I agree with your trading info but not this poker tidbit. Playing bad cards well is how you win.
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I agree. I’d love to buy property, hold it for ten years and sell at a profit minus ten years of taxes and upkeep. Unfortunately, with real estate going up faster than income, that takes a lot of cash today. Fixing up the house - excellent! But it doesn’t bring income. Rentals can be a gamble. Aside from taxes and upkeep, the management takes 10% min. off the top. A bad management company can ruin you in several ways. Same with bad tenants. You have to stay on top of rentals.
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Hmmmm…I thought I said that in my long winded way. Anyway I agree with you.
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Yes possibly. Like shorting something I guess.
Oh and interest rates are going to go up up up
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Now is a terrible time to buy. If I had cash to play with I’d wait until the next market contraction.
My house appreciated like 40% in a couple years. It’s way overvalued.
I do see small and mid size midwestern cities as the place to invest in. People are going to keep fleeing expensive cities and they’re gonna end up here.
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This is the case here too. I live in a major centre and even small towns 2 hours away are booming because anywhere near the city is totally unaffordable.
I wish them luck when they start having to go back to the office.
Million dollar shitholes in the Styx.
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Pandora’s box has been opened with remote work.
It can’t replace every job, obviously, but a big chunk of them.
Not saying buy a house on the shores of Great Slave Lake but anywhere “reasonable” weather wise that’s not a total hick town that’s still cheap is the bet I’d make. I keep reading about y’all’s housing crisis lol makes ours look tame by comparison. In a nearly empty land covered in building materials aka “wood”. Boggles the mind. Big chunks of the US are practically empty but Canada is a whole 'nother level.
Global warming is already happening, Canada actually stands to benefit immensely IMO.
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I love being middle class or lower, as soon as your wealthy you get lazy.
I got quoted 2000 cad to remove a large 40foot tall multi trunk tree from my back yard…I’ll tell you what I might have spent 10-15 hours working on it over the summer but that was 2000 I got to keep for rent even with $20 of premium gas I spent on the project
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Like the guy with a boat in his driveway, the $55,000 truck kept in the garage with a the Ski-do, racing bike and weights never used. In the house new marble counter tops, mega-huge TV with 5 subscriptions. A new iPhone for everyone in the house, vacation in Italy, etc etc. Credit card debt for $40,000 and complains, “I don’t know where all the money goes?”
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Remote work does change the terrain quite a bit. But a lot of places will be demanding a return to the normalcy of the office. Stuffy and outdated? Yes. But not everyone is embracing it.
I cruise realtor.ca often and try to rationalize “sure I could live here if it’s cheap…oh look it’s not even cheap.”
You have to drive up to the arctic tundra to find something affordable.
There’s a town called Timmins which is not drivable but they do have regular air service because it’s a mining town. Again I do the math “well I have to go back to the city once a month that’s X dollars on airfare” but a house is 100k.
Is it worth it? I dunno.
But I, like you, am looking forward to the next contraction.
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I don’t know if I’d want to remove that tree myself but on big projects like that I like to think to myself “I’m getting paid $500 and hour to do it myself.”
Shit you live far enough out in the sticks it becomes a luxury unto itself. It’s expensive living decently in the middle of nowhere with no municipal water/gas/electricity unless you live like Ted Kaczsynski
Septic systems, wells, etc. don’t grow on trees lol. What’s a heating bill even look like in Yellowknife? Consumer products are sooo expensive up there in middle of nowhere too.
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I do a cost benefit analysis anytime I think about DIY work. I can always save a buck but “what happens if I grossly fuck this up?” lol. Landscaping I got all day, anything water or electric or precision based I steer clear from haha.
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I personally wouldn’t buy a house to rent. I make home service calls and have for over a decade. The way renters treat houses is insane!! Plus you got fixes, property taxes, risk of renters not paying, bad property management, along with a slew of other shit to go wrong.
Market took a dump and you can’t afford the mortgage on it anymore and your renter isn’t paying? Too bad.
At least with bitcoin, I can buy however much with whatever money i currently have. I don’t need to go into debt to buy it. I can sell it and have the money in my account in a couple days. No property taxes on it. No upkeep. Just transfer it to my “cold storage” hardware wallet, and do nothing else until I’m ready to sell.
The market rewards those who are patient. Buy some bitcoin or ethereum and just hang on to it for as long as you can.
Bitcoin is secured by the decentralized network of people around the world running a node. It’s backed by math/encryption. And it’s a finite resource. So no one can “print more bitcoin” like what is happening to the USD today.
I agree, it’s confusing, and not for everyone. But for me, it’s the best option to park my net worth.
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I’ll have to agree, I do definitely factor in will this damage or hurt anyone/thing.
An example I dug a trench from my gas metre to my garage so a professional could lay the gas line and connect my garage heater but I saved 600+ for the trench(cost of heater)
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It’s true. That shit costs money.
But relative to property taxes I don’t know.
People bitch about condo fees but forget that houses need new roofs once in awhile. It sort of evens out.
Houses in Yellowknife are not cheap. I just looked and saw a 2 bed 1 bath condo for 350k
It’s really mental up here. Don’t get me wrong. I like where I live, and am generally happy real estate wise. I only wish I had a yard and a basement.
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Water and electric I can do within reason. I know enough to know when I shouldn’t touch something. Precision, nope.
Home Depot quoted me $2000 to paint the front of my old 3 story house. Fuck you I said.
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Wow, $1500 on vacuums? I still have my $400 dyson from 10 years ago, with maybe another $200 in maint.
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I did exactly the same thing except with sewer lines. Saved me 4K
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