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#31 Monty

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Posted 05 September 2012 - 10:00 AM

$109,469.53 left on my mortgage, that's it. Wife and I paid off our $25,000 line of credit last year, student loans were paid off a year after we graduated. No leases or anything. Very fortunate.
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Kinda hot in these rhinos.

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#32 SukhKular

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Posted 05 September 2012 - 10:04 AM

studies have shown house value barely beats inflation at the best of times.

Look up the Herengracht Amsterdam study which showed over the course of 300+ years prime real estate barely beat inflation.


When I buy my first home, I probably won't consider what it's value would be in the year 2312. I guess I'm one of the idiots. :rolleyes:
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I'm saying Aladeen a lot because http://forum.canucks...dpost__10922428

View Postdajusta, on 27 March 2012 - 12:28 PM, said:

I bet when Schneider turns 38, he will have broken all of Luongo's records.

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#33 TOMapleLaughs

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Posted 05 September 2012 - 10:09 AM

http://www.calgaryhe...4043/story.html
Bank of Canada holds interest rate at 1%, expects growth for 2013. The export sector is particularly weak, due to weak foreign demand (the US still hasn't gotten it's act together.)

As long as the US has a weak economy, our interest rates will remain low.

Otherwise, the main reason to raise interest rates is to prevent a major housing bubble (One that already exists in the lower mainland, but whatever), but there are signs that the housing market is slowing, nationally.

Meanwhile, we'll have to chug along and pay our personal debts as we can. (Banks are to blame for it, btw. They were handing out credit lines like candy, but now they're like, 'Hey, why you so bankrupt?')
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#34 Carpe Diem

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Posted 05 September 2012 - 10:44 AM

not all debt are created equal.

Credit card bills so that you can have the latest Iphone is bad.

Debt so that you can get trained for a career, or for that car that gets you to your work, thats fine.

Edited by Carpe Diem, 05 September 2012 - 10:45 AM.

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#35 Carpe Diem

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Posted 05 September 2012 - 10:44 AM

.

Edited by Carpe Diem, 05 September 2012 - 10:44 AM.

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#36 Nathan MacKinnon

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Posted 05 September 2012 - 10:49 AM

20" :bigblush:
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+1 this post!

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#37 لني

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Posted 05 September 2012 - 11:03 AM

When I buy my first home, I probably won't consider what it's value would be in the year 2312. I guess I'm one of the idiots. :rolleyes:


You missed the point.

Over the course of 300 years it barely beats inflation. That means in 300 there are swing between growth in equity and reduction in equity.

Proves the "house prices always rise" and "houses are the best investment" ideas are not true.

Edited by لني, 05 September 2012 - 12:10 PM.

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View Postnhlconspiracy, on 21 April 2011 - 02:05 PM, said:

It is not my intent to get in circular arguments with anybody. The reason i have avoided saying anything specific is because i know you or someone else will attempt to find an alternate explanation to my points which i intern will have to defend. I see no point in getting involved with the circular argument that is already well under way in this thread. I simply intended to voice my opinion on the subject. In the end either you accept the possibility of corruption and conspiracy or you don't.

Also i find your comments to be very childish. Does taking what i say out of context, paraphrasing and misquoting it make you feel good about yourself? Grow up.

Logic at its finest.

#38 Down by the River

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Posted 05 September 2012 - 11:41 AM

Right now, I have no debt. However, I'm now into my 7th year of school (first year of my PhD) and I have a feeling things are going to start to take a turn. I haven't touched my $40,000 line of credit, but with car insurance expiring and tuition due this month......

I had been quite proud of myself for not getting into debt, but kind of disappointed in myself that I didn't plan better for the coming year.
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#39 Sharpshooter

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Posted 05 September 2012 - 11:52 AM

About $16k....but that generally fluctuates because of my lines of credit and credit cards which I use mostly for business, inventory, and other related expenses. Debt and credit and payments of that debt are a monthly cyclical routine for me. Other than that I probably have currently about a $1k in other debts from personal credit cards, but i'm ok with that, as they'll get paid off before I use them again. House was passed down to me so no debt there other than monthly bills and taxes and other expenditures.
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#40 SukhKular

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Posted 05 September 2012 - 12:23 PM

You missed the point.

Over the course of 300 years it barely beats inflation. That means in 300 there are swing between growth in equity and reduction in equity.

Proves the "house prices always rise" and "houses are the best investment" ideas are not true.


I used a house as an example of a good investment. All I know is with the way the economy has gone since I've been old enough to pay attention, a house is a good investment.

I haven't read the studies you've read so obviously I can't really debate it with you.

I'll read up on it for sure, though.
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I'm saying Aladeen a lot because http://forum.canucks...dpost__10922428

View Postdajusta, on 27 March 2012 - 12:28 PM, said:

I bet when Schneider turns 38, he will have broken all of Luongo's records.

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#41 لني

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Posted 05 September 2012 - 12:32 PM

I used a house as an example of a good investment. All I know is with the way the economy has gone since I've been old enough to pay attention, a house is a good investment.

I haven't read the studies you've read so obviously I can't really debate it with you.

I'll read up on it for sure, though.


Its worthwhile. Would probably save a few people from making purchased that will end up costing them.

Houses "can" be a good investment and they "can" also financially ruin someone. Just ask some of the Americans or Irish that lost everything when their housing bubbles collapsed.

For another good read google Vanity Fair Irish eyes are crying for fantastic read on the spectacular rise and the stunning crash of the Irish housing backed economy.
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View Postnhlconspiracy, on 21 April 2011 - 02:05 PM, said:

It is not my intent to get in circular arguments with anybody. The reason i have avoided saying anything specific is because i know you or someone else will attempt to find an alternate explanation to my points which i intern will have to defend. I see no point in getting involved with the circular argument that is already well under way in this thread. I simply intended to voice my opinion on the subject. In the end either you accept the possibility of corruption and conspiracy or you don't.

Also i find your comments to be very childish. Does taking what i say out of context, paraphrasing and misquoting it make you feel good about yourself? Grow up.

Logic at its finest.

#42 shawn antoski

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Posted 05 September 2012 - 01:06 PM

..

Edited by shawn antoski, 05 September 2012 - 01:14 PM.

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#43 shawn antoski

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Posted 05 September 2012 - 01:13 PM

zero debt
-never got a credit card
-started earning and saving when I was 15
-left the province to go where the best opportunities were (after 94 playoff defeat)

-never buy a brand new car,and never lease.... just get one thats a year old from the states(so cheap compared to here) I have never lost any money on a car ever in my life(owned about 10), I actually end up making a profit sometimes if i sell the car after a year or so

-real estate is your friend
-not here in Vancouver anymore but go to Saskatchewan that place is booming like Alberta

Edited by shawn antoski, 05 September 2012 - 01:13 PM.

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#44 Ryanstorm

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Posted 05 September 2012 - 02:06 PM

I got debt and it keeps rising with interest. I hate it.
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#45 hockeyfan87

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Posted 05 September 2012 - 02:49 PM

Half a million. It sounds preposterous but it doesn't keep me up at night. I think this thread shows that CDC isn't very representative of Canadians at all. People who have kids, ambition, and other responsibilities tend to incur debt one way or another. They are also people who can't afford the luxury to spend time cruising online forums like us. I think Debb's post was spot on.
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#46 goneforever

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Posted 05 September 2012 - 02:51 PM

Ha, you made me look!
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#47 Totes McGoats

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Posted 05 September 2012 - 02:59 PM

I have about 20k of unsecured debt. Thanks wife!
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#48 لني

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Posted 05 September 2012 - 03:00 PM

Half a million. It sounds preposterous but it doesn't keep me up at night. I think this thread shows that CDC isn't very representative of Canadians at all. People who have kids, ambition, and other responsibilities tend to incur debt one way or another. They are also people who can't afford the luxury to spend time cruising online forums like us. I think Debb's post was spot on.


And there are those without debt who are ambitious and responsible. In fact the most ambitious and responsible are the ones that put there saving into investment in their teen years and were able to buy houses etc without incurring debt.
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View Postnhlconspiracy, on 21 April 2011 - 02:05 PM, said:

It is not my intent to get in circular arguments with anybody. The reason i have avoided saying anything specific is because i know you or someone else will attempt to find an alternate explanation to my points which i intern will have to defend. I see no point in getting involved with the circular argument that is already well under way in this thread. I simply intended to voice my opinion on the subject. In the end either you accept the possibility of corruption and conspiracy or you don't.

Also i find your comments to be very childish. Does taking what i say out of context, paraphrasing and misquoting it make you feel good about yourself? Grow up.

Logic at its finest.

#49 hockeyfan87

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Posted 05 September 2012 - 03:03 PM

And there are those without debt who are ambitious and responsible. In fact the most ambitious and responsible are the ones that put there saving into investment in their teen years and were able to buy houses etc without incurring debt.


I used the word "tend" to preface the fact that what I said didn't necessarily apply to everyone while you instead chose to make a generalization. The world isn't black and white, there are a lot of gray areas.
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#50 D-Money

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Posted 05 September 2012 - 03:41 PM

And there are those without debt who are ambitious and responsible. In fact the most ambitious and responsible are the ones that put there saving into investment in their teen years and were able to buy houses etc without incurring debt.


So, you're saying that a teen who put efforts into charities and volunteering wasn't the most ambitious?

Or one who cared for a sick/debilitated family member, or helped with siblings due to such circumstances, was not the most responsible?

Or one that put in the hard work, effort, and huge tuitions to complete their doctorate and be a neurosurgeon, wasn't the most ambitious or responsible because he had to incur debt to complete it?


...I have a brother-in-law who is insanely ambitious and responsible. He has been working his butt off since a teenager, hoping to be in a position to retire comfortably (multi-millionaire) by the age of 45. At times, his ventures incurred a lot of debt. He almost had to declare bankruptcy twice. But here he is, not even 40 yet, and well ahead of schedule.

So, trying to pigeon-hole a person as ambitious or successful based on debt level is pretty short-sighted. In fact, I would think the MOST ambitious people would be taking advantage of record-low interest rates to maximize their success.
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#51 Froggy Fresh

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Posted 05 September 2012 - 03:45 PM

I owe my mom $10
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#52 Danthecanucksfan

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Posted 05 September 2012 - 03:46 PM

Zero. And with the type of person I am, I'm unlikely to go into debt, I like living knowing that I am secure and stable. No Offence to any of you who do have debt, Im sure you have your reasons.
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#53 Grapefruits

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Posted 05 September 2012 - 03:47 PM

Then you still have debt. Equity on paper is not realized until its sold. So if your house is worth $500,000 40% mortgage is $200,000 debt.


Well if we are going to get technical, my debt sits just under $165,000. House is valued at somewhere around $525,000. My mortgage amount is higher than the $165 #, but I also have money in the bank that's invested to offset the cost of my mortgage.
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#54 Dragonfruits

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Posted 05 September 2012 - 03:54 PM

no debt as of now paid everything off with my video game collection and up 75 dollars but unemployed living off ei and soon cpp disability hopefully
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#55 Remy

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Posted 05 September 2012 - 05:40 PM

Just upwards of 30k, all student debt. Working two jobs, but life is bloody expensive so I'm able to tread water, but not much else.

And yes, I often have stress/anxiety and trouble sleeping because of it.

The person from the article certainly does not represent me or my situation. I will not dig a hole because of Christmas and vehicles for other people, that seems absurd. I did invest in an education and, as a recent graduate, I just have to remind myself that it's a long-term plan.
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#56 Venom52

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Posted 05 September 2012 - 05:41 PM

I've never been in debt. Always had enough money saved up to pay for my car, truck, and rent money on time.
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#57 CIA

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Posted 05 September 2012 - 06:07 PM

about 285k including mortgage, credit line, cc, student loans.

dammn..

and for sure i stress about it. that's a lot of frickin money.

Edited by CIA, 05 September 2012 - 06:08 PM.

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#58 sixwings

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Posted 05 September 2012 - 07:20 PM

My Personal debt is only my mortgage @ $82,000no CC debt or car payments. I owe about $23k on my business which 1/2 of will be paid off by end of next year. I have about $40k in savings in RRSP's and savings account most in RRSP's


Get that money out of a savings account and get into a TFSA. I only keep enough money that I will need for the month in my savings account.

Edited by sixwings, 05 September 2012 - 07:20 PM.

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#59 لني

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Posted 05 September 2012 - 07:50 PM

I used the word "tend" to preface the fact that what I said didn't necessarily apply to everyone while you instead chose to make a generalization. The world isn't black and white, there are a lot of gray areas.


Nope. Was referring to saving as you can see.
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View Postnhlconspiracy, on 21 April 2011 - 02:05 PM, said:

It is not my intent to get in circular arguments with anybody. The reason i have avoided saying anything specific is because i know you or someone else will attempt to find an alternate explanation to my points which i intern will have to defend. I see no point in getting involved with the circular argument that is already well under way in this thread. I simply intended to voice my opinion on the subject. In the end either you accept the possibility of corruption and conspiracy or you don't.

Also i find your comments to be very childish. Does taking what i say out of context, paraphrasing and misquoting it make you feel good about yourself? Grow up.

Logic at its finest.

#60 لني

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Posted 05 September 2012 - 08:10 PM

So, you're saying that a teen who put efforts into charities and volunteering wasn't the most ambitious?

Or one who cared for a sick/debilitated family member, or helped with siblings due to such circumstances, was not the most responsible?

Or one that put in the hard work, effort, and huge tuitions to complete their doctorate and be a neurosurgeon, wasn't the most ambitious or responsible because he had to incur debt to complete it?


...I have a brother-in-law who is insanely ambitious and responsible. He has been working his butt off since a teenager, hoping to be in a position to retire comfortably (multi-millionaire) by the age of 45. At times, his ventures incurred a lot of debt. He almost had to declare bankruptcy twice. But here he is, not even 40 yet, and well ahead of schedule.

So, trying to pigeon-hole a person as ambitious or successful based on debt level is pretty short-sighted. In fact, I would think the MOST ambitious people would be taking advantage of record-low interest rates to maximize their success.


Notice how i said put "their savings in investment".

I also mentioned there are those who are ambitious and responsible who dont have debt and never have had debt.

To suggest that being ambitious and responsible means being laden or tending to be laden with debt is pigeon-holing.

As for you family member congrats to him if hes put himself in a position to retire. Maybe he used debt smartly to get there. You will know once he retires.

Not quite sure what you are saying with MOST ambitious people taking advantage of low interest rates? Are you referring to buying houses? Short term debt? What exactly?

And youve conveniently left out the other side of the argument which was responsible.
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View Postnhlconspiracy, on 21 April 2011 - 02:05 PM, said:

It is not my intent to get in circular arguments with anybody. The reason i have avoided saying anything specific is because i know you or someone else will attempt to find an alternate explanation to my points which i intern will have to defend. I see no point in getting involved with the circular argument that is already well under way in this thread. I simply intended to voice my opinion on the subject. In the end either you accept the possibility of corruption and conspiracy or you don't.

Also i find your comments to be very childish. Does taking what i say out of context, paraphrasing and misquoting it make you feel good about yourself? Grow up.

Logic at its finest.




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