Anyone that bought homes over the last 10 years has no concept of the magnitude of the level of debt they have.Imagine 400k to 900k mortgages on cookie cutter homes with no space between them. This is just fine in the mind of the average leaf.Let me be clear, they are never going to pay it off. Never. They think because everyone else has a big ass mortgage that its fine. It took me 17 years just to pay down my 228k mortgage to 68k where it is now. How the fuck do these people think at 38 with a 500k mortgage they can pay it down by the time they retire? LMAO.Fucking totally disconnected from reality. Millions of us.
>>537297468don't worry, I'm sure our soon to be 50-year mortgages will be worse.
>>537297468they think some other retard will pay even more for it later
>>537297468easy print more money and cause some inflation, that way its not our problem, just like the boomers did
>>537297468Punished by god. Cannibalism will claim these lands again. All hail the dark lord.Supporting the ukr war also puts us on the docket for invasion, subversion, theft, etc. But mostly importantly, god hates canadians and I love it!
>>537297468>It took me 17 yearsHow many times did you refinance?
>>537297468debt is not realshekels are not realyou don't actually have money or debtit's a consensus, a belief that shekels exist and everyone has a particular amountbut no it exists only by beliefif people kvetch long and hard enough the belief will shift in such a way that their debt is no morewhat they do have in reality are the houses
Imagine going 50 years into denbts to live in a third-world shithole just to see shitskins daily.
>>537298512I never took any equity out of my house. Did renewals mostly on 5 year terms.
>>537299141I heard 10% of mortgage holders are going to be screwed in the next year when they go to renew.How much damage would a 2% hike in the interest rate do to those people?
>>537297823Yeah, just double the term of the mortgage every generation.
>>537299302It would make them all cash poor and stressed the fuck out. I am the only person I know in my age bracket among my friends/family who chose to just be frugal and get it paid down. Everyone else my age (early 40's) upgraded their homes in their mid 30's and are carrying large mortgages.My one friend has 740k mortgage with two car leases, he makes more than me but certainly not enough to justify having fucking 11 times the debt.Another had his mortgage paid, then bought a 1.2 million dollar home and has at least 500k mortgage at my age. If CUSMA dies he will be unemployed. They are all hanging on a thread. But its fine, everyone else is too!
>>537297468>>537299539>flagYour currency is probably going to inflate like crazy over the next 20 years. Fuck it, go get a $10 million loan. That will probably be one years salary in leaf dollars come 2046.
>>537297468Isn't the average income in Canada is $500,000 a year?
>>537300152lol wut. Varies between 59k and 53k per Province.
>>537300631And after taxes, rent, car insurance, food, internet, etc you’d be lucky to save like $5k a year. Canada is a slave plantation
>>537300716theyre based
I think i managed to save up a quarter mil in the last 3 years its not so bad
>>537299423>you are gen beta? >heh here ya go kid, here is your 100 year mortgage, you are welcome!
I live off of Canadian welfare thanks for working and paying taxes.
>>537300152lol. the average income in canada no longer mathematically qualifies for the average mortgage in canada. the RCMP released a report a couple years ago saying they expect widespread unrest in the coming years as canadian's quality of life decline. the report also mentioned they expect a large rise in instances of poaching as more people begin foraging to feed themselves
canadians are cucks imagine paying rent to your own house you live in
>>537297468You know you don’t have to live in Toronto or Vancouver, you can still buy houses in Sask with 20 acres for 50,000 beaver bucks, just saw one that was all redone in early 2010’s siding, windows and plumbing sell at auction for that. >millions would rather pay 1 million for a 900 square foot small chunk of shit on a lot zoned in 1910 with no space in Toronto or Vancouver instead. There are choices. I bought my first home for 45,000 in a small town shithole 15 min outside of a city centre, that was when lending through CMHC was like 5 percent, was still less than renting in town, but now own a 1600 square foot home with barns and buildings on 160 acres for 300,000. >sometime sacrifices must be made.
>>537300118It will. The average Canadian is retarded and despite the Liberals destroying Canada they keep voting them in. We're turbo fucked.
>>537303475None of my examples are for Toronto or Vancouver. My brother in law bought a condo in a medium sized city for 640k. He just sold it for 4 something. Has to start all over. Lost his savings.
>>537297468That was obvious. 2008 US recession, Canada brought the interest rates to 0% despite its economy doing super well. Every boomer retard in this shithole country threw their money into real estate and that wealth is getting erased hard right now. Everyone was thinking it can’t crash same as the retards that thought btc broke 100k and so it can’t crash. My boomer mom bought in a wealthy area and for a long time expected some rich immigrant to buy the house despite having a whopping forgein buyer tax of 20%. All that wealth is being erased because she got too greedy and just kept holding for like 10 fucking years. Now with inflation the house is worth less than 10 years ago. Now the funny part is that she reverse mortgage it, and will keep chasing the price down over the next few years instead of selling it immediately
>>537297468if all of us default, they can't take all our houses!
>>537303706That sucks ass,sincerely sorry to hear that. IMO it’s not his fault, I call that predatory lending, the banks knew we were in a bubble yet kept throwing bills out fresh from the printer for homes for everyone even though they knew most wouldnt be able to afford it long term. I saw most boomers were betting on higher resale of homes to fund retirement and could see that’s a great game until it’s not because the market can’t always go up. I know a younger rancher who is 100 million in the hole and has nothing but some land left, he didn’t have anything when they gave him the money so I don’t know how they expected to get it back.Thats kinda why I tried to buy what I could afford, not what the bank would give me.
>>537303902The tax sale inventory will be huge in that scenario.
I'm genuinely so exhausted from this country. Median income of Canada is 40k/yr with $2M houses. Same retarded CSIS pajeets in every Canada thread.
>>537297468>I wonder why?
>>537297468leafs got plenty of trees. they can't build sum houses? Or better yet, apartments?
Canada's a massive shithole where the state openly brags on their taxpayer funding propaganda media that immigrants and foreigners are claiming the country for themselves and locking Cucknadians out of their own country. Canadians are dumb and docile enough that they will vote Liberal once again.
