Cranky town

BAD1 modified

She’s a clinical counsellor in Vancouver, and a Christian. The latter would be irrelevant had she not written a God-help-me-please post on a Jesus blog about real estate. If you ever wonder what a house (or a lack of one) can do to people’s brains, here’s a great example:

Alastair and I have been in the market for a new home for almost a year. Almost. A. Whole. Entire. Year. We have never been in want, but we are now in a season of wanting; wanting a permanent home, wanting a place for Ansley and any other babies to grow up, wanting some stability and financial responsibility and to make something our own. In this past year we have made multiple offers with nothing secured.

The counsellor in me says, “grieve,” the willful side of me says, “fight harder,” the mom in me says, “your turn will come,” and the secret rastafarian says, “don’t worry, be happy.” But none of these seem to help in the moment. In the moment, I am simply feeling angry, sad and scared.  I am angry that I did not get what I wanted, sad that it will never be and scared I may never get what I want in the future. Present, past and future get covered in emotional wave of gloomy feelings.

Monday of this week was the most recent disappointment. The third strike. A swing and a miss. Hoping, dreaming and then riding the disappointment wave to cranky town. I woke up Tuesday morning still angry, sad and scared, the negative emotion trifecta.

Yikes. Remind me never to seek refuge in this woman if I’m feeling depressed or rejected. Hey, it’s only a damn house! I’m pretty sure God doesn’t care about bidding wars on the East side. Kinda like Joe Oliver, but with better benefits.

He (Oliver, not the divinity) has just made it clear once more than housing prices can continue to inflate, thanks to the banks’ race to the bottom, and he’ll stand by. This finance minister is clearly not made of the same stuff as was the elfin deity (as opposed to the Deity). Whereas F told lenders pushing sub-3% mortgages to shove them sideways, Oliver is content to let lenders run wild in their pursuit of market share.

So Scotia now has a 2.97% five-year fixed. DUCA, the big Ontario credit union, is at 2.79% for a fiver. HSBC has a five-year VRM at 2.55%. TD’s four-year fixed is at 2.77%. And Investor’s Group is hanging in with the 1.99% three-year teaser loan.

Wafting money this cheap into the hyperventilated real estate market is like passing out crack at Toronto City Hall. How do you possibly expect people to do anything otherwise than freebase their way to excess? With the inflation rate sitting at 2% and bags of mortgage dough available at barely half a point more, isn’t this like free money? Why not jump into a bidding war, or pay $875,000 for a century-old, buggy shack that would make a great garage?

“The old finance minister never would’ve allowed mortgage rates to go down,” says the outspoken chief investment officer at Sun Life Global. “He would’ve stepped up to do his part. The new one is more hands-off, and that’s actually a mistake. We need deleveraging to happen. You need rates to go up to slow down purchasing and for people to realize we’re in a rising interest rate environment. We’ll see a pullback in real estate of 10 to 15 per cent, but if we see rates stay low, we could see an even harder landing next year.”

Hmm. But while Sadiq Adatia was saying those sensible things to Bloomberg News, the Big Owe was defending his let-them-eat-cake strategy on BNN. “The rates are low and coming down, but a very small amount,” he said. “We don’t believe there is a major problem.”

What? But our heroine’s in a season of wanting, Joe. This is serious.

The OECD sees it that way. The international economic body is slamming Canada this week for creating a textbook housing bubble. Ottawa is basically nuts, it says, for policies which have goosed real estate, made the big cities unaffordable, massively increased family debt and left households vulnerable to economic shocks or rising interest rates.

The big devil: CMHC. Why, asks the OECD, does Canada insure up to 100% of high-risk, high-ratio, high-leverage house loans when most other countries give lenders coverage equal to only 10% to 30% of outstanding loan balances? By doing so, Ottawa is creating moral hazard for the lenders, wiping away their risk and encouraging them to lend excessively, especially to inexperienced buyers with little or no equity.

“Extensive government involvement in mortgage insurance exposes taxpayers to more risk than is necessary for ensuring a liquid and efficient market,” the OECD report explains. “Imposing a deductible on mortgage insurance, as is common in other lines of insurance, would help promote stability by better aligning the interests of the lenders and those of the insurer, thereby reducing moral hazard. Over the longer run the insurance activities of CMHC could be privatized, shifting the government’s role to one of guaranteeing only against catastrophic losses.”

There you go. Cheap money and risk-free lending. Verily, I say unto you, these are the things which have prevented Julia from entering the garden. And she so deserves to be there. Like all Canadians, she’s entitled to own property. Mr. Oliver said as much.

And think of poor Alastair, waking up beside a house-lusty woman with negative emotion trifecta. Let us pray.

294 comments ↓

#1 Rob on 06.11.14 at 5:21 pm

Just in from cbc news.
Its being considered to introduce a mandatory deductible for cmhc mortgages to reduce taxpayers burden.
Wow, could it be our government is growing some marbles on this issue finally ??

#2 Frank on 06.11.14 at 5:24 pm

First?

#3 FutureExpatriate on 06.11.14 at 5:27 pm

“Secret” “rastafarian”?

Her problem isn’t real estate horniness; her problem is she’s a pothead.

#4 Victor V on 06.11.14 at 5:29 pm

OECD on Canada: Rising disparities in housing, wealth, between areas

http://www.theglobeandmail.com/report-on-business/economy/oecd-on-canada-rising-disparities-in-housing-wealth-between-areas/article19119203/

#5 Alex on 06.11.14 at 5:35 pm

Keep up the work Garth … You’ve brought some really good awareness for some of us that are willing to listen and learn from experiance …Also FIRST

#6 Londoner on 06.11.14 at 5:42 pm

I guess having a baby wasn’t making something of their own and they don’t need to exercise any financial responsibility until they buy a house. Yup, people are stupid. Probably the same reason they turn to religion for guidance.

Btw – US trading volume is very light, which means a short-term pull back of S&P to 1900 is likely but this looks like it’s taking place in a bullish intermediate term structure.

#7 Rob on 06.11.14 at 5:53 pm

#6 Londoner on 06.11.14 at 5:42 pm
I guess having a baby wasn’t making something of their own and they don’t need to exercise any financial responsibility until they buy a house. Yup, people are stupid. Probably the same reason they turn to religion for guidance.

Yes, but there is always the on the other hand.
Rents in canaduh are tooooooo expensive and as much as is feels stupid to pay these cosmic out of galaxy prices, paying these criminal high rents really is painful and heartwrenching.
As long as rents remain this stupid high the desire to own will never go away.
Of course, it is all the crooked government’s fault.

#8 Rob on 06.11.14 at 5:54 pm

Yes, but there is always the on the other hand.
Rents in canaduh are tooooooo expensive and as much as is feels stupid to pay these cosmic out of galaxy prices, paying these criminal high rents really is painful and heartwrenching.
As long as rents remain this stupid high the desire to own will never go away.
Of course, it is all the balless shitful crooked government’s fault.

ALSO. check out the rents in the powerhouse of Germany.
Its a shocker what a ripoff canada is.

#9 DJG on 06.11.14 at 5:58 pm

There will not be any action on housing of any substance between now and the next federal election. A sharp tightening of credit or anything else that would make the average Harper voter feel poorer will simply not be on the table.

#10 Teacher's Ass-istant on 06.11.14 at 6:01 pm

Wow the Lord is really branching out. I saw Rob Ford tell Mansbridge that he had a come to Jesus moment a while back and thought I’ll have one of those too. So I got on my knees, placed my palms together and a voice boomed inside my head. It said please leave a message God is busy with Christian Mingle, now he’s also involved with real estate.

Or could it…maybe…just possibly be that F has now taken up a new right hand position similar to when he was King Stevie’s right hand man? He may have intervened to save these people from themselves. F that is.

At any rate the OECD is making way to much sense for Ottawa to listen. Unfortunately.

#11 einsturzende neubauten on 06.11.14 at 6:02 pm

up to a debate whether it’s sad or funny but it is a fact: real estate is a religion here in canada (hell of renting, purgarory of mortgage payments; heaven ow ownership and supreme sainthood of flipping at profit). house matters more than anything. and prices will continue to rise. the whole mess is best ignored.

#12 Herb on 06.11.14 at 6:07 pm

Why would anyone be surprised at Oliver’s lack of performance? The man is merely hearing his master’s voice.

Remember the “Great Financial Crisis” of 2008? This is the same Harper Government that discovered it the day after the October 14, 2008 election. And it suddenly will discover a disastrous housing bubble the day after the next election and initiate the painful steps of dealing with it.

Until then, buy on! We are in good hands with Stephen Harper.

#13 prairie person on 06.11.14 at 6:10 pm

To Old Man,
Yesterday, you tempted us with visions of Cesar abdicating his throne or an election being called like a thunderclap. Will these possible events only take place upon the results from the Ontario election? Was Ottawa buzzing about something else such as??? I’m not sure what Ottawa buzzes about. Although Garth makes good sense, here on the prairie, there appears to be no sense. Money has quit being meaningful. It’s like Throwaway Day in which everyone puts what they don’t want on the boulevard and others help themselves. It isn’t even worth having garage sales anymore. Anyone can buy a house. Anyone can borrow money. We thought the Americans were crazy. We’re showing them what crazy is really like. Ottawa looks like a trap from which no one can escape. Politicians have no business being in business (CMHC). Duffy’s 90,000 is just pocket change. A silly distraction. Oda’s 15.00 orange juice is meaningless. Let’s hope the Americans don’t raise interest rates.

#14 Rob on 06.11.14 at 6:13 pm

12 Herb on 06.11.14 at 6:07 pm
Why would anyone be surprised at Oliver’s lack of performance? The man is merely hearing his master’s voice.

Exactly, the big owe couldn’t find his dink if his depended on it.
Good grief.

#15 Old Man on 06.11.14 at 6:14 pm

These women all have nervous breakdowns when they see their peer group moving ahead with a home bought on debt. They cannot be left behind as it don’t look or feel good, so they rationalize reasons to buy one out of passion. Then they step it up on the hubby by screaming and beaching 7/24 that she wants one too or else.

#16 Piano Man on 06.11.14 at 6:15 pm

Wouldn’t tightening mortgage regulations at this point have the potential to cause a sharp housing correction? If so, why would Joe Oliver want to be seen as destroying wealth like that? At least if he’s hands off, and a correction occurs, he can arguably say he didn’t cause it, the market just did what it did without his involvement.

Who really wants to go down in history as the one who popped the bubble anyway? Despite it being healthy in the long term, you’d be known by many as the guy who destroyed your wealth.

#17 Shawn on 06.11.14 at 6:21 pm

Deductible on CMHC insurance

I like it, that makes a lot of sense. Gives banks some skin in the game. In fact they they would bleed the first few drops of blood while being protected from real blood loss.

Good idea. It will likely only be on new mortgages.

Could be a game changer as the bank may now want to charge higher rates for lower credit ratings.

#18 Joseph R. on 06.11.14 at 6:23 pm

Prosperity Gospel: Pray Jesus to give you things because that’s want he wants for you!

History’s most famous vagabond would, of course, want you to have a big house, a giant screen TV and a beautiful SO! Pass the collection plate!

Can God create a collection plate so big He himself can’t fill it?

#19 pbrasseur on 06.11.14 at 6:23 pm

I feel I must respond to Garth’s comment to my post in the previous thread when I wrote:

If it’s an excellent company how is it (buying a single S&P 500 stock) worse than an entrepreneur using all he or she has to start a business?

He said:

Your dumbest comment to date. An entrepreneur controls his enterprise and destiny. A person putting his whole wad into the stock of a company he has zero influence over (in another country) is gambling. — Garth

An entrepreneur controls his enterprise and destiny, really?

http://www.forbes.com/sites/ericwagner/2013/09/12/five-reasons-8-out-of-10-businesses-fail/

“According to Bloomberg, 8 out of 10 entrepreneurs who start businesses fail within the first 18 months. A whopping 80% crash and burn.”

Forgive me sir but I do prefer my chances with Wells Fargo….

As far as the foreign country part goes I’ll just say that I trust that the American market is far better regulated and policed than the Canadian market. It is no coincidence that Conrad Black was nailed there and not here…

#20 Old Man on 06.11.14 at 6:25 pm

#13 prairie person – search for The Hill Times and read all about it.

#21 Joe2.0 on 06.11.14 at 6:26 pm

World Bank down grades Global economy.
VIX almost same pathetic numbers as 2007.

This could be a precursor to the painful but long over due unravelling of the overinflated markets.

Curtains?

#22 Babblemaster on 06.11.14 at 6:33 pm

Prudence and caution as preached by Garth have absolutely NOT worked in this RE environment. I hate to say it, but Julia should just swing for the fence on her next bid. There is really not much to fear because the only thing that would cool this RE market is a big hike in interest rates and that is obviously NOT happening for a long, long time.

#23 sheane wallace on 06.11.14 at 6:33 pm

The big devil: CMHC. Why, asks the OECD, does Canada insure up to 100% of high-risk, high-ratio, high-leverage house loans when most other countries give lenders coverage equal to only 10% to 30% of outstanding loan balances? By doing so, Ottawa is creating moral hazard for the lenders, wiping away their risk and encouraging them to lend excessively, especially to inexperienced buyers with little or no equity.

—————————–
In no other country on world does the CMHC equivalent exist, there is no government involvement in mortgage insurance anywhere else. period.

It is con’s invention.

#24 TheCatFoodLady on 06.11.14 at 6:39 pm

Disclosure: I am not a person of faith & the following comment is not meant to be rude, snide, insulting or detrimental to those who do practice a faith…

Has Julia considered that she HAS had her prayers answered; simply not in the way she’d hoped?

“Thou shalt not buy a house in this over valued market.”

#25 Weener on 06.11.14 at 6:41 pm

Is the interest rate policy O’s decision or Harpo’s? The Cons are pushing an economic prosperity message as we ramp up towards an election. I can’t see any Minister acting or making any decisions without Grand Poobah Steve-O blessing it first.

#26 R on 06.11.14 at 6:43 pm

Proof positive, the Canadian lust for RE is pathological.

#27 randman on 06.11.14 at 6:46 pm

This is so typical of a woman’s (especially Western raised) hysterical and emotional absorption into the me me now now framework of our times.

As an example the line ” I am angry that I did not get what I wanted” says it all.

Men need to run from this kind of crap illogical “keep up with appearances on facebook” mentality…that’s right
run ..or be run over by the debt steamroller

All too common with Canadian women IMHO

#28 randman on 06.11.14 at 6:49 pm

Rob

“Rents in canaduh are tooooooo expensive and as much as is feels stupid to pay these cosmic out of galaxy prices, paying these criminal high rents really is painful and heartwrenching.
As long as rents remain this stupid high the desire to own will never go away”

Sorry pal..calling BS …move back in with Mom ..if you need to

#29 randman on 06.11.14 at 6:51 pm

“Hmm. But while Sadiq Adatia was saying those sensible things to Bloomberg News, the Big Owe was defending his let-them-eat-cake strategy on BNN. “The rates are low and coming down, but a very small amount,” he said. “We don’t believe there is a major problem.”

Translated from political speak to layman’s terms……

HOLY CRAP! WE HAVE A HUGE PROBLEM!!! WTF ARE WE GONNA DO?

#30 sheane wallace on 06.11.14 at 6:55 pm

BTW the US GDP was revised down to -1.6 % for the first quarter which considering 6 % food inflation is probably 3-4 shrinkage in real/non nominal terms.

We already read that corporate profits are due to wages going down. Does it look like class warfare coming? We will see in the elections tomorrow.

Not that I don’t like profiting from the stock market, I am just more and more concerned that these ‘profits’ are just paper profits in nominal reference terms but has nothing to do with real growth.

It somehow feels that the real growth is somewhere else outside of the debt saturated english-american empire.

It is mind boggling how the rich could be so stupid, thinking that by impoverishing the middle class they are actually getting richer.
They are not ,they are losing control and the BRICS will take it. We need real leaders not the idiots in power.

#31 Shawn on 06.11.14 at 6:58 pm

CMHC deductible

It would be complicated. If there is much risks the abnsk would want to bundle and securitise the mortages to investors.

OSFI will be concerned by the extra risk as will the deposit gurantee corporation.

Not easy to implement. Do not hold breath for this.

#32 Roman on 06.11.14 at 6:59 pm

Christians came to the housing market.

I think its safe to say Canada is doomed from now on, Amen.

#33 Brad on 06.11.14 at 7:01 pm

LOL! Best blog post ever! Garth Wins.

#34 Julia on 06.11.14 at 7:03 pm

Wow. Nothing like being publicly mocked and shamed. Talk about being kicked when you’re down.

#35 Mister Obvious on 06.11.14 at 7:03 pm

I miss F. The only finance minister who, in his last days, very nearly refused to carry out the dictates of the prime minister’s office. Almost grew a pair.

One hopes he now occupies a higher office and is perhaps better positioned to influence events. Amen.

#36 hohoho on 06.11.14 at 7:07 pm

” … I am angry that I did not get what I wanted …”
O boy
Quick! get this woman a house before she hurts someone.

#37 R on 06.11.14 at 7:10 pm

Forgive me posting again, but you really need to grab that line as the title for your next book:

A Season of Wanting: *subtitle here*

By Garth Turner

#38 GsAmazon on 06.11.14 at 7:13 pm

Just wow. where do i begin? so ridiculous. so embarrassing. i lol’d.

#39 Cici on 06.11.14 at 7:14 pm

#6 Londoner

You took the words right out of my mouth.

I almost passed out reading that nauseating, self-serving and narcissistic drivel.

“We have never been in want, but we are now in a season of wanting…” Uggh, get used to it honey, a new world order is upon us :-(

#40 Conservatives HATE free markets on 06.11.14 at 7:15 pm

Conservatives hate the free markets and have backed almost a TRILLION dollars of sub-prime mortgages so banks can keep all the profits while taxpayers take all the risk. A TRILLION dollars. Do you even understand this number? 1000 Billion dollars or a million MILLION dollars that is all backed by the taxpayer. When conservatives comments a crime against Canadians they go big

#41 Rick on 06.11.14 at 7:17 pm

LOL Alastair you poor bastard you bought it.

#42 Cici on 06.11.14 at 7:17 pm

#34

Wow. Why don’t you count your blessings and be thankful that you live in a war-free zone, have clean water to drink, safe and secure rental housing, a healthy child and a loving husband who can tolerate you.

#43 kiLLAbOY49 on 06.11.14 at 7:18 pm

Interest rates aren’t going up any time soon, supply isn’t going up any time soon, demand isn’t going down any time soon…

#44 Old Man on 06.11.14 at 7:18 pm

#29 randman – the olive man is one donut short of a full dozen. He knows nothing and needed a prepared script to read or becomes confused; might be hearing voices too.

#45 Not an economist on 06.11.14 at 7:24 pm

Wafting money this cheap into the hyperventilated real estate market is like passing out crack at Toronto City Hall.

http://oi54.tinypic.com/207tbx2.jpg

#46 Ronaldo on 06.11.14 at 7:26 pm

Methinks Julia needs professional help. Yikes.

#47 Retired Boomer - WI on 06.11.14 at 7:27 pm

Ah, the prosperity Gospel!!!

God wants you to be happy. Well, no shit people. The gospels say “the blessings of the Lord have no sorrow.”

Buying a house in an over-priced interest rate goosed market just MIGHT be quite sorrowful later.

Whether you believe, or don’t I could give a rat’s yas to each their own.

“There is a time to buy, and a time to refrain from buying,” to paraphrase Ecceliastes. “Don’t build a tower unless you know its full cost” to paraphrase the Babel Masters.

So, keep your down payment growing, keep renting, keep up your Rastafarian habit, and accept your answer as given a “NO-Not at this time.”

Wait for the FOOL MELT beginning shortly in your hood.

So, here endeth your gospel lesson for today!

#48 Tim Who'd Axe on 06.11.14 at 7:33 pm

Hope everybody’s ready to vote tomorrow :)’ :)’ :)’

*Special announcement*

In my first act as incoming Premier, I declare tomorrow a statutory holiday for Lieberals. You are welcome to vote the next day, Friday the 13th. (PC Ontario shall not be held responsible for any misfortune that may befall on a Friday the 13th)

Remember, I am the only one being honest with you.

#49 Nemesis on 06.11.14 at 7:34 pm

#ConversationsWithBeardedPatriarchsInTheCloud. #WhateverYouDoJustDon’tGrovel. #It’sToughBeingAKnightErrant. #HolyGrails,Batman!

http://youtu.be/iZhLDo09D68

[NoteToGT: Many a VenerablePilgrim has been smitten by a HouseLustyKitten. Hopefully, Julia’sConception was neither ‘Sterne’ nor Immaculate… TheDevilMadeMeDoThat.]

#50 Vangrrl on 06.11.14 at 7:35 pm

#27:
Yeah. Not a Canadian thing, feeling entitled and wanting things NOW. A Canadian woman thing.
Jesus (no pun intended)….

#51 crowdedelevatorfartz on 06.11.14 at 7:50 pm

This lady’s self serving babbling drivel is nudging me further towards my belief that most “christian” people are simpletons and loons…..

Pray to God for a winning lotto ticket Julia you have about as much chance winning as being hit by smiteful lighting.

House Envy…….one of the 7 deadly sins……

#52 Entrepreneur on 06.11.14 at 7:51 pm

Oh dear, what is with the desperation to buy…herd mentallity to be like the others. Time will dictate when you will buy, and hopefully own a house. Some people don’t mind debt and feel comfortable paying the interest with no real thought. After all, everyone is doing it so it must be the right thing to do. I think we need some lessons or pointers on NOT to follow others, be a copy cat. What will you say when the market takes a downturn? You still want to be like the others?

#53 Joe2.0 on 06.11.14 at 7:55 pm

Religion.
Have you ever looked up the words Greek roots.

It’s what ever you ‘worship’ or consider to be the main influence of your life.

Jesus, money, porn, cars, women, nature, work, food…
What’s it gonna be?

Everyone’s religious.

#54 takla on 06.11.14 at 8:00 pm

Theres lots of poor alasters out there adding thier names next to their house horny,nesting wives on the dotted line ,200,300 ,400 tho morgages,dont worry dear its just a number,if we don’t buy now we will be priced out forever!!
SAD but true unfortunately.What a way to have to learn a lesson.
When is this RE bubble gonna blow,im thinking the fall/winter market ….remember bad weather…risk on

#55 bdy sktrn on 06.11.14 at 8:03 pm

Her problem isn’t real estate horniness; her problem is she’s a pothead
—————————-
who says it’s a problem?? for some it’s the solution:)

but the god types are not really into it.

#56 gh elliot on 06.11.14 at 8:08 pm

sadly, I too, am in a season of wanting..
I covet my neighbor’s ass, etc.

#57 Rob on 06.11.14 at 8:09 pm

“Of course, godliness with contentment does bring a great profit.” – The Bible

Contentment = renting = investing in stock market with disposable income = GREAT PROFIT

#58 Old Man on 06.11.14 at 8:14 pm

This is a good one, as a TTC driver along his route was ranting to his passengers on his speaker phone all the sordid reasons why they should not vote for Hudak. I guess he was running a bus tour, but sounds cool to me and am sorry for missing his bus rant. Must have been very entertaining – bravo!

#59 Observer on 06.11.14 at 8:16 pm

At least in Hong Kong, the government does something about it…

At the other end of the market thousands of impoverished workers are forced to pay extortionate sums for the right to live in minuscule metal “cage houses” inside old factories and warehouses.

Since coming to power last year, Hong Kong’s chief executive, Leung Chun-ying has been struggling to bring prices under control with a series of new measures including hefty stamp duties intended to put off short-term speculators.

http://www.telegraph.co.uk/news/worldnews/asia/hongkong/10165226/Estate-agents-march-in-protest-at-moves-to-control-sky-high-Hong-Kong-property-prices.html

All we hear locally is, “quick….hide under the desk….the McCarthyflation siren is about to sound!”

#60 TurnerNation on 06.11.14 at 8:18 pm

Cover story for this month’s vapid, trashy Toronto Life mag: raising families in tiny downtown kandos, as they cannot afford houses.
Dismal Soviet-era apartment blocks.

“Agenda 21” much? They are turning us into the 2nd World. Only Party Elites and Faithful will have prosperity.

#61 T.DOT on 06.11.14 at 8:24 pm

So having a mortgage come due this summer what’s the best play? Variable, 5 year, or 10 year?

#62 Nemesis on 06.11.14 at 8:31 pm

#BonusZen. #TheDevilMadeMeWantThatHouse!

http://youtu.be/0SLifea3NHQ

#63 Freedom First on 06.11.14 at 8:39 pm

Julia, if I could offer you a suggestion seeing how I know you are a Christian. The “Proverbs” in the Bible are there to give practical guidance to Christians for all aspects of life, including your present personal dilemma. Also, Julia, that you are a Christian suffering from a case of the “wants” for a house of your own makes Christians look greedy, selfish, and self-centered. Julia, have you forgotten the billion people in the world who are malnourished, hungry, even starving to death? All of the people who are really suffering from many different extremely horrific problems?

#64 bigrider on 06.11.14 at 8:40 pm

100 billion plus stars in our galaxy,each multiplied by a number of planets, multiplied by 200 billion galaxies in the observable universe and this women thinks her God, or bronze age historical character Jesus is listening to her prayers for a house in Vancouver ??

People , their kooky religions and beliefs. Let them all go and you will be better for it.

#65 gladiator on 06.11.14 at 8:44 pm

Big Owe is executing C-czar’s orders to keep the party going till the elections. They NEED a clean win and keeping debt gluttons happy and oblivious to what’s coming is primordial.
It’s all about the election, so don’t expect any drastic moves before September 2015. It doesn’t matter that savers are punished for being smart with their money. It doesn’t matter that keeping this madness going will make the climax only worse and more painful than if stopped now. It doesn’t matter that Canadians now look quite dumb to Americans, Irish, Spaniards, Japanese, Brits and others whose painful experience we are going to replicate at home and make it even more painful to ourselves. Masochists? Nope. More like pawns in C-czar’s game of power. He will win. We all will lose – owners and renters alike.

#66 I'm stupid on 06.11.14 at 8:45 pm

A funny thing happens when you actually have a million in liquidity, you don’t want to spend it. When you don’t have any money, the monthlies are all that count.

Since the majority of conservative voters are home owners, you can bet your ass they’ll do whatever it takes to keep goosing the market.

#67 Dwilly on 06.11.14 at 8:46 pm

Best post in a while, Garth! Made me laugh a lot. Lesser men may consider the whole biblical lusty lady thing to be just too easy, but I like that you still took the shot!

#68 Old Man on 06.11.14 at 8:46 pm

#62 Nemesis – I can see you love the movies, so why not check out this flick called DeVour and give us a review.

#69 Daisy Mae on 06.11.14 at 8:48 pm

#33 Brad: “LOL! Best blog post ever! Garth Wins.”

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

Garth wins, as always. Wasn’t this blog funny? Loved it!

#70 Daisy Mae on 06.11.14 at 8:52 pm

#34 Julia: “Wow. Nothing like being publicly mocked and shamed. Talk about being kicked when you’re down.”

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

Give me a damn break….and give your head a shake.

#71 Smoking Man on 06.11.14 at 8:59 pm

Can’t break this fever..

Their is no God, human consciousness, is a tragic misstep in evolution. We became too self-aware, nature created an aspect of nature separate from itself, we are creatures that should not exist by natural law. We are things that labor under the illusion of having a self; an accretion of sensory, experience and feeling, programmed with total assurance that we are each somebody, when in fact everybody is nobody. Maybe the honorable thing for our species to do is deny our programming, .

Go insane…..

#72 espressobob on 06.11.14 at 9:00 pm

#19 pbrasseur

Some years ago I believe it was ‘Dun & Bradstreet’ that said the number one reason businesses fail is due to incompetence. Yup!

Many retail investors should suffer this way?????

#73 prairie person on 06.11.14 at 9:07 pm

To Old Man,
Thanks for the link. Read the article, scanned the paper. This paper only confirms my view of Ottawa being the most narcissistic city in Canada. Five days of reading it and my brain would rot away. There have been rumours of Harper retiring for the last year. I sounds more like hope on the part of the writers than desire on the part of the PM. A snap election? Could be, the economy looks like it is heading down so better to go to the polls before rather than after. Tomorrow’s Ont election may have some influence. The feds will have been keeping a close eye on what is happening, taking their own private polls. If Wynne gets a majority, will the fed Conservatives make a move before the move to Liberals affects them? Or, if Hudak gets a minority will that encourage the C’s to think this is the time to strike? The permutations are endless. One thing we know is that a party in power seeing a looming problem will want an election before the problem affects the voters. Numerous reports in the last six months have said that the situation re CMHC loans and public indebtedness pose a serious risk to the Canadian economy. I get the uncanny feeling that I’m once more listening to the Icelandic prime minister when he was warned by a credit agency and by Danish economists that Iceland was at risk. “They don’t understand Icelandic economics,” was his reply. This was shortly before the system collapsed.

#74 TacleTeple on 06.11.14 at 9:09 pm

… and what Garth is too kind to say in this post is that when the bubble goes pop and 30% of owners are under water, CMHC has to step in to pick up the poop. Net result? Canadian national debt increases, govt bonds tank, etc.

Funny the new york hedgies are dumb enough to be shorting Canadian banks. They should be shorting Canadian bonds… yikes.

Seriously – do not buy in this market – please…

#75 Nemesis on 06.11.14 at 9:10 pm

#Tonight’sLast. #WasWisconsinReallyThatBad? #GodAin’tJustAWoman,She’sQuebecois! #ObligatoryDogmaForMauvaisChiens!.

http://youtu.be/tA3dzBrXYtc

#76 Dominoes Lining Up on 06.11.14 at 9:17 pm

CBC news reporting that the Iraqi militants are worse than al Qaeda, and have captured lots of American weapons and aircraft, heading to Baghdad.

Who would have predicted this weeks ago?

Looks like a major regional black swan event is brewing.

Precious metals will be on my buy list big time.

#77 Dominoes Lining Up on 06.11.14 at 9:18 pm

CBC also reports that many of the Iraqi militants are young men

From Canada.

#78 bigrider on 06.11.14 at 9:18 pm

#71 Smoking man.

I agree with your general train of thought except for your conclusion that consciousness being a tragic misstep in evolution. I would call it a wonderous and inevitable result of the infinite multitude of mathematical probability the vastness of the natural universe can permit.

#63 Freedom First

Perhaps the introspection you ask of Julia could be turned on yourself, for example the suffering of others you highlight.

What do I mean ?

The God of Christianity and practically all other 100’s of religions preach an omnipotent God yet ,for example, approximately 5 million children die before the age of 5 every year, simply by fault of the circumstances they were born into, either wrong part of the world or abject poverty.

I would argue logically that this God of religion is

1- powerless to do anything about our suffering, in which case he is not worth worshipping.

2- of infinitely incredible evil that we humans could barely comprehend

3-does not exist.

I’m going with 3

#79 4 AM Sunrise on 06.11.14 at 9:19 pm

So after a few rounds of Bible roulette, Julia concludes that the only way to deal with this is to wait for God’s answer.

He already answered you, Julia, and that answer is: do not buy in this overpriced market, or your next post on the theme of disappointment will be about financial stress in the family that no round of Bible roulette will resolve. For all we know, your housed-up peers might be one paycheque away from insolvency. They’ll never talk about it, though.

You seem young. Have you ever felt the pain of debt? Or is bad debt, the kind of that we go ballistic over on this blog, an accepted part of your life? Are you a Millennial whose parents bailed you out when you got too deep in the red?

But yeah, you’ve got mommy-brain (it’s scientifically proven), and the nesting hormones are kicking in, and our cultural gets emotional about real estate, so you’re at where you’re at.

My Buddhist-ish Asian brain says that if you’ve been trying for a year without success, then it’s not meant to be. Some of God’s greatest gifts are unanswered prayers (thanks, Garth Brooks).

#80 Smoking Man on 06.11.14 at 9:19 pm

Philosophy driven by a 103 on the mercury tube.

The belief system is the cryptonight in our logic, once contaminated with beliefs we are sitting ducks, prey waiting to be
slain.

To make rational decisions based
on pure logic, proper measurement of risk vs reward.

One must understand that the best belief one can have is the believe that having a belief works against you.

#81 Randy Randerson on 06.11.14 at 9:28 pm

If Alastair also wants a house, fine, at least they’re interdependent. But if Alastair doesn’t want one and is the rational one in the marriage, then I pity him for living under the tyranny of his house-horny wife. And if he doesn’t follow Julia’s lead, I’ll bet the she’ll first withhold sex, and eventually threaten with divorce.

Yes, it does sound bad, but I’m just stating the obvious.

#82 HogtownIndebted on 06.11.14 at 9:31 pm

Sorry to break it to you, Julia.

There is no God.

This just in:

http://news.ca.msn.com/canada/ottawa-cra-employees-win-dollar327m-lottery-jackpot-1

#83 takla on 06.11.14 at 9:34 pm

IMF warns of multible housing bubbles,Australia,Britian and Canada ,add to that 105.00 gas a barrel and riseing.We have numerous growing geopolitical risk around the world ,a topping stock market,stalling U>S economy…what could go wrong with a highly leaveraged,inflated home purchase at this time….the uninformed can fill their boots!!

#84 weedeater on 06.11.14 at 9:37 pm

Julia should be relieved her god is keeping her from the danger of an overheated housing market and be mindful of the sins of lust, envy and greed.

To me a greater threat to virgin buyers is a policy of giving them cheap money guaranteed if they have no/little downpayment while people with equity or >20% pay much higher rates of interest. What does this say about the lending market? The banks have nothing to lose on penniless virgins: house values deflate 10-15% and reassessments at renewal time (which the virgin pays for) could cause defaults which cost the bank nothing (CMHC insured)

#85 Ret on 06.11.14 at 9:41 pm

#58 TTC rant
Ontario’s bus drivers, teachers, police and fire services need to do what they do best and it ain’t telling Ontarians how to vote in elections.

#86 Chaddywack on 06.11.14 at 9:52 pm

I rent, I’m safe :)

#87 Eatin' Bonbons on 06.11.14 at 9:55 pm

Oh man!
‘Angry, Sad, Scared’ … Gimme. A. Break. It’s. A. House.
(Must be a new thing to put a period after every word)

I honestly hope that Julia reads these comments and realizes how childish her whining sounds.
There are no doubt people in this country who are feeling angry, sad and scared… But you can bet that it isn’t because of not winning a bidding war.

Get a grip Julia, for crying out loud! There are people out there breathing their last breaths, preparing to leave behind children they will never see grow up, and you have the audacity to write something so completely selfish and vain. Shame on you. You deserve all the comments you get here; call it blog punishment for your blog confession.

#88 Laura on 06.11.14 at 9:57 pm

I’d never seen Julia’s blog before, but I just looked up the blog in question. in her defence, she’s pretty self-deprecating, and is talking about disappointment as a fact of life. She writes The only thing I can think to say to someone who is disappointed (including me) is, “Man, that sucks.” There is permission to be disappointed. There is space for the negative feelings. And there is recognition that there is no solution.

#89 Mark on 06.11.14 at 9:58 pm

“Its being considered to introduce a mandatory deductible for cmhc mortgages to reduce taxpayers burden.”

A good idea, but that horse left the barn a long, long time ago, and now nearly $1T is under CMHC subprime mortgage insurance which cannot be, short of crashing the Canadian banking system (and hence, economy), modified.

#90 Raj on 06.11.14 at 9:59 pm

This madness is not gonna stop any time soon Garth.
This madness is being promoted by central bankers all over the world.
Can you imagine ,Spain’s 10 year’s note is cheaper than that of US?
BTW,I’m a happy renter and will stay that way for foreseeable future!!

#91 Terry on 06.11.14 at 10:01 pm

We need to get Hudak elected to get started on the lay-offs and service cutbacks to get this Province back on the right track.

#92 Downgraded on 06.11.14 at 10:06 pm

JPMorgan downgraded Q1 US GDP to -1.6. Let’s hope it’s all the weather, or this market is the most wrong it’s been since 2007.

http://www.forexlive.com/blog/2014/06/11/jpmorgan-now-says-us-economy-shrank-1-6-in-q1/

#93 José on 06.11.14 at 10:16 pm

IMF sounds global housing alarm.

“In Canada, for example, house prices are 33 per cent above their long-run average in relation to incomes and 87 per cent above their long-run average compared with rents.”

http://www.cnbc.com/id/101752216

#94 Vote for what! on 06.11.14 at 10:21 pm

The fix is in …….. Hudak will win guaranteed !
Why? Because we dont vote in a government ,
We ( the sheeple ) vote them out . Decline your vote!
We had robocalls from Harper now Hudak and roboletters
We deserve better than this load of codswallop !
Its all bullcrap anyway. $260, 000, 000, 000 .00
Thats billion we owe give or take a few million.
Do you think they may be swayed by the bond holders of this debt?
Or will they pile some more on us like 100% mortgage offered by
MERIDIAN , yep saw that in Welland last week.

#95 randman on 06.11.14 at 10:21 pm

“Stupidity has a knack of getting it’s way”

Albert Camus

#96 Ontario's Left Coast on 06.11.14 at 10:24 pm

#71 Smoking Man

Omg I actually agree with Smoking Man!

#97 Spectacle on 06.11.14 at 10:25 pm

Yes, amazing wordsmith tonight Garth ! Thnx.

Re: #60 TurnerNation on 06.11.14 at 8:18 pm
Cover story for this month’s vapid, trashy Toronto Life mag: raising families in tiny downtown kandos, as they cannot afford houses. Dismal Soviet-era apartment blocks.

“Agenda 21″ much? They are turning us into the 2nd World. Only Party Elites and Faithful will have prosperity.

My reply: just received a monster brochure for the Vancouver House condo by Westbank, the Bjarke Ingles “twisted tower”. Looks like a series of soviet era concrete bunkers, but twisted as they stack! How neat……Uber prices for an uber bunker. Agenda-21 with a “twist” , in uber cool yaletown bunkers…….

On the same note, one degree of separation and just blocks away. Paul Dragon lying in hospital , lost 70% of his blood after being shot across the street from his Yaletown business in the morning, by a 61 year old ex employee.

A little perspective, Julie and Alastair, what you think you oh-so-need, is probably not. And that you counsel people for a living is frightening in itself.

I’m out, night all.

#98 TurnerNation on 06.11.14 at 10:25 pm

Bigarider you are confusing physical existance with something else. Our bodies will all get sick, hurt, and die. Guaranteed. To suggest Why doesn’t someone intervene and help us with this…well the solution is no human race at all. A physical body comes with its problems.
You want life forever? Sure. You can checkout anytime but you cannot leave. (Joke’s on us.)

#99 Vote for what! on 06.11.14 at 10:29 pm

Divide and conquer has been modious operandi of the powers that be since The Roman Empire , and we still fall for it today! Baaaaa baaaa.

#100 Inglorious Investor on 06.11.14 at 10:29 pm

#30 sheane wallace on 06.11.14 at 6:55 pm

“It is mind boggling how the rich could be so stupid, thinking that by impoverishing the middle class they are actually getting richer.”

It’s not about sharing the wealth. That was the struggle of the early 20th century. Now it’s about getting a larger share of a relatively shrinking pie. The situation will become increasingly confiscatory unless the economy really picks up steam.

If I remember correctly, the rate of wealth creation in the United States peaked about 40 years ago. Ever since then, because of the way our monetary, banking and economic systems work, we’ve had to keep pumping out the debt-currency, but the gap between the currency supply and real collateral to back it up has been expanding. And expanding. And expanding. That’s why as a society we are drowning in debt.

They talk about deleveraging, but it’s not really happening, because it can’t or the system crashes. All they can really do is attempt to continue to transfer existing wealth to governments and banks via inflation. Inflation is the answer to everything, or so they want us to think. Oh, and they will also hunt down every penny they can get.

#101 Happy Renting on 06.11.14 at 10:37 pm

Julia, if you really want that house, you can have it. After considering family loans, credit cards, RRSPs, and cash-back mortgages, figure out the very maximum you can spend on a house. Subtract $50-75k and look at houses whose comparables have recently sold for about that much. Then submit a bully bid for $50-75k higher than what market data suggests the house will be worth. You will win the house, it’s a move that many multiple-rejected-bids buyers have used to finally land a house. Under $1M (CMHC limit) in Vancouver, I guess you’re probably looking at a saggy semi in an up-and-coming neighbourhood.

My family looks a lot like yours (young couple, first child here, hopefully more in the future.) While a house would be nice, we are focussing on enjoying our baby, rather than being upset about the real estate market. They are only this young once, and our child is truly the greatest blessing imaginable from God. We do not need to own a house to be happy; we already have the greatest happiness possible.

#102 Happy Renting on 06.11.14 at 10:39 pm

#82 HogtownIndebted on 06.11.14 at 9:31 pm

You win funniest comment of the night! (I guess there are upcoming job openings at CRA? Millennials, get your hooks into the DB gold-plated fed pension NOW!)

#103 Lauren on 06.11.14 at 10:42 pm

This is the most disrespectful blog post I have ever read. These comments about Julia Sterne are completely irrelevant. Why do you think you have any reason to comment on how someone feels about a house hunt? If this is any reflection on our current political discourse, I am embarrassed to call myself a Canadian and a Vancouverite. How ridiculously you have a disclaimer about comments on your blog, I hope you heed your own advice in the future.

#104 Inglorious Investor on 06.11.14 at 10:45 pm

Unfortunately this election has come down to the private sector vs the public sector. According to Stats Can there are bout 6.8 million workers in Ontario, and over 1.3 million of them work in the public sector.

That means that about one in five workers works in the public sector. Put another way, it takes four private sector workers to support just the wages, benefits and pensions of one public sector worker in Ontario. And that does not cover all of the other costs of running government. IMO this ratio is ludicrous.

The public sector has gotten way to big. 100,000 would be just a start. I would bring the ratio down to about 1 in 10, though it would take many years to get there, and the balls to stand up to the unions.

As crazy as this may sound, what we need is Wall/Bay Streets to put an end to this bloated government insanity. If the politicians won’t listen to the people (other than the public sector unions) maybe they will be forced to listen to the bond rating agencies and the bond market.

And by the way. Anyone who thinks Wynne won’t be cutting the public sector if she hangs around long enough is delusional. At least Hudak laid it out on the table for all too see. I used to vote Liberal almost out of habit, but the Liberals have caused a world of hurt to this province.

Public sector workers need to always keep in mind that their jobs can only exist if we have a prosperous private sector paying their salaries.

#105 Disappointed on 06.11.14 at 10:53 pm

From an outsider’s standpoint, this article could have been way cooler had you not chosen to prey on an innocent woman. I went ahead and looked up the original post to see what this site is like, and I realized that, if we don’t know Julia and the way she speaks, maybe we shouldn’t be picking on her verbiage. In this day and age, shouldn’t we be HAPPY to see religious people being transparent and real, when all anyone ever complains about is hypocrisy, lies, etc. in the church? Perhaps it will always be under fire from people with their own agendas.

Loved the topic of this article. Poorly, poorly executed.

#106 randman on 06.11.14 at 11:03 pm

Lauren #104

“Why do you think you have any reason to comment on how someone feels about a house hunt?”

Because it’s a blog about houses…..duh!

#107 Sheane Wallace on 06.11.14 at 11:04 pm

Obama is forgiving student loans.

There is some hope after all, maybe they will forgive bad mortgages as well. These people who bought homes had good intentions and supported the economy. Not that they should be able to buy in first place but we need to learn to appreciate their sacrifice. No?

We also need to learn to make sacrifices to ensure profits of the banks as they do god’s work.

Savings? Ti is so retro and boring.
Until the music stops and currencies collapse.

#108 Joe2.0 on 06.11.14 at 11:05 pm

78- freerider

You forgot #4 – free will.
Man can help others or help himself.
Guess which ones more popular.

It’s convenient to rule out God, eases the conscience and takes care of 1-2&3.

#109 Sheane Wallace on 06.11.14 at 11:06 pm

#106 Disappointed

Caesar is very religious as well I heard but it does not stop him from scr..ng millions. Literally.

#110 Amanda on 06.11.14 at 11:06 pm

DELETED

#111 KommyKim on 06.11.14 at 11:06 pm

RE: #71 Smoking Man on 06.11.14 at 8:59 pm
We became too self-aware, nature created an aspect of nature separate from itself, we are creatures that should not exist by natural law.

Humans have accomplished exactly what every creature is on Earth is evolving towards: Complete and utter domination through shear numbers by out competing and out breeding everything else.

#112 Reforrrrrrrrrrm on 06.11.14 at 11:08 pm

Methinks the gubmint is the BANKS.
Polishituns just puppets.
Uz tax slaves on the hook.
Bye Kanada nice noin ya!

#113 Cowpoke on 06.11.14 at 11:08 pm

Every [incentive] will drive up activity and prices.

Only an [increase] in rates will curb the appetite.

#114 NotAGreaterFool on 06.11.14 at 11:11 pm

Re: Joe Oliver, can this guy think on his own?

http://www.cbc.ca/player/News/Business/Lang+%26+O%27Leary+Exchange/ID/2464256849/

Go to the 7 minute mark….classic!

#115 a friend on 06.11.14 at 11:11 pm

What does this article have to do with Julia (other than the fact that she, like A LOT of other folks are having trouble with the housing market)? You have slandered her and have been truly offensive. You really should be ashamed of yourself, especially since you are supposedly a representative of people in this country.
I know Julia personally, and you have wilfully misrepresented her, and from reading the comments, you have led many people to believe very wrong things about her. I’m disgusted with your rhetoric.

Actually, I let Julia speak for herself. — Garth

#116 Sheane Wallace on 06.11.14 at 11:11 pm

#100 Inglorious Investor

Agree,
But our misery was mostly triggered by outsourcing and the banks/the credit booms, this is why the pie is shrinking. 30 years ago everything was made in america. Yep, inflation is coming, brace for impact.

#117 Herf on 06.11.14 at 11:21 pm

#18, #47

“Prosperity gospel”.

Agreed. Either that or perhaps Julia has been deceived into only thinking she’s a Christian.

She mentions what the counselor, the mom, the rastafarian (?!) and her (self) will in her tell her, but what about Christ? What is He telling her? Why is she even referencing “the secret rastafarian” in her if she truly knows Jesus Christ?

As the apostle Paul stated:

2 Corinthians 13:5 5 (a)Test yourselves to see if you are in the faith; (b)examine yourselves! Or do you not recognize this about yourselves, that Jesus Christ is in you– unless indeed you (1c)fail the test?

The apostle John, said:

1 John 2:15-17 15 Do not love (a)the world nor the things in the world. (b)If anyone loves the world, the love of the Father is not in him. 16 For all that is in the world, (a)the lust of the flesh and b)the lust of the eyes and (c)the boastful pride of life, is not from the Father, but is from the world. 17 (a)The world is passing away, and also its lusts; but the one who (b)does the will of God lives forever.

Christ taught his disciples about worry and exhorted them to get their priorities straight:

Matthew 6:31-33 31 “Do not (a)worry then, saying, ‘What will we eat?’ or ‘What will we drink?’ or ‘What will we wear for clothing?’ 32 “For the Gentiles eagerly seek all these things; for (a)your heavenly Father knows that you need all these things. 33 “But (1)seek first (2)His kingdom and His righteousness, and (a)all these things will be 3)added to you.

(Scriptures from New American Standard Bible (1995))

#118 devore on 06.11.14 at 11:23 pm

I am angry that I did not get what I wanted

Get ready for a very angry life. What is it with kids today?

#119 Retired Boomer - WI on 06.11.14 at 11:26 pm

#106 Disappointed

The writer didn’t pray on an ‘innocent woman.’ He commented on a stupid woman, who has not got what she wanted -a house- for a year. Boo Hoo Hoo.

She prayed to her god, some pray to allah, some pray to their thunder mug. (look it up). Some gamble, some drink, some covet thy neighbor’s ass, or horse, and house.

Church? What church. I must have missed that… did you read about a church here?

Are churches tax exempt in Canada? Do they pay property taxes? There’s a source of revenue yet un-tapped

#120 Andrew Woburn on 06.11.14 at 11:27 pm

City struggles to keep up with permits as construction rises

“Nanaimo is experiencing an upswing in building permits and construction values, with more than double the planned investment for single-family homes than in the first five months of 2013. The increased activity has city officials scrambling to catch up on permit applications and warning of longer wait times.”

http://www.nanaimobulletin.com/news/262388141.html

Prices are moving up here. Why? I don’t know and I live here. Now I accept that Sasquatches, the Easter Bunny and HAM are all myths. Its just that I’m starting to see realtor bus stop advertising here in straight Chinese characters, no English. In Nanaimo!

Is it my lying, racist eyes or am I just dis-occidented?

#121 Andrew Woburn on 06.11.14 at 11:33 pm

Condo buildings dodge new disclosure rule

“Many condo buildings in B.C. are believed to be opting out of a provincial government directive to get a depreciation report that gives owners and prospective buyers a warts-and-all assessment of deficiencies and expected long-term expenses.

Industry insiders believe many strata councils voted by a required 75 per cent margin to exempt themselves from the requirement, which was passed by the province in 2011 and took effect last December.

Mike Laporte, a partner with property appraisal firm NLD Consulting-Reserve Fund Advisors, estimated just 20 to 25 per cent of condo buildings have commissioned depreciation reports.”

http://www.nanaimobulletin.com/business/262625261.html

#122 Happy Renting on 06.11.14 at 11:35 pm

#106 Disappointed on 06.11.14 at 10:53 pm

“prey on an innocent woman”? You are being dramatic.

Rule #1 of the internet: if you post something for all the world to see, don’t be surprised when people see it and have an opinion on it.

I applaud the blog dogs whose comments are intended to instruct, enlighten, or help Julia. What she’s been doing thus far hasn’t achieved her desired result, so an alternate opinion might direct her to try something different.

#123 The Patient on 06.11.14 at 11:40 pm

#16 Piano Man

“Wouldn’t tightening mortgage regulations at this point have the potential to cause a sharp housing correction? If so, why would Joe Oliver want to be seen as destroying wealth like that? ”

Well said. Hard place, meet rock.

#124 Professional Writing on 06.11.14 at 11:41 pm

Article makes a good point about the unreality of owning a home like we all are entitled to. Though I do believe that if you’re going to use someone’s despair about this situation, that they would be represented with respect. I know for many Vancouverites being assh0les come naturally as high real estate prices. But let’s be serious and stick to the point without the need of putting people down. Yes I do know Julia. I am not going to sprinkle God all over this, just a call to be professional, it’s a blog I know, but still a good article should be professional.

#125 Happity on 06.11.14 at 11:47 pm

If South Park did a comedy sketch on banks like this, you know the banks are done for:

“And it’s gone”

#126 rawdiswar on 06.12.14 at 12:09 am

How the heck are people defending this Julia broad? She typifies the type of hysteria that makes housing prices outrageous, and propagates the rampant materialism that is bringing us all down. Of course we should be lambasting her, as anyone who prays to a made up boogy-man for a house should be.

Good grief people.

#127 Roger_Home_Inspector on 06.12.14 at 12:10 am

So I have a question for everyone.

I inspected a home today that is technically a triplex. The agent selling the building had a “fact sheet” at the door for prospective buyers laying out why this home is such a great “investment property”. They created this sheet based on the scenario that of the $475,000 purchase price the buyer puts 20% down and paid a fixed mortgage amount per month. They then listed things like the basic utilities, insurance and taxes for the previous year. That really comprised the “costs” section. They then stated the current annual income and came out with an annual estimated income amount that I thought was pretty suspect.

Suspect because I feel they made some fairly significant omissions. First, they assumed the interest being paid indefinitely on the mortgage was 3%. Second, did you plan on doing any maintenance and upkeep on the property? What about vacancies which are inevitable? Or when a tenant trashes the place and moves out on a Sunday night after skipping two months rent? Or the dude in the basement starts a grow-op. Or a tenant falls down the stairs and breaks their neck and sues you? On that point, were you planning on paying for liability insurance? They didn’t speak of the fact that the natural gas bill would rise 50% year over year. What about the opportunity cost of the cash you put down? What if the value of the property goes down? I didn’t see any speak of any of these variables to truly test the feasibility of the “investment”. I think a bright 6th grader could have foreseen some of these variables and made suitable allowances.

It really seems to me that in this scenario a real estate agent has gone out of their way to offer investment advice, albeit terrible and incomplete.

So my question is this: Would it not seem to others that a real estate agent offering such superficial and poorly planned information has crossed the line from Realtor to financial adviser, and potentially is offering information to a perspective buyer that is incomplete, irresponsible and beyond their professional purview? Is there consequences for such actions?

Is there not federal licensing for persons in this country who offer financial advice? I’m guessing if so, this agent does not hold such accreditation.

I’d honestly want to know if a line has been crossed here and if such actions should be reported to a specific body. If so, who?

#128 Freedom First on 06.12.14 at 12:11 am

#71 Smoking Man

Go insane? Too late. Canadian debt levels alone prove that. And also, sadly, Smoking Man, you are saner than the Herd. What’s even sadder than that Smoking Man is the fact you are a fictitious character. We are so screwed.

#129 Joe calgary on 06.12.14 at 12:22 am

The system in this country is designed for weak losers that are not capable of putting together any money. The less you have to loose, the more debt you will want to take on, to buy things you don’t deserve. If these losers actually had $500000 in cash, they would know the value of the money and maybe think twice before spending it all on a 2 bedroom box in the sky. This system of losers disgusts me.

#130 Ivan on 06.12.14 at 12:39 am

I am truly disgusted with the unwarranted attack that is started by the blog post and continued by many commenters. I have no idea how you can claim that the blog and some of the supporting comments are not abusive, obscene, or disrespectful.

It is a shame because the underlying content regarding the house market is worth its place in a debate. The method employed to communicate the content resembles that of a school bully.

#131 Brele on 06.12.14 at 12:39 am

Wow, do you people have nothing better to do than to regress to teenage behaviours on the internet to cope
with your own frustration towards the over priced housing market and negative feelings toward Christians.
Way to exploit someone’s vulnerability.
Julia was honest and courageous with her frustrations. We adults talk about eradicating bullying from the school playgrounds and high school halls while at the same time turn around and do the very thing we seek
justice for. How’s that for some hypocrisy; let’s shame the Christian for what we think is hypocrisy while pretending like we are all perfect.
How about we all look at our own hearts and ask ourselves what it is that this displacement of anger is serving.
Julia, kudos to you for being so raw and beautifully honest. Your blog post was well done and and encouraging reminder; under no circumstances did you deserve any negative response such as this one!!!

#132 Shameful on 06.12.14 at 1:04 am

I agree with disappointed. This post is just awful. Garth, you try to make a point about the inflated Canadian market (a tired point that is well attested to), but to spice it up, mock this poor woman, who on a blog site processes her disappointment through the lens of her faith.

Garth, read through the comments, see how many are actually engaging with REAL topic, and how many are just mocking Julia’s grief, her faith, her husband etc.

I read all the comments, and londoner, Teacher ass-sistant, old man, randman, Takla, big rider, Dwilly, smoking man, randy randerman, ronaldo, crowded elevator fartz etc you mock a young brand new mother, who is simply gutted that she can’t afford a house. Your hateful comments expose your misogyny, intolerance and, because its all anonymous, your cowardice.

I would say ‘shame on you all’, but since your lack of character is exposed quite clearly here, shame is probably something you are all well acquainted with.

The church community of Julia has rallied impressively. You should see my email inbox. — Garth

#133 Lesley on 06.12.14 at 1:10 am

Why do you request comments on your blog to be respectful when you, yourself are disrespectful verging on abusive in your article?

#134 mousy on 06.12.14 at 1:16 am

The CFL has it right. The lady’s prayers were answered. Bidding wars are for people with too much money…and only even remotely ok when they are buying priceless one of a kind pieces of art…like a 1961 Vauxhaul station wagon with a manual choke and linkage that shakes like a cold cat.

#135 Turtle on 06.12.14 at 1:20 am

#102 Happy Renting

My family looks a lot like yours (young couple, first child here, hopefully more in the future.) While a house would be nice, we are focussing on enjoying our baby, rather than being upset about the real estate market. They are only this young once, and our child is truly the greatest blessing imaginable from God. We do not need to own a house to be happy; we already have the greatest happiness possible.

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

Great comment!

Chain reaction the way I see it:
1) Young family buying a house =>
2) Too much debt, kids can’t be born or kids are forgotten (no toys, no sports, no travel) =>
3) Too much pressure on marriage to carry on =>
4) Divorce.

Am I missing something?

#136 Smartalox on 06.12.14 at 1:33 am

If Julia really needs a home, she can probably afford to buy one in Chilliwack. She will probably get along great with her new neighbors, too.

#137 waiting on 06.12.14 at 1:41 am

Thought I’d give Julia a break and see who she really is. I couldn’t get past this video that centers around her and her husband coming to Vancouver from the U.S. to “plant a church”. According to the video “There is a faith crisis going on with our neighbors to the north in Canada – and a local couple is going to try & turn that around. Alastair & Julia Sterne will be traveling to Vancouver soon to plant a church. ” Ugghh
What is it about people who feel the need to “save” others? Forget HAM, now we have to deal with HHM (House Horney Missionaries) http://vimeo.com/34629295

#138 Thomas on 06.12.14 at 2:07 am

This is a real-estate blog post written (presumably) by a knowledgable man. The use of Julia’s blog post however should not be an invitation for mockery and mysoginistic comments about the house wanting habits of Canadian women. After taking the time to read her actual blog post, it turns out that she is just bein honest about how she feels. Her blog post was not a real estate advice post nor was it a “God wants to give this to me me me” post. My don’t usually post on this kind of thing, but some of the responses to this post irked me. Please, keep comments respectful, adult, and allow those of us actually interested in the topic of real-estate to enjoy the post and comments without intolerant slander.

#139 Benjamin on 06.12.14 at 2:32 am

I’m disappointed at the portrayal of Julia in this blog. The misogynistic comments seemed completely unnecessary and detracted from an otherwise relatively intelligent post on the real estate market.

I will remove anything misogynistic. What? — Garth

#140 Tony on 06.12.14 at 2:56 am

Re: #61 T.DOT on 06.11.14 at 8:24 pm

Obviously you’d want to take a variable rate mortgage as interest rates here turn negative to match Europe and save Canada from a pending recession.

#141 Freedom First on 06.12.14 at 3:02 am

Garth, your Blog today plus some of the comments really stirred up a hornets nest. Really really really pi$$$$ed off the house worshipers supporting Julia’s holy perspective on RE.

#142 Tony on 06.12.14 at 3:11 am

Re: #74 TacleTeple on 06.11.14 at 9:09 pm

Most quality corporate bonds would rise not fall. Junk bonds like Air Canada would plunge. Shorting Canadian junk bonds would make sense.

#143 Di on 06.12.14 at 3:11 am

Why such a hate on for Julia? She is writing an honest piece. I know I felt the same way when I was house shopping over 10 years ago. I would hate to be experiencing what she is experiencing now — my purchase price x4. How many of you have read her complete post before spouting off? I think we should appreciate her honesty and leave the judgment of others where it belongs … in the trash. Interestingly, I bet they will have more people attending their congregation this Sunday.

#144 Tony on 06.12.14 at 3:45 am

Re: #104 Lauren on 06.11.14 at 10:42 pm

Garth is trying to save Julia and her husband from being ruined financially. What’s wrong with that?

#145 Aggregator on 06.12.14 at 3:55 am

Foreign investors are driving up prices in Vancouver.

Reuters News, one of the world’s premiere service, says so!

Let’s put this non-issue to rest.

#146 Aggregator on 06.12.14 at 3:55 am

http://ca.reuters.com/article/domesticNews/idCAKBN0EM2DG20140611

#147 Buy? Curious? on 06.12.14 at 4:02 am

All religions should be banned and openly mocked! I don’t understand why we put up with these people.

As for housing prices in Toronto, I must admit, it’s freakingly stupid what crap houses are going for and honestly, you’d have to be really stupid to buy one now. But it’s just as crazy paying these rents.

Canada is in this Bizzaro world of housing. I’d hate to be trying to get into this market while renting. I’d be the laughing stock of my professional and social circles. All I know is that I got my house, it’s going up in value while I pay down my mortgage and losers aren’t invited to BBQ’s on my street.

Smoking Man, this fever you have has been going on for a while now. Is it malaria?

https://www.youtube.com/watch?v=GYseU8AsS98

#148 Andrew Marinelli on 06.12.14 at 5:01 am

Even if Julia is emotionally off-balance or mentally deficient, none of what you’ve spewed out against her adds the least bit of substance to your post.

I’ll add that I don’t know her, but I know people that do know her. I have no reason to think she is either of those things, which isn’t changed in the least by your post.

Mr. Turner, do you think that irrelevant personal attacks bolster your credibility?

What attack? She wrote those words. — Garth

#149 Hillbilly on 06.12.14 at 5:34 am

Randy Ryerson – comment # 82

We are uninformed as to the dynamics of their relationship. Maybe the husband wants a house as much or more than she does and is also an unstated reason for her despair.

The comments on their intimate life are uncalled for and frankly rude and vulgar.

#150 Linda Pearson on 06.12.14 at 5:43 am

#105 Inglorious Investor on 06.11.14 at 10:45 pm

I see where you’re going with your argument but also see that those same public-sector workers also pay your salary too. When they purchase goods and services that you provide through your employment or business, they contribute as much to your well being as you do to theirs.

Salaries paid to public-sector employees do not magically disappear from the economy; the money recirculates throughout every other sector, just like your income does.

#151 Hillbilly on 06.12.14 at 5:47 am

Retired Boomer WI – comment # 47

Funny and realistic.

#152 Hillbilly on 06.12.14 at 6:09 am

Linda Pearson – comment # 119

Can you possibly be that dull witted ?

The taxes and fees levied on the private sector in order to pay public sector employees directly affects the cost base of our products and services which affects competitiveness, which in turn affects our private sectors’ ability to create jobs.

It’s called “killing the golden goose that lays the eggs”.

Now, a public sector is needed to provide services and infrastructure so that the private sector can do its business, but a balance must be struck in order that the country can remain competitive and a reasonable quality of services/quality of life maintained.

Current taxation levels and the bloat of the civil service are out of whack.

You are trying to defend the forced redistribution of wealth

#153 Hillbilly on 06.12.14 at 6:12 am

Sorry, Linda Pearson rebuttal was for comment # 152

#154 Charles Ponzi on 06.12.14 at 6:28 am

Easy for a baby boomer to say,”Hey, Julia, it’s only a damn house!”

If only people were speculating on damn tulips!

Overpriced housing is no laughing matter. Julia should be [email protected]#$%ing mad at politicians and bankers. Funny isn’t it that the only thing that ever made Jesus angry enough to yell and flip tables were money changers.

The head of Goldman Sachs said he’s doing “God’s work” with his banking activities.

The head of Barclays also told his congregation that banking as practiced by his company was not antithetical to Christian principles.

Are they right? Is big banking as practiced by the giant banks in harmony with Christian principles?

http://www.wrecklessfaith.com/what-would-jesus-do-with-bankers/

#155 Halifax Observer on 06.12.14 at 6:31 am

No wonder god can’tget around to feeding millions of starving Africans. He’s too busy responding to first world cries for upgraded shelter.

#156 Charles Ponzi on 06.12.14 at 6:34 am

Time for Julia to join Jesus in cleansing the temple. Even Jesus hated bankers.

#157 Hillbilly on 06.12.14 at 6:41 am

Dear Julia,

You need to take a step back and consider what you are doing in a calm and rational manner.

Bad investment decisions are very often made when emotions are allowed to interfere.

Make no mistake, when contemplating any large purchase or use of your earning power, future earning powers or savings, you are indeed INVESTING, and in your family’s future !

Accordingly, you need to make a dispassionate assessment of the situation. You do not seem to be in that frame of mind and so need to achieve one. As a counselor, surely you must recognize that.

Do an objective analysis, on paper, citing pros and cons and the best estimates of what the REAL money costs are likely to be. If you can’t do it – find someone UNBIASED who can assist you two.

Mathematics can be a very sobering discipline when applied to such a situation as you find yourself in. Apply your energies to quiet contemplation and do not let your emotions sap your intellect.

I wish you well in this endeavour.

#158 BillyBob on 06.12.14 at 6:42 am

I have to go with the sentiment expressed that if you’re going to post your opinion on the internet, you might want to be aware that it is easily viewed by anyone, and leaves you open to whatever comments people want to make. Is this somehow a surprise?

Being “vulnerable” on an internet blog which can be viewed by the entire world isn’t “courageous” or particularly laudable, any more than guests on Oprah displaying their warts to the world is. Private things are just that – private. Share them with everyone without discernment and surely you cannot be surprised by the result. The internet is the not the place for the thin-skinned to spend time.

That said, I see no “attack” on this blogger by Mr. Turner. Only his comments on her own words, as they apply to the theme of this blog.

As someone who grew up surrounded by sincere, well-intended, strongly devout people, I hate to say this, but…the lack of rationality in both religion and real estate has some striking parallels. Sorry Julia, but today’s article is on point.

#159 Ray Skunk on 06.12.14 at 6:51 am

Wow, well this really exploded. Amazing the number of posters defending Julia and her wanton materialism. As a Christian surely she should be happy with her lot; she has a roof over her head, the means to afford it and a healthy family.

I couldn’t help but notice the monikers of those defending her are mostly unrecognizable; talk about drawing people out of the woodwork.

May I suggest if you don’t like this place, you close your browser and not return? You know, turn the other cheek?

Then again, I’ve never seen hypocrisy manifest itself in any better form than organized religion. Or, as I like to call it, absolute nonsense perpetuated for monetary gain.

#160 sheane wallace on 06.12.14 at 6:56 am

#104 Lauren

#161 sheane wallace on 06.12.14 at 6:58 am

#104 Lauren
So Julie deserves respect? Sure she does but she needs to grow as she is an adult, has kids and responsibility.

Not everything one wishes for would materialize and she definitely needs to learn her limits, it is not an offence but a lesson in maturity.

And she always can call Caesar, he is so religious.

#162 Sparky on 06.12.14 at 7:02 am

#152 Linda

I think what you may be missing is the fact that public workers salaries are just recirculated tax dollars where as private sector incomes are generated revenue, created as opposed to recycled. If the private sector was allowed to keep more of their income (lower taxes), that money would still be circulated through the economy, and perhaps more efficiently because the private sector creates value added jobs not make work projects.

#163 Tim Who'd Axe on 06.12.14 at 7:04 am

Good morning Voters :)’

Sharpen your pencils, polls open at 9.

I’ll be sharpening my axe. :)’

#164 Andrew Marinelli on 06.12.14 at 7:21 am

Please stop with the “I quoted her own words” type of justification. Yes, you quoted from her post, and that’s not the problem. The problem is that you, in your own words, attacked her intelligence (paragraph 1). You poked fun at her emotional state (“Yikes, remind me… etc.”) And what’s up with “house lusty?”

I’m an American. I know nothing whatsoever about the Canadian housing market. If it needs to be talked about, please do so. But why even bother bringing her into it? What purpose did that serve?

#165 bigrider on 06.12.14 at 7:24 am

#134 Shameful

Please re read my post and tell me at what point I attacked Julia in any way ? Perhaps you could use some reading comprehension courses.

I asked for some introspection on the God belief and for people to think logically about the lack of evidence thereof.

#109-JOE 2- Your comment does not dismiss 1 2 and 3. Your response does not deal with the logic I presented.

A child’s free will may have him playing on the street. It would be remiss of me and considered ‘evil’ if I did not remove him from the street. If a 2 year old fell into the deep end of the pool, starting to drown ,as I was sitting on the side and I did not pull him out, I would be considered incredibly evil yet your God does this everyday and it is called a “mystery” as to his actions.

The foolishness of supernatural beliefs, Gods of any kind and the lack of evidence needs to be exposed as such.

#166 Smoking Man on 06.12.14 at 7:28 am

The congregation of halleluiahs awakens, angry/upset by blog dog humor and logic.

As the decuples from church of fairy tails bands together and zero’s in on this little space reserved for malcontents, weirdo’s, whack jobs, and intellects, understand this.

You’re wasting your time, their is only one god in the universe, and it’s the one that stares back at you in the mirror. When it dies, you die. Your body becomes a worm feast. The revenge and justice promised by the believers will never happen.

However I do enjoy observing and being in the company of the truly insane. I should really make a point to make it out to church more often, increase my collection of book food topic.

#167 Ronald McRBC on 06.12.14 at 7:36 am

Helping newcomers get into their first home sooner
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Firm, fast credit approvals

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RBC is committed to working with your newcomer clients, recognizing their unique situation as newcomers and offering solutions as they navigate the journey to their new home.

#168 cto on 06.12.14 at 7:44 am

See???
This is what happens when governments assist an industry that plays itself to the public as “Selling Dreams”!
Government STAY OUT, AND LET THE INDUSTRY ASSIST ITSELF for a change.
Unless we participate in a war were vets return home and need their own roof, CMHC has long since outstripped its intended purpose.
CMHC no more!
CMHC no more!
CMHC no more!

#169 straight six on 06.12.14 at 7:50 am

#147 Aggregator
Foreign investors are driving up prices in Vancouver.
reuters said so.. huh?
So did I, in an age old art form called a poem, which was deleted.

#104 Lauren
re the new religion.. Stuff comes to those who spend!
and buy all means, keep on preying.. that’s what we’re doing.
regards, Joe & Steve

#170 long time reader on 06.12.14 at 7:51 am

Garth, best post ever. You are a deity when it comes to blog posts.

#171 Sean on 06.12.14 at 7:52 am

A few thoughts…

1) Intuitively, the solution lies more in reducing gov’t induced moral hazard, and less in trying to manipulate free markets… therefore, phase out of CMHC ranks much higher than trying to control interest rates.

2) Regarding Julia… jesus (no pun intended), it’s almost like our good citizens have no financial education at all.. i mean it’s almost as though our school system avoids the subject entirely… it’s almost as though the gov’t is OK with mindless boobs (no double entendre intended) as citizens

3) And finally, with Joe Owe saying there’s nothing to worry about, no problem… it’s like the gov’t has decided to play chicken with its citizens. There is no political gain from pulling away the punchbowl, so instead they will enable us to hit the brick wall even sooner, and faster… at least they can say it wasn’t their fault.

#172 jess on 06.12.14 at 7:59 am

lagging indicators
Is it time to incentivize integrity programs?
Are private sector profits a gauge of their efficiency?

http://www.cbc.ca/news/politics/political-fixer-jean-yves-lortie-reveals-his-mulroney-era-dealings-1.2649981

The Dark Money Machine That Beat Eric Cantor
By The Daily Take Team, The Thom Hartmann Program | Op-Ed
http://www.truth-out.org/opinion/item/24300-the-dark-money-machine-that-beat-eric-cantor
——
From :Health insurers have their way with regulators
Billions in Medicare Advantage overcharges likely gone for good.
http://truth-out.org/buzzflash/buzzflash-headlines

“gaming” the system “risk scores”…Health plans collect medical data that is used to compute the health risks for each patient enrolled, but there’s been little to deter plans from jacking up the resulting “risk scores.” When risk scores overstate a patient’s illness, the plans make more money from Medicare. ”

“upcoding” — overstating how sick their patients were­ — or failing to document that patients actually had diseases the plans were paid to treat, according to CMS. Overall, Medicare paid the health plans about $135 billion in 2013 alone.”

CMS officials declined a Center for Public Integrity request to make its audits public or discuss the process. Last month the Center sued in an effort to obtain those audits.
http://www.publicintegrity.org/2014/06/09/14857/health-insurers-have-their-way-regulators?utm_source=et&utm_medium=email&utm_campaign=dailynewsletter

#173 Mr. Frugal on 06.12.14 at 8:00 am

We bought in 1993 when the mortgage rates were 9.5% and houses were “relatively” cheap. There were no line-ups or bidding wars. There were plenty of power of sale houses. You could take your time and you could negotiate!

The only thing to do now is WAIT. Wait for the fall and buy when there is blood in the street. It will come. Patience is it’s own reward. But, when it comes to investing, patience is always rewarded.

Remember the drop in REITs last year. Or what about the Potash cliff. A few months ago they were giving away Apple stock! Remember what happened to Air Canada only couple of months ago. Anyone of these would have brought you big returns provided you were willing to stick out your neck and wait for the tide to turn.

#174 maxx on 06.12.14 at 8:05 am

This economic juggernaut ignited after years of gradually dropping interest rates, especially around the early-mid 2000’s. Today, we have complete idiots, hands aloft, imploring the heavens for a house, whilst stamping their little feet and getting depressed. The stuff of comic strips.

Flippers and investors often have many properties and many more have none.

We now have: give-away mortgage rates; tragically cheap consumer credit; an avalanche of consumer credit “product”; massive debt levels; non-stop payday loan and debt counseling ads on TV and in msm; a proliferation of jar lady programs and money advice episodes on TV and the second-hand and charity shops are full of bargain hunters. To the detriment of retail, of course.

Legions are addicted to spending and this is a rapidly increasing social problem.

Well done leaders! Well done! As with so many lowly employees, you also should be subject to performance assessment. Every single year. Your pension and benefits ought to be dependent on test results. No exception.

This enduring plan continues to encourage Canadians to gorge on debt through low rates and in doing so, punishes savers, the elderly and the young whilst pushing re prices into the stratosphere.

Anyone believing that they are economically “safe” may well be in for a shock. The loss of a job is almost always a shock and today’s debt levels make that eventuality likely unmanageable.

We now have a very “laissez faire” type at the helm and this enormous problem will only get worse and take far longer to resolve.

The U.S. and other countries are now reversing this problematic course and Canada is ignoring this as tptb are completely and utterly addicted to the revenue emanating from re caused by unsustainable low rates. Other countries have wisely acted on the danger that these low rates and resulting debt and deficit pose.

Exports? Pffffft! Are they looking to give Canada away?

We are not a well diversified economy, far from it. We do not compare to the U.S.

We have the largest and most dangerous fiscal mess in history and the solution seems to be higher taxes and fees as well as austerity for all except those who created and are “managing” the mess on a 4-year time horizon.

Welcome to the fiscal Wild West.

#175 Thou shalt not buy a house in this over valued market Thou shalt not buy a house in this over valued market on 06.12.14 at 8:12 am

Thou shalt not buy a house in this over valued market
Thou shalt not buy a house in this over valued market
Thou shalt not buy a house in this over valued market
Thou shalt not buy a house in this over valued market

HA HA HA HA !!!!
BEST ever !
way to go cat lady ! lately coments are getting Sooo good almost as Garths writting !

#176 Grantmi on 06.12.14 at 8:24 am

Yup.. Just like they got all those scumbag crook bank CEO’s that caused the GFC in 07-09 in the first place.

They sure told them…..

As far as the foreign country part goes I’ll just say that I trust that the American market is far better regulated and policed than the Canadian market. It is no coincidence that Conrad Black was nailed there and not here

#177 Hillbilly on 06.12.14 at 8:27 am

Sparky – comment # 164

Your comment was succinct and probably was what I should have written.

I suspect, however, that both our postings are futile in view of the glaring ignorance that “she” displays in her comment # 152.

This is an example of the lack of critical thinking that has contributed to this ” housing at any price” mania that has gripped the nation.

Easy credit + dumb people = malinvestment.

#178 Porsche on 06.12.14 at 8:38 am

Wafting money this cheap into the hyperventilated real estate market is like passing out crack at Toronto City Hall. How do you possibly expect people to do anything otherwise than freebase their way to excess? With the inflation rate sitting at 2% and bags of mortgage dough available at barely half a point more, isn’t this like free money?
……………………………………………………………………….

Yup and if you haven’t figured out in 6 years that the crack is damn good and constantly getting better, oh well.

Quit being an idiot and learn how to freebase!!

LOL

#179 Jonathan on 06.12.14 at 8:45 am

#139 waiting

Thanks for posting that vimeo.

How odd, that they describe Vancouver as being “without faith”.

Isn’t there, actually, a truly transcendental faith in the power of real estate to go up forever?

And decrying that only “3%” of the population there are believers masks some unstated racism and cultural superiority complex in my opinion. Have they realized how diverse Vancouver’s population is? Not a lot of those folks and their ancestors grew up as Christians. How would we feel if the same statements came from someone promoting Islam?

It’s a little tiring to see how modern day Christian evangelism seems to prey upon immigrant and second/third world immigrants and populations. Everyone else has wised up, it seems.

Sorry, Julia and your supporters here.

You are no victim.

#180 Stickler on 06.12.14 at 9:04 am

A bible loving Christian, who also describes herself as a “secret rastafarian” is devastated because she can’t buy the house she wants.

She sounds confused.

Buy bank stocks. The taxpayer is assuming the bulk of the risk (via CMHC).

Unless that changes chive on.

#181 Chris L. on 06.12.14 at 9:08 am

Alive and well: Criticism of women is misogyny.

Get over it people, if women do stupid, they get called stupid and there’s nothing misogynistic about that.

Celebrate equality with equal responsibility and equal criticism. You guys are keeping women as victims. I’m pretty sure they can answer for themselves and don’t need you to swoop in to protect them. You know all they’re gonna do is blame you for saving them – Patriarchy!

#182 crowdedelevatorfartz on 06.12.14 at 9:15 am

@#104 Lauren
“This is the most disrespectful blog post I have ever read. These comments about Julia Sterne are completely irrelevant….”
++++++++++++++++++++++++++++++++++++
Hmmm, methinks Hell hath no fury like a Christian mocked…….

#183 crowdedelevatorfartz on 06.12.14 at 9:18 am

@#116 a friend
“I know Julia personally, and you have wilfully misrepresented her, and from reading the comments, you have led many people to believe very wrong things about her. I’m disgusted with your rhetoric….”
+++++++++++++++++++++++++++++++++++

Ahhhh, sorry “friend”. But Garths blog on Julia was accurate. Please view her link. Its verbatim.

Go back to church and prey( or is that pray) for us.

#184 Stickler on 06.12.14 at 9:21 am

@ #104 Lauren on 06.11.14 at 10:42 pm

This is the most disrespectful blog post I have ever read. These comments about Julia Sterne are completely irrelevant. Why do you think you have any reason to comment on how someone feels about a house hunt?

——————————–

– The Christian in me agrees with everything you say.

-The secret Rastafarian in me say “ya dont need na house mon”

– My whole wheat side says i’m good for you

– my frosted side says I taste great!

#185 crowdedelevatorfartz on 06.12.14 at 9:22 am

@#132,133,134 and 135

Wow! The congregation is pulling out all the stops.

Put your hands together and pray for Julias’ sin of ENVY. She needs your help.

#186 frank le skank on 06.12.14 at 9:24 am

Julia has obviously bought into the idea that owning a house means stability, success and happiness. Her sadness is misplaced and she is a victim of the endless marketing campaigns pumping real estate. She probably feels that if they can’t buy now, they will never be able to buy. No doubt she’s watched the RBC commercial where the wife ends up crying in disappointment. Religion does not look favorably on materialistic urges. This story shows that the influence of marketing can be greater than the influence of religion.

#187 Berniebee on 06.12.14 at 9:29 am

What does Julia mean when she uses the word “want”? In present day, only in a legal or religious context could the word “want” be intended to mean “need”.

From her first paragraph: “We have never been in want, but we are now in a season of wanting…” .
Almost biblical sounding, isn’t it?

On the other hand, Julia later says : “I am angry that I did not get what I wanted…” .
Sounds more like a petulant child.

And a child Julia is. She needs to grow up in terms of equating wants with needs. In a few years, she will look back on her blog post with two emotions: Cringing embarrassment over house ownership lust versus a safe roof over your head, and hopefully, relief that their finances are not in shambles like their property owning friends.

#188 Ralph Cramdown on 06.12.14 at 9:31 am

#76 Dominoes Lining Up — “CBC news reporting that the Iraqi militants are worse than al Qaeda, and have captured lots of American weapons and aircraft, heading to Baghdad. Who would have predicted this weeks ago? […] Precious metals will be on my buy list big time.”

Are you a new goldbug? Because according to goldbugs, the shit is hitting the fan, every day. Check their websites, click on the archives and pick any day. I guarantee you that on that day, the shit was hitting the fan, and they were describing how.

So unless you’re a brand-new goldbug, you’re already all in.

Back in the real world, I’ll keep collecting my dividends, and buying opportunistically. Were you a buyer yesterday? I bought one stock yesterday and spent about six times as much as I paid for my current car. My buy order was completed with six different fills, five of them 100 share small-time weak hands. Keep reading those websites, the rest of us are buying the world while you wring your hands and gnash your teeth.

#189 Bubblicious on 06.12.14 at 9:35 am

Extra, extra this just in.
House prices going uppa, uppa, uppa in 416.
No slowdown until 2018.
http://business.financialpost.com/2014/06/12/why-canadas-housing-boom-could-be-in-for-a-big-echo/

#190 Inglorious Investor on 06.12.14 at 9:35 am

#152 Linda Pearson on 06.12.14 at 5:43 am

“I see where you’re going with your argument but also see that those same public-sector workers also pay your salary too. When they purchase goods and services that you provide through your employment or business, they contribute as much to your well being as you do to theirs. Salaries paid to public-sector employees do not magically disappear from the economy; the money recirculates throughout every other sector, just like your income does.”

Sorry, but on a net basis public sector workers do not contribute to the well-being of private sector workers, or the economy. Society does not need a public sector to support private sector jobs. We simply need employed people who are contributing to our society’s productivity. The key is productivity.

Public sector workers are a net drain on the economy, not a net contributor to it. Every tax dollar that flows to government is one dollar less that can be spent, saved for retirement, or invested in real productivity and innovation. Yes, a public sector worker does spend and invest in the economy, but they take more out in the form of taxes. If that were not the case, then why not just pay people a million dollars per year to dig holes and then cover them up again. Those people will go out and spend their generous wages in the economy. Problem is, there ‘work’ is not actually adding any value to the economy, it is a net cost.

In economics there is a concept called the “broken window fallacy” which says a broken window is good for the economy because the owner has to pay a company to replace and install a new window. This money flows into the economy and creates jobs. However, what is often missed is that the money spent to replace an item that already existed is being diverted from potentially creating actual new wealth. Yes, the broken window is good for the people in the window business, but it was a net drain on the economy, and on the owner’s pocket book.

Now, we do need a public sector, so we must be willing to pay some amount for the services needed by government (and there are some things government can do to help the economy, such as R&D whose costs are not feasible for private companies, infrastructure, etc.) But most of what government does is more of a cost to the economy, not a driver of it.

Therefore, it makes sense to keep government small, efficient, and well run. Arguably, today it is none of these.

IMO the biggest problem today is the public sector unions. They have simply garnered too much political clout. And if they keep getting their way, these unions will eventually destroy the public sector not help it.

#191 Tim Who'd Axe on 06.12.14 at 9:42 am

Greetings Ontarians :)’

Polls are now open across this beautiful Blue province.

You have from 9 a.m. until 9 p.m. to vote.

By my math, that is

12 hours X Ontario PC Factor 8 = 96 hours to vote.

No excuses people, 96 hours to vote is a long time!!

But wait, there’s more :)’

Multiply 96 X the 100,000 jobs I will cut, and you get 9,600,000 jobs.

(And they say I can’t create a measly 1,000,000 jobs. What idiots.)

Remember who is the only leader who has been honest with you. :)’

#192 Realtor # 1 GTA on 06.12.14 at 9:42 am

I’ve been saying for months now

This market is driven by Lenders

#193 Hoist on her own petard on 06.12.14 at 9:46 am

The person Julie who posted her plight is really the author of her own misfortune. Why go into a depression over something that is materially impossible to attain? Is it not delusional to think that just because I want something that I should be entitled to have it? The people who sell things rely on this type of delusional thinking to get the deluded to discard and shut down our ability to think rationally and analytically. Work the numbers and see what they say. Be rational or risk being destroyed. Put aside this sense of entitlement or be consumed by the consequences.

In the case of the loony young man who decided to shoot people at random in California because he felt excluded and shunned by women, he too felt entitled to having what he felt he really needed: female companionship. Where did this fixation get him? What did it do for the people he killed? At the very least, society at large perceives him as insane, criminally so, and when he popped his cork, people died. But we should not delude ourselves in thinking that many of us do not walk that same path, and although most of us are not likely to kill people, at least a few people will get hurt.

For what it is worth, in my own quiet little corner of Toronto, my wife and I have seen three young couples divorce in the last few years (and lose the houses they had bought). The reason for all of these failed marriages was a lack of money to pay for what they had taken on in the form of mortgages and other financial commitments. One or both lost jobs, or could not launch careers after years of graduate work, or just simply overspent.

They fought about money they did not have and they lost their marriages. Each couple had young children. None of them were bad people; they just fell by the wayside. Each couple at some earlier point had decided that it was worth assuming their financial burdens so that they could have what either one or both of them wanted. No one should take Garth Turner to task for simply holding up a mirror to show us the lunacy of what passes for acceptable behaviour these days.

#194 Daisy Mae on 06.12.14 at 9:50 am

#63 Freedom First: “Julia, have you forgotten the billion people in the world who are malnourished, hungry, even starving to death? All of the people who are really suffering from many different extremely horrific problems?”

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

Excellent response.

#195 Solitario on 06.12.14 at 9:56 am

I’ve identified Julia’s problem in the fact she was praying to the wrong God.
The Flying Spaghetti Monster is the one and only God.

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

Would Julia start praying to Him, I’m sure her wishes will all come true.
We pastafarians are ready to welcome Julia in our church.

#196 Buy? Curious? on 06.12.14 at 10:00 am

Hey Hillbilly! Great rebuttals. Stupid and directed towards the wrong person. What do you do for an encore? Puke on yourself and blame the value meal at Taco Bell?

#197 Cee on 06.12.14 at 10:02 am

Hasn’t anyone ever been disappointed before, maybe even by something they shouldn’t have been that disappointed by?

I don’t know about you, but when it happens to me I feel even worse knowing I shouldn’t be. I think it took a great deal of courage for Julia to blog about her (repeated, might I add,) DIScouragement. We could all make living in this high-priced city a little more wonderful by showing our fellow Vancouverites kindness and compassion, ESPECIALLY when they’re down, and regardless of whether or not you agree with their religious convictions.

I don’t think contributing to publicly mocking and judging people is at all helpful.

Cyber bullying for adults. Shame.

#198 Tim Hudak's Math Tutor on 06.12.14 at 10:14 am

#184 Tim Who’d Axe

Psssst!! Tim! Psssst!!

I’m over to your left, hanging out with the scrutineers.

Can we talk?

Quick!

#199 Daisy Mae on 06.12.14 at 10:19 am

#116 A friend: “You have slandered her…”

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

Look up ‘slander’ in the dictionary. Garth quoted her comments verbatim. That is NOT ‘slander’.

#200 Doug in London on 06.12.14 at 10:22 am

He (Oliver, not the divinity) has just made it clear once more than housing prices can continue to inflate, thanks to the banks’ race to the bottom, and he’ll stand by.
—————————————————————–
So, the cost of housing in Canada will remain high in the foreseeable future and contribute to the high cost of business here. Expect more jobs to migrate to the United States or elsewhere. I’m not going to tell you who to vote for, but keep in mind that in this kind of environment Tim Hudak’s one million jobs will never materialize. Other than that, get out and vote!

#201 Overseas Canuck on 06.12.14 at 10:24 am

Isn’t it about time that someone (the OECD? Moodys?) started publishing sovereign debt figures that include liabilities for bailing out lenders, such as what the CMHC’s racked up with its massive taxpayer-guaranteed debt?

I bet Spain’s less indebted than Canada as a % of GDP if you added this potential liability in. It might be an eye-opener for the bond markets, as well as for taxpayers who would finally be able to see what a mess they and their governments have created.

#202 Holy Crap Wheres The Tylenol on 06.12.14 at 10:26 am

#181 Jonathan on 06.12.14 at 8:45 am

______________________________________________

I’m tired of the Faith Knockers. Everyone has their own beliefs and religions. Live and let live! I don’t have to live in the footsteps of the non-belivers or the true faithful belivers. This is a free country and I have a choice! Every time I hear the bashing of a Christian fundimentalist I have to stop and ask why is this so fashionable when neery I hear a chrip about some Isalmic church setting up their local mosque and driving home their own agenda. Saw this at Younge and Dundass on the weekend, three Muslum dudes set up with a chair, table and sign, spreading the word to everyone and proclaiming Alah is the only God. Pretty voacl about it too. If these guys where radical Christians the press would be all over them. I dont care if Julia is from Planet Smoking Man, so what. As for feeding the masses all religions are supposed to help their fellow man or woman. So when it comes to blaming one religion you have to look at the major reliogions of these poor countries and ask why are they not helping their fellow countrymen.
Live and let live…………….
To be tolerant; to enjoy the pleasures and opportunities which life offers and to allow others to do the same.
Amen! or Holy Crap!

#203 RVP on 06.12.14 at 10:28 am

@Spectacle #97:

“On the same note, one degree of separation and just blocks away. Paul Dragon lying in hospital , lost 70% of his blood after being shot across the street from his Yaletown business in the morning, by a 61 year old ex employee. ”

It has been reported that Paul Dragan was shot in Yaletown right next to the picturesque Sea Wall by his former tenant whom he had evicted from a Vancouver rental. It sounds like a Vancouver renter was upset about being priced out forever and finally snapped (in no way do I mean to justify what he did).

Another Vancouver oddity in the story is that the shooter fled the scene on his bicycle peddling down the Sea Wall. So it was a drive-by shooting by bicycle. Only in Vancouver.

#204 Holy Crap Wheres The Tylenol on 06.12.14 at 10:30 am

Voting day………………………..

Which way are we going?
Left?
Right?
Straight?
Same old same, most likely!!!!!
Down the crapper, very likely!!!!!!!!!

Probably most people are so dam apathetic that they wont even vote!
Good luck Ontario.
Tune in to the same Bat Channel, Same Bat Time later tonight, details at 11:00.

#205 Inglorious Investor on 06.12.14 at 10:30 am

#117 Sheane Wallace on 06.11.14 at 11:11 pm

“But our misery was mostly triggered by outsourcing and the banks/the credit booms, this is why the pie is shrinking.”

I don’t mean to suggest the ‘pie’ is actually shrinking in actual terms. As I said, it is shrinking in RELATIVE terms. Meaning that, while wealth IS growing it is now being shared amongst a larger number of people. A smaller piece for everyone.

I disagree with the way that globalization was handled over these last 30 years or so because it has been very disruptive and I don’t think it needed to be quite so disruptive.

But globalization is a fact of life. We Westerners will have to get inured to the reality that we can no longer take for ourselves the bulk of the world’s wealth. There are billions of other people who want their share. This is largely what is driving up costs even while wages stagnate (but funny money via QE sure only makes it much worse).

It is the relative decline of the West that has driven the crooked wealth transfers that governments and central banks are engineering via inflation. Government is desperate to meet it’s obligations to itself. And the banks are desperate to not collapse due to a drop in debt values. These people are getting desperate. Yet Draghi has the gall to say he does not want to hurt savers with NIRP. He knows damn well he is destroying savers and Europe as well, just to save the banks, and their dream of a unified European oligarchy to counter the powers of the Anglo-Americans.

#206 Sinful Man on 06.12.14 at 10:34 am

#47 Retired Boomer, ““There is a time to buy, and a time to refrain from buying,” to paraphrase Ecceliastes.

Retired Boomer is correct to quote the Bible as God will not be mocked.

Most of us still recognize the ancient words:

“… You shall have no other gods before Me. You shall not make for yourself an idol, or any likeness of what is in heaven above or on the earth beneath or in the water under the earth. You shall not worship them or serve them; for I, the LORD your God, am a jealous God, …”.

As a society, we have fully embraced consumerism, casting our modern idols out of cars, houses and vacations etc.

However, the last suit you wear will have no pockets.

And we will all eventually give an accounting of our spending.

Woe to those who ignore the poor while spending lavishly on themselves. It’s ok to be rich (as Abraham was for example) as long as one is also rich to the poor and as long as one does not worship their riches.

“For no one can serve two masters. Either you will hate the one and love the other, or you will be devoted to the one and despise the other. You cannot serve both God and money.”

#207 Holy Crap Wheres The Tylenol on 06.12.14 at 10:38 am

#192 Inglorious Investor on 06.12.14 at 9:35 am

100% Agreed,

If the Government was in the private sector the entire entity would collapse within one year. Way too much pandering, union sex, and wasted public money.

#208 2CntsCdn on 06.12.14 at 10:39 am

2.97%, 2.79%, 2.6% …. who cares? Get the suckers (I mean valued customers) hooked. It’s a race for the banks to lock in victims (I mean customers) and get their name on as many of those risk free CMHC backed loan dollars as possible ….. before the $600B cap is hit or the government comes to their senses and stops this lunacy (which ever comes first).

#209 april on 06.12.14 at 10:47 am

Christine Lagarde, head of the IMF, said Canada is trying to move away from our consumer/housing economy and move to increasing exports or something to that effect.

#210 2CntsCdn on 06.12.14 at 10:52 am

Jeeeezuz! … now you got the whole religious thing fired up. This is about the economics and real estate. Religion hath no plaith in busineth (maybe if you’re Jim and Tammy Faye Bakker … or Jim Jones …. but that’s another story).

#211 Rational Optimist on 06.12.14 at 10:55 am

166 Andrew Marinelli on 06.12.14 at 7:21 am

“If it [the housing market] needs to be talked about, please do so. But why even bother bringing her into it? What purpose did that serve?”

The housing market is composed of human participants. To understand the market, you need to understand the behaviour of its participants, and their motivations and feelings.

The fact is that many Canadians are not approaching real estate in a rational way. We were provided an example of one who thinks that home ownership is a non-negotiable part of a fulfilled life, and is presumably willing to pay accordingly. Of course that speaks to why real estate is doing what it is in Canada, and what it might do in the future.

What’s the trouble, exactly?

#212 Bob on 06.12.14 at 11:01 am

Julia’s post has a tremendous amount of emotion in it. Since buying a house is usually the biggest purchase one will make in a lifetime I can’t help but feel this should not be an emotional decision. One grounded in reason and math would be much more appropriate approach to such a massive decision.

Reading her blog post I can’t help but think of the RBC ad featured on this blog http://www.youtube.com/watch?v=6BN_viz2oFI

#213 Shawn on 06.12.14 at 11:02 am

Government Worker Bashing

Inglorious Investor at 152 says:

Sorry, but on a net basis public sector workers do not contribute to the well-being of private sector workers, or the economy. Society does not need a public sector to support private sector jobs. We simply need employed people who are contributing to our society’s productivity. The key is productivity.

*******************************************
You make valid points that the public sector may be too large and over-paid.

But to suggest that all government workers are a drain is simply wrong.

The economy is inter-connnected. Commerce cannot exist without the rule of law and enforcement of contracts and property rights (that is government). A certain amount of regulation is vital (government). Cetain shared expenses seem best managed by government (defense, immigration policies)

When government hires a police officer they pay (or should pay) the going market rate for that. The government finds it valuable to pay the full cost of that. The officer then pays taxes like anyone else.

Your position is simply wrong and seems offensive particularly given the recent tragedy in Moncton.

Few of us would be worth a tenth of what we are paid without the benefits of the economy as a whole. Division of labour. Vast interconnected systems. Accumulated investments in productive factories, machinery and knowledge.

We stand on the shoulders of past generations.

Individually few of us matter to the economy as a whole. The economy would miss very few of us if we were gone tomorrow, be we private or government.

#214 Inglorious Investor on 06.12.14 at 11:10 am

#208 Sinful Man on 06.12.14 at 10:34 am

‘Most of us still recognize the ancient words: ‘… You shall have no other gods before Me. […] for I, the LORD your God, am a jealous God, …'”

I have read a great deal of the Bible (maybe 70%––what a slog some of it can be). My interpretation of the Old Testament God is that Yahweh was originally the deity of Abraham’s family, not the God of the Hebrew peoples. Semitic peoples had many gods in their early history. Yahweh was imposed onto them, sometimes with violence, via Abraham, Moses and Aaron because as the high priests of the Israelites, Yahweh was their source of power, that which legitimized their positions.

If you compare the God, or Abba, of the New Testament to the old, jealous, vengeful, spiteful Yahweh, clearly they are not the same deity, unless you are willing to accept the notion that God can change, or grow up, so to speak.

The Israelites gave us a war god who might kill you for transgressing him (Yahweh, by the way, did not refute the existence of other gods, He just prohibited their worship by the Israelties).

Jesus gave us a loving, merciful God, with infinite patience and forgiveness. No burning bushes, no brimstone and hellfire. Just love your God and love you neighbour. The man was a genius.

#215 4 AM Sunrise on 06.12.14 at 11:14 am

#204 Holy Crap Wheres The Tylenol on 06.12.14 at 10:26 am

It pisses me off every time I see Muslims shilling on the street. I’ve read the Qur’an back to back and there’s a prohibition on proselytizing. You’re supposed to go to Islam by yourself; not the other way around.

#216 broadway skytrain on 06.12.14 at 11:15 am

“You cannot serve both God and money”
————————————————
why serve either?

i served a mean stuffed portobello mushroom last night, and my tennis serve, while very powerful, is lacking is consistency . outside of those , i try to serve nothing but the cause of good. screw god, he cares not about abused children.

#217 Gregor Samsa on 06.12.14 at 11:23 am

Harper can’t have the housing bubble deflate prior to the 2015 election. So the marching orders have been given and Joe is complying like a good seal.

Garth, prepare to be writing these articles for at least another 16 months, as Harper and Joe will be doing absolutely anything they can to keep the debt party going.

Once it turns they will be as powerless to alter events as was Obama. — Garth

#218 randman on 06.12.14 at 11:31 am

Denninger on Real estate in the US

Lately there has been much lament from various corners about how “household formation” is not recovering and neither is home-buying, as if there is some sort of grand idea that one should get into real estate because it’s “hated.”

Uh, folks….. there are two possible paths here — pick one.

The economy recovers strongly — faster than anyone really expects. Then The Fed will raise interest rates faster than anyone expects. This will force up the cost of money. How much does this matter? Here’s the math: A $200,000 house financed at 4.04% (today’s quoted rate) for 30 years, assuming nothing on the table (that is you’re financing $200,000) has a P&I of $956.23. If rates go to 6% (up 2%) then the same payment finances $160,288.46, a reduction of nearly $40,000 in the amount financed. Unless salaries rise by 20% the value of the house is going to fall by that same 20% — period.

The economy does not recover. Ok, then who’s going to buy the house?
Right now The Fed is running emergency level interest rates. Either there is about to be another emergency, in which case employment (and wages) are about to go down the toilet or they are not.

If there is no emergency then the value of the house is going to fall — strongly.

If there is an emergency who is going to buy — at any price?

Answer those questions before you get involved in this nonsense, because believing what these folks are selling is in effect betting that the sun will not rise in the east tomorrow.

http://market-ticker.org/akcs-www?post=229090

#219 april on 06.12.14 at 11:31 am

#191- – I see it as all Marketing garbage coming from the RE cartel
http://vreaa.wordpress.com/By the same Robert Kavcic bank of Montreal economist -2013

#220 randman on 06.12.14 at 11:32 am

You play tennis with a stuffed mushroom?

:)

#221 Inglorious Investor on 06.12.14 at 11:33 am

#214 Shawn on 06.12.14 at 11:02 am

“You make valid points that the public sector may be too large and over-paid.”

Yes.
——————-

“But to suggest that all government workers are a drain is simply wrong.”

No it’s not. It’s very true. I didn’t say government workers don’t provide needed services. All I’m saying is it comes at a cost to the economy, not a net benefit (outside of the few things that government can do better than the private sector, which I heretofore fully acknowledge). But again, we should be willing to pay fair value for the necessary services.
———————

“The economy is inter-connnected. Commerce cannot exist without the rule of law and enforcement of contracts and property rights (that is government). A certain amount of regulation is vital (government). Cetain shared expenses seem best managed by government (defense, immigration policies)”

No argument there. Buy again that’s not what I was refuting.
———————-

“When government hires a police officer they pay (or should pay) the going market rate for that. The government finds it valuable to pay the full cost of that. The officer then pays taxes like anyone else.”

Are you sure you’re not really Captain Obvious?
—————————-

“Your position is simply wrong and seems offensive particularly given the recent tragedy in Moncton.”

Are you going to blame 911 on me as well?
—————————–

“Few of us would be worth a tenth of what we are paid without the benefits of the economy as a whole. Division of labour. Vast interconnected systems. Accumulated investments in productive factories, machinery and knowledge.”

And what’s the price of tea in China again?…
——————————

“The economy would miss very few of us if we were gone tomorrow, be we private or government.”

No, Shawn, I would miss you very much.

#222 Think Twice Before You Buy on 06.12.14 at 11:35 am

http://www.huffingtonpost.ca/2014/06/12/housing-market-canada-bmo_n_5487772.html

I’m sure many of you have seen the latest announcement from BMO predicting that a housing correction won’t happen until 2018 and that housing will be strong leading up that period due to demand from 25 – 35 year olds. They are saying that this age group has been snapping up small condos in urban areas until now but will eventually want to move up to a single family home when they want to start families. They will buy up the homes now occupied by the baby boomers.

My question is this. Who will buy these 500 sq. foot condos that the younger folks now occupy? Certainly not retired couples. Perhaps widowers or single retirees. Also, there have been lots of comments about an over-supply in the condo market of most Canadian cities. I’m curious to know how many condos there are / will be out there compared to the number of baby boomers that will want to down-size.

Thoughts?

#223 april on 06.12.14 at 11:38 am

#219- the link I wanted to submit was Vancourer RE Crash On Track, posted on March 17 2013 but it’s by the same guy Robert Kavcic quoted in link at #191. They don’t seem to know which end is up just say whatever suits their agenda.

#224 pbrasseur on 06.12.14 at 11:51 am

@Think Twice Before You Buy

“…predicting that a housing correction won’t happen until 2018 and that housing will be strong leading up that period due to demand from 25 – 35 year olds

Thoughts?”

It is true that kids of the larger part of boomer generation (those born between 1956 and 1960) are a large cohort that will influence the market.

But if the past is any indication that is not sufficient to prevent a correction, the market was in trouble in the late 80s/early 90s precicely when the boomer themselves were at that age.

#225 Smoking Man on 06.12.14 at 11:57 am

 Think Twice Before You Buy on 06.12.14 at 11:35 am

The parents will swap with the kids.. Kids move into house to raise family, parents move into condo to retire..

#226 blase on 06.12.14 at 11:59 am

She actually uses the word “grief” to describe losing a bidding war. Meanwhile she has a healthy infant.

aaaand she’s an American bible thumper. What a shocker!

Go back to the land where folks walked with dinosaurs, honey.

#227 Holy Crap Wheres The Tylenol on 06.12.14 at 12:08 pm

#216 4 AM Sunrise on 06.12.14 at 11:14 am
#204 Holy Crap Wheres The Tylenol on 06.12.14 at 10:26 am

It pisses me off every time I see Muslims shilling on the street. I’ve read the Qur’an back to back and there’s a prohibition on proselytizing. You’re supposed to go to Islam by yourself; not the other way around.
__________________________________________
Younge & Dundass Eaton Center side of the street south west corner at the front door. Go see for yourself!

I’m going to get a hold of Smoking Man and set up a Old guys Rock and Roll Church beside them. I wonder how many I can convert?

#228 Uncle Scrooge on 06.12.14 at 12:11 pm

Nice article about Condo’s by Dan S. Barnabic

http://www.marketwatch.com/story/older-condos-plagued-by-high-maintenance-costs-2014-06-12

#229 rosie "moving forward" in the knowledge that, "this won't end well" on 06.12.14 at 12:16 pm

Now if Carney could give Harper a call we might start getting somewhere.

http://www.theguardian.com/business/2014/jun/12/osborne-regulators-power-cap-mortgage-loans

#230 bigrider on 06.12.14 at 12:21 pm

#205 Holy Crap where is the Tylenol. “..I hate the faith knockers ..live and let live”

It is NOT ok to believe in anything you want, in the absence of evidence ,simply because it is dangerous. It is belief, unchecked, that can allow those who believe, to heap incredible harm on others who violate the various edicts of their belief system under the pretext that “God” condones it. (think of the stoning of women in Muslim states , Jehovah witness’s who decline blood transfusions to save the lives of their children and the Christian Crusades through history all on the pretext of their ‘beliefs’).

On another note , glad to see my Italianese word “uppa” being used prolifically through the site by other posters.(turneranation and bubblicious today)

Perhaps we can create a new greaterfool lexicon only.

What you say Garth ?

#231 Panhead on 06.12.14 at 12:23 pm

Let’s do this again … been fun.

#232 Warren on 06.12.14 at 12:27 pm

#223 Think Twice Before You Buy

It will be interesting to see the gnashing of teeth from the young people with families who can’t upgrade because their 500 square foot condo is completely illiquid.

#233 calgaryPhantom on 06.12.14 at 12:29 pm

Religion, race, HAM, Immigrants.

Pathetic.

Garth, lately you (deliberately?) include one nugget in your daily blog, touching one of these sensitive topics. ( Naughty!)

#234 HD on 06.12.14 at 12:33 pm

@ #231 bigrider on 06.12.14 at 12:21 pm

It is NOT ok to believe in anything you want, in the absence of evidence ,simply because it is dangerous. It is belief, unchecked, that can allow those who believe, to heap incredible harm on others who violate the various edicts of their belief system under the pretext that “God” condones it. (think of the stoning of women in Muslim states , Jehovah witness’s who decline blood transfusions to save the lives of their children and the Christian Crusades through history all on the pretext of their ‘beliefs’).

Bang on. Nuff said.

Best,

HD

#235 Rick on 06.12.14 at 12:35 pm

To think psychobabble-spouting basket cases like Julia persuade people to hand her their money to help them deal with negative emotions. She should go into real estate.

#236 Pope Nosty666bcVlad the Snugglebombed on 06.12.14 at 12:37 pm

Announcement As tomorrow is Friday the 13th plus a full moon, this is the right time to present this notice.

As our first neighbour (a now-retired undercover RCMP drug expert) used to say, full moons have the psychos / nutbars out howling loudly, but this one includes Friday the 13th. Toss this in for good measure.

A great day to run naked down Main Street!

#237 Italians love real estate on 06.12.14 at 12:39 pm

Bigrider –

I love that word ” uppa”. Have heard it spoke by many a site super over an espresso.. LOL

Keep up the posts. Love em !!

#238 AfterThe HouseSold on 06.12.14 at 12:46 pm

#212 2CntsCdn
“Religion hath no plaith in busineth…”

#217 broadway skytrain
“I served a mean stuffed portobello mushroom last night…”

You two cracked me up! Thanks for the laughs.

#239 Nemesis on 06.12.14 at 12:56 pm

#IrreverentApostolicAfterThoughts…

Yikes! The more ya think about this, the more it starts to make sense… as in, Mrs. Sterne’s unrequited longing for SturdyTemporalLodgings.

For, theologically speaking, what other outcome could we reasonably expect from a spiritual movement based on the teachings of a wandering carpenter and his crew?

TheDevilMadeMeDoThat.

#240 Old Man on 06.12.14 at 12:57 pm

There are those in Ottawa who need to be saved with no more Blue Rent religious revivals.

#241 Cici on 06.12.14 at 1:03 pm

#71 Smoking Man

That is hands-down your best post ever. And there are no spelling errors…did you plagiarize it? ;-)

#242 Mike T. on 06.12.14 at 1:08 pm

The church community of Julia has rallied impressively. You should see my email inbox. — Garth

Nice!

Tell them that going to church makes you a good person the same way standing in a garage makes you a car.

ie: it does not

#243 alan on 06.12.14 at 1:08 pm

BoC reinforced that RE in Canada present minimal risk. Still expects a soft landing. Therefore, Vancouver and Toronto will be just fine.

#244 Cici on 06.12.14 at 1:14 pm

#79 4 AM Sunrise

To be fair to Julia, I don’t think she is waiting for God to take action in her favour. I think this was a marketing/publicity stunt designed to incite richer Christians into providing for her through “outreach.”

I’m sure tons of money is being directed into her “I’m special, I’m a Christian mother” personal house-buying foundation as we write/speak, all donated by well-meaning Christians who thing that the only issue of importance in this life is to procreate and buy a home for your family.

Women are a lot smarter than this blog gives them credit for.

#245 José on 06.12.14 at 1:19 pm

The lack of experience and lack of qualification is showing loud and clear in the selection of Poloz.

He should have listened to the OECD last fall when they told the BOC to raise rates to fend off a housing crisis.

Now, even Poloz is admtting that substantial downturn in Canadian houses would be devestating to the national economy.

Instead he’s showing his stripes by trying to talk down the Loonie. Does he really believe that a few cent drop is going to rescue Canadian Maufacturers? That’s like giving Advil for a brain tumor.

Like Garth said a few blogs back, the main reason that manufacturers are not investing in Canada is because it’s too expensive for employees to live – mainly because of the outrageous cost of shelter. If you were a manufacturer, where woul you locate? Probably in a location that costs half as much for an employee to live, thus having to pay them less.

#246 4 AM Sunrise on 06.12.14 at 1:19 pm

I reread the post and I see that Julia and her husband are wanting for a house and for “financial responsibility”.

Classical financial newbie #fail.

Real estate hornies all have a brand of Stockholm Syndrome where they equate debt with “responsibility”.

How about building up one’s portfolio as a new kind of “responsibility”? And there are religious-minded investment blogs out there. Hell, you could donate some of your capital gains to your church.

Ah, but the pull of the herd is strong. Only by joining in the groupthink race to the bottom do you get approval. Sad, really. It’s sort of like how some members of my family are pissed off at me because I don’t derive my self-worth from others’ opinions.

#247 José on 06.12.14 at 1:24 pm

And you thought “F” and Carney were bad. Compared to the duo of Poloz and “O” they were almost heroic.

This new tag team is rapidly orchestrating the sharp drop of the Canadian economy.

#248 K Pax on 06.12.14 at 1:26 pm

Ahhhhh..greed, regret and the nesting instinct…..the very nexus of the subconscious where all the archetypes clash and howl for survival. Next….the funny part…is the entitlement attitude that’s saying…” I deserve a house”….albeit at a much lower price…so that I don’t have to give up my hobbies, my clothes, my two cars and travel plans in exchange. “Why should I have to sacrifice and not get what I want….right now!!”

Well sweetie…..house prices are not coming down…..it would fly in the face of the governments extreme attempts to pump inflation into the economy. Expanding house prices have made the Canadian middle class the richest in the world…..and you are meant to spend spend spend on the back of your new found equity.

Meanwhile the call on energy was spot on….Iraqi al queda have taken Mosul and are marching on Baghdad as we speak. Expect President Maliki to be landing at Pearson anytime soon with billions of looted Iraqi treasure….excepted into Canada with a wink and a nod of course. We are the biggest money laundering pit worldwide. Didn’t we even take in Idi Amin’s 14 wives and hundred children and put them on welfare…in spite of them being worth billions? Gawd…..we still have ex nazi’s building model airplanes in suburban Mississauga….none of the crooks ever get deported. We welcomed the despots of Iran…why not Iraq?

With all the untaxed dollars pouring in from wicked regimes around the world….why do you think the floor is not set under house prices?

#249 Think Twice Before You Buy on 06.12.14 at 1:38 pm

#225 “But if the past is any indication that is not sufficient to prevent a correction, the market was in trouble in the late 80s/early 90s precicely when the boomer themselves were at that age.”

They say that the late 80s/early 90s correction occurred when there was an unusually low number of people in that age group, unlike today. Their argument is that today we have sufficient number of people who will want to buy single family homes. But that still means we need enough first-time buyers or other folks who are in the market for a box-in-the-sky condos.

#250 Old Man on 06.12.14 at 1:44 pm

#248 Jose – F and the Carnival Man were no choir boys because they were complicit with the hidden agenda. Poloot and the Olive Man are the latest puppets to be watched.

#251 Doug in London on 06.12.14 at 1:48 pm

“Extensive government involvement in mortgage insurance exposes taxpayers to more risk than is necessary for ensuring a liquid and efficient market,” the OECD report explains.
————————————————————–
It’s worth noting that governments, like the Ontario Liberals, are harshly criticized for spending public money to create government jobs. Isn’t taking such risks with mortgages to create jobs and letting the taxpayer pick up the tab much the same idea? Why not bring back the centrally planned economy of those good old days of the Soviet Union?

As for Julia Sterne, some day the housing market will come back to reality and, if she really wants a house, her prayers will be answered. Just wait patiently, it has to come sooner or later. I’m not a religious person, but isn’t patience considered a Christian virtue? In the present time, God may be answering her prayers by telling her NO, this is not the time to buy, and saving her a lot of trouble down the road.

#252 Think Twice Before You Buy on 06.12.14 at 1:54 pm

#224 – BTW: We used to own one of these tiny box-in-the-sky condos in the Griffintown / Old Montreal area. We sold it back in 2010 for 40% more than we paid. A year ago I bumped into the real estate agent who sold our place. She said that we had sold just in the right time – that prices have been going down. Now when I see the number of condos being built and coming to the market, wow!

#253 straight six on 06.12.14 at 1:57 pm

It’s one giant experiment, and we’re all the lab rats.
Mortgage rates went from 10% in 1980.. to over 19% in 1982.. to 2.5% in 2014.
In that time, RE prices have risen from 80K for a 3 bdrm Vancouver west side house.. to 3 million for a tear down.

A mere 2 point corrective increase would send a tsunami of human wreckage from sea to shining sea. Thankfully Joe would never allow it.

The SS Titanic has been renamed! and for safety reasons is bigger than ever.
It’s now the SS RE.

#254 Toronto_CA on 06.12.14 at 2:15 pm

So the IMF, OECD and Bank of Canada (through Poloz) are all warning us Canadians that the housing market is perched to take down the entire economy.

Do people think we’ll never have another recession again, even though historically we go through one about every 10 years or so (we’re 5+ years from the mother of all recessions)? How can house prices remain this high relative to rents/incomes, nevermind increase further, when the next recession hits and people can’t find credit or jobs to buy houses or pay mortgages?

Oh, Canada.

#255 Humpty Dumpty on 06.12.14 at 2:31 pm

Repent First

Pray latter…

Mass Fish Deaths: Millions Have Been Found Dead All Over The World In The Past Month

http://themindunleashed.org/2014/06/mass-fish-deaths-millions-found-dead-world-past-month.html

Exodus 7

17Thus saith the LORD, In this thou shalt know that I am the LORD: behold, I will smite with the rod that is in mine hand upon the waters which are in the river, and they shall be turned to blood.

18And the fish that is in the river shall die, and the river shall stink; and the Egyptians shall lothe to drink of the water of the river.

19And the LORD spake unto Moses, Say unto Aaron, Take thy rod, and stretch out thine hand upon the waters of Egypt, upon their streams, upon their rivers, and upon their ponds, and upon all their pools of water, that they may become blood; and that there may be blood throughout all the land of Egypt, both in vessels of wood, and in vessels of stone.

20And Moses and Aaron did so, as the LORD commanded; and he lifted up the rod, and smote the waters that were in the river, in the sight of Pharaoh, and in the sight of his servants; and all the waters that were in the river were turned to blood.

21And the fish that was in the river died; and the river stank, and the Egyptians could not drink of the water of the river; and there was blood throughout all the land of Egypt.

Stay tuned for more, this is just the beginning…

#256 Vamanos Pest on 06.12.14 at 2:35 pm

How dare you Julia, HOW DARE YOU, immerse yourself in such self-pity. The fact that you couldn’t buy a house after “Almost. A. Whole. Entire. Year.” (Oh, the horror) is hardly a crisis. I’m paraphrasing your second paragraph here, but in the discussion of grief, perseverance, patience, acceptance, anger, sadness and fear, did you ever consider SANITY?

Honestly, your sense of entitlement sickens me. By virtue of of being a member of the middle class in a first-world country you are amongst the wealthiest people on the planet. But rather than recognize and appreciate all the things you do have, you allow your emotional well-being to collapse around the thing you can’t.

Want to feel better? Try gratitude over greed.

#257 yo on 06.12.14 at 2:46 pm

I high lighted this risk a month or so ago
http://www.theglobeandmail.com/report-on-business/economy/canadas-economy-could-take-hit-from-chinas-banking-crisis-boc-warns/article19134209/

Now the BoC is putting in its public release. I assure you, that means that’s bad.

I use to work in investment banking in Hong Kong for about 10 years. Still have allot of friends/colleagues out there. From what I have heard from them – this downturn in China will have severe consequences. I believe there will be a last burst of money from China trying to run away, and then it will just collapse for a while.

#258 Old Man on 06.12.14 at 2:50 pm

I just got my letter from Who Dat giving me the address to my polling station. I brought out my google mapping and got in my caddy to take a look around. There must be an error because its the correct address for Joe’s Bar and Grill. Can you imagine my utter shock!

#259 brainsail on 06.12.14 at 2:54 pm

Don’t worry the crazy responses on this blog in the last 24 hours are because of the full moon event that is happening right now.

“Tomorrow is Friday the 13th and a full moon. That won’t happen again until 2049”

http://www.vox.com/2014/6/12/5801196/tomorrow-is-friday-the-13th-and-a-full-moon-that-wont-happen-again

#260 dontcallmeshirley on 06.12.14 at 2:55 pm

@ Shawn #173 from yesterday,

Thanks for your perspective.

I’m close to what I “need” (you’re right this should be “want”) now, running my own book, which is of a size close to the low end of your range.

I was curious to see what Garth’s bucket shop could offer. Sadly he declined to respond, with even a range.

So in that void of information I must presume running my own book is better than farming it out.

#261 pbrasseur on 06.12.14 at 3:01 pm

@Think Twice Before You Buy on 0

“They say that the late 80s/early 90s correction occurred when there was an unusually low number of people in that age group, unlike today. ”

Completely false, just the opposit, take a look at Canada’s age pyramid.

https://www.google.ca/search?q=canada+age+pyramid&tbm=isch&imgil=XbSLoqmO7iSQvM%253A%253Bhttps%253A%252F%252Fencrypted-tbn3.gstatic.com%252Fimages%253Fq%253Dtbn%253AANd9GcRzqUnuwVD70gQ8liSmu4wrVe7zrejpbVw3j2ZC6cMyXjbjaMd9%253B960%253B720%253BMsLQbIojNBhdlM%253Bhttp%25253A%25252F%25252Fwww.med.uottawa.ca%25252Fsim%25252Fdata%25252FVital_Stats_e.htm&source=iu&usg=__Qso-b-GhB3VMWNgrql8Hm9Z4V8w%3D&sa=X&ei=JveZU_mmGPXFsATii4DIBA&sqi=2&ved=0CCIQ9QEwAg&biw=1208&bih=792#facrc=_&imgrc=XbSLoqmO7iSQvM%253A%3BMsLQbIojNBhdlM%3Bhttp%253A%252F%252Fwww.med.uottawa.ca%252Fsim%252Fdata%252FImages%252FPopulation_pyramid_Canada_2011.gif%3Bhttp%253A%252F%252Fwww.med.uottawa.ca%252Fsim%252Fdata%252FVital_Stats_e.htm%3B960%3B720

#262 8102 on 06.12.14 at 3:13 pm

Why would anyone be surprised at Oliver’s lack of performance? The man is merely hearing his master’s voice.

Remember the “Great Financial Crisis” of 2008? This is the same Harper Government that discovered it the day after the October 14, 2008 election. And it suddenly will discover a disastrous housing bubble the day after the next election and initiate the painful steps of dealing with it.

Until then, buy on! We are in good hands with Stephen Harper.

Bingo! Nothing is going to change until after the election – The Conservatives want nothing to get in the way of there hoped for re-election – Can they contain it though???

#263 frank le skank on 06.12.14 at 3:18 pm

#243 Mike T. on 06.12.14 at 1:08 pm
Tell them that going to church makes you a good person the same way standing in a garage makes you a car.

ie: it does not
———————–
Good one!

#264 Daisy Mae on 06.12.14 at 3:21 pm

#121 Retired Boomer: “Are churches tax exempt in Canada? Do they pay propert taxes? There’s a source of revenue yet un-tapped….”

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

Yes, they are. And I often wonder…just why. (???)

#265 4 AM Sunrise on 06.12.14 at 3:25 pm

Oliver/Poloz & Co. tell us that they are closely watching the housing market. Watching, watching, watching…

…like mall cops: Observe and Report.

I knew a bank security guard a while back. He said his job is to Observe and Report. And if anything actually happens, his job description doesn’t allow him to do anything about it – he has to call the real cops.

#266 TurnerNation on 06.12.14 at 3:27 pm

300th?? (This blog, so verily.)

Oil’s well that ends well.

#267 Jonathan on 06.12.14 at 3:34 pm

#242 Cici

You wrote:

“#71 Smoking Man

That is hands-down your best post ever. And there are no spelling errors…did you plagiarize it? ;-) ”

100% plagiarized of course, like almost everything he dishonestly pastes on here.

Not worth reading.

#268 Big Brother on 06.12.14 at 3:35 pm

#242 Cici on 06.12.14 at 1:03 pm
#71 Smoking Man
That is hands-down your best post ever. And there are no spelling errors…did you plagiarize it? ;-)
……………………………………………………………………….
MKULTRA says. Yep he plucked that chicken right out of his fav show.
True Detective.

http://en.wikiquote.org/wiki/True_Detective_%28TV_series%29

#269 Daisy Mae on 06.12.14 at 3:37 pm

#139 Waiting: “Ugghh What is it about people who feel the need to “save” others? Forget HAM, now we have to deal with HHM (House Horney Missionaries) http://vimeo.com/34629295

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

I watched a smidgen of this video…and it was truly nauseating. So, now we know who ‘Julia’ is — a religious fanatic with a serious problem, and doesn’t belong on a blog pertaining to finances and real estate. Go away!

#270 Nemesis on 06.12.14 at 3:48 pm

#MeanWhileBackInCrankyTown #School’sOut!

[CBC] – B.C. teachers to begin full-scale strike Tuesday

http://www.cbc.ca/news/canada/british-columbia/b-c-teachers-to-begin-full-scale-strike-tuesday-1.2670993

#BonusZenTOTPGuitarHeros! #HeGolfs,Too!

http://youtu.be/VBEcLxnXVAc

#Well,Actually… #NotForEverybody

[Tyee] – Which MLAs Send Kids to Private Schools? We Asked: But few want to talk about it. Only 19 responded to our simple question.

http://thetyee.ca/News/2014/06/09/MLAs-Private-Schools/

[NoteToSM: Admit it… you know you want to move to CrankyTown!]

#271 Tony on 06.12.14 at 4:08 pm

Re: #223 Think Twice Before You Buy on 06.12.14 at 11:35 am

The 25 to 35 year olds won’t even get passed square one. Most of them will lose their job and their 500 square foot condo. Just like in America the banks will try to unload those 500 square foot condos for 25 cents on the dollar.

#272 Joe2.0 on 06.12.14 at 4:13 pm

167-Bigrider

Religion and Politics.

Nothing better to get the herd riled up.
Hard to talk about the Bible when most people have never read it and only parrot here say.

Pointing fingers at people “who did atrocious things in the name of God”

If I lend you a car to go to the store and you choose to run people over, or if you get upset and stick a fork in someone.
It that Gods fault?

Starving kids isn’t Gods fault try redirecting the hundreds of billions of dollars spent on weapons, rainmakers.
There’s always been enough to go around if managed correctly but mans main mandate is overwhelming selfish, me ism.
Hence the state of the planet.

It’s about personal choices, we weren’t made puppets.

For most it’s easier to go with the herd even if they know not what they say, again it rules out the responsibility factor.

Ignorance isn’t bliss it’s a convenient cop out.
Ask and you shall receive.
What’s so offensive about that?

#273 José on 06.12.14 at 4:28 pm

#251 Old Man

“F and the Carnival Man were no choir boys because they were complicit with the hidden agenda. Poloot and the Olive Man are the latest puppets to be watched.”
—————————————————————

We now have an exercise in making bad policies disasterously worse!

#274 bigrider on 06.12.14 at 4:28 pm

#272 Joe 2

You said one thing right in that in cohesive blather , which failed to address the logic of my original argument .

You are correct in saying it is not ‘God’s’ fault because he doesn’t exist

#275 Old Man on 06.12.14 at 4:41 pm

I was looking at another small town Ontario of about 11,000 that is a gem not far from Toronto with 40 listings. No bargains as a good home will cost about 350 to 400K; no depression there, but more listings than my #1 pick.

#276 Smoking Man on 06.12.14 at 4:43 pm

#269 Big Brother on 06.12.14 at 3:35 pmThat is hands-down your best post ever. And there are no spelling errors…did you plagiarize it? ;-)
……………………………………………………………………….
MKULTRA says. Yep he plucked that chicken right out of his fav show.
True Detective.

http://en.wikiquote.org/wiki/True_Detective_%28TV_series%2
……..

Correct, if you go to the archives around 2012 1st before my pall nic wrote the show, you will find an almost identical post from me.

Big brother, episode 5 where ginger is talking rust into going to the hood, Ginger mentions my name..

Obviously, nic had to pencil me in… And look for searchlight Nevada to be in season 2 episode 3….UCC told me..

#277 bigrider on 06.12.14 at 5:06 pm

#273 Joe 2

My previous post to you was to blunt and may have offended. Did not mean to do that and apologize if I did.

Let me try it another way.

As a father myself, I re-direct my children when they make bad choices with their free will. I re-direct the children of my neighbors as well, when for instance, they choose to run on the street after a ball without looking both ways , I interfere to stop harm from coming to them. I actually pulled a two year old out of a pool in Mexico when on vacation one year, when by accident he fell in and his mother had looked away for a moment. I happened to be right there and easily had the power to do so. I assume any person with a conscience would have done the same thing.

Now most religions preach an omnipotent overseer God the father of some sort that loves us and listens to prayers and answers them, on occasion favourably and unfortunately equally with unfavourable results.

I would say that if this God exists, shame on him for not stepping in to save us, ALL the time from the poor choices our free will gives us from time to time and most importantly, to the grief experienced by millions by no fault of their own but perhaps the free will of others.

I will always pull that child out of the pool and always stop the kid from running in the middle of the street…no exceptions !

#278 observer on 06.12.14 at 5:50 pm

I like you smoking Man
Sometimes I think you’re the only one here with the goods to understand it all.
All The best to you.

#279 straight six on 06.12.14 at 5:54 pm

God.. Don’t blame me!
I did not have religion with that woman.

#280 eddy on 06.12.14 at 5:58 pm

#214 Shawn on 06.12.14 at 11:02 am

“Your position is simply wrong and seems offensive particularly given the recent tragedy in Moncton.”

—-

I hate to take away your security blanket , but someone’s got to do it: Moncton was a psyop. It’s always the same, actors, lying witnesses, local ‘authorities’ (Freemasons) lying cops, lying military, lying media, all following Harper’s lead. You could start here:

http://fakeologist.com/2014/06/05/moncton-event-rambo-eh/

Or type ‘Moncton shooter hoax’ into a search engine.
And what really sickens me is the citizens of Moncton who go along with this hoax. No one died in Moncton.
Everyone who participated in this hoax deserves to be prosecuted, but that’s not possible when the police are perpeTraitors and the PM has a leading role.

#281 jess on 06.12.14 at 6:34 pm

math replacement therapy : cartoons from the library of congress

http://www.loc.gov/exhibits/herblock-enduring-outrage/

http://www.loc.gov/pictures/item/2006682399/

#282 boo hoo on 06.12.14 at 7:43 pm

well, poor Julia can’t buy a house. And it’s tearing her up inside. To. Her. Core. For. A. Year.

At least she has a bunch of nice friends rallying around her and pounding Garth’s in-box with nasty emails. In a nice, Christian way, of course.

Julia, you’re a counsellor? Really? I could use counselling (couldn’t we all?) but I’d never consider coming to such an entitled, whiny, phoney, faux “nice person” as yourself.

You need a new line of work. Have you considered Real Estate?

#283 Daisy Mae on 06.12.14 at 7:58 pm

#283 Boo Hoo: “Julia, you’re a counsellor? Really? I could use counselling (couldn’t we all?) but I’d never consider coming to such an entitled, whiny, phoney, faux “nice person” as yourself.

You need a new line of work. Have you considered Real Estate?”

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

Perfect! LOL These religious fanatics are so damn tiresome….

#284 Joe2.0 on 06.12.14 at 8:02 pm

278-bigrider

No offence taken.

He did offer the gift for all be to saved.
Read the New Testament it’s in there.
He offered us the gift to accept or deny.
That’s the free will part.

Any other way would make us programmed.
I tell people that think Jesus is a crutch or a fairy tale to sincerely tell him what they think and ask him to reveal himself.

I guarantee if you can muster up the sincerity that you will get a response.
What have you got to lose?
It’s amazing how hard it is to do.

#285 Warren on 06.12.14 at 8:18 pm

@ Joe 2.0

Do you not understand how flat and uninspired your words sound? If you’re going to preach, at least be interesting.

#286 Joe2.0 on 06.12.14 at 10:26 pm

286-Warren

I’m just trying to explain to people how easy it is to meet God, one on one.

The spirit in you won’t let you do that, it makes you angry, that validates the spiritual battle.
The mention of Jesus name has much authority.

#287 Warren on 06.13.14 at 12:19 am

This is exactly what I’m talking about. Too many people seem only capable of speaking about Jesus in the most hokey or condescending manner.

And if suggesting that Jesus’ name has much authority because my spirit is in a tizzy helps your elaborate delusion than so be it.

#288 spooner on 06.13.14 at 12:46 am

You people are awful. You get your joy from publicly humiliating someone while you hide safely behind your fake names and false identities. You name call and utterly insult someone you’ve never met and her family. How dare you debase her to the point of calling her lusting and house horny just because she wants a home for her family. You have no idea what there situation in life is or what they have both gone through. Shame on you for calling someone fake for bearing their heart and emotions. Look at yourselves and tell me none of you have felt desperate or hurting for anything at any time in your lives. You don’t have to agree with her but you certainly don’t have to humiliate her either. Even going so far as to search her out in videos so you can denigrate her further. Do you think she doesn’t see any of this? Awful people. Calling her a religious fanatic because she stands up for her beliefs. By the way “Christians are in the housing market” Well yeah they are people too and need houses to live in just like you.

#289 crowdedelevatorfartz on 06.13.14 at 9:21 am

@#289 spooner

Interesting.
You actually believe that with all the people being injured or dying daily all over the world in wars, disease, fires, drownings, murders, accidents, etc.etc.etc.
That god, allah, buddah, whatever……….listens to the greedy, self serving prayers of one house lusting, envious immature child?
Wow!
Ignorance is bliss.

#290 Dadeedum on 06.13.14 at 9:37 am

@#281 Eddy

Yeah, and I heard that Elvis directed da movie. And the set, which was the same one used for the fake moon landings, (and 911, natch) and where all the evidence was stored in Marks and Spencer boxes, afterwards mysteriously burst into flames, completely destroying all proof. So… you got a match, Eddy?

#291 nonplused on 06.13.14 at 8:08 pm

#121

Taxing churches probably won’t work.

First, they are already in decline, being too expensive for the services they offer.

Second, the members have all already paid their taxes (presumably).

Third, the preacher does get taxed for his remuneration.

Think of a church like a soccer or hockey club. It’s just a group of people getting together to pursue a common interest.

That said, they probably should pay property taxes if they own a building, same as they pay rent if they don’t. But income taxes I would say no. Just the preacher on his remuneration, same as the paid coaches do for soccer and hockey.

And no, I am not religious, but on the other hand I don’t play soccer anymore either.

#292 nonplused on 06.13.14 at 8:17 pm

Here is another comment on churches.

Why do they mostly all have to hire janitors? Why doesn’t the congregation take turns? In fact, why hire a preacher? Couldn’t they take turns at that too?

But regardless they all do and the income of the janitor and the preacher are both taxed, same as the income of staff from any other charity or non-tax entity so it’s all fair.

One reason maybe they shouldn’t pay property taxes is that the members have all already paid one way or another. The school tax is paid, etc. on the other property the members own or rent. Why should they pay more because they want a temple of some sort? I imagine they do pay utilities so it’s not like they are getting anything for free.

#293 Doug in London on 06.14.14 at 10:41 am

@bigrider, post #278:
I’m not a religious person (gave up on Christiality when it adopted right wing extremist views) but may be able to answer your question. God doesn’t intervene, even when the worst atrocities are committed by humankind, because we have freewill. This God could stop all evil in the world, but it would be at the expense of us all being mindless zombies like on the movie Invasion of the Body Snatchers. There are trade offs in everything.

#294 liquid in calgary on 06.14.14 at 9:39 pm

At Sheanne Wallace no. Twenty Three

“Nowhere else on the world does CMHC program exist”

Wrong. Ever heard of Fanniemae/Freddiemac? Taxpayer back mortgage guarantors (US). The US evewn has a taxpayer backed student loan program.
Please sir, a bit more research/knowledge before posting
Go Riders!