Squished

If you ever doubted that this pathetic site stirs the loins of the people, you should read the warm notes I receive. Like this one, from a dude named Richard who runs a little hosting/web design company in Ladysmith BC:

Time for your elitist Govt Blog to get SQUISHED….this is going to be an exciting year watching you and your ilk get squashed.

God Bless President Trump……

Thank you, Richard. Among the (other) first reactions to the goofy billionaire leader of the free world: stocks were ambivalent, moving in the same close range they have for a couple of weeks now. After Janet Yellen’s speech yesterday the US dollar and bond yields went up. The Mexican peso gained a little and the loonie lost a bit – with speculation it will likely move down to 73 US cents before long.

The Trumpster’s fist-waving ‘America first – Buy American, Hire American’ speech, combined with his policy on free trade with Canada and Mexico, is causing panic in Ottawa. Says the White House web site: “President Trump is committed to renegotiating NAFTA. If our partners refuse a renegotiation that gives American workers a fair deal, then the President will give notice of the United States’ intent to withdraw from NAFTA.” Kiss. Of. Death. Remember that 75% of our exported stuff flows across that border. It’s our blood.

Anyway, there are many deplorables among us who love the dude for the simple reason they think he pokes old, white rich people in the eye, overlooking the fact he’s also an OWRG. Economist Robert Shiller (the man who called the US housing bust, plus the 2008 stock market crash) says Trump will usher in an epic financial disaster. That’s extreme. But so is believing economic growth and millions of new jobs can come from rhetoric. The money needs to originate from somewhere. Let’s hope it’s not out of our sorry Canadian hides.

BTW, if you see this blog lying squished and bleeding on the side of the highway, you know where to call with congrats.

 $    $    $

Speaking of winners, how about the genius who beat out ten other bidders to walk away this week with the keys to 244 Bain Avenue, in Toronto? That took guts. Plus bags of money.

As mentioned, the open house last Sunday was jammed with people trying to squeeze into the Lilliputian foyer, past the scant living room and into the tired kitchen with its old, tarted-up, painted cupboards overlooking the grassless backyard and its refuse-strewn laneway parking spots. This narrow, ugly structure on an artless street of semis, rowhouses and endless cars was the object of intense interest only because there’s no competition. With a scant 20-odd days of inventory in the entire region, pent-up buyer demand explodes when anything livable crops up, even if the closets are full of cracked plaster and duct tape was a primary reno material.

Well, 244 Bain went on the market at $1.399 million, which seemed a stretch (although that dour, squat semi next door fetched $1.1 million a few months ago). But after the offers were tabled at 7 pm one night earlier this week, the ‘winner’ emerged having spent $1.727 million. With double land transfer tax and closing costs, that comes out to $1.8 million.

Here is the reason, expressed by a highly experienced Toronto realtor: “Riverdale is a highly desirable neighbourhood for both families and professional couples. It was a detached house in an area with many semis and row houses, had 2 car parking and was livable the way it is. It did go higher than it should have by about $125K which, I believe can be attributed to pent up demand due to a lack of listings over the xmas/new year break.”

All valid points. But still a crap house. And some of us remember when almost two million dollars bought a decent place, or still does in other hoods – like this.

The moral: if you’re going to buy a house in a hot market full of hormonal young families with way more access to credit than wisdom, never do it after a holiday. So long as there is a listings drought, prices will continue to escalate. Each insane sale, like this one, sets a new floor for the ones that follow, making every owner on the street feel fully endowed. This will keep happening until it stops. Then the winners won’t be the buyers.

125 comments ↓

#1 mitzerboy aka queencitykidd on 01.20.17 at 5:25 pm

when pigs fly … everything will be ok
till then
its friday i’m in love
https://youtu.be/wa2nLEhUcZ0

#2 Make America Great YET Again. on 01.20.17 at 5:25 pm

https://en.wikipedia.org/wiki/Make_America_Great_Again#/media/File:Let%27s_Make_America_Great_Again_button.jpeg

There are a large amount of people easily swayed to one side when they pull out that old campaign, like smoking man, you can see in the archives where he supported hilliary.

#3 Mike on 01.20.17 at 5:26 pm

Whatever.

Single family Canadian housing will never crash “crash”. Rich Canadians with high salaries afford these houses easily at any price realtor tells them.

Plus there is shortage of land in Canada, you know. That is another main cause. Unfortunately We are just a second largest country in world. If it was largest country then we could have made housing cheaper. Anyways, I just believe my realtor. He is a genuine guy.

#4 Doug t on 01.20.17 at 5:29 pm

The sun will keep shining until it doesn’t

#5 Kevin Li bought 244 Bain on 01.20.17 at 5:34 pm

244 Bain will become the Kevin Li marketing HQ to sell the great wide open and GREENBELT in the GTA North to his clients.

Kevin, there’s way more GREENBELT and open country further down South in the US. Better value as well, better schools and better medicare. Not free but better. Ah, you want free of course…

#6 apparat on 01.20.17 at 5:36 pm

I have been following this blog for quite some time, never posted. Appreciate the information passed on.
Garth, I’m curious what you think is going on in Victoria. I’ve heard you mention prices will be going down soon following Vancouver’s lead. Here on the ground though, young families are getting priced out fast. Nothing to buy that wouldn’t be a stretch for families, at the same time, nothing to rent either. I don’t understand how prices can come down here anytime soon, only up looking at the next year. What is your rational?
Coming on our 3rd eviction in 3 years. Stressed.
Greatly appreciated.

#7 Doug in London on 01.20.17 at 5:37 pm

As I said in response to yesterday’s post Second Thoughts, if you own one of those overpriced, over $1 million houses, cash in your winning lottery ticket NOW!!!!

I hope this blog doesn’t get squished anytime soon. I find it not only informative but also amusing and should add part of the amusement is some of the comments I read here.

#8 Smudgekin on 01.20.17 at 5:43 pm

Come on Garth call it what it is – pokey Riverdale plywood. This Bain Pain sits between two legions of public housing. It looks like Archie Bunkers place. And no American in their right mind would pay > 200K tops…

At Logan & Bain the BBC reports wayward, out-of-control squirrels rob convenience stores of candy bars. Imagine what they’d do to an attic or to your pooch in the backyard.

The Carpet Mall has a tire place. You’ll need winter tires to climb Bain from Logan.

Trump like Nixon is the wrong kind of personality for president. Though the latter understood the need for detente with China. Thank God for two term maximum.

#9 Wake Up Canada on 01.20.17 at 5:48 pm

I hope Canada gets a spanking from Trump. People here need a wake up call, Canada is delusional. I bet Trump will wipe his behind with our selfie dummy we call Prime Minister. We are in big trouble up here and people seem to be blissifully ingnorant to the perils that lie ahead. Racking up debt, buying slanty semi’s with money they don’t have. Bring on O’Leary. . .you don’t fight a tiger with a pussy cat.

#10 common sense on 01.20.17 at 5:51 pm

Historic Day, Historic Post…

Welcome to the Brave New World….

#11 Ernest on 01.20.17 at 5:52 pm

Garth,
It’s funny how you repeat that trump is going to be an economic disaster and yet failed to mention that Obama doubled the American deficit which is more than all the previous presidents combined.

I have never used the term ‘disaster’ nor has this anything to do with US debt (which is utterly manageable). It’s all about trade, amigo. — Garth

#12 Kevin Li Bites! on 01.20.17 at 5:53 pm

Congrats Kevin on your new purchase. I hope your Audi fits in the lane way. Your new neighbour is “rich Mike.” How wonderful that you both found each other in delusia. I know your both richer than you think, from that massive mortgage you guys both took out. Enjoy the spoils of your labour on the way down.

#13 not 1st on 01.20.17 at 5:57 pm

So canada needs to obviously grow up. Olear said it right. We are the laziest lowest productive nation in the G20. We want to just haul some water and wood and dump it over the border and call it a day. Thats not good enough any more.

Here is a thought – we have a large indo chinese immigrant population here. Why not leverage them back their countries of origin and create some massive bilateral trade blocs. In exchange we will let them buy houses in Vancouver and Toronto. Make it so.

#14 Make Canada Great Again on 01.20.17 at 6:01 pm

Man we are headed for a world of hurt, what looser, would spend all that money on that ugly house? People have lost their minds. People are too busy up here focused on what gender they identify with and keeping police out of the pride parade, mortgaging themselves up to their eyeballs and they don’t realize that the sky is falling on Canada. But it’s ok, because Justin had nice hair. We are screwed.

#15 Ponzius Pilatus on 01.20.17 at 6:02 pm

Shucks!
The world just crossed over a very (potentially) dangerous crossroad, into unkwnown territory, and Canadians are still focussed on RE.
Can’t say it surprises me, thought.
God save Canada!

#16 Ponzius Pilatus on 01.20.17 at 6:21 pm

#4 Doug t on 01.20.17 at 5:29 pm
The sun will keep shining until it doesn’t
————–
Your slogan must be : The meek shall inherit the World.
Let’s get a little pro-active here, shall we.
Let’s find ways to Trump proof our economic well being.
Recheck your finances. I’m sure Garth has some pointers.
Revaluate your positions in RE. You know Garth’s opinion.
Cancel or rebook your American vacations.
Seek out Canadian products. I know it’s tough
Be creative.
This is not the time to lie idly on the couch.

#17 Blacksheep on 01.20.17 at 6:25 pm

“As an orator, he’s grade school. — Garth”
——————————————
The US has had plenty of articulate politicians that promised change, but failed to deliver. Forget the term “popular vote” because in accordance with the constitution, the US citizenry has elected a new President that self identifies as a systemic outsider.

The people need to shake the Left vs Right distraction that has divided us since democracy began and realize people agree on 85 % of policy.

The old topic’s that get constantly brought up to stir the pot: Pro choice vs Pro life, Gay marriage or Gun control are used as wedge issues to keep us distracted and bitching at each other, while the ‘system’ proceeds with it’s agenda, spending trillions on unnecessary foreign wars as the US infrastructure crumbles and its citizenry suffers.

Donald….you’ve been talking big, now it’s time to prove your not just another full of shit politian.

I remain optimistic.

#18 hope & ruin on 01.20.17 at 6:26 pm

Schiller is wrong. Trump may be crazy, but he is also big on leaving a legacy and he won’t be remembered as the guy who plunged America into recession. Look, he already has his trade partners on notice, who do you think will blink first? We have T2 negotiating for us lol. We already lost, no wonder Trump respects Putin.

#19 PacMan on 01.20.17 at 6:29 pm

Thanks for sharing Richard’s idiotic thoughts. Brought a smile to my face, on a day when I did not find much pleasure in this world! Stay great, dear Garth

#20 Lulu on 01.20.17 at 6:29 pm

Trump just took all instances of Civil Rights, LGBTQ Rights and Climate Control off the official White House website. Oh my lord, this is the beginning of a fascist America.

I’ll seriously stock up supplies and water, and diesel oil in my makeshift shelter for emergency use. This is getting very real. You sellers and buyers can eat drywall but I can’t …lol

#21 RentYVR on 01.20.17 at 6:33 pm

Crazy times indeed. On the plus side the equity markets keep going up and the BoC keeps saying it’s going to cut so my positions are rocking it.

#22 Alice on 01.20.17 at 6:33 pm

Calgary’s going through the ringer. This is Vancouver’s future.

https://betterdwelling.com/city/calgary/calgary-real-estate-sees-detached-homes-decline-7-2016/

#23 mark on 01.20.17 at 6:33 pm

Was having a look on viewpoint, saw a 4 bedroom place, looks immaculate inside, on an acre, near a lake, outside Bridgewater NS under 90k, last sold for 110k in 2011. Also has gigabit fibre. If you could remote work, why would you stay in a hellhole like Toronto? Those kind of prices certainly ratchet down the risk, a big loss is 20k.

#24 Kiss. Of. Death. on 01.20.17 at 6:36 pm

Kiss. Of. Death. Remember that 75% of our exported stuff flows across that border. It’s our blood.

—-

You are quite dramatic today, Garth.

You almost sound like a liberal snowflake, crying for the economic equivalent of safe place.

Check out the hard numbers of NAFTA on “growth” of real household income in Canada from 1984, with the projections up to 2024.

Seems like in reality NAFTA is the Kiss.Of.Death.

https://www.bennettjones.com/Publications/Updates/Growth_in_Real_Household_Income_in_Canada__1984-2024

#25 Bat Flipper on 01.20.17 at 6:40 pm

let’s not sugarcoat it:

“This strategy starts by withdrawing from the Trans-Pacific Partnership and making certain that any new trade deals are in the interests of American workers,” the release stated. “President Trump is committed to renegotiating NAFTA.

Trump’s strategy entails first withdrawing from the partnership, renegotiating its terms, and withdrawing completely if partners refuse the renegotiation. It also said that the new administration will ensure that “any new trade deals are in the interests of American workers.”

Trump holds all the cards here. Many nations have a large amount of their GDP dependent on the free flow of commerce across borders to the USA. Especially Canada. They are our biggest trade partners

U.S. goods and services trade with Canada totaled an estimated $662.7 billion in 2015. Exports were $337.3 billion; imports were $325.4 billion. The U.S. goods and services trade surplus with Canada was $11.9 billion in 2015.

This goes with imports, material goods and investments as well.

Investment
U.S. foreign direct investment (FDI) in Canada (stock) was $386.1 billion in 2014 (latest data available), a 1.0% decrease from 2013. U.S. direct investment in Canada is led by nonbank holding companies, manufacturing, and finance/insurance.

Canada’s FDI in the United States (stock) was $261.2 billion in 2014 (latest data available), up 11.1% from 2013. Canada’s direct investment in the U.S. is led by manufacturing, finance/insurance, and depository institutions.

Sales of services in Canada by majority U.S.-owned affiliates were $127.6 billion in 2013 (latest data available), while sales of services in the United States by majority Canada-owned firms were $84.4 billion.

The biggest hit could be changing the way Canadians invest in the USA. Trump may want to keep US Citizens buying and investing in USA by limiting their ability to invest in USA while taxing foreigners who try to make a buck off their economy. ie. foreign investors.

As someone, as I’m sure most or all who read this blog, have some form of investments in USA, import/export business, work for a company that deals with the USA, or owns Canadian real estate (Trump can easily give this a whack), then his comments should be striking fear into your pocketbook.

Not saying you wouldn’t be able to invest in USA, but Trump could impose additional tax implications

#26 Braj on 01.20.17 at 6:41 pm

“Time for your elitist Govt Blog to get SQUISHED….this is going to be an exciting year watching you and your ilk get squashed.

God Bless President Trump……”

What a thoroughly confused individual..

#27 For those about to flop... on 01.20.17 at 6:51 pm

North America is a thousand piece jigsaw puzzle.

The U.S has 980 of the pieces.

Canada has ten of the missing pieces.

Mexico has the other ten.

You can still see what the big picture is without us…

M42BC

#28 joblo on 01.20.17 at 6:55 pm

Like I been sayin:
Buy USA made when you can!

Besides, what’s really in your control?

#29 Kurt on 01.20.17 at 7:02 pm

“Time for your elitist Govt Blog to get SQUISHED….this is going to be an exciting year watching you and your ilk get squashed.”

“So bad it’s not even wrong.” – Wolfgang Pauli

I hope you find resentful incoherence entertaining, Garth. I don’t know how you put up with it.

#30 Ponzius Pilatus on 01.20.17 at 7:03 pm

Never watched a Presidential Inauguration before.
Gotta give Trump credit. For a 70year old, he looks pretty good. Did he deliver all the speech from memory?
Surprised to see how civil Obama and Trump were to each other. Professional courtesy of the crocodiles?
Did not know that Jimmy was still around. Still nice smile. Always been a nice, decent guy.
No place for nice guys in American politics.
.
America still basically a Theocracy.
The Rabbi was speaking, but no Imam invited.
No surprise there.
But where was Tammy Fay.

#31 Fed-up on 01.20.17 at 7:08 pm

Each insane sale, like this one, sets a new floor for the ones that follow, making every owner on the street feel fully endowed

————————————————————————-

And this is exactly why foreign buyers who do not earn and live by the metrics and wages in Toronto and Vancouver are, and have always been, dangerous when it comes to sky high prices. Just 1% need to buy in any area and over-pay for a piece of crap such as the one in today’s post, and everyone in the neighborhood will expect that amount or more.

Not sure who bought this one, but we have seen countless examples of this in the past 10 years in YVR and the GTA. Then of course, every other local idiot piles on in fear of missing out.

#32 Smartalox on 01.20.17 at 7:08 pm

Wow. Just wow. Let’s count all the things that Richard got wrong:

– Elitist? This blog is open to anyone, no membership required. The comments section (evidently) even more so. Strike 1.
– Gov’t? Garth’s been out of government for years, Stephen Harper saw to that. He’s also no fan of the replacement, either. Strike 2.
– Exciting? I’ve been reading this blog since 2009. It’s never been exciting. Strike 3. You’re out.

Bonus: I’ve been following Garth’s advice since 2009, and have made far more than I might have lost. The prospect of ‘getting SQUISHED’ is unlikely.

In fact, my boss told me I got a raise today: 5.5%; with that, my salary has increased 52% in the past 5 years. So yeah, ‘SQUISHED’ is unlikely.

What I don’t understand is why Trump supporters are still so angry? Why do the conspiracy theories persist? Their guy WON the election! Doesn’t that make THEM the elites, now? Doesn’t that PROVE the liberal-centric, new world order does not exist, or even if it did, that it is crumbling? When your team comes out on top, you’re no longer the underdog.

So have at it. Trump has the keys to the kingdom, and it’s time to stop complaining, and get to work. Trump took an oath to uphold the constitution, and I’m sure that his supporters expect him to take it literally. His nominees pledge to serve the country, so if any of them end up serving their own interests, or lining their own pockets, I’d expect Trump’s patriots to act on that, and pretty quickly.

Right? I mean, drain the swamp, and all that, right?

But here’s the swindle: Trump’s supporters are now so primed to reject any media report that the Commerce secretary is on the take, or that the Health secretary is in the pockets of drug companies, that they might actually get away with it, while Trump supporters bay and moan about ‘fake news’, that turns out NOT to be fake at all.

Same old sheep, just these ones are foolish enough to think that THEIR wool is any different.

#33 chris on 01.20.17 at 7:10 pm

Stratford and Toronto not the same thing really
We are comparing apples with oranges here IMO

#34 Linda on 01.20.17 at 7:12 pm

Well, the markets seemed to have done fairly well today, though the much Trumpeted (sorry!) inauguration crowds were – well – not in evidence. Tomorrows Women’s March is anticipated to far exceed the numbers who came to see the Donald ascend to POTUS. Seems like the honeymoon is over & the man just got in.

#35 ROTFL on 01.20.17 at 7:12 pm

Trump’s oratory is grade school?

Well yes, that’s why he won.(1* 2*)

No aerial news video of DC riots?

Well, no, because DC airspace is locked down tighter than a gnat’s arsehole during inaugurations; look up the NOTAMs (so sexist! Trump loves girl flyers!)

1* — Every inauguration address: http://avalon.law.yale.edu/subject_menus/inaug.asp and a site to grade their readability: https://readability-score.com/url/

2* I have linear feet of Churchill books. But I understand the difference between oratory and populism.

Have at it. Post us a trendline of inauguration speech grade level by year…

#36 Freedom First on 01.20.17 at 7:15 pm

Yes. Squished. And that would be Canadians spending Mega$$$$$$$ they don’t have to live in a piece of $hit house. And later, wonder what the hell were they thinking.

Whether it is a house, or anything else, I buy it because I like it and/or I consider it an excellent value. Keep in mind, as I get emotionally attached to nothing, I can sell anything in the blink of an eye. And when you can buy and sell anything in the blink of an eye at a price very satisfactory to you, it means you’re doing it right on both ends.

And also, it means you have no one to get in your way of always doing the best thing for yourself/family. Being flexible in this world is a must. People have gotten soft. And so have some of our leaders.

#1
Freedom First
Master of Freedomonics

#37 crowdedelevatorfartz on 01.20.17 at 7:18 pm

Well its good to know that Vandelusia housing sale prices have been usurped by Sewerdale Typhoid fever…..Brain swelling is directly proportional to the housing price.
I did not think it possible for people to be stupider than Vancouver house buyers but Kevin Li has proven me wrong

#38 Smartalox on 01.20.17 at 7:19 pm

@Blacksheep #17:

Pro Choice vs. Pro Life, Gay Marriage vs. Not, these ‘distraction’ issues, as you call them were legislated years ago.

But instead of ‘case closed’ It’s conservatives that keep bringing up these ‘distractions’, re-fighting stale battles, instead of solving problems related to employment and the economy.

Why?

#39 Timmy on 01.20.17 at 7:20 pm

Like Bill Maher said, Trump is an orangutang. How could anyone else have hair like that? He sent Bill his birth certificate to prove that he wasn’t one. Yes, true story.

http://www.huffingtonpost.com/entry/bill-maher-donald-trump-advice_us_5880ac54e4b04b69667e98ee

#40 mike from mtl on 01.20.17 at 7:21 pm

So pleased that years ago I ditched broadcast TV, no radio and, not reading MSM. All this noise I have no idea what you’re all yammering on about as who cares about your opinions, thoughts as if that changes anything anyway. I’m not that old but, enough to know nothing fundamentally changes in my short existence.

Take care of your own affairs and things that concern yourself and those you love personally. Everything else is pure noise.

#41 Timmy on 01.20.17 at 7:22 pm

Donald the Unready

https://www.nytimes.com/2017/01/20/opinion/donald-the-unready.html?_r=0
“So there you have it: an administration unprecedented in its corruption, but also completely unprepared to govern. It’s going to be terrific, let me tell you.”

#42 crowdedelevatorfartz on 01.20.17 at 7:25 pm

@#21 Freedom First
“Keep in mind, as I get emotionally attached to nothing….”
********************************************
Ummmm, methink thou dost speaketh a lie.
Whenever thou gazes upon thy own reflection… thou feels a “stirring” in thy loins and dizzyness ensues.
Protest not thy Narcissistic Nabob!
Thou hast brought disfavour upon thyself with endless self gratification.
Humility knows many friends
Arrogance but few

#43 45north on 01.20.17 at 7:26 pm

$1.727 million.

Here’s my post from Sunday:

http://www.greaterfool.ca/2017/01/15/until-they-dont/#comment-494846

basically you have to have a household income of $250,000, have $340,000 down payment and then your mortgage payments are $6300 a month!

so let’s talk Donald Trump. Yeah these are uncertain times but the certain thing is the guy who bought 244 Bain needs the money: he cannot reduce and he cannot defer his income. There’re a lot of people who have no flexibility because they signed big mortgages. Who is going to save them? The Premier of BC, Christy Clark said she would extend credit to home buyers in BC but she said that to save her job. When she gets thrown out who’s going to save them?

I’m thinking nobody.

#44 };-) aka Devil's Advocate on 01.20.17 at 7:28 pm

It’s a vicious cycle. Lack of inventory is pushing prices and no one is selling, despite the high price they could get, because there is nothing to buy.

Half think it’s going to tank and the other half see no end in sight. Interest rates aren’t likely to be let rise enough to have any impact. Even if they did buyers buy the payment not the price. Interest rises praises adjust such that the payment stays the same.

Not long ago (15 years) you could buy a Kelowna South post war bungalow for a quarter what you’d have to pay today. Why would it be any different in another 15 years? No more, or less, difficult to believe today than it was then 15 years ago

#45 Dan.t on 01.20.17 at 7:32 pm

#3 Mike, you keep saying that- (that Canadians have high incomes) are you joking? Not sure if you are being sarcastic- if you are, it is pretty funny. Now especially making the comment that Canada is running out of land. Hopefully global warming makes Nunavut a really nice place to live year round.

and “BTW, if you see this blog lying squished and bleeding on the side of the highway, you know where to call with congrats.” that seems to be every other weekend when you say something that makes sense.

Canadians don’t like to hear that they are full delusional. I know, Canada has high incomes and it’s super cheap to live there, thats why I think we should all rush to get a 570 square foot apartment in Van for only $599,000. It will only go higher and 1.8 million dollar shit houses in GTA are super cheap… especially when you and your girl are both working. I m happy things are going so well there.

And again, just an observation from outside the “bestest” place in the entire world to live. Way to f**k up Canada people. I guess there will always be Nunavut.

Oh, and for those who think this will go on forever…near asset cycle peaks, (that’s you housing), prices tend to go parabolic (think nortel at $124/ tech bubble)….our fear cycle is coming to an end in a few years (I hope sooner but…) so there will be a lot of stupidity and then a lot of pain. No one to blame but yourselves for 700k P-O-S townhouses and 500K 1 bedroom apartments.

Good times!

#46 On the edge on 01.20.17 at 7:43 pm

DC riot live

https://www.youtube.com/watch?v=Zl12By76kyY

#47 Barb on 01.20.17 at 7:44 pm

“Richard who runs a little hosting/web design company in Ladysmith BC:

Time for your elitist Govt Blog to get SQUISHED…”

Unlike you, Richard, many many people don’t consider this blog elitist at all, especially with the sound financial advice that Garth et al offer, all for free.

A “government” blog?

I suspect you’re living downwind of some nasty stuff, Richard. You should investigate that.

#48 ROTFL on 01.20.17 at 7:48 pm

And what, at this late date, is this hooey about who won the popular vote? Anyone who’s watched a decent Aaron Sorkin show has had it Aaron-splained extensively.

The constitution is clear. The Democratic electors had a winning (less losing) move, and it was this: Agree unanimously to vote for some broadly acceptable moderate Republican who they could get a few dozen Republican electors onside for, rather than Trump. And not vote for Clinton, who had no chance of becoming President. Even if this failed, I think it would have been better for them to vote for the moderate Republican to show willingness to compromise. All would have been constitutional. Didn’t happen. Trump majority in electoral congress, becomes legitimate president regardless of constitutionally meaningless popular vote. Period.

Obiter, Clinton was a weak candidate nine years ago, and again last year. Some of it her fault, some of it not, but all foreseeable. I say this as someone who deeply, DEEPLY didn’t want to see Trump win.

#49 For those about to flop... on 01.20.17 at 7:57 pm

The Orange Octopus can say some funny things but he seems to take things pretty serious.

Barack Obama seemed like a natural at the correspondents dinner and I always thought that the night he mocked Donald Trump there ,that it lit a fire in Trump that carried him to this day.

Their job is to make important decisions,but it’s always nice to see the more human side of them.

Obama was decent at comedy,but for physical comedy,this guy will always be number one…

M42BC

http://www.dailystar.co.uk/news/latest-news/580448/Donald-Trump-Inauguration-Day-George-W-Bush-Raincoat-Poncho-President-Speech

#50 Tbone Elliot on 01.20.17 at 7:59 pm

Feel really sorry for the person who bought that house. omg

#51 244 Bain ave on 01.20.17 at 8:00 pm

Was it a foreign buyer? Only a fool aka foreign money would pay 1.7 mill for that junk…

#52 Tbone Elliot on 01.20.17 at 8:01 pm

#45 i never trust a man who does an oxford comma

#53 Fleabitten Monkey on 01.20.17 at 8:12 pm

#6 apparat – I don’t see prices doing anything in the reverse direction this year. Just so little inventory with enough buyer demand to actually see prices inch up a bit. However at the same time I spoke with a mortgage broker this week and it was stated that the phones aren’t ringing as much….there is clearly a lot of buyers taking a wait and see approach.

#54 Bank of Millenial on 01.20.17 at 8:17 pm

Really? I resigned from thinking about the GTA RE market as normal long ago.. this is really special though, truly an epic mismanagement of capital and risk management. So many better value purchases in financial markets. I am really worried for my fellow Canadians.

How do the banks even value RE assets in these conditions? Nobody seems to know the value of anything these days.

#55 Nonplused on 01.20.17 at 8:17 pm

Well, I expected a lot more of the snowflakes today. Perhaps they are not to be feared after all.

#56 Figmund Sreud on 01.20.17 at 8:18 pm

The Trumpster’s fist-waving…
____________________

Well, … rage and righteous indignation on all sides are certainly mounting! Where it will all evntually go from here is beyond the imagination of even the most lurid sensationalists. Mind you, … I, too, am deeply disturbed at DJT’s style: … manners, impulses, psychology, politics, … policies. DJT himself may not be a genuine zealot, … but his appointments mostly are!

Anyway, … it will be interesting to see what Trump does in the next week or two, …

F.S. – Comox, BC.

#57 Wrk.dover on 01.20.17 at 8:29 pm

Got my assessments, 5 pc block of property, 40 acres, forested, 4 buildings. 90 grand. I feel so…..blessed

#58 CharlieDontSurf on 01.20.17 at 8:43 pm

Home from work in Victoria. Watching the news while sitting down to TGF blog and getting to post #6 by apparat. The first commercial during every break…BC Government pumping the Home Owner Mortgage and Equity partnership. It was actually run twice in one break. It is almost as if the BC Gov is trying to brainwash potential new homeowners into purchasing.
Don’t worry apparat, Victoria, like Vancouver, has had its Minsky moment.

#59 Chad on 01.20.17 at 8:48 pm

#28 joblo on 01.20.17 at 6:55 pm

Like I been sayin:
Buy USA made when you can!

Besides, what’s really in your control?
———————–

https://i.imgur.com/EG0LpE4.jpg

#60 Blacksheep on 01.20.17 at 8:50 pm

Smartalox # 38,

“But instead of ‘case closed’ It’s conservatives that keep bringing up these ‘distractions’, re-fighting stale battles, instead of solving problems related to employment and the economy.”

“Why?”
————————————————-
Dude, you could not have made my point better.

Read my post again.

It seems you haven’t realized yet that the left VS right system, is simply two heads, on one snake designed to pit citizen, against, citizen.

Did you notice how the Dems AND many Rebub’s are BOTH hard core, anti Trump?

Your being told he’s (Trump) so bad even Rebub’s don’t want him when the truth is both parties are in full panic mode, doing anything legally possible to stop the new PotUS from altering their cosy congressional / senatorial lobbyist arrangement, that has made a significant % of them multi millionaires.

We need to stop bickering with each other while the systemic operators keep enriching themselves. We behave like ants fighting other over bread crumbs (issues mentioned) that have been long resolved.

Just stop playing along….

#61 greyhound on 01.20.17 at 9:14 pm

“Economist Robert Shiller (the man who called the US housing bust, plus the 2008 stock market crash) says Trump will usher in an epic financial disaster. That’s extreme. But so is believing economic growth and millions of new jobs can come from rhetoric.”

There may be a parallel to Trump in Herbert Hoover. That “little change” that took place in markets in October 1929 happened only eight months after Hoover was inaugurated as US president, and Hoover was subsequently widely blamed for the Depression that followed.

Uncertainty is by far the highest it’s been in my career. Some of us are wondering if a “Lehman squared” event may be on the horizon, courtesy of the central banks. We await a catalyst.

And don’t forget that in the States, mid-term elections in the legislature happen only two years from now. His own-party majority could evaporate in November 2018.

#62 crazed and a little confused on 01.20.17 at 9:14 pm

well
Im you would rather choose 244 Bain st over this

http://www.hawaiilife.com/mls/kauai/-rh/600662?page=3

even with exchange the Hawaii home costs less.

oh well

#63 It's been 76 days into the Trump presidency and the oval office finally receives its briefing on Canada. on 01.20.17 at 9:16 pm

It’s been 76 days into the Trump presidency and the oval office finally receives its briefing on Canada.

What’s up there anyway? I’ve never paid much attention to the place. Everybody plays Hockey and drives around on snowmobiles, right? I’ve watched the Toronto Maple Leafs play the Rangers. The Leafs always lose.
While Mr President, Canada is our largest trading partner
Are you sure? They send us lumber, and Christmas trees. Toilet paper too, as I remember. From that NYU MBA.
Not so much now Mr President. There’s a lot of oil and cars. Metals are big too.
Oil and cars, we don’t need that stuff anymore. Let give our guys a chance. Lets make America great again.
It’s not that easy Mr President.
Who runs the place
Justin T…
Justin Bieber – my grand daughter likes him. I think I know who were talking about.
No Mr President Justin Trudeau not Justin B….
Who?
Son of PET.
Son of a dog. I don’t understand. Anyway, what’s his background.
He use to be a snowboard instructor who ended up being a supply teacher.
I don’t mean his hobbies – how did he make a name for himself?
That’s it. He couldn’t hack engineering school, let alone get his Doctorate in Econ from Columbia and find himself at Goldman Sacks, like most every other want-a-be leaders of today.
You mean the Canadian people can’t find a half decent billionaire, five star general or well connected lawyer to run the place. Not even a worn-out academic like Europe?
It’s not the Canadian way Mr President. The most up to date intelligence report speculates that the Canadian people are so tired of wide-eyed politicians subtracting from their life’s, that they’ll happily vote in the least competent candidate, hoping they don’t try their hand at improving things. The last guy had nothing more going for him than a Masters in Econ, from a second rate school, and proved the old saying, “a little bit of knowledge can be a dangerous thing”.
How can Canada help me make America great again?
While you remember the implosion in RE values in 2008, Mr President.
Indeed I do. Picked up some of my best property buys back then.
It never happened in Canada – it just kept on going up. There’s even a couple of Trump towers up there.
Wait a minute, I don’t remember negotiating any property purchases up there.
They licenced use of your logo, Mr President. There’s no Canadian RE mogul with name recognition up there now, they all went bankrupt.
Wait. Your telling me in a run away RE market. No one made a few billion.
Mr President your confusing Canadian business acumen with American, or Asian. It just doesn’t exist. After all, all the smart Canadians are siphoned down to the US, and the smart Asian figure out what a determent the place is to generating real personnel wealth.
How is this good for the US. I want to make America great again.
Mr President, with all due respects, a lot of Canada’s productive assets are owned by us. The intelligence chiefs at the Dept. of Comm. are suggesting that the whole country is so overleveraged that if we just start a couple of rumors here and there, say about trade barriers or question the risk assessment of their government bonds, the whole thing will implode – like a snowball rolling down a mountain can cause an avalanche. You understand markets – the resulting volatility in the currency, stock and bond market will let our boys swoop in and buy up even more at very good prices – 10 cents on the dollar, easy. Canadians are too busy paying taxes and mortgages to hold their own assets.
Housing is that expensive up there.
Maybe 3 million for something that goes for 300K in Tarrytown.
Three million- that’s the price of the luxury midtown penthouse I set up Evon with.
And the taxes are bad too. You know how at the median, we’re thankful if we can collect 10% of income. While up there for the US dollar equivalent it’s closer to 45%.
How can people afford it?
They just keep on borrowing and hope for the best.
I tried that in my early days – it worked out fine for me.
Yes Mr President, but you were busy in the early stages of momentary expansion. They’re in the last so it more than likely won’t be a good thing in the end.
How do they save for their retirement.
They don’t. They rely on the government.
Rely on ……Are these people just plain stupid?
While to put it bluntly, Mr President, yes.
(long pause)
Have the Dept. of Comm. come up with a plan to grab whatever we can of Canadian assets. Hell, I’ve been thru a couple of liquidity downturns myself and for once, I want to be on the creditor side rather than the hot seat. I want our boys to grab all they can of Canada that we don’t already have. It’s the type of thing that will make America great again.
Mr President, with all due respects, that appears a bit predatory.
That’s why you’re not a billionaire. Everyone around the world knows we’re great and getting greater, but Canada – nobody even thinks about the place!

#64 just say no on 01.20.17 at 9:19 pm

Garth you should be a realtor, That Georgian Mansion is PERFECT and priced to match. Somebody needs to come up with something else to lust after? Which is difficult, what could be better than human doll houses to play with? Or piling up large amounts of money then not having anything to show off? Cars are okay but to many on the road and they get dirty etc. Houses next up, but what next. I am done with cars and houses……..

#65 paulo on 01.20.17 at 9:35 pm

Our Exports to the united states makes them our biggest Customer. We are also there biggest Customer Mr Trump Has called his position We here in Canada should have our position firmly planned. We should also be developing a consensus with our other free trade trading partners,on preparing a unified bargaining position to bring to the table
when the negotiations commence.
we do have options and trade deals in place with potential markets that could potentially offset onerous actions. The american goverment may find the “wall” to be far more involved than they expected

#66 bigtowne on 01.20.17 at 9:36 pm

Pomp and Circumstance and a beautiful marine’s arm to hold ..how beautiful the First Lady on Pennsylvania Avenue. In the 19th century genteel ladies always hung onto a credible and reputable’s arm as it would not do to venture out “unattended”. First Lady wore long matching blue gloves reminiscent of the fifties and early sixties church must have accessories for both Catholics and Protestants.

The inauguration was celebrated with prayers so genuine from a rabbi; a pastor; a minister and a priest…they were able to praise “Jesus” and “God” several times ending all the prayers with fervent Blessings for America. We can’t do this in Canada as it would offend too many.

#67 WUL on 01.20.17 at 9:37 pm

Our oil sands have some friends in high places and in D.C. Trump will accept calls from these dudes.

Rex Tillerson as Secretary of Climate Change is a Fraud and former Chair and CEO of Exxon Mobil. In 2012, EM owned 69.6% of Imperial Oil, a heavyweight up here with its Kearl Mine and interest in Syncrude. Rex will be keenly interested in its success ($$$$).

The Kochs. Largest oil sands leaseholders. No production to my knowledge but was one of the original proponents of the Fort Hills Mine. Did they retain a royalty for their lease? I would have.

ConocoPhillips Canada is 100% owned by ConocoPhillips.

These are guys not to be trifled with. Billions invested. What refining interests do they have in the US fed with Canuck bitumen. The Kochs make big money from that side of things.

Keep Calm and Dig On.

#68 MF on 01.20.17 at 9:38 pm

#23 mark on 01.20.17 at 6:33 pm

“Hell hole like Toronto”???

Ah no. I prefer the big city feel and diversity of Toronto..as do a ton of other people. That house in NS is cheap because less people want to live there. Pretty simple. Hellhole? Come on.

MF

#69 Freddy finance on 01.20.17 at 9:48 pm

Looks like Archie Bunker’s house.

#70 Disgruntled on 01.20.17 at 9:52 pm

http://www.macleans.ca/economy/business/how-a-real-estate-developers-efforts-to-silence-a-critic-failed/

#71 Jimmy on 01.20.17 at 9:57 pm

#30
Still first. But respecting The Rules.

#72 Stock Picker on 01.20.17 at 10:02 pm

Trump removed all ambiguity from the market and stocks went up…simple. I made money…and think the rally has fundamental legs looking out a year and three. What did surprise me is that I allowed myself to wallow in myth….buy the rumour sell the news….and it turned out conventional wisdom didn’t apply in this case….not should it….my bad….there was no sell off….I had to be satisfied to watch the money already working to earn. blame it on old age.

Loved the move in CP.( bought at 89…now 200) …BMO…( bought at 95 …now 99) AGU….( bought at 78 now 140) and my little drill bit… etc etc etc….PD. …bought at 4 …now 8) which is a nice result from picking your own stocks.

So many others lifted off to various degrees leaving the market flat after two weeks of lethargy. This is why dividend income is so nice…you get paid no matter what.

But….when I look at the velocity of trading I’m reminded of a runaway train and have to wonder when a healthy distribution cycle might kick in and what may be the catalyst. Simple….money has to find profit….and right now those who missed the last six months of the rally will window dress until profit is found. This is a dangerous time for the retail amateur who thinks trains are there to flatten pennies. I’m going to guess this April / May might be a downer just because…..but that would be a great buy op…..because Trump has removed all ambiguity from the markets going forward.

As my dear wife said…I’ll say to you….Obama….you cretin….don’t let the door hit you in the ass on the way out. It was obvious the so called protests were over staged and scripted. These Obama encouraged riots are the last we’ll see for at least four years under the withering gaze of the Trumpster.

#73 desplorable election deniers on 01.20.17 at 10:08 pm

Bikers For Trump Attacked! Live Coverage at Deploraball Protestors

https://www.youtube.com/watch?v=5tm7jKcjr_Y

#74 Tony on 01.20.17 at 10:11 pm

Kevin and the rest of the Canadian taxpayers will be picking up the tab for this property in full. The previous owner (bank owned) as in the present owner will soon be seen bumming change on Young Street and sleeping on air grates just to survive. Moral of the story is when you pay fifty times what something is worth your money would be better spent consulting a psychiatrist.

#75 Rexx Rock on 01.20.17 at 10:14 pm

That 1.72 mill house was a steal.In the spring it will be 2.1 million.Next year it will 2.74 million and the year after 3.4 million.This is just a Vancouver rerun in the making.Alot of jealously because this smart dude will make an easy $300,000 to $500,000 by next Christmas!!

#76 desplorable election deniers on 01.20.17 at 10:19 pm

Limo set ablaze during anti-Trump protest

https://www.youtube.com/watch?v=0NPDFtgBul0

#77 desplorable election deniers on 01.20.17 at 10:24 pm

UK: Trump effigy beaten to pulp as protest against new US president rocks London

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

#78 Dianne Maley on 01.20.17 at 10:33 pm

I have seen ups and downs in Toronto real estate since I first moved there in 1965. You could buy a house in the Annex then for $60,000. Even Rosedale.
We bought our first house in Cabbagetown for $27,000. Now really, that was not that long ago. We got caught up in real estate speculation in the early 1980s. Never again. That was the most frightening thing I have ever experienced. Some good renovators I believe actually died of stress. Never, ever, ever again have I been tempted to speculate in the real estate market. Buy to live in, yes. But when things go down, it is deadly. This time, even if prices fell by 50 per cent in the major cities, they would probably still be too high based on family income. So this is not a quick buck trade. Listen to Garth.

#79 WUL on 01.20.17 at 10:38 pm

And selfishly to bump comments from 56 to about 112 for my reading pleasure in The Mac, I offer the following reminder. Flames at Leafs at 7:30 Eastern (3:15 a.m. in Nfld/Lab) on Monday. Are their big flatscreens at South Side Johnny’s?

#80 Silver on 01.20.17 at 10:40 pm

so lets see…

of eligible voters…

about 24% voted for h
about the same for T

but on the other side of the flip 46%of us said screw you both … neither of you is worth the time of day.

your protected minority position holds nothing for us

also the electoral maps should scare the shit out of the city
thugs big time.

and as usual the none of the above party won
which never gets to reject completely a deplorable candidate choice…
there is no none of the above rejection box
…forcing them to go back do it again and give us something worth voting for…

a choice which one Russian Municipality was forced to excerscise 28 times by the courts until an appropriate list of candidates was found that people would vote for… not very demacatic there but hey…

so
A. was a completely despicable candidate
B. was a completely deplorable candidate
both had absolutely no appeal to 46% of the vote

everyone should be more worried about the 60 %
who are tired of being stolen from by both government protected groups using government created levies to enrich themselves.

as for the trade wall…
maybe canadians will finally learn to create things again instead of buying cheap labor products from other countries… while talking about global equality…

oh we do sell finished products like arms to the Saud’s to promote equality and social justice around the globe…
as well as support them on the Human Rights council.. .
ain’t that a joke…

the real group to watch is the 46% that are really pissed
at both groups, and tired of catering tax breaks to both with no recognition or consideration of those who bear
the economic brunt of this.

people without government jobs and who are not subject to minimum wage rules government imposed on everyone else and not subject to the same laws about liability for there pigout…
make government wages the mininum wage… equality is a bitch..

business’s without special “incudes” laws and special tax breaks not available to every business, lets try some real capitalizm for a change. dare you…

History is a inconvenient bitch… wins every time
and this is a gonna be one hard well deserved lesson.

you really think a part time drama teacher with absolutely no business cent’s is up to this…

Don’t think much of Trump… but he will eat T2

but from a business point of view.. the earnings will be good…

wouldn’t be surprised to see him to do something about the film labor tax breaks given out like crack candy to the industry here.
there are a bunch of others.
… labor used to be 50.8 percent if you were a good accountant as was shown me by a paramount figure.

so now
… if I could get the roughly 38 cents on the dollar,
back from the wages I paid an employee as a tax break
right off the top…

I could be very competitive as a business as well…

so…
… every one will get what they deserve.
and Snowfake covered Canada is in no position to do other than bear this…

the lamenting of the special left and right here will be great to hear… a long sweet meltdown I hope….

music to my ears

this is gonna be one hell of a wealth transfer…
hope your on the right side of the flip…

gonna make a mint off this…

silver

#81 willworkforpickles on 01.20.17 at 10:57 pm

When Trump imposes tariffs on imports into the US, the countries effected will do likewise. Few manufacturers will return to the US when all of their components are made elsewhere and tariffs are then imposed on those manufactured parts that will have to exported into the country.
Has Trump even thought this out? Imposed tariffs will be inflationary and will end up putting the middle classes in the poorhouse with that half baked plan to make America great again.

#82 wallflower on 01.20.17 at 10:58 pm

#63 It’s been 76 days into the Trump presidency
= = = = =
This is reminding me that earlier this week, an anti-Trump 78 year old man here in Florida said to me, upon learning I am Canadian, “You are the ones that live in the ground, right? Like your houses are underground… right?”

He. Was. Serious.

#83 Paul on 01.20.17 at 11:14 pm

Wow,now let’s here it from all The U.S. Haters when Trump turns off the tap. The tune will change!

#84 For those about to flop... on 01.20.17 at 11:29 pm

Pink Snow alert in Burnaby.

These guys bought at the peak in June for 650k and are currently looking at taking a rough 100k loss.

The GREENBELT didn’t save these guys…

M42BC

1401-6659 SOUTHOAKS CRES BURNABY

Oct 15:$680,000
Jan 20: $555,000
Change: – 125000.00 -18%

https://evaluebc.bcassessment.ca/Property.aspx?_oa=QTAwMDAzV0NQVA==

#85 Ponzius Pilatus on 01.20.17 at 11:30 pm

#66 bigtowne on 01.

The inauguration was celebrated with prayers so genuine from a rabbi; a pastor; a minister and a priest…they were able to praise “Jesus” and “God” several times ending all the prayers with fervent Blessings for America. We can’t do this in Canada as it would offend too many.
————
As I said, America is a Theocracy.
And too many Canadian religious old farts would rather be Americans.
Until they find out that there’s no Medical Plan.
Losers.

#86 Damifino on 01.21.17 at 12:02 am

#44 };-) aka Devil’s Advocate

Not long ago (15 years) you could buy a Kelowna South post war bungalow for a quarter what you’d have to pay today. Why would it be any different in another 15 years? No more, or less, difficult to believe today than it was then 15 years ago
——————————————–

It would be much more difficult to believe. If the price of a home rises by a factor of 4 in 15 years and continues at that rate for another 15 years that’s an average increase of 9.6% per year for 30 years.

Graph that curve. Now graph the curve of a 3% national inflation rate over 30 years. Finally, graph the difference between these two curves.

After 15 years, the house price has exceeded a very liberal inflation rate estimate of 3% by a factor of 2.4. That’s impressive!

But after 30 years, the house price has exceeded the same inflation rate by a factor of 13.6.
That’s madness!

So yes, it definitely would be much more difficult to believe a 9.6% increase continuing through the second 15 years than the first 15 years.

#87 Stock Picker on 01.21.17 at 12:19 am

You want squished? At exactly 11:59 all references to climate change were deleted from US government websites. That’s how fast things are going to change for Trudeau, Gerald Butts and all the sycophants who’ve used climate change as a front to grab cash from the taxpayer.

Climate Change was an invention by the Brundtland Commission. For those of you who didn’t take poli sci as an elective you should know that this was the group who invented energy taxation as a way to secure funding for sustainable development…to send dollars to the third world….so don’t wonder why the little countries run by dictators at the UN always vote FOR climate change legislation enforcement.

Pierre Trudeau was the second signature to this nefarious fraud….so don’t wonder why the son…and ministers who their dogs Kyoto keep voting for this sham.

This con has made a new generation of carpet baggers very rich. But….that’s changing real fast. Trudeau and Butts are on the wrong side of this change and the UN grifters should go to jail.

#88 bubu on 01.21.17 at 1:02 am

Careful if you think AB has good prices now and you want to buy a house in Edmonton or Calgary…

“The U.S. receives 98 to 99 per cent of Canada’s exports of oil and gas,” Carr said: http://business.financialpost.com/news/energy/canada-scrambles-to-find-points-of-intersection-with-u-s-as-energy-policies-diverge

#89 Freedom First on 01.21.17 at 1:15 am

#42 crowdedelevatotfartz

Yes. You have no wisdom. As you consistently keep proving. Keep trying though. I am amused.

#90 OffshoreObserver on 01.21.17 at 1:43 am

Reporting from Hong Kong, I am paying $550/night for 4 nights. That was cheaper then the 4 nights in Dubai for USD14,000. Anyway, I live beside the beach in Da Nang, Vietnam for $250/month. I “lent” my 29 year-old GF $20,000 for her house–I added $10,000 to increase from 2 stories to 3.

Her part of the contract was to put in a shipping container with which we are going to grow herbs and vegetables.

I will post more later, if Gartho permits, later.

#91 Episode 1, Season 1 of "The Apprentice: Washington" begins. on 01.21.17 at 3:07 am

Stay tuned Canada, you might get fired.

bsant

#92 #63 It's been 76 days... on 01.21.17 at 3:12 am

Thank you for the prose, it was very funny.

I especially liked the T2 credentials part of the story.

Basically, a dumb pretty boy with just enough sense to surround himself with smarter people. We’ll see how that works out for T2 and Canada with Trump in office.

The show Shark Tank comes to mind.

bsant

#93 Frank on 01.21.17 at 3:14 am


—-

You are quite dramatic today, Garth.

You almost sound like a liberal snowflake, crying for the economic equivalent of safe place.

Leave you pejorative garbage at the door. Your ilk doesn’t like being called racists and nazi’s so don’t call those that have a different opinions snowflakes.


Check out the hard numbers of NAFTA on “growth” of real household income in Canada from 1984, with the projections up to 2024.

Seems like in reality NAFTA is the Kiss.Of.Death.

https://www.bennettjones.com/Publications/Updates/Growth_in_Real_Household_Income_in_Canada__1984-2024

Wow. You would have a point if NAFTA was the only thing that changed in the world during the last 30 years. But that would be ignoring the revolutionary advances in digital technology, The entire commercialization of the internet, the industrialization of China and India, the fall of the Soviet Union etc etc. I mean jesus christ are you serious? The world isn’t a vacuum. Looking at numbers and attributing it to a single trade agreement is borderline retarded.

Here’s the thing about globalization. It’s happened and you can’t undo it. You can no more uneducate the citizens and destroy the factories in Beijing than you could the ones of 19th-century London. The rest of the world is catching up with the West thanks to rapid advances in technology. Now unless you can convince people to stop shopping at Wal-mart and start paying 4x the amount for their current goods you’ve got a fat fucking chance of putting a trade wall around the US or Canada and expecting it to work.

Blame ‘the elites’ or the ‘globalist bankers’ but really you’re just making up some nebulous boogeyman because you’re too stupid to understand how the world works. There is great inequity in the world but no populist movement has ever worked. They’ve all lead to leaders who use a strongly controlled message to spoon feed people what they want to hear. From Chavez on the left to Berlisconni on the right. It’s always failure.

#94 Agreed #27 For those about to flop... on 01.21.17 at 3:23 am

I like your big picture idea.

For the record, based on 2015 GDP and using your pieces analogy:

Canada = 75 pieces
Mexico = 55 pieces
USA = 870 pieces

T1 was correct. We are sleeping with an elephant and we will get crushed if it rolls over on us.

bsant

#95 Euro observer on 01.21.17 at 3:54 am

There is more to it.

Trump administration just announced that they will remove mortgage ‘insurance’ even on 25 % mortgage down-payment. Next come ‘guarantees’ on student loans that pushed cost of tuition in the stratosphere.

That’s it folks,

If the banks assesses you as affordable risk they will lend you money for your house/education.

It always seemed that all these ‘insurances’ are outright moral hazard and morally criminal, I am wondering if they would turn out to be legally criminal, e.g. payer is not covered by that ‘insurance’ but the lender.

I am hoping the idiot politicians in the brain frozen north take note, with their 5 % (borrowed as second mortgage) down-payments insured mortgages.

And all these aka incentives.. RRSP, 2.5 % interest free loans in reality idiotic financial policies payd with other people money.

So far it seem Trump is serious and Canada is screwed.
Poloz & Co gamble to compete with India and China in cheap labour just hit the inevitable wall at 100 miles per hour.

At least we don’t have to worry about the banks, they got their cash cows (literally, some cows are more intelligent that most of the house buyers these days) at no risk.

As of the CAD and people on fixed income as well as the new grads from Universities, I strongly recommend to stock on Vaseline.

#96 Mumble mumble on 01.21.17 at 3:54 am

How things change.

Republicans launched CAN US Freetrade in the 1980s as sound economics
Repulicans will kill freetrade in the 2010s as the worst economic policy ever

All the while praising the legacy of the great communicator? Mmmmm.

#97 Euro observer on 01.21.17 at 3:58 am

DELETED

#98 Euro observer on 01.21.17 at 3:59 am

And it seems Canada’s plan for the future is housing and more auto loans.

S..t storm is coming, take cover

#99 apparat on 01.21.17 at 4:38 am

Thanks Fleabitten Monkey and CharlieDontSurf for your replies.

#100 TurnerNation on 01.21.17 at 8:15 am

For how this will play out I’m keeping an eye on our ‘poor’ cousins, Mexico (just another brick in the – Nafta – wall): Mexican ETF EWW.US went up 2.2% yesterday.

Meanwhile here on the King St W. party/club strip – where weekends call for 100% chance of vomit raining down – we see massive ‘densification’ in condos taking place. (Expect longer lines at local Dollarama.)

http://urbantoronto.ca/news/2017/01/growth-watch-2017-entertainment-district

#101 Wrk.dover on 01.21.17 at 8:43 am

I am probably the least understood commentor on this site. Why? Maybe because smog breathers just don’t comprehend. My 40 acre real estate is worth less than the nonrefundable transfer tax of today’s post. My yearly property tax is $1100. Heating the R-2000 house is $300 worth of cord wood, which I produce for free anyhow. This week I mentioned that I own a whole bunch of old fixed up rust free Arizona cars (and vans) that each one of cost less to create than a Toronto dwellers yearly car payment. Unlike the owner of today’s posted house, these cars are indoors, up a 500′ driveway. And yeah I do have a 4X4 with plow, that is not for road use, but can feed the back yard mill. Rural car insurance is about a buck a day per car. I also have a big honking cabinet making shop full of Canadian made equipment, in the loft of the biggest garage sitting idle, just for grins. The wife has a 50′ long greenhouse on the back to play with. For 15 years we have lived on half of our low retirement income for day to day, while the rest is just bonus. You folks think I am living in abject poverty because not in Toronto or Vancouver, while most of the people on this planet would consider me to be stinking filthy rich. I can’t afford to pull up stakes and move to Toronto, so it has to be true, I must be some poor eh Byes?

I don’t understand your 20 X 80 lot dreams either, so be it. But there are many people living like myself in the hinterlands beyond city commutes. And, we love it!

Did I mention this place is worth less than the nonrefundable transfer fee of today’s house posting?
Of course I did, but I am still the misunderstood one.

All of this was gleaned from a not living in Toronto teachers salary by a stay at home and build it all without help, pioneering husband, just sayin….

#102 crowdedelevatorfartz on 01.21.17 at 9:16 am

@#63 Its been 76 days

I’m sorry I wasnt paying attention.
Did you say something?

#103 Dharma Bum on 01.21.17 at 9:21 am

#16 Ponzius Pilatus

“This is not the time to lie idly on the couch.”
—————————————————————–

Stop criticizing my hobby.

#104 crowdedelevatorfartz on 01.21.17 at 9:21 am

@#72 Stock Picker

Trump wont last through his first term.
He’ll resign in disgrace a la Nixon

Trumpster…rhymes with dumpster.
Which is where he’ll be putting Canada’s economy if he tears up NAFTA and slaps a 35% import tax on everything…….
Or did you miss that part…..

#105 crowdedelevatorfartz on 01.21.17 at 9:28 am

@#101 Wrk.dover

An enviable lifestyle. Ontario? or East Coast?

#106 crowdedelevatorfartz on 01.21.17 at 9:33 am

@#89 Fredom First
“I am amused”
*******************************************
Your reply.
Extremely eloquent yet thankfully bereft of too much self promotion ….
Which begs the question.
How does one type and simultaniously stare at their reflection?

#107 MF on 01.21.17 at 9:41 am

#87 Stock Picker on 01.21.17 at 12:19 am

Another A1 solid post from you.

100% correct the UN is simply a forum for third world dictators, banana republics, and champagne socialists.

The organization is worthless and should be ignored.

What a joke T2 is…lets give away another few billion of our money to some “UN initiative” with zero oversight.

Who is behind the scenes pushing for this garbage?

MF

#108 trump 2020 on 01.21.17 at 9:47 am

Testing.
Awesome blog

#109 CMHC = finacial terrorism? on 01.21.17 at 9:59 am

95 Euro observer

Trump is a great man who believes in real freedom and true democracy. Trump also believes in true free narkets. CMHC is anti free markets and distorts economic reality. The corporate elite are displeased with Trump’s free market and democracy stance. The way they cry vis their mouth piece media tells me he wants to bring back the free and open markets. The media has easily brainwashed the feminist to do their bidding of complaining. Anyone who thinks the media is real or telling you the truth are clueless to reality. Stop being a puppet of propaganda. Trump is really do go and so far im surprised. Make America great again and hopefully the world will wake up to the evil corporate lies like climate change or current free trade or even the pharmaceutical companies who are poisoning us and our children . Go them trump. Its scary how many product of propaganda walk around in the street that needs to be woken up.

I sure hope that was sarcasm. If not, you have been mind-raped. — Garth

#110 Ret on 01.21.17 at 10:13 am

#20 -Trump just took all instances of Civil Rights, LGBTQ Rights and Climate Control off the official White House website.

Link please or is this fake news to stir up disccontent and divisiveness?

#95 Trump administration just announced that they will remove mortgage ‘insurance’ even on 25 % mortgage down-payment. Next come ‘guarantees’ on student loans that pushed cost of tuition in the stratosphere.

Link please. The link below mentions mortgage changes, but not what you state.

http://time.com/4641511/trump-inauguration-mortgage-payments/

Granted, the student loan situation is a mess in the US. The Canada Student Loan situation here is rarely reported on by the press but it looks like your wallet may be involved.

From 2015,

http://ottawacitizen.com/news/politics/federal-government-writes-off-almost-300-million-more-in-student-loans

#111 traderJim on 01.21.17 at 10:16 am

Riverdale at least has some nice spots, unlike ‘Leslieville’ which is still probably the car theft capital of Toronto, judging by the chop shop looking half-round metal ‘workshop’ my buddy’s neighbour has in his driveway/backyard. (Police visit regularly, lots of entertainment)

Leslieville has been gentrifying for at least 15 years now, and will need about another 20 years to become decent.

Who the hell wants to pay close to 7 figures to live in that kind of place waiting for decades for it to improve?

Crazy people. (My buddy bought his place for under $100k, it was probably the cheapest house in Toronto at the time, and rightly so. But he’s a carpenter so it’s looking better. His neighbours are 80% crack shacks 20% new infill tall skinny $850k places…)

Looking more clear every day Toronto IS going to go parabolic. You only need 1 house to sell for a ridiculous price to set the ‘comps’ for a whole area higher.

It’s not like the stock market where millions of equivalent units trade every day.

I sold a condo in the spring for something like 20% over the previous record high sale, and now similar units are asking 20% above that. (Not sure if they are selling for that new asking or even higher?)

I disagree with the esteemed Mr T. I see an absolutely epic bubble about to expand to and perhaps beyond Vancouver levels, leading to an even more epic crash, but in a few years, not soon. Lots more room to go on this ride.

Trump being a wild card that could crash the Canadian economy sooner than I expect. He could be a game changer. Remains to be seen.

#112 traderJim on 01.21.17 at 10:26 am

One factor that will eventually lead to more inventory will be people like a relative of mine who has plans to sell in 3 to 4 years and retire to the (already purchased) resort property.

His house is already valued at 5 times what he paid for it.

If it goes even further, and sure looks like it will, he could get his 3 to 4 years of salary paid to him up front, in cash, tax free, by selling his Toronto detached home.

So why work for 4 more years and risk prices collapsing?

I’m already all over him telling him to sell in the next 3 to 6 months if he gets an extra $500k.

He’s open to it. He knows the value of his place as he has an agent on speed dial updating him with what he could get (in 1 week) if he decides to take the leap.

Must be lots more boomers in this position? Or maybe they are all not thinking clearly and believe they ‘have’ to work to normal retirement date?

#113 traderJim on 01.21.17 at 10:33 am

p.s. when did ‘snowflake’ become equivalent to comparing someone to white supremacists responsible for genocide and tens of millions of war casualties?

Too funny.

#114 Fuzzy Camel on 01.21.17 at 10:49 am

Trump’s stated his goals clearly. How he accomplishes them are pretty straight forward.

He will start trade wars, currency wars, and eventually real wars. He will dissolve the UN, the EU will eventually collapse on it’s own.

He thinks the USD is too strong, so expect gold to perform well under him. He has big spending planned, so expect strong inflation.

Canada will get clobbered when he starts to drop the USD and imposes tariffs on softwood/oil.

Canada will respond as it always does, increase immigration and cutting interest rates. 2017 is going to be an inflationary hell. Even if the CAD starts to collapse they will not raise rates. Plan accordingly. Real estate here will continue to go bonkers, until, people see gold skyrocketing as their currency crashes. Then expect a rush to the exits on real estate.

World governments will all respond by devaluing their currencies, it will be a very aggressive race to the bottom.

Trump wants a weak USD, it means imports cost more, which means US gets an edge on manufacturing. US will prosper greatly during this time I might add. Jobs will rush back to the US, their economy will flourish. However the rest of the world will all begin to experience currency collapses. Just look at Mexico, Trump hadn’t even taken office yet and the Peso is collapsing.

#115 traderJim on 01.21.17 at 10:52 am

#101 worked over

I think you underestimate how many people understand your way of life.

I’m a former Bay St guy who retired 10 years ago and am now building my own timber frame. I don’t mean I am paying someone to do it, I mean am using wooden mallets and Robert Sorby chisels to cut my own mortise and tenon joints, while living in small town Muskoka.

Now, I don’t miss Toronto at all, much as I like big cities in general. Toronto is no longer functional, imo. Traffic is that bad.

Some people don’t seem to mind commuting for 2 or 4 hours a day, but my time is way too valuable (to me) for that. Not to mention the stress.

I am surprised by how much I like small town life. It’s just so easy to get things done. If I want to talk to the building inspector I call him up or drive 4 minutes to visit him in his office.

My local pubs have great food, are ridiculously cheap, and have surprisingly good live music 3 nights a week. I have heard more good live music here in 1 year than I did in 10 years in Toronto, as it’s just easier to get to.

(Very surprising how many people around here look literally like they are right off the farm, who can play and sing the blues/jazz like pros)

There are just so many advantages like that. It really is incredibly less stressful. And the air is a lot better, no doubt.

But most people don’t want the isolation of living on a ‘farm’ where the nearest neighbours are a mile away. Good for people who do, but too damn isolated for most.

But no reason you can’t have a small town summer home and travel the winter to the great European cities or head south for some warmth.

Now that’s a lifestyle a lot of people from the big smoke could really relate to, and isn’t much more expensive (if done with proper planning) than staying at home.

#116 #109 CMHC = finacial terrorism? on 01.21.17 at 11:18 am

I sure hope that was sarcasm. If not, you have been mind-raped. — Garth

LOL , that maybe true Garth. I’m surprised you even understood what I wrote with all those errors. If Trump does what he says I believe many economic lies will be exposed. All this uproar by the corporate media leaves me to believe Trump wants to do good for the people. For me we live in a 1984 world where good is bad and bad is good. This uproar is odd and unwarranted at this point in time. Let’s se what happens first before we protest.

#117 Wrk.dover on 01.21.17 at 11:57 am

#105 crowdedelevatorfartz on 01.21.17 at 9:28 am
@#101 Wrk.dover

An enviable lifestyle. Ontario? or East Coast?

——————————————

Stuck on the SW coast of Nova Scotia, with weather better than Kingston Ont. but there are no gyms and stuff here. The very best part is driving to a nearby town five minutes either way with out stopping the car until you reach your destination, parking for free near the door, and not having a line at the cash register.

I grew up in Etobi-choke, I know the drill. I flew into Pearson for a connecting flight last month on the way to Jamaica for the first trip of the winter, and from the plane window I was not impressed by the strings of headlights on the morning commute coming from far and wide into where the strings of tail lights were leaving from. People….come on.

#118 Trumpocalypse2017 on 01.21.17 at 12:07 pm

Unbelievable crowds of protesters out today in America!!

http://www.cnn.com/

Don’t think I’ve ever seen so many huge crowds. This is just the beginning.

Smart investors and survivalists are already planning for what happens once the inevitable assassination or impeachment happens.

But will it happen before WWIII ?

THAT is the only question that matters.

#119 traderJim on 01.21.17 at 12:34 pm

Whoa! Trumpocalypse is right! Trump’s insane…going to disallow the previously announced FHA loans premium cut: http://www.talkmarkets.com/content/us-markets/day-one-action-trump-suspends-fha-premium-reduction-move-makes-perfect-sense?post=119453

How are taxpayers going to be able to bail out the rich if they aren’t on the hook for all these loans? What is Trump thinking? The guys a maniac, shouldn’t be allowed near the mortgage loan nuclear button.

#120 relax on 01.21.17 at 12:49 pm

#93 Frank on 01.21.17 at 3:14 am
—-

You are quite dramatic today, Garth.

You almost sound like a liberal snowflake, crying for the economic equivalent of safe place.

Leave you pejorative garbage at the door. Your ilk doesn’t like being called racists and nazi’s so don’t call those that have a different opinions snowflakes.

Your “ilk”? Why not “you people”?

What’s “pejorative garbage” for you? “Snowflake”?
Does the term “T2” coined here also qualifies or that’s just good sarcastic journalism?

In your mind “racist”, “nazi” has the same weight as “snowflake”?

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

No wonder it is the most often chanted phrase on the streets by snowflake protestors.

Check out the hard numbers of NAFTA on “growth” of real household income in Canada from 1984, with the projections up to 2024.

Seems like in reality NAFTA is the Kiss.Of.Death.

https://www.bennettjones.com/Publications/Updates/Growth_in_Real_Household_Income_in_Canada__1984-2024

Wow. You would have a point if NAFTA was the only thing that changed in the world during the last 30 years. But that would be ignoring the revolutionary advances in digital technology, The entire commercialization of the internet, the industrialization of China and India, the fall of the Soviet Union etc etc. I mean jesus christ are you serious? The world isn’t a vacuum. Looking at numbers and attributing it to a single trade agreement is borderline retarded.

Relax. No need for overly sensitive reactions.

You you seem to forget quite fast your “pejorative garbage” principle that you lectured about just a few lines above.

Here’s the thing about globalization. It’s happened and you can’t undo it. You can no more uneducate the citizens and destroy the factories in Beijing than you could the ones of 19th-century London. The rest of the world is catching up with the West thanks to rapid advances in technology. Now unless you can convince people to stop shopping at Wal-mart and start paying 4x the amount for their current goods you’ve got a fat fucking chance of putting a trade wall around the US or Canada and expecting it to work.

Those numbers include all of this, not just NAFTA.
NAFTA was mentioned because Garth was talking specifically about the US/Canadian trade relations.

If only you could handle arguments with less emotions.

Blame ‘the elites’ or the ‘globalist bankers’ but really you’re just making up some nebulous boogeyman because you’re too stupid to understand how the world works. There is great inequity in the world but no populist movement has ever worked. They’ve all lead to leaders who use a strongly controlled message to spoon feed people what they want to hear. From Chavez on the left to Berlisconni on the right. It’s always failure.

Forget about labels.

If the recent political, economic system was functioning well, Trump would not even exist.

It was created by the shortcomings and failures.

#121 Ace Goodheart on 01.21.17 at 1:19 pm

RE: #101 Wrk.dover:

You don’t really need to get vehicle bodies from Arizona. Northern Ontario “sand towns” due just as well. As long as they’re not using salt, the bodies last forever.

I have been doing a similar thing using 1.9 turbo diesel VW motors (which can push almost anything, albeit not very fast). I have a bit of a stock pile. Built a camping vehicle last year with a rebuilt 1.9 Turbo diesel vw motor and a transmission I created myself out of an old VW 3spd auto. 40mpg and 120km/hr on the highway. All for under $3000.00. And no computer and no e-test.

Toronto is all about the vibe. Some people like it, some hate it. When you get sick of it, the true North beckons and a few mil in the bank from your crappy little house that got a 20 person bidding war, is worth sticking it out for.

#122 crossbordershopper on 01.21.17 at 1:20 pm

Thank you for Mr. Trudeau and Ms. Wynn for giving my family money every month so we can live in this wonderful country, safe and free in a nice apartment.
Thank you Mr. Weston for providing my family food every week at low prices so we can eat well and be healthy.
Thank you for providing an education and health care for my children and ourselves. Education costs money in many countries of the world.
Thank you for all the hard working people who go to work every day and look after my family. I know i am not contributing, but well, we are all Canadian and well its your duty too. The day may never come where I start to look after my family, in the mean time i do thank you for all the hard work you have done on behalf of my family.

#123 Dave on 01.21.17 at 5:21 pm

“The majority of people should just by the S&P 500 index fund and hold it until retirement” Warren Buffett. THis also minimizes fees, which are the biggest drain on your returns.

#124 45north on 01.21.17 at 7:41 pm

Disgruntled: from your link: But something else changed last year, wholly unrelated to real estate, that fundamentally helped Rabidoux in his legal fight against the company. In late 2015, as Fortress was scouring Rabidoux’s Twitter feed for slights, the Ontario government introduced a law, the Protection of Public Participation Act, that created a new way for defendants to fight defamation suits. Ontario’s so-called anti-SLAPP law doesn’t alter existing defamation laws, but if a defendant introduces it as a motion, the plaintiff has to prove several things, the most important being: was the defamation so damaging to its reputation that it outweighs the potential harm to the public interest in letting the suit proceed?

very interesting!

it recognizes that the little guy often acts in the public interest.

again from your link: In her ruling, issued on Jan. 11, Justice Andra Pollak agreed with Rabidoux that his comments about the OSC, his criticism of syndicated mortgages and condo developments were all “matters of a ‘public interest.” Justice Pollak didn’t buy Fortress’s argument that dealing with Rabidoux’s tweets had cost it time and money. “There is no evidence of any specific damages suffered by the plaintiffs as a result of Mr. Rabidoux’s tweets,” she wrote. As such, she dismissed the case.

#125 jordan on 01.23.17 at 4:23 pm

The property on St. David Street is nice… but check out the one on Hillcrest Drive!

https://www.realtor.ca/Residential/Single-Family/17652077/64-HILLCREST-Drive-Stratford-Ontario-N5A5J1