maddec49

[maddec49 @maddec49]

@aradan123 @ronmortgageguy @altruafinancial @StephenPunwasi All else equal in the equation, higher incomes (wage inflation) and/or longer mortgage terms could apply upward pressure to prices. Not saying it will happen nor suggesting a time frame, just pointing out the math.

[maddec49 @maddec49]

@tferriss Often I will wake up with a song stuck in my head for whatever reason. Last year I started compiling a playlist of those songs as they came. Ended up with a very cool eclectic morning mix, everything from Zeppelin to deep house to folk. Highly recommend for fun.

[maddec49 @maddec49]

@ronmortgageguy Judging by the comments this is yet another super divisive issue that has instilled an “us vs. them” mentality in many people. Poor policy decisions from the central planners were the ultimate catalyst, and now everybody pays the price.

[maddec49 @maddec49]

@BridgieCasey @d_demelis We’ve created a system where imprudent people can do a lot of damage to their lives under the guise of putting a roof over their heads. Obviously a ton of red flags for the educated. There will always be stories of people like this though.

[maddec49 @maddec49]

@himansh36013599 Principle residence tax exemption & time frame have the potential to change the math.

[maddec49 @maddec49]

@jesse_kleine Red Accordion is a gem tucked away in that area. Elisa overrated IMO.

[maddec49 @maddec49]

@Jared_Gardner @jafamilyrealtor @RE_MarketWatch It’s not fear mongering, it’s an anecdotal data point worth sharing. It suggests the 1.9 price point was an outlier at the tip of a blow-off top, driven by FOMO gone way too far. Takes two sides to make a market.

[maddec49 @maddec49]

@jesse_kleine Friend just got back from Italy and we had this conversation last night 😂 We’re spoiled by diversity & excellent quality here. We went to the top rated spots in Naples, and places here like Via Tevere are on par. The tomatoes, basil, lemons etc. in Tuscany are next level tho.

[maddec49 @maddec49]

@jesse_kleine Wow, that’s a lot of price movement and a much different picture than the start of the year. Appreciate the shared info, keep up the good work 👍

[maddec49 @maddec49]

@himansh36013599 @Yyzcapital @MicheleMcDFox As a millennial in Vancouver with several friends that upsized in the last 2 years, I can assure you the math is valid. Also that the mortgage brokers in my circle heavily favoured Scotia variable products to complete these purchases for multiple reasons.

[maddec49 @maddec49]

@deerpointmacro @SteveSaretsky Recently have heard people like Luke Gromen and Eric Townsend proposing that short term reprieve from supply chain driven inflation (we are here) will roll over into secular inflation driven by energy production shortfalls. Perspective is new to me, something I’ll keep an eye on.

[maddec49 @maddec49]

@sm_cmc The current rate of hiking from where the year started is the most aggressive ever, I don’t see an emergency meeting happening. I think from here on out it’s about the appearance of doing something, less aggressively, while they sweat and pray that CPI starts rolling over.

[maddec49 @maddec49]

@WDaveWatt1 @ronmortgageguy @abidaliluton @Patrick70571426 @Joelsonp101 @mortimer_1 Yes. I don’t think this is discussed enough right now. The financialization of the system, HELOC’s funding European vacations, the bifurcation of the haves vs. have-nots, all plays into the ‘millennials have it tougher than boomers’ discussion.

[maddec49 @maddec49]

@ronmortgageguy @abidaliluton @WDaveWatt1 @Patrick70571426 @Joelsonp101 @mortimer_1 Our system incentivizes short term policy over long term policy at the policy-maker level. Debt-to-income ratios are a byproduct of the focus on short term policies. Of course all of this is quite subjective, tough to break down in 280 characters.

[maddec49 @maddec49]

@WDaveWatt1 @Patrick70571426 @abidaliluton @Joelsonp101 @mortimer_1 @ronmortgageguy This is what I’m getting at. Real stories we can now analyze in hindsight vs. recency bias and assumptions about how bad the future will be. There are some different dynamics at play now, but things got very real for a lot of young people very suddenly in the 80’s.

[maddec49 @maddec49]

@ronmortgageguy @abidaliluton @Joelsonp101 @mortimer_1 Overall debt levels yes, that’s where everyone’s looking. But I’m talking about debt servicing costs and rate of change in debt servicing costs.

[maddec49 @maddec49]

@mortimer_1 The economic environment has changed drastically, thus the conversation has changed. This is akin to being a stock market bear from 2010-2020 and taking a victory lap because COVID made their social circle discuss near-term downside risk.

[maddec49 @maddec49]

@SteveSaretsky Anecdotally, majority of millennials I know that took the plunge on $1M+ home purchases in Vancouver the last few years were told Scotia was most accommodating lender, which is the big 5 that has floating payments. Not sure if there are any sources to seek out that data though?