Whatever

answers1

Since the financial meltdown of 2008, real estate’s been the asset of choice. In fact even earlier – with Nine Eleven – most people started falling out of love with mutual funds and tech stocks, and retreated to the property womb. Thus began the greatest housing boom in Canadian history.

But all booms end. And now that 70% of us own some, financed with an ocean of mortgage debt, real estate’s the new Nortel. Will 2013 be the year everybody gets squished when the elephant rolls over?

That depends on you.

Here are five housing trends to mull.

Pent-up demand. Not from buyers this time, but sellers. After all, last year brought new mortgage regs, tighter banking rules, slowing sales and the first negative media stories about real estate since the bust of the early Nineties. As a result, legions of sellers withdrew their properties rather than extending listings and risk getting vultched in a crappy market. As 2012 ended, there were nothing but pooches for sale in many neighbourhoods. It was like going to a retirement home  looking for action.

The drought ends soon. If the winter continues to be wimpy and warm, then Realtor Spring (the actual name of this season) begins on or about Sunday, January 20th. I’m anticipating a tsunami of new listings from sellers anxious for better prices who, ironically, will be hastening the opposite.

Mortgage moves. Rates will be higher in 2013, but not because the central bank wills it. Instead, the mighty and massive bond market will make it so, as money flows out of fixed income and into equities. VRMs won’t move, but fixed-rate loans will, and by enough to ruin the finances of many people with loans coming up for renewal in the summer and the fall.

So, deal with it early. Like now. If you have a renewal looming, go five-year fixed. Rates are still ridiculously cheap, and by 2018 they will look absolutely absurd. It’s an historic opportunity to lock in. Don’t blow it by going variable rate. And if your mortgage has a year or two yet to go, consider a blend-and-extend. This will drop the rate down in the remaining years and protect after that.

One more thing: don’t overpay your low-rate mortgage. It makes no sense to accelerate payments, shoveling your family cash flow into paying off a 3% loan, when you can invest the money in a balanced, well-managed portfolio for a few years making twice that amount. Then when the mortgage term’s up, dump the cash against the principal and trash the thing far sooner.

Condo tumble. Hardly news that Ottawa’s recent changes will blow up this segment of the market first. The numbers are already grim. In the GTA there are 6,000 resale condos listed, and sales last month crumbled by 25%. Over 17,000 units are new, yet vacant. There are 53,000 more in the pipeline.

The greatest damage here will be to the psychology of a whole generation of buyers who will see friends’ finances destroyed by their unbridled and naive horniness to ‘stop throwing money away on rent.’ Instead, they just lost it. The damage to real estate in general will start being felt late in 2013, and last longer than puberty.

Illiquidity. The mainstream media, as usual, will declare the housing market healthy so long as prices don’t collapse by a third. But what really matters is being unable to sell your home. In 2013 this’ll be the thing more and more homeowners lose sleep over as sales decline, buyers realize time’s their best weapon and days-on-market turns into months-on-prozac.

So if you’ve been thinking of selling, take the advice of realtors in Vancouver or Victoria – where illiquidity’s now a fact of life. Price aggressively from day one. Below recent comparables. Way below. The worst case is you’ll take a loss now, instead of waiting months for it. The best is you might find two competing idiots who didn’t read this. Reporters, maybe.

Finally, micro-markets. For almost four years real estate went up everywhere. Now it’s going down, but selectively. Hardest hit will be those areas where the largest proportion of people took on the most financing – and where the average home price is the greatest multiple of local household incomes. This is why Vancouver (average multiple 11), for example, will fall (and is) before Calgary (multiple 5).

All real estate is local, even though national events affect it universally. Of greatest import is supply and demand, and where demand is less affected by tighter mortgage rules, shorter amortizations or million-dollar insurance caps, expect a different outcome. People will continue to want areas people have always wanted. In other words, never buy just because it’s cheap. Chances are it’s about to get cheaper.

Instead, buy the worst house on the best street. And if you own that house, well, sell it.

193 comments ↓

#1 Nodebt on 12.14.12 at 10:05 pm

FIRST DELETED

#2 T-bone on 12.14.12 at 10:06 pm

Bullish on Oakville?

#3 george on 12.14.12 at 10:08 pm

You can be forgiven if you watched the Department of Justice’s announcement yesterday of a $1.92 billion settlement with HSBC with a sense of disappointment–and déjà vu. The event checked all the boxes in a theatrical routine that has become all too familiar.

Descriptions of breathtaking misconduct involving the facilitation of massive drug trafficking and transactions with rogue terror-sponsoring nations? Check.

Broad boasts about the “historic” nature of the settlement that will certainly end the type of criminal misconduct alleged? Check.

Mea culpas from the offending institution with promises that it has really learned its lesson this time and will never ever engage in dastardly conduct again? Yep, that too.

Nothing, however, was quite as it appeared. Sure, HSBC paid a record fine, but there was something vitally important missing from yesterday’s press conference: actual criminal charges for obvious criminal conduct.

Neil Barofsky: Too Big to Jail – Our Banking System’s Latest Disgrace

#4 JSS on 12.14.12 at 10:08 pm

Hi Garth,
I have a five-year fixed mortgage coming up for renewal in March 2014. I’m currently with RBC at 4.39%.

According to RBC, the costs to break the mortgage is approx $8,000. If I blend and extend, the new fixed rate will be 4.19%.

What do you suggest???

B&E is not the same as breaking the loan. Negotiate! — Garth

#5 T.O. Bubble Boy on 12.14.12 at 10:09 pm

What if the worst house on the best street is still $1.2M?

http://www.realtor.ca/propertyDetails.aspx?propertyId=12533969&PidKey=670345159

#6 mR b on 12.14.12 at 10:09 pm

1ST

#7 Maxamillion on 12.14.12 at 10:17 pm

Ka-Boomer!, it all Depends on you.

#8 Bottoms_Up on 12.14.12 at 10:28 pm

What’s up with the feds? They rent buildings for $10 million/yr, for 20 years, then own them:

http://www.tpsgc-pwgsc.gc.ca/biens-property/pc-cp-eng.html

It must cost far less than $200 million to build these things? Why do they go for such bum deals?

#9 Habsfan on 12.14.12 at 10:31 pm

Garth,
I hear the 70% home ownership stat bandied around regularly, but I haven’t been able to figure out who this 70% is referring to. Is it 70% of the entire population? 70% of people over 18? Could you shed light, please?

Households. — Garth

#10 Nemesis on 12.14.12 at 10:35 pm

“It was like going to a retirement home looking for action.” – Hon. GT

FunnyOldWorld

http://tinyurl.com/7kfnzrm

#11 Nodebt on 12.14.12 at 10:40 pm

Hi Garth, smoking man and I had to much
Whiskey last nite and he was egging me on to
Post some comments, so what do you think of my
Question I asked you last nite regarding the cpp?
Thanks Garth looking forward to your response !

#12 TurnerNation on 12.14.12 at 10:44 pm

Is there another weblog – in the world, where people post “first”? Or none so pathetic?

#13 Richard on 12.14.12 at 10:49 pm

Hi Garth,

I’ve got a VRM @ 2.25 and it’s up for renewal in September. Thoughts?

Thanks,
Richard

#14 Dave the dentist on 12.14.12 at 10:50 pm

Can someone explain, or point me in the direction, about why and how bond market can cause the mortgage rate to shoot up? The best answer I can come up with is that overseas bond buyers will see the RE bubble bursting, dumping the Canadian bonds in their hands or demanding higher interest rate, thereby driving up the mortgage rate, correct?

No. Explained several days ago. — Garth

#15 No Name on 12.14.12 at 10:51 pm

Garth, no continuation from “the fallout”?

When you least expect it. — Garth

#16 Ralph Cramdown on 12.14.12 at 11:05 pm

What if the worst house on the best street is still $1.2M?

It sits on the market for six weeks and the seller, who got plans and permits before getting cold feet, wonders whether to pull it for the holidays and give it that daisy-fresh new listing smell in January, or just let it rot and hope for a lowballer?

#17 espressobob on 12.14.12 at 11:11 pm

Great day in America? Can’t help but share the pain. Hopefully the rest of us can forget our problems over the holidays & enjoy all the great things our country has to offer, like gun control! Now back to the JD.

#18 Dave the dentist on 12.14.12 at 11:16 pm

Got it, it was explained in “Bend and Extend” post. Thanks.

#19 coastal on 12.14.12 at 11:29 pm

Keep spreading the good word Garth, the few that grasp it will thank you later. The masses who poo poo you will soon eat it in spades. There is a major credit squeeze going on out there that most are clueless about. Many a junior company can’t even raise $1 million right now on a viable deal when two years ago you could get $3 million with a fancy presentation and some free drinks. It’s worse than 2008.

A friend of mine just told me about two mega millionaire associates that have just gone bankrupt, and one was worth over $100 million and the other close to it. One or two bad financial decisions can sink a ship in a heartbeat. Don’t believe the sheeple who are maxed out can avoid the inevitable when the friendly banker comes knocking….and the banker is never friendly on the way down.

#20 bopeep on 12.14.12 at 11:30 pm

Today met another guy who said ” Not a good time to sell right now. I’m waiting till spring, or maybe summer to put my house on the market.” This phrase is as common now as “good morning”, “hi. how are you?”

#21 Uki on 12.14.12 at 11:31 pm

To #17 espressobob:
You just didn’t get it, “gun control”.
One don’t need a gun http://www.cbc.ca/news/world/story/2012/12/14/china-knife-attack-school.html

#22 Jim on 12.14.12 at 11:39 pm

#3 george,

Yes, shocking decision to let HSBC off the hook when it knowingly colluded with members of drug cartels to break the law.

That’s the system, unfortunately. There are different rules for the rich, famous, well connected or entrenched. They know quite well they could jail execs without threatening the ‘stability’ (cough cough) of the financial system. (Said system cannot be described as stable when it requires massive infusions of cash from innocent parties in order to kept companies solvent).

One might even wager that drug profits are somehow important to the bottom lines of major corporations. Senate intelligence committee reports speak of this, and it fits with the history of intelligence agencies participating in the drug trade.

#23 InvestX on 12.14.12 at 11:46 pm

“Rates will be higher in 2013, but not because the central bank wills it. Instead, the mighty and massive bond market will make it so, as money flows out of fixed income and into equities.”

Garth, what’s different this time that makes you believe your prediction will come true this time?

Wait and see. — Garth

#24 Bucky on 12.14.12 at 11:49 pm

Garth, what in the definition of “normal” do you find the USA fed printing 85billion per month?

#25 Hoof - Hearted on 12.15.12 at 12:01 am

BBC – Why I Hate The Sixties (2004) [part 1 of 6]

http://www.youtube.com/watch?v=0bPiJWCm0FE

===================================

Parts 2 and 3 are particularly intriguing….how Urban Planners got out of control….and yet we still HAVE NOT learned from history even 40 years later.

Same Turd ……..different pile….

#26 AllBull on 12.15.12 at 12:08 am

The Canadian real estate party is over, and whomever was the most drunk will have the biggest hangover!
Toronto and Vancouver will have big headaches when everyone wakes up….

#27 jay on 12.15.12 at 12:16 am

Thanks for the advice, Garth.
My variable mortgage is due in two years. It is too big to fail, so I stay put.

#28 Burnt Norton on 12.15.12 at 12:18 am

#21 Uki on 12.14.12 at 11:31 pm

Really? Moral relativism? Little kids got shot and stabbed, Uki. Little kids.

Why anyone other than soldiers and cops needs a gun is totally baffling to me. So sad.

#29 james on 12.15.12 at 12:20 am

great article tonight, well presented and definitely logical. thanks again for the efforts you put into this site

#30 FYI on 12.15.12 at 12:32 am

Prices of Homes were higher as per yesterday report. Not sure why.

CBC documentary : MELTDOWN

http://www.youtube.com/watch?v=lXfnHM9QBjk

#31 Canadian Watchdog on 12.15.12 at 12:37 am

“Rates will be higher in 2013, but not because the central bank wills it. Instead, the mighty and massive bond market will make it so, as money flows out of fixed income and into equities.”

NGDP targeting won't work if that's what you're thinking.

#32 Victor V on 12.15.12 at 12:37 am

http://www.thestar.com/business/article/1302055–developers-of-toronto-s-trump-hotel-to-seek-750-000-in-damages-from-disgruntled-buyers

Developers of Toronto’s Trump International Hotel and Tower have served notice they plan to sue buyers trying to flee the ill-fated hotel-condo project.

In a statement of defence and counterclaim filed with lawyers for the buyers, but which may not yet be filed with the courts, Talon said it’s seeking $750,000 in damages from disgruntled buyers who’ve launched a multi-million lawsuit against Talon and Donald Trump.

They also plan to seek court approval to seize deposits averaging more than $175,000.

“Talon intends to continue to work with the large number of purchasers of hotel units who have demonstrated that they intend to comply with their contractual obligations to Talon. We are very happy to be moving forward with bringing our excited buyers into the fold as owners of an asset they’ll be proud to own for a long time,” says a spokesperson for Talon.

===========================

Pass the popcorn.

#33 Ravishing Rick on 12.15.12 at 12:48 am

I thought that today would be a continuation from yesterday!

#34 Victoria Tea Party on 12.15.12 at 12:49 am

USA: WORLD HQ TO THE ULTIMATE SIN

Friday’s massacre of 20 innocents marks a true “moral” low point in a series of other recent mass shooting low points that spells eventual disaster for the sicko United States Empire.

What other death-dealing craziness lies next down their road to richly-deserved oblivion?

I don’t know whether to be frightened out of my wits or feel some sort of “happy” because I’m witnessing the greatest civilizational train wreck of recent world history, in the hopes that something “better” will emerge.

As a parent, grandparent and just a regular chap, I cannot imagine the pre-Christmas grief that the families of these 20 darling children must be trying to endure. Nor can I understand that, by now, why haven’t Mr. and Mrs. America gone completely nuts on the gun lobby and their political lackies.

Empirical decline generates lots of victims including many of the “home crowd.” From the wrongfully convicted to the wrongfully evicted, we now see the wrongfully murdered by a 20-year-old nutbar, himself probably a victim of some slip-through-the-cracks social welfare officer in the town where he used to live.

Friday’s massacre was of such obdurate significance and obscenity that none other that the Pope, for crying out loud, wrote a letter to the victim’s loved ones expressing his condolences. Do any of you out there understand the significance of that?

You damn well better.

In response to this deadly escapade by this young unfortunate, whose weapons belonged to his mother (!) whom he also wasted (!), the gun lobby freak show is out in full force blathering the usual canards. You know what they are: civil rights to bear arms, protecting familes, and so on.

Remember the Aurora Colorado shooting earlier this year? The gunners bleated that if everyone in that movie theatre had guns they would’ve killed the “bad” guy and saved many lives.

I wonder if the NRA has the guts to say if only those 5- year-old kindergarten kids had been armed they would’ve saved there lives, too?

Wait for it, or something equally stupendous.

As you spend your weekend looking at CNN and you see American politicians grinding on about how terrible this event was, remember that way too many of them have been bought and paid for by the “lobby”.

Therefore the USA has descended into the level of countenancing child abuse on a truly deadly scale; the ultimate sin.

A society that elects pliable politicians is in very bad shape, and is not long with us.

#35 Oakvillian on 12.15.12 at 1:19 am

>> Instead, the mighty and massive bond market will make it so, as money flows out of fixed income and into equities. <<

How come that has not happened for the last 4 years ?

#36 Nostradamus Le Mad Vlad on 12.15.12 at 1:29 am

-
“Thus began the greatest housing boom in Canadian history. But all booms end. Will 2013 be the year everybody gets squished when the elephant rolls over?” — ‘Twas a nice run while it lasted. esp. for those who bought, did the place up nicely and sold for fat profits.

2013 and on may prove to be difficult for boomers to cash out. Seems young folk have turned away from the home ownership dream, instead focusing on renting while building up a nice nest egg for later. They are the smart ones who won’t need lottery tickets.
*
Green Energy is damned expensive, and is what Obomba is bringing to the US; Pay Cheques No one knows what to do with the fiscal cliff charade, so folks pay checks are up in the air; China’s JF 17 Nice fighter jet and cost-efficient; Putin bringing home the bacon, but US corporations dodge tax; Employment Demographics by age; Hotel California printing by the US Fed.; Cdn. Friday links; SNC – Lavalin Remember them? Freedom 68 Anything is possible; Gold “For the last 40+ year, the world has used un-backed paper money and attempted to discredit gold.” One reason why the west trashed Libya; Roubini Garth may be right.
*
Autistic “A source told The Post Ryan has told investigators he last saw Adam in 2010 and that Adam is autistic.” and here and which leads to this. Guns are not the problem — big pharma’s drugs are, but see here — 0:37 clip Police brutality? Cops shoot man in his own yard. Where was the m$m on this? Fukushima depop.; Good Advice from a drawing; Micro Mutt Definitely not human; Stupid Food which NAmericans eat lots of; France and England haven’t been at war in a few centuries, so they’re overdue for one; Hobbit Forming Tour of middle-earth locations; Killer waves or tsunamis under study; Map Palestine and the illegitimate state of Israel; No Fracking except the UK; 0:46 clip Ear of the tornado.

#37 Dr. WAYNE on 12.15.12 at 1:32 am

#1 Nodebt on 12.14.12 at 10:05 pm

FIRST DELETED
=======================

CORRECTION :

FIRST DELETED A$$HOLE

#38 Mr Buyer on 12.15.12 at 1:34 am

#34 Victoria Tea Party on 12.15.12 at 12:49 am
………………………………………………………………
There is some place in Texas in which the teachers at school carry side arms. The story is from a year or two ago at least.

#39 Oakvillian on 12.15.12 at 1:48 am

Oakville is toast. No sales. Zilch. mwahahhahaha

#40 NFN_NLN on 12.15.12 at 1:56 am

#28 Burnt Norton on 12.15.12 at 12:18 am

Why anyone other than soldiers and cops needs a gun is totally baffling to me. So sad.

In your make believe world of candy canes and unicorn farts why are there even soldiers and cops? Doesn’t everyone just get along?

#41 Mr Buyer on 12.15.12 at 2:01 am

There is still a hint of buyers mulling around on the sidelines. I am guessing there are fewer and fewer qualified buyers going forward.

#42 Interesting Times on 12.15.12 at 2:12 am

A very hard landing is coming for many, make sure you protect yourself!!!

HGTV Virgins get out there and start low balling these realtards by 50 percent. Don’t waste your time going to open houses when you could just sit on the MLS and low ball these used car salespeople by email. Get out there and get your revenge. Show them that you are not as stupid as the show protrays you!

– Europe already in recession/depression, Japan and US right behind them. This will have a negative feed back loop across the global economy.

– jobs being lost everywhere and the Canadian economy is slowing down. Watch BNN and learn about the layoffs happening everyday or just read the business section it is all there for you my virgins. Educate yourself!

– austerity starting already in Canada. Many in government jobs will be bye, bye.

– manufacturing jobs have moved to Asia and back to the US. Canadians can’t compete with the New America where the factory worker now makes $12.00 an hour and can buy a nice home for $100,000K. You are so screwed in Canada!

– 70% of CDN living pay cheque to pay cheque and have no savings and over 70% have no pensions

– 60% of boomers 60 years and older entering retirement in a shit load of debt. Also, a lot of these boomer fools co-signed for their kids $800,000 Mc Mansions. The banksters will wipe the floor clean with both the kids and parents after this 50% RE Crash when they both lose there homes!

– empty condos being built everywhere and will be going for 50% off soon. HGTV Virgins will be crushed!!! Many HGTV Virgins are going bankrupt at Trump Towers, what happened to RE only goes up?

– empty homes all over the MLS, can you say power of sales have started, soon 50% off will be coming to Canada

– for lease signs everywhere in business districts and commercial areas, I guess business has moved out of Canada

– Canadians are 164 percent in debt! More than the US, Ireland, Spain , and UK when they had there RE Crash.

– Over 8 months of dropping RE sales. Next thing to drop will be prices by 50%.

– over 70% of mortgages in Canada are 5% or 0 down CHMC mortgages. Can you say high risk and backed by the taxpayer. When this baby blows up kiss your social services good bye. This is what the in action plan looks like. We supported our banks with free taxpayer dollars to give out loans to people with no money creating a RE ponzi scheme 10 times bigger than the US, Spain, Ireland etc.

– And remember a home is only worth what a buyer will pay.

– the realtards, brokers, banks and builders are in full out panic

The 50% crash is here my virgins. Get out there and start low balling as the time is now for your revenge. Don’t sign up for bank slavery like the other 70% of the virgins in Canada. They are screwed for life now as they were sold the Koolaid by the RE industry!

Garth thank you also for the great public service you are providing for all the HGTV Virgins out here!

#43 Observer on 12.15.12 at 2:34 am

Pushing through the melting equity will come green chutes of affordability for a new generation of young Canadian families.

#44 earlymidlifecrisis on 12.15.12 at 2:53 am

Great post tonight. Now you’ve got me thinking. Re the accelerated payments; would you still suggest that if by doing so i could pay the mtge off in the next 5 years? I have a brand new 5 year 94k mtge. Hmmm im going to sleep on that.

#45 cynically on 12.15.12 at 3:14 am

The result in the HSBC case is just further proof of the inadequacies of the Canadian judicial system. Whether it is the petty thief with many street infractions, the white collar confidence man bilking seniors, the young gang member with a gun or the respectable pillar of the financial world, they all get the lenient treatment of our courts and by the latters’ decisions, put us all at risk again and again. When are the weak-willed Canadian people going to demand some protection?
#34 Victoria Tea Party – in total agreement with your posting. One of the terrible failures of the American system which does have a lot of positives although many Canadians haven’t found them yet and one of them is their determinaton to turn the country around despite all the current political posturing. Right Garth?

#46 NRA-holes on 12.15.12 at 3:55 am

#21 Uki on 12.14.12 at 11:31 pm
————————————————————–

Hey Uki, did you even read the link you posted? You do realize that it validates espressobob’s opinion, right?

Knife: 22 injured. 0 dead. Most didn’t even need hospitalization

Gun: 27 dead.

If you were in that school would you have wanted the attacker to have a knife or a gun?

#47 Soylent Green is People on 12.15.12 at 4:04 am

Why should cops and soldiers have guns? They are just state sanctioned serial killers, paid to animate that uniform.

I’m not against the police; I’m just afraid of them.
Alfred Hitchcock

More Alfred Hitchcock Quotes

7

………

Harper met with about forty gun lobbyists in Ottawa, he ruined the long gun program that 99% of police chiefs wanted to keep, the gun culture is setti g up shop here. Hide yo kids.

O
O

#48 Buy? Curious? on 12.15.12 at 4:21 am

Garth, when will you be receiving the Order of Canada?

Imagine, it’s easy if you try.

http://www.youtube.com/watch?v=3ntnyl_h4UM

#49 Dragonslayer on 12.15.12 at 4:27 am

Guys, let’s show some respect and not make comments about gun control on this blog today. Its not the time or place right now. Its a valid debate but not now. Instead we should hug our kids and think of the poor families in Connecticut.

#50 Jane24 on 12.15.12 at 4:53 am

Too right about a flood of listings in the Canadian Spring.

I don’t even live in Canada but have friends and relatives listing in the Spring because the price is always higher!

Higher or lower, since they are all buying again it doesn’t really make that much of a difference but I guess every human wants to sell high and then buy low.

#51 Asse on 12.15.12 at 4:56 am

Can’t stand guns. Can’t stand people that feel empowered by owning/shooting them. Absolutely no reason for civilians to own hand guns/semiautomatics. I just wish our own government would make the penalties for just possession of those types to be so ridiculous that for the most part they would disappear from our streets. Worked in parts of Europe where possession is an automatic 15-25 years..no pussyfooting around.

#52 house burden on 12.15.12 at 5:33 am

Prices of Homes were higher as per yesterday report. Not sure why.

CBC documentary : MELTDOWN

http://www.youtube.com/watch?v=lXfnHM9QBjk
================
Great documentary I like the 4th video where it says the recovery is basically funded by more debt.

Also the part where is mentions the real estate ponzi scheme was like a game of musical chairs. Once the music stopped everything died.

http://www.youtube.com/watch?v=h3VgY1_PzUs

#53 Freedom First on 12.15.12 at 6:15 am

Garth, I have started meeting flippers who have moved into the unfinished basements or their house rental, only 1 of 3 they have left. Sold 1 in time to get out without losing much, got hurt on the other? Wouldn’t say how much. Sold 1 other, broke even? whatever that means….less costs? However, waiting for prices to rebound in the spring, as would lose money on all 3 to sell now. OH, and the basement they moved into, had to build a bathroom before moving in, and nothing else done yet. They said it was clean though. Life in the fast “all in” lane. Man…..fear and greed will kill ya every time.

Loved your post Garth. There will be blood. And more and more people writing you to ask for help in how to “get out of Dodge” I’m sure. As per usual, people who are balanced, diversified, and liquid….with cash and cash flow will be gorging on every description of great deals. You know, the non-herd followers. Financial illiteracy leaves people to get screwed by elfin Deity’s , C’s and H policies every time. Ans yes, there is lots of people, like Garth and others, who warn people, but RE lust, lust, and MIL’s and peers, the MSM, are powerful and unknown at the time, adversaries to financial freedom. Sad. Greed, lust, fear, envy and ignorance…..all life destroying.

#54 JB on 12.15.12 at 6:16 am

Seems theres 1,000 “A-1 Bobcat Services” in Saskatoon, they’re the first to tumble before housing does… I’ll get the good word long before the 12% decline hits here…. Doubt we’ll drop any more than that, it just purely isn’t my luck…

#55 Regan on 12.15.12 at 8:18 am

The advice to buy the worst house on the best street has been a favourite of realtors for a while, it seems. I listened to it when I got my house. Let me just amend… buy the worst house on the best street that you can afford minus $100K for renovations. Otherwise you spend the next decade living in the worst house.

#56 Tony on 12.15.12 at 9:16 am

The multiple can’t be 5 in Calgary. It’s 3 in Edmonton and Calgary is priced around 20 higher than Edmonton so the multiple would be around 4. Money will continue to flow out of equities and into long term bonds as America slips back into recession next year. I’m looking for something known as the penultimate sucker that is someone waiting for a resolution to the fiscal cliff and jumping in 100 percent into equities. This would be the most likely for the stock market to crash and resume the long term bear market.

Wrong on all counts. — Garth

#57 polecat on 12.15.12 at 9:44 am

It is still comparible for me to own VS rent on outskirt of HRM. Mortgage and taxes 1050 a month for 3/4 acre with garage. Rent something like this is 950- 1100 or more, I don’t mind the ups and downs, but still worried for greater pop of Canada.

#58 Hoof - Hearted on 12.15.12 at 10:42 am

Gun control…?

Nah….just lock up all males….that’ll solve the problem..we get blamed for everything else.

I was listening to a sports talk show, 1040 here in HAMville, and the hosts actually felt supportive of gun control…what a bunch of clueless girlie men.

#59 Bigrider on 12.15.12 at 10:46 am

” Recency bias” will to continue to drive people to buy houses and condos and continue to sell financial assets.

#60 Uki on 12.15.12 at 10:51 am

To #46 NRA-holes :

I am not going to argue with you what is worth.
Guns don’t keel people. Period.

Quick search ( sorry China ): 21 dead http://en.wikipedia.org/wiki/School_attacks_in_China_%282010%E2%80%932011%29

#61 Tony Right on 12.15.12 at 11:43 am

Thanks again Garth for all your work on this blog!

#62 Austrian school on 12.15.12 at 12:05 pm

If one of those teachers, or the janitors, or a visiting parent, or the mailman, or the plumber, perhaps the electrician, even the cafeteria lady was a law abiding trained gun owner and allowed to carry, this and many other of these type of situations would have been much different. The day the United States looses its right to bear arms, then the collapse will have left the realm of tin foil conspiracy to absolute certainty.

Go away. — Garth

#63 saskabush on 12.15.12 at 12:37 pm

i am a contractor in saskatoon.and i have think we are going to see a huge slow down this year . first off talking with a couple builders and real estate agents . nothing seems to be selling . i personally have watched several townhouse projects ,) which i did the work on ). see some price reductions , one in particular a set of duplex , semi detached . when the project started they where going to hit the market for $459,900 he is down to $415,000 per side and he tells me not 1 hit on them. not even a low offer.

we sold our house i think we might sit on the sidelines for awhile and wait , we have put some lowball offers on a couple , but in all fairness houses are too high way to high . looking at complete entry level dumps and all $250,000 for a shit shack that needs everything .should only be worth $150,000 to $175,000 ,
we are sitting on about $500,000 cash now so want to invest , but lost some money in stocks last year so not sure what is best , i no i here reit’s and etf’s but it is very risky .
if anyone has any commments
thanks

#64 Paul on 12.15.12 at 12:55 pm

I’ve been on the mailing list for a local Toronto realtor since 2007 and this is the first time I can recall the email using the word “reduced” to advertise homes for sale.

An email with the title of “Reduced Hot New Prices!” is a sign of something, right?

#65 City Slicker on 12.15.12 at 1:02 pm

Garth I think you had a blog on how Canadian RE was being securitized, the way sub prime mortgages were in the US. Did you still have a link to that? Or am I confusing the subject matter. I’m building a case to convince someone who is buying the Canadian RE mafia nonsense.
Thx!

#66 Canadian Watchdog on 12.15.12 at 1:08 pm

Drug overdose death rates in the US have more then tripled since 1990

Guns aren’t the problem. It’s the drugs. Pharmaceutical companies don’t want people to know that and will spend a lot of money to keep a lid on it.

Maybe Americans are depressed because morally superior Canadians keep crapping on them. — Garth

#67 TurnerNation on 12.15.12 at 1:16 pm

Being poor in Canada means you have unlimted access to health care and education up to Gr 12, are statistically overweight/obese, with enough each month for full Cable TV, high speed internet, lottery tickets, smokes, booze, cell phone.
The cell phone is a must! What if an employer should need to call you? Cause you just Want to Work but the Man is keeping you down.

#68 TurnerNation on 12.15.12 at 1:48 pm

Rouge McMansion not selling:

Guava says it was at (hellava drop):

$1,988,800.
$1,950,000
$1,798,000

For Sale: $1,650,000

http://www.realtor.ca/propertyDetails.aspx?propertyId=12579921&PidKey=-1562761883

#69 Phil Indablanque on 12.15.12 at 1:49 pm

#28 Burnt Norton

This is Canada. Have you ever heard of hunting?

#70 Grim Reaper/Crypt Speculator on 12.15.12 at 1:53 pm

Old Man and Smoking Man are walking to the washroom.

Once inside they see Dr Wayne staring in the toilet.

In the toilet is 25 cents.

Dr Wayne tries to be funny and says “I’ll be that toilet has seen more A$$holes than I have “.

Then Smoking Man throws a $1 into the toilet.

Then Old man grabs both the $1 and the 25 cents.

Dr Wayne asks “Why did you do that?’.

Old Man says..” You don’t think I’d stick my hand in there just for 25 cents ….do you ?

#71 Ronaldo on 12.15.12 at 1:53 pm

#42 Interesting Times – ”empty condos being built everywhere and will be going for 50% off soon. HGTV Virgins will be crushed!!! Many HGTV Virgins are going bankrupt at Trump Towers, what happened to RE only goes up?”

ALREADY HAPPENING……see link below

http://www.livinginregina.com/Blog.php/50-off-condo-sale

#72 DonDWest on 12.15.12 at 2:03 pm

Buy the best house on the worst street that’s about to be gentrified in five years. . .

#73 Old Man on 12.15.12 at 2:10 pm

I got a call from a huge Real Estate Developer the other day who is stuck on one large project, and asked me to buy a condo as an investment to rent out. Imao, as he is worth $200 million, as is not hurting at all just looking for a sucker. I said you at great cost brought in the sign experts to lower the price a few months ago, and he was shocked that I noticed this all, and hung the phone up on me because said write it off at cost, and save your ass.

#74 45north on 12.15.12 at 2:16 pm

Austrian school: If one of those teachers were allowed to carry, this would have been much different.

it’s more than allowed to carry, you need to be psychologically stable, physically fit, continuously in training and actually carrying. Ready to lay down your life. Such people can be citizen volunteers as well as paid police.

#75 Joe on 12.15.12 at 2:17 pm

A recent study conducted in the USA determined a rise in vehicular deaths is due to disguised suicides aimed at providing the intended with benifits.
Should cars be banished?
To penalize the greater because of the acts of the lesser is unfair.
It’s horrible that these kids were murdered but do you hear about the millions of children that starve to death every year on msm.
Why do most people only care when it hits close to home, thats the bigger question.

#76 hangfire on 12.15.12 at 2:21 pm

F didn’t really think the stimulus emergency rate program through….he has created more fires than just the real estate bubble…..he now has the consumer debt bubble….it has just been reported that personal indebtedness has reached 167% of disposable income….in a place like Vancouver where shelter consumes 85% of pretax income there is a volcano building under the retail market set to explode. Interest rates simply must increase…there is no option…..evidently people have zero ability to control their covetous greedy aquisitiveness. It looks like a majority of people have lost all perspective on debt….it appears that spending has become another entitlement addiction.

But whats going to happen while the real estate bubble deflates…..economists will tell you that people will substitute….well with auto loans now in 6 figures and credit cards debt maxed out …what other industry is there for the economy to rely on? F has to crush the banks loaning on auto’s….but that is going to piss the Ont unions off big time….look for more than a malaise in real estate come the spring time when F’s pandora’s box explodes in his face. He has to do something…we are nearing the mid point of the majority…..soon we’ll have to start campaigning again…the NDP will try to sell themselves with handouts to the newly poor like Obama did…..Harper has to get ahead of the debt tsunami now.

#77 Huj Kok on 12.15.12 at 2:25 pm

I get it, guns don’t kill people, people kill people. It is like my toaster. Toasters don’t toast toast, toast toast toast.

#78 45north on 12.15.12 at 2:30 pm

Freedom first: said that he knows flippers who have moved into their unfinished basements. They are totally committed to the real estate they own.

good post

#79 Old Man on 12.15.12 at 2:30 pm

I now feel bad about trashing this Real Estate Developer, as the son took over from the dad, and own about 30 AAA commercial and residential towers. The son did well, as took a track of land bought decades ago free and clear, and built in the last 7 years 11 AAA rental apartment towers. Now he rolled the dice in the past 2 years with condos, and is stuck with one as there are no buyers, so told him to write it off at cost to get out, ie: lower the price to blow them off. No reason to hang up the phone on me, but he was pissed off. Oh well, have done it before, and will do it again.

#80 Burnt Norton on 12.15.12 at 2:36 pm

#40 NFN_NLN on 12.15.12 at 1:56 am

So funny. Laugh it up. So funny.

Ya, in my world people get along.

Unlike yours, I guess.

#81 wes coast on 12.15.12 at 2:38 pm

Spoke to a collegue who got caught up in the 0/40 scam and is facing renewal she can’t afford. Her strategy is to wait for the spring. Not overwhelming proof of what Garth speaks of but proof that this is a strategy that some people are relying on.

#82 Berniebee on 12.15.12 at 2:42 pm

Re: Gun Control (Seen on a bumper sticker.)

“Toasters don’t burn toast. People burn toast.”

Americans have accepted these semi-regular massacres as the price to pay for “freedom and security.”
There is an upside. Like many Canadians, I’m SO polite when I visit Florida. In fact, the state’s concealed weapons program has made me an ardent Miss Manners fan. But I digress.

Yesterday, I got my first cold call in a long time from a REaltor. He asked if my house had sold. (It had sold in June using Grapevine, a local Ottawa DIY RE website .)
Then he asked, “Do you know anyone who is interested in buying or selling in this wonderful market?”
He used the word “wonderful” without sarcasm. I spit out my tea and a come back escaped me.
Gotta be tough out there for realtors. Be gentle with them.

#83 Timing is Everything on 12.15.12 at 2:49 pm

#31 Canadian Watchdog

Garth from yesterday – “It’s becoming more clear who to blame. Carney for four solid years of emergency interest rates, for sure.”

…But Carney’s the sexiest monetary policy nerd rock star on the planet, apparently…Sea change?

‘Carney gave a speech this week, wherein he talked about the sexiest idea in monetary policy, and the holy grail of the new school of policy nerds: NGDP targeting.’

‘You have an incoming monetary policy rock star (Mark Carney) exploring the bold idea of the central bank pursuing a policy where it targets a level of total output, and you have a Treasury that may be supportive of him, and can change the mandate of the Bank of England very easily.’

http://tinyurl.com/cym8vz7

http://tinyurl.com/d9tzltc

#84 LEO on 12.15.12 at 2:56 pm

#60 If you bound somebody and allowed a killer to kill the victim, then you are also guilty in that person’s death. The guy allowed the killer to kill the victim so the gun is also guilty.

#85 AK on 12.15.12 at 2:57 pm

#56 Tony on 12.15.12 at 9:16 am
“America slips back into recession next year. I’m looking for something known as the penultimate sucker that is someone waiting for a resolution to the fiscal cliff and jumping in 100 percent into equities. This would be the most likely for the stock market to crash and resume the long term bear market”

The US will not slip back into recession next year.

Enough said.

#86 LEO on 12.15.12 at 3:02 pm

#60 If you bound somebody and allowed a killer to kill the victim, then you are also guilty in that person’s death. The GUN allowed the killer to kill the victim so the gun is also guilty. THE GUN BOUNDS THE VICTIM IN FEAR UNABLE TO ESCAPE AND ALLOWS THE KILLER TO KILL. GUILTY! GUILTY!

#87 Rain bird on 12.15.12 at 3:06 pm

Garth,
What do you think about investing in ABCP? Do you offer this type of investment?

#88 Canadian Watchdog on 12.15.12 at 3:20 pm

Maybe Americans are depressed because morally superior Canadians keep crapping on them. — Garth

This is a global issue and the same story again with a hidden cause.

(Australia 1996) Port Arthur Massacre – The shooter, Martin Bryant was on anti-depressent medication and receiving psychiatric treatment.

(United Stated 1999) Columbine High School Massacre – Eric Harris and Dylan Klebold both took anti-depressants. Eric Harris was under treatment for psychosis psychiatric depression.

(United Stated 2007) Virginia Tech Massacre – The shooter, Seung-Hui Cho taking anti-depressant medication.

(Norway 2011) 2011 Norway Attacks – The shooter, Anders Behring Breivik was under treatment for paranoid schizophrenia.

(United Stated 2012) 2012 Aurora Shooting – The shooter, James Eagan Holmes was receiving mental health treatment and dosed up on prescription drugs before the killing.

(United Stated 2012) Connecticut School Shooting – The shooter, Adam Lanza was autistic and had a personality disorder. Soon enough, we'll find out if he too was on medication or under treatment.

———

Now check any major news outlet (whose top advertising clients are pharmaceutical companies) and see if you find any reports correlating mass killings to psychiatric disorders and medical prescription drugs. You'll find none. But if one does their own research on independent or local news outlets, you'll find something like this:

Bloomington doctor's license revoked

INDIANAPOLIS (WISH) – A Bloomington pain clinic physician's medical license was revoked on Thursday.

Dr. Kamal Tiwari's license to practice medicine was revoked by the Indiana Medical Licensing Board after a licensing complaint was filed by Indiana Attorney General Greg Zoeller's office. Tiwari was sentenced in Sept. to 3.5 years in federal prison for prescribing addictive pain medication to unknown substance abusers and committing health care fraud through Medicaid reimbursement for medically unnecessary procedures, according to a release.

Doctor’s license suspended

A pain management physician who was a tenant at Marion General Hospital was recently suspended pending an investigation by the Attorney General’s Office.

The Indiana Medical Licensing Board accepted an agreed summary suspension of Dr. William Hedrick, president and owner of Centers for Pain Relief in northern Indiana, for what it called “inappropriate and dangerous prescribing practices,” according to a news release. The doctor agreed to the suspension, which will last until Jan. 24, when the board will meet again. Meanwhile, the Attorney General is working on a formal licensing complaint. Once filed, the board can determine if any

NH doctor agrees to lose license for 5 years

Earlier this year, the New Hampshire Board of Medicine suspended the license of Dr. Mark Weinreb of Franklin. He was accused of prescribing a teenager more than 2,000 pills over 11 months. Weinreb said he prescribed two a day and the teenager did not have all the pills at once.

The board said another patient was prescribed more than 1,200 pills over 10 months. Weinreb said he prescribed one pill a night.

And many many more…

———

Oh ya, it's the gun's fault.

#89 jess on 12.15.12 at 3:31 pm

#3 George relax it is called capitalism!

•Multinational tax avoidance via tax havens corrupts markets, tilting the playing field in their favour.
•Tax avoidance helps multinationals out-compete their smaller, more locally based rivals on a factor – tax – that has nothing to do with genuine economic efficiency and productivity – and everything to do with extracting wealth from other taxpayers elsewhere, including their competitors.
•Tax avoidance is effectively a way of extracting tax subsidies that aren’t available to others.
•As a result of the killing of smaller firms, competition is reduced in the market, and the big become bigger. Oligipolistic and monopolistic market power, and the economic rents that flow from them, increase. Consumers pay more.
•As a result of all this, inequality is increased, which we now know poses long-term threats to economic stability.
•Tax avoidance helps multinational firms free ride off societies, helping them take the tax-funded benefits from society then getting others elsewhere to pay for it.
•Tax avoidance is particularly hard on developing countries, which don’t have the skilled technicians able to counter the devious offshore arguments of the armies of tax advisers that multinationals employ.
•Navigating the complex seas of tax avoidance costs a fortune in fees paid to these same highly educated tax advisers and lawyers and the whole private infrastructure of tax havens. This is a huge cost to society: efficiency goes out the window.(tax justice network)

#90 TRT on 12.15.12 at 3:38 pm

Housing may or may nor fall.

Also, here is the official data to back up the claim that it may not fall as much as some think. For 2012, we are on track for 274,000 Permanent residents being admitted. That is more or less our historical average and is great for the country! What is not great is Temporary workers….Either admit them Permanently and treat them like Citizens from day 1, or don’t admit them at all. No need to create a second class citizen here in Canada like Saudi Arabia!

And lastly, 1,007,117 ( yes 1 Million+ ) Applications received for temporary residency for the first six months of 2012. Do the Math. Still don’t think that will affect housing demand?

http://www.cic.gc.ca/english/resources/statistics/data-release/2012-Q2/index.asp

#91 jess on 12.15.12 at 3:39 pm

bernie bee
gun groupies will simply say: oh look they will use knives! ij prefer the shoe idea

China concern over school attacks
A man with a knife has wounded 22 children – at least two of them seriously – and an adult at a primary school in central China

Security at China’s schools has been increased in recent years following a spate of similar knife attacks in which nearly 20 children have been killed.
http://www.bbc.co.uk/news/world-asia-china-20723910

#92 Ronaldo on 12.15.12 at 3:51 pm

#79 Old Man – ”Now he rolled the dice in the past 2 years with condos, and is stuck with one as there are no buyers, so told him to write it off at cost to get out, ie: lower the price to blow them off. No reason to hang up the phone on me, but he was pissed off. Oh well, have done it before, and will do it again.”

They never learn. Back in the early 90’s when market went cold in the Okanagan, developers were caught with all these lots and built condos and sold them at cost just to get out from under the land. That certainly did a number on prices in a hurry. Remember it well. I owned one at the time. In 92, the vacancy rate at beginning of the summer was zero. By fall it was 7%. hugely overbuilt. Projects half built and boarded up and taking up to 4 years or more to sell. Expect this time to be much worse. Especially with rates at the lowest in history. Not like back then when normal rates were 10 to 11 percent. Going to be nasty.

#93 45north on 12.15.12 at 4:03 pm

Victoria Tea Party: Therefore the USA has descended into the level of countenancing child abuse on a truly deadly scale; the ultimate sin.

no it hasn’t

#94 Hoof - Hearted on 12.15.12 at 4:25 pm

#79 Old Man on 12.15.12 at 2:30 pm

Yeah…I’ve seen it too.

Asa teenager ,worked for this fella here in Vancouver, one of the richest Greeks immigrants and he had 3 sons. The Dad passed away in 1999, and had left a nice estate..lots of Real Estate holdings…simply sit back and collect the rent.

I then saw the eldest son in the news in 2008, had this high end Hi Rise development in Downtown Vancouver he had to stop when it was a hole in the ground, as his credit got froze.

Later, he had to partner with a major Vancouver developer….which I understand was =surrender control to get it built. I am sure they lost millions.

We call it the lucky sperm club….maybe its best not to tempt fate and piss away what the old man built up.

#95 Ret on 12.15.12 at 4:30 pm

Don’t say that I never gave ya nuthin for Christmas.

Here you are, a brand spanking new blend and extend mortgage calculator. Just plug in the numbers and hit calculate.

http://www.canadamortgage.com/calculators/mtgmanager.cgi

#96 CrowdedElevatorfartz on 12.15.12 at 4:49 pm

Sorry BernieBee, aint gonna be gentle with realtors…..they finally have to actually work to earn their commish.

#97 Republic_of_Western_Canada on 12.15.12 at 5:44 pm

#62 Austrian school

If one of those teachers, or the janitors, or a visiting parent, or the mailman, or the plumber, perhaps the electrician, even the cafeteria lady was a law abiding trained gun owner and allowed to carry, this and many other of these type of situations would have been much different.

Exactly. It’s about time sensationalizing bleeding-heart gun-grabbing nut-jobs realize that licensed concealed carry is the most stabilizing deterrent available.

Large numbers of dedicated pistol enthusiasts already train extensively and regularly at their own after-tax expense for accuracy under stress. And for social sport, therapeutic relaxation, and wholesome athletic outdoor activity. ‘Shall issue’ concealed-carry permits to dedicated and trained citizen-marshals would not only be a big general deterrent, but also a quick and immediate situational remedy.

In fact the more familiar, capable, and comfortable you get with your firearms, the less you’d ever think to use them for anything unjustified or irrational.

If that autistic 20-year-old had a nice dedicated active hobby that he was really good at, chances are he would have resolved his internal conflicts much differently. Especially if he was constantly around the controlled stable environment of well-practiced and well-trained firearms mentors.

Sounds like the 20-year-old was really good at his hobby of accurately shooting people. Would he then qualify as one of your ‘dedicated and trained citizen-marshals’? You folks are beyond crazed. — Garth

#98 Pick Up truck in the photo on 12.15.12 at 5:46 pm

Dammit…..Someone stole my Truk Nutz

#99 Republic_of_Western_Canada on 12.15.12 at 5:59 pm

#75 Joe

No kidding.

The U.S. conspired to slaughter millions of Iraqi civilians (usually called ‘collateral damage’) in a coordinated manner using the most horrible large-scale military weapons with nary a peep from the small-town types of CT.

Seems the hundreds of thousands of little kids who suffered painful lingering deaths from Napalm, fuel-air megabombs, air-borne fragmentation bombs and belt-fed weapons were somehow irrelevant.

The hypocritical howling of the U.S. mainstream media and miscellaneous citizenry over a tiny fraction of that number grows more sickening by the hour.

#100 Mississauga on 12.15.12 at 6:07 pm

Foreclosure in Lorne Park, Mississauga:

http://www.realtor.ca/propertyDetails.aspx?propertyId=12491978&PidKey=-1845013940

– Drove past 7 for-sales to reach this open, on Meadow Wood Road
– Realtor revealed house is under forecloresure. Developer/owner behind on payments to bank and bank has withdrawn credit to developer, so says realtor.
– Contrary to realtor.ca ad, home is only 75% complete. Looks like about $300,000 needed to finish.
– 71 days on market (since holdover) + another 90 days since build started.
– Realtor at open said open to offers and “$1M” not realistic.

Then why not $300,000?

#101 Questioning Calgary stats on 12.15.12 at 6:25 pm

#90 TRT

You are obviously not paying attention. The crash has already started happening. Both Vancouver and Toronto have seen average price drops of 12% since spring.

This time there will be no dramatic, unprecedented, emergency intervention (through CMHC) like the one we saw during the 08-09 crash. Interest rates cannot be slashed down to emergency levels either, since they are already there.

#102 Mr Buyer on 12.15.12 at 6:43 pm

#74 45north on 12.15.12 at 2:16 pm
Ready to lay down your life.
………………………………………………………………..
Teacher’s have assumed an exceptional duty to their students. It is assumed that they will fulfill that duty in the same manner their student’s parents do and teachers are afforded rights similar to that of parents (but not equivalent). While the teacher’s authority and stature has been eroded they are in fact THE government representative that arguably holds the largest amount of influence upon citizens (just as any special interest group taking a longer view in their pet social engineering project). While I am of the ALARMED and DANGEROUS school of thought and see the potential for psychologically unprepared government agents shooting themselves in the foot or something, I am still left wondering of late. I saw an Archie Bunker episode a very long time ago where he said that hand guns should be handed out at the beginning of flights and collected at the end of flights thus putting an end to hi-jackings. As a young boy I though Archie Bunker was ridiculous in that a shoot out at high altitude would likely mean the end of the aircraft and besides hi-jackers negotiate and things can potentially end without bloodshed if guns were removed from the equation. Fast forward to post 911 and the total war aspect of recent events have given me pause. The teacher on a power trip scenario is a nightmare for most any student and enough to turn students off learning in or out of school but safety is becoming a real concern. Many times just holding a steady course and not over reacting is the best solution but it is worth considering a teacher’s duty to their students. Asking teachers to consider bearing arms in defense of their students is no more unreasonable then asking a private in an infantry unit to lay down their life for some abstract policy.

#103 live within your means on 12.15.12 at 7:03 pm

OT – Decorating the tree today – bit early for us as we always buy a natural one. Decorated most of my mantle – tomorrow staircase. While decorating tree put on various types of Xmas music & found our Twisted Sister cd that was given to us about 80 – 10 yrs. ago. Most of it is hilarious. Makes us laugh every time we listen to it, but some of it is so sweet, especially the kids.

#104 Doug in London on 12.15.12 at 7:03 pm

@Oakvillian, post #35 who asked: How come that has not happened for the last 4 years?

I’ve been wondering the same thing since late summer and fall of 2011 when equities were on sale, or other times since then when equities were selling at Boxing Week fire sale, clear out the inventory NOW, dirt cheap prices. I thought online trading sites, or phone in sites would be jammed with buyers all frantically trying to get in at those cheap, cheap prices. I had visions of traders working long hours, chugging many gallons of energy drinks like Red Bull (as well as many, many more gallons of strong brew coffee or amphetamines) to stay awake around the clock, taking phone calls and submitting buy orders for stocks and sell orders for bonds during those times when equities were on sale and and it was time to take profits from fixed income investments. Perhaps I missed all this action in August 2011, as I was too busy enjoying a vacation to Newfoundland and Labrador.

#105 live within your means on 12.15.12 at 7:05 pm

OOPs – meant 8-10 years not 80 – 10 years,

#106 Mr Buyer on 12.15.12 at 7:07 pm

Parents are required by law to have their children educated. I imagine that this puts onus upon the state to provide a degree of safety for students as students are fulfilling statute mandated expectations of the state. Education is still by and large very far behind the curve in the implementation of protocols and technology in 21 century schooling. Alternatives to brick and mortar schools attenuate a certain degree of liability for the state in that if students are harmed in bricks and mortar settings fulfilling their obligations to the state a certain amount of choice has been exercised by the parents in having the students there rather than studying online from the safety of their own homes. From a liability viewpoint schools would be well advised to take security much more seriously than they do as a whole and education departments could potentially benefit financially and from a liability stand point if they developed and implemented online education alternatives as well as updated security protocols in bricks and mortar schools. Anyways a video based instructor does not come to class in a bad mood and take a big dump all over students from time to time. A few whopper lawsuits would go a long way towards getting the ball rolling.

#107 Smoking Man on 12.15.12 at 7:11 pm

#102 Mr Buyer

If teachers were allowed to pack I would not be around to entertain you dogs.

Man did I get under there skin when my kids where in high school.

#108 Canadian Watchdog on 12.15.12 at 7:15 pm

#90 TRT

The Government and corporations like temporary workers/students because if the economy goes to shambles, they can send them back home. But sooner or later, immigrants will figure out they were sold as debt slaves for profit.

#109 live within your means on 12.15.12 at 7:23 pm

#97 Republic_of_Western_Canada on 12.15.12 at 5:44 pm
#62 Austrian school

If one of those teachers, or the janitors, or a visiting parent, or the mailman, or the plumber, perhaps the electrician, even the cafeteria lady was a law abiding trained gun owner and allowed to carry, this and many other of these type of situations would have been much different.

Exactly. It’s about time sensationalizing bleeding-heart gun-grabbing nut-jobs realize that licensed concealed carry is the most stabilizing deterrent available.

Large numbers of dedicated pistol enthusiasts already train extensively and regularly at their own after-tax expense for accuracy under stress. And for social sport, therapeutic relaxation, and wholesome athletic outdoor activity. ‘Shall issue’ concealed-carry permits to dedicated and trained citizen-marshals would not only be a big general deterrent, but also a quick and immediate situational remedy.

In fact the more familiar, capable, and comfortable you get with your firearms, the less you’d ever think to use them for anything unjustified or irrational.

If that autistic 20-year-old had a nice dedicated active hobby that he was really good at, chances are he would have resolved his internal conflicts much differently. Especially if he was constantly around the controlled stable environment of well-practiced and well-trained firearms mentors.

Sounds like the 20-year-old was really good at his hobby of accurately shooting people. Would he then qualify as one of your ‘dedicated and trained citizen-marshals’? You folks are beyond crazed. — Garth
………………….

Totally agree Garth – read some of the likes of the above commenter on a couple of site today.

#110 TRT on 12.15.12 at 7:45 pm

#108 Canadian Watchdog,

Nobody that’s ‘Temporary’ will ever go home. Trust me on that. Too much money given to ‘employers’ under the table or invested in education for that to ever happen. There are internal economies in place in Canada that you can live a lifetime here until you have kids born here ;)– parents initially never really need to get on the grid.

#111 Republic_of_Western_Canada on 12.15.12 at 7:49 pm


Sounds like the 20-year-old was really good at his hobby of accurately shooting people. Would he then qualify as one of your ‘dedicated and trained citizen-marshals’? You folks are beyond crazed. — Garth

Sounds like nothing of the sort. Presiding over a group of victims cowering a few feet away in the corner of a room has nothing to do with accuracy. And precious little to do with discipline or a hobby.

He had all the time in the world to fumble on and on, no accuracy needed. Which would not have been the case if a quick-acting, on-site citizen marshal had been there.

FYI, until complete documentation of the scene is [ever] publicly available, involving room geometry, impact points, casing count, timing, magazine capacity and count, et cetera, no one is qualified to make any sort of claim of accuracy. Nor was the mere presence of another stolen arm in a locked trunk, over at the other end of a parking lot, attributable to the casualties. To the disappointment of the hysterical MSM no doubt.

Although converting your Lanza at this point is a bit of a stretch, remember that ‘a successful revolutionary makes for the most conservative politician’. If he was trained early enough, at least he would have expressed frustration in a different manner.

#112 Mr Buyer on 12.15.12 at 7:58 pm

Classroom management is probably the biggest concern for teachers with teaching of subject matter coming in a distant second. Social dynamics at school in and out of the classroom is an area that is often left in the hear no evil, see no evil, speak no evil realm. It is like there is no real problem if it is not raised to the level of conscious awareness. This lack of awareness and thus accountability does not go unnoticed by young students which are as a group very perceptive and have a very good sense of what is and is not justice. The implied messages, often completely unintended, are often the primary lessons being taught at school. A much finer grain observation, understanding and management of social dynamics in our schools is in order. A tall order to be sure but not an unreasonable expectation. Our teachers are trained professionals and as such develop keen awareness that evolves over time. While this holds all the negative potential that micro-management does manifestation of these negative potentials can be watched for and attenuated. The over all goal being the development of a perceived safe environment on many levels that fosters curiosity, exploration and the joy of understanding and discovery for both girls and boys as they find their way towards being well adjusted members of society.

#113 Mr Buyer on 12.15.12 at 7:59 pm

#107 Smoking Man on 12.15.12 at 7:11 pm
#102 Mr Buyer

If teachers were allowed to pack I would not be around to entertain you dogs.

Man did I get under there skin when my kids where in high school.
………………………………………………………
I am guessing as a fairly reasonable person you would have likely taken up another hobby.

#114 Mr Buyer on 12.15.12 at 8:05 pm

Do not get me wrong. Armed and dangerous teachers is not the best idea in the world. A gun in a classroom, not matter who happens to be in possession of it at any given time, is a potential hazard of absolute proportions.

#115 juno on 12.15.12 at 8:15 pm

Talked to 5 people who sold their house or condo in September. They all say the same thing and is glad they finally got out after very little interest in the past several months. For the house owners they say if they sold in March they would of sold for 60 to 82 thousand dollars more. The condo sellers also mentioned the same thing, it was tough to sell and they took a 20 to 35 thousand dollar reduction in order to sell.

Looking at the listings in Burnaby and East Van, I can see several spankin new houses taking a 200 G reduction and still not selling. For the older houses, I can see 20 to 50 G reductions and still not selling. The spring time is coming and I can sell a sprint to the exits. Its going to be blood bath for first time buyers who bought in the past two years and will lose their down payment and left in the hole.

It now more expensive to buy than rent, because you have to account for monthly price reductions for your homes

#116 squidly77 on 12.15.12 at 8:18 pm

Apples gonna need a parachute @ exactly 7:30 AM on Monday December 17. Beginning Monday, IPhone to be sold @ Walmart

Biggest problem for Apple, kids, they love the much cheaper Droids. Goggles doing what Microsoft did to Apple in the nineties. Apples already down nearly 30% in just 3 months. AAPL

Apples a great company, just overvalued. Its always cost that bring better products down just as regular DVDs are bringing a fast end to Blue Ray (superior in every way) now. And do you remember what VHS did to BETA ?
___________-
I agree with the Watchdog, psychiatric pharmaceuticals are destroying young minds all around us. I am sure we all have a story on that topic.

But I must add that for some people psychiatric pharmaceuticals are life savers

#117 Mr Buyer on 12.15.12 at 8:22 pm

Another area that could use a little more light is the psychological profile of teachers. As the government’s primary representative and more important interpreter of government policy it is a good idea to have a clear picture of a teacher’s psychological make-up and how that fits and compares with a desirable psychological make-up.

#118 a prairie dawg on 12.15.12 at 8:26 pm

‘Manufacturing In The US Is Making A Historic Comeback’

http://www.businessinsider.com/manufacturing-in-the-us-is-making-a-historic-comeback-2012-12

#119 JimH on 12.15.12 at 8:32 pm

#34 Victoria Tea Party

What a hypocritical sermon! You must be one ignorant and arrogant ass.

Per 100,000 pop…. here are some stats…
Connecticut homicide rate = 3.00
Nunavut homicide rate = 18.2
Manitoba homicide rate = 3.60
Saskatchewan = 3.25
http://en.wikipedia.org/wiki/List_of_countries_by_intentional_homicide_rate#Canada
Perhaps you might find some time and energy to clean up your own best before seeking to crap in others’?

Guess you were also so busy gulping down CNN Pablum to notice these fine examples of violence north of the 49th????
http://www.huffingtonpost.com/2012/09/05/quebec-shooting-pauline-marois_n_1856599.html

http://www.globalnews.ca/analysis/6442680896/story.html

By playing the pot calling the kettle black, you are nothing more than a chauvinistic national embarrassment… Open your eyes, see where your head is, and then get it out of your a$$… and have a great day!

#120 mel in victoria on 12.15.12 at 8:33 pm

Republic_of_Western_Canada on 12.15.12 at 5:59 pm #75 Joe

No kidding.

The U.S. conspired to slaughter millions of Iraqi civilians (usually called ‘collateral damage’) in a coordinated manner using the most horrible large-scale military weapons with nary a peep from the small-town types of CT.

Seems the hundreds of thousands of little kids who suffered painful lingering deaths from Napalm, fuel-air megabombs, air-borne fragmentation bombs and belt-fed weapons were somehow irrelevant.

The hypocritical howling of the U.S. mainstream media and miscellaneous citizenry over a tiny fraction of that number grows more sickening by the hour.

I was thinking the same thing myself!!!

#121 a prairie dawg on 12.15.12 at 8:42 pm

The end of cheap China

http://www.economist.com/node/21549956

#122 Daisy Mae on 12.15.12 at 8:47 pm

#77Huj Kok: “I get it, guns don’t kill people, people kill people.”

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

That’s always been a stupid argument….

#123 Daisy Mae on 12.15.12 at 8:50 pm

#79 Old Man: “No reason to hang up the phone on me, but he was pissed off.”

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

Don’t worry about it, Old Man. The truth hurts….and he can’t handle it.

#124 jess on 12.15.12 at 9:47 pm

==============
From 2007
http://www.guardian.co.uk/business/2007/may/29/eu.money

EU clampdown spawns new carousel fraud·
Ministers discuss changes to VAT payment system
· 95% of reclaims checked had been made by crooks

…A new and virulent form of VAT “carousel” fraud is sweeping across Europe, threatening to defeat governments’ efforts to combat it and pushing annual tax losses up by billions of euros…The new mutation of the fraud is known as “contra trading” and is the fraudsters’ latest move in the cat-and-mouse game with the EU’s customs officers…France, which has until now denied it had a serious problem with the fraud, recently admitted it may have lost €19bn last year. It is not alone. Germany last year smashed a carousel fraud ring where one truck full of phones had gone back and forth across the Swiss-German border for five years, generating €165m of VAT repayments…” Richard Ainsworth, a professor at Boston University School of Law, who has studied car flipping In one case in Ontario, a group of fraudsters were jailed for up to four years after defrauding the Canadian government of $20m (£9.3m) in a fraud in which cars appeared to be sold and resold several times a day in different parts of the country. None of the vehicles actually changed hands. and carousel fraud in Britain, says they are remarkably similar crimes, as GST, a destination-based tax, is very similar to VAT.

Prof Ainsworth believes it is not the nature of the tax, but the nature of the market – with goods passing through large numbers of middlemen – which facilitates the crime.
======

Definition of ‘Contra Broker’
A term used to describe the broker participating on the opposite side of a transaction. Contra brokers will take the opposing side of a buy or sell order from the initiating broker, who is submitting said order, on their client’s behalf. Contra brokers add efficiency and liquidity to the marketplace by aiding in the filling of orders by other market participants.
Read more: http://www.investopedia.com/terms/c/contrabroker.asp#ixzz2FAtDh1jO
‘carousel’…http://en.wikipedia.org/wiki/Missing_trader_fraud

Contra-trading fraud is the further evolution of carousel fraud, and evades government detection by using two carousels of traded goods where one carousel is legitimate and the other is not thereby allowing an accounting scheme where the input and output VATs neutralize each other thereby concealing the fraud

#125 Mike on 12.15.12 at 9:51 pm

111 Daisy Mae on 12.15.12 at 8:47 pm
#77Huj Kok: “I get it, guns don’t kill people, people kill people.”

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

That’s always been a stupid argument….
.******************
Because it’s so obvious

#126 espressobob on 12.15.12 at 9:51 pm

#40

I grew up handling firearms (includinging handguns &assault rifles) No joke! A different time day and age. I thank GOD I live in Canada, if only you new what wheapons like this are capapable of?

#127 Garth's mom on 12.15.12 at 10:05 pm

Garth,

Before you post your predictions for 2013, how about a look back at your 2012 predictions from last year? Not too bad …

http://www.greaterfool.ca/2011/12/

I appreciate you noting my omniscience. — Garth

#128 Ralph Cramdown on 12.15.12 at 10:15 pm

People, please don’t feed the trolls! Nobody is actually stupid enough to believe that the solution to reducing the 30,000 annual gun suicides, murders, justifiable homicides and accidental deaths in the US is for MORE people to carry guns on their persons. They’re trollin’ ya, and you’re falling for it.

#129 espressobob on 12.15.12 at 10:19 pm

#40

I grew up handling firearms (includinging handguns &assault rifles) No joke! A different time day and age. I thank GOD I live in Canada, if only you new what wheapon like this are capapable of?

#130 kris on 12.15.12 at 10:34 pm

Mr Turner

Your point about money moving from bonds to stocks is incorrect by using the same logic you use about houses.

Old people and retires are or will be selling both houses and stocks in order to have cash for survival.
The market has been so volatile since 2008, that only few gents over 50 actually are dumb enough to get housing or stocks.
Both are “greater fool” items.

There aren’t enough ‘gents over 50′ to move any market. My comments relate to institutional investors who quite decidedly will be moving back into growth assets. — Garth

#131 Canadian Watchdog on 12.15.12 at 10:41 pm

#110 TRT

Nobody that’s ‘Temporary’ will ever go home. Trust me on that.

I'd rather trust economic cycles based on historical data. I think you're discounting a very powerful force that has been sleeping for some time now, but that's about to change.

#132 Smoking Man on 12.15.12 at 10:49 pm

#126 espressobob on 12.15.12 at 9:51 pm

It’s not the guns,
On any given day some sad person decides, I am done here. Usually they eat a bullet in the basement, take the pills, subway jumping, or hang em selves.

Everyone knows the name of the Batman Killer, The columbine killers.

Yet no one knows the names of any of the victims. how sad is that.

Hero worship is alive and well, the media while denouncing these events, make celebrirtys out of the killers.

People who are planning an exit, see this. and say why the hell should I go out with out some attention.

If the media would just say, lunatic kills, no info on real name or identity of the killer, we would get some where.

We would be back to subway jumpers.

Plus all these killers all have something in common, all on anti depressants.

Big Pharma, your so good at staying out of this, lots of add revenue for MSM.

#133 baddog on 12.15.12 at 11:09 pm

I have been reading this blog for a little while now and I am now quite sure that a correction is in the cards for Canadian real estate. At first I panicked and planned to sell my two rentals but I just can’t bring myself to evict my tenants. I drove by and saw the Christmas trees in the window and the kids playing in the yard and I just don’t have it in me to ask nice people to leave their homes so I guess I’m stuck with them until the next housing cycle. I’ve got about 15-20 years until retirement so I should be able to wait it out but I imagine that if I end up under water on any of my mortgages it might be a very unsettling feeling to know that I can’t just sell any time. I Doubt very much that we will experience the kind of magnitude that was felt down south for a variety of reasons and that people waiting for a 50% discount are dreaming but still it is going to hurt. Any predictions as to how high interest rates will climb in the next 4-5 years? I have a relative that works in finance for one of the banks that says that they are going to raise rates quite gently over the medium term. Nobody wants a massive wave of defaults and bankruptsy. Any realistic predictions?

#134 rosie on 12.15.12 at 11:25 pm

Is it just me or is the speling on this blog deteriorating.

#135 Smoking Man on 12.15.12 at 11:26 pm

#133 baddog on 12.15.12 at 11:09 pm

Your friend don’t know shit

CDN soon to be Reserve Currency by IMF
Our bonds safe.

Floating rate no where to go but down, till out trade balance in positive area.

In the world Central banks are racing to devalue currency to boost exports.

I have no degree
I am un schooled
I am a drunk
I am a smoker
I pine short term rentals
I am a bad man

But I am never wrong…………………

I am the Smoking Man

#136 HogtownIndebted on 12.15.12 at 11:26 pm

Stunning and sad to see the vitriol poured out here and elsewhere by pro-gun zealots today.

It seemed to start here with Smoking Man last night comparing teachers to firefighters….what the hell was that??? Utterly incoherent non sequitur and a deeply offensive and hateful personal attack to teachers, especially as we hear today how several actually put their lives on the line and lost them to protect children. Shame on that comment.

You got a problem with how kids are treated in schools? Try starting with the homes where they learn these dysfunctional behaviours, the plethora of s.o.b. absentee or divorced fathers who don’t give a damn and light the fuse that leads to self destruction for so many young males.

As for the rest of the pro-gun tirades, many seem right out of whack job “coast to coast radio with the spaceman” stuff. To the guy who said hey, it’s not just guns but other weapons too – did you even notice your CBC newslink story told about how people were “hurt” by a knife – i.e. not KILLED. Er…..that’s the essence of the argument for gun control (supported by almost all Cdn chiefs of police by the way, hardly leftoids) Guns are unforgiving and do not allow for do-overs. Humans are flawed and always will be; giving ourselves easy access to tools of irreversible destruction for no good reason simply fails the common sense test.

Saying that we must look instead at mental health issues is just another unthinking diversion of the pro-gun zealots – yeah, right, let’s spend trillions on extra mental health care so a few of us don’t have to register or limit our weapons. They only say that knowing that it is practically impossible. It’s a failed tactic in logic, to try to justify the present by reference to a hypothetical ideal. It’s gotten very old on this topic.

You pro-gun guys are like the investors who averaged down on tech stocks after March 2000 or piled into condos this summer, failing to see common sense in site of such obvious countervailing evidence. Facts never matter when the kool-aid is so strong.

You want a gun for hunting or target shooting in controlled siutations? I have little issue with that. But spare us the claptrap, the sheer inanity of nonsense like “teachers should be armed”. Good grief.

Here’s the real truth that few have the guts to acknowledge about the pro-gun lobby: They have evaluated everything about these gun incidents and decided conclusively that gun deaths are sad but acceptable, on balance, and they accept the suffering of others as necessary for the survival of their own ideology.

Thankfully, in this country still and in most others, the rest of us have combined some grasp of basic understanding of psychology, emergency medicine, math and probability and come up with the opposite conclusion.

#137 broadway skytrain on 12.15.12 at 11:38 pm

looking at tkts for my daughter for xmas
‘one direction’ is the hot boy band these days

thought floor seats would be cool so i dialed up a set…..

Tickets: 2 x $1845.00
Service Fee:
2 x $276.75
Delivery:
$40.00
Total:
$4283.50 for a pair!

preteens must be making good coin these days!

#138 Nostradamus Le Mad Vlad on 12.16.12 at 12:03 am

-
#88 Canadian Watchdog — Excellent work, CW.

#99 Republic_of_Western_Canada — “Seems the hundreds of thousands of little kids who suffered painful lingering deaths from Napalm, fuel-air megabombs, air-borne fragmentation bombs and belt-fed weapons were somehow irrelevant.”

Good post. So easy to forget the past, but if we don’t learn from the past, no one can make judgement calls on things they have conveniently forgotten. — Remember her? I do. This is her today.

#132 Smoking Man — “Big Pharma, your so good at staying out of this, lots of add revenue for MSM.” — So true. One supports the other, both stay in business and sheeple blindly believe everything they read. That’s why they are sheeple.
*
Thought For The Day! — “We must become the owners, or at any rate the controllers at the source, of at least a proportion of the oil which we require.” — British Royal Commission, agreeing with Winston Churchill’s policy towards Iraq, 1913 — Although the looting still continues today, where is the Great British Empire now?
*
Rate Rigging at Libor You betcha! 5:29 clip HSBC. Interesting headline; Victory for Couple F’ing banks. Hell is too nice a place for them; Christmas Christmas is a pagan holiday, nice and all that but it can (and usually is) ridiculously expensive; EZone Stalemate; The US Fed Controls America So whoever controls the US Fed controls the pot of gold at the end of the rainbow (try the money men), but Failing Rothschild? That’s news; Gorbachev Remember him? EZone Berlusconi’s back.
*
Connecticut already has strict gun control laws, which did nothing to prevent Friday’s tragedy, Suicide or Sniper? 1996 Dunblane school killings Lotsa links in, the most curious being the last one, re: Dr. David Kelly. He is dead now; Texas school and 26:12 clip Antidepressants and suicides, plus Cdn. judge weighs in and 1:49:30 doc. Psychiatry — an industry of death; Jimmy Savile Re: the children in Connecticut Friday, the sex abuse scandal in England; Oliar and Gitmo While everyone had their attention somewhere else. First para. sums it up, esp. the last few words; Bank Cyberattack or more hyperbole, working on people’s emotions based on what happened Friday? I would suggest the latter; ‘Net control blocked at UN (good); 5:11 clip So much for education. Preaching war is preaching hatred. Smoking Man is right; Social Media censors (or ignores) alternative media; Syria More from the Bovine Excrometer Establishment; Grapefruit Esp. Texas grapefruits — they are sweet and juicy; 2:41 clip Japanese company develops small hydro-electric generator; German Immigration up from southern Europe. People have nowhere to go; Obesity vs. Malnutrition Obesity’s worse; 12-12-12 to 12-21-12 It will all work out in the end; Black Widows in UK. Must be the food; 42 kids a day Why aren’t drugs legalized, so the court system wouldn’t be clogged up? Remove the pusher, take out the violence.
*
Smoking Man (and others) You would understand this.

#139 Boomer21 on 12.16.12 at 12:29 am

Some thoughts based on events in CT over the last couple of days and the doomers who post on this blog. Hug your kids, kiss your wife, husband. Tell your Mom and Dad you love them. Keep your friends close and raise a glass to life!

“Fear is the most valuable commodity in the universe. People selling their products? No people selling the fear of you having to live without their products! Fear of aging, fear of loneliness, fear of poverty and failure. Fear sells!”
Maybe we should stop buying.

#140 Boomer21 on 12.16.12 at 12:37 am

Sorry should have given proper quote of italic ” to a book called World War Z. Very interesting book.

#141 Devore on 12.16.12 at 12:53 am

Is there no end or shame to your political opportunism? There are thousands of gun nut and anti-gun nut blogs, forums and web sites to take this crap to.

#142 Mic D'angelo on 12.16.12 at 12:54 am

I have long term bonds and strips yielding 4.75%+ so yields will not move high enough to erode my capital. In 2010 the so called experts were saying long term bond yields were going to rise to 6.00%. Garth, give a number and not a general prediction of an increase in bond yields that could be 0.25% to 0.33% increase if we even get that for 2013.

#143 NFN_NLN on 12.16.12 at 2:43 am

#46 NRA-holes on 12.15.12 at 3:55 am

Knife: 22 injured. 0 dead. Most didn’t even need hospitalization

Gun: 27 dead.

If you were in that school would you have wanted the attacker to have a knife or a gun?

If the teachers were armed the body count would have been much lower ;)

#144 Hoof - Hearted on 12.16.12 at 3:06 am

EVERY HUMAN EMOTION NOW CLASSIFIED AS A MENTAL DISORDER
IN NEW PSYCHIATRIC MANUAL DSM-5

http://www.republicbroadcasting.org/index.php?cmd=news.article&articleID=4613

The industry of modern psychiatry has officially gone insane. Virtually every emotion experienced by a human being — sadness, grief, anxiety, frustration, impatience, excitement — is now being classified as a “mental disorder” demanding chemical treatment (with prescription medications, of course).

The new, upcoming DSM-5 “psychiatry bible,” expected to be released in a few months, has transformed itself from a medical reference manual to a testament to the insanity of the industry itself.

“Mental disorders” named in the DSM-5 include “General Anxiety Disorder” or GAD for short. GAD can be diagnosed in a person who feels a little anxious doing something like, say, talking to a psychiatrist. Thus, the mere act of a psychiatrist engaging in the possibility of making a diagnoses causes the “symptoms” of that diagnoses to magically appear.

This is called quack science and circular reasoning, yet it’s indicative of the entire industry of psychiatry which has become such a laughing stock among scientific circles that even the science skeptics are starting to turn their backs in disgust. Psychiatry is no more “scientific” than astrology or palm reading, yet its practitioners call themselves “doctors” of psychiatry in order to try to make quackery sound credible.

How modern psychiatry really works
Here’s how modern psychiatry really operates: A bunch of self-important, overpaid intellectuals who want to make more money invent a fabricated disease that I’ll call “Hoogala Boogala Disorder” or HBD.

By a show of hands, they then vote into existence whatever “symptoms” they wish to associated with Hoogala Boogala Disorder. In this case, the symptoms might be spontaneous singing or wanting to pick your nose from time to time.

They then convince teachers, journalists and government regulators that Hoogala Boogala Disorder is real — and more importantly that millions of children suffer from it! It wouldn’t be compassionate not to offer all those children treatment, would it?

Thus begins the call for “treatment” for a completely fabricated disease. From there, it’s a cinch to get Big Pharma to fabricate whatever scientific data they need in order to “prove” that speed, amphetamines, pharmaceutical crack or whatever poison they want to sell “reduces the risk of Hoogala Boogala Disorder.”

etc etc.

#145 A Smith on 12.16.12 at 3:06 am

@ #129 Espressobob –

“I thank GOD I live in Canada, if only you new what wheapon like this are capapable of?”

All of the guns used by the shooter are legal in Canada.

M4, Sig Sauer P229, and many types of Glocks can be purchased legally in Canada.

The elephant in the room is the deinstitutionalization of the insane and rampant drugging by so-called “psychiatrists.”

Several studies have shown a clear link between SSRI medication and suicide/homicide. Several anti-psychotic drugs can lead to different types of psychosis. These drugs are being handed out like candy, and there is a clear link to violence. Turning people into zombies and turning them loose into the general population is more dangerous than the proliferation of guns.

Mass killers use guns because they provide a highly dramatic (yet easy) way of killing a lot of people. If there were no guns, mass killers would pick the next most dramatic (yet easy) way of killing a lot of people. A psychopath could *easily* kill 10 or 20 people with a car on a crowded sidewalk.

#146 Hoof - Hearted on 12.16.12 at 3:08 am

Conneticut Shooting….tragic…..

One shooter?…I don’t think so

Pattern is getting too familiar

#147 Kilby on 12.16.12 at 3:23 am

#134 rosie on 12.15.12 at 11:25 pm
Is it just me or is the speling on this blog deteriorating.

It is the spelling and getting off topic that makes this blog not the same as it was even 1 year ago…Too bad, a lot of us had learned how to differentiate between “news” generated by special interest groups and basic fundamentals of the economy, markets and real estate. Changed the way our family looks at things….

#148 A Smith on 12.16.12 at 3:24 am

@HogtownIndebted #136

“Cdn chiefs of police” are nothing more than a bunch of authoritarian bureaucrats — the same people who want warrantless wiretapping, random RIDE pullovers, and all sorts of other police state madness. Regular police officers, on the other hand, generally don’t support things like the LGR or any additional new gun control measures here in Canada.

As for tools of irreversible damage, anyone could use a car to commit mass murder. Maniacs use guns because they’re emulating movies and want to be dramatic.

You say you’re fine with registered weapons, but what happened with this shooting could have occurred under a system of registration. The shooter didn’t own the guns, he gained access to his mother’s guns unlawfully. CT has laws about keeping guns under lock and key… Sadly the mother didn’t do a good enough job.

I don’t agree with arming teachers, but there should be only one way into a school, and that is past an armed guard. We have armed guards at our courthouses, we have armed guards protecting money trucks. It’s common sense. Even if you take guns out of the picture (impossible), someone could walk into a school with a sword, a chainsaw, a nailgun, a pipe bomb, homemade napalm, etc. Security IS critical. If cockpit doors were secured prior to 9/11, 3000 people wouldn’t have died.

As for the Chinese “slasher” … This guy was obviously trying to maim and not specifically trying to kill. If he was trying to kill, he would have killed a few. The key word in all the stories about the incident is slash, not stab. It’s very hard for a small child to survive multiple stab wounds.

Facts never matter when the kool-aid is so strong, indeed.

#149 cynically on 12.16.12 at 3:57 am

#120 – mel in victoria – must be payback time, eh mel?

#150 Buy? Curious? on 12.16.12 at 4:26 am

Teachers should be good looking, like models.

#151 Blacksheep on 12.16.12 at 4:46 am

REMOVED BY REQUEST

#152 Herb on 12.16.12 at 7:34 am

#124 Jess,

you don’t suppose that we could have our very own “carousel fraud” working here, do you?

http://www.cbc.ca/news/canada/story/2012/11/30/cn-biodiesel-mystery-shipment.html

#153 Herb on 12.16.12 at 7:44 am

#136 HogtownIndebted,

well said! Thank you.

#154 cofessions of a real estate bear on 12.16.12 at 8:08 am

canadian watch dog 108 I agree i really feel for the recent immigrants coming to Canada. I dont think they are here to “build” the country. I picture them as sort of the new bottom of the base on the debt ponzi. They are going to get a raw deal in the future and they willnot be happy

#155 GTA Girl on 12.16.12 at 9:19 am

Old Man: your developer friend is fortunate to have a son who works.

Many idiot-sons in the game. The most work they ever do is raise a hand to the bartender at One in Yorkville to get their escort/girlfriend/mistress a glass of Prosecco.

#156 Developer Son Who Doesn't Work on 12.16.12 at 10:03 am

#155 GTA Girl

Hey, give us developer sons who don’t work a break! The work of keeping track of all our escorts, girlfriends and mistresses in order is major work!

#157 Smoking Man on 12.16.12 at 10:25 am

#136 HogtownIndebted on 12.15.12 at 11:26 pm

Not a gun zelot here, they scare me. Never held one, never shot one, never will.

I can kill more effectively with key strokes and words even with a very limited vocabulary and horid grammer.

And what about my point where loones don’t shoot up fire halls did you not get. It don’t happen cause fire men don’t fk with kids minds.

You are opportunistic taking advantage of the shooting to build support and to attack me, perhaps because of my long noted distian for the current way we school our kids. and how teachers are complicit in sheep-e-fying the population. and destroying critical thinking skills and creativity.

Nice try

#158 Herb on 12.16.12 at 10:32 am

#148 A Smith,

would you mind linking your source for what “regular police officers” do or do not support? Police chiefs normally are not first responders, so if “regular” officers are not interested in what weapons they might encounter on a call, that would be newsworthy.

#159 Stoopid Idiot on 12.16.12 at 10:32 am

SOMEWHERE OVER THE RAINBOW

Life will be……….. oh well I guess the song has its own definition of life. This weekend is probably one of the lower points in the entire decadence of this game. Many pundits are pointing at all of the causes of this horrific shooting of these precious children and missing what I believe is the more obvious root cause. Sure we have guns that can slaughter mass humans with the squeeze of a trigger. We also have 800 military bases in 130 countries around the world. We have publicly stated that we will kill our own citizens without a trial in foreign countries and now here in our own country. We have publicly stated in violation of all laws that we will take our own citizens without a trial and torture them if “necessary” to “protect” ourselves. We have reached a point of violating not only international laws but nature’s laws to the point that we are deteriorating into an immorality that is permeating the very fabric of our lives.

I was watching a Charlie Rose interview with the actress that was the agent in the Bin Laden movie opening and was startled to listen to them discuss calmly how a key part of the movie dealt with her watching a prisoner being tortured by her country. They didn’t even pause in the interview to discuss the morality of this scene as though it is universally condoned. What happened to us? When did we sink into the abyss. When did we allow evil to walk into our live so blatantly. Are we bereft of feeling any compassion due to our fears of “terror”.

I’m sure that we will see a further debate on “assault” weapons and handguns…..but we will not see a debate on why evil is now walking upright among us unimpeded by any moral response. When good men and women that know what is happening remain silent then nature’s law will ultimately take over. You may believe that this was a nefarious plot to take away gun rights with another “lone gunman” false flag mass murder, but that is not the point. The point is this is what we have discussed as far back as three years ago on this blog…feel free to go back and read the various posts and comments. This IS the result of a broken society. A failed state sinking into a cesspool of moral conflicts.

This act was the act of evil and all of us are responsible in so many ways for its presence. A deteriorating economy with many young people feeling a true sense of hopelessness facing their future. It has a profound impact on a healthy mind much less a mind tortured by mental illness. We have families broken and dismembered by a lack of parenting, either by choice or financial necessity. Murderous video games occupying the developing minds of our kids hours a day. You won’t hear that on the MSM…its big money. We have a broken health care system that has very little impact on the increasing millions of Americans sinking into mental illness. We have a press that refuses to examine ANY of the moral issues that now afflict this nation. We have lost our courage and we have allowed our constitution to be destroyed without a whimper.

If you want to know why those babies are dead you really don’t need to go to roundtable investigation of the multitude of possible causes. Stick with what is hitting you in the face everyday and what has been commented on here multiple times…..because that is what nature’s law WILL do when we allow evil to walk unchallenged. See you in the casino next week. gl

http://kliguy38depression2news.blogspot.com/

#160 jess on 12.16.12 at 10:58 am

152 Herb –
…the cliffers = deferral ?
Shifting Profits Offshore Would Be Expanded by a “Territorial” System

Under the “territorial”
tax system promoted by many corporate
lobbyists in Washington today, U.S.
corporations would

NEVER

have to pay U.S.
corporate taxes on these profits.

http://ctj.org/pdf/unrepatriatedprofits.pdf
=================

more round and round
…”Specifically, investigators are examining whether the company conducted illegal trade in carbon emissions certificates. The Frankfurt public prosecutor’s office has accused 25 of the bank’s employees of serious tax evasion, money laundering and obstruction of justice. On Wednesday, they ordered the arrest of five suspects.”

The trades were conducted via Deutsche Bank, and the judge in the 2011 case noted that the bank had facilitated cross-border trading in carbon permits. A ring of traders was accused of participating in a conspiracy to evade around €300 million in VAT on carbon permits between August 2009 and April 2010….To stop the problem of VAT fraud in the EU’s emissions trading scheme, the European Commission set up a new common carbon registry in June to replace some 30 national registries with a single platform.
http://www.spiegel.de/international/business/deutsche-bank-co-ceo-juergen-fitschen-under-investigation-in-tax-probe-a-872563.html

#161 CrowdedElevatorfartz on 12.16.12 at 11:11 am

@155 GTA Girl

Hmmm i guess Yorkville has the same obnoxious, lazy, ‘lucky sperm club” posers as vancouver does….
You hit the nail on the head for a majority of the 2nd generation “developer” families here.

#162 Smoking Man on 12.16.12 at 11:24 am

http://www.washingtonpost.com/local/crime/adam-lanza-is-recalled-as-a-rambunctious-kid-with-family-problems/2012/12/14/795ad0fe-4641-11e2-8e70-e1993528222d_story.html

The headline reads
Suspect XXXX XXXXX was obscure in life, now is infamous in death.

I will not re publish his name and add to the inspiration of the next one…

Ratings for the Big News outlets soar during this sad weekend. I saw an add for a big pharma company that makes the mind altering drugs that make these people go wacky.

The irony of it all………………………

#163 Daisy Mae on 12.16.12 at 11:28 am

#136 HogtownIndebted: “…..giving ourselves easy access to tools of irreversible destruction for no good reason simply fails the common sense test.”

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

My thoughts exactly. Wasn’t this unfortunate mom murdered with her own weapon….falling into the hands of her deranged 20-year-old son? Yes. She was.

#164 jess on 12.16.12 at 11:33 am

herb here is a mystery for you …involving a murdered accountant.

Six year probe into a £500million VAT fraud shelved without one arrest
11 Nov 2012 00:01
THE investigation was one of the biggest ever launched, with 22 arrests, 67 raids and 500 officers involved, but it has now been halted

http://www.dailyrecord.co.uk/news/crime/six-year-probe-into-a-500million-vat-1429977

#165 Just sayin' on 12.16.12 at 11:44 am

Until the MSM quits making money off these horrific events, they will keep sensationalizing such tragedies. So it’s up to govt to create legislation to keep the shooter nameless and on page 4, SM is right. However, the bigger problem we face as a society is a moral one. As a society, we eliminate hundreds of thousands of unborn children a year via abortion. May God have mercy on our souls.

Okay, this has officially gone too far. When gun-loving, right-to-lifers invade, I’m outta here. — Garth

#166 Hoof - Hearted on 12.16.12 at 11:50 am

Gun control was predicted to be a failure and has proven to be a failure.

The vast majority of gun deaths are by gang members killing each other…

The Conneticut shooting…IMHO ….was a psy-opp, much more to the story

#167 Dorothy on 12.16.12 at 11:59 am

Maybe Real Estate isn’t the only investment we need to fear. Read the following article to see what happened in Spain to those who invested in preferred bank stock.

But, I forgot, it’s different here!

http://www.chroniclejournal.com/news/cp/business/spanish-savers-fall-victim-friendly-bankers

Here’s a small quote from the article for those who don’t want to follow the link:

Actually, it is. This is not, nor ever will be, Spain. — Garth

#168 Dorothy on 12.16.12 at 12:00 pm

Sorry, accidentally hit submit before including the quote – but here it is:

investments in “preferred stock” were sound when introduced but their value was hurt by market conditions and Spain’s deteriorating economy.
Preferred stock entitles the holder to a fixed-rate dividend, paid before any payouts are distributed to holders of ordinary shares- common stock. Holders of such preferred stock also rank higher than ordinary shareholders in receiving proceeds from the liquidation of assets if a company goes into court protection.
Romero, like most of his colleagues, sold preferred stock in his bank and believed at the time that he was promoting a good product. They were first offered at the end of the 1990s at a time of economic boom and many people benefited from the returns. The problems started when people started signing up between 2007 and 2009, just as the bubble was bursting.
“There was a market that worked at the time and had good returns,” he said. “But the crisis came suddenly and it all collapsed.”

#169 Tony on 12.16.12 at 12:48 pm

Re: #167 Dorothy on 12.16.12 at 11:59 am

Those people deserved to lose all their money for making stupid “investment” decisions. People in America who bought blue chip stocks thinking they couldn’t lose also lost all their money. On the flip side the people who shorted those stocks doubled their money but may have had to cover the odd dividend payout here and there.

#170 Tony on 12.16.12 at 1:02 pm

Re: #133 baddog on 12.15.12 at 11:09 pm

Just sell the two rentals with the tenants in them. As for falling 50 percent it’s possible they could fall more than 50 percent. Evidence is many townhouses and apartments in Calgary and Edmonton than fell more than 50 percent from the 2007 peaks and never recovered one iota in price since then.

#171 jess on 12.16.12 at 1:18 pm

same law with a new name
Michigan Passes Another Anti-Democratic “Emergency Financial Managers Law”
that last month on Election Day, voters repealed Snyder’s emergency financial managers law. (tom hartman on the news )

security was just a word was tested by a catholic nun
http://www.publicintegrity.org/2012/09/12/10851/how-82-year-old-exposed-security-lapses-nuclear-facilities

“natural extension of the distance.”
drone operators and pattern recognition/ will the eye in the sky become an algo
http://www.spiegel.de/international/world/pain-continues-after-war-for-american-drone-pilot-a-872726.html

The library of NRA/ALEC gun bills can be accessed
http://www.alecexposed.org/wiki/Bills_related_to_Guns,_Prisons,_Crime,_and_Immigration

lisa Graves summaries in this story
Big Money, ALEC and the Gun Agenda
Sunday, 16 December 2012 07:24
By Lisa Graves, PR Watch | News Analysis
truthout.org

#172 Doug in London on 12.16.12 at 1:30 pm

@kris, post #130;
Very few gents over 50 actually are dumb enough to get housing or stocks you say? I’m over 50, and you’re right about not buying a house but wrong about stocks. Stocks beat the hell out of cash because 1) even big blue chip, bore you to tears company stocks pay a better yield than cash and we older gents are quite concerned with yield should we actually want to retire some day, and 2) stocks are still cheap and have been even cheaper during the period between July 2011 and now.

#173 Steven Rowlandson on 12.16.12 at 1:35 pm

There are 2 possible problems related to the recent shootings. Bad people who kill with out justification and bad people who organize, council and supply the shooters in order to justify legislation and property theft or confiscation.
The vast majority of people who have guns should not be punished or inconvenienced in any way because of the offences of a minority or some groups BS political agenda. Thou shalt not punish the many for the crimes of the few or the one.

#174 Austrian school on 12.16.12 at 1:37 pm

This guys sums it all up pretty well. If you care to take a look its only 13mins.
The story of your enslavement.

DELETED

You attempted to post a vid of death, injury, torture and the abuse of animals. You are no longer welcome here. — Garth

#175 think about it on 12.16.12 at 1:51 pm

@ the assorted gun nuts on the page

The shooter went in wearing a bullet proof vest. He was expecting to get shot at. In other words, the thought that someone might shoot him was not a deterrent. He wanted to die in a hail of bullets. When he wasn’t obliged, he shot himself.

More people with guns would simply ensure that more innocents died. Imagine the scenario: you’re in a school, you hear shots fired. You get your kids hiding under their desks, then pull your concealed carry and enter the hallways. You come around the corner and see another guy with a gun. It’s a coworker and you’re only a little surprised. You just knew that asshole would snap one day. You’re going to be a hero. These thoughts fly through your head in the milliseconds before you shoot him. Meanwhile, the actual shooter (who’s wearing a bullet proof vest under his shirt and is possibly yet another co-worker) comes up behind you and shoots you in the head.

How do you tell one guy with a gun from another guy with a gun? When your adrenaline’s hot and every nerve is on edge? At least police officers wear uniforms.

#176 Victoria Tea Party on 12.16.12 at 1:54 pm

#119 Jim H YOU MUST BE SHORT OF YOUR VITAMINS!

The “per 100,000 population” canard is a fool’s paradise cooked up by various “agencies” to either justify or sermonize on any number of topics and issues, including murder rates in various countries.

SO WHAT!

You tell that silly nonsense to the grieving parents and other relatives and friends of those 20 dead Connecticut school kids and wait for a reaction.

In other words figures lie and liars figure.

The Toronto gang shooting and the Marois incident were fatal and therefore very bad.

But the US, the alleged leader of all things civil in Western civilization, is an ongoing very sad story whose final final has yet to be worked out by the citizens therein.

Since last week’s school shooting there have been others, but not in schools. Some yielded dead people and, fortunately, one nut-job in California missed everyone he rapped off 50 rounds in a shopping centre parking lot, Saturday!

The Yanks and their guns. It’s a culture to be sure. Their Second Amendment says so. God Bless America in its time of yet more gun barrel turmoil.

Prediction: Friday’s massacre will be forgotten about by the time the Golden Globes dinner is held and prizes handed out to giddy movie stars!

#177 kris on 12.16.12 at 3:02 pm

Mr Turner
Thx for the reply.

Those institutional investors have actually people’s money to invest. Retires have been withdrawing money from stocks into bonds or even savings accounts in USA.

I live in Toronto but read mostly US blogs. I can’t see how canadian institutions would force people to move from bond funds to stock funds. Everybody is scared from 2008 and the volatility since.

I am just using the same logic you have but am drawing different conclusion. I see zero chance for any move to stocks until DOW goes down to 6000.

Thx a lot of this blog. I’ve learned immensely and use you as reference in my conversations with friends, but this time I felt obligated to comment and disagree.

Whether you and your retired friends move from bonds to growth assets or not, you can count on bond prices falling and your bond investments losing money. You are forewarned. — Garth

#178 Old Man on 12.16.12 at 3:12 pm

I saw a listing a few months ago that was too good to be true, as this was an older gem all renovated with the best, and was 4 bedrooms turned into a legal duplex for a bargain near the corner with direct access to the main street. Never look at any subject property without hitting google mapping for the satellite view, and street viewing.

So took a trip around the neighbourhood on my harley to see all the important items that affects asset value, and guess what? All looked good except for one thing as there was a sign just 50 feet away from the subject property that led into the main street saying do not enter one way street; thus from the bargain could not leave or enter legally. OMG, such a bargain!

#179 Old Man on 12.16.12 at 3:50 pm

#177 kris – bonds will fall as interest rates will move higher eventually, and bond interest is fully taxable; not to mention that GIC’s are suicide because the after tax rate of return becomes a loss of capital. The way to go is with preferred shares somewhat with blue chips to get about 5% with the dividend tax credit, as they are liquid, and can be kicked out with a one minute phone call if one panics.

#180 SeriousMoney on 12.16.12 at 4:08 pm

Same story, different year. Yawn.

#181 Austrian school on 12.16.12 at 4:17 pm

DELETED

#182 rosie on 12.16.12 at 4:40 pm

#147
So true. The comments and suggestions re. the news from Friday are neither useful nor asked for by most readers of this blog. A moratorium on discussions of that event on this blog is in order.

#183 Dividend Yield Investor on 12.16.12 at 4:43 pm

Guns aren’t the problem. It’s the drugs. Pharmaceutical companies don’t want people to know that and will spend a lot of money to keep a lid on it.

Maybe Americans are depressed because morally superior Canadians keep crapping on them. — Garth

I’m American as Mom’s apple pie and I’ve wondered about the extreme use of psychotropic drugs being prescribed to our children and young people.

I hope that the long term usage is being studied and if found negative not being swept under the rug. It unfortunately would not be the first time. There are many in the medical world [I have a few buddies who are Docs] would like to see Oxycodone de-invented.

Anyway that is my two cents worth and besides I think this blog has something to do with Canadian RE.

Best Wishes,
Dividend Man
Atlanta GA

#184 Dividend Yield Investor on 12.16.12 at 5:12 pm

I’ve subscribed for decades to A. Gary Shillings Insights.

Here are his forecast numbers for U.S. GDP [so goes U.S. so goes Canada].
2012 4th -0.2%
2013 1st. -1.5%
” 2nd -1.7%
” 3rd -2.1%
” 4th +0.1%

2014 1st +0.7%
” 2nd +1.1%
” 3rd +1.3%
” 4th +1.6%

If this is correct and that the U.S. is in recession then look forward to upcoming fireworks in the stock and Treasury markets.

I’m forecasting a 40% drop in the U.S. stock market(1465? S&P500) and 10yr and 30yr Treasury bonds to dip below 1% and 2% respectfully. Of course this is just one man’s opinion and what you do with your dollars [Canadian or U.S.] is up to you.

Best Wishes,
Dividend Man
Atlanta GA

#185 Dividend Yield Investor on 12.16.12 at 5:27 pm

#85 AK on 12.15.12 at 2:57 pm
The US will not slip back into recession next year.
Enough said.

Sorry Ak the U.S. is already IN recession!

Dividend Man
Atlanta GA

Maybe Atlanta. Not America. — Garth

#186 Julia on 12.16.12 at 5:35 pm

Well Garth, I used to find the comments section of this blog entertaining and informative. Lately reading these posts is making me scared to leave home. I was much happier walking the streets in my naive bliss, not knowing what was going on behind all the sunglasses.

I am about to kick the deviants to the curb. Only normal people like you and me, will be left. — Garth

#187 Old Man on 12.16.12 at 5:41 pm

Smoking Man all is not lost for you, as have this Amish family in KW that have a daughter that needs to get hitched. This might mean kicking your old lady under the bus for a better life, but is not a looker. So they cut the daughter 500 acres; built her a new home 4000 sq. ft. and a new barn as well. Smoke you can have it all, and the farming potential can bring in a huge amount of cashflow too.

#188 mel in victoria on 12.16.12 at 5:55 pm

CYNICALLY wrote on 12.16.12 at 3:57 am

“#120 – mel in victoria – must be payback time, eh mel?”

Wasn’t my post Sweet Cheeks…..just agreeing with original poster….have a nice cynical Sunday…

#189 Hoof - Hearted on 12.16.12 at 6:11 pm

#187 Old Man on 12.16.12 at 5:41 pm

Smoking Man all is not lost for you, as have this Amish family in KW that have a daughter that needs to get hitched. This might mean kicking your old lady under the bus for a better life, but is not a looker. So they cut the daughter 500 acres; built her a new home 4000 sq. ft. and a new barn as well. Smoke you can have it all, and the farming potential can bring in a huge amount of cashflow too.

===================================

Yeah..better hurry up before John Baird finds out.

#190 Ralph Cramdown on 12.17.12 at 12:17 am

#189 Hoof – Hearted — Amish […] daughter — Yeah..better hurry up before John Baird finds out.

Eh, what? But Vic Toews promised ME an autographed first edition of “How to Give the Wife the Boot, Knock up the Babysitter and Live Happily Ever After in the Bible Belt.” It’s out already?!?

#191 Buyer on 12.17.12 at 3:47 am

Thank you Garth for the cue on blend-and-extend. Just wrote to my Bank advisor. I have 18 more months to go on my term (I pay 4.1% now). I’ll try to do what you recommend…

#192 Gotthardbahn on 12.17.12 at 10:09 am

I just don’t get it.

Turner keeps saying condos are about to crater in Toronto and he trots out a bunch of stats to support it, yet within a five-minute walk of my (rental) apartment at Young & Eligible in Toronto there are four – FOUR! – condo developments, three announced and a huge one currently being excavated. One of the announced projects is a twin-tower fantasy totaling over 100 floors. So what do these builders – and their bankers – know what we poor proles don’t? Like I said before, I just don’t get it.

#193 Chet Sanders on 12.17.12 at 3:30 pm

#88
mm, mm, I ain’t readin’ all dat