Not cool

There comes a point at which people can’t afford houses. In Toronto, it could be here.

The new reality is most evident in the new-house business. The average price of a fresh home, smelling of drywall compound, paint, glue and all that quality particleboard, is now $1.223 million. Too much. As a result, sales have plunged.

As 2017 ended, that was obvious to everyone. In all of the six-million-plus GTA, just 322 new single-family dwellings (that includes detacheds, semis and towns) were sold. That was down a shocking 82% from year-before levels, and 76% below the 10-year average. In fact it was the lowest recorded number. Ever.

So, if you’re a big builder sitting on serviced land and wanting to stay solvent in a real estate market rapidly losing altitude, whaddya do?

You betcha. Put your houses on sale.

The result for Mattamy Homes – the biggest of the big (so big it’s constructed a factory-based house assembly line in the past) – is a social media storm. The shaming started this week with the media interviewing pissed-off people who bought new homes a year ago (not yet built) and now see similar properties in the same hood being marketed for less. A lot less – $90,000.

Apparently real estate sometimes goes down. Who knew?

“To come back a year later and see the same house that we bought is now $90,000 cheaper, that’s not cool,” says a buyer who cannot understand why her unbuilt house cost more last year than an unbuilt house in the same subdivision, sold by the same developer now. And you can bet nobody else on Twitter, Snapchat or IG will get it, either. Houses always go up, and if they don’t, then Mattamy should take the hit – not the fools who bought at the market’s peak. Life is so unfair.

Jilted Millennial buyers Astrid Poei and Sheldon Fisher started the Mattamy assault.

_________________________________________________________

I’ll call him Franco, because as a new-housing business guru, a familiar media face and insider, being quoted on this blog is careericide. F looks at the Mattamy pricing chop in east GTA and says he understand completely. “Face it. Low rise prices have decreased on average between 17% and 20% in Durham Region since April 2017. There thousands of homes to be built there by many of the major builders over the next few years and they’re now making adjustments to their pricing to recognize that lack of sales over the last few months. They are aware of what has (and is happening) in the resale market.”

But Mattamy’s being a bit ballsy. Most builders are throwing around incentives (free rec rooms, free landscaping, an extra tree!) rather than chopping prices and starting a war with the greater fools who lined up outside the sales trailers last spring. “This notionally protects the price that existing buyers had paid while maintaining a comparable price point for all concerned.”

Will the builder be savaged online now? Of course. The absolute convictions of an entire generation are being shredded. In a shocking, debilitating series of revelations they’ve discovered that, yes, the cost of money does go up. No, the government isn’t going to move in and protect their mortgage rate. Justin may not even care. And, OMG, the price of a house can be lower than it was last year. Suddenly using twenty times leverage to buy a condo or a semi at the most inflated value in history, with money that will cost a lot more when it renews, doesn’t look savvy. In fact, it could be crushing.

“The Mattamy move is surprising,” adds F, drawing deeply on a Chai-flavoured vape. “How will this end? Mattamy should consider adjusting the price to the existing buyers. They may be worried prices won’t return to what they were a year ago, and that their sales volumes will not recover quickly enough to achieve economies of scale once construction starts. Also, they’re trying to increase market share, since most other builders have canned their openings until the smoke clears.”

The company has made a small concession ($30,000) but the jilted buyers of 2017 are still deeply offended. Mattamy shrugs. Buyers are very happy when the market goes up, an exec says, so “they have to appreciate that the same decision could go the other way.”

And so it starts.

Rising mortgage rates. The stress test. Falling prices. And lower valuations for everyone who was insane enough to jump into a market at its peak, believing it would ascend forever. Today’s generation of first-time buyers has never experienced a falling market. Never borrowed a mortgage at 5%, let alone 8%. Never seen a property grow illiquid. Never felt trapped in real estate that could not be sold. Never faced a loan renewal at a higher rate. And never seen houses go for less this year than the last.

Apparently many of them think life already sucks. So this should be interesting.

289 comments ↓

#1 Andy Warhole on 01.24.18 at 5:23 pm

First it was the ketchup, now the soup?

Campbell’s is shutting down their Toronto plant, almost 400 jobs gone, but the kiss-asses jobs are safe.

Apparently soup sales are way down so production will be moved to the US . Are millenials really too lazy to open a can, or could it have something to do with the taste? And what about the production people whose next meals will be hearty bowls of stone soup? Sure, they watered down the soup, and replaced the chicken bits with foam, but under whose visionary leadership?

Buy local. New logo of the CDN foragers union : FU

#2 TurnerNation on 01.24.18 at 5:24 pm

Blog Dogs is tomorrow the International Day of Rage against Cara/The Keg?

(After the Timmy Jortons one)

I avoid all Cara restaurants instead I can name ten local or independent ones downtown T.O. with better
food/atmosphere/staffers I’ve been to.

Starve the Beast!

#3 For those about to flop... on 01.24.18 at 5:26 pm

Pink Snow falling in Vancouver.

I won’t do any commentary on this one ,the listing is funnier than anything I could come up with.

“Earn up to $7000/month, or $84K yearly revenue with this 8-bed 5-full bath home in the popular South Vancouver. Rarely find under 2 million! Fully updated 3 levels of over 3000 sqft living space. Do not fool by the age, rebuilt in 1990s with upper level added, big revonation done in 2017. Perfect investment to hold a growing big lot with instant cash flow. Potential of 4 unites with separate entries, each suite has kitchen & laundry and spacious rooms. New paint, new carpet, new doors, new appliances, new washer dryer & much more! Trouble free turn key condition waiting for its new owner. Prime location: 5 mins to richmond, 5 mins to marine gateway CanadaLine. 15 mins to Downtown. Steps to Shopping/School/Park. Motivate seller try your offers! ”

Code for “We got caught with our pants down, please help!Do you think our realtor is fluent in English?”

Licorice All-Sorts.

They’re out there…

M43BC

1038 e 51st ave,Vancouver.

Paid 1.85 April 2017 asking 1.88

https://www.zolo.ca/vancouver-real-estate/1038-e-51st-avenue

Flop For Fox Fund…

http://www.terryfox.org/get-involved/ways-to-give/

#4 I am in C on 01.24.18 at 5:30 pm

I remember back around 1990 when a developer got sued when bellwether his prices on unsold houses north of Toronto. The end result? Out front of the development there was a Mercedes and a boat with a sign saying if you bought you could have your pick!!

#5 waiting on the westcoast on 01.24.18 at 5:31 pm

“To come back a year later and see the same house that we bought is now $90,000 cheaper, that’s not cool,” says a buyer who cannot understand why her unbuilt house cost more last year than an unbuilt house in the same subdivision, sold by the same developer now.

It’s funny how we didn’t get that quote on the way up… More like….

“Wow, I put 50k down and the property is already up 150k and they haven’t broke ground yet. That’s so cool!”

It’s going to be a rough ride down for some people. I hope they are looking to either bail to save $$$ or look for additional sources of cashflow to help them as costs mount and values fall.

#6 John Nicholson on 01.24.18 at 5:32 pm

The folks that think real estate only goes up should look
at 1982. It does happen from time to time.

#7 calgaryguy on 01.24.18 at 5:35 pm

http://www.cbc.ca/news/canada/calgary/calgary-rent-vs-buy-road-ahead-1.4490332

Are you helping the CBC now? I know Toronto/Vancouver gets the limelight for Canadian real estate these days, but Calgary seems pooched.

Renting is literally 50% the cost of buying. The article does not even count for incentives (free months rent is typical).

With equities booming, interest rates rising, rent getting cheaper by the day, who is buying?

#8 Fish on 01.24.18 at 5:35 pm

Also very good probability in the near future of not receiving your mail by Canada Post

#9 Andrew on 01.24.18 at 5:41 pm

Millennials? Now now, the one complainer in the article whose age was listed was 52 years old. Entitlement is something all generations can share.

#10 Tbone on 01.24.18 at 5:42 pm

Joe Pesci would of got all his money back ,
Remember him in Casino talking to the banker that lost his money , lol.

#11 Roial1 on 01.24.18 at 5:43 pm

Well Garth, I guess that the s—-t well and truly hits the fan now.
Thanks to you we are safe and secure with our balanced
Portfolio .
Wouldn’t be there with out your advice.

From the beach in Nicaragua.

#12 Old gringo on 01.24.18 at 5:44 pm

Garth!
I’m very proud of you.
The constraint you show on some of these idiots comments is awesome.
You’re to be applauded for your tenacity.
As for the housing market, its so done.
Call the janitor, it’s time to start cleaning up

#13 Zapstrap on 01.24.18 at 5:44 pm

Sooner or later we are ALL going to suffer over this. One way or another. We are ALL in this together … like it or not.

#14 paracho on 01.24.18 at 5:44 pm

This reminds me so much of the early 1990s and the new subdivision we lived in. 7 of our Woodbridge neighbors… on a street with 38 houses lost their houses then . The builder was still building two streets to the west as the houses were sold prior and for an amount less than the houses than the 7 that weee going straight to receivership . Many of those new houses two streets over laid empty for a few years . Even though they were more affordable !

#15 Oakville sucks on 01.24.18 at 5:48 pm

The couple sounds like wining couple. Grow up already and and be an adults…stupid millennial!

#16 Jungle on 01.24.18 at 5:49 pm

Why would you buy new from builder with bad rep, when you can get detach on market for way less? We’re they expecting to flip?

#17 Mark on 01.24.18 at 5:49 pm

Not only is money now getting more expensive interest-rate wise, but the outsized loans that were taken out to buy Canadian RE at a low point in the CAD$, are now having to be repaid in significantly more valuable CAD$. And because the economy is slowing and jobs are drying up, even obtaining those more valuable CAD$ is becoming an increasingly expensive and difficult proposition.

All of this is toxic for existing owners, many of whom, especially if they bought at or after the 2013 peak in prices, might be feeling pretty sick about the future prospects for their RE purchase at this point.

I personally remember 1994 quite well in the GTA, particularly in what was at one time the outskirts of the region, northwestern Mississauga. Houses that just a couple years earlier were being sold by builders in the $500k range, could be bought, in cash, for $200-$250k. Those who were liquid, or those who possessed inversely correlated investments, such as in the stock market, had an enormous increase in buying power. The 1989 buyers spent the next 15 years making payments at rates that occasionally went into the double digits, and had little to no participation in the tripling of the TSE that took place in that decade.

Today’s action in the price of gold, and the price of oil and gas appears to be a likely precursor to the equities in those sectors experiencing outsized returns in the not-so-distant future. They say that history never truly repeats itself, but that certain themes remain constant. As bubbles always pop. The unsustainable proves to be unsustainable. And excessive debtors almost never win.

#18 Paul on 01.24.18 at 5:52 pm

Gotta get me some chai flavoured vape sauce or whatever it’s called.

#19 Rainman on 01.24.18 at 5:58 pm

I have to say you gave me a few belly laughs today Garth. :) A lot of people just don’t get it, but are going to find out pretty quick in the upcoming years…

#20 Bob Dog on 01.24.18 at 6:01 pm

Astrid and Sheldon. Those names perfectly fit the idiotic look on their mugs.

It appears they are well dressed and prepared to spend next winter living on the streets of Toronto.

I assume the developer is experienced and not stupid enough to pay “canadian” sums for the raw land. Im sure they can drop home prices another 40% without going into the red.

#21 Greater Fool on 01.24.18 at 6:01 pm

“Apparently, many of them think life already sucks”
I think that my life sucks because I live in a city where I can’t afford a shed. Well, I can, if I say goodbye to my retirement and savings…

#22 Suburban coyote and pup on 01.24.18 at 6:05 pm

Bought first home resale tiny 2 bdrm 1 bath in west burl aldershot in feb 97 for 150k at 6.5 fixed . The prior owners had bought 16 months earlier for 164k. I don’t recall there being a terrible economy but real estate was certainly flat and contracting a bit. I never forgot the agent explaining that the sellers “were in over their heads down hadn’t anticipated the costs of home ownership”. There are many people in for a terrible awakening and it won’t be for a 15k loss

Onf52

#23 MF on 01.24.18 at 6:06 pm

#249 technical analysis? on 01.24.18 at 2:13 pm

“the US is broke. a lower currency is inflationary. that’s all they have left to get out of their debts.”

-The debt is a worry, no doubt. Thing is, everyone else is in even more debt.

MF

#24 Suede on 01.24.18 at 6:06 pm

oh man…

if housing corrects 20% or more then don’t be surprised if the NDP with Jag replaces JT and his parade of international equality champions.

They’ll lock in the “I lost money on housing and developers are evil” crowd.

#25 MF on 01.24.18 at 6:07 pm

#16 Jungle on 01.24.18 at 5:49 pm
Why would you buy new from builder with bad rep, when you can get detach on market for way less? We’re they expecting to flip?

-Yes they were. Maybe live in it for 3-4 years then flip at a massive profit.

Intention to pay off any mortgage = 0

MF

#26 Kamloops mayor on 01.24.18 at 6:07 pm

It’s called business… don’t buy a pre built! Shit don’t go up forever! I bought a pair of pants in December for 120$ i seen last week at same store they were 79$ and not even on sale. Should i go cry to the manager? No, it’s business. Suck it up Astrid and Sheldon. Move to Kamloops, new builds here 645-700k that cheap!
Council meeting starting gotta go deal with dt issues!

#27 @careeraftschool on 01.24.18 at 6:11 pm

Actually it’s not just the younger generation that will be screwed by higher rates. Since the 1980’s, Boomers have generally renewed their mortgages at lower rates almost every time. With the rise of real estate prices they have also used extreme leverage to buy as much property as they could qualify for. This is not going to end well as most are reaching retirement age and have little in actual savings.

#28 Dan.t on 01.24.18 at 6:11 pm

#13 Zapstrap on 01.24.18 at 5:44 pm
Sooner or later we are ALL going to suffer over this. One way or another. We are ALL in this together … like it or not.
——————————-

You just summed up Canadian mentality to a T. Didn’t anyone tell you not to jump off a bridge just because everyone is doing it?

Herd moving together, group think and everyone justifying it because, well, everyone is doing it. If it goes bad, we are all in it together.

I hope it goes real bad and all the debt pigs get what they deserve…but ya, probably right, everyone will cry, gov will come up with some BS bailout to once again screw savers, and maybe even investors. It’s what they do.

Funny how everyone looks to a bloated gov to solve everything. Where were the liberals in BC when it was openly known crime, casinos & money laundering, the Vancouver model, foreign real estate scams, oh, right, selling out the country and turning a blind eye to it all. And yes, that is a fact. It is out in the open now that NDP is in and it should be.

But it was all good because insane housing prices and massive speculation is awesome.

And now politicians and gov should sold the problem? Didn’t they create it? Funny how that works.

#29 GF Virgin on 01.24.18 at 6:15 pm

First time poster, long time reader. I very much appreciate all I have learned on this blog – both from the articles and from all the interesting and sometimes colourful commentary in the comments. Thank you all!

I was hoping to get a little advice from the dogs. I’m looking to start investing in a balanced ETF portfolio in an RRSP and use my tax refund to invest in a TFSA. What are your balanced portfolios consist of? I’ve done a fair bit of reading, was considering the lazy potato on a couch approach and a few other online recommendations. What I do know, is the mutual fund investments I have with my financial “advisor” have performed poorly and I’m looking for a simple, self directed approach moving forward.

Any insight would be appreciated!

#30 Johnny on 01.24.18 at 6:18 pm

Did the general population void all responsibility for their actions?
Seems like now days when something unfavourable happens, people aren’t willing to look at the decisions they made and apply a subtle hint of scrutiny. It’s not conceivable they could have made an error of judgement or just been subject to market changes. The only option is to piss, moan and complain to anyone & everyone that’ll listen…

I wonder what someone who lived through Soviet Russia would think of this situation.

#31 MF on 01.24.18 at 6:18 pm

#238 Bitcoinnaire on 01.24.18 at 1:16 pm

“I’m a liquid multi-millionaire thanks to crypto, and I’m not yet 30. Yes, thanks to crypto, I can afford to follow your advice on capital preservation, but you insulted me when I offered you business, so I’ll be talking to some private hedge fund to grow my money.

The world belongs to those who understand it.”

-Usually, anyone who feels the need to brag on a blog about their net worth is lying.

Anyways,

I’m 34. A lot of my friends (usually younger millennials in their 20’s) trade it. All they talk about is the next big crypto to explode. The speculative element is so glaringly obvious it’s hilarious.

MF

#32 Dead Cat Bounce on 01.24.18 at 6:22 pm

Lucky # 13 Zapstrap
Sooner or later we are ALL going to suffer over this. One way or another. We are ALL in this together … like it or not.
—————————————————————–

Truth !

#33 A. DePlorable on 01.24.18 at 6:26 pm

As an ignorant American, I have no idea if the information in this article is true, but I’m passing the link for your consideration.

http://canadafreepress.com/article/justin-trudeau-maybe-he-is-just-really-really-stupid#.WmXgLNbJzIA.facebook

#34 Miss Construed on 01.24.18 at 6:29 pm

Watching this train wreck safely from the sidelines. Where’s the popcorn!!??

#35 No Sympathy on 01.24.18 at 6:31 pm

I have no sympathy for these financial illiterates.
I have been listening to their types, for the last 5-10 years, brag about their financial acumen of ‘getting into the market’, ‘couldn’t be happier’, ‘have already made X dollars on the property since buying’, ‘might add another property to my ‘portfolio”. All the while, they are hosting dinner parties with patio furniture in their living rooms, serving wine out of a 4 liter box and eating mac and cheese 3-5 days a week.
Your ‘portfolio’??? You don’t even know what a portfolio is.
The majority of these people deserve what they get for over leveraging and the smugness it which they did it. It’s not like the BoC wasn’t warning them for the last several years to not overextend. They are complaining now? Wait until they move in, when the construction is finished in a year or more. A $90K loss will look desirable.

#36 Blessed Canadian Millenial on 01.24.18 at 6:31 pm

Smoking Man on 01.24.18 at 9:53 am
#190 81 cent CAD and rising Canadian Millenial on 01.24.18 at 8:52 am
BANNED, with no further acknowledgments
……

Garth is giving you a free lesson on communism. Free speech is the first thing to go. See how that drives you nuts.
How do you think conservative modorate voices feel when they are getting silenced by Twitter, YouTube, and Facebook.

Extreme voices weather ying or yang should not be tolerated.

Chill out.

———-

Precisely, and well said.

Don’t forget to add “Google” in the mix as they tend to display news that are very left-leaning.

On one hand, I actually feel bad for SCM and a lot of the millenials given how ill- and under-informed they are.

Anyone 25 who doesn’t vote Liberal, has no heart. Anyone 35 who doesn’t vote Conservative, has no brains.

#37 TheWilyKatipo on 01.24.18 at 6:32 pm

It’s just like NZ circa 1987 when the outraged sharemarket speculators were howling and screeching about how unfair it was because shares only go up, and demanding that the government bail them out.

Aaaah, nostalgia.

#38 Smartalox on 01.24.18 at 6:34 pm

To be fair, if you read the article posted on the CBC web site, it’s not Astrid and Sheldon that are complaining about the $90k discount specifically:

‘That’s not cool’

Still, Mattamy did try to help Phase 1 buyers with the price drop.

Those who could afford it were allowed to increase their deposits in return for reduced prices, but only up to $30,000.

For Dionne Thompson, who also bought in Phase 1, it’s not enough.

“To come back a year later and see the same house that we bought is now $90,000 cheaper, that’s not cool,” Thompson, 52, said in an interview.

Thompson says she understands the market goes up and down, but believes Phase 1 buyers deserve more compensation from Mattamy because they were the first to buy into the project.

But this is my favourite quote from the article:

Astrid Poei says they’ll have longer closing periods and have to endure more construction in the area.

“The new purchasers are standing on our shoulders. Let’s respect the Phase 1 buyers who took a leap of faith when this was just dirt,” she said.

Bah ha ha ha ha! Poor Astrid acts like they did Mattamy a favour by paying (then current) market value for their homes.

Like everything else that Mattamy does, they owe you nothing more than the minimum legal requirements.

#39 dakkie on 01.24.18 at 6:34 pm

Real Estate to be Torpedoed in 2018?

http://investmentwatchblog.com/real-estate-to-be-torpedoed-in-2018/

#40 Ray Skunk on 01.24.18 at 6:36 pm

Forget the money, everyone is missing the point here.

A Mattamy pressed-cornflake identikit shoebox in WHITBY?

Imagine your life turned out so badly you ended up plumping for the President’s Choice version of Milton.

How utterly ghastly.

If that’s what my life came to, I’d sooner be dead.

#41 Stan Brooks on 01.24.18 at 6:38 pm

It seems there is massive, really massive outflow of capital from Canada by big businesses, so now the liberals are desperate to stop that.
So we have the Loblaws investigation by CRA.
Which will accelerate the capital outflow.

Who would like to be subject to inquisition by liberal incompetents and corrupt politicians?

and they are desperate to come after the small business as their robbery is the last shot in attempt to maintain the party going.

When the T2 and wild bill are shown the door at Davos and come home empty handed it will be the beginning of the end of an economy this country never had.

It was all borrowed folks. In the last 20 years it was all borrowed.

#42 Damifino on 01.24.18 at 6:39 pm

#32 Dead Cat Bounce

We are ALL in this together … like it or not
——————————-

I don’t think so. We weren’t ‘all in it together’ on the way up, so why will everyone take a ride down?

Unbalanced and over-leveraged greater fools will be largely on their own. Nor will Pierre’s boy help them.

#43 Andrew Woburn on 01.24.18 at 6:40 pm

Why a sharply lower Canadian dollar appears to be on the horizon

https://www.theglobeandmail.com/globe-investor/inside-the-market/bond-market-forecasts-indicate-a-sharply-lower-loonie-is-on-the-horizon/article37710919/

#44 Stone on 01.24.18 at 6:42 pm

#32 Dead Cat Bounce on 01.24.18 at 6:22 pm
Lucky # 13 Zapstrap
Sooner or later we are ALL going to suffer over this. One way or another. We are ALL in this together … like it or not.
—————————————————————–

Truth !

———-

False !

Please replace ALL with “foaming at the mouth FOMO sheeple”. We will not ALL suffer. Only they will.

Please stick to facts, not truths.

#45 For those about to flop... on 01.24.18 at 6:51 pm

Pink Snow falling in Vancouver.

These guys would lower their price if they could just to entice a bid ,but they are already at the point where they are just trying to pass the expenses on to the buyer.

Picked up in April 2017 after a six months off the market it was put back on in October with a suntan, all oiled up and ready to flip.

The bread has been sitting there waiting for four months for someone to devour it and is now well and truly stale.

Now they are getting cooked…

M43BC

4855 Collingwood st,Vancouver

Paid 2.6 April 2017 asking 2.79

https://www.zolo.ca/vancouver-real-estate/4855-collingwood-street

Feel free to make a donation.

Flop For Fox Fund…

http://www.terryfox.org/get-involved/ways-to-give/

#46 Andrew Woburn on 01.24.18 at 6:51 pm

This blew my mind. If you are a fan of emerging markets, read this.

– “In 1950, the average African had almost twice as much income as the average Asian.”

– “(sub-Saharan Africa is larger than China, the US, and India combined),”

– The recent history of the global economy, in one chart

https://qz.com/1183308/the-economic-reversal-of-asia-and-africa-in-one-striking-chart/

#47 Stan Brooks on 01.24.18 at 6:54 pm

#40 Ray Skunk on 01.24.18 at 6:36 pm
Forget the money, everyone is missing the point here.

A Mattamy pressed-cornflake identikit shoebox in WHITBY?

Imagine your life turned out so badly you ended up plumping for the President’s Choice version of Milton.

How utterly ghastly.

If that’s what my life came to, I’d sooner be dead.

————————

You don’t understand.

Whitby and Milton are the new Beverly Hills and Malibu
of the great white north.

Now even Jane and Finch is a ‘good’ location.

===========================

As for Businesses closing in Canada – it is though place and it requires special skills to run successful business or numbered companies here – like the skills that wild bill and T2 have.

#48 Stan Brooks on 01.24.18 at 6:56 pm

#43 Andrew Woburn on 01.24.18 at 6:40 pm
Why a sharply lower Canadian dollar appears to be on the horizon

https://www.theglobeandmail.com/globe-investor/inside-the-market/bond-market-forecasts-indicate-a-sharply-lower-loonie-is-on-the-horizon/article37710919/

===================

I always wondering who would give anything (even a rat’s ass) for a currency with the name Poloz on it.

#49 Jean on 01.24.18 at 6:58 pm

Astrid and Sheldon were already HGTV stars on an episode of income vacation properties who were “financially stretched” and had to renovate immediately to “keep their dream alive”. Ouch!

http://www.hgtv.ca/shows/income-property-on-vacation/videos/astrid-sheldon-666871875734/#incomepropertyonvacation/video

#50 Hugh Janus on 01.24.18 at 6:59 pm

Good for the builder for making a buck. Sucking in the newbs and making them pay. Thats what its all about. These guys are in business to make money.

These two newbs are the epitome of the greater fools. Looks good on them as they both appear dumber than a sack of hammer handles. I bet mom is proud of her “little johnnie” now. Hopefully she coughed up the 20% or more on this killer deal! I bet they were planning on being investors too!

This story brings some hard truth to the old saying; “a fool and their money are soon parted”.

#51 Screwed Canadian Boomer living in Costa Rica on 01.24.18 at 6:59 pm

Wow! The entitlement from these Millennial’s, especially from females age 25 to 41.

So if I purchase stock from (Ryan Lewenza) for 1.00 or from Garth for 1.00 plus a 25lb sack of dog food, and the stock decreases in value after 50 years, does that make sense to blame anyone except myself?

#52 Commitment on 01.24.18 at 6:59 pm

All I know is that renters are pathetic people who don’t build communities. A community requires commitment. Owning a home is a sign of commitment. If I find out someone is a renter during the hiring process, it usually signals the end their hiring process. Bums need not apply.

#53 Jean on 01.24.18 at 7:02 pm

Re Astrid and Sheldon, they also had to go to the “bank of daddy” to finance their renovations.

#54 Kool Aid on 01.24.18 at 7:04 pm

Add to the current GTA RE price slide a botched NAFTA deal, the potential for additional price erosion is real.

Bond prices rise 1% from here, recession will be swift and painful, good luck to the patient buyers.

#55 Screwed Canadian Boomer living in Costa Rica on 01.24.18 at 7:05 pm

@mark: “And because the economy is slowing and jobs are drying up, even obtaining those more valuable CAD$ is becoming an increasingly expensive and difficult proposition.”

Will someone teach an old geezer like me how a recession in Canada calculates into a higher currency? I know that in the Great Recession, US dollars were scarce, but if that is the case in Canada (I’m enjoying life with sunshine and pleasant women in Costa Rica), then that’s odd because when Canada had a recession in 2002, the Loonie sunk to 61.7 cents.

Recessions tend to scare away foreign capital from purchasing Canadian dollars. If you’re referring to discount sales and Mark (no pun intended) downs on businesses in debt, then that’s a probability, but by then the Canadian dollar will sink to 70 or 60 cents, leading to Inflation that Poloz will refuse to acknowledge. I’m sure glad that I got out of Canada with an 89 cent Loonie a few years ago. US dollars is the reserve currency of the world, not Canadian dollars or Yuan.

#56 DON on 01.24.18 at 7:05 pm

#36 Blessed Canadian Millenial on 01.24.18 at 6:31 pm
Smoking Man on 01.24.18 at 9:53 am
#190 81 cent CAD and rising Canadian Millenial on 01.24.18 at 8:52 am
BANNED, with no further acknowledgments
……

Garth is giving you a free lesson on communism. Free speech is the first thing to go. See how that drives you nuts.
How do you think conservative modorate voices feel when they are getting silenced by Twitter, YouTube, and Facebook.

Extreme voices weather ying or yang should not be tolerated.

Chill out.

———-

Precisely, and well said.

Don’t forget to add “Google” in the mix as they tend to display news that are very left-leaning.

On one hand, I actually feel bad for SCM and a lot of the millenials given how ill- and under-informed they are.

Anyone 25 who doesn’t vote Liberal, has no heart. Anyone 35 who doesn’t vote Conservative, has no brains.
***************

And anyone that allows a politician or political party to divide and conquer is a fool! We are all in this together.

#57 Willy H on 01.24.18 at 7:05 pm

“The company has made a small concession ($30,000) but the jilted buyers of 2017 are still deeply offended.”

___ ___ ___ ___

LOL – There was a time, not so long ago, when $30K was a healthy down-payment on reasonably priced detached home. Now, $30K is teeny tiny concession on an overpriced shoe-box with a postage stamp back-yard on a car-packed street with garage doors facing each other for as far as the eye can see.

#58 Chico on 01.24.18 at 7:11 pm

I love you “banned!” You are my hero.

#59 D C on 01.24.18 at 7:13 pm

How will these people qualify for high-ratio mortgages? Banks would potentially be at risk of giving out loans worth more than the property value. Will there be en-masse appraisals? Will buyers have to pony up the difference in value?

#60 Victor V on 01.24.18 at 7:13 pm

These Whitby greater fools are not getting any support on CBC’s facebook page:

https://www.facebook.com/CBCToronto/posts/1441030696001480

#61 Ardy on 01.24.18 at 7:13 pm

Isn’t this how everything is evaluated….. In the court of public opinion. Bit*h on social media or other public forum/MSM about being a victim and hope someone either takes up your cause, or you get momentum from the herd to cause a stampede.

I just hope they stampede straight into lake Ontario.

#62 will on 01.24.18 at 7:13 pm

shit show. can’t care. sscc.

#63 Mike on 01.24.18 at 7:14 pm

When is that happening in GVR???

#64 mathman on 01.24.18 at 7:17 pm

Amazing article!

So the shares I bought of the numerous stocks over my investing life that are worth less than I bought them, who do I complain to get my fair compensation. Why should someone be able to buy them for less than I paid, even though that is the fair value the market is placing on them. Or the horror, I’m crying a river of tears for these poor hard done by people!

I’m so upset I can’t finish my comment.

Math

#65 AK on 01.24.18 at 7:18 pm

“Apparently real estate sometimes goes down. Who knew?”
——————————————————————

ROTFLMFAO

Sorry about that.

#66 Bytor the Snow Dog on 01.24.18 at 7:19 pm

Does Astrid have an Aunt Esther? Handsome woman.

#67 Spelling is hard on 01.24.18 at 7:20 pm

#15 Oakville sucks
The couple sounds like wining couple.

Wining? As in drinking vin du Bordeaux?

I wouldn’t call them winning either. Maybe whining?

#68 Oakville Owner on 01.24.18 at 7:21 pm

Timing of all this couldn’t be more perfect! 2.54% mortgage is locked in till Nov 2020 and my better half agreed that the small balance shall be paid off by renewal time. Will continue to invest in our balanced portfolio and then do some real serious investing with the additional cash flow that is not going to a mortgage that would be renewed at a much higher rate. If the market does tank it will be the perfect time to vulch on a smaller town home or condo for retirement well down the road. Rent the place out until then and sell the family home when the market returns. Ride my bike in Florida, Arizona or Costa Rica all winter while Raymond James sends the interest on the portfolio and OMERS deposits the monthly cheque.

#69 DON on 01.24.18 at 7:24 pm

As for over paying for particle board – I agree we are not all in this together.

Even the Boomers over extended (not all – but a good percentage). Have a friend that is selling in Victoria, mortgage too big and wants to retire soon. Sell house now while the going is good and rent or her will get out of dodge. He has a good paying job as well and so does his spouse.

Maybe Rexx Rock can handle the sale?

#70 Samuel on 01.24.18 at 7:30 pm

Just wait until they get their bank appraisal. And interest rate shock in 2019. Developer is only offering the $30k off with increase in deposit. Smart. They anticipate buyers won’t close.

#71 Randy on 01.24.18 at 7:35 pm

I own a great property but I’m hoping to pick up a really nice late model Corvette later this year….

#72 MPAC on 01.24.18 at 7:36 pm

Update from Toronto:

Just left a meeting with my banker @ CIBC; while making small talk, I asked him if he was busy and he said yes, very busy. He mentioned that the majority of his mortgage approvals are being rejected because of the new stress test. Mostly people trying to purchase a second property or a straight refinance he said.

Very interesting…..

#73 Maybe on 01.24.18 at 7:37 pm

Re: #45 Jean on 01.24.18 at 6:58 pm
Astrid and Sheldon were already HGTV stars

OMG it is that! I guess they are used to having others bail them out of property messes.

#74 Nonplused on 01.24.18 at 7:40 pm

This is all so childish. Of course a company that can’t make sales immediately slashes it’s profit margin. We saw this big time in the O&G service sector (what they call the companies that actually drill and complete the oil wells, very few O&G companies do this themselves). When the oil price collapsed margins in the service sector went from 30% to negative, just to keep busy.

Yesterday I was at Costco and a particular brand of precooked frozen ribs we are quite fond of was $4 off! What a deal! I bought 4. But did you see me griping about the fact I had paid more for the ribs in the past?

Or how about all those fools who are buying 2018 cars right now? Everyone knows you will save 10% or more if you wait until after August on the same car! Unless you decide you have to have a 2019 at that point but that is stupid.

It’s economics 101 folks. Prices on the margin go up and down to balance supply and demand. When prices rise, and this is for anything so get it through your heads $15 dollar people, demand falls and supply rises. When prices fall, demand goes up and supply falls. Eventually an equilibrium is established but it can take many years.

Let’s say Garth had a “free ice cream day” at his store. If he did it on the weekend he would have record numbers and probably huge line ups. Then, let’s say on the following weekend he had a “double the price” day. Crickets. No point even opening.

So of course when Mattamy has a line up every time they put a house up for sale, they will raise margins and make some money. After all, that is why they are in business. It’s not some altruistic goal of providing people houses, they intend to make money. But when the houses stop selling they have to get rid of inventory and recover what they can. They are smart to cut prices rather than offer a free tree. They’ll get rid of more inventory than the other guys.

And they aren’t doing this to be mean. They have to get rid of the inventory or they won’t be able to meet financing.

#75 IHCTD9 on 01.24.18 at 7:40 pm

#10 Tbone on 01.24.18 at 5:42 pm
Joe Pesci would of got all his money back ,
Remember him in Casino talking to the banker that lost his money , lol.
———

You listen to me you fat Irish #####, you put my money to sleep, I’ll put your ####### brain to sleep!

I miss Pesci.

#76 ImGonnaBeSick on 01.24.18 at 7:41 pm

Haha! Astrid and Sheldon. I bet they have gluten allergies too.

#77 M-F on 01.24.18 at 7:42 pm

The big problem here is not that the price went down. The big issue is going to be that, come closing time, they will be unable to get financing on their original purchase price because the assessment will be much lower than their contract price. So then, they will lose their deposit, or have to come up with more cash (unlikely) , or the builder will have to lower the price to match the financing assessment. But in any case, that is when the real pain starts for all concerned – because deals will not complete and further force down prices in that neighborhood…. this is exactly what happened in the US after 2008. So there will be houses in phase 1 that are completely finished and not sold, building on future phases will be put on hold, or completed due to sunk builder costs…. it is a grim scenario in any case.

#78 Willy H on 01.24.18 at 7:44 pm

#32 Dead Cat Bounce

We are ALL in this together … like it or not
___ ___ ___ ___ ___

Other posters appear to disagree with you.

They are dead wrong.

If this is the housing bust we have all been waiting for on this blog. There will be a reckoning.

The social costs of a housing bust will have a major impact on communities, households, marriages, health care, crime and related businesses. There will be job losses and restructuring of the entire industry from realtors to electricians. Not sure we can fully measure the full economic impact.

Tax payers will be on the hook one way or another for much of what is mentioned above. They won’t bear the full burden, but they will be affected sooner or later.

Canada’s GDP is skewed by real estate (vs a normal Western democracy) as this blog has stated many-a-time. There will be economic blow-back!

#79 ETFingGoodTime on 01.24.18 at 7:44 pm

#29 GF Virgin on 01.24.18 at 6:15 pm

I learned all of my financial literacy on here, so I shall pay it forward.

Sign up to Questrade. It basically costs zero to buy shares, so you can top up monthly easy peasy. I have auto-payments setup, straight to my TFSA. Then you can buy ETF shares each month, essentially rebalancing monthly without selling. It’s a more hands on approach, but that’s my style. Some do that every quarter, but I don’t want cash just sitting there.

To start:

XIC Canadian equity
XUU S&P and all Cap US
XEF Europe, Japan, Asia
XEC Emerging Markets
HPR Preferred Shares
XSQ Short Term Bonds

how you allocate depends on your risk tolerance, so I’ll leave that up to you, but this should give you a good jumping off point. I have more thematic stuff on top of my core, but that’s a whole ‘nother ball of wax.

#80 IHCTD9 on 01.24.18 at 7:46 pm

#13 Zapstrap on 01.24.18 at 5:44 pm
Sooner or later we are ALL going to suffer over this. One way or another. We are ALL in this together … like it or not
———-

Bunk.

I’m not in it. I’m fine if housing drops, rates rise or my job disappears. I didn’t bury myself in debt, and invested instead.

I do feel it is high time for some suffering though. The sooner the pain is brought, the sooner we collectively gain back some of the wisdom we’ve lost – or never had to begin with.

#81 Frustrated Kiwi on 01.24.18 at 7:49 pm

#52 Commitment
Umm, you do know that, last heard, Garth rents his city pad (for way less than it would cost to own)? You may want to rethink your hiring strategy.

#82 Spock on 01.24.18 at 7:55 pm

What would motivate someone to come out and show the world (along with current and future employer) what a low IQ moron one is.

Cannot understand that price can go down. Asking phase 2 buyers to respect them because they bought when it was dirt.

What kind of fools are allowed to borrow $500K?

—————————-
#5 waiting on the westcoast on 01.24.18 at 5:31 pm
“To come back a year later and see the same house that we bought is now $90,000 cheaper, that’s not cool,” says a buyer who cannot understand why her unbuilt house cost more last year than an unbuilt house in the same subdivision, sold by the same developer now.

#83 MaxBerniersShorts on 01.24.18 at 7:57 pm

Who was quoting that car sales in BC were “crashing”? Not according to this:
https://www.biv.com/article/2018/1/sales-new-vehicles-drive-bc-retail-gains/

#84 Ian on 01.24.18 at 7:57 pm

It’s been a 21 year bull market in the GTA in housing. 21 years!

Most people can’t even understand why a US stock market that goes up for eight years just might be an anomaly and a problem. How would they understand GTA real estate?

Many entities are at fault. The libertarian in me says markets will sort all this shit out and lawnmower a lot of people, but that’s what’s needed for efficiency.

The part of me that believes in consumer protection says why did Ontario, and the Feds, wait until 21 years into a bull market to do something about this? Why is no one calling out the banks for being a bunch of idiotic zombies with zero leadership who kept lending indiscriminately to people who didn’t know better?

The two main lessons as I see it are 1) no leadership at the banks, moral hazard where the execs are on a two-sided coin that says heads I get paid $25mln a year, tails the taxpayer bails us out. They can never, ever be trusted. I’ve worked at three. They are evil, soul-destroying machines and should pay the public pool $20b more per year. And that’s from a hardcore UltraBlue Conservative! Not SCM lol.

2) people need to learn about personal finance when they are 12, not 41. Show me an education minister anywhere in this country who believes kids should be warned about debt dangers?

Ian out – mic drop

#85 Ronaldo on 01.24.18 at 7:57 pm

#52 Commitment on 01.24.18 at 6:59 pm

All I know is that renters are pathetic people who don’t build communities. A community requires commitment. Owning a home is a sign of commitment. If I find out someone is a renter during the hiring process, it usually signals the end their hiring process. Bums need not apply.
————————————————————–
Unbelievable!

#86 ben on 01.24.18 at 7:59 pm

Well you can’t get clearer than that Garth. The fall in price is down, entirely, to the cost of land.

Land value tax would tax the *unimproved* value of the land, thereby not discouraging efficient use (building up).

#87 paul on 01.24.18 at 8:02 pm

70 Samuel on 01.24.18 at 7:30 pm

Just wait until they get their bank appraisal. And interest rate shock in 2019. Developer is only offering the $30k off with increase in deposit. Smart. They anticipate buyers won’t close.
—————————————————————–
Just wait until the house does not appraise and their down payment is short and they need to come up with $60,000 or so.

#88 KLNR on 01.24.18 at 8:03 pm

@#44 Stone on 01.24.18 at 6:42 pm
#32 Dead Cat Bounce on 01.24.18 at 6:22 pm
Lucky # 13 Zapstrap
Sooner or later we are ALL going to suffer over this. One way or another. We are ALL in this together … like it or not.
—————————————————————–
Truth !
———-
False !

Please replace ALL with “foaming at the mouth FOMO sheeple”. We will not ALL suffer. Only they will.
Please stick to facts, not truths.
___________

Nah, there’s some truth to it.
If the economy tanks as large as some think, only folks with absolutely nothing to lose will come out unscathed.

#89 Adrian on 01.24.18 at 8:03 pm

#44 Stone on 01.24.18 at 6:42 pm

“We will not ALL suffer. Only they will.”

*****

They may be the first to suffer, or the ones who suffer the most, but everybody loses when the economy tanks because Canadians – in the aggregate – stop borrowing.

“The peaks in Canada’s credit gap occurred in 1979, 1991, 2009 and 2016. It is noteworthy that Canada’s latest three credit gaps all exceeded the peak levels seen in the US in 1987 and 2007.

“The peak in 1979 was a precursor to the deep 1981-82 recession. The peak in 1991 followed shortly after a peak in housing prices amid the 1990-91 recession. The peak in 2009, as in 1991, came amid another recession in 2008-09.

“The apparent peak in 2016, the biggest credit gap ever recorded for Canada, looks to be a precursor to another peak in housing prices which is unfolding as we watch in 2017.”

http://tcglobalmacro.blogspot.ca/2017/10/canadas-credit-cycle-downturn-is-coming.html

#90 acdel on 01.24.18 at 8:06 pm

#58 Chico

I think her cousin posted on Comment 52; or perhaps you are her brother,lol, kidding aside, love the pic of the expression on their faces.

It’s not that we/they want to rub it in your/their faces; have some (minimal) respect and appreciation of the many of the posters that have gone through hell and back, learned and now are trying to teach you something. Believe or not; for the most part, they are looking after your best interest! Wise up!!

Please do not be like this snow flake that ruins it for the rest of you, perception wise. I have worked with many that have there head screwed on properly but this one is not to follow.

http://www.dailymail.co.uk/news/article-5306109/LAPD-cop-filmed-dragging-woman-train-feet-seat.html

#91 common sense on 01.24.18 at 8:07 pm

Just got home and read the S & P had a DOWN day today of .06 %…

How do they let this major loss happen?

#92 millmech on 01.24.18 at 8:14 pm

#52 Commitment
Its not that, the reason you do not hire renters is they can leave at a moments notice when you treat them like dirt. A bank renter(homeowner) can not leave the job unless he has another one, renter can quit and find another job or move, the homeowner is a (financial) slave, that is why you hire them.

#93 noMercy on 01.24.18 at 8:16 pm

Treat it like a freakin stock market

They bought the future last years so suck it up
you lost. Don’t cry to me and don’t expect anyone to bail you out.

Buy a tent and start a city.

#94 Old Salt on 01.24.18 at 8:20 pm

Maybe these people need to use the information age for more than facebook and twitter… There has been a ton of information about the risks of the housing market. Ample to assess the potential upside and downside before deciding to buy.

The builder has to manage their own risks too. They still have carrying costs on the undeveloped lots and low construction rates likely reduce efficiency.

#95 TurnerNation on 01.24.18 at 8:31 pm

I have sinned :(
Found myself after work with friends at a chain (not Cara!) restaurant for a ‘$30 burger ‘n beer’.

My atonation will involve reciting The Stations of the Balanced Portfolio and making 10 posts on this authentic locavore cold-pressed artisnal weblog.

#96 acdel on 01.24.18 at 8:32 pm

https://globalnews.ca/news/3979871/davos-wef-economy-rich-shops-afford-meal/

Hey, if you earned it on your own then no complaints from me, enjoy; when us tax payers are paying for this; no wonder the world is the way it is… This needs to end!!

#97 crowdedelevatorfartz on 01.24.18 at 8:33 pm

@#58 Chico
“I love you “banned!” You are my hero.”
++++++

ladies and gentlemen, would you please welcome that Millenial version of a 70’s hit TV show.

Chico and the Banned

https://www.google.ca/url?url=https://www.letssingit.com/jos%25C3%25A9-feliciano-lyrics-chico-and-the-man-kss6qxd&rct=j&frm=1&q=&esrc=s&sa=U&ved=0ahUKEwjdma-W_PHYAhUDwmMKHZv4DvUQFggUMAA&usg=AOvVaw1AK28Id5MTEq7O17fEyNfA

#98 Doug t on 01.24.18 at 8:43 pm

Gosh golly gee – imagine if we went to war and the country introduced conscription – gosh golly gee imagine if we were to go into a recession not seen by a certain age group before – gosh golly gee imagine if ma and pa actually said ” hey your on your own just like how we started out” – gosh golly gee who new that debt actually has to be paid back – gosh life is hard and not fair
LMAO WTF OMG

RATM

#99 tccontrarian on 01.24.18 at 8:55 pm

“And so it starts.

Rising mortgage rates. The stress test. Falling prices. And lower valuations for everyone who was insane enough to jump into a market at its peak, believing it would ascend forever. Today’s generation of first-time buyers has never experienced a falling market. Never borrowed a mortgage at 5%, let alone 8%. Never seen a property grow illiquid. Never felt trapped in real estate that could not be sold. Never faced a loan renewal at a higher rate. And never seen houses go for less this year than the last.” – GT
———————————————————–
Or simply:

“Good decisions come from experience; experience comes from making bad decisions” – Mark Twain

TCC

#100 Invesrx on 01.24.18 at 8:57 pm

These entitled millennials are in for a shock!

#101 mathman on 01.24.18 at 9:05 pm

Watched the HGTV video of these winners. The only person I feel bad for is their parents that have given them the money. Couple in their 30’s borrow money from their parents to renovate a cottage they stretched to buy…tells you pretty much all you need to know.

Multiply this couple by a few hundred thousand and you have one of the reasons there is a massive dispersion between income and house prices … they love to fish, just had to have it!!

Math

#102 Ardy on 01.24.18 at 9:10 pm

Dog video link: http://www.liveleak.com/view?i=47c_1516791301 (SFW)

Which mammal is Mr. Turner and which one is banned SCM the seconds before the latter was rightfully banned.

#103 Hugh G. Rection on 01.24.18 at 9:14 pm

#52 Commitment on 01.24.18 at 6:59 pm
“…… If I find out someone is a renter during the hiring process, it usually signals the end their hiring process…..”

Interesting.

I have never had anyone even try to work this question into the interview process.

Nor have I when I was trying to vet candidates.

I guess it’s because most hiring managers give more of a shit about figuring out whether a candidate can do the job for the next two years or so.

#104 Steve on 01.24.18 at 9:17 pm

#52
Nauseating.

#105 For those about to flop... on 01.24.18 at 9:20 pm

Recent Sale Report.

This relatively affordable option in Vancouver just got a new owner.

3586 Franklin st,Vancouver.

Asking 1.25

Just sold for 1.23

2017 tax assessment 1.50

Couldn’t get ask,couldn’t get assessed ,but they got out and now it’s someone else’s mess…

M43BC

https://www.zolo.ca/vancouver-real-estate/3586-franklin-street

Feel free to make a donation.

Flop For Fox Fund…

http://www.terryfox.org/get-involved/ways-to-give/

#106 Fiendish Thingy on 01.24.18 at 9:25 pm

Hey Garth,
If you have the data, could you do a blog on patsies who bought condo pre sales intending to flip/reassign the contracts prior to getting the keys on the finished product.

These saps got to qualify for financing at 2%, but now the greater fools they hoped to flip the contracts to have to qualify at 5%+…your thoughts?

#107 Fake News Again on 01.24.18 at 9:26 pm

#144 Fake News Again on 01.23.18 at 11:26 pm
#122 Mark on 01.23.18 at 9:59 pm
“There are tons of safe, discreet places to park money in Canada. Vancouver is not one of them.”

Yes. That’s why the concocted meme of “Chinese” money (or alternatively, “Persian” money, “Arab” money, etc.) is so disgusting. Not only is it a complete falsehood, but it is profoundly insulting to those of those particular nationalities or ethnicities to suggest that they’re blindly piling into some of the most expensive assets in the world. Its racism of the most disgusting and divisive kind, preying on the insecurities of some Canadians, and the sheer ignorance of others as to the evolving demographic composition of Canada’s major cities.

Anyone who cares to study the statistics can see, in plain view, that there is little to no foreign participation or ‘money’ in Canada’s RE marketplace.

_______

Hey Mark……do you LIVE in Greater Vancouver?

__________

Hey Mark….the expert……still waiting for you to answer the question to all of us that LIVE in Greater Vancouver if you live here. If not….stop acting like such an expert in an area you know nothing about.

#108 acdel on 01.24.18 at 9:27 pm

#95 TurnerNation

Hey, if it’s your money, do what you want, I could care less. enjoy, buy two burgers and numerous beers; helps out the economy, please sin some more!

#109 Smoking Man on 01.24.18 at 9:28 pm

Prime Minister Justin Trudeau sent a strong message to the global super rich on Tuesday that Canada won’t be slashing taxes and regulatory red tape to compete with Donald Trump’s America.

In an keynote speech to the World Economic Forum, Mr. Trudeau called on corporate chief executives to put workers before profits and take major steps to boost the role of women in the work force and tackle sexual harassment.

“Too many corporations have put the pursuit of profit before the well-being of their workers … but that approach won’t cut it any more,” Mr. Trudeau told the elite gathering at the chic ski resort of Davos. “We are in a new age of doing business – you need to give back.”
………

Bahaha. So clueless. If a CEO says to his share holders soory I need to cut your dividend because girly man asked me too share more of the profit.

I’ll show you a CEO who gets FIRED Fast.

Trump cuts taxes and workers get the windfall.

T2 No concept of economics. No new investment in Canada and an exidouse of companies going to USA.

#110 Josh on 01.24.18 at 9:28 pm

I love to fish and bought a boat for $300…Have caught a hell of a lot more fish bigger than the sun fish that they did.

#111 toronto1 on 01.24.18 at 9:30 pm

why is this news? there are all kinds of examples in the north burbs- Newmarket- Aurora- Richmond hill-vaughan of houses selling for substantially less then the peak-.

the fact that CBC even ran the piece is interesting……. this is what starts negative sentiment and its just as powerful if not more so then the euphoria of last year

soon more examples emerge, more and more people applying for mortgages or refi get denied word gets out and people stop buying………..

#112 alfred on 01.24.18 at 9:32 pm

Great post Garth, thank you

So, what would be the smartest move to those who bought at the wrong time?
Bankruptcy?
I cannot pay, period, please take the keys.

This move will leave them without 1M debt and thousands of dollars to pay to Mom. and they can follow your advise and find a rent.

Is that possible Garth?

#113 OttawaMike on 01.24.18 at 9:33 pm

That couple should market themselves like “Grump the cat”.
They could easily makeup the shortfall in promotional deals:
https://www.bbc.com/news/amp/world-us-canada-42808521

Reminds me of Tim Horton’s owners — input costs for flour and coffee go up, not a peep. Minimum wage goes up — they publicly execute their employees.

#114 mathman on 01.24.18 at 9:33 pm

#52 Commitment – I’ll take it you have never been the keynote speaker at a Mensa convention. I’ll also bet your a realtor trying to stir up some emotions so people come out and buy.

There are places all over the world where succesful people rent for a multitude of reasons – the idea that renting is bad, and throwing away money is relator speak that innumerate people in this country have adopted to be true for years without thinking about the statements for more than a second.

If you can handle a book with greater than two syllable words, I would encourage you to read the wealthy renter – an honest, logical look at the benefits of renting vs. owning.

Keep on believing, everyone is entitled to their opinion.

Math

#115 TheDood on 01.24.18 at 9:37 pm

#52 Commitment on 01.24.18 at 6:59 pm
All I know is that renters are pathetic people who don’t build communities. A community requires commitment. Owning a home is a sign of commitment. If I find out someone is a renter during the hiring process, it usually signals the end their hiring process. Bums need not apply.
_————————

What your really telling the candidate is you won’t hire them unless they’re as dumb as you. Smart people need not apply. Lol!

#116 Terry on 01.24.18 at 9:38 pm

“Not Cool” …………… on another topic ………….. Canada signing onto TPP …………. A Big Monumental Mistake For All Of Canada! How much more damage can the Liberals do? Bye bye NAFTA ………….. Bye bye to even more jobs leaving Canada again! I guess Canadian trade negotiators can’t compete with Yankee Traders as they continue to run scared trying to sign onto a trade agreement, Any Trade Agreement no matter how harmful it will be to make up for losing NAFTA!

#117 Tim Free Since 03 on 01.24.18 at 9:42 pm

In 2003 I started a boycott of Tim’s. I haven’t spent spent a dime in one of their establishments since (that’s 15 years folks). Anyway, the principal is that I refuse to buy into the herd mentality. Some idiot buys a house that has not been built yet and whines that another house that has not been built yet is selling for less than their house that has not been built yet beggars belief. I fear for the country.

#118 Howard on 01.24.18 at 9:43 pm

“To come back a year later and see the same house that we bought is now $90,000 cheaper, that’s not cool,” says a buyer who cannot understand why her unbuilt house cost more last year than an unbuilt house in the same subdivision, sold by the same developer now.

———————

There is little doubt that this person voted for the T2 party in the last election.

She will now demand a bailout and that the government “do something” so that her house’s value never declines.

#119 Mark on 01.24.18 at 9:44 pm

“Hey Mark….the expert……still waiting for you to answer the question to all of us that LIVE in Greater Vancouver if you live here.”

Answer me this, every ‘foreigner’ you see buying RE in Vancouver, do you walk up to them and ask to see their passport? Or do you just, as unfortunately many Canadians do, ‘assume’ that they’re foreign because they might be of a certain ethnicity, assume that they are buying with ‘foreign money’?

Anyways, I am in Vancouver a few times a year, I do not live there. And the macroeconomic data provides strong support to the fact that there is no statistically meaningful flow of offshore money into Canadian RE. Foreign direct investment into Canada is perfectly and fully accounted for with FDI statistics in various industries. And there is little to no evidence to substantiate the concept of illicit funds flow.

In fact, Canadian dollars are in such demand overseas that as reserve assets that Canadian dollars exported offshore are not only not coming back to Canada to buy RE, but are being taken up by foreign central banks. This can be further seen in foreign reserve accumulations that exceed Canada’s annual trade deficits. So evidence more strongly points to outflows, foreign investment by Canadian entities on the net, rather than the opposite.

#120 Bottoms_Up on 01.24.18 at 9:46 pm

#109 Tickle Me Elmo on 01.23.18 at 9:24 pm
—————————————
News reporting can clearly be unbiased with no opinion or interpretation. Things such as ‘there was a tsunami warning in BC this week’ or Ontario has raised the minimum wage to $14 per hour.

Real news has nothing to do with someone’s beliefs or interpretation.

#121 paul on 01.24.18 at 9:47 pm

06 Fiendish Thingy on 01.24.18 at 9:25 pm

Hey Garth,
If you have the data, could you do a blog on patsies who bought condo pre sales intending to flip/reassign the contracts prior to getting the keys on the finished product.

These saps got to qualify for financing at 2%, but now the greater fools they hoped to flip the contracts to have to qualify at 5%+…your thoughts?
—————————————————————–
I’ll give you a thought these patsies as you call them are people trying to participate in a market not created by them to maybe get a place to live. Sounds like you have been the stooge that sat on his hands. while others have made out quite well over the last number of years. You want to see anyone have a problem to justify your inaction and loss!!

#122 Nick on 01.24.18 at 9:49 pm

My lord these people are stupid

Greater fools indeed

#123 Welcome to Slurrey on 01.24.18 at 9:54 pm

There comes a point at which people can’t afford houses. In Toronto, it could be here…………… already here in YVR, people are still buying

#124 Canadian in Oz on 01.24.18 at 9:55 pm

Canada is too hard on Millenials

The Australian way is to use tax payer $ to give us poor millenials a break and keep the housing bubble nice and inflated.

https://www.domain.com.au/news/victorian-government-to-copurchase-houses-with-400-firsthome-buyers-20180124-h0no16/

Nice work Australia. Keep the ponzi going

#125 Leo Trollstoy on 01.24.18 at 9:59 pm

Canada is awesome.

Our economy is booming. Employees will need to step up their game! Especially in tech!

Go Canada Go!

https://www.theglobeandmail.com/report-on-business/small-business/talent/employers-who-dont-realize-the-job-market-has-changed-are-in-for-a-nasty-surprise/article37681562/

#126 45north on 01.24.18 at 10:01 pm

As a result, sales have plunged.

As 2017 ended, that was obvious to everyone. In all of the six-million-plus GTA, just 322 new single-family dwellings were sold. That was down a shocking 82% from year-before levels, and 76% below the 10-year average. In fact it was the lowest recorded number. Ever.

“the lowest recorded number. Ever”

just to understand: suppose last year there were 1500 sales, this year there’s 300 so 1500 – 300 = 1200 which is 80% of 1500

“in all of the GTA” – this is not good

if you didn’t sell your house last year you’re not going to sell it this year – unless you can

#127 ShawnG in TO on 01.24.18 at 10:02 pm

i like Astrid and Sheldon already.

yup, just google, they are tv “stars”, and house business owners. funny they are whining

Garth, can you please keep a tab on them from time to time? just like the housing deathwatch feature.

i need more corn kernels

#128 Pete on 01.24.18 at 10:04 pm

Breaking news.

CONservatives lost the provincial ELECTIONS. BAhahahahahhaaha. See you in four years

#129 Danny on 01.24.18 at 10:04 pm

The drop in real estate prices as you say will be happening overall probably the next 3 years and maybe more.

So how far back will developers like MATTAMY have to go back to deal with the new lower price adjustments and drop in demand ? They will need to relate to the market as it unfolds.

Remember the building industry always argues that real estate is like any market……and government should stay out.

Would anyone expect the stocks people buy to retroactively match a current day value. Definitely not. So why real estate?

There is a new townhouse development that sold homes at $700,000 a year ago and after one year the price was $950,000 in Etobicoke. Probably about 300 townhouses.

Now will the ones who bought later when they find out about the earlier lower price by $250,000 want a role back.

Sales of goods just don’t work that way……buyer beware….the market will always find its new level.

Other builders more stingy than MATTAMY will do the same……
House are not sold on the material and labor costs….only the dollar amount that people will pay for it.
The ones who buy the houses are the ones who really set the housing prices.

Too bad more people don’t read your blog Garth….and the press doesn’t talk with you enough.

#130 Pete on 01.24.18 at 10:07 pm

http://www.cbc.ca/1.4502883

#131 Linda on 01.24.18 at 10:11 pm

Those Mattamy purchasers are lucky Mattamy was willing to concede even $30,000. Housing is a commodity, just like any other though it is a major expense compared to most. Just because you bought at price X does not entitle you to price Y. It is the same as if you bought a new car & the dealer puts the same make/model on sale a month after you purchased. The dealer isn’t going to refund you the price difference the next time you drop by the dealership. How can these folks be the age they are & not understand that life isn’t ‘fair’? Does it suck to have paid too much? Sure – but no one forced you to buy. Caveat emptor has been around for a long time for a very good reason.

#132 dr. talc on 01.24.18 at 10:11 pm

the celebrity sexual harassment accusations are fake,
T2 is just another messenger of the psy-op
2 reasons:
1) to demonize Type A (aggressive ie normal) male behavior
2) to provide an easy way for corporations, governments, banks, military, media (remember Jian Ghomeshi?) etc. to fire anyone easily without the nuisance of explanations, severance packages, etc

#133 Bottoms_Up on 01.24.18 at 10:12 pm

#80 IHCTD9 on 01.24.18 at 7:46 pm
————————–
Yes, we are all in this together.

If housing melts down, the economy will suffer. Unemployment goes up. Taxes go up. Crime goes up. These things affect you.

#134 Howard on 01.24.18 at 10:14 pm

#128 Pete on 01.24.18 at 10:04 pm
Breaking news.

CONservatives lost the provincial ELECTIONS. BAhahahahahhaaha. See you in four years

—————————

Breaking news. Latest Forum poll shows PC 43, Lib 24.

#135 Bottoms_Up on 01.24.18 at 10:16 pm

https://mattamyhomes.com/gta/communities/whitby-queens-common.aspx

Ok, mattamy homes whitby cost 530k (town) and 630k (single), pretax. Essentially need a household income of 200k to carry a townhouse (in whitby). sick

#136 GF Virgin on 01.24.18 at 10:26 pm

#79 ETFingGoodTime on 01.24.18 at 7:44 pm
_____________

Thank you for sharing!

#137 IHCTD9 on 01.24.18 at 10:30 pm

#88 KLNR on 01.24.18 at 8:03 pm
@#44 Stone on 01.24.18 at 6:42 pm
#32 Dead Cat Bounce on 01.24.18 at 6:22 pm
Lucky # 13 Zapstrap
Sooner or later we are ALL going to suffer over this. One way or another. We are ALL in this together … like it or not.
—————————————————————–
Truth !
———-
False !

Please replace ALL with “foaming at the mouth FOMO sheeple”. We will not ALL suffer. Only they will.
Please stick to facts, not truths.
___________

Nah, there’s some truth to it.
If the economy tanks as large as some think, only folks with absolutely nothing to lose will come out unscathed

————

I will be coming out unscathed. All bases covered. Virtually untouchable.

No, only those who did not keep themselves out of harms way, or are just starting out (feel bad for them) will get the pile driver.

#138 X on 01.24.18 at 10:30 pm

So funny, I am sure if the value of the home went up they would have wrote a cheque to Mattamy to share the profits with them. LOL.

They bought a year ago, it isn’t like they got a garden hose at Canadian tire last week and it is on sale now this week.

#139 Mark on 01.24.18 at 10:33 pm

“Our economy is booming. Employees will need to step up their game! Especially in tech!”

Sigh, that nonsense again?

A grand total of 1 job in the Computer/Software category on the BC engineering job board:

https://www.egbc.ca/Careers/Career-Listings?d=COMP&ps=25

Not much better in the Engineering Physics category which is also associated with high tech:

https://www.egbc.ca/Careers/Career-Listings?d=ENG&ps=25

And the communication category, which was once full of postings for Canada’s one existent telecom equipment industry is completely empty:

https://www.egbc.ca/Careers/Career-Listings?d=COMM&ps=25

Oh and let’s not forget the job board for the Computer Science types:

http://cipsresources.ca/jobs/

You can count the postings on a single hand.

If those prominent job boards, which have very high standards of conduct (ie: no fake/nonjobs, no spam, a nominal fee for posting, etc.) are empty of jobs, just where are all these jobs?

BTW, you can go to the EGBC board and see plenty in certain in-demand areas of engineering, such as civil, but to say that Canada’s ICT “high tech” sector is in demand is completely and utterly misleading. Being suck in a state of depression is a more accurate depiction. Even the people promoting Toronto’s Amazon bid have pointed out, with graphs, just how poor the tech job market has been in Toronto/Vancouver with graphs indicating just how low wages are for Canadian computer science talent.

#140 Sean on 01.24.18 at 10:35 pm

What happens if you default on a mortgage that has CMHC insurance? I know the bank is covered on the amount.

What happens to you? Do they take all your assets and you go bankrupt or…?

#141 IHCTD9 on 01.24.18 at 10:40 pm

#117 Tim Free Since 03 on 01.24.18 at 9:42 pm

In 2003 I started a boycott of Tim’s. I haven’t spent spent a dime in one of their establishments since (that’s 15 years folks).
————

I like it.

I’m doing the same thing to our governments. Well, as much as possible.

Canada needs more hard asses.

#142 acdel on 01.24.18 at 10:42 pm

Garth, not sure if this was posted above or before, but it looks like a few Calgarian’s are following your lead.

http://www.cbc.ca/news/canada/calgary/calgary-rent-vs-buy-road-ahead-1.4490332

#143 Where's The Money Guido? on 01.24.18 at 10:44 pm

DELETED

#144 Positions Available on 01.24.18 at 10:47 pm

Pandora’s Temporary Services is seeking an enthusiastic individual to lead the Ontario PC Party. Must be flexible and broad-minded (literally, not figuratively) and able to bring their own team. Applicant’s must be domiciled in the Province of Ontario (no renters, please). An equal opportunity employer.

#145 Pete on 01.24.18 at 10:50 pm

Conservatives are like rats on a sinking ship. How can anyone trust a party like this?

#146 Yuus bin Haad on 01.24.18 at 10:50 pm

I thought “F” was retired and hung in the rafters for eternal tribute.

#147 Ace Goodheart on 01.24.18 at 10:53 pm

A lot of folks now spend money like they just won the lottery and the world is ending tomorrow.

There was a time when you bought a car for life. People literally kept them forever. If you go to some small towns in Sweden, you will find Volvos that are 40 or 50 years old, still running and being driven daily. Now a car is something you drive for five years and throw away. Go visit a junk yard. I challenge you to find a vehicle there that is more than 10 years old.

If people want to buy things on credit, and then throw them away, then that is where we are at. It is like everyone has financial ADHD.

I do not think that house prices in either Toronto or Vancouver are going down. It is unfortunate that this blog was likely right in 2008 when the fearless leader started warning people about what was happening. It is unfortunate because, if you listened to him, you would have missed out on the largest opportunity for a massive capital gain that has ever presented itself to the middle class in the last 100 years at least.

People can stay irrational longer than you can stay solvent. That is reality. It drives markets, sets stock prices and can make you rich. It is really unfortunate, but it is the problem that you have to deal with when you are operating in markets that are driven by human nature.

The message here is not to eschew real estate but to avoid being enslaved by it – to have financial balance. As for your ‘massive capital gain’ that has been highly localized and for most could have been replicated by a liquid portfolio. Perspective matters. – Garth

#148 OttawaMike on 01.24.18 at 10:56 pm

Lisa McLeod, come on down!

#149 conan on 01.24.18 at 11:08 pm

Patrick Brown just moved into the “not cool” column. This sways the election, unbelievable.

#150 acdel on 01.24.18 at 11:16 pm

#139 Mark

Even if one can find one in that field; it is all contract work, no benefits, high stressed, extreme pressure, wages are way down comparing to a few years ago. Brilliant minds going to waste!

Good or bad, there is a reason that Amazon gave us a pass..

#151 Yuus bin Haad on 01.24.18 at 11:19 pm

caption contest:

https://www.youtube.com/watch?v=lcKXie8E988

#152 Shawn on 01.24.18 at 11:20 pm

Unless they want a 90 cent $CAD the BOC is done for the year. Real estate (and debt levels) will remain stubbornly high in the meantime.

#153 LivinLarge on 01.24.18 at 11:21 pm

“Conservatives are like rats on a sinking ship. How can anyone trust a party like this?”….all parties are the same. The only difference is the colour of the ties and now maybe the socks.

#154 Peter Piper on 01.24.18 at 11:27 pm

#134 Howard on 01.24.18 at 10:14 pm
#128 Pete on 01.24.18 at 10:04 pm
Breaking news.

CONservatives lost the provincial ELECTIONS. BAhahahahahhaaha. See you in four years

—————————

Breaking news. Latest Forum poll shows PC 43, Lib 24.
———-
Late breaking news: see #144

#155 LivinLarge on 01.24.18 at 11:29 pm

“What happens to you? Do they take all your assets and you go bankrupt or…?”…no…it’s an insurance policy you paid the premium on up front.

Now it does pooch you royally on credit score though.

#156 TalkingPie on 01.24.18 at 11:29 pm

#147 Ace Goodheart on 01.24.18 at 10:53 pm

There was a time when you bought a car for life. People literally kept them forever. If you go to some small towns in Sweden, you will find Volvos that are 40 or 50 years old, still running and being driven daily. Now a car is something you drive for five years and throw away. Go visit a junk yard. I challenge you to find a vehicle there that is more than 10 years old.

********************************************

What kind of cars are you buying? All data shows that, on average, never before have the cars on the road been as old as they are now, nor as durable. The average age of the cars on the road in the US today is 11.5 years and climbing. Yes, you can find individual makes which are less durable now than in the past – Mercedes, for one. Then again, a comparable model of Mercedes today, say a C300 compared with an 80’s 300E (same size engine, today’s car is bigger, far more luxurious, far more powerful, more crashworthy, etc.) costs about the same in nominal dollars than it did nearly 30 years ago – in either case about $36,000.

My personal cars consist of my airport beater – my parents’ old 2004 Chrysler Concorde with 250,000+ km on it – and my ’99 Miata, which at 135,000 km is just getting broken in. I don’t hesitate to take the Chrysler from Montreal to Toronto despite still being on its original timing belt and minimal maintenance, and I run the Miata on the race track and take road trips in it – record was a little over 1,000 km in a day.

If people were keeping cars for 40 years in Sweden, it’s because they drove far less and far less quickly than today, and because technology and economies of scale made replacement too costly. They’re still cobbling together remnants of scrap-heap GM iron from the 50s in Cuba, too. That doesn’t mean they were better built.

Consider chassis lubrication, valve adjustments, carburateur work, 5,000 km oil changes, points adjustment and replacement, annual spark plug replacement, and rusting by the third winter – all things that just aren’t an issue on today’s cars.

If your argument is that a good proportion of Canadians are buying more car than they need or can reasonably afford, and are replacing them far more frequently than necessary, then I agree. But those cars are going to second, third and fourth owners. Barring an accident, they’re not going to the junkyard before 10 years.

#157 waiting on the westcoast on 01.24.18 at 11:32 pm

Mark – but there were over 200 engineering jobs on that board overall…

https://www.egbc.ca/Careers/Career-Listings

For comp sci jobs, you would be better served hitting the BC Technology website (over 250 jobs available)…

http://www.bctechnology.com/jobs/search-results.cfm

These are just in BC.

But I have followed your MO for years and you definitely don’t want to find work. But please don’t confuse your lack of getting a job with a lack of jobs available.

#158 Mark on 01.24.18 at 11:34 pm

“What happens if you default on a mortgage that has CMHC insurance? I know the bank is covered on the amount.
What happens to you? Do they take all your assets and you go bankrupt or…?”

Basically, personal bankruptcy is pretty much a foregone conclusion after defaulting on a CMHC-insured subprime mortgage. The CMHC will file as an unsecured creditor for the deficiency amount, and the bankruptcy process will proceed in due course.

This is, of course, unless the government comes out with some sort of ‘program’, or simply decides not to pursue deficiency claims in bankruptcy as often was the case in the United States.

#159 acdel on 01.24.18 at 11:38 pm

Yeah, for some, last post for awhile. Took Garth’s advice, made a few bucks, hello South of France where Bordeaux wine is less then five Euro’s, 24 good euro beers less then five bucks, I could go on, but the one’s of us that have been fortunate enough to enjoy that part of the world, knows what I am talking about.

Those of you that think that we here in Alberta are a bunch of racial rednecks read this, love this province, I am proud of this!

http://calgarysun.com/business/local-business/calgarys-200-million-multi-cultural-mega-mall-on-track-for-summer-opening/wcm/1780102a-f370-49fa-846e-d8e3a3292c83

#160 MF on 01.24.18 at 11:42 pm

45 Pete on 01.24.18 at 10:50

Nope. Sounds like another petty smear campaign.

Liberal fatigue is rampant in Ontario. They could nominate Ronald McDonald and still win.

MF

#161 Shawn on 01.24.18 at 11:45 pm

It will take a recession to shake out the average heavily indebted Canadian real estate owner that bought within the last 5 years.

I see this materializing in similar fashion to the 1990-91 recession and subsequent real estate decline.

We’re probably looking at 2020-21. History doesn’t necessarily repeat itself but it often rhymes.

#162 Howard on 01.24.18 at 11:52 pm

Seems that all political party leaders will have to be women going forward, since unproven MeToo hit job allegations can and will be thrown at any male.

Fine by me – Prime Minister Rona Ambrose anyone?

#163 45north on 01.24.18 at 11:58 pm

Smoking Man: Prime Minister Justin Trudeau called on corporate chief executives to put workers before profits and take major steps to boost the role of women in the work force and tackle sexual harassment.”

When Trudeau talks about workers, he means workers as defined by Marx and Lenin. He doesn’t mean workers who own houses with mortgages who support their families, who are husbands and wives, fathers and mothers. No the workers he talks about are one-dimensional, kind of like a wind up doll – they only do one thing – they work. The corporate chief executives do only one thing – they put profits before workers. They ignore the subservient role of women in the work force and refuse to tackle sexual harassment – ignoring and refusing are not doing. And Trudeau’s on the side of the workers.

The present situation is that the real estate market in the GTA is at the point of collapse. Whether you’re male or female it doesn’t matter that much – it’s this collapse which threatens people. It’s Justin Trudeau’s job as Prime Minister to identify the threat and do what he can to encourage and support people – and it’s a hard job because he cannot stop the real estate market from collapsing, he cannot pay everybody’s mortgage. He must identify with them as people, as they are.

He hasn’t identified the threat even though it’s generally known in financial circles. His finance minister Bill Morneau has been in the financial planning business all his life, he knows the real estate market is at the point of collapse – he’s known for a year but he hasn’t said a damn word. What did he do? He put forth his silly plan “tax fairness for the middle class”. Trudeau and Morneau are sticking with their plan – workers against corporate chief executives. They figure there are more workers. The alternative is hard – to lead people through a rough time.

#164 Re.147 on 01.25.18 at 12:01 am

Yup . Many many called the real estate top way way too early . And those that followed are now r priced out .

Sometimes it’s better to be lucky than ‘smart.’

#165 read the lines on 01.25.18 at 12:04 am

When Mattamy’s CEO signs up to be on the board of directors for a private mortgage lender, well I guess we can see where this is going.

https://www.newswire.ca/news-releases/mortgage-company-of-canada-announces-the-appointment-of-brian-k-johnston-to-its-board-of-directors-670723693.html

I guess maybe more and more home buyer’s need access to alternative sources of funds.

#166 Blessed_Canadian_Millennial on 01.25.18 at 12:10 am

Spock on 01.24.18 at 7:55 pm
What would motivate someone to come out and show the world (along with current and future employer) what a low IQ moron one is.

Cannot understand that price can go down. Asking phase 2 buyers to respect them because they bought when it was dirt.

What kind of fools are allowed to borrow $500K?

——

Worse, these folks are allowed to vote.

#167 meslippery on 01.25.18 at 12:14 am

First it was the ketchup, now the soup?
—————
Trade or free trade it is great unless you think it should done here so we could have a life and a tax base.

#168 Happy Housing Crash Everyone! on 01.25.18 at 12:14 am

Happy housing crash everyone! The house of cards is falling apart. The crying has already started.

#169 Newcomer on 01.25.18 at 12:16 am

#107 Fake News Again on 01.24.18 at 9:26 pm

Hey Mark……do you LIVE in Greater Vancouver?
—–

I’m the OP on this, and I live in the CoV. (I’m guessing you live somewhere out in the valley. Abbotsford, maybe?) I’m guessing your point is that you have seen actual Asians walking around and that it freaked you out. I can confirm, however, that there is no secret information that can be gained by living here that could not be gained at a distance.

#170 Spaccone on 01.25.18 at 12:22 am

Sure, they watered down the soup, and replaced the chicken bits with foam, but under whose visionary leadership?

=====================

It’s the American way (enabled via Canadian executive-class corporate drones and slimeballs) — start off building your brand name and reputation with a good quality product. Then keep on squeezing quality and human resources (and in turn costs) until something breaks. Back off a bit, then continue squeezing. Repeat until bust.

Judging by Glass Door reviews seems like that might sort of be the scenario–good riddance–just another American sweatshop and meatgrinder.

#171 meslippery on 01.25.18 at 12:25 am

People can stay irrational longer than you can stay solvent.
——————
Yes my Dad use to say that.

#172 Smartalox on 01.25.18 at 12:29 am

@Mark #139:

EGBC is NOT the most prominent job board for engineering talent in the province of BC. I’ve looked for work on multiple occasions since I’ve lived in BC and I never gave the EGBC boards more than a passing glance. I’m not a Computer Engineer or a Software Engineer, but since I’m also not a civil engineer, or seeking an entry level position, I wouldn’t be looking at EGBC either.

Like most people, the best hits I’ve had have been from recruiters, through my network, or by targeting companies and looking for opportunities on their websites. Similarly, when I hear that former colleagues or network members have lost jobs, or who have positions to fill, I actively connect with people I know, whom I think might be interested. I also connect with hiring managers and HR people whenever I’m asked to act as a reference: you’d be surprised how many doors this opens, not just at the time, but down the road.

EGBC. Egads! The only reason I’d check that website for a job would be if I wanted to go work FOR that organization. But then again, a couple of executives there are former colleagues, so if I did want a job there, I’d probably just hit up my network.

#173 NEVER GIVE UP on 01.25.18 at 12:31 am

The housing fraud has caused good people to not have a home or pay far to much of their life’s earnings to “own” one.

Truly housing has turned into a futures market whereby everyone feels that RE only goes up.

The only way to reverse this is to tax the hell out of short term capital gains made in Real Estate “Flipping”.
Canadians do it En Masse.

We could also be sensitive to long term home owners who are building a nest egg in their homes.

I would propose a 7 year period whereby all profit from the sale of the home, meaning the sale price less the purchase price, is taxed at 50%. If this is not enough we could add another 3 years holding at say 25% or some graduated number the pundits feel would work.

After that period if a person sold their home it should be tax free.

It is a reasonable solution to the rampant flipping that goes on here in the Lower Mainland.

Why do you think people line up for days to get a condo? Most of them are flipped before the building is built.

That is as bad as allowing ticket Scalping.

It should not be allowed. It is immoral and unfair to good hard working people who are just trying to raise a family and get through life.

#174 VicPaul on 01.25.18 at 12:31 am

#11 Roial1
Well Garth, I guess that the s—-t well and truly hits the fan now.
Thanks to you we are safe and secure with our balanced
Portfolio .
Wouldn’t be there with out your advice.

From the beach in Nicaragua.
————–
Um, are you living my (hopeful) retirement?
Near the beach golf club in Panama for a couple months, zip home to see the kids and a few chums for a month or so, then off to the new golf club in Denang – play and hang there for a few weeks then trek down to southern Thailand for a…you get the idea. Nicaragua…I’ll look into it. )
M54BC

#175 Parksville Prankster on 01.25.18 at 12:32 am

… not everyone is asleep it would seem…

https://www.msn.com/en-ca/money/topstories/why-young-people-who-can-afford-it-are-choosing-not-to-buy-homes-in-calgary/ar-AAv6uHc?li=AAggFp5&ocid=mailsignout

#176 Drill Baby Drill on 01.25.18 at 12:33 am

Wynne is smiling now due to the PC leader not thinking with his head, the one with the grey matter in it.

#177 Smoking Man on 01.25.18 at 12:41 am

#149 conan on 01.24.18 at 11:08 pm
Patrick Brown just moved into the “not cool” column. This sways the election, unbelievable.
…….

Let’s see hajab hoax Wynee people involved, press conference 45 minutes after the attack.. CTV a globalist pusher and pimp has two woman that will remain hidden come up with these allocations. Is anyone surprised.

I wish they were true. Brown’s a goof. Like him about as much as I liked Whodat. But the globalist will stop at nothing to get there one world govt. Then we are all fkd.

Bottom line. Men will always risk an unwanted kiss to get the girl. Its how we are wired. Woman will always dangle something cute to get that kiss and see what can get off the idiot. And sometimes this game turns to love and kids and family.

Globalists don’t like that.

Globalist are dividers not Uniters.

#178 crossbordershopper on 01.25.18 at 12:54 am

blowing out on profitable lrcx tomorrow morning, and then into isrg. they should blow as well, going with in the money no premium upfront week to play the move, should be a 50% move on the option. got to close nflx they blew, and was lucky on the american airlines trade. the puts are in the money nicely. got to close out for the week.
some people invest, some people speculate, and some buy drywall. its about making money, all asset classes are expensive, even some commodities, oil is approaching 70 now usd and no one cares, copper zinc etc all up, gold is not going anywhere but been rising to the 1350 range now if it cracks 1400 it could go to 1600 as the usd slides courtesy of trump.
trump knows business, he really does, lower taxes bringing trillions back, what does trudeau talk about profit sharing, well justin what does loss sharing mean? never heard of the term, its when hard working people risk their entire life savings on a business, a restaurant, dry cleaner whatever, and they sweat and toil and make no paycheque sometimes ever and they close down. i have seen it many many times.
the employee soon to get 3 weeks paid vacation, and 15 bucks in ontario, man, i would take that, no risk , no investment, i simply waste my time going to work and they give you money at the end of two weeks. from a prospective i have never received a cheque for working, i have since university been self employed. in hindsight i wish i was a simple employee, instead of daily stressed out making money with no security, but i have adhd, and other stuff. so i couldnt like work for someone. i would either tell him how to do it better or litterly sleep in the store till the work is done. this is not how the employeer – employee relationship is, so thats why i never got a job. too messed up.
I poo poo canada regularly, but its not that bad, it could be worse, and it could be better, the usa is still number 1.
i make money in the us market, what did you want me to do trade enbridge stock? how do you make money with that. Canada is simple, dont expect too much and you wont be disappointed. simple, and they will cover the minimum for you, and cut off the growth off the top. thats Canada in a simple description.

#179 IHCTD9 on 01.25.18 at 12:58 am

#149 conan on 01.24.18 at 11:08 pm
Patrick Brown just moved into the “not cool” column. This sways the election, unbelievable
———

Unbelievable is right. I really just can’t believe it! The Cons need to just throw in the towel. Wynne’s got it locked up now.

Brown wants it to “be handled where it should be, in court” as he says. He needs to sit down with Ghomeshi and take a lesson. True or not, proven innocent or not, a Man in Ontario can kiss his career good bye after these kinds of allegations. Half his support group has already resigned. He is DONE!

What a ####### gong show these Ontario Conservatives are.

#180 Where's The Money Guido? on 01.25.18 at 1:12 am

Loblaws in $400M tax fight with CRA over claims it set up bogus offshore bank

http://www.cbc.ca/news/business/loblaws-cra-glenhuron-bank-barbados-tax-1.4490564

#181 Smoking Man on 01.25.18 at 1:28 am

Gazing at the sunrise . Blue eyes not welcome.

Can anyone see my middle finger.

T2 it’s on, you vs a drunken dtslecix man who smokes .

Be afraid.

#182 SoggyShorts on 01.25.18 at 2:20 am

#52 Commitment on 01.24.18 at 6:59 pm
All I know is that renters are pathetic people who don’t build communities. A community requires commitment. Owning a home is a sign of commitment. If I find out someone is a renter during the hiring process, it usually signals the end their hiring process. Bums need not apply.
*****************************
Exactly, who wants to hire people with basic math skills? Make sure to check if they have their shoes on the right feet, if they do tell em to scram!

#183 Nonplused on 01.25.18 at 2:23 am

#109 Smoking Man

Turdeau wasn’t speaking to the folks at Davos, nor any corporate executives, who all know he couldn’t say crap if his mouth was full of it. He is speaking to his voters. It’ll be in the Globe and Mail and picked up elsewhere and the SJW’s will all say “Hooray for Turdeau, he’s sticking it to the man!!” Meanwhile he’ll get re-elected by these people and continue cashing coupons from his trust fund which is heavily invested in the very types of businesses he’s criticizing.

But anyway I have to admit that Turdeau is developing quite well as a politician. A stinking, lying, corrupt, deceitful politician but I suppose that is all redundant. But he’s learning a key lesson from the Trump campaign. I’m actually a little surprised because I didn’t think he was that smart. But anyway, what Trump proved during the election and Turdeau seems to be picking up on is that whenever you are on camera, you speak to, and only to, people who might be influenced to vote for you. This was the great success of the Trump campaign, he did not try and convince any democrats to vote for him. He knew that was a waste of time. Instead, he merely echoed themes he knew were out there in rural America and convinced those people to come out and vote for him.

For example, do you think when Trump went before the UN and threatened to flatten North Korea (again), that message was meant for the North Koreans? They won’t even get to see it. How about the leadership? They already know about that possibility which is why they are building nuclear bombs. So who was it for? It was for his voters and supporters, he wasn’t even talking to the UN. He couldn’t care less about the UN.

There is not one person in attendance at Davos who gives a crap what Turdeau has to say. I’d bet no one there would have been listening had the ski hills been open instead of being under 6 feet of snow. Turdeau’s message was directed at Canadian SJW’s and no one else. It was directed at the current Liberal voters and perhaps the NDP voters. It was not directed at anyone at Davos because they all know he’s a drama teacher, not an economist.

Humpf it just dawned on me that both Trump and Turdeau are actors. Trump having had much better ratings though, Turdeau never actually having landed a part on TV. Too bad Trump never had Turdeau on “The Apprentice”. That would have been good TV.

#184 SoggyShorts on 01.25.18 at 2:40 am

#147 Ace Goodheart on 01.24.18 at 10:53 pm
… if you listened to him, you would have missed out on the largest opportunity for a massive capital gain that has ever presented itself to the middle class in the last 100 years at least.
**************************
As one of the 75% of Canadians not living in the GVA/GTA, I’m sure glad I listened.
In 10 years prices in Alberta are flat at best, and my portfolio has more than doubled.
Actually unlike VA/TO where only 25% live, absolutely everyone with a balanced and diversified portfolio should have doubled their money.

Even if Garth had said that no one should invest in real estate, ever, then he would still have been right in most cases across Canada.
Note: As he said, that was never his message.

Of course everyone who didn’t play the lottery didn’t win, that doesn’t mean that the advice to not buy tickets is wrong.
You can’t just pick something that did well in the past and say everyone who didn’t invest in it failed. Feel free to tell us what we should invest in NOW, and we’ll judge you in 10 years. If you pick any ONE thing I 100% promise you’ll miss thousands that do better.

#185 jane24 on 01.25.18 at 2:45 am

Well what happened last time in 1989 was that builders quickly redesigned their offerings to be simpler, smaller and cheaper so obvious and direct comparisons between pre-bust and post-bust pricing was not possible. Surprised that a builder as big as Mattemy has fallen at this basic marketing hurdle. Probably too big to care.

Yes in 1989 completed houses on giant sub-divisions on the resale market were much cheaper than the builders current houses for sale but humans being lazy very few folk actually did their pricing homework until it was too late. People put a lot more thought into buying a pair of shoes than a house.

A fool and their money are soon parted. Always, always true.

#186 Dolce Vita on 01.25.18 at 3:35 am

Yet again, history repeats and prevails.

Only difference is that this resale & new RE peak was the greatest, logic follows, so will its demise.

1 down (416 Land) and…

1 to go (YVR & environs).

#187 Fake News Again on 01.25.18 at 5:02 am

#119 Mark on 01.24.18 at 9:44 pm
“Hey Mark….the expert……still waiting for you to answer the question to all of us that LIVE in Greater Vancouver if you live here.”

Answer me this, every ‘foreigner’ you see buying RE in Vancouver, do you walk up to them and ask to see their passport? Or do you just, as unfortunately many Canadians do, ‘assume’ that they’re foreign because they might be of a certain ethnicity, assume that they are buying with ‘foreign money’?

______

No Mark….I don’t talk to every stranger…but after living here for 30 years – ya get to know the place, the people, the LOCAL news the LOCAL radio stations where LOCAL people call in. People whom are lawyers, RE agents, contractors, house INSPECTORS. Shall I go on?

And I will listen to those LOCAL professionals opinion before I will listen to some Fake expert like you who visits “a few times” and pretends to be an expert on whom is doing all the buying.

#188 Bankish on 01.25.18 at 6:14 am

#109 Smoking Man

I have to respectively disagree with you that American workers will be receiving a windfall with the GOP tax cuts. In some cases there is a one time bonus and a one time wage increase, but that does not even compare to future stock and dividend increases I will be receiving as a share holder in companies that have a large presence in the USA. These investors will be making out like bank robbers. The well off will be much better situated to get the windfall.

#189 Stone on 01.25.18 at 6:31 am

#52 Commitment on 01.24.18 at 6:59 pm
All I know is that renters are pathetic people who don’t build communities. A community requires commitment. Owning a home is a sign of commitment. If I find out someone is a renter during the hiring process, it usually signals the end their hiring process. Bums need not apply.

————-

I suppose common sense does not prevail in your world. Time to get back on your medication.

#190 Rooster on 01.25.18 at 6:33 am

#29 GF Virgin on 01.24.18 at 6:15 pm
……I was hoping to get a little advice from the dogs. I’m looking to start investing in a balanced ETF portfolio in an RRSP and use my tax refund to invest in a TFSA.
Any insight would be appreciated!
***********

Investing always benefits the advisors, as you have already learned. The rest of the major beneficiaries are also in the industry or just lucky.

Balanced ETF’s are likely the safest bet, but it is still a bet. Diversification is the hope that the stars will outshine the dogs. There are now (slightly) more ETF’s than cryptocurrencies. There are even ETF’s of ETF’s, each taking a small bite of your pie. Know what is in them, what the real fees are, and ask yourself if you can do better. ZEB is a popular ETF of Canadian banks, which charges a MER of .62% (notably higher than the maximum annual management fee of .55 %) to manage a basket of six stocks that currently yield 3%. Crazy, but welcome to Garth’s world. Footnote: The banks also own the TSX, so they are too greedy to fail.

Only real advice I can offer:

Max the RRSP if you are planning to take a year or two off for a mid-life adventure/crisis. Otherwise, max the TFSA now and accumulate the RRSP room for when your marginal tax rate is higher. Be aware that although an RRSP refund seems like free money (originally your money), the string is that you pay more tax later if your investments grow and your retirement income is the same or greater than when you contributed.

#191 Ray Skunk on 01.25.18 at 6:36 am

Well, Brown’s gone.

But the unpredicted upshot of this is that now they can get a leader in who hasn’t been the target of union smearing for the past 18 months. Someone without a past. Someone more likeable. Someone more… female.

Are you still out there Christine?

Ontario needed a PC win before this occurred, here’s hoping it now blows up in the face of the strategists who orchestrated these timely, convenient, revelations.

#192 Stone on 01.25.18 at 6:51 am

#137 IHCTD9 on 01.24.18 at 10:30 pm
#88 KLNR on 01.24.18 at 8:03 pm
@#44 Stone on 01.24.18 at 6:42 pm
#32 Dead Cat Bounce on 01.24.18 at 6:22 pm
Lucky # 13 Zapstrap
Sooner or later we are ALL going to suffer over this. One way or another. We are ALL in this together … like it or not.
—————————————————————–
Truth !
———-
False !

Please replace ALL with “foaming at the mouth FOMO sheeple”. We will not ALL suffer. Only they will.
Please stick to facts, not truths.
___________

Nah, there’s some truth to it.
If the economy tanks as large as some think, only folks with absolutely nothing to lose will come out unscathed

————

I will be coming out unscathed. All bases covered. Virtually untouchable.

No, only those who did not keep themselves out of harms way, or are just starting out (feel bad for them) will get the pile driver.

———

This, I can agree with.

#193 Ace Goodheart on 01.25.18 at 7:04 am

RE: #156 SoggyShorts on 01.25.18 at 2:40 am

“Of course everyone who didn’t play the lottery didn’t win, that doesn’t mean that the advice to not buy tickets is wrong.
You can’t just pick something that did well in the past and say everyone who didn’t invest in it failed. Feel free to tell us what we should invest in NOW, and we’ll judge you in 10 years. If you pick any ONE thing I 100% promise you’ll miss thousands that do better.”

True. There are shades of grey here. Buying on speculation in the suburbs would have been a terrible idea. No clue why anyone would purchase any real estate whatsoever in Alberta. Ditto for Saskatchewan and Manitoba. Just too cold and too far from anything.

Van and Toronto are different.

Pick one thing that will do well in ten years:

OK: I really like the technology behind hydrogen batteries. Have played big on that technology. I’ll talk to you in ten years.

Also very interested in virtual reality “helmets” though I think that they’ll have to make them smaller and easier to wear. However, if the “cell phone ear bud” thing becomes a “cell phone eye bud” for virtual reality, then that will change the television and movie industries forever. Imagine going to a theatre and watching a movie on the big screen (or actually being IN the movie as it happens) while you’re actually sitting in a park streaming the data on your cell phone and watching on your virtual reality head set.

There is a company that makes that stuff. I have bought a lot of their stock.

Those are my two bets, for what it’s worth.

Oh and yes I got into real estate slightly after Garth started telling people not to. Made a couple mil. Probably will make a bit more. All in Toronto. Picking crap neighbourhoods that “gentrified”. I’m sure I pissed off the locals (they hate gentrification).

#194 Madcat on 01.25.18 at 7:12 am

#24 Suede, The NDP did not stand much of a chance in the first place but choosing a leader that is openly religious (a religion that is a minority) was the end of them.

If Treaudeau was sporting a kippah during his campaign he may not have won. Most of Canada is either not religious or Christian.

Religious people don’t care for other religions because ‘theirs is the one true God’ ECT… And many non religious people don’t respect organised religion.

Across the country the open minded and accepting folk are waaaay outnumbered by the not so open minded….

#195 Ace Goodheart on 01.25.18 at 7:13 am

RE: “The message here is not to eschew real estate but to avoid being enslaved by it – to have financial balance. As for your ‘massive capital gain’ that has been highly localized and for most could have been replicated by a liquid portfolio. Perspective matters. – Garth”

Very true.

I believe your take on markets and real estate over estimates human intelligence and under estimates human greed and stupidity, the latter of which seem to be two big factors that drive our economies and our capital and real estate markets.

#196 Victor V on 01.25.18 at 7:18 am

Re: Patrick Brown

I believe there is a link to Carolyn Mulroney and we will see her take over as interm leader as soon as tomorrow.

#197 Blessed are the Soup Makers on 01.25.18 at 7:27 am

~200 posts and no one cares about Campbell’s?
Only some bilge from Dozy the Riveter blaming Wynne & T2 for the plant shutdown. They never ate canned soup, you maroon. Homemade soup is easy, nutritious, and delicious. Recipes to follow. FU usa

The tsunami missed BC but hit Ontario late last night. Conservatives are wondering where the love has gone.
Next time choose a leader who is either a “10” and immune from allegations (e.g. Shania shagged me!, LOL), or a “1” whose only crime could be self-abuse.

Liberals 2 Cons 0

#198 Shoo Fitzpatrick on 01.25.18 at 7:37 am

#190 Ray Skunk on 01.25.18 at 6:36 am
Well, Brown’s gone.

Ontario needed a PC win before this occurred, here’s hoping it now blows up in the face of the strategists who orchestrated these timely, convenient, revelations.

**********
I just want the smartest people at the top, not the dumbest on top.

#199 Mr Happy on 01.25.18 at 7:43 am

I remember 1982 when people were throwing their keys on bank managers desks and walking out…

I remember reading an article around 2007 of outraged people in Florida who had bought for 500K and their neighbour bought for 250K…

History always seems to repeat itself. Shame is on the parents that never taught the next generation what “could” happen.

#200 Madcat on 01.25.18 at 7:48 am

“52 Commitment on 01.24.18 at 6:59 pm
All I know is that renters are pathetic people who don’t build communities. A community requires commitment. Owning a home is a sign of commitment. If I find out someone is a renter during the hiring process, it usually signals the end their hiring process. Bums need not apply.”

Lol!! I like hiring the ‘owners’ too. Because they’re in so much debt they can’t afford to miss a days work… They are also keen on working overtime whenever I need them to…

#201 SimplyPut7 on 01.25.18 at 7:55 am

Mattamy can keep their $1 million homes (reduced from $1.3 million) with knotty pine hardwood floors as an upgrade option from laminate. All the developers are doing the same thing, why do you think they print their prices on the cheap flimsy letter or legal size paper? So they can change the prices whenever they want.

There are lots of homes in the 905 area that are 1 to 5 years old that are selling for 20%-50% less than the small, ugly brand new houses the flippers and speculators are trying to unload.

The same thing is happening in the condo market. A coworker was showing me yesterday a new (vacant) condo in downtown Toronto that they were interested in, listed back on MLS for $30,000 less than the original asking price in Fall 2017, and another that was going for $1100 sqft at the peak now selling for $900 sqft.

I told them to tell let the sellers rot, it’s going to get worst. All of the flippers/speculators are going to have to face their banks and private lenders in 2018 in the GTA when they and the 57,000 homes being completed this year have to deal with rising interest rates and slowing demand.

I thought the foreigners and new immigrants were going to take all the land and houses in Canada? Shouldn’t these homes be selling at last years prices with no discounts if this was true? Or was the GTA housing market being held together by taxpayer money (CMHC), low-interest rate loans, overvalued homes used to get large HELOCs to buy properties to flip and for speculative purposes?

#202 Bad Cowboy on 01.25.18 at 7:55 am

Don’t worry Millenials, Trudeau will save the day. He’s tossed Trump the finger and signed the TPP with giants like Vietnam, and we all know how many jobs the Viets will export to Canada..win win win Trudeau says. The new treaty is “progressive…..yay…..winning! Now that we’re rid of those nasty Americans the economy will boom. Let’s remember to vote Liberal again and again!!

Oh heck…..the Ontario laugh track is on overdrive now that Brown has conceded to Wynne an election she couldn’t win. Get on the Jobs Drain Train and move to all you profit starved American businesses. Trudeau said at Davos that Head Offices are welcome…..bwahahahaha.

And …damn it…..I’ve lost another company to merger..RIP…..Keg Restaurants. That’s three deals cashed in one month….and I’m not happy…..except for one thing…..the US bullies are dropping the dollar and my continued shift to US denominated issues becomes more compelling. Here in Asia the USD is on sale and the market is booming and it’s a great time to into these Returning Tiger currencies vs the limp Trudeau Peso. I’m making double digits doing nothing. Bad Cowboy….this cash pile is becoming unsafe….I may have spend some time at the beach this weekend.

#203 Ezzy on 01.25.18 at 8:00 am

“Apparently many of them think life already sucks.”

I agree. With you Garth! But what else should we expect from multiple generations that have never known true suffering or hardship, and have always lived a coddled and secure life, in Canada? Sadly, perspective is reserved only for those who have experienced.

#204 Gravy Train on 01.25.18 at 8:05 am

#109 Smoking Man on 01.24.18 at 9:28 pm
“… So clueless…. Trump cuts taxes and workers get the windfall…. No concept of economics….”

Yes, SM, you are so clueless, and have no concept of economics.

According to Politifact, … “in the first year of changes, the top 1 percent are projected to draw a little over half the tax savings. The threshold of 80 percent going to the top 1 percent is projected for the tenth year.”
http://www.politifact.com/texas/statements/2017/oct/20/lloyd-doggett/lloyd-doggett-says-80-percent-republican-sought-ta/

#205 IHCTD9 on 01.25.18 at 8:18 am

#162 Howard on 01.24.18 at 11:52 pm
Seems that all political party leaders will have to be women going forward, since unproven MeToo hit job allegations can and will be thrown at any male.

Fine by me – Prime Minister Rona Ambrose anyone?
____________________________________

It’s a little concerning to me actually. I can’t escape the extreme likelihood that these two women were dug up and “convinced” to make these allegations. Just way too timely to not ask the question.

Of course, were not allowed to ask those kinds of questions.

#206 under the radar on 01.25.18 at 8:18 am

The Mattamy development and a host of others in the hinterlands were pimped to the max . Real dog and pony shows. I remember seeing line ups outside sales trailers in the middle of winter where sheep were pushing and shoving to buy these cookie cutters. So predictable. Reminded me of people lining up to buy gold when the Russians invaded Afghanistan . Buyers could be faced with closing values that are less then the purchase price. Those defaults end badly for the buyer. deposit is lost and they are on the hook for the deficiency.

#207 Armpit on 01.25.18 at 8:42 am

Bring Back Tim Hudak…!!!

#208 FLHTK on 01.25.18 at 8:44 am

Ha what fools! They bought when the market was hot and warnings about interest rate hikes, well the 2 go hand in hand, interest up housing prices lower!
I’d be embarrassed if I was them and would have said nothing on social media, or to matemy. Thats just the way the market goes….
There is a subdivision by my house being built, still selling for over a million for a 2 storey, and that’s out in Springwater township besides Barrie, crazy! wonder if they will drop their prices too

#209 Tater on 01.25.18 at 9:03 am

#44 Stone on 01.24.18 at 6:42 pm
#32 Dead Cat Bounce on 01.24.18 at 6:22 pm
Lucky # 13 Zapstrap
Sooner or later we are ALL going to suffer over this. One way or another. We are ALL in this together … like it or not.
—————————————————————–

Truth !

———-

False !

Please replace ALL with “foaming at the mouth FOMO sheeple”. We will not ALL suffer. Only they will.

Please stick to facts, not truths.
—————————————————————–
If the housing market unwind is a big as it should be, we will ALL suffer. The broader economy will contract and there will be layoffs. Corporate earnings will suffer, bonuses and proit sharing will go down. Equity markets will contract, etc.

If you’re the sort of @ss who’ll go around chirping all the homeowners at work about how you’re so smart for renting while they are underwater, believe me, you’ll be the one who gets the shoulder tap from HR.

That’s why bubbles are so scary. You can stay well clear of them and still have your life messed up when they burst. Second and third order effects can be rough.

#210 ANON on 01.25.18 at 9:09 am

Will all suffer, or only some? Let’s start with the definitions:
cred·it
ˈkredət/
noun
noun: credit
1. the ability of a customer to obtain goods or services before payment, based on the trust that payment(*) will be made in the future.
* Along with imaginary interest (or profit), i.e. “more”

When the trust of getting “more” into the future morphs into the certainty of “less” (more like nothing :) IMHO), all suffer, even those with not much to lose. No one lifts a finger unless there’s more into the future for them (positive energy return on energy invested -EROI- is a requirement for the existence of all life forms, and humans are able to maximize EROI via imaginary promises of “more”, because of their capacity to create exceptional narratives of the future based on the past, called intelligence). The greater the EROI, the better quality of life, until “more” becomes “less” (or nothing).
Expansions require a lot of imagination. :)
Contractions also trigger a lot of imagination, the angry, blaming kind.

#211 KLNR on 01.25.18 at 9:20 am

@#176 Smoking Man on 01.25.18 at 12:41 am
#149 conan on 01.24.18 at 11:08 pm
Patrick Brown just moved into the “not cool” column. This sways the election, unbelievable.
…….

Let’s see hajab hoax Wynee people involved, press conference 45 minutes after the attack.. CTV a globalist pusher and pimp has two woman that will remain hidden come up with these allocations. Is anyone surprised.

I wish they were true. Brown’s a goof. Like him about as much as I liked Whodat. But the globalist will stop at nothing to get there one world govt. Then we are all fkd.

Bottom line. Men will always risk an unwanted kiss to get the girl. Its how we are wired. Woman will always dangle something cute to get that kiss and see what can get off the idiot. And sometimes this game turns to love and kids and family.

Globalists don’t like that.

Globalist are dividers not Uniters.
_____________________________

Lol, conservatives keep shooting themselves in the foot. you’d think they could have vetted this guy a little better. now we’re most likely stuck with wynne.

Apparently quite a few conservative party members didn’t think this guy was conservative enough to be leader. thats a more realistic conspiracy theory

#212 LivinLarge on 01.25.18 at 9:28 am

Rooster: “Otherwise, max the TFSA now and accumulate the RRSP room for when your marginal tax rate is higher. Be aware that although an RRSP refund seems like free money (originally your money), the string is that you pay more tax later if your investments grow and your retirement income is the same or greater than when you contributed.” YES-YES-YES-YES-YES!!!! Did I mention YES?

That silly lure of enhanced refund going in to TFSA is hooking sooooo many neophytes these days.

As long as you can carry forward your unused RSP contribution limit then carry t forward until you have reached your likely income plateau and therefor are at your likely marginal rate plateau too.

Most, not all but most folks receive some sort of tax free windfall at some point (usually later) in life. Insurance payout from parent or even a tax free principal residence cash out. That is the time to use up your accumulated contribution room, when you’re already at your likely max marginal rate.

Nice to see people like Rooster who understand the tax laws and can visualize the entire pucture in context.

#213 conan on 01.25.18 at 9:35 am

#190 Ray Skunk on 01.25.18 at 6:36 am

“Are you still out there Christine?”

Hail Mary move for the Ont Cons. Let her run in Brown’s riding, and declare her interim leader.

Can that even be done?

Good chance she tells everyone to stuff it. She was the no brainer choice, and the “boys network,” instead rallied behind Brown.

“here’s hoping it now blows up in the face of the strategists who orchestrated these timely, convenient, revelations.”

Even without benefit of court proceeding, I know PB is toast.
One can not act this way with people who are working for you/want to work for you.

It is immoral.

#214 LivinLarge on 01.25.18 at 9:36 am

“Bring Back Tim Hudak…!!!’…..be careful what you ask for. Don’t you find it terribly odd that ole Timmy is at the helm of the ship carrying all the hated RE industry pros in his current gig???

“When the gods want to punish us sometimes they just answer our prayers”.

#215 Duke on 01.25.18 at 9:49 am

They must feel pretty bad but I don’t have any sympathy for them.

When the signed the contract, they knew the house won’t be ready in two years and were expecting their house will appreciate in value. Well, RE market is not immune from basic economic rule, so things can go either way. Their greed is what they have to blame on.

If they want compensation due to market correction, will they pay more if the house value appreciates? Either way, their houses are not built yet.

Stupid greedy people.

#216 Alistair McLaughlin on 01.25.18 at 9:53 am

#52 Commitment on 01.24.18 at 6:59 pm
All I know is that renters are pathetic people who don’t build communities. A community requires commitment. Owning a home is a sign of commitment. If I find out someone is a renter during the hiring process, it usually signals the end their hiring process. Bums need not apply.

There are very good reasons why employers prefer hiring homeowners. Just not the reasons you give. That “commitment to community” you mention is just corporate double-speak for “we prefer hiring people who need us more than we need them.”

There is no bigger nightmare for a manager than a debt-free employee who doesn’t need his job. Far better to hire someone chained to a massive mortgage.

That’s why many companies are willing to cover the closing costs involved with purchasing a house, but offer no equivalent relocation assistance for renters. It’s all about “commitment to community” of course.

#217 Mike in Toronto on 01.25.18 at 10:01 am

#38 Smartalox

I was thinking about why Mattamy would give them anything….

The only thing I can think is that the price drop is now over their deposit, to the point that they would be better off walking and re-buying at the new valuation.

The $30k probably comes with additional terms to strengthen Mattamy from recourse.

Mattamy was founded by an accountant, right?

#218 Sacre Blew on 01.25.18 at 10:05 am

#195 Victor V on 01.25.18 at 7:18 am
Re: Patrick Brown

I believe there is a link to Carolyn Mulroney and we will see her take over as interm leader as soon as tomorrow.
********
Is that the entire political spectrum in Canada?
Frogs and Dogs or Rapists and Papists

#219 IHCTD9 on 01.25.18 at 10:05 am

#208 Tater on 01.25.18 at 9:03 am

That’s why bubbles are so scary. You can stay well clear of them and still have your life messed up when they burst. Second and third order effects can be rough.
_____________________________________

The effects are totally avoidable, many will be entirely unmarked by them.

I’ll be a spectator if this event comes to pass, and not by accident.

#220 namename on 01.25.18 at 10:21 am

Astrid seems to love to just DIVE right into what ever trend is on the roll….

https://www.youtube.com/watch?v=lcKXie8E988

#221 IHCTD9 on 01.25.18 at 10:22 am

#206 Armpit on 01.25.18 at 8:42 am
Bring Back Tim Hudak…!!!
______

I know that was a joke, but seriously – if the cons don’t put a Woman out front – they are insane.

With the speed that this all went down last night, it’s safe to say the veracity of the allegations were of no concern to anyone.

IMHO, the door is now wide open for these types of allegations to just be faked with the same results.

Women are totally bullet proof to this, where as every Man on the planet could be taken down if actions remain as shoot first, and worry about facts after the guy’s life has already been imploded.

Brown is a douche, I believe the Women. But the fact remains this guy was destroyed by pure unsubstantiated accusation, no charges were laid, no trial has be held. He is done for good, anywhere.

#222 Stan Brooks on 01.25.18 at 10:24 am

The fancy socks idiot/globalist puppet and the conflict of interest financial guy are destroying Canada.

NAFTA is pretty much done.

https://ca.finance.yahoo.com/news/canadian-businesses-prepare-world-without-nafta-133609701.html

Kiss all these NAFTA/TN visas goodbye

God help us.

#223 PastThePeak on 01.25.18 at 10:39 am

#183 SoggyShorts on 01.25.18 at 2:40 am

As one of the 75% of Canadians not living in the GVA/GTA, I’m sure glad I listened.
In 10 years prices in Alberta are flat at best, and my portfolio has more than doubled.
Actually unlike VA/TO where only 25% live, absolutely everyone with a balanced and diversified portfolio should have doubled their money.
==============================

Indeed the comments section here (and most media) is entirely focused on GTA and GVR. Of course they are the two largest cities, but as you note ignore that still about 75% of the population doesn’t live there.

My house in Ottawa has only slightly appreciated since say 2010 (a couple % a year on average), but investments have vastly outstripped that. Not saying that buying a house in Ottawa would have been a bad idea – you buy it if you have the means, want the stability, etc. Just not for investment.

I never had the interest to invest in a property in GTA (too much $$), but we did invest in a property in Florida in 2011, and did very well (sold it early in 2017 as we felt the CAD$ moves and appreciation were quite mostly done for the time). Just lucky… we sold before the hurricanes. Nothing goes up forever…

#224 PastThePeak on 01.25.18 at 10:40 am

I can’t wait to see the great things that Wynne will do in Ontario with another 4 years…

#225 Alex N calgary on 01.25.18 at 10:42 am

Thanks for being on the hot topic, good writing. There is the Question if the people buying into these houses know exactly what they’re doing. Expecting houses to crater year after year only to see their smug Audi driving friends make another 20k and another 60k, maybe it was time to gamble, try and make that once in a lifetime profit that seems to keep rolling forever. Hopefully it finally will slow down with Interest rate hikes and B20, one wonders though, has it gone too far? will HELOCS keep them going, absorbing the losses to make an ultra slow melt for 10 years or more?

The last slowdowns were due to huge price increases, not actual market conditions that are now, maybe things will actually shake down now. Going to take time to see here in Calgary what happens, are there 100,000 empty investment houses here? how long can people absorb losses? Rental market is mega, houses keep decreasing in better and better places even if prices are still stagnent-ish, summer should bring a good indicator if B20 and interest hikes actually have an effect. Speculative trading and BS about oil in the middle east might have it slightly high right now, but there is still more then they can even store worldwide, it keeps increasing, electric is coming online (cars houses) its not a rosey pic for Berta, but hey, vote in the Cons again, that’ll solve things, NDP ruined it all..

#226 millmech on 01.25.18 at 10:43 am

Was watching BNN and an interesting host on US Fed rate hikes, with the falling US dollar leaves more room for faster and larger interest rate increases. I wonder if we will see .5 rate hikes instead of .25 rate hikes and since Canada follows suite 90%+ of the time, would Canada do the same?

#227 Josh in Calgary on 01.25.18 at 10:44 am

#29 GF Virgin,
First off I’d break your portfolio into 20% chunks (roughly).

20% = short term bonds. VSC for example
20% = preferred shares. XPF for example
20% = Canadian equity. XIU for example
20% = US equity. VTI and VIG for example (have to hold these in US $, or you can find Canadian equivalent, VUN and ???).
20% = International equity. XEF for example.

Thus you can get all your exposure in 5 ETFs. There are ways to simplify or make it more complicated if you want. To simplify you can go with XAW to cover both US and international. And I’m sure you can find a fixed income ETF to cover both bond and preferred share.

Personally I’m not sure I’d hold as much in short term bonds these days since it seems like a losing bet with rising rates. But those are individual choices.

#228 InvestorsFriend on 01.25.18 at 10:45 am

Cars Last Longer Today

#156 TalkingPie on 01.24.18 at 11:29 pm on cars lasting longer and being far better than decades ago.

***************************************
That is 100% correct.

#229 Fish on 01.25.18 at 10:46 am

Fellow Canadians please welcome to the new 53rd state

#230 conan on 01.25.18 at 10:46 am

#217 Sacre Blew on 01.25.18 at 10:05 am

“I believe there is a link to Carolyn Mulroney and we will see her take over as interm leader as soon as tomorrow.”

You think so? She is probably instead, thinking about ripping up her member ship card, and…………. , then running in Quebec, as a Federal Liberal.

#231 Tony on 01.25.18 at 10:46 am

Poloz unsure if more rate hikes are to come in 2018

https://www.theglobeandmail.com/report-on-business/economy/bank-of-canadas-poloz-says-he-cant-predict-if-more-rate-hikes-are-to-come-in-2018/article37728410/

#232 SWL1976 on 01.25.18 at 10:55 am

Wow!!!

Cry me a river you financial nit wits. The dumbass look on their faces say it all.

I have one question for them – have you ever been bankrupt?

Me either, but I’ve been close and it sucked. Sure glad it happenend in my mid 20’s and not mid life.

Life lessons cost money

Good ones cost lots

#233 LivinLarge on 01.25.18 at 10:59 am

“The only thing I can think is that the price drop is now over their deposit, to the point that they would be better off walking and re-buying at the new valuation.”…you nailed it there Mike. It’s expediency for Matamy. Eat $30K or sit on a finished unit dropping in price by the day.

It’s extortion but it’s legal extortion.

#234 Anonymous Coward on 01.25.18 at 11:04 am

#79 ETFingGoodTime on 01.24.18 at 7:44 pm

Thanks for the helpful into & stock tips!

#235 Howard on 01.25.18 at 11:10 am

#212 conan on 01.25.18 at 9:35 am

#190 Ray Skunk on 01.25.18 at 6:36 am

“Are you still out there Christine?”

Hail Mary move for the Ont Cons. Let her run in Brown’s riding, and declare her interim leader.

Can that even be done?

Good chance she tells everyone to stuff it. She was the no brainer choice, and the “boys network,” instead rallied behind Brown.

——————————-

Uh, conan, were you asleep through the entire PC leadership race?

The “old boys network”; every last one of them, were for Christine. Patrick Brown was seen as an interloper from Ottawa who strode in, signed up a bunch of voters in minority communities where he had built rapport from his time as an MP, and won based on a good grassroots effort.

None of this is to defend Brown vis-à-vis current accusations, but seriously you need to get your facts straight. You seem to be blindly making things up.

#236 paul on 01.25.18 at 11:13 am

175 Drill Baby Drill on 01.25.18 at 12:33 am

Wynne is smiling now due to the PC leader not thinking with his head, the one with the grey matter in it.
——————————————————————–
That’s not a smile she is laughing all the time because the voters are so dumb.

Look at her track record with her family she suouldn’t throw stones with all that glass around her.

#237 Howard on 01.25.18 at 11:19 am

#229 conan on 01.25.18 at 10:46 am

#217 Sacre Blew on 01.25.18 at 10:05 am

“I believe there is a link to Carolyn Mulroney and we will see her take over as interm leader as soon as tomorrow.”

You think so? She is probably instead, thinking about ripping up her member ship card, and…………. , then running in Quebec, as a Federal Liberal.

——————————-

That makes no sense. If she were angry about Brown, then surely she’d be perfectly pleased that the party just forced him out?

#238 A J on 01.25.18 at 11:23 am

#184

“People put a lot more thought into buying a pair of shoes than a house….A fool and their money are soon parted. Always, always true.”

I completely agree. I’m blown away by some of my peers who bought during the peak of the market in April. They jumped into the market so quickly, I was shocked. I tried to convince many of them they were making a mistake, but they were convinced that houses were only going to appreciate in value. That they HAD to get in now or they would never get in. They bought over an hour drive from downtown, for 600K or more. One of my friends bought a 750K bungalow in the suburbs without an inspection. And then their roof had to be replaced within a month. I also had friends that as their houses accumulated in wealth, quickly opened lines of credit and did appearance based renos to their place. Replacing kitchens and siding, when it wasn’t needed (SO STUPID). I can tell you that a lot of people my age (early thirties) are in up to their eyeballs in mortgage and line of credit debt. I’m ashamed to say that many, as Jane said, “put a lot more thought into buying a pair of shoes than a house.” I’ve been researching the RE market for two years non-stop, and knew that buying during the peak was a huge mistake. But people treated me like a pessimistic leper. They told ME I was making a mistake by waiting. I had to listen non-stop to people talking about their net worth and how much their shacks had appreciated in value. Lately, crickets (thank goodness). I even lost a friend who full on attacked me for posting articles on social media about household debt levels and how real estate prices were unsustainable. I guess he didn’t want to face the truth about his pre-construction condo? Anyways, I appreciate your blog, it has helped me in my journey. I made the right choice to wait and invest in stocks. People shoved my face in it for not buying, should I do the same to them now? lol (I won’t). But it doesn’t take a genius to realize that when debt levels and house prices are at an all time high, that something has to give. Welcome to reality!!

#239 paul on 01.25.18 at 11:23 am

#223 PastThePeak on 01.25.18 at 10:40 am

I can’t wait to see the great things that Wynne will do in Ontario with another 4 years…
——————————————————————–
Wynne’s high hydro cost mean one thing

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

#240 Ian on 01.25.18 at 11:25 am

All you morons saying the PC’s are finished are on crack.

This Brown issue will NEVER distract nor deflect from the 300k manufacturing job loss, $300bln+ in debt, murderous electricity prices, and constant scandal after scandal.

Nice try though.

GO VIC FIDELI!!!!

UltraBlues on the rise 2018 & 2019

#241 IHCTD9 on 01.25.18 at 11:26 am

FFS, another one – this time a Liberal:

http://www.cbc.ca/news/politics/trudeau-davos-wraps-1.4503098

“On posts to Twitter, a woman said Hehr made women feel “unsafe” and made verbally suggestive remarks, including “you’re yummy.” ”

Men in Canada just may be best off to start looking for a job fishing for King Crab in the Bearing Sea.

I have no idea if I’ve ever made Women feel “unsafe” in the past.

I guess I’ll have hell to pay someday if I did.

#242 Smoking Man on 01.25.18 at 11:37 am

Brown quits , good. Bring in a hereto alpha chic and send the witch back to her cave.

#243 For those about to flop... on 01.25.18 at 11:39 am

Jumpin Jack Flash,it’s a gas,gas,gas…

M43BC

“The Highest Paying Jobs with the Most Growth Potential in 2018.

The American economy is finally humming along at a nice clip, and most people are optimisticabout the future. Some people are just not starting to see real wage growth, but not everyone. With so much disparity in economic outcomes, it got us thinking about the best jobs in the country.

We gathered information about the best jobs from U.S. News, including the average total compensation for each profession and the projected growth rate over the next decade. U.S News explored a variety of different factors as well, like the stress level and work-life balance associated with each line of work. We wanted to make things simpler. Each figure on our viz represents a profession, the size of which corresponds to the compensation level—the bigger the figure, the more money one can expect to earn. We then color-coded each figure based on future job prospects. Blue figures represent professions with under 10% in total growth, but dark green represents those professions with high growth potential, over 20%. We also arranged the figures in a pyramid, making the winning professions even more obvious. Our viz quickly reveals the best bets for finding a highly paid job in the future.
First off, the majority of the positions on the top half of the pyramid are from the medical profession. Anesthesiologists have the best prospects in terms of overall compensation, netting on average $269,600 each year with a projected growth rate of 17.8% in the available jobs. In fact, every job in the top three levels of the pyramid involve medical school of one kind or another, and they are universally expected to see strong job creation of higher than 10%. In short, going to medical school is still a solid path to earn a good living.

Things get more crowded further down the pyramid. The actuarial sciences are expected to see the strongest overall increase in demand, with 22.5% job growth in the coming years. That suggests actuaries are in for a pay raise as demand for their services outstrips the supply of labor. That being said, actuaries make on average $100,610 per year, not half as much as an anesthesiologist. $100k is nothing to sneeze at, but it’s not the type of work that quickly leads to riches. Political scientists are projected to see the slowest increase in demand, growing only 2.1% in total over the next ten years. Perhaps part of the reason is that political observers have been unable to foresee many of the major political events over the past few years, includingPresident Trump’s election.

Top 10 Highest Paying Jobs with the Most Growth
1. Anesthesiologist: $269,600 and 17.8%

2. Surgeon: $252,910 and 16.8%

3. Obstetrician and gynecologist: $234,310 and 17.9%

4. Oral and maxillofacial surgeon: $232,870 and 17.2%

5. Orthodontist: $228,780 and 17.3%

6. Physician: $201,840 and 14.9%

7. Psychiatrist: $194,740 and 13.1%

8. Pediatrician: $168,990 and 17.8%

9. Nurse anesthetist: $160,270 and 16%

10. Dentist: $159,770 and 17.2%

There are two things to keep in mind about all this data. First, high overall job growth doesn’t matter that much if the profession is small to begin with. For instance, oral and maxillofacial surgeons pull in $232,870 each year, and the profession is expected to grow 17.2% in a decade. But that’s only 1,200 total jobs. Good luck trying to get one! Second, there’s no telling how technology is going to disrupt various industries, including medicine. Do doctors really need so much training when big data can recommend tailored treatment plans specific to each patient’s individual situation? Innovative technologies might render all these projections moot. But that’s the best we can do for now, and for many people, the promise of $250K per year with strong job prospects is more than enough to make medical school an attractive option.”

https://howmuch.net/articles/highest-paying-jobs-america-2018

#244 paulo on 01.25.18 at 11:51 am

Hey guys The Deal Is A Deal welcome to real estate 101

I Think your problems have just begun, the 90K will look like a deposit on the actual loss of fair market value by the time the house is built.

i hear HGTV will be airing a new show in the fall:
The FONGO (fear of not getting out) Show this one will
feature well dressed accountants and bankruptcy trusty’s giving advice while trying to help indebted fools by showing them how loose the least and try to avoid bankruptcy. game on!

#245 Victor V on 01.25.18 at 12:04 pm

#240 Smoking Man on 01.25.18 at 11:37 am
Brown quits , good. Bring in a hereto alpha chic and send the witch back to her cave.

==================

Agreed. Solid options for the party:

– Caroline Mulroney
– Lisa Raitt
– Lisa MacLeod

#246 Stan Brooks on 01.25.18 at 12:11 pm

I watched the dumbsh.t in Davos

https://www.theglobeandmail.com/report-on-business/economy/bank-of-canadas-poloz-says-he-cant-predict-if-more-rate-hikes-are-to-come-in-2018/article37728410/

and liquidated immediately whatever little exposure I had to the CAD dollar and equities.

Note:
Bank of Canada Governor Stephen Poloz said on Thursday that even he did not know what potential there may be for further interest rate hikes this year, reiterating that policy makers remained both data-dependent and alert to developments with NAFTA.

“That’s a question even I don’t know the answer to. We’re being very open about that. So we’ve explained to people that there are a number of important issues that force us to not be mechanical or to use a rule or to plan ahead in that way. We’ve said we are totally data-dependent,” Poloz said in an interview with CNBC at the World Economic Forum in Davos, Switzerland.

he does not know what he is doing.

What if his data is bad?

#247 TurnerNation on 01.25.18 at 12:13 pm

The Purges are upon us. Nothing changes in history.
Anyone see movie The Corporation with Tom Cruise?

At a certain level of eliteness you must be controlled for obedience. They gotta get you on tape. They got T-rump talking about grabbing.
Some say the Playboy mansion served this purpose. Elites get invited, set up with a new friend, into rooms wired for recording. Then they tell you by they way they are a minor…and you travelled with them too. Transporting across State lines for the purposes off..
Several felonies, face 30-50 years in jail OR “how about it Sir, will you submit your resignation tomorrow? To make it easier on your family.” A done deal.

St. Patrick’s day came early for the globalists in Ontariowe.

#248 Tater on 01.25.18 at 12:24 pm

#218 IHCTD9 on 01.25.18 at 10:05 am
#208 Tater on 01.25.18 at 9:03 am

That’s why bubbles are so scary. You can stay well clear of them and still have your life messed up when they burst. Second and third order effects can be rough.
_____________________________________

The effects are totally avoidable, many will be entirely unmarked by them.

I’ll be a spectator if this event comes to pass, and not by accident.
—————————————————————-
If you can predict the second and third order effects of a 20 year credit bubble bursting, you should be able to make a ton of money. I bet you can’t and won’t.

Your definition of not being affected is that your standard of living won’t change. That’s fine, but your net worth will be affected.

#249 T on 01.25.18 at 12:48 pm

#139 Mark on 01.24.18 at 10:33 pm
“Our economy is booming. Employees will need to step up their game! Especially in tech!”

Sigh, that nonsense again?

A grand total of 1 job in the Computer/Software category on the BC engineering job board:

https://www.egbc.ca/Careers/Career-Listings?d=COMP&ps=25

——————

All you have to do is look where employees actually post jobs. You probably know this but it doesn’t help your arguments so you ignore it.

https://ca.indeed.com/m/jobs?q=Computer+Programmer&l=Vancouver%2C+BC

90 jobs in the Vancouver area alone from one source. Quite a few more on LinkedIn. No reputable company uses government job boards.

Like almost everything you post Mark, very slanted and incorrect.

#250 T on 01.25.18 at 12:50 pm

#139 Mark on 01.24.18 at 10:33 pm

*where employers actually post jobs.

Autocorrect…

#251 Not a Globalist just a Man on 01.25.18 at 12:52 pm

#176 Smoking Man on 01.25.18 at 12:41 am

#149 conan on 01.24.18 at 11:08 pm
Patrick Brown just moved into the “not cool” column. This sways the election, unbelievable.
………………………..
Let’s see hajab hoax Wynee people involved, press conference 45 minutes after the attack.. CTV a globalist pusher and pimp has two woman that will remain hidden come up with these allocations. Is anyone surprised.
I wish they were true. Brown’s a goof. Like him about as much as I liked Whodat. But the globalist will stop at nothing to get there one world govt. Then we are all fkd.

Bottom line. Men will always risk an unwanted kiss to get the girl. Its how we are wired. Woman will always dangle something cute to get that kiss and see what can get off the idiot.

And sometimes this game turns to love and kids and family.
Globalists don’t like that.
Globalist are dividers not Uniters.
____________________________________
You truthfully are a piece of misogynistic fecal matter Smoking Man. I surmise you still slog your knuckles along the ground, scratch your small testicles and then sniff your posterior. Most men have moved beyond your archaic medieval way of thinking and actually treat women as equals. Do you still treat your “Old Hag of a Wife” as you often have so rudely referred to her on this blog this way? Never mind, I’m surprised she hasn’t left you yet, or has she?

#252 People are Strange on 01.25.18 at 12:53 pm

#178 IHCTD9

Gong show….maybe. But nothing comes close to this bunch of slimeballs in power right now. First you had McGuinty who broke every single promise he made in his bid for leadership. Then, the scandal of gas plants and ehealth, to only name a couple. Forcing turbines down our throats, creating enemies of neighbours in farmlands across Ontario…all in the name of stopping NIMBYism. Sorry, I thought it was a freee country where you could choose what happens in your back yard. Not in the Socialist Republic of Ontario.
Don’t even get me started on the quack that the baton was passed to. She ran on transparency….and we end up with the least transparent gov in Cdn history. She’ll do anything to stay in power. Anything!

#253 KLNR on 01.25.18 at 12:54 pm

@#246 Tater on 01.25.18 at 12:24 pm
#218 IHCTD9 on 01.25.18 at 10:05 am
#208 Tater on 01.25.18 at 9:03 am

That’s why bubbles are so scary. You can stay well clear of them and still have your life messed up when they burst. Second and third order effects can be rough.
_____________________________________

The effects are totally avoidable, many will be entirely unmarked by them.

I’ll be a spectator if this event comes to pass, and not by accident.
—————————————————————-
If you can predict the second and third order effects of a 20 year credit bubble bursting, you should be able to make a ton of money. I bet you can’t and won’t.
_________________________
Your definition of not being affected is that your standard of living won’t change. That’s fine, but your net worth will be affected.
_________________

Bingo.

#254 SoggyShorts on 01.25.18 at 1:24 pm

#192 Ace Goodheart on 01.25.18 at 7:04 am
Pick one thing that will do well in ten years:

OK: I really like the technology behind hydrogen batteries.
Also very interested in virtual reality “helmets”
**************
See? Even when you say you are going to pick one thing you pick a second one immediately. Diversification.

I like those picks, and I think they may do well. There are however others that you didn’t mention that will do better, although due to lack of crystal ball technology, we don’t know for sure what those are, so it’s probably not a great idea to dump all of your money into 1 battery company, or 1 VR company, or even one of each.

If you look at a house as an investment, you have to look at it as a single stock. One with some drawbacks such as huge MER (land transfer taxes, realtor fees, maintenance etc)
It is also a leveraged purchase, but unlike borrowing to invest in other things, this time you can’t write off the interest. This is weighted against a possible tax free cap gain down the road.
If you have a nice sized diversified portfolio, adding one stock to your pile of ETFs is fine, but adds more risk the more it takes up in your portfolio as a %.

You kinda crapped on Garths advice to not sink everything you have into a single house on a single street, but what then would have been better advice? The opposite would be to have told everyone to liquidate their portfolios, borrow as much as they can from the bank of mom and real banks to buy 1 house. Yes, he would have created some millionaires, but he would have screwed far more people.

#255 PastThePeak on 01.25.18 at 1:46 pm

Survey of the average Canadian on the price of housing

Q: Do you think the price of housing in Canada is too high, and should the government intervene to lower the price of housing?

A: YES!!! (emphatic)

Q: Do you understand that if you own a house, this would mean the value of your house would go down?

A: ?????? (does not compute…error…error)

#256 Duke on 01.25.18 at 1:51 pm

#253 PastThePeak on 01.25.18 at 1:46 pm
Survey of the average Canadian on the price of housing

Q: Do you think the price of housing in Canada is too high, and should the government intervene to lower the price of housing?

A: YES!!! (emphatic)

Q: Do you understand that if you own a house, this would mean the value of your house would go down?

A: ?????? (does not compute…error…error)

==================

So true.

#257 IHCTD9 on 01.25.18 at 2:03 pm

#246 Tater on 01.25.18 at 12:24 pm
#218 IHCTD9 on 01.25.18 at 10:05 am
#208 Tater on 01.25.18 at 9:03 am

That’s why bubbles are so scary. You can stay well clear of them and still have your life messed up when they burst. Second and third order effects can be rough.
_____________________________________

The effects are totally avoidable, many will be entirely unmarked by them.

I’ll be a spectator if this event comes to pass, and not by accident.
—————————————————————-
If you can predict the second and third order effects of a 20 year credit bubble bursting, you should be able to make a ton of money. I bet you can’t and won’t.

Your definition of not being affected is that your standard of living won’t change. That’s fine, but your net worth will be affected.
_____________________________

My net worth will be going up as long as my investments are positive. Portfolio is mostly foreign investment. Any house depreciation will not be sufficient to drag the portfolio gains into the red as the house just isn’t worth enough to cause big $ losses.

The chance of my Net Worth going down in an unwinding RE market is basically zero as it will absolutely require several years of sustained losses in my investments which has never happened even once in almost 20 years.

I don’t really see what I need to worry about.

#258 Mike in Toronto on 01.25.18 at 2:07 pm

#249 Not a Globalist just a Man

He sounds old in his ways, but the excessive attention to an 11 year old’s Hijab, the media so quick to jump on something supporting their narrative, is true.

Even the statement about the difference between women and men in courtship is true.

Your suggestion of the size of his testicles, his relationship with his wife and what he does with his butt…?

It’s important to be critical of the media, sometimes these viewpoints go against what is politically correct, but your anti-male characterizations of Smoking Man for challenging this status quo are horribly sexist. I wouldn’t say anything, except that you seem to be doing it in the name of accusing him of the same.

Not that I ever thought I would defend the guy. I don’t know what’s wrong with him.

#259 IHCTD9 on 01.25.18 at 2:13 pm

#250 People are Strange on 01.25.18 at 12:53 pm
#178 IHCTD9

Gong show….maybe. But nothing comes close to this bunch of slimeballs in power right now. First you had McGuinty who broke every single promise he made in his bid for leadership. Then, the scandal of gas plants and ehealth, to only name a couple. Forcing turbines down our throats, creating enemies of neighbours in farmlands across Ontario…all in the name of stopping NIMBYism. Sorry, I thought it was a freee country where you could choose what happens in your back yard. Not in the Socialist Republic of Ontario.
Don’t even get me started on the quack that the baton was passed to. She ran on transparency….and we end up with the least transparent gov in Cdn history. She’ll do anything to stay in power. Anything!
____________________________________

Trust me, I’m no fan of the Ontario Libs who are singlehandedly destroying every private sector job in the economy.

But I just can’t get over the Conservatives efforts since Eves was booted. It’s stand up comedy, despite what happened to Brown I already thought he was a ROTTEN candidate well before we learned he tried to get laid.

This province won’t survive much longer under the Libs, that is why I’m voting for Wynne. Just get it over with already. She has no clue outside the SJW tripe, so she represents the quickest path to the sagging, limp revenues needed to really get some damage done.

#260 jess on 01.25.18 at 2:22 pm

“The banks can borrow money at 0.5% from the Fed and then lend it to the payday lenders.”

http://www.stltoday.com/opinion/editorial/editorial-payday-lenders-find-friends-at-the-consumer-financial-destruction/article_842e4619-2315-5bba-bf3c-e38f60c4dd9a.html

18,000 payday loans : how many mcdonalds?

Trumps new guy leftie loosies the dial while the industry players congregate at trump golf course for drinks and high fives
https://www.dcreport.org/2018/01/25/making-the-world-safe-for-loan-sharks/

nope
Payday Lending Faces Tough New Restrictions by Consumer Agency

By STACY COWLEYOCT. 5, 2017

https://www.nytimes.com/2017/10/05/business/payday-loans-cfpb.html

#261 Smartalox on 01.25.18 at 2:36 pm

Vancouver Affordability Myths BUSTED!

A Facebook friend who is (an increasingly desperate) Vancouver Real Estate agent posted a link to this article from the Vancouver Courier, stating that this is how she responds to people who say that Vancouver is so unaffordable.

It’s not that Vancouver is so unaffordable… it’s that the math is all wrong, so says the author of this opinion piece published in the Vancouver Courier.

Bracing for the coming publication of a study that says that Vancouver is (yet again) one of the most unaffordable cities on earth, this article sets out to de-bunk that long-standing myth.

Some pearls of wisdom from the opinion piece:

– Affordability is high, BECAUSE prices are so high: while average prices are high, (Average Price $1.02M) but new mortgages are low, (Average Mortgage $436k) because 70% of sales are to non-first time buyers. These buyers use their substantial, built-up equity and inheritances from the sale of parents’ equity to keep their costs low.
– For this reason, even though an average $400k+ mortgage takes up 36% of the average $78k income, the cut-off for ‘un-affordable’ is 32% of income, so they’re really, just barely over the cut off.
– In fact 50% of homes have no mortgage at all! These pricy homes are owned by ‘millionaires’ who collect CPP, but can still ‘afford’ their pricey homes (technical term) with such low incomes, because they bought 40 years ago.
– Vancouverites enjoy much larger homes (at lower median square foot prices) than places like London or Manhattan
– The cost of transport to the city’s core is not factored into the assessments, where Metro Vancouver homes are closer(?) to the city’s core (unlike London, or Manhattan which aren’t?)
– Interest rates in Canada are really low, but in other locales MAY be higher – making mortgage payments more onerous.
– Paris is left out of the ranking. Paris is expensive, too. So the ranking should be invalidated.

http://www.vancourier.com/real-estate/opinion-let-s-get-real-on-real-estate-affordability-studies-1.23152640

#262 Stan Brooks on 01.25.18 at 2:37 pm

#249 Not a Globalist just a Man on 01.25.18 at 12:52 pm

You are an idiot/ess.

Ever watched how cats mate?
It is pretty much what Smokey describes.

It is wired in your/any animal genes.
A survival/reproduction of the species instinct.
You can’t override that with leftist agendas.

Try it on cats first.

#263 IHCTD9 on 01.25.18 at 2:39 pm

#249 Not a Globalist just a Man on 01.25.18 at 12:52

You truthfully are a piece of misogynistic fecal matter Smoking Man. I surmise you still slog your knuckles along the ground, scratch your small testicles and then sniff your posterior. Most men have moved beyond your archaic medieval way of thinking and actually treat women as equals. Do you still treat your “Old Hag of a Wife” as you often have so rudely referred to her on this blog this way? Never mind, I’m surprised she hasn’t left you yet, or has she?

______

Uh Oh!

Stark raving mad misandrist alert!

#264 For those about to flop... on 01.25.18 at 2:40 pm

Affordable Housing Report.

I have been detailing how the entire detached segment is being shunned for about a year now,no matter the price bracket.

I have followed houses in my neighbourhood and options that would have flown off the shelf in Spring 2016 ,had they been on the market ,have been made to pay for waiting a year or so too long.

Just last week I showed a house on Windsor that took a loss after expenses,even though it was directly opposite a school in a respectable part of Vancouver.

Also showed a house on Inverness that took a 15% loss after expenses even though both these options could be had for less than 1.6.

This option below on Culloden in another one in my hood that is struggling despite its overall modest asking price.

They just took another 100k off last week and overall 200k or 15% and this is the bottom rung of the ladder in Vancouver proper…

M43BC

5715 Culloden Street, Vancouver

Aug 28:$1,339,900
Jan 24: $1,138,000
Change: – 201900.00 -15%

https://www.zolo.ca/vancouver-real-estate/5715-culloden-street

Feel free to make a donation.

Flop For Fox Fund…

http://www.terryfox.org/get-involved/ways-to-give/

#265 jess on 01.25.18 at 2:40 pm

hard to sell your large home if your well water has this in it

http://www.truth-out.org/news/item/43247-millions-of-americans-are-ingesting-a-chemical-some-experts-believe-has-no-safe-exposure-level

#266 Midnights on 01.25.18 at 2:46 pm

Multiple offers now common in Toronto condo rental market..
https://www.theglobeandmail.com/real-estate/toronto/multiple-offers-now-common-in-toronto-condo-rental-market/article37705784/

#267 InvestorsFriend on 01.25.18 at 3:03 pm

I Wanted Stability In My Portfolio

I don’t like bonds much so I allocated more than usual to cash – around 20 to 25% cash. This included in the U.S. part of my portfolio.

I got rock solid 100% stability plus some very tine return on that part of my portfolio.

One has to be careful what they wish for as the 75% or so of my portfolio left in equities has done far better.

Stability has an opportunity cost.

Only Cash offers 100% stability plus immediate liquidity.

After the fact, cash may turn out to be a good choice, or not.

#268 Newcomer on 01.25.18 at 3:10 pm

#251 KLNR on 01.25.18 at 12:54 pm
@#246 Tater on 01.25.18 at 12:24 pm

_________________________
Your definition of not being affected is that your standard of living won’t change. That’s fine, but your net worth will be affected.
_________________

Bingo.
———-
I don’t get it. If you’ve got 1 M or 10 M, if it throws off enough for the same lifestyle and it keeps doing that what difference does the number make? I’m in it for the lifestyle, not the number.

#269 PastThePeak on 01.25.18 at 3:36 pm

#257 IHCTD9 on 01.25.18 at 2:13 pm
#250 People are Strange on 01.25.18 at 12:53 pm
#178 IHCTD9

This province won’t survive much longer under the Libs, that is why I’m voting for Wynne. Just get it over with already. She has no clue outside the SJW tripe, so she represents the quickest path to the sagging, limp revenues needed to really get some damage done.
===================================

In my idle time, I do wonder if Ontario has passed the tipping point with no viable recovery other than a “to be invented” process for provincial bankruptcy. A huge & sustained cash infusion from Ottawa, Canada’s on QE – something to kick the can down the road mainly.

Ok, so probably not there yet, but it can’t be that far away. Anyone with a bit of sense and reads the news just a little knows that Ontario has not balanced its real budget at all (billions of debt still added each year), but that the operational budget is set to go back into the red again as well.

Think about it – at a time of pretty strong (though perhaps debt funded) Canadian growth, with personal taxes & sales taxes (Ont. portion of HST) at highest levels in decades, fees growing faster than CPI – Ontario’s is racking up big debts. A true balanced budget, where debt added is 0, is no where on the horizon, when times are good.

What more tax revenue can Ontario bring in? Highest tax bracket (at $220K) takes 54% marginal tax. Could raise corp rate a bit, but that would accelerate moves to US. Raise their HST portion brings in the most $$, but hits the poor hardest, and pushes more underground.

Consumer & business debt at all time highs, with the housing situation, implies that the next recession will be a whopper. If a Liberal or NDP gov’t in power, there will be little cuts to expenses, so you can bet the deficit (true deficit) will probably hit about $20B/year. Total debt will rapidly hit $400B, probably accelerating to $500B shortly thereafter due to credit downgrades & lack of any meaningful growth with debt hangover.

How does Ontario get out of that? Maxed on taxes, crushing debt, mounting interest payments. Sounds like Ontario will become the GTA housing sector…

#270 A J on 01.25.18 at 3:47 pm

#260

Comparing cats and humans is a ridiculous comparison. Humans have ethics and morals, which cats do not. We have the ability to push back on our animal instincts in order to do what’s right. If that wasn’t the case, there’d be no society. Go ahead and compare yourself to an animal if that makes you feel better about your behaviour. But you should be viewing humans as they are, a different breed all together, with a brain large enough that we should be able to control ourselves.

#271 paul on 01.25.18 at 3:48 pm

#264 Midnights on 01.25.18 at 2:46 pm

Multiple offers now common in Toronto condo rental market..
https://www.theglobeandmail.com/real-estate/toronto/multiple-offers-now-common-in-toronto-condo-rental-market/article37705784/
—————————————————————–The last rental I was involved in the tenant offered and paid 1st. and last six months on an 18 month lease.

#272 A Yank in BC on 01.25.18 at 3:50 pm

What in the world is the big deal about Patrick Brown’s supposed indiscretion? Would’ve been a slow day for Donald Trump.. or Bill Clinton for that matter.

#273 paul on 01.25.18 at 3:56 pm

Anyone want to play hockey? Oh wait no hockey boy Justin knows how to spend our tax dollars. 2.5 Million off budget I guess it will balance itself!

https://www.ctvnews.ca/canada/keeping-canada-150-rink-open-will-cost-taxpayers-an-additional-2-5m-1.3775572

#274 conan on 01.25.18 at 3:57 pm

“Uh, conan, were you asleep through the entire PC leadership race?”

Yes.

https://youtu.be/xR4nUPviMQM?t=4

#275 Don Wan on 01.25.18 at 4:12 pm

#270 A Yank in BC on 01.25.18 at 3:50 pm
What in the world is the big deal about Patrick Brown’s supposed indiscretion? Would’ve been a slow day for Donald Trump.. or Bill Clinton for that matter.
*******
In the distant past, I had my hand slapped a few times, but we were BOTH 16. Do you have trouble with numbers? What time have you got on your watch? I got 2 minutes to Doomsday.

#276 Stan Brooks on 01.25.18 at 4:14 pm

#268 A J on 01.25.18 at 3:47 pm
#260

Comparing cats and humans is a ridiculous comparison. Humans have ethics and morals, which cats do not. We have the ability to push back on our animal instincts in order to do what’s right. If that wasn’t the case, there’d be no society. Go ahead and compare yourself to an animal if that makes you feel better about your behaviour. But you should be viewing humans as they are, a different breed all together, with a brain large enough that we should be able to control ourselves.

————————–

Nobody talks about copulating on the street.

if you watch cats, which you have not, you will see that there is courting initiated by the male but requires the female agreement.

female does not initiate courting. with humans they do.

——————

Ethics? Who has ethics? The PM or the french villa guy?

Push down animal instincts?

This world is driven by sex and even housing is a nesting instinct.

Why not push that down? Tell that the government.

#277 Stan Brooks on 01.25.18 at 4:18 pm

And morals? Talking about morals when force screwing the small businesses? Tel that wild bill.

#278 n1tro on 01.25.18 at 4:20 pm

#268 A J on 01.25.18 at 3:47 pm
#260
Comparing cats and humans is a ridiculous comparison. Humans have ethics and morals, which cats do not. We have the ability to push back on our animal instincts in order to do what’s right. If that wasn’t the case, there’d be no society. Go ahead and compare yourself to an animal if that makes you feel better about your behaviour. But you should be viewing humans as they are, a different breed all together, with a brain large enough that we should be able to control ourselves.
—————
I think it is wrong to take the high road and say that because humans have a brain that they can control their behavior thus negating our hard wiring which is animalistic in nature and drives a lot of our behavior. Deny it all you want but if a heterosexual male in his prime sees an attractive female, married or not, he is thinking about bone’ing her. Anyone whos says otherwise is a liar or a female. Just because some are better at suppressing the urges doesnt change the animalistic programming which is what is being eluded too with all these examples of inappropriate behavior.

#279 Not a Globalist just a Man on 01.25.18 at 4:24 pm

#260 Stan Brooks on 01.25.18 at 2:37 pm

#249 Not a Globalist just a Man on 01.25.18 at 12:52 pm

You are an idiot/ess.

Ever watched how cats mate?
It is pretty much what Smokey describes.

It is wired in your/any animal genes.
A survival/reproduction of the species instinct.
You can’t override that with leftist agendas.

Try it on cats first
_____________________________________
We are not cats…………………………..:)
If we were cats we couldn’t type on Smart phones with our little paws. Smoky is a low brow, I can deduce that quite easily from his words.

#280 LivinLarge on 01.25.18 at 4:26 pm

Welcome to Canadian politics Yank: “What in the world is the big deal about Patrick Brown’s supposed indiscretion? Would’ve been a slow day for Donald Trump.. or Bill Clinton for that matter.” there’s an election in Ontario in 5 months and leading a party into an election with even unsubstantiated allegations hanging means no Conservative Premier for us.

#281 NOT COOL INDEED on 01.25.18 at 4:26 pm

Mattamy should reimburse them $45K since I heard they were going to split the profit with Mattamy if the price goes up $90K.

#282 IHCTD9 on 01.25.18 at 4:29 pm

How does Ontario get out of that? Maxed on taxes, crushing debt, mounting interest payments. Sounds like Ontario will become the GTA housing sector…
___

Not getting out. Taxes/Fees is all they really have. Making cuts is political suicide.

Hard to believe, but revenue problems will lead to big taxes/fees. Eventually revenues will stop increasing no matter what they do, what then is anyone’s guess

#283 Gravy Train on 01.25.18 at 4:33 pm

#265 InvestorsFriend on 01.25.18 at 3:03 pm
“… After the fact, cash may turn out to be a good choice, or not.”

Warren Buffett says that cash is a call option on every asset class, with no expiration date or strike price.

But then you already knew that, didn’t you? :)

#284 Stone on 01.25.18 at 4:37 pm

#266 Newcomer on 01.25.18 at 3:10 pm
#251 KLNR on 01.25.18 at 12:54 pm
@#246 Tater on 01.25.18 at 12:24 pm

_________________________
Your definition of not being affected is that your standard of living won’t change. That’s fine, but your net worth will be affected.
_________________

Bingo.
———-
I don’t get it. If you’ve got 1 M or 10 M, if it throws off enough for the same lifestyle and it keeps doing that what difference does the number make? I’m in it for the lifestyle, not the number.

——-

That’s the right idea. Tater just hasn’t made the leap yet to that level of understanding. You’re way ahead of him.

#285 LivinLarge on 01.25.18 at 4:45 pm

“Sorry, I thought it was a freee country where you could choose what happens in your back yard. Not in the Socialist Republic of Ontario.”…once upon a time, in a magic kingdom, far, far away.

It hasn’t been that way since 1867 in this country 1HC. We still sort of some control over what we put in the “back yard” we actually pay property taxes on but just barely, some of the time, maybe.

Like the turbines or don’t but the government had the authority to make it happen and they did. I never heard of one farm family relate how they were told to move their pool or picnic table so a turbine could be built against their wishes.

But I have heard a few families complain that their community association forced them to take down a cloths line because it didn’t fit the rules.

Life sucks but the last time we had true control over what happened around us, we were abusing and stealing land from indigenous people.

#286 Ronaldo on 01.25.18 at 4:53 pm

#188 Stone on 01.25.18 at 6:31 am

#52 Commitment on 01.24.18 at 6:59 pm
All I know is that renters are pathetic people who don’t build communities. A community requires commitment. Owning a home is a sign of commitment. If I find out someone is a renter during the hiring process, it usually signals the end their hiring process. Bums need not apply.

————-

I suppose common sense does not prevail in your world. Time to get back on your medication.
—————————————————————-
Can you possibly imagine working for someone like that?

#287 A J on 01.25.18 at 4:55 pm

#274

This is the last I’ll comment on this, because it’s not the place (at all), but would you use that same defence to explain away murder? Animals kill each other all the time, so should humans be free to do the same? That is all on that topic. Back to RE….

#288 earthboundmisfit on 01.26.18 at 7:27 am

Frogs and dogs, rapists and papists ….. thanks a lot buddy, I spewed my morning java all over my laptop.

#289 Trudope on 01.28.18 at 8:28 am

The mortgage shortfall will balance itself!

Book in at Astrid and Sheldon’s newly renovated cottage. Don’t forget to ask for a refund if prices drop!

http://www.ricelakeon.com