Sunday Link Love: April 10, 2011
Young adults holding off on home ownership
This Moneyville article is interesting. Basically, what it comes down to is that because rising home prices continue to out pace income growth, and the changes to the mortgage rules, a lot of young adults are delaying home ownership. And the ones that already have purchased their own place, are saying that their mortgage was eating up too much of their income. They are also cautioning first-time buyers to hold off and wait. I think this is a pretty valid concern, and why it’s so important to crunch the numbers and be sure that you’re really truly ready for home ownership. And remember – just because you get approved for a certain mortgage amount, doesn’t mean you can truly afford it!
In my own property search, I’m learning so many things about myself. But the biggest thing I’ve learned is that, even when I’m shopping for the biggest, most exciting purchase of my life, I am still extremely budget-conscious. I guess I always thought I’d be willing to go to the maximum of my “comfortable” range for the right place. Well, I’ve seen great places that were just a tad too expensive. And as much as I liked them, I couldn’t justify it to myself. Owning a home would be a huge accomplishment and a major milestone, but it isn’t everything in the world to me.
Man Wakes Up From Bender With Financial Problems Solved
I am absolutely in love with this article (from The Onion). Wouldn’t it be amazing if we could all have our financial problems solved simply by going on a 36-hour drinking binge? Here are a few of my favourite quotes from the article:
“The last thing I remember is getting a second tray of two-for-one mug-a-ritas with the guys from work,” Taylor told reporters. “Next thing I know, I’m coming to on my couch, I’m nauseous, my head’s pounding, and I’m fully vested in a Roth IRA that’s completely deductible and contains a diverse spread of steady dividend-paying stocks with an impressive tax-to-growth ratio.”
“There’s all kinds of things I don’t remember, and though most of them are documented in this big accordion file I found on the coffee table here, many questions remain,” Taylor said. “Like, how did I get my credit rating up over 750, and on a weekend? Did I really sell my Jet Ski for more than I paid for it? Why is there an entire pizza in the glove box of my car? Lucrative or not, I don’t think I ever want to get that drunk again.”
Around the blogosphere
- Money Rabbit talks about how an offer on a condo fell through, as did her relationship with her boyfriend
- Here are some great money-saving tips on quitting smoking by Young and Thrifty (maybe I should forward the article to my mom)
- Financial Uproar contemplates his mini retirement dream of taking a summer to travel and see games in all 30 MLB stadiums – hey that’s one of my dreams too! :)
- Cassie at Digging Out and Up wrote a great two-part series about how she got into debt. Start with Part 1, then jump to Part 2!
- Mike Holman reviews his HSBC online business chequing account, and why it works for him
Not quite PF-related
I found this blogger infographic to be really interesting. Did you know that 13% of worldwide bloggers consider themselves to be part-time professional bloggers? Or that professional bloggers on average, blog for 10 or more hours a week and have 3.5 blogs? 3.5 blogs!? Who has time for that! I am blogging way more than 10 hours a week and can only keep up with 2 blogs.
11 Responses to “Sunday Link Love: April 10, 2011”
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I love 'Sunday's Link Love'
Thanks! :) It's a new thing I've been trying out for a few weeks.
Loving the onion article – it got a good guffaw from myself. I agree with your other readers though, the sunday links are a good read. Nice to see that it's not all just shoutouts to other blogs. Will be reading more…
The Onion article almost rings true for me! One morning I woke up and checked my credit card balance, only to see in my sleepy haze that there had been a $5,000 payment on it. I was wracking my brain to try to figure out what had happened, phoned the credit card company to see what was up and was starting to think that some secret good samaritan had decided to fix my money woes. Then some very vague drunken memories came back to me… when up one night and under the influence I had for some reason decided to apply for a balance transfer. True enough, when I checked the mail a few days later my new credit card was there with a $5,000 balance. Sigh.
I'm flabbergasted. Thank you for including my posts in your link love!
My recent post Lessons Learned
Anytime! :) I love love love blogger confessionals. And your story reminds me a little bit of my own journey into debt.
Thanks so much for the mention.
I liked that Moneyville article as well. It seems like people are buying properties younger these days, which isn't always a great idea. It can really limit your mobility.
My recent post LinkStuff – Free At 45 Book Edition
Cool- I like the blogger infographic! I'm spending 10+ hours a week and I only have one blog ;)
Thanks for the mention, Krystal. I didn't know your mom smoked? My boyfriend has been smoke free (hmm its been only about 4-5 days or so) since I forwarded him the youtube videos about other canadians trying to quit :) Crossing my fingers…!
My recent post Weekend Ramblings and PF Blog Love- Happy Birthday Vancouver Edition
Yeah both of my parents have been smoking on and off for as long as I can remember. They used to smoke in the house and in the car when I was living at home, and I remember getting super sick all the time. Now, they're good about it and only smoke outside. But still. I just don't see them quitting anytime soon. Even though it's so disgusting and so so bad for their health.
Thanks for the mention. If I do go on the massive baseball road trip, you're definitely invited to join me at Safeco Field.
My recent post People Who Don’t Have Cable Better In Every Way- Say Those Without Cable
Krystal! Great roundup, love the infographic, probably going to repost that. My boyfriend and I are also thinking about pros and cons of home ownership and it's rough, not just budget-wise but also in terms of location (more affordable homes are further away from the Toronto core). Keep up the great posts here and on Moneyville!