Today is the Brexit vote. We have lots of bets going, what do you think?

[CanuckInUSA 0]

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Perhaps you are from a country that a net worth of well passed $5,000,000 doesn't put you in the top 1%?

If Aphid's net worth is at or above $5,000,000 CDN he may not be an American 1%er but he is absolutely a Canadian 1%er. I always find great amusement when wealthy people come here to whine about other wealthy people.

Try not to worry about the things you have no control over

[SkyDekker 1,465]

mirage62

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I KNOW that my portfolio has shed so much value since Thursday evening through to this morning, it equates to almost three decent homes within 30 minutes of Skydive AZ.

And I am NOT part of the damned 1%.

I'm sorry but if you lost THAT much value you either need someone to better manage your money or you are in the 1% (or very close). Houses at 200k x 2.5 ("almost three decent houses") =$500,000 loose. I don't believe the market overall is down 10%. So if you have a NW of $5,000,000.......

Maybe some diversification is in order? Now might be a good time to buy.....

Your numbers are correct. Classifying the $5,000,000 as net worth is wrong. It would be $5,000,000 of assets. Only one side of the Net Worth picture.

[GeorgiaDon 380]

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If Aphid's net worth is at or above $5,000,000 CDN he may not be an American 1%er but he is absolutely a Canadian 1%er.

Bear in mind that the Vancouver housing market is absolutely insane at the moment. The cost of a "benchmark" (= "average") detached house in the entire greater Vancouver area is now over $1.4 million dollars, and has been increasing by about 10%/year. If someone bought a house to live in, and a couple as rentals/investments, 15-20 years ago, they could easily have over $5 million in assets, and also owe property taxes on that $5 million. In most places, owning 3 houses would not make you a "multi-millionaire". Considering that the median income in Vancouver is only about $77,000, I wonder how sustainable the real estate bubble will be.

Don

_____________________________________
Tolerance is the cost we must pay for our adventure in liberty. (Dworkin, 1996)
“Education is not filling a bucket, but lighting a fire.” (Yeats)

[SkyDekker 1,465]

GeorgiaDon

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If Aphid's net worth is at or above $5,000,000 CDN he may not be an American 1%er but he is absolutely a Canadian 1%er.

Bear in mind that the Vancouver housing market is absolutely insane at the moment. The cost of a "benchmark" (= "average") detached house in the entire greater Vancouver area is now over $1.4 million dollars, and has been increasing by about 10%/year. If someone bought a house to live in, and a couple as rentals/investments, 15-20 years ago, they could easily have over $5 million in assets, and also owe property taxes on that $5 million. In most places, owning 3 houses would not make you a "multi-millionaire". Considering that the median income in Vancouver is only about $77,000, I wonder how sustainable the real estate bubble will be.

Don

All true, though then he wouldn't have lost the money in the market due to Brexit.

[GeorgiaDon 380]

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All true, though then he wouldn't have lost the money in the market due to Brexit.

D'oh! You're correct of course. I guess I jumped to conclusions because of his reference to "3 homes". At any rate these crazy prices (in Toronto too) are making a lot of "paper millionaires".

Don

_____________________________________
Tolerance is the cost we must pay for our adventure in liberty. (Dworkin, 1996)
“Education is not filling a bucket, but lighting a fire.” (Yeats)

[mirage62 0]

Well to be fair I believe he was discussing three homes in Eloy.

Kevin Keenan is my hero, a double FUP, he does so much with so little

[mr2mk1g 10]

https://youtu.be/-a6HNXtdvVQ

[Phil1111 1,183]

GeorgiaDon

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If Aphid's net worth is at or above $5,000,000 CDN he may not be an American 1%er but he is absolutely a Canadian 1%er.

Bear in mind that the Vancouver housing market is absolutely insane at the moment. The cost of a "benchmark" (= "average") detached house in the entire greater Vancouver area is now over $1.4 million dollars, and has been increasing by about 10%/year. If someone bought a house to live in, and a couple as rentals/investments, 15-20 years ago, they could easily have over $5 million in assets, and also owe property taxes on that $5 million. In most places, owning 3 houses would not make you a "multi-millionaire". Considering that the median income in Vancouver is only about $77,000, I wonder how sustainable the real estate bubble will be.

Don

As long as the people keep wanting to get their money out of China. It could go on a while. There are 1.3 billion plus Chinese. A million in a Vancouver house thats worth $500k is still better than having money in a communist country that might impose currency controls, asset seizures without lawful reasons, yuan devaluations, etc.

Vancouver is talking about a special property vacancy tax. To tax vacant houses owned by non residents. But I'd put my bets on the Chinese owners to find a quick way around that nutty idea to avoid that sham.

[CanuckInUSA 0]

Yeah there is a lot of wacky things going on here in Canuckistan concerning the high cost of housing. It partially due to foreign ownership, but it's not all foreign ownership. Part of the blame has to go to the "I want it now and I don't care about the future" mentality.

Regarding the paper loses with the recent stock market volatility. What else is new and when has the market ever made sense? What goes on in Wall Street is completely different than what happens on Main Street.

This thread shouldn't morph into how wacky we Canuckistanis are and Aphid isn't the only person who has suffered paper loses this week. This thread should be about the 52% of the people who voted in the UK to take back control of their country from the unelected, unaccountable bureaucrats from the EU in Brussels.

Try not to worry about the things you have no control over

[ryoder 1,590]

mr2mk1g

https://youtu.be/-a6HNXtdvVQ

Oh, that was good!

"There are only three things of value: younger women, faster airplanes, and bigger crocodiles" - Arthur Jones.

[mr2mk1g 10]

And now Boris has bottled it.

[ryoder 1,590]

And in other Boris news: http://metro.co.uk/2016/06/29/boris-johnson-video-uploaded-to-pornhub-5973507/

"There are only three things of value: younger women, faster airplanes, and bigger crocodiles" - Arthur Jones.

[SkyDekker 1,465]

mr2mk1g

And now Boris has bottled it.

Of course he has. He knows the mess they are in, no one in their right mind would want to lead for the next couple of years.

[quade 4]

mr2mk1g

And now Boris has bottled it.

So much for the concept of, "you broke it, you bought it."

WTF, man? Seriously WTF?

quade -
The World's Most Boring Skydiver

[billvon 3,118]

>So much for the concept of, "you broke it, you bought it."

A good lesson to learn for those who consider voting for Trump.

[SkyDekker 1,465]

billvon

>So much for the concept of, "you broke it, you bought it."

A good lesson to learn for those who consider voting for Trump.

Mexicans will pay for it though, so it won't be a problem in the US at all.

[jakee 1,595]

billvon

>So much for the concept of, "you broke it, you bought it."

A good lesson to learn for those who consider voting for Trump.

When Trump breaks it, it's because the thing was so bad, like the worst ever, that it needed breaking. And he's the only one clever enough to realise it and brave enough to do it. No-one else can see it like he can.

Do you want to have an ideagasm?

[kallend 2,148]

mr2mk1g

And now Boris has bottled it.

Let's remember that the original "House of Cards" was about a British politician stabbing colleagues in the back to become PM. Only much later did Kevin Spacey's version hit the screens.

...

The only sure way to survive a canopy collision is not to have one.

[quade 4]

kallend

***And now Boris has bottled it.

Let's remember that the original "House of Cards" was about a British politician stabbing colleagues in the back to become PM. Only much later did Kevin Spacey's version hit the screens.


Pssst... The original was written by Willy Shakes back in 1611 (or thereabouts).

quade -
The World's Most Boring Skydiver

[jakee 1,595]

quade

******And now Boris has bottled it.

Let's remember that the original "House of Cards" was about a British politician stabbing colleagues in the back to become PM. Only much later did Kevin Spacey's version hit the screens.


Pssst... The original was written by Willy Shakes back in 1611 (or thereabouts).

Sure, but it was still about British politicians

Do you want to have an ideagasm?

[SkyDekker 1,465]

And now Farage has stepped down as leader of UKIP, but of course kept his seat as MEP...

[jakee 1,595]

SkyDekker

And now Farage has stepped down as leader of UKIP, but of course kept his seat as MEP...

Farage's speech to the EP after Brexit vote was utterly cringeworthy. Made me embarassed to be from the same country.

Interestingly Farage said before the last General Election that he would resign as leader if he wasn't elected as MP because he would have no credibility left within the party before pulling a quite spectacular U-Turn the day after being beaten.

Do you want to have an ideagasm?

[gowlerk 2,275]

Are you (and Ryoder) feeling better about your holdings now?
It's a mere 3 weeks since the vote and the headline today reads that the DOW is at a new all time high.

Is the panic over yet?

Always remember the brave children who died defending your right to bear arms. Freedom is not free.

[ryoder 1,590]

gowlerk

Are you (and Ryoder) feeling better about your holdings now?
It's a mere 3 weeks since the vote and the headline today reads that the DOW is at a new all time high.

Is the panic over yet?

Looking good from my POV;And I found a bonus of the dumbass Brexit vote:
Thanks to the nosedive in the exchange rate for the pound, prices at UK online cycling shops are GREAT!
I just placed an order with www.ribblecycles.co.uk a couple days ago.

"There are only three things of value: younger women, faster airplanes, and bigger crocodiles" - Arthur Jones.

[ryoder 1,590]

Iago

******Are you (and Ryoder) feeling better about your holdings now?
It's a mere 3 weeks since the vote and the headline today reads that the DOW is at a new all time high.

Is the panic over yet?

Looking good from my POV;And I found a bonus of the dumbass Brexit vote:
Thanks to the nosedive in the exchange rate for the pound, prices at UK online cycling shops are GREAT!
I just placed an order with www.ribblecycles.co.uk a couple days ago.

Well there you go- UK is on sale. Probably good for the UK economy through exports and increased tourism.

I don't expect it to last.
When they refill their stock, they are going to be paying higher prices.
e.g. one item I ordered was made by Shimano(Japan), and the other was made by Schwalbe(Germany).

"There are only three things of value: younger women, faster airplanes, and bigger crocodiles" - Arthur Jones.