Say you own a condo in Vancouver and a house in Ottawa.. If you’re an MP that needs to move back and forth than you might need a little extra help covering those bills right? Well no problem! It turns out that MP’s get a $75 per day meal allowance that can be used to pay down the mortgage.
The per diem is in addition to a $25 daily accommodation allowance MPs receive year-round if they own a second house or condominium in the capital, and using it to buy a home is allowed despite a rule forbidding mortgage payments from a separate $24,000 expense allowance.
Combined, the per diem and the accommodation allowance could add up to $17,225 a year for house costs and mortgage payments if an MP spends only four days a week in Ottawa while Parliament is sitting.
The $25 daily accommodation allowance is available without receipts throughout the year as long as the MP does not rent out the residence.
Though the $75 per day comes from a meal allowance, I think it should be noted that eating houses is ill-advised and can lead to indigestion and nausea.
Interesting article in the New York Times about owners refinancing with adjustable rate mortgages. $400 billion worth of this type of mortgage is resetting this year in the U.S., next year it’s set to be one trillion dollars worth.
It is the latest twist in the gravity-defying world of the high housing prices and exotic low-rate mortgages: As monthly payments on adjustable-rate mortgages are starting to balloon, many Americans have found a way to put off the day of reckoning.
They are refinancing with new adjustable-rate mortgages that keep monthly payments low â€” for now, that is, though their payments will likely rise even higher in the future.
I guess it will be easier to pay the full load of debt in the future?
Are you ready to become so INCREDIBLY RICH that you no longer have to adhere to the standards and conventions of ‘civilized’ society? Are you TIRED of eeking out a day-to-day existence while you can smell THE REEK OF WEALTH all around you? Would you like to be able to walk through the mall without any pants and be so EXCESSIVELY WEALTHY that no one can utter a word about your pantless state, lest you unleash your personal squadron of vicious attack lawyers destroying their lives and reputations?
Well NOW you CAN!
Yes! Thanks to the MIRACLE of BOUNDLESS increases in PROPERTY VALUE you can now become a MULTI-MILLIONAIRE by investing in real-estate. And the best thing about it? This process requires NO EXPENSIVE COURSES OR SPECIAL EQUIPMENT. You don’t need any special skills or knowledge – In fact, you don’t even need a brain! THAT JUST HOW EASY IT IS!
Here’s how its done:
1) buy real-estate
2) sell real-estate (for more than you bought it for)
3) repeat and profit!
This SIMPLE MONEY-MAKING PLAN will see you swimming in your own personal GOLDEN BATHTUB filled with 50 dollar bills within a week. Within a month you will have SO MUCH MONEY coming in that you can hire people to MAKE MONEY FOR YOU. Within a year you will be so RICH, so INCREDIBLY WEALTHY that you will be able to buy yourself a SOLID GOLD SPHERE THREE HUNDRED MILES IN DIAMETER!
You will have the power to BUY AND SELL other people for your own amusement. Earth will be your playground and all that hear your name will COWER IN FEAR. So what are you waiting for? GET RICH NOW!
Why am I sharing my MONEY MAKING SECRETS with you? Because I care. I know that you personally have the RIGHT STUFF to dominate the globe and I want you to SUCCEED. And just to show you my generosity, my utter lack of personal greed or selfish motivation, I have just the thing to get you started. It’s a small leaky condo on the east side and it can be your stepping stone to UNLIMITED MIND-BOGGLING RICHES.
And because I care about you, I’m starting the bidding at only $600k. You can email offers to me at firstname.lastname@example.org
They’re laughing at us in Saskatchewan. That just isn’t right. Don’t they know that the ocean and mountains mean that we don’t have to focus on mundane issues like ‘affordability’ or ‘soul-crushing debt load’? When every condo in Vancouver has quadrupled in value by 2010, THEN we’ll see who’s laughing.
The mainstream media is starting to impinge on the territory of the crazy unwashed blogger.
This article in the Ottawa Citizen seems to be fairly balanced and could be interesting for anyone wondering about the bubblicious state of real-estate around the world, particularly in vancouver. Some interesting numbers at the end as well, I wasn’t aware that average prices in Sidney Australia had dropped 16 percent since 2003. Clearly this must be a typo. Everyone knows real-estate never loses value.
Someone needs to remind the mainstream media to stay away from stories like this. This kind of talk should be left to loony bloggers and conspiracy theorists.