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Are Suzuki GSX-R's becoming Rare?
- Thread starter -Maverick-
- Start date
Meh, I'll be at the track with my family this season.
Iceman
Well-known member
You crazy! I'd trade my two kids for a 500exc and an 1190R. No hesitation.
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-Maverick-
Well-known member
Both. The market isn't saturated by Suzuki anymore since they collapsed financially. The successor for the flip-flop crowd is...?
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Maybe this is why....
http://www.bbc.com.6jw2.clonezone.link/gsxr
It must be true. It's on the BBC website
http://www.bbc.com.6jw2.clonezone.link/gsxr
It must be true. It's on the BBC website
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Mango Rider
Well-known member
Hahaha, why is that on BBC and not The Onion?
Funny article regardless:
"Statistically 10 out of 10 GSXR riders are most likely to return home to their boyfriends after a day of riding their Suzuki GSXR motorcycles..."
Funny article regardless:
"Statistically 10 out of 10 GSXR riders are most likely to return home to their boyfriends after a day of riding their Suzuki GSXR motorcycles..."
Maybe this is why....
http://www.bbc.com.6jw2.clonezone.link/gsxr
It must be true. It's on the BBC website
Funny kid. It actually sounds like he has his **** together.
I'm big believer in no new toys til mortgage paid off. Debt sucks.
See you at the track
I am SO showing this to your wife.? lol
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A lot of these things are moving targets, if your mortgage is similar to a HELOC in interest, keeping the mortgage and having the HELOC as an emergency fund is good, if you can ditch a 5.9 mort for a 3.5 LOC, that may make sense. It wont happen soon but HELOC have interest rates that can fluctuate where as your mortgage is locked usually. As said YMMV.
Where I see the problem area is people get caught up in low interest rates , HELOC becomes the bank account, why not have a hot tub @ $69.00/m ? add a car, truck, camper trailer, 2 sno machines and a really nice bike or two and its a house of cards. For every person that thinks having it all now is a bad idea there are 3 ontarians up to their arses in debt.
You see it all the time, young guy hanging around the dealership looking at 9.9% finance on a 10K gixxer, and paying $3,880. per yr ins, monthly of course.
Where I see the problem area is people get caught up in low interest rates , HELOC becomes the bank account, why not have a hot tub @ $69.00/m ? add a car, truck, camper trailer, 2 sno machines and a really nice bike or two and its a house of cards. For every person that thinks having it all now is a bad idea there are 3 ontarians up to their arses in debt.
You see it all the time, young guy hanging around the dealership looking at 9.9% finance on a 10K gixxer, and paying $3,880. per yr ins, monthly of course.
That is such a dangerous thing to do - Unless there is a change in jobs with a substantial pay increase, I don't see how anyone can "better their situation" with an average 2% salary increase companies are paying these days.
Somehow people that get in financial trouble think they will be so much better magically soon to not only come afloat on their finances but also pay what they owe.
They gave us a huge Line of credit when we bought the house a year ago, the balance on it is $0, the more you have the more you want.
2% increase? Sign me up over with you. I wish mine was like that. Stupid shareholders.
To address the hijack, I may be paying more than I should, but there is something comforting knowing what my payments will be for xxx years. You can't really put a price on being able to sleep at night.
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To address the hijack, I may be paying more than I should, but there is something comforting knowing what my payments will be for xxx years. You can't really put a price on being able to sleep at night.
Sent from a Samsung Galaxy far, far away using Tapatalk
I think you may have misunderstood. What I'm saying is you flip your higher interest mortgage to lower interest HELOC. This serves two purposes, lower interest rate on remainder of debt owing on house and a flexible monthly payment down to a minimum if need be. Hopefully this would be temporary but it's comforting to know you have that option. More wiggle room in case of cash flow emergency. I am not advocating HELOC as ATM.
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When I was buying my first house outside Canada, a US bank wouldn't look at writing a CDN mortgage and a CDN bank was gun shy about a mortgage on a property on US soil. Secured LOC was a good option, I wanted $150k, they gave me $300. Lady at the bank said credit was tightening up and I should take advantage when it was available. There's nothing on it right now, but you can see how tempting that is to a LOT of people, 3.5% and they don't care WHAT I buy with it.
I know people that are two paychecks from complete doom.
I know people that are two paychecks from complete doom.
I understood
My Heloc rate is on par with my mortgage so for me that wouldn't be an option or a smart one at least.
My Heloc rate is on par with my mortgage so for me that wouldn't be an option or a smart one at least.
I understood
My Heloc rate is on par with my mortgage so for me that wouldn't be an option or a smart one at least.
If the interest rates are the same, no gain there obviously. What about a cash flow crisis? If your mortgage contract is written without any safeguards you HAVE to come up with that amount. With HELOC the minimum payments are lower than typical mortgage payments, one reason being, to qualify for HELOC you already own majority of the house. Also if you pay your mortgage off using HELOC the home is yours. Yes, HELOC is tied to your house but owning it is one more firewall. Anyway, that's what I did, that's probably reason enough not to do it
Who the heck has a mortgage at 5.9% right now though? People with credit issues perhaps? At which point would they even be eligible (or have sufficient equity?) to get a HELOC at a better rate?
This is where it all doesn't make sense to me.
Me too. Lots of toys in the garage of the big fancy house though in the meantime, vacations to exotic destinations, always a new car or 2 in the driveway. And <10% equity in any of it, bank owns everything.
And unknowing of their situation, a lot of people envy them. If only they knew.
I often wonder if these sorts or people consider their retirement years when the house of cards collapses, they still owe half their mortgage after they retire, they toys are all gone or worthless but they still carry debt for them, etc etc.
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Dresden
Well-known member
Agreed. People (in general) will spend whatever they can get their hands on and are generally nearsighted - I.e. buying decision is based on payment schedule rather than asset price. This is never going to change and gets worse as modern civilizations progress.
The truth about our RE market lies in the affordability of monthly payments. Here’s a mini study of factual info I have pulled from stats Canada, and CIBC’s historical lending rates - http://www.fin.gov.bc.ca/PT/bcm/ref/cibcHistoricalPrime.pdf
Assumptions: Average monthly payment is calculated using a Conventional mortgage-5-year at 2% higher than the BOC prime rate to keep consistency.
Year: 1960
Average house price: $150k
Mortgage Interest Rate: 7.5% (BOC – 5.5%)
Avg. monthly payment: $1,097
Median Household Income: 35,000
Income/mortgage pmt ratio: 37.6%
Year: 1974 (around the peak followed by period of tapering off of 10-15%)
Average house price: $260k
Mortgage Interest Rate: 11.75% (BOC – 9.75%)
Avg. monthly payment: $2,638
Median Household Income: 40,000 (approx)
Income/mortgage pmt ratio: 79%
Year: 1989 (around the peak followed by a quick crash of around 35%)
Average house price: $450k
Mortgage Interest Rate: 15.5% (BOC – 13.5%)
Avg. monthly payment: $5,771
Median Household Income: 40,000 (approx)
Income/mortgage pmt ratio: 173% - math is obviously getting funky here and this can’t be true, but it just shows the amount of speculation and “always gonna go up!” thinking at the very very peak.
Year: 2015
Average house price: $622k
Mortgage Interest Rate: 4.7% (BOC – 2.7%)
Avg. monthly payment: $3,512
Median Household Income: 76,000 (approx)
Income/mortgage pmt ratio: 55%
We are still a ways off from this supposed crash which I think will be when it gets to 65% territory. When it comes, it will be swift and harsh IMO; but that won't happen until there is a breakdown across multiple asset classes.
Lamborghini Countaches that were selling for 100K 6 years ago are now close to 600K. Same story with 80's porsches and anything with limited production... Art etc.
Scary times indeed, but no different than history which always repeats itself.
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SurrealTrip
Well-known member
It's ridiculous but my wife and I get our house re-appraised every couple of years and increase our HELOC accordingly. We haven't actually used it yet, but if a serious market down turn ever comes I plan on being a land baron (lol).
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