554 replies to this topic

[spanky123]

And if the people who put these events on knew how the fight for housing began, they would have Rob Randall and G-Man at their events, not instructors at RRU or VIU.

 

Perhaps they thought that Rob and G-Man might object to "pay for access" events. 

[Mike K.]

Rob and G-Man aren’t the flavour of the day politically, either. Too much adulting going on when they speak.

[rmpeers]

Just what we need, decisions that instantly generate wealth for developers and property owners should be made by anonymous, unaccountable staffers. No risk there.

Didn't developers back her and now she's paying them back? Or is she angling for a development-related job after she leaves politics (hopefully)?

[Victoria Watcher]

Didn't developers back her and now she's paying them back? Or is she angling for a development-related job after she leaves politics (hopefully)?

 

the city never posted 2018 election campaign financial disclosure.

[Tom Braybrook]

the city never posted 2018 election campaign financial disclosure.

try this link

 

https://contribution...teTo=&DateFrom=

[Tom Braybrook]

top donors

 

 

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[Tom Braybrook]

^

 

and of course there is plenty of development money in the list

[Victoria Watcher]

the top end is pretty heavy with it!

[Sparky]

What a system we have.

[rmpeers]

^

and of course there is plenty of development money in the list

So then I guess it's not a mystery why a politician would announce she wants to get rid of all that pesky red tape that's stopping those nice developers from doing their business unrestrained. No different from a politician cutting environmental rules to benefit whichever industry bought them.

[rmpeers]

To stay on topic: under the new "editor"-ship Capital Daily is also doing a great job of serving as a fanzine for Helps et al. I think they've finally shed whatever semblance of objectivity they might've had at the outset.

[Tom Braybrook]

So then I guess it's not a mystery why a politician would announce she wants to get rid of all that pesky red tape that's stopping those nice developers from doing their business unrestrained. No different from a politician cutting environmental rules to benefit whichever industry bought them.

i wouldn't call it a mystery, no!

 

i will say i doubt a $1200 donation is going to buy you any special favours, that's for sure... that's chump change

 

however, people don't generally donate money to the campaigns of politicians that are not aligned with their personal views...

 

 

 

it might be more useful to see who else the donors were contributing to, in addition to the mayor,,,i mean, did any of these folks give money to Comrade Ben, or Geoff Young...

 

i donate money to political campaigns all the time, not because i am looking for a favour, but because i appreciate the fact that someone will step up and do the job AND i know how expensive campaigns can be, believe me, i know!

[G-Man]

Rob and G-Man aren’t the flavour of the day politically, either. Too much adulting going on when they speak.

 

Ouch! I can try and dumb it down going forward...

 

I saw that event listed as membership bait and thought it really needed another perspective to make interesting. Not mine but perhaps a developer or how about someone that makes 6 figures that can't afford a house in the city. 

[Mike K.]

Hmm, I don’t know if I would be so quick to make that six figure statement.

Right now an $800k mortgage carries a $3,200-$3,500 monthly payment (depending on what rate you qualify for), right in line with a $100,000 annual salary. If you earn $100,000+ you have the pick of the litter, theoretically.

[G-Man]

It is certainly true.

 

If you make 100k a year you are pulling in about 5800 a month after taxes and someone expects you to pay 3000+ on a mortgage? That is not affordable by definition. To be affordable your housing should be a third of your take home at most, so about 1900 a month. 

[Mike K.]

Banks qualify you on your gross income relative to the mortgage, not the net or post-tax income. That's a metric that gets confused quite often.

 

We can see how consumer debt can throw everything off. If you're going for a max mortgage amount relative to income, any debt outside of the mortgage makes things unworkable very quickly unless you can come up with a higher down payment.

[Tom Braybrook]

It is certainly true.

 

If you make 100k a year you are pulling in about 5800 a month after taxes and someone expects you to pay 3000+ on a mortgage? That is not affordable by definition. To be affordable your housing should be a third of your take home at most, so about 1900 a month. 

so two hipsters with good jobs  (Double Income No Kids - or DINK's) can afford $3800 mnth...no problem!

[On the Level]

so two hipsters with good jobs  (Double Income No Kids - or DINK's) can afford $3800 mnth...no problem!

 

Until they have kids, or the interest rate goes up by 2%, making their monthly payment $4,600 a month.  It's going to be interesting to see what happens when interest rates go up.

[spanky123]

Until they have kids, or the interest rate goes up by 2%, making their monthly payment $4,600 a month.  It's going to be interesting to see what happens when interest rates go up.

 

I don't think the Feds will let interest rates rise significantly. They have taken on too much debt and even a 2%-3% increase in rates would make the deficits structural. 

 

I think they will allow inflation to run while denying its existence. That way they can inflate themselves out of debt while keeping a lid on pension and other indexed costs.

 

One thing is for certain though is that the wealth gap will rapidly accelerate and these band-aid policies only make things worse.

Edited by spanky123, 11 July 2021 - 01:44 PM.

[G-Man]

What a bank will qualify you for and what any person in there right mind should pay are not the same thing. Paying more than 1/3 of after tax income would be mean being house poor.