theiceman

well there you have it , another .25 ... we are sitting at 5% now.

I read somewhere that this increase alone adds 15 dollars to every 100K every month ( someone might want to check my math ) .. so that would be an additional 75 bucks increase every month on a 500k loan .. i just don't know how young people afford homes, its crazy.

moab

Bank of Mommy and Daddy or bust.

pfitzsim

100% - tons of Bank of M&D interest free 'loans' / inheritance advances underway. I have a handful of colleagues in their late 50's/early 60's that have either flat out bought their kids a home or given them a hefty down payment. I think the sheer amount of wealth that will be passed down to those in the next decade is enough to keep the housing market alive and well. I have no concrete evidence to back this up other than general observations: my parents (now deceased) but born in the mid 1940's inherited a box of stamps and a wooden table, they went on to work hard, raise a family and save some $ along the way, which was willed to my siblings and I. We are not wealthy by any stretch of the imagination, however we have also been diligent savers and with only two kids, the amount that they stand to inherit would allow them to buy a nice home in most large cities.

#1SomeGuy

Backyard already has a big deck and a small patio, lots of comfy furniture, BBQ and Smoker...I could add a retaining wall on the bit of hill we have to gain some more space for a wood fire pit, but don't think it's worth it for the use it would get.

Basement I'm finishing right now (DIY), will get a nice rec room space with home theatre stuff and a second office/shop space for cleaner activities than what goes on in the garage.

My problem is I have a really really tight two car garage, I can squeeze two cars in for parking, but I don't have the space to have a project car without kicking vehicles outside to the driveway and shuffling all the time. Even then, any time I want to do fabrication work, I need to get vehicles out, get the tools and such out, and then clean it up and put it back at the end of the day, there's no going out to work for a half hour when there's time, it takes an hour at either end to get setup and tear down. That's why I want a bit of property where I can actually have a full size dedicated shop.

Onami

I commented about how many 911's PCO had for sale on Saturday. Just checked out their website and they have 49 911s for sale! That blue 23 Carrera T is listed for $179,900 with 2,500 km. which is about $3,000 more than the MSRP...but, no lux tax.

JustinL

I have been thinking about this concentration of wealth issue too. My parent's generation (boomers) came from large families, but most chose to have quite a few less children and worked long careers. In the old days when the parents of the boomers died, the inheritance was diluted to a larger pool, but with the children of boomers the inheritance usually stays even or gets concentrated in the case of an only child. The next generation are having even less kids at a current replacement rate of 1.4.

997turbocab

The rich are going to get richer but the rest of everyone good luck. Down here in Niagara there are a lot of people with nothing. A lot of people may be living in their houses but at retirement age still with mortgages and LOCS maxed out (Although that could really be everywhere). Next 5 years are really going to be interesting.

Inrev

Interesting, though I wonder if no back seats makes it a harder sell. Also the whole SportsDesign exterior package just increases msrp without giving much in exchange, looks like a dealer build. Still $179k for a parts special base 911 is a hard sell for me.

Another interesting point is that some 22 GT3s are slowly approaching the low $300k zone, with many priced at $309k. Soon we should start seeing them under the $300k mark as fall approaches.

Onami

I hear you...that car has over $30K in options. I would love a stripped T, but have no interest in a loaded one.

theiceman

As long as they can stay away from those corporations designed to intercept that money and ensure they get it before your kids do.

my buddies mother put herself into a chartwell at an eye watering 6500.00 per month.

Onami

Have you looked at what options are available for those who need elder care? We have and I can tell you that we couldn't find any place that we would put a loved one in that cost less than $5k/month...and that price gets you virtually no medical assistance.

moab

Don't fret. Trudeau will make things right with the wealth tax / inheriteance tax in order to level the playing field. And soon you won't need a 911 in Toronto since Chow will turn all streets into bike lanes, patios and free injection sites.

Inrev

Exactly, models like the T only make sense when lightly equipped.

#1SomeGuy

This crap needs to end.

LastMezger

"You will own nothing and you will be happy. "