Feelings

comfort

It was a week which brought us an historic collapse in the price of gold. A commodity-fuelled slapfest on the TSX. Agony for the shareholders of Barrick, and Apple. The worst week for stocks so far this year. Maimed limbs and memories of Nine Eleven in Boston. And, of course, more dismal numbers out of the Canadian housing market.

But things don’t just occur. People make them happen. And humans are ruled by their emotions. This is the beating heart of technical analysis, which charts events while it chronicles fear and greed, desire and suspicion. Assets rise in value because people want them, and fall when they don’t. As you know, the past few days have brought extreme moves for exactly that reason. There’s definitely more to come.

So let’s set the scene with a further glimpse into what folks are telling me.

My name is Calvin and I just started hearing about your blog recently, and it got me thinking a little. Sadly, my dad died about 4 years ago, he had an insurance policy that left me $500k. Soon after, I bought a BMW M3 to cheer me up for about $80k. I paid in cash. The following year, I spent about $250k on a condo to rent out in Markham, again paid for in cash. I kept the remaining money in some ETFs and bonds.

I currently make about $55k a year, working multiple jobs. I’m single, no girlfriend and no kids. For the last few years I’ve been living in a rented house for about $200 a month. I’ve always wanted to own my own house, so when my landlord wanted to increase my rent to $300, I started to look around for some other options.

I decided on a freehold townhouse for $550k in Richmond Hill, it’s about 5 years old. I did some manoeuvring with loans and leveraging and managed to get a $600k “mortgage”, and decided to use $50k on renovations to make the place nicer. I’m hoping these renovations will increase the value of the home.

I rented out my condo only the first year and because I was too lazy to find another tenant, I’ve left it vacant, while paying $500/month in condo fees. I don’t currently make enough money to pay the “mortgage” payments. Luckily, the realtor who found me the house also found me some great tenants. I am currently renting out my condo to a babe for $1500/month. In addition to that, I am renting out a room in my house to another babe for $500/month.

The house is currently in renovations and I am having some second thoughts. Maybe I might be better off selling one of my properties. Am I out of my mind?

Yes you are, Calvin. You’re an idiot. You started with a windfall of $500,000, and now have $800,000 worth of real estate, $600,000 in debt, less than half your inheritance and a used chick car. Worse, your properties are in ground zero territory for a spanking in the coming correction. Nice job on the babes, however.

Hi Garth: We live on the West Side of Vancouver in Kitsilano. I take frequent walks through this lovely neighbourhood and the lack of real estate For Sale signs is a shocker when compared to last spring. You can go blocks without seeing one, when last April there would be a couple every block. Another anecdote, the 1 bedroom condo next to ours sat unsold for six months before being withdrawn from the market last month. This is a desirable building: older concrete, no leaks, tennis court and swimming pool. You predicted this, well done!

It wasn’t hard. Any time people in a community believe it’s different there, supported by the professional house humpers, the media pumpers, local academic ‘experts’ and everybody’s mother-in-law, the market’s doomed. Real estate sales have collapsed in Van, but prices have only begun to move. What’s happening in Whistler and Richmond will also be infecting Kits and North Van as 2013 rolls out. The shock will be immense. Are you watching, Calgary?

Hi Garth: I sure enjoy your snarky but realistic observations. Not looking to buy or sell simply curious about market reality vs CREB hype.  They seem able to make a funeral into a whoop up.

Inner city district about  5 – 10 minutes to downtown on a single family and infills where we live seems to be holding steady if not increasing in price. We bought  1980 infill on 25 ft. lot cheap in ‘ 94 at 137K and we have a spruced up infill by same builder which sold for 583 K. Lack of land in inner city  to build on and listings are causing the rise. Old bungalow on a full lot across the street reputed to have gone for 600K for land value only.

Lots of uncertainty in oilpatch over pipeline capacity and the oilpatch is slower than it has been for years. I would trust your pragmatic views over the property pimps in this burg.

It is different in Calgary. It’s worse. Year/year prices are up a startling 9%, but sales have just turned negative compared to last Spring. SFH sales are down 6%, and listings have crashed 22% – the lowest level in six years. The average price of all properties is now almost $450,000, which is 85% of the average value in Toronto, which has 83% more people. Higher prices on declining sales are never encouraging. Moreover, the recent collapse in commodity prices, complete with $88 oil, is a job killer in an economy which is sorely undiversified. The nation’s most American city risks getting a wee taste of Vegas.

Quick note to say how much I love your blog and you nail the whole ‘buy, buy, buy’ insanity so perfectly and with such delightfully blunt sarcasm that you make this ex-pat Brit (living in Vancouver) very proud! For the past 4 years, my husband and I rented a house from friends for $1,400 per month – and it’s now on sale for close to $1Million. Heck, with just $90K down and paying 3 times more money each month, we could be completely broke and live in the very same house!

And, just for added effect and a good laugh, feast your eyes on this classic Vancouver treasure – just a few houses down on the very same street, and a mere $1.1 million.

shack

You know what I say to that? HAHAHAHAHAHAHHAHAHAHAHAHAHA!  Seriously, you’d have to have ROCKS in your head.

Or your pants. Hey, maybe Calvin wants to buy it!

Next post (April 21, 6 pm):

Why aren’t there locked-in, 30-year mortgages in Canada?

235 comments ↓

#1 Randy on 04.19.13 at 8:37 pm

That’s one nice Crack Shack !!

#2 Lady Gaga on 04.19.13 at 8:44 pm

Secooond?

#3 peter on 04.19.13 at 8:46 pm

Thiiirrdddd!!??

#4 duke on 04.19.13 at 8:48 pm

Today I was in Mississauga driving through a parking lot along Hurontario. Who shows up in front of my vehicle? BRAD LAMB. He juts out in front of my car without a care in the world forcing me to stop quickly on the rain covered asphalt. Forcing me to do a quick and unsafe stop.

He smiles at me and continues on his way. I clearly had the right of way. He was off to Montana’s Steak house to get lunch. What a jerk! ! ! When most people are jerks they don’t smile. He had a grin ear to ear. I couldn’t believe it!

#5 FTP - First Time Poster on 04.19.13 at 8:52 pm

Well, that wraps up yet another epic post that will no doubt bring out the regular troupe of window lickers. 54+months of posts and the morons continue to come out of the woodwork.

#6 Rural Rick on 04.19.13 at 8:54 pm

Nice reference to what really matters Garth. Love the pic.

#7 AisA on 04.19.13 at 9:01 pm

Rocks indeed. What is there to say? That says it all. Saying 1.1 million doesn’t do it justice though. You have to have the full number next to the photo for full effect.

$1,100,000! Gewd lawd thas allota muny!

#8 Paully on 04.19.13 at 9:06 pm

You want to see some potential future pain? Look at 15 and 21 Icebridge Terrace in downtown Toronto. They are part of Cityplace, just southwest of Front and Spadina. Those two addresses had about 115 listings on MLS.ca today! Add in the next block or two, and there were closer to 300 listings. Think the prices may start to fall as vendors battle to get their particular unit sold?

#9 Paully on 04.19.13 at 9:07 pm

Sorry, meant Iceboat Terrace.

#10 Bramptononfire on 04.19.13 at 9:10 pm

Well Brampton is on fire it seems. Nothing decent stays for more then few days , a week max north of Bovaird , south of 410. Even townhouses @ northern border of brampton ,with monthly fees r selling for 400k+ within days . No slowing down there

#11 Bramptononfire on 04.19.13 at 9:10 pm

Sorry meant to say east of 410.

#12 Old Man on 04.19.13 at 9:16 pm

I see this picture and it brings tears to my eyes, as that man is dying with his dog giving him comfort. There was time years ago that had tea one night with this old woman who was worth a fortune, and she knew that I had a few bucks, so we became friends for discussions.
There is one thing she told me that will never forget in conversation, as said there is no wealth without your health in life.

#13 AK on 04.19.13 at 9:19 pm

“I’m single, no girlfriend and no kids.”
————————————————————

Lucky Guy!!!

#14 espressobob on 04.19.13 at 9:19 pm

Thanks Garth for another grear post! Thats one strong pic! Perhaps it shows just how foolish and lusty many of us have become. Thats a real shame.

Aside from your generosity to educate some of us, one has to wonder what really matters in this world?

#15 VT on 04.19.13 at 9:20 pm

#73 T.O. Bubble Boy on 04.18.13 at 10:56 pm
Gail Vaz-Oxlade gets into a new market — divorce planning!

http://commonsensedivorce.ca/

Is this what mortgage brokers and realtors will be doing soon?

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

This is no joke. Along this theme, I saw this post on facebook a couple of weeks ago where a long-standing real estate law firm in Toronto has out-of-the-blue branched out into family law.

New trend?

https://www.facebook.com/permalink.php?story_fbid=558316780880477&id=154087371303422

#16 not 1st on 04.19.13 at 9:28 pm

You bought an $80k car to cheer yourself up? You could have bought a $100 dog and got more out of it. Instead of $500k, your dad should have given you a little investment and money wisdom. You’ll be out of that cash in no time the way you are going. Unbelievable.

#17 Weedeater on 04.19.13 at 9:31 pm

Calvin, you’re an idiot.

#18 not 1st on 04.19.13 at 9:32 pm

Speaking of Boston for a moment, it simply amazes me every time there is some sort of incident, the MSM totally whores themselves out try to get the most coverage and “breaking” stores in which nothing happens. I mean they interviewed the guy who fixed the bombers car a few days a go.

I turn it all off now. Its totally disgusting and not journalism.

#19 Stan on 04.19.13 at 9:38 pm

Calvin Klein, from the yesterday’s picture? What a coincidence.

#20 Feelings — Greater Fool – Authored by Garth Turner – The Troubled Future of Real Estate | The Affluent Boomer™ on 04.19.13 at 9:39 pm

[…] It was a week which brought us an historic collapse in the price of gold. A commodity-fuelled slapfest on the TSX. Agony for the shareholders of Barrick, and Apple. The worst week for stocks so far this year. Maimed limbs and memories of Nine Eleven in Boston. And, of course, more dismal numbers out of the Canadian housing market. Continue reading → […]

#21 shanks on 04.19.13 at 9:45 pm

Calvin
ditch the condo, make an offer to your babe tenant that she cant refuse (NOT A RING).

#22 JL on 04.19.13 at 9:47 pm

Garth

Regarding Calgary, which stats on earth are you referring to? Calgary sales in April are up over 12% year over year. http://www.creb.com/

As for your argument about oil prices and jobs. How can you be so inconsistent?? When oil prices are high you say a tiny percentage of Calgarians are impacted so its no reason to be bullish on prices. But when oil prices are low it’s cause for concerns prices will fall as a result. Huh? Either houses prices are tied to oil prices or they aren’t. They aren’t just going to be correlated to one direction.

Calgary rents are insane and there is almost no vacancy. I listed a 1 bed 1 bath average condo in downtown Calgary for $1650 and my phone literally blew up and I had it rented in a day. A friend if mine went to an open house for a rental of a main floor and there were 40 people there (no exaggeration). Maybe house prices will fall, but if rents are any indicator it looks unlikely.

#23 DaleFromCalgary on 04.19.13 at 9:48 pm

Garth: Regarding your remarks about Calgary. I agree that Cowtown is just at the tipping point for a real estate crash but it’s not because of oil prices. Conventional oil wells can make money down to $20 and established oil sands projects to $50. What the mass media aren’t reporting is that the geological and engineering work is mostly done in Texas or India, and equipment fabrication in China or Germany. It isn’t geologists buying the boxes way out in South Cranston or Kincora, it’s carpenters and move-up Boomers who haven’t heard the news.

Oil prices have been in the range of $85 to $95 for a couple of years now, which is fine. What’s killing us is natural gas. Anyone with dry gas wells has shut them, while wet gas is flowed only for condensates. My natgas and coalbed methane wells are being converted to wellhead electrical generation. Cowtown employment statistics don’t take into account that the jobs being filled are $2,000 per month sales clerk or shelf re-stocking positions.

To sum up: oil is fine, natgas is terrible, and the high-paying jobs are outsourced.

#24 scooby doo on 04.19.13 at 9:51 pm

CBC:
http://www.youtube.com/watch?v=4wgbpGF9kT0

#25 salonist on 04.19.13 at 10:01 pm

the fool on the hill, you.

#26 Paul on 04.19.13 at 10:07 pm

Sold a 20 year old queen bed today. The young lady that bought it showed up in a new convertable Jag. Her Hummer was in getting fixed she said. Got $110 for the bed.

#27 Freebird on 04.19.13 at 10:07 pm

You bought an $80k car to cheer yourself up? You could have bought a $100 dog and got more out of it.
_____________

Better yet adopt. When my father died a few years ago cancer (he loved dogs) I inherited some money. I paid off debt and gave my hubby some new sporting equipment (which he’s used many times since). Money and things would not have cheered me up but knowing I used the money in a way he would have liked did.
_____________
@oldman

…no wealth without your health.
_____________

If you’ve watched those you love take their last breath and face you’re own serious health issues you learn the hard way what’s really valuable. Correction, hopefully you learn it. Looks like Calvin has a way to go.

#28 think again on 04.19.13 at 10:13 pm

Truth is stranger than fiction….

#29 Andrewski on 04.19.13 at 10:16 pm

Old saying, people don’t plan to fail, they fail to plan…

#30 betamax on 04.19.13 at 10:23 pm

#4 duke: “BRAD LAMB. He juts out in front of my car without a care in the world forcing me to stop quickly on the rain covered asphalt.”

That’s a shame.

#31 HDJ on 04.19.13 at 10:29 pm

“The average price of all properties (in Calgary) is now almost $450,000, which is 85% of the average value in Toronto, which has 83% more people.” Garth

Toronto may have 83% more people than Calgary, but it also has significantly more SFHs and Condos than Calgary. In view of this difference in the number of properties, how relevant is the larger Toronto population number to the price comparison between these two cities?

More people = bigger economy. Bigger mayor, too. — Garth

#32 Jean Poutain on 04.19.13 at 10:35 pm

In Montreal here we have no housing problems like in all your anglo provinces. We quebeqers have been much more responsible, we do not lad ourselves with so much debt. In Montreal it is still a great investment to buy a house!

#33 Adrian on 04.19.13 at 10:40 pm

At least he picked the right show off vehicle.

The M3 is an amazing car in all areas, a masterpiece of automotive engineering. Sure it turns their owners into automatic douchebags, but this is what happens when you get exited about driving again, and are stuck in traffic with everyone else talking on their cellphones, texting, eating, putting on makeup, driving like they just ended a 24 hour shift at the E.R, and generally being oblivious to their surroundings.

I’ve done a lot of driving all over the world and I truly think Toronto has some of the most inept and inconsiderate drivers out there. If you want to drive 30 under the speed limit, please get out of the fast lane and preferably off the highway entirely. The rest of us want to get home to have dinner and maybe see our kids before it’s bed time.

Sorry, got emotionally sidetracked a little bit.

#34 Ray Skunk on 04.19.13 at 10:44 pm

Calvin is renting for $200/mo?

Where does he live? A self-storage unit?!

I mean, I’m all for being careful with my money, but you still need to live – and with an injection of half a mil, I think I could splash out a little more than $200/mo on rent.

Still, must be the coolest self-storage unit in town with the M3 parked outside of it.

#35 Deliverator on 04.19.13 at 10:45 pm

“Central banks can be opportunistic and proceed with quantitative easing now the gold market is surrendering with regards to its hyperinflation fears,” said Edward Yardeni, president and chief investment strategist at Yardeni Research Inc. in New York.

If gold isn’t anything special, nothing important – if it’s just another commodity like pork bellies or wheat sulfur or lead – why would they care?

They don’t. That’s crazy Yardeni talking. — Garth

#36 jan on 04.19.13 at 10:45 pm

A person dying of cancer in the picture looks like.
It almost brought me to tears but I can’t quite see the relevance tot the subject at hand.

#37 JSS on 04.19.13 at 10:46 pm

#23 DaleFromCalgary on 04.19.13 at 9:48 pm writes

“What the mass media aren’t reporting is that the geological and engineering work is mostly done in Texas or India”.

Then who the h%^l are all those office towers in Calgary being built for? Who’s working in these towers?

#38 The Prophet Elijah on 04.19.13 at 10:53 pm

Oil prices have been in the range of $85 to $95 for a couple of years now, which is fine. What’s killing us is natural gas. Anyone with dry gas wells has shut them, while wet gas is flowed only for condensates.
——————————————————–
Alberta oil is only going for $50ish, that’s the problem. Where have you been.

Calgary and area listings:
March 27 – 5306
Today – 5796

Keeps going up almost every time I look. Is this swing normal for Cowtown? Buhler Buhler? No one answers this one.

#39 Sonking man on 04.19.13 at 10:54 pm

Yink you know what I’m thinking, don’t give a shit

Hum calling the markets perfectly, four 5 years..down to the minutes of major trend reversals You just got me a major raise… Thanks….

Unfortunately you made me a back door man..

#40 not 1st on 04.19.13 at 10:58 pm

Calgary once had more than 12,000 active listings in 2007 or 2008 and the sky didn’t fall then. I would say 5,000 listings is still a tight market.

#41 B on 04.19.13 at 11:04 pm

Stupidity like Calvin’s just makes me sad…

#42 jan on 04.19.13 at 11:07 pm

you said….no 40..Calgary once had more than 12,000 active listings in 2007 or 2008 and the sky didn’t fall then. I would say 5,000 listings is still a tight market

But what was the average price back then homie????

#43 drydock on 04.19.13 at 11:18 pm

http://www.youtube.com/watch?feature=player_detailpage&v=Im7M5qjJXys

Speaks for itself, if you need an explanation then you are too far gone.

#44 The Prophet Elijah on 04.19.13 at 11:23 pm

#40 not 1st on 04.19.13 at 10:58 pm

Calgary once had more than 12,000 active listings in 2007 or 2008 and the sky didn’t fall then. I would say 5,000 listings is still a tight market.
———————————————————
But I think it was tanking until emergency interest rates kicked in. Prices are about the same now, maybe a bit higher, rates the same, a few jobs lost in the oil patch…..so what will be the catalyst….?

#45 Carpe Diem on 04.19.13 at 11:30 pm

Calvin makes me think of 2 brothers.

Father passes away and leaves 300K each kid.

One brother keeps working hard and invests wisely.
The other brother goes to Mexico and parties for years.

Guess who loses in this story?

#46 Victor V on 04.19.13 at 11:30 pm

http://www.theglobeandmail.com/globe-investor/personal-finance/mortgages/home-buying/why-preet-banerjee-is-choosing-renting-over-buying/article11260888/

Anecdotally, I know many people who are buying houses or condos and are moving well before the five year mark. Many of the people in this building were in their thirties, right around the time when they get married, have babies, get divorced, or get jobs for which they might have to relocate. Real estate agent fees and land transfer taxes create a serious drag on returns for the owning versus renting debate. The more you move, the better renting looks.

Renting versus buying is a hotter topic than ever in some locales. Both can make sense, but only when you take time to run the numbers and be honest about your particular situation. Will you actually save the difference? How long will you stay put under one roof? I’m currently an owner, but looking to move back into the city which I haven’t lived in for almost 10 years. While I figure out where I’d like to put down roots, renting for me is a no-brainer.

#47 Justin for PM !! on 04.19.13 at 11:33 pm

#32 jean pautain: Oui, Montreal is not suffering from any housing bubble problem, our home prices did not rise so much. We Quebecers do not like to speculate like all those stupd anglophones!

#48 Tom Vu on 04.19.13 at 11:35 pm

#206 Old Man on 04.19.13 at 8:06 pm

I went last week to Hy’s Steakhouse on a date, and had a dinner meal that cost me $300.00 with a lady, and then off to a play, and before the night was over it cost me $600.00, so ask myself whatever happened to the old days for a cheap date? I say the best first date in the world is at Tims for a donut, and a coffee, but no takers for me. :(

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

Not sure the cryptic message.

Was blow – up doll dressed as a cop?

Not matter…one is useless and can’t taser you.

#49 Okotokian on 04.19.13 at 11:36 pm

“Students who acquire large debts putting themselves through school are unlikely to think about changing society. When you trap people in a system of debt, they can’t afford the time to think. Tuition fee increases are a disciplinary technique, and by the time students graduate, they are not only loaded with debt, but have also internalized the disciplinarian culture. This makes them efficient components of the consumer economy.”

Noam Chomsky

#50 HDJ on 04.19.13 at 11:37 pm

“The average price of all properties (in Calgary) is now almost $450,000, which is 85% of the average value in Toronto, which has 83% more people.” Garth

Toronto may have 83% more people than Calgary, but it also has significantly more SFHs and Condos than Calgary. In view of this difference in the number of properties, how relevant is the larger Toronto population number to the price comparison between these two cities?

More people = bigger economy. Bigger mayor, too. — Garth
……………………………………………………………………..

Yes, but a city like Victoria (for example) has a relatively small population and economy, and yet has extremely high property values. In this case the correlation you’re suggesting (more people = bigger economy = higher property values) doesn’t hold. There are many factors (Victoria weather?) that contribute to determining property values.

#51 White Rock Mom on 04.19.13 at 11:41 pm

Hi Garth,
Can you do a story on the number of empty houses for sale. Why are wealth foreigners able to trade houses like stock? It is like a ponsy sceme. The government collects transfer fees and taxes. Fraudulent tax free capital gains to people that never live in their house. The average income earners and even high income earners can’t afford an average home. Yet I rant…
Mom

#52 Mrs. Riverview on 04.19.13 at 11:56 pm

I do not think Calvin is stupid. I think the picure explains all.

Losing a loved one can be devastating. It is not correct to call the insurance proceeds a ‘windfall’. Sure, maybe in the legal sense it is, as in, CRA does not take a cut, but not in the general meaning of the word, as in, something that happens by sheer luck. Calvin received that money because his father died. It’s not like an inheritance that came from generations of effort, insurance proceeds are like collecting on a bet. The insurance company bet dad would not die then, and sadly, everyone lost on that bet.

Calvin’s emotions were and maybe still are at a place of loss. Garth writes that humans are ruled by emotions. It is damn difficult to apply cold, hard reason when ome’s emotions are at a place of loss.

Garth, I think it is cruel of you to call Calvin an idiot. I don’t think you mean it, you are just playing a character. I think at your heart you want to help people. You shoul do that here and tell Calvin what to do with the last two hundred thousand that remains. In other words, tell us all how to take a big loss and turn it into a gain.

#53 Dr Hoof-Hearted on 04.20.13 at 12:01 am

#32 Jean Poutain on 04.19.13 at 10:35 pm

In Montreal here we have no housing problems like in all your anglo provinces. We quebeqers have been much more responsible, we do not lad ourselves with so much debt. In Montreal it is still a great investment to buy a house!

==================================
Oui Monsewer

Love yer speech!

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

Celebrate Fathers day…just in case !

#54 Bill Gable on 04.20.13 at 12:05 am

The picture was seriously poignant.

My question to you: How many “Calvins” are there out there? Dreamily running up the debt, driving the flashy ride, and acting like big shots – while they ignore the reality that they are going to be stone broke, not that far down the road.

The brain trust in Ottawa, said last month our Country was supposed to create nearly 60 thousand jobs. Oops, we lost, how many? 8,000?

Debt is going to eat a TON of folks alive.

Dumbo Calvin, could have taken the $500 K – and invested it carefully, and sit on a nice chunk every month.

Instead? Cue up Tammy Wynette – “B-R-O-K-E”

#55 not 1st on 04.20.13 at 12:14 am

#42 jan on 04.19.13 at 11:07 pm

But what was the average price back then homie????

_______

The average price topped out at around $500k and then started to slide about 10-15% over most areas for a few years, then it resurged again in the last few years.

#56 Dadeo on 04.20.13 at 12:15 am

Ok here’s a new world order of cooperation and not another ~ism …

http://discerningkate.com/2013/03/26/prout-a-new-socio-economic-paradigm/

#57 VanPerfecto on 04.20.13 at 12:19 am

American what is your take on America being Cyprused. Garth can we believe Jim Sinclair? Wasn’t he endorsed by Paul Vockner? Maybe the guy who inherited money should of bought a few gold coins
Eric King: “So their intention is to ‘Cyprus’ the United States?”

Sinclair: “Yes. No question about it. It’s the legacy over-the-counter derivatives that are coming in for some adjustment that can’t be made, and the fractional reserve gold system has failed.

There is no gold there to deliver. What first gave rise to this was the German situation, but then when ABN AMRO shut gold deliveries down it accelerated. The reason they blasted the gold market was to camouflage the fact that the fractional reserve gold system, which is very important to financing and to the government, failed.

The truth is that when we take out these futures markets on a failure, gold is going to $50,000. Not $3,500. $50,000. We are in the midst of a failure right here, right now. That’s what this is all about. This takedown has been the ultimate can-kick.

This has been to stop the revelation of what the central planners are so panicked about, and the fact that the US is going to get Cyprused. They have now manufactured a situation right here at this point in time where it is almost impossible to save yourself.”

#58 msnyahoo on 04.20.13 at 12:25 am

Finally, some words from you on Calgary. Unfortunately, the reality on Calgary’s ground does not match your analysis. Both Sales and prices are up YoY. Inventory is low, so more pressure on prices. Rental market is crazy, pushing more and more people towards home ownership. Second lowest unemployment rate in Canada.

What am i missing that you are seeing?

#59 jim on 04.20.13 at 12:39 am

I was thinking that calvin is a figment of Garth’s imagination. However, I am not sure one could make up such a story. Not only did he chew through his inheritance in due course, but he doesn’t even sound like he had fun doing it. (Apart from the car). To have that much money and still be talking about ‘babes’ in the abstract.

(On the plus side, he has time and freedom to pursue his interests. I’d try to broaden those to include activities that won’t result in the loss of more money)

#60 eee on 04.20.13 at 12:39 am

#31 HDJ on 04.19.13 at 10:29 pm

“The average price of all properties (in Calgary) is now almost $450,000, which is 85% of the average value in Toronto, which has 83% more people.” Garth

Toronto may have 83% more people than Calgary, but it also has significantly more SFHs and Condos than Calgary. In view of this difference in the number of properties, how relevant is the larger Toronto population number to the price comparison between these two cities?

More people = bigger economy. Bigger mayor, too. — Garth

In what Universe Toronto has 83% more people?
Calgary = 1M, Toronto City= 2.6M Metro = 5.6M

#61 Tony on 04.20.13 at 12:55 am

As hard as it is to believe everything that lists in Markham sells in only a few days. Calvin should unload his condo in Markham before that changes. I remember what a house used to cost in Richmond Hill around 1984. Calvin of course wouldn’t have a clue. Buying that townhouse was a fatal mistake. Most of his inheritance will go up in smoke.

#62 Tony on 04.20.13 at 1:10 am

Re: #22 JL on 04.19.13 at 9:47 pm

Listings in Calgary are exploding, at the same time home prices are falling. It looks like last month double topped the 2007 high but maybe in a couple of decades it can be broken again.

#63 TRON on 04.20.13 at 1:11 am

Was out looking at furniture tonight. Store was empty but full of furniture…nobody else but us and the 4 sales people. On the way out I asked the guys at the desk how business was. Terrible’ they said, it’s not been this bad since the 70’s. I said ‘you’re joking ,right? The guy said no and that business is down 40% from 5 years ago and down 20% since November 2012. He said it’s the same for all the furniture stores down the strip. I asked why he thought this was happening and he said ‘nobody is buying homes so they’re not buying furniture either’.

This week I ran into a neighbour who’s had his house in North Van on the market for a year. He listed for 2.2 million then dropped it to 1.8 million. I asked him what his realtor is telling him and he said he’s ‘freaking out’. So I asked him what he thought and he thinks the market will pick-up in a couple of months.

Another month or two and people will be in shock here on the west coast. Eventually you have to accept that help is not going to come, you’re stuck here and it’s going to get worse.

#64 Deliverator on 04.20.13 at 1:45 am

Three days after bombs went off at the Boston Marathon, and the day after a fertilizer plant explosion devastated a Texas town, THIS is what was on the cover of the Vancouver Province. A newsvertisement for tiny 297 sq. ft. “affordable condos” in a Vancouver suburb.

How can you blame the public for the mania, when it is relentlessly pushed by the so-called reliable and neutral media?

We are so screwed.

#65 Lol on 04.20.13 at 2:00 am

@ #38

Dale often posts oil-related topics. You come blundering in to tell him that he’s wrong.

http://www.psac.ca/firstenergy/

The current spread between WTI and WCS is just over fifteen dollars.

Try to be a little more respectful in the future. This forum already has a house fool (The Smoking Man).

#66 Notta Sheeple on 04.20.13 at 2:03 am

“…..complete with $88 oil, is a job killer in an economy which is sorely undiversified……”
====================

Undiversified? Lived there from 1980 (The Deerfoot ended at Glenmore Trail) until 2000. How many boom/bust cycles does it take for Albertans and their Conservative monopoly to figure this one out? Is J & L Supply Co. printing those bumper stickers once again, the ones that say, “Please God, let there be another oil boom. I promise not to piss it all away next time.”

Then again, what do you expect from a province that refuses to elect itself an effective opposition.

#67 DEDq on 04.20.13 at 2:41 am

DELETED

#68 DEDq on 04.20.13 at 2:47 am

#38The Prophet Elijah

Alberta oil is only going for $50ish, that’s the problem.

Wrong … it is $74 today. Prices have been improving for the last 3 months.

http://www.psac.ca/firstenergy/..

#69 h bergquist on 04.20.13 at 3:00 am

Garth:

Thanks for doing this. I want to comment on this:
But things don’t just occur. People make them happen.

almost Zen.
Thanks alot

#70 Canuck Abroad on 04.20.13 at 3:01 am

Calvin’s story is distressing. Where did all the money go, when he was paying only $200 a month on rent? (Typo?) Surely $200 gets you only a room, not an apartment? $80k on the car, $50k on renovations, closing costs on the two properties, etc. Still doesn’t get anywhere near what’s gone…where did it go? gifts? hookers? gambling habit?

Calvin should sell both places. Even after the 50% rent increase, $300 a month was a steal. Maybe his landlord will take him back. By the time the housing market corrects he will be completely broke.

#71 MB on 04.20.13 at 4:12 am

DELETED

#72 Humpty Dumpty on 04.20.13 at 4:17 am

So let’s set the scene with a further glimpse into what these folks are telling US…..

Peter….

G20 backs off austerity drive, rejects hard debt cut targets

http://www.reuters.com/article/2013/04/19/us-g-idUSBRE93I05Z20130419

Recieves from Paul…..

Finance Minister Schäuble is satisfied with the ECB. This was achieved, inter alia, that inflation is low. Schäuble also wants to advance the global taxation.

http://translate.google.com/translate?sl=de&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&eotf=1&u=http%3A%2F%2Fdeutsche-wirtschafts-nachrichten.de%2F2013%2F04%2F19%2Fschaeuble-ezb-hat-alles-richtig-gemacht%2F

To pay Mary…… and her sister….

Wolfgang Schäuble, the German finance minister and war horse of European politics, celebrated his 70th birthday at a theater in Berlin last September, two of the most powerful women in the world offered warm words in his honor.

http://global.nytimes.com/2013/04/18/business/global/euro-zone-crisis-has-increased-imfs-power.html

#73 Buy? Curious? on 04.20.13 at 4:21 am

Happy 420 Day!

Let’s not worry too much today about losers in BMW’s, Brad Lamb trolling parking lots in Mississauga or Senator Mike Duffy and his $90k housing expense that he claims to have paid back. How about today we chill out with some good tunes, good food, good friends and have a great time! And you wonder why women throw themselves at me.

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

Legalise it!

#74 Bargains everywhere on 04.20.13 at 5:02 am

This house sold for $930,000 in July 2012. Less than a year later, after refinishing the floors in the living and dining room (no other updates) they have just listed at $1,180,000. $250,000 more for what, exactly???

I know that it’s only the asking price but it’s now one of the cheaper homes in the neighbourhood and it will probably sell for close to that. This market still remains crazy in some areas.

http://www.realtor.ca/propertyDetails.aspx?propertyId=13059865&PidKey=1311234778

#75 Humpty Dumpty on 04.20.13 at 5:10 am

Calvin….
maybe Dr. Feelgood can assist you with a cure….

Mötley Crüe – Dr.Feelgood
http://www.youtube.com/watch?v=rBik-YD5sZ4

#76 Peter on 04.20.13 at 5:52 am

Hi Garth, I often agree with your opinion on the real estate condo market, but I think you lose credibilty when you use an example of a single person inheriting 500 k , buying a beemer to “cheer up” from his fathers passing, paying $200 rent (300 being too steep) referring to his tenants as “babes”, too “lazy” to re rent his condo, (his father should have left him a backbone w/ the insurance policy) , the babes will milk him of all of his money before his investments do. As well , the woman “renting from friends ” for next to nothing while ” her friends pay the mortgage , taxes etc , while she laughs in their faces , some “friend”..real estate investing has nothing to do with these examples , investing in stocks instead has Nothing to do with what’s important either or “feelings”, beautiful pic but belongs on something other then a money blog, we all die broke regardless, God bless

#77 Bob Copeland on 04.20.13 at 5:57 am

DV x Q = W
Years ago I read somewhere that Distinctive Value times Quantity equals Wealth. Talked about a teacher whose income was limited by the class room. After he put his lessons on tape he was able to do the same job for thousands of “students” and became wealthy.
You advise people to sell their home and switch home equity to financial investments. I’ve never seen you state when to get into or out of named investments.
Have you ever considered a fee based newsletter or web site that would spell it out for those with cash and little knowledge of where to put it and when to sell it?
With most people having very little knowledge and experience in investments they can become frozen with fear of loss. It’s easier to keep the home.

#78 Small Town Steve on 04.20.13 at 6:08 am

Congratulations Calvin you just won the prestigious “Financial Darwin Award.” What a dumbass. (Kudos on the “babes” though.)
Garth that picture is heartbreaking man.

#79 Daniel Wall on 04.20.13 at 6:42 am

Question:

Wife and I are in our mid 20s, make $95k per yr b4 tax, no debt, and looking at a condo in Ottawa. 2 bd 2 bth Place in our desired area has been on the market since January. Seller just dropped the price from 300k to 270k. That’s a nice 10% discount! There are 2 other similar units in the blding listed in the low 300 k range though they are finished a little nicer. The building is only a few yrs old and condo fees are 400 per month.

Garth, do you think the 10% drop is enough to make a move on the property, or how much more should we try and get them down recognizing prices still might drop over the next few yrs?

#80 Squatter on 04.20.13 at 7:31 am

#23 DaleFromCalgary on 04.19.13 at 9:48 pm writes

“What the mass media aren’t reporting is that the geological and engineering work is mostly done in Texas or India”.

Then who the h%^l are all those office towers in Calgary being built for? Who’s working in these towers?
******************************************
The family and friends of top managers.

#81 World Traveller on 04.20.13 at 7:57 am

I’ve done a lot of driving all over the world and I truly think Toronto has some of the most inept and inconsiderate drivers out there. If you want to drive 30 under the speed limit, please get out of the fast lane and preferably off the highway entirely. The rest of us want to get home to have dinner and maybe see our kids before it’s bed time.

Sorry, got emotionally sidetracked a little bit.

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

I’m with on this, driving extensively in Europe I like the higher motorway limits (120-130km), drivers don’t stick in left lane thinking they own it. and syncronized lights and roundabouts.
I dread everytime I drive in Toronto.

#82 World Traveller on 04.20.13 at 7:58 am

http://www.thestar.com/news/canada/2013/04/19/canadian_woman_held_18_months_in_moammar_gadhafi_smuggling_plot_released_from_mexican_jail.html

Why do Canadians insist on still going to Mexico? Cuba, Florida and the rest of the Carribean have sun too.

#83 PJ on 04.20.13 at 8:28 am

When it comes to Canadian Real Estate, I believe you. Global Economics and Investments, I favour Jim Rogers. Europe did not solve the problem at all, it’s just a bunch of crooked politicans who are just trying to get through the next election (but you know that), and artificial stimulus can only go for so long (you know that too).

#84 T.O. Bubble Boy on 04.20.13 at 8:36 am

Don’t blame Calvin…. I’m sure it was mostly Hobbes doing the damage.

#85 Canadian Watchdog on 04.20.13 at 8:37 am

Royal LePage Launches New Website to Make Home Buying Easier for Canadians

More eye candy, less information. Just perfect for the everyday home hunting muppet.

#86 Eaglebay - Parksville - Victoria on 04.20.13 at 9:06 am

“#47 Justin for PM !! on 04.19.13 at 11:33 pm
#32 jean pautain: Oui, Montreal is not suffering from any housing bubble problem, our home prices did not rise so much. We Quebecers do not like to speculate like all those stupd anglophones!”
____________________
There are more French Canadians living outside Quebec than in the “Belle Province”.
In Quebec you don’t have anything to speculate with.
Without Canada, your standard of living would be much lower. Go ahead, brag.

#87 Contractor on 04.20.13 at 9:21 am

“Garth, I think it is cruel of you to call Calvin an idiot. I don’t think you mean it, you are just playing a character. I think at your heart you want to help people. You shoul do that here and tell Calvin what to do with the last two hundred thousand that remains. In other words, tell us all how to take a big loss and turn it into a gain.”

I totally agree with this sentiment! It’d be kinder AND more useful.

I save the foolish five days a week. On the sixth, well… — Garth

#88 Craig on 04.20.13 at 9:22 am

I watched a show that went back and looked up the 10 largest lottery winners and in almost every instance they had blown the money, given it away, partied, etc.

Reminds me of Calvin, only difference is he inherited it.

It’s human nature to respect what you’ve earned and worked hard for versus “free” money.

That’s just the way it works….ask my kids.

#89 Julia on 04.20.13 at 9:24 am

#45 Carpe Diem on 04.19.13 at 11:30 pm

Not sure…do tell. Does the hard working smart investing brother get cancer and wish he had partied in Mexico with his brother? Or does the partying brother end up getting bailed out of a Mexican prison by his responsible brother and then go to rehab?

#90 jess on 04.20.13 at 9:42 am

the lagging effect

from the trading halt Nov 14, 2011
” exempt market”
http://business.financialpost.com/2013/02/22/first-leaside-victims-fight-for-lost-millions-but-hopes-are-dim/

=========
bankrupties
http://www.ic.gc.ca/eic/site/bsf-osb.nsf/eng/br02879.html

#91 EIT on 04.20.13 at 9:45 am

Garth, your thoughts on HFT and Dave Lauer?

#92 Toon Town Boomer on 04.20.13 at 9:46 am

The crazy thing is people actually believe the Realtors that pump these over valued homes.
Wake Up !

#93 Bottoms_Up on 04.20.13 at 9:48 am

#18 not 1st on 04.19.13 at 9:32 pm
——————————————-
Duel bombs and duel brother bombers that killed 3 and maimed 180, followed by a manhunt with grenades and 200 rounds fired in a usually peaceful, quiet suburb of Boston, and shutting down the city of Boston for a day, is not “…some sort of incident”. It’s a very signficant incident, and I am comforted by the fact that they got the bastards. Don’t mess with the USA.

#94 Bottoms_Up on 04.20.13 at 9:52 am

#32 Jean Poutain on 04.19.13 at 10:35 pm
———————————————
You’re kidding right? Higher taxes in Montreal, and still small condos go for $300,000. Something’s not right there either.

#95 Bottoms_Up on 04.20.13 at 9:53 am

#34 Ray Skunk on 04.19.13 at 10:44 pm
——————————————
Ya, I love how his $200 rent being ‘jacked’ to $300 was enough to force him out to buy a $600,000 home. Something doesn’t add up in that story?

#96 Blais on 04.20.13 at 9:54 am

#32

What are you smoking? We do have an housing bubble In Montreal and everyone is in denial! Lowest sale ever, highest inventory ever, price decline starting, lowest interest rate ever –> and still no buyers around.

http://www.montrealgazette.com/homes/Quebec+realtors+dispute+figures+showing+more+condos+sale+Montreal+than+Toronto/8257416/story.html

#97 Otto on 04.20.13 at 9:57 am

#2 Lady Gaga and #3 Peter, have a great day. I love you guys with your fuursts etc, never let a bullying AK-hole or Wayne-hole get you down. Have a great weekend!

#98 Canadian Watchdog on 04.20.13 at 10:02 am

http://www.bankruptcy-canada.ca

Wondering how Canadians are managing debt? Below is a few anonymous posts from indebted Canadians.

Question from Ontario: If I was accepted for a consumer proposal, when it comes time for renewal of my mortgage, how difficult is it to renew? Wouldn’t a financial institution refuse a mortgage based your rating as an R7? Thank you.

Question from Quebec: I am considering filing a consumer proposal, however my employment requires me to travel 3 out of 4 weeks and submit my expenses for reimbursement. They do not provide a credit card. I make 90K a year, owe 130K in credit card and LOC unsecured. Can I keep a credit card for business travel purposes if I file a consumer proposal? If not, what are my options?

Question from Ontario: Hello, prior to submitting a consumer proposal, if we sell our house to my brother and rent from him, but use the equity to keep our heads above water (pay our bills, pay our rent for our business as we are self employed), how does this affect the consumer proposal? are we still eligible?

Can my brother then sell the property? any restrictions on his equity?

Question from Ontario: I have 3 credit cards and I owe 31,000 in total. 1st credit card -16500 2nd – 10000 and 3rd -45000. I dont work at the moment. I have Investment acct with TD and one of my credit card is with TD. I am paying monthly payment but only paying minimum payment required. My question is will I be able to delare consumer proposal in my other two credit cards. Thanks

Question from Ontario: I am going to be retiring soon in Ontario and won’t have the income to make my debt payments. I am considering a consumer proposal. Would I be able to keep my house? I have a mortgage and have not missed a payment but how would a consumer proposal affect my credit rating? Assuming I can keep my house if I file it, would it affect my ability to renew my mortgage?

Question from British Columbia: Hi, I understand I will have to offer more than what my creditors will receive if I filed for bankruptcy. I have a deposit for a pre-construction condo that will be completed 3 years later. The mortgage will start in 3 years when the building is complete and is not under my name, also the deposit was from my parents. The house deed WILL be under my name. Will this deposit be counted as an asset when a consumer proposal assessment is done?

Question from Manitoba: Me and my fiancé have $40.000 in credit card and line of credit, that we accumulated due to personal reasons. I make $67.000/year she is on maternity but makes $35.000/year Would consumer proposal work for us? Or something else? We would need to re-mortgage June 2015 will this effect our mortgage? Why is the success rate of getting approved.

——

This is what's really gong on behind the scenes that no MSM is reporting on. 

#99 IvanDrago on 04.20.13 at 10:10 am

#71 … The only way it sells over 1 million is if the buyers agent is a complete idiot and doesn’t check the sale price from July 2012. And we all know that agents ARE NOT IDIOTS! :)

#100 Vinnie's' "Schticky" on 04.20.13 at 10:10 am

@#4 Duke
Geez, Duke. You missed your chance with Brad lamb! I would have mailed you a free ‘schticky’ for the clean up.

Oiiii vay

#101 a fan on 04.20.13 at 10:12 am

#206 Old Man on 04.19.13 at 8:06 pm

I went last week to Hy’s Steakhouse on a date, and had a dinner meal that cost me $300.00 with a lady, and then off to a play, and before the night was over it cost me $600.00, so ask myself whatever happened to the old days for a cheap date? I say the best first date in the world is at Tims for a donut, and a coffee, but no takers for me. :(

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

Old Man – You live in Winnipeg?

#102 noodles79 on 04.20.13 at 10:13 am

Your first character Calvin said ‘he’s single, no girlfreind and no kids’.He forgot the ‘no brains ‘part.Idiots and easy money dont mix well,the money tends to disapear but stupidity lingers!

#103 CrowdedElevatorfartz on 04.20.13 at 10:19 am

@ jean Poutine
Ahhhhh yes, Montrealers are faaaaaaaar more fiscally “superior” than the rest of us idiotic anglos.
I guess thats why Quebec has ALWAYS recieved more tax dollars from the rest of Canada than it pays out.It has always been a recieve of “equalization ” payments.
I guess that why the Charbaneau(sp?) Commission is bogged down in a months long corruption investigation ferreting out the rampant theft of public monies.
Yes, Quebecs are much smarter than the rest of us……until they get caught.

#104 jess on 04.20.13 at 10:39 am

slots

…”David Marskell, the head of Themuseum in downtown Kitchener, was the head of marketing at the Canadian National Exhibition when gambling was approved there and was horrified by what he saw.

“What happened at the CNE were nasty, nasty, down-and-dirty addicted gamblers,” Marskell said.

“We had to change the carpet at least twice because people would pee under the tables rather than lose their spot at the table to gamble. It was brutal,” Marskell said.

“We had kids out front of the entrance to the casino — six-year-olds — and the police would put the kids on their shoulder and walk through and say: ‘Show me daddy.’ ”
http://www.therecord.com/news/local/article/921492–gaming-officials-to-make-pitch-for-local-casino-at-public-meeting-tuesday

#105 Ford Prefect on 04.20.13 at 10:45 am

#4, Duke: we have always referred to people who suddenly “jut out” from the sidewalk as “flippers”. So it is now official that Brad Lamb is a flipper.

#106 Bibber on 04.20.13 at 10:48 am

#79 World Traveller on 04.20.13 at 7:58 am
http://www.thestar.com/news/canada/2013/04/19/canadian_woman_held_18_months_in_moammar_gadhafi_smuggling_plot_released_from_mexican_jail.html

Why do Canadians insist on still going to Mexico? Cuba, Florida and the rest of the Carribean have sun too.

——-

Not much of a world traveller are you? Not if you’re really asking that question. Florida is for theme parks, geriatrics, and cruise ship launches. It is no more exotic than Timmins, Ontario. Cuba on the other hand is beautiful but vacation standards are sub par – food is abysmal, airports are awful, and English is not that well propagated, so except for a small handful of staff at each resort, you better know your Espanol. Mexico is exotic, developed, and if you’re not a mobster and stick to the resort strip, you’re fine. It’s got it’s own issues – like aggressive panhandlers, but for my dime I can see why it remains the most popular tourist destination. If Cuba ever gets friendly with the US again though, I would expect it to eventually become the new Mexico.

#107 Victor V on 04.20.13 at 10:58 am

Get ready condo flippers, Canada Revenue Agency is hunting you

http://business.financialpost.com/2013/04/20/get-ready-to-pay-income-tax-on-your-condo-profit/

Let’s say your gain is $100,000 and your tax bracket is 46%. Capital gains are taxed at 50% so you would only owe $23,000 on that profit.

Not so fast! If the CRA says you are in the business of flipping condominiums, get ready to pay based on the gain being counted as income for a tax bill of twice the amount at $46,000. And, it gets worse. You could also face a fine of up to 50% of the tax owed for making a false disclosure.

With the deadline for filing taxes coming up April 30, you might want to think very carefully about how you record that housing sale you made in 2012.

Sam Papadopoulous, senior public affairs advisor-manager with CRA’s Ontario region, acknowledges that the strength of the condo sector has attracted the attention of the taxman.

“We do from time to time target some sectors more closely than others,” he said. “We look at the real estate market in general. Of course, [there is more focus], it’s a hot market.”

#108 Doug in London on 04.20.13 at 11:05 am

I also think Calvin blew a good opportunity. I can understand spending some of that 500 grand to buy a good car, but not an overpriced BMW (short for break my wallet) which will also be more costly to maintain than an American or Asian car. The rest, if properly invested, could have been an EXCELLENT head start to an early retirement. By the way, what’s wrong with renting a house for $300/month? That seems quite cheap to me, cheaper than apartments or rooms I’ve rented and far cheaper than the carrying costs (including taxes) of buying a house.

#109 Ret on 04.20.13 at 11:05 am

Calvin should have thought about how long it would have taken him to save $500,000 in after tax money before he went on his spending spree. I’ve seen this movie before and I know how it ends.

#110 Herb on 04.20.13 at 11:11 am

#33 Adrian, #78 World Traveller

there really was an essential difference driving in Canada as opposed to, say, Europe: Canadian drivers were considerate. But consideration for others was a Canadian virtue that seems not to have withstood assault by smoking men (and women.) Pity.

You certainly couldn’t hog a passing lane in Europe if you tried, because the next driver would be up your tailpipe flashing his lights.

#111 sue on 04.20.13 at 11:13 am

#76 Danielwall
Garth says a correction of around 15% nationally and then a slow melt over many years, probably a generation. 10% off is nice but your condo will be worth less the next year and the next. $400 in condo fees, mortgage interest, property taxes etc etc is almost rent. Give your head a shake.

#112 maxx on 04.20.13 at 11:19 am

If that 500K had been stuffed into GIC’s for 25 years (even at today’s pathetic rates) with 55K income and negligible rent, that inheritance would have more than doubled, and a new millionaire minted. Lord knows what a great financial advisor could achieve with alternative investment strategies. As Mr. O’Leary is wont to say: “you killed that money” with depreciating assets and debt….
Best of luck.

#113 Daisy Mae on 04.20.13 at 11:31 am

#52 Mrs. Riverside: “You shoul do that here and tell Calvin what to do with the last two hundred thousand that remains. In other words, tell us all how to take a big loss and turn it into a gain.”

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

Garth does this almost every day of the year….advising us how to manage our money.

Calvin acknowledges that he may be “out of (his) mind”. We ALL suffers losses. Doesn’t mean we have to go out and make irrational decisions to compensate.

#114 not 1st on 04.20.13 at 11:38 am

#93 Bottoms_Up on 04.20.13 at 9:48 am

Give me a break. This Boston thing is a couple of misguided kids and the U.S brings out the fricken military to take them down. Its insane and the media plays right into it and just created a dozen more like these 2 because they see the over-reaction and notoriety created out of nothing. Watch how other countries handle terrorism once.

And if you want to talk death toll, more than 3000 americans have been killed by gun violence since November. 9 million kids under the age of 5 die every year due to war, famine, disease, neglect, natural disaster. Get some perspective.

#115 maxx on 04.20.13 at 11:44 am

#83 Toon Town Boomer on 04.20.13 at 9:46 am

The crazy thing is people actually believe the Realtors that pump these over valued homes.
Wake Up !

It’s that cocksure attitude of theirs that sucks them in every time.
Realtard = Wizard of OZ.
Home Staging = Lipstick on a Pig.
Buying at today’s prices = killing money.
Good things come to those who wait.

#116 Craig on 04.20.13 at 11:53 am

DELETED

#117 Penny Henny on 04.20.13 at 11:58 am

To #26 Paul on 04.19.13 at 10:07 pm
Sold a 20 year old queen bed today. The young lady that bought it showed up in a new convertable Jag. Her Hummer was in getting fixed she said. Got $110 for the bed.
_______________________________

it was probably for the rooming house which she rents out to the basement dwellers,
or maybe she is a house stager

#118 Humpty Dumpty on 04.20.13 at 12:00 pm

4MIN News April 20, 2013:
Earthquakes,
ISON, Meteor showers
Disaster Update

http://www.youtube.com/watch?v=V_AH_jKM5Cc

#119 thiscountryis going down the toilet on 04.20.13 at 12:20 pm

Real Estate pimps use ad hominem slurs ( they must have gone to class with the RCMP and the Liberals) to cover up the truth. Anyone who questions the cash flow from HAM is ‘racist’.

http://blogs.vancouversun.com/2013/04/20/vancouver-planner-andy-yan-fights-to-prevent-a-zombie-city/

Deny, Delay and Demonize…..isn’t this always the strategy of those who want to silence opposition and bastadize the democratic process……’the other side’ are always racist…gun nuts…metal heads….red necks…..anything to stifle delay deny and demonize.

BTW….Vancouvers city planners have done the worst freaking job of developing waterfront that I have ever see…and I have seen it all….there is no worse example in the world where waterfront is set aside for dark, lonely bleak concrete and set aside for sordid nocturnal sexual assignations , criminal activity and assault.

By failing to add commercial and retail space to the zoning the ‘planners’ have in fact created zombie zones of no use to anyone except the underbelly of society.

Walk along London or Singapore vibrant brightly lit and exciting waterfront properties and get a clue as to how badly Vandumpo fails on every level.

#120 Fed-up on 04.20.13 at 12:22 pm

April is not only turning out to be a real estate bust in Canada, but proving to be a climatic write off as well. Feels like living in South Park where winter coats and scarves are worn year round. Real estate should be free on this f^*king iceberg.

#121 AK on 04.20.13 at 12:23 pm

#97 Otto on 04.20.13 at 9:57 am
“never let a bullying AK-hole or Wayne-hole get you down. Have a great weekend!”
——————————————————————–
You have no sense of humour. Very sad.

Have a good weekend.

#122 AK on 04.20.13 at 12:26 pm

“For the last few years I’ve been living in a rented house for about $200 a month. I’ve always wanted to own my own house, so when my landlord wanted to increase my rent to $300, I started to look around for some other options.”
——————————————————————-
Where can somebody rent a house for $300.00? And what kind of a house is it?
Heck, If I could rent a house for $300.00, why would I ever want to buy one.

#123 CrowdedElevatorfartz on 04.20.13 at 12:27 pm

Hey!
Jean Poutine!

Cyndy Vanier is out!
She of the SNC Lavalin subcontractor “team” that allegedly attempted to smuggle one of the worst dictators’ in the worlds “spawn” out of the country of Libya.
And she was released in the middle of the night, from a Mexican prison …..to avoid publicity par chance.

SNC Lavalin……
an excellent example of Quebec ‘superiority” in all things financial…….

#124 Mr. Anderson on 04.20.13 at 12:35 pm

#32 and #47, I held off commenting on your idiotic posts until I finished scrolling through the rest of the comments. Probably a good thing because I would have been barred from this blog. #103 crowded elevator fartz, bang on and then some.

#125 Realtors in an all out PANIC! on 04.20.13 at 12:39 pm

Lot’s of realtors posting here talking about houses selling in days….LOL. The FACT is sales ARE CRASHING by over 25% and prices are falling as well. People aren’t stupid and the fact you realtors come here to post suck garbage and obvious bs shows how desperate and scared you are. I know some realtors who haven’t made a sale in a year.

#126 Drill Baby Drill on 04.20.13 at 12:46 pm

Calgary Synopsis – the oil price differential between WTI and Alta Crude is currently $20/barrel. It was last x-mas $45+ per barrel. The differential is narrowing however the price per WTI barrel has recently dropped 7% and falling. The delay in the Keystone pipeline has now forced the bitumen producers to push into the future any planned expansion plans thereby cutting back on the contracted engineering and construction required. This in turn starts the layoff cycle in the Calgary and northern Alta energy fields. There will be a major downturn in Calgary however if there is any upset in the middle east then all bets are off because oil will instantly spike. As OPEC goes so does Alberta.

#127 AK on 04.20.13 at 1:00 pm

12 (Misguided) Commandments of Gold Bugs: Barry Ritholtz.

Barry Ritholtz on Gold

#128 Keith in Calgary on 04.20.13 at 1:18 pm

BMW = Bavarian Mercedes Wannabe

#129 TurnerNation on 04.20.13 at 1:29 pm

Uhoh. The Turner Free Stock Account (TFSA) was not designed for this:

http://www.questrade.com/trading/margin_power.aspx?pid=13-04-00-Qcom-MarginCentre-banner-MarginPower

You have a TFSA and a margin account for all the right reasons: the TFSA builds your wealth tax free; the margin gives you the buying power to seize (almost) every opportunity. Now connect the two with Margin Power: an exclusive new service from Questrade that increases your buying power by connecting your margin account with the assets in your TFSA, so you can enter new positions in your margin account without selling securities or transferring in cash.

Here’s how Margin Power works:
Link your margin account with your TFSA
Continue to trade as you normally would in both accounts; you don’t need to change your strategy
The assets in your TFSA will boost the buying power in your margin account
Leverage the assets in your TFSA to enter to positions in your margin account without selling securities or transferring in cash*
Your trading platform will show the buying power of your margin account and the increased buying power available via your TFSA

#130 Soylent Green is People on 04.20.13 at 1:29 pm

I can’t believe the Crack Shack, it’s so much worse than I was expecting. What about a note about the views or location as I assume that is what the 1+ million is for…?

…………………………

Here’s some more truthiness that Harper and his corporate masters will ignore as they continue to plunder Canada’s coffers:

After consulting his professors, Herndon signed two of them — Pollin and department chair Michael Ash — on as co-authors, and the three of them quickly put together a paper outlining their findings.

The paper cut to the core of a debate that has been dividing economists and politicians for decades.

Fans of austerity believe that governments should cut spending in order to grow their economies, while anti-austerians believe that government spending in times of economic duress can create growth and reduce unemployment, even if it increases debt in the short term.

What Herndon et al. were claiming, in essence, was that the pro-austerity movement was relying on bogus information.

http://nymag.com/daily/intelligencer/2013/04/grad-student-who-shook-global-austerity-movement.html

.

#131 maria on 04.20.13 at 1:48 pm

It’s possible that Calvin was renting a house with several roommates? That’s the only explanation I have for $200 rent…

#132 jess on 04.20.13 at 1:59 pm

minutes minus minutiae

3MT®) is a research communication competition developed by The University of Queensland.
-“effectively explain their research in three minutes in a language appropriate to an intelligent but non-specialist audience.
=====================
president obamba asks:
“Why did young men who grew up and studied here, as part of our communities and our country, resort to such violence?”
==============
emulators- the character Ghost an SAS soldier.
http://www.dailymail.co.uk/news/article-2267033/Mali-French-soldier-pictured-wearing-Call-Duty-grinning-skeleton-mask.html

About 120,000 Malians live in France – and the diaspora as a whole sends remittances back home worth between 6-10 percent of the economy.
http://www.iol.co.za/news/africa/mali-needs-aid-to-rebuild-stop-militants-1.1489151#.UUnU6Tdo549
==============
Kitimat
The real estate river gushes as black pushes to rush the yellow to turn red into green….

#133 Old Man on 04.20.13 at 2:09 pm

#130 Soylent Green is People – you just hit a buzz word with me called professors. I obtained the latest list at UofT for salaries earned by them all, and was in a state of utter shock. Now if you think some in the government are making big money, or others like an M.D. or a lawyer; this may not be the case.

#134 brainsail on 04.20.13 at 2:14 pm

The window to purchase cheap US houses might be closing soon.

“3 reasons the housing recovery may not last”

http://money.cnn.com/2013/04/18/real_estate/housing-recovery/index.html?iid=HP_LN

#135 Dr. Hoof - Hearted on 04.20.13 at 2:36 pm

Was talking to a few people this week about the closure of a local icon….a small Ma and Pa TV store here in HAMville.

It was in business since 1954 and closed in January .

A couple of many factors….the landlord wanted rent of $6500 /month for a small space (WTF)….and that service was a big part of their business.

Apparently new TV’s etc are not built to be fixed….more engineered obsolescence.

Quite sad state of affairs.

#136 Julia on 04.20.13 at 2:41 pm

#98 Canadian Watchdog on 04.20.13 at 10:02 am

These stories while shocking in many ways are not surprising. I’m sure we all know many people in these circumstances, and likely more than we know about. Do you know of stats or an estimate of how many Canadians consider declairing bankruptcy annually?

#137 frank the skank on 04.20.13 at 2:42 pm

Can anyone explain why the april mid-month sales numbers have improved compared to the last few months?

#138 Old Man on 04.20.13 at 2:56 pm

I saw Mr. Turner’s picture, and before it was too late wanted to see an old professor of mine who lived in the Annex, but he died a few months ago at age 83. I spent many a day in his office in debate about urban economics; have been to his home; we opened a few beer together; and years later we spent many a week in politics, as put a Mayor into office in Toronto.

Death is a bitch, as was too late, and yet his name is all over the net. I saw his full bio for the first time in my life, and had no idea about all his degrees, or his huge accomplishments all over North America, as he was bigger than life, and never knew this all. RIP

#139 Viva la Quebec ! on 04.20.13 at 3:24 pm

DELETED

#140 Canadian Watchdog on 04.20.13 at 3:35 pm

#136 Julia

I’m sure we all know many people in these circumstances, and likely more than we know about.

I posted this back in February regarding the OSB addressing bankruptcy and consumer proposal backlogs due to trustees (lawyers) taking their pretty ass time while charging clients hundreds of dollars per hour. Now the provinces are getting involved: Ontario to crack down on debt-settlement agencies

Stats? In 2011, there was 74.5 million credit cards in Canada. Population was 34.4 million. Chart

It should be plain obvious by now that indebted Canadians are paying off debt and mortgages with more debt. 

Who's giving them more debt? Watch the video: How Banks Control the World Through Debt-BBC Documentary

I don't think people realize how bad it already is. The government can only manipulate stats and keep a lid on bankruptcies and foreclosures for a short while, until eventually, it all implodes.

#141 Old Man on 04.20.13 at 3:37 pm

#135 Dr. Hoof – Hearted: I have been telling people for years that to establish a business you must buy the property, and never lease, as one takes control over the future. Case in point, as a landlord a few years ago challenged a large grocery chain with a lease thinking that they had them over a bag with a huge increase, and they said bye, as we are closing down so eat cake.

Now the huge corporations can do such, but for the small business owner they are between a rock and a hard place when a landlord says want double, so they must close down as well, and the same goes for the professions like Dentists, or MD’s. They are fools for not buying a property to control the future cashflow with an investment into hard assets.

It is all about taking control with ownership for the longterm, and not being held into a position with a landlord to control their cashflow.

#142 Bargains everywhere on 04.20.13 at 4:01 pm

#98 Canadian Watchdog on 04.20.13 at 10:02 am

http://www.bankruptcy-canada.ca

Wondering how Canadians are managing debt? Below is a few anonymous posts from indebted Canadians.

etc.
______

These are unbelievable!

TRANSLATION:

Hello, I’ve been completely stupid and irresponsible managing my money. Is there any way I can avoid paying back what I owe so I can continue to be stupid and irresponsible?

#143 Viva la Quebec on 04.20.13 at 4:16 pm

「漢字不滅,中國必亡。」; S:「汉字不灭,中国必亡

#144 Old Man on 04.20.13 at 4:19 pm

Now know a lot about commercial property leases so am going to educate you all with a situation that only a few people will ever know about, and this was a classic involving Canadian Tire. There was a shopping centre built, whereby, the owner offered them a 40 year lease AAA net for 3% of gross income, and in the 1990’s a new President was appointed who reviewed all.

This one store had a 12 bay auto facility with a huge space, and the dealer was paying 3 times market value, so the President approached the landlord to change the lease to become realistic, and the landlord so no way. The President told the dealer will cover your ass for relocation, and said close it down and move all stock out.

The landlord freaked out, as Canadian Tire had the lease for about another 15 years, and the President said what is your problem, as will we pay for the next 15 years 3% on nothing on gross sales, and leave it empty. This is a long story as the landlord had to buy out the lease agreement to make it null and void for about $1 million :)

#145 Appraiser on 04.20.13 at 4:22 pm

#140 Canadian Watchdog:

First, you don’t know the difference between power of attorney and power of sale. Now you display the same ignorance regarding trustees in bankruptcy and debt settlement companies.

Are you deliberatley misleading or just retarded?

#146 Dr. Hoof - Hearted on 04.20.13 at 4:29 pm

#141 Old Man on 04.20.13 at 3:37 pm

That TV business probably employed 3-4 Full Time people…trained technicians. Heard the owner is going back to drive truck.

Now you go to Big Box Store with P/T employees .

Problem is, one could own such property way back, and be in control of one’s destiny,but those days are long gone. If you had the money to buy it now, you’d have to be a millionaire already.

What I see is the perfect storm between landlords and tenants….and who is going to blink first ? I am not blaming landlords, because they have huge property tax bills to pay. Tenants are seeing the writing on the wall and saying F*ck it.

The only winners are the Gov’ts and the big boys who buy them up.

#147 Dr. Hoof - Hearted on 04.20.13 at 4:50 pm

#119 thiscountryis going down the toilet

The latest urban planning “flavour of the day” is our demise.

Metro Van did a Regional Planning Strategy till 2041. In essence, it locked Metros 23 member Local Gov’ts into all sorts of densities and zonings. That should never happen…the flexibility of say 5 year OCPs is gone.

This changed zonings over night and ” Highest and Best Uses made many small ma and pa commercial strips into future Hi Rise sights.

For example. Cambie Corridor from False Creek to Marine Drive will be Hi density residential.

This bad idea had an idea to form ” nodes “, whereby cluster of hi rises say in a city block will have ground floor retail space so everything is close by , less vehicle use.and keeps Al Gore types happy.

Well here in Richmond, its a disaster, as the ground floor retail space in majority of these Hi Rises is largely vacant, though the new high rise displaced long established businesses.

This imposed planning model till 2041 will simply be a disaster, to the point one begins to suspect that it was a master plan to herd us all into subservience and poverty…good old communist system via the economic holomodor back door method.

#148 retired WI Boomer on 04.20.13 at 4:50 pm

Love the picture. The Post was mediocre. Not that I’m a critic here, just my opinion. So we have a dumb kid with the dead daddy’s dough gone wild. Seen that movie before, it sucked then too.

Trust the dog. Their loyalty is beyond reproach.

Trust your instincts too. If you really listen, they’ll tell you if you’re full of it. Most of us are, we like to believe our little lies. “It’ll get better with time.” Crapola dear ones!!

Cheese & Wine maybe, but few other things get better with time, least of all people. They just get older, and dam few get better with age.

That picture, our collective tomorrows – be Aware !!

#149 Onthesidelines on 04.20.13 at 4:54 pm

“BMW = Bavarian Mercedes Wannabe”
or
as they say in Africa: Break My Window.

Also, for all you world travellers complaining about Toronto drivers: You ain’t seen nothin till you’ve driven in the Middle East, grasshoppers.

#150 brunette on 04.20.13 at 4:56 pm

#12 old man

I love you. Your posts are always so kind and honest. Thank-you.

#151 Canadian Watchdog on 04.20.13 at 5:04 pm

#145 Appraiser

You came back in another attempt to discredit me? Now that's pathetic.

My point is whether it's mortgage insurers, trustees, lawyers, debt agencies, credit counselors or whatever, they're all abusing indebted consumers, and more so consumers who don't speak or read English very well.

(Think CMHC threatening negotiating workouts for longer-terms at higher premiums on assets they know will depreciate for many many years.)

BTW, did you notice CBA's 2012 revisions to arrears? That's right. They went back and revised 2012 data upwards  so 2013 looks just fine. I can't wait until banks' REO gets so overloaded they'll have no choice but to come clean and disclose all their toxic assets.

Only a well-trained muppet like you believes bank and government statistics at face value. Get real.

#152 Old Man on 04.20.13 at 5:12 pm

Now will tell you another story in Toronto, whereby my friend made $1 million, back in the 1970’s; forget the name of this hotel but was on Carlton just east of Yonge. He took a longterm lease for a nightclub at $2.00 a sq. ft., as went there often for free drinks; food and women, as never had to pay a bill. Now that hotel was bought out, and they had to pay him $1 million to get rid of his lease agreement. In Toronto he was known as Sammy, and he moved into a bank tower complex with an exclusive bar operation.

#153 Richard in Kelowna on 04.20.13 at 5:14 pm

Garth, I understand there was a huge demand got gold coins and bars the past week after gold plunged. Long line ups and prices much higher than spot. Do you know what’s causing this interest in the metals? Are these folks misinformed?

There were no lineups in Toronto or Vancouver. — Garth

#154 Spinner on 04.20.13 at 5:29 pm

What a heartwarming pic!

#155 Smoking Man on 04.20.13 at 5:30 pm

I let the emoitons get the better of me for forex this week. Sold the cameltoe when I should have put in a buy – and bought the batman when I should have sold.

Kids, Dont let emotions get in the way of a trading system.

Time to pound back a scotch and rethink my positions for next week.

#156 Canadian Watchdog on 04.20.13 at 5:35 pm

#145 Appraiser

Hey App. Remember when you said Toronto was unstoppable and there was a short supply of new homes? Ya, those were the good old days.

BRAND NEW HOMES FORECLOSING IN BULK

Shhh, don't tell the blog which homes are owned by CMHC. It's like when a cook drops your streak on the floor and serves it to you nice and fresh afterwards. If you didn't see it, it didn't happen!

#157 TurnerNation on 04.20.13 at 5:37 pm

Happened to see the Toronto Star’s glossy magazine “Addresses” today.
flipped though it for a laugh. Reminded me of a January 2000 ‘Best Tech Stock Picks’ dreadful.
Let’s see:
-“Estate Houses” in some godforsaken 905 field, starting at 1.25 mill?
– Couple in their 50s, all but one kid’s gone, in a 4600sq foot McMansion. Really, for two people?
Hope they have enough for years of taxation, increases, cleaning, utilities. And stair lifts.

And since this blog’s twice mentioned Boston, a comment only on the media – as I do not watch tee-vee nor read the ‘newz’.
I was sickened to see the same front page pic carried by two national and one city paper on the same day. Repeaters or reporters? Shock and awe was their goal.

(I’ve long maintained that Iraq and Afghan were simply tests for what’s to come here. And we saw it. An entire city encircled, shut down, door-to-door searches. Helicopters, armoured vehicles, military grade weapons. Sound familiar? Got Falluja? Only Drones were missing). The movies have primed us. Now sit back and watch).

#158 CrowdedElevatorfartz on 04.20.13 at 5:38 pm

@#143 Viva la Quebec

Your statement:

「漢字不滅,中國必亡。」; S:「汉字不灭,中国必亡

++++++++++++++++++++++++++++++++++++

Ahhhhh
I see you’ve been to Greater Vancouver BC where French is essentially nonexistant ( unless you’re employed by the federal govt.) and NOT on most bank machines and ( more to the point) increasingly irrelevant in the rest of Canada (excluding Quebec).

#159 Bill Gable on 04.20.13 at 5:50 pm

How goeth #Vancouver?

“Metro Vancouver may be developing into a “resort economy,” Architect David Yan says, in which many people who own property in Metro Vancouver for the most part do not live here.

This creates a scenario of rootlessness, in which many of those who work in the city can’t afford to stay or especially to raise families, says Yan, who teaches urban planning at the University of B.C. and researches for Vancouver’s internationally renowned Bing Thom Architects.

What can Metro Vancouver residents do about what Yan calls a widespread “insecurity of belonging?”

High real estate and living costs, plus tepid wages, means Vancouver is losing talented young people to more affordable places such as Calgary and New York, Yan says. Local businesses, universities and medical centres are unable to attract top employees.”

Link http://tinyurl.com/cy4kdsy

#160 Old Man on 04.20.13 at 5:56 pm

#149 brunette – I appreciate your kind comments, but what is love? Now, am a poor man and my first date must take place at Tims for a coffee and a donut, so do not get many takers. Oh well as am booking a week at the Clevelandshouse this summer, and hope this can all be done on my credit card.

#161 Tom Vu on 04.20.13 at 5:58 pm

Just remember:

Cui Bono is not related to Sonny, or Cher…. or that Irish singer.

#162 Tom Vu on 04.20.13 at 6:10 pm

#10 Bramptononfire on 04.19.13 at 9:10 pm

Well Brampton is on fire it seems.

===========

Need more matches and gas ?

Please advise as most places East of Rockies need renovation via Enola Gay payload.

Also: Almost time for some a-holez to regale us with more Shih Tzu about how all the houses in their area has sold with multiple bid prices over listing price.

#163 Patiently Waiting on 04.20.13 at 6:17 pm

Just a tip for any potential home buyers. If you are working with a realtor ask him to show you the listings “Realtor Remarks” on any listings he/she shows you as they can often reveal some very important information. Here are some examples in the link below that reveal details such as commission bonuses that as a potential buyer you would want to know. Some oe of the listings in the attcahed link reveal commission bonuses of up to $75,000 on top of the regular commission. Other comments such as “motivated sellers” are also common to pick up in the realtor remarks.

http://mlslink.mlxchange.com/DotNet/Pub/EmailView.aspx?r=1845543446&s=BRC&t=BRC

Cheers

pw

#164 joe calgary on 04.20.13 at 6:41 pm

SFH sales are up almost 8% y/y in Calgary, and listings are down keeping prices high. Nothing is on the horizon for Calgary. And with unemployement being so low maybe Calgary really is different.

“Single family, year-over-year sales growth declined by six per cent in March”: Calgary Real Estate Board.– Garth

#165 Old Man on 04.20.13 at 6:44 pm

Do not trash Cher as the best show I have ever seen in my life was in 2002, and my ticket cost me $100. Now she had a huge cost for overhead with 34 vehicles that were running on the road all over North America for her gig, as her stand in gal was Cyndi Lauper for the warm up. Cher is a very wealthy woman who I know, and loved when she said to her competition, and will quote her. She said bitches just try to match me with in life with this performance on the road.

#166 TurnerNation on 04.20.13 at 6:46 pm

“I know the secret of making the average American believe anything I want him to. Just let me control television…. You put something on the television and it becomes reality. If the world outside the TV set contradicts the images, people start trying to change the world to make it like the TV set images….” Hal Becker, media export and management consultant, the Futures Group, in an interview in 1981.

(And 20 people “changed the world forever”, we were told.). This time two.

#167 The American on 04.20.13 at 7:22 pm

At #57: VanPerfecto, America will not be Cyprussed. There’s a lot at stake for the global economy with the USD still firmly/solidly in place as the reserve currency. It will be that way until we die. And probably until our children and children’s children die.

#168 Richard in Kelowna on 04.20.13 at 7:27 pm

“Garth, I understand there was a huge demand for gold coins and bars the past week after gold plunged. Long line ups and prices much higher than spot. Do you know what’s causing this interest in the metals? Are these folks misinformed?

There were no lineups in Toronto or Vancouver. — Garth”

You’re probably right. Don’t think this dude has all the facts..

http://www.paulcraigroberts.org/2013/04/16/update-to-the-update-the-attack-on-gold-paul-craig-roberts/

#169 AK on 04.20.13 at 7:29 pm

“Next post (April 21, 6 pm):”
——————————————————————–
I am sure that there will be a stampede for “Firsts”. :-)

#170 The American on 04.20.13 at 7:31 pm

At #114: Not 1st (and for obvious reasons), The U.S. military was necessary to capture/kill these two brothers. You’re a freaking MORON. It isn’t about the two brothers at all. If you read the paper (which I’d be surprised if you encompass that intelligence) or watch the news, you’d know the FBI has also arrested an additional 3 in connection with these bombings. Additionally, it isn’t like this was some firecracker that went off. 3 people killed, deliberately, over 180 injured in a public setting. Because there was evidence of greater bomb-making capability and probably cause there were a significant additional amount of homemade bombs waiting (and clearly there were), the military was necessary, you idiot. It isn’t like they only made a couple of bombs, and that was it. Ugh, it must be PAINFUL to be so stupid. I’m liberal, but I don’t allow my liberal beliefs to blind me from reality. Unfortunately, you do.

SWAT teams, FBI, Military, Police Force, and additional authority are all also called in in any incident where a mass shooting takes place. This was not handled inappropriately as CLEARLY the two brother, as well as others, have been either captured or killed. This particular story isn’t over, either. Heightening public awareness is key to the capture and the public’s overall safety.

#171 mochimac @ save. spend. splurge. on 04.20.13 at 7:42 pm

Whenever you get any kind of money be it a bonus, inheritance, lottery winning… you should wait a year before deciding what to do with it.

Impulse is the devil.

This is sound advice I have heard from people who have had windfalls and it’s something I always keep in mind.

I don’t personally know what it feels like to have $500K just given to me, but I have seen someone who has had it, and has burned through it by gambling it, etc.

We’re all as rich and as free as we want to be.

#172 mac on 04.20.13 at 7:55 pm

Um, you say what’s happening in Whistler and Richmond will also be infecting Kits and North Van as 2013 rolls out. The shock will be immense.

You say “shock” but notice you don’t spell out the “price decline”. Is that you being a splinter-lovin’ fence sitter?

#173 Smoking Man on 04.20.13 at 8:01 pm

Increadable, I created a fictional character, pushing the boundaries of people’s belief system…. Have a blog for some comedy funny pics…

Crazy traffic on blog, with fan mail and hate mail.

Guys smoking man is not real… Enough of the hate mail.. Fan mail is acceptable. But how can anyone believe my crazy shut is real..

Humans are scary…

Mind you imposter ratio way up on GF….. No Link = Imposter.

#174 Timbo on 04.20.13 at 8:11 pm

http://media.chicagobooth.edu/mediasite/Viewer/?peid=f15d95d054e8442ab0cc1c60321383101d

Video
Exploring Japan’s debt and how bad it truly is…..
ugggglllyyyy.

#175 Mississauga on 04.20.13 at 8:47 pm

Calvin. You’re an idiot

#176 Timbo on 04.20.13 at 9:25 pm

http://www.bloomberg.com/video/bass-sees-beginning-of-the-end-for-japanese-bonds-a8rY8kSZQlStZey5hO2kug.html

Video with Kyle Bass. Japan is a train wreck and rates in the US are going nowhere fast.

http://in.reuters.com/article/2013/04/19/us-markets-forex-idINBRE93E00320130419

“We definitely see the yen lower in the next couple of months due to this massive stimulus. I see the dollar going to 110 yen by the end of the year,” she said.”

it really means “day of reckoning a coming”

#177 AACI Home-dog on 04.20.13 at 9:35 pm

160…old man…
Mmmmm…doughnuts….
Yes, that photo can bring a tear to a fellow with a glass eye, for sure….
PS, how old are you, old man ?

#178 CrowdedElevatorfartz on 04.20.13 at 9:50 pm

Somewhat belated but……..
Nice picture Garth.
Reminds me of what really matters.

#179 Calgary Car Guy on 04.20.13 at 10:18 pm

#122 AK said
Where can somebody rent a house for $300.00? And what kind of a house is it?
Heck, If I could rent a house for $300.00, why would I ever want to buy one.
——————————————————————
Actually, I have spent over four years now living in a renovated 40 year old mobile home for 250.00 a month. The really nice part is that it is on a large lot on the shore of a popular lake just outside of Calgary. My brothers and I originally began renting this property back in 1993 for summer fun. To this day I have never met the landlord. If he showed up at my door I wouldn’t know who he was. I talk to him once a year by phone and mail him a couple of cheques. Being able to have this deal since my divorce has really saved my butt for sure since I pay alimony and child support. However, he has told me he wants to sell the property soon. I recently purchased a really nice used top-of-the-line Monaco Signature Series 40 foot diesel pusher motorcoach to live in. 1997 model. Was 400,000 new. Paid 47900 cash. A rolling condo. Another customer of mine has 112 acres of property out west of the city near Bragg Creek with good power hook-up and a septic field. Rent will be 500.00 a month. My new landlord and I want to do something with the property to create revenue for both of us. I’m totally single and highly value my freedom and independence. This fits the bill for me but I know it’s not for everybody. A few years in the future (post-alimony) I plan to only work 6 months of the year. Then I will park the coach with all my possessions in a secure RV storage lot and spend the winters in SE Asia–probably Thailand. My point is “Think out-of-the-box” people.

#180 jd on 04.20.13 at 10:50 pm

Easier to see clearly when looking from outside in:

http://www.huffingtonpost.ca/2013/04/20/canada-housing-crash-economy-ben-rabidoux_n_3123312.html?utm_hp_ref=vancouver-housing

#181 Dr. Wayne on 04.20.13 at 10:51 pm

#97 Otto on 04.20.13 at 9:57 am

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

This guy needs some ‘serious’ therapy …

#182 new on 04.20.13 at 11:10 pm

#156Canadian Watchdog

You know who’s the greater fool here? It’s not the assumed bankrupted buyer, it’s the bank and CMHC who had paid out one and a half to two millions on a newly-built mcmansion which was not even worth $500K just a year or 2 ago. Some goofily aroused foreign well-off students might splash a million on some brand-name high-rise apartment, but definitely not that kind, and nobody or no Chinese would be that stupid to splash that kind of money for one or 2 duplexes at Scarborough. It was a scheme the original owner to cash out with the help of some phantom buyers, and banks / CMHC / our government / taxpayers just nailed for the price tag.

When it comes to public money and the goal keepers have an axe to grind, Canadians as a whole are helpless!

#183 AACI Home-dog on 04.20.13 at 11:27 pm

#137…frank…
Could it be April and September are probably the busiest months for real estate sales ?

#184 AACI Home-dog on 04.20.13 at 11:28 pm

Oops…damn b berry

#185 Dr. Hoof - Hearted on 04.20.13 at 11:32 pm

Well….now Dr Waynker knows when the next post is gonna be posted.

………..but the a$$hole will still be laaassszzzzzzttttttt !!

ahahahaha

#186 Old Man on 04.20.13 at 11:34 pm

#179 Calgary Car Guy – do not go to Thailand, but hit the capital city in Cambodia as that is where the action is, and they have an ex-patriot website on the net, as most there speak english.

#187 Dr. Wayne on 04.21.13 at 12:05 am

#185 Dr. Hoof – Hearted

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

Once an a$$hole always and a$$hole … and he keeps on proving it day after day …

#188 Carpe Diem on 04.21.13 at 12:19 am

#89 Julia

Actually, it doesn’t turn that bad … relatively!

The eldest brother ends up CEO of my company. We hire the Mexico party dude for technical sales and he does very well!

The eldest is the winner here. But the younger dude makes it ok as well.

But the detour sure cost him. He could have kept working or working less in Canada and invest his father’s legacy. Had he done that, he’s be the VP Sales versus technical sales.

I guess I could have done better myself had I not partied hard in my 20’s …. but I sure had fun!

Now that I have kids, I sure hold duty and legacy in mind.

#189 gold bug on 04.21.13 at 12:26 am

DELETED

#190 Dr. Hoof-Hearted on 04.21.13 at 12:56 am

#172 mac on 04.20.13 at 7:55 pm

Um, you say what’s happening in Whistler and Richmond will also be infecting Kits and North Van as 2013 rolls out. The shock will be immense.

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

Problem with Kits and North Van is they are still quite WASP-y enclaves…

Joke:
How do you get to North Van?
Follow the Volvo Station Wagon .

They will be the last ones to realize what the rest of us are seeing.

#191 Bottoms_Up on 04.21.13 at 1:28 am

#79 Daniel Wall on 04.20.13 at 6:42 am
—————————————–
I hate to say it but Ottawa is a fairly robust market (lots of good paying jobs) and if that condo that you have your eye on is now priced under current market value (and if it’s the cheapest unit in the building) it will probably sell like a hot cake.

It never hurts to put in a lower bid…you never know. But from my experience in the Ottawa market, properties that are priced right sell pretty quickly.

#192 Van guy on 04.21.13 at 2:41 am

So you’re calling a BMW M3 a chick car? I doing think many ladies can handle 400hp and 0-100km in 4 seconds. This is true German engineering at its best! American cars are just junk, and Japanese cars are more chickish.

#193 Waterloo Resident on 04.21.13 at 4:51 am

Quote: (“My name is Calvin ——-
I currently make about $55k a year, working multiple jobs. I’m single, no girlfriend and no kids.”)

NOW THAT IS BELIEVABLE!
Thanks for finally placing in a profile of a guy who is more like the NORM these days!

As for him being single, with no girlfriend: SMART MOVE! Girlfriends are nothing but money pits; they suck all your savings and don’t give back anything in return. If you want love and affection; get a pet cat (or dog). If you want sex; you are NOT GOING TO GET ANY after 4 years of marriage, so save your divorce nightmare future and go see a ‘professional’ lady a few times a month instead; more variety, no worries about losing half of your stuff in a divorce, and no having to pay half of your monthly payments to a woman who you are not even seeing anymore (in Alimony).

Divorce and Alimony: Just imagine if you sold your car, but now a court orders you to keep paying for the car payments and insurance payments, for the next 20 years, even though you don’t have the benefit of enjoying that car anymore: THAT IS ALIMONY, and that is what marriage — then divorce, is like these days.

#194 Appraiser on 04.21.13 at 7:44 am

#151 Canadian Watchdog:

DELETED

#195 Axxman on 04.21.13 at 8:18 am

On the southern Mississauga front, Mineola specifically, speckers are openly bleeding to death. This market went illiquid months ago. As several new $2 million+ have been added to the pile this week, while similar places continue stew in their own juices. Speck builders are 1. delaying finishing homes so as not to add to the pile but a quick drive thru Mineola west makes this obvious, 2. desperately trying to sell off their inventory of teardowns for which they overpaid and are now stuck, and 3. adding to the MLS postings of cartoon pictures of homes they would be happy to build for you tomorrow if only you would hand them a pile of cash today. At the same time a couple of locals who are having upgrades built but these have stopped construction because they can’t sell their current homes. As an aside, I think doctors think they make more money than they really do. Certainly they don’t make enough to carry two illiquid multimillion dollar monster homes. Hard lessons on the horizon.

#196 Calgary Car Guy on 04.21.13 at 8:53 am

At #191
HaHa. I agree with most of what you said although I know you have a solid history of sarcasm on this blog. I was married for 15 years but it felt like 20 with the wind chill!

#197 jjpetes on 04.21.13 at 9:32 am

GArth, you made my day “Calvin, you’re an idiot” -> Best…response…ever

I’ll add Mrs. Riverview the above commenter “Mrs. Riverview, your an idiot”

#198 Eaglebay - Parksville - Victoria on 04.21.13 at 9:38 am

#170 The American on 04.20.13 at 7:31 pm

In the name of ‘safety’.
I’ll choose freedom over safety anytime.
Everybody knows what the problem is and what to do about it.
Political correctness, mind control, doesn’t allow it.
Everywhere you go in the USA there is security personnel and surveyance equipment keeping an eye on you.
It will only get worse.
So much for life, liberty and the pursuit of happiness.

#199 IvanDrago on 04.21.13 at 9:48 am

you’re gonna see more of this soon folks…

http://www.theglobeandmail.com/globe-investor/personal-finance/mortgages/home-buying/a-former-homeowner-now-a-renter-one-year-later-and-still-loving-it/article11360326/

#200 AK on 04.21.13 at 10:12 am

#191 Waterloo Resident on 04.21.13 at 4:51 am
“Girlfriends are nothing but money pits; they suck all your savings and don’t give back anything in return. ”
——————————————————————–
LOL. There is no way I would argue that. :-)

#201 Calgary Car Guy on 04.21.13 at 10:46 am

Obviously my post at 196 should now be referring to #193

#202 David McDonald on 04.21.13 at 11:14 am

#128 Keith in Calgary: BMW = Bavarian Mercedes Wannabe

#149 Onthesidelines:
as they say in Africa: Break My Window.

In Beijing a feisty young lady guiding us through a hutong declared: BMW= Be My Wife

#203 jess on 04.21.13 at 11:32 am

sauget mansion window dressing ?

no answers and no help – Sauget superfund site
investigate take pictures etc and you could end up on terrorist watch list under homeland security!

the film “in my backyard ” historic look back at industrial town especially sauget (east. st. louis)
where 2 superfund sites are located
nuisance laws cause and effect

http://en.wikipedia.org/wiki/Linda_Fisher
http://en.wikipedia.org/wiki/William_Ruckelshaus

#204 jess on 04.21.13 at 11:34 am

in my backyard
history of sauget
http://www.esoterictube.com/in-our-backyard-a-monsanto-introspective.html

#205 Dwilly on 04.21.13 at 11:35 am

I have to ask, what’s with the sudden barage of moving, emotional images? Usually I come here to see some fat chick on a tiny chair, or a dude with his ass crack hanging out. But all of a sudden, there’s all these pictures that actually make me have some feeling! Maybe Garth is getting sappy in old age?

#206 MarcFromOttawa on 04.21.13 at 11:59 am

Garth,

What do you think of Marc Faber’s portfolio?

25% Real Estate
25% Precious Metals
25% Cash
25% Stocks and/or Small Business

Not for me. — Garth

#207 Dr. Hoof - Hearted on 04.21.13 at 12:12 pm

#187 Dr. Wayne on 04.21.13 at 12:05 am

#185 Dr. Hoof – Hearted

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

Once an a$$hole always and a$$hole … and he keeps on proving it day after day …

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

The ambiguity in identifying the subject to which you refer can be interpreted as I keep proving 24/7 that YOU are a 24/7 a$$hole. That’s fact, but still a poor attempt at debate on your part. Tsk Tsk.

A List of Things You Don’t Want to Hear from Dr Waynker During Surgery:

—-Oops!
—Has anyone seen my watch?
—Come back with that! Bad Dog!
—Wait a minute, if this is his spleen, then what’s that?
—Hand me that…uh…that uh…..thingy
—What do you mean he wasn’t in for a sex change!
—Damn, there go the lights again…
—Everybody stand back! I lost my contact lens!
—Well folks, this will be an experiment for all of us.
—What do you mean, he’s not insured?
—Let’s hurry, I don’t want to miss “Bay Watch”
—What do you mean “You want a divorce”!
—FIRE! FIRE! Everyone get out!

#208 live within your means on 04.21.13 at 12:18 pm

#81 World Traveller on 04.20.13 at 7:57 am

I’m with on this, driving extensively in Europe I like the higher motorway limits (120-130km), drivers don’t stick in left lane thinking they own it. and syncronized lights and roundabouts.
……………

So true. Speed limit on toll highways are 130 in France. There are now speed cameras everywhere & fines are stiff if you exceed the limit. On the autobahn there are areas with no speed limit. If you don’t have a real peppy car you really have to be careful getting into a passing late because before you know it a Mercedes or equivalent is on your tail. Last time hubby drove it, I fell asleep for awhile after a long flight. When I woke up he told me he drove at 180 for awhile. As a passenger I get spooked at times as I’ve seen some bad accidents due to speed. I no longer take the wheel in Europe.

#209 Shawn on 04.21.13 at 12:37 pm

What’s the Sad Part?

Dr. Hoof Hearted at 135 says:

Was talking to a few people this week about the closure of a local icon….a small Ma and Pa TV store here in HAMville.

It was in business since 1954 and closed in January .

A couple of many factors….the landlord wanted rent of $6500 /month for a small space (WTF)….and that service was a big part of their business.

Apparently new TV’s etc are not built to be fixed….more engineered obsolescence.

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

Okay so some people in 1954 were smart enough to open a TV store back when TV’s were just gaining widespread adoption. Got in fairly early on a new consumer product. It involved sales and after-sales service great. An excellent business that apparently went on to prosper for some decades.

Fast forward 60 years and the bone-headed successors to the our smart 1954 entrepreneur still think it is 1954!

Instead of having gravitated to new consumer products like becoming a cell phone store or computer store they are still selling TV’s!

These days, big box chain stores are most efficient at distributing TV’s to the masses. TV’s today are incredibly cheaper than in 1954. (You work a LOT less hours to buy a TV than in 1954). And they don’t need to be serviced. They do get obsolescent.

There is no sadness in that.

The sadness here is a an entrepreneurial business from 1954 was passed on to less capable owners who failed to change with the times.

This is creative destruction at its best. That retail spot is best freed up for other uses.

Yes, we can feel compassion for the owners and employees but ultimately things change and the population is better off for it. It’s really sad though that that shop did not change with the times.

#210 Uwinsome on 04.21.13 at 12:47 pm

Sales for homes in Victoria are way up this April.Best in 3 years. Gee, maybe the housing market ain’t dead yet. This info was taken from House Hunt Victoria website:

Saturday, April 20, 2013

Gangbusters
It’s not only the comments that are piling up, it’s also the sales these days. I’ve got 27 SFH sales under $550k and 35 from $550 to $900k, which is the most I’ve seen since I’ve started tracking 2-3 years ago.

No sooner do I write an update about the low sales do they turn around.

#211 blok existentialist on 04.21.13 at 12:52 pm

That’s a great picture, but I just can’t take the sadness.
http://www.youtube.com/watch?v=GbycvPwr1Wg

#212 Blacksheep on 04.21.13 at 1:29 pm

The American 170,

I read your posts for an American perspective. Unfortunately like the proverbial boiling frog, the inside the pot perspective, can limit ones ability to sense rapidly changing conditions.

Goole news reads:

Tsarnaev in: “very serious” condition, “and we don’t know if we’ll ever be able to question the individual.

Will this young man, ever get due process?
Will this young man, be alive in 24 hours?

#213 dead serious on 04.21.13 at 1:58 pm

Hello Garth,

I was the first one to use the name patiently waiting.

I mean what is say.

why don’t you stand for public represenation. We now have Mr. Trudeau as the leader of the Liberals but trust me The Conservatives will blow them away. You know where I am going with this and so should you.

#214 Devore on 04.21.13 at 2:15 pm

#191 Bottoms_Up

But from my experience in the Ottawa market, properties that are priced right sell pretty quickly.

Sorry to break it to you, but this is not unique to Ottawa. Properties that are priced right sell pretty quickly anywhere. That’s kind of the definition.

#215 The Prophet Elijah on 04.21.13 at 2:51 pm

#68 DEDq on 04.20.13 at 2:47 am

#38The Prophet Elijah

Alberta oil is only going for $50ish, that’s the problem.

Wrong … it is $74 today. Prices have been improving for the last 3 months.

http://www.psac.ca/firstenergy/..
—————————————————-
Dead cat bounce.

#216 The Prophet Elijah on 04.21.13 at 2:58 pm

#193 Waterloo Resident on 04.21.13 at 4:51 am

Quote: (“My name is Calvin ——-
I currently make about $55k a year, working multiple jobs. I’m single, no girlfriend and no kids.”)

NOW THAT IS BELIEVABLE!
Thanks for finally placing in a profile of a guy who is more like the NORM these days!

As for him being single, with no girlfriend: SMART MOVE! Girlfriends are nothing but money pits; they suck all your savings and don’t give back anything in return. If you want love and affection; get a pet cat (or dog). If you want sex; you are NOT GOING TO GET ANY after 4 years of marriage, so save your divorce nightmare future and go see a ‘professional’ lady a few times a month instead; more variety, no worries about losing half of your stuff in a divorce, and no having to pay half of your monthly payments to a woman who you are not even seeing anymore (in Alimony).

Divorce and Alimony: Just imagine if you sold your car, but now a court orders you to keep paying for the car payments and insurance payments, for the next 20 years, even though you don’t have the benefit of enjoying that car anymore: THAT IS ALIMONY, and that is what marriage — then divorce, is like these days.
——————————————————-
Thanks for the grand chuckle! Not just the girlfriend/marriage/divorce part, but the fact that Calvin’s income and status are about right. Unlike other’s who come here to brag about how much they apparently make.

#217 Dr. Hoof - Hearted on 04.21.13 at 3:07 pm

#209 Shawn on 04.21.13 at 12:37 pm

What’s the Sad Part?

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

Hmmm

Missing the point.

I forgot to mention this store could compete with the Big Box stores..they are affiliated with a large wholesale network and would match any price.

However, for what they had on display was only 3 name brands,(2 of which are Japanese) as they were tired of selling junk. Servicing what they sold also gave the insight.

They were irrelevant to the current market ?

Perhaps..but what is that market ?

Anyway…IMHO,…. the landlord is hooped…out a lot of rent, I see more vacancies all the time.

So, what one is left with is Big Box stores. with turnover of PT sales staff, who will try to up -sale you, quality will
get worse…you will be buying TV’s more often cause no one can/will fix them…with all the environmental fees added…blah blah blah.

Recently , had to get a touch screen on our kids cell phone fixed. You know how hard it was to find a repair facility ? That end up a small Ma and Pa outfit. No dealers were willing or able.

Its getting to be a one – way door of planned obsolescence

The Brave New World

#218 jess on 04.21.13 at 3:09 pm

drug testing the poor for welfare well what about those high rollers on wall street?

Kansas is the latest state to decide poor people should be treated like criminals. … will subject welfare and unemployment recipients to mandatory drug tests. … Kansas joins a list of eight states that have recently imposed laws to drug tests .

http://www.dailykos.com/story/2013/02/08/1185554/-Drug-tests-for-welfare-bills-come-to-three-more-states

http://www.businessinsider.com/wall-street-cocaine-stories-2012-7?op=1

Canadian hedge funder Matthew MacIssac
https://secure.globeadvisor.com/servlet/ArticleNews/story/gam/20080331/RRABBIT31

#219 TurnerNation on 04.21.13 at 3:16 pm

This month’s Toronto Life mag reporting that F and the Ford Bros. and Ford Sr. are close, even going on a trip together.
That’s all we need to know.

#220 AK on 04.21.13 at 3:16 pm

#206 MarcFromOttawa on 04.21.13 at 11:59 am
“What do you think of Marc Faber’s portfolio?

25% Precious Metals”
——————————————————————–

I am curious as to how would you value the precious metals portion of the portfolio.
Have you ever tried selling physical Gold on the market?

#221 45north on 04.21.13 at 3:18 pm

Shawn: These days, big box chain stores are most efficient at distributing TV’s to the masses. TV’s today are incredibly cheaper than in 1954. (You work a LOT less hours to buy a TV than in 1954). And they don’t need to be serviced. They do get obsolescent.

in 1954 TVs cost $500! $500 was a lot of money. vacuum tubes wore out and had to be replaced. All of this to get 3 or 4 channels, low def black and white. TVs today are amazing, high def is just amazing.

#222 TurnerNation on 04.21.13 at 3:31 pm

Whistler: know someone who sold their townhouse in early 00s. The same units are selling for the same prices, today!
Yet it’s had 10 years of unabated tax increases. And strata fees. These units are 40 yrs old time for a refresh anyway. No money to be made there.

#223 TurnerNation on 04.21.13 at 3:39 pm

Gotta hand it to our elite rulers. A scared populace, demanding even greater intrusion and control. Google search: Iraq + Biometric checkpoints.
All tested and ready for rollout. Like those airport body scanners which were gathering dust on the showroom floors. There’s big business. Just sayin;
Those 2 guys gained nothing.

http://www.nytimes.com/2011/07/14/world/asia/14identity.html?pagewanted=all&_r=0

“To Track Militants, U.S. Has System That Never Forgets a Face”
As Smoking man said, the tee-vee shows have primed, for “domestic” occurances.

#224 Dr. Hoof - Hearted on 04.21.13 at 3:42 pm

#221 45north on 04.21.13 at 3:18 pm

Shawn: These days, big box chain stores are most efficient at distributing TV’s to the masses. TV’s today are incredibly cheaper than in 1954. (You work a LOT less hours to buy a TV than in 1954). And they don’t need to be serviced. They do get obsolescent.

in 1954 TVs cost $500! $500 was a lot of money. vacuum tubes wore out and had to be replaced. All of this to get 3 or 4 channels, low def black and white. TVs today are amazing, high def is just amazing.

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

Yep….

Hey…..I have a 500 channel universe…wait till 3-D porn channel is added. Keep Windex nearby.

Meanwhile..back at the Brad Lamb condo line -up…

” Step right up Free TV with purchase of condo you can’t afford ….buy now and get Free TV or be prostituted out forever ” !!!

#225 Ralph Cramdown on 04.21.13 at 3:52 pm

#214 Devore — “But from my experience in the Ottawa market, properties that are priced right sell pretty quickly.”

Sorry to break it to you, but this is not unique to Ottawa. Properties that are priced right sell pretty quickly anywhere. That’s kind of the definition.

Not all of us here are young and naive enough to believe this. For a standard property with no defects in a hot market, it’s generally true. But in a slow or rural market, or with an unusual or commercial property, exposure of 180 days to 2 years might not be unreasonable, and listening to some twerp agent whose mantra is to cut the price every 30 days until sold will just mean potentially leaving lots of money on the table.

Think about: Is real estate usually considered a liquid investment? No. But if a sale was virtually guaranteed in thirty days for correct pricing, that would be pretty liquid. Agents who’ve only worked bull markets and have built their lifestyles around that might not be the best ones to use in slack markets — their entire careers have been spent in one where “if it doesn’t sell quickly, it’s priced too high” was actually true.

#226 Victoria -the Original on 04.21.13 at 4:16 pm

So April sales are the best Victoria has seen in 3 years. I am trying to convince my husband to sell as I type.

Maybe we have not missed the boat after all.

#227 Epic Win on 04.21.13 at 4:22 pm

#216 The Prophet Elijah on 04.21.13 at 2:58 pm
#193 Waterloo Resident on 04.21.13 at 4:51 am

Quote: (“My name is Calvin ——-
I currently make about $55k a year, working multiple jobs. I’m single, no girlfriend and no kids.”)

NOW THAT IS BELIEVABLE!
Thanks for finally placing in a profile of a guy who is more like the NORM these days!

As for him being single, with no girlfriend: SMART MOVE! Girlfriends are nothing but money pits; they suck all your savings and don’t give back anything in return. If you want love and affection; get a pet cat (or dog). If you want sex; you are NOT GOING TO GET ANY after 4 years of marriage, so save your divorce nightmare future and go see a ‘professional’ lady a few times a month instead; more variety, no worries about losing half of your stuff in a divorce, and no having to pay half of your monthly payments to a woman who you are not even seeing anymore (in Alimony).

Divorce and Alimony: Just imagine if you sold your car, but now a court orders you to keep paying for the car payments and insurance payments, for the next 20 years, even though you don’t have the benefit of enjoying that car anymore: THAT IS ALIMONY, and that is what marriage — then divorce, is like these days.
——————————————————-
Thanks for the grand chuckle! Not just the girlfriend/marriage/divorce part, but the fact that Calvin’s income and status are about right. Unlike other’s who come here to brag about how much they apparently make.

Is it unbelievable I made $1.2 million last year using SMoking man’s cameltoe/batman approach to investing?

#228 Tom Vu on 04.21.13 at 5:08 pm

Re Women:

I am running a rehab clinic for women.

What we have determined is that most women have an innate desire to defer and cater to men.

They are simply too embarrased to have bought into the feminutzi crap.

While they sit as CEO’s, Politicians, and other sordid professionals….many have hidden in their desks Good Housekeeping magazines , Betty Crocker cookbooks and full collection of “Leave it to Beaver” episodes.

They yearn to trade in their “Love Shop” paraphenalia for an apron and an ironing board. There life is complete when they serve their man a martini while he smokes his pipe, reads Playboy and wears his smoking jacket and ask if he wants a refill.

I have named my clinic ” YO’: NO MO CAMEL TOE”

Sure TV’s cost more proportionally, but houses were cheaper.

PS: Cheaper TV’s are the root cause of most evil.

#229 not 1st on 04.21.13 at 5:15 pm

American, I’ll ignore your childish rhetoric but seriously you need to come out of the bubble and get some real perspective. I know your news and media brainwashed you down there but think for a moment. When you make a big deal out of something and blow it out of proportion, like the Boston even clearly was, you just encourage more of this behavior.

So now somewhere another pair of loners are thinking, hey I can be famous for a few days if I pull off a big attack. So the next one is probably on its way.

In other countries, terrorism isn’t entertainment like your media made it out to be. When a country like Israel is bombed, the authorities swarm the location fast and its put to bed quietly in 24 hrs like nothing ever happened. That is how you respond to terrorism.

#230 Old Man on 04.21.13 at 5:42 pm

#192 Van guy – I was visiting a family some years ago for dinner in a small town. The daughter had just graduated from university, and her daddy bought her a new car as a gift for his only child. So after dinner she said can I take you for a ride which was after sunset, and said sure why not as she was so proud; her dad was a very successful businessman in trucking.

Now this was a small town, so the roads were clear on paved roads, and never tell me a woman can’t put the pedal to the metal; yep the family spoiled her with all, and why not? I freaked out when she opened it up as was holding on for my life, as this woman knew how to drive and handle a car, and enjoyed that was afraid – it was a Dodge Viper.

#231 espressobob on 04.21.13 at 6:05 pm

#209 Shawn
#221 45 North
#224 Dr. Hoof Hearted

If you live in the gta and have a southerly view you can use an antenna (four bay recommended) for most of your TV needs. Buy the way its free! The cash you save over 2 or 3 years on those damn cable bills will easily afford you one helluva HD monitor! And yes the signal OTA is in HD!

Or you can invest the savings.

http://overtheair.saveandreplay.com/OTA_Channels_Toronto_GTA.asp

#232 Brad in Van on 04.21.13 at 6:11 pm

@ 229: Not1st… Worst. Post. Ever. Seriously dude, that could be the single dumbest post ever written in the history of this blog. Not1st, YOU NEED TO GET SOME PERSPECTIVE and fast.

#233 Katrina on 04.22.13 at 2:34 am

You have to see the full set of photos to truly appreciate what a hovel the $1,100,000 house/teardown in Vancouver really is:
http://www.remax.ca/bc/vancouver-real-estate/na-118-w-11th-av-na-wp_id155264387-lst

Note the shovel in several pics, clearly they had to shovel a lot of sh*t before they could even take photos.

Plus, on a narrow plot like that, what the hell can you build in its place anyway? A luxury kennel?

Madness!

#234 John in Toronto on 04.22.13 at 9:27 am

#137. Nobody here wants to talk about that :)

#235 PJ on 04.22.13 at 6:54 pm

US dollar (printing 85 billion a month) and other major currencies worlwide who follow that path are being turned into confetti. The bank of Japan says they’re printing money into oblivion. What is an export Country like Canada to do? Why are African currencies worthless? Because they print into oblivion. Why did Germany get hyperinflation in the 1930’s? Because of money printing. It’s economics for complete morons. So in the end, earning 13% a year of fiat paper money in a Garth approved balanced portfolio will still be worthless when everything is said and done. The feds will not stop printing and the US debt bubble (the largest bubble in history) will continue to inflate, until it rises to unsustainable levels, because they can’t… I repeat… THEY CAN’T stop printing. If they stop, the system collapses overnight. Getting out of fiat currency, keep cash for operational expenses only and bet against the debt, now… THAT’S being a true contrarian.

Great idea. How’s that Bitcoin and gold thingy going for you? — Garth