The truth

It’s taking longer to flog a house these days. There may be no truer indication of the state of a market, nor its intensity and direction, than DOM. The days-on-market number’s a crucial stat for any buyer. In it lies a clue as to whether or not the property is priced appropriately for the market, plus how motivated (or not) the seller may be.

According to the country’s largest real estate board, the DOM number has exploded – from a lowly 9 last year to 20 this spring. That’s a leap (it says) of 122%, certainly reflecting a market where sales have crashed more than a third and prices have fallen an average of 14% and by 30% in some suburban hoods.

But the reality – the truth – is far different. Far worse.

For example, the average DOM last month in Toronto was (say the realtors) 16 days. In the once-hot distant suburbs of Richmond Hill and Vaughan the number was slightly higher, at 24 and 25 days respectively. No coincidence that particleboard McMansions in these areas are depreciating by the month.

Unfortunately it’s all a lie. The DOM is a Frankenumber, like the manufactured and trend-concealing HPI (home price index). It’s a fabrication that the average homeowner in Vaughan, for example, can expect to offload a property in little more than three weeks, nor that prospective buyers need to act fast to snare it. That’s because the real estate board has purposely concealed from consumers any relistings, repricing, terminations or listing suspensions that occur. Thus, it’s a common tactic to relist a property after a few weeks, resetting the DOM clock to zero. Ditto for a price change. Or the termination of a listing for a day or two, replaced by an identical one.

Local broker John Pasalis knows better, because he sees it. In a recent Tweet he shared some of the tricks. The average DOM in Toronto is not 16, but 150% higher, at 40. In Richmond Hill, houses take 46 days to move, not 24. And in Vaughan the stat is 65, or 160% than the 25 reported in April.

For the past seven years GTA realtors have spent huge sums on lawyers fighting the federal Competition Commissioner for the right to conceal, manipulate, hide, protect and exclusively own sales and listings data. The board, TREB, has lost twice. But it fights on. Truth, is seems, might show the emperor has few clothes. That the market is inflated, dangerous and held together with gossamer strands of deceit. Maintaining the fiction of eternal demand and ever-rising prices is central to not only the board’s bloated membership but to the fact average families can no longer afford average homes.

Well, there is another way.

As mentioned Friday, I’m spending some time in NS these days, whacking away on my latest project. In this province real estate data is free, unfiltered, transparent and immediate – one reason among many why average houses cost a fraction of what they do elsewhere. The local realtors make all market statistics available and a couple of companies, like Viewpoint.ca, pipeline them directly to buyers and sellers. How refreshing. Sunshine.

Here’s a small example from Halifax, a city of 500,000 and the principal centre east of Quebec City. Somebody bought 5960 Campbell Drive in the scenic and desirable south end for $552,000 in August of 2016. That was $17,000 less than the list price for an unrenovated property that had been on the market for 120 days. Here’s how it looked when sold:

The house was gutted to the studs and renovated to a high standard with the obligatory granite, stainless, potlights and marble. New appliances, slipper tub, redone exterior, landscaping, wiring, plumbing and HVAC. Total job.

 

By the next September the place was done, and the property listed (in a hot market) for $1.115 million. Ooops. Wrong price. It sat there for 101 days, until the listing was terminated a week before Christmas. Shortly after the new year 5960 Campbell went back on, this time for $949,990. Oops. Still the wrong price. Three weeks ago the ask was reduced to $899,000, and now awaits an offer. The time since the initial listing in January is 128 days. And, you bet, this is a motivated seller. Maybe ripe for vultching what is essentially a brand new home in a demand hood.

How do I know all this? Simple. It’s published. Just like the sales and listing history of every other property in the province.

You might have absolutely no interest in moving to Halifax (most people never stray outside their comfort zone) but you have to envy the gift every buyer and seller there are given. It’s called the truth.

Not too much to ask for everywhere.

158 comments ↓

#1 Myra Andrews on 05.13.18 at 2:59 pm

Greater Vancouver Stats from realtor Paul Boenisch

May 11 New 183 Sold 132 TI 10935
May 10 New 229 Sold 126 TI 10957
May 9 New 309 Sold 172 TI 10914
May 8 New 318 Sold 117 TI 10835
May 7 New 389 Sold 131 TI 10697

May 4 New 191 Sold 110 TI 10540
May 3 New 213 Sold 103 TI 10503
May 2 New 268 Sold 146 TI 10481
May 1 New 363 Sold 134 TI 10420
Apr 30 New 375 Sold 163 TI 10459

April 16-27 New 2453 Sold 1224 TI 10,347
April 3-13 New 2111 Sold 916 TI 9727

Mar 19-29 New 1834 Sold 1072 TI 9032
Mar 5-16 New 2248 Sold 1224 TI 8743

The inventory at the end of February was 8211

#2 Time to pack my bags on 05.13.18 at 3:00 pm

Going to Halifax then!

#3 Myra Andrews on 05.13.18 at 3:01 pm

In over two months not a single day of over 200 sales

May 11 New 183 Sold 132 TI 10935
May 10 New 229 Sold 126 TI 10957
May 9 New 309 Sold 172 TI 10914
May 8 New 318 Sold 117 TI 10835
May 7 New 389 Sold 131 TI 10697

May 4 New 191 Sold 110 TI 10540
May 3 New 213 Sold 103 TI 10503
May 2 New 268 Sold 146 TI 10481
May 1 New 363 Sold 134 TI 10420
Apr 30 New 375 Sold 163 TI 10459

April 27 New 147 Sold 89 TI 10347
April 26 New 208 Sold 161 TI 10,332
April 25 New 239 Sold 123 TI 10,345
April 24 New 323 Sold 136 TI 10,299
April 23 New 385 Sold 145 TI 10,180

April 20 no post from Paul
April 19 New 211 Sold 133 TI 10,006
April 18 New 266 Sold 128 TI 9989
April 17 New 297 Sold 120 TI 9898
April 16 New 377 Sold 191 TI 9799

April 13 New 152 Sold 137 TI 9727
April 12 New 199 Sold 112 TI 9748
April 11 New 248 Sold 101 TI 9709
April 10 no post from Paul
April 9 New 382 Sold 117 TI 9450

April 6 no post from Paul
April 5 New 268 Sold 164 TI 9264
April 4 New 324 Sold 154 TI 9204
April 3 New 538 Sold 131 TI 9104

Mar 26-29 New 793 Sold 455 TI: 9032 (summary only)

March 23 New 123 Sold 110 TI: 8916
March 22 New 139 Sold 107 TI: 8944
March 21 New 193 Sold 138 TI: 8948
March 20 New 279 Sold 142 TI: 8931
March 19 New 307 Sold 120 TI: 8862

March 16 New 158 Sold 117 TI: 8743
March 15 New 154 Sold 127 TI: 8737
March 14 New 231 Sold 140 TI: 8749
March 13 New 277 Sold 159 TI: 8688
March 12 New 327 Sold 139 TI: 8642

March 9 New 139 Sold 91 TI: 8510
March 8 New 196 Sold 118 TI: 8496
March 7 New 204 Sold 99 TI: 8442
March 6 New 246 Sold 130 TI: 8372
March 5 New 316 Sold 104 TI: 8344

#4 Honey Dripper on 05.13.18 at 3:10 pm

yabbut, the stats are always skewed during rutting season.

#5 waiting on the westcoast on 05.13.18 at 3:10 pm

Happy Mother’s Day!

I cannot wait for a day where we can get stats like that. Zillow is so amazing when looking at US property.

Thankfully, there is a similar service in Vancouver… It’s called “For those about to Flop”.

#6 FOUR FINGERS WATSON on 05.13.18 at 3:12 pm

Nice looking barn. Where’s the house?

Why do I bother? – Garth

#7 Keith in Rio on 05.13.18 at 3:30 pm

Question for yah.

How long has this data been available and has it affected sales volume or pricing ?

Me thinks not……

#8 Stan Brooks on 05.13.18 at 3:32 pm

Lies, lies, more lies and lack of transparency in Canada?

So surprising indeed!

#9 Zapstrap on 05.13.18 at 3:45 pm

That just can’t be allowed in BC. My stars …

#10 A Yank in BC on 05.13.18 at 3:49 pm

Maybe the reason it hasn’t sold is because most people in Halifax have taste.

Miss the point much? – Garth

#11 Royal Male on 05.13.18 at 3:50 pm

“According to the country’s largest real estate board, the DOM number has exploded – from a lowly 9 last year to 22 this spring. That’s a leap of 122%”

How is this 122%.

Ask them. Their number. – Garth

#12 Stan Brooks on 05.13.18 at 4:06 pm

More lies:

https://ca.finance.yahoo.com/news/canada-apos-wireless-prices-justified-100033611.html

What kind of idiots can really believe a single word of that report?

TORONTO — Canadians like to complain about paying some of the world’s highest wireless prices, but a Montreal Economic Institute report says they should also acknowledge the cost of having some of the world’s most advanced networks.

“Yes, we pay more. But we get a lot more. That’s what I’d like people to take into consideration when they complain about their prices,” author Martin Masse said in an interview before the report’s publication on Tuesday.

Pay up sheeple. We own you.

#13 Stan Brooks on 05.13.18 at 4:08 pm

The Montreal Economic Institute, which takes an anti-regulatory stance, receives some funding from the telecommunications industry players but says it makes its choices independently.
=====================
Ya right.

#14 AA on 05.13.18 at 4:17 pm

Hey Garth,
Here’s something that somehow gets the history…takes around 3 days for the latest update.
https://housesigma.com/
It’s my go to app for housing

#15 For those about to flop... on 05.13.18 at 4:30 pm

Pink Pollen falling in Richmond.

Here is yet another one to help bust the oft quoted line that anyone who bought before Spring Fling 2016 is fine.

I have already showed losses from purchases in 2014 and 2015 but they will become more prevalent as the rollback continues to develop.

Even found some 2013 condo purchases in Richmond that got into trouble.

This Pink Project will probably start to die out in Spring/Summer 2019 as I have indicated before that b.c assessment has already started wiping some of the purchases from early 2016, and the 3 year window that they offer for recent sales history will slam on my Roman schnoz.

Anyway,back to this case.

Picked up for 1.18 in December 2015 they decided to bypass the assessment number and get real with their buy price and most likely try to work the crowd up 6/7% to cover the bulk of expenses.

Since I am doing a bit of reflecting in this post ,I’m pretty sure I have been stuck on four donations for Terry Fox Foundation for a while now ,maybe a couple of people can ring the bell on this Mothers Day.

Peace, Flop…

M43BC

Hollycroft Drive, Richmond paid 1.18 ass 1.37

Apr 23:$1,598,000
May 11: $1,188,000
Change: – 410000.00 -26%

https://www.zolo.ca/richmond-real-estate/5271-hollycroft-drive

https://www.bcassessment.ca/Property/Info/QTAwMDA1WFNUUA==

$$$$$$$$$$$$$$$$$$$$$$$$$$$$

Feel free to make a donation.

Flop For Fox Fund…

http://www.terryfox.org/get-involved/ways-to-give/

#16 Dean on 05.13.18 at 4:35 pm

Why isn’t this type of transparency the law in every province? Governments too afraid of the real estate lobby?

#17 Stan Brooks on 05.13.18 at 4:38 pm

#16 Dean on 05.13.18 at 4:35 pm
Why isn’t this type of transparency the law in every province? Governments too afraid of the real estate lobby?

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

Transparency? In Canada?

You live in a dream world.
There will never be transparency here.

#18 Bob on 05.13.18 at 4:42 pm

Love the way you write. You keep every submission interesting and engaging.
Thank you.

#19 Stan Brooks on 05.13.18 at 4:48 pm

#14 AA on 05.13.18 at 4:17 pm
Hey Garth,
Here’s something that somehow gets the history…takes around 3 days for the latest update.
https://housesigma.com/
It’s my go to app for housing.
============================
That caught my eye:

https://housesigma.com/site/search/house/do03JdmCK4bMLy2x

Yes folks, I am not kidding, 725 k for a sh..ty condo in Markham.

note: 1000 in condo fees + probably 600 in property taxes per month!

As expansive as:

https://properties.lefigaro.com/announces/chateau-aveyron-midi+pyrenees-france/16364001/

at 500 k Euro


Castle
AVEYRON (12)
Price:
€ 500,000
Exclusive to Poncet & Poncet. Château South Aveyron, in commanding position. Old 19th century feudal property with 1 400 m²fully renovated floor space, arranged over 2 levels. Set in 7,3129 ha grounds with pool and formal garden, in unspoilt natural surroundings. Comprises several sitting rooms and 18 suites. Fully restored in 1992

or:

https://properties.lefigaro.com/announces/chateau-orne-basse+normandie-france/14037477/


Normandy, Orne, Property of the 17th / 18th centuries on the edge of the Forest of Ecouves built on its 18 000 m² park.
Removed in a natural setting of woods and hillsides, in direct contact with the Forest Domaniale Ecouves, gaining access by an avenue that draws chestnut trees secular, the Manor stands out, perched on its mound, surrounded by its groves, its lawns, its permaculture vegetable garden and its many fruit trees, its water feature in a real biotope, and its small fir tree on a hillock …
The overall appearance is magical and picturesque, with a natural appeal that grabs its visitor ..
Atypical property in its buildings, the main Logis Corps, whose restoration restores the nobility in its 260 m², is elegantly covered with natural oak paneling and terracotta floors.
A body to restore internally presents vast trays of surprising dimensions and volumes, strangely breaking with its exterior architecture.
Outbuildings, garages, bread oven, heated swimming pool, large glazed workshop opening onto the Park, a multi-faceted ensemble offering many possibilities for development and use.

Each mental hospital has it’s patients as each train has its passengers @TM

#20 Stan Brooks on 05.13.18 at 4:54 pm

Ah, the beauty in Markham after taxes and fees has the staggering Rental Yield of $1.08% if occupied all the time, according to the site:

https://housesigma.com/site/search/house/do03JdmCK4bMLy2x

Guess what will be the ‘value’ of this piece of old crap in 20 years.

#21 FOUR FINGERS WATSON on 05.13.18 at 4:58 pm

#10 A Yank in BC on 05.13.18 at 3:49 pm
Maybe the reason it hasn’t sold is because most people in Halifax have taste.

Miss the point much? – Garth
…………………………

Or maybe it is just overpriced for the average family at 6.5 times income.

In Halifax, median total family income was $84,560, while all other regions across the province had median total family incomes between 75 and 79 per cent of that in Halifax.Jul 18, 2016

Why would the average family buy a house priced at three times the average local property? Halifax’s income is higher than in Vancouver, where the locals have shoved house prices into orbit. People are funny that way. – Garth

#22 For those about to flop... on 05.13.18 at 5:06 pm

#5 waiting on the westcoast on 05.13.18 at 3:10 pm
Happy Mother’s Day!

I cannot wait for a day where we can get stats like that. Zillow is so amazing when looking at US property.

Thankfully, there is a similar service in Vancouver… It’s called “For those about to Flop”.

////////////////////

That’s nice Waiting.

I might have it wrong ,but don’t you go to Uruguay occasionally?

I mentioned Bordain is doing a show on Newfoundland tonight and last week he was in Uruguay.

I would like to go one day, but I don’t want to get bitten by Luis Suarez…

M43BC

#23 Stan Brooks on 05.13.18 at 5:15 pm

A 2 bedroom unit in this old condo buiding:

https://www.realtor.ca/Residential/Single-Family/19408154/907–33-ELMHURST-AVE-Toronto-Ontario-M2N6G8-Lansing-Westgate

was worth 110 k 20 years ago.

now is 850 k with much older building.

So how much you say is the proper correction for condos in GTA?

How does 85 % sound to you?

#24 Fish on 05.13.18 at 5:16 pm

summer time, guess I go to camping gear store and get myself a pop-up tent, Nova Scotia to far for me and I only like fresh unsalted water location

#25 Stan Brooks on 05.13.18 at 5:20 pm

#22 For those about to flop… on 05.13.18 at 5:06 pm

I would like to go one day, but I don’t want to get bitten by Luis Suarez…

M43BC

—————————–

He plays for and lives in Barcelona, Spain.

I guess this is why their/spanish properties are much cheaper than ours.

Ir is much more exclusive to have more-tax-now greedy fingers squeezing your balls. Premium worth paying.

#26 DON on 05.13.18 at 5:25 pm

Nova Scotia is beautiful…friendly, and loaded with culture. Why not pick up and move…get a better life style. Smart savvy employers making their way to cheaper locations.

#27 BlogDog123 on 05.13.18 at 5:27 pm

Where’s HHCE here to rage against the Shysters Realtors(R) holding back the info?

Halifax is a nice place, not sure how to attract jobs and growth. Personal income taxes are higher than Ontariowe.

Visited NB, PEI a few summers ago. Where were all the tourists? Zero highway traffic. PEI lost money over-building and running golf courses on PEI, expecting droves of tourists to materialize.

#28 The real Kip on 05.13.18 at 5:34 pm

DELETED

#29 Vancouver pre-sale market "absorption" 51% in last 4 months on 05.13.18 at 5:40 pm

Realtors, developers brace for crash

https://biv.com/article/2018/05/realtors-developers-brace-crash

https://www.homefinancingsolutions.ca/blog/vancouver-real-estate-perfect-storm/

#30 the Jaguar on 05.13.18 at 5:47 pm

The Jag thinks this summer will be quite the revelation from a real estate perspective. Chickens are really coming home to roost. Guess Garth and Malcom X both had it right in that regard.
Of course I won’t be able to take my eyes off the collision and aftermath, but somehow the arrival of pleasant temperatures after a ‘ longish’ canadian winter and the Winnipeg Jets raising national pride on the heels of the tragedy in Saskatchewan is a welcome distraction. Hockey will never live up to baseball, but it is a distraction after all. Still looking at the photos from the ‘UNSTABLE’ post.
I like the way Bandit’s left paw is draped so casually over the step while chaos ensues all around him. He seems to say “I don’t care what’s going on around me or what it all really means, I am only grateful to be in the arms of Garth and Dorothy who rescued me and gave me such a beautiful life”. Hasn’t clue that he holds all the cards.
That’s true greatness.

#31 FOUR FINGERS WATSON on 05.13.18 at 5:56 pm

Or maybe it is just overpriced for the average family at 6.5 times income.

In Halifax, median total family income was $84,560, while all other regions across the province had median total family incomes between 75 and 79 per cent of that in Halifax.Jul 18, 2016

Why would the average family buy a house priced at three times the average local property? Halifax’s income is higher than in Vancouver, where the locals have shoved house prices into orbit. People are funny that way. – Garth
………………………
You are probably right. It was probably offshore investors.

#32 Wallflower on 05.13.18 at 5:57 pm

DOM most bull**it number ever.
I am tracking properties on market since 2017 August yet DOM shows 22 when SOLD: many MLS numbers later.
DOM is meaningless. But if it were correlated to number of MLS numbers under which listed, it could be somewhat useful.

#33 Spaccone on 05.13.18 at 5:59 pm

Anyone know the verdict on something like Zolo, are their stats/numbers suspect?

#34 joeph wilk on 05.13.18 at 6:06 pm

Amazingly in Edmonton is different , prices went up almost 10 % from last year!!!
listings are at 5661 for last week and sales 925 for last week

How you explain this phenomenon !!!!!
and still oil patch i dead , i don’t understand this one.
Anyone can explain????

#35 For those about to flop... on 05.13.18 at 6:11 pm

Hey Dirty Shyster, I was just doing some Pink gardening on my iPad in the back yard and I realized I never got an answer for these cases I put up about a month ago.

If you can,supply the finishing touches,thank you.

I guess the one I am most interested in is the townhome on Ash,which would answer the question,can you overpay for a 30y.o townhome and still get away with it…

M43BC

3569 KING EDWARD AVE W VANCOUVER paid 2.6 April 2016 ass 2.72 now asking 2.65 sold for?

13697 Malabar Avenue, Surrey paid 1.32 August 2016 ass1.17 asking 1.18 sold for?

6438 Marine Drive, West Vancouver paid 1.28 January 2017 ass 1.26m asking 1.38 sold for?

27 8051 Ash Street, Richmond paid 993k March 2016 asking 969k sold for ?

$$$$$$$$$$$$$$$$$$$$$$$$$$$$

Feel free to make a donation.

Flop For Fox Fund…

http://www.terryfox.org/get-involved/ways-to-give/

#36 concerned1 on 05.13.18 at 6:20 pm

Things are still selling in the Fraser Valley. Amazon coming to Vancouver with 3000 jobs. Money is about to get more expensive to borrow, sure, and so is real estate and it’s associated carrying costs going to get more expensive, but guess what–prices will continue to go up on the west coast and everywhere within a stones throw from Vancouver.

This is the new reality. Higher prices AND higher carrying costs. Eventually debt will get inflated away as it has been (ask me what $100k bought 10 years ago and I’ll tell you what $100K is worth today–not a heck of a lot).

Apartments are the last “cheap” investment to get bid up–after that, there will be nothing that is in the “affordable” zone.

There is just no talking sense into some of you on this blog.

#37 Dolce Vita on 05.13.18 at 6:31 pm

I commented on Pasalis’s DOM chart Tweet a few days ago.

To me it was refreshing to see some numbers attached to the Realtor chicanery that we all knew was going on with the DOM number.

Equally refreshing that you would take the time to write about it and explain it well.

Nice touch and juxtaposition with the http://www.viewpoint.ca/ example (a more normal “box” may have been better; then again, good to see what $0.5 MM buys outside of YVR and 416).

Almost makes me want to leave Italy and relocate to Halifax…ALMOST (when Halifax has something like Venezia Santa Lucia 1 hr 7 min. by train from my place, which is in the middle of Tiramisu and Prosecco country with the Alps 15 km away, maybe then – oh, forgot about the 50 km of Blue Flag Mediterranean beach coastline all of 45 km away).

Yes, the above parenthesis was self-serving…but SO TRUE.

#38 For those about to flop... on 05.13.18 at 6:34 pm

Hey Dirty,don’t worry about the one on Malabar,I just realized it is already in my Confirmed Pink Snow Folder.

In lieu may I give you this triple scoop since my free ice-cream voucher at The Belfountian is melting away before my eyes…

M43BC

1315 SOBALL Street, Coquitlam paid 1.33 ass 1.28 asking 1.53

4260 Coventry Drive, Richmond paid 2.83 May 2017 ass 2.58 asking 2.79

4582 Sunland Place, Burnaby, BC, V5J 3A4 paid 1.3 March 2016

$$$$$$$$$$$$$$$$$$$$$$$$$$$$

Feel free to make a donation.

Flop For Fox Fund…

http://www.terryfox.org/get-involved/ways-to-give/

#39 Newcomer on 05.13.18 at 6:36 pm

In an example of how GreenDP taxes are helping make more rentals available, a friend rents a house for 4.5 K, which was bought for 2.2 M, for the owner’s to live at some future date. But dad had a change in work and told my friend he would be moving in there himself. Only problem is dad could not sell his current digs, so he’s decided he would like to rent it out for another two years. In the meantime, my friend found a nicer house nearby for 5K. The owner spent all spring trying to sell it at 3.7 M and now say the will take it off the sales market for five years, when they expect things to be better. This seems kind of unlikely, but the point stands: it’s getting hard to sell places, and while there is a limit on how much rent you can get, at least you can a non-zero return while you wait. These are more or less luxury houses, but it should work the same all the way down the line. When the totally overbuilt condo market feels the impact, the housing crisis will be over. (Then we will just have the unemployment and foreclosure crises to deal with.)

#40 Nick on 05.13.18 at 6:40 pm

So what? Since most people work with a realtor anyway, all these same stats are available to them anyway. Realtors have access to all the price and listing history for any property. Sure it would be great if it was available at large to the general public, but I don’t think this “lack of transparency” is what’s caused the run up of prices in Ontario. Grasping at straws?

I said a lack of transparency was one of several reasons houses in some markets cost too much. Ignorant, ill-informed buyers are more likely to be goaded into paying too much and bargaining too little. – Garth

#41 common sense on 05.13.18 at 6:51 pm

Everyone wants to know and hear the truth as long as it doesn’t negatively affect them.

#42 Dolce Vita on 05.13.18 at 6:57 pm

#23 Stan Brooks

Took your numbers and ran them in the BoC’s Inflation Calculator ($110K, Year = 1998) and in 2018 it would be worth:

$160,472.

Of course that number ignores any real rates of return for the past 20 years.

$850K over 20 years, calculates to a CAGR of 10.76%…not bad, not bad at all.

#43 Dolce Vita on 05.13.18 at 7:05 pm

“Ignorant, ill-informed buyers are more likely to be goaded into paying too much and bargaining too little. – Garth”

Add to that, anathema to Realtor’s as sales down, prices beginning to drop; thus, the fear will be that buyers with the correct DOM numbers in hand will wait the sellers out until prices correct (or crash).

#44 Bob on 05.13.18 at 7:09 pm

Like the photos (on Instagram) of Nova Scotia vignettes. More, rather then less, would be nice.

Still trying to convince my better half to move there….

#45 Samuel on 05.13.18 at 7:11 pm

Bascially if a house doesnt sell in a week its overpriced. The houses that sell in 3 days average out the ones that sell in 3 months. Technology will see to it that a good deal snapped up.

#46 -=jwk=- on 05.13.18 at 7:12 pm

It’s not only the law, the government does it for you in Florida. Here is lee county (ft myers/cape coral) site. search any address. complete history including permits, renos, sales, and copies of all deeds and sale transfers, all past tax bills, etc. Total history.

https://www.leepa.org/Search/PropertySearch.aspx

So what? Since most people work with a realtor anyway, all these same stats are available to them anyway. Realtors have access to all the price and listing history for any property.

No they don’t. They don’t have any private sales, they don’t have any info on permits, legality of additions, surveys, detailed tax history, photos of property over the years, etc. it’s all ‘buyer to verify’. how the hell am I supposed to verify if the fence was installed correctly and with proper permits? And why do I have to beg a realtor for PUBLIC information!?

#47 Dolce Vita on 05.13.18 at 7:14 pm

Interesting reading news here in the EU in the last few days about Trump and his 20% duty on import cars, as if a done deal (based on a WSJ article).

Meanwhile “making progress” with tight lipped Canadian and Mexican bravado negotiators all you see on Canadian news regarding NAFTA.

I believe it will be called AFTA in about a month or so if Trump has his way.

#48 Leo Trollstoy on 05.13.18 at 7:17 pm

According to the country’s largest real estate board, the DOM number has exploded – from a lowly 9 last year to 22 this spring.

A big difference between the RE peak of 2017 and this year

#49 Smoking Man on 05.13.18 at 7:43 pm

The Truth.

It can only be found at the end of a bottle. Once you’re in OZ all your programming and bias vanishes, the mind dips into the subconscious were the Truth lies. With enough practice, you will be able to work the thumbs and actually have something readable. When you get there don’t try to speak or walk. Got the scars on my head to prove it.

Where is John Galt?

#50 Nonplused on 05.13.18 at 7:57 pm

One of the soccer moms on my son’s team is a realtor dealing mostly in fancy homes on the popular west side of Calgary and she says she has lots of listings but nothing is moving. The economic slowdown in Alberta is very real and is being under reported. And where Alberta goes, Canada follows.

This is bad news for the rest of Canada as well, because with the exception of Newfoundland and Labrador the equalization system is basically a huge transfer of money from Western Canada to Eastern Canada. BC, Alberta, Saskatchewan, and Newfoundland are the only provinces that don’t get equalization payments. Why? Because that’s where the oil & gas is. (Newfoundland gets about 17% of it’s GDP from offshore oil & gas production (2015)).

This, in part, explains why Turdeau and Nutely are suddenly interested in building pipelines. If something doesn’t change soon to put the good people in Western Canada back to work the whole equalization scheme could fall apart. Ontario, which has the largest GDP in Canada by far, might have to start paying in again. How are they going to do that? They’re broke! (The government anyway.)

If the equalization system does collapse, what’s poor PEI going to do? They get $2,573 per person from equalization. What is poor old Quebec going to do without that $11.7 billion a year in free money from the west? Also, why on earth should Alberta stay in confederation and pay equalization if we aren’t allowed to do business because we are land-locked by our fellow confederates? We should join the US and build pipes south. Most of the oil and gas Alberta produces heads that direction anyway. F-You rest of Canada! Although the US isn’t being very nice to us either right now, but that is IMHO due to the shale boom. Once shale runs its course Keystone will get approved. The US doesn’t mess around when it comes to energy security. That’s why the south-most leg of Keystone has already been built and is operating. It’s moving shale oil. The resistance to the rest of the line is solely based on the fact that right now they don’t need extra oil from Alberta. But they will one day.

#51 Nova Johnny on 05.13.18 at 7:57 pm

Finally you talk about normal priced real estate. Then you show an 800,000 Halifax home. Not everyone has that kind of dough, and if you don’t want a mortgage then the Maritimes are it! I bought my first NS house 16 years ago,7 acres on a lake 60 grand. Sold lat year for 130 and picked up a bungalow in New Brunswick on a half acre for 35 thousand!!! Wake up people and live in your house, not for your house!!

#52 waiting on the westcoast on 05.13.18 at 7:58 pm

#22 Flop… Going to Uruguay…

Yep, we were there for a year. I had to travel too much as I took on a project in Vancouver while there.

If I was going to retire and only come to Canada every 6 – 12 months, Uruguay would be a top choice.

Dolce Vita – how do you find the taxes in Italy? That was one of my concerns about going there… Land prices are good in the central part of the country. I don’t know Friuli as well but Veneto is very expensive. My family hails near Bassano del Grappa (small town, Fontaniva, near Cittadella).

#53 april on 05.13.18 at 7:59 pm

# 36 – Not according to Garth, Ross Kay, Hilliard Macbeth etc.

#54 Comic Book Guy in YVR on 05.13.18 at 8:08 pm

Any news about what’s happening with the YVR realtors’ dispute with the federal Competition Commissioner? I’m here in VanCity and I’m so tired of made-up R.E. numbers. Transparency and open data are here to stay. It’s a matter of time before it takes hold in the Canadian R.E. industry, despite the data shenanigans of the Realturd boards.

#55 Comic Book Guy in YVR on 05.13.18 at 8:09 pm

That should say: YYZ realtors’ dispute with the federal Competition Commissioner.

#56 theoryAndPractice on 05.13.18 at 8:23 pm

The data is not only hidden here, but also falsified.

Why there is a difference between Nova Scotia and Ontario in transparency ?

#57 crdt on 05.13.18 at 8:24 pm

“According to the country’s largest real estate board, the DOM number has exploded – from a lowly 9 last year to 22 this spring. That’s a leap of 122%”

OK 22% of 9 is (1.98 + 9) + 9 = 19.98

These people give ADVICE? I guarantee that that number is being quoted as scientific fact by the talking heads right now..

#58 FOUR FINGERS WATSON on 05.13.18 at 8:24 pm

#52 waiting on the westcoast on 05.13.18 at 7:58 pm
#22 Flop… Going to Uruguay…

Yep, we were there for a year. I had to travel too much as I took on a project in Vancouver while there.

If I was going to retire and only come to Canada every 6 – 12 months, Uruguay would be a top choice.
……………………

Why Uruguay ? Is English widely spoken there? I am off to the Philippines again in a few weeks cuz I don’t want to spend another summer smoked in by forest fires in Kelowna. Last year was horrendous.

#59 Md on 05.13.18 at 8:28 pm

Guys, house Sigma app… Tells you everything.
We already have the transparency. I’ve been using it for months now and i can see DOM. Terminations. How many times listed, as well as final selling price. It ain’t pretty out there if your trying to sell a sfh.

#60 joe on 05.13.18 at 8:31 pm

Yes , Alberta should join USA long time ago…………

Is enough to work for the rest of Canada and pay so much in taxes ………property taxes higher than in ontario!!!!
food cost 30% more………probably no one believes that in St Albert new house 2300sq feet , close to costco pays 8000 $ per year taxes!!!!
And on top of that we have to put up with carbon tax

#61 Mdq on 05.13.18 at 8:32 pm

I find it funny when people mention how real estate in Vancouver could never be go down. The latest excuse is amazon coming to town and hire 3000 folks.

They all seem to have short memories or have no clue about the realities of high tech.
Microsoft has been making these sort of announcements for a long time. Look it up, opened an office in Richmond in 08.

Fortinet announced last year that they are hiring 1k people. I have friends at Fortinet, none of this has materialized.

These type of announcements bring media attention, amazon even had our prime clown minister feeling all proud…

If you think amazon is going to hire 3k your are a fool, there is not enough time talent out there. The city is expensive and new grads prefer to go to Seattle or Bay area.

Of they do hire that many people, short amazon as its an indicator of the bad quality. It’s not going to happen, these guys hire talent, not by numbers

#62 Smoking Man on 05.13.18 at 8:34 pm

Al right for all you smoking man haters. Bring it bitches.

Im doxing myself again.

Jim Stojsin on linked in…..

#63 conan on 05.13.18 at 8:36 pm

The exterior stone cuts down the shipping container look to some degree.
Kitchen looks wank. What else can one buy in that area?

How can so many get so diverted? Who cares what it looks like? – Garth

#64 LP on 05.13.18 at 8:36 pm

#44 Bob on 05.13.18 at 7:09 pm

Re those Instagram pics…I avoid all social media sites like the plague but the photo Garth posted of the old fishing boat at harbour-side on still water immediately made me think of just about any painting by Ted Stuckless of Twillingate NL. Some of his work looks for all the world almost like photos. That particular one is gorgeous and whoever took the pic ought to enter it in a contest or at least in a county fair.

Having just returned from a road trip to the east coast it made me want to get right back in the car and set out again.

#65 akashic record on 05.13.18 at 8:36 pm

#19 Stan Brooks on 05.13.18 at 4:48 pm

https://properties.lefigaro.com/announces/chateau-aveyron-midi+pyrenees-france/16364001/

at 500 k Euro

Not bad… but when you include location, the price is jumpy…

10.5 million EU

https://properties.lefigaro.com/announces/apartment-paris-ile+de+france-france/15007981/

#66 Lost...but not leased on 05.13.18 at 8:42 pm

# 35 Flop

re: overpay for a 30 year old condo?

Easy…..

Richmond BC will experience it first strata “collapse”…ie a strata circa 1975 that has voted to sell to a developer..only requiring a vote of 80%.

Family member lives in another Richmond strata circa 1986….which is well run…but a money pit..aka leaky condo retrofit…plumbing retrofit….just repainted..new vinyl flooring. …..

Point is….like the home Garth cited today …you can attempt to “maintain” a structure….or do a major renovation…and end up breaking even at best…til the point is the depreciation is reached that one is better of with a new unit.

A realtor we know says a good tip is to ask a bank if the would grant you a mortgage on an older strata unit.

#67 mike from mtl on 05.13.18 at 8:43 pm

About that advert. Here too ‘real’ DOM can be as high as 300+ days, while say a few months to be quite normal.

Personally for 899 for that, located there, where Ricky and Julian are your neighbours (that’s a jab), just no.

#68 It's all tainted on 05.13.18 at 8:45 pm

“Unfortunately it’s all a lie. The DOM is a Frankenumber, like the manufactured and trend-concealing HPI (home price index). It’s a fabrication that the average homeowner in Vaughan, for example, can expect to offload a property in little more than three weeks, nor that prospective buyers need to act fast to snare it.”

—————————————————————-
Precisely.
All information offered by the real estate boards is garbage including anything they have to say about foreign buyers. We should never cherry pick any of their statistics to support an argument . Transparency is a four letter word in Canada.

#69 For those about to flop... on 05.13.18 at 8:59 pm

#57 It’s all tainted on 05.13.18 at 8:45 pm
“Unfortunately it’s all a lie. The DOM is a Frankenumber, like the manufactured and trend-concealing HPI (home price index). It’s a fabrication that the average homeowner in Vaughan, for example, can expect to offload a property in little more than three weeks, nor that prospective buyers need to act fast to snare it.”

—————————————————————-
Precisely.
All information offered by the real estate boards is garbage including anything they have to say about foreign buyers. We should never cherry pick any of their statistics to support an argument . Transparency is a four letter word in Canada.

//////////////////

Does it start with an F?

O.k I’ll have a guess.

Flop…

M43BC

#70 Surfers rule on 05.13.18 at 8:59 pm

62 Smoking Man on 05.13.18 at 8:34 pm
Al right for all you smoking man haters. Bring it bitches.

Im doxing myself again.

Jim Stojsin on linked in…..
….

Jimmy stooge is drunk again…. how unoriginal… you should be a writer with an imagination like that.

#71 T on 05.13.18 at 9:07 pm

#23 Stan Brooks on 05.13.18 at 5:15 pm
A 2 bedroom unit in this old condo buiding:

https://www.realtor.ca/Residential/Single-Family/19408154/907–33-ELMHURST-AVE-Toronto-Ontario-M2N6G8-Lansing-Westgate

was worth 110 k 20 years ago.

now is 850 k with much older building.

So how much you say is the proper correction for condos in GTA?

How does 85 % sound to you?

——————

Still overvalued.

What a complete joke this all is. Toronto is not worth it, especially this new Toronto. A once great livable city completely destroyed by development run amok without any proper planning of infrastructure.

#72 Nuke on 05.13.18 at 9:08 pm

Grew up in Halifax. Family still there. Easy place to live. With the cold weather we had in Toronto this year should go back. Sold last home in Halifax over asking a few years back. Everything is close. Would cycle to Luneburg and Peggy’s Cove for the day.

#73 T on 05.13.18 at 9:11 pm

#63 conan on 05.13.18 at 8:36 pm
The exterior stone cuts down the shipping container look to some degree.
Kitchen looks wank. What else can one buy in that area?

How can so many get so diverted? Who cares what it looks like? – Garth

——————

Generally, people are idiots and you can’t escape it. I have recently learned to accept this. You can’t teach stupid.

#74 Fiendish Thingy on 05.13.18 at 9:18 pm

Zillow.ca can’t get here soon enough

Garth, how many appeals do the realtors get to bring to court before a judge says “too bad, so sad” and we can get some honest-to-goodness transparency in the RE market nationwide?

#75 Terry on 05.13.18 at 9:19 pm

“Unfortunately it’s all a lie. The DOM is a Frankenumber, like the manufactured and trend-concealing HPI (home price index). It’s a fabrication that the average homeowner in Vaughan, for example, can expect to offload a property in little more than three weeks, nor that prospective buyers need to act fast to snare it. That’s because the real estate board has purposely concealed from consumers any relistings, repricing, terminations or listing suspensions that occur.”

Garth, how is it possible for organized real estate in Ontario to continue to get away with this? Is there some way to hold them accountable, shut or close them down? If they are lying and cheating everyone is there not a way to make them stop? Is the Government not overseeing this? CREA and OREA exist to protect their members. What about RECO? Can RECO stop them from creating all these misleading and lying indicators? Why is there no action from RECO against organized real estate to stop these questionable practices in this province?

#76 conan on 05.13.18 at 9:20 pm

DELETED

#77 Lost...but not leased on 05.13.18 at 9:24 pm

Re: Frankenumbers et al

It’s been my experience that when you advertise something to sell….VERY OFTEN the best price is the first offer…

#78 Vanrentor on 05.13.18 at 9:25 pm

Is there any website to get DOM and price changes here in BC? Do I have to call a Realturd?

#79 SoggyShorts on 05.13.18 at 9:42 pm

#48 Leo Trollstoy on 05.13.18 at 7:17 pm
According to the country’s largest real estate board, the DOM number has exploded – from a lowly 9 last year to 22 this spring.

A big difference between the RE peak of 2017 and this year
**************************
You mean since the peak in 2013, right? hehehe

#80 FOUR FINGERS WATSON on 05.13.18 at 9:49 pm

DELETED

#81 Flyboy on 05.13.18 at 9:54 pm

Sold my place in St. Catharines last week. Sold for an outrageous price, was on market for 2 weeks. Bought for 30% less two years ago. The market here is still good, if you are in a good hood and price to sell. Dang.

#82 Month2Month on 05.13.18 at 10:02 pm

I am also on the House Sigma bandwagon for monitoring actual sale price, listing history and previous sales activity in GTA. However by following individual properties, I’ve noticed recently it’s not a perfect tool. Some price reductions and re-listings are not captured. So once again, we’re given the illusion that sellers are getting near asking price, with minimal DOM.

#83 cd on 05.13.18 at 10:09 pm

If a candidate in Ontario’s current election make some crazy promises like to totally open up the real estate market, jail some people, and make an open data base with all RE information, then I would consider voting for them. Its a bit of an awful idea, since it could make a third place candidate a front runner, but it would be something.

#84 Happy Housing Crash Everyone! on 05.13.18 at 10:15 pm

John Pasalis is a real gentleman and someone who we can call an honest realtor. He relies on his openness and services to sell RE. I can only imagine the REST of the dirty filthy scumbag SHYSTERS who misinform and lie for money must hate John Pasalis. Those SHYSTERS are useless eaters not capable of obtaining a high school diploma. These POS SHYSTERS want to conceal the fact the GTA is crashing. They know they are useless garbage and if most people understood how evil and greedy these SHYSTERS have become , people would spit on them in the street. There are amazing realtors but the biggest SHYSTERS are at the top.

#85 For those about to flop... on 05.13.18 at 10:18 pm

Pink Pollen falling in Surrey.

These guys picked up this place in May 2017 and had a land survey done and plans drawn up for a new build and then went weak at the knees.

They are on the hook for 1.49 and are now asking 1.45 after holding out for 7 months.

Hopefully someone with the same vision and slightly deeper pockets will make it work…

M43BC

1310 129 Street, Surrey paid 1.49 May 2017 ass 1.46

Oct 18:$1,650,000
May 11: $1,450,000
Change: – 200000.00 -12%

https://www.zolo.ca/surrey-real-estate/1310-129-street

https://www.bcassessment.ca/Property/Info/QTAwMDA3NkhHSA==

$$$$$$$$$$$$$$$$$$$$$$$$$$$$

Feel free to make a donation.

Flop For Fox Fund…

http://www.terryfox.org/get-involved/ways-to-give/

#86 crowdedelevatorfartz on 05.13.18 at 10:28 pm

Why is it taking so long for the Canadian Govt and the Court system to stop the withholding of housing sales stats and truthful , verifiable information?
Time for the Real Estate and Developers’ political Lobbyists to be sent packing to the rat holes wenst they came.

The frankenumbers from ALL the Real Estate Cartels across Canada should be sued out of existance.

Permanently.

Viewpoint.ca coming to a realtor near you…….

#87 CJ on 05.13.18 at 10:38 pm

#33 Spaccone

Yes, there are problems with Zolo. New terminated listings only show the new post date. Mongohouse shows all the individual listings under each address, even previously terminated IDs.

Could just be an error on Zolo’s end though.

#88 Lessons Learned on 05.13.18 at 10:45 pm

I have been following the solds in my hood (downtown TO) for the last 7 years. Honestly, this year is no different. The majority of houses are selling and still going in multiple offers. We are very far away from a balanced market. I am not sure what the definition of a balanced market is…but I think it would be reasonable to have your house on the market for 30 days and receive one decent offer that comes close (within 5%) of your asking price. Perhaps its a market where you don’t:

– feel like you have to make a decision within 30 minutes of seeing the house
– the listing price is actually good enough for the seller
– think attaching conditions to your offer like home inspection and financing basically means your offer is pointless
– have to wait to submit an offer b/c they won’t even look at them until “offer night”
– have to participate on offer night and having to ask yourself at what price would I be ok losing this house

Every piece of real estate that I have purchased in the last 7 years has been in multiple offers and always over list. The latest example of this was last Thursday where I participated and “won” in a 6 way bidding war over a lakefront cottage 200 km from my house downtown. This was an improvement over the 9 way bidding war I got into last year on another cottage in which I “lost”.

I don’t love our market and wish it were “normal” but it’s the market we have and you gotta live somewhere. Yes, renting is always an option….however bidding wars on that front are no better, trust me.

#89 Ester Green on 05.13.18 at 10:50 pm

DELETED

#90 Snowboid on 05.13.18 at 11:04 pm

In the meantime, the only peak we seem to be close to in the Okanagan is flooding. Soon to segue to fire season.

Real estate? Somethings haywire here – we get listings from our agent before they hit MLS, and by the time we get offers in there are already accepted ones, and in some cases more than one backup offer.

We are searching for townhomes/duplexes that allow normal size dogs, or SFHs in the $ 600,000 to 700,000 range.

Anything on the market for more than a couple of days is still junk. I can’t believe that speculators aren’t involved.

As always we are ever patient and refuse to get into bidding games – but our agent feels it won’t cool until the fall…

#91 Damifino on 05.13.18 at 11:55 pm

How can so many get so diverted? Who cares what it looks like?
—————————-

Diversion is pretty much all that ever happens on the lower decks of the SS Greaterfool.

#92 Stan Brooks on 05.14.18 at 12:14 am


#65 akashic record on 05.13.18 at 8:36 pm
#19 Stan Brooks on 05.13.18 at 4:48 pm

https://properties.lefigaro.com/announces/chateau-aveyron-midi+pyrenees-france/16364001/

at 500 k Euro

Not bad… but when you include location, the price is jumpy…

10.5 million EU

https://properties.lefigaro.com/announces/apartment-paris-ile+de+france-france/15007981/

I see, so you are not satisfied with comparing Markham’s old worthless condo with nice castles in France (our finance minister has french villa there, not in Markham) so you would like to compare it with 4 times larger (all brick) penthouse rooftop apartment overseeing Eiffel tower?

Why stop there?

Let’s compare it with 50 mil. place in Manhattan overseeing central park or maybe with the Louvre, Versailles or the Buckingham palace?

After all they are just places to live. No?

No doubt HW7 will displace Champs Elysees as the cultural avenue of the world.

Oh, that romantic (and smell) crossing the bridge under DVP..

#93 april on 05.14.18 at 12:22 am

#66 – I know someone who owns a Vancouver westside apartment which has been sold to a developer. She gets double what she could get if she were to sell her unit. She’s only been in the unit for a few yrs.

#94 april on 05.14.18 at 12:25 am

#61 – I heard Amazon will bring a lot of their own staff from other areas of Canada.

#95 NEVER GIVE UP on 05.14.18 at 12:34 am

I like The Car Guru web site for purchasing a used or new car.
They list the days on market. A kind of transparency you would never expect from a use car marketplace.
It enabled me to negotiate a tremendous deal on a Denali Hybrid.

There is only one place for the fraudulent real estate industry and that is Jail!

#96 thesecondcomingof johngalt on 05.14.18 at 12:45 am

Is that a beagle? Re;(picture),beautiful photo.

#97 JWD on 05.14.18 at 12:51 am

Amazing. And criminal that this kind of website is not available outside NS. Zillow south of the border is also transparent and shows all the same details. The government is long overdue to force this into action. The smoke and mirrors game needs to end!

#98 Nonplused on 05.14.18 at 12:54 am

#60 joe

Unfortunately the poor people of Ontario are getting a carbon tax too if it isn’t in effect already. How on earth they figure people have the money to pay another tax when they already face some of the highest income and HST taxes in Canada is beyond me. People don’t have the money.

So folks, (not you joe, but if anyone else reads this comment), whenever you hear a politician say “we are moving towards a zero carbon economy”, remember that person is an idiot and a lair. There is no such thing, but there are economies that are closer than we are. We call them impoverished nations.

Sure, we can reduce our carbon consumption somewhat by building more renewables, but hydro is pretty tapped out and solar and wind are very unreliable in Canada. We just don’t get that much sun in the winter. So here are some things we are going to pretty much have to do without in the proposed “zero” carbon economy, especially in the winter:

Heat

Hot water

Air conditioning

Refrigeration. It’ll work some of the time but because it will be intermittent the food will spoil.

Reliable transportation (the trains will only run when the wind is blowing)

Clothes dryers

Most electronics. (Will be too unreliable to bother owning.)

Factories and food processing facilities

Farms (only manual farming will make sense)

Power boats & RV’s

Ski resorts

Private automobiles (electric cars can’t help they actually make the problem worse because now the electric grid has to charge them too.)

And the list goes on.

The last “carbon free” economy to exist in America was the native one and it is the only carbon free economy that can exist again in the near term future. I am sure that one day in the distant future, we will have a carbon free economy but what the main source of energy will be is not yet clear. Probably some new form of nuclear. It won’t be wind and solar. Anybody who tells you something different is an uneducated moron.

Remember, politicians cannot invent anything. All they can do is make it a lot more expensive.

I thought I was done ranting but I am not. Take “Diesel-Gate” for example. If you are not familiar with this, VW got busted for programming their cars to perform differently under conditions that resemble an emissions test than they would say if you had the pedal to the metal because you were trying to merge or pass. This meant that the emissions were legal most of the time but not always. Why did this come about? Because politicians were asking, no, telling the car engineers to do something for which the technology is not available. You can’t legislate science. It’s like we got a bunch of damn “flat-earthers” and “creationist” trying to rewrite the science text books. It isn’t going to work. Or those idiots in the states who tried to legislate that pie = 3.14. That might work around the house but it’s going to be a bit of a problem if you have to be more precise.

Another great example from the automotive world comes from Ford. They have officially announce they are going to stop building cars in the next few years, except for the Mustang and a hybrid. They say it’s because nobody buys cars anymore, but if you read the text carefully you’ll see what they mean is they don’t make any money building cars. It’s too damn hard to meet the EPA mileage targets. So now they are going to sell only trucks and SUV’s. See what happened here? The government’s mileage and pollution and safety regulations as well have made it impossible to build a car economically. So now we all have to drive trucks.

Seat belts save lives, there is no doubt about that, but the evidence that air bags and anti-lock breaks do a whole lot is slim. But they are mandatory now. If anything anti-lock breaks are probably dangerous because now nobody who learned to drive after 1999 actually knows what a safe following distance is or how to stop a car themselves. It’s only going to get worse with further automation until nobody knows how to drive at all. Cars are coming now with automatic brakes that will only allow you to follow so close to the car in front of you. I can’t imagine how this will affect merging and changing lanes, but anti-lock brakes are to blame.

#99 NEVER GIVE UP on 05.14.18 at 1:00 am

Generally, people are idiots and you can’t escape it. I have recently learned to accept this. You can’t teach stupid.
==================================

Today I bought a used Vehicle. The Sales Manager made a $2000.00 error on the bill and signed it.
I left after leaving a deposit.
I thought they were giving us a Mothers day discount that I didn’t see an advertisement for. The salesman was harping about me getting my wife a vehicle for mothers day.
Anyway the sales manager who BTW is a civilized guy, phoned me about the error minutes after I left. I understood right away and even though I had him by the balls, I was happy with the price I negotiated in the first place and would not want to have him lose his job or something over this. I told him within seconds it is OK and I will agree to the new price.

My point is that Canadians are weak in Mathematics.
Canadians are weak in simple computation and even in estimation.

These are daily required tools to function well in this society.

If you have Children I urge you all to place them in Kumon Math. To leave the public or private school system with 30 to 1 ratio classrooms in charge of teaching this critical part of life to your kids is tantamount to neglect IMHO. (Sorry if it comes across not so Humble).

As well as above make sure you kids do the Hooked on Phonics course before age 3.

Do the above 2 things and you will have kids at the top of the class all the way through.

You will also benefit your country by raising the bar within the classroom as that can only pull others up.

Then watch them get scholarship money throughout University and leave Mom and Dad to save up for Retirement!

#100 jane24 on 05.14.18 at 1:10 am

22 Flop… Going to Uruguay…

Yep, we were there for a year. I had to travel too much as I took on a project in Vancouver while there.

If I was going to retire and only come to Canada every 6 – 12 months, Uruguay would be a top choice.

Dolce Vita – how do you find the taxes in Italy? That was one of my concerns about going there… Land prices are good in the central part of the country. I don’t know Friuli as well but Veneto is very expensive. My family hails near Bassano del Grappa (small town, Fontaniva, near Cittadella).
__________________________________

We live in Italy part of each year and I can tell you that the further south you go the cheaper the RE is. Plus if you buy an old home there is a much lower band of property tax as they want to encourage you to do this and fix it up. On the surface it looks like there are a lot of different property taxes but they are all small. We have a large 3 bed flat in English speaking Irsina, Basilicata and if I total all my property taxes they come to about $1700 per year. Very good for a 1937 square feet home. Avoid hill tops like ours as due to altitude, it snows in the winter.
Hope this helps.

#101 waiting on the westcoast on 05.14.18 at 3:37 am

#58 Four Fingers Watson re: Uruguay

Strong legal environment and foreigners treated equally under the law and in land ownership. Little class tension as more of the population is at their middle class level which is 1/2 of our standard of living. Cheap land is bountiful and their are significant tax benefits for foreigners getting residency including a five year tax amnesty on foreign income. Fair use of English in Montevideo but far less out on the coast where I was (La Barra, just north of Punta del Este). The people are awesome and very family oriented.

I loved it there and would consider going back to live in another 5-10 years (retiring). Too far to commute though…

#102 Tater on 05.14.18 at 7:29 am

Re the 122% number, DOM for April 18 was reported at 20 and for April 2017 was 9. Perhaps Garth had a typo?

Check it out yourself: bottom right-hand corner of this document. – Garth

#103 maxx on 05.14.18 at 7:36 am

#12 Stan Brooks on 05.13.18 at 4:06 pm

Completely agree….Canadians get reamed by telcos and ISPs. Most infrastructure was paid for long ago and any increases are a farce.

We are (currently) with the blue option, in the city and get booted off at least a couple of times a day. Crappy service.

““Yes, we pay more. But we get a lot more. That’s what I’d like people to take into consideration when they complain about their prices,””

Reeks of “be grateful you’re getting anything”. Is this idiot for real?

Far too many people in this country seem to accept shoddy treatment from an assortment of businesses. Reminds me of a great line from Animal House”:

“Thank you sir, may I have another?”

Bring on the competition. We might eventually be rid of csr’s who make promises only for them to be broken:

http://www.cbc.ca/news/business/bell-customer-wins-court-battle-over-contract-1.4635118

#104 maxx on 05.14.18 at 7:52 am

#26 DON on 05.13.18 at 5:25 pm

“Nova Scotia is beautiful…friendly, and loaded with culture. Why not pick up and move…get a better life style. Smart savvy employers making their way to cheaper locations.”

Quality of life and decent prices…..what a concept! If we could, we’d consider it in a heartbeat. Beautiful province and the locals are indeed friendly.

#105 crowdedelevatorfartz on 05.14.18 at 8:09 am

@#1 Myra Andrews

Garth raised the bar.
You’ll have to put DOM in your list.

#106 Midnights on 05.14.18 at 8:17 am

Here goes the neighborhood…
https://www.zerohedge.com/news/2018-05-14/big-short-steve-eisman-recommends-shorting-deutsche-bank-bets-against-canadian

Another in the long list of failed Zero columns on Canadian banks. – Garth

#107 crowdedelevatorfartz on 05.14.18 at 8:22 am

@#88 Learned anything?
“Yes, renting is always an option….however bidding wars on that front are no better, trust me.”
++++++

Hmmm, You’ve been reading this blog for how long?
And you “won” in a bidding war?

Renting vs Owning.
Well.
Renting doesnt come with a 25 year onerous payment plan.

#108 dharma bum on 05.14.18 at 8:24 am

It’s called the truth. – Garth
——————————————————————–

“The truth is not always beautiful, nor beautiful words the truth.”

― Lao Tzu, Tao Te Ching

#109 crossbordershopper on 05.14.18 at 8:27 am

halifax is nice town, but really, who would want to move there later in their life, go to southern florida, for that much cash you can live like a king.
its like lving in an nice prison. freedom is getting out, and when you walk out your door in your nice house in halifax you will know well, i would rather be poor in florida and walk by the beach.
get your priorities right, go to florida and if you have money a quick flight to grand cayman from florida is easy. who cares about canadian real estate, the game has turned over now, the leverage game, the banks , the government have all changed.
you will see in 20 years, capital gains limits on princinpal residence, as an alternative to estate tax, canada is a fiscal basket case, taxes have to come from somewhere.
the banks are back to being scotish stingy no money for anyone.

Canadians cannot just move to Florida, but have a 180-day limit on residency without losing Canadian health care or having the IRS consider them fair game. – Garth

#110 FLHTK on 05.14.18 at 8:37 am

I’ve lived in four provinces, Alberta twice. I now reside in Ontario and I can sure tell you it’s the worst one by far. More people need to stray outside their comfort zone for sure alot nicer places than the GTA that’s a given

#111 Gravy Train on 05.14.18 at 8:46 am

It’s called the truth. — Garth

#108 dharma bum on 05.14.18 at 8:24 am
“The truth is not always beautiful, nor beautiful words the truth.” ― Lao Tzu, Tao Te Ching

“Beauty is truth, truth beauty,” — that is all
Ye know on earth, and all ye need to know. — John Keats (Ode on a Grecian Urn)

#112 Gravy Train on 05.14.18 at 8:56 am

#89 Ester Green on 05.13.18 at 10:50 pm
DELETED

Ester! Watch that potty mouth! :)

#113 young & foolish on 05.14.18 at 9:25 am

“How can so many get so diverted? Who cares what it looks like? – Garth”

Soooo commonplace on your blog … it’s worth reading the comment section just for that disconnect.

#114 young & foolish on 05.14.18 at 9:31 am

Agree on re-listings and DOM stats …. as stated here. In my Toronto downtown slanty neighbourhood there have been plenty of properties languishing or being re-listed at lower prices.

Grandad says, “RE is a long term play” …. not a good time to be a flipper.

#115 young & foolish on 05.14.18 at 9:49 am

I wonder if Happy Housing Crash Everyone! guy has suffered some childhood trauma at the hands of a realtor?

#116 T on 05.14.18 at 10:10 am

#98 Nonplused on 05.14.18 at 12:54 am

I thought I was done ranting but I am not. Take “Diesel-Gate” for example. If you are not familiar with this, VW got busted for programming their cars to perform differently under conditions that resemble an emissions test than they would say if you had the pedal to the metal because you were trying to merge or pass. This meant that the emissions were legal most of the time but not always. Why did this come about? Because politicians were asking, no, telling the car engineers to do something for which the technology is not available. You can’t legislate science.

————————

VW were able to update all diesels to the emissions standards they were originally certified to after the government got involved. So yes, you can legislate science.

Regarding Ford discontinuing the manufacturing of cars. They are no longer investing in what is not turning profit. No one wants to buy ford cars, they are terrible, and a smart decision to stop building them. Kia and Hyundai completely took over that segment. It has nothing to do with government.

#117 45north on 05.14.18 at 10:10 am

For the past seven years GTA realtors have spent huge sums on lawyers fighting the federal Competition Commissioner for the right to conceal, manipulate, hide, protect and exclusively own sales and listings data.

so why would you put money in this market? You wouldn’t.

for GTA realtors it’s the perfect storm – just as memberships are going down, lawyers’ expenses are going up.

#118 45north on 05.14.18 at 10:11 am

Canadians cannot just move to Florida, but have a 180-day limit on residency without losing Canadian health care or having the IRS consider them fair game. – Garth

we were in Sun City Center, Florida and met a retired couple from Buffalo. I was jealous they could live there with no issues.

#119 spartylzx on 05.14.18 at 10:24 am

Garth

Get that dog a fake eyelash and he could pass for Alex one of the droogs from A Clockwork Orange…..

#120 brian1 on 05.14.18 at 10:26 am

I went up Winston Churchill yesterday and there were lots of for sale signs. How is it in outside towns? Does anyone know? Alliston and Milton for instance?

#121 spartylzx on 05.14.18 at 10:27 am

#6 FOUR FINGERS WATSON on 05.13.18 at 3:12 pm

Nice looking barn. Where’s the house?”

It does have a bit of The Red Barn restaurant vibe about it!

#122 Happy Housing Crash Everyone! on 05.14.18 at 10:46 am

You dirty SHYSTERS scream at even a hint of truth. Look at these dirty SHYSTERS getting angry with each other. True SHYSTER SCUM.
http://www.680news.com/2018/05/13/ontario-real-estate-association-treb/

#123 FOUR FINGERS WATSON on 05.14.18 at 11:15 am

#100 Jane24
#101 Waiting

Here’s how I do it….I have a condo in Kelowna that I use when visiting my kids and grandkids. i travel with a small carry on backpack containing not much more than an Ipad and atm cards. I buy what i need when i arrive at my destination. I negotiate monthly rates at hotels that i want to stay in. If i get bored or annoyed I move on. I don’t cook so I eat in restaurants and I have ride apps for Uber, Grab, and taxis. I will be staying at a hotel in Cebu City later this month or early June, monthly rent is approx. $1000.cad. Nice room, gym, pool, rooftop restaurant with views. Total costs including entertainment is about $3000 cad. per month.

#124 Zapstrap on 05.14.18 at 11:19 am

#103 maxx on 05.14.18 at 7:36 am

#12 Stan Brooks on 05.13.18 at 4:06 pm

Completely agree….Canadians get reamed by telcos and ISPs. Most infrastructure was paid for long ago and any increases are a farce.

Out here in BC Telus is in the process of hooking us up to fiber optics. They need written permission to dig up our property (underground wiring) so they had a booth set up in the local mall and were explaining the benefits and asking for signatures. Of course they never mentioned the price. When I asked they just said “well that is not determined yet.” At least they bribed anyone who talked to them with a free Telus logo chocolate.

#125 Mike in Edm on 05.14.18 at 11:22 am

#34 joeph wilk on 05.13.18 at 6:06 pm
Amazingly in Edmonton is different , prices went up almost 10 % from last year!!!
listings are at 5661 for last week and sales 925 for last week

How you explain this phenomenon !!!!!
and still oil patch i dead , i don’t understand this one.
Anyone can explain????
****************************
Realtor franken numbers… I don’t even know where you even heard prices have risen 10% as I’ve yet to see or hear anything even close to that, but if you actually pay attention, you’ll realize that prices in Edmonton have been pretty much flat for the last decade. If anything, they are slightly cheaper now.

#126 Mike in Edm on 05.14.18 at 11:29 am

#60 joe on 05.13.18 at 8:31 pm
Yes , Alberta should join USA long time ago…………

Is enough to work for the rest of Canada and pay so much in taxes ………property taxes higher than in ontario!!!!
food cost 30% more………probably no one believes that in St Albert new house 2300sq feet , close to costco pays 8000 $ per year taxes!!!!
And on top of that we have to put up with carbon tax
*******************
St. Albert is not the norm and anyone living in or around Edmonton knows that (The rest of Canada may not)… For those of you that don’t know, St. Albert has crazy high taxes b/c there’s literally no industry there at all, but they also get the best of the best services…. If it snows 2 flakes, that city is being plowed. That house you mention is also probably worth about $800k as St. Albert basically has 1% of the value of your house property taxes per year. The rest of the Edmonton area is not even close! I pay about 0.5%?

Houses are also cheaper than the rest of the Edmonton area to take in account for the higher tax bill.

#127 Tony on 05.14.18 at 11:50 am

Re: #34 joeph wilk on 05.13.18 at 6:06 pm

You must have the wrong city. Residential real estate in Edmonton has been flat to down for the past 11 years. Most resale townhouses and apartments cost less than half of what they would sell for way back in the summer of 2007.

#128 Drywaller on 05.14.18 at 12:10 pm

Obviously not a full history, but this is still a very helpful tool for properties in British Columbia:
Just look up “e-valueBC”, https://www.bcassessment.ca this is part of the BC Assessment website and gives you the actual sold prices for any property in the province in the last 3 years. Also handy for checking out property boundaries and how much your neighbour’s homes are allegedly worth.

#129 Ubul on 05.14.18 at 12:18 pm

#106 Midnights on 05.14.18 at 8:17 am

Here goes the neighborhood…
https://www.zerohedge.com/news/2018-05-14/big-short-steve-eisman-recommends-shorting-deutsche-bank-bets-against-canadian

Another in the long list of failed Zero columns on Canadian banks. – Garth

It is an interview with Steve Eisman on Bloomberg, not a “Zero column”.

#130 kp on 05.14.18 at 12:29 pm

DOM was 9 and went up 122%,
9 + 9 x 1.22 = 20

You prove the point that Canadians need more math class, regardless if you are given truth

#131 Westcdn on 05.14.18 at 12:34 pm

Musings for the day.
I can disagree but that won’t prevent me from working together to get things done. The longer I live, the more I see a circle where we end up where we started. Human nature doesn’t seem to change – passion vs logic and passion is still winning. I won’t fight a war over who is righter – leave egos in the basement along with my millenniums. That is not true. My eldest has a garage larger than my house. The youngest doesn’t have as much luck but is still fighting. Wealth is fickle. My eldest has 2 sons and my youngest 2 daughters – the dynamics are fascinating to me.

I don’t know why but many want me to fail and work the outcome. Then there are those who like me. My first outside benefactor was a school teacher. She was divorced with a single son that was rare at the time and I wondered why since she was pretty. Anyway, in the logging camp one room school house, I was the only one in Grade 1 with a gap to grade 4. She gave the higher grades most of her attention. She would give me exercise books and I chewed them up. She would test me regularly and then give me more exercise books. She encouraged me to become friends with her son, Eric, who was several years older than me. I would go find him and make him come with me on my “adventures”.

Then my father got fired for being “insubordinate” which set off a new change of events. I didn’t know poverty was one of them – being placed in a foster home was the low point. When I entered the Vancouver school system, their tests showed I was working nearly at a Grade 3 level and wanted me to skip a grade. My mother said no because she was concerned about me fitting in. I learned later that Eric died from cancer a few months after we were booted out. I grew to prefer choosing my destiny and will work to achieve that end despite the flack. Life is something I cannot control but I certainly can influence. All in all, I think I have done well with the cards I was dealt.

#132 Duke on 05.14.18 at 12:34 pm

#115 young & foolish on 05.14.18 at 9:49 am
I wonder if Happy Housing Crash Everyone! guy has suffered some childhood trauma at the hands of a realtor?

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

Nah. As a matter of fact, he/she is one of few sane people not being house horny here.

#133 RentYVR on 05.14.18 at 12:54 pm

Was cruising with the fams yesterday in West Point Grey and saw three “For Sale – Price Reduced” signs at three separate properties. First time I’ve ever seen such signs in my 6 years of living out here in la la land. Crazy!

#134 jess on 05.14.18 at 12:55 pm

worse at the international level

https://www.occrp.org/en/goldforvisas/
https://www.occrp.org/en/gacc/

=========
That letterbox companies are based on
artificial arrangements, implying that the legal
reality of an incorporated legal entity claiming to engage in a specific economic activity does not reflect the material reality;
•that trust andcompany service providers and the
legal advice industry is central to the use of letterbox companies for, respectively, the provision of substance and regulatory compliance, and legal advice on avoidance opportunities in cross-border contexts.
• that obscuring ownership relations is also a common element of letterbox companies. This can be achieved, legally, by service providers offering trustee services or illegally, by using proxy owners or false identities

#135 Mattl on 05.14.18 at 1:01 pm

#107
“Renting doesnt come with a 25 year onerous payment plan”

No, but it does come with a 50 or 60 year one!

#136 NEVER GIVE UP on 05.14.18 at 1:03 pm

#86 crowdedelevatorfartz on 05.13.18 at 10:28 pm
Why is it taking so long for the Canadian Govt and the Court system to stop the withholding of housing sales stats and truthful , verifiable information?
Time for the Real Estate and Developers’ political Lobbyists to be sent packing to the rat holes wenst they came.

The frankenumbers from ALL the Real Estate Cartels across Canada should be sued out of existance.

Permanently.

Viewpoint.ca coming to a realtor near you…….

==================================
The reason it continues is because TREB has deep pockets to keep paying high priced lawyers to delay obfuscate and deflect rulings.

Our legal system considers that if you are paying lawyers then the judges deem you a participant/ supporter in their craft.

Much the same way that Microsoft would delay rulings at $10 million a year in legal fees they would earn a hundred million a year on the stolen software. Then when the software is finally obsolete they would pay out (Netscape and others) a hundred million or so which is peanuts after making a few billion from the stolen intellectual property.

They are (TREB) essentially using lawyers as a delay tactic for a low price compared to the hundreds of millions in Fees they would not get if they had to act honorably.

I would like to see jail for people like this but our legal system is so full of corruption, nothing will ever happen.

Lawyers have already destroyed the meaning of Truth in our society as well as the institution of marriage with their despicable tactics.

#137 KLNR on 05.14.18 at 1:08 pm

Garth, you should rename your blog “stanbrooks.ca” lol

#138 Stan Brooks on 05.14.18 at 1:10 pm


Another in the long list of failed Zero columns on Canadian banks. – Garth

Failure and success (in investing, including of that article’s idea) is just a matter of timing.
Nortel anyone?


It is an interview with Steve Eisman on Bloomberg,

Yes, and nobody ever said that banks can fail, they will not.

But the ability to extract record profits from a country with no (predominantly consumption credit based) economy is limited.

You can extract only that much water from a stone.
Or that many pairs of shoes from the shoe-less.

If Steve Eisman is the prototype for Steve Carell’s role in ‘The big short’ I would tend to listen.

Much more worth listening to than T2 and ‘more tax now’/french villa boy, CHMC or BoC bosses.

Note that he is avoids commenting on China as he is not following China.

But he (and I) are definitely following Canada.

That picture of the 725 k sh..ty condo in Markham with 1.6 k in monthly property taxes and condo fees, that can (theoretically, if occupied full time and tenant pays the rest of utilities) generate the staggering 1 % of yearly return with expected lifetime of the building 25 years max from now tells all.

Insanity to the max, Canadian brain-frozen style.
There are no words to explain the stupidity and the danger of the situations.

So the banks and CHMC better watch. It is coming. The Big Bang.

#139 M on 05.14.18 at 1:41 pm

“That the market is inflated, dangerous and held together with gossamer strands of deceit.”

…masses like deceit Gartho baby. Even more… masses want deceit. Exactly the reaso for which a depression/war is a good collective reminder of what is really important in life. Since war is a non-starter, all that remains is a depression. Since we never really extracted ourselves from the 2008, and all the “growth” was ensured by money printing, the said depression is guaranteed.
Most morons in Tor actually work just to pay the rent or mortgage… and appears that they like it. For they don’t know anything else. I have never seen happier slaves.
Poor ol’ Stalin… if he only imagined…

#140 Dont give up the day job Smokey on 05.14.18 at 1:50 pm

Four Aliens are dispatched from Planet Nictonite to keep an eye on humanity after Hiroshima. They arrive in 1957 and integrate into society. They have developed some bad human characteristics. They meet up in Las Vegas to exchange notes and decided if they are going blow up the planet now that humans are capable of intergalactic space travel from downed UFO technology. All hell breaks lose in Las Vegas.
…………………………………………………………….
Read your book on my friend iPad yesterday, he said it was a waste of his valuable time but then again he said your funnier in the blog.
Word of advice give up the movie making this gig has been done twice already and I might add much more interestingly.
https://www.youtube.com/watch?v=rcSJ-6354-A
https://www.youtube.com/watch?v=G1WomfhjyVM

#141 Stan Brooks on 05.14.18 at 2:18 pm

#137 KLNR on 05.14.18 at 1:08 pm
Garth, you should rename your blog “stanbrooks.ca” lol
=====================
I am part of the furniture here. Ignore me.

#142 Dissident on 05.14.18 at 2:22 pm

#6 FOUR FINGERS WATSON on 05.13.18 at 3:12 pm
Nice looking barn. Where’s the house?

Why do I bother? – Garth

– – –

Haaa

This is totally true though. The unit next door to us in my loft condo was trying to sell last spring at a very ambitious $589K, then they relisted at $579K, then totally removed. They then relisted in the fall at $449K. (at what I call a ‘fake’ price). Finally sold at $550K.

I was annoyed when the ‘sold’ print-out sheet only showed “SOLD ABOVE ASKING PRICE!” as if $449K was ever the initial asking price. Liar liar pants on fire.

#143 JohnnyBoy on 05.14.18 at 2:49 pm

#109 crossbordershopper on 05.14.18 at 8:27 am

halifax is nice town, but really, who would want to move there later in their life, go to southern florida, for that much cash you can live like a king.
its like lving in an nice prison. freedom is getting out, and when you walk out your door in your nice house in halifax you will know well, i would rather be poor in florida and walk by the beach.
get your priorities right, go to florida and if you have money a quick flight to grand cayman from florida is easy. who cares about canadian real estate, the game has turned over now, the leverage game, the banks , the government have all changed.
you will see in 20 years, capital gains limits on princinpal residence, as an alternative to estate tax, canada is a fiscal basket case, taxes have to come from somewhere.
the banks are back to being scotish stingy no money for anyone.
…………………………………………………………
Canadians cannot just move to Florida, but have a 180-day limit on residency without losing Canadian health care or having the IRS consider them fair game. – Garth
…………………………………………………………….
Aha it all makes sense now, that is why Smoking Turd is going to drag his sorry ass back to the country he denounces so much. Could never figure out why someone who hates Canada so much and loves Donald Trump and America would ever set foot back here. Why wouldn’t a self made millionaire Forex trader have taken out US health coverage? Pocket change as Smoking Man always says? As well someone who loves DJ Trump so much and America too wouldn’t feel any doubts about paying there fair share to Uncle Sam to pay for that wall.
Thanks for the incite Garth. You learn something new everyday.

#144 Tater on 05.14.18 at 2:58 pm

#130 kp on 05.14.18 at 12:29 pm
DOM was 9 and went up 122%,
9 + 9 x 1.22 = 20

You prove the point that Canadians need more math class, regardless if you are given truth
—————————————————————-
Garth’s original post had a typo, and had the current DOM as 22. Seems like he’s fixed it.

#145 Damifino on 05.14.18 at 2:59 pm

9 times some value X equals 20:
9 X = 20

The value of X is:
X = 20/9 = 2.22 (rounded to 2 decimal places)

That value expressed as a percent:
2.22 * 100 = 222%

Check result:
9 * 222% = 20

#146 B20 is the real deal on 05.14.18 at 3:37 pm

The mortgage rule changes are whacking this once hot BC market like we haven’t seen in a long time. Rumor has it by July we are in a buyer’s market and then… back to 2015 levels in short order.

#147 Steven Rowlandson on 05.14.18 at 3:57 pm

Garth you can go to Nova Scotia but you can not escape Canada’s genocidal and insane real estate market. It is omnipresent and universal. The offending prices need to be legislated away to the dust bin of history for the good of the country. The real life Parker brother’s monopoly game must end. That is the truth.

#148 jess on 05.14.18 at 4:01 pm

Two Millennial Socialists Could Take Down a Pittsburgh Political Dynasty
The DSA is targeting a pair of statehouse seats and aiming for its biggest wins yet.

Clint HendlerMay. 14, 2018 1:50 PM

https://www.motherjones.com/politics/2018/05/two-millennial-socialists-could-take-down-a-pittsburgh-political-dynasty/

#149 Steven Rowlandson on 05.14.18 at 4:06 pm

#130
You re close, 19.98 is more precise.

#150 Ustabe on 05.14.18 at 4:10 pm

Out here in BC Telus is in the process of hooking us up to fiber optics. They need written permission to dig up our property (underground wiring) so they had a booth set up in the local mall and were explaining the benefits and asking for signatures. Of course they never mentioned the price. When I asked they just said “well that is not determined yet.” At least they bribed anyone who talked to them with a free Telus logo chocolate.

You take the initial offer as it usually is pretty good.
a year or so later when your bill goes up to “normal” you call Telus customer retention.

Don’t lie to them but tell them you had an interesting conversation with a Shaw rep the other day and were wondering how badly Telus wants to retain your patronage.

Back to promo rates, whatever is in force at time of calling.

Here is the thing…you have to do this for yourself. Don’t wait for them to come up with it or for a CRTC rule or for government mandate cause that won’t happen.

#151 Princes Meghan on 05.14.18 at 4:13 pm

Canada’s Gas Prices Hit Highest Levels Since 2014, And Are Likely To Stay There

https://ca.yahoo.com/finance/news/canada-apos-gas-prices-hit-181800554.html

#152 Fish on 05.14.18 at 4:27 pm

ever heard of created number
Try not to duck at the true number it could be 3 or

possible 4 kinda lost my thought with all if this excitement of number cruning , but who cares just numbers

#153 Lost...but not leased on 05.14.18 at 5:09 pm

Re: TREB and frankenumbers

IMHO, it is only a matter of time till ALL REB throughout Canada will be legally obligated to have fill transparency and disclosure as the Halifax example cited earlier.

Likely sooner than later…as REB throughout Canada will want to save face and not look bad (with other option of zero tolerance Gov’t slam dunking them into compliance).

This latest overdone/overblown real estate cycle may serve to be the final straw/catalyst for long overdue change.

#154 Zapstrap on 05.14.18 at 5:23 pm

#150 Ustabe on 05.14.18 at 4:10 pm

Out here in BC Telus is in the process of hooking us up to fiber optics. They need written permission to dig up our property (underground wiring) so they had a booth set up in the local mall and were explaining the benefits and asking for signatures. Of course they never mentioned the price. When I asked they just said “well that is not determined yet.” At least they bribed anyone who talked to them with a free Telus logo chocolate.

You take the initial offer as it usually is pretty good.
a year or so later when your bill goes up to “normal” you call Telus customer retention.

Don’t lie to them but tell them you had an interesting conversation with a Shaw rep the other day and were wondering how badly Telus wants to retain your patronage.

Back to promo rates, whatever is in force at time of calling.

Here is the thing…you have to do this for yourself. Don’t wait for them to come up with it or for a CRTC rule or for government mandate cause that won’t happen.

Done that already … can’t believe the good deal I got. So good Telus sent it to “arbitration.” I was granted my offer for 2 years. Anyone paying the “asking price” is paying far too much. Thanx …

#155 Rob_in_TO on 05.14.18 at 7:09 pm

I don’t come here that often.

Your post was right on the money Garth.

So was this comment – “#142 Dissident on 05.14.18 at 2:22 pm

Haaa

This is totally true though. The unit next door to us in my loft condo was trying to sell last spring at a very ambitious $589K, then they

relisted at $579K, then totally removed. They then relisted in the fall at $449K. (at what I call a ‘fake’ price). Finally sold at $550K.

I was annoyed when the ‘sold’ print-out sheet only showed “SOLD ABOVE ASKING PRICE!” as if $449K was ever the initial asking price. Liar

liar pants on fire.”

The regret that I have was selling my comfortable condo unit in a small 6 story building – 1500 sq.ft. with 2 bedrooms + den, 2 bathrooms, even 2 balconies. I sold it when the monthly fees topped $1,000/month – that was excessive and I wonder what the current owners are paying. I sold it at the end of May, 2012.

Renting is what it is, some do because they have to, understood. I say from experience that you are treated like a second class citizen. I have had to move 3 times since. The last one was owned by a couple that said they were separating in 2016, the wife was moving back in. Then they said they were reconciling. I was on pins and needles for the rest of the time living there, waiting for the axe to fall. It did last year, after the provincial government changed the rules about how much a condo landlord could increase the yearly rent on a least. Sure enough, the couple said they were separating again and I was given 60 days notice. So here I am, this time renting a condo unit directly from a condominium corporation. When renewing at the end of April of this year, the increase was only what the government allowed.

I ‘coulda-shouda-wouda’ stayed in the place that I owned. It was a place that I called home, even though it wasn’t a SFH. It was home and I miss it and the neighbours that lived there.

The condo market in the 416 area is so called “hot” now. If I had stayed until now, it could have been listed for a lot more money.

My mistake, and so it goes.

#156 Chris on 05.15.18 at 8:21 am

So how long does it take for change, 2 decades? Garth been ranting on this for so long… near a decade.

The banks appear uncapable of raising rates without causing mass hysteria.

Lets go with Trudeau theory, the problem will fix itself!

#157 TD Bank DROPS.. on 05.15.18 at 1:26 pm

variable rate

hmm, guess rates going up in the near term hit a snag, lol

do the other banks respond in kind?

Can’t you see why a bank would do this? – Garth

#158 Robert on 05.15.18 at 4:12 pm

Flying in the face of current trends…just discovered my semi-detached house .. I sold less than a decade ago here in TO was recently listed at $1,795,000 (way above what I sold it for) and sold last week for ……$2.050,000????
And here I’m still an impoverished retired artist (maybe I can collect royalties?) and a struggling small business owner. Maybe …should have moved back to Nova Scotia when I had the chance. lol
https://www.mongohouse.com/soldrecords/5af90c844df2c462bc2b95b8