Happily ever after

TWEET modified modified

Some people just don’t get enough abuse. Like Carl. He wrote me this week – an elegant email with the final words carefully crafted. “Eff you Garth,” he said. Naturally, I had to share.

About eighteen months ago Carl wrote me, saying this pathetic blog had encouraged him to sell his condo and pocket $50,000. “I was happy,” he told me. “I thought I had it all figured out, my fiancé and I would rent, save a ton of money and put 50% down on our next house, in 5 years.  Well 5 years turned into 6 months as we bought a semi-detached in the Upper Beaches for 640,000.”

Well, so much for the staying power of my advice. Not only was the fifty grand burning a hole through Carl’s shorts, but his GF wouldn’t quit. “I couldn’t argue my renting philosophy any longer, and she didn’t want to ‘pay someone else’s mortgage’, so I caved.”

When Carl and his house-lusty mate wrote me in the summer of  ’12 they had total liquid assets of $20,000, and $15,000 in debt. Yep, just about 100% of their net worth was in that house. “I am an accountant and she is a Teacher with the TDSB.  We make 130,000 a year, netting about 6,300 a month and have about 800 remaining after all our costs are paid.” Accountant? Gulp.

Here’s why Carl wrote: “My main concerns are 1) She’ll want to move in 5 years and 2) our exposure to high interest rates when we refinance in 5 years and 3) our house losing value… Are we screwed?”

Of course, I cheerily replied. You have no diversification, a half-million-dollar mortgage and a house in a hood with a wild inconsistency in values and neighbours. Oh yeah, and no money. That means you have accepted market risk, interest rate risk and (of course) matrimonial risk. Plus, you get some guy living in your basement. How quaint.

Well, he’s back. “After you posted my story on your website, yourself and 130 of your loyal followers torn me a new one,” he says.  “I couldn’t walk for weeks. Well I wanted to write to you show that even if one buys an overvalued house, overextends themselves that with a little discipline things aren’t that bad.”

And how has life improved, Carl?

“We are now carless.  Cars are way too expensive and soul sucking, and if you live in the city, no need for one.  Because we needed extra monthly income, we both got part-time jobs on top of our full time jobs (accountant, teacher).  This brings in another net 1000.  Another 830 is coming in from the basement renter.

“We cancelled our 30,000 dollar wedding for a 6,000 budget with 30 close friends and family.  European honeymoon was spent in Georgian Bay.  We have budgeted 1500-2000 to cover everything else per month (food, entertainment, TTC ).  It gets tight, but I like living simple now.  We are much happier.

“We also decided to delay having children for another 2 years, to save more for our retirement, and day care costs. We save anywhere from 1500 to 2000 a month.   So ya, a mistake is a mistake, but it doesn’t mean things can be done to avoid all the disaster you are talking about. Eff you Garth.”

There you go. The cost of this house? All their cash, plus a $500,000 mortgage. No more car. Two extra jobs. Canadian Tire marriage. Guy in the basement. No family. Lots of attitude. And she’s 18 months closer to wanting a bigger place.

Carl wished to share this little success story with you, and I am happy to be his servant.

302 comments ↓

#1 T.O. Bubble Boy on 02.28.14 at 7:07 pm

So, to clarify: is he saying “Eff you” to Garth for being right? Or, “Eff you” for suggesting he sell the condo?

(either way, he’s clearly blaming Garth for decisions that are nothing to do with Garth’s advice)

#2 Mean Gene on 02.28.14 at 7:10 pm

Instead of Carl owning a house, the house owns him.

#3 Garrosh Hellscream on 02.28.14 at 7:11 pm

Sounds like he is living the dream.

I should probably ask this clown where I should go for my second Carribean vacation of the winter.

Lok’tar ogar!

#4 dave on 02.28.14 at 7:11 pm

first!!

#5 mf on 02.28.14 at 7:12 pm

This just has to be the best real life story I have read in this blog. I don’t know if I should feel sorry for Carl or not, for getting into such deep trouble.

#6 PJ on 02.28.14 at 7:15 pm

LOL loved the story but the sum up is priceless.

#7 Mithan on 02.28.14 at 7:18 pm

Carl reminds me of exactly why I sold 2 years ago and am much happier.

Thanks Carl!

#8 T.O. Bubble Boy on 02.28.14 at 7:18 pm

Does anyone see the problem with this couple being AN ACCOUNTANT AND A TEACHER???

Let’s just hope he isn’t giving advice as an accountant, and she isn’t teaching math or economics.

#9 Catalyst on 02.28.14 at 7:19 pm

Thanks for sharing

#10 DM in C on 02.28.14 at 7:20 pm

“There you go. The cost of this house? All their cash, plus a $500,000 mortgage. No more car. Two extra jobs. Canadian Tire marriage. Guy in the basement. ”

Living the dream, Carl. LIVING THE DREAM.

Wait til the kiddos come along — hard to get along without a vehicle — or pay to cab it to the children’s with the first fever, vomiting, etc.

Cognitive dissonance, anyone? I think that big FU to Garth suggests someone swimming deep in an Egyptian river.

#11 ozy - Kuddos CARL - you a man! on 02.28.14 at 7:24 pm

Kuddos CARL – you a man!

be happy she did not want a 1 mil or 800000 house, I see it everyday

and u got rid of the condo, and u exploit the underground dweller, well done

tell her it was your idea…you’ll score a lot of points…

next time though – interview 10-20 agents….don’t settle there

#12 mark on 02.28.14 at 7:26 pm

It takes 80 years but old timers finally come around. Maybe Carl can try again in 50 years time.

http://www.idiottax.net/2014/02/oldies.html

#13 David on 02.28.14 at 7:34 pm

I think this is how you should present each comparison between renting and buying since the numbers alone don’t seem to be enough for some.

If the prospect of a second job, no car and no cash on hand doesn’t scare someone away from real estate then surely nothing will.

#14 Sean on 02.28.14 at 7:34 pm

Wow, that guy is a delusional disaster. The house definitely owns him.

I don’t understand what is wrong with renting. If I don’t like the place, worst case I am gone a year, or only 60 days if I am off lease. With $1600 you can get a nice 2 bedroom apartment. No worries about property taxes, closing costs, repairs or land transfer taxes.

I wonder what Carl’s situation will be when interest rates climb.

#15 Dan on 02.28.14 at 7:39 pm

Wow, Carl, you should of changed wife instead, would of been cheaper and more fulfilling.

#16 Derek R on 02.28.14 at 7:40 pm

That’s the funniest “reader’s letter” you have ever posted, Garth. Thanks for sharing!

#17 Roman on 02.28.14 at 7:40 pm

What’s wrong with the guy in the basement?

#18 Willy2 on 02.28.14 at 7:41 pm

It confirms my notion that:
– women still take the decision which house to buy.
– sentiment is still way too optimistic. Dont worry. This sentiment will be destroyed with the next interest rates rise, say up to 10%.

#19 jess on 02.28.14 at 7:42 pm

That made my hair hurt!

82% ownership ….means nothing!
http://www.theguardian.com/world/2014/feb/28/home-ownership-greece-property-market

#20 Derek R on 02.28.14 at 7:44 pm

… and if you want to read Carl’s original letter (and what Garth and the blog dogs said) you can find it at The caving.

#21 OttawaMike on 02.28.14 at 7:46 pm

These poor souls with 6 figure incomes and first world problems who keep showing up here as the blog’s subject matter are growing tedious.

How about a piece on the immigrant couple where wife works at the Dollar Store for minimum wage and hubby drives a taxi 14 hours per day to come home to their 45 year old bug infested high rise in Scarborough. Explaining how Canada lures them in with open arms and then fails to recognize their foreign training and credentials.

Now that would provide some perspective for this blog and its “135 followers”.

#22 nother_Londoner on 02.28.14 at 7:49 pm

One reason I come to the site every day is those crazy pictures.Where in the world you get those pictures? I just love it.

btw..why are you silent on today’s great announcement of $5 hike on monthly mortgage? I thought you will have something to say on that?

#23 Derek R on 02.28.14 at 7:49 pm

Hmmm. The internet ate the link. let’s try again. you can find the link to Carl’s earlier letter on the GreaterFool blog at “The caving”.

http://www.greaterfool.ca/2012/07/11/caving/

#24 Bob on 02.28.14 at 7:49 pm

They are in the top 5% of income earners and they are completely broke. Wonder how many high earners are in the same boat?

Lets hope this superstar of an accountant is declaring the 10k he is bringing in from the basement dweller. So many small time landlords are not declaring any of their rental income.

#25 OttawaMike on 02.28.14 at 7:52 pm

She’s a teacher.

Cue Smoking Man. Stage left in 1..2…3

#26 Nemesis on 02.28.14 at 8:01 pm

@HolyCrap: The Teachings of DonJuan [no, not SM]: A Yaqui Way of… actually started out as an abandoned doctoral thesis. TrueThat.

@HommeDuTabagisme: RealMen smoke tobacco not electronic vaporizers… and they’re not afraid to wear PinkShirts, either. ManPurses are another matter altogether.

@Carl: On the BrighterSide… at least you’re not an actuary.

[NoteToGT: You’d be surprised how many TipTop TaxAccountants are HardCharging, HogStraddling TattooedClosetRambos. Egads, talk about BadBoyz!]

#27 Old Man on 02.28.14 at 8:01 pm

Carl your wedding budget for $6,000 was a bit high as should have gone for a Civil at City Hall in the wedding room salon for a total cost of $357.00. Then off for a dinner celebration at an Irish Pub that has a private room on the side, entertainment, and dance floor to meet your quests for the dinner party, and say about
$1,120.00 including the cake, and an extra $1,523.00 for booze would have been a great celebration. This would have left you a whopping $3000.00 in your pocket. P.S. the bride could have borrowed a wedding dress, and someone who stays sober could have taken photos on the cheap for the memories of it all.

#28 Jackofall on 02.28.14 at 8:02 pm

I don’t get it. You offered sound advice, he chose to ignore the wisdom, now he’s screwed, but somehow it’s still your fault. Garth, am I missing something here?

This makes less sense than CMHC turning a miniscule and irrelevant policy change in to an attempted nation-wide media frenzy.

Well anyways, Carl and his ball/chain combo are seriously in deep…I mean, wow. And they don’t even seem to realize it. Not to mention rates haven’t started going up yet, nor have they had the pleasure of dealing with even a minor home repair, tenant woes / vacancies, etc, etc.

The curtain of house lust combined with the drapes of materialistic hunger do indeed hold magical powers.

#29 Jackofall on 02.28.14 at 8:03 pm

Oh – and lol #15 – the voice of reason.

#30 Spectacle on 02.28.14 at 8:03 pm

Thank You Garth.

Hmm: Dear Carl, this is your future blogging you from 2020. We need to talk, now.

What were you thinking ( or thinking with?) , you and the ex had a clear 50 thousand nest, solid incomes between the two of you ( yes, the pressure of two jobs each, the maintenance, heating, debt bills of that next bigger house took its toll)

An accountant needed a second job? Rhetorical question Carl…..

Google agenda21 , it will advise you bluntly why you sold the car and spent ( wasted! ) 2-3 hours each and every day commuting rather than working! It will also explain the rhythmic decline of your real estate, until something had to cave.

Stop writing to Garth, and stop blaming him! Why not start with something easy, like the charts of decaying real estate , or links illustrating blog responses!

Listen Carl, I’ve got to go help some moist ones about to bit-coin, then off further back to gather some tulips!

Cheers all.

Ps Garth, you really healed well, you greatly enjoyed the Harley that summer too! Blog Really took off in 2014!

#31 Nemesis on 02.28.14 at 8:12 pm

This should go well with SM’s SenecaSojourn tomorrow night:

http://youtu.be/d1Lvu0gLw10

[NoteToSM: Sheryl Crow was a teacher… Yes, a teacher. Who went to a casting call on a whim and ended up landing a coveted BackUpChorus gig on a MichaelJacksonTour… The rest, as they say, was history.]

#32 A Yank in BC on 02.28.14 at 8:14 pm

Carl should wear a dress.. because he’s obviously incapable of wearing the pants in the family.

#33 Squish on 02.28.14 at 8:14 pm

You have significantly higher-than-average income to begin with (almost double the average), and you’re taking extra jobs and doing without so that you can stop “paying someone else’s mortgage” and instead start “paying the bank to rent money”. And all under the guise of living simply … this was really so painful to read.

It is so hard watching friend after friend get in over their heads like this (and trust me, it’s not always the wife driving the decisions). We know a couple who’ve run out of money halfway through a basic house reno, tried to get a HELOC in order to finish, but assessment is less than what they paid 10 months ago even with a new roof etc. They’ve just acquired several credit cards to finish the renos, hoping to up the assessment so they can then take the “equity” out, to pay off the credit cards. You cannot make this stuff up.

#34 Cici on 02.28.14 at 8:15 pm

Awesome pic…I suppose that’s a direct message to the CMHC, LOL!

Never again will I pay any heed to any of their announcements of announcements.

#35 Ray Skunk on 02.28.14 at 8:18 pm

I fear for the future of this nation when these two are teaching the next generation and supposed to be good at numbers. I don’t know whether to laugh or cry.

Seems par for the course – Mrs Skunk’s mother is a recently retired teacher and can’t spend her McGuinty-induced windfall fast enough. Upon retirement what is the first thing she did? Buy a new car to replace her three year old one which has already depreciated like a stone. She just sits at home all day! Madness!

Anyway… I digress… a question based on this story: can a realtor (or someone familiar with realtor rhetoric) chime in and tell us where the Upper Beaches boundary is this week?
A couple of years ago my friend bought into the Upper Beaches @ Main and Gerrard (a mere “5 mins to the Beach” apparently – maybe if you’re Usain Bolt).

Are we up to Victoria Park & Eglinton yet?

#36 Freedom First on 02.28.14 at 8:19 pm

Happily ever after…….

…….to be followed by its sequel: “How We Effed Ourselves, Carls Story”

#37 LH on 02.28.14 at 8:19 pm

Maybe wedding budgets are inversely proportional to real estate holdings! Thanks to recent sales in C01 it looks my portfolio of 7 SFH just went up by at least $1m :)

http://themashcanada.blogspot.jp/2014/02/sold-3-ross-street-baldwin-village.html

Momentum and supply/demand are still on my side, this trade still has legs.

My wedding? It was done at home, together with another couple (my wife’s friends) a dozen or two guests, total budget <$250. We witnessed and signed each other's documents and the deal was done.

#38 4 AM Sunrise on 02.28.14 at 8:22 pm

#21 OttawaMike on 02.28.14 at 7:46 pm

A few months ago, I read a coherent rant on Craigslist Poland (for what that’s worth) warning fellow Poles to not immigrate to Canada. It was about being lured in with the promise of a good job and ending up working for minimum wage. Or burning through savings (because you’re required to come in with some funds) while waiting to be re-certified in order to apply for a job. He insinuated that Canada wanted these educated immigrants to spend money in our economy (on food, rent, etc.) until they give up on the job thing and go home. OUCH.

#39 Stickler on 02.28.14 at 8:23 pm

“Upper Beaches” -> HA. I laughed when they named it that. Why not “north of the beach”. Lame.

Accountant & a teacher, and both felt they needed to take second jobs…’nuff said.

#40 Nodebt on 02.28.14 at 8:28 pm

Hey Garth! How’s the leg doing?
Sold my McMansion ! Subjects off!
4th best day of my life!

#41 NoName on 02.28.14 at 8:29 pm

Carl, F bros need good spin doctor.

#42 chapter 9 on 02.28.14 at 8:29 pm

Hey Carl!! This is like a prison sentence minus the walls and barbed wire. Renting debt,zero life, work until you drop, hey dude life is way to short it ain’t worth it.

#43 rob on 02.28.14 at 8:31 pm

All I took from this post is that Carl is not a very good accountant. I pity his current and future clients!

#44 Smoking Man on 02.28.14 at 8:34 pm

#25 OttawaMike on 02.28.14 at 7:52 pm

Teachers don’t know they’re idiots. Don’t know they are agents for the machine, manufacturing un questioning
zombies, void of critical thinking skills, or basic finance.

Perfect dumb ass consumers.

Have I lost my mind, they make me customer, why do I chirp them.

I’m the idiot, note to self, stop chirping teachers.

#45 tkid on 02.28.14 at 8:34 pm

I guess Carl is living proof of the saying “if you have them by the balls their hearts and minds will follow.”

At least his tenant is living the good life. Nice of Carl and the missus to supplement the wages of another. Generous like.

#46 omg on 02.28.14 at 8:41 pm

Carl – ignore them all.

One thing I have come away with over the last 7 years is that no one knows, not even the great GT, knows the future.

Is there more risk to buying right now versus renting – yep, likely there is, IMHO. But of course all us RE bears have been saying that for almost a decade, now!

Realistically house prices are not at risk until interest rates go up in a meaningful way. And the way the Canadian economy is that unlikely to happen for the next couple of years.

Where you are financially right now and with the renter in the basement you should be OK on this house over the long run (and I am meaning 20 years).

#47 Van Isle Renter on 02.28.14 at 8:52 pm

#21 OttawaMike on 02.28.14 at 7:46 pm
These poor souls with 6 figure incomes and first world problems who keep showing up here as the blog’s subject matter are growing tedious.

How about a piece on the immigrant couple where wife works at the Dollar Store for minimum wage and hubby drives a taxi 14 hours per day to come home to their 45 year old bug infested high rise in Scarborough. Explaining how Canada lures them in with open arms and then fails to recognize their foreign training and credentials.

Now that would provide some perspective for this blog and its “135 followers”.

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

Sorry but not every immigrants training education is on par with Canada’s and they know that before they get here. I’m a registered professional with my M.Sc. and I can guarantee you that numerous immigrants that I’ve worked with needed to upgrade to meet Canada’s standards. Their level of knowledge was nor akin to second or third year university student, not a graduate. That’s just the way it is.

Once they meet Canada’s standards, they are absolutely welcome to join the profession, but their credentials were NOT the same as ours. Also, the vast majority of new immigrants that I’ve worked with were happy to upgrade, get to work and proved very capable and professional. Canada offers everyone a chance, and often a second or even a third chance. What you do with your chances are up to you.

#48 It's In Our Kernel on 02.28.14 at 8:55 pm

Greetings from Melbourne, Australia, where the RE market is just as insane and bubbly…

Carl also has not considered the income drop and expenses increase when they eventually have children. He’s gonna have to work 2.4 jobs himself just to make ends meet!

As is, saving 800 from 6300 income is only about 13% savings. Their expenses are way too much. The extra income from part time jobs helps. However, you can only live on a tight budget for a while before it gets very stressful, etc…

Also Smoking Man: please stop having a go at readers who do not want to contribute to the blog. Your comment yesterday “No comments…. Wtf” is about as useful as comments like this in code:
/* No comment */
// No comment
— No comment
‘ No comment
# No comment
rem No comment

#49 Uh Oh Canada on 02.28.14 at 8:57 pm

I rented a basement suite in the ‘upper beaches’ (Main & Danforth) for $450 back in 1997 while I was attending University. Hard to believe it would be going for $800+ now.

#50 lawboy on 02.28.14 at 8:59 pm

And can you imagine what that 640k semi in “upper beaches” looks like!?? yuck. and the street too…I picture it treeless.

and no, you don’t “need” a car living in Toronto…as long as you are prepared to ride the ttc lol.

#51 4 AM Sunrise on 02.28.14 at 9:02 pm

My singleton lifestyle, which includes rent (no roommates!) in a snobby suburb, and a sufficient amount of fun, costs $1500 a month. That Carl and his honey burn through $6000 blows my mind.

Oh yeah, food inflation is looking real, at least in my neighbourhood. Grocery stores are even jacking up prices in the clearance section. Seriously, people?!?!? And yes, I raid the clearance rack on principle – I saw a documentary on RDI about how much edible food is thrown out in the Western world (in all stages of the food supply chain) and it moved me to tears.

#52 waiting on 02.28.14 at 9:03 pm

Working one job is tiring enough, but a couple both taking on other part-time job to afford a house seems like a recipe for exhaustion – not the best way to start a life long relationship. I wonder how much they are enjoying their new home. It sounds like it’s taking all their energy to support it. They do not own the house, they only own a small part of it. This is why the big banks are declaring huge earnings. Too many Canadians are working their butts off to hand over hard earned cash, just to have a place they can call “their own”. Owning can be fine – if you do it when it’s not consuming all of your resources.

#53 Ruben on 02.28.14 at 9:04 pm

“Upper beaches” I used to live two houses up from Queen in the heart of the Beaches. That was “Upper Beaches”. Queen and south to the Beach was/is the “Beaches”.

#54 Notta Sheeple on 02.28.14 at 9:04 pm

“…..We make 130,000 a year, netting about 6,300 a month and have about 800 remaining after all our costs are paid……”
=========================

$800 remaining after NETTING $6,300/month?

The IKEA monkey probably balances a better budget.

#55 DR on 02.28.14 at 9:05 pm

#33 Squish

It is so hard watching friend after friend get in over their heads like this (and trust me, it’s not always the wife driving the decisions). We know a couple who’ve run out of money halfway through a basic house reno, tried to get a HELOC in order to finish, but assessment is less than what they paid 10 months ago even with a new roof etc. They’ve just acquired several credit cards to finish the renos, hoping to up the assessment so they can then take the “equity” out, to pay off the credit cards. You cannot make this stuff up.

—-wow what did they end up doing to get out of that situation??

#56 not 1st on 02.28.14 at 9:07 pm

Imagine some night around tax season and Carl is pulling a late one doing returns and his wife is home alone with the guy in the basement.

Pretty soon Carl is moving into the basement and the guy moves upstairs. All of a sudden things get a LOT more expensive for poor Carl. Poor decisions have impacts and they can rarely be glossed over by spreading yourself even thinner or making stupid rationalizations like no car. This is Canada not Paris.

#57 DR on 02.28.14 at 9:08 pm

LH on 02.28.14 at 8:19 pm
Maybe wedding budgets are inversely proportional to real estate holdings! Thanks to recent sales in C01 it looks my portfolio of 7 SFH just went up by at least $1m :)

http://themashcanada.blogspot.jp/2014/02/sold-3-ross-street-baldwin-village.html

I don’t comprehend still. you got 7 like that LH?

#58 OttawaMike on 02.28.14 at 9:09 pm

47 Van Isle Renter on 02.28.14 at 8:52 pm

Yes we need to protect our national standards for professionals and trades but tell me why can America can bring their immigrants up to standard with much less onerous requirements?

As a medical specialist Dr. uncle of mine once told me “all the foreign trained doctors are crooked and frauds”
To which I answered: Really?

We are doing our nation a huge disservice by setting up these barriers to our new residents.

#59 bricklayer on 02.28.14 at 9:16 pm

CARL, listen buddy,
try to live life and not let life live you. strap on a set, sell the house and move on.

#60 Barry in Pickering on 02.28.14 at 9:17 pm

Another fizzle…. “Big News Coming” turns out to be $5 per month on people’s CMHC insurance.

#61 bricklayer on 02.28.14 at 9:17 pm

… I wonder why none of my friends are bean counters….

things that make you go ‘hmmmmm…..’

#62 TorontoTom on 02.28.14 at 9:18 pm

#25 – Ottawa Mike

Hi Mike,
Ever think they got scooped up in their own personal greed? Having some credentials that are recognized from where they originated might have given them a higher standard of living back there but means squat here…maybe they can upgrade online from the University of Arizona?
Cry me a river. They abandoned their country in pursuit of wealth, now they can join the line like the rest of us

#63 cmj on 02.28.14 at 9:25 pm

I have a basement suite renting at $1125 per month. The city in BC lower mainland charges $375 annually on my property tax bill for having a suite. Other municipalities charge more. if your suite is reported, there are fines if you haven’t done so.

I also claim the rental income on our taxes each year $1125 X 12=$13500. Even though we are able to write off expenses, $13,500 really becomes $7500 after taxes. Many municipalities are seeing basement suites as a new source of revenue

#64 Mr. Moto on 02.28.14 at 9:29 pm

an Accountant eh?
he probably thinks an asset is a small donkey.

#65 jan on 02.28.14 at 9:31 pm

Yes, yes yes yes and yes to infinity as far as an overpriced re market.
But, have u ever lived in a Vancouver area rental or someone else’s basement here.
Landlords here are disgusting/greedy pigs and make you feel like you’re nothing unlike say in Europe where real estate is just a place to live and rents are enormously cheaper.

I totally agree with most of yoru points about this inane re market but believe me, renting here sucks and girl won’t even go out with you if you’re a rental loser.

All of my Chinese Canadian friends own and refer to a renters as unstable persons with no future, and how can you argue with that ?

#66 The long run it pays to own rather than rent on 02.28.14 at 9:31 pm

Paying a mortgage is a long term savings plan. Timing of the purchase is important, but in the long run the resale price will almost certainly be higher and you will have savings in the form of home equity.

BTW many financial advisers who flog Buy-and-Hold products make a similar argument to own, “… because the price may go up or down, but it will be worth more in the future”.

Alwyn

#67 MoMoney on 02.28.14 at 9:31 pm

Canadian Tire wedding …. Mouahahahahahahahaha

That made my day, thanks Garth !

#68 Smoking Man on 02.28.14 at 9:38 pm

#48 It’s In Our Kernel on 02.28.14 at 8:55 pm

Dude the No Comments WTF comment.

I noticed the garth post come out, checked back an hour later, their was no comments, I check the TV guide to see if there was a Harley show for one foot riders, nothing.

I thought maybe for a moment garth discovered if he crushes
his oxy, and snorts it, it works way faster, but sort of floats you and lose track of time.

The I realized, refresh….

#69 jan on 02.28.14 at 9:41 pm

Oh, and one more thing.
After reading your blog since its inception I have come to the conclusion that unless a meaningful rental stock of properties is established for the less privileged persons in this country, the property ownership obsession here will never ever end ! Amen.

#70 Sunpack on 02.28.14 at 9:41 pm

The most important financial decision one will make is the partner they marry. Carl, seemed to have failed accounting 101. Good luck Carl, I am headed to Brazil, where everyone is happy just being on the beach (a real beach) .

#71 Ray Skunk on 02.28.14 at 9:43 pm

#56 Not First

Imagine some night around tax season and Carl is pulling a late one doing returns and his wife is home alone with the guy in the basement.

Pretty soon Carl is moving into the basement and the guy moves upstairs. All of a sudden things get a LOT more expensive for poor Carl.
————————

Brilliant, best laugh I’ve had all day!

Thing is, it could well happen. She’ll ride off into the sunset with basement boy, forcing a sale of the house with the equity barely covering the costs.

Poor Carl will be on the hook for at least half of their debts, the basement income gone, his retirement plan (the wife’s government pension) will be no more.

Hey ho – on the plus side at least he only blew $6k on the wedding.

#72 The Guy in the Basement on 02.28.14 at 9:48 pm

If Carl sells the house, will I have to move?

#73 I'm stupid on 02.28.14 at 9:49 pm

Garth nothing tonight of the raise in rates for CHMC insurance?

Did we not exhaust that yesterday? — Garth

#74 I'm stupid on 02.28.14 at 10:01 pm

LH

I thought your portfolio of 7 houses are located in the high park area. I remember this because I replied to one of your ridiculous posts. Next week they’ll be in rosedale and the week after the bridalpath.

Why lie to a bunch of strangers? Even more embarrassing is getting caught doing it.

I’m stupid

#75 RayofLight on 02.28.14 at 10:06 pm

What is your opinion on what is happening in the Ukraine ?
Do you believe it may become significant ? It seems Obama is playing checkers ,and Putin is playing chess.

#76 X on 02.28.14 at 10:08 pm

I can’t believe CMHC gave media a heads up on an announcement like that. LOL. Not even news worthy.

Carl – yeah, she decided to wait 2 more years for kids, see how that goes, same for part time job….see a pattern yet.

I hope you entertain when you can, otherwise when are you actually enjoying the house.

Thanks for posting Garth, I gave my wife a big hug.

#77 Fodork on 02.28.14 at 10:10 pm

I say to Carl that he should quit his job and find a contractual position which will let him write off major portion of income taxes + a portion of the mortgage. Many do that to reduce the tax bill. Ain’t nothing wrong with that.

#78 lurker on 02.28.14 at 10:18 pm

I have a question for Garth, or one of his educated followers on here.

If you feel certain of a 7% return, would you advise someone to max out their 4% heloc and borrow 300k to invest?

If the answer is no because it’s too risky. Then would you advise someone to dedicate all their extra money to paying off their mortgage at 4%? Given that paying off the 4% is a 100% guaranteed zero-risk way to ensure “returns” of 4% which you don’t have to pay tax on?

I’m not talking about running out and making a bold decision based on one blog posting, but I’m interested to hear the argument one way or the other.

Thanks for the great blog!

#79 groovin123 on 02.28.14 at 10:20 pm

WOW.

I wonder how long this guy can keep telling himself he’s happy before he hangs himself from the closet door by his tie?

#80 AisA on 02.28.14 at 10:20 pm

I nearly was like lol, then I was like damn, then I was like wtf did I just read and then I finally lol’ed like totally.

:-)

#81 Nemesis on 02.28.14 at 10:30 pm

@tkid/#45…

“if you have them by the balls their hearts and minds will follow.” – tkid

I have the strangest BudWeiser induced feeling that only HolyCrap, you, moi, John Paul Vann and Neil Sheehan grok that.

“Outta here.”*…

[*: Next week is going to be very busy. This weekend… not so much. ChillAx, SaltyDogz – the RealFun starts much later. Relatively speaking.]

#82 Smoking Man on 02.28.14 at 10:31 pm

#74 I’m stupid on 02.28.14 at 9:49 pm

I can help you stupid….

Forget for a moment your atter contempt for us superior home owners. Have a shot of JD.

YouTube Hanson Family….

Amazing sound, it’s Lenard Cohen on cactus juice in a hot Arizona desert..

I’m hooked once they announce North American tour. Going to min 4 shows, hopefully in the south west somewhere.

#83 TurnerNation on 02.28.14 at 10:34 pm

I think a couple of days ago there is commenting along the lines of 10 reasons why beer is better than women, 10 reasons why wine is better than men.

Heard a story of a construction worker who met the girl working at the local beer hall and lived happily ever after. My life is a little more complicated (I blame institutions of higher yearning) than that; prima facie prima donnas is mostly what one finds at Blog Dog Lodges 1 through 6.
Was quite a surprise, then, to happen upon a 2 star joint with a part time ‘tender who runs a NA-wide business on the side. Seeking alpha, went surprisingly long.

Speaking of cheating, met an alumnus who runs several online storefont pages for custom essay work. Grabbed cards for all, one never knows but would use only for format/structural ideas. I write emails and blog posts these days. Colloquial and soliloquial.

#84 Smoking Man on 02.28.14 at 10:35 pm

Damn it, it’s spelled

Handsome Family…..

Your hooked right away…

You Tube it…….

#85 James on 02.28.14 at 10:38 pm

Wow,

No car, a renter in the basement and a second job each. That sure sounds appealing to me. Having to TTC around everywhere, and probably not having enough savings to escape the long winter.

2000 per month savings is 24k a year. Is this earmarked for RRSP contributions? I didn’t read anything about retirement funds, although I may have missed it.

#86 Honky Tonk Nostyman on 02.28.14 at 10:38 pm

#31 Nemesis on 02.28.14 at 8:12 pm — [NoteToSM: Sheryl Crow was a teacher… Yes, a teacher.”

So was Sting, albeit a self-confessed average one but music pays better!

Bankers One, Bankers Two and Tirasmu for good measure. All roads (via Libya, Tunisia etc.) lead to Ukraine.

#87 sideline sitter on 02.28.14 at 10:42 pm

$130k pre-tax, for an accountant and teacher in Toronto? Doesn’t pass the smell test. Both should make at least $70k+ especially with experience.

If not, they’re doing something wrong…

#88 Toromierda on 02.28.14 at 10:47 pm

Canadian Tire marriage.

——————————————–

I’m probably on the wrong side of 40 to say LoL but that one actually made me laugh out loud.

Women. They sure love houses and hate renting–and guys who rent. They like to paint the walls crazy colours and invite their girlfriends over for dinner parties to talk about further renovation plans.

Realtors know this. You may find this hard to believe, but I actually have video of of how Carl got talked into buying a place they can’t afford.

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

#89 Chickenlittle on 02.28.14 at 10:47 pm

I still can’t figure out why this guy is mad. HE bought the house. Garth had nothing to do with it. If he wants to be house poor that’s his choice. This guy has nothing to brag about, whether it’s his trophy RE investment, fiancée, or income.

My husband and I usually make either the same or more than what they do and until recently we both had only a high school education. We just happen to be very good at what we do and we don’t need pt jobs to pay the bills! I am VERY surprised at how little he actually makes.

Having said that, it is surprising how quickly $6300 can disappear. Car repairs, dentist, vet, Xmas, birthdays, weddings, etc. Life in Canada is expensive!

Anyone else watching Marketplace? It’s about financial advisors….should be interesting!

#90 Suede on 02.28.14 at 10:47 pm

Happy wife, happy life

Unhappy life, get rid of the wife.

(Don’t tell my woman i said that). Off to go buy her a purse or earrings to keep her loving me and letting me make the decisions around here.

#91 Banjopete on 02.28.14 at 10:50 pm

@79 Lurker…

the only thing you can be sure of is paying off your mortgage faster if you choose option #2, but what if there is no appreciation in that asset? then all you’ve done is avoid paying interest on a debt that’s not appreciating?

no one knows the future but lots of people know the past, houses and stocks don’t appreciate at the same rate historically, pick your poison

the what if applies to both scenarios

#92 Infused with Opiates on 02.28.14 at 10:58 pm

24 Bob – these people are nowhere near the top 5%.

http://www.statcan.gc.ca/tables-tableaux/sum-som/l01/cst01/famil106a-eng.htm

86 James – I am missing it to. I get about $8K net after tax, cpp, ei, union dues. Big Pensions? RRSPs/savings?

#93 Boy, I wish I was born in Mexico on 02.28.14 at 11:04 pm

Mexico US Canada
Senior engineer/IT pay 25-75K 75-150k 75-110K
3 bed SFH in major city 75-150K 200-400K 500-1500K
Minimal auto insurance 200-400 600-800 1200-1800
Cell and cable package 30-50 50 -100 100-150
Gov health Insurance 300 -400 ? 700-900
Gas per litre .70 .75 1.25
Family of 4 weekly gocrs bill 60-90 75-125 125-175
Vacation to escape climate N/A N/A 1K-2K
Marginal tax rate after salary 20% 35% 50%

No wonder Canada only excel at employing government workers, laundering money for citizens of convenience and digging profitable holes in the ground

#94 World According To Garth on 02.28.14 at 11:14 pm

Only one of them is a Govt worker….

#88 sideline sitter on 02.28.14 at 10:42 pm
$130k pre-tax, for an accountant and teacher in Toronto? Doesn’t pass the smell test. Both should make at least $70k+ especially with experience.

If not, they’re doing something wrong…

#95 Min in Mission on 02.28.14 at 11:25 pm

Yeah, seems like Carl has it pretty much made! LOL!!

#96 Cici on 02.28.14 at 11:26 pm

Oh Dear Garth, you should be getting paid for what you do.

You try to help the guy, then turns around and admits that he made a mistake, but tells you to “eff off.” Ooh, là, là.

He’s obviously hurting: he’s whipped by his wife and got a lashing from the bloggers, he’s got hemorroids, and a bruised ego.

But despite his ignorance and entitlement, I do felicit his efforts to live more simply and budget effectively. Clearing out the excess, taking care of basic priorities, and living within one’s means is a good for the soul and long-term survival.

That said, they are going to have to work extra hard to pay a big chunk of that overpriced sucker off before interest rates rise.

Best of luck to you anyways Carl, even if you are a spoiled and entitled brat casting blame in the wrong direction.

#97 DocInWaitingRoom on 02.28.14 at 11:27 pm

Man Garth that made me laugh so hard I popped a hemorrhoid.
Thanks.
Im going for 4 kids, we have been around the world on one salary under 60k as a a resident, and enjoy life to fullest with my large family. Heck I leave work when I can I dont get more work.

The later you have kids you risk their future health ie downs, and the time you spend with them and their kids if you live that long.

The house sure will take care of you and provide amusement when you most need it ie retired and going up on the roof to fix a leak.

The first thing we were told in first year med is to ask if you have any kids cause when you are sick as a parent guess who will be there to help certainly the house will come as well as ol yeller.

#98 Cici on 02.28.14 at 11:30 pm

#36 Freedom First

Best response ever. I’d be in love if I wasn’t already ;-)

#99 DocInWaitingRoom on 02.28.14 at 11:33 pm

No car in this weather? Sure you need that home but waste time and freeze the orchids you must.
I missed riding the rocket with the guys clipping their toenails and the fresh smell of urine in the morning. Now why would someone pay chump change for a hybrid luxury car with sound system and heated seats to save a few pennies?

At least by sacro coccyx is warm hows yours in this weather? My rental is as warm probably warmer than your home as you need to cut heating costs.

Got to love these guys grow some big ones

#100 I'm stupid on 02.28.14 at 11:41 pm

Smoking man your posts are complete nonsense just like LH. I read what you say and feel sorry that you feel the need to come here to get attention. You drink and smoke to forget the fact that no one really takes you seriously. Your intellect is equal to a 5 year old.

I’m stupid

#101 45north on 02.28.14 at 11:45 pm

We also decided to delay having children for another 2 years

so where you going to be in 2 years? nowhere Carl nowhere

government can stimulate the market a little more but at a cost. This morning’s announcement is significant in that it shows the federal Conservatives are not wiling. Without more stimulus, the market will correct. Seriously correct. Like 30% Now “Upper Beaches” may hold up better than most but I figure 10% which would put Carl’s house at $576,000. Which as Garth pointed out would not change the mortgage one little bit.

#102 KommyKim on 02.28.14 at 11:46 pm

RE: #17 Roman on 02.28.14 at 7:40 pm
What’s wrong with the guy in the basement?

He posts on this blog.

#103 Tri State Pat on 02.28.14 at 11:49 pm

Carl has to look real hard at the mirror right now before kids come along.

#104 KommyKim on 03.01.14 at 12:17 am

RE: #79 lurker on 02.28.14 at 10:18 pm
I have a question for Garth, or one of his educated followers on here.
If you feel certain of a 7% return, would you advise someone to max out their 4% heloc and borrow 300k to invest?
If the answer is no because it’s too risky. Then would you advise someone to dedicate all their extra money to paying off their mortgage at 4%?

I’d definitely pay off the mortgage for a 4% savings rather than do the 7% portfolio – 4% Heloc and get a 3% return that I have to pay tax on.
You have to remember about the risks of a heloc/mortgage in Canada. You can’t just walk away from it if things go bad. Hence by borrowing more you’re increasing risk. By paying off extra principle on the mortgage you are reducing risk.

#105 here we go again on 03.01.14 at 12:36 am

#76 RayofLight on 02.28.14 at 10:06 pm

What is your opinion on what is happening in the Ukraine ?
Do you believe it may become significant ? It seems Obama is playing checkers ,and Putin is playing chess.
—-

the purpose of war is to create debt
-ezra pound

it’s only a war when there are two sides fighting
– bill hicks, aka alex jones

don’t rinse, just repeat-

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

#106 Jon on 03.01.14 at 12:40 am

Mortgage heating taxes, 3300′ two bus passes 200′ , insurance 200, lunches 500 probably eat out, groceries 500, date night 1 week 400, booze 200, tv internet 200, their spending is something like this leaving a mere 1k a month. Im sure they could cut 1k easy a month but the mortgage and housing is killing them. This doesn’teven cover repairs, hobbies, vacations, dentist clothes, haircuts etc. they need to redo their budget, and really reconsider the mortgage, they cant afford it.

#107 Smoking Man on 03.01.14 at 12:51 am

Bill Blair the poster child of a true blue Canada, (hang on one need some tunes)

This ice sceam smothy, spends a fortune of my money trying to take out fat bastard, who’s not perfect but is of a mission to keep the tree huggers from raiding the till.

I remember that smothey, rounding up tree huggers and putting them in a cage, so walking a dog, some coming out of a restoring. Then there was those that got trapped and forced to dodge lightning in a killer rain storm.

And now smothy is backing a loser, the King of the wimps.

And the tree huggers love him. They gather at Dundas square, bicycle helmets In hand, yoga Matt under arms, with AL Gore business cards in wallet.

This country is doomed. The young have rattle snakes as pets but think the are patting kittens.

#108 cornstars on 03.01.14 at 12:54 am

hey smoking man, forget the JD and get pickled with George Dickel cheers!

#109 Chaddywack on 03.01.14 at 1:01 am

Too funny Garth! You just made my Friday night.

Hilarious!

#110 Cici on 03.01.14 at 1:02 am

#47 Van Isle Renter

Hoighty Toighty much?

Where I am living in Canada, many of our immigrants are European (Belgian, French, British etc.) and have way better credentials and training than we do (in health, computer sciences, etc.). Yet they have to spend a lot of time and money getting up to Canada’s supposed standards.

It goes both ways you know, and Canada has neither the best education system/universities, nor the best regulatory bodies and associations out there either. I’m not saying we’re substandard, just not the best by any measure.

#111 Frustrated Kiwi on 03.01.14 at 1:04 am

What if house prices drop substantially? Then they’re left with four jobs, no cars, no kids, and a big grumble from Carl to his wife along the lines of “I told you we should have waited.” I foresee a lot of marital stress – very sad.

#112 Smoking Man on 03.01.14 at 1:09 am

Bill Blair you little parasite exhibiting teacher sanctioned behaviour.

Did it feel good at the G20 rounding up all those kids, locking em up. Beating the shit out of some of them…

And the guiding light of the Toronto star, the home base for all that is wrong with us old fks.

Cookie well done, what do you pay Daniel Dale. 30 k.. Xmas bonus a man purse perhaps.

The chic who wrote the Ford bashing book. Late night talk shows, you’ve made it sweety.

I like the fat basterd.

DR Smoking Man

#113 Coho on 03.01.14 at 1:10 am

Some people work to live and others live to work.
Some live IN houses. Others live FOR houses.

Buying something you cannot afford because the ego cannot stand the thought of paying someone else’s mortgage is destructive behaviour. If owning a car is soul sucking, then what is a $500K mortgage?

Oh well, we can all be thankful that we are not experiencing a Western backed coup d’état against our elected sitting government like what is unfolding in the Ukraine. For us it’s all about granite counter wishes and stainless appliance dreams.

If people think there is a benevolent force behind these insurrections from one country to the next, they are under a huge misconception.

The West, which touts itself as a champion of democracy is in the business of fomenting rebellions against heads of state that don’t sell out their own people. And the people (the programmed rent-a-herd vocal minority) with the help of nefarious characters are stirred up to the point where they tear their own country apart. So called ‘bad men’ in government are replaced by much worse men while countries fragment. In the end we have puppet democracies that get carved up by Western institutions, and the people suffer because of it.

It’s all about the warring factions of TPTB (the chess masters using humans as their pawns) performing geo-political-militaristic strategic maneuvering to acquire the pieces of the puzzle needed for world domination–all sold to the cattle as freedom and democracy.

Syria, Iraq, Libya, Afghanistan, Ukraine, Egypt…the list goes on. How’s Western intervention, be it overt or covert, working out for them?

#114 joblo on 03.01.14 at 1:17 am

Carl, dump the house
Here’z all what Ive learnt
Buy balancing etf’s when Camel toe
Sell when Batman’s ears
Rent.. and do this till u r a rinkly
then u can retire

#115 Ontario's Left Coast on 03.01.14 at 1:32 am

Ha, hands-down best part of that post was “Guy in the basement.”. So random, so creepy, so true. Garth, you have such a way with words.

#116 NS in Calgary on 03.01.14 at 1:35 am

Wow! An accountant and a teacher. This is what so called educated people do? They call this a life? No wonder I find the education system so lacking.

Canadian Tire Marriage – thanks Garth for this.

#117 Dogs playing poker on 03.01.14 at 1:35 am

Ray, com’n, is it serious?

Only as a heart attack.

Putin has his Olympics completed, and now it’s time to crush democracy.

Who in the world will stand up to the sociopath.

Not the Americans, they’re broke.

Not the Europeans, they have to live with the sociopath.

Not the Chinese, not in their sphere of influence.

Not the Arabs, they don’t fight in wars, they pay people to fight in wars.

Not the Italians, it would get in the way drinking coffee.

The Turks, the Greeks, the Lebanese? No. No reason.

Who then?

The answer my friend is blowin’ in the wind.

Welcome to the NewUSSR comrade Ukie.

#118 Tom from Mississauga on 03.01.14 at 1:42 am

Carl’s back! That last post was hilarious. So, I rent, and own Canadian bank shares instead. Tired of paying my dividends yet?

#119 Gen Y on 03.01.14 at 1:43 am

While I understand the logic behind renting, it’s hard not to envy those around me who are buying (reasonably). One of my good friends just decided to buy a townhouse in Calgary with her fiance, cost about 3 X income. I can’t afford to buy now and should be renting logically anyhow, so I thank this block for keeping the temptations at bay.

#120 Gen Y on 03.01.14 at 1:44 am

#93, I meant blog. I look forward to new posts everyday.

#121 Tom from Mississauga on 03.01.14 at 1:55 am

#46 omg on 02.28.14 at 8:41 pm
‘One thing I have come away with over the last 7 years is that no one knows, not even the great GT, knows the future.’

Uh, their present sounds terrible though…

#122 calgaryPhantom on 03.01.14 at 1:58 am

“ETF” you Garth.

#123 Tom from Mississauga on 03.01.14 at 2:06 am

#78 Fodork on 02.28.14 at 10:10 pm
‘I say to Carl that he should quit his job and find a contractual position which will let him write off major portion of income taxes + a portion of the mortgage. Many do that to reduce the tax bill. ‘

Uh, renters can do the same thing…

#124 Tom from Mississauga on 03.01.14 at 2:12 am

#79 lurker on 02.28.14 at 10:18 pm
‘would you advise someone to max out their 4% heloc and borrow 300k to invest?’

Uh, I’d get a margin loan at 3%. Use the cash flow it generates to pay the loan.

#125 Deep Blue on 03.01.14 at 2:13 am

OttawaMike on 02.28.14 at 7:46 pm

I’ve never understood the sentiment similar to that what you expressed:

Explaining how Canada lures them in with open arms and then fails to recognize their foreign training and credentials.

It’s obvious to most that Canada is already over subscribed by the number of individuals seeking the living standard it potentially offers. Although it’s not PC to bring it up, the fact that most immigrants end up being employed at the margin for minimal remuneration, that current “home grown” graduates of tertiary professional education end up with minimal employment prospects and the well understood government policy of deliberately understating unemployment rates, all provides serious antidotal evidence that the Canadian economy is already saturate by those seeking its limited opportunities. I myself am familiar with the case of a recent immigrant with a PhD in engineering (antenna design) from the mainland, now working as a bench technician at a PCB contract manufacturer, a position generally suitable for a recent two year junior college graduate. Without the need for the skill set that the individual provides, it easy to see how it happens. Most recent immigrants accept their lot by justifying they’re here for their children’s benefit, not realizing how serious the opportunities have been corroded for young Canadian now, and in the immediate future. It’s as if the inanimate Canadian economy is to be blamed for not creating sufficient employment opportunities and is subsequently biased against the professional attributes of recent immigrant, not that they probably should never have been brought here in the first place.
Indeed, it says a lot about the over all incompetence, or perhaps even systemic corruption, of the Canadian government when one compares it with the other first world, resource exploitive economies, Australia, New Zealand and Norway come to mind, that all have governments that deeply understand this point and strictly limit immigration to levels that would be deemed unaccepted by the Canadian political elite.

#126 Cy Young on 03.01.14 at 2:26 am

My guess is the conversation to buy the house probably went like this.

http://m.youtube.com/watch?v=hPIxrzmatq0

#127 LH on 03.01.14 at 2:27 am

Re: #75 I’m stupid
Re: #57 DR

Yes, 7 SFH’s just like 3 Ross St, only better for the most part. 5 in M5T and 2 in M5R. Mix of semis and detached, with five of the seven larger in floor area and lot size. In fact, three of the seven are within 200m from 3 Ross St. All 7 are within close walking distance to U of T. Being young (still under 30, but just barely), I got my start in 2006, and continued buying SFH’s at the average pace of one house bagged per year. I had one overriding criteria, everything had to be super central and walk-able to U of T. 2006 wasn’t ancient history. Many of you, if you had not drunk Garth’s kool-aid, could have done the same. As fortune would have it, many of the sellers who sold to me were convinced they were catching the “top” of the real estate market, and considered themselves awfully clever for harvesting gains. God bless them. Some of them made quite a pretty penny from the depths of the mid 90s, but since I bought these SFHs, prices have almost doubled again.

By the way, High Park area is not central at all. I went to Annette Public School for a couple years so I do have an idea. The new station at Dundas West / GO Bloor Station should be interesting when the airport express comes in, but it’s still a commuter bedroom community at best. And Rosedale is bo-oring, no shops / mixed use, with only the Summerhill LCBO for solace and way too white bread / Canadiana for me, a child of this colorful city.

For all you haters out there, just count the number of red dots east of Bathurst, south of Dupont, and especially that golden rectangle bounded by Spadina, College, University and Dundas (e.g. Baldwin Village) , directly south of U of T. Even half-decent listings are seldom seen once a month. Whenever anything comes up, a sale is almost guaranteed within days. I am a derivatives trader, and in our markets we call this a supply-demand imbalance, which will only inevitably clear higher.

I know the agent (I have bought from their firm before), it is no surprise that one of his clients won in cloak and daggers fashion. Blog dogs and Garth Turner acolytes are denying the fact that $1.3m is now the new market price despite being told so by Mr. Market himself! The reality is that many of the other bids would have paid even more than $1.308 if they had the chance. In the markets we call this “bid on”. Alas there is only one 3 Ross St, so the other 26 bids will have to wait like wolves hunting for the next offer. This is the reality. The next time a nice house comes on sale on Henry, Cecil, Huron, Baldwin, Beverley, D’Arcy, Ross, McCaul etc it could be $1.5 million. Simple supply and demand folks. Hasn’t Smoking Man taught you all? The law of the jungle! It’s a free market, and I see little to prevent average prices from hitting $2 million in Baldwin Village within the next 5-10 years. Some larger houses on Huron and Beverley have already sold for that much.

At least God has had mercy on renters, as there is no way of being directly short the housing market any more than being short the roof over your head (as every non-property owning renter is–which in many cultures is a state of depravity from which most aspire to “cover” this short position with a roof to call their own). If Garth and his followers put their money where their mouth is and actually shorted this market on margin, we could well see the mother of all squeezes, one to put Herbalife and Volkswagen to shame! A smaller version of this we are already seeing, at least in downtown T.O., as the winter weather thaws away we could well see M5R M5S M5T prices shunt higher as support offers become support bids, and the 2014 market begins in earnest.

Your faithful servant,

LH

#128 rb on 03.01.14 at 2:50 am

Carl should find his balls and tell his wife NO we cannot afford this overpriced house, PERIOD. Dude is an accountant, he is supposed to know the numbers…. and as smoking man says, she is a teacher.. numb to logic.

#129 Longterm on 03.01.14 at 3:14 am

#63 Rexx Rock on 02.28.14 at 9:23 pm

Do it mate. The hardest part isn’t the financial end but rather the decision. Most Canadians live in a suburban dream handed to them by their parents and society. They drift from high school to university to a job and a house in the same dull place. Then they accumulate stuff, get a bigger house to store it, bury their dreams in the face of ‘reality’ and get older and ever more conservative and set in their ways.

Break the mould, Ditch your job, set up your finances and go have an experience. What’s the worst case scenario? You have a few great months, decide it isn’t for you long term, move back to Canada and pick up where you left off. More likely you will love it or adopt a part time lifestyle in the sun, or set up a business or learn Spanish or find a partner or any number of other great outcomes.

Live your life mate.

#130 KWkid on 03.01.14 at 3:22 am

Carl I hope you are at least running a home business on the side preparing people’s personal income and small business taxes. You could then lease a car and write that off as a business expense. Plus, the home office entitles you to write off a portion of the interest on your mortgage and any supplies. Can you write off a bathroom remodel? I don’t know but you should probably talk with your accountant to be certain. Always seek professional accounting advice on any tax write-offs but you probably already knew that.

Note to Self: Do not hire Carl as your accountant.

Sober wisdom is lost on a generation drunk on excess debt

#131 Happy Renting on 03.01.14 at 3:49 am

#23 Derek R on 02.28.14 at 7:49 pm

I read the original letter and related comments. Thank you for the link.

Garth: real-life letter and outcome, illustrative and interesting. Great post.

Carl: first, the positive. You’re aware you overextended yourself by buying an expensive house. But you’ve both done the responsible thing of cutting back expenditures and increasing income to cover your costs and save for retirement and daycare. Good. Better than maxing credit cards and a HELOC.

A LOT of commenters have made a snap decision about your then-fiancée (now-wife) being an entitled princess (to be fair, they could only go off the information you provided.) To her credit, you’re now married, you two significantly downsized the wedding and honeymoon, and you’re delaying children until you can afford them. Assuming she didn’t have to be coerced into all that, those are big sacrifices for the average woman to make, weddings and children being near and dear to their hearts. Tell me you mutually agreed on no expensive engagement ring and I will be very impressed.

(Context for other commenters: average Toronto wedding ~$25k. $50-100k not unheard of. Going into debt for the wedding is also pretty common. Total insanity is the norm.)

Your wife has a union job and a sweet pension, so you’ve got that security.

The negative of your situation is that you are giving up A LOT for that house. Your time, money, energy, and discipline are finite and your house is eating all of it, and will for years to come. You’re saddled with a huge, leveraged, undiversified, illiquid asset. If there’s a financial shock in the future you’re going to feel it, hard.

Since the RE party is still going, your house may have appreciated. Run the numbers and consider selling it. Tell your wife you’re realizing profits from your investment. Show her how selling means you can quit your second jobs, stop taking the horrible TTC, have that second honeymoon in Tahiti right now and make a baby while you’re there.

Thanks for writing in (twice) so we have something to read.

#132 Say no to Yoga pants on 03.01.14 at 5:04 am

‘One thing I have come away with over the last 7 years is that no one knows, not even the great GT, knows the future.’

Like, did you read the post. Couple with 130K/year sells condo, rents for a bit, buys house and…

‘The cost of this house? All their cash, plus a $500,000 mortgage. No more car. Two extra jobs. Canadian Tire marriage. Guy in the basement. No family. Lots of attitude. And she’s 18 months closer to wanting a bigger place.’

Working more, gaining less…..I dunno sounds like a trap to me.

#133 Fortune500 on 03.01.14 at 6:09 am

Rexx Rock, I hear ya. We are looking into Ecuador or maybe Panama. Then again, we have been expats before and are not opposed to alternative living arrangements if Canada stays on this tack. At the moment it seems that everything is aligned to keep housing prices high. It certainly benefits the government and all the homeowners who got in before 2006 are happy little voters. Why rock the boat? I don’t see interest rates rising significantly for at least 5 more years. And even then, i don’t see this mentality changing …

The problem with traveling and living abroad is that it gives you perspective and takes you out of the bubble. We love the country we were both born and raised in, but when a basic ‘home’ in the countryside is 4, 5, 6, times the household income, it stops making sense.

We have too many Irish, Spanish, Greek, American, etc friends to believe the ‘its different here’ mentality. We don’t want to spend our lives living for a mortgage and worshiping houses. Especially in the dead of winter when your heating bills are unexpectedly skyrocketing.

Life is too short and this has gone on too long for many of us to wait. Time for a plan B. We will still enjoy visiting though. Probably in the summers … in cottage country.

#134 devore on 03.01.14 at 6:10 am

Delaying having kids? But I thought only renters were putting their lives on hold?

#135 TheCatFoodLady on 03.01.14 at 6:44 am

That’s a fair bit of anger for someone who claims to be ‘much happier’.

Carl uses the terms ‘overvalued’ & ‘overextended’, tells us he’s an accountant then dares uses the term ‘discipline’ as well?

Clearly they love that house dearly. They’d better as it sounds from here as though they’ve given up any semblance of a life in order to hang on to it.

#136 World Traveller on 03.01.14 at 7:53 am

Wow, all that sacrifice for a pile of bricks in an average city in an average area.
Carl, my friend, this is no way to live life, I worked at two jobs for two years of my life, I was working every day and every evening Mon-Fri and some Saturdays, I lasted barely two years and decided to find a better job and reassessed my expenses. Chances are you will have to do the same, what you are doing is not sustainable and certainly not worth it to say you are a “homeowner”. If the wife does not agree to sell the house and re-evaluate your life path, I suggest bringing the hammer down. If you don’t you are going to be a very unhappy man for a long time, especially when kids come into the picture.
As others have mentioned about not having a car, it is not about that, many people in Toronto don’t have a car (and rent too, so they are saving major $$$$). This is about ensuring your future and having something left at the end of the party.
Take my words for what they are worth, or tell me to “eff” myself as well.

#137 sheane wallace on 03.01.14 at 7:55 am

attitude
clueless
arrogance
no kids but a house
servant of a bank

how Canadian,
it surely melts Steve’s heart.

#138 Why? on 03.01.14 at 8:25 am

Why are they placing the house above all else?
Truly, ‘owning’ a house is a religion here.

No kids, not stuck, skilled (if senseless). They have so
many options but are blinded by their ‘faith.’

#139 maxx on 03.01.14 at 8:32 am

What’s the next step? Eating oatmeal for 25 years to make the payments? They’ve already forfeited most of their life choices, including time to have a life together.

They’ve also traded paying “someone else’s mortgage” for paying the bank a huge and unpredictable amount of interest as well as having lost the opportunity to prepare for the future (so that AFTER the 25 years of eating oatmeal, they’ll eat oatmeal in retirement as well). If they think that things are challenging now…better not lose those part-time jobs, let alone the full time ones.

…and by extension, there will be no travel, gifts, meals out with friends…..

Accountant. And teacher. Yikes.

#140 Just some guy on 03.01.14 at 9:08 am

Garth, you always manage to paint a really interesting portrait of the people you profile – good work.

Buddy with the attitude is in for a world of hurt, methinks, especially when his beloved responds to the ticking of her biological clock. I admire his perseverance but I doubt that there will be a happy outcome.

I wonder if the “bridezilla” factor plays a role in the indebtedness of many couples these days? I admire that attempt made by the couple to reduce their expenses. But surely the bride and groom (or should I say gloom) have to realize that the model life they have in mind is probably one that is based mostly on the expectations of others, foisted on them by parents, family, and friends not to mention the army of advertisers that steadily bombard us to buy their wares.

It is all too easy to be crucified upon the cross of other’s expectations.

I still think that you and the Jar Lady should consider a joint venture TV program. It could have different themes. Vikings seem to be very popular right now. You could play the role of the stern overlord, the JL as a shield maiden (suitably attired in chain mail, a breastplate, and one of those horned, bucket helmets). There could be modern day concessions of course – surely any viking of stature would have ridden in on a Harley.

And of course what would any viking saga be without a berserker? This could be the debut of Smoking Man, ready to rip his shirt off at the slightest provocation and to smite any monsters (real or imagined as may be the case).

The possibilities are endless!

#141 Smoking Man on 03.01.14 at 9:22 am

#138 sheane wallace on 03.01.14 at 7:55 amservant of a bank

how Canadian,
it surely melts Steve’s heart.
…………

This is Canadian..

Dear diary I hate to bother you, would you mind if I made an entry..

#142 Daisy Mae on 03.01.14 at 10:01 am

What boggles my mind is that we keep selling houses to each other, apparently every five years on average. And the many costs associated with that. Most notably, the land transfer taxes…which go directly into government coffers. In Ontario they gotcha coming and going.

No wonder the feds won’t/don’t dampen the RE market. Far, far too lucrative. What fools we are.

#143 OttawaMike on 03.01.14 at 10:11 am

#126 Deep Blue on 03.01.14 at 2:13 am

Your comment hit the mark. We need to rethink the entire basis of our immigration system.

My point goes back to areas of evidenced based skill shortages: such as Doctors or experienced engineers.
Surely we can find a way, like the Americans have, to fast track a newcomer’s professional license conversion?

The wait time for a dermatologist and orthopedic surgeon here in Ottawa is over 1 year. India has some of the best hospitals in the world but there is no easy way for an Indian Dr. to transfer his practice here.

The unskilled immigrant is a whole other debate. Tens of thousands newcomers were brought here over the past 20 years without a plan and then warehoused in public housing complexes such as the infamous Dixon corridor. Our governments then feign surprise at the crime and social ills that have resulted.

#144 Rapier Wit on 03.01.14 at 10:34 am

https://www.google.com/search?q=in+the+long+run+the+car+is+cheaper&client=firefox-a&hs=oH7&rls=org.mozilla:en-US:official&channel=sb&source=lnms&tbm=isch&sa=X&ei=U-8RU7PEK8iWyAGx34CoAQ&ved=0CAoQ_AUoAg&biw=1384&bih=883#facrc=_&imgdii=_&imgrc=qAT-chElvtf4hM%253A%3B-SUS-rjl8g6gNM%3Bhttp%253A%252F%252Fwww.motivateusnot.com%252Fresize.php%253Fname%253DLzM3OC9GaW5hbmNpYWwtcGxhbm5pbmctSW4tdGhlLWxvbmctdGVybSwtdGhlLWNhci13aWxsLWJlLWNoZWFwZXItNGIzYTdhOGQ1MDczZi5qcGc%253D%2526w%253D550%2526h%253D9999%2526extension%253D.jpg%3Bhttp%253A%252F%252Fwww.motivateusnot.com%252Fdemotivational-poster%252F2009%252F12%252F29%252FFinancial_planning-In_the_long_term_the_car_will_be_cheaper%3B500%3B375

#145 Kris on 03.01.14 at 10:35 am

Thought this post would be a detailed treatment of yesterday’s CMHC announcement – given as yesterday’s post only had guesses & speculations about it.

What’s to analyze? — Garth

#146 Bach Girl on 03.01.14 at 10:41 am

I think being able to sleep at night, is a viable option. Can’t even imagine that.

An accountant? Is that verified. Seems odd. Then again, alot of lawyers make zip. Hope I don’t get sick, worried about the capability of doctors now.

#147 Thornton Melon on 03.01.14 at 10:43 am

remember, the best thing about kids… is making them!

#148 Penny Henny on 03.01.14 at 10:47 am

Kinda spooky when you think about Carl’s situation. The guy in the basement is probably reading this right now. A basement dwelling Garth follower no doubt, most likely a bit unstable after watching GTA prices continuing to rise.

#149 the jaguar on 03.01.14 at 10:54 am

#126 Deep Blue…

You said it so well. All true. It seems the main reason the government brings in so many immigrants is so they can keep the economy going. New arrivals need “stuff”..houses, cars, other consumer goods.
Professionals aside, there are also lots of newcomers who simply do not speak English. Not sure what happens in Quebec, presumably many who also cannot speak French.

#150 lawboy on 03.01.14 at 11:31 am

Carl’s original post oozes condescension – he planned to ‘kick out the renter’ when kids come. Ha. It seems that the renters are voting with their feet – he’s had to re-rent the basement to someone else, judging by the increase in rent. A few more turnovers of the basement and Carl is sure to have a tenant from hell. You can’t beat the odds forever…

#151 Kris on 03.01.14 at 11:57 am

#146 Kris
What’s to analyze? — Garth
——————————————-

The impact on the Spring market, for starters. Were the changes significant enough to prod buyers to come out like ‘locusts’, as you mused in yesterday’s post?

#152 DM in C on 03.01.14 at 12:09 pm

“The negative of your situation is that you are giving up A LOT for that house. Your time, money, energy, and discipline are finite and your house is eating all of it, and will for years to come. …….”

Don’t forget their youth. Wasted on two jobs, paying for an overpriced house that won’t be enough when kids come.

Here’s a secret, Carl. Kids don’t care what they live in — they only need food, shelter, clothes and loving parents. The rest is baloney.

Our oldest in 19 and his fondest memory is curled up on the couch with us with a bag of popcorn and watching The Lion King. And we were in a 2 bedroom rental. The horror!

#153 i.see.debt.people on 03.01.14 at 12:21 pm

…and Carl is it! lol pwned by the House. and worse, it’s only a semi-detached house.

#154 erebus on 03.01.14 at 12:26 pm

I am still recovering from that amazing discharge of schadenfreude that your story gave me Carl. For that I thank you very very much. What a great way to start the day.

#155 BCD (D for Daturday) on 03.01.14 at 12:47 pm

#117 NS in Calgary on 03.01.14 at 1:35 am
Wow! An accountant and a teacher. This is what so called educated people do? They call this a life? No wonder I find the education system so lacking.
_____________________________________________

Not everyone who is an accountant or a teacher does THIS. Carl may be a financial idiot, but he also has a plan and an education–and education that no one will ever take away from him. When you are in love you do stupid things to please a woman–clearly he’s trying to make it work.

The people flinging mud at teachers should spend a day in a classroom with 30 hormonal teenagers with smartphones and see how good they’d be at maintaining a captive audience.

#156 airhead princess on 03.01.14 at 12:48 pm

No kidding…..”155 erebus on 03.01.14 at 12:26 pm

I am still recovering from that amazing discharge of schadenfreude that your story gave me Carl. For that I thank you very very much. What a great way to start the day.”

I can watch people acting stupid all day long….it affirms my faith in myself and my own decisions. I will go to the pool and read the paper in a few minutes…it’s 80 degrees here. Why anyone would ‘fight logic’ to buy into a crap hole like Toronto defies any common sense.

Its why I made thousands yesterday when the index went down….good stock picking prevails over passive investing every time. Guys like Carl are the second lowest common denominator ….the bottom of the barrel is the elite civil servants who buy real estate regardless of price because they can spend more because of lower taxation ( subsidized pensions and perks) and the backstop of a luxury DB pension while others have to save. Right down there is the HAM and other international scammers who are laundering ill gotten untaxed gains in Canada any way they can….whereas Canadians are put ata huge disadvantage having to puke up 80% of their income in direct and indirect taxation before they get to spend a dime on shelter and food.

#157 GsAmazon on 03.01.14 at 12:52 pm

Well said, Uncle Garth.

This story exemplifies “little success”…;)

#158 Scotts doing the Empire's dirty work on 03.01.14 at 12:56 pm

re: Crimean War

Here is painting by Robert Gibb, the original is on display at Edinburgh Castle.

http://upload.wikimedia.org/wikipedia/commons/0/0b/Robert_Gibb_-_The_Thin_Red_Line.jpg

#159 Lurker on 03.01.14 at 12:58 pm

#56 Not First

Imagine some night around tax season and Carl is pulling a late one doing returns and his wife is home alone with the guy in the basement.

Pretty soon Carl is moving into the basement and the guy moves upstairs. All of a sudden things get a LOT more expensive for poor Carl.
————————

This happened to acquaintances of my wife about 10 years ago… the female basement tenant hooked up with the husband upstairs and the wife got the boot. Really.

#160 BCD (D for Daturday) on 03.01.14 at 1:01 pm

#128 LH on 03.01.14 at 2:27 am

Being young (still under 30, but just barely), I got my start in 2006, and continued buying SFH’s at the average pace of one house bagged per year.
_____________________________________________

I wish I would have done this. When we bought our house I should have split the 30% down payment we had and purchased 1 or 2 more. . .and then leveraged up. We’d be up an entire house or two by now.

My neighbor was a house fixer-flipper and he purchased the lot next door for 500K put in less then 100K and flipped it for $700k. They had a kid at the time and the woman would lock sultry eyes with me every once in awhile out the bathroom window when I was working the yard. I got the sense she was a little sad. . .they had a kid, great home in a great neighborhood that she had to leave. . .husband a blue collar labourer that ignored her. . .picking up and moving all the time to make a buck isn’t for everyone.

I was raised to lay down roots and be risk averse. . .and it helps me to sleep at night knowing I am not in the money game. . .I’ve got nothing to lose if real estate crashes since I plan to live in the house we are in. . .and I’ve got nothing to lose if the stock market tanks either.

Life is short. . .

#161 rosie "moving forward" in the knowledge that, "this won't end well" on 03.01.14 at 1:05 pm

Greater fool me once…

http://finance.yahoo.com/news/americans-lose-interest-in-owning-a-home-210647970.html?source=Patrick.net

#162 NS in Calgary on 03.01.14 at 1:09 pm

#132 Happy Renting – Thanks for a more balanced perspective. It is good to hear another view.

#163 DR on 03.01.14 at 1:10 pm

LH I hear you I followed the same pattern.
Different areas same results.
Bank sales, estate sales, company sales and regular sales. Anyone could have bought what I did. I just happened to get them.

Interesting to see the prices and what they are selling for yet hearing that prices will drop.
There are no red dots on the map around U of T
Robert St (rowhouse), sold 1.161. Not even close to the same house as Ross.
I don’t know about people paying more than the sale price. You think it will go to 2 mil for this same style home?
The really big ones get that now you were saying and detached.

#164 TurnerNation on 03.01.14 at 1:22 pm

Life in Canada:

http://themetapicture.com/canada-the-only-place-youll-see-something-like-this/

More silly semis in Freedville (condoville). Like facing the arse end of a hotel/condo complex with another one being under construction 25 feet away? 1.5m.

http://www.realtor.ca/propertyDetails.aspx?propertyId=14110028&PidKey=-30454992

#165 TurnerNation on 03.01.14 at 1:31 pm

Aggregator

Interesting a Quiznos near me just shut down lastmonth. I never eat ‘fast food’ chains anyway prefer the small independent places.

#166 Ralph Cramdown on 03.01.14 at 1:38 pm

The Leverage Cycle, by John Geanakoplos

“Equilibrium determines leverage, not just interest rates. Variations in leverage cause fluctuations in asset prices.”

Fascinating economics paper modelling house prices given varying views on future house prices, showing how few people need to be optimistic to drive prices up.

Interestingly, he theorizes that the US crash may have been triggered by the introduction of credit default swaps on subprime mortgage backed securities, and magnified by the existence of a repo market for those securities. Since neither of these factors are present in Canada to any great degree (as far as I know, much of Canada’s subprime is either guaranteed by CMHC or held on the books of our subprime lenders), this represents a significant difference between the Canadian and US markets.

If calculus makes your eyes glaze over, yopu can skip the math and still learn a lot.

http://cowles.econ.yale.edu/P/cd/d17a/d1715-r.pdf‎

I note that the Canadian housing optimists here and elsewhere are back in mania mode; last year it was talk of soft landings and how prices won’t drop, but now we’re back to tales of prices growing to the sky.

#167 Ralph Cramdown on 03.01.14 at 1:40 pm

Sorry, bad link above. http://cowles.econ.yale.edu/~gean/art/p1304.pdf

#168 Ralph Cramdown on 03.01.14 at 1:51 pm

#161 BCD — “I wish I would have done this. When we bought our house I should have split the 30% down payment we had and purchased 1 or 2 more. . .and then leveraged up. We’d be up an entire house or two by now.”

When I was young, I briefly rented a bedroom from a guy who’d made a bit of money on a rural land deal, and wanted to buy a townhouse in Mississauga with the down payment. The agent said “with that downpayment, you could buy TWO townhouses,” so our intrepid investor proceeded to do just that. By the time I came on the scene he’d managed to unload one and was desperately trying to get rid of the other, with a leaky roof, a special assessment coming up to fix said roof and a market, in the fall of 1990, that was rapidly turning to crap. Good times.

#169 World According To Garth on 03.01.14 at 1:58 pm

Gun confiscation in Kanaduhhhh by UN-elected govt pencil pushers. Welcome to Kanaduhhhh.

http://www.outdoorsmenforum.ca/showthread.php?p=2343150

#170 Tiger on 03.01.14 at 1:59 pm

# 101 stupid!
Agree 100% smoking man is stupid!
You not so.
Carl is stupid, I sold when he purchased, should only be mad at your self bro, blaming other people , makes you look stupider, I never met you, but I do know what you look like , renter new x wife = disaster ! Your to tired work over load , stress, wow huge mortage, cranky abusive, idiot, realize what a eff I am, gro up effer , nope you are dun, wel dun, disgusting to say the least!
Throw you a toonie in two years time past!
Good luck, effer<
What do I know , Ime only a 1% er in Canada !

#171 TnT on 03.01.14 at 2:03 pm

Funny… for 8 years and counting you’ve been admittedly wrong on Real Estate

Carl’s house is making him $830.00 a month

Mortgage is dirt cheap and will be for a long time

Teacher has the best protected pension in North America

Upper Beaches is top notch for families and can’t beat the price for all the amenities here… Parks, Water front, Go Trains, Subway, Street Cars, Buses, stores, restaurants, best Public Schools etc…

Summers off to enjoy the neighborhood

Car is not needed in these parts

Alternative would be to rent, own cars and spend the extra money on “stuff” (Carl is not an investor so let’s not pretend that was ever an option)…

AND….

Carl picked a great neighborhood and can always dump the house if need be…

Carl’s semi is costing him $3,500 a month plus many sacrifices. His mortgage will renew at higher cost. He is dangerously undiversified. And you obviously have never lived in the hood. — Garth

#172 Paully on 03.01.14 at 2:44 pm

Carl should list the house right away and take advantage of the crazy multiple-offers and ridiculous sale prices that are happening right now. Some crazed kids with lots of credit and no cash could turn his mistake into a big windfall!

Carl, you are sitting on a crate of lemons there. It’s time to make some lemonade!

#173 Blacksheep on 03.01.14 at 3:11 pm

World According To Garth # 170,

Gun confiscation in Kanaduhhhh by UN-elected govt pencil pushers. Welcome to Kanaduhhhh.
http://www.outdoorsmenforum.ca/showthread.php?p=2343150
—————————————————-
What a shame.

Beautiful machining on these rifles, almost bought one, but reality is you can buy three, mint laminate stock SKS’s, for the price of one of these.

I can think of a few other firearms that could fall into this same grey area of legality that could be subject to reclassification. Rules are changing, sell em now boys.

#174 Aggregator on 03.01.14 at 3:16 pm

Weekend Watch: Full BBC Doc: How China Fooled The World With Robert Peston

Robert Peston: Give me an idea of the scale of the lending that we've seen since 2008.

Charlene Chu (Senior Director, Fitch 2008-2014): It's off the charts really. Most people are aware we've got a credit boom in China, but they don't know the scale. At the beginning of all of this in 2008, the Chinese banking sector was roughly $10 trillion US dollar, in size. Right now it's on the order of $24-25 trillion U.S. dollars. That incremental increase of $14-15 trillion U.S. dollars, is the equivalent to the size of the entire U.S. commercial banking sector, which took more then a century to build. So that means, China will have replicated the entire U.S. system in a span of half a decade.

Watch it because this is going to affect each and every one of us.

#175 Plum Sauce on 03.01.14 at 3:17 pm

Longtime lurker compelled to write in response to LH.

Though happily and profitably renting, my partner and I do watch M5T listings given the 5 minute walk-to-work factor for both of us, despite our working in different workplaces. Our experience with listings is nothing like yours: some stuff there sells quickly, others sells under asking (sometimes remarkably so), some languishes (in one case we know for literally years), and some gets yanked off the market when sellers overreach.

Lots of the houses are so problematic — wiring, structural issues, and other major problems — that they are effectively tear downs, even though they’ve been superficially tarted up into hipster palaces when staged for the market. Plus, the desirability of the M5T neighbourhood as a residential neighbourhood may be reduced if/when U of T builds a new residence tower just south of College, if the rumours to that effect are true; we became immediately uninterested in a house on Huron near College a year or so ago when a friend who teaches at U of T suggested we might be living right next to zillions of undergrads in a few short years…

Hard to believe that, as a derivatives trader, there aren’t easier ways for you to make money.

#176 Smoking Man on 03.01.14 at 3:20 pm

#171 Tiger on 03.01.14 at 1:59 pm

Rotflmao. 1% er, 1% don’t hang out in chat rooms less they have serious mental issues and are building a base for a book release.

The fact that you call yourself tiger means you’re probably a 30ish story bald man living in mom’s basement.. Trying to project an image of toughness as all dwarfs do.

I all ready made the rich part, and about to become famous. When I do, you can tell all your short friends your smokys buddy, hell I will even allow you to be in a photo with me.

See I have nice side…..

#177 KommyKim on 03.01.14 at 3:21 pm

RE: #123 calgaryPhantom on 03.01.14 at 1:58 am
“ETF” you Garth

That’s exactly what I thought I saw when I first read it in a sleepy haze.

#178 KommyKim on 03.01.14 at 3:28 pm

RE #170 World According To Garth on 03.01.14 at 1:58 pm
Gun confiscation in Kanaduhhhh by UN-elected govt pencil pushers. Welcome to Kanaduhhhh.

Sorry, but the gun confiscation has been mandated by ELECTED govt pencil pushers. The UN-elected govt pencil pushers enforce the LAW. Yes the LAW, which right wingers love. The rule of LAW! Throw the LAW breakers in jail! Minimum mandatory sentences for LAW breaking gun nutters!

#179 Snowboid on 03.01.14 at 3:34 pm

#127 Cy Young on 03.01.14 at 2:26 am…

Or like this?

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

Not funny enough? How about this slick father/son comedian team from Kelowna?

http://www.youtube.com/watch?v=FUmJSHNbFG4

#180 TnT on 03.01.14 at 3:47 pm

Carl’s semi is costing him $3,500 a month plus many sacrifices. His mortgage will renew at higher cost. He is dangerously undiversified. And you obviously have never lived in the hood. — Garth

****

Been renting here for 2 years with 3 kids and a dog…
Grew up just north of here at Main and Danforth.

I know the schools from K to 12
I know the shop owners, the neighbors, the streets and the value.

I just spent the morning walking my dog on the beach with a great dark roast from an independent coffee shop on Queen. Beach is filled with dog owners all year long, bring Bandit by and check for yourself.

Walking from my place…
5 minute walk to Danforth GO Station, 15 minute walk to shops on Queen Street, 10 minute walk to Main Street Station, 2 minute walk to any Street Car or Bus, 5 minutes to scores of restaurants and pubs, 20 minute walk to The Beach and Boardwalk. Smack dab between Kingston Rd, Gerrard, Main ST and Victoria Park.

Local Public school (K to 6) is expanding due to the increase of families moving into the neighborhood.

Check Frasier Report for school ratings in this neighborhood.… even the High School is top notch, you would have to spend well over a million to get the same high school quality in other neighborhoods. Tons of after school programs, no issues, all affluent families.

Driving
I drive to St Lawrence Market every Saturday morning, Kingston turns into Eastern turns into Front ST – 10 minutes

Kingston to Dundas to Eaton Center, Art Gallery, Chinatown, Kensington – 20 minutes

Commuting to York Region from this area is great as you’re always going against traffic.

Weekends are spent with family bike rides to Central Island using the Martin Goodman Trail, Baseball leagues everywhere, Ice Rink down the street, dog friendly, family oriented etc. etc. etc…..

Week nights are spent walking the boardwalk and shops on Queen all year long, safe and best place in T.O if you like water…

Carl is spending $3500 a month, that’s “chump change” for what he’s getting and his sacrifices are nothing but short term pains for long term gains.

Best part of this neighborhood is the great families that make up this community with a more artsy bohemian vibe compared to the more conservative Leaside.

There’s very few places in this big city that offer such a variety of amenities for under $700 K

And you say you rent. Interesting. — Garth

#181 Smoking Man on 03.01.14 at 3:55 pm

Ying Yang, if you make it cross the Niagara river, tall bald dude, shades and white Tommy Hill figure sneakers..

#182 Exilled on 03.01.14 at 3:55 pm

Mr Turner: Is this story of today about our own Neocon, Harper troll, Toronto CA? (2) Smokingman, Handsome Family is noncommercial FOLK music. Alas our beloved Led Zepplin was commercial music right the start. Manufactured by big music. If you want more and better try the Hillside Festival in Guelph, oh sorry, it sold out in one Hr. The biggest names in music will be there, for inspiration!!

#183 TnT on 03.01.14 at 4:05 pm

And you say you rent. Interesting. — Garth

**********

I wrote a novel and you focus on the first line to divert the dialog?…

$640 K for a completely done semi in this neighborhood is good value for this market.

I’m waiting for my 3rd fixer upper as I have more faith in my reno skills and this neighborhood than my investing skills…

#184 TheCatFoodLady on 03.01.14 at 4:11 pm

#141 – Just some guy: Thinking about your post & visualizing some of the concepts cost me what little credibility I have at my local No Frills today. I was stuck in a long line at the checkout & had forgotten a paperback. I got to thinking of Garth & Gail V-O as financial Vikings. There it was, clear in my mind… Gaarth EeTeFsson, plaited beard & tribal tats, on his sturdy fat tail steed, heroically leaping, all steely eyed & grim of jaw & such over the gory, slaughtered bodies of mutual fund managers. In the distance up the beach Gail Cash’sdottir presided over the funeral pyre of slaughtered credit cards, cackling maniacally. Come to think of it, in breast plate & wielding her spending axe, she was more frightening than Garth.

I started giggling – the kind of giggle that just becomes worse the harder you try to stop it. I was a mess by the time I got to the cash & getting more than a few strange looks.

#66 – Jan: it’s sad to think that any modern ‘girl’ would be as vacuous as to equate owning with winning & renting with losing. To my mind, there’s a hell of a lot more instability & future risk in someone who’s mortgaged up to the gonads with no other asset than someone with a plan; where part of that plan includes renting until one can reasonably afford something more or because they may to move at short notice to a better job.

#185 World According To Garth on 03.01.14 at 4:18 pm

You are partly true. And we don’t have elected govt. we have one party elected dictator who is quietly told by his controllers (bankers and corporate leaders) ” this is the way it is”. Anyone with half a brain knows there is no democracy in Kanaduhhhh.

In this case though it’s UN-elected pencil pushers making decisions on guns they know nothing about for the sole purpose of gun confiscation by “frog in the pot” method. There is no ballistical difference between how any semi auto works. But yet pencil pushers say ” dats legal and dats not”. Welcome to Kanaduhhhh.

#179 KommyKim on 03.01.14 at 3:28 pm
RE #170 World According To Garth on 03.01.14 at 1:58 pm
Gun confiscation in Kanaduhhhh by UN-elected govt pencil pushers. Welcome to Kanaduhhhh.

Sorry, but the gun confiscation has been mandated by ELECTED govt pencil pushers. The UN-elected govt pencil pushers enforce the LAW. Yes the LAW, which right wingers love. The rule of LAW! Throw the LAW breakers in jail! Minimum mandatory sentences for LAW breaking gun nutters!

#186 4 AM Sunrise on 03.01.14 at 4:24 pm

#185 TheCatFoodLady on 03.01.14 at 4:11 pm

Is it any surprise that the modern golddigger starts a conversation with a man with, “so, like, do you own or rent?”, in a society that discourages women from learning about money?

#187 jess on 03.01.14 at 4:38 pm

…”Work by the Ukrainian investigative journalist, Sergii Leshchenko and the Ukrainian Anti-Corruption Action Centre has revealed that the palace compound was, until September last year, one-third owned by an anonymous UK shell company and two-thirds owned by an Austrian bank. In other words, the ownership structure of the palace hid the identity of the true owner.

Global Witness worked with the Ukrainian NGO to get this story out in the UK press; it was published today by the Daily Mail.

http://www.globalwitness.org/blog/?p=97
Anonymous UK company owned Viktor Yanukovych’s presidential palace compound

Rosie Sharpe

#188 jess on 03.01.14 at 4:42 pm

Here’s the full evidence chain for those of you who want the details

Yanukovich’s official private residence is known as Mezhyhirya. Before September 2013, this is how the palace was owned:

•The palace used to be state owned and used by the president – a so-called ‘dacha’;
•Ukrainian sources tell us that while Yanukovych was Prime Minister (but a few months before he became president) the palace was acquired without any competitive tendering process by a Ukrainian company called MedInvestTraid which immediately resold it.
•The palace was bought by a Ukrainian company called Tantalit.
•After acquiring the residence Tantalit was granted permission to rent 129 hectares of land from the local government council[5] for a nominal rent (4 UAH (22 pence) per 0.1 hectare[6]. Ukrainian sources tell us that the market price of that land, to buy, would be between $3,000 and $10,000 per 0.1 hectare). Tantalit has a 49 year lease, with rights to buy after the lease finishes.[7]
•Between 2007 – 2011 there was a lot of construction at Mezhyhirya. The old houses of the former state-owned residence were demolished and new buildings were constructed.
•Tantalit is in turn 99.97% owned by an Austrian company called Euro East Beteiligungs GmbH[8]
•Euro East Beteiligungs is 35% owned by a British company called Blythe (Europe) Ltd and 65% owned by an Austrian bank called Euro Invest Bank AG. [9]
•Blythe (Europe) Ltd is a dormant company. According to its latest accounts sent to Companies House (from June 2012), its balance consisted of the issuance of £1000 of shares and nothing else.[10] In Global Witness’ view, this makes it a shell company.
•The director of Blythe (Europe) Ltd is an Austrian called Dr. Reinhard Proksch. His address is Stocklerweg 1, Vaduz, Liechtenstein.[11]
•Blythe (Europe) is 100% owned by a Liechtenstein trust P&A Corporate Services Trust. The address of the trust is Stocklerweg 1, Vaduz, Liechtenstein (the same address as the director of Blythe). [12]
•There is, of course, no information available on who’s behind the Liechtenstein trust.
Ukrainian sources tell us that in Sept 2013 Euro East Beteiligungs sold Tantalit to a Ukrainian MP from the same party as Yanukovych called Sergey Klyuyev for 147 million UAH (£8.7m). This raises questions about where this money is now.

#189 Old Man on 03.01.14 at 4:48 pm

The beaches area many years ago was a cool place, but changed drastically over time; never liked the upper part, as the lower area south of queen near the park and the lake on certain streets had better investment value. Almost bought a nice home beside the park on a dead end street for $47,000 with a gal who had ideas of marriage. She was a young woman of means and was willing to pay cash for us, but could not accept this arrangement – no deal! Today would never buy in the beaches area, as it has become a three ring circus with events, traffic congestion, and crowds of people walking aimlessly about in a state of confusion. There are better options that have positive attributes that need to be explored and the beaches area is not one of them.

#190 airhead princess on 03.01.14 at 4:59 pm

” #188 jess on 03.01.14 at 4:38 pm

…”Work by the Ukrainian investigative journalist, Sergii Leshchenko and the Ukrainian Anti-Corruption Action Centre ”

In other words ‘persons with an axe to grind and profit to make by fostering a revolution’. Anti corruption Center sounds like ‘Ready for Hillary’ or ‘ Young Liberals’ or any one of the groups who foster dissent to try and achieve their own political ends.

Canada has no place or opinion in the Ukraine. It would be like the US manning the borders of Quebec.

What is best about all the goings on is seeing Obozo getting publicly kicked in the nutz….again. What an incompetent politically correct boob. The problem with allowing him to finish his term in office is that his weakness and anti American bent will make the world a more dangerous place for all of us. Time to realize that people like Obozo, Mullah Mulcair and Justin0the fairy Princess is that the world is not singing along to the Kum By Yah meme. I f western civilization is lost the world will descend into chaos….like it or not.

#191 Suede on 03.01.14 at 5:59 pm

Hey Carl,

For those about to rock (bottom)….we salute you

#192 Just some guy on 03.01.14 at 6:01 pm

#185 TheCatFoodLady

I am glad you found it funny. Thanks for sharing those images – hilarious!

#193 Freedom First on 03.01.14 at 6:08 pm

#99 Cici

Thank you! And Cici, nice of you to wish Carl luck in your previous post while at the same time giving him an honest message he so dearly needs to hear. Perfect.

#194 Mark on 03.01.14 at 6:13 pm

“My point goes back to areas of evidenced based skill shortages: such as Doctors or experienced engineers.”

There are no shortages of engineers in Canada, experienced or otherwise. And if foreigners are ‘fast-tracked’, that throws a lot of domestic talent without experience “under the bus”. Terrible suggestion.

#195 Realtor #1 GTA on 03.01.14 at 6:59 pm

I like the way you made their combined salary fit your mathematical equation.

A teacher and accountant would make closer to 180k.

I have clients that are two teachers and they make 170K
Top teacher salary is 93K!

Carl stated his salary, not me. — Garth

#196 Victor V on 03.01.14 at 7:00 pm

Bitcoin Kingpin Admits Everyone’s Money Is Gone

http://valleywag.gawker.com/bitcoin-kingpin-admits-everyones-money-is-gone-1533315083

#197 Stickler on 03.01.14 at 7:19 pm

@ #156 BCD (D for Daturday) on 03.01.14 at 12:47 pm

“The people flinging mud at teachers should spend a day in a classroom with 30 hormonal teenagers with smartphones and see how good they’d be at maintaining a captive audience.”

No one said being a teacher is bad. They said she is not smart.

You think being a teacher is tough, try getting called at 3am unexpectedly and then having to work 3 days straight to fix complicated production issues…
with no extra pay because you are on salary.

There is no comparison. Sorry.

#198 Pope Snugglebums 666 (aka Nosty) on 03.01.14 at 7:31 pm

#191 airhead princess on 03.01.14 at 4:59 pm — “I f western civilization is lost the world will descend into chaos….like it or not.”

The world is already in chaos, so nicely summed up. Here is a solid reason for adding to the confusion.

There’s a weird smell around, like a Property Crash, but Rome is handed a bailout by the Infernal M-F’s.

#199 KommyKim on 03.01.14 at 7:36 pm

RE: #186 World According To Garth on 03.01.14 at 4:18 pmThere is no ballistical difference between how any semi auto works. But yet pencil pushers say ” dats legal and dats not”.

A semi auto weapon is designed to kill human beings. It has no other function, period.
An automobile is designed to transport human beings in a safe manner. To drive a automobile you need to pass a test, get a license, register it, and have a minimum of 200K of liability insurance in case you accidentally kill someone with it.
Guns should, at a minimum, be treated the same way.

#200 Spectacle on 03.01.14 at 7:41 pm

Thanks for perseverance Garth.

Re: #189 jess on 03.01.14 at 4:42 pm
Here’s the full evidence chain for those of you who want the details
Yanukovich’s official private residence is known as Mezhyhirya. Before September 2013, this is how the palace was owned:

Thank You for this investigative trail on this evolving scandal. Note how significant London always is, and the Turkish banks! Putin has huge personal money stashed away in Turkish banks.

It’s the same Agenda to crush & impoverish the middle class. Like Carls of the world. Follow the money……always.

Regards

#201 raider on 03.01.14 at 7:57 pm

#35 I hear you!

Garth, it borders sadism to post their story to this audience.

If you think about it Carl, you only have one life and you already became cheap because of a house.

I married last year with about 1/4 of your income (PhD student … now graduated and running a business) and 4 times your initial savings (and all of it was worked hard for and properly invested based on Garths principles!). We got the State Winnery of the German province Saxony to host our event. We could invite all my friends from around the world and got guests from as far away as Singapore and Japan. The event was so memorable that our story even got covered by a Japanese Wedding magazine. All of it just under a budged of about 30k C$. This is something to remember….

How will you look back on your wedding and your house after it has lost value?

How will you look into your kids eyes and tell them how you screwed up?

You got advice from Garth, don’t kid yourself that makes it a decision not a mistake.

Oh, on top of that we’re happily renting a well maintained place. No snow shovelling, nice down-to-earth neighbours, good property maintenance … and no sense of false entitlement. We are coming closer to the point where our investments in ETFs, Preferreds, REITs, and some option trades cover our rent and living expenses. I am very happy to throw my rent at our property management company to be able to invest.

Btw. #195, a few qualified foreign people (e.g. like me), own businesses that employ qualified Canadians. Even if they do not directly generate jobs for Canadians, they spend their income in the greater economy, which again benefits (mostly) Canadian businesses. You cannot win with protectionism.

#202 Smoking Man on 03.01.14 at 8:05 pm

rs..

 Exilled on 03.01.14 at 3:55 pmMr Turner: Is this story of today about our own Neocon, Harper troll, Toronto CA? (2) Smokingman, Handsome Family is noncommercial FOLK music. Alas our beloved Led Zepplin was commercial music right the start. Manufactured by big music. If you want more and better try the Hillside Festival in Guelph, oh sorry, it sold out in one Hr. The biggest names in music will be there, for inspiration!!
………….

Not these guys, it’s Johnny Cash, Cohen, Cobain. Melted into a magical mix of weird……

All the teacher bashing I do here, you would think a noble, eloquent rebuttal. Either they agree with me, or, the teachers manual says when some figures out our evil, pretend they don’t exist..

Ignore them, hope they go away…. We no not how to debate logic.

Catherine Wynne is the personification of all I hate.

#203 Daisy Mae on 03.01.14 at 8:17 pm

#152 Kris: “Were the changes significant enough to prod buyers to come out like ‘locusts’…”

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

Of course…..and other than that, there’s nothing to discuss.

#204 Bargains everywhere on 03.01.14 at 8:49 pm

Imagine if Carl and his wife had taken part time jobs, gotten rid of their car and cut their expenses while still renting. If they had done that for a year or two they would have had a much larger down payment for a home and not been so strapped right now. I don’t understand the rush these days to have a house the moment you are first married.

#205 Daisy Mae on 03.01.14 at 8:51 pm

Know what? We may all go back to a ‘dirty thirties’ favorite saying:

“Use it up, wear it out, make it do, or do without’.

After all, what goes around comes around — history always seems to repeat.

#206 Bargains everywhere on 03.01.14 at 8:54 pm

#196 Realtor #1 GTA on 03.01.14 at 6:59 pm
Top teacher salary is $93K!

Which is why there is a push on to raise the ‘sunshine list’ reporting to $150K from $100K. It won’t be long before teachers hit $100K and then they will need an entire newspaper to publish all the names.

#207 Smoking Man on 03.01.14 at 9:35 pm

The has been wants to go. I say, my moter is broke, cow girl is the only way this is posable. I need some aspirin, and two expresso s

Or coke…….

She goes got some, as my broke wife shows up looking for slot machines fuel…..

Ahhhh not sure what to do here

#208 I didn't vote for the United Nations on 03.01.14 at 9:42 pm

@#186 World According To Garth

I understood Kommy Kim meant UN-elected referring to the United Nations. That is the agenda. In fact it’s their agenda that manifests in psyops: Australia, Scotland(Dunblaine), Sandy Hook, Columbine etc
always the same–

Mass shooting of children, an unbalanced psyco shooter, actors reading scripts, Cops and local authorities (freemasons) reading scripts, lying press.

Even McGinty was saluting Sandy Hook false flag and pledging Ontario tax dollars for ‘school security’ as he whimpered into the sunset.
The UN is 100% controlled by England, by number of votes with commonwealth votes included, so we know Harper will be leading the parade to grab guns

#209 BCD (D for Daturday) on 03.01.14 at 10:17 pm

#169 Ralph Cramdown on 03.01.14 at 1:51 pm
#161 BCD — “I wish I would have done this. When we bought our house I should have split the 30% down payment we had and purchased 1 or 2 more. . .and then leveraged up. We’d be up an entire house or two by now.”

When I was young, I briefly rented a bedroom from a guy who’d made a bit of money on a rural land deal, and wanted to buy a townhouse in Mississauga with the down payment. The agent said “with that downpayment, you could buy TWO townhouses,” so our intrepid investor proceeded to do just that. By the time I came on the scene he’d managed to unload one and was desperately trying to get rid of the other, with a leaky roof, a special assessment coming up to fix said roof and a market, in the fall of 1990, that was rapidly turning to crap. Good times.
___________________________________________

It doesn’t work for everyone. . .and when you get burned you can really get burned. . .but quite a few have made a killing this way.

Timing. . .life is all about timing and luck. Almost nothing else counts. I have considered myself to be a pretty lucky guy. What get’s me is when you see some of the filthy rich that are under the false impression that they did a TON to deserve their lot in life. . .truth is many were lucky. . .right place at the right time. . .all other things considered they were/are mediocre or worse. As I said once before–better to be lucky than good. . .in all things.

#210 Aggregator on 03.01.14 at 10:32 pm

WSJ: Canada Suspends Preparations for G-8 Summit, Recalls Envoy

Canadian Prime Minister Stephen Harper announced late Saturday that Canada has suspended its preparations for the Group of Eight summit in Sochi, Russia, and recalled its ambassador in Moscow in response to Russia’s military action in Ukraine.

“We join our allies in condemning in the strongest terms President [Vladimir] Putin’s military intervention in Ukraine,” Mr. Harper said in a statement. “These actions are a clear violation of Ukraine’s sovereignty and territorial integrity. They are also in violation of Russia’s obligations under international law.”

Mr. Harper, who spoke with U.S. President Barack Obama on Saturday, said Canada supports the immediate deployment of United Nations monitors in Ukraine and is discussing sending financial aid there. But Mr. Harper stopped short of promising any military aid, if that scenario should arise. “Should President Putin continue on this course of action, it will lead to ongoing negative consequences for our bilateral relationship,” Mr. Harper said.

—-

Too late Harper. Checkmate!

#211 gtrz4peace on 03.01.14 at 10:46 pm

#21 Ottawa Mike –

Bravo! As an immigrant to Canada, I have seen this SO many times. High-level professionals in their former country, physician credentials not recognized so they can be slaves here.

We escaped that because my husband is a teacher with a specialization, but it has still been very, very hard. Now to all those who say “what is wrong with renting”, well nothing is — but in our case, when we looked at selling our home last year we realized there was nothing we could rent that would come close to our home, without spending double per month!

In our case we have special enivronmental needs (can’t have carpeting, need low VOC paints, etc.) and a large dog.

We would like to see a more attractive rental market here in Vancouver’s North Shore, or we will stay in our home which we have set up just as we like and need it.

For now the rental market is also a problem for some of us, who don’t wish to pay twice as much with no control over things like decor, additions for EI illness, etc

#212 Smoking Man on 03.01.14 at 10:48 pm

Late late at night
24-hour store
Ghosts fly up the aisles
Across the shining floor
Opening and closing
Automatic doors
Hands waving mirrors
Angels fly through lights
But the sleepless and lost
Push their squeaking carts
Down the rows of clothes
And see nothing at all
No, no-one hears the singing bones
And no-one sees the crying ghosts
And everyone thinks I’m alone
All alone

But under concrete and steel
Linoleum floors
There is a fire that will never die
A golden wheel inside the world
A golden wheel in plastic and bows
In particles of light that fall from the sun
A river of candles tumbling in the dark
No, no-one hears the singing bones
And no-one sees the crying ghosts
And everyone thinks I’m alone
All alone

No, no-one hears the singing bones
And no-one sees the crying ghosts
And everyone thinks I’m alone
All alone
………
Not alone. Ginger next to me, how do I say..?

#213 LH on 03.01.14 at 10:59 pm

#164 DR
#176 Plum Sauce

You’ve just described the attraction, to me at least.
Maybe it’s that I’m only 7 years removed from my college days, but I actually for one like the idea of living next to young, intelligent, and attractive people (well, a subset of them at least). Also, as the country ages over the next half century, the last thing I want to be surrounded by in my sullen eld is other old people. This is another reason why the suburbs are so screwed. Nothing is as depressing as a geriatric neighborhood devoid of young people.

50 years from now, when I am 79, I want to be living in some bustling downtown, and I want to be able to walk to the grocery store, museum, art gallery, bookstore/library, hospital, subway station. Which exactly describes M5T. There are few postal codes like this in all of Canada.

If U of T develops student condos in the neighborhood, all the better! The high price per sq ft of the new construction will actually make the SFH’s even more attractive by comparison. Yes, DR, 2 million sounds like a lot, but for a 3300 sq ft house (including a renovated lower lvl) it’s just $600 per sq ft, which is comparable to what those U of T condos would cost. We’re not there yet, but I do see it happening by 2020.

By the way, this real estate thing is just my hobby, the day job takes most of my time and attention, and feeds the hobby. Of course it helps that my PA (personal account, in trading floor parlance) massively outperformed just about anything (leveraged gains on a rising real estate market comfortably beats even the S&P over the past 5 years). It helps that I am already financially independent, but the job is so fun that I will keep on plugging for at least several more years. The IC (incentive compensation, e.g. bonus) I am plowing into prepayments. At this rate I hope to be mortgage free in 5 years (if I am lucky).

LH

#214 Tiger on 03.01.14 at 11:20 pm

177 stupid smoking man
Not even close, scale of 1 to 10 your comments dont register! You did tell me a lot about yourself!
, lies cheats steals thinks credentials are garbage , live in moms basement, smoke and drink hard! Envy rob ford, is he short and bald!
What’s it like to live in a basement smoking man!
Lived in one once when I was 19 years old for a few months , that’s all I remember!
So please tell me what it’s like.

I roam where ever I choose, and do what ever I want to!
Hey I even leave the country , go check out some investments, amazing what you can accomplish being smart!
Smoking man getting all excited think smart means dumb.
Enjoy your basement !
Oh yeah have a nice evening.

#215 Slim Pickens on 03.02.14 at 1:42 am

Here’s what’s going to happen with Ukraine:

http://www.motherjones.com/kevin-drum/2014/03/wee-prediction-about-ukraine

#216 Silenus on 03.02.14 at 2:14 am

Wow Carl,

Your partner is an ambitious, selfish, greedy person. And so clueless.

She has no understanding of the world – economics, trends, opportunities. The fact that we all get old and yes, bad ‘investments’ abound. She wants to get rich, but never asked any rich person how they got where they are. Right?

How about living your youth? Visiting romantic Venice as a couple, get a warm (bad) beer in pubs in London? Going for a walk on Paris’ banks? Trekking to South-East Asia maybe and see what the other side of the world looks like? With $130k a year the WORLD is at your doorstep, at least once a year.

And you give this all away for… wood panels and granite and en-suite dishwasher? Wow. Sad. You will look back at his in a few years and kick yourself for giving up so much.

I’m afraid you’re a slave to the bank you owe your mortgage. Since when banks give you the best advice? Since never.

I feel sorry for you. The world’s opportunities are waiting, and you waste your early career working two jobs to make bankers rich. And when real estate crash, you’ll have nothing.

Just sell. And if she’s not following you, she doesn’t really love you. That’s okay. You should find someone really interested in you more than in your accounting degree.

Silenus

#217 Steve French on 03.02.14 at 6:40 am

Message to Smoking Man and all of his disciples:

Picture this.

The distant red neon shivered in the heat

I was feeling like a stranger in a strange land

You know where people play games with the night

God, it was too hot to sleep

I followed the sound of a jukebox coming from a levee

All of a sudden I could hear somebody whistling from right behind me

I turned around and she said

“Why do you always end up down at Nick’s Cafe?”

I said, “I don’t know, the wind just kind of pushed me this way”

She said, “Hang the rich”.

#218 World Traveller on 03.02.14 at 8:26 am

Is this the year that CHMC blows up?

fingers crossed.

#219 World Traveller on 03.02.14 at 8:28 am

#218 Silenus on 03.02.14 at 2:14 am

unfortunately they are considered common law, so he will be supporting her through alimony payments, unless he gets a hot shot lawyer.
Either way downpayment is gone and any equity has disappeared.

#220 jess on 03.02.14 at 9:06 am

airhead– kum by yah crowd…? what do you mean?

1- “Kumbaya” or “Kumbayah” (Gullah, “Come By Here” — “Kum ba yah”) — is a spiritual song from the 20’s 1930s
http://en.wikipedia.org/wiki/Kumbaya

=
Yah (jɑː)
n
1. Brit an affected upper-class person
[C20: from yah, the spoken form of yes supposedly used by upper-class British people]

——————————————————————————–
yah (jɑː; jɛə)
sentence substitute
1. an informal word for yes, often used to indicate derision or contempt
interj
2. an exclamation of derision or disgust
http://www.thefreedictionary.com/yahUrban

see
http://www.urbandictionary.com/define.php?term=yah

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

Kum
or a city in NW central Iran: a place of pilgrimage for Shiite Muslims. Pop: 1 045 000 (2005 est)

Recently “Kumbaya” has been used to refer to artificially covering up deep seated disagreements. To say “It’s all Kumbaya” means “It’s fake unanimity.”

#221 Brutus on 03.02.14 at 10:27 am

Predictions:

The sad fact about blogs like this, and western thinking in general, is that they all assume that no geopolitical factors can sweep aside all their quaint, inward-looking assumptions.

That’s about to change. NOW.

Here’s what is about to happen right in front of us, and it will sweep us all up in its fury.

1.Within hours, today and overnight, Ukraine and Russia will be exchanging full volleys of war with.

2.Within 48 hours, the prospect of nuclear threats will be evident.

3.Within 7 days there will be a nuclear event.

4.Within 10 days, NATO will be directly involved and Canadian troops will be deployed and there will be immediate casualties.

5.The price of gold will hit $3000 by March 7. It will be over $5000 this month. Silver will be over $200 by March 31.

6.Real estate will experience an odd spike, then crater by over 30% within three weeks. Basements will be the most important part of a home’s resale value.

Be thankful that we may not be immediately, directly involved. But that will change in the weeks and months ahead.

Putin is a far better chess player than anyone in the west, and he knows it.

http://www.dailymail.co.uk/news/article-1287271/World-plunged-crisis-2014-Cambridge-expert-predicts-Doomsday.html

http://www.newstatesman.com/2014/01/1914-to-2014

And for those a little bit flaky, there’s this:

http://english.pravda.ru/society/anomal/25-03-2011/117328-third_world_war-0/

Don’t plan on putting in a full week at work this week, everyone. Make sure you have a radio with batteries. Localized espionage and terrorist activities are also possible in North America, and never forget Putin’s ties with Syria and what that means around the globe.

You were right about one thing, Garth:

“This won’t end well”

You were just off by the matter of degree.

#222 Daisy Mae on 03.02.14 at 10:30 am

#221 World Traveler: “They are considered common law…”

Carl actually said: “European honeymoon was spent in Georgian Bay….” Past tense. However, after a period of time, it’s neither here nor there.

Sell the house, Carl, and get back to normal living.

#223 Brutus on 03.02.14 at 10:36 am

Minor edit to my point #1 should be

“…with…hundreds dead within the first 24 hours, thousands within a week

#224 jess on 03.02.14 at 10:42 am

Justice for whom

ukraine according to CIA fact book
Age structure:
0-14 years: 13.9% (male 3,180,376/female 3,004,250)
15-24 years: 12.1% (male 2,758,374/female 2,645,879)
25-54 years: 45% (male 9,693,346/female 10,355,403)
55-64 years: 13.5% (male 2,573,283/female 3,426,840)
65 years and over: 15.6% (male 2,269,784/female 4,665,670) (2013 est.)

journalist Georgiy Gongadze, was abducted and murdered in 2000.
No one has yet been charged with giving the order for Gongadze’s murder.[5]wiki
http://news.bbc.co.uk/2/hi/europe/4593938.stm
“…a former interior minister who was supposed to testify in the case committed suicide only a few hours before he was due to give evidence.”

#225 Brutus on 03.02.14 at 10:44 am

The key element from my second source cited above:

“As we commemorate the First World War, we surely need to focus above all on the lessons to be learned from these tragic experiences. During the Cuban missile crisis of 1962, President John F Kennedy showed that he had paid attention: his reading of Barbara Tuchman’s The Guns of August convinced him that muddle, indecisiveness and poor communication between the leaders of the Great Powers in 1914 had caused the slide into war, and that a nuclear conflict with the Soviet Union could be avoided only if he made his position unambiguously clear to Nikita Khrushchev, as indeed he did.”

Richard J. Evans

Muddle, indecisiveness and poor communication.

That is exactly ALL we have seen from western powers for a long time. Putin knows Obama is weak, and how to play the US right/left split to his advantage.

So many people have such a tenuous grasp of personal financial comfort and well being around the world that far too many would be willing to throw that away in a conflict that suggests it could change that, or at least be a worthy distraction.

Get your gas tanks filled today.

#226 Stupesing in Cabbagetown on 03.02.14 at 10:54 am

#160 Lurker “This happened to acquaintances of my wife…”

I also knew a family that had a similar experience. And when the female tenant and the husband went to the wife to tell her that they were in love and sleeping together, the wife ran to the tenant, threw her arms around her neck and cried “don’t leave me!”

#227 RVP on 03.02.14 at 11:03 am

It’s March and it’s snowing in Vancouver!!! What a long winter this has been–even in Vancouver!!!

#228 Ralph Cramdown on 03.02.14 at 11:04 am

#211 BCD (D for Daturday) — “It doesn’t work for everyone. . .and when you get burned you can really get burned. . .but quite a few have made a killing this way. Timing. . .life is all about timing and luck.”

Successful investing has little to do with luck. Many successful speculators are confused for investors by the public, who then think luck must be part of the process.

Income property investing is most accurately described, I think, as “get rich slowly.” You buy properties that have good yields or that you can convert into having good yields, with a substantial enough down payment and reserve fund, and you collect your rents and maintain your asset.

Sometimes there’s very little available with a good yield. But every good sized city has many real estate agents hungry for commissions, a cable TV channel showing how easy real estate investing is, and is on the circuit of travelling charlatans who were so successful investing in real estate that they’ve decided to share their secrets with you. Those interests don’t make any money by telling you that some times are not good times to buy investment properties.

To square the circle and convince themselves that it’s better to buy a few houses yielding a claimed 4.5% and an honest 3.5% than to buy a basket of REITs yielding 5-9% with similar tax advantages, proven management and much wider diversification, the amateurs just pencil in some assumed appreciation to make the numbers look much rosier. The turn of the cycle always finds many of these types overleveraged. Unable to refinance, their forced liquidation adds to the misery of the slightly less overextended speculators all the way down.

Uncle Warren’s shareholder letter is out. He talks about two small (to him) real estate deals and also shows three years’ revenue and profits at Berkshire’s major operating units, many of which do most or all of their business in the US. For those that doubt the US economic recovery, the numbers are stark.

http://www.berkshirehathaway.com/letters/2013ltr.pdf

#229 BCD (D for Dumbday) on 03.02.14 at 11:11 am

#179 KommyKim on 03.01.14 at 3:28 pm
RE #170 World According To Garth on 03.01.14 at 1:58 pm
Gun confiscation in Kanaduhhhh by UN-elected govt pencil pushers. Welcome to Kanaduhhhh.

Sorry, but the gun confiscation has been mandated by ELECTED govt pencil pushers. The UN-elected govt pencil pushers enforce the LAW. Yes the LAW, which right wingers love. The rule of LAW! Throw the LAW breakers in jail! Minimum mandatory sentences for LAW breaking gun nutters!
___________________________________________

Who you calling a gun nutter? Me? As a restricted gun owner I have a criminal record check every single morning (when the RCMP runs all restricted gun owners names through a criminal database to see if they come up). When was the last time you had a criminal record check? The gun owning population in Canada is actually MORE law abiding. Have a look at the stats before you go off spouting nonsense.

#230 BCD (D for Dumbday) on 03.02.14 at 11:22 am

#200 KommyKim on 03.01.14 at 7:36 pm

To drive a automobile you need to pass a test, get a license, register it, and have a minimum of 200K of liability insurance in case you accidentally kill someone with it.
Guns should, at a minimum, be treated the same way.
________________________________________

Do you have any idea what is required to get a gun license in Canada? It requires a 2 day course with practical and written tests and then an extensive application process that can take anywhere from 6 weeks to 12 months (the application includes phone interviews with sponsors, criminal record checks etc.) As for liability. . .if you kill someone with a gun you go to jail forever–how’s that for liability.

RE: #186 World According To Garth on 03.01.14 at 4:18 pmThere is no ballistical difference between how any semi auto works. But yet pencil pushers say ” dats legal and dats not”.
___________________________________________

The gov’t does somewhat arbitrarily hand out “restricted” and “non-restricted” classifications for weapons. Anyone with some understanding of gun culture knows this. There are general guidelines like barrel length and magazine capacity–but some guns get a restricted classification ONLY because they LOOK really menacing. Hard to believe but it’s true.

#231 Dogs Playing poker on 03.02.14 at 11:27 am

Brutus, a new turning point will be defined this week.

The question of war is no longer about sovereignty of nations, but a question of what is best for the global economy.

If a war is avoided, it will be because corporations and central banks decided that it isn’t good for business (right now).

If some type of response against the Russians is taken, then we will know that our govts. still exercise some sovereign control.

The situation demands a united response.

Time will tell who our masters are.

Meanwhile the morning anchors have given the situation 20 seconds. More time was given to hockey game and whether or not the roof will be open.

We’re just chimps with drivers licences.

#232 TnT on 03.02.14 at 11:27 am

#223 Brutus

There’s a sucker born every minute….

Your article sites Professor Boyle – end of the article

Professor Boyle’s book 2014 – How to survive the next world crisis is published today by Continuum Books.

Read more: http://www.dailymail.co.uk/news/article-1287271/World-plunged-crisis-2014-Cambridge-expert-predicts-Doomsday.html#ixzz2uorP8OO7

#233 TurnerNation on 03.02.14 at 11:33 am

I see some people thrive on the “us and them” scenario’s game.
There is only a pyramid. Us at the bottom, above; middling and elected mind controllers; above that, unimaginable wealth, technology, and violence.

Us and them? Duck and cover? You mean those people (Ruskies) we’ve been helping with the space program all these years? Given the Earth has been 100% weaponized, what do you think is going on up there.

Still not believing it, clinging to the pyramid level above you? Cuba: He had WMD (so the story went), is a brutal commie dictator. Could be “liberated” overnight. So easy. No they won’t. It serves a purpose. US Gitmo prison island too. No liberation for you.

N. Korea, Dennis Rodman? They are playing with us. Recall he and others (Robin Williams comes to mind) had to endure a fraternal initiation ritual of wearing a women’s dress on TV (Was on SNL; Mrs. Doubtfire). He’s playing the script.

We see country after country. Moving so fast now! H has showed his allegiance to the Brit outpost in the ME.

“All the drinks are on the Crown; just a matter of a trickle down”. (‘Hip’s lyrics.)

#234 TnT on 03.02.14 at 11:33 am

#227 Brutus

Obama weak? that’s funny…

Drone program going out of control….

Invading countries to get Osama….

NGO’s all over the globe inciting unrest….

All on Obama’s watch while the nut jobs think he’s weak…

Ukraine is a boarder country with Russia

Russia needs Ukraine to manage the pipelines into Europe.

What would happen if Mexico goes communist or Canada?

You think USA would tolerate a boarder country having a global agenda that goes against its own interest?

Have fun stocking up on TP and Gold….

#235 BCD (D for Dumbday) on 03.02.14 at 11:35 am

#223 Brutus on 03.02.14 at 10:27 am

Don’t plan on putting in a full week at work this week, everyone. Make sure you have a radio with batteries. Localized espionage and terrorist activities are also possible in North America, and never forget Putin’s ties with Syria and what that means around the globe.
__________________________________________

And some people are worried about the gun owners on this blog???!!!

#236 Smoking Man on 03.02.14 at 11:39 am

#219 Steve French on 03.02.14 at 6:40 am

That was good, so few words yet a vivid image us painted.

Well done..

I’ll read it again when this massive hand over diminishes.

#237 Nemesis on 03.02.14 at 11:41 am

Yikes… talk about your IdesOfMarch, SaltyDogz… I wonder… what would Mark Anthony say? Oh! Right:

http://youtu.be/7X9C55TkUP8

And now, a little something for SaltyDogz who like to wash down their ShakespeareanParables with sound analysis [of particular interest to Jess; and for the TimeChallenged amongst you it summarizes as, “Business as Usual”… with a few geopolitical dramaturgical flourishes, naturally].

[Politico] – Why Russia No Longer Fears the West

http://www.politico.com/magazine/story/2014/03/russia-vladimir-putin-the-west-104134_full.html

#238 Ralph Cramdown on 03.02.14 at 11:42 am

Et tu, Brute?

Ukraine hasn’t got much oil, isn’t next to Israel, doesn’t control a major sea route that is strategic to anyone except Russia, and isn’t a member of a Western mutual defence pact.

The worst case is that a few natural gas pipelines get blown and parts of Europe experience some severe discomfort for a few months.

We don’t have a dog in this fight.

#239 TnT on 03.02.14 at 11:49 am

MacLean’s

The verdict is in: Stocks beat real estate as an investment

http://www2.macleans.ca/2014/02/27/the-verdict-is-in-stocks-beat-real-estate-as-an-investment/

Hard to believe anything these days……..

MacLean’s

Great Canadian real estate crash of 2013

http://www2.macleans.ca/2013/01/09/crash-and-burn/

MacLean’s been calling for a Real Estate crash for as long as Garth….

Learn to read. There will be no crash. Just a correction devastating to people who listened to you. — Garth

#240 Chickenlittle on 03.02.14 at 12:08 pm

Smoking Man, you kill me! These were some of your best posts.

LH:

It’s funny how everyone wants something different. I like a quiet neighbourhood, especially if I’m paying top dollar to live there. I don’t want neighbours with beer bottles and old furniture all over their lawn and I do like to get a good nights sleep.

Having said that, I’d love to live downtown. I’d be at Raptors games every week.

#241 Old Man on 03.02.14 at 12:27 pm

This potential battle is geo-political for the most part, and Russia will win in the end. Putin is a great General with a superior war machine that is focused. Nato is a paper tiger and all they can do is blow smoke, and Caesar like always makes a fool of himself. USA does not have the boots on the ground; the money or will; nor the technology – land, sea, or air to ever battle Russia anymore. Caesar is a disgrace as his words against Russia are empty and he is playing the Ukraine card for votes in 2015 which is a cheap political ploy, as he creates a false reality for 1.2 million Canadians.

#242 OttawaMike on 03.02.14 at 12:35 pm

223 Brutus on 03.02.14 at 10:27 am

Thanks for the heads up man!

I am traveling out to the west side of Ottawa to see if I can negotiate a space in the Diefenbunker for me and my loved ones:
http://diefenbunker.ca/

#243 recharts on 03.02.14 at 12:35 pm

Price changes for TO SFH 09-2013 ↔02-2014

https://twitter.com/recharts/status/440160589713649666

The median areas are expanding while the more expensive areas are contracting
Thank F for being an idiot. He cooled off the segment where he should not care? Why care for idiots who pay $2M-$3M ? Don’t insure them if you want (which he did) but letting the median segment of the market unattended had the exactly opposite effect of cooling of the market: that segment increased making the people who are most probably to default to stretch even more.

So basically his measure had the opposite effect. Turned red hot the median segment where most of the transactions are.

#244 Son of Ponzi on 03.02.14 at 12:35 pm

@Ralph C.
The Leverage Cycle:
——————–
Some of more upscale Money Washing Machines have one.

#245 Son of Ponzi on 03.02.14 at 12:46 pm

#244
if you want bunkers, the German ones are the best!

#246 Old Man on 03.02.14 at 1:01 pm

#246 Son of Ponzi – for a brief moment thought you was letting the cat out the bag on those odd property deals where the price went well above listing or market value. Were these arm’s length transactions? I caught a few buzz words, and if I had all the facts could do a forensic on any transaction in minutes that would spin the RCMP in circles for the taxman. Yes can be hired.

#247 airhead princess on 03.02.14 at 1:11 pm

“240 Ralph Cramdown on 03.02.14 at 11:42 am

Et tu, Brute?

Ukraine hasn’t got much oil, isn’t next to Israel, doesn’t control a major sea route that is strategic to anyone except Russia, and isn’t a member of a Western mutual defence pact.

The worst case is that a few natural gas pipelines get blown and parts of Europe experience some severe discomfort for a few months.

We don’t have a dog in this fight.”

Quite so……Harper’s ballyhoo over ‘Sanctions against Russia’ are hollow farts in the wind…..our soldiers don’t have matching boots or enough batteries. Canada has zero trade with the USSR. The new world order…the one left over after the fall of the USA…..is not a circle jerk as we’re finding out……The barbarians are at the gate and Obozo wants to ‘skip a meeting so that he can attend a fund raiser down the street’. Harper is confiscating weapons because he fears the growing tension in the streets from citizens who see fights breaking out all over the world and might show up on the streets of Toronto any day.

While at the same time Europe has shut traditional energy producing facilities off… like Nuclear and Coal…. they have been heavily subsidizing ineffective inefficient wind and solar…..they have been pouring billions down the toilet and raising taxes while also raising prices to consumers by hundreds of percentage points over the past five years.

They are broke and unable to engage Russia which is far more self reliant. If Russia decides to turn off the gas Europe will shiver in the dark. It will take years to turn the nukes and other power plants back on……they have made a huge miscalculation and are paying for it now as global warming has turned out to be an intellectual musing rather than fact. Climate change is turning out to be a solar cycle that may be leading us into another mini ice age…..without power the EU is f**cked.

Obozo and his liberal curmudgeons have been on the same track. Fresh out of their college dorms the administration has never learned the lessons of lessons…let alone the current politics of hate that rule the world. People wanted free welfare, free cell phones….freedom from work…and they voted to shift from work to shiftless….the tokers dream eh…..but we might get a boot in the ass from all the folks out in the world who have been screaming loudly about the demise of western civilization……with Obozo as gate keeper …no one should be sleeping soundly…..except to dream of your children being raped and hauled off as slaves.

#248 Greg Soprovich on 03.02.14 at 1:18 pm

Hi Garth

Are you planning to post any comments on the CMHC changes. They seem fairly tame considering the over hang they have in places like Vancouver or Toronto.

Greg S

Comment: boring. — Garth

#249 KommyKim on 03.02.14 at 1:29 pm

RE #231 BCD (D for Dumbday) on 03.02.14 at 11:11 am
Who you calling a gun nutter? Me?

I wasn’t because I didn’t know you were one. I am now.

RE: When was the last time you had a criminal record check?

Fairly recently. I require it for my job. It was more extensive than the one required by a gun owner.

RE The gun owning population in Canada is actually MORE law abiding. Have a look at the stats before you go off spouting nonsense.

The thing is, guns are dangerous. They can be stolen and used by criminals. Just like chemical weapons, nuclear bombs, TNT, etc….
Just because someone likes them, or wants to collect them, doesn’t mean that they have the right to put the rest of the community at risk for the sake of their hobby.
Gun ownership is a privilege not a right. It is something gun owners should remember before they go off spouting nonsense.

#250 World According To Garth on 03.02.14 at 1:31 pm

To quote

IT’S DIFFERENT THIS TIME !!!!

How did that work out for for 150 million dead people from Stalin, Mao and Hitler? More people have been killed by “Kommy Kim’s” Govt than all wars combined. You can look up that stat.

Oh yes……but it’s different this time cuz we have iPhones and G20 summits and GMO food to keep everyone fat and stupid.

#200 KommyKim on 03.01.14 at 7:36 pm
RE: #186 World According To Garth on 03.01.14 at 4:18 pmThere is no ballistical difference between how any semi auto works. But yet pencil pushers say ” dats legal and dats not”.

A semi auto weapon is designed to kill human beings. It has no other function, period.
An automobile is designed to transport human beings in a safe manner. To drive a automobile you need to pass a test, get a license, register it, and have a minimum of 200K of liability insurance in case you accidentally kill someone with it.
Guns should, at a minimum, be treated the same way.

#251 KommyKim on 03.02.14 at 1:38 pm

RE: #210 I didn’t vote for the United Nations on 03.01.14 at 9:42 pm
@#186 World According To Garth
I understood Kommy Kim meant UN-elected referring to the United Nations

No I did not mean that. I was talking about Canada and our laws only.

Do you really think that the toothless UN is capable of world domination? You’re a funny guy!

#252 World According To Garth on 03.02.14 at 1:39 pm

Your right…..they should disarm the vpd and RCMP right now with all the people they have been executing with guns and tasers lately.

FAIL

The thing is, guns are dangerous. They can be stolen and used by criminals. Just like chemical weapons, nuclear bombs, TNT, etc….

#253 Nemesis on 03.02.14 at 1:42 pm

#ComicRelief

…SaskaKong!?…

[SCMP] – Canadian city of Saskatoon woos Chinese investors after Ottawa snub

http://www.scmp.com/news/hong-kong/article/1438213/canadian-city-saskatoon-woos-chinese-investors-after-ottawa-snub

…LouGrant’s StudioCity LAX BoffoBungalow Fetches USD1.3M – NewOwner, Suddenly OverCome with BuyersRemorse, Vows to Purchase YVR CrackShack Instead Next Time…

[LAT] – Ed Asner parts with a character-filled house in Studio City

http://www.latimes.com/business/realestate/la-fi-hotprop-20140302,0,5341924,full.story

#254 World According To Garth on 03.02.14 at 1:43 pm

Privately own guns 450 million

Police/military owned guns 6 million

Good luck with that obozo

demise of western civilization……with Obozo as gate keeper …no one should be sleeping soundly…..except to dream of your children being raped and hauled off as slaves.

#255 4 AM Sunrise on 03.02.14 at 1:50 pm

#218 Silenus on 03.02.14 at 2:14 am

I bet Carl’s family, extended family, and in-laws are praising him for his “discipline” and his dedication to the house. The pull of parental – and societal – approval can be dangerously strong.

#256 TurnerNation on 03.02.14 at 1:57 pm

This is not over until Kanada needs to be “bailed out” with an expensive crippling IMF loan.

They are fooling us using a Trojan Horse of “diversity”.
Four, formerly strong provinces being driven to broke;
Under the new leadership of female Premiers (BC, AB, ON, QC) and a much-ballyhooed Muslim mayor in Calgary (6% prop tax hike there, really?)?
And using the cloak of gay rights in Russia.
Now we see, by way of deception they make war.

#257 45north on 03.02.14 at 2:02 pm

Ralph Cramdown : talking about the Ukraine:
We don’t have a dog in this fight.

but we do – the notion of sovereign nations, the people of the Ukraine

http://www.greaterfool.ca/2014/02/20/the-followers/#comment-288020

#258 KommyKim on 03.02.14 at 2:08 pm

RE: #252 World According To Garth on 03.02.14 at 1:31 pm
How did that work out for for 150 million dead people from Stalin, Mao and Hitler? More people have been killed by “Kommy Kim’s” Govt than all wars combined

You should really learn about history. Hitler hated the communists. The USSR was our ALLY during WW2. Without them sapping the German troops on the Russian front, there is no way that the rest of the allies could have saved Europe from the Nazis.

BTW, my moniker is just for fun. Just like your “name” here is. It’s just a troll for rabid right wingers.

#259 Brutus on 03.02.14 at 2:17 pm

Thanks to Nemesis for posting that article about just why Russia does not fear the west.

http://www.politico.com/magazine/story/2014/03/russia-vladimir-putin-the-west-104134.html#.UxNzzkaYZ9A

Important reading.

Ralph, you are simply wrong. Don’t make the mistake to take all your signals locally. I am reading European press much more than local material now. This is the energy force that will compel action, the allegiances and alliances and hopes of those in Europe, with so many ties across borders. Germany will figure huge in this. A new era will be upon us soon.

If that sounds a lot like how 1914 began, then you get the picture. It had nothing to do with North American wishes, but eventually it will challenge our very legitimacy and force action. Harper is already there, withdrawing our ambassador.

This fuse is lit and about to explode. Unlike 1914, we have a lot more religious nutjobs and dispossessed who are well-connected to each other to create unexpected cascading effects in many locations.

I just went past the growing protest at Bloor and Church in Toronto in front the of the Russian consulate. The local passion is something else!

#260 Old Man on 03.02.14 at 2:22 pm

Putin from a position of strength used the bluff card and Nato has been defeated. They have backed down with a complete change of strategy minutes ago and its just political posturing now. Nato is now telling Russia how it will be punished with a series of sanctions after the fact with Kerry being used as the front man in a speech. I am disappointed somewhat as had visions of Caesar taking his weapon into battle to fight the Russians.

#261 World According To Garth on 03.02.14 at 2:29 pm

Wrong again

I was referring to the fact that the first thing these guys did was disarm everyone for “the good of the people”. How well did that work out for the protesters in Ukraine recently? The we’re picked off by snipers. Tat would have lasted all of about 3 minutes in Canada or the USA as our sharpshooter “patriots” would have shot back.

Gus don’t kill people……out of control useless pencil pushing govt Kommies do. In a few years when govt taxes rise to 80% to pay for all the govt worker pensions……it will be quite obvious what the “gun confiscation” agenda was all about as people starve and freeze while 57 year old snivel servants retire in sunny Mexico.

#262 Nemesis on 03.02.14 at 2:32 pm

#BonusZen #StrangerThanFiction

[UK Inependent] – Man shoots himself in the head and dies while demonstrating gun safety

…”The unnamed 36-year-old from Independence Township, Michigan, was demonstrating how his three handguns are safe when they are not loaded by holding them to his head and pulling the trigger, Detroit Free Press reported.”…

http://www.independent.co.uk/news/world/americas/man-shoots-himself-in-the-head-and-dies-while-demonstrating-gun-safety-9153098.html

#263 KommyKim on 03.02.14 at 2:34 pm

RE: #254 World According To Garth on 03.02.14 at 1:39 pm
Your right…..they should disarm the vpd and RCMP right now with all the people they have been executing with guns and tasers lately.
FAIL

The police and the military have a JOB to do.
Gun hobbyists do not.

TRIPLE FAIL

#264 airhead princess on 03.02.14 at 2:40 pm

“254 World According To Garth on 03.02.14 at 1:39 pm
Your right…..they should disarm the vpd and RCMP right now with all the people they have been executing with guns and tasers lately.

Not a bad idea. Why not disarm the patrol officer and have one armed supervisor called when appropraite circumstances prevail. That would assure that the many cases of citizens being shot under questionable circumstances would be alleviated.

The fact is that too many citizens are being killed arbitrarily. The collusion between the police dept and the accused officers are often at odds with forensic analysis of the shooting scene. More citizens have been killed by police than Canadian soldiers were killed by the Taliban in Canadas involvement in that war during the same time frame….thats wrong on so many levels.

And really…we don’t need any more incapacitated 82 year old seniors confined in their hospital beds Tasered because an ‘officer’ feels threatened. Lets get the wweapons out of the argument….the officer doesn’t need to ‘win’ by pulling and discharging a weapon during simple disagreements.

#265 Republic_of_Western_Canada on 03.02.14 at 2:46 pm

#252 World According To Garth on 03.02.14 at 1:31 pm

You don’t need to register or license any kind of car to own it, or even drive it on your own property. You don’t need a license to buy it or own it either.

…Guns should, at a minimum, be treated the same way.

#266 Old Man on 03.02.14 at 3:08 pm

Heil Caesar – could it be that Mr. Turner might be Cassius in disguise? ” Let me have men about me that are fat. Yond Cassius has a lean and hungry look. He thinks too much; such men are dangerous. ”

– W. Shakespeare, Julius Caesar

#267 Brutus on 03.02.14 at 3:15 pm

30 minutes ago:

“All options are on the table”

John Kerry, describing Putin’s actions as “stunning and wilful”

http://politicalticker.blogs.cnn.com/2014/03/02/kerry-rebukes-russias-incredible-act-of-aggression-in-move-into-ukraine/?hpt=hp_t1

#268 KommyKim on 03.02.14 at 3:17 pm

RE #267 Republic_of_Western_Canada on 03.02.14 at 2:46 pm
You don’t need to register or license any kind of car to own it, or even drive it on your own property. You don’t need a license to buy it or own it either.
…Guns should, at a minimum, be treated the same way.

You are aware of the limitations of using an analogy aren’t you?
I thought not.

#269 espressobob on 03.02.14 at 3:18 pm

I’m just relieved to live in a country like Canada where firearms are strictly controlled!

#270 Republic_of_Western_Canada on 03.02.14 at 3:23 pm

#261 Brutus on 03.02.14 at 2:17 pm
If that sounds a lot like how 1914 began, […] It had nothing to do with North American wishes, but eventually it will challenge our very legitimacy and force action. Harper is already there, withdrawing our ambassador.

Canada has nothing to do with the present regional Ukrainian conflict, regards of how many of their immigrants reside here.

The true lesson of the original Crimean War and WWI is to not get sucked into some distant foreign conflict that simply does not concern you. The fewer the participants in a localized bar-room brawl, the smaller the chances anyone gets seriously hurt.

Canada’s first mistake was to let thousands of farm boys get slaughtered in WWI at the behest of a declining british empire to support European posturing, disasterous twisted ‘allegiances’, and their own lousy foreign policy with expectations that the ‘colonies’ should bear the brunt of casualties first.

The next mistake is to appease the U.S. by screwing around Canada/Ukraine/Russian relations to make the yanks happy.

The Ukraine, like many areas of eastern Europe has an extremely complicated history with lots of reasons things are the way they are there. Historical injustices are piled upon atrocities nearly everywhere. That has to be sorted out by local negotiators or even revolutions if the masses have been kicked around by some oligarchy or other. Not by some foreign populations that have been riled up by copy-seeking main-stream medias and immigration cohorts with an axe to grind.

The U.S. has for a long time been intruding in foreign affairs anytime the Soviets or oil are involved, leading to all sorts of disastrous screwups. Not our problem either, and we certainly don’t have the economic or other resources to go chasing all over the place if we can’t even properly fund our own military with upgraded and appropriate armaments and infrastructure for our own defense and interests.

#271 Fed-up on 03.02.14 at 3:25 pm

Wow it’s March and every inch of this massive land mass we call Kanaduh still in an unprecedented and unrelenting deep freeze. Even in the deluded southwest coast, 40+ cm of snow in many places in the last few days alone. I guess it costs huge bucks to live in a climatic and cultural wasteland where your property, cars, infrastructure, your health and everything else you own is decimated by the horrific weather. So ass-backwards effed up.

Oh and in case many are still wondering after the watching Sochi Olympics where many 20+ degree days were enjoyed in the village, it is definitely NOT colder in Russia. +10 forecasted for Moscow by the end of the week. Ottawa, -35 with windchill.

Well at least we can’t blame the weather on H and F.

#272 saskatoon on 03.02.14 at 3:27 pm

#252 World According To Garth

the function of a gun also comes from other things that must be remembered…

for example, there is a security function…a self-defense function…

but it doesn’t necessarily have to be used at all to fulfill this function.

You also said that “an automobile is designed to transport human beings in a safe manner…”

So, I assume you mean that this is the automobile “function”

however, what if soldiers are being transported in that vehicle?

does its function now change?

#273 Republic_of_Western_Canada on 03.02.14 at 3:53 pm

#273 Fed-up on 03.02.14 at 3:25 pm
I guess it costs huge bucks to live in a climatic and cultural wasteland where your property, cars, infrastructure, your health and everything else you own is decimated by the horrific weather. So ass-backwards effed up.

The main thing ‘effed-up’ is your attitude.

Having the proper infrastructure to live in an environment that hasn’t changed much for several thousand years should be taken as a given requirement of life on this part of this continent.

If things don’t quite look like southern California then move. Or make things better – it’s not illegal to have a spare set of snow tires on rims available if you live in Vancouver for example. Or to enforce proper building codes for condos or rental towers. Or to go out and make a few friends to enjoy what’s available in life, instead of bitching about the rain and a few snow squalls.

#274 Ralph Cramdown on 03.02.14 at 3:56 pm

I don’t know what people are getting bent out of shape over. Independent, Russia-facing Crimea, and the rest of Ukraine can seek closer ties with the EU should it desire. War’s over, and not a shot fired. Call it an amicable dissolution.

Anyone who honestly thought that Russia would allow Sevastopol to be surrounded by an EU-oriented country… Or that the US would sent a carrier group into the Black Sea… Or that Europe is going to send troops in to save ethnic Russians from the Russians, or protect the territorial integrity of Ukraine… Nope.

#275 Toronto_CA on 03.02.14 at 3:57 pm

“Mr Turner: Is this story of today about our own Neocon, Harper troll, Toronto CA?”

Wow…I’m neither the person in the story (Carl) nor a Neocon Harper Troll. I can’t stand Harper, and am socially as liberal as you can get. Legalize pot and tax it. Legalize prostitution and tax it (and make it safer for the sex workers). Same-sex marriage and abortions should be legal everywhere, etc.

Just because I think public service unions are pretty out of touch with reality in most of the country (Ontario police and teachers in particular) doesn’t mean I’m a “Neocon Harper Troll”.

And yeah, Carl’s life sounds sad to me, but if he and his wife are happy, more power to them. Life should be about more than just paying your mortgage.

#276 Toronto_CA on 03.02.14 at 3:59 pm

Oh also, I wish the Feds and provinces would raise the corporate tax rates, it is far too low in this country, and make a sharp cut to personal tax rates for incomes under $200k. I’m not sure many “Neocon Harper Trolls” would agree with that.

#277 Spiltbongwater on 03.02.14 at 4:03 pm

Didn’t Hitler host the Olympics before attempting world domination?

#278 Blacksheep on 03.02.14 at 4:08 pm

KommyKim # 251,

“The thing is, guns are dangerous. They can be stolen and used by criminals.”
——————————————————-
Here in Canada, firearms are highly regulated. Kept under lock and key and only used by trained, licensed individuals. Period. Intentional deaths buy firearms, is ultra low.
——————————————-
“Just like chemical weapons, nuclear bombs,”
——————————————-
Ya….like these concerns are on the same level. You just lost any semblance of credibility.

#279 jess on 03.02.14 at 4:10 pm

..airhead
nemesis

…Inverted totalitarianism is a term coined by political philosopher Sheldon Wolin

http://press.princeton.edu/titles/9175.html

#280 Oceanside on 03.02.14 at 4:10 pm

#266 airhead princess on 03.02.14 at 2:40 pm
“254 World According To Garth on 03.02.14 at 1:39 pm
Your right…..they should disarm the vpd and RCMP right now with all the people they have been executing with guns and tasers lately.

Not a bad idea. Why not disarm the patrol officer and have one armed supervisor called when appropraite circumstances prevail. That would assure that the many cases of citizens being shot under questionable circumstances would be alleviated.
____________________________________________

I think they still do this in Great Britain, not a bad way to prevent paranoid snap and often bad judgement calls.

#281 saskatoon on 03.02.14 at 4:31 pm

#251 KommyKim

people who think like this are SO NAIVE.

they actually believe that government (through force, which ironically includes gun usage)…can pass laws that actually ELIMINATE ALL weapons in society.

p.s. gasoline is also dangerous…so are knives…criminals could use them too! how can “we” give “ordinary” people access to these things…they are endangering the community and putting people at risk! privilege (is required) granted by me! muuuhahahaha!

sigh.

#282 espressobob on 03.02.14 at 4:41 pm

Still on about the ‘gun’ thing? I grew up on firearms. Maybe you should try your hand with a 308! Pull a few rounds & become enlightened as to the real power of weapons and the stupidity of what they where designed to do! No disrespect to law abiding folk for the purpose of hunting or target shooters.

Adopting a pet has more rewards! What a world we live in?

#283 Nemesis on 03.02.14 at 5:08 pm

@Jess/#281…

Absent a modifier I’m not entirely sure I follow your line of reasoning… but whereas I believe you meant to imply that Ben Judah’s editorial take on current events was somehow at odds with Professor Wolin’s larger thesis I would have to disagree.

I prefer to think of Judah’s think-piece as complementary to Wolin’s explanatory/theoretical framework… here’s a review of his earlier work which you may enjoy:

[UK Guardian] – Fragile Empire: How Russia Fell In and Out of Love With Vladimir Putin by Ben Judah – Review

…”Why did this revolution fail? In his lucid study of the never-ending Putin era, Ben Judah argues that the middle-class hipsters who gathered again in the capital last month are themselves, in part, to blame. Moscow, he points out, isn’t Russia: it is an affluent mega‑city disconnected from the impoverished small towns where most Russians live. He also detects a whiff of condescension. The well-off activists who took to the streets in the wake of rigged 2011 elections show little interest in the regions, or in their less fortunate co-citizens.

So big is the gap between Moscow and the rest of the country it resembles the historical gulf between Russia’s French-speaking aristocracy and its serfs. There has been a revival of the “19th-century dialectic between the intelligentsia and the masses”, Judah suggests. (He updates Chekhov: since anyone with cash already lives in Moscow these days, Chekhov’s three aristocratic sisters would probably cry: “To London, to London” rather than “To Moscow, to Moscow”.)”…

http://www.theguardian.com/books/2013/jun/27/fragile-empire-russia-putin-review

#BonusZen [for those enjoy myths and political myth making]

WinningTheVideocracy:

http://tinyurl.com/mbjynqa

& WinningTheVideocracyNotSoMuch:

http://tinyurl.com/nc33x6t

#284 devore on 03.02.14 at 5:21 pm

#251 KommyKim

The thing is, guns are dangerous. They can be stolen and used by criminals. Just like chemical weapons, nuclear bombs, TNT, etc….

Yes, JUST LIKE nuclear bombs… Stop foaming at the mouth, and listen to yourself for a few seconds.

You are aware of the limitations of using an analogy aren’t you? I thought not.

#285 Jamba Mamma on 03.02.14 at 5:31 pm

When is the RE boom going to end? Seems like never!

#286 KommyKim on 03.02.14 at 5:32 pm

RE: #283 saskatoon on 03.02.14 at 4:31 pm
#251 KommyKim
p.s. gasoline is also dangerous…so are knives…criminals could use them too! how can “we” give “ordinary” people access to these things…

You and many others have missed the point. A hand gun or an automatic weapon is a single purpose tool designed to kill human beings.
Knives, (well most of them) cars, and gasoline are designed for other purposes. That’s why there is a legitimate reason for owning them. It’s also the reason why some knives such as switch blades are illegal in Canada. Switch blades are designed to kill people and not peal an orange.

#287 Victor V on 03.02.14 at 5:36 pm

Closer reading of StatsCan report troubling for middle class

http://www.thestar.com/opinion/commentary/2014/03/02/closer_reading_of_statscan_report_troubling_for_middle_class.html

A closer reading of the StatsCan report reveals a much more troubling picture, one that is consistent with what Canadians, as demonstrated in opinion survey after opinion survey, believe about their own financial and economic security.

First, most of this net worth increase is due to phenomenal inflation in home values. The median value of residences was up almost 50 per cent since 2005, which includes the period in which Canada was in recession (when, other things being equal, one would expect house prices to flatten or decline). Anyone who thinks these increases are normal and will continue indefinitely believes in Santa Claus or still holds stock in Bre-X.

The part of the StatsCan study that hasn’t gotten much attention yet is more worrying. Mortgage debt, for example, is reported to be up $650 billion since 2005. Total debts on lines of credit have almost doubled since 2005. The median line of credit debt increased by about $5,000 over seven years. Loans on owned vehicles were up 45 per cent since 2005, to almost $76 billion. About 40 per cent of Canadian family units carried an outstanding balance on their credit cards in 2012, with the median amount of that debt having increased 11 per cent since 2005. Student debt in 2012 was up 24 per cent over 2005.

Do these numbers suggest a financially thriving middle class? Hardly. They paint a picture of a population that has unprecedented access to credit at historically low interest rates. The principal residence has become a new version of the ATM machine, allowing people to access credit against equity in their house to fuel consumption.

#288 economictsunami on 03.02.14 at 5:47 pm

Several EU countries find themselves in the unenviable position of being at the energy mercy of Russia; especially when it comes down to natural gas flows.

http://www.centrex.at/en/files/study_stern_e.pdf

Energy= Money + Power/Control

How will the west respond to the Ukraine situation? Ask Georgia; they’re still waiting on the line.

Who knows, perhaps Putin can be appeased by annexing just the Russian speaking parts of the Crimea…

#289 Pope Snugglebums the 666st (aka Nosty) on 03.02.14 at 6:02 pm

#258 TurnerNation on 03.02.14 at 1:57 pm — “This is not over until Kanada needs to be “bailed out” with an expensive crippling IMF loan. Now we see, by way of deception they make war.”
— and —
#261 Brutus on 03.02.14 at 2:17 pm —
“A new era will be upon us soon. Harper is already there, withdrawing our ambassador.”
— plus —
#269 Brutus on 03.02.14 at 3:15 pm — “All options are on the table”

TurnerNation: Is the forthcoming bailout what Harper meant by “You won’t even recognize this country when I’m through with it”? By way of deception, thou shalt do war.” Motto of the Mossad.

Brutus: Constant change is inevitable, and there are many changes in the offing. If Harper hates the east so much, give him a rifle, fatigues and all military dress and then parachute him into Kiev. Kannaduhhh doesn’t need him anymore.

Brutus: dubya said that not too long ago. BTW, where are Saddaam’s nuke WMD? We’ll ignore the fact that Israel has the only WMD in the MEast, located at Dimona, about 55 miles from Gaza.

#290 Republic_of_Western_Canada on 03.02.14 at 6:23 pm

#284 espressobob on 03.02.14 at 4:41 pm

-eb, sounds like you have a few unresolved childhood problems.

Firearms were ‘designed’ and invented to quickly lob some small weight from point A to point B, preferably with some measure of precision. Fullstop.

Most people who are gradually and properly introduced to the sport of shooting will appreciate and enjoy the satisfaction of disciplined eye/hand coordination and energetic delivery of a well-placed shot. To some degree like properly taking a well-balanced and powerful motorcycle down a twisty, curvy road constantly balancing all forces in an elegant dance. Or perhaps in a car designed to do something similar. Or like slalom skiing or tennis.

What you then decide to do with that capability is separate from the machines themselves. If you can only envision driving that car into a crowd on a sidewalk somewhere, that’s your own personal problem whether psychological or educational.

Painting the machine a different color to make it look more or less evil, then prohibiting it on that basis, doesn’t change its inherent functionality one bit. Or make it fundamentally different from any other machine. Any prohibition only serves some heinous political aim, such as pandering to votes of a confused public who only know video games. Or such as de-arming the general population for easier manipulation and control in the future.

#291 Jeff on 03.02.14 at 6:26 pm

Sorry Carl but you couldnt pay me to live in Upper Beach. My wife and I rent a 2/2 South of Queen near the Fox for $1725 incl.
Is it really the Beach when you have to take public transit to the Boardwalk?
Hope youre enjoying the views from Garrard and Vic Park!

#292 Fed-up on 03.02.14 at 6:31 pm

#275 Republic_of_Western_Canada on 03.02.14 at 3:53 pm

#273 Fed-up on 03.02.14 at 3:25 pm
I guess it costs huge bucks to live in a climatic and cultural wasteland where your property, cars, infrastructure, your health and everything else you own is decimated by the horrific weather. So ass-backwards effed up.

The main thing ‘effed-up’ is your attitude.

Having the proper infrastructure to live in an environment that hasn’t changed much for several thousand years should be taken as a given requirement of life on this part of this continent.

If things don’t quite look like southern California then move. Or make things better – it’s not illegal to have a spare set of snow tires on rims available if you live in Vancouver for example. Or to enforce proper building codes for condos or rental towers. Or to go out and make a few friends to enjoy what’s available in life, instead of bitching about the rain and a few snow squalls.

——————————————————————————–

Spoken like a true Timbit eating Canucklehead. So defensive over the crapiest climate on this planet. You will fit in nicely here.

You totally missed the point of my post. Maybe when the weather warms up for your 2 or 3 week summer, your brain might thaw out just enough to get the gist of my post as it pertains to what we pay to buy houses on this iceberg.

#293 Republic_of_Western_Canada on 03.02.14 at 6:45 pm

#288 KommyKim on 03.02.14 at 5:32 pm

It would actually seem that YOU are missing the point. The use of any small tool is solely determined by the user.

Attempting to imply some arbitrary degree of evilness to it, as if it would suddenly jump up and instantiate all sorts of scary indefinite things you would like to associate it with, is simply naive. If you are incapable or uncomfortable handling something, then just stay away from it.

Attempting to ‘get back’ at anything or anyone because you don’t like it is the worst way to implement public policy.

#294 jess on 03.02.14 at 6:48 pm

nemesis

regarding the thought that there is no center …see Professor Campbell lecture series on “The Power of Myth. ”

or
Hero with a Thousand Faces, The
http://www.jcf.org/new/index.php?categoryid=83&p9999_action=displaybytitle

http://www.jcf.org/new/contribute/index.php?main_page=index&cPath=77_86

#295 Republic_of_Western_Canada on 03.02.14 at 6:54 pm

#294 Fed-up on 03.02.14 at 6:31 pm

Sounds like you’re still complaining about the weather in Vancouver. And detached housing prices, perhaps. And maybe one because of the other ?

How about doing something about it?

#296 Exilled on 03.02.14 at 7:04 pm

Toronto CA: Rebuttal Acknowledged

#297 KommyKim on 03.02.14 at 7:19 pm

RE: #286 devore on 03.02.14 at 5:21 pm
#251 KommyKim
The thing is, guns are dangerous. They can be stolen and used by criminals. Just like chemical weapons, nuclear bombs, TNT, etc….
Yes, JUST LIKE nuclear bombs… Stop foaming at the mouth, and listen to yourself for a few seconds.
You are aware of the limitations of using an analogy aren’t you? I thought not.

Can’t you find your own words to express yourself?

#298 KommyKim on 03.02.14 at 7:24 pm

RE: #295 Republic_of_Western_Canada on 03.02.14 at 6:45 pm
If you are incapable or uncomfortable handling something, then just stay away from it. </i.

I am not afraid of guns. I am afraid of idiots with guns.

#299 Tiger on 03.02.14 at 10:50 pm

300 kommy Kim !
Perhaps you should stay away from guns and airplanes!
You have some serious problems, seriously!
Are you a man hater?

#300 Holy Crap Wheres The Tylenol on 03.03.14 at 11:02 am

#214 Smoking Man on 03.01.14 at 10:48 pm

Holy Crap, Smoking Man I would have never have thought you were a fan of alternative country music or Americana folk. Well there’s hope for you after all. Have some of your JD, relax ease your seat back and put on the headphones.

#301 Paul on 03.03.14 at 4:14 pm

KommyKim
It’s not a gun blog move on

#302 the jaguar on 03.03.14 at 7:57 pm

Garth…can you please engineer a return back to economic matters? Reading the continuous putdowns of bloggers such as ‘The Dear One’ ( Kommy Kim ) and Airhead Princess who goes on and on about civil servants and what they deserve… Mercy. It’s beyond the pale…