Who are you?

BLOG DOGS modified

When Darlene wrote the other day saying it would irritate her if I died, Raymond got to thinking. “Your most recent post ended with that reader asking about, well, who we should read if you stop writing,” he said.

“That got me thinking. Who are your readers? Maybe you should ask them who they are, what they think is going to happen to real estate in the next few years.”

This is probably a good idea. After all, we come here every day, snipe and bitch at each other, get horny or deleted, make sweeping pronouncements, create facts, or try to sound way richer or macho than we are. It’s the Internet thing. We’re all rock stars. Anonymously brave, sage and sexy.

Here’s what I know about you.

During the week about twenty thousand visits happen every day, and that trails off by two-thirds on Saturday, when I find something better to do. Over 81% of the people showing up are regulars, probably because they have shallow and unfulfilled lives, live in musty basements, are anarchists, dog owners, hope to see more underwear pictures, or are easily addicted to anything. Just under 19% are virginal.

The average time spent here is a little more than married couples take to have sex: three minutes and 29 seconds.

Not surprisingly, 89% live in Canada, 5.4% are Americans, and there are 736 people in New Zealand. Go figure. Also no surprise that the three largest urban areas for visitors are the GTA (20.8%), Vancouver (11%) and Calgary (6.2%). But that also means 60% live in places where bidding wars never happen, where hipsters don’t pay $900,000 for slanty semis, seven-figure listings are rare and houses can sit unsold for a year.

I also know that fewer than 1% of the people who come here every day leave a comment. Perhaps some of the regulars scare them off. Hell, they scare me. Maybe they just know better. Whatever. It’s a free blog, and everyone is welcome to talk, so long as you’re not abusive or simply a dink.

(Speaking of which, it’s now almost half-way through the year and my file of deleted comments for 2014 is sitting at 101 pages, single-spaced. The total for last year was 252 pages, so there is currently 19.8% less vitriol on this blog. Pride, people.)

Well, that’s about it – all I know about you, which isn’t much because I’m too cheap to pay Google Analytics for a big report on breakdowns by sex, age or other vital characteristics. (You might have noticed this site refuses all advertising, and sells nothing – by design. Hence, no budget.) Actually I care more about the financial aspects of our group, which obviously includes how you feel about real estate.

So, I agree with Raymond.

“Maybe we could all find out more about each other if you could do a survey of your readers, with a few key questions. Like: (a) rent or own, (b) family income, (c) age and (d) your outlook for real estate over the next one or two years.

“For example, will we have a 50% crash, 30% crash, 10% correction, no change, or higher prices? What do you think?”

I think it’s smart, Ray. But what about the blog dogs? Will they answer those four questions? Are we a kennel full of mangy, subterranean renters and Millennial detritus, or a vibrant pack of sleek and successful purebreds?

There’s only one way to find out.


#1 Vivek on 06.19.14 at 6:56 pm

Interesting read. Great blog. I’m happy I stumbled upon this blog. As a newcomer to Canada, it certainly puts things in perspective.

#2 Yogi Bear on 06.19.14 at 6:58 pm

A. Rent
B. Single. Salary $85,000. Investment income varies. $36,000 plus change last year.
C. 33
D. I’m from Vancouver, so it will start to crash. Initial correction will be fairly sizable and taper off into real estate becoming unloved with declining prices over an extended period of time.

#3 Whinepegger on 06.19.14 at 7:00 pm

OK, I’ll go FIRST. a) own b) $150,000 c) 56 d) 10% correction in Winnipeg.

#4 notsodeepmike on 06.19.14 at 7:00 pm

Hi Garth, amazing blog.

a) Own
b) 93K
c) 44
d) Up

#5 Cy on 06.19.14 at 7:02 pm

40 yrs old
Income not relevant
30per cent correction

#6 guelphstudent on 06.19.14 at 7:02 pm

(a) rent
(b) family income – $90,000
(c) age 26 and 26
(d) flat or falling 5%.
(e) student debt total for two of us ($60,000)

#7 Western Observer on 06.19.14 at 7:02 pm

No crash in Vancouver .

Prices will keep going up.

Interest rates to remain low, possibly lower.

People will keep spending and accumulating debt.

#8 ShawnG on 06.19.14 at 7:03 pm

been renting for 25 years – ever since we came to Canada. family income : even 100k. age 38. outlook: within 5 years, 30%-50%. it starts easy, 10%, then all the realturds will come out screaming time to buy. a few moist will bite. price will level a bit before the big one hits, and there isn’t much anyone could do by that time.
why 5 years? refinance time silly.

#9 JuliaS on 06.19.14 at 7:03 pm

(a) rent (b) $75K (c) 32 (d) 40% crash

#10 rob on 06.19.14 at 7:04 pm

A) rent
B) $144,000 per year
C) 31
D) 15 – 20% correction

#11 AK on 06.19.14 at 7:04 pm

I will do my part
Own property I live in
$180k cad excluding equity profit and after tax
35 yo
Expect it to be down for Canada with a nice weakening of cad for foreigners.

Looking/waiting for a 15 percent correction in vancouver with the idea that cad may also then be at abt 85 cents to usd.

#12 Danee on 06.19.14 at 7:04 pm

a) Rent
b) $135,000
c) 37
d) Have no idea where housing is going in this country

#13 Westvanner on 06.19.14 at 7:05 pm


a) Rent
b) $150 – $200K
c) 60 average of the two of us
d) 10% – 20% correction

#14 Stephen F on 06.19.14 at 7:05 pm

A) own
B) $197k / yr
C) 39 and 38 in household
D) expect prices to be flat or -5% over next two years.

Come mostly for the investing perspective. Thanks Garth.

#15 FuZZy on 06.19.14 at 7:05 pm

First time poster, I figure it’s a good a time as any to introduce myself:

a) renting
b) 120,000$ annual income
c) 25
d) I think a 30-50% crash is in order over the next 3 years, bringing us to similar housing prices compared to the US

Great blog, thanks for all the insight – even though I can never convince my friends to see the light!

#16 Me on 06.19.14 at 7:05 pm

a) own 100% (mortgage free)
b) 125,000 annual
c) 50
d) 30% crash

#17 Blobby on 06.19.14 at 7:06 pm

A) Rent
B) Varies (single & self employed) this year appx 130k
C) 38
D) 30% correction

#18 Shawn on 06.19.14 at 7:06 pm

Average Time to Have Sex

The average time spent here is a little more than married couples take to have sex: three minutes and 29 seconds.


Sure, but after a couple of decades of marriage it make take more like a month, plus dinner out and copious wine…

#19 Pavel on 06.19.14 at 7:07 pm

(a) Rent in Vancouver
(b) 200k
(c) 35
(d) in Vancouver, the pain is coming in a big way. Over the next decade we’ll get back to sensible prices based on long-term fundamentals like rent and income multiples. Even if you accept a BPOE argument, you might justify an income multiple of 4-5, which would be ~$350k for an average SFH based on an average income of $70k. Right now the multiple is at least double that.

#20 Banjopete on 06.19.14 at 7:07 pm

A) own
B) 160k
C) 35
D) 0% here, if interest rates go up different story

Slow change as folks here in Edmonton spend themselves out of the benefits of above average incomes, good jobs, and at least currently many options. I see many people here with crazy hair on fire lifestyles, “I can afford that payment” kind of crazy.

Not many peers understand rrsp’s even though most employers give them $ for them, tfsa’s, hah, that’s like saying you speak another language. Lots of stupid but at least the money’s good… And there are new fools arriving everyday. I did it myself 8 years ago from delusional and beautiful North Vancouver.

#21 GKing on 06.19.14 at 7:09 pm

Own, 150k, 30, single, slow decline to rock bottom.

#22 Bill Gable on 06.19.14 at 7:09 pm

A> Rent. We live in delusional, snooty Vancouver.
Leaving, soon.

B>Income – enough, thanks to the money management by a certain bearded gent, and his equally honest and clever partner. I give thanks everyday.

C> Just cashed my first OAS check and Garth had to talk me down off a ledge.

D>Crashes are impossible to call > I will go with melt, after an initial 10-15% correction – eventually 50% would not surprise me.
Look at the Stock Market – what’s keeping it up?
Yellen and no increase in rates until Obama can spell stupid?
Or is it Corporations buying their own stock back, to keep the game going? The price of Oil?

Recovery? (*Don’t make me laugh).

Keep an eye on Bonds. If the Vigilantes mount up – get outa’ dodge, son.

The visit was about 10 minutes, Garth. LOL.

#23 Mister Obvious on 06.19.14 at 7:09 pm

63 years old. Retired. Once owned three properties. All sold profitably by 2010. Began to read this blog soon after. Now rent in Vancouver. Money invested largely as per Garth’s mantras of balance, diversity etc.. Astounded by the condo madness but firmly believe residential RE can remain insane much longer than I can remain baffled. Correct so far…

#24 Got out in time on 06.19.14 at 7:10 pm

Renting since July 2012
Family income $140K
Me 46 wife 49
Crash 30% + (in two years)

#25 YEGRenter on 06.19.14 at 7:10 pm

a) Rent
b) 100K-120K/year Family Income
c) 41 Years old
d) Next year or two real estate in most major markets will be flat or slightly up. Depends on the city, some down, others will continue to increase. Longer term (5 years) I believe we’ll be in the midst of a significant real estate price normalization/correction.

Mostly lurk, rarely post.

Thanks for the blog Garth!

#26 MontrealInvestor on 06.19.14 at 7:14 pm

A) Own two 4-plex, one 5-plex ,one 6-plex, one cottage.
B) Family income: a bit more than 200K/year (not including incomes from our 18 tenants).
C) 36 and 38, living in Montreal
D) In Montreal, Condo down by 10%.

#27 kILlaBoY50 on 06.19.14 at 7:14 pm

Own (2 years left on the mortgage)
$150,000 (single/divorced)
Where I live (Calgary), my outlook is 5 to 10% price increase over the next 2 years. The price of oil is solid (thanks to ISIS and other shenanigans in other oil producing regions), people are migrating to Alberta where there are lots of jobs, and interest rates aren’t going up much, if at all, in the next 2 years.

#28 Kathryn on 06.19.14 at 7:14 pm

-48,000 but have cash from selling my home in 2010
-40% hopeful – I am mixed about have a crash. One hand I want to buy. On the other hand I don’t want a repression.
-Bachelor’s degree in business
– learned to shut my mouth because no one believes all the leading indicators i used to talk about
– what will be the trigger and why has it taken so long?

#29 Beautiful independent white Toronto woman on 06.19.14 at 7:15 pm

I love Canada as a white female, because I can walk to any place in Toronto without a man attempting to stalk me. The police force in Toronto is top tier in protecting women from predators and violent misogynists.

Canada ranked 27th on job security, fourth on student skills, and first for women empowerment.

I am a woman, and I am proud to be a woman in Canada. The housing market will never fall in Canada because women are no longer oppressed by white males of the patriarchy.

FYI Canada’s middle class earns more than the middle class of USA ^_^

Our economy is booming and more females are earning higher salaries than in previous generations.

All of this doom and gloom is a sign someone needs mental health correction.

#30 Erick on 06.19.14 at 7:17 pm

a) rent
b) 80k single
c) 45
d) the lower the better

And what about you Garth :)

#31 DM in C on 06.19.14 at 7:18 pm

a) Own (after renting for 13 years)
b) $160k
c) 43
d) in YYC? Another year, maybe two of 5-7% gains, then depending on interest rates, flatline then fall. Prob 20%.

#32 bricklayer on 06.19.14 at 7:18 pm

d/ it’s not a matter of if but when this one will correct. Debt is going up with most people never really thinking about how to pay it back. i am also biased by reading Martin Armstrong, and so should you.

#33 new in new west on 06.19.14 at 7:19 pm

– just bought in March, after years of following your blog and agreeing with your logic
– family income varies btw 100-150K
– late thirties
– outlook in Vancouver, higher for at least two more years. Most people here are way more delusional and superficial than I am. Still hear constantly how owning makes sense in the long term, as an investment, blah blah blah. The herd is no where near changing directions.

#34 Unumizer on 06.19.14 at 7:19 pm

a) own – 1994
b) $300k
c) 51/52 dogs 10/4 (why we can’t rent- would love to)
d) 20% everywhere but Calgary. Stupid there.

#35 Vivek on 06.19.14 at 7:20 pm

My personal opinion is that RE will gradually lose value by around 30% over a timespan of 6 months when the bubble stops inflating. I don’t expect an abrupt fall in price. The 250,000+/per year newcomers don’t know any better and simply think RE just works this way and they will buy. Very few newcomers like myself ever find a contrary opinion on RE that does not follow the “conventional” wisdom of RE prices always going up.

I still expect that the meltdown will take some years to fully materialize. My best guess would be early 2017.

How do I know that you say? It’s based on the formal and rigorous treatment of the position of the celestial bodies – 100% error proof.

#36 I'm stupid on 06.19.14 at 7:21 pm

a) neither, fiancé parents gave us a house

b) 1.4 million we both work for her father

c) 34

d) I don’t really care

#37 ILoveCharts on 06.19.14 at 7:21 pm

(a) rent or own

(b) family income
170k – 190k ish

(c) age
30 ish

(d) your outlook for real estate over the next one or two years
It’s overvalued but I don’t know when a correction will occur since so many powerful groups have a vested interest in keeping it propped up. I don’t care because my rent is affordable and I like the flexibility to move at this stage in my career.

#38 For those about to flop... on 06.19.14 at 7:21 pm

B:Less than 100,000 per year.
D:I live in Vancouver and I see nothing but the status quo happening in the foreseeable future .Any property with a reasonable price tag is still selling ,and the ones where the owner/realtor is being greedy are sitting.

#39 Old Man on 06.19.14 at 7:22 pm

A) rent
B) income – whatever is needed
C) 65+
D) it will be nasty

#40 HD on 06.19.14 at 7:22 pm

Well…here I am:


I’m the 2nd performer to come on stage.

Note to Nemesis and SmokinMan – Do not try this at home. I’m a professional ;)

A) Rent
B) N/A
C) 30
D) No idea. Do not care.



#41 Saskatchewan Skeptic on 06.19.14 at 7:23 pm

a) Rent
b) 70K Single income
c) 29 years old
d) 15-20%. hoping for closer to 30%
e) House lusty as much as everyone else with the same A through D.
f) Refuse to buy because I started reading daily

#42 Harry on 06.19.14 at 7:23 pm

A) Rent
B) 155,000 family income
C) 28
D) No change

#43 sonick on 06.19.14 at 7:26 pm

a) Rent
b) $130k Household
c) late 20’s
d) Minor 5% to 10% Correction

Though might I suggest creating a (free) form to make it easier to tally and report results? Google has one: http://www.google.com/google-d-s/createforms.html

#44 DV01 on 06.19.14 at 7:26 pm

I live in a leased van down by the river.

#45 Surrey Jerry on 06.19.14 at 7:26 pm

a) Own
b) $60K
c) 60 years old
d) ? ? ?

#46 Captain Sensible on 06.19.14 at 7:26 pm

Captain Sensible says WOT


#47 Simplyput7 on 06.19.14 at 7:27 pm

a) living in parents’ basement (not really, but might as well be)
b) 100k – 130k per year (family income)
c) Generation Y
d) 30% crash in houses, 50% condos – living in Toronto. I don’t think most people in this city could really survive a 1% rate hike let alone 2%. Many condo buildings are empty, owned by investors or inventory held by developers – I don’t think either one are going to hold on to their properties when things start to go south. And falling glass, ugly, poorly designed condos, with maintenance fees as high as rental apartments won’t be in demand in 5 – 10 years when people become rational again.

#48 Dual Income Cat Only on 06.19.14 at 7:27 pm

A) rent ($1,325 1 bedroom in Toronto)
B) $85,000 family income (2 earners)
C) 31
D) Crash inevitable. Dunno when.

#49 Dave on 06.19.14 at 7:27 pm

(a) Own
(b) 400k family income
(c) 32
(d) Calgary will start to see declining house prices within 3 years. Likely increased prices in desirable areas before that starts to happen.

Love the blog. Thanks!

#50 valleyrenter on 06.19.14 at 7:27 pm

a) Rent
b) 80k
c) 36
d) Canada wide, think RE takes a minimum15% across the board over 2yrs.

#51 Bardbarian on 06.19.14 at 7:28 pm

a) Rent
d)no idea, RE is nuts

#52 long time reader on 06.19.14 at 7:28 pm

I have only commented three times before. Been here since 2010.
– own $800k home
– $350k income so far in 2014 (business and investment). $1.3m net worth
– 38 years old
– real estate up 10% over next 2 years.
oh ya…and a high school diploma.

#53 frank le skank on 06.19.14 at 7:29 pm

I like long walks on the beach, picnics under a moon lit sky, sunshine and rainbows. I enjoy prancing in corn fields with the wind flowing through my hair while flexing my 8 pack. Hope that answers all your questions.

#54 Bob on 06.19.14 at 7:29 pm

Rent on the top floor :)
Crash 30% and then people realise how broke they are. Takes 20 years for housing to recover.

#55 nonplused on 06.19.14 at 7:30 pm

(a) rent or own


(b) family income

I’d rather not say due to haters. We both work. It’s likely coming down in the future because I lost my job and I don’t know how long the consulting gig will continue. Right now I’m getting hours and thankfully my wife’s job looks stable.

(c) age


(d) your outlook for real estate over the next one or two years.

Stable to down 10%. But I’d watch Iraq and Ukraine, either could but the SHTF trigger. Iraq could send oil to $150/bbl, the Ukraine could send Europe into the toilet or worse.

#56 Captain Sensible on 06.19.14 at 7:32 pm

a)-own, of course
b)-85 k, all wifey
c)50 yrs
d)outlook for 416 SFH in next year is steady uppa, then who knows. My crystal ball is in the shop getting looked at.

#57 TugcapC on 06.19.14 at 7:34 pm

1) rent
2) 110k
3)42 single male
4) up to 30% crash in major centres, smaller towns a 10% correction….maybe?
Thanks Garth enjoy the blog and regular reader.

#58 lucyj on 06.19.14 at 7:35 pm

a) own outright
b) 95,000
c) both in late sixties
d) in large urban areas 20 to 30% correction, here on Vancouver Island 20 to 25%.
A great topic, looking forward to the results.

#59 TS on 06.19.14 at 7:36 pm

Own – 110 grand left on a 300 grand home
34 years old in Ottawa
185 grand income per year
Outlook for housing poor

#60 B.C. renter on 06.19.14 at 7:37 pm

I live in B.C. with my husband. We rent – $2000 per month. Our combined income is about $110,000/year. We are 51 and 61 respectively and have far too many children – all have left home and are in university. We own a house we cannot sell in a Latin country – their economy crashed in 2009 (as a result of the rest of the world crashing) and we have not been able to sell it. Prices are declining in our area of B.C.

#61 james on 06.19.14 at 7:37 pm

a) own (in USA)
b) ~250k individual income (depends on stock prices)
c) 38
d) 20% decline in major Canadian cities, with dire consequences for jobs. 15% dead cat bounce in US cities that have seen a recent run up.

#62 jean on 06.19.14 at 7:37 pm

Rent, currently in Canada, because I like to move frequently. Have owned a half dozen homes over the years.

100k -200k, varies


Not really bothered whether real estate in Canada goes up or down; I do not plan to buy in Canada

#63 FormerSaskie on 06.19.14 at 7:39 pm

1 Sold and am homeless till Oct then will rent

2 50 can’t believe how that snuck up on me

3 Seems to be the lowest on the blog

4 CMHC is returning to its roots, whatever that means. If the banks have to support their own risk or insurance premiums for coverage are market rates rather than gov’t supported rates I suspect mortgages will be harder to get and prices will fall.

#64 EmperorCoder on 06.19.14 at 7:39 pm

(a) rent
(b) 180k/yr
(c) 37
(d) -10%

#65 Renter in Van on 06.19.14 at 7:39 pm

Northern end of 6 figures
Who the hell knows at this point

#66 CJ on 06.19.14 at 7:42 pm

A) Own
B) $125,000
C) 35
D) Calgary real estate to go down 10%

Note: Houses aren’t the problem. The boat, trailer, ATV and pool purchased with LOC money … That’s the problem.

#67 Nichomachean on 06.19.14 at 7:42 pm

a) rent
B) 155000
C) 34
D) correction nation wide, markets outside of Van, GTA, and Calgary hit harder.

#68 baddog on 06.19.14 at 7:43 pm

a) own
b)115 k

Don’t know about the rest of the country but I don’t see any doomsday scenarios for Winnipeg. I think prices will soften somewhat in the next few years but nothing crazy in the traditional demand areas. I plan on buying another rental in the next 3 years or so. Rent is high enough that you can buy a place in a decent area for 150 k or so and rent it out for 1100 – 1300 a month. That’s not a bad return on the money. I have money in a balance portfolio as well but I really like real estate and landlording. If you do it right and buy for cash flow it really does not matter as much what the market is doing. The key for me is not to over leverage. always leave some breathing room just in case. If the market tanks at least you are still getting a good dividend until it recovers. Great idea doing the survey Garth!

#69 devore on 06.19.14 at 7:44 pm

Owned a condo, been there, sold, cut a bigger check to the realtor (who actually went on vacation, but took my listing anyways, thanks buddy) than I myself received. Now I rent, but can afford to live well above ground, no mouldy basements for me. $100k-$120K, depending on bonuses and “income from other sources”, mid-30s. House prices? Don’t give 2 effs about it, truth be told, owning the damn condo was stressing me out, costing way too much (after accounting for all expenses) and limiting my options in basically every area of my life. In no hurry to get back into that.

#70 bedonkulous on 06.19.14 at 7:45 pm

a) rent in West Vancouver
b) $450k/year
c) 42 years old
d) 20% correction followed by long boring stock market. lots of used leased cars for sale in 2016. too much non-productive use of credit slows ability to spend.

#71 Calgary Renter on 06.19.14 at 7:45 pm

Garth, why don’t you use one of those free survey websites like monkesurvey. You will get a much higher response rate and will automatically (and for free) summarize the results for you in fancy charts

Just what we need. More charts. — Garth

#72 ex expat on 06.19.14 at 7:46 pm

a) renting houses since 2007 – easy choice when moving for work every few years
b) $120k, plus $20k investment income (thanks for showing the way Garth)
c) 44 and 50
d) RE has already topped out, amazing how may properties are listed for over a million all across the country. I’d rather have income producing assets than worry about a mortgage. Don’t really care about house price direction anymore either, but they would have to drop 50% for me to even consider buying one again.

#73 The Collie on 06.19.14 at 7:46 pm

Here goes:

1) We own, but have an investment HELOC so like a mortgage
2) $50,000 about
3) 67 & 71 (both retired, no pensions)
4) Housing? Depends where – GTA & VCR, I hope it moderates but not crashes

#74 Mandria on 06.19.14 at 7:48 pm

1) Rent – Family sized unit in midtown Toronto
2) About 130-150k family income (depending on overtime) Investment income is just reinvested so no point in counting.
3) Both 30
4) Very hard to say, in overheated markets the best owners can hope for is a 10-15% dip and then a long period of stagnation to bring prices back to the mean. The worst case scenario would be a 30-35% drop (perhaps more in some condos/burbs) and all hell would break loose. I actually don’t wish this second scenario on anyone…the collateral damage to the economy (and the emotional/financial damage to people who I know and love) isn’t worth me saving a bit of $$ on a purchase. There’s no pleasure in “I told you so” when people are acutely suffering…even if it was self-inflicted.

#75 CalgaryGuy on 06.19.14 at 7:50 pm

married/no kids
$100,000 family income
20% + decline in 2 yrs

#76 Gen Y on 06.19.14 at 7:51 pm

B)Single. $65000
D)My family lives in Toronto and I live in Calgary. I expect the prices in these cities to be stable and perhaps decrease slightly ~5% over the next 2 years, then a 20-30% correction over the next 3-5 years.

#77 jrsx13 on 06.19.14 at 7:51 pm

(a) rent or own:
I rent. I cannot afford anything else, so I invest in equities for now. I live in Toronto, so that is why I can’t afford it. I lived in Vancouver before. I am a country guy, so I think my company is punishing me :-p
(b) family income:
85 (single)
(c) age:
(d) your outlook for real estate over the next one or two years:
I would bet down. But it may take longer who knows. For now I am going to try to move somewhere more affordable, or hope prices return to a normal multiple of income.

#78 TimV on 06.19.14 at 7:52 pm

Wow – this is some pretty valuable data you’re collecting should you ever choose to sell it! Or, more plausibly, should it get stolen from the website.

Obviously a self-selected 1% is nowhere close to a representative sample.

a) Own
b) None of your business (although my spouse and I are both gainfully employed)
c) in the 30 to 40 age bracket
d) Flat to up slightly, just due to momentum (in the “416”, detached and semi-detached market, and ignoring seasonality); which still makes it a bad investment, of course

Maybe a better question to get a sense of readership would be: “Why do you read Garth’s blog?”

My answer: Hm; a bit for its informational value, not so much for its entertainment value, and probably a little bit as a virtual vicarious act of schadenfreude, if I were to be completely honest, maybe. That probably makes me a bad person. Or not, since it’s vicarious schadenfreude?


#79 Canaan on 06.19.14 at 7:53 pm

Income $100+
30%+ correction

#80 Al on 06.19.14 at 7:54 pm

(a) I’m a PhD student paying a reduced rent to live in my parents’ Phoenix area home. They bought it because my grad studies timed perfectly with the bottom of the AZ market. They visit sometimes when Canada is cold and I get a deal on housing. Win-win.

(b) 15k/yr grad student stipend

(c) 27

(d) Definitely not buying for a looonngg while. I saw what happened to Phoenix. I’m just learning fiscal responsibility.

#81 NoNameMontreal on 06.19.14 at 7:55 pm

1) rent
2) $120,000, single
3) 51
4) Montreal condos are going to really tank starting in September when sellers realize summer is over and they still haven’t sold their places for their anticipated profit/gain. Sellers will start freaking out, creating a race to cut prices to attract one of the few buyers left with cash, good credit and far more patience than sellers would like. Projects will be cancelled and a 1-2 year decline will bottom out at 20-25% below current prices. Montréal single family houses will decline by no more than 10% over the next two years.

#82 Oakville Owner on 06.19.14 at 7:56 pm

A) Own
B) $270 000
C) 36
D) Flat till rates increase and then 15%to20% down in 3-5 years.

#83 takla on 06.19.14 at 7:56 pm

1. Rent{formerly owned 4 homes over 31 yrs}

2 Wife/myself income approx. 90,000.00 tho.

3. 56 yrs young yesterday!

4.Reset to approx. 2.5-3.5 times average yrly incomes.,ie average household income of 80-100k x 2.5-3.5=250,000 to 350,000, there will be shock and awe in Toronto/Vancouver/Calgary.timeline-1-3 yrs
ps….the metals bull is getting warmed up ,au/ag up close to 10% since dec low…..time to diversifiy!

#84 Grandma on 06.19.14 at 7:57 pm

Own (no mortgage)
57K govt pension (no OAS or CPP yet)
5-10% correction each year starting in 2015 until prices align with income. By 2018 we should be there and then prices will flat line.

#85 vancouverthunder on 06.19.14 at 7:59 pm

“Generations” Post a couple of days ago

There’s zero chance of the Yanks going back into Iraq with boots on the ground. – GARTH

MORE boots on the ground: Obama to send up to 300 military advisers to Iraq to train forces days after deploying 275 Marines to protect Baghdad embassy

Good call Garth wish we all had your incredible insight.

“Boots on the ground” is a term for combat infantry. None will be deployed. You’re welcome. — Garth

#86 My cat is sick on 06.19.14 at 7:59 pm

a) Rent
b) 125K/year Family income + 25K/year investment income
c) 27 and 26
d) There will be a reverse to the mean. But when? And how hard/fast will it be? If I knew such things I would be billionaire.

#87 Randy Randerson on 06.19.14 at 7:59 pm

A) Rent in Vancouver
B) Single, $160K a year
C) 34
D) I see RE is going to flatline or decrease 5% for the next 2 years.

#88 investment virgin on 06.19.14 at 8:00 pm

(a) rent
(b) $63,500
(c) 32
(d) decrease 5% in 2 years

#89 Diane on 06.19.14 at 8:01 pm

A) Rent
B) Married, combined income of $140,000
C) 35
D) I think prices where I am (Vancouver) will decrease. My husband thinks they will stay steady.

#90 MidtownTdot on 06.19.14 at 8:02 pm

Wow this is kind of depressing. I feel like I am poor.

-Housing stabilization. People are too stupid to stop.

#91 Lies on 06.19.14 at 8:02 pm

Gotta love the inflated incomes, what a bunch of liars.

#92 SamIAm on 06.19.14 at 8:02 pm

Hi Garth,
I read you because I love your style and Vitriolic Humour.

I live in a 50 Ft. Boat off TO-Harbour
Income 180K
No Debt -1.5 Mil in investment
Fam – a pup & a pussy
Love to prance (almost)naked on my boat deck

#93 ss on 06.19.14 at 8:02 pm

A) own
B) $150,000 per year
C) 45
D) flat then down a bit

#94 Cuthbert on 06.19.14 at 8:03 pm

A) Just sold, now rent.
B) $125K
C) 32
D) 5-10% correction

#95 Early Spring on 06.19.14 at 8:03 pm

A) rent
B) individual 120,000 / girlfriend 65,000 house=185ish
C) 27
D) I believe a 30% crash is very possible within 2 years to date.
Live in saskatoon

#96 daily reader on 06.19.14 at 8:03 pm

1. Rent
2. $110,000
3. 57 & 55
4. steady slow decline

#97 raider on 06.19.14 at 8:04 pm

(a) rent,
(b) married 80k + ~20k investment income,
(c) 32 & 34,
(d) houses down, REITs up.

#98 TO Renter on 06.19.14 at 8:04 pm

The cohort of blog dogs here would be an advertiser’s dream…

(a) both rent and own, sold RE in 2014 & 2012 for other reasons but floored by the bubbly price (b) 200K+ (c) 40 (d) can’t predict anything but diversified enough that it shouldn’t much matter. Hope for the sake of the indebted millennials and cash poor boomers that it declines gently so they’re prompted to think more creatively about their investments, and revisit the law of gravity.

You mean Greaterfool is not like Facebook tracking everywhere we go and selling our user data?

#99 NoName on 06.19.14 at 8:04 pm

(a) own half, banks owns other half
(b) family income – $170,000
(c) late 30s
(d) crash or correction or doesn’t matter, good school is near by and high school bit further down the road. Until younger one is done with high school we are not planning on moving. So in a few years we can put iliquid equity to work to compensate for what ever comes, crash or corrections.
(e) some liquid debt.
Re equity vs liquid eq. 1.5-1

Most of my post juvenile and sometimes mindless, but on a bright note I am very good at what I do for living.

#100 RodgerDoger on 06.19.14 at 8:05 pm

Married/no kids
Slow decline, many years to recover. Start 2014

#101 Dual Citizen In Canada on 06.19.14 at 8:06 pm

a) Own in US, rent in Canada since 2011
b) 160K CDN (includes US rental income)
c) 51
d) Have been tracking home and rental prices in my area since 2011. Both rents and home prices have been decreasing. Homes are staying longer on the market. 3-6 months now. When I moved in in 2011, homes sold within a week. Unemployment and falling CDN dollar will be the catalyst for as much as 25% decrease by fall of 2015.

#102 IVoteIndependent on 06.19.14 at 8:07 pm

(a) own -just traded 2.85% variable for 2.59% fixed at TD. Only 2 then through!
(b) 90k
(c) 48
(d) down 25%, at about the same rate that wind turbines spring up on the neighbouring farms

Expect the government to bail out all those who didn’t save/invest on the backs of those who did.

#103 Citypeeps on 06.19.14 at 8:07 pm

a)rent, (just sold and she wants to own <1yr)
c)36 & 30
d)up then down when F decides to grow a pair, people need to be saved from themselves

#104 Lies on 06.19.14 at 8:10 pm

#52 long time reader on 06.19.14 at 7:28 pm

I have only commented three times before. Been here since 2010.
– own $800k home
– $350k income so far in 2014 (business and investment). $1.3m net worth
– 38 years old
– real estate up 10% over next 2 years.
oh ya…and a high school diploma.
AND a vivid imagination!!! LOL!!!

#105 LazyJason on 06.19.14 at 8:10 pm

A) Rent in Vancouver at moment but moving to Paris soon, followed by Barcelona then down to Barbados for a few months
B) Married. $60k (from a tax free annuity that pays me until 2033)
C) I’m 43 and my wife is 40 and both retired.
D) Crash in the main markets in Canada

Actually wifey and I just had wills done and I asked the lawyer (who also does conveyancing) how the real estate business was. He said very busy and spewed the real-estate numbers. BUT he also said that the number foreclosures he’s dealing with has skyrocketed. Premonition perhaps?

#106 Steve o on 06.19.14 at 8:11 pm

A – own (no mortgage and debt free)
B – 340k
C – 38 years old
D – 40 percent correction in the big smoke

#107 Engineer on 06.19.14 at 8:16 pm

A) Own
B) $270,000
C) 36,35
D) GTA 25% correction, YYC slightly higher

#108 Jesse on 06.19.14 at 8:17 pm

(a) Rent
(b) 50k (single)
(c) 26
(d) flat

#109 jondroid on 06.19.14 at 8:19 pm

30% correction to flat

#110 Nemesis on 06.19.14 at 8:20 pm

#TopRow4thFromLeft. #AnarchistRenterLingerieAficionado. #’Dazed&Confused’VanguardOfTheXGen. #OnlyMyTaxAccountantsKnowForSure&TheyPityMe. #*NegativeWatch:TheBiggerTheyAreTheHarderThey’llFall.

#BonusZenForSubAquaticOldMen. #Yesterday’sConspiraciesAreToday’sHistory. #ProjectAzonia. #WhenTheGoingGetsWeirdTheWeirdTurnPro.




[NoteToGT: *NegativeWatchCaveat: Location specific & VerySensitive to TransNational flows and JurisdictionalCapitalControls. Just sayin’. PS: Trolls are a lot like Teachers… Everyone loves a bargain but, generally speakin’… Ya get what’s ya pays for.]

#111 Kurt on 06.19.14 at 8:20 pm

A – rent
B – 150k
C – early 50s
D – f***, who knows? It’s been irrational for so long I’d believe just about any outcome.

#112 Goody Niosi on 06.19.14 at 8:20 pm

A) Rent
B) Single/divorced/dog owner/blissfully happy – about $50,000 – probably have enough saved to stretch to age 95 – after that, I become someone else’s problem (hehe)
C) 67
D)Live on Vancouver Island – rural – correction and a big one, Housing prices fueled on debt are total insanity.

#113 crowdedelevatorfartz on 06.19.14 at 8:21 pm

1) Rent ( on the top floor so I get to ride the elevator:)
2)80k (that includes beer bottle refunds)
3) 53 ( my I.Q. and my age add up to 100)
4) The Noro virus will render Vancouver unihabitable for 20 – 30 years. Moss will reclaim everything.
RE Investors will swoon from the pathetic blog offers for their mouldy basement grow ops.

I feel naked, but not alone…………..

#114 Victoria Real Estate Update on 06.19.14 at 8:22 pm

This article was written in April 2005 and appeared in Bloomeberg Businessweek. It’s interesting that the (US) authors at that time said exactly the same things that many Canadian R/E agents, mortgage brokers, real estate boards and others employed in the Canadian housing industry have said lately. Let’s take a look at some quotes from this article:

“In today’s ownership society, few investments have been so lucrative for so many as homeownership.”

“For some lucky folks, home values have doubled in five years.”

“Housing’s slowdown will be relatively mild compared with past downturns…”

“Besides the good job and income growth associated with a healthy economy, there are other compelling reasons that the market won’t soften too much. Baby boomers continue to fuel demand – especially for second homes – and immigrants are increasingly becoming first-time buyers.”

“Boomers, in particular, are driving the second-home market with an eye toward both investment and future retirement.”

“Immigration is another trend that will help housing coast to a soft landing.”

– Kathleen Madigan and Christopher Palmieri, Ann Therese Palmer and Dean Foust

Sound familiar?

The fact of the matter is that it wasn’t different in the US in 2005 and these authors were completely wrong with their predictions. House prices in the US peaked in 2006 and then a deep, multi-year price correction took place.

The following is a list of obvious facts that the authors chose to leave out of this article. These same facts are also ignored by the Canadian media.

– The housing bubble that was formed from 2000 to 2005 as house prices in the US skyrocketed to shocking new highs in a relatively short period of time, leaving incomes and rents far behind.

– The US economy had become dependent on an overactive and heavily stimulated housing market.

– Lax lending standards pushed house prices into bubble territory in the US from 2000 to 2005.

These authors claimed that immigration and baby boomers would help housing in the US “coast to a soft landing”. Of course they were wrong about that. It didn’t happen in Ireland, Greece, Spain, etc., either and it will not happen in Canada.

It wasn’t different in the US.

It isn’t different in Canada either and it has already been proven that it isn’t different in Victoria. Despite the extremely high level of housing market stimulus that continues to be thrown at Canada’s housing market, house prices in Victoria have been declining for 4 years and SFH sales continue to be well below Victoria’s long-term average.

Throughout most of the US, house prices are supported by incomes and rents. Note that incomes in Canada and the US are approximately the same so house prices should be the same as well. Let’s take a look a house prices in Columbus, Ohio:

House criteria:
* min. 3 bed, 2 bath
* min. 1800 sq. ft. of above ground primary (main) living space
* 2004 or newer
* attached double garage

In Victoria, a house like this would probably cost $700 K or more.

In Columbus, the combined value of these 6 houses (that fit the above criteria) is about $648 K.

$88 K ( 4 beds, 2.5 baths, 1,900 sq. ft.)
$90 K ( 4 beds, 2.5 baths, 2,016 sq. ft.)
$108 K (4 beds, 2.5 baths, 1,855 sq. ft.)
$116 K ( 3 beds, 3 baths, 1,872 sq. ft.)
$119 K ( 4 beds, 2.5 baths, 2,140 sq. ft.)
$127 K ( 4 beds, 3 baths, 2,232 sq. ft.)

Girls and guys, it is important to consider the source of your information. Those who are employed in the Canadian housing industry will tell you that it’s always a good time to buy (it’s how they get paid). Stick with the facts. Victoria’s massive housing bubble will continue to deflate and prices will continue to fall until incomes and rents can provide support. That level of support is far below the current price level in Victoria. House prices always revert to the mean.

Until next time – Cheers!

#115 Trevor on 06.19.14 at 8:23 pm

Own and Rent
20% over 3 years

#116 DoogieHowser on 06.19.14 at 8:24 pm

A) Own (~600k house with $150k mortgage) in GTA
B) ~200k, no debt, 400k of invested assets.
C) 34
D) Not sure, signs have been there for a correction but has not happened in the 7 years since we bought our house. Will likely upgrade to a bigger house with a pool and a real yard in the next 2 years correction or no.

#117 espressobob on 06.19.14 at 8:24 pm

(a) Rent
(b) Never enough (variable) self employed too long!
(c) Geriatric, ‘depends’ coming soon!
(d) RE, ever watch the movie “The Abyss”?

#118 Larry Laffer on 06.19.14 at 8:24 pm

A) Rent
B) Currently sitting a little above 100K, could hover lower or higher depending on student attendance in the college where my wife is teaching (no permanent job yet). Wife still has some student loans to pay back, and was on maternity leave during past three years.
C) 35 (me), 32 (wife), 3 (little monster), 2 (very little monster)
D) Overall, 10% correction during the next 3 years, worst in some markets (condos, far-out suburbs in the middle of nowhere), barely noticeable in others (desirable central area with good access to transportation and services). After that, who know?

#119 Millenial on 06.19.14 at 8:25 pm

A) Live at parent’s house (typical pathetic reader)
B) Single. 2013 income $228,000
C) 32
D) Central Toronto (not the burbs) prices will stay the same for next 1-2 yrs, then when the crash comes will be a 15-25% correction, but I hope it will be even bigger.

#120 YVR on 06.19.14 at 8:25 pm

a) Rent a condo in Vancouver (former long term owner sold in 2010)
b) Married self employed income $320K (wife doesn’t work)
c) 45 y/o
d) Vancouver 50% correction. Canada wide about 30%. Bottom in 5 years.

One thing I realized when it comes to a condo renting is much better. Besides the lower cost their is no stress about the building falling apart, dysfunctional strata’s, etc. Just pay the rent, don’t worry, be happy. Move when ever I feel like it. I doubt I will buy again unless it is really cheap. All these people dying to own have no idea.

#121 Vangrrl on 06.19.14 at 8:26 pm

Wow- what do you people do with all that money?! I am clearly not the norm in these parts.
1) rent/year round bike commuter/animal lover/bit left of centre… Hehe
2) approx 25k a year (25/hrs a week)
3) gen X
4) long slow correction? Vancouver will continue to be deluded beyond anything that makes sense. Or it will crash hard, perhaps.
Only debt currently $500 combined on 2 credit cards, thanks in part to this blog have 60k in investments growing steadily.

#122 samsara on 06.19.14 at 8:26 pm

a) rent b) $140,000 (married/ family income) c) 36 d) 25% slow correction

#123 Fremen on 06.19.14 at 8:27 pm

20% correction

#124 Chickenlittle on 06.19.14 at 8:28 pm

A: Rent.
B: $100k combined (if I had seen that number 10 years ago it would have blown my mind. Means nothing now, eh?)
C: The husband and I are both 35. No kids.
D: There will definitely be a correction. I live in Milton and the crap that sells around here is unbelievable.

One thing I predict (as someone who has worked with the public her entire life) is that many will sell their homes and manage to scrape by without losing their shirts. There may be some hold outs, but for the most part, most will get out in time.

Having said that, they will also forget that just a few years before, when RE was at its peak, they will have justified paying what they did at the time saying it was a good investment.

Most people will never admit they were wrong when the time comes. RE as an investment is just too strong a cultural meme at the moment.

Also, most people have no ability to form an independent thought if their lives depended on it.

#125 David guay on 06.19.14 at 8:28 pm

25 percent correction

#126 rainclouds on 06.19.14 at 8:28 pm

40% (in Vancouver )

#127 brewj on 06.19.14 at 8:29 pm

a) rent
b) 190k
c) 45,40
d) 10% correction

#128 Timmy on 06.19.14 at 8:30 pm

Many don’t bother with comments because you delete the ones that you don’t agree with, making this a very slanted blog. When people point out that you failed to call the market for the last 4 years you don’t like to post these comments. You’ll probably delete this one

#129 Smoking Man on 06.19.14 at 8:30 pm


Not sure, changes fast, last 10 years, best year 7.2 m worced year – 220k spend about 150k a year in casinos.


+16% increase in SFH in 416

#130 MJ on 06.19.14 at 8:30 pm

1/ own (2 homes Toronto and Edmonton)
2/ 300k
3/ 56
4/ 10-30% correction depending on area. Strangely I am very bullish on the markets in AB for the next 2 years. No true for other areas.

#131 Mark on 06.19.14 at 8:31 pm

A) Rent
B) 65k
C) 39
D) 50% drop — in the value of the canadian dollar, to put it closer in line with what a dollar will get elsewhere in labour. No rise in interest rates, but housing will double again, giving everyone in construction and politics another 25% raise.

This boom as been awesome for my ability to save money and stuff it into balanced investments. Hopefully it goes for another 20 years.

#132 BG on 06.19.14 at 8:32 pm

(a) rent,
(b) single. 60k
(c) 32
(d) Toronto, Calgary, Vancouver UP. The rest DOWN or equal.

#133 Achilles on 06.19.14 at 8:33 pm

Live on boat in yvr/own commercial/industrial
Yvr condo down 40% in 4 years, SFH down 30-35%

Awesome blog

#134 statsfreak on 06.19.14 at 8:33 pm

– rent in West Van (after owing a house for 20 years – sold in 2010);
– just under $100,000
– 50ish (and semi-retired for years due to careful saving, investing and reading Garth’s blog to confirm I am on track – thanks, Garthman!)
– who knows? If I picked a scenario, pretty much guaranteed the exact opposite would happen.
PS: #53 Frank le Skank – I believe the phrase is:
“I like reading poetry, long walks on the beach, and poking dead things with a stick”. (We do that a lot here in West Van :-D )

#135 Joe Calgary on 06.19.14 at 8:33 pm

A) rent
B) $145000 last year
C) 32
D) 20% in the next 2 years

#136 cynical.me on 06.19.14 at 8:33 pm

Dinks – 40 & 44
30 percent correction

#137 Chickenlittle on 06.19.14 at 8:33 pm

#91 Lies:

I know. I almost laid a couple of eggs reading some of these. I like to think its bc Of Garth’s advice they got so wealthy.

#138 TheCatFoodLady on 06.19.14 at 8:36 pm

A) Rent: have previously owned twice

B) Family income just under 28K – 2.5 times annual income, (roughly) invested.

C) 54/53

D) Markets will remain local but overall trending down – some fast, some slow.

E) BASS SEASON OPENS SATURDAY!!! Lines in the water before dawn.

#139 Greed is God on 06.19.14 at 8:37 pm

40 / married / $120k a year combined / Renting

Waiting for the 20% correction that Garth promised me… ;)

#140 spoonfed on 06.19.14 at 8:38 pm

A)Rent – Might buy next year
C)Both late 20’s
D)No idea where prices are going in the next few years: Keynes said it best when he said “Markets can stay irrational longer than you can stay solvent”
Long-term outlook: Mean reversion (Measured against rents & incomes).
The trigger? My guess is the next oil price spike/supply shock, but who knows….

#141 crowdedelevatorfartz on 06.19.14 at 8:39 pm

@#29 B.I.W.T.W.

Pray tell are you #28 “Madeline” from 6/6/14?

“Women in Toronto are denied the basic human need of shelter because some douche male keeps on outbidding the female for a home. This is sexist by the real estate market.

Caucasian women in Toronto are forced to pay more for their houses, and as our paycheck is 55 cents less than a dollar earned by a male of privilege, we have to work longer hours in a sexist workplace environment. A sexist work environment which pays us less than men and men stare rape us and look at our butts for their perverted minds…….”

Just curious………….

#142 Cowtown on 06.19.14 at 8:40 pm

A) rent
B) 130k family income
C) 29 years old
D) up. Look at the family incomes being posted here, almost all over 100k. The argument that prices have trended too far away from incomes is simply not true when you consider that most families are running with at least 100k combined income. Interest rates will not rise, they cannot as that would have a serious impact on the economy and no political party is going to risk causing an economic downturn in the short term to bolster our long term economic strength, unless they want to lose the next election and pass on an ultimately better economy to their opponents who will take all of the credit for said better economy. I do rent however, as it makes more sense to invest and grow your money in a liquid environment but at the same time I truly do not think we will see any correction or crash in real estate, I just think that there are better yielding investments out there then housing. Please feel free to tell me why I am wrong :)

#143 Exurban on 06.19.14 at 8:40 pm

A. own an SFH in Tri-Cities and a vacation property in Washington State.
B. Married, $160,000 if we’re lucky – my employment income $85K, my wife’s pension $50k, our investment income about $25k, mostly me because she got churned and burned by Investors Group and now invests with [email protected].
C. Three years and change away from OAS. Not collecting CPP yet, contra Garth’s advice, but he might be right.
D. Varied and volatile. Have seen RE crashes and they take a while to manifest. Vacation/resort areas like Sunshine Coast down significantly, maybe by 50% from the peak, but that will take about five more years. Condominiums down everywhere, especially those in outlying suburbs, also as much as 50% from peak but that will take a few years. SFH and some townhouses in the urban hipster zones of Vancouver will go up for another year or two, then who knows? This is affected by interest rates, which I think are staying low for years, but I could be wrong. SFH in the offshore/immigrant interest area, meaning Vancouver, West Van, Richmond and part of Burnaby is a totally different story. This is largely dependent on the flow of HAM, which is volatile but likely to continue at the same rates as the last couple of years. So, westside Van possibly up a little, West Van down a little, Richmond homes over $1 mil down maybe 10% over the next year. All bets off if there is a new tsunami of HAM, something which would be triggered by events that have nothing to do with the domestic Canadian economy.

#144 Alex on 06.19.14 at 8:43 pm

Wow…so this is where the 1% of top income earners hang out.
Here are some real stats

1. Married with combined 60k income
2. Own in Toronto with 200k mortgage
3. 28k in RESP and 40k in BAC
4. 10% correction over next 2 years and 20% over 8 years total
5. 35 years old

#145 vancouverthunder on 06.19.14 at 8:43 pm

“Boots on the ground” is a term for combat infantry. None will be deployed. You’re welcome. — Garth

Whew, I guess the Marines will be relieved to know they are not there for combat. I stand corrected combat is just for infantry. I learn something everyday off this blog. Thanks.

The term is used to convey the belief that military success can only be achieved through the direct physical presence of troops in a conflict area

#146 Dev on 06.19.14 at 8:44 pm

A) rent
B) 230,000
C) 30
D) -25%

#147 CalgaryCarGuy on 06.19.14 at 8:45 pm

a) I own and live in a 40ft diesel-pusher motorhome full time on a large rented wilderness property west of Calgary. Power hook-up only. Grizzly Adams lifestyle only the cabin is nicer. Love every minute of it. Wildlife just outside my window.
b)Normally 85k. Currently between jobs.
c)56 and divorced. Financial destruction from divorce means probably no normal retirement ever but I enjoy a very basic lifestyle.
d) Real estate and the economy in this country in general is in for a very rough time ahead. Minimum 30% drop in real estate on average. Could easily be more with a bad black swan event. Living in a home with wheels could be an advantage in bad times.

#148 McGees on 06.19.14 at 8:47 pm

A) rent
B) 160,000
C) 32 and 31
D) 30% correction

#149 JP on 06.19.14 at 8:47 pm

(A) Rent
(B) 70K
(C) 33 and 27
(D) 30% correction. Shit’s going down in the next couple of years…

#150 Cici on 06.19.14 at 8:48 pm

Here we go, voluntary self-data mining:

a) Rent
b) 115k (two people)
c) 40-year-old housing virgin
d) Probably an overall 15% to 25% correction to flat to +7 or 8 increase, depending on the area and how fast interest rates rise, how the global economy holds up and any other economic shocks. I know, my prediction sounds like a cop out, but real economic fundamentals are getting harder and harder to follow as they are being buried under a bunch of BS. Anything is possible, until it isn’t, and realtor associations lie.

#151 OlderbutWiser on 06.19.14 at 8:48 pm

A) Own multiple properties – no debt
B) Family income $900k + investment income $90k
C) Age 53 (hubby is 63)
D) I hope to retire in 2 years and sell my Toronto condo (I live downtown during the week so I can walk to work) so I am hoping there is no major crash for at least 2 years. I think a major crash is unlikely until such time as interest rates start to rise. I don’t see that happening for several years.

I come to this blog to read Garth’s take on the economy as I respect his perspective and it is usually a refreshing change from the doom and gloom of the main stream media.

#152 Nemesis on 06.19.14 at 8:48 pm

#[email protected]#53


[NoteToSaltierDogz: Contrary to popular rumour, that is not our MagnanimousHost lining up with his SideMen for a gratuitous PinaColada.]

#153 Pooh on 06.19.14 at 8:50 pm

Only useful if someone compiles and reports back. Not it.

215k (gross)
35 yrs
20% correction coming within 3 yrs (will affect the whole country)

#154 Pat on 06.19.14 at 8:50 pm

As an Ottawa resident, I see our market correcting up to 10%. I see a more severe correction in the three hot pockets.

#155 Suki on 06.19.14 at 8:50 pm

(a) own
(b) 200,000
(c) 38
(d) 20% correction

#156 pinstripe on 06.19.14 at 8:50 pm

own several properties, not sure how many.

28000 gross

86 and 85

don’t care. all my cash is in the mattress.

#157 Renting in the GTA on 06.19.14 at 8:51 pm

A) Rent (in the GTA sold house in 2010)
B) 120k combined
C) Married (33 & 32)
D) 10-15% decline in the GTA over 5 years

We invested all our money with a Fee Based Advisor (Garth), since selling our house in 2010 and we continue to invest our savings whenever we save up.

We have never looked back since and couldn’t be any happier with the returns/results.

#158 tim on 06.19.14 at 8:52 pm

a) Rent
b) Family income $180,000
c) age 51 and 61
d) 30% correction starting in about a year

#159 Lee on 06.19.14 at 8:52 pm

Rent, 125k before overtime, 32;

For RE, don’t know, don’t care. It is currently a poor ROI financially, socially, and mentally for me.

#160 NS in Calgary on 06.19.14 at 8:52 pm

a) Own
b) 110K
c) 37
d) Up a bit in Calgary for 2 years. Then who knows.

#161 Grantmi on 06.19.14 at 8:54 pm


#162 LFSC on 06.19.14 at 8:55 pm

30% correction next 16-18

#163 CNR CEO on 06.19.14 at 8:56 pm

a) Own
b) 49 million (including bonuses)
c) 70
d) Indeterminate steady price appreciation – we are like the Chinese in Canada with respect to our love of real-estate (China has more than 100% ownership and their housing prices have never gone down in many, many centuries)

#164 Son of Ponzi on 06.19.14 at 8:57 pm

smoking man,
You’re next.

#165 GDL on 06.19.14 at 8:57 pm

Long time reader going back to 2006, maybe once-a-year commenter. Maybe.

(a) Rent. My landlord clearly didn’t (or can’t) do the math and hasn’t realized that he’s massively subsidizing me to live in his basement by at least 20% of rent price, probably closer to 30%.
(b) 68K (single)
(c) 29
(d) Nationwide correction, select central-ish upper middle class neighbourhoods with lots of detached homes in Toronto and Calgary take less than a 10% hit, most places take 30% hit over 5-6 years decline/stagnation, some massively overvalued suburbs (say, Brampton) take 40%, maybe even slightly more.

#166 Grantmi on 06.19.14 at 8:58 pm

#155 Suki on 06.19.14 at 8:50 pm

(a) own
(b) 200,000
(c) 38
(d) 20% correction

Suki! Are you married?!?!?! ;-)

#167 Canuckfan on 06.19.14 at 9:00 pm

1. Rent
2. Subspecialty physician
3. Mid 30’s.
4. 20% correction in 2 years

#168 well, here it is than on 06.19.14 at 9:00 pm

– rent
– 40
– 46
– given our government’s lack of marbles…. i haven’t got a clue.

#169 JRH on 06.19.14 at 9:03 pm

A: Rent B: Retired C: 56 D:-25%

#170 Sylar on 06.19.14 at 9:03 pm

I’d like to know who changed up their assets mix from reading this blog.

I’m 38, recently single, Vancouverite, $150k annual. Just sold my house for millions and now debt free, which I haven’t been since my early twenties. It was featured in the Sun for a day as I smashed the last highest selling price in my hood by nearly $500k. Renting now and waiting for the rest of the city to become fearful before I get greedy again. Many think I’m nuts selling. My own family disapproved.

But hey, while I have no house, I also don’t need to work anymore if I chose not to. It’s a good – better – place to be.

#171 Transplant on 06.19.14 at 9:03 pm

a.) Own outright, no mortgage

b.) $150,000 US gross, $120,000 US net

c.) 67 & 66

d.) 30% correction, perhaps more or less depending on location

e.) Debt-zero

#172 mark on 06.19.14 at 9:04 pm

Seriously, does nobody earn under 100k on this site?
Almost everyone was over that, and that is NOT reality,
Most people in Canada make far less than that, guess why that’s why no one has money to invest….

#173 Daryn on 06.19.14 at 9:04 pm

A) rent (100% thanks to Garth)
B) 29 & 31
C) $220,000
D) 10% correction drawn out “slowly” between 2015 – 2018 (with ups and downs between)

#174 Ben on 06.19.14 at 9:06 pm

Location: Montreal
a – rent
b – ~150k
c – 38
d – Going down, condos first then family homes. Rising rates will hurt. Ouch.

#175 BT on 06.19.14 at 9:06 pm

a) Rent in YVR
b) 300k
c) 38
d) Down 20-25% in YVR & YYZ, 10% elsewhere

#176 bigtown on 06.19.14 at 9:07 pm

B. $50,000 give or take (taxes)
C. Boomers 55 plus heading for the affordable hills
D. We are old knowledgeable GEEZERS from the 80’s…remember 1989 when you couldn’t sell your fabulous four level in Burlington for $150k THAT WAS US
….REMEMBER back in 1999 on Vancouver Island when the Chinese investors decided the repatriation of HONG KONG TO CHINA was a nonevent and everybody in Nanaimo SCREAMED UNANIMOUSLY DUMP and house price across B.C. plunged over 40%. Well that was us.

#177 Nemesis on 06.19.14 at 9:10 pm

#HDisAwesome. #You’reTheMan! #”RightOn!”,Brother. #IfItWeren’tForTheArthritisIWouldTryThat! #WillStickToTypographicalScatInTheInterim.


#178 Love surveys - what's the prize on 06.19.14 at 9:10 pm

a. own
b. couple plus 200
c. over 50
d. average 25 %

Can not let this one go by:
The average time spent here is a little more than married couples take to have sex: three minutes and 29 seconds.


#179 well, here it is than on 06.19.14 at 9:10 pm

Garth, why don’t you ever talk about the effect of marijuana grow-ops effect on prices, especially in Van.
There is tons of people who do that here and most of them are property owners here ( can you say mortgage helper ?)
There was a guy in the news recently who was busted, owned 3 properties and was even collecting welfare benefits at same time.

#180 Living on the tite on 06.19.14 at 9:10 pm

(a) Live in parents basement
(b) $75k
(c) 28
(d) No crash next year, 10% in two years, 30% or more in three to five years

#181 Waterloo Resident on 06.19.14 at 9:10 pm

(A) – I rent (Waterloo, Ontario, Canada)

(B) – Income = Varies wildly, but since the average income for a single person in Canada is $40,000 / year, then let’s say I earn $40,000 per year.

( My lady-friend in Toronto is an Auditor for Revenue Canada, Master’s degree, 8 years there, she earns $65,000 and she’s told her salary is too high, Accountants are struggling to make even that in this economy.)

(C) – Age = 45

(D) – Outlook over next 2 years = higher in T.O. by 5% per year, then for next 10 years prices will rise between 0% and 2% per year.

#182 Grass on 06.19.14 at 9:13 pm

It is funny how over inflated these reported incomes are… If they would be true, either Garth only attracts the 1% or housing is still underpriced.

#183 Cash is King on 06.19.14 at 9:13 pm

A). Own
B). $135,000 after 30 percent pay cut
C). 50
D). Living in the city with the lowest housing costs here in Windsor, ont. Prices can only go up but will stay flat as the many of the young virginals have moved on to bigger and better? Cities and debt.

Job responsibilities include attending the local landlord & tenant tribunal on a weekly basis. Averaging 150 arrears files every month. Meeting many new Toronto based landlords who have purchased inexpensive rental properties here in Windsor and are shocked at the number of times the are attending the tribunal for non-payment. Most have not performed their economic homework as they inquire when the economic manufacturing recovery will begin in the Windsor area.
They are surprised by my answer.

Note to house humpers buying investment properties in Windsor. Do your homework. There is a reason why long time landlords have sold their rental properties. Too many people leaving the area and too few returning.

#184 NotOwn on 06.19.14 at 9:14 pm

a) Rent
b) $200,000 combined (gross)
c) 27 and 29
d) Stable for next 1-2 years, then -15%

#185 Joseph R. on 06.19.14 at 9:15 pm

a) Both. One house with renters and we rent. Girlfriend owns the house.

b) 160k to 180k

c) 34

d) I live in Calgary. My outlook is no slowing down anytime soon for the Real Estate. I fear people getting caught in real estate scams, like it happened to my girlfriend.

#186 J on 06.19.14 at 9:16 pm

(a) rent
(b) $150,000
(c) 43 and 42
(d) Ottawa, hoping for a 15% correction, but expecting less than 5%, unless the Ghost of F strikes again
(e) still recovering from combined 120k student debt and 10 years of hiring freeze. The King is a fink!

#187 walltiger on 06.19.14 at 9:16 pm

A: own 100%, bank 0%
B: 500K +or-
C: 48, retired
D: slow decline in GTA

#188 Nebbio on 06.19.14 at 9:17 pm

B. $110,000
C. 49
D. Already think the crash has started despite what the papers tell you. 30%

#189 Freedom First on 06.19.14 at 9:17 pm

Very interesting. Most people are answering the questions under a different name.

I rent a high rise apt. with all amenities. I owned and lived in 2 different houses before. Never bought 1 until 33 years old and my net worth was higher than the value of the house.

Self employed for last 15 years and work only part-time or not at all. Not retired, and not on any social assistance or disability pension. I always work doing something, paid or not. Income last 15 years: $30,000-$90,000. I put freedom first. I have traveled a great deal. Income before last 15 years: Higher.

Age: Still get guessed at being 45-48.

Housing prediction: Same as the U.S. went through, some areas hit very hard, some areas hit hard, and some areas hardly hit.

#190 Grannie on 06.19.14 at 9:20 pm

As needed
15% then down to affordability Kitchener
Thanks Garth for everything!

#191 Dunes on 06.19.14 at 9:21 pm

The richest 10 per cent of individuals are making more than $80,400. And the very rich — the 272,600 individuals that make up the top one per cent — are all making more than $191,100.

A. Rent
B. 225k
C. 29 and 33
D. -20%

#192 InTheBasement on 06.19.14 at 9:22 pm

A. Living with parents – Ha!
B. $83,000 + whatever my talented advisers can get me (thanks)
C. 29
D. In GTA +3% to +8% 1 year from now, 2 years from now much harder to predict

#193 John on 06.19.14 at 9:22 pm

a) Own.
b) 150+
c) 45-64
d) Down 8% in next 24 months in Halifax

#194 Sebee on 06.19.14 at 9:23 pm

Under 40
I think there is so much collusion going on and politicians, bankers, RE, regulators are all in on the party, I stopped believing in a correction.

#195 HD on 06.19.14 at 9:24 pm

#177 Nemesis on 06.19.14 at 9:10 pm

#HDisAwesome. #You’reTheMan! #”RightOn!”,Brother. #IfItWeren’tForTheArthritisIWouldTryThat! #WillStickToTypographicalScatInTheInterim.




You crack me up.

Thanks Nem!



#196 Financial Freedom at 40 on 06.19.14 at 9:25 pm

So what do we know about Garth?
Since we’re always putting words in your mouth… but I can only answer c) 65 on your behalf

#197 Belmontonian on 06.19.14 at 9:26 pm

1. Own
2. $200K
3. 50 and 46
4. 10 – 20 % correction

#198 Carlitos El Magnifico on 06.19.14 at 9:26 pm

A) Rent and own
B) $800,000
C) 42
D) 15% reduction by 2016

#199 Nsqt on 06.19.14 at 9:27 pm

Own (no mortgage)……50 k……49…….down 15-20%

#200 Erin on 06.19.14 at 9:28 pm

1. Rent (bought my first house on my own 2 years ago, realized driving an hour one way to work and the time/money/energy needed to maintain a single family home by myself was not worth the “equity” I thought I was building, so sold it and made a bit of money after all the selling costs)
2. $80,000
3. 34 years old next month
4. Prediction: think I got out just in time. Interest rates will readjust, cost of living will continue to go up (in the two years I had my house I was already starting to feel the pinch as gas costs, internet, hydro, insurance prices rose), as Garth says people who maxed out just to “own” a home will be screwed, don’t see myself buying again in the near future.

#201 Reading Tom on 06.19.14 at 9:28 pm

Regular reader – never posted a comment

a. Renting in Vancouver
b. 140K +
c. 50+
d. Average correction of 30% over a 5 year span

Thanks Garth. – I do enjoy your insights and humor.

#202 Ray Skunk on 06.19.14 at 9:29 pm

A) Rent
B) $170k (110 me, 60 Mrs Skunk)
C) 35
D) Slooow decline, maybe 20%

“Seriously, does nobody earn under 100k on this site?”

I’m assuming that higher earners generally care to learn more about finance and investing than those who don’t, hence their presence here.

#203 einsturzende neubauten on 06.19.14 at 9:29 pm

– rent
– 40 years old, single
– 90K plus 15K from investments (last year)
– slightly up (in calgary), for two ore years at least

#204 First time long time on 06.19.14 at 9:29 pm

A. Rent
B. 250k
C. 33, single
D. Toronto: bull – 0-3% gains for a decade (real); base – 2010 prices return when rates stabilize in 2016-2017; bear – 30-45% drop, condos take the brunt

This is a speculative frenzy…

#205 Ronh on 06.19.14 at 9:30 pm

A. own
B. 75K
C. 57
D. Stagflation and debt will magnify any amount of correction when it comes.

#206 Alex on 06.19.14 at 9:31 pm

a) rent
b) 280k
c) 38
d) 40% GTA

#207 eddy on 06.19.14 at 9:31 pm

ok, here’s a picture of me-


#208 Ruthster on 06.19.14 at 9:31 pm

60K (family of 4)
30 & 37
30% correction, +/- 10%

#209 Joe2.0 on 06.19.14 at 9:32 pm

Most creative Revenue Canada sting ever.

1-Rent since 2012
1a-Own a rental prop in Mex.
3-150-200 combined +40k investments.
4-toy poodle chick magnet
5-40% melt by 2020

#210 Eco Capitalist on 06.19.14 at 9:35 pm

A) Own (small mortgage)
B) 74k
C) 43
D) Big crash in big cities, small correction in small towns

#211 Doctor Fierce on 06.19.14 at 9:36 pm

a) both (rent vancouver, own whistler)
d)Regionally varied. Vancouver – stagnation, correction of 10-20% to still absurd levels

#212 b on 06.19.14 at 9:37 pm

A. own older condo mid-town Toronto large enough for couple + 2 kids (euro-style)
B. Salary $90,000+. Investment income varies ~ 30k.
C. 51
D. correct 10% or more overall. Toronto (good areas close to city) will stay flat or go up slowly due to high demand of people that remain with money (there are lots of those)

#213 Janster on 06.19.14 at 9:37 pm

rent; 50,000, single; 55; a bit more upside for ~ 2 more years then crash and burn to the tune of 50%

Too many pending retirees with net worth locked up in their houses with no cash flow to support pretty decent lifestyles = recipe for disaster.

I am very anxious to get back into my own place but living in a small but gorgeous (and cheap) location in BC’s capital, I will patiently watch and wait for my moment. In the meantime can easily sock away 50% of net income while living decently.

For those interested in an alternative site if Garth kicks the bucket, tune into PeakProsperity.com and Zerohedge.com. They will give you the goods without the bullshit of MSM

Cheers from the Left Coast, and ps – no way in hell that pipeline is going to get built!

#214 young mom of 2 on 06.19.14 at 9:37 pm

a. rent
b. 500k
c. 35 married
d. 20% correction

#215 Cici on 06.19.14 at 9:38 pm

#40 HD

Wicked awesome performance. Sure beats sitting in a chair doing drone office work for 40 hours per week.

How many hours do you have to train per day/week to stay that agile?

#216 r on 06.19.14 at 9:41 pm

Own condo no mortgage
120k family gross income
Age 35
Correction 20 to 30%

#217 Rantanplan007 on 06.19.14 at 9:41 pm

A) Rent condo @ $1700 / month
B) $215k
C) 31
D) Born in Montreal, -25% within 5 years. Living in YYC now, -5% within 3 years.

#218 Cat in Calgary on 06.19.14 at 9:43 pm

Own (condo) – almost paid off
155k (just switched jobs – was making <80k up to this year)
58 and single
Calgary will not crash in 2 years, but it will at some point. Overall, Canadian RE values will come down by more than 20% and the only difference between places will be when it will happen. It's happening already in some centers.

#219 David W on 06.19.14 at 9:43 pm

A) rent
B) $105,000
C) 27 (I feel like I have a lot to learn about investing and not too many places to turn to for advice / mentorship so this blog helps)
D) 30% correction

#220 cash hater on 06.19.14 at 9:44 pm

In this country cash will never be king.
Except for a king of the poor and downtrodden.

The rich are rich and will continue to get rich by spacebound expansion of credit.

#221 Carly in Cabbagetown on 06.19.14 at 9:44 pm

Own (not for long, place is for sale) and rent



Expecting a short term drop of 30% in Toronto by about 2016, followed by a longer term overall reduction (price adjusted for inflation) of about 55% even in Toronto. We won’t get out of this mess well, and it will not be until the mid-2030’s that we rise back to the mean.

#222 Thirsty on 06.19.14 at 9:44 pm

a) Rent PPoR and own small investment property
b) $160k
c) 42
d) up up and up. -Expat currently in Australia. Have been waiting for prices to fall…for a decade. Was perfectly positioned pre-GFC only to see State and Fed government here throw everything at keeping house prices inflating all while being cheered by a complacent media beholden to RE advertising income . Bank guarantees introduced, first home grants increased, negative gearing untouched. It is different here (for now). I have missed out dearly by not buying 10 years ago (even though it would have been insane leverage relative to my income and assets) but now am well and truly priced-out and forced to back my initial bet by renting, staying small and waiting. -I hope you’re right, Garth! We are up against the Banks, Government and the Media over here. It is fugly.

#223 Joe2.0 on 06.19.14 at 9:45 pm

Smoking Man

Are you sure your not a realtor?
Your English is very creative, spending 100k in a casino.
The correct term is losing.

#224 Bowser on 06.19.14 at 9:46 pm

A. Own, no mortgage. No debt.
B. 85K (two pensions plus dividends)
C. 62
D. Reversion to mean.

I see prices falling on Van Isle but love the house and neighborhood so have no intention of selling ’till we are too old to look after the place.

#225 Prs on 06.19.14 at 9:47 pm

1) Own
2) Over $1mm
3) 37 yrs
4) Between 10-30% depending on region, class, and location.

#226 The R, on 06.19.14 at 9:47 pm

1 ) own but only 5 %

2 ) Sadly Single, 107,000 ( working ) + 12,000 per year investment income

3 ) 42 n counting…

4) sunny surrey bc = up , up , and away….

#227 Nardog on 06.19.14 at 9:49 pm

A. Own
B. 80k
C. 23
D. 10% correction

#228 Smoking Man on 06.19.14 at 9:49 pm

#164 Son of Ponzi on 06.19.14 at 8:57 pm
smoking man,
You’re next.

#229 Almontage on 06.19.14 at 9:49 pm

a) Own – small town Ontario nowadays.
b) ca 100K
c) Older than dirt.
d) Gotta correct – it’s happened 3X before that I know about.

#230 Old Man on 06.19.14 at 9:49 pm

#209 Joe2.0 – just talking with a senorita in Mexico and your in big trouble with 1a. SAT will get you one way or another for not paying your taxes and your rental property will be tagged for capital gains on the entire sale price. Hey they might even throw you in jail for tax evasion, oh btw did you get your two numbers of identification under the New National Tax Act?

#231 mark on 06.19.14 at 9:50 pm

Thanks for pulling back the curtain…..except these rats don’t scurry,they try too sell you a dream. 1. own,tiny mortgage 2.household $110,000 3.60 going on 29 4. 20%-40%

#232 Retired WI Boomer on 06.19.14 at 9:51 pm

a) Own (debt free)
b) 35K retirement income + from portfolio as needed
c) 62/62
d) US – to follow (local) economy / Canada – most areas
lose 10% again, based on (local) economy.

It is never about “how much” one makes, it is ALL about ‘how much’ one keeps, and ‘keeps’ working for their future. Thanks to your sage advice about diversity, and allocation our retirement portfolio is doing just fine!

#233 gladiator on 06.19.14 at 9:51 pm

a) rent
b) 105k in 2013 (one income, wife does not work yet)
c) 37 me, wife is 34
d) at least a juicy 35% in the GTA over a number of years. You see, in a meeting my company had with Garth’s friend from Scotia, Derek Holt (I had the privilege of being there), when asked about when his predictions of a downturn in housing will happen, Derek said “I’m an economist, not a fortune teller – I can tell you what will happen, but not when”. Thus, I cannot say when this will actually happen, but it will most definitely be uggggggly. Prepare accordingly.

#234 Gumdrop on 06.19.14 at 9:52 pm

1) Renting a studio apt in downtown Toronto
2)$70,000, with student debt $35k
3)26 female
4) RE development will continue in Toronto, I have seen a lot of proposed development postings on existing older buildings in downtown. Hoping to see more commercial RE development. But obviously the biggest “companies” Toronto has are condos.

Condo prices will start to go down or remain steady with inflation but won’t see a big dip in prices in downtown Toronto until condos start to cost more and more to maintain (which is certain because the quality of the glass buildings are terrible inside and out, I live in one so I know first hand). So another 5-10 years before condo prices start to really slide to balance unaffordable maintenance fees. Condo prices won’t ever recover.

Houses in Toronto though will go down slightly as well in the next 5-10 years but will go back up with moderate appreciation after 20 years. So I hope today’s homebuyers are in it for the real long haul.

#235 Property Accountant on 06.19.14 at 9:52 pm

A) Rent
B) 94K
c) 35 & 36
D) No change or slightly rising prices in hot cities like Calgary, Vancouver and GTA, small decline in others (over the next 1-2 years). Over longer term – significant correction 10-20%.

#236 gladiator on 06.19.14 at 9:52 pm

sorry, I meant a juicy 35% drop in GTA.

#237 Stomper on 06.19.14 at 9:52 pm

a) Rent
b) Married $300k
c) 51
d) Sydney, Australia – flat or down 5% each year for next 10 years

#238 Ben on 06.19.14 at 9:54 pm

a) rent
b) 87k after tax last year, but will be less this year (self employed)
c) 30
d) I like Garth’s predictions: TO condos, vacation homes and exurbs hit hardest, suburbs see slow, but major correction, trendy high density urban areas might stagnate for a while in high demand areas. It’s impossible not to buy into the data Garth presents day in, day out. Matter of time now for residential real estate… feel bad for friends and family who have bought recently.

Flabbergasted by the average income listed by posters here. Wonder why we’re screwed? Only above-average income people are reading this pathetic blog.

#239 D C on 06.19.14 at 9:55 pm

a) own, no mortgage since 2007
b) ~150000 gross household
c) 40
d) flat

#240 Ian on 06.19.14 at 9:57 pm

a. own
b. 74k
c. 25
d. 10-20% crash in Toronto/Van. Slow whimpering price drops for the next 10 years everywhere else.

#241 R on 06.19.14 at 9:57 pm



Currently paying down credit card and car loan debt as aggressively as possible with no plans to finance any new purchases.

Investment – self directed TFSA, trying to contribute as much as possible when not paying mechanic.

Age 38

RE: Nope. I’ll rent.

Bought A copy of Money Road, would be interested to know if an update is coming, especially one that addresses different asset classes and investment strategies for different age groups in a 2014 context.

I’ll buy it, especially if you release in ebook format.

#242 Lee on 06.19.14 at 9:58 pm

1 Own
2 170k
3 40
4 Calgary flat in next couple years, really like your financial releated post.

#243 Doc on 06.19.14 at 9:59 pm

I own my home in Okanagan rural residential area with two adjacent lots. Lots were assessed @236K in 2008 and are now 191K. House was 435K in 2008 and now 360K .Looks like a 15% slide for central okanagan.
I am 63, a medical specialist, and work 3 days per week: 2 days seeing patients and 1 day of paperwork. Wife works in office with me and is unpaid. Income from work after overhead is 4K per month.
I expect okanagan will keep melting down particularly condo’s (brother paid 475K in 2007 and can’t get a buyer in past year for 350K)
Total Investments (conservative portfolio) paid 2.7% between Mar 31 /13 and Mar 31/14. Sold gold for 300k 18 months ago to buy preferred shares in non registered account. Account down about 2% over that time. Sold gorgeous west side vancouver house 2010 for 1.9 m. Same house sold again recently. Lot alone now assessed @2.5 m
Gold up today over 3%. Silver up over 4%
Regular reader but rare contributor since beach girl disappeared. Hanging in but doubtful re strategy. Still, every day above ground is a great day.

#244 Vincent on 06.19.14 at 10:00 pm

late 20s;
on a job that pays less than I’d like, but good for the experience while looking for the next step up;
renting and mobile;
I can barely find decent paying work in Montreal/province of Quebec (Couillard, where are all the Plan Nord jobs you promised you’d bring back?), and it’s not like we haven’t shed tens of thousands of private sector jobs (like my company could be headed for) in the past months… I can’t see how these high RE prices are going to be sustained over the medium term.

More worryingly, what about the looming stagnation threat? Are we just going to rely on climate change refugees to bolster our active workforce?

also, Garth should update the copyright notice up to 2014 (at the bottom of the page)

#245 RW_Zed on 06.19.14 at 10:00 pm

a) Rent
b) 70k (single)
c) 29
d) 20-30% regionally varied correction over a small number of years, beginning 1 or 2 years from now; stagnation or slow decline as U.S. prices rise to eventually meet similar levels

#246 ETF FAN on 06.19.14 at 10:01 pm

Hi. Great work as usual, Garth.

A) Own. 80% paid off.
B) $110,000 incl investment income
C) Age 34
D) Prices unchanged in London and area

#247 BayCore on 06.19.14 at 10:02 pm

A) rent in Toronto
B) $140k household
C) 33, 31
D) in Toronto 40% drop in condos by end of 2015, 20% drop for houses

#248 lifeisgood on 06.19.14 at 10:03 pm

Hi Garth, great blog.

a) Own a 37′ travel trailer, rent the lot in Alberta 5 months ,USA 6 months and Mexico 1 month.
b) 120K
c) 53
d) 30% drop in Calgary within 36 months.

#249 Mr. P on 06.19.14 at 10:03 pm

A) Rent a semi in Ottawa for $1285 (after four increases from $1200 since 2010)
B)Common law, approx. $83k (she’s a student)
C)34 (me) and 28 (her)
D)In Ottawa: taper as the gov’t layoffs start to have their impact on overall economy. More or less stagnant prices over next five years.

#250 Nero on 06.19.14 at 10:07 pm

A) own SFH and 2 semies 30% down on all
B) 90k
C) 32
D) 15-20% correction

Inflation will tax the wealth of the boomers in the next 10 year.

#251 Cow Man on 06.19.14 at 10:08 pm

Sir Garth:
This must be the highest household income of readers blog, in north America. You should be so proud, that you attract 20,000 high income earners per day, based on this survey, to your musings. Give me a break.

#252 westcoaster on 06.19.14 at 10:10 pm

a) rent – used to own 7 properties, including a bona fide McMansion (sold for 1.2 M). Last revenue property sold 3 years ago. Now rent a $1M place for ~$2200/mo. Do the math.
b) >$200k/yr + investment income on the 7 sold properties. Diversified per “the Garth protocol”
c) 50+
d) do not expect a crash here (Victoria) but would bank on 10-20% once artificial resuscitation has become exhausted.
Life is good.

#253 CalamityJane on 06.19.14 at 10:10 pm

(a) Rent (2 bed in Toronto)
(b) $115,000
(c) 30 (F), 29 (M)
(d) Already in decline which no one is noticing or if they are, they’re not talking about it. Looking at properties to the East to move closer to my business and with the exception of a few well priced houses which create a frenzy, it seems like the market has slowed. Found so many homes I thought sold last summer re-list this spring with the same asking price (for the stupid & stubborn) or lower asking and better staging (for the realists). We’re looking in the under $400,000 but realistically not paying over 299,000… or anything at all as I can’t stomach purchasing something I know will be worth less in the future. It’s like buying a new car, sure it’s nice but why bother when used will do just fine.

#254 mikek on 06.19.14 at 10:12 pm

a) own house and cottage
d)10% down in my 905 hood. Cottage probably 10% down already.

#255 god of ponzi on 06.19.14 at 10:12 pm

a) parents free loading
b) 5-10k a yr, vacant properties total of 4.5mil not in canada
c) 31
d) Q1 2015 plateau in prices. by Q3 prices are going to decrase 3-5% 2016 Q2 uptake in prices again due to “media and real estate agents so called time to buy”
Q4 the CRASH of 20-30%

#256 Nobody on 06.19.14 at 10:12 pm

Love your blog!
a) Rent in Toronto, debt free, own (with mortgages) 2 houses in Chatham-Kent area.
b) Self-employed/semi-retired. Looks the poorest on this blog.
c) 49 & 55
30% crash in hot markets.

#257 jls1002 on 06.19.14 at 10:13 pm

a) rent
b) 115k
c) 40
d) -20% by 2016

#258 Pascii on 06.19.14 at 10:13 pm

a) rent and not buying anytime soon
b) 135K-ish family
c) 41
d) a gradual crumble over 10-15 years.

#259 Victor V on 06.19.14 at 10:14 pm

(a) rent
(b) family income – approx $275,000 (dependent on RSU prices)
(c) age 44 and 33
(d) this won’t end well

#260 KommyKim on 06.19.14 at 10:15 pm

a) own
(b) under 75K SINK
(c) 48 & 67
(d) I was going to say 10% additional drop and then stagnation. Then I read all the comments about the 20 somethings making 140K+ and changed my mind to a 5% rally year over year to infinity.

#261 Duck Feet on 06.19.14 at 10:15 pm

Long time daily reader, dog owner, non commenter.

A) Live w/ parents
B) 40k
C) 27
D) Slow melt over the next 5 yrs, followed by a plateau. Maybe an average decline of 15%

Thank you for all your advice, it has helped to provide me with some clarity and inspired me to be more diligent in my research.

#262 Otterslide on 06.19.14 at 10:15 pm

a) own, no mortgage

b) $0 since the factory shut down and went back to USA without paying us. But hey, don’t cry – we knew we were taking a risk with both of us working there, so we stayed out of debt and used our cash wisely. Always have an exit plan, my friends.

c) early & mid 50s – too old to get hired anywhere, even if there were jobs to be had around here.

d) down of course – where else can it go? The highest markets will crash the hardest, the rest will whimper and limp for a decade. We don’t care, we bought this place cheap & figure to die here. Unless we decide to pull the Ultimate Exit Plan – cash out, max out all our credit lines in folding money, and abscond to some tropical beach with no extradition treaty. I will hire Himself out as a wrinkly beach boy.

#263 not yet on 06.19.14 at 10:16 pm

a) rent the most beautiful apartment in Victoria
c)68 & 66
d)50% but not soon enough, thanks to CMHC

#264 Kyla on 06.19.14 at 10:19 pm

A) rent $1050 full 2 bdrm upstairs with big yard, garden, greenhouse, garage, driveway 5 min drive to work in victoria
C) 27/30
D) in victoria prices will go down especially for homes > 550k. You can already see those houses on sale for a long time. Ones in my area worth 400-500k seem to get snatched up in days. I think higher end homes will see a 25% decrease but cheap ones will keep selling off to people who don’t know better than to buy a house that is falling apart.

#265 Jan Truman on 06.19.14 at 10:19 pm

a) Rent $2000 per month,

bought it in 2001 for $250,000 sold it in 2010 for $1.7 it was renovated. Own a Mexican property near the beach in Vallarta. Property tax on my place in 2010 $11,700 per year because our house was over the assessed value to be granted the “home owners grant” on the taxes. I believe it is anything over $1.2mil. That’s half what I pay in rent now and I don’t have to fix my own roof to boot!

d)When I sold my place in 2010 my next door neighbour also sold for a similar price, that house is again on the market for the last 6 months with no offers at the same price as 2010. This is in North Vancouver. I don’t believe what the real estate associations release in the press regarding house prices. Many place I see are listed at the 2010 equivalent price. I think that there has been a shift in the average transaction value that is affecting the way the numbers are processed by CREA. I think that the market based on local residence income is overvalued by about 50% and based on international money about 20%. IF the interest rates go up and Canada keeps international money limited with the investor programs, including closing the back door left open in Quebec, many will be hooped.

#266 Etobicoke Renter on 06.19.14 at 10:20 pm

a) rent
b) 100k + 75k + ~20k-~40k side business
c) 30/29
d) Irrational

#267 Daniel on 06.19.14 at 10:23 pm

(a) Own
(b) family income – $180,000
(c) age 33 and 30
(d) Flat or Up 5% in Toronto (next 1-2 year), latter is likely to correct, God knows how much.

Come most for the investing and economical outlook.
Thanks for the good work

#268 The Prof on 06.19.14 at 10:24 pm

Own in the US, rent here.
$150k family income. over 500k in assets.
I think CDN housing prices will drop as interest rates go up next year. How low, hard to tell (I’m hoping for a 25-50% drop in Vaughan/Richmond Hill).
Thanks for the blog Garth.

#269 Glen B on 06.19.14 at 10:25 pm

A Renting
B 70K
C 51
D Hoping for a major correction (30-40% in hot areas) in the next year or two so I can get back into a house. Not willing to drop half a mil or more that I don’t have and be a debt slave to real estate. I didn’t need the blog to tell me that. Not willing to pay much more than $300K for a modest detached with a half hour commute (GTA). If it doesn’t happen then screw it.
My Debt = 0

#270 Computer nerd on 06.19.14 at 10:28 pm

a) Currently live in my parents’ house, have rented in the past and will rent again very soon. Currently in saving and investing in ETF mode. No intention to buy until I’m 40.

b) My personal income is ~$75k as a Computer Engineer with 5yrs experience. Garth, if you ever need help with the website I will help you for free. The least I can do for all your lessons on personal finance.

c) 28

d) Many family members and friends all own real estate, so I hope for their sake there is not a large crash. Probably will not happen unless lots of people can’t pay their mortgage, or, when nobody can get easy credit anymore.

Prices are at all time highs, interest rates hit a floor, CMHC scaling back risk, home ownership around all time highs, huge supply of condos and subdivisions in the pipeline. Outsiders of Canada warning price-to-income and price-to-rent are astronomically high. Prices can’t keep rising forever, right?

I actually don’t care about ownership prices, as long as there’s good rental supply with declining prices I’ll be happy.

#271 BB on 06.19.14 at 10:28 pm

a) Rent
b) 105k
c) early 30ies
d) Big crash of 40% in Canada after Chinese – “0” down bubble and UK – Carney made bubble burst in the light of high commodity prices (Iraq + Ucraine).

“When people do not have bread due to high prices, who needs a $1M shelter ? ” – Maslow’s pyramid of needs, basic economics.

#272 Dirk Dizzler on 06.19.14 at 10:28 pm

A) own
B) 150K +
C) 43
D) 10 – 20% slow decline

Would not buy my own house at current prices(more than doubled in 10 yrs) You would have to be insane

#273 wendi1 on 06.19.14 at 10:28 pm

a) own (and it’s modest, well maintained, paid off, and I’m not selling).
b) 120K
c) 55
d) here in Ottawa, it will sink slowly, then stabilize. I expect modest homes like mine to hold their value better.

#274 W on 06.19.14 at 10:29 pm

a) Rent
b) $130k
c) 27
d) 0-5% decline over the next 1-2 years

#275 Karie on 06.19.14 at 10:29 pm

a) Own
b) 100k+ family of five; I am absolutely and completely shocked at the income levels posted here
c) 40’s
d) No crash or correction till interest rates go up at least 1% or more; if house prices go down, panic may set in and cause correction of maybe around 20% ish.

#276 Herb on 06.19.14 at 10:30 pm

a.) rent (after having owned for 30-odd years);
b.) retired, 84 K (CF pension, CPP, OAS and invested housing capital)
c.) 73 – DO NOT CONFUSE ME WITH OLD MAN; (wife still young and beautiful but gaining on me);
d.) remembering the early ’80s and ’90s, 25%+ reduction for housing, 30%+ for real estate agents (hallelujah!)

#277 D on 06.19.14 at 10:31 pm

1) Own
2) 320
3) 34
4) 5-30% depending on hood.

#278 CREIT on 06.19.14 at 10:31 pm

First time poster:

1) I Rent in Toronto but I own investment properties.
2) household income 130,000
3)35 and 34
4) I expect the market to start a slow decline of 10-20% in the next 2-5 years in the Toronto area.

#279 SleepyMoncton--no more on 06.19.14 at 10:38 pm

$123k-household income
National 15%…many places worse.

Yes I’m one of those read and dodge instead of a blog dog… I admit I need my greater fool fix as part of my end of day wine down ..comment section and all. Thanks Garth

#280 Seven Stars and Orion on 06.19.14 at 10:38 pm

A long time reader, nearly 5 years.
-ostracized renter.
-42yo husband, 38yo wife, 3 children.
-a reversion to the mean and undershoot is a forgone historical certainty. It’s just that pesky timing thing.

#281 Baa on 06.19.14 at 10:40 pm

Own (mtg. free), 50K, 58 yrs. old, RE flat/down

I come to learn and a good laugh. Thanks.

#282 just a normal guy on 06.19.14 at 10:41 pm

1. rent
2. 120k
3. 41
4. 20% reduction in 1 to 2 years in gta

sold the house in gta in 2008 for 460k as a safer side in the newly adopted country, which increased by another 200k later :).

#283 Mrs Blue Sky on 06.19.14 at 10:42 pm

A) Own
B) 120,000
C) 38 and 39
D) I finally convinced my hubby that we should sell a house we’d been renting out. His family thinks I’m nuts because we live in Alberta and we are special here. So…the market is sure to spike over the short term so they can hassle me at Christmas time and say they told me so.

#284 Frank Rizzo on 06.19.14 at 10:42 pm

A. Own (250k outstanding mortgage on 450k house)
B. 350k
C. 40 and 40
D. Modest gains in modest markets. Declines in GTA and VAN

#285 insider on 06.19.14 at 10:43 pm

(a) own,
(b) more than enough to share,
(c) 49
(d) probably serious correction greater than 40% major population centers.
BUT, trigger event is needed, and if I had to guess I would call a rate hike not set by BOC but by bond market. It won’t take much.
When? At any time….and this can go on for a long long time. Negative real rates anyone?
God knows the future, not me, but there are indeed stormy clouds on the horizon.

#286 Island girl on 06.19.14 at 10:44 pm

1. Renting farmhouse and trying to negotiate cheaper rent for different larger farmhouse.
2. $86k (2 IE)
3. 38
4. Hoping for crash, but is seriously contemplating building tiny house on wheels and not buying ever. (Renting until kids leave nest then moving tiny custom house on wheels ANYWHERE we want because I work from home.)

#287 [email protected] on 06.19.14 at 10:45 pm

With all the above average salaries on here would ya’ll really be worried or affected in any way with a correction?

#288 Calgary Owner (2nd Round) on 06.19.14 at 10:47 pm

a) Own (fresh mortgage, but some equity due to rising prices)
b) 140k
c) 33
d) Next 1 or 2 yrs? Don’t think Alberta is slowing down. After that? Depends on Oil of course. Boom or holy-shit, eh Garth?

BTW, do you watch the World Cup? Or has the financial madness around you made you too bitter for such things?

#289 trinmonk on 06.19.14 at 10:47 pm

A) rent (1 BDRM downtown Toronto)
B) $80k
C) 35
D) Toronto will remain stable (except for the condo mrkt) GTA (ie 905) and further out will drop 10%

#290 Teacher's Ass-istant on 06.19.14 at 10:48 pm

A) Really sweet spot under a bridge
B) Down to only 4.3 Million so for this year. My paper route keeps shrinking because of the damn internet.
C) 15
D) I’ll have to hire security to save my place under the bridge while I’m doing my paper route because of all the people who will be losing their houses.

The lady that lives across the creek on the othe side of the bridge says to say hi Garth.

I solemnly affirm and attest that everything in this post is absolutely as true as a vast number of the posts before it.

#291 Smoking Man on 06.19.14 at 10:48 pm

What I’ve learned tonight, after close to 300 comments people love to talk and brag about themselves.

But they are programed to only do it by invitation of someone they deam to be an authority figure… The teacher said, just for today, brag feast on….

And you all came a running…. Humans, so predictable.

The good news is, a study cane out, people who self promote are always much more successful than those that play humble.. Hoping the master notices…

I’m proud of you bragging bastards.

I’m the poodle, and definitely not a pug…

#292 Adriana Lima on 06.19.14 at 10:50 pm

Rent in Toronto (sold our house last year). I’m from Brazil and my husband is Canadian. We own a condo in Brazil.
Income 102k
36 and 39 + 2 kids (7 and 3).
25% in the next 2 years.

#293 Patiently Waiting on 06.19.14 at 10:51 pm

1) Rent
2) 360,000…………..(I wish)……………actually 110,000
3) 36 and 37
4) I live in YVR so 15% correction by the end of 2015.

#294 Trying on 06.19.14 at 10:52 pm

A) Rent in Ottawa
B) $115,000
C) 47
D) 15% reduction by 2016

#295 Jendoll on 06.19.14 at 10:53 pm

a. Rent
b. 190K
c. 43
d. I just believe everything I read here!

#296 Pattullo bridge dweller on 06.19.14 at 10:54 pm

1. Own ( mortgage free )
2. $ 108 k (Family)
3. 51 & 48 yrs. old
4. No, until high unemployment in Vancouver

I wish you will produce nice stats soon

Thank you

#297 I_am_inadequate on 06.19.14 at 10:54 pm

Wow, inadequate how I feel after reading the information disclosed. (I used to feel pretty smug)

a) Rent
b) US180K (single income)
c) 43
d) 30% (so I can get back to home ownership in TO. Family reasons)

I didn’t crack 100K until 34 even with MBA and Masters in Engineering. Just wondering what went wrong.

#298 Jen on 06.19.14 at 10:55 pm

a) own- bought in 2009
b) 180K- 190K
c) 45 and 51
d) Based on quoted incomes so far, not going down any time soon.

#299 Striker07 on 06.19.14 at 10:56 pm

Been visiting since 2010. Felt compelled to make a first post tonight.

a) Own (modest townhome)
b) $160K
c) 31
d) Shot in the dark, but 30% correction for major urban centers, 15% elsewhere.

Regardless of what happens in the housing market, we are well diversified, in large part because of this great blog. Thanks for all your dedication Garth. I recommend your blog all the time. Cheers.

#300 Ttt on 06.19.14 at 10:56 pm

Own, $150k personal, $230k family, 36&36, GTA 10-25% depending on area.

#301 Andrew on 06.19.14 at 10:57 pm

a. Rent 950sf condo, $600k of liquid
b. Family income – $250k
c. 35 and 41
d. Cowtown, predict av sfh price drop of 5% for every 1/2% prime increase.

I lived in Vegas 2001-2007….house dropped 45% between 2006 to 2010, when I finally sold after trying to “ride it out” as an absentee landlord losing $2,300 per month rent to ownership disparity. Interest rate increases snuffed out any buyers…financially pummelled mortgage holders and nobody could compete with desperation-foreclosure sales. People had to come up with lots of extra cash….poof, all our “equity” and disposable income disappeared.

I read the blog to analyze what I did wrong in Vegas (like looking in a mirror reflecting 12 years ago) and use Garth’s advice to protect myself from living thru that nightmare again.

#302 Sydneysider on 06.19.14 at 10:58 pm

Lifelong renter
Family income around 140K
Age low 50s
Two-year outlook: prices will drift downwards after another year or so, and continue that way for some years

#303 cash hater on 06.19.14 at 10:59 pm

Looks like the average income earner here makes 200k+.
Again, so full of manure !!!!!!!!!!!

#304 elrowe on 06.19.14 at 11:00 pm

I stumbled upon this blog a while ago, and enjoy reading it most evenings.

Currently, renting a condo in Toronto for $1500/month, why would I buy here & now? Did own SFDs from 1993 to 2012, now the cash has been invested wisely and is doing just fine, thanks. Plenty in RRSPs & TFSA, but definitely plan to add more to the TFSA before hanging up my spurs in 7-10 years.

Income for 2014 looks to be about $60K. Self-employed and like it that way.

Age 55, in excellent health. Recently divorced and lost 180 lbs of ugly fat. Ba-dum-dum.

The real estate market is completely irrational. I’m happy to be out of the RE market right now, but wouldn’t completely rule out buying RE again but only at the right price and right circumstances. It’s great to not be house horny.

I enjoy your blog, and especially the comments section. It’s always informative, thought provoking and/or entertaining.

A recommended reading list sounds like a great blog topic. Who/what would you suggest we read?

#305 JK on 06.19.14 at 11:02 pm

a) Mortgaged 68%
b) 120,000
c) 33 and 32
d) Calgary. I cant believe what my neighbours sold for this year. I think it will go up another 7% in calgary for the next two years, with a decrease of 10% in the rest of the country.

#306 213 fool on 06.19.14 at 11:04 pm

1) mum’s house in socal
2) high 60’s plus rental property with negative cash flow (yes, oops). BTW, holy rich readers!
3) 32
4) no crash until I’m ready to capitalize on it. Should be about 5 years or so. I’ll let you know. Until then mix of ups and downs as per usual.

#307 Fiendish Thingy on 06.19.14 at 11:04 pm

a)renting since 2010 after owning for 25 years
b)married with single income of $80k +$20k pension
c) 56
d) here in the Lower Mainland, 30% or more for SFH and 50% or more for condos over the next 2-4 years, the nyears of stagnation

#308 boomer21 on 06.19.14 at 11:05 pm

65+ own, debt free. 60% indexed pensions, 40% non registered investments. Very happy, very comfortable with my investment portfolio and my low MER. Life is good, ok spell check wanted to say ” life is gold”., ok whatever!

#309 liquidincalgary on 06.19.14 at 11:06 pm

a) rent
b) ~80K (sell employed)
c) early Gen X
d) patiently waiting for correction…bc for yrs, goal posts weren’t just being moved, but moved HIGHER, conststantly, just out of reach of a down payment

ok. now who is going to collate all this??

i’m no amazon :P

#310 Deano on 06.19.14 at 11:06 pm

Own 240k house (mtg for 170)
Spots are screwed-others are just pooched.

#311 Harry Wilson on 06.19.14 at 11:06 pm

A – Rent a basement under a hair salon (converted bungalow), and love it. Would never own.

B – $0. Unemployed since December 2009, old and gimpy (don’t make me shake my cane at you), so no prospects, gave up in mid-2012. Broke $30K a couple of times in my working life. Now living on my savings, with a 50/50 shot of making 65.

Am currently considering bank robbery as a career. If I get caught, I will have a place to live until retirement. If I get away with it, I will have a place to live until retirement. Win/win.

C – 410, in dog years.

D – This is the tricky question, as there is some disagreement regarding when the slide starts. In my sunny corner of Edmonton, Alberta known as Boyle/McCauley, home to the 1% (bottom), it looks like prices have dropped about 7-12% in the past year. If I were to make a bet, I’d say another 10-18% over the next two years, depending on the crime rate. (Yes, that’s a real factor here. A couple of crackhouses on your block goes a long way.)

To me, this would mean a total drop of 17-30% total. To realtrz, however, the drop of the last year didn’t happen. If they peg the top of the market as today, even if we agree on the next two years, they would only be admitting to a total drop of 10-18%.

As for interest rates, I’m far from an expert, but I’m hoping for a long, gentle rise, starting soon. The millenials should be hoping for the same thing.

Can you imaging the bitching they would take from the generation now hatching, about the cushy life that the milliniels had, if they were to pay 3% for the life of their mortgage and the next generation pays double or triple that?

P.S. No one is actually reading this, right?

Right. — Garth

#312 liquidincalgary on 06.19.14 at 11:09 pm

PS Garth: cycle-size set of truck nutz on their way!
gilded with all that Bre X gold just for you

#313 young & foolish on 06.19.14 at 11:09 pm

Wow, such a diverse group of disciples! So many high earning renters, well diversified, liquid, and “ahead of the curve”.

Real estate is for suckers to this group (unless they report massive earnings).


#314 whatsthatsmell on 06.19.14 at 11:09 pm

I have no idea, but I do know that Toronto is to expensive for my wife and I to buy anything.

#315 Exurban on 06.19.14 at 11:10 pm

Some of the incomes given here are a little hard to believe, but married couples working full-time in urban areas really do have significant incomes. Two employed edumacated people are likely to make $100,000+ a year. A blue-collar skilled-trades guy married to a nurse or teacher probably have a combined income around $150k. Two white-collar professionals will be approaching $200k or better. That said, they’re also paying the worst kind of taxes, the ones on employment income, and the costs of governments are socking it to them.

#316 mid20s millenial on 06.19.14 at 11:10 pm

1) Rent
2) Common law, total around $95k
3) 25 and 23
4) Hopefully 20-25% correction so we can afford something decent in the GTA

#317 d on 06.19.14 at 11:11 pm

Rent – Toronto
190k household
40 and 40 + 2yr old
Declines will vary greatly by region/city (5%-25%). i.e. Toronto is delusional but could be this way for a while yet.

#318 cash hater on 06.19.14 at 11:13 pm

#308 Harry Wilson on 06.19.14 at 11:06 pm
A – Rent a basement under a hair salon (converted bungalow), and love it. Would never own.

B – $0. Unemployed since December 2009, old and gimpy (don’t make me shake my cane at you), so no prospects, gave up in mid-2012. Broke $30K a couple of times in my working life. Now living on my savings, with a 50/50 shot of making 65.

Am currently considering bank robbery as a career. If I get caught, I will have a place to live until retirement. If I get away with it, I will have a place to live until retirement. Win/win.

C – 410, in dog years.

D – This is the tricky question, as there is some disagreement regarding when the slide starts. In my sunny corner of Edmonton, Alberta known as Boyle/McCauley, home to the 1% (bottom), it looks like prices have dropped about 7-12% in the past year. If I were to make a bet, I’d say another 10-18% over the next two years, depending on the crime rate. (Yes, that’s a real factor here. A couple of crackhouses on your block goes a long way.)

To me, this would mean a total drop of 17-30% total. To realtrz, however, the drop of the last year didn’t happen. If they peg the top of the market as today, even if we agree on the next two years, they would only be admitting to a total drop of 10-18%.

As for interest rates, I’m far from an expert, but I’m hoping for a long, gentle rise, starting soon. The millenials should be hoping for the same thing.

Can you imaging the bitching they would take from the generation now hatching, about the cushy life that the milliniels had, if they were to pay 3% for the life of their mortgage and the next generation pays double or triple that?

P.S. No one is actually reading this, right?


#319 Yuus bin Haad on 06.19.14 at 11:16 pm

On the Internet, nobody knows you’re a dog.

Sorry, couldn’t resist.

(a) own
(b) enough
(c) older than Garth
(d) mean reversion

#320 GTA Observer on 06.19.14 at 11:18 pm

(a) rent
(b) $160K / no debt / $2M net worth
(c) older than dirt
(d) sales stall, then prices down

#321 Montrealer on 06.19.14 at 11:19 pm

Wow 316 comments already!!

(a) rent (b) $150k (c) 34/32/0 (d) Stagnate or slightly lower.

#322 Capt. Obvious on 06.19.14 at 11:19 pm

(a) rent or own
Were owning, will be renting in a more convenient part of town in about 30 days.
(b) family income
(c) age
and (d) your outlook for real estate over the next one or two years.
Flat to down, maybe 10% down.

#323 Vamanos Pest on 06.19.14 at 11:20 pm

1 rent
2 500-ish
3 mid-30s
4 50-60% crash from peak to trough, although it will take many years

#324 AisA on 06.19.14 at 11:22 pm


Not a pot to pizzin’ (this country). Started a company last year and will be taking it online by the end of next week. Not so bad after two years of donkey work.


60% minimum MINIMUM! M!I!N!I!M!U!M! Van and TO. (is that yelling?)

Montreal (30% minimum, anyone tells you it’s cheap here hasn’t tried to earn a paycheck outside the guvmint)

3 out of 4 answers are or will be proven true. More likely all 4 are or will be proven true in the next 5 years. Even more likely, no mortgage signed this year will be paid off in 5 years.

#325 Colin on 06.19.14 at 11:23 pm

Sold in Nov.2011 anticipating a correction….waiting on the fence but losing patience.this blog keeps me focused..
$80 k.
25% correction would be very realistic..Not sure but feel prices are completely out of whack with reality.
There is to muCh government intrusion causing what will amount to a lot of misery for many people in the future,unless the government decides to open the immigration gates to save the real estate market once the market starts to plummet and threaten the economy…

#326 Chaddywack on 06.19.14 at 11:25 pm

(a) rent
(b) $135,000
(c) 31/29
(d) Vancouver……I say 40% fall over the next 3-5 years.

#327 M&M on 06.19.14 at 11:26 pm

(a) own (no mortgage)
(b) 60K (investments & pension)
(c) 58 (retired)
(d) 10 to 15 % correction in the GTA within 5 years

#328 wicked as it seems on 06.19.14 at 11:26 pm

A)Wife own and me rent in her house.
B)Retired..Have 500K+ in diversified, liquid, portfolio
D)Live in Victoria in summer, winter live in tropics. Will never ever buy again, renting and minimalistic lifestyle are the way….less is more….I live like a wealthy man on cpp and dividends.

#329 TO Couple on 06.19.14 at 11:27 pm

Hi Garth… First time post but longtime reader. Always wanted to say, hope your leg has mended well.

A) Rent

B) $160k combined – legit (ok, a lot of big numbers on here, but think that’s the norm with who would read a real estate/investment blog…)

C) married 36 & 27

D) 1 year – 5% to 7% continued growth as nobody is doing a damn thing to stop this runaway train. Rates will stay at or below current = continued demand.

2 year – 0% (flat) – but cracks in the mortar. Even if rates hold, the tipping point for earnings is already happening (TO). I just don’t know how people making $160k a year afford $3,500k a month mortgages now??? I’ve done the math and it’s just doesn’t compute. They must hate vacationing… Or doing anything fun for that matter.

Past this, it all depends on interest rates. This is all that is propping it up now (from a virgin homebuyer and our struggle to make the jump).

I would LOVE to see a 1% increase now, like, yesterday… Not to have anyone drown, but just to stop the madness. That, or making the minimum down pushed to 7%, maybe even 10%. Something… Anything. Only then could I justify the risk.

Happy days would be a 10% decline over 5 years, softish landing and no carnage … A number of our friends got in within last 3/4 years – we would like to see them stay afloat (everyone for that matter).

#330 Sen Dogg on 06.19.14 at 11:29 pm

(a) rent
(b) $130K combined
(c) 31 & 32
(d) in YVR – slow decline over the next decade. Ppl are too obsessed with real estate in this city and see it as the only investment option
(e) savings: $115K

#331 OttawaguyRenting on 06.19.14 at 11:30 pm

40 –
Once owned now Rent
130k Household
She has full bennys and a pension

Index Funds
Cash Happy
RSPs and TFSA being used

No Kids Living the easy life

Look out to Suburbia and want to puke

#332 young one on 06.19.14 at 11:33 pm

A) rent
B) single 48k
C) 22
D) in the peg, 5 years of no growth followed by years of 2 to 5% growth. Not too exciting, not the greatest investment.

#333 TurnerNation on 06.19.14 at 11:33 pm

400th?? Late to today’s blog. I am blog dog hear me roar.

#334 ovidet on 06.19.14 at 11:34 pm

A. Rent
B. Married, 150k
C. 35/34
D. Too many variables to make a call

#335 S-in-CochraneAB on 06.19.14 at 11:36 pm

A) own – for now
B) 195-245 – off / on site
C) 31 & 30
D) not really sure but a decline of some nature
E) she’s got a pile of student loan debt

#336 chumpy le chump on 06.19.14 at 11:36 pm

1. own in West Vancouver
2. $200,000
3. 43
4. doubtful for crash in Lower Mainland- held out for 5 years but partner cashed in on inheritance and I lost my decision making power. prediction is stagnant or minimal gains in choice areas of Lower Mainland SFH; North/West Van, Westside, decent areas of East Van.

#337 lurker on 06.19.14 at 11:38 pm

Own (100k left owing)
Think there’s a 15% correction due, but also wondering if higher prices are in part due to inflation of the money supply. We’ve created more money, thereby raising the price of everything related to our dollars. Food/Gas/Housing all going up quickly, all things we need to live.

#338 liquidincalgary on 06.19.14 at 11:38 pm

#18 Shawn said:

Sure, but after a couple of decades of marriage it make take more like a month, plus dinner out and copious wine…

copious amounts for her or you??

#339 Scotto on 06.19.14 at 11:42 pm

A/ Own
B/Family income- $140K
C/ 56 and 54
D/ Not moving so I don’t care what RE does.

Hardly ever post, just send in my dumb pictures.

#340 Samson on 06.19.14 at 11:42 pm

RENT ($1300) @Vancouver
$180,000 combined
42, 40
Sfd -30%, Condos -40%

#341 Jon on 06.19.14 at 11:42 pm

Rent vancouver
157k single
0-5% drop 2015. In van
10% drop 2016 van
3-5 years of lower prices.

This assumes interest and borrowing becomes more difficult if not then flat to small growth

#342 omg on 06.19.14 at 11:42 pm

Holy crap Garth, look at how affluent your readership is!!

Lots of +$200k/year 30 year olds.
For my part

1) rent after cashing out in 2007
2) mainly investment income and some part time work $60k to $110k depending on what we need
3) 50ish
4) stable for the next couple years then long slow correction over the next 10 to 15 years.

#343 maka on 06.19.14 at 11:44 pm

a) own (< 170K mtg)
b) 80K
c) 39
d) -20%

#344 Victoria or Bust on 06.19.14 at 11:47 pm

(a) rent AND own (landlord),
(b) 180k,
(c) Married, each 35 and
(d) Victoria (Rent), 20% ‘correction’
Red Deer (own): 500K and down, 10% up – 500K and up, 10% down.

#345 Janet on 06.19.14 at 11:47 pm

not good

#346 yabut on 06.19.14 at 11:47 pm

a) own
b) $275K
c) 50ish
d) 10% in two years is a reasonable guess. Long term (i.e. 5 years+) I expect stagnant or mildly declining prices to the point that ‘conventional wisdom’ dictates RE is a terrible investment.

This is a ridiculously fun and useful blog, btw.

#347 dave on 06.19.14 at 11:48 pm

Home owner in Ancaster
Household income 180k
Increase of 3% per year. When interest rates move higher in 2015 or 2016 the market will flatten out….maybe even melt lower up to 10%

If/when China’s banking system goes through its crisis in 2016/2017 – we could see a major unwinding

#348 Joe2.0 on 06.19.14 at 11:48 pm

#230 Old Man
The secret to not getting nailed is just to pay your taxes.
Mexico’s slowly but surely getting their act together technology wise, joining the dots.
It’s just not worth it.

Your señoritas correct eventually people are going to be tracked down and made accountable, Mexican style.
They are getting very proactive.

Don’t do the crime don’t do the time.
I appreciate the advice.


#349 Ontario's Left Coast on 06.19.14 at 11:48 pm

1) Own house, cottage and building lot
2) $275 – me, she who must be obeyed + investments
3) 46
4) 20 per cent

#350 Tri State Pat on 06.19.14 at 11:48 pm

(a) own
(b)100K USD
(c)49 me , 53 main squeeze
(d)Slow but steady decline over 5 years, -30% from the top. Interest rates won’t be the culprit, more likely $2 gas prices will do us in.

#351 Mark on 06.19.14 at 11:53 pm

D-5-10% gain, unfortunately

#352 OttawaGuyRenting on 06.19.14 at 11:55 pm

I find it funny people are shocked at salary size


I know about demographics…

I know this one well being in Ottawa and knowing someone that is in the circle OF sharks that Garth used to
Swim with

They have money … Garth and this site attract HIS kind…. Believe me… I can tell and I only make 75-90k

#353 sideline sitter on 06.19.14 at 11:57 pm

1. rent. .. own commercial
2. $280k, but last year was exceptional, this year will be much less
3. 37 + 35, downtown T.O.
4. 5% in 2015, 5% in 2016

#354 Godth on 06.19.14 at 11:57 pm

I think real estate is whooped but that means we’re all whooped and that leads to some interesting questions. I think there are more elephants in the room than just real estate. I think economics feeds them all. Maybe we need to get the underlying economics questions asked and answered before we proceed with more ideology. I don’t know the half of it but it’s more interesting than most people think it is.

We’re making it up; it’s all fiction. What story do we want to tell ourselves when the pig-out ends?

#355 Mississauga on 06.19.14 at 11:57 pm

+7% / year. Flat in 3 for 2 yrs. then -10%. In my opinion

#356 LTL_FTC on 06.19.14 at 11:59 pm


The other day I was explaining to my 13 year old two things that people love to lie about – income & grades.

Interesting but blah-blah until you see the CRA Notice of Assessment or Transcript.

#357 Westcdn on 06.19.14 at 11:59 pm

1. Own – SFH in Calgary with $75k mortgage due to divorce, $75 Heloc for speculative investing
2. Retired – annual pension $16k (indexed) including health and dental plans, investment income varies – current average annual $75K and had been rising about 10% per year. I will be taking CPP this year – $7k per annum.
3. 59, divorced/single, no pets, empty nest but have an old friend (also divorced) temporarily renting a basement bedroom (just sold his house)

I don’t see a Calgary housing correction in the next two years but I am budgeting $35k per annum investment income for the next 2 years. My biggest expenses are income tax followed by property tax. Travel/vacation might take over 2nd place if I get over my frugal ways. After all, conspicuous consumption can be fun.

#358 ash on 06.20.14 at 12:00 am

1) Rent
2) 93k
3) 37
4) 50% to get to 3-4 times average salary over couple years

#359 Larf on 06.20.14 at 12:00 am

1) Rent
2) Single income family, ~$160,000 CAD
3) 33
4) Vancouver clings to madness till the very last, but 40% crash when unemployment and interest rates climb.

#360 Flamed out in Kitchener on 06.20.14 at 12:00 am

A. Own (no mort)
B. 90k gross (household)
C. 55
D. Depends on local / regional market. Hotspots (Van, Cal, T.O. ) should see a gradual decline by about 20-30% once rates rise, other areas more stable with a 10-15% gradual decline. Once economy picks up (2017+) on back of U.S. growth, should see stability with very low annual price gains (1 – 2%) … all depends on job and earnings growth ultimately.

#361 kamau on 06.20.14 at 12:01 am

a) Rent
b) 80, 000
c) 30
d) In Saskatoon, 10% if interest rates are suppressed; 30-50 if reality returns.

#362 bill on 06.20.14 at 12:03 am

1] we rent , my family owns 40 acres of farmland on a gulf island plus some waterfront on same island and a couple of lots in Vancouver.
2] 54,00 plus or minus depending on the film industry health and if my wife works more than 2 or 3 days a week… [not counting investment income]
3] married with 2 cats and some semi-feral corvids.
4] I am 60 and my wife is 51 years old
5] as per Garths version of the future: a bit lopped off in the initial downward trend and then the melt…

#363 Obvious Truth on 06.20.14 at 12:04 am

With all these high salaries I see that our government is collecting lots of taxes. We are in good shape.

Sweet spot for advertisers if garth allowed would be Rolex Gucci Hermes Burberry Boss Mercedes and every brokerage on the planet. The Americas cup of blogs.

Own 2
As little as possible
Will spend 25k to maintain this year with nothing to show for it. Not including a little interest, taxes and other crazy bills. Houses always cost money.

Cost of running portfolio. $0. Still have piles of free trades. Cost of having some of the brightest most driven CEOs trying to make you wealthy. $0. Even leverage is close to free. Who says there’s no free blog/lunch.

#364 The herd is ignorant on 06.20.14 at 12:06 am

not as bad as the states, mostly T.O and Van

came for the housing advise, stay for the investing advise

#365 Winnipegger on 06.20.14 at 12:11 am

a) own
b) married -115k
c) 46
d) 20 – 25% in 3 – 5 years

#366 Snowboid on 06.20.14 at 12:11 am

(a) Rent in Okanagan, own in Arizona
(b) $ ~ 80,000 including investment income
(c) 64, both retired
(d) Okanagan still expect prices to go down 20%

#367 Vancouverbound on 06.20.14 at 12:12 am

Own-SFH-no mortgage
Live in Calgary but wish to move back to Vancouver. Will be selling in about 1.5 years. Will rent in BC.
RRSP maxed out
TFSA maxed out
Already started taking CPP
Correction in Calgary-not now.
Correction in Vancouver- was hoping but anything reasonable (relatively) sells fast. Stupid pricing takes time. Stupid realtor property takes even longer. Don’t but anything pre-2000.
Health is everything.

#368 Half Full on 06.20.14 at 12:13 am

A. Rent

B. $100,000 combined

C. 36/40

D. Status quo, unless there is a significant trigger such as interest rates rising, or quick and large cost of living increase. Hoping for the decline to finally start… And I’m not going back to owning!!!

#369 T.O. Bubble Boy on 06.20.14 at 12:15 am

(a) rent or own: rent now, owned when this blog started
(b) family income: 1%-er (but, still not high enough that we’re buyers in the Toronto bidding wars)
(c) age: 37
(d) outlook: -5% by June 2015, -10% by June 2016, -25% by June 2017

#370 Mark on 06.20.14 at 12:16 am

60-70% crash against the price of the TSX (ie: house prices go down 30%, TSX doubles to 30,000!).

Outlook for RE over the next two years — a continuation of the trend over the past year — down. The statistical mirage of a changing sales mix will be irrefutable over the next few years in the GTA and GVR.

#371 Terrier on 06.20.14 at 12:19 am

A) Rent
B) $175K (dual income)
C) 42 & 40
D) 25 – 40% correction

Banks are still chasing us and offering great deals on mortgages …

#372 CrazyCanuck on 06.20.14 at 12:23 am

a) Own
b) ~ $185,000 Combined
c) 48
d) predict Saskatchewan to be flat to +5% for another 2 years then drop 15-20%

#373 Kilt on 06.20.14 at 12:24 am

a) Rent
b) 75-100k (varies from year to year)
c) Gen Y
d) Reality – Flat for next 10 years. Rubbish numbers (HPI) will show a 3% gain over the next 1-2 years. Too much pent up demand for prices to drop. Keep in mind you are importing 250,000 people a year into Canada as permanent residents through skilled labor and investor programs. Only the places with jobs and flights to Asia will continue to benefit.


#374 T.O. Bubble Boy on 06.20.14 at 12:24 am

@ #287 [email protected] on 06.19.14 at 10:45 pm

With all the above average salaries on here would ya’ll really be worried or affected in any way with a correction?

No – my family would not be greatly impacted by a correction.

However, my wife and I don’t believe in taking on giant mortgage debt, but we believe in balance and diversification… we’re targeting to buy a house that won’t eat up more than half of our net worth, and in Toronto right now, that means we’d be buying a dump while still bidding against 5-10 other people.

So, we’re renting while we either build a net worth where a ridiculous Toronto house doesn’t kill our asset diversification and/or prices decline to where a reasonable home doesn’t cost $1M-$2M.
(or, we move out of town somewhere)

#375 TurnerNation on 06.20.14 at 12:24 am

Please refer to the Long Form Census for my deets. (It’s still around right?)

#376 Heddok on 06.20.14 at 12:25 am

a- own
b-$175k investment income (retired)
d-20% down in Victoria

#377 DON on 06.20.14 at 12:25 am

Long time reader and commenter (just not recently). Besides it is good reading, hearty debates (most of the time) and a place to learn and gather knowledge and have it vetted by anon professionals and then there is Smoking Man…who has grown on me.

Renting (On purpose). Experienced the 80’s as a teenager and saw what happened…things went sideways, first… an economic shock, Culture Club, BIG HAIR…and all Hell broke loose with the interest rates.

Family income 150K


Growth is limited, History Rythmes and chics did scars. Too bad human nature and the heard mentaility is still being manipulated. Albertans have become gods, the youth became aware is an economic boom, and the ones who should know better have once again been caught up in herd mentality and denile sets in. Don’t get me wrong lots of money to be made is you caught the right bus and were willing to get off in order to profit.

I see the perfect storm – the US will slowly inch forward in its attempt at recovery. If the US gains traction while Canadians are still gorging on debt then watch out interest rates. OR If we run out of those willing to spend a million or an OLD POS located in a trendy neighborhood, on a postal stamp. To his/her their own, but not me. For DOG’s sake you can save and buy a lot, and build a modest house before you can finish paying off your mortgage. Logic is lost, has taken a back seat to greed. Look at the loss of ethics, humility or downright corruption we are witnessing.

Commone sense is certainly not common anymore. Ebb and flow…Ebb and flow.

Lack of patience and a sense or entitlement. Well, one thing is for sure there are absolute limits at play here. The World economy isn’t exactly in great shape, Canadians banks are feeling the pressure from rating agencies and other International agencies. People making better than average wages our tapped out and wondering…

It is coming to a theater near you soooon. When exactly…isn’t it already here in some places and waiting in others. I have seen things stall both on Vancouver Island and the interior of BC.

#378 Kilt on 06.20.14 at 12:25 am

Correction – only about 170,000 of the 250 are through skilled labor and investor program. Rest are family class or refugees.


#379 Vancouver Banker on 06.20.14 at 12:26 am

a.)own 320k condo in Vancouver,mortgage 220k
b.)me 66k retail banker(yes Garth, I’m the Mutual Fund guy) her 77k mortgage adjudicator
c.)me 31 her 32
d.)next 1-2 years probably flat

Nothing really gonna happen until rates normalize and then oh boy there will be big trouble. But mortgagers will just lock in their variable rates or blend and extend their fixed to buy some time so it may take a while.

side note: Lady called in today asking for a mortgage capitalization. She is a teacher here in Vancouver and they ran out of strike pay. Their family income is $140k and have a mortgage of $850k…no savings. Their mortgage payments are $2000 every 2 weeks. Their request will probably be declined. Bankers are your friends,until they’re not.

#380 Jay on 06.20.14 at 12:32 am

“Maybe we could all find out more about each other if you could do a survey of your readers, with a few key questions. Like: (a) rent or own, (b) family income, (c) age and (d) your outlook for real estate over the next one or two years.
A) rent (haven’t ever owned)
B) 120000 (pre-tax)
C) 34
D) hoping for 10% reduction in sale price in Calgary in 2 years

#381 Robbie on 06.20.14 at 12:34 am

Hey, of course this is not a representative sample of the great unwashed nor should you expect it to be…these are the people who choose to come here and read the blog. Those that don’t may be in the local pub, watching TV all evening or reading the Toronto Star…I’m just guessing about the last, as I live on the West Coast. Consumer Reports has a very skewed demographic too…subscribers who are middle to upper class, above average education and who buy and invest using research rather than irrationality.

#382 Angela on 06.20.14 at 12:35 am

(a) rent or own: Rent
(b) family income: $102,000
(c) age: 35 and 40
(d) your outlook for real estate over the next one or two years: Not sure what it’s going to do overall. People are living on the edge though, as far as debt’s concerned. That’s all I know.

Re the incomes of the populace in this room, I don’t think it’s necessarily BS or surprising. High income earners are driving a car they can afford, living in a house they can afford, thinking real estate is crazy, yet Bob next door who works at Future Shop and his wife stays at home with four kids is driving the same car and living in the same house, makes half as much, and Mr. 200K is wondering wtf is going on and where he went wrong. That’s how we all end up here. Total and utter confusion at the state of affairs, waiting for the tide to go out.

#383 Harry Wilson on 06.20.14 at 12:36 am

re #318 cash hater

Thank you for the kind words, C.H.

Just for the record, I usually spend about an hour writing my comment in Notepad. I then spend another hour tweaking, rewriting, and proofreading, until I have it as coherent as possible. At this point, I copy and paste my comment into Outlook, which has a spell-checker, and scour it for any mistakes. If I make any changes, I repeat the process, until I’m satisfied that it is perfect. Then I copy and paste it into the comment box, hit submit, and wait for the magic moment when it appears on the site.

At this point, some evil code that Mr. Turner has written into his website changes my comment, adding a typo, grammatical error, or in this case, the boneheaded redundant phrase “a total drop of 17-30% total”.

What I can’t figure out is how he manages to change the notepad file on my computer as well.

#384 Manic Pixie on 06.20.14 at 12:36 am

a) Rent
b) $120K
c) 28, he’s 30
d) I see real estate remaining steady over the next 1-2 years. Not increasing, but not correcting yet either. When interest rates rise it’ll be slow and steady. We won’t be able to afford a house in Toronto for a few years yet, at least. Just remaining balanced and liquid in the meantime. I’m trying to talk my guy into investing his money but it’s like pulling teeth. I’ve got the higher risk tolerance; go figure.

#385 T.O. Bubble Boy on 06.20.14 at 12:40 am

Ladies and Gentlemen, your Greater Fool Income Winners… all $200k and up (and, paying taxes for the most government workers!)

#70 bedonkulous = $450k/year
#82 Oakville Owner = $270 000
#100 RodgerDoger = $250,000
#119 Millenial = $228,000
#129 Smoking Man = $250k to 7.2M
#130 MJ = 300k
#173 Daryn =$220,000
#206 Alex =280k
#214 young mom of 2 = 500k
#217 Rantanplan007 =$215k
#252 westcoaster = >$200k/yr + investment income
#254 mikek = $250k
#259 Victor V = $275,000
#280 Seven Stars and Orion =~$200K.
#300 Ttt = $230k
#301 Andrew = $250k

And – I’m assuming: Garth, Shawn Allen.

Sorry for anyone I missed… I think #119 Millenial should get a prize for earning $228,000 and living at home!!!

#386 mx420 on 06.20.14 at 12:42 am

a) Rent! 1700 (Full house with basement and fenced yard)
b) ~ 115k family + overtime (31/hr city + first year teacher)
c) 28, 28
d)25% – 30% drop over x years.. after a year or two more of small gains… (fort st john… “Better buy before the dam goes in” that is literally repeated by everyone who lives here. lol)

lots of rich people on this blog damn!!!

#387 spdude on 06.20.14 at 12:46 am

(a) own 50% of 3.6M house in York Mills + 900k detached home in Mississuaga (no mortgage) producing $3,100/month rental income.
(b) $800k from ownership of business…
(c ) 38
(d) high demand areas will remain flat while under million dollar homes will drop by 20-30%

#388 Rental on 06.20.14 at 12:48 am

a) Rent
2) family income – 50k
3) 33
4) Vancouver – 0 – 7% correction

#389 Red Deer Rob on 06.20.14 at 12:50 am

A) rent
B) 65k single & somewhat lonely/desperate
C) Age 29
D) I come here for the answers! How should I know?

My guess though is Vancouver is royaly F’D. I believe this because my generation is vastly over educated, underemployed and underpaid in that city; relative to the cost of living. And yes I lived there and I do visit regularly.

Toronto, where my family lives, is a mixed bag of real estate corrections. I don’t know much about the rich people areas but all those condos on the waterfront are investment disasters in the making.

Calgary, where I also have lived, is fueled by optimism in the energy industry. With the approval of the Northern Gateway Project and geopolitical instability in the middle eastern regions resulting in higher energy prices, this city will be buoyed by people migrating from other parts of Canada looking for work. I suspect their will be price in-elasticity on the sellers side even if interest rates rise.

#390 heyhooray on 06.20.14 at 12:53 am

Rent in Toronto-thanks to finding Garth ended up not buying a condo ( well, I kinda figured it out first and Garth confirmed my doubts :). )


100k, couple with dog

No idea. I doubt there will be a huge correction in Toronto or Vancouver.

#391 Vermithrax on 06.20.14 at 12:54 am

A) Rent, controlled since 1998 at $545/month
B) 91K Gross, single
C) 43
D) Don’t care what happens. I come here for the entertaining writing.

#392 Popeye the Sailor Man on 06.20.14 at 12:58 am

A) Mortgage of 20% of current market value; 24 years into a DB pension and have some other investments, debt free. F150, SUV, and a BH Trailer.
B) 98K, single income family.
C)Age 46, wife 44, 9 and 6
D) Edmonton area about 10% then slide another 5% over 3 more years

Use to live in Victoria area, Still fly there to work as a Marine Engineer. Victoria and South Vancouver Island drop 15% and slide another 5+%.

Can’t remember when I didn’t read this blog everyday, have told many about greater fool and have helped a few at work make better decisions about buying or not with 5% down and a 500k-600K home making around only 70K.

#393 vancouver suburb on 06.20.14 at 12:58 am

a. own home and have rentals
b. top 1% in canada
c. early 30’s
d. 10-15 correction not for a couple years

What about this wikileak about our banks in jeopardy??
it was on kevin newman tonight, write about that…

#394 Saskie88 on 06.20.14 at 1:00 am

A) Rent
B) $65,000
C) 33 years old
D) I think the housing market will go down due to unemployment rise, not interest rates. Commodity economies dependent on China will fall the hardest. China will be the source of the next recession and the economies most sensitive to China will see layoffs, spending freeze, and foreclosures. Ironically, this is when long interest rates will rise when foreigners start to notice how big CMHC really is! Short interest rates set by Bank if Canada will probably stay low for a LONG time, so higher fixed mortgage rates and similar variable rates, for people who banks will actually dare lending to after CMHC runs into trouble. Then the C$ falls hard. 33% drop nationwide in 5 years? However SK AB BC and 905 likely to suffer disproportionately. I expect the positive effect of dropping C$ may leave SW Ont flat or barely negative in house prices. 33% would be an average.

#395 catanare on 06.20.14 at 1:01 am

a) Rent
b) 140K
c) 38
d) Wish it was 30 to 50% crash to finally start thinking of buying but I think it’ll be closer to a 10% correction

#396 Dr.NickRiviera on 06.20.14 at 1:01 am

a) Rent
b) 75k (single income, wife is stay at home mom)
c) 37
d) 20% Correction by mid-2015 (in Edmonton where I live)

30% in Vancouver / 23% in Calgary / 25% in GTA / 40% in Fort McMurray

#397 Sam on 06.20.14 at 1:06 am

A) Rent
B) $150+ (For Hubby and I)
C) Early 30s
D) 15-20%, but the distribution of price declines will be extremely varied both between and within geographic areas.

#398 Michael on 06.20.14 at 1:07 am

(a) rent or own? => RENT
(b) family income => $350,000
(c) age 39
(d) your outlook for real estate over the next one or two years => dead money

#399 Bucky on 06.20.14 at 1:08 am

A. Rent
B. $140,000
C. 45
D. Up for next 18 months, then down

#400 A. B. on 06.20.14 at 1:08 am

Excellent, a chance to anonymously brag on the internet!

(a) Own
(b) ~700k
(c) 33
(d) Probably down a bit, but I have no real idea

#401 shocked in awe on 06.20.14 at 1:11 am

A. Rent
B. Married.. Daughter, 7 yrs. $275K
C. 60
D. Not buying at these prices. Don’t need a mortgage but not gonna give up investment revenue to buy a property that will surely drop in value.

#402 Longterm on 06.20.14 at 1:14 am

(a) own an acreage and building a house, huge half acre organic food garden, rented for previous 20 years but bought an sold four rental properties.

(b) varies, just moved back to Canada so $26,000 this year, $2700 last year that is not a typo], $91,000 year before, $141,000 year before. Next year, maybe $40-50,000 both of us part time and business income, which will be plenty.

Investment income of $22,000 annually and growing from portfolio. When it hits $50k all work become discretionary.

(c) 43, 43 and 3

(d) 15-25% correction over 18 months in large cities then slow grind for 8-10 years. In other areas, just a slow grind for 8-10 years like the 1990s. Where I live – Vancouver Island – the grind is already a few years old.

In the face of all you high income earners and no doubt a life planted in an office staring at a screen, I’ll add that I do shocking little conventional ‘work’ [12 hours a week] have owned and sold businesses, lived in three countries including London for a decade and travelled to 43 countries totalling over 700 days of travelling over the past 6 years. Work is a pretty low priority, living and experiences are a very high priority.

#403 Tony on 06.20.14 at 1:14 am

Re: #91 Lies on 06.19.14 at 8:02 pm

No one would believe me but most of my money is in offshore tax havens. So are all my relatives’ money. I’ll just say I haven’t achieved billionaire status yet but if America implodes completely that could change in a hurry.

#404 pipervet on 06.20.14 at 1:14 am

(a) own, (b) ~150K, (c) 52 (tomorrow) (d) flat to slightly lower

#405 Christopher Lackey on 06.20.14 at 1:15 am

Rent 100%
30 and 34 +two rugrats
The majority here seem to be pulling down six figures. Not me not even close. In alberta its one thing but it looks like people from all over. What that tells me is this blog is not reaching the audience that could most benefit from it.
As garth has pointed out many times all real estate is local. Having said that every suburbanite who thinks theyre sitting on 7 figures when median family incomes are maybe 80k in a record low interest rate environment. ..I’d say 30% not unreasonable

#406 Gainsaywhodare on 06.20.14 at 1:17 am

(a) own
(b) 275k
(c) 33 & 41
(d) 10-20%

#407 ExpatCanuck on 06.20.14 at 1:20 am

A) Rent
B) 109K
c) 34, Married
D) I don’t foresee any significant changes in the next 12 months. I expect a gradual softening starting in 2015..depends on several factors like interest rates, unemployment rates, etc.

#408 Son of Ponzi on 06.20.14 at 1:22 am

#164 Son of Ponzi on 06.19.14 at 8:57 pm
smoking man,
You’re next.

#409 Vernon Renters on 06.20.14 at 1:23 am

A) Rent
B) 190k
C) 32
D) 30%

#410 Suede on 06.20.14 at 1:25 am

a) own
b) comfortable six figures for now until I can figure out how to get more
c) 30
d) housing in Van and Toronto will be stable and increase until my wife buys a house. Then it’s all downhill

…i’ll let you guys know. Also my herdometer leading friend wants to buy stocks and ETF’s. I’ll give a heads up when he puts some cash down as the correction should happen soon after.

#411 chapter 9 on 06.20.14 at 1:25 am

A. rent(but it is free)
B.$77,000.00 been 2.5 years since I worked last been chilling out
D. Nothing goes up forever and nothing happens by accident.Major correction coming and it will be ugly

#412 koala on 06.20.14 at 1:27 am

a. Own
b. 250K
c. 38, 40
d. Don’t care

Garth, please keep your blog up forever, my kids love your pictures and I tell them to read your blog when they grow up. I don’t care about RE that much, come here for your sense of humour everyday even on weekends.

#413 Her on 06.20.14 at 1:27 am

Been reading for years and love the blog
Left Vancouver 6 years ago, thankfully!
Rent (have owned…in a more reasonable time)
Dual income 125
45 and 53
Southern Vancouver Island 30% over 3 years

#414 Suede on 06.20.14 at 1:28 am

Lot of renters on here.

What happens if houses shoot up because capital shifts from Europe or Asia to North America? You have no skin in the game.

Same thing with equities, ETF’s, bonds, REIT’s etc.. If they shoot up are you equipped with them to ride the wave?

What about cash? Emergency fund? HA…more like the attack capital fund to buy assets when people are hitting the panic button.

Shit my wife caught me reading this blog again. She’s starting to get skeptical

#415 Tony on 06.20.14 at 1:29 am

Re: #11 AK on 06.19.14 at 7:04 pm

Are you willing to take the lie detector test? Now is that 18 grand a year? Through all the years of reading comments and replies I come up with two names for the hook, line and sinker award. That would be you AK and Shawn. Four sheets to the wind.

#416 Janet on 06.20.14 at 1:29 am

a) own, live in Russia
b) 20K (gross, 18K net) household
c) 36+4 y.o.
d) 15% in Canada I guess, according to data provided by Garth

#417 drbrain8 on 06.20.14 at 1:31 am

I am reminded of the saying:
“You can’t be rich, you work too much”
That is why the late Steve Jobs’ salary was 1$ per year.

#418 Cat in Calgary on 06.20.14 at 1:35 am

Regarding the incomes posted here, I too was originally shocked at some of the numbers but the type of people who would read Garth’s erudite blog would typically be more financially literate, more likely to invest, more educated and therefore, better compensated.

There’s probably others like myself with our own businesses (I work as a contractor, which is fairly common here in Alberta) – I stated my net business income rather than my salary (keeping the taxes down).

If other people are adding a second income (if you’re inclined to have a partner), investment income, rental income etc., it doesn’t take long for the amounts to accumulate.

#419 1% Doomer on 06.20.14 at 1:35 am

A) Rent AND Own
B) ~200k
C) 40ish
D) 10 – 20% correction in the next 1-2 years, 30-50% in the next 5.

#420 noise on 06.20.14 at 1:38 am

A. Own
B. 250K
C. 40,37,10,6
D. 20% correction – eventually

#421 sierts on 06.20.14 at 1:39 am

(a) built my own
(b) in $can about 60,000
(c) 62
(d) sssssssssssss…. splash! – the question is when.
i live in southamerica, am self employed, debt free since about 3 months ago, kids university education is prepaid, got enough shares in ranches to feed wife and me for about 15 years – and i read this blog and other northern info, to get a headstart, when (not if) nortern economic crash will drag down third world countries.

#422 Son of Ponzi on 06.20.14 at 1:39 am

This is about the funniest, craziest, outrageous, hilarious post, ever.period.
Narcissism as it’s best.

#423 scottiestein on 06.20.14 at 1:39 am


male, 29,

room renter, :|

Sheet metal apprentice 2nd year 65% of jouyrnay man rate, approx.45k base anuall income,

About 8k cash or stock split between TFSA and normal trading acount also 3k cash savings.

Realistate prices are crazy over valued from where Im standing.

Unaffordable to rent my own space in this crazy narsassistic town.( YYC is not all bad many people of conscience here too)

I think it best for me not to speculate on realestates so I stay clear of it.

Even a broken clock is right twice a day.

#424 betamax on 06.20.14 at 1:41 am

(a) rent
(b) family $165k
(c) 51
(d) stagnation then eventual crash. Who knows when.

#425 Terracite on 06.20.14 at 1:41 am

Dinks 170k
10% melt with no external shock, 40% if SHTF. The bond market will eventually move, and will be completely out of Canadas control

#426 Island Couple on 06.20.14 at 1:42 am

a) Rent $2150/month in Victoria
b) ~$400-500k Combined Income, Married
c) 31 and 32
d) Slow continual decline nationwide over the next 5 years of ~30% total. We are very happy to rent and build liquid wealth while keeping our living situation flexible. Will perhaps reassess buying in ~ 5 years.

#427 Arcs55 on 06.20.14 at 1:44 am

A) rent!
B) $170,000 (thank goodness for a smart girlfriend)
C) 34
D) expecting a correction of around 30% over 5 years starting end of 2015/2016.

The blog changed my financial outlook. Hoping to retire by 55 and live where it doesn’t snow…. Ever. Thanks Garth!

#428 Un-Retired on 06.20.14 at 1:46 am

Rent in Victoria
15% correction in next 2 years

Thanks, Garth for all the insights and perspective. Don’t always agree but always interesting.

#429 long time reader on 06.20.14 at 1:46 am

To #104 lies

I will take your comment as a compliment. So, I take it you won’t be at any future occupy protest as you don’t believe those people actually exist. And no, I’m not in the 1%…in fact I don’t even make Garth’s rule of 90.

#430 Lynn on 06.20.14 at 1:47 am

So, based on the incomes, looks like most blog dogs are lawyers and doctors here.

#431 BananaBoat on 06.20.14 at 1:47 am

30% broad base decline, with pockets of 50% decline in Vancouver area.

#432 Toronto cat on 06.20.14 at 1:48 am

a) own (bought in 1998, paid off the mortgage in 2013)
b) 350K+ combined
c) 46 and 45 + 21 year old daughter who agreed to keep living at home until she graduates and starts earning enough to live on her own (5 more years if she makes it to the medical school… ) Will help her with the downpaiment when she’s ready :)
d) hoping for the correction in 5 years, but don’t expect any changes until the interest rates go up. Saw this headline today:

Tide is turning in Canadians’ big debt runup 1:04 PM 06/19 TSX-I 0.02%

Not Unlimited Globe and Mail subscriber, so couldn’t read the article – but from what I gather national house debt is not that bad as you’d like your readers to believe :)

I like how you write – and thank you for getting me interested in stocks (by repeating that “regular folks” shouldnt be buying individual stocks – so that’s exactly what I’m doing lol) Now I’m a regular on investment forums – and post a link to your blog occasionally. I do believe that real estate is a bad investment idea for most people – but hopefully will never have to go back to renting myself as owning is priceless :)

#433 long time reader on 06.20.14 at 1:48 am

Ok…I actually do make the rule of 90…but barely!

#434 Fortune500 on 06.20.14 at 1:52 am

A) Rent (live outside of Canada)
B) $220,000 (household)
C) 33 married
B) 30-40% correction with regional variation

#435 Oceanside on 06.20.14 at 1:52 am

1) Rent, sold one today slowly looking for another (cash)
2) Around $100K
3) 63
4) 30% for larger, overpriced centres, 20 elsewhere

#436 William Bell on 06.20.14 at 1:54 am

– Rent (YEG)

– $40,000, $30,000

– 32yrs , 32yrs

– RE continue edges higher ( 24 months guess, depending source of info )

#437 Tuggy Boy on 06.20.14 at 1:54 am

First time poster, in the 1% but since you ask:
A: Own 100% (in Hamilton, ON)
B: ~120K
C: 35
D: Should crash but you cannot predict the masses especially in the GTA.

#438 PowerSerge on 06.20.14 at 2:02 am

A) own
B) 125k-145k
C) single 27
D) it will go up by 5-10% (due to ultra low rates) over the next yr or two (depending on the area), then a quick 5-10% quick correction, then a slow multi-yr correction of another 10%
*TFSA almost to full capacity( should be full by the end of the year) (balanced 6 etf portfolio) , small rrsp fund, defined corporate pension plan (8yrs on, 22 yrs to go).
** I don’t foresee my pension plan staying the way it is, each contract negotiation my contributions get increased and my employer’s decrease. Perhaps some day it will cease to exist (since most pension plans are underfunded) and I’ll have to manage my own rrsp plan, but I’m ready for that.
Also I binge read your blog (3-6 posts at the time)
Thanks for everything you do. Awesome blog, I can’t even explain how much i have learned from you, and how much I have been able to learn on my own thanks to the great base knowledge you have provided.

#439 Non-Cowboy on 06.20.14 at 2:06 am

Rent in North Vancouver. No plans to purchase real estate.


51 years old

No prediction. I come here for the witty writing and columns on non-cowboy balanced portfolios.

#440 Son of Ponzi on 06.20.14 at 2:06 am

Still waiting for Cramdown, Shawn, Devore and Mark.

#441 Jon B on 06.20.14 at 2:07 am

I’m now certain that not even a slight correction in real estate prices is possible. Just look at the number of blog dogs holed up in rented basements pulling in six figures! I’d liken this potential pent up demand for RE ownership to the molten magma beneath Yellowstone.

#442 TomOfMilton on 06.20.14 at 2:16 am

A) rent (sold house and invested)
B) 85k single income +investments no debt
C) 43 yo as is wife
D) I stopped caring…except when I have a chance to give an alternate view to someone tempted to buy in this market. Not a zealot but not quiet about it either unless they already bought. Then it is just raining on their parade.

#443 Son of Ponzi on 06.20.14 at 2:21 am

If Jim Pattison would read this blog, that would be his response:
1. own all of B.C.
2. 1 billion a year, I have already 6 billion, but why stop now.
3. 80 years. Playing the trumpet kept me young.
4. Boom or bust, people have to eat.

#444 vanrenter on 06.20.14 at 2:24 am

A. Rent
B. $160K
C. Both late thirties
D. 25-30% drop over 3 years. Canadian homes are extremely overvalued compared to the rest of the world. Our economy isn’t nearly as strong nor diverse as Harper and his crew would have us believe; therefore there will be tough times ahead job-wise. CMHC represents huge moral hazard and has been stoking price growth. Central bankers have been colluding to keep rates unsustainably low causing unprecedented personal debt levels. The combination of these factors and the shift towards equilibrium will lead to a tipping point in the real estate market witin the next year to year and a half, starting with T.O., Van and Calgary.

#445 LJ on 06.20.14 at 2:30 am

(a) rent
(b) approx $100 G combined
(c) 43 and 44
(d) no idea – people have been crazy thus far, who’s to say it will stop anytime soon? but I think real estate is overvalued by at least 30%

#446 Tyler Gibson on 06.20.14 at 2:30 am

A) Rent Vancouver
B) 150k single
C) 32
D) decrease of 20% as soon as interest rates get near 6% in two year estimated time

#447 GARTH IS "TOO BIG TO FAIL" on 06.20.14 at 2:32 am

Garth is “Too Big to Fail”.
So we Blog Dogs passed the hat around and are going to saddle you with a Shadow Cardiac team, A Health Nut Chef, and a Constant Ambulance tail wherever you go!
We just can’t afford to lose you!
Even the president will be jealous!
And were going to mail H a pie full of artery clogging fat.

#448 Frustrated Kiwi on 06.20.14 at 2:36 am

Cool to see all those other kiwi readers
A. Own but follow Garth’s rule of 90 plus was convinced by this blog and others that sitting out our correction would take 5+ years
B. 250k+
C. Gen X
D. In NZ little movement over next 2 years (+/- 5%). Eventual 50% correction in real terms over 20-30 years.

#449 GUnit on 06.20.14 at 2:37 am

(a) rest
(c) 33
(d) 20% decline over 5 years

#450 HD on 06.20.14 at 2:39 am

#215 Cici on 06.19.14 at 9:38 pm

#40 HD

Wicked awesome performance. Sure beats sitting in a chair doing drone office work for 40 hours per week.

How many hours do you have to train per day/week to stay that agile?


Thanks ;)

I don’t really breakdance anymore but I still have some left in me. Just put some music on and I am down :)

I am a naturally fit guy….mainly what I do is jogging/spinning 4-5 times a week. Gym once in a while.



#451 Scab from sheho on 06.20.14 at 2:49 am

A) own
B) 160,000
C) 35
D) steady to drop 5%

#452 juno on 06.20.14 at 2:52 am

presently renting
Can buy with straight cash transaction: but not this desperate to decimate a lifetime of savings to go broke.
In a couple of year, we can start looking for retirement homes in a location that allows us to buy and have interest bearing into our retirement
+ government Pension somewhere around 50K to 85K per year (when I hit 55)
50 and 45yr – marriage 1 kid,
total salary 190K
Plus Interest bearing and stock gained, 92K

Owned 1 houses _+ 1 townhouse and sold in 2008 and 2010. Had no mortgage, owned 100% on both units.
(owned a total of 7 houses in my lifetime bought first two houses in 1986)
Was a landlord for 3 houses (wouldn’t do it again, too much hassle for so little)

Total assets 2.75 Million
25% interest bearing (including GICS)
35% dividend bearing
25% preferred shared and low risk shares
15% medium risk

Would like to get back in, but know its going be at least 3 years before the correction will take full effect. Not desperate, no problems with renting.

#453 Andrew on 06.20.14 at 2:52 am

a) rent, 2 bed 2 bath 670 sq ft downtown vancouver $1500/mo
b) $106,000
c) 28
d) not so worried about RE at decent locations, though strata’s may have issues re: depreciation or at least lack of appreciation (treading water in values). more worried about the huge stock of ‘meh’ homes in suburbs around Canada over the next 10 years. they are the collective retirement plans of an entire generation and I have no idea who is going to buy them. I’m pretty successful for my age and I can’t afford them (nor do I want them), so how is that going to work out? disastrously would be my guess. in the next two years the outlook depends very much on CMHC action, central bank action on interest rates, etc. so it’s just a crapshoot. the mid- and long-term view is decidedly ominous but the party could keep turning over for awhile yet. hard to say.

#454 Questions on 06.20.14 at 2:56 am

“..find more about each other…”

I dare anyone to top that for the pithy and significant phrase of our decade.

#455 Bus driver and a baker on 06.20.14 at 2:58 am

a- Rent, East Vancouver
b- 95K household, married, one kid, more to come
c- early 30s
d- a 30% drop seems logical to bring it back on par with salaries. That is if interest rates ever go up, though Japan has kept its rates low since the 90s. The US seem to love playing politics with the economy, so who knows what the hell they’ll do with it.

Love the blog, Garth. It helps keep my wife’s house horniness to reasonable levels. Keep up the good work.

#456 Bailing in BC on 06.20.14 at 3:04 am

I don’t post often, but I have read every single blog post on this site – EVERY ONE – SINCE DAY ONE. (I don’t read all the comments-that would be madness.)

1.) Rent. Sold investment property in 2008 and paid off house in 2010
2.) 120K family income plus investment income (30K?)
4.) 15% down more in Vancouver and GTA

Thanks Garth

#457 anonymous on 06.20.14 at 3:18 am

1. 150k personal income.
2. 65 years old.
3. Don’t want to predict housing prices.
My vision of the future 10 years hence:
doubling of real estate taxes
doubling of utility bills
doubling of B.C. Hydro bill
gas at $2.00 a litre
increase in B.C. carbon tax
increase in B.C. and federal income taxes
increase in house insurance, auto insurance, and natural gas bill.
new mobility tax in B.C., that is tolls on every bridge in the lower mainland plus tolls for driving on selected roadways.
five to ten percent a year increase in food bills
How does the average person keep pace? One of my last investments was UL. They have a stellar record of uncreasing dividends by 8 percent a year compounded since 1979. But 8 percent a year in pre-tax income does not cover my 7 percent a year increase in property taxes over the last nine years, paid out of after tax income!
Prediction: Canada lifestyle slowly sinks to a level lower than many 3rd world countries.

#458 cynically on 06.20.14 at 3:21 am

#145 — Garth is right about the expression “boots on the ground.” Obama is sending two very small contingents (both under 400), one to beef up the guard at the embassy and the other to train troops in the Baghdad area in the defence of the city. Neither of these groups is over there to mount an offence against the Sunnis. Boots on the ground implies many more men, perhaps a division or more and ready to do battle.

#459 crazed and a little confused on 06.20.14 at 3:34 am

my 2 bits
b) $53 k plus $3- $7k in dividends/ capital gain since 2006 …loss money in 2011. i guess im the poorer bunch
c) 43
d) condo / t/h 15 a% down , the inventory is high in van/ burnaby/ new west …house stable

#460 Sara on 06.20.14 at 4:09 am

*Vancouver residents
*Rent big one bedroom apt on west side for $1090 (low rent as older buiding, three story walkup)
*Married couple, 48 and 45 – late start to careers as spent many years travelling, then did advanced degrees. Due to delay getting our act together, net worth is only $110,000 (follow Couch Potato Portfolio) but are saving half net monthly income now so hope to build it faster.
*Zero debt (best stress reducer there is)
*Combined annual income $130,000
*We have completely given up hope ever buying anything in Vancouver. We truly believe it will never crash, at least not in our lifetime.
*We have accepted our renter lifestyle and make the best out of it by painting and decorating the apt our way, enjoying being debt free and going on annual vacations etc. The best part is the worry-free lifestyle. Never worrying about bills and saving a nice chunk of money every month – that is priceless.

#461 john on 06.20.14 at 4:15 am

1. own
2. 150k personal income.
3. 65 years old.
4. Residential house prices are based on the managed low interest rates introduced after the GFC. If and when interest rates and mortgage rates increase residential house prices will correct.
My vision of the future 10 years hence.
doubling of real estate taxes
doubling of utility bills
doubling of B.C. Hydro bill
gas at $2.00 a litre
increase in B.C. carbon tax
increase in B.C. and federal income taxes
increase in house insurance, auto insurance, and natural gas bill.
new mobility tax in B.C., that is tolls on every bridge in the lower mainland plus tolls for driving on selected roadways.
How does the average person keep pace? One of my last investments was UL. They have a stellar record of increasing dividends by 8 percent a year compounded since 1979. But 8 percent a year in pre-tax income does not cover 7 percent a year increase in property taxes paid out of after tax income!
Prediction; Canadian lifestyles slowly sink to a level lower than many 3rd world countries.

#462 Another Joe on 06.20.14 at 4:18 am

A) I have a mansion, forget the price
B) I live in hotels tear out the walls. I have an accountant, pays for it all
C) I’ve drank so much (along with the drugs) I just don’t know
D) On one hand I hope it’s large because that’s what we need.
If that happens it hurts way to many with mouths they must feed.
On the other hand a great big huge crash would make sure us rich guys could make some more cash.
So if you have bought somewhat recently.
And do not have to much equity.
The best thing you could do is to sell.
Cause later on if you don’t your life will be hell.
Garth has given you great advice to get freed.
If you don’t take you smoke to much weed.
I could go on but I guess I should stop.
With prices this high they just have to drop.
Life ain’t been so great for me you see.
Things happen that you don’t foresee.
When they do I guarantee.
Your money can run out in a hurry.

dadada dadadaaa! (with a slide)

#463 dusty expat on 06.20.14 at 4:30 am

a) Owned but sold.
b)enough, all offshore tax free
c)40’s gen X’r
d)large decline +25% by 2018…property taxes the kicker

I have read this blog on beaches around the world, gogo bar stools in SE Asia, trains thru Europe, hookah cafes in the Middle East. It is my last link to Canada. It helped my parents to sell at the top and cash out.

I rarely comment

#464 Vis on 06.20.14 at 4:39 am

I’ll play.

(a) Rent, mostly likely for the next 5-10 years. Will probably drop a 50% downpayment when/if I do decide to buy and pay it off within 5 years. Or just keep renting. Either way, plan to retire in 15-20 years.
(b) Single; 90k
(c) 28
(d) Small increase in interest rates, slight decrease in house prices, not enough to make a difference to the so-called house hornies yet. But hopeful for a 10-15% correction within 10 years.

#465 ferryworker on 06.20.14 at 4:43 am

a) rent
b) 55K
C) 43
D) “no work to do houses” in demand, tiny pockets of irrational bidding in certain areas, most others sit for months get expire and relisted to keep frankenumber looking good, condo market = toast.

2010 landlord offered to sell me my waterfront rental for 232K, same exact unit (waterfront) directly below me sold this winter for 140K, what’s that in percentages?

#466 VanLarry on 06.20.14 at 4:54 am

(a) own
(b) 40k (single)
(c) 30s
(d) correction, slow correction

#467 dave c on 06.20.14 at 5:28 am

-Own outright in Fraser Valley
-~100k household
-flat to down 15%

Sidenote: wow! some high household incomes around – I feel poor now when before I thought we were doing ok…

#468 Troy on 06.20.14 at 5:38 am

4-long, slow pullback, like early 90’s

#469 Jason on 06.20.14 at 6:03 am

A. Own mortgage free

B. Approximately 200K

C. 42

D. Markets are local some will gain, some will lose.

#470 Nemesis on 06.20.14 at 6:04 am

#BreakfastLaughsForSaltyDogz. #Seriously,YouCan’tMakeThisS**tUp.

[WaPo] – CIA hatched plan to make demon toy to counter bin Laden


[UKIndependent] – Barbie means business as Mattel launches ‘entrepreneur’ doll


[NoteToGT: Just between the two of us, if TheCompany was seriously interested in besmirching binLaden’s reputation/legacy… all they had to do was have him stand-in for Ken.]

#471 payUrTaxes on 06.20.14 at 6:06 am

(a) I couch/bed surf from friend to friend. Basically homeless, but been on the same couch/bed for quite some time.

(b) family income
0$, but have enough saved up to cover expenses for …quite some time. Pursuing some possibly fruitful projects but nothing’s catching so far.

(c) age

(d) your outlook for real estate over the next one or two years.

Might be corrections of one sort or another in some areas of the country but as a whole it will track inflation, on whole, and perhaps a little more.

#472 Mishuko on 06.20.14 at 6:07 am

A) staking out in the moldy parts of the life enablers.
D)2 yrs between -5% to 10% of current prices, 3-7 decline of peak prices 20-45%.
E) no net debt.

#473 Kyla on 06.20.14 at 6:14 am

A) Own. Bought in YYT in 2006. (Garth, what’s your opinion of Newfoundland’s real estate situation? I don’t know that I’ve ever seen it mentioned here.)
b) About 120-130 k (DINK)
c) 36
d) I honestly have no idea.

#474 Financial Freedom at 40 on 06.20.14 at 6:24 am

The most engaged your audience has ever been? Almost miss the “sniping and bitching”

a) Rent Hogtown condo on subway line to work /near best schools. Share ownership of a family legacy rec property for space to run and air to breathe. Owned 1998-2012 (RIP) ‘living’ paycheque to paycheque.
b) >$100K salary + same again for spouse + same again from diversified portfolio if it makes just 4% (planner targets at least 7 as conservative)
c) 2 GenX’ers (who used to be bitter but now feel like the only sane ones in almost every room)
d) Can’t predict the future. Have tested various scenarios and feel well prepared to ride the peaks and weather the valleys.

So have you attracted the readers you hoped to reach, or are you preaching to the choir of the already converted? Google Analytics will give you data, but what is the goal?

#475 dave c on 06.20.14 at 6:26 am

overloaded the server?? comments have started duplicating….

#476 Carly on 06.20.14 at 6:29 am

A) Rent
B) $95000
D) Reside in Calgary, a small correction is likely, but it will not matter to me as I abhor carrying debt! Waiting for rental prices to drop…
Love reading the blog, helps me feel a little less crazy for thinking everyone else is crazy for having insane amounts of mortgages and consumer debt.

#477 Sparky on 06.20.14 at 6:43 am

45 (married kids single income)
No idea any more, should be a correction!

Sold house 6 yrs ago, (too soon), renting and saving money, living below means, renting a 28 acre property with creek and pond full of bass on outer edge of gta for less than a $200k mortgage. Owner is heavily subsidizing this place, he owns too much property.

#478 Dude Duderson on 06.20.14 at 6:48 am

A) Own
B) 120k
c) 26 married
d) 15-20 percent correction in my 20 000 person town in Eastern Ontario, slightly bigger in GTA, Vancouver.. who knows that whole place is a mess.

#479 NLer on 06.20.14 at 6:49 am

a) Own. Mortgage will be paid off in full mid next year.
b) $220K last year
c) 42
d) Significantly down.

#480 robert turpin on 06.20.14 at 6:49 am

A. rent 500$ mth in ahuntsic district of montreal for 3 1/2

B. 55,000$ with 0 debt

C. 64 and 68 yrs

D. relative to income and debt levels this is a bubble…it will pop.

I visit your blog every day and enjoy it a lot.Thank you Garth for helping us understand our financial lives.This blog is a great public service.


#481 ChrisK on 06.20.14 at 6:51 am

A) Own in GTA
B) 105K family income
C) 38
D) GTA – small correction (5%-10%), stagnation

#482 BobC on 06.20.14 at 6:55 am

1. Own/pd for
2. $325k
3. 65
4. Ca -20%, US + .02%

#483 visorman30 on 06.20.14 at 6:55 am

a) Rent
b) 180,000
c) 31
d) in Toronto – 10% average decrease (condo > 20%)
suburbs > 15% decrease

#484 Stephen (not Harper) on 06.20.14 at 6:59 am

I’ve been quickly browsing through the comments, and have concluded that your blog readership consists of either (a) most of the higher income people in Canada, or (b) most of the liars in Canada.

#485 TimV on 06.20.14 at 7:09 am

#104 Lies — $350k “business + investment” income to-date in 2014 is plausible given $1m invested assets. It’s a bit high, but my investments did poorly and it was still a 10% year-to-date. So $350k is plausible, I think.

The one at $900k + $90k investment income sounded a bit like a typo. At $900k annual income, why would you care about condo prices next year?

#381 Robbie — Consumer Reports hardly cators to those who make rational educated decisions. My opinion, having been very disappointed every time I refer to them.

#486 Stickler on 06.20.14 at 7:10 am

What a wealthy group of blog readers!

According to statscan:
median family income in Canada is $76,000
— generally higher in the West than the East
— while the median individual income is just $27,600.

That means just as many individuals earn less than $27,600 as earn more. The richest 10 per cent of individuals are making more than $80,400.

#487 T. Dog on 06.20.14 at 7:10 am

Rent. 53yrs 75,000 20%. 1st time …….this is fun.

#488 floydfan on 06.20.14 at 7:11 am

60, 59
don’t care
Wish you were still our MP

#489 Stickler on 06.20.14 at 7:15 am

…or a lot of households with 2 government workers in them ;)

#490 CJ on 06.20.14 at 7:29 am

(a) rent (less than 1/3 of take-home pay)

(b) single income, grossing ~$60k/year (feds, DB pension, saving more than 1/3 of take home pay using couch potato portfolio of low-cost index funds)

(c) almost 39 years old

(d) real-estate outlook: “dim” but would consider buying on a massive housing slump *if it made financial sense versus renting*

Garth: someone could perhaps set you up with a “Survey Monkey” survey (or similar) to parse the type of data above automatically.

Keep fighting the good fight.

#491 Sean on 06.20.14 at 7:33 am

a) own
b) $200k and up, depending on markets
c) 42
d) when it hits it will be close to 50%, but I have lost all confidence on timing, as this thing is already so long in the tooth

#492 James kitchener on 06.20.14 at 7:33 am

Own house Kitchener mortgage free
$100,000 to $120,000
53 and 57
A few years ago you asked for my prediction and I was shot down. Back then I said housing will continue to rise and we were not at the top and most people are in denial about housing. And it would start to decline in a few years 20 to 30%. I am updating to a few more years before any decline maybe spring 2017,

When interest rates go back to normal levels 5 to 6% mortgage rates then housing will ease. 20 to 30% flat for a few years after that
I worry about total debt levels but that’s irrelevant unless unemployment kicks over 10 to 15%
I do not worry about the boomer selling spree I disagree with Garth idea this will trigger a tipping point.
They will live rent free in their houses till they die.
Immigration is $250,000 a year they need to live somewhere
Still lots of wild cards in the world economy, to hard to call, but I would say in 10 years we will all be better off than today
As in every past housing decline in the long run housing goes up it might take 10 15 years but it will go back up
Is that not what happened in the States?
Garth has been predicting a major decline for years and eventually he will be right. Bottom line you cannot predict the future, it happens when the lemmings decide

#493 b on 06.20.14 at 7:38 am

A) Renting, likely for the next 5 years. Building up a down payment in the event that sanity prevails, but investing it in diversified low cost ETFs in the meantime.
B) Married, combined income $150k.
C) late twenties
D) In next 3 years, sales will slow, inventory will rise, but prices will be sticky. After that is anybody’s guess, but hopefully there is a decent correction of up to 20% to give young people a bit of financial breathing room.

#494 blogoutside gta on 06.20.14 at 7:38 am

85000 my income after business expenses. Wife stay at home mom. Formerly earned 40000
Age 37 and 29
Prices flat for two yrs… then a decline 25 percent over over 3yrs..

#495 Jake on 06.20.14 at 7:41 am

Own 47% of my house
$80K (typically $140K, recent job loss with new one starting 2 months)
London ON, Bullish, drop of ~20% over next 5 years

#496 Sean on 06.20.14 at 7:43 am

Allowing for a sizable self-report bias (i.e. people lying about their income).. it still looks like you have hit on a very desirable demographic here Garth. You should be advertising your own services more aggressively, as well as running sidebar ads for Rolexes, sailboats… and, ummm, luxury real estate… lol.

#497 armpit on 06.20.14 at 7:44 am

What’s this?

Is there a Blog day sweeps happening?

or are you a mini big brother collecting stats….

#498 TurnerNation on 06.20.14 at 7:44 am


“The blog has no place in the bedrooms of this nation”.

#499 This is fun on 06.20.14 at 7:44 am

1. Own primary and three rentals
2. $140K employment plus $18K net rental income
3. In our 40-ies
4. Highly depends on the area. In demand pockets will continue doing well, the rest will stay flat at best or continue slow decline. Don’t see major correction. Demand shift between housing type is likely too as boomers and echos are moving along their life cycle.

#500 Slow and steady on 06.20.14 at 7:45 am

A) own, 0% mortgage
B) $150k – $190k, full benefits, stock match from company 6%, DB with additional 7.5% contribution
C) 39
D) think GTA is going to hold because of ongoing immigration numbers

#501 small steps on 06.20.14 at 7:47 am

(a) rent in Calgary
(b) family income 201 base with about 15 bonuses
(c) mid thirties
(d) the real estate party could go on for some time yet – so I see no correction in the next 2 years unfortunatly

#502 Debt Collector on 06.20.14 at 7:48 am

Wow, some big incomes here. Very impressive.

a) own mortgage-free (but only 150K home)
b) 50/K per year total for wife and I in working income; roughly 15K/year in investment income (have roughly 300K in investments outside of our home)
c) both about 50
d) drop 30%-40% in big cities, 10-20% everywhere else but timeline isn’t necessarily 1-2 years could be longer

#503 save. spend. splurge. on 06.20.14 at 7:54 am

a) Renting
b) Variable. Could be up to $250K/year but on average so far, $70K (working half my career); Not including husband
c) 31
d) 20% — pipe dream, so I can buy something

#504 Yorkie-UK on 06.20.14 at 7:58 am

Hello from the UK, been reading the blog almost every day for a couple of years now.
My take on things? Garth is right, Smoking Man is funny and the pictures are great, especially the flying cat one last week.

We visit Canada a couple of times a year, Vancouver and the Island during summer, Whistler in winter. Owned a 2 bed rental condo in Coquitlam and a 3 bedroom ‘shed’ in the Peg! Purchased 04 when the £/$ was at 2.4, sold up in 09 when it was 1.8. We made more money on the exchange rate than we did on both places combined. On paper it looked like we would make a lot, but everyone wants a slice of the pie. After taxes, insurance, CMHC, Strata, buying fees, selling fees, Notaries and interest payments what looked like an easy $100K+ very quickly became <$20K for a lot of hard work.
I’ll stick to whisky and strippers in future!

(a) Rent or own: Rent, in the UK (sold up in UK a couple of years ago)
(b) Family income: Combined take home pay is ~£80K ($ 150K)
(c) Age: Me 46, Her 45. Dual income, no kids, no mortgage, no debt, expensive wife!
(d) Your outlook for real estate over the next one or two years: Bumpy, both the UK and Canada

Keep up the good work.

#505 Lawboy on 06.20.14 at 8:01 am

1. Own
4. 35% drop over fifteen years

#506 Innumeracy Chick No More on 06.20.14 at 8:04 am

1. Own
2. $240,000
3. 43
4. Live in GTA Slow correction over 5 years 10-20%
5. 2 years left on mortgage

#507 Old Renter on 06.20.14 at 8:05 am

A) own
B) $175 family
C) 39 and 35
D) 10% in canada in the next 1.5 years, 20 to 30% in gta/toronto and gva/van in next 1.5. After that flat for next 5 years

#508 Ottawa Follower on 06.20.14 at 8:06 am

As a rule I never give out my information to help pad stats and marketing plans for free but in this case, Because of all the FREE DAILY help you provide us with, Garth, It’s all yours.

A) I sold my house in Feb 2014 and now Rent (I have my wife convinced to rent for at least the next 5 years) – Thanks Garth – A voice of reason.

B) Family income is ~$175K

C) Ages 41 and 35 (Weeknight follower)

D) Hopefully a %20-30 correction in Ottawa (I seem to be alone in my thinking)

Great Blog Garth – Thank you and keep up the good work.

Hey STICKLER #486 and #489 (And others) – To scared to give your own stats – You can only comment on others who have. Now that a Typical STAT.

PS – Have a Great Day!

#509 benj list on 06.20.14 at 8:07 am

a) own
b) 120k (I feel inadequate to the others ;P , then again it’s more about savings)
c) 37
d) for ottawa, I think (80% 19 times out of 20) that we will move sideways for quite a while, we may dip a few percentage points, but most of the loss will be in real terms rather than nominal. At least until price to income and rents is more normalized.

#510 Crossbordershopper on 06.20.14 at 8:07 am

1) I own, like really people you cant own one lousy poorly constructed shack in Canada. Like 1, not 10, just one. I dont understand why people in Canada dont own at least one. You have been here 4 generations and your mother or grandmother never gave you the keys to a place. The immigrants have a completely different mentality and are skewing the numbers(east indians,chinese, eastern europe) home ownership will be 80% in Canada and just under singapore(90% plus). by 2025.
2) In Canada there is the official income and the non official income. As long as you have enough to pay the bills thats all that matters and thats all that I make officially.
3) SFH is what everyone only talks about so, they will rise with the cost of living. Farm Land pricing(yes very important) which have risen quite a bit will stabilize, Cottages which are overpriced will come down a bit. I still dont know why people in southern ontario drive 3 hours south instead of north and see a lake and build a shack at 15 cents on the canadian dollar. and my personal favourite funeral death plots. (yes everyone owns real estate in the end people). is rising so get your piece of the Canadian dirt before you need it. Or you can be buried in the US, much cheaper, dont worry no one will come visit you after the first 10 years of your death.
3) Married, one child

#511 elmsley on 06.20.14 at 8:09 am

1. Own
2. You sure you’re not trying to push credit cards?
3. 30+
4. Stagnant

Appreciate that you’re not selling out to the ads, keep up the good work!

#512 jim inVancouver on 06.20.14 at 8:22 am

Owned two homes in Vancouver, sold the rental in 2008. Overall the total costs of owning the rental was beginning to exceed the return. My experience has been rental homes self destruct within 10 years no matter how good the tenant. I now have one house, zero debt, except for; insurance, taxes, utilities, then there are updates and repairs. Costs I have found can become huge. It is very difficult to find qualified workers for small jobs. In Vancouver small job means under $100,000.
INCOME under $50,000. Cash on hand $750,000. Investments, face amount about $1,000,000 but until it is turned into cash, I know I’m only dreaming.
AGE me 68 she 65
OUTLOOK I have been so wrong since my 2008 house sale. That property appreciated from $900,000 in 2008 to say $1,400,000 – $1,500,000 now. But it has cost that couple at least $1,300,000 and possible much more.
I have noticed demand in our area (33rd & Main) is a strong, but so many of our long time neighbours have openly stated that they have had to, or chosen to sell for something more affordable. I see money problems around me that can destroy a family. Overall I am negative on Vancouver real-estate. I am too old to risk what I now have on property values I cannot understand.

Those high incomes I see above, all I can say is Wow. Buy in my neighbourhood.

#513 Sauga saga on 06.20.14 at 8:23 am

a) In the process of buying in GTA
d)Some correction. Would be happy if I get the price paid and interest on mortgage paid when in sell in 15 years time. i.e Not expecting any appreciation

#514 FanofGarth on 06.20.14 at 8:24 am

A) Own Primary in GTA . One rental in Windsor.
B)245,000 family
C)33/34 (2 kids)
D)20-25% across the board. 905 area up to30%. bottoms out around 2020.

Garth could you give us a breakdown of areas in this country that will probably come out unscathed? I’m particularly interested in Ontario markets. What’s the outlook in places like Hamilton, London, Windsor, Kit-Waterloo?

#515 Brunswick on 06.20.14 at 8:25 am

a) Rent
b) $140,000 (single income)
c) 28 years old
d) No idea anymore – Sudbury is delusional… I’m loosing hope and think I should have bought 5 years ago.

#516 joblo on 06.20.14 at 8:30 am

(a) own
(b) draining the RRSP
(c) to young to retire to old to hire
(d) fire up the bulldozers

#517 poll on 06.20.14 at 8:31 am

87k (single)

#518 Old Man on 06.20.14 at 8:34 am

I am making a list of all the single women with money and assets so will know who to compliment. Yep, am no fool and will be extra nice to them all. :)

#519 lala on 06.20.14 at 8:35 am

A. Rent residential, own commercial
B. 44, wife 29 (4 kids)
C. 5% drop a year for 5 years
D. Income $250 combined.

#520 Longformcensusisback on 06.20.14 at 8:37 am

(a) Rent or own
Rent. I’ve lived in St John’s, Halifax, Vancouver and Ottawa in the last 10 years, always moving for work, always moving for a better job. When I moved to Vancouver in 2008 a friend told me that RE would be back and I should buy. I was too smart for that so I missed the boat on The Great Richmond Windfall. Oh well.

(b) Family income,
Double government – 120k gross

(c) Age
35 & 30

(d) Outlook for RE over next two years.
My opinion (based on little, I suppose) is that homes are 30% too expensive for what you get and what the salaries are. I hope it doesn’t sound tinfoil hat-y, but I expect clear movement after the next federal election; an attempted controlled soft landing. It’s Bad time to buy a home.

#521 Smoking Man on 06.20.14 at 8:38 am

What gives…

500 + comments, a record for sure.. Braging bastards.

Stocks up, record
Gold up
Oil up
Bonds up

Got some Cialise everything’s up…

It’s going to be a good good night,

#522 maskedavenger on 06.20.14 at 8:38 am

a) currently rent
b) 43
c) first year of self employment, so who can tell at this point. We’re used to living on around $80,000
d) my local market will likely decline by +/- 20% before the start of 2016

#523 Can't Believe on 06.20.14 at 8:40 am

Can’t believe the incomes on this blog. Won’t tell you how little I make. Seems like GenX is doing great, no reason to complain about boomers. Lots of boomers I know make no where near that money.

Don’t think real estate will go down with these kind of incomes. These kind of incomes probably helped inflate real estate prices.

Also can’t reconcile some of the lame comments posted nightly with this level of income

#524 OttAar on 06.20.14 at 8:41 am

1) Rent in Ottawa
2) $150 k (2 earners)
3) 28
4) Steady 3-5% decline from 2015-2020 per annum as interest rates rise modestly and normalize.

#525 Chris on 06.20.14 at 8:43 am

Crash and burn, baby. We’ve given up trying to move out of our $200K condo here in Ottawa. There is nothing I would consider affordable anymore.

#526 Wee Willy on 06.20.14 at 8:43 am

A) rent
B) family income $175k. Presently saving $4,000 per month which is being added to significant investment portfolio (passive, well diversified, etf’s)
C) 43 and 40
D) a reasonable correction would be 20 to 25%, but who the hell knows when it will happen. More importantly, the market needs to correct significantly before we are enticed out of our rental and into buying a home.

#527 Calgary on 06.20.14 at 8:44 am

(a) rent or own: Own
(b) family income: 190k
(c) age: 42
(d) your outlook for real estate over the next one or two years: really hard to predict and it definitely depends on where you live, but in general I believe prices will correct 25-30% once interest rates start to normalize into the 5-6% range which may or may not occur in the next 1-2 years. How’s that for non-committal ;)

#528 Aaron on 06.20.14 at 8:46 am

(a) Own
(b) Not something I post online
(c) 34
(d) in the Halifax Area – 10 – 15% decline.

#529 Smoking Man on 06.20.14 at 8:46 am

Cpi up, Cad Dollar up.. Bonds selling off.

Poor Prozac, stuck between a rock and a hard place now… If he don’t drop over night, Wynne hoes ahead with pension grab.. Ontario is doomed..

Ps to bubble boy… It was – (220k) meaning minus… For the worced year..

#530 David W on 06.20.14 at 8:46 am

Seems like a large number of well to do people come to this blog but this doesnt represent the population as whole in Canada

#531 willdaman on 06.20.14 at 8:47 am

a) own (looking to upgrade)
b) $220k household (excluding investments)
c) we’re both in 30-39 range
d) SFD Toronto continued march up at slower pace but still more than inflation. SFD in GTA flat to 1-2% decline, will be dependent on how close you are to Toronto and transit access to Toronto core.

I don’t quite understand those that are saying big centres will get hit more than smaller centres…demand is, and will continue to be, in the larger centres where there are more people and higher paying jobs.

For those that think that there will be a huge crash affecting the majority of the Canadian housing market, just some food for thought: it would be political suicide for the government in power to do nothing to try to right the ship (and, assuming a huge chunk of MP’s own homes and are generally folks who are closer to the retirement spectrum than the beginning of their working careers, it would be in their own self interest to put in a quick fix). So my guess is if there is any correction, it will either be small (or none in certain areas) or will be a minor blip with recovery in a couple years fueled by government intervention and pent up demand for “cheap” real estate (where such demand exists today).

Garth, next survey questions should be:
– If you are currently renting, would you consider buying if there was a 5%, 10%, 20% drop in home prices in your area?

#532 Joe on 06.20.14 at 8:48 am

If the income numbers stated by the majority are true then we don’t have to ask ourselves why real estate in canada is through the roof… Canadians are absurdly rich!

#533 Big Sexy on 06.20.14 at 8:49 am

Own. 55k. 26. Doesn’t look good.

#534 Dr. Evil on 06.20.14 at 8:50 am

a) Ladies and gentlemen, welcome to my submarine lair. It’s long, hard and full of seamen!

b) Why make a trillion when we could make… billions?

c) I never knew my birth parents. There was a car accident. My birth mother was incinerated, and I only survived because her smoking carcass had formed a protective cocoon of slaughtered human effluence. A Belgian man and his fifteen year-old love slave were looting the accident scene, and came across a blood soaked baby, moi. They raised me to be evil. You know, that old chestnut.

d) Don’t worry, mama. Things won’t get weird.

#535 angela on 06.20.14 at 8:50 am

HA HA HA – looks more like a pathetic dating site today!

a) rent since 2008 in BF Nowhere, ON
b) $70 single income
c) 46
d) you tell me – I just like to watch

#536 skeeterpeg on 06.20.14 at 8:50 am

own and paid for in 2000
20% in the ‘peg on avg, but that’s still not enough

#537 Tim on 06.20.14 at 8:51 am

(a) Own – like totally, no mortgage
(b) $110k
(c) 36
(d) 10 to 20% decline on average within five years

I bought pre-boom in Regina (so like half of what people are paying now), so I’m looking around my area and I won’t buy a house here now. Doesn’t matter much for us since we paid off the mortgage in 2012.

Great blog…expect I would like a bit more of reference links…some days I don’t know what you are reading, but I would like to.

#538 Real Estate Fan on 06.20.14 at 8:52 am

I’ve been reading the blog for a while, time to chime in:-)
1) Own home in The Beach (Toronto) and cottage (Kawarthas)
2) Combined $250,000-$350,00….my spousal equivalent has a set income, I am a R.E agent so my income fluctuates.
3) 57&59
4) In Toronto, house prices will increase at a slower rate, condo prices are already stagnant.

#539 Bruce on 06.20.14 at 8:53 am




10% correction

How many Amazons will it take to amass and analyse this data?

#540 TorontoRentor on 06.20.14 at 8:53 am

A) Rent
B) $79K,Single
C) 48
D) Depending on the market some corrections, -15% blended

#541 Newname on 06.20.14 at 8:54 am

1) Rent
2) Family Income- 110k
3) 34 and 35
4) Flat. No correction until rates increase

#542 NRI13 on 06.20.14 at 8:54 am

a. Rent
b. $110,000
c. 33 years
d. No idea – Frankly, feel like i am fighting a losing battle and losing hope and think I should have bought 5 years ago.

#543 Robert on 06.20.14 at 8:56 am

Let the statistics begin!

a) Own – no mortgage
b) 150K
c) 43
d) Down 25%

#544 East Coaster on 06.20.14 at 9:01 am

(a) rent or own,
Own, but also own a rental property
(b) family income,
Close to 100K
(c) age and
(d) your outlook for real estate over the next one or two years.
Pretty much steady out here, not much change over the last decade. In Toronto, I see a 25% correction, but not for another 3 to 4 years, same for other major areas of the Country

#545 Dude on 06.20.14 at 9:01 am

a) Own
b) $170,000 (dual income)
c) early 30’s
d) depends on geography + “i” rates. I live downtown Toronto, slight increase over next 3 yrs of 3%-5% per annum

#546 Love your creativity Mr Garth on 06.20.14 at 9:04 am

(a) own (worth 375K, paid)
(b) 280K
(c) 50 (48 spouse)
(d) 15% correction in next 2 years

#547 00JohnD on 06.20.14 at 9:05 am

(a) own,
(b) 110,000 couple,
(c) 31
(d) 20% correction.

#548 Docent on 06.20.14 at 9:07 am

a) Own
b) $85,000
c) 33
d) 10%-20% correction in Ontario

Thanks Garth!

#549 KWaltz on 06.20.14 at 9:07 am

(a) rent (amazing landlord, under market, best schools)
(b) about 1/2 GTA average
(c) bordering either side of 40
(d) 30% in TO

I’m waiting for the wrinklies to die off for the real carnage.

#550 jONATHAN on 06.20.14 at 9:08 am

a. Renting — suburb $2,000.00 4br SFH
b. $85,000.00
c. 51
d. 2016 correction 20 30%

#551 Jenn on 06.20.14 at 9:09 am

Wow!! We all like to share.

1) Own (We built our own home cash. Stratford Ont.)
2) $320,000. Combined
3) 43 & 55
4) 30% correction over 7 years starting soon at a theatre near you.

I just skimmed a few of the comments and I am betting that some where through 515 comments someone mentioned that we are not doing too bad when it comes to owning and our earnings. I am really impressed. Good job Canada!!

#552 Dual Citizen In Canada on 06.20.14 at 9:14 am

The most impressive stats on here are the young, high income earners who are debt free. I salute you and encourage you not to fall into the debt trap or the peer pressures of life. To have control of your finances at such a young age will pay dividends as you age and give you the freedoms the rest will continue to dream of. If you have kids, please pass on your life lessons to them. It’s the genetically right thing to do.

#553 rosie "moving forward" in the knowledge that, "this won't end well" on 06.20.14 at 9:15 am

– Do any of us really own anything?
-$200.00 more than we spend.
-You’re only as old as you look. We look marvelous.
-Over correct, then back to the mean.

#554 will on 06.20.14 at 9:19 am

a) own
b) 125k (family)
c) 31
d) 30% crash

#555 Susan from the London area on 06.20.14 at 9:21 am

1) rent but own 2 houses I rent out (long story)
2) $103,000 soon to change lower. Investments and income.
3)56-58 non employed in transition
4)I think it has to drop it dosn’t make sence the cost of housing compared to the job market and no increase in wages. Real Estate has already gone beyond the principle of Diminishing Returns but continues to go up. Something has to give.

#556 andrew on 06.20.14 at 9:24 am

rent (b) single, 28500$ (c) 25 (d) Bugbear

#557 Phil from Fernie on 06.20.14 at 9:29 am

1. Own in two provinces, rent in Nevada
2. $10.2 million 2013 (private family corporation)
4.We are in denial here and will follow a very similar path as the US six years ago. We expect a national 30% drop within 3 years and no gains after that for a decade, so equivalent to another 10-20% drop.

#558 Dave Beethoven on 06.20.14 at 9:30 am

A. Rent (downtown Toronto)
B. Married (no kids). Family Income: $235,000.
C. 35 (me) and 34 (wife)
D. 416 single detached and semis: I predict sideways drift at current levels for a few years, maybe a 5% decline in prices eventually but not in the next year or two. The condo market baffles me entirely, I would not be surprised if condo prices declined by 30% (or not at all).

#559 Waterloo Resident on 06.20.14 at 9:32 am

EVEN MANY ABOVE $250,000 !

Yet at the same time most of them are expecting a crash in housing ?

Come on here, if so many people in Canada have such high incomes, then housing at today’s prices are actually CHEAP, and those $1 Million houses will soon be selling for double or triple those prices, AGREED?

#560 Lotuslander on 06.20.14 at 9:35 am

Owned various homes since 1980 then sold in 2011. Renting since then.

$120,00 both of us combined

59 and 60 years old

We’ve been watching the Vancouver market closely and it defies common sense. Real estate decisions are often based on emotion (I’ve been there myself) but when the fundamentals are so skewed and the economy is floundering, bad things can and often do happen. It’s astounding how delusional many people are. This is only delaying the inevitable crash. It’ll start out slowly and then implode but when that’ll happen is anyone’s guess.

#561 Mike in Edmonton on 06.20.14 at 9:38 am

A.) Rent
B.) $133K last year, on track for $150K this year
C.) 37
D.) Prices with continue to increase with no change in interest rates.

#562 Horny Calgary Truck Guy on 06.20.14 at 9:40 am

a) Rent
b) 75k to 85K (single income)
c) Dirty thirties
d) Calgary down 10% in five years

#563 gladiator on 06.20.14 at 9:40 am

next time you ask for such info, please also ask what people do for a living. So many high income earners, which given the type of info in this site is normal, but nothing about what they do.
I am dying to know what those who make 150+ do for a living. Maybe I am in the wrong field and shouldn’t have wasted my time on studying for my CFA exams?

#564 Gmac on 06.20.14 at 9:40 am

a) Rent – much to my wife’s disappointment
c)Late 40s
d)Agree with you on Real estate, disagree with your analysis of equity market. All Markets messed up due to low interest rates/QE. People penalized for saving and people are rewarded for being too aggressive. Fundamentals don’t support where the markets are at. Govt stats are even worse. In a world where all money is backed only by the faith of the govt, don’t expect to get the true stats from the govt.

#565 drawn to black on 06.20.14 at 9:43 am

A) rent
B) $80k
C) 27.5 years old
D) in 5 years, 30%

#566 liquidincalgary on 06.20.14 at 9:47 am

this just in: core inflation at 1.7%

sure happy for those inflation linked investments now, eh boy-o!

#567 Yanniel on 06.20.14 at 9:47 am


You should create a pull. Ask your webmaster for it.

Not everybody likes writing comments, but clicking a button or two is easy.

So, make a pull with your questions. You’ll get a bigger (and more condensed) sample of responses.

#568 calgary poor on 06.20.14 at 9:48 am


I am in the same spot, minus about 70k in the income area. And I too feel the same. I had no money to buy 5 years ago, and now that I have money I cant justify its cost. :(

#569 cody on 06.20.14 at 9:48 am

Holy crap, look at all the high earners here! I’m 28, work as a software developer in Toronto, and make 57k (about average for my level of experience), and reading your posts has me very depressed. I’ve tried interviewing for higher paying jobs but it seems nobody wants to pay more than I already make because there are ten other guys lined up willing to work for less. How in the world do you guys make the money you do? Help a brother out.

#570 Rusty Venture on 06.20.14 at 9:49 am

Ok I’ll play too!
a) own (the bank owns 35% of the Venture compound)
b)$95k salary plus $5k investment income
d)SFH steady over next 2 years, then underperform vis-a-vis inflation. Condos down 10-15%…

I am expecting inflation, BTW, both CPI and M2. Salary inflation, not so much…

#571 Rene on 06.20.14 at 9:49 am

a) Own in small town near Winnipeg
b) $110,000 (family income)
c) 36 and 31 years (3 kids aged 6-4-1),
d) 10% drop in 2 years, 20% drop over 5
e) Only debt is mortgage at 50% of home value. 90k in retirement savings + 2 DB pensions + ESOP)

#572 gulf islander on 06.20.14 at 9:50 am

a) rent, sold a few years ago, but going back in; building a small home on owned Ag land.

b) 34k combined.

c) 3 score years and 16

d) continuing slow slump.

Soaring with the eagles, but trying to stay below the radar.

#573 ozy - MAKE A LINK and COMPILE SURVEY automatically on 06.20.14 at 9:51 am

1. OWN two strategically located properties
2. 110000
3. 40-45 old
4. Some will go higher (south of HW401 freeholds on subway line), some will stagnate (non-diverse, ethnically enclavized suburbs outside Toronto), and some will drop (most condos with some exceptions).

#574 Matt Baillie on 06.20.14 at 9:54 am

A) Rent from family
B) 70,000
C) 29
D) Not up, down if we get mortgage rates climb or any number of things happen.

#575 JRH on 06.20.14 at 9:55 am

The pile is getting higher…what’s that smell ?

#576 TryingMyBest on 06.20.14 at 9:59 am

a) rent
b) 85 000$
c) 33
d) 10% correction for Montreal

#577 Delusional!? on 06.20.14 at 9:59 am

No wonder price of house is so high, the rest of Canada is delusional as the posters here (with their average fantasized 200K+ income). Anyone can easily afford a $1 million house.

#578 Soon to Retire on 06.20.14 at 10:01 am

a) own
b) 245,000 (consultant in the oil industry)
c) 54 years old
d) Prices will plateau and then stagnate with a 10%-20% decline depending where you live. The stagnation will last 5 to 10 years then start up again.

I built a retirement home in BC and am presently carring a mortgage on it. I plan to sell my paid-off home in Calgary in a few years, pay off the mortage on the BC property, and add the difference to the Garth-like investments I have. ETF’s forever!

#579 Mithan on 06.20.14 at 10:01 am

a) Rent
b) $80,000
c) 37
d) No idea. 10-20 years stagnation at the very least.

Regina is correcting already though. Having sold my house a while back, I peaked out and probably made $30-40k more than I would get today, even though the Leader Post reports that we have only fallen about 1% in the last year. I call BS on that one.

The simple fact is that in Regina, most of the news jobs created were for people building homes. Home starts are down about 50% or something, now shifting to Multi-family homes because that is where the market still resides due to prices (ie- single home costs $500-600k, multi-family costs $200-400k).

Well, this is going to slow down, resulting in people losing their jobs slowly, apartment vacancies increasing, etc, etc. Late next year and 2016+ is when things are going down here.

#580 gla2yyz on 06.20.14 at 10:06 am

A) Rent, and glad of it.
B) Up until a month ago $140,000. But now Beloved has packed her bags, $72,000. Another reason I’m glad I rent!
C) 32
D) I don’t anticipate a major fallout in major urban centres (location location location) but in the hinterlands (i.e.: outer GTA) there will be a gentle slide into mediocrity within the next few years. We can’t stay this course forever without hitting a sandbar.

#581 Bloodcross on 06.20.14 at 10:07 am

1) Rent
2) 150k
3) 37 single
4) -25% crash, but 10+ years away. Demographics are a slow process.

#582 Baz on 06.20.14 at 10:08 am

A) Rent
B) $87,000 per year (but I have good savings and I easily can put a 50k in down payment)
C) 32 and 31 + 3 little girls
D) 40 – 60% correction over a period of 3-4 years from the crash starting date ..

Thanks Garth for this blog – it helps me to fight back all the pressure I am getting from my peers, parents and friends.. of course I would love to own a house , but I also don’t want to be a salve of debt ..
My wife and you are the only 2 last ppl supporting me in this battle that no one knows how long it will last .. pls keep posting ..

#583 Delusional!? on 06.20.14 at 10:08 am

“we come here every day, snipe and bitch at each other…try to sound way richer or macho than we are”

You definitely got that right..you just proved your point with all these posters and their made up income.

#584 Flayto on 06.20.14 at 10:08 am

a) Own
b) $90,000
c) 38
d) Prices in Guelph will stagnate for next 3-5 years

#585 Bloodcross on 06.20.14 at 10:12 am

As for the high income reported income, it is surprising but when you think about it, it makes sense. How many people with no money are really interested in econoblogs… I read NYT’s Krugman too. People interested in those subjects are more likely educated and thus more likely to be wealthy. In retrospect, expecting that the readership would be a representative vertical slice of society was probably more naive than actually believing the income data being reported here.

#586 Mike on 06.20.14 at 10:13 am

a) own
b) 100k
c) 54
d) doesn’t matter; following for entertainment purposes :)

#587 H on 06.20.14 at 10:13 am

a) own (no mortgage)
b) 150k combined
c) both 36
d) slow melt has already started here in Whistler. Houses seem to be selling but are going for less than asking price. Melt 10-20% over then next year or two before the herd starts to panic then crash another 20-30%.

#588 Mortgageless mortgage professional on 06.20.14 at 10:15 am

a) Rent (lowly basement dweller)
b) $130k
c) 37/37
d) 30% correction Toronto/Vancouver Condos and niche properties by mid 2015 and 15% correction for everyone else.

Hoping you do a speaking tour Garth!

#589 twom83 on 06.20.14 at 10:15 am

A) Rent ($1500 – Little Italy)
B) $150K (mine & gf)
C) 31
D) Slow long term correction in SFH value (10ish years – 15 – 20%). Condo crash 30% within the next 5 years.

#590 Statistics Canada on 06.20.14 at 10:16 am

On behalf of the Government, we at Stats (as we call it) Canada would like to thank you all, especially you Mr. Turner, for the invaluable information regarding employment and incomes from average Canadians on this wonderful site. We have an intern crunching the numbers as we speak and we can tell you all that these numbers will certainly make a difference in future forecasting and policy decisions from your New Government of Canada. Again, thank you. This is much easier than checking all those Kijiji sites, and far more accurate.

#591 MC on 06.20.14 at 10:17 am

A) Own (condo in Vancouver since ’07)
B) $130,000 per year (combined)
C) 41 and 45
D) 10 – 20% correction

#592 CMoney on 06.20.14 at 10:18 am

30 year old independent financial advisor.
I rent in Ottawa.
Income around $100K annually. Investment portfolio of $150K.
Real estate is overvalued but severity of corrections are hard to predict. I see no growth from now over the next decade.

#593 Pounding sand in Peachland on 06.20.14 at 10:22 am

I’m a dog owner

#594 Grantmi on 06.20.14 at 10:25 am

USA housing market starting to hit the pooper!!

Housing Market Falters Amid Rising Prices, Lower-Paying Jobs – Bloomberg http://bloom.bg/1lFaqCd

#595 Ret on 06.20.14 at 10:27 am

a) Own (clear) just west of GTA, $335,000 approx.
b) $120,000
c) 62/62
d) Want to upgrade but don’t want to get smoked for $100K in after tax dollars when prices drop. Prices will drop with interest rate increases and/or CHMC lending guarantee changes.

Canadians and their governments appear to be totally focused on sowing the debt seeds of their own destruction. Party on Canada!

#596 YYC on 06.20.14 at 10:27 am

a. Rent
b. Single – $91,000
c. 34
d. no change in Calgary short term, people just don’t get it.

#597 Dwight on 06.20.14 at 10:28 am

Prices for real estate in the Okanagan will continue to slide as they have been for the past four years.

#598 Young grassturner on 06.20.14 at 10:38 am

A) Rent (combined = 1,300/month)
B) Personal = 45,000 Combined = 115,000
C) I’m 25 she’s 24
D) I really don’t think I can predict RE with any accuracy however if I had to guess I’d say 30% decline. I do not think it will be a soft landing. Markets don’t have soft landings, generally they crash.

I look at it from a risk reward perspective. Sure prices could rise and I could miss out on appreciation of 5 – 10% in Red Deer area. But a 30% decline is possible, who knows maybe a 50% decline. A Risk of 5 or 3 to a Reward of 1 (RR = 5:1, 3:1) is a sure fire way to lose money time and time again.

I will continue to put 50% of my income into a range of equities with a more favourable risk reward ratio and the added liquidity should I wish to bail and be in cash.

#599 Keith in Calgary on 06.20.14 at 10:39 am

1 – RENT in Canada and own in Brasil

2 – Combined incomes inc investments $268K

3 – 54 and 49

4 – RE in Canada will flatline and then slowly decline for a decade at least, losing 30% or more over time. It won’t be 25-30 years before we see another “boom” as the demographics and the simple math prove it’s over.

#600 Sebee on 06.20.14 at 10:40 am

Impressive reader data sample, probably reasonably accurate. And all you have to do is ask nicely. Who would think it? Anytime I get a call asking to participate in a survey, I can’t hang up quickly enough.

#601 Calgary on 06.20.14 at 10:41 am

a) Rent in Calgary ($1200/month utilities included)
b) ~$220,000
c) 32
d) No clue, (to much manipulation in the markets) but all I know is that my precious metals will be worth a lot more than housing over the next few years.

#602 KrisA on 06.20.14 at 10:42 am

a) own
b) $100000
c) 37
d) I’m on ‘crash alert’ in Regina, 40% wouldn’t surprise me

#603 BillyBob on 06.20.14 at 10:43 am

1. Rent
2. $216,000CAD net (overseas untaxed jurisdiction)
3. 44
4. 20-30% across the board with highest losses in speculative markets

Been following this forum for a couple of years now and even though I could “afford” a house in Canada, wouldn’t touch it as it doesn’t represent good value. At all. Canada is the laughing stock of the world in RE.

#604 20something on 06.20.14 at 10:45 am

a) rent
b) approx. $130k (based on two incomes)
c) 27
d) I think that (at least in the GTA) home prices will likely increase over the next 2-3 years but will flat-line and then decline after this. Maybe 20% depending on the area.

#605 D32 on 06.20.14 at 10:47 am

a) Rent in Vancouver
b) 155,000 dink income (65k + 90k)
c) 47k in student loans (originally 120k) still paying off
d) 33 / 33
e) I’m hoping there will be a 15-20% correction in 604, but wouldn’t be surprised if nothing happens in the next 5 years

#606 sm_yyc on 06.20.14 at 10:49 am

d)no change – 10% correction

keep up the good work Garth; your financial tips saved the day for me.

How is your recovery?

#607 MH on 06.20.14 at 10:49 am

a) rent
b) $65,000, by myself
c) 27
d) I live in downtown Toronto. I think the house prices are ridiculous, and should decline by at least 20%. No one my age can afford a house (even as a couple)

#608 S on 06.20.14 at 10:51 am

Holy cow, I need to start paying myself more.

#609 Bdy sktrn on 06.20.14 at 10:52 am

#517 lala on 06.20.14 at 8:35 am
B. 44, wife ***29 ***

Can I borrow your wife?

#610 japan on 06.20.14 at 10:54 am

This is my first comment on this blog. I visit only 2 blogs every day, this is one of those.

I rent.
I make about $90k/year.
I am 41 year old.
I think prices will be higher.

This is a great idea – doing this survey. This allows me to know what kind of company I have.

#611 Meck on 06.20.14 at 11:03 am

A. Own, with a $150,000 mortgage
B. $97K
C. 50
D. Goes down to 2009 levels (at least Toronto & Vancouver will)

#612 JD on 06.20.14 at 11:03 am

Rent – Toronto

#613 treetoad, CFA on 06.20.14 at 11:04 am

All right, I’ll come out of lurk mode. Once.

a) own
b) varies: $400-600k, fair bit higher some years
c) 43
d) bubbles tend to mean revert, so back to LT price/income and price/rent seems reasonable. We’re stuck in the 2000’s Southern European zone; importing someone else’s monetary policy. That generally doesn’t end well.

Also, Garth: you occasionally make a comment about a recession derailing housing prices. Causality seems to strongly run the other way. See (for example) Ed Leamer’s 2007 Jackson Hole paper “Housing and the Business Cycle”.

Enjoy the site, by the way. Bit like Patrick.net was in 2005-07 pre the US mess.

Back to lurking.

#614 Bdy sktrn on 06.20.14 at 11:07 am

With the high earners here RE will double over next 7yrs

What I want to know is what the bigshots are doing for work. I thought we were way ahead of the crowd but the crowd is doing well.

As the best way to accumulated wealth is to make more cash, in the interest of all lesser dogs, please share your type of work if you are over 250k. Or even more interesting are the pups making large coin.

If you are 35 or under and have personal income over 100k and are not a doctor PLEASE tell us how you do it.

Our answers
1 own house and camp, no mtge
2 200k (one earner)
3 47,46,13
4 demand areas uppa 50 over next 5yrs

#615 Joe2.0 on 06.20.14 at 11:11 am

#516 Old Man

Gold digger.

#616 blanderson on 06.20.14 at 11:11 am

a) Rent in Toronto ($1475/month)
b) 135K
c) 31
d) 30% drop

Garth, I read every day, though this is my first comment. I have enjoyed reading these comments, but maybe it would be worth setting up an actual survey (https://www.surveymonkey.com/?ut_source=header), so we better understand/see the demographics

#617 Adam M on 06.20.14 at 11:11 am

Rent a large house with roommates in a nice location of Calgary for 350$ a month

Make 70,000$ as a software developer. 10,000$ in a balanced ETF TFSA.

23 years old

Waiting for a correction like a vulture. People my age are horny and think it’s their life quest to own. I’m saving crazy amounts of money renting with roommates. Building a down payment for however long it takes.

Huge fan of your blog. Apologies for being one of the 99% that doesn’t comment. Like you, the regulars scare me. Don’t die just yet, I’ve got a house to buy in the coming decade.

(a) rent or own, (b) family income, (c) age and (d) your outlook for real estate over the next one or two years.

#618 Margaret on 06.20.14 at 11:14 am

Rent – Edmonton
54 yrs old
Household 190K
30% Correction
Have noticed in the last 3 weeks rentals available here are way up; wonder if stuff isn’t selling like the Edmonton Journal claims? (smirk)

#619 Nuke on 06.20.14 at 11:15 am

a) rent public housing townhouse
b) $180k family earned semi retired (not including investment income)
c) 56
d) 20% or more based on return to norm

#620 LotusLand on 06.20.14 at 11:20 am

A) Own, of sorts. Partner and I live in a loft in Vancouver purchased for him by his parents.
B) Same-sex partners, no children. $180K
C) Both 29
D) In Vancouver, maybe 5-10% correction. I’m assuming stagnation rather than a correction.

One of us has a student loan of $19K. Other than that, no debt. We invest in the market. We’d like a bigger place but don’t feel like there is much potential growth in housing as an “asset”… Better returns in the market.

#621 MarcFromOttawa on 06.20.14 at 11:20 am

1) own. looking to sell and rent
2) 55K
3) 28
4) flat nominally and negative real (either inflation picks up or C$ goes down further)

#622 Joe2.0 on 06.20.14 at 11:21 am

Smoking Man

Where can you make that amount of money making licence plates?

#623 Sam on 06.20.14 at 11:26 am

First time poster.
a) Rent (owned before)
b)Married. Single income 200k
d)30-50% drop coming

#624 David Hawke on 06.20.14 at 11:28 am

Canadian X-pat living in El Salvador
Heard about the Greater Fool one day at my guest house in Phnom Penh while talking to another X-pat from COTU who was on a visa run from Bangkok.

Bought a house in the GTA in 1976 sold to son in 2000 with down-stroke from bank of dad, bought a cheap commercial lot a mile north of the GTA boundary and built a shop for my business with an (illegal) apartment above the office.

Sold in 2008, travelled for 2 yrs then bought my present house near the beach in the tropics for cash.

a) own
b) enough
c) 65+
d) 30% adjustment if Justin gets in in 2015, 50+% CRASH if Herr Harper miraculously gets back in

Read the blog to reaffirm I made a smart move leaving Canada!

#625 Rabbitt One on 06.20.14 at 11:32 am

1): Rent $3,300, own 2 X 1BR condo

2)1: I used to make $65,000 + incentive at retail bank branch – like for 15 years, my initial salary in 1991 was @ $24,500.
I know branch managers barely make $100,000.

Recently moved to 100% commission position, have own long term clients and business sponsors, making around $340,000 gross.
I feel myself this is very high income, considering my bad English skills, immigrant from Asian country came in 1990. Canada is very generous for newcomers.
I am in this high income position for last 3 years and feel my job is stable for at least for next 5 years.

My spouse at Union office makes $74,000 after 20 years+ service, semi-management position.

3): 49

4): at least 20% correction

#626 dosouth on 06.20.14 at 11:33 am

Isn’t this one of your local companies now setting up their wares in the states before Canadas market collapses? I could be wrong about Mattamy….

Canada buys up US

#627 renters rule on 06.20.14 at 11:33 am

rent (have owned in the past0
RE correction: crash, then revert to long term trend (inflation + a couple of points per yr). Van: decline 10-15% next 2 years, yrs 3-5 after that, another 10-20% decline; and then a loooooong swoon after that.

#628 ducker on 06.20.14 at 11:34 am

a) rent. in manhattan. painful, but we hate to commute. Lived in Toronto until recently, also rented.
b) $240k between the two of us. Cut off 30% in your head to account for the fact that people in America bleed money for all sorts of things Canadians don’t have to pay for.
c) 34
d) there is no “Canadian Economy”. Different parts of the country crash at different times according to their respective industries. If you happen to be locked into a big mortgage when your part of the country decides to bust, you will hurt more than if you can pick up and leave.

#629 calgaryPhantom on 06.20.14 at 11:40 am

1- rent ( 7 years and counting)
2- thank you God for what I earn.
3- 30
4- +/- 5 % for next 10 years.

#630 E K on 06.20.14 at 11:40 am

(a) rent or own, (b) family income, (c) age and (d) your outlook for real estate over the next one or two years.

a) Rent
b) 36,000
c) 30
d) 15% drop

#631 SwampLily on 06.20.14 at 11:41 am

a) rent
b) $130K (zero debt + healthy savings & investments)
c) 55
d) 30% correction (40% in Victoria BC)

#632 Ottawan on 06.20.14 at 11:43 am

Sure, I’ll bite.

A) Rent the main floor of a house
B) $108k family income
C) Ages 31 and 27
D) In Ottawa: 20% drop over a couple years, followed by ~0% gains until rent and incomes catch up.

#633 MC on 06.20.14 at 11:44 am

a)Rent EDMN – Sold EDMN condo (4yrs ago), Sold Calgary home(finalizing this month), plan to continue to rent at this time.
b)120k family
d)I think 5-20% if only 1-2 years but will be dependent on condition and neighbourhoods primarily. I think the new burbs will be hit hard whereas more well established nice neighborhoods near central will keep stable somewhat. These are my thoughts for Edmonton and Calgary though. However 2 biggest factors here I think are if interest rates spike prices or the oil economy crashes, then I think would lower quite a bit more then that.

#634 DJG on 06.20.14 at 11:44 am

Own – Toronto
Household income: $410k
Age: 39 (me) / 38 (spouse)
Prediction: Modest correction in central urban areas, with fall in C$ disguising most of the fall; steeper decline in godforsaken outlying areas of GTA.

#635 Software Guy on 06.20.14 at 11:47 am

a). rent
b). 550K
c). 31
d). 30% over 5-8 years

#636 JunkieMan on 06.20.14 at 11:51 am

a Own (Florida) rent Toronto

b 45000-75000 depending if I actually work or just travel

c 28

d Crash- 30-40 percent

#637 CommentVirgin on 06.20.14 at 11:51 am

(a) Co-Own with brother
(b) Household income $260K (brother+girlfriend)
(c) 33
(d) slow melt of 20-30%

#638 Alex n Calgary on 06.20.14 at 11:55 am

ack! I hate talking about money but if it helps

A) Rent
B) 145k between two of us
D) Calgary, 2yrs reduction in prices starting, god willing! they’re holding on by their teeth right now on any property over 400k

#639 nh on 06.20.14 at 11:56 am

a) rent, spent a year looking to buy to start a family and outgrowing current shoebox
b) ~175K
c) mid-thirties
d) been waiting for a correction for years, don’t see it happening in next two years

#640 RF on 06.20.14 at 11:58 am

A) Rent
B) $90K – single
C) 43
D) Vancouver correct the most 30-40%
Calgary 25% (due to lower overall housing cost)
Toronto 25-30% (larger population)

#641 Adriana Lima on 06.20.14 at 12:05 pm

Lol lots of liars! Is everybody here doctors? Or lawyers maybe dentists? The only guy I know that makes a lot of money is my father in law ( plastic surgeon).
Anyway, i gotta go, somebody here needs to work!

#642 to_be_frank on 06.20.14 at 12:05 pm

(a) Own
(b) Married – $130K
(c) 57
(d) Tossup 10% or 30%. I’ll say 10% over 2 years but probably more later when interest rates normalize.

#643 Guy1 on 06.20.14 at 12:07 pm

For the record, I doubt stated incomes are inflated. Those are the people attracted to this blog.
Own (70% mortgage)
Predicting 2 year outlook is impossible but the risk of both a crash 30% and a long term decline is high.

#644 GsAmazon on 06.20.14 at 12:19 pm

a) Rent
b) $88,888 – G makes enough to support 1 Amazon artist + all accompanying flora and fauna ;) – no small task in these facepalm-ing times !
c) Early 30s
d) hmmm, what would smoking man do? Okay, I’ll hazard a guess – here in TO best case 15% houses 30% condos, worst case 30% houses 60% condos, taking way more than one or two years to revert to the mean. But really, es ist mir egal…i’m a virgin.

I read this blog every day for sanity, levity, and financial news/advice. In that order. Arf-arf.

#645 Sask_guy35 on 06.20.14 at 12:22 pm

a) Own with $190k owing
b) $160k
c) 38 married with 2 kids
d) 20%-30% correction. I thought it would happen between 2012 and 2016.

#646 Skiffy on 06.20.14 at 12:23 pm

(a) rent in Toronto
(b) $85K Common law couple(Partner just finished school so should grow soon)
(c) 29
(d) 10-15% drop followed by stagnation

#647 Thornado on 06.20.14 at 12:23 pm

a) Rent.
b) $105k between the two of us (gross).
c) 28
d) Most of Canada is due for a real estate correction in the next couple of years.

#648 ServiceIndustry on 06.20.14 at 12:26 pm

a) rent in Edmonton
b) 40,000
d) there will be a correction of various degrees in different markets, by my numbers of about 20-50%, but not until 2016 or so. I’m here for the investment advise anyways. Real estate is in casino territory, and the house ( 100 year mean) will eventually win.

#649 Ogopogo on 06.20.14 at 12:27 pm

(a) rent (of course!),
(b) family income: low 6 figures,
(c) age: late 30s
(d) your outlook for real estate over the next one or two years: continued depreciation in the Okanagan and more lies and manipulation by realtors (just look at Devil’s Advocate’s shrill ramblings)

#650 Cici on 06.20.14 at 12:28 pm

#196 Financial Freedom at 40

We also know that he both rents and owns, is a mega-hunk with a flock of adoring Amazons, makes a ton of cash making a ton of cash for the luckier among us (but not me…YET), is married to the most foxxy Amazon of the flock, Dorothy, and rides around in airplanes a lot when he’s not on his Harley, hanging out with his dogs and usBlog Dawgs…or injuring vital joints.

#651 wetcoast on 06.20.14 at 12:28 pm

a) rent
b) $110k with stay-at-home wife and 2 kids
c) 40
d) -40% here in YVR

Sad that people making decent money cannot afford a modest home in the city here.

#652 Gordon on 06.20.14 at 12:30 pm

Rent for past 2 years (owned 20 years previous to that)
85k (retired)
Guessing home prices will flat line or slowly melt to long term average

#653 Fix or Fall on 06.20.14 at 12:31 pm

Here’s my Greaterfool short form census

a) Rent (Toronto area)
b) 70K
c) 30
d) In 2 years: drop of -10% in Toronto. My guess is the road down will look a lot like the road up. There’s no way owners’ egos are going to let them part with the paper gains they think their home has earned. At least not all at once. Condos may be a different story. Too many view these glass boxes as investments. If they think their shares in the sky are falling we might have plenty of panic selling.

After seeing the incomes here it clearly doesn’t look like becoming a “professional” has paid off. My first inclination is to give up and go down the hippie road. Bring on the pot brownies and drum circle.

#654 cowtown cowboy on 06.20.14 at 12:32 pm

1. Own

2. Approx. $250k(salaries + corp income)

3. 45

4. Flat or +/- 5%

#655 Cici on 06.20.14 at 12:34 pm


Thanks for this idea; really interesting to learn about fellow Blog Dawgs and read their opinions!

Thanks also for not turning this into a stupid, boring and anonymous survey form, which would probably skew the results and water them down, making them less interesting.

#656 Aj on 06.20.14 at 12:35 pm

A) neither – still living at home
B) 65K
C) 28
D) Business plans crapped out (Thanks Wynne among others). Still waiting for correction in ottawa. Expecting 3-5% reduction tops but hoping for 10-15%

#657 David on 06.20.14 at 12:37 pm

A) own
B) $200k
C) 38
D) slow decline.. 10% over next two years (a few years late!)

#658 Shawn on 06.20.14 at 12:37 pm

People Want to Brag

Smoking Man at 291 absolutely nailed it. Apparently people can’t wait to brag, but do wait for an official invitation to do so.

I would join the fun, but then I already have many times and never waited for the invitation.

#659 Jeff on 06.20.14 at 12:38 pm

(a) Rent
(b) 85 k
(c) 35
(d) -20 %

#660 Dean on 06.20.14 at 12:38 pm

a) Own (in Vancouver, oh god)
b) Single with 100k salary
c) 33
d) Impending 20% haircut

#661 Lagavulin on 06.20.14 at 12:39 pm

a) Rent for $1750 not including utilities, Downtown Toronto (sigh)
b) $130 K
c) 27
d) Hoping for 25-30% crash in TO condo prices but don’t think it’s going to be that drastic. Everyone wants a pie in the sky. Expecting 10-15% within 2 years.

#662 Van Coffee on 06.20.14 at 12:47 pm

A. rent. $4,500 in Vancouver. 2.5 million SFH
B. 450 – 500K between the two of us depending on bonuses. 450 is the base.
C. 36 & 36 & 2 & 4 (2 & 4 year old need to start contributing a little more ….)
D. Total Free Fall. When people like me aren’t buying, what is supporting the top-end?

#663 Musty Basement Dweller on 06.20.14 at 12:47 pm

a) rent. loving it. used to live on vancouver island. now in vancouver, montreal, and colombia. making much more money from investments instead of being burdened by housing and loving it.
b) $170k
c) 57
d) 30% drop over 3-4 years is a no brainer

#664 J_Dub on 06.20.14 at 12:50 pm

A) Rent (in Toronto), own rental property (via LOC) in USA
B) 150K ish
C)33, 29
D) In the next 3 years there will be a 20-30% drop in suburban areas and 15-25% urban ones. Again this all depends on if there is no other major economic shocks or slowdown. Coupled that with how the CMHC is positioning itself for the inevitable and what the big Owe isn’t presently doing but may be forced to do.

Joe Oliver says housing market needs no intervention

IMF warns on house prices in Canada and elsewhere

#665 rc on 06.20.14 at 12:50 pm

1) rent
2) 200k +
3) 26
4) will not be buying in the near future thats for sure

#666 sammy on 06.20.14 at 12:55 pm

Prozac Poloz still high on screwing Canadians even in the face of facts that prices are skyrocketing. Hey …douchebag….get your foot of the brake before more Canadians go hungry !!!! We don’t produce enough food in this country and have to import a majority of our consumer products…..your union buddies don’t give a crap…but how about all the families who are sending their kids to bed hungry…don’t they vote?


Harper…you need to juice the revenues with resource exports……drive the antiquated unions into other endeavours….like oil field jobs…….the dollar should be on par with the pound….not the Malaysian Ringitt.

#667 What about CMHC? on 06.20.14 at 12:55 pm

a – own (no mortgage)
b – 150k
c – 48
d – 50% drop in Cowtown – in last 10 years it has gone up 100% (thanks to CMHC, Carney, F, Realtors, Brokers, [email protected]….) here so it will need to drop only 50% to get back to that level. YaaaHoooo (stampede is just around the corner)!

#668 D.D. Corkum on 06.20.14 at 12:56 pm

So far the word ‘Rent’ appears in the comments 471 times, and ‘Own’ appears 486 times.

Maybe I’ll put together a little script that parses all the comments to pump out the statistics.

For myself:
A) Rent, but will own starting in a month
B) Married, approaching 100K
C) 27
D) Prices will keep increasing for another year (unfortunately), but the long term trend will reverse once rates rise. When it happens will depend on the USA.

#669 devore on 06.20.14 at 1:04 pm

#291 Smoking Man

Wow, you’re such a rebel!

#670 The American on 06.20.14 at 1:04 pm

1) Own in: Seattle, WA, Bend, OR, Orlando, FL, and Malaga, Spain. Bought at the “bottom” in each of those markets, after watching them distentigrate on average of 36% collectively. Only have monthly payments on the place in Seattle.
2) $ I make enough
3) 38 years old
4) Real estate is local to it’s market and also subject to regulatory changes happening within each country, specific to trasnparency to information and lending policies. For Canada, there will be a 17% decline in prices over two years, and nearly 30% within four years.

#671 Sue in YYC on 06.20.14 at 1:06 pm

Well ok since we are all sharing! Very interesting…
Own multiple prop, bought before 2003. No debt, residence worth the second least of all properties.
~200000 household
Late forties
Thought 20 to 30 % decline, and higher interest rates 5 years ago! And now after reading all the comments about everyone hoping to buy after the crash, prob flat until interest rates go up,but dont think thats gonna happen anytime soon. Been in AB long enough to know a bust WILL happen, hoping im young enough to sell in the next boom! Dont want it all in stock market or banks thats why i keep. Getting parents ready to sell.

#672 armpit on 06.20.14 at 1:08 pm

As the herd follows, Garth….did you answer your census?

#673 Paul W on 06.20.14 at 1:14 pm

own 100 %
Can’t see how it will work out well for everyone

#674 Old Man on 06.20.14 at 1:23 pm

#641 Adriana Lima – I agree with you 100% and yes a plastic surgeon rakes in $millions because he sets his own fee structure and cleans up. Well at least my posting was an honest one as have nothing to brag about with my modest monthly budget.

#675 Retired WI Boomer on 06.20.14 at 1:27 pm

WOW fascinating results! Everybody’s situation is different, and everybody’s RE prognostications ARE different. WE can’t be all correct, but we will ALL get to see what the future beholds.

Garth, good idea, great responses.

Hope the info provides some insights into ‘who, what, why, where’ the blog dogs are composed (or composted) of. Fun idea

#676 MoistVirgin on 06.20.14 at 1:28 pm

A) Parents’ Basement
B) 65k
C) 23
D) 20% correction over 2-3 years

#677 Smoking Man on 06.20.14 at 1:29 pm

#622 Joe2.0 on 06.20.14 at 11:21 am

Smoking Man

Where can you make that amount of money making licence plates?

You sell a house and cottage, then put it all on a bet that the markets hit bottom, Feb 2009.one month into the rally, you go full out margin while in a drunken stupor … Then in April 2011 when you see a solid batman you exit…..

Event a text inscription tool that’s ready for market, just as Snowden goes public…

Have interests in small growing private companies.

The tax farm gig is only for casino loot and keeps me off the bottle.. During the day.

#678 Ryan the Thirtysomething on 06.20.14 at 1:34 pm

a) happy renter
b) 100k household
c) 33
d) No idea anymore. I thought the RE gasbag would have deflated long ago, but Canadians continue to amaze me in their dedication to pile on more and more debt.

#679 RM on 06.20.14 at 1:38 pm

a) own (virgin)
b) $100,000 single income family
c) 32
d) 10-15% correction in greater Montreal.

#680 lala on 06.20.14 at 1:39 pm

Interesting, blog dogs are married to same age wife’s, what’s is wrong with you guys,
don’t you like fresh meet!!!

#681 Dustypancakes on 06.20.14 at 1:46 pm

(a) own (b) 80k (c) 24 (d) it is different in ottawa

#682 Fluorine on 06.20.14 at 1:48 pm

1) Own 2. Rent one out. Wife won’t let me sell either one.
2) 100K
3) 39
4) 20% correction. Hopefully not too bad in Alberta.

#683 S Surette on 06.20.14 at 1:49 pm

1. Own – condo , vancouver
2. 80k
3. 46
4. 25% correction

#684 Holy Crap Wheres The Tylenol on 06.20.14 at 2:12 pm

(a) own X 2
(b) family income, $215 K income $35K expenses combined with signicant other $335K
(c) age 64
(d) real estate over next 1-2 years. Canada flat then down 15-18% USA Flat to increasing 2-5%.

#685 Getting out of Dodge... on 06.20.14 at 2:17 pm

Owned SFH, cottage and mexican casa. Just sold the SFH and will be living in the cottage/casa going forward.

Used to make $200,000 (couple), voluntarily reduced to $100,000 in the past year (working much less these days)

56 and 53

Total crapshoot!

#686 y m o 2 on 06.20.14 at 2:22 pm

dual specialist MDs
took forever but finally starting to accumulate dollars

#687 TheCatFoodLady on 06.20.14 at 2:26 pm

#680 – lala: Why would the wives want someone older? We like our meat before its, (relative), best buy date too.

#688 cat luver on 06.20.14 at 2:26 pm

a) have always rented (Toronto, 2 min from subway, super affordable)
b) $50k avg now, self employed
c) 57
d) inevitable correction, more quickly and sharply for condos

Thanks to your sage advice over the years that I’ve been following this blog, and that I’ve read in your excellent book Money Road and elsewhere, I’ve recently moved my investments from one of the big banks to a discount broker. All very empowering.

#689 Holy Crap Wheres The Tylenol on 06.20.14 at 2:36 pm

#677 Smoking Man on 06.20.14 at 1:29 pm
#622 Joe2.0 on 06.20.14 at 11:21 am

Smoking Man
Where can you make that amount of money making licence plates?
………………………………. …….

You sell a house and cottage, then put it all on a bet that the markets hit bottom, Feb 2009.one month into the rally, you go full out margin while in a drunken stupor … Then in April 2011 when you see a solid batman you exit…..

Event a text inscription tool that’s ready for market, just as Snowden goes public…
Have interests in small growing private companies.
The tax farm gig is only for casino loot and keeps me off the bottle.. During the day.

Jesus Christ Smoking Man Ive been to a Casino once and blew $100, released I can take that $100 and make it turn into $200, then $300 ………….. and so on. Why not just get dry and keep the daily money for more investments? You could retire a millionaire with trophy wife number one and trophy wife number two dangling from your side?

#690 xnexus on 06.20.14 at 2:37 pm

1) Own – Vancouver townhouse
2) 250K (combined income)
3) 40
4) As Garth has said in the past, a 15-20% slow melt over the next few years.

#691 My Life is a Pile of Shit on 06.20.14 at 2:37 pm

Statistically, 99% of Canadian households earn less than $100k per year. The median annual income for BC households is only $69k. Yet virtually the entire readership of this blog earns more than $100k per year (based on this survey). That implies this blog is read only by the top 1% income earners of the population. The average reader is 30 years old, earns more than $100k per year (at least $200k per household), and rents a house, maybe a basement, maybe with roommates. Should this blog be written for the average Canadian or for the financial elite? I, for one, will see this blog as less relevant, now that I know it must be geared toward the top 1%. After all, numbers don’t lie, do they?

Silly POS. This blog is just geared toward me. — Garth

#692 Jenn on 06.20.14 at 2:38 pm

So now you can see that it isn’t the immigrants are hiking up the prices after all!! We long timers are doing very well. Just a thought….does anyone think that these wages might be the reason why costs are out of control? I feel the pain of someone making the “Stats Can average. I know we would have a tough time on the roughly 70,000/yr family income. OMG!!

Anyhow, for all those who having a pity party…don’t !!
For our piece of the pie we had to give up a lot and work a whole lot more. We didn’t just rise to the top. We fought for every inch and I am seriously exhausted!

#693 Old Man on 06.20.14 at 2:40 pm

#686 Getting out of Dodge – have you ever rented out your casa (house) for just one day in the past? SAT will be checking up on you – good luck!

#694 Asher on 06.20.14 at 2:41 pm

(a) Rent
(b) 33 and 34, both working
(c) $150K + bonus
(d) Most of Canada – will stagnate or continue very slow decline
Toronto, Van, Calgary – Will continue to rise through 2015. Then will start decline in later 2015. Will drop max 15 to 20% in T.O. and Vancouver.

#695 vip_begger on 06.20.14 at 2:43 pm

1) Own house

#696 Brysonic on 06.20.14 at 2:43 pm

a) Own (Vancouver)
b) $275 k
c) 47
d) 10% correction for Vancouver, 20% nationwide

#697 chillysun on 06.20.14 at 2:44 pm

1) Rent apartment in Montreal
2) My income 220000$ before taxes….
4) around 30% which will cream the middle class…

#698 Hawk on 06.20.14 at 2:50 pm

#530 Joe on 06.20.14 at 8:48 am


I would rather think most of the people here are not representative of average people in Canada, maybe this blog attracts the “1%” crowd more.

Certainly average income even in Toronto is nothing like what people here make.

#699 CrispyKdizz on 06.20.14 at 3:00 pm

Own a 44 year old Condo.
Engaged: 30 & 34.

The Alberta economy won’t waiver for a couple years (hopeful). Correction: modest 5%/year for 5 years. Likely more (25-30%) in that 5th year. Calgary will be hit last, because we’re just THAT special.

We were hit with Garth’s predicted assessments: last year $12,000 and the year before $8,000. All for “underground water treatment and electrical” – upgrades we’ll never literally see, but apparently “enhance the quality of our investment”. All I’ve see is the poor sap with a torn up yard and back hoe permanently parked out his front door for the last three months; at least he’s a renter!

It took the better part of this year to convince my in-laws why I won’t sell to “move-up” turning our equity into debt: mortgage-free by 40.

Keep writing your good words, Garth. I’ll keep standing up to those Boomers and relentlessly talking my friends out of buying in the next 5 years.

#700 Fortune500 on 06.20.14 at 3:01 pm

As always, I am sure there is some exaggeration going on here due to the anonymous nature of this forum, and of course, the higher incomes could be a result of those earners being more willing to step up and share their digits. But with that being said, you cannot help but wonder whether or not this site has attracted more readers who actually do their homework, and who actually have the cash to justify paying for real estate.

If you are low income there is often a reason for this (lack of education, lack of drive, lack on interest in research and doing due diligence, etc.). I come from a poor family situation, so do not think that I am being snide. It just makes me wonder whether Garth attracts a more financially literate, or at least financially aware crowd than the MSM does with their CREA press releases.

The median household income for Canada is $76,000. Garth’s readers appear to be a different group. At least those willing to post.

#701 lionsroarin64 on 06.20.14 at 3:04 pm

A. Own (just paid ‘er off – 2-bedrm condo 1/2 block from Stanley Park – carry me out in a box).
B. Income: 72K (man I feel like a pauper compared to a lot of u).
C. Age: 50.
D. Crystal ball: 25% correction for Vancouver – can’t say ’bout elsewhere.

#702 Mak the investor on 06.20.14 at 3:06 pm

a: rent
b: 120k
c. 40
d. Flat. to 5% down But there would substantial inflation. Eventually inflation would catch up with real estate. When I say inflation, I mean the weekly grocery bill and Not the metrics that is published.

#703 Findizzle on 06.20.14 at 3:06 pm

a) Rent (Calgary)
b) $80k single
c) 23
d) 15% correction

#704 rico suave on 06.20.14 at 3:06 pm

A) rent in Toronto
B) $325k + bonus
C) 26
D) who knows

#705 countrymusicfan on 06.20.14 at 3:14 pm

Rent in Toronto, own small farm acreage

79K + 55K

45 both of us

We see Toronto down 5% soon – 120 days, end of fall market will be the swan song. Then another 25% down by 2017

In the country is where we see real pain already. Rural and cottage properties near ours are not selling at all.

Anyone with a cottage that they have to sell, get ready for a 50% haircut FAST, by 2016.

#706 Albert_bound on 06.20.14 at 3:17 pm

a) rent
b) 0$….I’m an engineering student
d)20% in the big markets (Van, TO, Cal,). And I think the correction has already begun in the smaller markets, ( Kelowna, Victoria….etc.) bottom out around same point I’m guessing….

#707 JR on 06.20.14 at 3:17 pm

Rico Suave, what’s your job?

#708 Calgary Rip Off on 06.20.14 at 3:18 pm

1)Own a mortgage. The bank owns the property. That’s reality. You dont own unless its paid. Period. That commercial “homeowners helping homeowners.” Right. What a joke.

2)$140K/year and rising.

3) Age: Not telling. The internet was designed by the department of defense for data tracking. Think about that if you have facebook or any other nonsense. Big brother is watching. My soul is immortal and saved.

4) If you can afford to own a mortgage, get one. Rents are a ripoff in Calgary and worse than mortgages. Unless you are gonna retire in 5-8 years or want to be portable, get one, cause prices keep goin up as awful as it is. And interest rates are low. Expect to be ripped off for housing, buy rent or own. Its all bs.

#709 leaveyouregoatthedoor on 06.20.14 at 3:26 pm

“The median household income for Canada is $76,000. Garth’s readers appear to be a different group. At least those willing to post.”

Was there ever any doubt?

I am impressed at the number of 200k+ blog readers but not to the point of calling everyone a liar; my old high school friends earning less than 50k would never, ever, ever, read a blog like this.

Those who think every income is a massive exaggeration should look in the mirror, 65k each x2 people isn’t an exotic elite lifestyle; 130k / yr gross, who cares?

#710 Uh Oh Canada on 06.20.14 at 3:27 pm

Wow, I am among the 1%- only happens in a pathetic blog. I guess a good 80% of salaries here are true because an investment blog would attract readers with money.

1) rent a townhouse, never owned

2) self employed last year was 90k, one income family
50k in investments

3) 35

4) Real estate has already declined here by about 10%, I’d say. Self employed friends with businesses related to housing are seeing less business this year, so I believe the drop begins as of now and will be notable by 2015-16.

#711 Anthony on 06.20.14 at 3:27 pm

Immigrated to Canada(Toronto) 14 years back, from India, with $10,000 to my name a wife and a one-year old kid
Today my networth is $350K (not incl my fully paid condo of $250K), The reason I don’t live in a house, is b’coz I want to live in Toronto and I can’t afford it. Although the bank think I can, I think the banks and the real estate agents are scamming people and hence I love reading this blog

#712 GTA Engineer on 06.20.14 at 3:27 pm

Already replied under an alias. Over 700 comments?? And sheesh what a lop-sided sampling of the ladder we have here. A good 75%+ of the responses appear to be from the top-10%’ers.. I guess my bartender doesn’t read these types of things?

#713 London ON Man on 06.20.14 at 3:30 pm

a) Own in depressed (and depressing) Southwestern Ontario
b) $180k
c) 50
d) For major markets, Next 1-2 years = rise of 10%. Next 5 years = 40% haircut. For crappy little markets like London, ON, Next 1-2 years = flat (again), Next 5 years = 20% haircut.

#714 K Smith on 06.20.14 at 3:31 pm

-Gen Y
-45k (me), bf after graduation add 80-100k
-25% correction over a couple years. In our area talked to family friend, longtime in local RE field. Said prices have stabilized and had a small drop so far. Majority of current sales are by households due to divorce.

#715 ydizzle on 06.20.14 at 3:32 pm

a) rent in Ottawa
b) 180K family
c) 28
d) 15%-30% correction over a long period. Do not think there will be a fast crash, but rather a slow long decline. Don’t see any change until interest rates go up.

#716 Uh Oh Canada on 06.20.14 at 3:35 pm

Oops. When I say among, I mean in company with the 1%. I proudly do not claim to be part of Garth’s circle.

#717 Wiggleroom on 06.20.14 at 3:39 pm

A) own
B) ca. $360,000
C) 41
D) I’m expecting there will be a 20% or so correction in the next 2-5 years. (I live in Toronto.)

#718 Steve French on 06.20.14 at 3:40 pm

A) Rent
B) $100 K ($AUD)
C) 41
D) Australian real estate is going to b-u-r-n baby burn. Holy crap things are weird down here!

ps: and an apprentice Smoking Man.

#719 A440 Hertz on 06.20.14 at 3:41 pm

a) rent in St John’s NL, why buy?
b) 75k
c) 58
d) 30-50% crash

May not be so bad in St John’s for a while since oil and mining doing well. At least we have something to sell. Very little real estate data to go from since we don’t show up in many stats. Living here is the best kept secret in Canada. Great scenery, good food, friendly people, lots of entertainment and local beer.

#720 AKN on 06.20.14 at 3:46 pm

a)Rent in Richmond, Vancouver
b)125K (family income)
c)34, married,one kid
d)No idea

#721 suede on 06.20.14 at 3:48 pm

#691 PoS

Maybe the 99% are too dumb to read the gems that this blog gives away for free.

Their problem.

This blog provides a kick in the ass, not hand holding

#722 Rosco P. Coltrane on 06.20.14 at 3:54 pm


155K (two incomes)

41 and 39

20% average drop nationwide

#723 Joe2.0s evil twin on 06.20.14 at 3:56 pm

#677 Smoking Man on 06.20.14 at 1:29 pm
#622 Joe2.0 on 06.20.14 at 11:21 am

Smoking Man
Where can you make that amount of money making licence plates?

You sell a house and cottage, then put it all on a bet that the markets hit bottom, Feb 2009.one month into the rally, you go full out margin while in a drunken stupor … Then in April 2011 when you see a solid batman you exit…..
Event a text inscription tool that’s ready for market, just as Snowden goes public…
Have interests in small growing private companies.
The tax farm gig is only for casino loot and keeps me off the bottle.. During the day.
Smoking Man the better question is did you actually own the cottages? Mortgage insurance against real estate guys like you!

#724 Old Man on 06.20.14 at 3:59 pm

#689 Holy Crap – when I go to the casino am a big spender rising to the whale status with the pit bosses. I play the quarter slots and once $20.00 is gone that is it for me looking for a free show. I guess that makes me a minnow fish when all is said and done. :(

#725 Tdot on 06.20.14 at 4:02 pm

A:33year old male
B:own for the 2nd time sold the first and re-bought 2009
C:portfolio worth about $210000 managed by a professional
D: no debt except mortgage
E:reside in lower mainland
F: average yearly earnings $68000

#726 Depressed in Victoria on 06.20.14 at 4:05 pm

a) Rent
b) approx $70K net family income
c) 50ish
d) Only if prices drop like they did in the States when their housing bubble burst and we both still have jobs

#727 Danforth on 06.20.14 at 4:14 pm

a) Own – mortgage free
b) 108K
c) 42
d) Reduced rate of increase, or flat. But i’m in desirable Danforth in To. No reduction in this subway-walkable area.

#728 Dominoes Lining Up on 06.20.14 at 4:17 pm

Own a condo (bought in 1996, don’t care what happens)

Income is $77,500


Toronto condos down by 25% by 2015, SFH in the best areas down 15-20% by 2016 and no growth in either for at least a decade.

Suburban real estate down 30-40% by 2016

#729 Patient in Vancouver on 06.20.14 at 4:22 pm

(a) Renting
(b) $200k
(c) 31
(d) Flat to 15% decrease over next two years

We started saving for a down payment years ago, anxiously waiting for a crash. It hasn’t come, so we now have $250k+ and growing in a balanced portfolio, and have grown more apathetic about real estate. If a crash never comes we’ll just keep saving. Maybe one day we’ll buy a $1 million home for cash. Or maybe not.

#730 sweetbabyJ on 06.20.14 at 4:23 pm

A) Rent (Calgary)
B) 75K, 130 combined
C) 30
D) 15-25% correction somewhere late in 2016; followed by a slow bleed and maybe another 15 years to a ‘recovery’. HELOCs, credit cards and inflation in food are going to kick the regular folk in the pants. I know what it is to be overextended, and let me tell you the denizens of Calgary have a serious case of that on their hands.

People are buying the same s*** they were making post WW2. Garbage homes. Same boneheads who needed 3 spare rooms they use once every 2 years complain about $600 energy bills in their ‘efficient homes’.

No passive solar. No active solar. No solar hot water. No geothermal. Crappy windows. No thermal mass. Crappy insulation and air leakage. Turbines aren’t realistic for these McMansions that are crammed together. If you want to hear your neighbors’ dinner conversation they’re great for that though.

Your house is 3000sqft? Great. You can’t be bothered to unpack the stuff you dragged out of your last home or rental. Clearly you needed the space.

I genuinely think that most people fear discomfort; and societal conformation gives them the comfort they seek. Buying a house is the easiest way to get the nod. Comfort and atrophy are easier than evolution and growth (not inflation).

Regardless, I cannot speak for every illogical longing of the majority of humans. Perhaps it’s a lack of education and perspective. Perhaps people haven’t *gasp* been using the internet to seek alternatives to their current (very limited) knowledge base. So it will fall apart; and we will all suffer, but not equally. I don’t play the same game as the rest though, so I suspect I’ll do better than most. If not, I guess I’ll have a new learning opportunity. Garth help us all.

#731 DJG on 06.20.14 at 4:25 pm

It’s funny to see so many in total disbelief at high incomes. There is a lot of poverty in Toronto because that’s where the bulk of the jobs and the subsidized housing / rental housing in general tends to be. This poverty dramatically skews the income stats. The City of Brampton has a higher average income than Toronto, but obviously there is far more wealth in Toronto than in Brampton. Average household income in Forest Hill is around $480k, for example, whereas in the Castlemore area of Brampton (the richest part, where the grotesque mansions are), it’s $135k. Affordability, if that term can even be used in this context, is ironically much better relative to incomes in some of the most expensive parts of Toronto compared to the ‘burbs.

#732 Jay on 06.20.14 at 4:47 pm

A) Own
B) 70 K
C) 44
D) 40 -60 % Correction in next 5 years.

#733 cash hater on 06.20.14 at 4:51 pm

Holy sh*t, close to 1000 comments today huh.
I think you’re a lot more popular than you give yourself credit for my boy.

#734 Daniel on 06.20.14 at 4:52 pm

a. rent, b. 200k, c. 34 d. YVR -35% in 5 years against inflation so maybe 28-30% real dollars. Nationally, I’d say 10%-40% through the average will probably be around 20%

#735 Frank hugcsley on 06.20.14 at 4:52 pm

Own in south surrey
+\- 5%
Long term outlook: ????

#736 Oakvillain on 06.20.14 at 4:56 pm

a) Rent (SFH in Oakville, ON for $1425/mth)
b) 80k/yr until recently (1 income, wife is stay at home mom.)
c) 35
d) No idea, when I was 30 I thought I had it all figured out…then what I thought did not transpire..so now I have come to realize that I know nothing. But if pressed, I’d parrot the sensible minds who think there will be a regression to the mean…but who knows! What does sense have to do with it? We are all operating with incomplete information (some more incomplete than others granted.)…and what you don’t know can completely undermine your entire analysis.

#737 Truck on 06.20.14 at 4:56 pm

(a) rent or own, (b) family income, (c) age and (d) your outlook for real estate over the next one or two years.

a) Rent, 0 debt
b) 150,000
c) 31 & 25
d) 15% drop

#738 RM on 06.20.14 at 5:22 pm

(a) Own
(as of this month…waited for the longest time..rent has inched really high this summer in Edmonton, a lot of people came this summer from toronto and BC, I think u predicted this about toronto last year..about people selling and leaving the city).
(b) 95000 family income
(c) both 37
(d) No change for another year and then 10-15% drop

#739 YYC'er on 06.20.14 at 5:28 pm

I mentally checked off most of the items on your list, before getting to the actual questions.

I guess that makes me “OK, Normal”

#740 Darklan on 06.20.14 at 5:30 pm

Gen X both
20% down

#741 cash inseminator on 06.20.14 at 5:38 pm

Inflation in today @ 2.4%…….. and loonie shoots higher.
What does that mean on interest rate front ???????

#742 Joe2.0 on 06.20.14 at 5:41 pm

If we all poole our money we can buy a place in Van.

#743 Liar liar pants on fire! on 06.20.14 at 5:42 pm

A bit dated (2011 tax year) but still the latest posted by CRA – income tax statistics:

26,333,940 total numbers of returns – 17,429,010 taxable and 8,904,930 non-taxable;

Returns with total income above 50k – 7,405,790 returns with lucky 36,630 of them “non-taxable” and in details:
50k-55k – 1,000,620 returns (top 28%-ters)
55k-60k – 855,870 returns (top 24%-ters)
60k-70k – 1,394,010 returns (top 21%-ters)
70k-80k – 1,064,790 returns (top 16%-ters)
80k-90k – 780,730 returns(top 12%-ters)
90k-100k – 574,460 returns (top 8.77%-ters)
100k-150k – 1,107,970 returns (top 6.59%-ters)
150k-250k – 414,890 returns (top 2.38%-ters)
over 250k – 212,450 returns (top 0.8%)

Now look at the other side – CANSIM table 282-0011
As of Dec.2011 (matching the income tax stats from above) Canada had:
17,271,700 employed people and from them:
14,597,700 employees and 2,674,000 self-employed

Further the 14,597,700 employees are divided into:
3,579,500 – “public sector”
11,018,200-“private sector”

So I am not sure why the numbers are not to be trusted as it is very easily for a couple of “public” servants to crack the 100k+ family income and couple of teachers with 10years+ in the grid to hit 180k+

#744 YVRYuppie on 06.20.14 at 5:49 pm

(a) Rent
(b) Me, $75k. Partner (whom I live with), $65k.
(c) 26, 25
(d) At our age I wouldn’t want to be tied down either way, but I think it’s bound to correct in Vancouver over the short-medium term.

#745 Nathan on 06.20.14 at 6:04 pm

A) rent principe residence, also own a condo I rent out. Bought it in 2007 on the advice of parebtal units and no understanding of real estate.

B) 130,000 gross

C) 28

D) Hoping for a crash (I’m under water anyways, so to hell with it). I think it’ll be somewhat regional, but a correction across the board.

#746 Senta on 06.20.14 at 6:10 pm

Looks like I am the only mangy cur reading this pathetic blog in this sea of purebreds!

#747 debtified on 06.20.14 at 6:15 pm

(a) Rent
(b) $148.5K + Bonuses + Stock Options (Single)
(c) 39
(d) Down (Just like Japan)

Garth, thank you for the education and for helping us keep the sanity.

#748 Surprised by all the surprise on 06.20.14 at 6:20 pm

I’m not surprised by the incomes stated here, but I’m a little surprised by the people who are surprised. Who did you think was reading an economic blog written by a financial advisor who’s bearish on housing? Did you really think the readership would be an average cross-section of Canadian society? Or would it tend to be above incomes with above average education and an above average number of renters? This isn’t Facebook. It appeals to a very specific (and predictable) demographic, as the information given in the comments has confirmed.

#749 Jackie Treehorn on 06.20.14 at 6:23 pm

a) Rent
b) $265K, single
c) 45
d) No idea

#750 big25 on 06.20.14 at 6:25 pm

1. rent in Toronto. 2. 160k 3. 30 4. 30% correction

#751 A box in the sky on 06.20.14 at 6:27 pm

Been lurking this blog ever since seeing Garth do a presentation on housing during his book tour at the Chapters near 401/Kennedy in Scarlem. 2010 ish?

a) rent – pay 1300/mth for a condo that would cost ~ 380,000 to buy … yeah that’s Toronto

b) 125k not counting investment income

c) 34

d) SFH in Toronto – probably up 5-10%, condos in Toronto flat to down 10%

A couple of things

1. I feel really inadequate reading all of the 150k+ earners in their 20’s and 30’s! Really lol that the median income posted here is over 6 figures.

2. Putting on my retrospectacles, not buying a house in Toronto once entering the workforce after university was a huge mistake. Especially since I had no student loans to pay off.

Now I kind of feel like I’m spinning my wheels – house prices are out of control relative to rents, but there’s an endless stream of buyers in this city. I just don’t see myself buying unless I get married.

3. The studies that show peoples definition of “rich” increases with increasing salaries is so true …. I feel like I’m part of a ridiculous rat race in the GTA.

#752 raisemyrent on 06.20.14 at 6:28 pm

oo, almost missed it.
(a) rent in Downtown Vancouver
(b) 80,000-100,000 (1 person)
(c) 30
(d) 25% initial crash followed by an additional 15% over a few years

#753 CalGareeee on 06.20.14 at 6:32 pm

1. Rent
2. 160000.00 gross (one income family 3 kids)
3. 39 and 37
4. holds steady and possibly still climbs on a mini boom speculation but 15% decline 2016 start.

#754 I'm stupid on 06.20.14 at 6:35 pm


#755 Lolo on 06.20.14 at 6:35 pm

A) Rent current digs, also own a rental property
B) variable, 130k-170k
C) middle aged
D) In Vancouver, it *should* go down, but when? Thinking next year or two to be flat, then downhill 40% after that. Gawd, even 40% off a 1M East side dump is way overpriced.

#756 Long time reader, first time poster on 06.20.14 at 6:37 pm

(a) Rent (from a friend’s aunt, well below market value)
(b) single $62k
(c) 26 female
d) 10% drop over the next 5 years. Personally have no interest in buying ever for lifestyle reasons; wishing the house-rich, cash-poor retired parents would unload the 5,000-square-footer and enjoy their money before I end up inheriting the monstrosity.

#757 portmoodyite on 06.20.14 at 6:37 pm

b-100 k
c-59, retired

#758 Nemesis on 06.20.14 at 6:46 pm

#IKnowWhichDogSmokingManIs! #ThirdRow. #JustBelow&BetweenTheDalmatian&ThePoodle.

Seriously, that tongue is, like, a signature SM ™.

#759 waiting on the west coast on 06.20.14 at 6:52 pm

Rent older home on an acre in Vancouver suburb ( $1900 rent versus $3500 ownership cost)
Varies (100k-500k – driven by business acquisitions)
48 (42, 18, 16, 8)
I found market overvalued in 2003… Led me to buying binge on businesses… Lucky mistake but wish that I wasn’t so logical… Could have made some significant $$$ on the local RE market as well…

#760 South Surrey Renter on 06.20.14 at 7:06 pm

(a) Rent 50 year old 3000sqft country home on 3 acres 40 minutes from Van for 2K/mo
(b) 150-200K
(c) 40, 39, 7, 5, 3, 2
(d) Maybe down in the next couple years, maybe flat. Don’t see much more room for increase in the next 10 years. Don’t care either way. We love the country living and financial freedom of renting. Replacement digs currently valued in 7 figures. We will happily rent until it makes financial sense to buy. If that’s never, so be it.

#761 cmccullo on 06.20.14 at 7:11 pm

Aww, you never ask for anything, Garth.
a) Rent
b) 140K – family income – although depending on the declining fortunes of high tech industry
c) 43
d) live in Ottawa, so lots of stagnant inventory right now. Slow deflating balloon.

#762 Sideline Sitter on 06.20.14 at 7:24 pm

T.O. Bubble Boy — I think we’re one in the same. Cheers.

#763 nonameforme on 06.20.14 at 7:31 pm

a) rent (1200/mo bby)
b) married 2 kids, 50k (wife doesn’t work)
c) 30 something
d) One or two years? I wish for -50%+, but I could easily see prices jumping by +20% because everyone’s so stupid and unless we have a natural disaster, nothing will stop the train. Over a longer trend like 10 years, definitely 50+%

#764 LH on 06.20.14 at 7:36 pm

My turn!

A) I own seven SFH’s in downtown Toronto (M5T and M5R), 3 detached and 4 semis.

B) Total CAD 1.5 million or thereabouts. My salary income of CAD900k (which has held steady over 2011-2013). This year I got promoted, and on track for wage slave renumeration of CAD 2 million for 2014 including bonuses.
I am a trader at an investment bank all of you have heard of. Also, I am a rentier, with investment income of approx CAD600k.

C) My wife and I turned 30 this year
Our four kids are 5, 4, 2 and 0
Wife stays at home to look after family (her job is
tougher than mine!–none of this would be possible
without her)

D) I am still very bullish about central city SFHs (C01 and C02), and I am putting my money where my mouth is (more than C10million of exposure in this asset class). My guess is for another 10%-20% increase in my portfolio over the next 2 years. 905 and condos may be flat or even 10% down, however. Why? Simple, supply and demand imbalances.


#765 west coast on 06.20.14 at 7:39 pm

Rent in Vancouver
Own somewhere else!
prices for SFH will stick in Vancouver and then fall slowly- incomes will go up – prices will continue to reduce for older (15 year + condos) -especially when people start to read/understand depreciation reports and figure they will probably be kicking in an extra 70,000 – 100,000 for repairs ……

#766 Herb on 06.20.14 at 7:42 pm

OK, Garth, now let’s have the statistical analysis of the kennel. With 762 replies you won’t even have to rely on small sample theory.

Feel free to crunch the numbers. You’re retired. — Garth

#767 H. in BC on 06.20.14 at 7:48 pm

A) Renting since 2010, $1,300, 4 bedroom nice BC Box, in Eastern Fraser Valley, great landlords-The longer we rent the more we like it.
B) 70’ish k, one income mainly
C) 45, 51(husband) + 3 teenagers (one financially self sufficient)
D) It’s been stagnant here for a few years already, seems to be dropping, especially town homes. Otherwise I have no clue, gut says a general down trend overall for a long time.

#768 Mediabuff on 06.20.14 at 8:36 pm

1) Own a home (Ottawa), and a cottage (Muskoka). Trying to convince parents to sell their home (TO).
2) $180K income, plus there’s always money in the banana stand
3) 40, 39, 8, 6, 4, 1
4) 10% correction in 1 to 2 years. 30 to 50% national in suburbia/exurbia over 5 years in real terms. A few hot areas in TO and Van might only stagnate. But for most, this will end in tears.

#769 James Kitchener on 06.20.14 at 8:41 pm

Canada 34.5 Million people, of those 24.5 million
Filed Income tax.

8.3 Million do not pay any tax!!!!!!!!!

18 million earned under $50,000 Yikes
and another 5 million between $50K to 110K
Therefore, 23 million of 24.5 million people earn under 100,000 or 95% of all Canadian income tax filers
880,000 (3.5%) earn 100-150K
333,000( 1.4%) earn 150- 250K
174,000 (0.07)% (less than 1%) earn over 250
This blog
20,000 people a day
766 posts today
80-90% earn more than $100,000

#770 Against the tide on 06.20.14 at 8:41 pm

Although not earning the incomes above, I resent the assumption that those with lower salaries have no interest in trying to improve their financial knowledge. Despite good education and skills, ‘life’ can impact career paths. Many people attempt to combat this by living within their means and saving whenever they can. (You can have fun without a 6 figure income)
A)rent ( having sold 2 years ago- investing the $500,000 of appreciated value)
B)variable (self employed) currently $30,000
D down – no one knows!

#771 Tony on 06.20.14 at 8:52 pm

Re: #747 Surprised by all the surprise on 06.20.14 at 6:20 pm

Other than myself I don’t see a single reply from anyone who was born into wealth. From all the responses the young people are more apt to believe real estate will go up rather than down whereas for the older people the converse is true. Obviously real estate will fall in price and odds are real estate will be a lot lower a decade in the future than today.

#772 Dee on 06.20.14 at 8:52 pm

a. Rent
b. Single, ~$115k (I get paid in USD so it fluctuates w/currency, but it’s around there right now)
c. 32
d. One to two years is hard. I keep thinking it’ll go but then they find new ways to inflate the bubble. My guess is the new Minister of Finance is under orders to do everything to keep the party going (or at least the illusion of keeping the party going) until the next federal election. Whether or not he will find success, I’m not sure.

Longer term, down, then stagnation. I wouldn’t hold real estate in this country right now if you gave it to me (I’d sell it as fast as I could).

#773 Ging on 06.20.14 at 9:06 pm

$150k family income
10% correction in hamilton

#774 Small Business on 06.20.14 at 9:06 pm

A: Own

B: 170k. 1 income.

C: 34

D: Another boom for Alberta. But housing prices will remain the same or slightly higher. Because — it’s alberta man. Plenty of land.

#775 Fort Mac Flatlander on 06.20.14 at 9:39 pm

A: Rent, used to own but sold in 2011 for work purposes.

B: 250K 1 income

C: 33

D: 10% correction in Fort McMurray, 30% for back home (Saskatoon/Regina)

#776 Midlife on 06.20.14 at 9:53 pm

Own – no debt.
53 and 52
Live in burbs of Toronto. Hoping prices stay at same level for another 6 months so we can sell – then tent a small place with minimal upkeep

#777 Entrepreneur on 06.20.14 at 10:17 pm

a. own
b. about 40k
c. retired since 55
d. going down, down 50%
and more

Young people moving in the area: renting, no kids. Different era.

#778 GP on 06.20.14 at 10:32 pm

A) Own B) 250 K C) 36/38 D) 35% Vancouver (slow at first with a pronounced slump once it becomes obvious the trend is not reversing, with most of the damage being in the burbs and segmented to market type with condo owners taking a beating).

#779 Jack Bean on 06.20.14 at 11:04 pm

(a) rent or own,
Rent – 1240.00 per month –
Low rise condo 900sq ft 2bedroom +den Central air and full size in suite Landry

(b) family income,
75k Gross – Singe income

(c) age

(d) your outlook for real estate over the next one or two years.

I don’t know what might happen, but I hope that prices go back to the way they were in 2000-2003, prices seemed reasonable around that time.

Perhaps there is some truth in the “blood moon harbinger theory” which declares that financial ruin will come to us all on 09/13/2015. However, I think the markets can stay irrational for much longer than anyone can predict. I expected our housing market should have corrected in step with the US.. but look at us now, one big giant soggy bubble!

I bought a new build in Brampton in 2003 for 300K, I felt the price was too high and should have cost 280K.

I sold in 2010 for 540… I though to myself ” anyone who would pay 540 for this house would be a fool in deed”.. I wish the best to the family that liberated me from single asset hell..

Everything is too expensive now!!!
Inflation has eroded my buying power. My wage has been stagnant for 7 years due to off shoring, and the temporary foreign worker policy.

I am happy though, because I am debt free, and hold balanced ETF positions. It is a great feeling that I can be liquid enough to be out of work for a few years and not incur any debt.

Blog on Mr. Turner, Blog on…

#780 Dude Duderson on 06.20.14 at 11:04 pm

I don’t know about you guys, but I saw him say “family income” in his post, so for me for example, when I said “120k and married” I meant it’s our combined income. I make 90k, wife makes 30k.

That’s how I’m interpreting alot of these posts, as household income.

#781 Jonath on 06.20.14 at 11:10 pm

A)own house and recreation property
B)150 000
D)20% increase places like Alberta, BC and On 10% decrease. Alberta has the job

#782 T.O. Bubble Boy on 06.20.14 at 11:16 pm

@ #761 Sideline Sitter on 06.20.14 at 7:24 pm
T.O. Bubble Boy — I think we’re one in the same. Cheers.

Well – congratulations then!

Last 2 years have been incredible for non-salary investment returns… I’m always on the verge of saying “screw it” and buying some $1.XM house in Toronto, but it’s been great just sitting tight while piling up the war chest.

It’s going to feel amazing to buy a house in cash, and still have 7-figures left over.

#783 Happy Renting on 06.20.14 at 11:32 pm

#614 Bdy sktrn on 06.20.14 at 11:07 am

Among the non-doctors I know, those who pull in $100k by age 35 are in: finance, tech, sales, and entrepreneurship. Almost all work a sick number of hours, and the job/income security isn’t great. Still, it’s quite the achievement (I know, because I’m on the outside, looking in.)

#784 ya on 06.20.14 at 11:35 pm

120 – 140k per year
25 & 27
10 – 20% correction

#785 paolo jacuzzo on 06.20.14 at 11:40 pm

1-2 yr outlook: no idea
2+ yr outlook: 50+% correction in Vancouver
Many thanks Garth. Keep her lit big man.

#786 Buy When They Cry, Sell When They Yell on 06.21.14 at 12:11 am

Rent, will own in the winter (80,000 down on a $350,000 house)

Income: Me $122,000 – $140,000, Wife $40,000

Age: Me 29, Wife 25

Flatline or possibly up to 10% decline beginning in 3-4 years in Winnipeg, everywhere else I don’t know and I don’t care.

#787 Amazon on 06.21.14 at 12:34 am

a) Rent
b) $62,000/yr (in small town rural BC) Single mom.
c) 45
d) Fall of 20-30% minimum, to get things back in line with the norms…

Much cheaper to rent and continue growing my investments while my landlord subsidizes my lifestyle!

#788 EdmGuy on 06.21.14 at 12:49 am

1. own primary, rental, and trophy lot for future home
2. 400k
3. 38
4. Alberta slow and steady but big growth in premium properties. Van/TO will drop 10+

#789 Marie on 06.21.14 at 12:57 am

a) Rent
b) 60K household income
c) 33 & 34 with 2 young children. Live in small urban Saskatchewan
d) 20% Cdn average
e) 0 debt. 100K self-directed portfolio.
This is my first post. Regular reader since 2011. Cheers to more enlightened discussion and analysis.

#790 stage1dave on 06.21.14 at 1:37 am

Caught this one a bit late, oh well…

1) Rent (since ’98)
2) 60K plus or minus combined, wife has real job!
3) Married
4) Slow slide to 30-50% off peak prices

(barring military misadventure and/or major natural disaster. Of course, there is always the slim chance a sizable minority of the NA public will learn to add & subtract simultaneously, in which case we are truly doomed)

I should mention the wife & I carry no debt whatsoever & have a good amount of semi-liquid assets…like, stuff that would take a week or two to sell. Which we get to enjoy while we own it…

We enjoy living, period; not making payments to live!

Hey, we’re under 80K…do I still get to read the blog?

#791 Eftindexer on 06.21.14 at 1:46 am

A. Own
B. Family Income 85,000
C. 37
D. 10 to 15% loss in real estate

#792 Hickster on 06.21.14 at 2:05 am

1. Own (half paid, 250K to go)
2. $340,000 gross, single income, wife at home
3. 33
4. Here in Regina, stagnation and fall 1-2% per year. But since rents are ridiculous here with almost no vacancy, buying makes more sense for now even with falling home values. People in TO and Van are smart to rent though. We pay similar rents to them, but 1/3 to 1/2 the home prices.

#793 Overseas Canuck on 06.21.14 at 3:36 am

A) Rent
B) $123,000/year until recently when I left my job
C) 43
D) About a 25% average decrease (more in the condo market, less for SFHs) over the next five years.

#794 Tony on 06.21.14 at 4:33 am

Re: #707 JR on 06.20.14 at 3:17 pm

Everyone remembers Rico Suave, he was a professional wrestling manager around the mid 1980’s.

#795 Tony on 06.21.14 at 4:39 am

Re: #705 countrymusicfan on 06.20.14 at 3:14 pm

Most cottages have already fallen 50 plus percent over the last 5 to 7 years and as you say should lose another 50 percent going forward. Always look at the sane money first not insane money which would be cottage owners.

#796 Tony on 06.21.14 at 4:43 am

Re: 566 liquidincalgary on 06.20.14 at 9:47 am

Inflation in Canada will turn negative (deflation) going forward in the future. I would borrow and bet the farm on it. Commodity prices will implode which is mainly what Canada is based on.

#797 Steven on 06.21.14 at 7:38 am

DELETED. You are permanently BANNED for racist and homophobic comments. — Garth

#798 Herb on 06.21.14 at 9:59 am

“Feel free to crunch the numbers. You’re retired. — Garth”

Sorry, Garth, I’m also in the throes of an inter-city move and would not get around to crunching the numbers in my old-fangled, handraulic way for a couple of weeks. Maybe one of the more up-to-date-statistically blog dogs would accept the challenge. Aggregator?

It would be a great survey of the state and views of the relatively well-off portion of the middle class.

#799 Garth's Fave Amazon on 06.21.14 at 10:02 am

Regular reader since 2008 (at which time I was living in a basement)… first time poster!!!

a) Rent (I have since moved above ground)
b) $98,030 plus a small amount of investment income
c) 38 yo swf
d) As if I can tell… When I started reading I probably expected about a 10% drop, but I thought that would be in the distant past by now, and that peeps would have learned their lesson… Now, I’m thinking a 30% drop (I’m in central Toronto) but as for when, I have no idea…

All I know is that I feel Garth has saved me from personal financial ruin!

#800 N-N on 06.21.14 at 10:46 am

A)Own (at least half of it between the two of us)
B) 220-90
D)no idea

#801 Mike on 06.21.14 at 11:27 am

Regular reader. Who am I?

I’m a renter.

Family (me + fiancée) income is just north of 60k.

I’m in my low 30s, partner’s in her mid 20s. We’re both employed in arts fields.

And I have no idea about the future of housing. If it weren’t for my partner, I would have no interest in owning a house at all – but thankfully, she’s willing to wait until the prices drop and stabilize, and until we have some more money. House for us is “eventually” and “someday.”

I read the blog every Saturday morning at my day job. A week’s worth is a great way to get the day going.

And yes, I have a TFSA and RRSP, and both are invested.

#802 Kelly on 06.21.14 at 12:15 pm

(a) homeowner
(b) $44K single income; zero debt other than mortgage
(c) 47 years old
(d) I predict higher home prices for next two years. I plan on selling mine within the next two years and buying again, but cheaper/further away from GTA

#803 shane on 06.21.14 at 1:23 pm

A) rent
B) 190k combined
C) 44 and 40
D) Hoping for 50%, especially in Markham so I don’t have to pay 650K+ for a 2000 sq ft single garage shit box.

#804 the doubter on 06.21.14 at 1:36 pm

a) own
b) 60K
c) 65
d) Vancouver, Toronto and Calgary up, the rest down.
e) Longer term like 5 years, all down

#805 Steve on 06.21.14 at 2:08 pm

(a) own(selling and buying less expensive condo apartment
(b) retired $50k
(c) 63 11/12
(d)slight decline in SK everywhere is building or riding a rollercoaster

#806 VanCity D-Man on 06.21.14 at 2:11 pm

(a) own (400k, paid off, no mortgage)
(b) 160k family income
(c) 47 / wife 44
(d) 30-40% correction
(e) 0 debt, credit cards are paid in full every month, own 2 cars, 800k investments + 120k resp saved for 2 kids, wife has DB pension plan

#807 Waiter on 06.21.14 at 4:17 pm

(a) Rent
(b) Income just over 100K
(c) 48 years
(d) (Hoping for a decline of) 10% or more within next 2 years. That would cover the rent I paid during this while which all my homeowning friends tell me is money going down the drain :-)

#808 Rebecca on 06.21.14 at 4:27 pm

(a) Rent
(b) $150k
(c) 28 years
(d) A 10-20% correction followed by a long period of flatlining or slighly declining prices.

#809 D.D. Corkum on 06.21.14 at 5:08 pm

I parsed the comments.

Own – 234
Rent – 327
Both – 17
Neither – 2

This excludes many comments that were really just an ordinary comment, or that were too difficult to interpret using quickly thrown together scripting.

#810 Viva mcmurray on 06.21.14 at 5:16 pm

A) rent in Vancouver / camp life in Fmm.
B) 140k
C) 27
D) 30-40% drop in Vancouver

#811 None on 06.21.14 at 8:33 pm

#796 Steven on 06.21.14 at 7:38 am

Who are you? Well Steven, you are an asshole.

#812 ASL on 06.21.14 at 9:13 pm

even anonymously people cant help but lie. Several people in their early 20s making over 200K/yr? I doubt it. The only field this is even possible is a top athlete imo. Even googlers start around 90-110K their first few years coding.

If these are true, I didn’t know there was this many doctors/executives/hydro1 employees that read this blog.

#813 edmontonqween on 06.21.14 at 9:32 pm

A) rent
B) 100k
C) 39
D) down like a slap in the face.

#814 No Debt on 06.21.14 at 9:48 pm

(a) rent
(b) $90k before the government takes it’s piece,
(c) 56
(d) Over the next year, or even two, I don’t see any huge pain. Although, the economy is slowing. People are starting to hit their debt limits. Cost of living is rising, wages aren’t. Can’t see a good outcome in the long run.

#815 Harry Wilson on 06.21.14 at 9:57 pm

Hello again, Mr. Turner.

I was a little late to the party this evening, and missed the dust-up over now-banned Steven’s comment #86 on June 20th’s ‘Come On In’ post, but I thought I should mention that he’s also here on June 19th’s ‘Who Are You’ post, at comment #796.

When I first read it this morning, I thought it may be a misguided attempt at some ironic hipster humour, by assuming the persona of a booger-eatin’ white trash moron. I guess it turns out that it wasn’t an act.

Whether or not you delete his comment is up to you, but I thought I should mention it, as it should at least be a footnote in your single-spaced binder of shame.

P.S. Your call, but I won’t be hurt if you don’t post my comment on his comment, as it really has nothing to do with the topic at hand.

P.P.S. I hope I haven’t pissed you off too much lately; I know I ain’t your dream visitor.

Thank you for the alert. That comment is now deleted. A platoon of fire ants has been dispatched to crawl into that poster’s shorts. — Garth

#816 No Debt on 06.21.14 at 10:41 pm

#789 stage1dave on 06.21.14

>> “I should mention the wife & I carry no debt whatsoever & have a good amount of semi-liquid assets…like, stuff that would take a week or two to sell. Which we get to enjoy while we own it…”

What the heck is a semi-liquid asset? Either it can be cash in hand within a day, or it can’t. Toys like trailer queen hot rods, Harleys and RV’s don’t count as being liquid in any way.

>> We enjoy living, period; not making payments to live!

Sound philosophy. Money sitting idle in toys and material possessions that could be better put to use in investments is sheer waste, beyond it’s enjoyment value.

>> Hey, we’re under 80K…do I still get to read the blog?

Uhm… You didn’t mention your age, but there may still be hope. Hell, I’m barely eligible.

#817 love my kia on 06.21.14 at 11:44 pm

Finally something interactive here!
a – own (outright)
b – 96,000
c – 45 and 78 (aging parent)
d – stable here in Thunder Bay with slight increase

#818 Deadwood on 06.22.14 at 12:56 am

A) rent primary/own lake front
B) 160k
C) 46, 54
D) don’t know

#819 Curious George on 06.22.14 at 2:26 am

a) Own
b) 125K before tax
c) 42 yrs
d) Vancouver Metro
e) Soft Landing – Correction – 10 to 15%
f) Hard Landing – Crash >= 20%

#820 Osgoode on 06.22.14 at 9:04 am

a) Own
b) 180K
c) 47
d) It has to correct, doesn’t it??

#821 Drill Baby Drill on 06.22.14 at 10:44 am

a) own
b) $400K
c) 59
d) 50%

#822 Sassytoon on 06.22.14 at 11:05 am

I love your blog and I never leave a comment! Your blog dogs do scare me! Since I respect your opinion I will leave a comment this time.
a) Rent
b) $49000
c) 36
d) No big corrections in the next year or two but a big correction may come further down the road when home owners realize they can’t get the big bucks they want.

#823 BCD on 06.22.14 at 12:52 pm

Who cares. . .happiness doesn’t increase with income, not sure why some people think it does. Do I feel a tad bit inadequate, sure. We make 156K. That being said I am sure our level of debt is FAR below everyone else ($0).

Show me how happy you are and I might really be envious. Once the basic necessities are taken care of it’s the “other” things that REALLY count in life: How good looking are you? How charismatic? How physically strong? How many “experiences” have you had? How intelligent? How talented?Money can’t buy these things genuinely. Notice how these things are just as common in the poor folk as the rich ones? The best things in life really are free.

Life is so much more than a payroll.

#824 DRW on 06.22.14 at 1:31 pm

(a) rent for past 6 years in Vancouver
(b) 190,000
(c) 43
(d) 10-20%, in 2 years. worse in Vcr.

#825 LTRFTW on 06.22.14 at 2:16 pm

1) Own, mortgage free.
2) 110,000
4) Should go down but there are enough fools to keep it going up.

#826 Dr N on 06.22.14 at 3:20 pm

1. own, 250k mortgage
2. 350k
3. 58
4. 25% correction nationally

#827 The Flag Hag on 06.22.14 at 4:51 pm

1. Own condo mortgage free
2. Also enough due to my great, bearded, management Wizards (thanks Garth and Scott)
3. 57
4. Things will continue to go up in Calgary for 2 more years or so then correct 30%

#828 B-dog on 06.22.14 at 11:29 pm

A) rent
B) $250 (household, pre-tax)
C) 35
D) 20% correction in Vancouver

#829 John on 06.23.14 at 10:43 am

1) Rent. Used to own but cashed out
2) $140k – me, $120k, wife is underemployed due to wrinkly teachers staying in the system and makes $25k full-time part-time
3) 28 and 25
4) Downtown Toronto condos: down 30% from mid 2015 to 2018; 416 detached: another year of growth and then a decade of flat due to the lower rungs of the property ladder being eviscerated; 905: down 10% in the good areas, 30% in the 30 foot lot areas

#830 Roy Munson on 06.23.14 at 11:25 am

a) own
b) $110k
c) 32
d) stagnant (KW area, Ontario)

#831 Leo on 06.23.14 at 12:28 pm

(a) rent
(b) $240k
(c) 41 & 35
(d) could continue to go up in the GTA…

#832 Doug in London on 06.23.14 at 12:55 pm

You’ll have to forgive me for being late to respond here (I’ve been told I’ll be late for my own funeral) but I was enjoying the weekend SCUBA diving, spending some of the distributions, dividends, and capital gains from investments I scooped up while they were cheap. My stats are:

a) Rent (but own REITS)
b) varies widely, but average about 30 grand
c) Age 53
d) Believe the market in overpriced locales like Toronto will come back to reality eventually. Less correction in places like London and little or none in places that are already cheap like Windsor. Don’t know about Calgary, but higher interest rates could also bring prices there closer to sensibility.

#833 SlowPoke on 06.23.14 at 1:34 pm

(a) Own; bought a very old condo in 2012
(b) Married couple, about $200,000
(c) 33
(d) Stagnation in the high-demand GTA, Calgary, Vancouver. Outer suburbs and rural, slow price erosion.

#834 Subversive on 06.23.14 at 3:52 pm

a) Own
b) $180,000
c) 39 & 31
d) expecting a decline, aware that too much of my net worth is in real estate, working hard to correct that. Love where we live and have no plans to move.

#835 The Mayor of Transcona on 06.23.14 at 3:59 pm

Wow, spent the weekend at the lake and missed this doozy till now!
(a) Own
(b) Married, $125 combined
(c) 33/34
(d) Where I am, in Winnipeg, probably a very small correction or a number years of no price stagnation

#836 FlorianLR on 06.23.14 at 4:36 pm

(a) rent (Vancouver), money towards savings and etf’s
(b) Married, combined $150
(c) 34/36
(d) Vancouver/Toronto: 20 to 30% correction, other 10 to 15% with slowly rising interest rates…

#837 OneHotVintage on 06.23.14 at 4:53 pm

(a) rent (squamish)
(b) Married, $165k combined
(c) 33/31
(d) 10% correction, 15% or so in Van, GTA, Cowtown

#838 Londoner on 06.23.14 at 5:11 pm

Is it too late to post? FWIW:

(a) rent
(b) $300k+
(c) 37
(d) 416 SHF +10% over 2 years, 905 and condos -5%, not sure about the rest of Canada

#839 Tumorski on 06.23.14 at 6:48 pm

a) Rent
b) 140K
c) 35
d) ~15% in Cowtown (here’s hoping)