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12-11-2024, 11:43 AM
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#33751 | | RS.net, helping ugly ppl have sex since 2001
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Originally Posted by Hondaracer  Also feel like patting myself on the back as I pumped all my expendable income into investments VS paying down my mortgage over these last few years as I anticipated everything would turn to shit here and ultimately the BoC would be forced to lower rates, which worked out almost exactly as I had planned | but but if you cleared your mortgage, you wouldn't need to worry every month and then you can invest some more in whatever afterwards. 
I wouldn't know, I got hacked my Chinese hackers and they stole all my money. (ps it was spy balloon)
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12-11-2024, 12:43 PM
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#33752 | | RS has made me the bitter person i am today!
Join Date: Apr 2014 Location: Van
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Would you rather $2m house free and clear, $0 in chequing to pay for your $10000 property tax, or $1m mtg and $1m in investments on a $2m house. I would sleep better at night with $1m in investments.  | |
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12-11-2024, 12:58 PM
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#33753 | | I have named my kids VIC and VLS
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In the last 6 months you’ve probably gained 10x on investment what you’ve paid down on principle
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12-11-2024, 02:04 PM
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#33754 | | Rs has made me the man i am today!
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Originally Posted by JDMDreams Would you rather $2m house free and clear, $0 in chequing to pay for your $10000 property tax, or $1m mtg and $1m in investments on a $2m house. I would sleep better at night with $1m in investments. | I would use my HELOC on my free and clear house to invest and write off the interest.
These are of course hypothetical black and white comparisons and each person is going to have different circumstances. In my case, I feel I'm so heavy in US equities that I don't want to add more fuel to the fire and that I should consider cashing out some of my gains now (and I have sold some lately).
I can't be chasing more 30% growth at this point so paying down my rather sizeable mortgage is a sensible play in the same way that Warren Buffett has been hoarding cash. I'm taking some risk off the table to enable more risk taking later.
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12-11-2024, 02:26 PM
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#33755 | | RS has made me the bitter person i am today!
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That's the thing though, unless you have really high income you're not getting a heloc close to $1m. So if you make $100000 a year even with a free and clear house you're getting around $400 heloc tops. And you are cash strapped. Vs if you have $1m in investments you can pretty much guaranteed to get more lending. You can pretty much get dollar per dollar lending via high networth. Even if your income is shit or a retired boomer.
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12-11-2024, 02:43 PM
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#33756 | | linguistic ninja
Join Date: Aug 2001 Location: Vancouver, BC
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Past performance is not indicative of future returns. If you asked me at the end of 2022, I would have said shit I should have paid off my mortgage instead. Now end of 2024? Glad I didn't but it can go either way really at this point.
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12-11-2024, 03:28 PM
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#33757 | | I *heart* Revscene.net very Muchie
Join Date: Nov 2004 Location: vancouver
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Originally Posted by Gerbs Rollercoaster ride
4.1% 3-year fixed Offer - Aug
4.3% 3-year in late - Oct/Nov
3.9% 3-year or Prime -0.85% - yesterday!
paying an extra $5K/year in interest vs 1.59%
the 50 bps cut does nothing for fixed, but variable would be 4.6% now, still not the play imo. | what lender is that with?
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12-11-2024, 03:38 PM
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#33758 | | RS has made me the bitter person i am today!
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Blessed for that 36% YTD though, not pre-paying pays for another couple S2Ks!
Scotia!
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12-13-2024, 04:43 PM
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#33759 | | Rs has made me the woman i am today!
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I'm glad the glaringly obvious is now all coming out to light, you would've been branded a racist a decade ago talking about this stuff. https://vancouversun.com/opinion/col...raud-vancouver
It's almost unbelievable that we almost voted Rustad and his merry band of crooks back in to fill their pockets and run this province into the ground once again.
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Originally Posted by MG1 In Mike we Trust | | |
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12-13-2024, 05:36 PM
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#33760 | | RS.net, helping ugly ppl have sex since 2001
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Racist ? Hell no. It just happen to be that Chinese people took advantage of Canada’s lax immigration and money laundering laws. So did a lot of East Indian too (like 20 people’s names on title).
Besides real estate is the single largest revenue generator for the country. Without it, where would they get the funding for all the hare brained social programs that turd and friends created.
No wonder they don’t want the market to pop or even slightly deflate. They cannot let prices drop because that means our already dire economy will be in a tail spin recession if the RE bubble burst.
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12-14-2024, 12:31 PM
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#33761 | | y'all better put some respeck on my name
Join Date: Dec 2002 Location: Vancouver
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My friend received $2.5 million from his grandmother last year. He was living at home but decided not to buy a place and instead rented a nice two bedroom apartment in downtown. He's using the money he's accumulating from his investments to cover rent and expenses. He still has a full time job, and he's saving that income for trips and other things.
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12-14-2024, 12:37 PM
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#33762 | | RS.net, helping ugly ppl have sex since 2001
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^ wow ... $2.5M from GRANDmother !! That's a lot of inheritance, generational wealth. I mean how many children did she have and how many grandchildren ... assuming she was fair to all ??!! Was it one child and one grandchild?
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12-14-2024, 12:44 PM
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#33763 | | Rs has made me the woman i am today!
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2.5 mil in intc 
__________________ There's a phallic symbol infront of my car Quote: |
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12-14-2024, 12:55 PM
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#33764 | | y'all better put some respeck on my name
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Originally Posted by whitev70r ^ wow ... $2.5M from GRANDmother !! That's a lot of inheritance, generational wealth. I mean how many children did she have and how many grandchildren ... assuming she was fair to all ??!! Was it one child and one grandchild? | He's the only child, grandmama is 94 years old and had to sell her home on the west side because she needs full time care. Buddy hit the lotto.
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12-15-2024, 08:02 AM
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#33765 | | Performance Moderator
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Good thing he was nice to granny all this time and she didn't have a doggo to give it all to lol
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12-15-2024, 08:27 AM
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#33766 | | RS.net, helping ugly ppl have sex since 2001
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Just knowing some of the Vancouver West side (Dunbar, Point Grey, Kits) demographics, there will be lots of lucky (by genetics) boomers and grandchildren.
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12-15-2024, 12:27 PM
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#33767 | | y'all better put some respeck on my name
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Originally Posted by whitev70r Just knowing some of the Vancouver West side (Dunbar, Point Grey, Kits) demographics, there will be lots of lucky (by genetics) boomers and grandchildren. | I would say all of Vancouver. Tons of old folk sitting on clear title multi-million dollar properties.
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12-15-2024, 12:30 PM
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#33768 | | Performance Moderator
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My grandma’s farm was a windfall for our pretty small family for sure, even tho my dad sat on it for 10+ years after she died and didn’t monetize it at all he still looks like a genius cuz it doubled in value during that time.
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12-17-2024, 11:38 AM
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#33769 | | y'all better put some respeck on my name
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Came up on my social media feed...  | |
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12-17-2024, 12:46 PM
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#33770 | | Rs has made me the man i am today!
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Originally Posted by Harvey Specter Came up on my social media feed... | I've noticed that in Langford (and neighbouring areas) that all these new developments have basically no backyard. They're worse than the typical new Vancouver detached. And it's not like the lots are that small - they are commonly 5000sf or more so it wouldn't be hard to have a real backyard.
Like this place that has a 9000sf lot yet has no green space: https://www.rew.ca/properties/2009-p...ce-langford-bc
Other than that though you sure get a lot for the money compared to here.
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12-17-2024, 01:05 PM
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#33771 | | Willing to sell body for a few minutes on RS
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Originally Posted by supafamous I've noticed that in Langford (and neighbouring areas) that all these new developments have basically no backyard. They're worse than the typical new Vancouver detached. And it's not like the lots are that small - they are commonly 5000sf or more so it wouldn't be hard to have a real backyard.
Like this place that has a 9000sf lot yet has no green space: https://www.rew.ca/properties/2009-p...ce-langford-bc
Other than that though you sure get a lot for the money compared to here. | That's because these new developments in Bear Mountain are built on steep and rocky terrain, that costs a fortune to blast, clear, and level. That pinehurst terrace house's backyard is effectively a 200m cliff face down to the highway. 9000sqft total, 2000sqft usable.
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12-17-2024, 01:14 PM
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#33772 | | RS has made me the bitter person i am today!
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Originally Posted by Harvey Specter I would say all of Vancouver. Tons of old folk sitting on clear title multi-million dollar properties. | Even east van, me and many of my HS friends started the about splitting the $2.2- 2.8M home early so we can have our own houses for kids.
2030 RS gonna be whipping in even more balling cars Quote:
Originally Posted by 68style My grandma’s farm was a windfall for our pretty small family for sure, even tho my dad sat on it for 10+ years after she died and didn’t monetize it at all he still looks like a genius cuz it doubled in value during that time. | This kid I play poker with at SFU, his grandparents sold their farm and established a trust that has 40 children / grandchildren, pays $6K/net per child if they have a degree, no criminal history, and holds a F/T job, activates for all their kids too.
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12-17-2024, 01:30 PM
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#33773 | | RS Veteran
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This might come off as a dumb question, but is Bear Mountain a desirable area to live in? When I used to head to the Island regularly for work, I often stayed at the Westin there because at the time, it provided great value and it was an escape from the city, so I quite enjoyed it. Outside of that, I did see how much of a pain it was to build a home there.
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Originally Posted by EvoFire But fuck that exterior is like dating integra girl | | |
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12-17-2024, 01:34 PM
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#33774 | | RS.net, helping ugly ppl have sex since 2001
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But but but the mountain has bears in it.
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12-17-2024, 01:37 PM
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#33775 | | Rs has made me the man i am today!
Join Date: Mar 2011 Location: Vancouver
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Originally Posted by Harvey Specter I would say all of Vancouver. Tons of old folk sitting on clear title multi-million dollar properties. | Heck, most of the GVRD and a good chunk of Victoria region would fall under this. A friend of mine had their mother pass away recently and she was living in a million dollar home. As the last surviving child (though there are some step-grand kids involved I think) she's likely set to inherit the bulk of that house.
Both my parents and in-laws sit on clear title East Van homes and the in-laws recently asked my wife to help them find burial plots which got me making like: 
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