Well, there ya go. Serves me right. I should have known better than to accept a CBC invite to do a live, hour-long phone-in Q&A session on home ownership, then flip over for a media web chat on the same subject with the same crew of celery-eaters.
Actually, it was amusing. As I sat in the booth in the corp’s downtown Toronto castle, listening on my headphones to callers emote about how riskless and wonderful residential real estate in Toronto is, I watched myself being flamed in the Twittersphere on my phone. Things were already going badly as I tried to convince a 26-year-old without any money he’s an idiot for buying a 350-square-foot, $270,000 packing crate ($780 a foot) for him and his GF to live in, when Susan called.
After announcing she has an MBA, she said her two financial advisors had been wrong in advising her (she sounded like a retiree) not to buy a Toronto house six years ago. Now, she bragged, it had advanced in value from $600,000 to $900,000. So there. Garth’s an idiot. Young people everywhere should follow her on this path to wealth. And did she mention she has an MBA?
Well, as you might imagine, my arguments were mute. Nobody actually cares if we have a borrowing overload, if mortgage rates have bottomed, if kids are mindlessly trading mobility for debtdom, if the Bank of Mom’s dangerously increasing family exposure to one inflated asset, if the economy is barely moving ahead or if buying a one-bedroom condo doubles the cost of renting one.
The topic was,’ have you given up on home ownership?’ It was aimed at the moister crowd. And, no, they haven’t. So expect a lot of Millennial real estate road kill in the years ahead.
But back to Susan. Congrats, I said. So, are you gonna crystallize that gain? Because it’s just illusory at the moment, the product of a bubble market that could go down as fast as it swelled. Of course, she said no. “I don’t need it.” And she got a little louder, which is apparently when I became a #sexist, #mysogenist, patronizing, anti-#womenmatter, insulting, #tooarrogantforCBC and #dinosauratttitude old dude.
Hey, I said to the caller, “don’t get your hair in a dander.”
Sexist? And here I thought hair was, well, hair. I’m basically covered in it. Does it mean I was dissing my own sex? So confusing.
Anyway, the bias of the show, the producer, the host and the callers was simple. Buying a house is safe. It is risk-free. The sooner you do it, the better. Renters are fools, throwing away their money. And simply because everybody is desperate to own a house, real estate will go up. Probably forever. Garth’s an idiot.
Lost in the noise is any sense of financial balance. The young typically buy houses with 100% of the money they have, and take on epic debt at the same time. They feel real estate’s a right, not a privilege and therefore are pissed and disenfranchised when it’s unattainable. The financial illiteracy rampant in our society has resulted in this one-asset strategy among people who have zero knowledge of investing or taxes, and no plan.
That’s cool. Lately they’ve lucked out in an inflated market caused by interest rate suppression and free-range hormones. But this will not remain. And then I can guarantee the CBC will want nothing to do with me. Hell, we’re there already.
Let’s finish this off with a note from Brittany, another young’un who sees nothing but gains ahead. In Winnipeg, no less. Perhaps you can assist me in answering. I’m on my way to court-ordered therapy.
I just came across your blog and I am hooked. My husband and I have been trying to decide for the last year if we should buy a house or not. We live in Saskatoon, in our late 20s, recently finished university, and we earning about 120K combined and have managed to save about $80K for a down payment on a home. This money has just been sitting in our TFSAs doing basically nothing. We have enough to put down 20% on a 400K house which is a nice house in Saskatoon that we could live in for at least 5+ years, but we would have nothing left for savings. Should we just put down 10% instead of 20%, or maybe opt for a smaller home? But then we would likely outgrow that home before the 5 years. We currently rent a 3 bedroom bungalow, everything included for $1200. We could see ourselves being happy renting for another couple years, but are worried we have wasted so much already on rent instead of paying off equity. Like many others, we are faced with harsh criticism from our family and friends about our concerns regarding the current market. Thanks in advance, Garth!
Your newest fan,
B.
290 comments ↓
Is Winnipeg the same as Saskatoon now?
dogs are great
beer is good
people are crazy
Geez Garth, why did you have to rain on his parade? He SAID he travelled a lot for work so he never really had to sleep in his 350 square foot condo anyway.
Seriously though, the real estate deluson was out in full force on that show today. People are just as blind to reality as I have feared.
This is a powerful force, for sure.
The default response to being unable to add to a conversation… sexism, racism, bigotry etc. etc. Thinking people are well used to that at this point. Sorry you had such a tough time Garth.
Feel for ya.
Be strong.
Today’s stray thought at work….
Why is it that in most ,if not all of the cities I have lived in does the East side of town get the rough end of the pineapple?
Some of you guys must live in the East side of your city/ town and it must be nicer than the West side of town?
Or is West always best…
M42BC
Don’t get yourself in a pickel
SEE….I TOLD YOU YOUR NOT SO DIFFERENT THAN I AM!!
REGARDS,
TRUMP
Nobody actually cares if mortgage rates have bottomed…
______________________
Eight years they’ve been near this level and there is a slight chance of another rate cut on Wednesday. They aren’t going up anytime soon, hope this fact doesn’t get your panties in a bunch.
I chuckled all the way to the NO COMMENTS, then decided to express my disapointment that no one on the TWITOSPHERE (operative syllable being TWIT) called you an asshole … yet.
Sorry I did not catch the show, my family has cut out all processed foods, grains, sugar and CBC.
Sorry to hear about the undeserved nasty comments, that is the way modern bullies work, if they do not like your opinion you are racist, sexist or any functional equivalent.
We have been reading your blog for 8 years and are happy (modestly wealthy) renters. And yes, for now we have given up on home ownership – I should have added that to the earlier list.
Thank you for your very entertaining and very informative blog.
This real estate bubble is exhausting.
Is there a recording of the podcast that I can listen to available anywhere?
To B and Bo keep renting and invest
Don’t let the haters get you down Garth we still love you!
Smoking Man has found new Targets.
PB43
Our world is being reduced to hashtags…….
Maybe these ladies need to go sit in their safe spaces so they don’t have to suffer these horrendous micro aggressions of having their views challenged….
Is the interview online? I need a laugh…..
Total residential sales in Vancouver peaked on a spike 3 months ago:
http://www.chpc.biz/vancouver-housing.html
That did not stop prices from drifting higher producing a hat trick event for each of the last 3 months where all sectors (SFD, T-House and Condos) created new peak prices each month.
Prices up, sales down usually means a bipolar swing to OMG what have I done.
But we will have to wait and see.
I find today that people are so primed for insult, they’ll claim offense at anything, including mundane sayings that carry no insult.
I shocked someone the other day by making a reference to ‘re-arranging the deck chairs on the Titanic’; they had never heard the phrase, had no idea what it meant, but were at least aware that ‘alot (sic) of people died on the Titanic’.
Over 100 years ago. Too soon?
Remember Garth, there is no such thing as bad publicity! And if it’s any consolation, I believe the politically-correct term is “don’t get your panties in a bunch”.
I believe that is a gender neutral comment, because I regularly fling it at both males and females…
Poor Garth. Verbally vicariated by a school of millennial house-horny young ‘uns who have never seen a real estate market crash! Too bad. I believe a total wipe out of that “home buyers” is definitely in order!!
No, it would NOT be fun! Yes, it comes with divorce, bankruptcy, suicides, job loss, and a general ‘the world really SUCKS’ attitude. It happens when your rate resets from the unconsciously low rate of under 3% to a 5% and you don’t have room in the budget to pass wind.
I only hope Janet the Yellin gets the ball rolling real FAST with a .25% in July, followed up by another in Sept, and maybe December.
That will calm the hot pants for a home syndrome.
US Markets set a new ALL TIME HIGH in the markets today. Sold my long bonds and booked a 13% gain this year (thank you), lightened up on some well appreciated -but financially weak-REITS, again at over 3G profit.
Like Real Estate -Markets at NEW IGHS represent undue risks to me.
What do I know, I’m just an investor schmuck.
At the Communist Broadcasting Corp. a “SWM Wasp” is de facto an Oppressor.
Yes from what I heard of your limited chance to answer to those who were just calling to blather vs actually ask a question and listen, Justin should be awarding you with An Order of Canada medal.
God man, why do you choose to put up with such abuse?
You know nothing, have no experience and are penniless. Sexist now too.
Watch out Wynne will be putting plans in motion to remove your from the province.
Wise Up Garth! Get with the 1 asset, huge debt program.
I wonder in Japan how they feel the one asset real estate strategy of investing worked out.
The Spanish, Irish, U.S., etc. real estate deep downturn is still not back to original peak levels.
This is the problem, real estate is emotional for most and they don’t understand the economic impact of it.
I’ve commented on this before. Garth, you are sexist. But not in the “women belong in the kitchen” obnoxious way, in the more subtle product-of-your-generation. I’m pretty sure you don’t overlty dislike women, however you still use colloquialisms and thinking that was acceptable decades ago and act confused when people get in a huff about it. I see it from my dad, instead of analyzing why people repeatedly get offended by what he says and staying current he just bitches that ‘political correctness is run amok’. Yeah, maybe some people get upset too fast but thousands of people interact with others, privately and publically, without ever being accused of sexism so if it’s a repeat thing then the one constant is you. You’re a smart guy, you know that ‘hair in a dander’ is like ‘panties in a bunch’ you’re using a sterotypical feminine trait to imply irrationality in order to undermine what they’re saying, because you know ‘bitch’s be crazy’. It’s not women-cant-vote sexist but it’s not nothing. Either accept that the world is changing around you and change with it or, if you want to talk like it’s the 1970’s then take it on the chin and don’t pretend you’re some victim. Anyways, I’ll say it again like I did months ago: I really thing you should try to be less of a grizzled old man because it’ll put off the most progressive people out there: young women and frankly they’re the ones that most need to hear your advice. Women’s career and pay nearing equality which means they are just as likely to make stupid financial decisions as young men. They need to hear what you say and while it’s easy to say “well if they can’t take a little heat then fuck’em” the true leader would be the change he wants to see. Anyways, all the best.
Finding your blog inspired me to invest and I am much much better off than if I had financed a “starter home” and tried to flip my way to happiness.
For every one that you help there must be thousands of ignorant, hundreds of them willingly, purposefully blind.
So be it. No one can say you didn’t try.
The topics was ‘have you given up on home ownership?’ It was aimed at the moister crowd. And, no, they haven’t. So expect a lot of Millennial real estate road kill in the years ahead.-Garth.
//////////////////////////
I’m expecting to see a lot less Millennials at open houses now that Pokemon Go is out.
Priorities…
M42BC
‘Sexist, misogynist, patronizing’. Typical name calling behavior in today’s gutless society where expressing an opinion ensures a personal attack.
If it’s not the ‘blame game’, it’s name calling. Surprised they left out ‘bully’ which is another favourite of those who cannot offer back an intelligent argument or rebuttal. Women are the worst in this regard. Oh? Did I mention the Jaguar happens to be one just in case anyone wants to jump down my throat for saying it? Dorothy and Bandit know the real Garth.
The rest of us should just be grateful we have a little exposure to a fine mind.
Forget about buying a house. Stick to the $1200/month bung. As for throwing money away, you sort of are because the money in your TFSA is in your words just sitting there doing basically nothing. You need to get this money invested in a balanced portfolio of securities. The TFSA is poorly named as a savings account. It should be called a TFIA – as Tax Free Investment Account.
dont let the haters get you down garth, they called you, right!
CBC: they place where scary Jian was allowed to run amuk unchecked, ’cause you know the chics dug him. So dreamy some passed out. ..literally wrung.
Sick culture.
Garth, honestly, why do you need this? Why not just disappear into your financial business and store and let the young uns blow themselves to smithereens. Then they can mount another occupy movement and phone Bernie and T2 up when they get run over again.
Garth,
I marvel at your insanity or bravery at going on this talk show. What’s next covering yourself with honey and lying on an anthill? If you’re going for therapy, I recommend shock!
The CBC much like FOX is a business—bet you don’t hear those two networks in the same sentence often. And the CBC (much like FOX) knows their audience. Whether they are left leaning or right leaning, these networks spend tremendous amounts of time, money and research to determine the demographics, appetites and predisposition of their audience. Once this is established, then programming is tailored to feed that particular paradigm. Oh sure, these networks will try and provide ‘balanced’ content where they will bring in an ’analyst’ (see dead man walking) that will present the other side of the argument. But more often than not the viewer have already been lathered and wound up to a certain leaning perspective that they really are not of a mindset to consider alternative concepts. These shows primarily are there to entertain and validate the audiences’ already made up mind. Pity the fool who would try to change their mind. In the words of the venerable Dale Carnegie “A man convinced against his will is of the same opinion still”.
Susan was making tired, stupid arguments that have been addressed a billion times before, here and elsewhere, and it sounds like she was making them in an annoying manner.
But yeah, you made a sexist comment. You’re being disingenuous if you claim not to see that, and you could have just used this post to apologise and move on from that.
Honestly I find that your bluster and lack of humility (which you try to mask with faux self-deprecation), while making for “snappy” blog posts, often outweighs the fact that you’re making excellent economic arguments.
You probably don’t care because your blog’s doing great and you’ve got a rusted-on fanbase, but I can’t help but feel that if you pulled your head in just a tiny bit, you could reach a much wider audience with your really sound advice, and have a much greater impact on discourse and heck, maybe even policy.
Susan “Toronto house six years…it had advanced in value from $600,000 to $900,000.”
FYI, a balanced portfolio growing at 8% would beat this easily after RE commissions are paid. Not to mention taxes, repairs….not worth it for an investment for me.
Both of my in-laws are accountants, they think rent is throwing away money. To actually crunch the numbers, I don’t know how you could argue buying is worth the money in the GTA or YVR.
I hope you sent a copy of the show the Mr Morneau, it is up to him to take the horse blinders off of the RE market, and curb borrowing.
Garth,
You need Smoking Man to be an advisor for the proper gender neutral comments. No room for puns, metaphors and such in the public forum anymore… only in comment basements!
One may be inclined to call Garth many things, but sexist should not be one of them. When it comes to dissing stupid people he is definitely an equal opportunity dude.
Garth .
Your first mistake as a white, anglosaxon, middle aged man was ……offering your opinion.
You’re not allowed to have one in this politically correct day and age.
They will be the first to come crying for a life ring when they are under water. Just sayin’
Your second mistake was offering your opinion on the CBC.
Are you surprised that they treated you this way? Of course not. You’re a wealthy “cis-white” male Garth, thus, enemy número uno for organizations like CBC and the SJWs that infest their ranks. So please remember this anytime you are tempted here on the blog to drift towards PC rhetoric like frivolous accusations of racism. The people who you pander to with such admonishments will still hate you regardless of any virtue signalling on your part because in their soft little minds your race, gender, and “privilege” prevent you from ever being able to understand their “oppressed ” lives.
I thought you were a vegan for some reason? A fellow celery muncher.
#25 Frank
Ohh, do you need a tissue? I can send you some!
I needed a couple for myself after reading your post, yes, the tears were flowing, from laughter!
To all the guys telling the ladies not to get their panties in a bunch,you might want to check this image out…
M42BC
http://imgur.com/Y61pIvS
#6
One consideration to why the west side of town seems better than east side of town goes back to beginning of industrial age. When towns were being built in north America, the factories were strategically put on the east side. As winds generally blow from west to east in this part of the world, the wealthier class strategically located themselves on the west side of town as to not ingest the smoke from the factories. The wealthy would congregate in the west and the working class would be located closer to the work (the factories). Although we live in the information age, remnants of town planning legacy still exist and you will notice even in 2016 new industrial buildings will generally not be built in the west end. The NIMBY (not in my back yard) lobby is very influential.
It’s almost like when people come to this blog and get called racist – interesting times we live in…
don’t get your hair in a dander
equals
don’t get your dander up
East Coasters get it…
When the market completes the turn it just began…the exits are going to be crowded. Fifteen percent will be gone in a blink of an eye. People who bought 7 years ago would still cash out for 15 points less than today.
My partner just locked in her gains on the Vancouver house…this blog helped me convince her….and the fact that her “income properties” are all underwater by 20 points now.
Thanks Garth and crappy oil market!! Learned a lesson before missing out!!
Sexist is an overused term by women who are on the loosing end of an argument. Men have no response that would make sense because we are sexists.
Commenting on a woman’s appearance is sexist. Calling a man a ‘male chauvinist pig’ is generally accepted behavior.
The fact is Garth you have been wrong about real estate for a long time. Many people did not buy based on your opinion and have lost out in making millions of dollars if they lived in Vancouver. That’s just fact.
However, you have your opinion and looking at the market today you are likely correct and a crash is coming. The callers today argued because they are fearful of missing out on something that is no longer available.
People need to take their profits now and not be so greedy. My brother who bought a home on a double lot on the west side of Vancouver about 12 years ago for $680k told me he could list it today at $7.5 million. I asked him why he’s not selling now and he said he wants to wait then consider it because it’s just going to keep going up in value.
Buying a house like a stock is easy. The hard part is having it go up then it’s overcoming the greed of not selling thinking you were a genius when you bought it.
I have completely underestimated the situation. Gonna need a much bigger stash of popcorn.
Brittany,
Is the bungalow total balls? Has your rent been keeping you off the streets? For ~12% of your gross income? Enjoy, the only waste is letting the TFSAs wither. Get out of this mode of thinking that rent equals waste, it’s toxic.
I believe your argument may have been taken as moot but not mute. Thanks for your blog.
Nope. I meant mute. They hit my button. — Garth
80k doing nothing?! Let me guess, [email protected] set you up with a “tax free savings account”.
Step 1: educate yourself on investments and what a tfsa actually is (hint, you can have many different accounts registered as tfsa or rrsp. e.g. I have mine split between a discount online broker and a big Canadian bank)
Step 2: open a discount online broker account and do self guided registered accounts. Start with the min to wet your feet (few thousand per registered) or jump right in. You’re young enough to make some mistakes.
Step 3: set up you balanced portfolio. Rebalance yearly.
You have time on your side. Maxing your tfsa now will have you well set for later in life.
CBC (radio)
Comatose By Crap
Canadians Boring Canadians
Canned Bad Corn
I could go on all night…..
Housing , Bonds, and Stocks all at record highs !
Central banks printing like crazy.
This party ain’t ending anytime soon.
Poor Garth. Racist and sexist. Just like every other Boomer male.
If you think “victim” culture is bad now, wait till the R/E meltdown. It will be everybody else’s fault. The Bank of Mom will probably find it has a lot of angry customers.
I’m sure the CBC will be there to help dry the tears but you won’t be invited.
Not even if you offer to munch whole trays of celery.
The Higher Real Estate goes, the higher it gets. Because rates are going lower. With Brexit to blame. Garth you may be right on your calls by how many years too early?
You learned a valuable lesson mr. Turner: stop trying to save the crowd, the warnings are everywhere. Let them eat cardboard!
“And she got a little louder, which is apparently when I became a #sexist, #mysogenist, patronizing, anti-#womenmatter, insulting, #tooarrogantforCBC and #dinosauratttitude old dude.”
Great writing today Garth!………You have a real gift for words.
Also, you’re correct about todays generation of home buyers being lost since they just don’t get it. The only way they will understand is when home values start going down again. I applaud you for trying to warn them of the risks ahead but I can see your advice is not getting through to the majority of them. They will be learning the hard way unfortunately.
Link > <a href="http://www.cbc.ca/news/canada/ottawa/garth-turner-home-ownership-1.3674023"
CHAT RECAP : Should you give up on your dream of owning a home?
I can’t find a link to the interview Garth . Can you post it?
Anyone ?
Thanks in advance
Hmmmm … let’s try that again?
Link > CHAT RECAP : Should you give up on your dream of owning a home?
#25 Frank and #34. Love it – having courage to be contrary to the “Rusted on fan base.” Face it Garth, your humour doesn’t hide your sexism. Stuff you said 20 years ago was cool at the men’s club. Not any more. Too old to learn Garth?
I’d be interested to hear anyone’s comments on the evolving banking crisis in Europe. Deutsche Bank and Credit Suisse have been garnering negative daily headlines and of course there’s the Italian Banks. The US banks have roughly a 1- 2% default rate on their loans but it got as bad as 5% in the 2008 crisis ….currently the Italian Banks are reported to be in the 17-18% default rate and their third largest bank, Banca Monte dei Paschi Siena is in dire straits. If anyone has any relatives in Italy that they talk to on a regular basis, how bad is the economic situation there?
She says “sexist and patronizing” like it’s a bad thing. When you can win an argument, attack chauvinist pig.
Let’s try this again. When you can’t win an argument, attack the chauvinist pig. Then stick your head back in the sand.
#134 Godth on 07.11.16 at 12:10 pm
Professor Steve Keen A Real Media Interview
https://www.youtube.com/watch?v=l1Gg1RGAO6k
=============================
Thank you for posting this. Who knew economists could speak plain English.
While I was checking out Dr. Keen, I found this little nugget on Wikipedia.
“Most of Steve Keen’s recent work focuses on modeling Hyman Minsky’s financial instability hypothesis and Irving Fisher’s debt deflation.[3][4] The hypothesis predicts that an overly large private debt-to-GDP ratio can cause deflation and depression. Here, the falling of the price level results in a continually rising real quantity of outstanding debt. Moreover, the continued deleveraging of outstanding debts increases the rate of deflation. Thus, debt and deflation act on and react to one another, resulting in a debt-deflation spiral. The outcome is a depression. Steve Keen argues that the current global economic crisis is the result of too much private debt.”
Hey gartho. Ouch. Hair in a dander!!! Hehe. Well think how I feel. The abuse I take for my gorgeous mane. PC will be the death of us. I’m sure you will now be joining my side.
Garth is Garth. I’d hate to see him change a thing. His writing is entertaining and advise is spot on. What more you want for free?
“RRSPs are a terrible idea because “you lose the lucrative dividend tax credit and the 50-per-cent capital gains reduction,” one reader wrote. Another said that contributing to an RRSP would “turn a tax-free windfall into taxable income when taken out of the RRSP.”
Nonsense.
I’ve been hearing these sorts of specious arguments for years, and no matter how many times I explain why they’re wrong, they endure like the personal finance version of some scary urban legend.”
http://www.theglobeandmail.com/globe-investor/investor-education/anti-rrsp-arguments-are-merely-financial-urban-legends/article30833688/
Buying is easy, selling at a profit is an art.
Feminists (or Feminazis) are just idiots. Everything is a trigger, whether you’re talking about hair, weight, money, or even their nails. They know they’re idiots, thus they will always use “Sexist” as a counter arguments, because they have no facts, just emotions.
If you had told her not to get her knickers in a knot, that would have been sexist. Hair in a dander seems pretty mild.
Anyhow, for the nice folks in Winnipeg, I’d tell them to rent and look up the 13F forms on sec.gov for successful US hedge fund managers like Seth Klarman and build a 20 stock portfolio in their TFSA and and RSP accounts based on these with their money. I imagine you would not approve, though, and would recommend etf’s.
#44 For those about to flop… on 07.12.16 at 8:19 pm
To all the guys telling the ladies not to get their panties in a bunch,you might want to check this image out…
I completely forgot what this blog post was about after looking at that LOL well done
Good to hear you are going to court ordered therapy.
It is impossible for me to comprehend how you thought trying to be the voice of reason at the Canadian Broadcorping Castration would end well. Even someone as simple as myself could see that you’d end up being roasted like the pig you would inevitably be labeled.
But, thanks for trying!
Its always nice to see fellow progressives canabalising each other, glad they stuck it to you, hope they take you to the Human rights kangeroo court and stick it to you for $20K or so, you so deserve each other.
#25 Frank & #34 NJ – thank you for your comments. I agree with both of you.
Well Garth,
Sticks and stones, right? You do come off as sexist at times, and dismissive, but hey in your favor, you love dogs and I sense you have a special place in your heart for cats, so it’s all good.
I am quite certain Garth can more than hold with any caller.
Like Suzie Orman who often tells callers “DENIED” when they want to buy a want, when they really can’t afford it.
Both of these fine talkers are equal opportunity annoyers.
Bravo!!
What gets splatted on the Twitter’s sphere is similar to throwing dung at a wall. Not much of it usually sticks.
At least no further pesky advice dispensed on CBC in the future. That’s a plus. Why be associated with them.
By the way, does that stand for “Can Broadcast Crap?”
M64WI
The RE Cult: for the last ten or so years I’ve seen the RE industry go from regulated lending to the Wild West with interest rates plummeting along with it. This has lead to such an emotion driven feeding frenzy of epic proportion. It has gotten so bad that even owners who dare question the possibility of a bubble do so in hushed tones away from prying ears. If this is NOT a bubble I am convinced that I am living in the Twilight Zone. Today’s Herd does not know how to evaluate RISK. Instead they let fear and greed be their guide. Too bad because the result is not living a full life, but one of anxiety and arrogance. Garth you have done all you can. You just have to sit back and watch now.
Garth, It seems there has been alot of doom and gloom lately, but I am going to take this as a positive. When your comment is considered modern sexism, then we must be doing pretty good.
Prime Minister Harper did a lot of things, good and not so good while in office. His biggest failing in my view was not tilling the CBC under when he had the chance. Canadians actually pay these morons to talk down at them like they are unthinking children.
#25 Frank on 07.12.16 at 8:03 pm
I’ve commented on this before. Garth, you are sexist. But not in the “women belong in the kitchen” obnoxious way, in the more subtle product-of-your-generation. I’m pretty sure you don’t overlty dislike women, however you still use colloquialisms and thinking that was acceptable decades ago and act confused when people get in a huff about it. I see it from my dad, instead of analyzing why people repeatedly get offended by what he says and staying current he just bitches that ‘political correctness is run amok’. Yeah, maybe some people get upset too fast but thousands of people interact with others, privately and publically, without ever being accused of sexism so if it’s a repeat thing then the one constant is you. You’re a smart guy, you know that ‘hair in a dander’ is like ‘panties in a bunch’ you’re using a sterotypical feminine trait to imply irrationality in order to undermine what they’re saying, because you know ‘bitch’s be crazy’. It’s not women-cant-vote sexist but it’s not nothing. Either accept that the world is changing around you and change with it or, if you want to talk like it’s the 1970’s then take it on the chin and don’t pretend you’re some victim. Anyways, I’ll say it again like I did months ago: I really thing you should try to be less of a grizzled old man because it’ll put off the most progressive people out there: young women and frankly they’re the ones that most need to hear your advice. Women’s career and pay nearing equality which means they are just as likely to make stupid financial decisions as young men. They need to hear what you say and while it’s easy to say “well if they can’t take a little heat then fuck’em” the true leader would be the change he wants to see. Anyways, all the best.
….
Let’s just assume for a moment your right.
Having a bias towards others based on there gender, skin color, age, etc., is normal human behavior not abnormal. The political correctness you espouse is fake. You don’t know who gets flack for what, when people interact with each other. You’re just making a biased guess. You’re grouping a segment of the population and putting on a label. I could easily assume your a bigot based on your generalizations and broad assumptions about men that are the age of your dad. Maybe you’ve got hidden resentment towards your father? Maybe I should assume that he was harsh towards you and label you with “adult child of abuse?” If I did, then I could easily view you through that lens and alter my perception of your intentions when you try to communicate.
Secondly, if you knew even the smallest amount about PR, you’d know that Garth is fabulous at it. What he did today and blogged about is pure gold! Although he has some agitation to the way people responded to him, he knows it’s the price to be paid for an ton of free advertising…PR.
Garth, great job today on CBC!
I was walking around union station and longo’s with a huge smile on my face as you spoke truth to Stephano (300+ foot condo buying guy) and the MBA person, both acted like you spoke another language. I felt the discussions were at times adversarial but on the whole what I expected. I was shocked just now when I opened up your blog tonight to see you being accused of sexism and whatever else they thought they could get to stick.
It’s amazing to me what people resort to when they are losing an argument, I digress though.
I needed to write to tell you that listening to your show entirely reinforced my wife and my decision to not talk real estate or money with almost anyone we know or else risk having what happened to you today- illogical/emotional responses.
We are happy having been renters in downtown Toronto for the past 15 years with a simple plan, invest monthly in a balanced (60/40) diversified portfolio, always adding to component that is below target and being consistent. We’ve been disciplined using ETFs across our sheltered and non-sheltered accounts and averaged a 9.2% return over 15 years and our networth had just passed 28 times our yearly expenses. For example if we spent 100k per year (which is way higher then actual) then our NW would be 2.8 mil. At 40 years old, we are getting ready to actively retire and do something else with our lives … Travel, take courses, exercise, volunteer.
The best part is, we’ve NEVER owned real estate and likely never will! Something most of the callers would lose their minds over! Akin, to breaking the rules of the space-time continuum.
I wish I could have been there to support you on the call in today but want you to know that you’ve helped many, many people like me to be confident in our choice to not drink the real estate cool aid and also avoid no win discussions like you had to endure today.
Thanks for fighting the good fight on our behalf Garth and for trying to help people before it’s too late.
All the best and please keep it up!
Keeping the Faith
Happy Birthday to meeee…
I’ll be getting a bit looped. Then Joyce Smith is mine.
#46 F.dover on 07.12.16 at 8:34 pm
CBC (radio)
Comatose By Crap
Canadians Boring Canadians
Canned Bad Corn
I could go on all night…..
//////////////////////////
Celery Benders Clubhouse…
M42BC
#74 Renter’s Revenge! on 07.12.16 at 8:56 pm
#44 For those about to flop… on 07.12.16 at 8:19 pm
To all the guys telling the ladies not to get their panties in a bunch,you might want to check this image out…
I completely forgot what this blog post was about after looking at that LOL well done
///////////////////////////////
Hey RR,I should use the word panties in all my posts.
187 views in 57 minutes.
And I thought tomorrow was hump day…
M42BC
Methinks Garth knew exactly how his comments would be received, and was just having some fun. Sometimes people make it too easy.
Anyone wanting to listen to the call in show from today – simply search ‘Ontario today cbc’ in podcasts and you will find it titled ‘have you given up on owning a home?’
Two thumbs up!
#46 Catalyst
“It’s almost like when people come to this blog and get called racist – interesting times we live in…”
Zing……..
Actually dissing Chinese people, because they are Chinese, is racist. I shall continue to point that out. — Garth
You were great Garth! I felt like calling in after Susan called. I am another Susan, also a retire. I moved into this rented townhome a year ago. By the way, the gem I found was up for sale for 6 months and the owner decided to take it off the market and rent it for the next couple of years. It was all fixed up to sell and I could buy it anytime if I wanted. I love this place! It has a living room with a 15 foot ceiling, a 20 foot kitchen, old forest trees around that are so thick you can’t see any back neighbours, etc. Problem is, it’s a condo. $350 a month for doing a little patch of grass and when you add that to the 300 in taxes, it’s more than another $100,000 in mortgage. Also I have watched units around me sit on the market for months, while their place is empty and they pay condo fees and taxes. I have 3 friends who are paying $700 a month in fees for an apartment condo. It’s like buying a mobile home and having the lot rent go up every year. You were RIGHT in telling the guy with the 300 square foot place he was nuts. We all know the other Susan got lucky and bought at the right time- just like those who bought at the end of the Nortel bubble. But there are fewer GREATER FOOLS in Ottawa right now. The MLS news, reports that there was a 2.4% DECREASE in condo sales between June of last year and June of 2016. People should google the plunge o meter regularly to see some of these stats. Good for you for injecting a little sanity into this topic!
Listening to the masses, as well as reading what they write, really really helps in showing me how awesome I am. Not that I didn’t already know that, but it is nice to see it regularly confirmed.
As for CBC………DELETED.
“This is SPARTA !!” (kicks cat into bottomless pit)
I think at best your comment to the lady was maybe inappropriate (too familiar) for that type of forum, or maybe a bit condescending. But not sexist.
And I have to confess that I do find, at times, there is a slight old world vibe (white males know best) to this whole site along with the odd female bashing from some of the male blog dogs. Also the perception that only women want houses not men. (My hubby was the one who wanted to buy and I stopped us).
However, having said all that, it still does not detract from the fact that your advice is wise. The lady was foolish to react that way and so too the CBC. Their loss.
It seems a lot of folks can only think in black and white terms these days.
I do appreciate your efforts. Your opinions helped save us from buying a house in Maple Ridge of all god forsaken places… Still trying to figure out where to invest though.
Thanks Garth. Keep going.
Wealth and leadership are contrarian. Our country’s politically correct elite are conformists. Is it any wonder that, after throwing away the nation’s future, they’d encourage the citizenry to do the same? The CBC is an outdated, socialist monolith that deserves to die a painful death.
Any dude who can simultaneously get up the nose of realtors and social justice warriors is cool with me.
Paging Smoking man and blog dogs to Twitter.
Light it up.
Dropped by tonight Duke of Devon’s patio party with beer and food samples and band. The best least-corporate feeling and leafy patio in TO.
hey Garth … you should have called that 1-800 number that the CBC has for employees who are being harassed … or maybe it’s just for the ones who are being creeped out and dry-humped on their desks … not sure, anyways, nothing can save the millenials, they are the doomed generation … did the people in Radio share their zolofts with you?
Hello Garth,
Listened to the CBC segment at noon today. Was feeding my toddler lunch. Greta was entertained as was I.
In general people are not ready to hear “the truth” about a tipping market. Greed is the key motivator that fuels arrogance. Counting down for the down turn in the Toronto housing market.
Garth your the flash light of reason….keep on !
Sorry, I don’t watch the CBC aka Politburo. I don’t need any direction on what to say, think, feel or do.
“…Well, as you might imagine, my arguments were mute…..”
_________________________
Actually, no. The arguments here have always made perfect sense……in a perfect world subject to unfettered free markets and the laws of supply and demand.
Unfortunately, now, there are too many Canadians with too much skin in the game to ever allow that to happen. We’ve gone far beyond the point of no return.
#89 Keeping the Faith on 07.12.16 at 9:20 pm
Anyone wanting to listen to the call in show from today – simply search ‘Ontario today cbc’ in podcasts and you will find it titled ‘have you given up on owning a home?’
====================================
Download Link :
Have you given up on owning a home?
People who play the PC card-sexist, racist, blah,blah are basically fascists-instead of employing logic they use these slurs. Trivia: after a great many years I have yet to see even one woman publicly accused of sexism, and absolutely the only public figures I have ever seen accused of racism were all white non-Jewish men. The MSM and the educational system pump out the propaganda non-stop.
“MBA Linda”
Dissed by a feminazi who listens to the Corpse
Wear your badge of honour proudly ……
Lot’s of SNAG millenials hanging out tonight dissing Garth on Greater Fool. Sad really…
#21 BOOM! on 07.12.16 at 7:58 pm
Poor Garth. Verbally vicariated by a school of millennial house-horny young ‘uns who have never seen a real estate market crash!
………………………………………………………………………
Got me thinking and turning the clock back… weren’t we millennial age when our crash happened.
Yup… yes we were
I was glad to hear you on Ontario Today, as it was a welcome change from those deeply intellectual and hard-hitting news programs they always air…like “call and tell us about times you fought a wild animal” and tomorrow’s “when has a celebrity ever helped you out?”
You were better off on Canadaland…
#Meanwhile… #[email protected]…
https://youtu.be/Zzu8ZxBHMWk
Realtor.ca beat Timmies crack-cocaine-in-a-cup for addiction today; I browsed condo prices in downtown Calgary.
Brand new condo PLUS an underground parking spot for $280.
I’m viewing the web page thinking ‘Oooooo’ when my brains kicked in and asked me how long the daily commute would be. Those CBC morons won’t get why you said what you said until they visit bankruptcy court.
But keep trying, Dude. You are saving us one person at a time!
My Dearest Joyce, and Jasmin.
How dare you call Pink Shirt, Girly voice Garth a Sexist and patronizing while leaving me out of it.
I’m insulted.
Listen up toots, Dudes and Chic’s are wired differently no matter how much your teacher culturally mind fkd your brain. Look at the animal world.
Study after study shows woman who stay at home to raise kids are 5 times happier than chic’s who trade time for crumbs. And kid rising is a much tougher job than putting on make up, going to the office and pretending to work. Showing some leg and then getting the bastard sent to HR because you grew tired of him.
Him gawking at your push up bra no longer was a thrill for you.
You and your kind what to send men to the slammer when they dump you and you want the courts to believe you no matter what the truth is. Obviously push back is coming. Go Trump.
As a proud member of the Sexist misogynists heretics’ society I challenge you to a debate, I know you gals are reading these posts. But don’t try and use Holocaust tactics like throwing out a few words a to paint a negative picture with no debate. That strategy has been over used and I doesn’t work on a rich bastard that has no boss other than his stay at home wife who gets whatever she wants.
You and your kind got sucked in like a midget playing a tuba in the July dessert. Not long ago you didn’t have to work. Now that family income has been split into two and now both you and yours need to work long hours and it’s still not enough. The machine got you real good by fking your brain.
You really should drop to your knee’s and prey to the Gods of the Universe, The Nictonites can we have our grand parents life back please.
I’ll call the counsel via the UCC and make it happen.
But your kind is to far gone to have any reasonable thoughts left.
Dr Smoking Man
Phd Herdonomics
Planet Nictonite
1200×12 = $14,400 for your housing costs for a year. That’s about 10% of your gross. Nothing. Keep renting.
Garth, you’re the best and what do i have to do to make you luv me again? Sure i said some bad things, but you deserved it and i’m sorry.
I’d like to add my comments again to Canada. You need hellp man. Things are gonna get real soon… so what’s a guy suppose to do in this artificial world to make amends…. if i saw you in a bar i’d just get in your face… but the innet ain’t like that.
Garth – I tuned into the CBC webchat and thought your responses were concise, accurate and to the point. Understandable that your audience would not be receptive to your message with the cult status of RE, so I hope you don’t read too much into the backlash as it is completely unwarranted.
I personally very much appreciate the advice and perspective you provide on a daily basis. Thanks for taking the time to help those that actually want to listen make better financial choices.
Oh, and I have an MBA too (but am allergic to dander).
Reminds me, I used to keep the alarm clock tuned to CBC Radio. 6am, the clock would go off with some nitwit blathering on about all the social programs we needed with nary a budget ever in sight, and it was damn near impossible to go back to sleep once I started yelling back at the nitwit.
“Lately they’ve lucked out in an inflated market caused by interest rate suppression and free-range hormones. But this will not remain.” – Garth
——————————————————-
Yes, it can definitely remain! When will you admit that Garth? Please admit it. You know you want to. Central bankers cannot allow interest rates to rise. That would cause a financial cataclysm. Japan has had zero rates for the last 2 decades. Now the rest of the world will as well. And for even longer. Eventually, things will collapse, but in the meantime the powers that be will continue to kick the can down the road.
YUK…NOT THE CBC’S FINEST REAL ESTATE HOUR
Garth, hope you were able to make it in time to the local trauma unit after that dalliance with the drones of the Mother Corp and many of its callers/listeners.
Those callers you displayed are silly, obsequious adherents of political correctness. They simply don’t understand basic economics.
To them that issue’s a sin, something you don’t broach because it might cause bad thoughts of some kind, if discussion should ever turn to debt repayment schedules for example. These ladies are on their way to financial Armageddon.
I have a question for these caller-uppers, whose sidewalk cafe creds exceed their financial IQs by endless leaps and bounds: what if Donald Trump wins the US presidency this November?
You will be arithmetic road-kill.
So young ladies, please unload your mob-like responses towards Garth whose clarion calls just keep on keeping on. He really cares about you, unlike the rest of us.
Conforming to mob-think in matters financial is an absolute sure-fire way to a ragged end of any financial dream you may have.
Whatever has happened to the concept of personal development of independent thought processes generated in the hopes of yielding fair and balanced economic outcomes?
Just wondering.
St. Garth of “it only hurts when I laugh” must be wondering, too.
Now the rest of us know what it’s REALLY like to dwell on the Front Line where fiscal reality gives way to fantasy-enhanced financial bad outcomes and the inevitable horrific results that always lie just around yonder corner.
There’s no No-Man’s-Land here, sweetie.
Just the enemy trenches.
So Susan has an MBA? Just proves that there are MBAs and there are MBAs. Or more accurately, young financially-challenged people with MBAs who think they know everything, and financially literate people with MBAs who are smart with money. My son has an MBA and is light years ahead in financial literacy.
To Brittany, how can you say that paying $1200 rent on a $120k income is “wasting” the money? The difference goes into savings investments, right? That is how you got the $80k growing tax free. If you buy the house and the housing market in the Toon goes stagnant or worse, you will be paying tons of interest on a bad investment, and generating no savings. You are currently on the right track, but want to derail. Hope you don’t! Think long term. At age 40, $250k invested. At 50, $600k. At 60, $1-2 mil.
#85 Smoking Man on 07.12.16 at 9:14 pm
Happy Birthday to meeee…
I’ll be getting a bit looped. Then Joyce Smith is mine.
————————————————————
Doesn’t hurt to do some penance while your at it, sounds like you’ll owe some before it’s all said and done.
Good job Garth! Although you should have declared your allegiance to Trudeau immediately so you had the “blessing” of this worthless mouthpiece organization right from the get go before trolling them.
To that MBA. Typical (what does a MBA mean these days? Oh yeah nothing). She will wait and wait and then get creamed like the rest of them. She will then complain and moan along with everyone else asking for government help. The same government that is billions of dollars in debt and completely out of ammo. Shills like Cottingham and that Lee guy will be nowhere to be found. “How could this happen?” How??! Is all we will hear.
MF
Some people can’t handle the real world. Everyone gets things thrown at them daily but not everyone freaks out. Nothing would get done if everyone took such mild comments as some type of hate.
Probably the reason why so many women get paid a fraction of what men do and hit glass ceiling. Too much time overanalyzing and complaining about benign comments and gestures (many from other women).
#45 RudyGQ on 07.12.16 at 8:22 pm
#6
One consideration to why the west side of town seems better than east side of town goes back to beginning of industrial age. When towns were being built in north America, the factories were strategically put on the east side. As winds generally blow from west to east in this part of the world, the wealthier class strategically located themselves on the west side of town as to not ingest the smoke from the factories. The wealthy would congregate in the west and the working class would be located closer to the work (the factories). Although we live in the information age, remnants of town planning legacy still exist and you will notice even in 2016 new industrial buildings will generally not be built in the west end. The NIMBY (not in my back yard) lobby is very influential.
////////////////////////
Hey Rudy ,thanks for this thoughtful response.
Where I grew up if the wind blew one way you could smell the abattoir and the other way you could smell the brewery.
Guess which most people preferred…
M42BC
“Nobody actually cares if we have a borrowing overload, if mortgage rates have bottomed, if kids are mindlessly trading mobility for debtdom, if the Bank of Mom’s dangerously increasing family exposure to one inflated asset, if the economy is barely moving ahead or if buying a one-bedroom condo doubles the cost of renting one.” – Garth
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Nobody cares about massive RE debt. So true. And it’s because they know that interest rates will never go up. If anything, they may even go further down. I’m really not convinced that they’ve bottomed yet.
Sorry Into the Jack tonight.
MBA bahahhaha! where do they teach you to steal the customer list and set up shop across the street. Hire your own slaves to make you loot.
No where.
MBA You just have a certificate that tells employers you will kiss ass and you understand Delta, Gamma, Vega.
Big whoop. Call heads or tails right ten times in a row and bet it. Your rich. Period.
I need to start a real school that really teaches.
Garth;
I hope you have this session all recorded, including all the flack you got for trying to talk some sense into these idiots. Sooner or later all this insanity will end and when it does I want you to read back or play back the whole session. Make sure you rub it right into their faces and say: I TOLD YOU SO!!!!!!!!!!!!!!!
Happy Bday smokey stud!! Hottest alien beast this side of the universe. Party on stud.
It’s obvious what happened. It’s propaganda 101 when you cant attack the message they have to attack the messenger . They know if they attack your message you would destroy them with facts and numbers they know to be true. Also they call screen the callers which were either real horny house callers or simply just realtors posing as callers. If I would of known you were on I would of tried to get on air by bypassing the screeners with tales of humping a house and then bam a question to you Garth. You are a true Canadian hero
Anyway, the bias of the show, the producer, the host and the callers was simple. Buying a house is safe. It is risk-free. The sooner you do it, the better. Renters are fools, throwing away their money. And simply because everybody is desperate to own a house, real estate will go up. Probably forever. Garth’s an idiot.
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No. Garth is NOT an idiot, but he has been wrong about RE these last few years. The free market is not operating as it should. Central bankers will not allow it to operate in that fashion. Under the current system, RE will probably continue to rise.
#119 MF on 07.12.16 at 10:02 pm
Good job Garth! Although you should have declared your allegiance to Trudeau immediately so you had the “blessing” of this worthless mouthpiece organization right from the get go before trolling them.
To that MBA. Typical (what does a MBA mean these days? Oh yeah nothing). She will wait and wait and then get creamed like the rest of them. She will then complain and moan along with everyone else asking for government help. The same government that is billions of dollars in debt and completely out of ammo. Shills like Cottingham and that Lee guy will be nowhere to be found. “How could this happen?” How??! Is all we will hear.
MF
……………………
You really are starting to get it. Shit, I hope I had something to do with. Won’t be insulted if I didn’t.
Millennial breath of fresh air.
Nice
I’ve said it before and I’ll say it again
My wife and her friends have told me I need to get in touch with my feminine side – I told them if I had a feminine side I’d be touching it all the time
Brittany,
there’s a website just for you!
http://www.millennial-revolution.com/
They did what you are currently doing, and are now financially secure.
#118 Ole Doberman on 07.12.16 at 10:00 pm
#85 Smoking Man on 07.12.16 at 9:14 pm
Happy Birthday to meeee…
I’ll be getting a bit looped. Then Joyce Smith is mine.
————————————————————
Doesn’t hurt to do some penance while your at it, sounds like you’ll owe some before it’s all said and done.
…..
Definition of penance.
“voluntary self-punishment inflicted as an outward expression of repentance for having done wrong.”
Seriously. I’m going to the gazebo to get hammerd.
Anyone that has followed this blog for the past 8 years knows Garth isn’t sexist.
To Brittany, putting 20% down is your best bet, you will avoid huge insurance fees and lower your mortgage payment. But, jumping into home ownership will likely double your housing costs ($1600 mortgage payment, property tax, insurance, maintenance, bills). So if you’re comfortable going from $1200/ to $2400/mo for shelter, then it’s an ok move for the longer term, but again only if your lifestyle supports $2400/mo for shelter.
Risk–you are putting your equity at risk….would you be comfortable selling in 10 years for the same price you paid today? Are you comfortable carrying a large debt for a long time?
In terms of house size, bigger is probably better, if you’re already thinking you might outgrow it and want to avoid that.
#125 Say What? on 07.12.16 at 10:17 pm
Anyway, the bias of the show, the producer, the host and the callers was simple. Buying a house is safe. It is risk-free. The sooner you do it, the better. Renters are fools, throwing away their money. And simply because everybody is desperate to own a house, real estate will go up. Probably forever. Garth’s an idiot.
————————————————————-
No. Garth is NOT an idiot, but he has been wrong about RE these last few years. The free market is not operating as it should. Central bankers will not allow it to operate in that fashion. Under the current system, RE will probably continue to rise.
…..
Garth is schooled, he’s never had the luxury of delivering pizzas, sizing up the prey for a better tip, or selling door to door to support a family and cumming up with creative ways to close the deal.
The shit you learn on that journey. Been there done that.
But his advise for the typical risk adverse Canadian is better than them going it alone. Or listening to the cowboy. Me.
You need balls that hit the floor during a jog. Ignore the pain, give me more bitch is whats going through your head.
There is only one Smoking Man.
Haha…you were a bug looking for a windshield! As a gal…that comment isnt near the radar for sexist. Once the princess’s paper wealth evaporates….the learning shall begin. Should of said panties in a knot…really stir sh*t up….too funny!
Are you surprised that they treated you this way? Of course not. You’re a wealthy “cis-white” male Garth, thus, enemy número uno for organizations like CBC and the SJWs that infest their ranks. So please remember this anytime you are tempted here on the blog to drift towards PC rhetoric like frivolous accusations of racism. The people who you pander to with such admonishments will still hate you regardless of any virtue signalling on your part because in their soft little minds your race, gender, and “privilege” prevent you from ever being able to understand their “oppressed ” lives.
Comment of the day. (Bolding mine).
I totally agree with your take on RE and the insanity surrounding it.
That being said, I thought you wore sexism and patronism like a badge of honour?
I Iove the smell of burning SJWs in the morning.
The Boss is not into Education.
He’s also not into Entertainment.
But he is into Edutainment…
M42BC
Frank’s comment #25 got it right. I haven’t heard the radio show, but it sounds like the twittersphere is reacting to something beyond the whole real estate issue, to an air of arrogance. I can imagine that it’s hard not to come across as patronizing and arrogant on this topic, speaking negatively of RE when most people believe in it so passionately. Even if Garth is technically right about his financial argument, perhaps his delivery was a bit offputting.
.#129 Doug t on 07.12.16 at 10:21 pm
I’ve said it before and I’ll say it again
My wife and her friends have told me I need to get in touch with my feminine side – I told them if I had a feminine side I’d be touching it all the time
————————————————————
Thanks for the good belly laugh. Still laughing…
#117 cramar
“So Susan has an MBA? Just proves that there are MBAs and there are MBAs.”
Maybe her MBA is a “Master of Business Assassination”?
Garth I don’t always agree with you but I give you a lot of credit, you dish it out but you can also take it… unlike the tweeting women you met today. Of course in today’s society the only bad thing left on earth is a “white man”… there’s nothing ever wrong with what a person of color says or does because you’d be a racist if you said anything about it … and there’s never anything wrong with what a women says or does because you’d be a sexist if you said anything about it !! Keep up the blog Garth, it’s entertaining, interesting and it keeps us all in check!!
In the Gazebo talk to Son Number one, reflecting on his grand father. My daddy.
At the rock beach, son one freaking about all the bees in the hive. Pops slams this soccer sized bee hive with his hand to the ground for safe passage to the beach with his grand son.
He was imprisoned and slaved by Nazis in ww2, a few bees won’t scare him that easy before dementia set in.
Jesus if David Suzuki find out. The family name will be ruined.
I love my dad. and he’s going soon.
That’s life.
#125 Shirley Valentine on 07.12.16 at 10:12 pm
Happy Bday smokey stud!! Hottest alien beast this side of the universe. Party on stud.
Where you babe. I miss ya.
Garth, there is no one coming down the pipeline to replace you, so please be careful on your Harley this summer.
#103 Nelley on 07.12.16 at 9:41 pm
————————————-
I’ll give you a public link where there is blatant sexism against men, from both a male and a female (ie., men wanting to form men’s groups on campus to talk about men’s issues such as child rearing and navigating the legal system are “trolls”, and “would make women afraid simply due to their existence”).
Start at the 2:35 mark…first sexist attack from the man at 3:20, first sexist attack from the woman at 4:25).
https://youtu.be/5s4sZi8zjzY
Hey Garth,
First time commenter, but long time fan. Love the blog and love a great many of your posters. An entertaining bunch to be sure. However, I have noticed that some are certainly more genuine, open minded and less self absorbed contributes than others. Anyway, #6, my understanding is that historically, the east end of most older cities and towns were more blue collar. The reason being that most of the heavy industry was located on that side of Town so that the prevailing winds would carry the smell and fumes easterly and not affect the privileged west end residents. #25 Frank, although I generally agree with your comment, I also think many people today are hypersensitive and that it often distracts from real conversations and stifles open and productive debate. If we were all more respectful of one another’s opinions and less sensitive, we could focus more of time and energy on discussing and resolving more substantive issues, which would benefit to the benefit of everyone. Just my thoughts, you are certainly entitled to your own.
Garth, I may have missed it in your past posts, but I am curious as to your thoughts on the impact of land use policies like the GGH growth plan on overall GTA housing prices (not just SFDs and other low density ground oriented units) in comparison to the other factors you speak to.
Keep on sharing and stimulating the discussion!
#91 Garth fan on 07.12.16 at 9:24 pm
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Sales in Ottawa were an all time record high in June. But I’ll take your word on the condo stats…that market peaked a few years ago.
I thought it was a very good show except for Susan. Yes, Garth can be condescending, but I feel Susan, MBA initiated the condescension.
As for the Twitter comments: Never read the comments!
(BTW, why does it seem so many people are looking for an argument these days, especially when they’re too thin-skinned to handle it?)
#93 Brazil ex-pat on 07.12.16 at 9:28 pm
“This is SPARTA !!” (kicks cat into bottomless pit)
+++++++++++++++++++++++++++++++++++
Cat hits bottom of bottomless pit…..lands on feet.
#146 Bottoms_Up on 07.12.16 at 10:52 pm
#103 Nelley on 07.12.16 at 9:41 pm
————————————-
I’ll give you a public link where there is blatant sexism against men, from both a male and a female (ie., men wanting to form men’s groups on campus to talk about men’s issues such as child rearing and navigating the legal system are “trolls”, and “would make women afraid simply due to their existence”).
Start at the 2:35 mark…first sexist attack from the man at 3:20, first sexist attack from the woman at 4:25).
https://youtu.be/5s4sZi8zjzY
………………
What real man would be in a men’s rights group.
Cross me or you , we are trading fists.
Dear Susan (and I just know you’re lurking here tonight)
I was one who tuned in to the program this afternoon on Ontario Today. A couple of comments…
Yes, there is some, little, truth to your accusation of sexism and [perceived] arrogance. But the arrogance comes from many years of business experience and, more importantly, financial success. Can it still be called arrogance if you’re right? Maybe not.
But Susan, you are your own worst enemy and there is certainly sufficient room to call you out for arrogance too. Why, with your much-vaunted MBA, can you not see that your house hasn’t made you one red cent – yet? You will not realize anything like $300K unless and until you sell that house. In the meantime the $600K you paid isn’t making you any money and in fact the cost of maintaining and supporting that house is money out of pocket.
As Garth continually preaches, assets MAKE you money; they don’t COST you money.
Maybe you will be fortunate and this ugly bubble will continue inflated until the day you wish to sell. If so, good for you! But it’s just as likely that it will be burst and you know how balloons careen around a room until falling to the ground. Just because there’s no “thud” doesn’t make it any less ugly.
As for the sexism rampant on this blog, certainly from many of the posters and occasionally from our host, learn to ignore it. They don’t hear it in themselves, wouldn’t recognize it if it smacked them in the head, and will never understand how it hurts and effects women and girls. Life is too short and there’s too many real battles to fight.
F69ON
#137 Big Jack on 07.12.16 at 10:41 pm
I Iove the smell of burning SJWs in the morning.
…..
Scared shirtless of debating a real man with semi working package.
No show is what I’m thinking. It’s in the communist manual.
#106 Harbour
Hmmm…. thinking back. 1987 owned at house in Neenah, WI. Took a different job, requiring a move to Buffalo, NY. Rented the place in WI as prices were ‘soft’ just then. Bought a cheap old place in Buffalo. Sold the WI home the next year when markets went back up.
Left Buffalo NY late 1989 back to WI. Since most of my work was in Ontario, I crossed to Canada nearly every week. Seemed the TO market was starting to go lame when we moved back to WI. (Made money on the Buffalo 4 bed bungalow). Then got real estate shock when I saw the prices in Madison, WI. Not to worry, there is always a deal if you shop hard.
Seemed to me interest rates were moving up/down along with the prices back then? Faulty memory, or was that thought about right?
M64WI
Garth basically put himself in trumps shoes for a couple hours.
White cis gendered male not conforming to mainstream liberal propaganda……
The differerences really are shades of grey.
Nearly EVERYONE between 30 and 50 now has an MBA. MBA = good for handling people, good for lateral business decisions,good for implementing ‘engineered failure’ in manufacturing (arguably necessary in today’s world), good for short term stock boost & long term bankruptcy, etc. Dunning Kruger effect is strong here once MBA-er is outside knowledge zone. Most know less than they think they do in finance; combine this with high ego factor and you have perfect storm of passionate in belief even if often completely wrong.
Are you surprised that they treated you this way? Of course not. You’re a wealthy “cis-white” male Garth, thus, enemy número uno for organizations like CBC and the SJWs that infest their ranks. So please remember this anytime you are tempted here on the blog to drift towards PC rhetoric like frivolous accusations of racism. The people who you pander to with such admonishments will still hate you regardless of any virtue signalling on your part because in their soft little minds your race, gender, and “privilege” prevent you from ever being able to understand their “oppressed ” lives.
Comment of the day. (Bolding mine).
THIS.
Hey, I’m not even a woman.
But I still think you’re a prick Garth.
That sounds vaguely sexist. — Garth
Trying or pretending to be normal while in a mental institution is not easy.
One flew over cuckoo’s nest in real life, But much crazier.
#141 Herf on 07.12.16 at 10:45 pm
#117 cramar
“So Susan has an MBA? Just proves that there are MBAs and there are MBAs.”
Maybe her MBA is a “Master of Business Assassination”?
…………………….
Modern education:
Memorize, regurgitate, Socialize, Obey.
Drinking in the Gazebo with the binoculars searching for ET is so under rated.
Cant walk, happey brth day to me.
Good night
God help your soul, you’ve angered the SJW crowd because you were slightly demeaning to a female. How horrible of you! Now enjoy your SJW shame purgatory
Is ‘hair in a dander’ sexist? Only Garth can answer that. If hand on heart he would have said the same to a guy that called in – then no, not sexist, just patronizing (which is fine because she sounds like an idiot who deserved it). However, if he thrust that patronizing knife a little deeper because she was female – then, yes, sexist (despite men having hair).
Phrases that should be banned from the Queen’s english:
1. Renting is throwing money away.
2. If I don’t buy now I’ll never be able to afford to
3. I have made money, because my house is ‘worth’ more.
4. A house is an investment
Honestly, the level of financial incompetence on the phone in show was breathtaking. And from an MBA as well.
Frankly, while I laud your efforts Garth, I personally hope you continue to fail to educate the masses. When I sell my house, I really hope that these ‘greater fools’ abound and I can make a killing from their stupidity.
I think I once felt sorry for them, but their lack of any understanding of risk, balance and economics, (in any way shape or form) along with their religious conviction in their tulip bulb investment strategies, has killed that sympathy.
The only thing that will make them realize their foolishness will be what happened in the good ole USA.
Till that happens, I applaud your stubborn nature to try to educate.
But stay away from the CBC and the Globe and mail. Your ask for nothing but abuse with these media dolts.
And maybe if you wholeheartedy sing the praises of the new Ghostbusters movie you can get yourself back into the good books of the social warrriors.
‘Hair in a dander indeed.’ You should really know the sexist, toxic and inflamatory context of hair and dander in the same sentence.
I’ll bet your were manspreading in your chair as well.
Time for some sensitivity training, mon ami.
NASA shuts down live International Space Station feed as ‘mysterious UFO enters Earth’s atmosphere’
Looks like Smoking Mans Reinforcements have finally arrived.
http://www.mirror.co.uk/news/weird-news/nasa-shuts-down-live-international-8408011
Ugh. One echo chamber meets another.
…barf.
Why is it that rent is a complete waste of money (which it’s not, you do have to pay for a roof over your head no matter what), but no one ever talks about interest on a mortgage. Which is an ACTUAL waste of money, because it only buys you the privilege of borrowing money, and nowadays pretty much ends up close to doubling what you actually bay for that house.)
Garth I commend you for taking the punishment at CBC – a network whose heartfelt mission is to make the nation collectively dumber.
I mean it has a lot of potential but look at its readership. Read the comments on the articles. You will grimace like you have never grimaced before.
Yeah I get it you’re a genius cause you bought real estate. If you listened to Garth you wouldn’t have the gain you’re sitting on right now. Yet people publicly predict the direction of stocks, right or wrong, all the time, and nobody comes after them. Why are predictions about the real estate market so controversial? Oh yeah, because most people are sheep who don’t even know what stocks are or how to buy them, but saw everyone around them score big RE gains and think they will too.
The freedom of not being a part of that is priceless.
They say any publicity is good publicity… but Garth it sounds like you’re being bullied.
Hang in there Garth, you’re doing God’s work so don’t give up. It’s not your fault people are spending themselves into home oblivion.
Smoking Man, Happy Birthday! (What is the hidden meaning behind a midget playing a tuba in the July dessert?)
Garth, is that you in the melon hat?
You are a champion of truth and voice of reason.
You sure pissed off those single ladies.
They are single I’m sure…
The doggie pictures have been super lately, that crazy husky a couple posts back was a howler!
remember the Joni Mitchell song…you don’t know what you’ve got til its gone?
all of you all calling for the CBC to be gone need to remember that it is the only media outlet that was in a great many areas of Canada before satellite radio and TV came about. To this day not all Canadians can afford satellite coverage either…
I spent a couple of years in Pukatawagon, MB and being able to both order the same bottle of booze, for the same price as you big city tuff guys and watch my hockey was tax dollars well spent in my opinion. This was before Puk got a road in, it was fly in or a long hike from the rail head…isolated.
Corus Entertainment or Shaw or Rogers sure as heck weren’t up there.
As for the sexism rampant on this blog, certainly from many of the posters and occasionally from our host, learn to ignore it. They don’t hear it in themselves, wouldn’t recognize it if it smacked them in the head, and will never understand how it hurts and effects women and girls. Life is too short and there’s too many real battles to fight.
Couldn’t agree more. You can sub in racism for the sexism part at will too. I’m a early 70 year old, old school Progressive Conservative male if that matters.
A lot of posters here continue to exhibit the very real reasons a conservative government in Canada is a very long ways off.
Garth, you remind me of Peter Schiff in 2006, he endured tons of abuse and ridicule on live television, until he was proven right.
And again he out there taking it all again trying to warn us about the next debt bubble to burst. He is going to be right again.
Also, I might point out, I think you might live on the wrong side of the country. Maybe consider moving a province or two west.
Haha, jeez Garth, you got a taste of your own self-righteous treatment.
Except these Millennials and SJWs operate under a vastly more barbaric level of self-righteousness than even you do.
This is what Trump is up against, and he will prevail.
I get it Garth. I once became so frustrated with [email protected] that I called her baby-cakes on the phone and yes I did receive a dressing down but I deserved it. It sometimes can’t be helped. Now a comment on all the greenies who gave $1000 for a deposit with Tesla. If you would have invested the $1000 in NMX at $.30 a share during this amazing crowd funding exercise you would have $4000. Instead you gave Musk free money to hemorrhage while he figures out what type of company he wants to build
People who can’t handle your sarcastic sendup of sexism need to deal with REAL sexists every day of their lives, so they can learn the difference.
Sounds like more projection from the usual suspects.
By the sounds of Susan (I listened to the broadcast), she was quite pissed from the get go. But for tweeters to call you sexist is ridiculous.
Garth, I had to look up that Geezer expression you used today. (because I’m Gen X and you are old) “Don’t get your hair in a dander” and the Web defines as….
To lose one’s temper or to become aroused to some form of action: “The boxer finally got his dander up and went after his opponent with a vengeance.”
In this example, the expression is used to describe a male boxer. Oops, I’m sorry! I’ve assumed that all boxers are males! A boxer could be a female. Does it matter, really?
The point is, I don’t feel you crossed any lines with the ladies… as I said, Susan already had an axe to grind with you.
And to think, Susan is the one advocating that our Youth should buy Real Estate as an investment strategy…. because that’s how it worked for her… Like Susan is some kind of RE Genius? Susan, you’ve got yourself a nice paper gain that means zero unless you sell it and cash in the gain before the correction comes (soon).
#25 Frank
Yes. If you want to know who is controlling society, just look for the group you are not allowed to criticize in any way. And Frank, I think you fit right in in today’s world.
I listened to the podcast. How dare Garth suggest that people’s life situation might change and they might move, get married and have kids.
And I read some of the tweets from men on the webchat. I totally know what smoking man is going on about now.
Woooo ha! Good one tonight.
Hysterics. Did u a know about this…
Lack of available childcare infringing on human rights of women and children, says legal group
cbc bc
Nutters. And brutally sexist. Parents come in 2 genders. Single dads not mentioned once.
Really love reading this blog. I try to everyday. Great insight. People are too sensitive now a days, especially if you’re telling them something contrary to their way of thinking. Hope you don’t get discouraged. You do us a great service with your clearly delivered reality check.
And double wtf ?!? Dander is gender neutral you doddering vapid fool. (Sue you are here, yes?)
Talk about grasping at straws.
she is a poor representative of her gender. Women are the best but losers come in both genders too
…….
More to the point. Next 24 months
Rates . On the mat. Sit. Stay. Down. Good dog.
stocks. Keep rising on stimulus cocaine Boj next up. Do NOT take away the punch bowl.
pms . Should have got some yesterday . Russia is an angry wounded bear. Could double from here.
jobs. Repatriation under lord emperor trump? (Is this a dream)
and finally…
saved the best for last
Van re.
From probably the oldest bull on van posting on this most excellent blog. I was calling for a double back before it doubled and then some. Did not expect the rapid spillover to the distant burbs and most of the sw part of the province though. Anyhow the mania in the lower mainland may be starting to cool a sliver but here in east van i see none at all. I have seem more than usual grossly overpriced listings. They are the only things sitting. Everything else gone in a flash.
But prices Need a pause. There will be no plunge, no crash, not really even a correction. But a pause. A consolidation. Sideways for a while. Rents keep rising though. To live west of surry (or drive a lambo) is a chioce and both will go to the highest bidder. The world will keep flowing in. Many of them still see the prices as reasonable. Other parts of Asia are huge in Surrey and other areas and ei friends speak of how , to their parents and grandparents, land is to be bought but never, under any circumstances, ever, to be sold.
So sideways we go as the global economy limps along for a while. If you wait two years you may be able to get today’s prices. Good luck with that.
For now Renting is fine. Owning is fine. But don’t wait too long because after the pause it’s back to uppa.
Don’t let haters down you Garth; you’re awesomely brilliant… or brilliantly awesome… whichever it is.
I’ve always doubted the purchase of real estate in the current (~5 or 6 years ago) market condition; started reading your blog around a year ago and it just reinforces my ideology.
Learnt so much in the past year, wish universities actually teach this stuff.
Keep it up Garth, us sober millennials need your advices.
604er from the 80s
Brilliant summary. I have had to put up with a relentless onslaught from the OH over the last few years. However, to give in to the mortgage that she wants would be much, much worse, even without a crash.
You and I are Boomers, this is the way we talk. No need to feel bad about the Radio Moscow hosts and their re-engineer the planet with words but not actions lefty acolytes.
Millennial’s that complain about your manner of speaking are themselves ageists, discriminatory, but too SELF ENTITLED/ABSORBED to realize that…I ought to know, taught them for 15 years at University.
Told you to wear Birkenstock clogs and make noise with them on air, but oh no, did you listen?
Stop caring about them, let them wallow in their mediocrity.
Advice:
After the crash, make an inquiry with Radio Moscow for a follow-up interview on the subject.
The indignity they espoused about your advice is a word for word replay of Calgary pre-crash rhetoric and to that, add some posts here today.
Yes, the wheel has come full circle. Cannot wait for the show to begin.
#25 Frank
Did anybody ever explain to you to have some respect for your elders?
If you think Garth needs to get with the times, you have no idea about the prior generation that we Boomers had to contend with and yet, did not get indignant, we were taught respect for our elders…clearly lost on you.
We protested to change the world = deeds and actions. Twitter words do nothing, talk is cheap and no, the pen is not mightier than the sword, not from what I have read (i.e., as former Prof, the literacy rate and ability to write effectively has fallen precipitously in the last 15 years).
And don’t forget, all these save the planet, sex, drugs, rock and roll, 420 freedoms (and the list could go on) were brought to you by those nasty Boomers and not GenY or Millennials, they just keep on bitching and blaming us for everything, yet are the net benefactors of the world we changed…how trite.
I do hope Brittany and husband manage to wait.
People use the concept of ‘rent as wasted money’ to persuade you to drink the Kool Aid. But don’t forget, interest payments and closing costs are also wasted money.
The very biggest amount of wasted money of all comes massively over paying for a house (and thereby subsidising someone else’s retirement), as I found out in the previous bubble.
If you can do the maths with realistic assumptions and without bias or emotion, you will probably find that renting is not as bad as you thought or it may even work out cheaper than buying. The strange thing is that the people I know who are the worst at this are a mathematician and an accountant. It does not matter what your background is, it is so easy to let hormones cloud your reasoning or to get pushed into doing the stupid thing by others.
The fact is Garth that you’re right, but wrong because the Trudeau Liberals have Clown Prince Poloz in their pockets and rates will decline rather than increase for years to come,damn the consequences, if the government gets in trouble,they’ll raid the CPP and call it ‘ sound practice’.
Garth the idiots have taken over the asylum and the smart thing to do is to insulate yourself from their madness by buying stocks and let the RE world go to hell.
Trudeau Liberals have already bucked the international norms and have started printing money and issuing bonds they know they’ll never ever never have to pay back. Politically it’s a sound move because the people who vote Liberal are idiots who believe that debt is good and saving the planet will be done with clown dust and unicorn farts lifting a dead economy as long as the selfies keep coming, look at Ontario, the sickest place on earth and people don’t care.
Seriously, the RE Bubble won’t pop for awhile yet. Bubbles only pop when everyone is in the pool, banks, pols, sicko’s et al. The drop has to kill, not maim, and we’re not there yet. Rates are dropping, that makes payments possible, baby cheques are goosing mortgage qualifications by 30% and more.
Theres loopy unfunded talk of building transit to the gooseberry farms 100 miles outside Toronto, electric driverless cars and pneumatic tubes that are sure to be in place before the first mortgage term is due, all crazy talk, but the Liberal Voters are eating all the magic poop and filling themselves with fantasy, like the girls who popped you for being disingenuous with the direction Ontario’s Ministers have paid advertisers to take the gullible public.
But, hard cash is running towards the safety of the stock market and driving values up up up, because there’s no where else to go, and if you have stocks, 5 figure days are the norm with a 35 stock portfolio containing the most boring dividend payers imaginable, because that’s the target of the fear money, and that’s why we’ll be liquid, when the fairy dust settles.
Remember the last crashes, the stock market flies when the real estate turkey falls from the sky, it happens every cycle. The TSX is still 10% below it’s all time high and should get there quickly. My estimation from historical PE’s being no where close to historic highs and earning positive is that we have at least another 30% on the upside.
You heard it hear first, the train is just now pulling out of the station and is headed for the first summer boom in a decade. And if it’s this good now, just wait until Novemeber when the real market gets back to work.
All these great comments and nothing on “gender neutrality”??? How offensive!
I guess the tranny crowd isn’t into real estate.
Or they just don’t listen to CBC.
Keep Karma and Carry On.
I heard the show. The financial comments given by you, Garth, were reasonable and wise, in my oinion.
As for comments about sexism? Hard to say, I definitely sensed some of that, and more that you stepped across a boundary into a situatiion where such charges could be made.
But, seriously, Garth!
YOU get your “hair in a dander” (in a HUGE way) anytime someone in these comments talks about
“Asian” money in the Canadian real estate market.
Now, maybe consider that this is how so many women feel on a regular basis reading the thinly veiled, sometimes blatant, misogyny that permeates these comments, sometimes originating in an indirect way from you, too often condoned or ignored by you.
Is bigotry against a racial group somehow worse than bigotry based on gender? Not under my Charter of Rights? Yours?
A moment of empathy, perhaps, might be in order.
Live and learn, as they say……
The speech that got JFK killed
https://youtu.be/y8HTr-F-FVM
Only one way to get the truth out. You do it through fiction or end up like KFK
https://youtu.be/6W0gB7iIprw
usa
…”The median price declined 1.8 percent to $217,800, the first annual decline since reliable records began in 1968. “It’s the first price decline in many, many years and possibly going back to the Great Depression,” said the group’s chief economist, Lawrence Yun.
January 24: The National Association of Realtors (NAR) announced that 2007 had the largest drop in existing home sales in 25 years,[81] and “the first price decline in many, many years and possibly going back to the Great Depression.”[82]
Raising rates – helpful /hinderance?
Between 2004 and 2006, the Fed raised interest rates 17 times, increasing them from 1% to 5.25%,
==============
how div-arb slashes taxes
the trades – which are also known as “yield enhancement” – “dividend washing,” “dividend stripping”
https://www.propublica.org/article/denmark-is-big-victim-of-wall-street-tax-avoidance-deals
Wall Street Stock Loans Drain $1 Billion a Year From German Taxpayers
https://www.propublica.org/article/a-wall-street-deal-that-turns-taxes-into-profits
…”German companies typically pay shareholders one big dividend a year. With the help of U.S. banks, international investors briefly lend their shares to German funds that don’t have to pay a dividend tax. The avoided tax – usually 15 percent of the dividend – is split by the investors and other participants in the deal. These transactions cost the German treasury about $1 billion a year. Related Story »
https://www.propublica.org/article/a-wall-street-deal-that-turns-taxes-into-profits
==========================
Documents in the cache indicate that bankers book div-arb trades in France, Canada, Italy, Japan, Sweden, Switzerland, Netherlands, Israel, Hungary, Singapore, Norway, Denmark, Finland, Belgium, Austria, Czech Republic, Poland, Portugal, Spain and South Africa. They are also on the lookout for new markets.
#178 Freedom First on 07.13.16 at 2:13 am
I disagree with Frank’s post at #25 as well. Young women these days are lost in a world where they are not sure what it means to be a woman. I’ve seen many women so caught up in careers and useless education that they forget about their biological clock and end up having difficulty bearing children or finding a mate later in life. Was it worth it for some money and so called prestige? They usually look miserable so i am going to say no.
Anyways, you mentioned a group controlling things that you cannot criticise. That idea is not new and has been around for centuries. Look where it has lead to in the past. By the way, there is tons of criticism out there. The difference these days is that they do not just sit back and take it, but they fight back.
MF
In 2016, a large % of the population obviously feels that the truth is a hate crime. This SJW stuff is right out of the 1984 playbook-doublespeak reigns-just listen to Hillary for five minutes.
@#175 Lithium
“Instead you gave Musk free money to hemorrhage while he figures out what type of company he wants to build…”
++++++++++++++++++++++++++++++++++++
I couldnt agree more.
Musk cant build enough Teslas to to the backlogged oders coming in.
I dont know why the environazi’s shouted me down when I pointed this out about his new and as yet, unmanucfatured, mass production electric car that they willingly shucked out a $1000 “deposit” to then wait……and wait…….aaaaannnnddd wait….for years.
Good luck getting your money back.
idiots.
@#195 MF
Women follow and don’t make their own in-roads. I mean look at recent movies coming out – Star wars, Mad Max, Ghostbusters to name a few – these were once male-originated movies lazily turned into female heroine movies.
If you want to follow trends (and be on the right side), look at where women and go an AVOID. Getting a degree and prestige? That was so 20th century!
So for example:
– getting a university degree (and probably “Masters” degrees, etc.)
– buying a Sex and the City style condo (I wanna be Sarah! or Samantha!)
Yea yea Yea, i’m a misogynist, sexist, blah blah blah. Go to your safe space!
#133 Smoking Man on 07.12.16 at 10:32 pm
Yes you played a part, but the biggest embarrassment was the last election where my entire generation voted for an this fake politician just so they could get high. That, plus working with many people my age and younger and observing their work ethic. Maybe it’s an age thing since i am an older millennial.
We millenials seem like a divided group. One one hand is the hard working, realistic group that has their eyes open. This group recognizes agism is pointless and that there is a need to learn from our elders. We recognize the media is a lie, education is no guarantee for anything, and extreme PC culture is as dangerous as any other extreme viewpoint.
The other group has their head in the sand. They foolishly believed in T2’s lies and are gullible. Are Usually lazy and like to get high. They have no idea about world event except for the propaganda fed to them on the CBC, and they still believe education secures something. This group will dismiss any viewpoint different than theirs.
When it comes to elders they are critical. Ironic since they usually do Exactly what the elders want (huge debt, credit card for audi, expensive schooling etc.). This group is clueless. Consume consume consumer and advocate for “sustainable” living that kills jobs. Yeah great idea.
Lastly while i was at York i witnessed the Israeli Aparthed week. This POS event was offensive to me and was advocated by the left leaning political parties on campus. It became clear to me right then what kind of people are hiding amongst the “tolerant” left that most of my generation think they are part of, and what a lie the whole movement is.
MF
I have a real question for anyone who might have some insight into these things. Regarding the second tweet in the post- even if that writer did think that Garth was being sexist, why would she feel the need to bring ethnicity into it? Why try to conflate the two things?
At minimum, I feel that it detracts from an argument when you try to put a label on a person, instead of expressing an issue with something someone said. Worse is the fact that, in criticizing someone for alleged chauvinism, that writer makes a comment on the speaker’s skin colour. How could that be a good idea?
#6 For those about to flop… on 07.12.16 at 7:48 pm
Pollution and prevailing winds for starters.
I listened to the broadcast yesterday because I must disclose that am a CBC radio fan, but I just wanted to make one observation that I haven’t seen posted yet and that is there were some callers at the end whose experience and opinions supported what Garth was saying but for some reason there wasn’t “time” for Garth to comment after those callers and show his sunnier side. I think the sexist aspect was that he attacked her and not the stupid males but I agree she was already itching for a fight. It would be funny though if we found out she is also ethnically Chinese because can be a bit more sensitive to their plight. ;-)
To “Frank”, Metaxa, LP, Carly, and others:
TRIGGER WARNING- DO NOT READ THIS POST AS IT MAY MAKE YOU UNCOMFORTABLE. FEEL FREE TO EXERCISE THE RIGHT TO USE YOUR SCROLL WHEEL.
THANK YOU.
What happened to Garth is standard MO for feminist and other victim groups. It is called shaming language.
These groups are starting to realize that this tactic is losing its effectiveness so they are “doubling down” and becoming even more shrill…they do not realize that this strategy will backfire as you cannot shame one who does not care or one who gives your opinion zero weight.
This is a problem for them as they believe that all opinions should carry the same weight no matter the amount of experience on the topic at hand. Thus you get the accusations of arrogance, condescension, and sexism. Next they pull the “I’m educated” card, as if education equals intelligence, and finally will come the Appeal to Authority.
Why? All because a woman lost an argument.
I had to laugh. In talking with the CBC Ontario Today producers it turns out that Phil Soper wasn’t available so they thought of Garth instead. Just wait until Hubert hears about this!
Wow what a thing to wake up to and see another home sold sign, no correction in site for 2016:
http://www.bnn.ca/canadian-home-prices-soared-to-largest-q2-gain-in-5-years-royal-lepage-says-1.525891
My head is spinning still!
If your two sources of credible real estate information are (a) Royal LePage and (b) BNN, you deserve to spin. — Garth
Listening to the podcast.
Case in point: Jasmin- what a hoot. Her mind was made up from the beginning. Brainwashed by the “renters are losers” mindset.
Smoking Man is right. Sheep.
I don’t get it…what’s wrong with being sexy?
This is the link I found, not sure if posted already.
http://www.cbc.ca/ontariotoday/episodes
And Susan is a real piece of work. From zero to condescending in nothing flat.
#199 MF,
a bone for ya, Troll:
“They foolishly believed in T2’s lies and are gullible.”
Is that any worse than me believing in Harper’s lies and voting for him in 2006? The different way of doing politics and the open, transparent and accountable government ended at the swearing in of his first cabinet.
Canadian Banks facilitate unethical tax avoidance
#194 jess on 07.13.16 at 8:09 am described
how div-arb slashes taxes
*******************************
Canadian banks have long had huge operations in tax havens including the Caribbean and the channel islands (Royal Bank). It’s unethical at a minimum. I know it, they know and god knows it. And one of these days the tax man will know it and maybe even deem it illegal the big Canadian banks will regret it a lot. My opinion.
Don’t worry about it Garth, you will do fine.. just as long as you will never ever change the lyrics to our National Anthem.
I just listened to a podcast of the CBC broadcast.
Garth, thought you did a fine job, accurately reporting the facts as you interpret them. YES, as RE prices rise, so does the risk of getting into the market. Same with the equity or Bond markets.
A false move, and I can instantly sell an equity or bond fund, or ETF. Not so much with RE. THEREs where the bigger RISK lies.
As for Susan…. ok, she does hold an ‘illusionary’ gain on her RE purchase a few years back. It is NOT a true ‘GAIN’ until it has been realized. Don’t understand her thinking, encouraging a younger want to be buyer into the market at this time. 50% more risk NOW than when the boastful Susan, hair in a dander then ‘buyer’ proclaims her victory.
Much ado about nothing…
Now to check the markets this morning, maybe less interesting but….
M64WI
Nothing exciting in the markets… quiet.
This is a problem for them as they believe that all
#203 Bytor the Snow Dog on 07.13.16 at 9:06 am
opinions should carry the same weight no matter the amount of experience on the topic at hand. Thus you get the accusations of arrogance, condescension, and sexism. Next they pull the “I’m educated” card, as if education equals intelligence, and finally will come the Appeal to Authority.
Why? All because a woman lost an argument.
———————————————————-
Women never lose an argument.
To Lose you need to accept the loss and (here is the hard part) MOVE ON.
You should go on BNN next.
Why wouldn’t this happen?
2.49% 5 year fixed mortgage.
0% for 6, 7, or 8 years on new vehicles (and people thinking it’s free money).
Honestly, why would anyone say no?!?
Winnipeg’s June real estate numbers… 8.55% sales increase, 4.6% year over year price increase, $288,339.44 avg. The chart below sums up the insanity perfectly.
http://members.shaw.ca/shomimore/june_wpg_real_estate.jpg
Sounds like they touched on a sore spot Garth.
Not to mention the person who bought the house is far, far better off than they otherwise would have been putting their money into a whopping ~6% annual return if they’re lucky. Who needs balance when your one asset that you own outpaces all the other assets out there, and its heavily leveraged to amplify the gains?
#201 maxx on 07.13.16 at 9:02 am
#6 For those about to flop… on 07.12.16 at 7:48 pm
Pollution and prevailing winds for starters.
////////////////////////////
Thanks Maxx and 2cents.You guys back up Rudy’s statement.
This makes sense.
Where I grew up in Tasmania,the west side of town was more cherished because of the topography- higher ground over looking a river.
Last night was probably not the best time to ask the question ,with everything going on.
We now have one of the reasons that the west side of town is usually the nicer side but I will re-ask part two of my question for the daytime crowd.
Does anyone on the blog live in a town/ city where the east side of town is the more desirable of the two sides?
If so, where…
M42BC
Victoria house prices +4.19% in a single month, said Teranet today.
Surely that must be some sort of record?
I Can’t remember Vancouver even doing that in a month.
http://www.housepriceindex.ca/default.aspx
Garth
I think the “hair in a dander” was totally out of line.
Technically speaking dander is found largely in the fur of animals like cats, so getting hair in a dander would be metaphorically if not technically possible. You have insulted all pet owners, people with allergies, people with dandruff, Resdan shareholders, cats, dogs and other fur covered beasts who are self-conscious about their dandruff….errr dander.
Now if you really want to turn the tables in such a debate, you need to quickly twist the opponents words into making you some kind of victim. You could have accused these young’uns of ageism or generational bias, or even linguistic fascism for not accepting some good ole’ down home Canadianisms…..then you could have laid siege to your opponent with a bunch of Charlie Farquharson, Bob and Doug malapropism sayings to stir up the pot…..
I won’t send you a bill for this high end advice….since you have been so generous with sharing your investment ideas….
#215 Paul on 07.13.16 at 10:57 am
This is a problem for them as they believe that all
#203 Bytor the Snow Dog on 07.13.16 at 9:06 am
opinions should carry the same weight no matter the amount of experience on the topic at hand. Thus you get the accusations of arrogance, condescension, and sexism. Next they pull the “I’m educated” card, as if education equals intelligence, and finally will come the Appeal to Authority.
Why? All because a woman lost an argument.
———————————————————-
Women never lose an argument.
To Lose you need to accept the loss and (here is the hard part) MOVE ON.
———————————————————
So true eh.
Just like in the workplace when people add their academic credentials after their email signature like what degree and designations they’ve earned: Bch Mgt, MBA, CMA etc.
Yep the I’m better than you because I have more education is a reality in people’s mindset, even though we see it all the time that some less educated are better performers in the workplace.
To an extent education is a scam, like RE.
Garth,
Count your blessings that you weren’t asked to moderate at this shoe sale,
http://www.mirror.co.uk/news/world-news/women-pull-hair-throw-punches-8413269
#92 Freedom First on 07.12.16 at 9:27 pm
Listening to the masses, as well as reading what they write, really really helps in showing me how awesome I am. Not that I didn’t already know that, but it is nice to see it regularly confirmed.
As for CBC………DELETED.
***************
If it wasn’t so sad it would have been funny. There was no need for high school twitter attacks when losing an argument.
An MBA?? I would have been more impressed if she spouted her extensive experience and business successes.
One word sums this up – YIKES! But at least we know how others think for better or worse.
Kind of funny, eh? Garth spends so much time here fighting prejudice, and then when he goes to CBC he’s, the prejudiced one the commenters rail against. This place must be a real sewer.
Put more money in the stock market yesterday rather than in housing/RE.
Why? Because I rent and have the money each month to continue to do so.
Renting and investing has never brought me more wealth vs owning 3 homes. 60 (stock)/40 (bond) portfolio with equal split in Canada/USA/Global.
Try it. It’s freedom.
Does anyone on the blog live in a town/ city where the east side of town is the more desirable of the two sides?
—————————-
in the town i grew up in kids were warned to stay out of the ‘west end’ after dark. (summerside pei)
i’d assume most any east coast city has the waterfront in the east and cheaper inland properties in the west.
Good thing they couldn’t see Garth manspreading under the table. The building would have exploded.
I agree with #33 RudyGQ
CBC=FOX as have as objectivity goes.
I read it to laugh at the fools more than anything. Boy have people wasted money on post secondary education. Now I sound like SM. Dang.
From the G&M this morning:
“CIBC economist Nick Exarhos pointed out that the bank [of Canada] is now using stronger language when it comes to concern over the Toronto and Vancouver housing markets.”
———————————
Wow. Stronger language.
Finally, something is being done.
#139 Observer on 07.12.16 at 10:44 pm
Frank’s comment #25 got it right. I haven’t heard the radio show, but it sounds like the twittersphere is reacting to something beyond the whole real estate issue, to an air of arrogance. I can imagine that it’s hard not to come across as patronizing and arrogant on this topic, speaking negatively of RE when most people believe in it so passionately. Even if Garth is technically right about his financial argument, perhaps his delivery was a bit offputting.
**********
I do get what you are saying but…the message is still the message and the twit sphere is reacting to the tone of delivery rather than taken heed. No doubt the CBC producer set this up to create conflict to increase ratings.
Garth gets free advertising. The message creeps further into the general community, slowly more people start to take heed, coupled with the new reality that people are ridiculously priced out of certain markets.
The message is simple – balanced and diversified and can and should be applied to every aspect of life.
M.B.A = Mostly Bullshit Actually
I know, I have one. Should have asked Susan what her GMAT score was to gauge how big of an idiot she is. Anyone that leads in with “..I have an MBA..” is a pretentious douchebag.
Since this blog is opposed to HAM having much of an impact on the Canadian RE market, then removing that as a stimulus shouldn’t have any impact, so why don’t we just limit it.
If homes are bought for by rich unemployed residents, this is a negative for the Canadian economy.
They get a lot for free. Education, social services, health care, infrastructure, etc.
If you are a resident of Canada and live off your net worth without any new income, you are tax free, but you still get access to all these services even though you don’t pay for them.
Also, there is a lot of tax free ways to transfer money including gifts and inheritances. Also, businesses can assist here as well.
A man expressed an opinion and lost his job.
Does the majority agree?
http://www.cbc.ca/beta/news/arts/tenors-change-lyrics-ocanada-1.3676571
Had a good laugh at this one today! hair in a dander, #hategarthashemakesmequestionhousing people sure are emotional about housing eh? its like you’re attacking their children or something! People are still buying and selling in Calgary, I saw an older chinese couple scoping the inner city back alley yesterday, clearly looking at houses. I think there is a lot of denial that oil is going to come back in a year, we’ll just roll along on our HELOC until then, keep going to stampede, expensive dinners out, drive the boat out to okotokes, keep paying on the Super Duty. (property assesments still high to keep taxes rolling in). *shrug* hard to predict these things, people defy logic in financial decisions, even a tiny bit of restraint or research seems out of the reach of people? Classic house denial from years past, good job on the cbc chat, #thetruthhurts I guess? stupid hashtags!
Hey Garth –
A fine column. Recently i took a break from reading your blogs but, after today, I’m back. Any guy who is a ‘cisgendered white male’ can’t be all bad.
#165 Earthling on 07.13.16 at 12:23 am
NASA shuts down live International Space Station feed as ‘mysterious UFO enters Earth’s atmosphere’
Looks like Smoking Mans Reinforcements have finally arrived.
http://www.mirror.co.uk/news/weird-news/nasa-shuts-down-live-international-8408011
+++++++++++++++++++++++++++++++++++++
this happens every other day. Ho hum….nothing to see here. Move along…..
Gold and resource shares doubling and tripling this year, oh sweet agony for the balanced investor.
Gold down $24 an ounce yesterday. A volatile, speculative asset wholly unsuitable for most people. — Garth
#219- For those about to flop
Victoria would be an example where the east side (Uplands and Oak Bay) is more desirable than the west (downtown and Esquimalt).
That may be due to Victoria originally being built around the harbour, where all the industry congregated.
“Montreal not feeling effect of foreign investors”
G&M
—————–
Follow the money, peeple.
It’s in Vancuva.
Home sweet retirement-funding home: One in five Canadians plan to sell property to pay for retirement
http://business.financialpost.com/personal-finance/retirement/home-sweet-retirement-funding-home-one-in-five-canadians-plan-to-sell-property-to-pay-for-retirement
#222 Alex N calgary on 07.13.16 at 12:17 pm
Had a good laugh at this one today! hair in a dander, #hategarthashemakesmequestionhousing people sure are emotional about housing eh? its like you’re attacking their children or something! People are still buying and selling in Calgary, I saw an older chinese couple scoping the inner city back alley yesterday, clearly looking at houses. I think there is a lot of denial that oil is going to come back in a year, we’ll just roll along on our HELOC until then, keep going to stampede, expensive dinners out, drive the boat out to okotokes, keep paying on the Super Duty. (property assesments still high to keep taxes rolling in). *shrug* hard to predict these things, people defy logic in financial decisions, even a tiny bit of restraint or research seems out of the reach of people? Classic house denial from years past, good job on the cbc chat, #thetruthhurts I guess? stupid hashtags!
——————————————————–
I just read a RE agents comment on FB that he sold 3 houses in one day.
Looks like the party will keep going until interest rates rise.
My house in Ottawa after owning it for 40 years is same value after inflation as when I bought it. Not so my RRSP and other investments. They are well ahead of inflation with real significant gains. I know I lived rent free but my maintenance costs,taxes and capital improvements have been significant. I have learned people are not willing to share their financial initiatives and successes or failures. Even worse less likely to change their ways. The truth always hurts but must be told. You can lead them to water but can’t make them drink it. Keep up the good work GT. An excellent site to check real value is Bank of Canada’s inflation calculator. http://www.bankofcanada.ca/rates/related/inflation-calculator/
@ Floppy
wherever i lived east end was always dodgy part of town. just coincidence i guess…
theory prevailing winds is accurate to some degree, especially when you build barn or chicken coup. pity the neighbor down the wind.
From Rob Carrick’s twitter: https://twitter.com/rcarrick
http://www.fpsc.ca/docs/default-source/FPSC/projection-assumption-guidelines-2016.pdf
To be honest I would love to find the real Susan.. as I would bet a kidney that she has a tie the RE industry and was a plant. Paranoid.. maybe.. but then again look at MAC Marketing scandal in YVR… it’s not like its a new idea. Feed the masses what the ‘haves’ want them to hear.. simple as that. I used to worry about those that will get destroyed when the asset bubble bursts but now I am like “you saw it coming for years…”
TRUMP 2016!!!!!
CBC Radio has slowly descended into something unlistenable.
If you don’t frame your argument in the feminist perspective for CBC, you’re doomed. Throw in a bit of anti-man and you’re golden.
Garth would have done well to say “well… you do know that women are the largest growing demographic of home owners, this explosion in condos has been narrowing the gender independence gap in our society. But greedy, traditionally male investors are driving up the prices and making it aggressive, risky and unaffordable!”
#211 shawn on 07.13.16 at 10:38 am
Canadian Banks facilitate unethical tax avoidance
#194 jess on 07.13.16 at 8:09 am described
how div-arb slashes taxes
*******************************
Canadian banks have long had huge operations in tax havens including the Caribbean and the channel islands (Royal Bank). It’s unethical at a minimum. I know it, they know and god knows it. And one of these days the tax man will know it and maybe even deem it illegal the big Canadian banks will regret it a lot. My opinion.
++++++++++++++++++++++++++++++++++++
Goldman Sachs and HSBC get “Fines” for destroying a trillion dollar RE system and money laundering. Banks are immune from prosecution. Until they are not.
Hey Garth, now you know how Noah felt. Sucks to be right.
oh my gosh really? so when the caller comes with loaded questions evidently expecting confrontation and gets any push back that person is immediately a sexist?
WOW! hah! ahahhaa. OHHH MAN. and this my folks is why the millenials are just going to be part of the herd.
#225ROTFL-only in the Orwellian world of 2016 would simple, logical observations that GIGANTIC chinese money has moved the Vancouver RE market be classified as “prejudice”. Some people like the result, some don’t-lots of “white” Canadians have literally hit the lottery because of the Chinese money-these hosers are really “prejudiced” and really happy.
I don’t think you have to see gains ahead to necessarily make the call between buying and renting. I agree that certain property markets are nuts, but buying a home still makes sense for many people in many cities. I also want to point out that renting is almost always a pretty decent and risk-free option, provided you are saving and investing excess cash.
Our friend in Saskatoon (not Winnipeg) could have a compelling case for buying a home.
First off, they plan to live there for some time, so whether they are buying at a “top” or a “bottom” in the market, isn’t really relevant.
Second, assuming they are preparing to start a family they are probably looking at a house that is bigger than their current living arrangements. This is important for when we are going to compare renting and buying.
Third, they already seem to have a budget where they can save a substantial portion of their salary. These aren’t people using debt from mom and dad to afford a lifestyle they aren’t prepared to support themselves. Furthermore, it could mean that they are able to pay down their house and not rely on home equity (which makes you even more vulnerable to hikes in mortgage rates).
Fourth, from the sounds of it, the cost of a mortgage/home seems pretty competitive with renting. They pay $1200 a month in rent and if they could get a 5-year fixed mortgage rate at 3%, they would pay $800 in interest every month (0.03*400000*0.8/12). That leaves $400 a month in house-related costs (maintenance/taxes) before they break even. And this is presumably for a bigger space than they are currently renting. Of course, they will also have to pay a “forced” savings of $800 a month as well (the other half of the mortgage payment), but it seems they are pretty disciplined already.
Finally, the decision will hinge on their personal circumstances. Let’s say they earn 75,000 after tax, which is $6,000 per month. Their mortgage payment would then be $1600 a month, plus say $400 for other house costs. At a 33% debt-to-income the home seems affordable. What we don’t know is what they do for a living. If they both have stable or at least sought after jobs, then it could very well make sense to own a home. If their jobs are volatile, then it probably doesn’t.
This is the analysis more people need to do themselves. You’re correct in saying that financial literacy is frighteningly low and too many people believe a house is their right, not a privilege to reward people who save and have stable jobs. But it is equally incorrect to say renting is the only option, something I think that the opposition relies far too much on.
Only people who want a house should buy a house. If you don’t want to own a home, save your money and invest it for the long-term. Often you will achieve far superior results than the housing market. If you do want a home, follow the analysis above to see if you can afford one and if your job can support one. If you can’t, keep saving and starting looking for a better job!
I agree with #25 Frank. Hair in your dander is a bit dated. But my dad still calls stuff “gay” when what he means is “dumb” so it doesn’t hurt to take those kind of phrases with a grain of salt.
Really though, I thought it went rather well, and Garth gave out Good Advice, while being very composed throughout the segment. Not sure why those women decided they had to pull one sound bite out.
Is “hair in a dander” even an expression? I haven’t ever heard it (too young) and Google only tells me about “get your dander up,” which appears to be a non-gendered expression.
Sin Vancouver,
No asset bubble in Toronto. Lotta Millenials coming along with family money. No problem for them to carry a $500,000 to $600,000 mortgage after mom and dad front them $300,000 to $400,000 as a down payment, and then cover a missed mortgage payment here and there for them. Lotta wealth in Toronto. More than enough to keep 250,000 sfhs afloat. Don’t kid yourself.
Oh so I hear you’ve met the “new left”!? When your ideas make them feel bad, being ill-equipped to debate intelligently, they call you a politically incorrect hater and generally attack your character and reputation. You should hang out on university campuses and get your mind right!
So, someone was upset that they didn’t buy a house selling for 600 grand 6 years ago and now it’s “worth” (I use the term worth quite jokingly) 900 grand. Well, so what? If you bought 600 grand worth of CAP REIT, symbol CAR.UN only 3 years ago it would be worth about a million and that’s not counting the generous distributions it would have paid out in that time. Housing isn’t the only game in town, but right now it’s one of the most risky ones. It’s right up there with some stocks listed on the Vancouver Stock Exchange. Speaking of Vancouver…..
CBC peeps just don’t understand you, Garth.
But I do.
You are the epitome of sugar and spice.
Sugar as evident in your running of The Belfountain General Store. Your painstaking renovation is a clear demonstration of your feminine side where sweet treats adorn vintage display cases.
Spice as evident in the work you do with GreaterFool muscularly parsing out an alternate POV to the established way of North American life. Your sarcastic, take-no-prisoners way does not always sit well w/peeps.
But you already know that.
BTW, what Myers-Briggs are you?
And sign?
#195 mf
What an utterly pathetic comment. who are you to tell a women what to do with her life? who are you to tell a women to procreate? again, angry little men who can’t get intelligent women too give them the time of day lash out with tired misogyny better left in the 50’s. i can’t wait for your type along with smoking man, freedom first, nelly and the rest of the knuckle draggers to die off like the dinosaurs they are.
#25 frank
great comment. and a bright light in the session pool section that has been dragged into sad little world of racism and misogyny.
Anti-western manipulation is starting to show up under Butts reign:
No need for pipelines until 2025
Trudeau cuts Alberta health funding by $22 million
Alberta will return stronger. We will not forget that. We’ll make sure the east will dry in debt, corruption and lies.
NO MORE EQUALIZATION PAYMENTS.
Yesterday, I told a guy not to get his knickers in a knot. I guess that makes me a sexist.
These ladies get all out of shape from a hair comment? What a bunch of Princesses.
#233 TurnerNation on 07.13.16 at 12:13 pm
A man expressed an opinion and lost his job.
Does the majority agree?
http://www.cbc.ca/beta/news/arts/tenors-change-lyrics-ocanada-1.3676571
———————————
This is ONLY about someone who had a job to do but failed. Message was nice, but wrong platform. This is what Twitter is for.
Pure insubordination.
I’m the type of person who looks up a new word when I come across one, always have been. This can make for a bit of a busy time when reading Norman Mailer or Thomas Pynchon, but who’d prefer the alternative?
Occasionally I come across a neologism that I just don’t get, even after probing the internet for a detailed definition. ‘Cisgendered’ is one. On the surface it appears to mean sexually typical, but whenever I see it used in common usage, it seems to carry a vague insulting undertone. It’s never a compliment or even merely descriptive, but seems typically an epithet. None of the definitions I’ve found correspond to the common usage I’ve observed. Further, pretty much every definition talks about an “assigned” gender. If I think my gender is a result of a swimming race and organic chemical processes (an assignation rather than an assignment, perhaps?), the whole definition falls apart.
“Racialized” is another one. I’ve tried to figure out the definition and square it with common usage, and I just can’t. It appears some people try to use it as a highfalutin’ synonym for ‘racist’ and others for some bizarre sociological process akin to but not quite equal to prejudice whose entire existence I’m not convinced of.
I’ve taken to thinking of people who use these words in conversation as ‘moronized.’ Must be the Archie Bunker in me.
you can’t win with the prevailing crowd/powers that be, Garth. Fundamentals do not simply support any of this housing market, whether GTA or Vancouver. Jobs are being lost, new jobs are lower pay/contract/non FTE. The major employers in Toronto are all cutting costs/jobs en masse and the industries that support them (accountants, lawyers, IT specialists) similarly get hosed. When I have my MD telling me he couldnt’ afford his own house today, I think we’re pooched. And yes, Toronto is the only city in the world that will go on and on, up and up, forever. Just like NYC. or London pre Brexit. And if you didn’t get in, you’re an idiot and if you don’t get in, you never will. If you apply fundamentals to this market, you will stay on the sidelines forever versus all the financial wizards that saw 20% gains y/o b/c they had the courage to go in.
latest report from CKNW, the Vancouver real estate pumping radio station, according to Royal Lepage Van real estate will be “27% higher by the end of the yr”. Really! and some fools will believe it.
247 Brazil ex-pat on 07.13.16 at 1:22 pm
.. “tax deductable fine” and taxpayers paying again to bring justice
david cay johnston @ tax notes
for example…” that in 2000, people making between $50,000 and $75,000 paid the same share of their income to the federal government as those making more than $87 million, and that those making between $100,000 and $200,000 were taxed more heavily than those making $10 million—a state of affairs the Bush administration called “progressive”
#258RJRT81-I support your right/decision not to have children-makes a lot of sense-don’t lump me in with the angry little men-I am an angry big man knuckledragger.
@ rjrt81
Dont wory when mf have a daughter he will change his mind.
Mr. Turner – one more updater on “Mainland Chinese” home buyers in Vancouver:
A provincial government statement that only 3% of B.C. residential sales are made to foreign buyers and that Chinese nationals represent just 2.5% of Metro Vancouver home buyers drew rolling eyeballs and laughter at the packed July 7 Asia Real Estate Association of America (AREAA) conference in downtown Vancouver.
“No. Absolutely not,” said an incredulous Byron Burley, Shanghai-based vice-president of Chinese-language juwaii.com, China’s largest foreign residential real estate search engine. “It is way, way higher than that.” Burley noted that millions of Chinese nationals use his site, which has from 3,000 to 5,000 residential listings from B.C. at any time.
“My intuition says it has to be much higher [than 3%]” said Michael North of the Asia Pacific Network Foundation, “just based on the number of people and the number of deals being done at this conference.”
North, COO of Hawaii-based Pacific Royalties, which specializes in linking North American real estate with Asian buyers, had just finished telling the conference that “a next wave of Chinese buyers” was about to crash into the Vancouver market.
Link: http://tinyurl.com/hrles8x
Slight Uppa tick of Canadians searching for Dander today:
https://www.google.ca/trends/explore#q=dander&geo=CA&d
Happy B-Day Malala Yousfazi, live long and fight those @! $#£÷ !!!
Sorry Garth, I guess nobody told you that with some women if you disagree with them you’re automatically sexist, homophobic, transphobic, misogynistic, left handed and don’t recycle.
Why? Because it’s 2016.
Screw the haters, Garth! Twitter is nothing more than a cesspool of social justice outrage looking for an outlet.
Your mistake was attacking something emotional that a bunch of people really, really, really want to believe in. Like veganism. Or anti-vaxxers. Or Crossfit. You can’t win.
Thanks for all that you do and for keeping this moister renting, debt free, living beneath my means, and investing the rest.
Hey, Bytor at # 203
If you’d be so kind as to send me a list of what I can and can not post about AND who I can and can not agree with I’d appreciate that.
I desperately want and need to fit in around here and your approval is paramount to my emotional well being.
…
…
Just kidding!
Ya putz…keep me out of your passive aggressive BS unless you have something substantial to say to me.
Former NDP strategist nails it with his analysis of the 3 weeks of Liberal ‘foreign ownership’ data. The Liberals have some explaining to do this election as the electorate is full of angst on housing.
——–
“Chinese foreign investors are buying up homes equivalent to the value of nearly all new housing stock being built in Metro Vancouver — creating skyrocketing prices that are driving local residents out of the market.
That conclusion is easily drawn from last week’s B.C. government release of new statistics.
While woefully inadequate, the numbers still show that almost all of the new supply of housing built each month — as measured by building permits — effectively disappears from the market as Chinese buyers scoop up an equivalent dollar value amount of residential property.
The Metro Vancouver ramifications are enormous.
Insanely high housing prices, up 32% this June over June 2015, for an average price of $917,800;
Phenomenally low rental housing vacancy rates that mean rents are going through the roof, with Vancity Credit Union reporting young workers are being priced out of the Vancouver rental market.
And, finally, development and a home construction industry nearly totally dependent on Chinese foreign sales to prosper.
B.C.’s numbers covered only three weeks of data — not definitive and dependent on voluntary disclosure.
Regardless, they show that from June 10-29 the value of Metro Vancouver house sales to foreign nationals was $351 million — or 6.5% of the total $5 billion.
And of those, 234 out of 284 — 82% — are to Chinese nationals.
If that $351 million over three weeks is extrapolated to an entire year, the estimated value of foreign residential sales would be $6 billion.
Compare that to the value of new building permits per year in Metro Vancouver — roughly $6.5 billion in 2015.
That means that 92% of the value of new building permits in Metro Vancouver each year is being sold to foreign nationals — most from China.
Pointing that out is not racist — it’s a factual observation based on the B.C. government’s own data.
Is it any wonder prices are going through the roof?
So forget the nationality of home buyers and ask why anyone would let another country’s citizens make their homes unaffordable so foreigners can make windfall profits.
Ridiculous? That’s why I repeat my call for a six-month ban on the foreign purchase of B.C. homes to find longer-term solutions and stop the insanity.”
What a sad, misguided, obsessed bunch of people. — Garth
One house sells for two millions does not mean that every other house on the street will receive a similar offer if put on the market today so not everyone’s house is now worth 2 millions because of that sale.
There are only so many greater fools!
Your house is worth what somebody is actually paying for it, not what the neighbour got for his.
“only in the Orwellian world of 2016 would simple, logical observations that GIGANTIC chinese money has moved the Vancouver RE”
How is it ‘logical’ when nearly all available evidence points to little to no ‘Chinese’ participation in Canada’s RE marketplace. Foreign transactions are only 5%, and most of those transactors are US citizens. Additionally, we have a perfectly logical explanation for what’s happened in Toronto/Vancouver, and that is, enormous amounts of subprime credit, and more recently, a dramatic change to the sales mix.
Garth,
Are these people actually out there? You could probably tackle these people out of the way of a speeding bus and they would just accuse you of assault before they ever thanked you or admitted they had no right standing there.
Stay safe, sir, it’s a crazy world out there.
Cheers
Josh
rjrt81 on 07.13.16 at 2:32 pm
#195 mf
“What an utterly pathetic comment. who are you to tell a women what to do with her life? who are you to tell a women to procreate? again, angry little men who can’t get intelligent women too give them the time of day lash out with tired misogyny better left in the 50’s. i can’t wait for your type along with smoking man, freedom first, nelly and the rest of the knuckle draggers to die off like the dinosaurs they are.”
Wow! What a stereotypical feminazi.
Would I be wrong to assume that you are plain, single, overweight and share your basement suite with a cat?
@274 Metaxa- I’m just concerned for your health old fella… wouldn’t wanna trigger your heart attack.
BTW, you should look up the definition of “white knight”. Suits you very well.
In business, a white knight is a friendly investor that acquires a corporation at a fair consideration with the support from the corporation’s board of directors and management. This may be during a period while it is facing a hostile acquisition from another potential acquirer (black knight) or it is facing bankruptcy. White knights are preferred by the board of directors (when directors are acting in good faith with regards to the interest of the corporation and its shareholders) and/or management as in most cases as they do not replace the current board or management with a new board, whereas, in most cases, a black knight will seek to replace the current board of directors and/or management with its new board reflective of its net interest in the corporation’s equity.[1]
”Gold down $24 an ounce yesterday. A volatile, speculative asset wholly unsuitable for most people. — Garth”
‘Most people’. Couldn’t agree more.
#207 Tim on 07.13.16 at 9:54 am
I don’t get it…what’s wrong with being sexy?
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That’s sexist, sexist Mr. Tufnel.
Don’t let ’em get you down, Garth. People will say anything to avoid having the real conversations.
Sorry I missed the CBC interview.
I did however, have the same conversation with an acquaintance that she seems to start every time we see each other:
Are you still renting? (said with a look of disdain)
Yup!
Aren’t you going to buy again?
No.
Why not?
Why would I? I live rent free from the proceeds of when I sold.
Thats impossible.
If you say so.
(Meanwhile, they’re living in a poorly maintained semi that they bought for less than 200K, could easily fetch close to a mil, and want to buy something bigger “for a garage”)
@Metaxa-
Nice try. How’ bout a definition from this century?
#6 For those about to flop… on 07.12.16 at 7:48 pm
Today’s stray thought at work….
Why is it that in most ,if not all of the cities I have lived in does the East side of town get the rough end of the pineapple?
Some of you guys must live in the East side of your city/ town and it must be nicer than the West side of town?
Or is West always best…
M42BC
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Generally speaking, West is always best in any city in the northern hemisphere. Why? Because the prevailing westerly winds blow from, well, the west. Meaning you’ll find most industry (industrial sectors) physically located in the eastern portions of the city (or subsequent residential development being undertaken to the west) so as to minimize the blowing of polluted air into areas where there exists concentration of humans eating and sleeping. Simply put, residential areas want to avoid being downstream from industry.
Having said that, cities grow. In the case of the GTA, often areas that were once considered eastern are now considered centre as urban sprawl has taken residential development into territories to the east of industry.
When everyone is naked, running in circles and chanting…yep, time to step out from the party.
Always sober opinion in the quiet, empty pub just around the corner.
Good counsel as always, Mr Turner.
#258 rjrt81
Dissing #195 MF?
If you were paying better attention on this blog, you’d realize he’s a millennial, not a 1950s “dinosaur”. I’ll leave it to public opinion to decree who has the more pathetic comment…..
I think Garth is bang on. I wish I had taken his advice years ago. I would be much much wealthier than I am now. You young whippersnippers don’t recall 1989 when house prices halved and interest rates were in the high teens or even twenties. Chances are you weren’t born yet or were very young at that time. You young ones are also listening to real estate agents who are your age who have never experienced a real estate market crash nor interest rates higher than, say, 5%. Interest rates were 12% when I bought my first house. When I renewed my mortgage at 8% a few years later I thought I was getting a bargain. Imagine that – thinking 8% is cheap money! Believe me what Garth is talking about has happened and can happen again.