‘After the Crash’ now available

traders

(Media release) — Quietly, growing numbers of Canadians are snapping up home safes, hoarding cash, buying gold and installing generators, and a new book on the current financial mess predicts this is just the start of a rush to prepare for possible economic collapse, even depression.

Garth Turner, whose 2008 best-seller “Greater Fool” correctly forecast the current residential real estate meltdown, now says “doing nothing is no longer an option” for families facing a crumbling economy. His latest book, “After the Crash: How to Guard your Money in Turbulent Times.” explains why the money contagion now sweeping the world will affect everyone, and could devastate those who fail to get ready.

Among the potential consequences:

• Big new drops in house prices.
• Neighbourhood food shortages.
• Fewer government services. More electricity outages
• Trouble for the Vancouver Olympics.
• A pension crisis.
• Cancellation of some credit cards.
• Empty Big Box stores.
• Despair and debt in the suburbs.
• Firewood at $300 a cord.
• Even a loss of confidence in a Canadian bank.

Turner says any of these – or all of them – are possible over the next two years or more, after the crash of the biggest bubble economy in history. Even a concerted effort by governments around the world, zero interest rates and trillions in new spending may be unable to prevent a deflationary spiral which will cost millions of jobs, drop real estate values in Albertan oil country by half, indebt governments and see more Boomers become Wal-Mart greeters, he says.

But Turner also lays out an action plan for investors, homeowners, retirees and families which can blunt many of the effects of the economic and financial storm. He details how to get out of devaluing real estate, even in a crashing market. How to trash the biggest threat possible in a depression – debt. How to build a ‘bad day box,’ get cash without getting attention and make your mortgage tax-deductible. Turner also has rules for ‘vultures’ looking for bargain properties, guidelines for buying safes and generators and a survival guide if 2010 turns into a rerun of 1930.

Required reading for middle class families who want to stay that way

“Nobody knows yet how this story is going to end,” Turner says, “but odds are things will get far worse before they improve. Home values and stock prices might not come back for a generation. Some banks could fail. Governments will be crippled with debt. But that doesn’t mean individuals need to be victims. Only those who fail to prepare are certain to pay the price.”

“After the Crash” is every bit as provocative, prescient and prodding as “Greater Fool,” and is required reading for middle class Canadians determined to stay that way. We’re in the midst of the most profound and sweeping financial crisis in 80 years. Garth Turner explains why, in stark and understandable terms, and provides a roadmap to better days.

115 comments ↓

#1 dd on 01.07.09 at 1:54 pm

What a joke

… “Stocks fall on bad news … Winning streak ends as investors brace for raft of dismal earnings.”

It proves the point that the markets have not factored in all the coming bad news.

#2 Congrats on 01.07.09 at 2:09 pm

Congratulations, Garth. Wishing you all the best in your book launch and in 2009.

#3 Dawn in Calgary on 01.07.09 at 2:16 pm

Done and ordered. Thanks Garth. Hope you visit Calgary on your tour.

#4 Zammer on 01.07.09 at 2:16 pm

Garth,
I just finished your Greater Fool book last night, it was an excellent read. Its the first book Ive read in years cover to cover and I read it every chance I got over a couple weeks. I am really looking forward to reading your new After the Crash book which I just ordered on Xurbia. It will be great to have a signed book by you also!
We managed to sell our house this summer in a small town in Alberta, and are in need of advice how to protect our money while we wait for things to settle out.. What a perfect time for your book to be released!

Thanks Again!

#5 Dave on 01.07.09 at 2:21 pm

Check out this brutal spin on TO real estate prices from the past “25 years”. He use the figures from the 1983 trough to the 2008 peak (!) to produce a 6.5% average return.

http://blog.richardsilver.com/2008/12/30/a-downturn-is-the-best-time-to-buy-up/#comments

“Real Estate Appraiser, Barry Lebow has wise words: “Those who bought in the downturn come out the biggest winners as prices rebound. Remember, prices do not go down or up, they simply correct themselves. You look at real estate over a period of years and average the price. No matter how low or how high, on average, in Toronto prices went up over 6.5% smoothed out over the past 25 years. 6.5% for an investment that you can eat in, live in, make love in, enjoy your privacy or family and is tax free. I still believe that real estate ownership is the best investment one can make.”

#6 Trevor from Vancouver on 01.07.09 at 2:27 pm

Thanks Garth, order is in for 2. I am really looking forward to reading it. Second copy is a gift to someone who needs it – someone who is close to being sucked in by a Realtor…

#7 Chincy on 01.07.09 at 2:38 pm

Thanks Garth…Just ordered my ‘signed’ copy…please personalize to me and say something cheeky about the vancouver real estate market :-)

#8 Havoc on 01.07.09 at 2:47 pm

Ordered my copy as well. Can’t wait to read it!

Thanks Garth, and all the best.

#9 JO on 01.07.09 at 2:47 pm

Hi Garth, I plan to buy this book in the next month or so. I still have to check out Xurbia.

I guess we’ll have to wait to see this “budget” come out and assess how much more the taxpayers of this country (especially the younger generation and future generation) have been hosed for. There is so much “bail out” and “stimulus” nonsense floating the world over that it makes me sick. For the most part, most of these programs will simply delay the inevitable and make it much worse in 2010-2013. The core issue remains extreme/excessive debt levels at all levels of society with much of that used for malinvestment (how many Home Depots / Ronas / Home Hardware / and now Lowe’s stores are within a 2-3 KM area of where you live if you’re in GTA / or any other major centre?) and consumption. When you combine the massive amount of debt that is mostly fraudulent to begin with – thanks to the biggest disaster the world has known called fractional reserve lending, and add in an ongoing policy of gradual and consistent devaluation of our money, you can see the reason behind trying to keep the system afloat with more and more credit. The solution to our crisis is not (and will not be – regardless of the garbage that is being advised to the public and our politicians) more credit or spending. That is what got us here in the first place. The system is now in the stage where it inevitably was destined to reach. All debt based, fiat money, fractional reserve lending monetary systems fail. They are designed to keep as many people possible in debt and consuming as much as possible. The war on savers and other prudent people, which began to falter in 2007 thanks to the inevitable deflation, has now ended – for a while only.

A simple math calculation for the average working Canadian should help in understanding the horrific consequences of combining an interventionist government that is too large combined with the even more ominous central bank that controls the money supply and permits fractional reserve lending.

From your gross income, subtract 4-5 % / year for the drop in the value of your money (called inflation for this example – headline figures), then subtract federal and provincial income taxes as well as municipal taxes including property taxes. Then from this amount, you are somehow expected to pay for groceries, insurances, loans and mortgages/rent, education, etc. and yet somehow find a way to save enough for a comfortable retirement ?

There is no such thing as a comfortable retirement, true free markets, or democracy in a debt based, fiat money, fractional reserve lending system that is by design in the hands of the large commercial banks and senior government officials. The end will be a powerful deflation, after which a high inflation will clean out any remaining money. This process has begun and the world we live in will be totally different by 2013, +/- 2 yrs.
JO

#10 Rob on 01.07.09 at 2:48 pm

Ordered, Thanks
I look forward to the read.

#11 smwhite on 01.07.09 at 2:49 pm

#1 dd

Whats even sicker is that GM, DAI and Ford were all up for the most part today while companies that are actually making money are getting creamed.

#12 smwhite on 01.07.09 at 2:51 pm

Congrats on the book Garth, been a heck of a ride the past year.

#13 Kestral on 01.07.09 at 2:54 pm

You are a man of your word, Garth! I just ordered my copy. I hope you’ll be doing a book/speaking tour in Toronto so we can meet you in person.

And my congratulations to you for your soon to be best seller, you deserve it!

#14 rose-marie on 01.07.09 at 3:12 pm

I’ve just ordered your new book on-line (I hope it went through okay) I’m so very excited to receive it and read it. Congratulations on it’s release!
Thanks for your blog and the insight you have offered all who visit here!

#15 VicREBear on 01.07.09 at 3:46 pm

“Remember, prices do not go down or up, they simply correct themselves.”

My choice so far for Most Asinine Realtor Comment of 2009. Mind you, there will be strong contenders for the title coming up in the next few months…

#16 P&P on 01.07.09 at 3:55 pm

Congratulations Garth, ordered your next book. Love this website. Thanks again.

#17 Realtor on 01.07.09 at 4:08 pm

Thanks Garth,

just ordered your book on the exurbia site.

#18 Anton on 01.07.09 at 4:52 pm

Just ordered both books today, great stuff. Hope you are signing both books, not just the new one.

#19 Bottoms_Up on 01.07.09 at 4:59 pm

My order is in also. I sent the xurbia link to my family, and got scorned. Oh well, they’ve been warned.

#20 Bottoms_Up on 01.07.09 at 5:05 pm

Canadian growth going forward…good for real estate prices?

http://business.theglobeandmail.com/servlet/story/RTGAM.20090107.weconomists0107/BNStory/Business/home

“Mr. Drummond, whose presentation at the event focused on the Canadian economy, projected that Canada’s real economic growth would fall by 1.5 per cent in 2009, but added that as a result of plunging commodity prices, nominal growth – before factoring out price effects – will decline 3.25 per cent.

He said strong commodity prices for much of 2008 helped keep the Canadian economy rolling up until a few months ago. Now, with those prices unwinding, the Canadian economy is set to feel the full impact of the economic downturn this year.

“We shouldn’t really be thankful for the end of 2008, because I think 2008 will prove to be a better year than 2009,” he said. “The first half of 2009 looks pretty terrible for Canada … with some kind of recovery in the second half of the year.” But he expects “an extended period of sub-normal growth” extending into 2010.

In a report issued Wednesday morning, BMO Nesbitt Burns predicted that Canada’s real gross domestic product would shrink 1.3 per cent this year, with the recession lasting “through the summer” before modest growth returns in the second half.”

#21 ThumbsUp on 01.07.09 at 5:53 pm

Got my copy ordered.

Thanks Garth!

#22 Greyhound on 01.07.09 at 6:04 pm

Just ordered your book Garth – thanks for all the great advice over the past year!

#23 Jmack on 01.07.09 at 6:10 pm

Subject: Vancouver weather Chilled Vancouver

commuters faced their second day of winter hell today, as an additional ¼ centimeter of the peculiar white stuff fell, bringing the lower mainland to its knees and causing millions of dollars worth of damage to the marijuana crops.

Scientists suspect that the substance is some form of frozen water particles and experts from Saskatchewan are being flown in.

With temperatures dipping to the almost but not quite near zero mark, Vancouverites were warned to double insulate their lattes before venturing out.

Vancouver police recommended that people stay inside except for emergencies, such as running out of espresso or biscotti to see them through Vancouver’s most terrible storm to date.

The local Canadian Tire reported that they had completely sold out of fur-lined sandals.

Drivers were cautioned to put their convertible tops up, and several have been shocked to learn that their SUV’s actually have four wheel drive, although most have no idea how to use it.

Weary commuters faced soggy sushi, and the threat of frozen breast implants. Although Dr. John Blatherwick, of the Coastal Health Authority reassured everyone that most breast implants were perfectly safe to 25 below, down-filled bras are flying off the shelves at Mountain Equipment Co-op.

“The government has to do something,” snarled a condo owner. “I didn’t pay $540,000 for my one bedroom condo so I could sit around and be treated like someone from Toronto.”

#24 Jane on 01.07.09 at 6:11 pm

Looking forward to the book!

#25 dd on 01.07.09 at 6:16 pm

#20 Bottoms_Up

“nominal growth will decline 1.3 … or 3.25 per cent in 2009 before recovering.”

We can only hope. I was reading today that the US was -6 for q4 and will be for q1.

#26 pbrasseur on 01.07.09 at 6:53 pm

Just ordered it.

Will you autograph mine in french? :)

Congratulations

JPD

#27 Rich in Calgary on 01.07.09 at 7:01 pm

Garth,
Long time reader, first time poster. I just ordered the book, & look forward to reading it.
I’ve seen you mention it in previous posts about what the future MAY hold, & I’m curious as to why/how you think there will be electricity blackouts?

Combine more severe weather due to climate change (certainly in evidence now) and reduced government services (including utility budgets) as public revenues fall, and it appears to be an inevitability. — Garth

#28 MRG in Whistler on 01.07.09 at 7:17 pm

Look forward to reading it Garth, especially that chapter on Olympic problems.

Chapter? It doesn’t take that many words to say ‘dissappointment.’ — Garth

#29 Derrin on 01.07.09 at 8:06 pm

I am sure the book and the tour will have it’s supporters.
Congratulations. It takes discipline to write a book.

If you want to read something that is a little more upbeat:

http://www.vancouversun.com/business/fp/economists+view+economy/1152395/story.html

#30 Rene on 01.07.09 at 8:28 pm

Apparently, the only safe place to hold real estate in Canada is … hold you breath … WINNIPEG..

http://www.winnipegfreepress.com/breakingnews/Winnipeg_to_buck_national_housing-sale_decline.html

Story sponsored by Royal Lepage. See our advertisement on page 6.

#31 Another Albertan on 01.07.09 at 8:29 pm

In regards to electricity:

Money is always made available when a threat is imminent or after there has been frontpage news. The real issue is that the construction of transmission and distribution networks along with generation capacity do not get built overnight. That’s what occurs with infrastructure that is intended to be in service for >30 years.

A single high-voltage transmission substation will run into the tens of millions. Components such as Static VAR compensators and transformers are custom-built and typically have lead times well over 1 year for delivery. Land negotiations and public consultations typically take much longer than the line builds themselves (hundreds of millions or billions for long-haul high voltage). Generation isn’t even an issue of NIMBY; it’s BANANA (Build Nothing Anywhere Near Anyone).

Capital investment (certainly in deregulated areas) will be curtailed if corporate paper markets remain depressed. If there is not government endorsement or backing, merchant networks and generation won’t take the chance.

What the consumer will see when the interconnected systems hit the capacity boundaries is a series of revolving blackouts. Weather-induced outages are another issue entirely.

#32 WAK on 01.07.09 at 8:46 pm

You’d never guess what assett the Fed govt is selling next….will be in the news in a few weeks. Desperate time calls for desperate measures.

#33 squidly77 on 01.07.09 at 8:50 pm

someone said that they expect the tsx to move up when RRSP monies pour in..i dont think so as sadly a lot of people hardly watch there portfolios
march might be the first time they find out that they have been financially assaulted
imho most investments will be in secure low yielding assets such as GIC
investing in stocks right now is done at your own peril and requires daily at minimum attention as so much is happening so fast
you can no longer invest your money and walk away trusting others to generate your hopeful profits
bank held mutual funds are extremely vulnerable to massive losses as they work off of *flawed and broken computerized models* you need to invest your money into industries that you understand

anyone that wants a water purifier can just google it
as far as purifying human liquid waste the easiest way is to boil it and harvest the steam..

#34 zloy on 01.07.09 at 8:53 pm

just ordered one, how about an autograph in russian :) ……………….. just kidding

keep up good work! RESPECT!

#35 Foreign Investor on 01.07.09 at 8:59 pm

Garth,

Can you make it to Cranbrook on your B.C. tour?

The people of the Kootenays would love to hear you speak.

#36 Cendrine on 01.07.09 at 9:15 pm

My order is in via xurbia (what an interesting site!). Really looking forward to an educational read. DH doesn’t want it, won’t read it. He does not believe me when I tell him we may not be able to sell our house this year or next year. He will not read any blogs or other news sources that portray anything more pessimistic than what is found in the MSM. What can I do? As long as I can keep the two (or four, including my adult children just launching into independence) of us fed, clothed and warm (stockpile food, garden, generator?) I will have achieved the most important thing. I may need some ideas on how to sneak a generator past DH but that’s for later.

Congrats, Garth – wishing you all success with your book!

#37 real estate expert on 01.07.09 at 9:45 pm

Uncle Garth,

Ok Ok,…Best wishes with After the Crash…just finished purchasing a copy…I can’t believe you won’t let me get a discount…we being step brothers and all.

…Please inscribe something delicous and delectable…subtle yet luxurious, baroque with a touch of renaissance…not something rude and abrupt…remember, this is a celebration.

regards,

Real Estate Expert,
aka,
Uncle Max

#38 poorguy on 01.07.09 at 9:47 pm

http://business.theglobeandmail.com/servlet/story/RTGAM.20090107.wretail08/BNStory/Business/home

More pain coming! Stay tunned

#39 midas on 01.07.09 at 9:52 pm

Individual freedoms are inversely related to the size of government. The greater the number of people employed by government the greater the probability that their employment profits the few that govern rather than the majority of the governed. People think that current economic and soon to be political and social problems are caused by individuals such as Madoff or institutions such as Lehman Bros. whereas in reality it the massive centralized government that made it possible for these individuals and institutions to arise in the first place. The disease is a large centralized government and the economic malaise we are experiencing is a symptom of this disease that is soon to become a pandemic.

Good quote from:
http://www.howestreet.com/articles/index.php?article_id=8340

“Our tendency toward bad decisions manifests as massive governance itself. Government is simply humanity’s way of ignoring reality’s warnings…at least for a while… People cherish the roads, the trade, the complexity and comfort that come to fill their lives: Highways, globalism, social security, the peace of empire, systems too big and wonderful to go without and too big to fail…until they do.

The mobs always favor lending the state more power and the state is only too happy to keep the goodies coming by the usual scams: currency debasement, easy credit, foreign resource grabs. The market would probably never have brought us many of the supposed “goodies” to which we’ve become so accustomed and certainly not at the scales only possible with larger government. And we most likely would have been better off.”

#40 Kilt on 01.07.09 at 9:59 pm

$300 cord of wood? Is that a dry cord?

Does that imply that oil and nat gas are going to go up as well?

Kilt.

Yes, and No. — Garth

#41 midas on 01.07.09 at 10:00 pm

#30 RENE / Apparently, the only safe place to hold real estate in Canada is … hold you breath … WINNIPEG..

Doesn’t take much to hold one’s breath in the Peg: just step out for half a minute in the 40 below sub tropical weather and your breath will be held all on its own.

#42 Calgary Fan on 01.07.09 at 10:26 pm

I tried to ordered via xurbia and it crashed 3 times with firefox…… I would contact your developer. It should work fine with a browser that has plus 20% of the browser market.

Good luck with the new book, I placed my order through xurbia using internet explorer ending the frustration.

Hmmm. That’s the first I heard of that (I also use Firefox), but my webmaster has been so notified. Thanks. — Garth

#43 Curious in Calgary on 01.07.09 at 10:28 pm

Congratulations Garth! I just ordered a copy.

I have been following your blog for quite a while, it’s a wonderful resource. Please keep it going!

Things are definitely changing in Calgary. I believe the mainstream folks is slowly catching on that the boom is over. Lately I heard lots of folks talking about layoffs, farming out and non extensions of contractor services, not only in the oil and construction sector! Even Stampede Park laid off 25 of their full time staff in December.

The City’s proposal to hike property taxes, water, sewer and recycling fees caused a big hoopla at City Hall and with the public and in the end the City had to adjust the budget and lower the hikes. I also read about City budget process reviews that will be conducted – you surely can imagine what this mean.

My plan was originally to save a couple of years for a good down payment …. that was in 2006. Then house prices took off even more and doing my homework and reading up on the market and economic situation, I decided to change my plans.

Personally, I am glad the boom is over. I can’t tell you how often I got questioned for not buying a new car on credit and people made fun that I was driving my 20 year old Honda. Dito for living in a basement and for renting. It was quite annoying I have to say. Not anymore, now it’s starting to get fashionable to talk about how to save money and how to shop smart. During the boom I got funny looks when I said I work two jobs, now I get asked how I manage to combine it and how to go best about it.

I was at this year’s Christmas party of Husky Energy, (no, I don’t work in the oil sector – I work for an utility) one of the social club presenters referred to the changing economic situation and kind of jokingly mentioned to please not talk about those who are wearing the same dresses as last year and to be considerate towards the not so easy time some folks might go through! Quite telling, isn’t it?

Some of the topics that get discussed here, worry me. Honestly! If it really gets so bad that we will have food shortages or brown outs, then I’d be screwed. I can’t move to the countryside, I don’t have the option to grow my own garden and besides having an emergency supply of food, water and cash, I would be quite vulnerable, especially if the crisis would go over a longer time, or even some years.

But then, I also remember my grand parents who survived two world wars. I heard a lot of stories when I was young how difficult it was to stay alive, to find food, shelter and other basics of life and still to stay hopeful for the future. Twice in a lifetime, just imagine! And they survived it living in a big City that got 80% destroyed. Whatever comes our way it can’t get that bad.

Anette

#44 dd on 01.07.09 at 10:31 pm

#40 Kilt,

Unless infrasture fails in the current situation oil and gas will not increase anytime soon. And some of the very gloomy economics are predicting 10% unemployment in 2010. I don’t expect that the world as we know it will fall apart.

$300 cord of wood in the long term if there is limited oil and gas infrac sending.

#45 ThumbsUp on 01.07.09 at 10:36 pm

#9 JO
well said

My fear is the economy in North America is in a structural collapse, and all those bailout and stimulas /(potential) tax cut won’t work; coupled with weakening C$, people will have to think twice to buy a bunch of spinach.

#46 unbalanced on 01.07.09 at 10:39 pm

# 41….midas.

At least we don’t have any mosquitos YET !!

Hee Hee

#47 dd on 01.07.09 at 10:45 pm

#27 Rich in Calgary

“and reduced government services (including utility budgets) as public revenues fall, and it appears to be an inevitability”

A lot of utilities get paid from the public and private industry. One of the last services to be cut back on will be utilities. Alberta has had mostly a deregulated market for some time is not reliant on government budgets or goverments setting the budgets.

#48 Dave in Calgary on 01.07.09 at 10:50 pm

Ordered two copies, you can sign just one as the other is for a guy at work who doesn’t like you ;)

Two books and shipping for about the price a barrel of oil… not bad.

As a side note, I wonder why there is no systems put in place in North America to govern the maximum amount of electricity you can use a PEAK times in your home. I think systems like this exist in Europe.

While costly, it works like this:

Electrical generating plants are sized to meet the PEAK electrical load, which is much greater than the average electrical load. If the peaks, or spikes, did not occur, the electrical utility infrasturcture could be much smaller.

So have a system that governs how much 1 dwelling can draw during peak time, and within that dwelling have a system in place that decides how much each outlet can draw etc…

So at peak times, when you come home and decide to turn on the stove, A/C, TV, computer, and all your lights, well guess what?? if the stove is on, the A/C won’t turn on, or the fridge turns off, or you can only turn certain lights on… etc… Govern the peak load and you can do a lot with a lot less…

The problem is the cost to implement… amongst others… Sounds better than rolling blackouts though

#49 Wealthy renter 2 on 01.07.09 at 11:11 pm

In 2007, a Calgary Herald headline read: $500,000, 0 down, 40 year mortgage. A glowing couple hugging joyfully was the picture under that headline.

Today, the Calgary Herald biz headline, shows another hugging couple who is not as glowing, but just surprised that their home isn’t going to sell of the $730k they thought it was worth.

My prediction: End of the year, it will be another couple hugging each other, and the headlines will read: “FORECLOSURE”.

and maybe, just maybe if I wait long enough, I might see a headline someday that might read something like this:

Employed homeless man lives on banks of bow river, uses savings to buy first house……..(ever wonder?)

#50 The Tallyman on 01.07.09 at 11:39 pm

Gongrats Garth!

just ordered a copy on Xurbia.

Also, I really enjoy the pics/info of your generator setups on the site.

#51 JET on 01.07.09 at 11:40 pm

Ordered my copy as well… looking forward to reading it.

I assume there will be limited autographed copies (want to make it worthwhile for my future grandkids to get it appraised and insured at the 2050 Antiques Roadshow episodes!)

#52 M I K E on 01.07.09 at 11:40 pm

Ordered – Looking forward to reading it.

Thnx Garth

#53 The Tallyman on 01.07.09 at 11:54 pm

#27 Rich in Calgary

About those electrical blackouts.
As a fellow Calgarian we are fortunate that most of our city’s electrical is underground and new in comparison to old cities & towns.
But were at risk like all the rest for delivery problems.

I lived in Ottawa for a year 20 yrs ago and was shocked by the archaic worn out wires & transformers that pretty much block out the sky.
I bet the city fathers have their fingers crossed that no ice storms or other surprises rear their ugly head in this bad economy.

#54 Downsized and Delighted on 01.07.09 at 11:59 pm

I’m anxiously watching for the arrival of your book at Chapters. I might even buy one if the price drops 40%!

#55 Gord In Vancouver on 01.08.09 at 12:10 am

Congratulations, Garth.

I look forward to reading your latest book.

Trouble for the Vancouver Olympics.

VANOC has already covered most of its hiney by completing all of its buildings on time and on budget. Problems associated with completing the athlete’s village have not been attributed to VANOC.

VANOC dodged the mother of all bullets by locking in its sponsors before the credit crisis froze America’s economy.

2010’s security budget will, hopefully, not be the event’s legacy.

Firewood at $300 a cord.

Good for British Columbia !!!

#56 Kanata on 01.08.09 at 12:36 am

Garth,

Just ordered.

#57 Nick on 01.08.09 at 12:49 am

Done and ordered, I look forward to reading it and seeing you at the HoweStreet.com Money Expo here in Victoria.

#58 TheFirstRick on 01.08.09 at 1:01 am

Worried about radon? Get granite counters tested

http://www.edmontonjournal.com/Worried+about+radon+granite+counters+tested/962852/story.html

This is almost too funny. Some of the greater fools will be undoubtedly making thier cheese sandwiches in the garage.

#59 The Dude on 01.08.09 at 1:12 am

If I order your book would I get it before Jan 26. I’m outta here on holidays for a while and would like to bring it along. I’m in Vancouver.

#60 TheComingDepression on 01.08.09 at 1:25 am

Well, all points that are written in your book has been agreed upon by many analysts here:
http://www.thecomingdepression.blogspot.com

you beat them ALL by many months!

#61 Mike (authentic) on 01.08.09 at 4:34 am

I’d like to order, is shipping free to the UK? I didn’t see any shipping prices on the order form.

Thanks,

Mike

Pick UPS option and it should calculate. — Garth

#62 islander on 01.08.09 at 5:04 am

Midas, you said it. And said it well.

#63 Jimster on 01.08.09 at 6:53 am

U.S. Apartment Rents Fall, Vacancies at 4-Year High
http://www.bloomberg.com/apps/news?pid=20601213&sid=aturS6ZBEvX0&refer=home

#64 real estate expert on 01.08.09 at 8:04 am

#55 Gordie Howe in Vancouver (another NHL great retiree who lives in Vancouver)

“”VANOC has already covered most of its hiney by completing all of its buildings on time and on budget. Problems associated with completing the athlete’s village have not been attributed to VANOC.

VANOC dodged the mother of all bullets by locking in its sponsors before the credit crisis froze America’s economy.

2010’s security budget will, hopefully, not be the event’s legacy.””

…Gordie, I am previoulsy on record to reducing or even cancelling the 2010 Olympics should security or sponsorship costs become completely out of hand.

Utilize that extra costs on even more infrastructure…would only make Vancouver an even more “elite” city.

…Vancouver, the next Financial/Trade and Lifestyle Capital of North America…if you are world class in the three above classifications, you are wasting your time where you are, Vancouver is calling.

just my two cents

#65 Bottoms_Up on 01.08.09 at 8:23 am

RE: #41 midas on 01.07.09 at 10:00 pm
—————
LMFAO!!!

Some quotes from this morning on BNN: “this is not your typical run-of-the-mill recession”, “Bank of England hasn’t seen interest rates this low since 1694”, “the time were living in right now will be written about in text books and studied for years to come”. No joke, these comments were made with the commentators smiling and laughing….we’re in for a lot of trouble people!!!!

Also I watched the very first episode of ‘Home Improvement’ last night (very funny), and there was a scene where Tim ‘the toolman’ Taylor asks his neighbour ‘Wilson’ what that juicy meat is cooking on his BBQ. Wilson’s response: ‘Squirrel!, Catch of the day.’ Ironic?…(this joke could turn into reality…)

#66 Makeorbreak on 01.08.09 at 8:31 am

I ordered your book yesterday and look forward to receiving it. I am going on holidays on the 25th and hope to receive it by then since I would like to bring it with me. Congratulations and keep up the good work, Garth.

#67 Greg on 01.08.09 at 8:38 am

Interesting NY Times article on the declining squirrel population in the UK as recession-plagued Brits discover fine dining on the cheap. Useful observations on the nuanced differences in flavour between the reds and grays of the species!

http://www.nytimes.com/2009/01/07/dining/07squirrel.html?partner=rss&emc=rss

#68 smwhite on 01.08.09 at 8:50 am

#54 Downsized and Delighted

If Mr. Turner is correct of the pre-sales, if you buy the magical chapters card, it gives you 40% off best sellers.

So Garth, when can I go to the local Chapters and have the book in hand?

Sadly, I do not run Chapters, so I cannot tell you the date they will have copies. All I know is that I get mine today and they are being sent out immediately to those who purchased online and think timely knowledge is worth more than seven bucks. — Garth

#69 John on 01.08.09 at 9:12 am

Just ordered. Looking forward to reading it, Garth.

(I use Firefox and it worked fine.)

#70 Da HK Kid on 01.08.09 at 9:13 am

They better have those sponsorship dollars in the bank for the whole tour because you cant get money out of sponsors who are bankrupt.

By 2010, places in Whistler could be affordable again.

You worry about your receivables and I’ll take care of mine. Besides, I’m paid in gold. — Garth

#71 Signal Loss on 01.08.09 at 9:19 am

/ordered

I have to finish Gwynne Dyer’s “Climate Wars” and Michael Pollan’s “In Defense of Food” first, though. Boy am I gonna be a cheery conversationalist after reading this lot.

Don’t forget “The End of Food.” It is an exceptional book. — Garth

#72 dd on 01.08.09 at 9:37 am

#55 Gordie Howe

“…Vancouver, the next Financial/Trade and Lifestyle Capital of North America”,

Actually I can see #64 real estate expert’s point. Vancouver is so overpriced that within two + three years and a 50% – 60% housing and commerical real estate pricing correction the city might be actually affordable.

#73 Gord In Vancouver on 01.08.09 at 9:48 am

#64 real estate expert

…Gordie, I am previoulsy on record to reducing or even cancelling the 2010 Olympics should security or sponsorship costs become completely out of hand.

Utilize that extra costs on even more infrastructure…would only make Vancouver an even more “elite” city.

Canceling the games at this point in time is completely out of question.

Vancouver’s infrastructure has already been boosted nicely by 2010. Without 2010, local politicians would’ve dragged their feet on already completed projects. The timing of the games; however, was terrible as worldwide construction costs rocketed shortly after the games were rewarded.

#74 Makeorbreak on 01.08.09 at 9:53 am

http://www2.canoe.com/infos/quebeccanada/archives/2009/01/20090108-083038.html

Pour ceux qui lisent le français!

#75 OttawaMike on 01.08.09 at 9:54 am

#42 Re: Firefox crash
FYI, I ordered this AM with a Firefox browser. Everything worked smoothly for me.

#76 Lance on 01.08.09 at 9:56 am

Copy is ordered. Glad to have a chance to finally read it!

Expect a lot of dismal economic news over the next few weeks and the recent optimism of the stock markets to vanish in a hurry. 2009 is going to be an ugly year.

#77 Keith in Calgary on 01.08.09 at 10:30 am

http://www.iht.com/articles/2009/01/07/business/yuan.php

From the article…..

At first glance, the declining Chinese appetite for U.S. debt – apparent in a series of hints from Chinese policy makers over the past two weeks, with official statistics due for release in the next few days – comes at an inopportune time.

All the key drivers of China’s Treasury purchases are disappearing. There’s a waning appetite for dollars and a waning appetite for Treasuries. And that complicates the outlook for interest rates.

—————————————————–

Personally I expect much, much higher rates in the next 24 months as a result of a pending US treasury collapse……rates in the 10% range for the Bank of Canada……with US yields much higher.

Welcome back 1982………

#78 Investx on 01.08.09 at 10:49 am

No Recovery for Real Estate as Speculators Dominate Sales

Jan. 8 (Bloomberg) — As the U.S. housing recession enters its fourth year, there’s no sign of a recovery because speculators account for most of the rise in sales.

While the purchases are trimming the inventory of unsold properties, most of those bought by speculators will likely return to the market when prices rise again, hampering any recovery, said Nobel laureate economist Joseph Stiglitz and Yale University Professor Robert Shiller in interviews.

“We’re creating a shadow inventory of homes that will be right back on the market as soon as the economy and the housing market begin to improve,” said Stiglitz, a Columbia University professor of economics. “We could see a double-dip in the housing recession if that happens.”

Full article: http://www.bloomberg.com/apps/news?pid=20601213&refer=home&sid=apFMheiIZtPo

#79 real estate expert on 01.08.09 at 10:52 am

“”You worry about your receivables and I’ll take care of mine. Besides, I’m paid in gold. — Garth””

…Hi Ho Silver and away!

Tonto

#80 Aaron in Georgetown on 01.08.09 at 11:46 am

Garth Turner writing books and making a profit on how people can save themselves from the doom and gloom in the financial markets. mmm…that’s interesting.

The money lost in Real Estate is only if you are forced to sell. If you don’t have to sell, then don’t. Reading the daily doom headlines, you’d think that everyone worked for the Automotive sector and it’s a simple fact that they don’t.

Btw, the past two weeks a Canadian bank granted me a mortgage, a $10,000 Visa card for both my wife and myself as well as a $10,000 Line of Credit.

Credit Crunch? Not in my experience.

Not so long as they are fools seeking new debt. — Garth

#81 Stivo on 01.08.09 at 12:03 pm

Your Order ID is: #1514

Order placed, I really hope to get your autogragh on the cover…

Keep going with the good work. Keep us informed…

I love reading this blog…

Steve

#82 Jeannie on 01.08.09 at 12:07 pm

Regarding the price of a cord of wood. Why burn wood when coal is plentiful in Alberta,(don’t know about the rest of Canada) and so much cheaper than wood.

Every couple of years we filled up our old truck with good grade coal right from the mine.
It was very inexpensive, and if you’re not familiar with coal, it’s slow-burning, and throws out the most intense heat.
Of course one first needs a fireplace , or install one of the newer fuel-burning stoves.
The one that we installed in the kitchen not only heated up the room, in an emergency we could cook on top of..soups, coffee, stews,etc.,

#83 Kash is King on 01.08.09 at 12:09 pm

Well, even ol’ Cramer thinks there is corruption on a BIG scale.

“Cramer thinks it’s about time investment bankers were prosecuted like mobsters. Break out the RICO Act. Hey, it worked against the Mafia, and even former financier Michael Milken. So why not use it on the rest of Wall Street? Soon-to-be Attorney General Eric Holder should create a special prosecutor’s office for organized banking crime and hold hearings on par with the Kefauver Committee.

“People will not come back to the financial markets until they know the bad guys are put away,” Cramer said. Integrity needs to be restored, “and that won’t happen until heads roll.””
==========================
Cramer: It’s Curtains for Wall Street’s Financial Mobsters
Posted By: Tom Brennan
Topics:Stock Picks | Stock Market
Sectors:Financial Services

Link here:

http://www.cnbc.com/id/28547614

#84 Larry on 01.08.09 at 12:40 pm

Just ordered my copy of your new book , hopefully you will sign it for me Garth. Thanks for your insight and also to some of the other posters on here.

#85 Bottoms_Up on 01.08.09 at 1:11 pm

Garth, just thoroughly read the Xurbia site, thanks for putting in all that hard work to identify and provide essential items that would come in handy in times of need.

This is no joke–have you considered providing information on squirrel traps and/or other tools that can be used to feed people (rifles, fishing tackle etc.)?

Thanks.

#86 $fromA$ia on 01.08.09 at 1:29 pm

Garth, I like Presedent Obamma’s sence of urgency to get moving on his economic plan.

It’s a real shame our Prime Minister would rather selfishly lock up legislature to save his own hide than save the hide of Canadians including the people that democratically elected his ass.

#87 dd on 01.08.09 at 1:29 pm

#80 Aaron in Georgetown

“The money lost in Real Estate is only if you are forced to sell. If you don’t have to sell, then don’t.”

Wrong answer. It is called opportunity cost. I have more money today because I sold my house near the high of the market – mortgage or no mortgage. In two years I will be able to pick up the same house for less thus saving thousands of $.

“Credit Crunch? Not in my experience.”
Look around. Precision Drilling just took on debt at 11%. 11% is large with the Fed interest rate near zero.

#88 The Tallyman on 01.08.09 at 1:37 pm

#82 Jeannie

Do you think Calgary & Edmonton yuppies are gonna want to get coal dust all over those shiny new stainless steel appliances- lol or adding “stoke the fire” in the nanny job description!

About a month I caught the last few minutes of a radio prg. It was about a push some communities were making for a total ban on wood burning
Talk about govt herding to protect the gas & electric companies and prevent prudent people from taking some alternative action.

I’m really envious of your coal burning option.
Nothing like being well prepared and saving a bundle
on utilities that are only going to keep skyrocketing.

#89 Jelly on 01.08.09 at 1:44 pm

Just ordered the book from Xurbia.

It made me think of some posters previously who had

accused Garth of plugging his new book, only looking for

profit, blah, blah, blah.

The way I see it, I am happy to contribute to someone

who has saved people from making huge mistakes

in their lives and I can appreciate the guts it must have

taken to say all this stuff years ago when it was not

popular. At least this is an honest days work, he

deserves the cash, using his expertise to benefit his

own family and future. I am sure Garth is well off

already but I do not mind lining his pockets when I

know I will enjoy the reading and get excellent tips too.

How many politicians do you know that actually

deserve it and make good money honestly?

I promise you Garth is part of a rare club.

Totally funny that Garth will probably have much more

money in the bank than that bully Stephen Harper.

Old Stevie just gets fatter and more grey faced by the

day. The job has sure aged him, and he will be a very

unpopular PM after years of recession and hardship.

Bring on the blame game!

Hilarious,

I would laugh all the way to the bank Garth.

#90 No Fool.... on 01.08.09 at 2:12 pm

When we’re done reading the new book, can we burn it for warmth?

Hope so. Calgary’s gettin’ coooold. Brrr.

#91 AM on 01.08.09 at 3:08 pm

My order is in! Judging from the response thus far, your book should be a huge success.

Your site has provided me with a lot of insite. My wife and I have changed our plans for the coming year (or two) based on the great information and discussion on your site. We were looking to upsize our home but I am thinking more along the lines of saving and debt repayment for now.

Keep it up!

#92 smwhite on 01.08.09 at 3:16 pm

Sadly, I do not run Chapters, so I cannot tell you the date they will have copies.

But imagine if you did!

Hey, that extra $7 I save will get me a couple IMPs and a bullet in case things start going “bad”, but after careful examination it looks like Chapters or Amazon aren’t selling your new book until February. So I’ll set down my copy of “The Art of Hapiness” for now, but will I ever pick it up again after reading “After the Crash”.

#93 jess tree on 01.08.09 at 3:48 pm

“professional investors” /bottom flippers user friendly?
so how do people save their neighbours from speculators who then rent the houses out and wait and while waiting don’t do any maintenance.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=apFMheiIZtPo

In November there were 4.2 million homes on the market, falling from an all-time high of 4.6 million in July, the National Association of Realtors said in a Dec. 23 report. The U.S. median home price plunged 13 percent from a year ago, the fastest pace since the 1930s, the trade group said…

Regular homebuyers are excluded from the foreclosure market because the rules favor professional investors and that lack of competition is driving down prices,” Baker said. “This is a place where the government could step in and stop housing’s downward spiral by encouraging a more user-friendly process.”…

#94 Sail1 on 01.08.09 at 4:15 pm

Real estate outlook 2009 for Calgary , so they say.

In early December, Re/Max released its housing market outlook, which forecast MLS sales in 2009 in Calgary to increase by two per cent from 2008 while there would be no change in the average sale price.

An outlook by Canada Mortgage and Housing Corp. forecast MLS sales in the Calgary census metropolitan area to increase by 2.8 per cent in 2009 while the aver-age sale price would increase by less than one per cent to$406,000, which includes both single-family homes and condos.

http://www.calgaryherald.com/business/Calgary+home+sales+slide+lowest+since/1150209/story.html

#95 Mike B formerly just Mike on 01.08.09 at 4:21 pm

Aaron # 80 Thanks for the scientific analysis.
Perhaps when the grownups are done talking you can chime in. Credit crunch exists because the banks coffers are empty. Namely the US … those guys south of Georgetown… you know who we mean don’t you. THE US is in a second level of insolvency . Look up that word if you like Aaron. Our banks and many banks around the world are tied up in their leveraged mess simply because US currency was considered the world currency. We are all paying the price not just the automotive sector. It is manufacturing, commodities to certain extent and of course the financial world.
Simply because they offered you a pre approved mortgage doesn’t mean they will really give you a mortgage… not until the house is approved by them and you sign away your life. The credit guys are happy to give you credit because they make minimum 12% on your unpaid bills. Yes… we all don’t work in the auto sector but the multiplier effect is enormous and will impact most peoples lives save for a handful like healthcare and educational professionals,..doesn’t seem that you fit into either of those categories.
Not only is the US at record debt but they are spending more…ie printing more.. and , unlike 1929 , we have a derivative mountain on the order of 600 Trillion. That would be 10 bucks for every dollar of GLOBAL GDP.
That would be my definition of a credit crunch. Not enough real dollars in the kitty to keep the world afloat.
Maybe you should watch “Its a Wonderful Life” to see how the world of finance works. You’ll like the little tinkly bell in the movie too!!!

#96 smwhite on 01.08.09 at 4:54 pm

#33 squidly77

Probably me from yesterday. My line of thought was that although the majority don’t follow their investments, they at least once a year have to do their taxes, which forces them to peak.

For the most part, unless they are living in a cave, they realize that the markets have been stinking it up. I do agree that the majority will probably be throwing money into GICs and money markets but there will still be some buying stocks, the volume may be very low but there will be volume. I’m not saying that they will be higher then today, but I’m speculating we’re going to have a drop in Jan and bounce in Feb.

My concern is that if the herd runs to cash, what plays does the “establishment” have to steal all that money sitting idol?

Inflation.

I was scoffed on here for putting my my net in a GIC last summer before the TSX hit 15000(the argument that inflation would eat away at it then), but in hind sight, a year and a half at 4% is looking a lot better then -35%.

Its important to invest at this point and minimize the speculation, and I have the luxury of being young and having 25 years till retirement. Hey, if companies like POT, AGU, PCA, IMO, ABX go belly up, the last thing you’ll need to worry about is money. In that case hedge your bets and buy Sturm and Ruger, Smith and Wesson…

#97 ThumbsUp on 01.08.09 at 5:01 pm

While our government is encouraging our citizens go get a loan and buy houses, why don’t our PM and FM go get a million dollar mortgage and buy for themselves?

#98 dd on 01.08.09 at 5:19 pm

More news:

I am hearing about more layoffs in Calgary’s oil patch. The front line staff (white and blue collar) are feeling th pinch.

#99 Investx on 01.08.09 at 6:07 pm

#80 Aaron in Georgetown

“Btw, the past two weeks a Canadian bank granted me a mortgage, a $10,000 Visa card for both my wife and myself as well as a $10,000 Line of Credit.”

And I just got a credit card limit increase recently, after not being able to get an increase for almost 3 years. Weird.

#100 ThumbsUp on 01.08.09 at 6:25 pm

#77 Keith in Calgary
“Personally I expect much, much higher rates in the next 24 months as a result of a pending US treasury collapse……rates in the 10% range for the Bank of Canada……with US yields much higher.

Welcome back 1982………”

I also estimate 24 months, there’re already reports on China trading with partners (mostly southeast & middle east Asia) settled by Chinese Yuan.

Also there’re reports on China “Foreign Exchange Reserve Drop first time in decades due to unknown reason”, apparently they bought lots of the US mortgage backed derivatives. that’s a big blow to Chinese government’s face and they’re trying to cover it by lying to their citizens it was caused by withdrawing for foreign investors.

What was uncovered last year and what the US/Canada are doing only delays the double digit interest rate for 12 months.

This is equivalent to Government artificially manipulate prices (in this case – capital), reminds you of Nixon’s ’72 price control, which only made things worse.

Garth’s prediction is a bit optimistic (2-5 years of low interest)
Sorry Garth, it’s market, and it’s global.

#101 Derrin on 01.08.09 at 6:38 pm

dd

“Wrong answer. It is called opportunity cost. I have more money today because I sold my house near the high of the market – mortgage or no mortgage. In two years I will be able to pick up the same house for less thus saving thousands of $”. – dd

So, you can time the market…?
By the way it’s apple to apple.
If you live in a home……last time I checked it isn’t an investment. Only in America is it an investment. Investments have such attributes as…….you can declare a loss against or write off the interest and so on.
And the three years or more that you wait on the sidelines don’t forget you are paying rent.
Choose your poison.
Owning a home is long term and should be viewed that way …….not like “Flip this home”.

Cheers,

#102 real estate expert on 01.08.09 at 6:41 pm

New York Real Estate Outlook: Mega-Crash

…Look out below…

http://www.alleyinsider.com/2009/1/new-york-real-estate-outlook-mega-crash

…did I ever mention Vancouver will become the next Financial/Trade/Lifestyle capital of North America?

#103 Bailing in B.C. on 01.08.09 at 7:07 pm

#95 Mike B formerly just Mike

Burrrn! He he he.

Garth, just ordered “After the Crash” and “The Greater Fool” as I have not read it yet (oh for shame!). Thanks for the web site. Your advice, and that of your readers, got me to sell my investment property in Summer and pay off all my debt, including my mortgage on my principal residence. I don’t have the sufficent nerve (or fear?) to sell my house yet. Perhaps the books will give me the push I need.

#104 TheFirstRick on 01.08.09 at 8:22 pm

#99 Investx on 01.08.09 at 6:07 pm
And I just got a credit card limit increase recently, after not being able to get an increase for almost 3 years. Weird.
========
Me too. Two of my 3 cards had the limits raised in the last couple of months. Who cares, my balances remain at zero/paid off every month. They can raise my limits to 100K, it won’t make a difference.

#105 burning question in BC on 01.08.09 at 9:08 pm

Re: $300 a cord firewood… I’m curious, what is the going rate for firewood currently? Not just for burly guys with a chain saw, pick up truck and access to a woodlot. Seasoned firewood delivered to your door. What are people paying for that? (I’ve seen people in Vancouver charging more than $300 already–is it just more expensive here–because everything seems to be more expensive here–or were they just outside the curve with their pricing?)

#106 Cassandra on 01.08.09 at 10:26 pm

Hi Burning Question:

My spouse and I already paid in that neighborhood for a “cord” of wood, delivered, by a local farmer (we live a good way outside of Toronto, and heat our home solely by wood). That’s the rate here for what we call a “bush cord” as opposed to a much smaller “face cord” (4 x 8 x 4 as opposed to 4 x 8 x 1). We have a large plot that we bought cheaply, as loggers had come through and cut all the trees down. Thus the land was basically available for a song. We are currently reforesting (about 300 acres) as we feel wood prices will increase in the future as well….it still has some wood, but it should be completely reforested in a decade or two lol.

Price depends on wood type and quality too…a bush cord of poplar will set you back only $100, as opposed to hardwoods, which contain much more heat. You actually should have both in your woodpile, and plan your daily burn based on weather conditions. There’s a lot of valuable information on how to do this at the Hearth Forum, here:

http://www.hearth.com/econtent/index.php/forums/

“Dry Cord” goes without saying…whatever cord you buy, face or bush, it should be seasoned a good six-twelve months before you burn it. Otherwise most of the heat value is lost evaporating the moisture in the wood.

Good luck with wood burning…we love it, the house is warm every night, and we never have to worry about running out/energy prices/supply disruptions.

Cassandra

#107 Eduardo on 01.08.09 at 11:25 pm

Garth,

Taking Calgary as an example, the recent stats show ~1000 more houses on the market than last year… even with pitiful sales in recent months as a result of fearmongers like yourself. In Alberta, fear and stupidity is all that I fear (aside from inflation as a result of bailouts for all the morons of the world, but I am well protected from that).

I am not saying that Alberta won’t sustain housing price drops but I think it’s funny how much you hate on us. I think you should take a trip down here so that you can see that absolutely nothing has changed except companies are not hiring as many people anymore. We don’t build cars here, we don’t mine steel either.

Also, I would like to note that the unemployment rate in Alberta is ~3.5% and there is a labour shortage. Even when middle class people lose their 60-90k a year jobs, there are tonnes of 14$/hr jobs at tim hortons and otherwise.

You are crazy if you think that people will pay 300$ for a cord of wood instead of burning nat gas. If you think a cord of wood is that expensive then I guarantee you that AECO gas is much higher than here.

Oil sands are here to stay.

To whoever called Albertans yuppies, try hard working people who don’t ask for handouts everytime the industry goes bust. A large amount of the Calgary population are engineers, etc. A large amount of Fort Mac, Red Deer, Fort Sask and Edmonton workers are hard working trade workers. It’s -29 with windchill here today… go back to your factory and make more cars people don’t want… let’s bail them out so they can make more SUVs and inflate the currency at the same time…

If the commodity drop happened and Alberta and Saskatchewan were in a recession but Ontario and Quebec weren’t we wouldn’t hear about it. Why is it that only after the Quebec forestry industry is hurting, we hear about it? What about a bailout for mad cow disease? Softwood lumber dispute? It’s only because center of the universe Toronto/Liberal Ontario is hurting that I have to hear it every day.

#108 Future Expatriate on 01.08.09 at 11:48 pm

Geez Garth, I sure hope all the sales on xurbia (including mine) will count as sales on the bestseller charts!!

Congrats!

#109 Dad was wrong on 01.08.09 at 11:51 pm

Meanwhile back in RE la-la-land:

“An expert prediction on 2009 real estate”
http://www.metronews.ca/toronto/live/article/163822

A year or so ago I might have taken this seriously – now, especially after just finishing “Greater Fool”, it’s just funny and a bit sad too as many really will take this as an ‘expert’ opinion rather than a deluded sales-pitch.

Anyhow just ordered the new book & looking forward to another good read.

#110 The Tallyman on 01.09.09 at 12:25 am

#104 TheFirstRick

About those credit card limit increases.
With the ever increasing identity theft issues, I purposely keep my credit limit low to a few grand.

Every time the card company tries to sneak in an increase I phone and ask them to put the limit back down.

Better safe than sorry and on the two occasions where I needed a big limit increase it was just a matter of picking up the phone.

I’d rather have the inconvenience of doing that,
than possibly one day trying to prove I did not make the 50k in purchases that mysteriously showed up on the statement.

#111 The Tallyman on 01.09.09 at 12:31 am

Credit limit increases.

With the economy in the toilet, scammers are going to get more creative (all that extra free time)

Fly low!

#112 burning question in BC on 01.09.09 at 1:58 pm

Cassandra, thanks for the very helpful info–that website is great.

We just replaced the rusty, broken damper on our fireplace and are looking forward to wood fires. After having lived in a rental where the furnace broke and the landlord took several days to get it fixed, we definitely want to have an alternative heat source, just in case.

#113 Robb on 01.14.09 at 7:41 pm

the sky is fall the sky is falling.Run for the hills.I can’t believe that you can’t see past this guy only wanting to sell his books.Don’t forget to stock up on canned soup and bicycle chain oil. Better learn how to barter with your neighbour as well ’cause who knows when you’ll need to bust up his kitchen chairs for firewood

#114 Robb on 01.14.09 at 7:54 pm

Nobody gets sucked in by a realtor they get sucked in by greed pure and simple. Joe down the street flipped a couple of houses now he’s driving a Ferrarri. RealEstate investment has made more millionaires than any other form of investment. Doesn’t mean you stop doing your due diligence. Only a fool gets taken.

Speaking of due diligence, who is Joe? What city? When did he flip and get the money for a Ferrari? — Garth

#115 Robb on 01.14.09 at 8:54 pm

I see you’re selective about the posts you put up. Anything contrarian to your views doesn’t make it does it.

Answer the last question and you get to post again. — Garth