Once you get that debt (mortgage) it's over. Everything goes into it. I'm glad I did car stuff first and still try to make car stuff work even with a mortgage. I was supposed to do 0 track days this year, yet I'm about to do my 3rd in August. I do however buy a lot of used tires and brake pads/rotors. Mostly because there's still a lot of usable life in them that most people don't expect.


It's depressing tho - having a mortgage. I just renewed. Went from a 25 year term less 3, back to a 30 year term. The fact that I'm gonna be paying this house off until I'm roughly 56 is depressing as hell. I'm 26 next month and I now know first hand what it's like to be house poor because I have zero savings. Some people spend what little savings they have on dating or vacations, the car / track life is the one thing that helps me keep going.

Of course the smart thing to do would be to sell my car and buy a shitbox. But the shitboxes cost 70% as much and quality of life is so much worse. The smart thing to do, like you say, is to save in my 20s. Props to the people doing or had done the financially responsible things cause it's hard to always choose responsibility over happiness.



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You just need a sugarmama problem solved!

Or a sugardaddy... no judgement

Hang in there, buddy. For the most part, I consider myself being caught up in some sheer dumb luck because at the time when I bought my first apartment in my late 20's, RE prices have not gone bat shxt crazy yet -- I think my first starter apartment was a 700 sq ft affair for just $300k+?

Young folks really have the odds insanely stacked against them, and you are already ahead in that game, even though it doesn't feel like it.

I signed up for my current mortgage @ 40 yrs old, and right now, I am aiming to pay it off @65 LOL~ (All the while being house-poor.) That'd make the perfect retirement gift, wouldn't it LOL?

Sorry, this is off topic but look at it this way. Now is a good time to be house poor. You're inflating that debt away.

Eventually your salary will move up and you will be paying off the expensive dollars of 3 years ago with the garbage dollars of tomorrow.

Also, at least you're getting some track days in. I'm struggling to find time to dial out the predet I'm getting at the moment so I'm at 0 track days this summer despite buying a trailer and getting a few weekend passes from the wife.

I'll just leave this here.

https://financialpost.com/news/canad...falling-behind

And yes I thought about just carrying the debt forever? As most likely this house won't be a forever home you will sell some day and the appreciation + inflation will offset the debt? So invest the money rather than pay off debt?:drunk:

It's pretty easy to get discouraged these days.

But, then I have to remember that the posters on RS are extremely privileged. The gap between the rich and poor is growing wider, particularly post-pandemic. Lots of people are struggling - all you see on Facebook community groups is people wanting advice on finding their next rental or on different ways to make ends meet. Many people can only dream of getting a mortgage - they can barely make rent.

Well... sort of... but less than 30% of Canadians rent, and people who complain a lot tend to go online to do it and waste time on FB (older people) to whine and cry about how much better things used to be instead of using their time smarter or trying to hustle a bit.

If you look at their other posts on (insert name of group here) I find you always see their other posts are about buying a new car or being a Steveson Pizza Co. with some lobster pizza or their next Mexico trip.

People are stupid.

Smart people buy Integra Type-S at MSRP tho am I right? lol

uhhhh sure. Although i still think the smarter person is the one who buys the CTR FL5 for MSRP and save yourself the 8k.

That already seems incredibly rare to be in your mid 20's with a house, and also didn't sacrifice and got to have fun with car stuff. I think you did really well. If you already have property and still able to have extra for fun, I think that's doing it right.

A lot of people out there are much older, with zero savings, an no property. Feel very hopeless of ever being owners and what little they do save up goes into fun, because like you said, it's hard to choose responsibility over happiness.

Yes, the internet tends to skew to the negative generally, but the number of people who find themselves in a tough situation is getting larger. The number is closer to 40% of households in Metro Vancouver who rent:

https://dailyhive.com/vancouver/metr...n-demographics

I see ppl renting closets and bathtubs for $600 a month. Which is ridiculous. I remember 2 decades ago I can rent a whole basement for that price.

Thanks, I appreciate it.

My parents were one of those people, in their 50/60s with no hope of every owning a home. Every dollar went to my brother and I. I'm fortunate that despite living in low income housing most of my life / food banks etc, I was able to experience cool sports in school (snowboarding, etc due to subsidies).

I left out a key caveat, I posted about it back in 2020 when we were looking to buy. But basically I own 1/3 of the house (on title lol). I pay for 1/2 the mortgage, but I definitely didn't contribute as much to the DP as my parents, but I guess that's why the debt is on me to carry.

In regards to happiness over responsibility, that's why I bought the Type R after the initial mortgage approval LOL. I was hoping to have paid it off by now, but it hasn't gone that way. Fortunately the loan is 3.99% which is pennies compared to the 5.29% that I just renewed my mortgage for.

While I know it's not logical to compare to my peers or even the people on RS, it's hard not to. But similarly, everyone probably has their own struggles that they're dealing with that doesn't get shared. It just appears that everyone is living the good life. Ironically, I've become the typical "look like I'm living the good life but under a mountain of debt" type.

2 decades ago, an 01 ITR was $31,500. Today, the ITS is 56K. Pretty much adjusted for inflation (1.72), it's about the same cost.

Of course housing doesn't carry the same low rate of inflation.

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If your expectation is that prices for things will not increase materially over a 20 year period, you are going to be pretty constantly unhappy - that is not a reasonable ask for living in a country with a growing GDP and immigration.

It's also not to say real estate hasn't outpaced inflation either, but your baseline seems unrealistic.

-Mark

This is the story of my life LOL~

I'm trying to embrace it, whatever that means :fuckyea:

Pretty sure this lifestyle applies to most people in vancouver who are actually working. only these new immigrants/international students/mainlander housewives who dont work has the cash to do whatever and no debt.

I think what is unrealistic is someone thinking a closet or bathtub is a rentable space. Lol

Do you think I can live in a Golf?

Vanlife golf life. Sure why not

I wonder if van, moving van life is fun, I mean you can just park where your work, no rent, no property tax, all you pay is car insurance. ??? Profit :considered:

It's fun if you dont value personal realtionships.

I just saw a type s drive by and damn it's aggressive with the wide body :awwyeah:

https://carsandbids.com/auctions/rky...integra-type-s

Flipper on CarsandBids, it's at MSRP but hasn't hit reserve

I think it's important to consider things holistically!

You're driving a CTR and I presume every day that puts a smile on your face. You have track days to look forward to and keeps you going as you say. Then you leverage this state of contentment and passion to get yourself a promotion at work, then another, then another. You marry the woman of your dreams (if you haven't already), who is equally content and driven in life as you, and contributes as much if not more than you to the finances, now together you burn down your mortgage at quadruple pace, you start making extra payments. You say fuck it, you buy another house, a bigger house. You're laughing: you're 40 and you're debt-free. Then you retire a couple years later with passive income and millions in savings.

Now compare this to some schmuck who gave up on life, drives his soulless gutless grey shitbox to his entry level desk job to grind out the rest of his days. He saves every last penny but all he makes is pennies and that doesn't add up to much. Life feels tasteless. Nobody wants to be around this sad dude, and that makes him more sad. His depression shows up at work: he only puts in as much effort as it takes not to get fired, doesn't hustle doesn't grow doesn't take any initiative, so now he's never up for promotion. Can't get ahead. Dies alone. Oh but, he paid off his mortgage by age 60 instead of 65. At least he had that going for him.

You're 26: your career is just getting started. Your mortgage stays the same, but your income doesn't, and neither does your marital status. It gets better :).

Damn this sounds like me... esp the "driving a gutless gray shxtbox" part LOL~ :alonehappy: