Eye candy

It’s only fitting that the most emotional of assets would find a perfect fit with the most emotive of mediums. Real estate’s tactile, physical and highly visual – the only investment we judge by ‘curb appeal.’ It draws us in first through our eyes, before engaging the touch. We landscape homes to frame them. Paint and texture and clad them in careful hues. The more it’s eye candy, the more profoundly we want it.

So video is the perfect form of rel estate arousal. Here are a few which do a fine job.

First, the television commercial widely believed to have marked the very top of the covetous, calamitous, world-altering real estate bubble in the United States, circa 2005.

More Mars versus Venus. He sees evil. She sees desire.

How not to be a real estate agent, Part One.

House porn. I’m making this woman Executive Editor of this blog.

Here’s one for the HAM factor. In Australia, ‘No Asians Thank You.’ OMG.

How not to be a real estate agent, Part Deux.



The perfect Vancouver agent. We’re taking offers Sunday at 2 pm. Be there.

72 comments ↓

#1 squidly77 on 07.16.11 at 8:28 pm

realtor on something

realtors aren’t very smart

#2 Lorne on 07.16.11 at 8:36 pm

Firsssst

#3 Nemesis on 07.16.11 at 8:41 pm

“House porn. I’m making this woman Executive Editor of this blog.”…

Rather!…

Psst.. Meg in, “When Harry Met Sally” was better… and when ‘Nemesis’ hooked up with her in LeicesterSquare (pre RedCarpet, “Proof Of Life” premiere)… even better [as though that were possible]…

PS – comic genius tonight, and sorely needed… now cut back on the blogging and write the GreatCanadian PoliticalRomanAClef!…

we’re waiting…

#4 Adam on 07.16.11 at 8:42 pm

I prefer this for marketing… http://www.youtube.com/watch?v=q9LBQZ3nxCU

#5 vatoDETH on 07.16.11 at 8:44 pm

Funny stuff! Hahaha!

#6 Tim on 07.16.11 at 8:48 pm

I pay 1000 a month to rent a one bedroom. The unit down the block which is slightly smaller but newer is going for $350K. Of course it has been for sale for over two months because even the Chinese aren’t stupid enough to pay that price. At what price would it have to drop to for it to make sense to buy?

#7 Nemesis on 07.16.11 at 8:51 pm

Essential afterthought….

http://tinyurl.com/6g4a4xy

#8 Carp on 07.16.11 at 9:01 pm

Great fun! No Agents … cracked me up!!!

#9 Hoof - Hearted on 07.16.11 at 9:22 pm

Most people (aka 100% ) that bought RE East of Rockies are 4Q’d….

……..and don’t have the attention span to log onto one video , let alone (7) …if they can count that high.

#10 Burnt Norton on 07.16.11 at 9:41 pm

Speaking of dodo realtors, got a postcard ad in the mail yesterday for a $5.6M place and the listing realtor can’t even spell the local landmark properly. “Lacarno” beach. LOL. Who cares, right? Buyers probably can’t read English anyway.

http://www.sothebysrealty.ca/idx/cms/10162/details.html

#11 Bottoms_Up on 07.16.11 at 10:00 pm

Wha? A Saturday blog post? Did Hell freeze over?

Ha, I liked ‘Mars vs. Venus’ best (especially the clown).

Although the last video was quite surprising at the end. Interesting marketing tactic.

#12 Amarillo on 07.16.11 at 10:19 pm

.. Slow train … comin’ around the bend …

#13 Government Dude on 07.16.11 at 10:36 pm

squidly77: what is your fixation with realtors?

#14 Min in Mission on 07.16.11 at 11:06 pm

@ 10 Burnt Norton, looks like she is “blonde”

#15 wes_coast on 07.16.11 at 11:57 pm

….. Most of my gradeschool techers would be shocked at this phenomenon: I have nothing to say.

#16 wes_coast on 07.16.11 at 11:58 pm

… My spelling on the other hand wouldn’t shock them at all ….

#17 JohnnyBravo on 07.17.11 at 12:06 am

http://www.youtube.com/watch?v=8DYje57V_BY

#18 Prof ANON on 07.17.11 at 12:36 am

@ 6 Tim

Depends on how much rents are dropping at the same time.

#19 Ghost of Tom Joad on 07.17.11 at 12:41 am

“In 1971, the US dollar died because it was no longer money – it became a currency. There is a big difference between money and currency. The word currency comes from the word current, like an ocean current, which needs to keep moving. A currency needs to keep moving. If it stops moving, it rapidly loses value. If the loss of value is too great, people stop accepting it. If people stop accepting it, the value of the currency plummets to zero. After 1971, the US dollar began moving to zero. ” – Robert T. Kiyosaki

Presently every country in the world uses fiat based currency. Central banks are now loading up on gold again, which leads me to believe that we’re going back to using real money (i.e., gold backed). My guess is that the bullish trend for gold is going to last quite a while.

R U awake? http://www.infowars.com

#20 old phart on 07.17.11 at 12:54 am

Great way to end a Saturday. Thanks for the laughs.

This is the strangest real estate add I have ever seen

http://edmonton.kijiji.ca/c-real-estate-houses-for-sale-house-and-shop-for-sale-in-Barrhead-W0QQAdIdZ298505697#

#21 Devore on 07.17.11 at 1:05 am

First, the television commercial widely believed to have marked the very top of the covetous, calamitous, world-altering real estate bubble in the United States, circa 2005.

There are no emoticons on the internet to describe how sick I felt every time I saw that ad. There are no redeeming qualities to it whatsoever, something you can’t say about even the worst of the bad ones.

#22 a prairie dawg on 07.17.11 at 1:19 am

A good commentary about the US problem, from Rex Murphy.

http://fullcomment.nationalpost.com/2011/07/16/rex-murphy-america-destroying-itself-from-within/

#23 a prairie dawg on 07.17.11 at 1:32 am

More news…

http://business.financialpost.com/2011/07/15/how-will-this-tragedy-end-two-canadian-views-on-the-u-s-debt-crisis/

#24 Gold buggerer on 07.17.11 at 1:49 am

squiggly,
Just when I was ready to pronounce you mentally competent to resume independent living, you go and post your rage-on for realtors.
Still the same sad old man living in Rundle or Treblehorn or Marlborough or Podunk.

#25 Ben on 07.17.11 at 2:05 am

How can you short Canadian real estate?

#26 reality guy on 07.17.11 at 4:24 am

keeping an eye on East vancouver real estate

New Prices sinces are starting to pop up. Also several houses which were bought several months ago and put back on the market weeks later at an inflated prices are now having reduction in prices for 50 to 75 grands.

Also MLS listings are increasing rapidly in the burnaby and east vancouver districts

I think your right garth, Vancouver will be ground zero.

#27 Steven Rowlandson on 07.17.11 at 7:08 am

This is the day for hate against thought criminals.
The hatefull thought of the millenium is that one should buy houses that cost more than 6000 man hours worth of pay for one person. This financial thought crime must stop! It is bringing the world as we know it to ruin.

#28 keny65 on 07.17.11 at 7:17 am

Hey ghost of tom joad,I have to ask you if YOU are awake because infowars.com and it” s creator Alex Jones are a jesuit creation just like the CIA is Alex is a Jesuit Co-Adjutor.Alex will NOT talk about the jesuits EVER.He might talk about the illuminati wich is a jesuit creation to stay hidden,but he will never go to the source of all hate racism ignorance and fear…the jesuits.So beware of these false rebels on the internet who mix alot of truth to some lies to divert our attention and anger to make look over there but not over here…

#29 45north on 07.17.11 at 8:01 am

Prairie Dawg: Rex Murphy: talking about the American real estate market: nearly every one of the principals who brought such misery and shame upon their countrymen are free, prosperous, in many cases highly honoured and “serving” still at the highest levels of political and financial power.

#30 maxx on 07.17.11 at 8:25 am

Pukey u.k. service: at a supposedly good pub yesterday, was asked if I wanted lemon with my drink. Bar lady then sets aside the tongs for the purpose and shoves her mitts into the container. Coupled with an attitude that would get her canned on the other side of the pond, I realized that there is a gold mine here for anyone doing anything that is accompanied by good service.
So the ”I don’t know” video is very apropos. LOL.

#31 Bill A on 07.17.11 at 8:50 am

Noticing from reading the CREA June statistics that average price in Canada is down ~1% Month over month. Good luck finding this statistic in the press release though, but rather paragraph upon paragraph of how the market is “balanced” (whatever that means).

This is a massive monthly dip in what has traditionally been a strong month. Garth, I wonder if this could be the beginning of the end for RE?

#32 March of the Pigs on 07.17.11 at 8:56 am

#4 Adam here’s their latest one:
http://www.youtube.com/watch?v=EM5SnP95p80&feature=player_embedded

#33 2MKid on 07.17.11 at 9:02 am

You forgot ‘Keepin It Real Estate’
http://www.funnyordie.com/videos/XXXXXXX/keepin-it-real-estate

Disappointed…

Also DELETED. — Garth

#34 Mr Buyer on 07.17.11 at 9:17 am

I got some dissapointing news today. It seems that beef products with elevated levels of radioactive contamination have made their way into 33 prefectures in Japan(I have no data on levels and specific radio active isotopes). How can a farmer not know his cattle are contaminated or at the very least suspect it. I have to confirm this and get specifics (I have learned that my wife can get or explain a story amazingly upside down sometimes but I do not think that is the case here). If this is true then even here some people are willing to put the greater population at serious risk due to self interest overiding community interest. I will say this, it is a much more serious offence here, maybe not in law, but it is serious. I have no idea how this will unfold, I simply can not predict what action will be taken. It could go either way. My Canadian sensibilities still now interfere with my understanding of a situation and its ramifications. It is such a contrast with the impressive conduct of these great people in the face of real peril. This matter is one of the very few times I have heard vociferous disaproval from Japanese aquaintances. As a result of this I have checked to see if the milk supply is monitored in our prefecture and as it turns out it is NOT. Contamination levels are monitored daily and there are no radioactive isotopes detected, but low levels of contamination can become concentrated in organisms. My 18 month old puts away at least half a litre a day or more. I have no intrest in seeing him develop Lukemia. My cage has been rattled a little today. I am a little less sure of our continued safety but I think in reality we are still fine for now but I must look into this more . I still monitor local radiation levels and buy locally produced milk. Where are you if you have lost confidence in the food supply…The Japanese need this like they need another hole in the head right now but I am certain life will continue on, production levels will continue to rise from recent lows.

#35 salonist on 07.17.11 at 10:06 am

“The struggle to eat”

http://www.economist.com/node/18958475

#36 TurnerNation on 07.17.11 at 10:18 am

Hey, isn’t blog dog Carney making an announcement this Tuesday?

#37 Wise Guy on 07.17.11 at 10:26 am

Out for dinner last night for my friends 40th birthday and we get into a debate about Real Estate as it was also on the front cover of the Saturday Toronto Star, an article stating that housing will drop 10-25%.

The argument that most put up was, “If real estate isn’t strong, why are they building all these condos”. As we looked up, we could see cranes everywhere here in Toronto.

I agree with Garth and it is only a matter of time, before this madness continues in the housing sector. With more and more articles in the media, soon people will realize how crazy they are to be getting into bidding wars.
http://www.youtube.com/watch?v=iQNdi-fRExc

#38 Calgarygirl on 07.17.11 at 10:35 am

#20 – I think that is pretty common now. I have a friend who is giving $10K cash back and her car with the house. I think Calgary and Edmonton are done.

That ad is what is wrong with this North America – gluttony.

#39 Utopia on 07.17.11 at 11:16 am

Well, I just had to know what it was about “keepin it real estate” that would earn it a site deletion. Never did find the video but instead I came across this gem of a commentary from Realtor Jamie Stutzman in Cincinnatti.

Jamie gushes about the opportunities to buy even while admitting average prices dropped 10% last year. You might have guessed that the house pumping in the US had ended with the collapse of real estate. You would have guessed wrong.

Here’s Jamie with her sales pitch. Her logic and pressure tactic seems a little confused to me. I love the last line.
———————————-
“Should I really buy a house right now? To Buy or Not to Buy, that is the question……..I come across this question all of the time, especially in this market. Many people I feel want to take advantage of the market, but they’re just not sure if NOW is the time or not. When is the perfect time to buy? We will only really know that once prices start going back up, then everyone will say “that was the time to do it.” However at that point, it will be too late. The market will have started to recover. There are signs pointing to recovery, but I think there is still a ways to go. Does that mean that buyers should sit back and just wait? I don’t think so. There are too many good incentives to let this market pass you buy.

Will home prices get better? Maybe, but maybe they won’t. If you read my last blog post you could see that home prices in Cincinnati dropped 13% on average when compared to last year. And as I mentioned in that post, as inventory shrinks and more demand is created, prices will start to climb back up.

Get the prices now while we KNOW they are low. It’s the law of supply and demand.

Another great incentive are the low mortgage rates we are seeing right now. I don’t think that today’s first time home buyer really appreciates the low rates we’ve got going right now. They will all be in for a shock when they go to sell 5 years from now and may have to pay quite a bit more. Today’s rates, although they fluctuate a lot, they are still historically low, generally between 5-6%.

Once everything starts to bounce back you can pretty much kiss these sweet deals good bye…”
——————————

Yeah…goood one Jamie. Buy now or be priced out forever! Ha Ha Ha.

#40 Snowboid on 07.17.11 at 11:25 am

Real estate sales up in UK…

http://www.youtube.com/watch?v=HAeprWIOQqQ&feature=related

#41 BrianT on 07.17.11 at 11:34 am

#22Prairie-Good article, but it is always amusing to see the MSM twist itself into knots distancing itself from “conspiracy thinking” yet simultaneously supposedly “exposing” stuff known for years by “crazy conspiracy wingnuts”. The guy goes out of his way to explain to his brain dead readers that reality doesn’t actually exist until someone from the NYT says so-the same rag that is caught being paid off almost monthly.

#42 old phart on 07.17.11 at 11:49 am

#38 Calgary Girl..”think that is pretty common now. I have a friend who is giving $10K cash back and her car with the house.”

Talk about comedy…what kind of idiot would want their own ten grand and a used car given back to them with a 30 yr mortgage on it?

#43 bill on 07.17.11 at 12:07 pm

Thanks Garth
hard to say which one is the funniest but the ‘evil in the basement’ and ‘no asians’ had me on the floor.
well done.
and the ‘neighbors knocked’ was funny too…

#44 Timing is Everything on 07.17.11 at 12:29 pm

Garth, any reason to doubt these numbers? I wonder what the numbers will look like come April 2012? Could be a ‘What a difference a year makes!’ kinda thing.

http://tinyurl.com/3jzosbq

#45 jsan on 07.17.11 at 12:37 pm

#34 Mr Buyer on 07.17.11 at 9:17 am

…….. Where are you if you have lost confidence in the food supply…The Japanese need this like they need another hole in the head right now but I am certain life will continue on, production levels will continue to rise from recent lows.”

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

We are probably pretty safe as long as there are no more explosions. That’s what sends the material into the jet stream and brings it our way. I’m not sure that I would trust any seafood that has been harvested from around the Japanese area. There was an awful lot of radioactive water released into the pacific ocean.

http://online.wsj.com/article/SB10001424052748703712504576244251331137870.html

#46 grantmi on 07.17.11 at 1:17 pm

Schadenfreude of the week!

Looks like Ozzie is in deep water! (Innocent of course till proven in a court of law)

http://bit.ly/pJWvQb

He’s always been a real estate shill on Michael Campbell’s CKNW money show on Saturday’s out here in Lotus Land.

Now that he’s got the spot light on him by David Baines! ouch! not good!

Wonder how Ozzie’s accent would sound saying – “Do you want Fries with that!??”

#47 TurnerNation on 07.17.11 at 1:24 pm

Zillow.com is floating an IPO!

http://tinyurl.com/6d37d5q

Zillow ups IPO price, valued at $500 million
(AFP) – 1 day ago

NEW YORK — Online real estate listings website Zillow increased the price of its initial public offering Friday, valuing the company at up to $500 million.

Zillow, in an updated filing with the US Securities and Exchange Commission, said it was increasing its debut price to between $16 and $18 a share from the initial $12 to $14 a share.

Zillow, which will be listed on Wall Street using the ticker symbol “Z,” plans a placement of 3.46 million shares of common stock and as many as 3.98 million if there is strong demand from investors.

#48 Harlee on 07.17.11 at 1:24 pm

Utopia- Well I did find that video “Keepin’ It Real Estate” and then wished I hadn’t. It’s just a very crude “comedy” with a very questionable ending that I won’t describe here. Garth had every right to ban it from this site.

#49 TurnerNation on 07.17.11 at 1:35 pm

Economic items that make you go Hmm….

Air Force buys Chinese planes

The Air Force Academy recently purchased 25 advanced trainers from Cirrus Aircraft for its powered-flight program, an integral part of the cadets pilot training.

After Cessna, the Minnesota-based Cirrus Aircraft is the worlds second- largest manufacturer of single-engine general aviation aircraft. The new planes, known as T-53A trainers, come with sophisticated avionics and the most advanced flight safety and recovery design and systems. They are custom-designed for the Air Force based on Cirrus SR20 model.

The deal is worth $6.1 million. Delivery is already under way and is expected to be completed by 2012.

One problem is that Cirrus Industries Inc., the aircraft maker’s parent company, is 100 percent owned by the Chinese communist government. It was purchased by the Chinese in March 2011 for a reported $210 million.

#50 Utopia on 07.17.11 at 1:49 pm

#35 salonist on 07.17.11 at 10:06 am

“The struggle to eat”
http://www.economist.com/node/18958475
———————————————

Thanks for that link Salonist. I really had no idea the situation down South in the U.S. was quite that dire or that the existing programs for basic food relief were under threat.

Are politicians going crazy in America now?

The seeds of despair and social upheaval could not be sown more effectively than to reduce food programs for the poor at a time of limited opportunity for work. At a time when living wages and incomes are so under threat.

Hell, both the French and Russian revolutions were born under circumstances of serious hunger and income disparity. What is really astonishing to me is that even Third World Governments would hardly imagine cutting such aid where food shortages commonly exist. Governments there seem to have a better understanding of the close connection between political unrest and shortages.

But poverty itself amongst a large segment of the population is just another symptom of a distortion in the economy. We are already well aware of the widening gap between rich and poor and why this has led to a crisis and wealth deficit even amongst the middle class.

In general, there are just too little savings available to propel the economy back to health. Savings of course are the energy and the seeds of economic renewal.

I was surprised by the comment in that article where I read that the typical savings on hand amongst the millions of needy Americans was little more than 100 dollars (for those receiving food stamp benefits). Now how the hell can you be self reliant when you don’t have enough money to buy even one good pair of shoes?

The crazy part is that I personally know people here in Canada who work full time and also do not have that much in their account after the bills are all paid.

They merely live from paycheque to paycheque; just one pink-slip away from a new life on EI or welfare and insolvency itself. So we are really not that different up here except that our economy is busy, our unemployment rate relatively low, while the US languishes in an ugly recession and an epic debt crisis.

Ben Bernanke had commented recently that he could not understand why the US had not yet emerged from recession. I thought that was an amazing remark.

Surely he must know that personal debt levels and low savings rates lie at the heart of the problem. On this site we often hear Garth intone that too many of us in Canada have too much invested in a single asset.

Our homes.

He hammers away on the drum of diversifying into financial assets and reducing the risk that comes with falling real estate prices. He worries out loud yet few seem to be really gathering the sageness of the advice.

The core message here at Greaterfool is repetitive but it cannot be criticised. Some of us might even tune it out because it does not really resonate with most here as long as times are still relatively good.

We rarely stop to consider what it is like to actually run out of resources (money) altogether and end up dependent on the system for support. For years even.

Like 45 million Americans have. One in seven.

Naturally we all just assume support will always be there for us. This kind of thinking creates and environment of complacency as fear of hunger has been removed from our daily list of worries. That dangerous sentiment never existed in this country until universal entitlement programs came into being though.

You younger readers will hardly even appreciate how recent many of our social programs are. Other than government sponsored food aid (which was created in the Great Depression) almost all our programs to support the elderly (pensions), the poor (welfare), the sick (universal medical care) have come into being in just the past 50 years.

That is called “recent history” if you are curious!

Prior to the introduction of our safety net, people worked to save for their own benefit and that of their families. Not doing so meant the poor house, begging or worse.

Today we just assume the government will take care of our core needs of course…therefore we do not need to exercise personal financial responsibility or make efforts to set aside funds for a rainy day. Who needs to plug quarters in a piggy bank or invest when others will do it for us and provide the jobs we all need?

Indeed.

Millions upon millions of Americans are now discovering the bitter facts behind that fallacy. What they are having to contend with is the ugly reality that sometimes the government will not be there to offer even the most basic of safety nets. Food guarantees themselves can be threatened with elimination or reduction if the Republicans have their way.

So what of pensions, welfare and free medical services?

I think the point I am trying to make here is that savings really do matter if you want to preserve your independence and have the opportunity available to start an enterprise should our own economy end up like the one America is now experiencing. Having the resources to earn your own living has never been so important.

Real estate in Canada, at 70% ownership rates is now stalling because it has simply run out of buyers (and thus buying power). As equity in homes evaporates in the coming downturn we will become more reliant on other forms of resources to buoy us forward. We will need money to buy our own new opportunities. By that same token, breaking out of recession requires the simple power of capital.

You either have it or you don’t.

Those that have set aside funds for a rainy day will be in a position to create employment for themselves as the reinvestment process begins anew.

Recessions, if you don’t know, are the fertile breeding grounds of new ideas and small business start-ups. It is a time in the cycle when people stop being complacent and dependent and begin working to create private endeavors again. Entrepreneurialism thrives.

Normally.

What Mr Ben Bernanke seems to not understand is that when US home equity values plunged, so did the wealth that might have been available to propel the economy back into recovery. Cheap interest rates meanwhile that had encouraged consumption instead of savings left much of the population totally unprepared for a major economic slowdown. There was just no money available to begin the rebuilding process again.

That is where Americans find themselves today.

So in Canada, as “buying power” for homes declines and our own housing market melts away bit by bit as a result of over-consumption in real estate, we need to keep our Southern neighbors difficulties in mind. And we need to prepare now knowing full well that when our own real estate market heads down that we will face similar hardships.

Let’s just hope enough people are paying attention.

Let’s hope there is enough “investing power” and savings available to grow our way back to economic health again.

OK. Lunch. I’m hungry.

#51 Utopia on 07.17.11 at 3:02 pm

#30 maxx on 07.17.11 at 8:25 am

“Pukey U.K. service: at a supposedly good pub yesterday”
————————————————

Man you said it Maxx. Of course tipping is not the tradition there. One of my biggest disappointments after staying in London was the terrible attitude of servers in bars and restaurants. Some of them were just rotten. Other places just gave you the piss-off treatment once you were seated (not the tourist joints, but the places for local regulars). The best bars were all staffed by foreigners from Australia, Canada and the US who understood the value of working for a tip.

Less attitude, no rude service.

#52 jess on 07.17.11 at 3:28 pm

contrast and compare –

Basic Compensation Name Fiscal Year Total
James Dimon 20,816,300

Attorney General Lisa Madigan – “JPMorgan Chase concocted a scheme to enrich themselves by cheating hospitals and schools out of much needed resources.”…Today’s $92 million multistate settlement will restore funding to agencies throughout Illinois for use as they originally intended – to improve services in their communities.”
Due to such schemes to rig bids and engage in anticompetitive practices that defrauded local municipalities, schools, hospitals and prominent nonprofits that purchased municipal bond derivatives from the bank.
============
The Securities and Exchange Commission on Thursday said J.P. Morgan (NYSE: JPM) has agreed to pay $228 million to settle allegations of rigging municipal bond deals.As part of the settlement, J.P. Morgan will return about $51.2 million to municipalities and borrowers affected by the fraud, according to a statement released by the SEC. In addition, J.P. Morgan has agreed to pay an additional $177 million to settle similar charges brought by other federal and state
=========================
Efficient market
http://www.youtube.com/watch?v=wgokq_nCmow
JP Morgan is the largest processor of food stamp benefits in the United States. JP Morgan has contracted to provide food stamp debit cards in 26 U.S. states and the District of Columbia.

Amy Kempe, spokeswoman for the governor’s office in Rhode Island, learned that JP Morgan was sending the state’s food stamps calls to India but now keeps them all domestically. Kempe later told ABC News however that JP Morgan was still routing calls for unemployment benefits to India. Unemployment in Rhode Island now stands at 10.5 percent. The banks also get a fee for each case they handle.

Take Indiana. JP Morgan gets 62 to 64 cents for each food stamp case handled monthly there. With 296,245 cases right now, that means the state is paying JP Morgan $183,672 a month on top of any other fees it collects. 488,000 Tennesseans households are signed into the program. There are no federal or Tennessee state laws prohibiting the outsourcing call center operations. Unemployment in West Virginia is now 6.9 percent and 9.6 percent in Tennessee.

Americans on food stamps has exploded from 26 million in 2007 to 43 million today.”

http://abcnews.go.com/Business/Economy/story?id=7452561&page=2
http://seekingalpha.com/article/247234-jp-morgan-profits-from-food-stamp-processing-business

#53 Imstupid on 07.17.11 at 3:46 pm

Hi Garth

You responded to me yesterday, I was wondering on what grounds could he sue? Isn’t the deposit a mutually agreed price for binding the contract? Would the buyer have the right to sue if the builder gets more than 1.5 mil? Just playing devils advocate, would the court rule that the builder should have asked for the required deposit to bind the contract, what would stop the builder from selling to a friend for 1 mil and suing for another 400k? I find it hard to believe that it would be that easy to milk a buyer from a bad deal. I could be wrong could anyone comment on thoughts.

Once you sign the offer you are on the hook and are obligated to complete the transaction. Failure to do so means the vendor can sue you for damages, which include but are not limited to the difference if the property is sold for a lesser amount. You have no defence. — Garth

#54 eva on 07.17.11 at 4:20 pm

Went across the border yesterday. Bellingham was busy as usual with BC folks taking advantage of our strong dollar. Decided to drive further south to Burlington..wow what a difference. The shops were all so quiet, it was spooky! The home depot had about 3 people in the store, other than staff. I have been coming here for years, never have I seen this before..on a Saturday! It felt like a ghost town…THIS WILL NOT END WELL! It is only a matter of time before we feel it. I think it is time to believe the “gold bugs”.

#55 Devore on 07.17.11 at 4:33 pm

#39 Utopia

Once everything starts to bounce back you can pretty much kiss these sweet deals good bye…”
——————————

Yeah…goood one Jamie. Buy now or be priced out forever! Ha Ha Ha.

One thing you can be sure of, there will be plenty of time to find great deals, it’s gonna drag for years once it hits bottom, there’ll be no rocketing up.

#56 Coho on 07.17.11 at 4:46 pm

It appears there are many things humanity has acquired that it doesn’t really understand the workings of and it makes one wonder the origin of many of the inspirations such as developing WMD. Some complete societies such as the Sumerian culture seemed to have sprung up overnight.

Today we have economists with varying opinions and different beliefs, but it seems no one truly understands the complexity of global economics.

The nuclear issue is another one. How is it we can develop technology which we ultimately can’t control or really understand? It is like someone or something has given a “toddler” a loaded gun. It will eventually learn how to fire it but not fully understand the consequences of its actions.

This whole Japan Fukushima nuclear issue and the fallout is an example of a civilization unable to deal with the monsters it creates. It seems unnatural…it doesn’t jive, the degree of progress in technology humanity has made over the past couple centuries while its ability to deal with the negative fallout and consequences of such technology remains infantile.

And of course we hear, “we’re all right for now”, or “we should count our blessings” or “we’re lucky” while one group, one nation after another is being systematically screwed. What was that saying at the time of Nazi Germany:

When the Nazis came for the communists,
I remained silent;
I was not a communist.

When they locked up the social democrats,
I remained silent;
I was not a social democrat.

When they came for the trade unionists,
I did not speak out;
I was not a trade unionist.

When they came for the Jews,
I remained silent;
I wasn’t a Jew.

When they came for me,
there was no one left to speak out.

In Seattle, it was calculated that people were breathing in on average six “hot particles” per day during April and May. These radioactive particles get lodged in the lungs or in your bones and organs which can or will eventually lead to cancer. In Tokyo the number was ten hot particles. Not a whole lot of difference, and it is unborn fetuses and babies that are most affected. There was an article in the Vancouver Sun a couple weeks ago stating the infant mortality rate has dramatically risen this year. Connect the dots.

Of course the authorities are not going to be forthright about what is happening. They are opaque in other much less serious matters, so what do you expect them to announce about a contaminated water and food supply, that we’re all screwed? It is shaping up that some of us won’t have to worry about outliving our money…

Someone the other day mentioned 85% of the people on this planet are considered poverty stricken, but that we should be thankful we’re not. It is this mentality, this complacency, which allows numbers that began at close to 0% to swell to 85% and soon to 99.9% because few speak out in support of the oppressed and disenfranchised while the numbers are still low. Our ego likes to think we are spared or preferred by god or whatever because we are smarter or better. But, we’re well on our way to getting our turn.

This is why it seems almost certain humanity will fail as a species because people of all shapoes and stripes are “wired” to be concerned only with themselves and their immediate family. This allows us to be to picked off one by one with nary a word of protest to be heard.

#57 Devore on 07.17.11 at 4:47 pm

#53 Imstupid

Well, it’s a contract, what are the clauses governing termination? If you do not have an out clause, you’re liable for all losses and costs plus considerations and punitive damages. Also see, presales. You think if you walk you just lose your deposit, but the builder has every right to go after you for the price difference and more. They may not, because it’s bad for their image, or they found a buyer to pay more.

Contracts are very simple. If it’s not in there, you don’t have to do it*. So if you want a deal you can walk from any time, it will be in there, and you will be paying more up front. Much more.

(*) There are some things that the laws governing contracts imply. Like, you can’t sign up to be someone’s slave, or sell your kids. That’s all void.

#58 palebird on 07.17.11 at 5:03 pm

56

Coho you got it all in a nutshell, well done..

#59 Markey on 07.17.11 at 5:25 pm

Wow, somebody’s upset: http://www.theeconomicanalyst.com/content/more-bit-disappointed-garth-turner

#60 TurnerNation on 07.17.11 at 5:46 pm

#20 old phart on 07.17.11 at 12:54 am

That guy is a poster child for Albertans and their many expensive toys!!

They must grow up and focus on the essentials of life. You can rent quads, boats, planes.

#61 Imstupid on 07.17.11 at 6:02 pm

Thanks Garth and Devore

You learn something new everyday. I was truly stupid on this one. That’s why I did not speak, I had no idea about deposits and contracts. Now I have a little more understanding. This makes me a bit more wise. Eventually I can change me name to I’m really smart but it will take some time.

#62 Timing is Everything on 07.17.11 at 6:52 pm

#59 Markey

I guess the internet isn’t big enough for all the kiddies to play nice. Still, as usual, entertaining, in an amusing sort of way.

Any who, read some of Ben R’s site and it seems just fine.
I gotta get out a little more.

#63 Utopia on 07.17.11 at 7:17 pm

This week in Money. (TalkDigitalNetwork.com)
First guest up is Garth Turner. Listen to it here:

http://talkdigitalnetwork.com/2011/07/week-money-25/?utm_source=weeklyrecap&utm_medium=email&utm_campaign=Weekly%2BRecap

But that’s weird…..Where is Ben Rabidoux?
———————————————
Ben who?

#64 miketheengineer on 07.17.11 at 7:27 pm

Garth:

What is the real rate of inflation?

Let’s see…gas at $1 per liter till Dec 2010.

Let’s see…gas at $1.30 per liter…July 2011.

30% increase in 6 months….wow…now that’s a big pay increase for those execs who run those companies.

Screw everyone, take their last cent. Then make the working class people take a pay cut, then raise the price of everything.

Screw the little guy…make them pay for our gold plated toilets and high end cars..scream the over paid execs…I need a bigger home, bigger yacht…more for me they scream.

I think the real rate of inflation is 30%.

All other stats are bull, made up to fool you and me.

The price of oil jumped as the Arab Spring hit places like Libya. Oilco execs had nothing to do with that. — Garth

#65 Get Real on 07.17.11 at 7:37 pm

#59 Markey
Wow, somebody’s upset: http://www.theeconomicanalyst.com/content/more-bit-disappointed-garth-turner
______________________________________________

Ben writes well and so does Garth. If you do not like my advice then do not take it. If you do not like something or somebody, make your point graciously and leave. How difficult is that?

Not trying to take sides but you cannot be a cry baby and expect to be taken seriously. Its amazing how everyone has this huge sense of entitlement.

#66 45north on 07.17.11 at 7:41 pm

Markey: a followed your link and posted the following:

Ben I read your original post at greaterfool.ca Yeah, Garth should remove the comment. Trouble is Garth is using his blog to find out who he can be. I mean, its the internet, who knows?
Garth has no way to ensure that a name is unique, can someone else post on this blog as 45north?
Oh and there was Moneta, she used to post on greaterfool.ca until she and Garth got upset with each other.
Par contre, thehousingbubbleblog.com seems to have a group of people that know and trust each other. I mean real people not personas.

#67 ontheshoreline on 07.17.11 at 7:44 pm

Garth at one point remarked he didn’t know what the traffic on his website was and he didn’t care.
guess that’s changed.

I know what it is. I still don’t care. Just so long as you’re here. — Garth

#68 Mr Buyer on 07.17.11 at 8:29 pm

#56 Coho … I have to agree with the stepwise nature of the divide and conquer strategy. I have to take exception with your assertion that we do not understand. We have considerable scientific understanding that would allow us at the very least to error on the side of caution as we develop (our pace of development is also greatly slowed with the market taking large periods of time to adapt in some cases). What seems to be true to me is that our scientific understanding is largely disreguarded and made secondary to economic ‘realities.’ My earliest inkling of this came when an elementary teacher explained that remediation of chemical pollutants resulting from industrial processeses was not factored into the Research and Development of said product. It is then that I knew scientists were not at the helm. What scientist would find it acceptable to release a chemical into the environment without a good understanding of its potential adverse effects and probabilities of such effects. What keeps me up sometimes is the thought that scientists are human first and in the shelter of darkness can escape accountability and minimize their sense of duty and responsibility. It is such people of my ilk for which I have the greatest sense of contempt. A greater capability brings with it greater responsibility. Having said all this our greatest difficulties arise because scientists do not and scientific reasoning does not presently hold sway (A good engineer and scientist would not have ignored the propensity for tsunamis and would have either over engineered or found a location other than Fukushima). Humans will not realize many of the benefits of the age of science until scientists hold power. A CEO and board of directors running a nuclear reactor, its laughable (unless of course they are all scientists not subordinating safety to profit).

#69 Tripp on 07.17.11 at 9:20 pm

“House porn. I’m making this woman Executive Editor of this blog.”

Garth, since your company is oviously expanding, I assume you will be in need of new positions soon.
Please let me know if she needs an Executive Assistant.

#70 Steven Rowlandson on 07.18.11 at 7:11 am

Hello Garth.
I found this link at the Keiser Report website.
http://articles.timesofindia.indiatimes.com/2011-07-16/hyderabad/29781278_1_cheapest-home-nano-tata-group
It seems some one in the world is attempting to design and build affordable homes as a kit.

#71 disciple on 07.18.11 at 7:40 am

#28 keny65…good point, but go easy on the Ghost, he’s on the right path. But I must ask you, are YOU awake, because the Jesuits are a creation of the Brotherhood of the Snake, which in turn are the creation of the progeny of Cain, who are in turn the creation of the Serpent himself, who in turn is the creation of macrobes of the lower fourth dimension, who in turn…

Do you get my point? If you are not willing to go down the rabbit hole, at least don’t stop others from doing so…

#72 disciple on 07.18.11 at 7:56 am

#45 Jsan…My family eats a lot of seafood, fresh and frozen from the supermarkets here in the Toronto area. Would any of our seafood be from the Japan area that is affected? How would we know?
Thanks, and any info would be greatly appreciated -disciple