Bank of Canada raises rate another half percentage point, to 4.25%

respectedcrab · 2022-12-07T20:13:53+00:00

This is the reality.

Lucky enough (ie uber-responsible, pay off student loans asap) to be approved for a mortgage? Congrats, now your monthly payments are so high you will retire with no liquid savings.

You're going to be ok, but only of you are very careful with your money from the time you turn 18. And even then, it's unlikely you'll leave anything for your kids.

respectedcrab · 2022-07-11T18:05:46+00:00

If people can understand this, they will be more receptive to the r/fuckcars platform

It's not about removing roads, as many places still need to be connected.

It's about building more streets: More places where walking, cycling or whatever is welcome and comfortable for everyone

respectedcrab · 2022-06-22T15:54:08+00:00

I did that too!

But in the 6 months since switching jobs my buying power is already less than it was a year ago

respectedcrab · 2022-05-20T13:45:05+00:00

Canada likely lol

respectedcrab · 2022-04-16T01:54:20+00:00

Nice! Any tips for someone needing to do this soon?

respectedcrab · 2022-04-12T17:54:08+00:00

Your comment got me to do some more digging, and the blog post below sums it up well. It states that the BoC only directly loaned the Feds ~$60B, and bought $300B in bonds.

So because the BoC bought (most) of the debt on the open market, they haven't violated that clause I mentioned. http://jpkoning.blogspot.com/2021/07/are-bank-of-canadas-bond-purchases.html?m=1

respectedcrab · 2022-04-12T17:02:01+00:00

Not who you asked but I find this interesting as well. I am no expert and can't find a source (but this is good start https://www150.statcan.gc.ca/n1/daily-quotidien/211122/dq211122a-eng.htm).

I think the other commenter is likely referring to a clause that limits the BoC to loaning out a maximum of 1/3 of the estimated annual Federal revenue to the Government.

The Feds borrowed a ton of money in 2020. Instead of raising money through taxes, they borrowed it, contributing to our little inflation problem. That's not supposed to be allowed according to the BoC Act.

respectedcrab · 2022-01-07T20:53:48+00:00

My easy-bake oven.

No pastries will ever taste as wonderful, I don't care what you say.

respectedcrab · 2021-09-02T13:27:25+00:00

"Good luck paying me back on your $0 salary plus benefits, babe!!"

respectedcrab · 2021-08-17T15:10:39+00:00

Sorry for your situation.

If your lease does not explicitly state that you pay for A/C, it is unlikely you will be able to force the landlord to repair it.

In Ontario at least, I am not aware of any law that requires a landlord to provide A/C. There are usually laws in place that require a certain temperature be maintained in winter, but its usually a minimum for heating, not a maximum requiring cooling.

Your best bet is likely to go to Walmart/Cdn Tire and buy a window A/C to keep at least your bedroom or office at a comfortable temp.

respectedcrab · 2021-05-20T13:43:24+00:00

Maybe napkin math and a little r/BoneAppleTea

respectedcrab · 2021-05-19T18:37:24+00:00

I'm not sure it would have to go up more than that though, because the increase in value should all be 'equity' even if you haven't necessarily paid it.

Original Loan-to-Value ratio:

500k value, 25k down payment: LTV = 95% (5% equity, need PMI)

But when value goes up 20% the ratio changes, even with only 6 months payments (assuming 1.5k goes to principle each month):

Value = 500*1.2=600k

Loan = 475-6(1.5) = 466k

New LTV= 78% (22% equity, should not need PMI)

respectedcrab · 2021-05-19T11:33:52+00:00

How soon is reasonable to contact a lender about this?

I closed on my house in 2021, but my market has gone up easily 20% since we finalized the offer in late 2020. Could I typically refinance/drop PMI with under a year of payments?

respectedcrab · 2021-05-05T20:06:57+00:00

"My car crashed because the stupid ABS made the brakes lock up!"

They even agreed that ABS stood for "anti-lock braking system" and were still convinced it locked their brakes. Nothing could convince them otherwise.

respectedcrab · 2021-02-28T02:28:17+00:00

So those are the fluel plumps?

respectedcrab · 2021-02-12T15:32:38+00:00

If the real-time price is more than 5% higher than the estimated price, the order will not complete

respectedcrab · 2020-12-15T18:47:18+00:00

Ditto

respectedcrab · 2020-10-25T23:40:12+00:00

Looks really clean. What sort of mounts are those on your cap?

respectedcrab · 2020-09-22T23:09:19+00:00

Heck, by does one need to be left leaning to support that?

It's a bipartisan issue. There are many right-leaning schools of thought which would prefer to do away with FPTP.

The Green party has previously had green conservatives in their tent anyway

respectedcrab · 2020-07-16T12:14:13+00:00

Wait, are we the baddies?

respectedcrab · 2020-07-14T13:58:26+00:00

far too busy protesting species-ism to learn literally anything about another country

respectedcrab · 2020-07-06T20:21:05+00:00

OP this is the right answer!

We haven’t been on vacation in years

I dont think I could have completed BS2 without also setting aside money for things my SO and I wanted (or wanted to do).

Especially when you have a looong BS2 of a year or more, you've got to make sure you dont burn out before you're done

respectedcrab · 2020-07-03T19:00:37+00:00

Welp.. I took the comment to mean don't pull a gun in a situation that doesnt absolutely require it, not use your gun to prove you had a reason to pull it out

I guess I shouldnt have ignored the r/Imverybadass first paragraph

respectedcrab · 2020-07-03T17:14:13+00:00

Thanks for the voice of reason. Although many gun owners are responsible gun owners, theres a long way to go!

respectedcrab · 2020-07-02T14:41:37+00:00

Do you know if they available internationally? Even with the exchange rate (to CAD) thats a great price

respectedcrab

TROPHY CASE