Sharing it

It was only five months ago that Frank and his wife hatched and executed the Big Plan.

They paid $900,000 – all of it borrowed (three hundred on an equity loan and the rest mortgaged) – to buy an Airbnb house. That came after an unbelievable dive into the sharing economy. “We made more money renting out bedrooms that my wife did working full-time,” he gushed. “So we decided to really get into this thing.”

It’s something a ton of people are discovering – cash through apps, competing with hotels where quality rooms (in Toronto or Vancouver, at least) start north of $600 a night. Ditto for those who hop in their cars and become Uber chauffeurs. And now there’s Rover.

The driveway-sharing service makes sense, of course. Drivers check their app for the closest parking pad, laneway or driveway, dump the car, pay two or three bucks an hour online and never worry about a parking ticket. The property owner gets cash for something that sat idle. The local parking lot guy gets screwed.

The sharing economy is spreading like a virus. Bad news for all those taxi drivers and motel operators, but it’s putting a lot of new cash into the pockets of homeowners. Most of them are not as radical as Frank, of course, nor as dumb.

Not only did he pay way too much for a house (in a bidding war, no less) close to the peak moment in the market, but he wandered into a bureaucratic quagmire. There are zoning restrictions meant to prevent someone from opening a hotel in the house next door to you, and F ran smack into them. The city shut him down after less than eight weeks – on complaints from the neighbours. And now the CRA says it intends to audit (his wife says she suspects it was the bylaw guys that tipped off the revenuers).

So Airbnb and Rover raise interesting questions about taxation and real estate.

First, the money that creepy strangers pay to stay in your spare bedroom and use your shower is not without strings. It must be reported, added to your other income, and taxed at your personal marginal rate. Trying to avoid that can result in serious interest and fat penalties. And since Airbnb is now working with provinces like Ontario and BC, there’s a good chance you’ll be nabbed.

Of course, you can also deduct from this extra income some of your minor household expenses – but be careful how many services you provide to a guest. For example, if you put on your sexy French maid’s outfit and clean the room daily, or dish up meals, the CRA may reclassify the activity as a business. Now you have to worry about stuff like HST, and file more elaborately (and expensively).

Also be careful about losing a hunk of your precious PRE – principal residence exemption. Leasing out one bedroom if you have four of them is not a problem. But if you rent three, trouble. Ottawa says the PR status will remain intact if the rental area is relatively small – certainly less than 40% of the total space. Of course, any structural changes made to a property in order to generate income – whether from an Airbnb dude, a monthly tenant or someone dumping a Kia in the driveway – immediately compromises the capital gains exemption.

That would include a separate entrance to the leased space, the building of a kitchen or a kitchenette, installing a new bathroom or walling off a parking spot. By doing such things you’re commercializing your digs, and the results could be costly when you sell. Some people have walked right into this tax trap by claiming CCA (capital cost allowance) for Airbnb renos. So don’t.

So here are the rules.

Include all the money you receive from this stuff in your taxable income. That also allows you to deduct reasonable costs. If you don’t, and are audited, may Allah help you.

If you’re renting out a hunk of your house or lot, ensure it’s a small hunk and in no way compromises the overall residential nature of the property. By definition, the income-producing activity needs to be ‘incidental’ to the home.

Do not make any structural changes of any kind to facilitate the clients. And don’t claim CCA if you do.

Protect yourself with extra insurance. If the parked Kia blows up on your front lawn (they’re always doing that) or the nice man visiting from Pittsburgh turns out to be a pyromaniac, chances are your homeowner’s policy will choke.

Finally, never be like Frank. The only thing he can do with that house now is rent it out as a single-family residence, which means he’ll forever be in negative cash flow and be subject to capital gains tax on any profit when he sells.

The moral: be very careful what a moister tells you. Apps can kill.

137 comments ↓

#1 TurnerNation on 06.02.17 at 6:38 pm

Gold cleared for a moonshot. VIX is broken (till Fed speak).
If there’s any other market out there I couldn’t care.

#2 Livin Large on 06.02.17 at 6:41 pm

At least back in the 90s when I worked at RevCan GST collections, there was a threshold of income before registering and collecting GST was required. Is there still a similar registration requirement threshold eith HST?

As for the insurance and CCA issues…bang on.

There’s no such thing as “free money”, at least for very long there isn’t.

Still another nice sermon on the dangers of RE.

#3 Game Changer on 06.02.17 at 6:41 pm

Shouldn’t Vancouver be the subject for today…

Vancouver’s market back on fire! I seem to remember that the market was tipping over last summer and sales plunging in 2016 and 2017 and a 10% drop in prices in April, year over year.

http://vancouversun.com/news/local-news/greater-vancouver-home-sales-return-to-almost-record-levels-in-may

#4 Waiverless on 06.02.17 at 6:43 pm

#1 Game Changer

Dead cat bounce?

#5 Howard on 06.02.17 at 6:46 pm

Curious to know your views on the new Vancouver numbers. The media is shrieking that the party continues.

#6 Okanagan Man on 06.02.17 at 6:50 pm

Vancouver market is on fire…again. So much for the doom and gloom predicting crashes and vulching.

Those things will only happen once interest rates increase substantially. Until then party-on…..

#7 Happening now on 06.02.17 at 6:55 pm

Is there any other way to explain the VREB #’s today…..for months now this blog has talked about how the market here turned and heading down…all the Ross Kay B.S. etc etc…..turns out the market keeps defying all logic….except the obvious one …..its not local $$ driving it !!!!!

At what point does the blatantly obvious get accepted !!!!!

#8 Joseph R. on 06.02.17 at 6:56 pm

2 Livin Large on 06.02.17 at 6:41 pm
At least back in the 90s when I worked at RevCan GST collections, there was a threshold of income before registering and collecting GST was required. Is there still a similar registration requirement threshold eith HST?

—————————————————–

C$30,000/yearly revenue. Once you meet that threshold, you are no longer a small supplier:

http://www.cra-arc.gc.ca/tx/bsnss/tpcs/gst-tps/rgstrng/menu-eng.html

#9 paul on 06.02.17 at 6:56 pm

One thing about a free country, Nothing is free.

#10 crowdedelevatorfartz on 06.02.17 at 6:56 pm

Any Uber car accident passengers try and recoup personal injury insurance claims yet?

#11 Keith in Calgary on 06.02.17 at 6:58 pm

$30,000 was the GROSS REVENUE (your sales) limit for collecting GST.

It may have changed since I had my company.

#12 Dude on 06.02.17 at 6:58 pm

#3 game changer

Dude! Don’t believe everything you hear or read. The real estate boards can say whatever they want you to believe. How do you know it’s true?

If it is true (which I doubt), I look forward to the NDP and BC Green coalition in raising the foreign buyers tax to 30%, across BC.

#13 Lee on 06.02.17 at 6:59 pm

Go to the Star online to see what just sold in Markham for $1.7M. So much for prices dropping.

#14 Cottingham a bargain on 06.02.17 at 7:01 pm

Frank is Italian . In case no one has heard me say this before , Italians worship and adore real estate in any format .

#15 oncebittwiceshy on 06.02.17 at 7:03 pm

#3 Game Changer
“Shouldn’t Vancouver be the subject for today…”

I’m not sure Game Changer, unless you’re hoping that Christy Clark’s first time buyer’s subsidy can override Horgan and Weaver’s desire to cool this market down …

Flop’s pink pollen reports kinda speaks to the market a little bit better, or perhaps try myrealtycheck.ca. It will give you a real good trend line for Vancouver.

http://www.rebgv.org/news-statistics/market-activity-picks-may

“Demand for condominiums and townhomes is driving today’s activity,” Jill Oudil, Real Estate Board of Greater Vancouver (REBGV) president said. “First-time buyers and people looking to downsize from their single-family homes are both competing for these two types of housing.”

#16 Common Wealth on 06.02.17 at 7:08 pm

I live in a commonwealth country and the continous upward taxing of the three levels of government has succeeded to making my wealth common to everyone else but I.

: – (

#17 TortyPapa on 06.02.17 at 7:18 pm

Vancouver’s hot again! Houses out of reach now. Good bye all the talent and young professionals trying to raise a family. We’ll just pick up and move to Toronto :)

#18 I'm not Poloz on 06.02.17 at 7:27 pm

One of the greatest things about Poloz’s 73 cent Loonie is that the tourism industry is growing in Canada.

Wait and see when Poloz forces the Loonie down to pre-50 cent levels to boost exports.

There will be droves and millions of libtards from the USA paying US$3,000+ a night to live on the streets of downtown Toronto.

#19 Happy Housing Crash Everyone! on 06.02.17 at 7:27 pm

Delusional Vancouver realtors worked hard to message the numbers for May. Fact is a single month isnt a trend . Its a dead cat bounce at best. realtors are screaming about the numbers tells me it will be short lived. Happy Housing Crash Everyone! :-)

#20 Pepito on 06.02.17 at 7:28 pm

Both airbnb and Uber are generally banned in Spain, as they should be elsewhere. These companies are bloodsucking scum, exploiting workers and urban residents. Have a look at these articles in El Pais to understand the issue. http://elpais.com/elpais/2017/05/11/inenglish/1494494731_939002.html?rel=mashttp://elpais.com/elpais/2016/08/11/inenglish/1470906152_620042.html?rel=mas

#21 Welcome to Slurrey on 06.02.17 at 7:28 pm

Looking for opinions. I can sell my home in Slurrey for 1.1 mill. Was thinking about taking the money and buying two detached income properties in Chilliwack as you can get double the return on rent than on one property in Surrey. I would use the rental income to offset my rental costs here in Slurrey. I already have money invested in a liquid portfolio, so don’t want to transfer the proceeds of the sale of my home into the portfolio……..Holding on to one property doesn’t allow you to cash out in hot markets (and if you try to time it you could potentially lose on gains ie: if I sold in 2013 I would have lost on some gains) and since you can’t time markets it always allows me to be in the market if I ever did offload one. Thoughts ???

#22 Happy Housing Crash Everyone! on 06.02.17 at 7:30 pm

Btw realtors NDP and Greens are going to teach you a lesson you will never forget. Have fun screaming about your fake numbers. Happy Housing Crash Everyone! Happy Housing Crash to you shyster realtors. :-)

#23 Pepito on 06.02.17 at 7:30 pm

And this one on airbnb
http://elpais.com/elpais/2016/08/11/inenglish/1470906152_620042.html?rel=mas

#24 Dave on 06.02.17 at 7:34 pm

All eyes are on NDP in BC, can they be the ones that finally crash the housing market? What new taxes are implemented and when, hope he sees all the loop holes beforehand. If he fails then we wait for BOC to raise rates and for knows when that will happen.

#25 Game Changer on 06.02.17 at 7:36 pm

#4 Waiverless on 06.02.17 at 6:43 pm
#1 Game Changer

Dead cat bounce?
——

After a 14 year bull run, I find it hard to believe that the air is out of the bag on this market or that this is just a dead cat bounce.

#26 Nonplused on 06.02.17 at 7:38 pm

Hmm maybe Toronto isn’t in a bubble after all:

https://finance.yahoo.com/news/much-gold-buy-home-toronto-123754833.html

I still have some gold (even though Garth doesn’t talk about it much anymore, not even the old 5-10% advice) and I’ve acquired some US dollars because that’s how I get paid and I haven’t been converting them, I’ve just been piling them up. So far those are the best performing parts of my portfolio in Canadian dollars since the oil bust. But I have sold some of the gold and bought equities to “re-balance” a bit.

So here is a question I have, if you have a US dollar account with a Canadian bank is it CDIC insured? I’m pretty sure if it is it would only be to $100,000 Canadian (so about $75,000 US) but I’m not sure if it’s covered at all.

(If you are wondering, I get paid USD because I can’t find a frickin job in Canada and have been doing short term gig jobs in the US. I hate it because I have to deal with 4 or 5 governments every tax season instead of just 2 but what’s a guy to do? Also it’s killer on the accounting fees. There is a reason “consultants” have to charge so much. As soon as you leave your area of residence for work everyone wants a piece of you, including the folks back home.)

#27 Dude on 06.02.17 at 7:44 pm

#13 lee

Dude! One property does not represent the majority that are not selling in Markham! All we see in Markham is the same properties being relisted, relisted and relisted again and again!

Wake up, it’s over!

#28 Nonplused on 06.02.17 at 7:47 pm

If we are sharing it, here is another good article:

http://charleshughsmith.blogspot.ca/2017/05/how-debt-asset-bubbles-implode.html

If you read my response yesterday, you will know that I believe what beguiles our economy today is declining Net Energy Return on Energy Invested. The oil is getting harder to extract and we don’t have an alternative. We’ve been trying to cover it up with paper money, but that only works if you can print enough paper money so that you can use that as a fuel source rather than oil.

In the end of the day, economics cannot escape physics.

#29 YVR down? on 06.02.17 at 8:02 pm

Flop’s (M42BC) , any news on these properties, it’s from Ross Kay twitter feed:

not sure if it’s lost from sales or lost of market value from peak last march 2016

1461 Brearley: down $799,000

356 13th Ave: down $1,083,090

2754 Dundas: down $640,340

1358 28th Ave: down $615,000

6643 Vivian: down $622,141

233 26th Ave: down $489,363

3585 Cambridge: down $586,020

5145 Inverness: down $507,000

#30 TrumpForTheAges on 06.02.17 at 8:12 pm

Latest economic data is portraying a different picture than what many in here are subscribing to. Canadian GDP growth is spanking that in the US. The US Q1 came in at 0.6% (yes that is less than 1% for the economy that is firing on all cylinders) and today Q2 was downgraded from 4% to 3.4% based upon that awful jobs report (read between the lines and you will see that the US lost 371 K full time jobs in May). If you look at the bond market it is screaming for lower rates and certainly not anticipating two more rate hikes that the market has already priced in. All of the market speculation about the Fed unwinding its balance sheet has suddenly quited too.

A proper happy housing market crash would require a sustainable spike in interest rates. Any pragmatic financially savvy individual would naturally question these things and in doing so would not justify the characterization of an entitled millenial.

#31 OttawaMike on 06.02.17 at 8:13 pm

At least the $30k HST small supplier exemption has been increased to track inflation since PM Muldoon introduced the GST in 89.

What’s that?

Oh yeah, it hasn’t.

#32 love this country on 06.02.17 at 8:16 pm

DELETED

#33 AB Boxster on 06.02.17 at 8:17 pm

The sharing economy seems in part to be a reaction to the greed and inefficiency of the old economy.

In Calgary it seems that city council sets the number of taxi licenses available which get gulped up by existing companies and which cost large dollars just to aquire. There are never enough taxis available when required, so people just use Uber.

And municipalities then lose the tax base or the license revenue because they support the taxi cartel and not the citizens right to a taxi.

Same as for parking. Calgary is among the highest in terms of parking costs (New York costs more) which is absurd, especially now that the city core is hollowed out. Has the city reduced parking rates? Kidding right.

Hotel prices are the same so AirBNB thrives.

So people find a way around the userous fees (taxi, parking, hotel room) and the city and/or private firms miss out on revenue.

#34 TurnerNation on 06.02.17 at 8:19 pm

To all you “carbon crusaders” drinking bottled water and driving SUVs: we’ll never be allowed solar electric power on a mass scale.
Why? Hundreds of thousands of civil servants at Hydro One depend on our handouts for their lifestyle.
Starve the Beast, good luck.

#35 crdt on 06.02.17 at 8:22 pm

Every time the real estate board misleads the public they give more justification for the NDP and Green party to regulate, which will steepen the downward trajectory. Short term

#36 Joe2.0 on 06.02.17 at 8:23 pm

Vancouver market on fire.
Sunshine Coast market on fire.
Isn’t going to change with the low interest rates and Christies first time buyers incentives.
Should change the name if this blog to “What if” or “Maybe next year” or “I’ve been priced out”

#37 Chico on 06.02.17 at 8:26 pm

Global warming.

Someone by the name “fake news” posted some info about global warming yesterday. I have spent less than 30 seconds in my entire life thinking about the subject but I typed in a couple of his references and found a noble laureate by the name of Ivar Giaever on youtube. It’s under 30 minutes and it’s simply a bunch of facts about the subject from a scientist that shows the incredible lack of data to support the claims of global warming.

#38 paulo on 06.02.17 at 8:47 pm

#2 livin large

30K C$ gross sales to register requirement.

if you are under 30K don’t forget you still have to report the income. have met more than a few thought otherwise

#39 paulo on 06.02.17 at 8:54 pm

#30 trump for the ages

i think this a blip as the US economy reaches effective full employment,with lagging wage increases starting to show
still looking for a .25 in July from the fed

#40 Great Opportunity on 06.02.17 at 9:02 pm

Sounds like a great opportunity for Frank and his wife to openly declare their business and take a capital loss (if real estate prices are really falling). How long can that loss be carried forward?

The loss of the principal residence status bites hard in a rising market, how about in a declining market?

#41 For those about to flop... on 06.02.17 at 9:03 pm

I posted this one on the previous thread as a counterpoint to the giddy ones.

I added Sunshine Coast to this one since someone was talking porkies…

If you have a look on page 8 of that report there are a couple of numbers that jump out at me…

M42BC

Sales y.o.y detached

– 47.9% West Vancouver

-38.9% Westside Vancouver

– 36% Port Coquitlam

-31.5% Burnaby

-17.7% Eastside Vancouver

-29.6% Richmond

-47.1% Sunshine Coast

Greater Vancouver average = – 34.5%

#42 Game Over on 06.02.17 at 9:04 pm

#37 Chico

That’s great, you looked at one source, an opinion from Dr.Nick on youtube and you are convinced its all lies, despite the smartest people in the world all in consensus that global warming is real. 30 seconds googling Ivar Giaever reveals that while he might know something about diodes, he knows nothing about climate change.

Oh yeah, must be a conspiracy. Everyone is in on it to get us to buy solar panels or give up our rights or whatever..

Or, maybe it is the fact that all the Republicans that convinced Trump to ditch the Paris accord were in Big Oil’s pocket.

https://www.theguardian.com/us-news/2017/jun/01/republican-senators-paris-climate-deal-energy-donations

https://www.desmogblog.com/2016/01/04/ivar-giaever-nobel-icon-for-climate-deniers

#43 yorkville renter on 06.02.17 at 9:06 pm

so, Vancouver #s are down from same month last year and everyone says the market is on fire? how’s that? was it nuclear last year?

#44 Happy Housing Crash Everyone! on 06.02.17 at 9:09 pm

#35 crdt on 06.02.17 at 8:22 pm
Every time the real estate board misleads the public they give more justification for the NDP and Green party to regulate, which will steepen the downward trajectory. Short term

These shysters are idiots. They lies because they are useless. They offer no value and are thus forced to lie cheat and steal Like criminal scum. It funny watching them bury themselves with their own lies. Happy Housing Crash Everyone! :-) Vancouver RE is hot again! ROTFLMFAO STUPID SHYSTERS

#45 Mike on 06.02.17 at 9:13 pm

.
Housing crash in Vancouver—never seems like. NEVER.

#46 Leo Trollstoy on 06.02.17 at 9:19 pm

…smartest people in the world all in consensus that global warming is real…

It’s not a consensus fyi

Read the question they asked these “smartest people in the world” and what they were agreeing to

Unless you’re just going to buy the MSM version

#47 A Reply to #37 Chico on 06.02.17 at 9:22 pm

That was 10 seconds of my life that I will never get back!

#48 Deplorable Dude on 06.02.17 at 9:23 pm

#226 on 2.6.17
“Explain to me what Trump means (and what you mean) by making America great again! When will you know that Trump has made America great again?”

Its quite straight forward…

I’m assuming you’ve never listened to any of his speeches, he lays it out time and again…

His ‘contract with the American voter’

Seems pretty common sense to me.

https://assets.donaldjtrump.com/_landings/contract/O-TRU-102316-Contractv02.pdf

#49 John in Mtl on 06.02.17 at 9:24 pm

@ #37 Chico on 06.02.17 at 8:26 pm

Global warming.

Here, Chico, go do some reading…

http://viableopposition.blogspot.ca/2017/06/is-there-scientific-consensus-on.html

“At the very least, the conclusions drawn by this study suggest that there is far greater consensus among qualified climate scientists than many climate change naysayers would suggest. “

#50 young & foolish on 06.02.17 at 9:25 pm

“… I’ve just been piling them up. So far those are the best performing parts of my portfolio …”

Demographics, debt, and automation are all contributing to deflation … US treasuries at 2% may turn out to be better than it sounds.

#51 bigtowne on 06.02.17 at 9:33 pm

You get fresh clean linen; a front desk to fix the room; a door and a lock; good cable TV; wifi and phone and a coffee pot at most basic hotel/motels in Canada; U.S. and the Caribean. It seems very foolish to pay twice as much cash (cannot use credit card at Airbnb and they ask ridiculous deposits) for a not professionally cleaned property; no security; and no maid to stay at Airbnb. I do not get the Airbnb..half the time they never tell you that it’s five fliglts up with no elevator and it reeks of garlic like the Bloor West subway. Even in Mexico the most standard hotel is professional and give you a continental breakfast in the morning and your receipt when you check out. In Central America the cheapest joints all have pools and bidets and are clean as whistles. I can see Airbnb for Cuba where they are more or less off the grid. Homeaway bought them out. Homeaway was good up until recently where you would get a rate by the week or month and now Expedia and the bots have gone the way of the “algorithms” and “data mining” so book a Motel 6 and Tom Bodett will keep the light on for you.

#52 Courage and Poo on 06.02.17 at 9:33 pm

However the bitcoin price is doing awesome.

#53 the Hammer on 06.02.17 at 9:39 pm

I’m going to channel Cato the Elder from here on out. (a true conservative)

Trump ire necesse est.

#54 Mark on 06.02.17 at 9:46 pm

“with hotels where quality rooms (in Toronto or Vancouver, at least) start north of $600 a night”

Whaaaaat? I stayed a week in Vancouver for my surgery at a very prominent private surgery clinic a few months back, in a very nice room, and it was barely over $120/night. I don’t even think a room at the Fairmont is $600 a night these days.

$120 a night, plus a kidney? – Garth

#55 Herb on 06.02.17 at 9:48 pm

#40 Great Opportunity,

don’t forget that a capital loss can only be applied against past or future capital gains. If you don’t have those, your capital loss is a loss indeed.

#56 Mark on 06.02.17 at 9:48 pm

BTW, to that poster who recommended a surgeon the other day to the guy who needed it in Vancouver.. “+1”. :)

#57 Ponzius Pilatus on 06.02.17 at 9:52 pm

I’m no expert on climate change.
But the only thing I know is for sure:
If I attach a hose to the exhaust pipe of my running car and put my mouth on the other end of the hose, I’d probably be dead in a minute.
People, why are you so dense.
Pollution kills!

#58 Chico on 06.02.17 at 9:59 pm

#42 Game Over on 06.02.17 at 9:04 pm

#37 Chico

That’s great, you looked at one source, an opinion from Dr.Nick on youtube and you are convinced its all lies, despite the smartest people in the world all in consensus that global warming is real. 30 seconds googling Ivar Giaever reveals that while he might know something about diodes, he knows nothing about climate change.

— —

I never stated it’s all lies, I don’t know if it is or not. What he stood up and showed was a bunch of data from places like nasa and other reputable sources that anyone can find, and that tell another story. His primary complaint, is that it has become a religion that cannot be questioned. Why can’t we question the science? Don’t tell me scientists don’t make mistakes or get grants from nefarious sources.

If you are more knowledgeable than me, watch the 30 minute video from 2015 and tell me where he’s wrong.

#59 The Technical Analyst, CSTA, CPD on 06.02.17 at 10:07 pm

My policy is firmly:

1. NEVER stay at an AIR B&B, ever, ever. I value my life and my goods more than saving a few bucks.

2. NEVER use Uber or ride share. I value my life and my goods more than saving a few bucks.

If you are married, double down on the above because as a man, you shouldn’t be putting your wife in ANY situation that is potentially dangerous.

#60 Pete from St. Cesaire on 06.02.17 at 10:09 pm

I’ve told you a million times: You don’t own your house, even if you’ve paid for it in full. Owning something where others can tell you what you can or cannot do with it; well that isn’t my definition of ownership. And don’t say that I’m advocating that people should be able to run others down with their cars. I’m talking about things such as being able to let others stay at your place or what flow rate your toilet must have.

#61 Pete from St. Cesaire on 06.02.17 at 10:25 pm

Uber is great (and I used to be a taxi driver).
AirBNB I wouldn’t get excited about for all of the reasons others have mentioned above. I still don’t understand why people use a service based in the US or Canada which is so easily subject to the courts. Someone should set up a similar program and base it in Andorra or Sealand. After all it’s just a website. It would make it much harder for the ‘authorities’ to track and crack down on it.

#62 meslippery on 06.02.17 at 10:29 pm

#10 crowdedelevatorfartz on 06.02.17 at 6:56 pm

Any Uber car accident passengers try and recoup personal injury insurance claims yet?
——————-
If you have no wealth the idea that insurance is something
you might consider over the cost of a ride well maybe not.

#63 Sir James on 06.02.17 at 10:32 pm

Ethereum Smart Contract Error Costs Canadian Cryptocurrency Exchange $14 Million

http://www.coindesk.com/ethereum-smart-contract-exchange-14-million/

#64 TrumpForTheAges on 06.02.17 at 10:34 pm

#39…..Paulo,

“i think this a blip as the US economy reaches effective full employment,with lagging wage increases starting to show
still looking for a .25 in July from the fed”

Maybe. However, an annualized GDP growth rate of 2% or less will not support the debt financing costs on $20 T in a normalizing interest rate environment. Look at the bond market – 10 year Treasury yields are signalling otherwise.

#65 M-F on 06.02.17 at 10:43 pm

Nonplused: “declining Net Energy Return on Energy Invested. ” – this is not true for Wind & Solar. it is the opposite, the price is coming down fast, and has come down quickly. They are now among the cheapest ways to generate electricity in many countries, even without subsidies, and are getting cheaper.

#66 Pete on 06.02.17 at 10:56 pm

airbnb is crap, I get it. But what is wrong with Uber? I use Uber all the time. Far safer, cheaper and better service and every trip is properly documented.

#67 Madcat on 06.02.17 at 11:02 pm

I don’t know why anyone bothers to have a job… Why work when you can just buy a property in Vancouver and flip it next year LOL!

#68 More Deplorability on 06.02.17 at 11:08 pm

Hey, Smoking Man. Barbara Streisand tweeted, “Donald Trump makes U.S. an international embarrassment on climate. #TragicallyStupid.” She also tweeted, “Donald Trump proposes a budget that hurts many of the same people who voted for him.”

Before you launch a deplorable attack on her abilities and talents (just like Trump attacked Meryl Streep), be aware that she is one of only two people on the planet who has been awarded a Peabody, Emmy, Grammy, Oscar and Tony.

Now, explain to us all how you’re so much more talented than she, and that your politics are so vastly superior to the mainstream. (I need a giggle.)

#69 A Reply to #53 the Hammer on 06.02.17 at 11:39 pm

“Trump ire necesse est.”

Assentior.

#70 n1tro on 06.02.17 at 11:41 pm

@Chico

Don’t mind the regurgitating talking heads. They all try to dismiss legit concerns by going extreme and painting the questioner as a nut or conspiracist.

When criticizing your self research of 1 link, they provide a whopping 2 links that deflect from the topic at hand.

Then you get others who claim they know nothing about climate change but use the example of inhaling carbon monoxide which would kill them as definitive proof that climate change is bad.

Lets start the conversation shall we?

A climate change argument as seen in Al Gore’s documentary:
Melting ice caps (due to global warming) are raising ocean water levels which will submerge coastal cities.
Climate changers claim water levels will rise 20ft within the next 100yrs or something along those lines.

A climate “denier” counter: Ocean levels have risen about 7inches in the last 100 years.

There are scientific articles trying to show evidence for both sides if you google it up.

Who’s lying?

I dont know but I find it interesting that Al Gore buys beach front property.
http://articles.latimes.com/2010/may/08/home/la-hm-hotprop-20100508

#71 viorelli on 06.02.17 at 11:46 pm

Its wild west out here in GVRD again, hosing is on fire, bidding wars, very low vacancy rates. The cruise ships are coming and tourists are flooding in at the record levels, they tell us that. Talked with a home inspector last night, the city hall just busted a basement in a lane way house (they don’t allow those by the way, only a story and a half above ground level). The actual lane way house was to be at 850 sq.ft, but had been maximized underground to an additional 1400 sq.ft When you move the flower beds aside you see nice skylights and ventilation shafts. Now I am wondering about his main house situated on the same lot? People are definitely getting very creative here in the best place on earth.

#72 guru on 06.02.17 at 11:52 pm

laughing at the markham house above…. There’s a person at work who just told me that they’re looking to put an offer on a house near mid-town Toronto. I asked if she’s aware of the increased listings and prices softening, her response was that she wasn’t aware or heard of any news that TO real estate may slow down. Moral of the story is that there are a lot of clueless people out that who have no clue what is going on except for working, sleeping, watch tv and work again … .These are the ones that will get burned bad.

#73 Chaddywack on 06.03.17 at 12:15 am

A lot of people still think that CRA won’t catch them. I’m sure the bylaw guys probably tipped off CRA. Like I said before, all a landlord has to do is piss off a tenant (or an ex) and CRA could be on the audit path.

I know many people who used to work there and they do take credible leads VERY seriously. People can report them online now too-even easier!…….it’s always better to do things above board, even though most people in Vancouver probably don’t declare their rental suites or any other sources of “cash” income.

Garth would know this too, he used to run CRA. But I’m sure he’s still subject to a lifetime gag order from the feds.

#74 Muttley O'Toole on 06.03.17 at 12:25 am

http://www.dailytelegraph.com.au/blogs/tim-blair/boy-out-of-the-band/news-story/f478daeecc3a15284e5d8abe4f14bbe2
Well I have followed this blog for a long time and I know that in the end Garth, and truth, wins out.
But, although our bubble down under is the next to blow, the above is a true reflection (imho) on the ineptitude of the political class.

#75 NoName on 06.03.17 at 12:29 am

Few yrs back my cousin from london called me all excited that she got tickets for red hot chily pepers in some small club in berlin, she sad i m flying out tomorow or next week, camt re,ember, i am back in a few days, than that vulcano went off and all flight were grounded. and it got funnier… but what kicker was band was red hot chilli pipers, not peppers

Red Hot Chili Peppers
https://youtu.be/Q0oIoR9mLwc

Red Hot Chilli Pipers
https://youtu.be/QIvzPoA-Vq0

no word of a lie here,

#76 Ronaldo on 06.03.17 at 12:30 am

#57 Ponzius Pilatus on 06.02.17 at 9:52 pm

I’m no expert on climate change.
But the only thing I know is for sure:
If I attach a hose to the exhaust pipe of my running car and put my mouth on the other end of the hose, I’d probably be dead in a minute.
People, why are you so dense.
Pollution kills!
——————————————————————
I’m no expert on it either but what I do know is that each year and increasing, the world consumes 8,400,000,000 tonnes of coal. This represents a continuous train stretching 840,000 miles and circling the earth 33.5 times. And that is each year. You’d think we’d all be dead by now. Anyway, my two cents worth.

#77 Long-Time Lurker on 06.03.17 at 12:31 am

#70 n1tro on 06.02.17 at 11:41 pm

More on Al Gore:

https://jonrappoport.wordpress.com/2017/06/02/break-out-the-co2-bubbly-al-gore-is-crying-in-his-beer/

With Trump’s historic rejection of the Paris climate treaty, Al Gore is deep in a funk.

But don’t weep for Al. He can still amuse himself counting his money. Yes, Al’s done very well for himself hustling the “settled science” all these years, shilling for an energy-depleted Globalist utopia.

Another Climate Change Viewpoint:

https://jonrappoport.wordpress.com/2017/06/01/historic-trump-rejects-paris-climate-treaty/

The science is settled? There is no room for argument?

Freeman Dyson, physicist and mathematician, professor emeritus at Princeton’s Institute for Advanced Study, Fellow of the Royal Society, winner of the Lorentz Medal, the Max Planck Medal, the Fermi Award: “What has happened in the past 10 years is that the discrepancies [in climate change models] between what’s observed and what’s predicted have become much stronger. It’s clear now the [climate change] models are wrong, but it wasn’t so clear 10 years ago… I’m 100 per cent Democrat myself, and I like Obama. But he took the wrong side on this [climate change] issue, and the Republicans took the right side…” (The Register, October 11, 2015)

Dr. Ivar Giaever, Nobel-prize winner in Physics (1973), reported by Climate Depot, July 8, 2015: “Global warming is a non-problem…I say this to Obama: Excuse me, Mr. President, but you’re wrong. Dead wrong.”

Green Guru James Lovelock, who once predicted imminent destruction of the planet via global warming: “The computer models just weren’t reliable. In fact, I’m not sure the whole thing isn’t crazy, this climate change.” (The Guardian, September 30, 2016)

And these are but a tiny fraction of the statements made by dissident scientists who reject manmade global warming.

But regardless, never lose sight of agenda based on this “settled science.”….

…Obama signed on in Paris, knowing full well he was committing a criminally unconstitutional act by disregarding the vote of the US senate, a vote that was needed to confer legitimacy to the agreement….

#78 Steerage steward on 06.03.17 at 1:16 am

At a certain point saying I tould you so does not seem enough

#79 Steerage steward on 06.03.17 at 1:21 am

Eather laugh or cry. I choose to laugh

https://www.bcndp.ca/platform

https://m.youtube.com/watch?v=RliFuVuAfBM

At least they believe in Science.

#80 Steerage steward on 06.03.17 at 1:40 am

https://m.youtube.com/watch?v=rM5Zbk3xzI0

Garth is the voice in the wilderness. Let no one say they did not see this coming

#81 Steerage steward on 06.03.17 at 1:50 am

When Garth is right we will be in a hard world. Garth is usually right

#82 Jason on 06.03.17 at 1:54 am

#41 For those about to flop…

Declining sales just mean less to bid on. Take a look at condos or anything in the low end of the market in those same areas and you’ll see things have been ticking up like gangbusters.
CHPC has been updated and it supports this: http://www.chpc.biz/vancouver-housing.html

#83 Muttley O'Toole on 06.03.17 at 1:57 am

#57 and if you put your head in a bucket of water for 3-4 minutes you will probably be dead also.

#84 Steerage steward on 06.03.17 at 2:22 am

https://m.youtube.com/watch?v=DB4z492z2hg

#85 Myra Andrews on 06.03.17 at 2:24 am

Vancouver stats June 2 (originally posted by realtor Paul Boenisch)

New 181
Price Change 39
Sold 200
TI:8688

http://www.clivestevepaul.com

#86 Steerage steward on 06.03.17 at 2:33 am

https://m.youtube.com/watch?v=ZNCUgFeIjyM

Smile or cry

#87 SquareNinja on 06.03.17 at 3:17 am

#20 Pepito on 06.02.17 at 7:28 pm – Airbnb and Uber provide people with a flexible income. Not something you old people would understand, what with your 9-5 jobs and set date for retirement!

The Sharing Economy is the way of the future. What most people don’t see is that the Sharing Economy is actually good for the environment – it doesn’t require the constant gobbling-up of resources; the growth economy is as passe as driving your car.

#33 AB Boxster on 06.02.17 at 8:17 pm – EXACTLY!!!

#51 bigtowne on 06.02.17 at 9:33 pm – *cough* Airbnb is usually half the price of a comparable hotel, not the other way around. Maybe some people prefer not to pay $150 to sleep in a room when they’re there to see the city.

Anecdote time: My wife and I were on a trip to Hong Kong and wanted specifically to stay in Wanchai. The cheapest hotel in the area was $120 USD per night, but guess what? We found an Airbnb on the 8th floor of an apartment with an elevator for $67 USD per night. It was clean, smelled good, there was free wine/beer and coffee. The view was fabulous and it was exactly where we wanted to stay.

… and why do I want a hotel breakfast in the morning? If you think a “continental breakfast” sounds fancy, please search for “Continental Breakfast – Key & Peele” on YouTube.

#59 The Technical Analyst, CSTA, CPD on 06.02.17 at 10:07 pm – Firstly, you’re sexist. Secondly, you obviously have never used Uber or Airbnb before.

#60 Pete from St. Cesaire on 06.02.17 at 10:09 pm – It’s so true! If your damn neighbours complain about you because you’re not doing the same as they are, there’s not much you can do about it.

#61 Pete from St. Cesaire on 06.02.17 at 10:25 pm – I think that there’s a lot less liability associated with Airbnb, as it’s not a vehicle that’s on the road, unlike Uber. That said, it’s mostly bylaw officers and the tax man that are after Airbnb hosts. There are a lot more “people with jobs” after Uber drivers in places where it isn’t fully legal!

#71 viorelli on 06.02.17 at 11:46 pm – That’s interesting about the laneway house! There was a BBC documentary I saw on YouTube that talked about how rich people from around the world were buying London houses which were protected historically (i.e. you could not change how the house looked, therefore no additions)… so to make space, they were digging massive basements. Like, multi-story basements that doubled or tripled the size of the original house. Totally cool.

#88 me on 06.03.17 at 4:03 am

https://m.youtube.com/watch?v=SBgeCZW3upg

#89 John on 06.03.17 at 6:52 am

Not sure why people are down on AirBnB. I use it often and it is great. Much cheaper than hotels. Anytime the consumer gets a choice it is a win.

#90 maxx on 06.03.17 at 7:26 am

#26 Nonplused on 06.02.17 at 7:38 pm

“So here is a question I have, if you have a US dollar account with a Canadian bank is it CDIC insured?””

No.

http://www.cdic.ca/en/about-di/what-we-cover/Pages/default.aspx?gclid=COrjiqfIodQCFVW1wAod0CcJDw

Careful which bank you place it in.

#91 paulo on 06.03.17 at 7:35 am

as far as uber is concerned they just started a unique experiment in the town of innisfill ontario just south of barrie. this is in partnership with the town with a revenue splitting arrangement and subsidy in lou of the town providing additional public transit infrastructure said to in the end save the town revenues while providing better services to town citizens. just started a
short while ago. it will be interesting to see how it works out after a year

#92 Chico on 06.03.17 at 7:49 am

I’ve been known to frequent a blog by some discarded politician who has had the nerve to blather on endlessly about a contrarian view regarding the state of real estate debt in Canada.

Houses always go up.
Debt is good.

Of course, if everybody is saying it, I’m supposed to just shut up and get in line.

On 13 September 2011, Giaever resigned from the American Physical Society over its official position. The APS Fellow noted: “In the APS it is ok to discuss whether the mass of the proton changes over time and how a multi-universe behaves, but the evidence of global warming is incontrovertible?”

Once something is described as “incontrovertible,” no more thinking is allowed. If no more thinking is allowed, then people are stripped of what makes them truly human: the ability to think, change and grow.

#93 Ontario's Left Coast on 06.03.17 at 8:05 am

A question for the dogs: How do explain the recent slide in rate-reset prefs such as CPD? Thanks!

Why would you care about a temporary fluctuation? CPD – one-year total return: 15.33%, Distribution yield: 4.74%, Risk rating: low. Plus you get to collect the dividend tax credit. Worry about things worth worrying about. This ain’t one of them — Garth

#94 maxx on 06.03.17 at 8:14 am

#33 AB Boxster on 06.02.17 at 8:17 pm

Completely agree.
It’s about time conventional business got a good kick in the groin. It’s ruled the roost for far too long and many individuals are quite capable of running a small business – tons of them with value added you’d never get from a large business.

#95 Pepito on 06.03.17 at 8:36 am

#87 SquareNinja on 06.03.17 at 3:17 am
#20 Pepito on 06.02.17 at 7:28 pm – Airbnb and Uber provide people with a flexible income. Not something you old people would understand, what with your 9-5 jobs and set date for retirement!
_______________________

You do assume a lot. Looks like you’re just parroting the talking points. There is nothing “sharing” about the branded sharing economy. You pay for the service, not split the cost of running it. Uber is a taxi service in everything but name, with the notable exception that it is not regulated at all. No set fee, no protection for the driver, and no assurance that either the car or the driver is qualified to carry passengers. Airbnb is a hotel in everything but name with the exception that it is also not regulated and not inspected for safety as all hotels must be. The social cost of Airbnb is dumped on residents in areas where they would prefer not to have a hotel next door.

Both services masquerade their exploitation with hip lingo such as “sharing economy” and thoughtless idiots just buy into it without realizing that both services are raking in their 10% on every room and ride while turning back the clock on long fought for social rights and obligations that citizens of civilized nations now enjoy.

Sure, why not, bring back the wild west days, as long as it sounds cool and uses an app.

#96 maxx on 06.03.17 at 8:36 am

#60 Pete from St. Cesaire on 06.02.17 at 10:09 pm

“I’ve told you a million times: You don’t own your house, even if you’ve paid for it in full. Owning something where others can tell you what you can or cannot do with it; well that isn’t my definition of ownership. And don’t say that I’m advocating that people should be able to run others down with their cars. I’m talking about things such as being able to let others stay at your place or what flow rate your toilet must have.”

Not always a bad thing, Pete. I for one DO NOT want “holidaymakers” or noisy, entitled idiots doing the revolving door thing next to my quiet nest. That is why residential zoning exists.

I agree to some extent that homeowners suffer some municipal interference, but this is one issue I completely align with City Hall on.

Renting is a bonafide business and in areas zoned residential, renting should never be stretched to hotel-level short terms.

The Franks of the world can take their business fantasies out of residential areas. PERIOD.

#97 Different Points of View on 06.03.17 at 8:44 am

Putin: “We Should Be Grateful To President Trump: In Moscow It’s Cold And Snowing”

http://www.zerohedge.com/news/2017-06-02/putin-blames-election-hacking-politically-minded-russian-patriots

#98 KLNR on 06.03.17 at 9:51 am

Same old, same old in west end Toronto.
Houses pop up and sell immediately with those cute little “sold over asking” stickers attached to the for sale sign.
Can’t comment on the burbs but Toronto proper is as insane as ever.

#99 KLNR on 06.03.17 at 9:55 am

#87 SquareNinja

Couldn’t agree more. This is only the beginning.
No point fighting the future.

#100 For those about to flop... on 06.03.17 at 10:07 am

#82 Jason on 06.03.17 at 1:54 am
#41 For those about to flop…

Declining sales just mean less to bid on. Take a look at condos or anything in the low end of the market in those same areas and you’ll see things have been ticking up like gangbusters.
CHPC has been updated and it supports this: http://www.chpc.biz/vancouver-housing.html

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

I’d estimate you were on your ninth can out of a six- pack when you wrote this post…

M42BC

#101 Howard on 06.03.17 at 10:07 am

I’ve used AirBnB extensively throughout Europe, and particularly when moving to Paris. I hopped around through various AirBnB rentalsm, trying out different neighbourhoods, before settling on one I liked and finding an apartment of my own. I’ve never had a bad experience – a few mediocre ones, but none that I’d call negative.

Haters gotta hate, but AirBnB is a godsend for middle-class travellers, and I’d rather give my money to a private citizen (yes, plus AirBnB’s cut, obviously) than some hotel chain charging obscene prices for a bed and a shower.

#102 crowdedelevatorfartz on 06.03.17 at 10:22 am

@#62 meslippery
“If you have no wealth the idea that insurance is something you might consider over the cost of a ride well maybe not.”
*******

Please read my comment again.

I was referring to PERSONAL INJURY CLAIMS…..
You know.
Where , as an Uber passenger , after a car accident you are paralysed and can never work again… hence….. you will require the proceeds of an insurance settlement to live out the rest of your life .
It wont matter if you’re a 20 year old hipster with tats, a man bun and the obligatory beard and all your worldly possessions consist of a smartphone……

Paralysed is paralysed and you will either need a cash settlement from car insurance or wealthy parents to get you through the next 50 years of life.

Will a car accident in an Uber driven car be a legal nightmare?

#103 crowdedelevatorfartz on 06.03.17 at 10:33 am

@#87 SquareNinja
“Airbnb and Uber provide people with a flexible income. Not something you old people would understand, what with your 9-5 jobs and set date for retirement!”
+++++++

I guess we wont talk about the teenage girl that was assaulted by an Uber driver in Ontario…..

https://www.google.ca/url?url=https://www.theguardian.com/technology/2017/may/23/uber-canada-toronto-driver-woman-kidnapping&rct=j&frm=1&q=&esrc=s&sa=U&ved=0ahUKEwjmitzg8aHUAhVdHGMKHY_4D74QFggUMAA&usg=AFQjCNFbhIxxlNslpoeR-zWxicqW6Gg-FQ

Or the reverse.

https://www.google.ca/url?url=https://www.theguardian.com/technology/2017/may/01/uber-sexual-assault-allegations-female-drivers-san-diego&rct=j&frm=1&q=&esrc=s&sa=U&ved=0ahUKEwjmitzg8aHUAhVdHGMKHY_4D74QFggaMAE&usg=AFQjCNHxKN5lVGuwS1plOtMQn4GN19lXnQ

nah. I’ll stick to a licensed cab and keep strangers out of my car and house thanks …… But you Hipsters just keep reminding yourselves that your special and much smarter than everyone else.

Not to worry.
Uber and Airbnb will become just as regulated as every other business out there and …… the tax man will cometh..

#104 For those about to flop... on 06.03.17 at 10:47 am

#29 YVR down? on 06.02.17 at 8:02 pm
Flop’s (M42BC) , any news on these properties, it’s from Ross Kay twitter feed:

not sure if it’s lost from sales or lost of market value from peak last march 2016

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

O.k Yvr down I went to Ross Kay’s Twitter feed and noted this exchange…

Ross Kay @rosskay
·
14h

Peak Price is recorded when the Highest Appraised Value using the CUSPAP definition was recorded. Depending on locale that was July/Sept16.

Joewong604 @joewong6042
Thx. What was this sold date and price. Vs peak price?

I live near the one on Inverness and nothing that dramatic has happened yet on paper that i am aware of.

There are places that were selling for 1.6 this time last year that are struggling to get 1.3/1.4 but where the real money is being made at the moment in my neighborhood is the ones who have houses on Fraser st. and are doing land assembly.
Some of them are asking and presumedly getting millions above assessed so condos can be built.

It’s still a detached residential neighborhood largely ,but one development definitely changed a lot of people’s thinking called Century that came in with a No Frills,Shoppers and Starbucks as there hadn’t been much development in the traditional retail zone in this neighborhood between 41st and 49th.

As far as candidates to make big money or take a sizeable loss I am still waiting for a realtor to tell me the results of these heavy hitting flips.

4249 Hudson st. Vancouver paid 6.2 asking 6.88

4765 Pilot Rd West Vancouver 5m.paid asking 5.295

4006 w 34th ave Vancouver paid 5 asking 5.58

Also this condo just went in Richmond and so hopefully we will see if it was worth their time as well.

Woeful (global) news last night was hilarious…

M42BC

96 6300 Birch Street, Richmond paid 1.03 asking 1.08

#105 Draining the Swamp on 06.03.17 at 10:52 am

Could one of the deplorables explain to me how these recent ethics waivers granted by the White House to ex-lobbyists, and numerous others who have joined government, including Steve Bannon and Kellyanne Conway, drain the swamp? Or is this just fake news?

All these shenanigans remind me of the plot to the allegorical novella Animal Farm by Eric Arthur Blair.

#106 Livin Large on 06.03.17 at 10:56 am

Thanks Joseph, shocking that in over 20 years that threshold hasn’t changed one cent.

#107 Slim on 06.03.17 at 11:00 am

There are around 8 million research scientists (UNESCO stat.) in the world, and Trump would struggle to find a dozen who agree with him. Where is the research pointing in another direction? There is none, although people have looked for it.

#108 Smoking Man on 06.03.17 at 11:11 am

Libs lose the last 5 bye election.

Ontario is going blue then Canada.

#109 AB Boxster on 06.03.17 at 11:13 am

#94 maxx on 06.03.17 at 8:14 am

——————————————–
I think that cities and their ever increasing lust for revenue and taxes in general, stifle small business.

Property tax increase for small businesses in Calgary have gone through the roof.

http://calgaryherald.com/news/local-news/calgary-business-owners-face-bleak-property-tax-bills

The cities just keep asking for more for their pet projects, (we ‘need’ art on every street corner) and small businesses either pay up or leave, and many are choosing to leave.

AirBnb and Uber make the challenge for small business playing by the city rules, more difficult.

It have no problem with the AirBnb’s of the world. However, I think that if they are going to compete as small businesses they need to be categorized as businesses.

I don’t think that most businesses have a problem with competition, but I think that they need it to be fair.

If Airbnb establishments have to pay no business tax, and do not have to comply with the regulations that actual small business has to comply with, then the playing field is not level.

This is just another example of disruptive technologies that are impacting the world, that governments have no clue how to react to.

On the one hand I think that AirBnb’s should be treated as businesses, but on the other hand, governments need to stop overtaxing, over regulating and over managing all small businesses so that they can thrive,
and compete fairly.

In today’s ‘progressive’ Canadian political climate, hoping to find a government (municipal, provincial, or federal) that would actually tax and regulate less is highly unlikely.

#110 Ownership on 06.03.17 at 11:20 am

#60
You don’t own your house, even if you’ve paid for it in full.

Yup, look up ‘freehold’, it turns out the Queen owns the private land in Canada.

#111 Smoking Man on 06.03.17 at 11:21 am

#68 More Deplorability on 06.02.17 at 11:08 pm
Hey, Smoking Man. Barbara Streisand tweeted, “Donald Trump makes U.S. an international embarrassment on climate. #TragicallyStupid.” She also tweeted, “Donald Trump proposes a budget that hurts many of the same people who voted for him.”

Before you launch a deplorable attack on her abilities and talents (just like Trump attacked Meryl Streep), be aware that she is one of only two people on the planet who has been awarded a Peabody, Emmy, Grammy, Oscar and Tony.

Now, explain to us all how you’re so much more talented than she, and that your politics are so vastly superior to the mainstream. (I need a giggle.)
…..

She old, done, dementia. Holly Wood should be carful. Historically Deplorables never bothered with boycotts and shunning bad actors.

Times are changing. Kathy Griffen is now gig less.
Activism from the right was non existent till Trump.

Paybacks going to be a bitch.

#112 Ret on 06.03.17 at 11:23 am

#90 “So here is a question I have, if you have a US dollar account with a Canadian bank is it CDIC insured?”

Consider setting up a US bank account. You have to declare yourself as a “non-resident alien,”and fill out the paperwork as you are not a US citizen. Thoughly investigate the limits for moving currency, negotiable instruments etc. across both the US and CDN border.

Don’t even think of lying. Unlike Canada, the US treats tax fraud very seriously. They take your money and keep it. Also, it is highly recommended that you bring your pajamas to your court appearance.

If you skip the court appearance, a bench warrant will be issued for every police force, airport and border crossing in the US to access. Yeah, the US government computers are networked.

You are covered under FDIC for $250,000 USD, even as an alien!

Watch out for monthly fees on bank accounts. Declare your interest, which will be slim to none, on your CDN income tax.

My US account is part of my exit plan if the banks and credit unions start to fold here.

See the second paragraph in this link if you are thinking about making deposits in the US as an alien.

https://www.fdic.gov/deposit/deposits/brochures/your_insured_deposits-english.html

#113 InvestorsFriend on 06.03.17 at 11:27 am

A Realized Capital Loss is Always a loss

#55 Herb on 06.02.17 at 9:48 pm
#40 Great Opportunity,

don’t forget that a capital loss can only be applied against past or future capital gains. If you don’t have those, your capital loss is a loss indeed.

*****************************************
Personally, I have no interest (or experience) at all in generating capital losses to offset realised capital gains.

A realized capital loss is a loss. It can be mitigated by offsetting realized taxable gains. But I just focus on avoiding the loss. I had some large taxable gains in 2016. I have zero regret for having no realized capital losses to offset that.

Make money and then pay the taxes due without complaint. You will be happier and probably wealthier for such an attitude.

#114 Ace Goodheart on 06.03.17 at 12:06 pm

RE: “#17 TortyPapa on 06.02.17 at 7:18 pm
Vancouver’s hot again! Houses out of reach now. Good bye all the talent and young professionals trying to raise a family. We’ll just pick up and move to Toronto :)”

Look closer at the articles about this. Condos and townhomes up in price, detached houses are on the market longer and no one is buying them.

Price plateau. Goldilocks zone. Once the prices get out of line with middle class affordability, sales go off a cliff. Then the current homeowners cannot sell and just hold on, hoping things will improve.

#115 Wrk.dover on 06.03.17 at 12:16 pm

#76 Ronaldo on 06.03.17 at 12:30 am

I’m no expert on it either but what I do know is that each year and increasing, the world consumes 8,400,000,000 tonnes of coal. This represents a continuous train stretching 840,000 miles and circling the earth 33.5 times. And that is each year. You’d think we’d all be dead by now. Anyway, my two cents worth.

—————————————–

And this has been going on since at least long before Jesus walked too, right Ronaldo?

#116 InvestorsFriend on 06.03.17 at 1:00 pm

Realized Taxable Capital Gains on Stocks

Is something to avoid especially in the savings phase of life. In taxable accounts buy good stocks that you are prepared to hold indefinitely (assuming you are cowboy enough to do individual stocks). Then hold. Maybe sell if it gets really stupidly over-valued but in general try to hold indefinitely. This defers the taxes for years and years.

Totally ignore any advice that no profit is made until an asset is sold. Completely false in the case of good solid companies that grow over time.

#117 Figure it out on 06.03.17 at 1:21 pm

#58 Chico — “If you are more knowledgeable than me, watch the 30 minute video from 2015 and tell me where he’s wrong.”

No way I’m wasting 30 minutes of my life in an attempt to debunk a non-consensus view on a hard-science topic.

In some fields, such as investing or economics, it may be worthwhile to examine non-consensus views, because the mainstream thinkers in those fields don’t seem to be able to predict or explain diddly, though they try mightily.

Not so the hard sciences. I can think of plenty of cases where an iconoclast with a new idea was at first rejected, only to have his view become mainstream as more evidence was gathered. But I can’t think of any cases where someone argued that an older, superseded theory was actually correct (in this case, that we can pump billions of tonnnes of carbon dioxide into the atmosphere with no ill effects), and science eventually backtracked on its new, consensus theory in favour of the older one.

Cui bono?

#118 Leo Trollstoy on 06.03.17 at 1:46 pm

Why wouldn’t India be for the Paris climate accord? India has agreed to continue increasing their emissions while also having their green energy initiatives financed by other countries.

This is literally India’s pledge:

1) Grow economy by 6-7% per year increasing emissions and coal usage.

2) Pay no money to climate fund

3) Use money gifted by other countries to implement some green energy sources.

Wow, what a tough choice for India.

TL;DR: India and other “developing” countries get money for agreeing to Paris Climate Accord. Easy decision.

#119 Howard on 06.03.17 at 2:08 pm

First two Toronto Star articles right now on the website :

Why we bought a townhouse in cottage country
https://www.thestar.com/business/real_estate/2017/06/03/high-prices-in-cottage-country-spark-interest-in-non-traditional-properties.html

Why these buyers can’t wait to buy condo in ‘Manhattan North’
https://www.thestar.com/life/homes/2017/06/03/vaughan-city-centre-gets-a-downtown-vibe.html

And the RE shilling continues.

#120 Tony on 06.03.17 at 2:44 pm

Re: #4 Waiverless on 06.02.17 at 6:43 pm

More like total lies from the CRA. Condos are up like one percent in price this year and detached home prices have been falling since March 2016.

#121 The Wet Coast on 06.03.17 at 2:53 pm

100% of social scientists agree man made climate change is real.

#122 conan on 06.03.17 at 2:56 pm

#118 Leo Trollstoy on 06.03.17 at 1:46 pm

There are, what, 195 countries in this agreement? To understand it better, simplify the concept.

You are leading 195 people through the wilderness, and someone sprains their ankle, or goes crazy. You would reduce that persons load, and share it among the others. You need to get everyone home.

This is countries working together in common cause. It is not going to be a cookie cutter solution. Everything is going to be fluid.

https://youtu.be/dsx2vdn7gpY?t=13

#123 Chico on 06.03.17 at 3:40 pm

#117 Figure it out on 06.03.17 at 1:21 pm

#58 Chico — “If you are more knowledgeable than me, watch the 30 minute video from 2015 and tell me where he’s wrong.”

No way I’m wasting 30 minutes of my life in an attempt to debunk a non-consensus view on a hard-science topic.

In some fields, such as investing or economics, it may be worthwhile to examine non-consensus views, because the mainstream thinkers in those fields don’t seem to be able to predict or explain diddly, though they try mightily.

Not so the hard sciences. I can think of plenty of cases where an iconoclast with a new idea was at first rejected, only to have his view become mainstream as more evidence was gathered. But I can’t think of any cases where someone argued that an older, superseded theory was actually correct (in this case, that we can pump billions of tonnnes of carbon dioxide into the atmosphere with no ill effects), and science eventually backtracked on its new, consensus theory in favour of the older one.

Cui bono?

You seem to be doing a lot of posturing by using terms like “hard science” and “I can think of plenty of cases.”

You’ve done nothing to define the terms “hard sciences” or “cases.” In political terms, this is merely glossing over an issue without ever answering the question.

You aren’t a final authority on science, so making all knowing declarations like “I can’t think of any cases” only makes you sound insecure.

#124 Climate Change on 06.03.17 at 3:44 pm

#58 Chico on 06.02.17 at 9:59 pm
#70 n1tro on 06.02.17 at 11:41 pm
#92 Chico on 06.03.17 at 7:49 am
#117 Figure it out on 06.03.17 at 1:21 pm

If you don’t have the time or inclination to read scientific articles on climatology, consider spending some time reading articles in Insurance Journal or National Geographic. Actuaries and Solomon Islands inhabitants are on the front lines of climate change. I’m assuming of course that you’re actually interested in learning (not denying) science.

#125 Anne on 06.03.17 at 3:48 pm

An article in the G & M 2 days ago talked about a Real Estate agent in Toronto selling a small 2 bedroom bungalow in Birch Cliff area of Scarborough for $207,000 over asking at $1,106,000 this past week and they had 3 other offers. Even though I can see it for myself here http://v3.torontomls.net/Live/Pages/Public/Link.aspxKey=2274db2fa4a04ac8ae5d387792f9a9d9&App=TREB
I still don’t believe it. Unless the buyer just came out of a coma, how is this even possible. Anyone? I feel like I’m in the twilight zone.

Your comment is awaiting moderation.

#126 crowdedelevatorfartz on 06.03.17 at 3:49 pm

@#111 smoking Man
“Times are changing. Kathy Griffen is now gig less.
Activism from the right was non existent till Trump….”
******

Please. In two months it’ll be “old news”.

She’ll be back to work in less than a year especially if Trump is impeached for interfereing in an ongoing Federal Investigation or does something even stupidier( if that’s possible) than his first “100 days” of crass, isolationist idiocy…..and ,of course, its all the “fake news’s” fault.

and I repeat
As for Griffin’s crass, low brow, faux pas…..

Never underestimate the general publics lack of ability to concentrate on anything longer than a “tweet” or remember what they did last week….

#127 Ace Goodheart on 06.03.17 at 6:12 pm

#126 crowdedelevatorfartz on 06.03.17 at 3:49 pm:

“@#111 smoking Man
“Times are changing. Kathy Griffen is now gig less.
Activism from the right was non existent till Trump….”
******

Please. In two months it’ll be “old news”.

She’ll be back to work in less than a year especially if Trump is impeached for interfereing in an ongoing Federal Investigation or does something even stupidier( if that’s possible) than his first “100 days” of crass, isolationist idiocy…..and ,of course, its all the “fake news’s” fault.”

This Kathy Griffen situation is odd in so many ways it is almost worthy of some form of thesis. Firstly, who in the world is she? No one had heard of her before this, now she is world famous. Her career is over? I think it is just beginning. The lights of stardom are so bright she has mistaken them for an oncoming train.

Secondly, who poses with the severed head of a US president? Seriously, who does that? If she had done that to Obama she would have been arrested. With Trump it is OK? I mean yeah a lot of people don’t like him, but he’s still a person. There is a line…..

Things down south have gone from weird to nuts and might go further. I have little idea what is happening down there. Populism is an odd force and it expresses itself in incomprehensible ways.

#128 n1tro on 06.03.17 at 6:43 pm

@ClimateChange post#124

I’ve forgotten more science journals than you have read. Who is “denying” science here? True science is always questioning results and not blindly accepting things. If you want to do your part for climate change, sell your house and go live in the woods. Almost zero carbon footprint.

#129 A box in the sky on 06.03.17 at 6:48 pm

#75 NoName on 06.03.17 at 12:29 am
Few yrs back my cousin from london called me all excited that she got tickets for red hot chily pepers in some small club in berlin, she sad i m flying out tomorow or next week, camt re,ember, i am back in a few days, than that vulcano went off and all flight were grounded. and it got funnier… but what kicker was band was red hot chilli pipers, not peppers

Red Hot Chili Peppers
https://youtu.be/Q0oIoR9mLwc

Red Hot Chilli Pipers
https://youtu.be/QIvzPoA-Vq0

no word of a lie here,

————————-

Cool story bro

#130 Cici on 06.03.17 at 8:05 pm

Don’t get too overly confident yet….seems like such instances are going to get more frequent and more deadly–even in the West.

http://www.telegraph.co.uk/news/2017/06/03/london-bridge-incident-armed-police-respond-several-people-mown/

#131 A Reply to #128 n1tro on 06.03.17 at 8:51 pm

Touchy, aren’t you?

Newtonian physics (classical mechanics) haven’t changed much in over 300 years. It only breaks down when you approach the speed of light or the quantum scale. (In which case you need to work with relativistic mechanics, quantum mechanics, or quantum field theory.)

The point of course is that when a theory robustly and elegantly fits the facts, we don’t (or shouldn’t) have to continually test or rejustify the theory.

Darwinian evolution is well established among biologists and other scientists, but I imagine there are still skeptics among the general public. Perhaps you’re one of them.

#132 AGuyInVancouver on 06.03.17 at 9:06 pm

#6 Okanagan Man
The Vancouver market is only “hot” because single family homes have been priced out of reach for locals and are now the sole purview of Chinese buyers. They’ve left and those houses are sitting on the market. Since so much of Metro Vancouver is zoned for single family homes, that leaves a relatively small pool of housing options: condos and, even rarer, townhouses. That’s where the market action is.

Add in Christy Clarke’s assinine, ultimately futile, vote-pandering strategy of cheap loans for first time buyers and you have a recipe to heat up the bottom of the market. Like many BCers I voted NDP solely for the purpose of bringing the developer-driven BC Libs and their foreign buyer friendly policies down.

#133 n1tro on 06.03.17 at 10:57 pm

Not touchy. Just tired of people painting others as deniers when they dont like what they hear. Why does everything have to be an extreme? 100% belief in climate change or you are a Trump supporting denier.

If you are saying climate change theory is as solid and evidence filled as newtonian physics and darwinism (both of which have been around for hundreds of years), then please outline climate change for us which has been the flavor of the month for about 10 years now.

Destruction of various eco systems by man made activities is real. Lets put money into fixing these things instead of blindly taxing people and doing nothing.

#134 n1tro on 06.03.17 at 11:43 pm

If people want to see a good example of science denial, just have a look into Erin Brockovich. They made a movie about her played by Julia Roberts.

Back in the day, Erin sued PG&E (Cali utility co) on behalf of a small town accusing them of contaminating the water supply with hexavalent chromium. The science from various studies and journals showed no correlation between CR-6 and cancer yet the case was settled for over $300M, about $130M of it went to Erin herself.

How does this relate to anything today? Erin was a part of crusade against the nuclear power plant fiasco in Ontario. Costed tax payers over a billion dollars. Bottom line, blindly accepting things when they don’t exists costs money.

#135 Ronaldo on 06.04.17 at 12:06 am

#133 N1tro

Destruction of various eco systems by man made activities is real. Lets put money into fixing these things instead of blindly taxing people and doing nothing.
———————————————————-
Taxing people and doing nothing. Exactly.

#136 David on 06.04.17 at 2:41 am

I get how you give up part of your capital gains exemption piece if you rent out too much of your home, but if you’ve recently purchased and follow this blog you should anticipate you’ve bought at the peak and the market will fall or not increase anytime soon. Then capital gains are almost irrelevant in this case, unless Garth actually believes capital gains will be realized, contradicting 9 years of preaching the fall of real estate.

#137 A Reply to #133 n1tro on 06.04.17 at 6:15 am

“If you are saying climate change theory is as solid and evidence filled as newtonian physics and darwinism (both of which have been around for hundreds of years), then please outline climate change for us which has been the flavor of the month for about 10 years now.”

Do I understand you correctly? Are you under the impression that climate change science is a recent development? Let me disabuse you of that notion.

In 1824 the existence of the greenhouse effect was first postulated by Joseph Fourier (1768-1830). In 1827 and 1838 the theory and the evidence were further developed by Claude Pouillet (1790-1868) and in 1859 reasoned from experimental observations by John Tyndall (1820-1893), who measured the radiative properties of specific greenhouse gases. In 1896 the effect was more fully quantified by Svante Arrhenius (1859-1927), who made the first quantitative prediction of global warming.