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How much is gasoline in your area? (pg. 4)
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| Nrg2Nfinit |
500 K house
IN the US
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6% fixed mortgage 30 years (not possible at all in canada)
400k mortgage (lets say)
toatl principle + interest $863,352.76
total payed for home 963000$
write off of mortgage expense over 30 year ammortization period (lets say 200,000)
total price paid for a home 763000
now in canada
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you can only get a 5 year fixed mortgage so we have to hike the interest rates up to deal with fluctuations.
so lets say 10% interest over 30 years (lock in on some good years and some bad years (not trying the variable route)
400 k mortgage
total principle + interest $1,263,703.06
total paid for home 16263703.06
no writeoff on interest expense
total paid 1.6 million for a 500k house
now im not even counting property taxes, hydro heating etc AND higher marginal tax rates.
so thats more than double the cost of living to purcahse a house in that basic example. |
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| Vivid Boy |
| quote: | Originally posted by igottaknow
apples to oranges. Compare like cities ie Toronto to NYC, LA, Chicago, or Boston and you'll find the cost of living is high across the board. You could live outside of the city and commute but now you have to buy a car and pay for expensive gas (see thread topic). |
but Toronto isnt am NYC or LA or Chicago. Toronto is hardly on the map, you really cant compare toronto to NYC theres no reason why toronto should be so in expensive.
junker homes outside of toronto still go for half a million dollars. |
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| The17sss |
| quote: | Originally posted by Lews
I hope the prices stay this high, if not higher, and we get off our damn dependency on this . |
That's the dumbest I've ever heard. The cost of everything goes up when gas prices skyrocket. Every carton of milk, every pair of jeans, every box of cereal... everything relies on shipping/transportation, and those rising costs get passed on to the end user, a.k.a you. Typically 10% of one's disposable income is spent on fuel. Now it's 20%. So what you are saying is, "I hope people continue to struggle to make ends meet so my unrealistic fantasy of alternative energy can be forced on us faster." Don't get me wrong, I'm all for other sources, but we are lightyears away from a realistic replacement. So let's keep accessing our resources while developing alternatives at the same time. Forcing it your way won't make it happen faster, it will just make our economy worse.
| quote: | Originally posted by igottaknow
The only difference you might be overlooking is the US provides very little in the way of social service. Both health care and college education aren't free here. |
:wtf:
We provide very little in the way of social services!? BTW- college tuition is not a social service. |
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| Nrg2Nfinit |
| quote: | Originally posted by The17sss
That's the dumbest I've ever heard. The cost of everything goes up when gas prices skyrocket. Every carton of milk, every pair of jeans, every box of cereal... everything relies on shipping/transportation, and those rising costs get passed on to the end user, a.k.a you. Typically 10% of one's dispsable income is spent on fuel. Now it's 20%. So what you are saying is, "I hope people continue to struggle to make ends meet so my unrealistic fantasy of alternative energy can be forced on us faster." Don't get me wrong, I'm all for other sources, but we are lightyears away from a realistic replacement. So let's keep accessing our resources while developing alternatives at the same time. Forcing it your way won't make it happen faster, it will just make our economy worse.
:wtf:
We provide very little in the way of social services!? BTW- college tuition is not a social service. |
lews doesnt care, he's heavily hedged on silver (since 6 dollars ) :D |
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| Nrg2Nfinit |
| quote: | Originally posted by The17sss
We provide very little in the way of social services!? BTW- college tuition is not a social service. |
but is it tax deductable on your personal income tax? |
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| shaw |
| quote: | Originally posted by Nrg2Nfinit
comparable as in what? I dont think you understood what i'm saying
30 k to RENT in toronto for 2 years
minimum you're paying to buy a decent condo in toronto is around 300k |
$30k for 2 years isn't high at all. |
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| Quazar |
| Just paid $4.35 for regular. |
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| Nrg2Nfinit |
| quote: | Originally posted by shaw
$30k for 2 years isn't high at all. |
edit, i saw your post wasnt in reference to the example i made
so yes.. 30 k isnt that high.. some places in toronto rent for much more than that.. i think a decent place to rent would be about 3000$ per month. |
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| shaw |
| quote: | Originally posted by Nrg2Nfinit
relative to 30k for something that could potentially appreciate to 60 k in 5 to 10 years time that you would own?
can i have some of that crack your smoking? |
Compared to rent in the US. Apples to apples. |
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| Meat187 |
| 1.65 Euro per liter, which should be about 9.25 Dollars per gallon in retarded units. |
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| The17sss |
| quote: | Originally posted by Nrg2Nfinit
lews doesnt care, he's heavily hedged on silver (since 6 dollars ) :D |
he's a savvy one! :p |
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| Nrg2Nfinit |
| quote: | Originally posted by shaw
Compared to rent in the US. Apples to apples. |
ok fine lets try this then.
in respective currencies
2010 can avg home price $341,081
2011 US avg home price $272,900
in USD
CAN $358,135.05 from 341,081*1.05 (CAD->US)
US $272,900
thats 31% more expensive average home pricing in canada (including igloos) in your currently crappy currency.
Now if we also factor in the power to write off loans, pay less taxes. That totally cheapens the deal significantly.
http://www.census.gov/const/uspriceann.pdf
http://www.crea.ca/public/news_stats/statistics.htm |
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