Scary

A strange thing seems to have happened between Re/Max and the media.

Early yesterday Canadian Press filed a story based on the latest press release this over-hyped company churns on a regular basis. But unlike the usual buy-now-cuz-prices-are-exploding fare, this release was all about a market correction. Yes, some unexpected realism from an industry giant.

TORONTO – Even luxury real estate buyers are holding off in Toronto and Vancouver, watching and waiting after recent government measures aimed at cooling off the hot housing markets, according to new figures.

New numbers from Re/Max show that between January and July of this year, sales of luxury properties with a price tag of $3 million or more slipped 40% in Vancouver and 14% in the GTA, compared to a year ago. The number of $3-million-plus properties that changed hands in Vancouver in the first seven months of the year fell to 499 from 838 in 2016, Re?max says. In the Greater Toronto Area, the number of properties sold between January and July fell to 738 from 860 a year earlier.

Christopher Alexander, Re/Max’s regional director for Ontario-Atlantic Canada region, says would-be buyers moved to the sidelines after the introduction of government measures aimed at cooling the market, including a foreign buyer tax.

Too bad it didn’t last. Blog dog Prash noticed that, weirdly, the negative story appeared for only a few hours before being spiked. “Earlier Wednesday there were some online pieces in the Toronto Sun, Global News, HuffPo, etc saying luxury real estate sales have dropped,” he says. “These articles appear to have now been taken down, although I was able to scrape some cached content from Google. The numbers themselves aren’t surprising (Jan-Jul luxury sales down 40% in Van and 14% in GTA). There however does appear to be a concerted effort to minimize negative news on the internet.”

While it’s possible to ferret out a copy from some obscure sites, the piece is gone from Global, CTV, CBC and the fading Suns. A reader in Vancouver even heard a radio announcer comment that Re/Max had contacted the station to have the piece pulled.

Maybe it’s nothing. Maybe it’s something. It’s understandable Re/Max might have second thoughts about spooking the market. But it’s unconscionable that media would censor. Even this blog doesn’t stoop that low.

$     $     $

Speaking of media and messaging, the embattled finance minister will be live on Facebook Friday morning in an orchestrated Town Hall meeting in upscale Oakville defending and selling his proposals to pulverize small business owners. It’s being staged at the highly convenient time of 5:30 am PT, or 8:30 am ET, with the media being told to be in place shortly after the cocks mount the yardarm. If you’re available, here’s the address: www.facebook.com/CanadaBusiness/.

And here’s your smiley minister’s promo for the event. (Dig the hastag, #TaxFairness. Right up there with #puppies.)

Reader Matt wrote his Toronto-area MP in protest to the changes and to add his voice to the sham consultation period which ends Monday. John McKay (who I know well and thought was a reasonable guy) replied, categorically, saying this:

  • If you are paying a dividend to your spouse or adult children who have not provided reasonable services to your business, you could be affected;
  • If you are holding profits inside your corporation for retirement, you could be affected.

So, as suggested here, it’s a done deal. People who played by all of the rules will be whacked. Husbands and wives who together invested time and capital to build a business will no longer be able to share income, even if they’re both shareholders, solely because they’re married. Professionals without pensions who scrimped for years so they could amass a retirement nest egg inside their corps will, in fact, soon see them taxed away. And two million people who did absolutely nothing wrong will have been labeled tax cheats and manipulators by their own government. All for political advantage. Shame, Mr. Speaker. Shame.

$     $     $

Back to real estate (it’s safer), it’s rumoured we’re now just a month away from the new universal stress test taking effect. Property bulls are shirking it off. But the mortgage dudes are trembling. The overall effect, says the lending industry, will be a drop in available credit of approximately 18%.

The major impact will be in markets where prices are highest and wages have barely budged over the last few years – obviously YVR and the GTA, including all of the Lower Mainland and southern Ontario. Less damaged will be Halifax, Montreal and other places where the pricing lunacy did not hit, and houses don’t cost 10 or 12 times the average household income.

At about the same time will come the third Bank of Canada increase so far in 2017, tripling the benchmark rate and raising the bank prime to two whiskers below 3.5%. Cheapo five-year fixed mortgages that were 2.2% in the spring are a full 1% higher now, and will be 1% higher again by this time in 2018. Add in 200 basis points for the stress test, and borrowers with 20% or more to put down will have to prove they can carry a loan today at over 5%. That’s an effective 300 basis-point change from April.

Maybe Re/Max was right. This is just too damn scary.

247 comments ↓

#1 Dean Rightman on 09.28.17 at 6:23 pm

First!

#2 Free By 40 on 09.28.17 at 6:26 pm

Shock shock horror the realtors are trying to window dress the news again. It’s amazing anybody trusts these people when all they do is lie out of their teeth.

If there’s one job I could never do it’s to lie to people to convince them to buy things they either don’t need or will regret buying shortly. Some people really have no morals.

#3 Debtslavecreator on 09.28.17 at 6:30 pm

Shady RE behaviour
Of course they want to bury the bad news and trap what last fool they can find

Update on mortgage credit – it turns out the BNS lender that turned down my colleague because his GDS didn’t fit at 4.84 was not accurate
BNS is not using 4.84 for ratios on conventional deals
But we all expect B20 to be implemented more or less as promised and all of us are waiting to see the details
IF they force stress tests on renewals it would be suicidal
Let’s hope common sense prevails

#4 YVR Update on 09.28.17 at 6:30 pm

British Columbia Attorney General David Eby has named Peter German, a big name former RCMP Deputy Commissioner and expert on Money Laundering, to conduct review of BC gaming, NEXT…. you guessed it right…… will be review of Money Laundering in Real Estate in beautiful BC. Read Below:

https://archive.news.gov.bc.ca/releases/news_releases_2017-2021/2017AG0025-001642.htm

Secondly, Once again from UBS… Toronto and Vancouver at greatest risk of Housing Bubble Burst. Good Links Below.

http://vancouversun.com/business/real-estate/toronto-and-vancouver-among-global-cities-at-greatest-risk-of-housing-bubble-ubs

https://www.bloomberg.com/news/articles/2017-09-28/toronto-london-among-riskiest-housing-bubble-cities-ubs-says

#5 ReMax Press Release Censorship on 09.28.17 at 6:30 pm

Both ReMax Sept. 27 and 28, 2017 press releases for comparison:

ORIGINAL posted yesterday Sept. 27
Sale of luxury detached homes drops in Vancouver: RE/MAX

Editor’s Note: RE/MAX has advised us it has provided the wrong statistics, which are outlined in the story below. The agency says it will provide refreshed data later today and this story will be updated.

VANCOUVER (NEWS 1130) – New figures show that even luxury buyers are holding off in the country’s two biggest real estate markets — Vancouver and Toronto, as they wait and watch after each respective government implemented measures at cooling off the hot housing markets.

Last fall, the BC government brought in a 15 per cent foreign buyers tax. A levy that would amount to about $300,000 in tax on the sale of a $2 million home.

RE/MAX figures now show that between January and July of this year sales of luxury properties with a price tag of $3 million or more slipped 40 per cent in Vancouver and just 14 per cent in the GTA, compared to a year ago.

The agency’s Director Christopher Alexander says would-be buyers are waiting to see what happens to the market after government measures, like the foreign buyers’ tax, were introduced in both cities.

Sales of Vancouver properties worth $1 million to $2 million compared to last year dropped 10 per cent, according to new figures from RE/MAX. Sales of slightly more expensive properties from January to July worth $2 million to $3 million also slipped in both cities, down 27 per cent in Vancouver and 16 per cent in the Greater Toronto Area.

Meantime, sales of condos priced at more than $1 million went up by 11 per cent in Vancouver over the first seven months of this year. While luxury condos, those over $1 million, went the other way and the company says that has to do with an abundance of downsizing baby boomers, foreign buyers and younger couples with money to spend.

RE/MAX says construction of those luxury condos continues to climb but that supply has far outpaced demand. Thusly, it expects developers in the City of Vancouver to put more of a focus on condo projects in the near future.

REVISED (with current link: http://www.news1130.com/2017/09/27/sales-luxury-detached-homes-drops-vancouver-remax/)
Sept. 28

Sale of luxury detached homes drops in Vancouver: RE/MAX
Editor’s Note: This article has been updated to reflect correct information, after RE/MAX had advised us it had originally provided the wrong statistics.
VANCOUVER (NEWS 1130) – New figures show that even luxury buyers are holding off in one of the country’s biggest real estate markets — Vancouver. New research has found buyers are waiting and watching after the province implemented measures at cooling off the hot housing market.

Last fall, the BC government brought in a 15 per cent foreign buyers tax. A levy that would amount to about $300,000 in tax on the sale of a $2 million home.

RE/MAX figures now show that year-over-year sales of single-family detached properties with a price tag of $1 million or more slipped 32 per cent in Vancouver.

The agency’s Director Elton Ash says would-be buyers are waiting to see what happens to the market after government measures, like the foreign buyers’ tax, were introduced.

“The foreign buyer tax introduced last year—combined with a good selection of luxury single-family detached homes—reduced buyers’ sense of urgency in this segment of Vancouver’s market,” said Ash, who is Regional Executive Vice President with RE/MAX of Western Canada.

However, demand from “downsizing baby boomers”, foreign buyers and well-to-do younger couples has lead to an 11 per cent increase in luxury condo sales.

Meanwhile, luxury condo sales continued to grow in the Greater Toronto Area, increasing by 85 per cent between January and July this year.

Sure smells like censorship.

#6 Dave on 09.28.17 at 6:30 pm

“But it’s unconscionable that media would censor. Even this blog doesn’t stoop that low.”

Yes you do, you delete comments that draw attention to the fact that you have been advising against buying in Vancouver ever since you started this blog and that people would have been way ahead had they bought 7 years ago

Yes, the racist ones. — Garth

#7 nick on 09.28.17 at 6:30 pm

HAH!

Wow i remember reading that article about luxury homes. I was kind of surprised to read it.

Although they are scum, im really surprised they actually took it down… the balls…

#8 Waiverless on 09.28.17 at 6:34 pm

Stress test just over a month away and they have yet to announce it. The feds do like to keep us on the edge of our seats…

#9 The Technical Analyst, CSTA, CPD on 09.28.17 at 6:38 pm

Re: Bill Morneau

He is just doing his job the best he sees fit. You can’t please everyone.

As any should know, we live in a Capitalistic society, not a Communist one. If you are finding yourself on the “wrong side” of the line, move yourself, not the line.

It is not the Government’s responsibility to improve your lifestyle, it is yours.

Today’s News: Dissenting doctors write open letter in support of federal tax reforms

https://www.thestar.com/news/canada/2017/09/17/dissenting-doctors-write-open-letter-in-support-of-federal-tax-reforms.html

“octors across Canada who support Finance Minister Bill Morneau’s proposed tax reforms say they want their voices to be heard above the din of criticism from colleagues and medical societies.

To make their point, they have been putting signatures on a letter they plan to send to Morneau this week.

“We were really fed up with the narrative that our colleagues were putting forth and that our medical associations were putting forth as the only opinion out there,” said Dr. Sarah Giles. “We’ll probably have friends never talk to us again. People are ridiculously emotional about this.”

“We need adequate tax revenues to fund social programs such as affordable housing, pharmacare, social assistance, legal aid, and the health-care system itself,” the letter states. “These programs directly impact the health of our patients, and we believe it is important for us to contribute to their sustainability through an adequate tax base.”

#10 nr 1 in the world. on 09.28.17 at 6:38 pm

No mention of Toronto bubble being the number one in the world, according to a Swiss bank?

https://globalnews.ca/news/3773995/toronto-housing-bubble/

#11 TortyPapa on 09.28.17 at 6:39 pm

Nope. Nothing for us renters to be scared about. Bring on the corrections. We welcome it.

#12 M-cube on 09.28.17 at 6:40 pm

Question for Garth. How many signatures does a petition require for it to get a guaranteed read in the house of commons of Canada?

As for the rapid deletion of re/max thing. not surprised. just more evidence how organized and determined the house players are in keeping things going. this bubble might still have a few more years in it. never underestimate the strength of organized efforts.

#13 Smoking Man on 09.28.17 at 6:41 pm

So it’s at UNIFOR Local 707. Bet Jerry Dias will be there. His dad was a big union boss too back in the day. They live high on the hog, do squat for their members.

This is all about my former Union Brothers showing up in mass, they will be pumping smiley faces to show support.

Losers, they never grew a set, took a chance, made a bet. Little guppies sucking on teet. No major wage gains in years.

They are scathing with jealousy at others success, and Billy Boy trying to capitalize on that sentiment to take votes away from the NDP, while T2 has opened the floodgates for his Big Bank buddies.

Swine and Criminals.

When CRA pays me a visit, I’ll be live perescoping, expect extream profanity.

#14 aa3 on 09.28.17 at 6:43 pm

Once they can no longer deny a correction in prices, they will turn on a dime to say now is a great time to buy, take advantage of the bargain prices. These prices sure won’t last long, and they will have some new statistics, showing the market moving up again. And the big pressure on buyers to get in while its temporarily low.

And 99.9% of people will believe them, including university educated people. Because people want to believe that house prices will go up.

#15 Karma on 09.28.17 at 6:53 pm

Here you go:

https://webcache.googleusercontent.com/search?q=cache:http://thechronicleherald.ca/business/1506757-3m-plus-sales-in-vancouver-toronto-down-after-government-measures-remax

#16 TurnerNation on 09.28.17 at 6:56 pm

Here I sit broken hearted tried to short but only started.
VIX being pushed downward always.

Don’t get newz from a name with Huff or Hedge; or from any planetary body: star sun or globe.

#17 TheoryAndPractice on 09.28.17 at 6:56 pm

Here it is cached version in Toronto Star :
https://webcache.googleusercontent.com/search?q=cache:cueFgKl5GF8J:https://www.thestar.com/business/2017/10/31/3m-plus-sales-in-vancouver-toronto-down-after-government-measures-remax.html+&cd=2&hl=en&ct=clnk&gl=ca

#18 Costco Nation on 09.28.17 at 6:59 pm

One of the stalwarts of communism is nationalisation by decree. If you challenged look it up.

Second, a system in which someone can enact change without personal liability is a dictatorship.

So much for your “democracy”, sheep.

Woof.

#19 Russ on 09.28.17 at 7:03 pm

I am sick and tired of spousal units being taxed separately when the Federal Government has clearly established, in a divorce, she has equal entitlement to earnings after the fact.

Why does this not occur to anybody to include splitting the income and tax obligations while they are a viable unit and working age?

The #TaxUnfairness is by not treating family income and family businesses the same. We all need the ability to split and sprinkle income and not remove it from a significant portion of taxpayers simply to reduce them to the level of a single income employed family.

And then we leave family trusts untouched in this scheme?
Those trusts should have all incomes taxed each year before distribution to the likes of Bill and T2. That’s fair!

#20 Ian on 09.28.17 at 7:03 pm

Was just reviewing the new US tax plan.

They are helping US business, while Morneau is out to kill ours.

The relative difference will be really, really bad news for Canada.

#21 Toronto best city in the world for a woman on 09.28.17 at 7:03 pm

I don’t believe you. Toronto is a growing city. It’s ranked the #1 city in the world for women and young people.
Look at all of those high rises in the skies of downtown Toronto. That’s progress.
As long as we provide our Canadian women with careers, real estate will never collapse in Toronto. We do not have a misogynist President like our Southern neighbours. We respect women. Toronto is the greatest city in the world, better than heaven!

#22 Linda on 09.28.17 at 7:06 pm

Interesting that the ReMax news is being smothered/yanked. Saw a headline this afternoon proclaiming ‘Bully Offers Are Back!’ like this was a good thing. Why do I keep thinking ‘they are the King of Denial’ when I read housing market news releases these days?

Regarding the tax thing, why is holding profits within your corporation for retirement a bad thing? Are not those profits taxed upon withdrawal? Are not RRSP contributions analogous to the holding of profits with a corporation, or is the tax benefit to doing this so much greater that it is now perceived to be unfair? Though it seems more like the government is searching for new sources of income ‘now’ & doesn’t want to wait until those profits are withdrawn. In which case can we expect that the next tax attack will be on when one has to access RRSP funds? Mind, with so many not making any RRSP contributions perhaps there isn’t much point to trying to access those tax dollars sooner, because there simply isn’t enough in the pot to make it worth going after.

#23 Rates vs Capital on 09.28.17 at 7:11 pm

Oh goody, a few more months until we see whether it is cheap credit that is driving markets in Metro Vancouver or foreign capital!

If this stress test measure is ‘supposed to wipe out 20% of buyers’ with a contraction in credit, and we see rates rise, then the perfect storm will have occurred and prices WILL have to drop based on all the posts here and ‘economic fundamentals.’

And if they do not, then you know that its not cheap credit and domestic demand that is keeping the markets afloat – its foreign capital.

Only a few more months until the bears here are severely disappointed as prices remain the same despite all the measures to reduce domestic demand…

Soon the emperor will have no clothes…and some will have to eat crow for espousing the same ‘drivers’ of the market for years.

#24 MSM-Free Zone on 09.28.17 at 7:13 pm

“….the piece is gone from Global, CTV, CBC and the fading Suns……”
______________________________________

“fading Suns”. How apropos.

As a kid in the late 60’s/early 70’s (long before MSM sold out its first M) I used to deliver the Winnipeg Tribune door-to-door, one of the best investigative newspapers on the prairies, until it was taken over by the infamous Sun News chain, who promptly turned it into a Sunshine Girl tabloid scripted by a bunch of bigoted, narrow-minded, right-wing nut-bars whose target audience clearly became the same freedom-luvin, god-fearin, pickup-drivin, gun-totin, guvernment-hatin illiterates who are too stupid to realize they’re being played like banjos on a daily basis by the very same freedom-promising politicians who out-source and off-shore their jobs with frightening regularity.

No wonder the Sun circulation is circling the toilet, along with the National Post’s as well.

#25 crowdedelevatorfartz on 09.28.17 at 7:14 pm

@#20 Toronto the gender equality capital of the Universe

Dah-ling, where have you been? Summering in the Hamptons again? The empowered women of Canada missed you.
Where did you get that Ayn Rand tattoo? Its simply divine.

#26 crowdedelevatorfartz on 09.28.17 at 7:16 pm

happy happy happy HOUSING CRUSH EVERYONE!

Geez. Its getting addictive.

#27 Sue on 09.28.17 at 7:19 pm

Morneau can’t be this clueless… can he?

#28 KommyKim on 09.28.17 at 7:22 pm

RE: “Dig the hastag, #TaxFairness.”

I guess it’s slightly less gag inducing than the slogan “Fair Elections Act”, but not by much.

#29 Ian on 09.28.17 at 7:26 pm

#20 Toronto

Yes, it’s great, been here most of my life.

The federal government steals $40bln a year from it but people keep voting Liberal, we have a road infrastructure that was appropriate for 1970, a transit system that is BY FAR the worst of any city I’ve been to, a waterfront development scheme that looks like a drunken zebra developed it (especially compared with Chicago), young educated people leaving in droves because the whole city is completely unaffordable, condo builds everywhere that interfere with lanes of traffic, single car lane roads with a convenient bike lane on their right which makes it impossible for cars to pull over, and a downtown political atmosphere that is so ultraleft it would make Venezuela blush.

Other than that it’s just awesome.

#30 Happy Housing Crash Everyone! on 09.28.17 at 7:27 pm

Many of you SHYSTERS are scum. You lie for money. You trick people for money. You convince people to financially murder themselves. You dirty liars.

#31 Allen on 09.28.17 at 7:28 pm

Well for those who can’t stand realtors already, here’s something else to get you going…
https://www.vice.com/en_ca/article/qvj3w3/i-was-paid-dollar400-to-wait-in-line-at-a-condo-sale

This was the same development noted in this article…
http://www.greaterfool.ca/2017/09/24/jar-people/

When are the real estate boards going to grow a pair and offer the transparency needed and expose the realtors as the speculators that they are???

#32 IVoteIndependent on 09.28.17 at 7:30 pm

“And here’s your smiley minister’s promo for the event. (Dig the hastag, #TaxFairness. Right up there with #puppies.)”

Tax fairness is like puppies? Well, I hate to break the news about puppies…

http://abcnews.go.com/GMA/video/online-puppy-ads-scams-report-50123203

#33 Victor V on 09.28.17 at 7:31 pm

Kelly McParland: Canadians might have accepted tax reforms if Liberals hadn’t ignited a class war

http://nationalpost.com/opinion/kelly-mcparland-canadians-might-have-accepted-tax-reforms-if-liberals-hadnt-ignited-a-class-war

The approach fit snugly with the Trudeau team’s belief that you never lose by stoking class resentment. Disparaging “the rich” has been an integral strategy of Trudeau’s handlers since his ascension to the leadership. It must have seemed a slam-dunk in this case. Salaried workers don’t incorporate. Civil servants don’t incorporate. Union members don’t incorporate. Only rich people incorporate, because they have the means to put aside some assets (and what else does “rich” mean if not the ability to live beyond the next paycheque?). Progressives certainly don’t incorporate.

Except, as it turns out, they do. And plenty of them aren’t “rich,” as Canadians understand the term. Trudeau is rich; Morneau is rich. The family doctor may drive a decent car, but that doesn’t make her a tax-dodging plutocrat.

#34 Ian on 09.28.17 at 7:34 pm

#15 Turner

That’s coming and I’m waiting for it too, but don’t do that yet.

QQQ still ‘strong bullish’ by my good friends at iVolatility.

I feel it’s not long until it cracks though.

#35 jim on 09.28.17 at 7:36 pm

#8

“We need adequate tax revenues to fund social programs such as affordable housing, pharmacare, social assistance, legal aid, and the health-care system itself,”

Brilliant. So tax doctors, who by and large derive salaries from the government, in order to genera more revenues for government spending. I’ve never found doctors to be particularly smart (compared to physicists, mathematicians, quants, etc), but can she really not see the feedback loop implied by this?

If you want better health care care, address the inefficiencies in the health care system.

And what is the most rapidly growing component of health care expenditures??

Physician compensation. Growing at 8%-9% a year, depending on the province in question.

So instead of doing something to address exponential growth in physician compensation, you think taxing doctors is the way to go. When they are basically paid by the state to begin with.

Good luck with that. Glad I don’t have to pay Canadian taxes anymore. I’m sure all the small business owners will be elated to pay for these bloated and inefficient services.

(Canada ranks where in the list of public sector health programs? Hint, not very high).

#36 Sean on 09.28.17 at 7:39 pm

It’s still here on global: https://globalnews.ca/news/3771677/luxury-real-estate-vancouver-toronto/

No it’s not. Check the link. — Garth

#37 Sue on 09.28.17 at 7:43 pm

Rick mercer rant on tax changes, so true yet hilarious,

https://m.youtube.com/watch?v=6s7qeHKe8H8

#38 John on 09.28.17 at 7:47 pm

Time for some full disclosure Garth. What is your net worth? What is your anual income? How much do you pay in personal tax? How much income do you personally stand to loose due to the proposed changes?

None affect me. They hobble my country. So I care. — Garth

#39 Doug t on 09.28.17 at 7:47 pm

Stick a fork in this country – it’s done

RATM

#40 Big Brit on 09.28.17 at 7:48 pm

We all know the media is bought and paid for right?

Sadly no one reports the news anymore it’s all about politics or real estate angles.

CBC is one of the worst in my opinion.

#41 Toronto on 09.28.17 at 7:48 pm

DELETED

#42 Stone on 09.28.17 at 7:49 pm

#3 Debtslavecreator on 09.28.17 at 6:30 pm
Shady RE behaviour
Of course they want to bury the bad news and trap what last fool they can find

Update on mortgage credit – it turns out the BNS lender that turned down my colleague because his GDS didn’t fit at 4.84 was not accurate
BNS is not using 4.84 for ratios on conventional deals
But we all expect B20 to be implemented more or less as promised and all of us are waiting to see the details
IF they force stress tests on renewals it would be suicidal
Let’s hope common sense prevails

—-

I actually hope that they force the stress test on renewals. This should stop people from overextending and living beyond their means. Reinforcing that every few years when the mortgage term comes up for renewal will keep that top of mind for those with a mortgage. Can you imagine people living within their means? They might actually even set some money aside to invest and god forgive, become wealthy. Wouldn’t that be a shame? Sometimes, When you can’t help yourself, sometimes its good someone helps you out. I think B-20 as currently presented may be exactly what the doctor ordered.

#43 Big Brit on 09.28.17 at 7:49 pm

Also notice how there are very few news stories about housing in general now. When it was going up up up it was all we heard about.

#44 Asterix1 on 09.28.17 at 7:50 pm

Prices (average) in Toronto are up 7.7% since their recent lows. What are we looking at?

– Complete fools who have no clue that a huge storm is arriving? (Rates, B20, debt crunch, credit crunch)
– Complete fools that believe every word printed in newspapers.
– Complete fools that trust the advice of their realtor.

Or are we heading straight up, back to all time records highs, and more? Forgetting along the way that we are the biggest RE bubble in the entire World!

#45 Victoria on 09.28.17 at 7:52 pm

YVR Update: There was no mention of investigating money laundering regarding real estate in the announcement today, only with regard to casinos. Do you have other information that we don’t know about as that would be a good thing?

#46 Good Riddance Misogynist Rapist Hugh Hefner on 09.28.17 at 7:53 pm

The behavior of real estate boards in obscuring the truth is horrible, and should bring them under intense scrutiny and more regulation. The media who are bowing to them are disgusting.

Oops – forgot this link:

http://www.independent.co.uk/voices/hugh-hefner-dead-death-playboy-mansion-bunny-women-misogynist-predatory-enemy-a7972046.html

#47 Gentle ,Loving Kindness on 09.28.17 at 7:53 pm

Politicians are usually concerned about the potential “Optics” of a decision. Apparently, the liberals are not encumbered by these such shallow issues. In any other country, when a high-ranking politician makes decisions that will benefit their personal finances, it could be called corruption. I guess in this Animal Farm Brave New World, it is called acceptable.

http://nationalpost.com/opinion/john-ivison-accusations-morneau-breached-conflict-of-interest-screen-increase-tension-over-tax-reforms

#48 I am Toronto on 09.28.17 at 7:54 pm

I smell so bad and house the ugliest of women. I am Toronto.

I am filled with pollution and strange people who think they are so cool. I am Toronto!

A looser wanna be New York. . .filled to the rafters with more real estate agents then bed bugs. I am Toronto!

I attract the type of women, who no one wants to date. I am Toronto.

Please stop by sometime.

#49 Tedfiftyfour on 09.28.17 at 7:54 pm

Not sure about the big RE conspiracy to influence removal of bad news RE stats. I had no problem locating many many articles, google, CBC, Globe etc. Discussing the market correction. Some days this unrelenting BS blog is full off it.

#50 1984 on 09.28.17 at 7:57 pm

Taken down, revised with a new spin about luxury condo sales being up…1984 has arrived.

#51 Damifino on 09.28.17 at 7:59 pm

#5 Dave

you have been advising against buying in Vancouver ever since you started this blog
——————————-

Not quite. Garth has always advised against buying what one can’t afford. Still does, I dare say…

#52 Todd on 09.28.17 at 8:01 pm

On Breakfast Television (Toronto) this morning during the business report the banner headline read “No more rate increases coming” Not sure where that nugget came from.

#53 Chaddywack on 09.28.17 at 8:01 pm

My brother just listed his house in the Vancouver area artificially low to try and start a bidding war. Apparently their open house had only 9 people show up over the weekend and they got exactly 1 offer for the (artificially low) price they asked for.

No bidding war. I really think he should have just listed it for what he actually wanted. Now he has raised the price higher to what he will actually accept.

I always wonder…..Is there a risk to try and start a bidding war in a slow market for a seller? Especially in a scenario where they only get 1 offer. All I can think of is that future sellers will be put off by seeing a listing history with price increases….or a future buyer would offer lower than they would otherwise? Any thoughts people?

Could this backfire on him or is it relatively benign, but just untimely on his part?

#54 Nonplused on 09.28.17 at 8:04 pm

Well, I suppose in the end it’s our own fault because we voted these morons in. Well, not me, I would have never voted for a snowboard instructor and drama teacher as prime minister but I suppose all the snowboarders and drama students did.

How did we manage to elect someone to the highest office of the land where difficult national and international policies need to be decided who has nothing better on his resume than snowboard instructing and teaching drama? I don’t mean to disrespect snowboard instructors, it’s an honest job, but I don’t think it qualifies one to be PM. We should have at least elected a ski instructor, at least they can count how many legs they have.

So on the dividend thing, it’s totally ok if you and your wife both own shares in say Telus or Enbridge and both get separate dividends, but if you both have shares in a small company dividends are tax evasion? So what do you do with larger partnerships? I used to be a shareholder in a real estate company that had about 30 shareholders, and my dad also had shares. Should we have been taxed jointly? Several of the shareholder groups were families where a husband and wife and maybe a child might have some number of shares each. Should they have all been taxed jointly? Very few of us actually “worked” for the company (although I did go to board meetings because I had a fairly significant holding, since sold). Or maybe they should tax all the shareholders jointly, why does it matter if my dad and I are both shareholders but so is a bunch of people we aren’t related to? And where is the tax fairness on real estate companies who pay out much of their earnings as a “return of capital” thus incurring little in the way of taxes? Is Moroneau going after this sweet scheme too? Oh no he isn’t, that would affect his trust fund. Moroneau isn’t so dumb after all, he is only going after business structures that do not affect him personally.

When you see Turdeau and Moroneau suffer the same tax increases they are aiming at doctors and plumbers then you can say it’s about tax fairness. It isn’t, it was fair before. This is just a tax grab targeting the most productive members of society so we can beef up those government pension plans.

However I have formulated, at least partially, my response to Turdeau and Moroneau’s plan. I will retire December 31st. I don’t see any point to continue working. There is no money in it after all the taxes. Maybe I’ll become a ski instructor.

#55 ANON on 09.28.17 at 8:05 pm

When Delusia (YVR) or New Delusia (GTA) go down, it won’t matter if prices in Halifax or Montréal are in the Enthusiasm-Greed portion of the bubble chart, having not reached Delusion heights yet. A(n) (inevitable) fall in any of the Delusias will logically leads to things which should be uttered, even in the absence of blog censorship… We’re talking 2 trillions private credit, which enabled consumption from businesses which took 2 trillions in private credit to produce, support, and generally do whatever stuff the narratives demanded, which… well, I’ll stop right here at the facts, the rest is speculation.

#56 the ryguy on 09.28.17 at 8:11 pm

#18 Russ on 09.28.17 at 7:03 pm

_________________________

I had the exact same thought, I can’t wait to see this argument the next time a man gets dragged through the mud in a divorce.

“well your honour, the CRA unequivocally states that she has no right to the proceeds of this company, I don’t see why the court should rule any differently”.

Hahahaha god, I can already hear it…”you sexist mother f*in piece of sh*t”…Yikes, glad I’m single.

Of course it won’t hold up, that would require the losers in power to be able to connect a dot or two. Still, would be fun to watch the verbal gymnastics of the judge & lawyer trying to justify her hard earned 50%.

#57 Mayor of Milton on 09.28.17 at 8:13 pm

Hello Folks! Wow, that Toronto guy seems not to be enjoying his time in that horribly congested, polluted city. Why, have you ever considered the lovely beige suburb of Milton? Why we have lots of women here, most of them chubby and balding, but they always look very fashionable in those oversized heavy cotton T-shirts and stretchy Walmart leggings. Forget spending top dollar on your gal, in Milton Mark’s Work Wear House is all the Gucci your new gal needs! Why don’t worry about any high maintenance women here, as long as you feed them hot dogs, they are happy. And, if your half decent looking, you may stand a chance with one of our lovely ladies as most of the men here sport the “dad bod”. You know those pear shaped men, well that’s “in” here! Please come buy and see if our lovely community is a good fit for you. We currently have 242 stagnant overpriced beige townhouses available with 25 oz carpets and faux marble looking laminent countertops. Why have Toronto, when you could have a truly mediocre life in this wonderful place we call home. See you at Walmart!

#58 Howard on 09.28.17 at 8:17 pm

Hey! Prime Minister excrement-for-brains!

Does your trust fund qualify as “dead money”??

#59 NoName on 09.28.17 at 8:19 pm

check it out, fear everywhere.

http://www.probit.ca/recent-developments/september-2017-newsletter/

#60 the Jaguar on 09.28.17 at 8:21 pm

Morneau’s been airbrushed in that photo. Or maybe it’s a Lee Harvey Oswald moment and it’s his body double’s face on Bill’s body. I’ve been confused ever since everyone in Ottawa went Hollywood on us.
If major media did in fact ‘spike’ the ‘inconvenient truth’ story regarding the real estate market it would be interesting to know how they all got the memo at the same time. The very idea of it is beyond creepy. Orwellian. Was it considered a threat to national security? Was somebody afraid the stampede towards the exit doors might result in numerous injuries or deaths? If this is true there are no words. Well…maybe ‘Banana Republic’. Maybe we can run Rocketman against Justin in the next election.

#61 Howard on 09.28.17 at 8:21 pm

I would be okay with you censoring the obnoxious “FIRST!” idiots.

#62 Howard on 09.28.17 at 8:26 pm

#34 I am Toronto on 09.28.17 at 7:54 pm
I smell so bad and house the ugliest of women. I am Toronto.

I am filled with pollution and strange people who think they are so cool. I am Toronto!

A looser wanna be New York. . .filled to the rafters with more real estate agents then bed bugs. I am Toronto!

I attract the type of women, who no one wants to date. I am Toronto.

Please stop by sometime.

————————

Toronto – a city where smiling in the general direction of a woman in the subway can get you arrested on a rape charge.

#63 Smoking Man on 09.28.17 at 8:27 pm

Turner Nation

A lot more fun than Dollarama

https://coinmarketcap.com/currencies/ethereum/

#64 Tony Bolgoney on 09.28.17 at 8:27 pm

as a government employee why should i feel sorry for people who get to write off their personal pleasure items as business expenses cell phones, laptops, ipads, home office equipment, internet usage, luxury vehicles, fancy restaurants meals oh and lets not forget my fav the annual business expense to Las Vegas in the name of some an industry conference. (i find you dont talk about that ever)

Mean while I wake up every morning to get into my Mazda 3 and drive to my dungeon of a cell (office cubicle) to work my mandatory sentence of 9-5:15pm. Knowing full well have wasted the best years of my life being miserable working in a unappreciated environment. My government salary needs to pay my gas, insurance, monthly parking, and the usual sob story charity the pretty people in HR are peddling that month.

The only end is retirement and that is if i can make it that long. Unlike the “creme of society” you keep defending. the highlight of my year is spending the day in a Health and Safety training session with the Colossal perk of getting assorted finger sandwhiches as restitution for missing my lunch.

Shame on anyone that doesn’t feel the same misery as me. Every cent of my salary is Taxed with no ability to avoid.

#65 tfrost on 09.28.17 at 8:34 pm

ad $ mighty hard to come by in the traditional media these days…don’t think anything is off the table anymore…but it is pathetic they would pander to REMAX and tell people stupid shit that is not even true to make some bucks

#66 Screwed Canadian Millenial on 09.28.17 at 8:35 pm

Did you boomers miss me? I saw a lot of grumbling and crazy conspiracies in the comment section as I was scanning through the past few days worth. Did I not tell you boomers that I would be enjoying the beautiful weather we had here in the centre of the universe Toronto the past week. Well too bad that is over. Back to reality. Canadian reality unfortunately. I saw a few of you lunatics claiming I’m using multiple screen names. I chalk this up to you going senile. Rest assured, I only post under “Screwed Canadian Millenial.” I have no use for other names. Garth knows the email I post under and it’s always the same one. Garth can I get a blue Verified checkmark or something? Anyways it’s nice to see that I have some impostors and copycats. Seems to trigger the boomers.

Hey Garth, you know how I know you’re still a Conservative deep down at heart. You can mention Trump’s tax cuts (mostly for the rich) dozens of times without mentioning 1 word about deficits and debt.

Spoiler alert boomers: Tax cuts for the rich don’t pay for themselves with trickle down magic pixie dust. They never have and never will. No matter how much you wish and pray and make-belief. Trump is about to blow up a hole in the US budget. Tax cuts reduce revenues. Most boomers deny the existence of revenues.

I feel sorry for those poor old conservatives, they’ve been falling for the trickle down tax cut for the rich scam for 40 years and counting. Such useful idiots for the wealthy elites. Goldman Sachs and George Soros never had a best friend like Trump voters who willingly cut taxes for billionaires.

Typical conservatives. Tax cut and spend and blow up the budget deficit.

Here’s a few images since I know most of you are visual learners.

Bill Clinton raised taxes on the rich, economy boomed, he balanced the budget.

https://imgur.com/8aYWX8H

https://imgur.com/UeHqIIW

America was 10 years away from paying off the national debt when Bush took office. https://imgur.com/bdXv3au

George Dubya Bush (conservative hero and intellectual icon) wiped it out with idiotic tax cuts for the rich.

https://imgur.com/UF0Hamd

Crashed the economy with brilliant conservative economic policies.

Obama saved the economy. https://imgur.com/WawUiea

Obama cut the budget deficit by 2/3. https://imgur.com/176MTgc

And now Bush 2.0 aka Trump is about to do it all over again.

Rinse and repeat. Republicans crash the economy. Democrats put it back together.

Conservative ideology in a nutshell: https://imgur.com/M64HbCH

Toodles

#67 AJ in Steeltown on 09.28.17 at 8:43 pm

Hi Garth – Thanks for another great post.
Here’s to transparency for real estate in Canada. Let’s take it back. The data. The reporting. And especially balancing out the media spin.

#68 Scully on 09.28.17 at 8:46 pm

#TaxFairness, right next to #CelebrateMediocrity

#69 Old Ron the Realtor on 09.28.17 at 8:47 pm

MSM is hanging on by their finger nails. The print media particularly can’t afford to lose one inch of ad space. New Home Developers still buy a lot of ink, and it would not surprise me if the news outlets were asked to pull the negative prognostication.

The Real Estate industry has to realize however that we represent both Sellers and Buyers, and we have a fiduciary duty to report the facts honestly and without varnish.

With this in mind, I am very interested to see TREB’s September numbers for the GTA, which will be published next week.

#70 dr. talc on 09.28.17 at 8:52 pm

He looks like a cross between a game show host and “Mr. Sardonicus” (the 2nd worst horror film ever made, just behind Bill’s Oct 3 press conference)

People, we are being lied to by proven lairs.
Did they promise you a jet pack? Yes
Did they deliver a bicycle? Yes
As yourself:
“where is my jet pack”?

#71 backmarker on 09.28.17 at 8:53 pm

#20 We do not have a misogynist President like our Southern neighbours. We respect women.

“As long as we provide our Canadian women with careers”

Comedy through hypocrisy

#72 PEANUT BREATH on 09.28.17 at 8:54 pm

IT STARTED IN LONDON ONTARIO…..TODAY

STOREY GOES, PURCHASER REFUSED TO CLOSE 15 DAYS BEFORE IT WAS TO CLOSE…… VENDOR NOW OWNS TWO HOMES AND WILL HAVE TO BRIDGE FINANCE TILL HOPEFULLY IT SELLS AND WILL HAVE TO SUE, WHICH SHOULD TAKE 2 TO 3 YEARS TO MITIGATE LOSSES…. MORE TO COME…..

#73 crowdedelevatorfartz on 09.28.17 at 8:54 pm

@#65 Totally Screwed Whining Millenial
“Did you boomers miss me?”
+++++++

hate to burst your bubble but…….. no

#74 Pete on 09.28.17 at 8:56 pm

This article pretty much sums up the current state of our nation…and supports what Garth has been telling everyone:

http://business.financialpost.com/news/economy/after-hiking-twice-theres-no-predetermined-path-for-rates-from-here-poloz

#75 JSS on 09.28.17 at 8:58 pm

Ok forget this crying about taxes, housing, end of the world nonsense.

Question: is anyone going to the black sabbath end of the end movie playing in theatres tonight? Place is packed in edmonton

#76 Condos sales are finally affected? on 09.28.17 at 9:04 pm

Clients of ***** are invited to book a private appointment this Saturday Sept. 30th and Sunday Oct. 1st, beginning at 12pm, to view finishes, building model, and go over availability and incentives.

Buyer Incentives Include:

$1,000 Assignment (regularly $5,000)
Capped development levies
1 year FREE maintenance fees

Due to the sensitive nature of this project, floor plans and pricing will be available by appointment only.

#77 Pete from St. Cesaire on 09.28.17 at 9:04 pm

Husbands and wives who together invested time and capital to build a business will no longer be able to share income, even if they’re both shareholders, solely because they’re married.
——————————————————————-
Just another part of the plan to destroy the traditional family.

#78 Vanrentor on 09.28.17 at 9:06 pm

Here in Tsawwassen, 30 minutes south of Vancouver the high end market has died. A handful of sales over $2M in the last 12 months.

This house with a pool overlooking a golf course was originally for sale for $2.39 and had a deal close to asking. The buyer backed out and 3 months later they listed for around $2.1

Yesterday it was reduced to $1.75 Not sure if they plan to go after the original buyer for the difference.

https://www.realtor.ca/Residential/Single-Family/18617126/1152-JACKSON-WAY-Delta-British-Columbia-V4L1W4

https://evaluebc.bcassessment.ca/Property.aspx?_oa=QTAwMDA1VlFVRw==

#79 Long Branch Apprentice on 09.28.17 at 9:13 pm

#65 Screwed Canadian Millennial

Try some actual math instead.

https://www.thebalance.com/us-debt-by-president-by-dollar-and-percent-3306296

https://www.thebalance.com/national-debt-under-obama-3306293

You could tax everyone at 100% and still never pay down the debt. The problem is tax cuts or spending, it is in actual money creation itself. Stop trolling for attention and educate yourself on the real issues.

#80 Capt. Serious on 09.28.17 at 9:16 pm

I’m in this for the entertainment now. Like a beautiful bonfire. Bill is going to get #AngryComments tomorrow, but it will change nothing.

#81 Jean on 09.28.17 at 9:21 pm

Here are the charts for the UBS housing study. Toronto number one in the world, Vancouver dropped to four behind Munich and Stockholm.

http://www.zerohedge.com/news/2017-09-28/global-housing-bubble-biggest-these-cities

#82 Mexicanadian on 09.28.17 at 9:24 pm

None affect me. They hobble my country. So I care. — Garth

This ain’t the only or first government prerogative that hobbles the country. The two biggest are the income tax which punishes labour and burdens the employers to pay the government their cut before the business is even in the black, a tax on labour is an assualt on ones survival.

And the other more subversive assault is the fiat monetary system, a stealth theft of wealth from all the middle to lower and lowest income residents.

Beaver pelts, yes. You are a Canadian hero. — Garth

#83 Randy on 09.28.17 at 9:27 pm

The only link I found that survived (among 5) is this one:

http://www.news1130.com/2017/09/27/sales-luxury-detached-homes-drops-vancouver-remax/

And they added the following:

— Editor’s Note: This article has been updated to reflect correct information, after RE/MAX had advised us it had originally provided the wrong statistics.

#84 Smoking Man on 09.28.17 at 9:27 pm

#65 Screwed Canadian Millenial on 09.28.17 at 8:35 pm

Starting to like you, like me you give no shit. In spite of the fact that you’re a dumb as kid who thinks he knows shit, been there myself once.

Keep the debate going grasshopper. If you ever want to know how to trade forex and get rich beyond your wildest dreams, call me. Normally I don’t charge.

But you need a lot of work. Those teachers did a number on your head.

There is going to be a fee. It’s going to take a hell of an effort to get you out of your safe space and actually make a bet.

#85 Garthjr on 09.28.17 at 9:31 pm

Of course they had them removed, remax sponsors global and other broadcasting companies… they will only release the news they want ppl to believe and act upon. Just think of the real estate market has a correction, the money made by global and these other companies will be lost too

#86 Brian on 09.28.17 at 9:31 pm

Meanwhile, I got 1k in divvies today, will get another 1k tomorrow and 2k early next week. Financially free. In our 30s. Our mortgage on our west side Vancouver property easily covered by our divvies. Thanks dumb Canadians.

#87 Smoking Man on 09.28.17 at 9:33 pm

Garth, please stop posting those Dr. Tax post. I have high blood pressure, my head will explode soon. The thought of a girly man stealing my wealth with the pointed gun of the state. Just so he can get some rivet bucker votes from the NDP infuriates me.

Let’s do more posts on dogs, they are what makes living have a purpose.

#88 Happy daze on 09.28.17 at 9:34 pm

Borrowing money is not a form of income….this time in history will surely end….just walk away…..shut off the car and leave the keys in the ignition

#89 Screwed Canadian Millenial on 09.28.17 at 9:38 pm

#78 Long Branch Apprentice on 09.28.17 at 9:13 pm

LOL no one thing will pay off the entire debt in one fell swoop so why bother being fiscally responsible at all? Typical conservative mentality.

Republicans can’t be trusted with money.

https://imgur.com/UF0Hamd

https://imgur.com/UeHqIIW

I love how boomers here are bitching at Trudeau for his 0.8% deficit to GDP but love Trump who is about to explode the US budget deficit to 5% of GDP and bring back 1 trillion dollar budget deficits by the end of his 1st term.

Nearly all to give tax breaks to billionaires.

$5 trillion question for Trump tax plan: How to pay for it?
https://www.cnbc.com/2017/09/28/5-trillion-question-for-trump-tax-plan-how-to-pay-for-it.html

I said it before and I’ll say it again. Trump’s idiocy will get our Loonie back to par in no time.

Last time Republicans had the House, Senate and presidency, our Loonie went from 63 cents to par in 6 years.

If that tax plan gets through, it’ll be a disaster for the United States. Just like it was when Bush did it.

A Gift to Rich Families Like His, Trump’s Push to Repeal Estate Tax Denounced as ‘Shameful’
https://www.commondreams.org/news/2017/09/27/gift-rich-families-his-trumps-push-repeal-estate-tax-denounced-shameful

The estate tax literally affects the top 0.2% of households. The first 10 MILLION is exempt and then there is a 40% tax above that.

I feel so sad for the conservative keks who think that tax cuts for billionaires will trickle down onto them. Do you really think that Warren Buffet or George Soros are going to invite you onto their yacht?

So sad

#90 When Will They Raise Rates? on 09.28.17 at 9:39 pm

Beaver pelts, yes. You are a Canadian hero. — Garth

We have an abundance of this yellow, shiny, malleable stuff in the ground in Canada. I hear it’s been used as money for 5000 years… Can’t be printed ad infinitum.

http://i.imgur.com/HrWgE.jpg

#91 Whipster1 on 09.28.17 at 9:43 pm

Re #77 van rentor
Ya….did you also see the copsefield house dropped 1.2million? Still too high of a price tag after the drop but there are some big declines
———————————————————

Hey flop… I’m not the whip you refer to, just go by whip sometimes. And check out the one I just mentioned above to van rentor. Actually looking at Zolo.ca shows a few with big drops.

When looking at that site you need to type more than tsawwassen though… have to say ” tsawwassen north” to get the most hits. Or ” tsawwassen central” . It’s a bit glitchy if you don’t.

Keep up the good work, it’s valuable!

#92 BillyBob on 09.28.17 at 9:43 pm

*sigh*

Screwy, all you do is give people’s mouse-scrolling finger some exercise. Kind of like Mark. Time is precious, why do you waste your own and others?

Your antagonistic, binary way of thinking is too simplistic to be taken seriously. As I said, like a baby who’s amazed at the first discovery of their own toes. It must suck to try and inflame people and realize they’re just laughing at you.

Maybe try zero hedge?

#93 Smoking Man on 09.28.17 at 9:46 pm

#87 Screwed Canadian Millenial on 09.28.17 at 9:38 pm

Long Branch apprentice, Screwed Canadian Millenial is on George Soros payroll. He’s very good. Not as good as me.

Let me take care of this bitch boy, I own the comments section, notice he does not engage me directly. Pussy

Happens every time a liberal with no creative skills to figure out how to make loot sucks up to a paymaster.

#94 Cici on 09.28.17 at 9:49 pm

My guess is that Remax never willingly released the data in an official way…a disgruntled employee (or ex-employee) probably sent it to journalists in guise of an official announcement, at which point the execs probably freaked and scrambled to do damage control ASAP. Big machines don’t usually make those kinds of “mistakes” or turn around and do a 360 so quickly after such a major release. The swiftness of their reaction time leads me to think that this must have been an information leak.

#95 Long Branch Apprentice on 09.28.17 at 9:51 pm

#87 Screwed Canadian Millennial

It’s the interest on the debt. Try and focus, or do you need another Adderall?

If you’re so sure on CAD going to par, make a Forex bet. If you don’t know how, ask Smoking Man. I’ve met him in person and lived to tell about it.

The loonie moves on WTI and bond yield differentials, has little to do with which party is “in charge”.

You think you’re so clever, but you still haven’t peered behind the curtain.

#96 Prophecy on 09.28.17 at 9:55 pm

@#20,
While peasants force to worship the image of Morneau
as if he were the coming Messiah.
No! Thou not display arrogance, idolatry nor pride!
Have you not considered merchants from afar
Can take away thou wealth in an instant?
Have you not listened to the wise old men of Greater Fool?
Thou villas and penthouses are overvalued because of greed and theft.
Do not display a boastful mouth in front of peasants
For thy holy moral lesson is coming like a tweet Trump.
On those who are the wicked playing the victim from their villa in Toronto.

#97 TurnerNation on 09.28.17 at 9:57 pm

Smoking man sure it’s fun until the leverage rips your face of especially when the bucket shop broker declares a ‘fast market’ and nullifies all orders even stop loss ones.

A mention of R. Ford the other day…
I created this username at the heights of HarperNation, FordNation and LeafsNation. Where are they now?
Steve who?, Buried, and buried.
Only wish, I’d snagged DollaramaNation.

#98 Oft deleted much maligned stock.picker on 09.28.17 at 9:59 pm

People….you have to know how today’s mediaveorks. It’s not about reporting…it’s about finding a sponsor and reporting what they want to hear. Since the last two great recessions media companies have no revenue from traditional sponsors so government propaganda and real real estate developers are 99% of all that keeps the do called reporters from flipping burgers. Unions create ” power panels” on CBC and spew vicious propaganda…..as news…not news…..propaganda….CBC gets to live beyond it’s means. Media outlets are paid to run fluff about Trudeaus socks…..not news….paid propaganda. The Liberal gov pays foreign publications to print fluff about Trudeau….to make it look like he’s popular elsewhere….allbpropaganda. They were caught lining the path with street walkers in the Philippines and had to kill the story….all oropaganda. Csght spending 13 million on Facebook ads about Trudeau Trendy…..fake fake fake. Etc etc. Without propaganda money the media would fold with the double whammy of low ad revenue and the internet…..the media have become straight up….whores…..and you should read and listen as you would a comic book. Garth is much closer to truth than media…..he at least admits his biases. Believe the media at your oeril.

#99 KLNR on 09.28.17 at 9:59 pm

#34 I am Toronto on 09.28.17 at 7:54 pm
I smell so bad and house the ugliest of women. I am Toronto.

I am filled with pollution and strange people who think they are so cool. I am Toronto!

A looser wanna be New York. . .filled to the rafters with more real estate agents then bed bugs. I am Toronto!

I attract the type of women, who no one wants to date. I am Toronto.

Please stop by sometime.

___________________________________

Garth, I’m kinda surprised you allow tripe like this to be posted.

It was in rebuttal to some other tripe, which you failed to mention. — Garth

#100 april on 09.28.17 at 10:02 pm

#75 – might be more informative if one knew where in Canada you are referring to?

#101 Smoking Man on 09.28.17 at 10:11 pm

My Hero, the father of music.

https://www.youtube.com/watch?v=ye2N_2ce3QE

#102 will on 09.28.17 at 10:12 pm

“If you are paying a dividend to your spouse or adult children who have not provided reasonable services to your business, you could be affected”

Just a note on definitions: Dividends are not paid for services. Dividends are paid to shareholders. People who provide services or labour are paid wages or fees, which are taxed differently. So this raises lots of questions.

Are the children and spouses shareholders? Or are they performing labour or a service to the company? Which is it? Have children and spouses been filing falsely? Unless definitions have changed radically since I studied it all, dividends are paid to shareholders. As far as “sprinkling” goes, there is nothing stopping anyone from gifting money to anyone but you can’t do that with money before tax has been paid on it. Give as much away as you want, but CRA gets paid first.

Maybe the finance minister is trying to right a wrong that has been going on for god knows how long. If that is the case then he is right to do so. But it is also an admission that CRA has been incompetent – perhaps willfully incompetent – for some time. BTW, can anyone imagine this going on under the liberal harper regime? I can’t.

(And yeah I am saying harper was no conservative).

#103 Mexicanadian on 09.28.17 at 10:15 pm

#88 When Will They Raise Rates? on 09.28.17 at 9:39 pm

Beaver pelts, yes. You are a Canadian hero. — Garth

We have an abundance of this yellow, shiny, malleable stuff in the ground in Canada. I hear it’s been used as money for 5000 years… Can’t be printed ad infinitum.

http://i.imgur.com/HrWgE.jpg

Thanks man, nice chart. I was born on Sept 10 1970, the day before the world went to hell in 2001, and the same year the world rejected the gold standard.

But as evil as the fiat monetary system is, i think the income tax is more detrimental because the power to tax is the power to destroy.

Economics is really simple but since the government controls the curriculum of the education system from k to PHD, as well as the health care system and or course the central bank and interest rates, the cost of capital, (all tenets of the marxist ideology), its no wonder most people are oblivious to what’s happening to them everyday.

People rage against slavery and know it’s wrong but we are all simply willing slaves ignorant of the tyranny under which we toil. Sadly.

#104 Smoking Man on 09.28.17 at 10:18 pm

Failing science class, I built an RC aircraft, Reynolds numbers for my wind tunnel, this song was on the loudspeakers. It flew,
flew high. Responded perfect to my sodered motherboard. My crime, an elastic band, perfectly aimed at the back of my teachers head. I got rated out.

School = behavior, not brains.

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

#105 Screwed Canadian Millenial on 09.28.17 at 10:19 pm

#83 Smoking Man on 09.28.17 at 9:27 pm

Lol Smokey something tells me if I invested $1000 maplebux with you, that would be the last time I ever saw that $1000.

Forex must be the name of your hooker LOL!

No safe space with me boomer. And those well paid Ontario teachers did no number on me, I always had a problem with authority.

Conservatives bow to authority and never question the system. Tax cuts for billionaires, that’s the conservative mantra.

#106 Screwed Canadian Millenial on 09.28.17 at 10:20 pm

Boomers, use archive.is if you want to save articles before they get taken down.

#107 Blog dog for truth on 09.28.17 at 10:21 pm

re: #8 (The Technical Analyst, CSTA, CPD) –
Regarding the dissenting Doctors in support of federal tax reforms, three important points that should allow anyone with a rudimentary grasp of logic to understand the real situation:
i) At last count there were 400 who have signed the letter. There are 77,000 MDs in Canada
ii) Most of the Doctors who have signed the letter are not incorporated and do not run small businesses/medical practices. For example, one of the profiled Docs works for the Inner City Health Associates – which, by the way is funded through the MOHLTC as an alternative payment plan (someone else administers the practice and pays for the overhead). You would have to look long and hard through the list of 400 to find an MD who actually manages and finances their own medical practice.
iii) if anyone believes that this government is going to invest any of the potential tax revenues back into clinical health care (focus groups, clipboard holding medical bureaucrats etc don’t count) I have a great vacation property in Barbuda to sell you

re: #34 (Jim) –
Jim – physician compensation is not growing at 8-9% a year as you claim. I understand that if you only read the Toronto Star and skim the headlines it is easy to be confused. The important distinction on which the headlines are based is the ‘Physicians Services Budget (PSB)’ – the amount that goes to MD payments (for patient services/care). Keep in mind that this is the total amount of money for a budget – it is not about anyone’s salary/take home pay. There are more patients every year, and more MDs in the system every year and so the PSB actually has little to do with the amount of $ an MD takes home. Funding for PSB in Ontario has actually been cut since 2012 – unilaterally so by the Ontario government in 2015. The last few years the fee cuts have been 6.9%/year. The Ontario medical association (OMA) currently is suing the gov at the superior court of justice for the constitutional right to a binding dispute mechanism for disputes over compensation and rightly so because what happens to MDs, and to patients if next year they decide unilaterally on a 20% cut, ? what about a 50% cut. If this happens I hope you know how to take out your own appendix. I am going to put it simply (although as a disclaimer this is an estimate on my part) that taking into account inflation and the 6.9%/year cuts – the average MD in ontario is taking home about 20% less income for the same amount of work (2017 compared to 2012). Unless things change patients in a few years are going to wonder what happened to their ability to get health care – because I am telling you the honest truth here – starting MDs will not practice here, and eventually practicing MDs will reach their breaking point and leave.

I am a doc in ontario so I can tell you how I feel about all this. When I started work here 10-15 years ago, in my specialty working in Ontario was the lowest paying jurisdiction for me to practice for equivalent work hours, type of practice etc. (compared with other provinces – BC Alberta, US, new zealand, ? others). I wanted to practice here because this is my home, where my family is. I love this country and what it means to be Canadian. I have and will gladly take the ‘home town discount’ to stay here. However, with what has happened in Ontario and now with fed tax changes at some point everybody has there ‘thats it I’m out of here’ moment. I don’t know where that will be but I am a lot closer to it then I every thought I would be. Sure, it is partly about the $ – meaning I want to retire in a somewhat similar fashion to my federal public service inlaws and these tax changes are going to significantly impact my ability to do that. Contrary to popular belief I live in a modest home, I drive a crappy 10 year old car, kids go to public school, etc. It is mostly though about a PM who talks about MDs with disdain in the house of commons, about a Finance Minister who is doing his best to make ‘Doctor’ a dirty word.

On a lighter note – thank you Rick Mercer for your recent rant on the tax changes. Watching it was the highlight of my day.

#108 Screwed Canadian Millenial on 09.28.17 at 10:23 pm

Toronto Has World’s Highest Risk Of A Housing Bubble Burst: UBS
http://www.huffingtonpost.ca/2017/09/28/toronto-has-world-s-highest-risk-of-a-housing-bubble-burst-ubs_a_23226236/?utm_hp_ref=ca-homepage

I sure as hell hope so. Let it all go down I say.

“The bank noted that Toronto’s inflation-adjusted house prices have doubled in 13 years, while incomes have risen 10 only per cent.”

What a joke. Less than 1% real wage growth per year since 2004. No wonder everyone is speculating on housing. Pays better than their jobs.

Didn’t I tell you Garth, it’s all connected. Mass immigration, wage suppression, housing bubble…

There is no mass immigration. Mass stupidity? A better bet. — Garth

#109 For those about to flop... on 09.28.17 at 10:27 pm

Welcome to Garth “Thor” Turner’s cultural corner.

Normally on Friday nights I go through the listings to see if there were any sales in the last week and ask for realtor assistance to report in real time,but tomorrow I will probably give it a rest as it is Australian football Grand Final,our version of the Super Bowl.

WULLY and myself had a bet earlier in the year and at that time I predicted the Cats to get some revenge after the Dogs won last year but the Cats were knocked out last week and it is the Richmond Tigers against the Adelaide Crows.

Pre-match entertainment is American band the Killers ,a band that I like mainly because of the album Hot Fuss, and I predict they will play a song that I’m pretty sure that they wrote about Justin Trudeau,Mr Brightside…

M43BC

#110 NoName on 09.28.17 at 10:28 pm

Hey gentle ,loving kindness
whats up with BRZU.N ????


chcked chart for this one other day looking good, i’m wondering did you ever got those call?


#40 NoName on 05.19.17 at 9:21 pm
how to lose money 101

http://bit.ly/2rBLfp8

#PeptoBismo


#113 Gentle ,Loving Kindness on 05.20.17 at 6:28 pm

BRZU.N, Buy call $25.00 strike at $9.50 for Sept 15/17. This will give leverage on the Leveraged ETF. This went down out of trend due to a political scandal in Brazil, and it will rally back, and reward this “investment “as a three banger minimum.

@113
yes, you can hope that dead cat will bounce bit more, and that option seems bit pricy for duration but my water account is dormant for some time now so i can’t acces it and cheq the rest. volatility for short option is there and alure of easy money on that trade is very tempting i have to admit.

but no tnx to many people are thinking a same. When everione is thinking same noone is actualy thinking…

#111 akashic records on 09.28.17 at 10:33 pm

#5 Dave on 09.28.17 at 6:30 pm

“But it’s unconscionable that media would censor. Even this blog doesn’t stoop that low.”

Yes you do, you delete comments that draw attention to the fact that you have been advising against buying in Vancouver ever since you started this blog and that people would have been way ahead had they bought 7 years ago

Yes, the racist ones. — Garth

====

“Racism” is a leftist identity politics favourite, which was successfully pushed over almost the entire political spectrum recently.

It is a much bigger scam, more unconscionable than real estate can ever be, motivated exclusively to gain political power by amplifying or creating artificial divisions among the people.

Tough. My blog. My values. — Garth

#112 Tony on 09.28.17 at 10:39 pm

Re: #15 TurnerNation on 09.28.17 at 6:56 pm

I was “all in” on HVI.TO about 2 weeks before the November election in 2016. Don’t ask how much I was down at 2:00am and unloaded at the 9:30am open on election day. To this day I swear the only reason anyone voted for Trump was regarding Obamacare.

#113 Smoking Man on 09.28.17 at 10:48 pm

When sneezed out red wine all over the screen, run out of wight wine, had to go to red.

When you figure it out dogs

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

#114 David on 09.28.17 at 10:50 pm

Scary is appropriate diction. I have a beautiful 5 day old grand daughter and I am more worried about her than me. This kind of fact free magical thinking about real estate freed any normal disciplined thought about rents, ownership costs, taxes and incomes is frightening.
Interest rates of 5% are way below historical interest costs for the past 60 years in Canada.
Bill Morneau is hardly a great advocate and champion of tax fairness.

http://www.mortgagearchitects.ca/crm/myNext_Now/extras/FYRF3_E_JAN10_04_Web.pdf

https://www.counterpunch.org/2017/06/06/a-little-crooked-house-trudeau-morneau-bmo-kpmg-inc/

#115 sugarlips on 09.28.17 at 10:55 pm

I note that even in the pulled article they still couldn’t resist trying to sugarcoat the truth “slipped more than 40%” who (outside of real estate) uses that language? Surely they mean “crashed more than 40%” or “collapsed more than 40%”.

Either way it’s lipstick on a pig.

Maybe Re/max put it out there just so that when the inevitable and unavoidable “slippage” in the wider market finally happens they can point to this one non-ramping article and say we warned you, you should trust us more often…

#116 Dmitry on 09.28.17 at 11:09 pm

#63 Tony Bolgoney

Because you’re loser Tony.
That simple.
We have same equal opportunities.
Why don’t you do a bit self education while you’re bored in your cubicle and do a bit of research where to invest your time and efforts with more return than boring government gig?
Just driving your mazda3 every day to government job, sitting in boring cubicle is easy, lazy, relaxing, stupidifying, degrading, but losers love it.

#117 Bob on 09.28.17 at 11:11 pm

“None affect me. They hobble my country. So I care…Garth”
________________________________________________

Admirable sentiment for someone who helped build this country…but the population we have today are not of the same ilk.

#118 Al Sinner on 09.28.17 at 11:13 pm

CP24 really needs to block ReMax and the other liars sponsoring ther ‘Hot Property’ segment. Its unbelievable how many people watch this show and get advice from those hungry for their next commission cheque.

Al Sinshyster and co believe the Toronto market is moving again, “we’re all busy, we dont know what people are talking about”. What was also funny, they (Experts from Remax and Monster Mortgage) claim that negative studies about the market is hurting the industry, its false news in other words. Dont believe it people….Well isnt the same ‘studies’ about RE going up again 30$ YoY what brought the GTA market to eye popping prices? You people made people think they will win the lottery buy buying low and selling higher in a few months!

Anyways, yeah that study was the UBS one brought today. Al Sinner said “how can a firm in Switzerland study a market in Toronto. We know whats going on here not you”. Mr. Sinner, UBS is a global firm. They have an office in BC!

#119 Dmitry on 09.28.17 at 11:15 pm

#65 Screwed Canadian Millenial

Hey screwy, you’re back!
We missed you, our favorite blog clown.
Just like in school, when class clown is away the class gets bored.
But you’re back now, so let’s have fun.

#120 When Will They Raise Rates? on 09.28.17 at 11:17 pm

#93 Mexicanadian on 09.28.17 at 10:15 pm

Thanks man, nice chart. I was born on Sept 10 1970, the day before the world went to hell in 2001, and the same year the world rejected the gold standard.

But as evil as the fiat monetary system is, i think the income tax is more detrimental because the power to tax is the power to destroy.

Economics is really simple but since the government controls the curriculum of the education system from k to PHD, as well as the health care system and or course the central bank and interest rates, the cost of capital, (all tenets of the marxist ideology), its no wonder most people are oblivious to what’s happening to them everyday.

People rage against slavery and know it’s wrong but we are all simply willing slaves ignorant of the tyranny under which we toil. Sadly.

————————————-

Yup, well said.

#121 Pete on 09.28.17 at 11:17 pm

Mayor of Milton #56

I am Toronto #47

Doesn’t it suck being able to see reality? Ignorance is bliss. Toronto is a Ponzi scheme which needs more and more suckers into believing a lie. It really is a miserable city that sucks the life out of you. Ever go on vacation and have 8’s and 9’s type of girls smile and say HI to you? It throws you off. You start to look around thinking she was smiling and talking to someone else. When was the last time you even saw a miserable Toronto girl even smile? Enough of a rant I could go on. Milton…LOL I think the mayor of Milton has that covered.

#122 FULL VIDEO on 09.28.17 at 11:21 pm

“But it’s unconscionable that media would censor. Even this blog doesn’t stoop that low.”–GT

Umm…are you sure it doesn’t stoop that low? What about this very long list of just some of the many things that you seem to be quite sensitive and touchy about:

1. DELETED

#123 Keith in Rio on 09.28.17 at 11:29 pm

“Presstitutes”

Please feel free to use this word whenever you want to describe the agents of the “fake news” MSM. It’s not even copyrighted or trademarked………..heh.

I live Donald Trump. He sacked every quarterback in one play. The National Felons League (NFL) is folding up like cheap suit that they are in light of the display of power by what is good and right.

#124 Fake News Again on 09.28.17 at 11:45 pm

#37 John on 09.28.17 at 7:47 pm
Time for some full disclosure Garth. What is your net worth? What is your anual income? How much do you pay in personal tax? How much income do you personally stand to loose due to the proposed changes?

None affect me. They hobble my country. So I care. — Garth

__________

BEST COMMENT BY GARTH EVER

#125 would-be buyer on 09.29.17 at 12:26 am

The stress test has already been baked in. I have a family member who does high net worth mortgage lending at HSBC in Vancouverr and she tells me that they have stress tested non-insured mortgages for over a year. Non issue. The issue is whether banks will require students and homemakers to prove INCOME when purchasing VAN RE. That will have a greater effect.

#126 Banjito on 09.29.17 at 12:41 am

#56 Mayor of Milton on 09.28.17 at 8:13 pm

Hello Folks! Wow, that Toronto guy seems not to be enjoying his time in that horribly congested, polluted city. Why, have you ever considered the lovely beige suburb of Milton?”

You done forgot the duelling banjoes boy!

#127 Banjito on 09.29.17 at 12:45 am

Some real Hogtown haters here…..just wait till the new Sheriffa Hillary and her cankles chase you out of dodge….yous been warned!

#128 Rentin on 09.29.17 at 1:08 am

Haven’t read all the responses, but here is a working link to the story:

http://www.news1130.com/2017/09/27/sales-luxury-detached-homes-drops-vancouver-remax/

#129 NEVER GIVE UP on 09.29.17 at 1:11 am

#45 Good Riddance Misogynist Rapist Hugh Hefner on 09.28.17 at 7:53
==================================

I’m going to miss him!
I also respect everything he stood for!
He changed our views and opened our eyes!
RIP Hugh!

#130 BS on 09.29.17 at 1:11 am

#52 Chaddywack on 09.28.17 at 8:01 pm

My brother just listed his house in the Vancouver area artificially low to try and start a bidding war. Apparently their open house had only 9 people show up over the weekend and they got exactly 1 offer for the (artificially low) price they asked for…

Could this backfire on him or is it relatively benign, but just untimely on his part?

His artificiality low price was actually the correct price based on nine people showing for an open house and only one offer. Your bother and/or his realtor are out to lunch to increase the price. They likely will end up chasing the market down and never get the price they were offered again.

#131 BS on 09.29.17 at 1:20 am

77 Vanrentor on 09.28.17 at 9:06 pm
Here in Tsawwassen, 30 minutes south of Vancouver the high end market has died. A handful of sales over $2M in the last 12 months.

This house with a pool overlooking a golf course was originally for sale for $2.39 and had a deal close to asking. The buyer backed out and 3 months later they listed for around $2.1

Yesterday it was reduced to $1.75 Not sure if they plan to go after the original buyer for the difference.

Tsawwassen 30 minutes out of Vancouver? Maybe at 3am. It takes 30 minutes to get through the tunnel. I bet the NDP canceling the bridge cost the deal and accounts for the sales slump and price reductions in Tsawwassen.

#132 Quit Whining! on 09.29.17 at 1:25 am

For the last time, QUIT WHINING!

#133 Dolce Vita on 09.29.17 at 1:26 am

Living in Italy at the onset of my retirement was supposed to be a 3 or 4 year sojourn to travel the EU quickly; rather than, fly back and forth over the N. Atlantic.

The more I read Canadian news and what people really think on this Blog, the more I am starting to realize I may be here longer than planned. Well, at least the food’s better and when bored, I can hop a train for €7 and be in tourist ant hill Venice (sigh) in about an hour.

Actually agree with pessimistic, authority and spelling challenged SCM (until he gathers wealth and learns to use Spell Check) that Canadians are gambling their future away on single asset RE as wages have been stagnant and taxes it seems, always on the rise.

Hoping today’s GDP Report stellar as were the last few, then again, that will embolden Poloz to raise rates and that cannot be good news if we believe all the dour Doomer MSM articles about how far too many Canadians are on the cusp of financial difficulty or near ruin.

Oh well, back to the fine wine and grappa my cousin brought me last night. Vendemmia now in Italy, a good time of the year to be here.

#134 BS on 09.29.17 at 1:26 am

68 Old Ron the Realtor on 09.28.17 at 8:47 pm

MSM is hanging on by their finger nails. The print media particularly can’t afford to lose one inch of ad space. New Home Developers still buy a lot of ink, and it would not surprise me if the news outlets were asked to pull the negative prognostication.

The Real Estate industry has to realize however that we represent both Sellers and Buyers, and we have a fiduciary duty to report the facts honestly and without varnish.

“We have a fiduciary duty to report the facts honestly and without varnish”

That was hilarious. Have ever met a realtor or do you just play one on this blog? Do you even know what fiduciary duty means?

#135 BS on 09.29.17 at 1:34 am

68 Old Ron the Realtor on 09.28.17 at 8:47 pm

“We have a fiduciary duty to report the facts honestly and without varnish”

Note: While Realtors have agency duties of loyalty, disclosure and confidentiality to their clients, they don’t have these obligations to parties who are not clients. It’s also possible for a Realtor to assist you via a “customer relationship.” A Realtor who represents you in this way isn’t your agent and has no fiduciary duties to you.

http://www.rebgv.org/faq/who-your-agent-and-what-are-their-obligations

#136 Dolce Vita on 09.29.17 at 1:42 am

Happy Housing Crash Everyone! posted a link to the projected effect of B20.

That prompted me to look for a B20 stress test web site where you could enter information for a mortgage including, your TDS and GDS information, and have it return an answer as to whether you qualify for a mortgage or not AND have it return the maximum mortgage you can afford.

Could not find a single web site that does this, including the banks. The closest was CMHC where they calculate your TDS and GDS, and that’s all.

Apparently, no one wants to face up to the B20 truth of fewer qualified buyers and reduced mortgage amounts – let’s not scare away potential business by allowing customers to inform themselves before hand.

This lack of information will make it easy for OSFI to pass B20 without much opposition.

Many hypothesize about its effect, yet none provide the simple calculations on line that an informed RE buyer would make.

#137 Where's The Money Guido? on 09.29.17 at 2:47 am

Re: #5 Dave on 09.28.17 at 6:30 pm
“But it’s unconscionable that media would censor. Even this blog doesn’t stoop that low.”

Yes you do, you delete comments that draw attention to the fact that you have been advising against buying in Vancouver ever since you started this blog and that people would have been way ahead had they bought 7 years ago

Yes, the racist ones. — Garth

Come on Garth, you have censored me at least twice in the last couple days when I was replying to others’ posts and they had nothing to do with race, just a calling out of the OVERLORDS!!!!

#138 Under the radar on 09.29.17 at 5:55 am

A lot of deals came across my desk in the last two weeks. Prices are high, central Toronto is a busy place for real estate. many homes going over asking. Marginal homes that were once selling for $1 million now selling for $870,000. demand locations are still receiving multiple offers and selling very quickly.sorry folks, I don’t see any huge meltdown in central Toronto. So far, No exogenous qevent on the horizon capable of bringing down Toronto real estate. 6% prime seems far away

#139 Dharma Bum on 09.29.17 at 6:21 am

#53 Nonplused

“However I have formulated, at least partially, my response to Turdeau and Moroneau’s plan. I will retire December 31st. I don’t see any point to continue working. There is no money in it after all the taxes. Maybe I’ll become a ski instructor.”
——————————————————————-

Excellent!

You have seen the light, my son!

Time to start living the Dharma Bum life.

It is very encouraging to read about those who have figured it out.

This is called enlightenment. The moment of clarity that is life changing.

Starve the beast. Ski the Rockies.

See you in the mountains.

#140 rainclouds on 09.29.17 at 6:41 am

#44 Victoria

Something tells me RE will be part of this investigation

http://vancouversun.com/news/national/exclusive-how-b-c-casinos-are-used-to-launder-millions-in-drug-cash

“The Macau whales were able to gamble with suspected drug cash supplied by Jin’s network, especially at River Rock Casino, the investigation documents allege. With those funds borrowed from Jin and “private lenders,” they were not only able to gamble, but to develop real estate in B.C.”

#141 Jean on 09.29.17 at 7:15 am

Does anyone know if this sort of restriction exists in Canada? I.e. if you rent out a room / whole apartment on AirBnb, do you need to let your lender know (and therefore possibly pay higher rates)? And if you don’t tell them you might be in violation of loan terms and have it immediately called? Maybe an issue in some big Canadian cities? Just curious…

http://www.telegraph.co.uk/personal-banking/mortgages/shock-threat-airbnb-hosts-mortgage-lenders-say-breach-contract/

#142 Ron on 09.29.17 at 7:17 am

Check out the two articles referenced below that I was able to come across on the same day (Sept. 27). One article boasts about luxury sales being strong (titled: “Toronto luxury sales stay strong in the first half of 2017: Re/Max), while the other article says the opposite. It’s baffling that both rely on Re/Max as their source of information. The more bearish link seems to have been removed, but a google search of the article name brings up an inoperable link.

http://m.torontosun.com/2017/09/27/luxury-real-estate-sales-down-in-toronto

http://www.bnn.ca/toronto-luxury-home-sales-stay-strong-in-first-half-of-2017-re-max-1.868175

#143 Condos sales are finally affected? on 09.29.17 at 7:35 am

#98 april on 09.28.17 at 10:02 pm

That’s in Toronto

#144 Condos sales are finally affected? on 09.29.17 at 7:38 am

It seems I was wrong, those incentives is not something new: http://www.condominiums.ca/vip-condo-info

#145 NoName on 09.29.17 at 8:04 am

google Canada re buble searches are up again…

https://imgur.com/a/ge3OM

#146 Ian on 09.29.17 at 8:12 am

Protest outside Morneau’s office on Parliament St Sunday at 1pm!! (That’s in Toronto, I know the street name makes it confusing)

I can walk there in 8 minutes. I hope the whole street is full from Bloor to the lake.

#147 maxx on 09.29.17 at 8:12 am

#18 Russ on 09.28.17 at 7:03 pm

“And then we leave family trusts untouched in this scheme?
Those trusts should have all incomes taxed each year before distribution to the likes of Bill and T2. That’s fair!”

Totally agree on this particular point.

I’m also looking forward to the day whereby all financial transactions, that’s deposits, transfers as well as payments, over $100 must be done by electronic means. 100% traceable, 100% transparent. Any party caught violating this, whether seller, buyer or intermediary, would see the sharp end of CRAs stick, and rapidly, without exception.

That should cut down a bit on opaque tax losses.

#148 Alistair McLaughlin on 09.29.17 at 8:17 am

I pointed out exactly this sort of shenanigans in the Ottawa Citizen about a month ago. In that case, the article wasn’t pulled, but the headline was changed from a negative to a positive spin, and any mention of price drops in Ottawa over the summer were removed.

#149 Ian on 09.29.17 at 8:18 am

#134 Dolce

I’ve been wondering about that ever since Happy Stress Test was proposed. Garth was good to mention some of the feedback coming from the industry, eg ‘credit will be cut 18%’, and someone said they had plugged numbers into a spreadsheet, but I still haven’t seen a good mathematical analysis of the effects. One being, how much $ of mortgages renew in 2018, as those people will now be subject to Renewal Happy Stress Test etc.

Anyway if it’s live in four weeks, I guess it won’t take long to start seeing its effects.

#150 Harry Palmer on 09.29.17 at 8:27 am

#37 John on 09.28.17 at 7:47 pm
……How much income do you personally stand to loose due to the proposed changes?

None affect me. They hobble my country. So I care. — Garth

Sadly, the tax man, mortgage and BMW lease has to be fed before the investment account…..

I suspect not even Garth can fully escape the hit, as I expect Morneau’s changes will put a serious dent in the pocketbooks of several of his clients.

Still, I am glad that our host spends so much of his personal time helping those who would be helped. Just wish a few Ontario and Federal Liberal cabinet members were cut from the same cloth.

#151 Gentle ,Loving Kindness on 09.29.17 at 8:34 am

#108 NoName on 09.28.17 at 10:28 pm
Hey gentle ,loving kindness
whats up with BRZU.N ????

chcked chart for this one other day looking good, i’m wondering did you ever got those call?

It was a “Paper Trade” only. Options can get tricky 

#152 crowdedelevatorfartz on 09.29.17 at 8:41 am

@#123 Would be buyer
“The issue is whether banks will require students and homemakers to prove INCOME when purchasing VAN RE. That will have a greater effect….”
+++++

Non issue
Perhaps you should talk to your friend at HSBC ( Hang Seng Bank Corp) and ask them how many students and homemakers actually need a mortgage…..they pay cash.

The issue is…..
Where the cash is coming from?
Why are there no limits on foreign ownership?
Why are these houses allowed to sit …empty…as prices skyrocket to the stratusphere and vacancy rates plummet?
Why are off shore investors allowed the same tax breaks as over taxed canadians?
Why are real estate agencies allowed to hold all the sales statistics?
Why is there no govt agencies or the internet producing verifiable….accurate sales stats?
Or , more importantly, Why arent they allowed in Canada?
Why is the Real Estate industry not being challenged in the Courts to end their monpoly on information?
Why arent the Courts heavily fining and jailing Realtors that break the Law with gossly fraudulent sales tactics?

and on and on and on……

#153 TurnerNation on 09.29.17 at 8:44 am

#109 akashic I look for trends. One is history already re-written by the victors further used against us.
Stories like this every day are planted in newz.
Can you spot it…making use of an event from 80 (!) Years ago and one from over 200 years ago.

Solution.of course is de facto guilt and re-education for all.

http://www.cp24.com/mobile/news/junior-fellows-demand-apology-after-alleged-racist-incident-at-massey-college-1.3611064

#154 crowdedelevatorfartz on 09.29.17 at 8:54 am

@#45 Good Riddance to all Mysandrists from Toronto

Mysoginist Hugh Hefner wasnt involved in the day to day ops of Playbore for years.
His daughter Christy Hefner was the editor that ran it into the ground ………as well as the internet.
From monthly circulation of 7 million copies world wide in the 1970’s to it’s sad state today( less than a million a month today) Playboy’s boring experiment with non nudity a few years back might have been the beginning of the end.
The company has been earning more money for its “Rabbit Ears” symbol than anything else. Not to mention copyright infringement lawsuits.

Who knows, perhaps Playboy will be like Elvis( once his ex wife Pricilla cracked down on the people running the estate) or Michael Jackson ( after he OD’d and couldnt create more scandalous allegations involving underaged boys and “sleep overs”).

Eventually worth more dead than alive

#155 Town Hall Charlie on 09.29.17 at 9:16 am

Extra $240 Million raised by this policy, great use of time all this debate and consultation has been over $240 Million. I suppose it’s about changing the economy, not about money. It’s about moving everyone to the cities and out of the rural.

#156 SilverSon on 09.29.17 at 9:21 am

#37 John on 09.28.17 at 7:47 pm

Garth has stated before that financial advisers are not allowed to incorporate like doctors, IT dudes, farmers, etc. As such, financial advisers end up paying the same taxes as if they were employees of a company which means they are already paying full pop and not affected by the upcoming tax changes.

Garth – maybe we need a second font available in the Comments section. Is there such thing as a CRAYON font?

#157 Dolce Vita on 09.29.17 at 9:34 am

GDP 0% in July 2017.

September 2017 Labour Force Survey out next Friday. August’s was up by 0.1% and unemployment down by 0.1%.

So July 0% GDP may well be anomalous.

Whether it is or it is not, we should have a very good idea in the last week of October, first few days of November when the August GDP and October Labour Force Survey’s are reported.

What will Poloz do now?

Probably, wait and see…then again.

#158 crypto on 09.29.17 at 9:41 am

Garth/Blogdogs, the only way to starve the beast is to starve/disrupt the companies that feed it such as the banks. One of the biggest benefits of crypto currencies is its disruptive nature. here are some of the benefits of using cryptos
http://www.huffingtonpost.com/ameer-rosic-/7-incredible-benefits-of-_1_b_13160110.html

https://techcrunch.com/2017/09/28/fidelity-ceo-abigail-johnson-says-the-company-is-mining-cryptocurrencies/

https://cointelegraph.com/news/welcome-to-canada-bitcoin-regulators-approve-first-bitcoin-fund-manager

http://globe2go.newspaperdirect.com/epaper/showlink.aspx?bookmarkid=HNOAMBEVDZY1&issue=18932017092300000000001001&article=72396e7d-6f29-4d1e-bc55-f8de08a1cc69

https://cointelegraph.com/news/welcome-to-canada-bitcoin-regulators-approve-first-bitcoin-fund-manager

#159 The Technical Analyst, CSTA, CPD on 09.29.17 at 9:42 am

Thanks Garth for posting the live link to watch Bill Morneau. I took the time to watch the entire presentation.

My take-a-ways:

“My goal is to increase business investment in Canada, not to decrease it.” – Bill Morneau.

“I appreciate and understand all your concerns. I hear you that you are not in agreement with everything we are trying to do. We are looking only at a forward basis and will protect what has been done in the past. We are listening to the impacts and unintended consequences and are taking notes. Encouraging businesses to invest and working in a fair tax system. ” – Bill Morneau.

“We want to get this right for this and the next generations and have a positive impact on our economy and country going forward.” – Bill Morneau.

“I thought this was going to be a Town Hall where we would like Bill Morneau answer questions, all the audience is complaining.” – Speaker

“Why don’t we let the Minister speak, we all had our opportunities to talk. Please let him speak” – Speakers

“Real Estate is going to take a dive in this country, multiple properties and a massive correction. As a result we (small business) needs more money to grow the economy” – Speaker

“Tax loop holes and tax avoidance are a legitimate goal” – Speaker

“As a doctor in Ontario, I pay 30% of my income to tax, this is too much and doctors won’t open clinics anymore because (30% tax) is too high.” – Speaker

Overall, the audience was looking to blame rather than understand, even rudely interrupting the Minister when he answered. They were looking to hang Bill Morneau based on their own “wants and needs” rather than ask a question. The doctors speaking where fear-mongering saying they will all leave unless they get more.

Very few speakers came to understand rather than blame or look out for the “greater good”.

This is unfortunately the taka-a-way Mr. Morneau will have.

That’s political life and the consequence of abruptly changing the rules by which people law-abiding citizens have structured their lives. Suck it up. — Garth

#160 Ian on 09.29.17 at 9:44 am

Just saw everyone’s favourite advisor / adviser on CP24 just now, Patricia Lovett-Reid. She said two interesting things:

1) ‘Bank of Canada is not likely to raise rates in October as things are too uncertain’

LMAO

2) ‘Seymour Schulich wrote Bill Morneau and told him that if he puts his tax plan through it would be ‘political suicide”

Almost tempted to say…but not quite…please go ahead then!!

#161 Jon on 09.29.17 at 9:46 am

I feel genuinely bad for the small business owners who will be burnt by these new tax rules. The ones who are doing alright, but not amazing really deserve our sympathy.

But what about the wealthy doctors and small business owners who are pulling in hundreds of thousands a year? Is it really fair to allow them a nice tax incentive to invest within their corporations? Besides fairness, is it really good for society to have wealth inequality in general? I have not seen a study that says wealth inequality is good for a country. If it were, we’d all be trying to emulate Nigeria.

I’d really like to know how many very well off people will be burnt, and how many just doing alright will be burnt. Until then, assuming it will be net negative for society is just that – an assumption.

#162 Dolce Vita on 09.29.17 at 9:46 am

#147 Ian

Glad to read I am not the only one wondering the same thing, thank you for that Ian.

__________________________

Actually, I have an Excel model that calculates Mortgage payments, accrual etc. – used to teach Diploma and Degree students how to create their own model for Cdn. Mortgage calculations (see SMOKING MAN, not all of us that were in Academia were useless Commie tits).

I just modified it to make Stress Test calculations and how, using Goal Seek, a user can determine their maximum mortgage amount if they fail either the GDS or TDS thresholds (you alerted to this by nasty light red highlighted cells, when it happens) – of course, most men are red green color blind so I often wonder if this is of any use.

If you know of place to post it for easy download, let me know.

It assumes you have some working knowledge of Excel but for the most part, put something in the light green highlighted cells (inputs) and I calculate everything else for you.

Goal Seek you have to do on your own, but I provide directions, easy to do, all of 4 steps incl. selecting it from the menu.

__________________________

At the end of the day, everyone’s debt situation is different and making some 18% lower buying power pronouncement is rich to say the least and if you ask me, stupid.

Unless the person stating that number has surveyed 100’s of customer financials, crunched the numbers en masse and concluded 18% from that, then fine – but highly unlikely.

And no Garth, no manner of eyeballing will give you some precise number like 18%, maybe a range perhaps, but not 18% or about 18%, etc. – think your unicorn image.

#163 Citizen on 09.29.17 at 9:58 am

TOWN HALL:

The Town hall gave Morneau his lashing ; he responded with his stuck up boyish grin (inside voice : Morneau Shephell is going to win big :) )

Grabbed some NDP votes holding it at a Union Hall, Billy boy it’s going to be great!!! perfect optics having the reserved rows for the union folks, not to mention the baby on stage.

Tim Ceznick was Golden! Answer the question:
WHAT ABOUT YOUR CONFLICT OF INTEREST?

Alexander Kluv – IT dude was the best!
Billy Boy ” The Minister of Fairness”

#164 Dolce Vita on 09.29.17 at 10:05 am

#147 Ian

Here is a sample calc. I made to show the 18% is a bit apocalyptic:

INPUTS

Principal $400K
Nominal Rate 3% (what the Bank advertises, and yes, I convert it to Effective later in the calcs.)
Amortiz. 25 yrs
Pay. Freq. monthly
Gross Inc. $100 K
Heating $250/mo
Condo Fees $350/mo
Credit Cards $120/mo
Vehicle $230/mo
Loans $0
Threshold GDS 32% used CMHC number for this example
Threshold TDS 40% used CMHC number for this example
Stress Test Rate +2% nominal rate

OUTPUTS (just the one’s that matter, more provided in the Model)

Effective Rate + 2% Stress Test 4.95%/year
Periodic Stress Test Rate 0.41%/month (because Cdn. mortg. are comp. semi-annually; therefore, have to convert the rate for the payment frequency, in this example, per month)

Stress Test GDS 32.4% FAIL
Stress Test TDS 40.8% FAIL
Stress Test Payment $2,326.42
Payment at nominal rate $1,892.98

Using Goal Seek, max. mortgage amount per the above inputs (i.e., to equal max. GDS or TDS, in this example TDS was the deal breaker):

$389,139

Thus, a 2.7% drop in purchasing power. And PLEASE DO NOT bug me about my inputs assumptions, close enough for Government work. If you do not like it, create your own Model from scratch.

Why I think 18% is a bit rich.

Now run the numbers with the correct median household income in Canada: $76,000. — Garth

#165 KLNR on 09.29.17 at 10:19 am

#119 Pete on 09.28.17 at 11:17 pm

the woman/toronto haters are out in full force on here.
losers

#166 Victor V on 09.29.17 at 10:20 am

Tax plan ‘makes no sense’: Brett Wilson echoes Schulich’s criticism

http://www.bnn.ca/tax-plan-makes-no-sense-brett-wilson-echoes-schulich-s-criticism-1.870723

#167 Victor V on 09.29.17 at 10:21 am

Trump’s tax bombshell is going to blow up Canada’s competitiveness — Jack Mintz: If these U.S. tax rates happen, Canada will be distinctly offside, especially when it comes to retaining entrepreneurs

http://business.financialpost.com/opinion/jack-mintz-trumps-tax-bombshell-is-going-to-blow-up-canadas-competitiveness

#168 Calamity Jane on 09.29.17 at 10:28 am

I know you’ve covered the spousal income splitting and holding profits in a company under the new “proposed” tax changes, but what of transitioning a family business?

https://www.linkedin.com/pulse/great-tax-debate-incentive-sell-your-family-business-michael-2/

https://beta.theglobeandmail.com/news/politics/critics-of-liberals-proposed-tax-change-zero-in-on-succession-planning-impacts/article36405651/?ref=http://www.theglobeandmail.com&

There is a lot of money being held in retained earnings by corporations, and for good reason – they save and then invest to continue growing and, you know, providing employment. But the government wants that money out and taxed at a higher rate NOW. Anybody know of any reports on how much the government stands to gain from the retained earnings being forced out and taxed at higher than the rate already paid?

How long until they decide YOU have too much saved in your own personal account and are subject to an additional tax for your “non productive” assets… yeesh.

#169 The Technical Analyst, CSTA, CPD on 09.29.17 at 10:33 am

#105 Blog dog for truth on 09.28.17 at 10:21 pm
re: #8 (The Technical Analyst, CSTA, CPD) –

You make some good points, but 500 doctors in Ontario is not a small ground to be marginalized. You pointed out 77,000 docs, but that is across Canada and purposefully makes the 500 in Ontario look smaller.

So I’m not sure about your handle “Blog dog for truth”, you are definitely on one side of the coin (being a doctor) though so naturally your voice is a biased one here. I am not a doctor like you but own a large business in Ontario.

Canada has a lot of great things to offer, but they cost and that cost is tax. “Fairness” has nothing to do with it, what is “fair” for you is not “fair” for another.

You may have a crappy 10 year old car, but that’s more than a Cuban doctor has with the same education. In fact, the Cuban doctor may have more education but can’t afford to eat.

So maybe we need to ship your 10 year old car over and trade it for their 1957 Chevy as that’s fair?

#170 Tater on 09.29.17 at 10:55 am

DELETED

#171 nam_416 on 09.29.17 at 11:01 am

Why telling people to rent rather than buy is bad advice (G&M)

https://beta.theglobeandmail.com/report-on-business/rob-magazine/why-telling-people-to-rent-rather-than-buy-is-bad-advice/article36421582/

People should buy if they can afford it and buying maintains financial balance in their lives. If not, rent. This column is based on one person in a bubble city. Junk journalism. — Garth

#172 Ian on 09.29.17 at 11:08 am

US Fed news!! Kevin Warsh’s name goes to top of list!

Here’s where it gets REALLY interesting…he is known as a hawk, not a dove. Wow wow wow. So if he’s in he would continue the rate rises. I was really expecting someone dovish.

Not decided who it is yet of course.

https://www.cnbc.com/2017/09/29/trump-met-with-kevin-warsh-to-discuss-fed-chair-job-wsj-citing-white-house-official.html

#173 JRT on 09.29.17 at 11:15 am

I don’t know how you find the time to write a new post nearly everyday, but don’t stop.

Here is an article from the US, but is relevant to Canada and other western countries.

http://thenewcenturyman.com/the-great-american-con-homeownership/

I remember Global TV in the 90s. Vancouver news mostly about real estate. Fake news and lots of adverts and highly paid script writers. When the internet came, people switched to better alternatives,the stock price of Global was junk bond status. Shaw Cable bought them out and let go people like Deb Hope, Tony Parsons, etc. when their contracts ran out.

#174 Pete on 09.29.17 at 11:21 am

#164 Victor V on 09.29.17 at 10:20 am
Tax plan ‘makes no sense’: Brett Wilson echoes Schulich’s criticism

http://www.bnn.ca/tax-plan-makes-no-sense-brett-wilson-echoes-schulich-s-criticism-1.870723

The more these guys cry and make it seem the working person has it so much better leads me to believe the tax is fair. The working person is a slave for the owners of small business. Why do you think people are starting their own business? Everyone wants to make all the money and pay little taxes. I hear people with small businesses brag at how much they made and the little taxes they paid.

So start a business, if it’s so easy and lucrative. What’s stopping you? — Garth

#175 Pete on 09.29.17 at 11:27 am

#163 KLNR on 09.29.17 at 10:19 am
#119 Pete on 09.28.17 at 11:17 pm

the woman/toronto haters are out in full force on here.
losers

Look how miserable you sound. Go travel. Goto Montreal and see the difference. Its not that far. Toronto is so miserable its funny. Walk around toronto and just observe. Sometimes I just smile and chuckle to myself as I look around at the miserable faces of toronto. Its not just the women who look miserable its also the guys. Its a Toronto things.

#176 fancy_pants on 09.29.17 at 11:40 am

2.62% looking pretty good now… 3.2 years to go on that so selecting the fixed may have saved me $ after all (historically 9 times out of 10 it does not). And I don’t care what rates are in 3 years, I’ll weigh it out and just pay it off at the end of the term if desired.
ta ta

#177 HaHaHa on 09.29.17 at 11:43 am

Glad you geniuses all voted Liberal now? Oh yea Harper was evil, boring etc. Now it is todays intelligent youth to learn the Trudeau lesson some of us older folks discovered in our youth. I am old and tired of this Liberal crap and wake up every day knowing that Pierre Elliot is dead. Too bad he was allowed to spawn. Well done Canada

#178 oncebitten on 09.29.17 at 11:51 am

#169 nam 416

Why telling people to rent rather than buy is bad advice (G&M)

https://beta.theglobeandmail.com/report-on-business/rob-magazine/why-telling-people-to-rent-rather-than-buy-is-bad-advice/article36421582/

People should buy if they can afford it and buying maintains financial balance in their lives. If not, rent. This column is based on one person in a bubble city. Junk journalism. — Garth

___

This guy was eviscerated in the comments

#179 IHCTD9 on 09.29.17 at 11:55 am

So maybe we need to ship your 10 year old car over and trade it for their 1957 Chevy as that’s fair?
_____________________________

I’d trade my old car for their southern ’57 Chevy any day! ANY TIME AT ALL!!

I’ll trade for all the Doc’s buddies’ ’57 Chevy’s too!!

Oh yeah, that’s fair Baby!!

Anyone with a freaking brain would do that trade!

#180 Ian on 09.29.17 at 11:55 am

#162 Dolce

That is a great start! I would love to see that spreadsheet, Garth has my email so you can write him and get my email. Well done.

I agree that typing in lower figures like 76 for pretax income would be better than 100.

I can’t believe there hasn’t been more analysis like this in the press. This is absolutely huge. A monster, like Peter Frampton Comes Alive!

#181 #MoneybagsMorneau on 09.29.17 at 11:56 am

Were #1 !!!

http://business.financialpost.com/real-estate/rbc-says-housing-affordability-measure-worst-since-1990-toronto-hits-poorest-level-ever

#182 fancy_pants on 09.29.17 at 11:59 am

the media isn’t all that is bought. So are the puppets they call politicians. doesn’t matter which party really. The reason trump gets so much heat from the media is he can’t be bought by team sinister. for the first time in like forever they don’t have a puppet dancing for the 1%. lots of resistance from the big $. media working O/T to fool the sheeple. lots of them.

#183 Minister of Fairness on 09.29.17 at 12:05 pm

People who grew up under Communism see through the ideological bullshit of Canadian politics like no “native Canadians”.

#184 Tazi Bnu on 09.29.17 at 12:08 pm

#166 Calamity Jane on 09.29.17 at 10:28 am
I know you’ve covered the spousal income splitting and holding profits in a company under the new “proposed” tax changes, but what of transitioning a family business?

https://www.linkedin.com/pulse/great-tax-debate-incentive-sell-your-family-business-michael-2/

https://beta.theglobeandmail.com/news/politics/critics-of-liberals-proposed-tax-change-zero-in-on-succession-planning-impacts/article36405651/?ref=http://www.theglobeandmail.com&

There is a lot of money being held in retained earnings by corporations, and for good reason – they save and then invest to continue growing and, you know, providing employment. But the government wants that money out and taxed at a higher rate NOW. Anybody know of any reports on how much the government stands to gain from the retained earnings being forced out and taxed at higher than the rate already paid?

How long until they decide YOU have too much saved in your own personal account and are subject to an additional tax for your “non productive” assets… yeesh.
___________________________________________

I’m wondering what the effect on the Canadian markets will be when these investment accounts get liquidated to be put towards more “active” investing? What would be the most common “active” investment for CCPCs? Could it be commercial office real estate? I think money could be made anticipating this one time flow of money, if the magnitude is great enough. I guess we’ll have to wait to see what the results of the “consultation period” are, to know for sure.

#185 aa3 on 09.29.17 at 12:09 pm

In Canada when you add up Municipal, Provincial and Federal government expenditures, it amounts to 45% of Canada’s GDP.

For the average Canadian, 45 cents on every dollar they earn is taxed. People focus on the income tax but in fact this is only 1 of the taxes.

Does any non-ideological person believe that if they get up to 50% of GDP, that they will be satiated?

#186 SimplyPut7 on 09.29.17 at 12:11 pm

#56 Mayor of Milton on 09.28.17 at 8:13 pm
#119 Pete on 09.28.17 at 11:17 pm

Women in Toronto don’t smile because some men are creeps, if they are not trying to touch you, they are saying something dirty to you. And the nice guys have to unfortunately be lumped in with the creepy guys for women to be safe in Toronto; especially at night in winter when it starts to gets dark in the city by 4:30pm. So no talking, no smiling keep your head down and don’t make eye contact.

https://www.thestar.com/news/gta/transportation/2017/09/06/ttc-launches-anti-harassment-campaign-app.html

#187 Dissident on 09.29.17 at 12:18 pm

Yes, exactly. #173 Pete on 09.29.17 at 11:27 am

[ #163 KLNR on 09.29.17 at 10:19 am
#119 Pete on 09.28.17 at 11:17 pm

the woman/toronto haters are out in full force on here.
losers

Look how miserable you sound. ]

In the spirit of democratic equality, could this blog kindly extend its zero tolerance for racism policy towards misogyny? I know its mostly old white men on here, but might doesn’t make right. Next thing you know, they’ll be picking on gay people and immigrants. It would be a bit hypocritical to delete racist remarks but allow misogynistic remarks like this. Yes, they are the same thing. Both are hate speech. Please consider it.

#188 Triplenet on 09.29.17 at 12:19 pm

#160 Dolce Vita

Reinventing the wheel is a systemic bureaucratic exercise…..
The Six Functions of One Dollar – you can buy it, rent it or download it and then memorize it. If your students need more coaching, they are not ready to learn finance. Especially real estate finance.

#189 Moroneau Roasted at Town Hall on 09.29.17 at 12:24 pm

http://www.ctvnews.ca/politics/bill-morneau-s-town-hall-meeting-on-small-business-tax-changes-turns-heated-1.3612260

#190 morrey on 09.29.17 at 12:41 pm

re: #171 JRT Owning your own home is the cat’s pyjamas! You control your life. Stop living in dank basement suites paying off someone else’s mortgage! Two sons bought townhouse 5,3, years ago, they are smiling with kids of their own and mucho equity. their mortgage payments are less what their friends pay in Rent . Go figure …

#191 T on 09.29.17 at 12:50 pm

https://beta.theglobeandmail.com/report-on-business/rob-magazine/why-telling-people-to-rent-rather-than-buy-is-bad-advice/article36421582/?ref=https://www.theglobeandmail.com&service=mobile

Real estate fluff story at its finest.

At least some of the commenters get it.

#192 n1tro on 09.29.17 at 12:53 pm

#93 Long Branch Apprentice on 09.28.17 at 9:51 pm
#87 Screwed Canadian Millennial

If you’re so sure on CAD going to par, make a Forex bet. If you don’t know how, ask Smoking Man. I’ve met him in person and lived to tell about it.
—————————
SCM will short the USD bigly. As soon as Kathleen Wynn’s $15/hr kicks in. That’s like $3/hr extra of spending money!

#193 Reality 1 on 09.29.17 at 12:58 pm

to # 162 Dolce Vita

With all due respect, where do you get these numbers as inputs?

for example : vehicle $230.00 / month ?

Where do you pay for
1) car payment
2) insurance
3) fuel
4) parking
5) maintenance
6) car licencing and fees
7) depreciation

on 230.00 / month?

According to CAA’s figures last available for 2013, the average cost annually to operate a the cheapest COMPACT CAR was approximately 9,500.00. (see their website)

That is 791.67 / month.
After tax.

Canadians spend much more on operating their cars than they do on groceries on average.

It just amazes me that people try to model finances using way incorrect inputs and then can’t figure out the real world disparity.

#194 RentYVR on 09.29.17 at 1:02 pm

“But it’s unconscionable that media would censor. Even this blog doesn’t stoop that low.”

LMFAO. You delete any post that points out your poor track record on housing, interest rates, elections, etc. And I’ve not once made any derogatory comment so don’t hide behind that. In fact, you’re probably going to delete this post too!

I should have added that dickheads are also deleted. Now you know. — Garth

#195 IHCTD9 on 09.29.17 at 1:09 pm

#173 Pete on 09.29.17 at 11:27 am

Look how miserable you sound. Go travel. Goto Montreal and see the difference. Its not that far. Toronto is so miserable its funny. Walk around toronto and just observe. Sometimes I just smile and chuckle to myself as I look around at the miserable faces of toronto. Its not just the women who look miserable its also the guys. Its a Toronto things.
________________________________________

Heh, I just had a vehicle for sale – it was cheap and needed work, worn right out, but it was newer and looked great still, also a popular model.

My phone and email was bombed out by folks not from my local small town area, but rather from the GTA. Some of them literally begging for me to hold the car while they found a way to get down to look at it. One guy actually freaked me out with his hysterical begging referencing his family and kids. Never seen anything like it, over 50 emails alone in 4 days for a POS vehicle.

Times must be tough out there.

#196 Reality 1 on 09.29.17 at 1:21 pm

to # 181 Minister of Fairness

Anybody with critical thinking ability can see through the ideological bullpoop of Canadian politics.

Unfortunately, this is a very small number in Canada.

The rest actually are socialists / soft communists in one manner or another.

I avoid talking to most Canadians when in Canada unless they are self made business people or if I can quickly detect they possess critical thinking abilities and a modicum of objectivity.

In most cases, the conversations are short and weather related. They are generally too unaware to carry on a cogent discussion.

#197 crowdedelevatorfartz on 09.29.17 at 1:24 pm

@#185 Dissident dissenter

“In the spirit of democratic equality, could this blog kindly extend its zero tolerance for racism policy towards misogyny? I know its mostly old white men on here, but might doesn’t make right.”

You’re an old white man?
Huh.
And here I thought you were a young female University indoctrinated misandrist propagandist with delusions of grandeur….who knew.

#198 Reality 1 on 09.29.17 at 1:30 pm

to # 188 morrey

What has home indebtedness got to do with controlling one’s life?

What a silly statement.

Arguably , they have less control of their life if they are indebted in any fashion.

#199 Where's The Money Guido? on 09.29.17 at 1:38 pm

I guess Chinese money IS influencing the RE market in Vancouver. The difference is that it is drug money…
Now we know why Christy Clark spent all that time in China, and why Rich Coleman dissolved the Investigation Unit of BC Casinos.
BC is a criminal enterprise and it would have not been found out if the BC Liberals won the last election.
Clark and Coleman should both be pounding bricks!
http://vancouversun.com/news/national/exclusive-how-b-c-casinos-are-used-to-launder-millions-in-drug-cash

#200 Reality 1 on 09.29.17 at 1:44 pm

to # 184 SimplyPut7

What a warped view of life you have.

I guess your social life is nil given your paranoid outlook.

Hope you never have need of a strangers’ assistance.

#201 n1tro on 09.29.17 at 1:48 pm

#167 The Technical Analyst, CSTA, CPD on 09.29.17 at 10:33 am
#105 Blog dog for truth on 09.28.17 at 10:21 pm
re: #8 (The Technical Analyst, CSTA, CPD) –

—————————-
What exactly is your point? 500 out of 77,000 is a small number no matter how you slice it. By not stating the denominator, 500 by itself is made to look like a lot. You are not a doctor but a large business owner does not mean you are not biased yourself. And why are you comparing anything to what was said to Cuba?

#202 Where's The Money Guido? on 09.29.17 at 1:49 pm

Re: #197 Where’s The Money Guido? on 09.29.17 at 1:38 pm
http://vancouversun.com/news/national/exclusive-how-b-c-casinos-are-used-to-launder-millions-in-drug-cash

Watch the video and you can see at 14 seconds that a TD Wealth office is right beside this criminal entity in the same building.
How convenient! Time to investigate them also!

#203 Ian on 09.29.17 at 1:54 pm

Morneau / Minister of Fairness positively ROASTED at town hall this am! I love it. Can’t wait for Sunday at 1pm outside his office, we will give him dose #2.

Karina Gould present to ‘maintain calm’. Guaranteed her mind was going “could someone remind me why I went into politics again?” the whole meeting.

Love it!

#204 Reality 1 on 09.29.17 at 2:07 pm

to # 195 crowdedelevatorfartz

funny !
great put down

#205 n1tro on 09.29.17 at 2:20 pm

#185 Dissident on 09.29.17 at 12:18 pm
Yes, exactly. #173 Pete on 09.29.17 at 11:27 am

[ #163 KLNR on 09.29.17 at 10:19 am
#119 Pete on 09.28.17 at 11:17 pm

In the spirit of democratic equality, could this blog kindly extend its zero tolerance for racism policy towards misogyny? I know its mostly old white men on here, but might doesn’t make right. Next thing you know, they’ll be picking on gay people and immigrants. It would be a bit hypocritical to delete racist remarks but allow misogynistic remarks like this. Yes, they are the same thing. Both are hate speech. Please consider it.
——————————
What the F*** does “democratic equality” mean? Are we talking voting rights for women and minorities?? Or are you referring to freedom of speech? Because if it is the latter, then all comments whether they offend your delicate feelings should be allowed. I think I know what you really want and that is the suppression of speech you don’t think are politically correct. Got it.

“I know its mostly old white men on here…” – Stereotype much?

“Next thing you know, they’ll be picking on gay people and immigrants.” – Done and done already. The difference is that it wasn’t the people being dissected but the silly…I mean “progressive” policies being forced on others.

“It would be a bit hypocritical to delete racist remarks but allow misogynistic remarks like this. Yes, they are the same thing. Both are hate speech. ”

– Typical, can’t even commit to a cause. It is either hypocritical or or it isn’t. Especially if you follow the statement saying racist remarks are the same as misogynistic remarks and being “hate speech”. I’d bet BLM would see things differently.

Garth’s blog, Garth’s rules. Don’t like it, find a safe space.

#206 Where's The Money Guido? on 09.29.17 at 2:28 pm

Re:
#139 Jean on 09.29.17 at 7:15 am
Does anyone know if this sort of restriction exists in Canada? I.e. if you rent out a room / whole apartment on AirBnb, do you need to let your lender know (and therefore possibly pay higher rates)? And if you don’t tell them you might be in violation of loan terms and have it immediately called? Maybe an issue in some big Canadian cities? Just curious…

http://www.telegraph.co.uk/personal-banking/mortgages/shock-threat-airbnb-hosts-mortgage-lenders-say-breach-contract/

My mortgages had strict clauses that prohibit any business in residence, mortgage will be cancelled and sued.
So I would tread carefully if you’re thinking of it, and re-read your mortgage terms.

#207 Blobby on 09.29.17 at 2:29 pm

I shake my head in despair when trump goes on about fake news.. on any news story which shows him in a bad light..

But then I see articles like this in Canada, which are so incredibly biased towards home buying, it’s scary.. i wonder if the article writer is currently desperately trying to Sell?

https://beta.theglobeandmail.com/report-on-business/rob-magazine/why-telling-people-to-rent-rather-than-buy-is-bad-advice/article36421582/?ref=https://www.theglobeandmail.com&

#208 bdwy sktrn on 09.29.17 at 2:29 pm

The construction industry is booming across British Columbia and while a record-breaking number of projects are underway, there is a growing shortage of skilled workers to do them.

Close to a third of a trillion dollars worth of construction projects are on the books and about $75 billion of those are currently underway in the province.
cbc

#209 rainfall on 09.29.17 at 2:32 pm

So start a business, if it’s so easy and lucrative. What’s stopping you? — Garth

===

That brings up the old question: are entrepreneurs born or made?

#210 Minister of Fairness on 09.29.17 at 2:44 pm

#194 Reality 1 on 09.29.17 at 1:21 pm

to # 181 Minister of Fairness

Anybody with critical thinking ability can see through the ideological bullpoop of Canadian politics.

Unfortunately, this is a very small number in Canada.

The rest actually are socialists / soft communists in one manner or another.

I avoid talking to most Canadians when in Canada unless they are self made business people or if I can quickly detect they possess critical thinking abilities and a modicum of objectivity.

In most cases, the conversations are short and weather related. They are generally too unaware to carry on a cogent discussion.

—–

What else is expected?

Listen to professor Jordan Peterson from 29:43.

“This video is primarily centered upon an interview with Dr. Carmen Branje, a very brave and forthright adjunct professor at Ryerson University in Toronto. He was asked (required) to provide 8 hours for a student who requested “accommodation” for an exam whose duration was, for all other students, two hours. He refused, as he believed it would compromise not only his but the university’s academic integrity, and chose instead to suffer the consequences (which will include whatever occurs because of this video).”

https://www.youtube.com/watch?v=q0k-BPI2IQA

#211 WUL on 09.29.17 at 3:01 pm

We often hear about the difficulties older people (55+ or 60+) encounter in landing employment opportunities when they find themselves out of a job. Perhaps it is because they interview like this old fellow:

HR Manager – “What is your greatest weakness?”

Old Man – “Honesty!”

HR Manager – “I don’t think honesty is a weakness.”

Old Man – “I don’t give a shit what you think….”

#212 Victor V on 09.29.17 at 3:17 pm

Why the ‘worst may be yet to come’ for Toronto housing

http://www.bnn.ca/why-the-worst-may-be-yet-to-come-for-toronto-housing-1.870952

Toronto’s housing market failed to stage the September comeback the real estate industry was hoping for, and a prominent mortgage industry expert is warning the “worst may be yet to come.”

After a sharp pullback in sales and average prices in the wake of Ontario moving to cool the market, realtors were counting on the so-called back-to-school buyer to emerge and set the tone for the fall.

“The market didn’t come back the way the industry was hoping it would,” Lauren Haw, CEO of Zoocasa, told BNN in an email. “We typically see a major increase in volumes during the fall market.”

September’s sale volumes, up to the 27th of the month, plunged between 38 to 45 per cent depending on home and location, according to Zoocasa’s data.

#213 crowdedelevatorfartz on 09.29.17 at 3:34 pm

http://vancouversun.com/news/national/exclusive-how-b-c-casinos-are-used-to-launder-millions-in-drug-cash

ANYONE with half a brain( sorry “Dissent” yer not included in this discussion) has been able to recognize there has been some serious, serious issues with the run up in foreign ownership and housing in the Lower main land that don’t pass the “smell test”.
Foreign owners not negotiating price, paying CASH for $1 million+ houses, and on and on and on.
We can be as politically correct as we want to but when $500,000,000.00 in cash is laundered through BC Casinos over a decade……something aint right.

Try taking several thousand in $20’s into a bank to deposit and see what happens.
But taking several million dollars into a casino is ok.
Fentynal drug dealers take note.

#214 Damifino on 09.29.17 at 3:44 pm

#206 bdwy sktrn

The construction industry is booming across British Columbia and while a record-breaking number of projects are underway
————————————

A short drive anywhere in YVR shows anyone that’s true. The drive will be short in distance, but not in time. You will be hung up by road blockages every kilometre.

I used to lament: “When will Canada return to making goods in demand by the rest of the world?”

I couldn’t see the forest for the trees. In Vancouver we are ‘manufacturing’ condos by the tens of thousands to meet what seems to be a robust, world-wide demand.

#215 AGuyInVancouver on 09.29.17 at 3:53 pm

Seems like the blue rinse set is intent in setting their hair on fire over the tax changes. Maybe the Liberals should reach into the Harpercrite handbook and spend massive amounts of money on advertising to sell their policies.

‘Blue rinse’? Geez, you must be old. — Garth

#216 Dissident on 09.29.17 at 3:56 pm

#203 n1tro on 09.29.17 at 2:20 pm

RE:
“– Typical, can’t even commit to a cause. It is either hypocritical or or it isn’t.”
[This makes zero sense].

“Especially if you follow the statement saying racist remarks are the same as misogynistic remarks and being “hate speech”. I’d bet BLM would see things differently.”
[All hate speech is hate speech. There isn’t one kind that gets a gold medal and the rest get silver and bronze. Ever asked a black woman how she feels about being black, and a woman? That’s called “intersectionality”. Look it up.].

No, I’m pretty sure us “others” would feel that racism, misogyny and gay-hatred are all pretty bad. If Garth can delete racist slurs then he can surely find it in his heart to delete misogynistic slurs and anti-gay remarks.

The fact that you are even trying to argue that one form of hatred is better than the other means you’ve already lost this argument. That’s one crucial point that seems to escape your feeble mind. Zero tolerance for hate means zero tolerance for hate in all its forms. Not just one form.

Lt. Gen. Jay Silveria, Superintendent of the US Air Force Academy, gets this:

“‘Get out!’: Lt General rains hell on Air Force Academy after racist messages were left on black cadets’ rooms” – Sept 29th

“So just in case you’re unclear on where I stand on this topic, I’m going to leave you with my most important thought today,” he said. “If you can’t treat someone with dignity and respect, then you need to get out. If you can’t treat someone from another gender, whether that’s a man or a woman, with dignity and respect, then you need to get out. If you demean someone in any way, then you need to get out. And if you can’t treat someone from another race, or a different color of skin, with dignity and respect, then you need to get out.”

https://www.rawstory.com/2017/09/get-out-lt-general-rains-hell-on-air-force-academy-after-racist-messages-were-left-on-black-cadets-rooms/

Notice, he recognizes all forms of discrimination, not just one. To recognize one form above all else would be hypocritical if you claim to be against hate speech or acts of hate towards minorities and the “other”. If you read workplace rules toward social conduct, you’ll see the same principles in effect.

So either we tolerate hate of minority races (i.e. Chinese dudes), women, and gays on this blog, or we don’t. There is no grey area.

And as we can see from the US’s handling of the NFL protests vs the White Supremacist marches, people, including yourself, are still really confused as to what constitutes “free speech” versus “hate speech”. The former harms no one. The latter does. Its really sad that I have to spell it out for you.

#217 SimplyPut7 on 09.29.17 at 4:03 pm

#198 Reality 1 on 09.29.17 at 1:44 pm

First, women in general make sure their cellphones are charged in case of emergencies. Most people would Google what they are looking for first before asking for help.

Second, I would prefer to ask someone at a local gas station, convenience store or Tim Hortons for directions. People walking around Toronto don’t know anything about the different areas outside of their work/school communities. Even some of the people who live downtown, only live and play in their neighbourhoods, they wouldn’t be helpful if you pass by them on the street and asked them about something outside of their area of expertise.

Last, we have lots of tourists and people new to the city who don’t know Torontonians aren’t really known for starting a conversation with strangers on the street outside of community engagements, religious, social and sport gatherings, or events with family and friends. If a stranger asks a question, most people in Toronto would try to help, but we don’t know every part of Toronto so we may not be as helpful as they think.

#218 Smoking Man on 09.29.17 at 4:06 pm

#103 Screwed Canadian Millenial on 09.28.17 at 10:19 pm
#83 Smoking Man on 09.28.17 at 9:27 pm

Lol Smokey something tells me if I invested $1000 maplebux with you, that would be the last time I ever saw that $1000.

Forex must be the name of your hooker LOL!

No safe space with me boomer. And those well paid Ontario teachers did no number on me, I always had a problem with authority.

Conservatives bow to authority and never question the system. Tax cuts for billionaires, that’s the conservative mantra.
…..

Starting to like you. In spite of the fact that you’re a troll. It’s the I give no shit attitude that I find refreshing

#219 Keith in Rio on 09.29.17 at 4:12 pm

Vietnam just sentenced a banker to death for a 35MM fraud.

Iceland threw a pile of them in jail.

Over here we let the FIRE industry lie, cheat, and steal aided and abbetted by “Presstitutes” and politicians.

Even Brasil has finally gotten it’s anti-corruption act together, and is throwing away the key on so many corrupt politicians and business people who are now in, or on the way, to prison. When 2MM people march on the street in just one neighborhood, of just one city, many of them holding placards asking for the military to take over the country people tend to act, because down here, certain elements of the police and army get the job done right on day one.

Canada needs a “reign of terror” to cleanse our society.

#220 Dissident on 09.29.17 at 4:15 pm

#203 n1tro on 09.29.17 at 2:20 pm

Since you probably are uneducated on the subject:

“Intersectionality is a concept often used in critical theories to describe the ways in which oppressive institutions (racism, sexism, homophobia, transphobia, ableism, xenophobia, classism, etc.) are interconnected and cannot be examined separately from one another.”

Henceforth, to wit, misogyny is absolutely on the same level as racism. It is equally as harmful.

You know what the difference is though? Misogyny doesn’t target a man. But racism could. And I think that’s why you seem to prioritize one over the other. You have a gender bias. Because you can empathize more with a minority male being targeted for being a minority than you can empathize with a woman (of any colour) being targeted for being a woman.

Put in general terms, you can empathize more with men targeted due to racism than you can with women targeted by misogyny.

#221 Link Foryou on 09.29.17 at 4:20 pm

http://pensionpulse.blogspot.com/2017/09/canadas-pension-overlords.html

#222 Mike on 09.29.17 at 4:27 pm

OSFI not happening. Friend of Friend of Taxi driver’s uncle told me.

Economy going down due to excessive debt and middle class($100-150k family income) stagnant wages.

Got to keep the housing bubble growing to pump economy.

#223 crowdedelevatorfartz on 09.29.17 at 4:39 pm

@ Dissent
“people, including yourself, are still really confused as to what constitutes “free speech” versus “hate speech”. The former harms no one. The latter does. Its really sad that I have to spell it out for you.”

+++++++

Does your plagiarized, boring, sleep inducing, pseudo intellectual drivel count as harmful speech?

I need a “safe space” because I disagree with your hateful insults to others.

#224 EB on 09.29.17 at 4:43 pm

“When I use a word,” Humpty Dumpty said in rather a scornful tone, “it means just what I choose it to mean — neither more nor less.”
“The question is,” said Alice, “whether you can make words mean so many different things.”
“The question is,” said Humpty Dumpty, “which is to be master – that’s all.”

Carroll nailed it in 1865. Today’s word is “hate” – so wonderfully flexible. All you have to do is claim offense and your counterpart is instantly speaking “hate”. And we all know what happens then.

#225 n1tro on 09.29.17 at 4:49 pm

#214 Dissident on 09.29.17 at 3:56 pm
#203 n1tro on 09.29.17 at 2:20 pm

RE:
“– Typical, can’t even commit to a cause. It is either hypocritical or or it isn’t.”
[This makes zero sense].
——————
It makes no sense to you because you don’t understand what I said and then infer/imply that I am justifying hate speech and that one is better than the other which I don’t. But go ahead and post with your “henceforth” and “to wit” to come off as “smart”.

For others who probably picked up on what I said, I was pointing out that you are making an absolute statement (hate speech is hate speech) while implying it is “sort of wrong” for not blocking it.

If hate speech is wrong, and all hate speech is the same, then it is also wrong to not block it. <— see the difference? If you are going to go SJW, go 100% and don't half ass it.

#226 John of Grant on 09.29.17 at 4:51 pm

#65 Screwed Canadian Millenial

Bill Clinton raised taxes on the rich, economy boomed, he balanced the budget.
————————————————————-

” …this myth is now a central part of liberal Democratic folklore, it is contradicted by the political disaster and poor economic results that followed the tax increase. ”

https://www.forbes.com/sites/charleskadlec/2012/07/16/the-dangerous-myth-about-the-bill-clinton-tax-increase/#4e3b423b6e8a

#227 Dissident on 09.29.17 at 4:55 pm

#203 n1tro on 09.29.17 at 2:20 pm

Sounds even better live. @3:40 What a leader. This guy needs to run for president. That speech itself is 100000000000% better than anything that ever came out of Trump’s hate-filled mouth.

A real leader doesn’t prioritize one form of hate over another, because they are all equally damaging, hence Silveria’s zero tolerance policy.

Maybe you’d like to discuss with him how you think there are exceptions to that rule. See how far you get with that.

http://www.cnn.com/videos/us/2017/09/29/jay-silveria-air-force-academy-cadets-full.youtube-usafaofficial

#228 45north on 09.29.17 at 4:55 pm

Bombardier:

I argue that the Federal Liberal Government should allow the C-Series to land at Toronto Island Airport.

The link has an interview. Larysa Harapin is interviewing Andrew Coyne. In the interview Coyne makes the point that aerospace companies are heavily subsidized by their national governments: Boeing, Airbus, Embraer, plus Russian and Chinese national airlines. He argues that Canada should not play the game – it’s too expensive.

what he doesn’t do is address how Canada will compete – buying and selling houses to each other – maybe?

Andrew Coyne: talking about the effort of designing and building Bombardier’s C-Series: the effort was always doomed.

http://nationalpost.com/opinion/andrew-coyne-time-to-bust-the-myth-canada-does-not-have-to-be-in-aerospace

The fight is not over: Two U.S. airlines have sided with Bombardier Inc. in its trade dispute with rival Boeing Company, urging the U.S. government to reject Boeing’s complaint, calling it inappropriate and harmful to American consumers.  

http://ottawacitizen.com/transportation/u-s-airlines-throw-support-behind-bombardier-in-boeing-trade-dispute/wcm/bc388e2a-ffde-447f-8b8b-7336b82bc1be

Washington aeronautics consultant Richard Aboulafia says Boeing is making a grave error.

http://www.cbc.ca/news/politics/canada-boeing-embassy-washington-1.4311054

Quebec Premier Philippe Couillard visited workers at the CSeries assembly plant in Mirabel on Thursday to convey his government’s support of the aircraft program against Boeing’s petition.
“It’s an unacceptable attack towards an industry, a province and a country and we shall prevail. What’s happening now goes much beyond Bombardier,”

http://www.news1130.com/2017/09/28/bombardier-wont-be-shocked-by-another-high-cseries-duty-next-week/

Bombardier also has a plant in Toronto which makes the C-Series:

http://www.torontosun.com/2017/09/20/bombardier-workers-in-toronto-to-walk-out-over-boeing-dispute

the fight is on. The Federal Liberal Government has committed billions of dollars towards Bombardier but what it hasn’t done is given its approval to allow the C-Series to land at Toronto Island Airport. This approval would boost the C-Series, Bombardier, Quebec and Toronto.

#229 Dissident on 09.29.17 at 5:04 pm

#221 crowdedelevatorfartz on 09.29.17 at 4:39 pm

“Does your plagiarized, boring, sleep inducing, pseudo intellectual drivel count as harmful speech?”

Lol, plagiarized? That’s all me. But thanks for feeling intellectually threatened by it. I’m flattered.

#230 n1tro on 09.29.17 at 5:07 pm

You know what the difference is though? Misogyny doesn’t target a man. But racism could. And I think that’s why you seem to prioritize one over the other. You have a gender bias. Because you can empathize more with a minority male being targeted for being a minority than you can empathize with a woman (of any colour) being targeted for being a woman.
———————————-
It isn’t misogyny to imply all Toronto women ugly as was in the original post. If anything it is a huge/incorrect generalization and any sane person reading the full context of it knows that the poster is making fun of Toronto and not women. But great job psychoanalyzing me though. Let me guess, this is your priority list of victims in this world…

lesbian minority> lesbian white> minority women> women> minority men >> white stuff that forms on the corners of people’s mouths>> dog turd>> herpes>>> old white men

Did I get that right?

—————————————
“I smell so bad and house the ugliest of women. I am Toronto.

I am filled with pollution and strange people who think they are so cool. I am Toronto!

A looser wanna be New York. . .filled to the rafters with more real estate agents then bed bugs. I am Toronto!

I attract the type of women, who no one wants to date. I am Toronto.

Please stop by sometime.”

#231 crowdedelevatorfartz on 09.29.17 at 5:12 pm

Dissenting Dissident

Just curious.
Do you watch Austin Powers movies?
The subtle double entendre’s are endless and quite thought provoking……

https://www.google.ca/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0ahUKEwiL79ugp8vWAhUSw2MKHRRdCTkQtwIIKDAA&url=https%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3DiYoXmnHjT4E&usg=AOvVaw1vDU4n6jmEbLAXwsIn71un

I just hope their not too far above your diminished intellectual capacity to grasp the multiple hidden meanings

#232 Blog dog for truth on 09.29.17 at 5:16 pm

# 167 – The Technical Analyst, CSTA, CPD on 09.29.17 at 10:33 am –
The (now 480 docs) who agree with the principle of the tax change proposal are from across the country. So doing the math for you 480/70000 = 0.69%. Please look it up.

Regarding your proposal to trade my 10 year old beater care for a 1957 chevy from Cuba (that has never seen salt) – absolutely – I’m in. Full agreement with #177 (IHCTD9) on that one. Further if this is an indicator of your business acumen…getting back to me selling you that vacation property in Barbuda…

#233 Dissident on 09.29.17 at 5:27 pm

#225 n1tro on 09.29.17 at 5:07 pm

“If anything it is a huge/incorrect generalization and any sane person reading the full context of it knows that the poster is making fun of Toronto and not women.”

Oh, so that’s how you read it, as a man, right? As a woman reader, I see that it targets women twice. And it sounds like the person writing this is a sad man who can’t get a date, and is now resorting to hating women who won’t go on a date with him, and then extending that to all women in Toronto. He would probably have the same point of view regardless of the city. There are plenty of Toronto men who don’t resort to hating women who happen to live in the same city as they do. And that’s because they have self esteem. Maybe its not them, its you.

Why don’t you try rewriting it and substituting the word “women” with “Chinese” or “Blacks”? Doesn’t sound so good, does it.

Disguising misogyny as a ridiculous poem doesn’t make it any better. It just shows how pathetic you are.

#234 crowdedelevatorfartz on 09.29.17 at 5:38 pm

@Dissident Plagiarizer

You came up with all those big words yourself?
Someone fibbing and its not me!
Todays University students/grads couldn’t spellcheck 4 continuous words without checking their Profs last lecture…..

I’m just curious. Wondering if you can help.

I’m sick of shaving my old white mans face.
If I want to change genders should I stop eating chicken BEFORE the Hormone treatments? Or after?

#235 NoName on 09.29.17 at 5:39 pm

#149 Gentle ,Loving Kindness on 09.29.17 at 8:34 am
#108 NoName on 09.28.17 at 10:28 pm
Hey gentle ,loving kindness whats up with BRZU.N ????

chcked chart for this one other day looking good, i’m wondering did you ever got those call?

It was a “Paper Trade” only. Options can get tricky 

—-

papaer trade mt @$$… forex is tricky options are good, here is options book that demystifys it.

https://www.amazon.ca/Options-as-Strategic-Investment-Fifth/dp/0735204659

#236 Dissident on 09.29.17 at 5:44 pm

#223 n1tro on 09.29.17 at 4:49 pm
#214 Dissident on 09.29.17 at 3:56 pm
#203 n1tro on 09.29.17 at 2:20 pm

“For others who probably picked up on what I said, I was pointing out that you are making an absolute statement (hate speech is hate speech) while implying it is “sort of wrong” for not blocking it.

If hate speech is wrong, and all hate speech is the same, then it is also wrong to not block it. <— see the difference? If you are going to go SJW, go 100% and don't half ass it."

——–

*blinks* …I think you are really confused. Yes…it is wrong to not block all forms of hate speech. If you claim to be against one form, then you should ideally be against all forms, don't "half-ass" it. That's precisely what I've been saying. What else do you need me to clarify?

#237 crowdedelevatorfartz on 09.29.17 at 5:46 pm

@ Dissenting Diatribe

The world is just SO unfair to…well…..everyone…..
Don’t you think?

https://www.google.ca/url?sa=t&rct=j&q=&esrc=s&source=web&cd=7&cad=rja&uact=8&ved=0ahUKEwiN8paDr8vWAhVV5GMKHbLWDMcQqOcBCGEwBg&url=https%3A%2F%2Fglobalnews.ca%2Fnews%2F3775914%2Fb-c-government-still-wants-male-or-female-designation-on-bc-health-card-and-drivers-licence%2F&usg=AOvVaw1TMpmJNT_z97EHMw-rvv4O

#238 Dissident on 09.29.17 at 5:49 pm

#232 crowdedelevatorfartz on 09.29.17 at 5:38 pm
@Dissident Plagiarizer

“You came up with all those big words yourself?
Someone fibbing and its not me!
Todays University students/grads couldn’t spellcheck 4 continuous words without checking their Profs last lecture…..”

Hahahahahahahaha. Jealous much? I graduated 11 years ago. So I’ve had plenty of time to perfect my wordsmithing on troglodytes like you. In addition to my first university degree, I also have a Bachelor of Education in English. I’ve had plenty of time to spell check students’ mangled spelling. Maybe you should try again, Mr. Troll. If that’s all you’ve got, then perhaps you should call it a day and crawl back into the cave from whence you came.

#239 Reality 1 on 09.29.17 at 5:52 pm

to # 215 SimlyPut7

…assistance as in if you were injured, suddenly ill, slipped and fell, dropped something with your hands full, fell off your bike – you know SOCIAL CONTRACT interaction type stuff.

Completely missed my point, beautifully illustrating my comments at # 194.

You live an anti-social life with paranoid delusions because you eat up the crap you read in the MSM.

#240 crowdedelevatorfartz on 09.29.17 at 5:53 pm

OMG
TWO ! Count em TWO Realtors received slaps on the wrist in ONE week!

There is a God.

https://traffic.outbrain.com/network/redir?p=mgtQbEiIpQw0gh8XKybL6hESj9bWfXM6tqPtQCfRnHIVjM7UgA2c-qJUMJJmp0vYJnNCoLfWWuR3RPdgD_Oo-OEdankKu-ksQbgcZf1hYdW06w_gbbcPUCJ0oTBinpOwUOKJzyNSeHBqylo-I55sOji_aETEgZaYVPLDjLSfvIvwE-N_CONHFBWCc485n7emjGNNqI2SsVHBxKkbvyWqmbFpzS9dl1iDV8t-t9E-Du5MZqiUORqF90g276yiq3Oqcrx7TiSaqHNxQUdknsBH6nJm2PSaS3HvDIih2h47VrwMPLqQRMyj8pwUcXrb7-q3l4m4Niu_UJ7ysxiVYzn0rgrtKGlwWD4TPjfp4tDc9rRj8XdWKH1F7uusq9pToi6uQfOr111JzjmB373BzIDhViZ-MYPnlOG1UhzMUhlnwkkneZ9NLy6MwII9xUoG2L8xGU2hEewVHvhWRGT9m0gaJrugnypdPYj8Ornmq_0tdXSywPZKGYLlsGci3cIHv94ZvPCizdVwNLFG0EekcxKjWgO21M92Y3v_795WbR_6u6YTca2TpKS4ERPhnju-dRwbb-e3Hwc-4DBfYG_LoR_qyMbZ7w3_34KRKMluVarRJCZ4T2hBSpBzNs3N8ZthuFQhP8Mi0c0QpjMyTchjtCHbD3DLlBdeYBdpR25XTbCuJNs-Yc1CjYH8C_1vjJQ-Wkk2EtlyCKFa-adm-TNf1F5q_9JMMhJlrUZW_yp-3oxZtzZJkEsq4euChRFDtPPF8ETdT3QHX_jIvhlbwCpwYVj3b2DOTUv1C3fNg2HU7L28rD_pwmLZuAhQi_yNvZTcMlrhxhjKQFWljjqfLwM_IdV2dzEcvSSNjiBOzrPcrLw6BzDXXadBHNHZ-DuIzvOOZhsd9YLqTKTfvOLdXYMSL5bG_A&c=a284a6ce&v=3

Now if only the fines were a punitive deterrent to the $10’s of thousands in commission they make on each sale…………..

I can dream cant I?

#241 Anothermillenial on 09.29.17 at 5:56 pm

Investing in TFSA or bonds or preferred shares? That sounds amazing. I purchased my first home 5 years ago and my lovely parents purchased half of it. We sold and they walked away with half of the equity as well. A great business decision and a brand new BMW later, they were happy. We moved on and purchased a home in Hamilton with our down (that first house = best decision ever). I work closer to TO and hubs works in the opposite side. Perfect. We have a 2 year old and every month we get to spend the amount of a week in an all inclusive resort on his daycare. $1200 later….good thing he’s cute because I could use some pina coladas right about now. Unless I can split a couple of pennies a month between TFSA, RRSP and bonds…this is the story of any life starters…my parents and their parents did the same thing… Also regarding the aggressive millennial post…. with a $170,000 right now…this is peanuts around here.

#242 AGuyInVancouver on 09.29.17 at 6:50 pm

‘Blue rinse’? Geez, you must be old. — Garth
_ _
Short hand..;)

#243 steerage steward on 09.29.17 at 11:23 pm

https://www.nytimes.com/2017/09/28/business/trump-trade.html

Nice URL ah?

Canada may present a tempting focus as Mr. Trump seeks to sate clamoring from his political base for an alteration of supposedly job-killing trading arrangements without imperiling other geopolitical interests.

#244 Gotta Get Out of Calgary on 09.29.17 at 11:39 pm

As Screwed Canadian Millenial posted on a previous blog (#17 Screwed Canadian Millenial on 09.19.17 at 6:06 pm):

Coffee and raging at boomers on obscure blogs are my biggest vices.

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

Let me guess — free WiFi at Starbucks.

#245 Oft deleted much maligned stock.picker on 09.30.17 at 12:59 am

#52 Chadfywack. Your brother is getting some very dangerous advice. If you list your property at a particular price ( in order to entice a budding war) you may be getting more than you bargained for…..an informed buyer. In law the price offered is termed “an invitation to treat” . YBy listing your house for sale…you have entered into a contract which any buyer who only has to satisfy by meeting your exact terms to complete with intent and specific performance with due consideration offered in form of deposit in trust. If the buyers gives you exactly what you asked you can not renege and say sorry …..I really just wanted to trick you into paying more…..that’s not how it works. That’s how contracts are designed…..asked and answered. In your brothers case his realtards is grossly uneducated in contract law….as are a majority of realtards…..be careful…..use a lawyer first for contract, realtards second for marketing.

#246 cached on 09.30.17 at 8:30 am

http://toronto.citynews.ca/2017/09/27/luxury-home-sales-toronto-government-measures-remax/

#247 Slim on 09.30.17 at 1:57 pm

Here is a link to a Change.org petition protesting the proposed tax changes. If anyone is interested add your name to the list.

https://www.change.org/p/justin-trudeau-be-alarmed-taxation-not-confiscation-1445ed42-dcf8-4636-ad82-26471f613b61