there is a niche group of Ontarions who have made a bunch of equity from owning a home there for 10 years now, and are willing to sell and move to dump ass Alberta. Or non home owners that just want an affordable home and willing to leave their entire life behind to go find it. But to think that this niche group is going to offset the entire RE market in Calgary/Alberta is some wishful thinking to say the least. And when you really think about it, the inevitable crashing real estate market in GTA and Van, is just going to put less pressure on people to leave for cheaper pastures in the first place. 

In the grand macro perspective, it's easy to say that a 20% pull back is NBD in the big picture. But it is most certainly a big deal to anyone that is under water on their mortgage now. And the thing is, we've already seen a near 20% pull back in more expensive homes(locally), and things are just getting started. 70% of mortgages are fixed, and like 80% of those are coming up for renewal in the next year or two. If you have houses flooding the market because owners can't afford to stay in them, and interest rates eroding buyers purchasing power, prices are going to go down.

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## ercchry

> Don't be crazy, that money needs to go to carefully selected  cronies  underrepresented demographics



Sir, I think I may not have been clear in my message… I mean ALSO windfall tax the employees  :ROFL!:

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## Tik-Tok

> GenZ needs the all the Boomers dead for the intergenerational wealth transfer before they can buy real estate.



Isn't GenX, GenZ's parents? So they'll have to hope their parents don't spend all the money GenX inherited by Boomers.

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## JRSC00LUDE

> That's not how you spell _queue_.



A hairlip and voice-to-text were never meant to be joined together. It's not natural, an affront to God.

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## ThePenIsMightier

> A hairlip and voice-to-text were never meant to be joined together. It's not natural, an affront to God.



Now I have to look up what the PC term is for hairlip and try and recall if it's something to do with cleft palate, or not.
When do I finally get to sleep!!?

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## Xtrema

> Isn't GenX, GenZ's parents? So they'll have to hope their parents don't spend all the money GenX inherited by Boomers.



Lol, like there's anything left once they move to assisted living and live til 100. Then GenX will live to 120. This will bankrupt millennials, GenZ get nothing.

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## ExtraSlow

Need less longevity.

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## riander5

> Isn't GenX, GenZ's parents? So they'll have to hope their parents don't spend all the money GenX inherited by Boomers.



Fucking boomers are living so long the GenX'ers are really gonna have to have a coming out party in their 60's and 70's to blow all the cash

- - - Updated - - -




> Lol, like there's anything left once they move to assisted living and live til 100. Then GenX will live to 120. This will bankrupt millennials, GenZ get nothing.



Everyone needs to show their old ass parents hoarding money this book -

https://www.diewithzerobook.com/welcome

My grandpa did it right... double pensions from RCMP and his wife lived till 85, passed away and still owed 2/3 of his mortgage on a condo he'd owned for 30 years  :ROFL!:  - He was livin!

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## phreezee

> Everyone needs to show their old ass parents hoarding money this book -
> 
> https://www.diewithzerobook.com/welcome



Awesome, I'm already pretty close to zero: doin' it right  :ROFL!:

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## riander5

> Awesome, I'm already pretty close to zero: doin' it right



You and me both brotha!

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## ExtraSlow

Full Bucket, Empty wallet.

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## Xtrema

> Need less longevity.



Our system is designed for everyone to pop out 3 kids and don't live past 75.

Instead all the zoomers are already telling dads they won't be grandpas and living to 100.

500K immigrants per year won't fix this.

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## suntan

Improved nutrition and having money compels people to live longer.

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## riander5

> Improved nutrition and having money compels people to live longer.



Fuckers amirite

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## littledan

maybe the government should introduce a universal childcare benefit to encourage professionals and dual incomes to have more children...

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## JRSC00LUDE

> maybe the government should introduce a universal childcare benefit to encourage professionals and dual incomes to have more children...



You get yo' kertytax ass outta here!

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## Xtrema

> maybe the government should introduce a universal childcare benefit to encourage professionals and dual incomes to have more children...



We already do to a degree, each child cost the Fed around $4K/year under CCB:
https://www.canada.ca/en/revenue-age...-your-ccb.html

1 in 5 Adults don't want to have kids. That means if we don't want demographic collapse we have to import like 500k-1m people per year for the foreseeable future. If that's cheaper than paying more for people to have kids? Probably not.

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## suntan

People that make money don't get CCB.

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## Xtrema

> People that make money don't get CCB.



You need to see it thru the lens of Quebecois.

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## zechs

> maybe the government should introduce a universal childcare benefit to encourage professionals and dual incomes to have more children...



As far as I am aware, no 1st world country on earth has ever increased birth rates to above replacement.

We're entering a new age of mankind, I think it's going to be a wild ride.

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## ZenOps

I'm old. Which means I'm voting for more seniors discounts. To expect anything else is just crazy.

https://www.telus.com/en/social-impa...rs/application

They need something like $5/month for 1 gigabit fiber for old people, and free strippers at funerals.

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