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Re: misery at Vancouver housing cost?
Originally Posted by Novocastrian
(Post 11681135)
Rather than amusing, exasperating.
Please do try to post something, sometime, which isn't an aphorism followed by personal anecdotes. If you'll go that far I'd be happy to leave the punctuation up to you, at least provisionally. oh dear! May I suggest that you go back to ignoring me? Life was much more pleasant then .... for both of us |
Re: misery at Vancouver housing cost?
Originally Posted by BristolUK
(Post 11681122)
Even if buying at the right time it needn't be a great advantage. What's the point, for example, in getting ten times as much as you paid if it costs you the same to buy a home to live in somewhere else.
Of course, it might not cost ten times as much to buy or you might not need to buy again for a variety of reasons. Then it's become a huge stroke of fortune. But surely a massive advantage is that you are more likely in control. No moving because the landlord wants you gone. No having to rely on a good landlord to get things done. Your own choice of decor and alterations etc. Of course, it comes with disadvantages too - all the other costs. But you do, at least, retain some control over a major aspect of life. I originally did not want to buy a house. It seemed to make more sense to rent. But then there are all the downsides to that .......... from landlords to other tenants in the building. What's the point, for example, in getting ten times as much as you paid if it costs you the same to buy a home to live in somewhere else. Now a similar thing is happening with the seniors who are seemingly so happy in their houses with no mortgage ...... many of them were in ordinary jobs when they bought back in the 1970s. We have neighbours who have lived here longer than we have ....... a postie, a car mechanic, etc. None of them earned big wages, all had wives who worked, but now they will need as much money as they can get from the sale of their house to provide for their future care, because all most of them have are the government pensions. A care home that provides anything more than warehousing costs at least $5,000 - 6,000 a month out of the individual's own pocket. |
Re: misery at Vancouver housing cost?
Originally Posted by bc2015
(Post 11681103)
Speaking as a current homeowner, I'm not sure I really understand the obsession with owning a house. We bought ours at the "wrong time" (not in Vancouver) and it has since dropped drastically in value and is a real burden now. The mortgage is paid off through the rent but it's still not fun being an accidental landlord.
Owning a house gives good stability but you also lose a ton of flexibility and I'm not sure if the tradeoff is worth it. I definitely don't think it's worth being miserable over. Right now where I am, renters are being evicted in large numbers as owners sell the houses since the market is so hot right now, the new owners are largely owner occupiers and now that has led to rents on par with what a mortgage would be and sometimes even more. condos that were renting for 700/month 16 months ago are not running 1300+ a month or more. It's also nice to be able to have the ability to Taylor your house to you which you can't do with renting, have the appliances you want, the paint you want, and so on. Owning also allows one to potentially be rent/mortgage free in their senior years, or allow them to sell the house as part of their retirement since pensions are long gone. Lots of benefits to owning, but very little to renting. |
Re: misery at Vancouver housing cost?
Originally Posted by scilly
(Post 11681160)
I originally did not want to buy a house. It seemed to make more sense to rent. But then there are all the downsides to that .......... from landlords to other tenants in the building.
This has long been the main problem in Vancouver ...... for example, we could have sold and moved, thus freeing our little house for someone new to the market. But we could not afford to move "up", even 5 years after we had bought. Now a similar thing is happening with the seniors who are seemingly so happy in their houses with no mortgage ...... many of them were in ordinary jobs when they bought back in the 1970s. We have neighbours who have lived here longer than we have ....... a postie, a car mechanic, etc. None of them earned big wages, all had wives who worked, but now they will need as much money as they can get from the sale of their house to provide for their future care, because all most of them have are the government pensions. A care home that provides anything more than warehousing costs at least $5,000 - 6,000 a month out of the individual's own pocket. I'd venture a postie today could not buy a home in Vancouver. |
Re: misery at Vancouver housing cost?
Originally Posted by Jsmth321
(Post 11681168)
Wait for the future when the seniors of the future have nothing but CPP or a modest RRSP, and no home to sell, the government is going to have heck of a time caring for all us seniors of the future...
I'd venture a postie today could not buy a home in Vancouver. The government has a BIG problem coming soon as the baby boomers reach 65 and 70 .......... pensions and medical care They will soon be going the way of the US where many seem to be believe that the onus to save for the future is on you the individual, not the government. Canada Post also seems to be trying to do away with the postie, as we know them ...... so they'll all be doing other jobs! |
Re: misery at Vancouver housing cost?
Originally Posted by bc2015
(Post 11681103)
The mortgage is paid off through the rent but it's still not fun being an accidental landlord.
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Re: misery at Vancouver housing cost?
Originally Posted by scilly
(Post 11681214)
The government has a BIG problem coming soon as the baby boomers reach 65 and 70 .......... pensions and medical care
They will soon be going the way of the US where many seem to be believe that the onus to save for the future is on you the individual, not the government. Canada Post also seems to be trying to do away with the postie, as we know them ...... so they'll all be doing other jobs! We rarely get letter mail any more, all bills are electronic sent, and well other then CRA and some provincial mail we get, we get nothing letter mail, and I send maybe 2 or 3 letter mail items in a year. I don't see how Canada is any different today in regards to retirement, seems pensions from employers in the private sector have been going away just as fast as they have in the US, and only option for retirement is to save it all yourself with a limited amount of money from government US has social security and Canada has CPP, but neither are enough for a senior if they have no retirement savings saved. At the rate we are going, I don't see us having any retirement, hard to save when nothing left at the end of the money. |
Re: misery at Vancouver housing cost?
Originally Posted by bc2015
(Post 11681103)
Speaking as a current homeowner, I'm not sure I really understand the obsession with owning a house. We bought ours at the "wrong time" (not in Vancouver) and it has since dropped drastically in value and is a real burden now. The mortgage is paid off through the rent but it's still not fun being an accidental landlord.
Owning a house gives good stability but you also lose a ton of flexibility and I'm not sure if the tradeoff is worth it. I definitely don't think it's worth being miserable over. |
Re: misery at Vancouver housing cost?
Originally Posted by beckiwoo
(Post 11681215)
Yeah but if you purchased it in Ireland/UK - you would have rented it out anyway if you were coming out to Canada surely?
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Re: misery at Vancouver housing cost?
Originally Posted by Howefamily
(Post 11681310)
I think many sold their UK homes before coming to Canada, I know we did and I am glad we did
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Re: misery at Vancouver housing cost?
Originally Posted by Howefamily
(Post 11681310)
I think many sold their UK homes before coming to Canada, I know we did and I am glad we did
I would never sell a house in the UK/Ireland if I was on temp work permit in Canada |
Re: misery at Vancouver housing cost?
Originally Posted by Shard
(Post 11681293)
Where is that ?
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Re: misery at Vancouver housing cost?
Originally Posted by scilly
(Post 11681059)
I don't necessarily agree with you that it was easier for us ...........
smaller amounts involved, yes ....... but our salaries were also MUCH smaller than what people are paid now. So percentage-wise ........ about as much of our money had to go towards finding the down payment and the mortgage payments OH was then earning about $9000-10,000 a year ........... now people in the equivalent positions are earning over 10x that a year. I was in a year-by-year always likely to be laid off research position that brought in less than $5,000. Buying a house back then was not exactly easy .......... we had many months when there were more days left than we had money. Entertaining friends to dinner meant spaghetti with meat sauce, and candles in old wine bottles. BUT, we also did not insist on immediately buying the house we really wanted, we bought a house that we could just afford, and did not do any renos for several years. Nor did we insist on having topline appliances or furniture ...... we made do with what we had collected during the previous 4 years, some of it second-hand, and bought as little extra as we could get away with. Friends loaned us 2 carpets until we could afford new. In fact, the previous owners of the house took the fridge and stove with them (not usual here, as you know). We carefully counted our money, and realised that we could only afford to buy one of those appliances before we moved in. We also could not afford to pay a moving company, so we had arranged a cadre of friends to help us .......... the choice of appliance was thus made easy .......... a fridge to hold the beer for them to drink. :lol: I cooked on a camp stove placed on boards over the kitchen sink, with the window above it wide open, until we could afford the range. |
Re: misery at Vancouver housing cost?
Originally Posted by Jsmth321
(Post 11681232)
Letter mail is a dying product, so no real surprise there is less and less need for carriers and all that jazz.
Admittedly we do get lots of leaflets from car dealers and restaurants, but the businesses must see some value in that or they wouldn't do it. I suppose they could do a deal with the newspaper/flyer delivery folk instead but they could do it now. I imagine there's a reason why they don't. But we still get a water bill in the mail every 3 months (x2 for the home and rental) with no option to get the bills any other way. Property Tax (x2) and updates unless paid in full in one go rather than monthly. Insurance statements/increase notices - half a dozen annually. My wife regularly got letters for various medical appointments and we'd both get regular letters relating to prescriptions insurance. I have stuff that comes from the UK - pension statements, bank stuff, tax letters... I have signed up for email contact/paperless billing etc wherever possible but there's still a fair bit of mail use. Community mail boxes (what that's like in winter with the potential for frozen locks/doors and snowbanks one can only imagine) are on the way. Personally I'd rather see door deliveries reduced to alternate days or something instead of walking up the street just to see if anything's arrived and then again later since delivery times can vary enormously. |
Re: misery at Vancouver housing cost?
Originally Posted by beckiwoo
(Post 11681332)
I would never sell a house in the UK/Ireland if I was on temp work permit in Canada Although we were going to sell that house whatever happened anyway. Still got an inherited retirement apartment that isn't selling. Over 2 years now :sneaky: |
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