Begging

EVAC modified

Canine evacuees fly out of a work camp north of Fort McMurray on Friday..

 

How to end such a week?

First, we go to North Vancouver, that boring swath of houses hugging the far shore of Vancouver Harbour between the Iron Workers and Lions Gate bridges. Apart from one great Holiday Inn and one weird mall, it’s a forgettable place when you look at it from downtown, creeping up the mountain until gravity takes its toll.

It used to be cheap, too. But the benchmark pile is now worth $905,000, which is 22.6% more than this time last year and 40% higher than 36 months ago. As I’ve said here a few times, higher prices bring higher prices, because people expect them to go higher. It’s a quirk of human nature that the more some things cost, the more folks want them. Especially when they believe – for the first time in recorded history – that valuations will never drop again. Romans used to think that way. It’s touching.

So do Michael and Martina Gyori, our first beggars of the day. Here’s their recent Facebook entry. “A family photo we just made to include with our ‘pleading’ offers on houses in North Vancouver,” they wrote. As if that’s not wacko enough, Michael adds, “We’re probably going to make a video for an offer tomorrow… it’s pretty crazy and only might make a difference if our offer is equal to a competing offer…” And he promises not to flip.

BEGGING

Have M&M ever considered moving? A 30-minute commute could drop their shelter costs by half. Or staying renters, building their wealth instead of walking into a market so distorted you have to beg someone to take your money? Obviously  conditions are unsustainable. And it’s not Chinese guys, but delusional, desperate people like these who are moving the market. It’s a hallmark of a coming asset collapse, after all, when everything thinks it’s impossible.

Which brings us to Langely, and the next set of beggars. This is a classic. People in a suburb so far down the Fraser Highway from the city centre that it might as well be in another country (and almost is). But apparently people here also believe everybody wants to live where they live, that real estate values will endlessly climb, and it therefore makes sense to spend two weeks outside in a lawn chair, peeing in a jar, so you can buy a townhouse that won’t be built for two years.

“Here’s another example of how the housing madness in 604 continues,” says blog dog Wilson. “Now way out into the suburbs, east of Surrey!” Madness indeed. Five dozen people are tonight living in tents outside a condo sales centre behind a twisted person who first camped out there two weeks ago.

Even more distressing is that the average age of the nutbars is almost 60. Sheesh. And we thought generational dorkiness was confined to the Millennials. The developers, apparently fearing the old farts will do each other in, have declared a one-buyer, one-unit policy and outlawed bidding wars.

LANGLEY CAMP-OUT

Meanwhile some of the campers have hired students to sit on their ass and do nothing (like a real job) in order to hold their place in line for an apartment costing between $400,000 and $700,000. The benchmark price for properties in the area, by the way, is about $780,000 and thanks to the locals, has increased 30% in a year.

The sales office opens Saturday at noon. In the meantime thirsty underwear is being donated by the Red Cross.

And this brings is to the last set of beggars – guys begging for rest, relief and support.

The effort to try and save swaths of Fort McMurray from the incinerating inferno which engulfed it a few days ago is overwhelming. Hundreds of men and women are walking into walls of flame, breathing clouds of smoke and working without hesitation even knowing their own homes may be destroyed as they sacrifice for families they have not met.

So while fools worry about buying houses they don’t need and usually can’t afford, others – heroes – lay their own safety down in the service of others. Would you do that for $40 an hour?

FIREMAN 1

163 comments ↓

#1 TurnerNation on 05.06.16 at 6:27 pm

Well, thinking like a heartless evil Elite running our world – the ones with so much money it’s now about control, planning over us little folk, if their plan is an “Agenda 21-esque” movement to force us off rural land and its sustaining features of farming, oil & gas, then a controlled burn in AB as we see underway would certainly accomplish this. Starting fires, modelled by computers, is child’s play. Satellites above watch at all times.

I hope I’m wrong but watch the rural exodus underway. Concentration into the big cities.

Pray for Canada and its citizens. Remember I said a few months ago the next few years will be hellish to us? 1001 new laws will be passed each year for this, our money handed away elsewhere.

..
Cheer for leaders who hand back (some) of our hard earned tax dollars, like 50-60% of income taken away, and expect us to sing songs of praise?

TO’s transit system trails even second world countries’.

http://www.cbc.ca/news/canada/toronto/trudeau-transportation-1.3569602

#2 Dirty dog on 05.06.16 at 6:29 pm

First? Now I’ll read it.

#3 Linda on 05.06.16 at 6:37 pm

$40 per hour is cheap given what is being done. However, at least one of your recent blog commenters (#132 under the Quandary blog comments section) who seems to think fire fighters are not worth the money they are paid. Now, that commenter does specify Ontario as the province that could fire all cops, FF (fire fighters) & teachers & replace them with ‘fully qualified’ personnel at 2/3’s the price the next day. I disagree. Fire fighters are like insurance. You hope you never need it, but when you do, boy is it worth every cent. And unlike insurers, fire fighters don’t hike their rates just because it was a bad fire year. Bless them, every one.

#4 LH on 05.06.16 at 6:38 pm

no shame in renting….
the easiest way to pay off a mortgage is not having one

I had to do it the hard way:
Just discharged the mortgage to my primary residence this Spring. Took me two years. Not going through this again.

#5 ROCK BEATS PAPER on 05.06.16 at 6:39 pm

The horrible irony is that Fort Mac might take Canada’s GDP down enough to cause the Central Bank to foolishly cut, especially given the recent weakness in the US, which will keep Yellen on the sidelines until after the election.

#6 TRUMP on 05.06.16 at 6:41 pm

Keep a tab on those chin-grinnin beggars.

Soon it will be …… divorce court, 60lbs overweight (each), a pile of debt they can’t stand to have, and tears in their eyes.

Oh what a bubble-burst can do.

#7 steve on 05.06.16 at 6:45 pm

Looking at the family photo – it appears to me that only the dog has some sanity left and questions strategy employed

#8 TRUMP on 05.06.16 at 6:47 pm

“Delusional Tools” !!

#9 Smoking Man on 05.06.16 at 6:50 pm

The Herd…………………
So long as they are doing what the others are doing they feel safe.

The Education System…………………….

Kathleen Wynee. Won the election talking like a teacher with “Safe Hands.”

Ha…….

Humanity is screwed.

On a good note. At Seneca.
I’m back too objectifying females again. Urges are coming back, finally!!!!. Sheryl Valentine are you listening.

Just waiting for misogynistic tendencies to come back and I’m good to chase down SJW and slay them with my keyboard.

#10 Smoking Man on 05.06.16 at 6:53 pm

Oh, on Fire Fighters.

Bravest, goodest bastards in the world. Closest thing humans will get to a god.

#11 The Poor Dog on 05.06.16 at 6:58 pm

Look at the face on the poor dog. Humbled and embarrassed by the owners willigness to beg. Shame

#12 ww1 on 05.06.16 at 6:58 pm

#2 Dirty dog on 05.06.16 at 6:29 pm
First? Now I’ll read it.
————————————————-

Yet another annoying “first” loser who isn’t even first.

Reading this blog : excellent information.
Reading the comments : some excellent posts – force you to think – even when they are bizarre.
Reading “first’r” posts : confirmation that there are lame losers even more sad than your own life.

#13 Wildrose on 05.06.16 at 6:59 pm

As a member of the CF I want to thank all the men and women who are tirelessly contributing (directly and indirectly) to help battle the fires and the people affected by this disaster. Positive thoughts to all involved.

#14 Uncle Scrooge on 05.06.16 at 7:01 pm

How dare you say Capilano Mall is “weird”, I would say rather “esoteric”.

#15 Prediction on when prices will actually go down? on 05.06.16 at 7:01 pm

Well, if you believe that oil prices aren’t going up substantially for the next two years, and it doesn’t look like interest rates will skyrocket either…

what, and when, can we expect housing prices to go down?

and how much? Buy today, go down 3 years from now, in a stagnated fashion?

Remember, you said that a crash is 30% or more.
Well, real estate has jumped 20%+

That’s the logic.

#16 Alberta Ed on 05.06.16 at 7:06 pm

Lower Mainland prices will dramatically reset when the Juan de Fuca plate breaks loose again. The devastation will dwarf the 9.2 magnitude Good Friday Alaska quake and tsunami in 1964 that nearly wiped out Port Alberni.

#17 Bla bla bla on 05.06.16 at 7:13 pm

Most Chinese don’t borrow money for cars or houses in Metro Van.

#18 When will they raise rates? on 05.06.16 at 7:16 pm

The insanity on display in 604, 905 and 416 is astonishing.

The aftermath of this “correction” will be epic. As they say, the bigger the bubble, the bigger the pop… Lot’s of fools are gonna get absolutely crushed this time around. Sadly, I will feel zero sympathy for any of them.

On a side note, my brother in law and her fiancee are being pressured by her parents to buy in Richmond Hill. They have about $35,000 saved up, her parents will chip in the rest for the down payment… Incidentally, the fiancee’s father owns 31 residential properties in and around the GTA. Yes, 31 (with varying degrees of leverage). He thinks RE is the only way to get ahead. She is listening to him, and refuses to rent based on the father’s brainwashing. Brother in law is screwed (and so will the father in law be when the market corrects).

#19 Y m o 3 on 05.06.16 at 7:20 pm

North Van forgettable? There’s awe inspiring hikes and sights!

#20 Sebee on 05.06.16 at 7:25 pm

This is great. As prices go north of million everywhere, government will be bailed out and losses will be by individuals and banks dumb enough to lend them, correct? Where is the problem? Let’s push it all north of 1m, get CMHC off the hook and then we can buckle up and land. Makes perfect sense.

#21 TS on 05.06.16 at 7:26 pm

The average salary in Vancouver is 80,000 and the average sale price of a detached home is 1.3 million dollars.

What big 5 bank is lending families with $150,000 income that much money? None

Why are Vancouver real estate firms opening offices in Shanghai?

Housing will never fall in Vancouver because the stream of foreign money won’t

Your ideas work for cities like Ottawa and Halifax Garth. Vancouver is a different beast

You look foolish denying it

Read my post. Chinese guys not even present. — Garth

#22 Smoking Man on 05.06.16 at 7:27 pm

On my first beer. My lovely waitress bewildered that I’m not having wine. Wondering if there 4 dollar tip is in jeopardy. Well to their amazement the tip is now 6.50 beers are only 4.50 and I got a shit load of tens.

Already having hallucinations after two sips.

I see David Suzzuki and Grald Butts north west of Fort Mac setting of fireworks last Monday. Celibrating the demise of the oil sands.

Like the soup Nazi in Seinfeld, no pipe line for you.

#23 waiting on the westcoast on 05.06.16 at 7:29 pm

I saw the line up earlier this week as I live in Langley. It’s crazy! But this is the new normal… until it isn’t.

Met with the parental units and was lectured on the joys of having a multimillion dollar mortgage. It’s like all anyone can see is that you will miss out on the future price increases all the while discounting the risk of taking on massive amounts of debt.

Well – our little family will be leaving these shores for a year test in South America. Where we can buy 100 hectares (250 acres) of farm that is producing 100k of income for the price of one of those homes on a tiny lot in Vancouver. In a country with a cost of living about 70% of what it is here….

#24 Lee on 05.06.16 at 7:34 pm

Our firefighters have it bad they are insurance. Try being a Correctional officer real deal hep C and AIDS and fires everywhere. Oh yeah paid $35 Hr. No sleeping through 24 Hr shifts. 9/11 has not paved our way. Society’s forgotten x2.

#25 tkid on 05.06.16 at 7:35 pm

WUUUUUUUUUUUUUL!

#26 jimmy j jim on 05.06.16 at 7:38 pm

Cue the Fort Mac hero worship. It’ll take years before we hear the end of how hard the rich rednecks have had it.

#27 Interstellar Stuff on 05.06.16 at 7:41 pm

#22 Smoking Man on 05.06.16 at 7:27 pm

On my first beer. My lovely waitress bewildered that I’m not having wine. Wondering if there 4 dollar tip is in jeopardy. Well to their amazement the tip is now 6.50 beers are only 4.50 and I got a shit load of tens.

Already having hallucinations after two sips.

I see David Suzzuki and Grald Butts north west of Fort Mac setting of fireworks last Monday. Celibrating the demise of the oil sands.

Like the soup Nazi in Seinfeld, no pipe line for you.

That’s a 5.50 tip you retarded math challenged drunk!! Did you fail elementary school! But yeah hallucinations!

#28 nonplused on 05.06.16 at 7:45 pm

$40 an hour to save Fort Mac? Ya if the leadership is competent I’d consider it. Unfortunately I don’t have the training.

#26 jimmy j jim Please go away, this is a real tragedy and you are a child.

#29 J on 05.06.16 at 7:48 pm

Sadly and no disrespect to all those who have lost so much…this may be the best buy out they will ever see. It will be on the backs of the insurance companies of course. I hope that no one else loses their lives battling this and may they all find happiness in the end. A big cheque helps.

#30 Freedom First on 05.06.16 at 7:51 pm

Top and Bottom photos are very heartwarming.
……………………………………………………………………..

Dog lovers take the last flights out. Not surprised.

Yes. Firefighters. Heroes.

#31 Give us this Blog our daily Garth on 05.06.16 at 7:53 pm

#2 Dirty dog on 05.06.16 at 6:29 pm

First? Now I’ll read it.
———————
Nope! You’re still an imbecile.
Make sure to read my post when you’re done.

#32 family beagle on 05.06.16 at 7:57 pm

There’s one person missing in the family photo… the banker. Just more amateur speculators — now exploiting underage children in a pitch. I think BC law requires the tots to receive a portion of future equity in trust until their 21 (child actor regulations). I’m probably being facitious, but it reminds me of this hobo clan in Poco who used their kids to panhandle.

Ft McMurray is a tragic wakeup call. Keep a natural gas wrench handy if you’re among the few of us who live in the Cascadia Subduction Zone and care.

#33 Chaddywack on 05.06.16 at 8:04 pm

It might not be Chinese guys Garth, but the local media has done a great job at playing this angle. Everyone I know feels prices suddenly went up this year because of “the Chinese.”

Where’s Cam Good and his helicopter tours of Hope?

#34 Shirley Valentine on 05.06.16 at 8:05 pm

#9 Smoking Man on 05.06.16 at 6:50 pm

The Herd…………………
So long as they are doing what the others are doing they feel safe.

The Education System…………………….

Kathleen Wynee. Won the election talking like a teacher with “Safe Hands.”

Ha…….

Humanity is screwed.

On a good note. At Seneca.
I’m back too objectifying females again. Urges are coming back, finally!!!!. Sheryl Valentine are you listening.

Just waiting for misogynistic tendencies to come back and I’m good to chase down SJW and slay them with my keyboard.
*******

Smokey babe… you’re back you studly beast!! The God Alien Emperor of Forex… back making serious $$.. riding the market which ever way it goes… one day I get a ride in that space ship to learn these secrets

Now aren’t you supposed to objectify the sword swinging mrs?.. she must have helped save your fevered ass.

Does the book now have a comfortably numb chapter? – you have lived it!!

There is no pain, you are receding
A distant ship smoke on the horizon
You are only coming through in waves
Your lips move but I can’t hear what you’re saying
When I was a child I had a fever
My hands felt just like two balloons
Now I’ve got that feeling once again
I can’t explain, you would not understand
This is not how I am
I have become comfortably numb

#35 Smoking Man on 05.06.16 at 8:07 pm

Hammerd on 3 beers. You got to know the most antisipated fiction book ever written is getting close to publication when I do shit like this.

Click on my name for full frontal nudity.

Life is for living…..

#36 Interstellar Old Yeller on 05.06.16 at 8:11 pm

I wonder if emotional appeals like the family photo ever really make a difference. And if so, how much of a difference? If an investor shows up and says, “yeah, I’m looking to flip, here’s an extra $1k” does the nice family get told to take a hike?

Agree with others, the family dog looks like he was against this photo gambit but got outvoted.

#37 Westvan on 05.06.16 at 8:11 pm

So ur saying these old people should stay home and watch the news about fort Mac ? What’s them buying houses have todo with a Forest fire or firefighters pay? not sure where your going with that … Good effort trying to tie the two in together but stick to our day job

#38 tundra pete on 05.06.16 at 8:12 pm

Being stupid is one thing, but being stupid and publishing it online is really…..stupid.

Hard to believe that the ass media isn’t making money here with a new series of “World Series of Bidding Wars”, or “Stars of the Bidding Wars”. An adrenaline fuelled battle to the end with the highest bidder winning the shack. The hipsters roll up in their leased beamer or Dads Range Rover, strut their stuff and beg, borrow, and steal the bank of moms last penny. All the while the “big 5” flash their colors and brag how easy it is to get financing.

Coming soon to a network for you. Hell, I’d even watch it on pay per view. Just hearing of bidding wars makes me laugh. Can’t cure stupid.

#39 Dd on 05.06.16 at 8:15 pm

NFP a massive miss. Might as well ignore it. Lol.

#40 Westvan on 05.06.16 at 8:23 pm

#39 Dd on 05.06.16 at 8:15 pm
NFP a massive miss. Might as well ignore it. Lol.
——–
Haha don’t worry he will spin it, ” USA at full employment so naturally jobs gains will taper off now they gona get wage growth”

#41 For those about to flop... on 05.06.16 at 8:24 pm

I have a friend who is a fire fighter six months a year based out of Chilliwack.

I caught up with him recently and he said he was fighting some of the big ones up in the interior last summer for $26.50 an hour.

Overtime after 7 hours but only allowed to work 12hrs maximum.

He stated he used to make more money in Construction but fire fighting is his passion.

No fear, and a little bit crazy…

M41BC

#42 ALBERTASTROPHE on 05.06.16 at 8:33 pm

Albertans sincerely thank everyone sending their best wishes and donations this way. This is a truly epic event.

Ironically, though not really that strangely when you think of it, I have had some friends tell me that there is a big silver lining in all this that is a real positive.

Losing your overvalued, heavily mortgaged home to a fire means freedom and liquidity once that insurance cheque comes in. Especially important for the thousands who have recently lost work.

I have spoken to many in the last few days who have suffered such losses and are looking on the bright side, and planning to get out of Dodge.

Pretty weird too, that this will likely turn out to be the last, best chance, for some oddly lucky Albertans to escape the coming real estate meltdown.

#43 Bob Dog on 05.06.16 at 8:36 pm

What happens to the mortgages on the hyper-inflated homes in Fort McMars. I sure hope the taxpayer (CMHC) does not end up paying the banks for their fraudulent loans.

The real estate situation in Canada is criminal. Criminal Bankers need to be prosecuted and jailed.

#44 HellandBack on 05.06.16 at 8:38 pm

“instead of walking into a market so distorted you have to beg someone to take your money?”

This is the most pathetic part. The seniors on TV sitting in line thinks it’s the best deal in town and there’s no bidding war, and the price is set. Little do they know what will happen when prices drop in two years and the place is threatening to go under like all the others back in 2008. Pony up or lose it all.

What can you do when the minds are so effing warped but laugh at the insanity.

#45 Smoking Man on 05.06.16 at 8:40 pm

Sherly Valintine fourth beer. Holly crap I can’t walk.

I’ve left the comfortable numb world for this one. Yeah ok midlife near death thing..but it’s such a cool song. It made the book.

Let’s go to the beach, each
Let’s go get a wave
They say, what they gonna say?
Have a drink, clink, found the Bud Light
Bad bitches like me, is hard to come by
The Patrón, own, let’s go get it on
The zone, own, yes I’m in the zone
Is it two, three, leave a good tip
I’ma blow all my money and don’t give two shits

I’m on the floor, floor
I love to dance
So give me more, more,
‘Til I can’t stand
Get on the floor, floor
Like it’s your last chance
If you want more, more
Then here I am

Starships were meant to fly
Hands up and touch the sky

#46 Victor Y on 05.06.16 at 8:42 pm

I guess no more soft landing in 604?

#47 Shirley Valentine on 05.06.16 at 8:55 pm

#45 Smoking Man on 05.06.16 at 8:40 pm

Sherly Valintine fourth beer. Holly crap I can’t walk.

I’ve left the comfortable numb world for this one. Yeah ok midlife near death thing..but it’s such a cool song. It made the book.

Let’s go to the beach, each
Let’s go get a wave
They say, what they gonna say?
Have a drink, clink, found the Bud Light
Bad bitches like me, is hard to come by
The Patrón, own, let’s go get it on
The zone, own, yes I’m in the zone
Is it two, three, leave a good tip
I’ma blow all my money and don’t give two shits

I’m on the floor, floor
I love to dance
So give me more, more,
‘Til I can’t stand
Get on the floor, floor
Like it’s your last chance
If you want more, more
Then here I am

Starships were meant to fly
Hands up and touch the sky

Dance party on the Smokey spaceship!! Party on stud. But remember you have to survive the book launch!

#48 Mark on 05.06.16 at 8:57 pm

Nothing on that stellar US jobs report and all the rate hikes Janet Yellen and the Fed plan to rain down on us Garth?

No rate hikes coming, back to 0% soon and QE shortly after. December 2015 was simply to save face, everyone knows it now.

#49 meslippery on 05.06.16 at 8:59 pm

(Would you do that for $40 an hour?)
Maybe but I think then Min wage should be a lot more.
You see $40 after tax is not rich…

#50 Give us this Blog our daily Garth on 05.06.16 at 9:00 pm

Some excerpts from my My new book titled:
“How do we sleep at night? – a guide to Living and Dying in Vancouver

Please enjoy.

Vancouver: A city in which many Canadians and Foreigners flock to live. And for good reason. Let’s face it, the weather is fantastic (nothing disastrous) , there are jobs (not all are great and they pay in CDN), and then there’s the world best drinking water (It is truly amazing stuff).

Vancouver: A city that has become a victim of its own success. Yes, that is right. All these people. That’s the problem.

The more people selfie themselves on Facebook with a snow capped mountain or a Kits beach sunset backdrop looking like they are having the time of their lives, only brings more people.

I’ve been here since 1995 and I’m telling you it gets a bit worse here with every passing year. I remember when a $300K McMansion in Richmond was.. “insane”.

The Patullo Bridge: (don’t care if I spelled it right) A nightmare to look at even think of, not to mention there’s not a single person who doesn’t think about death every time they cross it. Currently enjoying its senior years, this bridge enjoys long weekend closures and reduced lanes during the work week. If work wasn’t bad enough.

The Port Mann Toll: What an insult for the region to simply decide that those living in Surrey should work in Surrey. What about the swaths of people that moved to there years ago for more affordable housing? I feel their pain. All those tolls used to pay for things like groceries and soccer practice. Now it belongs to the TREO Executives in the form of “Performance pay”.

Christy: Our Premier just gave herself a pay increase, while they struggle with the school budget (short $25M, so looks like Billy won’t be learning a musical instrument). Oh Christy, your timing is impeccable. But then again, your face tells me you don’t give a hoot.

The Portables: Not talking about washrooms. Not only can they not build schools fast enough to meet the demand, but they WON’T. At least not until there are a minimum 3 portable buildings at a school for several years as proof another school is needed.

The Traffic: The other day, I had to commute to beautiful Downtown Vancouver. I hit 3 separate traffic nightmares. One was a collision near Brunette, so getting on the #1 was out of the question. The second was a police swat team swarming a building on Hastings near Cassiar. Then there was a construction bottleneck west of Main and Hastings. I was in my car for so long that I had to stop midway to use the restroom, I poop scoop you not. My commute was 1hr 50min. It’s bad here. It will get worse. And then it will get even worse still. If you think bridges will fix this mess, think again.

Harley and the Rockets: There’s a band name for ya. When we do get nice weather, Vancouver is like a buzzing hive full of noise that almost seems amplified in this causeway we call home. Chopped mufflers and boom boxes! There’s no shortage of it. Welcome to paradise, g’night and sleep tight!

Your Pathetic Grass: If you are stupid enough to buy a house here in 604, have fun with your lawn. As I type, my neighbours are frantically watering, seeding, fertilizing, nematoding, trying desperately to get ahead of the coming heat wave, the Crows, the Chafer bettles, and the water restrictions. I tried it in my last house… it’s a huge waste of time. Here’s a tip: Put in a rock garden instead. Vancouver is green enough. Besides, everyone loathes you with your perfect lawn. Don’t we?

The other Grass: I personally don’t like the stuff. It stinks. No one wants to smell this crap. I don’t care if you are fighting off a case of Psoriasis. So even if you don’t touch the stuff, I guarantee you will be breathing it in, almost daily… depending on who your neighbours are. And once it’s legal… expect more in the weed capital of Canada.

The Poop Scoop: Or lack there of. Yes, expect to step in lots of dog poop. Seriously, dog owners here feel really entitled. Or the new thing is to half way do the job. They stick it in a brightly coloured plastic bag, and fling it into a bush where it hangs like a Christmas ornament… for years. Thanks, you bunch a bleep holes. by the way I love dogs, Garth!

So here’s my message to those planning to move: Don’t move to Vancouver. Instead, love the Town your with.

Best of luck to you all… you’re going to need it.

#51 Shawn on 05.06.16 at 9:04 pm

Actually, Canada’s GDP is already negative

#5 ROCK BEATS PAPER on 05.06.16 at 6:39 pm said:

The horrible irony is that Fort Mac might take Canada’s GDP down enough to cause the Central Bank to foolishly cut,

******************************************
Canada’s growth in GDP was negative in 2015 when measured in actual current dollars.

Almost always, nominal GDP is higher than real GDP by some measure of inflation. Not CPI but producer price inflation or the GDP deflator.

GDP is always stated in real dollars to back out inflation.

Prices of produced products actually fell quite aa bit in 2015 due to the huge drop in oil and natural gas and other commodities.

The upshot is that Canada’s nominal GDP growth in actual current dollars was negative in 2015 although real GDP (volume) was up a bit.

Statistics Canada only reports current dollar GDP on about a 33 month lagged basis. But I am told that preliminary figures indicate it was negative in 2015.

What is more relevant for Alberta? That real GDP was about zero or that GDP growth in actual current dollars was down say 5% plus?

That oil production was up or that the value of the production was down a ton? You can’t pay workers in barrels of oil (real) only in current dollars.

Poloz probably knows that current dollar GDP was down in2015.

The economy may be “poorer than you think”.

#52 God Emperor of Mankind Trump on 05.06.16 at 9:05 pm

The traitorous Pope just apologized to our God Emperor.

Not even the Papist Cabal with the alleged backing of God can stump the Trump.

Canadians will need to wear SPF120 Sun screens to shield them from the blinding greatness generated south of the 30-foot, turreted wall.

#53 Smoking Man on 05.06.16 at 9:13 pm

Every human has a star ship in em.

Sadly they don’t know where the keys are. They can only hope at some point in their short lives they find the keys and take it for a spin.

It’s amazing up here.

#54 Tony on 05.06.16 at 9:15 pm

Re: #21 TS on 05.06.16 at 7:26 pm

The average household income in Vancouver is just shy of 80 thousand a year. A household usually has two workers.

#55 pathcontrolmonk on 05.06.16 at 9:17 pm

Ironically, it is the owners of the unburnt houses in Fort Mac that I pity. S

#56 ILoveCharts on 05.06.16 at 9:24 pm

You know I love the blog Garth but you are wrong on elements of North Van.

It was waaay too cheap a few years ago. Now it is a bit pricey.

World class mountain biking, access to the ocean, three ski hills – all within a few minutes.

As for this:
“A 30-minute commute could drop their shelter costs by half.”

I’m not sure what map you are using… but that’s just not true in any way shape or form.

#57 ww1 on 05.06.16 at 9:34 pm

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

“This is similar to trolling but lazier and not as creative. It’s kind of like Trolling for Idiots.”

#58 For those about to flop... on 05.06.16 at 9:34 pm

#50 Give us this Blog our daily Garth on 05.06.16 at 9:00 pm

The Traffic: The other day, I had to commute to beautiful Downtown Vancouver. I hit 3 separate traffic nightmares. One was a collision near Brunette, so getting on the #1 was out of the question. The second was a police swat team swarming a building on Hastings near Cassiar. Then there was a construction bottleneck west of Main and Hastings. I was in my car for so long that I had to stop midway to use the restroom, I poop scoop you not. My commute was 1hr 50min. It’s bad here. It will get worse. And then it will get even worse still. If you think bridges will fix this mess, think again.

///////////////////////////////////////

A year or two ago, I saw council workers chopping down trees on King Ed.

I thought to myself,yeah great it’s about time they put two lanes in from Granville to Dunbar on King Edward ,that will alleviate some of the traffic problems.

Nope ,just another bike lane…it helps keep the city green.

Instead of moving freely and getting off the road quicker which ultimately lowers pollution….now I have to idle for 5 to 10 minutes more each night ,while being passed by three cyclists.

The Blvd is wide enough for 4 lanes and two bike paths but that would take foresight.

Maybe they are saving the space for laneway style housing,sounds crazy but you never know with this lot.

READ THIS….Two years ago I was working on a house in the Dunbar area.The house was on the cnr and when I went to get something out of my van there were two city workers measuring across the street to the next house.
I work in construction and I had never seen this so I asked them why they were doing this.

The reply was that a study had been commissioned to see if on some streets they could add an extra house to each block as there is a lot of wasted space with the generous nature strips.

Good to see they are looking out for the people of this city with no financial gain to be made…

M41BC

#59 Smoking Man on 05.06.16 at 9:36 pm

It’s Friday night. The blog dogs spinning their bets in the comments section. The seriousness of it all.

Now I know why garth calls it pathetic.

You bastards don’t know how to live… it’s sad.

Tell my about your phyco wife or mother inlaw. Your drug addicted kid. Your itchy hemoriod. Your obsession with being rich so you can finally be judged in a favorable way amongst your rivals AK friends.

Fk

No one gets it

#60 Freedom First on 05.06.16 at 9:38 pm

#53 Smoking Man

It’s amazing up here.
……………………………………………

Yes. It is.

Anyone who isn’t living in the zone, is cheating themselves. You only get 1 life.

#61 For those about to flop... on 05.06.16 at 9:42 pm

#56 ILoveCharts on 05.06.16 at 9:24 pm
You know I love the blog Garth but you are wrong on elements of North Van.

It was waaay too cheap a few years ago. Now it is a bit pricey.

World class mountain biking, access to the ocean, three ski hills – all within a few minutes.

As for this:
“A 30-minute commute could drop their shelter costs by half.”

I’m not sure what map you are using… but that’s just not true in any way shape or form.

/////////////////////////////////////

Using a hovercraft to commute from Bowen Island is all the rage these days…

M41BC

#62 Donate to fort Mcmurray on 05.06.16 at 9:50 pm

If you have a Td bank account and use td bank website to check your account online, there is a link to donate directly from your account.

#63 WalMark of Sadkatoon on 05.06.16 at 10:08 pm

#10 Smoking Man on 05.06.16 at 6:53 pm
Oh, on Fire Fighters.

Bravest, goodest bastards in the world. Closest thing humans

+100

#64 fleabitten monkey on 05.06.16 at 10:31 pm

My question is, with a place like Langley where the benchmark price has moved up 30 pct in 1 year, how long would it take for that to decline by the same 30 pct, if ever. We all know prices are super sticky on the way down. And downward movements are almost fictional at this point in 604 anywhere. Sure things could move 5-10 pct based on a market shock, but how on Earth once the public sets the price so far up in such a short period of time do you get back down $180K plus or so on a property of now $780K. I can’t see it happening. Anybody got stats on how long it takes for prices to erode away after a 1 year gain of 30pct? There is history on this.

#65 gladiator on 05.06.16 at 10:36 pm

Garth says “Chinese guys not even present”

Garth, people with average family income buying 1+ million dollar homes shows that something is not right. Either the banks are betting on CMHC covering their losses from bankrupted house buyers, or that huge down pay,ents are coming from somewhere. Moreover, it would be foolish to admit that people can live in a place for which they pay mortgage payments equal to or higher than their take-home pay.
There is something amiss here. Things do not make sense. I refuse to believe that people with average incomes are approved to buy million-dollar abodes. This is borderline criminal, especially towards the tax payers who will ultimately have to cover any losses from a real estate meltdown. Why leave this unresearched? Why not dig into it a bit more to see who should be doing something now to stop this craziness, or who should be held accountable when the shit hits the fan?
I am a renter in Torronto, with a family income over 150k per year and I am so priced out of the RE market that I think I will never be able to have a place of my own. My wife and I budget like crazy, we also save a lot, but we would not be able to even eat if we bought even a townhouse around here, not to mention other expenses like buying toothpaste, for goodness sake.
What is going on???

#66 For those about to flop... on 05.06.16 at 10:37 pm

After 911 it was a surprise to a lot of people that Obama was elected.
He himself ,had joked about this topic at the Casa Blanca Correspondents dinner.

London had just elected its first Muslim Mayor in a time of backlash against the refugee crisis.

Critical thinking skills, you’ve either got them or you don’t…

M41BC

#67 gladiator on 05.06.16 at 10:43 pm

Ok, enough beating the bushes, it’s time to admit that foreign money is one of the main factors for this craziness – more so in Vancouver and less in Toronto.
As long as our central, regional and local governments enjoy inflated tax revenues from it, nothing will be done to stem this inflow of money.
We are left alone to face these headwinds and we better buy now or be priced-out forever.
And I’m not a real estate agent. I wish I was one though… History doesn’t mean offer so many opportunities to rake in such easy money…

Uninformed, emotional comment. Locals have created this situation and are sustaining it. You could ban non-resident investors overnight and prices would hold. This is a social mania and best to stand back and let it correct itself. When people start saying ‘buy now or buy never’ things always end the same way. — Garth

#68 For those about to flop... on 05.06.16 at 10:45 pm

Previous comment….I typed ” London has”

iPad said who cares?

Glad you guys enjoyed losing 46B in one day…

M41BC

#69 Franz on 05.06.16 at 10:50 pm

#10 Smoking Man on 05.06.16 at 6:53 pm

Oh, on Fire Fighters.

Bravest, goodest bastards in the world. Closest thing humans will get to a god.
===============

Socialist system at its finest.

#70 Smoking Man on 05.06.16 at 11:04 pm

#69 Franz on 05.06.16 at 10:50 pm
#10 Smoking Man on 05.06.16 at 6:53 pm

Oh, on Fire Fighters.

Bravest, goodest bastards in the world. Closest thing humans will get to a god.
===============

Socialist system at its finest.
…..

Hate commies with every fiber of my being. But until your rescued as I was 30 years ago. You won’t appreciate god giving you a second chance.

His name was William. I’ll never chirp fire fighters, cops are a different story.

#71 lawboy on 05.06.16 at 11:11 pm

Or, for the same effect, they could just fist pump the sellers saying “We’re white like you, yeah!!!!!”

#72 For those about to flop... on 05.06.16 at 11:12 pm

#67 gladiator on 05.06.16 at 10:43 pm
Ok, enough beating the bushes, it’s time to admit that foreign money is one of the main factors for this craziness – more so in Vancouver and less in Toronto.
As long as our central, regional and local governments enjoy inflated tax revenues from it, nothing will be done to stem this inflow of money.
We are left alone to face these headwinds and we better buy now or be priced-out forever.
And I’m not a real estate agent. I wish I was one though… History doesn’t mean offer so many opportunities to rake in such easy money…

Uninformed, emotional comment. Locals have created this situation and are sustaining it. You could ban non-resident investors overnight and prices would hold. This is a social mania and best to stand back and let it correct itself. When people start saying ‘buy now or buy never’ things always end the same way. — Garth

///////////////////////////////

O.k I’ll go for one more before Turnernation tells me to sit on it.

I am working on a 5/6 million house near UBC .
Started over a year ago, nothing happened at the house for 6 months because the owners had trouble with funds.

They are Chinese,not an issue you would think that would arise with the myth of Chinese Cowboys with suitcases of money.Downtown there have been some huge commercial buys but residential they still haggle and look for bargains.

To Garth’s point of standing back and keeping out of harms way, as most residents know Vancouver is all about image and as such when all this blows up there are going to be people looking for the surgeon that gave that lady a new face after the monkey ripped it off ,as they wont be able to stomach looking at themselves in the mirror with their egos that they were made to look like fools.

The irony….Michael Jackson chimp was called ” Bubbles”…

#73 bill on 05.06.16 at 11:13 pm

#58 For those about to flop… on 05.06.16 at 9:34 pm
”The Blvd is wide enough for 4 lanes and two bike paths but that would take foresight.”
if they had just left it alone…
how many cyclists have you seen using it?
It is a rare day when you see one. virtually unused and no lack of little white ‘safety’ wands to make sure traffic doesnt flow well at all.

#74 John Law's SS Tulip Shop on 05.06.16 at 11:20 pm

Long time reader, first time poster. 6’1, 205 mid forties married 604 renter w/ a house lusty wife with a PhD. That’s short for Pappa Has Dough. My FIL wants her to own a home before he dies and is practically shoving pre-inheritance funds down our throats. I know I know — cry me a river. I’m more fortunate than a guy in a woman’s prison with a pocket full of pardons. Even still — I have seen enough bubbles to resist the “free” money and keep my lovely wife at bay. I’ve also resisted writing comments on this blog but the last few weeks the rhetoric regarding house porn has reached a fever pitch. My oldest friend dumped the remnants of his paltry inheritance into a Maple Ridge spec house and brags that he is “already up 100k”. Yeah right. This is the same genius that quit his job to day trade in March 2000, wanted to open a cigar lounge and a pool hall, went bankrupt in ’08 and bought gold coins on a relative’s credit card at $1,900 an oz. Ring the bell. The last sucker is in. All he has “insured” is that he’ll be driving a truck until he’s 72. It used to be I couldn’t go to a dinner party without the requisite “did you hear — the place down the street just listed for $2.4. Our kitchen is new so ours must be worth $3M. Isn’t that crazy?”. No lady, the only thing that’s crazy is that you haven’t hit the bid and secured your family’s financial future for the rest of your lives. I also love the common refrain “oh well — I’ve gotta live somewhere and prices are only going higher”. That’s akin to the guy who wins the 649 and puts the proceeds into scratch and win tickets. Don’t look a gift horse in the mouth people. Sell your 70 yr old knock down, quit your crummy job, go down to the branch and buy BMO Balanced ETF fund and rent yourself a nice $4k a month penthouse. Better yet, DSC yourself into the T-Swip version so you won’t be tempted to buy your house back when it dips 10% and every charlatan news anchor declares it the best buying opportunity in years — like all those experts that bought Nortel at $88 saying “if you don’t buy it now you don’t understand the new paradigm”. Twenty years from now we ‘ll look back at this and realize what fools we were for paying $1,100 a sq foot for a glass box overlooking toxic false creek. Just like the guy who paid $100k for a tulip bulb.

#75 jay borg on 05.06.16 at 11:23 pm

I drive past the campers every morning, I’m working on the past sold out phase which will be complete this year.

#76 RayofLight on 05.06.16 at 11:45 pm

The fires around Fort McMurray may create an inflection point in Canada’s standing as an oil producer.
If oil producing/transportation infrastructures are severely damaged, and with the global current oil prices barely at or below the cost of production, could oil companies elect not to rebuild because the economics don’t justify it? This disaster may have the potential to permanently reduce CDN oil exports and increase trade deficits. The $CDN/$US would sink further.

#77 steerage steward on 05.06.16 at 11:50 pm

Inside the Fort McMurray Scorch Zone, Signs of Hasty Retreat and Nature’s Cruelty.

Some sobering photos. A reminder that granite counter tops and stainless steel appliances aren’t that important.

http://www.nytimes.com/2016/05/07/world/americas/inside-the-fort-mcmurray-fire-zone-a-haunting-journey.html

#78 Fed-up on 05.07.16 at 12:01 am

The “bank of mom” would have to gift hundreds of thousands of dollars in Vancouver and in the GTA in order to help their millennial offspring purchase a detached home that would cost an insane $6000-$7000 per month to carry (mortgage, taxes, insurance and bills included), wiping most couples out of every dime they take home and then some. The average household income in either city would never qualify for said mortgage.

At the same time we state that the vast majority of Canadians in all age groups don’t have anywhere near enough money for retirement, have barely any savings and are living paycheck to paycheck.

Sorry, it’s not adding up.

#79 Ronaldo on 05.07.16 at 12:02 am

#42 ALBERTASTROPHE on 05.06.16 at 8:33 pm

” Losing your overvalued, heavily mortgaged home to a fire means freedom and liquidity once that insurance cheque comes in. Especially important for the thousands who have recently lost work.”

Keep in mind that the mortgage also covers the piece of ground that the house sat on which is worth much more than the house so I expect that the bank will have first dibs at the insurance cheque for the burned out house. They will still have to pay the bank for the value of the mortgage for the portion that is the lot value. I doubt that they will have much luck selling the vacant lot. Those with paid off mortgages will be able to get the cheque for their house value but most of their equity will be in the vacant lot. No real cause for celebration here.

#80 Freeman on 05.07.16 at 12:06 am

America is going into Recession.
Today’s jobs report is just the first news of many we will be getting over the next few weeks that show this fact.

If you don’t believe it, then listen to this guy’s PROOF that we are now at the start of the next recession:
(The Shocking Rail Data That Screams Recession Is HERE)
https://www.youtube.com/watch?v=emJ092PQwFg

He gets this data straight from the St. Louis FED web site.
The first graph is found here: https://research.stlouisfed.org/fred2/graph/?id=INDPRO

the second graph is found here: https://research.stlouisfed.org/fred2/graph/?id=MNFCTRSMSA

and the third graph is found here: https://research.stlouisfed.org/fred2/graph/?id=RAILFRTCARLOADSD11

#81 Family Firefighters on 05.07.16 at 12:10 am

My uncle was a firefighter, rose to rank of Captain and then had to step down due to stress and become a trainer. My cousin is now serving. Say what you will about them my uncle was a hero and my cousin will probably be asked to be if he hasn’t already.

My uncle made the newspaper here years ago for running on to the train bridge (well, the abutment technically) to save a young boy who was crossing illegally with his older brothers. (My uncle had been fishing below). The train driver said my uncle was still running towards the train when he lost sight of him. Saved the boy but many bruises for both that section is pretty steep and rocky. It’s a true story, and he was off duty. The way my uncle described it, fire fighting is hours and days and sometimes months of nothing happening at all, maybe a couple traffic accidents, and then being waked at 2 am for a 3 alarm and fighting for your life and the lives of others.

#82 Eye in the sky on 05.07.16 at 12:12 am

Looks like we now have a raging fire in BC, complete with evacuations. What is starting these fires? There has been no lightning.

#83 mousey on 05.07.16 at 12:47 am

Several people interviewed fleeing Ft. Mac described the scene as the apocalyptic. And you know what, it sure as hell looks like it. So many stories of people opening their homes, providing meals and such. Canada is geographically big, but when the chips are down, we respond like we are all next door neighbours and I am very proud of that.

#84 betamax on 05.07.16 at 12:52 am

Buyers in California posted pictures and wrote simpering letters too, until the correction. Now, not so much.

Langley is a hellish commute across a toll bridge. But if you think that’s bad, someone is building suburbs east of Chilliwack (twice as far from Van as Langley). Who the hell is going to live out there in a ticky-tacky box in a tight little suburb? Greater fools, natch.

#85 Mr. White on 05.07.16 at 1:02 am

Garth, what I don’t get is that it is clear that there is little economic sense for most people to be even thinking about buying home anywhere in Vancouver or GTA. So what makes them think that they must live in those places? They could take deep cuts in their pay and maintain their same lifestyle in dozens of other places in Canada.

Just seems crazy to me.

#86 betamax on 05.07.16 at 1:03 am

#58 For those about to flop…

I worked at City Hall, where I learned that city planners are actively trying to make commuting by car more difficult, not easier. They want people to take transit or bike and are designing the roadways accordingly. They believe that if they make it easier and faster to drive, then more people will drive. Van gridlock is deliberate.

#87 AisA on 05.07.16 at 1:09 am

oh hell, it’s been too long.

Crash, crash, crash, crash, it only ends with a crater.

Amen.

#88 Ben gotthehelloutof dodge on 05.07.16 at 1:10 am

Good Lord…..moving to the Fraser Valley is the same as committing suicide. I did it once…to Cloverdale…..sold out once finding out what a bunch of loser nut jobs and screwed up hillbillies my neighbors were….and won’t drive past the area now that I know better. The school system has it in for your kids…..the Surrey school district only graduates 1.7% of kids with university entrance marks….the vocation push of choice in the area school I was in was ‘cooking’. The teachers used to call me and give me crap when I corrected my kids homework. It’s a life of loserdom and flushing your kid down a drug addled toilet. The school and community centers are places where fight clubs and ethnic drug lords rule the day. Stay out of that crap hole.

#89 Sheane Wallace on 05.07.16 at 1:11 am

We can not stop wild fire from consuming major oilsand town? And this is a G7 country?

Hello? Where is the military?

Sleeping fire-fighter a hero?

The mental institution in ‘one flow over cuckoo’s nest’ is more sane than this place.

And in the light of 40 % price increase in 36 months we are still talking about 10 % decrease from the top?

————————-

#21 TS on 05.06.16 at 7:26 pm
The average salary in Vancouver is 80,000 and the average sale price of a detached home is 1.3 million dollars.

What big 5 bank is lending families with $150,000 income that much money? None

———————
Absolutely they will as they are not on the hook. We/CMHC are.

Remote suburbs in Toronto now are more than twice more expensive measured in absolute ‘value’ than East New York for example. NY, This is where all the money in the world is.

Will Vaughan become more expensive then Hampton’s?
If you look at the price of land per acre it most certainly is already.

We are overpricing 4-5 times homes in cities with workers, not billionaires.

I thought that stupidity has limits but now I am not convinced that this is the case here.

Not that anybody in their right mind (specially gazilioners) would care about RE in Canada.

#90 steerage steward on 05.07.16 at 2:18 am

If you’re not going to bid 40% over asking there is always another way to secure that house..

https://www.youtube.com/watch?v=65oS6BYEfr0

#91 Same Old YVR Story on 05.07.16 at 3:04 am

It will be job losses and/or higher rates that curb YVR RE enthusiasm. The Canadian economy overall is in neutral or worsening; thus, no rate increases. BC still creating jobs at a much faster pace vs. the rest of Canada; therefore, no job losses there.

Eventually all boom periods come to an end and you will have many underwater mortgage holders in YVR. When that will happen is anyones guess but for BC slow growth in China/Asia may well be that trigger to end it all.

#92 Freedom First on 05.07.16 at 3:27 am

#71 Lawboy

Consider yourself “DELETED”

#93 Codista Professionale on 05.07.16 at 6:39 am

Garth,

You seem to be amused at the thought of students ‘queuing’ for others, but in others G7 countries this activity has become fairly mainstream. Some have even manged to turn ’queuing’ into a lucrative business idea. It is simply societal epiphenomenon that speaks volumes about the perceived opportunity cost of most recent cohort of students.

‘People, it’s all I’m saying’ as Smokey would put it. Sad.

http://www.theguardian.com/world/2014/jan/29/italy-patient-man-graduate-queuer-milan-giovanni-cafaro

http://www.economist.com/news/europe/21695055-italian-red-tape-means-jobs-those-who-stand-line-worth-their-wait-gold

#94 When will they raise rates? on 05.07.16 at 6:56 am

#90 steerage steward on 05.07.16 at 2:18 am

If you’re not going to bid 40% over asking there is always another way to secure that house..

https://www.youtube.com/watch?v=65oS6BYEfr0
—————————————————–

LOL

#95 When will they raise rates? on 05.07.16 at 7:57 am

#18 When will they raise rates? on 05.06.16 at 7:16 pm

The insanity on display in 604, 905 and 416 is astonishing.

The aftermath of this “correction” will be epic. As they say, the bigger the bubble, the bigger the pop… Lot’s of fools are gonna get absolutely crushed this time around. Sadly, I will feel zero sympathy for any of them.

On a side note, my brother in law and her fiancee are being pressured by her parents to buy in Richmond Hill. They have about $35,000 saved up, her parents will chip in the rest for the down payment… Incidentally, the fiancee’s father owns 31 residential properties in and around the GTA. Yes, 31 (with varying degrees of leverage). He thinks RE is the only way to get ahead. She is listening to him, and refuses to rent based on the father’s brainwashing. Brother in law is screwed (and so will the father in law be when the market corrects).
———————————————–

…And although only anecdotal, it’s worth noting that the aforementioned monopoly man with 31 speculative properties is Italian, not Chinese… For what it’s worth.

#96 gladiator on 05.07.16 at 8:35 am

Garth says “uninformed emotional comment…”

I agree to disagree. Read Josh Gordon’s paper on Vancouver housing and what’s driving it. It’s a long 60-page read, but well worth it and makes a lot of sense.
Randall posted the link here a couple of days ago, so credit goes to him.

http://www.sfu.ca/content/dam/sfu/mpp/pdfs/Vancouver%27s%20Housing%20Affordability%20Crisis%20Report%202016%20Final%20Version.pdf

#97 WalMark of Sadkatoon on 05.07.16 at 9:24 am

Read Josh Gordon’s paper on Vancouver housing and what’s driving it. It’s a long 60-page read, but well worth it and makes a lot of sense.

Josh regurgitates media releases over the last year. no new evidence of foreign capital is presented. more anecdotes, opinions and “foreign-sounding-last-names”

waste of time

#98 Ronaldo on 05.07.16 at 9:25 am

#84 betamax on 05.07.16 at 12:52 am

”Langley is a hellish commute across a toll bridge. But if you think that’s bad, someone is building suburbs east of Chilliwack (twice as far from Van as Langley). Who the hell is going to live out there in a ticky-tacky box in a tight little suburb? Greater fools, natch.”

Back in the mid 70’s when I worked in downtown Vancouver and lived in Poco, it was a 1 hr commute to get downtown but only because I left for work early. Return home after work was 1.5 hrs. Hated every minute of it. Main reason I got out of there and never looked back. Better things to do in life than to spend 2.5 to 3 hours per day in traffic breathing carbon monoxide and putting up with whacky drivers. Best thing I ever did. Can’t imagine commuting from Langley every day.

#99 Pancho Metro on 05.07.16 at 9:32 am

#1 TurnerNation on 05.06.16 at 6:27 pm

TO’s transit system trails even second world countries’.

http://www.cbc.ca/news/canada/toronto/trudeau-transportation-1.3569602

2nd world? Try more like 4th world…even Mexico City subway is 20-30 times bigger and only costs flat rate of 5 pesos to go anyway in the city which is 10 time bigger than T-dot.

https://en.wikipedia.org/wiki/Mexico_City_Metro

#100 Alberta Ed on 05.07.16 at 9:35 am

Lower Mainland prices will dramatically reset next time the Juan de Fuca Fault lets loose. The 9.2 magnitude Great Alaska Quake in 1964 nearly wiped out Port Alberni when the ensuing tsunami rushed up the channel. Today’s tragedy in Fort McMurray will seem like a hiccup when the Big One occurs off the west coast.

#101 Freedom First on 05.07.16 at 10:08 am

While up in my spaceship with Smoking Man, I can see all these angels. It’s so pretty up here where he and I live… in our spaceships. I love cows. I love myself. I’m the best.

#102 Ronaldo on 05.07.16 at 10:21 am

Just to show where real estate prices in North Van have gone in the past 45 years. Here is the exact unit that I purchased (my first home at age 23) in Dec. of 69 which I paid $20,800 for. Over 1850 s.f.

This one sold in 2014 for around $500,000. When the crash of 08 occured this unit was for sale for around $450,000. Price remained flat and now these are going up for sale for $600,000. 28.5 times what the cost was in Dec. 69.

My salary at the time was $666 per month or $8000/yr. so the unit was 2.6 times my annual salary. The equivalent salary today would have to be $230,000/yr to equal what it was back then. My cost to own was .33 of my gross back then at 9.5% interest rates.

Today at 3% interest and assuming a similar down payment as when I purchased and $500,000 mortgage, the cost to carry assuming an equivalent wage of around $60,000 for the job I held back then for my age, the cost to carry would be about the same.

If rates were the same as when I purchased you would expect that the price of the unit would be about 1/3 of its present value or $200,000. This is what low interest rates have done to housing costs. Thought this may be of interest to some on here.

http://bonniemclean.ca/mylistings.html/details-36949694

#103 Make RE great again! on 05.07.16 at 10:32 am

The main problem with the overpriced RE markets in big cities (Vancouver etc.) is that there is no mechanism to SHORT IT DIRECTLY on an exchange like other commodities. This is why they are incredibly “sticky”. The solution:

1. Create benchmark indexes for RE price for major cities
2. Create futures products that track those above and are FREELY traded on commodity exchanges

The price WILL normalize FAST! The BUST will come real soon!

If you are the owner of some crazy over-priced property you will be able to HEDGE YOUR RISK DIRECTLY

#104 Dups on 05.07.16 at 10:52 am

Forget Vancouver or GTA, London Ontario is one of hotest markets right now when compared to size of city. Record sales this year and no stop in end. Multiple offer situations on most homes for sale. It is nuts. People can not stop buying homes here and the inventories are low.

#105 Dups on 05.07.16 at 10:55 am

http://www.lfpress.com/2016/01/27/were-no-1-for-housing-deals-anyway

#106 Shame on PantywaistTrudeau on 05.07.16 at 11:16 am

Pansy PM nowhere to be seen on Ft Mac issue…..his ‘greens’ get his attention instead.

http://www.breitbart.com/london/2016/05/05/greenies-fiddle-while-fort-mcmurray-burns/

#107 WUL on 05.07.16 at 11:37 am

FLOP:

I have packed my 20 ounce Estwing, my speed squares, Kuny’s suspenders, DeWalt drill, level. white IBEW hardhat and chewing tobacco.

Any danger of finding work with you?

I will drive the 3 and 1/2 inch coated. On the dozens of carpentry projects I worked on with my father and we got something wrong, he would say:

“Close enough. We are building a whorehouse. Not a piano.”

Or:

“Close enough for the gals we run with.”

#108 crowdedelevatorfartz on 05.07.16 at 11:41 am

@#103 make RE great again

Greeeeeaaaaaaat.
So when the inevitable contraction in real estate happens …..we get to give the stock market an enema too……what could possibly be the downside of THAT?

#109 ROCK BEATS PAPER on 05.07.16 at 12:00 pm

Josh Gordon’s paper is very interesting. Garth have you read it?

Yup. Nothing new there. But many people will love that it confirms their prejudices. — Garth

#110 jess on 05.07.16 at 12:34 pm

Banking Bad
By Adele Ferguson and Deb Masters
Updated July 3, 2014 11:22:00 whistleblower’s concerns

Four Corners investigation on bank financial planners
http://www.abc.net.au/4corners/stories/2014/05/05/3995954.htm
http://www.smh.com.au/business/workplace-relations/adele-ferguson-on-the-cost-of-whistleblowing-and-need-for-a-bank-royal-commission-20160505-gomxc4.html
=========
Updated | 3:02 p.m. The anonymous source responsible for leaking the vast document trove known as the Panama Papers said in a manifesto published on Friday that she or he “would be willing to cooperate with law enforcement” to ensure the prosecution of wrongdoing revealed by the paper trail — but only once “governments codify legal protections for whistleblowers into law.”
https://theintercept.com/2016/05/06/panama-papers-source-wants-whistleblower-immunity-aid-law-enforcement/
http://panamapapers.sueddeutsche.de/articles/572c897a5632a39742ed34ef/

“In the end, thousands of prosecutions could stem from the Panama Papers, if only law enforcement could access and evaluate the actual documents. ICIJ and its partner publications have rightly stated that they will not provide them to law enforcement agencies. I, however, would be willing to cooperate with law enforcement to the extent that I am able.”

source wants immunity to aid law enforcement & calls for improved protections for all whistleblowers
============================================================
Hacking victims have few options as First Amendment protects media disclosures
By Valerie Richardson – The Washington Times – Wednesday, December 24, 2014
Let’s say your computer has been hacked and now websites are posting your private emails. What can you do stop them?
The answer: Not much, according to First Amendment authorities. While the hackers can be prosecuted, news outlets and websites have free speech and free press rights to release the illegally obtained material, as long as the news organizations didn’t steal the information themselves.
http://www.washingtontimes.com/news/2014/dec/24/hacking-first-amendment-open-private-email-to-publ/?page=all
2012
Journalists have a right to publish leaked emails if they are in the public interest, a High Court judge said yesterday.
http://www.telegraph.co.uk/news/uknews/leveson-inquiry/9691702/Journalists-have-right-to-publish-leaked-emails-High-Court-judge-s

#111 For those about to flop... on 05.07.16 at 12:53 pm

#107 WUL on 05.07.16 at 11:37 am
FLOP:

I have packed my 20 ounce Estwing, my speed squares, Kuny’s suspenders, DeWalt drill, level. white IBEW hardhat and chewing tobacco.

Any danger of finding work with you?

I will drive the 3 and 1/2 inch coated. On the dozens of carpentry projects I worked on with my father and we got something wrong, he would say:

“Close enough. We are building a whorehouse. Not a piano.”

Or:

“Close enough for the gals we run with.”

//////////////////////////////////////////

Hey WULLY,the one positive thing about fire season is it also coincides with the construction hire season.

There is always something going on here but it just goes up that extra gear.

If you do come you will find something ,but whether it will be better than what you could find in Calgary is questionable given the cost of living here.

I am a sub contractor/ self employed so I don’t hire anyone as I am brought in the fix other people’s problems.In other words if I’m at your house most of the time things did not go to plan.

I will give you these ballpark numbers for carpenters in Vancouver of which I am not one.

Hack…20/25$

Decent….25/35$

Above average…35/50$

Only you know your situation, but if you come things should work out….I just don’t want to influence your decisions.Maybe you bring your son too?

Regarding whorehouses, aren’t they held together with caulk…

M41BC

#112 crossbordershopper on 05.07.16 at 1:19 pm

there are say 10 million in the gta and vancouver, out of say 37 million. so what about the other 2/3 of the canadian population? They live in north bay ontario, nova scotia, saskatchewan etc, they have no real estate bubble, multiple offers etc. this emphasis on the hot side of the market does nothing for the people who will never experience a bidding war for a property, ever in their life. some people travel an hour to work some walk to work. big country, big differences in peoples lives.
so how many people living in these million dollar hourses are going fishing this summer? yes, i thought so.

#113 Metaxa on 05.07.16 at 1:23 pm

They could take deep cuts in their pay and maintain their same lifestyle in dozens of other places in Canada.

Ding! Ding. Ding.

Its most often not even that deep of a cut.

If carpenters are being paid $35/hr in the Lower Mainland then you sure aren’t going to be getting away with anything much below $25-30 out here or your labour force will just leave on you.

Miss the big city? Just take a plane or a helicopter or a chauffeured van. Consume your culture, have dinner at Number 5 Orange and then hotel room, return home to paradise the next day.

I can be in downtown Seattle almost as quick as some one driving into Vancouver from the Valley. Heck, I can drive to Portland, Oregon in a very easy day, still daylight when I get there.

#114 For those about to flop... on 05.07.16 at 2:22 pm

WULLY,my friend, I just went to Vancouver Craiglist which is the easiest to find a job in construction in Vancouver and for carpenters roughly 250 jobs to peruse and roughly the same for construction labourers.

I must admit I am out of the loop with my normal contacts as I have been helping out Chinese contractors/ speculators for the last 6 months.
They give me a headache with their English ,but the money knows no boundaries.

You might enjoy trying a new brand of Chinese cigarettes though…

M41BC

#115 cto on 05.07.16 at 2:53 pm

I’m the prudent saver type.
Why do I have this sneaky supision that when this whole thing blows up like a wild fire the government is going to save the masses of the reclass and extract out of the money iv saved to do it.
Who the fool?

#116 Damifino on 05.07.16 at 3:26 pm

#86 betamax

“I worked at City Hall, where I learned that city planners are actively trying to make commuting by car more difficult, not easier. They want people to take transit or bike and are designing the roadways accordingly.”
————————————

Precisely. Vancouver wishes to become Amsterdam. That’s working out very poorly.

#117 paul on 05.07.16 at 4:48 pm

#115 cto on 05.07.16 at 2:53 pm

I’m the prudent saver type.
Why do I have this sneaky supision that when this whole thing blows up like a wild fire the government is going to save the masses of the reclass and extract out of the money iv saved to do it.
Who the fool?
———————————————————-
Who’s the fool If you need to ask it’s the savers.
Big Government wants it all and they will get it one tax payer at a time.

#118 An inconvenient truth on 05.07.16 at 5:38 pm

Today our host Mr. Tuner thumbs his nose at physical jobs that pay $40 per hour, once again proving how disconnected he is from his neighbours. The average wage in Toronto is below $20 per hour, but how would Garth know that?

http://imgur.com/a/KDzFC

Actually I laud the firefighters, who should make more. I will pity those who can’t read, however. — Garth

#119 salonist on 05.07.16 at 6:01 pm

cheeky little begger

https://www.youtube.com/watch?v=TP8RB7UZHKI

#120 Sayed on 05.07.16 at 6:26 pm

Is it a good idea?
We Believe International Diversification Should Remain at the Core of
Investors’ Strategy. Given still significant inherent risks to the Canadian
economy and the Canadian dollar, we would favour international
diversification through Canada-listed REITs. Our favourite internationallyexposed
REITs (other than RUF and AAR) are INO.UN, DRG.UN and
NWH.UN. In our opinion, these three REITs’ valuations are largely
disconnected with their local peers while offering a unique exposure
through Canada-listed vehicles.

From: http://www.theglobeandmail.com/globe-investor/investment-ideas/research-reports/article28768533.ece/BINARY/RealEstate021616Outlook.pdf

#121 Newcomer on 05.07.16 at 6:36 pm

@Ronaldo

Let’s not forget that when you bought the house it was brand new, so it probably represented something in the middle of the market. It’s now a forty year old townhouse, which is pretty close to the bottom of the market.

#122 TechBoomer on 05.07.16 at 6:36 pm

Garth:

You say “…North Vancouver, that boring swath of houses hugging the far shore of Vancouver Harbour between the Iron Workers and Lions Gate bridges. Apart from one great Holiday Inn and one weird mall, it’s a forgettable place when you look at it from downtown, creeping up the mountain until gravity takes its toll.”

I say: “North Vancouver, that swath of off-lease parks and dog friendly creeks and trails from the Capilano River to Deep Cove. Home to almost more dogs than people.”

And you say you’ve been here often!

#123 EspressoP on 05.07.16 at 6:42 pm

Maybe there is hope after all. From M&M’s FB page:

It is with joy and a twinge of sadness that we announce that we will (most likely) be moving to Kelowna this summer. The insane overpriced market in Vancouver got us thinking about looking elsewhere, so we went to Kelowna to look for houses on Tuesday. By Thursday we made an offer on a house in West Kelowna and it was accepted on Friday.

#124 Nemesis on 05.07.16 at 7:03 pm

…”…many people will love that it confirms their prejudices. — HonBlinkeredGarth

#SeeingIsBelieving,Or… #Let’sHopOverTheGreatFirewall…

http://www.juwai.com/globalsearch/vancouver

#BonusAttraction… #ForStudentsOf… #HegemonicStabilityTheory…

https://youtu.be/qmx77zJhxCk

#125 Ace Goodheart on 05.07.16 at 7:14 pm

And yet you can STILL buy a single family house in Toronto, with parking, lots of bedrooms, and walking distance to a brand new transit hub including direct airport service, direct service to Union Station, direct access to a brand new, underground LRT which is dubbed the “largest transit project in Canada”, for under $500,000.

Yes, you can:

https://www.realtor.ca/Residential/Single-Family/16903237/4-DENNIS-AVE-Toronto-Ontario-M6N2T6-Mount-Dennis

Why does no one want to live here? I have no idea. Maybe because we don’t have a Starbucks? (but we have a “supercoffee, which is locally owned and arguably better).

So yeah go buy your million dollar decrepit semi in Leslieville (which has no direct access to any transit other than streetcars and busses). This makes sense (no, actually it doesn’t I am being sarcastic).

Why do people only buy in “prime neighbourhoods”?

The leader of a popular group in high school, was not popular when he/she started the group. Stop being lemmings, people. And stay away from “prime” neighbourhoods.

#126 Godth on 05.07.16 at 8:10 pm

#9 Smoking Man on 05.06.16 at 6:50 pm
https://www.youtube.com/watch?v=8vB6SJh_VcY

#127 For those about to flop... on 05.07.16 at 8:53 pm

Time for my Count of Caledon free for all Saturday night post.

I should have bought shares in stihl chainsaws this week as sales will probably pop,after the wildfires provided a timely reminder not to have to much fuel near your house.

I don’t see how this is not going to be six to eight month a year concern with these weather patterns for the foreseeable future.

Growing up in Australia this was an annual concern but in the first decade I was in Canada the main concern in a lot of cities was snow removal.

It is going to be a long summer in a lot of communities.

B.C has its early ones too but a massive one is inevitable later on in the summer.

Hopefully a few towns that have been delaying fire prevention now spend the dollars to attempt to protect their communities so some good can come out of all of this.

Good luck guys,your gonna need it…

M41BC

#128 Ronaldo on 05.07.16 at 9:09 pm

#121 Newcomer on 05.07.16 at 6:36 pm

” @Ronaldo

Let’s not forget that when you bought the house it was brand new, so it probably represented something in the middle of the market. It’s now a forty year old townhouse, which is pretty close to the bottom of the market.”
—————————————————————
As an example, at that time a newer home in West Van’s British Properties sold for around $50,000 and we thought that was out of this world and totally not affordable to us at 6.25 my annual salary. A relatively new rancher in the lower Lonsdale area sold for around $30,000. I distinctly recall that a new home in Richmond which a friend bought at around the same time for $30,000 we wondered how on earth he was going to be able to handle the mortgage. He made $1000/ mo. so that was 2.5 times his income. Totally affordable. An older house in the Mt. Pleasant area sold for around $25000. Same house today assessed at 1.2 mil in original condition and value is solely in the land value. In 1986 a 3 bedroom townhouse near Cap College sold for $72,000 which is about the same price as what my old townhouse would have sold for then. So in 45 years my wage would have increased about 8 times and the townhouse 28 times. Something doesn’t add up. Just shows how little value you get for your dollar today compared to back then.

#129 Trading Naked on 05.07.16 at 9:50 pm

UPDATE: they’ve given up and they’re moving to Kelowna. Renting in North Vancouver is almost impossible for them anyway. The vacancy rate is low, and many places won’t accept pets, nor will they have enough space (according to the Western concept of personal space) for all 3 kids.

#130 Smoking Man on 05.07.16 at 9:51 pm

#126 Godth on 05.07.16 at 8:10 pm
#9 Smoking Man on 05.06.16 at 6:50 pm
https://www.youtube.com/watch?v=8vB6SJh_VcY

……
Thanks for that. Never heard it before. Pure magic.

#131 No Mercy on 05.07.16 at 11:55 pm

Vancouver is just crazy.

A house bought in 2014, by my late mother, sold for 30% more today.

I have no words.

Cash, no conditions, more than asking. Sold.

I’d never buy that place for this much.

Seems like HAM-in-action which I never beleived it but now I am sure. HAM exists.

Property #2 going up for sale next week. We shall see what happens.

#132 Give us this Blog our daily Garth on 05.08.16 at 12:20 am

#57 ww1 on 05.06.16 at 9:34 pm

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

“This is similar to trolling but lazier and not as creative. It’s kind of like Trolling for Idiots.”
——————————————-
LOL! Yup! I’d say no creativity required.

#133 Chaddywack on 05.08.16 at 1:00 am

Even the wealthy are sending in personal letters, notes, etc. with their offers. Look at this tech millionaire from Ottawa who, although his bid was not the highest, saved the house from the “evil offshore” (likely Mainland Chinese) bidder for the good of all of Vancouver. What a philanthropist! I shudder to think that my wife and I are going to have to beg and plead with a seller when it comes our time to buy in Vancouver in a few years……

http://www.theglobeandmail.com/real-estate/the-market/tech-millionaire-steps-in-to-save-vancouvers-historic-friedmanhouse/article29889813/

#134 BillyBob on 05.08.16 at 3:30 am

#127 For those about to flop… on 05.07.16 at 8:53 pm

I don’t see how this is not going to be six to eight month a year concern with these weather patterns for the foreseeable future.

Growing up in Australia this was an annual concern but in the first decade I was in Canada the main concern in a lot of cities was snow removal.

It is going to be a long summer in a lot of communities.

B.C has its early ones too but a massive one is inevitable later on in the summer.

Hopefully a few towns that have been delaying fire prevention now spend the dollars to attempt to protect their communities so some good can come out of all of this.

Good luck guys,your gonna need it…

M41BC

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

Interesting timing of your post, I have just been mulling over leaving my present job operating commercial jets overseas and returning to my first flying love: aerial fire attack. Working in Canada can’t compare with the tax-free cash of an expat gig, but with the financial motivation long since eased I’m itching to come home and “go back to the beginning”. And unfortunately I believe you’re entirely correct that fire suppression will only be a growth industry going forward.

#135 steerage steward on 05.08.16 at 4:37 am

History is a great leveler, and Time wields a well-honed smoothing-plane. Everyone gets whittled down to his proper size eventually

#136 Cloudy on 05.08.16 at 4:58 am

#41 For those about to flop… on 05.06.16 at 8:24 pm
I have a friend who is a fire fighter six months a year based out of Chilliwack.

I caught up with him recently and he said he was fighting some of the big ones up in the interior last summer for $26.50 an hour.

Overtime after 7 hours but only allowed to work 12hrs maximum.

He stated he used to make more money in Construction but fire fighting is his passion.

No fear, and a little bit crazy…

M41BC
————————————–

I used to be on this crew. Was originally based out of Surrey, then moved to Abbotsford Tanker Base, then to Chilliwack. Great crew (one of the best if not the best in the province). I really enjoyed my time as a forest fire fighter. Hard work and adversity build character.

#137 NoName on 05.08.16 at 9:24 am

Happy Mothers Day, especially to mother of my children.

…_( )_
.(_(0)_)
…..(_)
…….| __
.__..|/_/
.\_\|
…….|
…….|
…….|

#138 For those about to flop... on 05.08.16 at 10:17 am

#136 Cloudy on 05.08.16 at 4:58 am
#41 For those about to flop… on 05.06.16 at 8:24 pm
I have a friend who is a fire fighter six months a year based out of Chilliwack.

I caught up with him recently and he said he was fighting some of the big ones up in the interior last summer for $26.50 an hour.

Overtime after 7 hours but only allowed to work 12hrs maximum.

He stated he used to make more money in Construction but fire fighting is his passion.

No fear, and a little bit crazy…

M41BC
————————————–

I used to be on this crew. Was originally based out of Surrey, then moved to Abbotsford Tanker Base, then to Chilliwack. Great crew (one of the best if not the best in the province). I really enjoyed my time as a forest fire fighter. Hard work and adversity build character.

/////////////////////////////////

Hey Cloudy, thank you for your service.
I was going to give my friend a shoutout by name,but decided to respect his privacy.

I know he is working hard now and earning every penny.

Cloudy,if you have a friend named Rainy, they could really use him up in Fort Mac right now…

M41BC

#139 God Emperor Trump on 05.08.16 at 10:41 am

#1 Turner Nation

What a load of conspiratorial shyte. Migration into the cities has been ongoing since agriculture was introduced 8,000 years ago.

#140 For those about to flop... on 05.08.16 at 10:43 am

#134 BillyBob on 05.08.16 at 3:30 am
#127 For those about to flop… on 05.07.16 at 8:53 pm

I don’t see how this is not going to be six to eight month a year concern with these weather patterns for the foreseeable future.

Growing up in Australia this was an annual concern but in the first decade I was in Canada the main concern in a lot of cities was snow removal.

It is going to be a long summer in a lot of communities.

B.C has its early ones too but a massive one is inevitable later on in the summer.

Hopefully a few towns that have been delaying fire prevention now spend the dollars to attempt to protect their communities so some good can come out of all of this.

Good luck guys,your gonna need it…

M41BC

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

Interesting timing of your post, I have just been mulling over leaving my present job operating commercial jets overseas and returning to my first flying love: aerial fire attack. Working in Canada can’t compare with the tax-free cash of an expat gig, but with the financial motivation long since eased I’m itching to come home and “go back to the beginning”. And unfortunately I believe you’re entirely correct that fire suppression will only be a growth industry going forward.

///////////////////////////////

Hey Billybob,yes the writing is on the wall.
I don’t like to get into the whole global warming thing but I notice vast changes in B.C since 02.

As I have stated on this blog before, a hot period where I grew up in Australia would be in the mid 30s just like we get in Vancouver now….except now they get 2/3 weeks in the 50s

My brother spent three weeks last summer staying on a friends couch because he could not go back home because of bushfires.He did not lose his house which is good but it must make you question where your living.

As for your situation, there is not much job security these days but I think you’re in good shape.

I have been to 35 countries, but I think you might have me beaten…

M41BC

#141 maxx on 05.08.16 at 12:00 pm

Talk about taking the express elevator down the evolutionary ladder……I hope that their kids and grand kids don’t see this when they are old enough to understand that debasement has nothing to do with architecture.

#142 dosouth on 05.08.16 at 12:19 pm

“….Would you do that for $40 an hour?” Yes, did it for free in 2003. It is what you do if you care….

#143 WUL on 05.08.16 at 12:37 pm

I will do everything within my power to see that Air Canada will never see another dollar of mine and I encourage all to follow me.

$4000 for a one way ticket from Alberta to the East Coast over the last few days while oil sands companies spend millions housing, feeding and airlifting people, dogs, cats, ferrets etc.

Of course, the response was, “It was not us. It was our computerized ticket sale system.”

A corporate tin ear, a national embarrassment and a bunch of bastards.

#144 Victoria on 05.08.16 at 12:40 pm

We had people begging to buy our Leaside Toronto house via their RE agent. They wrote a poem. They were expecting their first baby. I was expecting my third. We didn’t give a crap – just took the highest offer.

#145 paul on 05.08.16 at 12:52 pm

#144 Victoria on 05.08.16 at 12:40 pm

We had people begging to buy our Leaside Toronto house via their RE agent. They wrote a poem. They were expecting their first baby. I was expecting my third. We didn’t give a crap – just took the highest offer
————————————————————-
Heartless just heartless!
On Mothers day no less !!!

#146 paul on 05.08.16 at 1:00 pm

#125 Ace Goodheart on 05.07.16 at 7:14 pm

And yet you can STILL buy a single family house in Toronto, with parking, lots of bedrooms, and walking distance to a brand new transit hub including direct airport service, direct service to Union Station, direct access to a brand new, underground LRT which is dubbed the “largest transit project in Canada”, for under $500,000.

Yes, you can:

https://www.realtor.ca/Residential/Single-Family/16903237/4-DENNIS-AVE-Toronto-Ontario-M6N2T6-Mount-Dennis

Why does no one want to live here? I have no idea. Maybe because we don’t have a Starbucks? (but we have a “supercoffee, which is locally owned and arguably better).

So yeah go buy your million dollar decrepit semi in Leslieville (which has no direct access to any transit other than streetcars and busses). This makes sense (no, actually it doesn’t I am being sarcastic).

Why do people only buy in “prime neighbourhoods”?

The leader of a popular group in high school, was not popular when he/she started the group. Stop being lemmings, people. And stay away from “prime” neighbourhoods
———————————————————-
Short answer OFFERS held of till Tuesday at 7pm
I will update on Wednesday.

#147 Drew on 05.08.16 at 1:03 pm

https://ca.news.yahoo.com/foreign-buyers-crushing-home-dreams-vancouver-canada-b-133008569.html

Here’s another article to incite the flames against foreign buyers of real estate in Vancouver.
One of the solutions in the article is to charge foreign buyers a 1.5% tax, that would then be redistributed to Canadian home owners.
Just adding this article to the growing list of media outlets that are blaming foreign buyers for the state of Vancouver real estate.

#148 YVR Update on 05.08.16 at 1:13 pm

http://www.news1130.com/2016/05/08/foreign-buyers-crushing-home-dreams-in-vancouver-as-govt-does-nothing-study/

Even a top university says foreign buyers at root cause. Those with vested interests try to play race card to Hide issue.

#149 TurnerNation on 05.08.16 at 1:23 pm

Welp their stated “climate change” goal is to get us off oil use – targets – by 2020. Rolling back industrialization, limiting travel (can’t afford carbon or a fancy new car? Too bad, stay confined to a city.).

A fire taking place in the one single region of a former economic powerhouse (Alberta) that will shut down Oil & Gas industry, and the people are herded into camps (dis-used work camps), what are the chances eh? What are the chances.

And the Lac Magnetic disaster putting a damper on moving oil via railcar.

New pipelines are banned..so…in light of these amazing coincidences I’d say this our Iceland moment.
Will cripple under high debt, personal and govt.

Did you think the elites would leave us unscathed?

#150 jess on 05.08.16 at 1:38 pm

135 steerage steward on 05.08.16 at 4:37 am

Why Did World War I Just End?
By Claire Suddath Monday, Oct. 04, 2010
http://content.time.com/time/world/article/0,8599,2023140,00.html

#151 Ronaldo on 05.08.16 at 1:47 pm

#143 WUL on 05.08.16 at 12:37 pm

”I will do everything within my power to see that Air Canada will never see another dollar of mine and I encourage all to follow me.”

When they took away my 85000 air mile points after they merged with CP which was $85000 that I had to spend over a few years to obtain that amount and showed no care in doing so I discontinued using this airline now since 2000. Westjet all the way.

#152 TurnerNation on 05.08.16 at 2:07 pm

And as I’ve always maintained, every key stroke we enter online – including this forum – is tracked, analysed in specific and aggregate.

The State then assigns us a ‘threat score’ based on self, and even place of residence. State agents use this to determine level of force they should use against you.
Some flagged people might be extinguished on the spot. (Extra-judicial action, like they used and trained on in Iraq campaigns. I maintain the urban war has come home to roost)

Forget the star pinned to your clothes, un-desirables are flagged in the system:

https://www.washingtonpost.com/local/public-safety/the-new-way-police-are-surveilling-you-calculating-your-threat-score/2016/01/10/e42bccac-8e15-11e5-baf4-bdf37355da0c_story.html

“The program scoured billions of data points, including arrest reports, property records, commercial databases, deep Web searches and the man’s social- media postings. It calculated his threat level as the highest of three color-coded scores: a bright red warning.”

#153 SWL1976 on 05.08.16 at 2:17 pm

#143 WUL

I will do everything within my power to see that Air Canada will never see another dollar of mine and I encourage all to follow me.

$4000 for a one way ticket from Alberta to the East Coast over the last few days while oil sands companies spend millions housing, feeding and airlifting people, dogs, cats, ferrets etc.

Of course, the response was, “It was not us. It was our computerized ticket sale system.”

A corporate tin ear, a national embarrassment and a bunch of bastards.

—————–

I heard that also and feel exackery the same

#154 Air Canada on 05.08.16 at 2:28 pm

#143 WUL on 05.08.16 at 12:37 pm

I will do everything within my power to see that Air Canada will never see another dollar of mine and I encourage all to follow me.

$4000 for a one way ticket from Alberta to the East Coast over the last few days while oil sands companies spend millions housing, feeding and airlifting people, dogs, cats, ferrets etc.

Of course, the response was, “It was not us. It was our computerized ticket sale system.”

A corporate tin ear, a national embarrassment and a bunch of bastards.

====

Capitalism by the book. Demand-supply-price.

#155 Karma Chameleon on 05.08.16 at 2:37 pm

#144 Victoria on 05.08.16 at 12:40 pm

We had people begging to buy our Leaside Toronto house via their RE agent. They wrote a poem. They were expecting their first baby. I was expecting my third. We didn’t give a crap – just took the highest offer.

====

That’s one way to do it.
Probably the most common way.
You can also learn about the concept of karma.

#156 jess on 05.08.16 at 3:03 pm

What happens to the mortgages on the hyper-inflated homes?
===============
Trumpian view :
http://www.cnbc.com/2016/05/06/donald-trump-on-us-debt.html
===============

john doe vs the fembots?

Web Site Devoted to Helping Customers Cheat Cheated its Customers
Posted on May 4, 2016 by William Black new economic perspectives

http://gizmodo.com/how-ashley-madison-hid-its-fembot-con-from-users-and-in-1728410265

#157 NoName on 05.08.16 at 3:06 pm

#143 WUL on 05.08.16 at 12:37 pm

We don’t fly often, but I am doing that ever since 2002, when they pulled airplane is full, you and your 2yrold will grab connecting flight to Frankfurt and fly home from there. When we/i fly i make sure that airplane have yellow bird on vertical stabiliser, bit pricier but that’s ok.

https://youtu.be/rkVoo6lkJhQ

#158 Tamsen on 05.08.16 at 3:07 pm

http://www.huffingtonpost.ca/2016/05/08/vancouver-housing-crisis_n_9864968.html?icid=maing-grid7|main5|dl1|sec1_lnk2%26pLid%3D-586567802

#159 RainMold on 05.08.16 at 5:15 pm

The average salary in Vancouver is 80,000 and the average sale price of a detached home is 1.3 million dollars.

What big 5 bank is lending families with $150,000 income that much money? None

Why are Vancouver real estate firms opening offices in Shanghai?

Housing will never fall in Vancouver because the stream of foreign money won’t

Your ideas work for cities like Ottawa and Halifax Garth. Vancouver is a different beast
TS: said.
You look foolish denying it

Read my post. Chinese guys not even present. — Garth

Housing will never fall in Vancouver because the stream of foreign money won’t

Your ideas work for cities like Ottawa and Halifax Garth. Vancouver is a different beast

You look foolish denying it

Read my post. Chinese guys not even present. — Garth

You’re delusional. Chinese guys are present – and at the beginning of the chain – which started the domino.

#160 Victoria on 05.08.16 at 6:03 pm

Karma Chameleon,

So a family offers you $50,000 under asking because they wrote a poem or another family offers you $10,000 over asking hmmmm what would you do?

You would possibly sell for $50,000 under asking to the people who wrote you a poem. okayeeeee…..

#161 Victoria on 05.08.16 at 6:04 pm

Karma Chameleon,

I hate to blow your bubble but most people take the highest offer…..

#162 Martina Gyori on 05.09.16 at 10:44 pm

Wow!!! So here we are, a normal family with 3 young children and a dog, who simply wants to live close to our family and friends. ( and yes, we did give up the house hunt! We can not afford a tear down in North Van, and are moving to Kelowna). Yet, some guy who loves to jugde people based on Absolutely no knowlegde of them mocks us publicly and steals our facebook photo to make his article even more appealing to his followers. Perhaps if you had some dignity, you would have contacted us and asked about the reasons, our situation, ask for permission to use our photo. I’m just sad to see how people can be rude, judgmental and mean. Martina Gyori (the grinning mother on the picture)

You published it. — Garth

#163 Michael Gyori on 05.10.16 at 3:43 pm

That’s your rebuttal Garth? Weak. Very weak.

Tune in tonight. — Garth