Disorderly

Seven months ago nobody thought mortgage rates in Canada would ever go up, or house prices down. B20? That sounded like some wicked drink, opiod derivative or Bombardier product. And on March 3rd, when the local real estate board announced 32.5% year/year increase in real estate sale prices the story was obvious: way more demand than supply, as desperate buyers clamoured over every slanty piece of junk that got listed.

“The listing supply crunch we are experiencing in the GTA has undoubtedly led to the double-digit home price increases we are now experiencing on a sustained basis, both in the low-rise and high-rise market segments,” said realtor-analyst Jason Mercer. “Until we see a marked increase in the number of homes available for sale, expect very strong annual rates of price growth to continue.”

And continue it did. For two more months. Now we know interest rates can go up unexpectedly, politicians can be capricious and the B20 is a weapon of mass market destruction. Sales and prices are down, listings are up and the next six or 12 months are a complete mystery.

Well, not exactly. Not to blog dog Nick.

“I put this together for fun, based on TREB data to October and assumptions made for the remainder based on trends we’ve seen in the last 6 months,” he explained, when he sent the chart below.

“Key points: new listings will drop in the winter, however active listings will remain high as sales/removals from the market are not large. Due to a higher winter active listing number, starting point for the spring market in terms of total listings will be extremely high compared to last winter. Uptick in new listings in the spring as usual, followed by some increase in sales. As new listings occur at a medium-high pace over the spring/summer, sales won’t keep up, total active listings will build to new highs not seen in 2017. YOY sales numbers won’t be terrible, but months of inventory will be ugly, which would indicate a strong buyers’ market, and would generally be followed by declining prices in a normal market.

“Add in B-20, rising rates, worsening sentiment, and YOY declines in prices to be reported in Jan-Mar, 2018 is shaping up to be ugly for real estate IMO.”

Here it is. Makes you happy you sold four months ago, right?

So how bad could this get? Well, going into last autumn (October) there were but 10,563 properties listed on MLS for the entire region of six million house-lusty souls. That plunged to just 7,800 in March, when the buying frenzy hit its zenith. By April new listings were flooding in as buyers retreated, and today there are 18,859 properties to choose from – a 78.5% explosion over this time a year ago. Meanwhile sales for the first 10 months of the year reached 80,198, or more than 19% below the same period in 2016. And, yes, we already know detached house prices are lower by 15-20% depending on the region.

By the way, it’s not just the Big Smoke. All of southern Ontario is shrinking faster than a dude in a lake. For example, the median price in Hamilton, where valuations were berserk in the first months of the year, is now 15.4% lower. Same pattern as Toronto and Vancouver – detached house sales down (12%) and condo deals up (23%), as the move-up market vanishes.

Speaking of Hamilton, where men are still men even when they’re realtors, the industry’s head guy is being blunt about the impact in a few weeks of B20, the universal mortgage stress test. For buyers: “It is going to put some people out of the market, they’re just not going to be able to afford to quality at that higher rate.” For sellers: “It may take longer or they have to be more aggressive on their pricing.”

We also know this: the Fed will be raising its key rate again in December, bringing to four the number of increases in 12 months. That won’t be the end. With US corporate profits making double-digit gains, the jobs machine churning out new positions and some form of Trump corporate tax cut a near-certainty, there is more growth, inflation and rate action to come. Without any doubt, our guy Poloz will be following suit. Long-term mortgages now at 3.25% will creep closer to 4% in 2018. With the stress test, remember, borrowers must qualify at the central bank benchmark (4.89%) or the market rate +2% (now 5.25%), whichever is greater.

So, we’re going into the next spring market with 80% more inventory, less buyer momentum, rising mortgage rates and a stress test nobody can escape. That suggests prices are still too high. Let the melt begin.

149 comments ↓

#1 Eyestrain on 11.06.17 at 5:28 pm

I am not sure I can provide much of a summary today, but it will have to wait. Yesterday’s posts bent the needle on my cra cra meter. My greatest fear is that all the computer scientists on here explaining Bitcoin mining will join forces and break this site’s veil of e-mail anonymity.
I am worried that some of the whack jobs posting here might get a day pass from the asylum. I’m going to the basement for awhile to count my money. I have to wait till sunrise in England so I can call Queen Elizabeth. I heard she is looking for a new financial advisor. Does anybody know if or how the time change affects Britain? Thanks in advance.

#2 the RE product itself is lame on 11.06.17 at 5:38 pm

From a pure technical standpoint, the product of RE offerings in Canada is at best second rate.

Anyone who has ever experienced the comfort of living in a condo with heated floors will never be able to accept baseboard (yikes) or forced air (yuck) heating.

This is Canada for cryin’ out loud. Winter is the normal here. Why is there no better building code and heating standard available?

Builders, developers and other 2nd rate house makers, you can keep your boxes with staples and beaver barf boards to yourself.
It only serves one purpose anyway. Make a quick buck and get out of Dodge.

Seriously, Canada is among the last places to buy a house or condo other than riding the RE wave for a quick turnaround. RE in Canada is neither planned nor built for a long term asset strategy. Too bad so many thousands if not millions are sitting depressed with huge debt levels on a depreciating “asset”.

You have only yourselves to blame if you haven’t cashed out by now.

#3 Smartalox on 11.06.17 at 5:39 pm

I see that most of the greater Vancouver sales posted by FLOPPER are going for prices that are as much as 10% below recent BC Assessments. I have a feeling that if the trend continues (and if bankers start sharpening their assessments accordingly), those looking at housing as a means of ‘storing’ wealth might start flooding the market with listings in the new year.

I guess that it’s time to take out the ‘laundry’!

#4 re., Eyestrain on 11.06.17 at 5:41 pm

How did you manage two paragraphs of nonsense? Usually its just one

#5 Plot Twist on 11.06.17 at 5:46 pm

Plot twist: Happy housing Crash everyone! and Freedom First meet, fall in love with and marry REALTORS(c).

Smoking Man writes a RomCom out of it, wins an Academy Award.

Shows up sober, but still manages to give a confusing acceptance speech which he had intended for his other ‘AA’ meeting.

#6 Prophecy on 11.06.17 at 5:46 pm

DELETED

#7 tulips on 11.06.17 at 5:46 pm

“That suggests prices are still too high”

Anyone want to make a case for the last time prices were not too high in the Toronto or Lower Mainland markets? I would assume it’s somewhere before the last time it doubled, or the time before that (which all happened in the past 12-15 years for the lower mainland). The only problem is, at that time the bears including myself were already out in full force proclaiming that house prices had exceeded fundamentals and were due to correct. That’s my issue with todays post – it feels like the latest variation on the same old story, and I’m not feeling like it’s going to come true. We just found a livable half decent place we can pretty much afford. Seriously considering putting in an offer this week.

#8 Where's The Money Guido? on 11.06.17 at 5:53 pm

http://vancouversun.com/news/local-news/report-calls-vancouver-most-unaffordable-real-estate-market-in-north-america

#9 akashic record on 11.06.17 at 5:56 pm

Bitcoin

So many people spend lots of time with great passion about something they never owned and supposedly never want to own.

#10 Triplenet on 11.06.17 at 5:58 pm

How prescient. I was just there for white board markers for the sticky people.
I didn’t test them though. I couldnt get the package open!

#11 Dan.t on 11.06.17 at 6:00 pm

Believe it when I see it. I want to see blood on the street in the lower mainland, YVR and GTA. Until then, prices are still just stupid Canada prices.

Everyone here commenting and scared of Bitcoin and yet a simple crap 1 bedroom condo in Langley BC costs 400k, plus strata, plus tax, plus BC best place in world premium tax, plus, super smart investor insurance tax, plus, tell your friends you own RE tax, …..etc.

Good thing Canadians are super rich. 12k Bitcoin CAD is nothing to the real estate gurus in BC. They should pick up 10 or 20 BTC and chill. It’s pocket change.

Oh right, that is stupid but real estate you can tell your friends about because they all own a condo, plus one or two extra “investment” condos being rented out without paying CRA…. but don’t worry CRA will go after those digital crypto crooks hard.

I may be wrong but it seems to me the moral of the story is to , lie, cheat and do what our elected leaders do(old BC liberals and new Can Liberal) and you will be fine. Go against the grain, you are a loon.

#12 "blood in the streets" on 11.06.17 at 6:11 pm

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#13 I’m stupid on 11.06.17 at 6:22 pm

Bitcoin will fail. It’s a certainty, the technology behind it will survive. Many people are being fooled into believing that buying bitcoin means buying blockchain. That’s the same as saying that my post is a literary masterpiece because it uses English.

The fundamental flaw with bitcoin is that it can’t inflate. Inflation is a necessary evil and I’ll explain why.

If you create something it will not last forever. Therefore the income it produced should deteriorate as well. The system creates inflation overtime to balance production and destruction over time. An easy example is having your hair cut. You pay the barber $25 to cost your hair in 2 weeks it grows back and you repeat the process. A building lasts 50 years or more before it’s demolished and a new one is built. The labour involved in both cases deteriorate in value at different times so inflation is a measure of average labour deterioration over time.

Looking at it in a different way; a loaf of bread cost 1cent 100 years ago and today it costs $4. It’s easy to say you’ve lost purchasing power because of inflation. Just remember the 100 year old loaf nor the labour to create it exists either.

If we moved back to the gold standard or all used bitcoins we’d see production seize because it doesn’t address the deteriating nature of all goods.

#14 Victor V on 11.06.17 at 6:24 pm

Here’s how Canadians could walk away from their homes if house prices fall — Opinion: When the U.S. housing market crashed many Americans simply abandoned their mortgages. Think that couldn’t happen here? Guess again.

http://www.macleans.ca/economy/realestateeconomy/heres-how-canadians-could-walk-away-from-their-homes-if-house-prices-fall/

#15 Smoking Man on 11.06.17 at 6:24 pm

I think your assessment is bang on today mr Gartho.
Fx new bees you see the second brick down yesterday, it’s like taken candy from infants.

#16 Herb on 11.06.17 at 6:25 pm

#2 the RE product itself is lame,

“Why is there no better building code and heating standard available?”

Because the construction industry “consults” in the development of building and heating standards.

As we know, greed is good, and cheaper is better.

#17 Stone on 11.06.17 at 6:33 pm

Happy to sit on the sidelines and watch the real estate fiasco unravel itself. I do find it funny how everyone has now switched from touting the virtues of owning real estate to now touting the virtues of owning Bitcoin. Plus ca change, plus ca reste pareil. Tres chic!

As boring as it is, I will stick to my balanced and diversified ETF portfolio. Latest lovely dividend is in today and YTD return now stands at 8.71%. Less than $10,000 to go before hitting the million dollar value for my portfolio. Boring is so exciting and fun!

#18 paracho on 11.06.17 at 6:35 pm

There is no end in sight with this irrational bubble . Many will get burnt one way or another . Those who can not sell , will pay interest inequity which is non existent .
Those forced to sell will sell at a loss . It was irrational buying , now it’s irrational selling !
The million plus new immigrants being boasted about over CBC.CA will not help . Most are coming with empty pockets . They could only help some of the speculators cover some of the costs via rents . Thing is the over supply in the GTA. It will be a renters and buyers market . My thesis unless some can prove me wrong viavariables like lower unsustainable wages , higher interest rates , B20 plus the market just getting tired !

#19 Oakville Sucks! on 11.06.17 at 6:37 pm

Lawyers,

The Federal Court of Appeals was suppose to release its decision on TREB anticompetitive appeal/data last Friday. It was postponed last minute… any theories as to why? Did TREB lose????

Can’t wait for decision!

#20 Holey Moley on 11.06.17 at 6:38 pm

Hey Smartalox,

Are you still holding TSE:WEED or did you sell already?
+14.41% today.

Holey Moley!

I was always skeptical about technical analysis.
But next time you call a buy I will look at fundamentals and join in if they’re good.

#21 Linda on 11.06.17 at 6:41 pm

GTA population +/- 6 million. Properties for sale 18,859. Given those numbers even though prices may be ‘off’ the frothy highs a few months ago & should continue to decline for a while as the effects of B20 etc. hit the market I’d say that most RE owners looking to sell will still be able to get a hefty chunk of change from any buyers that come along. Maybe not the rip snorting over the top change that was prevalent only a few months ago, but better than pocket money none the less. Seriously, if you bought at say $500,000 a few years back & end up selling for ‘only’ $750,000 – $1,000,000 today you have still made out like a bandit.

#22 Herb on 11.06.17 at 6:42 pm

Seems like everyone able to avoids taxes –

The latest estimates show that world governments are losing $500bn a year in taxes due to tax avoidance by large companies. A further $200bn a year is estimated to be lost due to the undeclared offshore wealth of tax evading individuals.

http://www.taxjustice.net/2017/11/05/press-release-tjn-responds-paradisepapers/

#23 50 YEARS OF MAPLE LEAF INCOMPETENCE! on 11.06.17 at 6:44 pm

Hahaha – Toronto SUCKS!!!!

After yet another false start, the hockey reality is hitting home, just like the real estate bubble that is deflating.

https://www.thestar.com/sports/breakaway_blog/2017/11/06/leafs-share-nhl-s-worst-record-over-last-eight-games.html

Leaf fans are like Toronto slanty-semi buyers – delusional idiots!!

The city is slowly becoming more impoverished, with more of a terrible divide between the classes.

Unlivable traffic all over the place, transit and construction chaos.

So many much more enjoyable places across Canada, with even better economies.

Want to know what Toronto will be like in ten years?

Take a look at Peel region today. Toronto is the next Brampton.

(And in ten years, the Leafs still will not have won anything!)

Get out while you can,, fools!

#24 joni on 11.06.17 at 6:44 pm

Wow, nothing on the Paradise Papers…

#25 jess on 11.06.17 at 6:44 pm

think about what this means for voting -electronic machine being used to accept or count votes.

Estonia ‘s – digital identity card issued by the Republic of Estonia.
The Estonian ID cards are used in health care, electronic banking, signing contracts, public transit, encrypting email and voting. Estonia offers over 600 e-services to citizens and 2400 to business.[8] The card’s chip stores digitised data about the authorised user, most importantly: the user’s full name, gender, national identification number, and cryptographic keys and public key certificates.

February 2007, Estonia was the first country in the world to institute electronic voting for parliamentary elections. Over 30 000 voters participated in the country’s e-election.[12] In the Parliamentary election of 2011 140,846 votes were cast electronically representing 24% of total votes.[13]

“A crippling flaw affecting millions—and possibly hundreds of millions—of encryption keys used in some of the highest-stakes security settings is considerably easier to exploit than originally reported, cryptographers declared over the weekend. The assessment came as Estonia abruptly canceled 760,000 national ID cards used for voting, filing taxes, and encrypting sensitive documents.”…

https://arstechnica.com/information-technology/2017/11/flaw-crippling-millions-of-crypto-keys-is-worse-than-first-disclosed/

#26 Stone on 11.06.17 at 6:53 pm

I’ll also add the following: I think a certain Ryan Lewenza will be doing a little happy dance in the not to distant future in regards to his $60/barrel of oil prediction. We may soon have to call him The Oracle of Turner Investments. Is there enough room on his business card for that? ;-)

#27 Chaddywack on 11.06.17 at 6:59 pm

Speaking of Vancouver listings. This one has been listed since the summer at least. Originally at $3M now slightly lower, but the sellers are refusing to budge lower.

I couldn’t figure out how they came up with this valuation. Its bloated assessment is $1.8M comps have been selling at $1.2M.

I pointed out this one on here before and a blog dog came up with the fact that they were offering snacks at the open house. Well about 10 open houses later it looks like the snacks are no longer on the table :)

Still, shows vancouver sellers will be stubborn for awhile!

#28 Lead Paint on 11.06.17 at 7:00 pm

Interesting posts by #2, #9 and #11. “the RE product itself is lame” I totally agree that builders are building homes that look like a nice home to live in, but are like a Hollywood set where it’s mainly pleasing veneer. The main driver is to flip to a greater fool.

And comparing housing to bitcoin is interesting, the ‘house’ itself has a deprecating value but the land will increase in value. Bitcoin and other cryptocurrencies are the new gold. No one buys them to use them as a currency but as a hedge, something that will maintain or grow in value.

Unlike a home you can invest in Bitcoin gradually and sell it for $ when you want. As companies, governments and individuals increase their debt-loads, the value of cryptocurrenies will only go up, with massive fluctuations and corrections over the course of time. I buy a few $ a week, not enough to kill me if the whole thing crashes, but enough to be meaningful over time.

#29 Danny on 11.06.17 at 7:02 pm

Etobicoke – Islington Ave and Dundas Street West
All 4 Condos for sale for over 100 days…….not selling in two high rise Buildings. ….nothing sold in these buildings for over 100 days
Usually sell in 2 weeks…..mainly seniors buying after selling their single family ranch type houses nearby.
Price for 2 units slightly down from their insane highest price every…..10 % down….7 days ago
One more unit just added…….now 5 over priced condos for sale ….highest asking prices every…30 % over last year listings.

Sellers obviously in no rush to sell.

#30 Triplenet on 11.06.17 at 7:03 pm

#2 re product
A quality 1800 sq.ft. rancher/bungalow should cost approximately $350 per sq.ft. inclusive of garage, sidewalks, fencing, landscaping and a wee garden shed. You get a slate or equivalent roof finish, heat pump, air exchanger and NO glue.
……if thats too expensive – pick your finish quality.

#31 Arse on 11.06.17 at 7:10 pm

I think the party will continue for another decade.

#32 jess on 11.06.17 at 7:19 pm

Companies are using ‘ghost revenue’ to calculate executive bonuses

Published: Nov 6, 2017 3:58 p.m. ET
ByFrancine McKenna

“Revenue adjustments do more than just adjust from GAAP: they change the very starting point from which other performance analyses flow.”
Wesley Bricker, deputy chief accountant, SEC ”

https://www.marketwatch.com/story/companies-are-using-ghost-revenue-to-calculate-executive-bonuses-2017-11-06

#33 FOUR FINGERS WATSON on 11.06.17 at 7:25 pm

#17 Stone on 11.06.17 at 6:33 pm
Happy to sit on the sidelines and watch the real estate fiasco unravel itself. I do find it funny how everyone has now switched from touting the virtues of owning real estate to now touting the virtues of owning Bitcoin. Plus ca change, plus ca reste pareil. Tres chic!

As boring as it is, I will stick to my balanced and diversified ETF portfolio. Latest lovely dividend is in today and YTD return now stands at 8.71%. Less than $10,000 to go before hitting the million dollar value for my portfolio. Boring is so exciting and fun!
…………………………..

You should change your name to Stoned. Is that BC Skunk Bud #3 that yer smokin’ ?

#34 macro-man on 11.06.17 at 7:31 pm

The Fed won’t raise rates in December. There is no incentive for Janet Yellen to take any risk when she’s about to retire.

Bigger risk in not raising. — Garth

#35 Ace Goodheart on 11.06.17 at 7:41 pm

RE: Bitcoinaire postings:

This is one time when I am going to have to agree with the Geek Squad.

A $200.00 US investment in Bitcoin, in 2010, would be worth as of today’s date….

$17,652,500 US dollars.

That outperforms Google, Amazon and Tesla put together.

The Geeks have the price folks.

#36 Ace Goodheart on 11.06.17 at 7:42 pm

Sorry, Geeks have the prize. Stupid auto-correct

#37 Boombust on 11.06.17 at 7:45 pm

Garth,

Things have definitely slowed for SFDs here in Metro Vancouver. Even the CoV is getting whacked, as median prices are down quite markedly and probably most importantly, overall dollar transaction volumes are taking a beating.

The only sign of “strength” in the current market is with condos and most “insiders” agree that activity in that particular segment is due mostly to locals flipping their brains out. It will soon be hitting a wall, though.

One site worth tracking on a daily basis is “My Realty Check.ca” as it shows consistent property price drops throughout the region (usually 3 to 1 on the downside).

Toodles!

#38 The dumb dumbs on 11.06.17 at 7:48 pm

People are still stupid, some dummies continue to buy homes for crazy prices in the GTA. . .

#39 Stone on 11.06.17 at 7:50 pm

Just thinking about Bitcoin and fiat currencies. Let’s say fiat currencies disappear and only cryptocurrencies remain. So, there’s only so much Bitcoin out there as Bitcoin mining involves using computer processing space and high electricity costs.

My big question is…how is that an effective means of pricing a good or service when the cryptocurrency isn’t stable and fluctuates drastically. At one moment, a loaf of bread cost 1 Bitcoin. 5 minutes later, it costs 3 Bitcoin. The next, half a bitcoin. Any business would be bankrupt within days if not hours. What about employees paid in Bitcoin? Work 2 weeks and get paid in Bitcoin only to find out you can’t even buy a loaf of bread with your 2 weeks of earnings. OMG! I’d rather work for food and shelter.

This is definitely a speculative play only. The more I try to understand it’s usefulness, the more I think that it’s absolute nonsense. How long before we see this all collapse?

How many dummies does it take to buy Bitcoin? Many, apparently.

Hope if you bought, you are not the last one out. It’s gonna hurt real bad for a lot of dummies.

I have a feeling someone is laughing real hard somewhere in the cryptocurrency ether.

Lastly, I think Canadian Tire money has more credibility.

#40 joni on 11.06.17 at 7:51 pm

This blog is always talking about how people should minimize their taxes as the world governments are a parasite, I suppose some very rich people really took it to the extreme.

#41 Stone on 11.06.17 at 7:55 pm

#33 FOUR FINGERS WATSON on 11.06.17 at 7:25 pm
#17 Stone on 11.06.17 at 6:33 pm
Happy to sit on the sidelines and watch the real estate fiasco unravel itself. I do find it funny how everyone has now switched from touting the virtues of owning real estate to now touting the virtues of owning Bitcoin. Plus ca change, plus ca reste pareil. Tres chic!

As boring as it is, I will stick to my balanced and diversified ETF portfolio. Latest lovely dividend is in today and YTD return now stands at 8.71%. Less than $10,000 to go before hitting the million dollar value for my portfolio. Boring is so exciting and fun!
…………………………..

You should change your name to Stoned. Is that BC Skunk Bud #3 that yer smokin’ ?

——

Now, now. Jealousy and envy is not becoming. Silly rabbit.

#42 Re., 33 on 11.06.17 at 7:59 pm

Hahaha !

He’s a cartoon character . He literally follows his portfolio daily , proudly …and feels the need to update anonymous readers

I tell ya , this place can mimic a mental ward

#43 Smoking Man on 11.06.17 at 7:59 pm

Rates are going up in USA and Canada 100% when am I ever wrong? They are based on labour pool numbers not what every one is feed by msm. Inflation.

They don’t give two craps about the cost of things. It’s the cost of people that matters to central banks. SHRINKING LABOUR POOL rates go up. Lots of layoffs rates go down.

It’s been that way for ever.

Bet accordingly. I’m still calling Amazion HQ2 to be in Canada inspite of New Jersey offering up 7 billion. A just reward to the poster boy of Globalim and the celebration of turning boys into girls.

#44 For those about to flop... on 11.06.17 at 8:02 pm

Since this article mentions City Slickers, I’m sure Billy Crystal will check it out…

M43BC

“The Highest and Lowest Incomes for America’s City Slickers.

All throughout history, people have gone to cities to take advantage of the wealth and business. We wanted to know which metropolitan areas offered the best opportunities for Americans, so we looked at data for all 382 metros.

Want to know where to make the most money? Check out this map!”

https://howmuch.net/articles/gdp-metro-2017

#45 gfpaperz on 11.06.17 at 8:05 pm

Garth

First there was the Panama Papers, then the Paradise papers….when will we see the Greater fool papers?

#46 Ace Goodheart on 11.06.17 at 8:06 pm

Oh and if all you lot figures that the time to make serious money in Bitcoin is past…….once again you are wrong.

Something very interesting is about to happen to Bitcoin on November 16th, 2017.

Get the bet right, and you might have a second chance at becoming a Bitcoinaire….

#47 Smoking Man on 11.06.17 at 8:08 pm

Very simple way to do big off shore shit and get away with it. It’s just when you cash it in you got to be out of here for a year.

Nothing in your name and I mean nothing. Instructions using serious proxy server incrypition.. Only in the locals islanders names. Come on CRA make this proud bragging bull shitter famous. It’s obvious your going after the small patatos in the paradise papers. Sun Tuz never under estimate the enemy you think you see.

#48 Smoking Man on 11.06.17 at 8:12 pm

Next book, tax evading Billionaire living in sons one bedroom apartment because he don’t kiss ass to thieving liberal commies.

Leaving for good soon once the hurricane damage is fixed.

#49 young & foolish on 11.06.17 at 8:14 pm

“Inflation is a necessary evil and I’ll explain why.”

Can you attempt another explanation? Like, if currency does not depreciate over time, what then is the motivation to put it into play? And then, if the currency available is finite, then how do you prevent it from coalescing in the hands of the few?

#50 Smoking Man on 11.06.17 at 8:17 pm

CRA Disclaimer. I’m a fiction writer. I’m living here in a one bedroom apt because i pissed away all my loot in casinos. Well documented on player card data sheets.
Hounest.

#51 Stone on 11.06.17 at 8:18 pm

#42 Re., 33 on 11.06.17 at 7:59 pm
Hahaha !

He’s a cartoon character . He literally follows his portfolio daily , proudly …and feels the need to update anonymous readers

I tell ya , this place can mimic a mental ward

——

And how much of your useless existance did you spend thinking about me and writing your response above? And everyone else you used your re handle? That’s time you’ll never recover. Hahaha ! I, on the other hand, am having a blast.

#52 Kurt on 11.06.17 at 8:20 pm

#13 I’m stupid – Oh, so close! The problem is that if the currency doesn’t inflate, it becomes a superior store of value compared to productive assets – which, as you noted, depreciate. If people keep all of their savings in the currency, the assets aren’t replaced and the whole economy collapses. This is why deflation scares the crap out of central bankers. Anyway, you’ve put your finger on the difference between commodities like bitcoin or gold and real, honest-to-god fiat money. Well done! Without fiat currency and inflation, our modern economy literally could not exist. (Now, the kind of abuse our governments dole out to those two precious but abstract entities is another story – we can definitely do without that!)

#53 FOUR FINGERS WATSON on 11.06.17 at 8:23 pm

#43 Smoking Man on 11.06.17 at 7:59 pm
Rates are going up in USA and Canada 100% when am I ever wrong? They are based on labour pool numbers not what every one is feed by msm. Inflation.

They don’t give two craps about the cost of things. It’s the cost of people that matters to central banks. SHRINKING LABOUR POOL rates go up. Lots of layoffs rates go down.

It’s been that way for ever.

Bet accordingly. I’m still calling Amazion HQ2 to be in Canada inspite of New Jersey offering up 7 billion. A just reward to the poster boy of Globalim and the celebration of turning boys into girls.
………………………

I have decided to start my own crypto currency. Gonna call it Buttcoin. Can you help with the Forex ?

#54 Tony on 11.06.17 at 8:29 pm

Re: #13 I’m stupid on 11.06.17 at 6:22 pm

As the price of Bitcoin continues to rise the big price gains will be in the less well known coins like Litecoin. The Cryptocurrencies have a long, long way to run because there’s virtually no where to put money today. Almost everything else (except commodities and gold and silver) is priced in the stratosphere decades in the future already. Everyone is looking for the next alternate investment.

#55 Smoking Man on 11.06.17 at 8:33 pm

DELETED

#56 Nick on 11.06.17 at 8:36 pm

Wow I am honoured my Saturday morning musings made it on here! Glad you liked it.

#57 Lost....but not leased on 11.06.17 at 8:37 pm

All is good…

Rumours are that T2, Moroneau and Bronfman will invest billions CAD currently in Civil Servant Defined Benefit pensions which subsequently will be converted to BitCon….err Bitcoin…with the assistance of Elon Musk.

Unicorns and rainbows baby!!!

#58 young & foolish on 11.06.17 at 8:38 pm

OK, so what should an average family house cost? If we agree that a house is a desirable necessity (you got to live somewhere), and houses in desirable locations (close to easy transportation, amenities, and good employment opportunities), are coveted by many people, then it should follow that those with more money will crowd out the average. Obvious … no?

Does that help ???

#59 Eyestrain on 11.06.17 at 8:41 pm

#4 re., Eyestrain
How did you manage two paragraphs of nonsense? Usually its just one
________________

Apologies … I just didn’t have enough time to write less. You’ve demonstrated your facility with sums; were you able to read all of yesterday’s posts? If yes then go here —> https://www.standard.co.uk/news/satire-its-wasted-on-the-stupid-6300482.html

#60 molson cdn on 11.06.17 at 8:46 pm

this site is full of animosity and envy directed at those vancouverites and 4 one 6ers who have home ownership in those great cities.
where can you get a good cup of coffee at 10 pm? lets see….arnprior. sure how about sault ste marie. give me a break. once you leave toronto all you get are shit holes that are boring, cheap and depressing.
i’ll take walking around high park in toronto over any city in ontario any day, every day.
investing in toronto has paid off by huge gains and will continue to do so. one home in toronto is equivalent to 20 homes in the fresh air city of sudbury.
get in early and wake up and smoke a joint.

#61 EmmEmm on 11.06.17 at 8:46 pm

RE: #43 Smoking Man on 11.06.17 at 7:59 pm

how funny that you think the biggies give a damn about Canada. Trump will never let Amazon set up the HQ in Canada. and from logistics standpoint, NJ is one of the best locations for Amazon HQ.

Canada will soon follow Mexico and become a place of NO technological advances but only meant for getting cheap labor

#62 young & foolish on 11.06.17 at 8:50 pm

” …. make serious money in Bitcoin …”

Interesting, since Bitcoin is touted as an alternative to fiat currency (not manipulated by Federal authorities) … how ironic then that we should expect to “make money” by trading it back for depreciating dollars. I don’t know if Bitcoin will matter in the long run, but blockchain technologies might (until the hackers figure out ways to crack it).

Caveat emptor

#63 I’m stupid on 11.06.17 at 8:52 pm

I could go on forever trying to explain inflation. It’s one of the most difficult things to try and explain. I really don’t want to continue on the topic. If you believe in bitcoin or zitcoin or shitcoin buy it. It won’t make any difference to me. In the 70s someone sold pet rocks. I think those have more value than bitcoin. But what do I know, I’m stupid!

#64 Qazmer on 11.06.17 at 8:57 pm

“With the stress test, remember, borrowers must qualify at the central bank benchmark (4.89%)”

Didn’t they raise they Conventional mortgage – 5-year to 4.99%?

Strange that no one noticed

#65 Regretful Renter on 11.06.17 at 8:57 pm

Anyone feel like this blog has been chasing it’s tail for 10 years?

Anyone who owns a home or condo has done so exceptionally well since this blog has started. I don’t see B20 making more than a little dent (and my guess is as good as anyone else’s). It sure looks like it really was different this time.

The investing advice is spot-on though…so thank you for all your hard work Garth.

#66 LivinLarge on 11.06.17 at 8:59 pm

“Bigger risk in not raising. — Garth” maybe, maybe even likely but when have you ever known a any government to act proactively on something that isn’t first in their best interest??? Never maybe? Avoiding a future risk that is possibly greater than doing nothing????? Wait and see is the government mantra.

#67 Ronaldo on 11.06.17 at 9:01 pm

#42 Re., 33 on 11.06.17 at 7:59 pm

Hahaha !

He’s a cartoon character . He literally follows his portfolio daily , proudly …and feels the need to update anonymous readers

I tell ya , this place can mimic a mental ward
—————————————————————
I needed a good laugh. I suspect many feel as you do. lol

#68 Smoking Man on 11.06.17 at 9:06 pm

#61 EmmEmm on 11.06.17 at 8:46 pm
RE: #43 Smoking Man on 11.06.17 at 7:59 pm

how funny that you think the biggies give a damn about Canada. Trump will never let Amazon set up the HQ in Canada. and from logistics standpoint, NJ is one of the best locations for Amazon HQ.

Canada will soon follow Mexico and become a place of NO technological advances but only meant for getting cheap labor

Watch and learn grasshopper.
I’m not a billionaire living in my kids one bedroom apartment for nothing.

#69 Smoking Man on 11.06.17 at 9:11 pm

Roger waters you hated aba so did I cause you told me to.

I love them now.

Screw you.

https://youtu.be/-crgQGdpZR0

#70 akashic record on 11.06.17 at 9:13 pm

So many in pain of jealousy and loosing their religion in the last couple of days.

If missing out on the real estate lottery wasn’t enough, now Bitcoin.

And not even a frikin’ legal off-shore account…

#71 Stone on 11.06.17 at 9:16 pm

#59 Eyestrain on 11.06.17 at 8:41 pm
#4 re., Eyestrain
How did you manage two paragraphs of nonsense? Usually its just one
________________

Apologies … I just didn’t have enough time to write less. You’ve demonstrated your facility with sums; were you able to read all of yesterday’s posts? If yes then go here —> https://www.standard.co.uk/news/satire-its-wasted-on-the-stupid-6300482.html

——

Amen!

#72 Tbone on 11.06.17 at 9:28 pm

#2
Many benefits of forced air heating , over the old fashioned hydronic heating.
Forced air will allow you to heat the space along with filtering the air .
Adding a humidifier will add moisture in the winter months.
It also provide central air conditioning to cool the air along with reducing the humidity in the summertime. You can also add an hrv to bring fresh air into the central system to circulate it throughout the entire structure.
You can also zoning systems to further add to the comfort of having a forced air system.
You get none of these benefits from a heated floor .

#73 Al on 11.06.17 at 9:30 pm

No melt garthosaurus.

It’ll all be fine. Sub died growth sure…and maybe a mild correction during the next recession but long term it’s all good.

Just like stocks..long term all good.

#74 Lost....but not leased on 11.06.17 at 9:32 pm

#64 Regretful Renter.

No, I don’t feel this blog is into a decade of tail chasing.

There is an old adage to the effect the given market can stay irrational longer than an individual can maintain fiscal sobriety.

As inmates run the RE asylum…IMHO the individuals should review history, hype and economic bubbles and their own particular launch pad…. ie some parties can sustain a market crash….while others can’t…but perhaps the key is the median of how many are in the middle ?

A crash… per se…may have been delayed… but I think many realize that “the powers that be” do NOT want a crash, but are concurrently realizing a “correction” is inevitable, they are simply desperate to avoid any culpability.

If the given individual doesn’t have to buy..or sell..don’t. In the interim..let the RE chips fall where they may.

#75 Nuke on 11.06.17 at 10:01 pm

Back in 2009 I wrote a paper on the attributes digital currency, specifically to replace fiat currency in India and Africa. Bitcoin just came out and my concern was that it would not be a stable medium of exchange but likely a store of value. When I blogged about it the price was 1540 Bitcoins to $1US. Now it is 1 BitCoin to $7,200US.

#76 akashic record on 11.06.17 at 10:08 pm

Your portfolio is not truly diversified without some high risk, low cost bets. BTC around $200-$300 was a promising candidate.

Only yourself can and should handle though this part of your portfolio.

It is not the job or responsibility of your advisor in charge of your diversified investment portfolio.

For anything high risk you are the one and only who calls the shot.

You have to have the stomach for it, you can’t use someone else’s.

Both for the gut feeling guidance and for the kick if you were wrong (or right).

For anything out of ordinary you look from within not search for outside when you make the decision.

#77 Dr. on 11.06.17 at 10:19 pm

Is jingle mail possible in Canada ?
Based on this article it is very possible.

https://www.msn.com/en-ca/money/topstories/here%e2%80%99s-how-canadians-could-walk-away-from-their-homes-if-house-prices-fall/ar-AAuw4PH?ocid=spartanntp

#78 Ronaldo on 11.06.17 at 10:22 pm

Bitcoin. This is what Jim Rickards thinks of it.

https://jimrickards.blogspot.ca/2017/11/jim-rickards-bitcoin-is-ponzi-scheme.html

#79 Papers lost in Paradise on 11.06.17 at 10:26 pm

#68 Smoking Man on 11.06.17 at 9:06 pm

#61 EmmEmm on 11.06.17 at 8:46 pm
RE: #43 Smoking Man on 11.06.17 at 7:59 pm

how funny that you think the biggies give a damn about Canada. Trump will never let Amazon set up the HQ in Canada. and from logistics standpoint, NJ is one of the best locations for Amazon HQ.

Canada will soon follow Mexico and become a place of NO technological advances but only meant for getting cheap labor

Watch and learn grasshopper.
I’m not a billionaire living in my kids one bedroom apartment for nothing.
……

Better to reign in Hell, than to serve in Heaven.

#80 For those about to flop... on 11.06.17 at 10:38 pm

Pink Pumpkins being carved in Vancouver.

Well, hello my old friend.
When I started this project around 10 months ago this house was one of my first cases presented.

As you can see they started trying to retrieve the bulk of their money back in October 2016.

At the time people told me anyone who wanted to sell their house and make decent profit then no problems.

People also stated that people would just take their house of the market until things got hot again and no one would actually take a loss.

In the intervening months since I have punched more holes in a lot of Vancouver real estate myths that it now resembles Swiss cheese.

People are losing money on condos,particularly in Richmond low end and high end.

People are losing money on older condos in Burnaby and downtown in particular Coal Harbour.Starting to notice people having trouble cashing out in Olympic a Village as well.

So the myth that condos are safe….busted.

Detached houses are not as desired as a couple of years ago and do we have seen losses in most of the cities that make up Greater Vancouver.

The people that have had properties on the market for over a year and are most likely to take a big hit are in Richmond luxury condos (3m)

Westside detached (5-10m)

West Vancouver detached (4-7) million

Anyway back to this Pink Pumpkin ,they paid 1.4 in May 2016 and just put it back on the market after taking it off for the summer and they aren’t even bothering to try and get it all back listing it at 1.3

Paid 1.4
Asking 1.3
Assessment 1.52

Hey Mon, what’s the problem…

M43BC

3406 mons Drive, Vancouver

Oct 15:$1,628,000
Jan 25: $1,499,000
Change: – 129000.00 -8%
https://www.zolo.ca/index.php?sarea=3406%20Mons%20Drive,%20Vancouver&filter=1

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

#81 Stone on 11.06.17 at 10:40 pm

#67 Ronaldo on 11.06.17 at 9:01 pm
#42 Re., 33 on 11.06.17 at 7:59 pm

Hahaha !

He’s a cartoon character . He literally follows his portfolio daily , proudly …and feels the need to update anonymous readers

I tell ya , this place can mimic a mental ward
—————————————————————
I needed a good laugh. I suspect many feel as you do. lol

——

I’m sure 99% of the population feel that way and that’s ok. I’m only concerned with the other 1% though and those who strive to become part of the 1%. They have merit. The rest are irrelevant other than to feed my dividends and other distributions. Laugh all you like. That’s free. Your consumption only feeds me and will make me richer. The one who laughs last laughs best.

#82 Entrepreneur on 11.06.17 at 11:00 pm

The news today mentioned the Paradise Papers and all countries set up a registry. Good start and long overdue. And after all we do have the internet, press of a button away. No excuse now.

Would anyone buy a house (used to be called home) now with the above chaos brewing?

#83 For those about to flop... on 11.06.17 at 11:11 pm

Recent Sale Report.

This one went 13 days ago.

Originally asking 3.28 then 2.99

Sold for 2.81

Tax assessment 3.14

Someone probably happy picking up a house in tony Point Grey for under 3 million…

M43BC

https://www.zolo.ca/vancouver-real-estate/4453-w-13th-avenue

#84 For those about to flop... on 11.06.17 at 11:24 pm

Recent Sale Report.

This one went 7 days ago.

5516 NW Marine Dr ,Vancouver.

Originally asking 13.8m then 12.8m then 12.3m

Sold for 10m

Tax assessment 12.72

So it’s a heavy hitter alright ,which might partly explain why it went for 27% less than original ask and 21% less than assessed…

M43BC

https://www.zolo.ca/vancouver-real-estate/5516-nw-marine-drive

#85 Alberta Ed on 11.06.17 at 11:41 pm

Whoo! Whoo! Just wait for the New! Improved! CBC to trumpet the latest TREB press release.

#86 DON on 11.06.17 at 11:49 pm

#26 Stone on 11.06.17 at 6:53 pm

I’ll also add the following: I think a certain Ryan Lewenza will be doing a little happy dance in the not to distant future in regards to his $60/barrel of oil prediction. We may soon have to call him The Oracle of Turner Investments. Is there enough room on his business card for that? ;-)
*******************

The spike could also be due to the new pieces of instability in the Saudi Kingdom and its not so friendly neighbors. Saudi’s are sable rattling. The oil kingdom has been looking to diversify their economy and appear to be providing more freedoms to their populations. Things change, when the endless easy money slows.

#87 bubu on 11.06.17 at 11:51 pm

How different is the B20 to qualify for 2% more from the 40 to 25 years mortgage change? I thought the prices will go down at that time but they didn’t…. why would they go down now? Just asking….

#88 Chico on 11.07.17 at 12:08 am

#44 For those about to flop… on 11.06.17 at 8:02 pm

Since this article mentions City Slickers, I’m sure Billy Crystal will check it out…

M43BC

“The Highest and Lowest Incomes for America’s City Slickers.

All throughout history, people have gone to cities to take advantage of the wealth and business. We wanted to know which metropolitan areas offered the best opportunities for Americans, so we looked at data for all 382 metros.

Want to know where to make the most money? Check out this map!”

https://howmuch.net/articles/gdp-metro-2017

—————

At first glance the information seems of value, but the lack of context and cost of living distorts reality. Matching the average income in relation to other costs like food, housing, insurance, medical, etc, would be valuable.

Wages in Nova Scotia are lower than other parts of Canada, but our car insurance is 1/4 of the lower mainland. I met a couple about a year ago from Calgary who were paying the same reduced rate as we are for the several months they were in the province.

A couple years ago a financial magazine rated the cities in Canada. They had North Van. around 20th. What value is it if you can’t afford the basic cost of living in a place like North Van?

#89 Ronaldo on 11.07.17 at 12:23 am

#42 Re., 33 on 11.06.17 at 7:59 pm

Hahaha !

He’s a cartoon character . He literally follows his portfolio daily , proudly …and feels the need to update anonymous readers

I tell ya , this place can mimic a mental ward
————————————————————–
My favorite cartoon character

https://www.youtube.com/watch?v=EvhIAg7NDvQ

#90 Leo Trollstoy on 11.07.17 at 12:23 am

All my predictions coming to pass…

Feels good man…

Thanks Smokie, I’ve learned so much from u

Gold still less than $1300? What is that now? 4 years in a row?

Lol

#91 Where's The Money Guido? on 11.07.17 at 12:50 am

Well I guess the machinations of the elite made the Paradise Papers disappear from the newspapers tout de suite.
Yesterday, I had to scroll down to the bottom of Vancouver’s papers to find anything about the Papers and checking today, not a thing.
Seems we have the elite’s peons who own these newpapers doing their best to delete anything to do with this thievery.
I guess the CRA is next.
We lose again, just like the Panama Papers and the Isle Of Man.

#92 Dolce Vita on 11.07.17 at 4:19 am

Ah.

B20 should impact RE but not crash it…melt probably correct, who knows in the end?

But large job losses will crash it.

Hey, maybe next report we will have + job gains again, this time from Janitorial and Garbage collection (a.k.a., “…Waste Management and Remediation Services”).

And why not, last month + job gains came from “…personal and laundry services.”

As we all know, Bay Street doing well and needs their shirts /skirts dry cleaned and pressed and it only follows, more office “rubbish” will need taking away as well.

Love you too Garth.

#93 Dolce Vita on 11.07.17 at 4:37 am

#37 Boombust

Not quite on myrealtycheck.ca.

Those are Resale residential listings.

When they speak of booming Condo sales in YVR, they mean New Developments where you have the Assignment, Flippers et. al., frolicking tax free, local and foreign, and turning that market into the Forex.

If you want to know what is happening in YVR new condo developments, follow @SteveSaretsky (an honest YVR Realtor that tells it like it is) on Twitter where you will learn about, for example:

Mirabel project in the West End of Vancouver. Starting at just $1750/sq ft. (add tearful emoji).

OR, his humorous post on 416 house flippers:

https://twitter.com/SteveSaretsky/status/926114068200439808

Plenty of numbers there as well with no “repurposing” of MLS numbers by the local board.

And, if you want to know how well the Bank of Mommy and Daddy are doing funding Junior’s brain dead unbridled condo/house lust, well I like to follow a bankruptcy advisor…you’ll find him on Twitter easily enough.

#94 under the radar on 11.07.17 at 5:10 am

Mortgages in Ontario are full recourse. It has always been true that a borrower can go bankrupt to avoid payment on a lender’s shortfall. Drastic solution full of consequences which last for years. Insured lenders don’t care, as they don’t lose if this happens , CMHC makes them whole on any deficiency incurred on a Power of Sale. Lenders get to enforce their security and the borrower can do very little to stop this. In Ontario , 15 days default and 35 days notice is required to start a power of sale, under the Mortgages Act. Smart private lenders act quickly when default occurs.

#95 Dharma Bum on 11.07.17 at 6:35 am

“So, we’re going into the next spring market with 80% more inventory, less buyer momentum, rising mortgage rates and a stress test nobody can escape.” – Garth
——————————————————————–

“(Greater) fools rush in where angels fear to tread.”

Hmmmmm…..Should be a busy spring!

#96 When Will They Raise Rates? on 11.07.17 at 7:02 am

#13 I’m stupid on 11.06.17 at 6:22 pm

The fundamental flaw with bitcoin is that it can’t inflate.

———-

That’s a feature, not a bug. At least for the time being…

The fact that it can’t inflate is precisely what makes it attractive to the investor class now, and then later the lemmings will flock to it out of necessity. See China, Greece, Cyprus, Venezuela, etc… At first it will be country by country as central banks hyperinflate national currencies while their respective governments enact draconian taxation and capital control measures, which they inevitably will since the real ponzi is debt-based money in a world with finite resources…

Once the entire world completely abandons fiat in favor of non-inflationary assets like Bitcoin, the wealth transfer will be complete, because:

If cryptocurrencies eventually replace fiat, and bitcoin is the de facto “gold standard” of cryptocurrencies, then those who got in really early (the creators and their friends) will stand the most to gain, ie a MASSIVE transfer of wealth beyond anything the parasites could have possibly envisioned back when they devised the traditional central banking skimming operation…

BTW, who is Satoshi Nakamoto and why hasn’t bitcoin already been declared illegal?

Could it be because TPTB created it and own most of the coins?

Not hedging for this possibility is unwise… Luckily for me, bitcoin was extremely popular in Libertarian circles years ago, so I have plenty of exposure. Watching the lemmings pour in only now is hilarious!

Finally, Bitcoin CAN inflate. They can inflate it at any time by simply changing the code, which I suspect they will once people have completely abandoned fiat. Game, set, match.

If this scenario is correct, there is a loooong way for Bitcoin to run before the end game plays out… It hasn’t even reached mass adoption yet. Use a portion of your profits to diversify into other asset classes while getting rich along the way. Easiest 10 bagger in your lifetime.

#97 Eyestrain on 11.07.17 at 7:25 am

In today’s edition, Garth predicts (again) that the end is nigh. Corroboration is provided in a colorful chart from an independent clairvoyant. Discussions are fewer and fewer, the censorship dragnet is tightening. I fear I may have precipitated events. Recently, I mass mailed a link to the delightful blog with the Siamese commiting Hari Kari under the header “#Me Ow”.
Some were not amused.
Neither was Her Majesty when I refused to kickback my advisory fee to her Corgi’s trust fund. Even her teeth are crooked. Alas, I have bigger problems with my own Princesses.

Offspring #1 and beau are content to rent forever in T.O., and watch her company pension whither at Manulifeless while chowing down at Forno Cultura. Issue #2 and beau are 100 miles away in his parent’s basement. Their urge to buy is irrepressible. What’s a dad to do? I’d like to help, but the money tree was stripped bare to pay for their “educations” and orthodontia. At least they have beautiful smiles.

PS
I beg forgiveness for sparring with an unarmed opponent (Re v Eyestrain). Can I get a hallelujah?

#98 crowdedelevatorfartz on 11.07.17 at 7:57 am

@#91 Where’s the Money
“Well I guess the machinations of the elite made the Paradise Papers disappear from the newspapers”
++++++

Or.
Like Wikileaks and the Panama papers……no one cares?
There’s more important things to read about!
The Canucks! The latest Hollywood Kevin Spacey, Weinstein revelations ! Game of Thrones!
My gawd Guido, get with current events!
Paradise Papers are so…like …yesterday.

#99 Ronaldo on 11.07.17 at 8:09 am

Gold still less than $1300? What is that now? 4 years in a row?

Lol
———————————————————
Depends what currency you deal in.

#100 re., Eyestrain on 11.07.17 at 8:50 am

In today’s edition, Garth predicts (again) that the end is nigh. Corroboration is provided in a colorful chart from an independent clairvoyant. Discussions are fewer and fewer, the censorship dragnet is tightening. I fear I may have precipitated events. Recently, I mass mailed a link to the delightful blog with the Siamese commiting Hari Kari under the header “#Me Ow”.
Some were not amused.
Neither was Her Majesty when I refused to kickback my advisory fee to her Corgi’s trust fund. Even her teeth are crooked. Alas, I have bigger problems with my own Princesses.

Offspring #1 and beau are content to rent forever in T.O., and watch her company pension whither at Manulifeless while chowing down at Forno Cultura. Issue #2 and beau are 100 miles away in his parent’s basement. Their urge to buy is irrepressible. What’s a dad to do? I’d like to help, but the money tree was stripped bare to pay for their “educations” and orthodontia. At least they have beautiful smiles.

PS
I beg forgiveness for sparring with an unarmed opponent (Re v Eyestrain). Can I get a hallelujah?

#101 Vanrentor on 11.07.17 at 9:03 am

As Vancouverites become more frustrated with the housing situation a group has taken to twitter to report illegal Airbnb’s to City of Van and CRA

http://www.news1130.com/2017/10/29/twitter-account-targets-illegal-airbnb-rentals-vancouver/

https://thinkpol.ca/2017/11/05/spooked-by-vistro-vancouver-hosts-ditch-airbnb/

They are also outing Realturds who operate short term rentals as this goes against their so called ethics.

#102 KLNR on 11.07.17 at 9:23 am

@#23 50 YEARS OF MAPLE LEAF INCOMPETENCE!

Oh man, you must be a real treat to be around LOL.

#103 Pips & Candlesticks on 11.07.17 at 9:24 am

#48 Smoking Man on 11.06.17 at 8:12 pm

Next book, tax evading Billionaire living in sons one bedroom apartment because he don’t kiss ass to thieving liberal commies.
Leaving for good soon once the hurricane damage is fixed.
………………………………………….
We who love and care about Canada are not stupid hockey players but rather brave Canucks who care enough about it to endure hardships in order to promote the country’s success. I don’t know what you think you are leaving to go to but go ahead and take the easy way out hater of everything Canadian. So sir, I say leave, leave now please. Leave as fast as possible and don’t come back. This country will be better off without the likes of you Benedict Arnold.

#104 Yuus bin Haad on 11.07.17 at 9:43 am

In the global ponzi of low interest rates and real estate over-investment, it doesn’t hurt to be among the first ones out.

#105 Penny Henny on 11.07.17 at 10:05 am

#81 Stone on 11.06.17 at 10:40 pm
#67 Ronaldo on 11.06.17 at 9:01 pm
#42 Re., 33 on 11.06.17 at 7:59 pm

Hahaha !

He’s a cartoon character . He literally follows his portfolio daily , proudly …and feels the need to update anonymous readers

I tell ya , this place can mimic a mental ward
—————————————————————
I needed a good laugh. I suspect many feel as you do. lol

——

I’m sure 99% of the population feel that way and that’s ok. I’m only concerned with the other 1% though and those who strive to become part of the 1%.

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

1 % er eh?
Yesterday my portfolio climbed, or should I say JUMPED, a whole 0.1437%!!
0.1437% x 250 trading days = 35.925% /year.
And not only that, I am a Genius and GOOD LOOKING.
I like to come here and pat myself on the back cause I have no freinds. I’m with you Stone! Will you be my freind?

/sarc.off

#106 When Will They Raise Rates? on 11.07.17 at 10:17 am

#103 Pips & Candlesticks on 11.07.17 at 9:24 am
#48 Smoking Man on 11.06.17 at 8:12 pm

Next book, tax evading Billionaire living in sons one bedroom apartment because he don’t kiss ass to thieving liberal commies.
Leaving for good soon once the hurricane damage is fixed.
………………………………………….
We who love and care about Canada are not stupid hockey players but rather brave Canucks who care enough about it to endure hardships in order to promote the country’s success. I don’t know what you think you are leaving to go to but go ahead and take the easy way out hater of everything Canadian. So sir, I say leave, leave now please. Leave as fast as possible and don’t come back. This country will be better off without the likes of you Benedict Arnold.

———–

He didn’t say he hates “everything Canadian”, just “thieving liberal commies”. Hard to disagree with that!

#107 Duke on 11.07.17 at 10:39 am

#61 EmmEmm on 11.06.17 at 8:46 pm
RE: #43 Smoking Man on 11.06.17 at 7:59 pm

how funny that you think the biggies give a damn about Canada. Trump will never let Amazon set up the HQ in Canada. and from logistics standpoint, NJ is one of the best locations for Amazon HQ.

Canada will soon follow Mexico and become a place of NO technological advances but only meant for getting cheap labor

———————-

You are spot on. Anyone thinks Amazon will have their HQ2 in Canada, you must be on a crack. LOL

#108 dosouth on 11.07.17 at 10:44 am

Hope the melts begin as we just sold our place for a good price and will now rent and sit on the sidelines, first showing and 4 days on market. Not even in one of the major markets, just on the right island.

#109 I’m stupid on 11.07.17 at 11:26 am

#96 when will they raise rates

Wow, just wow! You begin your defence of bitcoin with; its feature is it can’t inflate, then contradict your statement with it can. You have zero understanding of inflation. Bitcoin is nothing more than a Ponzi scheme operating on greaterfool theory.

Think of how stupid your statements are. You’re suggesting that computing power will determine the creation of wealth. Since bitcoin is “mined” using computers to solve ever increasing equations. I have a question for you. If IBM used Watson to mine for bitcoins how does that transfer wealth?

Really wealthy people don’t have cash, they have cash producing assets. If everyone used bitcoins those same assets would generate bitcoins and nothing changes.

#110 Ronaldo on 11.07.17 at 11:43 am

#96 When will they raise rates

Finally, Bitcoin CAN inflate. They can inflate it at any time by simply changing the code, which I suspect they will once people have completely abandoned fiat. Game, set, match.
——————————————————————
Yep they can and this is why gold is the better standard because the quantity only inflates by 1.5% per year. Total available 165000 tonnes/2500 mined yearly. There are over 1100 crypto currencies right now and increasing daily and as you state these numbers can inflate simply by changing the code. This you can’t do with that yellow metal that everyone hates. Which is more stable? That would be my choice for a backing for fiat currency. Guess what the next bubble is going to be?

#111 Ace Goodheart on 11.07.17 at 12:15 pm

Looks like the instant millionaire game in Bitcoin is mostly over.

Although they are doing something called a “fork” on November 16th 2017, essentially creating two types of Bitcoin.

The interesting thing now with the Bitcoin game is not the coin’s ever increasing value, but the interest that the big US banks are taking in it. I guess any security that has risen from a value of 0.08 cents per unit to over $7000.00 US per unit in just under seven years is interesting to banks.

The problem I see with Bitcoin is even the spendable part of it, Bitcoin “cash” is worth over US $600.00. Which makes it kinda hard to use as currency (you don’t go on Amazon for example with the ability to spend $600.00 US or more, you want smaller denominations).

If they figure out a way to split it up so that it has a unit that is dollar par value, then it would be a workable currency.

The key good point about Bitcoin is it is not a fiat currency. So it is not produced by an arms length organization and then sold to Government at a profit (that we all pay for in taxes). It’s open source, controlled by no government and owned by those who use it.

It’s also impossible for any government to either control Bitcoin, or shut it down. Doing so would require shutting down the entire internet. Any country attempting this would end up similar to Cuba (total government control over internet). Other than doing that, a government cannot influence or control this currency.

#112 Boombust on 11.07.17 at 12:38 pm

#93 Dolce Vita,

I am well aware of Steve Saretsky and he has stated numerous times that the current condo insanity going on here is driven mainly by local flippers rather than off-shore (e.g “Chinese money”).

#113 oncebittwiceshy on 11.07.17 at 12:44 pm

Bubu: “How different is the B20 to qualify for 2% more from the 40 to 25 years mortgage change? I thought the prices will go down at that time but they didn’t…. why would they go down now? Just asking….”
<<<<<<<<<<<<<<<<<<<<<<<<

Okay, buds, I'll bite. The 40 yr mortgage amortization came in 2007 and was changed in 2008 to 35yrs. In 2011 it dropped to 30yrs and then finally in 2012 it came down to 25yrs.

So, 40 yr mortgages lasted all of one year and it took 4 yrs to drop the amortization back down to 25years. During that time posted 5 yr. rates went from 7.42% to 5.27% with plenty of teaser rates for all.

So, fast forward to 2018 and suddenly (no 4yr. change here) your qualifying rate is jumping from 5yr rates today at mortgage brokers of 2.84% to 5% or more. Now, do you see the problem bubu?

Be very careful and stand in the middle of the room when everything starts shaking, brother.

http://mybcmortgage.ca/the-history-of-recent-mortgage-rule-changes-in-canada/

#114 Iconoclast on 11.07.17 at 1:07 pm

Bitcoin is a tulip bulb. A share in the South Sea Company.

A bitcoin is a large prime number that hashes to an interesting value. (As I understand it)
It has no inherent worth.

However, it has value as long as people ascribe it value. Similar to fiat currency.
Bitcoin was first, so it has some credibility.

But the fact it’s not sponsored by any government makes it vulnerable.

Were the Chinese government to ban the ownership or trade of Bitcoin tomorrow, on penalty of death, it could vanish. If the US Government was to “clarify” tax rules that Bitcoin owners owe taxes on their accrued gains as of tomorrow, the selling frenzy would be remarkable. If they can ban ownership of gold, they can do it for bitcoin.

I suspect those are the two biggest markets, and without them, the market is dead.

Personally, I’m going to bet the family fortune on GarthCoin. Gettin’ in early this time.

#115 Gravy Train on 11.07.17 at 1:11 pm

Excerpts from Trump’s speech delivered at Yokota air base in Japan:
“No dictator, no regime, no nation should ever underestimate American resolve,” he said.

And in a remark that held the potential to cause widespread offence in a country where America killed around 140,000 people in 1945 – when it dropped atomic bombs on Hiroshima and Nagasaki – the President added: “Every once in a while, in the past, they underestimated us. It was not pleasant for them, was it?”
http://www.independent.co.uk/news/world/americas/us-politics/donald-trump-japan-speech-not-pleasant-underestimate-us-hiroshima-nagasaki-atomic-bomb-north-korea-a8038551.html

Trump is the stupidest, most ignorant person on earth!

#116 Ian on 11.07.17 at 1:12 pm

#42 Re., 33 on 11.06.17 at 7:59 pm

Hahaha !

He’s a cartoon character . He literally follows his portfolio daily , proudly …and feels the need to update anonymous readers

I tell ya , this place can mimic a mental ward
—————————————————————
I needed a good laugh. I suspect many feel as you do. lol
—————————-

Any bets his daily updates stop once the vicious bear hits? I think he might be forgetting it’s been an eight year bull market.

Do I update all of you on my business accounts each day? Yes, many feel as you do.

#117 Ian on 11.07.17 at 1:13 pm

Garth, remember when all the B-20 deniers were here? Mike etc? Those contributors seem to have vanished hahahahahaha

My sides hurt. Inhale, exhale. Bahahahahahahaha

#118 Stone on 11.07.17 at 1:14 pm

#105 Penny Henny on 11.07.17 at 10:05 am
#81 Stone on 11.06.17 at 10:40 pm
#67 Ronaldo on 11.06.17 at 9:01 pm
#42 Re., 33 on 11.06.17 at 7:59 pm

Hahaha !

He’s a cartoon character . He literally follows his portfolio daily , proudly …and feels the need to update anonymous readers

I tell ya , this place can mimic a mental ward
—————————————————————
I needed a good laugh. I suspect many feel as you do. lol

——

I’m sure 99% of the population feel that way and that’s ok. I’m only concerned with the other 1% though and those who strive to become part of the 1%.

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

1 % er eh?
Yesterday my portfolio climbed, or should I say JUMPED, a whole 0.1437%!!
0.1437% x 250 trading days = 35.925% /year.
And not only that, I am a Genius and GOOD LOOKING.
I like to come here and pat myself on the back cause I have no freinds. I’m with you Stone! Will you be my freind?

/sarc.off

——

No thanks. I’ve got better things to do with my time. You’re a genius and good looking too? Small world after all. LOL

PS: spellcheck – freind. You’re absolutely right. I have no freinds. True freinds are hard to come by.

I’m actually enjoying the fact that what I write here seems to bother you. Don’t know why it should bother you but it seems to. I guess you’re looking forward to me reporting how my portfolio did at the end of today. Don’t worry, I aim to please.

#119 Fake News Again on 11.07.17 at 1:31 pm

Meanwhile gas is $1.45 in Greater Van – the most expensive place to buy gas in Canada. And the parasite called Govt wonders why I have not bought gas in Canada in two years. Sumas, WA – 20 minutes away – 95 cents after Cdn conversion.

#120 Fake News Again on 11.07.17 at 1:33 pm

#115 Gravy Train on 11.07.17 at 1:11 pm
Excerpts from Trump’s speech delivered at Yokota air base in Japan:
“No dictator, no regime, no nation should ever underestimate American resolve,” he said.

And in a remark that held the potential to cause widespread offence in a country where America killed around 140,000 people in 1945 – when it dropped atomic bombs on Hiroshima and Nagasaki – the President added: “Every once in a while, in the past, they underestimated us. It was not pleasant for them, was it?”
http://www.independent.co.uk/news/world/americas/us-politics/donald-trump-japan-speech-not-pleasant-underestimate-us-hiroshima-nagasaki-atomic-bomb-north-korea-a8038551.html

Trump is the stupidest, most ignorant person on earth!

_____________

Another never Trumper who knows nothing about the Clinton Crime Family. The noose is tightening around the Clintons by the way….

Pretty soon all the never Trumpers will be eating a lot of Crow Pie.

#121 Ian on 11.07.17 at 1:48 pm

Good post today on trying to model the future, aka 2018.

I predict a GONG SHOW decline. Whether melt or crash, who cares. Taking that much juice away from purchase prices will be catastrophic. I’ll throw a dart at about 15% off median GTA price based on B-20 alone, as an isolated factor.

#122 Ian on 11.07.17 at 2:02 pm

#118 Stone

It bothers everyone because it’s OBNOXIOUS.

Firstly, a minor complaint would be updating the returns on a passive portfolio each day. It’s boring as f. Read Superstocks which I use or look at Smoking Man’s fx return template which I did last week, it’s a lot more exciting and is a smooth equity curve, believe me. And again I’m very much looking forward to seeing how it performs when equities are down 30-70%.

The big mistake you made is mentioning the money under management. Do you see anyone else doing that? Wake up.

#123 Pips & Candlesticks on 11.07.17 at 2:04 pm

#106 When Will They Raise Rates? on 11.07.17 at 10:17 am

#103 Pips & Candlesticks on 11.07.17 at 9:24 am
#48 Smoking Man on 11.06.17 at 8:12 pm

Next book, tax evading Billionaire living in sons one bedroom apartment because he don’t kiss ass to thieving liberal commies.
Leaving for good soon once the hurricane damage is fixed.
………………………………………….
We who love and care about Canada are not stupid hockey players but rather brave Canucks who care enough about it to endure hardships in order to promote the country’s success. I don’t know what you think you are leaving to go to but go ahead and take the easy way out hater of everything Canadian. So sir, I say leave, leave now please. Leave as fast as possible and don’t come back. This country will be better off without the likes of you Benedict Arnold.

———–

He didn’t say he hates “everything Canadian”, just “thieving liberal commies”. Hard to disagree with that!
………………………………………………………
I agree but his guy knocks Canada as if it is a piece of shit state like Serbia or something. When the going gets tough the tough get going. He is taking it to mean he is leaving. I said to emphasize that when conditions become difficult, strong people take action, not flight!

#124 Braj on 11.07.17 at 2:16 pm

#114 Iconoclast on 11.07.17 at 1:07 pm
Bitcoin is a tulip bulb. A share in the South Sea Company.

A bitcoin is a large prime number that hashes to an interesting value. (As I understand it)
It has no inherent worth.

However, it has value as long as people ascribe it value. Similar to fiat currency.
Bitcoin was first, so it has some credibility.

But the fact it’s not sponsored by any government makes it vulnerable.

Were the Chinese government to ban the ownership or trade of Bitcoin tomorrow, on penalty of death, it could vanish. If the US Government was to “clarify” tax rules that Bitcoin owners owe taxes on their accrued gains as of tomorrow, the selling frenzy would be remarkable. If they can ban ownership of gold, they can do it for bitcoin.

I suspect those are the two biggest markets, and without them, the market is dead.

Personally, I’m going to bet the family fortune on GarthCoin. Gettin’ in early this time.

***

You still don’t get the utility/economic value of trust do you?

#125 Lost...but not leased on 11.07.17 at 2:19 pm

DELETED

#126 Braj on 11.07.17 at 2:21 pm

Think of how stupid your statements are. You’re suggesting that computing power will determine the creation of wealth. Since bitcoin is “mined” using computers to solve ever increasing equations. I have a question for you. If IBM used Watson to mine for bitcoins how does that transfer wealth?

***

Holy Ship, you really are stupid!

You need to use google some more to learn more about this instead of spewing.

#127 Braj on 11.07.17 at 2:23 pm

#75 Nuke on 11.06.17 at 10:01 pm
Back in 2009 I wrote a paper on the attributes digital currency, specifically to replace fiat currency in India and Africa. Bitcoin just came out and my concern was that it would not be a stable medium of exchange but likely a store of value. When I blogged about it the price was 1540 Bitcoins to $1US. Now it is 1 BitCoin to $7,200US.

***

Store of value is the key word here for all these nay-sayers. I don’t think Bitcoin in it’s current form will be used for transactions, but definitely as a store of value due to it’s decentralized trustless ecosystem.

#128 Braj on 11.07.17 at 2:36 pm

#46 Ace Goodheart on 11.06.17 at 8:06 pm
Oh and if all you lot figures that the time to make serious money in Bitcoin is past…….once again you are wrong.

Something very interesting is about to happen to Bitcoin on November 16th, 2017.

Get the bet right, and you might have a second chance at becoming a Bitcoinaire….

***

I don’t think the SegWit2X fork will succeed. Bitcoin’s resilience to all these various events will inspire more confidence. Price will go up and it will like break 10,000 CAD no problem.

#129 Braj on 11.07.17 at 2:38 pm

#39 Stone on 11.06.17 at 7:50 pm
Just thinking about Bitcoin and fiat currencies. Let’s say fiat currencies disappear and only cryptocurrencies remain. So, there’s only so much Bitcoin out there as Bitcoin mining involves using computer processing space and high electricity costs.

My big question is…how is that an effective means of pricing a good or service when the cryptocurrency isn’t stable and fluctuates drastically. At one moment, a loaf of bread cost 1 Bitcoin. 5 minutes later, it costs 3 Bitcoin. The next, half a bitcoin. Any business would be bankrupt within days if not hours. What about employees paid in Bitcoin? Work 2 weeks and get paid in Bitcoin only to find out you can’t even buy a loaf of bread with your 2 weeks of earnings. OMG! I’d rather work for food and shelter.

This is definitely a speculative play only. The more I try to understand it’s usefulness, the more I think that it’s absolute nonsense. How long before we see this all collapse?

How many dummies does it take to buy Bitcoin? Many, apparently.

Hope if you bought, you are not the last one out. It’s gonna hurt real bad for a lot of dummies.

I have a feeling someone is laughing real hard somewhere in the cryptocurrency ether.

Lastly, I think Canadian Tire money has more credibility.

***

Bitcoin will never replace currency as it is today. It will replace gold or bonds as a store of value.

#130 Lost...but not leased on 11.07.17 at 2:50 pm

#77 Dr.

Is jingle mail possible?

Of course it is…

We are assured” it’s different here in Canada”…but if our system becomes so overwhelmed by bankruptcies and defaults it will become an uncontrollable tsunami.

This begets the question as what doomsday scenarios does CMHC have planned for ? Once the herd panics how will it all unravel ? etc.etc.

#131 robert james on 11.07.17 at 3:00 pm

There ya go.. The Boss says “List empty home or pay fine”.. https://www.castanet.net/news/BC/210976/List-empty-home-or-pay-fine

#132 Ponzius Pilatus on 11.07.17 at 3:27 pm

#119 Fake News Again on 11.07.17 at 1:31 pm
Meanwhile gas is $1.45 in Greater Van – the most expensive place to buy gas in Canada. And the parasite called Govt wonders why I have not bought gas in Canada in two years. Sumas, WA – 20 minutes away – 95 cents after Cdn conversion.
————–
Good for you.
I trust you are an honorable man and go to Sumas when you need medical help.

#133 Lead Paint on 11.07.17 at 3:38 pm

Braj gets Bitcoin, learn from him/her. It’s stores value that is easily transferred across borders unlike any other investment class, and largely untraceable and anonymous . It’s also a good hedge against inflation.

#134 TurnerNation on 11.07.17 at 3:44 pm

@Tony nice call on the (b)light coin today. LTH.

#135 I’m stupid on 11.07.17 at 3:48 pm

#123 Braj

You still don’t get the utility/economic value of trust do you?

That’s the dumbest statement I’ve ever heard. I’ve heard some stupid things in my life but that must be the dumbest. I promise to stop talking about bitcoins, no point in trying to reason with craziness. Hopefully you have all your money in bitcoins.

Economic value of trust that’s the same as buying a car with a big smile. Hahahaha

#136 bdwy sktrn on 11.07.17 at 3:49 pm

https://www.realtor.ca/Residential/Single-Family/18774496/2156-NAPIER-STREET-Vancouver-British-Columbia-V5L2N9
————————
Opportunity in popular Grandview . House very poor condition. Sold “AS IS”. Mold and water damage. . No heating or lights. Daylight showings only. Low unfinished basement.
…………………
east van still 1.5m for a charmer like this

bring yer backhoe!

#137 Stan Brooks on 11.07.17 at 3:49 pm

#123 Pips & Candlesticks on 11.07.17 at 2:04 pm

I agree but his guy knocks Canada as if it is a piece of shit state like Serbia or something. When the going gets tough the tough get going. He is taking it to mean he is leaving. I said to emphasize that when conditions become difficult, strong people take action, not flight!

——————————-

You are brainwashed and stupid.

Wondering where your superiority complex is coming from. From the MSM propaganda?

When conditions become intolerable smart people leave. You are a piece of shit.

#138 HaHaHa on 11.07.17 at 4:00 pm

Gravy Train says Trump is the stupidest man on earth. Not to mention “mean, obnoxious, fascist, misogynistic, yada yada yada.” That is why a safe space is created for you called Canada. They voted out that bad Steve Harper and gave you Justin. Feel the love.

#139 NAPIER STREET on 11.07.17 at 4:10 pm

#136 Bdwy Sktrn
bring yer backhoe!

Unfortunately, it’s even worse than that.
A 1911 “house” cannot be razed.
It needs to be recycled instead (*).

So that is a 1.6M lot, with a MINUS 100K building on it :-(
Considering the ‘hood, I expect zero takers at that price.
So it’ll probably burn down by accident at some point?

(*) Thank your zealous left wing politicians for that.

#140 aa3 on 11.07.17 at 4:20 pm

I know it is pocket change to the Toronto home owners, but they seem to be losing over $20k a month in home equity.

#141 re. 137 on 11.07.17 at 4:41 pm

You are brainwashed and stupid.

Wondering where your superiority complex is coming from. From the MSM propaganda?

When conditions become intolerable smart people leave. You are a piece of shit.

……………..

NO. He’s right. Someone has to STAY , have COURAGE, to repair the wrongs

it is selfish, cowards that bail. They aren’t true leaders , anyway, so…you’re not missed. Oddly, you keep posting at a Canadian site?…:)

#142 A Yank in BC on 11.07.17 at 5:03 pm

#132 Ponzius Pilatus on 11.07.17 at 3:27 pm
“I trust you are an honorable man and go to Sumas when you need medical help.”

Honor has nothing to do with being a wise consumer. Are you telling us that you wouldn’t fill-up before crossing the border?

#143 AGuyInVancouver on 11.07.17 at 5:06 pm

#137 Stan Brooks on 11.07.17 at 3:49 pm

You are brainwashed and stupid.

Wondering where your superiority complex is coming from. From the MSM propaganda?

When conditions become intolerable smart people leave. You are a piece of shit.
_ _ _
LOL, when conditions become intolerable in Canada.
Where’s your tin hat hysteria coming from, Rebel Media?

#144 SimplyPut7 on 11.07.17 at 5:25 pm

#136 bdwy sktrn on 11.07.17 at 3:49 pm

wow.

Kind of scary to think all levels of government in BC just didn’t care to get a handle of the vacant homes problem earlier.

#145 Boombust on 11.07.17 at 5:45 pm

#136

$1.5M for that dump is an asking price, you moron. Unless of course, a Greater Fool like you comes along, which is what they’re hoping for.

#146 Old Ron the Realtor on 11.07.17 at 5:52 pm

Hey FAKE NEWS AGAIN :

Please take your credit card and have all of your medical work done in the great state of Washington. But : Your medical bills will max out your card in 5 minutes, preventing you from filling up your car with cheap USA gas.

#147 Andrew Woburn on 11.07.17 at 6:07 pm

Here’s that boring old thing about history repeating itself. It’s different this time.

“Centuries of Data Forewarn of Rapid Reversal From Low Interest Rates – Bloomberg”

https://www.bloomberg.com/news/articles/2017-11-07/centuries-of-data-forewarn-of-rapid-reversal-from-low-interest-rates?

#148 Ponzius Pilatus on 11.07.17 at 11:43 pm

#142 A Yank in BC on 11.07.17 at 5:03 pm
#132 Ponzius Pilatus on 11.07.17 at 3:27 pm
“I trust you are an honorable man and go to Sumas when you need medical help.”

Honor has nothing to do with being a wise consumer. Are you telling us that you wouldn’t fill-up before crossing the border?
————
Garth,
Where are you getting posters like this?

#149 When Will They Raise Rates? on 11.08.17 at 2:39 am

#109 I’m stupid on 11.07.17 at 11:26 am

#96 when will they raise rates

Wow, just wow! You begin your defence of bitcoin with; its feature is it can’t inflate, then contradict your statement with it can.
—————

It can’t inflate under the current code, but the code can be changed in the future. What’s so hard to understand about that “I’m stupid”?