Housing price Crash

[farmaholic]

I'm not sure how were Uber insulated either.



We have a mortgage utilities need food and gas and everything else a family in the city does plus the capital costs of equipment buildings and land and that $700,000 a year to seed weed and grow a crop.


I could honestly just farm 3 or 4 quarters keep 20 cows and go boring 7 months of the year and make way more money have zero stress and actual time for my family.



Farming big acres only to break even and keep every other retailer and supplier happy while we stress out every penny and paying our bills seems more and more retarded by the day.

Klaus, Separate the jobs we do for a living from the living costs. That's were I believe we were making the "uber insulated" comparison. I bet you write most of your utilities off, the "farm" buys alot of people's fuel, lower house taxes, can be somewhat self sufficient in food if you so desire. I'm sure there's more...

[ajl]

How in gods name does that make us anywhere near the middle east?

As was said to another user on this forum who likes to call this "the worst place in the world to live"

theres a lot of countries (including 'stan ones) that you harrows would trigger a land mine in to this day

sure theres a lot of things going on here that we don't like.

but don't disrespect the men and women whove died to make country what is by referring to us in this manner

thank you

The direction the country is on is definitely disrespect to those who fought and died for it. I don't see anything changing anytime soon so am a western separatist. People in this country are completely addicted to government handouts and I will admit there are subsidies at this house as there are at yours so yes I do contribute to the problem. I also have $Cdn denominated savings which get pillaged every year by the government manufacturing inflation to keep what is left of the Canuskistanian economy afloat and so contribute more to this country than many do. Have US assets to survive as well

[hobbyfrmr]

Klaus, Separate the jobs we do for a living from the living costs. That's were I believe we were making the "uber insulated" comparison. I bet you write most of your utilities off, the "farm" buys alot of people's fuel, lower house taxes, can be somewhat self sufficient in food if you so desire. I'm sure there's more...

Ha ha!! Lots of non farming people talk like that.

“You’re lucky, you can write it off” .

I don’t understand that statement. I have to have enough money to actually buy and pay for the goods I use. If they are legitimate expenses for farming that is not my fault.
I often suggest folks create a small business so they can use office and tools as a direct expense against their income. Very few people that I know do this.

I do consider these folks lucky because they can kiss my ass and I can’t.

[furrowtickler]

We supply the local economy with a massive cash infusion every year we farm.
Wage earners do not for the most part.
The few perks we do get pale in comparison to the money we farmers pump into the local economy each and every year .
So handouts to farmers ...... they get far more back than what we receive .

[blackpowder]

Thats the problem with a chip on the shoulder. It suppresses empathy and amplifies tunnel vision.

[SASKFARMER3]

Sad if housing does cras and not if when it happens lit will be ugly credit will evaporate and that will hurt farming then those wannabe city investors will come crying selling the farm land to keep the city life going.

That’s a positive as you are in control and squeeze them but if your a BTO with no cash your also not buying as bank is saying wow sunny your done also.

It would be a blood bath so they will keep the thing going for a while longer

[farmaholic]

There is a personal deduction made from business expenses here.

[Bowerpower]

I can definitely see a crash happening. Hopefully not a crash but a softer correction..... It won’t be good for anybody. The ripple effects would be huge and would affect everybody badly. But I’m a cynic and feel government policy and our so called bright central bankers don’t have a clue how this debt bubble will play out.

[biglentil]

The cost of printing a $100 bill is said to be 17 cents. Must be nice to have privelege to print and collect interest from sovereign nations such as Canada. If Canada were to pay it off there would not be any money in circulation. Hmmmm quite the deal.

[Klause]

And so it begins...


https://www.thestar.com/business/2018/04/04/they-bought-their-prebuilt-homes-at-the-markets-peak-now-they-face-financial-ruin.html https://www.thestar.com/business/2018/04/04/they-bought-their-prebuilt-homes-at-the-markets-peak-now-they-face-financial-ruin.html

[Richard5]

And so it begins...


https://www.thestar.com/business/2018/04/04/they-bought-their-prebuilt-homes-at-the-markets-peak-now-they-face-financial-ruin.html https://www.thestar.com/business/2018/04/04/they-bought-their-prebuilt-homes-at-the-markets-peak-now-they-face-financial-ruin.html

I have a hard time believing, understanding this article. Why are some of these people selling their previous home in the first place???

Its probably an ego, a lexus, BMW or Denali in the driveway. Living way beyond their means in the first place - Partly because they can because financing companies never say no and partly because of the scam of the century - Leasing!

If people could just learn to understand finances and managing money....am VERY worried about the 20-30 year olds of today and what will be left in 10 years when I want to be out of the working world

[Oliver88]

I think the article is sour g****s for families who happened to upgrade homes near the peak price.
We likely won’t read articles of families that sold second properties at the peak and cashed in.

Nobody forced them to make the purchase but it’s common in cities for families to upgrade homes once or twice I’ve noticed.

[farmaholic]

What have been the personal consequences of people living beyond their means? Bankruptcy, a clean slate and some restrictions....no shame?

If they never intend on paying the debt off what's stopping them?

[samhill]

The institutions/people administering this environment are making tons. Governments are taxing/operating on mountains of money and administrators with expense accounts and vehicle allowances etc enjoy careers.
Who would want to change this? the grunts are paying for it.
Can't see things changing except tougher on the bottom and better on the top.
Lots of complaining but no action.

[hobbyfrmr]

I think the article is sour g****s for families who happened to upgrade homes near the peak price.
We likely won’t read articles of families that sold second properties at the peak and cashed in.

Nobody forced them to make the purchase but it’s common in cities for families to upgrade homes once or twice I’ve noticed.

Excellent point. My sister in law and brother in law bought a modest starter house in Saskatoon 20 years ago. They fixed it a little the the market went up. They sold for very good profit, took that profit bought a distressed sale in very good neighbourhood. A decade later they found an acreage they desired, sold the big city house for modest profit and now have a strong equity position on their acreage. I have a lot of respect for people who have discipline and succeed. Obviously that is an extremely boring news story.