Personal Finance

Interest rates rising next year, prepare for a world of pain

  • Last Updated:
  • Mar 22nd, 2017 2:06 pm
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Penalty Box
May 1, 2012
6459 posts
2799 upvotes
Markham
Ceryx wrote:
Dec 6th, 2014 12:34 pm
Higher interest rate usually mean austerity, which means layoff across all government funded employment.

I don't think you can afford your house when you lose your job.

Oh, and Anikiri, when is oil going back? I thought people on this forum should be hold accountable once they're wrong in certain timeframe.
Well it's been like 2-3 weeks of weak oil. If you want to call me out on that, that is all fine. I've been wrong about oil for the last 2 weeks or so.

Now that I've humbly acknowledged that I've been wrong, how about some humility from the other side? We should be held accountable for the bullcrap that is being said over the years. Really ties the room together.

Right Ceryx?
Right Motoss?
Deal Addict
Jan 16, 2009
3623 posts
1341 upvotes
Toronto
Anikiri wrote:
Dec 6th, 2014 7:35 pm
Well it's been like 2-3 weeks of weak oil. If you want to call me out on that, that is all fine. I've been wrong about oil for the last 2 weeks or so.

Now that I've humbly acknowledged that I've been wrong, how about some humility from the other side? We should be held accountable for the bullcrap that is being said over the years. Really ties the room together.

Right Ceryx?
Right Motoss?
I think I have humbly admitted I have been wrong about house correction timing couple of years ago in several posts.

But you like to keep re-posting to come to the conclusion that everything I said today should be discredited.

Based on your logic, everything you said now should be discredited until someday what you predict come true.

The way you define it is like this "So until the day oil go back up, everything Anikiri said is non-sense and Anikiri should stop spreading all your false knowledge."
Deal Guru
Aug 2, 2010
10842 posts
2136 upvotes
Prepare for a world of pain? PAAAALEASSE

I am old enough to remember 18% interest rates in the early 80's. That's pain. Anything that could possibly happen now is just chicken poop.
Deal Addict
User avatar
Dec 14, 2010
4230 posts
3143 upvotes
eonibm wrote:
Dec 6th, 2014 8:44 pm
Prepare for a world of pain? PAAAALEASSE

I am old enough to remember 18% interest rates in the early 80's. That's pain. Anything that could possibly happen now is just chicken poop.
I agree. Housing in Canada has always been famous for being affordable, and with average mortgage rates much higher historically, I doubt that the rate increase would have significant impact.

Rod
Deal Expert
User avatar
Oct 26, 2003
26808 posts
1671 upvotes
Winnipeg
rodbarc wrote:
Dec 6th, 2014 9:16 pm
I agree. Housing in Canada has always been famous for being affordable, and with average mortgage rates much higher historically, I doubt that the rate increase would have significant impact.

Rod
actually lower rates is bad, you think that would make the monthly payment lower, nope, it just gives people the perception they can afford a house and drive up the housing price, and who benefits from a higher housing price? certainly not you, the bank makes more interest, Realtor and lawyers take a higher cut, city takes higher taxes, building matinance costs more, your property just drains more money from you
4930k/32gb/256gb ssd/8tb hdd/win10pro/msi 290
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Deal Addict
User avatar
Dec 12, 2005
3268 posts
147 upvotes
Greater Toronto Area
If you cant weather a %1 increase in interest rates you shouldnt be buying real estate.
Jr. Member
Dec 4, 2013
190 posts
15 upvotes
Vancouver, BC
Relax... We won't see interest rates rising anytime soon
Penalty Box
Apr 16, 2012
3565 posts
677 upvotes
Greely
This is what happens when you try and predict markets.
[OP]
Penalty Box
Nov 18, 2014
662 posts
548 upvotes
Toronto, ON
Only got the timing wrong, no biggie. The magnitude of hurt will be increased.. :lol:
Deal Addict
Jul 21, 2011
1724 posts
221 upvotes
RMB
rkanwar109 wrote:
Jan 21st, 2015 1:05 pm
Only got the timing wrong, no biggie. The magnitude of hurt will be increased.. :lol:
It is only painful to people like you. your hope of the rising rate will bring ill fortune to the others, looks like this thread is backfiring yourself, lol
Banned
User avatar
Nov 1, 2014
4317 posts
546 upvotes
Toronto, ON
rkanwar109 wrote:
Jan 21st, 2015 1:05 pm
Only got the timing wrong, no biggie. The magnitude of hurt will be increased.. :lol:
ok..you will die tomorrow..if not tomorrow then only timing is wrong since it will happen one day. but since you don't know when..no point saying or "predicting" it..nobody needs you to predict rates will go up one day.. why don't you start thread saying rates will drop next week?
Penalty Box
May 1, 2012
6459 posts
2799 upvotes
Markham
rkanwar109 wrote:
Jan 21st, 2015 1:05 pm
Only got the timing wrong, no biggie. The magnitude of hurt will be increased.. :lol:
Market Prediction without adequate timing is like running without legs.

Those predictions are worth diddly squat nothing. Even astrology would offer more insight than market predictions without timing.
Deal Addict
Aug 12, 2004
3817 posts
1083 upvotes
Calgary
rkanwar109 wrote:
Jan 21st, 2015 1:05 pm
Only got the timing wrong, no biggie. The magnitude of hurt will be increased.. :lol:
Timing wrong? You even got the direction wrong buddy. You got everything completely wrong. :facepalm:

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