Buyer education

GreaterFool. Making married women content, one babe at a time. Details below.  Meanwhile, fresh evidence has just been delivered to this pathetic (but virile) blog that people who can’t pass basic literacy or math tests, have trouble speaking or being understood, and think syntax is the cover charge at a strip joint, make great realtors.

A blog dog sends this link to ‘Real Estate Land’, which is being included as buyer education material on a Regina agent’s web site. If you ever needed proof we are in serious trouble, check out this excerpt on why renters are dumb and owners rock:

Preferably of installment payments disappearing in to someone else is pants pocket, home masters are setting up equity in their own home. This is one on the person’s primary investment assets. Each and every year that you hold the house you pay out more for the principal, which will be money you will definitely get back when the home stocks. It is having an important scheduled piggy bank that grows up faster this longer it is. If house appreciates, and usually it truly does, it is definitely money for you. And you are the one whom gets to look at advantage of their, not the owner. You can use this particular equity that will plan meant for future objectives like your kid’s education or your retirement life.

See how easy this is, kids? Grow rich while remaining sub verbal. The scary part, of course, is that such people are allowed to have any role whatsoever in helping others make massive investment decisions.

Speaking of investing, this week marked a full recovery by stock markets, almost exactly two months after we were told to corral the virgins and head for the root cellar. The systemic financial collapse did not happen. The banks still stand. No recession or depression. Just smug smiles on the faces of those who understood that when stuff you like gets 20% cheaper, you buy more of it.

So, markets are back in positive territory for the year and the news keeps getting better. Corps like Google making tons of dough; US consumers shelling out way more money; Canadian factories busier; Europe getting its ducks in a row; and the realization Greek can go pointy-side-up and not much is gonna happen. This is not 2008 – for almost all investment assets – with the exception of real estate.

There’s simply no escaping the debt piled on by the masses, the over-consumption engulfing society since emergency interest rates took effect, or the appalling state of personal finances among 95% of the population. This is why housing is cooked. We no longer need a spike in mortgage rates or a plunge into recession. The simple truth is that demand for properties can only wane as the ability of most people to buy them fades.

And unlike shares in Apple, Google or Suncor, unlike REITs, preferreds or corporate bonds, residential real estate needs societal madness to flourish. Price increases are directly proportional to the lustful delusion of the many. Financial assets, in contrast, are more often priced for the potential profits of the underlying companies, plus the income they throw off. So when 70% of us have houses and 8% have stocks, you know what comes next.

It’s an obvious lesson. Reduce your exposure to those things of the greatest risk, and diversify into to those with the most potential. Sell real estate, buy liquidity. Ensure no more than a third of your net worth is in your house, or that you have a solid plan to get there. Finally, if you rent, give thanks. In the fullness of time you’ll buy for less, owe smaller and live better.

Hell, you might even be content. And when’s the last time you felt that, if you live in Vancouver or 416?

This brings us to Liz. She saw me sulking over my moist keyboard last evening, brutalized at the hands of the thug doomers and the acerbic metallics. Here’s her note. I so love being mothered.

Dear Garth: I’m writing you this email in the hopes of helping you feel better and to let you know that you virtually saved my marriage.  Before accidentally stumbling on your blog I was an ignorant wife who nagged my husband over and over to buy house.  We have one child with a second planned for next Fall, and we rent an apartment in a very nice area by a lake.  At the time, I was almost contemplating separation over the house issue.

However, on a particular low day, I decided to google Canadian house Bubble and that’s when I found your blog.  I have been reading it ever since.  My husband, (not a blog reader) has noticed my sudden contentedness and has never been happier.  We are currently debt free and investing in our small landscaping business and TFSAs.

Thank you for taking the time to publish this blog.  Judging by a few of the comments, you have saved a few other Canadians from really stupid mistakes.

Sincerely, Elizabeth

212 comments ↓

#1 fancy_pants on 10.14.11 at 8:49 pm

How long can the housing madness last?

http://ca.finance.yahoo.com/news/How-long-housing-madness-last-canadianbiz-3293028130.html

#2 Rash on 10.14.11 at 9:04 pm

I’m second :D

#3 Renters Revenge on 10.14.11 at 9:06 pm

Looks like a few of the Greater Vancouver realtors are starting to get a bit spooked:
http://www.cbc.ca/news/canada/british-columbia/story/2011/10/14/bc-realtors-hst.html

#4 WeEeeee on 10.14.11 at 9:09 pm

Separation over the house … damn, the man should have been smart and left YOU!

#5 T.O. Bubble Boy on 10.14.11 at 9:13 pm

At this point, shares in Apple need societal madness to flourish, and price increases are directly proportional to the lustful delusion of the many.

Austerity measures around the world will not be good to the house that Jobs built.

#6 T.O. Bubble Boy on 10.14.11 at 9:18 pm

PBS reporting on the Chinese Housing Bubble:
http://www.pbs.org/newshour/businessdesk/2011/10/chinese-housing-bubble-a-troub.html

#7 WatchingItAll on 10.14.11 at 9:22 pm

It’s very scary to see that some women will say this “At the time, I was almost contemplating separation over the house issue.”
I can’t imagine a material item like a house would cause a woman to threaten her marriage. I wonder what the vows were…

#8 Geroy Simon on 10.14.11 at 9:23 pm

Elizabeth, u’r husband does not need a person who is willing to divorce over a stupid house.

I’m gonna score 2 touchdowns this weekend for your hubby. Poor sap.

#9 Smoking Man on 10.14.11 at 9:46 pm

Elizabeth

What if Garth and the rest of us bubble heads are wrong, what if the herd, products of the education industrial complex, you know the zombies with degrees granted by going into debt and memorizing regurgitating obedience cultism don’t see our logic. After all they worship main stream news….

You’re screwed, prices will go on for ever, sitting on the side lines you are making a bet against the cult…….The Herd. And those big breasted blonds that want Garnet, and goofy hubby will cave……..for a feel………
…………………………………………………………………..
Westernman, answer to your question previous thread re spelling, when I post from the Black Berry, spell check is turned off, Truth is I’m blind as a bat, can’t see the keys or what I am typing. Don’t want glasses to wreck my image, not to mention in addition to being Dyslexic, and the other metal problems I have, I think you can add split personality disorder to the equation. Lets not forget, lsd, pot and wine…………………………….

The rebuttal from two days ago was plagiarized (Paranoid Schizophrenic) with a few edits to make it sound like I wrote it…………….

How can you honestly believe I could rite something like that…….

#10 Maxamillion on 10.14.11 at 9:48 pm

Liz,
You must be some really hot useless chick. You want him to buy a home in order to make the second dumbest decision in his life.

#11 Habbit on 10.14.11 at 9:56 pm

#8 Geroy
You must be playing the Riders this weekend.

#12 Habbit on 10.14.11 at 9:58 pm

Elizabeth. You have lost your way. Be thankfull your familly is still together cause you don’t deserve it.

#13 Marc L on 10.14.11 at 10:00 pm

Nice Video On Money and Banking

http://www.youtube.com/watch?v=iiHC-sRD_t4&feature=related

#14 Habbit on 10.14.11 at 10:00 pm

#10 Maximillion
Right on.

#15 Devil's Advocate on 10.14.11 at 10:11 pm

#136smoking man on 10.14.11 at 5:18 pm
Westernman let me set the record strat
I don’t support the yamaca heads or the towel heads in fact if all the religious nut cases decided to go to war with each other that would be fine with me. In fact the more religiuos extreamest that get taken out the better the world will be bette

If you beilive in any god your an idiot

Ouch.

Ouch!

Not even am I of such belligerence that I could so carelessly pee in so many others Corn Flakes. Not that I entirely disagree with you mind you.

As an implied “Humanist” you must be familiar with the thoughts and writings of Thomas Jefferson. If so, you could offer this blog some real contribution as so many of Jefferson’s ideologies have never been so timely as today.

#16 DM in C on 10.14.11 at 10:12 pm

#11 Habbit

HAHAHAHAH Exactly my thought.

And this woman, Liz, must be ridiculous to contemplate single parenthood just because the spouse won’t buy a house. “Let’s mortgage our future honey, so you can work into an early grave and I can stay home and watch the kids”

Ugh.

#17 Devil's Advocate on 10.14.11 at 10:17 pm

And what is a Humanist if not an Atheist afraid to admit they are an Atheist?

#18 Gerry Beauregard on 10.14.11 at 10:19 pm

That first quote (from http://real-estate-land.info) reminds me of computer-generated text. For years, people have been creating software to analyze collections of articles to get statistics on the probabilities of individual words and word sequences. Armed with those probabilities, the software can then churn out new text that at first glance like it might have been written by a human with bad grammar, but is in fact total nonsense.

At the very least, some of the comments on the site are surely computer-generated, for example this one on the “About Us” page: “I image this could be diverse upon the written content material? having said that I still imagine that it can be suitable for nearly any type of subject subject matter, as a result of it could ceaselessly be gratifying to decide a warm and pleasant face or possibly pay attention a voice whilst preliminary landing.” It would take serious pharmacological assistance for a human to come up with that!

#19 Mr. Lee on 10.14.11 at 10:19 pm

“See how easy this is, kids? Grow rich while remaining sub verbal. The scary part, of course, is that such people are allowed to have any role whatsoever in helping others make massive investment decisions.”

I agree the ethical compass of many in the real estate market business has a lot to be desired. However, it is the onus of each individual to investigate the obligation that they going find themselves in. Caveat Emptor should be the motto for all that make large purchases on long term debt commitments.

#20 Smell The Coffee on 10.14.11 at 10:24 pm

Don’t pee on your mortgage… its also out of financial order.

#21 A Fan in Van on 10.14.11 at 10:37 pm

Liz — ignore the idiot commenters. Good job finding this blog and seeing reason.

#22 Kalergie on 10.14.11 at 10:38 pm

#10 Maximillion
Spot on!!!!

#23 Pete in Barrie on 10.14.11 at 10:43 pm

Actually, I want to comment about the first letter rather than the second. I have just been spending a fretful evening reading grade 10 essays on LOTF and was exhausted with all the grammar errors. Then Garth has the audacity to share that piece of crap. I wonder what level of education some of these real estate agents have.

On the other hand, I do enjoy reading Garth’s writing – a coherent, literate, and witty former politician. And, yes, something is happening with real estate, even in Toronto’s bedroom community of Barrye where every second house in my subdivision has a For Sale sign.

#24 Peter on 10.14.11 at 10:44 pm

English as a fourth imaginary language???
Sounds like a really bad Google translation.

#25 Tri-State Pat on 10.14.11 at 10:44 pm

Elizabeth,

“contempating seperation over the house issue”

What are you gonna do when you have a real issue?

#26 Nemesis on 10.14.11 at 11:11 pm

“…think syntax is the cover charge at a strip joint…” – Hon. GT

Perhaps you should try your hand at FilmNoire, GT? Chandler would’ve loved that one.

#27 Moneta on 10.14.11 at 11:19 pm

WatchingItAll on 10.14.11 at 9:22 pm
——–
LOL! As if most men don’t have obssessions fo their own… Let’s not mention even faster depreciating assets like t&a, cars, football

#28 Harlee on 10.14.11 at 11:29 pm

#11 Habbit to Leroy: Well,he could be playing for the Argos you know.
As far as Elizabeth: She was leaning to the Dark Side but thanks to this pathetic blog came around and made a decent decision. Let us
applaud her for that much anyway.
About that photo: Did you hear about that restaurant in Vancouver that is banning men from peeing while standing up . A real news release. Only on the loony coast eh…

#29 WI BOOMER on 10.14.11 at 11:31 pm

Liz-

Glad you have made a rational decision. A house is NOT a home. A house is a dump you might own, rent, or an apartment, or even a large cardboard box.

A home is where the love of your life cames back after a day of work, or looking for work. A home is where the memories of your family are made. Where you learn to be a wife, mother, be content, where everybody learns patience, has fun, and understands the limits of life.

A house can be a nice addition, when you are financially ready for one. Do you have 20% for down payment?
Is your payment no more than 25% of your gross income based on 15-20 yr note? Are you debt free except for the planned home purchase? IF you have answered “NO” to any of those questions, your family, my dear Liz, are not financially FIT to buy, and comfortably pay for a home in about 15 years.

Why do I say that? Experience…mine

I am an American idiot, not a Canadian one, but I used to commute from Buffalo to Toronto every week to work back in the late 80’s when homes in 416 cost a mere $260,00 or so in Oakville & Misissaugua areas. American idiots & Canadian ones are VERY similar, nearly identical.

I am retiring at years end at the ripe old age of 60.
Debt Free, and on just an average US salary. Decent nest egg, newer cars too. Oh, I have a pension, too.
We built our 4 br 3 pooper in 1997.
While a house is nice, its merely a place to keep your family. I find it much more important to be debt-free and be able to make your own decisions, like when to retire, when to go on vacation etc.
Get out of debt, build your savings, and invest like crazy. Look at the dam house as a later step, not a first one. For now, rent the cheapest dive you can stand.

RE will come down in price in due time, as there are-or will be- fewer who CAN afford to buy it.
Love long & Prosper!

#30 MixedBag on 10.14.11 at 11:45 pm

What a bunch of jerks. “Hot useless chick? ” “I can’t imagine a material item like a house would cause a woman to threaten her marriage. I wonder what the vows were…” “Separation over the house … damn, the man should have been smart and left YOU!”

Um, no. For most women a house represents security, especially if she has a family. She might be thinking, “why doesn’t he want to buy a house? is he lazy, not ambitious? does he not care to work for his family?”

If we weren’t in a bubble, but rather in a buyer’s market, would you guys be turning on her husband instead?

She writes that she was thinking separation over this, and only backed off after reading Garth’s blog. Therefore it looks like she and her husband didn’t discuss the current real estate market issues, so one wonders what his reasons were for not buying, or if they were even discussed.

You never know what else is happening in the relationship that someone would consider separating over a house. More than would appear, I suspect.

#31 Dave on 10.14.11 at 11:50 pm

I don’t understand all the hate towards Elizabeth – she admitted she was wrong and she had clearly been sucked in to house mania.

All you bitter losers need to back off a bit on this.

#32 Calgary Job Market on 10.14.11 at 11:56 pm

Liz,

Do your husband a favor… leave him. Do right by your children and give him custody.

#33 Nostradamus Le Mad Vlad on 10.15.11 at 12:01 am


“Grow rich while remaining sub verbal. If you ever needed proof we are in serious trouble, fresh evidence has just been delivered to this pathetic (but virile) blog. This is why housing is cooked.”

Light, medium or extra-crispy? The amount of debt people carry to their grave will leave TNG with a good idea of how to live reasonably well, while avoiding debt like the plague (if humanity gets that far).

“This is one on the person’s primary investment assets.” — When will these numbskulls learn? A home is shelter, not an investment. A thousand lashes with a wet noodle, to stimulate brain muscles!

“If house appreciates, and usually it truly does, . . .” — Not any more. Depreciating at supersonic speed? Yes.

Good on Elizabeth. She has seen the light of renting, and it is good. Be still, my beating brain!
*
#154 bcaltanorthernlights on 10.14.11 at 9:59 pm — “My bank keeps offering to lend me enough money to get completely out of debt.”

Nice bank! Does it ever want the money back?!
*
733% Profit Now you know why electric and gas companies want to bring in the Smart Meter; Taipei Occupy movement there too; Europe on the breadline, which explains — EU Food Just in time for xmas; Weak Economy and Treasuries Tumble “The US is a refuge only because the US Government promises to make the US taxpayer cover all losses. But OccupyAMERICA is sending a clear message that We The People will not sacrifice our own lives to repay bad business investments. That message is being heard because foreign institutions are DUMPING TREASURIES, and this is what is driving treasuries down.” wrh.com; Geithner Looks as if US taxpayers are about to be screwed mercilessly, from the US Fed and IMF. We will be next, because of the wars.

Noodles Italy’s debt spiral; Finland, Slovakia, Greece and Germany.

OWS with the pic at the head, this is a different take altogether; 4:22 clip Update on Libya, early Sat. a.m.; Uganda Nobel Peace Prize my ass — Obomba is a good name for him; Waterloo The American Empire; Freedom Of Speech is being taken away from us; Canarys.

#34 Carp on 10.15.11 at 12:08 am

I love my wife. She allowed me to sell the suburban castle and doesn’t want to buy a place for 2-5 years and see if Garth and I are correct. She now agrees that being a home-based business, write-offs of rent versus mortgage interest is advantageous. As well, having an awesome financial guru working the money we would otherwise have stuck in one address is wielding us dividends and soon equity growth is smart.

#35 blase on 10.15.11 at 12:17 am

I was thinking the same thing as a lot of these posters: how can a women choose a box over a husband/father/family?

Then I remembered she’s Canadian, and it’s not her fault. The Canadian system is set up for this kind of thinking. Husbands are as disposable as last-years designer handbag. First husbands are for paying alimony and child support, and for giving up the house, dontcha know.

#36 Jas Girn on 10.15.11 at 12:18 am

Wow, separation over a freaking house. What has happened to Western women? Answers please…

#37 BPOE on 10.15.11 at 12:26 am

As usual The American continues to be wrong. BOOYAH FOLKS! Congrats to all the owners AGAIN!
***************************************
B.C. home sales rose nearly nine per cent in September compared to the same month last year, with the average price increasing six per cent to $524,000, the B.C. Real Estate Association said Friday.

The BCREA reports that multiple listing service sales in the province rose 8.8 per cent to 5,995 units and that sales edged up three per cent in September compared to August on a seasonally adjusted basis. A total of 55,616 homes were listed on the multiple listing service at the end of September.
For individual markets, Metro Vancouver saw an average price increase of 10.5 per cent to $751,000 in September compared to September 2010

#38 GFP on 10.15.11 at 12:38 am

Can’t believe this is how the readers react, the story for Elizabeth was reversed in our house hold. My husband gave me a very hard time for not wanting to buy.

#39 The thing in the basement on 10.15.11 at 12:47 am

Elizabeth – you are investing in your landscaping
business? Does that qualify as diversification from RE?
Who do you do most of your business with?

#40 Neil on 10.15.11 at 12:53 am

Garth,
What do you think of the Couch Potato portfolios?

Not much. — Garth

#41 nonplused on 10.15.11 at 12:55 am

See what I mean? It’s Friday and the ghost writer is first giving us a look at garbledy-gook – like any real estate agent can write plain English – just read the blurbs for MLS listings some time. SOME OF THEM CAN’T EVEN FIGURE OUT HOW TO TURN OFF CAP LOCK.

Then we get a pointless tying of today’s market volatility to what would otherwise be good advice to buy good companies that have profits. Whether it is up or down on the day, all these big moves are driving the computers that calculate VaR for all the trading shops crazy. And PS it is not good news. Markets should not move 1-2% per day in either direction, although some of that is unavoidable. But every day? Hello margin call.

And then finally we get a heart warming story about a marriage saved. Ok, a small redemption. Looking forward to Monday, when the real Garth gets back. Hope you are enjoying your pint while supervising your Harley detailing crew.

#42 Devil's Advocate on 10.15.11 at 1:04 am

Smoking Man rocks

#43 Ozy - mamma mia on 10.15.11 at 1:16 am

BETTY DEAR LORD, my lad, you have an Attachment to Image and another one to Material things and Family Control. Baby, take it easy and relax, you were no made for what your mind thinks. Give your “went with the flow” mind a break, as you have seen 1 light, but the root-cause is not resoved in your head. What to do? Just make peace, be calm, contend, quiet and feel your soul, give your Apple mind a punisment break. Let the proper feelings guide you, and not the ones inspired by a “delusional” mind subject to all shitty mega-advertisments you are invaded with. As an example, donate your ipod, iphone and all other contemporany shit, get our of the power of “what would Jonesses say?”, you got the idea, disconenct from faulty reality until you find proper balance and can really stand up for your life. ameno

#44 Soylent Green is People on 10.15.11 at 1:22 am

Trickle Down Economics one big sham.

There was always skepticism about claims that, as the rich became richer, income would “trickle down” to others.

What wasn’t perhaps foreseen was that the trickling would actually be in the other direction, and that it would be more of a torrent than a trickle.

But the evidence is now clear. Over the last three decades, the tables of the rich have overflowed, with barely any scraps falling off. On the contrary, there’s been a massive transfer of income and wealth from Canada’s middle and lower class to the rich.
The result is that Canada has become a highly unequal society.

This is bad news, since a growing body of empirical evidence shows that extreme inequality has a clearly negative effect on a wide range of health, social and economic problems, as well as undermining democracy.

http://www.thestar.com/opinion/columns/article/911829–canada-discovers-trickle-up-economics

.
.
.
.

#45 Mark on 10.15.11 at 1:22 am

My breeder of a cousin with-5-kids and truck driver husband recently got approved for a $450k mortgage bringing practically no equity to the table. The end must be near.

#46 dd on 10.15.11 at 1:30 am

europe is getting its ducks in a row? Ya sure … estimates being floated are $1.5 trillion plus euros for the bailout fund. Some more realistic numbers are $3 trillion plus. Oh that works out to be around 4.5 trillion CDN. And how is the going to be funded?

Too funny.

#47 a prairie dawg on 10.15.11 at 2:18 am

Started studying for Realtard© license 4 weeks ago.

Finally ‘earned’ Realtard© license 2 weeks ago.

Have webpage too, so you can trust me…

– – –

O.M.F.G.

#48 tkid on 10.15.11 at 2:19 am

#6 T.O Bubble Boy, thanks for the link. I can’t get over the hot water heater that gets plugged in inside the shower.

#49 Cristian on 10.15.11 at 2:56 am

“this week marked a full recovery by stock markets”
Garth 10:4

So, let’s see…
April 2011 – TSX around 14,000
October 2011 – TSX around 12,000

Yep! Full recovery! Hurrah!!! We’re saved!
Europe’s debts are gone!
China manufacturing and exports are up again!
US unemployment is under 5% and companies that actually produce things that can be sold (like Google) are booming!
Canada is enjoying record demand for its natural resources! (nevermind that Canada doesn’t have much else to sell the rest of the world)
Hallelujah brothers and sisters!!! Amen!

Garth, you really should go out more. I used to enjoy your blog when you were making sense, but as of late you tend to distort reality in intriguing ways.

What I wrote was accurate – markets fully recovered from the recent decline. The doomers once again were proven to be alarmist and misguided. In volatility there is opportunity. Sorry you missed it. — Garth

#50 Young Old Fart on 10.15.11 at 2:58 am

The reason there are pre-nups in the world are because of broads like Elizabeth….

How shallow…. What were your vows? “for as long as this love lasts….or til I get a house”

#51 AACI Home-dog on 10.15.11 at 3:14 am

A noteworthy point….the Greek economy is about the same size as that of Florida….(according to my advisor).

#52 AACI Home-dog on 10.15.11 at 3:38 am

Thought about going to check out the “occupy” somewhere near here ….then thought…hey, I may be in the 1% category of “capitalists” that they are protesting against. Maybe I will just watch it on the ‘news’. Duh

#53 Marco from the bestest place on the smallest part of earth on 10.15.11 at 3:56 am

That realtor’s “education” site, must have gone through the same translation engine most manuals, which come with Chinese made electronics, have.

#54 westcanguy on 10.15.11 at 4:04 am

Considering separation over a house purchase? Wow…Your’re a real keeper.
Truly, your priorities are ass backwards. I feel sorry for her husband because he has no idea what he’s in for in the future. In fact, I’ll lay 3-2 odds they’re done in 5 years.

#55 M.T. on 10.15.11 at 4:14 am

You Have save a lot of people from the mistake of buying a property at the “peak or “bubble of the Market. Look at my home town of Edmonton for exapmle! http://www.mls.ca/PropertyDetails.aspx?&PropertyId=11158065&PidKey=1071683928

#56 Darryl on 10.15.11 at 5:36 am

About the article from the RE salesman.

Looks like smoking man has started real estated.

#57 APM on 10.15.11 at 6:04 am

That ‘Real Estate Land’ site is pathetic. What is sad is that amateurs and first time investors may actually consider making an ‘investment’ in real estate based on this crap. I think the real estate industry should be held liable for promoting real estate investments to the general public without properly explaining all the risk associated with the investment. More specifically, any agent that is flogging an investment pro-forma to virgin buyers of ‘investment’ properties without properly explaining the variables used and how they impact the investment over time should have their licence revoked. Variables will change over time and this uncertainty and risk should be accounted for in the analysis (it never is when it’s coming from an agent…they don’t know how to do it!).

I have seen numerous pro-forma statements from agents that would be laughed at by anyone with any basic knowledge of discounted cash flow analysis and investment analysis. Most of these pro-forma statements (and I use the term loosely) include an assumption that interest rates will remain low, rent with remain high, maintenance fees are static and that taxes will not rise. Also, most of the ones I’ve seen include putting in as little equity as possible. If you use these assumptions of course the numbers will look good. Oh yes and they use this to distract you from the fact that the actual unit they are trying to sell you is overpriced. It’s crazy. (I make the above comment in the context of residential and condo investment properties, not commercial type real property investments).

I’ve have never seen a balanced and well thought out analysis of an investment property come from a real estate agent (I’ve stopped looking at these a long, long time ago). I don’t expect it anymore and neither should any potential buyers out there. These agents would not know a properly laid out discounted cash flow analysis if it hit them in the face and based on this they target clients with the same, if not less, investment acumen.

Buyer beware, do your own due diligence, educate yourself and always take a critical look at whatever anyone is trying to sell you.

#58 blase on 10.15.11 at 6:27 am

For those of you who don’t understand the blog dogs’ reactions to the woman thinking of leaving her husband over the house issue, let me just say I’m glad you don’t understand. It means you’ve never had the pleasure of experiencing a woman turning the “commitment” switch off, and turning the “let him drown” switch on. I wish it weren’t so, but for far too many men, they learn after getting married or having children that their wife is only as loyal as the next paycheque or whim. Just pray that your wife never feels “unfulfilled”, as the courts will encourage her to take you to the cleaners. So much for equality of the sexes, when it comes to the law.

#59 I'm stupid on 10.15.11 at 7:21 am

One question for you Garth, how long before global unemployment begins to hurt companies bottom line? Am I wrong in my assumption that companies are holding so much cash because profit margins will decrease if interest rates normalize? Is the cash reserve being held, for the purpose of paying back some of the outstanding bonds if interest rates increase?
Just a thought from a stupid guy.

#60 SLN on 10.15.11 at 7:43 am

@AACI home dog..
LMAO.. you? part of the 1%? hardly.
You clearly have no clue.

#61 SLN on 10.15.11 at 7:45 am

^oh, and that goes double for anyone who has bashed Elizabeth, too.
Gang of lowbrow bullies. Garth ought to be proud of the quality of readers/posters today.

#62 J on 10.15.11 at 7:49 am

I lost faith in this posting as soon as I saw the grammatical errors. For example, “landscape them any strategy you hope. ” There are more…which makes this article less.

#63 allister on 10.15.11 at 7:54 am

The realturd advertisement is probably from a recent immigrant who has studied English as a second language, but couldn’t get a job in his native profession as a brain surgen – so he/she got a RE license.

#64 Nothing to see here on 10.15.11 at 8:02 am

Of course everything is fine.
Money is easily created to pay for criminal banking practices.
More bailouts.
Keep shopping.

What a mess.

#65 T.O. Bubble Boy on 10.15.11 at 8:22 am

@ #48 tkid:

#6 T.O Bubble Boy, thanks for the link. I can’t get over the hot water heater that gets plugged in inside the shower.

From the looks of things, you could be the proud owner of several thousand of those empty “$400,000 condos” just in that one area of Beijing alone . No guarantees that all would come with fancy shower/hot water heater combos though.

#66 T.O. Bubble Boy on 10.15.11 at 8:24 am

And, on the same note, does this news shock anybody?

Chinese Banks’ Bad Debt May Hit 60% of Equity Capital

#67 T.O. Bubble Boy on 10.15.11 at 8:30 am

(which could put CIBC’s $1.5B losses on Enron/Global Crossing in 2002 to shame!)

#68 Lunchlady on 10.15.11 at 8:31 am

to #58 blase and probably alot of you other guys , maybe you should be a little smarter about who you marry. Think with your big head instead of your little one…

#69 Solitario on 10.15.11 at 8:31 am

Get real. Elisabeth does not exist. That letter was written by a man. No woman would ever admit being “an ignorant wife who nagged my husband over and over…”

#70 VERN CASTELLANO on 10.15.11 at 8:50 am

Hi Garth,
Perhaps if more people visited our Public Libararies,(free) and read books, then we could communicate better.Our communities have a Valuble Free Resource that’s often ignored.I have read all your books and your blog almost daily.I hope you publish a New Book soon.
Best regards,
VC

#71 Regan on 10.15.11 at 9:19 am

Thanks Elizabeth for sharing your story. There have been many people on this blog who have disclosed the terrible strain of financial stress caused by housing. Ignore the sexist rants – apparently a positive story is too much for dogs here who are looking for something to chew on.
As for the first post, I can only say that if Garth refused to approve comments with spelling and grammatical errors, these pages would be largely blank.

#72 Lisa on 10.15.11 at 9:22 am

Very interesting & entertaining video/ interview…watch CBC’s Kevin O’Leary get lambasted by a true expert over the Occupy Wall Street movement.

http://vigilantcitizen.com/latestnews/occupy-wall-street-chris-hedges-shuts-down-cbc-kevin-oleary-video/

#73 Canajun on 10.15.11 at 9:25 am

Garth, I do not understand your comment “…markets are back in positive territory for the year .”

The 1-year chart for the TSX shows a drop (YOY) of about 650 points, and even more (over 1,000 points) since Jan 1, 2011. What am I missing? Check it at: http://www.theglobeandmail.com/globe-investor/markets/indexes/

#74 Keeping the Faith on 10.15.11 at 9:26 am

Where are all those idiots that were trumpeting last month on this blog that they “are so great cause they sold out of the markets at the end of July”

Great work peeps! You’re amazing timers … did you time geting back into the markets right before the rebound … Didn’t think so.

Congrats, you’ve just confirmed that you can be in cash or gold for the rest of your life, paying you nothing and shriveling up in the face of inflation.

Losers.

I think I may take the time to go back and find those idiot posters in early September.

#75 Aussie Roy on 10.15.11 at 9:28 am

Aussie Update

Why can’t I flip my mansion?, it’s just not cricket.

GLENN McGrath is struggling to sell his Cronulla family home, which has been languishing on the property market for the past six months.

Real estate sources say the high price tag of the five-bedroom waterfront is to blame for the lack of interest since it was put up for sale in April.

It was bought in 2006 for $5.25 million, but Confidential understands the retired cricket champ had hoped for close to $6m for the Gunnamatta Bay abode as he and wife Sara Leonardi and his children Holly and James look to relocate to the eastern suburbs.

http://www.heraldsun.com.au/entertainment/confidential/glenn-mcgrath-struggling-to-sell-cronulla-home/story-e6frf96o-1226166810104

Another one bites the dust.

Franchisees could put in a bid to buy Refund Home Loans following the company’s announcement it will enter voluntary administration.

Refund Home Loans announced to franchisees on Wednesday that it had entered voluntary administration due to $2.5m in debt.

http://www.brokernews.com.au/news/breaking-news/franchisees-could-buy-refund/118811

Even in rural areas prices are falling but RE Agent didn’t notice – LOL.

Median housing prices fell in Bendigo in the September quarter as potential home buyers paused in an uncertain economic climate.

The Real Estate Institute of Bendigo released data yesterday that showed the median house price fell to $277,500 in the three months to September 30 – from $285,000 in the previous three-month period.

http://www.bendigoadvertiser.com.au/news/local/news/general/drop-in-bendigo-housing-prices/2324561.aspx

#76 Hammer1 on 10.15.11 at 9:31 am

This is why housing is cooked. We no longer need a spike in mortgage rates or a plunge into recession. The simple truth is that demand for properties can only wane as the ability of most people to buy them fades.- Garth
===================================
exactly like the good ol’ USofA. thanks big daddy.

#77 neo on 10.15.11 at 9:34 am

Gotta love Garth’s wonky methodolgy. On the one hand he says the markets have recovered from there recent highs. But then quotes year to date to say things are flat? No Garth, the S&P was 1,360 recently and is now 1,220. So NO it hasn’t “recovered” from “recent” losses. If you are going to use YTD returns there was never a crash to begin with since the Dow never got much lower than 5% YTD. It was because of the YTD that I didn’t think we had a crash or take this correction seriously “yet”. Now if the Dow and S&P get’s a 9 handle that’s a different story.

Second, your answer to the global debt problem of taxing citizens more isn’t realistic given the enormity of the problem and the weakness of the labour market amongst other things.

Third, there is no way Europe is coming up with the $2-3 trillion necessary to stabilize the situation without serious downgrades to France and Germany which will only create other issues going forward. Have you even looked at 10 year bond yields in EU countries lately? They aren’t sharing your optimism even with ECB bond purchases.

#78 Hammer1 on 10.15.11 at 9:36 am

Meanwhile, fresh evidence has just been delivered to this pathetic (but virile) blog that people who can’t pass basic literacy or math tests, have trouble speaking or being understood…….,- Garth
====================================
geez, i thought for a minute you were referring to Smoking Man, our self- made blog dog celeb

#79 Beach Girl on 10.15.11 at 9:40 am

I think there is a sincerity issue here.

#4 WE or what?

Separation over the house … damn, the man should have been smart and left YOU!

____

Well, being a single mother SUCKS. Not that you do, but it sucks, no one is going to like your kids, you probably don’t. The bigger they get, the more expensive, and they do not look cute at all. Thank GOD the idiots left at 12. Got my life back. Now they love me, and visit too often.

I am a more than reasonably good looking woman. I never took anyone to the cleaners. Worked all my life. Ended up with a higher pile of shit than most, good luck, maybe.

Well, I concur with someone, give him custody of the kids. They will hate you both anyway.

I always provided for myself. When this sweetheart wakes up and is living in a basement apt, with no Disney Dad showing up for his Wednesday night chores with the snot monsters. And she is driving a 15 year old Cavalier. Then that turkey has already talked.

On a much lighter note, I am going to FOODFEST, with all the best chefs, fighting a quarry. I don’t care. Too self centred for that.

2 neighbours’ houses are for sale. One old WOP died and had 7 kids. They are fighting over a house that won’t sell. Other neighbour can’t sell theirs either. My friends say it is cause I am in the middle. LOL.

Walking the beach with Miss Daisy today. Talkative, kinda happy.

And no I don’t panic when the market appears to tank.

#80 ballingsford on 10.15.11 at 9:48 am

Nice to see that Elizabeth has come to her senses! Too bad though that their are so many others out there that think like she previously thought!

#81 Moneta on 10.15.11 at 9:50 am

pray that your wife never feels “unfulfilled
————–
Pray??? How about actually doing something for her?

It takes 2 to tango.

Too many men who are pining for the 1950s, wanting their cake and to eat it too. They are looking to make money off the greater fools and expect their wives to be their servant. So when they see that a woman could actually turn on them, it can be quite destabilizing since it doesn’t jibe with their worldview.

#82 Marc L on 10.15.11 at 9:56 am

Great Post #29

#29 WI BOOMER on 10.14.11 at 11:31 pm

#83 Lawn Asian on 10.15.11 at 10:09 am

I can’t believe the level of cold and cruel comments people feel comfortable flinging from the comfort of their annonymous positions. I am also a mother of two young kids and living in a condo. Marriage – bringing two different sets of financial values together is stressful. Pile on parenthood and external pressures most likely from friends and family and I can easily see how Elizabeth was pushed to the brink. I applaud her for being smart and trying to educate herself – unlike the losers on here who sit around flinging insults mistakenly believing one single sentence can sum up this woman’s life.

Why is there soooo much hate on for women on the site comments all the time? Are you all so bitter about not being able to afford a home that you need to take pot shots at your wives and girlfriends to feel like big men?

#84 The American on 10.15.11 at 10:28 am

At #37: 16thBPOE, YOU ARE WRONG AGAIN, you pathetic turd. What kind of joke are you trying to constantly pull on the readers? Vancouver home prices drop… I was right… as usual (doesn’t this get old for you?) As is expected, you are now entering into the fall and winter months – the months where homes sit the longest without selling. It is only going to get worse on a long-term basis from here, no matter how hard you try to spin it. Read it and cry.

http://www.vancouversun.com/business/real-estate/Metro+Vancouver+homes+selling+prices+drop+August+StatsCan/5540720/story.html

#85 The American on 10.15.11 at 10:42 am

16th BPOE, here is some more fun reading for you. :-) I sure do hope you have one of those big, fancy cars you always talk about. You’re going to be living in it.

BC Home Prices Will Drop in 2012:
http://www.vancouversun.com/business/home+prices+will+slight+drop+2012+economist+says/5142347/story.html

BC Real Estate Market Home Sales Decline 17.3% in July
http://www.buyric.com/news/2011/08/bc-real-estate-market-home-sales-decline-17-3-july-2011-247/

BC Sales Eroded 5.5% in September
http://chpc.biz/

Vancouver house prices to drop nearly 15% in two years, according to Polly Anna Vancouver Sun (now THAT is saying something!!!) Unfortunately, they don’t go on to state they already KNOW the prices will continue to decline outside of that two-year window. Its all a big game:
http://www.vancouversun.com/business/Vancouver+house+prices+drop+cent+years+report/5100476/story.html

People are scared:
http://www.torontolife.com/daily/informer/to-market-to-market/2011/08/05/vancouver-real-estate-prices-drop/

Bubble will burst on Vancouver home values:
http://www.winnipegfreepress.com/business/Bubble-will-burst-on-lofty-Vancouver-home-prices-economist-123456039.html

TD Says Vancouver home values will drop over $133,000:
http://vancouvercondo.info/2011/07/td-vancouver-house-price-to-drop-133400.html

Only 8 weeks ago was it realized that Greater Vancouver Home Sales Declined 21.2%!!!
http://www.buyric.com/news/2011/08/greater-vancouver-home-sales-decline-prices-stable-july-2011-242/

#86 Junius on 10.15.11 at 10:43 am

Interesting article arriving at the doorsteps of Vancouver residents this week. Vancouver magazine has done a story on the exodus of young people from Vancouver. The high cost of high houses. Read it here:

http://www.vanmag.com/News_and_Features/Gone

I went for lunch with a former colleague of mine yesterday. She is 29, educated, bright and gainfully employed. She is also originally from the Fraser Valley. She and her live in boy friend are headed to the East Coast next year. Vancouver is just too expensive and even though they both have jobs they just can’t make ends meet.

Meanwhile the RE cartel and the BPOE pumpers still push the “HAM will save all” agenda. Pathetic.

#87 NFN_NLN on 10.15.11 at 10:47 am

#27 Moneta on 10.14.11 at 11:19 pm

WatchingItAll on 10.14.11 at 9:22 pm
——–
LOL! As if most men don’t have obssessions fo their own… Let’s not mention even faster depreciating assets like t&a, cars, football

————-

Chappelle nails it in this video:

http://www.youtube.com/watch?v=5ZRflz-93JA

#88 Manipulated Markets won't stop the riots on 10.15.11 at 10:51 am

dd on 10.15.11 at 1:30 am
europe is getting its ducks in a row? Ya sure … estimates being floated are $1.5 trillion plus euros for the bailout fund. Some more realistic numbers are $3 trillion plus. Oh that works out to be around 4.5 trillion CDN. And how is the going to be funded?

Too funny.
——————————————————————
The talking heads can lie and whatever they want but bad debt must be written off and the corporations/bankers must take the hit NOT THE PEOPLE. This is why the world is protesting.

#89 Junius on 10.15.11 at 10:52 am

#58 blase,

I agree. A few years ago we were caught in the spiral as well. All our friends were leveraging up. I got a significant raise and contract extension which put me in a great position to borrow more money and follow the herd. My wife and I decided to stay put and work on reducing debt and building our investment portfolio.

There were some tense months as I persuaded her this was the right course. However in the long run she is 100% in agreement now.

The strange part was that so many of our friends couldn’t understand it. Several of the our “West Side Girls” asked her if something was wrong in our marriage. Other friends of mine had similar troubles when one party wanted to leverage up and the other didn’t believe in doing that.

Flash forward 2 years and now they come to her and express their concerns about their own situation. Over leveraged, high in debt and no raises on the horizon. Attitudes are changing……but slowly.

#90 Daisy Mae on 10.15.11 at 11:30 am

CBC: “Realtors are asking the B.C. government to remove the provincial portion of the HST on new homes immediately.

The Real Estate Board of Greater Vancouver says hundreds of newly built condos are sitting vacant while buyers wait for the tax to be scrapped, and are requesting the seven-per-cent provincial portion of the HST be dropped as quickly as possible.”

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

Duh….

#91 The thing in the basement on 10.15.11 at 11:36 am

44 SGIP – income inequality is measured by the gini coefficient. Wiki summarizes here:

http://en.wikipedia.org/wiki/List_of_countries_by_income_equality

There are other links but they usually refer back to the same couple of sources. Most data is a few years old. You’ll see the US and GB are among the higher numbers (ie more unequal) for the developed world.

But what is an ideal gini? There is a point where the more equal-income countries (ie low score) start to experience a “drain” of highly productive human capital to those countries where they feel they can increase earnings. Its a tough call.

#92 The Emperor's Clothes on 10.15.11 at 11:42 am

Wow! Lots of nasty comments about “Elizabeth”.
Give her a break folks. She was being honest about her marital situation. I would venture that 80% of relationships are “on the rocks” due to financial( lack of) disagreements. Its human nature.
Elizabeth, glad you have “seen the light” . Hopefully you and hubby can buy a house some day when sanity has returned to real estate.

#93 CraigM on 10.15.11 at 12:00 pm

I think that a significant number of the comments here about Elizabeth demonstrate that a lot of people have no capability for forgiveness or an understanding that others can learn. My wife and I were in a similar situation a few years ago: the pressure that made her feel that we had to own RE, and it was intense, was coming from her parents, and this caused problems for our marriage. Finally, she too saw the light, and stood up to them.

Our marriage is much stronger and happier since she took that step. Her parents have since backed off the own RE mantra and in fact, are starting to see that their ideas were not only misplaced, but causing damage to the lives of others.

Keep it up, Elizabeth: I think that you’ve learned a lot, including what is truly important in life, and I think that you and your husband are indeed fortunate to have each other.

#94 penpal on 10.15.11 at 12:13 pm

@ #50 Y O F

What’s love got to do with it?

It’s nothin’ but a second hand emotion.

#95 the Phantom on 10.15.11 at 12:14 pm

Hey Garth, Fellow Blog Dogs and “Lurkers”…

Been away for a time but it is good to be back!!!

#23 Pete in Barrie:

“Actually, I want to comment about the first letter … I have just been spending a fretful evening reading grade 10 essays … and was exhausted with all the grammar errors. I wonder what level of education some of these real estate agents have.”

Pete, I hear you, buddy! You couldn’t have stated it any more truthfully than that…

My hope is that what I write here does not come across as pretentious or arrogant. I simply was not able to resist the temptation to add to Pete’s musings and submit an entry to offer a few thoughts of my own.

The author of this literary jewel (the first letter) would do well perhaps to obtain some books on how to use grammar, adjectives and adverbs properly. Taking some time to relearn these literary skills will help improve writing skills and also help the person avoid looking like a complete and utter fool by posting something as deplorable as the piece above.

As a former teacher, when I read something like this it raises some serious doubts as to whether or not the educational systems in the provinces and territories shouldn’t have a complete overhaul or if we should stop the practice of “placing” those students who are below grade level. If we are unable to do an institutional revision, then we should seriously entertain doing mandatory drug testing for all students over the age of 12. Those are the only two suggestions I can offer to explain the sub-standard work by this Real Estate agent. I have had students in the early years submit work of a higher quality than this person.

Moreover, to think that this was written by an individual who is entrusted with the transaction of real estate is troubling to say the least. It certainly does provide an excuse to pause, reflect and wonder where and how we could improve literacy.

To those of you who sighed after reading my thoughts…you are correct, I missed the big picture involving Elizabeth and the developments in her life that now have her pumping purple panther piss…

The Phantom

#96 penpal on 10.15.11 at 12:15 pm

@ # 58 blase

bitter experience?

or did you just decide to break the married guy code?

#97 Sir Geoffrey on 10.15.11 at 12:25 pm

Reply to Blase: Truer words were never spoken! Been there done that! My advice to ALL men is to select a mate who is on the same page as you with respect to finances. Forget the glitz, glamour and beauty. When the bloom goes off the rose (and it usually does) you better have a mate that is prepared to see the real world as you do, otherwise you become a slave to her whims. I believe there are an abundance of “slaves” out there right now praying for emancipation.

#98 penpal on 10.15.11 at 12:26 pm

@ # 35 blase and # 36 Jas Girn

Do you guys not get out much or read the Globe and Mail (Life section in particular)?

Canadian men are wusses who watch hockey in a pathetic bid to reclaim their masculinity,- that is, when their girlfriends / wives allow them to do so.

This emasculated country nauseates me at times and makes me laugh at other times.

Shocking what some men put up with.

#99 Paully on 10.15.11 at 12:46 pm

Some of you are mighty brave in cyber-space. Would you choose the same flame-words if you were standing face to face with Elizabeth ? I like the instant discussion made possible by the internet, but it would be nice if people could remember their manners. Let’s all try and get along.

#100 Dad on 10.15.11 at 12:46 pm

Hahahah the white knight brigade to the rescue of this poor put-upon Waif has arrived!

#101 Timing is Everything on 10.15.11 at 12:52 pm

#9 Smoking Man – How can you honestly believe I could rite something like that…….

No need get all paranoid about it.
——————————————–
#8 Geroy
#11 Habbit

The Riders!?…make it three.
easy-peasy (lemon-squeezy)

———————————————-
Liz:
Hell, we ‘almost contemplat[ed] separation’ at least a dozen times over the years. We’ve been together since Christ left Medicine Hat. Ha!…Still together…for better or worse, ups and downs…Kinda like the markets and RE. You’ll be fine.

It’s never too late to make a better decision….And you did.

#102 jess on 10.15.11 at 12:59 pm

The Burden and the Blight
low rates /cheap house is meaningless with no income/no job=no demand drip drip houses rot signs says no copper here

Drive through Cleveland
http://www.youtube.com/watch?v=PXVbc9T1Lp0

Lenders pay $3,500 to $7,500 per house. The banksters say its sensible and responsible business plan.

land banks – e.g. cleveland demolish for 7500k
banks now “donate” the properties
http://cd.city.cleveland.oh.us/scripts/cityport.php
http://cd.city.cleveland.oh.us/forms/cdLandbankApplicantInfo.pdf
Cuyahoga County Ohio Land Bankwww.cuyahogalandbank.org/

google map
2200 devonshire rd cleveland heights
8500sq feet sold for 260k knock down for the lot
check out the tax asses
http://www.zillow.com/homedetails/2200-Devonshire-Dr-Cleveland-OH-44106/33659083_zpid/

#103 blase on 10.15.11 at 1:03 pm

Penpal,

Very bitter experience. Learned that my ex saw me strictly as a sperm donor and $ man, once the marriage was done. The needs of our daughter were completely put on the trash heap. Canadian men are that way because Canadian women can pull all the strings, knowing the guy is [email protected]#ed if they get a divorce, especially once they have kids.

If you don’t “put up with it” as you say penpal, then get ready for the lawyers. Unless you live in Quebec of course. I guess that’s one of the reasons why I re-married to my Korean wife. She can’t take me to the cleaners, she doesn’t care about buying a house, and divorced women with kids have virtually no chance of re-marriage. No trial marriages like in Canada.

#104 poco on 10.15.11 at 1:11 pm

#42–Devil’s Advocate on 10.15.11 at 1:04 am
Smoking Man rocks
._____________________________________________

ya, figures you’ld say that —his bullsh*t postings fit in well with your bullsh*t ramblings

sorry—can’t stay long –off to sell a house

#105 detalumis on 10.15.11 at 1:18 pm

#58 I agree with Lunchlady #68. When I went to college studying IT I was in a class of 40 guys and 5 girls. I had a firsthand look at how men select a spouse (never had a single date myself being rejected by even the nerdiest men) – and it sure as heck wasn’t because of a woman’s personality and earning capacity.

I kind of like watching how life unfolded for all the guys who picked their wife based on her hotness factor and not her earning capacity and generosity of spirit and I won’t say I told you so but hey I told you so.

#106 Mister Obvious on 10.15.11 at 1:32 pm

#55 M.T.

Now that’s a good ‘starter’ home for a reasonable price. I street-viewed the address. Not a bad little neighbourhood. It’s only about a kilometre from where I lived for a while as a kid. Pretty old though (built 1920) and rather close to the commercial airport and train yards. But hey, you can’t have it all for $125K. It all works if you want to live in Edmonton.

#107 Popeye The Sailor Man on 10.15.11 at 1:47 pm

Lets look at what’s in common in these two actions.

Asking a Realtor if it’s a good time to buy a house.

Asking Car salesman if it’s a good time to buy a car.

Realtor;
Always a good time to buy
Will hide the true cost and variables you will face over a 25-35 year mortgage.
Will not educate client on rent to price, income to debt ect.
Will make high pressure comments like, make a strong bid, you will get priced out…,
Casually say lets make a bid and see what happens…..

Car salesperson;
This a great time to buy we have Bla Bla Bla on sale (event)(promotion)ect.
Will not really educate buyers on the true cost of that 15% loan, the true costs of leases,
Will make high pressure comments, like this sale on this weekend only, this ___ is in high demand you should make a deposit.
Let’s draw up an offer and I will take it to my manager and see what happens.

A house is 10X the price of a new car, yet even thou the sales people are the same, people will be 10X more leery of buying a car.

This is out of balance by 20X what it should be, and I’m sure it will change as time goes on. It would be interesting to see how these two salespeople rate in the USA now compared to Canada

#108 Popeye The Sailor Man on 10.15.11 at 2:08 pm

Elizabeth,

MY first wife insisted we buy a condo in 1993 in Victoria, just a year before she wanted me to leave the Navy. I struggled for work for work over 5 years, pulling in about 25-35K a year. She then wanted to have a baby, a dog, a new car, and a house, but could not make up her mind what was more important (wanted it all).

Our condo dropped a couple % a year from 136K to 105K, until we split in January 2000 after I cancelled a free Vegas trip to work with my now current employer. We had negative equity the whole time over the 7years and owed 108K in the end. She wanted the condo so I just signed it over. I got the better deal.

Elizabeth, I’m glad you see the light now, just be careful of your wants in the future. Some people have made some hurtful comments to you, which I feel is rooted in past experiences like mine. Take what they say with a grain of salt, you have reflected on your self and found contentment and are improving your family life. So hold your head high and hold on to your husbands hand tight.

Cheers.

#109 macduff on 10.15.11 at 2:17 pm

You know, now that people can no longer afford to buy houses (and therefore go to unending open houses) they can now protest with everyone else that they have been dealt an unfair hand and can no longer buy the house of their dreams because [blank] (insert government, corporations, the top 1%, the Greeks) have done them wrong, and that somehow by occupying public property their demands will change the world.

#110 Waterloo Resident on 10.15.11 at 2:28 pm

I keep telling men time and time again: WOMEN ARE NOT WORTH THE TROUBLE !

They are just a waste of skin; move on and forget about them, you will be so much more happy in your life if you are WITHOUT A WOMAN !
—–

They don’t listen. A few years later they are losing EVERYTHING they have ever worked for in divorce courts, it really is sad to see the men cut up like that, thrown into the trash — dead.

#111 Stendz on 10.15.11 at 2:32 pm

I imagine most people who read this blog believe there is going to be a correction in the housing markets in the Vancouver and Toronto areas at a minimum… I tend to agree… My first question is… Will there be a good time to buy again? If so, when?

#112 MKUltra on 10.15.11 at 2:40 pm

Moist keyboard? Dude, you need to keep a roll of paper towels within easy reach. A few seconds of mindful preparation, will save you a few minutes of avoidable clean up. Next time – think.

#113 Waterloo Resident on 10.15.11 at 3:00 pm

Garth said: ( “So, markets are back in positive territory for the year. ” )

= Yes, that’s true, take a look at this chart of the TSX over a one-year period and you will see that he’s correct:

http://stockcharts.com/h-sc/ui?s=$TSX&p=D&yr=1&mn=6&dy=0&id=p93756520919

But what worries me is NOT that the market is back to break-even, what worries me is the down-trend that you can see from that one year chart, the prices seem to be ratcheting down and down with each ‘wave’, it doesn’t ‘LOOK’ pretty.

You have to view the chart to get an idea of what I mean.

#114 Westernman on 10.15.11 at 3:04 pm

Just a couple of quick notes on todays post and the susequent comments
1. No, the economic situation is NOT getting better. It is in fact getting slowly worse. That is obvious to anyone who is honest with themselves.
2. Men, Elizabeth and the other wenches who threw their support behind her are the reason you DO NOT get married. Use women like you would any dangerous substance but I again say in the most forceful terms : DO NOT enter into any legal agreement with them. You will regret it sooner or later. You stand a damm good chance of being financially ruined.

#115 Beach Girl on 10.15.11 at 3:11 pm

Elizabeth, hold on to that sucker tight, I think they might be getting smarter.

You bagged that poor bastard. And he is actually the father of your children? Things can get much worse.

Really evaluate your situation. No one wants to support you or someone else’s children, unless he fell of a really big truck. And would you want that anyway.

Reality, it a tough lesson. Be careful grasshopper.

#116 triplenet on 10.15.11 at 4:18 pm

#57 APM

A pro-forma and discounted cash flow analysis on songle family residential and stratas…

That’s total foolishness
Don’t contribute if you have no idea what you are talking about.
Only a fool would consider a residential strata or residence as an investment and further demonstrate their total ignorance by analyzing with DCF and income and expense statements or pro-formas.
PS – condominium is a legal term, not a real estae term per se. Have you ever invited someone over to your fee simple? Remove the word condo from your vocabulary or go back to school.

#117 Devore on 10.15.11 at 4:21 pm

#24 Peter

English as a fourth imaginary language???
Sounds like a really bad Google translation.

I don’t care if English is your 10th language, there’s no excuse for that. Looks more like a Google translation, or even a double translation (English -> language -> English), but why put that on your web site? If you’re catering to foreigners, just use their native language instead, plenty of realtors already do.

#118 Luke on 10.15.11 at 4:25 pm

Dear Liz. Now that you’ve subscribed to the wisdom of your husbands decision in not buying a house perhaps you’ll urge him to make an even wiser decision: divorcing you.

#119 Moneta on 10.15.11 at 4:38 pm

I’m amazed by the sheer number of posters who think one sex is nastier than the other.

I can’t understand why a husband wouldn’t treat his wife like a queen and why she wouldn’t treat him like a king. I guess I just lucked out.

#120 Westernman on 10.15.11 at 5:09 pm

Moneta:
The reason why she doesn’t treat him like a King for long is because she soon realizes that the LAW is 100% against the man in a divorce situation and she can absolutely destroy him financially for the REST OF HIS LIFE. She then gets drunk on that power and then it’s all over for the poor sap. S-L-A-V-E-R-Y
REAL easy to do to Canadian ” men ” because they have their testicles taken away from them by society at a very early age. Canadians as a rule make VERY compliant slaves. Capish?

#121 SLN on 10.15.11 at 5:27 pm

@Moneta..
same here. Cheers to happy, egalitarian marriages.

#122 Stevenson on 10.15.11 at 6:02 pm

Uneducated and unwise realtors are not going to change the RE market. They may influence people’s decisions, but hey what difference are they to Car salesmen? It’s the same thing..they are SALEs people. If people believe and fully trust the realtor for investment advice then the realtor is simply very persuasive and a good sales person.

Mortgage brokers/financial advisers that are not qualified or educated are much more of a problem. Which exactly what happened in the US. A shoe salesmen can go and sell mortgages on his break. A long with insane incentives to lie cheat and steal to cheat the system. That’s when we have a problem.

In Canada you can’t afford it, the bank won’t lend it. Nothing the realtor can do about that. Don’t be foolish. Yes we are high in debt, but is unpayable debt? No. So unless everyone starts losing their jobs and decides to throw in the towel. How is it going to start?

You can’t live in a share you bought of a stock. Also who’s mortgage are you subsidizing for? It may not cover it all, but hey if the market doesn’t tank then like you guys said its only got one other way to go.

#123 Devil's Advocate on 10.15.11 at 6:10 pm

#143Pat on 10.14.11 at 6:42 pm
Hm, what miserable lives some people seem to have… (those who bother with lengthy advice to anonymous idiots)

Things must be slow – I’m back spending too much time on Garths Blog again.

Well only one thing to do, just like last time… get back to work.

Ya see I’ve found; when you have the time to think it’s slow surely enough does it soon become that way. On the other hand; you want a job done… give it to a busy man. A busy man is too busy to worry about the future. A busy man need not worry about the future.

#124 jess on 10.15.11 at 6:23 pm

The Fleecing of Alabama: The Bills Come Due
http://www.bloomberg.com/apps/news?pid=nw&pname=mm_0708_trim2.html
By William Selway and Martin Z. Braun Bloomberg Markets July 2008

either pay the gas bill so she could heat the home she shares with four grandchildren, or send the Birmingham Water Works a $250 check for her water and sewer bill.

Bonner, who is 73 and lives on Social Security, decided to keep the house from freezing.

“I couldn’t afford the water, so they shut it off,” she says. Bonner’s sewer bills have risen more than fourfold in the past decade. What’s threatening to increase them even more isn’t the high cost of treating waste; it’s the way county officials chose to finance the $3.2 billion in debt they took on to build a new sewer system.
===========

Porter, White & Co., the Birmingham-based financial advisory firm later hired by the county to analyze its swaps, said the banks raked in as much as $100 million in excessive fees on all 17 of its swaps.
=

jefferson county….will they say nay?

MORAL OBLIGATION BOND – A bond, usually issued by a state agency or authority, that is secured by a non-binding covenant that any amount necessary to make up any deficiency in pledged revenues available for debt service will be included in the budget recommendation made to the state legislature or other legislative body, which may appropriate moneys to make up the shortfall. The legislature or other legislative body, however, is not legally obligated to make such an appropriation. Compare: GENERAL OBLIGATION BOND.
================================

GENERAL OBLIGATION BOND (G.O. BOND) – A bond that is secured by the full faith, credit and taxing power of an issuer. General obligation bonds issued by local units of government are typically secured by a pledge of the issuer’s ad valorem taxing power; general obligation bonds issued by states are generally based upon appropriations made by the state legislature for the purposes specified. Ad valorem taxes necessary to pay debt service on general obligation bonds are often not subject to the constitutional property tax millage limits (an “unlimited tax bond”), although in some cases such limit may exist (a “limited tax general obligation bond”). Such bonds constitute debts of the issuer and often require approval by election prior to issuance. In the event of default, the holders of general obligation bonds have the right to compel a tax levy or legislative appropriation. Compare: FULL FAITH AND CREDIT BOND; LIMITED TAX BOND; MORAL OBLIGATION BOND; REVENUE BOND; SPECIAL ASSESSMENT BOND; SPECIAL OBLIGATION BOND; SPECIAL TAX BOND. See: LIMITED TAX GENERAL OBLIGATION Bond; UNLIMITED TAX BOND.
http://www.msrb.org/msrb1/glossary/view_def.asp?param=GENERALOBLIGATIONBOND

=

On April 30, the SEC sued Larry Langford, the former county commission president and now Birmingham’s mayor, for fraud in allegedly accepting $156,000 from a local banker while refinancing the sewer debt. Langford denies any wrongdoing. JPMorgan spokesman Brian Marchiony declined to comment for this article.

The Federal Bureau of Investigation has raided financial advisers in California, Minnesota and Pennsylvania to get files. In January 2007, Charlotte, North Carolina-based Bank of America Corp. agreed to cooperate with federal prosecutors in exchange for leniency. Bank of America spokeswoman Shirley Norton declined to comment.

=
Secret Swap Fees

JPMorgan, Bank of America, Bear Stearns, and Lehman Brothers Holdings Inc. charged Jefferson County about $50 million above prevailing prices for 11 of the interest-rate swaps the county bought between 2001 and 2004. None of the fees were disclosed to the commissioners, records show.

#125 Charles Ponzi on 10.15.11 at 6:31 pm

I have lots of empathy for Liz. Hard for anyone to think sanely during a real estate bubble.

#126 Herb on 10.15.11 at 6:50 pm

Moneta (and fellow North-American English-speakers) –

“I guess I just lucked out.”

Funny thing about luck, you’re either “in” luck or you’re “out of” luck. So what you probably mean is that you “lucked in” with your marriage because you seem to imply that you were “in luck” with your choice of partner or how things worked out.

Don’t know where this reversal of “in” and “out” came from, but I first heard the expression “lucked in” around a pool table in an Army officers’ mess about 45 years ago. It made sense at the time, but something seems to have gotten screwed up in the conversion to civilian use.

Now back to Garth’s normal programing.

#127 BPOE on 10.15.11 at 6:54 pm

Foreign investors licking their chops as Canadians drown in debt. Big Boys moving in. The creme de la creme of the world have no interest in our southern neighbours. They messed up big time and paying the price. Anyone checked out the new Ferrari shop on Burrard. The CEO of Facebook apparently in Vancouver checking out listings on the west side no doubt, finally tired of being a renter with 6 billion he qualifies for BPOE. Another 25 million, no decimal point here folks jsut getting finished up on point grey road. Life is great

#128 Moneta on 10.15.11 at 6:55 pm

Westernman on 10.15.11 at 5:09 pm
——
Honestly, I’m in shock. I’m more amazed by the posts here than by Liz.

I always knew I met a wonderful man and had an mazing family but today’s comments just made me realize how lucky I truly am.

I feel bad for many of you as you obviously do not know what it means and feels like to love and to be loved.

#129 APM on 10.15.11 at 7:02 pm

#116 triplenet

I know exactly what I am taking about. Thanks for the kind advice though`.

I’ve seen these pro formas. Not for single family family homes (of course), but yes for residential properties with multiple tenants and for rental condos (ya I used the word again) being advertised as ‘investments’ by agents. I never said I invested in them…I only point out that agents try and present them as investments to new buyers and they are not telling the whole story.

#130 BPOE on 10.15.11 at 7:09 pm

Written years ago by a US publication made clear that Vancouver was the place to be. You see folks one of the amazing things about Vancouver compared to a Seattle is we welcome families living in our core. The American still getting out of his 5 hour freeway jam in the rain
***************************************
and i quote on Seattle********************
IF ALL THIS seems a little harsh, go visit downtown Portland and Vancouver. If you haven’t been there for awhile you’ll be astounded by their urban atmosphere. Ask yourself why our downtown parks are so few and uninviting, in comparison. Why our waterfront access pales. Why our transportation choices are so much more limited. Why our sidewalks are plainer, our street trees fewer, our housing choices narrower, our towers uglier, our choices so nonsensical.
http://seattletimes.nwsource.com/pacificnw/2003/0202/cover.html

#131 TurnerNation on 10.15.11 at 7:12 pm

#71 Regan on 10.15.11 at 9:19 am

For the price of only $39.99/mo this adroit blog offers a “Grammar Nag” service. Your forum host will check and edit each one of your posts, conforming to the Queen’s English.*

*Disclaimer: not available to smoking men

#132 Westernman on 10.15.11 at 7:15 pm

Moneta:
Being introduced to the reality of how the current state of family law favours the the wife at the exspense of the husband is quite a wake up call – isn’t it? It’s not really your fault – you view things from your perspective and its really quite normal and just in your eyes for the wife to hold the hammer of the divorce court over her husbands head like the sword of Damaclese.
You live in the socialist,matriarcal,nanny state of Canada so your brainwashing is started at birth and by the time you reach your advanced age you cannot even imagine what the real world is like. Some of us live in the world of reality and some , like you , live in a fantasy bubble… misunderstanding all you see and blissfully oblivious to how the world really works.

#133 disciple on 10.15.11 at 7:18 pm

Big Telecom is shaking up house. Lots of layoffs, not even mentioned in the MSM, due to disappearing advertising sales revenue.

Big Box retailers starting to panic just a little as both foot traffic and comps down.

Big Auto doesn’t yet realize they are way overstocked on a fading technology.

Big Oil and Big FIRE continue to plunder the middle class, keenly watching the peaceful OWS.

Big R.E. pulling out all the gimmicks to move condos, even my Mom was enticed by the 6 months free offer…

Interesting times ahead for Canada.

#134 Devil's Advocate on 10.15.11 at 7:32 pm

Sign of the times.

Occupy Canada protests hit Kelowna

http://www.castanet.net/edition/news-story-66060-1-.htm#66060

Rats in a Cage…

#135 Moneta on 10.15.11 at 7:33 pm

Herb on 10.15.11 at 6:50 pm
Moneta (and fellow North-American English-speakers) –

“I guess I just lucked out.”
——-
Sheesh! Just when I thought I was starting to master English expressions, I get corrected once again. LOL!

#136 Smoking Man on 10.15.11 at 7:33 pm

Fellow Bubble Heads you ever make it down to New Orleans

Got to see these guys………………………

http://www.dwaynedopsie.com/fr_home.cfm

Live You Tube Clip

http://www.youtube.com/watch?v=qQdjVABK1ME&feature=player_embedded#!

#137 Smoking Man on 10.15.11 at 7:40 pm

#120 Westernman on 10.15.11 at 5:09 pm

Hate to say this but Im starting to like you

#128 Moneta on 10.15.11 at 6:55 pm
Your man will one day cheat on you, thats a fact, get over it…

#138 Smoking Man on 10.15.11 at 7:42 pm

#115 Beach Girl on 10.15.11 at 3:11 pm

Beach Girl do

DELETED

#139 Calgary Car Guy on 10.15.11 at 7:55 pm

#110 Waterloo Resident
#114 Westernman

I agree 100 per cent. Getting married was absolutely the biggest mistake I ever made in my life no question. I would never ever do it again and would’nt recommend it to anybody even with a pre-nup. I’m 53 and paying 2030.00 monthly for alimony and child support (one child). I will be paying until May 2016 and dont know if the economy will hold up so that I can keep up the payments. I really doubt it. If my daughter continues her education I’ll be paying longer. I make about 84000 a year.I’m living in a 40 year old mobile home. She has bought another house, a new car, antique furniture, new hardwood floors, all new appliances and a trip to the tropics. She is a house cleaner for upscale clientele and works hard but give me a break. I’m actually glad I didn’t save more money over my working life or she would have taken a lot more and I would have been even more choked. Be single. Be free. Be happy. Why buy when you can rent. Applies to houses and women. P.S. No I didn’t cheat on her.

#140 Calgary Car Guy on 10.15.11 at 8:07 pm

I guess I should give a report on local economic conditions after my marriage rant. Car sales have softened up a lot in just the last couple of weeks. Lots of people are strapped for cash in service (my department). Lots of for sale signs in real estate and quite a number of signs stating New Price. I dont remember the last time I saw a sold sign. I seriously think it’s been at least a month, maybe more. No, we’re not out of the woods by a long shot. I don’t think the hard times have even started yet really.

#141 Nostradamus Le Mad Vlad on 10.15.11 at 8:15 pm


Had lunch with aliens today, and they mentioned that Teenage Mutant Ninja Tortoises were, in fact, conspiracy theories, albeit unproven. Something new to work on! OWS has, for all intents and purposes, become Occupy The World and I ‘spose it’s having an effect, although the fallout won’t be known for a while.
*
Link in Is the US$600 trillion derivatives about to blow? Well, shit happens so why not; 2:16 clip Speaking of OWS and Soros . . .; Sheeples Arising First quote is rather apt; USSR Who invented the supposed USSR threat? The US. Who invented the Iraq and Iran threats? The US; Links in Connecting the dots between China and Switzerland; Demolition Derby “Basically, the banks are destroying homes to create an artificial shortage to drive housing prices back up.” wrh.com; 5:41 clip Digital bank run on BoA; OWS “They’re anti-Semites! And they smell bad! And their mothers dress them funny! And, and, and … they have ugly dogs. really ugly dogs! And no sense of rhythm. OccupyAMERICA can’t dance worth shit! And they fart in elevators, too!” — Wall Street Goons. wrh.com.

Identity Crisis Seems people cannot make their minds up over whether El Hierro (Canary Islands) is flying or settling on the sea. In any event, it’s doing something. Also Pix and map; 4:24 clip HAARP is acting up; Libya Not what the m$m says; Joseph Kony The rape of Africa has begun, but unexpected events may cool off this unnecesary violence, but Egypt is expanding its military; One min. clip Oblunder promised GMO labeling in 2007. Still waiting; Kent State Revisited This one is much larger; Grocery Stores giving flu shots and discounts. There’s something behind all this, ‘coz there is no reason at all; Botched Science So much for the GW’s, who want carbonazi taxes brought in.

#142 Amarillo on 10.15.11 at 8:18 pm

Re #83 Lawn Asian talking about some of the dawgs’ cruel comments about women … all I can say is I thank the Lord each day for my wife.

Unfortunately, many individuals make mistakes in their marriage choices.

A wise person once said, “It’s better to want what you don’t have … than to have what you don’t want.”

#143 CrowdedElevatorfartz on 10.15.11 at 8:20 pm

Oooooooo BPOE ! You thought I was GONE didnt you ? You randy little liar! You want a spanking dont you, hmmmm hmmmmm? Naughty little monkey.
Time to “smell the elevator” my grotesque plaything…..
You’ve been telling lies again…..
Assume the position.

#144 Daisy Mae on 10.15.11 at 8:36 pm

Re Elizabeths letter: “At the time, I was almost contemplating separation over the house issue.”

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

SECURITY

#145 Daisy Mae on 10.15.11 at 8:38 pm

I don’t know what happened…but I’ll try again.

SECURITY is an extremely important issue for most women. Don’t be so hard on Elizabeth. A house represented ‘security’ for her as it does for many of us…and that’s just the way it is.

#146 Smoking Man on 10.15.11 at 8:56 pm

And for the Rocket Scintist

Universal shrinkage explaind

http://2.bp.blogspot.com/-sMMbfZuZK0w/Tpoqwb6InwI/AAAAAAAAAGc/iNI98ObuF6k/s1600/UNSW.GIF

Best I can do in my state………………………….

#147 Smoking Man on 10.15.11 at 9:27 pm

The fact that I can type keys right now is fn incredable

Garth why do let my shit through……………I don;t add nothing here ,, ban me……..I m gone………….. typeing naked bommed out of my mind listing to floyed…….. I am going to get so fd when the peausent find out who I am………

scary thing is they will have name, but me ……….I have no idea who the fk I am………

Im like the head lights down the road, the flower that did not bloom…….the guy who knew to little………. The Sid Berrit that can keep it together in front of un adiance….

But Im gone…………….I love drugs, bozzes and hookers…..what is wrong with me……………

Clair Tory kids………………………..she was singing when I took the tour of the universe with the stripper angle……..

Only one pic of her on the web……………………her magical death cry…………..still haunts………….

Does anyone else feel the way I do………..

#148 blase on 10.15.11 at 9:32 pm

80% of divorces in Canada are filed by women. Since it’s been often said that women value security very highly, then one can guess that women don’t feel that their financial security will be threatened by divorce. Most married men would never believe this for themselves.

#149 Wait a week or two on 10.15.11 at 9:33 pm

“The systemic financial collapse did not happen.” — GT

Don’t speak too soon. It is not quite over and safe just yet. There is at least one more week to go. If the stock markets are going to make a major move (probably down), it will most likely occur on MONDAY OCTOBER 24, 2011. At least wait until after that date before you get too complacent.

If nothing bad happens then, or even the Monday after that, go back to sleep. Just remember this is no guarantee that you couldn’t get wiped out in the stock markets at any time.

Not the way I invest. — Garth

#150 Smoking Man on 10.15.11 at 9:39 pm

http://www.youtube.com/watch?v=sWDIljcv6vg&feature=related

Clair Tory……………………..out of bozze going to south side johnys later

#151 shanks on 10.15.11 at 9:58 pm

hey Vlad,
any insight as to why the us earthquake site does not (and has not) reported any quake activity in the canary islands for some time now? I have been checking periodically, and for at least 2 weeks now there has been no quake reported on their maps…
http://earthquake.usgs.gov/earthquakes/recenteqsww/Maps/10/345_30.php

#152 LS on 10.15.11 at 9:59 pm

It’s so true that men are all victims of the system and that women take advantage of them as they raise their children.

I’ve never heard of men who abandon their children, get away with never paying a dime of support, beat their wives and brag about it all.

In my social circle, more than 50% of the women make considerably more than their husbands. We all often discuss how careful we need to be when one gets married. You never know when your husband might take you for everything you have.

#153 Canned Goods and Buckshot on 10.15.11 at 9:59 pm

Lisa #72

One would expect more from a person who is acting in journalistic capacity. But really, O’leary was only showing his shallowness and worship of the $.

#154 City Slicker on 10.15.11 at 10:07 pm

#139 Calgary Car Guy

————————————————————
Thanks for that post! I’m 35 and starting to feel the preasure from the others to get married. You are one of the rare people that confirms to me I’m making the right decision about staying single. I just scored over 100K in the stock market and know that no woman is taking it from me! Cheers and amen.

#155 Westernman on 10.15.11 at 10:17 pm

Calgary Car Guy,
Sorry you had to learn the hard way.
Blase, divorce for women in western society today is like winning the lotto only better. You get your own personal human slave to labour away the rest of his rapidly passing and finite life to provide you and your various flings with the funds to go to fancy restaraunts, take expensive cruises etc. It’s like a financial death sentence for the man. Why ANY man would want to get married under current law is beyond me. I did it once and escaped with my hide but I wouldn’t want to chance it again.
Calgary Car Guy… have you thought about changing your name and running away to join the demolition derby?

#156 je on 10.15.11 at 10:17 pm

#135

If you want to improve your English stop using “LOL”–it really is a useless acronym. What does “laughing out loud” mean? Another example of the importation of moronic words and phrases from popular TV, media, or outer space.

#157 Moneta on 10.15.11 at 10:37 pm

#128 Moneta on 10.15.11 at 6:55 pm
———–
LOL! I was waiting for that one, just wondering which one would say it first.

Maybe he already has… If he can treat 2 women right at the same time, even more kudos to him!

#158 Herb on 10.15.11 at 10:46 pm

#135 Moneta,

don’t worry about it – EVERYBODY is doing it. I just can’t figure out why.

#159 Sky on 10.15.11 at 10:50 pm

Marriage is full of risks and drama. Just like the market. It’s your one-stop-shop for reward and punishment-high highs and low lows. Incredible returns or treachery, deceit and hostile takeovers.

You get married and think you’ve invested in your own future but what you’ve really invested in is the future’s market. Maybe you’ve gone long. But your partner’s gone short.

You’ll have plenty of margin calls along the way. Which way is this thing going to go? Do you call or not? Sometimes you win, sometimes you lose.

Or you could get caught in a short squeeze. And your main squeeze walks out the door with all your assets.

You buy physical gold bars. So shiny and beautiful on the outside only to find them filled with tungsten.

Men are attracted to pump and dump. Women prefer churn and burn.

Children represent stock splits. Usually a good thing, but not always.

Commitment is but a small element in a successful marriage. All the commitment in the world won’t turn a bad stock good and you’ll end up riding it into the dirt.

Look before you leap. Do your homework. Aim for a balanced, well managed porfolio that’s long on spiritual discernment and giving rather than taking.

It’s your call.

#160 Aussie Roy on 10.15.11 at 10:50 pm

Aussie Update

BANK tellers are being offered Christmas party bonuses, free meals and other prizes to push more credit cards, loans and insurance policies on to customers.
Australia’s biggest lender – the CBA – has launched a “double up” campaign to push personal bankers and tellers into selling twice as many products, including increasing customer credit limits, each week.

The other three major banks – the NAB, ANZ and Westpac – are also forcing branch staff to meet stringent weekly sales targets as the “big four” battle each other for customers and market share.

http://www.news.com.au/money/banking/desperate-bank-staff-pushed-into-hard-sell-tactics/story-e6frfmcr-1226167538184#ixzz1auQ6XR7R

Thomas Jefferson definitely got it right 200 years ago when he warned that banks are more dangerous than standing armies, and that if allowed to control the issue of currency they will “deprive the people of all property until their children wake up homeless”.

http://www.abc.net.au/news/2011-10-12/kohler-economies-banks-and-standing-armies/3551820

Uncertainty about home price direction has set the tone ahead of the crucial spring auction season, according to data released today.

The Westpac-Melbourne Institute quarterly house price expectation index fell to 9 in October, from a reading of 15.3 in the three months to July – it lowest level since May 2009, a doubts about the strength of the housing market linger.

Within the national measure, 38.7 per cent of respondents polled in the Westpac-Melbourne institute confidence index see home prices rising in the next 12 months, while 31.5 per cent saw them unchanged. Almost one-third, or 29.8 per cent predicted falls over the next the year.

http://www.smh.com.au/business/uncertainty-clouds-start-of-spring-auction-season-20111014-1lorg.html#ixzz1auQaB3zd

A PEACEFUL protest in Rome in support of the “Occupy Wall Street” movement erupted into violence overnight with demonstrators hurling rocks and bottles and riot police firing back with tear gas and water cannons.
In a chaotic scene in an historic Roman piazza, violent demonstrators turned on police after smashing bank and store windows and setting cars on fire, AFP reported.

http://www.news.com.au/world/anger-boils-over-in-global-gfc-protests/story-e6frfkyi-1226167660149

I think most people would appreciate that the Australian property market is struggling at the moment. In most cities house prices are falling and the stock on market is high by historical standards.

http://www.macrobusiness.com.au/2011/10/why-agents-are-nervous-2/

#161 Moneta on 10.15.11 at 10:54 pm

Westernman on 10.15.11 at 7:15 pm
——–
I’ve made more money than my husband as he took the back seat while I had the big job. Despite this, everything is split 50/50 and if we split, we’d still each get 50/50. Relationships are give and take.

I’ve been told by MEN that I’m a fool but I can’t imagine having a healthy relationship without taking such a risk.

#162 bubu on 10.15.11 at 11:01 pm

Stevenson on 10.15.11 at 6:02 pm

Yes we are high in debt, but is unpayable debt? No. So unless everyone starts losing their jobs and decides to throw in the towel.

I know people who took 40y mortgage in 2007.. In theory, they will pay until they reach 80 years old… On top of that, they leave pay check to pay check and even $100 is a big deal for them… Do you think they will pay the debt?

#163 Chiquita Banana on 10.15.11 at 11:23 pm

Wow. I knew sexism was rampant in the comment section here, but the venom for Liz has taken it to a new level. If the story was about a man threatening to leave his wife over excessive spending, or for some other major difference in financial values, I doubt there would be so much as a whimper from the lot of you. Women read this blog too.

#164 Nostradamus Le Mad Vlad on 10.16.11 at 12:10 am


#147 Smoking Man — “The Sid Berrit that can keep it together in front of un adiance….”

Remember him well. In the early ’60s, Syd Barrett began The Pink Floyd Melody, evolved into The Pink Floyd then Pink Floyd. Died a few years ago, he was more of a painting artist than a musician.
*
3:51 clip BoA first stopped customers from emptying, then closing their accounts. Now Citibank is using the same measures; Obloodyhell the second para. is a quote from Aleksandr Solzhenitsyn, which is right on the money for what is happening daily now; California Facing its own GD. Might as well split from the states, as the US Fed isn’t doing it any good, and Lost Wages How quickly times change; Emergencies here, there and everywhere; Ten Companies on the at-risk list.

66 Things that can be grown at home, sans a garden; Regime Change Obomba, the super congress, republicrats and those associated with them are proven abysmal failures; Iraq So the US is leaving Dodge at the end of the yeaer. Undoubtedly, this will free up military personnel for the attack on Iran and invasion of Africa. Nice work, Oblasta; Turkey Turning away from NATO (damned murderers); Social Media An effective tool in spreading the message of Occupy thruout the world; Syria The UN says international action is needed to quell Syria. They haven’t done anything to anybody else; Mars, The Bringer Of War Was there a nuke explosion on Mars eons ago?

Survival Skills For the survivalists among us; Putin and China New natural gas deal almost complete; China’s Nukes The US is worried by them? What about the US’s arsenal? ‘Quake-o-Cano If Iceland’s ‘cano blasts off first, it could lead to the Canaries going ballistic.

#165 Harlee on 10.16.11 at 12:37 am

#149 Wait a week or two.
October 24th is three days too late. Didn’t you hear that Harold is now saying that the end of the sinners (realtors,etc.) is on October 21st ? The Rapture,that is. And it’s gonna be a BIG one too (Ya believe it pilgram….).

#166 Jane on 10.16.11 at 1:23 am

Hey Chris from yesterday, sell both pay off your debt and start again. Or you could hang out and watch as you get more and more into debt as the value of you places drops….

#167 this is wonderland on 10.16.11 at 1:24 am

Thanks for sharing Lisa.

After reading all the trash on this sight tonight, it was refreshing to hear someone speak so eloquently.

Best of all watching O’Leary trying to have an
intellectual boxing match with a Pulitzer Prize journalist, made my day.

#168 nonplused on 10.16.11 at 1:34 am

#69Solitario (Yesterday)

OMG, I so missed that! Obviously we know more about Garth’s Thursday through Saturday ghost writer now. It is a man, making things up.

Other views:

I am starting to think that maybe BPOE and Smoking Man are Garth subsidized phantom writers as well. They stir up the pot, and as much as Garth disses “Zerozero” as he calls it, I bet he would love to get 1000 comments for 20 posts a day. It means somebody is reading, even if most of the Zerozero responders are morons.

Everybody responds to BPOE and Smoking Man. Why? They say nothing. I think nobody could be as stupid as BPOE. Smoking Man may just be on meds. But I think they are both made up, by somebody even if it isn’t Garth. Stop reading and stop replying.

#169 Onemorething on 10.16.11 at 2:01 am

Hey Lizzi, us men thank your for that…please spread your message around! God Speed!

Sell real estate, buy liquidity. Ensure no more than a third of your net worth is in your house, or that you have a solid plan to get there. Finally, if you rent, give thanks. In the fullness of time you’ll buy for less, owe smaller and live better.

Amen Garth! Amen!

#170 wclay on 10.16.11 at 2:14 am

If you think the average woman has security issues, try an adopted woman from a dicey or broken adopted family. I read above that 80% of divorces are filed by women? I’d like to see the source, ’cause I believe it. When I was selling real estate in Whistler very briefly in early 2005, I chatted with a lot of well-to-do U.S. and 416 couples and I’ve never heard the phrase “happy wife happy life” more often. It made me so angry. Maybe men realize women feel like first-nations or Quebecois, conquered people that forever want reparations. Maybe women should realize that if MEN ever put their foot down on the reparation subsidies, women would be marginalized back to the 1920’s. The men that engineered the recent financial meltdown consider women’s issues to be barely worthy of a fly whisk. Look what Barbara Amiel became reduced to under the money blanket of Lord Black. At what age are men supposed to learn that women act soft and romantic but are hard and mercenary, whereas men act hard and mercenary but are soft and romantic? Thirty-something? Fifty? Child support should come in the form of vouchers for goods and services, not cash. Child support — delivery to the child — should be regulated and supervised by social workers, not the $500 a month the truly downtrodden subsist on.

#171 Patz on 10.16.11 at 2:53 am

Wow! that quote from Real Estate land (which should be called Bizarro RE land) is mind–warping. So I linked on over to the site. Here’s what I found in the comment section:
I image this could be diverse upon the written content material? having said that I still imagine that it can be suitable for nearly any type of subject subject matter, as a result of it could ceaselessly be gratifying to decide a warm and pleasant face or possibly pay attention a voice whilst preliminary landing.

I scrolled down a few more of the comments and they all made about as much sense. So, I think they not only ‘write’ their own copy, but the comments as well. Or, they’re Klingons struggling with ESL.

#172 Aussie Roy on 10.16.11 at 3:05 am

Aussie Update

Bidding war erupts between agent and bidder.

Inner city town house – http://www.realestateview.com.au/Real-Estate/346a-angas-street-adelaide/Property-Details-buy-residential-3123913_S.html

It’s too low agent cried, F you says bidder.

Was truly a strange affair. There were 26 people but only 4 registered bidders.

The auctioneer started his waffle about torrens title in the city centre, nice house, sun coming through the windows blah blah. And then asked for bids, no response. Then he waffled on for another 5 minutes and asked for bids, no response, this happened 3 more times. The auction been going for over 20 minutes without a bid.

He then said “last year this house would have had a million dollar bid on it within seconds”. Then a guy standing near the back offered 700k. The auctioneer refused the bid because it was too low. Then the guy started arguing with the auctioneer. They literally argued during the auction. It was very funny.

http://www.simplesustainable.com/topic/4437-adelaide-auction-anecdote/

#173 wtf????? on 10.16.11 at 4:14 am

Garth….according to all the ‘experts’ you are wrong sir!

http://business.financialpost.com/2011/10/15/condos-no-longer-a-sure-bet/

According to the people that matter Canadians should be piling into real estate to ‘leverage’ their investments……into a ‘safe as houses’ strategy. Apparently…you can’t lose.

#174 Cow Man on 10.16.11 at 7:37 am

#113 Waterloo

Not only is the TSX ratching lower just look at the CDN banks.

http://www.theglobeandmail.com/globe-investor/markets/stocks/summary/?q=ZEB-T

Not only have they not regained their annual starting point, they must go up for the TSX to go up. Banks lead the way down and back up. Too early for Garth to shave the play-off beard! The game is not over yet.

#175 Mr Buyer on 10.16.11 at 8:21 am

#126Herb English usage allows for both lucked in and lucked out as positive expressions of good fortune. A living language changes. I can only guess that lucked out may have been used to express ultimate unexpected good fortune as the result of percieved bad fortune (say someone losing out in a bidding war for some of these 50 year old houses. I would say something like, in hindsight it looks liked I lucked out losing that bidding war). After a few weeks or years of using lucked out it likely came to mean outright lucky (thats my story and I am sticking to it). As for the North American female, well I am married to a Japanese woman. I fear for my two sons. I am guessing my daughter will be okay when she gets married but to tell the truth most of my guy friends are all divorced and contrary to popular belief it is devastating for the children (never mind the father. as a biologist children seem to be the point of it all). My grandmother had 10 kids and worked from morning to night until she dropped dead. My mother watched daytime tv all day for a few decades and chewed out her husband when he got home (after he started cooking dinner). My wife gets up at 5am and drops dead at 10:30pm everyday. I know there are a ton of hard working, loyal, reasonable women in North America. I just did not meet many and anything they are saying is being drowned out by a ton of nutbars (I mean really, if my daughter wanted to get a BA in Women’s studies I wouldn’t know what to say to her). I think I am on the wrong blog so I will finish up quickly. There is a very large world outside of North America and not all of it is looking at North America with envy but rather shocked disbelief (much like a car accident). I can tell you now that we better remain strong because there is a wide world living without, looking in and seeing gluttony and self indulgence. As much as they shower compliments I have a sneaking suspicion they would be more than happy to kick our asses around the block. As for boomers investing unreasonably well they are boomers, you know flower children, the 60s, LSD, to hell with the man. The ME generation. I have a feeling they have all their mortgages insured, meaning insurance companies are on the hook when they kick. The boomers are just going to pay off Master Card with Visa and Visa with the overdraft (sp?) and if they even care about their kids they will leave paid off RE behind (if this is possible). Anyways lucked out is okay…Something tells me I should not press the submit button on this post but what the hell, here goes.

#176 allister on 10.16.11 at 8:42 am

Why would HAM buy Van when they could buy sunny California for 50% off?

http://www.doctorhousingbubble.com/three-faces-california-housing-correction-burbank-condo-hacienda-heights-home-burbank-investment-property/

#177 allister on 10.16.11 at 8:54 am

What do Ireland and Van or TO have in common?

http://dailyreckoning.com/finding-reason-in-the-irish-real-estate-market/

#178 Beach Girl on 10.16.11 at 9:10 am

SMOKING MAN

#115 Beach Girl on 10.15.11 at 3:11 pm

Beach Girl do……..

(HAVE AN IDEA WERE THIS WAS GOING) (HA HA) have heard worse.

DELETED

I personally believe people should only marry once. When they both have nothing, and a plan together. After that, what is the point. You both realize true love does not exist. And you both can’t stick it out. SIMPLE.

Enjoy what is left.

#179 Calgary Car Guy on 10.16.11 at 9:15 am

#155 Westernman said ” have you thought about changing your name and running away to join the demolition derby?”

Actually I have considered running away to SE Asia and living off what money I was able to salvage from the divorce. I could last about 5 years I figure. Maybe I could get a job teaching English or being a bartender or something. The reality is though that I couldn’t do that to my daughter.
What was really an extra kick in the nuts was when the company I had been with since ’93 decided to cut my pay by 20000 a year two months after the separation agreement was signed. I had been making the same commission percentage for 25 years (including my previous employer) but as parts and labour prices rose over the years my pay increased so I was content with that. Then one day they figured I was making too much money—nice. I didn’t see that coming as the dealership I’m with is one of the top-rated in the country.
Another nasty thing about those separation agreements is that you are bound to pay that money every month no matter what happens in your life. The child support amount will vary year to year based on your previous years income but the alimony is written in stone.
My hope now is to make it through to the end of the agreement and then save as much as possible between 58 and 65. Then I hope to be able to work only six months of the year and live the other six months in Asia. I love it over there and its dirt cheap to live in most places.
Here’s a really good tip for everybody. If your partner has a job that often pays in cash and not all of it is declared (ahem) you will get royally screwed in a divorce because you can’t show how much money your partner actually made throughout the marriage. Declare all income every year or you’re setting yourself up for a problem in a divorce.
Thank dog my trailer rent is dirt cheap and I owe no other money. I still can have a little bit of a life.

#180 Pat on 10.16.11 at 10:28 am

@#161 Moneta,

Are you saying you’re a woman? I don’t believe you.

#181 detalumis on 10.16.11 at 10:28 am

#175 Mr. Buyer, I don’t see much difference between the description you gave of your Japanese wife’s life and your grandmother’s actually; except for the number of kids they seem very similar. Am I missing something?

#182 The American on 10.16.11 at 10:43 am

AT #127: 16th BPOE, there you go again not knowing a damn thing that you’re talking about. Mark Zuckerberg (you may actually want to learn his name if you ever wanted to sell him a home, and you also may want to take note he is worth #13.5 Billion – not $6 Billion) has already bought a home. He is not a renter. Any good realturd on the planet would know that. He owns a little $7 Million pad in Palo Alto, CA. Believe me, he’s not buying shit in puny, dreary , rain-stricken, no-arts, no-music, nothing-to-do Vancouver.

http://www.dailymail.co.uk/news/article-1384071/Facebook-founder-Mark-Zuckerberg-buys-home.html

http://www.zdnet.com/blog/facebook/facebook-ceo-buys-a-7-million-house/1382

Remember our little conversation? Every time you tell a lie, I am going to call you on it and provide proof you lied. All it does is discredit you each time. You must be retarded or something.

Vancouver has four billionaires with total assets of $12.23 Billion (aggregated, they still have less than the American kid, Mark Zuckerberg), and they are as follows:
Jim Pattison at $5.73 Billion
Chip Wilson at $2.85 Billion
Mansoor Lalji and family at $2.05 Billion
Bob Gaglardi at $1.6 Billion

Seattle has double the number of Billionaires as Vancouver, and their total assets are nearly $120 Billion. That’s nearly TEN TIMES THE WEALTH of that what is found in wannabe Vancouver, 16thBPOE: Oh, and please remember Bill’s worth listed below is after the $38 Billion he has given for a charitable foundation:
Bill Gates at $56 billion
Steve Ballmer at $14.5 billion
Phil Knight at $12.7 Billion
Paul Allen at $13 billion
Jeff Bezos at $18.1 billion
James Jannard at $3 Billion
Craig McCaw at $1.7 billion
John Orin Edson at $1 billion

Again, the numbers speak for themselves. Billionaires (especially the big dogs) choose Seattle over Vancouver. There are many reasons because of this. Far too many in fact to get into on here. Mark isn’t buying shit in Vancouver – that’s my guarantee.

#183 Aussie Roy on 10.16.11 at 10:47 am

Aussie Update

YOUNG battlers are resorting to unconventional ways to break into the housing market.

A growing number of parents are using their own homes as security so their children don’t have to stump up a deposit.

Others are buying with friends and family, renting out a room or buying an investment property to make a start.

Aussie Carnegie mortgage broker Mark Daly said family equity loans, which can allow applicants to borrow the entire value of a home and avoid costly mortgage insurance, were becoming more popular with younger cash-strapped buyers.

http://www.heraldsun.com.au/money/young-bank-on-family-home-for-loan-security/story-e6frfh5f-1226133621971

Meanwhile in England

House prices fell by 0.3pc in September, wiping just £594 off the cost of the average home, according to the latest LSL Property Services/Acadametrics House Price Index.

This ends a two-month run of modest rises, but on an annual basis the cost of the average home has slipped by 2.3pc – or an average of £5,240 – over the past year.

According to research, the average home in England and Wales is now worth £218,650.

http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/8825375/House-prices-fall-5000-in-year-to-September.html

#184 Paradigm VS Paradigm on 10.16.11 at 10:59 am

Be thankful (blog dog edition)
#29 Nostradamus Le Mad Vlad on 10.09.11 at 11:44 pm
Plunderment link to Ellen Schultz – Retirement Heist
Go there – learn – tell anyone who will listen – why 99%?
Through the years I have found it difficult to understand the philosophy of the generations I have followed. The secret handshakes, collective clothing and coded comments. The exception was speaking to people about how they got on in life during the Depression years. Their experience seemed grounding, if they were able to accumulate, it did not change how they expected to live. They dealt with anxiety and fear with brutal honesty and stubbornness. They dealt with impoverishment by using OP’s (other people’s) such as renting during a time when it was difficult to come up with the resources of owning. Where there was want of hope one could find brash over the top characters, with great stories true or not.
As I approach a period where the generations are coming up behind me, I wonder why there is so little interest from the people of the future, about learning anything about our past. In closer circles I have instilled the ability to live off the land, even as a weekender, just to keep up the skills and kit required. The curiosity (knowledge bases) of what is possible (how to) so as to never be unable to meet a challenge. Nobody knows everything, nobody can do everything, but, even I don’t know if I cannot learn something, or do something without trying. And like any musician will tell you, you may not get it the first time.
Back to the past. If we were lucky we grew up vocationally. We understood do it yourself & spend no money. Yet in my pursuit of doing as much as possible for myself I’ve had to accumulate resources. Planting seeds without the fore thought of owing a hoe is an expression of ignorance. Living as well as we can with out owing a screwdriver or drill goes beyond apathy.
In the time I spend with future generations I like to ask how many days of food are in the house?
The answer contrasts to mine of a few days to many months or years.
Pensioners will not serve history by playing left/right protestors. It only provides fuel to the fire.
99% will not be remembered looking for ‘do it for me’ fixes, when they crave productivity.
The skill of evaluating the difference between a pantry and a grocery store’s profit is diminishing.
Groupism is not an individual’s path, and one voice will not be heard in a crowd. One by one were the apple trees planted, but each tree along the way gathered around it generations.
Our last and maybe lasting contributions to others may find us in student halls at colleges and schools sharing what we have learnt about, feeding ourselves, fixing things around us, showing others how to find information and how to marshal resources. It may not be revolutionary, it may be seen as simply crazy, but we can really only pass on our unique self-sufficient and sustainable discoveries our lives have been gifted with.
Or we as people will be fooled again!

#185 Marc L on 10.16.11 at 11:02 am

#178 Beach Girl

You must be so unhappy in life, I truly feel sorry for you.
I hope you at least have a couple of close friendships in life.

#186 Mr Buyer on 10.16.11 at 11:08 am

#181detalumis that was my meaning (minus 7 children)

#187 The American on 10.16.11 at 11:14 am

16th BPOE, by the way, here’s another fun fact for you:

Washington state has 226,000 millionaires living in it today and 6,744,496 residents. The area it covers is 71,300 square miles (only about 20% the size of B.C.) That makes 3.35 % of its total population millionaires, concentrated in an area that is less than 1/5 the size of B.C.

British Columbia has about 58,000 millionaires living in it today and 4,510,858 residents. The area it covers is 364,764 square miles. That makes 1.28% of its total population millionaires over a mass 5 times larger than Washington State.

16th BPOE, you’re not impressing anyone with your “Ferrari talk.” The state I live in already has over 2.6 times the number of millionaires in B.C. in less than 1/5 the land mass. Millionaires in Seattle are tripping over one another every day, and guess what… NOBODY GIVES A RAT’S ASS. True wealth is expressed in terms of discretion – not flamboyance. You’re so nouveau riche.

Yes, and one more tidbit of reading for you… British Columbia has the worst record for child poverty. Children are dying there due to conditions of poverty. Are you GIVING anything back to help them?
http://www.theglobeandmail.com/news/national/british-columbia/bc-child-poverty-at-play-in-21-child-deaths-childrens-advocate/article1885671/
http://bctf.ca/uploadedFiles/public/Publications/BC-TheWorstRecord.pdf
http://www.povnet.org/node/4755

Mass exodus in Vancouver!!!
http://www.news1130.com/news/local/article/253283–mass-exodus-of-workers-predicted-employment-expert
http://www.vanmag.com/News_and_Features/Gone
http://vreaa.wordpress.com/2011/02/16/doctors-leaving-vancouver-my-friend-a-surgeon-at-childrens-hospital-said-he-couldn’t-have-the-life-he-wanted-in-vancouver-because-of-the-insane-real-estate-prices-here/
http://vreaa.wordpress.com/2010/01/24/leaving-vancouver-is-like-leaving-an-insane-asylum-to-question-re-is-like-questioning-the-existence-of-a-god-to-a-group-of-christian-fundamentalists/

#188 live within your means on 10.16.11 at 11:43 am

#163 Chiquita Banana on 10.15.11 at 11:23 pm
Wow. I knew sexism was rampant in the comment section here, but the venom for Liz has taken it to a new level. If the story was about a man threatening to leave his wife over excessive spending, or for some other major difference in financial values, I doubt there would be so much as a whimper from the lot of you. Women read this blog too.

…………………..

I’m one, and I too am amazed by the venom and the conjecture made by so many men. Did it ever occur to some of you men that you might be also be at fault for your marriage failure? As my deceased Dad used to say, it’s about compromise and sometimes is 25/75 and percentages change from day to day in relationships.

#189 T.O. Bubble Boy on 10.16.11 at 12:01 pm

What? Someone said that the Realtors and RE Cartels manipulate their data?

Yes – how else can you explain the lack of listings yesterday? (don’t tell me it is because of Occupy Toronto either):
3 total houses being listed yesterday (the 15th of the month, when mid-month figures are produced), and then about 200 new/changed house listings today.

For comparison’s sake, the previous 2 Sundays in October had about 50-60 new/changed listings, and the previous 2 Saturdays had 100-200 new/changed listings.

#190 Herb on 10.16.11 at 12:20 pm

After 180 or so comments, we discover that marriage really is like real estate. It always goes up (“it’s different here”), some people get burned to a crisp (not much jingle mail in divorce proceedings), some move up or downsize as applicable, some can’t afford to get out of a house (or marriage) as much as they would like to, and some people accommodate themselves to circumstances and stay with the house (or spouse) they’ve got. Heck, you “luck in” or “strike out” (let’s be logical, Mr. Buyer.)

There is a lot of real life in these comments. Thank you Liz for unwittingly starting the daisy chain, and I apologize for the abuse from male chauvinist pigs. Remember they probably turned into bacon because they got fried, so they deserve some understanding too. Here’s hoping that Moneta’s eternal love does last forever, although the usual period of eternity seems to be two years. And I much appreciate Beach Girl’s sense of realism – there’s a lot to be said for “the sadder but wiser girl”.

Hemingway wrote (in Death in the Afternoon) that love is like a balloon out of which the air escapes slowly, and there is nothing you can do to put it back in. Real estate bubble, anyone?

#191 Tony on 10.16.11 at 12:24 pm

This is a bear market rally not a correction in a new bull market. The idea is to sell the rallies not buy the dips. As can be seen by the small bounce in commodities all the smart money is still short the market.

#192 Screwed in BC on 10.16.11 at 12:39 pm

# Lisa

Kevin O’Leary is an obnoxious idiot. I do not understand how this guy is on TV as a commentator.

#193 Nostradamus Le Mad Vlad on 10.16.11 at 12:49 pm

#151 shanks — G’day shanks, and good grief, why the hell am I up so early? Musta wet the bed!

Anyway, check out post #164, very last link about Iceland’s ‘cano burping again and the links in prior posts, along with underwater pix and map showing El Hierro blowing its top.

If these two go off together, that will sure put the cat among the pigeons. As to timing, your guess is as good as mine. Cheers!

#159 Sky — “Aim for a balanced, well managed porfolio that’s long on spiritual discernment and giving rather than taking.”

Great post and an even better sentence — thanks!

#165 Harlee — “Didn’t you hear that Harold is now saying that the end of the sinners (realtors,etc.) is on October 21st ? The Rapture,that is.” — Ah the rapture. It’s all good, ‘coz everything and everyone is all connected one way or the other.

Personally, I prefer Smoking Man and Timothy Leary’s POV — turn on, tune in (to some classic Floyd, etc.) and drop out.

Like Smoking Man, I’m a complete and utter abject failure, one of humanity’s rejects and I appreciate that!

#178 Beach Girl — “I personally believe people should only marry once.” — Agreed. One is sufficient. Anything more, one’s brain becomes scrambled eggs. Good post.

#184 Paradigm VS Paradigm — By far and away, history is one of the greatest teachers of all. We could all learn so much from our forefathers.

“The exception was speaking to people about how they got on in life during the Depression years. Or we as people will be fooled again!”

One of the people I used to work with had first-hand experience of living through GD1, the only difference being that her family lived on a farm.

Consequently, they were never in want for anything. They had sufficient food to feed themselves and others, as strangers used to frequent their farm and ask for food.

They had no need for materialism — whatever was broke got fixed, and was able to be used again.

My mother and G-mother lived in the Channel Island of Jersey, 14 miles off the French coast. The Channel Islands were as far as the Germans got to invading England.

They also used underground tunnels (like the Vietcong), to assist fellow Jersey people who needed help, and smuggle goods in and out of the islands. It was a good learning experience for them, on-the-job training.

Thanks for your post!

#194 TurnerNation on 10.16.11 at 1:57 pm

I am so tired of hearing about “the market”, and “getting in to the market”. Dowtown Toronto is saturated with 500-800sq foot condos, running from $280-800,000k, all with $300-800/mo condo fees.

Do people know even what they are getting in to ?

“The market” is an over the counter, unregulated market – much like the financial Forwards market, with tons of counterparty risk.

Buying a condo with a 30yr interest-only mortgage (or LOC) is kind of like entering into a 30yr OTC interest rate Forward contract with your bank. At the end of 30 years you agree upon return of principle after making periodic floating rate interest rate payments.

Buying a condo for rental? Closer to interest rate Swap: you pay variable rate to the bank (and variable taxes, condo fees), all while receving a fixed rate from your renter.
You also assume counterparty risk twice: your own risk (loss of job, etc.), and the risk of your renter’s default.

Sound complex? Yep. And [email protected] has people much smarter than you, crunching numbers in the background. They will rip your face off in this trade. The house (no pun) always wins.

#195 XTR on 10.16.11 at 2:08 pm

I agree with most of the things Garth stands for and there is a lot of useful investment information on this blog, but it is all spread over numerous posts and likely for a good reason. For those who want to follow Garth’s advice and keep it simple and still go DIY, there is a good ETF trading on TSX: XTR from iShares. If has all the components Garth has been preaching about (bonds, stock, REITs, preferreds, you name it), has MER of 0.55% and returned 5.46% over the last year (as of Sep 30). It is an ETF and ETFs and is automatically re-balanced. I am sure if we account for the recent run-up, the return would be even better.
Anyone else looking at this ETF as a means to get a one stop exposure to all important asset classes?

#196 LS from Arbutus on 10.16.11 at 2:08 pm

#175 Mr. Buyer

My wife gets up at 5am and drops dead at 10:30pm everyday. I know there are a ton of hard working, loyal, reasonable women in North America. I just did not meet many and anything they are saying is being drowned out by a ton of nutbars (I mean really, if my daughter wanted to get a BA in Women’s studies I wouldn’t know what to say to her).

——————————-

Sorry Garth, this is not about real estate or the economy but all this Cdn women bashing is starting to rather irritate me now. I don’t know what planet all these men come from!

Mr. Buyer – I lived and worked in Tokyo for 8 years, I am fluent in Japanese and I also lived in Japan when I was 17 for a year as an exchange student. That is, I am qualifying myself to make the following sweeping generalizations, like you do all the time, because you are married to a Japanese and live in Japan.

My overall conclusion from living in Japan is that people are people. Regardless of race, culture or religion we are all driven off the same desires. There are just as many stupid, lazy, selfish and crazy Japanese men and women as a percent of the population, as there are stupid, lazy, selfish and crazy Canadian men and women. Overall, I think the Japanese women win in the crazy category (and they don’t even have women studies and that should tell you something!) and Japanese men likely win the lazy category.

My Japanese homestay mothers were very hard working women, but no harder than my own mom who had three children, cooked/cleaned and worked full time and put us all through university, as a single mom, with little to no help from my father. In Japan, that wouldn’t even be possible I don’t think, since they’re a good 20 – 30 years behind treating a single mom like a human being. (We barely still can do that in Canada.)

The new generation of women, they’re certainly not homemakers. For one, their mothers did everything for them so they’re clueless and second they’re too busy, like North American women, working and bringing in a paycheque. And many who make their own money decide not to marry. My Japanese teacher, educated at Tokyo University (Japan’s Harvard) said, of Japanese men, that she thought it would be better if 90% were dead. This was from a typical Japanese who would NEVER ever say anything bad about their own country.

I love Japan and the Japanese. Japanese are very industrious. On average they are willing to work for the greater good as a group and are less selfish overall. They do some things better and have some better things in their society, but there are pros and cons. Don’t make Japan and the Japanese out to be perfect, better, harder workers and smarter, they are not. They’ve got lots of warts and problems as well.

Also and I am sure your realize this, I hope you are raising your children to understand that Canada is a great country. I hope you’re ensuring they will be educated part time in Canada as the Canadian system will likely benefit them much more in the long run. I hope you are ensuring their English is as close to native as you can get it so they will have options to leave if they grow tired of being treated as 2nd class citizens or outsiders. The reality is that being of both races in Japan is definitely not in their favour – even more so in Inaka (backwater) Japan.

#197 LS from Arbutus on 10.16.11 at 2:37 pm

An example of how hard women had it not too long ago.

My mom was born 1939, my dad 1929. In the early 80s she left my dad because he was an alcoholic. He was a functioning alcoholic, as many are, made good money but verbally abusive. Borderline crazy.

She could leave only because she worked full time and earned as much money as an average man. In 1982 she went to buy a house valued at approx $30,000. That was approximately what she made, so 1X income. No bank would give her a mortgage unless my dad co-signed, except for the Royal Bank.

The brand new house my mom and dad build in the mid-70s was in his name only. She said that was how it always was. Homes were in the man’s name only. The house they built together (with her money as well) was valued at 3+ times the house she was buying. And guess what he stayed in the house. In fact the only thing my mom got from him in the settlement was $20,000 and child support of $200 a month. (Which, he never paid, but for $800 – she and I bought a VCR in 1985-ish with that, I remember it. Hard to believe a cheap VCR was $800 thrity years ago.)

Being vindictive he had all her credit cards canceled. Sears wouldn’t give her a credit card on her own. Dad had to co-sign. Woodwards would.

This is only 30 years ago. She earned as much as an average man and was denied the same benefits. And she had it “lucky” as she had such a good paying job and could escape. Many couldn’t and had to put up and shut up.

My mom says two things 1) if she ever got married again she’d marry a women, someone to cook and clean and bring home a paycheque and 2) make re you’ve got a good education so that you never HAVE to rely on a man for anything. Women didn’t have it that great in the generations before this and in the very near past.

#198 Beach Girl on 10.16.11 at 3:14 pm

#185 Marc L

#178 Beach Girl

You must be so unhappy in life, I truly feel sorry for you.
I hope you at least have a couple of close friendships in life.
______

You sound girly. Are you watching day time TV shows. I don’t know any men who issue statements like that. Not sensing any testosterone.

Actually, I am quite happy, good friends, and financially secure. And 2 ex’s of 13 years a piece, who still care for this old girl. I can be monogamous. Just nothing I’ve seen is too appealing at the moment. There are a lot of broke people out there, beware.

They seem to fall in love easier than most.

#199 Beach Girl on 10.16.11 at 3:22 pm

#190 Herb

Liking that post.

When a man says something that rings like the truth, people applaud him (maybe because everyone is shocked). When women talk turkey, they are reviled.

#200 Marc L on 10.16.11 at 3:37 pm

#185 Marc L

#178 Beach Girl

You must be so unhappy in life, I truly feel sorry for you.
I hope you at least have a couple of close friendships in life.
______

You sound girly. Are you watching day time TV shows. I don’t know any men who issue statements like that. Not sensing any testosterone.

Actually, I am quite happy, good friends, and financially secure. And 2 ex’s of 13 years a piece, who still care for this old girl. I can be monogamous. Just nothing I’ve seen is too appealing at the moment. There are a lot of broke people out there, beware.

They seem to fall in love easier than most.

___________

To BeachGirl

I thought you were smarter than that, you actually bought into my sarcasm. You probably believe men when they say that they love you. Good luck with your illusion. And I’ll pray for the third guy you’ll sink your claws into for 13 years to build up your financial security. Get out there and get yourself a career. Oh, wait, sociopaths like you don’t ever change.

http://en.wikipedia.org/wiki/Sociopaths_in_society

#201 Devore on 10.16.11 at 3:43 pm

Well, it’s been a long while since we had a good old fashioned women hating session!

Garth, unless you plan to make some kind of a point here, you’re doing your readers a great disservice publishing these pointless comments. It’s nice that we get to find out who’s who in the zoo here, as one by one they come out of the closet, but many just get turned off.

I don’t edit out stupid. — Garth

#202 TurnerNation on 10.16.11 at 3:49 pm

Funny sign from Occupy Toronto, I found:

http://farm7.static.flickr.com/6154/6248473210_ccf7aa21ab_b.jpg

#203 Smoking Man on 10.16.11 at 4:52 pm

#200 Marc L on 10.16.11 at 3:37 pm
from your link…………

A sociopath is somebody who exhibits sociopathy, who behaves in a way that suggests a lack of empathy or remorse. Unlike the average human, a sociopath does not feel any sense of guilt or remorse when committing morally wrong actions or actions that their society deems unacceptable. Because of this utter lack of fear for the sanctions of society, sociopaths take advantage of the social system and use manipulation and amoral behaviors to obtain their goals. The types of behaviors they exhibit are those that would make someone with a conscience uncomfortable.

Now let’s pic that appart……

“Unlike the average human” First off Who wants to be average-SM

“a sociopath does not feel any sense of guilt or remorse when committing morally wrong actions or actions that their society deems unacceptable. Because of this utter lack of fear for the sanctions of society” Kill or be killed-SM

“The types of behaviors they exhibit are those that would make someone with a conscience uncomfortable.”

What is a conscience? something a teacher put in your head to weaken you -SM

If you think about it, if we where aminals all the non sociopath would get eaten…………………………

#204 Smoking Man on 10.16.11 at 4:54 pm

#202 TurnerNation on 10.16.11 at 3:49 pm

Great pic and very true might I add……………..

#205 Smoking Man on 10.16.11 at 5:06 pm

#178 Beach Girl on 10.16.11 at 9:10 am

I was just flirting perhaps I should of used another word to avoid Garths delete button …o well that’s what bozze does Plus I only do ladies of the night…

My favorate charity to make donations LOL

I agree with your statment It’s right on……….

#206 Smoking Man on 10.16.11 at 5:07 pm

#192 Screwed in BC on 10.16.11 at 12:39 pm

Perhaps if you were a little more like O Leary you would not be screwed

#207 blase on 10.16.11 at 5:25 pm

My original point was that the Canadian system encourages women to leave their marriages, especially if the woman doesn’t work but her husband does, and if they’ve had children. Elizabeth is a case in point. There are too many fly-by-nighters who would like a do-over, and the system rewards women who have quit careers to stay at home, and punishes fathers who have solely supported their families financially. It’s an unfair system in it’s current form in my view, but women, if you disagree, by all means explain why you think it’s a fair system in it’s current form.

#208 live within your means on 10.16.11 at 5:33 pm

Sis just called me to say that her Dr. called her to give my sis’s test results. Yep late Sunday aft. Tho her family Dr. was not taking on any new patients, she’ll take me on. I don’t like my current family Dr. Our last Dr. (with her for at least 17+ yrs.) didn’t have the decency to let us know that she was retiring. She transferred our files to our current Drs. which neither I nor my husband like. Hopefully, I can convince my new Dr. to take on my hubby as a patient as well. Years ago we had a fab Dr (walk in). Wore shorts, t-shirts, etc. Could talk to him about everything. He was originally an American Dr. At the time he was treating so many HIV, etc. patients and burned out. Read in a local paper that he might resume his practice so I contacted him via email. He replied ‘sorry’ am burned out. Appreciated that he took the time to reply to me. He’s still involved in the medical field.

#209 LS from Arbutus on 10.16.11 at 6:05 pm

#207 Blase

I suppose the system isn’t perfect however one has to admit there are abuses on BOTH sides. Men paying nothing and women getting too much.

In this day and age, where it’s close to an equal number of women making as much or more as their husband, the laws ensure both are protected. That is, you’re going to find an equal number of husbands entitled to spousal support as women.

I don’t know how many couples you know where the wife doesn’t work or didn’t used to work. I don’t know many. The more prevalent story of abuse that I hear is that there’s a divorce, the women takes the kids and is responsible to raise them with limited support from the husband. It’s not the husband isn’t capable to pay, he refuses, quits his job, hides income, whatever to deny the ex (and his children.) These stories seem to far exceed the taken to the cleaners stories. I might add, is it getting taken to the cleaners when you’re supporting your children? Or should they live in poverty?

However, I guess men would prefer the old system that was squarely in favour of them?

Equal Under the Law
Canadian women fight for equality as the country creates a charter of rights

Equal rights were enshrined in the Charter of Rights and Freedoms, which came into force April 17, 1982.

http://www.cbc.ca/history/EPISCONTENTSE1EP17CH2PA4LE.html

#210 Marc L on 10.16.11 at 6:06 pm

re: #203 Smoking Man

Dear Smoking Man

If you are happy with being an animal and sociopath, fill your boots. It’s sociopaths that are ruining the financial system. So decide which camp you want to be in.

To survive we need ‘healthy’ narcissism, not sociopathy.

#211 Beach Girl on 10.16.11 at 7:06 pm

#185 Marc L

#178 Beach Girl

You must be so unhappy in life, I truly feel sorry for you.
I hope you at least have a couple of close friendships in life.
______

You sound girly. Are you watching day time TV shows. I don’t know any men who issue statements like that. Not sensing any testosterone.

Actually, I am quite happy, good friends, and financially secure. And 2 ex’s of 13 years a piece, who still care for this old girl. I can be monogamous. Just nothing I’ve seen is too appealing at the moment. There are a lot of broke people out there, beware.

They seem to fall in love easier than most.

___________
To BeachGirl

I thought you were smarter than that, you actually bought into my sarcasm. You probably believe men when they say that they love you. Good luck with your illusion. And I’ll pray for the third guy you’ll sink your claws into for 13 years to build up your financial security. Get out there and get yourself a career. Oh, wait, sociopaths like you don’t ever change.

http://en.wikipedia.org/wiki/Sociopaths_in_society
_____

Darling, I guarantee you could not tie my shoe laces financially. I have owned a Ont numbered company for 25 years and own 5 houses. I do not need anyone to secure my financial future. When do you move out of your parents’ basement.

And I assure you I am packing bigger cajones than you. You are probably hung like a hamster.

PLUS Smoking Man. If you were not married you would be mine.

Why does everyone assume a wealthy woman can’t make her own fortune?

#212 mel in victoria on 10.16.11 at 7:53 pm

Garth………I have an opening for a marriage counsellor…wanna branch out??

I’m too sensitive. — Garth