Ma folie

Let’s forget Trump, China, the markets and rates for one day. Deal?

Three winters ago I told you about losing my mind and buying a 127-year-old brick structure with bad wiring, no insulation, leaky roof, crumbly bricks, tilted floors and attitude. For eight years it had sat fallow after the last owner failed at the intersection of Old Main Street and Forks of the Credit Road, 45 minutes north of the CN Tower.

I was about to prove that old adage: if you have too much money, buy an old building. Problem solved.

The Belfountain General Store opened in 1888 when the area buzzed with quarry workers, tree-cutters, mill employees and farmers enjoying the fruits of the post-Confederation wheat boom. Everyone needed a place to get the mail, buy supplies, booze up and sit around the stove bragging.

Over decades the pile of bricks ebbed and flowed with the economy and society. When horses went and cars came, it sank. Big box stores a few miles away almost killed it. The economics of scale were definitely against a country store that tried to compete selling milk, batteries, nails and frozen pizzas. Successive owners lacked the cash flow to care for this tarnished historic and architectural gem. So the porch rotted. Bricks fell out. The stone basement became a no-go zone. The water cistern silted in. Commuters drove on by.

“You did what?”, Dorothy said, upon hearing the news. But I was smitten. Alas, even I am not immune to the tingles of real estate ownership – actually, the potential of it. And here was so much.

The gut reno took four months and the store opened two Aprils ago. This time its focus was not on groceries, but experiences. A vintage ice cream parlour with 26 flavours, gourmet hand-made dog biscuits, a full-service deli café plus racks and tables full of local foods, crafts and arts. This time the customer base was not the locals (who are now in love with Home Depot and the Loblaws Superstore), but day-trippers, hikers, tourists and anyone who wants to escape the Big Smoke for a few hours to go rural and walk back into a 19th-Century quirky, crooked, aromatic anachronism.

 During the first season Lorna emerged from among the cadre of employees as the natural leader. A foodie with a background as a professional buyer, she also had the patience and understanding to deal with a squad of teenagers and college students that scared me. So I made her boss. Good move. In the first year the General Store generated enough cash to finance itself – pay for all the stuff, the staff and the taxes. Pay me back? Not a chance.

The second year Lorna’s squad expanded to 19 employees and her menu blossomed. The ice cream parlour rocked, the outside patios were full, entertainers were brought in for long weekends and the product lines grew wildly. So did sales. They more than doubled. Suddenly we had enough money to replace the geriatric air conditioner ($9,000) and reroof the main building and the storage structure ($17,000). And don’t even ask about the HST. It got handled. But pay me back? Forget it.

So now Season 3 begins in a week. After being shut for a couple of winter months, the Belfountain General Store opens Good Friday, bunnies or no bunnies. The challenges this year are a little less on one hand – enhanced customer base and reputation, good suppliers and cool employees – but greater on another – a big jump in Ontario minimum wages, fatter electric bills, more employee-centric labour laws.

Running a small business is not the utopia of big cash flow and deep write-offs that many Canadians think. It is pure risk, tinged with anxiety under a constant overhang of failure. Worrying about customers is sometimes secondary to fighting city hall, the roads department, the CRA, the health inspector, the conservation authority, regional government or the bylaw enforcement officer.

Despite that, there are still tingles when I drive to this property, hang around outside with people and their dogs, scoop ice cream for kids or watch the young employees shimmy their way through shifts. Because Lorna is the boss, my most responsible job now is sweeping the patio. I’m good with that.

But I want fifteen bucks an hour.

205 comments ↓

#1 NotLegalAdvice on 03.22.18 at 6:04 pm

Lets see 15 bux an hour happens!

Ps. first !

#2 Guy in Calgary on 03.22.18 at 6:07 pm

I will be stopping by when visiting some friends in Ontario this summer. Look forward to it!

#3 earthboundmisfit on 03.22.18 at 6:08 pm

Good on ya, mate.

#4 Retired in Kelowna on 03.22.18 at 6:11 pm

Garth, This is so cool. Great vision on your part. I hope to be in Toronto this summer and plan on making a trip to your store and hopefully catching up with you.
Awesome!

#5 mitzerboyakaQueencityKidd on 03.22.18 at 6:11 pm

nice place Garth

if in i’m ever out east ill stop in
double chocolate coffee cone with extra sprinkles
please

#6 timoftrees on 03.22.18 at 6:11 pm

It’s on our way to the MTB circuit of Hardwood Hills, Mansfield and Albion! The little guys love the running stream at the back, there is Garth wiping down the creamer area, picking up after people who haven’t learned to pick up after themselves, yet ( like, really, folks…) and just making sure it’s perfect.

That is pretty cool.

#7 Freedom45 on 03.22.18 at 6:12 pm

I have been to your store several times and the staff and food are awesome. My partner and I will return and this time I will bring my dogs :)

#8 Zapstrap on 03.22.18 at 6:16 pm

Maybe you will get here one day Garth:
Walked by a small restaurant the other day that was full up inside with a lunch crowd. Outside were about 20 people standing in 2 lines waiting to get in. All young well dressed working spawn. I asked one of the one’s in the line why there were 2 lines. Her reply was “the other line moves faster because they paid $20.00 extra to be in it.”
Maybe you really don’t want to get there though.
Either way … all the best this year.

#9 I’m stupid on 03.22.18 at 6:18 pm

This store suits your personality. My guess is that you created a retirement business. A labour of love, filled with people to talked to. Good for you.

I personally think I’ll get a job as a starter on a golf course when I’m retired. Nice weather, and lots of people to talk to.

#10 ole Doberman on 03.22.18 at 6:19 pm

Gartho the store is a substitute for those who never had kids

#11 Lost...but not leased on 03.22.18 at 6:19 pm

Soooo…

When’s the pot license coming ?

#12 Dead Cat Bounce on 03.22.18 at 6:20 pm

It’s a beautiful building Garth ! Thank-you for saving it !!!

#13 Linda on 03.22.18 at 6:20 pm

Looks lovely & here is hoping that good weather will accompany the store opening. In our neck of the woods spring is still to come, no matter that ‘the equinox’ has officially arrived. For now I’ll satisfy my craving for green growth by lurking in greenhouses of our local garden centers. Looking forward to seeing what is being brought in & finding some new plants to try out in my garden once the ground thaws enough.

#14 Reality is stark on 03.22.18 at 6:23 pm

I normally don’t give compliments, but you are definitely an idea man Garth.

#15 Christy Clark Knew on 03.22.18 at 6:25 pm

Attorney General Dave Eby says bcliberals knew about scope of money laundering in BC casinos & did not act in time. So he’s going to Ottawa to demand help from federal govt.

https://omny.fm/shows/steele-drex/what-will-the-consequences-be-for-money-laundering

#16 Ex Pat Canuck on 03.22.18 at 6:25 pm

LOL. I want $15 an hour too…owning a small business, it is nothing but working long hours for a small amount of pay. Very rewarding in many other ways though…

#17 espressobob on 03.22.18 at 6:28 pm

Actually, that’s 4.5 hours from the CN tower by bicycle.

But who’s counting?

As far as 15 bucks an hour for Garth? Way too much.

#18 Ian on 03.22.18 at 6:29 pm

Was a true joy to visit last summer, Garth. Absolutely love older buildings like that and you did a great job fixing it up!

My whole family is small business owners so I love this stuff. I know exactly what you mean about it being difficult. Too much regulation and costs too high!

I’m in for 1 April and that Sat before May long weekend!
Really hoping to meet you finally!

We’ll talk about the stock market tomorrow, lol. Kablooey!

#19 NumNum on 03.22.18 at 6:32 pm

I would love to visit and have a chance to talk to Garth but I have a feeling he is too busy writing this blog.

#20 Victor V on 03.22.18 at 6:33 pm

Our family visited your store last year, Garth. We had a lovely time.

We’ll be back again this year.

#21 SW on 03.22.18 at 6:33 pm

Everyone needs a project…what else are we going to do with our time, once we have enough to live on, apart from walking the dog?

Fixing old stuff is expensive but fun. And it would be such a shame for that fabulous old building to be torn down. Canada often doesn’t value its architectural heritage, which is why there are so few good old buildings remaining.

Virtue and a good reputation are their own reward, I’d say.

#22 Ronaldo on 03.22.18 at 6:33 pm

Wish I was closer. Would love to see it. Have a great season Garth. It’s an awesome looking place.

#23 renter in Surrey on 03.22.18 at 6:33 pm

Great story Garth, thanks!

OK blog dogs, we have a problem.
I’ve been renting 2brm condo for almost 7 years in Surrey (yeah, yeah, I was that moron who thought prices would go down to reasonable level, but that ship is sailed now). Last year rent was $1250 per month. Now owner wants either $1650 or kick me out.

The question is what do I do now?
Bend over? Move out and rent again?
Bite the bullet and get into mortgage up to my ears to buy 400 sq.f. condo in Abbotsford?
Run to Mexico?

Any tips will be greatly appreciated.

#24 FreeBird on 03.22.18 at 6:33 pm

Congrats. I’m convinced entrepreneurship is in the blood of some (or we’re just crazy). Good lesson to all who are thinking of making the leap…know your cash flow and your limits and when you find good people or advisors keep them. Like Lorna.

#25 Rid the Spec Tax - Bring on the Vancouver Developers into Kelowna on 03.22.18 at 6:35 pm

Who is buying 1.5M condo units in Kelowna?

The Vancouver Model is morphing into a subsequent 2.0 model as Vancouver developer money chases yield in their new target market: Kelowna, BC.

The mayor is selectively restricting the development of SDFs to protect home values in neighborhoods while opening the flood gates on condo towers spearheaded by Vancouver developers and foreign financed.

This is why the want the spec tax killed off so that foreign interests do not move elsewhere.

Coal Harbor 2.0 coming to Kelowna, BC.

https://www.castanet.net/edition/news-story-221794-1-.htm#221794

#26 Kool Aid on 03.22.18 at 6:36 pm

Our family ventured up for some ice cream in season 2, we’ll do it again this season, great spot, be proud Garth.

#27 BC is Lost on 03.22.18 at 6:36 pm

Re: #6

Bend over and take it. 1650 is still not bad.

#28 akashic record on 03.22.18 at 6:40 pm

“But I want fifteen bucks an hour.”

That’s for Lorna. You got tingles and the potential, what she doesn’t. How many hours can you honestly rake up sweeping, anyway?

The universe is in balance – as always.

Jokes aside, congratulations, great job, people who can manifest their ideas and dreams are gifts to enrich our realities.

#29 crowdedelevatorfartz on 03.22.18 at 6:40 pm

A classic old bricks and mortar business…..does it get any better?

#30 Current Status in BC on 03.22.18 at 6:40 pm

Everybody I am talking to right now is living like a college student right now in BC, particularly Vancouver.

Owners renting half the place out to stay afloat. Living in their own basement.

People playing it safe without going into debt. while having rent eat 60% of their pay cheque.

EVERYBODY I am talking to is telling me this.

This is the most messed up society supposedly first world place that I have ever seen.

#31 Bob Dog on 03.22.18 at 6:41 pm

What about appreciation in the value of the property. Surely its could be sold for much more than it cost 3 years ago.

#32 david on 03.22.18 at 6:41 pm

i used to go to that store. Very nice. I always wanted to run into Garth but never did so i stopped going. The store should market its Garth better.

#33 Doug Ford on 03.22.18 at 6:42 pm

Bring back the housing bubble. Scrap the foreign buyers tax. Roll everything back.

Let’s make Toronto great again.

#34 acdel on 03.22.18 at 6:43 pm

Congrats to all of you, well done!

#35 Mr.Worldwide on 03.22.18 at 6:49 pm

Re: #27

Make money, make money, Toronto real estate is how you make money.

Ooh, baby, baby.

La, la, la, la, la, la.

#36 Ronaldo on 03.22.18 at 6:49 pm

#23 renter in Surrey on 03.22.18 at 6:33 pm

Read this:

https://www2.gov.bc.ca/gov/content/housing-tenancy/residential-tenancies/during-a-tenancy/rent-increases

#37 Homeless in BC on 03.22.18 at 6:52 pm

Couple of week ago an analyst was talking on BNN about marijuana stocks. He was asked if he thought the US federal gov’t would legalize it under pressure from the states that have already legalized it. He replied, “Watch Trump, when he starts yapping about the opiode crisis, you know he is getting around to legal marijuana” Sure enough the MSM has articles about Trump and the opiode problem. He said California has been growing weed for 100 years and can produce it for pennies per gram. When it is legal in the US they will bury the high cost producers like the ones here in Canada.
Expect the Senate to vote down legal weed bill and approve one just before the next election so Lord Farquaad can claim he kept his promise.

#38 Clear Spec Tax - Open Money Flow on 03.22.18 at 6:53 pm

Who is buying 1.5M condo units in Kelowna?

The Vancouver Model is morphing into a subsequent 2.0 model as Vancouver developer money chases yield in their new target market: Kelowna, BC.

The mayor is selectively restricting the development of SDFs to protect home values in neighborhoods while opening the flood gates on condo towers spearheaded by Vancouver developers and foreign financed.

This is why they want the spec tax killed off so that foreign interests do not move elsewhere.

Coal Harbor 2.0 coming to Kelowna, BC.

https://www.castanet.net/edition/news-story-221794-1-.htm#221794

#39 Bill Grable on 03.22.18 at 6:54 pm

I hope this is a great Season for the store!

#40 No Big City no Try on 03.22.18 at 6:54 pm

I never met you , likely won’t… Huge respect to you tho! Thanks for the wisdom parting…..you’ve provided me ( and us) with enough , but please don’t stop!!!! ( yes i’ll keep reading obsessively) ….. caveat i live in Atlantic Canada, so we cannot have a serious conversation about national house prices,mostly, ’cause i;m just a local and
just don’t get it, no “university study”… i wish i could engage in serious debate but i can;t, i get crushed with ‘facts or alot of fancy word strung together ( not on you, i blame the weather no people….however Im not a dummy and have benefitted from your knowledge share so for sure you’ve helped me and my buddies, cause i like to talk N share… and I;m not greedy i Share, i know you;ve met my type here in the maritimes…… oh and i have an SPCA special ( mix sheapard all Black beauty of a mutt) that i love more than my buddies!! ……just saying Thanks Garth….. i’m glad i don’t appreciate the house horniness od what yoy speak thing are still “reasonable here
???”

#41 Willy H on 03.22.18 at 6:54 pm

My wife and I made dozens of trips to Forks of the Credit and Belfountain in our younger days. It was a pleasant country drive from our family homes buried in the garden-patterned park-rich burbs of old 1960’s Bramalea. The 20-30 minute drive was an easy escape from the fast spreading urban the sprawl of Peel Region.

Lot’s of good memories driving those winding and hilly country roads.

Garth, Dorothy & Lorna – Thanks for preserving this red-bricked gem.

Hope to visit later spring with my entire family.

#42 Andrewski on 03.22.18 at 6:56 pm

My Dad & I have fond memories of riding our motorcycles through Belfountain along Forks of the Credit Rd! Much quieter rides back in the mid 80’s. I still have my Beemer, but my Dad’s Triumph was sold many moons ago.

#43 Insanity or Money Laundering? on 03.22.18 at 6:59 pm

Guy’s check this one out:

https://www.bcassessment.ca/Property/Info/QTAwMDAwMEcwRg==
3655 DUNBAR ST VANCOUVER V6S 2C6
Sold 15-Jun-2015: $1,425,000
Sold 12-Dec-2017: $2,857,142

Certainly this house didn’t double in value in 3 years? This sticks of money laundering. It’s almost exact double too. with just an extra of $2,142?? thats a pretty strange price to pay for a house. It’s ODDLY specific. Seems like they agreed to pay double, but padded it an extra $2Gs for lawyer fees or some crap!

This is fishy as all hell!

P.S.: Garth, congrats on the successful business!

#44 Cindy on 03.22.18 at 7:01 pm

#23 Renter in Surrey

The question is what do I do now?
Bend over? Move out and rent again?
Bite the bullet and get into mortgage up to my ears to buy 400 sq.f. condo in Abbotsford?
Run to Mexico?

Any tips will be greatly appreciated.

————————————————————————————————

Here’s what 1650 in Surrey will get you:

https://www.kijiji.ca/v-2-bedroom-apartments-condos/delta-surrey-langley/brand-new-2-bed-1-bath-multiple-plans-available-top-amenities/1317669303?enableSearchNavigationFlag=true

So how does your current rental stack up in comparison? This is a brand new condo…you could use this and similar listings as a negotiating tactic with your landord. I do this with landlord all the time. Living in Calgary, where rents have come down considerably since the oil downturn, I have negotiated my rent from $1400 to $900 over time.

I send my landlord similar active rental listings that have the same features as my current rental that are going for less…..and she chops the price.

If you show your landlord what the going rate for your place should be, instead of what he/she wants it to be, by producing evidence of what the market is doing, then you might be able to negotiate that price down.

A little bit of research can go a long way…..

#45 New BC Taxes = Work Around for Privileged Information on 03.22.18 at 7:02 pm

Foreign money flows do not like scrutiny.

NDP is doing the right thing.

BC mayors will fight this vigorously.

Whose side is your mayor on?

Working class broke people = no

Developers multi millionaires = yes

Make every home in BC minimum 1 million dollars. The race is on.

#46 Lee on 03.22.18 at 7:06 pm

Will there be pistachio this summer?

#47 Re #23 on 03.22.18 at 7:06 pm

For sure run to Mexico if that is an option.

Otherwise let your pride take a hit and pay the $1,650 to your smiling slumlord.

People in Vancouver would love to pay $1,650 for rent. Most I know are paying 2,800 to 3,000 for a decent place to live. Decent meaning no black mold and stuff like that.

#48 Honey Dripper on 03.22.18 at 7:07 pm

Can I get a veggie dog?

#49 pathcontrolmonk on 03.22.18 at 7:07 pm

Beautiful building, kudos to you for preserving history, reinvigorating a community and employing the locals. I also recently bought a 150 yo farmhouse fixer upper only to be immediately told by friends / family in YVR that I will never be able to sell it for a profit. Apparently nobody thinks of houses / land as something to be enjoyed, admired or exploited for growing potatoes.

#50 lawnboy on 03.22.18 at 7:09 pm

Hey Garth,

1. It’s a great place, all round top end point for a ride.
2. You forgot to mention that one needs to bring their parking spot with them,,, or make sure your ride has 2 wheels.

#51 Muttley O'Toole on 03.22.18 at 7:09 pm

Yep, looks like a great spot – unfortunately I’m to far away to visit.
But well done to the man.
My question : Is Bandit allowed off the leash to run around out back ‘cos every dog is allowed a day in the sun?

#52 Stan Brooks on 03.22.18 at 7:13 pm

Interesting development with the trade wars.

I see a few more less frequent rate hikes and then hold, then decrease of rates, US need weak currency.

Canada needs weaker currency when compared to US.

Bottom Line: Dow could go down 10 % then go to 50 k.
loonie gets creamed.

#53 Gulf Breeze on 03.22.18 at 7:14 pm

#23 Renter in Surrey,

Report your landlord. He cannot legally kick
you out to raise the rent. Seriously. Tell him or her to get stuffed.

And—am so impressed with your story, Garth…and so happy for you! Can you get a liquor license?

#54 ALFRED E. NEUMAN on 03.22.18 at 7:14 pm

Ah, I well remember your first ‘Opening Day’, Garth..!!

A terrific memory of being there to witness your and your staff’s excitement, as that “open for business” moment arrived and the door was unlatched at 10 AM.

I think I even felt some boast and beaming pride from the heart of a restored and alive again, General Store.

My “best wishes” for a fun (& profitable) 3rd season..!!

And as our movie-muscle-guy Arnie said, .. “I’ll be back..!!” A double scoop Vanilla cone with sprinkles, please and thank you ..

#55 Debtslavecreator on 03.22.18 at 7:17 pm

Good on you Garth. I was raised in a successful small business and lived the 60-70 hours / week with scary times
Our neo-liberal kleptocracy that runs this world continues to do a great job with their globalist UN 2030 agenda and this is all about destroying small&medium sized business in favour of large multinational companies and using the FIRE sector to loot society
Special interest groups that facilitate big government are used along with monetary policy and government legislation to protect the elites of all political stripes but much more so of the left variety – so much easier to win elections when a politician can win by using taxes and deficits to make promises
This ends up ruining the average wage earner and small business person
Good for you and may you own this place for a long time to come. A strong private sector is the basis of strong social programs.

#56 KAC on 03.22.18 at 7:18 pm

BC has rent controls which your landlord is ignoring. Appeal to the rentalsman had have the increase rejected.

Read about your rights here, but get your appeal in quickly!

https://www.canlii.org/en/bc/laws/stat/sbc-2002-c-78/latest/sbc-2002-c-78.html

#57 Whatcha Minnie on 03.22.18 at 7:18 pm

I went running even though I didn’t want to. I was feeling pretty drained that morning, and had zero motivation to do anything. I try to run on a MWF schedule, but I really just wanted to stay home and nap. I had even gotten to the point where I had decided not to go running. Fortunately, I watched a YouTube video about how to accomplish things, so that gave me just enough motivation to put on my shoes and go outside.
I ran for about half an hour, and I felt great when I got back. I had run just hard enough to get my heart pounding and get sweaty, but not so hard that I felt like collapsing. I felt energized and excited to pursue the rest of my day’s activities.

#58 Trumpocalypse2018 on 03.22.18 at 7:18 pm

TOTAL CALAMITY AFTER THE IDES OF MARCH !!!!!

Markets crashing!

Trump fires HR McMaster, the last grown-up at the White House!

Trump’s lead lawyer quits, knowing catastrophe is dead ahead!

China infuriated by tariffs now seeking revenge!

A DOWNWARD SPIRAL TO GLOBAL WAR.

PREPARE.

(**When the attacks hit the GTA, Belfountain is also an excellent place to stop for gas, supplies and some final treats on your way out of the nuclear shadow! Nearby Highway 10 will prove to be a superior evacuation route than Highway 400 when it hits the fan. Get your grub from Garth and head north. Highly recommended)

#59 Another Renter in Surrey on 03.22.18 at 7:23 pm

#23 Renter in Surrey

I’ve been renting 2brm condo for almost 7 years in Surrey (yeah, yeah, I was that moron who thought prices would go down to reasonable level, but that ship is sailed now). Last year rent was $1250 per month. Now owner wants either $1650 or kick me out.

—————————————-
Time to study the new BC Tenancy Act. Your landlord cannot raise the rent by more than 4% this year. The annual renewable lease is gone too.

#60 Sideshow Rob on 03.22.18 at 7:25 pm

That’s the real truth of small business in high tax countries and provinces. Everyone else gets paid first. If would be business owners knew how much they were going to make per hour they wouldn’t bother starting the business…and that’s if it’s successful.

#61 TurnerNation on 03.22.18 at 7:25 pm

” a 127-year-old brick structure with bad wiring, no insulation, leaky roof, crumbly bricks, tilted floors and attitude”

^ Sweeet. This would be worth 1-1.5m in Leslieville, TO.

Time for a Belfountian Brewery?

Blog Dog Lager – Smooth drinking, balanced.
Greaterfool re-Porter – Dense, thick, nutty.
Smoking man Dark – smoky flavour and bitter.
Millennial Lite – weak with extra snark.

#62 Re: #42 on 03.22.18 at 7:28 pm

The whole province in laundered money.

Just under 1 trillion dollars since 2009 here in BC.

Whether directly participated in or indirectly participated in.

Why do you think we are now asking Ottawa for assistance?

#63 oncebittwiceshy on 03.22.18 at 7:28 pm

Renter in Surrey: “Now owner wants either $1650 or kick me out.”

<<<<<<<<<<<<<<<<<<<<<<<<<<<<<

AKA Realtor in Surrey. Seriously, you're actually trying to spread this crap on this site. No, nobody in British Columbia is facing that kind of a rental hike and I'm pretty sure that you are well aware of it.

OSFI and new Foreign buyer and spec. legislation must have realtors scared to start this nonsense.

It's kind of funny that we've gone from the "bulls" bragging about their gains to the "bulls" trying to push the market back up any way they can.

This is just sloppy work. Try again.

#64 Leo Trollstoy on 03.22.18 at 7:32 pm

belfountain general store looks nice

just like the $us!

#65 Peter McLean on 03.22.18 at 7:34 pm

That all sounds pretty dull, to be honest You should turn it into a strip club. You’d make more money

#66 TurnerNation on 03.22.18 at 7:39 pm

Is that Jann Arden moonlighting?

And how much for a shot of JD?!

#67 The Limited Sage on 03.22.18 at 7:43 pm

“45 minutes north of the CN Tower…” (Pending you’re not traveling along the Gardiner West/427 North/401-West/410-North during the hours of 5:00am to 10:00pm on Monday to Friday; or on weekends from 8:00am to 10:00pm.. Also, times may vary due to Summer construction scheduled on the 401 and 410 during the overnight hours).

#68 jess on 03.22.18 at 7:45 pm

19 people ….how many tables are there in your quaint folie?

=============================
42 Insanity or Money Laundering? on 03.22.18 at 6:59 pm

Pilatus Bank was in litigation with journalist, Daphne Caruana Galizia, who was murdered last October, over several articles she wrote

A washing machine has been placed on top of a plaque commemorating the opening of Pilatus Bank in Malta, hours after its chairman was charged in the US with money-laundering activities.

——————–
The chairman of Maltese-registered Pilatus Bank has been arrested on US charges that he participated in a scheme to evade US sanctions and funnel more than $115 million paid under a Venezuelan construction contract through the US financial system, US federal prosecutors said.

#69 Roial1 on 03.22.18 at 7:46 pm

#23 renter in Surrey on 03.22.18 at 6:33 pm
Forget Mexico, too much drug crime. Instead try Nicaragua.
Good food, great climate, friendly people, and cheap housing.
Lower mainland is a disaster zone for working people.
You could try V.I. (but I don’t recommend it. You main landers are cluttering up the place.)

#70 Mark on 03.22.18 at 7:49 pm

“#42 Insanity or Money Laundering? on 03.22.18 at 6:59 pm
Guy’s check this one out:”

This post showed up in yellow on my computer, while everyone else’s shows up in grey. Is there some particular significance to this?

Canada needs weaker currency when compared to US.

Silly. Canada is, housing bubble-driven consumer consumption excepted, mostly a chronic net exporter. Our long-term trade balances are positive with the world, and there should be little reason to have any doubts as to the ability of Canada to repay its imports with exports. Canada’s collapsing RE market will neuter the ability of a wide swath of Canadian consumers, particularly in their prime consumptive years (ie: 30-50), to consume on discretionary imports (ie: vacations, Audis, etc.).

The US needs the weaker currency, to wean their consumers off of excess consumption in foreign goods.

A strong CAD$ will allow Canadians to ramp up much-needed R&D investment to utilize our deeply underutilized talent pool in STEM and the arts. Rebuild our dilapidated national infrastructure and lessen dependence on US infrastructure. Expand the reach of Canadian corporations in global M&A. The combination of the deflation of the consumer debt bubble, and a return to and overshoot of the long-term norms to the upside in the precious metals industry (disproportionately represented in the mix of Canadian publicly listed corporations) should get us significantly there, to a CAD$ that is dramatically stronger than the USD$.

Guy’s check this one out:
https://www.bcassessment.ca/Property/Info/QTAwMDAwMEcwRg==
3655 DUNBAR ST VANCOUVER V6S 2C6
Sold 15-Jun-2015: $1,425,000
Sold 12-Dec-2017: $2,857,142

https://www.youtube.com/watch?v=enMSvH7O_Ks

Take a look at Google Maps/Streetview, and use the feature that allows for a different date to be selected. The house that sat on the property was a tear-down, and was very fancily replaced. A September 2015 view shows the new house under construction.

So nothing really to see there. Probably yet another example of Vancouver RE stagnation since the 2013 peak if you adjust out the cost of building the replacement structure.

#71 Sydneysider on 03.22.18 at 7:50 pm

#23 renter in Surrey

Direct your landlord to this link.

http://www.housing.gov.bc.ca/rtb/WebTools/RentIncrease.html

#72 oncebittwiceshy on 03.22.18 at 7:52 pm

Renter in Surrey: “Bite the bullet and get into mortgage up to my ears to buy 400 sq.f. condo in Abbotsford?”

<<<<<<<<<<<<<<<<<<<<<<<<<<

Uh Huh, or how about actually presuming that most people on this blog know what's going on in the market. There are over 70 listings from Richmond to Abbotsford for condos under $300,000.

30 of those listings are for 2 bedroom condos.

Maybe try the "I couldn't see the big boom and I'm renting forever story." Wow, declining sales mean a lot of realtors have time for this blog.

https://www.crea.ca/news/20034/

"February sales were down from the previous month in almost three-quarters of all local housing markets, with large monthly declines in and around Greater Vancouver (GVA) and Greater Toronto (GTA)."

#73 NoName on 03.22.18 at 7:56 pm

Ham and swiss cheese panini on marble bread with bit of mustard and mayo!

#74 Elvaminokid on 03.22.18 at 8:00 pm

Drove by that dump for so many years, basically boarded up. Glad you made something of it Garth! Good for the community for sure. You certainly had a vision.

#75 For those about to flop... on 03.22.18 at 8:03 pm

#62 oncebittwiceshy on 03.22.18 at 7:28 pm
Renter in Surrey: “Now owner wants either $1650 or kick me out.”

<<<<<<<<<<<<<<<<<<<<<<<<<<<<<

AKA Realtor in Surrey. Seriously, you're actually trying to spread this crap on this site. No, nobody in British Columbia is facing that kind of a rental hike and I'm pretty sure that you are well aware of it.

OSFI and new Foreign buyer and spec. legislation must have realtors scared to start this nonsense.

It's kind of funny that we've gone from the "bulls" bragging about their gains to the "bulls" trying to push the market back up any way they can.

This is just sloppy work. Try again.

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

Hey Once, I was waiting to see if anyone was paying attention.

This dirtbag has been writing posts like this one for a while now.

I called them out last week but they have no shame.

Look how many people tried to help out.

Some fine folk on here.

Unfortunately they wasted their time…

M43CA

#76 Ronaldo on 03.22.18 at 8:03 pm

#29 Current Status in BC on 03.22.18 at 6:40 pm

Everybody I am talking to right now is living like a college student right now in BC, particularly Vancouver.

Owners renting half the place out to stay afloat. Living in their own basement.

People playing it safe without going into debt. while having rent eat 60% of their pay cheque.

EVERYBODY I am talking to is telling me this.

This is the most messed up society supposedly first world place that I have ever seen.
——————————————————————
Best place on earth and everyone wants to live here, right? By the way, whatever happened to BPOE? Did he move away?

#77 Loonie Doctor on 03.22.18 at 8:04 pm

Having discretionary money isn’t much good if you don’t use it for meaningful purposes. To build something cool like your store seems an awesome financial decision regardless of the numbers given the obvious pleasure and satisfaction you have from it.

I will have to make a trek out there with the family (including dogs) at some point. It is really great to have a place where dogs are welcomed. Our dogs travel with us (it’s how I got a motorhome – another great financial decision despite the bad math) and last summer eating at a golf club on the patio with our dogs was a highlight for our vacation. Don’t worry – we won’t pull up to the Belfountain General Store in our RV like cousin Ed in National Lampoon’s Christmas Vacation.
-LD

#78 Cici on 03.22.18 at 8:04 pm

Garth, you are so cool…and just a tad sentimental (enough to be human) underneath that super semi-stern, conservative exterior. Remind me of my Dad

Lorna sounds really cool too; glad you were able to recruit such a super lady :-) It’s nice when people put their hearts and souls into joint ventures that benefit their customers and communities.

#79 oncebittwiceshy on 03.22.18 at 8:14 pm

Renter in Surrey: “Bite the bullet and get into mortgage up to my ears to buy 400 sq.f. condo in Abbotsford?”

<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<

… or if you really want to get into mortgage debt up to your ears … lol, why not try a house in Aldergrove. Apparently those million dollar homes are becoming a little more realistic.

Jan 11, 2018 – For Sale: $719000 – Single family, 4 bed, 2 bath, 1733 sqft at 26490 32 AVENUE

26490 32 Ave, Langley, BC – V4W 3E8 home for sale for $499000 Sat 03/24 2pm – 4pm, Sun 03/25 2pm – 4pm

B.C. Assessment:26490 32 AVE ALDERGROVE V4W 3E8
Area-Jurisdiction-Roll: 15-311-05914180-22
Total Value
Assessed as of July 1st, 2017 $572,000

#80 renter in Surrey on 03.22.18 at 8:18 pm

Ok blog dogs.
I might have used slightly larger figures for entertaining purposes but I’m no realtor here.

I’m well aware on max rent increases, but landlord position that he’s needs condo for personal use now unless.. price goes up.

Unfortunately I can’t leave LM due to family reasons. Otherwise I’d be gone to Trumpland, or at least to Calgary.

So me think to move to 1brm basement for 900 – 1000 per month (I’m cheap).
It’s f..g amazing. Being in top 10-15% of income earners in Canada and iving like a student… in a basement.

I just can’t justify buying 400 sq.f. condo in Langley for 350k when nice house near Dallas is around 250k.

I think I’ll wait a bit more to see where all this shitshow goes.

#81 Smoking Man on 03.22.18 at 8:28 pm

The place is known to have ufo sightings and occasional visits by aliens.

Blog dogs make sure you tip the amazionians or Garth will shame you in here.

#82 meslippery on 03.22.18 at 8:30 pm

When you leave the Belfountain General Store travel to Bobs Inn.

https://youtu.be/hP8ahgi7wpg

#83 jess on 03.22.18 at 8:30 pm

Documents show Mr. Nader’s payment was made by an Emirati-based company he controlled, GS Investments, to an obscure firm based in Vancouver, British Columbia, controlled by Mr. Broidy, Xieman International. A person close to Mr. Broidy said the money was passed through the Canadian company at Mr. Nader’s request, and the reason for its circuitous path could not be determined.

#84 Ronaldo on 03.22.18 at 8:34 pm

#69 Mark

So nothing really to see there. Probably yet another example of Vancouver RE stagnation since the 2013 peak if you adjust out the cost of building the replacement structure.
——————————————————————-
Daughter in law and husband bought an old 1910er in Mt. Pleasant back in 08 for $850,000. They sold in Dec. 2016 for $1.8 mil (that was the peak). They did absolutely nothing to it in all that time and an increase of 1 million. I don’t know how you can state that prices peaked in 2013. I have a lot of examples to prove otherwise. The increase has been all on land which has tripled since the time they first bought. The house itself had little value according to the assessment.

#85 The Great Gazoo on 03.22.18 at 8:36 pm

No matter what you think of Rex Tillerson, some words of wisdom to remember.

“Never lose sight of your most valuable asset, the most valuable asset you possess: your personal integrity,” Tillerson says. “Only you can relinquish it or allow it to be compromised. Once you’ve done so, it is very, very hard to regain it. So guard it as the most precious thing you possess.”

https://www.cnbc.com/2018/03/22/fired-tillerson-says-farewell-to-a-very-mean-spirited-town.html

#86 jess on 03.22.18 at 8:38 pm

Mr. Mueller appears to be examining the influence of foreign money on Mr. Trump’s political activities and has asked witnesses about the possibility that the adviser, George Nader, funneled money from the Emirates to the president’s political efforts.

It is illegal for foreign entities to contribute to campaigns or for Americans to knowingly accept foreign money for political races.

#87 john m on 03.22.18 at 8:40 pm

Great job restoring that building Garth and wish you much success.

#88 Flin Flon on 03.22.18 at 8:47 pm

Have a few more months up here in Flin Flon before we start thinking about ice cream. Regardless, wishing you health and prosperity for 2018 opening Garth! If you decide to get an ice cream truck perhaps you should send it up our way!

#89 Mark on 03.22.18 at 8:48 pm

“Daughter in law and husband bought an old 1910er in Mt. Pleasant back in 08 for $850,000. They sold in Dec. 2016 for $1.8 mil (that was the peak).”

Did they try selling it in 2013? How do you know if there was a difference between the 2013 price and the realized late-2016 price?

The 2013 peak is based on statistical measurements (I use macro data and statistical distribution normalization to adjust out the sales mix shift, Ross Kay uses micro data with a different methodology involving “sales chains”), but there’s always going to be outliers. Occasionally someone will overpay for a house. Occasionally a house will sell for beneath the sort of value achievable by a seller suitably motivated to achieve a higher price. But the example you gave neither proves nor disproves 2013 as being the peak.

In that case cited earlier, at least $1M of the alleged “increase”, and probably nearly all of it, was due to the removal (“tear down”) of the old house, and the construction of a new luxury house. Watching the YouTube video, with the sort of luxury construction of the new house should make this apparently obvious. Its a really great example of post-2013 stagnation, glad that the OP brought it forth.

#90 Mark on 03.22.18 at 8:55 pm

“People playing it safe without going into debt. while having rent eat 60% of their pay cheque.”

Why live somewhere that your employer clearly doesn’t value you enough to pay you enough to actually live on?

There’s lots of other places in Canada that are beautiful, and for which the rent is actually affordable relative to wages.

If rent is consuming 60% of your pay, and you don’t have an obviously severe upwards trajectory on your future earnings power (ie: say you’re a medical resident), you’ll never be able to afford rent or ownership in Vancouver. Even after a collapse. Sometimes the best way to play the game is not to play it at all, pack up and leave. Apparently a very popular option for young professional Vancouverites these days.

#91 FOUR FINGERS WATSON on 03.22.18 at 8:57 pm

“But I want fifteen bucks an hour.”
…………………

I seen you leaning on that broom Turner…Eight bucks max.

#92 SunShowers on 03.22.18 at 8:57 pm

Ah yes, “I can’t afford $15 an hour.”

Another great argument brought to you by the same business owners who said:

“I can’t afford to meet all these onerous safety regulations.”

“I can’t afford to pay women the same wage as men.”

“I can’t afford to give my employees a maximum of 40 hours of work a week.”

“I can’t afford to pay overtime.”

“I can’t afford to not use child labor.”

#93 NoName on 03.22.18 at 8:58 pm

#81 Smoking Man on 03.22.18 at 8:28 pm
The place is known to have ufo sightings and occasional visits by aliens.

Blog dogs make sure you tip the amazionians or Garth will shame you in here.

No tip jar, just animal shelter donation box, if memory serves me right.

#94 Darryl on 03.22.18 at 9:04 pm

Congrats and good luck on your third year Garth

#95 LP on 03.22.18 at 9:14 pm

I visited my Mom at the nursing home on the weekend. She’s about to have her 94th birthday. Mom clearly remembers stopping often at the store in Belfountain with my Dad. I think this was in the ’80s. Apparently the then proprietor used to keep a wooden box of old teaspoons on the counter near the antique cash register. Mom used to enjoy sorting through the collection and always came away with a least one spoon.

#96 David on 03.22.18 at 9:14 pm

Good on you Garth. I look forward to meeting you one day. I don’t know the costs of running or the p/l potential. But it would be great if you made lunches for us moishers and our families during the winter months at caledon ski club.

#97 dave in kincardine on 03.22.18 at 9:17 pm

Garth it is one thing to take on a monster debt and own an over inflated house and live hand to mouth for 35 years.

It is another thing to buy some real estate and generate a return. You may not make big but if the place goes up in value over time you win. At least you get some ice cream.

Bravo.

#98 Lost...but not leased on 03.22.18 at 9:18 pm

#37 Homeless in BC

Re Pot…the laws appear to be all over the place.

Apparently, Justin Turdeau, as PM, has diplomatic immunity, but as an admitted pot user, he could be denied entry in the US once he is out of office.

#99 Looney Baloney on 03.22.18 at 9:23 pm

How about doing something similar south of the border? I hear Montana is nice.

#100 Kat on 03.22.18 at 9:24 pm

@renter in Surrey.

Rental increase is 4% this year, if he tries more than that call the renters board.

#101 Canadian Moose on 03.22.18 at 9:25 pm

Great story Garth. And all the best to you and your business in 2018. The hustle and bustle of the big City sucks. We need more of The Belfountain’s magic to remind us of simpler days and moments in time that take our breath away.

Cheers to you and thank you for your efforts with the Greater Fool. Educational and better than prime time comedy!

Thoughts from the Hinterland.

#102 crowdedelevatorfartz on 03.22.18 at 9:28 pm

@#92 Sunshowers

Do YOU own your own business?
Do YOU have employees?

Please enlighten us with your entreprenurial acumen ( sorry acu-person).
Please tell us how easy it is to be faced with ever changing govts and their ever changing populist rules pandering to the lowest common denominator ( voters …..like….. you).
Start a business.
Pay everyone $20/hr since you seem to think money is no object.
And when you go broke…..ask the govt for welfare.
Politically correct nazis

#103 Madcat on 03.22.18 at 9:29 pm

#63 oncebittwiceshy on 03.22.18 at 7:28 pm
Renter in Surrey: “Now owner wants either $1650 or kick me out.”

<<<<<<<<<<<<<<<<<<<<<<<<<<<<<

AKA Realtor in Surrey. Seriously, you're actually trying to spread this crap on this site. No, nobody in British Columbia is facing that kind of a rental hike and I'm pretty sure that you are well aware of it.

OSFI and new Foreign buyer and spec. legislation must have realtors scared to start this nonsense.

It's kind of funny that we've gone from the "bulls" bragging about their gains to the "bulls" trying to push the market back up any way they can.

This is just sloppy work. Try again."

My landlord upped my rent $350 a month. When I pointed out that she was limited to only a few percent per year she said she had talked to the tenancy board and that all she had to do was get three comparables in my area and she would be allowed to bring my rent to current market value. I looked online and it appeared she was correct so I paid (I figured even with the increase I was still paying under market value).

Large rental hikes are definitely happening. Hence the "housing crisis" for the people who cannot afford these hikes…

#104 Chico on 03.22.18 at 9:40 pm

#23 renter in Surrey on 03.22.18 at 6:33 pm

———————————————

Leave. We left Langley 2 years ago for the east coast, it’s one of the best decisions I have ever made. I filled up my tank for a buck 13, you’ll be paying 1.60 soon. Insurance is 1/4 for a car, ICBC rates are going through the roof, so it’ll be even worse. We have a huge house that we are paying a mortgage on that we would have to pay $2500 -$3000 a month to rent, and our mortgage is under $800. My 20 year old will be apprenticing a mechanic starting in June, and there is a serious demand for hard working young people. Leave.

#105 Tulips on 03.22.18 at 9:41 pm

Dear Garth, Thank-you, thank-you, and thank-you. Nuff said.

#106 stage1dave on 03.22.18 at 9:47 pm

Very Cool!

That was quite a relief from a depressing doomer day of chemtrails, 5G conspiracies, John Bolton, stock market falloffs, Alberta provincial budgets, and one of my customers who realized he couldn’t spell…after the f’n helmet had been drying on the bench for a couple days…umm, won’t be too hard to fix, will it?

(Nope! At least, not after you repaint the damned thing and pay me to re-letter it again…not hard at all!)

Wifey’s day sucked too…pretty catty at her work.

Looks like the only thing that store needs is some gold leaf on the windows haha…if I make it to Goderich this summer I shall throw the paint kit and the brushes in the trunk…

…of whatever I think might actually make it there…won’t be the first time I’ve taken a vehicle on a road trip that had no business being on a road trip…that’s part of the fun!

Just have to figure out whether the 5.0 Capri or the T Type would have fewer breakdowns…

#107 SunShowers on 03.22.18 at 9:51 pm

#102 crowdedelevatorfartz on 03.22.18 at 9:28 pm
@#92 Sunshowers

Do YOU own your own business?
Do YOU have employees?

Please enlighten us with your entreprenurial acumen ( sorry acu-person).
Please tell us how easy it is to be faced with ever changing govts and their ever changing populist rules pandering to the lowest common denominator ( voters …..like….. you).
Start a business.
Pay everyone $20/hr since you seem to think money is no object.
And when you go broke…..ask the govt for welfare.
Politically correct nazis

——————————————-

If you must know, I actually had a very profitable and successful business paying 15 year olds pennies an hour to mine coal with naught but a pickaxe and a canary for safety. You wouldn’t BELIEVE how much money I was making!

At least, that was until all these communist Nazi liberal politically correct snowflakes started getting on my case, and they shut me down! Outrageous I say!

#108 oncebittwiceshy on 03.22.18 at 9:58 pm

Madcat: “My landlord upped my rent $350 a month. When I pointed out that she was limited to only a few percent per year she said she had talked to the tenancy board and that all she had to do was get three comparables in my area and she would be allowed to bring my rent to current market value.”
<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<

Seriously, I don't know whether you work in the same real estate office or you are genuinely naive.

If you are truly that naive, you may actually be able to get some money back.

Good luck.

https://www2.gov.bc.ca/gov/content/housing-tenancy/residential-tenancies/during-a-tenancy/rent-increases

"The tenant may deduct from future rent any overpayment – only if the tenant has already paid an increase higher than the legal amount. The tenant should attach a note to the rent to explain the reason for not paying the amount that the landlord has asked for."

https://www2.gov.bc.ca/gov/content/housing-tenancy/residential-tenancies/during-a-tenancy/rent-increases/additional-rent-increase

To raise the rent above the maximum annual amount, the landlord must have either the tenant’s written agreement or an order from the Residential Tenancy Branch.

Policy Guideline – Rent Increases (PDF)

#109 .......#104 chico on 03.22.18 at 10:10 pm

where did you guys go?

#110 MF on 03.22.18 at 10:13 pm

#218 Guy in Calgary on 03.22.18 at 4:56 pm

“Is this the same guy that admitted to not knowing enough about investments to go about it himself but can now apparently predict the future of real estate in the GTA?

I’d get my advice elsewhere.”

-I’ve been reading this blog since about 2011. On any given day you will see tons of comments proclaiming the end of the GTA bubble.

And here we are.

At some point, you have to realize that it is a bit of an echo chamber on here, and we were all incorrect on the GTA. If you look at it from an outsider’s perspective, you will see why GTA RE will not fall.

MF

#111 MF on 03.22.18 at 10:16 pm

214 NoName on 03.22.18 at 4:10 pm

My dad grew up in the Hammer. My grandparents stayed there until they died in the late 90’s.

Nice place. No hate (seriously).

Just a little too small for my liking.

“cmon mf, tell us this is sarcastic joke. it has to be.”

-The don’t call it the “armpit of Ontario” for nothing :)

MF

#112 MF on 03.22.18 at 10:20 pm

#208 PastThePeak on 03.22.18 at 3:22 pm

“But…GTA is special! It is one of the most desirable cities in the world don’t ya know! According to MF, every other location in Canada is sh*t – if you don’t live in the downtown heart of the centre of the universe, you don’t matter.”

-Actually it is. Every one of those surveys that looks at some livability index has Toronto on the list.

The cold reality is that anyone who did go all in in GTA real estate has made a killing. Sucks but it’s true.

And the rest of Canada is beautiful. Just too small for my liking. Too small for anyone who likes the big city feel.

MF

#113 gfd on 03.22.18 at 10:29 pm

Gas prices in YVR $146-$156.

#114 Dan on 03.22.18 at 10:32 pm

I was in front of your store this past weekend. My wife, she likes ice cream, a lot… she saw the sign but your store was closed. This was a Sunday.

Small world.

#115 LS in Arbutus on 03.22.18 at 10:34 pm

A recent west side of Vancouver sale.
FLOP – saw on the Vancouver is Falling Facebook page:

Imagine spending $2.9 million for this little dump. Although it is a 44 foot lot. Still the seller made a tidy profit.

4117 w 11th ave.
Listed $3,388,000.
Assessed $3,704,600.
Sold $2,880,000.

$825,000 below assessed and $500,000 below listed. Zing.

https://www.bcassessment.ca/Property/Info/QTAwMDAwMDJBTQ==

#116 crowdedelevatorfartz on 03.22.18 at 10:38 pm

@#107 Sunflowers

“Have your underage, underpaid slave labour bring me more coal.
Bob Cratchit is too slow.”

Sincerely,
Ebaneezer

#117 Barb on 03.22.18 at 10:39 pm

Love it!

Re your comment “Worrying about customers is sometimes secondary to fighting city hall, the roads department, the CRA, the health inspector, the conservation authority, regional government or the bylaw enforcement officer.”

You aint seen nuttin til you own a small business in B.C.
B.C. = Bureaucrat Central

#118 ex604 on 03.22.18 at 11:26 pm

Sounds like a front

#119 FerrisWheel on 03.22.18 at 11:42 pm

I don’t know about the rest of the country but Montreal home prices are skyrocketing. Asking prices in the West Island are ludicrous.

#120 Nonplused on 03.22.18 at 11:52 pm

#92 SunShowers on 03.22.18 at 8:57 pm
Ah yes, “I can’t afford $15 an hour.”

Another great argument brought to you by the same business owners who said:

“I can’t afford to meet all these onerous safety regulations.”

“I can’t afford to pay women the same wage as men.”

“I can’t afford to give my employees a maximum of 40 hours of work a week.”

“I can’t afford to pay overtime.”

“I can’t afford to not use child labor.”

My dear Sun-Child, Milton Friedman put to rest the idea that women get paid less for the same work years and years ago, you can find the videos on YouTube. It simply does not make sense to underpay a valuable employee because they will quit and go to a different company.

I don’t know of any cases where men and women get paid differently to do the same job with the same level of competence. Nursing? Nope? Teaching? Nope. McDonald’s? Nope. Trucking? Nope.

The reason women get paid “on aggregate” less than men has been explained more than once by more than one person. It’s because they choose different jobs and spend less time in the workforce, not in every case but on the average.

Have you ever seen a woman show up running the suck truck to clean out your septic tank? Well I have once and it shocked the heck out of me. Turned out it was the owner’s daughter.

How many women work on the rigs in Northern Alberta?

Why are so many young women continuing into liberal arts instead of engineering despite decades of efforts to get them to go into engineering? Absolutely everything has been done to make engineering a “safe space” for them, already 25 years ago, but yet the numbers just won’t rise much from what they were back then. And I’ve worked with many female engineers and geologists, they are just as good as their male counterparts, but there is half as many of them. This isn’t the universities denying them access, if anything they would make it easier.

I see it in my own family. My daughter, bless her heart she’s a good girl and she is amazingly talented, is just finishing an arts degree in illustration. My son on the other hand wants to be an engineer. Which one do you think is likely to make more money?

There is a reason ski instructors don’t get paid that much, despite being very talented. Everyone would rather be a ski instructor rather than work in a cubicle.

#121 BS on 03.22.18 at 11:58 pm

#23 renter in Surrey on 03.22.18 at 6:33 pm

Last year rent was $1250 per month. Now owner wants either $1650 or kick me out.

The landlord cannot raise your rent more than 4% in 2018 and cannot kick you out. The most they can increase your rent to is $1300.

For residential tenancies, the standard allowable rent increase for 2018 is 4.0%

https://www2.gov.bc.ca/gov/content/housing-tenancy/residential-tenancies/during-a-tenancy/rent-increases

#122 BS on 03.23.18 at 12:03 am

Unlawful Rent Increase

A tenant does not have to pay an increase that is higher than the amount allowed by law. Instead, the tenant can give the landlord documents showing the allowable amount or apply for dispute resolution asking for an order that the landlord comply with the law, as long as the increase wasn’t granted through dispute resolution.

The tenant may deduct from future rent any overpayment – only if the tenant has already paid an increase higher than the legal amount. The tenant should attach a note to the rent to explain the reason for not paying the amount that the landlord has asked for.

https://www2.gov.bc.ca/gov/content/housing-tenancy/residential-tenancies/during-a-tenancy/rent-increases

#123 Flat Earth Society on 03.23.18 at 12:04 am

Well Garth, I wish your store all the luck this season and many customers and many sales and many satisfied customers.

However I would like to see sort of when you wrap up operations for the season how things worked out after all the increased costs like $15 and carbon taxes (which will also make your ice cream quite a bit more expensive, can’t freeze milk without electricity) and generally higher taxes, including the business tax changes.

I think it’s a total shame that you put all this money and effort into this thing, created a bunch of jobs, and then the government suddenly changed the rules more abruptly than they have ever done before outside of war times. Are you going to be able to remain solvent after a 20% increase in costs? Are they customers going to be able to pay 20% more when they have to pay carbon taxes on their gasoline, home heating, electricity, and of course the embedded price increases in everything else? I don’t know if you sell anything with broccoli or lettuce or mushrooms in it but of course they are all going up in price too. Even taco shells. Can’t make a taco shell without running a tractor over the field and then using some natural gas in the oven. Quite a bit actually.

Hmm I wonder if there is such a think as an ice cream taco? Well even if not, it’s too expensive now to try.

#124 Mark on 03.23.18 at 12:19 am

“Why are so many young women continuing into liberal arts instead of engineering despite decades of efforts to get them to go into engineering? “

Simple, engineering in Canada (and even in the US) is a high underemployment profession. Young women are smart enough to do their research and determine that despite being qualified, their chances of getting into the profession, and having a career in the profession is quite minimal:

https://www.ospe.on.ca/public/documents/advocacy/2015-crisis-in-engineering-labour-market.pdf

Other fields, as listed on Page 8, Table 1 of the report, offer far higher absorption rates. And thus are perhaps more attractive for intelligent women who want to successfully complete a program of training and enter the profession of choice.

With such high underemployment/unemployment in engineering, employers, accordingly, have no economic reason to address the poor quality of many of their engineering jobs and career paths. Not when they have such large numbers of qualified engineers beating on their doors for jobs.

My daughter […wants to be an artist]… My son on the other hand wants to be an engineer. Which one do you think is likely to make more money?

Your son unfortunately has a very high chance of not being able to find employment in the profession to which he has been trained. Two younger female friends of mine just graduated engineering in the past four years, with good marks, significant extracurricular involvement, and social skills second to none — one now stocks shelves at her local Canadian Tire, and the other works as a fundraising solicitor at a hospital.

#125 Smartalox on 03.23.18 at 12:36 am

LS in Arbutus:

That place sold for 22% below assessment – that’s a new low for Vancouver Westside.

Will China’s retaliation I for Trump’s 60% tariff include a crashing of North American Real Estate markets? Who knows?

#126 Karlhungus on 03.23.18 at 1:05 am

I should start a blog and harp on you every day why buying that piece of real estate was a bad idea

#127 For those about to flop... on 03.23.18 at 1:25 am

10:34 pm
A recent west side of Vancouver sale.
FLOP – saw on the Vancouver is Falling Facebook page:

Imagine spending $2.9 million for this little dump. Although it is a 44 foot lot. Still the seller made a tidy profit.

4117 w 11th ave.
Listed $3,388,000.
Assessed $3,704,600.
Sold $2,880,000.

$825,000 below assessed and $500,000 below listed. Zing.

https://www.bcassessment.ca/Property/Info/QTAwMDAwMDJBTQ==

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

Hey LS ,how you been?

It’s funny you should write me as I was only looking at one of your old notes last night in my folder after you helped me sharpen the numbers for that million dollar loss after expenses and a little for opportunities.

You remember that one?

I just looked at the assessment,I was surprised they rolled it back so far.

Even though the new owner low balled, got it,and in a rare case in Vancouver the last fifteen years, made the sellers hemorrhoids flair up,if they were to try and sell that house right now they would most likely lose money too.

This is how things got so distorted for such a long period of time ,a lot of people no longer saw any danger.

The pendulum had a wedge behind it for a long time,once that wedge shook loose the pendulum is now free to swing back.

Take a look…

M43CA

https://www.bcassessment.ca/Property/Info/QTAwMDAyOTFTRA==

#128 Smoking Man on 03.23.18 at 1:34 am

Ma folie,

My folia is paranoia at the moment, Christ my real name got published yesterday, thanks, garth, any time a recruiter does a search on JS well I’m doomed. recruiters slime bag commission bitches, why they did not steal the customer list and set up shop across the street is beyond me.

But honestly I’m afraid, I’ve slapped the globalists, the stupid empty minded libtards that drank the poison cool aid here for a while. Now they know my real name.

Had a good talk with my best friend when he was almost empty. It was not easy hiding him from wifeepoo, 1300 sqft apt with a tiny backyard. Jack lives in my front pocket now, with a long hoody shirt that covers the epic buldge.

Even my bottle was into the sauce tonight. WTF does that mean.

Perhaps its time to go to rehab.

#129 Brett on 03.23.18 at 1:44 am

Well said Garth… The joys of small business ownership.

#130 jane24 on 03.23.18 at 1:52 am

Garth with these small businesses you always have to be ahead of the trend. I live in Britain as you know, the land of 1000s of competing small country pubs. Being an old advertising type as well as an old TO RE agent, university PhD qualified business professor and qualified funeral director (had an interesting life for sure) I am always interested in new trends, services and products.

Two pub/cafe trends I have noted here that may be of use in Canada are:

1. UK pubs are mostly dog friendly even in the indoor food service areas as otherwise the owner wouldn’t have a business. One of the key reasons for going to the pub is walking your dog and you can’t sit outside in the rain drinking pints! Anyway the really trendy places are now offering multiple flavors of doggy ice cream. Dog owners are paying more for this than human ice cream.

2. The trend for real ale made by little homespun brewers with weird names is well established and premium priced. The latest thing is real cloudy cider, both apple and pear, also made by little homespun brewers. Cider is made from an identifiable fruit so punters do seem to think it is an alcoholic healthy drink but many non-alcoholic premium versions also avail. Pubs also often serve ciders and near-ciders hot as a tea/coffee substitute in our winter

When the day comes that I do longer have to spend my trips home to Brampton sitting by my poor Mum in her nursing home, I shall definitely pay a visit to your business. It looks smashing.

#131 Oft deleted much maligned stock.picker on 03.23.18 at 2:04 am

It would have so much easier, more efficient and profitable if you’d shunted a grow-op into your basement. Dope is our Dear Leaders business of choice. Eleven years old can possess 10 joints….so why is cream? Get the kids stoned and lower the voting age….keep up.

#132 Smoking Man on 03.23.18 at 2:17 am

When you find the truth or your version of it.

https://genius.com/Metallica-nothing-else-matters-lyrics

#133 Buy? Curious? on 03.23.18 at 2:25 am

Nothing worse than a old rich guy complaining…about anything.

#134 Bossman on 03.23.18 at 2:38 am

@ #10 ole Doberman on 03.22.18 at 6:19 pm

And who the F are you ole man to be psycho-analyzing anyone’s choices in life?

Now go back to cupping and smelling your own farts and we’ll summon you when needed.

#135 Al on 03.23.18 at 2:56 am

Nice store Garth!

#136 JWD on 03.23.18 at 3:11 am

Great story Garth. Life IS about experiences. If you have mint chocolate chip – I’m there.

#137 NEVER GIVE UP on 03.23.18 at 3:58 am

#43 Insanity or Money Laundering? on 03.22.18 at 6:59 pm
Guy’s check this one out:

https://www.bcassessment.ca/Property/Info/QTAwMDAwMEcwRg==
3655 DUNBAR ST VANCOUVER V6S 2C6
Sold 15-Jun-2015: $1,425,000
Sold 12-Dec-2017: $2,857,142

Certainly this house didn’t double in value in 3 years? This sticks of money laundering. It’s almost exact double too. with just an extra of $2,142?? thats a pretty strange price to pay for a house. It’s ODDLY specific. Seems like they agreed to pay double, but padded it an extra $2Gs for lawyer fees or some crap!

This is fishy as all hell!
==================================
Possibly another Gangland fraud.
Local Gangs and general fraudsters will fabricate forged Id, including full histories of business wealth from abroad. Whatever paper is needed by the bank they are dealing with at the time is easily forged by their forgery department.

I know of one gang that has a full time forger on staff.
They purchase properties at inflated prices from their cohorts and get the bank to loan the huge mortgage of which they split with the gangsters involved.

If it looks like they need to make mortgage payments then they let the fictitious owner disappear and the money is gone and the bank holds an overpriced property.

The bank goes to CMHC to get reimbursed. However locally properties have gone up so fast this scam is not always useful. Sometime the property goes up to the correct value and you could sell it for a profit!

#138 A J on 03.23.18 at 5:47 am

You did a good thing bringing that old building back to life. If I’m in the area this summer, I’ll stop by and grab some dog treats and ice cream. :)

#139 Wrk.dover on 03.23.18 at 6:42 am

Garth! If you can’t afford this pleasure yacht of a building for a hobby, who can? And in your tax bracket another fifteen earned will cost another twenty in taxes, no?

Best thing is, when you go to sweep the floor this summer, you can show up all gooned up on government grade pot! It will make the task as onerous as building the national railroad, and at the end of the day as exiting as driving the last spike. Best of all when you get home you will experience the sleep of an honest man.

In the words of the immortal Robert Crumb, Canada’s new motto will be thus:

Dope will get you through times of no money,
Better than money will get you through times of no dope.

#140 ngt shaw on 03.23.18 at 6:55 am

Nice digs Garth!

Thank you to the poster americanloonie in a previous post for tweaking my imagination. Was doubting the claim that gold was near all time highs but they are right. If you own gold in the USA, then not. You have lost money. You still have four hundred dollars to go. If you own gold and you are a Canadian, Australian, Russian, or some other non-US then you are at or near all time highs.

See for yourself at Goldprice.org or some other site that lists them in all currencies.

#141 Bob in India on 03.23.18 at 7:04 am

Kudos to you, Garth….

#142 Anne on 03.23.18 at 7:17 am

Thanks Garth for restoring this beautiful place. We visited last summer, was amazing. Great staff! Will return this year for sure.

As an Easterner, I’m still wondering about a restoration project in Lunenburg based on your Instagram post, hmm?

Shhh. That one’s a secret, for now. – Garth

#143 SunShowers on 03.23.18 at 7:17 am

#120 Nonplused on 03.22.18 at 11:52 pm
#92 SunShowers on 03.22.18 at 8:57 pm
Ah yes, “I can’t afford $15 an hour.”

Another great argument brought to you by the same business owners who said:

“I can’t afford to meet all these onerous safety regulations.”

“I can’t afford to pay women the same wage as men.”

“I can’t afford to give my employees a maximum of 40 hours of work a week.”

“I can’t afford to pay overtime.”

“I can’t afford to not use child labor.”

My dear Sun-Child, Milton Friedman put to rest the idea that women get paid less for the same work years and years ago, you can find the videos on YouTube. It simply does not make sense to underpay a valuable employee because they will quit and go to a different company.

——————————————–

Tip for the future: You should probably make sure you understand the topic of conversation before acting smug.

You probably aren’t old enough to remember how hard business owners fought against the Equal Pay Act of 1963 (not to mention the many previous attempts at pay equity that failed to pass) and never bothered to do any research either.

Their main argument at the time: “We can’t afford to pay women the same as men.” Good thing nobody believed them, or women would still be making 50 cents to the man’s dollar for the same work.

#144 Steven Rowlandson on 03.23.18 at 7:46 am

“But I want fifteen bucks an hour.”

Start from scratch and try living on it Garth.

#145 Citizen on 03.23.18 at 8:34 am

Beautiful place Garth.
Love how you show respect to dogs.

You have taken a risk investing in something so old and in need of love and revitalized it!
You have brought people together and improved the community.

Respect!

#146 Finally on 03.23.18 at 8:48 am

#141 Anne on 03.23.18 at 7:17 am

As an Easterner, I’m still wondering about a restoration project in Lunenburg based on your Instagram post, hmm?

Shhh. That one’s a secret, for now. – Garth

***********

Well played Anne! FINALLY a response from Garth (141 comments in – I hate days like this).

Congrats on the Store Garth. Please thank Dorothy and Lorna for us.

#147 dharma bum on 03.23.18 at 8:49 am

I enjoy riding the Harley (2001 Heritage Softail) with the Wife to the store a couple of times during the summer months.
While hanging out there, I try spotting some of the other lurkers, and try to figure out which ones are undercover Blog Dogs.
I have not been able to discover the tell.
Maybe we should all get some sort of a secret pin, or ring.
Garth can design them and supply them to us.
It could be another lucrative write-off against the store’s massive revenue stream.

#148 Ian on 03.23.18 at 9:00 am

Garth, had a brainwave this am about your electricity costs at the store. You sure have a lot of refrigeration there.

Put some solar panels on that puppy! No more public hydro ever again!

#149 dharma bum on 03.23.18 at 9:00 am

399 Looney Baloney

How about doing something similar south of the border? I hear Montana is nice.
——————————————————————–

I might be movin’ to Montana soon, just to raise me up a crop of dental floss……

https://www.youtube.com/watch?v=Ialhaxhr7iA

#150 Danforth on 03.23.18 at 9:06 am

re: the photo with the masonry needing tuckpointing…

What’s up with the sneakers? I only know you to exclusively wear boots!

Not my feet. Real men do not wear sneakers. – Garth

#151 Ian on 03.23.18 at 9:17 am

USD index now below 89.20 this am:

https://www.theice.com/products/194/US-Dollar-Index-Futures/data

Next stop 80.

June gold past 1350 this am, next stop 5000!

#152 Ole Doberman on 03.23.18 at 9:26 am

#134 Bossman on 03.23.18 at 2:38 am

@ #10 ole Doberman on 03.22.18 at 6:19 pm

And who the F are you ole man to be psycho-analyzing anyone’s choices in life?

Now go back to cupping and smelling your own farts and we’ll summon you when needed.
——————————————————-
wow settle down eh. I don’t think Garth disagrees here otherwise he would have said so.

I was simply referring to, if I recall correctly, Garth saying some things are not measured in money – but the simple joy of interacting with fellow peoplekind, or something along these lines.

Garth can you confirm this. I know exactly what you’re getting at but some people, like Bossman (name says it all) are to shallow for such deep philosophy.

#153 Editrix on 03.23.18 at 9:32 am

Garth! After many years I’m beginning to lose the Greater Fool faith. It’s examples like this house in my neighbourhood that sold in less than 4 days for over asking.

https://www.zolo.ca/toronto-real-estate/116-brookside-drive

We all know it’s not worth it, but it’s the fact that this crap is still going on and people telling me that a house near the subway will never lose value that shakes my faith. Not to poop on the new buyers, but hopefully we’ll see a Power of Sale sign on the lawn in a year or two. Then my faith will return.

Paucity of good listings now. Explains a lot. – Garth

#154 Editrix on 03.23.18 at 9:33 am

Further – the Brookside asking price was $979K

#155 SWL1976 on 03.23.18 at 9:46 am

Nice work on the ice cream shop Garth.

We also somewhat lost our minds about a year and a half ago and decided to open a pizza shop in the small community where we live. I consider our first year a success even though either of us has yet to take any sort of reasonable pay. We both have day jobs and have flexible enough schedules that allow us run run a small business on the side.

The net benefit to the pizza shop has brought to the community has been huge and most people see and understand this. It’s too bad Mr Dressup really has no concept of this and seems content on trashing small business.

I don’t understand how having to pay a 15 year old kid who wants their first job while still living at home a living wage of 15$ an hour is good for society?

Maybe this year I might make 15$ per hour but have to make payroll first

One thing is for sure though – We do have good Pizza

Best Pizza in the Cowichan Valley

#156 SWL1976 on 03.23.18 at 9:49 am

Missed a letter in the link. Long days and early mornings here on the west coast

#157 45north on 03.23.18 at 9:51 am

Congratulations on the Belfountain! I especially like the picture of the bride holding the hand of the young man underneath the veranda.

So now Season 3 begins in a week.

it’s not practical to run the store all year long – customers are fewer and heating costs are more. I wonder do you have natural gas? Do you drain the plumbing for winter?

Propane – no gas lines in the hamlet. The water is taken from a river tributary flowing across the property. Lovely tenants upstairs keep it in use over the winter. Empty buildings fall apart faster! – Garth

#158 SWL1976 on 03.23.18 at 9:53 am

Wow now I feel dumb, our at least dyslexic

#159 Concerned Reader on 03.23.18 at 9:58 am

Not sure what ice cream is served at the store but if you want to serve truly great ice cream you should look into Foundry Ice Cream out of Hamilton.

$15/hr is a reasonable wage if you don’t want the kids living in their parents basements until they’re 35. Even at $15/hr you’re looking at roughly 29k/year (25k after taxes). Hardly an income that allows you to live anything other than broke, but at least you’re not destitute.

#160 broader mind on 03.23.18 at 10:02 am

Attention Shopper’s , go long Enb and Cjr.b today for 60 days and take the rest of the year off. My picks for any dry powder. Greatness or crash and burn, time will tell. Warning- could be a roller coaster.

#161 Yuus bin Haad on 03.23.18 at 10:05 am

Do the right thing, and the man grinds you down.

#162 LS in Arbutus on 03.23.18 at 10:25 am

Hi Flop

I’m still here, still trolling real estate sites. But not as much as I used to. For me it was about satisfying myself that it is correcting, now it’s just watching it continue. Showing others is a good public service, but people will believe what they want to believe. Lower mainland has done a pretty good job not imploding…. yet.

I always looks for your posts.

For me Vancouver has not made sense since at least 2010. I think 50% correction is probable. The market increased 100% in 3 years – 2013 to 2016. (On top of a 200% increase from 2002.) So I think a roll back to 2013 prices would be a start.

I might believe it were real if it were pockets of the city, but it’s the ENTIRE lower mainland. It’s absolutely unaffordable everywhere. I think it’s shocking that people are buying at these prices.

I am certain the amount of leverage (both domestic and foreign) being used is mind boggling. Court cases like the one below show how CRAZY it all is.

B.C. court ruling foreshadows flood of litigation, forced sales involving Chinese home ownership, lawyer says:

http://vancouversun.com/news/local-news/student-wins-judgment-after-vancouver-real-estate-deals-fall-through

Student wins judgement when buyer (who has multiple mortgages on multiple other properties) can’t find funds to close purchase of her house. It’s a house of cards folks… and we were told it’s all bought with cash. Cash, my a$$! Everything is financed upon financed and we’re surprised?

Keep up the good fight!

#163 Smoking Man on 03.23.18 at 10:26 am

DELETED

#164 Penny Henny on 03.23.18 at 10:32 am

#124 Mark on 03.23.18 at 12:19 am

Your son unfortunately has a very high chance of not being able to find employment in the profession to which he has been trained. Two younger female friends of mine just graduated engineering in the past four years, with good marks, significant extracurricular involvement, and social skills second to none — one now stocks shelves at her local Canadian Tire, and the other works as a fundraising solicitor at a hospital.
////////////////////////

The chances of Mark’s anecdote being true is highly unlikely. For one he mention’s that he has friends and secondly they are female.
On the outside chance this is true then the true reason for not finding jobs in their area of study is because they have picked too many of Mark’s bad habits.

#165 Smoking Man on 03.23.18 at 10:42 am

Cities are doomed.

https://www.zerohedge.com/news/2018-03-23/baby-boomers-menacing-metamorphosis-americas-large-cities

#166 SimplyPut7 on 03.23.18 at 10:45 am

#150 Danforth on 03.23.18 at 9:06 am
Not my feet. Real men do not wear sneakers. – Garth

—————–

I’m going to have to report you to The Right Honourable Justin Trudeau about that comment.

That’s not a gender-neutral comment.

Next time use peoplekind.

#167 LivinLarge on 03.23.18 at 10:46 am

“I don’t understand how having to pay a 15 year old kid who wants their first job while still living at home a living wage of 15$ an hour is good for society?”…then you need therapy. That sentiment is no different than saying “why should I pay a married woman a living wage…her husband has one” and you wouldn’t be so stupid as to say that now would you?

#168 Ian on 03.23.18 at 10:47 am

Wow Wayne Huizenga just died. That guy was one brilliant entrepreneur.

#169 Stan Brooks on 03.23.18 at 11:11 am

Canadian inflation picks up (surprise, Mark):

https://ca.finance.yahoo.com/news/canada-inflation-jumps-3-high-131808026.html

Official CPI 2.2, unofficial 8 %, but hey, BoC is watching it carefully.


“The Bank has got a bit of a conundrum here. There is no doubt the inflation numbers are quite a bit stronger than I’d expected … the caveat however is you’ve got very soft growth indicators,” said Derek Holt, head of capital markets economics at Scotiabank.

As I said: inflation, no growth, aka stagflation.

Here to stay.

#170 ben on 03.23.18 at 11:19 am

Garth, they want $15 an hour because housing prices have detached from wages. Because of politicians propping up prices, like the Home Buyers Plan.

This is just a pastime for you, there is no real risk because you can afford to lose all the money you put into this (and it won’t go to zero because the land will have value).

What would you be saying to someone writing into you saying “I bought a place and it makes zero dollars”? “Get a real job”, I bet.

I have no problem with you doing this, good for you in fact. But let’s not pretend this is an actual endeavor.

It’s real to the people receiving paycheques, the suppliers being paid and the local economy. Say, tough guy, how many jobs have you created lately? – Garth

#171 Stan Brooks on 03.23.18 at 11:21 am

And the most interesting statement:

The Canadian dollar rallied on the inflation data, rising to C$1.2840 to the U.S. dollar, or 77.88 U.S. cents.

That’s right.
According to their logic/part of the brainwashing, the higher the inflation, the stronger the currency.

#172 Lillooet, BC on 03.23.18 at 11:27 am

Hi Flop and LS:

LS in Arbutus on 03.23.18 at 10:25 am
Hi Flop

B.C. court ruling foreshadows flood of litigation, forced sales involving Chinese home ownership, lawyer says:

http://vancouversun.com/news/local-news/student-wins-judgment-after-vancouver-real-estate-deals-fall-through
**************

I quoted this case yesterday.
8 Lillooet, BC on 03.22.18 at 10:58 am

A buyer cannot simply walk away from a signed real estate deal. Several cases have been ruled against the buyers and they did not took a long time:
http://vancouversun.com/news/local-news/student-wins-judgment-after-vancouver-real-estate-deals-fall-through

Why similar cases like Derek’s are so complex in Ontario?

#173 Gravy Train on 03.23.18 at 11:33 am

#163 Smoking Man on 03.23.18 at 10:26 am
DELETED

You just can’t take a hint, can you, doofus? :)

#174 Bytor the Snow Dog on 03.23.18 at 11:45 am

SunShowers?

Looks like SCM got a new name and IP.

Good job on the store Garth. If I’m up in Ballinafad this summer I’ll take a ride over.

#175 ben on 03.23.18 at 11:46 am

Stan Brooks – it’s the market pricing in a rate rise given the inflation data (correctly or otherwise, time will tell).

#176 For those about to flop... on 03.23.18 at 11:49 am

#160 LS in Arbutus on 03.23.18 at 10:25 am
Hi Flop

I’m still here, still trolling real estate sites. But not as much as I used to. For me it was about satisfying myself that it is correcting, now it’s just watching it continue. Showing others is a good public service, but people will believe what they want to believe. Lower mainland has done a pretty good job not imploding…. yet.

I always looks for your posts.

For me Vancouver has not made sense since at least 2010. I think 50% correction is probable. The market increased 100% in 3 years – 2013 to 2016. (On top of a 200% increase from 2002.) So I think a roll back to 2013

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

Morning LS.

I’m not sure how messy things are going to get,more interested in trying to document it than actually making predictions.I make comments that people try to shove back in my face but I am more interested in showing people stuff than talking with my fingers.

The actual reason that I was back looking at the house on Pilot Road,was lately one thing I have been doing when I get a spare 5 or 10 minutes is take screen shots of as many as my cases as possible.

When I was documenting a case from late 2015 the other day I realized the sale had been wiped from the history of b.c assessment ,even though it should still be up for another six months or so.

This made me realize it was only a matter of time, and I knew it was coming, that the epic 2016 Spring season would soon be wiped from the history and there will be no proof of the massive run-up that a lot of people bought into.

So focusing on preserving some of that history and another thing I have been try to show is when Eastside detached if and when they go back below a million.Not just one house that need bulldozing but a place a young family would be interested in living.

Had confirmation of a few houses asking/ assessed around 1.2 going for roughly 1.05/1.07 , so I don’t know if it will be this year or possibly next.One house on 33rd I thought would be a good one to watch sold after only a short period of time because the seller had actually taken the time to present the house in its best possible light ,even though it was on a busy street, as opposed to just slapping it on the market and waiting for a developer.

The pattern that makes the most sense to me at the moment, as a market overall, is sideways or grinding down until the next election and if the B.C Liberals get back in and reverse some of the measures and current mentality then it could take off again,but them 2016 purchases would have held for 5 years by then and would obviously no longer be the quick flip that a lot of them intended.

I used to think some guy should document some of this.

I used to think some guy should show this blog some of the stuff that you will never see in the media on this blog as I felt it deserved it.

I used to think why doesn’t some guy show irrefutable evidence that things aren’t the same pre-2016 as a lot of people tried to control that narrative.

I guess I’m some guy…

M43CA

#177 Russ on 03.23.18 at 11:51 am

Hi Garth,

If the missus and I are beyond Hope this summer, like most people in Canada, we will see if there is time to drive through Alberta, Saskatchewan, Manitoba and most of Ontario for a wee visit.

Hope to see you then, cheers.

#178 Guy in Calgary on 03.23.18 at 11:51 am

#110 MF on 03.22.18 at 10:13 pm

——————————————————-

You are smart enough to know that nothing goes up forever. Part of Toronto will be fine but the GTA will be hit.

#179 ben on 03.23.18 at 11:55 am

> It’s real to the people receiving paycheques, the suppliers being paid and the local economy. Say, tough guy, how many jobs have you created lately? – Garth

Agreed, and all that is great, good for you. I’m just questioning the “entrepreneur” part given your comment about $15 wages. If you hadn’t put that bit in (which wasn’t necessary) for me it would be unequivocally a “good thing”. And I wish you well with it and hope it does become profitable, in that case you will be creating value (together with your employees) which I’m 100% delighted for you all to keep.

This is actual stuff – there was a thing, you did some work, you added value. Wonderful. The total opposite of real estate speculation. It’s the Canada non-rentiers want.

#180 Ogopogo on 03.23.18 at 11:58 am

If I find time to visit relatives in Ontario this summer I will surely try and stop by. What a great story.

Compare Garth’s largesse with the venality and rapacity of realtors. No wonder they hate him. Parasites hate and envy producers.

Long live the Belfountain General Store.

#181 Smoking Man on 03.23.18 at 12:56 pm

Gravy Train on 03.23.18 at 11:33 am
#163 Smoking Man on 03.23.18 at 10:26 am
DELETED

You just can’t take a hint, can you, doofus? :)
…..

As much as I try and ban myself I have addiction problems as you can see.

It was just a link to an antifa parody song. I asked myself why did Garth deleted it. Then it hit my hung over brain. These people are crazy. They know where lives on the weekends I wont do it again.

Seriously considering rehab. Won’t cost me anything. Problem is it’s in Welland. Shitty this time of the year.

Deleted for language. – Garth

#182 SimplyPut7 on 03.23.18 at 12:59 pm

#110 MF on 03.22.18 at 10:13 pm
#178 Guy in Calgary on 03.23.18 at 11:51 am

Guy in Calgary is right.

I’m not an outsider – the GTA is falling apart.

Projects that were supposed to be done months ago are stalling, the pyramid scheme is broken because there are no flood of buyers purchasing new developments at the crazy 2017 prices developers need to make building the homes profitable.

I have one development down the street from me in Toronto that was supposed to start building stack town homes in September 2017 – they were selling the basement unit for 500k (very little sunlight, no full-size windows) and upper units for nearly 700k, you can get a detached house for those prices in parts of the GTA have access to highways and transit that will take you into downtown Toronto.

There was also one in North York (Toronto) that a friend of mine was going to buy that was supposed to be completed December 2016, that has not even finished pouring the concrete for the basements yet.

It’s bad enough that home buyers/investors/assignment flippers can now see that their money could have gone farther if they waited a few more months for better homes to come to market or developers to slash their prices. Now you can’t even get your deposits back while you wait for the builder to finish the units so you can try and sell and buy something cheaper in the GTA before rates start rising again.

#183 Ian on 03.23.18 at 1:16 pm

Official investment song of 2018!!!!

Play it every morning at 9.30 when the market opens.

https://www.youtube.com/watch?v=ON-MTg5103c

#184 Jack BeNimble on 03.23.18 at 1:17 pm

I’ll just leave these fixer uppers right here

https://imgur.com/gallery/TB30e

#185 Victor V on 03.23.18 at 1:25 pm

Loonie rallies as rising inflation boosts rate hike chances

https://www.bnn.ca/loonie-rallies-as-rising-inflation-boosts-rate-hike-chances-1.1035952

TORONTO – The Canadian dollar strengthened to an 11-day high against the greenback on Friday as oil prices rose and hotter-than-expected domestic inflation data raised the chances of a further Bank of Canada interest rate hike over the coming months.

The annual inflation rate rose to 2.2 per cent, a three-year high, from 1.7 per cent in January, Statistics Canada said. Economists had forecast a rate of 2.0 per cent.

The Bank of Canada’s three measures of core inflation also all strengthened.

“I think it will reinforce the view that the bank will keep slowly grinding rates higher,” said Doug Porter, chief economist at BMO Capital Markets.

The central bank has hiked rates three times since July even as it worried about a more uncertain outlook for trade. Chances of a hike in May rose to 82 per cent from 74 per cent before the data, the overnight index swaps market indicated.

#186 millmech on 03.23.18 at 1:26 pm

#151 Ian
It is about time as a friend of mine bought gold at $1700 in 2011 and has been waiting seven years for a break even point!

#187 gary smith on 03.23.18 at 1:47 pm

#10 ole Doberman
#134 Bossman on 03.23.18 at 2:38 am
And who the F are you ole man to be psycho-analyzing anyone’s choices in life?

Now go back to cupping and smelling your own farts and we’ll summon you when needed.
————————————————————-
Couldn’t agree more, Bossman. That was my reaction when I saw the post. F-right off. Not everyone wants, kids, can have kids, has the opportunity to have kids….

Really hate it when people bingo those without children!

And this is coming from a dad of multiple kids.

#188 Paul on 03.23.18 at 2:03 pm

#23…sure file an appeal with the board. Your LL probably has a son or daughter waiting in the wings to move in if you don’t agree. Get ready to move…or pay. LL still have the upper hand in BC.

#189 fancy_pants on 03.23.18 at 2:11 pm

ice cream is a great business, not as dangerous as baking cakes. kudos!

#190 McLovin on 03.23.18 at 3:00 pm

As of July, new flavours…Blueberry Kush and Maui Wowie Mango!!

#191 Purrfect on 03.23.18 at 3:48 pm

The character of the place is only matched by it’s owner

#192 Penny Henny on 03.23.18 at 4:12 pm

SPY closes under 200 DMA

#193 NoName on 03.23.18 at 4:24 pm

few things on my mind today but do i ever hope this is double bottom, if and when rsi dips below 30, definitely if touches 10 ill be doing this.

http://schrts.co/sh4gBD

#194 Linda on 03.23.18 at 4:32 pm

#23 Renter in Surrey: you don’t say what you do for a living. IF you are doing the kind of work that just needs a good internet connection, your options as to where you live & how affordable it is may be a lot more flexible than you think. If however your employment is such that telework isn’t an option, you then have to consider whether you still want to live where you currently do. What are the pros/cons? Hint: the time to move on is when the cons outweigh the pros.

#195 paulo on 03.23.18 at 4:39 pm

Any proposed date for the “Blog Dog” get together at the store?

Surprise me. – Garth

#196 jess on 03.23.18 at 4:51 pm

Bank of America Merrill Lynch doctored paperwork on 16 million orders to fool institutional clients into thinking stock trades were taking place in-house when they were not, according to New York’s Attorney General.

The bank admitted on Friday to “systematically misleading clients” between 2008 and 2013 about how orders were handled for more than 4 billion shares of stock.

The Attorney General’s investigation revealed, and BofAML admits, that BofAML engaged in a multi-year fraud in connection with the operation of its electronic trading division. Beginning in 2008, BofAML intentionally and methodically concealed from its clients that it was routing millions of their orders for equity securities to ELPs like Citadel, Two Sigma, Knight, and others. Instead, BofAML told its clients that those orders were executing in-house at BofAML. The company accomplished its fraud by re-programming its electronic trading systems to automatically doctor the trade confirmation messaging sent back to its clients after executions by these firms, in a process that BofAML employees referred to internally as “masking.” “Masking” involved replacing the identity of the ELP to whom the order was routed with a code indicating that the trade occurred in-house at BofAML. BofAML applied its “masking” strategy to over 16 million client orders between 2008 and 2013, representing over 4 billion traded shares. In order to avoid detection, BofAML also altered post-trade reports called “transaction cost analysis” reports, which are meant to help clients understand where and how their orders are executed. BofAML generated reports that reflected that BofAML was the venue where clients’ trades had executed, even though the trades had actually been executed by ELPs. BofAML also altered client invoices and other written documentation that would ordinarily reveal to clients where their trades had executed.

https://ag.ny.gov/press-release/ag-schneiderman-announces-record-42-million-settlement-bank-america-merrill-lynch-over

#197 SoggyShorts on 03.23.18 at 4:53 pm

#187 gary smith on 03.23.18 at 1:47 pm
#10 ole Doberman
#134 Bossman on 03.23.18 at 2:38 am
And who the F are you ole man to be psycho-analyzing anyone’s choices in life?

Now go back to cupping and smelling your own farts and we’ll summon you when needed.
————————————————————-
Couldn’t agree more, Bossman. That was my reaction when I saw the post. F-right off. Not everyone wants, kids, can have kids, has the opportunity to have kids….

Really hate it when people bingo those without children!

And this is coming from a dad of multiple kids.
***********************
Holy crap, congrats on joining the “I’m offended” crowd.

I’m one of those without kids, and a business that has been a bit of a passion project, and I agree 100% with ole doberman’s statement.

Having kids is a huge part of parents lives.
Having a business or passion project is a huge part of owners lives.

Saying that 1 can replace the other is by no means an insult, especially because it is simply true. Living a full and rewarding life can take on many forms, but not all forms at the same time as there simply isn’t enough hours in the day.

Find something else to be offended about.

#198 Kevin Banbury on 03.23.18 at 5:01 pm

Need to make a trip to Belfountain this summer. I hope T2 manages to read this.

#199 Ronaldo on 03.23.18 at 5:11 pm

#186 millmech on 03.23.18 at 1:26 pm

#151 Ian
It is about time as a friend of mine bought gold at $1700 in 2011 and has been waiting seven years for a break even point!
—————————————————————–
So he likely bought in August/11 when the dollar was near par. He had an opportunity to sell and break even in June 2016 when the price was 1315 U.S. and 1700 Cad. Most do not consider the exchange rates when they blindly jump into precious metals. There is a time to buy and there is a time to sell. This is one of the most volatile investments but if you understand it and get it right you can do very well. Not for most people.

In 2011 gold hit $1,900 and this blog told owners to sell. Today it is worth 30% less. Holding bullion has been a disaster. – Garth

#200 Rexx Rock on 03.23.18 at 5:16 pm

Looks like its a nice store.Are you planning expand it to also sell booze and pot?That would be a real money maker.Something to think about!

#201 Ronaldo on 03.23.18 at 5:29 pm

#170 ben on 03.23.18 at 11:19 am

Garth, they want $15 an hour because housing prices have detached from wages. Because of politicians propping up prices, like the Home Buyers Plan.
——————————————————————
Housing prices in Toronto and Vancouver are barely affordable for those making $100/hr. I doubt that a raise to $15 will enable them to afford a house.

#202 ben on 03.23.18 at 6:24 pm

Ronaldo, I hardly think that makes them not want to get some of the way towards affording a home.

The georgist view on this is that if labourers had equal access to productive land they would be able to either demand a fair wage or make their own way. With most prime land taken and exorbitant rents demanded for them, labour is not in a position to bargain and must take subsistence wage.

Those with a claim on land should pay for the opportunity cost denied others via land value tax. Labour should *not* be taxed as it adds value – why discourage it.

Sadly we are a long way from all this and the main blockage in understanding is differentiating wealth creation from wealth appropriation.

The landlord appropriates wealth created elsewhere by demanding rent for access.

We need to tax these people heavily, it should not be a golden ticket.

#203 Madcat on 03.23.18 at 7:34 pm

#108 oncebittwiceshy on 03.22.18 at 9:58 pm
Madcat: “My landlord upped my rent $350 a month. When I pointed out that she was limited to only a few percent per year she said she had talked to the tenancy board and that all she had to do was get three comparables in my area and she would be allowed to bring my rent to current market value.”
<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<

Seriously, I don't know whether you work in the same real estate office or you are genuinely naive.

If you are truly that naive, you may actually be able to get some money back.

Good luck.

https://www2.gov.bc.ca/gov/content/housing-tenancy/residential-tenancies/during-a-tenancy/rent-increases

"The tenant may deduct from future rent any overpayment – only if the tenant has already paid an increase higher than the legal amount. The tenant should attach a note to the rent to explain the reason for not paying the amount that the landlord has asked for."

https://www2.gov.bc.ca/gov/content/housing-tenancy/residential-tenancies/during-a-tenancy/rent-increases/additional-rent-increase

To raise the rent above the maximum annual amount, the landlord must have either the tenant’s written agreement or an order from the Residential Tenancy Branch.

Policy Guideline – Rent Increases (PDF)"

I just did the research again and only recently has this particular method of rental increase been disallowed… I can tell you that I was not happy to have my rent increased but I knew anything similar in my area would be more than double so I didn't make a fuss.

https://biv.com/article/2017/12/bc-government-closes-loophole-allows-geographic-re

#204 Nonplused on 03.24.18 at 2:28 am

143 SunShowers

I’m smug? You know nothing. Women have never been paid less than men for the same job because it would never make economic sense to do so. Employers want productivity, not social justice.

#205 Gabriel on 03.26.18 at 4:11 pm

This place is a gem. I used to go every once in a while when I lived in the GTA. That was some time ago. Hope to get back.

But you’re right. Trying to make a go of it with a small business like this is pure folly. Very high cost structure and the government burden is enormous.

Dealing with government – no sane person would ever start a small business.