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06-07-2023, 12:13 PM
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#26376 | | RS.net, helping ugly ppl have sex since 2001
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Originally Posted by Traum  I hope you're wrong, Mark, cuz I am really not liking these continued rate hikes at all LOL~ But given how discretionary spending still seems to show no sign of letting up -- esp in the travel & tourism sector -- I wouldn't be surprised to see another rate hike later this year. | Yeah lets raise the interest rates of local residents to counter the discretionary spending of tourists, that'll fix it.
Fuuuuuuuck fuck fuck.
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06-07-2023, 12:24 PM
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#26377 | | RS Veteran
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What if....they brought back interest rates from the 80s? 
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06-07-2023, 12:36 PM
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#26378 | | RS has made me the bitter person i am today!
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Bitches about inflation, raises minimum wage, hands out more money, charge more carbon tax, buy more immigrants to hand out money to, raises property tax due to inflation, send more free weapons to Ukraine, continues to stir shit up with Russia, Taiwan China.
Sure raising interest rates will fix inflation.    | |
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06-07-2023, 12:53 PM
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#26379 | | Willing to sell a family member for a few minutes on RS
Join Date: Apr 2011 Location: North vancouver
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Originally Posted by bcrdukes What if....they brought back interest rates from the 80s? | Bring back housing prices from the 80s and I'd blow tiff macklem for those.
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98 technoviolet M3/2/5 Quote:
Originally Posted by boostfever Westopher is correct. | Quote:
Originally Posted by fsy82 seems like you got a dick up your ass well..get that checked | Quote:
Originally Posted by punkwax Well.. I’d hate to be the first to say it, but Westopher is correct. | | |
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06-07-2023, 12:54 PM
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#26380 | | Willing to sell a family member for a few minutes on RS
Join Date: Apr 2011 Location: North vancouver
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Originally Posted by JDMDreams Bitches about inflation, raises minimum wage, hands out more money, charge more carbon tax, buy more immigrants to hand out money to, raises property tax due to inflation, send more free weapons to Ukraine, continues to stir shit up with Russia, Taiwan China.
Sure raising interest rates will fix inflation. | Do you, uhhh, know that the bank of canada and the Canadian government are two different things?
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98 technoviolet M3/2/5 Quote:
Originally Posted by boostfever Westopher is correct. | Quote:
Originally Posted by fsy82 seems like you got a dick up your ass well..get that checked | Quote:
Originally Posted by punkwax Well.. I’d hate to be the first to say it, but Westopher is correct. | | |
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06-07-2023, 01:00 PM
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#26381 | | I WANT MY 10 YEARS BACK FROM RS.net!
Join Date: Oct 2007 Location: Vancouver BC
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it's a crown corp
minimum wage decisions are made more locally though
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06-07-2023, 01:02 PM
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#26382 | | Willing to sell a family member for a few minutes on RS
Join Date: Apr 2011 Location: North vancouver
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For better of for worse, and what seems clearly worse, their decision making is independent from one another.
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98 technoviolet M3/2/5 Quote:
Originally Posted by boostfever Westopher is correct. | Quote:
Originally Posted by fsy82 seems like you got a dick up your ass well..get that checked | Quote:
Originally Posted by punkwax Well.. I’d hate to be the first to say it, but Westopher is correct. | | |
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06-07-2023, 01:10 PM
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#26383 | | RS has made me the bitter person i am today!
Join Date: Apr 2014 Location: Van
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^^ that's the issue, too much bureaucracy, not in my department mentality, affects the whole country but there's no communication and they look at it at a micro city/ provincial level but not county wide. They are way too narrow sighted.
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06-07-2023, 01:18 PM
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#26384 | | I *heart* Revscene.net very Muchie
Join Date: Apr 2001 Location: Burn-A-Bee
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Originally Posted by JDMDreams ^^ that's the issue, too much bureaucracy, not in my department mentality, affects the whole country but there's no communication and they look at it at a micro city/ provincial level but not county wide. They are way too narrow sighted. | One is trying to buy votes, and the one isn't.
__________________ Never argue with a dumbass, they drag you down to their level and try to beat you with experience My Feedback
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06-07-2023, 02:25 PM
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#26385 | | in the butt
Join Date: Aug 2016
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Originally Posted by Hakkaboy One is trying to buy votes, and the one isn't. | This isn't the Trump thread
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Originally Posted by Mr.Money
i hate people who sound like they smoke meth then pretend like they matter.
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Does anyone have a pair of 25 pounds one-inch hole for sale at a reasonable price?
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Clothes come off and my car is permeated with the smell of fillet-o-fish and canned tuna.
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06-07-2023, 03:52 PM
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#26386 | | RS has made me the bitter person i am today!
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Originally Posted by westopher Ehhh I guess my daughters room is going to stay small for the foreseeable future.
My favourite part
"We need to combat inflation"
"A strong contributor to high inflation is mortgage payments increasing due to high interest rates"
You can't write this shit. | Given from what I’ve seen in the market, the statement is not completely wrong.
For the last decades or so, we’ve maintain the rent relatively low thanks to the continual increase in housing value. Thus, LLs are ok taking in a lower rent since they would make their return in increase of property value.
Now that housing is no longer growing and interest rate is so high, LLs would charge the maximum rent the market is ready to pay. And the fact that out government only allowed minimal increase in rent didn’t help.
I’ve heard cases where LLs rent were so cheap vs the market going rate, that it made sense for them to kick out tenants, stay rent free for 6mth just so they don’t get in trouble with RBT and raise all at once to market maximum.
So in a sense, yes. Price of rent, a major component in inflation is going up thanks to the increase in interest rate.
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06-07-2023, 03:56 PM
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#26387 | | RS has made me the bitter person i am today!
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Also property tax, insurance cost, maintenance fees. Everything is going up. Except stonks
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06-07-2023, 03:59 PM
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#26388 | | I have named my kids VIC and VLS
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When I first rented my 700sq ft basement suite out for $1600 a month in 2016 people were emailing me telling me to die, shit greedy landlord etc.
Since 2016 I’ve never once raised the rent on my suite and now comparables are probably $1800-$2200. Hope those people are happy hehe
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Dank memes cant melt steel beams
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06-07-2023, 04:03 PM
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#26389 | | Performance Moderator
Join Date: Jun 2001 Location: Richmond
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Easily that much, you're on the west side of Van aren't you? 1 bedrooms in my building in Richmond are renting for $2200
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06-07-2023, 04:18 PM
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#26390 | | RS has made me the bitter person i am today!
Join Date: Nov 2010 Location: /
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Originally Posted by westopher Bring back housing prices from the 80s and I'd blow tiff macklem for those. | If 80's interest comes and 2010's housing prices comes back. It's not a bad trade off even if you lose your cheaper home.
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06-07-2023, 04:55 PM
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#26391 | | I have named my kids VIC and VLS
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Originally Posted by 68style Easily that much, you're on the west side of Van aren't you? 1 bedrooms in my building in Richmond are renting for $2200 | East van, hasting sunrise
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Dank memes cant melt steel beams
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06-07-2023, 04:56 PM
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#26392 | | Old School RS
Join Date: May 2004 Location: Port Moody
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Originally Posted by JDMDreams Also property tax, insurance cost, maintenance fees. Everything is going up. Except stonks | S&P 500 is up 12% and Nasdaq is up 26% YTD - can't complain really.
-Mark
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I'm old now - boring street cars and sweet race cars. | |
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06-07-2023, 05:28 PM
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#26393 | | My homepage has been set to RS
Join Date: Jun 2013 Location: Burnaby
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Originally Posted by JDMDreams Also property tax, insurance cost, maintenance fees. Everything is going up. Except stonks | S&P 500 is up 12% YTD
Nasdaq is up 32% YTD
TSLA is up 108% YTD
AAPL is up 42% YTD
MSFT is up 35% YTD
Just stay in the index... Most investors shouldn't be picking individual stocks. Buy the index and just move with the market. Picking individual stocks in the long run is a losing game.
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06-07-2023, 05:30 PM
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#26394 | | My homepage has been set to RS
Join Date: Jun 2013 Location: Burnaby
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Originally Posted by Hondaracer When I first rented my 700sq ft basement suite out for $1600 a month in 2016 people were emailing me telling me to die, shit greedy landlord etc.
Since 2016 I’ve never once raised the rent on my suite and now comparables are probably $1800-$2200. Hope those people are happy hehe | Why don't you raise rent?
Every maintenance cost you incur has gone up since 2016.
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06-07-2023, 05:45 PM
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#26395 | | Old School RS
Join Date: May 2004 Location: Port Moody
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Originally Posted by PeanutButter S&P 500 is up 12% YTD
Nasdaq is up 32% YTD
TSLA is up 108% YTD
AAPL is up 42% YTD
MSFT is up 35% YTD
Just stay in the index... Most investors shouldn't be picking individual stocks. Buy the index and just move with the market. Picking individual stocks in the long run is a losing game. | We bought Nvidia in February for our clients... feeling like heroes over here at nearly +125%!
-Mark
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I'm old now - boring street cars and sweet race cars. | |
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06-07-2023, 05:55 PM
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#26396 | | I have named my kids VIC and VLS
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Originally Posted by PeanutButter Why don't you raise rent?
Every maintenance cost you incur has gone up since 2016. | Up until this point it’s never really been worth it but next time around it will be going up the max.
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Dank memes cant melt steel beams
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06-07-2023, 07:34 PM
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#26397 | | I subscribe to the Fight Club ONLY
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Originally Posted by sonick Yeah lets raise the interest rates of local residents to counter the discretionary spending of tourists, that'll fix it.
Fuuuuuuuck fuck fuck. | I wasn't really thinking about the discretionary spending of (foreign) tourists when I made the statement. It was really more about referring to how lots of locals are travelling -- be it locally, regionally, within Canada, or internationally. In my social media feed (which is of course super, super accurate and indicative of the whole world hahah~), at any given point, there are probably at least 3+ people I know who is travelling somewhere, and it has been like this for quite a while. Add to the fact that plane tickets are scarce, expensive, and people are still travelling, that tells me a good bunch of people are still actively contributing to this discretionary spending spree.
(I wish I were in the same boat...)
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06-07-2023, 07:49 PM
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#26398 | | Rs has made me the woman i am today!
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What percentage of homeowners are actually feeling these rate increases so far? With a lot of people locked in at lower rates for a couple more years it could be quite awhile before these rate hikes actually show their teeth for a lot of people no?
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06-07-2023, 08:03 PM
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#26399 | | I have named my kids VIC and VLS
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Well I think historically it’s been like 50/50 variable and fixed. So even say it’s 35% variable that’s still a huge increase in overall payments.
This is the first time we went variable and it was probably the most costly financial mistake we’ve made. However it’s still completely manageable and our lifestyle hasn’t changed
Two of my best friends were both on variable and both of them have gone from $2600 or so a month to over $5200
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Dank memes cant melt steel beams
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06-07-2023, 10:10 PM
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#26400 | | Rs has made me the man i am today!
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Originally Posted by MarkyMark What percentage of homeowners are actually feeling these rate increases so far? With a lot of people locked in at lower rates for a couple more years it could be quite awhile before these rate hikes actually show their teeth for a lot of people no? | https://www.canadianmortgagetrends.c...inues-to-fall/ Quote: |
As of August 2022, 44.2% of new mortgage borrowers chose a variable rate, down from a peak of 56.9% in January 2022, according to the Fall Residential Mortgage Industry Report published by the Canada Mortgage and Housing Corporation (CMHC).
| The last few months were a somewhat good time to lock in as some folks were getting rates around 5% for 3 year mortgages and if you're on variable still you're likely around 5.7-6% right now. I locked in 2 increases ago at 5.37% and would have been at 5.7% if I hadn't locked in. Taking my medicine.
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