Lamb chopped


Earlier this week I helped the little beavers at Maclean’s magazine by asking you for your list of craziest stupid things that have happened in frothy Canadian real estate. They will crib the best ones, glue them together then put a byline on. This is called ‘journalism.’ Those are the words that keep the ads from banging into each other.

Of the thousand or so suggestions offered here, one near the top of the OMG!-list was the claim that buying a condo in Calgary or Toronto could net you a 282% return on investment. Remember this?


The developer based this fiction on unrealistic rental income, didn’t factor in tax or vacancies, called debt repayment profit, ignored rate hikes over ten years and stated the condo would go up in value for a decade. But what the hell? Greed is good.

The developer is Brad Lamb. And now Toronto’s lofty, Rolls-driving, HGTV star, legendary billionaire developer, get-rich seminar presenter, condo king is slaughtering me. Mopping the floor with my sorry butt in a new poll on who’s “the most trustworthy expert” on real estate.

The creds slugfest between Turner, Lamb and five other notables is taking place on a site called BuzzBuzzHome, where writers regularly drool over new condos with exploding glass balconies, uber cool spaces with poured concrete bathrooms, and anywhere Italian formers in plaid shirts and orange hard hats mingle with metrosexuals with bicycle clips.

Now this is probably a watershed moment. For the last five years this site – the penultimate gathering post for the country’s grandest real estate BSDs – has completely ignored me, as most of the planet so wisely does. But suddenly here’s a poll aimed at its condomaniac fan base, asking who they trust about the future direction of the housing market. This is like asking the chickens if they want to vote for Colonel Saunders. Clearly the outcome the BuzzBuzz crowd hopes for is a Lamb ChopChop.

By the way, also in the running is David Madani (being similarly slaughtered as I write this), the chief economist at Capital Economics – a straight-up guy who has unwaveringly forecast a 25% decline in house prices. Then there’s Ben Rabidoux, an analyst and blogger who has enjoyed moments of clarity and some turgid lucidity. When he’s not shilling for the National Bank.

Voters can also choose two industry insiders and perpetual housing boosters. Ben Myers of Urbanation told Toronto Star readers a few months ago “there is no condo bubble” shortly before sales collapsed, and George Carras, of RealNet. And then there’s Globe and Mail columnist Rob Carrick, who is intelligent enough to use GreaterFool as a frequent source, but works for a paper that expects you to pay 99 cents a month to read him. Get real.

Well, as I report this to you, I see that BuzzBuzzHome just put out a tweet to its millions of house horny young followers, exhorting them to come and vote. Interestingly enough, this comes just days after we’ve learned resales are down by 15% in Toronto, and will likely be falling much further in March. Condo resales have tanked by 20%, those prices are lower by 5%, and new condo sales collapsed in January year/year by 35%.

Or is Mr. @garthturner the only opinion worth trusting on #Toronto’s real estate market? Vote it >>

Well, like it or not, there’s only one direction for this market. There are no economic fundamentals supporting an argument for year-after-year price increases in a nation where the economy’s limping, condos erupt from every vacant lot, incomes are stagnant and debt has bloated. We’re created a housing gasbag that can continue to deflate as it is now, or puff up, explode and spray all over us.

Seems to me the responsible thing is to warn the kids.

But what do I know? Brad’s lambasting me.

By the way, you can vote here.


#1 waiting on 03.14.13 at 8:32 pm

You’ve got my vote, and I don’t even live in TO

#2 Johnny B. Goode on 03.14.13 at 8:33 pm


#3 DT76 on 03.14.13 at 8:35 pm

You got my vote!

#4 unbalanced on 03.14.13 at 8:36 pm

I couldn’t resist

#5 Nodebt on 03.14.13 at 8:36 pm

Sure glad I don’t own a condo in Vancouver
Or Toronto !! I’m just glad my house is paid

#6 Sebee on 03.14.13 at 8:36 pm

This blog just quoted itself in a blog. I fear a worm hole is about to rip through the fabric of space and time and suck things in.

Are we mobilizing another vote for Garth here? What will he win as the most trusted authority? $10 itunes card?

#7 Old Man on 03.14.13 at 8:37 pm

You are not going to believe the lastest as Caesar is putting the taxpayers on the hook for more than $700 million to write off in unpaid student loans. Well the only time I took out a student loan which I paid back in full was to give me some green on the side for like $350, so could take a trip to Florida with a young lady.

#8 Dan on 03.14.13 at 8:40 pm

Voted for you Garth but Rob Carrick is very informative love his articles. You get five freebies per month at the globe.

#9 Rob Smith on 03.14.13 at 8:42 pm

with a 131 votes lamb is going to get slaughtered after tonight.

#10 guelphstudent on 03.14.13 at 8:45 pm

I can’t believe Lamb is winning as of this moment. What the heck guys, go vote !

#11 ketch on 03.14.13 at 8:46 pm

brad brad brad , how do you sleep at night or for that matter dare to close your eyes. sad brad. thanks garth

#12 StocksRHot2013 on 03.14.13 at 8:48 pm

You know fathead lamb got every uneducated douchebag Agent at his seedy office to vote for him….. What a slimeball

#13 pathcontrolmonk on 03.14.13 at 8:49 pm

for the google-challenged:

#14 Medic on 03.14.13 at 8:50 pm

Garth, happy birthday.

#15 Halifax Observer on 03.14.13 at 8:51 pm

After deep reflection, I just had to vote for you Garth :)

Here is a friendly voice in the war against housing insanity. Murray Dobbin’s recent article gives hell to the banks for their reckless fixed mortgage rates.

Murray is not new to the housing problem. His 2009 article demonstrates that he is cut from the same prophetic cloth as Garth.

Do you two know eachother? Facebook friends by chance?

#16 observer on 03.14.13 at 8:52 pm

Brad Lam , Tom Vu, they are the same guy. Except tom lost his hair and lost his tan.

#17 Sebee on 03.14.13 at 8:52 pm

10 minutes and Lamb is falling back. Brace yourselves condo virgins with dreams of 282% returns, your finacial advisor is about to ask for your vote.

#18 espressobob on 03.14.13 at 8:53 pm

Voted….again. Brad Who?

#19 porkchop on 03.14.13 at 8:53 pm

ok garth. i boted for u and now your in the leed. you know your going to win this poll hands down.

#20 observer on 03.14.13 at 8:53 pm

Looks Like Garth is now in the lead, and I believe the Vegas spread will be wide and growing by days end!

#21 Vancouver Hipster on 03.14.13 at 8:54 pm

Canadian GDP:
27% RE
7% commodities

The whole country is based on a Ponzi scheme

Vancouver Hipster
I have no job but got approved for a $ 500K mortgage

#22 This Is My Story on 03.14.13 at 8:54 pm

You got my vote.

#23 scanner on 03.14.13 at 8:59 pm

Oh Garth, you know I had to vote for Mr. Mutton, otherwise it wouldn’t be as funny. But I did vote for you for Pope.

#24 Kootenay Ma on 03.14.13 at 9:02 pm

Garth leading by a chiselled jawline !

#25 Smoking Man on 03.14.13 at 9:02 pm

Why wasn’t I on that list, this is BS. I voted for no one….

I have been more right what anyone on any topic.

O well at leased I can walk threw the front doors of a rub and tug with out anyone knowing who I am….:)

#26 Tom Vu on 03.14.13 at 9:04 pm

Which one is Brad Lamb?…the one in the middle of the police line -up ?

#27 Robbie on 03.14.13 at 9:05 pm

You got my vote, too!

#28 Smoking Man on 03.14.13 at 9:06 pm

I’m a front door man……

Shit faced kids , nother premium lieing session at a bay street bar.

You wont beilive who I meet and shared a smoke with ….She goes I love your life force.

I really can’t say, but she is a smoking man fan, and she is a huge someone, not fat…..

Gartho this pathetic blog has reach….wow….

Better tone things down….shit

#29 Adam on 03.14.13 at 9:09 pm

#8 Dan

You get unlimited free a month from the globe if you know how to clear your browser cookies.

#30 Toronto CA on 03.14.13 at 9:11 pm

Garth will win by 5 digits worth of votes. This blog is too powerful for a mere mortal like Brad Lamb to come back unless the voting is rigged. Also I voted for you, Garth (I would also vote the same way if you ever went back into politics!)

#31 Freedom First on 03.14.13 at 9:12 pm

Just voted. Garth now ahead with 32% of the votes.

Garth, I am not surprised you are being voted against. What you offer can be difficult for people to accept.

Discipline and control of their financial affairs like a grown-up, versus the “I want what I want when I want it and I want it now” childish mindset, plus: peer pressure, ego, MIL’s, liars in the RE industry and for the RE industry by everyone lying out of their own self interest, massive ignorance and arrogance.

And Garth, what does your way offer: balance, diversification, and liquidity, which only leads to financial stability and financial freedom and financial independence. Now, who would want that:) ……as it requires intelligence and discipline:)

Garth, thank you for all the good you do.

#32 blok existentialist on 03.14.13 at 9:13 pm

If Smoking Man is bipolar then he gets to vote twice, doesn’t he?

#33 habbit on 03.14.13 at 9:13 pm

no contest so far sir Garth

#34 Victoria Real Estate Update on 03.14.13 at 9:13 pm

Hello to all of you Victoria readers. That Victoria girl here again to share with you more information about the Victoria housing market.

So far, since the peak of our housing bubble, SFH (houses) have lost -12% of their value, townhouses (-16%) and condos (-15%). There will be much more in terms of price declines over the next 1.5 to 2 years.

Victoria is in a huge housing price bubble right now. In fact, all of Canada is. How does Canada’s bubble compare to that of the U.S. at its peak? The Economist released a report in January that rates Canada as extremely overvalued in terms of house prices. It says that house prices here are 78% overvalued against rents (the highest in the world) and prices are 34% overvalued against income (2nd highest in the world). The same report says that house prices in the U.S. are currently 7% undervalued against rents and 20% undervalued against incomes. The U.S. numbers give us some perspective here. When housing bubbles burst, they always correct back to the level where incomes and rents are once again able to support house prices. This will happen in Canada as well.

At the peak of the U.S. housing bubble, house prices were extremely overvalued, but not to the same extent as they are in Canada right now.

Victoria and Vancouver are, by far, the most overvalued cities in Canada. For this reason, Victoria will experience one of the most severe housing corrections of all Canadian cities.

In December of 2005, this San Diego house was valued at $502 K. By early 2010, its value had dropped all the way down to $245 K. Prices remained low in San Diego for years before starting to move higher. There certainly was no need to rush out and buy thinking prices would quickly spike higher again. As prices in Victoria decline, you can expect bankers, realtors, the real estate board, mortgage brokers and the local media to broadcast that it is a good time to buy because prices have hit bottom and will be rising soon. This is what happened all over the U.S. as their market dropped.

Victoria experienced a housing price run-up similar to that of San Diego. How low will prices in Victoria drop? It will be much lower than what any realtor will tell you, that you can bank on. If you are currently renting, you are in control of your money right now and you are actually making money compared to those who bought near the peak as house prices continue to decline. You will be in control when the time is right to buy and you will be rewarded for being responsible with your money.

#35 Something on 03.14.13 at 9:15 pm

Congrats Garth. You can easily pass 50% mark. Don’t forget to take a screen shot around midnight. Canadian real estate association will be editing numbers tomorrow morning. :)

#36 Burnt Norton on 03.14.13 at 9:16 pm

Lambasting, nice one.

Colleague surfing mls at work today: “Here’s a house for you, only $1.5 mil. Great location, and a suite to rent out”. Other colleague comes over to look at pics. Oohs, ahhs.

Me: “You know, Feb YOY stats for North Van show listings up by 44%, sales down by 42%, and median price down by 27%”.

Blank stares.

“But it has a suite, you could probably rent it out for $1200 / month”


#37 TurnerNation on 03.14.13 at 9:16 pm

Sigh another vote. What can’t Garth go back to politics – where we have to vote only every 4 years? :)

#38 Cici on 03.14.13 at 9:16 pm

Happy Birthday! Garth (but I didn’t have time to bake you a cake).

So I voted for you instead. As of two minutes ago, you are in the lead with 34%. Lamby only has 20%.

Go Blog Dawgs Go! Vote so hard that it counts ;-)

#39 mark on 03.14.13 at 9:16 pm

lol that turnered around quickly!

#40 wallflower on 03.14.13 at 9:20 pm

schizophrenia, blokko

#41 *NAKED APE* on 03.14.13 at 9:20 pm

“…… gasbag…….. puff up, explode and spray all over…..”

At some point in time, I would really like to see that happen to a few of our esteemed Canadian Senators as well as they feed at the taxpayer trough.

Unfortunately, by the time I do see it, it will probably be too late……. And the stench is sure to be BAD!

#42 Smoking Man on 03.14.13 at 9:22 pm

#32 blok existentialist on 03.14.13 at 9:13 pm

I voted for myself, wasent easy as I was not on the list…

Which is a good thing, better to be rich and unknown, that rich and famous….

If I was a celeb………photogs with get rich I have no self control after the 3rd JD, the problem, chic I was flirting with tonight does have a following, there where a few flashes…..

shes calling , shit . don’t beilive it……..night night dogs, how do I get out of this one.. Think man Think…….

#43 Grimbot on 03.14.13 at 9:24 pm

Cast my vote for you Garth….you’re up to 42% and (hopefully) rising fast!!

#44 In Garth not God we Trust on 03.14.13 at 9:25 pm

Are these pollsters for real? The bearded mystic sage, all knowing, all wise, real estate and financial prognosticator without equal, former parliamentarian and minister of National Revenues, denouncer of parliamentarian peckerheads and peckerettes, sage adviser to central bankers, Harley riding badass, contrarian in the extreme, Amazon bathed and protected, lone voice of reason in the financial wasteland of Canada is leading with 41% of the votes.

#45 not 1st on 03.14.13 at 9:25 pm

Garth, your dogs have turned the tide in the poll for you.

#46 Smoking Man on 03.14.13 at 9:28 pm

#45 not 1st eat 9:25 pm
Garth, your dogs have turned the tide in the poll for you.

I voted for the 1% David……who the f is he……..

#47 ChickenLittle on 03.14.13 at 9:33 pm

I voted…You’re at 43% so far…HAHA!! I’ll go back and vote for that other guy you like, Madani, just because he seems to be a smart fella too.

“Not a lot going on over at @GarthTurner aside from the occasional sassy remark directed at @BenRabidoux”

Are you being sassy again?!? I almost died laughing at that!

BTW: I would NEVER vote for Colonel Saunders…

Happy Birthday! :)

#48 Cici on 03.14.13 at 9:33 pm

Ahhh, how cute. Smoking Man finally got a date with Sherry Cooper!
He’d been trying for such a long time; eventually the inevitable had to happen.
This proves that anything is possible; in fact, maybe the RE bubble will finally burst!

#49 City that smells like it sounds on 03.14.13 at 9:37 pm

Nothing can stop Saskatchewan! Chooo Choo!

#50 Julia on 03.14.13 at 9:37 pm

I say we vote for Garth 64 times each, like candles on a birthday cake.

#51 Cici on 03.14.13 at 9:38 pm

#42 Smoking Man

Be careful ol’ boy…you just got yourself out of deep murky waters. You of all people should be able to recognize a con woman when you see one.

Now before you go and get yourself way too drunk (as usual), do you think this woman is attracted to YOU or to how RICH you are always CLAIMING to be?

Personally, I hope for your sake that don’t have much in your wallet tonight. And DON’T let her buy you a drink (unless you think mistakenly think getting mugged is a happy ending).

Turns out I know creeps better than you do!

#52 blok existentialist on 03.14.13 at 9:42 pm

#40 Wallflower
Evidently we’re both wrong, considering he just voted for himself. Narcissist?

#53 Lily joe on 03.14.13 at 9:43 pm

Garth, is it your birthday? Happy birthday!

#54 Tom Vu on 03.14.13 at 9:45 pm

#16 observer on 03.14.13 at 8:52 pm

Brad Lam , Tom Vu, they are the same guy. Except tom lost his hair and lost his tan.


Ah very wise guy…grasshopper

Can you snatch the pre-sale condo assignment from my hand?

#55 McDerp on 03.14.13 at 9:45 pm

Brad Lamb = Billy Corgan

#56 Seven Stars and Orion on 03.14.13 at 9:45 pm

I think Garth Turner would be crowned Miss America if it was an online vote!

#57 HAWK on 03.14.13 at 9:46 pm

Given my support……….you have half the total vote as of now.

The Lamb guy must be a marketing evil genius though, if he’s sold billions worth of sky boxes.

#58 chico on 03.14.13 at 9:46 pm

OK, this is fun!!!

It’s 6:45 pm on Thursday on the west coast. I just voted and Garth is kicking butt at 48% of the vote. Go Garth Go!


#59 Smoking Man on 03.14.13 at 9:48 pm

A ha david who is beating Rob LMAO and un known kicking MSM dude, love it.

Rob do you need some help. Loser . Your piece of shit paper did not make me a cataylist, hence the smoking man boycott. Thats why I came here. Gartho has harpo skid marks in his underwere. You have it on your chin….

#60 Lily joe on 03.14.13 at 9:49 pm

Garth you never confirmed, is today your birthday?

#61 Ronaldo on 03.14.13 at 9:53 pm

#6 Sebee –

”What will he win as the most trusted authority? $10 itunes card?”

A years supply of “Lamb Chops”.

Here’s wishing Mr. Lamb gets totally ”Lamb-basted”.

#62 Smoking Man on 03.14.13 at 9:53 pm

#52 Cici on 03.14.13 at 9:38 pm


#63 DJB on 03.14.13 at 9:55 pm

I can here the sighs and gasps of disappointment already as they announce Garth’s name at the Gala Awards!!

#64 Weedeater on 03.14.13 at 9:58 pm

I vote for the guy who spends the most ad dollars promising me I can make a bazillion profit buying from him.

Hah! jk

#65 Ronaldo on 03.14.13 at 10:00 pm

A message from Lamb to Garth.

#66 Robbie on 03.14.13 at 10:02 pm

“Nathan Tinkler became Australia’s youngest billionaire in record time thanks to a series of aggressive bets on the country’s coal mining sector.

But the man who started his career as a pit electrician acknowledged on Thursday he may have attempted one risky deal too many, leaving him with an undiversified portfolio that was heavily exposed to plummeting coal prices.”

He’s going bankrupt because he wasn’t diversified and coal prices have dropped sharply. Another high flier who didn’t read Garth’s blog!

#67 Brader Lamber on 03.14.13 at 10:02 pm

Condo fees at $185……..! This is pure lie. the lowest condo fees are in the 300 range (lowest i have seen for a 1 bdrm is $350). most often at $450. so he is underestaimating fees.

#68 JSS on 03.14.13 at 10:03 pm

I’m voting for Brad Lamb because he so tall.

#69 West Vanner on 03.14.13 at 10:04 pm

You are such an asshole I can’t help but like you, even though my wife thinks you are rude. You know why.

#70 Smoking Man on 03.14.13 at 10:04 pm

Happy Birthday Gartho you shit, shave the beard it makes you look old.

You got a scare under that thing, or you just having a midlife thing, harley and all…..

all the same having too drinks, one for you, i’m drinking yours as I know you would never have one with me…:}

Bearded diati

#71 renters rule on 03.14.13 at 10:05 pm

how much more evidence do we need that Brad Lamb is a M-O-R-O-N?

Clearly he wants to drive traffic to his site — but what the mo-ron don’t get is that while we will all go over to his site to vote for Sir Garth, we will not read any of the other propaganda on his site. What a frickin neejit, they really do lose all touch with reality don’t they??

Lamb doesn’t have enough friends on facebook to match up to Garth’s blog dawgs….what’s the guess where Garth ends up… 80%…? ;-)

#72 Herb on 03.14.13 at 10:07 pm

All right you dogs, get out there and vote! It is Garth’s birthday (check Wiki if you want confirmation). Let’s give him something to celebrate, like Lamb on toast.

#73 renters rule on 03.14.13 at 10:07 pm

maybe a more realistic guess would be related to WHEN Lamb takes the poll down because of its spectacular backfire…?

Hmmmm…. maybe around another 100 or so votes….? ;-)

No way his ego can take this butt kicking.

#74 dogman01 on 03.14.13 at 10:11 pm

Smoking Man –u Rock!

I love your comment on buzz Buzz …ha!

#75 rosie "moving forward" on 03.14.13 at 10:13 pm

Once more on to the breech…, No, that’s not it. To be or not to be???, No, not that one. Oh yea, Beware the ides of March, moving forward.

#76 johnny d on 03.14.13 at 10:17 pm

Made me laugh when I voted for Garth and saw the results. Looks like Garth pulled an early April fools joke.

#77 Chopper on 03.14.13 at 10:21 pm

Just voted for you Garth, I see you are way ahead of the pack at 601 votes for 55%.

I can see what lies ahead and I am sorry for the greater fools that rush in without doing due dilegence.

RE is in for a correction that is plain obvious but some people have tunnel vision and they listen to realturds for advice.

I remember asking my realturd about what she thinks about me going to Florida to buy realestate as an investment. This was in January of 2012 just over a year ago. She was advising me not to do it, she said lots of people are doing it and it was hard to get the house rented.

Well just over a year ago and the house has approximately $50K equity and ROI from the rental of 12%.
I didn’t listen to her and my only regret is I didn’t have more money to buy two houses instead on one. No one should ask a realturd for advise on if they should buy or sell RE.

Do your homework read and ask experts with no vested interest in RE.

The worst is yet to come, it has only just begun.

#78 West Vanner on 03.14.13 at 10:24 pm

That’s weird, wonder what happened there, Garth?

#79 Dr. Hoof - Hearted on 03.14.13 at 10:24 pm

I just voted at 7:22 PST

Garth is kicking a$$……. at 58%

…… least the guy not follically challenged

#80 go Garth go!! on 03.14.13 at 10:26 pm

you got my vote, and are standing at 58% and crushing everyone else. Cool.

btw can you swap out today’s picture for yesterday’s?

that would be even cooler.

(okay okay I can click on the archives. but hey, the dog and the girl were both so awesome:)

#81 West Vanner on 03.14.13 at 10:26 pm

Then again, if you are busy undressing your wife I totally understand…..

#82 renters rule on 03.14.13 at 10:26 pm

moving forward… jeesuz what a waste of time, mean nothing phrase… you need to find something worthwhile to advocate for…nada in the “us of a” is moving forward with that POSER. get a grip rosie.

#83 Ronaldo on 03.14.13 at 10:32 pm

#42 Smoking Man
#51 Cici –

”Personally, I hope for your sake that don’t have much in your wallet tonight. And DON’T let her buy you a drink (unless you think mistakenly think getting mugged is a happy ending).”

And, Smoking Man, be careful what cab you hop into. It could be the ”Millionaire Tour”.

#84 Spiltbongwater on 03.14.13 at 10:36 pm

Seems like a sexist rigged lineup to vote for. Why are there no women on the ballot? Is there someone at McLeans trying to suppress women real estate experts? Why not Sherry Cooper or Tubetop Sandra to vote for?

#85 JessicaJ on 03.14.13 at 10:36 pm

60% Brad, 11% Lamb Chop! Way to go Garth!

#86 TurnerNation on 03.14.13 at 10:37 pm

#23 scanner

Garth as a pope? Pfft. That’s just his altar ego.

#87 JessicaJ on 03.14.13 at 10:38 pm

Oops… 60% Garth, 11% Lamb Chop! Way to go Garth and Happy Birthday too!

#88 The Prophet Elijah on 03.14.13 at 10:45 pm

#42 Smoking Man on 03.14.13 at 9:22 pm

#32 blok existentialist on 03.14.13 at 9:13 pm

I voted for myself, wasent easy as I was not on the list…

Which is a good thing, better to be rich and unknown, that rich and famous….

If I was a celeb………photogs with get rich I have no self control after the 3rd JD, the problem, chic I was flirting with tonight does have a following, there where a few flashes…..

shes calling , shit . don’t beilive it……..night night dogs, how do I get out of this one.. Think man Think…….
Smoking Man you’re an inspiration to us all, this blog is nothing without you. Your words of wisdom shine as bright as your life force.
Did you have any marriage advice for the blog dogs?

#89 Stinky the Fish on 03.14.13 at 10:49 pm

Voted for Ben, but you’re my #2 hubby. You dont even need my vote. You’re destroying every1

#90 nuke on 03.14.13 at 10:53 pm

Happy Birthday, Garth! Make it a great one.

#91 CarPicker on 03.14.13 at 10:55 pm

+1 for Mr.Turner and happy birthday. And smoking men growing old is a must, growing up is an option.

#92 White Rock Mom on 03.14.13 at 11:00 pm

62% for you Garth!

#93 Uh Oh Canada on 03.14.13 at 11:06 pm

Garth- you lost credibility when you predicted an interest rate hike two years ago that didn’t happen. Still, the fundamentals you preach are true, but your timing is way off. I still voted for you anyways because no one expects you to be a fortune teller, but rather a humanitarian. You have helped me in your own way and I thank you very much for that.

#94 Canned Goods and Buckshot on 03.14.13 at 11:09 pm

Turner entreaties to vote for him in order to boost him past Lamb reminded me of the Chris Hedges book “Empire of Illusion: The End of Literacy and the Triumph of Spectacle”. Hedges attacks our worship of celebrity (in this case voting for Lamb and abdicating any critical thought process) and laments that this banishes the real from our public discourse.

I’m glad Turner provides a forum for rational discourse on Canadian housing, but at the same time I wish he wouldn’t sink to Lamb’s level. hedges quotes ”
We yearn to stand before the camera, to be noticed and admired. We build pages on social networking sites devoted to presenting our image to the world. We seek to control how others think of us. We define our worth solely by our visibility.

#95 Richard and Zeus on 03.14.13 at 11:11 pm

Zeus voted for Garth. Happy birthday !!!

#96 DON on 03.14.13 at 11:13 pm

I voted.

and the van sun article re: Vancouver real estate sales down 25% and prices to follow…They mentioned it not me.

#97 pathcontrolmonk on 03.14.13 at 11:16 pm

At 63%, Garth leads as the most fLAMBoyant

#98 brainsail on 03.14.13 at 11:21 pm

“This is like asking the chickens if they want to vote for Colonel Saunders.”

I can’t stop laughing!

I hope you have a great birthday celebration!

#99 a prairie dawg on 03.14.13 at 11:22 pm

A fitting Birthday tune. Cheers.

#100 TEMPLE on 03.14.13 at 11:25 pm

Garth, I voted for you. It was tough, though- some of those other guys are like lawyers without the letters.


#101 T.O. Bubble Boy on 03.14.13 at 11:25 pm

Mr. Lamb’s staff must be too busy getting bottle service at the club tonight to vote in the online poll… Garth pulling way ahead with 64% and counting.

Happy Birthday!

#102 Oh-No! on 03.14.13 at 11:26 pm

Real estate really steps from Lamborghini to lambburger

#103 McLovin on 03.14.13 at 11:27 pm

Where’s DA’s bullshit spin when you need it?

The South Okanagan Real Estate Board, for instance, saw a 33 per cent decline in sales to 66 units in February compared with 98 in the same month a year ago. The average South Okanagan price was down almost 20 per cent at $244,666, compared with $304,421 in February 2012. This region takes in Penticton and Osoyoos.

Read more:

#104 Evil Magpie on 03.14.13 at 11:29 pm

I hope my vote doesn’t end up being seasonally adjusted.

And have a wonderful birthday!

#105 Frizzzz on 03.14.13 at 11:34 pm

Happy Birthday Funseeker!!

#106 Astronaut down on 03.14.13 at 11:36 pm

Brad Lamb looks like the guy from Hellraiser minus the nails. And like Lotney “Sloth” Fratelli from The Goonies.

It’s a damn good thing he doesn’t know how much I hate his guts.
It’s a damn good thing you don’t know how much he hates your guts.

Over & Out

#107 :):( Ying Yang on 03.14.13 at 11:38 pm

Did my patriotic duty and exercised my civil rights ! One vote for the Birthday Boy! Well deserved old bean!

#108 Tom Vu on 03.14.13 at 11:40 pm

Garth is @ 65% @ 8:40 PST

= Many relatives who not watch Big Brother and Midget Mud Wrestling !

(Maybe should pay cable bill )

#109 Nodebt on 03.14.13 at 11:41 pm

Smoking man is a clown!!!! I take it you met beach girl at your weekly rub and tug joint!

#110 Small Town Steve on 03.14.13 at 11:42 pm

Haha I could not resist.
One more vote for Garth!

#111 City that smells like it sounds on 03.14.13 at 11:42 pm

Only $4500 a month to rent this house on the busiest street in Regina! Has anyone lost their mind yet?

#112 will on 03.14.13 at 11:46 pm

You get my vote Garth.

Now a little entertainment. Has anyone seen this RE pic from Saskatoon?

To me this has nothing to do with bad Saskatoon weather but is all about shoddy construction. I think this building probably belches heat (no insulation) from the roof which causes run-off that freezes on contact with the walls. The interviewee would like you to think this is caused by bad weather. No way.

#113 :):( Ying Yang on 03.14.13 at 11:50 pm

#32 blok existentialist on 03.14.13 at 9:13 pm
If Smoking Man is bipolar then he gets to vote twice, doesn’t he?

Oh so that’s what bipolar is, I just thought he was insane! Well not totally insane, perhaps a little insane, maybe with a hint of dyslexic tendencies, no, no he is bipolar, your correct! Oh what the hell I could vote for him, he’s as sane as the A-holes that we have elected previously and he drinks JD. Double, double straight up please tar bender. ☺

#114 Dan on 03.14.13 at 11:54 pm

#29 Thanks Adam

#115 Van grrl on 03.15.13 at 12:02 am

This is regarding yesterday’s thread…
Guelph Student:
‘If one bedroom costs 1400$, add utilities and internet to that, than a car (required for job) which costs 250$ to insure plus renting parking as most condos many condos come without one…’

Where exactly do you plan to pay as much as $1400 for a one bedroom? I live in Vancouver and pay just under $900, friends pay $900-1200 for two bedrooms. I would assume utilities is included if you’re paying $1400! And $250 for car insurance?? I had a used car until last summer and my rate was $80/mth. In a province with provincial rates.
Zak- I had roommates until my early 30s, the only year I lived alone before that was overseas as the cost of living was so low. Your generation is not the first to sort of rough it, trust me. I’m a gen x-er and that was pretty standard; some of the best years of my life were living with people who have remained good friends/family to this day.

#116 Screwed on 03.15.13 at 12:03 am

What a load of crap.
Their stench of desperation wafels all the way from East to West.
How many towers do they have under construction now? 80,100,120 or 150? Whatever it is, the gig is up. Nobody needs all these condos. Did they take a page from the playbook of the Chinese building all these ghost cities? Is there a five year plan for the City of Toronto to show growth in construction with all these empty towers?


#117 Tom Vu on 03.15.13 at 12:06 am

Duly note the bar graph on the vote:

Garth is almost underwater with ” yellow ” tide

Is this symbolic?….or SOS….send Cam (” the HAM” ) Good yellow helicopter?…BEATLES Yellow submarine? ……or send Coast Guard ?

#118 DL on 03.15.13 at 12:07 am

Ha ha ha Temple, what are the letters behind your name? A.S.S. ? Your IP address has been archived.

#119 Nick on 03.15.13 at 12:17 am

Today, I signed a lease for a 2 bedroom condo located in the heart of Montreal, on a quiet street, near mont Royal. 1200$ per month, thank you very much. It is impossible to buy a similar condo in the same neighborhood for less than 400 000$. Why people feel the urge to buy at such inflated prices is beyond me. Don’t let the roof over your head or the person/institution you’re writing a check to each month define your sense of self-worth.

#120 Van grrl on 03.15.13 at 12:22 am

68%- it’s a wrap.
Happy belated birthday Garth!

#121 Nostradamus Le Mad Vlad on 03.15.13 at 12:22 am

“This is like asking the chickens if they want to vote for Colonel Saunders.” — In my youth many moons ago, it used to be Colonel Sanders. Guess times have changed!

BTW, voted for you. Where do I request a 3-piece original, fries and gravy instead of ‘slaw?!
#7 Old Man — “You are not going to believe the lastest as Caesar is putting the taxpayers on the hook for more than $700 million to write off in unpaid student loans.” — Actually, it is quite easy to understand. The CPC is doing to Canada what Soros / Obomba are doing to the US — bankrupting the country, killing the middle class while telling people everything is A-OK. It isn’t.

#42 Smoking Man — “Which is a good thing, better to be rich and unknown, that rich and famous….” — Wholeheartedly agree! Much rather be The Multi-millionaire Next Door than brag about it.

#140 Dr. Hoof – Hearted on 03.14.13 at 7:44 pm — “Problems of biblical proportions, and not via random SHTF events but orchestrated SHTF events… Forget the US Constitution . . .” — Agreed, it’s all been put together in a very nice package for our consumption, yet the majority of sheeple are so blind and disinterested they couldn’t care less.

Could be tied to China’s and US’ debts / deficits. If China sinks, the US (and rest of the west) goes down with it. Or, Wot about this?
Russia If China switched to a new gold-backed currency and Russia joined them, who cares? The UK’s Marie Antoinette moment; 1936 Eerily similar to present (charts); Flipflopping Karma US – Russia / Russia – US; Ditch Austerity Splendid idea; 2:30 clip Gold and silver registration, then confiscation? Entrepreneurs France new tax system is driviing them out, and is coming to the US shortly; Argentina on sale as per the rest of the west; Singapore Condo infinity; Whale overboard! SKorean Dream Not immune; SOCGEN shockwave; Deutsche Bank and Jesus Strange combo; China’s ghost cities == we’ve got it all wrong; Living longer and running outta loot before one’s expiration date; Depression in southern Europe; Detroit and Wall St. Guess who won.
Jess — You have read about Jersey, but this is Guernsey, it’s next-door neighbor with a touch of snow; Upside down Rare brain condition; Lightning strikes twice? Did for him; Parking Ticket except the car was made of snow and ice, but GW and Huff Post “We’re sensationalizing the news!”; Mixed Up Chicken with pork DNA, horse meat additional; Skinny dipping in Siberia. Only men would do this; Bizarre Hulk Hogan burgers and other things; Eviction Day Elephants used instead of ‘dozers; Obamunism and Beyond; Smart Meters Unappreciated in Texas; Chavez “Possibly he was targeted through ‘contaminated food, drink, and even toothpaste’.”; Eleven items that can last years’ Fankenapples From a Cdn. company, no less; Addicts Desperate for a fix, like RE junkies; Piers Morgan keeps strange bedfellows; 6:06 clip Rather vociferous clip between Feinstein and Ted Cruz on gun control.

#122 Lamb chopped — Greater Fool – Authored by Garth Turner – The Troubled Future of Real Estate | The Affluent Boomer™ on 03.15.13 at 12:26 am

[…] via Lamb chopped — Greater Fool – Authored by Garth Turner – The Troubled Future of Real Estate. […]

#123 Sherri on 03.15.13 at 12:28 am

68%!!! Got my vote! Happy Birthday!!!

#124 Tony on 03.15.13 at 12:28 am

I don’t see Harry Stinson, oh he already knew what was going to happen long ago as he unloaded that schoolhouse to a bunch of unsuspecting suckers. I guess we’ll watch prices in Hamilton collapse further with all the other major cities in Canada.

#125 T.C. on 03.15.13 at 12:32 am

Okay – I voted for you.

At least it isn’t like you’ll get anywhere near parliament again.

I think…

#126 Samson on 03.15.13 at 12:44 am

Please ban Smoking Man. He is making a mockery of this blog

#127 Victoria Tea Party on 03.15.13 at 12:45 am


Brad gets sort of “knackered” in this survey, and St. Garth of Earthly Rectitude wins the prize, so far!

How exciting!

Mr. Brad and his unbelievable ads are aimed squarely at desperate wannabe real estate players who’ve got little going for them other than Jack and the Beanstock condo dreams all the way into the deep blue sky.

To take advantage of such folks, whose incomes and financial ignorance will keep them poor for lifetimes and lifetimes, should be made illegal.

Heartless, indeed; does Mr. Brad have a conscience or what? How’s the lease payments doing on your Bentley, pal?

Unless Mr. Brad has some insight into next week’s federal budget (is there “hope” for “real estaters” like him?), Canada’s real estate market will keep on heading south for a period of time and at a rate as yet to be officially determined. Mr. Brad, therefore, may yet get to dine on some black crow. You’ll need lots of pepper!

Here in Victoria our real estate market seems dead in the water; nothing new here as the local peasantry gets ready to vote back the NDP hordes, damn them anyway.

But in still delusional yuppie-infested Fairfield there is one particular housing project that I find interesting.

It is situated on a lot that used to accommodate a large single family residence. Now it is birthing TWO detached units each of which sits on a “footprint” of about 600 square feet. It was a hoot to watch four carpenters standing on the main floor of one unit last week, where they seemed to occupy practically all of the space!

When finished there will be 1,800 square feet, from basement to the top floor and about three miserably small rooms on each floor. These units look like dolls houses, something that could be found in a Beatrix Potter child’s fairy story.

But this is Victoria where real estate magic reigns, and sonambulance lives deep in Juan de Fuca Strait, on a good day!

#128 rory on 03.15.13 at 12:48 am

Gawd … now I am even a Turner sheeple. Sure glad I have my own opinions and ideas and not swayed by the herd.

GT has got to be laughing ….this is so easy he should make it a case study at Politics or Us University.

#129 Freebird on 03.15.13 at 12:57 am

My vote is in Garth. Looks like you may have a slight edge.

As another request more eye candy pics for your straight female readers (there was a recent one for Matt Damon) I’d like to give my vote for Daniel Craig, Hugh Jackman or close facsimiles of?

#130 Freebird on 03.15.13 at 1:00 am

Oh and congrats on making it to another year. A new (leased of course) Hummer or Harley for the birthday boy?

#131 TCH on 03.15.13 at 1:03 am

Lamb the Ram. Exile to Europe. The French love lamb roast.

#132 Humpty Dumpty on 03.15.13 at 1:20 am

One of these ogres is not like the others,
One of them just doesn’t belong,
Can you tell which thing is not like the others
By the time I finish my song?

Did you guess which one was not like the others?
Did you guess which one just doesn’t belong?
If you guessed the Great One is not like the others,
Then vote for him and cheer him on….
Thought the balloons would be appropiate…

#133 meslippery on 03.15.13 at 1:20 am

Voted for you Garth, love your blog.

PS you are lucky Beach Girl was not on the list.
Sex sells.

#134 pathcontrolmonk on 03.15.13 at 1:26 am

Ouch, only Ben and Garth in double digits, someone call a lambulance!

#135 Lil Saskatoon Disturber on 03.15.13 at 1:27 am

Up to 69% after my vote!

#136 montrealer on 03.15.13 at 2:21 am

Ben Rabidoux has the most un depth analysis but since he’s got a new job he writes once a quarter. Garth has to win over the condo king and as I write this it’s bound to happend…

#137 Buy? Curious? on 03.15.13 at 2:26 am

Broads don’t have an opinion on housing? Is economics just a male profession?

#138 Michael F on 03.15.13 at 2:36 am

The man in the middle looks a bit dodgy.

#139 Bubu on 03.15.13 at 2:41 am

Has anyone noticed that there isn’t a single response to any posting from Garth tonight?
Sooo… I’m guessing that he is celebrating his big day.
Have a fun one, Garth!

#140 Piccaso on 03.15.13 at 2:49 am

Real Estate isn’t the only over priced thing in this frozen snow drift of a country. Everything you touch, feel, see, eat, drink and drive is stupid priced. But we just except being raped because we don’t know any different. Crawl out of your $500K igloo and do a little travel. You’ll see how fuk _ed we are !!

#141 Notta Sheeple on 03.15.13 at 3:38 am

Thought about voting for the truth-bending, media-manipulating, wallet-vacuuming, narcissistic sociopath of a bully, then suddenly realized we already voted in one of those in Ottawa.

So I voted for the underdog. (x3 devices)

#142 Devore on 03.15.13 at 3:44 am

#6 Sebee

Are we mobilizing another vote for Garth here? What will he win as the most trusted authority? $10 itunes card?

VIP access to Brad’s next condo project sales event.

#143 Ballingsford on 03.15.13 at 5:10 am

71 percent now! Happy birthday Garth! I was truly disappointed when you weren’t elected as Pope. Oh well, more time for you to spend on this flock!

#144 domino on 03.15.13 at 5:36 am

Hey Garth, so I guess we are about to witness the real estate version of the DotCom boom. Hopefully the market will have recovered 13 years from now unlike the NasDaq which is still 40% below its peak of March 2000.

#145 Steve French on 03.15.13 at 6:09 am




#146 Smoking Man on 03.15.13 at 6:26 am

Gartho over 75 precent, not bad

#147 Sarabeth on 03.15.13 at 6:47 am

As of 6:44 AM you are now in the lead with 75% of the vote… ;-)

#148 maxx on 03.15.13 at 6:48 am

#31 Freedom First on 03.14.13 at 9:12 pm

” “I want what I want when I want it and I want it now” childish mindset, plus: peer pressure, ego, MIL’s, liars in the RE industry and for the RE industry by everyone lying out of their own self interest, massive ignorance and arrogance.”

This era of “I’m worth it” and the ego-stroking that goes along with it is one of the most powerful and valuable devices by which sales are made. People pay dearly to service their egos.

#149 Buy? Curious? on 03.15.13 at 7:01 am

Hey Garth, I didn’t vote for you. It was nothing personal. It was basically to skew the voting. Brad Lamb is a sales guy who can keep more plates in the air than anyone else. He’s not a bad guy either. Some people think he’s a jerk, a moron, a small bit actor in a film about college basketball, but he’s not. From what I’ve seen of him, youtube videos, he seems like a, a, hmmm, what’s the word I’m looking for?!

#150 Lead Paint on 03.15.13 at 7:24 am

This is starting to remind me of Fight Club. Start us out with a couple minor pranks (bombard a web survey, egg Sherry Cooper’s house) but then that will grow tired. When does Project Mayhem begin?

His name is Robert Paulson!

#151 thinker on 03.15.13 at 7:27 am

OMG, Garth – you cannot really believe that guy Ben whatever is any sort of authority on RE. The guy recycles graphs that most Hanson clients actually say disprove his points. He once had this piece sent out to Hanson clients that was called “low hanging fruit” all the stocks are 20% higher.

He actually has no clue about economics and rates, I remember someone asking him some simple questions, and pulled a report from RBC to find the answers..

#152 Raven on 03.15.13 at 7:29 am

Coming soon to a theatre near you:

“Silence of the Lambs”

Can’t wait to see the sequel. By 2015 it will be Brad who?

#153 Mike on 03.15.13 at 7:31 am

Kids today seem to think risk=reward.

#154 rosie "moving forward" on 03.15.13 at 7:45 am

#82 Renters rule

Would you like to choose a new word so that I can still move forward without offending?

#155 Beach Girl on 03.15.13 at 7:48 am

Why is everyone dissing Beach Girl? Of course Garth is the MAN. But, personally, I own a home because I like the security of it. It was bought and paid for in cash. Would be hard to sell, for sure. And I do not want to be evicted at the whim of some loser landlord. The 30 x 40 salt water swimming pool helps. Waiting for the Beach Boys. HAHA. And my lovely Jack Russell swims all day. I don’t care if if Real Estate tanks, cause I intend to die here. Going to India with my girlfriend. We both have European passports and she owns a home there. Will be treated like older princesses. Might even move there, but can’t interrupt my doggies life ever. I like security. It is a nice feeling. No stress on this older bird. HAHA. I will not sell this home, ever. 6 bedrooms, 5 bathrooms, 2 kitchens, the works. Bought in 2002 for nothing. Living large. I look 40 again, too happy.

#156 World Traveller on 03.15.13 at 8:01 am

The Spanish are getting desperate, Wait until all the Brits start leaving Spain, or decide not to buy property in Spain, The pain in Spain will be mainly felt in the brain!

#157 TurnerNation on 03.15.13 at 8:12 am

Oh, Kanada:

“The Globe and Mail reports in its Friday edition the bull market is sending indexes around the world to multiyear highs, but not in Canada, where the equity benchmark has become a serial laggard. The Globe’s David Berman writes that as the Dow and Europe soar, the Toronto market is feeling the effects of softening global demand for commodities. A resurgent U.S. banking sector is helping to light a fire under U.S. markets. The 30-member Dow rose for the 10th straight day on Thursday, marking its eighth record high in a row. Even in hapless Japan, the Nikkei 225 has surged to its highest level since 2008, buoyed by a new government that has promised strong stimulus measures. The S&P/TSX composite is languishing 15-per-cent below its record high, lower today than in 2011. The S&P/TSX and the S&P 500 began to diverge two years ago. Since then, Canadian stocks have fallen 9 per cent, while U.S. stocks have gained about 14 per cent. Canadian gold producers have been particularly hard hit, falling 45 per cent from their recent high in October, 2011. They have followed the path of gold, which hit a high of $1,900 an ounce that month but has since retreated about 16 per cent.
© 2013 Canjex Publishing Ltd.”

#158 Nick on 03.15.13 at 8:17 am

“This is like asking the chickens if they want to vote for Colonel Saunders.”

Cute! And morbid!

#159 Centre-ville on 03.15.13 at 8:21 am

#55 McDerp
“Brad Lamb = Billy Corgan”

True enough!

Garth, you got my vote.

#160 Tyler on 03.15.13 at 8:30 am

Wow…. upon closer inspection, not only are Brad Lamb’s profit claims unrealistic…. they’re outright lying…. In the upper section he claims $7,995 in annual cash flow, $4,450 of this coming from the retirement of mortgage principal. This generates his 13.9% return in section 1. He then goes in to capital appreciation in section 2 and comes to 192% return. However, in his last section, the section that brings you from 192% to 282%, his is counting the retirement of mortgage principal… again… another $51,000 worth after 10 years, the same principal he’s counting towards your annual cash flow. What a bastard.

#161 Brutus on 03.15.13 at 8:38 am

Greetings to all house horny in the Imperium Romanum

I bring you the Ides of March

CREA data scrolls to be released in the ante meridiem.

Hail Caesar! (for a little while, anyway)

Estne volumen in toga, an solum tibi libet me videre?

#162 Herb on 03.15.13 at 8:42 am

#147 SM,

and you got your ass handed to you on another blog. That’s not bad either.

#163 AACI Okanagan on 03.15.13 at 8:52 am

“And then there’s Globe and Mail columnist Rob Carrick, who is intelligent enough to use GreaterFool as a frequent source, but works for a paper that expects you to pay 99 cents a month to read him. Get real.”

when you are on their website, right click …. then click view page info, when the box pops up on the tab, click permissions , click block cookies, close the web site down, clear your cookies and voila.. read away

#164 NYCer on 03.15.13 at 8:52 am

So my friend who is trying to sell her condo (same girl) who bought for about $300k, put in $100k and wants to sell for $425k recently dropped her price to $384k and has went to facebook to ask friends to like her listing and to spread the word.

I feel bad for her, she will lose so much money or stay trapped in an old condo that has $700/month maintenance fees.

I warned her, now I will just back and listen.

#165 angela on 03.15.13 at 8:54 am

Lambasting. BLAHAHAHAHAHA What a great start to a Friday!

#166 espressobob on 03.15.13 at 9:02 am

Looks like ‘Brad Who’ has something to sprinkle on his cornflakes this morning.

#167 LSC on 03.15.13 at 9:07 am

Garth – I voted for you, Happy Birthday!

Unfortunately by the time the realturds apply their “Franken-number” (HPI) you will mysteriously be in fourth and trending down….lol!

#168 charles on 03.15.13 at 9:12 am

You missed out on the conclave sweepstakes but Justin is still waiting to get picked off.

#169 Jamaican_Gal on 03.15.13 at 9:20 am

Just voted for the Lamb guy…hehe, just kidding. You’ve got my vote Garth.

#170 Jaydee on 03.15.13 at 9:40 am

Got my vote! Happy bday Garth!

#171 On The Sidelines on 03.15.13 at 9:43 am

Feb home sales just out on CTV News …… Great news ….sales declined 2.1% Jan to Feb . The sky’s not falling after all . Oh ,, hang on here,,,,,that’s 2.1% more than January numbers . So ,,, 28% decline in Jan = 30.1% decline in Feb . Talk about screwing with the numbers

#172 rosie "moving backwards" on 03.15.13 at 10:07 am

Wakey, Wakey.

Moving backwards?

#173 John416 on 03.15.13 at 10:12 am

Garth Garth Garth Garth Garth Garth Garth Garth Garth Garth Garth Garth Garth Garth Garth Garth Garth Garth

The only result worth noting in this poll is.. will Brad Lamb be voted least trustworthy or second least trust worthy?

#174 Kris on 03.15.13 at 10:23 am

While the US & Europe saw RE correct the last few years, Australia & Canada seemed to be immune. Any word on how the Aussies are doing now?

#175 Q on 03.15.13 at 10:25 am

Former Prime Minister Kim Campbell is attempting to back out of her condo purchase at the Hotel Georgia because the developer did not complete the project before the deadline promised. From CBC:

“In her statement of civil claim filed in B.C. Supreme Court Campbell says she paid a $368,000 deposit on a condo in the new residential high-rise at the Hotel Georgia in 2007.

Her lawyer Bryan Baynham says the pre-sale agreement with Georgia Properties Partnership was that that the condo would be finished December 2011.

“The project wasn’t finished on time. They were more than a year late and not surprisingly the people don’t want to complete and they want their deposit back.”

Campbell and the 12 other pre-sale buyers are suing Georgia Properties Partnership, Georgia Trust, Hotel Georgia Management Ltd and a numbered company to get their deposits back with interest.”

#176 Luc on 03.15.13 at 10:26 am

Can anyone explain to me what Stats Can says in this article ?

Looks like we are net worth increased by 6.9 trillion !!!

#177 Grimbot on 03.15.13 at 10:46 am

Way to go Garth-man! Up to 75% in the most trusted poll. I wonder if Stephen Harper would score less than Brad Lamb.

#178 Dr. Hoof - Hearted on 03.15.13 at 10:59 am

From VREAA Blog

“He said that he is currently managing about 337 foreclosed/court ordered sale properties in Mission and Maple Ridge.”
Posted on 14 March 2013 | 18 Comments

“Bought a court ordered sale in Mission…
Property manager for the Banks came by, wondered why we were in the house…
Bank had not told him it sold… two weeks ago.
He removed the lock key holder.. we talked a bit…
He said that he is currently managing about 337 foreclosed/court ordered sale properties in Mission and Maple Ridge right now… that’s right… I asked three times just to make sure he didn’t mean 37… 337 is what he said.
… said he was not able to provide a list of the properties as the banks had forbidden him to disclose the list as part of his contract…, that’s in Maple Ridge and Mission… alone…
That was Three Hundred and Thirty Seven property’s in just the two districts…
WOW…Don’t see that in the news… or the real estate/assessment tax vultures sales lists…”

We had discussed this before re: this lack of disclosure. I think it should be mandatory, after all, it ultimately is Gov’t money and we are Gov’t.

If you were a buyer or a seller wouldn’t you want to know these numbers ?

Extrapolate those numbers to other BC Cities..WOW.

Yessir, a major crash.

#179 Scotian on 03.15.13 at 11:02 am

I voted for Garth.

But the best ironic story of Canadian real estate over past decade is Garth’s warnings during which time prices have exploded upward.

#180 Dupcheck on 03.15.13 at 11:13 am

I would take Garth’s recommendation of investment portfolio at 7% any day as realistic vs. bagadouche Lamb who has lied to so many with 282% returns!!! WTF even if you divide that by 10 years = 28%/year that is outrageous profits. Everyone would be rich.

Brad Lamb you are garbage, you will pay for your lies. Someone will sue your ass with the way its going….

#181 AprilNewwest on 03.15.13 at 11:22 am

#173- I heard on CBC this morning that Van sales are down “a whopping 33%”.

#182 Bmal Darb on 03.15.13 at 11:26 am

Hello, BuzzBuzzHome?
This is Brad Lamb. Can you put a 10x mulitplier on my votes please? I’ll also take the right hand banner ad space for the next quarter.


#183 Bmal Darb on 03.15.13 at 11:28 am

#61 Ronaldo

A years supply of “Lamb Chops”.

I quote The Simpsons “Lamb” when I say…”Gaaaaarth, don’t eeeeeat meeee.”

#184 Daisy Mae on 03.15.13 at 11:31 am

Absolutely priceless! You’ve managed to shake this guy up, but good! Hilarious! You do manage to get dragged it’s the most damnable ‘contests’. Means, simply, you’re stepping on alot of toes…

You’ve got my vote, of course, because you’re the ONLY one I trust.

#185 Tony on 03.15.13 at 11:36 am

Someone will have to start a Canadian version of this:

for the people who bought Brad Lamb condo units.

#186 Sebee on 03.15.13 at 11:42 am


Really? Cutting forecast? Dropping prices? How could this possibly be?

#187 Dr. Hoof - Hearted on 03.15.13 at 11:50 am

#122 Nostradamus Le Mad Vlad on 03.15.13 at 12:22 am

Media reports also frequently say China has 65 million vacant homes. Lu calls into question the veracity of this data. The number, he said, came from China’s State Grid data that said 65 million electricity meters in China were not operating, but it isn’t clear whether this is because of vacant homes or because many of these just don’t run.

In fact, he said it’s possible to see ghost villages since the country has 150 million migrant workers, but that 65 million vacant urban homes is a stretc

Read more:


IMHO, In the global scheme, China was set up to be a proxy to kill off the middle class elsewhere. China never has nor ever will shed the Communist label , that would not be in the NWO interests. Or, how come they saber rattle versus Iran, and not China ?

China will not fill these millions of empty condos., they are either Potemkin villages for illusion of prosperity or perhaps future prisons. China would have to bring about 100 +million people (ie singles, couple, children etc)out of poverty and into middle class to fill these units. Not gonna happen.

They in China need a cheap labour pool to maintain the status quo. Again the whole scheme is to cull the middle class elsewhere and internally.

In the end, nothing real was built, economy built of inflation and paper shuffling…..all we did was set up a future Weimar republic globally .

#188 Danno on 03.15.13 at 12:18 pm

Just added my vote. You’re kicking ass now!!!

#189 Westcdn on 03.15.13 at 12:30 pm

The Cdn stock market has been fun for the last few days. I have never seen so many bears on every subject – the exception being gold. I took a beating on Wednesday yet I could not see any good reason why. I think it was the result of a big boy selling his Cdn stocks combined with very light markets volumes. The combination resulted in larger than reasonable fall in prices. Dividend payers took the hardest hit so I guess the big fear is a Cdn economic slowdown. I expect prices to rebound. I read somewhere that real estate counts for about 17% of the Cdn economy (about 3 times our entire resource industries), so a slowdown in RE will hurt Canada more than one in resources.
My personal amazing story about Cdn real estate. I needed to take out a mortgage and elected to take a 35 year term. If I carry the mortgage to term, I will be well into my 90’s. Banks really do consider mortgages as “pay until death”.
Meanwhile the job market continues to hold in Alberta so I don’t expect any price decreases in housing prices except on older dated condos. Alberta RE won’t crash as long as there are no significant job losses and mortgage rates stay low. Provincial government is making noises about cost containment but it is not enough. Taxpayers will slowly get bled by other taxes and fees – enough of me bleating on too much government.
I was doing some budgeting. It looks like I will have to play my Mormon card – no more cheap cigars or vodka until I can’t stand it any longer. Government is going to lose tax revenue on that card. I also downloaded the free tax software from Studio Tax to see how much I would owe. It looks to be as good as the others. I couldn’t find any problems but you do know the basics of filing a return. I think it can handle everyone except corporate. The software (for MSoft only) can be downloaded from You can net file with the software and I will be making a donation to them when I net file. Donations seem to be their only source of income. I hope I not voilating any rules by naming the site and product as it is not “retail”.
Videos for amusement
Bad bay for the E baby
1930’s news reel of Victoria/Vancouver
Proof cats are evil

#190 Pr on 03.15.13 at 12:44 pm

Now the condo builders offers 4% commission for the brokers to sell their condo:
-L’Avenue – Commission de 4%, Gagner la location d’une Mercedes Benz pendant deux ans!‏

#191 Andrew on 03.15.13 at 12:45 pm

Here’s a new theme I never thought of:

Local realtors are reporting that there is a lot of demand out there still but a lot of deals are falling apart at financing. A couple of people I know who are also selling are experiencing the same thing, one person said that deals fell through 16 times before a buyer was finally able to close.

Maybe exaggerated I don’t know, but if the dum dums who insist on trying to buy properties they can’t afford won’t stop themselves maybe the new financing rules will.

#192 Westcdn on 03.15.13 at 12:50 pm

I forgot to mention in my previous post that I have been looking at EFT’s. I noticed some of them were were listed with a suffix of “.a”. (eg. Xxx.A) Turns out that means a trailer fee is deducted from the distribution, usually 0.5%. Cute – I don’t want them in my self-directed plans. My dumb error if I duplicated my previous post – sorry about that.

#193 TomJefferson on 03.15.13 at 12:56 pm

To access g+M simply use Google Chrome, click New Incognito window et voila! You can see everything. Don’t have to do anything with cookies, cache etc.

#194 The BioTech Guy on 03.15.13 at 12:59 pm

Garth, thanks for wise and very entertaining blog over the years. We did take your advise and did NOT spend big $$$ to move to a school zone.

Instead of apraising the house we appraised the kid. Turns out the kid is truly gifted so he will be bussed to the genius factory of choice.

Plan B was to hire a Limo for the prince. Still cheaper than some of the delusional pricing we have seen.

And of course you deserve a vote. Late but warm Happy Birthday to you too.

#195 prairie person on 03.15.13 at 1:13 pm

I voted. Garthis kicking butt, scoring home runs, making baskets, field goals.
It’s too bad that these so called real estate gurus (shills) can’t be held legally responsible for their comments, advice, fraud. If there was ever an example of government needing to step in and apply the same rules to RE as to the financial markets, it is the statements of the other members in this poll.

#196 bill on 03.15.13 at 1:33 pm

it appears you have a comfortable lead over the other contestants .
Congratulations Garth.

#197 World Traveller on 03.15.13 at 1:34 pm

Crooked Spanish banks finally get served.

#198 bill on 03.15.13 at 1:35 pm

Hey you had a birthday Garth…..
Happy Birthday Man!

#199 OttawaRenter on 03.15.13 at 1:35 pm

I just recently sold my home in Kanata, Ottawa suburbs.
I was able to sell my home in a single day because it was fairly priced (300k range), along with a few other homes in my neighbourhood that were as well. There are some others that have started high, and continue to drop prices by 5k every couple of weeks, and have been on the market for awhile.
The three homes in my neighbourhood that were sold, including mine, are being bought as investment properties and are being advertised to be rented out…

#200 zak on 03.15.13 at 1:36 pm

#116 Van grrl

I didn’t mean to imply that my generation has it rough, rather that our short perspective of the market is not exactly a selling feature for any investment vehicle. When I chat with people my age about real estate or investing many seem to be just sitting on the fence, awaiting the inevitable, or focusing on their careers instead.

#201 Ludmila on 03.15.13 at 1:36 pm

Working on your Birthday too? You’re something… :) Happy (belayed) Birthday! All the best to you and yours!

P.S.: and not, your blog is not a waste of time.

#202 The real Kip on 03.15.13 at 1:43 pm

As a added bonus, you can vote as often as you want. First I voted for Brad J. Lamb and then again voted for you Garth. Can I have a cabinet post if you win?

#203 Old Man on 03.15.13 at 1:49 pm

I went a voting for Garth with my VPN, but only voted once; so just call me Caesar.

#204 World Traveller on 03.15.13 at 1:53 pm

Hi Garth,

Looked at this PDF,

Brad leaves out property taxes, condo fees, what else is he leaving out and taking these into account, what is the total return on investment?

#205 Tony Right on 03.15.13 at 2:02 pm

Smart move by McLeans to sell more issues! The blog dogs will be all over that magazine praying their comments made it in, just like how they wait by their computer for Garth’s post each night so they can write “Fuuurrrrsssst!”.

#206 Old Man on 03.15.13 at 2:12 pm

#201 OttawaRenter – those who bought these homes as investment properties will be holding the bag with a loss of capital year after year, as will experience a meltdown in hard equity value. Ottawa will not escape, as they will take a hit, just like they did in 1982.

#207 Daisy Mae on 03.15.13 at 2:13 pm

#31 Freedom First: “What you offer can be difficult for people to accept.”


Is that what you believe? You can’t HANDLE the truth?

#208 maxx on 03.15.13 at 2:30 pm


No debt= enormous stress reducer;

Having savings= confers amazing health benefits, raises quality of life through increased opportunity and even prolongs it!

Go figure.

#209 Daisy Mae on 03.15.13 at 2:32 pm

#140 Bubu: “Sooo… I’m guessing that he is celebrating his big day. Have a fun one, Garth!”


The ‘big day’ was yesterday.

#210 rosie "moving backwards" on 03.15.13 at 2:36 pm

Any opinions on which route they take?

#211 observer on 03.15.13 at 2:49 pm

Latest news Real Estate prices Down 3.5% this month. Another 1.5 % and all the sucker who bought in the past 2 2.5 years will be underwater. + The additional expenses of CMHC and fees.

Wonder what the banks will do once they realize most of their clients are deadbeats. I guess “NO SOUP FOR YOU!!”

Or no more credit since they have Squat for equity.

Remember Rising Vancouver prices once raised the Canadian Average. For the past year the momentum of the vancouver home has flatline. It now looks like the momentum is going the other way. As waves and waves of bad news is starting to hit. It will only be a matter of time before people realize we are different, but yet we are also the same!!

HAM is all but a myth. 1 to 4 % Are HAM and .2 % are people who bought from outside of metro vancouver. So Canada is Buying Canada, just like USA is QE ing like crazy, buying up its own money its printing

#212 bcPaul on 03.15.13 at 2:52 pm

It’s official, BC real estate prices are declining.

#213 waiting on 03.15.13 at 2:54 pm

#204 – I don’t understand, why would you vote for both Lamb and Garth? You might as well have not voted at all.

#214 waiting on 03.15.13 at 2:55 pm

Ad posing as faux article?
On page A23 of today’s Province newspaper in Vancouver there is what looks like a news article with the headline:

“Real-estate sales finally recovering” and a sub title in red saying: “People Buying: …”
The article starts off saying: “Federal Finance Minister Jim Flaherty pricked a tiny hole in the real estate bubble last summer …

There is no by-line, just a note at the bottom of the article saying “To be feature in the Province Focus pages, please go to http://www.the

#215 Tom Vu on 03.15.13 at 3:18 pm


6 out of 7 Dwarfs are Not Happy !

#216 Toronto_CA on 03.15.13 at 3:45 pm

I think Garth is going to wax on about this release today

“Debt levels remained at record highs in Canada in the fourth quarter, even gaining slightly from all-time marks set in the third quarter of 2012.”

People in Canada have taken on ever increasing debt to pump Real Estate, even after the F bomb was dropped on July 9th, and now the 3rd Q 2012 record debt to GDP ratio has been beaten by he 4th Q 2012.

At least we don’t have a student loan debt crisis like the USA has now?

#217 Mike in Surrey on 03.15.13 at 4:05 pm

#182 Dupcheck
I know many detached home buyers during 2002 and to spring of 2003 with 10% down made over 400% in just 10 years. Timing is everything; I am waiting, perhaps just wishing for a 20% correction so I get an investment property. Also, leverage is the game in property ownership, but I would recommend 30% down-payment for detached.

#218 LaughingCon on 03.15.13 at 4:25 pm

Smoking man/Whazzup did you miss me – I am back and this is my gift to you and to the readers of this fine blog:

The nonexistent REBGV (similar to the one published by TREB) report for the first two weeks of March 2013 compared to March 2012 based on the numbers reported by the popular Vancouver RE agent Rob Chipman –

Stay tuned for the one from TREB (due perhaps on Monday)

#219 QQ on 03.15.13 at 4:38 pm

actually i checked Brad Lamb’s calculation, they are mathematically within the realm of possibility, albeit not highly likely.

even then, 282% pretax return is 14.34% per yr. considering this requires a 4:1 leverage, the return is rather uninspiring.

for comparison, using Lamb’s strategy of 4:1 leverage to invest in the S&P/TSX for 10 yrs could also yield a return of ~40% per yr or 2893% at end of 10 yrs. this is easily achievable – Warren Bufft has done this for 4 decades in a row!!

the only problem is, your probability of achieving the same result is not as good as you think.

#220 observer on 03.15.13 at 4:40 pm

I wonder if any greater fool out (who bought recently) there would like to comment.

If you bought you home last month and you placed 0 to 5% down on the unit. And the price dropped 8.1 %.

How does it feel to lose 3.1 % + fees in less than a month.
Is it still better than renting?

Or in dollar terms Avg house 850,000 x .031 = 26,350 in just a month. Geez, that a bit more then rent + you still have to pay for your mortgage and CMHC and property taxes and Bank Fees for your loan and maintenance …….

#221 Ronaldo on 03.15.13 at 4:54 pm

Talk about a crock of b.s.

#222 Victoria Real Estate Update on 03.15.13 at 4:55 pm

I’ve calculated the SFH 3-month median price drop from peak for the central Okanagan (Kelowna) using stats.

SFHs peaked in May 2008.

493 K

402 K

Since September 2012, SFHs have declined in price from 435 K to 402 K (-8.3%) in 5 months.

#223 Kevin on 03.15.13 at 4:58 pm

CREA press release

“Actual (not seasonally adjusted) activity came in 15.8 per cent below levels reported in February 2012. Almost 80 per cent of local markets posted year-over-year declines in sales activity in February, the most notable exception being Edmonton.”

I was gathering stats for a bunch of markets and I did not find one that had an increase in sales this Feb compared to Feb 12. Even Edmonton. And I checked with the Edmonton Real Estate Board website for stats that included the City of Edmonton and and as well Edmonton CMA. City of Edmonton had an 8% loss in sales year over year while Edmonton CMA had a 14% loss in sales year over year. I did find that YTD sales did increase in the city of Edmonton in 2013 compared to 2012. But I’m not sure what CREA is smoking.

Here is the graph.

If I was not too busy shoveling snow, I would adjust those sales for population growth year over year. Those red bars would show even greater percentage losses.

#224 Victoria Real Estate Update on 03.15.13 at 5:02 pm

I’ve calculated the SFH 3-month median price drop from peak for the central Okanagan (Kelowna) using omreb stats.

SFHs peaked in May 2008.

493 K

402 K

Since September 2012, SFHs have declined in price from 435 K to 402 K (-8.0%) in 5 months.

#225 claudius emperor on 03.15.13 at 5:06 pm

Garth, congratulations.

This blog has some power after all.

#226 happy renter on 03.15.13 at 5:06 pm

The woman who thinks Victoria real estate is crashing needs to wake up.Victoria population is highly educated and have well paying jobs.The majority of the households make over $85,000 a year.Same as Vancouver,supply and demand.Now Alberta is catching up on real estate and will have the same prices as B.C.

#227 Old Man on 03.15.13 at 5:06 pm

I know that everyone wants to own a home in life, and it hurts to not own one, so for you renters just save your money, and be patient to watch the meltdown over the next few years. Do your homework to spot the location that you want, and have fun with it all to explore the area to walk the neighbourhood and partake in all that it has to offer.

Fall in love with the potential buy, as do not make a mistake, and be patient with your cash savings to make a buy like a fox stalking a prey when the time is right to hit the bottom for your dream residence, as will save you cash capital to make a hit for a bargain.
The one thing to avoid is buying debt too soon to own that capital asset – good luck, and hoop a bargain with patience.

#228 Old Man on 03.15.13 at 5:28 pm

I want to say one more thing, as some of you are worried about the cost of money called the mortgage rate, and want to jump in to buy a home. This is all a trap to buy debt in a falling asset market, and if you wait will lose out, and am saying wait a few years or more and save your money to hoop a bargain.

Some of you will say the mortgage rates by then might be 2% higher, as I say so what, and Old Man you are all wrong. Now if you with patience can buy a capital asset for a discount of $50,000 or much more, the increase in the cost of money over time will become a joke.

#229 OttawaMike on 03.15.13 at 5:42 pm

I voted for Ben Rabiddog to give Garth a little humility in this contest.

#230 Tom Vu on 03.15.13 at 6:04 pm

Old Man:

Silence is Golden
Duct Tape is Silver

#231 Raj on 03.15.13 at 6:14 pm

U got my vote, after all its about. Real Estate and not gold

#232 Berniebee on 03.15.13 at 6:20 pm

#201 OttawaRenter

I’ve noticed that several properties that sold recently in our Ottawa neighborhood have been put up for rent too. In fact, when we sold our house, we got a call from someone who admitted they were looking to buy as an investment. I can’t see how someone would make money doing this. Current rents might almost cover mortgage payments at 3% rates, but certainly not taxes and maintenance. Looks like some people still have faith in ever rising prices.

#233 Nostradamus Le Mad Vlad on 03.15.13 at 6:49 pm

You seem to be at the forefront with 77%. Keep on truckin’!
Thought For the Day! ( — “The people are hungry: It is because those in authority eat up too much in taxes.” — Lao Tzu
Jamie Dimon’s e-mails Who wouldn’t love to be a fly on the wall at JPM’s boardrooms? Hmmm. Market turnaround while consumer confidence sucks wind? Wal-Mart Always low wages; Gold and Silver “Deutsche Bank, Scotiabank and HSBC conduct the silver fixing by phone once a day at midday. The first settlement was in 1897.”; Detroit’s Sadaam Hussein; Taxpayers are being milked dry; Albuquerque Tossing the homeless out.
1:10:37 doc. Edible City — beat Monsanto at their own game (don’t use their seeds); NSA US ready to cyber attack; 3:28 clip Wisconsin’s new concealed gun law helped this person out, and Post Sandy Hook How the gun control push has backfired; 0:35 clip “Wait a moment; didn’t you global warming cultists tell us all the polar bears would drown?” No, they’re Brown, not white or drown; 9:39 clip A raucous exchange in one of Oz’s parliaments, on Israel but mainly due to the fact that Palestine (as usual) was completely ignored; Pope Francis The ultimate black pope; Colonel Drones are not our buddies, and 3:40 clip Charlottesville is first city to ban drones; 0:55 clip Dianne Feinstein caught lying about her past with guns (she is a politico); ObombaCare Nullified in Oklahoma; Under the Sea More life there than we could imagine; Autistic Children “The researchers found that autistic children had 41 percent higher levels of lead in their blood and 74 percent higher levels in their urine than non-autistic children.”

#234 jess on 03.15.13 at 6:51 pm

mr. lamb is obvious but the not so……. piled on risk, hid losses, disregarded risk limits manipulated risk models, dodged oversight and misinformed the public,” Levin said Friday at the hearing.

March 15, 2013

#235 45north on 03.15.13 at 7:16 pm

OttawaMike: I voted for Ben Rabiddog to give Garth a little humility in this contest.

I voted for Rabidoux because I like his charts.

#236 Doug in London on 03.15.13 at 7:20 pm

I also voted for Garth. Why? There’s much argument on that site about whether or not real estate in cities like Toronto and Vancouver (many other cities also) are due for a correction. In many other countries where there has been a bubble (including in our neighbour the United States, did anybody actually notice that?) a correction has followed. Add to that the fact we’ve had real estate corrections right here at home such as in the early 1990’s. You connect the dots and figure out what happens next.

Is it really different here in Canada? I find it hard to believe that the laws of economics as we know them cease to exist once you cross that imaginary line in the middle of the Niagara River.

#237 Old Man on 03.15.13 at 7:31 pm

Imao, as these losers who bring in Mr. Garth Turner for a vote competition are nuts, as he just blows them away, as sits back and laughs about it all while he gets another cup of coffee to watch the show.

#238 Daisy Mae on 03.15.13 at 8:31 pm

#197 Prairie Person: “If there was ever an example of government needing to step in and apply the same rules to RE as to the financial markets….”


And yet….the gutless wonders do nothing.

#239 espressobob on 03.15.13 at 8:40 pm

77% of the popular vote is pretty much a no brainer! There’s nothing sweeter than a little justice against these realtors who continue to pump their dung!

A little payback for those nauseous “LAMB” billboards plastered over the Toronto downtown.

#240 dickdanger on 03.16.13 at 11:11 am

FYI, seems that lamb-chops is getting slaughtered as well… just voted for Garth and he is ahead by a longshot …we’re talking 7-10 times ahead… seems finally the support for those who are in the game for financial gain is waining…. duhhhh really ….amazing how long it has taken for people to wake up….

#241 dave b on 03.16.13 at 5:26 pm

Garth, any update on this blog entry “Moron Listing Service”?

McMullin has just finished testifying as the first witness in an action against the mighty Toronto Real Estate Board. The federal competition cop sued TREB for preventing its own members from having efficient access to their MLS data (and, of course, Viewpoint). The Competition Tribunal is expected to make a ruling early in 2013.

#242 fred munster on 03.16.13 at 9:46 pm

Bury some figurines in your front yard, and don’t forget to drop the price.

Martin Shampoux’s house has been on the market for three months and he’s running out of time to sell as his family moves into their new place on Monday.

So Shampoux’s burying a figurine of St. Joseph in his yard — an old Catholic tradition thought to bring luck in real estate — and he’s dropped his asking price, which could attract a first time buyer

“We just hope it brings us good fortune and that we sell our house,” he said.

#243 Old Man on 03.17.13 at 2:08 pm

I am in touch with Europe and they are freaking out, so will see how asian markets react tonight at about 9:30 PM, as might short the Euro in Hong Kong. I am a member of the Royal Circle and RBC have a trading floor there. The Euro closed at 1.3085 and the CND closed at .9808, so if needed will be on my speaker phone directly, as can do all before the markets open in Europe or North America. It is a risk, but might be able to hoop me some spending money.