#Canucks Posted November 10, 2019 Share Posted November 10, 2019 6 minutes ago, kingofsurrey said: With BC wages now the lowest in Canada.... and traditional resource industries collapsing... Foreign money ruling the province / destroying real estate affordability.... since the BC Liberal Party sold us all out.. BC is really hurting right now. Look at massive strikes and job actions the new norm in BC. Time for a new political option in BC . We surely need one. Foreign money is not ruling our province? We spend our money on products made outside of our country and they spend the money back in our province. Why would rather no money come back? It’s a cycle and I’m glad the world brings money here. Also to say it is ruining real estate is incorrect. Based on a Average wage with dual income anyone can afford $500,000 mortgage. You just have to be smart and not blow your money. Tbh $500,000 is easy to obtain. But people want to make excuses and blame others. Anyone can thrive they just have to want to. 1 Link to comment Share on other sites More sharing options...
kingofsurrey Posted November 10, 2019 Share Posted November 10, 2019 1 minute ago, #Canucks said: Foreign money is not ruling our province? We spend our money on products made outside of our country and they spend the money back in our province. Why would rather no money come back? It’s a cycle and I’m glad the world brings money here. Also to say it is ruining real estate is incorrect. Based on a Average wage with dual income anyone can afford $500,000 mortgage. You just have to be smart and not blow your money. Tbh $500,000 is easy to obtain. But people want to make excuses and blame others. Anyone can thrive they just have to want to. 100 % not true. 500,000 mortgage is not affordable for most BC citizens. BC Liberal Party wrecked our province and sold us all out to foreign interests. 1 Link to comment Share on other sites More sharing options...
Stelar Posted November 10, 2019 Share Posted November 10, 2019 Alberta sends its thoughts and prayers. Link to comment Share on other sites More sharing options...
Dazzle Posted November 10, 2019 Share Posted November 10, 2019 1 minute ago, kingofsurrey said: 100 % not true. 500,000 mortgage is not affordable for most BC citizens. BC Liberal Party wrecked our province and sold us all out to foreign interests. Technically if BC was run by foreign corporations, then surely lots of Canadian businesses would be bought by foreign ownership, thereby saving jobs, yes? Your logic doesn't add up. 1 1 Link to comment Share on other sites More sharing options...
Warhippy Posted November 10, 2019 Share Posted November 10, 2019 The BC NDP effectively listened to the big industry players and WTO when they raised stumpage fees. They did exactly what they said they would and that was a huge problem because listening to the 4 big mills ignored the dozens of smaller ones. The ones that couldn't afford that increase in rates. Then we factor in world issues right now like the low cost of and desire for lumber and the higher cost of actual wood. The successive fire seasons which completely destroyed supply and shortened logging seasons. The fact that 16 years of Liberal rule in BC pushed for less value added product, the former Conservative government effectively giving the US what they wanted in Softwood and handing over billions in duties, the Liberals ignoring forestry in the most recent NAFTA negotiations and we've come to this. https://www.cbc.ca/news/canada/british-columbia/dwindling-supply-high-fees-blamed-for-downturn-in-b-c-forestry-1.5284570 This is hardly Horgan or the NDP's fault in BC but they sure as hell didn't help things. 50-60 mills closed in around a decade under the BC Liberals, federally under the eyes of the Cons and Libs and nobody did a damned thing. Horgan is now trying to play catch up but it's already a lost cause. we had 4 years where our dollar was at or around par with the US and players refused to upgrade their facilities to process beetle damaged wood, others refused to upgrade to refine wood fire or pellets. The most galling aspect of this is the Kelowna area MLA who is demanding action and blaming the NDP while ignoring the fact his government saw over 50-60 mills close. he is literally putting the entire plight of the forestry industry at the feet of the NDP and that's just absolutely shamefully hypocritical https://globalnews.ca/news/6150403/b-c-lumber-crisis-mla/ https://www.theglobeandmail.com/canada/british-columbia/article-bcs-looming-crisis-a-forest-industry-in-peril/ It's been a dying industry since the 90s. The sustainable forestry act + NAFTA cost this nation hundreds of thousands of forestry jobs since the early 90s across the country the same way manufacturing got hit. But unlike manufacturing there is no coming back in the short term for forestry. Shipping out raw logs for almost 2 decades effectively destroyed the potential for value added jobs. Luckily there ARE some facilities that did think ahead and are doing quite well. Mills and facilities that continue to innovate will do quite well. but as the industry experts say there is no clear way to fix this, nor is there anything to do but wait. https://biv.com/article/2019/10/pinnacle-inks-deal-japan-wood-pellets 1 Link to comment Share on other sites More sharing options...
#Canucks Posted November 10, 2019 Share Posted November 10, 2019 (edited) 9 minutes ago, kingofsurrey said: 100 % not true. 500,000 mortgage is not affordable for most BC citizens. BC Liberal Party wrecked our province and sold us all out to foreign interests. My friend started his journey to own a home two years ago. Built really good credit works very hard makes $25/hr and got a mortgage for $560,000 as a first time home buyer. So yeah it’s easier than you think you just have to work hard for want you want and make smart decisions. At minimum wage with a dual income you could get a mortgage for at least $420,000. I own many homes and it’s not hard but I worked hard in the beginning and built a foundation for my life. Anyone can do it, they just have to work for it. Edited November 10, 2019 by #Canucks 2 1 Link to comment Share on other sites More sharing options...
#Canucks Posted November 10, 2019 Share Posted November 10, 2019 One area where the BC government (whomever is in power) should fix is the forest industry. We have the lumber so why are we paying for it!!! FIX THIS 1 Link to comment Share on other sites More sharing options...
bishopshodan Posted November 10, 2019 Share Posted November 10, 2019 Thought Jimmy P was going to swoop in and save the day at one point? Sad to hear. Got a nephew who has had to diversify his work due to the struggles in forestry. Link to comment Share on other sites More sharing options...
kingofsurrey Posted November 10, 2019 Share Posted November 10, 2019 1 minute ago, #Canucks said: My friend started his journey to own a home two years ago. Built really good credit works very hard makes $25/hr and got a mortgage for $560,000 as a first time home buying. So yeah it’s easier than you think you just have to work hard for want you want and make smart decisions. At minimum wage with a dual income you could get a mortgage for at least $420,000. I own many homes and it’s not hard but I worked hard in the beginning and built a foundation for my life. Anyone can do it, they just have to work for it. If your friend makes 25 an hour and borrowed 500 K , then he is an idiot. 1 Link to comment Share on other sites More sharing options...
kingofsurrey Posted November 10, 2019 Share Posted November 10, 2019 2 minutes ago, #Canucks said: My friend started his journey to own a home two years ago. Built really good credit works very hard makes $25/hr and got a mortgage for $560,000 as a first time home buying. So yeah it’s easier than you think you just have to work hard for want you want and make smart decisions. At minimum wage with a dual income you could get a mortgage for at least $420,000. I own many homes and it’s not hard but I worked hard in the beginning and built a foundation for my life. Anyone can do it, they just have to work for it. ROFL - 2 minimum wage jobs put you at the food bank.... Pretty early in the day to be partaking...... Link to comment Share on other sites More sharing options...
#Canucks Posted November 10, 2019 Share Posted November 10, 2019 2 minutes ago, kingofsurrey said: If your friend makes 25 an hour and borrowed 500 K , then he is an idiot. So you think having a mortgage for roughly $2100.00 a month, renting out a suite for $1100.00 a month, helping you to only spend roughly $1000.00 a month which by the way is going to be converted into equity, is a dumb idea? Did I mention he is also contributing to the low vacancy rate? What I think is that People make excuses to live $&!#ty lives and blame others. People need to wake up. 3 Link to comment Share on other sites More sharing options...
Gurn Posted November 10, 2019 Share Posted November 10, 2019 $560,000 less a $56,000 down payment means about $2,550 monthly payment. $25 an hour equals $4,000 per month gross income so about $3,100 net. Buy food, gas, and insurance with $600 a month? Good luck. 2 Link to comment Share on other sites More sharing options...
bishopshodan Posted November 10, 2019 Share Posted November 10, 2019 7 minutes ago, kingofsurrey said: If your friend makes 25 an hour and borrowed 500 K , then he is an idiot. Or..or.. That person sees signs of the market turning around and realises that they would be paying about the same monthly to rent. Wrong thread BTW. 1 Link to comment Share on other sites More sharing options...
#Canucks Posted November 10, 2019 Share Posted November 10, 2019 6 minutes ago, kingofsurrey said: ROFL - 2 minimum wage jobs put you at the food bank.... Pretty early in the day to be partaking...... I don’t know why that’s funny? What is minimum wage $12/hr. So you have on dual income $24/hr and You buy an entry level house in a more affordable neighbourhood and you rent a room or a potential suite if you find the right property and your creating equity and most likely Paying less than you would renting and contributing to the vacancy rate. I think that’s pretty smart if you ask me. 2 1 Link to comment Share on other sites More sharing options...
bishopshodan Posted November 10, 2019 Share Posted November 10, 2019 2 minutes ago, #Canucks said: I don’t know why that’s funny? What is minimum wage $12/hr. So you have on dual income $24/hr and You buy an entry level house in a more affordable neighbourhood and you rent a room or a potential suite if you find the right property and your creating equity and most likely Paying less than you would renting and contributing to the vacancy rate. I think that’s pretty smart if you ask me. $13.85 and going up fast 1 Link to comment Share on other sites More sharing options...
Ryan Strome Posted November 10, 2019 Author Share Posted November 10, 2019 30 minutes ago, kingofsurrey said: BC Liberals destroyed our province. Ruined our great public education system. Destroyed our public health care quality / hospitals. Wiped out affordable housing / rentals. Tolling one group of citizens in our province was a sad joke - so happy it is removed. It will take BC the next 20 years to recover from the damage the BC Liberal party wrecked on our once great province. likely will require a new party in BC to fix the mess. 1 Link to comment Share on other sites More sharing options...
bishopshodan Posted November 10, 2019 Share Posted November 10, 2019 6 minutes ago, gurn said: $560,000 less a $56,000 down payment means about $2,550 monthly payment. $25 an hour equals $4,000 per month gross income so about $3,100 net. Buy food, gas, and insurance with $600 a month? Good luck. you could get a slightly better mortgage rate..we just got 3% fixed...that puts it at $2459...then you get a roommate / rent out a room or suite depending on your purchase. np 1 Link to comment Share on other sites More sharing options...
Gurn Posted November 10, 2019 Share Posted November 10, 2019 (edited) 7 minutes ago, bishopshodan said: you could get a slightly better mortgage rate..we just got 3% fixed...that puts it at $2459...then you get a roommate / rent out a room or suite depending on your purchase. np Will the bank/credit union accept "potential' rental income to get the mortgage? And yes, this is a thread hijack. Edited November 10, 2019 by gurn Link to comment Share on other sites More sharing options...
The Lock Posted November 10, 2019 Share Posted November 10, 2019 1 minute ago, gurn said: Will the bank/credit union accept "potential' rental income to get the mortgage? And yes, this is a thread hijack. Good. This thread needs it. lol 3 Link to comment Share on other sites More sharing options...
bishopshodan Posted November 10, 2019 Share Posted November 10, 2019 1 minute ago, gurn said: Will the bank/credit union accept "potential' rental income to get the mortgage? And yes, this is a thread hijack. If its a legal suite but they would still want it rented first, not 'potential' But our scenario is that this fella has already bought and qualified. I was suggesting ideas to help with the payments. We have a cabin we rent out for $1100. The bank took that income into consideration when approving us. 1 Link to comment Share on other sites More sharing options...
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