The do-over

ZEAL modified

‘Eye-popping’, ‘white hot’ and ‘blistering’. No wonder naïve people get so excited about houses. The terms robotic reporters use when they rewrite real estate board news releases are usually over-the-top. Often wrong, too. But the 43,000 realtors in the GTA (alone) know that. This is part of the game – creating the meme that real estate is rapidly leaving the reach of common people, so they’ll abandon all hope of a correction and hurl themselves into the conflagration.

So far, it’s working.

As I showed the other day (to wails of protest), scads of affordable houses are currently sitting among the 10,000 listed for sale. If you want to buy for under a million (or even $500,000) and viewed five a day, it’d take months to get through them all. As I also proved, the average single-family, detached house today in 416, the unchallenged centre of humanity and culture, is selling for less than it did last spring.

In short, don’t believe all you read. But if you’ve been trying to sell a house, you already know this. The market ain’t smoking. Sometimes it’s barely room temperature, or like Rona Ambrose to the touch. (Trust me on this.)

This pathetic blog has long argued the real estate board’s stats are Frankenumbers, used more for marketing than reporting. How else can you explain the fact official statistics for prices and days-on-market completely ignore relistings?

As you know, sellers relist their houses when they can’t sell them. Sometimes the listing expires with no action and they change agents. Often they get tired of fruitless open houses or people looking for decorating tips, and go off the market for a few months. Most commonly, they receive nary an offer and realize they have to reduce the asking price.

Whatever. A relisting sets the clock back to zero. The real estate board doesn’t track the total time a property’s been for sale – just the days since the last reset. Nor, when it finally does sell, do the official stats measure the deal price as a percentage of the original asking, but rather of the most recent reduced one.

This is why, for example, Calgary is in the middle of a commodity-based economic crisis, and yet the average house price is (supposedly) up 1.64%. If that passes the smell test, you’ve had your proboscis in the wrong places lately.

Well, we finally have some hard numbers on this realtor ruse. For that you can thank the digital dudes at TheRedPin.com who, like so many confused people, read this site. They did an analysis of all the sales in the GTA last year (101,299), trying to ascertain how many people had to list their home multiple times (presumably at lower prices each time) in order to snare a buyer.

The answer: 17,254. In other words, about one in every six vendors couldn’t sell their property on the first try, nor at the original asking price. And this was in the middle of a boom, with record low mortgage rates and dangerously elevated levels of hormones. 2015, as it turned out, was the second-best year on record for house sales in Toronto with prices jumping almost 10% (so we’re told) and sales surging (yeah, right).

The study, says TRP, “sheds some light (and much needed data) on a common real estate practice sorely lacking insight.

“There are a slew of reasons behind why a home would get re-listed, chief among them is to shake off the stigma that it’s lingering on the market for too long. Upon finding a new listing, one of the first questions on every house hunters mind is “how long has it been on the market for?” Any number of days that falls close to 60 is likely to elicit some eyebrow raises and a handful of questions to follow about why it’s failed to receive an offer.”

As the RedPinners correctly point out, every time an agent files a re-listing the house surges onto the Hot Sheets, regains its virginal status as a steamy new entry, appears to be a fresh home entering the market and wiggles onto a zillion email alerts sent out to panting buyers. But, it’s actually fraud. Just like the summary statistics ignoring the whole slippery process.

Here’s the advice: “A general rule of thumb in real estate is that a property gets the highest amount of exposure in its first two-weeks. By re-listing a seller can often get a second shot at making a first impression. However, it’s key to note records of the prior listing will be on hand to agents, who have access to MLS.” Yeah, so always ask your guy for DOM, total time on the market, previous listings and asking prices.

By the way, the average price reduction for re-listings last year in Toronto was $24,000. Yup, that’s 3.3% –  a haircut you didn’t read about in any of the real estate board’s market reports, nor the housing-humping Globe & Mail. And, worth noting, re-listing is more epidemic when it comes to condos – where one in five fail to find a buyer without a price slash.

So there ya go. Today 14% fewer houses are for sale in Toronto than one year ago. Mortgage rates are lower. The hype is higher. Housing reporters are setting their hair on fire in sympathy. The media thumps buy-now-or-buy-never. And yet thousands of houses find no buyers. Average price stats prove bogus. Single properties get multiple listings. Affordable abodes abound. And the industry hides key data from consumers.

Is it any wonder people lump realtors in with politicians and financial advisors? Oops.

209 comments ↓

#1 Billy Steadman on 02.23.16 at 4:30 pm

First Baby!!

#2 Randy on 02.23.16 at 4:32 pm

Most real estate agents are morons…Sorry, that’s the truth.

#3 Industrial Guy on 02.23.16 at 4:38 pm

While the Government of Canada is pondering whether to give Bombardier a cool billion .. maybe they should send some cash to the poor real estate brokers of Southern Alberta. How will the ever afford the cost of all those “For Sale” signs this Spring?????

#4 Rick on 02.23.16 at 4:48 pm

Great post Garth! I have to say that housing is not what it was. I looked up my old neighbourhood, 15 miles outside Washington DC; and SF homes are listed and selling for 20% less than 10 years ago. Where’s that US recovery? Not in housing:)

#5 MSM-Free Zone on 02.23.16 at 4:49 pm

“…..Sometimes it’s barely room temperature, or like Rona Ambrose to the touch. (Trust me on this.)…..”
____________________________

Truly sad to learn this. And I was so looking forward to some really hot selfies from our future ex-prime ministerrette.

#6 RimJabba on 02.23.16 at 4:50 pm

Real estate has become another way to tax people. The BoC is following Keynesian economics, zero savings and keep people spending by slashing rates.

#7 jess on 02.23.16 at 4:53 pm

rich morons payday lending scheme

The indictment sought $2 billion in forfeiture, along with six Ferraris, four Porsches and one Learjet.

…”As alleged, Professional racecar driver Scott Tucker was arrested and Muir deceptively preyed on more than 4.5 million working people, including those in New York, to enter into payday loans with interest rates ranging from 400 to 700 percent. Not only did their business model violate the Truth-in Lending Act, established to protect consumers from such loans, but they also tried to hide from prosecution by creating a fraudulent association with Native American Tribes to receive sovereign immunity. This scheme, like so many others who swindle innocent victims, only ends with an arrest by the FBI.”
http://www.justice.gov/usao-sdny/pr/manhattan-us-attorney-announces-charges-against-owner-and-attorney-2-billion-unlawful

#8 mark on 02.23.16 at 4:55 pm

So i”m guessing 3, 2, 1 before TREB and MLS start sending threats to The Red Pin?

#9 AB on 02.23.16 at 4:57 pm

Excellent post Garth. Thanks for again being the voice of reason! Having lived in Toronto for many years, I completely agree with your analysis that there are definately houses that are not selling in very good areas.

#10 Dirty Debtor on 02.23.16 at 4:58 pm

Here in 604 the market is like never seen before. 10 years ago Langley was known as Langtucky to those urban souls west of the Port Mann. Today, vast acreages have transformed into tens of thousands of 14ft wide townhouses.

Moist couples are canvassing the older, now upscale neighborhoods door to door, making offers on the spot that are getting close to $1M. Selling prices have gone up %20 since last year.

Prices might be falling in 416 but its definitely not the case out here in lotus land. Even old blog dogs, once rational, are starting to seriously question if we really are different out here…

DD

#11 Kuti Janani on 02.23.16 at 4:58 pm

Gartho does it again!
Recently, looked at one house that was reduced by 30k and relisted yet the agent pretended like this is first time listing. Industry without independent oversight.. will get you where we are at today.

#12 BNorth on 02.23.16 at 4:59 pm

Lumping them in with politicians and financial advisors is generous. I’ve always held them at the same level as used car salesmen.

#13 Frank on 02.23.16 at 5:01 pm

Silly Toronto.

Vancouver is a different story. Places here get relisted for more after a moister bidding war makes the seller greedy. They realize people won’t pay $1.8M + 20% but they will pay $2M + 10% (it’s only 10% over!) so relist at $200K more and get a free $40K.

This market is a house of cards in the eye of the hurricane and so many people just want to stack on one more layer.

#14 Love My Kia on 02.23.16 at 5:03 pm

How long does a listing contract run for if a home doesn’t sell? I am trying to figure out roughly DOM if a home is listed multiple times.

#15 Victoria Real Estate Update on 02.23.16 at 5:04 pm

Your work is always appreciated Garth.

Not sure how the average price of homes in a city in a given month is affected by the re-listing of a chunk of those properties at lower prices.

Doesn’t the average price simply reflect the total dollar value of all units sold divided by the number of sales?

Perhaps I missed your point.

#16 President Comb-Over on 02.23.16 at 5:04 pm

Real-estate is king.. I’m a really rich gazillionaire.. I should know.. without real-estate and property you are a TOTAL LOSER

#17 Smoking Man on 02.23.16 at 5:04 pm

Don’t worry after the march cut expect another price spike.

https://www.forexcrunch.com/odds-favour-bank-of-canada-rate-cut-in-march/

#18 mitzerboy aka queencity kid on 02.23.16 at 5:10 pm

sweeeet …
thx garth
this is the only place i can come to read about
money- things, rona and my proboscis on the same page.

#19 Smoking Man on 02.23.16 at 5:13 pm

Even the Star is tossing Wynne under the bus.

http://www.thestar.com/opinion/commentary/2016/02/14/kathleen-wynne-facing-2018-election-disaster-hepburn.html

She’s to busy on pet projects to worry about investment and jobs in Ontario
http://www.lfpress.com/2016/02/19/premier-kathleen-wynne-in-london-for-canada-price-conference

Whats a 100 million dollars

http://www.cbc.ca/news/aboriginal/ontario-pledges-100million-to-help-end-violence-against-indigenous-women-1.3459951

#20 WallOfWorry on 02.23.16 at 5:18 pm

Who cares? Don’t buy or sell your house…just live in it. This posting sure sounds like someone defensive about their position, perhaps because they have been wrong for so long? Although, on the positive side, at least your stats would support your position that by alerting the general public about the peril of buying people are listening as there are less purchases? Yeah…there you go…feel better now Garth?

#21 Blacksheep on 02.23.16 at 5:21 pm

AB Boxster # 226,

“At the federal level you are correct.”
——————————————–
Of course I am.

Thanks for making my point.

Ontario = Greece = NOT a sovereign in control and is 100% forced to borrow from a second party, subject to current market conditions that theoretically could be refused financing and be forced into default.

Canada = EU = IS a sovereign in control and is not forced to borrow and thus technically cannot be forced to default on debts owed in its own, sovereign currency.

Night and day, difference.

If you want to talk about (#226) provincial, municipal, commercial or private debts, that’s a whole different discussion due to the fact none are sovereigns in control and all can definitely run out of money or credit and be forced into default.

#22 Exilled on 02.23.16 at 5:36 pm

Sir Garth:
Doug Rowat; I quote, ” Its positive what the Canadian Government ( The Liberals ) is doing for the economy”. T2 is doing it right!! So pass the ” Bill ” on!! [email protected]:20

#23 Toronto Real Estate Agent on 02.23.16 at 5:45 pm

I have been an agent in Central Toronto for 19 years , the reason why houses are relisted at a lower price is most sellers are really really really greedy and the only way to show them what their house is really worth is to list it and show them they are being unrealistic. Everybody seems to love to kick us realtors! I smile knowing that I do a great job for my clients and take care of my family really really well from my hard earned commissions.

#24 WalMark of Sadkatoon on 02.23.16 at 5:46 pm

That would mean that after five years, the incentive on the part of your population to work would be greatly reduced. After all, once they have paid for their houses, why are they working full time?

the only incentive for working is the buy a house? are we joking?

#25 Panhead on 02.23.16 at 5:48 pm

I figure even those guys hawking their wares on the beaches in Mexico could learn a thing or two from our realtors … Chrisie ain’t gonna touch these “made” guys … capiche?

#26 pwn3d on 02.23.16 at 5:54 pm

Oh noes, you mean people sometimes set their price too high and have to cut it to find a buyer?

Call me crazy but dom is at an all time low and prices at an all time high. Will the dom be affected by those people? Yes, but look at the trend rather than the number if that makes you feel better. Also if someone holds back offers for a week the dom goes to 7 or 8 when it easily could have sold in 1 or 2.

One day the GTA market will suck, but you can’t argue against how hot it is right now.

#27 RimJabba on 02.23.16 at 5:56 pm

#19 Smoking Man on 02.23.16 at 5:13 pm

Wynne is showing her true rainbow colours. While the economy crashes and burns, she is busy spending on her social justice causes. I hope the people of Toronto who elected her get a stern kick in their bottoms in the form financial accountability.

#28 NoName on 02.23.16 at 5:56 pm

LOL

#42 MF on 02.22.16 at 6:54 pm
First LOL for getting your information from the star.

#29 gut check on 02.23.16 at 5:57 pm

In my hood things are changing, too. slowly but surely.

Anything half decent that is priced right will sell immediately (as always) but there are many, many homes that have been for sale for more than a year (some almost 2 years) … a few have finally dropped just in the last week. Most are still clinging to whatever ‘right buyer’ they think is on his way to making a full price offer.

I watch closely and many homes that I figured must have sold 6 months ago are back online again at the same price as last time, except for one guy who mysteriously raised his price from $429,000 t $470,000!!!

There was one good one that got away – reduced from $559 last year to $449 this month. It’s gone from MLS now – I guess it sold but hey, they might surprise me and come back in another month or two.

I could go on and on.

Oh – one more shenanigan that has begun in earnest in YGK: listing the same place twice on mls. To boost numbers? dunno. I do know it’s frustrating me.

#30 gut check on 02.23.16 at 5:59 pm

@ #20 WallOfWorry on 02.23.16 at 5:18 pm
Who cares? Don’t buy or sell your house…just live in it.

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

did you buy the house you live in or … ?

#31 common sense on 02.23.16 at 6:02 pm

In 1599/1600 Shakespeare said it best….

“Me thinks the lady doth protest too much”.

Real Estate shills, anyone in trouble trying to sell too hard under any means possible…which sounds like the FED will be AGAIN very soon as this dead cat bounce goes south once again….funny how oil went up fats on RUMOURS and now the truth is out AGAIN it will slowly deflate in price…So tired of lemmings.

#32 ha ha on 02.23.16 at 6:03 pm

Q: What’s the difference between a vacuum cleaner and a real estate agent on a motorcycle?

A: The vacuum cleaner has the dirt bag on the inside.

Are you seven? — Garth

#33 Bram on 02.23.16 at 6:09 pm

Who cares about listing prices, or re-listing prices?
They mean absolutely nothing.

There are plenty sellers who will not sell at asking price. They put the asking price really low to attract attention, but that does not mean they will sell for that, even if there is only 1 bidder.

A condemned house on my block in E-Van is listed every now and then. A builder I know offered asking, but they would not sell.

For (re)sale prices, refer to Teranet, for listed prices: you can pretty much ignore those.

Bram

#34 IHCTD9 on 02.23.16 at 6:09 pm

#238 Mark on 02.23.16 at 2:41 pm

Unequivocally not true. The debt of Canada rose from $628B as of December 31, 2014 to $645 as of October 31, 2015. Harper was on track to run a $20-$25B deficit in 2015 had he not been removed from power.

http://www.bankofcanada.ca/markets/government-securities-auctions/goc-t-bills-and-bonds-outstanding/

___________________________________________

Sorry about your luck, but the Dept of Finance confirmed it in October 2015.

634 Million dollar surplus for a 7 month period.

Deficit was confirmed at 941 Million in Oct 2015

FACT – Harper finished up 941 million in the hole – remember that number as it will seem sweeter than honey by this time next year.

Oh, and stop interchanging debt numbers and deficit numbers like they are, well – interchangeable. I never said anything about the debt. You’re going to convince me those other guys are right about you if you keep doing shit like that…

http://www.cbc.ca/news/politics/ottawa-posts-941m-deficit-for-october-1.3376881

#35 IHCTD9 on 02.23.16 at 6:10 pm

Make that Dec 2015

#36 Welcome to Slurrey on 02.23.16 at 6:12 pm

#10 – Dirty Debtor

It’s insane right now, have a house down the street from me in good old slurrey, west newton (high class you know lol) house sold for a million ? Wtf …..main road next to a four way stop nothing special. Who wants to pay a million dollars to live in slurrey ? I don’t get it, everyone has gone mad, garth you talk of a correction, but given the year over year increase in prices over last few years that correction has to be in the 30% plus range for prices to make sense, so is it possible for this million dollar home to be worth 750 000 or even 800 000 in a few years it is hard to imagine at this point. …

#37 Scott on 02.23.16 at 6:12 pm

21-Not to mention Ontario is the most indebted non-sovereign entity on the face of the earth.

#38 Doug t on 02.23.16 at 6:13 pm

I never understood why anyone would want to be a realtor. It’s a scummy way of making a living – plastering your cheesy mug on signs and billboards with that big fake smile. In a “hot” market they act like they are doing you a favour showing you a house and in a “cold” market they are practically willing to sleep with you.

#39 Rick on 02.23.16 at 6:15 pm

#23 Toronto Real Estate Agent on 02.23.16 at 5:45 pm.

The “good” Realtors” are few and far between. Most don’t believe in the word “fiduciary”.

Investors, you might want to check with your financial adviser and ask; if they have a fiduciary duty to you. You’ll find most are just sales people.

#40 A Canadian Abroad on 02.23.16 at 6:22 pm

Real Estate is incredibly non-liquid in a down market.

No one wants to buy your home unless you sell it with years of gains gone. It can be an incredibly frustrating experience and life lesson. We learned that after 9 MONTHS of having our home for sale, relisting it a few times and dropping it by 34% to sell, and it was one of the nicest homes in the neighborhood.

Sure, stocks go down, but at least, you can dump them. RE, not so much.

God help you if you HAVE to sell in a down market.

#41 Frank on 02.23.16 at 6:24 pm

Doesn’t the average price simply reflect the total dollar value of all units sold divided by the number of sales?

Exactly. All this number bingo doesn’t mean shit if average and median prices are going up. Cue Mark to tell us how ‘sales mix’ means that prices have actually been falling for the last 20 years.

#42 tundra pete on 02.23.16 at 6:27 pm

Realtors are a scurge on society. When this ponzi scheme comes unglued you can bet the ptb will be backpedaling to clip their wings and make them truthful and honest. There must be truckloads of them sweating like hogs at the shitstorm brewing.

#43 common sense on 02.23.16 at 6:31 pm

#41 Frank

No not Mark again..Please.

#44 Mark on 02.23.16 at 6:33 pm

“Sorry about your luck, but the Dept of Finance confirmed it in October 2015.”

My luck is just fine, thank you very much. The Bank of Canada verified that Harper ran a deficit, and hence, increased debt for the months he was in power in 2015 to the tune of roughly $17B. I gave you a link. “Dept of Finance” are a bunch of partisans. The debt of Canada tells the true picture, with no partisanship, and it rose by $17B.

When debt rises (ie: outstanding T-Bills and T-Bonds, government debt instruments), by definition, a government is running a deficit as revenues are not able to cover spending.

#45 Mark on 02.23.16 at 6:34 pm

“Not sure how the average price of homes in a city in a given month is affected by the re-listing of a chunk of those properties at lower prices.”

I think the point Garth is trying to make is that, despite the Realtors’ claims that its been “up, up, up” — in reality, many housing units are anything but “up”, and there has not been the widespread systemic increase in house prices as claimed. Calgary being a shining example of the disconnect between Realtor numbers and what’s really happening “on the ground”.

(in Calgary, its the high-income segment of society panic’ing as they’re losing their jobs and their oil and gas company equity in droves, while its pretty much “business as usual” for people in the lower-wage segments of the population)

This is perfectly reasonable given that the Canadian housing market peaked roughly 3 years ago (with Budget 2013’s changes to CMHC) and most Realtor-claimed price changes since, particularly in Toronto/Vancouver, have been on account of the shift to the sales mix.

While the Government of Canada is pondering whether to give Bombardier a cool billion .. maybe they should send some cash to the poor real estate brokers of Southern Alberta.

Bombardier’s owners have poured basically everything they have into the company, ran a very tight ship, and still came up short on account of a mis-estimation of program costs and certification hurdles.

Contrast this with the Realtors who have been living high on the hog for the past decade and invest almost nothing into their businesses.

#46 Felix on 02.23.16 at 6:35 pm

“Is it any wonder people lump realtors in with politicians and financial advisors?”

…and stupid dogs collecting sticks for no purpose for their insecure human masters with low pet standards….

#47 tundra pete on 02.23.16 at 6:41 pm

#10
Can you imagine when all the owners of these million dollar homes (boomers) head for the door at the same time, and they already priced the first time buyers out of the market, that will be when prices correct. And correct they will!

#48 M on 02.23.16 at 6:48 pm

dudes and dudettes ,

housing doesn’t really matter..is a “dead man walking”.
Banks my dear puttycats is what we should eyeball. For shorting that is. All those Bay st suckers have more than 450 b exposure to housing (that’s already dead) and at least that into oil crap at 100 :)
I don’t even want to think too much what a colossal band will be :) With T2 scrambling to bail :)

… so Gartho baby… give us a good show about the banks baby.

PS for so much blue sky my derriere hurts…

#49 kommykim on 02.23.16 at 6:50 pm

RE:

#23 Toronto Real Estate Agent on 02.23.16 at 5:45 I smile knowing that I do a great job for my clients and take care of my family really really well from my hard earned commissions.

Sorry, but you’re not worth the commission you are paid. 1% between both realtors would be fair for the actual skill and work you bring to the table. The Lawyer, who handles the tittle transfer, brings way more skill and value for what he is paid than a realtor.

#50 Mark on 02.23.16 at 6:53 pm

“Sorry about your luck, but the Dept of Finance confirmed it in October 2015.”

BTW, just further to my previous post, month-to-month figures have always had some volatility. Tax collections increase some months compared to others based on the ebbs and flows of the economy, the payments cycle, or even legal decisions of the tax courts when large taxpayers are involved. As does government spending. A simple instruction to government managers to pre-pay certain expenses could create a surplus one month, and a deficit another.

This is why a more fundamentally honest way of things it to use longer intervals. Over the 10 month interval, January – October 2015, Harper ran a $17B deficit. In the interval October 2005 to October 2015, the Harper government ran a cumulative $260B deficit. Sure, they probably ran a few surpluses along the way month-to-month, but the long term picture is one of excess spending relative to revenue earned by the government.

#51 IKnow on 02.23.16 at 6:54 pm

Vancouver 604 is different because it follows the Hong Kong fundamentals.
As long as a tiny “poor man starter special” flat there can be sold over $1M, a $2M Vancouver special is a dirt cheap bargain.
No Aliens attacking Hong Kong, no big reason for price to come down in 604

#52 Fasting John on 02.23.16 at 6:56 pm

My wife and I were looking for a rural property once and one Real Estate Agent (REA) actually told us “better buy quick as they aren’t making more land”. Astonishing! I see way more value from my lawyer for a fraction of the cost when closing a deal than anything done by a REA throughout the entire process. What does that say for a REA when considered lower than a lawyer. What a messed up business real estate is

#53 Bottoms_Up on 02.23.16 at 6:58 pm

Saw a house today sell in an Ottawa suburb, close to two good schools. Not the greatest condition, nor lot, and not overly large. However, it has been up for sale for about 700 days, and has been through about 4 or 5 different agents, plus attempts at FSBO. It probably got logged into the mls system as a listing that sold in about 45 days.

#54 AB Boxster on 02.23.16 at 6:58 pm

#21 Blacksheep on 02.23.16 at 5:21 pm


Thanks for making my point.

————————————
But the point is that the debt does not matter if it is at the federal or provincial level.

Guess what. There is only 1 taxpayer.
Higher deficits at the federal level will tax the same taxpayer as deficit at the provincial level.

Where will all this extra revenue come from?
You the taxpayer, or your services get cut.
That’s the only choice you get.

So the argument that deficit federally is different from provincially is moot.

#55 vanreal on 02.23.16 at 7:05 pm

Bram #33. You are so right. Listing price means nothing. I could list my house for 3 million but it won’t sell and that means nothing in relation to current prices. It’s only selling price that matters. It is the sales to listing ratio that matters as well. There is a house that is up the street from me listed for 2.2 million but it’s overpriced and hasn’t sold in 6 months. That means nothing!!!

#56 Babbler on 02.23.16 at 7:08 pm

“So far, it’s working.” – Garth

——————————————-

Yes. That’s not news. It’s been working for the last eight years at least and will continue working for a few more I would wager.

#57 Auzzie bubble on 02.23.16 at 7:08 pm

Aussie real estate bubble? 950k now valued at less than 200k

https://www.youtube.com/watch?feature=player_embedded&v=j_ktN_h7-J4

http://www.bloomberg.com/news/articles/2016-02-22/one-sign-australia-s-housing-market-is-due-for-a-2008-moment

#58 Eric on 02.23.16 at 7:12 pm

I have been using realtor.ca to check the condo prices in Montreal for more than one year.
I was wondering if someone was able to aspire the content of the web site with a robot software every week, analyze the data, maintain an historic of each property listed – taking into account re-listings and changes in prices, and make the data available on a website – would he face some kind of legal challenge ?

#59 tb on 02.23.16 at 7:22 pm

Correct on many points, such as DoM, percentage of asking, etc. These get skewed by the relisting tricks. We’ve seen houses on the market for over a year, going through 5 relists and as many price drops, only to “sell within a month” :)

The average prices however are not affected by this. The average selling price is what it is. Whether it took one or 5 listings is irrelevant for that statistic.

So if Calgary average prices are up, it has nothing to do with this.

#60 Theodopolis on 02.23.16 at 7:22 pm

So it looks like Than from flip this house is flogging his system in Ottawa http://tinyurl.com/z7sseou (and the radio ads)….

wonder how many are going to buy into this?

#61 Victor V on 02.23.16 at 7:23 pm

http://www.theglobeandmail.com/report-on-business/economy/blackrock-pimco-say-trudeau-deficits-take-rate-cut-off-table/article28854880/

Prime Minister Justin Trudeau’s willingness to go deep into the red to stimulate Canada’s moribund economy means the central bank can hold off cutting rates for the time being, according to money managers from Pacific Investment Management Co. to BlackRock Inc.

A fiscal update on Monday from Finance Minister Bill Morneau showed Mr. Trudeau’s government will probably run deficits of at least $30-billion in the coming year, triple what it pledged in last summer’s election campaign. Investors including Ed Devlin say deficits that size will probably deliver the jolt the economy needs and mean the Bank of Canada won’t need to lower borrowing costs again after cutting rates twice last year. “The stimulus takes the Bank of Canada out of the picture,” Mr. Devlin, who manages $17-billion for Pimco, said by phone from New York. The government is “probably going to do more than less.”

#62 earthboundmisfit on 02.23.16 at 7:24 pm

@32 Ha ha
At the very least, get the joke right.

“What’s the difference between a Harley and a Hoover?”

#63 Samuel on 02.23.16 at 7:25 pm

I lump realtors in with scummy bottom feeders. They are leeches on society.

#64 Brian Ripley on 02.23.16 at 7:31 pm

“The market ain’t smoking.” Garth

We have to wait another month for the budget to find out if a new fiscal policy is going to be directed at productive investment. I decided to look at productivity charts for Canada and the U.S. and on the way to doing that I came across a study that suggests that “…as productivity declines over an aging boom, the risk of insufficient collateral becomes evident.”

Well we certainly have an aging boom and as Garth points out, a lot of properties are clearly mis-priced at the start of their marketing efforts and we are not even in a hot market correction yet. Could it be that collateral is now being weighed?

As well as productivity, I mashed up charts on Bank held Oil and Gas loan reserves, the bust in business investment in Canada (which we think the budget will address in some form) and Global GDP growth that is back to 2009 pit of gloom levels. We are competing with everyone else, hence we need rising productivity not falling.

Charts: http://www.chpc.biz/history-readings/good-or-bad-boom

#65 Mr. Frugal on 02.23.16 at 7:32 pm

Really funny how liberals spend all their time blaming the last government. When times are hard, what’s a libtard to do but borrow a metric shit-tonne of cash and blow it on infrastructure projects to pay off liberal supporters. Weee weee weee!!! Lots of little libtard piggies getting called to the trough.

http://news.nationalpost.com/full-comment/andrew-coyne-liberals-launch-the-not-our-fault-defence-as-deficit-forcecast-balloons-to-18-4-billion

#66 Just Wondering.... on 02.23.16 at 7:41 pm

Why is it so many pictures of houses for sale in the real estate section off my local paper shows houses with full foliage and green, green grass….hmmm?

#67 IHCTD9 on 02.23.16 at 7:47 pm

#44 Mark on 02.23.16 at 6:33 pm
“Sorry about your luck, but the Dept of Finance confirmed it in October 2015.”

My luck is just fine, thank you very much. The Bank of Canada verified that Harper ran a deficit, and hence, increased debt for the months he was in power in 2015 to the tune of roughly $17B. I gave you a link. “Dept of Finance” are a bunch of partisans. The debt of Canada tells the true picture, with no partisanship, and it rose by $17B.

When debt rises (ie: outstanding T-Bills and T-Bonds, government debt instruments), by definition, a government is running a deficit as revenues are not able to cover spending.

____________________________________________

Dept. of Finance is a bunch of Partisans? Well, the numbers I quoted were reported on Trudeau’s watch. Harper was long gone by Dec. I guess Harper actually must have knocked it down even more than those Lib Partisan public servants at the DoF reported then no?

I know you don’t like Harper and that’s cool, I completely understand why you’d rather look at Harper era debt numbers rather than Harper era deficit numbers circa 2015.

941 Million my friend, put that in your cranial cubby-hole and we’ll talk again Oct 2016.

#68 Chris on 02.23.16 at 7:47 pm

A townhome listed for 375k just sold for 436K and this is in Whitby. White hot could be an understatement.

#69 crowdedelevatorfartz on 02.23.16 at 7:47 pm

When this all turns to shite.
Moist owners will be about as happy as this parrot….

https://www.google.ca/url?sa=t&rct=j&q=&esrc=s&frm=1&source=web&cd=1&cad=rja&uact=8&sqi=2&ved=0ahUKEwi4iZ6SkY_LAhUO1mMKHcDaB3gQyCkIHTAA&url=https%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3DXM8aBESf8EI&usg=AFQjCNGOAzOOlc7UyehGVjzs3-JgHYaocA&sig2=eeVqs0pHl0Nb3-Z-FeBpEA&bvm=bv.115277099,d.cGc

#70 Tony on 02.23.16 at 7:49 pm

Re: #6 RimJabba on 02.23.16 at 4:50 pm

The meme of Keynesian economics was to spend in good economic times. Today we see Trudeau the second doing the opposite.

#71 hope & ruin on 02.23.16 at 7:53 pm

I think garth was hanging around the poor people’s part of the web today. Im surprised he can deal with all the moisters and kitten pictures.

Lol at everything felix says. Hilarious.

#72 Mark on 02.23.16 at 7:56 pm

“Can you imagine when all the owners of these million dollar homes (boomers) head for the door at the same time, and they already priced the first time buyers out of the market, that will be when prices correct. And correct they will! “

It doesn’t even take boomers heading to the exits. All it takes is for the speculators to run out of money (which largely has already happened), or the young simply refusing to pay (or unable to pay, on account of the CMHC tightening up subprime rules). Ownership is at a record proportion of the population. Realistically, who is even left to buy? Traditional social norms, such as young single men and women usually residing in multi-family housing units have already been significantly challenged. Seniors retirement living increasingly has moved to the condominium ownership model in a significant number of cases. Newcomers to Canada arriving almost penniless are rapidly into (leveraged) ownership on account of financial assistance and loan guarantees granted by their local ethnic communities. Realistically, how much more RE can the industry shove down the throats of Canadians? Not much more. Already we’re in uncharted territory for ownership ratios, with the US RE market collapsing from even lower levels than currently attained in Canada.

#73 IHCTD9 on 02.23.16 at 7:56 pm

#50 Mark on 02.23.16 at 6:53 pm
“Sorry about your luck, but the Dept of Finance confirmed it in October 2015.”

BTW, just further to my previous post, month-to-month figures have always had some volatility. Tax collections increase some months compared to others based on the ebbs and flows of the economy, the payments cycle, or even legal decisions of the tax courts when large taxpayers are involved. As does government spending. A simple instruction to government managers to pre-pay certain expenses could create a surplus one month, and a deficit another.

This is why a more fundamentally honest way of things it to use longer intervals. Over the 10 month interval, January – October 2015, Harper ran a $17B deficit. In the interval October 2005 to October 2015, the Harper government ran a cumulative $260B deficit. Sure, they probably ran a few surpluses along the way month-to-month, but the long term picture is one of excess spending relative to revenue earned by the government.
__________________________________________

Here come the excuses.

I get it, you don’t like the numbers, so you want to use different ones, I mean the different more convenient ones. Or even come up with a whole new way of looking at things altogether!

Hey everyone does it, I was just thinking that the price of gas really should be .50/litre instead of .84/litre on the way home tonight.

I sure am look forward to filling up at that price tomorrow morning :)

#74 lol on 02.23.16 at 7:58 pm

lolololololololol

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

#75 Mike in Edm on 02.23.16 at 8:10 pm

Garth, as a typical Canadian with a voice that is barely heard, I’d love (and I’m sure many more people, and not just your blogdogs) it if you were our voice to get the CREB to change their slimey ways of putting out statistics.. Or if they won’t agree to be accurate, can a third party have access and publish the real numbers, or could the Government?

#76 Darren on 02.23.16 at 8:11 pm

Hmmm….
https://www.youtube.com/watch?v=j_ktN_h7-J4&feature=youtu.be

#77 Smoking Man on 02.23.16 at 8:13 pm

#27 RimJabba on 02.23.16 at 5:56 pm
#19 Smoking Man on 02.23.16 at 5:13 pm
Wynne is showing her true rainbow colours. While the economy crashes and burns, she is busy spending on her social justice causes. I hope the people of Toronto who elected her get a stern kick in their bottoms in the form financial accountability.
………………………..

They won’t, they are permanently mind fkd. Look at the pathetic justice warriors here on GF. They are clueless.

People have been deliberately disarmed by the education system ready for an easy financial rape. All do to years of this:
http://www.therebel.media/stoptheindoctrination

When Trump becomes President, do you think Justina the feminist has a chance at the negotiating table. Canada is doomed. For the next four years anyway.

#78 Mike in Edm on 02.23.16 at 8:14 pm

Also, a quick update on the state of Edmonton. Last weekend we attended an annual Chinese New Year dinner / fundraiser for a well-known charity. All walks of life attend, not just Chinese people! They also do a large silent auction and live auction, and wow let me tell you – EVERYONE was sitting on their wallets. Usually you’ll get at least face value for everything being auctioned. This year, the silent auction stuff was going for about 80% of face value, and the bigger ticket live auction stuff was all being sold for about a 1/3 of face value. It was quite sad as all the money being raised goes to help children and the less fortunate.

#79 Kazza on 02.23.16 at 8:18 pm

I’ve seen a fair bit of this in Alberta. Houses being relisted yes, but after only a month or so on the market. It’s hardly lived with that MLS number long enough at that point.

Home builders and real estate agents are still pandering that old buy now or it will be gone soon. Let’s get real, it’s not moving any time soon here. Though a few home builders have been blunt that things are not so rosey. New homes by builders are sitting 7 months later and sought after area home owners are sruggling to make a sale in the same amount of time.

I’ve seen $35,000 drops and pages of reduced listings, which is what it should be doing. But anyone not following closely would be led to believe that market is still hot. Leaving sold listings in advertising and the relisting of homes is not telling the true story. I cannot stand that I can’t track a home listing from start to where it is now without investing a lot of time on MLS or contacting an agent.

#80 acdel on 02.23.16 at 8:18 pm

#69 crowdedelevatorfartz

————————————————————–

That was a much needed laugh, ha,ha!

#81 For those about to flop... on 02.23.16 at 8:20 pm

Until today I had stayed out of the Kia bashing,but that is about to change… You guys are *{+}]] and I also noticed that you *#^}^}* all the *%}^}} time.
On the way to work today one of you pricks tried to send me under a semi.The description of the car is that it was white and it looked like a piece of shit( that should narrow the search down)
I noticed you were heading for the border…probably to live in exile from being ashamed for being sucked in to buying such a piece of crap.
Your lucky I want to be around when the Metrosexual Messiah losses the next election ,and the fact I love my 26 year old van like the kid I never had.
Next time I might not be so accommodating and run your ass over…

P.S …what did Sheane Wallace say to get banned ,I missed something.How is he gone and Markbot still here ?
I guess Mark is mutant cat / robot that has 9 lives…

M41BC

#82 Mark on 02.23.16 at 8:22 pm

“Dept. of Finance is a bunch of Partisans? Well, the numbers I quoted were reported on Trudeau’s watch. Harper was long gone by Dec. I guess Harper actually must have knocked it down even more than those Lib Partisan public servants at the DoF reported then no? – “

I think you’re missing the point. The Department of Finance can come up with their own methodology for determining what they believe to be ‘deficits’ — a number marketed towards the public. But the numbers as presented by the Bank of Canada, of that of the outstanding indebtedness of Canada, are far more accurate and give a far more complete picture of the government’s true fiscal situation.

Its pretty simple really. If you spend $17B more than you earn (ie: run a deficit), your debt goes up by $17B. If your debt went up by $17B, the logical inference is that one spent $17B more than they earned (ie: ran a deficit).

The old adage, “when is a politician lying — when his lips are moving” is quite apt here. The Harper government ran the finances of Canada into the ground with a $17B cumulative deficit in 2015, and ~$260B in their time in power. The previous Liberal government ran a number of surpluses. The present Liberal government is unfortunately plotting a trajectory similar to that of the previous Harper government. Both Harper and Trudeau should be heavily accosted for not being fiscally responsible. But Trudeau isn’t proposing to be inherently worse than Harper. Only time will tell what his actual behaviour ends up being (and early signs are not encouraging, although Trudeau probably will have to deal with the mess left by previous governments of both stripes at the CMHC!).

#83 The do-over - Realties.ca on 02.23.16 at 8:33 pm

[…] Source: http://www.greaterfool.ca/2016/02/23/the-do-over/ […]

#84 For those about to flop... on 02.23.16 at 8:42 pm

My commute home was more peaceful and I even managed to laugh at this new listing,about 2 blocks from my house.
A similar house went for 1.1 last year and I thought they overpayed…

M41BC

http://www.rew.ca/agents/74837/violeta-perez/my-listings

#85 Smoking Man on 02.23.16 at 8:52 pm

Love this guy, and ya I know he’s gay and I don`t care. He understands whats going on, and delivers it perfectly.

Go Milo

http://www.breitbart.com/tech/2016/02/23/3114451/

#86 hope & ruin on 02.23.16 at 8:53 pm

#226 AB Boxster on 02.23.16 at 1:28 pm
#217 Blacksheep on 02.23.16 at 12:42 pm
#221 IHCTD9 on 02.23.16 at 12:51 pm

Can Ontario, or any other province print more money to pay this debt?
No it cannot, because money is controlled at the federal level.

Ontario and other indebted provinces are ‘exactly’ like Greece as it exists in the EU.

Like Greece in the EU, none of the provinces can benefit from the fact that Canada controls its own currency.
___________________________________

@ AB Boxster. I read your post yesterday on Ontario vs Greece. That’s how I understood it too.

But Ontario isn’t exactly like Greece. One difference. Ontario is 36% of Canada’s GDP. Greece is only 1.3% of EU’s GDP.

So wouldn’t Ottawa be forced to bail-out Ontario? Or wouldn’t Ontario be bailing out itself? not sure how this affects it. just wondering.

#87 Kreditanstalt on 02.23.16 at 8:54 pm

“Investors” only buy stuff that is already rising in price…and they sell anything dropping. Fundamentals be damned…

They do the same with houses…the higher prices go, the more of a rush to “buy” (get a mortgage).

Coupled with Canadians’ blitheringly irrational perma-optimism, they’re screwed…

#88 Dave on 02.23.16 at 8:57 pm

We listed our house in may 2014 for $725…didn’t get any offers that we liked so we took it off market for 2 months. Resisted at $689 and got multiple offers and it sold for $740 .

It’s an excellent strategy. ..but you’re right it’s shady…

#89 common sense on 02.23.16 at 9:01 pm

#84 Flopper

Great listing…I live in small town Ontario, have a house a similar size with 4 times the yard and garage for $180,000.

And I think I am fairly priced…wow.

#90 WalMark of Sadkatoon on 02.23.16 at 9:10 pm

damn did anyone see those crazy toronto condo prices on theredpin? that’s just wrong. i can only imagine prices of detached houses…

#91 ben on 02.23.16 at 9:10 pm

Eric – been thinking the same thing for realtor.ca for Montreal. No idea but I bet they wouldn’t like it.

#92 WalMark of Sadkatoon on 02.23.16 at 9:12 pm

libs gonna be remembered for debt and falling GDP. sucks to be them.

#93 Stupesing in Cabbagetown on 02.23.16 at 9:12 pm

So, is the dog in today’s pic a branch manager?

#94 Mike McWilliams on 02.23.16 at 9:15 pm

So I was wondering what all this relisting was doing to the statistics now I know personally I know of at least three bungalows in Douglas Dale states in Calgary Alberta two of which were re-listed twice, one starting at $705,000.00 and eventually asking Low $600’s before it sold. Was on the market for just under a year and a half, selling last September. With at least 5000 homes apparently on the market in Calgary right now, the prices people are still asking is not making any sense right now to me either.

#95 ww1 on 02.23.16 at 9:28 pm

Today’s image caption :

“Could not decide what stick you threw, so I brought them all”.

Dog logic – wish we all were that clever.

#96 Entrepreneur on 02.23.16 at 9:33 pm

I am giving FM Bill Morneau a chance because I don’t have a choice plus I liked Jean Chrétien when he was PM, only one thing, the unbroken promise of ridding the GST, another topic.

Watching the FM, listening to what he says, and how he says it. I think he is sincere and wants to the correct options with what was given. I, myself, would prefer not so much deficit borrowing, but hopefully, the FM does this slowly and wisely with caution in the wind (& make sure our majors do not contract jobs out of country & cheap metal like the Blue Bridge in Victoria, a stab in the back). Also, maybe they are looking at revenues in the pot industry plus others.

In the meantime stimulate small businesses for a solid foundation. I do like the t.v. ad about helping people with accounting for awhile so they can concentrate on the dream. This is a good start but need more than that.

Feel free to correct the ooops, first draft.

#97 ben on 02.23.16 at 9:34 pm

Mike – agreed many in Montreal are re-listed. Partly due to sellers trying new vendors, partly to obfuscate.

#98 Two-thirds on 02.23.16 at 9:38 pm

Speaking of robotic reporters: I suspect this post was not written by Garth (dons tin-foil hat).

He needs time off too!

#99 For those about to flop... on 02.23.16 at 9:46 pm

#89 common sense on 02.23.16 at 9:01 pm
#84 Flopper

Great listing…I live in small town Ontario, have a house a similar size with 4 times the yard and garage for $180,000.

//////////////////////////////
Hey brother , it’s been a while since we spoke …hope your well.
Your numbers are the type of numbers that a pauper like me could afford .
What’s the name of the town you live in ?
I thought the town OLC lives in looks nice , a town I could live in minus the winter.

The house I listed is having a open house this weekend… It could go ,but it’s 28 years old.
I will give an update when it goes.

M41BC

#100 Nemesis on 02.23.16 at 9:49 pm

…”416, the unchallenged centre of humanity and culture…”… – HonGT

#Yes,OnceUponATime…

https://youtu.be/14C0FmyFobs

#BonusCanuckNostalgia… #The”Bed-In”Session… #DansLaBelleVille…

https://youtu.be/tlKX-m17C7U

#101 The real Kip on 02.23.16 at 9:50 pm

If a realtor lists a house and it sells in a week, what’s the first thing a seller will say? That’s right, you sold it too cheap!

Of course people list high, you can always come down right?

#102 Smoking Man on 02.23.16 at 9:51 pm

Wow a few videos of this guy. I’m No longer a homophobe.

The irony, it takes a fag as he calles himself to show us straight men what it takes to be a man..

Brilliant. And brave. This dude is pure logic. Natural black belt in Herdonomics hell hate to admit it
He’s better than me.

Sorry lefties. His ligic of fks your narative big time.

Milo Rocks.

https://youtu.be/wiESisEL43c

#103 what bubble? on 02.23.16 at 9:52 pm

Income inequality is higher in Canada than in 11 of its peers. Although Canada’s wealth is distributed more equally than in the U.S., Canada’s 12th-place ranking suggests it is doing a mediocre job of ensuring income equality. Canada gets a “C” grade on this indicator.
http://www.conferenceboard.ca/hcp/details/society/income-inequality.aspx

Already there are signs consumers are tapped out. A recent study by Nielsen recorded a six-percentage-point drop in consumers’ immediate spending intentions, to the lowest level since 2012. As for Canadians’ sentiment about the job market, it’s fallen to a level not seen since the Great Recession.
http://www.macleans.ca/economy/economicanalysis/how-canadas-economy-went-from-boom-to-recession-so-fast/

#104 Smoking Man on 02.23.16 at 10:04 pm

At 350 mark

Smokers banned from the slut walk. This is war.
https://youtu.be/UhdBkPFoOwQ

#105 clop23 on 02.23.16 at 10:09 pm

http://www.bbc.com/news/world-us-canada-35643410

#106 Metaxa on 02.23.16 at 10:15 pm

Lots of stuff…my responses in general:

Why use a Realtor or a lawyer? I’ve always bought direct from a FSBO and used a notary. Closing costs out of the Starbucks budget.

My last two spawn bought a house a couple of years ago.
With a little intellectual help from Mommy and Daddy here is what they did:
Bought a duplex.
Rent one side out, live in the other.
Can legally suite the basement of the owner occupied side.
Did that,
Also bought lots of bedrooms so…
Duplex with family on one side, single in the suite and two roommates.

After property tax, insurance and PI they are plus $660 per month.

Did I mention they bought near the hospital, advertised on the staff bulletin board there and are surrounded by nurses who pay them monthly? 4 nurses, one husband and my two ruggedly handsome and single young men.

I’ll take those odds at 23, eh?

Ask yourself a question…is your house/home an asset or a liability? If it produces income such that you get CRA write offs/write downs then it is an asset. If all it does is suck up your money for taxes, repairs, utilities, etc. then it is a liability.

Decide what you want.
First step is to maybe stop excessively worrying about what your neighbour is doing or what colour their skin is. Concentrate on you, you beautiful person, you!

#107 april on 02.23.16 at 10:19 pm

#51 – same thing said in the last boom…….

#108 Smoking Man on 02.23.16 at 10:20 pm

DELETED

#109 common sense on 02.23.16 at 10:28 pm

#99 Flopper

A small town called Fort Erie..15 mins to Niagara Falls, 1 min to Buffalo, NY if you need some action…

Best of both worlds taking advantage of both sides of the border, country small town life and US city next door…

Good luck with the potential move.

#110 Don't blame me I voted for the conservatives. on 02.23.16 at 10:36 pm

#34 IHCTD9 thanks for doing the research and putting all the anti Harpers in their place. Harper was far from perfect but compared to the turd who has replaced him god help us all.

I can’t stand those bleeding heart liberals they will live to regret voting Turdeau.

#111 cramar on 02.23.16 at 10:44 pm

Got a huge laugh out of the dog picture today! Looks staged though.

Brought back memories of 15 years ago. Our pooch loved to pick up sticks on her walks. The 6′ sticks were hilarious to watch. Try carrying a sixer by holding it near one end! The dog could not understand why she couldn’t carry it. Had to show her to carry it in the middle.

Getting through the yard gate with a big stick was another challenge. She never did figure that one out!

Dogs are so funny. You gotta luv ’em.

#112 WUL on 02.23.16 at 10:45 pm

Bear with me on a tangential and off topic point and then I will favour you with an obvious yet pithy tidbit on Calgary real estate.

The Oilers GM is busting his ass to see if he can swing a deal with Tampa to swap Taylor Hall for Ekblad (Tampa is losing Stamkos and Drouin). Won’t take place. Yzerman is not that dumb. UCC is right. Stamkos signs with the Leafs.

The Calgary average house price number is not fudged. It has not changed YOY. This year’s $475K average (the same as last year) is buying last year’s $550K house.

Why is that hard to figure out?

#113 Investx on 02.23.16 at 10:52 pm

How is this fraudulent real estate listing practise allowed to continue?

#114 cramar on 02.23.16 at 10:53 pm

Speaking of Wynne in Ontary-harry-oh!

Have you bought your car licence recently? It is going up to $120 this Sept. Now it is $105. Last year $98. In 2014 was $90.

Thank you Wynne! What is the official inflation rate again?

#115 In Calgary on 02.23.16 at 10:55 pm

“This is why, for example, Calgary is in the middle of a commodity-based economic crisis, and yet the average house price is (supposedly) up 1.64%. If that passes the smell test, you’ve had your proboscis in the wrong places lately.”

Prices here in Calgary are stable. People are moving in to the city so why would prices go down, with record low rates to boot. So Realtors stats can’t be believed this time? But they can with regards to the extent of foreign investment in Vancouver??

I’m confused with this blog.

#116 MF on 02.23.16 at 11:07 pm

#109 Don’t blame me I voted for the conservatives. on 02.23.16 at 10:36 pm

IH puts them in their place almost nightly on this blog. He speaks the truth and is a force to be reckoned with on here.

MF

#117 Popeye the Sailor Man on 02.23.16 at 11:20 pm

I think Realtors have a purpose but we need a lot less of them. Have them more regulated and have sales data belong to the public like stock info.
Commissions should be a lot lower with less Realtors the take home will still be good due to more volume per Realtor.
If there is less Realtors they will not need to spend so much promoting themselves to get heard over the noise.

You come across a good realtor once in a while but many are at the entry level of skill, knowledge, and are starving so they will do anything to make that commission.

Since this is all legally binding stuff, Lawyers hired by the buyer could and should be doing more in the process to protect the buyer. I would like to see the realtor and a independent lawyer team working more closely to protect the buyer. The seller can do the same also.

I had my lawyer sell my property to my renter in 2001 for $980 after the renter and I agreed on a price over the phone. I had to be at sea for a month and when I got back the money was in the bank. it went smooth!

They could do so much more.

#118 For those about to flop... on 02.23.16 at 11:23 pm

#109 common sense on 02.23.16 at 10:28 pm
#99 Flopper

A small town called Fort Erie..15 mins to Niagara Falls, 1 min to Buffalo, NY if you need some action…

Best of both worlds taking advantage of both sides of the border, country small town life and US city next door…

//////////////////////////////
Hey Common , I guess the closest I have been to your neck of the woods is when I visited Niagara Falls in 2002.
I already know I couldn’t live in TO.
I live less than 10 k from down town Van but I only go down there 2/3 times a year.
Thanks to the Internet you don’t have to go downtown as much ,just to pay bills and such.
It seems common that the older we get the farther away from crowded places we wish to be.
Peace brother.

P.S It feels weird without our buddy FF on the blog,I miss that crusty gumboot after all.FF whens our next play date ? I miss abusing you…

M41BC

#119 Steerage Bilge on 02.23.16 at 11:25 pm

Thank goodness the courts sorted that one out.. hey SM was that you!

“An Ottawa public servant has won the legal right to work in a separate building from an irksome colleague who walked barefoot in the office, washed his feet with vinegar, made loud guttural noises, broke wind and swore.”

http://news.nationalpost.com/news/canada/bureaucrat-wins-right-to-work-in-separate-building-from-man-who-used-vinegar-to-wash-his-feet-at-office

#120 b riding dirty on 02.23.16 at 11:30 pm

I live in a town home in the heart of langley. Across the street on 208th acerage torn down for pre sold town homes. And the land keeps getting more cleard each day. Known as the last more white area in the valley, do to a real conservative base that have not alloud hindu or punjabi temples to be built. Look at abbotsford or surrey. Come for a visit to those cities largest population outside of india. And now my beighbor just sold there town home. In a complex nick named bridal-hood.
Also known for its amount of devorced familes living in it.

Listed 3 bed 3 bath 1550 sq ft 1990 build 375k
Sold bidding war asians won yeahhh!! 431k

Garth you need to come out west so you can get some info before you tell your millions apon millions of kool aid drinking blog dawgs about what you think is going on and come see what really is going on.

French, english…. More like english and asian, at least that’s what all the signs are.

Life and canada as we know it is being sold off. Look at the bentall towers. Largest commericial deal in bc history sold to the chinese.

Time to wake up and see what canada is losing.

After all your generation will be dead in 10 to 20 years its me and my generation that will have to blame all your generations dumb mistakes and no balls calls and policies.

Hey just saying.

Ps love this blog. Beats fighting with my wife.

Dirty debtor

#121 Dain Bramage on 02.23.16 at 11:36 pm

@WUL #112:

Re: Calgary average price: I have suspected as much for the last few months. It’s nice to see someone else is thinking along the same lines.

I previously thought that we would have seen more of an appearance of price reductions in the Calgary Teranet index by now. Maybe the sellers need a few additional months to face reality before the real slide begins.

#122 KS on 02.23.16 at 11:38 pm

2 houses on my street in Milton sold within days and over asking as well.

#123 Danger Dan on 02.24.16 at 12:06 am

This is the new economy. Everyone is pumping something til the well (or sewer) runs dry

#124 kommykim on 02.24.16 at 12:29 am

RE:

#34 IHCTD9 on 02.23.16 at 6:09 pm #238 Mark on . Oh, and stop interchanging debt numbers and deficit numbers like they are, well – interchangeable

Deficits increase the debt. Finance 101.

#125 Mark on 02.24.16 at 12:38 am

“Prices here in Calgary are stable. People are moving in to the city so why would prices go down, with record low rates to boot. So Realtors stats can’t be believed this time? But they can with regards to the extent of foreign investment in Vancouver?? “

Few with any level of credibility believe the “stats” as given on either Calgary or Vancouver. In the case of the former, many Realtors won’t even touch a property unless the owners are willing to price at 25% beneath 2013 prices. And even then, traffic is low.

As for Vancouver, anyone who has studied the data clearly would come to the conclusion that its local speculators, such as Realtors, with their 10-20 houses a piece, as the driving force in a very narrow range of the Vancouver marketplace that is statistically disproportionate. All bought heavily on credit. Soon to face a fate similar to that depicted in that YouTube video someone posted of Australia.

#126 nonplused on 02.24.16 at 1:10 am

I need to teach my dog to gather firewood like that. Especially with all these crazy “carbon taxes” (the tax on everything, really no more than a second GST) coming at us.

#127 Carousel on 02.24.16 at 1:15 am

I also have noticed relistings of certain homes over the year. And the homes are listed 2 or 3 times. My homework on a particular home of interest is to check BC Assessment if it has been sold anytime or it is up for sale as a flip by the new owner. I then type in the address and check as far back for previous listings. Have gone back to 2014 listing on a home, and it also states the original asking price. Be diligent, and you will be surprised what you will find on the internet about homes that have been relisted. It is like a cat and mouse game dealing with realtors, the ones we have dealt with, have really ticked me off. It is like pulling teeth to get information out of them. Are they all so dishonest?

#128 bobby on 02.24.16 at 1:32 am

The more the government spends on social programs the more power over the people they have, I’m starting to think we might look like venezuela down the road. WHo with 2 brain cells rubbing together would vote in higher taxes and more social deficit spending.

#129 Ponzius Pilatus on 02.24.16 at 1:34 am

#70 Tony on 02.23.16 at 7:49 pm
Re: #6 RimJabba on 02.23.16 at 4:50 pm

The meme of Keynesian economics was to spend in good economic times. Today we see Trudeau the second doing the opposite.
—————–
Garth, this guy should be awarded some kind of award for stupidity.

#130 Blacksheep on 02.24.16 at 1:34 am

AB Boxster # 54,

“Where will all this extra revenue come from?
You the taxpayer, or your services get cut.
That’s the only choice you get.”
—————————————
I bet you believe your actual tax $’s cover the cost of governmental operations : )

Really just a bunch data entered in the correct side of the ledger to balance out your liability. Create demand, money in / money out, control the volume.

It’s all about the Cattles perception.

#131 AB Boxster on 02.24.16 at 1:48 am

#85 Smoking Man on 02.23.16 at 8:52 pm

Re: Milo
__________________
Thanks for this link.
Very interesting presentation.

It was nice to hear some voices of common sense in the sea of feminist insanity.
T2 should be forced to watch this.

Should be required content for all young men, especially those thinking of entering an institute of ‘higher learning’.
(ie. entering the lair of the cultists)

Milo’s comments on male feminism are particularly biting.
That Justin identifies as a feminist explains much.

Harsh jabs at the state of media today.
Some interesting shots at Canada policy near the end of the video.

I hope that Trump wins, if only to piss off the feminists in the world.

#132 zudnic on 02.24.16 at 2:41 am

Not bragging just a point. I grew up mostly in Tsawwassen, several of my friends fathers are dentists and then moved to the British Properties. Met some other kids with wealthy parents. We all had parents credit cards, most restaurants, we ate at. Not expensive but I practically ate at White Spot everyday with my friends, even paid their bill, or sometimes someone else would pay everything. We all had expensive cars, etc. Nothing too excessive, did buy a stereo because I thought it was cool, $2500. Dads credit card, no yelling or don’t do it. We spent a lot on clothes, etc. I bought Cartier watch. Point, it was rich kid welfare, we looked rich, but it was our parents money, not ours. After we finished school and got jobs, once we supported ourselves. All my friends got off rich kid welfare.

The real point, most of the Asian kids are on the same rich kid welfare as me and my friends had. Non of us invested in real estate, some of us could have.

I wouldn’t count on Asian foreign investment in real estate and a rate they buy up everything in the lower mainland. Again, living in the British Properties, most buy one nice house and live in it 30 years.

#133 David Driven on 02.24.16 at 3:29 am

Desperate cash grab by the REDS in Ontario could spin hundreds of companies out of Ontario.

http://business.financialpost.com/news/property-post/some-of-canadas-largest-companies-facing-ontario-land-transfer-tax-hit-worth-millions?__lsa=07c1-9938

This is definatley going to crater REITs and further screw investors, especially the seniors whose advisors had sought safety in land. Word to the wise. Get out of Canada before the Federal Reds suck your company and bank acct dry.

#134 Julia on 02.24.16 at 6:33 am

The other misleading information is due to underpricing houses to create a bidding war and proudly announcing that a house sold for $100,000+ over asking. I see that in my neighbourhood and it’s absolute nonsense.
Agents seem to think it makes them look good when it just makes them look like they didn’t know the market and didn’t price correctly in the first place.

What I want to know is what the sale price compares to other actual sale price for similar homes. I don’t think asking price is that relevant whether set too low to create a frenzy or too high because of a seller’s unrealistic expectations.

#135 Ace Goodheart on 02.24.16 at 6:50 am

UPX just announced reduction of fares to $5.00 from Weston station to Union.

Not sure if any of you know what this means, but I’ll explain…It used to be that Mount Dennis and Weston were places that people looking to buy houses in Toronto loved to hate. One reason was lack of transit. It takes over an hour, on over crowded busses, that never come on time, to get downtown.

Well now there is an express train service leaving every 15 minutes, that takes 17 minutes to get to Union Station, with one stop inbetween.

You can buy a three bedroom house in Mount Dennis for under 500K, with parking and a leafy backyard.

Now you can commute from here to Downtown in 15minutes, for $5.00.

Let the bidding wars begin?

#136 Herb on 02.24.16 at 7:15 am

#129 Ponzius Pilate,

good thing the amateur members of the Troll Patrol don’t realize how dumb their comments are.

If propaganda isn’t at least partially credible, it’s counter-productive.

(Darn, Garth, here I go praising something I agree with again.)

#137 Realtor & Medical Marijuana Grower on 02.24.16 at 7:38 am

Garth, those realtor stats make a lot more sense after a couple of good tokes :)

Try it, dude. And chill………………

#138 WalMark of Sadkatoon on 02.24.16 at 8:02 am

nobody cares about this realtor fudged data about Vancouver and Toronto real estate or relist high sell low or whatever. it still costs many multiples of household income and unfortunately that hasn’t changed for a long time. stop splitting hairs.

Knowledge is the currency of modern life. If you want people to stay poor, think this way. I don’t. — Garth

#139 data on 02.24.16 at 8:11 am

Garth-

All that your showing is that 5 out of 6 prices sold at asking, which is very good hit ratio and shows the market is trending higher on healthy news. If 1 out of 6 was brought down, what was the average price of those 1 out of 6 listings – if mega mansions or Jane and Finch, you might read the whole thing alot different.

Let’s be fair and post it fair and square.

Incorrect. Properties selling during the initial listing period do not automatically command full price. Some are over, many are under. Your assumption is invalid. — Garth

#140 gut check on 02.24.16 at 8:12 am

A point about feminism:

I’m an old school feminist, and proud of it. All I have to do to remind myself of the good that the feminist movement has done is to think about all the women who were born, lived and died before women had the right to an education, to own property, to custody of her own children, to work or even to protection from the law when assaulted. (and remember, spousal abuse was legal, essentially, until the 1970s.)

Whatever the new wave of feminism is I guess I am not familiar with it – there is so much hate spoken about it but no specifics. Many people I respect are ‘anti-feminist’ which hurts me because when I hear that I wonder which part of myself I am going to have to divorce in order to be taken seriously by those people?

Do I stop identifying with the rights I’ve just listed above? Do I stop being female?

Perhaps what anti-feminists are actually up in arms about is their own perceived victimization? IE divorce awards, custody abuses, lack of access to work, etc? If that is the case then the target isn’t feminism. it won’t do any good to shake your fists in that direction.

Anti-feminists, it seems to me, are going for the low hanging fruit and they just come off as bullies, IMO.

Go get the people with the power to change what you’re really upset about. Or would you like me to do it for you since I’ve actually got a pair (of tits)? ;)

/rant

#141 Crabby on 02.24.16 at 8:32 am

#23 Toronto Real Estate Agent on 02.23.16 at 5:45 pm
I have been an agent in Central Toronto for 19 years , the reason why houses are relisted at a lower price is most sellers are really really really greedy and the only way to show them what their house is really worth is to list it and show them they are being unrealistic. Everybody seems to love to kick us realtors! I smile knowing that I do a great job for my clients and take care of my family really really well from my hard earned commissions.

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

And there’s nothing wrong with giving sellers a dose of reality. However, the problem lies in how relisted homes are being presented and how the sales figures are then calculated. The withholding of such information and lack of full & frank disclosure is why realtors and the real estate boards have a bad reputation.

#142 Smoking Man on 02.24.16 at 8:33 am

As predicted by the The Man, The Smoking Man!!!

Trump Tsunami destroys Navada

While he takes a commanding lead and basically clinches the Nomination.

Hilary is asking white men to to be ashamed of their skin color, and privilege.

She’s finished.

#143 Smoking Man on 02.24.16 at 8:37 am

#140 gut check on 02.24.16 at 8:12 am
A point about feminism:

I’m an old school feminist, and proud of it. All I have to do to remind myself of the good that the feminist movement has done is to think about all the women who were born, lived and died before women had the right to an education, to own property, to custody of her own children, to work or even to protection from the law when assaulted. (and remember, spousal abuse was legal, essentially, until the 1970s.)

Whatever the new wave of feminism is I guess I am not familiar with it – there is so much hate spoken about it but no specifics. Many people I respect are ‘anti-feminist’ which hurts me because when I hear that I wonder which part of myself I am going to have to divorce in order to be taken seriously by those people?

Do I stop identifying with the rights I’ve just listed above? Do I stop being female?

Perhaps what anti-feminists are actually up in arms about is their own perceived victimization? IE divorce awards, custody abuses, lack of access to work, etc? If that is the case then the target isn’t feminism. it won’t do any good to shake your fists in that direction.

Anti-feminists, it seems to me, are going for the low hanging fruit and they just come off as bullies, IMO.

Go get the people with the power to change what you’re really upset about. Or would you like me to do it for you since I’ve actually got a pair (of tits)? ;)

/rant
………….

Excellent post.

I brake it down to two categories.

Lefty Feminist, Man hating hysteria.

Right Feminist, ass kicking Entrepreneur types. I’m with these Feminists 100%

#144 45north on 02.24.16 at 8:39 am

A pension expert, Morneau was executive chair of Morneau-Shepell, Canada’s largest human resources firm and a former chair of the C.D. Howe Institute, which has been critical of the federal pensions.

http://ottawacitizen.com/news/national/public-service-pension-plan-faces-4-4b-paper-deficit-that-may-draw-critical-fire

it’s important to know his background. He already had a extensive knowledge of pensions before he became Finance Minister.

Kathryn May, the author of the article did her homework.

#145 IHCTD9 on 02.24.16 at 8:55 am

#82 Mark on 02.23.16 at 8:22 pm

I think you’re missing the point…[etc…]
___________________________________________

I’m not missing your point, I just don’t agree with anything you’ve said.

You think Harper was a financial disaster?

What are you going to think Trudeau was after we’ve been force fed a 100 Billion+ black hole?

Please answer with as few words as possible.

Thanks

#146 gut check on 02.24.16 at 9:25 am

Smoking Man,

thanks for that.

man hating hysteria is bad. Most of the insanity with the social justice warriors these days is just nuts and I hope the pendulum has swung as far as it can and will start the move back again soon. I wonder sometimes if it’s a creation of the propaganda / selective media machine (I hope it is)

TRUMP – I have to admit that although there are some unpalatable things about him I’m dead curious to see what would happen if he won. I’m not scared of him – I totally respect the way he talks to his crowds and to the press. it’s hard to believe we’ve gotten to the point where anyone can call what he does ‘a breath of fresh air’ !! but alas, here we are!

#147 WalMark of Sadkatoon on 02.24.16 at 9:27 am

#145 IHCTD9 on 02.24.16 at 8:55 am

WalMark of Sadkatoon salty that he was unemployed for most of harpers reign

#148 WalMark of Sadkatoon on 02.24.16 at 9:29 am

Real estate prices over 10x median household income in Toronto and 15x in Vancouver. ridiculous

#149 Smoking Man on 02.24.16 at 9:44 am

Attention world business

Come to Commie Canada. We promise not to find ways in the future to retroactively change the rules and hit you with a tax grab.

Forget this

http://business.financialpost.com/news/property-post/some-of-canadas-largest-companies-facing-ontario-land-transfer-tax-hit-worth-millions?__lsa=fb0d-676b

It’s a onetime event, we promise we wont do that to any new business

Come and invest………We are special

Ontario govt clueless.

#150 IHCTD9 on 02.24.16 at 9:49 am

#140 gut check on 02.24.16 at 8:12 am
A point about feminism:
____________________________________________

New school femminazis have lost their sense of what is reasonable, and the extremist sect of same just plain hate men. There is a well known red headed, F-bomb dropping “activist” you can Google up if you need an example. Folks like her, and her clique of obese dog-faced thugs run around calling themselves feminists.

You and the other old school (ie. real) feminists should be trying to make a distinction between yourselves and the F-bombers.

#151 Investorz on 02.24.16 at 9:51 am

Royal Bank energy loan losses are pretty bad. 20% higher than expected.

Bank stocks will weaken. Too many factors against them.

Give it 1 year and retail credit will start hurting. Then layoffs, and with it people struggling with their mortgages even in Toronto.

My bet:
– Bank worsening results from here
– 18 months to start seeing more listings in Toronto

#152 cramar on 02.24.16 at 9:56 am

#140 gut check on 02.24.16 at 8:12 am

I’m an old school feminist, and proud of it. All I have to do to remind myself of the good that the feminist movement has done is to think about all the women who were born, lived and died before women had the right to an education, to own property, to custody of her own children, to work or even to protection from the law when assaulted. (and remember, spousal abuse was legal, essentially, until the 1970s.)

—————

“You’ve come a long way baby!” as the saying goes. But in human society where the strong have always preyed upon the week, there is still a long way to go for a truly egalitarian society.

When aboriginal women are disappearing for decades before some politician decides that just maybe we should look at the issue; when a woman calls the police 22x over protection order violations and nothing is done until she is finally murdered; when women are harassed within our respected Mounties, there is still a l-o-n-g way to go!

And what about the rest of the world?

I watched a program where a Pakistani father and daughter were being interviewed. The 11-year-old was asked what she would like to do after finishing school.

She said, “If I am still alive, I’d like to become a doctor so that I can serve my people.” I realized that she was saying, If the Taliban does not kill me first . . .

Remember Malala Yousafzai?

#153 Herb on 02.24.16 at 10:10 am

Mark, let me chime in and feed the troll –

#145 IHCTD9,

1. Yes.

2. I’ll let you know after Trudeau has force-fed us a 100+ B black hole. It would be reasonable to blame a man after he’s done something stupid, if what he does turns out to be stupid, not in advance of him doing anything.

You can always tell a Neandercon, you just can’t tell him much.

#154 AB Boxster on 02.24.16 at 10:10 am

#140 gut check on 02.24.16 at 8:12 am

Perhaps what anti-feminists are actually up in arms about is their own perceived victimization?

——————————————————
So in contrast are you saying that ‘old school’ feminists were up arms about womens’ perceived victimization?
How misogynistic of you?
Or perhaps both comments are absurd in the extreme.

Women have achieved the equity that they demanded and rightly won. But equity seems to not be enough.
The new wave feminism that is making its way through universities, politics and law is decidedly anti male,
and specifically anti white male.

The ‘Trump’ effect in the US is one manifestation of this.
The consent culture, rape culture, trigger warning, safe place seeking, tripe being spewed is not feminism.
It is cultism and hatred in the guise of women’s issues.

As the traditional feminist movement has morphed into this mess, and you agree with it, then own it.
If you disagree with it, and have done nothing to change it, then you are complicit in it.

Either way, it is women who are defining it and creating this movement.

This movement, in its current genesis, will do nothing to further women’s issues.

It’s portrayal of women as ‘unable to live in normal life – Tigger Warnings’ , fearful off all men – Rape Culture,
‘requiring special treatment under law and system – ‘Safe Spaces’, defining all interaction as a potential sexual assault – ‘Approved Consent’,
moves women back into realm of the weaker sex, that needs to be protected from the paternalist society that is set against them.

In fact, it presents women as exactly the opposite what traditional feminists fought against for the past 50 years.

Which is why, almost no one, (except idiot university leaders and politicians) will identify as feminist.

Active pushback from men, and other intelligent women, has begun.
Others just passively ignore actual women’s issue, as they do not want to support the cult.

And if you are a true traditional feminist, that fully believes in women’s equity, and strong intelligent, independent woman, why would think that anyone has any expectation that you personally need to solve this?
Especially if you have a pair?

Have you learned nothing about the struggle for women’s rights over the past 50 years?

#155 gut check on 02.24.16 at 10:12 am

#150 IHCTD9 on 02.24.16 at 9:49 am

You and the other old school (ie. real) feminists should be trying to make a distinction between yourselves and the F-bombers.

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

I just did, Mister.

#156 Herb on 02.24.16 at 10:15 am

IHCTD9 at #150

proudly brandishing his Neandercon club to beat down “femmnazis”!

#157 maxx on 02.24.16 at 10:17 am

#3 Industrial Guy on 02.23.16 at 4:38 pm

“……. maybe they should send some cash to the poor real estate brokers of Southern Alberta……”

Let ’em rot.

#158 gut check on 02.24.16 at 10:21 am

#152 cramar on 02.24.16 at 9:56 am

“You’ve come a long way baby!” as the saying goes. But in human society where the strong have always preyed upon the week, there is still a long way to go for a truly egalitarian society.

When aboriginal women are disappearing for decades before some politician decides that just maybe we should look at the issue; when a woman calls the police 22x over protection order violations and nothing is done until she is finally murdered; when women are harassed within our respected Mounties, there is still a l-o-n-g way to go!

And what about the rest of the world?

I watched a program where a Pakistani father and daughter were being interviewed. The 11-year-old was asked what she would like to do after finishing school.

She said, “If I am still alive, I’d like to become a doctor so that I can serve my people.” I realized that she was saying, If the Taliban does not kill me first . . .

Remember Malala Yousafzai?

************************88

I’m not sure I understand how this is a rebuttal of my point, but I’ll make a short answer.

I agree that it is still a man’s world. Supporting evidence is all around us.

#159 Smoking Man on 02.24.16 at 10:30 am

#146 gut check on 02.24.16 at 9:25 am
Smoking Man,
thanks for that.
man hating hysteria is bad. Most of the insanity with the social justice warriors these days is just nuts and I hope the pendulum has swung as far as it can and will start the move back again soon. I wonder sometimes if it’s a creation of the propaganda / selective media machine (I hope it is)
TRUMP – I have to admit that although there are some unpalatable things about him I’m dead curious to see what would happen if he won. I’m not scared of him – I totally respect the way he talks to his crowds and to the press. it’s hard to believe we’ve gotten to the point where anyone can call what he does ‘a breath of fresh air’ !! but alas, here we are!
…………………………

It’s the machine at work. I think there are some secret Trillionares out there that run the show.

People’s lives have been getting shitter for the last 30 years. My dad a ww2 vet, had a war damaged brain, swept floors for a living, mom was a stay at home tailor. They had a 10-bedroom house at Dovercourt and Collage, a cottage and always had nice cars.

Look at today, a professional couple can barely make ends meet.

What better way for the machine to stay safe and un-noticed, never on the radar.

They get everyone hating each other through cultural programming and mind fking. Now they are bringing in a culture by the millions, ak Europe that is not compatible with western values. More division and hate.

That way, they stay safe and unnoticed.

But what I fear and yes, I’m wearing my tin foil Fedora as I type this. If I was one of them I would be thinking: too many people roaming the planet, let’s find a way to lighten it up a bit.

#160 Noel on 02.24.16 at 10:49 am

I believe that if we didn’t have to suffer through policy blunders such as scrapping the long-form census we’d have better data collection on housing. It was clearly never a goal of the Conservative gov’t to provide accurate information to the plebs.

But, taxes.

#161 gut check on 02.24.16 at 10:51 am

AB Boxster – that was a long diatribe and I’m just not in the mood to defend my non-man-hating, non-modern-feminism-defending post against your sh!t slinging. If you want to go back and read what I wrote (properly this time) and then have a comment then that’s another thing. As it stands you are just having at me as if I represent all the problems of the world. yeah, as I said, not in the mood for it.

#162 gut check on 02.24.16 at 10:53 am

#159 Smoking Man.

great post.
The global game of monopoly is ramping to a crisis point.

#163 CHERRY BLOSSOM on 02.24.16 at 11:12 am

You forgot to lump car salespeople in with realtors, financials, politicians. So who does this leave? Doctors perhaps who don’t really care anymore just squeeze in as may clients a day and push the pharmaceuticals, like the pain killer Oxy that has created millions of drug addicts out of normal people. Do we all have to become scum to survive and prosper?

#164 SWL1976 on 02.24.16 at 11:22 am

Another take on Feminism and Women’s Liberation

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

I am all for equal rights for everyone, but I am also into understanding just how distorted our monetary system has become and just how low the creators of currency will stoop to real us is

They’re much worse than real estate boards

#165 AB Boxster on 02.24.16 at 11:35 am

#161 gut check on 02.24.16 at 10:51 am

that was a long diatribe

—————————
Indeed it was long.
About as long as your first post.

And I did re-read your first post.

My comments are in direct response to this:

‘so much hate spoken about it but no specifics – Really, no specifics?

‘Perhaps what anti-feminists are actually up in arms about is their own perceived victimization’

‘Perceived victimization? Is that another radical feminist buzzword?

‘Anti-feminists, it seems to me, are going for the low hanging fruit and they just come off as bullies, IMO.’

Do you believe that standing up for injustice is being a bully? Is that what the traditional women’s rights movement of the past 50 years is. Bullying?

Nothing in your post differentiates you as a traditional feminist, from the brand of radical feminism that I comment on, especially your comments.

Your final comment on:
‘I agree that it is still a man’s world. Supporting evidence is all around us.’
(Well maybe that’s just your ‘perceived injustice’, with ‘no specifics’- right?)

Though I do agree here with you.
In 90% of the world it is a mans’ world.

Yet radical feminists don’t see subjugation of women throughout the world as worthy causes.

It is far more important to create imaginary ‘rape cultures’ in Canada and the US, than it is to address real rape ‘actual’ rape cultures that exist elsewhere in the world today.

Those that still believe that in Canada, in 2016, that it is a ‘mans world’ then you have bought into the ‘us against them’ mantra of the radical movement.

If you consider my comments as hateful towards you then you are wrong.
The ideas of radical feminism are hateful, and to challenge them is appropriate.

And if they are your beliefs, then please feel free to feel challenged.

In a world of free speech, one can take exception to and challenge hateful ideas without resorting to ad hominem.

The characterization of another as hateful, or racist, is often thrown around by those without ability to debate or argue a valid position. Others just walk away cuz their not in the mood.

#166 Jamie Dimon on 02.24.16 at 11:37 am

#23 Toronto real estate guy

By greedy sellers do you mean the people who hire and pay your salary? You’re absolutely right, if the sellers would just take less money the realtors could finally start reporting and disclosing actually numbers…..typical.

#167 learningfromyou on 02.24.16 at 11:40 am

Thank Garth as usual.

I know that it’s just a ridiculous dream but I’d like to see a law forcing the government to use their own funds without having the possibility to get into more debt, if you do not have the money then suck it and get smaller and more efficient.

On the other hand another law will be necessary to control their way to claim more taxes.

The fact that Ontario wants to go 17 years back in history to claim taxes for transaction made at that time is simple ridiculous.

These boys at the gov. are spoiled people that take credit as their main solution to solve their inefficiencies over the years.

I was told that there was a lady in Mississauga who controlled the debt of the city for years

http://www.theglobeandmail.com/news/toronto/mississauga-goes-into-debt-for-first-time-in-three-decades/article544659/

-Maybe we have to call somebody like her to Toronto and put a bunch of people in unpaid leave forever?
-Including the finance minister?

#168 Just Wondering on 02.24.16 at 11:46 am

Peter Schiff says: Brace for an Economic Pearl Harbour

You mean that guy who’s now a gold salesman? What a surprise. — Garth

#169 Billy-Bob on 02.24.16 at 11:54 am

LOVE the pics Garth
Im reposting this because most are clueless to the dangers and individual freedoms..Ive been in hi tech for 25yrs and you pretty much can be watched by big brother.
Its going to get worse.
http://moneytalks.net/article-and-commentary/michael-campbell/mikes-interview-of-the-week/16797-mikes-editorial-a-interview-of-the-week.html

#170 BlackDog on 02.24.16 at 12:00 pm

@#140 GutCheck re: “Go get the people with the power to change what you’re really upset about. Or would you like me to do it for you since I’ve actually got a pair (of tits)? ;) ”

Or as Lily Allen sings in “Hard Out Here”:

https://www.youtube.com/watch?v=L5JvhPo2SRI

#171 Billy-Bob on 02.24.16 at 12:00 pm

#249 Shawn on 02.23.16 at 4:12 pm
Campbells not there to point fingers. That’s pointless.
They are untouchable….Checkout Rumsfield and his gang..
These people have full immunity and are untouchable..
Freedoms have been taken away period.
It was a few minutes to listen to and has more importance then most things you will ever come across.

#172 IHCTD9 on 02.24.16 at 12:03 pm

#153 Herb on 02.24.16 at 10:10 am
Mark, let me chime in and feed the troll –

#145 IHCTD9,

1. Yes.

2. I’ll let you know after Trudeau has force-fed us a 100+ B black hole. It would be reasonable to blame a man after he’s done something stupid, if what he does turns out to be stupid, not in advance of him doing anything.

You can always tell a Neandercon, you just can’t tell him much.

__________________________________________

Great! Let’s make a deal. I don’t think you or I will remember these posts 4 years from now.

So let’s pick this up again at the end of this year, and we’ll see how T2 is doing on the deficit front.

At that point, if T2 has pounded us 25 Billion or so into the hole, then we’ll see if you are reasonable enough to blame Trudeau for doing something stupid, and to see if you really had anything much to tell a nNandercon after all.

Or will I instead hear more excuses, more apologies, and more economic historical revisionism?

Simple answer: Accept, yes or no?

#173 soothsayer on 02.24.16 at 12:10 pm

the biggest scam in history is about to unfold over the next 10 years or so when people start to realize they’ve been dooped into a housing bubble by realtors and their respective governing bodies.

-Phantom bids
-Collusion between agent
-No transparency on sales/prices to average Joe
-False claims/stats
– etc etc etc.

HOT POTATO PASS IT ON! Are you going to be holding it when the music stops?

#174 gut check on 02.24.16 at 12:16 pm

AB Boxster

I’m not a radical feminist so you are barking up the wrong tree. the entirety of your post is made up of twists and tortures of my original post. If you’re going to read all sorts of things into what I said then I’m not interested in playing your game.

For goodness sake I never accused you of being hateful and I never identified with a single thing any radical feminist has ever done.

Standing up AGAINST injustice can be done with tact and diplomacy or it can be done by screeching nags… Don’t make yourself a shining example of the latter by continuing to try and draw me into a conversation that I am not in the least bit interested in having with you.

#175 SWL1976 on 02.24.16 at 12:29 pm

#159 Smoking Man

But what I fear and yes, I’m wearing my tin foil Fedora as I type this. If I was one of them I would be thinking: too many people roaming the planet, let’s find a way to lighten it up a bit.

———————————-

They have. But, as you also pointed out that too many people are too busy trying to make ends meet and bickering with one another to notice.

It’s called a soft kill and it is part of a depopulation agenda…

And people think I’m crazy

You want crazy look it up!!!

#176 gut check on 02.24.16 at 12:29 pm

@ #170 BlackDog on 02.24.16 at 12:00 pm

hey! I forgot about Lily Allen.
now I’m going to have to listen to a playlist while I work.

#177 Smartalox on 02.24.16 at 12:37 pm

Don’t see this posted yet:

Saudi Arabia’s oil minister Ali al-Naimi spoke to a packed room in Houston this morning. Hundreds of energy executives from dozens of countries were there to listen.

http://www.cbc.ca/news/business/saudi-oil-minister-in-houston-1.3459539

I’m not in the oil business, but this speech struck me as a bully’s empty threat – “don’t take me on, because I’ll beat you all! I Mean it!”

Sure, Saudi can tolerate $20/bbl oil, but for how long? Saudi is neither a diversified, nor a particularly thrifty economy, and they seem to be engaged in unprofitable wars right now.

I suspect this speech is intended to hurry the competition along out the door, the bet being that once shuttered, high-priced oil producers would be loath to re-start, staff up, renew contracts before oil were to climb above $50 or so, giving the Saudis a sweet spread to Jack prices, but keep competitors out of the market.

I wonder how a new National Energy Policy would go down in AB these days. The old NEP fixed prices at $40/bbl, and mandated a market for Canadian crude to be refined and used at home. I bet Albertans would be pretty happy to have some certainty like that, right now.

Sure, it’s not economical, and gas prices would rise above $1.25/l, but so what? Canadians have been paying those prices for the last decade anyway, we’re used to it.

#178 IHCTD9 on 02.24.16 at 12:43 pm

#155 gut check on 02.24.16 at 10:12 am

I just did, Mister.
____________________________________________

Seriously, it’s no different than the average hard working black family man being tarnished by rap culture.

Probably going to keep getting worse unless the old guard starts protesting the extremists in public. I think that is not going to happen, so things will keep getting worse.

#179 dont' get me started on 02.24.16 at 12:43 pm

When looking to purchase, first thing you should ask (your realtor or the listing agent if not working with a realtor) to have them provide a property history printout. It lists everything: assessment, taxes and whole history since land was first sold/purchased, house built (if any), any time the property was listed and for how much, any time price was adjusted, how many days was sitting on mrkt, whether it was taken off the mrtk or listing expired, listing agent code so you can tell if same or different agent was trying to sell it, etc. Everything is there. If realtor does not want to provide the printout – walk away.

Also, if working with a realtor – you can have them setup an access to listings (same as they have with some limitations) based on your criteria: i.e. price, area, type of property etc. As soon as new listing comes up – it will show in “your” database. You can then track DOM, price changes, solds (including sale prices), expires, and/or taken off mrkt. Again if realtor does not want to set this up for you – proceed on to next realtor.

Do your homework.

#180 IHCTD9 on 02.24.16 at 12:53 pm

#156 Herb on 02.24.16 at 10:15 am
IHCTD9 at #150

proudly brandishing his Neandercon club to beat down “femmnazis”!
___________________________________________

Maybe you better go read that post again…

I got no issues with feminism prior to the internet showing up, and am in fact happily married to a feminist (You’d like her, she votes NDP – the party Trudeau should be leading).

Back when equal pay, equal opportunity in the workplace were the big issues, anyone could get behind them. Nowadays, they want to toss men in jail for shouting at their wives (in the UK). Reasonable goals have been met, mainstream activists have been satisfied, now only the crazies remain…

#181 Rexx Rock on 02.24.16 at 12:55 pm

Ontario will be burdened with higher taxes for years to come.Like I said the government will keep pushing the envelope until nobody has any money left.Just wait and see,the government will blow your mind when new taxes come in the next couple of years.Escape or die by a 1000 cuts meaning tax increases.

#182 Snowboid on 02.24.16 at 12:56 pm

#4 Rick on 02.23.16 at 4:48 pm…

While it’s correct to say that prices aren’t back to 2006 levels yet, if you are talking ‘recovery’ you should indicate how real estate has performed since the bottom of the crash.

Here in Phoenix the bottom was September, 2011 (source Case-Shiller index of 100.22) and as of December 2015 had recovered to 157.22.

In the case of DC the bottom was March 2009 at 165.94 and as of December 2015 is up to 210.27.

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

#10 Dirty Debtor on 02.23.16 at 4:58 pm…

If you read up on Herdonomics (copyright SM) you will also realize that it only takes a small event for the herd to start mass selling if they think they will lose money. YVR could be the only city in Canada that truly experiences a crash worse than the US of a few years back.

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

#23 Toronto Real Estate Agent on 02.23.16 at 5:45 pm…

I’m sure you do a great job, I really value the buyers’ agents we have used (and the discount agent who sold our former Victoria home) . Of course you wouldn’t mind if MLS starts publishing the actual DOM, price reductions, re-listing, etc!

#183 AB Boxster on 02.24.16 at 1:14 pm

#174 gut check on 02.24.16 at 12:16 pm

——————
My apologies, as you did not call me hateful.

My intent was not to draw you into a conversation or twist your words. I was only responding to them as I read them in your post.

Your comments, that I have misinterpreted them is fair.
I meant no personal offense.

#184 Bram on 02.24.16 at 1:38 pm

#173 soothsayer on 02.24.16 at 12:10 pm
-No transparency on sales/prices to average Joe

Sales prices are public information to which you have access.

E.g. you could use BC Assessment eValue website.
http://evaluebc.bcassessment.ca

This shows the recent sales of EVERY property in BC. (Last 3 years.) For more real time prices, LANDCOR.

Bram

#185 Moller on 02.24.16 at 1:41 pm

#61 Victor V on 02.23.16 at 7:23 pm
No rate hike either.
http://www.theglobeandmail.com/report-on-business/economy/bank-of-canada-steps-up-warning-on-household-debt-rules-out-rate-hike/article28869373/

Interest rates will stay low for a long long time.

#186 Millenialfalcon on 02.24.16 at 2:01 pm

Peter Schiff says: Brace for an Economic Pearl Harbour

You mean that guy who’s now a gold salesman? What a surprise. — Garth
————-

Uhhhh Ur a salesman to Garth

Ah, I sell nothing. And give you this blog. Say thanks. — Garth

#187 Mark on 02.24.16 at 2:02 pm

“I’m not missing your point, I just don’t agree with anything you’ve said. You think Harper was a financial disaster?”

Of course Harper was a financial disaster. $260B in new GoC debt, and who knows how much more hidden at the CMHC in off-balance-sheet guarantees that are certain to go bad speaks for itself.

Trudeau initially “promised” $10B deficits. I said at the time that I felt such was unrealistic, in light of the actual $26B/year average deficit ran by the Harper government.

Now Trudeau’s government is saying “$52B over the next 2 years”. Which ironically is exactly what Harper actually ran, as a deficit, in an ‘average’ year (including $17B in the year 2015 up to when he left office!).

Is only a $26B deficit realistic? I don’t know. It doesn’t really give Trudeau much, if any room for ‘big spending’. I suspect it will be worse in actual fact. But I will give Trudeau the benefit of the doubt unless he proves otherwise.

#188 $251.4 M on 02.24.16 at 2:07 pm

Ok, Alberta time to go shopping.
How does 51st state sound.
Does the current Government care?

#189 gut check on 02.24.16 at 2:08 pm

BoC rules out rate cut because … drumroll please….
we’re too in debt!

is that ironic or is it just me?

#190 gut check on 02.24.16 at 2:09 pm

lol.. I meant rules out rate HIKE.
*sigh*
sometimes my fingers bypass my brain when I type

#191 45north on 02.24.16 at 2:26 pm

Noel: I believe that if we didn’t have to suffer through policy blunders such as scrapping the long-form census we’d have better data collection on housing. It was clearly never a goal of the Conservative gov’t to provide accurate information to the plebs.

so we don’t have the Conservative Government anymore. With the new open and transparent Liberal Government this problem should be resolved but it’s not. Both the Conservatives and Liberals are committed to maintaining an opaque real estate market.

The US system is far superior. You can find out days-on-market and selling price ( not just the last selling price but all the selling prices going back 10 years ). You can do this on-line without a real estate agent.

http://www.zillow.com

Of course the situation in Canada will change. I mean after the worst real estate crash in history, with the Canadian middle class lying on the floor.

#192 Noel on 02.24.16 at 2:29 pm

#187 Mark

Now Trudeau’s government is saying “$52B over the next 2 years”. Which ironically is exactly what Harper actually ran, as a deficit, in an ‘average’ year (including $17B in the year 2015 up to when he left office!).

Is only a $26B deficit realistic? I don’t know. It doesn’t really give Trudeau much, if any room for ‘big spending’. I suspect it will be worse in actual fact. But I will give Trudeau the benefit of the doubt unless he proves otherwise.

_________________________

I’m guessing $45bn this year, $35bn the next. This will include extended EI payments for the oil patch and some limited time only tax rebates for business investment in order to force some stimulus.

Which in context is perfectly reasonable, and the smart thing to do, in my opinion.

#193 pbrasseur on 02.24.16 at 2:43 pm

Brazil just got downgraded, again to speculative status!

And we are still AAA because we still sell expensive houses to each other…

#194 cramar on 02.24.16 at 2:46 pm

#158 gut check on 02.24.16 at 10:21 am

I’m not sure I understand how this is a rebuttal of my point, but I’ll make a short answer.

I agree that it is still a man’s world. Supporting evidence is all around us.

———-

Not a rebuttal, just a comment on what lies ahead is as great as what lies behind. Especially on the world stage.

#195 gut check on 02.24.16 at 2:50 pm

@ #183 AB Boxster on 02.24.16 at 1:14 pm

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

thank you and if I was too strong in my replies then please accept my apology for that, also. Fundamentally we seem to agree, so I’m happy to go from there.
cheers!

#196 Kreditanstalt on 02.24.16 at 3:07 pm

#168 Just Wondering

Ignore the detractors: they know nothing about monetary history.

Mainstream “investors” dislike Peter Schiff because of a) his father, Irwin Schiff & tax evasion/avoidance; and b) because he sounds “shrill” to them. Nothing else.

Question: does anyone really believe that Schiff suddenly decided to flog gold and to better do that THEN opted to go into the “investment” field with a doomsday outlook?

More likely the other way around! (And gold has – quietly – been the best performing asset of the year to date.)

Schiff had a father? — Garth

#197 max on 02.24.16 at 3:26 pm

Back in the day, before Bay street and Howe street became one in the same. The penny stock market of the VSE, was easy to make money if you understood one thing, it wasn’t investing. The brokers made a killing the big stock promoters of the day, made a killing. All of them stock sellers, not investors. Now they are all wealth managers and very little wealth is created on our stock markets. The money managers, all chase the same big safer deals. While the junior mining companies raise just enough to survive.

Too bad all the big sellers of stock are long gone. The Murray Pezims and Bruce McDonalds. If they where still here we’d have a red hot resource stock market, more wealth creation. Real estate would be dead and boring.

I never met a rich economist, or a very wealthy money manager. Besides the players named above, I knew some very rich stock brokers, some very rich penny stock players, even a Vancouver billionaire, who wasn’t known as such. Do you know who get really wealthy? Those players accountants. I know four former accountants worth over a $100million. Non of them invested, they took options on deals from the beginning and cashed out when their was a demand.

The VSE was taken away, due to some of the same things real agents are doing. A market fueled by greed always crashes very badly. I wonder what Bay Street are going to do to them. You see the stock market is in crisis, they should never have turned brokers into money managers, we need sellers. And so is real estate, with the drama teacher in charge and his money manger not creator, we are doomed.

#198 Herb on 02.24.16 at 3:50 pm

#172 IHCTD9,

change “25” B to “x” B and “yes”, you’re on!

I don’t much care about the final amount spent this year or subsequently. I care about what it’s spent on, and to what effect. Trudeau could tell Alberta to eat tar sand, forget about unemployment East or West, reduce grants and contributions, let the pips squeak, flog more Crown assets, you name it, and save his our money. The man could do anything, since he has the absolute majority, does not face re-election for four years, and things could change in the interim.

Or he could do whatever is necessary for the good of the country, the whole darn country. He has the machinery of government to determine the situation nationally and internationally, and to deal with it within the realm of the possible. That is “politics” and all any PM can or should do, as opposed to “politicking” for the good of the party, supporting sector or voting base .

If “T2” does this, I will praise him, regardless of sex appeal, ideology or Father. If not, I will damn him the way I did the predecessor who did not. But I will wait until the efforts are evident and the results foreseeable – without the admixture of prejudice!

That is my “ideology”, as our host should know after nine years.

#199 Frank on 02.24.16 at 4:32 pm

Irwin Schiff. He was not a tax cheat- he simply proved that the income tax act in the USA was never ratified and the government had to shut him up. Interesting the IRS was created the same year as the PRIVATE Federal Reserve in 1913. Monetary history Garth. Ever read any?? Here is another for you- Presidential Order 11110. 3 months later JFK took multiple-multiple bullets.

#200 Noel on 02.24.16 at 4:38 pm

#191 45north

so we don’t have the Conservative Government anymore. With the new open and transparent Liberal Government this problem should be resolved but it’s not. Both the Conservatives and Liberals are committed to maintaining an opaque real estate market.

__________________

Agreed 100%. The Liberals and the Conservatives have a lot more in common than what separates them. If I were more politically inclined I’d write my MP and ask them to look into it. But I’m politically agnostic on financial issues because they’re all pretty much the same when it comes to things that would make a difference in my life.

Its the social differences that drive my vote.

#201 koenig on 02.24.16 at 4:46 pm

I have a great aunt, she’ll be 96 soon. Back in the 19980’s her husband died. My cousins both adults at the time, one took over the family business, the other moved back from Hawaii. She was living there on rich kid welfare. In other words, my uncle supported her. My aunt always said invest in real estate. She sold her house, moved into a 3bedroom apartment in Etobicoke and bought a few units in the same building. Her husband, was also a big believer in real estate. My cousin turned the family business, from an owned warehouse building and 30 people. To a one man show, run from his condo. He sold his house at a loss!

Situations change. My aunts only real estate venture not under water today, is a farm her husband bought in the 1970’s. When people say invest in real estate, they should be more clear and say land!

So now we have people in Vancouver running out and buying condos and townhomes all over the lower mainland and Fraser Valley. Little off topic, I know the owner of the gas station, its a major chain franchise. Well yesterday, she was talking with another lady about real estate, she said her townhomes bought in Langley 3 weeks ago are already up $100k. I asked her if she plans to rent them, she said no tenants would wreck them. Back to reality. The people who get rich off condos and townhomes, are the people who build them. Building costs are very low if you build 100 or more units.

http://www.rew.ca/properties/R2030028/208-1369-56-street-delta

http://www.rew.ca/properties/R2027080/207-5011-springs-boulevard-delta?page=5&property_search=366128206

http://www.rew.ca/properties/R2014229/203-1250-55-street-delta

Any one who buys a house, condo or townhome surrounded by vacant land is a moron. Builders will build until there is no more demand left. To squeeze out every last drop, they’ll even put brand new cars in the garage and drop the price to a ridiculous level. Guess what, just like the broker that sold a hot private placement they still make money as long as there is buyers.

Can’t predict when this market will crash out. But like the penny stock, brokers and promoters rarely get left holding the bag, us the general public will. The poor schmuck who bought surrounded by land.

#202 jess on 02.24.16 at 4:53 pm

“But the bank of c. made it clear it has no plans to use higher rates as a means to quell Canadians’ appetite for debt. Raising rates, he said, is “a very blunt instrument” that could derail the economy.”
=========
Greenspan rising rates and the unwinding?

bankers trust & FleetBoston
THE BANKERS TRUST TAPES
In just-released court papers, Procter & Gamble lays out racketeering charges against Bankers Trust. The key evidence: Some 6,500 tape recordings
the acronym `ROF’–short for rip-off factor
http://www.businessweek.com/1995/42/b34461.htm

http://www.nytimes.com/1999/05/30/business/the-deep-slush-at-bankerstrust.html?pagewanted=all
http://www.nytimes.com/1994/04/14/business/worldbusiness/14iht-procter.html

Go-Go ’90s Alan Greenspan rules the economy and “the less regulation, the better” is the administration’s attitude toward Wall

In The Warning, veteran FRONTLINE producer Michael Kirk unearths the hidden history of the nation’s worst financial crisis since the Great Depression.
http://www.pbs.org/wgbh/pages/frontline/warning/
http://www.pbs.org/wgbh/pages/frontline/warning/etc/warnings.html

#203 jess on 02.24.16 at 4:56 pm

OECD urges shift away from austerity in favour of public investment
By:Emma Rumney18 Feb 16

“The OECD has urged its members to move away from austerity towards a “new strategy” of exploiting cheap borrowing and increasing public investments, particularly in infrastructure.”

=======
REIT executives served with grand jury subpoenas
UDF facing a federal investigation
February 22, 2016
Cynthia Barraza

http://bizbeatblog.dallasnews.com/2016/02/united-development-says-top-officers-got-federal-grand-jury-subpoenas.html/
http://www.housingwire.com/articles/36347-reit-executives-served-with-grand-jury-subpoenas

#204 Lukazi on 02.24.16 at 5:04 pm

Sweet Jesus. 750k over asking…

http://www.vancitybuzz.com/2016/02/3555-west-1st-avenue-kitsilano/

#205 jess on 02.24.16 at 5:11 pm

Drugs now kill more Americans than cars

In 1999, there were more than twice as many motor vehicle deaths as fatal drug overdoses. By 2014, those numbers had flipped, with almost 40 percent more deaths from overdoses than car crashes. In all, 29,230 people died in car accidents in 2014, while 47,055 died from a drug overdose.

http://www.pbs.org/wgbh/frontline/film/chasing-heroin/

#206 salonist on 02.24.16 at 5:29 pm

nectonite puts on tin foil and voila

rocket mortgage
push button
get mortgage

https://rocket.quickenloans.com/

nectonite
Coffin Apartments
http://kotaku.com/5986944/japans-coffin-apartments-are-not-for-claustrophobes

#207 Tony on 02.24.16 at 5:38 pm

Re: #205 jess on 02.24.16 at 5:11 pm

The average American can’t afford or doesn’t have enough money to buy even a used car today. That would be the main reason.

#208 Realistic Realtor on 02.24.16 at 9:54 pm

Go ahead and find a nice home without being in a bidding war in Vaughan these days…I dare you!

#209 Mark on 02.24.16 at 10:04 pm

Houses are getting ridiculously expensive, and it is not just on the mls.

Even looking at private sites, which are not mls (similar to kijiji, but not full of real estate agents puffed listings), the cheapest apartment they have is 291,000 (http://www.homenova.com/index.php?route=listing/view&id=45). While granted it is a good price, this is for a 1 bedroom 1 bathroom apartment in mississauga, which is hardly a place to raise a family.

So I agree that real estate agents are benefiting from this facade, since higher prices mean higher commissions, but definitely private sellers are benefiting from this as well.