The trouble with women

Todd and his wife have this problem. Fortunately, the Doctor is in.

“My wife and I luckily bought our house almost ten years ago. After doubling up our mortgage payments and hitting all our lump-sums we have managed to pay the sucker off!!!! Woohooo!!!! Unfortunately the house also represents most of our net worth. I think we should sell, hold our cash and buy back in when house prices fall. The Wife thinks our area is hot and will be hold its value, is there any truth to her argument?”

I have no idea, since Todd neglected to tell me what city he lives in, let alone what hood. But a woman who thinks real estate is hot is apparently getting a lot more common. This week BMO popped a new survey showing (according to them) that “leading the pack” among new homebuyers are women between the ages of 18 and 34. Also: women (says the bank) want renovated houses, “where there is no extra work.” Even scarier: 52% who own houses think property values will be higher in two years, while 84% are “confident that housing values will hold in their area.”

You bet. It’s different here. Wherever that is.

Back to Todd & The Wife:

“If we were to stay here we are looking to renovate, to get the house where we want It would be a full gut. I don’t want to go back into debt. Any advice you have would be appreciated.”

So, Todd, tell me more about you.

“Both the Wife and I are in our early 40s, we have a 10 year old child. I believe the house is worth over $600,000  and we paid $322,000. To keep the house we are looking at putting over $100,000. Together we earn around $120,000 a year gross. Although our earnings have been steady I work on a freelance basis and have no income guarantee.

“Our net worth breakdown is as follows: House $600,000 (or more, hopefully); RRSP $200,000 (Combined); TFSA $10,000; RESP $20,000; Cash $50,000. So, what do you think?”

Well, of the total net worth at present, the house accounts for almost 70%. If T&TW are like more Canadians, their RRSPs are sitting in a bunch of do-nothing bank mutual funds; the RESP’s in a dead-end GIC; and the TSFA is moulding in the orange guy’s shorts. In other words, the 30% of the net worth in liquid assets is earning low single-digits while (if real estate corrects) their house has already seen its best-ever gain.

In fact, 70% in a house at age 42 is too much. Using my Rule of 90 (subtract your age from 90 to get the correct percentage of net worth in real estate), it should be more like 48%. And if they gut the place using $100,000 in capital to do the work, then suddenly the house represents 80% of their wealth. Bad idea.

A move like that would tie their financial future to the real estate market at a time when it’s obvious big change is coming. By hanging on and dumping more money into the property, they risk losing all or part of the fattest tax-free capital gain they’ll likely ever see. If they sold, they’d have close to $850,000 liquid (after costs), which could generate an income of almost $5,000 a month if invested to get 7% – enough to rent a better house, and still grow the portfolio. Better still, rent and finance that with earned income, invest the money for five years and have $1.2 million, assuming the same rate of return.

Or, keep the house and reno the poop out of it, ending up with a 5-year-old renovation, real estate worth (at best) $600,000 and about $200,000 in mutual funds and savings. Then T&TW are nearing age 50 with a kid about to spend his way through college, which means a looming retirement crunch, since most people don’t have corporate pensions (especially freelancers).  So why is this even being debated?

One reason only: emotion.

Emotion makes us believe what’s happened in the recent past (like higher house prices) will go on forever. That’s called recency. Emotion leads us to believe bad things happen to other people more than us. So it’s different here. Emotion makes us fear and vilify the unfamiliar. So stock markets must be rigged. Emotion blinds us to actual risk. So a house trumps financial assets. Emotion makes us buy high and expect higher. As it pushes us to sell in losses.

Emotion’s the enemy of success with money. And emotion drives real estate.

But I did not say women are to blame. That was BeeMo.

340 comments ↓

#1 John on 04.13.12 at 8:49 pm

1st Yahooo!

#2 george on 04.13.12 at 8:52 pm

Anyone who thinks a Great Depression # 2 isn’t in the cards in Canada please check out the following link at Statistics Canada which has a summary of the credit market debt in Canada over the last 4 years. Note the 6th line from the bottom – Total funds raised equals total funds supplied. At the end of 2011 the figure is 4.89 trillion $, at the end of 2010 it was 4.65 trillion $, at the end of 2009 it was 4.37 trillion $, at the end of 2008 it was 4.17 trillion $, and at the end of 2007 it was 3.71 trillion $.

Garth I think you better take a second look at your predictions that the average house price in Canada will drop by 15% and that Mr. Carney at the Bank of Canada will eventually be raising interest rates.

http://www5.statcan.gc.ca/cansim/pick-choisir?lang=eng&p2=33&id=3780050

Central Banks all of the world have two choces “Inflate or die” to borrow an old phrase from Richard Russell

“Richard Russell likes to say that policy makers are faced with a choice to either inflate the currency or watch the economy die a horrible deflationary death”

There will be no hyper-inflation. You should worry more about deflation — Garth

#3 Tron on 04.13.12 at 9:00 pm

Do you think the guy in the picture was feeling some emotions when the shot was taken?

Most guys under the age of 40 that I know are more afraid of their wives and what they think. I don’t believe gender makes much of a difference when the RE decisions are being made – it’s an equal opportunity for all fools.

#4 Kurt on 04.13.12 at 9:01 pm

Cute guy.

#5 Chaddywack on 04.13.12 at 9:01 pm

“No extra work!”

Damn…. to heck with these typical women, give me a 6’1″ blonde who can wield a screwdriver! :)

#6 george on 04.13.12 at 9:13 pm

I forgot to give the link to the source of the quote about Richard Russell which I gave in my post above.

http://www.gold-eagle.com/gold_digest_08/taylor060509.html

#7 Shane on 04.13.12 at 9:15 pm

Garth, how much should your net worth be at age 41

Shane

#8 Fisc on 04.13.12 at 9:19 pm

Canadian household Mortgage debt bubble continue to reach quick but Ottawa is now scared to tighten CMHC rules:

“I’m actually encouraged that the market itself is showing some correction,” Finance Minister Jim Flaherty said while visiting Alberta Thursday. “We’re not seeing so much of that in Toronto, but in Vancouver, yes. And overall we’ve seen some moderations, some softening in the residential market and I think that is a good thing.”

http://www.theglobeandmail.com/report-on-business/economy/flaherty-sees-softening-in-housing-market/article2400653/

Crazy country…

#9 Concessionman on 04.13.12 at 9:31 pm

Wow…that really hits close to home, almost the exact same scenario the wife and I are in, sans the 10 year old and 100K reno plans…

As usual great advice from GT, but what ya gonna do when your in your dream home? As in 3 acres with a pond full of Bass on the front lawn? Paid off this year and 2 minutes from the 407?

Can just rent a place like this, hard enough to find something similar for sale, let alone rent.

I’d be on GT’s advice in a heartbeat if it was a box in a sub, but hard to part with paradise even for a 100% gain..not enough (athough if an asian student came by with her daddys checkbook, we’d talk, lol)

http://www.youtube.com/watch?v=50B1cIy64uE

Wild Turkeys couldn’t drag me away…

#10 TurnerNation on 04.13.12 at 9:31 pm

For Torotonians’ ponderance (is that a word): you’ve witnessed Mayor Ford’s meltdown in the subways-vs.-LRTs debate.

Why oh why does he care so much about subways? Why would our elite leaders care so much about what they will not use. Our elite leaders travel on corporate jets, natch. Ford was even invited to Harper’s private cottage of a weekend.
Joe 6-pack rides the subway.

Answer is, I bet Ford promised his buddies sweet billion dollar subway contracts. Think about it: this fight is about money – not Sally Punchclock’s sweaty daily commute.

#11 Jpn on 04.13.12 at 9:31 pm

Mr Turner… I follow your blog and agree with most of your theories … However today ” depending on where one lives” you suggest really only a “millionaire” should acquire realestate. Am I reading this wrong ?

Evidently. — Garth

#12 Mike on 04.13.12 at 9:34 pm

Garth,

What is your feeling about the theory that there is a lot of money waiting on the sidelines waiting to “buy the dip” and as such, any price decreases will be short lived?

#13 John G. Young on 04.13.12 at 9:39 pm

I know this is not a movie blog, but I think this is relevant…

Just back from seeing “The Cabin in the Woods”.

SPOILER ALERT

The theme of the move — stated explicitly by a character towards the end of the film — is how older people sacrifice young people for their own personal entertainment and agendas.
It’s a horror movie (kind of), but for me the scariest part was being the oldest person in the theatre.
Nice to see popular culture fanning the flames of generational warfare.

#14 a prairie dawg on 04.13.12 at 9:43 pm

Bravo. And the blog was pretty good too…

#15 Walter Safety on 04.13.12 at 9:45 pm

Doing my yardwork tonight I was thinking that once you own it real estate protects you from yourself and your emotions and your worst inclinations .
All you have to do is go to sleep and you wake up in the same house with a different set of emotions .
With the stock market you can go from despair to elation in minutes .
Fear and greed in the housing market is a slow boil .
Once you own a house and because their illiquid in the short term you can ruminate,fret , froth, and emote all you want its not a quick or easy decision to sell .. .
If your cash strapped, underwater , negative cash flowing your even less likely to do something dumb like sell and burn up the last of your equity in costs .
When the house is the only thing you own the emotion and the reality merge in feeling we call trapped . Stay in your house its for your own protection -really .

#16 a prairie dawg on 04.13.12 at 9:46 pm

#5 Chaddywack

Maybe start hanging in cocktail bars more often. lol

#17 CyberD on 04.13.12 at 9:47 pm

I know this is old news…but what the hell?
http://money.cnn.com/2011/12/28/real_estate/foreclosure/index.htm?iid=EL

I was out of work for three years and was forced to sell my home.

Gah!

#18 TurnerNation on 04.13.12 at 9:51 pm

Night Sweats blog entry (3 days ago), I guess Garth was workin’ on his Night Moves, finding paradise by the dashboard light. Mixing 70s song metaphors…

#19 mid-Ontario on 04.13.12 at 10:03 pm

“Emotion’s the enemy of success with money. And emotion drives real estate.” – Garth

Emotion drives what goes on in the world. As long as most agree that RE will hold its value or go up, it will.

Love the picture. Brings back memories of Santa Monica Beach path – my oh my, the most beautiful women I have ever seen, with one beauty after another about every 50 feet walking, jogging, blading and biking on the path. Enough to make one not think of RE for a bit.

#20 anon on 04.13.12 at 10:07 pm

The report says 20% of buyers are women between the ages of 18-34. What is this relative to other sections of the market? Do you have a link to this report? Do men 18-34 only represent 5% or do they represent 19%? I hate stats presented without context – they really are meaningless without it.

Also note that the stats as quoted above (52% who own houses think property values will be higher in two years, while 84% are “confident that housing values will hold in their area”) represent ALL homeowners NOT just women.

I just feel like this blog, on occasion, targets women in inappropriate ways. I just wanted to clarify the above.

It just targets idiots. — Garth

#21 A on 04.13.12 at 10:09 pm

“Shane, how much should your net worth be at age 41″

For 2, I heard calculate back from retiring with $1.7M.

I calculate $488,324 net worth.

#22 Not 1st on 04.13.12 at 10:16 pm

If you have to keep your home to avoid a divorce, then the price drop is going to be the last of your concerns.

Instead of dropping $100K in renos, why not bite off a little very year and pay as you go. Gives you a nice little winter project every year.

Then, if you still have the house, get a HELOC and ivest that sucker. HELOCs can be had at prime and right now I am looking at Enbridge Energy partners in the U.S. yielding a nice stable 6% dividend. That could translate into an extra $20k per year and still keep your home, however, you need to be ready to ride a multi-year price dip on your house cause this market is toppy everywhere.

#23 Bottoms_Up on 04.13.12 at 10:18 pm

What makes me sick to my stomach is that a family with an income of $120,000 is living in a $600,000 home (i.e. 5x income). It’s not their fault, but if they were just starting out in today’s market (wherever that market is), they’d be looking at buying a $322,000 piece of crap that could very well be $222,000 in 10 years.

Good on them for having decent savings, and having paid off the house. But they really should think long and hard about if they could actually afford to pay $600,000 for their current home, and what that actually means.

#24 dad on 04.13.12 at 10:36 pm

Ha, Garth you should know better. Even mentioning women in any other context than glowing is just going to lead to you being accused of misogyny and receiving snark from….you can probably guess who.

#25 anon on 04.13.12 at 10:41 pm

It just targets idiots. — Garth

^^ I meant that you often misrepresent news items to slant your discussion of women in a negative fashion. That’s not targeting idiots. That is just targeting.

Examples? — Garth

#26 naga on 04.13.12 at 10:45 pm

Todd – congratulations. You and your wife/spouse have achieved financial independence.

Being mortgadge free and reasonable savings at your age is a huge accomplishment.

If you and the family like the hood where you curently live – it is worth considering renovations. Put the effort into planning what you need and want. Then decide how to execute – including staging to avoid going back into debt.

A significantly better option is to stay put and if/when RE prices drop borrow your down payment for rental RE. Since you are a freelance professional you can dedicate some of your time towards looking after your rental RE for big returns and tax write offs as well – especially if you go multiunit rental.

My strategy and advise is to stay in control of your destiny (money) and avoid costs of buying and selling RE – unless they can be written off as a business expense to reduce taxes to F/revenue canada agency.

At current interest rates you may want to consider to borrow to establish a portfolio of good divident yielding securities (Mutual Funds, Stocks, ETFs, Trusts) which pay enough to retire the debt over 20 years. Based on your current family income you should consider about $200,000. You will achieve a rebalancing of your portfolio without selling your home or reducing cash flow and if structured with the right securities you may be able to create a tax refund as well.

Good luck and in you situation your challenge will be not to spoil your kid as you can easily afford to.

#27 JSS on 04.13.12 at 10:50 pm

Beautiful picture.

May I use it for as a wallpaper background on my work computer?

#28 Westernman on 04.13.12 at 10:58 pm

Good post,
It’s true about women being the drivers in the relationships to acquire massive RE debt loads but they are not really to be held accountable – their DNA programming forces them to be the way they are.
It’s the men’s fault because it falls on them to be MEN and not protracted adolescents and take control of the situation and make logical decisions to prevent emotionally out of control women from running the train clear off the tracks.
This is where Canadian ” men ” and I use that word loosely in descibing what passes for men in this country fail totally and completely.
The result is utter chaos – financially and socially.
You left wing counter culture bleeding heart socialist crybabies may now commence name calling…

#29 blase on 04.13.12 at 10:59 pm

Bottoms_Up

“a $322,000 piece of crap”

Actually, must cities, even in the GTA, have fine houses for that price. The problem as the BMO survey shows, is that women all want to move into a renovated/new house. My parents bought a house for $100,000 in Calgary in the mid-80s; it was a 4-level split, 3 bedrooms upstairs, no on-suite, no walk-in closets, lino kitchen (but a water tap inside the fridge that was the bomb!), wood paneling galore in the rumpus room downstairs, detached garage in the back. We LOVED that house, having moved from a condo. We knew all our neighbors, tons of kids to play with, and tons of room to play in the house. Couldn’t have felt safer and never felt we were going without for even a minute. Today, most buyers would scoff at a house like that, because they would consider it dated with no bling.

We have become a people that value style over substance. People would rather live in debt and month-to-month paycheques, leasing new cars, taking out loans to pay off credit cards and to get downpayments, than looking 5 years down the road to where all that debt is going to lead, desperation or bankruptcy.

In the 80s, you were upper-middle class if you had a microwave and a VCR! We used to rent a VCR and 2 movies from the convenience store every second Friday. What a thrill that was, to pick out a couple movies, get some chips and a coke, mom and dad cook up a Chef Boyarde pizza, where god forbid, you actually had to make the dough from a premix package!

Nowadays, that’s been replaced with a $5 coffees, DVD players in the minivan, $100 hockey sticks, $20,000 kitchen remodels, and ordering in delivery 3-4 days a week. In the 80s, hardly anyone ordered in food. Pizza delivery was nearly unheard of. I guess that changed with free trade from the states, when all the chains starting popping up everywhere. It’s happening here in Korea, where in the last 5 years, Korea has gone from being a very skinny nation to having an obesity problem among children and young adults. The government has done nothing to stop it.

Anyway, Canada needs a good slap in the face. People have been living “high on the hog” for the last 10 years, and their priorities have become wildly messed up. People need to go outside, plant a garden, throw away their iphones, and get some damn perspective. I hope it will happen this year. Canadians would be a happier bunch if they had money in the bank and weren’t trying to keep up with the broke Jones’ down the way.

#30 anon on 04.13.12 at 11:00 pm

Examples? — Garth

^^ example 1 is above. Don’t play stupid, because I know that you are not. This post targets women inappropriately. Misogynistic title, a picture to match. BMO did not say women are to blame, you insinuate it in your discussion of their findings. You focus in on one stat, yet don’t present the whole picture. You’ve done it before and I have called you out on it. Sorry, I don’t make a habit of bookmarking your sexist posts. I have better things to do.

Honestly, I wouldn’t have such an issue with it if you weren’t so inflammatory with your posts. I simply wish, when discussing differences in gender (or race etc.) that you would simply present facts (the WHOLE picture) without a biased slant to boost readership.

If you only knew… — Garth

#31 TurnerNation on 04.13.12 at 11:04 pm

http://www.thegridto.com/life/real-estate/tiny-condos/

Tiny condos

Condos measuring 500 square feet or less are multiplying like rabbits all over the city. Here are six that were just snapped up.

BY: Denise Balkissoon
38 Niagara St., Unit 303
Neighbourhood: Niagara #KGW
List price: $299,900

Sold price: $299,900 (maintenance $214)

Last sold price: $181,000 (2008)

#32 Lorne on 04.13.12 at 11:07 pm

My reply from Global BC News on my two complaints…about the Marine Gateway lineups and the Cam Good helicopter tour to the 14 m exclusive property…..any comments I should include in my reply to them?

RE: CBSC File C11/12-1458

Your letter to the Canadian Broadcast Standards Council regarding Global News’ coverage of two real estate-related stories has been forwarded to me for reply.

Global News strives to uphold the highest level of journalistic integrity and ethics at all times. Members of our news team are educated to make programming decisions thoughtfully and with sensitivity, in accordance with community standards. We follow stringent guidelines set out in our Global news Journalistic Principles and Practices. We also adhere closely to the Canadian Association of Broadcasters’ (CAB) Code of Ethics and Radio Television Digital news Association of Canada (RTDNA) Code of Ethics.

Television news organizations are given the task of providing a broad spectrum of news and information for a wide audience. What one viewer may consider an interesting and compelling program, may lead another to change the channel. Each viewer will have his or her own interpretation based on personal background, experience and values.

Your first complaint relates specifically to Global BC’s march 17, 2012 report on the Marine Gateway project, the first of three major developments approved by the city of Vancouver for the south Cambie corridor. You questioned how it qualified as news? It was your opinion that it as simply and advertisement for real estate (to) ensure the masses mistakenly bid up prices…something you felt a ‘news’ program should not encourage.

In your second letter, you take issue with a March 26, 2012 report on an Asian buyers’ tour scouting for high end Metro Vancouver properties. You assert that the prospective buyers are not really from China but rather local residents of Asian descent; that the listing is not as exclusive as it appears to be; and you question whether the so-called buyers- who do not want to be interviewed on camera- are in fact, really just ‘actors’.

In both letters, you reference RE/Max as being a ‘major sponsor of the news’ and that (Global) is heavily subsidized by the real estate agency. It is also your opinion ‘they should not be able to camouflage their stories within a news broadcast’ and infer that (Global) was ‘maybe…paid for this little piece of misleading ‘news’.

I have reviewed your concerns with both stories carefully. First, I find Global BC’s decision to report on the lineups for the Marine Gateway project to be editorially sound. That decision was supported by actual events, that being the hundreds of people who lined up for hours for an opportunity to buy the more than 400 units that were up for sale. The units were snapped up with hours. Other Vancouver media outlets also deemed the event newsworthy.

With regard to the Asian real estate tour, the reporter did his research on this story. He verified that the potential buyers were in fact from overseas and that they were seriously interested in buying property – not just posing for the cameras. As for the exclusivity of the listing, the reporter stated it was listed by a private listing service. He did not say the listing was “exclusive”, merely that it was ‘discreet’, in that there were no “for sale” signs on the property.

I should also point out that the reporter on this story is the former Global National bureau chief for Beijing. His contacts within the Chinese community…on both sides of the Pacific are excellent. And he has seen first hand in China, the focused Metro Vancouver real estate marketing push, which he referenced in his report.

Finally, let me clarify Global BC’s relationship with ReMax. Simply put, ReMax sponsors our weather segments. It has no say or influence regarding our news program content. In the Global BC Newsroom, editorial decisions are made solely by our managing editors and journalists.

Real Estate related issues, are and will continue to be a hot topic of interest to Metro Vancouver residents. We report on all aspects of the issue. For instance, we recently ran an extensive story on the predictions that the condo market was poised to crash because of condo glut and overinflated prices.

We do take your concerns seriously and you have my commitment that your concerns will be discussed with our senior editorial managers.

Thank you for taking the time to provide us with this feedback, it is most useful as we try continuously to improve our service to the community.

Ian Haysom
Global BC News Director

#33 blase on 04.13.12 at 11:07 pm

One more thing…

Whatever happened to carpet? Is it just me, or did family homes seem a lot warmer and cozier when people had carpet? I can see the appeal of carpet in some homes, but I predict carpet makes a comeback soon. Keeps your toes warm, braces the falls of little ones, might even save on heating bills since wood floors feel cold more than half the year.

#34 $$$BPOE#1 on 04.13.12 at 11:08 pm

The story is sketchy for sure. Only 120k a year and 50 k in cash, 200k in RRSP etc etc.. Sounds fishy

#35 Dan in Victoria on 04.13.12 at 11:12 pm

Question for you Todd
Have you ever done a full gut reno?
Where abouts are you?

#36 $$$BPOE#1 on 04.13.12 at 11:15 pm

Banging the doors with two fists trying to get in. Lovin it Prices set to soar

http://www.vancouversun.com/Immigrant+investors+must+more+privilege+Canadian+residence+minister/6456967/story.html

#37 Narrowgate on 04.13.12 at 11:18 pm

It’s different here in Canada. The rules of economics don’t apply here.

#38 The Thing in the Basement on 04.13.12 at 11:20 pm

Just some numbers for Todd. A $290K mortgage paid off over 10 is about $3k/mo average, so $100K over the same time is about $1K. So Todds got an extra $2K/mo for investing. And he’s managed to save at least part of a
$200K RRSP etc. with that $3K/mo payment.

So Todd has done well and proven he can save, payoff
debt and live frugally.

Some questions he should ask himself:

1) How confident am I in my income?
2) How long can I live in this house, even with renos?
3) Are there other things I’d rather do with my money?

As much a lifestyle choice as an economic one.

And Todd, don’t speculate with the family house – either way.

#39 Burnt Norton on 04.13.12 at 11:35 pm

In my estimation, the gender / emotion RE issue is based on security, or lack thereof.

The idea of ‘owning’ a home (as opposed to renting one) represents tangible security that in many cases likely compensates for the personal insecurity (usually unconscious) of the prospective ‘homeowner(s)’.

The mortgage advertising and marketing industry knows this. Just walk by any bank or stick around for the bank ads during HNIC and think about what the promotional campaign is appealing to. I wouldn’t know but I expect that there are more bank mortgage ads on during the ‘real housewives’ series or ‘dancing with the stars’ than on HNIC.

The comment(s) above that weigh the risk of potential divorce vs caving to financially foolish decision-making are salient and I expect represent a major emotional burden on both members of a couple, regardless of gender.

It will be interesting to read the comments here this weekend. I expect a bit of a firestorm alleging sexism, just as racism has previously been (IMO) mis-projected.

I would venture to guess that couples who feel fundamentally secure in themselves and in each other are less likely to divorce, period, and that a ‘fear of divorce’ based on financial differences of opinion is more of an epiphenomenon of insecurity rather than any injustice imposed on entitled young couples ‘victimized’ by boomers, foreigners, bankers or politicians.

As always, agreeing to live within one’s means (as a couple, ie. coming up with a mutually agreeable definition of exactly what that entails) and holding one another to account, is very important. Our experience has been that to purposefully simplify life (especially when babies / children enter the scene) helps also.

#40 stage1dave on 04.13.12 at 11:44 pm

#29 blase

Great post…I always thought I was upper middle class in the 80’s, ’cause I had TWO VCR’s & taped everything I watched…& a microwave.

Now I got nuthin’ to play those old tapes on…hahaha

Gotta agree with the carpet angle too…hardwood may be easier too clean up, but I’m tired of wearing slippers around the house…in every room. Think hardwood took over ’cause people got tired of vacuming?

My next place is gonna have 70’s era shag the cats can hide in…heheh

#41 Vlad de Mad on 04.13.12 at 11:47 pm

Would you still buy a condo?

Toronto condos the ‘hot spot in Canadian home building’

Being a renter is way better

Home Ownership Thing Of The Past: Experts

#42 Vik on 04.13.12 at 11:53 pm

New home line ups for Sat Apr 14th:

https://www.facebook.com/photo.php?pid=9662680&l=dacbd103e9&id=248427773599

http://twitter.com/#!/daniels1sthome

#43 Smoking Man on 04.14.12 at 12:01 am

My advice to these tax farm slaves is that if emotion rules logic, then take Junius’ advice and get a pet monkey.

Tellin’ it like it is.

Smoking Man

#44 penpal on 04.14.12 at 12:04 am

@ # 30 anon

Why so serious?

#45 Keith in Calgary on 04.14.12 at 12:11 am

Women are to blame. Most men would be happy renting a trailer with Ricky, Bubbles and Julian as neighbours instead of wasting their money on stainless steel and granite.

Since the dawn of time, real estate agents have been taught to separate the man and female and then to grind the hard on the woman. Why, because the man really doesn’t matter.

#46 Burnt Norton on 04.14.12 at 12:16 am

#28 Westernman on 04.13.12 at 10:58 pm

Not often do I agree with the content of your posts but on this occasion, some of it is interesting.

I suggest that, in the kind of circumstances you allude to, many men are hamstrung by the prospect of having their cojones handed to them in family court and then being excluded from seeing / raising their kid(s). Under such circumstances, those men might well be seethingly asking themselves: What is more important here, the relationship or ‘being right’?

At some point, though, many men would do well to find their true spine and to hold steadfast. Robert Bly writes well about this. However, such male energy is most effective when it is honestly emotional in origin and rationally directed.

Misguided ‘my-way-or-the-highway’ machismo or detached ‘ya-whatever’ passive-aggressiveness usually represents underlying anxiety, does not instill confidence or garner respect, and will likely further pollute murky relationship waters.

I can cite useful reference reading on these topics if anyone here is interested.

#47 McDougell on 04.14.12 at 12:19 am

I would still rather buy an overpriced investment property and rent it out than give my money to the disgusting financial services industry, with its non-transparent management fees, underlying fund charges, and complete monopolization by the top 1% . Sigh,,,

#48 Corban on 04.14.12 at 12:31 am

LOL, i love it. Wait till the amazons find out Garth is a misogynist. They probably won’t won’t polish the chrome on the bike anymore :(

#49 John G. Young on 04.14.12 at 12:32 am

#28 Westernman on 04.13.12 at 10:58 pm

“This is where Canadian ” men ” and I use that word loosely in descibing what passes for men in this country…”

Yes, we get that — your moniker shows us just how far you’ve lowered the bar for “man”.

#50 From Mississauga with Love on 04.14.12 at 12:42 am

You know, we keep hearing of fantastic stories like this where the couple combined earns relatively modest income but somehow they all have 100’s and 100’s of thousands of dollars of money, and on top of that paid off the mortgage. Fairy tales of miracles achieved on what is relatively no spectacular income.
120K in the GTA for two with a mortgage gets you by not much more than that. My wife and I are not big spenders, but between rent (or mortgage) and cars and other expenses, somehow we cannot spend less than $4.5-$5K per month, and we’re not exuberant spenders I guarantee you. How can a couple wit 120K income today (I assume their income increased over time and was even less before) save a total of (200+50+10+20 + 250K, assuming big downpayment on house) = 530K over 10 years (OK, RRSP might have increased a little over the years, but average returns are not that great)? That means 53K per annum with the mortgage principal. THat’s $4.5K/month. They have not yet eaten, driven, gone out, bought clothing, maintained the house and paid utilities and property taxes, gone on vacation or done anything else for that matter (like paying interest on mortgage, or took maternity leave for the child or put it in daycare). And they have child expenses on top of that…come on….Bull shit!

Garth, you get a lot of BS fluff from your readers. You’re better off screening things like that rather than posting it and questioning the credibility of this blog.

#51 TRT on 04.14.12 at 12:45 am

Funny you posted that pic Garth.

Didn’t see anyone like that on Venice Beach today. Too cold n windy.

#52 Nostradamus Le Mad Vlad on 04.14.12 at 12:53 am

-
“The trouble with women. If they sold, they’d have close to $850,000 liquid (after costs), which could generate an income of almost $5,000 a month if invested to get 7% – enough to rent a better house, and still grow the portfolio.”

Enuf said, ‘tho the fault (if there is one) is an equal employment opportunity. It takes two to tango.
*
Oil Going higher; US Treasury snubs homeowners; Arctic Ecosystem Which is why Russia and China are protecting Iran; Cdn. Finance links; Links in Russian natural gas up 38%, yet NAmerican price is way down; Iran has plasma physics energy? Links in; Spain borrowing itself into oblivion, and Spain The west doesn’t have a clue;
Famoly Ties Get the wills and legalese sorted out before; Inflation outpaces Earnings; July Volcker rule takes effect; Global recovery outta gas; Consumer sentiment dips as gas lifts off; China’s hard landing, unless they call their IOUs then ditch the Yuan.

Italy and Spain implode; Guessing Game Nokia Lumia vs. iPhone; Yukon Gold Miners still staking claims; One Black Swan killed; Krugman What has been learned about finances? New US warship; Standing up to UK; Scottish Independence It will cost; The Weekender’s Links; Sarkozy Doing more harm than good; Aladdin’s bond cave; Space-Time Continuum and the US Fed’s messing with that as well.
*
2:06 clip Morris the Cat gives free psychiatric advice in French, with Eng. subtitles and music; Fukushima Ten ‘quakes over past 24 hours; Bamboo booming in Belgium; Flyday the 13th Good for some, not so for others; 3:27 clip Odd shapes in Sun’s corona, and Superwinds from Space possibly affecting us; Loud booms heard across England and the US. The Gods must be nuts; disciple – Pour vous; Pink and / or Green Slime; Fluorishing Suicides in the Nevada desert; Monsanto Is it about to sue the entire state of Vermont? Build A Burger Choosing Romney’s #2? Hint: Jeb Bush. Obomba’s gone; 0:37 clip Mt. Etna spews blood-colored lava; US military Consolidating for expansion? Chernobyl revisited.

#53 Wage Slave on 04.14.12 at 12:54 am

211 SE Asian Expat on 04.13.12 at 9:29 pm

I’m choosing to escape the life of a wage slave in a first world country to live a more simple life in a third world country. On this RE blog, I’m weighing options and making financial and ethical comparisons about where and how to live in retirement.

Translation: you’re exploiting people. Foreign ownership helps almost no one in developing countries. Westerners like to delude themselves into thinking that they’re actually “helping” the situation by choosing to spend money there at all; in actuality, it matters who owns the companies and resources you’re choosing to spend money on.

And you can stop telling yourself that you’re living a “simpler” life over there. You’re living the same selfish life, only cheaper.

You want to be ethical? Use local guides and translators and tour companies when visiting a developing country. Rent a home from a citizen of the country you’re in, who also actually lives there full time. Find ways to keep your cash in that country’s borders. Dare to see the poorest, seediest parts of the culture to get a true picture of what citizens are up against. That’s how you help people. Otherwise, you’re just helping yourself.

#54 nonplused on 04.14.12 at 12:57 am

Watch those 7% returns though. I know a guy who bought Yellow Pages for the 12% dividend. I was like, “dude, Google is going to eat their lunch!” Check out the story if you dare:

http://www.theglobeandmail.com/report-on-business/rob-magazine/how-did-yellow-medias-stock-go-from-17-to-17-cents/article2215954/

Don’t know if he got out in time but if not it looks like a complete loss.

Remember, at all times, return of capital is more important than return on capital.

To recap: Never buy anything for the yield unless you know why the yield is being paid and understand how the business is sustainable.

Or you could just buy RIM. I understand the new CEO has a wonderplan.

#55 Van grrl on 04.14.12 at 1:07 am

The title of that pic could just as easily be “The trouble with men”… where I live, most women and a hell of a lot of men would do a double take for a guy with a bod like that- nevermind the woman, pssht.

But that’s Vancouver for ya :)

#56 Van grrl on 04.14.12 at 1:16 am

Anon- Garth is just posting a pic from his pt of view, fair enough. If it were my blog, being a straight female, I’d have posted one with oh, a hot guy bent over that way.

But this:
“It’s the men’s fault because it falls on them to be MEN and not protracted adolescents and take control of the situation and make logical decisions to prevent emotionally out of control women from running the train clear off the tracks”.

What was that all about?? Got issues, Westernman?

#57 a prairie dawg on 04.14.12 at 1:36 am

Fanatical fundamentalist feminists of the world unite!

A fairly freaky Friday the 13th…

#58 AACI Home-Dog on 04.14.12 at 1:44 am

35 Dan…
Question for you Todd
Have you ever done a full gut reno?
Where abouts are you?

A full “gut” to a $600k property for $100k ???
Be ready for “cost over-runs” !!

#59 daystar on 04.14.12 at 1:52 am

When one looks at these numbers do we get just a small hint of OVERDEVELOPMENT?

http://www.bnn.ca/News/2012/4/11/Hot-Ontario-condo-market-lifts-housing-starts.aspx

We had roughly 600,000 dwelling starts in the first quarter of this year. x 4, its 2.4 million annually. We have 33.5 million people in Canada. At this rate, we are building a brand new place (one bedroom condo, two bedroom, 3 bedroom, mcmansion, whatever) for each man, woman or baby in Canada every 14 years.

Does this remind anyone of Spain by chance? Just a little?

#60 Makavelli on 04.14.12 at 1:55 am

A 7% gain on a balanced portfolio is not guaranteed. And to have a portfolio like yours, I would have to pay you 1%. So I get 6%. It’s not that easy.

My balanced, conservative portfolio averaged 7.44% over the last two years, net of fees. Or you could get 2% on your GIC. Tough choice. — Garth

#61 furst on 04.14.12 at 2:00 am

FURST! Well not really but whatevs….

#62 The Thing in the Basement on 04.14.12 at 2:11 am

29 blase – ah yes, the 80s – the good ole’ days! That was a hoot!

#63 daystar on 04.14.12 at 2:30 am

http://www.bnn.ca/News/2012/4/11/Hot-Ontario-condo-market-lifts-housing-starts.aspx

Someone help me out here, is that monthly or seasonal meaning quarterly numbers? If its seasonal or quarterly then I’m off by 300% but even at that, these numbers are smoking high.

#64 Canadian Watchdog on 04.14.12 at 2:31 am

Here’s another [developer paid] article pumping up North York condos.

Street Smarts: Condo news in Toronto’s North York West http://life.nationalpost.com/2012/04/13/street-smarts-condo-news-in-torontos-north-york-west/

Ahh yes, all of which are 70-90% sold to assignment speculators who just flooded the market with listings like this. http://i42.tinypic.com/mwuzac.png Wait until you hear the new price slashes developers are offering. I’m sure recent buyers will appreciate it.

It’s going to be a bloodbath for developers.

#65 The Real Jimbo on 04.14.12 at 2:37 am

“Don’t play stupid, because I know that you are not. This post targets women inappropriately. Misogynistic title, a picture to match. BMO did not say women are to blame, you insinuate it in your discussion of their findings… blah blah blah…”

And that, my friends, is why so many men I know date and marry Asian women.

#66 SGIP on 04.14.12 at 2:49 am

Funny how hundreds or thousands of people show up at protests across canada and the media rarelyvfeelbthe need to report on that

Funny that eh

http://Www.unseatharper.ca
.
.
.

.

#67 Aussie Roy on 04.14.12 at 3:14 am

Aussie Headlines

No Sub-Prime in Australia, we have rock solid banks who were prudent when offering debt, so we are told?.

Big banks forgive Aussie sub-prime debts – LOL

MANY of the nation’s biggest banks — including Westpac and Macquarie — are being forced to forgive debts granted on the basis of false information about lenders supplied by mortgage brokers during the last property boom.

Under the scams, which draw parallels with US sub-prime lending practices, a number of mortgage brokers have been found to have substantially inflated incomes of low-income earners to allow them to borrow far more than they were able to repay

http://www.theaustralian.com.au/business/big-banks-forgive-aussie-sub-prime-debts/story-e6frg8zx-1226326198757

The Illusion of Housing as a “Great Investment”

The title says it all.

http://www.fool.com/investing/general/2012/04/12/the-illusion-of-housing-as-a-great-investment.aspx

What If Housing Is Done for a Generation?

What if housing valuations are in a structural, multi-decade decline?

A strong case can be made that the fundamental supports of the housing market– demographics, employment, creditworthiness and income–will not recover for a generation. It can even be argued that housing has lost its status as the foundation of middle class wealth, not for a generation, but for the long term.

http://www.zerohedge.com/news/guest-post-what-if-housing-done-generation

Did I mention, NO BUBBLE HERE IN AUSTRALIA..

#68 Harlee on 04.14.12 at 3:31 am

#29 blase
Getting nostalgic about the 80s,hmm..? I say give it another 20-25 years then you will really start noticing changes. You’ll know you’re old when you hear yourself really saying: “And when I was a boy..”(or girl). You may not want to say that,but it will come out anyway…A year ago there was an email going around called ‘The Green Thing’ ,about an old lady who goes on about how there was no recycling in her day and then recounts the way her and family lived which consisted of things they did which was actually “a Green innovation” anyway. Only thing was there was no label on it, in “those days”…

#69 ANONYMOUS on 04.14.12 at 3:58 am

HOLLY CRAP! SAY HELLO TO WORLD WAR THREE !:

http://articles.businessinsider.com/2012-04-09/news/31311454_1_russian-defense-ministry-military-action-dmitry-rogozin

This is scary SHIT !
What it means is that Russia is definitely going to be drawn into a war with Iran, so it will be Isreal-USA fighting Iran-Russia.

Its not ‘IF’ this will happen, more like ‘WHEN’, and by all means its going to happen in the next 6 months.

Now this is definitely going to make the oil market spike up, gold go NUTS (upwards) and stocks crash by at least 20%, maybe even more if an all-out shooting war between the USA and Russia starts over this.

#70 Jane24 on 04.14.12 at 4:38 am

Just returned from two weeks in Brampton and Mississauga visiting family. I noted very few houses for sale in either for April. I also noted that only one of these had sold in the entire two weeks I was there.

In comparison my brother lives at Lawrence and Ave in TO and there the market is red hot but then to be fair it always is.

On the plane back i read the international Economist mag from March 31. It stated that Toronto RE is 54% over-priced and in most other currencies represents very poor investment value. I tend to believe the Economist!

#71 Monster Cookie on 04.14.12 at 4:49 am

There will be no hyper-inflation. You should worry more about deflation — Garth

The trend is inflation, why would the trend change?
Nobody is going to be paying down any debts in government, it’s all default by inflation where the trend is not your friend. Even I’m buying gold now!

#72 Bottoms_Up on 04.14.12 at 5:04 am

#20 anon on 04.13.12 at 10:07 pm
——————————————–
I’ve read this blog since inception and I’m of the opinion that Garth has never inappropriately targetted women.

#73 jjpetes on 04.14.12 at 5:18 am

@#30 Anon

Anyone using ^^ emotes automatically qualifies as an idiot.

#74 Monster Cookie on 04.14.12 at 5:23 am

#29 blase on 04.13.12 at 10:59 pm

Pizza delivery was nearly unheard of. I guess that changed with free trade from the states, when all the chains starting popping up everywhere. It’s happening here in Korea, where in the last 5 years, Korea has gone from being a very skinny nation to having an obesity problem among children and young adults. The government has done nothing to stop it.
—–
Good post. It’s not the convenience and availability of food that’s the problem, it’s the actual content of the food. The Korean diet is becoming Westernized, meaning more refined grains and sugar. Too many carbohydrates is the problem.

Check out Gary Taubes, Why We get Fat; and Good Calories Bad Calories.
http://www.garytaubes.com

#75 Monster Cookie on 04.14.12 at 5:36 am

For Westernman and anon, the quote below ties everything together and vindicates Garth. The men are toy dogs doing tricks for women. It’s pathetic.

Einstein on hardworking American men

“It is the women . . . who dominate all of American life. The men are interested in nothing at all; they work, work as I haven’t seen anyone work anywhere else. For the rest, they are toy dogs for their wives, who spend the money in the most excessive fashion and who shroud themselves in a veil of extravagance.”

Albert Einstein

#76 Nomis Ralpmet on 04.14.12 at 6:41 am

“This week BMO popped a new survey showing (according to them) that “leading the pack”” Hmmm, funny that the advertisements for “Tubetop” Sandra’s new show about women buyers are sponsored by BMO…

#77 househornyhousewife on 04.14.12 at 6:58 am

OK Garth,

It’s obviously time for a WOMAN to step in here.

Not all life decisions should be made only by looking at the numbers. If this guy wants to keep his marriage, he will stay put and here is why:

1. We have no idea that his house is actually worth $600,000.00 .. house owners notoriously overestimate the worth of their own homes .. I have just spent the past two years buying my most recent one so I KNOW.
This means that the percentage calculation is probably not quite as accurate as you think.

2. If this couple continues to save money the way that they have and on this kind of income, for them to have paid off their home and have what they have in savings is admirable. If they keep it up, the percentages will change for sure. In addition, if they get smart with their investments, they can also increase their net worth from the growth alone .. so again, there is another 15 years or so for those percentages to change.

3. As Seinfeld says, “Women nest and men hunt”. If his wife is anything like me, renting a house as opposed to owning one is not at all the same thing and selling their home, if she doesn’t want to, would be a BIG honkin’ mistake that will plague him for the rest of their natural lives … and trust me, we women NEVER forget anything !

4. I noticed they had some money invested in a RESP so their kid’s education is taken care of. Plus, not all kids have to have their parents buy them cars and apartments. The kid can and should fend for him or herself. I did. I worked and bought my own clothes throughout highschool, earned my tuition fees and paid for my own books. Since I could not afford to go live elsewhere, I went to the University of Toronto and lived at home in Etobicoke and commuted. My parents paid my room and board by allowing me to live with them and I was grateful for it. Kids who earn their way through school will make better financial decisions as adults so NO, I don’t believe that the kid necessarily HAS TO eat through their savings. And they only have ONE for now so all is not lost (if they had five, things would be different).

5. Renovations of $100,000.00 do not all have to be done at once, nor should they. If they do them slowly, over time, they should be affordable AND if they choose classic decorating styles, they will not go out of style. This is the reason I have always gone for classic elegance instead of the latest mod crap. You don’t want to have to reno every 10 years. Nowadays there are many things you can do yourself to save money (not talking plumbing and electricity here but rather cupboard facings, paint and wallpaper type stuff) AND you can purchase cheaper materials for a very nice look (ie. Quartz vs Granite or Marble). If they are not stupid and don’t go for the latest HGTV garbage but stick to something classic AND they do it over time, they should be OK.

I think this guy is confusing his house and his investments. I disagree with you Garth on one huge thing and that is that your house is an investment that you happen to live in. No way, your house is your hearth, your home, your sanctuary and your kingdom that happens to be worth a lot of money. I do agree with you in that one should pay only what one can afford when it comes to buying this asset (for it is definitely an asset … just that its role is not one of necessarily earning value for resale) so that you have enough left over to dedicate to other important things BUT your principal residence should not be seen as an investment first.

THAT is the difference between men and women. Men would be wise to heed this because if you don’t, you will not have any women in your lives and let’s face it guys, life without women would be a very boring life indeed.

HHHW

#78 John on 04.14.12 at 7:26 am

Real estate dynamics in Toronto and Vancouver are loaded with emotional drivers. Getting out of that asset class and putting the “equity” ( a central banking super charged fiat value) needs to be discussed with the same rigor as aforementioned real estate dynamics.

What will the “investment” scenario look like post-printing? Could it be that servicing “national” debt in hopelessly intertwined “economies” would be just as difficult as servicing the debt a non-liquid asset like a heavily mortgaged “home” that has just dropped 40% and is still falling ( Vancouver future)….

Not everyone who considers the stockmarket a rigged game is concluding that emotionally. That’s like saying people who “aren’t thinking clearly” are all worried about real estate crashing.

Forget the 99%. The logic sounds like the 84%.

#79 Tri-State Pat on 04.14.12 at 7:34 am

Fun stuff. Now other banks are looking at our situation and telling us what we should do. Maybe we should listen…

http://canadabubble.com/bubble-watch/2369-bank-urges-rate-hikes-to-slow-housing-market.html

#80 Gypsy Kid on 04.14.12 at 7:40 am

Todd, keep the house but dont renovate right now(maybe do a nice paint job and de-clutter the house; that usually brightens things up)…you have to live somewhere and you have a child.
Renting is infinitely simpler and makes financial sense at this time, but this is your home. You cant discount that.

You are only in your early 40s. Plenty of time to save for retirement…enjoy your mortgage free home. Travel when you can and save the rest….

#81 Aussie Roy on 04.14.12 at 7:43 am

Aussie Headlines

No sub-prime in Australia, we have prudent banks and our mortgage brokers have excellent ethics. Just ask the RBA (Australias central bank).

STOP PRESS

Kate Thompson was one of Australia’s top 10 mortgage brokers. She wrote more than $100 million in loans in a single year and, by her own account, was more likely to close a deal with a “hug and a kiss” than a handshake.

Now she faces multiple charges of theft and fraud in a Perth court and her broking operation, Mortgage Miracles, has closed.

Thompson was one of the more vivacious vendors of low-doc loans. The actual loans for brokers such as Thompson came from the likes of Perpetual, Westpac, Suncorp, Macquarie, RHG, ANZ and the Commonwealth Bank.

Things may soon get uncomfortable for some in this low-doc star chamber, should recriminations arise between the banks and their brokers. Defiant and desperate to spread the blame, Thompson promised the State Administrative Tribunal in Western Australia last month she would deliver 15 witnesses to show how bankers beat a path to her office and wrote loans for her customers.

”The banks gave Australia these products so anyone with some equity and a pulse could qualify for a loan,” she said.

”As a result, tragically the banks are now the owners of that equity and as far as I am concerned the banks stole it from them.”

It won’t be as simple as that. When it comes to low-doc loans, there are six degrees of separation between the banks and their borrowers.

http://www.smh.com.au/business/a-costly-six-degrees-of-separation-20120413-1wynu.html

Did I mention, no bubble here and certainly no sub-prime loans, that only happened in the US.

#82 Tony on 04.14.12 at 7:50 am

The major cities will probably see property values fall to 1997 valuations here in Canada then they’ll flat line for the next 10 to 25 years. This is called deflation and you’re seeing it right now as almost all commodity prices plunge worldwide. In a deflationary environment you don’t want to own any assets or stocks just bonds, cash or GIC’s.

Untrue. You want to own the equity in profitable companies. — Garth

#83 Aussie Roy on 04.14.12 at 8:07 am

You can always spot a housing bubble by looking the sectors percentage of GDP and employment.

When the housing sector is your second biggest employer, is there any doubt that bursting house bubbles causes rising unemployment.

Here is a snap shot of Melbourne Victoria, Australias home of HAM and falling house prices.

PROPERTY is the largest industry in Victoria, contributing $36.9 billion, or 12.2 per cent, to the gross state product of $301.4 billion, according to a new study.

http://www.smh.com.au/business/property/property-victorias-big-earner-20120410-1wn3k.html

#84 Seven Stars and Orion on 04.14.12 at 8:15 am

#46 Burnt Norton:
I wouldn’t mind seeing your recommended reading list on this topic. I do draw a line in the sand with my wife, and so does she with me. In the interest of moving forward and getting things done, naturally there’s a lot of mutual compromise. I have my limit though, it’s a question of where we choose our battles and how you take your stand.

I don’t plan on entering the market anytime soon, but a question I pose to anyone with experience, regarding urban infill. Let’s say you get a nice deal on a modest fixer upper, would it not be more cost effective long term to tear down and rebuild a modest, well built home, rather than “gut” and renovate? I realize every situation is unique, but I would appreciate anyones input.

#85 Foggy on 04.14.12 at 8:30 am

@33 Blase
Whatever happened to carpet? Is it just me, or did family homes seem a lot warmer and cozier when people had carpet? I can see the appeal of carpet in some homes, but I predict carpet makes a comeback soon. Keeps your toes warm, braces the falls of little ones, might even save on heating bills since wood floors feel cold more than half the year.
———————
When I grew up in the 50s every house had hardwood floors. That’s the way they built em. I went and visited some friends in the mid-60s who had just moved to a new subdivision in Scarborough and they had “wall-to-wall” carpeting. Very warm on comfy on the feet. The kids could lay on the floor and watch TV with their parents. Bedrooms had the same treatment. No slipping on smooth, cold floors or getting a nasty sliver in your bare foot.
Fast forward to the 90s and people are ripping them out and hardwooding whatever they can. And then putting in a few furniture pieces creating the cozy ambience of a museum. Or adding in an area rug which defeats the purpose.
And then there’s stainless….and granite…
Very hip…

#86 John on 04.14.12 at 8:32 am

Reading the blog comments ( lots of value), and come across this from “vangirl”:
—————-
Anon- Garth is just posting a pic from his pt of view, fair enough. If it were my blog, being a straight female, I’d have posted one with oh, a hot guy bent over that way.

But this:
“It’s the men’s fault because it falls on them to be MEN and not protracted adolescents and take control of the situation and make logical decisions to prevent emotionally out of control women from running the train clear off the tracks”.

What was that all about?? Got issues, Westernman?”
——————–

Notice how this women seems like a guy? Which is fine…but she won’t admit the dynamics ( can’t). Thus the Canadian economy. The women really are left out in the cold. Without masculinity, they had to create that pole for themselves.

It’s gone on for so long, and is so deep, that “women”
( the masculinized version”) are actually uppity about it all. And they are the ones losing the most in the de-polarized culture. It’s understandable.

When a banking system runs society, human beings are no longer in community. How could a woman be content in that context? She can’t. The only thing left fo her is bitterness and granite-pot lights.

But the bank is the leader of that household. At least that’s “fair”, right?

#87 GregW, Oakville on 04.14.12 at 8:55 am

Hi Nastra, FYI, Today on CBC Radio 12:10-1pm. This and other stuff sound interesting. You can down load it.
http://www.cbc.ca/quirks/
“The Connectome — The human brain contains about a hundred billion neurons. Each neuron, on average, is connected to seven thousand other neurons. That’s hundreds of trillions of connections. And somehow, all we are – all we know, and feel and remember – is encoded in those trillions of neurons and synapses – the human Connectome…”
And
• Hot Coral
• Bats Fight European Invader
• Renaissance Thrips
• Satellites See Ancient Sites

#88 The real Kip on 04.14.12 at 8:57 am

“A move like that would tie their financial future to the real estate market at a time when it’s obvious big change is coming.”

It is not obvious big change is coming. The Canadian economy created over 80,000 jobs last month with more coming. Western Canada is going to boom even more, Ontario will wobble along with it. Our country is not in or near recession and opportunity doesn’t knock in Canada, it pounds on your forehead!

Enjoy your day.

#89 TomOfMilton on 04.14.12 at 9:06 am

For some time I have been reading this blog and gently explaining the ideas to my wife. We are actually quite happy where we are and the mortgage is paid off. But this Easter weekend I explained we talked about the freedom that the money would offer and knowing that we will one day want to change our house anyway…why not get out at the top and be in a position to buy that other house instantly.
First she fights the idea but now she is able to picture the freedom and she has looked at what is renting where we want to be…well…she is sold, the house is sold (last night) and she is much better than I at making it all happen.
It is often said in generalization that a women does not envision a possibilty or end result as easily as a man. Or maybe it is just different people.
I’m suggesting that those of you out there be you woman or man who are having trouble convincing their spouse…be patient and help them imagine what it will be like. Don’t bully them. They are your partner and making decisions together always works best.
Hope this helps someone else.
We are off to rent a house closer to the kids school.
Oh…and see you soon Garth, to talk about what to do with the money in the mean time.
:)

#90 GregW, Oakville on 04.14.12 at 9:22 am

Hi #53Nastra, re: your link, the Oil(gas) Going higher.

FYI, If shopping for a car remember to check Jim Davidson prices out before ordering your favourite! Was the Best Price I could find.
http://www.carsmart.ca/

(For Good gas mileage I like the looks of this one, personally. I know it’s not a Hummer or Porsche.) http://www.toyota.ca/toyota/en/vehicles/prius-v/overview
http://www.youtube.com/watch?v=6DDHFcjh8Wc

#91 AG Sage on 04.14.12 at 9:28 am

>#32 Lorne on 04.13.12 at 11:07 pm

“Snapped up”? “Hot”? “Marketing push”?

Yeah, this guy’s been absorbed by the borg long ago.

Oh, and money is fully fungible. But I’m sure he knows that.

#92 AG Sage on 04.14.12 at 9:35 am

>#75 Monster Cookie on 04.14.12 at 5:36 am

Those days are long gone… If they ever existed outside the movies anyway.
unemployment graph, men vs women
Especially during a downturn. In the post-modern world, women are far more likely to be the sole earners to support the kids and will take crap jobs in greater numbers than Einstein’s oh so hard working contemporaries.

“of the 15 jobs categories expected to grow fastest in the next decade, 13 are staffed primarily by women.”

#93 penpal on 04.14.12 at 9:39 am

@ # 39 Burnt Norton

Good post.

I have a thesis about all this house obsession.

I postulate that house lust arises, in part, as a subconscious reaction to deep seated insecurity of lack of self esteem.

For instance, why is it that all of my rich friends (net worth over, say $ 10 million) don’t give a crap what kind of car they drive and all my middle class and lower income friends are concerned about their ‘image’ enough to buy or lust after cars that are really beyond their means.

I think housing lust is the same thing. Buy a big house to show that you are a “somebody”.

Pathetic.

Think about it, how can you truly feel like a “bigshot” living in an expensive home with a huge mortgage that is the vast majority of its value, without the means to retire that debt should it be needed (i.e. significant other assets)- it’s laughable!

But hey, what do I know, I am a realist, have the ability to critically reason and am reasonably secure in myself and have my ego in check.

#94 penpal on 04.14.12 at 9:42 am

sorry, my last post should read;

…deep seated insecurity OR lack of self esteem. (not OF lack….

gotta post a little slower I guess

#95 maxx on 04.14.12 at 9:50 am

#13 John G. Young on 04.13.12 at 9:39 pm

“Nice to see popular culture fanning the flames of generational warfare.”

Good (and recurring) point. If boomers were a visible majority (oh wait, they are) most of this anti-boomer rhetoric would be considered hate crime.

Time to nip this highly damaging social engineering in the bud. There is enough elder abuse as it is.

#96 penpal on 04.14.12 at 9:50 am

@ # 77 HHHW

” … Men would be wise to heed this…. and let’s face it guys, life without women would be a very boring life indeed.”

and vice versa lady!

#97 John Jacob Jingleheimer Schmidt on 04.14.12 at 10:01 am

I really think Canadians are completely screwed any way you cut it. I’m not a Canadian. I have never seen a more entitled, self righteous, uncreative, hypocritical, misguided, and lame herd like mentality as I have seen with Canadians. As harsh as that statement is, I mean no offense as I know it is only speaking in a generality and not an absolute. Not everyone is a jerk. But knowing this is how as a whole your country operates I believe is in its ownself enough to say you are completely screwed. Let us put it this way. There is only one kind of person to make a Frenchman run another direction, and that is a Canadian. When you travel abroad Canadians really have a propensity to be condescending and anger the locals.

But we can go further. I am Dutch. I have lived in The Netherlands, Turkey, Ireland, France, and now living in the United States starting back in summer 2009. I will not be leaving the U.S. and will be applying for my citizenship here. I love this country and I love its people and its faults. The U.S. has the worst kind of government in the world, except for all the rest. Nothing is perfect. I reside in Portland, Oregon to be specific. Overall I love it here and I love that everyone has a commonality of uniqueness and spirit of ingenuity. Americans are cool as hell and they are very accepting. They’re typically the first to do anything, good and bad, including the real estate bubble. They are genuine leaders. The real deal as they say. Canadians could learn something from Americans, but you are too self centered and conceited to try. Hence why you now have a real estate bubble on your hands that is without question much greater than the bubble in the United States. All I can say is every Canadian I’ve ever met has tried to in some way undermine Americans or the United States in the course of a general conversation whether it be economics, real estate, politics, or _____. What the hell is that all about? Are Canadians jealous or? It is called needling and it is obnoxiously immature and childish.

When I moved to Portland the property values were already moving down and they have continued down ever since until the last six months. I think they have hit the lowest point they will go now because everything looks like it is holding steady. Canadians have been showing up, mostly from British Columbia, and act very rude. I work with development teams, and we’ve been able to accomplish great things in the course of urban planning. Portland has an area referred to as The Pearl District and it is as close to perfection as any neighborhood could possibly be. Canadians will show up to the sales sights and make very rude comments about how “cheap” things are and refer to things as “big Mexico”. It isn’t often so much what you are saying but it is how you say it. You write your checks for the property here and we all know where that money is coming from. It is coming from home equity lines of credit attached to your homes and your homes’ stupid inflated values. We know this because half of you who buy here end up telling us this. This means your home values will come down or your currency value is going to implode or a combination of both.

There is one thing you are missing though. Values in Canada are coming down now. And values have come down a lot in many areas, but it seems like Canadians are not even aware. Everyone in the development world knows this. As they come down more and more the banks will eventually start “calling” the home equity lines of credit. This means you will owe the bank immediately in full the entire amount of the line of credit. Genius? As I said earlier the U.S. typically does everything first and Americans did exactly the same thing many years ago that Canadians are doing now. You could have learned something but you did not.

I think values in Canada are going to implode everywhere because the country has been vastly overbuilt from city to city. It is not isolated to only a small region. Your home ownership rates are completely unsustainable as is your individual debt to income ratios. Pride comes before the fall.

#98 penpal on 04.14.12 at 10:13 am

@ #65 The Real Jimbo

BINGO!

Feminism has really made these ladies happy, hasn’t it?

NOT!

#99 Form Man on 04.14.12 at 10:14 am

#60 Daystar

seasonally adjusted means at the current rate, adjusted for the peak and trough seasons, Canada would build that many homes in one year…….not one month. Your estimate is too high by a multiplier of 12, not 3.

#100 johnny5z on 04.14.12 at 10:18 am

That picture is on the Strand in Hermosa Beach CA, around 20th Street. You surprised I recognized the homes? Lived in a rental a half a block away for a year. Like living in a fishbowl. Anyhow, that’s a place where homes should be priced high. It’s scenic.

Your net worth rule is interesting and has merit. However, it may be better to base it on the purchase price of the home, not the market value when calculated.

#101 Smoking Man on 04.14.12 at 10:32 am

#43 Smoking Man on 04.14.12 at 12:01 am
My advice to these tax farm slaves is that if emotion rules logic, then take Junius’ advice and get a pet monkey.
Tellin’ it like it is.
Smoking Man
…………………………………………………………………………

Junius so you’re the imposter. LOL

What is with your obsestion with pet monkeys,

Hum let me think>

I got it, Your father was a Dwarf Ginger .

LOL

#102 TimV on 04.14.12 at 10:37 am

Garth, the issue I have with your rule of 90 is that it doesn’t seem to be stable versus time. Is it meant to be? For example, my target number is 60%. The house we’re contemplating could, in a worst-case situation (depending on final reno cost vs budgeted cost) put us at 100% — far above the 60% target.

However, even if I assume 0% stock market investment returns (hopefully pessimistic), by the time I’m 40, target number 50%, our actual number will be right about on track, at around 55%. I can move this up/down a bit depending on whether I assume house values increase over the next ~decade or decrease, but any realistic numbers always come in between 50% and 60% … and that’s still assuming an unrealistic 0% stock market return.

The other guideline you quote, max house price of ~3X gross income seems reasonable (although I’d prefer to state is relative to after-tax income instead). But I don’t know what to do with the rule of 90.

#103 anon on 04.14.12 at 10:47 am

“Don’t play stupid, because I know that you are not. This post targets women inappropriately. Misogynistic title, a picture to match. BMO did not say women are to blame, you insinuate it in your discussion of their findings… blah blah blah…”

And that, my friends, is why so many men I know date and marry Asian women.

^^ (btw, #73 – these are to refer to the above as not being my words, not as an emoticon – are you a boomer by chance?)

Referring to the above. The ability to be anonymous in blogs shows full well that sexism (and in your case, racism too) is alive and well. Someone asked me why so serious. I’m not on most issues. I just think there are power in words. It bothers me that this post is slanted so, and most are too stupid to even ask questions about whether or not Garth is appropriately representing the research. I don’t think he is. He saw a chance at writing an entertaining blog post that would generate discussion and dis it at the expense of taking a cheap shot of 50% of the population.

There have been other times where he had misrepresented research on other topics (even linked to his blog) for this purpose. I don’t fool myself – I know this blog is largely for entertainment purposes. I draw the line though when those misrepresentations perpetuates stereotypes.

How unfortunate that I’m the one who is attacked for questioning this (don’t worry I’m not getting too serious, I actually chuckled at this thought). We have have a long way to go baby.

While modern and erudite as you may be, it’s interesting you didn’t catch the juxtaposition of my headline and picture. It actually means the opposite of what you perceived. Being literal is a bitch, as it were. — Garth

#104 Burnt Norton on 04.14.12 at 10:48 am

#77 househornyhousewife on 04.14.12 at 6:58 am

I agree with most of your post.

It strikes me that the key issue leading one to conclude that the principal residence should not be seen as an investment first, is a fundamental difference in how one defines security.

Why is security so important (for both men and women, only perhaps to different degrees)? As Garth has pointed out, fear is a greater motivating force than greed.

On one hand, the prospect of having clear title on a house in a neighbourhood where family roots grow deep and where rich memories abound surely appeals to one’s deep need to feel secure and to provide security for one’s child(ren).

On the other hand, the prospect of accumulating a large, diversified pool of assets with which to fund life (including unforeseen disasters) can also appeal to the need we have to feel secure and to provide for our dependents.

What we are really talking about here is financial risk management. Even if you want to exclude the principal residence from the investment pool (somewhat arbitrarily and emotionally, I might add) there is no getting around the fact that it “happens to be worth a lot of money” as you write.

Accordingly, and taking into account the macro picture that Garth tirelessly analyses and distills for us here, from a financial risk management (and personal security) perspective it makes more sense at this juncture for many people to rent a home and invest the difference.

Taking this argument one step further, the prospect of selling a paid-off home in order to rent and diversify further seems so foreign to most people that when I suggest it to boomer colleagues here in Vancouver, even though they could probably clear $2-3 million and retire in the process, they start trembling and look at me like I have two heads. Fear trumps greed every time.

The irony here is that those who are willfully blind to the risk inherent in having most of their net worth stored in their principal residence are unwittingly jeopardizing their own security and their family’s security, emotional as well as financial.

#105 anon on 04.14.12 at 10:50 am

I ask for forgiveness from the grammar police in advance. My phone is slow this morning and I didn’t scroll up to review.

#106 penpal on 04.14.12 at 10:54 am

@ # 88 The real Kip

Let me take a wild guess here- you work somewhere in or in some capacity in the RE business in Canada currently? And, you don’t own your own small business, right?

Outside of that business, the only thing that pounds on your forehead in small business in Canada is government regulation, and not in a good way.

#107 penpal on 04.14.12 at 10:59 am

@ # 98 J J J S

BEST POST EVER ON THIS BLOG.

BY ANYBODY.

PERIOD.

You have captured the essence of what I see in Canada today very well.

Not a pretty picture, but very accurate, IMHO.

Thanks for that.

#108 The real Kip on 04.14.12 at 11:13 am

#96 John Jacob Jingleheimer Schmidt on 04.14.12 at 10:01 am

“You write your checks for the property here and we all know where that money is coming from.”

If you hate us that much why do you take the money? Who is the conceited hypocrite?

You can sure blow a lot of sunshine up your ass in one blog post!

#109 anon on 04.14.12 at 11:18 am

While modern and erudite as you may be, it’s interesting you didn’t catch the juxtaposition of my headline and picture. It actually means the opposite of what you perceived. Being literal is a bitch, as it were. — Garth

^^ actually, it can be perceived in two ways. Just because you meant it to mean one thing and not another, doesn’t make it so. Nice cover though. Gold star.

#110 The Thing in the Basement on 04.14.12 at 11:23 am

68 Aussie Roy – thank you for your continued input to the blog.

I clicked on the first link, but got no more info than what
you have pasted. I may have read it wrong but can you
tell us what the wrong info about the lenders was? It
seems there was some fraud on the brokers/borrowers
parts, so why are the lenders forced to forgive the loan?
Does it all just become “jingle mail”?

#111 TurnerNation on 04.14.12 at 11:25 am

Found this: Garth Turner Interviews Bill Casey – on MP TV

FFWd to 1:60 mark for the goods.

http://www.youtube.com/watch?v=J0mDbXB2RaM

#112 Burnt Norton on 04.14.12 at 11:28 am

#85 Seven Stars and Orion on 04.14.12 at 8:15 am

Here are a few books:

The Shadow Side of Intimate Relationships, What’s Going on Behind the Scenes – Doug & Naomi Moseley

Iron John – Robert Bly

The way of the superior man – David Deida

#113 anon on 04.14.12 at 11:29 am

Onto the real topic at hand. I definitely see the benefit in this couple selling and renting. I strongly believe this market is going to go down so might as well take these gains and run.

However, I also understand why people stay. We got out of the market and rent. Let me tell you, it’s the shits. Crappy absentee landlord, and a rent that os ridiculoualy high. Where we are, SFHs for rent are not plentiful and if you get evicted post-lease expiry (which is a real risk in this market) you may have a tough time finding another one any time soon. If I were single, with no kids or dogs renting would be a breeze as there is no shortage of great places 1200 sq feet or less.

It’s my opinion that some choose to stay an not follow Garth’s advice because they are choosing to pay a premium for stability. High as it might be in this market, it’s a personal choice.

#114 Poorgoisie on 04.14.12 at 11:37 am

Jingleheim, Do you think Alan Thicke is not creative? Check your facts buddy. Also wooden shoes are OVER!

#115 The real Kip on 04.14.12 at 11:44 am

#107 penpal on 04.14.12 at 10:54 am
@ # 88 The real Kip

“Let me take a wild guess here- you work somewhere in or in some capacity in the RE business in Canada currently? And, you don’t own your own small business, right?”

I work blue collar in the high rise forming industry in GTA. We are booked solid right through 2012 and there are lots of regulations.

I’m sorry your small business is struggling. What are you in, horse and buggy whips?

#116 Painted Toenails on 04.14.12 at 11:48 am

Had dinner and a few drinks with some friends last night. I’m used to being the lone real estate doomer. Last night I was one of many. The winds have changed.

Many, many businesses are down here on the Island.

A year and a half ago my former neighbour told me I shouldn’t sell my house, that I wouldn’t be able to buy it back for ‘less than 150 more than I sold it for’. They put their on the market last summer. This will be the 3rd go-round since. Nice place too.

Notice they’ve DROPPED their asking price almost 100.

Revenge is sweet. Think I’ll wait till they drop 150 to head out to the deck with a glass of wine and gloat.

#117 The Thing in the Basement on 04.14.12 at 12:03 pm

98 JJJS – have you ever lived/worked in Canada? If not
you are reaching conclusions with very small samples of
the population and narrow focus.

#118 Republic_of_Western_Canada on 04.14.12 at 12:08 pm

#15 Walter Safety

With the stock market you can go from despair to elation in minutes .

Only if you’re picking the wrong end of the spectrum. -If the only thing you know is going long in stocks (especially with no technical or fundamental analysis), or if you think you can master the universe by becoming a second-by-second retail futures participant, not only will you wring yourself out emotionally, you’ll very probably lose over time.

Nowadays you’re playing against high frequency trading computers based on algorithms and intervention by geniuses who generally have no other place to work in what is left of gutted North American industry. Not to mention they can sniff potential trades and trends in the market before most humans could see them. You absolutely have to construct inherently defensive positions which limit risk (at the cost of some gains), as well as stack as many considerations in your favour as possible.

“…maybe you’re doing it wrong, Roach!…”

#119 daystar on 04.14.12 at 12:08 pm

#100 Form Man on 04.14.12 at 10:14 am

Yeah, just looked at the definitions and thanks for the heads up. Good thing I was wrong, thought Canadians were were truly insane for 5 minutes or so there (still do sometimes, but for different reasons, lol).

#98 John Jacob Jingleheimer Schmidt on 04.14.12 at 10:01 am

What you see in Canada is the product of a wealth effect created by a RE/credit bubble which changes people’s view of reality socially and almost always with negative consequences. Vancouver is obviously the one city most effected by wealth socially due to RE values and you are exactly right, it does have to do with home equity.

Give Canada 5 to 7 years as our wealth effect goes from boom to bust and check out the social changes as the view of reality our homeowners change. This pattern repeats itself socially world wide in general as RE/credit bubbles boom and bust creating wealth effects which morph into poverty effects. We’ll either be marching in the streets due to austerity protests (still holding onto that sense of entitlement) or we’ll be humbled, just learning to make eye to eye contact again, just beginning to keep our tails from dragging between our legs and having a far more realistic view of where we fit in the world (one can hope).

#120 Jimmy on 04.14.12 at 12:12 pm

What this guy says in the article is what I try to explain to my realtor friends all the time.

http://www.theglobeandmail.com/life/home-and-garden/real-estate/buying-and-selling/when-rent-money-isnt-dead-money/article2399782/

He says there are lots of barometers people can look at to determine whether real estate in Toronto is expensive or cheap right now, but in his opinion house prices and income levels should have some correlation over long periods of time.

Quote:

“Generally speaking, I think that the average family should be able to afford the average home,” he says. “It’s a simple litmus test and one that I think most people would agree with.”

He’s not sure that Toronto house prices pass the test right now with a ratio of something like seven to one. Low interest rates are driving the “affordability” of real estate, he adds.

#121 jess on 04.14.12 at 12:20 pm

i thought westernman would enjoy this?

http://en.wikipedia.org/wiki/MCI_Inc.#Accounting_scandals

…appropriate legal enforcement and prosecution did not occur until the accounting fraud and other crimes were detected. Thus, while it is more an example of undetected accounting fraud than unequal justice, the results are illustrative. In a society with unequal justice, the appropriate laws are never enforced, so entities acting outside the law continue to grow more profitable and powerful (as compared to everyone operating according to the rules). Moreover, the profits from illegal activities can be used to subsidize competition across the spectrum of business activities of companies acting outside the law — which further enforces the competitive advantage, and possible hegemony, of entities operating on a different playing field…

For Capitalism to Survive, Crime Must Not Pay
Apr 12, 2012Bruce Judson

Rediscovering Government
http://www.rooseveltinstitute.org/rediscovering-government-0

#122 anon on 04.14.12 at 12:21 pm

@ # 77 HHHW

” … Men would be wise to heed this…. and let’s face it guys, life without women would be a very boring life indeed.”

I guess for you life is a zero-sum game, and everyone should know by now how destructive zero-sum thinking is. Unless you cowtow everything and everything to your little princess you will have nobody even saying hello to you in the morning!

Fortunately I’m a feminist and I don’t need to marry a woman to enjoy her boredom releaving properties.

Just sayin’ ;)

#123 Jimmy on 04.14.12 at 12:22 pm

Fantastic article today in the Globe…

http://www.theglobeandmail.com/life/home-and-garden/real-estate/buying-and-selling/what-will-make-the-housing-boom-go-bust-greed/article2402051/page1/

#124 Dan in Victoria on 04.14.12 at 12:25 pm

Seven Stars and Orion @85
If you can find a fixer upper at a reasonable price it “could” be worth it.
Having done that myself and having built many new homes, its a hard call.
Keep in mind EVERY area is diffrent for what something will be worth afterwards eg. knock it down, build new, or renovate.
Homework involved. How much you pay for your education is up to you.
If you can’t do most of the work yourself, and be able to do proper cost calculations in your head, renovating is probably not the way to go.
Keep in mind a lot of contractors will give you a “price”
or do it “by the hour”
Be careful very careful.
I could fill this blog with stories of people who get in way over their heads doing “renos”

#125 tran, Calgary on 04.14.12 at 12:37 pm

Iceland Forgives Mortgage Debt for the Population. Putting Bankers and Politicians on “Bench of Accused”

http://sherriequestioningall.blogspot.ca/2012/04/iceland-forgives-mortgage-debt-for.html

Probably the same will happen in Canada.

#126 John G. Young on 04.14.12 at 12:51 pm

#96 maxx on 04.14.12 at 9:50 am

Thank you, although I see that today’s posts are focusing on gender warfare.

So the trouble with women is… men (spoiler alert: not ALL women, and not ALL men). Garth finally had to explain the theme of this entry explicitly in post #104, just like that character in “The Cabin in the Woods” had to.

Like real estate purchases, it appears that life today –at least blog comments and popular culture — is driven more by instant emotion than thoughtful reflection; and that, in the end, may be the cause of our undoing.

#127 Smoking Man on 04.14.12 at 12:52 pm

The Herd

Watching the herd at union station yesterday, 3 or 4 hundred people squeezing through one entrance in a huge line to make it onto Track 6 was such a pathetic sight.
Had they gone to Track 5 no line, first on the train first choice of seat. Ah But the TV said Track 6

It’s not the first time they have taken the train, just once up Track 6 should be enough to make you say, next time I’m going to Track 5. But No.

Nope the herd stood their ground in the hall waiting for the little green man somewhere to make his track selection on the TV.

Up it flashed at 12:33 West Bound Lakeshore TRACK 6. Then they all scurry along.

It boggles my mind how people walk trough life clueless to Danger and Oblivious to opportunities.

Today on 640am radio they had a real estate show, the experts where dumb, stupid and transparent, pumping condos in Toronto. Everyone who called was drinking the cool aid. Not one dissenting contrarian caller.

I am starting to think Dumbness is in fashion, get with the program .

My Conclusion

Toronto Real Estate = 1 DING

#128 daystar on 04.14.12 at 12:54 pm

#106 anon on 04.14.12 at 10:50 am

I know the feeling.

#39 Burnt Norton on 04.13.12 at 11:35 pm

Excellent observations.

#105 Burnt Norton on 04.14.12 at 10:48 am

You’re all over this today (not at all uncommon now that I think about it). Its interesting too, your obvservations concerning Garth’s inputs on the macro reminded me of my thoughts lately on how Garth connects macro and micro economics socially which I think is also very well done.

Enjoyed your comments this morning.

Have a good day, all :)

#129 Blue Monster Lover of Meats and Vegetables on 04.14.12 at 12:56 pm

#54 Wage Slave on 04.14.12 at 12:54 am

211 SE Asian Expat on 04.13.12 at 9:29 pm

I’m choosing to escape the life of a wage slave in a first world country to live a more simple life in a third world country. On this RE blog, I’m weighing options and making financial and ethical comparisons about where and how to live in retirement.

Translation: you’re exploiting people. Foreign ownership helps almost no one in developing countries. Westerners like to delude themselves into thinking that they’re actually “helping” the situation by choosing to spend money there at all; in actuality, it matters who owns the companies and resources you’re choosing to spend money on.
————
Easy there wage slave, who are you to judge someone else s decisions in life on where and how to live? You sure seem to know a lot about SE Asian Expat that sounds eerily like common non-sense.

Speaking for beautiful Asia, I think I’ve decided on where I’m going to open my first foreign office and eventually locate all my manufacturing out this dumb Canada, I”m going to Malaysia/Singapore and eventually will likely cut all ties with my wonderful slave incubator country of my birth.

I can’t grow my business in Canada because the costs of living are too high here and all the taxes and deductions on wages of employees is simply reprehensible. So it’s no wonder there are no manufacturing jobs left in Kanuckistan, taxing people for WORKING is a problem! If tax revenues are needed for a small government then tax consumption, not production and investment by individuals and business.

Anyways, hello Malaysia, here I come, Adios Canada.

I’ll be flying to Singapore this summer for sure, making trails. I say, happy life, happy wife (or girlfriends).

#130 John G. Young on 04.14.12 at 12:58 pm

#66 The Real Jimbo on 04.14.12 at 2:37 am
#99 penpal on 04.14.12 at 10:13 am

Wow, sexist AND racist in the same sentence — that’s some sort of accomplishment.

You deserve a prize — maybe a passive, submissive Asian woman like the one in Takashi Miike’s “Audition”. That’ll teach you.

#131 Blue Monster Lover of Meats and Vegetables on 04.14.12 at 1:06 pm

Anyone who thinks it’s wrong to abandon Canada by doing what is best for me should reconsider and look at it this way. By staying in Canada and supporting an unsustainable system I would only be prolonging the inevitable and in the process destroy myself.. so I say its better to starve the beast by leaving and passing on the lower costs and increased productivity of my business over the next few decades to the rest of the free world and let Canada learn the hard way.

Canada needs to go bust sooner than later to restructure our socialist government roots created when we supported the British and not the Americans during their war for independence.

The rest of the world is currently dying from cancer of government debt while we’re smoking three packs and day and feeling great, no way, we’re right behind them and the Americans too, dominoes are starting to fall in Europe and North America and their worthless fiat currencies will fall with them.

Let all the Chinese in, who cares, and give them free everything because free is usually crap anyway.

I don’t want your handouts Canada, they’re too expensive. Keep your free shit, I’m going to pay for my health care as I need it.

#132 John G. Young on 04.14.12 at 1:10 pm

#73 Bottoms_Up on 04.14.12 at 5:04 am

“I’ve read this blog since inception and I’m of the opinion that Garth has never inappropriately targetted women.”

Exactly — I think anyone who has read this blog for even a short time would see that Garth clearly has great respect for women (if he didn’t I wouldn’t be here).
It seems that a lot of people post comments based on a single entry, with no comprehension of history or context. I think it’s a product of the fragmentation of our society, driven in large part by the Internet, cell phones, texting, etc. — another cause of our undoing.

#133 Smoking Man on 04.14.12 at 1:13 pm

#119 Blue Monster Lover of Meats and Vegetables on

Smart, Did that back in the early 90’s I’m a little quicker than most.

When in Malaysia if in Kuala Lumpur, you can take a bus to the Gentling Highlands. Not sure if It’s the right spelling.

They have a Casio on top of a mountain. Spectacular, playing poker above the clouds.

To do business in Singapore, you need to get comfortable with going out to Karaoke Clubs (Brothels) expensive as hell , If you don’t play, you won’t get far in Business in asia.

#134 Not 1st on 04.14.12 at 1:17 pm

Imagine a transplanted dutch guy giving out financial advice. Buddy, you have lived in two of the most broke nations on earth but you aren’t savy enough to know that cause you just see whats in front of you. The great Euronation will collapse under the weight of its debt laden social experiment including the Dutch. And the U.S will be the leader alright, leading the next great decline of empire. You have yet to ride that one out friend.

We have a bubble, thats fine. We have had them before. They will be worked out of the system and we will be on our way again. What we don’t have is 200 trillion dollars in debt and unfunded liabilities so we will sail on after. I am waiting for the great U.S leadership to assert itself on that one.

#135 daystar on 04.14.12 at 1:27 pm

#109 daystar on 04.14.12 at 12:08 pm

Hmmm… just read something I said that I don’t entirely agree with from myself (oh, the humanity). Wealth effects should by rights effect people positively but people aren’t often as prepared for financial success as they might at first think they are and it has to how it directly effects their ego/pride and how they view themselves in comparison to the rest of the world. Sure, we drive better cars and skip less meals and so forth but some of us, maybe the majority of homeowners that prosper from RE wealth effects get materialized by it (if we weren’t already).

I’ve talked about loss before and how some of us don’t handle loss well but its not just loss, its gains and it all goes back to beliefs that are often formed by earlier environments.

Too many of us don’t look ahead to see how the changing environments of material success or failure play on our emotions of greed and fear (desires/insecurities) or whats really behind those buttons that are being pushed (belief systems and their origins). It should go without saying, but we should be seriously questioning the inputs of our lives past/present AND future to see the causal effects thereof and too many of us don’t and as such, we just end up becoming very reactionary, letting our primal nature rule us until unfiltered reality (usually accompanied by loss/pain) forces us back to reason (so one can hope).

#136 Regan on 04.14.12 at 1:40 pm

I’m in a similar position to the OP – mortgage finally paid, house worth far more than I’ve put into it. I’ve considered diversifying, but the kids wouldn’t appreciate moving and school changes etc. and I’m in downtown Toronto so I don’t think a huge RE correction will hit my neighbourhood. I have forgone investing to pay off my mortgage – hard to be the guaranteed savings on that interest rate. And now I have no mortgage to pay – that gives me financial freedom every month. Low-cost living (less than renting) is great risk management against unemployment, illness etc.. Every penny that went into that will go into RRSPs, TSFAs and investing in my business. My net worth will be balanced within a few more years. I would do it differently if I was going to do it again, but you’ve got to figure out the best path from where you’re standing and go from there. If your RE is a done deal, you have to consider what it means to sell. I’d double check the cost of that reno though – it’s a lot to keep investing into a single asset. Maybe you can’t truly afford this home – whatever you’ve paid for it.

#137 Casey M. on 04.14.12 at 1:43 pm

Hey, Garth!

Ask Todd to call me:

http://www.flickr.com/photos/15845742@N03/6923300234/

C.

#138 jess on 04.14.12 at 1:54 pm

In our phone bills we pay a fee for touch tone tech upgrade .

In the usa the provider of last resort laws have been repealed in many states –

No upgrade therefore no service.

March 28, 2012

“The guarantee of landline telephone service at almost any address, a legal right many Americans may not even know they have, is quietly being legislated away in our U.S. state capitals.”

Link:
Phone Service for All, No Matter What Kind

#139 The Thing in the Basement on 04.14.12 at 1:58 pm

126 Tran – directly from the link

“It seems this may not be true, due to people from Iceland saying it is not true. El Mundo news is the originator of the information from the video above. Since they are a news organization and they broadcasted this, I had assumed it to be true. Also since the Icelandic people have been standing up against the tyranny of the banks and corrupt politicians for the last 3 years, it was not beyond me to think it was not true. I have looked on Iceland news sites and have not found mention of it. I did not put this out for “fake news” I had believed the broadcast. So, if it is wrong I am sorry for putting out misinformation, as that is not what I do. I will always try and put out only real truth and real news. ”

Looks to be all BS. Some whacko comments too.

#140 Blue Monster Lover of Meats and Vegetables on 04.14.12 at 2:00 pm

#98 John Jacob Jingleheimer Schmidt on 04.14.12 at 10:01 am

Nice post and handle there Johnny boy! I totally agree. I sell product all over the world and bar none my favorite people to deal with are Americans. And I now notice and am amazed at how many of my friends constantly say derogatory comments about Americans, they think Americans are all fat and stupid, I say look int he mirror. My friends love me.

But Americans in business are exactly what you say and they’re no non-sense, they don’t hassle me on price because the price is good and they pay promptly. I fint the middle eastern and Asian areas most shady to deal with, but I think it’s their barter culture. Americans just pay because if they need it, they buy it.

#141 Sky on 04.14.12 at 2:04 pm

John Jacob Jingleheimer Schmidt # 98

Canadians aren’t generally the sharpest tools in the box. I’ll give you that. It’s the cold. Our blood flow is as sluggish as chilled maple syrup. The blood eventually does reach our brains but not always before the damage is done.

On the other hand, you called Americans creative and ingenious. USA is a much warmer country. Could speedier blood flow account for this ?

Prime example of USA creativity right here : Iraq had WMDs… so bombs away!! Very creative. Unless you happened to be an Iraqi.

Ingenious? Sure. You can’t get much more ingenious than a for-profit corporate prison system that turns non-violent ( mostly black) offenders into slaves of the state. Don’t forget the bonus points for destroying all future job opportunities once the inmate is finally released. And MORE bonus points for ruining the lives of the inmate’s family.

Well, no govt’s perfect. So let’s take a gander at the wonderful American people themselves. Do you think they lose a moment’s sleep over the countries crushed by the likes of the IMF or World Bank? Do they even know or care about this? Didn’t think so.

You’re relatively new to the country so I better warn you about the so-called Christians who vote for one war monger after the other. Of course the non-Christians ALSO vote for war mongers so you won’t have much choice once you get your citizenship voting rights.

But don’t let the limited choice get you down because the slaughters don’t trouble EITHER side very much.Endless wars are totally justified in the righteous minds of the Americans by either patriotism or a catchy little doctrine known as Manifest Destiny. You’ll soon fit right in. Christian or not.

Despite the wars Americans ARE pro-life. They wear pro-life like a halo. There’s no escape from this holier-than-thou pro-life ranting. I better explain.

Pro-life is a status granted ONLY to the fetus. Once you’re out of the womb and actually sucking oxygen you’re pretty much on your own.

You become property of the state in many cases. Perhaps ghettoized for life, or thrown into prison or butchered in some foreign war designed to profit the ‘ defense’ industry. Or maybe you’re one of the almost 50 million on food stamps.

Have a nice life in America. May you always feel secure… as every e-mail, phone call, text and tweet is surveilled and recorded. For your own protection of course.

MAY you always feel secure? No. America’s God insists on it!

Wecome to the Homeland.

#142 Westernman on 04.14.12 at 2:21 pm

Van grrl @ # 57,
You couldn’t figure out what I was saying??? I don’t have any ” issues ” as you new age nincompoops like to say but I do think you have reading comprehension ” issues ” if you can’t figure out what I was saying…
Thank’s for being illustrative of what I was saying in my post and proving my point so clearly…

#143 Form Man on 04.14.12 at 2:22 pm

#120 daystar

you are welcome. I was incorrect in my wording, i should have said housing starts per year, rather than houses built per year. A minor issue, but not every house started is necessarily completed, and obviously many are not completed in the same calendar year…….

#116 the real Kip

I work in the same industry as you. Enjoy it while it lasts……..

#125 Dan

good post. I also have spent many years building and renovating homes and commercial buildings. It is a very rare renovation whose cost can be re-captured on selling. The best way to make money with houses is to buy low and sell high while doing the absolute minimum work to the house. Renovations should only be undertaken with the purpose of increasing the comfort or lifestyle of the homeowner, rather than with the expectation of profit.

#144 Westernman on 04.14.12 at 2:26 pm

John G. Young @ # 50,
I didn’t expect you to understand my post … you know, you being confused about what you are and all…

#145 Lostinthewilderness on 04.14.12 at 2:46 pm

Just back the wonderful state of California. This morsal in the San Diego UT

America has too many big houses — 40 million, to be exact — because consumers are shifting preferences to condos, apartments and small homes, experts told the New Partners for Smart Growth Thursday, holding its 11th annual conference in San Diego through Sunday…………

Link:

http://www.utsandiego.com/news/2012/feb/02/us-overbuilt-big-houses-planners-find/

Old news in the US. However Canada at approximately 1/10th of the US population, logic may indicate Canada could have 4 milion overpriced , oversized homes that soon, no one will want at any price.

#146 Bill Gable on 04.14.12 at 2:56 pm

#32 Lorne

I got a smarmy letter from Julie somebody at Global and she did the PR two step.

I was going to forward the letter (like you bravely did) but Bob Rennie and Cam Good have lawyers, and they BOTH read this blog.

I will be sending Garth my reply letter privately – he has more firepower than I have.

The CRTC must be getting touchy – because they fired letters to the boys at Global twice.

Their complicity in this total distortion of Dumbcouver is beyond the pale.

You have guts my friend, and it is comforting that I am not alone in my outrage.

They don’t care. They get paid. The great unwashed, be damned.

#147 John G. Young on 04.14.12 at 2:57 pm

#145 Westernman on 04.14.12 at 2:26 pm

“I didn’t expect you to understand my post … you know, you being confused about what you are and all…”

Classic projection. You’re the one who’s confused — sorry I didn’t dumb down the language of my post sufficiently for you to understand it.

Let’s try it again: I find it amusing that someone who takes such obvious pleasure in insulting females –Beach Girl, Daisy Mae, Van grrl, etc. — still refers to himself as a man.

Time to go consult with your cows and head back here with a “witty” retort…

I’ll be waiting.

#148 John G. Young on 04.14.12 at 3:09 pm

#142 Sky on 04.14.12 at 2:04 pm

Are you an American?

If not, I think you just proved JJJS’s point.

I said it before and I stand by my words — penis envy on a national scale.

#149 truth hammer on 04.14.12 at 3:16 pm

G-Man I think you’ve pinpointed the epicenter of the ‘Canadian Problem’ with today’s missive. A majority of home moaners in Canada who bought ten or twenty years ago have seen their ‘asset’ grow to balloon proportions and have misled themselves into thinking that they are ‘rich’. This is why personal debt has eclipsed mortgage debt…..because theu can’t get their greedy little dreams on the money unless they borrow against the temporarily inflated asset. The banks, BOC, Finance Minister and all assorted like minded pimps have hoorahhed this debt explosion. I can’t see any upside to this….not when fixed cost inflation in fee’s, food, transpo and all indirect costs skyrocketing past every analysts expectations in wage / job gains.

Hiring more government workers is not going to fix the problem for the taxpayer….we are already paying over 80% in direct and indirect taxation.

Isn’t this personal debt explosion exactly what caused the foreclosure tsunami in the US…often touted as a real estate collapse…but in reality it was personal debt explosion….grannies from Detroit taking out monster seconds against free held property to take the little gangsters to Europe……and then realizing….after the fact….that the transient nature of ‘value’ left them without the ability to pay back the loans. It was borrowing against temporary values that imploded the market….not the screaming rise in ‘values’.

Isn’t this exactly what is taking place in Canada? The real estate bubble is secondary to the much larger issue of debt……watch your asset go up and down as all asset classes do over time…so what….borrow against your assets and watch as they fall….and have to pay for your mistake……..two very diffferent scenario’s.

#150 Form Man on 04.14.12 at 3:17 pm

#145 westernweaned much too soon

The only confused person here is you. You seem to be attempting to reconcile your strange perversions and rage with bigotry……..

#151 dad on 04.14.12 at 3:18 pm

#110 anon

^^ actually, it can be perceived in two ways. Just because you meant it to mean one thing and not another, doesn’t make it so. Nice cover though. Gold star.

Remember when I warned you about the snark? Good times.

#152 Jsan on 04.14.12 at 3:24 pm

“#126 tran, Calgary on 04.14.12 at 12:37 pm

Iceland Forgives Mortgage Debt for the Population. Putting Bankers and Politicians on “Bench of Accused”

http://sherriequestioningall.blogspot.ca/2012/04/iceland-forgives-mortgage-debt-for.html

Probably the same will happen in Canada.
====================================

When you live in a country like Iceland that recently collapsed economically, you have nothing to lose. It would be telling your creditors to screw off and starting from scratch. The problem with this is good luck getting even a penny of credit in the future from any foreign lender.

It sounds like this is a hoax but if this were true, I would suggest that this could cause a panic in the lending markets and send rates skyrocketing as who in their right mind would lend if there was the concern that others might walk away from their debts.

As far as mortgage forgiveness in Canada, it would never happen. That is a move done in desperation by a country with nothing to lose. Just like someone declaring bankruptcy. It wipes away their debt and leaves them penniless and with a destroyed credit rating.

#153 Ozy - Abolish BOC ! on 04.14.12 at 3:24 pm

The Bank of Canada, whose mandate was supposedly to keep domestic inflation under control, has cultured the largest bank mortgage ponzi scheme ever to be unloaded on our children, that of record unaffordable housing prices, and the BOC continues to allow housing prices to increase beyond the reach of the average Canadian, further eroding the spending recovery of the Canadian consumer due to inflated mortgage interest, effectively killing this country’s global competitiveness.

#154 Ozy - Abolish Mortgages ! on 04.14.12 at 3:26 pm

For some unfathomable reason we, as Canadians, have been brain-washed by the Canadian Real Estate Association (CREA), the Canadian Bankers Association (CBA), and other self-interested parties into believing over-priced housing is a good thing when, in fact, it has become the largest domestic job-exporting pyramid scheme ever to be unleashed upon Canadian society.

http://www.thecomingdepression.net/main-street/real-estate/canadas-home-sales-top-predictions-why-a-real-estate-crash-inevitable/#axzz1s2oN4bGs

#155 Tamsen on 04.14.12 at 3:29 pm

Can someone please explain why the government has not put a stop to foreign ownership in Canada yet? Australia and other countries have. It would be great to hear blogdog Carney’s view on this. Canadian taxpayers should be outraged after reading today’s Financial Post article by Diane Francis …

http://opinion.financialpost.com/2012/04/13/to-tame-torontos-housing-bubble-ban-foreign-buying/

#156 Angry Reverend on 04.14.12 at 3:35 pm

I would love to see the face of his woman when he showes this article to her.
The couple is quite lucky because to own a complete house in early fourties is great. And with a 10-year old kid almost incredible.

The recommendations given by Mr. Turner are clever and easy to explain (even to a woman). I hope that she would accept the given arguments. On the other hand, it can be difficult to convince a woman to sell a house they just barely paid. But the logic given by Mr. Turner is quite solid. The college, the retirenment, and all other payments they will have to do. They are not in the position to risk by investing more money into the property.

The real estate market is very hot. You can observe it on the blogs every day. Even the realtors are saying it publicly (Why Canada Shouldn’t be Afraid of Subprime Crisis). If you can hear it from insiders, what does it mean?

#157 John G. Young on 04.14.12 at 3:59 pm

#151 Form Man on 04.14.12 at 3:17 pm

Thanks for your support.

Perhaps a different approach would make Westernnotaman go away permanently. I would like to suggest shunning, although that would require collaboration from all of his targets.
It does seem to work with the trolls on other blogs.

#158 Westernman on 04.14.12 at 4:06 pm

John G. Young @ # 148,
I’ll explain this as simply as possible so you can understand it – females do not get a pass when they make stupid remarks just because they are female, period.
I’m an equal opportunity insulter…

#159 John G. Young on 04.14.12 at 4:19 pm

#157 Angry Reverend on 04.14.12 at 3:35 pm

“The recommendations given by Mr. Turner are clever and easy to explain (even to a woman)…”

Well, duh… if a reverend can understand it, I’m sure a woman can.

#160 Westernman on 04.14.12 at 4:22 pm

John G. Young @ # 158,
Westernotaman, huh? Thats pretty ironic coming from someone with your proclivities, wouldn’t you say?

#161 Form Man on 04.14.12 at 4:31 pm

#158 John

I am happy to support rational and intelligent people. westernman is a caricature; a poster boy for angry, misogynistic, redneck, un-educated, small-minded, racist bigots. Exactly the kind of people Canada would be far better off without.

#162 jess on 04.14.12 at 4:31 pm

smoking man
silver and gold and greenbacks too
… scarecrow’s straw cerebrum wasn’t replaced by an ozerian prophet.
Perhaps technology is rewiring human brains into visual spatial batman tessellations.

http://www.independent.org/publications/tir/article.asp?issueID=40&articleID=504
========================
126 tran, Calgary on
your posting fake news
=============================

#163 John G. Young on 04.14.12 at 4:35 pm

#159 Westernman on 04.14.12 at 4:06 pm

“…females do not get a pass when they make stupid remarks…”

There was nothing “stupid” about their comments. –they just didn’t share your opinions, God forbid.

Three questions for you:

1) Do you read lots of people on this blog thanking you for your posts?

2) Remember what I wrote earlier about you being part of a group that’s going extinct?

3) Do you see a connection between 1) and 2)?

Please get back to me with your answers. Even though they’re all yes or no answers, I know these will be tough questions for you, so take your time.

#164 Westernman on 04.14.12 at 4:39 pm

Form Man @ # 162,
Maybe you and John G. should get a room and discuss this further… wink,wink…nudge,nudge…

OK, that’s enough. — Garth

#165 Duckworth on 04.14.12 at 4:43 pm

Some hilarious posts today.

I can honestly say that Im a half decent husband a great father. When my wife argues and nags at me i just remind her:” Hey I might be an asshole like you say, but Ill aways find someone to be with and put up wih me…who the hell is going to put up with a misery like you (and most of the forever-single cuz Im too good for you types) . She never has a retort for that i wonder why!!!

ps. and we make all financial decisions together 50/50

#166 John G. Young on 04.14.12 at 4:48 pm

#162 Form Man on 04.14.12 at 4:31 pm

“…exactly the kind of people Canada would be far better off without…”

And also this blog.

So I say: let’s put direct democracy to work, and shun him.

#167 Canadian Watchdog on 04.14.12 at 4:55 pm

#156 Tamsen

“Can someone please explain why the government has not put a stop to foreign ownership in Canada yet? ”

It’s because our safe and sound banks run the foreign investor program. http://www.cic.gc.ca/english/immigrate/business/investors/facilitators.asp

#168 Westernman on 04.14.12 at 5:00 pm

John G. Young @ # 164,
We’re not in high school anymore Jhonny, I’m not running for class president so kissing butt and currying favour from the ignorant masses aren’t a priority for me… it’s all part of growing up John…

#169 Observer on 04.14.12 at 5:12 pm

Hey, young married Toronto….are you angry yet?

#170 Observer on 04.14.12 at 5:16 pm

Diane Francis should get the Garth award of the week. I had to blink twice to make sure I wasn’t at greaterfool.ca

#171 Form Man on 04.14.12 at 5:35 pm

#165 westernboy

immature pre-schooler taunts indicate your emotional insecurity. Garth is right, time to focus on intelligent discussion of Canada’s housing mess.

#172 Ol' limey smella. on 04.14.12 at 5:44 pm

Vacant meat-head spends a lot of time in the gym looking at his own muscles in the mirrors. Likes to be seen as superman noticing superwoman. But actually fancies himself more and thinks you should too.

#173 TurnerNation on 04.14.12 at 5:55 pm

Cityplace Toronto, again!

http://www.cbc.ca/news/canada/toronto/story/2012/04/12/condominium-glass-condominiums658.html

A prominent developer is installing protective mesh on balconies of some of its downtown condominium buildings over concerns of deficient glass.

Residents in three relatively new condominium high-rise buildings in the CityPlace complex near Front Street and Spadina Avenue received letters from Concord Adex earlier this week informing them of plans to install protective mesh on their glass balconies.
Raylene Knutson says she is glad the developer of her building has wrapped her balcony in mesh. CBC
The developer’s concern is prompted in part by a rash of incidents late last year when panes of tempered glass fell from downtown high rises and onto the street. The supplier to those buildings is the same one that Concord used for their three affected buildings, which were constructed in the past two years.

#174 Westernman on 04.14.12 at 6:08 pm

Form man @ # 172,
How ironic your post begins with a immature pre-schooler taunt …
I guess you can’t stand a straight up debate with a grown up, reality – based MAN who tells it like it really is and isn’t the least bit apologetic about it either…
Well, not to worry, little Jhonny will come tip-toeing through the tulips to comfort you…

#175 TurnerNation on 04.14.12 at 6:09 pm

We are doomed to a slow starvation, as the elites are “killing us softly”.

Food prices will skyrocket. Nonsense tax on thin air. CONs hate Canada, seeking to destroy it.

http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/greenhouse-gas-rules-drive-up-truckers-costs/article2402192/?

Greenhouse gas rules drive up truckers’ costs

Canada’s truckers – including drivers of full-size pickups – are facing rising vehicle costs as Ottawa joins with the United States in imposing new greenhouse gas emissions standards starting in 2014 model years.

But the higher upfront costs should be recouped in a few years of operating the vehicles as trucks become more fuel efficient and reduce their consumption of high-priced diesel.

The new regulations – developed in concert with the U.S. – will target a range of heavy-duty trucks from 1-tonne pickups to the largest tractor-trailers. The two governments have already set emission regulations for light-duty vehicles until 2016, and are expected to issue new rules for post-2016 models in the coming year.

#176 renters rule on 04.14.12 at 6:16 pm

@#66 Jimbo

“Don’t play stupid, because I know that you are not. This post targets women inappropriately. Misogynistic title, a picture to match. BMO did not say women are to blame, you insinuate it in your discussion of their findings… blah blah blah…”

And that, my friends, is why so many men I know date and marry Asian women.

Sorry, my understanding is that is due more to…. ahem… other shortcomings….expectations are a lot lower, er, I mean shorter…

You are an idiot

#177 TurnerNation on 04.14.12 at 6:20 pm

Our very own Blog Dog Carney pronounces, next week:

http://www.theglobeandmail.com/report-on-business/top-business-stories/bank-of-canada-next-week-hawkish-or-less-dovish/article2395858/?

Governor Mark Carney and his colleagues are expected to hold their benchmark rate steady at 1 per cent on Tuesday, which will be followed by the release of their Monetary Policy Report a day later

#178 Republic_of_Western_Canada on 04.14.12 at 6:47 pm

#98 John Jacob Jingleheimer Schmidt

I can’t say you’re altogether wrong. Far from it. Canadians certainly come off as having a big measure of condescension, entitlement, and naivety. Especially those on holidays financed in good measure by HELOCs and offered up in vanilla-flavoured packages by the local travel agent. Which pretty much sums up the majority of southern Ontario and the self-righteous nouveau-riche younger
married suburbanties of the west.

But that’s our cross to bear, and one day this artificial politically-correct behaviour enabled by cheap easy credit will develop into something a bit more mature. With or without regional catastrophes of one kind or another. We finally conquered part of a stupid restrictive gun law by collectively amending it away through Bill C-19. With luck and determination we can do the same to conquer some of the greed and avarice of the housing/debt bubble.

On the other hand, the anti-American global attitude has been very well earned by the Yanks. Both the 9/11 attack (essentially a retribution) and cultural animosity on both Cdn coasts towards the U.S. are variants of the same thing.

For example, there exist ConSon, Abu Graib, Guantanamo, Zionist partnerships creating hypocritical trouble in the mid-east, military presence in every country’s back yard to enable cheap energy and other political agendas, the forced destruction of superior Canadian CF-105s for Bomarc’s controlled by U.S. command, and U.S. flip-flopping of foreign relationships with Iraq and central America and Ghaddafi etc to suit the U.S. purposes of the day which put the WWII Italian flip to shame. To say nothing of what the U.S. establishment has done to huge numbers of its own people in the last 12 years.

That however just exacerbates some actual bona-fide truths and observations of differences between those north of the 49th and the nation below it. U.S. cheapness in construction and a lot of other things is very much a reality. Of course there [at least was] a much wider range of qualities and price points to choose from in the U.S. market overall. Canada has had a colonialised price structure for a long time which forced out extremes in price and quality, but taxed the population more. Visitors to the U.S. are also much more apt to see widespread low-grade areas and slums than the other extremes like Aspen, the Hamptons, or Palm Desert. Although this helps explain the perception of low quality, it does not rationalize it away. That still exists, sometimes in spades.

Big differences can even be seen in Europe, for example when driving out of Switzerland over to France or Italy. Suddenly the road quality, average building quality, or cleanliness takes a bit hit for the worse. A fact, even though it does not make the French bad people. Modern German trains are more advanced than the Dutch (or Belgian) ones (yes I’ve lived for years in Holland), and the pseudo-socialism of Holland wears a bit thin after awhile. And I’d feel safer on the Autobahn than on most roads between Maastrict and Groeningen. Not to mention the more advanced German language compared to the Dutch or Swiss. That might rile up a bunch of defensiveness all around the table but they are still facts.

In many years of U.S. residence, I indeed found it very pleasant, even refreshing. That largely included the people, especially the younger ones. The really irritating stuff generally was only visible when one had contact with gov’t -related officialdom or mass media or foreign-source news of one atrocity or another. Or when economies dried up, good people disappeared, and things got very tough for millions.

Hopefully Western Canada can do more than just muddle along into the future. The threat of subdued foreign intervention whether political or economic can only be dealt with by a strong population not strung out on debt and brow-beaten by some else’s political-correctness.

#179 penpal on 04.14.12 at 7:01 pm

@ # 137 John G. Young

1) Do you or have you dated any Canadian women in the past 10 years?

2) Are you married to a Canadian woman?

3) Do you deal with/ engage/ converse with Canadian women on a social basis?

Or are you the standard issue no-balls or denutted Canadian wimp man that I steamroll over on a regular basis that wouldn’t stand up for himself against the feminist onslaught if his life depended on it?

My guess is the answer is no to the first three questions and that the last paragraph is an accurate description of you.

Your slip is showing buddy!

#180 daystar on 04.14.12 at 7:09 pm

#169 Westernman on 04.14.12 at 5:00 pm

Take some time and check this out:

http://www.youtube.com/watch?v=aybKnSZ26Sw&feature=related

I must say, I’m quite impressed with Allan Schore’s work. I’ve been emersed with his findings today. Its good stuff.

I’d like you to read this entry on the Anxiety piece (yesterday) Sorry about the grammar.

#204 daystar on 04.13.12 at 6:48 pm

#181 John Jacob Jingleheimer Schmidt on 04.14.12 at 7:14 pm

Sky, thank you for demonstrating exactly what I’m talking about. You could not be more ill informed or ignorant if you tried. You live in fear that is engineered by a socialistic society that is entrenched in conformity, conspiracy theories, and lack of imagination. I think it is funny you would not instead look within your own country and understand the severe problems facing Canada and its people today. You must love paying tax after tax, being enslaved to a country that constantly blows propaganda and sunshine up your ass. Live in your bliss – ignorance that is. You take numbers and instead of drilling down to the heart of them you choose to just go with it to make yourself feel better about your life in the tundra. I have been to Canada many times and it is the very reason of my interactions with Canadians that I would make a general statement they are exactly as I posted. Again you just proved my point. Enjoy your taxation to enslavement, healthcare that is not up to parody, and three television channels owned by your government.

#182 AprilNewwest on 04.14.12 at 7:28 pm

157 – Angry Reverend. What else would you expect realtors to say.

#183 penpal on 04.14.12 at 7:31 pm

@ # 116 The real Rip

I don’t have a small business.

I retired young, but I’ve done a lot harder work than you in my life if you are a concrete former.

I’ve been hiring your type for many years.

You guys are exactly the most perspicacious people in the world, nor generally are you bright enough to be doing anything more mentally challenging than your job.

That said, do try to follow along to learn a little something about what is about to affect your future, and soon;

Small businesses create almost all the net new jobs in a modern democracy.

Large businesses tend to shed jobs.

If you do not have small businesses being created and kept in conditions that encourage their growth, you don’t have new employment growth. Canada is strangling new businesses through regulation. This regulation will not be repealed in time to rectify the situation.

Existing and potential jobs will be lost.

No new jobs, much less demand for an oversupplied condo market.

Nobody to by new condos, guys like you are out of work.

Btw…I’d be shocked if your company wasn’t contracted thru 2012 given the number of projects I see in process in Toronto and elsewhere.

What are you gonna do next year?

And the year after that?

And then, the year after that?

You’ll go broke, or retrain or be forced to retire.

You are in the industry and can’t see the forest for the trees.

You are espousing your hopes in your posting, not reality.

If you could be honest with yourself and not so terrified that I am correct, your delusion would end and you would see the inevitable approaching. You are in the most vulnerable position of all – multiple unit condos that are way oversupplied across the country.

Nothing lasts forever, especially economic anomalies like the Canadian RE ponzi market.

I would suggest that you must be shitting yourself with the prospects for your job, but I just don’t think you are capable of thinking much further ahead than the next concrete pour.

Good luck – you are going to need it sucker.

#184 Canadian Watchdog on 04.14.12 at 7:45 pm

#174 TurnerNation

It’s even worse. Check out Raylene Knutson’s Twitter page http://twitter.com/#!/rayleneknutson/status/183672014576422912/photo/1

#185 macduff on 04.14.12 at 7:47 pm

So here’s the thing. Since I began reading this blog about 5 years, I have shared the red flags about real estate (I concur with GT) with the women in my life (I’m separated so I have met a few in the last few years). Anyway, almost all of the women that I have met have no concern about real estate, and in fact express alarm that I rent. The secret to keeping this crazy real estate market afloat is women; it may sound crazy to say this, but without women, this market would be doomed. However, despite all the signs that point to a real estate market downturn, most women that I encounter have not concerns whatsoever about the sustainability of the real estate prices in Canada.

#186 Teresa on 04.14.12 at 7:59 pm

Hi Garth

I’ve just started reading your blog in the last 2 weeks. It’s amazing to me that there are other people out there who also agree that real estate is bound for a fall soon. Great blog!

How should the average Joe and Jane invest their money, if not in bank mutual funds earning <2% or the orange guy's shorts? Would love to know how to get a piece of the 7% you mention in the article.

#187 Kris on 04.14.12 at 8:07 pm

Went to see a new development of SFHs in Burlington, Ont. About 12-18 months ago, at this same development, the SFH of my liking was listed at $550K (+ options + lot premiums etc etc). The new price list had me gaping in disbelief – Base price was $670K! Prices across the board have gone up 120K-140K, in <2yrs. And htey appear to be selling briksly.

#188 Oscar Wilde on 04.14.12 at 8:10 pm

What will make the housing boom go bust? ‘Greed’

http://www.theglobeandmail.com/life/home-and-garden/real-estate/buying-and-selling/what-will-make-the-housing-boom-go-bust-greed/article2402051/

#189 The Thing in the Basement on 04.14.12 at 8:16 pm

From the CMHC website:

Newcomers with permanent resident status have access to all CMHC Mortgage
Loan Insurance products (subject to product specific eligibility requirements).
 For permanent residents, where there is limited Canadian credit history and
where foreign credit bureaus are not available, CMHC continues to consider
alternative sources of payment history for Loan-to-Value ratios between 80.01%
and 95%.
 Newcomers with non-permanent resident status have access to CMHC-insured
financing of up to 90% loan-to-value ratio for the purchase of a 1 unit owneroccupied
residential property.

http://www.cmhc-schl.gc.ca/en/hoficlincl/moloin/hopr/upload/CMHC-Newcomer.pdf

#190 This is Wonderland on 04.14.12 at 8:18 pm

#124Jimmy

Thanks Jimmy, this is the reason I come to this pathetic blog; even though I had to wade through a ton of crap first.

#191 The Real Jimbo on 04.14.12 at 8:21 pm

“Wow, sexist AND racist in the same sentence — that’s some sort of accomplishment.”

Actually, I’m racist, sexist, homophobic, ageist, weightist, and every other kind of “-ist” there is. I I think 100% of people do this. To say otherwise, you’re just fooling yourself.

I have never called anyone a racist, sexist, ageist, weightist, etc and never will. It’s because I know that everyone is, to varying degrees. Everyone prejudges people and groups, both good and bad, based on these factors.

Most people who level charges of “racist” or “sexism” are just fools, in my opinion, who just want to shut down free and open discussions.

#192 45north on 04.14.12 at 8:29 pm

Bill Gable: Their complicity in this total distortion of Dumbcouver is beyond the pale.

There are two (unrelated) origins to the expression according to wikipedia. One refers to the part of Russia where Jews could legitimately settle. The other one which attracts my imagination is the part of Ireland under the authority of the English.

http://en.wikipedia.org/wiki/The_Pale

notice on the map the western most clan O’Flaherty – totally outside the pale

#193 molsson on 04.14.12 at 8:59 pm

Hi Garth,
What do you think the article at this link.
http://www.facebook.com/l.php?u=http%3A%2F%2Fmoneytalks.net%2Ftopics%2Fpersonal-finance-and-real-estate%2F6812-canadas-housing-bubble-continues-to-soar.html&h=DAQHw9OaTAQF68dPMn2SCUOwf5fRmRl9SxN–_C7JxNqOFw

#194 guy from toronto on 04.14.12 at 9:19 pm

Wow, thanks for your enlightened comments John Jacob Jingleheimer Schmidt

You’re certainly good for a chuckle, are you a comedian perchance?…..”Enjoy your taxation to enslavement, healthcare that is not up to parody, and three television channels owned by your government.”

Are you doing standup comedy all week? How is the veal?

Rim shot.

Listen pal, I was going to provide a bunch of points to counter the negative impression you seem to have developed, but based on your followup post and the vitriol you have on display I can see it’s not worth the time or energy.

Good luck with your RE development schemes and your Canadian-bashing; I am sure they’ll both continue unabated.

Don’t let the door hit you on the way out buddy.
***************************
“I really think Canadians are completely screwed any way you cut it. I’m not a Canadian. I have never seen a more entitled, self righteous, uncreative, hypocritical, misguided, and lame herd like mentality as I have seen with Canadians. As harsh as that statement is, I mean no offense as I know it is only speaking in a generality and not an absolute.”

#195 I'm a multi-millionaire and I'm not buying in Canada..yet, but I took Garth's advice and bought in the US! on 04.14.12 at 9:33 pm

Just got back to Kelowna after spending the winter at my 3 bedroom house in SW Florida, in between Naples and Venice….by the way its on 1/3 of an acre, new irrigation system for the lawn, a dock with 80 ft of seawall on the gulf coast, new pool, new bathrooms, new kitchen, stainless and granite everywhere, new air conditioning, new roof, new soffits, new electrical, new paint inside and out… totally renovated.

I bought it for $170,000 last April and I put another $70,000 into renos all in for $240,000 US! This house last sold for $600,000 without the renos. Now it’s truly beautiful!

When I get back here to Kelowna last Wednesday and look at the dumps they want for $750,000 I gag. I’m in no hurry to by in Kelowna or Canada…there is no value here.

In real estate you make your money going in, not coming out.

In fact now that I know the real estate market in SW Florida I’m thinking of buying another 4 houses and flipping them, I have a friend who has done just that and is making an 18% return on his investment.

If you’re thinking of buying a place in Canada it’s best to listen to Garth and just be patient, if you own a house please sell now, the tide is turning as I write this, the Canadian bubble is beginning to burst.

#196 A on 04.14.12 at 9:35 pm

Garth,

Coll graph:
http://pics.livejournal.com/strelokizluka/pic/00004e0c

#197 Debtfree on 04.14.12 at 9:51 pm

@192 trj you left out organized religionists . I dispise them all equally . They are a scourge on man kind dividing us all into idiotic belief systems . When the JWs come pushing their garbage /fire starter I am polite but inside I just want to puke . The divine bureaucracy allows adults to remain children . Leaving decisions and fault to the invisible man in the sky. I once asked a religious coworker /zealot if all the chinese and Indians that had worked hard ,raised their families morally and with loving care would end up in hell because they had never heard of his deity . His answer was yes. If we are ever to get rid of the other isms . Religism would be a good starting point.

#198 disciple on 04.14.12 at 9:54 pm

While modern and erudite as you may be, it’s interesting you didn’t catch the juxtaposition of my headline and picture. It actually means the opposite of what you perceived. Being literal is a bitch, as it were. — Garth
——————————————–
Oh-hoo-hoo-hoo. Girlschool: emergency…

http://www.youtube.com/watch?v=FbR2eczApEI&feature=results_main&playnext=1&list=PLF8769FF8D02678F8

#199 ozy - Ban Fraud! on 04.14.12 at 10:45 pm

Fraud by smart$ obviously

http://opinion.financialpost.com/2012/04/13/to-tame-torontos-housing-bubble-ban-foreign-buying/

#200 Smoking Man on 04.14.12 at 10:55 pm

#163 jess on 04.14.12 at 4:31 pm

How you picked up on, Little Green Man, then the Oz story is incredible. The little Green Man I make references to is the little gut behind the curtain in the OZ flick.

Note to Self. Never Play poker against jess

You are good brother.

#201 John G. Young on 04.14.12 at 11:06 pm

#180 penpal on 04.14.12 at 7:01 pm

“1) Do you or have you dated any Canadian women in the past 10 years?”

No, and with your attitude, I suspect your probably haven’t either.

“2) Are you married to a Canadian woman?”

See #1 above.

3) Do you deal with/ engage/ converse with Canadian women on a social basis?

Absolutely, all the time — in the city I live in they make up over half the population. Also in my family I have a mother, sister, niece, and my nephew’s wife, all of whom I love and respect.

“Your slip is showing buddy!”

Oh, was that the “steamroll” you were referring to? Gee, I’m still standing.

Trying to insult a man by insinuating he is a woman just demonstrates your contempt for women.

#202 Nostradamus Le Mad Vlad on 04.14.12 at 11:12 pm

-
#88 GregW, Oakville and #91 GregW, Oakville — Hi Greg.

I haven’t had a driver’s licence in over a decade now. Partly blind in both eyes, no peripheral vision and paralyzed on the right side means I am totally reliant on the better half, taxis, friends and walking (but at least retired).

Thing is, if I got everything back tomorrow, I wouldn’t drive anyway, as it’s cheaper to pay someone else, rather than yearly ins. and maintenance bills. Thanks for the other links. Cheers!

#128 Smoking Man — “It boggles my mind how people walk trough life clueless to Danger and Oblivious to opportunities.” — Commonly called sheeple. Avoid them at all costs. They are detrimental to one’s mental stability!

#150 truth hammer — “Isn’t this exactly what is taking place in Canada? The real estate bubble is secondary to the much larger issue of debt . . .” — Ah yes, illusion of the greatest sort.

Create a fictional bubble, use politicos, RE trolls and the like to jazz it up, encourage DDs (dumbass dickwads) to use HELOCs or LOC to max out and ‘improve’ their self-imposed stature in life, then pull the rug out from under their feet.

Perpetual debt slavery, passed from one generation to the next. That’s the western lifestyle!

#176 TurnerNation — “We are doomed to a slow starvation, as the elites are “killing us softly”. Food prices will skyrocket. Nonsense tax on thin air. CONs hate Canada, seeking to destroy it.”

Aptly said, and this may help one’s understanding further. Cdns., whether they know it or not (and most don’t) are under somebody else’s control. Politicos and lobbyists are the fronts for them and the US.
*
Scamming, not jamming Wonder if this goes on up here? Do bears shit in the woods? Latin America “Latin America prospered during the 2008-09 financial crisis largely because its house was in order, thanks to reforms put in place during earlier periods of economic turmoil.”;
Tech Talent Going the way of the dodo bird? Japanification That’s what we’re all being turned into; Lessons for Cdns.; The Weakness Sounds like a horror movie; Three Countries may default this year, the rest are broke anyway, and Destroying Hot Economies; China Yuan vs. US$.

Peak Oil? Not necessarily; Nine trillion reasons which goes with this; Don’t forget the Cycle Change Further evidence; IMF Debt Forgiveness? Methinx TPTB are running scared, as Cdns. taxes should go down dramatically! Plus Fannie and Freddie to forgive principal payments?
*
4:35 clip CNN and Anonymous (via OWS) report total revolution in America! Has April Fools gone by yet? Guerilla Gardeningn Movement “If everyone bought vegetable seeds and started planting them everywhere, not caring who “owned” the ground, then there would be free food for the homeless and for each other. This is the essence of the guerrilla gardening movement.” wrh.com; UK State Snooping Some MPs don’t like it; US Navy Spending money like drunken sailors; NATO – US Provoking War with Syria Who are the money men behind the chatter? Remove them, end the wars; Drug Legalization Follow Portugal and Holland’s examples. Remove the pusher.

Geography April Fools joke, or Siberia to join US; HAARP rings in mid-west See the tornadoes today? ‘Quake Drills; Marilyn Monroe She was a beautiful woman, no doubt of that; WSJ and Pseudo Science m$m — whaddaya expect? Blown Away Check the height of the jet above the beach; EPA and Monsanto “There are few corporate actors on the international stage today with a more vile history of destroying and maiming human, animal, and plant life than has Monsanto.” wrh.com; American Nazi Party has first lobbyist; Paradigm Shifts on earth.

#203 Van grrl on 04.14.12 at 11:21 pm

#87… John:
May I ask why you think I sound like a guy? Because for a straight woman to declare publicly that she would be interested in a butt shot of an attractive man is not “feminine”?? Ever heard of Queer as Folk? Shot in Toronto, ran about six seasons. Probably not, as I’m assuming you are a straight male. It was about a group of gay men and their friends. Hottest man-on-man scenes ever! Super popular with gay men (obviously), but what astounded the show’s producers were the legions of female fans.

Seems no one guessed women would be turned on by such a thing! Well of course not, why would they? We all grow up perceiving the world through a straight male perspective and I have found this with many of my straight guy friends (but not the gay ones). The terms “masculine” and “feminine” are not decided by YOU, or culture for that matter. You do not get to decide which woman is feminine, or for that matter, what truly makes a man masculine.

My surprise at Westernman’s comment was simply that HE seems so intent on finding these huge differences between men and women. I always find it odd- but perhaps I just have a much wider, open range of friends than most/exposure to people?

Wow, how did this become a blog on gender issues?? hah

Must be my powerful masculinity. — Garth

#204 Amazed on 04.14.12 at 11:22 pm

My female agent friend tells me that real estate is never going down. They are also planning on investing now in real estate as are their cash poor relatives that just sold. They have decided that retirement will include flipping homes…. Because real estate never goes down…. You just can’t reason with people. I’ve given up. These people don’t trust anything other than real estate…. It’s truly amazing.

#205 Amazed on 04.14.12 at 11:24 pm

Anybody notice that every billboard… Bus stop… Mailbox is littered with agent advertisements???? Pumping related estate hard.

#206 Amazed on 04.14.12 at 11:25 pm

I guess for as long as I’m the lone voice saying that relationship estate is not a good investment…. Things will not change. I’m not evening debt and I feel this way.

#207 SE Asian Expat on 04.14.12 at 11:28 pm

@#54

“You want to be ethical? Use local guides and translators and tour companies when visiting a developing country. Rent a home from a citizen of the country you’re in, who also actually lives there full time. Find ways to keep your cash in that country’s borders. Dare to see the poorest, seediest parts of the culture to get a true picture of what citizens are up against. That’s how you help people.”

I agree with all these points in your (somewhat)more civilized response today. I still don’t understand the hostility. To give you a bit more insight…

Street kids and street dogs are my favourite charities here, as paying a lot less tax is a trade off for much reduced physical and social infrastructure. Instead of being a wage/tax slave, I can choose where my hard earned money (not laundered) can help.

I do however insist that living in a locally built and owned house (buying a 30+ year lease) with a bamboo/thatched roof, propane stove top in an outside kitchen, no granite, no steel, no pool, no car… does qualify as a”simpler life”. For 70k usd, I think I’m getting what I pay for.

Btw, it is also an obligation for a retirement, resident visa to hire at least one local person for personal care.(helper/driver/gardener).

It’s hardly possible to find this kind of simplicity in Canada for climate reasons, building codes, and social pressure. I follow this blog to continue to compare both physical RE and ethical lifestyle choices. The answers are becoming more and more clear.

Namaste from Ubud, Bali.

@ GuyfromToronto Look here, for example.

http://framelessworld.com/2012/04/ubud-bali-cure-for-the-soul/

#208 Canadian Watchdog on 04.14.12 at 11:30 pm

#182 John Jacob Jingleheimer Schmidt

Very touchy words, except you’ve excluded the mere fact that Canada along with the rest of the world wouldn’t have asset bubbles and markets crashing if it wasn’t for the US Federal Reserve’s reckless monetary policy.

It seems you’ve already learned the American way—create the problem, then blame somebody else. That’s American ingenuity.

#209 Van grrl on 04.14.12 at 11:34 pm

The Real Jimbo and Penpal-
Last time I asked my Asian female friends, they were pretty happy with choices/feminism too :) BTW, how do you know the person who made that comment, RJ was a non-Asian female??

Penpal- Not sure why you thought RJ’s comment meant non-Asian woman are not happy?? haha… some I know of have hooked up with some sweet, attractive Asian men so it seems to balance out ok. Anyway, happiness comes from within, not from another person.

Just so ya know!

#210 John G. Young on 04.14.12 at 11:36 pm

#192 The Real Jimbo on 04.14.12 at 8:21 pm

“I have never called anyone a racist, sexist, ageist, weightist, etc and never will.”

Just to clarify, I didn’t call YOU racist and sexist — I don’t know you at all. I called your STATEMENT racist and sexist, and I will stand by that until you convince me otherwise.

“Most people who level charges of “racist” or “sexism” are just fools, in my opinion, who just want to shut down free and open discussions.”

Thank you for qualifying that statement as your opinion, rather than an absolute fact. That does keep the door open for discussion, so in that spirit:

I’m not sure I agree that “everyone” prejudges people — I know that many, many do, including myself. However, does that mean it’s okay?
Have you ever been the target of prejudice?
If so, how did it feel?
And do you really want to make others feel that way?

Looking forward to your response.

#211 John G. Young on 04.14.12 at 11:47 pm

#204 Van grrl on 04.14.12 at 11:21 pm

“Seems no one guessed women would be turned on by such a thing!”

I too was surprised when I first heard this from (straight) female friends. But it makes perfect sense — it’s the same as straight men and girl-on-girl action.

“Wow, how did this become a blog on gender issues??”

Garth’s powerful masculinity aside, I think it might have something to do with the title and photo… :)

#212 Smoking Man on 04.14.12 at 11:48 pm

.#203 Nostradamus Le Mad Vlad on 04.14.12 at 11:12 pm

Vlad you rock so want to go for a beer with you

#213 SE Asian Expat on 04.14.12 at 11:50 pm

@#130 Blue Monster Lover of Meats and Vegetables

It looks like your lifestyle choices are also becoming clearer.

From experience, I can say there is a big difference between living and doing business in Malaysia and Singapore. I’ve lived in both and will continue to live and work in Singapore for another year or two while finalizing a retirement destination. My rent for a 950 sf condo is over 3k usd and personal income tax for me is about 7%. Singapore is a fabulous city. RE seems high but most locals OWN very acceptable government housing and also pay little tax. Recent government rules (it’s a benevolent dictatorship) heavily tax speculative RE transactions.

Apropos today’s blog… I am female and am choosing to live well below my means. My lifestyle choice is definitely an emotional one, but not for granite and steel.

I’ve found the possibility of combining the long term stability of owning with the liquidity of renting in “buying a long-term lifetime lease”. More and more I believe that RE speculation is socially detrimental, although I have by chance and not by design profited from selling a principal residence in Canada and abroad.

Good luck in Singapore. Selamat Datang.

#214 Smoking Man on 04.14.12 at 11:52 pm

DELETED

#215 v on 04.14.12 at 11:56 pm

Garth has a point
My wife is dying for a house even though i try to show her this blog.
She feels that because her friends are buying that we should too. Its true the place we are renting isnt the greatest but it fits are budget and will put us in prime posiion to pounce when the market crashes.
Trying to explain numbers to her is as effective as banging my head against the wall which is what I might start doing soon…

#216 Constitutional Lawyer Sues F on 04.15.12 at 12:04 am

Flaherty and the Bank of Canada are violating law.

Duh.

http://www.youtube.com/watch?v=ar_WRqoa4kM

“The Plaintiffs state that F has unwittingly or wittingly, in varying degrees, knowledge and intent engaged in a
conspiracy, along with the BIS, FSB, IMF to render impotent the Bank of Canada Act as well as Canadian sovereignty over financial, monetary, and socio-economic policy, and bypass the sovereign rule of Canada through its Parliament by means of banking and financial systems.”

#217 truth hammer on 04.15.12 at 12:06 am

the case of Iceland exemplifies stupidity a hundred times over. if those people had not borrowed they would not owe…..this is like asking for a ‘do over’ for the greedy. in fact the greediest have been rewarded…..now …let me see…..where will i invest in the future?

#218 SE Asian Expat on 04.15.12 at 12:07 am

@ John Jacob Jingleheimer Schmidt

Your verbose invective reminds me of what many Indonesians say about the Dutch.

#219 daystar on 04.15.12 at 12:14 am

#192 The Real Jimbo on 04.14.12 at 8:21 pm

“I have never called anyone a racist, sexist, ageist, weightist, etc and never will.”

Then you say…

“It’s because I know that everyone is, to varying degrees.”

Thanks for calling us all racists, sexists, ageists, weightists, etc. etc. which you said you would never do, lol.

Sorries, I didn’t mean to pick on you, just couldn’t resist a little humor there. By the way, it can be done, y’know, developing the ability to not be all those “ists” you talk about. It begins with the belief in equality, which opens one’s mind towards actually practicing equality and once you get to that level, no more “isms” and “ists” but lets not fool ourselves, there are other beliefs that are prerequisites before this can be achieved. I would be willing to discuss what they are but these beliefs have been better packaged and published or had biography’s of the teachings by those who achieved the practice of equality more easily accessed.

Examples of those who have successfully practiced equality that stops all those nasty “ists” and “isms” in its tracks would be the likes of Martin Luther King, Ghandi and older figures such as Bhuddha and Jesus Christ. They all had a belief system that shared common denominators which allowed them to form the belief in and later practice of equality which melts all your “ists” as you put them, away and some of their students have accomplished this too, so… 100%?

I wouldn’t be so certain, just as you shouldn’t be so certain you’ve never labelled anyone with your thoughts of us the way you just did.

#220 I'll do anything for a listing - please on 04.15.12 at 12:18 am

re # 54 Wageslave..
I totally agree when westerners move to Thailand or the Phillipines…. especially those with “Yellow Fever”. They find a wife and have everything…. Their American retirement, and all the good things a young asian wife provides – cooking, cleaning, intimacy, and worst of all, she is the local that can purchase the property under her name.

Sick…..sick sick

It’s worse than Guandong people buying Vancouver.

#221 ms bboomer on 04.15.12 at 12:53 am

This is the first time that the commenter’s section outdid Garth’s story. It was like watching a never-ending soap opera intermingled with slices of reality. I admit I read to the end as I often do, interesting in its own way, lol. Life 101.

#222 Timbo on 04.15.12 at 1:05 am

http://www.nytimes.com/imagepages/2011/09/04/opinion/04reich-graphic.html?ref=sunday

Graphs are worth a thousand words. Thank god the middle class is keeping up…

#223 getreal-tor on 04.15.12 at 1:19 am

#216 v on 04.14.12 at 11:56 pm

Don’t bang your head against the wall in the rental as you might lose your security deposit…

The majority of people, women and men, have a herd mentality and since houses are flying of the market with multiple offers they believe that this many people can’t be wrong. Free thought is a luxury these days as people have outsourced thinking to the professionals…

#98 John Jacob Jingleheimer Schmidt on 04.14.12 at 10:01 am

I think you had one too many space cookies in Holland and probably shouldn’t have smoked the hash in Turkey but keep thinking that your diatribes will somehow help you secure a citizenship in the United States.

Just as an fyi, in case you didn’t realize it yourself, but you came across exactly like the Canadians you described so always remember to check both sides and have a long glance in the mirror before talking. I thought manners were taught early on in Europe.

#94 penpal on 04.14.12 at 9:39 am

What you say has a lot of merit but let’s be honest, unless your high net worth friends live in a small town home and drive a hyundai, they aren’t much better than the average person except that now they can afford the nicer things.

People want nice things… the difference between some generations is that one generation wasn’t willing to give into temptation unless they could afford to buy it while the newer generation doesn’t mind financing it and living up to their eye balls in debt. Everyone does it and if you can’t fight ‘em, join em… One generation understood the value of money and how it was to earn it and the new generation understands how fast they can spend it and how quickly the banks are willing to give you more. It’s like a crack dealer, hook you first and then they will slowly have you turn tricks to pay them back.

#78 househornyhousewife on 04.14.12 at 6:58 am

Life without women would indeed be boring but that was before the Internet was invented… Now we have an outlet to entertain us for hours. :)

Women place too much emotional emphasis on “their” home. Houses are /not/ an investment unless you are earning monthly revenue on it… And I don’t understand the logic people use when they tell me their house is now worth 2x/3x/4x/5x of what they bought it for! Unless you are downsizing or simply selling it for good, the next home you are looking at also increase proportionally so the net gain is voided.

#224 penpal on 04.15.12 at 1:36 am

@ # 202 John G. young

Hey dude, from all your “sensitive” and female leaning posts, I thought you might be a woman or perhaps a man in drag.

As I noticed no comment about my comments on your lack of masculinity, I guess the later is closer to the truth and what you are really pissed about is my mention of your slip. Guess you’d really flip out if I mentioned your shoe collection.

And, btw…. to paraphrase some else’s line ”’ I have not yet begun to steamroll…”

Go to bed little boy and don’t forget your nightie.

#225 John Jacob Jingleheimer Schmidt on 04.15.12 at 1:46 am

Canadian Watchdog, you prove my point as well. This is really too easy. You are blaming Americas for the fact that YOUR country has chosen to create a real estate ponzi scheme in the same footsteps of the rest of the world. Only Canada is 7 years late to the game as usual. Your country had every opportunity not to replicate this same bubble as the rest of the world, yet you did. You took it to an entirely new level. I guess that’s the Americnans faults that you must be insane. You are what I and most of the EU refer to as a typical Canadian. Learn to grow a set of balls and take some responsibility for once in your life.

#226 John Jacob Jingleheimer Schmidt on 04.15.12 at 2:00 am

Republic Of Western Canada thank you for pointing out your perspective of what the U.S. has done over time. I ask you this – What the hell has Canada ever done? For every negative you would like to selectively point out, I can give you ten reasons why this country dominates. As I said earlier today – The U.S. has the worst government on Earth, except for every other government.

#227 ANONYMOUS on 04.15.12 at 3:20 am

#96 John Jacob Jingleheimer Schmidt on 04.14.12 at 10:01 am

– Yes, unfortunately everything John said is 100% correct.
————

What will kill the Canadian housing market is when consumers SIMPLY CANNOT BORROW ANYMORE, that’s it.

Right now the lending is still going crazy, no slowdown there, but when the new rules coming at the end of the year that will change everything, those new rules will be what simply stop the consumer from being able to borrow insanely and that will be when the bubble pops.

#228 The Real Jimbo on 04.15.12 at 5:11 am

#212… I’m not sure I agree that “everyone” prejudges people — I know that many, many do, including myself. However, does that mean it’s okay?

Again, in my view, it’s ubiquitous. Why highlight something that is natural and unavoidable? And why condemn someone when we all do it? Stop beating each other up for it.

On your right is an elderly man. On you left is a young man. You don’t immediately make assumptions? You don’t initially communicate with them differently? Everybody would.

How about the same situation with woman versus man? Ethnic minority versus white? Healthy and athletic versus obese? Clean cut versus scary looking? Attractive versus unattractive?

To charge that someone is “racist” or “sexist” is typically meaningless and empty in these politically correct times. It always comes across to me as desperation when someone hasn’t got anything intelligent to contribute or is uncomfortable with the truth.

Getting back to the issue at hand. I reported the truth. Why shoot the messenger? Why is it, in Canada, that anyone who tries to present a politically incorrect idea is shot down with a label?

The fact is that I know many profession, successful men who have ended up marrying Asian women. Why? In a variety of frank discussions I’ve effectively been told, “The women I previously dated had a ‘you’re lucky to have me’ attitude whereas my Asian wife had a more traditional ‘I’m lucky to have you’ attitude.” I see it. And, as a result, their respective husbands treat their wives like gold. And, no, these aren’t mindless mail-order oppressed women. Most of them are very intelligent, well-rounded professionals.

My personal view… Teaching any group that they are a victim provides an excuse for failure. Example: “It’s not my fault I didn’t do well… I was discriminated against because of ”

It’s not 1950 anymore. It time to stop teaching young Canadian girls that men are bad. Nobody is teaching my daughter that she’s a victim. Any woman who thinks she is a victim is destined for misery and failure… such as the woman charging Garth with sexism.

#229 Sky on 04.15.12 at 6:08 am

John Jacob Jingleheimer Schmidt # 182 – ” You must love paying tax after tax, being enslaved to a country that constantly blows propaganda and sunshine up your ass.”

*******************************************

What a truly insane extrapolation. Your post is a caricature of the antiSky.

The REAL Sky- the one who posts on this forum-is against central planning, big govts and their big digital spy systems,big taxes, big military,etc.

To characterize Canada as socialist and the USA as non-socialist is ridiculous. USA President Johnson kicked off the Great Society in the 1960’s.

Terms like socialism and capitalism have been rendered largely meaningless. The political/economic system which BOTH countries are currently using is corporatism( creeping fascism). And technocracy deployed against the citizens will evolve into a fascism beyond Mussolini’s wettest dreams.

USA has unleashed its military (yet again) and its corrupt banksters. Canadian political lapdogs played along as usual( Afghanistan). The bankster plague is yet to be resolved and has infected a huge chunk of the world.

In a heavily propagandized climate of terrorist fear and economic uncertainty, Americans have been induced to give up many of their civil liberties. Easily done. The USA cartoon capitalists are highly skilled propagandists.

http://www.youtube.com/watch?v=2tvE3euZYqo

Propaganda America :The policeman of the world, valiantly fighting social injustice and oppression against daunting odds. America- the Great Christian Moral Arbiter. Motto : In God We Trust

The Real America : A nation of gullible Christians who don’t give a damn about THIS world because they’re busy dreaming about the NEXT one. Motto- Might is Right

You can pray all you want for the American cartoon end-times Jesus to come riding out of the skies to take care of problems in this world. It won’t do any good. Reality will prevail and the western world WILL reap the consequences of what it has sown. You won’t like the harvest. It’ll be a bitter one.

BTW – In my books Garth Turner deserves the ne plus ultra award for literary creativity as regards to the Canadian housing bubble – a crucial subject. In another place, another time, perhaps we’d have had another Carl Hiaasen on our hands? Sad, that. But what do I know? I’m just a dumb Canuck.

#230 };-) aka DA on 04.15.12 at 9:03 am

Average House Prices by City
Feb 2012 Feb 2011 Feb 2010

Yellowknife
$386,700 $381,492 $353,389
Vancouver
$806,094 $791,604 $662,741
Victoria
$464,570 $490,970 $481,246
Edmonton
$329,820 $311,674 $316,927
Calgary
$405,687 $400,879 $389,388
Saskatoon
$297,628 $287,202 $291,056
Regina
$285,374 $272,609 $263,753
Toronto
$502,508 $454,470 $431,509
Hamilton-Burlington
$356,980 $331,741 $314,656
Ottawa-Carleton
$349,797 $337,797 $318,894
Quebec City
$253,915 $244,326 $228,291
Montreal
$320,243 $300,471 $287,241
Fredericton
$161,785 $152,696 $149,013
Saint John
$180,104 $175,371 $168,735
Halifax-Dartmouth
$265,230 $261,638 $251,072
Winnipeg
$250,753 $228,180 $215,230

Source: CREA – Most Recent Month Reported

Now pit that against wage gains and debt growth and you can see why this is wholly unsustainable. — Garth

#231 Canadian Watchdog on 04.15.12 at 9:47 am

#223 Timbo

That graph is based on Prof. Richard Wolff’s thesis. I always recommend newbies to watch his lecture ‘Capitalism Hits The Fan’ to get an understanding of how we got to this point. http://www.youtube.com/watch?v=U6rIlBc-2MI

#232 eaglebay - Parksville on 04.15.12 at 9:59 am

#96 John Jacob Jingleheimer Schmidt on 04.14.12 at 10:01 am

Are we hurting your feelings?
You’re a very sensitive fellow, don’t get upset with your BS. You must be gay.

#233 Timbo on 04.15.12 at 10:04 am

http://theautomaticearth.org/Finance/spain-will-need-a-bailout-soon.html

“Analysts at Citigroup suggest Spanish house prices could fall a further 20-25 percent before hitting a floor. This will eat further into the value of the 300-plus billion euros’ worth of property assets on banks’ balance sheets – 176 billion euros of which is already classed as “troubled” by the Bank of Spain.”

http://www.thecomingdepression.net/media/video/chinas-economic-depression-has-begun-lang-xianping/#axzz1s7LcuMV2

“Lang Xianping: “The 9.1% figure is false.The inflation rate of
6.2% is also false. Inflation has reached at least 16%! Do you know how to calculate the gross domestic product (GDP) figure? Nine minus six. The actual growth rate, according to the CCP’s data, should be less than 3%. What if the inflation rate was 16%? What’s the GDP growth rate? Minus seven percent. The situation is this serious.”

China cannot avoid a recession with Europe grinding to a halt. I do hope, for Canada’s sake, that we start to pay attention before taking on more debt to fuel our bubbles…..

#234 Form Man on 04.15.12 at 10:13 am

#231 DA

you forgot to post the figures for Kelowna

#235 Form Man on 04.15.12 at 10:16 am

eaglebay, westernman, and others

I fail to understand the connection between sexual orientation and housing bubbles. Please enlighten me

#236 John Jacob Jingleheimer Schmidt on 04.15.12 at 10:17 am

“The REAL Sky- the one who posts on this forum-is against central planning, big govts and their big digital spy systems,big taxes, big military,etc.”

***********************************************

So then why the hell do you stay in Canada? Canada is everything you detest, less a military. This goes back to that word I used in my first post… Hypocrite.

#237 Tyredandboard on 04.15.12 at 10:18 am

@ };-) aka DA #231, thanks for the numbers, where did you get those average house prices?

#238 eaglebay - Parksville on 04.15.12 at 10:27 am

#130 Blue Monster Lover of Meats and Vegetables on 04.14.12 at 12:56 pm

Don’t let the door knock you in the derrière on the way out.
Hope you like rice and seafood grown in polluted swamps.
If you cannot make it in Canada, you won’t make it anywhere else. Running away is for chickens.
Oh, by the way, don’t drink the water.

#239 Canadian Watchdog on 04.15.12 at 10:27 am

#226 John Jacob Jingleheimer Schmidt

Canada and the rest of the world didn’t have a choice because the USD is the world reserve currency. Obviously you have no economic sense and understanding of how monetary policy works.

High praise to a man who’s been running around the world trying to find a place to live.

#240 rusty1 on 04.15.12 at 10:42 am

Heh! My 18 year old daughter thinks we should sell the house in the country (with a 45 minute combined car/bus commute to downtown), and rent a townhouse for 2 grand a month in trendy Westboro.

My wife pooh-poohed the idea, because the trendy rental would would cost $500/mo more to rent than to own. I don’t care where I live as long as I have a garage for the bike. The wife has a degree in math so not only do I trust her assessment, I know enough algebra to understand that happy wife = happy life.

#241 Timbo on 04.15.12 at 10:44 am

http://www.economics-antitextbook.com/2010/09/increasing-productivity-and-stagnant.html

http://www.mercerbradley.com/blog/2011/12/22/wage-increases-stagnant-in-2012-is-it-time-to-test-the-financial-job-market/

“Statistics Canada reported that average weekly earnings increased 2.2 percent for the year ending July 2011 while inflation reached 3.1 percent in August. The outlook for 2012 does not bode well for those looking to increase their income through pay raises. The Compensation and Trends Projections Survey forecasts average salary increases for 2012 at 2.8 percent although the financial industry is expected to be in the area of 3.2 percent.”

DA, Garth is right… it is just increased debt loads fueled by easy credit and low interest rates. The low rates were put in place to keep deflation at bay . Wages are not keeping up with inflation so cheap credit has been fueling prices ever since.

Our decade of growth has been a ponzi scheme. Enjoy those statistics from the CREA as they paint a very small part of the canvas.

#242 Timbo on 04.15.12 at 10:47 am

#232 Canadian Watchdog

appreciate the link…

#243 eaglebay - Parksville on 04.15.12 at 10:55 am

#156 Tamsen on 04.14.12 at 3:29 pm
“Can someone please explain why the government has not put a stop to foreign ownership in Canada yet? Australia and other countries have.”
_____________
We’re not Australia or some other countries.
This is Canada where there are still some freedom left.
The foreign investors are spending their money in Canada and Canadians are the ones benefiting.
There are two sides to every financial transactions. Sometimes it’s a win win. And sometimes there’s a winner and a looser.
Don’t you think that the Canadian Government has done enough damage already. Too many rules and regulations. Let the people think for themselves. The nanny state is for loosers.

#244 eaglebay - Parksville on 04.15.12 at 11:15 am

#176 TurnerNation on 04.14.12 at 6:09 pm
“The new regulations – developed in concert with the U.S. – will target a range of heavy-duty trucks from 1-tonne pickups to the largest tractor-trailers. The two governments have already set emission regulations for light-duty vehicles until 2016, and are expected to issue new rules for post-2016 models in the coming year.”
______________
That’s it, more government regulations. Exactly what we need. We’ve reached peak oil a while back, remember?
How about the governments of both the US and Canada getting out of the way of free enterprise and the tree huggers.
There’s enough natural gas to go around for the next 200 years. So, free enterprise can develop the NG business from exploration, development, distribution and use in trucks, trains, ships, industry, etc…
In the end, who pays for all this. As usual, the consumers and the taxpayers.

#245 John Jacob Jingleheimer Schmidt on 04.15.12 at 11:18 am

Canadian Watchdog, Canada did and does have a choice. Nobody is putting a gun to the heads of overly eager home buyers who have no concept of the debt loads they are taking. The U.S. Dollar as the reserve currency has zero to do with your country’s out of control buying behavior. The only thing Canada has going on is real estate real estate real estate. That has nothing to do with U.S. Dollar as the reserve currency. Like I said earlier you need to grow a pair.

#246 J.I.M. on 04.15.12 at 11:20 am

@ 186 McDuff

It was Ralph Nader who said it the best:
The suburbs exist for women. They have to show the world they exchanged themselves for something of value

#247 John G. Young on 04.15.12 at 11:29 am

#225 penpal on 04.15.12 at 1:36 am

“Hey dude, from all your “sensitive” and female leaning posts, I thought you might be a woman or perhaps a man in drag.”

Gay, not a drag queen. There is a difference, so please refocus your hatred on the proper target. Thank you.

“As I noticed no comment about my comments on your lack of masculinity, I guess the later is closer to the truth”

No, actually, I couldn’t be bothered. But I understand how people like you choose to see it that way.

“Go to bed little boy and don’t forget your nightie.”

I KNEW you’d come up with a witty retort, and you didn’t disappoint.

And BTW it’s John, not “buddy”, “Dude”, “Bro”, or any other term you substitute so that you don’t have to think of me as a real person while you spew your hatred.

Now go lift some weights, “penpal”.
Are you in prison?

This is officially the end to our gender-trashing, preference-smashing, stereotype-crashing predjufest. All further comments on this topic will be deleted. Grow up. — Garth

#248 eaglebay - Parksville on 04.15.12 at 11:35 am

#186 macduff on 04.14.12 at 7:47 pm
“The secret to keeping this crazy real estate market afloat is women; it may sound crazy to say this, but without women, this market would be doomed.”
_____________
It may sound crazy to say this, but without women, we wouldn’t have this crazy market. Hah…

#249 blargh on 04.15.12 at 11:41 am

#98 John Jacob Jingleheimer Schmidt on 04.14.12 at 10:01 am

I really think Canadians are completely screwed any way you cut it. I’m not a Canadian. I have never seen a more entitled, self righteous, uncreative, hypocritical, misguided, and lame herd like mentality as I have seen with Canadians.

Thank you John. I am a Canadian who lived for a number of years outside of the country so everything you mentioned was so glaringly apparent to me upon my return that since my return to Canada I swing between actively despising or feeling pity for my fellow Canadians.

You did forgot to mention that famed Canadian “politeness” which they wrap up in the most twisted passive aggressive social darwinism that is so hostile under its thin veneer of pretend.

Ohh and the herd mentality, fear of the “other”, fear of risk, and of course almost all of the negative responses to your post have been sadly predictable. News headline sterotypes.

In Canada it appears irony is like bronzey.. just not as shiny.

#250 penpal on 04.15.12 at 11:45 am

@ # 241 Rusty

Can your wife do math well enough to compute the value of your time? A 45 minute commute has a way of becoming an hour or more in the reality you encounter and is often not truly reflective of the door-to-door time consumed.

Also, is she calculating in the cost of fuel, bus fares, etc. into that equation?

My dad was a brilliant CA, but was as with all bean-counters he had his myopic areas or blind spots.

There are often non-monetary considerations (like your daughter being closer to a city center for perhaps schooling, entertainment, getting a part-time job, her happiness, etc.) in the real world, it’s not just the dollar amount. Accountants are notorious for being unable to value intangibles.

As to the happy wife = happy life comment, I only hear that from married guys who wish they weren’t cause they know they made a bad trade for their balls!

#251 eaglebay - Parksville on 04.15.12 at 11:47 am

#196 I’m a multi-millionaire and I’m not buying in Canada..yet, but I took Garth’s advice and bought in the US! on 04.14.12 at 9:33 pm
“I bought it for $170,000 last April and I put another $70,000 into renos all in for $240,000 US! This house last sold for $600,000 without the renos. Now it’s truly beautiful!”
_______________
So, what do you do with your house? Look at it all day and see how beautiful it is. Then what?
I don’t have to go to Florida or own a “beautiful” house to look at a beautiful house.
Whether in VI or Florida, all I would do with a house, whether beautiful or not, is sleep in it and sometime eat in it. I’m impressed, if that’s what you’re trying to do.

#252 van grrl on 04.15.12 at 11:52 am

Got to laugh when morons quote morons as if they’re speaking the truth…
Some of the hate/fear/ignorance on this thread was a bit much, but on to Sunday!

#253 penpal on 04.15.12 at 12:03 pm

@ # 224 getreal-tor

I don’t understand your response to my comment at #94.

My simple point is that people who buy expensive houses that they have to put big mortgages on or drive expensive cars that they have to finance / lease and thereby think that they are ‘somebody’ do so because inside they feel like a ‘ nobody’.

My reference to my well-to-do friends is that some don’t feel that they have to advertise their success due to their egos being in check.

Frankly, most of them feel it provides more privacy (in that they are not standing out) and no, they don’t live in small towns.

#254 John G. Young on 04.15.12 at 12:05 pm

#229 The Real Jimbo on 04.15.12 at 5:11 am

Thank you for your response. I agree with much of what you say, especially regarding prejudice being ubiquitous. However, I noticed that you didn’t answer my questions, in particular this one: Just because it’s common, does that make it okay? And isn’t striving to be better — as individuals or as a species — a worthwhile goal?

As to whether or not it’s “natural and unavoidable”, you might want to look at daystar’s post #220 — he/she clearly knows more about this than I do.

“On your right is an elderly man. On you left is a young man. You don’t immediately make assumptions? You don’t initially communicate with them differently? Everybody would.”

Again, not so sure that EVERYBODY would, or that that’s a proper thing to do. It’s convenient to pigeonhole people, which I think is why so many people do it; it’s much more difficult to see each person as an individual, and to treat them that way — but isn’t that what we all want, including you?

“My personal view… Teaching any group that they are a victim provides an excuse for failure. Example: “It’s not my fault I didn’t do well… I was discriminated against because of ””

Are they being taught that they are victims — and to use their victimhood as an excuse for failure (however you define that) — or are they being taught that they are equal? For example, you state, “It time to stop teaching young Canadian girls that men are bad”. Who is teaching them that?

Again, I look forward to your response. I would add that having a dialogue involves answering at least some of the other person’s questions; otherwise it is simply rhetoric. I hope that you choose to continue the dialogue.

#255 John G. Young on 04.15.12 at 12:07 pm

#233 eaglebay – Parksville on 04.15.12 at 9:59 am

Does this comment mean I have to put you back on my “troll” list? :(

#256 TurnerNation on 04.15.12 at 12:08 pm

F’ugly old semi. Selling 150,000 higher than it was, three years ago.

http://www.theglobeandmail.com/life/home-and-garden/real-estate/done-deals/nine-bids-for-leslieville-semi/article2384458/?

73 HILTZ AVE., TORONTO

ASKING PRICE $469,000

SELLING PRICE $546,600

PREVIOUS SELLING PRICES $399,900 (2009); $252,000 (2005)

TAXES $2,567 (2011)

DAYS ON THE MARKET Eight

LISTING AGENT Kara Reed, Chestnut Park Real Estate Ltd.

The Action: This semi-detached house near Greenwood Park in Leslieville was explored by three dozen realtors at an agents-only open house, upwards of 80 shoppers between two public open houses and 60 buyers with private appointments.

#257 vreaa on 04.15.12 at 12:16 pm

Reader Question – “What Percentage Of Residential RE Sales In The BC Lower Mainland Are CMHC Insured?”

Anybody with an answer to that question?
Please help:
http://wp.me/pcq1o-3Y5

#258 TurnerNation on 04.15.12 at 12:18 pm

It must be the start of Blog Dog rutting season!

#259 penpal on 04.15.12 at 12:23 pm

@ # 248 John G. Young

How in the world would I have any idea of your personal choices and how would that change my comments?

It would certainly not make a difference in my reply.
I reply to what is posted, not the individual.

I don’t work that way, but apparently you do as evidenced by your reply.

Funny how people who can’t argue a point default to labeling others.

I am a realist no matter what your hair colour JOHN, and that just doesn’t sit well with some folks , yourself included I guess.

#260 T.O. Bubble Boy on 04.15.12 at 12:31 pm

Thank god – rich people and High-end flippers and speculators will all be ok!

http://www.moneyville.ca/article/1160685–toronto-luxury-home-demand-on-the-rise

Yet another “news” article claiming HAM will save us.

#261 getreal-tor on 04.15.12 at 12:34 pm

#254 penpal on 04.15.12 at 12:03 pm

“””My simple point is that people who buy expensive houses that they have to put big mortgages on or drive expensive cars that they have to finance / lease and thereby think that they are ‘somebody’ do so because inside they feel like a ‘ nobody’.”””

I don’t think it is as simple as them just wanting to be “somebody.” We are living in an era where people have /zero/ patience and instant gratification trumps any logic or common sense… If the banks are handing out 600k mortgages with zero down, why won’t people take them up on the offer? Being in debt is trendy these days and people talk about taking vacations on their credit cards as if it is normal.

It’s a different generation today that does not understand the value of money and sacrifice… Many even say that why should they sacrifice their life, like their parents, when you can live life today on credit. They fail to see the bigger picture which is that their parents actually have money to pass down while they will leave nothing but debt to the next generation.

#262 penpal on 04.15.12 at 12:35 pm

DELETED

#263 Amazon on 04.15.12 at 12:36 pm

I have to say that in my experience it has usually been the men pushing for the bells and whistles. I think that men use women as scapegoats to blame for their wants. I mean come on, stainless and granite? Metal and stone? I don’t know a single woman who likes stainless (it’s a bitch to keep clean) or granite (cold and unforgiving, completely impractical). Metal and stone are guy things. Come on boys, man up and admit that you want it as much, if not more than the girls! Just for reference, I have been trying to get my guy to sell since 2008 and he has come up with every excuse imaginable, even contradictory ones, not to sell. And Garth, my resume is in the mail…

#264 getreal-tor on 04.15.12 at 12:42 pm

257 TurnerNation on 04.15.12 at 12:08 pm

Fugly? Didn’t you read the article… It had modern touches such as pot lights, a new furnace and the seamless glass shower downstairs! If I would have known about the place, I would have offered 1,000,000 for the place and then I would pay strippers to take showers in there while charging admission from the hipster leslieville crowd while serving them local brie, crackers and respectable niagara wine.

#265 eaglebay - Parksville on 04.15.12 at 12:48 pm

#256 John G. Young on 04.15.12 at 12:07 pm
#233 eaglebay – Parksville on 04.15.12 at 9:59 am
“Does this comment mean I have to put you back on my “troll” list? :(”
________________
Whatever, I don’t suck up to nobody.

#266 getreal-tor on 04.15.12 at 12:51 pm

#255 John G. Young on 04.15.12 at 12:05 pm

John,

It might be semantics but I’d much rather say that many people today fail to take accountability for their lives and/or actions.

Didn’t do well on your exam? Blame the teacher because they looked at you funny and not the fact that you didn’t prepare for it?

The boss reprimanded you for being late? Oh well, s/he is a ass who doesn’t understand the concept of traffic and not the fact that you ought to get your ass out of bed earlier.

Girlfriend or boyfriend broke up with you? It can’t be you, because your parents always said you are a wunderkind, so it’s gotta be them…

People would rather spend an hour today listing excuses than to simple say, I’m sorry, I f’d up – I’ll try to do better or it won’t happen again.

#267 Poorgoisie on 04.15.12 at 12:54 pm

Jingleheimer? My arrogant grandfather sent me a message from the grave he says “thanks for the tulips you ungrateful piece of shit”.
Canada has very few military accomplishments that are known to non-Canadians and as such we do not often boast, but for crying out loud if there is one boast to be made it would be liberating holland. I do not contend that Canada won the war itself but I mean if you take any WWII history book and look up Canada in the index you may only find one or two lines on scattered pages but those two lines are about booting the nazis from holland.
All that aside equating military success/intended success with national success is foolish. Also, don’t bother saying “no offense” before saying offensive things.
Double also, Penpal, John G Young is a gay man, he has said this many times and your repeated attacks on his masculinity are only making you look like an out of touch bigot. Westernman already knows this and is probably beyond help. Gentlemen get a calendar and a map, figure out where you are and act accordingly.

#268 eaglebay - Parksville on 04.15.12 at 12:58 pm

#246 John Jacob Jingleheimer Schmidt on 04.15.12 at 11:18 am

Talking about taxes. Towns are taxing their local fisheries, agriculture and so on. It wouldn’t happen in Canada.

“Bristol Bay, USA, salmon could be subject to a local fish tax if the preliminary vote totals in Dillingham hold up. The community was voting on a hotly contested measure to annex the Nugashak fish processing area into Dillingham, which would allow the community to impose a 2.5% local fish tax. About 5 million sockeye were landed in the Nugashak and the Wood River districts in 2011, and a 2.5% fish tax would have brought about $700,000 in additional revenue for the town.”

#269 mad vancouver on 04.15.12 at 1:28 pm

vancouver update
http://www.youtube.com/watch?v=jv4yLDXwf8A&feature=youtu.be

#270 Westernman on 04.15.12 at 1:39 pm

Poorgoisie @ # 264,
Oh yeah, Canada is a military juggernaut alright, a couple of Newfies in a rowboat with a 12 gauge shotgun and a case of beer – and you think I’m beyond help – LOL!

#271 Poorgoisie on 04.15.12 at 1:48 pm

Sorry, Garth didn’t hit refresh and subsequently did not know it was… Over!
http://www.youtube.com/watch?v=YlGqN3AKOsA

#272 The Real Jimbo on 04.15.12 at 1:54 pm

#255… “Just because it’s common, does that make it okay? And isn’t striving to be better — as individuals or as a species — a worthwhile goal?”

In my view, it’s idealism versus realism. You mentioned Jesus Christ. Well, even the Christian faith is based on the fact that we all unavoidably sin and therefore are in need of forgiveness and grace.

So, no, it not a worthwhile goal because the level of equality that many idealist strive for is completely unachievable. And, more importantly, the labels have no meaning because they become corrupted. Examples…

A man states, “I meet or exceed the qualifications. I scored better than the competition. But I was refused the job because I am an Antarctican. This is racism.” This is a valid charge.

But today, way more often than not, we hear something like , “I didn’t get the job. There are no Antarcticans on the site. They need to stop discriminating against Antarcticans and hire me.”

Many young people, especially, have no idea what the “-isms” really mean. They think that it means that individuals need to be punished or given a disadvantage to make up for wrongs of the past. They think it means that their particular group needs to be provided with special privilege.

This distortion of “equality” is ubiquitous as are the charges thereof. Charges of discrimination effective become excuses for personal shortcomings. Instead of leveling the playing field, the goal is to fix the game.

This distortion results in armies of victims. Sometimes it’s nice to be a white, heterosexual, average-weight, average-goods, average-ability male because, when you fail or when things don’t work out for you, you have no excuses and can’t blame it on some kind of “-ism”.

#273 truth hammer on 04.15.12 at 1:57 pm

Here’s another example of the financial industry deluding people into thinking their rich because of inflated real proerty ‘values.

In this ‘makeover scenario’ this ‘advisor’ supposes that the vale ue of the property will remain constant, mortgages will be paid off, costs will not rise ie taxes , mait, full ocupancy etc etc….totally naive assumptions across the page.

http://www.theglobeandmail.com/globe-investor/personal-finance/financial-facelift/the-heart-of-the-matter-for-this-couple-too-much-cash/article2401944/

This is exactly why people have been borrowing on HELOCs like crazy….they have been told that they’re ‘richer than you think’….and that easy credit will always be around.

Hey…dummy…….you’re going to have to pay it all back.

Unless the socialists have thier way and CMHC does an iceland on the taxpayer forgiving everyones bad choices……..after what Toronto did recently and agreed to overpay cleaning staff on ‘principal’ anything in wacko-socialist-liberal Canada is possible. Can anyone believe they said it was degrading and exploitative to make only $17 dollars an hour?

#274 Jane24 on 04.15.12 at 2:00 pm

Sadly I also agree that the word ‘Canadian’ can have a poor reputation abroad. I am Canadian but live in England and Italy and many there find us both rude and entitled. We think that we live in the best country in the world – but really guys, try traveling a little.

Shame.

#275 daystar on 04.15.12 at 2:05 pm

http://en.wikipedia.org/wiki/Narcissism

There are many inputs that lead to examples of narcisisstic group behavior such as “elitism” or an indifference to the plight of others. Nationalistic pride, wealth effects brought on by housing bubbles or economic sectors in a nation that outperform all others (think of the inputs to pre-nazi Germany in terms of pride either socially, economically or nationalistic), leadership that forms policy based on narcissistic motives…

Is it beginning to sink in yet as to what some of us are displaying not just here but everywhere?

1) Lack of empathy
2) Grandiosity
3) poisonous envy
4) sense of entitlement
5) a tendacy to exploit and manipulate others
6) arrogant, haughty behavior & attitude
7) believes themselves to be special and unique and can only be understood by, or associate with others who are special and unique. (elitist)

Those who have 5 of these traits (or more) can be clinically classified as having a narcissistic disorder. If they end as leaders of nations, history paints an ugly picture. The profiles are seemingly endless from the past emperors of Rome to Hitler and Stalin and more contemporary leaders of our day (it seems as though with North Korea, nothing has changed and its well explained in the last link at the bottom)

http://www.vancouversun.com/news/North+Korea+gives+first+speech+centenary+parade/6462338/story.html

From Hotchkiss’ to Millon, the book is out on this. Read the first link. Genetic theory (narcissists are born this way) is now dated and proven to be patently untrue but it doesn’t just stop there. What this also suggests about all other genetic differences from race, sex, age etc. is that past practices of slavery (from Rome to the U.S.A.) were born out of narcissism: All other “ism’s” from Ageism, Sexism, racism etc. exist through narcissism, its been our enemy all along (Martin Luther King nailed it 50 years ago) and the fight against narcissism is by no means over.

http://www.youtube.com/watch?v=36HquPzdxf4&feature=related

http://www.youtube.com/watch?v=MD5MI-EACI0

http://www.youtube.com/watch?v=aybKnSZ26Sw&feature=autoplay&list=PL4124F765619A9A9C&lf=results_video&playnext=3

Try if you can readers, to understand what I’m saying here. Whether its social, political or economical (and this is where RE/credit bubbles tie in for they are the products of what I’m talking about here, reflected by our leadership and their psychological traits) we are products of our environments. Never mind ourselves and what we witness on this blog in terms of narcissistic behavior, what about the behavior of our leaders? Are such behaviors themselves, a product of abuse? Of course. Where do we go from here…

Is Narcissism an addiction? What kind of present inputs are fueling narcissism in the macro socially, politically and economically? How do we treat those who have been abused?

http://www.youtube.com/watch?NR=1&feature=fvwp&v=oZ-FAX4Pz8I

#276 getreal-tor on 04.15.12 at 2:09 pm

#271 Westernman on 04.15.12 at 1:39 pm

It might not be a juggernaut but you’ve got to wonder if they would even admit you into our military.

#277 Westernman on 04.15.12 at 2:18 pm

getreal-tor @ # 277,
I don’t have to wonder at all… they wouldn’t and I wouldn’t let them if they tried…

#278 Ben on 04.15.12 at 2:18 pm

Got a few things at Krogers this morning. Milk, cereal, shampoo, bread, butter, cheese, salami, cheetos… comes to $12.62
Might have got the milk, cereal and shampoo for that back in Canada.

#279 John G. Young on 04.15.12 at 2:32 pm

#260 penpal on 04.15.12 at 12:23 pm

“I am a realist no matter what your hair colour JOHN, and that just doesn’t sit well with some folks , yourself included I guess.”

I think you’re wrong about my not being a realist, but thanks for using my real name.

What’s yours?

#280 John Jacob Jingleheimer Schmidt on 04.15.12 at 2:39 pm

I think you’re just upset that someone with a different perspective of Canada in general has voiced his opinions. Canadians aren’t used to that. It doesn’t conform to the precast mold of what your media tells you. I know it is difficult to understand. Believe me when I say this that Canadians are dreaded far more than Americans in places of the world like Europe and South America. Next time you travel, please rip the maple leaf off your backpacks and luggage, stop wearing maple leafs on your ill fitting sweat shirts, stop trying to interrupt conversations that do not concern you, stop asking if said country accepts canadian dollars as over the counter currency, stop trying to negotiate the price of everything, start tipping, and stop believing the world loves everything about your. They don’t.

#281 John G. Young on 04.15.12 at 2:41 pm

#224 getreal-tor on 04.15.12 at 1:19 am

“…the banks are willing to give you more [money]. It’s like a crack dealer, hook you first and then they will slowly have you turn tricks to pay them back…”

Just to confirm your point: I always used to pay my credit card balance off every month — until (in 2001) I became addicted to cocaine and started taking cash advances. When I reached my credit limit, I was relieved: I thought, thank God, I can’t get any more.
That very day, I received a letter from my bank saying that, because I’d been such a good customer, they were extending my credit limit by $3,000.
Banks are pushers, just like some drug dealers.

#282 John Jacob Jingleheimer Schmidt on 04.15.12 at 2:44 pm

And if Canadians are so against all that transpires within the boundaries of the U.S. boarders then please by all means stop traveling here. You won’t be missed. You aren’t even noticed in the first place until you start talking. That’s when it gets ugly.

#283 Devore on 04.15.12 at 2:50 pm

#223 Timbo

Gosh, I love how all these types of economic graphs pivot around the 70s… I wonder what happened there to cause such upheaval…

#284 Westernman on 04.15.12 at 2:55 pm

DELETED

#285 Fisc on 04.15.12 at 2:56 pm

Solution to Housing bubble in Toronto and some other Canadian areas:

Ban foreign buying:

“This artificially corrupts the housing sector, presents a great risk to taxpayers in future and inflates housing in the afflicted areas to unaffordable, unnecessary levels for Canadian buyers.

Such a transaction would be illegal in Australia or China, Thailand or Switzerland. Australia was a victim of a similar frenzy until 2010 when a ban was imposed. Here are the Aussie restrictions, itemized in a policy, issued by the Treasurer of Australia, that Canada should adopt immediately:

• Any temporary resident of Australia — a person with a work permit — can buy a new or used unit but cannot rent any of it to others and must sell when their residency ends. Temporary residents are banned from buying any investment properties;

• Non-resident foreigners are banned from buying homes or investment properties. The only exception is if a foreign entity doing business in Australia wants to buy housing for its Australian staff.”

http://opinion.financialpost.com/2012/04/13/to-tame-torontos-housing-bubble-ban-foreign-buying/

That will sold nothing. Ban greed. — Garth

#286 John G. Young on 04.15.12 at 2:58 pm

#267 getreal-tor on 04.15.12 at 12:51 pm

Is the kind of behaviour to refer to seen by yourself in younger people, say 20’s or 30’s.? I’m asking this sincerely, because I’m in my 50s and I just don’t see it in my peers.

#287 John G. Young on 04.15.12 at 3:02 pm

#268 Poorgoisie on 04.15.12 at 12:54 pm

Thank you. I need all the support I can get.

#288 getreal-tor on 04.15.12 at 3:24 pm

#281 John Jacob Jingleheimer Schmidt on 04.15.12 at 2:39 pm

You seem to forget that opinions are like a–holes… Every one has one but it’s how you choose to present it that will confirm if you are a real one.

Canada is far from perfect and nor are it’s citizens but you definitely paint pictures with wide strokes… If everyone were to paint pictures with wide strokes like you then we’d all assume that people from Holland are as arrogant and conceited like you.

#283 John Jacob Jingleheimer Schmidt on 04.15.12 at 2:44 pm

You are quite the funny guy… Your not even an American citizen as of yet but you are already beating the marching drums to the star spangled banner louder than the white house.

“””There’s only two things I hate in this world. People who are intolerant of other people’s cultures and the Dutch.”””

In case you missed the news flash amidst you banging the drums, Canada and America got along quite well long before you were even a thought in the minds of your parents during a space cookie induced night of clog dancing.

#289 gtrz4peace on 04.15.12 at 3:25 pm

John Jingleheimer:

If you are so hateful, why are are writing on a Canadian’s blog which deals primarily with Canadian finances and real estate?

We are ex-pats from the US and are offended by your tone.

Yes, Canadians can be very passive aggressive compared to us US folk and that takes time to get used to. Yes, the US has much to love and respect about it and sometimes Canadians bash us too much — even while they are imitating us (which kills me, LOL).

Overall, Canadians’ reaction to the real estate bubble isn’t much different than the people in the US before prices really started to crash.

it is called “the wealth effect”. Unfortunately the people and corporations (the same forces that have tried to wreck the US) that would like to demolish Canada’s Social Services, healthcare, middle class, etc. — those people know exactly how the “wealth effect” works in the human brain and how to use it to screw a majority of people when they least expect it.

Thus to the whole point of this blog in some respects, it is not “different here” or “different there” or anywhere.

And it’s about time people band together across borders and fight what many ex-pats see as a neo-fascist corporate coup where governments and laws for the people are being replaced by governments run by corporations — where the goal is to have all people exist only to serve corporate rule and profits. (a la Mussolini)

Wake up US and Canadians, stop fighting each other and start figuring out how to stop this scary transformation.

#290 gtrz4peace on 04.15.12 at 3:28 pm

Applause for Australia for trying to rein in foreign speculation, at least it’s a start. Garth, why do you think a similar set of regulations in Canada would solve nothing?

Nothing. — Garth

#291 getreal-tor on 04.15.12 at 3:47 pm

#282 John G. Young on 04.15.12 at 2:41 pm

“””Banks are pushers, just like some drug dealers.”””

Banks are worse because you at least know the motives of the drug dealers.

#287 John G. Young on 04.15.12 at 2:58 pm

Most definitely… Take a look at my generation and the next generation and you’ll see a lot of kids with attitudes such as “Work? Yeah heard of it from my parents but I won’t slave away like my parents, I am special” and yet they /all/ feel that they deserve to have the latest, greatest and the most shiniest toys all paid or supported by their parents and/or grandparents.

Then again, maybe I hang out with wrong crowd but this is the common theme amongst them… Debt to them isn’t a bad word like it used to be for most baby boomers.

#292 debtified on 04.15.12 at 3:47 pm

Thank you #231 };-) aka DA.

#293 John G. Young on 04.15.12 at 3:53 pm

#273 The Real Jimbo on 04.15.12 at 1:54 pm

Thank you for your thoughtful response.

I certainly agree that some people truly are victims, and others play the victim card in order to avoid personal responsibility. I also think it becomes a problem when certain people lump everyone into one group or the other — “victimism”, as it were.
As always, it’s the labeling of the individual — for the benefit of the labeller, never for the one labled — that creates the problem.

#294 getreal-tor on 04.15.12 at 3:54 pm

http://www.cbc.ca/news/business/story/2012/04/12/debt-survey-equifax.html

Canadians are continuing to heap on non-mortgage debt, despite warnings about the perils of cheap borrowing from top officials, according to a consumer credit study released Thursday.

#295 guy from toronto on 04.15.12 at 4:15 pm

thanks to #208 SE Asian Expat for that link, much appreciated.

man there have been a lot of angry posts the past couple of days….hope everyone can just chill out a bit….life’s too short for petty squabbling imho.

#296 John on 04.15.12 at 4:23 pm

Vangrrl’s comment says it all:

“The terms “masculine” and “feminine” are not decided by YOU, or culture for that matter. You do not get to decide which woman is feminine, or for that matter, what truly makes a man masculine.”

————–

Because you see, everything is relative. Men? Damn…get with it. Masculinity is not inherent and natural. Anyone can be a man. Vangrrl prove’s that.

The real question is, what kind of cost does this kind of insanity have? Everything becomes relative and “possible” since the laws of common sense and nature no longer apply.

Vangrrl thinks she’s getting a free ride, but she’s not. Living in a de-gendered reality, regular houses are being pumped for well in excess of a million bucks. Only your kind of belief system would allow that to happen.

“Queer eye for the straight guy”. You’ve fabricated a hyper reality where nature is relative and anyone saying otherwise is “intolerant”. Most women have really been hurt badly by the de-gendering of Canada ( and most western nations). It’s sick stuff.

All of this….explains your housing bubble. Do a survey of 1500 people who’ve gotten screwed in the Vancouver or Toronto real estate market and you’ll see that they see men and women just as you do…with little exception.

Not everyone who calls it “as it is” is a bigot. Westerman..yeah…but who cares about easy targets.

#297 newbie goat on 04.15.12 at 4:24 pm

gto please delete these idiotic children.they are taking to much of your blog time.

#298 penpal on 04.15.12 at 4:48 pm

@ # 268 Poorgoisie

I take great exception to your post in that you assume I knew that John G. Young is gay.

I have not followed J G Youngs postings until the past few days – I do not read all postings and skip over quite a few of the posters as I have no interest in their input.

If I knew the poster was gay, I would have posted nothing different, nor would MY opinion of HIS opinions be any different.

And just to put the record straight, I have gay people in my immediate family and am on good terms with them all and why wouldn’t I be.

I speak and write to my straight friends and accuse them of less than masculine traits all the time.

Stick to RE discussions and stick your political correctness up your azz

#299 Dan in Victoria on 04.15.12 at 4:51 pm

Wow, lot of hate out there.
Good post Lorne. Thanks.

#300 Canadian Watchdog on 04.15.12 at 4:59 pm

Here come those newly slashed condo prices as speculators front-run everyone to exit the market.

http://i40.tinypic.com/343kk1l.png
http://i40.tinypic.com/2cf9kx3.png

Good news is, there’s 40,000 more condos waiting to be sold. http://i40.tinypic.com/35jwg01.jpg

#301 triplenet on 04.15.12 at 5:02 pm

The little yellow bus stopped by this site again.
Lots of people having a good laugh.

#302 Don on 04.15.12 at 5:03 pm

Stick to the subject at hand.

288 comments and most of them are school yard arguments. Humans may get older but do not necessarily change.

Who cares what your gender, skin colour and sexual orientation are: this is a real estate blog. The most interesting read here is Nostra and of course Garth.

The rest of you need to go outside – it’s Spring – get some exercise, clear your heads and come back to stay on topic.

Oh yah! new listing signs everywhere on Van Island, young leaving for jobs elsewhere, rentals in Victoria are growing in number – have not seen this before. Realtor friend – told me that it’s over. Listen to your senses, trust your gut and shed the unhealthy bias or face the consequences of your ignorance, TRY to sell now and buy in later. Canada is not different we are just behind the times as usual.

#303 Market Bull on 04.15.12 at 5:23 pm

Canadain Watchdog wrote:

“Here come those newly slashed condo prices as speculators front-run everyone to exit the market.

http://i40.tinypic.com/343kk1l.png
http://i40.tinypic.com/2cf9kx3.png

Good news is, there’s 40,000 more condos waiting to be sold. http://i40.tinypic.com/35jwg01.jpg
_____________________________________________

Oh look, it’s the Watchdog pretending to have insider information again. Ever since he discovered Realtysellers, he entered the world of make-believe real estate expert – or was it before? Who cares?

#304 tran, Calgary on 04.15.12 at 5:24 pm

Canada’s red hot condo market could spell doom for sellers

http://ca.finance.yahoo.com/blogs/insight/canada-red-hot-condo-market-could-spell-doom-184017452.html

It’s a given.

#305 Julia on 04.15.12 at 5:36 pm

http://www.thestar.com/living/realestate/article/1159338–what-they-got
Is the Baview one for real or typo?

#306 daystar on 04.15.12 at 5:48 pm

Some of the negative social exchanges that have taken place can be very well explained by these links below. I believe anyone who checks these links out will be better off for it and understand much more fully the social dynamics of the negative exchanges that have happened here today.

Physician and Author Gabor Maté on ADHD, Bullying and the Destruction of American Childhood 1 of 3:

http://www.youtube.com/watch?v=sfJntNwXTRQ

Part 2:

http://www.youtube.com/watch?v=0kYI6tAGtiQ&feature=relmfu

Part 3:

http://www.youtube.com/watch?v=rrG09Nm4y_Y&feature=relmfu

The hidden cost of stress on peoples’ health:

http://www.youtube.com/watch?feature=fvwp&v=QrNxvpTDo_s&NR=1

Human Nature talk with Robert Sapolsky, Gabor Mate, James Gilligan, Richard Wilkinson:

http://www.youtube.com/watch?v=o-brqskIoBw&feature=related

#307 Van grrl on 04.15.12 at 5:51 pm

@#297 John-

De-gendered reality?? This is my problem with the terms feminine and masculine- feminine: of the gender to which words applying to women belong. masculine: of the gender to which words applying to men belong. (New American Webster dictionary).

Well that’s pretty vague, isn’t it? So tell me, what would those words be? And who decides they “apply” to women or men only? Don’t worry John, most women do not want to be men and vice versa. We all want to be respected and accepted for who we are- not so different and the heart of it (beyond physically), not forced into a rigid box of “this is only what a man does and this is only how a woman behaves”.

ps. It was “Queer as Folk”, not “Queer eye..”. You should check it out! Might like it :)

#308 Form Man on 04.15.12 at 5:58 pm

#303 Don

excellent post. Thank you.

#309 John G. Young on 04.15.12 at 5:59 pm

#297 John on 04.15.12 at 4:23 pm

“All of this….explains your housing bubble.”

Oh. Are all the housing bubbles around the globe caused by “this”?

And here I thought it was simple greed. I guess things are different here after all.

Holy crap.

#310 Smoking Man on 04.15.12 at 6:10 pm

#307 daystar

Nice

I knew it anway

#311 getreal-tor on 04.15.12 at 6:14 pm

“Sometimes the questions are complicated and the answers are simple.”
― Dr. Seuss

#312 Nostradamus Le Mad Vlad on 04.15.12 at 6:38 pm

-
#213 Smoking Man — “Vlad you rock so want to go for a beer with you” — I’m on the daft coast, soon to be beachfront property when the mega-quake levels everything up to Okanagan Lake. Get my e-mail addy from Garth, we can meet in a bar on the beach somewhere!

#290 gtrz4peace — “Wake up US and Canadians, stop fighting each other and start figuring out how to stop this scary transformation.” Sorta goes with —

#217 Constitutional Lawyer Sues F — Good post and link. The link may go with last night’s link, about Harper breaking Canada up into three sections — the west, Ont. and Quebec and the east; it would include The Six Areas of the US, possibly before the cycle change from the Caucasian to the Yellow – Red races. Lotsa stuff to come yet that no one has even comprehended!

#259 TurnerNation — “It must be the start of Blog Dog rutting season!” — Better still, ‘owzaboud spewing / neutralizing (or words to that effect) some of them!

#276 daystar — “Is Narcissism an addiction?” — It appears so. Sheeple are more than happy to show off their wares, no matter what the cost to them is. Vanity, thy name is sheeple.

#303 Don — “The most interesting read here is Nostra and of course Garth.” — Yay! Someone likes me! Cheers Don!

#313 Canadian Watchdog on 04.15.12 at 6:41 pm

#304 Market Bull

Huh? Insider information? It’s a listing posted on a public website you moron. Everyone knows I collect stats from that site. Wait until you see my new Red Pin statistics. Listings just soared 35%!

You’re just an old Jurassic Market Bull who doesn’t like people looking at information that you pay for.

Was that you who complained to MLS? He he he.

#314 Cy on 04.15.12 at 6:43 pm

#292

I’m a Millennial I’ve watched my dad’s job get outsourced. Then watched him work his ass off for 20 years without getting a head, nickeled and dimed to death by the respectable local business community. My mother has lost here dispatching job twice, a job she loved by the way, to centralization and “cost cutting” measures. Growing up I’ve seen all the anxiety, depression and anger that go along with debt and the shitty jobs people have to work just to get by.

It’s not that I think I’m special, I’m just smarter about living a meaningful life then my Boomer parents. They wanted Freedom 55, I want Freedom now.

I wouldn’t paint the whole Boomer generation as free loving fee loading drug using hippies like their parents did, so stop with painting the Millennials as some spoiled generation. The huge majority of us are working poor, sentenced to a life in the service industry gulag because Boomer business men saw fit to outsource all the good jobs to slave labor countries.

Tell me why would I work hard for some Corp or businessman that is just making money off my labor and paying me next to nothing? It’s not that I can’t work hard, I just won’t, the modern economy is just a giant scam.

#315 };-) aka DA on 04.15.12 at 6:45 pm

RE: #231

Now pit that against wage gains and debt growth and you can see why this is wholly unsustainable. — Garth

I was actually thinking positive thoughts about the numbers in terms of; hey, there are actually some places in the country where housing is downright affordable. Of course it is understandable how those “Vancouver” averages are frightening to most who don’t understand they are localized to “Vancouver” and not representative of those core areas of Burnaby, Coquitlam, and Surrey etc.

But most surprising to me was Toronto @ just $502,508. Given all the hoopla on this blog about rampant prices there and how it’s so much better than out west I’d have thought they’d be a lot higher than that.

Most often though I have found ya gets what’s ya pays for.

Having just toured through some of the more desirable places in the U.S. I noted people are still willing and ready to pay the big bucks for the more desirable dirt. My colleques down there are reporting encouraging signs of a housing market recovery – nothing too gangbusters just a steady moderate climbing back. But I’ll not get into that too deep as none here would believe me anyway.

#316 brainsail on 04.15.12 at 7:10 pm

#290 gtrz4peace

“Wake up US and Canadians, stop fighting each other and start figuring out how to stop this scary transformation.”

I’m sorry to say the fight is one sided. The wife and I left Canada in the ’80s and have been living in Central Texas since. We both work for major corporations and have had conversations with hundreds of Americans. “Where are you originaly from, you don’t have Texas accents?” ” We are ex-Canadians.” Nobody ever responded with negative comments about Canada or Canadians other than things like “They seem to enjoy standing in lineups” or ” They sure talk alot.” Those are comments from Americans that have visited Canada.

Canadians need to stop watching American TV because events that are reported here are much more transparent than events reported in Canada. 30 seconds on the internet and I can find out what Obama had for breakfest in Columbia today. Do you have any idea what your Prime Minister is doing today? You need to spent more time understanding what is happening in your own backyard!

#98 John Jacob Jingleheimer Schmidt

We concur with your statements. But be carefull with your respones because Canadians don’t like to lose.

#317 Nostradamus Le Mad Vlad on 04.15.12 at 7:52 pm

-
Soros and Daily Express “In 1933 the world’s bankers declared a global boycott against Germany because Germany was refusing to go along with the private central banking model imposed on the rest of the world, indeed had abandoned the private central bank imposed on them after WWI in favor of a government issued value-based currency which had triggered the “German Miracle” economic recovery. It was the anger and resentment from this attempt at a global boycott that provided the kindling for WW2.” wrh.com; Increasing Suicides due to fiscal crisis. It’s not worth it; Stock Plunger Same as a toilet plunger; EU blackmail by way of the IMF; 8:19 clip Tempe, Ar. Hope / Homeless, living in the desert; 29:13 clip At least 1.8 mln. living on the streets, incl. children and pets; A Billion Reasons Latest dot.com bubble; 2:55 clip US infrastructure being rebuilt by Chinese.
*
Uranium Double Standard from the US; Romney It’s eiter him or Jeb Bush. Obomba has almost completed his work; 3:54 clip CBS was lying about the figures in Colorado — Ron Paul swept and King County, WA – Ron Paul sweep; Irish Solidarity for Gazans; Anti-depressants and a mutation; US sanctions to provoke Iran’s Pearl Harbor? Osillybilly Gun control (confiscation) using outside troops (Soros’ hacks?); Monsanto and Philip Morris in Argentina; Permanent NATO, Permanent Wars “Translation: through these remarks, Secretary Clinton is both praising, and institutionalizing,the concept of endless war, courtesy of NATO.” wrh.com. Unless Russia and China hold steadfast.

#318 };-) aka DA on 04.15.12 at 8:06 pm

DELETED

#319 jess on 04.15.12 at 8:19 pm

…”Housing remains very affordable. Five-year mortgages are near historic lows, with the posted rate at most financial institutions at 6.95 per cent, compared to rates over 14 per cent in the early 1990s. Average resale home prices are rising modestly, up 1.7 per cent in 1998. In 1998, the carrying cost for an average-priced home in Ontario was $877, compared to $1,488 in 1990….

http://www.fin.gov.on.ca/en/budget/ontariobudgets/1999/99paper.html#A1

#320 John on 04.15.12 at 8:48 pm

Daystar: Gabor Mate deserves a Nobel Prize. I learned about him in Chile, and follow his work.

Gabor helps addicts in Vancouver’s East Side. I think the place is called “The Portland Hotel”. He has no judgment over the addicts he helps. He knows what it’s about. He himself is an addict. What he describes in his books reflects Canadian society. Denial and compulsion.
Canadians might want to be “civil” and “nice” about what’s happening to their society, but that doesn’t cover the source of the behavior.

I lived 5 years in Vancouver…leaving in 1998. I know the place. 20 years inside a Kitsilano apartment building could pass by, and it would be a blur. Their really is no steel to the place. I don’t remember running into a man there. The culture has washed that out completely. And with houses at 1.2 million near where I lived…it makes sense.

Vangrrl…no worries mate. I understand that culture. It’s really twisted. When there’s no anchor…no real community…and the men are isolated and soft, afraid of their own emotions and the anger of women, anything can happen.

And it did. The bank came to town with cheap money, and “people” ( it’s all just one nebulous relative mass) ate it up. Why would they not? Better still…how could they not?

Perceptions are mostly culture. I know exactly where you are coming from and what the “argument” is.

So we’ll conclude that the bubble ( and the thousands of collective decisons that caused it) just “happened”.

That’s my point. In a healthily gendered environment men would say NO. And that would be that. It couldn’t have happened unless the Canadian man-hate wasn’t in full play.

I used to be so far gone that I’d read the Toronto Star and not even notice what was going on. Now, after nearly 15 years in South America, it literally registers in the gut.

Culture is culture…nobody is “wrong”. But belief systems do have consequences. The total collapse of thr Canadian male has been costly, as we can see in the cheap money scandal that blew Canada down. Without even a peep.

#321 The Thing in the Basement on 04.15.12 at 8:54 pm

315 Cy

“The huge majority of us are working poor, sentenced to
a life in the service industry gulag”

Believe it or not Cy, there were adverts for trades (electricians, machinists, pipefitters, power ‘geers) in one of the local papers here on VI. “Traditional” good
paying jobs that boomers did.

Go for it and “work hard” like you claim you can.

#322 eaglebay - Parksville on 04.15.12 at 9:00 pm

#283 John Jacob Jingleheimer Schmidt on 04.15.12 at 2:44 pm
“And if Canadians are so against all that transpires within the boundaries of the U.S. boarders then please by all means stop traveling here. You won’t be missed. You aren’t even noticed in the first place until you start talking. That’s when it gets ugly.”
______________
You didn’t mean borders I’m sure.
That’s what you are in the US. A boarder. Suck up all you want.
Many Dutch people on the Island and I sure wouldn’t want one of them as my neighbour.

#323 45north on 04.15.12 at 9:04 pm

Mad Vlad: It was the anger and resentment from this attempt at a global boycott that provided the kindling for WW2.

it was the anger and resentment which prompted Germany to annex Austria, invade Czechoslovakia, attack and invade Poland, Denmark, Norway, Belgium, the Netherlands, France, attack Great Britain, attack and invade Greece, Yugoslavia and Russia.

and after a while it looked more like simple territorial ambition

http://en.wikipedia.org/wiki/World_War_II#European_occupations_and_agreements

#324 eaglebay - Parksville on 04.15.12 at 9:05 pm

#286 Fisc on 04.15.12 at 2:56 pm

That’s it. Ban freedom. Who cares what the other countries do as long as it benefits Canada.
Most foreign buyers are buying from Canadians and that’s good. It’s up to you to sell or to buy. The government should stay out of it. Socialist pr***.

#325 Randy on 04.15.12 at 9:10 pm

Will the Tsunami in the U.S. carry over into Canada ??

http://whatisthatwhistlingsound.blogspot.ca/2012/04/day-of-reckoning-for-congress-economy.html

#326 Cy on 04.15.12 at 9:12 pm

# 315

#327 Cy on 04.15.12 at 9:14 pm

# 315

What paper? Links please.

#328 eaglebay - Parksville on 04.15.12 at 9:17 pm

#303 Don on 04.15.12 at 5:03 pm

You mean Victoria, the rest of the Island isn’t quite as bad. Not so entitled and pretentious.
Get rid of the tree huggers and the NDP and you’ll see more jobs appearing and the economy improving over time. Same goes for the whole province.

#329 John G. Young on 04.15.12 at 9:21 pm

#321 John on 04.15.12 at 8:48 pm

I’m an addiction medicine physician.

Trust me when I say that your opinion of Gabor Mate is not shared by many of my colleagues, or by myself.

#330 eaglebay - Parksville on 04.15.12 at 9:27 pm

#315 Cy on 04.15.12 at 6:43 pm

You don’t have to work for anybody if you feel that you’re taken advantage of.
Now lets see, maybe start your own business and tell us how you’re doing.
It’s called free enterprise. Do you think that you have the smarts.
I invest in large corporations and my returns on my investments are not exorbitant. How about you conspiracy man?

#331 eaglebay - Parksville on 04.15.12 at 9:35 pm

#317 brainsail on 04.15.12 at 7:10 pm

Ran away from Canada, eh.
Couldn’t make it in your own country?
Tell me why there are so many Americans on Vancouver Island and the rest of the BC coast.
And, talking about taxes, you wouldn’t believe what the US government is doing to those people. Google it, just unbelievable.

#332 The Thing in the Basement on 04.15.12 at 11:27 pm

328 Cy – here’s the companmy that ran the advert

http://careers2.hiredesk.net/ViewJobs/Default.asp?Comp=catalystpaper&TP_ID=2&JB_ID=&LAN=en-US

What’s most ironic is these guys just shut down one of their large mills (Elk Falls, Campbell River) but it looks like they still need people.

#333 daystar on 04.15.12 at 11:34 pm

#321 John on 04.15.12 at 8:48 pm

I can’t say Gabor was never on my radar because I was aware of his running the only safe injection site in North America until Harper/Clement shut it down (which I believe was another bad decision of many but thats for another time and place). Gabor has big time been on my radar today, however. There is alot of video of him on youtube so it will be a while to familiarize myself fully with Gabor.

I have to say though, I am impressed. First impression tells me that Gabor is in an ongoing healing process that has already born him tremendous fruits and because he’s bookish… and writes… and is a powerful integrator and researcher, he is by no means done. At the very least even his critics should be impressed with his honesty in terms of talking about his own challenges in life (which sadly, some use against him) and thats huge because it helps the rest of us face our own personal challenges more easily when we know we don’t face our challenges alone and the connections he makes with stress and immune responses and the examples thereof… and that of early childhood development with nurturing being so important to genetic development early on…

I think his critics (like the critics of us all) expect one person to give all the answers when it takes a collective effort by many if not all of us all to see reality for what it is… and isn’t. Gabor is interweaving some profound themes here in the area of pychology and he comes back to this one over… and over… in this link:

http://www.youtube.com/watch?v=DLki68uLfjw&feature=related

#311 Smoking Man on 04.15.12 at 6:10 pm

Sweet. The above link might be good supplement, give it a go.

#334 John G. Young on 04.16.12 at 12:41 am

#334 daystar on 04.15.12 at 11:34 pm

“…I was aware of his running the only safe injection site in North America until Harper/Clement shut it down…”

I believe that the safe injection site in Vancouver is still in operation.

#335 getreal-tor on 04.16.12 at 12:44 am

#315 Cy on 04.15.12 at 6:43 pm

“””Tell me why would I work hard for some Corp or businessman that is just making money off my labor and paying me next to nothing? It’s not that I can’t work hard, I just won’t, the modern economy is just a giant scam.”””

Yes, of course, you are not spoiled Cy. Seeing as you want to live a meaningful life, can you tell me what that means to you? Are you going to go to Africa and help the starving children?

What your parents went through is called life and unless you were starved or deprived as a child, I think they did pretty well and you’ll maybe understand it one day when you have children of your own and life hands you lemons from time to time.

As for being sentenced to a life in the “service industry,” why not change? You have free thought, nobody forced or deported you into the gulags? Playing the emo victim and not taking accountability for your life and decisions isn’t going to propel you forward any faster.

#336 gtrz4peace on 04.16.12 at 2:56 am

#317 brainsal

I am an AMERICAN ex-pat. Left the US but I like both countries.

I have always maintained that Canadian news is even more propaganda than the US, so what was your point?

Oh and I was an election judge in the US for 7 years, so I know something about the US political system.

Also was in Grant Park when Obama gave his acceptance speech…

#337 TurnerNation on 04.16.12 at 6:44 am

This weekend`s weblog taught me a new word.
`De-nutted`. :-0

#338 getreal-tor on 04.16.12 at 9:49 am

#337 gtrz4peace on 04.16.12 at 2:56 am

Couldn’t agree more with you re: Canadian news being more propaganda than the USA.

#339 daystar on 04.16.12 at 10:51 am

#335 John G. Young on 04.16.12 at 12:41 am

News to me. I saw a presser of Tony Clements talking about closing it down last spring I think and assumed it was a done deal. I’ll look into it thanks.

#340 v on 04.16.12 at 10:44 pm

hey getreal-tor I would rather lose my security deposit rather then buy a house and lose mt shirt! lol
im in sauga and the crappiest places are selling like hot cakes!
Its so funny because in 08 when I was looking at places and ppl were scared to buy these houses were sitting for months
when it turns it turns ugly!

You lose more than your deposit. — Garth