General A thread to discuss the incoming housing bust

Welcome to our Community
Wanting to join the rest of our members? Feel free to Sign Up today.
Sign up

Hauler

Been fallin so long it's like gravitys gone
Feb 3, 2016
45,414
57,814
Reserve Bank Australia rate has gone from 0.1% to 0.85% in just a month
75 bips is what the US should have done back in November. Or at minimum 50.

3 year bonds probably starting to look a little spicy if you got some cash sitting around.

Are your mortgage rates long term fixed or do they get adjusted every 5 years like the Crazy Canadians?
 

BrunoMcGyver

Bruno no dey carry last
Dec 30, 2015
6,395
10,265
75 bips is what the US should have done back in November. Or at minimum 50.

3 year bonds probably starting to look a little spicy if you got some cash sitting around.

Are your mortgage rates long term fixed or do they get adjusted every 5 years like the Crazy Canadians?
they did .25 last month and .50 yesterday.

no long term fixed here. You can go variable or choose fixed for between one and five years. I have variable so will get ass fucked quite a bit, I pay quite a bit more than my minimum though so at least It’s lubed up
 

Hauler

Been fallin so long it's like gravitys gone
Feb 3, 2016
45,414
57,814
they did .25 last month and .50 yesterday.

no long term fixed here. You can go variable or choose fixed for between one and five years. I have variable so will get ass fucked quite a bit, I pay quite a bit more than my minimum though so at least It’s lubed up
5 year resets sound so insane to me.
Any penalty for early payoff?

I'm so conservative with money I probably wouldn't buy a home until I could pay cash. Haha.
 

BrunoMcGyver

Bruno no dey carry last
Dec 30, 2015
6,395
10,265
5 year resets sound so insane to me.
Any penalty for early payoff?

I'm so conservative with money I probably wouldn't buy a home until I could pay cash. Haha.
Some shitty deals May still have early penalty, but most won’t nowadays
 

Hauler

Been fallin so long it's like gravitys gone
Feb 3, 2016
45,414
57,814
If anything it exposes Canada's corrupt pathway to home ownership. Adjustable rates are insane. Not allowing early payoff is criminal.

I mean - how do you budget for adjustable rates? You can't. It's a roll of the dice. Did Trudeau come up with this nonsense? I bet he did, that smiling fucker.
 

Enock-O-Lypse Now!

Underneath Denver International Airport
Jun 19, 2016
11,737
19,619
Yup it's gonna be bad, worse than 2008..everything is gonna tank.. lot of jobs gonna be lost ..repossessions galore...


Conspiracy side of me says this was all planned to make the people dependent on the Gooberment Goobers. I got the feeling they will give plenty of handouts to the people to help with the pain but if you want these handouts it will be paid only through their newly introduced CBDC - through a digital App....

Making way for that bullshit "Social Credit Score System" where everything is digitally tracked and monitored.

Go against the Goobers and badabing badaboon we shuttin dat ass down!


But time will tell if it plays out like that, what we do know for certain is that things are not going good ...FBJ! FBJ! FBJ!