tag:blogger.com,1999:blog-31427364.post6753384353857990362..comments2024-03-26T03:52:23.395-07:00Comments on Housing Analysis: Residential Mortgage Marketmohicanhttp://www.blogger.com/profile/06094213357140749289noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-31427364.post-782386924256816672010-11-18T12:05:16.303-08:002010-11-18T12:05:16.303-08:00A household with one public sector worker (nurse, ...A household with one public sector worker (nurse, teacher, law enforcement, corrections, military etc) and a private sector worker in almost any regular full-time poslition typically would make $120k+. The income rises with the types of jobs. Accountants, lawyers, pharmacists, doctors, managers, and many business owners obviously make more.mohicanhttps://www.blogger.com/profile/06094213357140749289noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-48307369287894850822010-11-18T11:35:24.644-08:002010-11-18T11:35:24.644-08:00Mohican, in your experience, what do people do for...Mohican, in your experience, what do people do for a living that reaps household incomes of 120-200k a year? I've always been puzzled by incomes in Vancouver. I'm in my early 30s and I've found that jobs have paid poorly since I graduated from university. I left Vancouver for better a better salary.Etienne de Cochonhttps://www.blogger.com/profile/03919103855415622925noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-36653755747710366332010-11-11T13:52:33.312-08:002010-11-11T13:52:33.312-08:00It is very concerning for the future of our societ...It is very concerning for the future of our society. The consumption practices of the average 40 - 60 year old are alarming. They just can't seem to stop spending money and expect that the good earning years will continue forever with no regard for - emergencies, family issues, job loss, retirement, or really anything beyond immediate gratification.<br /><br />I meet many of these people and they typically have $500,000-$1,000,000 in real estate, 3-4 newer vehicles including boat/RV/quads/etc, less than $100,000 in savings (RSP/TFSA/etc) and they typicaly owe $300,000+ on a combination of a mortgage and HELOC. They make huge debt servicing payments each year since they typically make a healthy combined income of between $120,000 - $200,000 but everytime something catches their fancy - they go right ahead - whether it's a new Harley, fancy vacation, or 'lending' their kids money to buy a house.<br /><br />These personal financial practices are unsustainable and will likely result in these folks getting a very rude shock one day.mohicanhttps://www.blogger.com/profile/06094213357140749289noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-20168045866632596922010-11-11T05:33:28.331-08:002010-11-11T05:33:28.331-08:00@david, I don't think the government is oblivi...@david, I don't think the government is oblivious to thr increasing debt among those who are nearing retirement (or so they think LOL). I'm predicting lending curbs coming in the next few quarters beyond interest rate rises (which the BoC have indicated are going to be muted in the next while).jessehttps://www.blogger.com/profile/02155122147972263497noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-58421919954250908452010-11-10T13:21:04.450-08:002010-11-10T13:21:04.450-08:001 in 5?!?! In the past year? That I would not have...1 in 5?!?! In the past year? That I would not have expected. <br /><br />It is quite scary that that many people (in this year alone) think it's perfectly reasonable to take out a large chunk of money and add that onto a load that is likely already huge. Doesnt anyone pay mortgages off anymore?<br /><br />When I buy, I plan to put at least 25% down and have an amortization of no longer than 15 years. Who the hell wants to be paying a mortgage when they are well into their 50s anyway?Unknownhttps://www.blogger.com/profile/16361217381016612518noreply@blogger.com