Loving to hate

CHIMNEY modified

Yesterday I threw a frequent and articulate poster off this blog. In response to a comment from someone proud that their immigrant parents had produced three doctors and two pharmacists who were helping Canadians’ lives, he wrote:

Born and raised Canadian kids could have been trained for those jobs, so don’t get too full of yourself. And doctors and pharmacists mostly are public servants, rather than net taxpayers. With most of their compensation derived from payments from government.

The implication was clear: immigrants steal jobs. The kids of immigrants are not ‘Canadian kids.’ Besides, the government subsidizes them.

Xenophobic, anti-immigrant sentiment is a sad, dark and persistent theme in the comment section of this site. That mirrors social prejudice, but it’s concentrated here because we often talk about real estate. Since houses cost so much – usually more than average people can afford without pickling themselves in debt – the hunt is always on for someone to blame. Rich foreigners are easy game. Especially in Vancouver. Especially now.

Last month the average detached home price in YVR jumped back into record territory, at $1,303,256. In Toronto it has also restored to a peak level, now $1,056,238. The average household income in Van is under $73,000, and in 416 about thirty grand more. It’s easy to see why mortgage borrowing is rising so quickly or the national debt-to-income is a record 164%.

My thesis has been that real estate values have been mostly impacted by the advent of cheap money and the legacy of 2008. When people who had unbalanced, equity-heavy mutual fund RRSPs and investment accounts were whacked in the financial crisis, they sold, took losses and vowed never to repeat. Even those who lost no money still lost their nerve. The aversion to perceived risk was then stoked by the real estate industry at the same time desperate governments were slashing interest rates to encourage borrowing.

So the cheaper money got, the more people borrowed and the higher house prices traveled. Before long 70% of families owned, and most net worth was being concentrated in one asset. As prices rose, more wanted in. Up she went.

But the thesis of many others, including those who cannot afford the house they feel entitled to, is that they’ve been denied a birthright by a foreigner who stole it. Thus, the myth of all of those thousands of Chinese millionaires beating down our doors, snapping up properties and through their sheer influence driving values skyward.

Standing by to fuel the panic are professional realtors and marketers. They’ve hired helicopters to have Chinese agents buzz the Lower Mainland. They’ve hired chicks of Asian heritage to pose as fake Chinese buyers. They’ve fed the ‘buy-now-or-buy-never’ meme a whole generation of virgin buyers now believes. They encouraged flawed surveys showing HAM is everywhere. And now they’re telling us a cheap Canadian dollar (in part because the economy sucks) is going to unleash the next wave for foreign buying.

“With the loonie falling about 10% against the U.S. dollar in the last six months,” said the Financial Post yesterday, “foreigners who have their money parked in greenbacks or in currencies pegged to the American dollar are likely to ramp up their interest in the Canadian marketplace, say industry experts.”

See what I mean? It’s a relentless and consistent message, yet one which is supported by no authoritative data. And any empirical attempt to counter it – as CMHC did recently with a survey showing only 2% of condos in 416 or 604 are foreign-owned – is instantly attacked.

So, what are we to think? If a massive doubling of mortgage debt on the part of Canadian citizens is not enough to make it clear who the buyers are, what is?

Well, here’s a glimpse.

The Victoria Real Estate Board tracks exactly who buys real estate in that market, BC’s second-largest. Yeah, I know. Victoria is not Vancouver, 115 watery km away. Maybe there are twice as many foreign buyers in Van. Maybe it’s five times. But at least this is a good starting point in understanding who is buying houses in one of the priciest cities in the country, and a provincial capital. The numbers below were just released privately to members of the Victoria Real Estate Board:

VIC BUYERS CHART

By the way, of the 1.64% of Victoria buyers who were foreigners, 50% were from the US.

Of course, such stats won’t change the minds of those who hate without thinking, or blame others for their shortcomings. That’s the nature of prejudice. We all have some.

But it’s a fair assumption all real estate board have similar numbers. Guess why they’re not published?

446 comments ↓

#1 Mike T. on 02.27.15 at 7:11 pm

Thank you Mr. T.

I have not always behaved appropriately here, and I make no promise to do so in the future, but I won’t post intolerant messages here in your space.

#2 Alberta is FINISHED on 02.27.15 at 7:13 pm

Realtors are nothing more then con men who are able to operate without government oversight. They tell a big lie and repeat it again and again until the gullible masses believe and repeat it as fact. Canada needs immigrants or else the ponzi called canada crumbles. Where is the foreign money now that Alberta is about to collapse? There is very little HAM or foreigners pumping up the canadian ponzi RE scheme just you average Canadian who is borrowing via CHMC. Take CHMC away and see just how naked everyone is swimming. The Re ponzi would crash 50%+ over night and every criminal realtor knows it.

#3 Nev on 02.27.15 at 7:13 pm

First!!!
Buy now or be priced out!!!

#4 Yogi Bear on 02.27.15 at 7:15 pm

In before a wave of anecdotes that prove there is a Yellow Peril stealing all the affordable housing in 604.

#5 Mike T. on 02.27.15 at 7:17 pm

I will say, though, that years ago when I tuned in to the Alex Jones clown posse show, his meme then was that the fake war on terror was going to switch from being about brown guys with beards living in caves with box-cutters (note – ?) to …… your neighbour, or their kid, or the nice guy from your poli. sci. class.

Now, don’t go tuning into this nonsensical side show….but interestingly enough, he was correct.

#6 Bobby on 02.27.15 at 7:18 pm

The Victoria market has slowed considerably with many homes being reduced or the listings just running their course.
Went to an open house a short while back. An overpriced home that has been sitting for awhile. The realtor said that the Chinese were buying up the Victoria market and that prices would skyrocket. Yeah, sure.

#7 mitzerboy aka queencity kid on 02.27.15 at 7:18 pm

1st

#8 Johnny Canuck on 02.27.15 at 7:19 pm

Well said Gartho! We are all Canucks!

#9 JSS on 02.27.15 at 7:20 pm

Come on, give Mark another chance

#10 axia on 02.27.15 at 7:22 pm

Thank you this post. I am the child of someone who jumped off a boat in Vancouver 35 years ago and married to a Canadian of Chinese descent. The type of rhetoric above just sickens me … I have even had it said directly to my face because I look like a real Canadian.

#11 Derek R on 02.27.15 at 7:22 pm

Sadly it’s always easier to blame the other guy. Particularly if he’s “not from around here”.

#12 everythingisterrible on 02.27.15 at 7:23 pm

Garth I believe you are mostly correct referring to cheap credit mainly fueling skyrocketing housing prices. But to deny HAM has had absolutely 0 impact on the GVRD housing market is a little naive. I can’t speak for Toronto.

Where did I say zero? — Garth

#13 Colin on 02.27.15 at 7:26 pm

Good post.

#14 harry on 02.27.15 at 7:28 pm

I really liked todays post. I all ways was skeptical of the stories about the Chinese driving up the prices so significantly

#15 Catalyst on 02.27.15 at 7:30 pm

Great post, I like many others come from immigrants over the last few decades. The beneficiary of universal healthcare, great teeth, good access to education and ability to making a living.

As I have posted previously, I agree wholeheartedly with the psychological aspect (people got burned in stocks, or perceived that everyone else did) and poured capital into the safety of their own homes. This misallocation of capital which has further been supported and encouraged by loosing credit guidelines has blown a massive asset bubble that is taboo to talk about. Housing has been on a 25+ year tear so scant few believe house prices can go down. I bet stocks would have a 40:1 PE multiple if stocks had only increased for 25 straight years but few can correlate the risks of a 40:1 PE stock and 20:1 leverage on a million dollar home.

It’s a harsh climate we live in, I think housing should be affordable in this country, perhaps just not the one we think we are entitled to. The cost of housing (including rental rates) is a huge problem for those <35 yrs old and no politician seems to care. Whenever 'housing' comes up as a topic in politics it is approached as a homelessness problem and its usually only raised by advocacy groups in the context of looking for more shelter funding.

#16 Marco on 02.27.15 at 7:31 pm

Thanks Garth. There’s this one too:

Macrealty in Shanghai.

http://www.macrealty.com/blog/detail/vancouver-firm-offers-a-one-stop-real-estate-shop-for-chinese-investors-in

Whatever helps keep this baby afloat, and Boomer house prices high for selling for retirement I suppose.

#17 Guy on 02.27.15 at 7:31 pm

Good article Garth. The only people who are not of immigrant heritage are the first nations peoples. The same kind crap has been said about all ethnic groups immigrating to Canada through out Canadian history.

#18 I'm stupid on 02.27.15 at 7:32 pm

Unless you’re First Nations, you’re the descendant of an immigrant.

#19 mikeymus on 02.27.15 at 7:32 pm

Great post Garth! thanks for that.

by the way, my family came here as refugees in 1979.
I’m a lawyer, my sister is a lawyer, my wife is a medical doctor and my brother serves in the Canadian army.

#20 IM in C on 02.27.15 at 7:33 pm

Garth. I found myself in Vancouver the end of January. Decided to test out the HFM (@#$%& foreign money) theories being bandied about on your blog. On the way home I drove into Stanly Park and overlooked the condos of the Coal Harbor district. It was 5:27 PM on Monday January 26. Sun had set, it was dark. All those condo buildings should have been ablaze with light. They weren’t. Bottom line, these condos are for the most part unoccupied. Not going to speculate who owns them. Will say that this situation fuels the rising housing costs in the lower mainland.

#21 Van coastal on 02.27.15 at 7:34 pm

with a survey showing only 2% of condos in 416 or 604 are foreign-owned – is instantly attacked.
—————–
Garth I agree foreign buyers are not the reason for million dollar crackshacks in van but you are Mis- representing the cmhc survey. It was of PURPOSE built rental condos in rental buildings Not strata condos, If you want truth in media lead by example . I guess I’m racsist for saying that?

#22 An immigrant on 02.27.15 at 7:34 pm

Most immigrants in past decade or two that came from China brought considerable money with them. Huge difference from decades before, and these buyers are shown as domestic (or local) in statistics. Of course, this alone cannot nearly explain high prices, but cheap money and 35yr mortgage cannot either.

#23 prairie person on 02.27.15 at 7:34 pm

In the neighbourhood I lived in before I downsized, there was one foreign buyer. Rich. Bought up a run down property. Built a house too big for the lot. Bought the lot next to that. Built another house too big for the lot. Disgruntled the neighbours. There is always conflict between recent immigrant values and established neighbourhood values. We bring our values with us. When I was young our neighbourhood was swamped with Italians. Initially, a lot of complaints from the WASPS but the Italians fixed up the two storey frame houses that were slowly deteriorating, learned English, sent their kids to school and when they had enough money, moved to a better neighbourhood. Decades earlier, the same thing happened to my father’s immigrant group. Immigrants come, bring their values, cluster together for support and protection and, over three generations, become mostly non-recognizable from the rest of us. I don’t know what happened in my previous neighbourhood in Victoria because I downsized and moved away but the point is that in an entire neighbourhood, there was one easily recognizable immigrant and his family. I paid 190,000 for my house. Sold it for 750,000. The buyer was a WASP, long time Canadian family. When I was looking for a place to downsize to, the crowds of people pouring into and out of open houses were locals or from Alberta, Sask and Manitoba. Canadians of non-Asian background selling and buying to Canadians of non-Asian background. In my current neighbourhood there are, from what I’ve seen on my walkabouts, two families of Asian origin but I have no idea of they are Canadian citizens or recent immigrants. In any case, it is a big neighbourhood and I’ve seen two, count them, two families of Asian origin. Personally, after having been through the underground museum in Moosejaw that shows the wretched, unbelievable, wicked way that Chinese were treated, I’m surprised that recent Asian immigrants even bother to speak to us. That museum made me ashamed to be Canadian.

#24 Obvious Truth on 02.27.15 at 7:40 pm

Ladder idea is genius.

Blaming immigrants for everything we created is stupid.

The type of leverage that could be in RE is astonishing.

And Alberta is finished is just getting fired up.

The blaming will in time become an epidemic. We are headed through some tough times.

#25 For those about to flop... on 02.27.15 at 7:41 pm

As an imigrant to this country and some one who is in an interracial marriage I do not have any problem with foreign investors being charged more tax on their investments in this country.
After all if I was going to buy a property in say Britian and was told as a non resident I would have to pay more tax on a property my response would be “no problem ” not “you guys are racist.”
You are not paying taxes in that country so why would you expect to be treated the same .
Of course if you gain residency you should be treated equal whether you are employed or not.
I don’t see how racism comes into it ,a goverment should favour it’s own citizens.
Favourtism is not racism.

#26 Islandgirl on 02.27.15 at 7:44 pm

I totally agree with many of the posters today. We’re almost all immigrants at one point.

As a family actively looking to buy here on the island (because there just isn’t a good rental here for us) it’s sad when our realitor tells us that she thinks the market will go back up because of the bidding wars in Vancouver. Umm, no. Found a house this week and it’s almost perfect except we don’t want to pay their asking price. Hoping we can sit on it an wait a month or so and snag it at a better price. It’s been on the market for quite some time…

#27 Paul on 02.27.15 at 7:45 pm

The San Francisco – Oakland – Fremont metro area was 23.2% Asian in 2010 (source: http://proximityone.com/asian_demographics.htm). However, according to S&P/Case-Shiller CA-San Francisco Home Price Index, San Francisco home prices have appreciated a mere 0.6% annually over the past 10 years (source: http://research.stlouisfed.org/fred2/series/SFXRSA#).

Moreover, the San Francisco home price index declined >45% from its 2006 peak through May 2009.

A high Asian population does not insulate Vancouver home prices.

Other data for other population centers with large Asian populations (e.g., Honolulu, Seattle, Los Angeles, Washington, DC, etc.) DO NOT SUPPORT ANY ARGUMENT that residential real estate prices react differently to basic economic forces than do residential real estate prices in low Asian population cities (e.g., St. Louis, Denver, Pittsburgh, etc.)

#28 Van coastal on 02.27.15 at 7:46 pm

And Garth is totally right walls never work that is why the government should butt out of resource deals involving state owned enterprises why can’t The Chinese government invest in our oilsands and telecom companies why can’t they operate freely as American corps? The Harper government is obviously rascist

#29 Strataman on 02.27.15 at 7:46 pm

you are right on Garth! As a building manager in Downtown yaletown 604 90 % of our owners are Canadian born. rich immigrants are less than 2% the rest are hardworking immigrants that build the fabric of our country. I am really typical Canadian Caucasion born in Canada male! I thrive on the diverse cultures the incredible politeness of immigrants (both rich and normal) Suprisingly the residents who are Canadian born seem to have a really heavy chip on there shoulder. There is an exception those Canadian born over 60 generally are very decent as well. Also those young Canadian born high tech entrepreneaurs are great. The worst are those Canadian born realestate (developers, designers, property managers, and of course! Real estate agents). Amateur landlord Canadian born and under 40 are just plain jerks! My point being your point of view ( mine included) will always be biased. That’s okay as long as you admit / know your biased. But the guy you turfed actually thought he was unique and failed to see it was just playground envy on his part!

#30 Mike in the Okanagan on 02.27.15 at 7:47 pm

What I don’t get about YVR is if the average family income is $70k and the average home is now $1.3M how the heck is a local family buying anything there?

What’s the limit the bank is willing to lend someone making $70K on a mortgage?

My brother lives in North Van and he’s telling me all the locals are bailing being replaced by either empty houses or foreigners.

Personally I have no problem with people coming to Canada. I just think the math doesn’t work if you say it’s locals in Vancouver driving the market to the moon.

Then again maybe the banks are just hanging their butts out to dry.

#31 cramar on 02.27.15 at 7:54 pm

Just had a feature on Global National news that Canadians are tapping into to their RRSPs in record numbers to make ends meet. Not good!

#32 T L on 02.27.15 at 7:54 pm

Really great post. Like i’ve said before Garth, I may disagree with some of your political and economic views, but you certainly are a person of integrity. You are providing a valuable service here for which you should be proud.

#33 Henry Lukenge on 02.27.15 at 7:56 pm

Thanks for kicking that person off the blog; We are all Canadian regardless of who our parents are and where we were born the moment we become Canadians. I’m of Ugandan Parentage but I have settled in this country and set up a business employing many people. I doubt that person who claims to have choice on who is who is not Canadian has done more than any of us to make this country what it is.

#34 GeorgeSoonToBeRetired on 02.27.15 at 7:58 pm

#18 I’m stupid

Unless you’re First Nations, you’re the descendant of an immigrant.

—————————————————————–

Actually, First Nations are all immigrants too.

They just got here from Asia (mostly, the evidence suggests) from hundreds, up to about sixteen thousand or so, years ago, before the rest of us, starting after the last great ice age. When we’re all dead ten thousand years from now, the order of arrivals will be trifling minutiae.

The game of establishing entitlement by virtue of who got where first does not end well – take a look at the middle east. It won’t answer the tough questions.

Better that we just show basic respect for everyone, methinks, and hold no position sacred or immune to reasonable discussion.

#35 ANON on 02.27.15 at 8:01 pm

Lest we forget, let us remind ourselves that the commentators here belong to the sub-one percent of the population who has figured out something is wrong…and probably has had the time to look for and pick an explanation from from the myriad of howling contradictory cognitive dissonances on the Internet and the media.
Surely the rest of the population will be a lot more rational when the bubble blows up in its face, right?

#36 davikk on 02.27.15 at 8:03 pm

Nothing has changed: Housing crisis worsens in global scale, new mortgage crisis coming…

http://investmentwatchblog.com/nothing-has-changed-housing-crisis-worsens-in-global-scale-new-mortgage-crisis-coming/

#37 [email protected] on 02.27.15 at 8:03 pm

Easy experiment: Send your resume with a Canadian name. Count responses. Send resume with immigrant name. Count responses.

WHO DO CANADIAN EMPLOYERS RATHER EMPLOY?

Same works for address ie. Jane and Finch

#38 Retired Boomer - WI on 02.27.15 at 8:03 pm

Cheap money DOES tend to inflate prices. Who could ever remember what a “NORMAL” interest rare might look like?

I seem to think 2-3% OVER inflation is about right – I think. When inflation was 2-3% rates were 4-7% depending on demand, your credit etc.

Now….who can tell. Do you believe rates will rise (meaningfully) this year? I doubt it, we might get the token .25% goose as promised. Will THAT slow the lusting for property in pricey hoods? Not a chance in you know where. Shove that rate up 2% and we start to dampen demand, and weaken prices, and get to ‘normal.’

Naturally the over-levered buyer is still hosed, but you knew that already, right?

He is the goat. He will now find a way to place the blame for his malfeasance on someone else, a scapegoat.

Just think of it. You are normal, your neighbors are normal, the TV broadcasters are…oops… going too far

Who will take the blame for bad decisions? Any one but the one who made them. Funny, we all make them.

#39 Washed Up Lawyer on 02.27.15 at 8:04 pm

Nicely done tonight Garth.

Three of four grandparents of mine were immigrants. Peasants. Two were from an impoverished village facing oppression and a lifetime diet of potatoes and bread. Risked their lives to arrive in Canada with nothing in their pockets. Worked hard, raised families and thrived (on a relative scale). We should all welcome immigrants. Canada benefits greatly.

My relatives were given a second chance at life here in Canada.

Can Mark have a second chance?

#40 EUROPE is FINISHED on 02.27.15 at 8:06 pm

It’s a rabbit hole world!

http://www.nytimes.com/2015/02/28/business/dealbook/in-europe-bond-yields-and-interest-rates-go-through-the-looking-glass.html?hp&action=click&pgtype=Homepage&module=second-column-region&region=top-news&WT.nav=top-news&_r=0

#41 crazed and a little confused on 02.27.15 at 8:07 pm

it not even about buying a residence. its a investment!!!

http://www.msn.com/en-ca/money/topstories/how-the-falling-loonie-and-low-rates-could-lure-more-foreign-investors-to-canadian-housing/ar-BBi0HdC?ocid=mailsignoutmd

I didn’t bothering reading it. it the same story again…again and again

#42 crossbordershopper on 02.27.15 at 8:08 pm

I actually agree with Garth, the points he missed are that 2nd and 3rd generation kids of immigrants are generally wealthier and more educated than their counterparts.Like me.
Some people are simply lazy, Canada does that to you. If your in Brampton and have 3 generations living in one house till your brother and his wife get enough cash to get their own place etc. is a difficult thing for canadian born kids to do. Doing without today for a greater good down the road is difficult to sell to many Canadians.

#43 Former Fool on 02.27.15 at 8:08 pm

Excellent post Garth, thanks for sharing your views.

I too found Mark’s comments offensive. Too bad, because I actually was trying to give him a fair shake when others were crapping on him. He had some interesting comments on other topics, but his final post was cruel and disrespectful, as you point out.

I too am a child of immigrant parents. My dad took on any work he could get to support his family, and worked his way up into a respectful professional position. My mom was a pharmacist with foreign training, and had to pay from the family coffers for re-certification in Canada. She is not a public servant, has worked for a large retail chain for 30 years, and her attention to medical details has saved the lives of patients. Together, my parents raised 4 kids, all of whom are gainfully employed, post-secondary educated, and contribute to this great country.

There are people, on this blog and elsewhere, that blame immigrants for their problems. In particular, with housing prices, as often comes up here. So lame. How about blaming the government for 40 year mortgages with no money down? Record cheap access to money? High oil prices driving salaries up in YYC?

In life, the difference between those that succeed, and those that fail, is the ability to adapt. Rather than moaning and groaning about one’s situation, one should work to change it, rather than lashing out in hatred.

Thanks Garth for being the voice of reason and challenging these prejudices with actual data.

#44 everythingisterrible on 02.27.15 at 8:09 pm

#12 Garth I believe you are mostly correct referring to cheap credit mainly fueling skyrocketing housing prices. But to deny HAM has had absolutely 0 impact on the GVRD housing market is a little naive. I can’t speak for Toronto.

Where did I say zero? — Garth
________________________________
So then why are you calling people xenophobes for simply observing a notable trend in their local market which has had probably some affect on prices?

#45 lala on 02.27.15 at 8:09 pm

There are two types of emigrants, the ones who likes it and settle down, and the ones who don’t like it, make some loot, bitch around and leave Canada for good. First type are usually people from third word countries and for that reason 416 and Vancouver RE it will go always up.

#46 Financial Freedom at 40 on 02.27.15 at 8:12 pm

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

#47 Chris in Nanaimo on 02.27.15 at 8:14 pm

My Realtor sent me this bit of propaganda today about the AB market.

http://www.repmag.ca/news/oil-jobs-not-declining-alberta-market-will-survive-188717.aspx

#48 Julie K. on 02.27.15 at 8:16 pm

Wow. After every read, I fall further in awe of you, Mr. Turner. First, for your financial smarts that makes me think. Second, for your wit that makes me laugh out loud at times. Third, for your decency & wisdom in handling the myriad POV’s posted here.

As an aside, heading off to the Sunshine Coast for the weekend where we do not have access to internet (by choice). However, I have photographed the last 3 posts on my cell (Tax This, The Illusion and Poloznomics) and will be reading them to my audience of one (my husband). He needs to learn what I have been learning thanks to you.

Thank you and have a great weekend!

#49 Freedom First on 02.27.15 at 8:16 pm

I have said it before and I will say it again. Self pity, blame, anger and judgementalism are enemies of my peace of mind and well being. Of course, I will visit each of these periodically, but it is vital to me to make my visits as short as possible. With decades of practice, my visits are far apart and very brief.

Best for me to focus on only what I am doing or not doing, and not what anyone else is doing or not doing.

It is sad to see so many people fighting good mental health.

I do hope this Poster Garth just blocked from his Blog learns something from this. I must admit, it did make me feel good to see him gone.

#50 ILoveCharts on 02.27.15 at 8:17 pm

Garth – your comparison of Vancouver to Victoria (the whitest city in Canada,) is laughable.

Besides, it doesn’t matter if a person is “foreign” since that can be defined in a large number of ways. What matters is if the money was foreign.

#51 aL pacino on 02.27.15 at 8:18 pm

#16 Marco on 02.27.15 at 7:31 pm
Thanks Garth. There’s this one too:

Macrealty in Shanghai.

http://www.macrealty.com/blog/detail/vancouver-firm-offers-a-one-stop-real-estate-shop-for-chinese-investors-in

Whatever helps keep this baby afloat, and Boomer house prices high for selling for retirement I suppose.

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

Heck, why don’t they just advertise our real estate throughout the milky way galaxy?
That way McDonald really could just tell the chinese, better hurry or….现在买还是永远出的价格 ( or be priced out forever )

#52 Smoking Man on 02.27.15 at 8:22 pm

Racism is a confession that tells the world you don’t like yourself. Cause if you love yourself, especially the way I love me..

It’s impossible to hate anyone.

Yet we life in a world of hate.

Today

Boris Yefimovich Nemtsov murdered in Russia. Shot dead. Putin’s main opposition in government .

The western Machine here is getting desperate. They’ve lost the ability to oun the sheeps minds.

The Internet , social media acts like the link to a steering wheel, when the machine turns it left, but then sheep go right. This is serious, very serious to them.

Right now no world leader has more popularity in history than Putin enjoys in his home terf right now.

Putin had absolutely nothing to gain by this man’s execution, he’s not relevant at the moment . .

This was definitely a NeoCon hit. The goal, get Boris’s supporters in the streets and rioting.

As we watch the news tonight, Lesa Laflem, Peter Mansbridge, will be reading the teleprompter, projecting body laungage of shame on you Putin, innuendos galore, but will present with Canadian niceness.

John McCain posted a pic with him and Boris on twitter. They’re good buddies.

Jesus, with buddies like that who needs enemies.

Looking at Russian blogs, and news sources. It was a CIA or MOSSAD hit, designed to destabilize Russia and Putin.

It will backfire enormously. Necons have lost there minds. And if you support them, kiss kids tonight.

Dogs, Google what happens to you when an 800 killoton nuke explodes over your city..

Our leaders are going to get us all killed.

This murder is a huge red line… Look out is all I’m saying..

Jesus how did I go from racism is bad to this rant….

Obviously I’m drinking early tonight. See how the mind wonders.

#53 Boss Hogg on 02.27.15 at 8:26 pm

Very nicely written, Garth.

People are stupid. The people of Ontario are the stupidest. They gave the Liberals a majority for crying out bloody loud.

#54 Vanecdotal on 02.27.15 at 8:33 pm

#16 Marco

“Whatever helps keep this baby afloat, and Boomer house prices high for selling for retirement I suppose.”

Agreed, this seems to be the current plan (and policy direction).

#21 For those about to flop…

Completely agree. Both sets of my grandparents were immigrants. Race is completely irrelevant to the RE discussion, or absolutely should be, the real issues are:

1) IS there a skewing of local RE markets due to (currently unrestricted) foreign housing speculation?

2) If so HOW much is this directly affecting local affordability, and to what extent?

Vancouver has begun collecting this data officially in the past year: http://blogs.vancouversun.com/2014/07/14/vancouver-to-collect-data-on-property-speculators-empty-dwellings/

We are one of the few remaining regions in the westernized world that currently do NOT track foreign ownership, which seems odd to me. It feeds the meme that hoardes of foreigners are descending to scarf up every last dwelling by not tracking the data and making it publicly available. (Realtors love this).

By the same token, if the data shows there IS a significant foreign influence in local markets, the public has a right to know, and government should set policy accordingly, meaning they should be taking a hard look at how to set policy that is in the best interest of housing affordability for all Canadians (regardless of ethnicity). Lack of data plain and simple is precisely what’s fueling racial tension imho, and the RE industry absolutely is using this to their advantage.

THAT is the crux of the matter, and it is important we get some legitimate data on this ASAP to avoid any further “speculation” on the issue. (pun intended). I imaging the RE Cartel is likely pushing hard against this however, as they can easily play both sides for their benefit. This industry needs better regulatory oversight immediately, the fact government’s been turning a blind eye long enough to allow it to get to this state is absurd.

#55 Mark on 02.27.15 at 8:34 pm

Garth, you do realize that I was attacking the idea that some people hold that they’re individually, or as a distinctly defined group, lynchpins in the economy. Not the individuals themselves. For instance, during the 2008/2009 collapse, bankers held themselves out as being all-important and irreplaceable. Lately we’ve been seeing promoters of “HAM” actually running around with the theory that the Vancouver/Toronto RE markets would collapse if “HAM” stopped coming to Canada (even though evidence is scant that “HAM” even exists in the claimed form for reasons which have been thoroughly debated).

The poster yesterday who I responded to was holding his relatives out as being vitally important and irreplaceable to the Canadian healthcare system. If I was a bit brash and uneloquent in my wording, I definitely apologize, but the intent wasn’t to attack any individual, but instead, to attack the inflated sense of vitality that certain people hold of themselves or their role in society.

Likewise, in the comments section, there’s someone who runs around every day and claims “Alberta is finished”, as though the entire industrial base of Alberta is positively correlated to high oil and gas prices. We can safely disregard such extreme statements as well, as Alberta has survived and actually prospered through numerous resource industry downturns throughout the years. Including ones dramatically more severe than experienced now, or in 2008/2009.

So delete me if you want, and I won’t bother no more, but I hope my explanation doesn’t leave you drawing the conclusion that there’s any xenophobic motives to what I wrote.

I will allow you to continue posting on two conditions. (1) You apologize to the person whose family you cruelly belittled and (2) if you have the support of others here. The floor is now open for comments on the fate of Mark. — Garth

#56 Loving to hate | Realties.ca on 02.27.15 at 8:35 pm

[…] Source: http://www.greaterfool.ca/2015/02/27/loving-to-hate/ […]

#57 MGTOW on 02.27.15 at 8:36 pm

Everyone is asking themselves; “how long is oil prices going to stay this low?”

Well, let me tell you something, a fact that you probably don’t want to know. America, and Saudi Arabia is going to make sure oil prices stay in the $50 to $60 range for as long as it takes to make Russia totally collapse economically, so that life there becomes so bad that the masses rise up and decide they cannot take it anymore and Putin is thrown out of power.

That will take anywhere from 5 to 8 years. So that is how long oil prices are going to stay low.

Meanwhile, the U.S. is going to bail out Ukraine’s economic position, giving them a few $Billion, mostly so that they can go and buy military hardware from certain key allies, military hardware that the U.S. will be selling to Ukraine for only pennies on the dollar. This way America won’t be blamed for arming Ukraine to the teeth, they can say that Ukraine is buying their own weapons ‘without’ the U.S. getting involved.

All of this has begun already, just Google it and you will find out.

As for immigration and jobs: Yes I am one of those nut jobs who feels that if we have tons of jobs then we should let more immigrants in to apply to those jobs, and when jobs are in short supply then we should cut off immigration so that our own unemployed have a chance to get hired. If there is a shortage of skilled people it used to be that companies would simply go and train workers to do the job, but the massive amount of immigration has spoiled companies so that they no long feel the need to train anyone. The only problem is that right now we already have thousands of companies who are leaving Canada for other places where taxes and regulations are less, so if we stop the immigration of cheap workers we get even more hemorrhaging of companies leaving Canada. Either way, it doesn’t look good for anyone unemployed. But I stand by my decision = a nominal ‘normal’ unemployment rate of 5% is very easily possible, so only when unemployment drops down to 5% should we have 100% full immigration levels allowed. For every 1% increase in unemployment the immigration levels should be decreased by 20% from full immigration. When national unemployment reaches 10% then immigration is stopped completely = 0% immigration. That’s just common sense. Yes, it would kill our housing market but the debt burden is going to kill it anyways, so just ignore that.

#58 james on 02.27.15 at 8:40 pm

The idea that foreigners (or even recent immigrants) are to blame for the housing bubble in Canada is ludicrous. It ignores cheap credit, the CMHC, goofy RRSP withdrawal schemes to help home purchasers, mass psychology, the influence of house pumpers in the USA (pre-crash), etc etc.

However, I am troubled by the implication that anyone who does not like immigration is xenophobic. For instance, David Suzuki has advocated ending immigration, on environmental grounds. It is hard to characterize him as a card carrying member of the KKK, so the CBC politely ignores such comments.

#59 Daisy Mae on 02.27.15 at 8:41 pm

#18 I’m Stupid:

Interesting facts: “Scientists do not agree on where First Nations people came from, or how they got to North America, but they do know that First Nations people are genetically related to people in parts of Asia.

Scientists know that First Nations people have lived in what is now Canada for at least 12,000 years, because they have found bones and artifacts that go back that far. Many scientists now believe that some of the First Peoples may have been here for much longer than that.

For a long time, scientists believed that the ancestors of all North American First Nations people crossed over on foot to North America from Asia at the end of the last ice age, about 12,000 years ago.

At that time Asia and North America were joined, and what is now the bottom of the Bering Sea between Russia and Alaska was dry land, (a “land bridge) because sea levels were much lower than they are now. The earliest man-made artifacts – tools or ornaments that archaeologists have found – date from that time.

The theory is that nomadic hunting people followed the big animals (moose, deer, elk, buffalo) for food, and eventually moved south and spread out as the ice sheets melted back. Then they evolved different cultures to suit different environments.”

#60 Ford Prefect on 02.27.15 at 8:46 pm

The banned Mark.

I agree that his comment was xenophobic but he often posted interesting, if sometimes controversial, analysis of current economic topics. Perhaps it would have been fairer to have simply deleted the obnoxious post with a warning, “do not do it again.”

#61 Smoking Man on 02.27.15 at 8:46 pm

Well it happened, my son walks into his bosses office and resigns. Against our deal.

I said to him when you clear 50k you can quit.

He calls me up to tell me the news, log in he says. I’m thinking shit he’s got the account up to 100K. What did he do.

I log in, he’s still on the phone.. See dad, ha, I got this..

I see 50k, I say dude that’s only 25k.

Are crazy dad, you need new glasses.

I say, you need an education. You only have 25k the other half goes to the govt.

He starts googling tax havens,.. I’ve Created a Monster.

#62 Questions on 02.27.15 at 8:50 pm

All I can think of reading this is the South Park episode: “They’re takin are jobs!”

Xenophobia is one of the reasons, also bank of mom and dad. Throw in low interest rates, and also people who have locked in tax free profit as they climb the ladder. Still, I feel like this isn’t enough to explain the discrepancy between price and income. A low end 1% er (say 5% er), would find themselves in a pretty average place that needs work if they bought now in Toronto/Van, and the momentum is still all there.

What’s really going on?

#63 Questions on 02.27.15 at 8:55 pm

I meant to say that along with xenophobia, several other common statements are made by RE to explain. Some seem rational others are fear tactics.

Also, I’m told our country follows responsible lending practices, so the leverage especially at the high end shouldn’t be there.

All of it whether true or untrue doesn’t sum up to enough for me to comprehend the price to income and debt ratio.

#64 Ponnaps on 02.27.15 at 8:57 pm

Garth, where buyers come from can be so different from where the money comes .. I think the facts to be presented should be about the source of the money rather than the origin of buyers..

Money does flow in to the country both legally and surely via illegal means as well.. just going with legal avenues – 10K per head per travel, family of 4 you’re looking at 40K, add family and friends visiting over the years.. Anyone planning an RE investment a couple of years down the line can thus rack up a nice tidy down payment from non-Canadian income alone..

Besides, regular wire transfers being designated as gifts are a norm as well.. case in point a colleague who is fully financing his swank new Mercedes from rental income coming in from abroad..

I really don’t care who’s buying property but if its foreign money bloating up the market that’s a distinct disadvantage for hard working Canadians with no access to such alternate sources of funds then I have a huge issue with that..

‘Hard-working’ Canadians competing with ‘illegal’ immigrant money? Give your head a shake. You’ve lost it. — Garth

#65 bigtown on 02.27.15 at 8:59 pm

When I started working at the age of 17 in Chinese Cafes in Sherbrooke, Quebec for Hong Kong immigrants to Canada and Indian immigrants from India they were so kind to me as I was like them an Anglophone in French Quebec during the Quiet Revolution of the 70’s. Of course I was bilingual but French was my second language. These Asian and Indian immigrant entrepeneurs were kind and decent people and the Asian guy from Hong Kong was a major success in Montreal too. I have a positive bias for the Chinese immigrants because they have always been GOOD FORTUNE for me and we are lucky in Canada to get those good sorts.

#66 JimmyPage on 02.27.15 at 9:05 pm

Regarding Mark,

If he apologizes, then let him stay.

#67 aL pacino on 02.27.15 at 9:09 pm

#66 Ponnaps on 02.27.15 at 8:57 pm
Garth, where buyers come from can be so different from where the money comes .. I think the facts to be presented should be about the source of the money rather than the origin of buyers..

Money does flow in to the country both legally and surely via illegal means as well.. just going with legal avenues – 10K per head per travel, family of 4 you’re looking at 40K, add family and friends visiting over the years.. Anyone planning an RE investment a couple of years down the line can thus rack up a nice tidy down payment from non-Canadian income alone..

Besides, regular wire transfers being designated as gifts are a norm as well.. case in point a colleague who is fully financing his swank new Mercedes from rental income coming in from abroad..

I really don’t care who’s buying property but if its foreign money bloating up the market that’s a distinct disadvantage for hard working Canadians with no access to such alternate sources of funds then I have a huge issue with that..

‘Hard-working’ Canadians competing with ‘illegal’ immigrant money? Give your head a shake. You’ve lost it. — Garth

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

Is that you Mark…pretty slick my boy….

#68 JSS on 02.27.15 at 9:12 pm

Let Mark stay. He’s made this blog more interesting.

#69 Poutchli on 02.27.15 at 9:12 pm

That’s a good point.

Personnally, at my work, foreigners who joined my team, as soon as they became permanent residents, sold their Shanghai condos (300% appreciation in 10 years there) and bought houses in Toronto. Not shacks, but 650k-1.2 million dollar houses. This isn’t a proper sample, obviously, but this is what convinced me HAM exists: those same coworkers told me it does exist. They says they have many friends in their community in the same situation, that they work hard to get out of Asia to come here.

The stats don’t put ‘permanent residents’ in the foreigner bucket.

ps: my wife is a foreigner, my brother’s wife, my sister’s husband. I have no problem with foreigners buying houses here. I’d gladly ship to Asia half of the non-foreigners I encounter in the TTC.

#70 HD on 02.27.15 at 9:13 pm

Re: Mark

For the record, my parents immigrated from the Caribbean 36 years ago with almost nothing….

Here I am doing more than okay…I think.

I am not certain if Mark’s net overall contribution to this blog is positive but he sure gets a lot of people thinking/talking, me included.

If he agrees to condition #1, I am not opposed to let him post on this forum.

Best,

HD

#71 Linda on 02.27.15 at 9:14 pm

Sadly, those who are without something they perceive others have will almost always attack the perceived ‘haves’ & lay blame at their door for what they ‘have not’. In Alberta, the most recent attaches (led by current Premier Prentice) ask, as always, that the public servants be ‘aligned to reality’ & absorb salary rollbacks etc. as ‘they are better paid than anywhere else in Canada’. No one mentions the big elephant in the room – energy (O&G) company salaries. In order to get people, all sectors compete with oil & gas, including the public sector. Hence the higher salaries. Plus, no one who is attacking the perceived safe, uber rich in benefits public sectors jobs mention the years when salary rollbacks or layoffs occurred. Nor do they bother to mention the many years of higher than average salary increases or high bonus money paid to the O&G sector. Nope. O&G are being whacked (& this too shall pass) & the public sector attacks begin. What is that 10th commandment again? Thou shalt not covet thy neighbours…..? While the newly laid off would happily scoop up any public sector job available you can bet that job will be dropped like a hot potato once the O&G sector picks up steam once again. Because you can make lots more in O&G & even the low end of the employee ranks get the rich bonus money once the good times roll.

#72 prairieboy43 on 02.27.15 at 9:18 pm

Mark’s In.
As for foreigners. No problem. Welcome to Canada.
No one wants to get there hands dirty. Everyone wants to be the boss, in a resource rich country. How does that work??

#73 45north on 02.27.15 at 9:22 pm

Even those who lost no money still lost their nerve.

which is a big thing, confidence is an internal thing, it needs to be guarded

anon: the commentators here belong to the sub-one percent of the population who have figured out something is wrong

they also belong to the subset of the population who have good English language skills

#74 Linda on 02.27.15 at 9:23 pm

Regarding immigrants – pretty much all Canadians (including the Inuit & Indian tribes) are immigrants. They just trotted across the land bridge back in the Ice Age before the rest of us made it to these shores is all. Plus I don’t see what the bother is about ‘immigrants’ buying here. Whoever sells to them is making out like a bandit, yes? So ‘ordinary’ folks can’t purchase at these prices. News flash – ‘ordinary’ folks couldn’t compete regardless of the source of the increase in property values. You keep on trying to keep up with someone who has millions when you have thousands at most, the source of your unhappiness is looking back at you in the mirror. Stop blaming others for your life & if what they have is what you want, work for it. Stealing from those who have or blaming them for your not having isn’t going to do anything good for anyone, including you.

#75 Mr. Frugal on 02.27.15 at 9:23 pm

Garth,

I can’t say that I agree many of Mark’s posts. But, in this case, I don’t think we was being xenophobic; perhaps just a bit insensitive. This is by no means the worst that has been posted here.

#76 Nerf Herder on 02.27.15 at 9:25 pm

#23

If you’re talking about the tunnels in the basements of the mood jaw downtown, I don’t recall seeing ANYTHING about Chinese immigrants in those tunnels. Did I miss something?

AND stereotypes don’t happen out if the blue. Like it or not, there is a lot of Chinese investors who are speculating. Garth can call them Canadians, but they have come here with a lot of money and are changing our lives. Yes, you can argue it’s good for Canada.

#77 Sponge on 02.27.15 at 9:26 pm

My current balanced diversified portfolio:
10% XBB
10% XSB
10% CPD
10% XPF
08% XRE
16% XIC
14% VUS
04% XSU
14% ZDM
04% XEC
…. Missed the dropping loonie so hedging to CAD!?

Let Mark stay if he behaves.. With the apology ;)

#78 Dave on 02.27.15 at 9:28 pm

Hey Garth; Wish you had included a hundred dollar donation to the SPCA…but aside from that, I think he should stay.

#79 young & foolish on 02.27.15 at 9:30 pm

“My thesis has been that real estate values have been mostly impacted by the advent of cheap money …. ”

Would not this cheap money be also impacting the value of equities and other financial assets?

People don’t buy equities with 5% down. — Garth

#80 SealTeam0 on 02.27.15 at 9:30 pm

Mark is an asshole and a know it all. Now he’s just snivelling and lying.

#81 kommykim on 02.27.15 at 9:31 pm

RE: #18 I’m stupid on 02.27.15 at 7:32 pm
Unless you’re First Nations, you’re the descendant of an immigrant.

Actually, unless you are an African living in Africa, then you are the descendant of an immigrant.

#82 Smoking Man on 02.27.15 at 9:32 pm

If world leaders don’t start playing nice, this is how most of us will go out.

Fascinating actuly. Which sucks, I’m waiting for an asteroid to hit the ocean so I can boat serf.

http://thebulletin.org/what-would-happen-if-800-kiloton-nuclear-warhead-detonated-above-midtown-manhattan8023

#83 Washed Up Lawyer on 02.27.15 at 9:33 pm

#57 Mark

Garth:

A conditional sentence is warranted. Also, with your level of enlightenment, I am surprised you would advocate a result dependent upon mob rule.

Allow Mark to post.

#84 Cory on 02.27.15 at 9:34 pm

I guess not everybody makes money in real estate even after 5 years. What a whopping loss.

http://www.theglobeandmail.com/life/home-and-garden/real-estate/price-slashed-to-move-calgary-penthouse-condo/article23233738/

#85 benchwarmer on 02.27.15 at 9:38 pm

Who cares, SPOCK’S DEAD!!!!

#86 DisgustMadeMePost on 02.27.15 at 9:39 pm

On top of us longtime locals with bloated mortgages, there’s probably lots of ways money is being laundered through the real estate market. Was just speaking to one of my kids’ instructors, originally from HongKong .. his view was that so much money is being brought in by corrupt Chinese officials that its having an effect on the market. He laughed when i argued the point saying money is coming in and some agent he knows sold 12 places last month. He says it’s not withdrawn from any type of account as no one knows they have this money.

Who knows?! Maybe he’s fallen for the same propaganda?

I’m also a first generation immigrant and have no problem with immigration.

However, I am glad to see the new investor immigrant program goes a long way to correct some of the pitfalls of the previous program. Burned my Azz to see money jump ahead of other people in need of a safe home in our great country. My parents waited 2 years in a refugee camp in Italy before being ALLOWED in. 4 kids all educated and contributing members of society. Sorry , I’m not going to apologize for wanting the RIGHT people here. Has NOTHING to do with race. I dont care who you are, but come to embrace a new home …

And while I’m rambling… The street I live on is on the West side ( but not too far west)… I have not seen a light on in 6 of the near by houses across the street. Been here over 2 years… I have no idea what the H is going on but it sure does not make for a warm friendly neighborhood !

#87 Mic on 02.27.15 at 9:42 pm

Glad you brought that up. I was a bit obfuscated when I read yesterday’s comment.

I don’t know anybody who didn’t get her medical doctorate through hard work and dedication.

Like I keep reminding my teenage nieces and nephews, if you make up excuses for your lack of accomplishments all you be left with is a big bag of regrets.

Suck it up and make things happen. …and, oh, be happy for other who MADE things happen for themselves.

p.s. screw you Mark

#88 Neta on 02.27.15 at 9:45 pm

Today I opened the Wikipedia article about Janet Yallen.
In 2005, when she presided over the San Francisco Fed, she recognized the “significant distortion” in housing market, but argued against popping up the housing bubble sighting that the negative effect of it overweight the positive.
I guess our leaders also concerned about “valuations” in Canadian housing market (in their own words, they are “carefully monitoring the housing market), but perfectly realizing what collapse of it would do to broader economy (and their own political future), kicking the can down the road as far as possible (at least till the next election)

#89 Nick on 02.27.15 at 9:47 pm

I don’t always agree with Mark but banning him is censorship and denial of free speech. I don’t think you can argue that what he said is “hate speech” by any definition.

If you find his views disagreeable, debate them. If your response to him is to ban him, then your are saying you only want to hear from the syncophatic blog dogs who write to say they took your advice and are now millionaire renter investors. That will devalue your blog tremendously.

I’m willing to contribute, despite your frequent sneering responses, but if you ban Mark I’m not likely to return.

I’m sure response to this will be “so what” and I wouldn’t be surprised to see you delete this post. Prove me wrong and show you have some integrity.

Actually you can just get lost. — Garth

#90 Maggie the Tech Writer on 02.27.15 at 9:48 pm

Over the years a number of blog dogs and blog bitches have posted deeply sexist, offensive remarks. Some of them made me feel unwelcome and others left me ashamed of sharing a gender with the poster.

While Mark’s comment was obnoxious, I didn’t feel the level of animosity and bitterness that has radiated from others on occasion.

I would like him to stay, provided he offers a genuine apology (that is, not

“If I was a bit brash and uneloquent in my wording, I definitely apologize, but …”

Yes, you were, Mark. No “if” about it, and your excuse reeks of resentment. If you don’t understand why you were offensive, why not ask? Many will be glad to explain. Once you understand why your remark was hurtful, you may be eager to say you’re sorry.

#91 Herb on 02.27.15 at 9:49 pm

I support Mark.

#92 wallflower on 02.27.15 at 9:49 pm

9 JSS on 02.27.15 at 7:20 pm

Come on, give Mark another chance
= = == = = = = = =
ha ah ha ha aha h
i luv this blog

#93 For those about to flop... on 02.27.15 at 9:55 pm

I don’t care if you know who is allowed to stay or is booted.
I also don’t care what colour that bloody dress is!

#94 Marco on 02.27.15 at 9:55 pm

@James

“For instance, David Suzuki has advocated ending immigration, on environmental grounds. ”

Mr. Suzuki says he’s for immigration for humanitarian reasons and not for economic reasons.
The thing with Mr. Suzuki is though, his carbon footprint is bigger than the average Canadians, he owns a number of properties. He doesn’t live as frugally as you would expect from some of his rhetoric.
I just look at him as another entitled Boomer, no insult intended.

#95 meslippery on 02.27.15 at 9:56 pm

yesterday Non Plused #131

Russia has a closed loop motor design that eluded American designers which is more efficient,
———————————
Eluded. Would be the wrong word then.

#96 Sue on 02.27.15 at 9:56 pm

Mark: “…I definitely apologize, but…”

Poor man. Can’t help himself. ;-)

I’d say it’s a troll, but it actually has nice fuzzy ears…

#97 Alero01 on 02.27.15 at 9:58 pm

Excellent post, Mr. Turner – thank you.

#98 Keith on 02.27.15 at 9:58 pm

The issues around immigration reflect a growing frustration of the vast majority of Canadians who find themselves with stagnant incomes, in an era of economic and productivity growth over time. The gains in the economy are not going to workers, they haven’t been in a long time and they may never again. The business owners and holders of capital are taking a disproportionate share at ever decreasing tax rates.

Canada has long been rich in natural resources, and impatient to exploit them and reap the benefits. The policy of federal, provincial, and now municipal governments have been in accord for some time now, and it reads SELL OUT. We sell out natural resources at low royalty and taxation rates, in exchange for well paid highly taxed workers, unlike Norway. Unfortunately over the decades, capital and innovation has cut these blue collar union jobs down to a fraction of what used to be.

LNG is supposed to be a 100 billion dollar industry in B.C. First news on the taxation front, the proposed royalty put the foreign investment in doubt. Like magic, the rates were adjusted downward and now the taxpayer benefit has been compromised.

In the 50’s 60’s and seventies, immigration came virtually broke, into an economy with mostly sub 5% unemployment. They took the jobs that were going, didn’t take government benefits, and they played a major role in building the economy and the nation. Most of us are part of that reality.

Today the governments at all levels are selling out to the highest bidder, and we accept more and more foreign ownership of our economy in a global world. In the past, we got a well paid job out of the deal, now we get stiffed. That is what has people uneasy as they look down the road for their children and grandchildren.

BTW, I took a look at listings on the west side of Vancouver, new to one year old houses at 3.9 million to 13 million (in order to get a sample of an even 50 listings of new homes). Forty three of the fifty listing agents had an “Asian” name. Twenty three of the fifty listings included a “wok kitchen” or “wok room” in the property description. An influence can be inferred there. Explaining the entire B.C. property market? That would be a stretch.

#99 Willy H on 02.27.15 at 9:59 pm

Banning Mark does seem to be a little over the top in my opinion.

“I disapprove of what you say, but I will defend to the death your right to say it.” – Voltaire

#100 Bobs ur uncle on 02.27.15 at 9:59 pm

I must begrudgingly admit that I don’t think Mark is a card-carrying bigot. He just doesn’t know when to call it quits, and IMO is generally full of it. I now just skip his posts, and would be happy if he were gone.
But if I can only judge him by the crime of being off-base and generally annoying, he wouldn’t be the only one who should get the boot. So…um…let him stay?
Ugh.

#101 wallflower on 02.27.15 at 10:00 pm

#16 Marco:
I read this at your link provided.
Q In a blog post last year you wrote that wealthy clients in China are more interested in placing their children and a portion of their wealth outside of China than they are in immigrating themselves. Why do you think that’s the case, if it still is the case?

A It still is the case. If you’re a wealthy Chinese individual it’s likely because you have a large business still in China. China does not recognize dual citizenship and it’s just more difficult for you to actively operate your business without Chinese citizenship. So a lot of people, they’re not willing to give up their business so they’re not willing to give up their Chinese passport either.

This is fascinating. Something that would be interesting to explore is of the Chinese immigrant families with income earning fathers or mothers in China (mostly fathers because from what I saw in Vancouver in 2014 is kids and moms, no dads), how many are reporting tax returns that are single spouse? and how does our tax system treat these kinds of families, where one spouse is not resident (nor a citizen) but the chief income earner for the family? It would be interesting to learn if they are treating themselves as “separated” – much like what widows did (and maybe still do) as reporting themselves as single to continue to receive the highest CPP payouts, yet while living in common law with a new live-in partner.
On the other hand, my next door Markham Shanghai neighbour told me he was a Canadian citizen yet spent 11 months (and sometimes 12 months) running his business in Shanghai. So something doesn’t sniff right. How are they doing these things?

#102 Ruane on 02.27.15 at 10:00 pm

Let Mark stay, Garth. At least give him the chance. If you feel he needs to apologize to stay, it’s your blog, you can decide that. Then Mark can decide if he wants to apologize.

I will weigh in and say that it is actually possible that Mark didn’t mean what he said in a xenophobic/hating-on-immigrants kind of way. I haven’t read ALL of Mark’s comments, so obviously I don’t know whether that’s the case, and anyway, there’s no way to really suss out his motives, but from what I’ve read I suspect he is the kind of person who might make that comment in an attempt to clarify, temper or correct the original poster’s statement (you can argue if you want whether Mark’s perception of reality is in fact accurate but that’s irrelevant here) without meaning it hatefully at all, not realizing that that is how most people would interpret it.

#103 Ice Flows on 02.27.15 at 10:01 pm

Garth makes the rules. If the dogs can play by them, let them play.

We will wait and see if Mark can play by the rules (conditions.)

PS: You picked bad night (Friday) for a plebiscite there Mark.

#104 David Lee on 02.27.15 at 10:01 pm

Re: Mark

I would like Mark to stay but I just wish for once he could use data to demonstrate his “sales mix” theory.

It’s not that the “sales theory” is not plausible. If fact, I want to believe it. But I’m a numbers man. I’m sure some of the other dogs here feel the same.

#105 Smoking Man on 02.27.15 at 10:02 pm

#83 Washed Up Lawyer on 02.27.15 at 9:33 pm
#57 Mark

Garth:

A conditional sentence is warranted. Also, with your level of enlightenment, I am surprised you would advocate a result dependent upon mob rule.

Allow Mark to post.
…..

I’m sure Garth would, but mark won’t be back, he’s ego was ten times the size of mine, if you can Imagen that. It’s going to be a pride thing with him.

He had some kind of God complex, probably getting banished will screw him up in the head then he becomes a serial killer.

#106 Nosty, etc. on 02.27.15 at 10:07 pm

#76 Smoking Man on 02.27.15 at 9:32 pm — “If world leaders don’t start playing nice, this is how most of us will go out.”

Hey there, SMan. This came in about a couple of hours ago. It’s not Russia, but Venezuela that Washington wants regime change in (hence the slump in oil prices). Things are somewhat closer than they appear!

#107 two thumbs down on 02.27.15 at 10:09 pm

The blog was much better without his tedious typing.
I vote for banishment .

#108 Peter on 02.27.15 at 10:10 pm

Hi Garth,

I am a first generation immigrant. My experience in this country has been a happy , prosperous one. I am thankful, being born here I neither took someone else’s job or was given one for free. My bad experiences as an immigrant came from lots of people of different heritages that came before me , English , Italian , Jewish , Scottish. From those same groups I got lots of encouragement and help along the way. You have to have thick skin, period.

I do not always agree with Mark , but he is no where near the worst commenter on here. I have heard Don Cherry from CBC say way worse than that on live TV , subsidized by tax payers.

I do not resent the people who put me down that were here before me. There comments spoke more about them as individuals than anything else.

I do not comment a lot but I think Mark should be allowed to post. And to Mark, posting less can help and like SM says, add some humour sometimes. Mark, I stand on guard for thee, good luck!!

#109 Econoom on 02.27.15 at 10:12 pm

Garth Turner: Social Justice Warrior

Title of your next book, perhaps?

#110 Rebecca on 02.27.15 at 10:13 pm

Thank you for rejecting xenophobia, Garth. As a “born and raised” Canadian, I feel embarrassed by attacks on my fellow citizens for the crime of not being born to Canadian parents (and let’s be honest, they really mean white parents). Immigrants are Canadians, they form the backbone of this economy, and they are NOT stealing jobs. I work in the tech industry, and we have more openings than we have qualified people available. And despite zero evidence to support their theories, many of my fellow Vancouverites blame our real estate problemsw on anyone and everyone but ourselves.

#111 Ice Flows on 02.27.15 at 10:22 pm

Thanks to Garth for the public space and great blog.

Higher taxes on vacant condos in Van is a terrible idea. At best this is a strata issue. Vacancy is good for city budgets.
It hurts businesses that base their marketing plans around presumed local residents. If that top of the radar for the city it needs to get it’s priorities straight.

#112 Ruane on 02.27.15 at 10:23 pm

@Mark

Mark, I think people here are upset because you may have hurt the original poster’s feelings – she was proud of what her family has accomplished. I think they thought you were speaking to her with malice, and that you were motivated by hatred, fear, or resentment toward immigrants.

I think she was sharing their accomplishments in an anecdotal kind of way and to express her support of immigrants through her pride in/approval of what her beloved family members are doing. In that context it wasn’t really necessary or helpful to point out what you did.

PS – Please don’t be offended by what I’ve posted here and above. (I’m not calling your perception of reality into question above – I honestly have no idea about it one way or the other – I am only acknowledging that others might and was hoping to forestall any comments that might come out of me mentioning it, which would distract from what I was trying to say.) I’m told I can come across as pretty condescending but I don’t really mean to. If I’m wrong, please feel free to correct me.

If anyone else thinks I’m wrong or I’ve misunderstood the situation you are also welcome to correct me.

Thanks.

#113 young & foolish on 02.27.15 at 10:24 pm

… thumbs up on Mark

#114 Vivek on 02.27.15 at 10:24 pm

While we’re at it, it’s not that easy:

http://www.macleans.ca/economy/business/land-of-misfortune/

Immigrant. Settled. 30 years old. Not from Europe. This year’s Box 22 on T4: $25699.07.

And yet it pains me when I read comment sections on most Canadian sites – the prevailing assumption is that foreigners are on welfare/steal jobs/bring crime/etc/etc/ while the way I see it, me and many of my immigrant friends have been net contributors to this country.

Xenophobia is silent/behind closed doors in this country but it’s there. I’m happy that at least one person acknowledges that. Thanks Garth.

#115 Ken Nash on 02.27.15 at 10:25 pm

First up I post using my real name. I agree with the banished poster. Not for the jobs which are stolen premise. But for the professionals Canada seems to think it’s okay to steal from other countries.

If Canada needs professionals it should train it’s own. In the 1980s I saw a news report of the then President of South Sudan. The President was in some town in Britain and had complaint. There where more Sudanese, British trained doctors in this English city than in all off South Sudan.

The President was empathetic, the country was poor and the cost to train a doctor to his country was onerous. Training a doctor was like the USA launching a shuttle mission. It was unfair to steal professionals from them and needed to stop. It didn’t and look what happened. Civil war.

Sure professionals help make Canada better and the country benefits. There has to be more to it than we win you lose? Professionals on the cheap for the economy and millennials stranded in university debt and no job prospects. Meanwhile in the states Obama is dreaming about free university for the willing to educate it’s own.

This is not a xenophobic view. Though it’s too easy for other’s to say it is and shut the debate down saying it is so. It is a nurturing view what some countries need to stand on their own. Keep their professional classes. I’m with HD let Mark off with warning.

#116 Obvious Truth on 02.27.15 at 10:26 pm

Seems to me this blog is about exposing what’s good about our great nation while highlighting some of the false mainstream narrative.

Thus terms like [email protected], ham and F(may he rest in peace).

From the time I’ve been turned on the Garth’s nightly information sharing I’ve heard from all sorts of folks who have broadened their perspectives and become tolerant of others. That is the big win in all of this.

To highlight the false narrative it needs to be exposed. Perhaps that is what occurred on this blog yesterday and today. The blog entry today and the conversation around it is likely a new high.

We have exposed the good.

I feel like WUL’s second chair!?

#117 Andrew Woburn on 02.27.15 at 10:26 pm

Mark strikes me as bright but a little socially tone deaf more than racist. Apart from his uncharacteristic remarks of yesterday, he has been unfailingly polite, even under provocation.

Like the Smoking Man, Mark seems to polarize opinion on this blog. Maybe some people see him as the annoying kid in class who had to answer every question, but he at least gives you something to disagree with.

One of the great values of this blog is you get to hear from an incredible cross-section of Canadians in a way that the mass media cannot imitate. Even if some of the opinions leave you shaking your head, you are wiser for knowing how other people really think.

I have also posted one or two items that have embarrassed me in retrospect so I am not rushing to judge on the basis of one occurrence. I would support Mark’s continuing participation.

#118 devore on 02.27.15 at 10:27 pm

“With the loonie falling about 10% against the U.S. dollar in the last six months,” said the Financial Post yesterday, “foreigners who have their money parked in greenbacks or in currencies pegged to the American dollar are likely to ramp up their interest in the Canadian marketplace, say industry experts.”

Of course. When the dollar was high, foreigners were buying because they like a strong currency. Now that it’s fallen, they buy too, because they’re getting a deal.

Apparently, it’s always a good time to buy.

#119 The real deal on 02.27.15 at 10:30 pm

I remember reading about a comprehensive study done about supply/demand ratios in commodity markets and implied percentage changes and resulting price differentials. It was determined that just a 4% change in supply/demand effectively doubled/halved price in the effected commodity. This is a very good rule of thumb if you are trading, for example, oil. The 2 million barrel a day surplus in supply last summer effectively halved the price of oil. At roughly 75+ million barrels per day 2 million barrels equals out to 3 % which should by the studies conclusions chop about 40% off the price pre surplus. Throw in 1% weaker demand you got your 50% off sale.

I don’t think real estate and commodities are much different. While drastically less liquid, real estate does have the inherent leverage and large funds found in the commodity markets. Supply and demand mechanisms are very similar, mining/construction are the basis of supply and the end consumer in both cases are demand. In regards to Vancouver, I reckon 4% HAM would effectively double the market over what the normal population would under normal circumstances (no change in supply). Even just 2% would skew the market 50% higher.

Port cities and financial hubs are famous for this, and it ain’t just HAM either. London is unaffordable due to Russian/Arab money. New York – fowgeddaboutit. Hamburg – I can find a house for 50 grand within an hour, but if you want to live near the harbour better add another 0. Frankfurt is equally as expensive. Find the biggest port city and the financial hub of any country and chances are you are competing against international $$$ for supply. Don’t want to compete, move somewhere cheaper.

#120 saltpony on 02.27.15 at 10:31 pm

When I read Mark’s comment yesterday, I thought , “That’s it. I’m done reading this blog.”

Please apologize, Mark. If you can’t see the glaring xenophobia in your words, then you really don’t get how deeply offensive your comments were.

heartfelt apology = stay
justifying position = gone

Thank you for allowing us a voice on this one Garth.

#121 devore on 02.27.15 at 10:35 pm

#14 harry

I really liked todays post. I all ways was skeptical of the stories about the Chinese driving up the prices so significantly

It’s quite appropriate to be skeptical of anything that is being reported hysterically. Usually serves an agenda that is not in your interest, and probably pilfers your pockets.

#122 RayofLight on 02.27.15 at 10:38 pm

I would not be at all surprised if all mankind turned out to be a descendant of an extraterrestrial(s).
Where that would put the immigration into Canada arguments? Like all trends, it is all about timeframes.

#123 dienekes on 02.27.15 at 10:38 pm

I would remind everyone, First Nations are immigrants too.
Actually I believe the reason there is so many problems in their communities is they came to the “western world” by going East.

#124 Ole Doberman on 02.27.15 at 10:39 pm

I’m of immigrant folks too that took any job they could and sometimes two to make ends meet and raise a family of 6.

Since we’re on the topic a thought that comes to mind is I notice many of the immigrants coming over are working at Walmart, Safeway and Tim Hortons to name a few – so I don’t see how those types of jobs are propping up the real estate market at these levels.

But it still hard to overlook how many Asians & Phillipinos I see around Calgary, and no need to mention how many more in whats dubbed “Hong-couver”

#125 Hawk on 02.27.15 at 10:44 pm

#57 Mark on 02.27.15 at 8:34 pm

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

Well here’s a first generation immigrant from one of the most unpopular places on the planet, that hopes you get to stay :-) if for no other reason that I am a free speech absolutist

This is ofcourse a private blog, but in more general terms the point of free speech that most of the western world has completely lost sight of, is precisely that it’s meant to facilitate that which is ordinarily considered disagreeable, unpleasant, unpopular, repulsive etc , but which leads us to question things, rather than accept them blindly and enforce artificial conformism.

On a lighter note, one of the main challenges Canada faces with regard to its immigration issues, is mainly the scale of it. People take time to integrate, assimilate, find work and build a new life. For a country to do that with 200,000 + people every year is very difficult, both for the country and the people.

Anyhow your long winded posts with some very far fetched theories about interest rates, currency appreciation etc are all quite amusing to read, if only partially accurate :-)

Stick around………..the more the merrier

#126 Michael on 02.27.15 at 10:46 pm

Check the latest stats package from the GVREB. High-end properties have appreciated much more than entry-level homes have. That wasn’t true until the last 5 years or so. And considering CMHC no longer insures the +$1M properties, it’s obvious to me foreign money is driving this market.

#127 Smoking Man on 02.27.15 at 10:48 pm

Nosty, Putin’s response to the murder.

“Putin has stressed that this brutal murder has all [the] signs of a contract murder and is extremely provocative,” Mr. Peskov said. “The President has expressed his deep condolences to the family of the tragically deceased Nemtsov.”

The words Extremely Provocative should scare the crap out of anyone born with deductive reasoning skills.

As we chime I’m on Marks fate tonight.. I’m scrambling to find my hidden supply of iodine pills.

This was a red line, John McCain, high fiveing his pall Lindsy Grammar on mission accomplished, have know idea they just made Putin take the safety off the revolver.

They took a dump in his back yard.

If the protests go ugly in Moscow, gloves are coming off.

#128 Mister Obvious on 02.27.15 at 10:50 pm

Boot him out. Let him stay. Makes little difference to me. He’s long been a ‘skip-over’ in my estimation anyway.

And I’m quite sure I’m a skip-over to many others. You’d waste far too much of your life in this comment section if you didn’t carefully pick and choose.

Except, of course, for Garth who has no choice.

Poor fellow.

#129 bill on 02.27.15 at 10:51 pm

Mark : Please apologize immediately. no vote from Adele and Bill until you do so.

#130 D C on 02.27.15 at 10:52 pm

Reminded of a saying tonight in a science journal that applies to the foreign real estate ideology (and other financial issues for that matter):
The plural of anecdotes is not data.

As for Mark, won’t miss if gone, okay with conditions. Needs a short leash. This attitude is not a one-off, I myself reported him on another website for similar xenophobic commentary.

#131 Andrew Woburn on 02.27.15 at 10:55 pm

To an alarming degree, public policy making has become dependent on computer modelling. One field in which this is definitely so is macroeconomics whose practioners influence decisions made by governments and central banks that affect every one of us. The respected financial commenter, Frances Coppola has poked holes in macroeconomic modelling by pointing out that it takes little notice of the financial sector. In an age when Wall Street has virtually overwhelmed Main Street in importance, she says this leads to bad decisions.

“Clearly, the exclusion of the financial industry from models of the macroeconomy was a major omission. Equally clearly, the fact that most macroeconomists did not, and to a large extent still do not, understand the mechanisms by which money is created and circulated in the modern monetary economy, is a big, big problem.
Central banks are now “adding” the financial sector to existing DSGE models: but this does not begin to address the essential non-linearity of a monetary economy whose heart is a financial system that is not occasionally but NORMALLY far from equilibrium. Until macroeconomists understand this, their models will remain inadequate.

But macroeconomists are not oracles. It is their job to identify trends, not to predict specific events; it is both unreasonable and dangerous of the public to expect them to play the prophet. Macroeconomists have been cast in the role formerly held by priests and shamans, a role they appear to have welcomed though they are ill-equipped to perform it. They have garbed themselves with the cloak of infallibility and the breastplate of omnipotence. The financial crisis stripped them of these trappings, revealing them to be, underneath, somewhat skimpily clad.”

http://coppolacomment.blogspot.co.uk/2015/02/the-failure-of-macroeconomics.html

#132 drydock on 02.27.15 at 10:55 pm

#107 Smoking Man on 02.27.15 at 10:02 pm

Or a serial killer, serial killer.

#133 Leo Trollstoy on 02.27.15 at 10:55 pm

…stats won’t change the minds of those who hate without thinking, or blame others for their shortcomings…

Yup. That’s Mark. He always blames outward. In his own mind he’s the authority on everything. Delusional. Unenlightened. I feel sorry for the guy.

#134 Tony on 02.27.15 at 10:56 pm

Re: #17 Guy on 02.27.15 at 7:31 pm

I know a lot of people from the First Nations. They can get you great tax breaks. I used to sponsor John Lee Gibson back in the 1980’s before the art market went kaput.

#135 Steffano on 02.27.15 at 10:56 pm

Garth Mark should not need to cowtow before you I have know doubt that his IQ is slightly above yours You bait many blogers And then feign outrage at predictable responses The irony with this blog is that it questions the veracity and motive of the real estate industry But then aggressively restricts an open forum Mark is one of the main reasons I read this pathetic blog God forbids he is not perfect in your eyes

Lots of people are smarter than me. It’s not a license to be a dink. — Garth

#136 Leo Trollstoy on 02.27.15 at 11:01 pm

Can Mark have a second chance?

Second chance?

From what I’ve seen, Garth has been extraordinarily tolerant of Mark’s self-important and completely incorrect babbling.

Second chance?

If Garth gave Mark another chance it would be #82. Lol

#137 devore on 02.27.15 at 11:02 pm

#42 crossbordershopper

I actually agree with Garth, the points he missed are that 2nd and 3rd generation kids of immigrants are generally wealthier and more educated than their counterparts.Like me.
Some people are simply lazy, Canada does that to you.

Does the comfortable, safe life in Canada make you soft? Spoiled and entitled? Maybe. So many posts just here about how housing, even rents, are soo high in Vancouver. No they’re not. There are plenty of affordable rentals. They’re not downtown, but who would settle for living in a studio in Surrey, when your parents live in a $2M house? While many recognize they have to live within their means, even with roommates (the horror!), there is a sizable contingent whose whining matches their expectations. And who do they blame? Everyone but themselves.

#138 Leo Trollstoy on 02.27.15 at 11:06 pm

If I was a bit brash and uneloquent in my wording…

No you were xenophobic, discriminatory, insulting, unappreciative, disrespectful and moronic. There’s a difference.

#139 robert on 02.27.15 at 11:06 pm

I am a retired Canadian and grew up in this Country and watched many immigrants work very hard and build lives for themselves and their families. They worked hard and made great efforts in adapting to the Canadian culture and were proud to be Canadians. They respected their neighbors they cared about their homes and they paid taxes just like the rest of us. They did not receive special tax considerations and they above all were happy to be Canadians.
There are a group of immigrants who have now come to our Country with no intention of adapting to Canadian Culture. Their culture is for men not to respect women they take advantage of special employment programs at times you watch them remain seated during our Canadian Anthem. I am shocked Garth that you did not respect this persons freedom of speech and even if his post was distasteful he has the right. You see i read very slanderous remarks about Realtors on your post and although i believe labeling all realtors is very unfair and biased i do not see these posters being banned. Do you think it is appropriate using language like realtards. Do not for a second tell me that all immigrants are deserving of the generous opportunity to live work and raise their families in Canada. What about CIBC terminating full time jobs held by Canadians in order to hire workers from India or how about CP hiring some old arrogant quasi criminal from the US who rode in with all of his hedge fund buddies and raped another great Canadian Company while devastating many hard working Canadian families. You see Garth sometimes the truth is very ugly! Our banks have lost control and on a daily basis suck the life out of hard working Canadians while the poor people at the counters make $36,000 yearly and the President takes home millions. You political types are no different my friend, get elected serve a term or two then collect a pension for life. Imagine your rhetoric about us retired folks who paid in their entire lives and you question whether we deserve $500 a month. The Great Reckoning predicted many years ago that this will all end with blood in the streets and we sure seem to be heading in that direction.

#140 NoOneOfConsequence on 02.27.15 at 11:06 pm

RE: Mark – don’t ban him forever, but he shouldn’t be able to post for the next 2 months. He needs to pay the price for being an ass.

Too often we all let the purveyors of hate speech, sexist and snide comments, rudeness, bullies, etc get away with their poisonous commentary. Or let them skate by with a half hearted ‘just kidding…”.

Why is it that so many people preaching about “free speech” generally follow up with racist, sexist, or xenophobic comments?

If we want to start making this world a better place, well then the first thing we need to fix our “free speech”.

Maybe we should all start thinking about “clean speech”. Communicating information without attempting to stoke intolerance.

Mark needs to pay the price for his poor judgement.

I say ban him….but only temporarily. Just long enough for him to reconsider his prose style.

His future comments will be even better than his past ones.

#141 Retired Boomer - WI on 02.27.15 at 11:08 pm

#57 Mark

I vote for the restoration of Mark, based upon your two conditions.

As a member of that race, the so called Human Race, I understand we all can say, or print words that might read innocuous to ourselves, but may across as highly insulting, or insensitive to others.

I am sure regular readers have seen things as minor as a typo completely flip an intended meaning.

#142 Leo Trollstoy on 02.27.15 at 11:12 pm

“I disapprove of what you say, but I will defend to the death your right to say it.” – Voltaire

Hey I remember this quote! President Obama used it just before he strengthened the NSA surveillence apparatus, hunted journalists and their sources, and covered up some IRS and torture investigations. Great quote tho!

#143 Wildnutter on 02.27.15 at 11:13 pm

Bars are still pumping in yyc. Party on.

Censorship is never the answer. Let him spew. Very mean spirited comment. Way over the top. But he should get shot down in the open.

I’m with SM. get out the iodine pills. Talk about black swans. The world just got a hell of a lot crazier .. If that is possible!

#144 Leo Trollstoy on 02.27.15 at 11:13 pm

Too often we all let the purveyors of hate speech, sexist and snide comments, rudeness, bullies, etc get away with their poisonous commentary. Or let them skate by with a half hearted ‘just kidding…”.

I agree. Hate speech shouldn’t be confused with free speech.

#145 tundra pete on 02.27.15 at 11:16 pm

Chinese, japanese, swede, whatever. If you feel you deserve a house at a decent price in 604 or wherever why did you wait so long. Doesnt matter where it comes from if you cant afford it dont bitch about it. Buy in an area you can afford. The 4.7 million house in point grey will always be the 4.7 million house in point grey. If you can only qualify for 300.000 in mtg……well you cant have the 4.7 million house in point grey. A racist attitude wont change that.

#146 Saskatchewanivian on 02.27.15 at 11:18 pm

To: Garth: Thank-you for this article. And, by the way, I loved your article “TAX THIS” so much that I printed it off and put it in my husband’s lunch box so he could read it on his coffee break! I liked your tone in it – rather than harp on the perks rich people get, it inspires me to become part of that higher class: educate myself and make choices leading me to financial independence.

To: #23 prairie person: Thank-you for your comment. I agree. We should all tour the underground tunnels in Moose Jaw.

#147 nonplused on 02.27.15 at 11:20 pm

“MGTOW”, great handle.

Good post today Garth a reminder of several issues we all need to keep in mind.

#148 Don on 02.27.15 at 11:21 pm

Re: Mark

No excuse for him not communicating his point without a slant – one can always clarify. Must consider the feelings of others.

1st Strike

Let him stay if he apologizes.

Sorry to the blog is not good enough. Must have consequences. HSBC could learn from consequences not just an empty apology.

#149 Frank Blood on 02.27.15 at 11:28 pm

Let Mark stay… So long as he stops dissing health care professionals

#150 Wonder Boy on 02.27.15 at 11:32 pm

“It’s not a license to be a dink. — Garth”

Garth you are a dink. You do know that right?

Hon. Dink, please. — Garth

#151 devore on 02.27.15 at 11:32 pm

#95 For those about to flop…

I also don’t care what colour that bloody dress is!

You should care.

Actually, I’d like to know whether the people who really see it as black/blue see it as fully dark and saturated black and blue, or washed out.

To my eyes, and on my afaik properly calibrated monitors, the dress picture is definitely washed out. The white is a bit dirty, and has a tinge of blue, and “gold” is really a dirty, muddy brown/green. Putting the picture into image touch up software and decreasing the brightness by ~50% and increasing contrast by ~50%, the dress does appear black/blue, leading me to believe this poorly shot picture (washed out and without contrast) combined with the lighting and reflections from the fabric, and the technological limitations of the camera combine to produce the white/gold appearance.

The reason people should care, is when you look beyond the obvious. For example, eye witnesses are considered the gold standard in evidence, next to crystal clear HD video record. Unimpeachable. But recently it has become quite well known that they are not reliable at all, in fact. The way the human brain perceives, interprets and recalls visual information is very subjective and blurry. There’s a lot of pattern matching and “compression” happening. We don’t store the exact images, like a video file, but rather ideas and associations. If an eye witness testifies he saw someone in a white/gold dress, when the real perpetrator was wearing a black/blue dress, what happens to the presumed suspect coincidentally clad in a similar style white/gold dress?

This is an issue currently troubling the legal system. How do you deal with testimony, when perception and memory is so easily fooled, and can be tainted by biases, coincidences, experience, chemical (im)balances, neural pathways, optical illusions, and that’s not even going into intentional deception on someone’s part.

#152 Happy Renting on 02.27.15 at 11:32 pm

I like #142 NoOneOfConsequence’s suggestion. A period of exile, then a second chance.

I’m not sold on the apology portion, saying you’re sorry only because you’re prompted is worthless. I will take the opportunity to say to Mark: you made a total jackass comment. (Garth, thanks for calling him out on it.) Canada is fortunate to have anyone with skills and work ethic who will make an honest contribution to society.

#153 TRT on 02.27.15 at 11:33 pm

Disclaimer: I’m a Canadian of third generation descendent of immigrants from India.

AND. I think there are too many immigrants coming in and concentrating in ethnic ghettos in Vancouver and Toronto. Maybe limit immigration to 10,000 per country per year and that includes India. Am I an Indo-Canadian racist now.

Either you have a censored blog or an open blog.

No 50 shades of grey.

It’s a moderated blog. Deal with it. And try posting under only one name. Too many shades. — Garth

#154 gulnar on 02.27.15 at 11:34 pm

# Mark
You have spilled bad beans on this fertile blog. I feel the environment on the blog completely altered since your post
I think you deserve a chance.
May be living with decent people teaches you more etiquettes

#155 Cici on 02.27.15 at 11:35 pm

Pros and Cons of Giving Mark the Boot:

PROS

* The guy needed to see some sunlight and get some fresh air, and hey, maybe even meet some of his fellow Canadians (who all happen to have immigrated from somewhere else at some point) in real person.
* The guy submits some 100++ posts per night, meaning that Garth and the Amazons have to put in serious Admin overtime. Garth’s ankle is probably back to normal, meaning that he probably doesn’t want to be anchored to his chair reading long diatribes 24 hours a day

CONS
*Mark may be a paranoid schizophrenic with a tendancy towards psycho killer, in which case his non-stop obsessive posting would have been keeping him off the streets and out of danger, and out of prison too…making Canada a safer place while helping unburden national prison infrastructures. Now we’re not so sure where he’s lurking.
* Garth’s blog will be losing some 100++ posts a night, which drives down the viewer statistics and makes for less greater fool visibility

#156 Squatter on 02.27.15 at 11:36 pm

I heard that so many times:
“Foreigners are stealing our jobs”.
We hear it on the street, so why not on a blog?
Maybe it’s racist, or maybe it’s just an opinion.
Why is the government admitting 1 million immigrants instead of 100 000 or 10 million? We never got any explanation as far as I know…

It isn’t. — Garth

#157 TB on 02.27.15 at 11:43 pm

#20 – IM in C

Garth. I found myself in Vancouver the end of January. Decided to test out the HFM (@#$%& foreign money) theories being bandied about on your blog. On the way home I drove into Stanly Park and overlooked the condos of the Coal Harbor district. It was 5:27 PM on Monday January 26. Sun had set, it was dark. All those condo buildings should have been ablaze with light. They weren’t. Bottom line, these condos are for the most part unoccupied. Not going to speculate who owns them. Will say that this situation fuels the rising housing costs in the lower mainland.

——————————————————-

If you did this ‘test’ from Stanley Park at 5:27PM on a Monday, then my waterfront condo in Coal Harbour would have been one of the dark and seemingly unoccupied units since I was still at work. My neighbours were on vacation in January so their unit would have also been dark. I wonder how many other condos you observed were dark for similar reasons?

Coal Harbour probably does have more unoccupied units than other neighbourhoods in downtown Vancouver, but deriving a ‘bottom line’ on its occupancy rates because you looked at it from Stanley Park for a few minutes in January is pretty far fetched.

#158 Diversified in Oakville on 02.27.15 at 11:44 pm

Evening to all,
Mark?
Rasict and an idiot.
My vote is don’t let the door hit you on the way out!
Both my parents born in Russia, and busted their butts to make a better life.

#159 devore on 02.27.15 at 11:44 pm

#100 Keith

Today the governments at all levels are selling out to the highest bidder, and we accept more and more foreign ownership of our economy in a global world.

There is nothing stopping Canadian companies from investing in the same opportunities. That this period of “selling out” has also seen debt levels rise, savings plummet, and house prices rise, is not coincidental. Cause and effect.

#160 TRT on 02.27.15 at 11:45 pm

And Mark. Even though you are wrong most of the time, grow a set. Or don’t.

Apologies are for wimps.

There is irrefutable evidence that million dollar plus homes are bought by recent immigrants who bring in their wealth from overseas.

Don’t let anyone brainwash you. This blog is like 0.0001% of the Canadian population.

#161 B.lacksheep on 02.27.15 at 11:47 pm

Let Mark stay.

Censorship sucks more than he does.

#162 Obvious Truth on 02.27.15 at 11:47 pm

Does anyone else picture garth like Donald trump.

Conferring with Dorothy and bandit.

“Mark, you’re deleted”

“It was the right thing to do. He left us no choice.”

#163 Smoking Man on 02.27.15 at 11:49 pm

Dogs, marks not coming back.

As I type, he’s passing the rubber room he’s in, furious at the banishment, thinking. Why God, why does the ilitteret smoking man get to play, I’m far supplier, I can spell, exquisite grammar and vocabulary .

It blew a gasket in his coconut.

Your posts where informative, but reading them was like eating dry toast, eggs, with out salt, Starbucks coffee served by a strait guy..

You were boaring. I’m with the banishment crowed… Dink.

#164 MarcFromOttawa on 02.27.15 at 11:49 pm

Mark can stay on the condition that he starts engaging Smoking Man’s hilarious jabs at him.

P.S. Smoking Man, you’re not the only one with access to the UCC.

#165 Scott in Gibsons on 02.27.15 at 11:50 pm

Does a numbered BC company show up as “local”?

#166 HFT dude on 02.27.15 at 11:51 pm

I hope Mark gets a second chance. He generally brings constructive arguments to the discussion, but I must admit yesterday’s comment was idiotic and short sighted. Rehabilitation is still a cornerstone of our justice system.

#167 Totalchaos on 02.27.15 at 11:56 pm

As the original poster, I would like to clarify that I was writing about my spouse’s family, not my own. I was responding to Allison, who seemed to think it was a negative thing to have an elementry school with a high percentage of kids from non-English speaking households. The fact my in-laws are all in health care is immaterial – what is important is all five kids succeeded both academicly and financially and contribute to our community in many ways in spite of having non-English speaking parents.

I don’t often post because I feel extremely uncomfortable reading the frequent xenophobic and mysogenistic comments. When my family and I are in our community, we never get negative comments to our faces, but when I read this blog, sometimes I wonder what people are really thinking. Allowing negative comments normalizes these ideas.

Thank you Garth and all the dogs for posting their distaste for Mark’s comments.

Ban Mark from posting AND recieving health care, please.

#168 Cici on 02.27.15 at 11:59 pm

#17 Guy,

You might be right, but theory has it that human civilization started in Africa and spread out from there all the way to South America some 50,000 or 60,000 years ago. If that’s true, the great majority are immigrants.

#169 kommykim on 02.28.15 at 12:00 am

Let Mark stay if he apologizes.
I was surprised by the ban. I’ve seen worse things posted that simply generated a warning.

#170 Max on 02.28.15 at 12:00 am

I found his remark distasteful as an immigrant, but let’s not ban someone so quickly. I think being called out like this is perhaps enough for now.

#171 Fed-up on 02.28.15 at 12:01 am

Many of those posting and commenting on this blog are simply hilarious. Mark posts what is at best an aggressive and insensitive remark and people who come straight out and call him a moron, asshole, dink, idiot, accuse him being a bigot, racist, xenophobe, belittled him daily for months and tell him to go screw himself, feel that he and he only should apologize for directing that silly comment at 1 poster. Geez contradict yourselves much?

You’ve gotta laugh.

#172 Capital One on 02.28.15 at 12:01 am

I agree with many of the others – I’d keep Mark around. With the exception of last night, I find his posts very articulate and well-thought-out.

I know I’ve said things that I’ve regretted. Sometimes it took years, but I now regret them.

CO

#173 Capital One on 02.28.15 at 12:04 am

Here’s an idea Garth – similar to your “what’s your net worth?” survey?

Ask the regulars two questions:
– what is the shortest path in your family tree where someone was an immigrant?
– what is the longest path in your family tree where someone was an immigrant?

CO

#174 Former Fool on 02.28.15 at 12:10 am

I know I’m the new guy here, but if Mark apologizes, let him stay. He has some interesting viewpoints. Not sure what his overall track record is, but he certainly does give people food for thought. We all make mistakes and say things we later regret.

Regarding the article, it makes me mad that the R/E cartel can get away with so much misinformation. The constant hyping up of real estate has contributed to inflated prices and getting people to commit financial suicide.

I posted a couple of days ago, check out CREB.com. There’s this new metric, called “benchmark price”, and it shows R/E sales in Calgary are up from 426k in Jan 2014 to 459k in Jan 2015, or up 7.7%. WTF is this new metric, “benchmark price”? What the hell does that mean? You could define it to be the price of homes in Mount Royal only, or Crescent Heights, or Inner City homes only. Or all homes with 4 bedrooms, 3 baths, a garage, and a putting green in the backyard. I’m guessing they did something like that to make the stats look inflated.

I personally would like to see the realty profession provincially regulated.

#175 ANON on 02.28.15 at 12:14 am

“the poor people at the counters make $36,000 yearly”

_________
I suggest a (re)read of comment #116 for some 1-st generation fresh on the ground reality.

#176 shawnG in TO on 02.28.15 at 12:14 am

2 notes:

1) to Mark,
sometimes you seem the second most knowledgeable person around, other times it seems like you left your browser open while taking a leak, and a rebellious teenager used your account to post his dissatisfaction with world on these pages.

hard to believe it’s the same person.

2) mispricing of foreign currency is making $CAD too low vs. cny.

during the great recession, the Chinese central bank (PBOC) also printed about $1 Trillion of new money. It concentrated the benefits to a few, and caused RE in China in general to surge. normally when you print $1 trillion dollars (USD equiv) the value of the currency should go down. but political forces is keeping CNY up. the result is an apartment in China has nearly the same value as a detached house in Toronto. exchange a box in the sky in China for a nice house in Toronto is a pretty sweet deal for a new immigrant.

But let me make it very clear, HAM (or Russian or MidEast or whatever) is the biggest FUD the realtors can throw at the ignorant public: We don’t know how big is HAM; we don’t know where it comes from; and it is an outside force beyond our control. HAM is here to buy up all our houses and make us rent slaves, the only thing we should do is buy now or forever priced out of the market.

See, this stuff really works. and our politicians are unable / unwilling to collect true statistics to clear up the situation, so we are led to try out bid ourselves.

HAM is not a large force in our RE. One day we can no longer outbid ourselves. This will not end well.

#177 liquidCourage on 02.28.15 at 12:18 am

#84 Smoking Man..
I would not worry about a nuclear apocalypse (more fear mongering) The visitors would never let that happen.

#178 Brew on 02.28.15 at 12:19 am

I definitely won’t forget the meaning of “xenophobic” after tonight.

Conditional “thumb up” for Mark.

#179 Cici on 02.28.15 at 12:24 am

#54 Smoking Man

Good post! And no spelling errors…you sent it to Mark first for revision, right to help him deal with the loss of this blog? Bleeding heart softie, knew you weren’t such a tough guy after all.

Just one thing though, didn’t you say you vote NeoCon? Slightly contradictory there.

#180 Ponnaps on 02.28.15 at 12:28 am

#66 ‘Hard-working’ Canadians competing with ‘illegal’ immigrant money? Give your head a shake. You’ve lost it. — Garth

Dwelling on just ‘illegal’ obfuscates what I intended to convey.For the moment lets leave aside the ‘illegal’ avenues of which there is no dearth of possibilities, why don’t you believe the legal methods I mention above could be a significant contributor towards affording these overpriced properties?

#181 Mr. Frugal on 02.28.15 at 12:32 am


#169 Totalchaos on 02.27.15 at 11:56 pm

“Ban Mark from posting AND recieving health care, please.”

Seriously!!! You would deny him health care? Now who is being the disrespectful ass-hat?

P.S. Learn to spell. It’s “I” before “E” except after “C”.

#182 Sky on 02.28.15 at 12:33 am

Would it be considered racism if animosity is directed against your OWN ethnicity?

“HONG KONG: When 34-year-old Hong Kong singer and actress Ella Koon penned a column for the respected local paper Ming Pao on Jan 24 entitled Kick Out Hatred and Discrimination, she was trying to beseech her fellow Hong Kong residents to be more tolerant toward mainland Chinese visitors.

Instead, she has found herself pilloried online in a display of hatred toward mainlanders that’s become eerily typical over the past several years.”

http://www.dawn.com/news/1085179

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

“…demonstrators raising “Chinese people, get lost back to China”

http://www.chinasmack.com/2015/pictures/hong-kong-protesters-besiege-and-harass-mainland-tourists.html

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

“…Hong Kongers worry less about China’s nominally Marxist rulers than about China’s capitalist masses…Animosity toward mainlanders is such that many refer to them as “locusts….It’s the opposite of what was supposed to happen when the city joined the People’s Republic under the promise of “one country, two systems,” with Hong Kong allowed to preserve its relative freedoms under Beijing’s loose rule. Hong Kongers and mainland Chinese, long-separated siblings, were expected to gradually get used to living with each other. Instead, Hong Kongers have come to dislike their constantly visiting relatives.”

http://www.theglobeandmail.com/news/world/great-mall-of-china-why-hong-kong-resents-a-mainland-invasion/article4648927/

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

Following link:”Why do Hong Kongers dislike mainland Chinese?”

This forum explores this issue, the commenters being mainly (if not all) Chinese themselves. Most upvotes went to Cyrus Cheung who presents a very balanced post… but which does include this –

“…I also would like to add that the problems between Hong Kong and the mainland are not unique. There are similar problems between Shanghai and the rest of China, and Beijing and the rest of China. Shanghai people are also known to be very contemptuous of Chinese from other parts of China. Economic and cultural differences will always breed conflict…”

http://www.quora.com/Why-do-Hong-Kongers-dislike-mainland-Chinese

#183 Julian on 02.28.15 at 12:35 am

I vote to let him stay.

#184 gladiator on 02.28.15 at 12:40 am

Ok, I am a first-generation immigrant who 12 years ago arrived in Toronto on a Greyhound bus from the US. I had my share of good and bad and today I manage over 11 billion in CAD at an asset management company. I know that the Canadian system is very exploitable and is being abused by immigrants – heard real-life examples from other immigrants who know personally people who do this kind of things. I know that the immigration system has to be reviewed and overhauled. I know that lots of taxes paid by hard-working Canadians (born here or immigrants) are going to leeches of the system. I truly wish that those who receive financial help from provincial or federal authorities would be required to prove at least monthly that they indeed looked for a job, sent out applications, went to interviews -at least did something to get a job – and if the proof is not good enough, the funding would stop until new proof is provided. I want my taxes to go to progressive goals/destinations. I want immigrants to deserve their stay in this amazing country AND contribute their share. But, knowing this is not the case, I came to view immigration skeptically and I do not believe that it is the saviour of Canada at least in its current state.

I vote for Mark to stay with us. He provides an interesting angle of things we deal with and even if I don’t agree with his views 100% of the time, at least I get good food for thought from his posts.

And, of course, I hope you never ban Smoking Man. I’m one of his biggest fans.

Love ya, Garth. Man crush.

#185 Smoking Man on 02.28.15 at 12:40 am

#181 Cici on 02.28.15 at 12:24 am
#54 Smoking Man

Good post! And no spelling errors…you sent it to Mark first for revision, right to help him deal with the loss of this blog? Bleeding heart softie, knew you weren’t such a tough guy after all.

Just one thing though, didn’t you say you vote NeoCon? Slightly contradictory there.
……….

Im a bit bi polar.

#186 reg moss on 02.28.15 at 12:45 am

We are not ALL IMMIGRANTS! The French founded and colonized most of north america, Nouvelle France, followed by the British. All the rest of the people living
in Canada are immigrants. Of course, the aboriginals
have been on this continent for at least 10,000 years
and their lands stolen and colonized by the main founding
groups.

#187 not 1st on 02.28.15 at 12:47 am

Garth, if the economy slows like you claim it will, there are hundreds of thousands of TFW who will not have their job renewed and still do not have their immigration paperwork processed yet for an extension or permanent residency. This can take as long as 5-7 years in some cases. They will be in limbo.

What will become of these people? Will we kick out a few hundred thousand people who have never seen a recession and are not prepared for it or will they join the ranks of chronically unemployed in the country without legal status.

The govt allowed companies to staff up with TFW for a super commodity boom cycle. Now thats going to fade and the repercussions will have to be dealt with.

This is not xenophobia, its just reality and we need a much smarter policy to enable people that come here can find long lasting employment. The immigrants I know aren’t plopping down millions for mansions – they are working the take out window and such and sending every dollar abroad.

#188 Jon B on 02.28.15 at 12:49 am

I’d like to see a pie chart that shows where the money is coming from, rather than where the buyers are coming from.

#189 rentin on 02.28.15 at 12:51 am

WOW!!!! I will come back once the chair throwing stops.

If your mom/dad didn’t grow up poor, you likely pay too much for your stuff and own way too much crap.

A million for 33′ lot in Van. People have lost a sense of what money is worth.

I have the cash for 1.89 lots, but that is just the stupidest investment ever.

#190 For those about to flop... on 02.28.15 at 12:58 am

#173 Fed-up on 02.28.15 at 12:01 am
Many of those posting and commenting on this blog are simply hilarious. Mark posts what is at best an aggressive and insensitive remark and people who come straight out and call him a moron, asshole, dink, idiot, accuse him being a bigot, racist, xenophobe, belittled him daily for months and tell him to go screw himself, feel that he and he only should apologize for directing that silly comment at 1 poster. Geez contradict yourselves much?

-~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
You forgot that some people have called the guy a serial killer which I would take offence to just as much as his comment.
You shouldn’t write anything on the Internet that you wouldn’t say to someone’s face.
I am no angel and have tried to get on with most people on this blog and always take the time to thank someone if they answer a question ,but I’m the six months I have been on this blog I called one guy a “prat” another guy a “bum kisser” and told a lady to “stop being so condescending ” which is nothing to be proud of but if they were next to me I would have said it to their face ,because that’s how I felt at that particular time.
Really I just want to learn and to have a laugh .

#191 BG on 02.28.15 at 1:02 am

I don’t get the feeling that Mark is really xenophobic even if that particular message was clumsy and offensive.

And if you ban Mark and keep Smoking Man, you might break the cosmic balance in this blog’s comment section.

I would give him another chance.

#192 Goldie on 02.28.15 at 1:05 am

As is often the case when the subject comes up, I’m going to have to disagree with you, at least in regards to Vancouver. HAM is huge here.

#193 The Fuzzy Camel on 02.28.15 at 1:09 am

If Canada didn’t have an ultra-low birthrate, immigration wouldn’t be an issue. Government can’t have a population implosion, it is bad for tax revenues.

Canadian women are not family oriented, so the population implosion will continue. 3rd wave feminism isn’t helping the situation either.

Immigration is a good thing, the Canadian culture here is sad. Beer and hockey, ugh.

#194 Republic_of_Western_Canada on 02.28.15 at 1:09 am

DELETED

#195 Jack on 02.28.15 at 1:13 am

I am both the son of immigrants, and a medical doctor. Mark’s comment was factual — as was the comment to which he was responding. Two perspectives. Yes, it could have been phrased more politely, but if you are using that as a benchmark for banning you would have to kick out a lot of posters to this blog. I have a hard time interpreting the comment as cruel or belittling, even if it had been directed at my family.

Calling someone a racist/xenophobe when none is intended is certainly as insensitive as the original comment.

Based on the number and types of applicants, it is true that if someone does not go into medical school, someone else (equally qualified) will take their place. Obviously it is true that public health care workers are paid more by taxpayers than they pay back in taxes.

Many people are offended by truth when it is not euphemized or presented tactfully. Mark next time you could omit or rephrase the “so don’t get too full of yourself” type comments, but otherwise keep posting. Your explanation & general apology (#57) is enough; no need for more.

#196 Winston Smith on 02.28.15 at 1:14 am

Mark said “offensive” things; all of which were true. If they can’t be said here you should shut down this blog now. Plenty of places on the internet to find SJW approved material.

#197 TurnerNation on 02.28.15 at 1:18 am

182 posts already? Yup must be an inflection point of oil.

My Realtress…we hang out 2-3 days each week. Seperation of business and personal.
I’m living the #rentallifestyle.

#198 Washed Up Lawyer on 02.28.15 at 1:22 am

#118 Obvious Truth

What the hell is a “second chair”? I don’t own a chair.

Smoking Man:

You make me Howell* out loud with laughter.

WUL

*Harry Howell – For Obvious Truth’s benefit because he is a member of the cognoscenti. When he won the Norris he said something along the lines of Orr would win it forever. Orr did for the next 8 years.

After the trade deadline on Monday, my hockey references will disappear. Then it will be NASCAR and the Kentucky Derby.

#199 steph on 02.28.15 at 1:27 am

Having lived in another country for over a decade it was easier to see the xenophobes as their nuances were slightly different to our Canadian equivalents but the net effect was the same – playing to the peanut gallery for easy attention, cheap power and influence amongst the low hanging fruit in society. And populism is thus born.

Garth, your willingness to take a stand for principle and character does you and your blog credit.

Having quietly lived in 9 western Canadian small towns in the last year, the big cities have not a clue what is coming. I lived in a country that went bankrupt and their stagnant economy there i now see here, we are about to live in times where character will define us – not wealth…

#200 Vanecdotal on 02.28.15 at 1:39 am

#100 Keith

Well said, very valid points.

#134 drydock

“Or a serial killer, serial killer.”

Lolzzzz…..almost fell off my chair. Mark = GF’s own Dexter?

Seriously though, I think that particular post was taken out of context. I think Mark’s on another planet for the most part, but he’s usually respectful and polite. This is a place to share conflicting viewpoints, RESPECTFULLY, after all, hell it’s a multi-generational kindergarten ffs, I don’t know how GT puts up with it some days? Den mother to the 18-80+ crowd. Yikes.

Smoking Maniac & Mark = Oil & Vinegar. Keeps me coming back…

I say take the apology & keep him on a short leash.

#201 saltpony on 02.28.15 at 1:42 am

Gee, that line really bugs me, “Born and raised Canadian kids could have been trained for those jobs.. ”

I work in a hospital – cancer treatment. Sometimes it’s hopeful… but most times it is awful and brutal, and I often have students with me. I love working with them… especially the Brown and CBCs (Canadian born Chinese); some of the Browns are 5th generation Canadians from the lumber-mill areas: Quesnel, Chilliwack — and of course, there are the Whities. They are ALL Canadians.

My opinion on Brown and CBC students vs White??

Well, the Brown and CBCs know where to stand, how to support and how to connect with an old sick dying person because they live with their old people. They talk to people, not at them. And they never never never never emote in public when a strip has been torn off them, not like the Whities. Being a student in the medical field is difficult.. but Brown and CBC noticeably trump White in professionalism and constancy.

Next time you go for a medical procedure Mark, take a moment to notice how a Brown or CBC Canadian medical person treats you. You will consistently find that it is professional, compassionate, respectful and with humour, good-will and competence.

#202 chapter 9 on 02.28.15 at 1:47 am

“Variety is the spice of life”

Mark should stay!

#203 Jean Claude VanDammeCouver on 02.28.15 at 1:49 am

God I love this blog!

#204 slick on 02.28.15 at 1:56 am

Garth;
I can’t argue your comments one way or the other, using facts. And I don’t have a dog in this fight,
But do you discount the possibility that HAM is moving into lower priced homes, pushing current owners to upgrade into $1M + monsters?
Also, HAM houses may have higher occupancy numbers than locals with their snotty 1.5 kids.
slick

#205 Kilt on 02.28.15 at 2:03 am

Victoria isn’t greater Vancouver. Vancouver numbers are closer to 7%. And if you have investors continuously taking the top 7% of all properties and not flipping them, then the demand for homes gets spread to outlying areas driving those prices up. $72K household incomes don’t generate average house prices of $640,000.
No – it isn’t all immigrant investors, I know folks who own half a dozen homes and are always ready to use HELOC to pick up another place if it is a good deal. They are cash flow positive by not claiming any taxes on the rental income. Others used their inheritance as down payments so the mortgage was reasonable. While a few do the buy, rent out the basement, reno and flip. And they have done pretty well at that.
But, I also know that 5 years ago there were no Chinese in the neighborhood. Now there are plenty. They buy 800k tear downs, and throw up at $1.5 million dollar home. And even my hard working Chinese Canadian friends complain about the mainlanders coming over and buying up all the houses.
And the scarey things is that so many of us rely on them coming over and buying our houses. Some friends have based their whole retirement on selling their home for a million in a few years. But with so much pent up demand from people being priced out, I suspect they have no worries.
Kilt.

#206 Ponnaps on 02.28.15 at 2:05 am

#173 Fed-up on 02.28.15 at 12:01 am
Many of those posting and commenting on this blog are simply hilarious. Mark posts what is at best an aggressive and insensitive remark and people who come straight out and call him a moron, asshole, dink, idiot, accuse him being a bigot, racist, xenophobe, belittled him daily for months and tell him to go screw himself, feel that he and he only should apologize for directing that silly comment at 1 poster. Geez contradict yourselves much?

You’ve gotta laugh.

Upvote!… haters gonna hate and that they have..

#207 Vanecdotal on 02.28.15 at 2:13 am

#165 Smoking Man

Dude, don’t judge too harshly…. U of G Claudius to Mark’s Hamlet…. i.e. why you’re both still here.

#208 Vanecdotal on 02.28.15 at 2:17 am

Seriously, the thought of having to moderate this blog is akin to some version of a 7th level of Hell, or a 7 hour+ flight trapped on a plane full of screaming babies… imho.

#209 waiting on the westcoast on 02.28.15 at 2:19 am

Re: Mark

I vote to have him continue to post if he will have us. ;-)

It’s funny because I think the reaction against his comments are so strong because he is generally very polite. I, for one, was shocked at his argument and pounced.

#210 Gweilo on 02.28.15 at 2:27 am

Mark should be allowed to continue to post. Why? I don’t think anyone on this blog is a saint, bankers are trashed, economist are trashed, oil workers are, real estate agents certainly are. So whilst bloggers may not make reference to the race of the above, the comments themselves tend to be derogatory and contain more than a drop of bile in most cases.
Secondly if we were all honest with ourselves, we are all a little bit racist, agist etc. The key is to be aware of it and then to pinch yourself every time you are about to come out with some drivel.
Thirdly, it is only though debate of facts that you can change opinions/enlighten people. If shutting them out would work, we’d have no reoffenders. We lock people out of society but don’t teach them a different way to behave. Discourse allows us to change opinion.
Fourth, today’s racist/terrorist way we’ll be tomorrows president, PM or other head of state. The history is littered with such events.
As such as much as I/we disagree with what Mark posted in a free society he has the right to express his view in the same way that others on this blog do. It is our right/duty if we disagree to point out the flaws of the logic and hopefully change his option. Banning him will rob us of enlightening him/those who hold misguided or ill informed views. Hence it would aggravate not aliviate the problem

#211 TakingResponsibility on 02.28.15 at 2:35 am

I have difficulties ascertaining hatemongering.

Didn’t McKay just state that any plans to harm/kill more-than-one was not terrorism unless the perp is also ‘cultural’? That type of official xenophobia is potentially dangerous, of course. But, oh, so popular with the populists. And, we are all terrified of those who talkORwrITeAgaInstTHeOilsaNDS as they have been literally classified as terrorists. Like those birdwatchers in Ontario whom have been deemed “political” by CRA.

Confusion reigns as to who the monsters are – terrorists, haters, dictators, patriotisms, burqa burners…

So much paradoxical storifying – so why do we tell ourselves the stories that we do? Like that weird Bering Strait one? Haha! Does it make a settler ‘feel better’?

What is for certain is that Everyone here in Canada is here via Treaties. Surely everyone knows the Treaty that they live with??

What is also certain is that ‘Canada’ has been guilty of genocide, theft, and all the abhorrent cultural behaviors and values that carry inhuman attitudes and behaviors; there is absolutely no doubt that many still tend to culturally carry that form of settlerism. Whether New settlers or Old settlers….

Must be “unsettling” to know that all the Crown lands were to be held…for…?? Nope. Wrong. Not the oilsands.

So much emotion these days… Not sure that xenophobia is the right term to use in the case of the housing market and wanting to know who is buying?

Personally, I think we all need to keep focused on Policies and Legislation. Do not be diverted by ANY kind of mongering. Keep the focus.

Finally, I’ve Never read Mark’s comments as hatemongering, misogynistic, Ezra-esque, or even the slightest vitriolic.

His comments seem quite staid.

#212 Lillooet, BC on 02.28.15 at 2:47 am

On another topic, Toronto was COLDER today than Whitehorse, Yukon and Yellowknife, NWT. How is that freaking possible?

Meanwhile, Lillooet, BC will be +10 C this weekend. Haven’t seen any snow for about a month. And the average detached house price here is one tenth that of TO and Vancity. Go figure.

http://weather.gc.ca/city/pages/bc-28_metric_e.html

#213 Randy Randerson on 02.28.15 at 2:51 am

Re: Mark

I’d say let him stay. I’m a first generation immigrant and I didn’t find his remark from yesterday overly xenophobic; more like a lack of social awareness. I enjoy his opposing view from time to time, and it does bring out interesting debate on this blog.

There are worst offenders than Mark on this blog, and they’re nowhere near the insensitivity that Mark displayed in his last post.

#214 Vancouver Troy on 02.28.15 at 3:01 am

How does the real estate board get these stats? My girlfriend (foreigner) and I (Canadian born) recently bought a house. I don’t remember anyone asking us where we were born.

Respect.

#215 BigM on 02.28.15 at 3:04 am

Mark should stay.

#216 Cyclist on 02.28.15 at 3:09 am

31 cramar – outside of the woman interviewed, I dont believe they presented enough evidence to reach that conclusion. The cited withdrawals were for people under 65, so could reflect earlier retirement, mid-life
sabaticals, or return to schools. As garth has noted
many times, RRSPs arent just for retirement.

#217 Future Expatriate on 02.28.15 at 3:19 am

Boy, were those US buyers in Vic REALLY greater fools. Even with the exchange rate.

#218 nubbers on 02.28.15 at 4:16 am

#70 Mark on 02.26.15 at 9:56 pm

My brother, who is a teacher in Toronto and a white Anglo-Saxon Canadian, says that he much prefers teaching his Chinese pupils. They work harder and are less disruptive.

There is no way that the local entitlement brigade could be trained to be doctors. For that, you need actual dedication and hard work.

Good riddance.

#219 Freedom First on 02.28.15 at 4:24 am

I am not a fan of Mark, but neither do I have anything against him in spite of his numerous sometimes tedious posts. However, some of his Posts are thought provoking, and I do agree with giving him another chance if he meets Garth’s conditions. I say this knowing full well that Garth can ban him any time in the future, also knowing that at times I have come close to crossing the line myself. When I do, I feel bad about it, and knowing this I hope for Mark’s sake his apology is genuine. I vote Mark in.

#220 Scully on 02.28.15 at 4:29 am

Reporting from HAM central I can honestly say this latest RE blitz is fuelled by the interest rate drop. That and then a few timely MSM messages of “buy now before you are priced out and the foreigners are coming, blah, blah, blah. And might I say I have to laugh at the whole Americans coming to Canada for a deal with their stronger dollar. If you really believe that I have a 300 sq ft condo I’d like to sell ya! Jeezuz. The stupidity I have witness lately I find disturbing. No rational thought but lots of emotion and bingo – most of it fear and greed. I am so glad I found Garth’s blog. He has become the lighthouse in this RE shitstorm that has no way of turning out well. Thank you Garth. No debts and trying to invest responsibly. I can sleep at night.

#221 Lingo on 02.28.15 at 4:33 am

Victoria is not even close to Van for a comparison. Come to Van and see for yourself how the real estate market had been tailored to people of Asian heritage whether they be Canadian or foreign investors. Anecdotally we just had a development down the street that installed an Asian kitchen, something I never heard of before until I spoke with the developer himself. We have schools where upwards of 90% are perceptibly of Asian descent. We have retail responding to this massive immigration with Chinese signs in their stores and customized aisles and products. Not that there is anything wrong with it. But the real estate market wouldn’t be what it is without the massive migration from China and elsewhere in the region. It is a shock to the system to those who have lived here for ages. I can see why it ruffles some feathers for one does often feel like a stranger at times in their own land. But it is the policy has to come into question and not the action of the immigrants who have simply acted upon it.

#222 Centurion on 02.28.15 at 4:40 am

As someone who reads this blog and comments everyday (but doesn’t post much) I would prefer if Mark didn’t stay. He has never contributed anything positive or significant to this blog.

#223 observer on 02.28.15 at 4:45 am

Good article Garth.

Its interesting that all these independant studies and stats all show the same thing about 2% foreign ownership.

Now I worked for the ministry of finance and land titles. And know that information can been gather with ease. But for some reason stats are not pull and presented to the public.

And everytime someone tries to report on stats CREA beats it up.

Just think people if there were so many foriegners out there why did CREA have to hire locals to get on a helicopter and stage that flight. Also are realitors paying local asian people 40 bucks an hour to lineup to fake long line ups? I know this for a fact because my mons friends are called to lineup . It sure beats strawberry pickings

If there were truly that many asians coming in, I’m sure there would be plane full of these guys, with tourist guys to lead them to house showing. (BTW las vegas had that when real was jumping, bus rides of potential buyers were guided condo to condo). In cases like that all they had to do is stand in front of the condo’s while these buses unload the potential buyers

#224 James on 02.28.15 at 4:57 am

Without constant waves of fresh immigrants – Canada is kaput.
All challenging jobs from toilet cleaning to software engineering are done by them.

#225 Love my Kia on 02.28.15 at 5:00 am

I am a 2nd generation Canadian and know how hard my family has worked to give me a better life. My mom thanks her lucky stars for finding this country of peace and tolerance 50 years ago and is forever grateful our government helped her get a better life. Mom came here with nothing but lint in her pockets and she has an incredible work ethic simply because she is so grateful to live somewhere without fearing for her life. That being said, her hard work in menial jobs has rewarded her with financial security after many years, and has allowed me a high quality education and job.

My grandparents on my dad’s side were also hard working immigrant farmers from the Ukraine who helped settle our prairies and worked til they dropped (literally). I look back and realize how lucky I am to live in a country that continues to help the impoverished achieve the same dreams my ancestors had. We really do live on the best place on earth.

#226 Love my Kia on 02.28.15 at 5:12 am

FYI being a librarian I would like to state that this is Freedom to Read Week across Canada. Ironic considering the ban in place on poor Mark.

That being said, hate speech is still illegal and if he offers a heartfelt apology I would be inclined to forgive. Bigger issues in the world right now, esp bill C-51 that will give the government more rights to spy on authors.

#227 Nagraj on 02.28.15 at 6:17 am

Approximately 35% of the popular vote gets you 70% of the seats in the House of Commons. Ditto for Ontario and Queen’s Park. Canada is statistically the least proportionally representational democracy in the world. [Forget fancy prop rep formulas, just making ridings equal in population would be a giant leap for Canadiankind. Of course that might cause rural Ontario, for example, to kinda disappear . . . ]

HITLER (kindly bear with me) had an uncanny knack for not confusing the trappings of power with real power. (I’m quoting Hannah Arendt.)

The question I’m asking is: WHO – really – governs Canada? What element of Canadian society is really in charge (successfully making decisions which affect all of us)?

What – power – has decided, presumably in its own interest, to let the great Canadian housing bubble expand to the point where we have the biggest home ownership rate on the planet? Who benefits from the astounding household debt/income ratio? Or our youth unemployment crisis? [Of course Business likes high prices and low wages, but Business is not well served by impoverished consumers and Business knows it. Dollarama Nation.]

Ontario is #1 in the world as substate debtor with its app $300B of accumulated debt. Congratulations. [The debt rating agencies have been exceedingly tactful.]

Alberta has been selling the world’s most expensive oil. Has been.

Extremes . . .

You’d think a nation of only 30+ million could be run more efficiently (as vs say India or China).

Harper&Co have nothing to be proud of, but if Obama is a “Wall Street stooge”, who’s Harper-et-al stooging for?

I myself am disposed to favour the idea that: nobody’s in charge, that no social element in particular is ruling the roost. Power vacuum.

#228 leslie on 02.28.15 at 7:13 am

interesting post !
I dont think we should compare average income to average house price.. home ownership unfortunately is not for average income families..

#229 John Mc on 02.28.15 at 8:14 am

“Lots of people are smarter than me. It’s not a license to be a dink. — Garth”

I am curious. Mark was way out of line but why not delete it and send him a note explaining why? You let others get away with comments as bad if not worse, CONSTANTLY. The comments you allow re personal attacks, assinine attacks on real estate people etc go on and on. The constant sniping of LEOTROLLSTOY re Mark’s comments have gone way past what should be allowed. Your blog, but you seem to have different tolerances for different people. I think I will just stick to reading your blog and forget about the comment section. It has basically just become a huge doomer comment section anyways.

#230 Emma Zaun - GreaterFool Unpaid Intern #007 on 02.28.15 at 8:47 am

Garth, before you let Mark back in, he most be thoroughly strip-searched just like you do to all the interns.

Smoking Man, put on your rubber gloves.

#231 Sky on 02.28.15 at 8:49 am

I’ve always found most Canadians to be very tolerant, whether native born or immigrant. Fear and resentment over jobs being stolen and real estate inflating is just that- fear and resentment. It is not racism.

This fear and resentment would just as easily be directed toward a group of Caucasian immigrants if they were causing the perceived problems. And it was their neighbors, here in the Okanagan, that cried as their Japanese friends were shockingly hauled off to prison camps under elite dictat(Canadian govt).

But the policies of multiculturalism have a very ugly underbelly. White Canadians know all too well what happens if we dare criticize another culture these days. Racist! they scream.

Well, damn the elite and their damn politically correct policies that enable one of the most vile tortures against young girls- female genital mutilation. Right here in Canada.

Joe Blow Canada has zero power in stopping this barbarism going on within the ethnic enclaves in their own country. And despite FGM being made a criminal offense, how many prosecutions have we seen? The silence from both the media and the elite cultural relativists in govt is deafening. Hyprocrites of the 1st degree.

Forgive me, please. I was off my meds. But I’ve just choked down my pink multi-culti pill and swept this all under the rug where it belongs. Now let’s all join hands and sing Kumbaya as our eyes mist with the joyous tears of anticipation over the glorious multicultural future of this land.

Snippets:

“Female genital mutilation a ‘huge problem’ in U.K.
An estimated 66,000 girls and women affected, no prosecutions”

“And while the practice was outlawed in 1985 and carries a maximum penalty of 14 years imprisonment, the country has never seen a single prosecution”

“In contrast, neighbouring France has adopted a much less tolerant approach to tackling FGM. Its systematic examination of young girls has led to some hundred prosecutions.

‘’I think England is very tolerant because they put cultural relativism first,” says Isabelle Gillette-Faye, a French sociologist.”

“To date, there are not definitive studies of the number of girls at risk of FGM in Canada, but immigration patterns and human rights groups in Canada indicate that the figures could be substantial.

‘The biggest Somali community in the diaspora is in North America, that’s a big alarm for me,’’ says Hussein.

‘’A lot of Canadian women contact us. They suffer in silence, they don’t know where to go.’’

http://www.cbc.ca/news/world/female-genital-mutilation-a-huge-problem-in-u-k-1.2439423

http://www.huffingtonpost.ca/craig-and-marc-kielburger/female-genital-mutilation_b_2813119.html

#232 cropgrower on 02.28.15 at 8:51 am

“lot’s of people are smarter than me”- garth……oh yeah…..who? Let Mark stay, but can everyone still pick on Albertans….

#233 miketheengineer on 02.28.15 at 8:54 am

Garth et al:

On my mom side, grandma was born here and her mother came over around 1903. She met grandpa, sometime after 1927 when he came over (and was thought dead from a lung disease on the way over on the boat). He made it through the great depression. Mom was born here , met dad who arrived in 1956. My dad thought this was the greatest place on earth.

All the people in my family always stated to me: “Canada is the greatest place on earth”. And then they stated, “Anyone who doesn’t like Canada, well they can leave now, there are lots of places to go, where they can find “their” happiness.”

Canada…greatest country in the world….!

#234 yorel on 02.28.15 at 9:02 am

Don’t know about real estate, but I know someone who does some work for immigration lawyers. Pretty quiet these days.

#235 OttawaMike on 02.28.15 at 9:07 am

A very timely blog post.

Joe Oliver this week took time out of his hard work on the mythical budget to address the finance committee on terror and its funding:

http://news.nationalpost.com/2015/02/13/finance-minister-joe-oliver-says-more-can-be-done-to-disrupt-terrorist-financing-requests-investigation/

The Cons are playing a distraction game much like the real estate boards “look over here at all the terror and crime, never mind the budget and economy”

#236 Sky on 02.28.15 at 9:09 am

My vote is against the PC mob and with the majority. Mark should stay. Regarding further apologies : I am so not into S & M.

#237 OttawaMike on 02.28.15 at 9:10 am

Oh and Thanks for clearing up the comments section of Mark. Much less noise and chatter to scroll through now.

#238 MarcFromOttawa on 02.28.15 at 9:25 am

#230 John MC

You obviously weren’t around in 2009 when Garth was giving us squirrel soup recipes.

#239 MarcFromOttawa on 02.28.15 at 9:26 am

Don’t forget the BP oil spill and Fukushima. Always the end of the world around here

#240 BigM on 02.28.15 at 9:32 am

@222 Lingo

Never heard of an Asian kitchen, could you expand on that ?

#241 eddy on 02.28.15 at 9:32 am

Mark is a cyberbully who treats this blog as if it were
his own. I called him the self appointed prefect.

#242 Realtor Logic on 02.28.15 at 9:33 am

Toronto Maple Leafs are now on an EPIC 2 game winning streak!!

Real estate in Toronto will be going through the ROOF this year!!

Stanley, here we come :)

#243 AB Boxster on 02.28.15 at 9:53 am

In the summer of 2014 my family and I visited Calgary Globalfest.
At that event there were people of every age, from every part of the world. During this event there was a swearing in of new Canadian citizens.
Jason Kenney was in attendance and after the new citizen swearing in, Mr. Kenney, the judge performing the swearing in, and an RCMP officer decked out in full red serge made themselves available for pictures with the newly sworn in citizens.
It was very easy see the sense of pride and joy in these new Canadians.
Fathers and mothers with young children, smiling and posing for pictures with futures full of potential.

Immigration is an absolute necessity for Canada.
But during recessions, when the economy is not creating enough quality jobs for Canadians, or if Canadians citizens are passed over because it’s simply easier for a company to bring in cheaper (TFW) or skilled labor from outside the country, how is this good for the citizens of my country?
Yeah I know it’s great for Tim Horton’s. That doesn’t make it good for Canada.
And why is questioning these policies racist or xenophobic?

And if good quality jobs are being lost in Canada (think Royal Bank IT workers) to be replaced with offshore labor from other countries, how is this good for my country? Yeah, I know the Royal Bank is suffering financially.
But why is questioning these policies racist or xenophobic?

And ‘if’ there is a large amount of offshore money coming in to Canada, which is helping to drive up property values (along with stupid govt. policies), so that home ownership becomes impossible for a large segment of Canadian society, explain how is this good for my country?
And why is questioning this racist or xenophobic?

And finally, why is it that after almost 150 years of history of building a strong pluralistic society (through immigration) with strong values and beliefs, that when some recent immigrants come to Canada , that I am expected to be tolerant and change my belief system to accommodate theirs?
Why am I the racist and intolerant person?

If I were to visit or live in any foreign country, I would absolutely expect to abide by that societies cultural an religious norms. That is being respectful and tolerant.

Yet when we expect the same level of respect for our country’s beliefs and norms, we are called racist, intolerant and xenophobic.

What I would suggest, is that if the entire world was governed by the level of what many posters here have called racism, intolerance and xenophobia, the world would be a far less racist and much more tolerant place than it is right now.

Mark’s comment, while rude and gratuitous, as you mention, was neither racist or xenophobic as many other posters have suggested.

#244 TnT on 02.28.15 at 9:56 am

#219 nubbers on 02.28.15 at 4:16 am
#70 Mark on 02.26.15 at 9:56 pm

My brother, who is a teacher in Toronto and a white Anglo-Saxon Canadian, says that he much prefers teaching his Chinese pupils. They work harder and are less disruptive.

Wow….

Typical “Canadian” statements… throwing other Canadians under the bus to “prove” how tolerant we are…

#245 Johnny d on 02.28.15 at 10:11 am

@#34 GeorgeSoonToBeRetired on 02.27.15 at 7:58 pm
#18 I’m stupid

Unless you’re First Nations, you’re the descendant of an immigrant.

—————————————————————–

Actually, First Nations are all immigrants too.

They just got here from Asia (mostly, the evidence suggests) from hundreds, up to about sixteen thousand or so, years ago, before the rest of us, starting after the last great ice age. When we’re all dead ten thousand years from now, the order of arrivals will be trifling minutiae.

The game of establishing entitlement by virtue of who got where first does not end well – take a look at the middle east. It won’t answer the tough questions.

Better that we just show basic respect for everyone, methinks, and hold no position sacred or immune to reasonable discussion.

———————————————-

Best response ever. Wish more people thought that way.

#246 TnT on 02.28.15 at 10:11 am

The Mark comeback tour….

I agree with Garth’s conditions but would note that Garth use to have a quota / limit on the amount of posts the blog dawgs have to avoid excessive noise.

Lately its been all Mark followed by Leo Trollstoy chirping…

#247 Musty Basement Dweller on 02.28.15 at 10:19 am

I support Mark staying on the blog. I think he has added valuable viewpoints to the blog . The recent issue can be considered a lesson for all of us in insults as obviously Mark is not the only possible offender who is still allowed on the blog.

#248 liquidincalgary on 02.28.15 at 10:23 am

re: the post that got Mark banned.

i, also, read it as his subject held himself/family up as singularly, and vitally, important. we all are.

let Mark continue commenting.

#249 Mike in Toronto on 02.28.15 at 10:24 am

Mark’s clumsy with the facts, quick and far too plentiful with the opinions.

This time it just happened to be personal.

They spent a lifetime raising their family with great success, to have some xenophobe tell them that they’re parasite outsiders.

Apology is in order.

I’m biased though, I don’t like his posts and all this continual BS meta-Mark discussion. I want to hear about investing and RE.

#250 Obvious Truth on 02.28.15 at 10:38 am

It’s about the person. Not the colour, heritage or sex. There are always those that will take advantage. They come from all places. The majority may be from your own backyard. Education, the voice of an engaged populace and strong leaders both local and nationally is the answer. There are vast opportunities for everyone to get out into their communities and do good. Lead the way.

Did someone mention hockey and beer! Don’t forget boating and fishing. Canoeing or kayaking. Or campfires and guitars.

And the Bobby Orr museum not far from my getaway play place wows me every time.

Equally thrilling is seeing all those seemingly newly immigrated to this country picnicking in the harbour after a tour on Georgian bay.

Pethaps this will help with the great conversation of the day.

“I don’t like that man. I must get to know him better”. Honest Abe.

#251 JSS on 02.28.15 at 10:42 am

Many have got away with much worse on this blog. Racism, sexism, trolling, gold bugs, etc. And they’re still posting here.

GT got an axe to grind with Mark.

#252 John Mc on 02.28.15 at 10:50 am

Mark’s clumsy with the facts, quick and far too plentiful with the opinions.

oh ya good one… like he is the only one. Give me a break…

Smoking Man is 99% pure BS… LEO.. won’t even go into that, Alberta is Finished…. want to go there? Could go on and on and on. At least Mark is generally polite despite all the flack he receives. Just skip it if you don’t want to read it.

#253 DAN on 02.28.15 at 10:56 am

For the sake of being clear and open, i’d like to know how many of the 75% local buyers have dual citizenship? + you don’t need a flood of immigrants to tip a market, just enough to start a wave. I just sold my house to a Chinese National with dual citizenship at a price no “local” would purchase it in the last 2 years. Then again i must be an exception to the rule?

#254 Bottoms_Up on 02.28.15 at 10:58 am

#245 Johnny d on 02.28.15 at 10:11 am
———————————————–
It’s not so much who got here first, but how First Nation’s people were treated….disease, pillage, war, death…..followed by how they were treated subsequently (isolation, lack of priority, lack of government providing basic living standards).

#255 Emma Zaun - GreaterFool Unpaid Intern #007 on 02.28.15 at 10:58 am

Hi Garth,

The strip search of Mark has been completed. No ideological weapons were found, just a tattoo on his right butt cheek of a naked Stephen Harper in stilettos – make of that what you will.

Smoking Man graciously volunteered to do a body cavity search as well. Nothing out of sorts there. (Smoking Man is asking if he can keep everything he found.)

FYI Garth, in the interest of ‘efficiency’, which you profess such concern over, Smoking Man’s strip searches seem to take a lot less time than yours with the interns.

And Smoking Man, please stop sniffing your fingers and giggling – that’s gross.

EZ

#256 Bytor the Snow Dog on 02.28.15 at 10:59 am

Good Morning,

Generally I’m not a big fan of banning anyone, or of having blogs become too politically correct in order to satisfy the feelings of those who are (too) easily offended.

If I don’t like a post I use my right index finger on one of the best editing tools ever created by man… the scroll wheel.

Mark stays.

#257 Daisy Mae on 02.28.15 at 11:01 am

Give Mark another chance, please. His posts are interesting — perhaps, sometimes off base. And it’s important that Garth challenges him when necessary. He’s young. He’s bright. And he’s learning.

#258 Rabi Dmangycur on 02.28.15 at 11:03 am

Too Many Long-Winded Verbal Enemas in the Comments Section:

I enjoy reading this blog, but I assign TLDNR (too long – did not read) to many of the comments.

I first look for comments that have a link to an interesting website, or where Garth replies directly to the comment. (It would be helpful for Garth’s responses to be printed in Red – like this comment box). Then I search for concise relevant responses.

It might be useful to place a word limit on each comment, or a total word limit from each commenter over a month, say. This would include those who post under multiple aliases.

There is only so much time in a day to comb through all the comments.

As for Mark: Ban him for a period of time, with a warning that each subsequent banning will be for longer, until given the life sentence. I know this is not his first time. I also believe in the power of redemption.

#259 Musty Basement Dweller on 02.28.15 at 11:04 am

Wow what an intelligent range of interesting comments today. My interest in the comments section is greatly renewed knowing that this many thinking people are contributing and reading the blog.

#260 Retired Boomer - WI on 02.28.15 at 11:04 am

After reading all the comments on Mark regarding his post……

There is a lesson in there for ALL of us dogs.

Thanks to all who voiced an opinion.
Thank You, Garth, for allowing it.

Back to money, and investments, and all else that matters in everyone’s life

#261 Oot der Hoos on 02.28.15 at 11:11 am

I think everyone should stop using the phrase “hate speech” since the law makers took over that phrase for their own purpose.

You are talking about moderating a blob, which is rightfully done locally, without laws, and depends on the venue.

For example you can say something is vulgar or rude or hateful or lots of descriptive terms, and be justified in controlling some of it, without thinking you have the right to apply jail time or fines, like the speech law thinks it has that right.

#262 Catalyst on 02.28.15 at 11:15 am

I don’t agree with 100% of what anyone says on this blog, including Garth, and sometimes myself a few days later. I think Mark has for the most part been a regular contributor trying to add value to current topics.

#263 debtified on 02.28.15 at 11:26 am

I am a 1st generation immigrant.

I don’t like Mark and I don’t agree with most of the comments he has made here. Smokey is right about him.

Garth, this is your blog and I respect your opinion & decision. This is your house and I can see how things could get very nasty if you don’t insist on some level of decorum. I think you have made your point on this matter. But since you asked…

I vote for Mark to stay. He can apologize if he wants to.

The way I see it, Mark’s comment and where it came from is his burden to carry. Not mine. I feel sorry for the guy.

#264 Cyclist on 02.28.15 at 11:30 am

96 Marco – Suzuki is almost 79 years old. way too old to be a boomer.

I believe this blog has adopted a new meaning for the term as anyone who lives lavishly or beyond their means.

#265 Rusty Venture on 02.28.15 at 11:30 am

I appreciate Mark’s different perspective, so perhaps you can give him a 2nd chance. BTW, I’ve read that ‘time-outs’ work well with Aspergers.

As for Andrew Woburn – I think you should have him write a guest blog. A very thoughtful and coherent poster indeed.

Smoking Man – you be basin, dawg…

#266 Sky on 02.28.15 at 11:38 am

Relieved to see your weather report again, Lillooet, B.C. Thought maybe heat stroke did you in.

#267 Kris on 02.28.15 at 11:43 am

My parents and I immigrated to Canada 30years ago when I was in middle school. One huge difference I noticed immediately – School was free. Textbooks and other supplies, free also! And what about facilities at school – Top notch.

But strangely, sadly..
So many kids treated school as a part-time hobby, NOT as a duty or obligation or necessity of life. I couldn`t believe the lack of diligence, despite so much given to kids `on a silver platter`.

For many years ìn my native country, our family lived in a single room house. My brother and I literally fought for a quiet corner to do homework. In Canada we couldn’t believe many sissy excuses by kids, for not having focus at schoolwork.. It boggled our mind.

As Canada wakes up to a global marketplace, this is one of the fundamental shifts we need to absorb, I think. Appreciate what we have, and use it – Otherwise someone with more `fire in their belly`will use those advantages and steam ahead.

#268 Drill Baby Drill on 02.28.15 at 11:53 am

All peoples in Canada are immigrants including the first nations who immigrated to North America via the Bearing sea land bridge approx. 12000 yrs ago. My family tree goes back 400 yrs to what is now Quebec city. Mark is mostly full of BS but hey this blog has bigger butt vents on it than him.

#269 Victor V on 02.28.15 at 12:12 pm

http://www.thestar.com/entertainment/2015/02/27/leonard-nimoy-of-star-trek-fame-dies-at-age-83.html

And playing the sole alien onboard a starship of humans was inspired casting for a man born to Yiddish-speaking Russian Orthodox Jewish immigrants in Boston’s West End in 1931. Nimoy was used to feeling like the outsider.

#270 Victor V on 02.28.15 at 12:21 pm

A note to readers: Fifty years ago, today’s management took charge at Berkshire. For this Golden Anniversary, Warren Buffett and Charlie Munger each wrote his views of what has happened at Berkshire during the past 50 years and what each expects during the next 50. Neither changed a word of his commentary after reading what the other had written. Warren’s thoughts begin on page 24 and Charlie’s on page 39. Shareholders, particularly new ones, may find it useful to read those letters before reading the report on 2014, which begins below.

http://www.berkshirehathaway.com/letters/2014ltr.pdf

#271 Linda Pearson on 02.28.15 at 12:24 pm

#264 Catalyst on 02.28.15 at 11:15 am
I don’t agree with 100% of what anyone says on this blog, including Garth, and sometimes myself a few days later.

#265 debtified on 02.28.15 at 11:26 am
I vote for Mark to stay. He can apologize if he wants to.

The way I see it, Mark’s comment and where it came from is his burden to carry. Not mine. I feel sorry for the guy.
************************

I like the way both of you think (on this matter anyway), though I wouldn’t go so far as to feel sorry for Mark or anyone who shares his way of thinking. But maybe, just maybe, he didn’t express himself well in this instance and, since he usually does speak clearly, perhaps let’s give him a chance to recant if he wants to.

#272 Vancouver teacher on 02.28.15 at 12:29 pm

Garth, come to Vancouver and go to the open houses,you will see for yourself who is most represented. In some cases you may be the only one who is not Chinese in a house with 50 + people walking through. They may not be foreign, but certainly very new to Canada.
I have been teaching in Vancouver for more than twenty years and know ( from the families) that many new families have one member , usually the father, who still works in China. Technically I don’t think they would fall into the foreign ownership territory.
I have nothing against who is buying up Vancouver real estate as I am am immigrant myself. Where the buyers are from is irrelevant. Vancouver real estate however, particularly in this new wave of frenzy , is no longer supported by Canadians who earn their money in Canada and earn the typical average salary.
Come to Vancouver and have a look around, at the schools , shopping malls, and open houses. There are many, many more Chinese immigrants , who seem to have more disposable income than average, in Vancouver in the past 5+ years.
Its ridiculous to be racist or upset about the deal, Canada was built on immigrants and currently this is the new wave.

“Chinese” people live in China. If you mean Canadians of Asian ancestry, say so. — Garth

#273 Hey Mark, it's all about you! on 02.28.15 at 12:32 pm

Re Mark, your call. If you do keep him, please allow him to continue bolding. It makes it easier to find in order to skip.

PS I prefer Jesus Garth (dropping the “I” from “Je suis Garth”) than Hon. Dink…just saying.

#274 Ken Nash on 02.28.15 at 12:39 pm

#96 Maco “For instance, David Suzuki has advocated ending immigration, on environmental grounds.” Suzuki makes sense to me. Too much excess of anything is rarely wise, unless it’s your spouse. Canada has a problem with farmland preservation. Especially in Southern Ontario with severe loss of farmland capable to growing
crops rich in vitamin C, of strategic importance, to a country with a northern climate. Population growth and urban sprawl the culprits overpowering farm fields with malls and townhouses.

David Suzuki was widely criticized for his stance. Though some tried the he’s a racist xenophobe (Ezra) it had difficulty getting traction. It just shows the extent some will go to control messaging with bamboozling.

Mayor Ford had the right idea, subways, high density along the subway. This would have at least mitigated environmental damage from new population growth.

#141 robert
“There are a group of immigrants who have now come to our Country with no intention of adapting to Canadian
Culture.” No question about it Robert.

I think there are couple of reasons for this being so. Firstly, internet enabling communication from wherever in the world. No longer does a whole country have the choice of a just a few nightly news programs or couple of daily papers which enabled developing a singular sense of Canada.

Urban planning with car dependent sub divisions, alienating youth trapped in homes and block immigration creating urban sprawl cultural ghettos. More often than not manifesting in, a lack of Canadian patriotism and being xenophobic towards those foreign to their state of mind.

Don’t need to look far for examples. A parade in Brampton with a float honouring a cultural martyr. Only problem that martyr was a terrorist and implicated in the Air Indian sabotage. Most telling to me is in the names of Canada’s dead soldiers coming home from Afghanistan reading like: Webster, Scherrer, MacNeil and Leveque. Where is Chin, Mohammed, Mandetan and Somatheeram?

#42crossborder shopper
“2nd and 3rd generation kids of immigrants are generally wealthier and more educated than their counterparts.Like me. Some people are simply lazy, Canada does that to you.”

With due respect crossborder do you have any idea what a derogatory, biased and self sense of superiority your comment is? I don’t rightly see the difference between your statement and back in the day, some southern type saying, “Those black boys are made for physical work, not quite as smart as others and prone to lackadaisicalness ”
Think about it.

Can we all agree balanced investing is a good thing. Just because you bought BreX last time, is it really justifiable to buy more? Same with immigration. That balance on Garth’s real estate blog sometimes morphs into something else and that’s okay in moderation. There’s all kind of blog dogs, from the pious “Off with the head of the xenophobic Mark!” to #141 robert. Who at the 2nd or 3rd generation still doesn’t see himself as Canadian but an immigrant and better than Canadians because he is. That’s not the Canada I think of.

#275 Blacksheep on 02.28.15 at 12:49 pm

Being first gen and the son of a Norse invader:

https://www.youtube.com/watch?v=hC-T0rC6m7I

It just seemed fitting.

#276 Lingo on 02.28.15 at 12:50 pm

@242 BigM – An Asian kitchen is a smaller kitchen area behind a closed door next to the regular kitchen. It has its own stove and sink. It is isolated from the regular kitchen to perform spicier dishes so that the fragrances of said dishes do not emanate throughout the home.
I befriended an East Indian house builder over the time he built his house two doors from ours and when it was finished he gave me a tour. When I saw the kitchen I was dumbfounded for its footprint removed considerable space from the living room area. I said why is there another little kitchen area beside this gorgeous large kitchen? He told me that’s the way the Chinese prefer. I asked if it was a risk to not build to suit all potential buyers? He said, no. This was in the heart of east Vancouver.

#277 Marco on 02.28.15 at 12:55 pm

#255 DAN

“I just sold my house to a Chinese National with dual citizenship at a price no “local” would purchase it in the last 2 years. Then again i must be an exception to the rule?”
Count yourself lucky. Wealthy foreign investors are being milked by guys like Dan Scarecrow of MacDonald realty. Money no option for many of these people.
Smart to hold on to dual citizenship if this gasbag blows up. They can sell and go home.
Sunshine in Van, enjoy.

#278 NEVER GIVE UP on 02.28.15 at 12:57 pm

There should be no problem with any Landed Immigrant or Canadian Buying a home in Canada.
But when you invite even a few percent of outsiders from anywhere in the world to use our homes as a futures market, then we have shot ourselves in the foot! Haven’t we?

It is simple economics. Garth is right that the low interest rate policy is the main driver of high property values.

However add even one buyer to a saturated market and then you have a hyper market with bidding on the hood of a car outside the house with no viewing.

Being a free country we should allow anyone to buy a home here but to take the futures market out of the game we should simply tax the hell out of foreign buyers who do not have residency. Include companies that are not owned by residents.

Real estate is unique and should not be in the mix with pork bellies and gold.

We need to use our real estate to live a good life. enabling our homes to rise in value for investment purposes is to cause harm to ALL of those Canadian Residents (of any ethnicity) who are priced out.

Nothing racist about that.

If you think it is then you haven’t seen the policies of many other nations including Britain. who tax foreign property owners higher but probably not high enough to calm their markets. (London is a unique highly desirable place in the center of the world and near enough to oil money to be the best option for them)

#279 "Local buyers" may not be local on 02.28.15 at 12:58 pm

Many so called “local buyers” are not the type of locals who work a salary based job struggling to meet ends need.

Immigrated rich Chinese mainlanders are also “local”. they are considered chinese canadian for sure. but so what? the source of money is different. they are connected to chinese mainland money and hence is pushing RE price up.

this is proven by the fact that why avg price is this high given the household income. so there is no point to keep arguing “loc
al” vs “foreign”. instead we shall focus on source of money.

What a loser argument. — Garth

#280 PEI is FINISHED on 02.28.15 at 1:07 pm

http://www.theglobeandmail.com/news/national/small-island-big-bet-how-pei-lost-its-online-gambling-gamble/article23237214/

#281 Vamanos Pest on 02.28.15 at 1:10 pm

While Mark’s comments are usually just tedious pontification, it would be hard to argue he has a record of malicious or hateful posts. Quite the opposite, his critiques are usually constructive and on point (and fricken long). Also, his explanation on today’s comments is plausible.

I think we’d need to choose who will to cast the first stone if we weren’t to let him back.

#FreeMark

#282 AfterTheHouseSold on 02.28.15 at 1:11 pm

#173 Fed-up
“…belittled him daily for months and tell him to go screw himself, feel that he and he only should apologize…”

#230 John Mc
“You let others get away with comments as bad if not worse, CONSTANTLY.
“The constant sniping of LEOTROLLSTOY re Mark’s comments have gone way past what should be allowed.”

I reread your HELPFUL REMINDERS: “Abusive, obscene or disrespectful commenters will not be published and are subject to banning from this forum.” before posting.

I agree with the above mentioned posters. Garth, I have wondered for quite some time as to why you have not put an end to the personal attacks and juvenile bullying that has over run the comment section.

Leo Trollstoy and his pile on tag team (pwn3d, honeybooboo et al) have debased the quality of this blog. Trollstoys relentless sniping while blatantly trying to ingratiate himself with you is particularly distasteful.

My bigger concern is that there may be people reading your blog that would like to comment but don’t as they are intimidated at the prospect of being harassed. How much is therefore lost to this blog, we will not know.

I don’t think Marks comment was made with malicious intent. Nothing in his other comments point to that.

#283 Nemesis on 02.28.15 at 1:12 pm

#TimeForAParable,Or… #TheBrochureSureLookedNice…

http://youtu.be/khrx-zrG460

[NoteToGT: We’ve been down this road before… “And yet it moves”… It’s bigger than you think. Lots.]

#284 JimH on 02.28.15 at 1:13 pm

Mark plays fast and loose with the “facts”, is Cavalier with the truth, and is totally full of himself. Even when proven wrong, Mark just has to be “right”!
Reading his bullshit is tiresome, but at least we don’t have to eat it, and it’s easy to spot and skip over.
If assholes were funny, Mark would be the King of Comedy.

Let him stay.

#285 Wildnutter on 02.28.15 at 1:19 pm

Timely. Monster houses in west van.

http://www.theglobeandmail.com/news/british-columbia/in-west-vancouver-monster-house-debate-a-vicious-circle/article23236546/

#286 Andrew Woburn on 02.28.15 at 1:24 pm

Hug an immigrant today.

“As Germans and others are learning, the only remaining solution is immigration – at a moment when it’s not exactly politically popular. That’s why right-wing parties, such as Ms. Merkel’s Christian Democrats and British Prime Minister David Cameron’s Conservatives, are abandoning their old anti-immigrant stances and selling the public on immigrant settlement programs. It’s why European officials have been besieging Canada to find out how our system works. They don’t want to be in power when their country runs out of taxpayers.”

http://www.theglobeandmail.com/globe-debate/what-happens-when-you-run-out-of-taxpayers/article23225310/

#287 Rainclouds on 02.28.15 at 1:24 pm

Mark seems young and eager to test his intellect against others. I respect his willingness to express his opinions. Usually polite, although rarely provides data to back his assertions.

Mark suck it up, admit your comment was over the top or don’t and see ya later……all part of taking responsibility.

#288 Cow Man on 02.28.15 at 1:27 pm

Sir Garth:
An immigrant is someone whose family has been in Canada for one generation less than yours?

#289 Pump and dump on 02.28.15 at 1:45 pm

If Mark is being asked to apologize for his xenophobic comments; then Smoking Man should also be made to apologize for pumping and dumping BBD to the dogs on this blog.

Stock manipulation is arguably more reprehensible of the two actions, is it not?

#290 TurnerNation on 02.28.15 at 1:49 pm

Re. Mark I think blog dogs should be limited in their posting quantity to three per blog. (His sin, is not brevity.) Three squares.

For example this might allow you two sober daytime posts and one drunken evening rant (ahem, SM).

#291 Marco on 02.28.15 at 2:04 pm

#285 Wilnutter

I have to laugh at that Monster house debate happening in West Van. The hypocrisy and whining is ripe. The Boomers selling their houses want the highest price. The homeowners want to maintain their high house prices. The council wants to maintain house price levels for tax collection purposes.
A conundrum, oy vey.

#292 Dragonslayer on 02.28.15 at 2:04 pm

Agree with the consensus here- keep Mark but he’s on probation. One more slip up and he can join Brian Williams.

#293 BS on 02.28.15 at 2:05 pm

“I don’t often post because I feel extremely uncomfortable reading the frequent xenophobic and mysogenistic comments.”

What a load of shit. With your censorship I have yet to see one comment which I would consider xenophobic and mysogenistic. You should ban this person.

#294 Common sense on 02.28.15 at 2:05 pm

I think robert makes a lot of sense. As far as Mark goes I believe we have the right to Free Post. Obviously immigrants need jobs so yes they will take jobs so what? What is worse is TFW they are more the problem bringing in TFW while many Canadians sit on welfare… Really??? We need to import people to work at mcdonalds, Tim Hortons, to work at dry cleaners or to pick fruit Really??? Since when are these jobs too high skilled for Canadians?

#295 Discrepancy on 02.28.15 at 2:16 pm

I think at the bottom of the foreign/local money is the lingering experience that the “local” labor market has been stagnating for quite awhile, the rising RE prices are out of sync with the “local income”, in general.

People assume that the money going to RE has to come then from somewhere else.

Some of it actually may come from somewhere else. Income equality around the world has increased in the past 2 decades, there is plenty of very rich people and the globalized economy makes it easy to move around capital, probably more favorable terms than ever before. Free trade agreements have removed tariffs and red tapes and the flow of money around the world is the supported norm.

Grath was writing just recently how Canadian taxation favors investment over labor – that is a global trend and it includes moving money to buy everything, including real estate, virtually anywhere.

If recent immigrants buy RE from money from the “old country” their purchase will show up in the stats as a “local” purchase, indeed, as someone pointed out earlier.

Global wealth gets diversified in many ways, including family members moving and settling in different countries, establishing safe haven presence and moving some of the wealth. Not all immigrants come with empty pocket.

While it is fine, foreign investment in general creates tensions – not only in Canada, but basically everywhere in the world.

Canadians buying RE in Costa Rica or other places where the income of the general local population is lower than in Canada can experience this tension. Locals will feel that “rich foreigners” drive up the prices.

It is a global game – and the “local only” players feel the heat, everywhere, including Canada.

#296 Broke Dick on 02.28.15 at 2:22 pm

Mark is a PITA

#297 Underhoused on 02.28.15 at 2:26 pm

I started skipping over Mark’s posts some time ago — wasn’t interested in his misinformation presented as “vitally important and irreplaceable” insight. So whether he stays or goes makes no difference to me.

#298 Debtfree on 02.28.15 at 2:29 pm

Back in the day ,when we arrived in canada . The likes of mark called us DPs ( displaced people) . Displaced people we were not but all immigrants were painted with the same paint brush of bigotry . I have to thank mark for making it easy to not read the comment section at all . I don’t miss any of Garth’s posts but with the likes of smoking m ,mark and realters cluttering up the comment section . It has become too much of a waste of time filtering through garbage to find the gems . Thanks to all of you that try to help with links to reality and thank you Garth for separating the wheat from the chaff . If you stay mark ,please continue with the high lighting . Saves me lots of time . TIA .

#299 John Smith on 02.28.15 at 2:41 pm

Let Mark stay.

#300 Industrial Guy on 02.28.15 at 2:48 pm

“I will allow you to continue posting on two conditions. (1) You apologize to the person whose family you cruelly belittled and (2) if you have the support of others here. The floor is now open for comments on the fate of Mark. — Garth”

Let Mark stay ….. it’s important that we all recognize the bare face of racism in what he was saying…. In the marketplace of ideas there will always be hate mongers selling their poison as rational thought. Censorship is an easy solution, but many times is simply turns hate mongers into martyrs which the myopic followers see as a form of validation. In the end, it simply strengthens their resolve.

I wish to congratulate every immigrant who has found their way to our shores. For those who came here as refugees, Canada is a strong nation and we commit ourselves to your protection. We think we have a great country here. It’s a vast nation with wondrous places to see and friendly industrious people who are willing to help and to share. There are great opportunities here. Please, be all that you can be. Your success is our success.

Censorship tends to weed out the weaker ranks and leaves us with the hard core, true believers. As we all know, there’s nothing more dangerous than a cornered animal.

The strongest weapon we possess in our arsenal against racism is free speech. In a way … free speech is just like a vaccine… Let Mark spew his venom …. We must be exposed to this infection before we develop strong anti-bodies against it. Just keep pointing it out for the stragglers. Some immune systems fortify faster than others.

#301 BlackDog on 02.28.15 at 2:56 pm

Re: #273, Garth’s response to VancouverTeacher: ” “Chinese” people live in China. If you mean Canadians of Asian ancestry, say so. — Garth”

I totally get this. I am no longer a Canadian first and foremost despite having lived in Canada almost my entire life. Since the Conservative government recently agreed to send the details of my Canadian bank accounts to the IRS, I have frequently been described by Conservative MP’s, journalists, and others as an ‘American living in Canada’, despite having no American ancestry whatsoever. For some reason they do not see this is an insult.

Racism, bigotry, sexism and other forms of discrimination are very subjective. Garth’s wife’s parents were immigrants so this is his soft spot. I am a woman, and have read many sexist comments here that Garth has let pass by with nary a peep.

My vote: let Mark stay.

#302 Sue on 02.28.15 at 3:00 pm

#293 BS on 02.28.15 at 2:05 pm

“…With your censorship I have yet to see one comment which I would consider xenophobic and mysogenistic. You should ban this person.”

I suppose this is your idea of a little joke, BS? I have noticed quite a few misogynistic comments and anecdotes. All of those things that start “Women all…” or “Women always…” or “Women never…”

As for the xenophobic and other generally intolerant and doltish attitudes sometimes exhibited here, well, I can say it’s amazing that some of the more useful and thoughtful people continue to contribute.

Thank you to those who do behave well. Very interesting.

And to the rest, if you are trying to make a point, ask a question, or present an idea, it would be much more effective if you were kinder, (and briefer) in your words. If however you don’t care about your impact and just want to vent, I guess Mr. T. is left sifting the result.

Cheers!

#303 CalgaryRocks on 02.28.15 at 3:07 pm

Maybe replace HAM with a more neutral term like HFM (Hot Foreign Money) and let THAT represent money that has been earned in PRODUCTIVE economies with low or no taxation.

And by productive I mean an economy where the term ‘investor’ is used for people that start real business that employ thousands of people and produce real economic benefits and growth, not just housing inflation.

Then, get mad at yourselves for having become a country where ‘investing’ consists of buying and selling overpriced cardboard housing to each other.

#304 Rob on 02.28.15 at 3:08 pm

Re: Mark’s Status –

I purposely waited a full day to comment on this issue.
Just briefly – why waste time commenting on voting on Garth’s condition #2 when I have seen no evidence that Garth’s condition #1 has first been publicly met (by Mark).

Mark? Mark who. (end of discussion – move along folks)

#305 For those about to flop... on 02.28.15 at 3:11 pm

Actually I have one more sin to confess to .
I asked Garth how much of someone’s net worth they should have invested in the stock market .
Someone chirpped me and told me while I was at it to put 25% gold in my portfolio ,to which my response was for him to shove a bar of gold up his backside !
I probably should not have said that but I would have said it to his face if he was beside me.
Nothing wrong with that right?

#306 Nemesis on 02.28.15 at 3:20 pm

#SaturdayPotPourri…

#Icarus&TheOdyssey…

[Telegraph] – Humiliated Greece eyes Byzantine pivot as crisis deepens

…” His poor parish in Drapetsova was built by refugees from Smyrna and Pontus, victims of the “Catastrophe” in 1922, when ethnic cleansing extinguished the ancient Greek communities of Asia Minor. He lovingly showed me the historic icons and prayer books they hauled with them in wagons, now in the church basement.

The utility companies have been cutting off the electricity as arrears rise – and sometimes the water too – leaving 300,000 Greeks in the dark. “They come and ask for candles. They can’t use their fridge. They can’t cook. Their children can’t do their homework,” he said. It is almost a description of a failed state.”…

http://www.telegraph.co.uk/finance/economics/11441482/Humiliated-Greece-eyes-Byzantine-pivot-as-crisis-deepens.html

#You’dNeverGuessThere’sAnElectionLooming…

[BBC] – First-time buyers in England offered 20% discount on new homes

…”First-time buyers under the age of 40 in England can now register to buy new homes at a discount of up to 20% off the normal price.

The offer is part of the government’s new “starter homes” scheme to encourage home ownership and construction on previously used “brownfield” land…

…The 20% discount is achieved by waiving local authority fees for homebuilders of at least £45,000 per dwelling on brownfield sites…

…The government introduced a scheme called Help to Buy in England in April 2013.

It was intended to help those trying to get on the housing ladder who could afford mortgage repayments but were struggling to raise a deposit.

Last March the scheme in England was extended until 2020 rather than December 2016, as had previously been planned.”…

http://www.bbc.com/news/business-31668135

#TheNewVentureCapitalism,Or… #”We’reLovin’It”?…

[NYT] – Divorce Funding Firms Help Spouses Expecting Big Payouts

…”“People in their right mind don’t have any experience with litigation,” she said. “They think they have $100,000 and they’re loaded for bear. They have no idea how long it lasts.”

MaryAnn Landauer said she spent a year trying to save her marriage, after learning that her husband and the father of her two sons had had a mistress for the length of their marriage and another son with her.

During that time, she asserts, her husband refinanced five properties in the marital estate, stripped them of their equity and shipped the money overseas. He did the same with other investment properties and let their 13,000-square-foot home in Rancho Santa Fe, Calif., go into foreclosure.”…

http://nyti.ms/18uvoPZ

#VulcanHomilies…

[Telegraph] – Spock actor Leonard Nimoy wrote inspiring letter to victim of racism

…”An inspiring letter by Leonard Nimoy to a teenage victim of racism has resurfaced online.

The moving message, which appeared in American teen magazine Fave in 1968, is a response to a letter by the girl in a previous edition, in which she described being shunned because of the colour of her skin.”…

http://www.telegraph.co.uk/culture/star-trek/11441811/Spock-actor-Leonard-Nimoy-wrote-inspiring-letter-to-victim-of-racism.html

#307 Finland is FINNISH on 02.28.15 at 3:48 pm

“mysogenistic”

Seriously?

Anyway, I would prefer Mark stay. If anything, he’s accidentally offensive, whereas a great number of others who post here are so on purpose.

#308 BigM on 02.28.15 at 4:14 pm

@ 277 Linog

Thanks for the info, sounds like either putting a stove and sink in pantry, or putting some walls around the BBQ.

Good to know. :-)

#309 Local vs Foreign MONEY on 02.28.15 at 4:14 pm

It is likely that majority of the 98%+ “local” purchase were done by people with foreign money source.

For example: Chinese Mainlander – immigrants who are considered as local Chinese Canadian – and whom with a source of money from China.

Such purchases were not done by local people with local money source. Not by people who make that salary based T5 income who are struggling to meet ends need.

This is a perfect explanantion of the phenomenon – why house price is that high, with such low level of household income.

I personally know a few cases in GTA. Some “local” people actually bought RE on behalf of their connections in China.

We all should focus on the money source, instead of the “local vs foreign” status. Again, “local” people can have foreign money source, and I have directly and personally observed many.

How is this so different from parents giving kids down payment money to inflate condo values? — Garth

#310 devore on 02.28.15 at 4:36 pm

Mark is argumentative, verbose, and his theories can seem somewhat bizarre and questionable at times, I can see how he would polarize people, but I haven’t found him offensive. That’s why “Born and raised Canadian kids could have been trained for those jobs” is so out of character. Maybe he’s been holding back this whole time?

I disagree (because it’s impossible to offend me) with both the wording, and the sentiment. For the same reason I disagree that “Harper is selling out Canada”. The government would sell Canada’s natural resources to Canadian companies just as happily, but Canadian companies are not buying. Why? I think it’s because Canadians are not investing in Canadian companies, so they lack the capital to ramp up for those projects.

Children of immigrants tend to enter the scientific and professional fields at a high rate, compared to “native” Canadians. Although Canadian post-secondary institutions are open to everyone equally, new Canadians are able to compete for admission spots better. This is where studying, results and attitude matter.

Rather than bemoaning the outcomes, and looking to blame foreigners for coming here and stealing our resources, jobs, money, education (and probably women too), it is more instructive and constructive to look at why instead. Why are immigrants and foreigners able to out-compete Canadians in our own schools? Why are foreign companies able to out-compete Canadian companies in our own country?

I don’t have all the answers, but I am quite confident these can be explained and addressed without resorting to racist or hateful drivel.

#311 Alison on 02.28.15 at 4:43 pm

Oh boy…I was going to just step away from this. But my question which really seemed to stir the pot

For the record. I am not racist. My father was an immigrant from Europe lived in housing projects and become successful. He worked day and night shifts to make it happen

My children are considered minorities. They speak three languages fluently and go to a multi-cultural school. They are with all different religions and nationalities and their friends are in and out of our house constantly. Their grandparents immigrated from four different countries

Never did I think that my question would be attacked. The average salary in vancouver is not that high… I questioned how/what people do for a living. If we were in calgary you may say people are in oil/gas, in San Fran you may say technology.

My kids actually asked me the question after the tour “they don’t seem to understand English – what kind of jobs are they doing”

I apologize to mark for causing the s …t storm???

If people want to see me as racist there is not much I can do. I enjoy the blog. – but don’t appreciate to be crucified.

Believe me…. I will keep my questions to myself

#312 Retired Boomer - WI on 02.28.15 at 4:43 pm

#300 Industrial Guy

Mark has stated there was no “venom” intended in his post. (see #57). For you to characterize otherwise is silly.

If you want to see “venom” in action for all to view, we here in the states have an entire TV network devoted to it called FOX NEWS. Viewer discretion IS advised.

#313 JB on 02.28.15 at 4:57 pm

I don’t post much, but read often. Sorry Mark but you can come across as a misinformed D-bag sometimes. Can’t get past the D-Bag comments about about immigrants, and the disrespect for my fellow silly servants.

If it were up to me I’d say “don’t let the door hit you in the ass on the way out” But it’s not up to me. It’s Garth’s blog, and he can kick your ass to the curb for whatever reason he see fit.

#314 Broke Dick on 02.28.15 at 5:00 pm

#301 BlackDog on 02.28.15 at 2:56 pm
Re: #273, Garth’s response to VancouverTeacher: ” “Chinese” people live in China. If you mean Canadians of Asian ancestry, say so. — Garth”

I totally get this. I am no longer a Canadian first and foremost despite having lived in Canada almost my entire life. Since the Conservative government recently agreed to send the details of my Canadian bank accounts to the IRS, I have frequently been described by Conservative MP’s, journalists, and others as an ‘American living in Canada’, despite having no American ancestry whatsoever. For some reason they do not see this is an insult.
++++++++++++++++++++++++++++++++

WhiteKat have you been reincarnated as BlackDog?

#315 unbalanced on 02.28.15 at 5:03 pm

Let Marko stay. In his post at # 57 he did apologize didn’t he. Alot worse has been said on here by certain individuals who Must post 15 times a day, whether their sane or insane is another matter. Its too bad we can’t all get along. Just saying.

#316 BS on 02.28.15 at 5:21 pm

Sue: “I suppose this is your idea of a little joke, BS? I have noticed quite a few misogynistic comments and anecdotes. All of those things that start “Women all…” or “Women always…” or “Women never…””

Sue, so if I made the statements starting with the phases you seem concerned with you would consider them misogynistic? Lets try a few:

“Women all care deeply about their children…”
“Women always make wise decisions…”
“Women never seem to be judgmental…”

Sue relax a little. People like you actually do a diservice to women everywhere trying to find fault where there is none.

#317 Local vs Foreign MONEY on 02.28.15 at 5:32 pm

How is this so different from parents giving kids down payment money to inflate condo values? — Garth

I guess the only difference is the magnitude and the volume. Lots of money – sourced from China – are flooding the market. Local money sources might have given their kids 20k-50k to buy a 300k-500k condo? Chinese money sources bought million dollar homes with little or no mortgages. They bought multiple homes too.

I know a guy who bought three houses in a single shot (new development in Markham). He is a “local” Chinese Canadian – immigrated from mainland china – and he has a rich dad. Two of those houses he bought were done on behalf of his relatives in China – just because it is considered a “good investment”. Money would be settled back in China and he was the front for all purchases.

This totally aligns with the fact why house prices are at such level while household income remains low, even with the debt situation factored in.

How can “real local” people with a regular T5 income to compete with these people? The answer is, no you can’t….

A “local Chinese Canadian – immigrated from mainland china” is called a Canadian. By “real local people” do you mean the white kind? — Garth

#318 Nerf Herder on 02.28.15 at 5:38 pm

Previously, “poor” immigrants have come to Canada and busted their butts to make a better life for themselves and their children. They came on a wish and prayer and made Canada a better place.

Immigration changed when A) Canada preferred immigrants with money, B) These successful immigrants from emerging economies were richer than the average Canadian.

This results in xenophobic viewpoints from the average Canadian, who is priced out of housing markets.

Canada needs immigrants, for investment, demographics and for adding to our culture…. but it’s not hard to see why people like Mark say things as he did.

Immigrants are not pricing us out of houses. We are doing that. — Garth

#319 BlackDog on 02.28.15 at 5:40 pm

@BrokeDick #313,

Who is WhiteKat?

#320 BS on 02.28.15 at 5:42 pm

Re: Low incomes with high housing

Everyone seems to jump to the conclusion it must be foreign money driving housing since local incomes are too low. The part most people miss is prior to housing tripling in value all those houses were owned by locals. Most of these locals have average income who bought prior to prices rising. When they sell they get a huge sum of tax free cash (not counted as income in any statistics) which they then put right back into real estate. How may people do you know who sell and then rent? Not many. Few people are cashing out. So it is basically a big Ponzi scheme. All the RE sales proceeds are going back into to real estate in some form. If that wasn’t true, mortgage debt would be decreasing not increasing.

Many people buying those million $ houses just sold a million $ house and along with adding a little more mortgage debt which they don’t need huge income to qualify for because they made the majority of the $ from selling their last house. Again not income so it does not show up in income stats.

Everyone seems to falsely assume it is first time buyers buying the million $ houses which are only a small fraction of all sales even in places like Vancouver. Most sales are in the sub $600K range which first time buyers can qualify for and ‘afford’. The CMHC insured first time buyers supply the capital to the trade up buyers and so on and so forth. Without the first time buyer the Ponzi scheme collapses. And it will at some point.

Vancouver asian population is something like 40% so you should see lots of asians buying houses. They are participating in the bubble not driving it just like everyone else.

#321 Smoking Man on 02.28.15 at 5:50 pm

#314 unbalanced on 02.28.15 at 5:03 pm
Let Marko stay. In his post at # 57 he did apologize didn’t he. Alot worse has been said on here by certain individuals who Must post 15 times a day, whether their sane or insane is another matter. Its too bad we can’t all get along. Just saying.
………

That was a rather nasty passive aggressive bitch slap to my face. You will become a hero to all the Anti Smoking Man hate club.

Bottom line is, I’m creative, I entertain, I’m funny and pathetic at the same time, it’s called a sole. And I know soul is spelt wrong. Butt that’s my thing.

Belive it or not I have a rather sizable fan base, up to atleased 40 soles. Not to mention apart from Bombardier, and Yellow pages, my calls have been deadly accurate. And usually against economist consences, I rock…

In line at Tim’s, on Bay Street, a week ago. I over hear a few traders from TD discussing Smoking Man posts on GF. Talking about my BOC rate cut call.

They had no idea the great one was standing behind them.

Mark probably has more, probably thousands. But there is no excitement, surprises in his R2D2 style of word smithing.

Show some respect.. Unbalanced.

#322 Nerf Herder on 02.28.15 at 5:58 pm

Immigrants are not pricing us out of houses. We are doing that. — Garth

——

That’s like saying that Canadians are now responsible for buying $5 lettuce. Just don’t buy it, right? Eat Chef Boy-R-Dee instead.

Policy ALWAYS has a result. The average Canadians just get caught up in it.

Well over 95% of all house purchases in Canada are made by locals. Price inflation? Blame us. — Garth

#323 Nerf Herder on 02.28.15 at 5:59 pm

Not that we as Canadian don’t also have a role in it… but it’s not as simple as you make it out to be.

#324 BlackDog on 02.28.15 at 6:04 pm

@BrokeDick,

BTW, I like your alias.

#325 Victoria Real Estate Update on 02.28.15 at 6:13 pm

Keep Mark and get rid of Smoking Man (and his useless drivel) instead.

#326 Washed Up Lawyer on 02.28.15 at 6:13 pm

What is the vote tally? When do the polls close?

Confession. I voted 8 times using a different name for each comment. Gotta love electronic voting.

Without a Mark apology, it’s moot. — Garth

#327 drydock on 02.28.15 at 6:16 pm

http://www.ronpaulinstitute.org/archives/peace-and-prosperity/2015/february/25/natos-russia-border-games/?author=Daniel+McAdams

This sort of thing can backfire so quickly.

#328 BS on 02.28.15 at 6:16 pm

“That’s like saying that Canadians are now responsible for buying $5 lettuce. Just don’t buy it, right? Eat Chef Boy-R-Dee instead.”

Actually, yes Canadians are responsible for $5 lettuce. And yes I would say don’t buy it if that price offends you. The market charges what people will pay and since lettuce is selling for $5 people are able and willing to pay it.

I think you can find a better substitute for lettuce than Chef Boy-R-Dee. There are other vegetables including local produce which have not gone up in price. If enough people substituted lettuce with other veggies the price of lettuce would come down. Same for housing. If enough people (locals) wise up and rent rather than buy the prices will come down.

#329 Local vs Foreign MONEY on 02.28.15 at 6:16 pm

A “local Chinese Canadian – immigrated from mainland china” is called a Canadian. By “real local people” do you mean the white kind? — Garth
===

“Real Local” in the context of my posting means local people without foreign money source.

Anyone identified as “local” can have foreign money sources, as I have state many times above.

Again, we shall be focusing on the local vs foreign MONEY SOURCE, not the local vs foreign residential status.

You will probably be happier and live longer if you stop blaming others for what you do not possess. — Garth

#330 nubbers on 02.28.15 at 6:26 pm

TNT @246
Actually, I am not that bothered to appear tolerant. Just illustrating the monumental stupidity of Mark’s post, and while I am at it, having a dig at some of the bigots on this blog.
If my post seemed at all offensive to anyone… that was my intention.

#331 Observer on 02.28.15 at 6:32 pm

Garth, holding up a pie chart for Victoria and in any way applying that to Vancouver…..would that not be like comparing Bakersfield to Arcadia?
Real estate is very local…..and no hate here, by the way.

http://www.bloomberg.com/bw/articles/2014-10-15/chinese-home-buying-binge-transforms-california-suburb-arcadia

#332 Victor V on 02.28.15 at 6:45 pm

Asians in U.S. on Pace to Surpass Whites In Median Wealth

http://www.bloomberg.com/news/articles/2015-02-26/asians-in-u-s-on-pace-to-surpass-whites-in-median-wealth

The gains made by Asian families, especially compared with whites, are probably due to great strides made in obtaining higher education levels, the researchers found. Among adults between 35 and 39 years old, 73 percent of Asians had finished a degree or certificate beyond high school. That compares to 54 percent of whites, 36 percent of blacks and 23 percent of Hispanics.

#333 Local vs Foreign MONEY on 02.28.15 at 6:58 pm

You will probably be happier and live longer if you stop blaming others for what you do not possess. — Garth

===

When did I blame? I was simply explaining the phenomenon. You have always quoted “local”, and I want to point out that people with local residential status can, and some do, have foreign money sources.

Can you actually listen to other’s perspective without labeling me as someone who is blaming? :)

#334 Washed Up Lawyer on 02.28.15 at 6:58 pm

Gonna frame #325. My first comment back from Garth.

Oh, and by the way it is “mute”.

Actually it’s ‘moot’. Frame this. — Garth

#335 switch on 02.28.15 at 7:05 pm

If you must know! Garth is Mark.

#336 Broke Dick on 02.28.15 at 7:10 pm

#318 BlackDog on 02.28.15 at 5:40 pm
@BrokeDick #313,

Who is WhiteKat?

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

nudge, nudge. wink, wink

#337 Condo Minion on 02.28.15 at 7:16 pm

I just caught some of a local radio broadcast in TO, “Ask the Experts” on CFRB Newstalk 1010 5-6 p.m.

The guest (second time in three weeks apparently) was Paul Etherington, of TREB.

All the moist virgins calling in were assured that real estate was a great investment. Interestingly, he told some callers that they should not expect to actually profit from the monthly rentals of their investment condos etc…, but assured them there would be big profits at the end, when they sold them ten years or so down the road. He mentioned how he has sold properties to kids he used to coach hockey to. (Found that slightly creepy, not sure why)

So if there is no cash flow benefit in a rental property, and you still have to do maintenance and management work, what exactly is the point of buying an ‘income property’ Paul? What about the opportunity and transaction costs?

Silence on those points.

(Too bad stations like Newstalk 1010 don’t even have the integrity to state it when what they are actually running is paid programming for the ‘guests’)

#338 Bubble boy on 02.28.15 at 7:18 pm

Actually… it’s moops

https://www.youtube.com/watch?v=Ia02fGpUQfU

#339 calgaryPhantom on 02.28.15 at 7:21 pm

The “real local -white kind” are also immigrants to Canada. End of discussion.

#340 Bubble heads on 02.28.15 at 7:23 pm

Silicone butt injections with a caulking gun… what could possibly go wrong!

Bet they’re easy prey for big mortgages.. now that explains high house prices!

http://www.ctvnews.ca/health/woman-who-gave-butt-injections-with-caulking-gun-remorseful-lawyer-says-1.2256261

#341 BlackDog on 02.28.15 at 7:35 pm

@BS #315

You said: “Sue, so if I made the statements starting with the phases you seem concerned with you would consider them misogynistic? Lets try a few:

“Women all care deeply about their children…”
“Women always make wise decisions…”
“Women never seem to be judgmental…”

BS, hardly misogynistic, but they would be stereotyping. And WHERE on this blog will you ever hear anyone making statements like this? LOL!

You also said: ” People like you actually do a diservice to women everywhere trying to find fault where there is none.”

If I changed this comment ever so slightly to: “People like you actually do a disservice to Chinese everywhere trying to find fault where there is none. “, I would be kicked off this blog, or forced into grovelling, just like Mark.

#342 pinstripe on 02.28.15 at 7:36 pm

I could not believe the numbr of posts.

I had a late night last night with the seniors and didn’t get to bed till 9 pm only to find out this blog has been working overtime.

I have a question that no one wants to touch.

how do the drug lords spend their money? how does that money move in the economy? how much laundered money is directed toward houses, condos, etc?

there is info that gdp for bc-bud is higher than the forest indusstdry in bc. is that why all of a sudden bc has a budget surplus?

#343 BlackDog on 02.28.15 at 7:38 pm

@Switch, #334

I knew it!

#344 Nerf Herder on 02.28.15 at 7:45 pm

Well over 95% of all house purchases in Canada are made by locals. Price inflation? Blame us. — Garth

——–

“Us” and “Locals” does include immigrants. As you always have said immigrants are Canadians too.

#345 Ralph Cramdown on 02.28.15 at 7:48 pm

#309 Local vs Foreign MONEY — “We all should focus on the money source, instead of the “local vs foreign” status. Again, “local” people can have foreign money source, and I have directly and personally observed many.”

How is this so different from parents giving kids down payment money to inflate condo values? — Garth

Quoting Michael Pettis from his book ‘The Great Rebalancing’ (2013):

“[…] net foreign inflows of capital are unlikely to generate long-term wealth for an economy. On the contrary, if foreign inflows fund consumption or speculative investments, for example in real estate, they can easily be wealth destroying in the aggregate since the increase in real wealth creation in the recipient economy is less than the increase in debt servicing cost.

Notice that these three conditions are generally likely to characterize poor or rapidly growing countries, countries devastated by war or natural disasters, or countries heavily reliant on commodity extraction. Rich, diversified economies with sophisticated financial systems almost never need foreign funding, and it is certainly hard to make the argument in the case of the United States that the American capital markets are insufficiently sophisticated, capable of taking risk, or knowledgeable to fund the astonishing creativity of US technology. If the United States is a net importer of capital, it is almost certainly likely to result in excess consumption or asset bubbles (and the latter usually feeds the former […]” — p. 168

ANY OF THAT SOUND FAMILIAR?

N.B. For any fans of his blog, Mr. Pettis’s books are more readable. I suspect it’s the editing.
http://blog.mpettis.com/

P.S. On the weekend that Berkshire Hathaway’s annual report gets released AND House of Cards drops, all y’all spend the day arguing about whether to vote an articulate contributor off the island so you can get back to your aliens, conspiracy theories, drunk road trip stories and puppy training tips? Really???

#346 Leo Trollstoy on 02.28.15 at 7:56 pm

I’m looking to reading Mark’s apology. Grovel away Mark.

#347 For those about to flop... on 02.28.15 at 7:59 pm

Hey ,Washed up.Do you remember the song in the 80s by Rick Springfield “Jessie’s girl”?
One of the lines in that song is” I want to tell her that I love her but the point is probably moot ”
First vinyl single I ever bought at age 7.
Still have it actually . Ah the memories….

#348 Smoked Squirrel Meat on 02.28.15 at 8:00 pm

Bus passes for Boomers……
http://news.nationalpost.com/2015/02/28/seniors-discounts-benefits-drain-on-public-purse/

#349 TurnerNation on 02.28.15 at 8:11 pm

Let me get this, people are paying 1m for a SFH here in Toronto all for -30 windchill last 2 months, rotten public transit, and 2nd world road systems (Don Valley Parking Lot, Gardiner Distressway, Lakesnore Blvd.)?
And the highest internet costs in the world, along with food and gas prices 30% higher than our nearby US neighbours?
We are a British owned tax slave farm/penal colony.

#350 TnT on 02.28.15 at 8:34 pm

#221 nubbers on 02.28.15 at 4:16 am
Chinese pupils. They work harder and are less disruptive.

#333 nubbers on 02.28.15 at 6:26 pm
having a dig at some of the bigots on this blog.

Heh…. Bigots…. Yeah….

#351 mitzerboy aka queencity kid on 02.28.15 at 8:34 pm

why is it that we as a species hate to love \/

#352 waiting on the westcoast on 02.28.15 at 8:47 pm

“#333 Washed Up Lawyer on 02.28.15 at 6:58 pm
Gonna frame #325. My first comment back from Garth.

Oh, and by the way it is “mute”.

Actually it’s ‘moot’. Frame this. — Garth”

Hence – why you are “WASHED UP LAWYER”… sorry – couldn’t resist it… ;-)

#353 Nemesis on 02.28.15 at 8:51 pm

[email protected][email protected]&HOC…

http://youtu.be/Q2-rUkPrWQ4

#354 cyclist on 02.28.15 at 9:03 pm

what gives? It’s not like I’m an alias for Mark.

#355 Cow Man on 02.28.15 at 9:09 pm

Sir Garth:

Mark adds a balance to the blog. His opinions appear to be based on facts interpreted the ways he chooses. Is that not what politics are about? I hope he is allowed to continue posting.

#356 Smoking Man on 02.28.15 at 9:14 pm

#349 Leo Trollstoy on 02.28.15 at 7:56 pm
I’m looking to reading Mark’s apology. Grovel away Mark.
…….

He won’t really mean it if he does. , I have a self taught PhD in Herd-o-nomics, I’ve evaluated him. It’s not in his nature, however he is addicted to this pathetic blog.

He’s addiction will be in a raging battle with his pride, he realy doesn’t know what to do..

Apologize, then be forever known as being the man no spine, the one who gave up his principles, to feed his emotional self. I’ll remind him of that every time he says something that pisses me off.

Or will he beat his addiction, never to return. Unlikely

As an addict of many demons, I can he will be back.

But boy, to be a fly on the wall and seen his eyeballs when looked at his post and saw the word Delete…

#357 Sue on 02.28.15 at 9:15 pm

#319 BS on 02.28.15 at 5:21 pm
“People like you actually do a diservice to women everywhere…”

Ah, BS, actually, I don’t. I’ve told you a million times not to exaggerate! :-)

You don’t see thoughtlessness and misanthropy (of various kinds), therefore it doesn’t exist? OK.

You spoil the effect of your other, sometimes interesting and well-argued comments, btw.

#344 BlackDog on 02.28.15 at 7:35 pm

If I changed this comment ever so slightly to: “People like you actually do a disservice to Chinese everywhere trying to find fault where there is none. “, I would be kicked off this blog, or forced into grovelling, just like Mark.

Perhaps, Mr. T. might permit me to call you a loundeye plick, BlackDog. Or perhaps, he might not. Shame really.

#358 Fed-up on 02.28.15 at 9:15 pm

#352 TurnerNation on 02.28.15 at 8:11 pm

Let me get this, people are paying 1m for a SFH here in Toronto all for -30 windchill last 2 months, rotten public transit, and 2nd world road systems (Don Valley Parking Lot, Gardiner Distressway, Lakesnore Blvd.)?
And the highest internet costs in the world, along with food and gas prices 30% higher than our nearby US neighbours?
We are a British owned tax slave farm/penal colony.
—————————————————————————–

Yep, mind bending isn’t it?

#359 Spectacle on 02.28.15 at 9:20 pm

Regarding:
#57 Mark on 02.27.15 at 8:34 pm
Garth, you do realize that I was attacking……..

So delete me if you want,

I will allow you to continue posting on two conditions. (1) You apologize to the person whose family you cruelly belittled and (2) if you have the support of others here. The floor is now open for comments on the fate of Mark. — Garth
**************** my Point *************

The Honourable Mr Turner provides this number one investment blog in Canada, for us to appreciate in our own way.

Enjoy visiting another blog all who are “Deleted, Banned! ”

I’m embarrassed to refere clients and friends to the blog of late, becaus of the caveats that I must explain. (yes , the endless bully ranting, numerous empty posts by said individual) . In other words, how to dig through the piles of doggy, in order to enjoy the quality Garth graciously and selflessly provides for us daily.

At no charge, no commercials or advertising: now that is freedom of expression and speech!

Perhaps the blogger can please change his name on here to ” I’m so sorry for being such a ……….” . Your ruining Mr Turners Art, and a gave a bad odour to a good name Mark! I read everything on here, and it’s “Different of late.”

2). Ps: a Wok kitchen, SPICE KITCHEN, OR CHINESE?? Kitchen referred to is a classy way for Asian cooking to be Wok fired with spices and not engulf the residence in oily , spicy fumes. It’s a second kitchen away from the main open kitchen. Try selling a new house in richmond BC without one, good luck if one can’t be retrofitted easily.

Thanks as always for the great writing Mr Turner , And the exceptional housekeeping! Top honours.

Regards

#360 Mr. Monday Night on 02.28.15 at 9:28 pm

#195 The Fuzzy Camel on 02.28.15 at 1:09 am

“Canadian women are not family oriented,so the population implosion will continue .”

————————————

Now that was an interesting generalization. Mind elaborating on that one?

#361 SWL1976 on 02.28.15 at 9:47 pm

Intriguing converstation anyways.

Always a great blog Garth, with a comments section second to none. Still haven’t got through them all but just wanted to add my 2 cents. I say let Mark remove his feet from his mouth and let him stay. If we will have us that is. Some dogs have been quite rude to him as well.

We all make mistakes and wish to take back some things we say sometimes. I know personally what both my feet taste like. Disrespect is bad but so is censorship.

Thanks always for the blog Garth, and the forum for us eccentrics to converse

Mark, if I could say one thing… Sometimes less is more

#362 Don on 02.28.15 at 9:53 pm

#329 Washed Up Lawyer on 02.28.15 at 6:13 pm

What is the vote tally? When do the polls close?

Confession. I voted 8 times using a different name for each comment. Gotta love electronic voting.

Without a Mark apology, it’s moot. — Garth

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

Exactly – we need to start enforcing consequences.

The whole of society needs a reminder before it is too late.

On a related note:
For housing it may be too late for some, all wealth in one asset. SELL NOW – we are not different than other humans. But the youth won’t sell because they can’t or won’t move. An the older ones are trying to cash out at the highest level. Both these groups will be caught with ‘deer in the headlights’ look. Not to say that all will suffer or suffer equally. Those who do suffer will be a drag on the surrounding environment – enough to acts as a catalyst.

#363 BlackDog on 02.28.15 at 10:08 pm

@Sue, you may call me whatever YOU like girlfriend.

#364 Detalumis on 02.28.15 at 10:11 pm

Pot calling the kettle black. “There are 9.6 million Baby Boomers (replace with GAYS/BLACKS/ASIANS) in this nation, petrifying with each breath, turning into wrinkly, leaky geezers before your very eyes. Of course, they already have all the good jobs and own the best houses, which they expect you to be buying from them in the coming years at the most inflated values in history. Yes, sucks. ”

I found that offensive. It’s fair game to stereotype 18 years of people using language that would get me banned if it was replaced with a reference to any other race, any immigrant group, gays or people of any other religion, but Mark gets banned for a comment that’s not nearly as offensive as what you yourself wrote about me.

Keep banning everyone, you will end up with something similar to all the sites that use Facebook, places like Huffington Post which has lost all the interesting commentators. You become nothing but a Facebook “mutual admiration society”, oh your grandchild that is indistinguishable from a million other kids, is just DARLING and no, you don’t look fat in that dress.

“It is not enough to “have” free speech. People must learn to speak freely.” C. Hitchens

There’s a difference between satire and malice. The former is what I wrote. The latter is yours. — Garth

#365 Industrial Guy on 02.28.15 at 10:17 pm

#315 Retired Boomer – WI on 02.28.15 at 4:43 pm

“Mark has stated there was no “venom” intended in his post. (see #57). For you to characterize otherwise is silly.”

Silly? Hardly …… Have you not heard the defense .. I’m not a racist? It usually uttered by those who clearly are.

Perception and intention are two very different things. If Mark stated there was no “venom” … consider it the fruit of the tainted tree.

Holding a grudge & harboring anger/resentment is poison to the soul.

#366 HJD on 02.28.15 at 10:26 pm

This has been an interesting read – the blog and all the comments (except for the Mark stuff). As for the sociological impact of immigrants in places like Vancouver and Toronto, the negative feelings these new Canadians may evoke will disappear over time. Even now one encounters beautiful young Chinese-Caucasian teenage couples, hand-in-hand and joyfully chatting (in English) as they get on with their lives. Relax. A couple of decades from now the negative slant of this immigration conversation will have disappeared.

#367 Chin Goldstien-O'Malley on 02.28.15 at 10:28 pm

You are off base and out of step with reality on HAM Garth….non politically correct commentators, posters, international newspapers and foreign governments disagree with you. If you don’t want to recognize ethnicity as part of your greater liberal strategy for Canada so be it….but denying the facts is unseemly….and frankly insulting. It’s like you’ve stepped back in time and deny the earth is round or is in orbit around the sun.

What should concern you is the origins of the HAM money that has flooded Canada…Vancouver and Toronto specifically. The government of the PRC has so many arrest warrants out for wanted criminals who have fled to Canada they have pounded the table to get Canada to begin extraditions…..to no avail.

Many of these wanted persons are real bad guys….with buckets of blood on their hands…who have razed villages……not just the garden variety bureaucrats who have looted ministries & bank vaults.

These people use Canada’s weak kneed laws on extradition with China with Canada dithers on ‘human rights and economic’ negotiations.

Fine…deny that there are no foreign buyers in Canada for the sake of your politics…but don’t dent the fact that Canada is a haven for foreign criminals whom Canada doesn’t have the political will to prosecute because of our incessant desperate political need to pander to special interest groups.

For Jeebus’ sake we hid Nazi’s in plain site for decades and had government officials swear they never existed. The same it is with the massive number of criminals from China using Canada as a money laundering pit.

So, Asian immigrants are criminals. You going with that? — Garth

#368 Industrial Guy on 02.28.15 at 10:30 pm

Please stop posting names like “Alberta is Finished”, “Ontario is Finished”, “BC is Finished” or Virginia is for Lovers ….. Nothing is further from the truth.

Don’t bet against Canada … You will lose. We’re just a little adrift right now. We simply need a new Captain with vision. Not some myopic technocrat who clearly hates the country that elected him Prime Minister. After all …. he did say you wouldn’t recognize Canada after he was finished with it. We don’t.

Brian Mulroney is beginning to look like a genius compared to Harper. OMG! that was painful to say.

#369 bob on 02.28.15 at 10:33 pm

Mark out. It doesn’t matter if he intended to or not intended to be racist, etc. He did it, he’s out.

But more to the point, it is a pattern of stupid trolling arguments. In this scenario, his stupidity in logic perpetuates harmful outcomes, like anti-vaxxers who think “it’s my choice”

Further, all professionals should be offended! These professional bodies (e.g. medicine, pharmacy…) try to hire the best. These children of immigrants got in. 1. they are canadian. Your argument already fails here. 2. they got in, they are smarter than the people who didn’t get in. Mark is arguing it is just as good to have a less smart doctor. 3. The entire math on net tax/public servant is also erroneous. This person probably can’t do proper math with regards to balance sheets, etc. etc.

out out out

#370 Love my Kia on 02.28.15 at 10:34 pm

I forgot to put in my vote…let Mark stay. I forgive him even if you wont.

I’ve seen much more offensive sexist remarks (to photos posted here) that I have yet to see you demand apologies for. I guess you have to be female to get it. Kinda hypocritical to ban one and let the rest go, but its your blog.

I would like to see everyone get back to the business of business. Peace out.

#371 AACI Home-Dog on 02.28.15 at 10:37 pm

#345…Pinstripe re: BC bud…

Grow market has tanked, I am quite sure, since Washington state, Colorado, and (as of July 2015) Oregon have allowed it’s use & marketing. Alaska, btw, has just come on board too, I hear. BC Biker gangs do not like it methinks…oops…hope I am not targeted for that…

#372 BlackDog on 02.28.15 at 10:40 pm

@Don re:

“Without a Mark apology, it’s moot. — Garth

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

Exactly – we need to start enforcing consequences.

Seriously Don? What do you do for a living?

#373 BlackDog on 02.28.15 at 10:44 pm

DELETED

#374 salonist on 02.28.15 at 10:45 pm

#359
dork

#375 TurnerNation on 02.28.15 at 10:48 pm

400th? I love blog posts at market/oil inflection points.

Where is Durango driving Blackberry-on-hip guy?

#376 BlackDog on 02.28.15 at 10:54 pm

too, not to

#377 Repent on 02.28.15 at 11:05 pm

Some of us have bad taste in our mouth when it comes to banning people for saying what’s on their mind or requesting public apology.

It is all too familiar from the countries we left.

Regardless of the topic of the day.

This blog reflects on all if us. I will not allow it to find the lowest common denominator in the name if free speech. — Garth

#378 Smoking Man on 02.28.15 at 11:34 pm

Today I got lectured by my kids. Worried about my smoking and drinking, and gambling. Not the youngest who’s trading my herdo system, he’s an un judgemental fan.

So I look in the mirror, I see the scars, drinking and Smoking do.

So do I change? , eat salad, go to gym. Get fit to prolong my life. My reward. A lifer in a nursing home cause I did all the right things.

I Lose the dignity and ability to write my name in the snow with a yellow highlighter. , to having my diaper changed by a nurse who hates the world cause her husband cheated on her and now hates anything that has a dangler.

No I will not put my kids through that. I’m checking out while I still can write my name in the snow..

Speaking of witch.. Ya the nurse.

Happy Birthday Dad.

Click on my name to see this beauty.. He’s here, but he’s gone..

Still love him. And see him twice a week.

Although he can’t speak with words, he’s still communicating with me via the UCC
.

Happy Birthday Pops.

#379 604Renter on 02.28.15 at 11:35 pm

Great blog post. I’ve been mulling this very idea about how Canadians are actually creating this fallacy that foreigners are taking over that many are feeding into. Thanks for putting it into words.

As the foreign born son of a foreign naval officer I should say “i am not sorry for my 17 years of education, my 80 hour work weeks and dedication to work”. Incidentally, my dad worked harder than me. We stole jobs? No. We work hard and have, like many, contributed hugely to Canada and its people. I am a medical doctor and I am a foreigner.

#380 SWL1976 on 02.28.15 at 11:36 pm

#337 Washed Up Lawyer

Gonna frame #325. My first comment back from Garth.

Oh, and by the way it is “mute”.

Actually it’s ‘moot’. Frame this. — Garth

——————–

Now that made me chuckle

WUL – Mama will be so proud

#381 Last of the Baby Boomers on 02.28.15 at 11:43 pm

I think we have agreed by consensus that there was a general mistake made in the reference to “immigrants” when the majority of individuals were objecting to “foreign inflow of capital” specific to the purchase of real estate which prevents those who earn an average income in Canada from having a consistent and assured place to raise their family. I believe Ralph Cramdown has touched on a very important area for debate as referenced by his post in #348: ” Quoting Michael Pettis from his book ‘The Great Rebalancing’ (2013):

“[…] net foreign inflows of capital are unlikely to generate long-term wealth for an economy. On the contrary, if foreign inflows fund consumption or speculative investments, for example in real estate, they can easily be wealth destroying in the aggregate…”

It is my belief that foreign inflow of capital should only be allowed to subsidize the growth of companies that have net research and development or production. Let the investors reap the benefit of their gain through production or development of product rather than by holding residential land. Why is there no government regulation on this? It makes absolutely no sense unless you are simply propping a sector of the economy rather than focussing on nurturing and developing a nation using the strengths and resources of that nation.

On the other side: Mark is articulate and provides thought provoking comments. We all make mistakes as human beings, and when we are young, we make many of them. Let us hope that we gradually learn from them and are not destroyed by negative comments and censorship before we mature enough to articulate in ways through sensitive means. I hope Mark chooses to join the group once again (otherwise Smoking Man will have to find another target).

Are you arguing that Canucks should not be allowed to own homes in Phoenix or Florida? — Garth

#382 Man on the ladder on 03.01.15 at 12:03 am

I am looking at the picture and it reminds me of buying a house now. Or immigrating to Canada.

The guy is obviously crazy for what he is doing. He is risking so much for so little. But he does it anyway – maybe he does not have a choice or he thinks he does not have a choice.

So he is going out on a limb the way how less desperate people would not.

The most interesting part is that the job gets done.

The same way, how people do absolutely crazy things, like immigrating without money, jumping into the unknown or sweating all the way to the last mortgage payment for a house they were never supposed to be able to afford by normal standards and they may have been better off by investing on the stock market.

You can look at that man on the ladder in many different ways…

I can see myself there at one point of my life, looking back from the comfort of my house, spending enjoyable time tweaking my investment portfolio, I really do think that I was crazy to do it, I doubt I could do it again, but I don’t regret it a bit.

Maybe I was just lucky. Crazy lucky.

#383 Mukadi on 03.01.15 at 12:07 am

I’ve never seen more than 200 comments on this blog. What happened yesterday?

This tsunami of comments shows how the population is sometimes ignorant of the governing laws. I am Canadian if I was born in Canada of Canadian parents or if I am a naturalized Canadian citizen, full stop. Without this reference point everybody who came to Canada after 1528 (Jacques Cartier) and their descendants will be perennial immigrants.

#384 Limbo on 03.01.15 at 12:08 am

Fan of this blog for longtime, never commented . I’m for keeping Mark, we need view from every angle.

#385 Washed Up Lawyer on 03.01.15 at 12:10 am

#383 SWL1976

Another failed attempt at humour on my part. So many times I have seen “mute point” in comment sections on the internet.

I know the difference between the two words. I have known the difference for thirty five years.

And yes, when I was drowning in the lake as a six year old, my mother yelled at the lifeguards “Save my son, the lawyer!!”

#386 BlackDog on 03.01.15 at 12:11 am

Garth, You are annoying, but at least you are consistent. Can we up the ‘deleted’ to a ‘kicked off’? I am into pain, really. Plus I think Mark needs a stand-in.

#387 Russ L on 03.01.15 at 12:13 am

abi Dmangycur on 02.28.15 at 11:03 am
Too Many Long-Winded Verbal Enemas in the Comments Section:
I enjoy reading this blog, but I assign TLDNR (too long – did not read) to many of the comments.
*************************
Thanks for the advice. I used it on your note.

Seriously Garth.

You’re still workin’ on yur blog at near midnight on a Saturday??
Please give it a rest. Take Dorothy & Bandit to bed.

As to Mark, I don’t mind him.
Actually I really wanted to believe the idiot position that the CDN dollar was going to par again this year. Since I didn’t pay off the stupid timeshare I got last year in Hawaii during a Smokin’ Man type tour.

Cheers to Lilloet. The missus & I took Goldie (Gold Wing, duh) for a nice ride today.
Livin’ the dream on Vancouver Island. Mom is nagging me already that Dad thinks the lawn needs a mowing.

Cheers, Russ

#388 Last of the Baby Boomers on 03.01.15 at 12:16 am

Are you arguing that Canucks should not be allowed to own homes in Phoenix or Florida? — Garth

Actually, yes Garth IF it hurts the families of Phoenix, Florida, Mexico, London, Sydney….

If families need stability in the area where they are employed they are forced to buy in an inflated market. (Either that or move every few years because the landlord thinks it’s a sellers market). Real estate purchase sucks up all of the investment funds. You said it yourself, Garth; no future except a one asset strategy. (Besides, substantial tax implications for owning a property in the U.S. when it comes time to sell). We need many more of these TAX implications for investment properties in Canada, but not at the time of sale. I suggest at the time of purchase. Win for the government, win for all Canadians.

#389 BS on 03.01.15 at 12:20 am

I think we have agreed by consensus that there was a general mistake made in the reference to “immigrants” when the majority of individuals were objecting to “foreign inflow of capital” specific to the purchase of real estate which prevents those who earn an average income in Canada from having a consistent and assured place to raise their family.

Are people really serious that foreign inflows of capital are behind the bubble?

How do you explain the bloated debt levels? Mortgage debt would be declining not going parabolic if the money was coming from overseas.

Or how do you explain similar appreciation in prices in percentage terms in areas with almost no recent immigrants? Prices tripled in Saskatoon just like Vancouver but you would be hard pressed to find a recent Chinese immigrant within 1000 KM of Saskatoon.

The CAD would also be higher, not lower, with the volume of foreign cash being converted to CAD to support a bubble this magnitude.

People are so focused on shiny objects they lose sight of reality. The shiny objects are the trophy houses being bought by wealthy immigrants touted by the real estate cartel through the media. These purchases are a tiny fraction of the market and have little or no impact on the part of the RE market the average Canadian would be buying into.

#390 Smoking Man on 03.01.15 at 12:22 am

#384 Last of the Baby Boomers on 02.28.15 at 11:43 pm

Look, Garth has a good connection to the UCC.. I’m convinced. Mark is a future serial killer. It radiates from his posts.

GARTHS instincts are right on..
Yes I’ve switched from mellow wine to aggressive JD

Mark, has issues.. But the schooled can’t see it.

Banish him for life.. He’s not human. I’ve been googling all night for robotic apps that write.. I found one.

It’s called Mark

#391 SealTeam0 Troll Division on 03.01.15 at 12:29 am

For all you who seem to be missing Mark.
900 Billion in CMHC loans, every penny is subprime.
Sorry I was not as long winded but that is his constantly repeated refrain and it is completely false.
Mark is a sexual intellect and he should go and be fruitfull and multiply by himself.

Those who think he made an apology, even if you believe it was weak, please note that next he launched into justifying his actions by pointing out all of the shortcomings of another poster. Additionally several posters have pointed out a number of times that he has been disinvited from participating on a number of other blogs. Makes you wonder why but I’ve not seen it for myself so who knows.

#258 Emma Zaun – GreaterFool Unpaid Intern #007
Now that was funny. The Crown Royal that was in my mouth got spit onto my keyboard in the outburst of laughter. Your unpaid salary should be tripled.

#392 Debtfree on 03.01.15 at 12:54 am

Who in their right mind would object to an avalanche of foriegn money ? I suspect those that do object to MORE money also consistently vote against their own self interest . Canukadumbnomics?

#393 Industrial Guy on 03.01.15 at 1:06 am

384 Last of the Baby Boomers on 02.28.15 at 11:43 pm

‘It is my belief that foreign inflow of capital should only be allowed to subsidize the growth of companies that have net research and development or production”.

You would be closing the door on the vast majority of foreign firms in Canada. We’re sadly a bit of a backwater when it come to R&D. Foreign owned firms tend to do their R&D at home. It’s one of the great negatives of our branch plant economy.

Gross Domestic Expenditure on R&D as a percentage of GDP, 2012 (%)
Korea 4.36
Israel 3.93
Finland 3.55
Sweden 3.41
Japan 3.35
Denmark 2.98
Germany 2.98
Switzerland 2.87
Austria 2.84
United States 2.79
Slovenia 2.63
Iceland 2.61
Total OECD 2.40
France 2.29
Belgium 2.24
Australia 2.19
Estonia 2.19
Netherlands 2.16
EU28 1.98
Czech Republic 1.88
United Kingdom 1.73
Canada 1.69
Ireland 1.66

The good news is …. we’re doing some. The bad news is $4.7-billion is spent on the SR&ED program …. it’s a bit of a sham.
The SR&ED program prone to abuse because “the risk of getting caught is low”.

A Globe & Mail journalist discovered that “Tax authorities routinely accept a significant percentage of refund claims with little or no vetting in what one CRA source called the R&D industry’s “dirty secret.””

Should we be surprised when firms conclude that “Gaming the program” going through the motions of R&D is a more profitable than actually developing new technologies?

#394 Nosty, etc. on 03.01.15 at 1:08 am

#165 Smoking Man on 02.27.15 at 11:49 pm — “It blew a gasket in his coconut. They took a dump in his back yard.”

This pic gives a somewhat better idea of the way the west is headed, and why there is so much BS being spouted forth by the m$m (after all, these were the whackjobs that kept telling sheeple thruout the world about Sadaam’s nuke WMD in Iraq, so I guess they must be right).

Russian Blogging Land also gives a perspective on why Putin had no reason to kill him, despite the fact Nemtsovs was put there by the west.

It brings to mind the line from Gimme Shelter: “War! Children! It’s just a shot away!”. WW1 began a few years after a GFC prior to 1910, WW2 began a decade after 1929 and WW3?

#395 Repent on 03.01.15 at 1:11 am

In my experience the lowest common denominator changes for the better by exposed to the light, not by kept under the rug, spreading in the dark.

Views are influenced most effectively by arguments – even the obviously stupid, most annoying views, which are so wrong that don’t seem to worth of dealing with.

Banning is easy – but it is giving up the chance to make a change. Putting efforts to make change reflects on us well. This entire thread is the proof of it. You can be proud of it Garth.

#396 Pulp Faction on 03.01.15 at 2:04 am

Good for you Garth, the gonads are alive and well.

#397 Ollie on 03.01.15 at 2:21 am

Grew up in Eastern Europe. The “communist” times… the country doesn’t matter. (using quotes because communism, fascism and everything you see around now is all the same.. but this is a different story) For a “westerner” I guess the eastern europe countries were all the same… For me, they were all different and a mystery. Anyway… wanted to relate a real story from back then real life which is not so obsolete now.
I was a student in university and headed back to my home town for the winter vacation. The weather was especially bad and the trains were not running on schedule. Maybe one out of two… I’ve got to the train station, luggage and all, the train was full, literally full, the last people who got onto the train, and felt enough was enough, closed the doors and held their back on them not to be opened by unwelcomed new travelers… with paid tickets. It was their “birth right”.
Countries and borders…
Money and stuff…
When was the last time when you gave a thought to your fellow?
Oh. Canada.

#398 tell me I'm wrong on 03.01.15 at 3:07 am

Could someone explain to me why the made in Canada rich desire to leave asap, but Immigrants investors see Canada as BPOE. Is it the superior business climate- cant be, both Singapore and HK have greater per capital GNPs though without any natural resource The great climate? The multifold employment opportunities? The great educational system, which for all practical purposes is nothing but a “keep them out of the work force as long as possible” government tactic.The high wages? The low cost of housing, services and consumer goods? The great tax climate? Garth, no one in their right mind who had money would want to immigrate to Canada, unless……Oh I better not say anything or I’ll be called a racist and thrown in jail. The truth is, altough Canadians like to think otherwise, Canada sucks as a place to live.Good god look at what the cat dragged in for our current leader, a true Bozo. The country would have been better off if we paid him to lay on a beach in Hawaii for his two terms!

#399 hypocrisy of suzuki on 03.01.15 at 3:40 am

#60 James

Suzuki also said that people should have less children b/c the world is overpopulated and not enough resources. So do what he says and not as he does b/c this Canadian media god has at least 5 children. He also has a high carbon footprint. He lives on some remote island. How do you think he gets to work? Swim and bike. He’s another Gomeshi….

#400 bhuthola on 03.01.15 at 3:43 am

Gartho your losing it buddy. So tired of how every comment about non whites is racist. To split hairs like you are to say Asian money isn’t driving up real estate, you obviously never get out much in Vancouver. Personally I like Asian immigrants. Glad they’ve cranked up the price of my crappy house (I’m selling). The biggest plus is the choice of restaurants we have now vs 10 years ago. I say bring Asians over. Hard working no religious hang-ups etc.

#401 I m migrant on 03.01.15 at 4:05 am

“Wealthy Global Buyers Favoring Montreal Spur 17% Gains” – http://www.bloomberg.com/news/articles/2013-12-04/wealthy-global-buyers-favoring-montreal-spur-17-gains (a bit over a year old, but clearly still relevant).

What to make of this?

#402 hypocrisy of suzuki on 03.01.15 at 4:06 am

#188 reg moss

So a group of people who stole land are now founding fathers and thus they are not immigrants?

If we go by this definition:
Immigration is the movement of people into a country to which they are not native in order to settle there

We are all immigrants b/c all beings come from Africa so nobody is native to any land outside of Africa.

#403 TRT on 03.01.15 at 4:06 am

Garth, you can’t censor the truth.

Otherwise this will become a fringe blog never to be taken seriously.

If I had it my way, I would want all 35 million people in the Punjab state of India here within 10 years. I hope you don’t object to that. Can you help get them here? Please….

#404 Can't look in the mirror on 03.01.15 at 4:28 am

What take responsibility? It’s more fun to blame others and preserve our self righteousness and correctness

https://www.psychologytoday.com/blog/hide-and-seek/201312/the-psychology-scapegoating

The ego defence of displacement plays a role in scapegoating, in which uncomfortable feelings such as anger and guilt are displaced and projected onto another, often more vulnerable, person or group.

#405 Turtle on 03.01.15 at 5:05 am

From time to time it is good for blog owner to show comments-section-ego-manics who is the boss. I am with Garth on this one. The young man crossed the line. Period.

#406 Oil Is Sticky on 03.01.15 at 5:57 am

Gas prices back up to $1.15 even with oil still below $50.

So what will they be at $85 oil? $1.85?

Canada. The only resource rich country in the world that squanders the wealth leaving it’s own people in high debt and a collapsing economy. Way to go Canada. No wonder we are earning a bad name in the world of business. Let’s add icing to the cake by going around invading country after country with troops and “freedom bombs” dropped from 20,000 feet.

#407 Harry Wilson on 03.01.15 at 6:29 am

Whatever it is in your DNA that compels you to educate us slobs, it can’t function without an audience. With your site’s traffic, every week likely sees hundreds of first-time visitors whom you could potentially save from themselves, but if the first thing they see is a comment section full of pooh-flinging monkeys, they’re not likely to stick around. Although I am usually a daily reader of your site, one sentence in the comments on your February 4th post drove me away for over two weeks. We both know that I’m beyond help, but many newer dogs, of your ideal target demographic, may have been driven away permanently.

Regardless of what happens with Mark, for that reason, I think that it’s time for you to say that enough is enough; there’s a new sheriff in town. Two possible steps would be to increase the font size of your ‘Helpful Reminders…’, moving the ‘Abusive, obscene, or disrespectful…’ rule to the top of the list, and replacing the simple ‘DELETED’ on offensive comments with ‘Deleted Racist Bull’, ‘Deleted Slander’, ‘Deleted Obscenity’, etc. I believe that the latter would make people think about what they are saying before they post it, and remove the thrill of collecting ‘DELETED’ labels like bad-boy trophies.

(Speaking of slander, did y’all notice the ‘paranoid schizophrenic with a tendency towards psycho killer’ comment from another frequent and articulate poster? WUL, I smell a lawsuit; this could be your comeback!)

The most important statement of today’s comments comes from one of the original players in this drama, Totalchaos, at comment #169: “Allowing negative comments normalizes these ideas”. We become desensitized to intolerance when exposed to it continually, and a spin of the scroll wheel is our response, when a kick in the ass is what is warranted. We need to become less tolerant of intolerance.

———————————–

I’ve always appreciated Mark’s presence on this site; to me he’s like the Jake LaMotta of the Greater Fool comment section: occasionally the loser of a decision, but never knocked down. He has suffered the slings and arrows of numerous trolls, stalkers, and sock puppets with a grace that few of us could muster. Perhaps that’s why the knee-jerk comment in question was such a letdown.

I hope that Mark continues to be a part of the comments section, but if his perception is that that will happen because he’s special, or we’d be at a loss without him, well, nice knowin’ ya, buddy.

———————————–

Speaking of apologies, a friend of a friend works in dispute mediation, largely between condo owners and condo boards and/or corporations (oh, the stories she can tell). She wrote a nice article on apologies, nothing we don’t already know, but a good refresher. The relevant point is that a genuine apology doesn’t include the words ‘if’ or ‘but’.
http://www.pdrc.ca/2013/01/apologies-201-advanced-course/

P.S. Sorry this comment was so long; if I was a better writer, it would have been shorter.

#408 Nagraj on 03.01.15 at 6:34 am

#352 TurnerNation and
#361 Fed-up
took note of grossly overpriced homes in Toronto, poor TTC service, lousy traffic management, and outrageous internet pricing, as well as the astonishing difference in American food and gas prices.

Nobody’s governing the country.
Harper&Co didn’t sit down and after some discussion decide to create a deadly housing bubble, consumer debt bubble, youth unemployment crisis, and a rapidly falling currency. When it finally became clear to them that they had a mess on their hands they discovered they couldn’t do much about it (and get re-elected).
The Ontario gov’t can’t afford to buy a postage stamp, never mind finding a lender to finance a new road.
Not a syllable of “housing bubble” has publicly soiled the lips of ANY politician in this country.
(And all parties hold the National Dairy Commission in high esteem.)

The housing bubble will burst, banks will have to up their loan loss provisions, the Gardner will continue to crumble. The unemployment rate will rise dramatically. The national currency will continue to deteriorate. The far left and the far right have a great future.

#409 Cow Man on 03.01.15 at 8:21 am

Sir Garth:

Just in case some of your blog’s readers doubt the tie between print media and the real estate sector, this should erase that doubt.
http://www.thespec.com/news-story/5452820-home-builder-s-president-says-industry-hobbled-by-inefficient-planning-process/
Allan Roshko the President of the Hamilton/Halton Home builders association is also the New Homes Sales Manager for Metroland Media which holds news papers including the Hamilton Spectator. No conflict there when it comes to reporting housing statistics?

#410 SWL1976 on 03.01.15 at 9:25 am

#388 Washed Up Lawyer – It wasn’t a failed attempt. It worked and worked again

#411 Sky on 03.01.15 at 9:41 am

Chin Goldstien-O’Malley : Kudos. You’re so fluid,such a poet. A joy to read in all your incarnations- Mr. Lahey, Rene, Emma Zaun, etc.etc.

Any chance of you telling us whereabouts you live in this land, being the slippery characters that you are?

#412 Jolie on 03.01.15 at 9:50 am

Actually Garth, I’m not so certain that the implication is all that clear. In fact, If you replace the word “steal”, with the word “fill”, the implication becomes a scathing comment on the complacency of our own child rearing skills. We are failing to impart the appropriate values and work ethic on our children. Shame on us. We have failed to keep up with the Global Community.
Had we not become so complacent in teaching our kids those intellectual and fitness skills, we would not need to import the skillsets to repair our mistakes.
This was not so much a Xenophobic reaction, as a comment on our own failure to promote science, as well as the ease with which our children could find employment in the primary industries, such as resource extraction.
Also, Garth, In a Social health Care society, Health Care workers are indeed Civil Servants as long as Governments legislate their fees and/or wages.
If you don’t think that’s true, just wait for the next Alberta Budget backlash.

#413 Victor V on 03.01.15 at 10:12 am

#391 Last of the Baby Boomers on 03.01.15 at 12:16 am

Are you arguing that Canucks should not be allowed to own homes in Phoenix or Florida? — Garth

Actually, yes Garth IF it hurts the families of Phoenix, Florida, Mexico, London, Sydney….

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

Why you should think twice about buying in Florida: Pape

http://m.thestar.com/#/article/business/real_estate/2015/02/27/why-you-should-think-twice-about-buying-in-florida-pape.html

#414 Sue on 03.01.15 at 10:20 am

#366 BlackDog on 02.28.15 at 10:08 pm

Oh silly me. What I meant to say:

Perhaps, Mr. T. might permit me to call him (i.e. BS) a loundeye plick, BlackDog. Or perhaps, he might not. Shame really.

And I probably shouldn’t argue with people anyway. I’ll just get covered in dog slobber :-)

#415 Leo Trollstoy on 03.01.15 at 10:30 am

Actually, yes Garth IF it hurts the families of Phoenix, Florida, Mexico, London, Sydney….

What’s the threshold? How many families does it have to ‘hurt’? 1? 10? 1000? And what is your subjective definition of ‘hurt’?

#416 Rob on 03.01.15 at 10:59 am

Why you should think twice about buying in Florida: Pape

http://m.thestar.com/#/article/business/real_estate/2015/02/27/why-you-should-think-twice-about-buying-in-florida-pape.html

I get a kick out of posters putting up news stories about real estate. First of all I find that 90% of what I read is usually wrong and it would of been wiser to do the opposite. Second of all it seems like real estate is impossible to predict. No one predicted that Toronto real estate would keep on trekking up. As far as Mark goes. The guy is a bore. I skipped his posts constantly. I vote no.

#417 John Mc on 03.01.15 at 11:18 am

Rob

Yawn.. zzzzz.. that was boring……

#418 FormerSaskie on 03.01.15 at 11:25 am

Wow! So many comments on Sunday. I guess you hit a nerve, Garth.

Re: Mark
Keep him barred.

#419 triplenet on 03.01.15 at 11:27 am

Most real estate boards publish annual reports which include statistical information including annual buyer surveys.
Vanvouver Island real estate – vireb.com
3 clicks and you’re reading the survey.
Easy. Surprising. Free.
For an annual fee you can subscribe to the various boards.

#420 crowdedelevatorfartz on 03.01.15 at 11:57 am

@410 Harry Wilson
“Sorry this comment was so long; if I was a better writer, it would have been shorter.”
+++++++++++++++++++++++++++++++++++
Fascinating. You posted a link of “Apologies” and broke all the rules that she postulated for a proper apology.

Oh the irony

But apology accepted.

#421 unbalanced on 03.01.15 at 12:00 pm

To Marko—I guess the jury is still out whether you stay or get the boot. Regardless what happens,YOU are still the winner here. I give you credit for speaking your thoughts. I’m not saying they are right or wrong because everyone has their own opinion. I see I rattled someone’s at # 324. In my eyes you earn respect. Nothing to see here, move along.

#422 Sue on 03.01.15 at 12:11 pm

#406 TRT on 03.01.15 at 4:06 am

Garth, you can’t censor the truth.
Otherwise this will become a fringe blog never to be taken seriously.
Clearly fallacious, old chap.

If I had it my way, I would want all 35 million people in the Punjab state of India here within 10 years. I hope you don’t object to that. Can you help get them here? Please….

OK, now you are talking sense :-)

It is also my opinion that Canada should bring in many, many, more millions of immigrants. Much more quickly than the present rate. And yes, it would upset our comfortable, smug, entitled life.

#423 Daisy Mae on 03.01.15 at 12:13 pm

#276 “Hey, Mark: “Re Mark, your call. If you do keep him, please allow him to continue bolding….”

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

What is the problem with bold print?

#424 Linda on 03.01.15 at 12:31 pm

Emma Zaun #233 & #258

LOL! Thanks for the laughs, we need them here today.

(If you ever get bored of this blog, you’d be a shoe-in to write policy speeches for the Ontario Progressive Conservatives!)

#425 Last of the Baby Boomers on 03.01.15 at 12:31 pm

@392 BS “Are people really serious that foreign inflows of capital are behind the bubble?

How do you explain the bloated debt levels? Mortgage debt would be declining not going parabolic if the money was coming from overseas.”
………………………….
Was not saying the foreign influx of capital is the sole problem but it sets off a pattern which builds on itself. The many posters on this blog have answered this question for you.

All it takes is for it to happen ONCE:

1)Influx of foreign capital to purchase the first home. 2)Purchaser uses the home equity from the first home to borrow and purchase their second home and so on….

We need government policy to break the cycle

#426 liquidincalgary on 03.01.15 at 12:39 pm

Sky on 03.01.15 at 9:41 am

Chin Goldstien-O’Malley : Kudos. You’re so fluid,such a poet. A joy to read in all your incarnations- Mr. Lahey, Rene, Emma Zaun, etc.etc.

Any chance of you telling us whereabouts you live in this land, being the slippery characters that you are?

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

my money is on sunnyvale trailer park

#427 Wildnutter on 03.01.15 at 12:42 pm

#426

I just want to know how you actually type in bold or italics in here… hmm

It would be good to just get back to the usual gloom n doom. He must be orgasmic with all the attention.

#428 Mak the inestor on 03.01.15 at 1:01 pm

At this point I as a Canadian am not really worried about who is buying houses.

The loonie has dropped more than 25%. My salary has incremented by 2% equal to inflation they say. That leaves me 23% poorer. Unless others in Canada have got a 25+% raise, they are in the same boat. In times like this do I care who is buying a house?

#429 TurnerNation on 03.01.15 at 1:04 pm

#411 Nagraj – we are governed with ideaology.

I notice the teevee newz is really selling OhsoScary stock footage of VeryBadMen firing weapons in deserts, and people with their faces covered.

What happened to the sell job of “Bath Salts” or “Syrian Rebels” in their new, pressed fatigues on their made-for-tv set? Ebola?
Same as the made-up Gulf War story about Iraqi army and baby incubators.
Brilliant strategiests and marketers and financeers are behind this. It works. Read the headlines. All made up.

Thump our chests, OurWayofLife. WTG H.

#430 Russ L on 03.01.15 at 1:12 pm

Test:

for italics

for bold

This was a test, please do not adjust your sit.

#431 VanCity D-Man on 03.01.15 at 1:30 pm

Mark’s comment that got him in hot water was not typical of his usual long winded replies. It was very abrupt. It came across as insensitive and predjudiced. He usually puts more thought into his replies. I agree with Garth’s recommendations for Mark to make amends before he can post again. I think Mark deserves another chance. I myself have put my foot into my mouth before. I think Mark would have called a Mulligan on this one if he could. I think Mark woud take this comment back if he could, but he can’t. BTW, I am a Canadian of Chinese heritage.

#432 Panhead on 03.01.15 at 1:33 pm

#401 tell me I’m wrong on 03.01.15 at 3:07 am
Could someone explain to me why the made in Canada rich desire to leave asap, but Immigrants investors see Canada as BPOE.
———————————————————–

Now you’ve done it … mentioned BPOE … might just awaken him.

#433 NEVER GIVE UP on 03.01.15 at 1:47 pm

370 Chin Goldstien-O’Malley on 02.28.15 at 10:28 pm

What should concern you is the origins of the HAM money that has flooded Canada…Vancouver and Toronto specifically. The government of the PRC has so many arrest warrants out for wanted criminals who have fled to Canada they have pounded the table to get Canada to begin extraditions…..

So, Asian immigrants are criminals. You going with that? — Garth
————————————————————-
Garth, If you have your ear to the Asian community you will hear that the above is largely true.
Just ask them yourself, they will confirm it.
Of course there are many (most are) honest immigrants but it sounds like you will have none of the other side of the story.
I will stand up to confirm the above is true to a much larger degree than you may think.
Canadians are soft and unable to digest the desperation of the criminal element that has immigrated to our country.
We buy their stories and let them in wholesale without checking.
I am pleased to say the Government of Canada has finally woken up and largely put an end to the hardcore money laundering of Chinese money in conjunction with the Chinese Government.
Likely a backroom deal was struck when Harper was in China.
These felons are no longer getting in easily.
Watch for a lag period and its effect on RE prices in YVR and YYZ

#434 liquidincalgary on 03.01.15 at 3:13 pm

what the hell is BPOE?

#435 BS on 03.01.15 at 3:22 pm

“Actually, yes Garth IF it hurts the families of Phoenix, Florida, Mexico, London, Sydney….”

Most families already own houses so the majority of the population along with the politicians view higher RE prices as a good thing. Did you ever hear anyone in the Phoenix area or other places in the US that crashed say the decline was a good thing? Nope. General sentiment is always high RE prices good, declining RE prices bad. Any government could set RE in decline with the stroke of a pen. For example in Canada just by significantly tightening CMHC policy prices would tank. No need to worry about immigration or foreign investment policy.

In other words increasing RE values is viewed as good to more people than people that view it as a negative. Hence government policy globally is about inflating RE. Keeps them getting elected.

#436 ham behind world bubbles??? on 03.01.15 at 3:48 pm

Hams are our scsoegiats. If we look at other places like USA’s, Spain, Ireland’s bubble, who was to blame? Government policies, easy cheap money. It is no different here. In to and vancouver, it is a place where wealthier immigrants like to live so coincidentally, it appears they are driving up house prices but actually they are caught up with the storm of cheap money which will hurt us all

#437 Alwyn on 03.01.15 at 4:25 pm

I read this blog to enjoy what Garth has written and to see what Mark (among a few others) thinks.

Garth is a witty eccentric with a high IQ who somehow finds the time and enthusiasm to entertain us day after day.

Mark is a well mannered man who has had a very good education in Economics and has been trained to “think outside the box”.

Together they provide a nice balance.

#438 Harry Wilson on 03.01.15 at 4:51 pm

Re #423 crowdedelevatorfartz:

I did agonize over that for some time, as well as I can agonize at 3am, but decided that the semicolon was enough of a separator between the apology and the explanation.

Sorry if you feel I was wrong, but I… oops.

Heh-heh.

#439 VanCity D-Man on 03.02.15 at 12:23 am

#437 liquidincalgary

BPOE – best place on earth

#440 straight six on 03.02.15 at 2:06 pm

re: RE, xenophobia and political correctness..
for no apparent reason YVR has added more flights to asia.. UBC is building luxury accommodation for foreign students, but none of this is relevant because it’s the $73K average income (you’re suggesting) that’s responsible for converting the west side of Vancouver into 3 million $ “blow-aways”.
Take the global “face” out of the equation and RE would be regional.. meaning we wouldn’t be comparing Vancouver sf rates to Hong Kong and NYC.. or Dubai.

#441 BlackDog on 03.02.15 at 8:35 pm

Just wanted to make the 444th comment.

#442 Ray on 03.03.15 at 5:59 pm

Probably beaten to death but. I used to CTRL+F Garth, but too much sarcasm. Then I would CTRL+F Canadian Watchdog for real content, but he’s gone. Brian Ripley has some charts, but CTRL+F Mark was the only way to read the comment section, multiple entries of great educated content.

Without him, there’s just nothing to read in the comments.