Don’t Worry, It’s Transitory

19 Replies to “Don’t Worry, It’s Transitory”

1. If you need to get financing for toys, you can’t afford them.

   1. Rusty: I know of a couple with two middle class incomes, and kids, who bought a new $230k+ Nautique surf and wakeboard boat in the summer. They got a good deal but they had to get a mortgage for the boat. Is that what you meant by Financing? Self control versus “We’re here for a good time not a long time”.

2. A friend of mine bought a house on somewhat large property in this area a couple of years ago for $1.2M. Almost $200,000 over asking.

   The variable interest rate she’s paying has nearly doubled in those two years. She’s feeling the pinch. I imagine many of these properties are in the same boat.

3. Most of the ‘cottages’ are actually luxury homes. Owning two homes is a luxury. But there is a housing crisis – people who don’t even have one home, let alone two or more…

   1. Bruce
      There is NO housing crisis, there is a governing crisis.

      1. Housing crisis… more correctly an immigration crisis precipitated by the current Liberal gov when Trudeau announced Canada is the first post-national state. At that time few knew what he meant and assumed it was just Trudeau gibberish . What he actually meant was open boarders for anyone to enter into Canada and immediately begin receiving welfare.

4. I hope my ex’s new motorcycle bankrupts the miserable little troll! The ex would be in the cluster of numbers to the right of Lake Simcoe’s little dangling dongle there.

5. But this is all in Canadian Loonies … Right? Hahaha ha ha ha ha … Freeland and PM Socks in Pussy have crushed your dollar.

6. If you are willing to live outside major centers you can still get very nice homes for well under 400k, which with down payment would run you under 2k per month mortgage.

   While many may have leveraged themselves too much, the goal of record setting rate increases still remains the same – to destroy the wealth and economic security of individuals in western nations and of the nations themselves.

   Our inflationary environment is caused to a great degree by too few goods, too many regulations and the carbon taxes.

   Raising interest rates does no solve any of those – it will however destroy livelihoods, savings, businesses etc while pretending to try to quell inflation.

   Cut taxes, regulations, and incentivize production and inflation will drop dramatically – but that is not the goal.

   1. If you live outside a large center you’ll make minimum wage working at the local gas station or coffee shop. That doesn’t really do much if you have to pay 400k for a house there. There is a reason people live where they can get jobs.

      1. That was a quick number I threw out Rusty – further research shos plenty of homes for 250k and less in prairie province major centers – and plenty for under 200k just 15 min outside of those. small bungalows, but if you want to own a home its hardly out of reach.

7. “Our inflationary environment is caused to a great degree by too few goods, too many regulations and the carbon taxes.”

   Inflation is a feature, not a bug, of central banking and usury.

8. Not a hundred percent certain but some of those homes on Lake Simcoe are on First Nations territory and come with a 99 year lease (the islands within the lake for sure).

9. Any bets on how much personal wealth Trudeau and his Liberal cabinet has increased since 2015?

10. The housing market in the Calgary area seems to have cooled off a bit since last month. I see many of the listings with “reduced” in them. There is a house at the end of my block that is for sale for $450k that has an illegal suite in the basement and still all the old cupboards and kitchen from when it was built in the 80’s. Normally, it would be sold by now, houses were selling in the 24-48 hr range, here. There was a nicer house, right on the canals, at the other end of the block, completely re-finished for only $530K. It sold in 24 hrs. The people that were renting the house at the end of the block, that is now for sale, went into Calgary to look for a house to buy, they went to open houses that had at least 20 people waiting in line to tour it!

    Id also posit that at least 40-50% of all houses in my neighbourhood have been sold and bought within the last 2 years, the turn over has been crazy. Wondering where the people are going, USA, Mexico??

    People are over leveraged and the market is overblown, if they cant afford a house at only 5-6% interest. We lived in Edmonton back in the reign of Turdeau the 1st, when interest rates were 21% and they were attacking our industries with the NEP, etc. back then.

    Wexit!

11. I recently took a family driving trip from the west coast to Hinton Alberta and back. The biggest thing the missus and me noticed, were the number of for sale signs on every leg of the trip. I suspect this will slowly get worse. Another biggie I noted, was that on the west coast Sunshine coast, (my hometown) Gas was $207.9 a liter, and in Hinton Alberta, it was $141.9!

12. Totally off topic but the perch are committing suicide on Simcoe right now….;^)

13. Winnipeg seems to be behind the times but probably not for long. My daughter is trying to buy a house, but is being routinely outbid by $20 to $40K over asking. This has happened with 5 houses in a row. And not mansions. The last one was a 1000 square foot 2 bedroom, 1 bath. I have been told that this is being driven by money from Ontario buyers, but I suspect this will ease up once mortgage rates hit 7%. My advice to her is to wait til spring and look for motivated sellers.

14. L – When Harrington Lake’s sale price drops. Then we’ll know, even the price of politutes has declined, too.