Suck it up, Lisa.

JAIL SALE1

Lisa: “Mom, why do we need to move again?”
Mom: “Because Mr. Landlord needs this place.”
Lisa: “But I need it too, I love my room.”
Mom: “I know my dear, but this is not our house, we don’t own it.”
Lisa: “But this IS my home, look, that’s my picture on the wall. This is not fair!”

If you just threw up a little, you’re normal. Unless you’re Michael Lee. He loves this stuff. It helps fulfill his personal destiny “to retire into the life I desire.” The young Port Coquitlam-based serial entrepreneur is doing that these days by simultaneously flipping $60,000 shacks in Atlanta and Chicago while he runs a little lease-to-own program raking in house-craving Vancouverites who actually can’t afford to buy.

Anyway, here’s the pitch. Don’t you dig the pic? Cue the weeping violins…

Mom, why do we have to move again?

MOM

We can’t agree with Lisa more. She is right. This is NOT fair!

When your family moves in, you clean it up, unpack your stuff and spend countless hours here. Happy times, sad times, boring times and exciting times. This place is an empty space between 4 walls; nothing special. All the memorable stories of your lives make this space home. You love it, you take care of it and you do whatever the landlord says, because you don’t want to move . . . again.

Then one day you wake up to a landlord’s E-mail in your inbox. Yes, you need to go. Again. You need to leave your home, and never have a chance to come back. You pack all your stuff, take pictures of this place, hope to keep some memories of your home, but you know, this next place will never be the same anymore.

I know you’ve tried to own your home, but your pay-cheque only grows by 2% when the housing price increases by 12%. Saving up for the down-payment seems like a never ending staircase, the more you climb the further you fall behind. What can you do, you ask yourself?

You are not alone. That’s why Katlan is dedicated to bring the best Rent-To-Own program to the greater Vancouver market. The program is developed by a team of professionals including a Lawyer, Mortgage Specialist, Real Estate Agent and Investors with the goal of enabling you to own your dream home, and make a difference to your family.

Well, I guess we have to expect schemes like this to sprout in a place where the average detached property costs over a million, the average family makes seventy grand and all anybody talks about is house porn. Katlan Consultants seems a tad opaque and obscure, aimed at people with crappy credit scores who’d never qualify for traditional mortgage financing. Lee and his partners tell people like Lisa’s mom that they can still own a house, sort of.  “Our programs are uniquely designed for dedicated individuals who cannot qualify for conventional financing today to achieve homeownership in the near future.”

So, Katlan buys a house, then leases it to Mom. She has to furnish 10% of the downpayment, even though she’s not on title, plus pay an extra amount each month (additional to rent) which will go into repaying Katlan’s deposit. This carries on for “between 2 and 5 years” after which the renter fronts more money for closing costs, and takes over the mortgage payments. If something happens in the intervening time and Mom has to move on, a portion of her downpayment is lost.

Of course, if Mom just took this money she’s handing over so Katland can buy the property she then leases (which Katland owns), plus the additional rent, and invested it inside a TFSA she might do a lot better – with no penalty if the deal never happened. But how could she ever explain “TFSA” to dear little Lisa? Especially when evil Mr. Landlord teams up with the bad Mr. Mulcair and the awful Mr. Trudeau to diddle her tax-free account?

Michael Lee, by the way, lists his formal schooling as “Tigrent Rich Dad Education”. Apparently it didn’t take. His sister company, EPI real estate, tells American wannabe flippers: “With all-time low interest rates, significant house price drops and a weak US currency, this is the perfect time to invest.” Actually rates have shot up in the last year, house prices have gained steadily and the US dollar is at record high levels. But, you know, like, whatever. It’s all about marketing, anyway.

Sorry little Lisa. Your mom’s a wuss being goaded by parental guilt into a financial death spiral that could shatter your future while Mr. Lee will get the one he deserves.

Stop moaning, kid, and pack up the damn toys.

170 comments ↓

#1 ApplePi on 09.21.15 at 5:22 pm

Question is… what are the chances of the NDP or Libs following through with the reduction of the TFSA. At least give us another year @ 10k!

#2 Garth on 09.21.15 at 5:22 pm

A living example of the “new” element in Vancouver. We all know it has changed for the worse.

#3 espressobob on 09.21.15 at 5:22 pm

It’s a wonder in a country as vast as Canada that “real estate” is in the state we find? What a shame.

I’m still voting feline.

#4 Jim on 09.21.15 at 5:24 pm

For anyone to hi king of voting for Harper:
http://thetyee.ca/Opinion/2015/08/10/Harper-Abuses-of-Power-Final/

#5 Bobs ur uncle on 09.21.15 at 5:37 pm

I’ve had that happen to me twice over the past four years – landlord decides it’s time to move back to town or sell. It sucks, but I’ll still take it over the costs of a new roof, new toilet, new bathroom floor, fridge repair, and new sewer connection, all of which were required over those four years. The cost of all the repairs exceeded the rent I paid over that time. Not to mention mortgage interest payments and taxes. And house prices here have, at best, been flat the whole time. Who’s throwing their money away?

#6 John Prine on 09.21.15 at 5:46 pm

#1 ApplePi on 09.21.15 at 5:22 pm
Question is… what are the chances of the NDP or Libs following through with the reduction of the TFSA. At least give us another year @ 10k!

——————————————————————–
Mr. Harper is going to make it easier for all of us to do more renovations and buy more homes……

#7 Chris on 09.21.15 at 5:48 pm

Rent to own became popular after the last US housing down turn. The rationale was that the people that do rent to own don’t really end up buying the house usually but while they are in the program they take better care of the house because they think they are the owners rather than renters.

#8 Vundo on 09.21.15 at 5:49 pm

So where is Lisa’s mom going to get 20,000 for the mini down payment? Raid the RRSP and then pay that back at the same time as paying the extra amount on top of the rent? That sounds expensive. Let us put aside any consideration of the TFSA for a moment. What could Lisa’s mom do with all that money she is paying to her “consultants” and back into her RSP? This could go into an RESP for Lisa. Or an RDSP if Lisa has a disability. What kinds of opportunities will Lisa miss because mom feels the need to own a house? Parental guilt should motivate Lisa’s mom to run, not walk, away from this.

#9 Paul on 09.21.15 at 5:54 pm

Just sign a long-term lease. Problem solved, no?

Renters (like me) whining about moving just sounds like “I didn’t agree to contract terms that aligned with what I was looking for…”

#10 For those about to flop... on 09.21.15 at 5:57 pm

I think we are at the bottom of the barrel time here in Vancouver.
Anyone with a pulse wanna buy a house?

#11 Lea on 09.21.15 at 5:58 pm

Vancouver real estate is scary! This from somebody who moved from New York to Los Angeles to Vancouver. Every time I get the realtor flyers in the mail I mimic Dr. Evil…”one million dollars!”. There is a 1000 sq. ft. condo for sale down the street in North Van for $869,000. I am told that this is a “big” condo.

If you are going to live in Port Coquitlam why not buy a comparable property in Blaine for 1/3 the price?

Also, why are property taxes so low?

#5 Bobs ur uncle is right. With all the rain here the maintenance costs are off the charts. Our rental has a lot of rotting wood.

#12 waiting on the westcoast on 09.21.15 at 6:11 pm

2 things today….

First – why can’t people just look at the valuations and say… too rich for me right now and wait for the cycle to return closet to normal valuations? Is it really just the allure of stability. Has our society so neutered us from adventure and change? Or do we need the approval of friends and family so desperately to enslave ourselves to massive debt…

Second – why doesn’t the liberal party move more to the right and pick up the small ‘c’ vote from the Conservatives. I did the CBC poll that analyzes where you sit politically and came out center right. What was interesting is that the platforms of the NDP and Liberals were very close in the top left quadrant. If the Liberals moved more to the right economically, they may force the Conservatives closet to the center as well.

#13 Snowboid on 09.21.15 at 6:11 pm

Let us not forget the rent-to-own King of the Central Okanagan, AJ Hazzi.

http://www.vantagewestrealty.com/rent-to-own/

This from the great investment guru…

http://www.castanet.net/edition/news-story–1044-.htm

#14 EB on 09.21.15 at 6:12 pm

“Do whatever the landlord says”?

Yeesh, it’s an agreement between two parties, not indentured servitude. Both have responsibilities and rights under it. If anything I hear landlords complaining a lot more frequently and vocally about how few right they have relative to their tenants in BC.

#15 Ahmed on 09.21.15 at 6:13 pm

Hi Garth Sir
Are you convincing people here to vote for conservatives? I donot get it or at least it is the impressions I am getting. We have given chanes to harper and cons and somebody else should replace him after seeing what he has done to country, people and most importantly injected so much hate in general people. Closed industries, wiped out jobs, pumped up real estate and put canadians a front runners in a world in household debt race. On top of that his fear mongering politics has only caused danger for canadian kids and their families.
So anybody but Harper. Cannot be a better plan to vote him out

http://www.nationalobserver.com/2015/09/21/opinion/how-vote-out-harper-election-day

#16 I'm stupid on 09.21.15 at 6:14 pm

I don’t know how you find these people Garth. Chances are this guy is a basement dweller trying to make a quick buck. I highly doubt he has actually closed a deal.

#17 Freedom First on 09.21.15 at 6:18 pm

Self pity, entitlement, envy, laziness, lack of creativity, inability to think, blame, lack of gratitude. I recognized these as very dangerous hobbies decades ago.

So I spend every day doing what I enjoy, set my own goals, live by my own rules principles and ethics and live and let live.

Oh yeah, one other thing, Garth is trying to help us. Who you gonna trust?

#18 Randy Randerson on 09.21.15 at 6:19 pm

I’d move to US in a heartbeat, if only I’m a US citizen and I don’t have to jump through hoops to get my healthcare license.

I’m just so sick of hearing how Canadians are suffering because of high RE price, better go to US since they’ve had that song already. Soon we’ll be hearing how Canadians are suffering because of low RE price.

#19 BG on 09.21.15 at 6:20 pm

#131 Ralph Cramdown on 09.20.15 at 10:32 pm

Although you make good points about how the rich can optimize their use of the TFSA I’m still not convinced it’s evil.

10k is not that much to put aside annually. And if you can’t do it now, at least the TFSA gives you another reason to try reaching that goal.
Which is a refreshing alternative to the ambient housing lust.

A rich person may become somehow richer with a TFSA but it won’t make such difference in their life as opposed to a middle class person using it to build a pension.

Now I agree that this tax break comes at a cost, that we are all paying. I’m ready to keep paying for it as long as it is -by design- useful to the middle class (that they use it or not is another story I’m not interested to hear).

Anyway, at 5k or 10k the TFSA is the last thing politicians should be talking about now.
Harper should no have touched it so close to the election, and provided he did anyway, the other guys should have been the better men by not bringing it at the center of the debate.
Cheap moves.

#20 WhoLikeShortShorts on 09.21.15 at 6:20 pm

This guy should be lumped into REIN fools, World Financial Group scammers and many other shady entities.

Sad thing is that there is a reason that these people/companies exist … greater fools everywhere.

#21 NDP wealth tax?? on 09.21.15 at 6:26 pm

In your previous blog post you mentioned NDP might introduce a wealth tax. All I can find online is news from 2013 stating that Mulcair said that will not happen. How real is the NDP wealth tax plan currently?

#22 TurnerNation on 09.21.15 at 6:45 pm

Someone mentioned what will happen with all the fancy and expensive classic cars sitting for sale on Kijiji: who will buy?

A wave of city folks: metro millenials living in their
UN-approved 475sq foot condo (Vespa or Smart cars only) who think mini Teslas are like cool. As boomer fade away.

Will they care about a 1967 Camaro, big block with numbers matching for $30,— or 40,000? What thrill will they find in gapping its plugs and points, changing diff oil on a posi rear end?

Unless mentioned in Grand Theft Auto video game it didn’t happen.

Obama’s creepy “Cash for clunkers” (give us your cars…or else) campaign a few years ago dealt a blow to old cool cars with their yesteryear mystique.

Thank goodness blog dogs live by: There’s no replacement for displacement.

http://www.kijiji.ca/b-classic-cars/alberta/numbers-matching/k0c122l9003?ad=offering

http://www.kijiji.ca/b-classic-cars/ontario/number-matching/k0c122l9004?ad=offering

#23 Mister Obvious on 09.21.15 at 6:56 pm

#11 Lea

“If you are going to live in Port Coquitlam why not buy a comparable property in Blaine for 1/3 the price?”
———————————–

Because the Americans don’t really want you living there?

#24 Ponzius Pilatus on 09.21.15 at 6:59 pm

Double shame on the heartless landlord.
Getting the pretty lady pregnant and than kicking her out.
Typical 1% er.

#25 Lea on 09.21.15 at 7:04 pm

#23 Mister Obvious

It’s Californians they don’t want, Canadians are a-OK ; )

#26 Llewelyn on 09.21.15 at 7:06 pm

I forgot that a TFSA will ‘guarantee’ a 6% or 7% return on investment. Silly me!!.

Holy smoke Batman bonds are hardly setting the world on fire, many companies in a balanced basket have cut dividends and the value of many ETF’s of all stripes have declined in value year over year. On top of it all the old crystal ball seems rather cloudy these days.

If I was the leader of a political party I might suggest that Canadians be encouraged, not discouraged, from investing in expansion of the Canadian economy. I would expand government guarantees for mortgage backed securities and housig related bonds to include the ability of each adult Canadian to purchase up to $10,000 in economic development bonds each year while earning an guaranteed tax free return of 4.0 % per annum.

I would then promise to create a think tank to recommend how the capital raised should be invested to expand our economy.

Several months ago I mentioned the idea of a national competition to solicit investment ideas and still think the idea has merit.

Investing in emerging markets may provide an opportunity for a higher rate of return but it will not help future generations of Canadians.

It seems to be time for a movement dedicated to improving the economic future of Canada. Far too much attention is being paid by all parties to protecting the wealth of the current generation.

(A) Nobody, outside of Brad Lamb, can guarantee any future return. (B) There Is no ‘current generation.’ (C) It’s interesting how a guy with GICs knows everything, about everything. — Garth

#27 Sheane Wallace on 09.21.15 at 7:17 pm

After seeing the incredibly intelligent face of the BOC governor today:

http://www.ctvnews.ca/business/economy-remains-highly-diversified-not-overly-resource-reliant-boc-governor-1.2573980

who claims that inflation in Canada is 1.3 %.

I would say: go ahead Lisa, what could wrong with this genius at the helm of BOC (cough cough) and his put on interest rates?

#28 DJ on 09.21.15 at 7:19 pm

Garth:
Would there be any circumstances in which you would recommend a rent to own?

#29 Tom Brady on 09.21.15 at 7:20 pm

Hiyooooh Garth!!

Sorry for the late notice, guy, but I won’t be able to guest blog for you this month like I was expecting. You might have heard, that crap suspension got tossed and the Patriots are off to a 2-0 start!

I won’t be able to drop over in the bye week next week either for you, coz my agent will have me busy on a new ad deal for Volkswagen Diesel – I love those guys, we’re like soulmates!

A lot of people don’t realize I have lot of financial wisdom to share, and that I interned two years Merrill Lynch as a youngster, so it will be sad I can’t fill in for you on Sundays to share my knowledge.

But I can share one little, but important, piece of advice here:

If your blog dogs really want to deflate their balls, they should just do whatever Smoking Man says – that guy is an ignorant pathetic wuss who makes no sense at all.

ALPHA! HUT! HIKE!!!

#30 Snowboid on 09.21.15 at 7:22 pm

#22 TurnerNation on 09.21.15 at 6:45 pm…

Good finds, but I prefer AZ classics – no rust. Plus a bonus is fuel at our local AZ station is down to .75 CAD a litre – makes it easy to fill up the old hot rod Lincoln!

#31 will on 09.21.15 at 7:26 pm

Too complicated for me man.

#32 Randy Randerson on 09.21.15 at 7:28 pm

#23 Mister Obvious on 09.21.15 at 6:56 pm

Shouldn’t it be “Canadians think they’re too good to be living in the States”?

#33 Retired Boomer - WI on 09.21.15 at 7:32 pm

AH, yes!! The French style buyer i.e. “Baroque” is enticed to a dodgy financial transaction. Didn’t work out as planned? So sorry, U B Screwed in part. Now move!!

Sympathy? Oh yes, but you will find it in any English dictionary between ‘shit’ and ‘syphylis.’

We can NOT fix stupid, desperate, or depraved. WHY do we even both? IS it the province of ‘government’ at whatever level to protect the naive from their own financial destruction? I think not.

Perhaps that is why I might vote differently than you.

Caveat Emptor = Buyer BEWARE!!

#34 Retired Boomer - WI on 09.21.15 at 7:44 pm

“Going To Jail Sale” ???

Which politician running does THIS apply to?

I’m maggotty* it’s been a fun afternoon at the Log Cabin solving the problems of the U.S. Glad my ‘smart car’ that 93′ Caddy knows the backroads to home.

tomorrow everyone…

*drunk

#35 For those about to flop... on 09.21.15 at 7:51 pm

#25 Retired Boomer – WI on 09.21.15 at 7:32 pm
AH, yes!! The French style buyer i.e. “Baroque” is enticed to a dodgy financial transaction. Didn’t work out as planned? So sorry, U B Screwed in part. Now move!!

Sympathy? Oh yes, but you will find it in any English dictionary between ‘shit’ and ‘syphylis.’

——————————-
Hey Boomer, I will give you sympathy and in return you can give me shit . But neither of us wants to give the other one syphylis!

#36 Sheane Wallace on 09.21.15 at 7:55 pm

#28 DJ on 09.21.15 at 7:19 pm
Garth:
Would there be any circumstances in which you would recommend a rent to own?
———————————-
I would. in Spain,

#37 Not be fooled again on 09.21.15 at 8:00 pm

As Clown Prince Poloz misstates the effects of his lunatic loonie policy. ( he says his crushing of the loonie is taking the pain out of our system) bwhahahahahahha…the planet we live on is becoming sickeningly more real.

In reality food costs are soaring…and now the confirmation from business that all prices are soaring.

http://www.bnn.ca/News/2015/9/21/Canadian-retailers-set-to-boost-prices-as-loonie-sinks.aspx

Seniors who were forced to capitulate and sell because of the ZIRP are now being starved by soaring food and consumer prices.

But….”Feel no Pain” says Plozo the Clown…..when you’re dead in the ground …you can eat worms.

#38 New Canada on 09.21.15 at 8:03 pm

DELETED (anti-immigrant)

#39 Former vancouverite on 09.21.15 at 8:06 pm

At one time we lived next to a pos rental trailer that the landlord kept advertising as rent to own. The trailer kept falling into worse repair because neither the renter or the landlord was willing to invest anything further into it. They both wanted the other to pay and the renter always walked with nothing.

#40 Smoking Man on 09.21.15 at 8:12 pm

Nice , back to real estate.
Politcal Trolls can go back to the MSM posts.

What everyone doesn’t realize regardless of who gets in appart from a bit of window dressing not much will change.

The machine has penetrated Canada a long time ago, The Majestic 12 runs the show.

Alien technology to travel the stars is here, cures for all illnesses known. The old can be made young again. Yes you can live forever.

Its not going to fly.

That knowledge will wipe out religions, Destroy the oil and gas production, Hospitals and all the industry’s gone. Funeral companys put out of business. Schools gone, everyone gets a connection to the UCC

Every industry you know not required.

Its just to much for one generation to handle.

The Majestic 12 my fellow dogs.

#41 Jimmy on 09.21.15 at 8:18 pm

The FAQ section is riddled with spelling and grammar mistakes. Guess who would type something like that.

#42 New Canada on 09.21.15 at 8:19 pm

DELETED

#43 Llewelyn on 09.21.15 at 8:20 pm

Ouch once again!! Are you trying to make me feel bad for being too conservative with my little nest egg?

All I was trying to say was that the current election campaign does not seem all that future oriented. I realize that future generations cannot vote but that is no reason not to devote more effort to longer term initiatives.

Remember how you felt when Stephen discouraged you from sharing your thoughts and lighten up on a poor old pensioner with nothing but memories of how good it used to be.

#44 Bondgirl on 09.21.15 at 8:23 pm

So some enterprising dude is working hard to scrape the bottom of the barrel and sucker people into lease-to-own schemes. Well, if there was ever a time to try this stunt, it is now. If he can turn a buck and isn’t breaking the law, I say, more power to him. He’s obviously betting that the potential profits are big enough to justify the risks. Nobody knows how long it will take for Vancouver’s housing bubble to pop. These are strange times.

#45 Mike T. on 09.21.15 at 8:24 pm

everyone except me will be disappointed whenever this election happens

http://news.nationalpost.com/news/canada/canadian-politics/a-full-list-of-all-the-promises-made-so-far-in-the-canadian-election-campaign

#46 White Crock BC on 09.21.15 at 8:26 pm

#11 Lea

“If you are going to live in Port Coquitlam why not buy a comparable property in Blaine for 1/3 the price?”

1. Have you ever been to Blaine?… Yikes.

2. People think you can just opt to live in the US and commute to your job in Canada. Not that easy. There are rules. Lots of rules.

#47 A Nobody on 09.21.15 at 8:27 pm

This question isn’t meant to offend anyone or elicit an attack on me( although it probably will). Seriously but

At what point are all the housing bears for GTA and Vancouver RE on this site going to re examine e their position on the matter and either decide that the point of view just might be wrong ?

I mean isn’t it a sign of open mindedness and intelligence to admit that when evidence continually suggests to the contrary of ones position , one should reevaluate ?

#48 45north on 09.21.15 at 8:28 pm

he runs a little lease-to-own program raking in house-craving Vancouverites who actually can’t afford to buy.

here’s an op-ed piece on housing affordability:

It’s time to make affordable housing an issue in the federal election campaign.

http://ottawacitizen.com/news/politics/eggleton-canada-needs-more-affordable-housing

so maybe Art Eggleton is thinking that the Federal Government should put more money into public housing but really he is just saying there’s a problem here and the problem is that houses cost too much.

The solution is staring us in the face: raise interest rates and tighten CMHC regulations. How hard is that? Well it’s so hard that the three major political parties won’t do it.

if you want to see where politics are, look to see where the political parties agree

#49 John in Mtl on 09.21.15 at 8:44 pm

Interesting… where do we get the $$$$ ?

List of all the promises made so far in the Canadian election campaign:

http://news.nationalpost.com/news/canada/canadian-politics/a-full-list-of-all-the-promises-made-so-far-in-the-canadian-election-campaign

#50 Daisy Mae on 09.21.15 at 8:44 pm

#10: “10k is not that much to put aside annually. And if you can’t do it now, at least the TFSA gives you another reason to try reaching that goal.”

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

The TFSA great…but it’s always been “subject to change without notice”. And that’s exactly what’s happened. It will continue to be tweaked as the years go by. Get used to it.

#51 Smoking Man on 09.21.15 at 9:01 pm

https://youtu.be/1e5IqDtxUuE

You all remember when said I was heading to boston. Said Ive never been..well that was a fib..We had a meeting earlier in the year.

The large plasma ball is our Mother ship.

First orb is Ashman, all the way to the right.
Next is his father Isaac.
Next is Blythe Barrington then Jeremiah Jones.

Guess where I am… Centre stage of cource.

Enjoy the clip…for a better affect, play the Immigrate song by Led Zeppelin

Its all in my book.

#52 JimH on 09.21.15 at 9:18 pm

#41 Llewelyn on 09.21.15 at 8:20 pm
“… Are you trying to make me feel bad for being too conservative with my little nest egg?”
=======================
Actually, Llewelyn, it’s not at all that you’re “too conservative” with your nest egg; it’s that you’re actually ultra-conservative and are in fact, falling behind.
You appear to espouse, “in GID’S I trust” because you seem to think the only sensible alternative is “In Goldman Sachs I trust”. There are many shades in between these alternatives.
I think you love doing research, Llewelyn, but I challenge you to push yourself a little here.
GID’S are actually costing you a bundle, due to the falling CAD coupled with actual Canadian consumer staples inflation. In my nevertobeconfusedwithhumble opinion, what you define as “conservative” is in fact destructive and in fact giving you a negative rate of return! That fails every test I know of what “conservative” means and implies. It most assuredly is imprudent!
Anyway, I do hope you can do some serious research into your options!
Good luck!

#53 csarichardo on 09.21.15 at 9:27 pm

Life is really complicated. People who are rich come in may packakes. I think Garth is right …. to say ? .. we need to encourage more millionaries not “billionaires or poor” people !!!? However for most people they appear to want to punish millionares ?

#54 Alpine Credit on 09.21.15 at 9:31 pm

DELETED

#55 Jean Claude Vandammecouver on 09.21.15 at 9:38 pm

OMG that Katlan website is riddled with spelling errors and just terrible grammar… embarrassing.

#56 Star Stuff on 09.21.15 at 9:39 pm

#38 Smoking Man on 09.21.15 at 8:12 pm

Nice , back to real estate.
Politcal Trolls can go back to the MSM posts.

What everyone doesn’t realize regardless of who gets in appart from a bit of window dressing not much will change.

The machine has penetrated Canada a long time ago, The Majestic 12 runs the show.

Alien technology to travel the stars is here, cures for all illnesses known. The old can be made young again. Yes you can live forever.

Its not going to fly.

That knowledge will wipe out religions, Destroy the oil and gas production, Hospitals and all the industry’s gone. Funeral companys put out of business. Schools gone, everyone gets a connection to the UCC

Every industry you know not required.

Its just to much for one generation to handle.

The Majestic 12 my fellow dogs.
———————
Ah indeed. Any of these MJ-12 chaps still kicking?.. Or are you the anointed one?

#57 Harper you are going to lose on 09.21.15 at 9:42 pm

The rats have left the sinking SS Harper since they know that NO ONE and I mean NO ONE with a half a brain would be stupid, foolish or ignorant enough to vote for that loser(Harper). I used to be a Conservative but once that moron kicked out the only true blue conservative (Garth) then I knew the Pee C party was forever finished as the real conservative values are no more. Harper has proven he is no conservative but rather a waster or tens of billions and we’ll over a hundred billion dollars in taxpayers money. I am not sure if Harper even likes Canada or wants to destroy it. As of right now without a doubt Harper what’s to sink Canada. Harper you will lose.

#58 Harper you are going to lose on 09.21.15 at 9:45 pm

BTW I am voting Liberal. I can’t vote for commie NDP. Mulcair is a true nutbag.

#59 Peter on 09.21.15 at 9:48 pm

“If you are going to live in Port Coquitlam why not buy a comparable property in Blaine for 1/3 the price?”

Little thing called “getting a US citizenship” but also foreign ownership is not tax-efficient; especially if living in the US 6 months+1 day means you pay taxes in BOTH countries (Canada and US). Ouch!

#60 Herf on 09.21.15 at 9:55 pm

Trudeau wants to establish a national child/day care system similar to the one in Quebec, and implement a national green energy program similar to the one in Ontario.

Trudeau is deceiving the public about what he means by the word “infrastructure”. Two-thirds of his proposed spending doesn’t involve infrastructure such as buildings, bridges and roads as most people invision, but rather, involves spending on social programs.

Regarding the national child-card program, here’s the press release:

https://www.liberal.ca/trudeau-announces-plan-to-ensure-greater-economic-security-for-middle-class-families/

Plus, he wants to implement a national green energy program such as Ontario has attempted involving initiatives like electrification of transportation, electric vehicle charging stations and clean energy storage (whatever that is). To do it, he’ll create a new bureaucracy to provide funding for the green stuff by means of issuing “green bonds”:

“We will establish the Canada Infrastructure Bank (CIB) to provide low-cost financing to build new infrastructure projects.”

“The new CIB will issue Green Bonds and make green infrastructure projects more attractive to private investors by offering loan guarantees, reducing financing costs and risk, and bundling small projects into attractive offerings for investors.

Here’s Brian Lilly’s report and commentary:

http://www.therebel.media/trudeau_finally_admits_it

Here’s the Liberals’ own economic Backgrounder, with pertinent sections titled “Public Transit Infrastructure”, “Social Infrastructure” and “Green Infrastructure”. Spending on social and green “infrastructure” comprises 2/3 of the total ten-year amount:

https://www.liberal.ca/files/2015/08/An-historic-investment-plan.pdf

There is a discrepancy stated in the Backgrounder in the total amount spent over ten years. The opening paragraphs state ten-year spending amounts of $65 Billion, eventually doubling to $125 Billion, while a chart further down contains a yearly expenditure break-down totaling 59.1 Billion over ten years. Which is it?

More of the Liberal “plan” here:

https://www.liberal.ca/backgrounders/

Anyone Canadian voter who thinks government should get involved in providing loans to private investors to engineer a green economy, should read the following document outlining Alberta’s misadventures into diversifying its economy through various government/private partnerships and investments:

http://policyschool.ucalgary.ca/sites/default/files/research/siren-song-economic-diversification-morton-mcdonald.pdf

Better yet, read reports about the bankruptcy of Solyndra in the U.S. after Obama gave it $500 million to produce solar panels. You can search online for “Solyndra” and find tons of stories. Here’s a few to get you started:

http://www.nbcnews.com/id/44350029/ns/business-going_green/#.VgCxRZdyXBw

http://watchdog.org/235818/solyndra-autopsy-energy/

http://www.washingtonpost.com/politics/solyndra-employees-company-suffered-from-mismanagement-heavy-spending/2011/09/20/gIQAMHC3lK_story.html

http://abcnews.go.com/Blotter/abc-news-investigations-year-solyndra-scandal/story?id=15199603

http://www.washingtontimes.com/news/2011/dec/13/grand-jury-begins-probe-of-bankrupt-solyndra/

The U.S. failed green energy experiment at taxpayer expense also includes other companies like these guys:

http://canadafreepress.com/article/45827

http://abcnews.go.com/Blotter/abound-solar-400m-fed-loan-low-rating/story?id=15833266

http://money.cnn.com/2012/01/26/technology/ener1_bankruptcy/index.htm?hpt=hp_t3

http://www.foxnews.com/politics/2011/10/12/solar-firm-that-received-12-billion-federal-loan-plagued-by-financial-problems-702546811/

http://www.ocregister.com/opinion/solar-333211-energy-company.html

#61 Marco on 09.21.15 at 9:57 pm

@Sheane Wallace

“Who claims that inflation in Canada is 1.3 %”

Evidently the only thing they have left in the CPI basket to come up with this figure is the KD.

Cheers.

#62 Smoking Man on 09.21.15 at 10:00 pm

#53 Star Stuff on 09.21.15 at 9:39 pm
#38 Smoking Man on 09.21.15 at 8:12 pm

Nice , back to real estate.
Politcal Trolls can go back to the MSM posts.

What everyone doesn’t realize regardless of who gets in appart from a bit of window dressing not much will change.

The machine has penetrated Canada a long time ago, The Majestic 12 runs the show.

Alien technology to travel the stars is here, cures for all illnesses known. The old can be made young again. Yes you can live forever.

Its not going to fly.

That knowledge will wipe out religions, Destroy the oil and gas production, Hospitals and all the industry’s gone. Funeral companys put out of business. Schools gone, everyone gets a connection to the UCC

Every industry you know not required.

Its just to much for one generation to handle.

The Majestic 12 my fellow dogs.
———————
Ah indeed. Any of these MJ-12 chaps still kicking?.. Or are you the anointed one?
…….

Number 12 here, got to be from another planet for that one. And might I add, the superior race planet. A tall white and Greys 4 and 5 …low lifes compared to Nectonites.

Full disclosure coming soon..

#63 Numbed by numbers on 09.21.15 at 10:04 pm

Ok Garth, here is your chance to join the1%, if not there already…it’s called the “1% app”.
You have to develop it of course, but it is a fully integrated e-mail app integrating all aspects of a subscriber’s wealth and then mapping them into a percentile ranking, which also shows up on yer facebook, linkedin (and dating sites).

Just think of all the fun at house parties. No more Twister or listening to MBAs/lawyers comparing GMAT and LSAT percentiles….just pull out your i-phone and start comparing …..instead of “size” matters, the new mantra is “percentile” matters…

#64 wynne on 09.21.15 at 10:05 pm

#48 Smoking Man
https://youtu.be/1e5IqDtxUuE

You all remember when said I was heading to boston. Said Ive never been..well that was a fib..We had a meeting earlier in the year.

The large plasma ball is our Mother ship.

First orb is Ashman, all the way to the right.
Next is his father Isaac.
Next is Blythe Barrington then Jeremiah Jones.

Guess where I am… Centre stage of cource.

Enjoy the clip…for a better affect, play the Immigrate song by Led Zeppelin

Its all in my book.

===

Freaking universal warming.

#65 Love my Kia on 09.21.15 at 10:05 pm

Mulcair will bring in affordable housing, why not him, his plan makes sense?

http://www.thestar.com/news/canada/2015/06/06/mulcair-promises-city-housing-costs-reform.html

Read the article. He is only proposing a tax break for builders of rental units. To the NDP, ‘housing’ means ‘renting.’ — Garth

#66 bollearz on 09.21.15 at 10:14 pm

#255 Calgary Rip Off on 09.21.15 at 4:13 pm
If you dont like taxes Garth, move to the USA. Canada is about Socialism. The next best thing to Canada is Sweden, home of high taxes, serious metal music, beautiful people and Ghostrider.

Conservative Canadian is an oxymoron.”

Don’t forget the Swedes inflicting ABBA and Inge Hammarstrom on the world….hopefully Canada will never sink that far….

#67 Mister Obvious on 09.21.15 at 10:35 pm

#31 Randy Randerson

Shouldn’t it be “Canadians think they’re too good to be living in the States”?
—————————————-

Not at all. I was myself in Seattle just last week. A lovely city I’d be happy to live in if I wasn’t already a Canadian born in Vancouver and firmly established here.

It’s just that you can’t simply “buy a house and move to the States”. They have laws about that. There are technicalities regarding employment, taxes, residency. What about medical coverage? What about a hundred other bureaucratic details?

Yeah sure. Just grab yourself a little rancher over the line where its way cheaper. And don’t forget to stock up on lots of that ultra cheap cheese.

Come on. For almost every Canadian it sounds like a fine plan but its completely impractical.

#68 will on 09.21.15 at 10:40 pm

#54 and #55

I’m with you.

#69 Smoking Man on 09.21.15 at 10:43 pm

https://youtu.be/JZi6yIDwnxw

What does this singer know….well he knows me.
I inspire him. Go figure.

I inspired this song…good luck with me talking you dogs into that belief..

Nic pizz did a great job on season one.. Told him season two was to complicate for the herd..

I was ignored, happens everytime a human feels they are above the mind of Nectonites.

#70 Topsy-Turvy on 09.21.15 at 10:43 pm

Looks like a popular picture A2G. Found the same on the “Helping You To Become Pregnant” website http://www.trueyou.guru/im-healthy/helping-you-to-become-pregnant/

#71 West Coast on 09.21.15 at 10:54 pm

http://www.theguardian.com/business/2015/sep/18/interest-rates-rise-bank-of-england-chief-economist-andy-haldane

Are we ready for part 3 of the trilogy?
“Recent events form the latest leg of what might be called a three-part crisis trilogy. Part one of that trilogy was the ‘Anglo-Saxon’ crisis of 2008-09. Part two was the ‘euro-area’ crisis of 2011-12. And we may now be entering the early stages of part three of the trilogy, the ‘emerging market’ crisis of 2015 onwards.”Andy Haldane – Bank of England’s chief economist

#72 DisgustMadeMePost on 09.21.15 at 10:56 pm

I’m hesitant to ask the landlord for a couple of key repairs . they might be more costly than he’s prepared to pay…. And I don’t want him to come to the conclusion he’d rather sell than fix! Don’t want to move !

Forgot that Justin wants to legalize and tax marijuana.

Another point in his favour .

#73 Rexx Rock on 09.21.15 at 10:57 pm

Average family income is well over $120,000 or more in Vancouver.High house prices reflect what the people of the city can afford.With these high price houses how in the world can the average median household of $70,000 buy real estate.Not going to happen.

Facts are facts. — Garth

#74 Going to jail on 09.21.15 at 10:57 pm

For a moment I was thinking Garth has breaking news item on the KPMG case.

#75 fruitypunk on 09.21.15 at 11:12 pm

#12 Waiting:

Your last line says, “force the Conservatives closet”. Didn’t they run in there all by themselves?

#76 West Coast on 09.21.15 at 11:14 pm

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/11835603/Abolish-cash-Youd-be-losing-a-crucial-part-of-free-society.html

not exactly on topic….but Garth could you give us your opinion on the abolition of cash……apparently in France, as of August 31, 2015, it is illegal to use cash for transactions worth more than €1,000, or slightly more than £700. On one level, that is about “combating crime and terrorism”. But on another, it is also part of a growing movement among academics and now governments to gradually ban the use of cash completely.”
Isn’t there something very worrying about giving governments the ability to track every single transaction…….okay, perhaps we are already there and I’m living in a fog…………your thoughts?

#77 Millmech on 09.21.15 at 11:16 pm

#58
Yup he will get a lot of votes from the Smokanagan area,you ever notice that people that smoke it seem to lack ambition and are always broke,kinda something the NDP would have this on their agenda as it suits them.

#78 Baph on 09.21.15 at 11:31 pm

http://imgur.com/n8LMP3D

Just wanted to share this as a reflection of our times.

When they advertise cat food, because you don’t have money for real food. This housing bubble is getting ridiculous.

#79 Nagraj on 09.21.15 at 11:34 pm

I was gonna commend JIM H for softening GT’s perhaps unnecessarily sharp reply to LLEWELYN (who is an impressive critic) but we have this to deal with:

PIG GATE! PIG GATE! PIG GATE!

Evidently some guy who don’t like British PM David Cameron has let out that David Cameron did a disgusting and obscene thing to the SEVERED HEAD OF A PIG!
Evidently this horrible thing happened at a ceremony at the Piers Whatever club at Whatever University. You can read all about it in the UK papers.

If it weren’t bad enuff that the ANTICHRIST has appeared in the form of an Englishman (Jeremy Corbyn) now this PIG GATE thing!

Of course Mr. Corbyn, a Republican atheist, has made it clear from day 1 that as for “God, Queen, and Country” he has zero use for the first two items.

This is all especially interesting because Canadian MSM just can’t handle this kind of – real simple – stuff. Eh?
Like the CBC even sports rather regal and practically sanctified news anchors, even the Queen of England reading the news would be less ridiculously serious.

#80 chapter 9 on 09.21.15 at 11:41 pm

#55 Harper you are going to lose
BTW I am voting Liberal. I can’t vote for commie NDP…

Junior was asked ,which country he admired the most and his reply “China because having a dictatorship can allow it to turn the Chinese economy around “on a dime”.
How things come full circle. Before Pierre got fully engaged in running this country into the ground he spent over a month touring communist China in 1960. This was the height of the great leap forward where Mao was transforming China into a communist state. Between the army and secret police million of Chinese peasants farmers were forced off their land and onto collective farms. Millions were forced into factory jobs working sixteen plus hours a day. If you didn’t go along you were shot or starved to death. It is estimated 45 million perished in the worst holocaust in human history.
Trudeau’s account of the trip, he praised the Chinese government and the advances they were making in health, education and the rights of the poor.

#81 Brian on 09.21.15 at 11:42 pm

My friends in Port Moody live in this complex. Chinese just bought this unit for 34k over asking just because. Now the realtor is gloating about how great they are
http://vancouver.craigslist.ca/pml/reb/5161347630.html

#82 Dee on 09.21.15 at 11:47 pm

The fake Lisa story kind of blows my mind. I’ve never understood this obsession with keeping your kids in the same place forever. I moved at age 4, 11, 11 again, 14, and 18. I don’t look back on any of that with sadness. If anything, it meant that, by the time I got to adulthood, I’d seen more and had more experiences than most people.

(I suspect my willingness in my 20s and 30s to pack up and move when jobs warranted, rather than sit around my hometown unemployed, comes at least a little from that. Liquidity and flexibility!)

Then again, I’m commenting on a blog, so maybe I’m not as well-adjusted as I’d lke to think…

#83 BS on 09.21.15 at 11:48 pm

Mulcair will bring in affordable housing, why not him, his plan makes sense?

Mulcair will give tax breaks to developers. The theory is they will build more rental units which will bring rents down. Flawed plan.

There will be no more net housing built. Currently developers are already building everything they can acquire land and have the resources to build. All of that ends up as housing stock whether it is purpose built rental units or condos which will be sold and either lived in or rented out. Same amount of net housing. Mulcair’s plan in theory would reduce the supply of condos and create more purpose built rentals. Probably makes no significant difference on prices either way but if anything it means higher prices for condos (less supply), higher prices for rented condos (less supply) and lower prices for purpose built rentals (more supply). Of course with less condos for rent and less people being able to buy a condo the purpose built rentals get bid up (more people need rentals). Net housing does not change. The only certainty is the developers pay less tax and make more money (otherwise they won’t do it).

Only the NDP could come up with such a flawed plan to bring in ‘affordable housing’. Laughable.

#84 young & foolish on 09.21.15 at 11:50 pm

“… why can’t people just look at the valuations and say… too rich for me right now and wait for the cycle to return closer to normal valuations?”

This is exactly what I wonder? Nobody is forcing people to buy.

#85 Bob dog on 09.21.15 at 11:52 pm

I’m just renting in vancouver and waiting for the cascadia subduction zone to level the playing field (literally). I just hope in walking in Stanley park when the mega thrust quake finally comes. Yes I’m bitter.

#86 Herf on 09.21.15 at 11:54 pm

As a follow-up to my earlier post:

In my previous post was a link to TheRebel.media in which Brian Lilley mentioned that the Ontario green energy program was the brainchild of a fellow named Gerald Butts, an adviser to the McGuinty government. In the following link, Lilley provides deeper insights into the Ontario green energy program, Butt’s role in creating it, and it’s major contribution to the loss of Ontario manufacturing jobs. Also included is a clip where Butts clearly states he wants to see Canada 100% off of fossil energy sources my mid-century. Gerald Butts is now one of Trudeau’s top advisers.

http://www.therebel.media/trudeau_advisor_gerald_butts_green_energy_policies_cost_ontario_300_000_jobs_admits_liberal_think_tank

#87 Ponzius Pilatus on 09.22.15 at 12:01 am

Read the article. He is only proposing a tax break for builders of rental units. To the NDP, ‘housing’ means ‘renting.’ — Garth
——;—-
Half of Cantral Europe is renting,
Nothing wrong with that in my books.

#88 Basil Fawlty on 09.22.15 at 12:04 am

What is the % of Canadians that invest $10000 in a TFSA? One has to be relatively wealthy to invest that much annually.

#89 Ponzius Pilatus on 09.22.15 at 12:05 am

Time to bring out the fiddles and play “Sad Lisa” by Cat Stevens.

#90 Ed on 09.22.15 at 12:18 am

” a government with a policy to rob Peter to pay Paul can be assured of the support of Paul.“– George Bernard Shaw

(meant for yesterday’s post, and the edification of the dippers here everyday)

#91 young & foolish on 09.22.15 at 12:25 am

Why do so many Anglo-Saxon economies have high house prices?

#92 Randy Randerson on 09.22.15 at 12:26 am

#67 Mister Obvious on 09.21.15 at 10:35 pm

You’re right M.O. I’ve looked into relocating to US with my healthcare license, but it is a bureaucratic nightmare. I have to find a sponsor/employer who would sponsor my VISA, then I’d have to deal with tax issues as I have a CCPC in Canada. After all that, I would have to deal with each individual state’s own licensure exam. It’s headaches on top of headaches.

I now wish I went down for my schooling.

#93 Nosty, etc. on 09.22.15 at 12:31 am

#40 Smoking Man on 09.21.15 at 8:12 pm — “Every industry you know not required.” Except retirement, which is highly enjoyable!
*
Further info. on the TPP, the elite etc.; Coincidence Theorists It’s not just Europe; Janet Yellin Another political hack; Rising CO2 levels Regreening Africa’s deserts, and Debunnking human caused GW nonsense (from NASA); Robots, AI and Designer Humans.

#94 Randy Randerson on 09.22.15 at 12:40 am

#73 Rexx Rock on 09.21.15 at 10:57 pm

Are you a dumb dumb?

http://www.statcan.gc.ca/tables-tableaux/sum-som/l01/cst01/famil107a-eng.htm

Median income for all family type in Van is just a bit over $70k, pre-tax.

#95 Great Canadian Bubble Co. on 09.22.15 at 12:42 am

Can anyone explain why property taxes are so low in Vancouver? I mean the official reason?

#96 young & foolish on 09.22.15 at 1:11 am

Justin and Mulcair are willing to nip your TSFA contribution room, but are they willing to close down practices like the one offered by the “keepers of the public treasury” KPMG to the 1%ers?

#97 betamax on 09.22.15 at 2:39 am

#47 A Nobody: “At what point are all the housing bears for GTA and Vancouver RE on this site going to re examine e their position on the matter and either decide that the point of view just might be wrong ?”

Problem is that housing fundamentals are out of whack due to a credit bubble, and a correction is inevitable. So, many years of being wrong will eventually be made right.

Will those years be compensated for? Depends if you invested your money in the meantime, or if it just sat in the bank.

As for today’s blog, I’ve been renting for years, never had a problem with a landlord. They’ve always bent over backward to accommodate us, and we’ve never had to move out of a place. They’ve fixed the place, cut the grass, etc etc etc. Life is easier for us than them.

#98 Russ on 09.22.15 at 2:45 am

Herf on 09.21.15 at 9:55 pm

Trudeau wants to establish a national child/day care system similar to the one in Quebec, and implement a national green energy program similar to the one in Ontario.

Trudeau is deceiving the public about what he means by the word “infrastructure”. Two-thirds of his proposed spending doesn’t involve infrastructure such as buildings, bridges and roads as most people invision, but rather, involves spending on social programs.

Better yet, read reports about the bankruptcy of Solyndra in the U.S. after Obama gave it $500 million to produce solar panels. You can search online for “Solyndra” and find tons of stories. Here’s a few to get you started:

http://www.nbcnews.com/id/44350029/ns/business-going_green/#.VgCxRZdyXBw

http://watchdog.org/235818/solyndra-autopsy-energy/
——————————————————-

Hey Herf.

Good warning about Jus and his lack of understanding but you lose a lot of cred with the Obama example. That’s not much of a mistake for the good ol’ US of A.

To wit, Glen Clark & the B.C. NDP put almost 500 million of taxpayer money into the old pulp mill he worked at in Prince Rupert (past union president or something like that), it went bankrupt within a year and another 1/2 o’ billion into the Fast Cat Fairy Fiasco.
Hell, we’re not much more than L.A. for crying out loud.

500 million for Obama. Peanuts!

#99 Mark on 09.22.15 at 2:47 am

“In reality food costs are soaring…and now the confirmation from business that all prices are soaring.”

Sounds like a bunch of wishful thinking from the retail council. Prices are not rising because Canadians simply don’t have the money to spend. They’re tapped out on debt. And import prices haven’t risen much as the US has very little pricing power on its exports due to the abnormally strong USD$ relative to the rest of the world.

The trade deficit is rapidly closing in reflection of this, and sooner or later, with a bit of help from the highly cyclical sectors of Canada’s economy, the loonie should start another upwards leg.

As for the retaillers, they’ve enjoyed glorious margins compared to their US counterparts for much of the past decade or two. They’re going to be the ones eating any currency differentials that might not go in their favour. Not the consumers who simply don’t have the money to spend. There is no inflation, only deflation, on the horizon.

#100 nubbers on 09.22.15 at 3:59 am

I think I met Lisa’s dad once. He was a grunt moving our furniture and we got chatting.

He had bought into the late 80’s housing bubble in the UK. Interest rates went up so they couldn’t keep up with the payments but house prices had crashed, so there was no escape because of the negative equity.

The bank repossessed the house and sold it for a lot less than the mortgage. A few years later the bank pursued them for the money, whereupon they were still barely scraping by, still renting but now also paying back a huge loan (+interest at non-secured rates).

It is really sad to think how many Lisas there are out there who are going to know poverty and misery beyond their parents’ wildest imagining. Almost as bad is the thought that the house pornographers responsible will never be brought to justice.

#101 Fed-up on 09.22.15 at 4:23 am

I’m not sure if this link has been posted before, but there are many poignant and valid points made by the guest Marc Cohodes.

We’ve been warned, yet again.

http://www.cbc.ca/radio/day6/episode-244-shorting-canada-saving-lion-cubs-the-end-of-blacks-photography-and-more-1.3175257/betting-against-the-canadian-real-estate-market-is-a-bubble-about-to-burst-1.3175268

#102 Londoner on 09.22.15 at 6:40 am

#47 A Nobody

I think they kind of have re-evaluated their position. At least I think they realize that the upward influence on prices from extended amortizations during the mid 2000’s gave way to similar forces from low interest rates after 2008. What needs to change is the constant misinterpretation of central bank monetary policy and demand side economics. All else being equal, the argument for overvaluation is a valid one. But, of course, this is only limited to a very small group of people who actually understand the dynamics. Everyone else just likes to follow populist opinion.

#103 Londoner on 09.22.15 at 6:44 am

#62 Smoking Man

Is the VW scandal a conspiracy to keep the O&G industry alive?

#104 GregW. on 09.22.15 at 6:48 am

Hi #15 Ahmed,

I think I heard Mr. G. mention to for someone or something, just not against someone or something.

There are more than three options to vote for in most places.
Check out what option you have in your area under the
‘Your list of candidates’ on the ‘elections Canada’ web site. Just add your postal code to see whom are the option.
Then have a closer look at them. Yes I know it takes a bit of looking on your part. You might even want to attend a local debate or two. Send the people running your pressing questions to see what they may be planning too.
http://www.elections.ca/content2.aspx?section=can&document=index&lang=e

My guess is Mr. G. will vote ABCH, but I could be wrong.
Only Mr. G. knows for sure whom he will vote for.
And it’s his right to vote for whomever he wants.

I’d vote for Mr. G. but that’s not happening ‘again’, not ever is my best guess.

#105 IHCTD9 on 09.22.15 at 7:29 am

#242 Bytor the Snow Dog on 09.21.15 at 2:19 pm
# 235 IHCTD9

Typical Neo-Con tactic- attack the poster when you can’t attack the post.

You know nothing about me chump. Where did I say in any of my posts I was concerned with what others make?

I did not. I stated hard work doesn’t = rich. And it doesn’t.

Apparently those studies about neo-cons being less intelligent ring true.

__________________________________________

Hi chump:

Something about your post smells musty, like mold or something – mildew?

Why don’t you stop blubbering, and move out of the basement? Don’t want to do all that useless go-nowhere hard work?

You’re wrong, the sooner you admit it, the sooner you can move where the sun does shine.

#106 TJM on 09.22.15 at 7:36 am

@EB#14″Yeesh, it’s an agreement between two parties, not indentured servitude. Both have responsibilities and rights under it. If anything I hear landlords complaining a lot more frequently and vocally about how few right they have relative to their tenants in BC.”

Yeah, true up to a point. But when you’re a renter, especially in a town where it’s hard to find good rentals at a reasonable price, you feel like you have to walk on eggs. It’s like when you lose your job and have to get a new one–you may objectively be a great employee and your employer is lucky to have you, but the experience of being the one looking damages your ability to stand up for yourself for awhile. I know I’m a great tenant and my landlords love me, but I still go out of my way not to ask for things–even things I’m entitled to under the lease–because sometimes it feels like that extra bit of goodwill may make the difference between them deciding to jack up my rent or not, or to take over my place instead of one of the others. Quite possibly a totally irrational mindset, but people are irrational.

#107 IHCTD9 on 09.22.15 at 7:40 am

#100 nubbers on 09.22.15 at 3:59 am
I think I met Lisa’s dad once. He was a grunt moving our furniture and we got chatting.

He had bought into the late 80’s housing bubble in the UK. Interest rates went up so they couldn’t keep up with the payments but house prices had crashed, so there was no escape because of the negative equity.

The bank repossessed the house and sold it for a lot less than the mortgage. A few years later the bank pursued them for the money, whereupon they were still barely scraping by, still renting but now also paying back a huge loan (+interest at non-secured rates).

It is really sad to think how many Lisas there are out there who are going to know poverty and misery beyond their parents’ wildest imagining. Almost as bad is the thought that the house pornographers responsible will never be brought to justice.
____________________________________________

This is true, many will get slaughtered. But I don’t feel so bad, such is the fate for those that can’t control their own actions to their betterment. No one put a gun to their heads, and these same folks are the ones providing the positive affirmation to the realtors.

Some folks are destined to be poor, and live a life of misery – and there is not a damn thing we can do about it.

Just about everyone I know is acquainted to at least one individual who’s life is a train wreck. You try to help them, they don’t listen. Hell, there are millions of them. And the kicker is, they vote to make their situation worse.

Nothing you can do, you can’t change people, just about everyone has to learn the hard way.

#108 IHCTD9 on 09.22.15 at 7:43 am

#7 Chris on 09.21.15 at 5:48 pm
Rent to own became popular after the last US housing down turn. The rationale was that the people that do rent to own don’t really end up buying the house usually but while they are in the program they take better care of the house because they think they are the owners rather than renters.
____________________________________________

Hmmm, and maybe they can tell other people it’s “their house” that way…

#109 broader mind on 09.22.15 at 8:03 am

A master criminal with a fair bit of wealth buys his 10 children each a house in the same neighborhood.Each house costs $100k for a total investment of 1 million.From time to time he has his children swap houses for ever increasing amounts such that the most recent sale is 400k. This never really cost him anything since he was just paying himself.Upon appraisal he now has 4 million worth of houses.The master criminal takes 3 million in cheap mortgages out and skips town leaving his children with 300k each in mortgages.He convinces them its a good deal on homes worth 400k. The children continue the game for a while but eventually realize that the homes need new roofs,furnaces…and start to lose money.They try to sell to outsiders to relieve themselves from crushing payments.Outsiders appraisals see 100k houses.In summary the master criminal = Canadian banks/gov,the neighborhood = Canada,10 children = Canadian citizens,leaky roofs…= Canadian infrastructure,and outsiders = Countries warning us (shorting) about real estate values.It’s not hard to see where our Canadian dollarette is headed .Do you want to own a house when the music stops? It’s now.

#110 IHCTD9 on 09.22.15 at 8:49 am

Final/
.#5 Bobs ur uncle on 09.21.15 at 5:37 pm
I’ve had that happen to me twice over the past four years – landlord decides it’s time to move back to town or sell. It sucks, but I’ll still take it over the costs of a new roof, new toilet, new bathroom floor, fridge repair, and new sewer connection, all of which were required over those four years. The cost of all the repairs exceeded the rent I paid over that time. Not to mention mortgage interest payments and taxes. And house prices here have, at best, been flat the whole time. Who’s throwing their money away?
___________________________________________

I just recently finished paying off my house, and at that time, I thought it would be fun to see if I had “made” any money on the house over the mortgage period of 14 years.

Now, I did all the repairs and maintenance myself other than replacement of an old hydro pole that ended up being my responsibility for replacement. I did additions, renovations, new roof, two new decks, plumbing electrical, removal of a big barn, you name it. I paid for materials only, and I exploited my connections to great effect saving huge on the cost of those.

I had a rate of 6.4 for the first term, and a sub-prime variable (that went down to less than 2% at one point) for the second, and finished up around 3.something the third term. So borrowing costs were VERY low, and we fired lump sums at the debt semi regularly on top, AND paid the same monthly payment as if it was at 6.4% the whole way thru, even though the payment decreased with the interest rate.

During this time, my house appreciated approximately 150% at the peak, and since has decreased to approx. +100%.

So I must have just made a killing on it for all my labour and material savings, accelerated payments, and regular lump sum dumps right?

I figure about 1% per year. This number does not account for:

Heat
Hydro
Fire permits
Household garbage disposal
Public dump fees
Furnace maintenance
WETT inspection fees
Building permits
Mower acquisition and maintenance
Snow removal equipment acquisition and maintenance Septic tank pumping
Well testing and maintenance
ESA inspections
TSSA collars for Oil tank
These add up to thousands more.

If you finance a house, and live there for decades, it is impossible to actually turn a real profit on it. It becomes a lifestyle decision. I really will be selling the house at a loss someday, but I am honest about the real cost of ownership.

I know a lot of guys who sell after 20 years living there, take the 100K purchase price off the 300K sell price and say they made 200K LOL!

#111 ALBERTASTROPHE on 09.22.15 at 8:57 am

Sad tales from Alberta this morning. People laid off from good jobs looking for work, or selling popsicles on the street, or auctioning off their trucks bought just in the last year.

One realtor interviewed describes how things “are just getting really tense right now”, and “it’s a real indicator of what’s coming, people are losing their confidence”.

Sums up what I have seen, heard and felt. It’s going to be a dark and increasingly desperate winter, I am sadly certain.

http://www.cbc.ca/radio/thecurrent/the-current-for-september-22-2015-1.3238137/meet-calgarians-impacted-by-economic-downturn-making-a-new-life-1.3238161

#112 Ralph Cramdown on 09.22.15 at 9:26 am

#47 A Nobody — “At what point are all the housing bears for GTA and Vancouver RE on this site going to re examine e their position on the matter and either decide that the point of view just might be wrong ?”

Just as a bear in any position with carrying costs has an obvious opportunity to rethink his views at the periodic payments, so housing bears likely reëxamine their beliefs monthly when they write the rent cheque.

#113 broader mind on 09.22.15 at 9:27 am

In the face of a giant economic meltdown Canadians had a massive party and laughed in the neighbors faces.Me thinks we’ll be spanked now and this is gonna hurt.Just remember the host of the party was Harpie and now we must pay.Fun while it lasted.

#114 broader mind on 09.22.15 at 9:36 am

Canadian’s lament- why oh why did I drink so much coll-aid this hangover is going to life altering

#115 Llewelyn on 09.22.15 at 9:58 am

#109 Broader Mind

An amusing take on reality. The list of usual suspects should be expanded to include the thousands of individuals whose income, or political careers, relies on faith that the market value of real estate will increase over time and that interest rates will not increase in the foreseeable future. At some point reality begins to nibble at faith and those nibbles soon turn into bites. When reality begins to bite faith can turn into panic overnight.

Today reality is only sniffing around our faith in the housing market but most Canadians are aware that nibbles and bites are a distinct possibility. As Garth has pointed out on many occasions that it is much easier to liquidate investments when the nibbling begins than it is to sell your house. Even if you sell at a substantial loss you may still be responsible for debt service related to the original mortgage. Honey I thought our mortgage was insured!

Ask yourself whether you would buy a house if flames were licking at the trees across the street. Neither would I!!

#116 Renter's Revenge! on 09.22.15 at 10:20 am

#112 Ralph Cramdown on 09.22.15 at 9:26 am
“#47 A Nobody — “At what point are all the housing bears for GTA and Vancouver RE on this site going to re examine e their position on the matter and either decide that the point of view just might be wrong ?”

Just as a bear in any position with carrying costs has an obvious opportunity to rethink his views at the periodic payments, so housing bears likely reëxamine their beliefs monthly when they write the rent cheque.”

So true. Every time I pay the rent for my apartment, I think, “If I owned a condo the same size, I would paying more in interest, taxes, fees and utilities than I pay in rent. Meanwhile, the companies I own shares in are raising their dividends faster than my either my salary or rent is increasing. I guess I should keep renting.”

#117 Bytor the Snow Dog on 09.22.15 at 10:56 am

@105 Tractor Boy-

Hi chump:

Something about your post smells musty, like mold or something – mildew?

Why don’t you stop blubbering, and move out of the basement? Don’t want to do all that useless go-nowhere hard work?

You’re wrong, the sooner you admit it, the sooner you can move where the sun does shine.
————————

Don’t wory about me son, the sun is shining brightly where I’m at. Totally unlike the spot where your head is…..

#118 Bytor the Snow Dog on 09.22.15 at 10:59 am

@Herf- Conservative Party paid poster much?

#119 Lea on 09.22.15 at 11:30 am

#95 Great Canadian Bubble Co.

I wonder why property taxes are so low as well. How can a $1,000,000 house in North Vancouver only pay $4,800 in property taxes? <- those #s are off a realtor's flyer so I am certain they are not accurate, but even so they are below .05%.

#46 White Crock BC

Yes, I have been to Blaine and all I can say is that it is better border town than Tijuana which isn't saying much. Living in Blaine is not a realistic alternative just an amuse roof for real estate shoppers.

#120 Leo Trollstoy on 09.22.15 at 11:31 am

In reality food costs are soaring…and now the confirmation from business that all prices are soaring.

http://www.bnn.ca/News/2015/9/21/Canadian-retailers-set-to-boost-prices-as-loonie-sinks.aspx

Definitely true. Inflation in food is real and accelerating. This is a consequence of the CAD falling over the last 2 years.

Maybe the CAD will stabilize. Maybe not. Either way, anything Canadians import from the U.S. will be more expensive.

#121 Leo Trollstoy on 09.22.15 at 11:33 am

I think Garth is right …. to say … we need to encourage more millionaries not “billionaires or poor” people !!!? However for most people they appear to want to punish millionares ?

I agree.

Most people are poor and jealous.

Nice combination.

#122 Smoking Man on 09.22.15 at 11:37 am

#103 Londoner on 09.22.15 at 6:44 am
#62 Smoking Man

Is the VW scandal a conspiracy to keep the O&G industry alive?
…….

Punitive punishment for warming up to putin again.

#123 Nora Lenderby on 09.22.15 at 11:39 am

Back in the ’80’s I had knew a family (not very well-off, nor very bright) who “bought” a piece of land in the Eastern Townships, a “cottage lot near a lake” for a small amount down and regular monthly payments.

It was actually about 2 km from the nearest lake, up a sheer hillside where a bulldozer had been a couple of years previously (i.e. one could walk in but only wearing boots).

The developer “lent” them another lot nearer the lake “until we put the road in”.

It was basically an expensive campsite and the family soon stopped paying after a year or so (and lost all their money).

I think the family had a nice dream for a while.

#124 Randy Randerson on 09.22.15 at 11:46 am

#81 Brian on 09.21.15 at 11:42 pm

But it’s in Port Moody, not exactly a great place to live because you need a car to go anywhere. The only saving grace is the Boathouse restaurant, perfect place to take your date.

When the realturds said it was sold $32k above asking, how do we know that they didn’t set the price at $50k below assessment? Realturds will always be realturds.

#125 IHCTD9 on 09.22.15 at 11:54 am

#60 Herf on 09.21.15 at 9:55 pm
___________________________________________

Excellent info Mr. Herf, thanks for posting it.

#126 IHCTD9 on 09.22.15 at 11:57 am

#117 Bytor the Snow Dog on 09.22.15 at 10:56 am

Don’t wory about me son, the sun is shining brightly where I’m at. Totally unlike the spot where your head is…..

________________________________________

No worries guy – I just wanted to confirm your age.

Cheers!

#127 bdy sktrn on 09.22.15 at 12:28 pm

Land prices for Blaine area are not 1/2 the price of distant 604, more like 1/10.

You can buy nice, cleared, flat land for as low as 8k/acre cdn. (10+ac parcels)
Distant langley is near 100k/acre

both 45 min from d/t. no tolls to usa (nexus is 10/yr). no border waits.

many things are super cheap. i laughed at the cheese comment as i had just come home with a half a big cooler stuffed with it:) (and not just any cheese, costco cheese. A bag of fresh parm bigger than my substantial head – spagetti for 50, anyone?)
gas 2.25/gal yesterday

some items are near the same sticker price, buy those in canada. win win. some are much lower in 604 as if the weaker loon has not pushed through yet.

nice people. all the space you could want, for peanuts.

Buy a nice studio in the city near work for 220k for mon-thu nite and have an acreage/shop/huge yard/privacy/big house in US for 300k for fri-sun.

Still have half a mil left over vs buying just one place in langley. save tons on gas/jd/smokes etc. no commute except once/week and can be done when roads are empty.
no prob getting a ‘source’ if you like the green, the adults are in charge down there.

Just keep it under 120something days according to their formula and enjoy the vast benefits of the US while keeping all those of canada.

#128 Joe on 09.22.15 at 12:41 pm

DELETED (Anti-Chinese)

#129 Marquis de Sale on 09.22.15 at 12:55 pm

One for you Smokey Man!

https://www.youtube.com/watch?v=41CXLyllvKk

#130 bdy sktrn on 09.22.15 at 1:01 pm

#119 Lea on 09.22.15 at 11:30 am
#95 Great Canadian Bubble Co.

I wonder why property taxes are so low as well. How can a $1,000,000 house in North Vancouver only pay $4,800 in property taxes? <- those #s are off a realtor's flyer so I am certain they are not accurate, but even so they are below .05%.
——————————
1M mkt value house is 4k tax, even lower.
no wonder here. that's what 12/cambie needs to pay the bills. mature city. not developing new 'hoods. about the same as anywhere else on an absolute basis. when/if houses double again taxes will still be about the same as the costs don't change that much.
easy.

further to blaine – it's a teeny tiny country village kind of place. don't come looking for the bright lights. Lynden is close and nice and small too. Bham has about anything you'd need.

#131 SWL1976 on 09.22.15 at 1:13 pm

#60 Herf

Trudeau wants to establish a national child/day care system similar to the one in Quebec, and implement a national green energy program similar to the one in Ontario.

Cough cough – Agenda 21, Future earth, Agenda 2030 what ever you want to call it.

Trudeau is deceiving the public about what he means by the word “infrastructure”. Two-thirds of his proposed spending doesn’t involve infrastructure such as buildings, bridges and roads as most people invision, but rather, involves spending on social programs.

Perhaps we should take a closer look into JT’s late father’s deal he made with the Bank of Canada and the BIS (Bank for International Settlements). See, up until 1974 the Bank of Canada could lend money to the people of Canada interest free, to support this great Nation through the war years, to build the St Lawrence Seaway, the Trans Canada Hwy, and other major projects.

Since the international bankers have gotten ahold of our money supply in 1974 care of Pierre Trudeau, a former Bilderburg attendee we have been constantly chasing compound interest payments on debts for money created out of nothing. So, until this corrupt system is delt with; I would expect the new boss to be the same as the old boss.

Don’t get me wrong I want Harper out as much as the next guy, but like the point Garth has been trying to make here; basically our options suck.

SM – I was thinking the same thing about VW. Convienient timing, considering Germany’s position on the global chess board.

If there is a link to the story I’m sure Nosty will find it

#132 IHCTD9 on 09.22.15 at 1:24 pm

#76 West Coast on 09.21.15 at 11:14 pm
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/11835603/Abolish-cash-Youd-be-losing-a-crucial-part-of-free-society.html

not exactly on topic….but Garth could you give us your opinion on the abolition of cash……apparently in France, as of August 31, 2015, it is illegal to use cash for transactions worth more than €1,000, or slightly more than £700. On one level, that is about “combating crime and terrorism”. But on another, it is also part of a growing movement among academics and now governments to gradually ban the use of cash completely.”
Isn’t there something very worrying about giving governments the ability to track every single transaction…….okay, perhaps we are already there and I’m living in a fog…………your thoughts?
____________________________________________

This is probably not something for us Canadians to worry about just yet. It would be way too easy to a Canadian to deal in US cash if they took ours away. Just like Zimbabwe, their currency inflated out of existence, and now the locals use Euros and a couple other currencies to do business. And this type of policy would drive schemes like Bitcoin thru the roof, thus doing the opposite of what regulators are trying to achieve. No chance that eliminating cash will hinder crime or terrorism though, only law abiding regular folks will be affected (negatively).

Cash definitely is freedom, so we can expect those same attempts over here before too long. Just won’t do what they hope it would do so long as the US still deals with cash money.

I wouldn’t stop worrying altogether though…

#133 bdy sktrn on 09.22.15 at 1:29 pm

long as the US still deals with cash money.
————————————–
freedom is real to them yanks. take cash away? huh, better get their guns first.

not gonna happen.

#134 bdy sktrn on 09.22.15 at 1:37 pm

us equities are demanding that yellen get off the hard line talk of impending raises.

promise zirp till 2017 or we throw a fit.

#135 Get a grip on 09.22.15 at 1:40 pm

#51 Smoking Man on 09.21.15 at 9:01 pm

https://youtu.be/1e5IqDtxUuE

You all remember when said I was heading to boston. Said Ive never been..well that was a fib..We had a meeting earlier in the year.

The large plasma ball is our Mother ship.

First orb is Ashman, all the way to the right.
Next is his father Isaac.
Next is Blythe Barrington then Jeremiah Jones.

Guess where I am… Centre stage of cource.

Enjoy the clip…for a better affect, play the Immigrate song by Led Zeppelin

Its all in my book.
————-
It’s all in the comments in another video.
“This is fake idiots. It’s a computer program and it was filmed on a computer lmfaooo watch when the cameraman pans left and right u will see outer edge where screen cuts off computer lmao”

https://youtu.be/Kp4jxRPCaz8

#136 bdy sktrn on 09.22.15 at 1:42 pm

http://www.vancouversun.com/business/million+dollar+land+assemblies+speculate+zoning+changes/11380019/story.html

The sale of seven older houses on the Granville Street block between 45th and 47th avenues earlier this year netted the owners over $22 million.

The buyer is Hui Xiang International Realty Developments Ltd., a B.C. incorporated company with directors who list their address in Wenshan, a city in China’s far-flung southwestern province of Yunnan, which borders Myanmar, Laos and Vietnam. It’s also the location of their Wenshan Huixiang Real Estate Company, a former auto parts maker turned property developer.

The sale offers a more detailed glimpse at one example of the oft-referenced, but faceless mainland Chinese investor at the heart of the debate over Vancouver housing affordability.

It also set the bar for other land assembly sales on this part of Granville Street, said Macdonald Realty agent William Lew, who is listing a row of “up to 11 houses” farther south between 49th and 52nd avenues.

To the north, Dexter Associates Realty agent Surinder Holat is offering a block of six homes between 45th and 43rd avenues. She hasn’t hung street signs declaring them for sale, but has run “low-key” ads: “A rare opportunity for investors to acquire a potential development site … There is a possibility in the street corridor for multi-family developments to replace single-family homes in the future.”

Prospective buyers would be taking a gamble.

This stretch of Granville is zoned single-family, and City Hall has said it is not designated for rezoning. The companies buying properties here are holding them for future development, something the city has been trying to discourage.

#137 IHCTD9 on 09.22.15 at 1:49 pm

#133 bdy sktrn on 09.22.15 at 1:29 pm
long as the US still deals with cash money.
————————————–
freedom is real to them yanks. take cash away? huh, better get their guns first.

not gonna happen.
___________________________________________

Exactly, taking cash away would be just as hard as trying to take their guns away. Plus their currency is circulated all over the world.

Sometimes I worry for the US, other times certain little truths arise to reinstate my faith :).

#138 OXI in GREECE !! on 09.22.15 at 1:55 pm

#37 Not be fooled again on 09.21.15 at 8:00 pm
As Clown Prince Poloz misstates the effects of his lunatic loonie policy. ( he says his crushing of the loonie is taking the pain out of our system) bwhahahahahahha…the planet we live on is becoming sickeningly more real.

In reality food costs are soaring…and now the confirmation from business that all prices are soaring.

http://www.bnn.ca/News/2015/9/21/Canadian-retailers-set-to-boost-prices-as-loonie-sinks.aspx
<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<

They can try……all it will do is fuel the barter economy and hopefully all the "tubbies" around town can lose some weight……

#139 made up my mind on 09.22.15 at 2:00 pm

I’m voting for Harper. Trudeau isn’t ready (where have I heard that before) and Mulcair never was.

#140 Chris on 09.22.15 at 2:02 pm

Hey Garth – you keep mentioning how the Libs and NDP are going to roll back the TFSA to 5500. However, I believe I read that the Libs are going to reinstate the inflation adjustment so that the value can keep rising gradually. The Cons stopped this. At least one review of this noted that over a period of years, the inflation adjustment might be worth more than the initial increase to 10 k. I don’t know if the NDP promised anything on this one way or the other. Comments??

I hope you live a long time. — Garth

#141 Star Stuff on 09.22.15 at 2:09 pm

#135 Get a grip on 09.22.15 at 1:40 pm

#51 Smoking Man on 09.21.15 at 9:01 pm

https://youtu.be/1e5IqDtxUuE

You all remember when said I was heading to boston. Said Ive never been..well that was a fib..We had a meeting earlier in the year.

The large plasma ball is our Mother ship.

First orb is Ashman, all the way to the right.
Next is his father Isaac.
Next is Blythe Barrington then Jeremiah Jones.

Guess where I am… Centre stage of cource.

Enjoy the clip…for a better affect, play the Immigrate song by Led Zeppelin

Its all in my book.
————-
It’s all in the comments in another video.
“This is fake idiots. It’s a computer program and it was filmed on a computer lmfaooo watch when the cameraman pans left and right u will see outer edge where screen cuts off computer lmao”

https://youtu.be/Kp4jxRPCaz8
———————————–

Putin’s gonna begin full disclosure to bring down the western world… hopefully the nectonites can tip off the blog dawgs.

https://www.youtube.com/watch?v=JSm3rVCzC50

#142 Joe on 09.22.15 at 2:14 pm

Re #139
Can you articulate why you think Trudeau is not ready or are you just another ill informed person who is gullible enough to fall for the overly simplistic Harper attack ads? Are you even aware of the differences in the leaders platforms? Do you have the faintest clue of Harper’s abysmal record? His anti democratic policies?

#143 bdysktn on 09.22.15 at 2:27 pm

IMF’s Lagarde says downside risks to global growth increased

#144 waiting on the westcoast on 09.22.15 at 2:37 pm

#75 fruitypunk on 09.21.15 at 11:12 pm
“#12 Waiting:
Your last line says, “force the Conservatives closet”. Didn’t they run in there all by themselves?”

LOL – oops, meant closer..

It is interesting that the the Liberals view the NDP as the risk. They end up playing to the Conservatives strategy and split the left.

Being small c conservative, that is OK for me but I would definitely prefer the conservatives to move more left on some issues. The only way they would do that is to feel a risk of losing people like me (which won’t happen as long as the Liberals hang out so far to the left and talk encouragingly about bigger deficits and more taxes.)

#145 Mark on 09.22.15 at 2:51 pm

“However, I believe I read that the Libs are going to reinstate the inflation adjustment so that the value can keep rising gradually.”

Given that deflation, not inflation, is a far more likely path for the future, the assumption can be made that it is the intent of the Liberals to shrink the TFSA.

I personally predict that governments will be forced to index a whole plethora of other benefits to deflation as well to keep the books reasonably balanced in the future.

#146 2013 jetta TDI low kms on 09.22.15 at 2:52 pm

for sale. no smoke, lots of power.

the germans lied (and designed, and coded and tested and installed/incorporated and sold) a true whopper and the americans caught’em – wow.

” European and American researchers allied together with the intent of actually demonstrating that American vehicles, which were supposedly built to these more stringent standards, could run much cleaner than the European cars were actually achieving. Unfortunately, the results of real-world US driving between San Diego and Seattle pointed firmly in the opposite direction. The Jetta and Passat both blew past the legal US limit by up to 35x and 20x respectively. Minimal emissions on the Jetta were 15x worse than allowed by law, whereas the Passat was 5x worse. The BMW X5, in contrast, passed the strict US limits.”

30billion vaporized in 2 days – i see more to come.

#147 Herf on 09.22.15 at 2:52 pm

#98 Russ

“Hell, we’re not much more than L.A. for crying out loud.

500 million for Obama. Peanuts!”

So, you believe government should get involved in funding private enterprises with the idea of losing tax payers’ money, just not necessarily as much as they could, based on population?

Solyndra was just one of several green energy companies that Obama funded, that failed or were failing after taking $millions each in government hand-outs. Solyndra might have been the largest or one of the largest, but they weren’t the only one.

Glen Clark’s NDP government also built the three now-defunct FastCat ferries at a cost to BC tax payers of ~$460/$480 million, only to have to sell them at fire-sale prices that reaped something like $16 to $19 million, with nothing left to show for the effort.

The point is, government has a lack-luster record when it comes to trying to pick economic winners and losers. Government doesn’t have the expertise to be able to do so and the effort usually results in unintended consequences with the taxpayer on the hook.

#148 OXI in GREECE !! on 09.22.15 at 2:57 pm

#143 bdysktn on 09.22.15 at 2:27 pm
IMF’s Lagarde says downside risks to global growth increased
<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<

She would know. She caused much of it and is Europes most powerful un-elected dictator.

#149 Herf on 09.22.15 at 2:59 pm

#118 Bytor the Snow Dog

“@Herf- Conservative Party paid poster much?”

Negative. Just have a long memory of the mini-PET’s old man’s (PET’s) legacy and a severe aversion to big tax & spend government.

#150 conan on 09.22.15 at 3:28 pm

Rest in peace TFSA at 10 000 dollars.

Garth did you blow a gasket? Your last few stories seem to support the H Cons.

What gives?

I will not counsel anyone on how to vote. But it’s useful to know all parties in this campaign may be duping people. — Garth

#151 family beagle on 09.22.15 at 3:35 pm

#107 IHCTD9 on 09.22.15 at 7:40 am
#100 nubbers on 09.22.15 at 3:59 am
I think I met Lisa’s dad once. He was a grunt moving our furniture and we got chatting.

He had bought into the late 80’s housing bubble in the UK. Interest rates went up so they couldn’t keep up with the payments but house prices had crashed, so there was no escape because of the negative equity.

The bank repossessed the house and sold it for a lot less than the mortgage. A few years later the bank pursued them for the money, whereupon they were still barely scraping by, still renting but now also paying back a huge loan (+interest at non-secured rates).

It is really sad to think how many Lisas there are out there who are going to know poverty and misery beyond their parents’ wildest imagining. Almost as bad is the thought that the house pornographers responsible will never be brought to justice.
____________________________________________

This is true, many will get slaughtered. But I don’t feel so bad, such is the fate for those that can’t control their own actions to their betterment. No one put a gun to their heads, and these same folks are the ones providing the positive affirmation to the realtors.

Some folks are destined to be poor, and live a life of misery – and there is not a damn thing we can do about it.

Just about everyone I know is acquainted to at least one individual who’s life is a train wreck. You try to help them, they don’t listen. Hell, there are millions of them. And the kicker is, they vote to make their situation worse.

Nothing you can do, you can’t change people, just about everyone has to learn the hard way.

……………………..

” You try to help them, they don’t listen. ”

Smartest couple of comments I’ve read here in awhile. We have governments because the vast majority of people are idiots, evidenced by our disharmony with life and nature. Yet, the teacher will teach when the student is ready (an old mantra).

#152 bdy sktrn on 09.22.15 at 3:36 pm

But it’s useful to know all parties in this campaign may be duping people. — Garth
———————-
isn’t that the definition of ‘campaign’?

#153 jess on 09.22.15 at 3:38 pm

read how a women lost her home in PA. for $6.10 tax …really pathetic and the lost years to get it back

http://www.taxgirl.com/good-news-for-widow-who-lost-her-home-over-6-30-tax-bill/

#154 Blacksheep on 09.22.15 at 3:43 pm

Broader # 109,

“It’s not hard to see where our Canadian dollarette is headed .Do you want to own a house when the music stops? It’s now.”
—————————————————
The Canadian RE correction has already occurred.

The reserve currency of the world, IS the US $.

The real world value of Oil / Gold, IS measured in US $.

Yes, the real world value of Canadian RE, IS measured in US $, also.

That shit shack in Van. that was worth 1,000,000 US, two years ago, is now worth 750,000 US, in real world value (ex. gains of the past 2 years).

Some will argue, “If I don’t leave Canada, it doesn’t affect me”, well you won’t need to leave Canada, cause inflation is coming to you.

Look at the price of American products, Corp’s or RE that Garth has been suggesting for awhile now, ouch! The loss of wealth is real and trying to deny it is simply naive.

This is a better scenario than a RE collapse, at least given time, we can claw back some of those losses if we can get our shit together.

#155 john duffy on 09.22.15 at 4:09 pm

So you think the US economy is recovering. Then why is their housing market falling off a cliff?

http://investmentresearchdynamics.com/existing-homes-sales-drop-3x-faster-than-expected/

The monthly decline was 5%. In Toronto last month it was 19%. Exaggerate much? — Garth

#156 Calgary_Liahona on 09.22.15 at 4:25 pm

Rent to own is a joke.

Back in 2007 when I moved to Calgary, this guy tried to sell me a place in Sherwood in Calgary. The house was about $500K and it was “rent to own”. I dont remember the details, but it was like maybe 20% of the rent(if that) went towards the principal yearly. I asked him something about that, and his response was “dont worry about that”.

Perhaps he offers some solution for some people, as he is still in business, but makes you wonder how dumb some people are.

Makes sense to rent while you save the down payment.

Meanwhile, the greed of Alberta oil companies continues, just an excuse to lay off people. From what I remember, oil was less than $50/barrel pre 2004 and the sky wasnt falling. What you have in Calgary is some CEO whiners screwing over the people unfortunate to have chosen this as a profession.

Calgary is nasty. Don’t come here unless you have cash. Phony people, liars, traffic, revenue collecting cops, it is all here combined with slimy people.

#157 Dual Citizen In Canada on 09.22.15 at 4:26 pm

#154 Blacksheep on 09.22.15 at 3:43 pm
The Canadian RE correction has already occurred.
The reserve currency of the world, IS the US $.
The real world value of Oil / Gold, IS measured in US $.
Yes, the real world value of Canadian RE, IS measured in US $, also.
Some will argue, “If I don’t leave Canada, it doesn’t affect me”, well you won’t need to leave Canada, cause inflation is coming to you.

This is what I have been trying to explain to house horny colleagues at work and they look at me like a deer in the headlights.

#158 Balmuto on 09.22.15 at 4:29 pm

#145 Mark

“Given that deflation, not inflation, is a far more likely path for the future, the assumption can be made that it is the intent of the Liberals to shrink the TFSA.”

It’s not a “given” that deflation is far more likely than inflation, that’s just your opinion. But even if the Liberals were of the same opinion, re-instating inflation indexing of the TSFA as a stealth way of reducing TSFA limits wouldn’t work. Because inflation indexing in Canada for tax threshold limits has a zero-bound. Annual CPI adjustments of amounts
cannot be negative from one period
to the next. They would have to explicitly change the Income Tax Act to allow for negative CPI adjustments. Highly unlikely.

#159 jess on 09.22.15 at 4:30 pm

facta

http://www.irs.gov/pub/irs-drop/n-15-66.pdf

========
‘ketcup economics’

http://krugman.blogs.nytimes.com/2009/07/19/ketchup-and-the-housing-bubble/?_r=0

OECD: too much finance hurts growth — more on latest paper supporting Finance Curse thesis

http://www.taxjustice.net/2015/09/18/oecd-too-much-finance-hurts-growth-latest-paper-supporting-finance-curse-thesis/

#160 Vundo on 09.22.15 at 4:32 pm

#107 IHCTD9: while I can agree with you about Lisa’s mom, it is really a shame that Lisa will have to suffer the consequences of her mom’s decisions. Financial literacy should be mandatory in all high school curricula across the country. Why? To give Lisa a chance to choose differently, even if her mother is the greater fool.

#161 Joe2.0 on 09.22.15 at 4:45 pm

FEDs buying up the U.S. Treasures the Chinese are dumping.
Time for a big ole war.

#162 Are You Kidding Me? on 09.22.15 at 5:01 pm

Want a great read on a really wonderful rent to own program? Just search for Golden Oaks in Ottawa and you can read the torrid tale as it all unfolds in the courts.

Here’s the latest update with the realtors involved with what has been described as nothing more than a Ponzi scheme: http://ottawacitizen.com/news/local-news/ottawa-real-estate-agent-a-partner-in-golden-oaks-pyramid-scheme-arbitrator-rules

#163 saskatoon on 09.22.15 at 5:04 pm

#151 family beagle

“We have governments because the vast majority of people are idiots…”

dude…you’ve got this totally backwards.

#164 Steve on 09.22.15 at 5:05 pm

>>> I hope you live a long time. — Garth

“Me live you long time.”

#165 SWL1976 on 09.22.15 at 5:43 pm

#132 IHCTD9

Cash definitely is freedom, so we can expect those same attempts over here before too long. Just won’t do what they hope it would do so long as the US still deals with cash money.

I wouldn’t stop worrying altogether though…

You’re right to be concerned. Mint Chip is the first step to a cashless society.

Next step is RFID biometric chips, but that’s just a whacky conspiracy.

Right???

Government’s and bank’s all rolled into one

Fun, fun, fun, prepare accordingly

#166 IHCTD9 on 09.22.15 at 5:45 pm

#164 Steve on 09.22.15 at 5:05 pm
>>> I hope you live a long time. — Garth

“Me live you long time.”

————-

“OOOhhh, me so [house] horrrnyy.”

#167 IHCTD9 on 09.22.15 at 6:03 pm

#165 SWL1976 on 09.22.15 at 5:43 pm
#132 IHCTD9

Cash definitely is freedom, so we can expect those same attempts over here before too long. Just won’t do what they hope it would do so long as the US still deals with cash money.

I wouldn’t stop worrying altogether though…

You’re right to be concerned. Mint Chip is the first step to a cashless society.

Next step is RFID biometric chips, but that’s just a whacky conspiracy.

Right???

Government’s and bank’s all rolled into one

Fun, fun, fun, prepare accordingly
—————————————–

This is something I do not like…

#168 Alex N Calgary on 09.22.15 at 8:07 pm

After being forced to move 5 times in 5 years from 2000$ a month houses in Alberta, I can understand this. Its pretty brutal, especially here where landlords have a lot more rights then tenants, can just decide to steal from your security deposit on their own descrition. Takes 10hrs of my time or more to clean the place on move out, and 500$ ish for moving fees, at LEAST, over and over and over, oh and find a place that allows dogs and has a garage, oh vacancy is low and SCUM landlords are getting away with murder, no wonder so many people bought here, they were almost forced into it, how we survived this long, maybe to prove a point? prove a point about how miserable it is to move, a month to pack, 2 months to unpack, at least its finally at an end here in Cowtown.

#169 NOT A LOSER on 09.22.15 at 8:18 pm

DELETED (Idiot)

#170 Housing on 09.22.15 at 10:04 pm

You cannot blame the population for this mess but the government for not interviening and calming the market by reducing CMHC maximum insurance to lets say 500.000. Look at Fannie Mae and Freddie Mac, they have regional top limits based on average family income. Well they were bankrupt in 2009 too but CMHC thinks it cannot happen here.
Prices went up for so long that the young generation and the new immigrants think that this is the normal.
With two 50.000 salaries a family can get 450.000 mortgage easy, insteAd of starting at 200k they take double debt and the guys that make 120.000 will need to buy at 550.000 and so on. A 1% family with 200k income can carry easy a 3500 mortgage with a 1 suite helper. Calculate that in vancouver and combine with lowest inventory evere you can get a picture of the market.