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03-12-2020, 12:33 PM
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#15376 | | OMGWTFBBQ is a common word I say everyday
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Just like in 2009, it could be a good opportunity to buy provided your income is secure.
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03-12-2020, 01:05 PM
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#15377 | | RS has made me the bitter person i am today!
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I read that real-estate lags behind the economy by around 6 - 18 months
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03-12-2020, 01:37 PM
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#15378 | | Wunder? Wonder?? Wander???
Join Date: Sep 2010 Location: Vancouver
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I wonder if the COVID-19 virus will ripple and affect commercial real estate too.
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03-12-2020, 01:38 PM
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#15379 | | RS has made me the bitter person i am today!
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It should hit Commercial before Residential
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2022 Velo N
2005 S2000
2007 CSX Type-S [Sold]
2002 RSX-S [T-Boned]
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03-12-2020, 02:01 PM
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#15380 | | y'all better put some respeck on my name
Join Date: Dec 2002 Location: Vancouver
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Rate cut is providing a temporary boom in the RE market which is why I think it's a good time to unload any investment property that might be risky long term.
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03-12-2020, 02:02 PM
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#15381 | | y'all better put some respeck on my name
Join Date: Dec 2002 Location: Vancouver
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Originally Posted by Gerbs  It should hit Commercial before Residential | Commercial is harder to qualify but there's been a lack of inventory in Vancouver and is a good long term investment if you got the cash.
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03-12-2020, 04:15 PM
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#15382 | | My dinner reheated before my turbo spooled
Join Date: Jan 2008 Location: Vancouver
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Rates will be going lower. Another .75% cut
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03-12-2020, 04:46 PM
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#15383 | | y'all better put some respeck on my name
Join Date: Dec 2002 Location: Vancouver
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Originally Posted by Ludepower Rates will be going lower. Another .75% cut | In my opinion and it's just an opinion is the reality of the economic fallout from this pandemic hasn't affected people yet so most just see rates are low, time to jump into the market and get that home they couldn't get a few months ago.
Once the the economic fallout becomes reality the market will literately stop on a dime and start to decline. There's a small window where you can unload an investment property that maybe you wanted to sell anyways and make some good money but that window is small.
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03-13-2020, 02:26 AM
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#15384 | | I STILL don't get it
Join Date: Jan 2004 Location: Vancouver
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Is it still a seller's market right now? When is a good time to buy?
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03-13-2020, 11:46 AM
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#15385 | | My dinner reheated before my turbo spooled
Join Date: Jan 2008 Location: Vancouver
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| https://mobile.twitter.com/richard68...27650957791232
Another .75% rate cut as predicted. Thankful I chose variable.
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03-13-2020, 11:50 AM
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#15386 | | I subscribe to the Fight Club ONLY
Join Date: Aug 2007 Location: Paradise, BC
Posts: 7,046
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Originally Posted by Ludepower | It's another 0.5% rate cut, meaning after the cut, the BoC benchmark rate is now sitting at 0.75%.
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03-13-2020, 12:54 PM
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#15387 | | 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 Shades When is a good time to buy? | 1997.
No one can tell you when a good time to buy is, only when it was.
It’s the time to buy when YOU can comfortably afford a down payment, and a monthly payment that could go up with a rate hike.
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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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03-13-2020, 02:52 PM
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#15388 | | I *heart* Revscene.net very Muchie
Join Date: Nov 2004 Location: vancouver
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well while the rest of the outfall of this shit storm as been negative....another drop in rates will help my upcoming renewal
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03-13-2020, 08:00 PM
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#15389 | | RS Veteran
Join Date: Nov 2001 Location: An Island
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^ Likewise as mine is up for renewal July 1st. I check ratespy daily as I would like a 3 yr mortgage under 2%. HSBC has a 1.99% 3 yr but it's for high ratio only.
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03-13-2020, 09:23 PM
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#15390 | | Where's my RS Christmas Lobster?!
Join Date: Sep 2004
Posts: 890
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I am at the beginning of my renewal. July 1 is my maturity date. Td approved my 2.49% 5 yr fix my advisor suggested I wait she said it will get lower. What do you think. Should I ask her to submit a offer for 2.39 and if approve just renew at that rate. I’m just worry once this epidemic is over in a couple weeks it just jumps up
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03-13-2020, 10:13 PM
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#15391 | | I subscribe to the Fight Club ONLY
Join Date: Aug 2007 Location: Paradise, BC
Posts: 7,046
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Me thinks the pandemic isn't gonna be over in the couple of weeks, esp when it comes to Canada and the US. Looking at the patterns in terms of how many new cases are popping up, we are literally in the start of the rapid phase of the exponential uptick.
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03-14-2020, 04:52 AM
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#15392 | | I came, I saw, I conquered.
Join Date: Mar 2005 Location: Vancouver
Posts: 1,881
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| Quote:
Originally Posted by kkttsang I am at the beginning of my renewal. July 1 is my maturity date. Td approved my 2.49% 5 yr fix my advisor suggested I wait she said it will get lower. What do you think. Should I ask her to submit a offer for 2.39 and if approve just renew at that rate. I’m just worry once this epidemic is over in a couple weeks it just jumps up | Always do variable.
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03-14-2020, 10:28 AM
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#15393 | | RS has made me the bitter person i am today!
Join Date: May 2005 Location: 604
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Originally Posted by Slifer Always do variable. | I get you don't have a fiduciary duty to back up your statement on money advice here but at least provide a reason why you would tell someone "Always"....
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03-14-2020, 10:35 AM
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#15394 | | I have named my kids VIC and VLS
Join Date: Oct 2001
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Historically variable always comes out ahead
However with these low rates lately some of my friends in banking who have been traditionally going with variable have been locking in because of how low the rate is and future uncertainty
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Dank memes cant melt steel beams
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03-14-2020, 10:49 AM
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#15395 | | Willing to sell a family member for a few minutes on RS
Join Date: Apr 2011 Location: North vancouver
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It can’t really get lower unless the bank is giving free money, so I’d think locking in is pretty smart.
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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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03-14-2020, 10:54 AM
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#15396 | | I came, I saw, I conquered.
Join Date: Mar 2005 Location: Vancouver
Posts: 1,881
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It could go to 0%. Hell, maybe even negative interest for the first time in history.
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03-14-2020, 10:58 AM
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#15397 | | Willing to sell a family member for a few minutes on RS
Join Date: Apr 2011 Location: North vancouver
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Your crystal ball and my crystal ball are giving conflicting information I guess.
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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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03-14-2020, 11:04 AM
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#15398 | | My homepage has been set to RS
Join Date: Dec 2006 Location: somewhere in bc
Posts: 2,125
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Originally Posted by westopher It can’t really get lower unless the bank is giving free money, so I’d think locking in is pretty smart. | Denmark has a negative interest rate! I wouldn't say it's not possible.
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03-14-2020, 11:08 AM
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#15399 | | Willing to sell a family member for a few minutes on RS
Join Date: Apr 2011 Location: North vancouver
Posts: 12,756
Thanked 32,637 Times in 7,615 Posts
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Nothing is impossible, I’m just saying it’s unlikely.
__________________
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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03-14-2020, 11:18 AM
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#15400 | | To me, there is the Internet and there is RS
Join Date: Apr 2007 Location: Okanagan
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The peak over the last 50 years was 21.46% in the early 80's according to the Globe and Mail. The way I look at it, especially when things are as turbulent as they are now, the range is somewhere from -1% up to 21% (either extreme being unlikely but possible). If the rate available right now is 2.5% there's a lot of room for it to go up and very little for it to go down.
__________________ 1991 Toyota Celica GTFour RC // 2007 Toyota Rav4 V6 // 2000 Jeep Grand Cherokee
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Originally Posted by maksimizer half those dudes are hotter than ,my GF. | Quote:
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