It’s here

hillary-modified

With a creepy accuracy of almost nine out of ten, the American stock market has picked the next American president since 1928. When the S&P advances in the three months prior to the big vote, the incumbent party wins. When it doesn’t, the other guy gets in.

The score so far: the market’s down. A fair amount actually – about 4% since the beginning of August. At the same time the goofy billionaire has been advancing in the polls, especially since Friday when the FBI shocked everyone, saying it was diving once again  into Clinton’s email hell. Worse (for investors with weak bladders) both camps have hired a few thousand lawyers, girding for a post-election fight. In other words, this might not actually be over next Tuesday night. Bummer.

Unless the outcome is “clear”, Trump says he might not concede. If some key battleground states are lost in a narrow vote, then Clinton might not accept the results, either – without a recount and a legal challenge. In short, the weirdest, most divisive and unlikely election in our lifetimes has the potential to turn into a giant, post-coital mess.

The Vix is spiking as a result. That’s the so-called ‘fear index’ which presages big burps ahead for equity markets. It jumped about 20% on Tuesday to the highest level since the summer on fears of (a) President Trump or (b) no clear election result. Add in a 70% expectation the Fed will raise interest rates next month, and you have a strong recipe for stress.

Markets still think Clinton will win. And she should, based on a big early-vote turnout, the fact Trump has irritated a majority of voters and the peculiarities of the Electoral College system. But remember Brexit? All the financial smarty-pants thought that vote was in the bag and Britons would never be daft enough to toss a lucrative free trade pact. But they did. Stocks recoiled (briefly) and bonds spiked. Traders scrambled to cover their wrong bets in the days that followed, and are leery of repeating the mistake.

Hence, today’s triple-digit pasting on Wall Street. Safe to say some more may follow. Despite a jump in economic growth, good labour data, recovering corporate profits and a massive machine behind her, the status quo candidate looks weak. She could hardly get rid of that pesky commie Bernie Sanders. Now she’s being run down by a guy who would separate people by religion, build a wall on the border and talks about women like a 13-year-old from juvie.

Well, don’t stop gumming your cuticles yet. There’s more. Interest rates just went up.

It’s started with TD Bank, causing panic in the mortgage broker business Tuesday afternoon with a hike in its prime mortgage rate of 15 beeps, to 2.85%. This is a big deal. TD’s a major lender. It means millions of people with variable-rate mortgages will be paying more, effective November 1st (which is now). This also confirms fears that after Wild Bill brought in his mortgage mayhem rules on October the 3rd, big lenders would soon start passing on higher anticipated financing costs.

And, yes, this reflects a global bond selloff that’s been quietly taking place for weeks now, as yields rise and prices fall. Some sweet manufacturing data from China this week helped propel things along, easing fears about slow global growth and suggesting the bottom for rates is – or soon will be – in the rear view mirror. Expect to have this confirmed by the Fed four weeks from now.

By the way, this rate change at TD is the first in a year, and widely expected to set the standard for other banks. As one broker told an industry web site on Tuesday: “When a bank changes their ‘version’ of bank prime it also serves as an invitation for the other banks to join in and do the same. Naturally if they all change the public is screwed and all the banks make more profit.”

Meanwhile in Ottawa our finance minister was busy Tuesday afternoon announcing $81 billion in new federal spending (we don’t have) for transit, infrastructure and lots and lots of shovels. It was exactly the news the Bank of Canada has been praying for – fiscal stimulus coming from government largesse and taxpayer debt instead of monetary stimulus through another cut.

In short, Canadian rates won’t fall. TD proves they’re going up. So houses are going down. Hillary, too?

Don’t bet on it.

224 comments ↓

#1 Jungle on 11.01.16 at 6:02 pm

I suspect BOC will lower rates again while all banks up their prime rate.

#2 pathcontrolmonk on 11.01.16 at 6:03 pm

25 million early voters sent in before the FBI non-event. Unless Trump can find video of Hillary torturing kittens, it will be a landslide.

#3 Mark Baum on 11.01.16 at 6:05 pm

‘Canada’s housing bubble makes America’s look tiny’

http://www.macleans.ca/economy/economicanalysis/canadas-housing-market-looks-a-lot-like-the-u-s-did-in-2006/

#4 pathcontrolmonk on 11.01.16 at 6:07 pm

…and everyone can stop comparing the election to Brexit:

1. Polling in the U.K. before Brexit was much closer, and inconsistent, than it has been for the U.S. election. Hillary Clinton has a healthy lead in CNN’s Poll of Polls, which averages results from recent polls.
2. Brits were voting for an idea. Americans are voting for a person. That’s key. Consider this: Only 29% of Americans believe the country is heading in the right direction (idea), yet President Obama (person) has a 52% approval rating.
3. Demographics between the United States and Britain are very different. Clinton has a big lead among Latinos, the largest-growing segment of the U.S. population. Cowen argues there’s no comparable demographic in the U.K.
4. Brexit was a popular vote. The U.S. election has the electoral college. If a candidate wins the majority of votes in a state, he or she wins all the electoral votes in the state.
5. Millions of Americans vote before Election Day in early voting. That wasn’t an option for Brexit. So far, early voting suggest stronger participation among Democrats.

#5 McLovin on 11.01.16 at 6:10 pm

Trump and Clinton are neck and neck according to latest Washington Post ABC News poll. Clinton is ahead in early vote exit polling, while Trump leads in both strength of support and voters planning to cast their ballot on election day.

https://www.washingtonpost.com/news/the-fix/wp/2016/11/01/post-abc-tracking-poll-clinton-falls-behind-trump-in-enthusiasm-but-has-edge-in-early-voting/

#6 dangeresque2 on 11.01.16 at 6:11 pm

I found the advice on the Millennial Portfolio to be great.

Is it still a valid/best strategy today? If not, how might it change to improve?

http://www.greaterfool.ca/2014/05/15/the-millennial-portfolio/

Thanks!

#7 prairiegopher on 11.01.16 at 6:13 pm

So rates are going up, houses down and the economy into the tank. We are spending money like drunken sailors, thanks baby T and we think the Yanks have problems!

#8 Figmund Sreud on 11.01.16 at 6:14 pm

… going down. Hillary, too?
_______________________

Well, … it’s the blowhard versus the corruption. Some swell choice to begin with, eh?

Anyway, … the blowhard is firmly against the war with Russia. That should settle it, … no?

F.S. – Comox, BC

#9 Randy Cross on 11.01.16 at 6:14 pm

Hillary for Prison

#10 Smartalox on 11.01.16 at 6:17 pm

The TD rate hike doesn’t immediately affect how much people have to pay on their mortgages – it’s much more insidious that that.

The change in rates just means that a greater portion of each payment goes toward interest, and a smaller amount goes toward the principal. Unless you make arrangements to update your payment info.

The result (for people who only focus on the monthly, without considering the combination of principal and interest) when it comes time to renew, you either have to:

a) add more months to the mortgage until the principal is paid off (up to 25 years) or
b) come up with a cheque for the portion of the principal that you paid off less, when it comes time for renewal. Got to stay on track, right?

And you may have to hustle to steer clear of the recent rule changes, (loan to value ratio, maximum 25-year amortization, etc.) if you decide to try your luck with a new lender.

#11 common sense on 11.01.16 at 6:19 pm

Don’t bet on it?

I do not believe she will but well worth throwing a few dollars at it at 50-50 odds.

#12 bdwy sktrn on 11.01.16 at 6:28 pm

#10 Smartalox on 11.01.16 at 6:17 pm

The change in rates just means that a greater portion of each payment goes toward interest, and a smaller amount goes toward the principal. Unless you make arrangements to update your payment info.
………….

so say manny (moist) milleneial went in way deep with 80k income and a 500k mortgage and say he did update to pay the extra.

will he be devastated and have to move all his stuff across town for 62 bucks a month? or maybe just eat one meal at home instead of out. just one.

#13 crdt on 11.01.16 at 6:30 pm

Not sure how someone could be so utterly invested in a candidate that is a criminal? Peddling her and her husbands influence for profit for decades. Smart = Clinton, Low Life = Trump? A few more days left and the best election ever will be over. How can someone in good conscience defend and promote a party that has been caught cheating, lying, scamming? How do you do it?

#14 ChickenLittle on 11.01.16 at 6:33 pm

Trump is going to win. The sky is falling…

#15 Grey Dog on 11.01.16 at 6:33 pm

FBI gave out more information today regarding a past Clinton pardon and current Clinton foundation. FBI is independent??? Really??? Who is Donald paying? Hillary definitely going to live the rest of her life as a Grandmother, not a prez.
With Donald”s finger on the red button, will we even be here a year from now?

#16 Debtslavecreator on 11.01.16 at 6:35 pm

Having worked for almost 2 decades and having worked years ago with the green machine I can tell u when people sign docs most branch staff never explain that prime rate is the Banks OWN rate for its best customers and most clients falsely believe the prime rate that drives their mortgage or loc is the bank of Canada’s rate
One more – almost nobody in the retail banking world ever told or knew themselves that the bank has different prime rates

I understand the rage that is going to follow as the industry elites are not ethical and a lot of what they do is questionable

Possible legal action coming – most people in this country and most people in the banking industry are going to get a rude awakening thanks to the deep misunderstanding of how rates and the bond market works
A banker gives u an umbrella when it is sunny and takes it away when it rains

#17 Ex-Cowtown on 11.01.16 at 6:42 pm

GT man, I think you’re wrong on the big turnout favoring Hillary. She can’t fill a Jr. High music room. Meanwhile Trump fills stadiums. The MSM is so far out to lunch with the echo chamber that they’ve created that they can’t tell what is actually going on vs. the rumors that they themselves have spun . I think that it’ll be funny, in a sad sort of way watching CNN, MSNBC, ABC, NBC and the rest of the bought and paid for media wonder how they could have been so wrong.

Hillary is a criminal and pathological liar. Trump is a goof. But sometimes a goof is your best choice. And besides, he’s clearly demonstrated that he gets tax law and how to exploit it. I’m surprised that you’re not supporting him. I’m waiting for the 9th to go bargain shopping on stocks.

#18 Barb on 11.01.16 at 6:46 pm

This morning, CBC Kelowna stated they’ll broadcast next Wednesday morning (after the US election results are “known”) from–of all places–Omak, WA.

Apparently, WA state is all mail-in ballots, so their population has already voted, according to CBC.

Hope they also discover why we Canadians are paying ~$1.11/litre for gas, when Americans pay ~$2.20/gallon. And, no, it’s not because the American gallon is smaller. It certainly also doesn’t reflect the exchange rate, as there was a comparable difference when our dollar was near 90 cents.

#19 Pete on 11.01.16 at 6:47 pm

Trump is in. He has a role to play on the world stage over the next decade. Hillary has already positioned herself for the defeat.

#20 Trrrrrump on 11.01.16 at 6:47 pm

Trump to is ahead in the polls by 5-10% its just the MSM that’s covering it up.

The polls will show this as we approach closer to the 8th because the MSMs revenue depends on accuracy. Current polls are just part of the election rigging and fraud.

Plan your portfolio accordingly

#21 Love My Kia on 11.01.16 at 6:55 pm

With the government announcement of bringing in 300,000 immigrants per year, wouldn’t this keep up demand for housing and therefore high prices even with a modest increase in rates?

#22 Harbour on 11.01.16 at 6:55 pm

Oh Baby !!

#23 Hillary, too? on 11.01.16 at 6:56 pm

Hillary, too?

Don’t bet on it.

—-

Poor Garth, still clinging on the establishment miracle, like a kid to Santa Claus.

#24 Freedom First on 11.01.16 at 7:00 pm

Yes……. So houses are going down-Garth.

As I said here recently I have re-balanced twice the past 12 months. One of the ETF’s on my radar is a coming golden opportunity for a well diversified Canadian R.E.I.T. I am watching.

Like owning hard RE, R.E.I.T.’s have been very good to me. For anything I own, I want to be paid. So far, so good.

#25 mirtwqyt on 11.01.16 at 7:04 pm

What if the election is a draw, kind of like a boring European soccer game 0-0. Could they share the duties with Trump as a hen-pecked Walter Mittyesque figure and Clinton as his badgering co-president wife. The fights would be legendary, and I could hear Trump trumpeting , “you wanna go to the moon Hillary?????”

#26 FBI non-event on 11.01.16 at 7:05 pm

#2 pathcontrolmonk on 11.01.16 at 6:03 pm
25 million early voters sent in before the FBI non-event. Unless Trump can find video of Hillary torturing kittens, it will be a landslide.

There are 5 separate FBI investigations taking place with Clinton’s inner circle.

The democracy torturing, corruption videos, emails keep coming as landslide.

25 million early voters made look like idiots.

Even if she wins the election, how long will she hang on before she goes down as the first impeached female president?

#27 Chaddywack on 11.01.16 at 7:06 pm

I wouldn’t be surprised if Trump wins…..after all we got Trudeau.

I’d trade any day at least Trump has worked at some point in his life.

#28 toronto1 on 11.01.16 at 7:06 pm

2.85%, moved 15 basis points and mortgage brokers are spreading doom? I thought this was a doom and gloom blog. If anyone finances are so precarious that a 15-30, even a 100 basis point increase threatens their ability to pay, they need to sell now. On a 400K mortgage thats an extra $30 a month, $30!.

Its going to be a close election for sure, I think much closer then the polls or media predict. Trump is taboo, nobody will talk about it but behind the voter booth curtain, they might just do it.

#29 First for the first time on 11.01.16 at 7:07 pm

First!!!

#30 spaceman on 11.01.16 at 7:08 pm

And where is he getting these billions of dollars? I thought we were broke?

#31 conan on 11.01.16 at 7:11 pm

OMG! Stop the presses and halt the alien invasion. Garth has a nice pic of a cat.

——–

Trump: Vote for her and it is WW III folks…..

That my friends is Trump’s one ace in the hole…..does it resonate over the next 7 days? Does he stick with this line of reasoning?

If I was Trump I would hammer this home. But, I am not.

Go H!! ( I think)

#32 Doug t on 11.01.16 at 7:15 pm

Hiltlery or Trump – who cares really. If you do then you obviously believe that democracy still exists down south lol.

#33 S.Bby on 11.01.16 at 7:17 pm

The tide has certainly turned for real estate.
This house near me is both for sale @ $2,290,000:
https://www.realtor.ca/Residential/Single-Family/17436039/6013-BURNS-STREET-Burnaby-British-Columbia-V5H1X3
And for rent @ $3,000
http://vancouver.craigslist.ca/bnc/apa/5850847404.html

It’s last sale was $1,338,000 in late 2014
My area has been driven my rampant speculation (like this example) over the last few years and it is now crashing hard.

#34 NorthOf49 on 11.01.16 at 7:19 pm

Another insightful and informative post. Just awesome Garth, keep it up!!!

#35 Goldie on 11.01.16 at 7:21 pm

Great. They keep revising the deficit higher and higher. The fiscal mismanagement of modern governments is depressing.

#36 S.Bby on 11.01.16 at 7:21 pm

I would like to add that as prices are declining by $1,000 a day that sellers are becoming more desperate and there are several houses in my area that are listed for sale and also up for rent on Craigslist. Too bad for the owners that rents are stagnant for SFH in Burnaby while sell prices crater.

#37 Fisher Robbins on 11.01.16 at 7:22 pm

So 9 times out of 10 would indicate Trump has a 90% chance to win? But Hillary has a 75% chance to win according to the Electoral College Predictions. So if Trump is Brexit and Hillary is no brexit, then we should be fine either way then? Gold did spike today so maybe that means the market thinks Trump and Pense can win this one!

#38 Harbour on 11.01.16 at 7:25 pm

There’s been a lot of surprises lately…

Trudeau
Brexit
Notley
Chinese Tax

#39 Polls R Phake on 11.01.16 at 7:25 pm

Actually CNBC says Trump is going to win.

http://www.cnbc.com/2016/10/28/donald-trump-will-win-the-election-and-is-more-popular-than-obama-in-2008-ai-system-finds.html

No it doesn’t. — Garth

#40 Mark M. on 11.01.16 at 7:27 pm

Year over year GDP growth is 1.5% in the US, even with the soybean boosted third quarter 2.9% “growth” that nobody credible takes seriously.

Imagine, eight years of 0% interest rates, trillions in stimulus and still 1.5% GDP growth and a tremendous amount of hand wringing over a second 25 basis point rate hike. How can anyone take any of this seriously?

The Fed says “the case for a rate hike has strengthened” and that every meeting is “live.” They have also made sure to remind us that they are apolitical. So then, given that they wanted four rate hikes this year, why won’t they hike tomorrow?

The Fed will be cutting rates in 2017, not raising them. Smart people will prepare accordingly.

#41 Finally on 11.01.16 at 7:30 pm

Is that the famed copy cat, finally caught on camera?

#42 Proud Female Canadian on 11.01.16 at 7:33 pm

DELETED

#43 Harbour on 11.01.16 at 7:47 pm

#42 Proud Female Canadian

Bring em in… let the great city of Toronto be their home

#44 Context on 11.01.16 at 7:47 pm

#2 pathcontrolmonk: I am monitoring the latest events and you would be shocked by it all. Just think of the greatest horror and its 10 times worse.

#45 South Etobicoke Trump Campaign Field HQ on 11.01.16 at 7:51 pm

You’re quoting the Clinton surrogates from CNN? Really?

I suppose you also believe the Kremlin is responsible for the contents of John Podesta’s emails?

If we were to lend any credence to the worthless narrative-peddlers that are the mainstream media who you selectively quote on this blog, Trump shouldn’t even have made it past the New Hampshire primaries, and we should be witnessing an uncontested coronation of the Borgist Queen in several days.

#46 Mark on 11.01.16 at 7:52 pm

“I suspect BOC will lower rates again while all banks up their prime rate.”

I concur. Credit will get more expensive against houses and ‘consumers’. And cheaper for businesses. Particularly large business. The housing bubble presented quite a ridiculous situation where basically broke new homebuyers were obtaining credit at rates comparable to, if not even at less cost than major corporations that own the infrastructure of Canada. Railways, telecoms, mines and pipelines.

The Fed will be cutting rates in 2017, not raising them. Smart people will prepare accordingly.

I wouldn’t be so sure. Inflationary pressures are actually quite strong in the US. I used to be in the camp of rates needing to fall back to ZIRP and go into NIRP (in fact, it was one of my 2016 ‘predictions’ that is probably gonna be wrong), but with how strong inflation is, US rate cuts probably aren’t in the cards.

The average individual salary in Toronto is over 100k a year.

Not even close.

Having worked for almost 2 decades and having worked years ago with the green machine I can tell u when people sign docs most branch staff never explain that prime rate is the Banks OWN rate for its best customers and most clients falsely believe the prime rate that drives their mortgage or loc is the bank of Canada’s rate

I pointed this out on RFD many, many times. The mortgage broker trolls called me every nasty name they could possibly think up, called it impossible, spammed, and complained incessantly to the mods (the ultimate reason for my departure). “Prime” has always been a rate set at the sole discretion of the bank.

What I’m not sure of at this point is whether TD can set a specific “Prime” rate for mortgages, and one for non-mortgage credit. They might have a bit of a problem there. The ‘fragmentation’ of “Prime” at TD specifically may cause non-bank lenders, the so-called “monolines” to have problems with their contracts that fix “Prime” by way of reference to the average of the big-5. Which “Prime” do they use?

#47 Balmuto on 11.01.16 at 7:53 pm

This is interesting – apparently the higher rates will only apply to existing variable rate mortgages at TD. For new VRMs, they dropped the spread to prime by 15 basis points, so the all-in rate on new mortgages will be the same. Sneaky, eh? Now if this wasn’t simply a case of opportunism and they were really trying to de-risk their portfolio, wouldn’t it be the other way around?

“It’s notable that TD has increased it’s VRM discount from prime – 0.10% to prime – 0.25%. That means new customers are somewhat insulated from this change (for now). It is existing VRM customers who get the shaft.”

https://www.ratespy.com/td-jacks-mortgage-prime-rate-11013623

#48 Russian Hacker on 11.01.16 at 7:54 pm

Trump will win because we have hacked all the voting machines. You can be sure this is true because Hillary said so.

This whole thing is a disastrous farce. It’s got us so scared we are building bomb shelters as advising foreign students to return home. NATO is moving all their tanks right to the border and US politicians speak of shooting our planes down over Syria. Does no one in America know where this could lead? I’ll tell you one thing it’ll fix the European refugee crises.

#49 Mr. Frugal on 11.01.16 at 7:54 pm

Garth you are in denial. Just admit you were wrong and jump on the Trump train. We won’t judge. That’s what liberals do. Trump 2016!!!

#50 joblo on 11.01.16 at 7:56 pm

“Hence, today’s triple-digit pasting on Wall Street. Safe to say some more may follow. Despite a jump in economic growth, good labour data, recovering corporate profits and a massive machine behind her, the status quo candidate looks weak.”

Let’s add to that what has already peaked:

S&P 500 operating profits (four-quarter average basis): Q3 2014
Industrial Production: November 2014
Real Capital Spending: Q3 2015
Auto Sales: September 2015
Single-family housing starts: February 2016
Real retail sales: recent high was July 2016

#51 Mike on 11.01.16 at 8:00 pm

#21 Love My Kia

Artificially increasing the immigration quotas in Canada would theoretically increase demand for living space in Canada.

On the controversy, when those immigrants end up depleting their life savings living in an expensive, pro-femmie hellhole like Toronto, the incomes of those immigrants decrease causing social ills for the major cities in Toronto such as slums, crime, depression, health problems, suicide rates, poverty, child poverty, and other ailments which pose a detriment to the well-being of society.

The Canadian government is short-sighted in believing that increasing the immigration quotas is good for Canada when there are no new roads, expansion of cities and infrastructure to accomodate their immigration needs.

The Canadian government only wants to bring in more consumers to artificially increase the GDP while artificially creating scarcity for housing, leading to an increase in spending for rent and housing in Canada.

I work with an independent immigration journalist and I can say that at least 7 out of 10 legitimate middle class immigrants (families, professional people, NOT including business class immigrants) end up in poverty for their first five years in Canada.

At least 5 out of 10 immigrants to Canada eventually leave Canada for good after living in Canada for ten years.

The Canadian government is only interested in importing more immigrants to spend their money in the Canadian economy. The Canadian government does not care if an immigrant doesn’t obtain a job in their field or not, but they do want the immigrants to work in dead-end minimum wage jobs even when the immigrant earned a Phd. from a prestigious university in Europe.

The real estate and Canadian economy are a fraud. Then you have these pro-government, pro-Realtor trolls on this blog accusing anyone who criticizes real estate in Toronto to be mentally ill, while they spew random garbage about how Toronto is great even when other commenters explained that other cities are better than Toronto.

Canada real estate is an economy built on the money from immigrants. It is only a matter of time when the money runs out.

#52 Freedom First on 11.01.16 at 8:02 pm

#35 Proud Canadian Female

The vast majority of the Homeless are men. Almost 100% of workplace fatalities are men. The vast majority of serious workplace injuries are men.The vast majority of suicides are men.

The majority of charities and social agencies available are for women.

Proud Canadian Female. You just don’t understand. Sad.

The marriage rates in the west are at an all time low. Figure it out. Or is math too hard for you?

#53 the Jaguar on 11.01.16 at 8:03 pm

What a stunning creature laying on the photocopier. No pooch ever possessed such an alluring fur coat.

About this business with Trump and sexist comments he made about women. No one can support such behaviour in this day and age. However, sensible people know that where men gather, be it their man caves, sports bars, a tailgate party at the rear of their F150 Crew Cab, etc., ” men will behave like men. Things are said. Brothers, fathers, husbands, all of them. The need to be accepted as part of the male herd is overwhelming. I understand the public humiliation that is part of the present political culture, but can we just stop behaving as though Trump is some kind of lone wolf in this regard. We are all guilty of a lapse in judgement at times. Men and women alike. Bill Clinton’s behavior was far worse given his position of power and the office he held.
I find it hard to believe that the military industrial complex has not considered the possibility of a ‘Brexit’ moment occurring. Likely they already have a plan to deal with any threats to their empires. Or maybe this really is a Revolution underway. In so many ways we are all at the edge of great change. Electric cars, the digital world overtaking the world of bricks and mortar banking, Robo investment advisors, Robots in the manufacturing sector. Everything and everyone is vulnerable to change and nobody is sure what the future looks like. Why not take a gamble on a guy like Trump. The status quo sure isn’t working. After all, the Cubs are in the World Series. Anything is possible.

#54 Smoking Man on 11.01.16 at 8:06 pm

Unless the outcome is “clear”, Trump says he might not concede.-Garth
……………..

No worries it’s going to be a landslide, Clintons only have the woman card and made up stories about Russia.

You see, not all woman hate men the way MSM portrays it to be. Real woman are running away in packs from radicalized lesbionic feminazi doctrine.

Imagen, a girl likes a boy, and a boy likes girl. I thought crime, blasphemy in Wynne’s warped Ontario.

People are sick of political correctness, offshoring of jobs, and the swamp in Washington.

That’s the one, two, three, knockout punch that knocks out Hillary. Ther FBI is just icing on the cake.

#55 Mr. Frugal on 11.01.16 at 8:08 pm

#42 Proud Female Canadian

A very good reason NOT to live in Toronto.

#56 Toronto the Rude City on 11.01.16 at 8:09 pm

#41

The saying goes: Pride comes beforeth a fall.

I’ve travelled to at least four contients of the world, and Toronto would have to be by far, the most rudest city in the world, rather than a “world class” city.

For a “world class” city, Toronto is rude, and their customer service is terrible. The police in Toronto only serve certain groups and genders of people in Toronto, so good luck being a male with a South Wales accent being accused of leering at women in Toronto for asking directions in their maze of mediocrity.

I do not know which fool would want to spend at least a mil on a 50-year-old house with a leaky basement in Toronto knowing that the city gives off a rude, gloomy and dog-eat-dog vibe that would make the hard knock life of NYC look like a vacation.

Toronto people are just rude. I don’t know how the immigrants feel about the rudeness of Toronto-nians, but as a European man, I do not feel welcome in Toronto because I am a straight male who does not speak like someone from Toronto.

I would rather invest a mil in Bernie Madoff’s Ponzi scheme than to purchase an home in Toronto. At least Bernie would let me do some “locker room” talk about his secretary but in Toronto it is a politically correct hell for anyone with an IQ higher than 90-100.

Then you should be fine. — Garth

#57 Michele on 11.01.16 at 8:14 pm

Toronto is the 3rd largest city in North America.

You losers are delusional to think that Toronto isn’t the best city in the world.

The Canadian economy will rebound in the next few months. Oil prices will reach $100 before Spring 2017.

#58 IHCTD9 on 11.01.16 at 8:16 pm

#42 Proud Female Canadian on 11.01.16 at 7:33 pm

——–

Troll of the day award goes to you!

#59 Concerned on 11.01.16 at 8:19 pm

Garth, comment #42 – seriously?

#60 Rexx Rock on 11.01.16 at 8:19 pm

Its funny goverments really don’t represent the people.Look at Germany,Merkel let in million of migrants and the German people are suffering for her generosity.Germans didn’t want this.Rape,murder,robbery,billions of debt and lists goes on.
Canada is the same,the people have know say on important issues.We need referendums on major policies that may negatively affect our country.Let the people decide.

#61 Mark on 11.01.16 at 8:20 pm

“With the government announcement of bringing in 300,000 immigrants per year, wouldn’t this keep up demand for housing and therefore high prices even with a modest increase in rates?”

In a nutshell, no. The immigrants that arrive in Canada bring very little money. So they’re forced immediately into the workforce. The construction sector is extremely receptive of this labour, and a significant chunk of new immigrants end up participating in the construction sector, contributing to the supply side of RE. It takes roughly 3 man years of labour to build a typical housing unit, so immigration actually, over time, suppresses house prices.

If there was a giant step change in immigration rates, housing prices could rise temporarily. But I don’t think that’s really the case here, at least with the numbers presented. 300k immigrants per year barely even keeps Canada’s population flat.

#62 Gasbag Boomer on 11.01.16 at 8:21 pm

I like dogs and cats, the picture is great, I admit to a predisposition to cats…

#63 Herethere on 11.01.16 at 8:24 pm

As usual, it seems our cousins to the south, like on many parts of the world, are being play like violins. The FBI with his intervention, a few days before election date, disguised as a second thought. Bring memories of the “hanging chad” fix. Perhaps ex-president Carter and his entourage, can show up as observers, to certify the voting is above board. As his teams did it, in other countries at election time.

#64 Mark on 11.01.16 at 8:27 pm

“Now if this wasn’t simply a case of opportunism and they were really trying to de-risk their portfolio, wouldn’t it be the other way around? “

New loans almost certainly are going to be subject to tighter qualification standards, and the premium rates far more exclusive than in the past. “Best rates” may very well drop in coming weeks/months as borrowing demand dries up, but if only an increasingly small chunk of the borrowing population actually qualifies for them based on falling housing prices and falling equity, that’s cold comfort to the majority that will face higher rates.

“Canada real estate is an economy built on the money from immigrants.”

Actually immigrants bring very little ‘money’ to Canada. More accurately, Canadian RE is an economy built on the money of Canadian investors who, due to government incentives (ie: below-cost CMHC subprime mortgage insurance) and “yield chasing”, have made credit abnormally inexpensive.

The move by TD today is one of what is almost certainly going to be a long line of price increases on credit to “consumers” so as to normalize rates and investment returns to their historic “real” averages. Probably with some overshoot as well to make up for abnormally low returns.

#65 the other white meat (pork) on 11.01.16 at 8:30 pm

Never underestimate how “done over” common people feel. Add another 350,000 people per year from diverse backgrounds, and competing for the same limited resources and it doesn’t take a rocket scientist to figure out what tensions we will have in three years time.

I’m not sure that the man with his father’s name and his mother’s brain has thought this through. 90 percent of the new arrivals will go to Toronto and Vancouver, but where will they live? The vacancy rate here in YVR is low and the prices high, so I hope these folks are bringing suitcases full of money. That of course will further displace those at the bottom of the food chain and voila, a Trump is born. I hope that sharper minds than mine are working on solutions to these problems, instead of ways to apply the usual spin. There is a great opportunity here, hopefully it isn’t squandered by mishandling things.

#66 Limbaugh Fan on 11.01.16 at 8:33 pm

#42

As an America, your statement about the poor not being able to receive healthcare is a boldfaced lie.

They don’t call Toronto a feminist infected poo-lice state for nothing.

I can only cheer when the Canadian dollar devalues to below 60 cents next year. It means less Toronto divas infecting the USofA with their rude, standoffish and influence-peddling behavior.

Trump should have built a wall to block Canada rather than Mexico.

#67 CADdownto60july2017 on 11.01.16 at 8:35 pm

42-clearly a desperate realTARD looking to shut down any negative talk to corral any loose greater fools into overpaying 150-200 k for a GTA shack
Sorry the majority of you pond scum will be looking for a new career soon

#68 Chaddywack on 11.01.16 at 8:35 pm

@33 s. BBY

Here’s another beauty. Both for rent and to buy:

Listing:

https://www.realtor.ca/Residential/Single-Family/17481301/2754-DUNDAS-STREET-Vancouver-British-Columbia-V5K1R2

Rental:

https://vancouver.craigslist.ca/van/apa/5850651762.html

This house started at $1.9 million in August just after the foreign buyer tax came in and its gone no-bid for months despite open houses every weekend. Previous reductions were to $1.6M and now $1.5.

I think $3,600 for the house is very steep in that area of east van since I see the same price for entire houses on the west side and west van.

Seems to be a lot of these dual rent/buy situations. As a plus it might alleviate the low vacancy rate in Van somewhat.

#69 Nemesis on 11.01.16 at 8:36 pm

#PluckyComicRelief,Or… #JustOneMoreEmigre… #BreakingBadGoesFullRetard…

[LAT] – Bryan Cranston says he ‘would definitely move’ to Canada if Donald Trump became president

http://www.latimes.com/entertainment/gossip/la-et-mg-bryan-cranston-donald-trump-canada-20161101-story.html

#NowYouSeeIt… #AndNowYouDon’t…

[Telegraph] – Cleavage goes bust: Vogue declares the décolletage ‘over’

…”Vogue magazine, the fashion bible, has claimed “the cleavage is over” as women fight back against the judgment of social media to pack away their push-up bras.

An article in this month’s edition claims fashionistas are turning their backs on showing off their breasts, choosing instead to show more demure flashes of the shoulder, stomach or leg in a bid to outwit “creepy” online feedback.”…

http://www.telegraph.co.uk/news/2016/11/01/cleavage-goes-bust-vogue-declares-the-dcolletage-over/

#70 MF on 11.01.16 at 8:37 pm

#2 pathcontrolmonk on 11.01.16 at 6:03 pm

I sense a high level of COPE. I don’t hate Hillary but when a presidential candidate is being dogged by the FBI it doesn’t bode well regardless of demographics etc.

As for this market who cares. Older folks will reminisce of a time when stocks represented reality and were allowed to go down once in a while. A time when the market smelled of something other than central banker desperation.

Our finance minister? Anyone see the debate with IH on here over ballooning debt levels? It was a bloodbath as the T2 supporter got annihilated.

MF

#71 Vivian Keegstra on 11.01.16 at 8:38 pm

Toronto ranked the best city in the world to live by the City of Metropolitan Toronto website
http://www1.toronto.ca/wps/portal/contentonly?vgnextoid=374d3f4975c3b410VgnVCM10000071d60f89RCRD&vgnextchannel=535adce9014df310VgnVCM10000071d60f89RCRD

Toronto will be #1 in the world. The haters are bitter that they can’t find success in Toronto. They only complain on this blog.

#72 mouldyinYVR on 11.01.16 at 8:42 pm

….for all ‘graph loving’ dawgs………
http://www.macleans.ca/economy/economicanalysis/canadas-housing-market-looks-a-lot-like-the-u-s-did-in-2006/

“while there are signs of fraud in the Canadian mortgage industry, the causes of the Canadian real estate bubble (vs. the US) seem more straightforward: low interest rates and lots of bank lending (much of it insured by the taxpayer), with foreign investors also playing a role in certain areas (namely Vancouver). Oh, and old-fashioned greed, fuelled by ridiculously unrealistic expectations.”……….

#73 Curious on 11.01.16 at 8:46 pm

40 Mark M. on 11.01.16 at 7:27 pm
Year over year GDP growth is 1.5% in the US, even with the soybean boosted third quarter 2.9% “growth” that nobody credible takes seriously.

Imagine, eight years of 0% interest rates, trillions in stimulus and still 1.5% GDP growth and a tremendous amount of hand wringing over a second 25 basis point rate hike. How can anyone take any of this seriously?

The Fed says “the case for a rate hike has strengthened” and that every meeting is “live.” They have also made sure to remind us that they are apolitical. So then, given that they wanted four rate hikes this year, why won’t they hike tomorrow?

The Fed will be cutting rates in 2017, not raising them. Smart people will prepare accordingly.
—————-
Just curious, how would you suggest to prepare?

Don’t feed the doomer troll. The Fed will not hike a week before a Presidential election, and there will be no rate cuts in 2017. — Garth

#74 Jessica on 11.01.16 at 8:48 pm

Toronto is my home!

If you don’t like Toronto, LEAVE!

We don’t want haters like you to ruin the reputation of our great city.

The same goes for the extremism pro-race and pro-religion groups. You all need to leave. There is no room for racism or religion in our multi-cultural city.

If you don’t have any good words to say about Toronto, don’t say anything at all. Toronto is the best city in the world for people who are not mentally disturbed and haters of our great city.

#75 Scott on 11.01.16 at 8:49 pm

42 I guess slamming Chinese is forbidden but that’s o.k because there’s always the natives.

#76 Aggregator on 11.01.16 at 8:50 pm

TD raised its prime rate so the BOC can cut rates, effectively widening the spread TD earns.

Meanwhile, billions of dollars in govt relief funds later… Calgary home sales are up 15.6% yy in October.

#77 IHCTD9 on 11.01.16 at 8:50 pm

#51 Mike on 11.01.16 at 8:00 pm

Artificially increasing the immigration quotas in Canada would theoretically increase demand for living space in Canada.
——-

I doubt many new immigrants get into the GTA RE market right off the boat. The average savings brought to Canada by a newcomer is less than 40k, and they blow 50% of that on average just getting settled. I doubt with the way things are right now they’d even be looking to buy anything even within 10 years of being here.

The Star had an article about immigrants renouncing their permanent residency status, and I have read similar as you regarding 40+% of immigrants going back home after a decade of battling it out here to no good end.

T2’s regime assumes that Canada can open the door, and folks from all over the world will be climbing over one another to get thru, that may be true now; but word is starting to get out I suspect. Some day the deluge will be a trickle, the tap will close in tandem with Toronto’s growing lack of opportunities for everyone living there.

The infrastructure shortages will be epic though, just imagine near 1 million newcomers in 5 years all jamming themselves into the GTA enclaves. What a bloody disaster!

Oh well, too late now…

#78 Tony on 11.01.16 at 8:52 pm

Toronto is a Ponzi scheme where we need more and more people and immigrants to feed the lie. Toronto takes their money then spits them out. I doubt Canadians from afar who come here and immigrants will ever wake up to the Ponzi called Toronto.

#79 Proud Latvian born, black, Presbyterian, transvestite, special needs, lgbqlmnop Canadian. on 11.01.16 at 8:56 pm

Sure beats being just a plain old Canadian eh! Why do so many Canadians have a need to define exactly what kind of Canadian they are? No one cares.

(aka Ret)

#80 Binder Dundat on 11.01.16 at 8:59 pm

Garth-re: comment #42 Proud Female Canadian

“rapey First Nations people destroying the images of our downtown Toronto and Vancouver core with their homelessness and harassment of working class women”

Surely this can’t be acceptable discourse for this blog?

No, it is not. Now removed. My apologies for missing it. – Garth

#81 paulo on 11.01.16 at 9:00 pm

Have to wounder in “wild Bill” was not telegraphing his
vision of first mortgage money in the 4% plus range 12
months out IE the “Stress Test” ? umm

As To US Election look for a epic Legal Cluster **** yep the lawyers will make millions , Hillary buy a nose in the end
As For us: look for a mild recession and lots of pain in the next 24 months, triggered by the unfolding correction in our Real Estate Ponzi Game

Good news: life goes on you will survive for the most part, unless you are a real estate flipper or bought with less than 20% down in the last 2 years ,you are likely shit out of luck

#82 Harbour on 11.01.16 at 9:04 pm

Ha Ha… great pic

#83 att on 11.01.16 at 9:10 pm

The VIX “fear index” goes above 25 several times a year.. it is still well below 20.

It doesn’t often rise by a fifth in a day. Correct as posted. — Garth

#84 Smoking Man on 11.01.16 at 9:10 pm

I’m never writing a book again.

Fixing the grammar and spelling is not intuitive to me, but I don’t want another editor to touch it, it’s my art.

Let’s not mention my last editor will never speak to me again, Sexist, misogynistic, stupid garbage was her review, I’m not doing this.

Over school is what I thought of her.

On top of that, configuring it into epub format just brutal, TOC works for this but not for that.

This project is a one and done for my writing ambition.

#85 Context on 11.01.16 at 9:14 pm

I am happy to see the caption photo changed as it prevents me from saying what was taking place with that machine all ready to go on that poor pussy cat. No pun intended.

#86 CorvetteC7R on 11.01.16 at 9:14 pm

Hi Garth,
You mentioned the global bond sell off today and I can recall FP headlines about a bond ‘nightmare’ or ‘bloodbath’… In a future post, could you shed some light for us dogs on what’s going in the bond market, what are the risks to the balanced and diversified investor, and how we should respond to this climate in on going investments (e.g. keeping durations short). Or that could be a good technical post for Ryan this weekend ;)

#87 Mark on 11.01.16 at 9:17 pm

“Our finance minister? Anyone see the debate with IH on here over ballooning debt levels? It was a bloodbath as the T2 supporter got annihilated.”

Nice try at revisionist history. The data very clearly showed that the T2 government, to date, has presided over lower average debt increases (ie: deficits) than the previous government. Not even adjusting for inflation.

Not sure why this is hard to see. The Bank of Canada data concerning the debt of Canada is about clear as it gets. There’s no sales mix to worry about. The comparisons were over the long term so you don’t have to worry about seasonality. And if you include cyclicality to the argument, Canada is arguably closer to the bottom part of the cycle more recently than it was during most of Harper’s reign.

#88 Harbour on 11.01.16 at 9:20 pm

#71 Vivian Keegstra

You could google the 10 best cities in the world to live in and get 20 different sites with 20 different cities.

#89 WalMark of sadkatoon on 11.01.16 at 9:22 pm

If Trump wins, Smoking Man will be god here

Toronto is the de facto capital of Canada. Anybody who comes to Canada wants to be in Toronto. And data shows that real estate prices in Toronto have been ratcheting skyward for over 10 years now. If anything will. Ring Toronto to its knees its a fall in real estate prices

#90 GreaterFool D. on 11.01.16 at 9:27 pm

Mike #51
Great, moment of truth.

https://www.thestar.com/news/immigration/2016/10/31/thousands-of-immigrants-quietly-giving-up-permanent-resident-status.html

#91 conan on 11.01.16 at 9:27 pm

Conundrum: Many Democrats wishing Biden had said yes.

Something is happening here………

#92 AJ on 11.01.16 at 9:28 pm

Garth- comment #42

It has been deleted. Should not have been published, and I regret not catching the slur. — Garth

#93 Metaxa on 11.01.16 at 9:29 pm

Anyone remember the good old days?
When Sarah Palin was the only loopy one out there preoccupying our thoughts?

Anyway, into this Trump love fest I’ll pop in a couple of facts.
Mr. Trump has two court dates coming up, scheduled and everything.
In November (just after the election) he answers to charges of Fraud pertaining to Trump University. Think back to how Martha Stewart was treated by the US judicial system. Or Conrad Black.
Fraud is frowned upon down there.

His other scheduled court date pertains to sexual encounter(s) with a 13 year old girl.

That is probably frowned upon even up here, no?

But who am I to say…maybe he has some of that Ford Family Teflon and that will allow him to skate on child rape but…I’m sure he will be a great President. The Best in fact.

The 8th/9th can not come soon enough.

Oh, who has a supporter that’s already been caught voting twice? Hint, its not the Democratic Party one.

Study it out, people.

#94 WalMark of sadkatoon on 11.01.16 at 9:32 pm

Toronto real estate prices are being driven upward by domestic speculators

http://www.cbc.ca/beta/news/canada/toronto/foreign-buyers-tax-toronto-real-estate-investors-1.3824467

#95 GreaterFool D. on 11.01.16 at 9:34 pm

DELETED

#96 IHCTD9 on 11.01.16 at 9:36 pm

#74 Jessica on 11.01.16 at 8:48 pm
Toronto is my home!

If you don’t like Toronto, LEAVE!

We don’t want haters like you to ruin the reputation of our great city.

The same goes for the extremism pro-race and pro-religion groups. You all need to leave. There is no room for racism or religion in our multi-cultural city.

If you don’t have any good words to say about Toronto, don’t say anything at all. Toronto is the best city in the world for people who are not mentally disturbed and haters of our great city.

——

Hi Jess, Toronto sucks.

Also, I tell all the foreign folks overseas I deal with at work that life is better in Sierra Leone than in Toronto. :)

Also, the GTA is jam packed full of Religion, there are more Religious folks living in Toronto than any other city in Canada, a “Mecca” of theology if you will. Enjoy!

Oh, and last I checked, all the different cultures living in Toronto self-segregate of their own free will and preference.

#97 the Jaguar on 11.01.16 at 9:47 pm

I have to draw a line in the sand, Garth. #31,41,53 and 62. All enjoying the cat on the photocopier, animal lovers. Yet you removed it. I feel like you threw the cat off a bridge. I am giving you until 8:00 a.m eastern standard time to restore the cat or I am “OUT”. Consider it an ultimatum because it is. It is the principle involved. I might continue to read the blog, but that is where it ends. Some may rejoice. Dorothy would understand if you do not.

#98 GreaterFool D. on 11.01.16 at 9:48 pm

#71 Vivian Keegstra
Toronto ranked the best city in the world to live by the City of Metropolitan Toronto website.

I bet you that’s the only site you can find this on.

#99 Curious on 11.01.16 at 9:50 pm

Just curious, how would you suggest to prepare?

Don’t feed the doomer troll. The Fed will not hike a week before a Presidential election, and there will be no rate cuts in 2017. — Garth
———-
No doubts the fed won’t raise tomorrow. I wanna see if they do not increase in December; then the plan/rational needs to be rethought. Mark M.’s logic is right that they were promising for a whole year and did not go up even once… only excuses why they did not raise this time. Does not make sense

Regardless, I do agree that timing market might not work and diversified portfolio will soften market correction ; at this point I am trying to hear second opinion. Thanks

#100 John on 11.01.16 at 9:57 pm

Ok Garth…. you ditched the cat picture and inserted the Hillary is a liar picture. Was Bandit bitting your sore ankle ?? Or, is the liar concept starting to get traction? Up until a couple of weeks before a long ago vote, Reagan was looking to be defeated by Carter…. and then Reagan won. What a mess this election has truly become.

#101 John on 11.01.16 at 10:04 pm

According to MLS.ca listings are popping up like dandelions in June. TD’s rate move is just a pack leader signaling the obvious. Meaning trouble in the mixer.

#102 will on 11.01.16 at 10:06 pm

#16 debtslavecreator

“A banker gives u an umbrella when it is sunny and takes it away when it rains”

Hahahahaha! Thats a good one. Yeah years ago a friend of mine had this odd idea that he could get money “at less than prime!!” I can hear him screaming about it even now. Anyway thanx. Interesting comment.

#103 Smoking Man on 11.01.16 at 10:08 pm

#89 WalMark of sadkatoon on 11.01.16 at 9:22 pm
If Trump wins, Smoking Man will be god here

Toronto is the de facto capital of Canada. Anybody who comes to Canada wants to be in Toronto. And data shows that real estate prices in Toronto have been ratcheting skyward for over 10 years now. If anything will. Ring Toronto to its knees it’s a fall in real estate prices
……
He’s 100% going to win

I was a god on here long before this election, just not sure if I come from above or below. Depends on your programming that decides that question.

It’s was obvious to me a long time ago the political correctness crap is not logical, makes no sense, is stupid beyond belief. Offensive Halloween costumes. Please…

It’s driven down our throats on daily basis and policed by the mob, it’s getting more illogical, no more Mother and Father in Ontario. The assault on free speech is gotten to the point of ridiculous.

The trump phenomenon is push back, the loony left is unhinged and that’s a good thing. Mabey they will learn something useful for once in their pathetic lives.

My motto on my blog from the get-go, “You can’t bend what you can’t offend” The day you are forbidden from offending is the day your freedom dies and Tyranny lives.

I was born free and I will die free.

You come after my free thoughts, my opinions without debate, using words like Sexist, misogynist, racist to shut me up.

I will punch your lights out with words that I can’t even spell right.

#104 conan on 11.01.16 at 10:09 pm

RE #84 Smoking Man on 11.01.16 at 9:10 pm

The book is no more?

Kermit the frog kept going, Ronald Mcdonald got laughed at, look at them. : )

That guy who invented the SpitFire? Rejected many times.

Being bold has dangers.

#105 SWL on 11.01.16 at 10:12 pm

#52 Freedom First

#35 Proud Canadian Female

The vast majority of the Homeless are men. Almost 100% of workplace fatalities are men. The vast majority of serious workplace injuries are men.The vast majority of suicides are men.

The majority of charities and social agencies available are for women.

Proud Canadian Female. You just don’t understand. Sad.

The marriage rates in the west are at an all time low. Figure it out. Or is math too hard for you?

————–

Freedom First throwing it down

Well, I sure am looking forward to this election being over, but something tells me even after the popular vote is counted, or miscounted the drama will remain the same. Things are a complete gong show south of the border and it’s not easy for the average Jill or Joe to sort through the misinformation and disinformation to try and find something that might resemble the truth.

The truth is… America in an empire in decline and most of the rot happened from within. Draining the swamp may be a Nobel solution, but too little too late at this point in the game. The lies are just too deep, too nasty and people world wide are waking up to what is really going on.

Perhaps we do still have a chance, but that mostly all depends on if the commanders and chiefs further down the pecking order are willing to follow direct orders… Or are they willing to take the moral high road for themselves, for us, and for future generations???

#106 Context on 11.01.16 at 10:14 pm

The is always an option to being in Toronto but living in a beautiful village town with the Go Train parking lot a short drive or a 10 minute walk. How does a high rise apartment sound right where you want it to be looking over the lake with goods and services at hand and a shopping plaza on the street level. Nothing better than the huge Brogue Irish Pub downstairs with a full menu and entertainment to meet and greet your neighbours. Its a bit expensive for such a beautiful building with a junior one bedroom for $1,025; a one bedroom at $1,150, and the two bedroom for $1,350 and indoor parking for $60 per month – 5 Ann Street on the corner of Lakeshore in Port Credit; its a dream location.

#107 Love My Kia on 11.01.16 at 10:15 pm

#51 Mike on 11.01.16 at 8:00 pm
==============================

Wow, that was an eyeful! Makes sense though.

I don’t see why anyone opposes immigration, so many of ‘our own’ perceive immigrants as a threat to their livelihood and beliefs. It is also unfortunate that immigrants are used as a means for economic gain.

I do see new Canadians learning to adapt to this difficulty, many families living under the same roof and pooling resources to make ends meet. It doesn’t seem too different from how millennials adapt by failing to launch and living with parents due to their own financial difficulties.

#108 anti Vivian the dumb on 11.01.16 at 10:17 pm

Viv, you obviously have seen the world of you think Toronto is the best city ever.

For some nice anecdotes this is funny:

http://tomenunite.blogspot.ca/?m=1

#109 IHCTD9 on 11.01.16 at 10:23 pm

Something is happening on the CBC, many stories open for comments, even ones certain to provoke anti-T2 rethoric. There are thousands and thousands of posts ripping T2 and Co. great big new ones and not getting moderated.

#110 Bottoms_Up on 11.01.16 at 10:24 pm

#47 Balmuto on 11.01.16 at 7:53 pm
————————–
TD, that’s a great way to treat your existing customers. Well done.

#111 NEVER GIVE UP on 11.01.16 at 10:25 pm

#80 Binder Dundat on 11.01.16 at 8:59 pm
Garth-re: comment #42 Proud Female Canadian

“rapey First Nations people destroying the images of our downtown Toronto and Vancouver core with their homelessness and harassment of working class women”

Surely this can’t be acceptable discourse for this blog?

No, it is not. Now removed. My apologies for missing it. – Garth
—————————————————————–
I wonder how much of The Donalds’ speeches would be tolerated in this blog!

#112 Smoking Man on 11.01.16 at 10:29 pm

#104 conan on 11.01.16 at 10:09 pm
RE #84 Smoking Man on 11.01.16 at 9:10 pm

The book is no more?

Kermit the frog kept going, Ronald Mcdonald got laughed at, look at them. : )

That guy who invented the SpitFire? Rejected many times.

Being bold has dangers.
……

Very said, today I went downtown to renew my passport, ran into an old buddy, manager at my old tax farm.

He’s not allowed to tell his people, they did bad on this, he’s forced to lie his ass off. You did good, you’re special, thank you. He has to lie or he gets reprimanded.

Is that really helping anyone?

My ass got bounced out the door from my last gig because I sucked, I bit off more than I could chew. Way out of my league, my co-workers were rocket scientist. I outlasted a Ph.D. in computer science and Ph.D. in math dude. That’s how good they were.

I get warm thank you letter for my effort, invoices paid early and a bounce . Ridiculous.

I would have much more preferred for them to tell me what my shortcomings are so I can improve. Well, I think booze might have had something to do with it. But it would have been respectful know for sure.

That’s how screwed up the world has become.

#113 Ace Goodheart on 11.01.16 at 10:33 pm

Creepy thing about house prices, is they follow pretty much exactly interest rates, in an inverse manner. Interest rates go up, house prices go down. Rates go down, house prices go up. Why is this creepy?

Because it doesn’t matter for folks who are wanting to buy a house right now but are priced out. They will still be priced out if rates rise and prices fall.

Creepy: Rising rates, mean that you cannot afford to purchase as much house as you used to be able to afford. So now instead of maxing out at 600K, you only can afford 400K.

Even more creepy: That 800K house that you wanted, but couldn’t afford, is now 600K. So yay, party time, break out the beers and the shots…..but wait, you can’t afford a 600K house anymore, you can only afford 400K.

So you’re still priced out.

Doesn’t it make your spine tingle? It’s like it’s planned. Like someone wants to keep you poor forever, so you can never stop working.

Maybe it’s the same people who like to post pics of “just imagine” retirement scenarios in their places of business – “just imagine, someday…..” Like banks maybe?

Is it important that everyone have a “someday” that they will never actually reach but can dream about while they’re slowly working themselves into the grave?

Food for thought. Creepy food, but still food…..

#114 will on 11.01.16 at 10:35 pm

#46 Mark

““I suspect BOC will lower rates again while all banks up their prime rate.”
I concur. Credit will get more expensive against houses and ‘consumers’. And cheaper for businesses.”

What an excellent observation. I never thought about it that way. Gotta concur. I’m not being sarcastic. Maybe just to add, credit will be cheaper for businesses because businesses are more conservative than consumers and buyers of houses.

#115 NEVER GIVE UP on 11.01.16 at 10:38 pm

It would be nice to see a thoughtful discussion on political correctness.

I have always felt that people do not have the right to be insulated from being offended.

– Brown University: banned any speech “making people feel angry, impotent and disenfranchised”

– Colby College: banned any speech “leading to loss of self esteem”

– Bryn Mawr College: banned “suggestive looks”

– Haverford College: banned “unwelcome flirtation”

– University of Connecticut: banned “inappropriate laughter”

– West Virginia University: banned the use of words “boyfriend” or “girlfriend” but instead told students they have to use the words “lover” or “partner”.

http://freedom-articles.toolsforfreedom.com/political-correctness-language-thought-control/

Any inappropriate references to canine companions on this site will result in neutering. No anaesthetic. — Garth

#116 Mark M. on 11.01.16 at 10:39 pm

“Don’t feed the doomer troll. The Fed will not hike a week before a Presidential election, and there will be no rate cuts in 2017.” — Garth

Garth, the Fed wanted four rate hikes this year. Two months ago, two were in the cards.

In late August Janet Yellen told us “The case for a rate hike has strengthened.” In September several Fed members made it clear that politics play no role in their decisions. Just last month we heard once again that every meeting is “live.”

We got what you believe to be a blowout GDP number last week Garth, so tell us, why no hike on Wednesday?

There’s only two choices really, either they’re lying, or massively incompetent. I tend to think it’s both.

#117 Change in Tune on 11.01.16 at 10:49 pm

33 s. BBY

Here’s another beauty. Both for rent and to buy:

Listing:

https://www.realtor.ca/Residential/Single-Family/17481301/2754-DUNDAS-STREET-Vancouver-British-Columbia-V5K1R2

Rental:

https://vancouver.craigslist.ca/van/apa/5850651762.html

This house started at $1.9 million in August just after the foreign buyer tax came in and its gone no-bid for months despite open houses every weekend. Previous reductions were to $1.6M and now $1.5.

I think $3,600 for the house is very steep in that area of east van since I see the same price for entire houses on the west side and west van.

Seems to be a lot of these dual rent/buy situations. As a plus it might alleviate the low vacancy rate in Van somewhat.
—————–

What is amazing is that they are actually allowing pets – heaven forbid – and marketing it as family friendly! What a change.

#118 The Technical Analyst on 11.01.16 at 10:49 pm

The market predicts a Clinton win?

Not what I read across the tickers today, or yesterday in the US Markets. Sorry. 94% Trump win US Stock Markets are now predicting.

Link to the 94% prediction by ‘the markets’? — Garth

#119 Pulsars are amazing on 11.01.16 at 10:52 pm

#84 Smoking Man on 11.01.16 at 9:10 pm
I’m never writing a book again.
Fixing the grammar and spelling is not intuitive to me, but I don’t want another editor to touch it, it’s my art.

Why would you fix the spelling?.. ruin it’s authenticity and insult your deplorable readers!

#120 Craigslist Warden on 11.01.16 at 10:56 pm

# 80 Binder Dundat on 11.01.16 at 8:59 pm

Garth-re: comment #42 Proud Female Canadian

“ [racial slur] destroying the images of our downtown Toronto and Vancouver core with their homelessness and harassment of working class women”

Surely this can’t be acceptable discourse for this blog?

No, it is not. Now removed. My apologies for missing it. – Garth

——————————————-

I do walk by the busy Bay Street every morning and afternoon to notice panhandlers of mainly Indigenous Canadians, but they are only sitting on the storefronts of the sidewalk waiting for someone to drop some spare change in their cups. There is no panhandler harassing anyone in a sexual harassment context as that woman claimed using the racial slur.

I do also notice that these Indigenous panhandlers and homeless people are becoming more harassed by the Toronto Police using trumped up crimes which are not enforced such as loitering or panhandling. How many of these “Proud Female Canadians” sent police to harass those panhandlers?

Begging is not sexual harassment. It is dishonourable that a city like Toronto which prides itself on tolerance would treat their own Indigenous people like criminals, especially with #42 Proud Canadian woman accusing these homeless Indigenous people of racist slurs.

Toronto is the pig sty of Canada if they treat the poor like that. I’m glad that the Moderator removed her comment which probably contained more hate against poor people and racial minority groups in Toronto.

Toronto looks to be ok as long the upper class women don’t see panhandlers or poverty. That city is a bad place because they mistreat the poor to create a delusional image of Toronto becoming a “world class city”.

If the city of Toronto and their upper class inhabitants view the poor as scum because they are begging on the streets where their overpaid government jobs or overpriced condos are located, then Toronto is not a place where people should invest.

#121 IHCTD9 on 11.01.16 at 10:58 pm

#107 Love My Kia on 11.01.16 at 10:15 pm
#51 Mike on 11.01.16 at 8:00 pm
==============================

Wow, that was an eyeful! Makes sense though.

I don’t see why anyone opposes immigration, so many of ‘our own’ perceive immigrants as a threat to their livelihood and beliefs. It is also unfortunate that immigrants are used as a means for economic gain.

I do see new Canadians learning to adapt to this difficulty, many families living under the same roof and pooling resources to make ends meet. It doesn’t seem too different from how millennials adapt by failing to launch and living with parents due to their own financial difficulties.
——-

Some of us oppose how it’s done, too many at the worst possible time. Wild Bill is rolling with the idea that jobs and economic growth will happen just by packing more new Canadians into the GTA where 50% or more of them will end up. I don’t see it. I figure half will leave in worse shape than when they showed up, the bulk of the remainder will barely make ends meet, and everyone living in the GTA will pay a significant price for what little economic activity is created. Then there’s the cost of dealing with those who just plain don’t find any employment for months, or even years.

To me, we are gambling because we are out of real ideas..

#122 Rents Up Up Up on 11.01.16 at 11:00 pm

This house started at $1.9 million in August just after the foreign buyer tax came in and its gone no-bid for months despite open houses every weekend. Previous reductions were to $1.6M and now $1.5.

I think $3,600 for the house is very steep in that area of east van since I see the same price for entire houses on the west side and west van.

————–

Despite what everyone has said about a slowing market, I live in south Vancouver Island and I can tell you that rents have only gone up to ridiculous levels. In areas that once had 25% vacancy rates, there is a near 0% vacancy rate, and rents are being charged more than a mortgage for the house despite low incomes!

I wish I could pay $3600 in rent for a 1.5 million house that would cost me $6700 in a mortgage payment.

Instead, houses here are getting 1800 bucks for houses worth $275 or 300k. Two years ago they would have got $1200 if they were lucky. And properties are being rented despite the price and landlords are even trying the realtor trick of having an ‘open house’. Two years ago, landlords would pretty much give you the price you asked for.

Again, the spillover effect of foreign buyers in Vancouver, the ‘Vancouverization of Victoria’ with Vancouver refugees and those cashing out, and the returnees from Alberta. I watched a few open houses and inevitably there is an Albertan license plate at them and a few weeks later that license plate is at the home. I thought all these Albertans were out of money after 2 years of a downturn!

Regardless, this whole rents go down with a slow down in prices and sales better materialize soon!

#123 OttawaMike on 11.01.16 at 11:04 pm

#89 WalMark of sadkatoon on 11.01.16 at 9:22 pm
If Trump wins, Smoking Man will be god here
————————————–
No mention of Mark?

He provides constant comedy here.

#124 Bytor the Snow Dog on 11.01.16 at 11:12 pm

Damn, I really wish I woulda seen post #42 before it was DELETED.

Must have been a real barn burner.

#125 mouldyinYVR on 11.01.16 at 11:18 pm

Hey, where did the cat go?

#126 Mark in Vic on 11.01.16 at 11:30 pm

nice spin Nugent on why sales in Victoria are dwindling:

“The [real estate agents] on the street are saying if we had more inventory we would have more sales,” said Nugent. “We have a lot of frustrated buyers.” ..Real estate sales in Greater Victoria would still be soaring if there was something to sell.

See more at: http://www.timescolonist.com/business/dwindling-inventory-handcuffs-home-sales-in-capital-region-1.2414227#sthash.KCGVZwHP.dpuf

#127 Dosouth on 11.01.16 at 11:32 pm

TD = take dat, and they do!

#128 Harbour on 11.01.16 at 11:33 pm

#106 Context

A one bedroom at $1,150 with all the amenities and lake view sounds pretty good. Must be a lot of vacant highrise condo’s in TO

I paid $900 for a all inclusive furnished basement suite in Etobicoke or whatever it was called when I worked a one year contract in Toronto. The area wasn’t poor, but it wasn’t spectacular either.

I pay $900 all inclusive for a furnished one bedroom basement suite here in Edmonton, but it’s an upscale SW part of Edmonton.

I could save a lot if I shared accommodation renting a two bedroom I guess, but I like my hermit space.

#129 macroman on 11.01.16 at 11:39 pm

Yo Jaguar, those ASE you purchased on Sunday are looking good…Shiny, like your coat.

You one hot cat

#130 domain on 11.01.16 at 11:57 pm

I’ll sit warmly in my gold miner-laden portfolio for the election to kick off. Trump wins, my portfolio wins ‘bigly’, and overnight. If he doesn’t, maybe dial it back a touch, wait for the day of the supposed rate hike to happen, then shovel it all back into the miners. Rate hike is largely priced in now, so once that happens, it will be a repeat of 2016Q1.

#131 NoName on 11.01.16 at 11:58 pm

people that opose immigration are low confidence, low self esteem chickens.

with in first 10 yrs an most of immigrants will get to place in society where most likely will syat reminder of their life in canada, past that point social mobility for first gen. imig. gets progressively harder.
my wife and i are prime examples of this theory, working stiff 10 yrs ago, working stiff now…

i wish that some phd candidate would to some study to prove or disprove this.

#132 M on 11.02.16 at 12:02 am

Gartho baby… show some affirmative action here baby !
Babe at #42 showed some spirit :)
I can’t tell here what a babe with spirit provokes in me for fear I will be deleted :)
I’m immune to dogs though…lol

#133 NoName on 11.02.16 at 12:03 am

how smart is this
http://m.thespec.com/news-story/6942231-hamilton-hospitals-mine-sudbury-patient-laundry-job-losses

#134 NoName on 11.02.16 at 12:10 am

ihctd9

To me, we are gambling because we are out of real ideas..
——

we are but immigrants are not we yet, we might learn thing or two from them.

#135 Alvina Knows on 11.02.16 at 12:22 am

#124 Bytor the Snow Dog on 11.01.16 at 11:12 pm

Have a look at #111.

#136 Andrew t on 11.02.16 at 12:33 am

#115 NEVER GIVE UP on 11.01.16 at 10:38 pm
It would be nice to see a thoughtful discussion on political correctness.

I have always felt that people do not have the right to be insulated from being offended.

– Brown University: banned any speech “making people feel angry, impotent and disenfranchised”

– Colby College: banned any speech “leading to loss of self esteem”

– Bryn Mawr College: banned “suggestive looks”

– Haverford College: banned “unwelcome flirtation”

– University of Connecticut: banned “inappropriate laughter”

– West Virginia University: banned the use of words “boyfriend” or “girlfriend” but instead told students they have to use the words “lover” or “partner”.

http://freedom-articles.toolsforfreedom.com/political-correctness-language-thought-control
—-
I don’t know if you’re new here, but anyone with half a brain can tell that site you linked to is utter horseshit after about 2 seconds.

#137 Freedom First on 11.02.16 at 1:15 am

#113 Ace Goodheart

Yes. Great Post. I saw the game being played on the Herd as a young man.

However, a Freedom First lifestyle is not for most people. It takes a great deal of creativity, the ability to think for oneself, and not shiving a git what others think. The Herd hates free thinkers.

Easier for people to choose slavery. Fact. Look at the debt levels.

007
Freedom First
PHD/Freedomonics

#138 Entrepreneur on 11.02.16 at 1:16 am

I sometimes come here for the comedy, lol.

Referendums are good, keeps in touch with the people so yeah, we should have more referendums like #60 Rexx Rock mentioned. As for the cost, I am sure we could figure that out.

Deficit/debt, that is only buying time; time for a miracle down the road. Oh right, tomorrow never comes.

Blog dog Karma, google about free trade agreements and also google Jim Stanford, proactive strategies or the progressive economics forum. Watch the video and Stanford makes it clear, makes sense and I think would have made a great PM for our country.

#139 jane24 on 11.02.16 at 1:28 am

I knew these stock market hiccups would be coming. To be frank after Brexit, it was obvious. I cashed out some stock trusts 6 weeks ago and am intending to take cruises in 2017 until it is gone. You don’t live forever.

The US election will not finish next week. It will be in the US courts for years no matter who leads on the day. Those two 70 years olds fighting it out will be in wheelchairs before it gets sorted.

As a Canadian living in Britain but coming home once a year the thing that gets me most about TO is the constant gridlock and pollution. I was there in August and you couldn’t see the tops of the high-rises and you could taste the pollution in your throat. Literally made me cough. Shame. NYC is a lot better on this one.

Shame that the TO region has such poor public transit too that you always have to rent a car when you visit and then there is nowhere to park. Adds to the pollution. Costs more than the flight too.

Plus as the child of 1966 immigrants I can tell you that my parents came here with very little to make a new life. They would never have been in the position of saving a million dollar RE industry.

#140 Polls R Phake on 11.02.16 at 3:15 am

6 days until the Trump landslide. I wonder how many people still think the black/women/democrat oversampling CNN polls are correct? Especially now that the MSM says Trump is ahead.

That must mean we will see a double digit landslide for sure.

#141 Good advice bdwy sktrn & Toronto in the Bubble People on 11.02.16 at 4:05 am

#12 bdwy sktrn how dare you give good advice to a self-entitled Moister. Who in their right mind would sacrifice 1 restaurant meal a month for one eaten at home? Get real.
;-)

Toronto In the Bubble People, as in Bill Maher’s Bubble:

-#74 Jessica.
I did leave, for YVR. Just as expensive but with a better view [your polluted duck pond vs. the Pacific ocean], bigger and better parks, mountains, real beaches e.g., Wreck Beach, more nice views], no snow and 420 day. You must not get out much or think the world revolves around Dorkville.

-#57 Michele
Living in Il Bel Paese near Venice and the fact that we get about 25-30 MM international visitors a year, if you mention to them Toronto, you will get +/- 3 standard deviations of blank expressions and where is that? Then launch into a geographical discussion to explain to them where that is starting with: which ocean is the nearest, Arctic, Atlantic or Pacific and no, they do not have Polar Bears there.

Mention NYC and they all go ga-ga goofy crazy, all want to go there or share their experiences. Still have not met one tourist sharing about Toronto, well unless they are from Toronto, even then, not happy campers. I go to downtown Venice about 20 to 30 times a year so plenty of giving, caring and sharing with the international tourists.

You need to get our more.

Having said the truth about Toronto, personally I want more of Venezia’s tourists to flock to Toronto instead of plying my neighborhood half naked in flip flops from the 1st weekend after Easter to nearly the end of October.

It would be nice when walking from Santa Lucia train station to not have to beat from your path a forest of selfie stick wielding tourists, all the way and over Ponte degli Scalzi where #74 Jessica and #57 Michele there is Burger King that I am sure will suit your discerning palate.

But Toronto bubble people, we all know we are delusional, that’s why so many from around the World flock to the shores of your polluted duck pond.
_________________________

BTW Garth, that photo was too funny and post great as usual.

Think TD may be impounding mortgage deductible insurance cost with that bump in variable interest rate.

bsant

#142 Canada Always Cherry Picks Data on 11.02.16 at 4:21 am

At #57: Michele, it’s so damn funny when a Canadian pulls out the Toronto-is-the-third-largest-city-in-North-America routine. Simply put, it isn’t. And it isn’t by a mile. It’s the fourth largest by city proper (an imaginary drawing around a subset geography, without consideration of expansion of future urbanization), which is a laughable configuration. Mexico City, New York City, and Los Angeles are all much larger. However, when you consider metro populations (you know, that figure that really matters for living and taxation purposes), Toronto drops way, way down on the list to the number 9 slot, about the same as Dallas or Houston. Yawn. Chicago, Washington, San Francisco, Boston, and Philadelphia are larger than Toronto. Been to Toronto several times. City is okay at the absolute BEST. You really need to get out more.
https://en.m.wikipedia.org/wiki/List_of_the_largest_urban_agglomerations_in_North_America

#143 May have to eat crow on Trump... on 11.02.16 at 4:34 am

Recent RCP Polling Data (source, date, spread – most recent first)…SPOT THE TREND:

LA Times/USC Tracking, 10/25 – 10/31, Trump +4 – LA Times is as lefty as they get
ABC/Wash Post Tracking, 10/27 – 10/30, Clinton +1
IBD/TIPP Tracking, 10/26 – 10/31, Clinton +1
NBC News/SM, 10/24 – 10/30, Clinton +7

EC vote change in a few days, No Toss Ups (date, vote) – most Toss Up state polling data at or exceeding Margin of Error, so who knows how that will go:

10/30 Clinton 304, Trump 234
11/1 Clinton 294, Trump 244

EC vote Toss Ups worse:

10/29, Clinton 272 – Trump 126
11/1, Clinton 259 – Trump 164

Now, mathematically possible for Trump to win, in a squeaker, as of today.

Add to that Righty Super Pacs, previously side lined, and now pouring cash into the last week of the election (e.g., $25 MM from Sheldon Gary Adelson alone, to righty Super PAC Future 45 plus another $25 MM to come):

No small wonder VIX is going up.

It will go up even more Garth in the next few days if the above trend continues.

Maybe Toronto will see a boom in US boat people political refugees sailing across Lake Ontario.

bsant

#144 Maple Blood on 11.02.16 at 4:56 am

Rates can’t go up, no government can afford that. The TD is adjusting to increased made in Canada risk, nothing to do with the bond market.

The infrastructure bank is a bust, everybody knows that international money isn’t coming in to fix the pot hole in front of your house. International money wants resources to manage their own supply credentials going forward.

The 80 billion the lib tards just blew is your problem now. The pols and union sycophants will be retired on 85% pensions when the bill comes due. Because there is no ‘investment’ coming in you can count on one thing, higher taxes and increasing civil service incomes while you continue to starve.
In other words we need smart money mgmt, like a Kevin O’Leary , not some more social engineering by the secretive Gerald Butts who currently uses Junior T as his animated hand puppet.

So who cares if the market went sideways last week? The TSX is up 23% since January. Focus people, we need Trump and not another Gerald Butts by another name. Remember that Hillary is another disaster called Obama by another name. Don’t forget that the puppet master who controls our petulant PM is the same Gerald Butts who cratered the Ontario economy when he found the brain dead Wynette . Not is the most indebted nation on the planet, now he’s loose in Ottawa.

My investments have outran the TSX by a long shot because it’s pure maple dividend yield, no dogs, no bonds.

#145 James Locke on 11.02.16 at 6:50 am

Trump Landslide. Juniors lib tards are quivering in their hand made booties.

A California poll has Trump up 4 !! If he wins in Cali , he has already won.

The influence of Obama ruined this country, the influence of Trump will crush the lib tarts and we might buck the lib fleas off our backs in time yo save us

Go Mr President,,

#146 Coho on 11.02.16 at 7:05 am

With the decimation of the middle class and the vile ruling elite choking out the last few breaths the USA has left, it really makes talk of stock markets irrelevant for 99.9% of the people. If things keep going the way they are those that think they have a few bucks or that they will actually ‘class jump’ are deluding themselves. You’re not in the club if you do not have the ‘golden stamp’, regardless of how successful you are. The system will get your money some way somehow sooner or later.

As far as Clinton supporters go, either they are still ignorant of the scandals and criminality about her, or they hate Trump so much that they’ll let her and the big banks bleed out whatever is left of the USA (and the world) and take this planet into all out war for spite.

Crazy times we’re in and people have blinders on still focusing on ‘trying to get ahead’ in a world that is spiralling downward and out of control. The vile ruling elite that promotes war, decimation of the middle class, elimination of peoples’ rights and freedoms and hope for the future is sponsoring criminal Hillary, literally in the act of installing her as leader of the free world using its agents in the MSM and government, and is throwing everything at Trump to thwart him. That should tell you something. What is sad is that people will actually vote for this crooked usurper if they think it’ll put a few extra dollars in their pocket. So much for principles. When good men do nothing and are comfortable with the devil they know, evil flourishes – and I suppose we all get what we deserve.

Trump attracts tens of thousands to his rallies. Clinton maybe a couple hundred and she’s cancelled several of hers lately. This should tell us something, too. This talk of a close race is illusion. Many people are afraid to admit to others that they support Trump because they will be ridiculed. Truth is, there are a lot more average people who are struggling and concerned for the future of their children than those who like things the way they are where we’re currently headed – more war, more inequity, more tyranny.

People want opportunity to work, and make their own way and not depend on the peanut government handout with the government wanting to know everything about you as condition of receiving it. A good job is good for one‘s pocket, self-esteem, and hope for their children’s future. The nanny state is a very poor substitute for a society where people have the means to make their own way. However, a nanny state is the result of the transfer of wealth from the middle class to the greedy few whose thirst for ever more wealth is never satiated. This can only end badly for everyone.

When there are haves and have nots, trouble brews. A rising tide lifts everyone. There will always be criminals about, but if the vast majority has enough money in their pocket to live decently, it means a safer world for all of us.

Indeed a bizarre two to choose from on America votes 2016. One flawed (and who of us isn’t) and the other an overt criminal –a self- serving person without scruples. To any thinking American who loves his or her country (or what is left of it), it’s pretty clear as to who is the better choice is in this election.

#147 Maple Blood on 11.02.16 at 7:43 am

Canada Pension complains that Lib Tards are exerting pressure on the fund to ‘invest’ in the new ‘infrastructure bank’. So now it’s obvious where the money is coming from. The charade that international money would invest is a lie. Junior expects to loot the pension plan and fund union make work projects where these civil servants will bathe in new raises and the opportunity the fund managers might have had to earn money now vanishes into the pockets of big unions and leaving the pension finds supposed to be going to Canada’s workers stolen.

#148 pBrasseur on 11.02.16 at 7:55 am

And, yes, this reflects a global bond selloff that’s been quietly taking place for weeks now, as yields rise and prices fall. Garth

Again, as for stocks, panicked sellers will lose. If you keep your bonds to maturity and reinvest in higher yields you’ll do just fine.

http://www.fortunefinancialadvisors.com/blog/most-of-what-you-probably-think-about-investing-is-wrong

This is a great time to be an investor but then again (as this article demonstrate) it is always true.

Yet some things are slowly changing. The days of fake prosperity produced by debt and speculation are fading, if you want to make a buck you should seek true prosperity based on productivity. Invest accordingly.

Nobody should keep an investment-grade bond ‘to maturity.’ I suggest you stick to your area of obsession – equities. — Garth

#149 pBrasseur on 11.02.16 at 8:05 am

Rates can’t go up, no government can afford that. #144 Maple Blood

Yeah sure, just try to explain that to the Greeks and to all nations that went bankrupt! And it has everything to do with the bond market.

Canada is still relatively solid of course, for now, but even here there’s only so much abuse and stupidity the economy can take before «smart money» (of just money) starts leaving.

#150 pBrasseur on 11.02.16 at 8:09 am

Nobody should keep an investment-grade bond ‘to maturity.’ I suggest you stick to your area of obsession – equities. — Garth

Figuring bonds lose value in a rising yields environment.

Yeah that’s true, you should sell at a loss to buy more stuff you can sell at a loss later… Fantastic strategy!

A small weighting of sovereign bonds quells account volatility (how many times do you need to be informed of this?), which is essential for most people so they do not sell assets into declining markets. Any balanced portfolio also needs investment-grade corporates, some high-yield exposure plus inflation-battling real return bonds (up 5% this year). Stick to what you know. — Garth

#151 Zen Headspace on 11.02.16 at 8:11 am

People make the classic mistake of equating the “best city to live in” with “the most interesting” or the “most exciting” or the “coolest” city to live in.

Many people would love to live in Toronto, if they had the opportunity to, or could afford it. Most long term Torontonians take the city for granted. That’s because it’s not as exciting as NYC or Paris or Rome, or as visually stunning as some other metropolises in other parts of the world.

But guess what. Boring is good. Safe is good. Practical is good. The city lacks almost nothing. It’s not perfect, but it’s a great base to come home to after you have visited all the other fun and exciting places like London, Paris, New York, Sydney, Melbourne, Rome, Barcelona, Hong Kong, Shanghai, Singapore, Auckland, Venice, Boston, Los Angeles, Amsterdam, Berlin, Dublin, Copenhagen, etc., etc.

I am always grateful to return to my home base of Toronto after getting a dose of excitement that other cities have to offer. They are all great places to visit, but I wouldn’t want to live there.

For all its faults and shortcomings, Toronto is an gem.

Don’t confuse popularity and recognition with true underlying practical value.

#152 Yuus bin Haad on 11.02.16 at 8:15 am

Actually, I think the markets are predicting a Cleveland win. I mean, we’re all rooting for Chicago; aren’t we?

#153 maxx on 11.02.16 at 8:22 am

#12 bdwy sktrn on 11.01.16 at 6:28 pm

#10 Smartalox on 11.01.16 at 6:17 pm

“will he be devastated and have to move all his stuff across town for 62 bucks a month? or maybe just eat one meal at home instead of out. just one.”

Reasoning like this is why banks continue to be strong and rich. This hike is not by any means an isolated incident.

Meanwhile, debt continues to pile onward and upwards……..

#154 pBrasseur on 11.02.16 at 8:24 am

«For all its faults and shortcomings, Toronto is an gem. #151 Zen Headspace»

I have no problem with Toronto being «a gem», been there enough time to know it is a very nice city.

But it will become less nice if it can’t provide the jobs people need to make a decent living and since Ontario industrial base has been replaced by a unsustainable consumer and government debt binge it’s only a matter of time before that happens

#155 The Technical Analyst on 11.02.16 at 8:30 am

Link to the 94% prediction by ‘the markets’? — Garth

Here are some for digestion. Not my favorite sources, but listed from sources I trust enough to trade with:

CNBC Tweet 18h ago:
https://twitter.com/StockBoardAsset/status/793522167136788480

CNBC (again):

Trump will win the election and is more popular than Obama in 2008, AI system finds

http://www.cnbc.com/2016/10/28/donald-trump-will-win-the-election-and-is-more-popular-than-obama-in-2008-ai-system-finds.html

An artificial intelligence system that correctly predicted the last three U.S. presidential elections puts Republican nominee Donald Trump ahead of Democrat rival Hillary Clinton in the race for the White House.

MogIA was developed by Sanjiv Rai, founder of Indian start-up Genic.ai. It takes in 20 million data points from public platforms including Google, Facebook, Twitter and YouTube in the U.S. and then analyzes the information to create predictions.

CBS News (November 1, 2016, 8:24 AM):
Are markets predicting a surprise Trump win?

Bloomberg
This Chart Predicts Trump Will Win, Unless the S&P Rallies in October
http://www.bloomberg.com/news/articles/2016-09-30/this-chart-predicts-trump-will-win-unless-the-s-p-rallies-in-October

Forget the Polls—Many Signs Point to Trump Win – 2016 Election …
…movement of the stock market is also predicting a Trump win. … Meanwhile, Primary Model predicts Trump will win, with an 87% to 99% certainty.

Sadly, I couldn’t re-find the 94% stat (other than the 87-99% above), but that’s the news tickers for you as they move in seconds, not hours.

Just admit you made it up. It’s quicker. — Garth

#156 CJBob on 11.02.16 at 8:34 am

It’s started with TD Bank, causing panic in the mortgage broker business Tuesday afternoon with a hike in its prime mortgage rate of 15 beeps, to 2.85%. This is a big deal.
____________
It’s really not. This isn’t a trend, it a reaction to the recent changes and as others have pointed out won’t increase a single payment by a penny. It’s an extra $150 of interest per $100,000 only for those with variable rates. 8 years of warnings of rate increases and this is all we have.

Of course not. This is the beginning. — Garth

#157 drydock on 11.02.16 at 8:42 am

#103 Smoking Man on 11.01.16 at 10:08 pm

“It’s driven down our throats on daily basis and policed by the mob, it’s getting more illogical, no more Mother and Father in Ontario. The assault on free speech is gotten to the point of ridiculous. ”
………………………………………………………………..

Watch this video of a professor at U of T defending free speech.
The pc wackjob wants to outlaw pronouns.
It’s sickening.

https://youtu.be/wOHAdfyRUI8

#158 Context on 11.02.16 at 9:00 am

#139 Jane24: – Can I become your tour guide the next time you visit Toronto? We can visit parts unknown in the GTA and will show you all the exciting secrets of the big city including the hinterlands. You will change your mind in time and can show you where to park as they too are hidden with garages everywhere. Cruises are boring and you will regret the voyage as camping out in the wilds under the stars with clean air is an experience to behold.

#159 MF on 11.02.16 at 9:32 am

#51 Mike on 11.01.16 at 8:00 pm

Sorry but I think you are wrong.

We Canadians like to complain, but it’s all overblown and just shows how spoiled we are IMO. Go actually talk to an immigrant and see what their views are and I think you will be surprised.

-Yes house prices here in the GTA are a joke and will come down, but I think I need to defend Toronto and Canada a bit in this regard since I have grown up with immigrants my whole life here.

Many immigrants value some things Toronto (or Canada) has that almost every country/big city does not have:

1) Acceptance. This is huge and often ignored. My GF from south east asia has said many times she can’t believe how people say “sorry” and “thank you” all the time. Toronto may be a little harsher than the rest of Canada in this regard, but there IS still an element of politeness in our society. This makes immigrants feel welcome and (so far) they have responded favourably to it.

2)Less corruption. There is corruption, but no where near the level of corruption found in most other parts of the world. As Canadians, I don’t think we understand how disgusting, self serving, and ineffective almost every other governments on earth are. They do not care how blatant it is and will kill you if you speak up about it.

3) Health care. It is not free as we pay for it through the nose in taxes, but it is available and still a source of pride even though we native Canadians complain about it all the time. In most other parts of the world, if you get sick and cannot pay up right there, you can die and no one can do a thing.

4)Middle class. The middle class is shrinking and ZIRP/NIRP, free trade etc. are to blame but my girlfriend always says here in Toronto she feels as though most people are about the same (at least on the surface). In other countries she has been to in Asia the rich absolutely look down on everyone else and do not care about their plight. The poverty and wealth divide in big cities is very obvious. In many cultures around the world, money = value of the human being. We have that here too, but not to the same extent. Here money= power..but all humans are still sort of seen as equal and capable of making it if they work hard.

5) Jobs, at least in the GTA. We keep hearing about jobs disappearing and GDP going down etc. but from what I have seen immigrants who arrive and are willing to work find jobs in about 3 weeks – 1 month. This is even if they are older parents/siblings. In many parts of the world, if you do not have a set job by 25 you are considered old and it’s difficult to find work. They usually go work in manufacturing facilities in Mississauga for a decent wage too ($15 plus an hour). The kids if old enough work minimum wage jobs yes, but are almost always studying at the same time to land a better paying one (most eventually do and assimilate really well).

6) You are right that some immigrants leave after a few years, but that is the exception not the norm. I am 33, grew up in the 90’s, saw the south asians, then sri lankens, then russians, then chinese, and now filipinos and persians all land here and make it home. The ones that leave only leave AFTER they have grown up, gone to school, learned english, learned to play hockey and eat maple syrup. The approximate percentage that leave is about the same as the native population IMO.

So there you have it. There is a lot of talk on this blog about how bad Toronto and Canada is for immigrants but to be honest I think these people are a little out of touch with reality. The most delusional are the folks defending the EU, which is in the process of imploding on itself. Again, so far we have done a decent job of the whole immigration issue. Europe has not and is an example of what not to do.

The danger with the current Liberal government is that they seem to be delusional as well and are following the failed European example for some reason. Why? Personally, I believe they have some veiled agenda. On the surface they peddle fake acceptance, but deep down I think there is something else motivating them. The Canadian immigration system didn’t need any overhaul and didn’t need anything from those clowns. Anything they touch seems to turn to excrement, so I fear immigration laws might be the same.

MF

#160 Ole Doberman on 11.02.16 at 9:43 am

#76 Aggregator on 11.01.16 at 8:50 pm

TD raised its prime rate so the BOC can cut rates, effectively widening the spread TD earns.

Meanwhile, billions of dollars in govt relief funds later… Calgary home sales are up 15.6% yy in October.
———————————————————-
This is all HAM coming to Calgary

#161 james on 11.02.16 at 10:02 am

#112 Smoking Man on 11.01.16 at 10:29 pm

#104 conan on 11.01.16 at 10:09 pm
RE #84 Smoking Man on 11.01.16 at 9:10 pm

The book is no more?

Kermit the frog kept going, Ronald Mcdonald got laughed at, look at them. : )

That guy who invented the SpitFire? Rejected many times.

Being bold has dangers.
……

Very said, today I went downtown to renew my passport, ran into an old buddy, manager at my old tax farm.

He’s not allowed to tell his people, they did bad on this, he’s forced to lie his ass off. You did good, you’re special, thank you. He has to lie or he gets reprimanded.

Is that really helping anyone?

My ass got bounced out the door from my last gig because I sucked, I bit off more than I could chew. Way out of my league, my co-workers were rocket scientist. I outlasted a Ph.D. in computer science and Ph.D. in math dude. That’s how good they were.

I get warm thank you letter for my effort, invoices paid early and a bounce . Ridiculous.

I would have much more preferred for them to tell me what my shortcomings are so I can improve. Well, I think booze might have had something to do with it. But it would have been respectful know for sure.

That’s how screwed up the world has become.
…………………………………………………………………….
I would have thought you were tossed due to the condition of your cerebral cortex.

http://www.heretohelp.bc.ca/screening-self-tests

#162 The Technical Analyst on 11.02.16 at 10:05 am

Just admit you made it up. It’s quicker. — Garth

Garth, I wish I could make this up, but in my line of work and the volumes I trade with, I can’t make things up, it would cost too much and harm my reputation.

I trade on technicals, not fundamentals, so for me, who wins or loses the US election is completely irrelevant as I have no personal edge. I trade on data points alone and I watch and invest via those tick-by-tick data points.

I’ll cover my trades a little before the election and trade heavy after it, same with the FED rate decision in Dec.

For example, this just hit the wire:

Political Polls ‏@Politics_Polls · 8m minutes ago

#Florida:
Trump 49% (+4)
Clinton 45%
Johnson 2%
Stein 1%

To boil it down, all I am trying to say it the race it much closer than people realize and it’s shifting towards a Trump win.

Trade accordingly.

#163 Mike in Edm on 11.02.16 at 10:12 am

It makes me sick that the ‘infrastructure’ spending that the government (all parties) always end up doing is for the large part, roads, bridges, airports.

How about some projects to shake things up a little? A high speed rail line within BC’s lower mainland, or between Edmonton and Calgary (and even up to Fort McMurray) would be greatly welcomed, some massive solar or wind farms to help with their stupid carbon tax BS, High speed internet for ALL, and how about for free at that? But no… Let’s repave some roads and fix a couple bridges.

#164 Context on 11.02.16 at 10:12 am

Win 10 is a learning experience as am running four browsers on the same machine. In the morning boot up my super browser behind a double blind because its fast. Win 10 sends out the defender as sees an intruder called Going Merry and usually shut down, but today let it wait and when I clicked got a double double or two systems working together to execute the same message. The intruder was me on the network, so learned a lesson to always shut down for the defender to do its scan, as am on Win 7 now.

#165 I am the mighty Oz on 11.02.16 at 11:01 am

Regarding the oracles here who are predicting the collapse of the TO real estate marked: people, do yourselves a favor, call an agent and ask him or her to email you sold listings in your area of Toronto for the last 25 days, and reality will be revealed to you: virtually no changes in the activity or prices. People, use your brains, there will be fewer houses on the market thanks to Bill Morneu’s puppeteers, unless of course you think the Oct 3 CRA reporting changes originated in the minds of Bill Morneu, T2 or any politician in Ottawa, ha ha ha

#166 cramar on 11.02.16 at 11:02 am

It’s time for the Federal Reserve to help Americans reduce debt

http://www.marketwatch.com/story/its-time-for-the-federal-reserve-to-help-americans-reduce-debt-2016-11-02

#167 IHCTD9 on 11.02.16 at 11:28 am

#134 NoName on 11.02.16 at 12:10 am
ihctd9

To me, we are gambling because we are out of real ideas..
——

we are but immigrants are not we yet, we might learn thing or two from them.
_________________________

I have nothing against immigration.

Right now all things considered, I think the plan will not provide any economic improvement. Most immigrants show up and just look for existing vacancies in existing businesses. Virtually none show up and start a successful new business that adds to GDP and revenues. We have high unemployment, a dead economy, wage stagnation, dropping tax revenue, and piles of debt every where you look.

Piling more folks into a climate like this expecting “improvements” of some kind is flawed – I just can’t see even a little opening where some good can come from it.

#168 IHCTD9 on 11.02.16 at 11:41 am

#139 jane24 on 11.02.16 at 1:28 am

Plus as the child of 1966 immigrants I can tell you that my parents came here with very little to make a new life. They would never have been in the position of saving a million dollar RE industry.
_____________________

One of the guys on the floor is a Brit immigrant – late 60’s/early 70’s maybe? He’s around or past retirement age right now. Anyway, he said he came here for work – had 70.00 in his pocket – that’s it.

My Parents also came with their parents with squat – all of them labored for years and then pooled their resources to buy a Farm. None of them ever got rich, my Father is semi retired at 72 collecting OAS+CPP.

I have to say that if the families weren’t so huge back then, they would have had a near impossible time getting started here. And what they did back then has been made impossible to ever do again due to land costs, big government, and globalization.

#169 Capt. Serious on 11.02.16 at 11:52 am

#148 pBrasseur
Again, as for stocks, panicked sellers will lose. If you keep your bonds to maturity and reinvest in higher yields you’ll do just fine.

Not really. You just don’t understand how bonds work. Existing bonds sell at a lower price when yields rise because they’re worth less. They’re worth less if you keep them to maturity too (you forgo the opportunity to invest at a higher interest rate). Anyone who thinks they are made whole by holding a bond to maturity needs to read up on bonds and their relationship to prevailing interest rates. Hint: if inflation doubles and interest rates double, do you think your par value repaid at maturity is still worth par?
Read the aptly named “The Bond Book” by A. Thau and then you’ll know bonds. It’s a tome, but it covers everything.

#170 Trrrrrrump on 11.02.16 at 12:01 pm

Who know what will happen to the Markets if there was a Trump assassination?

He is going to win the election but I’m not sure how long the REAL “movers and shakers” will allow him to be president especially if he ruffles their feathers.

Look at Greece for example…Varoufakis and Tsipras, Their life, spouse and children’s lives were threatened by these same “movers and shakers” leading to the modern day outcome.

Trump I think will not cave in but would rather be assassinated.

#171 Mark on 11.02.16 at 12:12 pm

“Regarding the oracles here who are predicting the collapse of the TO real estate marked: people, do yourselves a favor, call an agent and ask him or her to email you sold listings in your area of Toronto for the last 25 days, and reality will be revealed to you: virtually no changes in the activity or prices. “

Better yet, ask for the past 3-4 years. The result will be the same. Even in Vancouver the ‘decreases’ lately have been exaggerated as the sales mix changes have run their course and are even reversing themselves as lower-end sellers are now in a big of a state of panic.

There’s still time to get out is basically the take-away message, and purchase other assets (like balanced portfolios) relatively inexpensively. The Canadian stocks, especially, seem to have a lot of building momentum behind them with most firms beating earnings and the banks looking to power up for another leg of earnings increases after the past few years of relative stagnation.

#172 jess on 11.02.16 at 12:17 pm

bursting bubbles

What goes wrong when a country is anxious for foreign investment?
========
glaxo case in china smearing the whistle blower

Glaxo’s Fallout in China

By DAVID BARBOZANOV. 1, 2016

After a whistle-blower working for one of the world’s biggest pharmaceutical companies began sending anonymous tips about fraud and corruption inside its operation in China, authorities there moved in.
http://www.nytimes.com/2016/11/02/business/international/timeline-glaxo-fallout-china.html

“tech” press
The Secret Culprit in the Theranos Mess

http://www.vanityfair.com/news/2016/05/theranos-silicon-valley-media
http://www.vanityfair.com/news/2016/09/elizabeth-holmes-theranos-exclusive

#173 TurnerNation on 11.02.16 at 12:26 pm

Equity markets now: Sell the rumor Buy the (election) news?

Go USD.

#174 John of Grant on 11.02.16 at 12:28 pm

#61 Mark “With the government announcement of bringing in 300,000 immigrants per year, wouldn’t this keep up demand for housing and therefore high prices even with a modest increase in rates?”

In a nutshell, no. The immigrants that arrive in Canada bring very little money. So they’re forced immediately into the workforce…………

They are also forced to live somewhere, which increases demand all the way up the chain.

#175 Islander on 11.02.16 at 12:31 pm

So, if I’m 4 years from retirement, paid off mortgage and investing ~40% of income, wouldn’t I want a Trump win??

The markets would temporarily freak, meaning I am buying into a falling market and then rise again making the stuff I bought on sale worth that much more.

There’s going to be some kind of correction in the next 3 years (nothing goes up forever) so why not have an early and maybe pronounced correction?

#176 Hawk on 11.02.16 at 12:52 pm

#139 jane24 on 11.02.16 at 1:28 am

Your post about Toronto may have some home truths, but I certainly have not found London UK, to be any better in any aspect, except public transport. (way worse in most other aspects regarding pollution, noise, cost, etc).

Which area of Britain are you living in?

#177 jess on 11.02.16 at 12:53 pm

toronto is one’s home 1/2 city are renters although…

http://www.landlordwatch.com/

state of disrepair

As of Oct. 28, the city’s multi-residential apartment building audit program lists 30 outstanding property standards violations from a November 2015 audit of the building that flagged 85 problems. Multiple attempts to reach the building’s owners were unsuccessful….
“We’re going to be talking with our city councillors, making sure they know they have to look out for all the people, not just homeowners,” she said. “Don’t we deserve the same rights as everyone else? We pay taxes too, don’t we?”
You might be interested in

http://www.680news.com/2016/05/18/tenant-advocate-website-names-tch-the-citys-worst-landlord/

The proposed licensing system would regulate landlords and allow inspectors to enter buildings for annual checks. It would also require landlords to develop building maintenance plans.

#178 Tudval on 11.02.16 at 12:58 pm

So many people I know in Toronto have less house than they can afford and want.. especially in terms of location… waiting for something: price differentials to go in their favor to make upgrading easier or some divine sign to give them certainty it’s going to be a sound investment, iron-clan job guarantees.. good luck with that, no such things. But if job prospects continue to improve, modest interest rate increases matter very little to people who have paid-off houses, good jobs and looking to spend an extra $300k for a location upgrade. There’s a lot more of these folks than you think.

#179 Victor V on 11.02.16 at 1:18 pm

Quebecor Media to cut 220 jobs, eight per cent of its workforce, and axes two magazines

http://business.financialpost.com/news/quebecor-media-to-cut-220-jobs-eight-per-cent-of-its-workforce-and-axes-two-magazines

#180 Kurt on 11.02.16 at 1:28 pm

Hillary going down? Deary me, I feel compelled to make some tasteless joke about interns…but I can’t remember what “DELETED” code number I’d be aiming for. Seriously, I did appreciate the numbering for the few posts it was implemented for.

#181 WalMark of sadkatoon on 11.02.16 at 1:30 pm


For example, this just hit the wire:

Political Polls ‏@Politics_Polls · 8m minutes ago

Your data is 10 days old. Not 8 minutes.
http://www.fox13news.com/news/politics/212981786-story

#182 WalMark of sadkatoon on 11.02.16 at 1:32 pm

Just an FYI to readers being trolled my Mark. Just ask him to link his source and he’ll disappear.

Eventually when enough people did this on RFD he was banned.

Pretty simple.

#183 Rexx Rock on 11.02.16 at 2:08 pm

I know how hard it is to find an affordable house in Victoria to rent.2 bd 1 bth 800 sq ft dump for $2100.Its supply and demand,everybody wants to live in the paradise of Canada.Screw the owner and rent rooms on airbb,if the owners aren’t already doing it.Victoria household median income is well over $125,000.Any one making under $45 000 a year in Victoria is considered poor.

#184 Doug in London on 11.02.16 at 2:10 pm

Well, quite frankly I don’t know who is going to win this election. If you absolutely INSIST on me giving you an answer, I’ll tell you in 7 days.

As for the stock markets, a lot of stocks and ETFs are on sale now. That’s strange, I thought Black Friday was at the end of this month. Did I just wake up from a 4 week sleep? As I’ve said many, many,many, many, many, many, many, many, many times before you should invest like a governor that gives the engine more fuel when the speed drops. Recently, the centrifugal flyweights dropped sufficiently to pull the throttle open slightly. That caused me to buy some more CAR.UN and SFR-NY. If those flyweights drop any more I’ll scoop up even more stocks and ETFs while they are on sale.

Speaking of sales, it was 10 years ago yesterday that the Honourable Jim Flaherty closed the loophole of tax breaks on income trusts. A lot of income investments when on sale briefly so I scooped up more Riocan and CIBC Income Fund. Another early Black Friday. What amazes me is more people didn’t see it coming, namely Big Jim closing this loophole.

#185 NoName on 11.02.16 at 2:10 pm

usualy when i wach tyt on YouTube i’m screaming at a tv but not today.
12 and 18 min long.

https://youtu.be/tyc8LGOmwWs

https://youtu.be/ApcqXijVzYU

#186 GreaterFool D. on 11.02.16 at 2:11 pm

@109
Something is happening on the CBC, many stories open for comments, even ones certain to provoke anti-T2 rhetoric. There are thousands and thousands of posts ripping T2 and Co. great big new ones and not getting moderated.
—————————————————————–
I noticed that too. Only I’ve been thinking for myself that moderator is probably making out with secretary instead.

#187 Ole Doberman on 11.02.16 at 2:20 pm

Gartho with the way markets are trading and golds unabated rise – Trump might have this in the bag.

He’s obviously payed off the FBI

#188 Freedom First on 11.02.16 at 2:23 pm

#151 Zen Headspace

For all its faults and shortcomings, Toronto is a gem.
…………………………………………………………………………

Yes. True.

However, if one has to commute to work more than a half hour( one hour round trip), then you can’t afford Toronto. If it is a household of more than 1 person, and you both/all commute longer than this, then you are insane.

Mind you. I live a Freedom First lifestyle. My time is priceless.

007
Freedom First
PHD/Freedomonics

#189 Smoking Man on 11.02.16 at 2:28 pm

#157 drydock on 11.02.16 at 8:42 am
#103 Smoking Man on 11.01.16 at 10:08 pm

“It’s driven down our throats on daily basis and policed by the mob, it’s getting more illogical, no more Mother and Father in Ontario. The assault on free speech is gotten to the point of ridiculous. ”
………………………………………………………………..

Watch this video of a professor at U of T defending free speech.
The pc wackjob wants to outlaw pronouns.
It’s sickening.

https://youtu.be/wOHAdfyRUI8
……

Great clip thanks. Can you Imagen if one of the snow flakes he describes downloads my book. We are taking mass triggering of nuclear proportions. Perhaps I should move before I publish.

Screw it, someone need to set thier minds right.

#190 Paul on 11.02.16 at 3:23 pm

#187 Ole Doberman on 11.02.16 at 2:20 pm

Gartho with the way markets are trading and golds unabated rise – Trump might have this in the bag.

He’s obviously payed off the FBI
———————————————————-
Now that’s funny! Just how do you go about offering a bride to the F.B.I.

I would like you to try that one if you have a lot of free time you don’t mind pissing away.Lol

#191 TRT on 11.02.16 at 3:23 pm

Developing story;

Real Estate Board of Greater Vancouver caught overstating benchmark prices for September 2016 by 5%.

Crazy Fraud.

#192 TRT on 11.02.16 at 3:25 pm

Read the “Correction Notice” at bottom.

http://www.rebgv.org/news-statistics/home-buyers-and-sellers-face-changing-market-dynamics

#193 JP on 11.02.16 at 3:26 pm

Folks, to figure out who is most likely to win the 2016 US Presidential Election, all you have to do is follow the money. And by that I mean the odds the online bookmakers are posting for the election. They have no bias in terms of either main candidate, and post the odds that give them the greatest chance of making a buck.

As of today Hillary has a roughly 74% chance of winning and Donald 31%. It’ll be interesting to see how this changes in the next few days.

A couple sites so you can see the odds for yourself:
http://www.paddypower.com/bet/politics/other-politics/us-politics?ev_oc_grp_ids=791149

https://www.playnow.com/sports/other-sports/politics/us-politics/US-Presidential-Election-2016-615516.html

#194 TRT on 11.02.16 at 3:27 pm

Mark is having fun or playing you guys.

#195 TurnerNation on 11.02.16 at 3:27 pm

Yes TCK.US is kaput. The apex, top, nadir or zenith.

#196 Holy Horse Manure Garth...Trump Super Surge on 11.02.16 at 3:30 pm

RealClearPolitics this AM, EU time:

Clinton 294, Trump 244

12 hours later:

Clinton 273, Trump 265

Not buying anything now until well after Nov. 8.

bsant

#197 WUL on 11.02.16 at 3:45 pm

Two potential thoughts on the outcome of the US Pres’l election. A Trump win leaves Clinton spending the rest of her life contemplating that she lost to a fourth rate candidate. That’s OK. A Clinton win? Means that there was only one person in the US that could lose to Clinton and the Republicans managed to find and nominate him. A remarkable feat.

#198 Hey Justin? on 11.02.16 at 3:59 pm

Just when is the budget going to balance itself?

#199 -=jwk=- on 11.02.16 at 4:23 pm

Can someone explain how TD can do this?

My RBC mortgage is the BOC Prime rate minus 0.55%. So it was 2.70-.55=2.15% last year and is the same today. RBC can’t just declare their own prime rate….

#200 Dan on 11.02.16 at 4:29 pm

Win or lose, Clintons will be back in four years. Even in third rate countries spouses are not running together and present president running with them. This is mighty USA today. Who is afraid of that killer elite, today? Empires last shorter and shorter and this one is gone. Gone baby gone. And all of those who found their living in he anus of empire will be farted out…
And out is cold. Right Canada?

#201 Mr. Frugal on 11.02.16 at 4:29 pm

The market seems to indicate a Trump victory. And if not what about a constitutional crisis when Hillary has to pardon herself in order to avoid impeachment. How will the market respond to that?

#202 Marcus on 11.02.16 at 4:30 pm

Trump Wins. The intelligence services of the United States have just turned on Hillary. Hillary and Bill Clinton are attempting a takeover of the United States and will stop at nothing. A coup d’état of this magnitude has never been affected in such a subtly calculated way. https://www.youtube.com/watch?v=ov5kvWSz5LM

#203 Sean on 11.02.16 at 4:31 pm

I like this chart if you look at it another way — A lot of home owners took good advice to sell and cashed in big this year. Massive sales in the middle of the year mean a lot of winners cashing out at the top…. Anyone that didn’t listen and bought, not so much.

http://wpmedia.business.financialpost.com/2016/11/fp1102_vancouver_home_sales.png

#204 Dan on 11.02.16 at 4:35 pm

Kalashnikov is introduced in 1956 Hungarian contra revolution for the first time. Since than every war was playground for the mighty gun. Since than, Kalashnikov is winning….

#205 Tough times are coming realtors and mortgage brokers on 11.02.16 at 4:38 pm

Many of you out of work and soon to be out of work realtors and mortgage brokers have many lean years coming. It’s possible many of you will never work in this industry again. It’s possible this industry won’t exist as we know it. You can keep posting your lies but tough times are coming.

#206 Tough times are coming realtors and mortgage brokers on 11.02.16 at 4:40 pm

TRT on 11.02.16 at 3:23 pm
Developing story;

Real Estate Board of Greater Vancouver caught overstating benchmark prices for September 2016 by 5%.

Crazy Fraud.

_____________________________________
Just the tip of the RE fraud

#207 Context on 11.02.16 at 4:44 pm

I will be posting the final election results in due time for November 8th as shown by mistake on an NBC affiliate and guess who won? They are preparing for the big night.

#208 Sideshow Rob on 11.02.16 at 4:46 pm

Here is how I see the next 2weeks shaking down…
Hillary wins the electoral college big.
Trump wins the popular vote big. It won’t even be close.
Worst of all worlds for the markets. The electoral college awards the presidency to Hillary. Immediately the US has a good old “pitchfork and lanterns” moment.
The FBI charges and arrests Hillary before the inauguration…the timing is critical. They have to beat the impending pardon when Obama leaves. The FBI has far more than enough evidence. The guy on top tried to block all this but is facing a mutiny among top FBI officials and a wave of resignations among the rank and file who investigated the emails for 2 weeks and know Hillary is beyond corrupt.
Hillary resigns before being confirmed and Elizabeth Warren in anointed.
I know. Crazy. But watch it happen.

#209 Julie K. on 11.02.16 at 4:50 pm

Wonder how those neighbours get along?

Bet the next sign going up says something like For Sale.

#210 Nemesis on 11.02.16 at 4:53 pm

#BonusComicRelief,Or… #HRH’sHere?… #HarryPrinceSavoursHogTown’sHottestTotty…

[Telegraph] – Prince Harry ‘has spent past week in Toronto, Canada at Meghan Markle’s house’

…”rince Harry has spent the last week in Canada staying with his new girlfriend Meghan Markle as news of their relationship went around the world, it has emerged.

The 32-year-old Prince arrived in Toronto last Friday, unaware that news of their unlikely pairing was about to break.

He has remained in Canada, reportedly staying in Miss Markle’s house, as the 35-year-old actress has come under intense scrutiny…”…

http://www.telegraph.co.uk/news/2016/11/02/prince-harry-has-spent-past-week-in-canada-at-meghan-markles-hou/

[NoteToGT: I am reliably informed that Miss Meghan is insufferably supple: http://www.besthealthmag.ca/wp-content/uploads/2016/04/Meghan-Mermaid-Pose.jpg ]

#211 Dan on 11.02.16 at 4:53 pm

Toronto is Turdonto

#212 Balmuto on 11.02.16 at 4:56 pm

#196 Holy Horse Manure Garth…Trump Super Surge on “11.02.16 at 3:30 pm
RealClearPolitics this AM, EU time:

Clinton 294, Trump 244

12 hours later:

Clinton 273, Trump 265

Not buying anything now until well after Nov. 8.

bsant”

That’s because they had Florida leaning Clinton and now they have Florida leaning Trump. Note that they still consider this a “toss-up” state meaning it’s too close to call. Note also that Trump still trails in their projections even when they give him Florida. In other words, Trump must win Florida to win whereas Clinton can still win without Florida, although it will be tight. Trump’s still the underdog.

#213 Mark on 11.02.16 at 5:25 pm

“Just an FYI to readers being trolled my Mark. Just ask him to link his source and he’ll disappear.
Eventually when enough people did this on RFD he was banned.”

I have no problems providing sources most of the time. When sources were provided on RFD, the trolls (mostly mortgage brokers) went overboard and flooded the moderators with complaints because they were clearly showing that the narrative they were trying to cast was complete and utter BS. That was ultimately the reason for my departure, the mortgage brokers, trying to suspend reality, that of falling prices, started a campaign to harass the admins. If you go back there today, most of them were later banned for their abuse.

BTW, Ross Kay has basically corroborated everything I was saying years ago on RFD, and he’s willing to put his real name to it and do it publicly on Talkdigitalnetwork. I hope he’s not treated with the complete and utter disrespect that I was, when I brought valuable information and analysis to the table. There’s so much money on the line here, and so much potential for families to be destroyed financially that it would be a very serious disservice to the public to dissuade such individuals. Even if you believe they’re wrong.

BTW, I’m not trolling anyone. I’ve never trolled anyone. You really should apologize to the blog for basically coming here to stalk me.

#214 maxx on 11.02.16 at 5:28 pm

#30 spaceman on 11.01.16 at 7:08 pm

“And where is he getting these billions of dollars? I thought we were broke?”
Precisely.

This new wave of “investment” is a fail prior to launch. Most of it will enter and exit blue collar wallets to pay for excess debt (interest first, of course), which will not stop swelling. Near zero benefit to the economy and much more like treading water. Same old.
Rather that raise rates in a slow and measured way, tptb have decided to spray public funds into the black hole of debt.
It’s a complete fallacy that raising rates correctly is harmful to the economy.
Many comprising tptb have a fiscal morality which acts out far below their intellectual reach.
Brace for impact.

#215 The Technical Analyst on 11.02.16 at 5:32 pm

#181 WalMark of sadkatoon ” Political Polls ‏@Politics_Polls · 8m minutes ago” Your data is 10 days old. Not 8 minutes.

Was not my news, nor did I say it was mine. What I did say was it just hit the news ticker.

#216 NoName on 11.02.16 at 5:36 pm

IHCTD9

There is a merits to what are you saying, but you are looking problem and thinking about solution from wrong perspective imho. I love this country as much i miss my old one, but we have a bit of the problem here in this country of ours.

Let me share something with you. Back in 2005, 3 days before we took possession of our house wife went to in a labour and we got our son, i took out first child to see a brother, than to friend house for sleap over. i went home to finish packing life was good.
Day later we were told that our son has what has and that our life will become lot more challenging. So i took on a chin, but life doesn’t stop… went home and continue to pack and stack a boxes whole day and hole night and at same time keep feeling lost and hopeless…
Following morning went to lawyer to pick a keys up,
and to sign what ever paperwork. he asked me why are you all spaced out are you stonned…
Shortly after I was told that both me and wife have to present at same time to do paperwork, so Mr Lawyer and I went to hospital,
On a way to ward unfortunately for him there was a fire so we got stuck and “locked” in a between two fire zones, for an hour or bit longer. Nurse would pop her head to check on us every so often and remind us to stay there until fire problem was resolved. That was long but ill get to the point soon.
This is where it should get interesting (i think), We talked small talk this and that, than i started asking bit more of personal questions, taboo for “canadians” and now days for me to…, me being relatively fresh of the boat there was no topic that i wont or cant talked about,. him beeing 2nd gen imig. he was bit reserved but he understood why i asked all what i asked. Conversation went in direction about ours upbringing, family’s, struggles and how we got to be what we are, we shared past all the way up to the present.
What i found oddly interesting back then he “congratulate” me how far i got in short period of time all by my self, didn’t understood that back then but i do now.

So what he told me growing up thru 70s it was tough if you didn’t fit certain mold. So he talked how immigrant families would gather together share information and passed same to the brite kids hoping they will make it and pull other kids from community up.

Until he sad that i never thought of it, how “community” can be beneficial for getting ahead in a life, knowing that now i can see that clearly every day. I can tell you immigrants are not scared to share information that they know and might be beneficial to others, but “canadians” are dont know why but i honestly believe its true. We are all about kepp your mouth shoot. But when it comes to immigrants, information tend to stays with in community, doesnt spread out, for the very simple reason language barrier.

So you have an recent immigrants reaching close to same “level” as “domestic” canadians with in 3-5 yrs. By looking it from outside it does look that something is fishy there, but in a fact it isn’t, it is just free flow of useful information.

How long we Canadians obey by “good fences make good neighbors”, ‘you don’t talk bout money to anyone”, and all that nonsense we will not reach our full potential and see immigrants in a light we should.

I steel think you are a good guy!

that was very long…

#217 AACI Home-Dog on 11.02.16 at 5:48 pm

DELETED

#218 AACI Home-Dog on 11.02.16 at 5:56 pm

awww shucks. Hope it made you smile anyway, Garth !
cheers, rt

#219 Context on 11.02.16 at 6:02 pm

#184 Doug In London:- CAR.UN, I would have given that one a pass so explain your rational with the low yield and tax advantage.

#220 Discover Numbeo Zen Headspace on 11.02.16 at 6:04 pm

Go to Numbeo #151 Zen Headspace to discover just how fabulous your gem Toronto is relative to EU cities you cite to live in, just for the heck of it:

https://www.numbeo.com/cost-of-living/

I live in a penthouse 70 sq. m. condo, 2 bdrm, granite, marble, wood everywhere (foyer just marble and granite) verey close to Venezia that I bought last year for the princely sum of Euro 98,000 with A/C. Everything I need is within a 10 minute walk.

Within 9 minutes I am in piazzas alive with people and no cars…the Italian Passegiata. Twice a week, we have open air markets with you name it.

I am rarely here as I travel most of time in the EU. When I return, I love my Italia.

The produce and food here make anything in comparison from Toronto hideous. We do not use steroids or growth hormone in our food.

60 km East of me are some of the finest beaches in Europe – 50 km of continuous, groomed, beautiful Adriatic beaches.

From my terrace, I see the Alps every morning – all of 15 km away.

In a few minutes by car, I can visit relatives in the countryside with vineyards and excellent wine and food which you pay thru the nose for in Toronto.

3.5 hours by train, I am in Milan and its fashion district. Same time to Florence. 5.5 hours to Rome. Another 1.5 hours to Naples, Capri, Pompeii, Vesuvius and the Amalfi Coast.

Besides NYC, you can get to where in that time? Oh, Montreal, a knock off, sort of, of France.

La Dolce Vita, Il Bel Far Niente and La Serenissima is something you will never replicate in frenetic Toronto. If so, they would all be visiting you in droves…but they are not.

I have lived in Trauma for about 4 years.

To say the least, it is nothing more than a dime a dozen North American modern steel and glass high rise city with little to distinguish it other than its tower, traffic jams, a yellow haze and an adjacent polluted lake.

Oh yes, it has one of the World’s worst airports to get processed thru.

Nice place to visit, but I would not want to live there anymore, not for all the tea in China.

Each his own. You keep your gem and I will keep mine, that the whole World comes to visit.

bsant

#221 Tulip Fever Redux on 11.02.16 at 6:23 pm

Garth: Thank you for your blog.

Here is language in a YVR real estate listing you wouldn’t have read 6 months ago — especially for a westside detached house: “Owner is motivated, moving out of country, try any offers.”

TRY ANY OFFERS. That says it all. https://www.realtor.ca/Residential/Single-Family/17464964/3235-QUESNEL-DRIVE-Vancouver-British-Columbia-V6S1Z7

#222 Zen Headspace on 11.03.16 at 6:42 am

#220 Discover Numbeo Zen Headspace on 11.02.16 at 6:04 pm

To say the least, it is nothing more than a dime a dozen North American modern steel and glass high rise city with little to distinguish it other than its tower, traffic jams, a yellow haze and an adjacent polluted lake.
——————————————————————-

Yet millions continue to leave the hellish countries and regimes they were cursed to be born in, to flee to Toronto in droves.

Like I said, it’s not perfect by a long shot. But it’s still consistently ranked in the top 10 best cities to live in. Rightly so. Now, I agree that those rankings really should be “the best of the worst”, since most cities are pretty awful for one reason or another.

Anyway, the city or town you describe is like dozens of European hamlets where people go to vacation. The world is not beating a path to those places in order to survive and make a living. If they did, they would all turn into giant behemoth metropolises like Toronto, New York, Chicago, LA, Paris, Rome, etc.

By the way…for someone with a perfect lifestyle eating in trattorias and strolling through piazzas every day, you seem angry and resentful.

Chill out dude. Ciao.

#223 Doug in London on 11.03.16 at 11:01 am

@rational, post #219:
You call a yield of 4.4% low? That’s actually not bad, better than a lot of stocks out there. Not only that but I bought it at an average of about $24/unit (in 2013 when all REITs were on sale) and sold some of my holdings earlier this year at $31 and bought it back recently at $28.90 with an offer in for more at $28.00. Not a bad deal. So, what are YOU investing in for yield?

#224 Doug in London on 11.03.16 at 11:06 am

@Zen Headspace, post #222:
I don’t see any sign of being angry or resentful in his post. It looks to me like he has a good life in Italy. It looks more like YOU are the one who is angry and resentful.