On modesty

flag-globebooks

Canadian (Non-Fiction)

TW

Title, Author, Publisher
1.  Outliers: The Story of Success, Malcolm Gladwell, Little Brown
2.  The Power of Now: A Guide to Spiritual Enlightenment, Eckhart Tolle, New World Library
3.  A New Earth: Awakening to Your Life’s Purpose, Eckhart Tolle, Penguin USA
4.  The Tipping Point: How Little Things Can Make a Big Difference, Malcolm Gladwell, Little Brown
5.  Saving Money, Pat Foran, John Wiley & Sons Canada
6.  Blink: The Power of Thinking Without Thinking, Malcolm Gladwell, Little Brown
7.  Payback, Margaret Atwood, House of Anansi Press
8.  After the Crash: How to Guard your Money in these Turbulent Times, Garth Turner, Key Porter Books
9.  The Official Driver’s Handbook: Ontario Transportation
10.  Tax-free Savings Accounts, Gordon Pape, Penguin Canada
TW – This week’s position on bestseller list

(Haven’t got your autographed copy yet? Before they all run out? Just go here. And it’s a fine thing I am not modest.  –  Garth)

61 comments ↓

#1 double mike on 02.13.09 at 9:43 pm

There are many things in the world a person can die from. One can choke on a squirrel bone, for example.
Why would anyone want to die from modesty. ;)

Excellent book, nice signature. Thanks!

#2 hmm.. on 02.13.09 at 10:22 pm

hey, you’ve got “The Official Driver’s Handbook ” beat.

Great.

#3 iceless in olympia on 02.13.09 at 10:22 pm

garth,

just got the book in today’s mail. (yes, we still have saturday delivery here – not sure how much longer.) and i’ve already started in.

be well,
peter,
olympia, wa

ps. glad to see you’re ahead of the ontario driver’s handbook. :-).

#4 RG on 02.13.09 at 10:41 pm

Well at least you’re ahead of the Official Drivers Handbook. Thanks for the autograph.

#5 sail1 on 02.13.09 at 10:44 pm

To found a great empire for the sole purpose of raising customers [is] unfit for a nation of shopkeepers, but extremely fit for a nation whose government is influenced by shopkeepers.”

Waiting for the the third one Garth.

#6 Hcase on 02.13.09 at 10:46 pm

Great to see that with all the negative media, that there are still people who have money to purchase your book. I was fairly sure after reading all the post’s on your blog that most people were out of work and should save the 20.00 bucks for squirrel bait….

#7 UBC Frank on 02.13.09 at 11:12 pm

How the hell did you beat out this guy?

http://www.woodybobs.com/squirrelrecipes.html

#8 Jon B on 02.13.09 at 11:15 pm

And this from the guy who said this blog is not about Garth Turner? Come on!
Congratulations on your success with the book.

#9 john on 02.13.09 at 11:26 pm

Congratulations!…i can’t wait for your next book “sheeple”

#10 speculator on 02.13.09 at 11:33 pm

I want to buy your book as I actually think you have a valid point on real estate. I have spent the last few years listening to Don Campbell. I listened to Don so will lose alot of money when you are proven to be correct. Would you be willing to sign your book something to the efffect of Thanks for buying soon to be bankrupt spec Garth.
I have been joking with my spec budies you never lose on Real estate. Interestingly the ones who find it funny invested a long time ago. The newcomers to real estate not so much

#11 TAK on 02.14.09 at 12:47 am

Wait 2 years. I’m selling Garth’s signed book at Ebay so I can retire.

#12 mikef on 02.14.09 at 5:43 am

#7 piques my curiosity.
Margaret Atwood in NON-fiction?
I’ll check it out today.

Ontopic
Bought the book last week
Great book
Thank you Garth
Can you give your insight one day on the Montreal real estate market?

#13 BOB on 02.14.09 at 5:56 am

Garth is your book available at the book store or just on-line?

It’s in all the stores. — Garth

#14 Greg W., Oakville on 02.14.09 at 6:37 am

Hi Garth,

That’s good news to be added to any recommended book list. Free advertising is always a good thing to help increases sales. And of course it’ll help get your message out to more people that should probable be thinking more about this stuff and there families welfare. Hopefully more people will start to take steps to reduce the impact of uncertainty, like a power outage. I’m still adding to my bad day box, as I am able, and trying to stay positive, informed and realistic.

The economic house of cards that we find ourselves in is sure starting to shake. ‘If’ it collapses I hope we all won’t get crushed? What a mad economic/corporate world we have made for mankind. It isn’t helping that we are changing the very world we need for survival. The numbers of people, and the growth rate of everything isn’t helpful.
It’s regrettable that the welfare of human beings doesn’t seem to always take precedent to greed.

#15 Mike B on 02.14.09 at 6:43 am

Aaah with these kind of sales it’s bound to be in Costco or Sam’s Club pretty soon. Hey… sue me… I’m frugal. Maybe if you come to T.O. I can get it signed then

Speaking of Toronto… seeing alot of “sold conditional” and even some that don’t lift the condition and come back on the market. Spring should interesting

#16 Kitchener on 02.14.09 at 7:42 am

Garth I love your book. I’m almost finished. We purchased our home in 2003 on variable less prime, so our rate is 2.2 right now and still going down I hope. For the past two years every two weeks when I got paid I made and extra pymt of $150 to the mortgage and you are right, the amount of interest we have saved is amazing. It is actually addictive to make the pre-paymts and watch your morgate decrease. Can’t wait to see you in Listowel.

#17 mattbg on 02.14.09 at 7:42 am

I haven’t read your book yet, but it MUST be better than “Outliers” :)

#18 Sheldon on 02.14.09 at 8:20 am

Congrats Garth!
You’re even ahead of Gordon Pape, and he’s got MSN (or is MSM more appropriate?) supporting him.

#19 poorguy on 02.14.09 at 8:24 am

http://business.theglobeandmail.com/servlet/story/RTGAM.20090213.whomesales0213/CommentStory/Business/home

I liked the comment of this guy

“Ghetto Dude from Vaughan, Canada writes: Was there not an article one week ago, stating there would be an 8% decline in house prices throughout the entire 2009? And is this one not saying there has already been a drop of 11% in January alone? So should I expect an increase of 3% during the upcoming 11 months? Is this weather ‘another harsh winter’ in GTA? “

#20 David Bakody on 02.14.09 at 8:34 am

Still here our highly paid economist stating Canada’s Banks are the safest in the world ….. even heard on TV that some countries wish they had been as smart as Canadians ……. ??????? watch out for that first step it could be killer!

#21 ThumbsUp on 02.14.09 at 8:41 am

13 banks failed in US in 44 days 2009.

Obama’s job saving plan has grown from 1.5 million during campaign to 4.5 million today.

Before overpay others for a place, pay yourself!

Before going out ‘investing’, invest in yourself-the best asset you own!

#22 Paul B in Ontario on 02.14.09 at 8:51 am

I’m waiting for my library copy to come to me…I’m 3rd in the hold queue….call me cheap.

You’re cheap. — Garth

#23 Calgary37 on 02.14.09 at 10:01 am

If you are not yet a follower of George Ure, then here is an excerpt from his Saturday column.

“As I see it – and I’m a simpleton compared with the formulaic sorcerers – it’s very simple: Planet #3 needs to get into sustainable mode. But sorcerers are sleight of hand types, while magicians deal with reality.;

Reality is that the global blinded by profit business model needs serious revamping because growth is at the edge of the global Petri dish. If we insist on ‘eating the agar’ faster than Ma Nature can replenish it using solar energy/photosynthesis, there will be a die-off of the global bacterium. That means humans.

A goodly number of the ‘powers-that-be’ already have their exit plans in place, and no, there’s not enough in all the world’s seed vaults to keep, not to mention restart, the whole planet on the other side of the die-off.

Don’t mean to be so glum at this hour, but that’s just part of what’s in Peoplenomics this weekend. If 2012 was going to be just a single threat time-span – like a Planet X, or something – it would be easy enough. But what’s coming is the end of the line at almost every level imaginable: Food, fresh water, global warming/cooling, volcanism, financial nonlinearities, machine intelligence…it all falls into the big stew pot.

What’s even more amazing to me is that folks like me – who write about the approaching period of nonlinear everything get branded as “survivalists”. yet when government spends billions on “Continuity of Government” plans it’s somehow prudent and we should all save the people who don’t listen to the folks in the home district, none of whom I’ve found that actually wanted to bailout the current crop of fat-cat bankers.”

Read the rest at:
http://www.urbansurvival.com/week.htm

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

Here is a transcript of an wide ranging interview with trends forecaster Gerald Celente (Collapse of 2009).

http://www.russiatoday.com/guests/detail/2114

Be Prepared.

#24 TAK on 02.14.09 at 10:08 am

Garth. In your book you said to go find a good financial advisor . Where are these people? How can you know who’s good. Maybe you can tell us how to find a good financial advisor in your next book.

By the way, are there any advisors that don’t make commissions from mutual funds, stocks and other securities that they lead their clients into?

They really are sales people and there can be potential conflict of interest. Don’t you think?

Why would a sales person/advisor sell you a good mutual fund when it pays him less commission than a bad one but with higher commission.

That’s a naive question. The few dollars a year an advisor might get in trailer fees for getting you into a fund hardly compensates for the loss of your business if you are dissatisifed with long-term results. Certainly you can get a fee-for-service advisor, and a financial plan would cost $3,000 to $5,000. Then you still have to buy assets. — Garth

#25 RTbandit on 02.14.09 at 10:10 am

Congrats on the success…one question though?

How many Driver Handbooks are being sold out there?

Obviously tens of thousands. But I am only responsible for my own book. Reason for the bruising remark? — Garth

#26 North Vancouver Citizen Jr. on 02.14.09 at 10:11 am

Congrats on your book’s success…it’s a good read and compliments your live seminar.

…After 2010, will Quebec attempt to secede once again?

#27 Cora on 02.14.09 at 10:38 am

…. psst, hey Paul, don’t tell Garth, but I’m off to get in queue. Maybe my local library finally has a copy, I’ve been checking. I’m sure when the library gets a looong queue they have to order more copies and everyone wins (I think). I usually like to read a book first before buying it, maybe I’ll make an exception here. Reading it before TSHTF would be best, reading it in candle light because I have no power might be romantic, but not very useful. On that note Happy Valentines Day!

#28 Glenn on 02.14.09 at 10:41 am

I think I heard somewhere that New York has its drivers manual in 8 something different languages, and the test itself can be taken in languages other than English. Maybe Toronto is a popular landing zone for Canada’s many immigrants, and all of them with “get a drivers license” at the top of their to-do list?

#29 dodgedabullit in Alberta on 02.14.09 at 11:12 am

Greetings: I just completed reading both books, and now will go back over them with a highliter. Wife and I recently walked away from 220 thou condo deal in Calgary, we were prepared to mortage our existing home for that amount. The bank was willing to give us well above this sum. I started seeing red flags while reading the Reserve fund report and sensed a white elephant. The books were waiting for me when I got home, and I realized how close we had come to making a huge mistake. It appears to me that realtors are incapable of digesting the news stories about lay-offs, shut downs, plunging markets, corruption, etc. In my own community, I recently attended a job fair where there were well over 300 applicants for a small number of positions. Some of the people in line had received lay-off notices effective March 1, from their current employer. My wife and I are now going to hunker down, clear some more debt, “Got that Stephen Harper”, clear debt not take on more. I am spending a lot of time surfing the web, and reading blog comments from other Canadians, maybe the politicans in Ottawa should do the same eh!!!

#30 Bailing in B.C. on 02.14.09 at 12:02 pm

mattbg on 02.14.09 at 7:42 am

I havn’t read Outliers or Tipping Point but I’ve read Malcolm Gladwell’s other book Blink: The Power of Thinking Without Thinking. In a nut shell it says that your subconscience can analyse situations more quickly than your conscience and so you should go with your intuition. Except when your subconscience is wrong and then going with your intuition is a terrible mistake. What a load of crap.

I’d take After the Crash over that any day

#31 Coll on 02.14.09 at 12:45 pm

Initially when learning about ‘After the Crash’ coming out, I’d requested it to be ordered at my library. It was, surprisingly, available to me to pick up shortly after the book was released, and by then there were about two others on hold for it after me.

But, I canceled my library hold, as I had allready received my paid- for (by mail-with a checque), kindly autographed (and valuable!) copy.

Worth it to have bought it.

Rarely buy books. Love library.
Also, have not been one to complete books lately…
but, completed this and previously Greater Fool, and so glad.
Only regret I hadn’t found and read Greater Fool earlier (that book I did happen to get from library, just came upon it in ‘new book’ area, but it had allready been out for months).

Know I will have this book to refer back to as I try to implement ‘suggestions’.

Lots of people I could lend it to, who could use it.

For those waiting for library, you may easily make up for the cost by something you read in the book now.

Look forward to next book, Garth, congratulations, don’t know how you do it

#32 Cendrine on 02.14.09 at 1:14 pm

Looking forward to seeing you in Listowel, Garth. I’ll be dragging my reluctant husband along! BTW, we have had six showings on our house in the last month and, so far, no offers. Here’s hoping today’s showing (a second go round for some people who went through last week) does not generate an offer before Feb 18. I really want to hear (and have my husband understand) what you have to say!

#33 JO on 02.14.09 at 1:56 pm

Garth, congrats on the ranking.

FYI-Our banks keep getting a lot of good press and are currently rated officially as the world’s safest. In fact Volcker was in TO last night and said he proposes changes that will make the US system a lot more like ours. Volcker will likely quit or be let go as he is butting heads big time with Summers, a loser of titanic proportions.

That said, I got a letter from my bank TD that told me as of March, my unsecured LOC rate will increase by .50 %. Even better, they made a comment asking me to come in and close or reduce my LOC if I didn’t need it. If everything is fine, why be so aggressive in reducing or closing LOC ? FYI – I have an insane beacon score, and carry no balances, including no balances on this particular LOC. As i have said before, we cannot accurately assess our banks until about mid 2010 because our RE market cycle is about 18-24 months behind the US and Europe. Our economic cycle is also behind.

Lets look at our banks in mid 2010 onward and then compare. I do think most of them will make it out better relative to US peers, but there will be major issues and a disaster or two to contend with.

JO

#34 Got A Watch on 02.14.09 at 2:18 pm

I’m in Ontario and the economy here has been in one of those funny ‘technical recessions’ for over 2 years now at least.

I’s just getting worse now, that’s all. Real estate has turned and will crater back to ‘97 values.

I’m not sure who thinks people here talk about the West or East Coast or wherever much. I don’t detect much ill will towards the West or any other region these days.

Most people are concerned about the economy and their job. Regular citizens. Layoffs are epic here. You know it’s bad when Toyota and Honda cut back to 1 shift 4 days a week. Actually met some returnees from Alberta and Florida too, back home to live with relatives.

You can actually see a noticeable reduction in vehicle traffic on the roads. Only busy during rush hour. During the middle of the day and late evenings, the streets are deserted like it’s 6 AM Sunday morning.

btw, as a Conservative voter, I have to say they will lose the next election hugely. The Party in power always get blamed in hard times, in any election. The Liberals would get blown out if they were in power at the time, it’s just voters venting their anger. I’d say it’s about 90% likely.

The same fate awaits the Provincial McGuinty Liberals though, karmic payback. They will have the “economic incompetence” can tied to them, and get blown out. Good riddance there.

#35 Popeye the sailor man on 02.14.09 at 2:49 pm

I tell Friends and Family who I believe really need to buy the book to get it but I also tell them that if they read the book completely in the next week or two and they don’t feel that they got anything out of it I will buy it from them.

So far a few have bought the book, and no one has come looking to get money, but it increasing the number of people in my circle that I can talk to with out getting the eye roll.

#36 jrochest on 02.14.09 at 3:29 pm

Mikef said “#7 piques my curiosity.
Margaret Atwood in NON-fiction?
I’ll check it out today.”

“Payback” is the printed version of her Massey Lectures from last year: they were on debt. :)

In an interview with CBC she said she’d decided to speak on debt three years ago, after she saw what the debt/income ratio had risen to.

One smart lady, that Atwood.

#37 David Bakody on 02.14.09 at 4:02 pm

Most people I talk with feel the same as I do, they turn off the Telly when ethier Harper or Flaherty are talking and it has gotten to point many turn the paper over at Tim’s tables when their faces are exposed …. as mentioned most I here from are pleased with “After the Crash” . The GM chapter 11 news is not shocking ….. just more sadness ….. trouble is GM front office did such a good job selling the Canadian wage issue many still think the assembly line workers were getting $78/hr and they are all millionaires. So February #’s will be bad then comes the eye’s of March ….. will their death in Con camp or what or will Iggy wait until the cat is out of bag on the banks.

#38 dodgedabullit in Alberta on 02.14.09 at 4:24 pm

Greetings:When I ordered my books, I got two of each. I am sending one set to a sister in law who recently told me that “I know all about what is happening with the Canadian economy”. They are presently in the process of installing granite counter tops in a beautiful home, far more than two people need, children all grown up. I am looking forward to see if they even read the books,and if so what the reaction will be.

#39 Kettle...Pot Calling on 02.14.09 at 4:38 pm

Well, JO, banks have to hold capital against your LOC whether you use it or not – so no doubt they want people to close their accounts unless they’re making money off of them. If you think that’s some sign of a banking apocolypse, then take the necessary steps to safeguard yourself. I wouldn’t read too much into it though.

#40 JM on 02.14.09 at 5:37 pm

Garth,

It appears to me that the arguement that “reduced affordability” will lead to futher price reductions in real estate is quickly losing steam. In Toronto, for example, prices in Rosdale, Lawrence Park, Kingsway and other such affluent areas are down at least 20-25% from the peak of spring 08. In addition, all but the most unqualified plebs can easily get a fixed 5-year rate for under 4%. It seems to me that while your coterie of supplicants have been dutifully mouthing doom and gloom, affordability has drastically increased. A drop in both rates and prices in the last few months has transformed last year’s $500 000 mortgage at $3200/month into this year’s 400 000 mortgage at $1700/month.

Garth (or someone with an IQ over 90), if home prices are going to keep droping, please explain why the new reality of affordability won’t act as a counterveiling force to obvious negatives such as increased supply of condos, reduced employment and serious negative speculation.

Because affordability is just one aspect of the market’s momentum, of lack of it. Interest rates can go to zero and people still will not borrow if they fear for their jobs or their economic security in years to come. It takes confidence to sign up for debt, and right now most would-by buyers are concerned about income stability. Real estate is not a commodity we must have, such as food or fuel, so the discretionary aspect of this delays buying decisions. Meanwhile prices have not yet declined sufficiently for people to be convinced the reward trumps the risk. And try asking a question without being an asshole. — Garth

#41 Investx on 02.14.09 at 5:41 pm

to “Poor Guy” who wrote:

“And is this one not saying there has already been a drop of 11% in January alone? So should I expect an increase of 3% during the upcoming 11 months? Is this weather ‘another harsh winter’ in GTA? “”

No. It’s not 11% in one month, but year-over-year:

“The average price fell 11 per cent from the year before to $273,607.”

#42 Frank-MTL on 02.14.09 at 5:44 pm

Hey Garth, any plans to visit Montreal ? Any views on the housing market here? Doesn’t seem to be as bad as Western Canada or TO, or is this just a delayed downturn ?

Less bubble, less fizz. But 2009 will see continuing price erosion and a significant drop in sales, I’d say. — Garth

#43 JET on 02.14.09 at 6:30 pm

So these guys will give your deposit back if you lose your job before occupancy: http://www.yourhome.ca/homes/article/586163

My question is what if you lose your job after occupancy? Would you become one of these power of sale statistics?: http://thenumberstheydontpublish.blogspot.com

#44 Sail1 on 02.14.09 at 6:36 pm

40 JM
Garth (or someone with an IQ over 90)

Gee meester uss hillbillys on this blog arnt wurthy of yur prsense. But my IQ is high enough to commend Garth on his response. Asshole seems to fit you just right.

#45 Sam on 02.14.09 at 7:01 pm

America’s waiting time bomb – a must see!!

http://www.youtube.com/watch?v=iSVHjyXsYqU

#46 Popeye the sailor man on 02.14.09 at 7:05 pm

SHOOSH! Everyone, I have an offer on my house and I don’t want to spook them off.

#47 Zoronqueen on 02.14.09 at 7:05 pm

Hi Garth,

Good luck with the rest of your tour….

Here is an argument as to why Edmonton is the best place to be for the upcomming depression.
1) Enjoys 2,263.7 hours of sunlight in the average year, more than any other major Canadian city. Great for those solar panels…
2) Edmonton has a souce of food it’s vincity has farms, cows/wheat, and lot of rodents/gophers to shoot… Gopher stew yummy… http://www.cooks.com/rec/view/0,1748,153179-241193,00.html
3) Edmonton is far away from natural disasters… ie. earthquake, volcanos, landslides, hurricanes ect.
4) the power grid should it go down, takes max 2 days to restore….
5) Edmonton has a source of water… We can make a crank well even in our back yard, or least have the capability to do so….
6) Edmonton is near a source of oil and gas….
7) Edmonton has a good place to raid for medical supplies….http://www.edmontonjournal.com/Health/Heart+institute+still+pulse/1221778/story.html
8) We have a relative good supply of wood for fuel
9) There’s a liquor store on every corner, good form of escapism
10) Overabundance of housing….

Some interesting links not related to above….
http://www.wnd.com/index.php?fa=PAGE.view&pageId=88851

http://www.articlesbase.com/economics-articles/socialism-and-the-antichrist-750176.html

http://prophecyupdate.blogspot.com/2009/01/cashless-society-and-anti-christ.html

#48 Zoronqueen on 02.14.09 at 7:09 pm

Paul B in Ontario

I bought after the crash, but am borrowing “Greater fool” from the library, Garth can’t get all of my book money…. Ha ha…

#49 rural route on 02.14.09 at 7:47 pm

Calgary 37 comment #23

You forwarded us to the interview of Gerald Celente … wow. And he has been spot on for years? Oh boy.

#50 chris on 02.14.09 at 7:50 pm

Garth, what about this one:
Taleb – The Black Swan

#51 Sam on 02.14.09 at 7:51 pm

Just for laughs – from montreal
http://www.montrealgazette.com/Homes/Home+sales+dive+prices+haven/1289231/story.html

#52 Got A Watch on 02.14.09 at 7:54 pm

LOL JM. Spoken like a realtor.

The real estate market goes in cycles, like every other market. You are just seeing the start of the down part of the cycle, the ugly end of the boom.

That’s just the way it is. After a 10 year run in Toronto, it’s time to correct, reversion to the mean includes overshoot to the downside just like we overshot to the upside during the end of the boom.

I read some study last year of real estate busts. The average length of the “declining price” phase was 4 1/2 years. Since we just burst the biggest credit bubble in history, I can easily see prices falling for 5 consecutive years.

I think prices will bottom at pre-boom ’97 levels. We’ll see who’s right, and who wasn’t in 5 years.

There is nothing new here, real estate busts are common throughout history.

#53 Sam on 02.14.09 at 8:14 pm

JM,

I like your newly acquired nick name because you do sound like one. LOL

#54 ThumbsUp on 02.14.09 at 8:44 pm

#33 JO on 02.14.09 at 1:56 pm
#39 Kettle…Pot Calling on 02.14.09 at 4:38 pm

JO, mine LOC was closed by TD in Dec. 2008, I think Kettle…Pot Calling is right on the banking capital ratio.

BoA in US is doing the same thing to their customers. Remember they’re being stress tested?

“So you’re looking at how the bank’s balance sheets will look under stress. And then you say to them, “This is our assessment of the amount of capital you need to cover your losses, and to stay in business, and be able to make loans, through what appears to be a severe recession.”

And, as the president said, we may lose a decade. So we’ve got to be very hard headed, and all the officials forecasters are still too optimistic on that. This is the amount of capital you need. Now you have a month, or two, to raise this amount of capital privately.”

detailed video from PBS:
http://www.pbs.org/moyers/journal/02132009/watch.html

For those who haven’t done so-
1. Watch the video
2. Read “After the Crash”

#55 North Vancouver Citizen Jr. on 02.14.09 at 8:54 pm

Asia’s Export Economies In Free Fall:
European Protectionism On The Rise:

http://globaleconomicanalysis.blogspot.com/

…””This is the worst possible time for protectionist policies. That means you can expect to see more of them, especially from free trade hypocrites in the US, UK, and EU.””

Hmmmmmm, so these economies will manufacture in house…they still need food, uranium and other commodities….bodes well for Canada as it is a leading exporter of commodities to these countries….but does not bode well for the manufacturing province of Ontario.

…Will that cause China, Asia and the U.S. to invest more into Western Canada?

#56 JM on 02.14.09 at 10:18 pm

Wow what a response. Just want to get some meaningful discussion about all the factors presently affecting property values. We all now understand that double digit unemployment by 2010 is exceedingly likely, an unbelievable glut of condos will be a reality within the next few months, the “cool factor” of being a property owner is decidedly gone (now it’s just the opposite), and negative speculation stemming from the real estate horror stories happening south of the border is becoming a stronger part of potential buyers’ decisions. But that is one side of the equation in the new equilibrium buyers and sellers will face. It seems almost sacrilegious to say it, but there is another side to that equation. As prices fall and rates simultaneously drop, houses get more affordable. This increase in affordability should either mitigate the fall in prices or reverse it altogether. What do bloggers think? What about in, say, 2-3 years when inflation really does start? Will houses act as a hedge?? In contrast, what effect will the inevitable rise in rates have on property values then? Let’s have some thoughts.

Ps. Garth Please don’t be petulant if you respond. From your last remarks you’d think I’d made some depricating comment about guys who ride motorbikes.

#57 nonplused on 02.14.09 at 10:45 pm

People don’t get rich writing one or two books. The publishing costs eat up much of the $20. It’s like being a Canadian musician, it works ok while you are selling records but a dentist probably retires richer. Bryan Adams and Nickleback excepted. But they broke the US market big time.

Everyone has to eat so if Garth can sell 20,000 books and make $2 dollars each, he’ll have a whopping $40,000 to pay his utilities and keep the website up. Not bad money for a few months work but it doesn’t equal rich or some sort of big cash out. Plus he probably makes more on the books he sells at Xurbia because Coles doesn’t take their 50%, but it costs me the same so why not support our favorite blogger? If he makes $10 instead of $2 for my money the advice on the website has been cheep at that price. And as Garth likes to remind us, you get what you pay for!

I like to buy books. Sometimes I reread them, sometimes I lend them out, and sometimes I just put them on display so as to hide my sub 90 IQ. Also, in a pinch you can use the ones you didn’t like to roast a squirrel.

#58 rural route on 02.15.09 at 12:22 am

comment #53 ThumbsUp

An interesting interview, and actually somewhat encouraging if you watch the whole thing.

#59 Jennifer Smith on 02.15.09 at 1:45 am

Well done, sir! Maybe we can do some PBS-style fundraisers and give away autographed copies in return for each $100 donation. Sure beats Iggy’s red scarfs.

Tell you what – I promise to read ‘After the Crash’ if you promise to read ‘A Fair Country’ (really, REALLY interesting and not too subversive). Deal?

#60 Calgary37 on 02.15.09 at 10:21 am

#48 rural route on 02.14.09 at 7:47 pm said:

“You forwarded us to the interview of Gerald Celente … wow. And he has been spot on for years? Oh boy.”
********

If you liked reading that transcript, here is a location that has links to 2 of Celente’s TV interviews.

http://theautomaticearth.blogspot.com/

February 14, 2009 column

Enjoy.

#61 Soylent Green is People on 02.16.09 at 12:56 am

Ides of March = March 15th

In modern times, the term Ides of March is best known as the date that Julius Caesar was assassinated, in 44 BC, the story of which was famously dramatised in William Shakespeare’s play Julius Caesar.[2]