The shepherd

lamb1

It was hardly a fair match. There was Brad Lamb, le Roi des Condos, all seven magnificent, macho feet of him. Almost a high-rise development on his own, dressed in designer black. Two floors below us in the private club’s garage was his hand-built $250,000 automobile. A few miles to the south, on a dozen downtown corners and sprinkled throughout the trendiest of 416 hoods, were Brad Lamb buildings.

He strode in, saw me. “I see Mr. Turner is here,” he said to his phantom entourage. But I was also hard to miss, smelling vaguely of poutine and complimentary beer nuts after 36 hours of Porter Airlines, Trudeau International and the bar babe at the Aloft. Besides, I wore my best squirrel hat.

As I may have mentioned, it was time for the annual real estate slugfest, sponsored by a hopelessly trendy, self-absorbed and condescending chain of urban mags covering the wealthiest enclaves of Toronto. Merely owning digs in a postal code where one of these publications deigns to circulate is a game point at the hair salon where I have my tail done.

CBU_md  Besides the King and I, panelists included some rock star real estate brokers, three major developer dudes and a woman who sells $4 million houses to Iranians. (She waved a copy of the current Canadian Business magazine, festooned with the headline “How low will house prices go?”, and said she was disgusted. She then looked at me.) Sadly, newly-departed BMO chief economist Sherry Cooper, who used previous roundtable chats to tell me, “you write drivel” and “clocks are right more often than you,” could not attend due to an emergency. I fantasized about that a little.

After a photo shoot involving a temperamental photog, four assistants, props, blank spaces for Cooper to be digitally inserted, and enough lights to fool Pentecostals, we began. For the next two hours every possible argument proving I’m not only wrong, but dangerous, spewed forth. The spring market has already started strongly. Interest rates can never rise because the government needs inflation to reduce its debt. Toronto is different because all the Chinese want to move here. If prices fall, people just won’t list their homes, “because why would they?” Stock markets are scary and volatile while the people love and know real estate. And my fav (from Brad): “Everything would be absolutely fine with housing if it had not been for the government involved in that blatant market manipulation.”

(Of course it was cool for F and the peckerettes to blatantly manipulate prices higher with 0/40 mortgages, unlimited CMHC coverage, first-timer tax breaks and lax lending standards – not to mention ‘emergency’ interests for five years.)

Lost on everyone, save for one pathetic, aromatic blogger, was the fact this convo was happening in a city where sales have suffered year/year drops for eight months, the average SFH has fallen 12% in price, new home construction just crumbled 53%, a condo tsunami is about to hit and the real estate board routinely manipulates its stats. But my bleatings about household debt levels, unaffordable prices and lagging incomes, plus falling market momentum, sidelined first-time buyers and price-to-rent ratios went unheard. Or maybe not.

“Okay,” the King said after the medics had finished my treatment. “I agree the market has been unsustainable. There is no way we are going to sell 25,000 condos this year. In fact, we’ll probably never sell that many ever again in a year – twelve thousand is more like it. The market was on steroids. This was not reality.”

Through my bloodied gauze I could see he was staring at me, awaiting reaction. The room fell silent. Editors laughed nervously. The still and video photographers circling the table looked at the sound technicians in wonder. Could this be an admission that sales and prices would not, in fact, rise without end? Did the emperor just duff his Calvins?

Hardly.

It was marketing. The thing you must excel at to sell $7 billion worth of properties and build $1.3 billion worth of concrete boxes in the GTA, Calgary, Ottawa and Montreal. Not for a moment did I forget this is the guy claiming investors buying his units can earn 280%, or that his free lecture at Toronto’s Sheraton Centre on February 23rd will tell you, “How to become a Multi-Millionaire through Brad J. Lamb’s POWER Investing.” If he were peddling stocks or bonds, he’d be ripped. But in real estate, he’s not just legal, he’s royalty.

Everyone at the table knows the market has slowed dramatically. Some see it as a lull. Others block it out. But Lamb smells an opportunity. Tell people what they fear, then show them how to play it. In the end, in his world, greed always wins.

Not sure, but the Hummer may have nicked a Rolls on the way out. Rich people have no idea how to build parking garages.

191 comments ↓

#1 guelphstudent on 01.30.13 at 9:51 pm

Do areas with highest growth will go down the most even thought rich people live in them? I have hard time figuring this Toronto’s housing growth hotspots map out, except the fact that prices in Scarborough will stay more or less the same.

#2 Steve Rosset on 01.30.13 at 9:51 pm

What a stupid industry. Glad I left it and went on to do something constructive.

#3 Badnews on 01.30.13 at 9:52 pm

I now have my daily dose of reality. Keep it up Garth.

#4 Jaguar on 01.30.13 at 9:54 pm

Damage control. They need it more now than ever. But it’s too late…..

#5 shanks on 01.30.13 at 9:55 pm

Ah.

#6 AK on 01.30.13 at 9:57 pm

I like sheep. Such friendly animals. :-)

#7 LilyJoe~ on 01.30.13 at 9:59 pm

Sounds like the manipulators are coming to a dead end. Glad to hear you wore your squirrel hat Garth!

#8 Kate on 01.30.13 at 10:00 pm

First? So tempting…

#9 Patiently waiting on 01.30.13 at 10:00 pm

It is amazing to me how the MSM always go to the banks, real estate boards, condo developers to get “expert opinion” about the RE market and spew it out as if they were facts.

Sadly there is more than enough sheeple to provide for these shepherds.

Luckily their decade long run is finally coming to an abrubt end. It’s not going to be pretty.

#10 Inglorious Investor on 01.30.13 at 10:03 pm

[…] “clocks are right more often than you,”[…]

And broken economists can be wrong at least twice a day.

#11 Babblemaster on 01.30.13 at 10:06 pm

Current house prices are so out-of-whack with the historical norm and more than due for a correction. Despite the vested interest of many, there should be no question about that. So, why is there in the MSM.

#12 Inglorious Investor on 01.30.13 at 10:07 pm

“For the next two hours every possible argument proving I’m not only wrong, but dangerous, spewed forth.”

Upton Sinclair said:
“It is difficult to get a man [such as a realtor] to understand something when his salary depends upon his not understanding it.”

How true.

#13 CP on 01.30.13 at 10:08 pm

Thanks for sharing Garth

#14 mortgagebrokeront on 01.30.13 at 10:09 pm

Garth you keep on keeping on, I really appreciate your honesty.

I broker mortgages obviously, I have pointed young first time buyers to your blog, and tell them that it is a real possibility they could be in an underwater mortgage if they overpay at today’s prices.

I then tell them to lowball bigtime if they make an offer, some do , some don’t so what.

#15 Djb on 01.30.13 at 10:12 pm

Garth next time you go to one of those conventions you need to hand out some Greater Fool lipstick to Brad and all.

#16 Baa'aa'aa on 01.30.13 at 10:12 pm

Fantastic writing and just what I need at the end of the day!

#17 Bazza the impaler on 01.30.13 at 10:15 pm

Hi Garth. Was there not one person present who afterwards sidled up and admitted in a whispered aside events are bearing out your predictions?

#18 Tim on 01.30.13 at 10:15 pm

“Okay,” the King said after the medics had finished my treatment. “I agree the market has been unsustainable. There is no way we are going to sell 25,000 condos this year. In fact, we’ll probably never sell that many ever again in a year – twelve thousand is more like it. The market was on steroids. This was not reality.”

He is saying what happened was not reality…So much for critical thinking!

#19 █ ♣ █ ANONYMOUS on 01.30.13 at 10:16 pm

Hope the Real Estate Market in Ontario doesn’t fall too much as its the only job creation machine in town.

Everywhere else, companies are still letting people go.

#20 ChickenLittle on 01.30.13 at 10:17 pm

And cue the Dr Wayne/Hoof Hearted/AK soap opera…Whats taking them so long?

BTW: AK: Thanks for that book recommendation you gave me about 3 months ago…I have it on my wishlist on Amazon.

Devore: Re my post last night:
What I meant was that the disclosure should not be by only reading the fine print. They should have to explain it to you in plain english at the bank when you apply, not in microscopic bank jargon at the bottom of page 12. Sheesh!

#21 gladiator on 01.30.13 at 10:18 pm

shepherds… Pentecostals…
This reminds me of the image of a young smiling shepherd with a lamb in his arms (from sect brochures). What if he is smiling at the thought that his kids will be enjoying lamb for dinner? Why do shepherds grow sheep: temporarily for milk and in the end – slaughter them for meat and skins!
Am I missing something?

#22 Dave on 01.30.13 at 10:19 pm

A couple good one liners in this artcle.

BTW, you worded the quote from the BMO chic wrong – “clocks are right more often then you” ….. it should read “a stopped clock is right more often then you”

#23 Mic D'angelo on 01.30.13 at 10:20 pm

Everyone calls them sheep. It is more like cattle. The hay is mortgages,lines of credit, vehicle loans, credit cards, student loans, etc. The more hay they get the more excited of being in debt and they think they will become rich buying real estate. We all know what happens to the herd of cattle, they get slaughtered and then cooked many ways. Steak tonight anybody!

#24 Dr. Wanker on 01.30.13 at 10:22 pm

I see smokey/smith in the background of piture with size large gum boots having his way!! Bahahaha

#25 kilby on 01.30.13 at 10:23 pm

If I was Sherry Cooper I would make all kinds of excuses not to show up. She has embarrassed herself far too often. After just being in Arizona and California for a few weeks real estate here seems even more ridiculously priced. We sold 20 months ago and will buy again but not at the current market prices, where we are there are lots of price changes and a lot of early spring listings. Will be an interesting year. A condo we rented in North Vancouver was purchased 3 years ago by Chinese investors for $540,000, they are now asking $399,000 for the same one bedroom 563 sq. ft units and they are still not selling well.

#26 EIT on 01.30.13 at 10:27 pm

Those sheep…. look like…. they want…. my soul.

#27 Dave on 01.30.13 at 10:29 pm

Brad Lamb is royalty?
Every court had its jester/joker/fool.

#28 bluesky alta on 01.30.13 at 10:29 pm

All the players who have skin in the game are doing their best to get you to buy what their selling .that’s expected its sales it keeps the whole world turning .its exciting until the music stops and your one of the people looking for a chair….then not so much

#29 Maxamillion on 01.30.13 at 10:32 pm

If you plan on buying a new home in Markham, Ont (eyes rolling) hurry up before they add a $5,000 levy to help pay for the new GTA hockey arena. I just don’t understand who is helping the homeowner pay for their home?

#30 interested on 01.30.13 at 10:33 pm

garth do you own a home or rent

Both. Why? — Garth

#31 Smoking Man on 01.30.13 at 10:33 pm

Great post Gartho…..

You where up against the art of lying, a chapter in my fantom book.

So we have masterfully liers and marketers who are loaded, the adiance schooled dummy down slaves, who cherish honesty and forth righteousness.. Duh. They are celebrity worshipers, who Dare not offend the teacher or authority. Trained slaves… Who ride track 6 everyday.

Sorry my money is on the liers,

Who do you think is going to win,

#32 Dr. Hoof-Hearted on 01.30.13 at 10:36 pm

OMG..

…….Maple Leafs Fans reunion/tailgate party

#33 Humpty Dumpty on 01.30.13 at 10:37 pm

They also laughed at Shiff back in 04 G…..

Now they Flock to him….

Peter Schiff: Why Canada Will Divorce The US And Marry China at Vancouver Resource and Investment Conference in January 2013.

http://www.youtube.com/watch?v=mCM7Qj6W_wQ

Metal Heads, this one is for you…..

A presentation by Sprott Asset Management USA Chairman Rick Rule entitled, “Bear Markets Are Best For Bargains

http://www.youtube.com/watch?v=z4Y1ip7vmJU

#34 Old Man on 01.30.13 at 10:42 pm

I was at one time in the late 1990′s hooked with a very wealthy old woman, as we had tea on many a night to discuss the crap as friends, as she was from the rock and all was on the table; omg sex, politics, and this old woman knew all the dirt in Canada.

Well she gave Garth a pass about this all, but with all her wealth and power, she made a disclosure that I will never forget, as said told me your wealth is your health, as nothing is more important, as money cannot buy it at any price.

#35 Richard and Zeus on 01.30.13 at 10:43 pm

Keep up the good work Garth. My 2003 Custom 4drht slantback with full linex coating…..is on its way to California for its annual tune up. I won’t let Canadian GM monkeys touch it. Only guys who know how to fix real Humvees touch my baby. My mechanic teaches SEALs how to drive tactical off road in his spare time. Plus the GM mechanics here rip you off and charge three times as much…..good ole Canada……

Cheers,

Richard and Zeus (BARK !!)

#36 The Prophet Elijah on 01.30.13 at 10:46 pm

You are brave Garth, or Braveheart! I just hope they dont get you like JFK.

#37 mac on 01.30.13 at 10:47 pm

Garth,

I really feel for ya. Being in a room with people who hate you and blame you for ruining their revenue stream. It’s tough. Thank God you have that one unassailable trait: humour.

#38 Smoking Man on 01.30.13 at 10:47 pm

#176 Inglorious Investor on 01.30.13 at 9:38 pm

On Rim, sorry BB

I to agree it was a ridiculous sell off, but that’s was what made me bullish. It wasn’t natural, my kids and their freinds are bored with iphone5, had them for a few years.

The chatter on Facebook is positive

Honesty, If you see it go horizontal for two sessions, go huge on Friday afternoon.

Techeys comments don’t count, it’s what the 16 to 30 year olds think.

#39 Freedom First on 01.30.13 at 10:50 pm

Garth, you have no fear, you enter the dark side, facing evil alone, yet knowingly surrounded with the light of the truth, you are calm.
I don’t know how some people managed to breathe in that room, the air must have been so dense with the arrogance of the huge ego’s from the dark side permeating the atmosphere. Good thing Sherry Cooper didn’t have the nerve to face you, as everyone would have been on the floor choking, except Garth Turner, protected with the aura and clean air of the truth. Enjoy your peaceful sleep tonight Garth, as I will, knowing that many people will not be sleeping well tonight, nor should they. I love Karma.

#40 Smoking Man on 01.30.13 at 10:50 pm

#14 mortgagebrokeront on 01.30.13 at 10:09 pm

You are such a poor lier, you really need to practice more.

#41 Axxman on 01.30.13 at 11:05 pm

..and $2.8 million houses in Mineola continue to resemble rotting fish (dooh! – I didn’t want to bring Sherri Cooper back into the discussion).

#42 pathcontrolmonk on 01.30.13 at 11:12 pm

”There is no way we are going to sell 25,000 condos this year. In fact, we’ll probably never sell that many ever again in a year – twelve thousand is more like it.”

I live in Tokyo, a metropolis with a population of 35,000,000 (GTA 5,000,000). Yesterday, the local RE association just excitedly announced the number of new condo units on sale for the year will be a paltry 10,711 units.

#43 mortgagebrokeront on 01.30.13 at 11:13 pm

smoking man, what you smoking?

most of what i do is refinances, switches, if the real estate market keeps quieting down it won’t affect me that much.

The sun rises and the sun sets, 70% of canadians will still buy their coffee at tim hortons, go to canadian tire on saturdays, and the large majority of Canadians 70% will never fall in love with renting.

only a few will be aware of the greater fool idea, and the smart ones will follow what garth is posting.. which is common sense.

The housing prices go up and they go down, if there is a mortgage on it, i am still in business.

#44 Stupesing in Cabbagetown on 01.30.13 at 11:20 pm

Your buddy Sherry might not have made the round-table but I’m sure she was there in spirit. She was quoted just the other day in a Globe & Mail article spruiking real estate. Apparently hoards of immigrants will continue to drive prices higher.

#45 AK on 01.30.13 at 11:23 pm

#43 mortgagebrokeront on 01.30.13 at 11:13 pm

“70% of canadians will still buy their coffee at tim hortons”

WOW, I am a “McCafe” guy myself. I can’t stand Tim Horton’s coffee. :-)

#46 Smoking Man on 01.30.13 at 11:26 pm

#43

Ok

#47 Boombust on 01.30.13 at 11:27 pm

Conference, eh?

Was it at Wannsee?

#48 HogtownIndebted on 01.30.13 at 11:29 pm

I was at a local court building today, trying to weasel out of a ticket via an ‘early resolution’ meeting with a prosecutor, and was sitting waiting beside several taxi drivers. We struck up a conversation and I discovered two of them were into real estate. Both were immigrants from SE Asia, and one was also a real estate broker in Markham, using his taxi plate owner’s license to generate revenue (i.e. to enslave more recent arrivals with too much trust of their countrymen and not enough English into servitude paying $600 a week in car rental payments to taxi plate owners and middleman agents who never give receipts to the poor shift drivers, forcing them into the underground economy. From what I heard, the taxi business sounds to be about as corrupt as they come and is long overdue for a CRA colonic. Almost nobody seems to pay proper income tax in this business, or HST or capital gains on the full value of plate sales which currently cost over $300k in Toronto)

Anyway, the real estate broker/taxi guy was trying to persuade the other taxi driver guy that this was a great time for RE, especially in the 905. The other guy was talking about getting a LOC on his Scarborough home to buy a condo in Markham, since it would be such a great guaranteed investment. The broker was saying how awesome this would be for him. When I suggested no to this, Mr. Broker got quite upset with me interfering in his courtship with a new potential sheep, (ewe – better not take that metaphor any further, huh?) incredulously asking whether I had ever sold real estate (I have actually, my own properties, and saved a tidy bundle compared to comparables that still haven’t sold with brokers) and suggesting my ideas of a RE turndown were ridiculous.

But the other taxi driver was listening to me, and he quickly punched into his smartphone the web addresses for guava, the Canadian Business article and this pathetic blog and said he would start reading right away. I suggested he should stay away from all condos and especially any RE in the 905, and if he was thinking of selling his home to do it right away and rent a new place, or wait a few years. He seemed open minded. The realtor was really steamed at me, and for a moment I was glad there were armed court officers around. I have a feeling the realtor might be having to actually drive his own cab pretty soon the way things are going for agents like him.

Anyway, I left thinking hopefully that I may have helped steer someone away from disaster. Thanks Garth, for the inspiration to pry one sheep from the shepherd. Good karma to us all, maybe, eh…

P.S. After half an hour, I had my meeting with the prosecutor – she was very professional and a totally smoking babe, told me she was “using her discretion to dismiss the charge”. Sweet! Even though our meeting lasted only about twenty seconds, I’m pretty sure what she said was really code for this:

http://www.youtube.com/watch?v=fWNaR-rxAic

#49 Chasicakes on 01.30.13 at 11:40 pm

Reminds me of the first debate between Obama and Romney where Romney suddenly had his etch a sketch moment and became a moderate to get elected.

#50 Mr Buyer on 01.30.13 at 11:43 pm

#48 HogtownIndebted on 01.30.13 at 11:29 pm
I get that vibe too from your story, but make sure you get all the tattoos before you hook up with her

#51 DonDWest on 01.30.13 at 11:43 pm

Garth,

You were dealing with an army of sociopaths in the room. Been there, done that. . . It’s enough to bring a chill up your spine.

#52 Angela on 01.30.13 at 11:54 pm

Your fluid prose are rivaled only by Faulkner and Tolstoy, Garth. Bravo. I could almost smell the poutine and the Rolls’ leather all the way out in Van.

#53 Dr. Hoof-Hearted on 01.31.13 at 12:04 am

Canada is….and always has been…… a colony.

This being a given….this implies we will have some form of indigenous royalty.

If we have such aforementioned royalty, this implies the right to sit on your fat a$$ , …put on a pedestal…..play with your royal scepter…….and pluck and plunder the nouveau peasants.

Hence …Brad Lamb is fulfilling his role as a Judas Goat

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

#54 T.O. Bubble Boy on 01.31.13 at 12:07 am

Can’t wait for the Post City magazine to hit my doorstep… I’ll skip right past the restaurant and realtor ads and get right to the Lamb vs. Garth main event.

#55 NoOneOfConsequence on 01.31.13 at 12:16 am

You know….I think that bloggers here are conveniently forgetting that for those of us who “got out” of the market and realized the return…real estate has been a FANTASTIC investment.
Can anyone name any other investment where you can leverage by 20 times your cash outlay, realize over 100% growth in 7 years, then cash out and not pay a single nickel in income tax?
I’ll save you some time….there is none.

Sigh….tricky timing and an awful lot of luck though. Too bad most canadians are only just starting to realize the risks.

#56 Paolo on 01.31.13 at 12:31 am

Brad Lamb. Yes the “King”!

He has ridden high over the past decade. Like all kings, the fall will be even more dramatic.

Greed. Right.

Always ends well.

#57 Shrit4brawns on 01.31.13 at 12:33 am

SM

Love ya man.

Your wrong though. 416 is caving.

Keep up the wicked posts.

#58 visorman30 on 01.31.13 at 12:33 am

I wonder if the media has taken a more negative tone towards RE then why wouldn’t the panel be a bit more balanced? Surely, they could wrestle a few of those as well.

The other question is, if Mr. Lamb is so certain his units will return 280% why doesn’t he keep that for himself? Seems like the fortune teller that guarantees a jackpot but somehow never uses that info herself. Just doesn’t seem to fit together.

#59 AisA on 01.31.13 at 12:35 am

You know, I read about the first two paragraphs before the Déjà vu kicked in, as someone who ran screaming and kicking from Canada to Greece and then ran screaming and kicking from Greece back to Canada (I was calling economic Armageddon in my genetic homeland 3 years before the fertilizer hit the air circulation system, all I can say is I am dumbfounded by your positive outlook Garth. By the way, the aforementioned was a six year long process. I literally learned my by birth native tongue while executing my debt of universal suffrage, and it still only took me 2 years after that to figure out the jig was up. It took me three years to figure out the con job in Greece, it took me a grand total of three weeks to figure out the the mindf*K of Canada when I got back. Three bedroom two bath 125k max is the new mantra. If that strikes fear in your heart, it’s because you’ve been living off of others efforts and bloody well good on you. (not personally directed to anyone, but pretty much how it is). Keep on keepin’ on. You’ve done a great service to those inclined to hear the truth. I dun’ did bein’ stupid dog gon’ nuff o my life. So it’s painfully obvious when I see others doing it around me. Binder dun dat an’ all of that. I see the forest and the trees, and the plume are about to go sky high.

I’ll read the rest now whilst I finish me suffer, I mean supper.

#60 KG on 01.31.13 at 12:35 am

Both. Why? — Garth

with your wizadry it could be the same address, is it ?

#61 AisA on 01.31.13 at 12:42 am

oh my freaking lord, 280%????? gain off the crest?

And I thought I was being precocious trading the pound with 500:1 leverage. I was. And 28% going forward is a pipe dream also.

#62 Grim Reaper/Crypt Speculator on 01.31.13 at 12:50 am

#52 Angela on 01.30.13 at 11:54 pm

Your fluid prose are rivaled only by Faulkner and Tolstoy, Garth. Bravo. I could almost smell the poutine and the Rolls’ leather all the way out in Van.

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

There was a girl from Nantucket….

(……is this mike on….?..oh…. Smoking Man is trying to date it….)

#63 Beach Girl on 01.31.13 at 1:01 am

DELETED

#64 Nemesis on 01.31.13 at 1:01 am

“Besides, I wore my best squirrel hat.”

You know… Disney/Fess Parker started something of a craze with no more than a Tune and a Racoon. I’ll bet you could you surpass them, OldPol – given the right vehicle/management…

http://youtu.be/77ZUrAW-ckw

#65 Beach Girl on 01.31.13 at 1:08 am

You will be hearing from me a bit more. As the recovery from the surgery sucks. Spent most of Jan in Dubai. My latest flame, flamed out. Was fun, with the exception he was hung like a hamster. Nothing lost, nothing gained.

#66 Bo Xilai on 01.31.13 at 1:09 am

“Everything would be absolutely fine with housing if it had not been for the government involved in that blatant market manipulation.”

Blatant market manipulation? Lamb’s got no problem with market manipulation when it lines his pockets…

#67 Bertjy on 01.31.13 at 1:12 am

A workmate owns a home in New Westminster (part of the mouldy city of Vancouver for you easterners). He decided to sell 6 months ago. Started trying to sell at appraisal value of 1.2 mil. He’s now down to 800k and he is a sad puppy, says nothing is selling. These are the real stories of what is happening out there. Tis a little different than what the real estate agents cartel is saying. Surprising huh?

#68 Don on 01.31.13 at 1:21 am

Was this a Rocky Balboa moment?

#69 tron on 01.31.13 at 1:25 am

I sent an email to a realtor asking them to contact me if ‘ this listing drops below 600k and the sellers are eager to sell’.

The property was listed at $870k and 2012 assessement was $670k. Realtor claimed current owner did $100k in renos after paying $670 for the property.

I told him an assessement of $670k with $100k in renos does not equal $870k in a market that has been declining over the last 8 months. His response was ‘”Assessed values” are derived from ignorant desk clerks who don’t even come to the homes to check on the differences’.

I suggested he take a sales course if he wanted to make it in this new market.

#70 Dr. Hoof Hearted on 01.31.13 at 1:32 am

Smoking Man’s latest venture

http://www.theglobeandmail.com/life/life-video/video-behind-the-scenes-at-a-naked-yoga-class-in-edmonton/article7619159/

#71 Nostradamus Le Mad Vlad on 01.31.13 at 1:35 am

-
“The Pentecostal Shepherd — I see Mr. Turner is here.” — At last, after all these years, you have finally found your true calling — A BRAIN SURGEON!

“For the next two hours every possible argument proving I’m not only wrong, but dangerous, spewed forth.” — The only reason you’re dangerous is because you’re right. Condos, and thus condo owners will be hit hard.

#56 Paolo — “Greed. Right. Always ends well.” — True. It’s happened before and will happen again.
*
The Chinese Takeover with free trade zones, and Obomba Selling military technology to China; Cashless Society from Bill Gates, no less; Wall St. banks Another scam; Virginia Alternative currency mobing ahead; Fatcats get fatter, but see who is left behind; Windy or how to waste taxpayer’s money; Media Industry End of a cycle, and Time layoffs; Himalayan Viagra Business is good; Perfecting the Thermostat; Big Tax Bill from the WH; Automatic Spending Cuts Not in Europe. Their growth is shrinking; Russia’s Polymetal sees gold rising past US$2K.
*
hangfire – You may be interested in this; Dog Walker To the Vomitorium we go; 22 Signs Obomba is changing the US into a large version of North Korea, and Only Rebellion will help stem the tide; Medium Clip Unsavory truth about McRibs and other foods; Clip China shows off new monster cargo jet; 228 Sheriffs say Non Merci to Obomba’s gun laws; How To evade surveillance and stay anonymous online; Garlic Still works wonders, and Hidden Connection behind viruses, vaccines etc.; Definition of anti-Semitism; The Myth perpetuated,
The Palestinians are the chosen people, Israel “This is inaccurate. Most Palestinians will reconcile with the creation of Israel, so long as Israel reconciles with the creation of a Palestine. But as long as Israel maintains the attitude that they have a right to exist but Palestine does not, no progress will be made.” wrh.com, Egypt Those responsible for the unrest; FSA (Fascist States of America) It’s on the road, and Govt. prepares for war with citizens.

#72 45north on 01.31.13 at 1:35 am

“I see Mr. Turner is here,” he said to his phantom entourage.

How low will house prices go?”, and said she was disgusted. She then looked at me.

pretty funny

patiently waiting: It is amazing to me how the MSM always go to the banks, real estate boards, condo developers.

Luckily their decade long run is finally coming to an abrubt end. It’s not going to be pretty.

I would say inevitably and no it’s not going to be pretty.

gladiator: Why do shepherds grow sheep? you grow corn and you herd sheep.

hogtownIndebted: I was at a local court building today and was sitting waiting beside several taxi drivers.

I was a taxi driver in Toronto for 6 nights, 40 years ago. Sounds like some things never change – biggest change are cell phones. Drivers now have their own clients.

ozy: 3cities: this is a study by Hulchanski, U. of T. It describes how Toronto was once a middle class city but is now 3 cities where neighbourhoods are defined by income. I grew up in the middle class city. My wife’s family moved to Wayland Avenue in the 1930′s. Looks like it is now a wealthy neighbourhood.

#73 six-figure-renter on 01.31.13 at 1:40 am

The realtor’s in Vancouver are just as moronic and self centered. I’m sure I’ll see some of them turning up as barista’s or making me a sandwich at Subway soon.

#74 Don on 01.31.13 at 1:47 am

More people I spoke today are leaving to work in Alberta, Van Island is slowly emptying, well at least amongst the younger crowd. One fella told me BC was two expensive for families.

On the island it seems a fair deal of young people owe to the banks one or more houses. Now all trying to rent out the whole house, the basement, the nook and the cranny. I don’t think I can bare to watch the main event. I wonder if they we be a push for more drastic regulation after the fall out. Their will be angry folks out there, yes no doubt their own dong perhaps with a kind shove from a friend or relative.

#75 Jordy on 01.31.13 at 2:23 am

I love sheep, they are so baaaaaaaaaad :-)

#76 Half Full on 01.31.13 at 2:42 am

He strode in, saw me. “I see Mr. Turner is here,” he said to his phantom entourage. But I was also hard to miss, smelling vaguely of poutine and complimentary beer nuts after 36 hours of Porter Airlines, Trudeau International and the bar babe at the Aloft. Besides, I wore my best squirrel hat.

Glad you have your sense of humor intact! Thanks for the laugh – great way to end the day! Great post!

#77 jjpetes on 01.31.13 at 2:49 am

Brad Lamb (pains me to write that name) free (oh thank you Gawd) lecture at Toronto’s Sheraton Centre on February 23rd, words come to mind;

Snake … West Texas Intermediate

#78 Property Target on 01.31.13 at 3:26 am

Great post Garth.

I used to wonder why they didn’t teach debt management and reduction in the schools at an early age. A few years later and a few too many tequila shots and the truth was staring me right in the face. When there is no debt, someone isn’t making money.

#79 Buy? Curious? on 01.31.13 at 3:41 am

Very brave, Garth! Have you seen what Brad Lamb did to Godzilla?

http://www.youtube.com/watch?v=8Rac224iR4U

#80 hoser on 01.31.13 at 4:09 am

#43 mortgagebrokeront on 01.30.13 at 11:13 pm

“most of what i do is refinances, switches, if the real estate market keeps quieting down it won’t affect me that much.”

Will you get to make money if people can’t switch because they have collateral loans from TD? Or Hotel California mortgages from BMO?
Will you get to make money with refinancing if people can’t pay those big mortgages you helped them get and the banks have foreclosed?
You think that a real estate downturn won’t affect mortgage brokers as well as realtors? You better think again.

#81 Khoek on 01.31.13 at 4:16 am

Brilliantly written and laugh out loud funny.

#82 Francis on 01.31.13 at 5:03 am

You have absolutely outdone yourself dear boy. Unrivalled mirth, with an absolute truth about F and his peckerettes thrown in.

#83 juno on 01.31.13 at 6:27 am

Those Retards can say what they want. The Industry needs serious regulations to protect the sheeples from the lies CMHC and Gang of thugs is spewing out.

Just like Metal hitting super sonic speeds, you can slowly see a warping in the composite as it prepares to degrade.

1) Rental for condos vacancy going up. Basement Suites must be going up also. Although CMHC says Vacancies of Condos remain the same. YEAH on paper because home owners plays a shell game to get the home owners grant. Duh! Stupid Statistics.

http://www.huffingtonpost.ca/2012/12/13/vancouver-housing-rentals-market-vacancy-for-rent_n_2295065.html

2) Old Geezers Retiring. We just had 3 retire this month. And union workers are filing into the retirement courses provided by the company.

3) Construction workers starting to feel the pain. Don’t forget the Real Estate Agents, Mortgage brokers and etc. Anyways got some real good deals from several out of work Construction workers this weekend. Its like the 1980′s all over again. Sure hope we can see 14% interest rates.

4) Government is so broke they can raise interest rates otherwise they will bite off their own foot. At the same time inflation is hitting us but they have no defense against it. So they keep on sending out propaganda saying eveything is ok

5) Debt keeps on rising due to low interest rates. Oh yeah but they can’t raise interest rates otherwise they are F&__CKed. So what to do A) more taxes – its like bricking the camels nuts, B) Kick the can until we hit default C) Reduce Government which means more unemployment. F and C got us in the mess. F is sprinting to Europe leaving Canadian this huge abortion to deal with

#84 Intuitive Missus on 01.31.13 at 6:41 am

#53 Hoof Hearted.

Just love the Judas Goat reference. Had never heard the term before but when I looked it up I recognized the behavior instantly. A few names came to mind.

#85 nubbers on 01.31.13 at 7:00 am

At some point in the future, there will be public anger over the fall in property prices. Might that be a good time politically to introduce legislation to curb the excesses of Brad and friends?

#86 Mr Happy!! on 01.31.13 at 7:28 am

“#8 Kate on 01.30.13 at 10:00 pm
First? So tempting…”

Not by almost 10 minutes…….

#87 Bigrider on 01.31.13 at 8:10 am

#172 -January 30th 8:38 PM previous blog post Garth replies -” fool’s and their money soon parted” when referencing the aggressive marketing tactics of Scotia Itrade in convincing investors with RRSP assets and other, to sell their financial assets to invest in second mortgages paying 15% that are ‘gauranteed’ by REAL ESTATE.

Garth, you speak aggressively about over exposure to RE through direct purchase of bricks and mortar and the risks of over leverage in doing so ,but very little as evidenced above ,on the risks of allocating savings from a diversified portfolio to RE in the manner above.

These sellers of second mortgages claim to have never had a default. Those who are invested in them claim that it is the best thing they ever did.

I for one would like you to share what you know about these and there pitfalls as there must be some. If you are going to dedicate day after day of blog posts toward risks of RE over purchase, surely there is a day you can dedicate to those who are investing in RE through this manner indirectly.

#88 HogtownIndebted on 01.31.13 at 8:42 am

This looks ugly. More stink from the real estate construction industry. Thousands of new home buyers in the 905 may have been gouged up to $4000 per sawdust/particle board shack over the last decade, according to this report hot off the presses.

This is appalling, and will certainly not help inflated values stay high.

http://www.cbc.ca/news/canada/toronto/story/2013/01/30/concrete-forming-competition-bureau-price-fixing-allegations.html

#89 mortgagebrokeront on 01.31.13 at 8:50 am

#79

I have been in the financial services business for years with a large book of clients. Most mortgage agents are like real estate agents. They are too lazy to make it a fulltime career. They do maybe 1-2 deals in a year. I am fulltime and thus work fulltime hours deal with hundreds of households.

I like it when business gets tougher because more people quit. Less competition

#90 2centsCdn on 01.31.13 at 9:06 am

These are crazy times. If you need a place to live (in or near the big 5 or 6 cities) … wait 2-3 years and then buy one. If you don’t … go do something else (walk, ride your bike, play with your kids, go to dinner, get a coffee, drink wine and/or beer, watch hockey, work smarter). Take your mind off of the real estate madness, lies and dilution that will take place in 2013/2014. God help the ignorant! (and house horny).

When easily manipulated, greedy, impatient and entitled people of average intelligence can easily get multiples of hundreds of thousands of dollars at their finger tips … cunning sharks will come out. It’s the law of nature (and business). Then sprinkle in lending and media machines that for self serving reasons want the insanity to continue. It’s no wonder this thing has lasted as long as it has. But economics will eventually (and are starting to) win.

Many many people will have to suffer before common sense rises to the surface and people say to themselves “WTF are we doing?”

#91 Axxman on 01.31.13 at 9:14 am

I don’t get who continues to buy the homes in the $1.7 to $3MM range. Are they boomers who decided to releverage themsleves? If so, you have to have an inprobably large income to carry such a property, especially in the GTA. But there are still some houses going over asking in the Kingsway area and central. Or are they being purchased by truly wealthy people – but it seems there must be far more very well off people than one would intuitively think. Anyone have insight? I find it frustrating because I make mid-high 6 figures with mid-six downstroke sitting on ice but with taxes, retirement savings, school for kids – I’m priced out of the market – which seems unthinkable in my income bracket.

#92 The Man From Nantucket on 01.31.13 at 9:39 am

86 Bigrider: Investing in Second mortgages.

I don’t have anywhere near all the answers, but I’ve read a few pitches and it all smells like bullshit.

My folks once took a small second mortgage on my behalf to get me some startup funds 15 odd years ago.

Good credit score, 1 year term, 12%!!!

Today, prevailing mortgage rates are a damned sight lower than they were back then.

I cannot see that anyone who you’d want to loan money to has to borrow at rate matching the rate of return these jokers are promising.

If I’m chasing high return, I’d rather take a flyer on on something like this: http://www.google.ca/finance?q=TSE:AGF.B

pays a 10% dividend at today’s price, and might give a tidy capital gain if money actually flows back into equities.

Far better tax situation than interest income from second mortgages too.

#93 jess on 01.31.13 at 9:51 am

will a better design emerge from a poor one
(the panda’s thumb )

…econ’s come into the classes selfish and come out
even more selfish … sounds like prison ;^>
http://www.youtube.com/watch?feature=player_embedded&v=moWKXQsxgN0
======

lanny breuer steps down .i guess he can finally get some sleep! The new incoming might need a job description. as senator kaufman said the health of the banks is not the job of a prosecutor – criminal behaviour is.

Dutch tax haven has 20,000 letter-box companies including U2′s
By Michael Hennigan, Finfacts founder and editor
Jan 29, 2013 – 8:32 AM

http://www.finfacts.ie/irishfinancenews/article_1025504.shtml
=
the per unit price
Horse meat from Poland ‘in British burgers for a year’, says FSA
Food Standards Agency says that “filler product” found in contaminated burgers sold in British supermarkets came from a Polish supplier that had been used for a year.

#94 Sebee on 01.31.13 at 9:55 am

Do you write episodes of Homeland in your spare time? Drama. Suspence. Violence. Survival. All in today’s episode. Yet, no assassinations.

I wonder if the dry cleaner will get the bloody poutine smell out?

#95 Weedeater on 01.31.13 at 10:00 am

@#84 nubbers
I don’t think so … for one thing Canadians don’t get outraged. Grumbling in the backyard over a beer is pretty much the extent of Canuck anger. There was a big drop in equity back in the late 80s/early 90s … and the public anger? Sheeple believed it was the fault of the economy or government instead of realizing they were part of the problem–the sad result of ignorance.

#96 CrowdedElevatorfartz on 01.31.13 at 10:06 am

@#32 Dr Hoof Hearted

Leafs Fans?

Not a chance!
Those sheep are definitely Canucks fans.
What else could explain 400+ consecutive sold out hockey games with no Cup in sight….
:)

#97 BraveGarth - the new call sign on 01.31.13 at 10:09 am

based on post # 36, I propose “BraveGarth” as our Enlightened One’s new call sign.

#98 hangfire on 01.31.13 at 10:13 am

Sad but true….Canada in worse condition than Zimbabwe…at least Mugabe managed a surplus after paying the civil service…Canada has to issue unpayable bonds to the taxpayer in the billions every year to pay the civil service.

http://news.nationalpost.com/2013/01/30/think-youre-bad-at-saving-zimbabwe-only-had-217-in-its-bank-account/

#99 Purple on 01.31.13 at 10:40 am

These realtors, lenders, economists are irresponsible and negligent. They are playing with people’s lives. People are drowning in debt and are struggling to make ridiculous mortgage payments. Marriages are suffering, the stress parents are feeling undoubtedly effecting children and I’m sure mental health issues are on the rise because of it all.

Karma is a bitch.

#100 Beach Girl on 01.31.13 at 10:54 am

Why am I constantly being deleted.

DELETED

#101 Spiltbongwater on 01.31.13 at 11:10 am

I understand the real estate market is over when your hair dresser tells you she bought a more expensive house then you own. Is the cell phone market dead when the donair guy tries to me to take an iphone 5 with 3 year contract, with my super beef no lettuce with homus?

#102 Soylent Green is People on 01.31.13 at 11:20 am

This disease is often brought on by stress just by the way. He’s rotting slowly from the inside out. Could it be Jim Flaherty can’t stand to be in his own skin? Wouldn’t surprise me; I don’t know how these CONS look themselves in the mirror every morning.

http://www.theglobeandmail.com/news/politics/flaherty-reveals-battle-with-skin-disease-in-bid-to-quiet-rumours/article8027191/?cmpid=rss1

……

I wonder if Patrick Brazeau will now mock Jim Flaherty for his weight gain i.e. “Fatty” http://www.thestar.com/news/canada/2013/01/30/conservative_mp_and_senator_belittle_chief_theresa_spence_idle_no_more_movement.html #cdnpoli #cpc

…………………

that four fook F*35 all does not deserve to get better after what he’s done to Canada, children go to bed hungry in Canada because of him

.

#103 Westernman on 01.31.13 at 11:31 am

Beach Girl @ # 65,
Please spare us the gruesome details of your lurid, cheesy personal life – you are not a teenager anymore… why don’t you act your advanced age …

#104 Dupcheck on 01.31.13 at 11:44 am

Garth, the Rrolls is nothing special, it is a BMW 7 series in heavier clothing. It is not a reliable automobile, he probably spends more time at the dealership than the coffee shop.

Any thoughts on the RIM stock or should i say BB?

#105 Ann on 01.31.13 at 11:50 am

re- mortgagebrokeront on 01.31.13 at 8:50 am
#79

I have been in the financial services business for years with a large book of clients. Most mortgage agents are like real estate agents. They are too lazy to make it a fulltime career. They do maybe 1-2 deals in a year. I am fulltime and thus work fulltime hours deal with hundreds of households.

I like it when business gets tougher because more people quit. Less competition
.===================================
If the low hanging fruit is your competition you may want to pick it up a notch lol

#106 Holy Crap Wheres the Tylenol on 01.31.13 at 12:06 pm

The post makes me feel rather sick as the stealthy Lamb wades into the flock for a Samurai slaughter. Hey a new name for the stealthy quadrupedal, ruminant mammal! Mower Mouth!

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

#107 AK on 01.31.13 at 12:09 pm

#183 InLimbo on 01.31.13 at 2:14 am
“When I closed my mortgage a few years ago, I opened up a LOC (I didn’ really need it at all…bank rep put out some suggestions I think, and I said why not). It was based on the value of original mortgage (near value of my condo)…without any request for papers to back it up…the rep just took it by word of mouth.

Well when I sold it recently I was kind of miffed (on principal, not on the amount) that it took several hundred dollars to close a LOC that I never really needed or used.”

That’s because the LOC was secured against your residence. :-)

#108 Buy? Curious? on 01.31.13 at 12:21 pm

Don’t go hating on Beach Girl!!! Smokie has said worse (no disrespect, Smokie). I want to hear what she has to say. I love chicks with balls, both literally and figuratively.

C’mon Garth, let the girl play in the sandbox!

#109 Doug in London on 01.31.13 at 12:26 pm

Garth;
I hope you went into that meeting with a voice recorder and camera, or better yet a video camera. When the inevitable return to reality occurs, you can play back what was said, and show them all how wrong they were and say: I TOLD YOU SO! Better yet, you could post it all on a Youtube video. He who laughs last laughs the hardest.

#110 coastal on 01.31.13 at 12:28 pm

Too fricking hilarious Garth. Once again you have me laughing out loud. Can you please come to Victoria and do a panel Q&A too ? We need a sense of humor out here ASAP as the denial stage is reaching epidemic proportions. The pumper blog bulls and agents are off their meds and speaking in tongues.

#111 Holy Crap Wheres the Tylenol on 01.31.13 at 12:29 pm

#38 Smoking Man on 01.30.13 at 10:47 pm
#176 Inglorious Investor on 01.30.13 at 9:38 pm
On Rim, sorry BB
I to agree it was a ridiculous sell off, but that’s was what made me bullish. It wasn’t natural, my kids and their friends are bored with iphone5, had them for a few years.
Smoking Man you must mean the iPhone 4 or 4S as the iPhone 5 was just released in September of 2012.
Your children will have them for a few more years, as the contracts here in Canada are min 3 years if they did purchase iPhone 5, unless they bought full open phones at $900.

Position on RIMM now BB I bought in large in fall 2012, last week I did some chicken-shitting and dumped 50% of the investment at $18. I could not be happier with my gains, left the balance in to wait and see. Even if I ride it back down I’m good. There was a ton of profit taking myself included. This is a volatile stock at the moment and could collapse in the next few months. I believe everyone who road the crazy train from the fall has either got off or is with me riding the RIM ride to hell. All aboard, Ha, ha, ha, ha, ha, ha, ha, ha……..

http://www.youtube.com/watch?v=otdHbA4GlSI

#112 Harvard Grad on 01.31.13 at 12:36 pm

Brad Lamb – I remember meeting him many moon’s ago – that shiny bald head of his – it stood out in a crowded room. Give him credit, he is a slick salesman, when you have a salesguy change tactic in mid-sentence without even being aware of it – you know you’re dealing with a player.

I am not a fan of Brad, but he does have the goods – wouldn’t it be something if Brad and Garth had a ultimate fight match – my money is on garth -

#113 2centsCdn on 01.31.13 at 12:39 pm

I know its against the free market economy we live in and reeks with socialism/borderline communism … but should there be a point where government comes in and aggressively tries to fix this thing? I realize there will be painful consequences from doing this. And I realize sectors involved with building and real estate will be particularly hard hit. But they are ones artificially juiced by this madness in the first place.

When your one year old runs with a knife you jump in and remove it. When your grandmother gets her walker too close to the edge of the stairs you pull her back. When foolish people can (with smoke, mirrors and lies) can get $6 – $700,000 mortgages in fragile times … there are enough of these reckless soles that they can hurt not only themselves …. but bring our whole country down.

There must be a line where the pain of fixing the problem can be seen as a much safer option than letting this thing hit maximum density and implode out of control.

#114 Dr. WAYNE on 01.31.13 at 12:41 pm

I would be very interested in what ‘you’ said, venerable one, at this one-sided crucifixion of rationale thinking. Your clipping of a Rolls on the way out was a nice exit touch, but I’d like to hear how you ‘verbally’ handled the ‘lions’ in the Colosseum.

#115 my thoughts on 01.31.13 at 12:50 pm

#90 Axxman, we ask ourselves the same question all the time.

#116 Dr. Hoof Hearted on 01.31.13 at 12:56 pm

#83 Intuitive Missus on 01.31.13 at 6:41 am

I hadn’t heard the term “Judas Goat” either until recently.

Rarely turn on the news but just caught a feature about the Real Estate Market…I couldn’t believe the crap they are spewing.

I guess it’s just beyond the average decent person’s comprehension how looooow some people will stoop.

Thousands of people are already financially ruined via this RE orgy already, and yet they still want to lure in more suckers who will end up victims ? .

Judas Goats the whole lot of them !

#117 Vince on 01.31.13 at 1:01 pm

Saw this… thought it was very weird:

It is very odd to see that you can get 3-year money cheaper than 1-year money right now. What is the reason for this? One theory is that it is a reflection that the banks are concerned about ‘locking in’ mortgage revenues for the coming years because they are forecasting the next two years to be very bad for new mortgage business (both in number and nominal value).

I would assume that, in the normal course, there should be a risk-premium for borrowing funds longer term. i.e. 3-yr rate > 1-yr rate because of the potential of an increase to the prime rate. Wouldn’t this mean the banks are expecting the BOC to LOWER interest rates, not raise them? Is there something that I am missing?

Could one of the ‘blog dogs’ help me to understand this?

5 Year Variable 3.00%
1 Year Fixed 3.00%
2 Year Fixed 3.00%
3 Year Fixed 2.79%
4 Year Fixed 3.25%
5 Year Fixed 3.08%
7 Year Fixed 3.55%
10 Year Fixed 3.89%
LOC 3.65%
(source: INGDirect website, Jan 31/13)

#118 Blacksheep on 01.31.13 at 1:02 pm

What a bunch of sheep :)

take care
Blacksheep

#119 Van guy on 01.31.13 at 1:07 pm

Garth,

Your good ol pal F is sick. Will he resign?

#120 Salvage the Sauce on 01.31.13 at 1:14 pm

Garth,

Last year you had a column in the Post that provided some much needed balance…but it disappeared after a couple months. What happened?

Still there. Past the liposuction ads. — Garth

#121 Tony on 01.31.13 at 1:17 pm

Re: #29 Maxamillion on 01.30.13 at 10:32 pm

So i’ve seen but Frank already owns his house so he doesn’t care.

#122 Pr on 01.31.13 at 1:21 pm

(Of course it was cool for F and the peckerettes to blatantly manipulate prices higher with 0/40 mortgages…)

Yes you are right! Those people where completely silent in those time. Enjoying the marvel idea of F. Now, as its start to unfold, you will see who is the good guy, protecting your beacon!

#123 Rob in TO on 01.31.13 at 1:27 pm

Brad Lamb: “I see Mr. Turner is here”

I hope, even pray that Lamb, F and the rest of these liars and cheats get their just deserts. Karma? It doesn’t always happen, have seen many of these types cruise through their cheating lives without incident. Of course, they are in the 1% and just keep sailing.

This is really depressing. Is there no justice?

#124 Tony on 01.31.13 at 1:33 pm

The only condos that won’t fall in price are all the one bedroom condos that were recently snatched up in Edmonton. It took them years to figure out something that costs 50 grand but rents out at 850 a month isn’t likely to fall in price and might actually rise. With the falling vacancy rates most provide around a fifteen percent return with zero down if they rent.

#125 Dr. Hoof Hearted on 01.31.13 at 1:36 pm

Hamilton, Ont. fires 29 city workers over ‘inappropriate behaviour’ accusations

http://www.theglobeandmail.com/news/toronto/hamilton-ont-fires-29-city-workers-over-inappropriate-behaviour-accusations/article7907092/

QUOTE:

The City of Hamilton fired 29 public-works employees Monday for time theft, breach of trust and neglect of duties.

The employees, frontline road-maintenance workers whose main duties involve filling potholes, used company time and vehicles to “go to shopping malls, go to coffee shops, go have a snooze in the park,” according to Councillor Lloyd Ferguson, chair of the public-works committee.

QUOTE:

On one work day, the private investigators found one crew only worked for 30 minutes, Mr. Ferguson said.

In total, the city disciplined 31 employees – they fired 29 and suspended two without pay for 30 days. Mr. Murray said the average annual salary of the employees is about $50,000. He said the group that was fired “wasn’t highly populated with new employees.”

QUOTE:

The city spent $18,000 for the private investigators and about $57,000 to cover unpaid leave for 31 employees during the nine days between the confrontation with employees and their eventual dismissal or suspension.

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

Good For City of Hamilton.

Opens positions for others who hopefully don’t feel (i)entitled and(ii) the right to screw the taxpayer.

Hopefully this will send shivers throughout the Civil Service .

#126 broadway skytrain on 01.31.13 at 1:36 pm

rim at 13 – got a tkt for a thrill ride on the crazy train!

once it was assumed appl was dead and would never see 20 a share, but im certainly not expecting 2 miracles

#127 Tony on 01.31.13 at 1:41 pm

Re: #110 Holy Crap Wheres the Tylenol on 01.31.13 at 12:29 pm

I made over half a million dollars in two days shorting RIM. Hint the people who upgrade the stock buy it then upgrade it then unload when the product comes to market which by a lucky coincidence happened to be the end of the month. Maybe you should’ve taken my advice on this blog about two weeks ago when i told everyone what would happen to RIM shares at the end of this month.

#128 Mixed Bag on 01.31.13 at 1:48 pm

What a great post. I had to re-read several sentences multiple times for the sheer enjoyment. Talented writer you are, Garth.

#129 Southern Ontarian on 01.31.13 at 1:50 pm

A few people chatting about RIM on here. Not that anyone wants to hear it, but my thought is this:

I just overheard some of my colleagues talking about the stock. If people like this lot are participating, nothing about what it does will be rational, and it is best to stay far away.

#130 Axxman on 01.31.13 at 1:51 pm

#100 Spilt – Or when the guy in the hardhat on the scafolding outside my Bay Street office window – in my next door neighbour.

#131 T.O. Bubble Boy on 01.31.13 at 2:09 pm

TD has a response to the collateral mortgage “scandal”:
http://www.canadianmortgagetrends.com/canadian_mortgage_trends/2013/01/tds-responds-about-its-collateral-mortgages.html

If they say this… “Using a collateral charge to pursue the borrower’s home equity to collect a credit card debt (for example) is not part of TD’s collection strategy.”… should we just assume that they forgot the word “yet” at the end?

#132 fancy_pants on 01.31.13 at 2:13 pm

Garth, you have a way with words; this was an entertaining and engaging read. thanks

#133 jess on 01.31.13 at 2:39 pm

my mother in law developed bullous p at 84. months to determine what it was. meanwhile the itching and open wounds all over from scratching were terrible. 6months into it and various steroid creams a home care nurse gave her in pesticide bath thinking it was scabies. good grief !she never needed a pill her whole life and of course what do you think pesticides do when there are open wounds ?

#134 Chickenlittle on 01.31.13 at 2:54 pm

#32Dr. Hoof-Hearted on 01.30.13 at 10:36 pm
OMG..
…….Maple Leafs Fans reunion/tailgate party

That was hilarious!
Now, having said that, why is it that Leafs fans are called stupid for liking the team no matter what, but Oilers fans are called loyal, the Canucks sell out all the time and their team has absolutely no personality (ok except for Max Lapierre).

#135 Holy Crap Wheres the Tylenol on 01.31.13 at 3:19 pm

#126 Tony on 01.31.13 at 1:41 pm
Re: #110 Holy Crap Wheres the Tylenol on 01.31.13 at 12:29 pm
I made over half a million dollars in two days shorting RIM. Hint the people who upgrade the stock buy it then upgrade it then unload when the product comes to market which by a lucky coincidence happened to be the end of the month. Maybe you should’ve taken my advice on this blog about two weeks ago when i told everyone what would happen to RIM shares at the end of this month.

Correct Tony, you are short and I am long. Perhaps I am long in the tooth! I have not really been a short guy. An acquaintance went short on RIMM and made a ton of money. Tried to convince me to do as well. My buddy set up a margin account and is very savoir-faire with the short method. I am on the other hand am in with a cash account. It is to the point now where I just don’t give a dam. I have a cast Iron stomach and have been through worse. Oh God I recall the Nortel days.

#136 jess on 01.31.13 at 3:26 pm

Competition-law expert Janda, however, said the whole idea of a free market that yields better service and prices “disappears” when companies collude

bricks and mortar
showrooming
http://www.cbc.ca/news/business/story/2013/01/31/business-best-buy-closure.html

tax shield how it works
http://www.reuters.com/article/2012/12/06/us-tax-amazon-idUSBRE8B50AR20121206

#137 Holy Crap Wheres the Tylenol on 01.31.13 at 3:32 pm

Price fixing? Say it Ain’t so Joe! Not in Canada, not here in the big smoke. Now we know why McMansions cost so much!

http://www.cbc.ca/news/canada/toronto/story/2013/01/30/concrete-forming-competition-bureau-price-fixing-allegations.html

#138 Downtown on 01.31.13 at 3:41 pm

Star article says less than 60k will be moving
Into the gta
There goes another arguement

#139 Old Man on 01.31.13 at 3:46 pm

Rim is a casino gamble, and some will win, and some will lose. This is not an investment, but rather a roll of the dice, so take care.

#140 Bigrider on 01.31.13 at 3:50 pm

#91 Man from Nantucket.

I agree with your observations but like you I dont have all the answers either.

I can tell you that many well monied individuals continue to invest in these things while at the same time turning their backs to financial assets.

It doesn’t help when lawyer after lawyer who put these deals together insist that they have never had a problem with any of them

#141 mel in victoria on 01.31.13 at 4:00 pm

Tony #126……Took your advice and shorted gold…..made 2 million last 4 days….thanks buddy…

#142 Paul on 01.31.13 at 4:07 pm

Yes, 2013 is going to be an interesting year.

http://www.castanet.net/edition/news-story-86723-101-.htm#86723

#143 Count Flipalot on 01.31.13 at 4:10 pm

I have no idea why people focus on blaming realtors, they are simply opportunists.

Foe the past ten years, Many people have known that this easy credit lending the banks were allowed to do with government approval was a recipe for disaster. We had loads of examples around the world how this movie would turn out, yet the general Canadian public fell for it.

Quite frankly, if you were foolish enough to purchase a home that you could not afford and expected it to continue going up in price indefinately, your a sucker plain and simple. This is especially true for many folks in Wankcouver.

#144 The Prophet Elijah on 01.31.13 at 4:12 pm

“Okay,” the King said after the medics had finished my treatment. “I agree the market has been unsustainable. There is no way we are going to sell 25,000 condos this year. In fact, we’ll probably never sell that many ever again in a year – twelve thousand is more like it. The market was on steroids. This was not reality.”

Its suprising Lamb would make such a statement, not sure the marketing ploy here. That they’re still going to do 12,000 – which is still pretty good? Even though more than likely they won’t even do that many.

#145 betamax on 01.31.13 at 4:17 pm

I didn’t short RIM like my gut told me to, now wish I had.

RIM’s a dead man walking. Young people buy iOS or Android — few even consider buying a BB.

#146 Devore on 01.31.13 at 4:21 pm

#67 Bertjy

He decided to sell 6 months ago. Started trying to sell at appraisal value of 1.2 mil. He’s now down to 800k and he is a sad puppy, says nothing is selling.

Listed at appraised? He should get a new realtor, one who actually knows his market, instead of one spending time getting listings and waiting for commissions to roll in. Those days are over.

#147 Beach Girl on 01.31.13 at 4:23 pm

DELETED

#148 Beach Girl on 01.31.13 at 4:27 pm

Betcha, I won’t get through. Having a Vagina is toooooo BAD for this site.

That we don’t mind. It’s the mouth that’s in bad taste. — Garth

#149 gladiator on 01.31.13 at 4:29 pm

So, maybe it IS time to bet against America?
http://www.zerohedge.com/news/2013-01-31/art-cashins-65-year-old-reason-we-are-heading-recession

Or maybe this time it’s different?

#150 Yuus bin Haad on 01.31.13 at 4:30 pm

Sherry was off with me working on her retirement speech. So far we have “Oh well, never mind.”

#151 Devore on 01.31.13 at 4:34 pm

#82 juno

Although CMHC says Vacancies of Condos remain the same.

CMHC started looking at condos in the last few months. Before that they only surveyed purpose built rental buildings. I wonder what methodology they use for condos.

#152 Denise on 01.31.13 at 4:43 pm

#109 Coastal: LOL! Good post! Could you be referring to the illustrious (choke, gag), HHV site? If it is HHV, it used to tick me off that they were in such denial regarding the RE correction that’s now happening – now it makes me laugh :)

#153 Beach Girl on 01.31.13 at 4:53 pm

See, I can’t get through. I am not as bad as Smokie, it is cause I have a vagina.

#154 Frank le skank on 01.31.13 at 4:54 pm

#142 Count Flipalot on 01.31.13 at 4:10 pm
http://bc.ctvnews.ca/b-c-s-stagnant-real-estate-market-to-see-boost-in-2013-1.1136587

Not sure what you’re talking about, with such overwelming factual data and the use of the words “should”, “would suggest” and “seems like” I guess we can pretty much say the soft landing is complete. I’m glad that CTV didn’t bother to interview someone that might provide an argument to contracdict their sponsors and decided to only interview people who are making money off real estate. You better get out there ASAP and buy before you’re priced out forever.

#155 Beach Girl on 01.31.13 at 4:59 pm

OK, thank you. But I object to what you think is not rational. I actually want to find someone to live in my guest house and maintain the property and me. What is the crime in that? I prefer a couple. Nothing nasty there. I do not wish to live in a condo, I love my salt water swimming pool, my flowering trees. Have paid someone to grow orange blossoms for me. I am so evil? Not really.

#156 :):( Ying Yang on 01.31.13 at 5:00 pm

Oh my goodness, I just realized next week we will lose the penny. How will we pay for our penny stocks?

#157 Devore on 01.31.13 at 5:03 pm

#112 2centsCdn

but should there be a point where government comes in and aggressively tries to fix this thing?

…tries to fix this thing they created?

There, fixed that typo for you.

#158 Old Man on 01.31.13 at 5:13 pm

#145 Devore – I personally have never sold a property without an AACI report because it becomes a legal document firstly, and money well spent for an expert opinion before or after a listing; never believe any Real Estate agent ever.

#159 :):(Ying Yang on 01.31.13 at 5:18 pm

New Casino downtown to cause health problems
The report also notes the findings of Toronto’s Medical Officer of Health, who concluded in his own technical briefing, “that increasing access to gambling through any means (including a casino) is associated with an increase in the prevalence of problem gambling, which presently affects 0.2 per cent of the population.”
Smoking Man a new Venue, but sorry no smoking allowed in this Casino!

http://toronto.ctvnews.ca/toronto-casino-will-bring-in-cash-but-also-healthcare-risks-report-finds-1.1015201

#160 Dr. Hoof Hearted on 01.31.13 at 5:32 pm

NHL Florida Panthers season tickets start at $7, come with free jersey and parking

http://www.cbssports.com/nhl/blog/eye-on-hockey/21555207/panthers-season-tickets-start-at-7-come-with-free-jersey-and-parking

The Panthers have season-ticket packages starting as low as $7 per game (that’s $168 per seat for the season). Even better? You also get a free jersey (one per seat with a maximum of six) and free parking.

Just for some perspective on that price for the full season, club seats for one Toronto Maple Leafs game start at $165. Lower-bowl seats at Madison Square Garden to see the Rangers range from $114 to $370 per game.

The retail value on that free jersey is about $125 if you were to purchase it at the NHL store.

The $7 seats are located in the upper deck (row 11 and higher) at both ends of the rink. And for that price who really cares where they’re at? Some people actually prefer watching games from that angle (like me, for example).

Some of the other promotions being offered by teams this season include the Sabres and Penguins offering discounted merhandise through the first few home games (the Penguins are also giving out free concession items for the first four home games) and the Tampa Bay Lightning offering a select number of season tickets (for a limited time) for $200 for the season.

The Nashville Predators had a promotion going that if you bought tickets for the home opener, you were able to get tickets to the second game for free.

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

Like I said …… Leafs fans are Sheep

#161 Dr. Hoof Hearted on 01.31.13 at 5:35 pm

#147 Beach Girl on 01.31.13 at 4:27 pm

Betcha, I won’t get through. Having a Vagina is toooooo BAD for this site.

That we don’t mind. It’s the mouth that’s in bad taste. — Garth

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

So does Smoking Man and we let him on…err but then again he is DELETED as well.

Is there a connection?

#162 Inglorious Investor on 01.31.13 at 5:46 pm

#126 Tony on 01.31.13 at 1:41 pm

It’s interesting the claims that some people make when it comes to trades. There are a number of possibilities when someone claims that they “made over half a million dollars in two days shorting RIM.”

1) They are full of $h!†

2) They are über rich in the vein of, say, Warren Buffet (or Garth Turner) and why the hell would any such individual spend any time at Greater Fool, or any blog for that matter. Oh, I know, I know… when you’re bored making all that money you spend some time trolling.

3) They sit behind a bank of screens showing lots of squiggly lines in the prop trading department at Goldman Sachs or CIBC World Markets or some other such prestigious, monied outfit, and the lucre they claim they made is not actually theirs.

How do I come to this conclusion? Well, let’s say that your claim is actually true. That you did, indeed, make over $500,000 in only two days shorting RIM stock.

OK, let’s be generous and say that over those two days RIM stock declined by 15%. If your $500,000 gain is the result of a 15% drop in RIM stock, that would mean the value of the stock you shorted was around $3.3 million.

So, if you were trading in your own account, you would need a maintenance excess of around $5 million to do that trade.

Now, it’s not very likely that a sane person would risk everything on a single trade (yes, I know you are not actually risking the entire amount because you would have a stop at which you would cover, but still). Therefore, someone who had that much capital available to short a single stock must surely have, by many multiples, more money invested in other securities. Or maybe they are, indeed, just plain nuts.

So, if you actually are that wealthy, man, I envy you. If you’re a trader at a bank, you should say so. If you’re just full of $h!†, next time claim you made a full million. If you’re going to lie, lie BIG!

#163 AK on 01.31.13 at 5:48 pm

#140 mel in victoria on 01.31.13 at 4:00 pm

“Took your advice and shorted gold…..made 2 million last 4 days….thanks buddy…”

Ha.. It took you 4 days? I made 5 million the last 2 hours. :-)

#164 EIT on 01.31.13 at 5:50 pm

You know what I realized today, i’m awesome.

#165 jess on 01.31.13 at 5:56 pm

i don’t think the investors will feel so charitable

Peregrine Financial’s ex-CEO sentenced to 50 years in jail
Reuters Canada ‎- 2 hours ago
Peregrine Financial’s ex-CEO sentenced to 50 years in jail … and was ordered to pay $215.5 million in restitution for his nearly 20-year scheme

and then there is this kind

Charity donated £55,000 while its investors claimed £46m in gift aid
The Cup Trust raised almost £100million and let wealthy donors claim huge amounts of tax relief

http://www.thetimes.co.uk/tto/money/tax/article3673519.ece

http://www.civilsociety.co.uk/governance/news/content/14338/charity_tax-avoidance_scheme_did_not_break_any_charity_laws

#166 jess on 01.31.13 at 6:06 pm

dr hoof hearted

re judas
jesus made him do it?

According to the 26-page gospel, copied in the ancient Coptic language apparently from a Greek original more than a hundred years older

http://ngm.nationalgeographic.com/2006/05/judas-gospel/cockburn-text/2

#167 Nonno Nicola on 01.31.13 at 6:06 pm

ehh ohhh, lotsa of a talk making mony from the ‘short’ rimm? what is this a speek? Nonno Nicola make a 20 million buying realestata in 50 yers.

i try to teech my amico biga rida bu he scared, he want to listen to alla this crazy speak. fugetabut rimm and buy soma nice a house, i just aska my nipote to show me this a rimm…ohhhhhhhh, this ting up down up down making me a dizy. Buy realesta only go up

#168 Old Man on 01.31.13 at 6:09 pm

Rim down today by 6.78%, so hope you gamblers had enough sense to place a stop loss order on it all, but tomorrow with gamblers will be another day, and the same scenerio holds true with Real Estate. Those holding the condo stuff will believe the MSM, and in the Spring all will be well; sorry as should have listened to Garth a year ago. Need I say more? Garth was right and the MSM is just blowing smoke for the greater fools.

#169 Hamster Godzilla on 01.31.13 at 6:21 pm

Beach Girl….

Wanna date ?

I haven’t swung form the chandelier for a while !

#170 Ogopogo on 01.31.13 at 6:23 pm

Whenever a friend or spouse begins to get house horny, just show them this Lamb-repellent rent vs. own video. It works both for the financially illiterate AND the all-out illiterate:

http://www.youtube.com/watch?v=oEBpPEi-4ZU

#171 Old Man on 01.31.13 at 6:46 pm

I just noticed that Sears Canada is laying off 700 workers, and will give you all a tip to save money. Shop online as that is a completely separate division from any store, and they will deliver the product of purchase to an outlet or a store for a pickup; how about the same product sold in the stores being bought online for 50% off. Done this often, and what is offered online might not be sold in any store.

#172 Toronto_CA on 01.31.13 at 6:55 pm

Sears laying off 700, Future Shop / Best Buy laying off 800 or 900; so large box retail stores are continuing their downward spiral. Hopefully they can all get jobs at Target?!

#173 Ballingsford on 01.31.13 at 7:24 pm

Another great post Garth!

Oh well, tomorrow is February 1st and I get to visit the Globe and Mail website for my 10 free stories to read for the month.

I wonder if they figured it out yet that they are loosing viewers and probably revenue from advertisers when folks stop going to their website after their 10 free stories and don’t bother paying the 99 cents for the rest of the month.

#174 jess on 01.31.13 at 8:09 pm

billed over 80k for a knee surgery that costs around 3k in california
read why the teacher patient refused to pay

http://www.latimes.com/business/la-fi-high-price-knee-20130131,0,6980121.story

#175 espressobob on 01.31.13 at 8:14 pm

#170 Old Man
#171 Toronto_CA

CBC Doc zone airing something similar. tonight.http://www.cbc.ca/doczone/

#176 Ann on 01.31.13 at 8:18 pm

170 Old Man on 01.31.13 at 6:46 pm
I just noticed that Sears Canada is laying off 700 workers, and will give you all a tip to save money. Shop online as that is a completely separate division from any store, and they will deliver the product of purchase to an outlet or a store for a pickup; how about the same product sold in the stores being bought online for 50% off. Done this often, and what is offered online might not be sold in any store
—————————————————————
Now if we can just get Tim Hortons on-line we will never have to go out again! Lay everyone off and put them on Social assistance

#177 Hamster Godzilla on 01.31.13 at 8:28 pm

Some B.C. Best Buy stores suddenly close as part of huge downsizing

Read more: http://bc.ctvnews.ca/some-b-c-best-buy-stores-suddenly-close-as-part-of-huge-downsizing-1.1137823#ixzz2JbPtog1f

http://bc.ctvnews.ca/some-b-c-best-buy-stores-suddenly-close-as-part-of-huge-downsizing-1.1137823

Best Buy employees at all Vancouver Island stores arrived to work this morning to find the doors locked, just three of the 15 Best Buy and Future Shop locations across Canada that suddenly closed.

Stores in Saanich, Langford and Nanaimo, B.C., shut down unexpectedly Thursday as part of a massive move to downsize the big-box giant. Best Buy stores in New Westminster and South Surrey also closed, as did a Future Shop location in West Kelowna.

In a statement, Best Buy said the move was the first phase of a “long-term transformational strategy to optimize the company’s retail footprint across the country.”

Jessica Favle was getting ready for work at the Langford Best Buy this morning when she received a call from her manager to say the store was shut down.

Favle, the single mom of a two-year-old boy, worked at Best Buy location from the first day it opened. She was shocked to hear the news.

“I really relied on this job,” she said. “It’s a pretty big blow considering I’m a full-time single mom and this was my only job.”

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

Sad, but not surprising.

#178 Nostradamus Le Mad Vlad on 01.31.13 at 8:34 pm

-
#124 Dr. Hoof Hearted — Interesting about the city of Hamilton. Other cities may follow their lead and hire private eyes to snoop on the employees. Cities can then cut their wage bills by not hiring replacements, or breaking unions. Good links.
*
GD1 lasted into the ’60s — pix; North Korea imposes martial law. With last night’s link, saying that Soros / Obomba were turning the US into a giant NKorea, this may not be too far off in the future, 14:56 clip Made in China (Capitalism) and China ‘sinks’ US carrier in tests; 1:20 clip Different presidents have different way of lying about debt / deficits; 1:14:48 doc. Debtocracy, with English subtitles; Germany Preparing for capital controls? Scandals Galore Oh those Brit. banks; Libor Lies Nothing new here.
*
9-11 trial judge annoyed by govt. shenanigans; Sandy Hook “The article originally posted by the Daily Mail the morning of the shooting was discovered to have been pulled and redirected, as reported previously by theintelhub.com in a previous article.” and Doctors or Guns Who kills more? Communist (Gun Control) Party says 2nd Amendment is dead, but Green Berets support it; Syria – France “This is why Israel just attacked, bombing a facility near Damascus. The hope is that Syria will respond, thereby giving the US an excuse to directly invade and do the job their hired mercenaries could not.” wrh.com, Obomba “Kick the US out of the United Nations, right alongside Israel.” wrh.com; Gun Control It’s the way TPTB want us to live, to be obedient sheeple, such as Mali The slaughter of civilians is well underway, and this is the only thing the west is good for now; Pakistan – Iran US meddling again; 4:30 clip This is embarrassingly silly, if only for it’s sheer stupidity. One possible cause of Chicago’s high crime rate is climate change? Philosophy – Christendom “Christians have murdered many a philosopher, but Philosophers rarely return the favor.” wrh.com; Colorado Hemp Farmers are growing it.

#179 T.O. Bubble Boy on 01.31.13 at 8:41 pm

CP24′s RE pumping Hot Property is on now… Al Sinclair made me throw up a bit in my mouth (ok, a lot).

Talking about owning vs. renting, and housing as an investment vs. other investments:
- Renting is paying an investor’s mortgage
- I have friends who have rented for 20 years, and have nothing to show for it
- Smart money is on owning
- When comparing to RRSPs: a house is a retirement asset, and when you invest $50,000 in a RRSP the gains are only on the $50,000. But when the $50,000 is a down payment in a house, the gains are on $500,000!

The whole time, I’m thinking:
- Condo “investors” are losing money every month, subsidizing renters
- Any real estate “investor” buying these days is betting on price appreciation
- When you invest $50,000 in a RRSP, the most you can lose is $50,000… when you invest $50,000 in a house (as a 10% down payment), you can lose far more than $50,000. The Land Transfer Tax alone could eat up $20,000 of that investment.

#180 Daisy Mae on 01.31.13 at 8:41 pm

#111 Harvard Grad: “Give him credit, he is a slick salesman….”

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

He is unscrupulous. He’s rich. And that’s all he is.

#181 a prairie dawg on 01.31.13 at 8:44 pm

So to summarize, Garth got Lamb basted. lol

#182 Good authority on 01.31.13 at 8:44 pm

Heard from a source that Sherry was on speaker phone.
I look forward to her quotes in future columns. Say what you like, that lady knows how to leave her mark when she is surrounded by her kind of people.

I look forward to more details in future columns.

#183 Bigrider on 01.31.13 at 8:53 pm

#166 nonno.

OMG. “Up and down maka me dizzy”…LMAO

You funny but nobody buying your’ bullashit’ abouta da realestata nonno

Ima sorry

#184 Alberta Ed on 01.31.13 at 8:57 pm

#172

“Oh well, tomorrow is February 1st and I get to visit the Globe and Mail website for my 10 free stories to read for the month.”

Go to Private Browsing on your browser and read all you want.

#185 L6488 on 01.31.13 at 9:00 pm

#90 Axxman

I’m in the same boat as you. Although no one will believe me most likely, I make about $750,000 pre-tax a year and have over $2 million in liquid assets and do not own a home. I just find it so irresponsible to put all my money into having a roof over my head when it could instead be working for me. Also, I cannot stomach paying so much in interest if I get a mortgage. I wish houses here were more affordable to that I could get something nice for $500,000. That is impossible in Toronto, so I will keep on renting. I am seriously considering a move to California within the next 5 years or so. I can buy a beautiful home there for far less than in Toronto, and the weather is better to boot!

#186 Smoking Man on 01.31.13 at 9:30 pm

So in dog house. Wife gets bad news from doc
. ME I’m getting shit faced at erils…. Not good

I’m a man it is what it is

#187 Beach Girl on 01.31.13 at 9:44 pm

#168 Hamster Godzilla on 01.31.13 at 6:21 pm

Beach Girl….

Wanna date ?

I haven’t swung form the chandelier for a while !

Hey, I am in. Don’t really prefer large appendages. So boring. Circus material. Not so interested. Actually smaller men are more imaginative. And I actually was with a Hydro worker in my 20s in Banf, Alberta. He was 25 years older and smarter, but he did actually bring the chandlier down in the hotel. Ultimate fun. Except ending up in jail. Hey, Paul, you still alive, probably not. Bummer.

#188 Smoking Man on 01.31.13 at 9:52 pm

Beach Girl Ah feel relived, confession, me small.

The Smoking Man shtic, just shtic..

Problem, even small is broken……

Thank god for booze……

#189 Smoking Man on 01.31.13 at 10:30 pm

Beach chic, glad your posting.. Need You to relieve the pressure off me Garth he’s like a broken record, me been carrying this pathetic Blog. THE wife had bad news, hopefully nothing….

Damn, shit……

#190 Steven Rowlandson on 02.01.13 at 9:38 am

When the shepherd is a wolf the flock is only so much meat.

#191 CrowdedElevatorfartz on 02.01.13 at 9:58 am

Smoking Man marries Beach Girl = Smoking Girl or Beach Boy or Man Girl or Girl man or Smoking Beach or……..