Scary

scary-modified

As suggested, stock markets rose Monday on the clear expectation Trump is toast. Which he is. Republican leader Paul Ryan abandoned The Donald after the weird debate. Billionaire Warren Buffet released his tax data, to shame the presidential nominee (who doesn’t pay tax, apparently). And Trump himself says if more tapes emerge of him being a Neanderthal (they exist) then he’ll go after Bill Clinton, who isn’t running against him.

Meanwhile, from time to time, there are days when I seriously consider shuttering this pathetic blog. Yesterday was one of them. The comments section was worthy of the National Enquirer. It was embarrassing to give voice to so many who see politics as a game of blame, revenge and retribution. Trump has stirred the loins of the disenfranchised, the disentitled, the envious and the wanting. That such anger exists is a serious social issue and needs to be addressed. Electing an inexperienced, deeply flawed bigot who publicly promises to jail his opponent, like a dictator, is no solution.

Both candidates are substandard and unworthy. But one, Mr. Market says, is a lunatic. And he’s unelectable. If that turns out not to be the case, you might want to take November 9th off to play with your dog.

$   $   $

The battle for freedom of information in the real estate business continues. Weeks ago the ‘Just Sold’ report, which informs subscribers (for free) what all MLS listings actually changed hands for, ceased publication after evil, meanie lawyers for the real estate cartel told it to quit or have its furry derriere sued off.

The feisty little journal is not calling it quits quite yet. On Monday night it send out this message to its followers:

“Since we were compelled to suspend publication of the Just Sold report I have received 1,000’s of emails from subscribers. Most of the messages have been supportive and encouraged perseverance. Some recommended “fixes” that we are not able to implement.

“As many of you know, this is yet another chapter in a saga that has been going on for a decade. In the intervening years, millions of dollars have been expended on legal fees and court cost to bring a resolution to the issues involved in disseminating listing data. The principal proponent of the cause to bring openness and transparency to the real estate marketplace has been my lawyer and friend Lawrence Dale.

“The final chapter in this quest will be written by Canada’s Federal Court of Appeal in THE TORONTO REAL ESTATE BOARD v. COMMISSIONER OF COMPETITION. The appeal is scheduled to be heard in Toronto on December 5 and 6.”

TREB appealed a federal decision forcing it to effectively share data with the public by allowing its members to publish it at will. That would see Canada developing sites similar to Zillow in the States, where open transparency exists. Potential buyers can see previous listing and sales prices of a property, days on market, property taxes, prices increases or reductions, plus compare the value of any listing with all of the other houses on the same street, or the entire city, for that matter.

The Toronto Real Estate Board has threatened to cut off any dues-paying member who shares this info in a broad public sense, only allowing it to be passed on (in limited form) to an agent’s current client. To date the only Zillow-type service in Canada, which freely shares almost all MLS data is Viewpoint.ca, operating in Nova Scotia.

If you have an opinion on this, you might want to share it with Larry Cerqua, who runs TREB, the largest (and most secretive) real estate board in North America. Here’s his email: [email protected]. Now, wasn’t that a Trumpian thing to do?

$   $   $

Here’s an update for you on the fallout from Will Bill’s mortgage madness launched barely more than a week ago, now rippling its way through the nation. The share prices of monoline mortgage lenders and the companies behind them have been whacked on the market, and it’s estimated up to 40% or even half of the business they finance will not qualify under the new rules.

The implications have been swift. Brokers have been told many of their financing partners will no longer back loans for residential rental units,  to self-employed, stated-income clients, or to anyone wanting a mortgage with an amortization of more than 25 years. And that’s quite separate from the moister-killing ‘stress test’ requiring everybody seeking mortgage insurance to qualify at the 4.64% Bank of Canada benchmark rate, rather than the much lower contracted one.

Anyway, chaos has broken out, joining the shock and misery already on display. This, we hear, has not been lost on the Ontario premier, who may well delay announcing a new GTA version of BC’s Chinese Dudes tax. Delayed. Not dead. You still have time to bail.

152 comments ↓

#1 For those about to flop... on 10.10.16 at 8:27 pm

My axe darts teammate Ross Kay just emailed me and said he didn’t get any sleep last night and as a result will be too tired to play today.

Apparently he was waiting to see Mark critique his segment on This week in Money ,but it never materialized.

The sport we play is dangerous enough since Mark is involved but I draw the line at playing with an insomniac.

Maybe Mark Is still typing and he hasn’t slept either?

Go to sleep Ross,I will sort this out for you.

After all , I want to see a crazy guy with an axe to grind that is not sleeping properly,I will just get on a party bus with Donald Trump…

M42BC

#2 pathcontrolmonk on 10.10.16 at 8:31 pm

Happy Columbus Day!

#3 For those about to flop... on 10.10.16 at 8:31 pm

In my desperate attempt to get away from all the house pumping going on with Vancouver television the last few years I have found a great alternative in watching Komo or King 5 in Washington state to keep up with the news.

The trade off is you get an unhealthy dose of American political news.

I was watching King 5 last night after the second train wreck(debate) and I like how these stations seem to give a more unbiased coverage than their national counterparts.

So if you live in B.C and want a more balanced coverage maybe try one of these stations and as with all my suggestions on here, I back it with my normal money back guarantee…

M42BC

#4 Junior on 10.10.16 at 8:36 pm

I understand these measures are targeting Vancouver and Toronto but do you think the prices will be affected also in Edmonton or Calgary? Thx!

#5 toronto1 on 10.10.16 at 8:50 pm

about Trump…. he did well at the debate– i think he has a lot of steam behind him, either way it will be close– many people will never publicly state they will vote for him but behind a private curtain they will.

Social media today makes election cycles much different, people are quicker to act and react then ever before. Back in the day, unless job loss or economic problems where better hidden and confined to your circle of friends at work/gym/church/family. Today with FB and Twiiter etc.. not uncommon for people to 3-4-500 plus “friends or followers” so positive and negative news travels faster. Negative is what gets the traction.

The US is broken economically, people are at the point where they put Trump within distance of the white house, a vote for Trump is not really a vote for him but a big you know what- starts with and f…..ends with a K to the establishment. A shattered political system

The 15% tax is coming to Toronto, no doubt about it. but the window is closing…… if sales crater and drop heavy in the next 2-3 months, it will be much harder to drop that bomb. Either way, whats left of HAM money is now out of the market, the prospect of such changes, aligned with capital gains taxes etc.. makes it a fools game.

The mono’s will survive, albeit in a much narrower market place- they will find their niche, they always have.

Find it amusing that all this talk about Canada’s prudent lending practices, well qualified buyers, housing priced to infinity and beyond etc…. and everyone is scared about stress testing mortgages, people will go bankrupt by a 200 basis point stress test etc… when the tide goes out will see who is naked.

i give wild bill big respect, the changes he introduced are a tough thing to do, but the right thing to do for future generations- it had to be done

#6 Ray Skunk on 10.10.16 at 8:51 pm

Crooked Wynne cowarding her way out of something in the interests of self-preservation and reelection? Say it ain’t so!

#7 Jungle on 10.10.16 at 8:51 pm

Don’t shutter this blog. However, I would at least take advantage of the traffic and run some adds. Nothing wrong with getting paid for your time you put in.

Comment sections are always going to be wash but look at how many comments you get.. almost as much as the CBC sometimes!

#8 Yuus bin Haad on 10.10.16 at 9:01 pm

Why can’t people think or say what they want to Garth? It doesn’t impede my ability to maintain an even keel; in fact, it may even help – remember: they’re the competition.

#9 Tiger on 10.10.16 at 9:04 pm

7 in 10 Americans have less than $1,000 in savings

http://www.usatoday.com/story/money/personalfinance/2016/10/09/savings-study/91083712/

#10 Jack on 10.10.16 at 9:06 pm

DELETED

#11 bsallergy on 10.10.16 at 9:07 pm

Sad to say a lot of your commenters are trolls, doomers, gloomers, and seriously trump afflicted.

#12 Jack on 10.10.16 at 9:08 pm

DELETED

#13 Maga on 10.10.16 at 9:08 pm

The mainstream media, in their excessively biased coverage of the election has made Trump the underdog. Everyone loves an underdog. Trump is no where near as bad as the media make him out to be. I mean seriously, a “fascist”, a “racist”, come to think of it all the -ists that can be found in the hysterical Huffpo. It’s going to be close on election night. Trump has a great sense of humour and irony as opposed to the shrill, humourless left.

#14 M on 10.10.16 at 9:11 pm

“tza Donald” will be the next prez. It’s evident from about 2000 miles away .

..get used to it…

#15 Smoking Man on 10.10.16 at 9:14 pm

Trump has stirred the loins of the disenfranchised, the disentitled, the envious and the wanting. That such anger exists is a serious social issue and needs to be addressed.-Garth.
……………………………………………

Exactly!

I want him to win just so I can say, I told you so and cement the Smoking Man legend who called it from Day one, people thought I was nuts, image that.

In reality, if Trump wins I’m doomed, the wife won’t get her casino fix three times a week, and she will be hell to live with. I’m taken a charity gig back at the old tax farm for a month or two cause I like the trader I’ll be helping, the fact that she’s’ hot has nothing to do with it :)

But some super high paying gigs in NYC are knocking on my Door. I need a TN Visa. Trump will destroy that, I refuse to work for an hourly rate that doesn’t have 3 figures. with T2 opening up the floodgates to TFW well working in my field in Canada, the rates are going to get crushed.

Then I’ll be forced to become a full-time writer and those gigs don’t pay squat. Especially when you’re a beginner like me.

But I really should get treatment for my low boredom tolerance, my anarchistic tendencies and my mortal fear of saying no to a woman I adore.

Imagen wanting to toss out a great living out the window just so I can say I was right. Which forces me to write.

I have issues….Carry on Dogs.
Go Trump.

#16 Bytor the Snow Dog on 10.10.16 at 9:17 pm

Another month until the circus ends. Thank Dog.

#17 Ron Checkel on 10.10.16 at 9:20 pm

No Comments yet? Have you finally shut them off Garth?
Found them mildly entertaining…….majorly pathetic……

#18 Freeman on 10.10.16 at 9:21 pm

SCARY? Check this out for scary: http://www.zerohedge.com/news/2016-10-10/chart-give-citi-chills It compares the market today to the chart of 1987 just before the 24% crash. (I don’t think any crash is coming, but that chart is scary).

Hurricanes are scary, and if you want to see the winds of the world in REAL TIME, then check this site out, it will show you the winds all over the planet, ‘LIVE’.
https://earth.nullschool.net/
(You can zoom in and out on any part of the world you want.)

Good news: THANK GOD Trump is NOT going to win, Garth’s just going to love that news !

#19 Lol on 10.10.16 at 9:24 pm

Lock her up!

#20 Long-Time Lurker on 10.10.16 at 9:25 pm

First!

Hi, Garth. Long-Time Lurker here.

I appreciate this blog that you write. I’m regularly being educated on financial issues relevant to Canadians. I don’t follow your same financial strategy but I do respect and appreciate your perspective and approach.

When did Canadians get so rude, eh?

Thanks for all you do, Garth!

Long-Time Lurker.

P.S.

If you want to reply leave it in the comments. This is my anonymous e-mail.

#21 OttawaMike on 10.10.16 at 9:29 pm

Unfortunately I turned off the television before the duet last night:
https://www.youtube.com/watch?v=jB2zoidUeLU

#22 Brian Ripley on 10.10.16 at 9:31 pm

I updated my Employed Chart:

http://www.chpc.biz/earnings-employment.html#Rate

The 15 years of age and over seasonally adjusted (SA) Year/Year change in the level of employed persons in:

Calgary dropped 4.1%
Toronto it’s down 1.9%
Vancouver it’s up 4.5% (lots of projects still underway)

the NOT seasonally adjusted numbers are:

Calgary down 3.7%
Toronto down 2.1%
Vancouver up 3.9%

Meanwhile the unemployment rate (not SA) in Toronto ticked up 1.3% Y/Y but in Vancouver it’s down 11.7% Y/Y and in Calgary it’s up 40% Y/Y (no typo)

If real estate asset prices drop under the pressure of the ongoing commodities sector downtrend, the competition for income is going to heat up. Only income or liquidation can turn debt into equity.

Check your resume and your balance sheet.

#23 Fluorine on 10.10.16 at 9:32 pm

Yeah… the comments yesterday were a bit rich.
Luckily, there were a couple of good links I had missed amidst the crap.

I also liked the blog post, even if it was slightly tainted by US politics. I followed you on Twitter, so I don’t have to keep reloading the webpage.

Keep up the good work!

#24 Brokers and useless realtors on 10.10.16 at 9:32 pm

Garth I’ve already sent an email to the TREB. On you next blog can you post the Ontario premier email to make it easy for the lazy. I’M going to look it up Its a huge mistake to lose all the tax revenue by not taxing the forginers

#25 MF on 10.10.16 at 9:36 pm

#205 Karma on 10.10.16 at 7:43 pm

“And you’re wrong, the polls for brexit were too close to call within the given margin of error, and slightly ahead for leave about a week prior to the vote, only to go lower after the slaying of Jo Cox. So no, the polls weren’t equivocally pro-brexit.”

I disagree. We were “assured” by the market in the days leading up to the vote that Stexit was almost 100% assured. You will recall that the market went down immediately in the “shock” of a leave vote. Why did it go down if everyone figured it was too close to call?

“Hillary may be the status quo, but Trump’s ideas will hurt the working poor even more than Hillary. It’s like those idiots in the “Little England” who think they’ll be richer with Brexit. Well, how is that GBPUSD or GBPEUR doing nowadays? So much richer, aren’t they.”

It’s not just Hillary, it’s a continuation of failed Obama policies. Also, after 8 years of rule there is always a political fatigue that sets in as the population looks for change (we voted in the drama teacher on this and nothing else). People are underestimating that factor.

As for Brexit, are you serious? First off, I thought these moron economists and central bankers said a lower dollar/pound would help exports?? Isn’t that one main reason why interest rates are at emergency levels (still)?

We were told that even if our purchasing power gets destroyed, dangerous asset bubbles develop everywhere, interest paying investments that we depend on pay zero..even after all that we were told our exports would give us a boost at least…Are you saying that was a lie??

Doesn’t that mean London real estate will also go down in value since it was in mega bubble territory like the rest of the western world as well.

Lastly, Britain just saved itself from the going down with the EU, which is a failed entity in all forms. It was a great move.

I see zero negatives with Brexit.

MF

#26 Smoking Man on 10.10.16 at 9:39 pm

#10 Jack on 10.10.16 at 9:06 pm
DELETED

I can tell you something with absolute certainty that Jack ain’t the same Jack who runs Twitter. Or who hides in my back yard bushes.

The first Jack banned my most favourite gay man in the universe. And he has shaken up college campuses, on his tour. Forcing minds to think for a change rather than let those minds be trapped in a narrative, an ugly painting that they are not allowed to criticise. or face the consequences.

Imagen that, an outsider coming to class and actually teach for a change. I Love it.

Milo Rocks!

#27 Baffled on 10.10.16 at 9:39 pm

My neighbours house went on sale two weeks ago at $650k now it’s gone up to $820k. Is this just to squeeze the last out of this bubble before it bursts?

#28 AR on 10.10.16 at 9:40 pm

Is that a pic of last nights debate? Donald – the orange intimidator…

#29 Vancouver Troy on 10.10.16 at 9:40 pm

The left calls Trump’s comments about women disgusting while Obama pals around with Jay Z who makes millions writing songs about sexually abusing women.

People are so sick of this kind of hypocrisy that they are voting Trump to send a message.

I totally understand why Trump supporters feel this way.

That was deep. — Garth

#30 Vlad on 10.10.16 at 9:43 pm

Garth,

After your remarks read yesterday’s comment section. Please pay no attention to unhappy people who are looking for scapegoats in their lives. I don’t think they represent your readership. Or disable anonymous comments.

Vlad

#31 Victor V on 10.10.16 at 9:44 pm

Unlicensed foreign agents leverage lax regulation to sell B.C. real estate

http://www.theglobeandmail.com/news/world/unlicensed-foreign-agents-leverage-lax-regulation-to-sell-bc-real-estate/article32316302

#32 Harbour on 10.10.16 at 9:46 pm

Main Stream is scared of Trump, they don’t want their apple cart upset.

I have never seen so much time on CNN, FOX, etc… all over the internet trashing Trump.

It’s hilarious

#33 sources? on 10.10.16 at 9:54 pm

Where do you here that Ontario is going to introduce the chinese real estate tax?

I mean, are you just fear mongering? Or do you actually know reliable people who said it is coming? Or at least, was seriously being considered and would have been announced this week?

Everything here is suspect. — Garth

#34 Smoking Man on 10.10.16 at 9:54 pm

#18 Freeman on 10.10.16 at 9:21 pm

Trump is going to win. 100%

God who I hate and want to debate badly , said to me the other day when I was off the rails hammered in the back yard screaming at the prick, he laughs, finds me funny and want’s me to become a full-time fiction writer.

See how bad the bugger is, knowing that it doesn’t pay.

A Trump win leaves me no other choice. I’m not working for Canadian traders that I’m 10 times smarter than for under a 100 bucks an hour, while they take home 4 or 5 million.

I make way more than them doing my own thing, but I can’t bring it back here to enjoy it. That’s for retirement in a country with no extradition treaties.

#35 slick on 10.10.16 at 9:55 pm

Trump has money, fame, and power.
and he leveraged that to hit on women,
and make disparaging, crude remarks.
Wow, I’ll bet that is the first time that has ever happened!!
What the hell good is money, fame, and power if you can’t get some female attention??
Aside from the Pope, who doesn’t do it??
I would be kind of disappointed in him if he didn’t behave like that.

I have thot all along that Donald will pull it off. I still do. People just want to see what is gonna happen next. Mind you, I hope he gets flogged. It will hurt my business and investments if he does get in.

#36 Debtslavecreator on 10.10.16 at 9:56 pm

The reaction of the large 5 banks will be worth waiting for. I think they will increase fixed and vrm rates quite a bit but sharply lower the posted rates the BofC rate is based on. Have to make their sales targets and their bonuses. What better way to do this then to deal with the rates by increasing them to 3% or so and then drop the posted down to slightly above
This way more moisters can be approved until the BofC rate is changed again
Will be interesting to watch this play out. One way or another credit is tightening so look out
Easy money days are over
RIP bubble prices
See you 15-20% lower Halloween 2017

#37 Canada and USA will win Nov 9th! on 10.10.16 at 10:00 pm

November 9th the sun will shine brightly on the USA and Canada! Whether Trump or Hillary win it, the winner will be Democracy. Let’s celebrate democracy before all else. And long live USA and Canadian partnerships because we are very important to one another, financially and democratically. As long as we have this partnership we shall thrive no matter who gets elected.

#38 bigtowne on 10.10.16 at 10:00 pm

America and the developed economies took the peace dividend for granted after World War 2 with a reasonable level of growth above today’s puny give or take 1%. After the Cold War continued to give an even better peace dividend to the western economies America stayed fairly neutral until the 90’s but even with Bill Clinton in office we kept on humming along with reasonable growth.

To bring back the loving feeling will require a serious engagement at finding that peace dividend growth factor now missing in action and replaced with major upheaval in the greater middle east and Africa.

The stabilizer we had in the Cold War era of neutrality where America contained any or most actions to a close minimum enhanced the world’s ability to generate that nice above 2% growth for decades…..a new mindset must be elected or an outsider must set a path for peace.

#39 pathcontrolmonk on 10.10.16 at 10:03 pm

Weird that so many on this blog want/expect Trump to win. Presumably they have not heard of five-thirty-eight; if the election were held today, Trump has a 13% chance of winning. But pollsters are all crooked when their numbers dont represent the reality you favor, pour some #cognitivedissonance on your turkey.

#40 Damifino on 10.10.16 at 10:11 pm

I checked out Ross Kay’s comments on “This week in Money” at HoweStreet.com thanks to a link supplied yesterday.

As usual, Ross sounds rather full of himself, but he does make some good points. The new mortgage qualifying rules represent more than a 2% increase in effective rates for new buyers.

Well yeah, we knew that… but it’s an overnight bump in rates of a size unprecedented in Canada. By far. He predicts the fallout will be huge and figures the finance minister has no idea the carnage he has triggered.

His contention is that real estate markets can not be ‘cooled’ into some kind of steady state. All past attempts to do so have failed and driven markets downward. And this downtrend swoon be a doozy.

Perhaps the “deep dive” was in fact a “shallow wade” and the subsequent quick fix will have grave unintended consequences. Interesting times indeed.

#41 Brokers and useless realtors on 10.10.16 at 10:14 pm

#5 toronto1

It is a joke how buyers are not sub prime and very credit worthy of mortgages but the slightest change and theyou sing a different tone. Mortgage brokers and realtors are useless. They lie and make up stories. Why won’t the TREB use their vast profits and take over CMHC? The market always goes UP?

#42 Smoking Man on 10.10.16 at 10:15 pm

#30 Vlad on 10.10.16 at 9:43 pm
Garth,

After your remarks read yesterday’s comment section. Please pay no attention to unhappy people who are looking for scapegoats in their lives. I don’t think they represent your readership. Or disable anonymous comments.

Vlad
…..

Interesting.

Linkedin Zero election talk. Jobs and sucking up depends on it.

Facebook a few bits of election talk. Mostly retired people that have no bosses.

Twitter all over the place. anonymous
Greater Fool same as twitter. anonymous

So ask yourself what will the magic pencil x on election day when the x’er are anonymous.

Smokey becomes a legend same day his book goes on sale.

Dr. Smoking Man
Ph.D. Herdonomics.

#43 maj on 10.10.16 at 10:24 pm

#5 toronto1 on 10.10.16 at 8:50 pm
“about Trump…. he did well at the debate”

Which part did you like best about Trump’s debate performance? When he said he’d defeat ISIS with a “sneak attack”, when he gave an islamophobic response to a question about islamophobia, when he suggested that all black people live in deplorable violence-ridden inner-cities or when he pointed out how Bill Clinton is worse then himself even though both he and Bill are cut from the same cloth.

#44 Still employed in AB on 10.10.16 at 10:32 pm

@Junior #4 Here is what my favourite Edmonton real estate blog has to say

“So, I don’t want to make people freak out or anything, but, it’s kind of feeling like it might be time to freak out a bit, when it comes to the real estate market in Edmonton. It’s taken a few days for me to really digest these new mortgage rules, and they’re a little scarier than I originally thought….When you combine the high inventory, the economy, and the mortgage rules, it could get a little ugly come November.”

http://edmontonrealestateblog.com/2016/10/market-thoughts-mortgage.html

#45 maj on 10.10.16 at 10:33 pm

Garth, one slang word may have been overlooked in SM’s post #26, unless it’s acceptable here.

It’s not. — Garth

#46 Victor V on 10.10.16 at 10:38 pm

Cottage owners may end up feeling the bite of Ottawa’s crackdown on tax-free capital gains

http://business.financialpost.com/news/cottage-owners-may-end-up-feeling-the-bite-of-ottawas-crackdown-on-tax-free-capital-gains

#47 Bob on 10.10.16 at 10:44 pm

I am in total agreement with your views on Trump, and as per the latest wikileaks it seems that the Clinton insiders felt that the only way HRC could win is if Trump won the GOP nomination, how these two came to be the only candidates out of 320 million people is a testament to how flawed the process has become.

I would like to point out, that Trump said he would appoint a prosecutor to investigate her, which would mean due process, not through her in jail as is being misrepresented in much of the media.

If I was an American I would hold my nose and vote Clinton, but it still irks me that she has gotten away with crimes that many others have not, and Trump is a shallow dimwitted narcissitic fool, neither of these two should ever have made it this far, it’s like a bad dream

#48 Frank on 10.10.16 at 10:47 pm

Ugh, I don’t like the political talk here. It brings the crazies out.

I do like something you said yesterday though and it’s something I’ve been discussing with friends. Trump won’t win but he’s going to leave a massive vacuum in the GOP and the person that fills that is going to have to recognize that there has been a dramatic shift in the American right-wing in the last 15 years. No longer is it the party energized by socially conservative issues like abortion and anti-gay marriage. Those are an after thought. This is about protectionism and globalization. The GOP party nominee of 2020 will be like nothing we’ve seen before.

#49 Rob on 10.10.16 at 10:48 pm

“Electing an inexperienced, deeply flawed bigot who publicly promises to jail his opponent, like a dictator, is no solution.”

He is promising to jail someone who broke the law. You have zero credibility on this issue and you are only exposing yourself as someone who is not emotionally equipped to hear different opinions.
Every time people disagree with you, you threaten to take your ball and go home and shut down this blog. You are a weak man and a coward.

He taught you well, apparently. — Garth

#50 jay on 10.10.16 at 11:10 pm

Garth, are credit union’s affected by the new mortgage rule’s ? I’m already seeing people asking which credit union to join to get mortgage .

#51 Foreigner in the Shadow on 10.10.16 at 11:17 pm

What are the chances of Federal government reversing newly introduced policies in regards mortgages and RE?
Are these policies already set in stone?

#52 WalMark of Sadkatoon on 10.10.16 at 11:34 pm

Anyway, chaos has broken out, joining the shock and misery already on display. This, we hear, has not been lost on the Ontario premier, who may well delay announcing a new GTA version of BC’s Chinese Dudes tax.

Wynne was never going to entertain a foreign buyer tax.

She made that clear.

http://www.bnn.ca/ontario-premier-wynne-not-sold-on-taxing-foreign-homebuyers-1.570982

#53 Dragonslayer on 10.10.16 at 11:34 pm

Please don’t shut down the blog Garth. It’s hard to get unbiased info on real estate and investment and yours is one of the few. So many of us have learned so much. You might not get much positive feedback but your efforts are really appreciated.
I agree though, the tinfoil crowd are really annoying. One of the hazards of the net- everyone gets a voice even if they’re short a few bricks.
If it’s getting to you, maybe a first step would be to make posters give their real names. That should reduce the general level of nuttiness.

#54 Ghost of Nikola on 10.10.16 at 11:48 pm

#34 Smoking Man on 10.10.16 at 9:54 pm

#18 Freeman on 10.10.16 at 9:21 pm

Trump is going to win. 100%

God who I hate and want to debate badly , said to me the other day when I was off the rails hammered in the back yard screaming at the prick, he laughs, finds me funny and want’s me to become a full-time fiction writer.

See how bad the bugger is, knowing that it doesn’t pay.

A Trump win leaves me no other choice. I’m not working for Canadian traders that I’m 10 times smarter than for under a 100 bucks an hour, while they take home 4 or 5 million.

I make way more than them doing my own thing, but I can’t bring it back here to enjoy it. That’s for retirement in a country with no extradition treaties.

Bet the farm Smoking Jimmy Boy… USDMXN 5 million at 400 to 1… you can’t lose.. go for it.. you have electric alien vision

#55 Fortune500 on 10.10.16 at 11:50 pm

Correct me if I’m wrong …

As I watch the impact of these new rule changes unfold and read the reaction on various forums and in the main stream news, most realtors, mortgage brokers and homeowners seem to be arguing that this will make it less affordable for new buyers and could shut out a quarter or a third of buyers from the market. They talk about how unfair it is for this group, but seem to act like everyone else will be unaffected.

This wont happen in a vacuum. If these buyers are really removed from the system, then ‘eventually’ house prices will reduce to meet the lack of demand. When this happens, these ‘poor first time buyers’ will be able to purchase homes. They will just be doing it at a price point that more realistically reflects their income.

Its almost like these commenters believe that suddenly a large portion buyers can be removed, yet it wont affect the prices of their own homes, or people who already are in the market.

Commenters on msm forums seem to suggest that new buyers will suffer but because they have equity that has been built up they wont. But if things drop all across the board, their paper equity will be less, which affects their ability to ‘move up’ or continue to tap those HELOCS.

Am I wrong?

#56 Doug t on 10.11.16 at 12:01 am

dont blame the masses – they have reason to be pissed – politicians around the globe are failing to represent their people. And when you look at everything that is wrong with TPTB and their skewed perspective, well we can all see where we are heading and it’s being brought on from the top down not the other way around.

Rage against the machine

#57 Vlad on 10.11.16 at 12:11 am

Smoking Man,

All mentally competent US citizens are entitled to their anonymous vote.

Nothing to do with this comment section, where it is easy to spew bile, bemoan the state of the world and place blame on others when you don’t need to take responsibility for your words.

Vlad

#58 Winterpeg on 10.11.16 at 12:16 am

Have been reviewing the last few days blog articles trying to wrap my head around the changes to mortgages/lending etc.
Question #1) Will everyone be required to report/confirm their home as their principle residence come next tax time?

#59 Benny on 10.11.16 at 12:25 am

Garth the stock market will go down if Trump wins, I know that’s your primary concern. I know a direct contact involved in the Uranium One deal and it’s totally corrupt, how you can defend such corruption is beyond me.

I knew it was corrupt years ago, it’s just now that someone has the guts to hold the Clinton’s responsible for it.

How can you defend the war that the US is waging in Syria illegally causing the migration crisis?

Yes, your stocks will go down, but it’s rather selfish view you’re holding. Hundreds of thousands have been displaced and tens of thousands have lost their lives, your candidate of choice will want to continue this.

Are your stocks more important to you than the tens of thousands lives lost and that’ll continue to be lost if the same policies continue.

I know this gets deleted.

No, I will allow your stupidity to be displayed. — Garth

#60 awsumtoon on 10.11.16 at 12:45 am

https://www.theguardian.com/commentisfree/2016/oct/10/donald-trump-so-much-fun-but-also-terrifying-to-watch

#61 Linda on 10.11.16 at 12:59 am

I can feel sympathy for the American electorate, especially those who feel & in many cases actually have been disenfranchised – certainly there have been more than a few fast ones pulled when it comes to who can vote. I fear that in their anger they may well elect Trump. It used to be that what happened in one country didn’t make much difference to what happened elsewhere, but these days it does matter & given that this is the USA the impact isn’t going to be something the rest of the world won’t be affected by.

Speaking about matters closer to home, I hope that the courts do hand down a ruling that allows transparency regarding real estate. How is it that the real estate industry has come to regard the sale of homes as something they have the sole right to control & profit from? Unless the property is actually theirs, in which case more power to them. Yes, these people are trying to make a living. However, denying access to information for assets they do not actually own is just a tad over the top.

#62 crowdedelevatorfartz on 10.11.16 at 12:59 am

Jacko

Lunatic, vitriolic, obscene ravings usually get “Deleted”.
Sometimes Banned

Apparently you’re almost as obstinately stubborn as Trump.
Well done.
Its not easy to strive that low.

#63 crowdedelevatorfartz on 10.11.16 at 1:06 am

@#49 Rob.

Last time I checked Clinton has been exonerated by the FBI. Or do you know something the FBI doesnt? Let me guess. Its your “gut feeling”.
Has Hillary been charged, and convicted in your version of a Kangaroo Court?

50% of the American public disagree with you. They’re wrong. Your right. Nice to know an omnipotent being that sees and knows all visits this blog sight.
Just curious.
Is calling the moderator names “emotionally equipped” or just sour grapes?

#64 Mr. White on 10.11.16 at 1:14 am

I have to disagree with you on the Trump as tin-pot dictator. He said he would ask his Justice Department to appoint a special prosecutor. Your average dictator just throw their political opposition into jail, not trial, no investigation, nothing.

By obstructing justice in the email and Benghazi investigation, it is Loretta Lynch, the FBI and President Obama who are acting the role of dictator. They are establishing a situation where there are different laws for us plebs and for the elites.

Trump is a pig, Hillary is a criminal.

#65 SEAN J RYAN on 10.11.16 at 1:20 am

Based on the comments over the last few days (weeks, months), closing down the comments until after the election might be a good idea. It would save you a lot of time at least. Review the situation after.

#66 Damifino on 10.11.16 at 1:23 am

#51 Foreigner in the Shadow

“What are the chances of Federal government reversing newly introduced policies in regards mortgages and RE?”
————————————

Are you familiar with the square root of zero?

#67 Metaxa on 10.11.16 at 1:29 am

350 Jay
Garth, are credit union’s affected by the new mortgage rule’s ? I’m already seeing people asking which credit union to join to get mortgage .

If it is a mortgage of course it will be subject to the new mortgage rules.

Credit Unions however are able to let out what are called loans on real property.

You aren’t going to get one however…unless your accounts in that credit union are fluffed right up, you have been a member for decades and you know the board of directors well from other civic areas.

Way less expensive than a mortgage but significantly less profit for the CU so…

#68 It's Scary...tracking a few YVR RE properties on 10.11.16 at 1:55 am

I cannot imagine what will happen to YVR RE post Oct. 17…how much worse can it get?

No moss growing on the roofs of the following properties.

Coquitlam, New Horizons area, 4 Bed, 4 Bath:

Sep 5 List Price: $928,000 after an Aug. 23 reduction of $139,200. Relisted Sep 18 at $798,000 (25% drop from the pre-Aug 23 price of $1,067,200). Still up for sale.

Burnaby, Upper Deer Lake area, 4 Bed, 2 Bath:

Sep 28 List Price: $1,450,000 after a Sep 26 reduction of $248,000 (about a 15% drop from the pre-Sep 26 price of $1,698,000). Still up for sale.

Above examples (there are more) show price reductions of 15% to 25% in under 1 month. There is nothing “sticky” about the YVR RE prices by any stretch of the imagination.

They are calling what happened to the £ in the past week a “Flash Crash” (6% loss in a day last week and today, you can exchange £1 for €1 at UK Airports). YVR RE as of late, not far behind in that in sentiment.

bsant54

#69 Metaxa on 10.11.16 at 2:11 am

So…I’ve missed Story Time for a couple of weeks…we’ve had a death in the immediate family so was dealing with that.

No need to commiserate, she was 93, weighed under 70 pounds, wanted to go for a couple of years but still…

Anyway, for those who aren’t the 1%-ers who post but for those readers who hold mortgages, can’t toss the 9-5 career but also have issues with getting traction, making the extra to save we’ve been talking about how to improve cash flow by buying a small business…my advice is a coin operated laundromat or car wash…the wand wash type not the full service needs employees type.

But there are other ways too.

I know a couple who have a van conversion and tow a copper kettle corn unit from home show to home show, set up in the parking lot and sell handmade fresh popcorn, caramel corn, whatever. He was senior level management with a local forestry company and his level of vacations, vehicles, apparent wealth has not dropped off a bit. I have no idea what he makes doing this but they are young so its not a pension supplement.

You could do this on a smaller scale, weekends only, at the Xmas craft fair circuit, the home show circuit, evenings, etc. and still keep the 9-5.

Don’t get into food trucks, hot dogs, tacos, whatever…no money in that only lifestyle. Once the cost of the kettle trailer is absorbed I’ll bet the propane costs more than the un-popped pop corn.

Second item tonight is sell what you know. Nothing cheaper than your knowledge as inventory. What have your life experiences or your company or your relatives given you that might be of interest to others?

Start by volunteering at your local Economic Development office, your church, your local Boy Scouts outfit, whatever.

Join Toastmasters and learn to hold a room, give the talk anywhere that will have you, give , give, give and soon enough if its any good they start paying you.

I recently was asked to speak to a group about planning for retirement…not in a financial sense but in a holistic, mindful sense.

Topics included “how to successfully take a nap when you aren’t really tired” and “I’m sorry honey, I didn’t get at that today, I’ll do it tomorrow”

Let them laugh, even if its at you. I did this one gratis but out of it came two contacts, one of which is moving forward on a medium size land assembly thing.

Because I’m apparently good at business plans and pushing things through civic bureaucracy, it looks like my hour or so spent speaking with old people will become so much more.

If I can do things like this then certainly you can too…I’m not special or blessed with anything more than anyone else…I just apply my thoughts differently.

#70 Mark on 10.11.16 at 2:15 am

“Garth, are credit union’s affected by the new mortgage rule’s ? I’m already seeing people asking which credit union to join to get mortgage .”

I haven’t seen any comments to that effect. In fact, it appears that these recent changes only apply to CMHC-insured subprime mortgages. The Credit Unions, anecdotally, use CMHC insurance only minimally, and are of course, highly vulnerable to the housing price collapse that Ross Kay and others are predicting imminently after a 3-4 years of stagnation experienced thus far.

If Ross Kay is correct in his claim that housing prices will easily drop 20%, and probably overshoot, many credit unions are in a world of trouble imminently.

#71 fishman on 10.11.16 at 2:17 am

Canada & United States will win on Nov 9 2016 Ya,we’ll sit around the campfire in the B.C. interior & sing Kombaya. To bad about Oct 12 2016. Drop Dead Date for the Softwood Trade Treaty. It was officially over Oct. 12 2015. 364 days of full on,no restrictions, no volume or price tariffs. Record production & profits. Huge tax returns for Christy cause the gypoes, contractors & companies have wrung every dollar. No capitol expenditures to carry over for a slow year when no more year . No winter tires, Caterpillar equip. or even that sweet F 250. The number crunchers & the wives got the millmen & loggers on a short lease. This one’s going down, probably when congress resumes in Jan. Tens of thousands of $60,000-$100,000/year jobs. Billions in $U.S. not making it over the 49th.
Hillary isn’t going to save us cause the SOB that wrote this iron clad bill is an ex Democratic Congressman from Montana that Obama appointed as Ambassador to China.
The B.C. interior will take close to 60% of the Canadian hit. We may see a complete collapse with just a few “artisanal” mills left in 4-6 years. The coast doesn’t matter cause most of the mills are gone & TPTB are shipping straight logs. Ontario & Quebec will take rest of the hit with the Maritimes least affected. La chickens are coming home to roost. Too bad Feds had to sell out for those Eastern votes. Bet they wish the lumber money tap from down south wouldn’t get turned off.

#72 Mark on 10.11.16 at 3:46 am

“Please don’t shut down the blog Garth. It’s hard to get unbiased info on real estate and investment and yours is one of the few. “

I concur. I probably have a post count by now that ranks right up there in the top few percentiles. The past 3-4 years, since the apex of the Canadian housing market’s bubble has been, not only on this blog, but also in the real world of real families trying to make decisions about RE, straight out of looney tunes land.

At this point, we need factual information (or at least some reasonable facsimile) concerning the raison d’etre of the blog, and that is, real estate and the performance of non-RE investments.

I try to read as many comments as I can. It is extremely disheartening that one poster in particular heaps abuse upon me (and others) almost every chance he gets. Even with the choice of his nickname. Lengthy extraneous off-topic threads of conversation also consume a disproportionate amount of bandwidth.

So yeah, as Canadian RE’s collapse accelerates this fall, coincidentally on roughly the same cadence as experienced in the USA 2005-2008, I’d urge people to try and pre-empt the extraneous stuff and focus on the task at hand. Self-regulation is almost always better than the heavy hand, or in this case, the blog simply closing down.

#73 Future Expatriate on 10.11.16 at 4:40 am

I like Great Britain’s solution for the Trumpfos….

It was called Australia.

I vote for Antarctica. And hey, ship Canada’s cons there too, why not. It will be an easier target to nuke when they inevitably declare war on the rest of the evil planet going to liberal hell in a hand basket.

#74 Future Expatriate on 10.11.16 at 4:44 am

And how’d you get that leaked photo from the campaign of Trump’s debate prep?

#75 Being politically correct must suck on 10.11.16 at 4:48 am

The RE Board may not want to publish sold stats for other reasons . The sold stats per agents are way out of whack as there are thousands of foreign unlicensed agents selling property that goes into the stats but can’t be attributed to the MLS.

#76 Wrk.dover on 10.11.16 at 5:32 am

Been watching CND vs UKPound on google finance since Brexit and oh boy, we are finally up one penny this week!

Had hoped to save some $ on an antique Brit car part order, but by the time our currency rocks, their prices will be adjusted upward I suppose.

#77 Kricky it's an invasion on 10.11.16 at 5:48 am

DELETED

#78 Zen Headspace on 10.11.16 at 6:33 am

The Toronto Real Estate Board has threatened to cut off any dues-paying member who shares this info in a broad public sense, only allowing it to be passed on (in limited form) to an agent’s current client.
——————————————————————-

“The more restrictions and prohibitions there are, the poorer the people will be.”

[Tao Te Ching – chapter 57]

#79 Tyson Furious on 10.11.16 at 6:40 am

Garth,
The comments here are at times interesting, boring, informative and useless. In other words essentially disparate. I am sure that if anyone is offended they can leave, respond or go to Huffpo to recover.
I enjoy hearing from the man on the street. It informs me much more than any castrati journalist can these days what with being on a PC leash and all.

A sensitive person could find your own surly responses to be ‘Trumpian’ but it is your sandbox and on occasion you are really witty.

Please stop threatening to shutter this site. It is getting old and only brings out the ass kissers. If you are serious, be a man and pull the plug.
Methinks that you and all who participate would regret it. It’s a valuable and also enjoyable forum.

Cheers-

#80 Mishuko on 10.11.16 at 7:35 am

Wasn’t it these elected clowns that allowed the banks to count rental income/self employed income at full towards your income test? Or am I mistaking this for BOC?

#81 crowdedelevatorfartz on 10.11.16 at 8:12 am

@#56 Doug t
“Rage against the machine”
********************************************

Oh I get it.
You and all the others in the Trump cheering section get to come to a FINANCIAL blog site and spew venom at anyone that disagrees with you.
Sorry Trump-ettes but not everyone in the world believes the half truths, lies and conspiracy theories posted by other Hillary haters on the internet
The Trump version of ‘democracy”

Pssst.
There’s a moon based on the dark side that the Nazi’s have secretly been building for 70 years…..Donald’s grandfather was German…….Donalds 70……coincidence?

http://www.google.ca/url?url=http://www.imdb.com/title/tt1034314/&rct=j&frm=1&q=&esrc=s&sa=U&ved=0ahUKEwiEwYWx3NLPAhVN5GMKHUS5BKoQFggfMAE&usg=AFQjCNF1S2zMYkqJ_XEdQI9-2eE1xyR1jg

Its all gonna happen in 2018…..things are gonna get Nazi.

#82 jess on 10.11.16 at 8:34 am

speaking the battle of information:
n Oxford, one of the reporters who worked on the Panama Papers is describing the main conclusion he drew from his months of delving into millions of leaked documents about tax evasion. “Basically, we’re the dupes in this story,” he says. “Previously, we thought that the offshore world was a shadowy, but minor, part of our economic system. What we learned from the Panama Papers is that it is the economic system.”

“Tax havens are supposed to be secret. Mossfon itself, for instance, only knew the true identity of the beneficial owner—a person who enjoys the benefits of ownership even though title to the company is in another name—of 204 Seychelles companies out of 14,000 it operated at any one time. The Panama leak blew open that omertà in a quite spectacular fashion. The anonymous source somehow had access to the Mossfon financial records and leaked virtually every one over the firm’s forty years of existence—handing to reporters some 11.5 million documents. By comparison the Pentagon Papers—the top-secret Vietnam War dossier leaked to The New York Times by Ellsberg—was around seven thousand pages. Harding estimates that it would take one person twenty-seven years to read through the entire Panama Papers” from Panama: The Hidden Trillions Alan Rusbridger
http://www.nybooks.com/articles/2016/10/27/panama-the-hidden-trillions/

#83 dr talc on 10.11.16 at 8:44 am

politics is a waste of time
elections are hoax management
the hoax is that you live in a functioning democracy
ask your self
if 80% of Canadians want to scrap the Morneau retroactive rules
is there an 80% probability of that happening?
of course not, the provability is zero
what’s the percentage of Canadians who want Morneau’s retroactive rules?
close to zero

#84 Vengeful TREB'er on 10.11.16 at 8:59 am

How dare you challenge our cartel, Mr. Turner!!

This message was written to your blog on a SAMSUNG GALAXY NOTE 7!!!!!

YOU WILL NOW EXPLODE IN FLAMES!!!!!

See, we know real estate and science too!

Bwaaahaaahaahahaahaahhaahhaahahhahhhaaa!!!!!!

Hmm…getting hot in here….. :(

#85 Andrew Chan on 10.11.16 at 9:14 am

Housing is a right for working families. Hence, governments have the responsibility to regulate the real estate market and weed out profiteers at home and from abroad. Furthermore, young Canadians deserve a chance to live the Canadian way of life, which includes a comfortable home, not a 500 square foot birds nest in a high rise. Property owners have children too. Think about them.

Canadians have a right to shelter, not real estate. — Garth

#86 Maj on 10.11.16 at 9:17 am

#49 Rob on 10.10.16 at 10:48 pm

Rob, there’s a difference between opinions based on lies, misogyny, racism, hatred and opinions backed by evidence. You’d be wise to do some research of facts instead of blindly believing a lying, divisive, disrespectful, violence-promoting orange clown.

#87 Randy on 10.11.16 at 9:21 am

The real question is “How long can the Fed keep these Yuge Financial Bubbles inflated for ? ” They are waiting for the Hillary Elites Bailout 2.0.

#88 Randy on 10.11.16 at 9:27 am

The key take-away is that the financial gambits–QE, zero interest rates, etc.–did not actually address the economy’s structural problems. All the Federal Reserve and fiscal stimulus policies accomplished was to prop up the corrupt, stagnant engine of debt-serfdom, rising inequality and financial fragility.

#89 Bytor the Snow Dog on 10.11.16 at 9:40 am

#55 Fortune 500 sez:

“Its almost like these commenters believe that suddenly a large portion buyers can be removed, yet it wont affect the prices of their own homes, or people who already are in the market.”

It’s because on the Internet, every man is a muscular 6′ 3″ stud, all wives are HB9’s, and they are all special snowflakes whose decision making is not to be questioned as they are immune to market forces.

@#57 Vlad- Irony much?

#90 domspaz on 10.11.16 at 9:50 am

Love your blog… been reading it for like six months religiously, but have never commented. Please keep up the good work.

I have definitely thought about my finances differently recently because of this blog.

#91 Canadian Moose on 10.11.16 at 10:30 am

“Both candidates are substandard and unworthy. But one, Mr. Market says, is a lunatic. And he’s unelectable. If that turns out not to be the case, you might want to take November 9th off to play with your dog” – GT

You mean “play with your Moose” right Garth. Its utterly amazing that in this day and age that for the most powerful country in the world with 350 million plus citizens that this is the best the 2 party system can produce. Scary like Halloween. Well even Scarier!

Oh well this Moose had a Moosefest of a Thanksgiving. Made me very sleepy all weekend. Didnt give a Moose. Just reeeelaxing on the Moose couch. Didnt watch the debate, and didnt even read this blog since Friday. Took me awhile to catch up this morning. Ha!

At least I have my priorities straight. Maybe the blog dogs should consider this. Ha ha ha ya right!

Happy Post Thanksgiving

#92 Maj on 10.11.16 at 10:40 am

For those who confuse basic human civility (kindness, consideration for others) with political correctness:

http://blogs.dickinson.edu/landishouse/2016/08/28/political-correctness-civility-not-censorship/

#93 Doug t on 10.11.16 at 10:49 am

#81

Zzzzzzzz

#94 Steerage Bilge on 10.11.16 at 11:15 am

Donald J. Trump ‏@realDonaldTrump 1h1 hour ago

It is so nice that the shackles have been taken off me and I can now fight for America the way I want to.

Oh this is gonna be hilarious.. ain’t no sewer low enough!!

#95 LL on 10.11.16 at 11:20 am

The share prices of monoline mortgage lenders and the companies behind them have been whacked on the market, and it’s estimated up to 40% or even half of the business they finance will not qualify under the new rules.

New rules? No it’s not new rules..it’s just as it was before the CHUM (or what ever) back the banks and start the free for all!

40% did not qualified? This mean they don’t have the capacity to buy a house, that’s it..
Don’t buy if you cannot!

#96 Grey Dog on 10.11.16 at 11:21 am

Andrew Chan, have you ever worked AND saved in your life for something you really really wanted?

That’s called growing up, having character versus waking up and deciding that you have a right to get what you want, when you want it.

You expect housing; go to Russia, see what government housing constitutes if one is an average citizen. I do believe you still would not be pleased with your option there.

#97 WalMark of Sadkatoon on 10.11.16 at 11:23 am

#55 Fortune500 on 10.10.16 at 11:50 pm
Am I wrong?

I’m skeptical that these changes will make any impact on Toronto real estate prices which have been trending upwards for a generation.

But you never know. I might be wrong for once.

#98 dsw on 10.11.16 at 11:24 am

it take massive cognitive dissonance to not support trump.

Hillary is a criminal. she destroyed subpoenaed evidence, tried to cover it up, and then lied about it.

the entire time since Obama has been one long criminality, starting with the TARP kick-backs.

If you want to see lewd, btw, watch the youtube video of Obama exposing himself to a female staffer. Disgusting.

#99 Sideshow Rob on 10.11.16 at 11:26 am

As expected, stock markets tanked Tuesday on the clear expectation Hillary is toast.

There. Fixed it for you.

US markets declined on the odds for a Dec. 14 Fed rate hike, now 70%. — Garth

#100 AB Boxster on 10.11.16 at 11:26 am


Canadians have a right to shelter, not real estate. — Garth

———————————————————–
Yes, but when the middle class cannot afford to purchase real estate without going into massive debt, then there is something majorly screwed up in this country.

Yes,I know. It is so 50’s to think that middle class families could afford a decent house, raise a family of more than 1.65 kids, on a single earner’s income.

We’re far more progressive and socially advanced, now that middle class families today cannot afford a reasonable home without artificially low interest rates, families require 2 full time earners to financially survive, and couples are declining to have children due to the absurd financial burden required to raise them.

Yep, Canada is back.

#101 meslippery on 10.11.16 at 11:30 am

Trump may have stirred the loins of the disenfranchised, the disentitled, the envious and the wanting.
I dont think we intentionally voted for globalization, in which the dismantling of trade barriers led to the efficient utilization of capital and labour, plus a serious lowering of overall costs.
IE: Vote our good jobs away.

#102 dsw on 10.11.16 at 11:31 am

what’s holding society back is the people that measure their success by their portfolio (a lot of people on here) as opposed to what type of society they want to leave for their children.

Trump has already won, by default, by imploding both parties. His legacy is already cemented.

I’m hopeful the outcomes will include more candidates that will support stopping 6X more money being spent on the “defense”budget compared to its education budget, particularly since a big chunk of that defense budget just goes to kickbacks.

Absolutely shameful. People supporting the status quo should be ASHAMED of themselves

#103 Bytor the Snow Dog on 10.11.16 at 11:33 am

@92 Maj-

That article was a bunch of feel good non-sense. It triggered me.

Where is my safe space?

#104 Sheane Wallace on 10.11.16 at 11:43 am

#52 WalMark of Sadkatoon on 10.10.16 at 11:34 pm
Anyway, chaos has broken out, joining the shock and misery already on display. This, we hear, has not been lost on the Ontario premier, who may well delay announcing a new GTA version of BC’s Chinese Dudes tax.
Wynne was never going to entertain a foreign buyer tax.
She made that clear.

http://www.bnn.ca/ontario-premier-wynne-not-sold-on-taxing-foreign-homebuyers-1.570982
—————–

There is one good thing in Canada and that is the lack of provincial citizenship, so if you move out of Ontario you are not on the hook for all the mess the province is in.

It is clear that Wynne will not have the guts to upset the criminal real estate cartel, she is actually ‘consulting with the people from industry’ before doing anything. But Bill’s move alone will prick the bubble.

So when this ovepriced piece of crap ‘community’ implodes it will be epic, with severity unheard of in history.

– record (the highest non governmental debt in the world and growing
– most of the debt is in USD
– shortage in pension fundings at all levels – municipal, provincial,
– just watch the future deterioration of health care. I personally have beein the US on 4 ocasions to consult specialists as the waits here are unbeleivable. The bad news is that it will get worse.
– horrable infrastructure with mostly cosmetic repairs.

And the proud owners of overpriced pieces of junk (SFH over 1.2 mil, glass condos at 600 k in GTA/Toronto) will face the music with much higher property taxes/hydro bills etc. At some point the liabilities on a piece of property drives it’s price down, in cases of some condos to zero.

Living for that moment.

#105 Sheane Wallace on 10.11.16 at 12:23 pm

BTW Attempts to drive rents up are doomed to fail as people have no money due to declining incomes (soon to decline more due to inflation of food, additional taxes/CPP increases etc)

The fact that the owners of the rental properties need/want higher rents does not matter. Ability to earn incomes to support higher rents is non-existent in GTA.

So delusional owners of ‘rental’ basement ‘suites’ hoping to get 1.5 – 1.6 k for basement ‘apartments;’ will be faced with loooooooong waits and lack of applicants.

Fun times ahead.

#106 Sheane Wallace on 10.11.16 at 12:28 pm

The ONLY country on the world where people live in basements. If you can find me another one, I will eat my shoes as Charlie Chaplin in ‘ The gold rush’.

#107 Smoking Man on 10.11.16 at 12:34 pm

WIKILEAKS: John David Podesta is the Chairman of the 2016 Hillary Clinton presidential campaign.

Probably Broke Up Blink-182 Over UFOs

http://heatst.com/politics/wikileaks-john-podesta-probably-broke-up-blink-182-over-ufos/

Disclosure this year. I promise.

#108 acdel on 10.11.16 at 12:36 pm

What I find mind boggling is that the “Just Sold” report has been fighting a good fight for a decade now. I cannot understand as to why the courts would allow TREB to have so much control over transparency. TREB is basically allowing us to be over charged therefore creating more hardships on home owners. Yes, one has a choice to buy or not but why not make it a level playing field for all..

#109 cramar on 10.11.16 at 12:47 pm

After seeing the debate (it was just locker-room talk) and then reading Trump admirers on this blog, I have to agree that this blog indeed is pathetic. I have to go hug my dog after reading.

Too bad a dog wasn’t the 3rd name on the ballet. It could actually win!

“Make America great again – vote for Lassie!”

#110 everydayreader on 10.11.16 at 12:51 pm

Please, don’t shut down this blog. Most people that read it are highly educated but these are also the ones that never write a comment.

#111 Doug T. on 10.11.16 at 12:59 pm

#101

AMEN TO THAT

#112 Believe the Unbelievable on 10.11.16 at 1:08 pm

I would love to believe that Trump cannot and will not win.

But there was Brexit. And the Alberta election. And Canada. And most recently the rejection of the public of Columbia for a peace treaty with FARC.

People around the world are in a mood. A middle finger to whoever-is-in-power mood. Trump is ridiculous and unbelievably unqualified, but un-electable? This remains very surreal…and scary.

#113 Victor V on 10.11.16 at 1:09 pm

http://www.theglobeandmail.com/report-on-business/economy/housing-starts-surge-in-september/article32316709/

Canadian housing starts surged in September compared with August, surpassing market expectations, data from the national housing agency showed on Tuesday.

The seasonally adjusted annualized rate of housing starts rose to 220,617 units in September from a 184,201 unit rate in August, according to a report from the Canada Mortgage and Housing Corp.

That was well above analysts’ expectations for a slight rise to 190,000 units.

#114 Victor V on 10.11.16 at 1:10 pm

Banks, insurers spearhead opposition to Ottawa’s new housing rules

http://business.financialpost.com/personal-finance/mortgages-real-estate/canada-banks-insurers-rally-opposition-to-new-housing-rules

Canadian banks and mortgage insurers are rallying against new government housing rules that they say will lead to higher mortgage rates, hurt small real estate markets and drive borrowers toward unregulated lenders.

The flash point for the big banks, which hold their regular meetings with the finance department this week, is the risk sharing proposal that would require the industry to shoulder a burden of mortgage defaults.

Genworth MI Canada Inc. and Canada Guaranty Mortgage Insurance Co., the second and third-largest mortgage insurance providers, will lobby the department against risk sharing in coming weeks, people familiar with their plans said.

#115 Johnny Boy on 10.11.16 at 1:13 pm

A good thing that large orange goofball doesn’t play poker.
He has been trumped! What a low life he is, not a gentlemen at all. My 76 year old mother in Florida says nobody in the retirement home can believe what he says. They all call him a pretender to the throne. Now Warren Buffett is a gentlemen.

http://www.nytimes.com/2016/10/11/business/buffett-calls-trumps-bluff-and-releases-his-tax-return.html?_r=0

#116 Johnny Boy on 10.11.16 at 1:21 pm

Wow just hearing buzfeed may have secured more Dumb Donald Tapes with him dissing out the “#” Word. Wow this misogynistic racist guy is going down in flames. He will never be able to walk into a poor section of town ever. Not that he ever would. What a complete loser!

http://www.hollywoodreporter.com/news/tapes-no-tapes-apprentice-alums-936981

#117 Not a big deal on 10.11.16 at 1:46 pm

Apparently wallstreet, the main stream media and politicians seem to think they are the only ones voting in November.

#118 isuckless on 10.11.16 at 1:51 pm

i have been reading this blog for some time, its comments and also other articles/blogs/whatever, and even listened to financial advisors.
My conclusion is that nobody has any idea what the future will bring.
I keep the balanced portfolio but that is because I lack the original thinking and have hope that I am following people who know something I don’t (most of time this turned out to be false – I will never learn obviously).

Anyway, I have great fun reading this blog and its comments although I don’t put too much in what they forecast.

BTW, USA is a Republic, not a Democracy. They are exporting Democracy but keeping Republic for themselves ;) Clever guys, I say.

#119 Brokerizer on 10.11.16 at 1:53 pm

True North Mortgage CEO interview on BNN:

http://www.bnn.ca/real-estate/video/we-re-shocked-by-new-mortgage-rules-true-north-mortgage-ceo~967257

“We’re shocked”

3rd lender making the news after First National and Equitable Group.

Starting in November, let’s see if 500k Toronto condos still attract many first-time buyer bidders…. probably not.

#120 Context on 10.11.16 at 2:18 pm

#103 Sheane Wallace: – Are the condo prices going to zero? Well if such is the case am staying away from the condos in the sky areas as don’t want to be hit by any of the jumpers.

#121 Herethere on 10.11.16 at 2:27 pm

Mr. Turner, thanks for your blog providing more than a free financial, RE, educational site. Even if unintended, some post-Thanksgiving comments, assure us that many turkeys have lived to see another day. Re USA’s election/reality TV program. Now Mr. Donald “fingers liking good” Trump, is teasing audiences with the existences of more tapes. Reality beating fiction.

#122 CJBob on 10.11.16 at 2:29 pm

#99 AB Boxster on 10.11.16 at 11:26 am
It is so 50’s to think that middle class families could afford a decent house, raise a family of more than 1.65 kids, on a single earner’s income.
___________________
Not sure of your age but I was there in the 60’s. Single car, no garage, black & white 19″ tv with antenna that got 3 or 4 channels, never went to a restaurant, had take out food brought home a few times per YEAR, a party-line phone, no air conditioning, etc. Not that I’m complaining, it was a happy childhood. But by every possible measure we are financially better off now.

#123 Mark on 10.11.16 at 2:36 pm

http://www.bloomberg.com/news/articles/2016-10-11/canada-banks-insurers-rally-opposition-to-new-housing-rules

“Canadian banks and mortgage insurers are rallying against new government housing rules that they say will lead to higher mortgage rates, hurt small real estate markets and drive borrowers toward unregulated lenders.” (emphasis mine)

So it begins. While the banks publicly are trying to speak in support of the RE market, privately, they absolutely want RE prices to fall and credit to tighten to increase the value of their paper mortgage claims relative to property, and to increase spreads through rising risk premia.

#124 Sheane Wallace on 10.11.16 at 2:40 pm

#114 Victor V on 10.11.16 at 1:10 pm
Banks, insurers spearhead opposition to Ottawa’s new housing rules

http://business.financialpost.com/personal-finance/mortgages-real-estate/canada-banks-insurers-rally-opposition-to-new-housing-rules

Canadian banks and mortgage insurers are rallying against new government housing rules that they say will lead to higher mortgage rates, hurt small real estate markets and drive borrowers toward unregulated lenders.

The flash point for the big banks, which hold their regular meetings with the finance department this week, is the risk sharing proposal that would require the industry to shoulder a burden of mortgage defaults.

Genworth MI Canada Inc. and Canada Guaranty Mortgage Insurance Co., the second and third-largest mortgage insurance providers, will lobby the department against risk sharing in coming weeks, people familiar with their plans said.
—————————–
S..t storm has started! They want more of the pie/without realizing that it is game over and there is no pie left!

It is time to disband CMHC and move all the mortgages along with the ‘premiums’ back to the ‘prudent’ mortgage underwriters.

Hahaha,

#125 Mark on 10.11.16 at 2:42 pm

“Canadian housing starts surged in September compared with August, surpassing market expectations, data from the national housing agency showed on Tuesday.”

Pretty simple explanation for this trend which will likely be strong for the next year or two — declining prices and declining margins mean that developers of housing will attempt to accelerate their production to maintain their net cashflow.

In the GTA, the bankruptcies of the residential builders, at least in Mississauga, didn’t really kick in until 1993 or so. At which time, mostly finished houses could be picked up at 30-50% off of peak 1990 prices (I don’t have a good source of data for that RE bubble, so I don’t know if there was a significant sales mix adjusted peak earlier or not — I suspect there was, but 1990 is generally acknowledged to be the peak in hindsight!).

#126 dsw on 10.11.16 at 2:47 pm

DELETED

#127 Sheane Wallace on 10.11.16 at 2:49 pm

The FIRE cancer eating this country alive…

#128 Ron Rachul on 10.11.16 at 2:51 pm

Re:
#59 Benny on 10.11.16 at 12:25 am
Garth the stock market will go down if Trump wins, I know that’s your primary concern. I know a direct contact involved in the Uranium One deal and it’s totally corrupt, how you can defend such corruption is beyond me.
I knew it was corrupt years ago, it’s just now that someone has the guts to hold the Clinton’s responsible for it.
How can you defend the war that the US is waging in Syria illegally causing the migration crisis?
Yes, your stocks will go down, but it’s rather selfish view you’re holding. Hundreds of thousands have been displaced and tens of thousands have lost their lives, your candidate of choice will want to continue this.

Are your stocks more important to you than the tens of thousands lives lost and that’ll continue to be lost if the same policies continue.

I know this gets deleted.

No, I will allow your stupidity to be displayed. — Garth

Rebuttal:
It’s been proven that Killary and her husband will sell the US down the drain for $.
http://www.powerlineblog.com/archives/2016/08/memo-sheds-new-light-on-clinton-russia-uranium-scandal.php

I guess I’m showing my stupidty also……..

#129 jess on 10.11.16 at 2:54 pm

Turkey Baron and the Chicken King

The recent takeover of Bernard Matthews will be scrutinised by the Work and Pensions select committee this week after concerns that the deal was “carefully crafted to dump the pension scheme”
…”the Bernard Matthews Pension Fund, recording a published deficit of £17.5 million, which is likely to have grown to £20 million, is likely to receive 1p in the pound at best.The administrators have already billed £790.000 and legal fees are likely to amount to £668.000.

Read Professor Prem Sikka’s briefing on the Bernard Matthews pre-pack arrangement (10 Oct 2016)

=

UK company pension deficits rise £89bn in a month
Private-sector shortfall hits record of £383.6bn in June after Brexit vote (FT)

pensions page 6 / 2013
http://www.bankofengland.co.uk/publications/Documents/agentssummary/agsum13jun.pdf

#130 Sheane Wallace on 10.11.16 at 2:58 pm

They (the ‘prudent’ lenders) are afraid..
——————-

The banks argue that Canadian mortgage defaults are so low that making lenders share the risk is unnecessary and not worth the costs. Delinquency rates in the $1.4 trillion mortgage market, or those in arrears for 90 days or more, stand at 0.28 per cent, or five times lower than those in the U.S., according to the Canadian Bankers Association.

“We don’t understand what a deductible is intended to achieve as a policy outcome,” Darren Hannah, vice president of finance, risk and prudential policy at the Canadian Bankers Association, said by phone. “If it’s supposed to be something to improve the quality of underwriting, well the quality of underwriting is already very strong.”

The Toronto-based banking group, which represents 59 domestic lenders and foreign bank subsidiaries, highlighted a deductible as its main concern in a statement after reviewing measures announced Oct. 3 by Finance Minister Bill Morneau. Representatives of the country’s biggest banks, including Toronto-Dominion Bank, Bank of Montreal and Canadian Imperial Bank of Commerce, declined to comment. Genworth and Canada Guaranty declined to comment on meetings with the finance department.

#131 jess on 10.11.16 at 3:07 pm

116 Johnny Boy on 10.11.16 at 1:21 pm

Trump has to feed the beasts
especially since there are 1600 extremists groups in usa and some seem to be whitewashing their image

eg.
https://www.splcenter.org/hatewatch/2016/10/10/montana-republicans-warmly-embrace-white-nationalists-legislative-candidacy

#132 MF on 10.11.16 at 3:11 pm

#96 Grey Dog on 10.11.16 at 11:21 am

Yeah right. Saving?

The only reason why this overvalued gasbag of a market hasn’t fallen 60% like a normal healthy market is because of socialist style government meddling.

Watch when it collapses how all the “free market” advocates will be begging for socialist style intervention to stop the pain.

MF

#133 $fromA$ia on 10.11.16 at 3:25 pm

Garth, try and keep American Politics off your blog. It’s about as attractive as being exposed to listening about groping genitals.

Try and stay on topic and fill us with your hornyness….

#134 gimme shelter on 10.11.16 at 3:26 pm

Canadians have a right to shelter, not real estate. — Garth

—-

Even pets have a right to shelter. If you work, you should have better deal than that, if that’s what you want.

#135 my house is my friend on 10.11.16 at 3:52 pm

#59 Benny on 10.11.16 at 12:25 am

Spot on!

#136 rrsp_wonders on 10.11.16 at 3:58 pm

Garth, I have a question about RRSP’s.

I currently have some cash sitting inside an RRSP, that I would like to use to buy ETF’s. However, I would like to know when I withdraw from the RRSP, do I need to sell the ETF’s first, or can I just withdraw them in kind?

The reason I am asking this is because I am currently pregnant. When I go on maternity leave next year, I think it is a good idea to withdraw from my RRSP then, and to to take the tax hit in a year when my employment income is lowest. Yet I feel it would be silly to buy ETF’s now if I then need to sell them in the RRSP, withdraw the cash from the RRSP, and then buy the ETF’s back outside the RRSP. If I have to do that, then I would just wait until I’m on maternity leave, withdraw the cash, and just buy the ETF’s outside of the RRSP in the first place.

#137 Smoking Man on 10.11.16 at 4:13 pm

Bottoms_Up

Kind of curious. What happened?
My god the arctic sea ice didn’t melt.
Must have been that Paris deal.
Good thing it was signed or we would all be under water.
Slow clap for those United Nations payrolled scientists for saving us.

Now it’s time to pay for it with T2s carbon tax.

http://www.telegraph.co.uk/science/2016/10/07/experts-said-arctic-sea-ice-would-melt-entirely-by-september-201/

#138 jess on 10.11.16 at 4:40 pm

Credit Suisse places five employees on leave over tax probe
Credit Suisse’s Israeli unit over possible tax evasion
=================
brexit

Tim Roberts, managing director of consulting firm Promontory Financial Group, said London began to rival New York as a financial centre in the 1980s because it welcomed people regardless of their nationality or gender.

??????
deregulation and screen based electronic trading

Stockjobbers were institutions that acted as market makers in the London Stock Exchange. Prior to “Big Bang” in 1986, every stock traded on the Exchange passed through a ‘jobber’s book’, that is, they acted as the ultimate purchasers of shares sold and the source of shares purchased, by stockbrokers on behalf of the latters’ clients. Stockbrokers in turn were not permitted to be market makers.[1]

Immediately prior to the Big Bang, the leading jobbing firms were Akroyd & Smithers, Wedd Durlacher, Pinchin Denny, Smith Brothers, Bisgood Bishop and Charles Pulley.[2] All of these firms were acquired after the Big Bang by a number of different investment banks and other financial institutions.

#139 Wrk.dover on 10.11.16 at 5:05 pm

As usual big news stories tonight about bad Nova Scotia rainfall damage
As usual SW Nova got 40cm.

#140 Mark on 10.11.16 at 5:08 pm

“I currently have some cash sitting inside an RRSP, that I would like to use to buy ETF’s. However, I would like to know when I withdraw from the RRSP, do I need to sell the ETF’s first, or can I just withdraw them in kind?”

You can do either. Check the service fees that your broker/custodian/trustee charges for an in-kind withdrawal. Depending upon the amounts involved, and your future intentions, there might be an applicable optimization.

When you do an in-kind withdrawal from a RRSP of securities, the cost base on those securities is that of the market valuation on the day that the RRSP trustee transfers the securities to your personal ownership.

Yet I feel it would be silly to buy ETF’s now if I then need to sell them in the RRSP, withdraw the cash from the RRSP, and then buy the ETF’s back outside the RRSP. If I have to do that, then I would just wait until I’m on maternity leave, withdraw the cash, and just buy the ETF’s outside of the RRSP in the first place.

Check the fees applicable, of course, but there’s nothing wrong with either approach. Just remember that there’s withholding tax on RRSP withdrawals over a certain level. Which would apply to in-kind withdrawals of securities as well (ie: you would have to leave some cash in the RRSP to pay the withholding if you took XIU’s as a withdrawal in kind!).

#141 Mark on 10.11.16 at 5:09 pm

“the withholding if you took XIU’s as a withdrawal in kind!”

Sorry, that should read ETF’s as a withdrawal in kind. Freudian slip :O.

#142 Camel on 10.11.16 at 5:11 pm

Well something just changed in the housing market. I’ve noticed my business went from 4-5 clients/week to 0 since the mortgage changes were announced. Our business is 100% dependent on new housing.

Now this sucks for us big time, but we already sold our real estate and are renting, better tax write offs that way. So if this market tanks, and it’s looking like it just started, we won’t get skinned.

Get ready, big time deflation is on it’s way!

#143 Mark on 10.11.16 at 5:23 pm

“If it is a mortgage of course it will be subject to the new mortgage rules.”

Vancity is still writing no-money-down mortgages, or at least advertising them on their website:

https://www.vancity.com/Mortgages/TypesOfMortgages/SpringboardProgram/

Since such loans are *not* allowed by the CMHC, Vancity, at least with that offering, is not using CMHC insurance, and is not falling under the regulation of the federal government (which long ago banned such!).

The rest of your post significantly underplays the role that the credit unions have played in this market. Perhaps this is what the banks, in the Bloomberg article, were referring to when they said, “unregulated lenders”. Many credit unions appear to be blowing their brains out in subprime at this point, and it probably will smell just like the USA S&L crisis of the 1980s as it all blows up.

#144 acdel on 10.11.16 at 5:47 pm

#137 Smoking Man

Of course it is a farce; especially when so many other countries are building coal fired electricity plants at record numbers, guess what, the planet is not warming.
The only areas that are warming are the major cities creating there own green houses gases that trap heat inside of them, scientist, special interest groups, politicians are using these numbers to justify a tax grab. I am all for cleaning up the air in major cities but that is the responsibilities of the people who live within them, municipal laws, clean water is the most important, comparing to the 60’s and 70’s, our water in most areas have never been cleaner.

Until these countries come on board, (IF) we are doomed economically, there is no way to compete against them, it is strictly another tax that will absolutely accomplish nothing but make us all poorer. Greatest foolish tax grab in history.

Stop flying, that will make huge difference; one trans continental flight equates to how many cars on the road? One large party ship, cruising to a Carnival Destination equates how many cars on the road? Party on Hypocrites!

Want to make a real difference that most of Canadian’s have suffered through, then sign the petition.

http://calgaryherald.com/news/local-news/nationwide-petition-for-cost-free-hospital-parking-hits-alberta

#145 rjrt81 on 10.11.16 at 5:48 pm

#132 MF on 10.11.16 at 3:11 pm
#96 Grey Dog on 10.11.16 at 11:21 am

Yeah right. Saving?

The only reason why this overvalued gasbag of a market hasn’t fallen 60% like a normal healthy market is because of socialist style government meddling.

Watch when it collapses how all the “free market” advocates will be begging for socialist style intervention to stop the pain.

MF

——————————————————————–

ugh. you get worse by the week. your opinions are just that. not facts like you try and pretend. you make my brain hurt.

#146 jess on 10.11.16 at 5:50 pm

137 Smoking Man on 10.11.16 at 4:13 pm

Bottoms_Up

Why not claw back the grants and subsidies when fake images are presented goto retraction watch for more examples : senior cancer researcher 13 years with this company since 5 papers retracted for manipulation

==========================
Is the Nobel Prize good for science?

Arturo Casadevall*,†,1 and Ferric C. Fang‡§

+
Author Affiliations

*Department of Microbiology and Immunology and
†Department of Medicine, Albert Einstein College of Medicine, Bronx, New York, USA; and
‡Department of Laboratory Medicine and
§Department of Microbiology, University of Washington School of Medicine, Seattle, Washington, USA

↵1Correspondence: Department of Microbiology and Immunology, Albert Einstein College of Medicine, 1300 Morris Park Ave., Bronx, NY 10461 USA. E-mail: [email protected]

Casadevall and Ferric Fang (who previously established misconduct as lead cause of retractions

===
The trio presented the results of Bik’s analysis in a bioarxiv-preprint titled “The Prevalence of Inappropriate Image Duplication in Biomedical Research Publications”, where they calculated that

“3.8% of published papers contained problematic figures, with at least half exhibiting features suggestive of deliberate manipulation”.

#147 Junior on 10.11.16 at 6:27 pm

#44 Still employed in AB – Thanks!

#148 ferditati on 10.11.16 at 6:39 pm

Hillary seems to be jockeying for a war with the Ruskies, and they seem to be taking the bait!

http://www.bloomberg.com/news/articles/2016-10-10/russian-tv-fans-war-hysteria-as-u-s-ties-hit-post-cold-war-low

The forecasts have even started

http://www.wearethemighty.com/articles/heres-who-would-win-if-russia-china-and-america-went-to-war-right-now

#149 chopstix on 10.11.16 at 7:43 pm

can’t believe the number of delusional dudes who think Trump will win…lmao…tooooo funny…time to recalibrate the meds….regardless, good CBC reporting (erik sorenson?) on this gig and the consequences for the next 4 yrs…the GOP is f**ked either way, should Trump lose (and he will)…huge divisiveness to occur with one side blaming the gop leaders for not ‘standing by their man’, alongside the others saying ‘you see, you got what you deserved and you should have ditched this dude and replaced him waayy earlier’

#150 crowdedelevatorfartz on 10.11.16 at 9:21 pm

@#128 Ron R.
“I guess I’m showing my stupidty also……..”
******************************************
Only as far as spelling is concerned.

The rest of your post is just paranioa…..

:)

#151 ChickenLittle on 10.11.16 at 10:12 pm

The minute Billary takes control of the whitehouse next year she will launch attacks against Russia in Syria. What began as a civil war will morph into world war, perhaps even World War III God help us…

#152 Treasure on 10.12.16 at 1:09 am

Don’t shutter the blog Garth! You are an anchoring voice of reason in a crazy world. We need you!