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[GandiBaat]

If they try extending amortizations to 90 years: stagflation
If they try lowering interest rates abruptly: Canadian Pesos

There is a third possibility. A mild-moderate recession in USA followed by lowering of interest rate again, all over. 2008 kind of response once again. I will hate to be right again but it seems this is the direction we are moving. One component is present, right now holding money in bank has become more desirable than investing it in business. The other component is supply of commodities causing inflation.

What can cause that component? Many thing:

1. Death of Putin followed by end of war in Ukraine. All of a sudden Russian wheat, gas and hydrocarbons will be acceptable/available all over again leading to (over?) supply and price correction of important commodities, which combined with very high interest rates will cause a minor deflation in US. Why spend money in these commodities when they are cheaply available?

2. Capitulation of Ukraine. Again similar to above. Ukraine is now reaching its tipping point and war fatigue is setting in. Plus, its been dragging for too long now.

3. Change of regime in US followed by policy shift. Basically another way 2. may play out.

The biggest reason? ALL BANKS in Canada are offering MASSIVELY expensive 1-2 years mortgage but much cheaper 5 year mortgages. This was seldom the scenario in past. 1 year mortgage rate is more expensive than 10 year rate right now! That never used to happen AFAIK. Further damning? Variable rates for 5 year are MORE than for fixed rate!

Source : https://www.td.com/ca/en/personal-banking/products/mortgages/mortgage-rates

Basically, they expect to lock you in for 5 years at higher interest rates. These bastards know more than all of us. Their pricing shows only one thing. They expect chances of lowering of inter bank rates in 2-3 years horizon significantly this is why they are cajoling people to 5 years ones so that they can lock you in for that period. And the same reason why they are pricing variable rate higher. They expect reduction in interest rates.

 

[zarashah]

I got RPRF request and paid last week, after that eligibility completed on tracker and 3 Ghost updates in gckey that application updated, but when I open nothing is changed and last update showing biometric completed,

If that a good sign

 

[Alysson]

If you can solve python leetcode problems.

Yeah I’m trying to learn python and SQL now to change fields into data analysis, because there isn’t much growth in mine and am tired of it. My gf works remotely as developer for a Quebec company, works 3 hours a day coding and makes 140k. The possibility of subletting my apartment and working remotely back home for a few months sounds great to be honest.

 

[RSub]

Is it still worth it to move to Canada in 2024? Looking at all the negativity I'm feeling a little disheartened.

Only if you are highly skilled. Otherwise, don’t bother coming here.

 

[Impatient Dankaroo]

Only if you are highly skilled. Otherwise, don’t bother coming here.

@RSub how are you doing? did you get a job? what city did you settle in?

 

[GandiBaat]

Yeah I’m trying to learn python and SQL now to change fields into data analysis, because there isn’t much growth in mine and am tired of it. My gf works remotely as developer for a Quebec company, works 3 hours a day coding and makes 140k. The possibility of subletting my apartment and working remotely back home for a few months sounds great to be honest.

Mah man! Join the club bro! Hit me up if you ever need to talk about coding or stuff like that. Happy to help a fellow immigrant!

 

[RSub]

@RSub how are you doing? did you get a job? what city did you settle in?

Yup. Luckily, moved with a job in January. Currently in Burlington. So far things are fine. How are things with you?

 

[Psyoptica]

Mah man! Join the club bro! Hit me up if you ever need to talk about coding or stuff like that. Happy to help a fellow immigrant!

i’ll hit you up soon bro regarding some questions I have and bounce off some ideas.

 

[GandiBaat]

i’ll hit you up soon bro regarding some questions I have and bounce off some ideas.

At your service

 

[GandiBaat]

Only if you are highly skilled. Otherwise, don’t bother coming here.

In my very humble opinion, skill is not as much of a determinant in Canadian market as having a job lined up or having qualification to get one. Its a weird place. My taxi driver in North Van was the best "doctor" I have seen. He had a knack for listening and advising but he could not practice due to red-tape. He had about 10 years of experience under his belt in Iran but that did not impress BC govt. I still remain in contact with him. Checking on what he is doing.
IT or CS in Canada is also weird. One of my friend is facing this music right now. Employers do the most advanced interview for a post that neither pays well nor requires that kind of skills. Worst part, interviewers also do not know the answers that well!

 

[abhiram.kumar]

In my very humble opinion, skill is not as much of a determinant in Canadian market as having a job lined up or having qualification to get one. Its a weird place. My taxi driver in North Van was the best "doctor" I have seen. He had a knack for listening and advising but he could not practice due to red-tape. He had about 10 years of experience under his belt in Iran but that did not impress BC govt. I still remain in contact with him. Checking on what he is doing.
IT or CS in Canada is also weird. One of my friend is facing this music right now. Employers do the most advanced interview for a post that neither pays well nor requires that kind of skills. Worst part, interviewers also do not know the answers that well!

This is highly subjective and depends from person to person and employer to employer. There isn’t any generalised approach to hiring in Canada. I personally know highly skilled people with 0 Canadian experience and qualifications get jobs at the same level as back home. They were just very good at convincing their employers that they had the right skills. Sometimes, you just have to admit that while certain immigrants look good on paper, they are trash when it comes to communication and job skills.

 

[GandiBaat]

This is highly subjective and depends from person to person and employer to employer. There isn’t any generalised approach to hiring in Canada. I personally know highly skilled people with 0 Canadian experience and qualifications get jobs at the same level as back home. They were just very good at convincing their employers that they had the right skills. Sometimes, you just have to admit that while certain immigrants look good on paper, they are trash when it comes to communication and job skills.

Its not that much subjective.

If your profession is "regulated" just forget about it. Your skills dont matter at all. This covers ALL of engineering leaving software engineering. Actually, strictly speaking you can not call yourself an engineer (even software engineer) without kissing the ring of engineering "guilds" or rather mafias like EGBC.

Same is in trades.

Same in medical profession.

Actually same in teaching but they have a major shortage of human resources in teaching so in BC (and I guess in Ontario as well) they allow you to start your job while you are kissing the ring.

This is why almost everyone has to do really stupid minimum income retail jobs.

Software and certain management jobs are perhaps the only major exception and that is because major employers can be non-Canadian.

 

[Hopeful007]

Its not that much subjective.

If your profession is "regulated" just forget about it. Your skills dont matter at all. This covers ALL of engineering leaving software engineering. Actually, strictly speaking you can not call yourself an engineer (even software engineer) without kissing the ring of engineering "guilds" or rather mafias like EGBC.

Same is in trades.

Same in medical profession.

Actually same in teaching but they have a major shortage of human resources in teaching so in BC (and I guess in Ontario as well) they allow you to start your job while you are kissing the ring.

This is why almost everyone has to do really stupid minimum income retail jobs.

Software and certain management jobs are perhaps the only major exception and that is because major employers can be non-Canadian.

Yep, this is basically the Canadian economy, monopolies, oligopolies, and regulations in pretty much all sectors. It's kind of in its own equilibrium, albeit going downhill without immigration. However, Trudeau disrupted the equilibrium with too much immigration.

 

[Impatient Dankaroo]

Yep, this is basically the Canadian economy, monopolies, oligopolies, and regulations in pretty much all sectors. It's kind of in its own equilibrium, albeit going downhill without immigration. However, Trudeau disrupted the equilibrium with too much immigration.

Yeah, Canada had so much potential. I even considered joining the Canadian Armed Forces as a Part-time reservist since they made it open to PRs. My family has a history of joining the military so I looked into it but apparently the wait-time to joining is 2 years or something once you apply (potentially). Lol nah f that

 

[RSub]

As if home owners will reduce the rent..!!

Feds to remove GST from new rentals