storko Wrote:
——————————————————-
> TheAliMan Wrote:
> ————————————————–
> —–
> > approaching_c Wrote:
> >
> ————————————————–
>
> > —–
> > > vancouver is boring. boring boring boring.
> and
> > > nobody cares about calgary.
> >
> >
> > Alberta and BC should separate. Goodbye Canada,
> > enjoy a declining economy forever!
>
> Nobody cares about Calgary?!
> Where do you think all your equalization payments
> come from?
Well I certaintly know where they DON’T come from..
As for Ontario, welcome to the Confederation poor man’s club, just an FYI it’s a BYOB club!
“Alberta and BC should separate. Goodbye Canada, enjoy a declining economy forever!”
Yea and once the world soon loses its thirst for oil, Alberta will probably face the worlds highest unemployment rate and soon again be kilometers and kilometers of soil for growing wheat.
It’s funny being in Alberta because barely anyone at all you talk to here is actually from here. I’ve been in and out of Alberta for 3 years now and I’ve honestly met about 3 people who are actually from the province. Everyone’s here to make a quick buck and get the hell out :P Sorry AliMan but my heart is with Toronto on this one. (It can definitely has its drawbacks as well)
> Glad you brought up housing…thinking of trying
> to buy a condo here in downtown Calgary in like 18
> months say…
>
> I am thinking market here has at least another
> 25% to drop for things like downtown condos due to
> oversupply, bad economy, overleverage etc.
>
> Any AF thoughts?
The west is screwed worse than Ontario.
Neighbours couldn’t find contractors to do work on their house because they were all moving out west last summer. The relocated contractors now have no jobs and I suspect western TV will be filled with sob stories from these unemployed folks soon.
There is nothing worse than news coverage of sob stories of stupid people. I feel for you out there.
storko Wrote:
——————————————————-
> TheAliMan Wrote:
> ————————————————–
> —–
> > approaching_c Wrote:
> >
> ————————————————–
>
> > —–
> > > vancouver is boring. boring boring boring.
> and
> > > nobody cares about calgary.
> >
> >
> > Alberta and BC should separate. Goodbye Canada,
> > enjoy a declining economy forever!
>
> Nobody cares about Calgary?!
> Where do you think all your equalization payments
> come from?
Fort McMurray - well at least it use to be when oil was $120..
> The west is screwed worse than Ontario.
>
> Neighbours couldn’t find contractors to do work on
> their house because they were all moving out west
> last summer. The relocated contractors now have no
> jobs and I suspect western TV will be filled with
> sob stories from these unemployed folks soon.
>
> There is nothing worse than news coverage of sob
> stories of stupid people. I feel for you out
> there.
Actually when the unemployment hits, sob stories won’t be the detriment.. the crime is going to go through the roof!
boom_or_bust Wrote:
——————————————————-
> CFA_Halifax Wrote:
>
> > Glad you brought up housing…thinking of
> trying
> > to buy a condo here in downtown Calgary in like
> 18
> > months say…
> >
> > I am thinking market here has at least another
> > 25% to drop for things like downtown condos due
> to
> > oversupply, bad economy, overleverage etc.
> >
> > Any AF thoughts?
>
> The west is screwed worse than Ontario.
>
> Neighbours couldn’t find contractors to do work on
> their house because they were all moving out west
> last summer. The relocated contractors now have no
> jobs and I suspect western TV will be filled with
> sob stories from these unemployed folks soon.
>
> There is nothing worse than news coverage of sob
> stories of stupid people. I feel for you out
> there.
Hey, I don’t disagree that Calgary and Edmonton will be the hardest hit real estate markets, sure they will, they also went up the most the previous 10 yrs.
Who gives a damn what your house is worth unless your planning on renting again (deep into retirement), all that matters is the level you buy it at, and what your rates are…I am hoping to enter at a very depressed price level, rates…who knows!
CFA_Halifax Wrote:
> Who gives a damn what your house is worth unless
> your planning on renting again (deep into
> retirement), all that matters is the level you buy
> it at, and what your rates are…I am hoping to
> enter at a very depressed price level, rates…who
> knows!
Actually it does matter what your house is worth because your mortgage could go underwater if you bought when prices were high.
CFA Halifax you’re correct that the loan will amortize and if you can make the payment you’re fine… until the loan term matures and the bank asks for an appraisal.
and that affects your total principal value of your loan??
If 5 yrs in, your house is now worth $250K and your remaining balance on the loan is $300K and you go to do your refinancing, then how does that affect the fact that you need to repay $300K over the next 20 yrs (if you were smart and got a 25 yr mortgage!)
So what if you equity is -$50K?
CFA_Halifax Wrote:
——————————————————-
> and that affects your total principal value of
> your loan??
>
> If 5 yrs in, your house is now worth $250K and
> your remaining balance on the loan is $300K and
> you go to do your refinancing, then how does that
> affect the fact that you need to repay $300K over
> the next 20 yrs (if you were smart and got a 25 yr
> mortgage!)
> So what if you equity is -$50K?
The bank may not like that you’re trying to back a 300k loan with a 250k asset especially if the economy is in the crapper again (or still) and your job is not stable.
boom_or_bust Wrote:
——————————————————-
> CFA_Halifax Wrote:
> ————————————————–
> —–
> > and that affects your total principal value of
> > your loan??
> >
> > If 5 yrs in, your house is now worth $250K and
> > your remaining balance on the loan is $300K and
> > you go to do your refinancing, then how does
> that
> > affect the fact that you need to repay $300K
> over
> > the next 20 yrs (if you were smart and got a 25
> yr
> > mortgage!)
> > So what if you equity is -$50K?
>
> The bank may not like that you’re trying to back a
> 300k loan with a 250k asset especially if the
> economy is in the crapper again (or still) and
> your job is not stable.
Its probably not worth it for them to pull te loan and foreclose in that situation though, they’ll only receive a fraction of the actual loan value it migth be worth it for them t wait until he actually defaults.
I think Vancouver is in the best situation out of all canadian cities, even if it all goes to pot we still have the dope game to keep things going.
the worlds first ebonics speaking, wu tang listening, malt liquor drinking investment banker.
storko Wrote:
——————————————————-
> I am visiting from Vancouver, and this city is the
> worst city in Canada.
> Dirty, busy, snowy, and an awful hockey team.
I reported this to Chad, just like people who reported the MMA thread to Chad. This is what I wrote:
This thread isn’t about finance, just like 10s or 100s of other threads that aren’t deleted that are irrelevant to finance but are not MMA. So you should delete this and the other 10s or 100s of worthless non-finance threads.
REPORTED THREAD #4
LET’S SEE HOW MANY NON-FINANCE (BUT NON-MMA) THREADS ARE KEPT.
Well I can fairly speak to the two major cities I’ve lived in, but girls in Western Canada are much hotter than those back where I come from…not that I am in anyway surprised.
sublimity Wrote:
> REPORTED THREAD #4
>
> LET’S SEE HOW MANY NON-FINANCE (BUT NON-MMA)
> THREADS ARE KEPT.
I bet the MMA threads had results and spoilers in the titles. I’m glad I missed them because I’m about to start watching it in about two minutes.
I’d be pissed about the tennis thread too if I didn’t accidentally catch the result on TV.
Please do not put spoilers in thread titles.
This board really needs a “shoot the C(R)APM” area or general needs to allow non-finance threads. I’m a level I candidate (Dec 09!) and I enjoy reading the General form the most.
Calgary seems to be a great spot to visit for about a week every year.
Stampede!
storko Wrote:
——————————————————-
> TheAliMan Wrote:
> ————————————————–
> —–
> > approaching_c Wrote:
> >
> ————————————————–
>
> > —–
> > > vancouver is boring. boring boring boring.
> and
> > > nobody cares about calgary.
> >
> >
> > Alberta and BC should separate. Goodbye Canada,
> > enjoy a declining economy forever!
>
> Nobody cares about Calgary?!
> Where do you think all your equalization payments
> come from?
Well I certaintly know where they DON’T come from..
As for Ontario, welcome to the Confederation poor man’s club, just an FYI it’s a BYOB club!
“Alberta and BC should separate. Goodbye Canada, enjoy a declining economy forever!”
Yea and once the world soon loses its thirst for oil, Alberta will probably face the worlds highest unemployment rate and soon again be kilometers and kilometers of soil for growing wheat.
It’s funny being in Alberta because barely anyone at all you talk to here is actually from here. I’ve been in and out of Alberta for 3 years now and I’ve honestly met about 3 people who are actually from the province. Everyone’s here to make a quick buck and get the hell out :P Sorry AliMan but my heart is with Toronto on this one. (It can definitely has its drawbacks as well)
“I am visiting from Vancouver, and this city is the worst city in Canada.
Dirty, busy, snowy, and an awful hockey team.”
Wow we’re so offended by your little diatribe storko.
Nerd.
Willy
Go Oilers!!!
Edmonton is better then all those cities… Van, TO, Cowtown….
… jk
:P (even i don’t believe myself… , maybe Calgary)
I was at the West Edmonton Mall yesterday.. that’s a plus for the city, and they have great deals on right now!
CFA_Halifax Wrote:
> Glad you brought up housing…thinking of trying
> to buy a condo here in downtown Calgary in like 18
> months say…
>
> I am thinking market here has at least another
> 25% to drop for things like downtown condos due to
> oversupply, bad economy, overleverage etc.
>
> Any AF thoughts?
The west is screwed worse than Ontario.
Neighbours couldn’t find contractors to do work on their house because they were all moving out west last summer. The relocated contractors now have no jobs and I suspect western TV will be filled with sob stories from these unemployed folks soon.
There is nothing worse than news coverage of sob stories of stupid people. I feel for you out there.
storko Wrote:
——————————————————-
> TheAliMan Wrote:
> ————————————————–
> —–
> > approaching_c Wrote:
> >
> ————————————————–
>
> > —–
> > > vancouver is boring. boring boring boring.
> and
> > > nobody cares about calgary.
> >
> >
> > Alberta and BC should separate. Goodbye Canada,
> > enjoy a declining economy forever!
>
> Nobody cares about Calgary?!
> Where do you think all your equalization payments
> come from?
Fort McMurray - well at least it use to be when oil was $120..
boom_or_bust Wrote:
> The west is screwed worse than Ontario.
>
> Neighbours couldn’t find contractors to do work on
> their house because they were all moving out west
> last summer. The relocated contractors now have no
> jobs and I suspect western TV will be filled with
> sob stories from these unemployed folks soon.
>
> There is nothing worse than news coverage of sob
> stories of stupid people. I feel for you out
> there.
Actually when the unemployment hits, sob stories won’t be the detriment.. the crime is going to go through the roof!
boom_or_bust Wrote:
——————————————————-
> CFA_Halifax Wrote:
>
> > Glad you brought up housing…thinking of
> trying
> > to buy a condo here in downtown Calgary in like
> 18
> > months say…
> >
> > I am thinking market here has at least another
> > 25% to drop for things like downtown condos due
> to
> > oversupply, bad economy, overleverage etc.
> >
> > Any AF thoughts?
>
> The west is screwed worse than Ontario.
>
> Neighbours couldn’t find contractors to do work on
> their house because they were all moving out west
> last summer. The relocated contractors now have no
> jobs and I suspect western TV will be filled with
> sob stories from these unemployed folks soon.
>
> There is nothing worse than news coverage of sob
> stories of stupid people. I feel for you out
> there.
Hey, I don’t disagree that Calgary and Edmonton will be the hardest hit real estate markets, sure they will, they also went up the most the previous 10 yrs.
Who gives a damn what your house is worth unless your planning on renting again (deep into retirement), all that matters is the level you buy it at, and what your rates are…I am hoping to enter at a very depressed price level, rates…who knows!
CFA_Halifax Wrote:
> Who gives a damn what your house is worth unless
> your planning on renting again (deep into
> retirement), all that matters is the level you buy
> it at, and what your rates are…I am hoping to
> enter at a very depressed price level, rates…who
> knows!
Actually it does matter what your house is worth because your mortgage could go underwater if you bought when prices were high.
once again, why does this matter if its underwater? Can you make your payments every month? Oui, then your good until you pay it off.
Just because you paid $350K and the market now tells you its only worth $250K doesn’t mean that your mortgage PMT will change…it will still ammortize
Am I missing something?
Fairly certain you forgot to carry the 1, there Hali.
CFA Halifax you’re correct that the loan will amortize and if you can make the payment you’re fine… until the loan term matures and the bank asks for an appraisal.
and that affects your total principal value of your loan??
If 5 yrs in, your house is now worth $250K and your remaining balance on the loan is $300K and you go to do your refinancing, then how does that affect the fact that you need to repay $300K over the next 20 yrs (if you were smart and got a 25 yr mortgage!)
So what if you equity is -$50K?
fort mac was doing pretty well when oil was at 45 a barrel too.
its a horrible place to work/live though
my uncle and famly emigrated from darthmouth 15 years ago when oil was in the dumps and he’s always done well for himself.
the worlds first ebonics speaking, wu tang listening, malt liquor drinking investment banker.
CFA_Halifax Wrote:
——————————————————-
> and that affects your total principal value of
> your loan??
>
> If 5 yrs in, your house is now worth $250K and
> your remaining balance on the loan is $300K and
> you go to do your refinancing, then how does that
> affect the fact that you need to repay $300K over
> the next 20 yrs (if you were smart and got a 25 yr
> mortgage!)
> So what if you equity is -$50K?
The bank may not like that you’re trying to back a 300k loan with a 250k asset especially if the economy is in the crapper again (or still) and your job is not stable.
boom_or_bust Wrote:
——————————————————-
> CFA_Halifax Wrote:
> ————————————————–
> —–
> > and that affects your total principal value of
> > your loan??
> >
> > If 5 yrs in, your house is now worth $250K and
> > your remaining balance on the loan is $300K and
> > you go to do your refinancing, then how does
> that
> > affect the fact that you need to repay $300K
> over
> > the next 20 yrs (if you were smart and got a 25
> yr
> > mortgage!)
> > So what if you equity is -$50K?
>
> The bank may not like that you’re trying to back a
> 300k loan with a 250k asset especially if the
> economy is in the crapper again (or still) and
> your job is not stable.
Its probably not worth it for them to pull te loan and foreclose in that situation though, they’ll only receive a fraction of the actual loan value it migth be worth it for them t wait until he actually defaults.
I think Vancouver is in the best situation out of all canadian cities, even if it all goes to pot we still have the dope game to keep things going.
the worlds first ebonics speaking, wu tang listening, malt liquor drinking investment banker.
storko Wrote:
——————————————————-
> I am visiting from Vancouver, and this city is the
> worst city in Canada.
> Dirty, busy, snowy, and an awful hockey team.
the whole country sucks….eh!
You guys obviously have never been to Montreal
MTL > Canada
Toronto has the best women (mtl can argue this too).
You just have to put up with goldiggers and old rich men (richer than you at least) at bars and you’re good.
I reported this to Chad, just like people who reported the MMA thread to Chad. This is what I wrote:
This thread isn’t about finance, just like 10s or 100s of other threads that aren’t deleted that are irrelevant to finance but are not MMA. So you should delete this and the other 10s or 100s of worthless non-finance threads.
REPORTED THREAD #4
LET’S SEE HOW MANY NON-FINANCE (BUT NON-MMA) THREADS ARE KEPT.
Well I can fairly speak to the two major cities I’ve lived in, but girls in Western Canada are much hotter than those back where I come from…not that I am in anyway surprised.
This thread rocks…
sublimity Wrote:
> REPORTED THREAD #4
>
> LET’S SEE HOW MANY NON-FINANCE (BUT NON-MMA)
> THREADS ARE KEPT.
I bet the MMA threads had results and spoilers in the titles. I’m glad I missed them because I’m about to start watching it in about two minutes.
I’d be pissed about the tennis thread too if I didn’t accidentally catch the result on TV.
Please do not put spoilers in thread titles.
This board really needs a “shoot the C(R)APM” area or general needs to allow non-finance threads. I’m a level I candidate (Dec 09!) and I enjoy reading the General form the most.
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