Trick or treat?

jd-2-modified

Hallowe’en is a mystery. Pagan, meaningless, pointless and expensive. But every year it gets bigger, apparently because people like dressing up and pretending they’re super heroes. Or fruits. In the US, for example, more citizens will celebrate this silly ritual than will vote. They’ll be spending $8.4 billion on a single night, turning their lawns into graves, gluing fake bats to their front doors, carving pumpkins to look like relatives and (at the extreme) renting costumes so adults can masquerade as a creepy clown, Beyoncé, Prince, a T2 voter or a deplorable.

This blog won’t be dressing up, since it’s plenty scary enough. But in the spirit of the moment, here are some relatively terrifying things to contemplate.

First, November the 8th. As you know, on Friday the meanies and poopers at the FBI informed lawmakers thy;re re-activating that probe into the Clintonian email disaster. The timing – nine days before the Presidential vote – could hardly have been worse, and the impact was immediate. Stocks dropped, currency markets reacted, ten million F150 owners went for a joyride and the election outcome odds abruptly changed.

The latest: Clinton has a 78% chance of winning vs Trump’s 21.4%. That’s still a decisive trouncing, of course, but it also means the goofy billionaire’s doubled his numbers in the last few months. Worse, Clinton shed ten points on Friday and now has negative momentum. This doesn’t man she won’t win (rational analysis says she will) but the election could end up being tighter than pundits expected, meaning the Trumpster may not consider it “a clear outcome” and decide to lead an armed rebellion (or at least Tweet a lot).

By the way, the Electoral College – not the popular vote totals – determines who gets to be supreme leader. Right now Clinton has 318 votes and Trump has 218, according to FiveThirtyEight.com. To win requires 270. As stated, this is getting ghoulish.

Now, here’s another blood-curdling thing, if you happen to own real estate in Vancouver. There’s hard proof now the Chinese Dudes tax has all but stopped the flow of foreign money into that market. The impact was sudden, dramatic, draconian, shocking and far-reaching. By announcing it without consultation or advance warning, and making the 15% levy almost immediate, the BC government scored political points with a confused electorate but sent out a harsh message to the world when it comes to investing in Canada, and especially delusional YVR.

From about 13% of sales, foreigners now account for  just 1%, and dropping. Of more than 12,000 trades in August and September, merely 150 were to non-Canadians. Realtor phones have gone silent. Audi dealerships are being swamped with early-lease returns. Open houses are funereal. Bidding wars have ended. In the past year the province not only took over the entire real estate industry regulatory function, but outlawed practices perfectly legal elsewhere in Canada, then dropped the hammer on one specific set of buyers. Meanwhile Ottawa raised down payment minimums, then imposed its MST, seriously restricted mortgage insurance and brought in a capital-gains-tax-exemption test.

This was layered over a market which we told you in May, June and July was already starting to roll over. Sales of detached homes were in freefall even before either of these governments decided to appease their electorates by overreaching on real estate reform. Now comes months of a market which will more resemble The Walking Dead than Love it or List It.

The inevitable result? Simple. Economic growth in Canada will be whacked, since housing-related stuff accounts for at least 15% of GDP. That could prompt the Bank of Canada to drop its rate a quarter point in the Spring (or sooner), cratering the dollar and increasing consumer prices. If we do slip into recession, our central bank will be almost out of bullets – and your ‘high interest’ savings account will be negative factoring in inflation.

More consequential, all those moisters hoping for lower house prices will get them. No, not enough to make real estate affordable in a country with a moribund economy, but enough to punish the homeowner class. Most at risk (as you have been warned in the past) are those with the least and the greatest equity. Young couples who bought in the last few years will see their paper gains evaporate, while their epic mortgages remain intact. The house-rich, cash-needy Boomers who resisted selling during the boom (‘But honey, where would we move?’) will see the greatest retirement windfall of their lives fade, never to return. Shudder.

Of course, no market is immune. From Ottawa to Victoria, the latest wild mortgage measures will have an impact, knocking out young buyers, killing sales and eventually dropping values. Markets will move from balanced to weak, to favouring buyers. Ironically this will happen when many buyers qualify to borrow less, face a weakening job market and cannot take the plunge.

Now, add in a NAFTA-shredding, Muslim-fearing, protectionist alt-POTUS after the 8th, and you’ll wish you’d read this pathetic blog more closely.

180 comments ↓

#1 jay on 10.30.16 at 4:59 pm

https://www.thestar.com/business/2016/10/23/finance-ministers-key-advisers-want-100m-canadians-by-2100.html This should fix that.

#2 JRH on 10.30.16 at 5:09 pm

I think all these newcomers are going to put a strain on things, and not in a good way !

That’s 85 years from now, and it’s only a suggestion, not policy. Let’s talk abut things that might happen in your lifetime. — Garth

#3 Herb on 10.30.16 at 5:15 pm

1. Which one is Smoking Man?

2. When, how and why did we go from a “negligible” 5% to 13% foreign buyers in YVR?

As reported previously, the BC government said 9% of buyers last summer were foreigners in Van, and 3% provincially. That rose to 13% in Van as buyers made haste to close deals and avoid the looming tax. Try to keep up. — Garth

#4 mark on 10.30.16 at 5:18 pm

Losing will be better for Trump at this stage anyway. He can take the momentum of the crooked Hillary FBI thing into his new TV network and pretend he’s the president in exile to his own financial advantage.

#5 Debtslavecreator on 10.30.16 at 5:20 pm

For many homedebtRENTERS, they will 24-36 months from now realize it was all trick and definitely not treat
We have been living in a delusional and pathetic world where financial illiterate, mostly broke, people leveraged themselves 15-20 to 1 to gamble on shelter and enjoying tax free capital gains while those prudent and living within their means got handed inflated property taxes, inflated home insurance premiums and the like

This nation is a third world nation masquerading as a first world nation but worry not the inevitable mathematically guaranteed outcome is before us now and what comes now over the next 5 years or so is deserved but unfortunately most will suffer. To hell with this corrupt and bankrupt system – rot in hell you will

Come 2020 it will be RIP socialism and Neoliberalism
Sovereign debt crisis is on deck

#6 Vancouver in the Rearview on 10.30.16 at 5:24 pm

As someone who lives in Vancouver, I have no problem watching the homeowner class get smashed by the fallout from the housing bubble. I made rational decisions about housing and made different choices from the mob, while they continued to bray about their genius and wealth from buying a shack in east Vancouver. Real estate is no basis for an economy, and there is no such a thing as a soft landing to this sort of irrational behaviour. It would have been better if this had happened five years ago, but it didn’t. It’s happening now, and the sooner the better. We need an economy that actually works to add value to the resources we have at our disposal. Building houses should be in service of our economy, not the basis for it.

#7 Joe2.0 on 10.30.16 at 5:25 pm

Hillary Clintons a criminal.
You should pay less attention to MSM and do your research.
Criminals go to jail.
Or they used too….

#8 TurnerNation on 10.30.16 at 5:27 pm

Dollarama already is stocking Christmas merchandise!

Just in time for flu season.
Onward Dristan Soldier.

#9 Mark on 10.30.16 at 5:27 pm

“That could prompt the Bank of Canada to drop its rate a quarter point in the Spring (or sooner), cratering the dollar and increasing consumer prices.”

Gotta disagree here. The dollar would become very strong if Canada went into a broad-based housing-led deflation. Why? Demand in Canada, for Canadian dollars, to repay debt. Little consumer spending. Higher rates are a sign of currency weakening, in that, currency depreciation is “made up” for by paying higher interest (curiously, countries which suffer significant currency depreciation also have very high interest rates, like India). So if Canada is in a position to cut, it is likely that the CAD$ will be much, much higher at that point than it already is.

Consumer prices, of course, with little demand and a much higher CAD$, would be falling. A quarter point or even a half point on rate cuts won’t do much there to stimulate demand. As it stands, the BoC will likely need NIRP and/or significant QE to keep Canada out of significant explicit CPI deflation across the board. This is one of the artifacts of having a robust economy that is so productive on the balance that, in periods of normal commodity pricing, we run substantial trade surpluses.

#10 South Etobicoke Trump Campaign Field HQ on 10.30.16 at 5:28 pm

Hi Garth, every one of your metrics quoted here to support the ruling tribes and invisible money (called “The Establishment” or as I prefer it – Global Borg), is wrong.

Please keep this posting in mind on November 10th.

The few islands of wealth that exist on both coasts and which somehow survived China’s comparative advantage are shrinking and the minorities that the Democrats treat like their own pets – no longer blindly vote Democrat.

Trump’s popularity among Blacks, is higher than any other Republican candidates’. We’ve yet to hear anyone qualify their slanderous accusations of racism, including on this blog.

Trump is running a Third Party campaign on the Republican ticket. The old order is about to be disbanded.

Unlike Obama panhandling for spare Change in 2008, looks like we’re going to see some real Change this time around.

Good times.

#11 Context on 10.30.16 at 5:32 pm

I had a terrible dream last night that Trump won the election. He was standing in his committee room to the cheers of the crowd as the voting came to a close on TV. Behind him was his security men all dressed in black who were laughing. Trump made his victory speech and began to peel off his latex face and it was the Smoking Man.

#12 Polls R Phake on 10.30.16 at 5:33 pm

FiveThirtyEight – Polls R Phake

Trump is going to win in a landslide

#13 Yaroslav on 10.30.16 at 5:37 pm

I thought foreigners were just 2 percent of Vancouver sales Garth, based on your past posts. What gives with 13 percent now?

As reported previously, the BC government said 9% of buyers last summer were foreigners in Van, and 3% provincially. That rose to 13% in Van as buyers made haste to close deals and avoid the looming tax. Try to keep up. — Garth

#14 Larry Laffer on 10.30.16 at 5:38 pm

Hmm… Baby Smoking Man with his daddy (or is he?)

#15 Doug t on 10.30.16 at 5:40 pm

BOO

#16 Pepito on 10.30.16 at 5:43 pm

Much of all that sounds pretty good.

#17 ABC on 10.30.16 at 5:52 pm

Ha too funny 78% chance, more like chance of the big house

#18 the other white meat (pork) on 10.30.16 at 5:53 pm

I’ve read this blog closely enough to see the number of foreign buyers jump from less than 5 percent before the tax, to 13 percent now, with no explanation of the huge margin of error.

Once the first house is seized by the Chinese government and its occupant spirited back to China to face money laundering charges, the amount invested will drop to near zero. A real shame because the Chinese neighbours I’ve known have been very good people, hard working and not asking for special treatment or government handouts, which is more than I can say for many of the “entitled” of which you have mentioned in past posts.

I also agree that this is a real embarrassment internationally and will direct much needed foreign investment elsewhere at a time when it is desperately needed here. Speculation in the housing market had to be addressed and God knows the participants must have seen this coming.

I’d also like to send Wild Bill (love that moniker) a personal thank you for having the intestinal fortitude to remove the punch bowl from the Bachanalian house humpers. Hopefully some sanity will return to the Vancouver market, despite the low rates. Now if we could just get parents to sober up….

#19 ALFRED E. NEUMAN on 10.30.16 at 5:54 pm

Garth, even I, AM beginning to worry ..!! What ?

#20 Count Flipalaot on 10.30.16 at 5:59 pm

Percentage for Hillary’s chances may change for the worse if this story gains momentum in North America.

http://www.dailymail.co.uk/news/article-3885072/We-did-determine-going-win-Hillary-Clinton-heard-tape-making-stunning-argument-fixed-2006-Palestinian-election.html

#21 Trump2016 on 10.30.16 at 6:06 pm

Drain the swamp!

#22 Andrewski on 10.30.16 at 6:08 pm

“And the meek shall inherit the earth”…

#23 PeterfromCalgary on 10.30.16 at 6:13 pm

Hey Chinese Billionares come to Calgary. We love rich people regardless of where they are from. No crazy 15% tax on housing here we don’t even have a property transfer tax. Plus because of low oil prices houses and office space are cheap here. We love the jobs you create by starting businesses and spending money!

Don’t worry about the NDP if Jason Kenny unites Alberta they will be gone next election.

#24 Dave on 10.30.16 at 6:16 pm

In Vancouver are we looking at a 30% correction in list prices or even more?

#25 Victor V on 10.30.16 at 6:19 pm

Immigration Minister John McCallum to reveal ‘substantially’ higher newcomer targets

http://www.cbc.ca/news/politics/canada-immigration-levels-2016-1.3825548

#26 Trrrrump on 10.30.16 at 6:23 pm

I don’t know where these odds are coming from but if you look at Florida where they’re giving almost live early voter results, Trump is in the lead and currently predicted the winner of Florida by a “landslide” or greater than 10%.

What happened to the MSM predictions and how can they be soooo wrong??????

Relatives of mine who worked for ABC and NBC national news in the US have given me the advice “Not to believe” very much as there spin doctors and spin meetings in those news rooms are working overtime on every news release.

#27 Sugarlips on 10.30.16 at 6:23 pm

13% foreign buyers eh, thought it was less than 5% spooky ;)

#28 Tom on 10.30.16 at 6:24 pm

The reason foreign purchases dropped to one percent is because all of the houses in Pt Grey have been bought.

#29 Damifino on 10.30.16 at 6:28 pm

We expect the USA Fed will not raise rates before the election ostensibly because they don’t want to be accused of influencing the outcome.

Why does the FBI have no such compunctions about reopening the “email scandal” on the eve of the vote?

Just wondering…

#30 Timmy on 10.30.16 at 6:28 pm

First of all, prices in Vancouver have barely moved, despite all the horrors of a massive drop in foreign buyers. Second, the Liberals are going to increase the number of immigrants to this country dramatically, so there goes any chance of housing dropping buy much or becoming more affordable. What jobs will they get when so many people are now unemployed? I don’t know, but you can bet they will sock their money away in Canadian real estate.

#31 Koshy Alex on 10.30.16 at 6:29 pm

“This doesn’t man she won’t win”

Garth did you have a pre halloween party with Smokey :)

Sorry Sir, I think Smokey will be proven right on November 9th

#32 Brian Ripley on 10.30.16 at 6:31 pm

Open houses are funereal. Garth

I went to an open house this weekend in Vancouver. A 700sf low rise condo for $600,000. It needed serious modernizing and no one was there apart from 2 very young realtors. They had no selling skills and I bet they will be looking for employment soon.

On my Vancouver price doubling chart http://www.chpc.biz/vancouver-housing.html#Double
I note that the chart shows the bulls were in charge prior to the 2007-2008 plunge that took the average Vancouver SFD price down $122,900, or 15.9% in 8 months (24% per year drop).

That correction looks pretty small to what has happened since then in this runaway market.

#33 Jungle on 10.30.16 at 6:32 pm

Low growth coming ahead.

#34 Role on 10.30.16 at 6:40 pm

Has anyone really been far even as decided to use even go want to do more like, Clinton, or Trump or Trudeau? Is can not be blast from past. Trump many canting, wonting fror them to get better, worse, not better. Bit the bullet on time for Nov. 8nd! Vote keenly, figure it all out!

#35 Big English on 10.30.16 at 6:48 pm

Our retired neighbours have been moving themselves out all summer. We’ve assumed to save money. Their corner lot in East Vancouver now has a for sale sign outside of it.

It will sell. Wonder how much less for than they were expecting

#36 Life among the pulsars. on 10.30.16 at 6:49 pm

Henceforth to be known as the hanging wiener election.

#37 john on 10.30.16 at 6:50 pm

As a former realtor who remembers when a 10% mortgage was a bargain,i can not even relate to the insanity that has swept across our country.

#38 Smoking Man on 10.30.16 at 7:02 pm

I love it when a plan comes together.

The surprise no one is expecting. Electoral collage can vote who they want to vote for.

Herdomoter says. Drain The Swap.

#39 Robert on 10.30.16 at 7:05 pm

When you say we should have 20% of our liquid assets in USD, is this equivalent to an (unhedged) Canadian ETF that tracks the S&P 500 (VFV for example)?

Or should 1/5 of my cash actually explicitly be converted to USD and then buy US assets?

#40 Hillary POTUS but Kaine will take over on 10.30.16 at 7:07 pm

Even if Hillary becomes president, if she gets impeached beacuse of the emails, welocme Tim Kaine! Tim must be thinking this right now and he seems very supportive of many conservative values..

#41 Wrk.dover on 10.30.16 at 7:11 pm

All first world problems.

I wonder what John Lennon would think about how far we have (not) progressed to this point in time, with what we have had to work with and for since his demise.

#42 MSM-Free Zone on 10.30.16 at 7:14 pm

In the long term interest of Canadians in general, I fail to see how anything in paragraph 7 is a bad thing. Bushing teeth after too much Halloween candy beats a root canal any day,

1) “…Foreigners flipping Canadian houses…” ≠ ‘investing’ in Canada,
2) Realtor phones have gone silent. Bidding wars have ended. (Probably a good thing as the slimiest and laziest of REALTURD’s will probably bail, leaving the more respectable and hardworking REALTOR®’s to pick up the trail)
3) “…In the past year the province not only took over the entire real estate industry regulatory function…”(every industry eventually attracts the regulation it so arrogantly brought upon itself).
4) “…outlawed practices perfectly legal elsewhere in Canada…” (legal ≠ moral/ethical, kind of like when you get ‘legally’ bumped from your cruise vacation when your connecting airline ‘legally’ sold 15 seats than can be physically found on your airplane),
5) “…Ottawa raised down payment minimums, then imposed its MST, seriously restricted mortgage insurance and brought in a capital-gains-tax-exemption test….” (Basically trying to undo everything the financial lobbyists tricked ‘F’ into incubating this insane bubble in the first place.)
6) “…Economic growth in Canada will be whacked, since housing-related stuff accounts for at least 15% of GDP…..” (Haven’t we been repeatedly highlighting the long-term stupidity of propping up our GDP with a housing bubble in the first place?)

#43 Randy on 10.30.16 at 7:27 pm

I`m excited about what will happen in the next 8 days. I hate the status quo.

#44 Treat on 10.30.16 at 7:28 pm

Before the Flood – Full Movie
Leonardo DiCaprio

https://youtu.be/90CkXVF-Q8M

#45 not 1st on 10.30.16 at 7:45 pm

Well at least on halloween I get some candy. I get nothing from voting except some self entitled politicians that do what ever they want anyway.

#46 Andrew Woburn on 10.30.16 at 7:47 pm

See, not all realtors lie all the time. Actually most are OK, especially if they want to have a long career in a smaller market like Victoria. It’s the fast buck artists in the metro markets you really have to watch.

“Real estate watchers had speculated that the new foreign buyer tax would send offshore shoppers to the capital region instead, where prices would be driven up by increased demand.

But Greater Victoria has not seen a higher-than-usual number of foreign buyers, Mike Nugent, president of the Victoria Real Estate Board, said Friday. And now, higher priced properties appear to be sitting on the market for a longer period of time.

Nugent said that while evidence is anecdotal so far, it seems fewer Vancouver buyers with deep pockets are crossing the water to buy here.

As the capital region’s market heated up earlier this year, Vancouver homeowners were selling homes and coming to Victoria to buy in core areas. They were willing to spend in the $1.2 million-and-up market, especially in Oak Bay, Saanich East and Victoria.

But as foreign buyers left the Vancouver market, that market cooled and sales dropped in that region, Nugent said.”

http://www.timescolonist.com/business/capital-sees-fewer-foreign-buyers-for-real-estate-1.2386602

#47 Debtslavecreator on 10.30.16 at 7:51 pm

Mark # 9- dude seriously you have no clue how currency nor deflation works
Your comments are bizarre and amateur
You need to stop reading Bob Prechter and EWI junk please

#48 bsallergy on 10.30.16 at 7:53 pm

Dampcouver boosters are as tedious as the orangeman group.

#49 BS on 10.30.16 at 8:05 pm

#9 Mark on 10.30.16 at 5:27 pm

The dollar would become very strong if Canada went into a broad-based housing-led deflation. Why? Demand in Canada, for Canadian dollars, to repay debt.

People take on debt because they don’t have money. If housing goes down they do not magically have the money to pay off that debt. People will have less money (and credit) as housing collapses and the economy goes into recession, people lose jobs, housing related business slow down, etc. Debt will be paid down less not more.

#50 Judah on 10.30.16 at 8:07 pm

“#5 Debtslavecreator on 10.30.16 at 5:20 pm
For many homedebtRENTERS, they will 24-36 months from now realize it was all trick and definitely not treat
We have been living in a delusional and pathetic world where financial illiterate, mostly broke, people leveraged themselves 15-20 to 1 to gamble on shelter and enjoying tax free capital gains while those prudent and living within their means got handed inflated property taxes, inflated home insurance premiums and the like

This nation is a third world nation masquerading as a first world nation but worry not the inevitable mathematically guaranteed outcome is before us now and what comes now over the next 5 years or so is deserved but unfortunately most will suffer. To hell with this corrupt and bankrupt system – rot in hell you will

Come 2020 it will be RIP socialism and Neoliberalism
Sovereign debt crisis is on deck”

Well said a 100 times over!!!

I would like to add, A deporable self-centred society full of greed, selfishness and entitlement!!!

A country that many would say “World Class”, but actually a country in transition that has yet to be established.

#51 Tony on 10.30.16 at 8:13 pm

Re: #25 Victor V on 10.30.16 at 6:19 pm

Canada doesn’t need anymore panhandlers, nor does this country need more people to sell roses on street corners or deliver flyers.

#52 Tony on 10.30.16 at 8:21 pm

DLR.TO trades in thin volume if you have a lot of money but is probably the cheapest way to play the dollar. You don’t need to convert to U.S. dollars and back to Canadian. You just buy it at the right time and sell it at the right time.

#53 Russ on 10.30.16 at 8:30 pm

Joe2.0 on 10.30.16 at 5:25 pm

Hillary Clintons a criminal.
You should pay less attention to MSM and do your research.
Criminals go to jail.
Or they used too….
============================

Common criminals go to jail. White collar criminals… it depends.

As Garth says,
“…avoid the looming tax. Try to keep up. — Garth”

#54 mike from mtl on 10.30.16 at 8:30 pm

As someone who wasn’t born yesterday, take any ‘official statistic’ and double it and you’re probably closer to reality.

Think about for example polling/questionnaires calls, who really answers those? Normal working people don’t have the time. Only weirdoes and unemployed bums have time to waste.

For example, I can tell that the statistic that foreign/non-primary resident of “real” downtown mtl is <10% is total BS. Probably closer to 20% maybe towards 30%. The amount of dark, clearly unoccupied units is as plain as day. Our downtown core is less than 10Km2 and fairly new for residential occupancy that makes it so obvious of the specuvestors.

#55 In Van on 10.30.16 at 8:32 pm

Do you not approve of the governments’ actions? What would you have done (in BC and federally and, go ahead, throw in Ontario) to deal with the housing bubble? And also…you will be calling the bottom of the market, correct?

#56 Marius on 10.30.16 at 8:36 pm

Question for those more knowledgeable than me:

Sold all real estate in 2010 and invested 1M. I would now like to divest from fossil fuels and weaponry. Looking for ethical investment options.

Any suggestions?

#57 GreaterFool D. on 10.30.16 at 8:39 pm

@27 – 5% in the province (BC), 9.3% in Van than increased to 13% to beet the sssssuper-tax. You must be local.

#58 Mark on 10.30.16 at 8:42 pm

“Mark # 9- dude seriously you have no clue how currency nor deflation works
Your comments are bizarre and amateur”

Hardly, and there’s nothing bizarre or amateur about my comments. When people take on debt, they’re shorting the currency. But we know that all shorts need to eventually be closed and repaid.

With Canadian consumers being so highly indebted, some of the most indebted in the world, there’s a huge amount of ‘short covering’ that must occur as RE prices fall and consumer credit dries up. It logically follows that there will be huge, probably almost insatiable demand for CAD$ to repay these shorts. Hence, a much higher Canadian dollar, and very low policy rates.

The people who don’t know what they’re talking about are those who think that interest rate differentials alone determine relative currency valuations. This is easily disproven by looking at Japan with its low rates, yet long-term currency strengthening. Its easily disproven by looking at various banana republics with high interest rates, yet chronically weakening currencies. In fact, the opposite seems to have more evidence to support it, that low rates tend to be associated with currency strengthening. Intuitively, this is because currencies which are in a state of consumer price deflation (or extremely weak inflation) tend to see lower rates as a policy response. If investment in said economies is made in an efficient manner or if there’s ongoing asset deflation, low rates can be sustained for a very long time.

In reality, its high rates that investors should be running away from. This means that an economy is so cr**py that the only way they can attract capital is by paying a high quoted rate of interest.

#59 WalMark of sadkatoon on 10.30.16 at 8:43 pm

Watching US election news is almost as entertaining as watching the CAD$ lose against the US$

Almost

#60 SWL on 10.30.16 at 8:43 pm

I’m going with treat.

As much as I do not like like the Donald or what he stands for. I do respect that he has been upsetting the apple cart with regards to the globalist elites and their ultimate plan to keep us deplorables in the dark and feed us you know what.

Hilary also caught on tape stating that they should have rigged an election…. Whooops…. Not surprising though, given the crowd she runs with.

For all the bombs America has dropped in the name of freedom and democracy, this election is proving that perhaps the American public has been misled on their governments true intentions, not to mention their imperial conquests over the past 40 years

This election year sure is summing up how poisoned the political landscape has become in America. Let’s just hope the have the dignity to throw in the towel peacefully…

For a blind person can now even see that no matter what the outcome on Nov 8th… They really have lost all credibility

#61 Ace Goodheart on 10.30.16 at 8:52 pm

“Hallowe’en is a mystery. Pagan, meaningless, pointless and expensive”

-Everything is Pagan, Garth. Christmas, Easter, New Years. All Pagan festivals.

Hallowe’en is the only one that the Roman’s couldn’t make Christian. I mean, what do you do with a bunch of Ghosts and Goblins?

Interestingly enough, if you ever have a chance to study 13th century European churches, you will find Hallowe’en, on the north walls. All manner of Ghouls and Goblins and whatnots, populating the Northern Walls of such masterpieces as the Freiburg Muenster.

Why are they there? Bad, cold, nasty things come from the North. Check the South side of the Churches, and you see happy creatures, the opposite of the North side. Happy, good things come from the South.

Hallowe’en is the dark, nasty North coming down to spend the winter with us. So we celebrate it. And until about 900 years ago, we used to decorate our Churches with it…..

#62 Mark on 10.30.16 at 8:53 pm

“People take on debt because they don’t have money.

Not necessarily. Most creditors don’t make loans to debtors unless they believe that they will have the ability to repay the loan in the future. So the creditor, when making the loan, usually must be satisfied that not only will the creditor be able to repay the principal of the loan, but also interest.


If housing goes down they do not magically have the money to pay off that debt.

Sure, but people with declining equity tend to not spend very much. Those twice or three-times a year vacations get pared back to one or none. Cars get driven 10 years instead of a more typical 7. This is the opposite of the so-called ‘wealth effect’ that saw people, on the strength of rising housing prices and the perception of increased personal wealth, take on more loans and increase their consumption.


People will have less money (and credit) as housing collapses and the economy goes into recession, people lose jobs, housing related business slow down, etc.

Far less spending, more debt repayment. Less spending helps the trade balance. Debt repayment creates demand for CAD$. The BoC will lower rates to try and stimulate the economy back to life, but since rates are already at 0.5%, they really don’t have much room to cut before they’re at 0% and into a classic deflationary trap. That’s why it will be very hard to keep the CAD$ down as the Canadian consumer is strangled by falling net worth, rising risk premia on their loans, and, of course, falling job opportunities in many sectors that are leveraged to consumer consumption.

#63 meslippery on 10.30.16 at 8:55 pm

‘But honey, where would we move?’

Thing is it would have to be hundreds of miles to off set
all the costs of moving,and have big coin left over…

#64 Rexx Rock on 10.30.16 at 8:55 pm

I know many in Victoria who one check goes to rent and the other for everything else.The best thing to do for all you renters is rent extra rooms to international students,no tax for $800 a month or rent a house with a basement and do airbb.People have to come up ways to survive.In Victoria or Vancouver its the San Diego of Canada.For couples to buy a run down old 2bd 1bth for $600,000 its not worth it.Paradise doesn”t come cheap.

#65 Barb on 10.30.16 at 8:57 pm

“…sent out a harsh message to the world when it comes to investing in Canada.”

——————————————————-
Exactly!

Maybe the Malaysian dude will go away too.
That’d be good, considering he’s a criminal in his own country.

#66 Pete on 10.30.16 at 8:58 pm

Trump it will be!

#67 Smoking Man on 10.30.16 at 9:01 pm

Halloween 2016

Will forever be known as Hallowiener.

Fallsview sucks. No WiFi. Shit machines, ugly servers. Can’t smoke, booze is not free.

And Wynee gets my donations.

Never again

#68 Cecil Henry on 10.30.16 at 9:04 pm

#25: ‘Immigration Minister John McCallum to reveal ‘substantially’ higher newcomer targets’

One problem: Africa for Africans, Asia for Asians, White countries for Everyone IS White Genocide.

The West including Canada is a culture created by a specific people and it will be destroyed if that people is dispossessed. Europeans everywhere have the self-evident right to secure their homelands for themselves, without regard to the claims others make upon it.

Nobody’s flooding Africa with Non-Africans and giving them free health care, affirmative action and special privileges.

Only White Countries are doing it, only White children are affected, and only White politicians are allowing it.

ITs a crime, not a ‘policy option’. And 100 years is NOT a long time. Look at the past 25.

Is it really plausible that the leaders of dozens of White nations have adopted similar policies antithetical to the long-term survival of their own peoples, yet none of them knew what they are doing?

My country was my home, now its a hotel. Canada is not an ‘economy’, it is a nation.

#69 WalMark of sadkatoon on 10.30.16 at 9:08 pm

Poor James Comey

https://www.dailymail.co.uk/news/article-3886942/amp/Resignation-letters-piling-disaffected-FBI-agents-wife-urging-admit-wrong-Director-Comey-jumped-chance-reopen-Hillary-investigation.html

#70 conan on 10.30.16 at 9:08 pm

Halloween is the best special day of the year. I think they should legislate, such that it is always on the last Friday of October.

Its awesome as a kid and then, hey….. better as an adult.

Beautiful women wearing cat costumes…….. , but I digress.

#71 Ace Goodheart on 10.30.16 at 9:13 pm

“The inevitable result? Simple. Economic growth in Canada will be whacked, since housing-related stuff accounts for at least 15% of GDP.”

Chartered banks are effing eff’d. Already the lay offs are starting.

Remember that buying opportunity for Chartered Bank stocks I told you about that would be happening in the new year? It’s about to get goosed into action….

Buy at a 25% to 40% discount and hold. Chartereds are always worth money. Last time they were on sale was 2008. I got a bunch for 1/2 off and kept them through the rise. I have more than doubled my money on them.

The next sale is about to come. Be ready. Have cash. Be a contrarian.

#72 WalMark of sadkatoon on 10.30.16 at 9:20 pm

Mark # 9- dude seriously you have no clue how currency nor deflation works Your comments are bizarre and amateur

You’re not the only one to notice. That’s why his bet on a rising CAD$ against the US$ has been a losing bet for 4 years.

The amateurism resulted in a forum ban but that’s beside the point

#73 fleabitten monkey on 10.30.16 at 9:26 pm

#46 A Woburn – Not too hard to figure that was going to happen. If you can’t sell your house in Vancouver you can’t cash out and move to Victoria. While I agree there were certainly Vancouverites cashing in on their gains and moving to the Capital Region, I feel this observation was strongly played by the CRD media and realtors to market the city and prime buyers for higher prices as the “Vancouverization of Victoria”. This seemed to replace the marketing strategy of foreign buyers coming in droves to the CRD. I believe the current news on foreign buyers in Victoria is that sales to them have actually fallen from 3.9% to 3.5% since August 2. Someone closer to the market there, please let me know if that is incorrect.
I spoke to a real estate bull last night who advised that detached homes selling there normally fetch 15%-20% over ask. That seems excessive and ridiculous, however, supply is exceeding low. Anyone here care to comment?

#74 WalMark of sadkatoon on 10.30.16 at 9:29 pm

Poor James Comey

http://www.dailymail.co.uk/row/mobile/news/article-3886942/Resignation-letters-piling-disaffected-FBI-agents-wife-urging-admit-wrong-Director-Comey-jumped-chance-reopen-Hillary-investigation.html

Ps: not sure the last link worked

#75 VICTORIA TEA PARTY on 10.30.16 at 9:34 pm

INTEL RECCE PATROL ON THE GROUND IN THE VICTORIA
REAL ESTATE TRENCHES…

Spent some time this afternoon stumbling through my area in our blessed city by the sea.

That would be Fairfield, Downtown and Fernwood (a neighbourhood which is hard to label, let alone imagine, but safe to walk through nonetheless, as I understand).

First: A condo project where a couple of realtors are busy flogging an as yet unbuilt, but neverlesss BEING built, project as I write this despatch, from my fox hole.

A 650 Sq. Footer is going for 370-plus k, while larger units, up to a 1,000 SqFt are available for more than 620k. About 40 per cent of the 32 units outfit have been sold.

Elsewhere most of the rest of this neighbourhood is occupied by a number of time-expired apartment buildings, some of which look really down at the heels, because they are.

A park next door to this new four-storey complex is a questionable place as well because of what goes on there at night with the homeless, drug users and other sad folks.

Daytime it is better, but the city works people go through the place in the early AM with a fine-toothed comb anyway looking for “bad” stuff so the tennis courts and other areas can be safely used by the general public. I wonder if that new condo will give this old park a new lease on life. Hope so.

Second”: Further over on a nearby street is a fourth floor 800 SF two-bed unit going for about 220 k. Unable to find a buyer, inspite of being on the market for several months earlier this year, this 40-year-old, um, dump is available for “offers” next Tuesday according to the realtor.

He told me the owners, after living there for the past six years, have to sell adding that they’ll be sustaining a net loss if they get the price they’re hoping for. It was interesting to see prospective buyers who came through. They were not impressed.

I was also told that there is little supply which means prices will be sky-rocketing real soon, because of so much demand! Huh?

Third: Across busy Fort Street, in Fairfield next door, a two-bed unit of at least a thousand square feet plus a nice balconey is going for 314 k.

The realtor told me it has been on the market for the last 25 days. He said he’s “never seen a market like this” in the last 40 years he’s been flogging other peoples’ properties. He added that he hasn’t sold a thing so far this year! While there, no one else came by to look.

As for price movement on an offer I was told the unit was purchased seven years ago for 290k. So the profit spread will be narrow indeed if it sells for the asking.

All that doesn’t necessarily say much about our market overall.

But I have to believe that St. Garth, of Redeem Now Before It’s Too Late, is right when he reports that Victoria real estate is heading for the “woodshed” big league.

Hallowe’en indeed.

#76 Ace Goodheart on 10.30.16 at 9:34 pm

“The house-rich, cash-needy Boomers who resisted selling during the boom (‘But honey, where would we move?’) will see the greatest retirement windfall of their lives fade, never to return. Shudder.”

I like my house. Don’t care what it’s worth. I put so much effort into it (do my own repairs) including sourcing yet another load of 100 year old Conn Smythe bricks from yet another tear down in our rapidly gentrifying neighbourhood (this load of old bricks will be used to rebuild the inside of our kitchen walls).

No way I’m ever selling this old place. Have no idea what it’s worth and don’t care.

#77 april on 10.30.16 at 9:42 pm

#30 Timmy – So wrong!

#78 Correction on 10.30.16 at 9:45 pm

Correction to the stats – Clinton has a 0% chance of winning the election after her personal emails (not the podesta ones) get released Tuesday evening. I’ll have my popcorn ready while watching the 6:30 evening news as it will be history in the making!

#79 Smoking Man on 10.30.16 at 9:46 pm

Drain the swamp.

http://www.wsj.com/articles/laptop-may-include-thousands-of-emails-linked-to-hillary-clintons-private-server-1477854957

Truth Justice and the American Way lives.

SM = Super Man

My logo is similar but inverted.
……

100% certain Hillary won’t win. Not saying The Donald will be the next POTUS either.

Machine is freaking out, anything posable.

#80 Smoking Man on 10.30.16 at 9:53 pm

#47 Debtslavecreator on 10.30.16 at 7:51 pm
Mark # 9- dude seriously you have no clue how currency nor deflation works
Your comments are bizarre and amateur
You need to stop reading Bob Prechter and EWI junk please.
…….

You ever watch that episode on Signfield were George dose the opposite, and wins huge.

Mark is the same way inverted.

What ever he says, bet Costanza opposite.

I don’t even have to think anymore with Mark around.

Hope he sticks around for ever.

#81 Econsensus on 10.30.16 at 9:59 pm

The Hillary Express is derailing.. Democratic pundit, political analyst Doug Schoen has renounced his support for Clinton. He stated ‘I’m deeply concerned that we will have a constitutional crisis if she’s elected’

Her Candidacy is a Constitutional Issue!

Hmmm.. I wonder if any Democratic State Officals will request Hillary to withdraw her Candidacy?

https://www.youtube.com/watch?v=wQ6PvrsUzcg

#82 crowdedelevatorfartz on 10.30.16 at 10:02 pm

@37 Joe 0.2
“You should pay less attention to MSM and do your research……”
*******************************************

Earned some “good time keyboard access” at your parents house did we Joe?

Pray tell.
Please enlighten us with YOUR non MSM unimpeachable sources as to Hillary’s criminality since the FBI have been trying for almost a year…….
And for God’s sake dont quote Dinesh D’Souza’s Clinton Cash Republican hack job…….
I want real, non libelous, verifable info …..you know…..like the MSM has to publish…..

#83 cd on 10.30.16 at 10:03 pm

speaking of the donald and halloween…

http://time.com/4041671/sexy-donald-trump-costume/

#84 victoria - the original on 10.30.16 at 10:10 pm

no. 46

thanks for posting that. I also wonder how many from vancouver REALLY came over and bought victoria re? the way people talk here it is almost as if they are coming over in boat loads….
As the capital region’s market heated up earlier this year, Vancouver homeowners were selling homes and coming to Victoria to buy in core areas. They were willing to spend in the $1.2 million-and-up market, especially in Oak Bay, Saanich East and Victoria.

#85 MF on 10.30.16 at 10:11 pm

#1 jay on 10.30.16 at 4:59 pm

Lol a focus group of Liberal fools living in some academic dreamworld joke. My girlfriend comes from a country where overpopulation is a problem, and it’s not pretty. As a matter of fact all everybody wants to do is leave as soon as possible. All these morons care about is pushing their globalist agenda. Anybody who voted for them is seriously dumb.

MF

#86 Al on 10.30.16 at 10:24 pm

The FBI must believe that Trump will win. Hence the email revelation to save their jobs.

#87 Goldie on 10.30.16 at 10:25 pm

One of things that I’ve noticed is that Trump supporters attack Hillary, while Hillary supporters attack both Trump AND his supporters. For all of the supposed “hate” that Trump allegedly promotes, it seems that much more anger and venom in this campaign is coming from Hillary’s side (supported and encouraged by most of the mainstream media).

#88 will on 10.30.16 at 10:28 pm

#6 “Building houses should be in service of our economy, not the basis for it.”

My sentiments exactly.

#89 Goldie on 10.30.16 at 10:30 pm

#78 Correction
If you think that the “6:30 evening news” will report anything negative about Clinton, you are probably going to be disappointed. They might mention something about some new leaks but that will be about it. Now, OTOH, if it had been something bad about Trump …. 24/7 coverage.

#90 Smoking Man on 10.30.16 at 10:38 pm

#85 MF on 10.30.16 at 10:11 pm
#1 jay on 10.30.16 at 4:59 pm

Lol a focus group of Liberal fools living in some academic dreamworld joke. My girlfriend comes from a country where overpopulation is a problem, and it’s not pretty. As a matter of fact all everybody wants to do is leave as soon as possible. All these morons care about is pushing their globalist agenda. Anybody who voted for them is seriously dumb.

MF
…..

Nice grasshopper, you’ve come a long way.
I’m hoping I had something to do with that. If not who cares.

You get it.. That’s all that matters.

#91 South Etobicoke Trump Campaign Field HQ on 10.30.16 at 10:42 pm

@#80 Smoking Man

You just noticed this now?

We’ve been reaping the market rewards of Marks’ misplaced predictions for more than half a year with our Inverse Mark 9000 ETF. By betting against everything he says, our YTD gains are nearly 25% beating every major market. We’re trying to get it listed on the TSX.

#92 mythbuster on 10.30.16 at 10:44 pm

Garth, given your political experience as a former insider I have to respect your opinion about the odds in the US elections. But I think there is something very important in these elections that is different from all previous ones that you have not yet addressed. It is this: Never before have US elections so clearly demarcated political socio-economic classes in conflict. On one hand, the war-mongering Clinton, the candidate fully supported by the elite, vs. Trump, who represents the disadvantaged ‘deplorables’ (to use Hillary’s term for them). We all often wondered: Who is ‘the elite’?! These elections made it clear: The ‘elite’ consists of three colluding groups of shared interests: (1) The government officials from Obama to Michelle, DOJ’s Loretta Lynch, etc., (2) The top bureaucrats from the CIA to the FBI, etc., and (3) The large corporate donors that are in control of the elected officials who in turn are indebted to their donors. Why do you ignore this near-revolution times in the US? Of course, a Clinton win will perpetuate and worsen the lives of the middle class as the ‘elite’ remains intact. A win by Trump will be a revolution, becasue the elite has no hold on him – and he might change the game. Why do you ignore the significance of this, essentially, a classic Class War?
My personal impression is as the former FBI asst Director said today: The Clintons are a crime family. And such, I beleive they will fail. Your thoughts, please.

That was balanced. — Garth

#93 rjrt81 on 10.30.16 at 11:15 pm

#85 MF on 10.30.16 at 10:11 pm
——————————————————————–

MF. i thought you take the high road. name calling is so beneath you. being a pillar of the comment section of a blog. the reason your girlfriends country is so over populated is because of the catholic church.

https://www.theguardian.com/world/2016/jan/06/philippines-axes-contraceptive-budget-birth-control

https://broadly.vice.com/en_us/article/why-filipinas-cant-get-birth-controleven-though-its-now-free-by-law

your argument is weak. again. time to pick up your game.

#94 Terry on 10.30.16 at 11:17 pm

Garth……….I’ll take the bait……..You still believe in the “FiveThirtyEight.com” statistics? hahahahahaha!

All of you got it all wrong if you think Clinton will win!

Trump is going to take this one BIG TIME! It’s all over for the Clinton’s, the Narrative, Globalization, Liberalization, bad trade agreements with countries of uneven economies of scale etc……it’s time for a new renewal and awakening of Conservatism, Populism, Patriotism and Protectionism!

Go Trump! Popular vote LANDSLIDE and a Electoral College Delegate count of 300+ Delegates. The swing States Delegates are coming over to Trump’s camp now!

#95 WUL on 10.30.16 at 11:19 pm

The US Presidential election is a nice theatrical distraction. The 60 individuals that own the US government (along with the MIC, CIA and FBI) will carry on as before.

Maybe I forgot to include the Cosa Nostra.

Pageantry. Berniesque of me. Sorry.

#96 Mark on 10.30.16 at 11:37 pm

Walmark, get treatment for your illness or disorder. Please. The disrespect with which you treat valued posters here is right over the top and has no place in any sort of discussion between what ostensibly is a fairly bright group of individuals here.

BTW, I seem to recall a year or two ago when practically everyone thought the BoC would be raising rates. I correctly identified, due to deflationary trends in the Canadian economy and flatlining/deflating RE, that the next BoC move would be a cut. Took a lot of flack for that, but history has vindicated me. Also, I correctly identified that the peak of the Canadian RE market would coincide with the peak of subprime, and we all know that occurred in 2013 with Flaherty’s crackdown on additional CMHC subprime mortgage guarantee authority. Capping such at $600B, a limit which has been respected in subsequent Conservative budgets and now by the Liberals who are tightening even further. And sure enough, prices peaked in 2013.

#97 WUL on 10.30.16 at 11:41 pm

How daft can I be. I forgot Wall Street in my comment above about where real political power resides.

Don’t take any election seriously.

#98 Colby on 10.30.16 at 11:42 pm

Call me selfish, call me the joker, but I wouldn’t mind seeing Canada slip into a recession and our dollar tank. I’m living in and getting paid in Korea monies. Hello exchange rate.

My millennial comrades could use a little taste of reality.

Hope none of my friends or family read this.

#99 15 % income tax suites me fine on 10.30.16 at 11:48 pm

Poloz killing the loon with zero rates will also kill those preferred Doug was talking about. I wonder if Canada is aware of how many experienced professionals are bolting for greener pastures? Who is going to build that infrastructure Junior crows about? Have you see the infrastructure in those third world countries?

Where I live and work all the managers are foreigners because the local talent , that Canada is keen to acquire, can’t get the job done without oversight. Who’s going to supervise the billions Trudy rolls out?

#100 WalMark of Sadkatoon on 10.30.16 at 11:57 pm

#80 Smoking Man on 10.30.16 at 9:53 pm
You ever watch that episode on Signfield were George dose the opposite, and wins huge.

Mark is the same way inverted.

What ever he says, bet Costanza opposite.

I don’t even have to think anymore with Mark around.

Hope he sticks around for ever.

A profitable way to look at it. Inadvertently worked for me with the decline of the CADUSD

Lets keep it going. Hope he doesn’t change course!

#101 JohnL on 10.31.16 at 12:13 am

Risk parity strategy is 30yrs old and way overbought.
Positive US rate moves will hammer both side of that trade.
Mark to market capitol loses will freak a lot of FI investors.
Hedge funds have been getting smoked in this going up/sideways everday market, but they will be the place to hit with rates beginning to bleed upwards.
Good luck out there!
P.S. US recession is closer then many think……….where are we early/mid cycle? NOT
Keep your stick on the ice!

#102 Frank on 10.31.16 at 12:26 am

Went to an open house in Vancouver. $750K for a 1200 sqft townhouse. 14 pairs of shoes outside the door.

Detached is falling apart but attached is still on fire.

#103 Dan on 10.31.16 at 12:37 am

Garth,
You’re a skilled bender…..(Wordsmith)
Dan
(gonna post this?)

#104 Grantmi on 10.31.16 at 12:58 am

Now, here’s another blood-curdling thing, if you happen to own real estate in Vancouver. There’s hard proof now the Chinese Dudes tax has all but stopped the flow of foreign money into that market. The impact was sudden, dramatic, draconian, shocking and far-reaching. By announcing it without consultation or advance warning, and making the 15% levy almost immediate, the BC government scored political points with a confused electorate but sent out a harsh message to the world when it comes to investing in Canada, and especially delusional YVR

so what’s the problem!?!?!?!?!??!

Should have been done a LONG time ago.

Thumbs up to Krusty Klark.

#105 boonerator on 10.31.16 at 1:17 am

Re: Trump winning.
You cannot ignore the boredom factor. A Trump presidency would be thrilling and exciting, something different every day. Like a never ending reality show.
Clinton would be boring, all that government experience. It reminds me of the choice between Gore and Bush.

Remember The Onion in 2001:
“our long national nightmare of peace and prosperity is finally over.”
http://www.theonion.com/article/bush-our-long-national-nightmare-of-peace-and-pros-464

They got that one right.

#106 Blobby on 10.31.16 at 1:28 am

Garth : as an ex politician, can you explain to me why the media is ignoring the trump rape case of 13 year old? Due in court in December?

Every time I mention it on CBC forums, I get moderated?

What’s going on?

#107 Blobby on 10.31.16 at 1:31 am

Trying to decide whether to cash in the 250k I have in USA, while it’s worth 320k cad…

If trump gets in, I could be in a post Brexit state, where my 200k gbp is now worth duck all

#108 ChickenLittle on 10.31.16 at 1:35 am

Yup…looks like Trump has a chance to win now. Getting enough popcorn for the next 9 days.

I think Clinton will win but I kinda hope Trump gets it.

We need more Pirate Parties in the world because volatility is good for long term investors.

#109 Polls R Phake on 10.31.16 at 1:54 am

Hillary loses it after an interview. I mean completely loses it and worries about going to jail.

https://www.youtube.com/watch?annotation_id=annotation_4024936831&feature=iv&src_vid=ADldeoKM9pE&v=_NfFAaPZqs8

#110 Karma on 10.31.16 at 3:14 am

Interesting read.

http://www.politico.com/magazine/story/2016/10/donald-trump-anti-semitism-young-jews-214314

#111 Throw on 10.31.16 at 3:29 am

Question. If the US 10 year hits 2 – 2.5%, but Poloz drops rates, won’t that still be enough to stomp preferreds in Canadian dollars? Wouldn’t the net effect be to stifle any recovery as money jumps the border!

It’s lunch time in Thailand, man it’s smoking hot. Also the Thai Baht is crushing the C$ YOY. The S.E. T has also advanced 16% YTD, making the net upwards 23% all in. Indonesia is also up 20 % this year. With the higher than average wages compared to Canada’s high cost of living, coupled with super low income tax and none of the cDNA cash grabs, people are doing good here.
IMHO if you’re not a civil servant , get the hell out of Canada, life can so much more fulfilling and richer in experience.

#112 jane24 on 10.31.16 at 3:31 am

Wow this blog is getting interesting again. To be frank Garth over this last year it was bit boring with little to talk about other than waiting for the RE shoe to drop. Now it has dropped and in a far more interesting way than I was expecting.

Re USA situation the worse outcome would be a win for Hillary on the Electoral College Votes and a clear win for Trump on the population vote. This would destabilise the USA for the full four year term as each questioned the validity of the result. I do think that this may happen. Or one or both of them 70 year olds keel over.

Having worked in many elections in both Canada and Britain the biggest factor though is voter turnout. The USA never has enough polling stations open and there is alway a massive queue, especially in the Eastern cities. Who will wait for 2 hours to vote? The lukewarm Clinton supporter or the angry Trump supporter?

BC is finished, I know BC well as I have family there. The problem is that there are NO well-paying jobs just contract, seasonal and tourist stuff. Most Canadians cannot pay a million dollar mortgage on those wages. I couldn’t. Before the Chinese investment, BC lived on other Canadians having the funds to sell elsewhere in Canada and retire to BC, especially Victoria. Now few can afford this option and more are willing to retire elsewhere. The deals right now for seaside living in Spain are very affordable. Check them out.

Note that the British media are reporting more Chinese buying in London now!!

The financial problem with Canada other than lack of jobs and geographical isolation is the harsh climate which is made worse by sky high utility bills. I cannot understand why Canadians put up with paying so much for utilities and can only conclude that they lack experience in paying normal global utility bills.

When my TO brother told me what he paid for heat and hydro for a 3 bed small semi, I couldn’t believe it. I live in a small, 4 bed bungalow on the south coast of England, think East York, Toronto, and for the fun of it I just totalled my yearly bills. I paid $848 Cdn for a year’s worth of hydro and $ 898 Cdn for a year’s worth of gas heating. Our climate is such that we don’t need air con in the summer and only morning and evening heat in the winter because why would you heat house in the day if you are not there or at night when you are in bed. But even so that is so cheap compared with Canada. How do my fellow Canadians afford these bills, how do they live their lives and go down the pub in the evening. Cheers. And yes interesting times.

#113 Albino and the Chipmunks on 10.31.16 at 3:57 am

Lol at the amount of Trumpers here. It’s rigged, it’s all rigged. Unless the fraudulent, racist sexual-assaulter wins. Then maybe not so rigged, right fellas?

#114 Johnny Carson Breakfast on 10.31.16 at 4:26 am

Beer and a cigarette.

My kind of guy.

Your picture is a Southern breakfast, JD and a cigarette.

Had a few Southern friends like that.

…the good old days G.

bsant

#115 Blah, blah, blah CAD $, Bank Rate on 10.31.16 at 4:40 am

#9 Mark, #58 Mark, #62 Mark

I’m with #80 Smoking Man…”not a clue”.

You are missing out on another career.

According to many Netflix reviewers, more precise, CERN Physicist accurate, Sci Fi writers needed.

Yes, I am in a bitchy mood.

Woken up yesterday by a 6.5 M earthquake, here in Italy, that I felt 300 km away.

bsant

[which I should rename to “Slowly Sliding into the Mediterranean”]

#116 Trump people, give it up... on 10.31.16 at 5:42 am

Righty Trump people, admit it, IT IS OVER.

RealClearPolitics excluding Toss Ups (a.k.a. Battleground States): Hillary 263…Trump 126.

Means H needs to win 7 more EC votes from the 149 EC Toss Up states.

Only God can save Playboy Trump now and I am sure, he/she/it does not care to [or the Big Electron in the Sky for all you Atheists].

Despite being surrounded by morons/dirt bags/liars like Podesta and Abedin, H is STILL running away with the US election.

bsant

#117 nubbers on 10.31.16 at 5:42 am

Have I missed something? Nary a mention of the impact of CETA in this financial blog.

Perhaps it is more immediately relevant to me, as a roving Canadian IT consultant living in post Brexit Little England, than it is to the average Canadian at home. However, I would quite like to know what [sensible] people think about it. Great opportunity? Globalisation threat? Chance to dump thousands of tonnes of Maple Syrup on an unsuspecting EU?

#118 Gramps on 10.31.16 at 7:12 am

#56 Marius
Here is a place where you can look at.
They don’t pay a high rate on deposits but your money is used to build churches. http://www.csservices.ca/planning.php?linkfile=mortgage

#119 pBrasseur on 10.31.16 at 7:19 am

Have I missed something? Nary a mention of the impact of CETA in this financial blog. #117 nubbers

Good point. Failing to sign CETA would have been a severe blow to Canada’s economic future, IMO far worse than a Trump (or Hillary) victory. As a small and exporting nation Canada needs predictable access to foreign markets. Securing this agreement at this point, when protectionist forces are rising in Europe and elsewhere, is very good news. We need more like this, an agreement with Great Britain should be possible for example.

#120 AfterTheHouseSold on 10.31.16 at 8:16 am

Meanwhile, back in Ontario, Ford auto negotiations down to the wire. Dissent in the ranks?

“Windsor Ford workers accusing its Oakville counterparts of “gambling” with the future of Ford’s Canadian operations by refusing to accept the pattern agreement reached with General Motors and Fiat Chrysler.”

http://windsorstar.com/business/local-business/ford-unifor-talks-painfully-slow-heading-into-monday-deadline

#121 CTO on 10.31.16 at 8:18 am

Garth

Sorry, a little off topic, (I’m blabbing about real estate again).

Middle burbs GTA, our neighbor sold his shack for +600,000. it was a dilapidated piece of crap, but simple and unobtrusive.
New owner, I think flippers bought it and are rebuilding from foundation walls up. its been a nightmare since they started 4 months ago. When they finish, it will be a 3600 sqft vanity palace including a 1500 sqft 2 story addition blocking out all the sunlight to our back yard and sunroom.
The new neighbors will move in and find everybody on the street hates them, then wonder why???
Sickening just sickening.
Any other examples out there of our City being ruined by these people???

#122 CTO on 10.31.16 at 8:21 am

By the way, the builder suggested that he didn’t like where I was parking my van in OUR driveway. He said he didn’t want to have to pay for a new paint job. well, at least he did show some responsibility regarding paying,…I guess.

#123 crowdedelevatorfartz on 10.31.16 at 8:25 am

@#87 &89 Goldie

our anti Tump viewpoints…
*******************************************

I dont think people are so much pro Clinton as horrified at the thought of a man…..
Who brags about assaulting women.
Who marries and divorces women at the drop of a hat.
Who refuses to reveal his income tax statements unlike all other presidential candidates for the last 40 years.
Who hasnt PAID taxes since the 1990’s
Who ran a charity that was shut down by the New York state authorities.
Who’s property management company was convicted of racist anti black policies.
Whoe recieved 12 million dollars from his father to “get started in business”
Who has been bankrupt.
Who’s older brother was ostrasized and ridiculed by him and his father until he drank himself to death at 45.
Who ran a “university” where thousands of students didnt recieve what was promised and the “degree” was worthless.
Who has no political experience.
Who has no foreign experience.
Who thinks war is an easy “coupla months ” with success garanteed.
Who speaks in generalities, promises nothing but generalities, and has recieved billions in free publicity from all the attention lavished upon him.
Even when he loses this election.
He’s already won.

#124 };-) aka Devil's Advocate on 10.31.16 at 8:58 am

Still hoping for a Trump win. North American society needs a good whack upside the head to be woken from their putrid Kardashian Disneyland dream state.

SHIFT happens, sometimes a ripple… some times a Tsunami. Let the games begin.

};-)

#125 };-) aka Devil's Advocate on 10.31.16 at 9:00 am

Don’t think a Clinton win will result in a whole lot different.

#126 MF on 10.31.16 at 9:02 am

#110 Karma on 10.31.16 at 3:14 am

Great link. Thanks for that Karma. There is a big divide amongst older and younger Jews. I do not think older Jews realize how hostile University and Campus colleges have become, and I do not believe Trump is anti-semetic one bit (neither is Hillary but Stein IS).

The new enemies hide amonst left leaning political views of fake “tolerance”. They then single out Israel any way they can to erode any support for her, and therefore weaken the Jewish cause. Being openly anti-semetic is not permissible so they hide behind the anti-Israeli, or more commonly, “anti-zionist” movements.

MF

#127 IHCTD9 on 10.31.16 at 9:12 am

#112 jane24 on 10.31.16 at 3:31 am

When my TO brother told me what he paid for heat and hydro for a 3 bed small semi, I couldn’t believe it. I live in a small, 4 bed bungalow on the south coast of England, think East York, Toronto, and for the fun of it I just totalled my yearly bills. I paid $848 Cdn for a year’s worth of hydro and $ 898 Cdn for a year’s worth of gas heating. Our climate is such that we don’t need air con in the summer and only morning and evening heat in the winter because why would you heat house in the day if you are not there or at night when you are in bed. But even so that is so cheap compared with Canada. How do my fellow Canadians afford these bills, how do they live their lives and go down the pub in the evening. Cheers. And yes interesting times.
_______________________________________

A lot of Northern Ontarians need to choose between food and hydro at this point. Some starve themselves through the summer trying to make it to winter when Hydro One is not allowed to cut power. Northern rates are way higher than Urban rates – so if your bro lives in Toronto – he’s got it easy. I know folks shelling out 500.00/month with electric forced air heat. My Brother in Law was near 4500.00 year with an old air/air heat pump for heat and A/C.

Hope you’re all listening Alberta folks. The Green Energy poverty generator machine will soon be at work in your province as well.

#128 tony on 10.31.16 at 9:52 am

Canada will need to increase immigration just to balance the tide of immigrants leaving Canada once reality hits they were just used for money and cheap labour. Two immigrant I used for various labour jobs left even though they were receiving welfare. Now that immigrants won’t be able to come here and get a free house will result in higher numbers leaving. Many who go bankrupt will leave as well just like we saw in 2008.

#129 Ole Doberman on 10.31.16 at 9:59 am

You guys remember ole Oliver Crescent in Vancity – dropped 600K since the summer:

http://www.rew.ca/properties/R2117926/2348-oliver-crescent-vancouver

This one dropped $200K since summer:

http://www.rew.ca/properties/R2085690/2159-w-king-edward-avenue-vancouver

Wish we saw action like this in Calgary.

#130 IHCTD9 on 10.31.16 at 10:11 am

#128 tony on 10.31.16 at 9:52 am
Canada will need to increase immigration just to balance the tide of immigrants leaving Canada once reality hits they were just used for money and cheap labour. Two immigrant I used for various labour jobs left even though they were receiving welfare. Now that immigrants won’t be able to come here and get a free house will result in higher numbers leaving. Many who go bankrupt will leave as well just like we saw in 2008.
_____

Looks like many are already on that train:

https://www.thestar.com/news/immigration/2016/10/31/thousands-of-immigrants-quietly-giving-up-permanent-resident-status.html

#131 IHCTD9 on 10.31.16 at 10:25 am

#120 AfterTheHouseSold on 10.31.16 at 8:16 am
Meanwhile, back in Ontario, Ford auto negotiations down to the wire. Dissent in the ranks?

“Windsor Ford workers accusing its Oakville counterparts of “gambling” with the future of Ford’s Canadian operations by refusing to accept the pattern agreement reached with General Motors and Fiat Chrysler.”

http://windsorstar.com/business/local-business/ford-unifor-talks-painfully-slow-heading-into-monday-deadline
_____________________________________

All will be fine. Trudeau will be along soon enough with the federal chequebook in hand – just like he did with GM and Chrysler.

I can’t imagine our lefty union loving collective governments will let 6400+ high paying Union auto jobs just walk out of the country on their watch.

No, those plants will be paid hundreds of millions until some government comes along with enough southern brass to say “No”, and that’ll be it for whatever’s left of Ontario’s auto sector “manufacturing engine”.

I have a buddy at Honda – he’s praying for another financial crises, and another early retirement incentive so he can bail early with a big cheque. He was too young to bail back in 2008 – he doesn’t even care now, he’ll take the money and run the next time around.

#132 Keith on 10.31.16 at 10:36 am

#117
The problem I have with trade deals since the original FTA is that they contain dispute settlement mechanisms that allow corporations to sue Canada for lost profits when our laws forbid their products. Allowing corporations to demand compensation for our laws over the environment is a serious compromise of our sovereignty.

I am not agains free trade agreements, but I believe that the scope of the agreements we have negotiated is too large and gives too much power to the private sector. There are some successful sectoral agreements in our history such as the auto pact and on softwood lumber that have been winners for all concerned which is the only reason to have them in the first place.

#133 James on 10.31.16 at 11:35 am

#67 Smoking Man on 10.30.16 at 9:01 pm
Halloween 2016
Will forever be known as Hallowiener.
Fallsview sucks. No WiFi. Shit machines, ugly servers. Can’t smoke, booze is not free.
And Wynee gets my donations.
Never again
……………………………………………………………………
You are Donald Trump! You just insulted the servers at the Casino Niagara Falls. “Ugly servers”
Just so we know you are a millionaire correct?
So why do you care about wifi?
So why do you care about free booze?
Didn’t your mother tell you smoking isn’t good for you?
It effects your growth in your Cerebrum and Amaygdala.
Ugly servers, gee-sh, are you not the one with rotten teeth? Go back to your imaginary dream world buddy.
Ha millionaire, if I had millions I could care less about a bottle of Bordeaux and my data plan wouldn’t matter at all.

#134 n1tro on 10.31.16 at 11:39 am

“Criminals go to jail”

Only poor criminals. People in office at the highest level can use the excuse they “didn’t know” as a get out of jail card.

Case in point, our ex-PM Brian Mulroney and “I thought that the $225K in cash given to me was a gift.”

https://www.thestar.com/news/canada/2010/05/31/brian_mulroney_acted_inappropriately_in_accepting_cash_inquiry_finds.html

Same with Harper’s buddy Nigel “giving” Duffy $90K to payoff his scam housing expenses.

Confirmation from the inquiry that there was no wrongdoing in either case should shows the system is rigged.

#135 Context on 10.31.16 at 11:51 am

#119 pBrasseur: I read both versions of the signed CETA agreement and had no clue what the legal language was stating because it was all a lot of booga. I challenge anyone to explain what was really signed.

#136 IHCTD9 on 10.31.16 at 11:53 am

#50 Judah on 10.30.16 at 8:07 pm
“#5 Debtslavecreator on 10.30.16 at 5:20 pm
For many homedebtRENTERS, they will 24-36 months from now realize it was all trick and definitely not treat
We have been living in a delusional and pathetic world where financial illiterate, mostly broke, people leveraged themselves 15-20 to 1 to gamble on shelter and enjoying tax free capital gains while those prudent and living within their means got handed inflated property taxes, inflated home insurance premiums and the like

This nation is a third world nation masquerading as a first world nation but worry not the inevitable mathematically guaranteed outcome is before us now and what comes now over the next 5 years or so is deserved but unfortunately most will suffer. To hell with this corrupt and bankrupt system – rot in hell you will

Come 2020 it will be RIP socialism and Neoliberalism
Sovereign debt crisis is on deck”

Well said a 100 times over!!!

I would like to add, A deporable self-centred society full of greed, selfishness and entitlement!!!

A country that many would say “World Class”, but actually a country in transition that has yet to be established.
____________________________________________

A large chunk of Canada is short on morals, self control, and brains, it’s pretty much these three shortcomings that have us with the governments we’ve got, and collectively at the doorstep of a major recession and who knows what else going forward.

For those prudent Canadians who have avoided debt, managed to save, paid their mortgages and owe nothing to anyone – may I suggest the following:

Starve them.

We pay more than enough; and virtually none of it ends up amounting to anything good for 95+% of the population. The last few years have seen insane expenditures both in quantity, and what it’s spent on. I happen to be one who will not be expecting a fiscal turnaround for Canada at this point no matter who gets in – too far gone.

Sock it into RRSP’s – make them pay you back
Buy used instead of Retail on the big stuff tax free
Limit and detach yourself conventional energy any way you can – big taxation here
Consume less – control lifestyle inflation
Learn to do things yourself that used to require a contractor or professional.

Feed them less.

#137 James on 10.31.16 at 12:07 pm

Just as we suspect its all BS regarding the US election. No wonder you can sell the Brooklyn Bridge to unsuspecting Americans.
https://www.buzzfeed.com/craigsilverman/partisan-fb-pages-analysis?utm_term=.regaa2E5or#.ifV8817AWE

#138 Tom from Mississauga on 10.31.16 at 12:12 pm

So how about consumer debt crossing the $2T mark a year after T2. Is that scary enough?

http://credit.bankofcanada.ca/householdcredit

#139 Bram on 10.31.16 at 12:22 pm

So yeah, if you go by list prices, Vancouver detached housing market has indeed crashed.

https://www.realtor.ca/Residential/Single-Family/17460671/1011-E-45TH-AVENUE-Vancouver-British-Columbia-V5W1Y3

Last time you could buy a nice looking detached house with park-view in Vancouver for $1M was 2010 or so. (granted, the example has a small lot, but still!)

Also, pretty much all the detached listings get re-listed for much lower, I have noticed.

At this rate, we can expect the 1M dollar border between W and E to re-appear next year.

#140 Context on 10.31.16 at 12:24 pm

Lots of discussion about hydro costs as a few years ago assisted someone in Utah to establish free hydro. All is available to establish micro hydro with a nearby flowing of water with a small stream. You generate your own hydro power and the kits can be bought and assembled for a few thousand dollars. There are different models depending on the amount of power needed.

#141 Ace Goodheart on 10.31.16 at 12:29 pm

#127 IHCTD9

“A lot of Northern Ontarians need to choose between food and hydro at this point.”

No kidding it’s ridiculous. In Northern Ontario there are basically three ways of heating your house:

1. Electricity
2. Propane
3. Burn something.

A lot of people opt for #3 (there are plenty of trees if you can cut them down, split them and dry them in a year or two you can burn them).

#2 sucks and is hard to do especially due to the ridiculous amount of power outages that keep resetting your propane furnace and the problem that when you run out of propane (which is stored in a large tank on your lot) you have to get a truck in to refill it, which is not easy on Northern Ontario roads in the winter.

#3 is ridiculously expensive. Upwards of $600 – $800 per month in the dead of winter to heat an average sized house. Remember it is -30 outside so you are bringing up the temperature around 50 degrees (to 20 degrees in your house). You have to maintain a 50 degree temperature differential from inside to outside, which is insane.

Then there are the power cuts. They last for days. A good January storm can knock out the grid for 2-3 days until they get the helicopters in to string the lines back up. The forests aren’t maintained. Trees fall on lines all winter long. Snow is hard on branches. The well to do have diesel or propane generators. The poor just burn stuff to keep warm until the power comes back.

#142 Bram on 10.31.16 at 12:32 pm

#68 Cecil Henry on 10.30.16 at 9:04 pm

How did this get passed Garth?

Anyways… by your logic, Canada belongs to First Nations people, not to white Canadians.

If you are white and want Africans and Asians out of Canada, then you may as well start with yourself, and go back to Europe, if they will have you.

Immigration is what’s keeping Canada healthy. With such an abysmal birth-rate, there would be no younger generation paying taxes and providing for you in your senior years.

Bram

#143 Mark on 10.31.16 at 12:35 pm

http://calgaryherald.com/news/local-news/a-perfect-tenants-market-calgary-landlords-scramble-to-reduce-rents

“Data provided by Hawkins shows the average price for all Calgary properties listed on his site has plummeted from a peak of $2,137 in July 2014 to $1,426 this month — a decline of 33 per cent, or $711.”

Ouch! First the landlords suffer falling prices (by many estimates, Calgary house prices have dropped over 25% since the 2011 peak), and now are suffering falling rents.

““It’s huge. That essentially puts almost $5,000 more net income into our household that we can save,” said Eastgaard, who is president and CEO of the financial literacy website Money After Graduation.”

Sure smells highly deflationary to me. Falling rents. Rising savings rates. Highly indebted speculators/landlords (ie: the ‘landlord families’ that I talk about lots) having their spending power absolutely chopped off at their knees. And certainly the banks will respond by increasing risk premia on the loans written in places like Calgary as the risk of default rises.

#144 Balmuto on 10.31.16 at 12:39 pm

Well amidst all the hullabaloo about the new mortgage rules I notice the best 5 year fixed rate has just dropped to 1.93% on Ratespy (previously it was 1.95%). I absolutely agree that in theory rates should be going up but I’m skeptical about that happening when I see rates still going the other way.

Butler Mortgage? Seriously? — Garth

#145 bdwy sktrn on 10.31.16 at 12:50 pm

GRANDVIEW SALES REPORT – THIS WEEK

1955 KITCHENER STREET $1,349,000 SELL $1,400,000
DOM 1 – ONE day on market (just like old times!)
sold 50k over ask, small lot, small old house, nice hood

why aren’t you ‘van is crashing’ folks out in force warning these foolish buyers?

#146 bdwy sktrn on 10.31.16 at 12:57 pm

found another one…

1834 NAPIER STREET $1,699,900$1,680,00
just a hair under ask , 26 dom

the huge increase in listings (like 4 houses) is being picked off slowly, back to ultra low supply.

#147 GreaterFool D. on 10.31.16 at 1:01 pm

DELETED

#148 maxx on 10.31.16 at 1:01 pm

#29 Damifino on 10.30.16 at 6:28 pm

“We expect the USA Fed will not raise rates before the election ostensibly because they don’t want to be accused of influencing the outcome.

Why does the FBI have no such compunctions about reopening the “email scandal” on the eve of the vote?

Just wondering…”

Better late than too late?
I’d certainly want it out in the open.
The cigar thingy was, why not this too?

#149 Mike in Edm on 10.31.16 at 1:04 pm

I haven’t provided any updates regarding Edmonton lately, so here goes…

There are some jobs out there, but you are competing against hundreds (if not thousands) of other people, so you’d better be at the top of your game if you want a second interview.

Things are slow, but this slow is the new normal. I think we’re all used to it by now. Was out at a Jasper ave pub for Halloween and it was busy, but no line up. I probably would have been shocked if that happened 2 years ago.

I was also down in Calgary a couple weeks ago for a conference. Went out a couple nights on Stephens Ave during a Jays game and next night a Flames game. Both nights the “best bar for watching sports” as my local friend put it were maybe 80% full, when he said a couple years ago there would have been a lineup out the door to get in on a regular weekday (non-game) night. He and a few of his coworkers were telling me of the horrors of Calgary and yeah I witnessed it – Stephens avenue is pretty much a ghost town from how it once was.

As for housing, There’s 3 for sale on my street. 2 have been listed since July and haven’t budged on price. I also haven’t seen them have any viewings either. The one is listed at $70k more than the other 2 for no foreseeable reason. I can’t believe home owners and realtors are still that far out of touch with reality! A few more areas that I watch have all experienced at least 10% price reductions (City, suburbs, and acreages).

I think the mood for the most part is “We’ve survived 2 years of this so far, it probably won’t get much worse, but it’s probably also not going to get much better for another 2.5yrs when we get to boot the NDP out for another 40 years. So just hang in there, keep your belt tight, and it’ll get better eventually once again.” We’ve still yet to see anything from the NDP on how they are going to improve and diversify our economy other than by announcing they will start to go out for RFP’s (request for proposals) for whom may be able to build a 100MW solar station that could power something like 18k homes or something (peanuts).

#150 bdwy sktrn on 10.31.16 at 1:12 pm

#8 TurnerNation on 10.30.16 at 5:27 pm
Dollarama already is stocking Christmas merchandise!
Just in time for flu season.
Onward Dristan Soldier.
***************************************

From time you commented on some hot stocks like dollarma, ever paid attention to cgc?

#151 n1tro on 10.31.16 at 1:12 pm

crowdedelevatorfartz, can you at least put out something that doesnt show your bias…

I dont think people are so much pro Clinton as horrified at the thought of a man…..

“Who brags about assaulting women.” – Any straight male who hasn’t objectified a woman at 1 point in their life is either a liar or a priest (in the case of being a priest, the assault would be on boys).

“Who marries and divorces women at the drop of a hat.” – Versus a woman staying married to a man that has multiple affairs in office and lied about it to millions?

“Who refuses to reveal his income tax statements unlike all other presidential candidates for the last 40 years.” – Trump isn’t your career politician so why should he play the same game?

“Who hasnt PAID taxes since the 1990’s” – Good for him. There are legal ways not to pay taxes. Many of which have been outlined by Garth.

“Who ran a charity that was shut down by the New York state authorities.” – Compared to running a still running “charity” which takes donations for political favors?

“Who’s property management company was convicted of racist anti black policies.” Key point is property management company…not Trump himself. Walk in to a swanky hotel with your pants half way down your ass and try to book a room and see what they say whether you are black, white, blue or green. This doesnt make it any better but people judge other people.

“Who recieved 12 million dollars from his father to “get started in business” – So?! I wish my parents could give be money so I’d have a good start. Obama although black, didn’t come out of the “hood” you know.

“Who has been bankrupt.” – So true, you can never go bankrupt if you never try to build something and sit there collecting private donations or speaking fees.

“Who’s older brother was ostrasized and ridiculed by him and his father until he drank himself to death at 45.” – Families have issues. Get over it. Some people drink, others send sex pics to minors.

“Who ran a “university” where thousands of students didnt recieve what was promised and the “degree” was worthless.” – What are you saying…my University of Phoenix degree is the same as a Harvard degree?

“Who has no political experience.” – Yes, like Obama and his years and years of experience…not. Or our own Trudeau. I’m sure being a math teacher gave him all the foundations to run a country.

“Who has no foreign experience.” – Again, Obama and countless warmongers who waged war in other countries. Is that the kind of experience one needs?

“Who thinks war is an easy “coupla months ” with success garanteed.” – How about the people in office that started the wars thinking killing people with a humane drone at weddings would have no long term consequences?

“Who speaks in generalities, promises nothing but generalities, and has recieved billions in free publicity from all the attention lavished upon him.” – Doesnt all politicians do this??? Poor Hillary, having to spend her donor’s money on publicity which Trump gets for free saying inappropriate things.

#152 bdwy sktrn on 10.31.16 at 1:21 pm

MIKE “build a 100MW solar station that could power something like 18k homes or something”
————————————
green swindlers would never lie about something like that, or would they???

—————————

The “grossest distortion of green data” award still goes to Grouse Mountain’s Eye of the Wind turbine. It was narrowly approved in 2008 by District of North Vancouver council on the promise that it had partnered with BC Hydro to be a “beacon of sustainability” and to produce enough electricity to power 400 homes.
But it actually produces power for about 12 homes
————————
at about 50,000/month electric bill these homes will pay for the turbine in about 50 years.

#153 Victor V on 10.31.16 at 1:33 pm

New email shows DNC boss giving Clinton camp debate question in advance

http://www.foxnews.com/politics/2016/10/31/new-email-shows-dnc-boss-giving-clinton-camp-debate-question-in-advance.html

According to documents released Monday by WikiLeaks, Brazile sent Clinton Communications Director Jennifer Palmieri an email titled, “One of the questions directed to HRC tomorrow is from a woman with a rash,” the night before the March 6 CNN primary debate in Flint, Mich.

“Her family has lead poison and she will ask what, if anything, will Hillary do as president to help the ppl of Flint,” Brazile wrote.

The following night, Lee-Anne Walters, a mom whose twin boys stopped growing and whose daughter lost her hair during the Flint water contamination crisis, posed a question to both Clinton, the eventual Democratic presidential nominee, and her primary opponent Vermont Sen. Bernie Sanders.

“After my family, the city of Flint and the children in D.C. were poisoned by lead, will you make a personal promise to me right now that, as president, in your first 100 days in office, you will make it a requirement that all public water systems must remove all lead service lines throughout the entire United States, and notification made to the — the citizens that have said service lines?” Walters asked.

Clinton responded with a lengthy answer that moderator Anderson Cooper had to twice interrupt in an attempt to keep to the agreed-upon time limit. Clinton’s remarks drew applause from the crowd…

#154 Eks dee Sipal on 10.31.16 at 1:37 pm

Interesting how the high utility rates anywhere outside of the GTA are being blamed on green energy contracts. What a twisted spin that is, if you fall for it. The same families that control ground transportation in Ontario via their knife-in-the-back of the provincial government, are also into the utility monopoly, and it’s been that way for over a hundred years. Contracts or no contracts, it’s been a hundred years of paying for something that should by now be virtually free.

Anyway, we’re on the cusp of a tech revolution in energy, so it’s the last stabs at pilfering us; thus, don’t worry, we shall soon be free of their clutches. Hang on.

#155 Eks dee Sipal on 10.31.16 at 1:45 pm

“Why does the FBI have no such compunctions about reopening the “email scandal” on the eve of the vote?”

I think you know my answer to that one. The news is all made up. Totally fake. Like the actors that play politicians to give you something to talk about. Actors also play FBI agents, and vice versa. It all starts with the state-sponsored media. Mind Control. Trey Gowdy is none other than Thomas Lennon.

#156 Context on 10.31.16 at 2:05 pm

TRICK OR TREAT: I could never understand the developer cartel rolling out the one bedroom pre-construction condo units in all parts of the City of Toronto below $300,000. There was never any full disclosure of square footage or unit plans, but I found me a back door to this scam with one tower going up.

All units have a square footage between 414 and 736 with the following prices in middle Toronto. Studio units $199,000; one bedroom units $249,000; one bedroom plus den $291,000; and two bedroom units starting at $383,990. The prices reflect the square footages that nobody can live in to enjoy a normal life unless you are a tiny person. In other words the cartel is now building junk that in my opinion has no future resale values.

#157 John on 10.31.16 at 2:10 pm

Real estate should not be a speculation game for foreigners, the responsible middle class gets negatively impacted
I’m grateful some leadership was finally shown.

#158 Johnny Boy on 10.31.16 at 2:12 pm

#123 crowdedelevatorfartz on 10.31.16 at 8:25 am

@#87 &89 Goldie

our anti Tump viewpoints…
*******************************************

I dont think people are so much pro Clinton as horrified at the thought of a man…..
Who brags about assaulting women.
Who marries and divorces women at the drop of a hat.
Who refuses to reveal his income tax statements unlike all other presidential candidates for the last 40 years.
Who hasnt PAID taxes since the 1990’s
Who ran a charity that was shut down by the New York state authorities.
Who’s property management company was convicted of racist anti black policies.
Who received 12 million dollars from his father to “get started in business”
Who has been bankrupt.
Who’s older brother was ostracized and ridiculed by him and his father until he drank himself to death at 45.
Who ran a “university” where thousands of students didn’t receive what was promised and the “degree” was worthless.
Who has no political experience.
Who has no foreign experience.
Who thinks war is an easy “coupla months ” with success guaranteed.
Who speaks in generalities, promises nothing but generalities, and has received billions in free publicity from all the attention lavished upon him.
Even when he loses this election.
He’s already won.
………………………………………………………………..
Who has been bankrupt four times I might add.
Ode to the Orange Turd!
Ladi dah.

#159 Dyslexic Smoking Man on 10.31.16 at 2:16 pm

#133 James on 10.31.16 at 11:35 am
#67 Smoking Man on 10.30.16 at 9:01 pm
Halloween 2016
Will forever be known as Hallowiener.
Fallsview sucks. No WiFi. Shit machines, ugly servers. Can’t smoke, booze is not free.
And Wynee gets my donations.
Never again
……………………………………………………………………
You are Donald Trump! You just insulted the servers at the Casino Niagara Falls. “Ugly servers”
Just so we know you are a millionaire correct?
So why do you care about wifi?
So why do you care about free booze?
Didn’t your mother tell you smoking isn’t good for you?
It effects your growth in your Cerebrum and Amaygdala.
Ugly servers, gee-sh, are you not the one with rotten teeth? Go back to your imaginary dream world buddy.
Ha millionaire, if I had millions I could care less about a bottle of Bordeaux and my data plan wouldn’t matter at all.
……

Man, you get unhinged real easy. Did you want me to lie, what if I said “the servers were gorgeous” you would call me a sexist?

No saving you lefty loons. I forbid you to buy my book. You are not allowed.

#160 Julie K. on 10.31.16 at 3:06 pm

Freak show about to get freakier.

Office of Special Counsel opening investigation on Comey re election interference.

We are 8 days away from the trick – enjoy a treat today!

#161 Context on 10.31.16 at 3:23 pm

#156 Context: I left out an important component as these prices reflect the few lower floors in any condo tower. The cartel will want more green the higher up you go as you must pay for any view from your pocket into their pocket. One must adjust these prices up and away to get the big picture. Who in government approves these construction plans in order to get a building permit???

#162 bdwy sktrn on 10.31.16 at 3:55 pm

#150 bdwy sktrn on 10.31.16 at 1:12 pm
#8 TurnerNation on 10.30.16 at 5:27 pm
Dollarama already is stocking Christmas merchandise!
Just in time for flu season.
Onward Dristan Soldier.
***************************************

From time you commented on some hot stocks like dollarma, ever paid attention to cgc?
————————-///////////////

i’m sure that was just an accident but that most certainly was not me!

i’m flattered anyway.

and re cgc.to , don’t know the financials but i can recommend the product wholeheartedly.

#163 Barb on 10.31.16 at 3:56 pm

#158 Johnny Boy on 10.31.16 at 2:12 pm

You missed one:
Missed payment after payment after borrowing humongous amounts of money from Deutschebank.

Other than that, good list.

#164 GRANDVIEW SALES REPORT on 10.31.16 at 4:11 pm

#145 bdwy sktrn, #146 bdwy sktrn

Those prices are consistent with list prices that have dropped in the 15-20% range, or more, from peak 1Q 2016.

Considering detached sales have dropped off the face of the map, I suppose a sale or two is good news.

bsant

#165 birgalkur on 10.31.16 at 4:16 pm

#64 Rexx Rock on 10.30.16 at 8:55 pm
…..In Victoria or Vancouver its the San Diego of Canada”

San Diego or San Quentin?

#166 45north on 10.31.16 at 4:40 pm

IHCTD9: A lot of Northern Ontarians need to choose between food and hydro at this point.

Ace Goodheart: No kidding it’s ridiculous. In Northern Ontario there are basically three ways of heating your house:

1. Electricity
2. Propane
3. Burn something.

A lot of people opt for #3 (there are plenty of trees if you can cut them down, split them and dry them in a year or two you can burn them).

#3 is ridiculously expensive. Upwards of $600 – $800 per month in the dead of winter to heat an average sized house. Remember it is -30℃ outside so you are bringing up the temperature around 50 degrees (to 20 degrees in your house). You have to maintain a 50 degree temperature differential from inside to outside, which is insane.

Northern Ontario:

https://en.wikipedia.org/wiki/Northern_Ontario

#167 Mark on 10.31.16 at 4:53 pm

“In other words the cartel is now building junk that in my opinion has no future resale values.”

They’re building the future ghettos to which over-leveraged RE speculators will eventually be banished as prices continue to fall in the GTA and the price of borrowing rises.

Somebody will buy the units and turn them into low-income housing. Now where I’d be concerned is if they’re building such units in buildings that are not appropriately ruggedized. If those are wooden condos, for instance, forget it, put a fork in it, those buildings are done. But if they’re concrete buildings, they’ll definitely get bought, maybe even de-condoized along the way, and added to the overall rental stock.

Besides, there’s plenty of people who wouldn’t mind a cheap “hole in the wall” in Toronto. Especially if you can pick such up for $60-$80k.

#168 traderJim on 10.31.16 at 4:55 pm

@52 Tony

DLR.to and DLR.U.to are used by smart folks to switch from loonies to real dollars or vice versa at very low cost.

Used to be we had to utilize a stock listed on both NYSE and TSE , buying in one currency and selling the same stock in another, but then some nice folks decided to take nearly all the risk out of it by introducing the above mentioned securities.

They have saved me thousands in forex fees over the past couple of years. Easy to google to see how it works, all legit and designed for this reason.

#169 Also in Cowtown on 10.31.16 at 4:59 pm

#143 Mark

Calgary prices have dropped by 25% since the 2011 peak????

Not sure where you get your housing stats. Calgary prices are only down between 5-8% since the 2011 peak…..I sold my inner city investment property in June for 5% less than the 2011 peak. Received three competing offers, sold in 26 hours.

#170 traderJim on 10.31.16 at 4:59 pm

#87 Goldie re: Hillbullies

Quite interesting isn’ it, that the ‘tolerant left’ are really the bullies?

I had to laugh at the Hillary supporter who was googling ‘violent Trump supporters’ and could only find videos of violent Hillary supporters. he actually seemed to think that the violent Trump supporter vids had been suppressed.

I am only now realizing just how severe the cognitive dissonance is. The ‘left’ have become all the things they are supposed to hate. Thank the Clintons.

#171 traderJim on 10.31.16 at 5:02 pm

#106 Blobby

The supposed rape case you refer to is a hoax, perpetrated by a well known troublemaker with a history of this kind of thing. Even the left wing Guardian points out the jerk behind it: https://www.theguardian.com/us-news/2016/jul/07/donald-trump-sexual-assault-lawsuits-norm-lubow

You should thank the sites that stopped you from making a fool of yourself for posting nonsense.

#172 Context on 10.31.16 at 5:02 pm

The way to eliminate power outages with a wood burning stove and save on hydro too is to hook up on the stove pipe a thermoelectric generator. This can be connected to a battery system charging 12V or 24V for power storage. It will cost you $849.00 USD sold in Aurora at Tecteg including the controller for the smart charger. Its the Rabbit Ears addition and maybe sold elsewhere in Canada.

#173 traderJim on 10.31.16 at 5:16 pm

#151 Nitro

Thanks for taking the time to point out the obvious. I usually just read the nonsense written by people like fartz and roll my eyes.

Funny how fartz says Trump has not released his tax returns and also that he has not paid tax. Hmmm. How would anyone know?

The truth is obvious: Trump used a tax write off that all businesses use when they have a bad year.

Trump has undoubtedly paid hundreds of millions in taxes, just the vast amount of sales taxes on his lavish spending are proof.

Compare that to Hillary, whose wealth comes from selling influence (and who knows what else, perhaps secrets?) to nations that fund terrorists, as she herself has stated.

As for business acumen, only people who have never started a business, never employed anyone, never risked everything (or anything for that matter), think that there is something wrong with going bankrupt.

And Trump has never gone bankrupt, to my knowledge, although I have never really looked into it. I understand several of his myriad businesses over the years have gone under. You win some, you lose some.

Pretty funny to see people claiming a billionaire is somehow a lousy businessman. My bet is he’s more successful than his critics. lmfao

#174 Mark on 10.31.16 at 5:29 pm

DLR.to and DLR.U.to are used by smart folks to switch from loonies to real dollars or vice versa at very low cost.

No smart folks switch to a broker that doesn’t force them to play day-trader to change their currencies at a competitive cost. I find it rather incredible that someone actually thinks its ‘smart’ to be forced into a situation where, just to get a decent deal on forex, they have to take significant amounts of market risk and play against the market makers who are taking a spread on every transaction.

Seriously, give your head a shake if your broker abuses you to the point where you have to play such games.

#175 jess on 10.31.16 at 6:06 pm

Just 2 years ago …”Stop gouging tenants, Nenshi urges landlords

Sep 12, 2016 – Calgary’s vacancy rate is expected to reach seven per cent by next month, according to CMHC
Aug 29, 2016 – Vacancy rates are up about eight to 10 per cent in Calgary, according to Mark Hawkins from Rentfaster.ca

I wonder …How many rent-to-own proposals will walk away?

2015 forecast of 24,503 actual solds 18,830 -5,673

Those outrageous rents < 2 years ago have come unstuck.

#176 Where's The Money Guido? on 10.31.16 at 6:37 pm

Re:
#145 bdwy sktrn on 10.31.16 at 12:50 pm
GRANDVIEW SALES REPORT – THIS WEEK

1955 KITCHENER STREET $1,349,000 SELL $1,400,000
DOM 1 – ONE day on market (just like old times!)
sold 50k over ask, small lot, small old house, nice hood

why aren’t you ‘van is crashing’ folks out in force warning these foolish buyers?

Don’t you know most properties are bought by the pot growers laundering their money. The Lieberals will go anywhere but the main source of illegal funds propping up Vancouver RE.
Remember when Greedo Scambull first got into office in the early 2000’s and the RCMP said that organized crime had infiltrated the ledge. Well that was impetus for the investigation that brought about the BC Rail fraud!!!!!
Where did the rest of the investigation go….into a $1 billion state of the art RCMP building in south Surrey and a new 20 year huge contract for the RCMP in BC.
Obvious corruption of our police force, imo.

#177 crowdedelevatorfartz on 10.31.16 at 7:21 pm

@# 151 n1tro
My goodness! All that typing seems to have affected your brain and your deductive …..capabilities?
“*****************************************
Point by point

1. “Any straight male who hasn’t objectified a woman….”
Trump doesnt “objectify” them he “grabs them by their P#$$y”

2 “a woman staying married to a man that has multiple affairs”
Maybe she actually loves him? Unlike all Trumps very rich ex wives?

3. “Trump isn’t your career politician …”
Thats very apparent every time he speaks. But tradition asks that all Presidential candidates reveal their taxes….whats HE hiding?

4.”Good for him. There are legal ways not to pay taxes.”
He’s written off over 1 billion dollars and because of that he has paid tax in almost 20 years…Talk about a govt tax welfare whore…….

5.”Compared to running a still running “charity”
The Clinton Charity donates 87% of all money taken in. Trumps charity donated less than 5% of its donation before it was shut down by authorities. Scam?

6.”Key point is property management company…not Trump himself”
Trump’s company was convicted of a years long, sustained WRITTEN POLICY that denied blacks access to their apartment buildings and a nurse finally challenged and won in Court a discrimination case against the Trumps.

and on and on and on.

Hillary was wrong to call Trump supporters “deplorables”.

Your “deniers” of the truth and “excusers” of reality…which …I suppose ……makes you deplorable

#178 dzh123 on 10.31.16 at 10:07 pm

I can’t wait until the Canadian homeowner class gets hurt. You can’t collect 10%+ annual returns in Toronto, import people to drive demand, and expect the bulk of people to save at 2-6% rates as market investors and expect everyone to just hope things even out on the back end of 30 years. Nobody has a right to buy a house, but if it’s going to create crushing wealth inequality, don’t be shocked if you reach a critical mass of voters who want to exercise their voting rights to end your housing asset-value inflation.

If you’re so worried about the Canadian economy, maybe you should be doing something other than oil and building /renovating overpriced homes for each other. When Clinton appeases her base and renegotiates NAFTA, we’ll see how easy that is for you to finagle.

Canada’s pride and contumely will end. Maybe not today, maybe not tomorrow. But soon and for the rest of your life.

#179 CT on 11.01.16 at 2:48 pm

New lows today for Genworth Financial:

http://stockcharts.com/h-sc/ui?s=MIC.TO&p=D&b=5&g=0&id=p38132319919

#180 CT on 11.01.16 at 2:54 pm

Short term shorting opportunity, gold miners? See chart #95:

http://stockcharts.com/public/1107832/tenpp/9