In the short run luxury asset prices and home prices cease to increase or increase at a much lower rate.. In the long run, unemployment goes up (because it's more expensive for companies to do business, issue debt, etc) and luxury asset prices can tank. If there is a large negative effect on crypto (sell crypto buy credit with much higher returns than today) this could all be accelerated.
When easy money goes away…
The fed will be raising interest rates another 6-7 times in the next 12 months.
inflation at 7.9%
mortgage rates in one year will be around 6-8%
loan rates will be brutal
what’s your opinion of what happens when the hot potato game ends(skyrocketing lambo prices) and the easy money is gone?
will the flippers get nailed? Forced into liquidation? Are they hooked on a second mortgage to finance their Lambos?
should be fascinating to observe
inflation at 7.9%
mortgage rates in one year will be around 6-8%
loan rates will be brutal
what’s your opinion of what happens when the hot potato game ends(skyrocketing lambo prices) and the easy money is gone?
will the flippers get nailed? Forced into liquidation? Are they hooked on a second mortgage to finance their Lambos?
should be fascinating to observe
1 - 20 of 1063 Posts
The guys who bought SVJ's for a million dollars+ are going to realize the meaning of a bag holder.
There's a lot of people who got drunk of cheap and blindly bought assets at the peak. The days of cheap money are basically over and reality is going to be brutal for a lot of people.
There's a lot of people who got drunk of cheap and blindly bought assets at the peak. The days of cheap money are basically over and reality is going to be brutal for a lot of people.
I'm not sure if in Canada it's going to be so drastic. Inflation is at 5.1%. Mortgage rate expected to go up.25% which is one less pizza a month.
Gas however is crazy, got my car out first time this year and I went to fill it up, 107$! I used to take rides all the time and filling up 2-3 times a week, I think I'm going to drive it a little less this year.
Gas however is crazy, got my car out first time this year and I went to fill it up, 107$! I used to take rides all the time and filling up 2-3 times a week, I think I'm going to drive it a little less this year.
You think that buying a million dollar car that he cares that much? Isn't it FU money for him?The guys who bought SVJ's for a million dollars+ are going to realize the meaning of a bag holder.
There's a lot of people who got drunk of cheap and blindly bought assets at the peak. The days of cheap money are basically over and reality is going to be brutal for a lot of people.
i don’t know about that. You would think so, but everywhere I look around me, I see people living WAY above their means by any reasonable measure. Makes me feel I’m living downright modest.You think that buying a million dollar car that he cares that much? Isn't it FU money for him?
I think we are going to see a lot of housewives having to look for work again.
Lol, please don't be like the average Canadian sheep. The BoC is hiking the rate 6-7 times this year, do the math. RE has gone up by almost 50% since the pandemic started, there's actually places that have gone up almost a 100%. This is not normal for any market especially for the RE market which goes hand in hand with interest rates.I'm not sure if in Canada it's going to be so drastic. Inflation is at 5.1%. Mortgage rate expected to go up.25% which is one less pizza a month.
Gas however is crazy, got my car out first time this year and I went to fill it up, 107$! I used to take rides all the time and filling up 2-3 times a week, I think I'm going to drive it a little less this year.
Using your HLOC because your house has gained 100% since the pandemic to buy cars is not FU money. There's a reason why Canada now has one of highest household debt loads of any G7 country.You think that buying a million dollar car that he cares that much? Isn't it FU money for him?
I will agree with you on that thought ....i don’t know about that. You would think so, but everywhere I look around me, I see people living WAY above their means by any reasonable measure. Makes me feel I’m living downright modest.
Pure stupidity.....some people will get destroyed.Using your HLOC because your house has gained 100% since the pandemic to buy cars is not FU money. There's a reason why Canada now has one of highest household debt loads of any G7 country.
Expensive cars should only be bought if you really can afford....in other words you have the cash at hand.
These are not a to b cars that cost 30 k .
In my locale, real estate taxes have gone up 20-30%
That equates to thousands in the pocket book that will NEVER be given back.
Heck, just the principal alone makes me want to get rid of my health club membership, cable TV, extra phone, etc. all to make a point.
I think Elon had the right idea… liquidate everything and own nothing
That equates to thousands in the pocket book that will NEVER be given back.
Heck, just the principal alone makes me want to get rid of my health club membership, cable TV, extra phone, etc. all to make a point.
I think Elon had the right idea… liquidate everything and own nothing
Angel they don’t care they raise taxes ...insurance so on...we are the suckers that we continue to pay the bills.
Bienvenidos a mexico people
lol
hedge funds buying investment grade collector cars to hide capital
housing market will plunge but not as bad as 2007
the upper 1% will peck the flesh and swallow the bones
lol
hedge funds buying investment grade collector cars to hide capital
housing market will plunge but not as bad as 2007
the upper 1% will peck the flesh and swallow the bones
We don't know if he borrowed money or he has it in his bank account. Not everyone is overspending, some have a whole lot just sitting in the bank. I know one thing I see a whole lot of millionaires where I am, people don't realize they are because they don't show it but just looking at the business sign I know.Using your HLOC because your house has gained 100% since the pandemic to buy cars is not FU money. There's a reason why Canada now has one of highest household debt loads of any G7 country.
I can't do the math I know nothing about RE. It makes sense to you because you must be involved in RE, you know and see things I don't. I'm the small guy on the ground floor. I bought my house 12 years ago and now it's supposed to be worth almost 3 times as much but it doesn't change anything in my life, I still have the same mortgage payment and my interest rate just dropped for the year.Lol, please don't be like the average Canadian sheep. The BoC is hiking the rate 6-7 times this year, do the math. RE has gone up by almost 50% since the pandemic started, there's actually places that have gone up almost a 100%. This is not normal for any market especially for the RE market which goes hand in hand with interest rates.
If you see people borrowing against their house and overspending and over extending sure I see your point but I've never had any debt since I was 18 except the house. Maybe that's why I don't see people having money problems, I only buy things if I have it in my bank account.
I wonder if Lamborghini makes an RV? I’ve seen some real nice Mercedes sprinter vans.Angel they don’t care they raise taxes ...insurance so on...we are the suckers that we continue to pay the bills.
F paying real estate taxes. Upkeep. Utilities. Plowing the driveway. Mowing the lawn. School district taxes.
Seems I’m much like you are, the only changes I’m making and will continue make will be my investment approach. I’m debt free and have always pay cash. Nothing owns but the government, lol.I can't do the math I know nothing about RE. It makes sense to you because you must be involved in RE, you know and see things I don't. I'm the small guy on the ground floor. I bought my house 12 years ago and now it's supposed to be worth almost 3 times as much but it doesn't change anything in my life, I still have the same mortgage payment and my interest rate just dropped for the year.
History is doomed to repeat itself. Funny people have short-term memories don't remember 2008.
January 2008
Sold a bunch of stocks to buy my first home got a firesale deal from my friend who was relocating his family to Vancouver. Saved 6% straight up as a FSBO transaction.
Bought my first Porsche 997 C2S that was 5 months old with 2000 miles for 20% off MSRP original owner lost his pants in the stock market.
Remember Scuderia's at my dealer going for firesale prices. Dealer had to park cars outdoors on the roof due to overstocked inventory
Friends over reached on their dream homes with ARM's then lost their pants when interest rates ballooned and banks wanted their coin.
2022-23 looks a lot like 2008 and may end up being worse.
January 2008
Sold a bunch of stocks to buy my first home got a firesale deal from my friend who was relocating his family to Vancouver. Saved 6% straight up as a FSBO transaction.
Bought my first Porsche 997 C2S that was 5 months old with 2000 miles for 20% off MSRP original owner lost his pants in the stock market.
Remember Scuderia's at my dealer going for firesale prices. Dealer had to park cars outdoors on the roof due to overstocked inventory
Friends over reached on their dream homes with ARM's then lost their pants when interest rates ballooned and banks wanted their coin.
2022-23 looks a lot like 2008 and may end up being worse.
So knowing what you know now, what sort of stuff are you doing to prepare for this? any recommendations? I'd love to see some recommendations and advice in this thread.History is doomed to repeat itself. Funny people have short-term memories don't remember 2008.
January 2008
Sold a bunch of stocks to buy my first home got a firesale deal from my friend who was relocating his family to Vancouver. Saved 6% straight up as a FSBO transaction.
Bought my first Porsche 997 C2S that was 5 months old with 2000 miles for 20% off MSRP original owner lost his pants in the stock market.
Remember Scuderia's at my dealer going for firesale prices. Dealer had to park cars outdoors on the roof due to overstocked inventory
Friends over reached on their dream homes with ARM's then lost their pants when interest rates ballooned and banks wanted their coin.
2022-23 looks a lot like 2008 and may end up being worse.
I own a sprinter van but not a rv...the sprint rv are nice.I wonder if Lamborghini makes an RV? I’ve seen some real nice Mercedes sprinter vans.
F paying real estate taxes. Upkeep. Utilities. Plowing the driveway. Mowing the lawn. School district taxes.
Not a bad idea to live in one.
1 - 20 of 1063 Posts
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