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  #11241  
Old Posted May 21, 2020, 3:07 AM
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Originally Posted by Chadillaccc View Post
The only reason for this number being above 50% is because of the CERB and CESB saving so many people. It is the only reason I could afford my rent, and approximately 5 million other Canadians are in a similar shitty spot. The same people who claimed the “unwashed masses” would bounce their rent were the same ones who derided the government assistance. We’d have millions homeless by July if it wasn’t for the assistance.
Please save 2-3 months of rent in the bank. This is a bare minimum.

I had 3 months saved up by 16 because I was always afraid of getting kicked out.

And I and many others support assistance. Personally my only worry is that people will exploit it. And I know a few cases of exploitation where workers in essential industries refused to go to work including my own which is why I’m doing other people’s jobs currently. The benefit isn’t supposed to be for people who refuse to go to work but few seem to realize this. In the end some businesses have to be open and workers who refuse to and thus offload their work to others are selfish, that shouldn’t be rewarded. What if all our medical workers refused to go in?
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  #11242  
Old Posted May 21, 2020, 3:29 AM
kwoldtimer kwoldtimer is online now
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Originally Posted by misher View Post
Please save 2-3 months of rent in the bank. This is a bare minimum.

I had 3 months saved up by 16 because I was always afraid of getting kicked out.

And I and many others support assistance. Personally my only worry is that people will exploit it. And I know a few cases of exploitation where workers in essential industries refused to go to work including my own which is why I’m doing other people’s jobs currently. The benefit isn’t supposed to be for people who refuse to go to work but few seem to realize this. In the end some businesses have to be open and workers who refuse to and thus offload their work to others are selfish, that shouldn’t be rewarded. What if all our medical workers refused to go in?
They’d be considered to have left their jobs voluntarily and would not be eligible for emergency assistance, no?
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  #11243  
Old Posted May 21, 2020, 3:33 AM
Truenorth00 Truenorth00 is offline
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We discussed this in the other thread. Misher thinks government websites can simply be reprogrammed to do screening overnight. And he's okay with people ending up homeless while the checks happen. So....
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  #11244  
Old Posted May 21, 2020, 1:54 PM
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Originally Posted by kwoldtimer View Post
They’d be considered to have left their jobs voluntarily and would not be eligible for emergency assistance, no?
There not eligible but their still applying and getting it.

It’s been discussed before, the website doesn’t make it clear what makes you ineligible.
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  #11245  
Old Posted May 21, 2020, 2:24 PM
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There not eligible but their still applying and getting it.

It’s been discussed before, the website doesn’t make it clear what makes you ineligible.
??? The website says that people who have quit their job voluntarily are not eligible. If they have wrongly applied, the funds will be drawn back at some point.
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  #11246  
Old Posted May 21, 2020, 3:21 PM
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Originally Posted by kwoldtimer View Post
??? The website says that people who have quit their job voluntarily are not eligible. If they have wrongly applied, the funds will be drawn back at some point.
“Quit” refusing to go into work isn’t quitting.

How will the feds know which employees were laid off and which refused to go in?
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  #11247  
Old Posted May 21, 2020, 3:33 PM
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Originally Posted by misher View Post
“Quit” refusing to go into work isn’t quitting.

How will the feds know which employees were laid off and which refused to go in?
If you refuse to go to work and your employer considers that you've quit, you've quit (yes, there are exceptions). If what you describe is widespread, then many people are going to get a shock when they get their RoE. They may not only have to repay any emergency benefits but they may be ineligible for EI.
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  #11248  
Old Posted May 21, 2020, 4:25 PM
Truenorth00 Truenorth00 is offline
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Originally Posted by misher View Post
“Quit” refusing to go into work isn’t quitting.

How will the feds know which employees were laid off and which refused to go in?
Record of Employment (ROE).

Have you ever had a job? Serious question. This is basic stuff.
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  #11249  
Old Posted May 21, 2020, 4:56 PM
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Originally Posted by Truenorth00 View Post
Record of Employment (ROE).

Have you ever had a job? Serious question. This is basic stuff.
I actually didn't know that existed. My mistake.
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  #11250  
Old Posted May 21, 2020, 5:19 PM
Truenorth00 Truenorth00 is offline
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Originally Posted by misher View Post
I actually didn't know that existed. My mistake.
This is the nth time ROEs have come up on this forum. I'm starting to think either nobody here has a job, or has ever changed jobs, or has ever taken parental.
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  #11251  
Old Posted May 23, 2020, 1:41 PM
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This tiny home in backyard business in California is quite interesting. It’s $123k a unit which is much less than we pay to build a coach house here. It costs about $350k for a laneway house so likely about $240k for a unit with the same design as what’s being built in Cali. Just shows how much cheaper it is to build outside Vancouver.

https://www.businessinsider.com/affo...housing-2020-5
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  #11252  
Old Posted May 23, 2020, 3:00 PM
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This thread is little more than somebody's soapbox (or rather, sandbox).
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  #11253  
Old Posted May 23, 2020, 3:07 PM
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Remax contradicting CMHC's dire warning based on a worst-case scenario. Please don't reply with the fact they have a conflict of interest, I think we all know that and any prediction should be taken with a grain of salt. But in the end, just like we generally read stockbrokers opinions, obvious we're going to read real estate company's opinions. That doesn't mean we suddenly buy when they say buy.

I do think Remax makes a good point. What seller will accept a 18% reduction unless he absolutely has to. Its not like your suddenly going to go out and sell your car, especially if it goes down 18%. Some people may be forced to sell depending on how this recovery goes but that won't happen until Sept or later when mortgages come due. And by then hopefully we'll have mostly recovered. Its possibly a good thing that prices went down in Vancouver from late 2018-2019, its helped make the local RE market more resilient as we've already had our correction so rather than a big drop we will likely only see a small one.

Remax gives a region by region overview at the end and its worth a read. Not all of the news is good.

Quote:
Canadian real estate kicked off 2020 with a bang, but there are conflicting opinions as to how we’ll finish out the year. Canada’s federal housing agency has warned that average house prices could fall by up to 18 per cent over the next 12 months – a dismal prediction that’s being challenged by RE/MAX based on market activity from coast to coast.

Basic economics has taught us that supply and demand dictates housing prices, and according to what RE/MAX brokers are reporting at ground level, housing inventory is down in many markets, demand is still high, and multiple offers are a common scenario. Assuming that demand continues its current course, Canadian real estate prices will likely remain relatively stable or experience a single-digit price correction at worst – which is a far cry from CMHC’s dire decline of up to -18 per cent.

“CMHC doesn’t seem to understand the sheer number of sellers that would have to accept this kind of price reduction, in order for average housing prices to plummet to this degree in such a short time span,” says Christopher Alexander, Executive Vice President and Regional Director, RE/MAX of Ontario Atlantic Canada. “Sellers simply won’t accept that kind of discount on their listings. A statement of this nature is panic-inducing and irresponsible.”...

According to this recent article published by The Globe And Mail, CIBC said Canadian real estate prices could fall between five and 10 per cent this year compared to 2019. Similarly, RBC forecasts a decline of seven per cent, while BMO expects a five-per-cent decline.

“[Mr. Siddall] said that all these things will happen if the economy ‘does not recover sufficiently.’ That’s a very broad statement,” CIBC deputy chief economist Benjamin Tal told The Globe And Mail. “Without looking at the assumption behind that statement regarding GDP growth, unemployment rate and so on, it is very difficult to assess the likelihood of such a prediction. Is it a worst-case scenario, or the base case? I think he was highlighting a worst-case scenario,” he said.

A single-digit decrease in house prices can be classified as a correction, and is a far cry from CMHC’s trough of -18 per cent.


https://blog.remax.ca/no-nosedive-ah...prices-re-max/
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  #11254  
Old Posted May 23, 2020, 3:52 PM
WarrenC12 WarrenC12 is online now
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Originally Posted by MolsonExport View Post
This thread is little more than somebody's soapbox (or rather, sandbox).
A sandbox where he keeps digging up old cat turds and showing everybody.
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  #11255  
Old Posted May 23, 2020, 5:54 PM
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A sandbox where he keeps digging up old cat turds and showing everybody.
"Look ma, I found a tootsie roll"
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  #11256  
Old Posted May 23, 2020, 7:08 PM
milomilo milomilo is offline
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Quote:
Originally Posted by misher View Post
Remax contradicting CMHC's dire warning based on a worst-case scenario. Please don't reply with the fact they have a conflict of interest, I think we all know that and any prediction should be taken with a grain of salt. But in the end, just like we generally read stockbrokers opinions, obvious we're going to read real estate company's opinions. That doesn't mean we suddenly buy when they say buy.
Actually no, anyone interested in making money should not do that. Not only are stock brokers as likely, at best, as a coin toss to make the right call, as soon as their opinion is released to the public then that knowledge is embedded in the price.

I treat anyone who is in the real estate industry's opinion with virtually no value, negative value in fact. It is literally their job to attract more money into the industry - if they were not doing that then there would be no money and jobs for them.
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  #11257  
Old Posted May 23, 2020, 7:18 PM
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May 23rd Greater Vancouver update:

Quote:
Greater Vancouver average daily homes sales this week were 93, new listings 243 - last week 69 & 169, the week previous 58 & 168 respectively.
https://mobile.twitter.com/kevinskip...96844935643136

May 2019 2638 sold, 2018 2833. So we’re back to normal for sales but lists were higher than normal.
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  #11258  
Old Posted May 23, 2020, 8:09 PM
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Misher Minutiae.
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  #11259  
Old Posted May 23, 2020, 8:42 PM
yaletown_fella yaletown_fella is offline
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Originally Posted by misher View Post
Please save 2-3 months of rent in the bank. This is a bare minimum.

I had 3 months saved up by 16 because I was always afraid of getting kicked out.

And I and many others support assistance. Personally my only worry is that people will exploit it. And I know a few cases of exploitation where workers in essential industries refused to go to work including my own which is why I’m doing other people’s jobs currently. The benefit isn’t supposed to be for people who refuse to go to work but few seem to realize this. In the end some businesses have to be open and workers who refuse to and thus offload their work to others are selfish, that shouldn’t be rewarded. What if all our medical workers refused to go in?
Because Not everyone is a unionized employee making good money with guaranteed hours.

It's makes no sense for contract workers like me to return full time only to get a 40% smaller paycheck.

Normally my work pays more than CERB but 40% of the businesses we service are going to close, downsize, or shrink their marketing expenditure and no longer do business with us.

It makes more sense to return on a part time basis and make (-)$1000

I want to return to work, and Im returning part time on June 1st, but I'm not willing to risk anything.
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  #11260  
Old Posted May 23, 2020, 9:43 PM
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Lowest mortgage rate now 1.85% 5 year variable with Butler. (Note this is inclusive of the cash back).

Overall rates are trending downward with several below 2%.
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