Who are you?

BLOG DOGS modified

When Darlene wrote the other day saying it would irritate her if I died, Raymond got to thinking. “Your most recent post ended with that reader asking about, well, who we should read if you stop writing,” he said.

“That got me thinking. Who are your readers? Maybe you should ask them who they are, what they think is going to happen to real estate in the next few years.”

This is probably a good idea. After all, we come here every day, snipe and bitch at each other, get horny or deleted, make sweeping pronouncements, create facts, or try to sound way richer or macho than we are. It’s the Internet thing. We’re all rock stars. Anonymously brave, sage and sexy.

Here’s what I know about you.

During the week about twenty thousand visits happen every day, and that trails off by two-thirds on Saturday, when I find something better to do. Over 81% of the people showing up are regulars, probably because they have shallow and unfulfilled lives, live in musty basements, are anarchists, dog owners, hope to see more underwear pictures, or are easily addicted to anything. Just under 19% are virginal.

The average time spent here is a little more than married couples take to have sex: three minutes and 29 seconds.

Not surprisingly, 89% live in Canada, 5.4% are Americans, and there are 736 people in New Zealand. Go figure. Also no surprise that the three largest urban areas for visitors are the GTA (20.8%), Vancouver (11%) and Calgary (6.2%). But that also means 60% live in places where bidding wars never happen, where hipsters don’t pay $900,000 for slanty semis, seven-figure listings are rare and houses can sit unsold for a year.

I also know that fewer than 1% of the people who come here every day leave a comment. Perhaps some of the regulars scare them off. Hell, they scare me. Maybe they just know better. Whatever. It’s a free blog, and everyone is welcome to talk, so long as you’re not abusive or simply a dink.

(Speaking of which, it’s now almost half-way through the year and my file of deleted comments for 2014 is sitting at 101 pages, single-spaced. The total for last year was 252 pages, so there is currently 19.8% less vitriol on this blog. Pride, people.)

Well, that’s about it – all I know about you, which isn’t much because I’m too cheap to pay Google Analytics for a big report on breakdowns by sex, age or other vital characteristics. (You might have noticed this site refuses all advertising, and sells nothing – by design. Hence, no budget.) Actually I care more about the financial aspects of our group, which obviously includes how you feel about real estate.

So, I agree with Raymond.

“Maybe we could all find out more about each other if you could do a survey of your readers, with a few key questions. Like: (a) rent or own, (b) family income, (c) age and (d) your outlook for real estate over the next one or two years.

“For example, will we have a 50% crash, 30% crash, 10% correction, no change, or higher prices? What do you think?”

I think it’s smart, Ray. But what about the blog dogs? Will they answer those four questions? Are we a kennel full of mangy, subterranean renters and Millennial detritus, or a vibrant pack of sleek and successful purebreds?

There’s only one way to find out.


#1 Jenn on 06.20.14 at 9:09 am

Wow!! We all like to share.

1) Own (We built our own home cash. Stratford Ont.)
2) $320,000. Combined
3) 43 & 55
4) 30% correction over 7 years starting soon at a theatre near you.

I just skimmed a few of the comments and I am betting that some where through 515 comments someone mentioned that we are not doing too bad when it comes to owning and our earnings. I am really impressed. Good job Canada!!

#2 Dual Citizen In Canada on 06.20.14 at 9:14 am

The most impressive stats on here are the young, high income earners who are debt free. I salute you and encourage you not to fall into the debt trap or the peer pressures of life. To have control of your finances at such a young age will pay dividends as you age and give you the freedoms the rest will continue to dream of. If you have kids, please pass on your life lessons to them. It’s the genetically right thing to do.

#3 rosie "moving forward" in the knowledge that, "this won't end well" on 06.20.14 at 9:15 am

– Do any of us really own anything?
-$200.00 more than we spend.
-You’re only as old as you look. We look marvelous.
-Over correct, then back to the mean.

#4 will on 06.20.14 at 9:19 am

a) own
b) 125k (family)
c) 31
d) 30% crash

#5 Susan from the London area on 06.20.14 at 9:21 am

1) rent but own 2 houses I rent out (long story)
2) $103,000 soon to change lower. Investments and income.
3)56-58 non employed in transition
4)I think it has to drop it dosn’t make sence the cost of housing compared to the job market and no increase in wages. Real Estate has already gone beyond the principle of Diminishing Returns but continues to go up. Something has to give.

#6 andrew on 06.20.14 at 9:24 am

rent (b) single, 28500$ (c) 25 (d) Bugbear

#7 Phil from Fernie on 06.20.14 at 9:29 am

1. Own in two provinces, rent in Nevada
2. $10.2 million 2013 (private family corporation)
4.We are in denial here and will follow a very similar path as the US six years ago. We expect a national 30% drop within 3 years and no gains after that for a decade, so equivalent to another 10-20% drop.

#8 Dave Beethoven on 06.20.14 at 9:30 am

A. Rent (downtown Toronto)
B. Married (no kids). Family Income: $235,000.
C. 35 (me) and 34 (wife)
D. 416 single detached and semis: I predict sideways drift at current levels for a few years, maybe a 5% decline in prices eventually but not in the next year or two. The condo market baffles me entirely, I would not be surprised if condo prices declined by 30% (or not at all).

#9 Waterloo Resident on 06.20.14 at 9:32 am

EVEN MANY ABOVE $250,000 !

Yet at the same time most of them are expecting a crash in housing ?

Come on here, if so many people in Canada have such high incomes, then housing at today’s prices are actually CHEAP, and those $1 Million houses will soon be selling for double or triple those prices, AGREED?

#10 Lotuslander on 06.20.14 at 9:35 am

Owned various homes since 1980 then sold in 2011. Renting since then.

$120,00 both of us combined

59 and 60 years old

We’ve been watching the Vancouver market closely and it defies common sense. Real estate decisions are often based on emotion (I’ve been there myself) but when the fundamentals are so skewed and the economy is floundering, bad things can and often do happen. It’s astounding how delusional many people are. This is only delaying the inevitable crash. It’ll start out slowly and then implode but when that’ll happen is anyone’s guess.

#11 Mike in Edmonton on 06.20.14 at 9:38 am

A.) Rent
B.) $133K last year, on track for $150K this year
C.) 37
D.) Prices with continue to increase with no change in interest rates.

#12 Horny Calgary Truck Guy on 06.20.14 at 9:40 am

a) Rent
b) 75k to 85K (single income)
c) Dirty thirties
d) Calgary down 10% in five years

#13 gladiator on 06.20.14 at 9:40 am

next time you ask for such info, please also ask what people do for a living. So many high income earners, which given the type of info in this site is normal, but nothing about what they do.
I am dying to know what those who make 150+ do for a living. Maybe I am in the wrong field and shouldn’t have wasted my time on studying for my CFA exams?

#14 Gmac on 06.20.14 at 9:40 am

a) Rent – much to my wife’s disappointment
c)Late 40s
d)Agree with you on Real estate, disagree with your analysis of equity market. All Markets messed up due to low interest rates/QE. People penalized for saving and people are rewarded for being too aggressive. Fundamentals don’t support where the markets are at. Govt stats are even worse. In a world where all money is backed only by the faith of the govt, don’t expect to get the true stats from the govt.

#15 drawn to black on 06.20.14 at 9:43 am

A) rent
B) $80k
C) 27.5 years old
D) in 5 years, 30%

#16 liquidincalgary on 06.20.14 at 9:47 am

this just in: core inflation at 1.7%

sure happy for those inflation linked investments now, eh boy-o!

#17 Yanniel on 06.20.14 at 9:47 am


You should create a pull. Ask your webmaster for it.

Not everybody likes writing comments, but clicking a button or two is easy.

So, make a pull with your questions. You’ll get a bigger (and more condensed) sample of responses.

#18 calgary poor on 06.20.14 at 9:48 am


I am in the same spot, minus about 70k in the income area. And I too feel the same. I had no money to buy 5 years ago, and now that I have money I cant justify its cost. :(

#19 cody on 06.20.14 at 9:48 am

Holy crap, look at all the high earners here! I’m 28, work as a software developer in Toronto, and make 57k (about average for my level of experience), and reading your posts has me very depressed. I’ve tried interviewing for higher paying jobs but it seems nobody wants to pay more than I already make because there are ten other guys lined up willing to work for less. How in the world do you guys make the money you do? Help a brother out.

#20 Rusty Venture on 06.20.14 at 9:49 am

Ok I’ll play too!
a) own (the bank owns 35% of the Venture compound)
b)$95k salary plus $5k investment income
d)SFH steady over next 2 years, then underperform vis-a-vis inflation. Condos down 10-15%…

I am expecting inflation, BTW, both CPI and M2. Salary inflation, not so much…

#21 Rene on 06.20.14 at 9:49 am

a) Own in small town near Winnipeg
b) $110,000 (family income)
c) 36 and 31 years (3 kids aged 6-4-1),
d) 10% drop in 2 years, 20% drop over 5
e) Only debt is mortgage at 50% of home value. 90k in retirement savings + 2 DB pensions + ESOP)

#22 gulf islander on 06.20.14 at 9:50 am

a) rent, sold a few years ago, but going back in; building a small home on owned Ag land.

b) 34k combined.

c) 3 score years and 16

d) continuing slow slump.

Soaring with the eagles, but trying to stay below the radar.

#23 ozy - MAKE A LINK and COMPILE SURVEY automatically on 06.20.14 at 9:51 am

1. OWN two strategically located properties
2. 110000
3. 40-45 old
4. Some will go higher (south of HW401 freeholds on subway line), some will stagnate (non-diverse, ethnically enclavized suburbs outside Toronto), and some will drop (most condos with some exceptions).

#24 Matt Baillie on 06.20.14 at 9:54 am

A) Rent from family
B) 70,000
C) 29
D) Not up, down if we get mortgage rates climb or any number of things happen.

#25 JRH on 06.20.14 at 9:55 am

The pile is getting higher…what’s that smell ?

#26 TryingMyBest on 06.20.14 at 9:59 am

a) rent
b) 85 000$
c) 33
d) 10% correction for Montreal

#27 Delusional!? on 06.20.14 at 9:59 am

No wonder price of house is so high, the rest of Canada is delusional as the posters here (with their average fantasized 200K+ income). Anyone can easily afford a $1 million house.

#28 Soon to Retire on 06.20.14 at 10:01 am

a) own
b) 245,000 (consultant in the oil industry)
c) 54 years old
d) Prices will plateau and then stagnate with a 10%-20% decline depending where you live. The stagnation will last 5 to 10 years then start up again.

I built a retirement home in BC and am presently carring a mortgage on it. I plan to sell my paid-off home in Calgary in a few years, pay off the mortage on the BC property, and add the difference to the Garth-like investments I have. ETF’s forever!

#29 Mithan on 06.20.14 at 10:01 am

a) Rent
b) $80,000
c) 37
d) No idea. 10-20 years stagnation at the very least.

Regina is correcting already though. Having sold my house a while back, I peaked out and probably made $30-40k more than I would get today, even though the Leader Post reports that we have only fallen about 1% in the last year. I call BS on that one.

The simple fact is that in Regina, most of the news jobs created were for people building homes. Home starts are down about 50% or something, now shifting to Multi-family homes because that is where the market still resides due to prices (ie- single home costs $500-600k, multi-family costs $200-400k).

Well, this is going to slow down, resulting in people losing their jobs slowly, apartment vacancies increasing, etc, etc. Late next year and 2016+ is when things are going down here.

#30 gla2yyz on 06.20.14 at 10:06 am

A) Rent, and glad of it.
B) Up until a month ago $140,000. But now Beloved has packed her bags, $72,000. Another reason I’m glad I rent!
C) 32
D) I don’t anticipate a major fallout in major urban centres (location location location) but in the hinterlands (i.e.: outer GTA) there will be a gentle slide into mediocrity within the next few years. We can’t stay this course forever without hitting a sandbar.

#31 Bloodcross on 06.20.14 at 10:07 am

1) Rent
2) 150k
3) 37 single
4) -25% crash, but 10+ years away. Demographics are a slow process.

#32 Baz on 06.20.14 at 10:08 am

A) Rent
B) $87,000 per year (but I have good savings and I easily can put a 50k in down payment)
C) 32 and 31 + 3 little girls
D) 40 – 60% correction over a period of 3-4 years from the crash starting date ..

Thanks Garth for this blog – it helps me to fight back all the pressure I am getting from my peers, parents and friends.. of course I would love to own a house , but I also don’t want to be a salve of debt ..
My wife and you are the only 2 last ppl supporting me in this battle that no one knows how long it will last .. pls keep posting ..

#33 Delusional!? on 06.20.14 at 10:08 am

“we come here every day, snipe and bitch at each other…try to sound way richer or macho than we are”

You definitely got that right..you just proved your point with all these posters and their made up income.

#34 Flayto on 06.20.14 at 10:08 am

a) Own
b) $90,000
c) 38
d) Prices in Guelph will stagnate for next 3-5 years

#35 Bloodcross on 06.20.14 at 10:12 am

As for the high income reported income, it is surprising but when you think about it, it makes sense. How many people with no money are really interested in econoblogs… I read NYT’s Krugman too. People interested in those subjects are more likely educated and thus more likely to be wealthy. In retrospect, expecting that the readership would be a representative vertical slice of society was probably more naive than actually believing the income data being reported here.

#36 Mike on 06.20.14 at 10:13 am

a) own
b) 100k
c) 54
d) doesn’t matter; following for entertainment purposes :)

#37 H on 06.20.14 at 10:13 am

a) own (no mortgage)
b) 150k combined
c) both 36
d) slow melt has already started here in Whistler. Houses seem to be selling but are going for less than asking price. Melt 10-20% over then next year or two before the herd starts to panic then crash another 20-30%.

#38 Mortgageless mortgage professional on 06.20.14 at 10:15 am

a) Rent (lowly basement dweller)
b) $130k
c) 37/37
d) 30% correction Toronto/Vancouver Condos and niche properties by mid 2015 and 15% correction for everyone else.

Hoping you do a speaking tour Garth!

#39 twom83 on 06.20.14 at 10:15 am

A) Rent ($1500 – Little Italy)
B) $150K (mine & gf)
C) 31
D) Slow long term correction in SFH value (10ish years – 15 – 20%). Condo crash 30% within the next 5 years.

#40 Statistics Canada on 06.20.14 at 10:16 am

On behalf of the Government, we at Stats (as we call it) Canada would like to thank you all, especially you Mr. Turner, for the invaluable information regarding employment and incomes from average Canadians on this wonderful site. We have an intern crunching the numbers as we speak and we can tell you all that these numbers will certainly make a difference in future forecasting and policy decisions from your New Government of Canada. Again, thank you. This is much easier than checking all those Kijiji sites, and far more accurate.

#41 MC on 06.20.14 at 10:17 am

A) Own (condo in Vancouver since ’07)
B) $130,000 per year (combined)
C) 41 and 45
D) 10 – 20% correction

#42 CMoney on 06.20.14 at 10:18 am

30 year old independent financial advisor.
I rent in Ottawa.
Income around $100K annually. Investment portfolio of $150K.
Real estate is overvalued but severity of corrections are hard to predict. I see no growth from now over the next decade.

#43 Pounding sand in Peachland on 06.20.14 at 10:22 am

I’m a dog owner

#44 Grantmi on 06.20.14 at 10:25 am

USA housing market starting to hit the pooper!!

Housing Market Falters Amid Rising Prices, Lower-Paying Jobs – Bloomberg http://bloom.bg/1lFaqCd

#45 Ret on 06.20.14 at 10:27 am

a) Own (clear) just west of GTA, $335,000 approx.
b) $120,000
c) 62/62
d) Want to upgrade but don’t want to get smoked for $100K in after tax dollars when prices drop. Prices will drop with interest rate increases and/or CHMC lending guarantee changes.

Canadians and their governments appear to be totally focused on sowing the debt seeds of their own destruction. Party on Canada!

#46 YYC on 06.20.14 at 10:27 am

a. Rent
b. Single – $91,000
c. 34
d. no change in Calgary short term, people just don’t get it.

#47 Dwight on 06.20.14 at 10:28 am

Prices for real estate in the Okanagan will continue to slide as they have been for the past four years.

#48 Young grassturner on 06.20.14 at 10:38 am

A) Rent (combined = 1,300/month)
B) Personal = 45,000 Combined = 115,000
C) I’m 25 she’s 24
D) I really don’t think I can predict RE with any accuracy however if I had to guess I’d say 30% decline. I do not think it will be a soft landing. Markets don’t have soft landings, generally they crash.

I look at it from a risk reward perspective. Sure prices could rise and I could miss out on appreciation of 5 – 10% in Red Deer area. But a 30% decline is possible, who knows maybe a 50% decline. A Risk of 5 or 3 to a Reward of 1 (RR = 5:1, 3:1) is a sure fire way to lose money time and time again.

I will continue to put 50% of my income into a range of equities with a more favourable risk reward ratio and the added liquidity should I wish to bail and be in cash.

#49 Keith in Calgary on 06.20.14 at 10:39 am

1 – RENT in Canada and own in Brasil

2 – Combined incomes inc investments $268K

3 – 54 and 49

4 – RE in Canada will flatline and then slowly decline for a decade at least, losing 30% or more over time. It won’t be 25-30 years before we see another “boom” as the demographics and the simple math prove it’s over.

#50 Sebee on 06.20.14 at 10:40 am

Impressive reader data sample, probably reasonably accurate. And all you have to do is ask nicely. Who would think it? Anytime I get a call asking to participate in a survey, I can’t hang up quickly enough.

#51 Calgary on 06.20.14 at 10:41 am

a) Rent in Calgary ($1200/month utilities included)
b) ~$220,000
c) 32
d) No clue, (to much manipulation in the markets) but all I know is that my precious metals will be worth a lot more than housing over the next few years.

#52 KrisA on 06.20.14 at 10:42 am

a) own
b) $100000
c) 37
d) I’m on ‘crash alert’ in Regina, 40% wouldn’t surprise me

#53 BillyBob on 06.20.14 at 10:43 am

1. Rent
2. $216,000CAD net (overseas untaxed jurisdiction)
3. 44
4. 20-30% across the board with highest losses in speculative markets

Been following this forum for a couple of years now and even though I could “afford” a house in Canada, wouldn’t touch it as it doesn’t represent good value. At all. Canada is the laughing stock of the world in RE.

#54 20something on 06.20.14 at 10:45 am

a) rent
b) approx. $130k (based on two incomes)
c) 27
d) I think that (at least in the GTA) home prices will likely increase over the next 2-3 years but will flat-line and then decline after this. Maybe 20% depending on the area.

#55 D32 on 06.20.14 at 10:47 am

a) Rent in Vancouver
b) 155,000 dink income (65k + 90k)
c) 47k in student loans (originally 120k) still paying off
d) 33 / 33
e) I’m hoping there will be a 15-20% correction in 604, but wouldn’t be surprised if nothing happens in the next 5 years

#56 sm_yyc on 06.20.14 at 10:49 am

d)no change – 10% correction

keep up the good work Garth; your financial tips saved the day for me.

How is your recovery?

#57 MH on 06.20.14 at 10:49 am

a) rent
b) $65,000, by myself
c) 27
d) I live in downtown Toronto. I think the house prices are ridiculous, and should decline by at least 20%. No one my age can afford a house (even as a couple)

#58 S on 06.20.14 at 10:51 am

Holy cow, I need to start paying myself more.

#59 Bdy sktrn on 06.20.14 at 10:52 am

#517 lala on 06.20.14 at 8:35 am
B. 44, wife ***29 ***

Can I borrow your wife?

#60 japan on 06.20.14 at 10:54 am

This is my first comment on this blog. I visit only 2 blogs every day, this is one of those.

I rent.
I make about $90k/year.
I am 41 year old.
I think prices will be higher.

This is a great idea – doing this survey. This allows me to know what kind of company I have.

#61 Meck on 06.20.14 at 11:03 am

A. Own, with a $150,000 mortgage
B. $97K
C. 50
D. Goes down to 2009 levels (at least Toronto & Vancouver will)

#62 JD on 06.20.14 at 11:03 am

Rent – Toronto

#63 treetoad, CFA on 06.20.14 at 11:04 am

All right, I’ll come out of lurk mode. Once.

a) own
b) varies: $400-600k, fair bit higher some years
c) 43
d) bubbles tend to mean revert, so back to LT price/income and price/rent seems reasonable. We’re stuck in the 2000’s Southern European zone; importing someone else’s monetary policy. That generally doesn’t end well.

Also, Garth: you occasionally make a comment about a recession derailing housing prices. Causality seems to strongly run the other way. See (for example) Ed Leamer’s 2007 Jackson Hole paper “Housing and the Business Cycle”.

Enjoy the site, by the way. Bit like Patrick.net was in 2005-07 pre the US mess.

Back to lurking.

#64 Bdy sktrn on 06.20.14 at 11:07 am

With the high earners here RE will double over next 7yrs

What I want to know is what the bigshots are doing for work. I thought we were way ahead of the crowd but the crowd is doing well.

As the best way to accumulated wealth is to make more cash, in the interest of all lesser dogs, please share your type of work if you are over 250k. Or even more interesting are the pups making large coin.

If you are 35 or under and have personal income over 100k and are not a doctor PLEASE tell us how you do it.

Our answers
1 own house and camp, no mtge
2 200k (one earner)
3 47,46,13
4 demand areas uppa 50 over next 5yrs

#65 Joe2.0 on 06.20.14 at 11:11 am

#516 Old Man

Gold digger.

#66 blanderson on 06.20.14 at 11:11 am

a) Rent in Toronto ($1475/month)
b) 135K
c) 31
d) 30% drop

Garth, I read every day, though this is my first comment. I have enjoyed reading these comments, but maybe it would be worth setting up an actual survey (https://www.surveymonkey.com/?ut_source=header), so we better understand/see the demographics

#67 Adam M on 06.20.14 at 11:11 am

Rent a large house with roommates in a nice location of Calgary for 350$ a month

Make 70,000$ as a software developer. 10,000$ in a balanced ETF TFSA.

23 years old

Waiting for a correction like a vulture. People my age are horny and think it’s their life quest to own. I’m saving crazy amounts of money renting with roommates. Building a down payment for however long it takes.

Huge fan of your blog. Apologies for being one of the 99% that doesn’t comment. Like you, the regulars scare me. Don’t die just yet, I’ve got a house to buy in the coming decade.

(a) rent or own, (b) family income, (c) age and (d) your outlook for real estate over the next one or two years.

#68 Margaret on 06.20.14 at 11:14 am

Rent – Edmonton
54 yrs old
Household 190K
30% Correction
Have noticed in the last 3 weeks rentals available here are way up; wonder if stuff isn’t selling like the Edmonton Journal claims? (smirk)

#69 Nuke on 06.20.14 at 11:15 am

a) rent public housing townhouse
b) $180k family earned semi retired (not including investment income)
c) 56
d) 20% or more based on return to norm

#70 LotusLand on 06.20.14 at 11:20 am

A) Own, of sorts. Partner and I live in a loft in Vancouver purchased for him by his parents.
B) Same-sex partners, no children. $180K
C) Both 29
D) In Vancouver, maybe 5-10% correction. I’m assuming stagnation rather than a correction.

One of us has a student loan of $19K. Other than that, no debt. We invest in the market. We’d like a bigger place but don’t feel like there is much potential growth in housing as an “asset”… Better returns in the market.

#71 MarcFromOttawa on 06.20.14 at 11:20 am

1) own. looking to sell and rent
2) 55K
3) 28
4) flat nominally and negative real (either inflation picks up or C$ goes down further)

#72 Joe2.0 on 06.20.14 at 11:21 am

Smoking Man

Where can you make that amount of money making licence plates?

#73 Sam on 06.20.14 at 11:26 am

First time poster.
a) Rent (owned before)
b)Married. Single income 200k
d)30-50% drop coming

#74 David Hawke on 06.20.14 at 11:28 am

Canadian X-pat living in El Salvador
Heard about the Greater Fool one day at my guest house in Phnom Penh while talking to another X-pat from COTU who was on a visa run from Bangkok.

Bought a house in the GTA in 1976 sold to son in 2000 with down-stroke from bank of dad, bought a cheap commercial lot a mile north of the GTA boundary and built a shop for my business with an (illegal) apartment above the office.

Sold in 2008, travelled for 2 yrs then bought my present house near the beach in the tropics for cash.

a) own
b) enough
c) 65+
d) 30% adjustment if Justin gets in in 2015, 50+% CRASH if Herr Harper miraculously gets back in

Read the blog to reaffirm I made a smart move leaving Canada!

#75 Rabbitt One on 06.20.14 at 11:32 am

1): Rent $3,300, own 2 X 1BR condo

2)1: I used to make $65,000 + incentive at retail bank branch – like for 15 years, my initial salary in 1991 was @ $24,500.
I know branch managers barely make $100,000.

Recently moved to 100% commission position, have own long term clients and business sponsors, making around $340,000 gross.
I feel myself this is very high income, considering my bad English skills, immigrant from Asian country came in 1990. Canada is very generous for newcomers.
I am in this high income position for last 3 years and feel my job is stable for at least for next 5 years.

My spouse at Union office makes $74,000 after 20 years+ service, semi-management position.

3): 49

4): at least 20% correction

#76 dosouth on 06.20.14 at 11:33 am

Isn’t this one of your local companies now setting up their wares in the states before Canadas market collapses? I could be wrong about Mattamy….

Canada buys up US

#77 renters rule on 06.20.14 at 11:33 am

rent (have owned in the past0
RE correction: crash, then revert to long term trend (inflation + a couple of points per yr). Van: decline 10-15% next 2 years, yrs 3-5 after that, another 10-20% decline; and then a loooooong swoon after that.

#78 ducker on 06.20.14 at 11:34 am

a) rent. in manhattan. painful, but we hate to commute. Lived in Toronto until recently, also rented.
b) $240k between the two of us. Cut off 30% in your head to account for the fact that people in America bleed money for all sorts of things Canadians don’t have to pay for.
c) 34
d) there is no “Canadian Economy”. Different parts of the country crash at different times according to their respective industries. If you happen to be locked into a big mortgage when your part of the country decides to bust, you will hurt more than if you can pick up and leave.

#79 calgaryPhantom on 06.20.14 at 11:40 am

1- rent ( 7 years and counting)
2- thank you God for what I earn.
3- 30
4- +/- 5 % for next 10 years.

#80 E K on 06.20.14 at 11:40 am

(a) rent or own, (b) family income, (c) age and (d) your outlook for real estate over the next one or two years.

a) Rent
b) 36,000
c) 30
d) 15% drop

#81 SwampLily on 06.20.14 at 11:41 am

a) rent
b) $130K (zero debt + healthy savings & investments)
c) 55
d) 30% correction (40% in Victoria BC)

#82 Ottawan on 06.20.14 at 11:43 am

Sure, I’ll bite.

A) Rent the main floor of a house
B) $108k family income
C) Ages 31 and 27
D) In Ottawa: 20% drop over a couple years, followed by ~0% gains until rent and incomes catch up.

#83 MC on 06.20.14 at 11:44 am

a)Rent EDMN – Sold EDMN condo (4yrs ago), Sold Calgary home(finalizing this month), plan to continue to rent at this time.
b)120k family
d)I think 5-20% if only 1-2 years but will be dependent on condition and neighbourhoods primarily. I think the new burbs will be hit hard whereas more well established nice neighborhoods near central will keep stable somewhat. These are my thoughts for Edmonton and Calgary though. However 2 biggest factors here I think are if interest rates spike prices or the oil economy crashes, then I think would lower quite a bit more then that.

#84 DJG on 06.20.14 at 11:44 am

Own – Toronto
Household income: $410k
Age: 39 (me) / 38 (spouse)
Prediction: Modest correction in central urban areas, with fall in C$ disguising most of the fall; steeper decline in godforsaken outlying areas of GTA.

#85 Software Guy on 06.20.14 at 11:47 am

a). rent
b). 550K
c). 31
d). 30% over 5-8 years

#86 JunkieMan on 06.20.14 at 11:51 am

a Own (Florida) rent Toronto

b 45000-75000 depending if I actually work or just travel

c 28

d Crash- 30-40 percent

#87 CommentVirgin on 06.20.14 at 11:51 am

(a) Co-Own with brother
(b) Household income $260K (brother+girlfriend)
(c) 33
(d) slow melt of 20-30%

#88 Alex n Calgary on 06.20.14 at 11:55 am

ack! I hate talking about money but if it helps

A) Rent
B) 145k between two of us
D) Calgary, 2yrs reduction in prices starting, god willing! they’re holding on by their teeth right now on any property over 400k

#89 nh on 06.20.14 at 11:56 am

a) rent, spent a year looking to buy to start a family and outgrowing current shoebox
b) ~175K
c) mid-thirties
d) been waiting for a correction for years, don’t see it happening in next two years

#90 RF on 06.20.14 at 11:58 am

A) Rent
B) $90K – single
C) 43
D) Vancouver correct the most 30-40%
Calgary 25% (due to lower overall housing cost)
Toronto 25-30% (larger population)

#91 Adriana Lima on 06.20.14 at 12:05 pm

Lol lots of liars! Is everybody here doctors? Or lawyers maybe dentists? The only guy I know that makes a lot of money is my father in law ( plastic surgeon).
Anyway, i gotta go, somebody here needs to work!

#92 to_be_frank on 06.20.14 at 12:05 pm

(a) Own
(b) Married – $130K
(c) 57
(d) Tossup 10% or 30%. I’ll say 10% over 2 years but probably more later when interest rates normalize.

#93 Guy1 on 06.20.14 at 12:07 pm

For the record, I doubt stated incomes are inflated. Those are the people attracted to this blog.
Own (70% mortgage)
Predicting 2 year outlook is impossible but the risk of both a crash 30% and a long term decline is high.

#94 GsAmazon on 06.20.14 at 12:19 pm

a) Rent
b) $88,888 – G makes enough to support 1 Amazon artist + all accompanying flora and fauna ;) – no small task in these facepalm-ing times !
c) Early 30s
d) hmmm, what would smoking man do? Okay, I’ll hazard a guess – here in TO best case 15% houses 30% condos, worst case 30% houses 60% condos, taking way more than one or two years to revert to the mean. But really, es ist mir egal…i’m a virgin.

I read this blog every day for sanity, levity, and financial news/advice. In that order. Arf-arf.

#95 Sask_guy35 on 06.20.14 at 12:22 pm

a) Own with $190k owing
b) $160k
c) 38 married with 2 kids
d) 20%-30% correction. I thought it would happen between 2012 and 2016.

#96 Skiffy on 06.20.14 at 12:23 pm

(a) rent in Toronto
(b) $85K Common law couple(Partner just finished school so should grow soon)
(c) 29
(d) 10-15% drop followed by stagnation

#97 Thornado on 06.20.14 at 12:23 pm

a) Rent.
b) $105k between the two of us (gross).
c) 28
d) Most of Canada is due for a real estate correction in the next couple of years.

#98 ServiceIndustry on 06.20.14 at 12:26 pm

a) rent in Edmonton
b) 40,000
d) there will be a correction of various degrees in different markets, by my numbers of about 20-50%, but not until 2016 or so. I’m here for the investment advise anyways. Real estate is in casino territory, and the house ( 100 year mean) will eventually win.

#99 Ogopogo on 06.20.14 at 12:27 pm

(a) rent (of course!),
(b) family income: low 6 figures,
(c) age: late 30s
(d) your outlook for real estate over the next one or two years: continued depreciation in the Okanagan and more lies and manipulation by realtors (just look at Devil’s Advocate’s shrill ramblings)

#100 Cici on 06.20.14 at 12:28 pm

#196 Financial Freedom at 40

We also know that he both rents and owns, is a mega-hunk with a flock of adoring Amazons, makes a ton of cash making a ton of cash for the luckier among us (but not me…YET), is married to the most foxxy Amazon of the flock, Dorothy, and rides around in airplanes a lot when he’s not on his Harley, hanging out with his dogs and usBlog Dawgs…or injuring vital joints.

#101 wetcoast on 06.20.14 at 12:28 pm

a) rent
b) $110k with stay-at-home wife and 2 kids
c) 40
d) -40% here in YVR

Sad that people making decent money cannot afford a modest home in the city here.

#102 Gordon on 06.20.14 at 12:30 pm

Rent for past 2 years (owned 20 years previous to that)
85k (retired)
Guessing home prices will flat line or slowly melt to long term average

#103 Fix or Fall on 06.20.14 at 12:31 pm

Here’s my Greaterfool short form census

a) Rent (Toronto area)
b) 70K
c) 30
d) In 2 years: drop of -10% in Toronto. My guess is the road down will look a lot like the road up. There’s no way owners’ egos are going to let them part with the paper gains they think their home has earned. At least not all at once. Condos may be a different story. Too many view these glass boxes as investments. If they think their shares in the sky are falling we might have plenty of panic selling.

After seeing the incomes here it clearly doesn’t look like becoming a “professional” has paid off. My first inclination is to give up and go down the hippie road. Bring on the pot brownies and drum circle.

#104 cowtown cowboy on 06.20.14 at 12:32 pm

1. Own

2. Approx. $250k(salaries + corp income)

3. 45

4. Flat or +/- 5%

#105 Cici on 06.20.14 at 12:34 pm


Thanks for this idea; really interesting to learn about fellow Blog Dawgs and read their opinions!

Thanks also for not turning this into a stupid, boring and anonymous survey form, which would probably skew the results and water them down, making them less interesting.

#106 Aj on 06.20.14 at 12:35 pm

A) neither – still living at home
B) 65K
C) 28
D) Business plans crapped out (Thanks Wynne among others). Still waiting for correction in ottawa. Expecting 3-5% reduction tops but hoping for 10-15%

#107 David on 06.20.14 at 12:37 pm

A) own
B) $200k
C) 38
D) slow decline.. 10% over next two years (a few years late!)

#108 Shawn on 06.20.14 at 12:37 pm

People Want to Brag

Smoking Man at 291 absolutely nailed it. Apparently people can’t wait to brag, but do wait for an official invitation to do so.

I would join the fun, but then I already have many times and never waited for the invitation.

#109 Jeff on 06.20.14 at 12:38 pm

(a) Rent
(b) 85 k
(c) 35
(d) -20 %

#110 Dean on 06.20.14 at 12:38 pm

a) Own (in Vancouver, oh god)
b) Single with 100k salary
c) 33
d) Impending 20% haircut

#111 Lagavulin on 06.20.14 at 12:39 pm

a) Rent for $1750 not including utilities, Downtown Toronto (sigh)
b) $130 K
c) 27
d) Hoping for 25-30% crash in TO condo prices but don’t think it’s going to be that drastic. Everyone wants a pie in the sky. Expecting 10-15% within 2 years.

#112 Van Coffee on 06.20.14 at 12:47 pm

A. rent. $4,500 in Vancouver. 2.5 million SFH
B. 450 – 500K between the two of us depending on bonuses. 450 is the base.
C. 36 & 36 & 2 & 4 (2 & 4 year old need to start contributing a little more ….)
D. Total Free Fall. When people like me aren’t buying, what is supporting the top-end?

#113 Musty Basement Dweller on 06.20.14 at 12:47 pm

a) rent. loving it. used to live on vancouver island. now in vancouver, montreal, and colombia. making much more money from investments instead of being burdened by housing and loving it.
b) $170k
c) 57
d) 30% drop over 3-4 years is a no brainer

#114 J_Dub on 06.20.14 at 12:50 pm

A) Rent (in Toronto), own rental property (via LOC) in USA
B) 150K ish
C)33, 29
D) In the next 3 years there will be a 20-30% drop in suburban areas and 15-25% urban ones. Again this all depends on if there is no other major economic shocks or slowdown. Coupled that with how the CMHC is positioning itself for the inevitable and what the big Owe isn’t presently doing but may be forced to do.

Joe Oliver says housing market needs no intervention

IMF warns on house prices in Canada and elsewhere

#115 rc on 06.20.14 at 12:50 pm

1) rent
2) 200k +
3) 26
4) will not be buying in the near future thats for sure

#116 sammy on 06.20.14 at 12:55 pm

Prozac Poloz still high on screwing Canadians even in the face of facts that prices are skyrocketing. Hey …douchebag….get your foot of the brake before more Canadians go hungry !!!! We don’t produce enough food in this country and have to import a majority of our consumer products…..your union buddies don’t give a crap…but how about all the families who are sending their kids to bed hungry…don’t they vote?


Harper…you need to juice the revenues with resource exports……drive the antiquated unions into other endeavours….like oil field jobs…….the dollar should be on par with the pound….not the Malaysian Ringitt.

#117 What about CMHC? on 06.20.14 at 12:55 pm

a – own (no mortgage)
b – 150k
c – 48
d – 50% drop in Cowtown – in last 10 years it has gone up 100% (thanks to CMHC, Carney, F, Realtors, Brokers, [email protected]….) here so it will need to drop only 50% to get back to that level. YaaaHoooo (stampede is just around the corner)!

#118 D.D. Corkum on 06.20.14 at 12:56 pm

So far the word ‘Rent’ appears in the comments 471 times, and ‘Own’ appears 486 times.

Maybe I’ll put together a little script that parses all the comments to pump out the statistics.

For myself:
A) Rent, but will own starting in a month
B) Married, approaching 100K
C) 27
D) Prices will keep increasing for another year (unfortunately), but the long term trend will reverse once rates rise. When it happens will depend on the USA.

#119 devore on 06.20.14 at 1:04 pm

#291 Smoking Man

Wow, you’re such a rebel!

#120 The American on 06.20.14 at 1:04 pm

1) Own in: Seattle, WA, Bend, OR, Orlando, FL, and Malaga, Spain. Bought at the “bottom” in each of those markets, after watching them distentigrate on average of 36% collectively. Only have monthly payments on the place in Seattle.
2) $ I make enough
3) 38 years old
4) Real estate is local to it’s market and also subject to regulatory changes happening within each country, specific to trasnparency to information and lending policies. For Canada, there will be a 17% decline in prices over two years, and nearly 30% within four years.

#121 Sue in YYC on 06.20.14 at 1:06 pm

Well ok since we are all sharing! Very interesting…
Own multiple prop, bought before 2003. No debt, residence worth the second least of all properties.
~200000 household
Late forties
Thought 20 to 30 % decline, and higher interest rates 5 years ago! And now after reading all the comments about everyone hoping to buy after the crash, prob flat until interest rates go up,but dont think thats gonna happen anytime soon. Been in AB long enough to know a bust WILL happen, hoping im young enough to sell in the next boom! Dont want it all in stock market or banks thats why i keep. Getting parents ready to sell.

#122 armpit on 06.20.14 at 1:08 pm

As the herd follows, Garth….did you answer your census?

#123 Paul W on 06.20.14 at 1:14 pm

own 100 %
Can’t see how it will work out well for everyone

#124 Old Man on 06.20.14 at 1:23 pm

#641 Adriana Lima – I agree with you 100% and yes a plastic surgeon rakes in $millions because he sets his own fee structure and cleans up. Well at least my posting was an honest one as have nothing to brag about with my modest monthly budget.

#125 Retired WI Boomer on 06.20.14 at 1:27 pm

WOW fascinating results! Everybody’s situation is different, and everybody’s RE prognostications ARE different. WE can’t be all correct, but we will ALL get to see what the future beholds.

Garth, good idea, great responses.

Hope the info provides some insights into ‘who, what, why, where’ the blog dogs are composed (or composted) of. Fun idea

#126 MoistVirgin on 06.20.14 at 1:28 pm

A) Parents’ Basement
B) 65k
C) 23
D) 20% correction over 2-3 years

#127 Smoking Man on 06.20.14 at 1:29 pm

#622 Joe2.0 on 06.20.14 at 11:21 am

Smoking Man

Where can you make that amount of money making licence plates?

You sell a house and cottage, then put it all on a bet that the markets hit bottom, Feb 2009.one month into the rally, you go full out margin while in a drunken stupor … Then in April 2011 when you see a solid batman you exit…..

Event a text inscription tool that’s ready for market, just as Snowden goes public…

Have interests in small growing private companies.

The tax farm gig is only for casino loot and keeps me off the bottle.. During the day.

#128 Ryan the Thirtysomething on 06.20.14 at 1:34 pm

a) happy renter
b) 100k household
c) 33
d) No idea anymore. I thought the RE gasbag would have deflated long ago, but Canadians continue to amaze me in their dedication to pile on more and more debt.

#129 RM on 06.20.14 at 1:38 pm

a) own (virgin)
b) $100,000 single income family
c) 32
d) 10-15% correction in greater Montreal.

#130 lala on 06.20.14 at 1:39 pm

Interesting, blog dogs are married to same age wife’s, what’s is wrong with you guys,
don’t you like fresh meet!!!

#131 Dustypancakes on 06.20.14 at 1:46 pm

(a) own (b) 80k (c) 24 (d) it is different in ottawa

#132 Fluorine on 06.20.14 at 1:48 pm

1) Own 2. Rent one out. Wife won’t let me sell either one.
2) 100K
3) 39
4) 20% correction. Hopefully not too bad in Alberta.

#133 S Surette on 06.20.14 at 1:49 pm

1. Own – condo , vancouver
2. 80k
3. 46
4. 25% correction

#134 Holy Crap Wheres The Tylenol on 06.20.14 at 2:12 pm

(a) own X 2
(b) family income, $215 K income $35K expenses combined with signicant other $335K
(c) age 64
(d) real estate over next 1-2 years. Canada flat then down 15-18% USA Flat to increasing 2-5%.

#135 Getting out of Dodge... on 06.20.14 at 2:17 pm

Owned SFH, cottage and mexican casa. Just sold the SFH and will be living in the cottage/casa going forward.

Used to make $200,000 (couple), voluntarily reduced to $100,000 in the past year (working much less these days)

56 and 53

Total crapshoot!

#136 y m o 2 on 06.20.14 at 2:22 pm

dual specialist MDs
took forever but finally starting to accumulate dollars

#137 TheCatFoodLady on 06.20.14 at 2:26 pm

#680 – lala: Why would the wives want someone older? We like our meat before its, (relative), best buy date too.

#138 cat luver on 06.20.14 at 2:26 pm

a) have always rented (Toronto, 2 min from subway, super affordable)
b) $50k avg now, self employed
c) 57
d) inevitable correction, more quickly and sharply for condos

Thanks to your sage advice over the years that I’ve been following this blog, and that I’ve read in your excellent book Money Road and elsewhere, I’ve recently moved my investments from one of the big banks to a discount broker. All very empowering.

#139 Holy Crap Wheres The Tylenol on 06.20.14 at 2:36 pm

#677 Smoking Man on 06.20.14 at 1:29 pm
#622 Joe2.0 on 06.20.14 at 11:21 am

Smoking Man
Where can you make that amount of money making licence plates?
………………………………. …….

You sell a house and cottage, then put it all on a bet that the markets hit bottom, Feb 2009.one month into the rally, you go full out margin while in a drunken stupor … Then in April 2011 when you see a solid batman you exit…..

Event a text inscription tool that’s ready for market, just as Snowden goes public…
Have interests in small growing private companies.
The tax farm gig is only for casino loot and keeps me off the bottle.. During the day.

Jesus Christ Smoking Man Ive been to a Casino once and blew $100, released I can take that $100 and make it turn into $200, then $300 ………….. and so on. Why not just get dry and keep the daily money for more investments? You could retire a millionaire with trophy wife number one and trophy wife number two dangling from your side?

#140 xnexus on 06.20.14 at 2:37 pm

1) Own – Vancouver townhouse
2) 250K (combined income)
3) 40
4) As Garth has said in the past, a 15-20% slow melt over the next few years.

#141 My Life is a Pile of Shit on 06.20.14 at 2:37 pm

Statistically, 99% of Canadian households earn less than $100k per year. The median annual income for BC households is only $69k. Yet virtually the entire readership of this blog earns more than $100k per year (based on this survey). That implies this blog is read only by the top 1% income earners of the population. The average reader is 30 years old, earns more than $100k per year (at least $200k per household), and rents a house, maybe a basement, maybe with roommates. Should this blog be written for the average Canadian or for the financial elite? I, for one, will see this blog as less relevant, now that I know it must be geared toward the top 1%. After all, numbers don’t lie, do they?

Silly POS. This blog is just geared toward me. — Garth

#142 Jenn on 06.20.14 at 2:38 pm

So now you can see that it isn’t the immigrants are hiking up the prices after all!! We long timers are doing very well. Just a thought….does anyone think that these wages might be the reason why costs are out of control? I feel the pain of someone making the “Stats Can average. I know we would have a tough time on the roughly 70,000/yr family income. OMG!!

Anyhow, for all those who having a pity party…don’t !!
For our piece of the pie we had to give up a lot and work a whole lot more. We didn’t just rise to the top. We fought for every inch and I am seriously exhausted!

#143 Old Man on 06.20.14 at 2:40 pm

#686 Getting out of Dodge – have you ever rented out your casa (house) for just one day in the past? SAT will be checking up on you – good luck!

#144 Asher on 06.20.14 at 2:41 pm

(a) Rent
(b) 33 and 34, both working
(c) $150K + bonus
(d) Most of Canada – will stagnate or continue very slow decline
Toronto, Van, Calgary – Will continue to rise through 2015. Then will start decline in later 2015. Will drop max 15 to 20% in T.O. and Vancouver.

#145 vip_begger on 06.20.14 at 2:43 pm

1) Own house

#146 Brysonic on 06.20.14 at 2:43 pm

a) Own (Vancouver)
b) $275 k
c) 47
d) 10% correction for Vancouver, 20% nationwide

#147 chillysun on 06.20.14 at 2:44 pm

1) Rent apartment in Montreal
2) My income 220000$ before taxes….
4) around 30% which will cream the middle class…

#148 Hawk on 06.20.14 at 2:50 pm

#530 Joe on 06.20.14 at 8:48 am


I would rather think most of the people here are not representative of average people in Canada, maybe this blog attracts the “1%” crowd more.

Certainly average income even in Toronto is nothing like what people here make.

#149 CrispyKdizz on 06.20.14 at 3:00 pm

Own a 44 year old Condo.
Engaged: 30 & 34.

The Alberta economy won’t waiver for a couple years (hopeful). Correction: modest 5%/year for 5 years. Likely more (25-30%) in that 5th year. Calgary will be hit last, because we’re just THAT special.

We were hit with Garth’s predicted assessments: last year $12,000 and the year before $8,000. All for “underground water treatment and electrical” – upgrades we’ll never literally see, but apparently “enhance the quality of our investment”. All I’ve see is the poor sap with a torn up yard and back hoe permanently parked out his front door for the last three months; at least he’s a renter!

It took the better part of this year to convince my in-laws why I won’t sell to “move-up” turning our equity into debt: mortgage-free by 40.

Keep writing your good words, Garth. I’ll keep standing up to those Boomers and relentlessly talking my friends out of buying in the next 5 years.

#150 Fortune500 on 06.20.14 at 3:01 pm

As always, I am sure there is some exaggeration going on here due to the anonymous nature of this forum, and of course, the higher incomes could be a result of those earners being more willing to step up and share their digits. But with that being said, you cannot help but wonder whether or not this site has attracted more readers who actually do their homework, and who actually have the cash to justify paying for real estate.

If you are low income there is often a reason for this (lack of education, lack of drive, lack on interest in research and doing due diligence, etc.). I come from a poor family situation, so do not think that I am being snide. It just makes me wonder whether Garth attracts a more financially literate, or at least financially aware crowd than the MSM does with their CREA press releases.

The median household income for Canada is $76,000. Garth’s readers appear to be a different group. At least those willing to post.

#151 lionsroarin64 on 06.20.14 at 3:04 pm

A. Own (just paid ‘er off – 2-bedrm condo 1/2 block from Stanley Park – carry me out in a box).
B. Income: 72K (man I feel like a pauper compared to a lot of u).
C. Age: 50.
D. Crystal ball: 25% correction for Vancouver – can’t say ’bout elsewhere.

#152 Mak the investor on 06.20.14 at 3:06 pm

a: rent
b: 120k
c. 40
d. Flat. to 5% down But there would substantial inflation. Eventually inflation would catch up with real estate. When I say inflation, I mean the weekly grocery bill and Not the metrics that is published.

#153 Findizzle on 06.20.14 at 3:06 pm

a) Rent (Calgary)
b) $80k single
c) 23
d) 15% correction

#154 rico suave on 06.20.14 at 3:06 pm

A) rent in Toronto
B) $325k + bonus
C) 26
D) who knows

#155 countrymusicfan on 06.20.14 at 3:14 pm

Rent in Toronto, own small farm acreage

79K + 55K

45 both of us

We see Toronto down 5% soon – 120 days, end of fall market will be the swan song. Then another 25% down by 2017

In the country is where we see real pain already. Rural and cottage properties near ours are not selling at all.

Anyone with a cottage that they have to sell, get ready for a 50% haircut FAST, by 2016.

#156 Albert_bound on 06.20.14 at 3:17 pm

a) rent
b) 0$….I’m an engineering student
d)20% in the big markets (Van, TO, Cal,). And I think the correction has already begun in the smaller markets, ( Kelowna, Victoria….etc.) bottom out around same point I’m guessing….

#157 JR on 06.20.14 at 3:17 pm

Rico Suave, what’s your job?

#158 Calgary Rip Off on 06.20.14 at 3:18 pm

1)Own a mortgage. The bank owns the property. That’s reality. You dont own unless its paid. Period. That commercial “homeowners helping homeowners.” Right. What a joke.

2)$140K/year and rising.

3) Age: Not telling. The internet was designed by the department of defense for data tracking. Think about that if you have facebook or any other nonsense. Big brother is watching. My soul is immortal and saved.

4) If you can afford to own a mortgage, get one. Rents are a ripoff in Calgary and worse than mortgages. Unless you are gonna retire in 5-8 years or want to be portable, get one, cause prices keep goin up as awful as it is. And interest rates are low. Expect to be ripped off for housing, buy rent or own. Its all bs.

#159 leaveyouregoatthedoor on 06.20.14 at 3:26 pm

“The median household income for Canada is $76,000. Garth’s readers appear to be a different group. At least those willing to post.”

Was there ever any doubt?

I am impressed at the number of 200k+ blog readers but not to the point of calling everyone a liar; my old high school friends earning less than 50k would never, ever, ever, read a blog like this.

Those who think every income is a massive exaggeration should look in the mirror, 65k each x2 people isn’t an exotic elite lifestyle; 130k / yr gross, who cares?

#160 Uh Oh Canada on 06.20.14 at 3:27 pm

Wow, I am among the 1%- only happens in a pathetic blog. I guess a good 80% of salaries here are true because an investment blog would attract readers with money.

1) rent a townhouse, never owned

2) self employed last year was 90k, one income family
50k in investments

3) 35

4) Real estate has already declined here by about 10%, I’d say. Self employed friends with businesses related to housing are seeing less business this year, so I believe the drop begins as of now and will be notable by 2015-16.

#161 Anthony on 06.20.14 at 3:27 pm

Immigrated to Canada(Toronto) 14 years back, from India, with $10,000 to my name a wife and a one-year old kid
Today my networth is $350K (not incl my fully paid condo of $250K), The reason I don’t live in a house, is b’coz I want to live in Toronto and I can’t afford it. Although the bank think I can, I think the banks and the real estate agents are scamming people and hence I love reading this blog

#162 GTA Engineer on 06.20.14 at 3:27 pm

Already replied under an alias. Over 700 comments?? And sheesh what a lop-sided sampling of the ladder we have here. A good 75%+ of the responses appear to be from the top-10%’ers.. I guess my bartender doesn’t read these types of things?

#163 London ON Man on 06.20.14 at 3:30 pm

a) Own in depressed (and depressing) Southwestern Ontario
b) $180k
c) 50
d) For major markets, Next 1-2 years = rise of 10%. Next 5 years = 40% haircut. For crappy little markets like London, ON, Next 1-2 years = flat (again), Next 5 years = 20% haircut.

#164 K Smith on 06.20.14 at 3:31 pm

-Gen Y
-45k (me), bf after graduation add 80-100k
-25% correction over a couple years. In our area talked to family friend, longtime in local RE field. Said prices have stabilized and had a small drop so far. Majority of current sales are by households due to divorce.

#165 ydizzle on 06.20.14 at 3:32 pm

a) rent in Ottawa
b) 180K family
c) 28
d) 15%-30% correction over a long period. Do not think there will be a fast crash, but rather a slow long decline. Don’t see any change until interest rates go up.

#166 Uh Oh Canada on 06.20.14 at 3:35 pm

Oops. When I say among, I mean in company with the 1%. I proudly do not claim to be part of Garth’s circle.

#167 Wiggleroom on 06.20.14 at 3:39 pm

A) own
B) ca. $360,000
C) 41
D) I’m expecting there will be a 20% or so correction in the next 2-5 years. (I live in Toronto.)

#168 Steve French on 06.20.14 at 3:40 pm

A) Rent
B) $100 K ($AUD)
C) 41
D) Australian real estate is going to b-u-r-n baby burn. Holy crap things are weird down here!

ps: and an apprentice Smoking Man.

#169 A440 Hertz on 06.20.14 at 3:41 pm

a) rent in St John’s NL, why buy?
b) 75k
c) 58
d) 30-50% crash

May not be so bad in St John’s for a while since oil and mining doing well. At least we have something to sell. Very little real estate data to go from since we don’t show up in many stats. Living here is the best kept secret in Canada. Great scenery, good food, friendly people, lots of entertainment and local beer.

#170 AKN on 06.20.14 at 3:46 pm

a)Rent in Richmond, Vancouver
b)125K (family income)
c)34, married,one kid
d)No idea

#171 suede on 06.20.14 at 3:48 pm

#691 PoS

Maybe the 99% are too dumb to read the gems that this blog gives away for free.

Their problem.

This blog provides a kick in the ass, not hand holding

#172 Rosco P. Coltrane on 06.20.14 at 3:54 pm


155K (two incomes)

41 and 39

20% average drop nationwide

#173 Joe2.0s evil twin on 06.20.14 at 3:56 pm

#677 Smoking Man on 06.20.14 at 1:29 pm
#622 Joe2.0 on 06.20.14 at 11:21 am

Smoking Man
Where can you make that amount of money making licence plates?

You sell a house and cottage, then put it all on a bet that the markets hit bottom, Feb 2009.one month into the rally, you go full out margin while in a drunken stupor … Then in April 2011 when you see a solid batman you exit…..
Event a text inscription tool that’s ready for market, just as Snowden goes public…
Have interests in small growing private companies.
The tax farm gig is only for casino loot and keeps me off the bottle.. During the day.
Smoking Man the better question is did you actually own the cottages? Mortgage insurance against real estate guys like you!

#174 Old Man on 06.20.14 at 3:59 pm

#689 Holy Crap – when I go to the casino am a big spender rising to the whale status with the pit bosses. I play the quarter slots and once $20.00 is gone that is it for me looking for a free show. I guess that makes me a minnow fish when all is said and done. :(

#175 Tdot on 06.20.14 at 4:02 pm

A:33year old male
B:own for the 2nd time sold the first and re-bought 2009
C:portfolio worth about $210000 managed by a professional
D: no debt except mortgage
E:reside in lower mainland
F: average yearly earnings $68000

#176 Depressed in Victoria on 06.20.14 at 4:05 pm

a) Rent
b) approx $70K net family income
c) 50ish
d) Only if prices drop like they did in the States when their housing bubble burst and we both still have jobs

#177 Danforth on 06.20.14 at 4:14 pm

a) Own – mortgage free
b) 108K
c) 42
d) Reduced rate of increase, or flat. But i’m in desirable Danforth in To. No reduction in this subway-walkable area.

#178 Dominoes Lining Up on 06.20.14 at 4:17 pm

Own a condo (bought in 1996, don’t care what happens)

Income is $77,500


Toronto condos down by 25% by 2015, SFH in the best areas down 15-20% by 2016 and no growth in either for at least a decade.

Suburban real estate down 30-40% by 2016

#179 Patient in Vancouver on 06.20.14 at 4:22 pm

(a) Renting
(b) $200k
(c) 31
(d) Flat to 15% decrease over next two years

We started saving for a down payment years ago, anxiously waiting for a crash. It hasn’t come, so we now have $250k+ and growing in a balanced portfolio, and have grown more apathetic about real estate. If a crash never comes we’ll just keep saving. Maybe one day we’ll buy a $1 million home for cash. Or maybe not.

#180 sweetbabyJ on 06.20.14 at 4:23 pm

A) Rent (Calgary)
B) 75K, 130 combined
C) 30
D) 15-25% correction somewhere late in 2016; followed by a slow bleed and maybe another 15 years to a ‘recovery’. HELOCs, credit cards and inflation in food are going to kick the regular folk in the pants. I know what it is to be overextended, and let me tell you the denizens of Calgary have a serious case of that on their hands.

People are buying the same s*** they were making post WW2. Garbage homes. Same boneheads who needed 3 spare rooms they use once every 2 years complain about $600 energy bills in their ‘efficient homes’.

No passive solar. No active solar. No solar hot water. No geothermal. Crappy windows. No thermal mass. Crappy insulation and air leakage. Turbines aren’t realistic for these McMansions that are crammed together. If you want to hear your neighbors’ dinner conversation they’re great for that though.

Your house is 3000sqft? Great. You can’t be bothered to unpack the stuff you dragged out of your last home or rental. Clearly you needed the space.

I genuinely think that most people fear discomfort; and societal conformation gives them the comfort they seek. Buying a house is the easiest way to get the nod. Comfort and atrophy are easier than evolution and growth (not inflation).

Regardless, I cannot speak for every illogical longing of the majority of humans. Perhaps it’s a lack of education and perspective. Perhaps people haven’t *gasp* been using the internet to seek alternatives to their current (very limited) knowledge base. So it will fall apart; and we will all suffer, but not equally. I don’t play the same game as the rest though, so I suspect I’ll do better than most. If not, I guess I’ll have a new learning opportunity. Garth help us all.

#181 DJG on 06.20.14 at 4:25 pm

It’s funny to see so many in total disbelief at high incomes. There is a lot of poverty in Toronto because that’s where the bulk of the jobs and the subsidized housing / rental housing in general tends to be. This poverty dramatically skews the income stats. The City of Brampton has a higher average income than Toronto, but obviously there is far more wealth in Toronto than in Brampton. Average household income in Forest Hill is around $480k, for example, whereas in the Castlemore area of Brampton (the richest part, where the grotesque mansions are), it’s $135k. Affordability, if that term can even be used in this context, is ironically much better relative to incomes in some of the most expensive parts of Toronto compared to the ‘burbs.

#182 Jay on 06.20.14 at 4:47 pm

A) Own
B) 70 K
C) 44
D) 40 -60 % Correction in next 5 years.

#183 cash hater on 06.20.14 at 4:51 pm

Holy sh*t, close to 1000 comments today huh.
I think you’re a lot more popular than you give yourself credit for my boy.

#184 Daniel on 06.20.14 at 4:52 pm

a. rent, b. 200k, c. 34 d. YVR -35% in 5 years against inflation so maybe 28-30% real dollars. Nationally, I’d say 10%-40% through the average will probably be around 20%

#185 Frank hugcsley on 06.20.14 at 4:52 pm

Own in south surrey
+\- 5%
Long term outlook: ????

#186 Oakvillain on 06.20.14 at 4:56 pm

a) Rent (SFH in Oakville, ON for $1425/mth)
b) 80k/yr until recently (1 income, wife is stay at home mom.)
c) 35
d) No idea, when I was 30 I thought I had it all figured out…then what I thought did not transpire..so now I have come to realize that I know nothing. But if pressed, I’d parrot the sensible minds who think there will be a regression to the mean…but who knows! What does sense have to do with it? We are all operating with incomplete information (some more incomplete than others granted.)…and what you don’t know can completely undermine your entire analysis.

#187 Truck on 06.20.14 at 4:56 pm

(a) rent or own, (b) family income, (c) age and (d) your outlook for real estate over the next one or two years.

a) Rent, 0 debt
b) 150,000
c) 31 & 25
d) 15% drop

#188 RM on 06.20.14 at 5:22 pm

(a) Own
(as of this month…waited for the longest time..rent has inched really high this summer in Edmonton, a lot of people came this summer from toronto and BC, I think u predicted this about toronto last year..about people selling and leaving the city).
(b) 95000 family income
(c) both 37
(d) No change for another year and then 10-15% drop

#189 YYC'er on 06.20.14 at 5:28 pm

I mentally checked off most of the items on your list, before getting to the actual questions.

I guess that makes me “OK, Normal”

#190 Darklan on 06.20.14 at 5:30 pm

Gen X both
20% down

#191 cash inseminator on 06.20.14 at 5:38 pm

Inflation in today @ 2.4%…….. and loonie shoots higher.
What does that mean on interest rate front ???????

#192 Joe2.0 on 06.20.14 at 5:41 pm

If we all poole our money we can buy a place in Van.

#193 Liar liar pants on fire! on 06.20.14 at 5:42 pm

A bit dated (2011 tax year) but still the latest posted by CRA – income tax statistics:

26,333,940 total numbers of returns – 17,429,010 taxable and 8,904,930 non-taxable;

Returns with total income above 50k – 7,405,790 returns with lucky 36,630 of them “non-taxable” and in details:
50k-55k – 1,000,620 returns (top 28%-ters)
55k-60k – 855,870 returns (top 24%-ters)
60k-70k – 1,394,010 returns (top 21%-ters)
70k-80k – 1,064,790 returns (top 16%-ters)
80k-90k – 780,730 returns(top 12%-ters)
90k-100k – 574,460 returns (top 8.77%-ters)
100k-150k – 1,107,970 returns (top 6.59%-ters)
150k-250k – 414,890 returns (top 2.38%-ters)
over 250k – 212,450 returns (top 0.8%)

Now look at the other side – CANSIM table 282-0011
As of Dec.2011 (matching the income tax stats from above) Canada had:
17,271,700 employed people and from them:
14,597,700 employees and 2,674,000 self-employed

Further the 14,597,700 employees are divided into:
3,579,500 – “public sector”
11,018,200-“private sector”

So I am not sure why the numbers are not to be trusted as it is very easily for a couple of “public” servants to crack the 100k+ family income and couple of teachers with 10years+ in the grid to hit 180k+

#194 YVRYuppie on 06.20.14 at 5:49 pm

(a) Rent
(b) Me, $75k. Partner (whom I live with), $65k.
(c) 26, 25
(d) At our age I wouldn’t want to be tied down either way, but I think it’s bound to correct in Vancouver over the short-medium term.

#195 Nathan on 06.20.14 at 6:04 pm

A) rent principe residence, also own a condo I rent out. Bought it in 2007 on the advice of parebtal units and no understanding of real estate.

B) 130,000 gross

C) 28

D) Hoping for a crash (I’m under water anyways, so to hell with it). I think it’ll be somewhat regional, but a correction across the board.

#196 Senta on 06.20.14 at 6:10 pm

Looks like I am the only mangy cur reading this pathetic blog in this sea of purebreds!

#197 debtified on 06.20.14 at 6:15 pm

(a) Rent
(b) $148.5K + Bonuses + Stock Options (Single)
(c) 39
(d) Down (Just like Japan)

Garth, thank you for the education and for helping us keep the sanity.

#198 Surprised by all the surprise on 06.20.14 at 6:20 pm

I’m not surprised by the incomes stated here, but I’m a little surprised by the people who are surprised. Who did you think was reading an economic blog written by a financial advisor who’s bearish on housing? Did you really think the readership would be an average cross-section of Canadian society? Or would it tend to be above incomes with above average education and an above average number of renters? This isn’t Facebook. It appeals to a very specific (and predictable) demographic, as the information given in the comments has confirmed.

#199 Jackie Treehorn on 06.20.14 at 6:23 pm

a) Rent
b) $265K, single
c) 45
d) No idea

#200 big25 on 06.20.14 at 6:25 pm

1. rent in Toronto. 2. 160k 3. 30 4. 30% correction

#201 A box in the sky on 06.20.14 at 6:27 pm

Been lurking this blog ever since seeing Garth do a presentation on housing during his book tour at the Chapters near 401/Kennedy in Scarlem. 2010 ish?

a) rent – pay 1300/mth for a condo that would cost ~ 380,000 to buy … yeah that’s Toronto

b) 125k not counting investment income

c) 34

d) SFH in Toronto – probably up 5-10%, condos in Toronto flat to down 10%

A couple of things

1. I feel really inadequate reading all of the 150k+ earners in their 20’s and 30’s! Really lol that the median income posted here is over 6 figures.

2. Putting on my retrospectacles, not buying a house in Toronto once entering the workforce after university was a huge mistake. Especially since I had no student loans to pay off.

Now I kind of feel like I’m spinning my wheels – house prices are out of control relative to rents, but there’s an endless stream of buyers in this city. I just don’t see myself buying unless I get married.

3. The studies that show peoples definition of “rich” increases with increasing salaries is so true …. I feel like I’m part of a ridiculous rat race in the GTA.

#202 raisemyrent on 06.20.14 at 6:28 pm

oo, almost missed it.
(a) rent in Downtown Vancouver
(b) 80,000-100,000 (1 person)
(c) 30
(d) 25% initial crash followed by an additional 15% over a few years

#203 CalGareeee on 06.20.14 at 6:32 pm

1. Rent
2. 160000.00 gross (one income family 3 kids)
3. 39 and 37
4. holds steady and possibly still climbs on a mini boom speculation but 15% decline 2016 start.

#204 I'm stupid on 06.20.14 at 6:35 pm


#205 Lolo on 06.20.14 at 6:35 pm

A) Rent current digs, also own a rental property
B) variable, 130k-170k
C) middle aged
D) In Vancouver, it *should* go down, but when? Thinking next year or two to be flat, then downhill 40% after that. Gawd, even 40% off a 1M East side dump is way overpriced.

#206 Long time reader, first time poster on 06.20.14 at 6:37 pm

(a) Rent (from a friend’s aunt, well below market value)
(b) single $62k
(c) 26 female
d) 10% drop over the next 5 years. Personally have no interest in buying ever for lifestyle reasons; wishing the house-rich, cash-poor retired parents would unload the 5,000-square-footer and enjoy their money before I end up inheriting the monstrosity.

#207 portmoodyite on 06.20.14 at 6:37 pm

b-100 k
c-59, retired

#208 Nemesis on 06.20.14 at 6:46 pm

#IKnowWhichDogSmokingManIs! #ThirdRow. #JustBelow&BetweenTheDalmatian&ThePoodle.

Seriously, that tongue is, like, a signature SM ™.

#209 waiting on the west coast on 06.20.14 at 6:52 pm

Rent older home on an acre in Vancouver suburb ( $1900 rent versus $3500 ownership cost)
Varies (100k-500k – driven by business acquisitions)
48 (42, 18, 16, 8)
I found market overvalued in 2003… Led me to buying binge on businesses… Lucky mistake but wish that I wasn’t so logical… Could have made some significant $$$ on the local RE market as well…

#210 South Surrey Renter on 06.20.14 at 7:06 pm

(a) Rent 50 year old 3000sqft country home on 3 acres 40 minutes from Van for 2K/mo
(b) 150-200K
(c) 40, 39, 7, 5, 3, 2
(d) Maybe down in the next couple years, maybe flat. Don’t see much more room for increase in the next 10 years. Don’t care either way. We love the country living and financial freedom of renting. Replacement digs currently valued in 7 figures. We will happily rent until it makes financial sense to buy. If that’s never, so be it.

#211 cmccullo on 06.20.14 at 7:11 pm

Aww, you never ask for anything, Garth.
a) Rent
b) 140K – family income – although depending on the declining fortunes of high tech industry
c) 43
d) live in Ottawa, so lots of stagnant inventory right now. Slow deflating balloon.

#212 Sideline Sitter on 06.20.14 at 7:24 pm

T.O. Bubble Boy — I think we’re one in the same. Cheers.

#213 nonameforme on 06.20.14 at 7:31 pm

a) rent (1200/mo bby)
b) married 2 kids, 50k (wife doesn’t work)
c) 30 something
d) One or two years? I wish for -50%+, but I could easily see prices jumping by +20% because everyone’s so stupid and unless we have a natural disaster, nothing will stop the train. Over a longer trend like 10 years, definitely 50+%

#214 LH on 06.20.14 at 7:36 pm

My turn!

A) I own seven SFH’s in downtown Toronto (M5T and M5R), 3 detached and 4 semis.

B) Total CAD 1.5 million or thereabouts. My salary income of CAD900k (which has held steady over 2011-2013). This year I got promoted, and on track for wage slave renumeration of CAD 2 million for 2014 including bonuses.
I am a trader at an investment bank all of you have heard of. Also, I am a rentier, with investment income of approx CAD600k.

C) My wife and I turned 30 this year
Our four kids are 5, 4, 2 and 0
Wife stays at home to look after family (her job is
tougher than mine!–none of this would be possible
without her)

D) I am still very bullish about central city SFHs (C01 and C02), and I am putting my money where my mouth is (more than C10million of exposure in this asset class). My guess is for another 10%-20% increase in my portfolio over the next 2 years. 905 and condos may be flat or even 10% down, however. Why? Simple, supply and demand imbalances.


#215 west coast on 06.20.14 at 7:39 pm

Rent in Vancouver
Own somewhere else!
prices for SFH will stick in Vancouver and then fall slowly- incomes will go up – prices will continue to reduce for older (15 year + condos) -especially when people start to read/understand depreciation reports and figure they will probably be kicking in an extra 70,000 – 100,000 for repairs ……

#216 Herb on 06.20.14 at 7:42 pm

OK, Garth, now let’s have the statistical analysis of the kennel. With 762 replies you won’t even have to rely on small sample theory.

Feel free to crunch the numbers. You’re retired. — Garth

#217 H. in BC on 06.20.14 at 7:48 pm

A) Renting since 2010, $1,300, 4 bedroom nice BC Box, in Eastern Fraser Valley, great landlords-The longer we rent the more we like it.
B) 70’ish k, one income mainly
C) 45, 51(husband) + 3 teenagers (one financially self sufficient)
D) It’s been stagnant here for a few years already, seems to be dropping, especially town homes. Otherwise I have no clue, gut says a general down trend overall for a long time.

#218 Mediabuff on 06.20.14 at 8:36 pm

1) Own a home (Ottawa), and a cottage (Muskoka). Trying to convince parents to sell their home (TO).
2) $180K income, plus there’s always money in the banana stand
3) 40, 39, 8, 6, 4, 1
4) 10% correction in 1 to 2 years. 30 to 50% national in suburbia/exurbia over 5 years in real terms. A few hot areas in TO and Van might only stagnate. But for most, this will end in tears.

#219 James Kitchener on 06.20.14 at 8:41 pm

Canada 34.5 Million people, of those 24.5 million
Filed Income tax.

8.3 Million do not pay any tax!!!!!!!!!

18 million earned under $50,000 Yikes
and another 5 million between $50K to 110K
Therefore, 23 million of 24.5 million people earn under 100,000 or 95% of all Canadian income tax filers
880,000 (3.5%) earn 100-150K
333,000( 1.4%) earn 150- 250K
174,000 (0.07)% (less than 1%) earn over 250
This blog
20,000 people a day
766 posts today
80-90% earn more than $100,000

#220 Against the tide on 06.20.14 at 8:41 pm

Although not earning the incomes above, I resent the assumption that those with lower salaries have no interest in trying to improve their financial knowledge. Despite good education and skills, ‘life’ can impact career paths. Many people attempt to combat this by living within their means and saving whenever they can. (You can have fun without a 6 figure income)
A)rent ( having sold 2 years ago- investing the $500,000 of appreciated value)
B)variable (self employed) currently $30,000
D down – no one knows!

#221 Tony on 06.20.14 at 8:52 pm

Re: #747 Surprised by all the surprise on 06.20.14 at 6:20 pm

Other than myself I don’t see a single reply from anyone who was born into wealth. From all the responses the young people are more apt to believe real estate will go up rather than down whereas for the older people the converse is true. Obviously real estate will fall in price and odds are real estate will be a lot lower a decade in the future than today.

#222 Dee on 06.20.14 at 8:52 pm

a. Rent
b. Single, ~$115k (I get paid in USD so it fluctuates w/currency, but it’s around there right now)
c. 32
d. One to two years is hard. I keep thinking it’ll go but then they find new ways to inflate the bubble. My guess is the new Minister of Finance is under orders to do everything to keep the party going (or at least the illusion of keeping the party going) until the next federal election. Whether or not he will find success, I’m not sure.

Longer term, down, then stagnation. I wouldn’t hold real estate in this country right now if you gave it to me (I’d sell it as fast as I could).

#223 Ging on 06.20.14 at 9:06 pm

$150k family income
10% correction in hamilton

#224 Small Business on 06.20.14 at 9:06 pm

A: Own

B: 170k. 1 income.

C: 34

D: Another boom for Alberta. But housing prices will remain the same or slightly higher. Because — it’s alberta man. Plenty of land.

#225 Fort Mac Flatlander on 06.20.14 at 9:39 pm

A: Rent, used to own but sold in 2011 for work purposes.

B: 250K 1 income

C: 33

D: 10% correction in Fort McMurray, 30% for back home (Saskatoon/Regina)

#226 Midlife on 06.20.14 at 9:53 pm

Own – no debt.
53 and 52
Live in burbs of Toronto. Hoping prices stay at same level for another 6 months so we can sell – then tent a small place with minimal upkeep

#227 Entrepreneur on 06.20.14 at 10:17 pm

a. own
b. about 40k
c. retired since 55
d. going down, down 50%
and more

Young people moving in the area: renting, no kids. Different era.

#228 GP on 06.20.14 at 10:32 pm

A) Own B) 250 K C) 36/38 D) 35% Vancouver (slow at first with a pronounced slump once it becomes obvious the trend is not reversing, with most of the damage being in the burbs and segmented to market type with condo owners taking a beating).

#229 Jack Bean on 06.20.14 at 11:04 pm

(a) rent or own,
Rent – 1240.00 per month –
Low rise condo 900sq ft 2bedroom +den Central air and full size in suite Landry

(b) family income,
75k Gross – Singe income

(c) age

(d) your outlook for real estate over the next one or two years.

I don’t know what might happen, but I hope that prices go back to the way they were in 2000-2003, prices seemed reasonable around that time.

Perhaps there is some truth in the “blood moon harbinger theory” which declares that financial ruin will come to us all on 09/13/2015. However, I think the markets can stay irrational for much longer than anyone can predict. I expected our housing market should have corrected in step with the US.. but look at us now, one big giant soggy bubble!

I bought a new build in Brampton in 2003 for 300K, I felt the price was too high and should have cost 280K.

I sold in 2010 for 540… I though to myself ” anyone who would pay 540 for this house would be a fool in deed”.. I wish the best to the family that liberated me from single asset hell..

Everything is too expensive now!!!
Inflation has eroded my buying power. My wage has been stagnant for 7 years due to off shoring, and the temporary foreign worker policy.

I am happy though, because I am debt free, and hold balanced ETF positions. It is a great feeling that I can be liquid enough to be out of work for a few years and not incur any debt.

Blog on Mr. Turner, Blog on…

#230 Dude Duderson on 06.20.14 at 11:04 pm

I don’t know about you guys, but I saw him say “family income” in his post, so for me for example, when I said “120k and married” I meant it’s our combined income. I make 90k, wife makes 30k.

That’s how I’m interpreting alot of these posts, as household income.

#231 Jonath on 06.20.14 at 11:10 pm

A)own house and recreation property
B)150 000
D)20% increase places like Alberta, BC and On 10% decrease. Alberta has the job

#232 T.O. Bubble Boy on 06.20.14 at 11:16 pm

@ #761 Sideline Sitter on 06.20.14 at 7:24 pm
T.O. Bubble Boy — I think we’re one in the same. Cheers.

Well – congratulations then!

Last 2 years have been incredible for non-salary investment returns… I’m always on the verge of saying “screw it” and buying some $1.XM house in Toronto, but it’s been great just sitting tight while piling up the war chest.

It’s going to feel amazing to buy a house in cash, and still have 7-figures left over.

#233 Happy Renting on 06.20.14 at 11:32 pm

#614 Bdy sktrn on 06.20.14 at 11:07 am

Among the non-doctors I know, those who pull in $100k by age 35 are in: finance, tech, sales, and entrepreneurship. Almost all work a sick number of hours, and the job/income security isn’t great. Still, it’s quite the achievement (I know, because I’m on the outside, looking in.)

#234 ya on 06.20.14 at 11:35 pm

120 – 140k per year
25 & 27
10 – 20% correction

#235 paolo jacuzzo on 06.20.14 at 11:40 pm

1-2 yr outlook: no idea
2+ yr outlook: 50+% correction in Vancouver
Many thanks Garth. Keep her lit big man.

#236 Buy When They Cry, Sell When They Yell on 06.21.14 at 12:11 am

Rent, will own in the winter (80,000 down on a $350,000 house)

Income: Me $122,000 – $140,000, Wife $40,000

Age: Me 29, Wife 25

Flatline or possibly up to 10% decline beginning in 3-4 years in Winnipeg, everywhere else I don’t know and I don’t care.

#237 Amazon on 06.21.14 at 12:34 am

a) Rent
b) $62,000/yr (in small town rural BC) Single mom.
c) 45
d) Fall of 20-30% minimum, to get things back in line with the norms…

Much cheaper to rent and continue growing my investments while my landlord subsidizes my lifestyle!

#238 EdmGuy on 06.21.14 at 12:49 am

1. own primary, rental, and trophy lot for future home
2. 400k
3. 38
4. Alberta slow and steady but big growth in premium properties. Van/TO will drop 10+

#239 Marie on 06.21.14 at 12:57 am

a) Rent
b) 60K household income
c) 33 & 34 with 2 young children. Live in small urban Saskatchewan
d) 20% Cdn average
e) 0 debt. 100K self-directed portfolio.
This is my first post. Regular reader since 2011. Cheers to more enlightened discussion and analysis.

#240 stage1dave on 06.21.14 at 1:37 am

Caught this one a bit late, oh well…

1) Rent (since ’98)
2) 60K plus or minus combined, wife has real job!
3) Married
4) Slow slide to 30-50% off peak prices

(barring military misadventure and/or major natural disaster. Of course, there is always the slim chance a sizable minority of the NA public will learn to add & subtract simultaneously, in which case we are truly doomed)

I should mention the wife & I carry no debt whatsoever & have a good amount of semi-liquid assets…like, stuff that would take a week or two to sell. Which we get to enjoy while we own it…

We enjoy living, period; not making payments to live!

Hey, we’re under 80K…do I still get to read the blog?

#241 Eftindexer on 06.21.14 at 1:46 am

A. Own
B. Family Income 85,000
C. 37
D. 10 to 15% loss in real estate

#242 Hickster on 06.21.14 at 2:05 am

1. Own (half paid, 250K to go)
2. $340,000 gross, single income, wife at home
3. 33
4. Here in Regina, stagnation and fall 1-2% per year. But since rents are ridiculous here with almost no vacancy, buying makes more sense for now even with falling home values. People in TO and Van are smart to rent though. We pay similar rents to them, but 1/3 to 1/2 the home prices.

#243 Overseas Canuck on 06.21.14 at 3:36 am

A) Rent
B) $123,000/year until recently when I left my job
C) 43
D) About a 25% average decrease (more in the condo market, less for SFHs) over the next five years.

#244 Tony on 06.21.14 at 4:33 am

Re: #707 JR on 06.20.14 at 3:17 pm

Everyone remembers Rico Suave, he was a professional wrestling manager around the mid 1980’s.

#245 Tony on 06.21.14 at 4:39 am

Re: #705 countrymusicfan on 06.20.14 at 3:14 pm

Most cottages have already fallen 50 plus percent over the last 5 to 7 years and as you say should lose another 50 percent going forward. Always look at the sane money first not insane money which would be cottage owners.

#246 Tony on 06.21.14 at 4:43 am

Re: 566 liquidincalgary on 06.20.14 at 9:47 am

Inflation in Canada will turn negative (deflation) going forward in the future. I would borrow and bet the farm on it. Commodity prices will implode which is mainly what Canada is based on.

#247 Steven on 06.21.14 at 7:38 am

DELETED. You are permanently BANNED for racist and homophobic comments. — Garth

#248 Herb on 06.21.14 at 9:59 am

“Feel free to crunch the numbers. You’re retired. — Garth”

Sorry, Garth, I’m also in the throes of an inter-city move and would not get around to crunching the numbers in my old-fangled, handraulic way for a couple of weeks. Maybe one of the more up-to-date-statistically blog dogs would accept the challenge. Aggregator?

It would be a great survey of the state and views of the relatively well-off portion of the middle class.

#249 Garth's Fave Amazon on 06.21.14 at 10:02 am

Regular reader since 2008 (at which time I was living in a basement)… first time poster!!!

a) Rent (I have since moved above ground)
b) $98,030 plus a small amount of investment income
c) 38 yo swf
d) As if I can tell… When I started reading I probably expected about a 10% drop, but I thought that would be in the distant past by now, and that peeps would have learned their lesson… Now, I’m thinking a 30% drop (I’m in central Toronto) but as for when, I have no idea…

All I know is that I feel Garth has saved me from personal financial ruin!

#250 N-N on 06.21.14 at 10:46 am

A)Own (at least half of it between the two of us)
B) 220-90
D)no idea

#251 Mike on 06.21.14 at 11:27 am

Regular reader. Who am I?

I’m a renter.

Family (me + fiancée) income is just north of 60k.

I’m in my low 30s, partner’s in her mid 20s. We’re both employed in arts fields.

And I have no idea about the future of housing. If it weren’t for my partner, I would have no interest in owning a house at all – but thankfully, she’s willing to wait until the prices drop and stabilize, and until we have some more money. House for us is “eventually” and “someday.”

I read the blog every Saturday morning at my day job. A week’s worth is a great way to get the day going.

And yes, I have a TFSA and RRSP, and both are invested.

#252 Kelly on 06.21.14 at 12:15 pm

(a) homeowner
(b) $44K single income; zero debt other than mortgage
(c) 47 years old
(d) I predict higher home prices for next two years. I plan on selling mine within the next two years and buying again, but cheaper/further away from GTA

#253 shane on 06.21.14 at 1:23 pm

A) rent
B) 190k combined
C) 44 and 40
D) Hoping for 50%, especially in Markham so I don’t have to pay 650K+ for a 2000 sq ft single garage shit box.

#254 the doubter on 06.21.14 at 1:36 pm

a) own
b) 60K
c) 65
d) Vancouver, Toronto and Calgary up, the rest down.
e) Longer term like 5 years, all down

#255 Steve on 06.21.14 at 2:08 pm

(a) own(selling and buying less expensive condo apartment
(b) retired $50k
(c) 63 11/12
(d)slight decline in SK everywhere is building or riding a rollercoaster

#256 VanCity D-Man on 06.21.14 at 2:11 pm

(a) own (400k, paid off, no mortgage)
(b) 160k family income
(c) 47 / wife 44
(d) 30-40% correction
(e) 0 debt, credit cards are paid in full every month, own 2 cars, 800k investments + 120k resp saved for 2 kids, wife has DB pension plan

#257 Waiter on 06.21.14 at 4:17 pm

(a) Rent
(b) Income just over 100K
(c) 48 years
(d) (Hoping for a decline of) 10% or more within next 2 years. That would cover the rent I paid during this while which all my homeowning friends tell me is money going down the drain :-)

#258 Rebecca on 06.21.14 at 4:27 pm

(a) Rent
(b) $150k
(c) 28 years
(d) A 10-20% correction followed by a long period of flatlining or slighly declining prices.

#259 D.D. Corkum on 06.21.14 at 5:08 pm

I parsed the comments.

Own – 234
Rent – 327
Both – 17
Neither – 2

This excludes many comments that were really just an ordinary comment, or that were too difficult to interpret using quickly thrown together scripting.

#260 Viva mcmurray on 06.21.14 at 5:16 pm

A) rent in Vancouver / camp life in Fmm.
B) 140k
C) 27
D) 30-40% drop in Vancouver

#261 None on 06.21.14 at 8:33 pm

#796 Steven on 06.21.14 at 7:38 am

Who are you? Well Steven, you are an asshole.

#262 ASL on 06.21.14 at 9:13 pm

even anonymously people cant help but lie. Several people in their early 20s making over 200K/yr? I doubt it. The only field this is even possible is a top athlete imo. Even googlers start around 90-110K their first few years coding.

If these are true, I didn’t know there was this many doctors/executives/hydro1 employees that read this blog.

#263 edmontonqween on 06.21.14 at 9:32 pm

A) rent
B) 100k
C) 39
D) down like a slap in the face.

#264 No Debt on 06.21.14 at 9:48 pm

(a) rent
(b) $90k before the government takes it’s piece,
(c) 56
(d) Over the next year, or even two, I don’t see any huge pain. Although, the economy is slowing. People are starting to hit their debt limits. Cost of living is rising, wages aren’t. Can’t see a good outcome in the long run.

#265 Harry Wilson on 06.21.14 at 9:57 pm

Hello again, Mr. Turner.

I was a little late to the party this evening, and missed the dust-up over now-banned Steven’s comment #86 on June 20th’s ‘Come On In’ post, but I thought I should mention that he’s also here on June 19th’s ‘Who Are You’ post, at comment #796.

When I first read it this morning, I thought it may be a misguided attempt at some ironic hipster humour, by assuming the persona of a booger-eatin’ white trash moron. I guess it turns out that it wasn’t an act.

Whether or not you delete his comment is up to you, but I thought I should mention it, as it should at least be a footnote in your single-spaced binder of shame.

P.S. Your call, but I won’t be hurt if you don’t post my comment on his comment, as it really has nothing to do with the topic at hand.

P.P.S. I hope I haven’t pissed you off too much lately; I know I ain’t your dream visitor.

Thank you for the alert. That comment is now deleted. A platoon of fire ants has been dispatched to crawl into that poster’s shorts. — Garth

#266 No Debt on 06.21.14 at 10:41 pm

#789 stage1dave on 06.21.14

>> “I should mention the wife & I carry no debt whatsoever & have a good amount of semi-liquid assets…like, stuff that would take a week or two to sell. Which we get to enjoy while we own it…”

What the heck is a semi-liquid asset? Either it can be cash in hand within a day, or it can’t. Toys like trailer queen hot rods, Harleys and RV’s don’t count as being liquid in any way.

>> We enjoy living, period; not making payments to live!

Sound philosophy. Money sitting idle in toys and material possessions that could be better put to use in investments is sheer waste, beyond it’s enjoyment value.

>> Hey, we’re under 80K…do I still get to read the blog?

Uhm… You didn’t mention your age, but there may still be hope. Hell, I’m barely eligible.

#267 love my kia on 06.21.14 at 11:44 pm

Finally something interactive here!
a – own (outright)
b – 96,000
c – 45 and 78 (aging parent)
d – stable here in Thunder Bay with slight increase

#268 Deadwood on 06.22.14 at 12:56 am

A) rent primary/own lake front
B) 160k
C) 46, 54
D) don’t know

#269 Curious George on 06.22.14 at 2:26 am

a) Own
b) 125K before tax
c) 42 yrs
d) Vancouver Metro
e) Soft Landing – Correction – 10 to 15%
f) Hard Landing – Crash >= 20%

#270 Osgoode on 06.22.14 at 9:04 am

a) Own
b) 180K
c) 47
d) It has to correct, doesn’t it??

#271 Drill Baby Drill on 06.22.14 at 10:44 am

a) own
b) $400K
c) 59
d) 50%

#272 Sassytoon on 06.22.14 at 11:05 am

I love your blog and I never leave a comment! Your blog dogs do scare me! Since I respect your opinion I will leave a comment this time.
a) Rent
b) $49000
c) 36
d) No big corrections in the next year or two but a big correction may come further down the road when home owners realize they can’t get the big bucks they want.

#273 BCD on 06.22.14 at 12:52 pm

Who cares. . .happiness doesn’t increase with income, not sure why some people think it does. Do I feel a tad bit inadequate, sure. We make 156K. That being said I am sure our level of debt is FAR below everyone else ($0).

Show me how happy you are and I might really be envious. Once the basic necessities are taken care of it’s the “other” things that REALLY count in life: How good looking are you? How charismatic? How physically strong? How many “experiences” have you had? How intelligent? How talented?Money can’t buy these things genuinely. Notice how these things are just as common in the poor folk as the rich ones? The best things in life really are free.

Life is so much more than a payroll.

#274 DRW on 06.22.14 at 1:31 pm

(a) rent for past 6 years in Vancouver
(b) 190,000
(c) 43
(d) 10-20%, in 2 years. worse in Vcr.

#275 LTRFTW on 06.22.14 at 2:16 pm

1) Own, mortgage free.
2) 110,000
4) Should go down but there are enough fools to keep it going up.

#276 Dr N on 06.22.14 at 3:20 pm

1. own, 250k mortgage
2. 350k
3. 58
4. 25% correction nationally

#277 The Flag Hag on 06.22.14 at 4:51 pm

1. Own condo mortgage free
2. Also enough due to my great, bearded, management Wizards (thanks Garth and Scott)
3. 57
4. Things will continue to go up in Calgary for 2 more years or so then correct 30%

#278 B-dog on 06.22.14 at 11:29 pm

A) rent
B) $250 (household, pre-tax)
C) 35
D) 20% correction in Vancouver

#279 John on 06.23.14 at 10:43 am

1) Rent. Used to own but cashed out
2) $140k – me, $120k, wife is underemployed due to wrinkly teachers staying in the system and makes $25k full-time part-time
3) 28 and 25
4) Downtown Toronto condos: down 30% from mid 2015 to 2018; 416 detached: another year of growth and then a decade of flat due to the lower rungs of the property ladder being eviscerated; 905: down 10% in the good areas, 30% in the 30 foot lot areas

#280 Roy Munson on 06.23.14 at 11:25 am

a) own
b) $110k
c) 32
d) stagnant (KW area, Ontario)

#281 Leo on 06.23.14 at 12:28 pm

(a) rent
(b) $240k
(c) 41 & 35
(d) could continue to go up in the GTA…

#282 Doug in London on 06.23.14 at 12:55 pm

You’ll have to forgive me for being late to respond here (I’ve been told I’ll be late for my own funeral) but I was enjoying the weekend SCUBA diving, spending some of the distributions, dividends, and capital gains from investments I scooped up while they were cheap. My stats are:

a) Rent (but own REITS)
b) varies widely, but average about 30 grand
c) Age 53
d) Believe the market in overpriced locales like Toronto will come back to reality eventually. Less correction in places like London and little or none in places that are already cheap like Windsor. Don’t know about Calgary, but higher interest rates could also bring prices there closer to sensibility.

#283 SlowPoke on 06.23.14 at 1:34 pm

(a) Own; bought a very old condo in 2012
(b) Married couple, about $200,000
(c) 33
(d) Stagnation in the high-demand GTA, Calgary, Vancouver. Outer suburbs and rural, slow price erosion.

#284 Subversive on 06.23.14 at 3:52 pm

a) Own
b) $180,000
c) 39 & 31
d) expecting a decline, aware that too much of my net worth is in real estate, working hard to correct that. Love where we live and have no plans to move.

#285 The Mayor of Transcona on 06.23.14 at 3:59 pm

Wow, spent the weekend at the lake and missed this doozy till now!
(a) Own
(b) Married, $125 combined
(c) 33/34
(d) Where I am, in Winnipeg, probably a very small correction or a number years of no price stagnation

#286 FlorianLR on 06.23.14 at 4:36 pm

(a) rent (Vancouver), money towards savings and etf’s
(b) Married, combined $150
(c) 34/36
(d) Vancouver/Toronto: 20 to 30% correction, other 10 to 15% with slowly rising interest rates…

#287 OneHotVintage on 06.23.14 at 4:53 pm

(a) rent (squamish)
(b) Married, $165k combined
(c) 33/31
(d) 10% correction, 15% or so in Van, GTA, Cowtown

#288 Londoner on 06.23.14 at 5:11 pm

Is it too late to post? FWIW:

(a) rent
(b) $300k+
(c) 37
(d) 416 SHF +10% over 2 years, 905 and condos -5%, not sure about the rest of Canada

#289 Tumorski on 06.23.14 at 6:48 pm

a) Rent
b) 140K
c) 35
d) ~15% in Cowtown (here’s hoping)