19 Replies to “Triggers”

  3. I can’t fathom of owing probably 3 times what he’s borrowed at because of interest accumulation in 5 years.
    Plus more interest rate hikes are a coming…
    On top of a balloon payment to keep being on the property.
    If my math is half way decent.
    As all his neighbors property’s are worth less.

  4. And how many of those houses have gone from a mortgage of 80% of their value to a mortgage of 88% or 90% or 125%?

    Since the rate increases were foreseeable, why would you take a 5-year variable closed mortgage, over a 5yr variable open mortgage, versus a 5 year open or closed fixed mortgage? (the stupids were strong with some)

  5. S’funny but I’m of an age when I hear the word ‘trigger’ I think of Roy, and it doesn’t affect my psyche at all.

  6. And this is why the Catholic church at one time held that interest on borrowed money was a sin. You could charge the lender to borrow, but it had to be a set price.
    I think the Muslims still have this view.

  7. That borrower saw what happened to student loans, he /she is waiting for the gravy.

    We live in an age of zero financial consequences as proved by previous bank bailouts.

    1. The mortgage holder will just walk-away. That’s what everyone did in 2008. Just walk away and let the bank take an unsellable property. Meh. In 5-years their bankruptcy will be a distant memory … and they’ll go back, Jack … and Do it again … wheels turning round and round …

      https://www.youtube.com/watch?v=vptlTsgu9p0

  8. Prime Minister ‘I don’t understand simple math’ Zoolander will just shovel another hundred billion into the economy.
    With full support of the economically illiterate journalists that he has on staff.

    Related?
    “In an old video that has resurfaced from Justin Trudeau’s days as a West Point Great Academy teacher, the now prime minister admitted that he struggles with basic math. “I have a slight learning disability…that was never addressed,” the 29-year-old teacher stated. “I am dysnumeric,” Trudeau said after self-diagnosing why he cannot understand small math problems. Trudeau said that his learning disability did not prevent him from later teaching children mathematics. “Dysnumeric” is not a medical term, although there are learning disorders involving numbers.

    Trudeau admitted he could not remember phone numbers. He said that he was still unsure of his multiplication tables.”

    https://www.armstrongeconomics.com/international-news/canada/trudeau-admits-he-does-not-understand-basic-math/

    I think that he is just flat out stupid, not ‘dysnumeric’.

    I imagine there are quite a few things that his voters don’t understand too.

    1. Speaking of West Point Grey Academy, #HowYoungWasShe? Or does “dysnumeracy” really get you a pass when you say “I thought she was 18”?

      And if it wasn’t a case of #HowYoungWasShe, then #WhatTheHellReallyHappened?

      To get back on topic: anyone remember 20% mortgage rates in the early 80s? I think that’s coming again. That’s not just a trigger – that’s the muzzle right in your mouth.

      1. Dad was a Real Estate Broker. He voted for Carter in 1976. “We need a little inflation to get the economy going.”

        By 1978 he was doing everything but selling houses to keep the food on the table, and two kids in out of state college. He was into “flipping houses” before it was a thing. I learned about Contract for Deed when I was 17, by putting my money out on contracts he chose.

      2. We don’t need to see 20% to see the devastation.
        At 8% prime, the effect will be the same as 20, thanks to the massive capital amounts borrowed.
        Remember, for those with pre-approved mortgages, they get up to 4 months to use their locked in cheap rate, though, one would be buying an asset that is still depreciating. If one has little to no equity right now, RENT! Don’t buy, wait a couple years.
        The carnage will take time to play out. Think renewals in 2 years, on the Million dollar mortgage, on an $800k assessed home.
        PAIN!

      3. Early 80s…. Sounds familiar, who was the Prime Minister at that time?
        Let’s do it again indeed!

  9. National Energy Program in the early 1980s in Alberta.
    People walked into the bank and handed them the keys.
    The bank’s problem then.
    Of course with CMHC it’s going to be our problem.
    Thank God we can just endlessly print money!

    I miss Harper.
    He could count.

    1. I was here then Shen….driving a flippin Taxi.

      Got laid off my job as welder 1981 on Xmas Eve….short 200 hrs for J’Man. It took near 6 yrs before I could acquire my J’man ticket.

      MY FULL on HATRED for the NAME Pierre Trudeau – has never Once dissipated. Fker ain’t DEAD enough for me…in fact, since that inbred pile of perversion – his son came on board, it’s worse.

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