Out there

sale1

When the reporter in Edmonton called, it sounded like a big story. “They sure are bullish,” she said, “and we want your comments.” I listened to her for a while then offered that if Edmonton was a serious city, this wouldn’t even be a story. But it isn’t. And it is.

So on Thursday, in advance of snow and -23 overnight temps, 700 realtors crowded into the Northlands Expo Centre to hear the head of their cult, Dear Leader Darrell Cook, give the real estate board’s 2013 forecast. “You realize,” I asked, “that this is a sales-oriented trade organization pumping its own product in the middle of a slump? What’s the news?” The CBCer responded, “That’s why we’re talking to you.”

And I suddenly realized there is life after Global.

For the record, the cartel’s trying to make Edmontonians horny again by telling them that both sales and prices will be higher this year. DL Cook said average prices will climb by 2% and sales by a greater amount. “We are positioned in the best economy in Canada and perhaps the world,” he boasted. “It is hard to make a restrained forecast when we have job growth, in-migration, low vacancy rates and continuing low interest rates.” So he didn’t.

Detached homes will go up this year, he said. So will condos. And semis. Even sales of vacation houses will take off, “as the prices of properties in sun belt destinations recover and local recreational properties become more comparable in price.” Of course. Why buy in southern California when you can veg in Vegreville?

The only problem is none of this is likely to happen. The Edmonton market has been losing momentum by the week. Sales in December were 31% lower than in November, and 17% behind the same month a year earlier. The city’s experiencing the same buyer drought that’s hit Vancouver and is assaulting Toronto and Montreal. Listings have shrunk 19% and the average house price, at $333,140, is 4% less than it was seven months ago.

Despite the oil sands, cheapo sales taxes and hot times for engineers, Edmonton is not immune to the forces which have real estate on its heels everywhere. There’s a reason condo prices have cratered and agents are looking for second jobs. And why the realtors cartel is seeking to divert attention from what is to what they hope will be. But if I lived there, I’d pretend a lot, too.

Now, let’s savage Winnipeg for a few moments. Poor Peg, where hockey is high culture and people are trapped underground beneath a frozen downtown.

But at least something’s smoking: “Homes market still hot in city” said the Free Press this week. Another city. More out-of-work realtors. More pumping and misleading media reports. As the local board did its year-end thing this week it managed to scale new heights of hyperbole on the white prairie.

“To finish as well as we did, given tighter mortgage regulations and regular national media calls for softer real estate markets, it is testimony to the resiliency of the greater Winnipeg real estate market and our Manitoba economy in general,” said Shirley Przybyl, outgoing president of Winnipeg Realtors. “Winnipeg just kind of goes to its own beat,” added Peter Squire, the association’s residential-market analyst. “It just delivered another really solid year. Sort of like a blue-chip stock.”

Hmm. Some stock, with prices and sales on the decline. The number of deals done in December tumbled 12% from the same month a year earlier, which is definitely not encouraging. In fact, sales for the entire fourth quarter of the year slumped 7%. So when the board trumpets that 2012 saw almost as many houses changing hands as in 2011, you know the activity was front-end loaded in the Spring market. It’s the same pattern as in Edmonton, Vancouver, Toronto and Montreal – a daffodil frenzy followed by a long season of second thoughts and buyer remorse.

Winnipeg isn’t different. Just dangerous. House prices have essentially doubled in the last decade, far outstripping incomes. Meanwhile the city’s growth rate has fallen behind the national average, while the household income of $74,500 is 18% lower than that of Edmonton. It’s regional markets like this, where real estate board fluff pieces turn into front-page news, that people make seriously dumb decisions.

Last year 24 houses sold in The Peg for more than $1 million. Two changed hands for over $2 million.

“To me that speaks of confidence in the city as a whole when you see people spending those kinds of dollars in the local housing market,” the realtor boss says.

To me it speaks of delusion. Did I ever mention this will not end well?

194 comments ↓

#1 Derek R on 01.09.13 at 10:00 pm

Well it’s good that the CBC want to talk to you anyway!

#2 Rawd on 01.09.13 at 10:03 pm

First!

#3 FTP - First Time Poster on 01.09.13 at 10:08 pm

Im surprised that state owned enterprises are allowed to speak to those that have been banished from the colony!

Must be the beard.

#4 Giacomo Bill on 01.09.13 at 10:11 pm

second!

#5 -=jwk=- on 01.09.13 at 10:13 pm

We missed a step!wait! We’re supposed to go from steady growth to low growth but at slower rate and THEN we go to flatline. Ive been to this rodeo before….

#6 DaleFromCalgary on 01.09.13 at 10:21 pm

Meanwhile, notwithstanding realtor boosterism, the price of natural gas stays in the toilet and the Alberta government is borrowing money again. The wells I’m invested in are choked back to bare-minimum required to pay for maintenance and pipeline tolls. However we found a workaround. Right now we’re moving a skid-mounted electrical generator to a quarter-section where the natgas will be burned for electricity and sold to Fortis. We figure our return will be $7.50 per gigajoule burned as electricity, as opposed to 90 cents as shipped natgas.

But we’re not hiring and few companies are outside Athabasca. The engineering design is done Stateside and the fabrication of big components overseas. Our generator is German-made. Those who say Alberta is different don’t understand that the intellectual jobs have gone out of the country. Those tradesmen are just assembling foreign-made parts.

Edmonton and Calgary realtors are not selling to new oil money. They are selling to young and stupid couples who haven’t heard the news.

#7 Randy on 01.09.13 at 10:27 pm

Ugly realtors can try welfare….Good-looking realtors can become peelers…and collect welfare to supplement their incomes…

#8 furst on 01.09.13 at 10:29 pm

#191 Dr. WAYNE on 01.09.13 at 6:42 pm
#167 Penny Henny on 01.09.13 at 4:21 pm

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

Hey Furst and Jim Bob … Ms. Hen is sure pissed at us to warrant the ‘feared’ DELETED label. Yet ANOTHER one who has a very limited grasp of humour and the study of human responses to statements made on blogs such as this.
_________________________________________
Dr. Wayne, stop sucking up to me. You called me an A$$hole and I didn’t take it and took you out to the woodshed to teach you a lesson. Now you’re intimidated of my stature and at the same time respect me. Plus the ladies love me.

#9 Bob on 01.09.13 at 10:32 pm

The nice man on the television said it would be pleasant comfortable cruise.
http://www.youtube.com/watch?v=MnoTj7Jx4L4

#10 Dr. WAYNE on 01.09.13 at 10:40 pm

#2 Rawd on 01.09.13 at 10:03 pm

First!

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

All together now …1…2…3… YOU ARE AN ___________ .

#11 Djb on 01.09.13 at 10:53 pm

As a mortgage broker for the past 7 years, I am off to see a career counsellor next week.

Just another part of the herd being culled in Vancouver.

#12 Bo Xilai on 01.09.13 at 10:56 pm

Garth,

(Unfinished) homes are also smoking (literally) in Fairmont, BC… Looks like arson is suspected in an unfinished 5 condo project. The project was started 6 years ago, but never got past the framing stage.

http://www.cbc.ca/news/canada/british-columbia/story/2013/01/07/bc-arson-suspected-condo-fire.html

#13 Grim Reaper/Crypt Speculator on 01.09.13 at 10:57 pm

I let everyone ahead of me at this juncture be FIIRRZZSSSRRT-ers…(and got a tax deduction for such charitable generosity)

#14 Money talks on 01.09.13 at 10:57 pm

It gets better Garth, same Winnipeg Free Press writer, new headline…one day later:

“Housing cools, but still warm”

http://www.winnipegfreepress.com/business/housing-cools-but-still-warm-186128382.html

(from yesterday’s paper: Homes market still hot in city
http://www.winnipegfreepress.com/breakingnews/homes-market-still-hot-in-city-a-solid-foundation-185978812.html

Looking forward to what his headline is tomorrow!

#15 Keith in Calgary on 01.09.13 at 11:00 pm

When those who have the greatest vested financial interest start to suddenly sing loudly, and in chorus, that “there is nothing to see here”………….you best be advised to put on your X-ray spec’s to help you better see right thru these liars, cheats, frauds, and conmen who populate the “real estate industrial complex”……..

For the moment of “greatest financial risk” in the “denied bubble” has appeared.

#16 Lily joe on 01.09.13 at 11:10 pm

I think we all realize these spokes people for real estate would be stripped of their titles if they spoke the truth. It never hurts to form your own opinion ;)

#17 Humpty Dumpty on 01.09.13 at 11:14 pm

Yeap… way out in left field…

“The Commission President, Mr. Barroso, said yesterday (paraphrased), ‘The euro crisis is all over. Everything is fine and dandy. So you can pack your bags, euro skeptics, and go home. There is nothing to see here, move along now.’ Well, I can only conclude that he’s an idiot. I mean, what other conclusion could one possibly draw?

http://kingworldnews.com/kingworldnews/Broadcast/Entries/2013/1/9_MEP_Nigel_Farage.html

#18 DA why don't you mention all the foreclosures in Kelowna too! on 01.09.13 at 11:15 pm

DA I think you might need a spanking… Here’s DA ‘s rebuttal to the challenge below – I’m paraphrasing -“The challenge is just too hard for my remedial mind to research boo hew. Please don’t make me, even though it would take less than 3minutes to write a simple query in MLS.ca and get the answer!” … get a pair buddy and start to man up. Unless of course you’re a girly man already. And stop whining that its too hard to do. I and many others commenting on this blog still expect you to do it.

+++
#75 };-) aka Devil’s Advocate on 01.04.13 at 2:24 am

Now DA…are you going to man up here and accept the challenge below or just cower and slither off into the morass you call your ethics.

Here’s the challenge in case you forgot given to you 01.04.13:

“Here’s a challenge for you DA since you’re telling us how healthy the Kelowna real estate market is, why don’t you also tell us the total number of million dollar houses that have fallen into foreclosure from the time they were first listed. Say within the last year to keep the number manageable …. remember to be honest and ethical its part of your New Years resolutions.”

You know DA we’re starting to hold you to higher standards … so far you’re not living up to your New Years resolution…but there is time for you to recover. I’m sure you can do it.
++++

Until we all see that result from the challenge I’ll start posting the real Kelowna… here’s one folks, its in foreclosure and has had a 30.1% price drop.

http://www.realtor.ca/propertyDetails.aspx?propertyId=12684185&PidKey=-458730248

The owner bought this for $872,640 and it went into foreclosure. I’m sure DA is best buds with the people who sold it to the sucker as an investment in the first place; unethical people are attracted to unethical people. Low and behold the price started dropping: June 30, $679,888; Aug 6th, $649,000; Dec 20th $629,000 and finally today’s price January 9th, $609,900. That my fellow readers is a 30.1% drop.

I currently wouldn’t buy this place because the strata alone would kill you. Here’s the annual strata fee’s $872.64 *12 = $10,471.68 and then the property tax on top of that is $4,103 for a grand total of $14,574.68 That’s a hell of a nut to crack every year on top of the mortgage payments. Much, much better to rent this one folks.

Now DA would say privately to you as a buyer to buy it because its good value…remember everyone, he has a bit of a challenge with ethics and a fat commission is mighty hard to turn down. I say DON’T BUY ANYTHING IN KELOWNA , not unless you want to lose principal…be patient, prices will come to you. The example I just brought you is the true Kelowna and in 2013 as that real estate truth becomes less opaque the baby boomer citizens of Kelowna who are on the verge of retirement will have an epiphany and housing prices will start to plummet here. For Kelowna its only just begun. Since DA has ethics problems about bringing you news about foreclosures in Kelowna I’ll be happy to, until DA comes around to our way of thinking and rises to the challenge.

Remember DA this year we are working on your ethics….sort of like a realtor intervention… I believe in ya, but so far you’re a big, big disappointment… man up girly man! We’re still waiting on the results of that challenge, remember you have the massive computerized power of the MLS.ca database, I only have a measly little spreadsheet. I’m sure even your remedial mind could write that simple query, if not get your assistant to do it or better yet just give me your password to MLS.ca and I’ll do it.

#19 not 1st on 01.09.13 at 11:17 pm

Canada is facing a weird set of circumstances in its crude business. With no new pipelines in the works to feed the markets that want our oil, namely Asia, we are still relying on ol uncle Sam to buy our wares.

Except that U.S. is on its own path to shave oil imports to nil in the coming decade. Fracking, biofuel, North Dakota, Alaska, shale oil and natural gas and a doubling of gas mileage standards coming in the next while are going to shake Alberta up big time.

If we don’t get this stuff offshore soon, we might be at sub $50 oil in the near future or trade at a deep discount.

#20 Edmontonian here on 01.09.13 at 11:17 pm

Although condos are selling for an average of about $23,000.00 less in Edmonton last month then the peak in June, I think that people have been holding out, pulling off the market and re-listing to try to sell without losses form the huge prices we say in 2007 that never recovered from, almost 5 yeras later.
Houses from $129,000 now in the city and they’ve been listed for months with no movement. My firends mother just retired and planned on getting huge equity out of her condo she bought in 2005, she bought if for $150,000 and they were selling for $289,000 in june 2007. After 4 price reductions she finally sold for $170,000. Since ALberta has NO STANDARDS for building envelopes, she also had to pay a $34,000.00 assesment due to moldy walls and window sills, in which the building exterior had to be completely redone.

So, after 7 years, she will sell her two bedroom, 2 bath condo with a $14,000.00 investment loss.
It ain’t so differnt in Alberta than the US turndown from what I have seen. Also, I know 3 people who have gotten assestments for moldy buildings, it’s very wide spread here in Alberta!

#21 Soylent Green is People on 01.09.13 at 11:18 pm

I,m so digging this whole #idlenomore and harpy could not have more egg on his face at home and internationally ha ha

……..

And then Fraser gets to the nub of the problem that Deloitte describes, but fails to explain. It is the issue of the onerous and inappropriate level paperwork, record-keeping and reporting, an issue Fraser had raised on many occasions with the Department of Aboriginal Affairs, to no avail:

“Contribution agreements involve a significant reporting burden, especially for small First Nations with limited administrative capacity. Communities often have to use scarce administrative resources to respond to numerous reporting requirements stipulated in their agreements. We followed up on Aboriginal Affairs efforts to reduce the reporting requirements of First Nations and found progress to date to be unsatisfactory…”

http://rabble.ca/blogs/bloggers/karl-nerenberg/2013/01/true-scandal-first-nations-funding-not-deloitte-and-touche-ver

.

#22 Tron on 01.09.13 at 11:18 pm

Randy on 01.09.13 at 10:27 pm
Ugly realtors can try welfare….Good-looking realtors can become peelers…and collect welfare to supplement their incomes…
——————————————————–

Wow, that is really cool insight. Does everyone in your trailer park share a similiar opinion?

#23 Mithan on 01.09.13 at 11:26 pm

Royal le page said the Regina market would increase 6% this year.

It might happen, but it’s my view we won’t bust until 2014/2015 anyways.

Housing more than doubled here in the last 8 years…

#24 Bottoms_Up on 01.09.13 at 11:30 pm

#208 Freedom First on 01.09.13 at 8:45 pm
———————————————–
There are 7 billion organisms in your left nostril and 7 billion insects in your backyard. Are you an expert on the carrying capacity of the earth? Where is your evidence to suggest that 7 billion humans is somehow detrimental (to our survival? to the earth?)? Have you ever left your mother’s basement and driven across Canada? I have; did you know that the amount of space humans take up shoulder to shoulder, we could all fit within 500 sq miles, the size of the city of L.A?

http://news.nationalgeographic.com/news/2011/10/111031-population-7-billion-earth-world-un-seven/

I find my thinking quite rational. You find it disturbing. Perhaps you would feel Larry Pratt offers a rational approach to gun control in America.

A greater level of genetic diversity is achieved by having more members of our species in existence; this is essentially our evolutionary protection against things that might wipe us out. Until there is overwhelming evidence that the risks of having 7 billion humans on the earth outweighs the benefits, I will continue to believe that population growth is a good thing for our species.

#25 Michelle on 01.09.13 at 11:30 pm

I live in a very nice mature area just west of downtown in Edmonton Alberta. There are so many seniors ( all very friendly) who can’t wait to sell and be free of snow shoveling and lawn mowing. Many I’ve talked to plan to sell in the spring while interest rates are low so buyers can afford a higher price. I wonder how many other thousands of seniors will be waiting to sell next spring?! And what will this do to an already sketchy market?

#26 Sydneysider on 01.09.13 at 11:31 pm

“The city’s experiencing the same buyer drought that’s hit Vancouver… Listings have shrunk 19%.”

That would be a seller “drought” then.

#27 AWD on 01.09.13 at 11:32 pm

Another well-built condo!
http://ca.news.yahoo.com/calgary-family-rescued-flooding-elevator-174810557.html

#28 Trustee on 01.09.13 at 11:33 pm

Step 1. Collect underpants.
Step 2. ?
Step 3. PROFIT

#29 Vancouver Special on 01.09.13 at 11:37 pm

It stopped raining here, but I need a new umbrella anyway because another cloud is on the horizon.
The old one has a leak….

#30 FTP - First Time Poster on 01.09.13 at 11:38 pm

So about the US housing recovery…..

http://www.zerohedge.com/news/2013-01-09/guest-post-america-meet-your-new-slumlord-wall-street

#31 furst on 01.09.13 at 11:46 pm

After much thought and consideration, it pains me so but I’ve decided to no longer post to Garth’s blog. As great as this blog is, it’s time for me to leave on a high note, my reputation cemented as one of the greats. My impact has been felt by all readers and Garth too. I bid you good night and farewell. Happy posting all and may the RE gods be with you always.

#32 CalgaryBoy on 01.09.13 at 11:51 pm

http://www.ctvnews.ca/video?clipId=840525

A video on the Edmonton Housing Market. I love how the lady who’s going to purchase a house for her mom said, “this is the thing to be doing because we know that our house is only going to grow in value, right?”

Yeah, she’s purchased one for herself and now one for her mom. She must be rich!

#33 wykidajlo on 01.09.13 at 11:53 pm

#24 Bottoms_Up on 01.09.13 at 11:30 pm
Simple math. It speaks for itself.

http://www.youtube.com/watch?v=umFnrvcS6AQ

#34 Cowpie on 01.09.13 at 11:54 pm

#24 Bottoms_Up on 01.09.13 at 11:30 pm
“A greater level of genetic diversity is achieved by having more members of our species in existence; this is essentially our evolutionary protection against things that might wipe us out. Until there is overwhelming evidence that the risks of having 7 billion humans on the earth outweighs the benefits, I will continue to believe that population growth is a good thing for our species.”

Ditto that! Glad you said it, I couldn’t agree more.

#35 Bashful renter on 01.09.13 at 11:57 pm

Alex Jones is on Piers Morgan. CBC wants Garth. The times they are a changin’.

#36 Out there — Greater Fool – Authored by Garth Turner – The Troubled Future of Real Estate « The Affluent Boomer™ on 01.09.13 at 11:57 pm

[...] via Out there — Greater Fool – Authored by Garth Turner – The Troubled Future of Real Estate. [...]

#37 TurnerNation on 01.10.13 at 12:04 am

Somebody buy Shirley a vowel!

#38 Stew on 01.10.13 at 12:06 am

It baffles me to no end. Idiotic people wishing that our housing should go up..A real living need. That’s like cheering for food, gas, healthcare, clothing or your ipad to skyrocket in price. Hip Hip Hooray! I’m so happy. It cost more to live!
The world is bizarre. Aliens must look down and state, look at these dumb humans hoping a roof over their head costs MORE..INSANITY at its best!

#39 K on 01.10.13 at 12:07 am

Furst

You have way too much free time on your hands !

#40 Grim Reaper/Crypt Speculator on 01.10.13 at 12:11 am

#10 Dr. WAYNE on 01.09.13 at 10:40 pm

#2 Rawd on 01.09.13 at 10:03 pm

First!

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

All together now …1…2…3… YOU ARE AN _______.

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

How many guesses do we get__________ …….A$$HOLE

OOOPS ***** Code Blue*****

Dr Wanker has myocardial infarction … DNR……Potential Organ donor…..(OOPS…nothing of value….put in green recycling can ….and hope they will take away)

#41 Cory on 01.10.13 at 12:17 am

Realtors really aren’t that smart. The more they pump, the more regulatory changes / tightening will come. Rather than almost spewing the fact the govt’s changes didn’t work (wrong again) and almost throwing it in F’s face as if to taunt him, the smart thing to do instead of manipulating their own stats is to stay below the radar so no more changes are thrown their way to further “dampen” this never ending upward bound (big LOL) market……

#42 Wally Wingnut on 01.10.13 at 12:35 am

#3 FTP
The CBC is not really a state owned enterprise. (funded partially by the state). It is a mouth piece of the corporate elite that run all our politics. All levels of our governments are corporate puppets and the CBC is just another faithful servant of the puppet masters. Stay tuned for more bullshit.

I like your name. — Garth

#43 squidly77 on 01.10.13 at 12:38 am

The current price for Tar-Pit Tar mixed with paint thinner (dil-bit) is $56.75 BBL http://www.dailyoilbulletin.com/

For the the rest of the province its basically the WTI price, that includes Syncrude, Suncor, CNRL and Shell Albion which is upgraded at Fort Saskatchewan. Upgraded bitumen Oil gets WTI pricing, dil-bit does not because its not Oil its Tar.

Alberta produces approx 1.5 million BBLs MORE daily than it did when Ralph Klein cleared Alberta’s debt and Oil was at $20 BBL. This Province is in a world of trouble under the currently controlling Liberals dressed up as PCs. This also will not end well.

Alberta home prices and sales are so feeble that they have been unable to regain sales and price levels seen during 2007, all this while the rest of Canadas housing stock has risen in price anywhere from 15-35%. The Alberta housing bubble ponzi shim sham scam is dead.

Any comparison to the weak years of 2008-2012 is mute, Calgary real estate sales are running at 2002 levels, in 2002 Calgary had 225,000 fewer residents.
2012 Calgary home sales were about 22,000

Listening to the local cartels in Alberta almost makes me gag. Total Bull.

Heres a list of Edmonton foreclosures Just click on the links
I could list many more but whats the point.

Alberta’s been toast for 6 years and counting. House prices cant even keep pace with inflation and realtors are starving to death, many cant adjust or don’t understand the severity of the situation and sit stunned by their silent phones and are making less than the burger flippers at rotten ronnies.

#44 renters rule on 01.10.13 at 12:52 am

@ #9 Bo Xilai

google arson stories in the lower mainland area in 2008-2009 (i.e., when the last housing implosion started before the “emergency interest rates” started the next artificial leg up)…. multiple new condo/townhouse sites were going up in flames, Surrey, Richmond, you name it….

#45 Saskatoon-Living on 01.10.13 at 12:53 am

Here is some more info for your “Saskatoon is on Crack” post.

http://www.thestarphoenix.com/business/Housing+market+stay+strong+2013/7793585/story.html

#46 cramar on 01.10.13 at 12:54 am

There has to be something in the water in Winnipeg! Yes it has to be in the water that produces such mass delusion. Vancouver has the climate. Calgary/Edmonton has oil. Toronto has commerce. But Winnipeg?? It has wind, cold, and crime. Must be in the water when it floods in Spring.

#47 NoOneOfConsequence on 01.10.13 at 1:03 am

I JUST GOT THE ASSESSMENT!

$651,000 for a 5 bedroom and home with 2 bedroom suite in beautiful Surrey, B.C.
Last year……wait for it……….$618,000!
Wahoo! Up $33 grand!
See ya later losers….ima extend my heloc and go to the bar!
pfffftttt…..downturn. Im wasting my time here.

Its different at my house.

#48 Fed-up on 01.10.13 at 1:17 am

@ #38 Stew

——————————————-

Bingo!

#49 Red Deer Cave Man on 01.10.13 at 1:21 am

Reading the AB papers here regarding RE makes me want to puke!!!!! Worse than used car salesman… Sorry!! sales associates

#50 Jsan on 01.10.13 at 1:32 am

Probably what most people don’t realize is that the energy dynamic has changed considerably in Alberta just in the last few years. We went from being one of if not the top Nat Gas dogs in North America to being a nobody. 5 years ago the US was literally talking about building huge LNG ports to bring in natural gas as they were dry and Alberta was raking in a fortune because of it. Fast forward only 5 years and the discovery of fracking and the US now has estmates of almost a Century worth of natural gas reseves. Alberta very quickly became considerably less important.

Add to this the price of WTC oil. It may be worth 90 dollars on wall street but Alberta is getting barely half of that for their heavy crude. We have oil but nowhere to ship it as the fracking oil boom is taking over the US pipeline capacity once dominated by Alberta crude. Just today i read a headline stating how US oil production is booming while demand continues to drop. Thy are even predicting energy self sufficiency in the US in the future. This was unheard of just a few years ago. This is making the oil sands less and less important in the big picture. A relative who is in a pretty high position for one of the big oil sands players is openly worried about where his job may be in the not overly distant future. Again, this would have been unheard of just a few years ago.

You can also add to this a cancer stricken Hugo Chavez who has shut the oil companies out of the huge oil reserves of Venezuela. The fellow that ran against him in the very recent elections lost by a hair to Chavez and he is ver pro opening the country back up to the foreign oil producers. This is ver troubling to Alberta producers as they can enviaion an exodus of Investment in Alberta back to Venezuela if/when Chavez loses his battle with cancer.

#51 TNT on 01.10.13 at 1:38 am

You hit the NAIL ON THE HEAD Garth. In Edmonton we’ve got cute houses that have been on sale since last summer, and are under $130,000.00, and no one is interested!
Check this example out! http://www.realtor.ca/PropertyDetails.aspx?&PropertyId=12474264&PidKey=604772939

#52 FYI on 01.10.13 at 1:39 am

http://edmontonrealestateblog.com/

#53 Dan7 on 01.10.13 at 1:41 am

Garth you have to watch this video:

Its titled: There Will Be No Economic Recovery. Prepare Yourself Accordingly.

http://www.youtube.com/watch?v=bYkl3XlEneA

#54 Nostradamus Le Mad Vlad on 01.10.13 at 1:41 am

-
Out there? I had long been under the impression that Edmonton was the capital of Greenland, located somewhere in the sea. But I digress. 6:49 clip
*
Lottery Winner This is where the lawyers love it, esp. if they extend court proceedings; Superpower? With 128 mln. citizens on on govt. programs, it is doubtful; Orwellian EUSSR wants access to all Brit. drivers, yet brussels fear Poverty Trap for half of Europe; 3:50 clip Bugger the banxters– they don’t give an arse! Gold and Silver in 2013 Chinese wall supports it; Morgan Stanley Axing 1,600 banxters; Chinese exports ahead by 14%; World’s personal tax rates; Railroads Remember a few days ago why Gates and Buffett were advocating railroads over pipelines? Hot Debtcakes and We Want Our Debtcakes! Grainy Profit, but nice.
*
Professor An English view on Sandy Hook, which is a lot closer to reality than what the m$m tells us; Unlikely friendship Neat pic and story; Labradabrapoodle See pic; 1:07 clip Zorbing not recommended; 150 oz. steak Fries with that? Giant Boob of the Week Woody Allen may have been on to something about extraordinarily large mammary glands (gigantic boobs); The Church of Dracula All bones and no skin; Food Reminiscent of Nickelback’s lyrics, “. . . when we could feed a starving world / with what we throw away . . .”; Huge mistake if the west takes on Iran; Planetary Disasters “One hundred thousand years ago, a massive chunk of the Mauna Loa volcano cracked away from Hawaii and slid into the sea, launching a wave that rose as high as the Eiffel tower up the slopes of a nearby island.”; Weather Extremes -70 in Siberia a couple of weeks ago, and Oz is so hot it’s beyond belief, so Recycling Rainwater Collect first, use later; Vitamin M Never heard of it, Lavender soothes migraines, and Fibromyalgia; Galaxy Belching Don’t stand too close; Joe Biden Para. above pic is interesting; Death of the PC? Not for a few generations yet.

#55 Bailing in BC on 01.10.13 at 2:11 am

#22 Tron

“Wow, that is really cool insight. Does everyone in your trailer park share a similiar opinion?”

No they do not. I have been speaking with Ricky and Julian and they both think that ugly realtors should be allowed to be peelers too if they want. They don’t think they’ll make the same tips though.

#56 FTP - First Time Poster on 01.10.13 at 3:15 am

#12 Bo -. Saw those condos a yr ago last fall. Tyvek blowing in the wind, OSB weathered & starting to rot – visible from the highway. A true eyesore, but a true reflection of things to come

#57 Hurricane Sandy on 01.10.13 at 3:22 am

#6DaleFromCalgary
I agree with many of your comments as many people are unaware of situation in the oil/gas industry. Many companies will shut down gas wells with low prices despite good flows and this is very common at the present time. I know of one farmer in central AB who has two wells on two different quarters and they were drilled and are presently capped for last 4 years in anticipation of better prices. He is not unique in his situation. On that topic 2012 was a disastourous year for Oil and Gas stocks juniors, exploration and seniors. Overall the patch is not humming like media is portraying at the present moment. On the topic of houses I have relations in Edmonton and Calgary trying to sell their homes and has been a challenge with no success. The Edmonton house was listed in May and the Calgary home in November and no serious offers. Those houses could move perhaps with serious reductions but psychologically you want 2007 prices.

#58 Marko Juras on 01.10.13 at 4:22 am

#41 “Realtors really aren’t that smart.”

Listen buddy, I had to study very hard for a number of weeks to pass my real estate course.

#59 Buy? Curious? on 01.10.13 at 4:30 am

Garth, an Edmonton journalist from the CBC called you for your opinion? Are you sure it wasn’t a pair of Australian radio dj’s trying to prank you? I’ve got you on my Google alerts to see if I can get any of your comments in other publication and every morning I’m disappointed. Not because your message isn’t getting through but because I thought journalists are to present some sort of balance in the news that they’re reporting. The constant news about homes’ value going up 2% here, 3% there depresses me. To have constant propaganda forced down throats of unsuspecting, stupid, back-water, lumberjack inspired fashionistas, hockey worshipping, lining up to buy over priced beer, Canadians makes me tear up.

Oh well, I’ve got to go eBay and sell my Leafs tickets for 4x the amount I paid for them.

http://www.youtube.com/watch?v=8GANTyc8I7c&feature=player_embedded

#60 AK on 01.10.13 at 7:49 am

#2 Rawd on 01.09.13 at 10:03 pm

“First!”

An awesome accomplishment, indeed. Even though you came in a distant “Second”.

Fear not though, your valiant efforts did not go unnoticed as your coworkers will be taking you out for a deserving lunch today.

#61 Nukester99 on 01.10.13 at 7:52 am

Garth, I could not resist.

http://feedproxy.google.com/~r/DilbertDailyStrip/~3/5pTbi_N_Yt0/

#62 AK on 01.10.13 at 7:52 am

#1 Derek R on 01.09.13 at 10:00 pm

“Well it’s good that the CBC want to talk to you anyway!”

LOL. It’s good to see that our tax dollars are being put into good use.

#63 EIT on 01.10.13 at 8:06 am

It’s always hot times for engineers. It’s a sexy profession.

#64 Downtown on 01.10.13 at 8:15 am

Tried to extend and blend my mortgage and heres what the blue bank said – With your current term (3.65%) blended with our low rate 5 year fixed closed mortgage of 3.090% the result is 3.773% for the next 5 years fixed closed. You save the interest penalty by blending.
If you wanted the 3.09%, you would have to pay the penalty of $4,201.42. I looked at 3 year terms but the rates are even higher.
I couldn’t believe them charging me for my business. I have one year left. No inventive to sign early.

#65 Dr. WAYNE on 01.10.13 at 9:12 am

#31 furst on 01.09.13 at 11:46 pm

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

… a poster of ‘FIRST’ is toast … hallelujah …

Yes … your reputation IS cemented, as one of the ‘persistent’ a$$holes.

#66 Rishu on 01.10.13 at 9:15 am

*sigh*

Life of a Gen Y is looking grimmer everyday. Just looking at my facebook friends list paints a telling story. Majority of status being “looking for a job” from recent university graduates. Posted using their parents’ wifi on their iphone 5 most likely purchased using funds from their OSAP loan…

And we are supposed to be the generation financing Baby Boomers retirement by buying their homes and paying taxes? What a joke!

To be honest, we were a stupid gullible generation.

“Get a degree and you will enjoy a high paying job!” – High School Guidance Counsellor from the 90s

Right, all that did was create an education bubble and people taking stupid amounts of debts on useless degrees subsidized by tax payers.
http://rishu.ca/post/40121342821/top-10-worst-university-majors-for-your-career

Rishu

#67 Jsan on 01.10.13 at 9:21 am

#57 dale, my dads Edmonton house was just recently assessed at an increase over last year to the low 400k’s. This is quite ammusing when you consider that there are two virtually identical houses with identical size lots within two blocks that have been for sale for months and have both been listed for 50k less than what his house was assessed for. This is a very desireable older neighborhood where houses used to be snapped up within a week of listing.

The house assessments are a sham but than cities and municipalities have a ton of reasons as to why they want your house to have an inflated value. It’s all about tax revenue. The assessment means NOTHING, you want to know the actual value take a look at what the neighbors are getting for their listed properties. Not what they list them for but what they actually sell for.

#68 fancy_pants on 01.10.13 at 9:39 am

Given we talked this talk two, three years ago my biggest fear still remains that there are way too many deep pocketed players, from politicians to RE cartels, with a vested interest in keeping this bubble inflated such that it may be a long way before things “correct” to historical proportions.

I sold an investment condo back in fall 2007 expecting this to all unfold but instead rates dropped and the 0-40 mortgage was introduced, and other than a brief dip in spring 2008, prices blasted through the ceiling.

Although I have remained on the sidelines regarding investment RE still to this day, at this point I’m not sure what direction to expect given it is really a tug-o-war with some heavy players on the other end of the line.

#69 Jim Lahey, Sunnyvale Trailer Park Supervisor on 01.10.13 at 9:42 am

To my pals Furst and Dr. Wayne. I can’t believe it didn’t occur to me earlier but an appearance by the both of you in a debate at the TASTPGFBDCParty is in order. Furst, the park is still talking about your poetic readings at the SASTPGFBDCParty. Ricky says that when he is into his weed, your poems become a mystical union with the universe!

#70 fancy_pants on 01.10.13 at 9:49 am

geez, over 40 syndrome…years start to blend together…. it was fall 2008 I sold and the dip was in spring 2009

#71 Gotthardbahn on 01.10.13 at 9:59 am

Turner – Central banks will print as much money as is required to avert any sort of RE price correction, let alone a serious collapse. Too many members of the elite – politicians, bankers, homebuilders &c. – would be hurt by any sort of correction so it won’t happen. QED

Nice conspiratorial theory, but you’re wrong. And it’s too late. — Garth

#72 Yours for the hiring on 01.10.13 at 10:03 am

Sir Garth,

In order to reduce your workload so we can have more of your wisdom, I am offering you my services to delete all the Fiiiiiirst poop that reaches this blog. Give me the power, Oh Great One, and I will do the filtering for you.

#73 Otto on 01.10.13 at 10:16 am

Altogether now, the name Wayne is forever linked to the word A-you know the rest. Furst, are you leaving because Wayne has creeped you out? Garth, do something please, punt the wanker!

Sounds painful, but I see the logic. — Garth

#74 Penny Henny on 01.10.13 at 10:17 am

So when the board trumpets that 2012 saw almost as many houses changing hands as in 2011, you know the activity was front-end loaded in the Spring market. It’s the same pattern as in Edmonton, Vancouver, Toronto and Montreal -Garth

Of course it was front loaded. The annoucement about the change in mortgage rules made it so.
here’s a prediction!
Sales numbers for april, may and june 2013 with be lagging those in 2012.
doom and gloom, it keeps them coming back for more

I fail to see doom. This is information I would wiah to have if I were considering making an offer, and it will not be made available by the cartel. — Garth

#75 };-) aka D.A. on 01.10.13 at 10:36 am

#45Saskatoon-Living on 01.10.13 at 12:53 am
Here is some more info for your “Saskatoon is on Crack” post.

http://www.thestarphoenix.com/business/Housing+market+stay+strong+2013/7793585/story.html

Trying to refrain from getting into it with you Dawgs today and then I read crap like the above.

Only on this blog can you find such a preponderance of pathetically morose and pissy attitudes that can SPIN, yes ‘SPIN’ good into such bad. You accuse REALTORS®, bankers, the media and everyone else of ”SPINNING” when it is you dopes who are the most rampant purveyors of the tactic.

You all honestly believe it all to be lies. You’ve got your own heads spinning so dizzy with disbelief you don’t know up from down.

Here’s Just a quick sampling of your pathetic prejudicial mindsets;

“Yes it has to be in the water that produces such mass delusion.” – #46cramar on 01.10.13 at 12:54 am

“Reading the AB papers here regarding RE makes me want to puke!!!!! Worse than used car salesman… Sorry!! sales associates”. – #49Red Deer Cave Man on 01.10.13 at 1:21 am

“Probably what most people don’t realize is that the energy dynamic has changed considerably in Alberta just in the last few years. We went from being one of if not the top Nat Gas dogs in North America to being a nobody.” – #50Jsan on 01.10.13 at 1:32 am

“You hit the NAIL ON THE HEAD Garth. In Edmonton we’ve got cute houses that have been on sale since last summer, and are under $130,000.00, and no one is interested!.” – #51TNT on 01.10.13 at 1:38 am

And so it will go on and on and on and on for the rest of the day, the week, the month and the year and for you pathetic losers it will likely go one and one so for the rest of your pathetic lives. You see nothing but gloom and doom. You see no optimism in your lives. You are stuck in a purgatory of your own making. Man it must SUCK to be you.

And then I post something optimistic be it thought or fact and your depression has such a tenacious grip on you that your reading comprehension is so pathetically disturbed you can read it without rearranging the words so that they fit through the narrow keyhole of your mind’s eye into that pathetically disturbed morose mind of yours in such a manner that it is further repugnantly regurgitated and spit out your pie hole in a most venomous like the green slim from the mount of a possessed soul. And you are literally possessed.

I come here to perform a mass exorcism of sorts. But to no avail. You are all lost causes. There are a few like me who come here to spread the ‘Truth’ but after your rancorous retorts they merely shake their heads in disbelief of your lunacy and leave.

As one of those emails of support and praise put it the other day put it with which I agree;

”As much as I like Garth’s writing style and award winning information his bias and deceptive conclusions do very little to service the neophyte and slightly seasoned members of his audience. Actually, I’ll revise that, he disservices this part of his audience by taking advantage of their naivety and pitting it against his target of the day.”

And then another accurate supporter who said;

”…it is obvious that most on the blog are there because of the cultish nature that attracts negative minds – it’s akin to the doomsday zealots who, were it not for their lots in life, they wouldn’t perpetually forecast a doomsday in the hopes they’ll be saved. The longer it takes to get here the more angry they become. This is obviously true here too since they part ways with their host but more respectfully of course, when he’s not onside with what they want to hear.”

Yes I’m going to come back from time to time and rattle your chains to set the Dawgs a barking and a howling as they so often do at shadows in the night. Might toss you a bone or two to chew on, but be careful it might be spiked so sniff it out first for what it’s worth. But right now I’ve got to get back to work. There’s gold in them thar hills – believe it or not.

Shepple? There is no shepple quite like the Blog Dawgs. And they are the Greatest of Fools. But, please go on believing otherwise for not everyone can win and for those that do there must be a greater number who lose. It’s called the Pareto Principle and it’s a fact of life.

Catch ya later… losers.

};-)

#76 };-) aka D.A. on 01.10.13 at 10:48 am

rather than take the time to correct the many grammatical errors in my previous post, which I banged off quickly in retort, I thought I would brighten your day with this humorous cartoon.

#77 Canadian on 01.10.13 at 10:55 am

Aw come on Garth, who wouldn’t want to sit in the shadow of an egg in Veg for their two weeks in the summer?
CBC didn’t ask you to promote environmental doom first? Hmmm, they must have a new programming director.

#78 Aussie Roy on 01.10.13 at 10:57 am

Aussie Update

Property prices are going nowhere, Aussie Central bank explains why

SOME love affairs end in tears. Other times, a relationship sours so gradually that when the final parting comes, it is a relief for all involved.
And so it is with Australians’ love affair with property.

A decade ago, dinner parties and barbecues were dominated by talk of house prices and property investments.

Televisions blared with renovations shows in which miracles were performed on derelict bungalows and hey presto, the house sells for double its original value.

Even today, there is no shortage of property spruikers out there to claim the next boom in property prices is about to get underway.

It will be 10 years since the peak of the home price boom in Sydney, which foreshadowed the end of the property price boom in other capital cities.

Between 2003/04 and 2009/10, prices grew just 10 per cent in Sydney.

By contrast they rose between 50 to 60 per cent in Melbourne, Brisbane and Adelaide. And a whopping 100 per cent in Perth.

But the property boom of the 2000s is well and truly at an end.

Capital city house prices peaked in November 2010

A paper released just before Christmas by the Reserve Bank helps to explain why.

It charts the rise in house prices relative to household income over the past three decades.

In 1981, the typical home sold for $48,000 just a little over three times the median household income of $15,000.

Today, the median home will set you back $408,000 about six-and-a-half times the median household income of $61,000.

We borrowed more because we could. We spent more on housing because we are richer, and could afford to do so.

We transformed our homes into multi-storey, multi-gadget, home-theatre infested castles.

In the meantime, homeowners look set to use lower interest rates to continue paying down housing debts.

The pace of outstanding housing credit growth is the slowest on record.

We have been forced to confront a fundamental truth about property: it is only worth what people can afford to pay for it.

The golden goose of property is well and truly plucked.

http://www.news.com.au/realestate/buying/home-prices-are-going-nowhere-reserve-bank-paper-explains-why/story-fndban6l-1226550009499

#79 sciencemonkey on 01.10.13 at 10:59 am

@ 189 Dr Wayne: I studied chemistry, and I suppose I’m lucky to have a job earning a little more than a TTC driver. The implied joke is my job requires 10 years of post high school training.

I fully agree with #66 Rishu, I’m just another stupid gullible gen-Y. When I was 16-17 in my last year of high school in 2001, I didn’t stop to think. (I’m willing to accept full responsibility for that, but I wonder how things would’ve turned had I had a mentor with a different opinion.) I just believed what my educated, government-employed boomer parents told me about education leading to success, and that I should study what I enjoyed. If I could do it all over again I would’ve picked up a trade like electrician or nursing.

#80 Dr. WAYNE on 01.10.13 at 11:07 am

#73 Otto on 01.10.13 at 10:16 am

Altogether now, the name Wayne is forever linked to the word A-you know the rest. Furst, are you leaving because Wayne has creeped you out? Garth, do something please, punt the wanker!

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

“… because Wayne has creeped you out”? Oh please … if so, his nanny shouldn’t let him play with a computer.

#81 Gunboat denier on 01.10.13 at 11:07 am

64 Downtown – how did they get a $4k penalty? If its IRD and you have a year left isnt it either (3.65-3.09)%
times balance or 3 months interest? Is the mortgage very
large?

And how did they get a higher rate than either the old or new rate by blending? They must have included the penalty.

#82 Joe on 01.10.13 at 11:08 am

31 furst on 01.09.13 at 11:46 pm

Amen!!!!

#83 Jeff in Moose Jaw on 01.10.13 at 11:27 am

#38 Stew

Exactly…. I agree 100%.

#84 Alex n calgary on 01.10.13 at 11:30 am

Its interesting to see the finance minister for AB’s forcast for 2013 is quite bleak indeed, citing the low production in the oil patch, especially with no new pipelines. Yet in Edmonton, its full steam ahead, lying to everyone about everything to keep people moving there and believe the lies. Someone else posted they have sub 150k bungalows in Edmonton, I checked, its TRUE! I can’t believe that, and nobody is buying, that is crazy! you still can’t touch a detached in CGY for less then 300k.

My wife works at the City of Calgary and they know damn well the budget shortfalls that are coming from decreased property taxes and the outrageous expansionary building this city has done, further and further out into the prarie, so far from downtown. Her HR associates magazine cited stats for how many foreign temp. workers migrated into AB for 2012, like 40,000+, who will all leave when the truth about the patch starts to come to fruition, even more houses. We know some nice Mexican’s working here, barley have jobs who own houses!!! its crazy beans!

#85 DM in C on 01.10.13 at 11:36 am

Well that was predictable — DA has another ‘FINAL’ tantrum, takes his ball and says he’s going home. You all know he’s still watching the game, peeking over the fence, hoping someone will invite him back in.

Truly pathetic.

#86 Sherwood Park on 01.10.13 at 11:40 am

I heard the interview/debate this am on CBC Edmonton. Victory to Garth by knock out. It was a battle of wits with an unarmed man. Its worth googling the podcast.

#87 Jim Lahey, Sunnyvale Trailer Park Supervisor on 01.10.13 at 11:43 am

#31 Furst

“After much thought and consideration, it pains me so but I’ve decided to no longer post to Garth’s blog.”

Sorry, I overlooked this post by you Furst in my previous comment about you and the “Dr.” coming to Sunnyvale. Hell no Furst!!! You can’t leave this blog!! You are the in house poet and witty retorter. Why the abrupt decision Furst?

#88 MontrealSFH on 01.10.13 at 11:54 am

Home prices in Montreal to rise in 2013, flatten across Canada: survey

Royal LePage predicts housing market will undergo ‘brief, mild correction’ but property values won’t collapse

http://www.montrealgazette.com/homes/Home+prices+Montreal+rise+2013+flatten+across+Canada/7789394/story.html

#89 Buy? Curious? on 01.10.13 at 11:58 am

Check out this real estate agents party/conference.

http://www.youtube.com/watch?v=1D-Yok0aqqw

How does one get into this profession where there are so many lovely ladies? And why do guys who haven’t developed male pattern baldness feel the need to grow their hair long and slick it back?

#90 Edmonton to Halifax on 01.10.13 at 12:03 pm

Farewell DA,
I must say, you are definitely the most intelligent RE agent I have ever come across. You should get out of RE and into politics IMHO. Good luck until you return.

#91 bill on 01.10.13 at 12:04 pm

#4 Giacomo Bill on 01.09.13 at 10:11 pm
interesting nom de plume…anything to do with this guy?
http://www.youtube.com/watch?v=Upt1UiXYCqI&feature=relmfu

#92 Herb on 01.10.13 at 12:10 pm

Using front-end loading to put lipstick on another RE market, then whistling past the graveyard:

http://www.quinterealestate.ca/content.php?id=3055

#93 Dr. WAYNE on 01.10.13 at 12:26 pm

#79 sciencemonkey on 01.10.13 at 10:59 am

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

Receiving your degree would indicate that you are able to think and apply your mind well beyond chemistry. Don’t waste your talents. Have you tried the environmental consulting industry where wide spectrum thinkers are valuable?

#94 Andrew on 01.10.13 at 12:27 pm

DA,

Today’s rant can only be summed up as:

“Batshit Crazy” (as my friend Matt Taibbi likes to say)

I’m seriously worried about you now. I mentioned rehab earlier but I was wrong, it’s therapy you need pardner and lots of it.

#95 AprilNewwest on 01.10.13 at 12:36 pm

Evidence of what’s really happening in the Canadian RE market. Vancouverpricedrop, Whispers for the edge of the Rain Forest, Capital Economics, Garth Turner of course, and others. Facts. Spread this information all over the area you live in and around the area. Show and tell!!! People need to know how their being hoodwinked by the media and RE industry who are all guilty of spreading false information.

#96 Danno on 01.10.13 at 12:41 pm

It’s unfortunate that anonymity allows people to feel they can post rude and sometimes hateful things. It interferes with enjoying the intelligent posts that are also on this blog. Can we stick to the topics and leave the personal digs out?

#97 Bailing in BC on 01.10.13 at 12:44 pm

FURST Don’t go. You can’t leave us here with Dr. WANKER and his new apprientice AK. Who will write us poems for the TASTPGFBDCParty?

#98 Holy Crap Wheres the Tylenol on 01.10.13 at 12:44 pm

Where to invest? Since RE is out I would have to say firearm corporations would not be the place to put your money right now.
CalSTRS divests from firearms
http://www.benefitscanada.com/news/calstrs-divests-from-firearms-35567

#99 };-) aka D.A. on 01.10.13 at 12:59 pm

#85DM in C on 01.10.13 at 11:36 am
Well that was predictable — DA has another ‘FINAL’ tantrum, takes his ball and says he’s going home. You all know he’s still watching the game, peeking over the fence, hoping someone will invite him back in.

Truly pathetic.

You wish.

I did not say I was taking my ball and leaving. Your reading comprhension SUCKS DM in C.

What I said (cut and past of the actual comment) was and remains;

“Yes I’m going to come back from time to time and rattle your chains to set the Dawgs a barking and a howling as they so often do”

and

“Catch ya later… losers.”

Is your prejudically preconceived mind so narrow you can’t fit that through the narrow keyhole of it to understand I’ll be back .

};-)

#100 Jimmy on 01.10.13 at 1:05 pm

*Yawn*
More tales of slumping sales and average prices down compared to a different month (apples to oranges comparison, with no mention of year-over-year prices that have continued to rise). I call that deception. The same stat cherry-picking and selective journalism that you accuse the real estate boards of. I call that hypocrisy.

#101 John Prine on 01.10.13 at 1:16 pm

Just spent 2 days visiting friends in a nice area of Scottsdale, Arizona. They bought a 2000 built 950 sq. ft place with pool, club house etc…9 ft ceilings close to everything. Paid $65,000 and did a $40,000 upgrade (everything) It is beautiful, running costs and taxes are low by our standards and are in for a total of $105,000…A little less than Vegreville…It originally sold for around $260,000………..We have a way to go….

#102 Ogopogo on 01.10.13 at 1:17 pm

#85 DM in C on 01.10.13 at 11:36 am
Well that was predictable — DA has another ‘FINAL’ tantrum, takes his ball and says he’s going home. You all know he’s still watching the game, peeking over the fence, hoping someone will invite him back in.

Truly pathetic.

DA is a pitiful drama queen with a chronic inferiority complex which can be accurately diagnosed through his predictable combination of passive-aggressive and outright hostile comments. His attempts for self-affirmation (“I have a hot wife”, blog dawgs are “losers”, etc.) confirm the diagnosis.

His anger stems from his obvious failure at being taken seriously on this blog. Ironically, his desperate attempt to dignify an industry mocked and scorned by society at large only strengths the contempt with which most of us hold realtors and the real estate cartels. DA’s relentless capitalization of his profession (i.e. “REALTORS®”) only invites further ridicule.

I mean, seriously, what other profession goes to such extent to draw attention to itself? I have yet to see a DOCTOR®, ENGINEER®, PROFESSOR®, SCIENTIST®, etc.

REALTORS® are sheer COMEDIANS®.

#103 western observer on 01.10.13 at 1:18 pm

A question for those that know the answer:

If I take a line of credit of $40,0000 for investment puposes at a 3% interest rate , 25 year amortization the payment is $189.30 month or $2271.60 a year.

I invest the $40,000 and get a 5% return on it or $2000.00 in a year.

I can write off the interest against my income: $2271.60 interest less 30% tax bracket = $681.48 savings. Cost to me to borrow $1590.12

A fee based advisor @ 1% = $400.00 year fee.

So as I see it : $2000.00 return on investment – $1590.12 cost to borrow = $409.88 – $400.00 advisor fee = actual return on investment of $9.88 a year.

Do I have these calculations correct?

Thank you in advance for any answers.

#104 Victoria on 01.10.13 at 1:18 pm

Michelle,

Did they say where they wanted to go.

#105 Furst on 01.10.13 at 1:23 pm

With the outpouring of love and support shown to me after my decision to leave this blog community, I’ve come to realize that this will leave a big hole in the wonderful blogging community. Given this, I’ve reconsidered and decided to return. It has been a roller coaster of emotions over the last day but all of you, especially my fans like Dr. Wayne and many others have given me the strength to journey on. To my fans, I am back and you have made THE difference. Let’s continue this journey together. It’s hard to respond to everyone given the sheer volume, so I’ll try my best below.

#39 K on 01.10.13 at 12:07 am
Furst, You have way too much free time on your hands!

No worries K. My time spent helping and educating those and knowing the positive impact I’ve had on all of you is a reward in and of itself. I’m happy to spend this time with you and the rest.

#65 Dr. WAYNE on 01.10.13 at 9:12 am
… a poster of ‘FIRST’ is toast … hallelujah …
Yes … your reputation IS cemented, as one of the ‘persistent’ a$$holes.

Well thank you for the support Dr. Wayne. It is cemented but my work is not done. I want to continue helping those in need of guidance, especially you. In a short period of time, I’ve seen your progress. You’re becoming quite the blooming sunflower that I knew you could be.

#69 Jim Lahey, Sunnyvale Trailer Park Supervisor on Ricky says that when he is into his weed, your poems become a mystical union with the universe!

You are my staunchest fan and have always been. I only share what I see and see what I share. How can I leave you here alone to work on making Wayno a better person?

#73 Otto on 01.10.13 at 10:16 am
Furst, are you leaving because Wayne has creeped you out?

Initially yes Otto. With fame, comes both the good and bad. It was difficult to deal with a stalker. But I do need to realize that as an adoring fan, Dr. Wayne may sometimes may not have full awareness about how his stalking behavior impacts others. With fame and power comes responsibility but these are challenges that I must overcome.

#82 Joe on 01.10.13 at 11:08 am
Amen!!!!

Joe, I am but a simple man here on this earth like you. Shockingly, I have no supernatural or powers beyond what we all possess. Rise up and do not pray to me, for I am but only your equal.

#106 Bottoms_Up on 01.10.13 at 1:34 pm

#33 wykidajlo on 01.09.13 at 11:53 pm
—————————————
Enlighten me. What does “simple math” tell us about the future of our species?

#107 Patiently Waiting on 01.10.13 at 1:39 pm

Here are the stats from the FVREB this morning.

While it is still early in the year sales show a 35% year over year drop in January, and a month over month drop of 49% …

FVREB STATS – as of January 10, 2013
6 of 22 Working Days
JANUARY 2013 Listings 656 Sales 124
DECEMBER 2012 Listings 363 Sales 244
JANUARY 2012 Listings 731 Sales 191

pw

#108 Dr. WAYNE on 01.10.13 at 2:04 pm

#105 Furst on 01.10.13 at 1:23 pm

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

I knew it !!!!!!!!!!!!! Such a penchant for mindless verbosity, in conjunction with pure unadulterated horse sh++, such a talent could not be restrained, much to the chagrin of more intellectual minds. However, we will slog on.

#109 rembrandt on 01.10.13 at 2:07 pm

THE END OF THE GOOD TIMES ARE HERE NOW! Has any Vancouverite seen the house Lululemon built on Point Grey Road? The most expensive house in Greater Vancouver is located on Belmont Avenue and assessed at $ 39 million. By the time the Lulu house is finished you’ll probably looking at a $ 50 million house. Disgusting?

#110 rembrandt on 01.10.13 at 2:11 pm

When houses are built on sand
And money’s based on debt
The end times are in motion
But you ain’t seen nothing yet

Gold and silver will help
When money’s no longer gold
But only faith will give you the strength
To make it to the end of the road

For a contrarian well founded exercise go to :

http://www.321gold.com/editorials/schoon/schoon011013.html

#111 Mad Scientist on 01.10.13 at 2:17 pm

Garth, I always loved your site – but lately it has become that of the Romans fighting in the Coliseum – words sharp enough to cut, slash anyone who provides a point of interest. While others use Garth’s site as their own soap box platform and tell the rest of us how great they are…
If you want to hijack his site – do the honorable thing and open your own site called “First” and every poster will write first – what a fun time had by all –
We need posters who can share experiences within the real estate industry or financial world, I want to read about those sharing similar thoughts or feelings – I don’t want to read from a pimply faced teenager who is writing in their parents basement about be a supposed high end roller making $100K a year – while in fact they are unemployed and with the tint of yellow fingers from eating cheetos all day long – filling the site with garbage.
G, you are a true Canadian patriot who brought light to troubled industry – and to all those who have mudded his site – well, bottom feeders are just that -

#112 Holy Crap Wheres the Tylenol on 01.10.13 at 2:24 pm

One hundred thousand years ago, a caveman was out hunting in the plains, when he slipped and fell into a crevasse, where he was frozen solid. In 1988, he was discovered by scientists and was thawed out. He then attended real estate classes at collage and became…The Unfrozen Real Estate Agent!
Keyrock became a Real Estate Agent in a later sketch, a politician running for President on the platform of eliminating the capital gains tax. He was portrayed as a selfish, well-dressed Real Estate Agent who repeatedly claimed to be a simple-minded caveman, and would employ simple folk wisdom to win his cases. He also enjoyed significant wealth, driving luxury cars like BMWs and Range Rovers, as well as owning a home on Martha’s Vineyard.
The scene would then be accompanied by a song, beginning “He used to be a caveman…,” showing Keyrock in animal skins beating a club against his hand, “…but now he’s a Real Estate Agent!” and showing Keyrock’s clothes changing from animal skins to a suit, and his club replaced by hands gesturing to emphasize a point: “Unfrozen Caveman Real Estate Agent!”
Things in the modern world supposedly “frighten and confuse” him. He would then list several things that confounded him about modern life or the natural world, such as: “When I see a solar eclipse, like the one I went to last year in Hawaii, I think ‘Oh no! Is the moon eating the sun?’ I don’t know. Because I’m a caveman — that’s the way I think.” This pronouncement would seem ironic, coming from someone who had, for example, just ended a brisk cell phone conversation, or indeed attended real estate classes in collage. Keyrock would always finish a disquisition, however, by asserting in a burst of righteousness that nevertheless, “There is one thing I DO know….” That one thing would be that his client’s home was either sold or his client bought the cave that he just pushed on him. If the client asked him anything Keyrock would answer (“I’m sorry, Mr Client, I was distracted by the tiny people in this magic box”), or by a cell phone call, and the question has to be repeated by the client.

#113 claudius emperor on 01.10.13 at 2:28 pm

Auch,

Bank of Canada could raise rates half a per cent this year, says RBC outlook

http://ca.finance.yahoo.com/news/bank-canada-could-raise-rates-half-per-cent-172146589.html

#114 Rene on 01.10.13 at 2:28 pm

103 Western observer,
The $2271 interest figure you have is incorrect. A sizeable portion of this amount pays back your loan (principal). The actual interest cost is less than $1200/yr. So the earnings of 2k (taxable earnings) minus interest cost (deduction against earnings) for taxable amount of $800. Then factor in gross-up for divs and div tax credits (if any dividends) and apply your marginal tax rate.

#115 };-) aka D.A. on 01.10.13 at 2:31 pm

#102 Ogopogo on 01.10.13 at 1:17 pm

REALTOR® is not a word like doctor, engineer, professor or scientist. REALTOR® is a registered trademarked name like XEROX® and Kleenex®.

In an industry where there are so many sales people working for someone else but trying to “sell” you something, REALTORS® are available to be employed by you as your lawful agent. Why not do yourself a favour and research the The Law of Agency

We (REALTORS®) are compelled to distinguish ourselves and the purpose of our exclusive association from those others who give us a bad name, by mistaken association, as you try to lump us in with them.

Like doctors and engineers we (REALTORS®) do have a strict code of ethics we demand our membership adhere to.

I’m not suggesting that we are necessarily on the same level as doctors and engineers as certainly the prerequisite qualifications to becoming a REALTOR® are quite lax compared to those two professions. That being said I am sure you would be quite surprised, as quite frankly I was, to learn what percentage of REALTORS® have at least an undergraduate degree like me. Many have post grad degrees and tons have a wealth of experience in applicable fields prior to their entering the industry as do I.

Yes there are some who give us a bad name and we do have ways of dealing with them although we count on the public to bring to our attention the wrongs they commit so that we can investigate and appropriately deal with the offending party. For those who believe it a self-serving cartel, self-serving I assure you in every venture and arena is short living as eventually such selfishness inevitably backfires. If you feel wronged and don’t trust us to deal with it you can always pursue the matter in court and as ‘professionals’ you can rest assured the court does hold us to a higher standard and deals with us accordingly if it deems we have breached the public’s trust.

#116 Jim Lahey, Sunnyvale Trailer Park Supervisor on 01.10.13 at 2:38 pm

#105 Furst

“How can I leave you here alone to work on making Wayno a better person?”

You have made me and all of Sunnyvale happier with your decision to return Furst! Bravo mon ami and may your witty retorts and poetry reign supreme on this blog!

#117 Jim Lahey, Sunnyvale Trailer Park Supervisor on 01.10.13 at 2:44 pm

#108 “Dr.” Wayno

“Such a penchant for mindless verbosity, in conjunction with pure unadulterated horse sh++, such a talent could not be restrained, much to the chagrin of more intellectual minds. ”

Hey Wayno, I see you are being autobiographical! I couldn’t have described you any better! Well done “Doc”.

#118 Freedom 55 on 01.10.13 at 2:44 pm

Thousands of Americans are finding themselves legally liable for abandoned houses they didn’t know they still owned after banks decided it wasn’t worth their while to complete foreclosures on them.

http://business.financialpost.com/2013/01/10/the-latest-u-s-foreclosure-horror-story-curse-of-the-zombie-title/?__lsa=714f-4684

#119 coastal on 01.10.13 at 2:50 pm

“It is beautiful, running costs and taxes are low by our standards and are in for a total of $105,000…A little less than Vegreville…It originally sold for around $260,000………..We have a way to go….”

We have a very long way to go. The arrogance of these agents who think the market can’t fall 50% are so immature and ignorant it’s mind blowing. They base everything around the price to build a house or the price of a lot, not what the market says it’s worth. All their fairy tales from their father’s wisdom who never lived in Canada in the 80′s and 90′s and claim it’s not relevant is so pathetic.

The real estate market has no idea what’s coming and will be like a slow moving tsunami creating nightmares for millions. Places are selling in Victoria below assessment in many areas but the pumpers refuse to see those red flag warnings as they fleece the sheep.

#120 Puzzled Redneck on 01.10.13 at 2:54 pm

Hey all. I’m wondering if somebody can explain this scenario to me?

As I understand it, Garth has said many times that RSPs are outdated because tax rates are sure to rise in the future. Now, assuming 50% marginal tax rate even after retirement and that I’ve done things the sensible way and filed the T1213, if I invest $10000 at 7% for 20 years inside an RSP, the value of the investment would be $38697 or $19348 after I withdraw it. Now let’s say I invest after-tax money instead ($5000) at the same rate for the same time. I still have $19348, but I have to pay capital gains on the $9348, don’t I? Doesn’t that mean that I’m now $4674 behind where I would have been with the RSP scenario?

What am I missing here? Pension clawbacks? Dividend-yielding investments instead of equities? Or do we expect marginal tax rates to go above 62%?

#121 TEMPLE on 01.10.13 at 2:59 pm

#24 Bottoms_Up on 01.09.13 at 11:30 pm

Bottoms Up, you win the award for most ignorant comment of the day. I don’t have time to unpack all the different ways you are wrong, but I’ll pick out a few.

Where is your evidence to suggest that 7 billion humans is somehow detrimental

Really? You have to be a troll. Nobody in a country with literacy rates like Canada could possibly be so unaware of the environmental disaster caused by our expanding population.

amount of space humans take up shoulder to shoulder, we could all fit within 500 sq miles, the size of the city of L.A?

It’s stupid to think that our influence is limited to the physical space we take up. You probably also think that greenhouse gases have no effect because you can’t see them.

A greater level of genetic diversity is achieved by having more members of our species in existence

Completely wrong. A rapidly expanding population has very low genetic diversity. Humans especially lack genetic diversity. You need to learn about genetics before you make such statements.

Until there is overwhelming evidence that the risks of having 7 billion humans on the earth outweighs the benefits, I will continue to believe that population growth is a good thing for our species.

Take a look at current species extinction rates. Those rates are just a tiny portion of the overwhelming evidence showing that human populations are not sustainable at current levels.

TEMPLE

#122 Downtown on 01.10.13 at 3:01 pm

#81 Gunboat denier

The mortgage is about 160k, he said the penalty is for renewing early. I didn’t ask why the penalty is 4k or how they came to that number. I was take back when he gave the rate of 3.77. I emailed him back and said there was a mistake, that it make sense and that was the response he gave me.

#123 TEMPLE on 01.10.13 at 3:04 pm

#24 Bottoms_Up on 01.09.13 at 11:30 pm

Bottoms Up, you win the award for most ignorant comment of the day. I don’t have time to unpack all the different ways you are wrong, but I’ll pick out a few.

Where is your evidence to suggest that 7 billion humans is somehow detrimental

Really? You have to be a troll. Nobody in a country with literacy rates like Canada could possibly be so unaware of the environmental disaster caused by our expanding population.

amount of space humans take up shoulder to shoulder, we could all fit within 500 sq miles, the size of the city of L.A?

It’s stupid to think that our influence is limited to the physical space we take up. You probably also think that greenhouse gases have no effect because you can’t see them.

A greater level of genetic diversity is achieved by having more members of our species in existence

Completely wrong. A rapidly expanding population has very low genetic diversity. Humans especially lack genetic diversity. You need to learn about genetics before you make such statements.

Until there is overwhelming evidence that the risks of having 7 billion humans on the earth outweighs the benefits, I will continue to believe that population growth is a good thing for our species.

Take a look at current species extinction rates. Those rates are just a tiny portion of the overwhelming evidence showing that human populations are not sustainable at current levels.

TEMPLE

#124 mel in victoria on 01.10.13 at 3:06 pm

US $ breaking down. Should be good for the markets…

http://stockcharts.com/h-sc/ui?s=UUP&p=D&yr=0&mn=6&dy=0&id=p96986475234&a=176882649

#125 Andrew on 01.10.13 at 3:16 pm

Hi Sherwood Park or Garth,

I would like to hear today’s interview on CBC Edmonton but I can’t find the link, can you post it?

Thanks!

#126 Penny Henny on 01.10.13 at 3:29 pm

Welcome to what was the greater fool blog.
Now known as the Dr. Wayne, Jim Lahey and Furst love in. can’t the three of you text/email each other.
Get a life, losers!

and to #103western observer on 01.10.13 at 1:18 pm

So as I see it : $2000.00 return on investment – $1590.12 cost to borrow = $409.88 – $400.00 advisor fee = actual return on investment of $9.88 a year.

-you forgot that you could write off the $400 advisors fee, netting you another $120/year based on 30%% tax rate.

#127 Penny Henny on 01.10.13 at 3:35 pm

and to #103western observer on 01.10.13 at 1:18 pm

So as I see it : $2000.00 return on investment – $1590.12 cost to borrow = $409.88 – $400.00 advisor fee = actual return on investment of $9.88 a year.

-you forgot that you could write off the $400 advisors fee, netting you another $120/year based on 30%% tax rate.
and at the end of the 25yrs you would have paid off the $40k.
and you didn’t factor in the compounding interest

#128 };-) aka D.A. on 01.10.13 at 3:44 pm

#123TEMPLE on 01.10.13 at 3:04 pm
and
#24 Bottoms_Up on 01.09.13 at 11:30 pm

That’s a very tempting debate to weigh in on.

One thing I will say, while all of the human population could be fit on half the area of Prince Edward Island or an area the size of the city of L.A, we do need a lot more land to grow food, live work and plan upon let alone maintain forests, rivers, oceans and other working ecosystems capable of filtering out the shit we create.

#129 };-) aka D.A. on 01.10.13 at 3:44 pm

grow food, live, work and play upon

not “plan” upon

haste makes waste.

Are you still here? — Garth

#130 };-) aka D.A. on 01.10.13 at 3:45 pm

#123TEMPLE on 01.10.13 at 3:04 pm
and
#24 Bottoms_Up on 01.09.13 at 11:30 pm

That’s a very tempting debate to weigh in on.

One thing I will say, while all of the human population could be fit on half the area of Prince Edward Island or an area the size of the city of L.A, we do need a lot more land to grow food, live work and play upon let alone maintain forests, rivers, oceans and other working ecosystems capable of filtering out the shit we create.

#131 Spiltbongwater on 01.10.13 at 3:45 pm

Do Realtors have special keyboards that have the R with circle around it? My keyboard does not seem to have that symbol.

#132 :) :( Ying Yang on 01.10.13 at 3:55 pm

Wow our real estate is not really complex compared to these guys. Jeesh…..

http://www.zameen.com/development/Islamabad_ICHS_Town-122-0.html
Developments » Pakistan » Islamabad Capital » Islamabad » ICHS Town
ICHS Town

The Islamabad Co-operative Housing Society, Islamabad is registered with Co-operative Societies Department, ICT, Islamabad under Registration No.313. the well planned and scenic Capital City of Pakistan along with the neighboring Rawalpindi City / Cantonment have been expanding swiftly due to socio-economic dynamics.This has pushed up the prices of plots in residential sectors of Islamabad (min Rs. 10 million per 600 sq. yds) which falls beyond the reach of the middle class, especially the fixed income group. The foresight behind the formation of Islamabad Cooperative Housing Society Islamabad in the year 1989 is more justified now than ever. The Society was established in 1989 by a group of senior Government Officers (founder members) working at Islamabad in different Ministries / Divisions and was undertaken primarily, with the sole objective of providing to its members residential/ commercial plots at affordable prices with all modern facilities and amenities .The Society initially planned to develop its housing colony in two phases,with 9000 kanals of land situated at Fateh Jang Road Tehsil and District Rawalpindi, approx 24 kilometers from Zero Point Islamabad with the hope that ultimately a modern suburban town catering to the educational, cultural and social needs of a population of 35/40 thousand would be developed.SuiGas:Some amenities have become an integral part of our life style and provision of gas is one of them. Soon a project to lay a gas pipeline will be started to meet this requirement at the door step of each resident of the Society.Electricity:Electricity is vitally important in modern life. In view of this, we shall provide underground electrify system in the whole scheme and the best street lights arrangements will be made.Boys / Girls School & College:For new generation, boys and girls schools and college will be built to benefit from modern education, so that they may not fell any obstacle in understanding and examining new inventions and technologies.Main Gate:A boundary wall is meant to be made to prevent outsiders from entering the housing scheme. A beautiful main gate with attached guard room has been constructed Green Belts:On both sided of the roads, green belts, decorated with plants, shall be made so that you can get a green and attractive surroundings. Roads:We have a plan to construct wide and carpeted road network in the housing scheme. To ensure smooth traffic, arrangements will be made that roads don’t become water logged. Mosques:There will one Jamia Mosque and small Mosque in the Scheme, so that the residents of the scheme can have religion, education and say prayers five times a day. Parks / Playland:There will be beautiful parks in ICHS Town and facilities will be provided for interest of residents of each age category. Hospital / Shopping Centres:A latest hospital will be build to provide medical facility to the residents of the scheme. Trade centres, and shopping plazas will also be constructed in commercial areas. Sawerage:Water and sewerage disposal has become a nuisance in Pakistan. In view of it, lates sewerage system will be laid down.

#133 T.J. BONES on 01.10.13 at 3:56 pm

Sir Garth : Also Furst, i believe that Dr. Wayne is a woman! Some of the milder gender have a hard time asking a guy out! Oh Doctor, get out that skin tight party dress, works every time!

#134 Cory on 01.10.13 at 3:57 pm

#158 Cramer – yesterdays post

I’m all for renovations that are within reason. Over the course of 4 years we spent 50K on renovations on our 25 year old home. The previous owners did all the big things like kitchen & bathrooms so we finished the basement, removed popcorn ceilings and outdated wallpaper, added a window and skylight etc, etc.

We did things slowly and lived in the house for about 6 months before we did anything.

Now spending 200K on renovations after buying a $500K house right of the bat is just plain stupid. How do you pay for that? Retirement savings, line of credit, bank of mom and dad?

This kind of extreme expenditures must put stress on a marriage. Besides why do we have to have everything perfect in our lives anyway. I still have the white appliances that came with the house because they still work so why toss them to the curb. My friends have stopped asking me if I’m getting new stainless appliances because they know what the answer is.

#135 Richard on 01.10.13 at 4:03 pm

Strata/House Costs – I would be curious to know what the influence of “home ownership costs” are having on home ownership failures. Our house cost almost $900 a month “PRE TAX” just to live there. Insurance, property taxes, hydro, garbage, water etc etc.

The cost of living there….is almost a mortage payment. That is one of the many reasons we sold. And are saving tons of money living in our other 3 bedroom “cheap to own” condo. We bought it cheap 10 years ago so its cheaper to own than rent….

Sunny day finally in mould/rainy/crappy/grey couver…….a broken clock is right twice a day. Right Zeus? “BARK”. Good dog……

#136 Westcdn on 01.10.13 at 4:16 pm

I think entrepreneurs built this country and they are the true generators of wealth not RE. I find it annoying that the federal government subsidizes the auto industry before the small businesses that pay taxes. I will, where I can, support practical people who I find are more valuable than government intellects and programs. I can live without a car but I need food and energy my home running. I hope Albertan entrepreneurs can persevere as I too see difficult times ahead for Alberta. It’s a shame what Klein accomplished has been wasted but, in hindsight, he also erred by letting the oil sands grow too quickly. However, the big companies are in too deep to shut them down. Redford is going to have to play tough as they forget there was no gun held to their head when they made the investments.
I think the reality houses are now less valuable than a bond will soon become apparent to most and I don’t think much of bonds given their miserable returns. I know from experience that common shareholders are the first to be wiped out when a corporation fails. What a mess for savers. I found this short video entertaining. It goes to the absurdity of printing money.
http://www.youtube.com/watch?v=kH1WaHzvFkw&feature=player_embedded

#137 Jim Lahey, Sunnyvale Trailer Park Supervisor on 01.10.13 at 4:36 pm

#111 Mad Scientist

“G, you are a true Canadian patriot who brought light to troubled industry – and to all those who have mudded his site – well, bottom feeders are just that -”

Has it ever occurred to you that the former right honorable minister of national revenues, denouncer of parliamentarian peckerheads and peckerettes, gifted oracle from the east, all wise, all knowing, all seeing, financial prognosticator without equal, NYT bestselling author, lone voice of reason crying out in the financial wasteland of Canada, could delete any first poster he wants?

#138 Nancy on 01.10.13 at 4:38 pm

@Temple

“Nobody in a country with literacy rates like Canada could possibly be so unaware of the environmental disaster caused by our expanding population.”

In fact, neomalthusian views such as yours are very much up for debate, especially in the academic realm.
One criticism of malthusianism is that it does not take into consideration technological improvements that make agriculture more efficient and productive thereby increasing the carrying capacity of the earth. This would be more of a liberal/mainstream/development theory type critique of neomalthusianism. Another criticism (this time from the left) would be that malthusianism has a tendency to blame poverty on the poor themselves. You are poor and hungry because you exist–there is a surplus population–we can eliminate poverty/want by eliminating the surplus population. Marxists would say this view fails to consider unfair distribution of food/resources/money in a capitalist system. We have enough food to feed everyone in the world if only it were distributed more fairly–that is a leftist argument against your neomalthusianism.

I’m not taking sides here. I think these are very complex issues. But I just want you to know that neomalthusianism is far from being universally accepted among literate people and in the academic realm it is a subject that is very much up for debate.

#139 a prairie dawg on 01.10.13 at 4:40 pm

http://www2.macleans.ca/2013/01/07/99-stupid-things-the-government-did-with-your-money-part-i/

24 Maybe he’s born with it: Not one to be caught without his game face on, it was revealed the office of Finance Minister Jim Flaherty expensed $130 worth of cosmetics for an apparent beauty emergency ahead of a televised budget announcement. Flaherty’s staff scrambled to purchase concealer, blush, loose powder and shaving supplies to do the minister’s makeup after a cosmetician cancelled at the last minute. For anyone wanting to replicate the look, Flaherty wears a combination of Maybelline, CoverGirl and Smashbox.

#140 Intuitive Missus on 01.10.13 at 4:41 pm

Building permits are seen as a leading indicator of the economy because they signal intentions to invest and build for the future, which people generally only undertake if they are feeling optimistic about the future.

http://www.cbc.ca/news/business/story/2013/01/10/business-building-permits.html

http://business.financialpost.com/2013/01/10/canada-building-permits-plunge-into-the-basement/?__lsa=b3ef-bf51

#141 hangfire on 01.10.13 at 4:42 pm

Why argue ?

WASIK COLUMN – Three smart money moves for 2013
11:50AM ET on Monday Jan 07, 2013 by Thomson Reuters

By John Wasik

CHICAGO, Jan 7 (Reuters) – Using the non-courageous power of hindsight, it’s easy to look back on the previous year and see where the “smart” and “dumb” money flowed.

The direction of money last year tells a well-worn tale: When fear dominates, money moves into safer vehicles such as bonds and money-market funds.

After 2008, you can hardly blame anyone for still wanting to avoid volatility. But those who retreated mostly to fixed-income have missed the better part of a bull market that’s been running since 2009.

Although the S&P 500 index ended up about 13 percent in 2012, most investor funds flowed away from stocks during 2012. Investors redeemed money from stock funds for the 19th straight month through November, 2012, according to Lipper Research, a division of Thomson-Reuters. Nearly $4 billion was pulled out of U.S. stock funds in the week ending January 2.

Bond and money-market funds were more like mirages and less like oases last year. In November, for example, some $95 billion was added to fixed-income, while $14 billion was redeemed from stock and mixed-equity funds. The NASDAQ Index climbed more than 1 percent in November, its best showing for that month in three years.

I know Washington will throw investors into a lot of pot-holes on the way to negotiating debt ceiling and budget issues. But it’s still a good time to buy stocks.

nuff said….

#142 TNT on 01.10.13 at 4:49 pm

# 43 Squiddly you are so right.

Allison Redford is a disaster in my opinion, giving large multi-national corporations massive tax discounts, while geeting the public heavily into debt is disgraceful. In my poinion, I feel she should be charged with reason-spending $20,000 of Tax payers money to attend these secretive BILDERBERG meetings… http://www.youtube.com/watch?v=r9BUy9dwiqU

#143 Bottoms_Up on 01.10.13 at 4:50 pm

#123 TEMPLE on 01.10.13 at 3:04 pm
————————————–
You make a great case for yourself as the next leader of the NRA.

I was discussing our species’ survival and the carrying capacity of the earth. Environmental disaster? Yes humans have an environmental impact, the extent of which is debatable, but you and I are still here, and I live in one of the healthiest cities in Canada. I’m still waiting to see evidence supporting your claim?

Greenhouse gases are what give us life; without them our planet (I’m guesstimating) would be 100 oC colder. Even someone with a rudimentary knowledge of science knows our dependence on greenhouse gases; you apparently do not have this level of scientific knowledge, so perhaps you should stay out of such a debate.

Some viruses (influenza, HIV) multiply rapidly and are highly genetically diverse (hence the fast development of drug resistance and the requirement for a flu shot every year). My two simple examples obliterate your backwards theory. And humans have a very high level of genetic variability — our phenotypes prove it (as well as DNA fingerprinting).

And I fail to see how extinction rates for various species has anything to do with human fitness?

I welcome factual arguements in response but I can also withstand a low level ad hominen attack.

If you don’t respond I recommend you sign up for Biology 101 — you’ll learn a lot.

#144 stu on 01.10.13 at 4:50 pm

hey Garth

why didnt gold tank buddy? and neither are sfh in toronto? cmon on man usaid the prices of both will tank. of course oops i forgot pwople need to live somewhere and canada is not very attractrive. maybe they should try israel or iran or lybia. u are a moron buddy and poor excuse for a canadian. u fail to see what we have tooffer the world and it about time the world pay for it. when was the last time u extolled the virtues of living in canada?

You had your way with me, Mr. Harper. Now buzz. — Garth

#145 Toronto_CA on 01.10.13 at 4:59 pm

#113 claudius emperor on 01.10.13 at 2:28 pm

50 basis point hike with 25 points in Q3 and 25 points in Q4 2013 would be a huge hit to the housing market, and exports. But it’s not unlikely.

#146 Reasonfirst on 01.10.13 at 5:02 pm

I wonder if DA realizes that the real reason most blog guests read his stuff is for pure entertainment value – no more no less.

#147 Smartalox on 01.10.13 at 5:06 pm

There’s a story in the globe this afternoon that the US is considering minting a $1 Trillion dollar platinum coin, monetizing it by depositing the coin in the federal reserve, which would then use the asset to pay off outstanding debt, thereby avoiding the debt ceiling.

“And then all the metalheads’ minds simultaneously exploded!!!”

#148 Andrew on 01.10.13 at 5:11 pm

DA,

http://kcr.ca/family-services/crisis-line

Everyone needs help sometime, please reach out.

#149 coastal on 01.10.13 at 5:17 pm

A real Garth bashing on the Victoria blog, can you believe these clowns ? Marko the Magnificent leading the way after getting snubbed trying to flog his scams on here…. guess this is what happens when you expose the immature and the arrogant.

#150 Steven Rowlandson on 01.10.13 at 5:19 pm

Last year 24 houses sold in The Peg for more than $1 million. Two changed hands for over $2 million.

“To me that speaks of confidence in the city as a whole when you see people spending those kinds of dollars in the local housing market,” the realtor boss says.

To me it speaks of delusion. Did I ever mention this will not end well?

On this you are correct Garth and it will not end well and that problem is likely just the tip of the iceberg.

#151 Frankie le skank on 01.10.13 at 5:20 pm

#100 Jimmy on 01.10.13 at 1:05 pm
How is it an apples to oranges comparison? Last year at this same time, sales were less compared to this year? If you don’t do year over year comparisons, people like you would use the time of year excuse. So if sales decrease over an extended period of time and there is less demand for RE, do you think that prices will continue to go up? If you believe they will, you would be foolish not to buy now before its too late and your priced out forever. OMG, I better get to the bank and beg for a mortgage and hopefully a nice realtor will be courteous enough to allow me to be his client. I hope its not too late!?!?!?!?!?!?

#152 The Karma Police on 01.10.13 at 5:24 pm

We warned about engaging in direct dialogue with those known as realtors. You will reap what you sow.

Proceed with caution.

The first 100 days of 2013 will reveal much.

Also, bear in mind this is Garth Turner’s Greater Fool INVESTMENT Blog. Key word INVESTMENT.

The purpose of discussing real estate on this blog is as a matter of investment. Not sales activity, housing starts, conspiracy theories etc etc.

Real estate does not appear to be a safe investment at this time, nor for the foreseable future.

End of story.

We appologize in advance for our observations, please know there is no judgement, only observation.

Too much ego. Too much materialism. Lack of self assuredness.

This is what plagues most of us. The more you deny the reality, the more it applies to you unfortunately.

#153 };-) aka Devil's Advocate on 01.10.13 at 5:27 pm

#129};-) aka D.A. on 01.10.13 at 3:44 pm

grow food, live, work and play upon

not “plan” upon

haste makes waste.

Are you still here? — Garth

You want me gone Big Guy just say the word. };-)

#154 };-) aka Devil's Advocate on 01.10.13 at 5:42 pm

#134Cory on 01.10.13 at 3:57 pm

In today’s market buyers are very discerning, expect and will not consider anything short of turn-key move in ready with all the bells and whistles. Generally speaking you get that more readily available in outlying areas where new houses were built to meet the exuberant demand at the peak of the bubble in 2007 and 2008. Today that is where you, seemingly, get the most bang for your buck. But there is a reason it’s the outlying areas which suffered the greatest price declines while some of the more urban neighbourhoods saw prices rise.

More and more buyers though are getting back on board with the time tested and proven real estate adage “Location, location, location”. There is a movement afoot to buy “location” knowing you can change the house but not the location. Renovations is the next big movement. You think it’s got any steam behind it now just wait it’s going to get bigger – that and infill or knockdown and rebuilds.

But this is a typical indicator of the particular point in a typical real estate cycle as that which we are in. History does tend to rhyme if not repeat. Consider it a foretelling leading indicator. And it is. But then I am just a Pumper REALTOR® with a hidden agenda; right?

#155 robert on 01.10.13 at 5:45 pm

#113 If Canada were to raise interest rates a half point this year it would absolutely cripple an already staggering RE market in Canada. There are very few qualified buyers today and there would be fewer then. I just see no light at the end of this tunnel with or without increasing rates. I do believe that the Bond market could easily collapse this year and that would send rates climbing. This so reminds me of the tech bubble when so many high flyers went no bid overnight. I just feel sorry for all the young families who could lose their homes and how do they explain this loss to their children. For any of you that take delight in this always remember you get what you give. Have a heart!!!

#156 On The Sidelines on 01.10.13 at 6:05 pm

#130 aKa D.A. ( also known as Dumb Ass )
Don’t you have a job to go to ??? Tired of reading your Dribble … Oh Ya…. your a REALTOR…..not much happening up in the Kelowna area eh…That explains why your on this blog from morning to midnight . Do us all a favour , and BUGGER OFF.

#157 Hoof - Hearted on 01.10.13 at 6:06 pm

Hey Dr Wayne..

Good thing you can cut and paste plagiarize……otherwise it would be ” Duh ….Huh ….WatchYuSay-inWillis”.

#158 Doug in London on 01.10.13 at 6:14 pm

@cramar, post #46:
Or maybe it’s encephalitis, spread by the mosquitoes, that keep people delusional in Windypeg. I remember seeing some promotional advertisement 20 years ago about the advantages of doing business in The Peg. One of those advantages, believe it or not, was the cheap cost of housing there. How things have changed!

Some time in the 19th century, there was a speculative bubble in Windypeg that drove property values to absurdly high levels. It all ended with a spring flood. Going forward, prices will likely come back to their long term norm, with or without any spring floods.

#159 R. Olausen on 01.10.13 at 6:51 pm

In the fall of o8 we moved into our 400,000 dollar luxury condo with trimmings, one mile south of West Edmonton Mall. %50 down and 35 yr mortgage with final payment day somewhere around my 92th birthday. I have been to 16 European countries and 35 U. S. of A. states plus Canada (9 provices 1 territory) and a bit of Mexico . I still like Edmonton and my condo so I will probably stay till I pay it off in 2043. The last 27 years will be financed through old age security. The F. bomb is blowing up and C. is moving on but by digging in real deep their passing shall not shake my house.

#160 Bill Gable on 01.10.13 at 7:07 pm

Although we are usually looking RE here, with “The Bearded One” – there is also a lot of macro economic discussion.

Two areas scare me, witless – DERIVATIVES, paired with non Glass-Steagall rules in the Banking system, world wide and two would be the Eurozone.

My recent trip to France shook me up. The costs and the uncertainty and the systemic rumbles, were something to behold. Paris has changed in the RE market, literally overnight.

The Unemployed rate is Depression strength in the Med States, and when the World Bank trots out Austerity – hold on to your Stanfields.

Mr. Turner = what are your takes on Derivatives and the current Eurozone rumblings?

Think this is all inter connected with Canadians, whether we like it or not.

History tells us what happened in Europe in a very similar scenario.

Sylvio Berlusconi, or Hollande or Merkel are not leaders that have lit anybody up.

One fiery Greek and some wild promises, can do a lot of damage.

Am I wrong?

#161 Smoking Man on 01.10.13 at 7:11 pm

Hilarious head of the Toronto district school board gets broomed for plagiarizing…….To me that’s productivity….

why is that even a no no…….. It saved him time, to do other things

#162 Westernman on 01.10.13 at 7:13 pm

R. Olausen,
You’re joking, right? You may take this months prize winning idiot award…

#163 martin9999 on 01.10.13 at 7:17 pm

Nice run on the SP 500 – we hiting a 5 year high

any thoughts ?!

#164 AprilNewwest on 01.10.13 at 7:19 pm

#88 – You believe their spin?

#165 Ballingsford on 01.10.13 at 7:38 pm

Here’s something to note.

I get paid 0.5% interest on my Canada Savings Bonds through payroll deduction. My bank is offering 1.2% on amounts under and over $5000.00. I know, sounds strange but the bank dude said they need to do it because the other banks are doing it.

There’s no catch except if you make more than one withdrawal (transfer to another account) in a month, they’ll charge 5 bucks. Also, you can’t use your debit card on the account. Whoopie Doo!

Anyway, I’ll just withdraw my bi-weekly contributions every 2 weeks and put them in the bank for more than double the amount of interest that the Canada Savings Bonds are paying.

#166 Nostradamus Le Mad Vlad on 01.10.13 at 7:41 pm

#105 Furst and #108 Dr. WAYNE — “Such a penchant for mindless verbosity, in conjunction with pure unadulterated horse sh++, such a talent could not be restrained, much to the chagrin of more intellectual minds.”

Au contraire! It takes two to tango, and it is good to see both sides of the equation. Please keep on keeping on!

#128 };-) aka D.A. — “. . . we do need a lot more land to grow food, live work and plan upon let alone maintain forests, rivers, oceans and other working ecosystems . . .” — It is not necessary to have more land — there is more than enough.

We just have to learn how to use it properly. For instance, if one acre of land had seeds planted properly, it would grow enough to feed several families, reducing dependency on food banks, etc.

#144 stu — “You had your way with me, Mr. Harper. Now buzz. — Garth”

If that is Harper’s level of spelling (Jr. Kindergarten), then Canada really is in the shitter!

#167 AK on 01.10.13 at 7:51 pm

#31 furst on 01.09.13 at 11:46 pm
“After much thought and consideration, it pains me so but I’ve decided to no longer post to Garth’s blog. As great as this blog is, it’s time for me to leave on a high note, my reputation cemented as one of the greats. My impact has been felt by all readers and Garth too. I bid you good night and farewell. Happy posting all and may the RE gods be with you always.”

Okay, now go easy on your way out. Don’t let the door hit you on your arse.

#168 Ken R on 01.10.13 at 8:12 pm

#150Steven Rowlandson on 01.10.13 at 5:19 pm

“To me it speaks of delusion. Did I ever mention this will not end well?”

Don’t discourage the masses. They know it all. I get house plans presented to me daily and I’m shocked how little research and planning has been done by the homeowners. They generally call me six months later, 35k-100k over budget. Can’t say I didn’t try. You get what you deserve.

#169 };-) aka D.A. on 01.10.13 at 8:13 pm

#148Andrew on 01.10.13 at 5:11 pm

DA,

http://kcr.ca/family-services/crisis-line

Everyone needs help sometime, please reach out.

You are absolutely correct Andy; everyone does indeed need help sometime. Which is why I post on these blogs. I know you and people like…

#156On The Sidelines on 01.10.13 at 6:05 pm

#130 aKa D.A. ( also known as Dumb Ass )

Don’t you have a job to go to ??? Tired of reading your Dribble … Oh Ya…. your a REALTOR…..not much happening up in the Kelowna area eh…That explains why your on this blog from morning to midnight . Do us all a favour , and BUGGER OFF.

… deep down inside are wondering to yourself “what if he is right?”. I understand that you have vested so much in your dominant belief that all is lost and it’s better to hunker down and wait for the storm to pass than venture out in it that to shift gears now you might likely never catch up. So you think I’m vested, maybe not quite so cognitively but subconsciously you are committed to the path you took.

You don’t have to be though. Open those cellar storm doors of your mind and look at the clear skies above. The storm has passed my friends. It’s getting better not worse. It’s time for you to come out of the dungeon. Time to pick up the pieces of your abandon life and catch up because the rest of us are not going to slow down and wait for you.

You can give me a bad time all you want. I really don’t give a rat’s ass. You must know that by now.

What you fail to see is that in reality I am your best friend. I am the guy who keeps telling you to get real and get your head out of your ass so that you can see and catch up to what is; instead of pissing your life away wishing for something that is never going to happen. Believe me, or not, it is your choice ultimately. But seriously people, even your illustrious leader Garth has chastised many of you for your extreme doom and gloom.

Wake up and smell the coffee! Read my words with just an inkling more an open mind. Research my statistics; they are not lies they are raw, unmanipulated data direct from the MLS® database. They are not even an oratory subject to what you think I might like them to be. They are raw unfettered statistics and they refute all that you claim has been happening. No they don’t tell the future, but nobody can; not you, not me, not Garth not anybody knows what lies in wait more than six months out. Anything beyond six months is shear conjecture.

And on that preceding note, you need to understand that neither I nor any other REALTOR worth their salt takes issue with any particular market condition as it is what it is and we know how to work it for what it is. What you need to understand is just that. You need to understand that we know how to work the market whatever it may be. Get someone to work it for you or have it worked against you. The choice is yours.

A good REALTOR® can be an invaluable resource. Or your negative preconceived prejudicial mind can preclude you from realizing that to your own detriment. Choice, again, is yours.

Disclaimer: Vancouver and Toronto and to a degree Calgary are going through a bit of a shakeout unique unto themselves. Don’t let the national media coverage of those markets and their significant constitution of the Canadian market in general mislead you. Vancouver and Toronto are somewhat unique unto themselves and have become susceptible to internal market weaknesses not present in the rest of Canada. This blog “The Greater Fool” is more preoccupied with that Toronto market especially and Vancouver to a degree but fails to take note quite as it should the stability in the rest of the country’s real estate markets.

So those of you reading this blog may want to take it’s editorials and the comment section with a grain of salt.

#170 jess on 01.10.13 at 8:14 pm

…that want our oil, namely Asia,
..i thought thorium was the new sell ;^)

“lie till you die”

He insisted Libor rigging had not been brought to his attention – even though he had made a presentation in 2007 boasting about the banks “structured Libor” business.

private financing investment or PFI e.g. In the South London Hospital Trust, for example, debt payments in one of its PFI hospitals, Bromley, are increasing at about £1m a year partly because of complex financial instruments known as derivatives that are based on the Libor rate

How Libor rate rigging has put hospitals in crisis
http://www.guardian.co.uk/commentisfree/2012/dec/20/libor-rate-rigging-hospital-crisis?INTCMP=ILCNETTXT3487

#171 };-) aka D.A. on 01.10.13 at 8:28 pm

#166 Nostradamus Le Mad Vlad on 01.10.13 at 7:41 pm
If you want to see some ingenious creation and use of agricultural land look to China

#172 Mississauga on 01.10.13 at 8:37 pm

#31 first

First dibs on name “furst” since he obviously won’t need anymore

#173 DR. WAYNE on 01.10.13 at 8:42 pm

#166 Nostradamus Le Mad Vlad on 01.10.13 at 7:41 pm

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

Someone appreciative of ‘talent’ … now go help Henny Penny unscramble her nickers …

#174 TEMPLE on 01.10.13 at 8:42 pm

#138 Nancy on 01.10.13 at 4:38 pm

In fact, neomalthusian views such as yours are very much up for debate, especially in the academic realm.

Hi Nancy, interesting comments. However, I disagree with you. In the realm of credible scientists (i.e., those who aren’t pushing an agenda) there is a solid consensus that we have exceeded the carrying capacity of the planet. You can split hairs over by how much, but I think that is irrelevant.

Carrying capacity is far more than a function of food. Besides, the low hanging fruit (pun intended) in agricultural technology is gone. It is pollyanna-ish to hope that science saves us from our rampant reproduction.

Here is a question: even if we haven’t blown past the Earth’s carrying capacity, why risk it? The consequences of being wrong are pretty grim.

#143 Bottoms_Up on 01.10.13 at 4:50 pm

Thanks for your response, Bottoms Up. You are unquestionably a troll, so I won’t debate further with you.

TEMPLE

#175 HogtownIndebted on 01.10.13 at 8:45 pm

I just caught a few minutes of “Hot Property” on CP24 here. Al Sinclair was asked by a desperate sounding caller from Hamilton if condo prices would “ever come down” in Toronto. He assured the caller that no, they would not – “people have been saying that for 27 years and it has never happened”.

He had a really bright red tie on. Very attractive. And he is educated too – from something called the “University of York” (??) He also has a flair for capitalization.

From Al’s website:

A team player since his University of York days when he Captained the Varsity Hockey Team until he graduated with a Business degree, Al had the idea to put together a hand-picked team of Real Estate Professionals with the same commitment to customer service and attention to detail that he had.

Heading a team that boosts several university degrees, two law clerks, property manager, investment consultant, builder/landscape architect, and two marketing majors as well as an on-site Broker, technical adviser and Real Estate Lawyer, Al still continues to oversee every aspect of every transaction.

His 25+ years of experience and continued success caught the eye of CP24 this past year and every week viewers can watch Al on CP24 “Hot Property” where he serves as the Real Estate expert.

(sic)

#176 A$$hole on 01.10.13 at 9:11 pm

How come my name is next to Dr Wayne in the thesaurus?

PS : Dr Wayne ..Thesaurus is not a dinosaur.

#177 Grim Reaper/Crypt Speculator on 01.10.13 at 9:16 pm

#161 Smoking Man on 01.10.13 at 7:11 pm

Hilarious head of the Toronto district school board gets broomed for plagiarizing…….To me that’s productivity….

why is that even a no no…….. It saved him time, to do other things
===================================

School Board?..

You mean Toronto has schools ?

If its true….Why ?

#178 Big Guy on 01.10.13 at 9:16 pm

#153 };-) aka Devil’s Advocate

“The word.”

#179 Denise on 01.10.13 at 9:26 pm

#149 Coastal: Regarding the House Hunt Victoria site, I rarely even look at it anymore. Quite a few are obviously RE investors, or hoping their home pays for their retirement (but they’re not ready to sell yet). Some are rather pompous “know-it-all” types.
Yes, I noticed the House Hunt Victoria poster, realtor Marko Juras here on Garth’s blog. Found it humorous & agree with you, he’s critizing Garth now on HHV because his little feelings were hurt by Garth. How immature. Marko, I live in Victoria, when/if we decide to sell our mortgage-free home, we won’t be calling you. Bad attitude buddy.

#180 claudius emperor on 01.10.13 at 9:36 pm

# 155, Robert,
So you are not sorry for the prudent people with much higher income than the average that pay huge taxes to support baby boomers and will pay even higher taxes in the future that rent and never though the can afford a house at this price levels?

Instead you are sorry for the fools without sufficient income that got into huge mortgages to buy homes they never should have had?

Let’s not forget who will be on the hook when CMHC fails. The same prudent people. An that everyone’s service would be cut as of this.

Read or watch Atlas Shrugged.
We are getting there.

#181 KingBubbles on 01.10.13 at 9:37 pm

Lots of folks drinking the kool aid in the Slurpee Capital. Winnipeg’s real estate correction will be biblical.

#182 Investx on 01.10.13 at 9:42 pm

DA: “Like doctors and engineers we (REALTORS®) do have a strict code of ethics we demand our membership adhere to.”

Please. And you expect people to take you seriously with that laughable statement.

Does the common practice of relisting property, property failing to sell, under a new list number comply with this “strict code of ethics”?

Is making potential buyers and clients believe that it’s always a good time to buy, ethical?

Is assisting clients in buying houses they really can’t afford ethical?

#183 blase on 01.10.13 at 9:43 pm

#165 Ballingsford

Please enlighten us on why you would put your money into Canada Savings Bonds. You spend more on gas to get to the bank than you earn on those. You earn 1/6 the rate of inflation. Seriously, why?

#184 Ronaldo on 01.10.13 at 9:48 pm

#54 Nostradamus Le Mad Vlad – check this out for a Tsunami in Alaska 1959 – unbelievable. Man and son lived to tell the tale. Others not so fortunate.

http://www.godlikeproductions.com/forum1/message105302/pg1

#185 espressobob on 01.10.13 at 9:55 pm

# 31 furst

Get over it dude. If you post comments on this site expect at least some abuse. That will teach you to form an opinion or show any humour. All those mean & hurtfull things help toughen one up and build character.

As for dr. payne, really? Like a bad smell that won’t go away he is here to stay! Don’t recall this creton ever offering anything useful to this forum. You see he or she missed ones calling like applying for a role on “the trailer park boys”.

#186 george on 01.10.13 at 9:56 pm

re-175 HogtownIndebted

Al Sinclair pays a fee to be on that show no one ‘selected’ him.

#187 claudius emperor on 01.10.13 at 9:58 pm

And let’s not forget the bragging…
What is wrong with losing your home if you don’t deserve it in first place? I am really looking forward towards a better world, if it comes with a huge crash let it be. What we have now is worse than socialism.

#188 Tony on 01.10.13 at 10:15 pm

Re: #144 stu on 01.10.13 at 4:50 pm

Single family homes in Toronto are tanking as we speak. As for gold nothing falls in a straight line. Give it time and it should fall back to 500 dollars U.S. or lower in the next two to three years.

#189 Snowboid on 01.10.13 at 11:06 pm

#149 coastal on 01.10.13…

Have to agree, I lost all respect for MJ after reading the HH blog posts.

The fear is apparent in Victoria, Vancouver, Kelowna and all parts between – hopefully many of them have moved on from denial and are on Plan B.

#190 Derek R on 01.11.13 at 12:04 am

#131 Spiltbongwater on 01.10.13 at 3:45 pm wrote:
Do Realtors have special keyboards that have the R with circle around it? My keyboard does not seem to have that symbol.

Three ways to get it:

1) copy it from a DA post.
2) Start the Charmap utility and copy it from there.
3) Turn on numlock, then hold down the left hand alt key, type 0174 on the number pad, and let go of the alt key. Finally turn off numlock.

CHEERS®

#191 Vangrrl on 01.11.13 at 12:20 am

#138 Nancy:
You may want to crack open, for starters, our very own David Suzuki’s ‘The David Suzuki reader- a lifetime of ideas’, followed by David Quammen’s ‘The Song of the Dodo’…. no amount of technology is going to get us out of this mess.

#143 Bottoms Up:
“…the extent of which is debatable”… good god, educate yourself. You most definitely are in need of reading “Climate Coverup’ by James Hoggan.There is no debate, there was no debate 20 yrs ago- it was fabricated to instill doubt. As Temple said, there is solid consensus.

#192 one of those retired civil servants on 01.11.13 at 9:11 am

#6 Dale from Calgary – how true #22 Tron- good one

#193 Doug in London on 01.11.13 at 12:54 pm

@Vangrrl post 191, Bottoms Up, and TEMPLE:

Is human made climate change something to worry about? I found a good video by Gwynne Dyer, a guy who is quite knowledgeable about geopolitics and related topics:

http://www.youtube.com/watch?v=aRLg8No0RVQ

Is climate change even for real? Go to 44 minutes and on in the video for a discussion on that topic.

#194 Rob in TO on 01.11.13 at 2:01 pm

#175HogtownIndebted on 01.10.13 at 8:45 pm

“I just caught a few minutes of “Hot Property” on CP24 here. Al Sinclair was asked by a desperate sounding caller from Hamilton if condo prices would “ever come down” in Toronto. He assured the caller that no, they would not – “people have been saying that for 27 years and it has never happened”.

He had a really bright red tie on. Very attractive. And he is educated too – from something called the “University of York” (??) He also has a flair for capitalization.

From Al’s website:

His 25+ years of experience and continued success caught the eye of CP24 this past year and every week viewers can watch Al on CP24 “Hot Property” where he serves as the Real Estate expert.

(sic)”

University of York? – well, there is York University as it is known to us locals here in Toronto, don’t know if he actually went there. This guy is a shark amongst other sharks, along with some guy from Monster Mortgage that regularly appear on this so called RE information show. I record it and usually fast forward when they are pumping new and resale $1 Million + condos and SFH’s.

They allow about 5 callers per show (I am sure there is a time delay to censor anyone that calls them on their lies) on what is really an infomercial. Some of the callers seem greedy, while others are clearly desperate and full of fear. These are the ones that I feel for, they are just ordinary people that want to actually own a home of some sort in this lifetime. Greed & Fear in the RE market, just like in the financial markets are the rule. The only difference is that highly traded stocks are liquid. It took me 4 years, on and off, to sell my home – the maint. fees are what scared everyone away. It was a decent sized unit, in a well maintained low rise, but it did not have all the ‘amenities’ that most developers put out there. The “Register Now!” on most of these websites is astonishing, for less than 500 sq.ft. units that won’t even be ready for occupancy for years to come…especially in the mid and downtown area.

I used to own a condo apartment that I actually lived in…I’m not a property flipper. The maint. fees got so out of line (I bought it in 1999 and stayed there for 13 years) and sold it for a small profit, compared to what SFH’s go for and am now renting. I don’t think that I will ever be able to afford decent, clean and well maintained condo ever again in the big city or surrounding areas of the GTA.

I found this site about a month ago and have been reading it almost daily. I scroll fast through the comments where others come to post ridiculous drivel and belittle each other. Comments from a lot of people are interesting and they stay on topic.

Thank you Garth for putting it out there in the way the MSM has failed to do for what seems like forever. Only recently have some of them published a little bit of truth.

Best regards to you and the others who read it and comment with a degree of respect. And thanks HogtownIndebted for finally posting about CP 24′s “Hot Property”.