2022 Tundra vs 2022 F-150 opinion?

Yeah its like taking a gamble picking a rate and term, because no one knows where rates will be in a few years depending on the term.
All the people who locked into sub par 2% rates in 2020 during Covid, many have started the process of renewing with the higher rates.
We are renewing in two more years locked in at 1.6% for 5 years.
My payments on say a 5.8% mortgage will go from right now 70% principal and 30% interest .... to the new payment of Principal 30% and interest 70% interest .... And the total payment amount will go up 30%.

In the late 80's Ontario houses were $200k and the mortgage was 18%. I had one of those houses and at those rates. Was paying $2200.00 month. Today those same houses are $1.2 million. Say you put $200k down deposit and the rates are i.e. 5.8% 3yr fixed. Thats $6300 month just for the 1 million mortgage on this GTA house. It takes more % of income today for the Ontario mortgage, than in the 80's, but prices still havent come down alot.

 

That is absolute horseshit my friend. My condolences. Now I know why my Canadian Boss moved to the US. He is always bitching about how expensive Canada was for everything.

 

We all have our reasons for living where we live. I think we are very fortunate considering some of the things that are happening around the world these days and those people are stuck in the middle of it. It's not always about money.

 

Thx. but don't feel sorry for me. I am a baby boomer and have watched the prices go nuts. Feel sorry for the young people trying to buy their first house. Also everyone that took a variable rate in 2020 has been paying 110% interest for the last 2 years. Their mortgage balance goes up every month if you can believe it. Banks have been helping them but when the mortgage term is up they will need to re-qualify.

People here think prices will still go higher so they keep paying that mortgage and the banks....they cant take the properties and cause a run on listings, and lower prices, because it puts the value of their collateral (the house) and the mortgage they hold on it in jeopardy. So they allow those that have variable rates that went from 1.5% to 8.0% for the today variable rate to just cover most of the interest. Canada's housing bubble is at the top when compared to the world .

 

Well I have never been, but I would love to come visit and fish and see the wide open spaces. Just think that sort of mortgage extortion can burn in hell, that’s all.

 

We were able to refinance in 2020 at 2.25% on a 30 yr fixed.....I'll be riding this one out.

 

Its not all bad. The term length is unfortunate as those years go by quick. But we can port our mortgage if we have a good rate to the new house we buy. We do need to re-qualify on the new place.
And we also have a "Trump" card for now.
We don't pay capital gains tax if you are selling your principal residence, and it has gone up in value since you bought it.

Its my opinion that if the Feds removed this principal residence exemption "loop hole", with say an expiry date of end of this year 2024; it would cause alot of Baby Boomers to list their place to not pay capital gains tax. This would flood the market with supply, and prices would come down. But what do I know.

 

But then where would those boomers live? They'd buy just as many houses as they sold. Or they'd take over the rental market and drive prices up there. No free lunch.

 

In Ontario 1 of 2 extreme problem areas (the other BC)
Its about 1) affordability and 2) supply of affordable homes.
By removing the exemption the boomers sell and move into 1) retirement homes, 2) Condos 3) with family, or 4) buy much smaller places.
I know of 1/2 dozen people at the top of my head, whose kids have left, one or two people in a 3000 sq foot home.
The selling and supply would bring prices down, and the lower prices overall will spur building of new homes as well.

We moved 3 years ago. One of the reasons (not the main one) was I predicted they are going to take this loop hole out.
They have to. Or stop immigration. We had been in our house almost 30 years. Don't know when but it is going to happen.
Yeah, its political suicide for whoever makes the call. Thats why a phased in approach is needed** .
People here will be defaulting on the truck loans first.
They will do everything they can to hold onto their house.
Sorry to deviate from F150/Tundra.

** has to be a party that is 1st year in power. So they have 4 years to make people forget.

 

is there any topic we have not covered here, lol. houses, interest rates, investing, Canada , USA,

holy catch all thread.

Dr.Z needs to buy a new truck to change the topic here.

 

As long as it's not a Ford I think we would all be OK with that.

 

I ended up with a 3% bi-weekly "15-year" (so actually 13.5 years) in the first half of 2020. Still not complaining since that move will save me $50k in interest over my previous 4.5% 25-year.

Had I waited a little longer I probably would have been below 2% on a 10 year!

 

You can have your home paid off, but the govt taxes are there to let you know you never fully own it.

 

I’m curious what comes first. 24 raptor, Sierra EV, or cybertruck.

does LC count as a truck because its first on deck. Also Tacoma TRD pro but the LC is the only one with a hard allocation sticker

 

24 Raptor R or the new Ram with the high output Hurricane.

 

Sorry, a LC is a SUV. As for the other two, the Dr. must have deep pockets. Should've known.

 

You think there are early adopter issues with a Toyota, that will be nothing compared to a new turbo motor from Stellantis.

 

I am thinking if the Ramcharger looks promising in 6-7 years I will trade my powerboost for that and skip a muscle car.
If the Ramcharger doesn't look like it will pan out I'm getting either a Mustang or the new Charger in addition to my truck. Then when the Powerboost is done I'm looking for a used half ton.

My wife who is ironically working towards diamond status on Royal Carribean won't really fight me on any of it but keeps asking if I'm past the muscle car stage in life and if maybe I don't need that anymore. If I ask if she needs to spend what she does on cruises you'll find me on a milk carton

 

I have a theory that the low end "sports car" (charger/mustang/camaro) declined in popularity because pick-ups are so fast and powerful now. Stock my truck will do 0-60 in 5.3, with a sub-$1000 tune you can shave a second or so off that time, even with the 33" all terrains. And they make a great family vehicle when compared to the sports car.

 

True story, mine tests at mid 5s 0-60 in most publications and is a hair quicker than my porky ass Challenge RT was through the 1/4. It is like a drop kick in the ass in Sport mode. I loved that car's looks but it needed to go for numerous reasons and the Powerboost's performance took a considerable amount of the sting out of dumping it.

Camaro gone. Dodge will be down to just the charger. They have to be performing like Vettes did a few years ago to worth it. I'd guess Having to infringe further into Vette territory was probly a consideration for Chevy.

 

Sport mode is so insane. Do you have 4A on your Powerboost? It's a different 4A system than I have on the Tremor but I'm sure it still gives you a better launch than 2wd.

 

Nah, negative. I lost out on 4a and leather cancelling my Lariat order and taking a 302a lot truck that popped up unexpectedly at a local dealer 5 minutes from my house that I kept stalking waiting for something close enough to my order.

 

I will also add that she has caught me off guard chirping into 2nd and maybe 3rd a couple times in some spirited driving.

 

The F150 Sleeper is a cool truck. I know you two are running EB motors, but a Tremor with the 5.0 and the supercharger on top would be pretty slick.

 

I ordered a 5.0 despite the first salesman trying to talk me into an Ecoboost, insisting I am that dinosaur that will hold onto muh V8 til someone rips it from my cold dead hands no matter what he tells me about the Ecoboost. After telling him that I found a Hybrid rolling IPAD sitting in front of another dealer and cancelled that 5.0 and went and snapped it up.

Go figure

 

Yeah, that would be bad ass. In 22 the 5L was not available with the tremor, and they had not yet released that supercharger either. But if both of those things would’ve been available, I may have considered it. I would not get that V8 over the eco-boost, unless I planned to supercharge it though

 

One way or another, they get theirs, but it'd be nice to not have to think about it.

 

I could save so much money if I was willing to go without 4A. It's the single non-negotiable that always pushes me to a Lariat. Otherwise, the XLTs can have everything else I really care about now.

The other Lariat-only options are nice, don't get me wrong, but without 4A they wouldn't be worth the price increase. And some (like leather) is easy enough to add later.

 

anyone looking for the limited edition 1794? Got two of them only $80k each .