Bank of Canada cut the bank rate today to 1.5% - it hasn't been that low since 1958! It remains to be seen how much of the .75 basis point cut actually filters through the banks to consumer rates. If someone has a job with security (like a public servant) times are actually not too bad right now when you think about it. Falling prices on just about everything, heck I saw gas in TO last night for 69 cents, that's 1/2 of what it was just a few months ago! If I had guarenteed job security, I sure would be looking to pull the trigger on some sort of major purchase. Then again, when I look at my RRSP and investments, I may have to reconsider....
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Hillar
1970 LS4 (eventually an LS5) Laurentian 2dr hdtp -and a bunch of other muscle cars...
I just looked at my total RRSP's and I think I have enough to get me to age 65...then its food bank and old age pension... and sell my collectable cars..
Carl, you need to put a sign on the Strato - "will race for food". Really, you need to find your equivalent to Dennis Wilson, "The Mechanic" and hit the road Two Lane Blacktop style!
http://www.youtube.com/watch?v=JKcIGPQST9s
-- Edited by Astro Jet at 12:01, 2008-12-09
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Hillar
1970 LS4 (eventually an LS5) Laurentian 2dr hdtp -and a bunch of other muscle cars...
If I had guarenteed job security, I sure would be looking to pull the trigger on some sort of major purchase. Then again, when I look at my RRSP and investments, I may have to reconsider....
Well Hillar, haven't you heard about the fancy new range at my place, Mary's Christmas gift. They made me an offer I couldn't refuse!
I stopped worrying about the RSP's, we've got 15 years to recover!
Wow! You get to retire at 85? I'll be in my 90's the way things are going. It's slowed down about 50% to what it should be at work. Since I'm on commission it's going to be a very lean Christmas this year. I don't see any spending on the Laurentian for a while if this keeps up. When times get tough, the hobbies are the first to go.
On the "freedom 85" plan here.... no buying anything for, .. ....ever?
The market prices may be coming down, and the money may be cheaper to borrow, but I'm thinking it will be only a select few investors who will continue purchase when RRSPs, mutual funds and stocks are also losing their value as fast as the price of oil is dropping. It's a buyers market, but who will be buying?
Wow! You get to retire at 85? I'll be in my 90's the way things are going. It's slowed down about 50% to what it should be at work. Since I'm on commission it's going to be a very lean Christmas this year. I don't see any spending on the Laurentian for a while if this keeps up.get tough, .
On the "freedom 85" plan here.... no buying anything for, .. ....ever?
At least you have a job at a Toyota store.. Can you keep those jems, running for another 40 years..
Gas here in good old Ingersoll is at 69.9. The Caddi is lovin' the cheap premium! I wanna buy some more cars, just have no room or money. We have talked about moving to a place with more room and a shop, but have only been in this house for 3 years. But at least Jill is now open to the idea of a move or build a new shop here. I'm going to start pricing after Christmas.
Gas here in good old Ingersoll is at 69.9. The Caddi is lovin' the cheap premium! I wanna buy some more cars, just have no room or money. We have talked about moving to a place with more room and a shop, but have only been in this house for 3 years. But at least Jill is now open to the idea of a move or build a new shop here. I'm going to start pricing after Christmas.
Hey! if Jill is open to a 'new shop" Do not disappoint her!!!
That's a nice shop Carl. It's more than I can afford. I'm looking at 1 1/2- 2 car at most. I rent a shop for storage, and may try to buy it along with the house & property just east of London. All depends if the owner is ready to sell next spring. It holds at least 8-10 cars and has another shop beside it with room for 2 big boats and a few more cars. That's ultimetly what I'd like, but..... the house needs work and it may be outta my range. Nice to dream!!
I just looked at my total RRSP's and I think I have enough to get me to age 65...then its food bank and old age pension... and sell my collectable cars..
427carl, I am at 65 now and the situation is not what I would like it to be, but it is not so bad at all!!! 65 is the most dangerous age for men! Statistics show this is the age of most men that have affairs!!!!
That's a nice shop Carl. It's more than I can afford. I'm looking at 1 1/2- 2 car at most. I rent a shop for storage, and may try to buy it along with the house & property just east of London. All depends if the owner is ready to sell next spring. It holds at least 8-10 cars and has another shop beside it with room for 2 big boats and a few more cars. That's ultimetly what I'd like, but..... the house needs work and it may be outta my range. Nice to dream!!
Wanna rent some storage spots?
You guys out in the country have no idea what a shortage of storage space there is for us guys who live in the city and how expensive it is. I have two cars at my mother's place, one at a friend's shop, three at home and rent a couple of spaces in an apartment underground parking garage at a very attractive price only because the maintenance manager there is a good friend of mine. If you don't have any connections, the going rate for heated indoor storage within the city limits is $150/month.
Some of the condos now make buying a parking spot optional, they generally go for between $25K and $45K depending on the building. I read somewhere that a guy was planning to build a garage condo, composed of nothing but self contained garage units, but he was aiming at the high end exotic owner, as he was looking for around a $100K per unit!
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Hillar
1970 LS4 (eventually an LS5) Laurentian 2dr hdtp -and a bunch of other muscle cars...
Gas 84.9 in Victoria today. So muuch a for competative market! We always get the shaft out west. Makes mowing and trimmig 12 months of the year more costly! Our B.C. Government hasn't even removed the fuel surcharge from our ferry service yet! Talk about gouging!
You guys out in the country have no idea what a shortage of storage space there is for us guys who live in the city and how expensive it is.
Indeed Hillar, my sister-in-law ended up paying over $10,000 to get off street parking on her narrow little East York side street. Comrade Miller's patrol makes you buy a permit, plans must be professionally drawn, community council approvals, charges for curb cuts and new ramp install, hard surface laid with approved materials and professional landscaping. The worst part is if any neighbour objects you are screwed.
She has a nice spot to park her Echo now but when ever I go visit, be it in the Suburban or one of the Cadillacs I'm trolling the neighbourhood looking for a place to park and inevitably even when I find one I'm hanging over the driveways.
I just looked at my total RRSP's and I think I have enough to get me to age 65...then its food bank and old age pension... and sell my collectable cars..
427carl, I am at 65 now and the situation is not what I would like it to be, but it is not so bad at all!!! 65 is the most dangerous age for men! Statistics show this is the age of most men that have affairs!!!!
The only "affair" I will look forward to, is with another car They are much more forgiving
i heard it rained in Northern Ontario.. It this your cottage???
