They’re coming

Trump punts Kim and tells the US military to “prepare.” Stocks sell off, bonds gain, yields fall as the Korean love-in fizzles. Trade war talk heats up again and even timid Canada gets into the act telling China it can’t buy construction giant Aecon. Washington gets all pissy saying it may impose a 25% tariff on maple-made cars. So much for NAFTA. Oil falls. So does 30 cm of snow in Newfoundland, a week before June starts. Climate change. Fishgate breaks out in Ottawa and in Ontario Tory leader Doug Ford is caught on tape breaking election laws, while the socialist hordes rise in the pre-election polls.

Most people are oblivious to this stuff, of course. They motor through life, want children and houses, hope for the best at work and figure they’re okay so long as they make more than they spend. It’s a shame, since so many will be surprised at the way risk can escalate. Never before have citizens been so over-extended in terms of debt, nor had so much net worth locked into a single asset.

Anyway, here are a few thoughts to frame your weekend.

Dippers on the bridge:
As mentioned this week, the unthinkable is drawing closer – Ontario voting in an NDP administration on June 7th. My freaking-out Con friends tell me the PC campaign is in tatters, with no cohesion, too little money and too much Ford. This is no longer an election about policy choices or economic vision, but simply a way for voters to punish the existing Liberal government by selecting the least-worst alternative. A carbon copy of what happened in BC – so if Ontarians want a glimpse into the future, look there. Carbon taxes. Higher income taxes. Stiffer business taxes. Speculation taxes. Luxury taxes. And inevitably, a wealth tax based on real estate.

The needy Million:
Apparently in the Toronto region alone there are one million Millennials still living with their parents – close to 20% of the entire GTA population. Never before in Canadian history have so many adults been so slow to begin independent living. They’re marrying later, having families later, staying in school longer and Hoovering up their parents’ retirement savings.

These are orange voters. A report this week estimates 700,000 of them will want to buy real estate, move to the suburbs, get minivans, shed their manbuns and, yes, grow up over the next decade. Of course, they can’t afford to. To buy the average house at the moment takes an income six times greater than the typical moister earns. Unless there’s a real estate crash, or incomes spiral higher, fuhgeddaboudit. So the answer for many of these kids (as was the case in BC) is an interventionist government using a tax hammer to beat the crap out of the market. Of course, the economy will go with it. So, prepare.

Say did you hear about the US couple (in New York) forced to go to court to evict their 30-year-old kid? I left home at 18. Laid rubber doing it, too.

Pray for the Drywallers:
It’s either a harbinger of what’s to come for the broader market, or the result of incompetence, but the new housing business is collapsing. In the massive GTA, homebuilders point the finger at government intervention, regulation, tariffs and levies that have restrict land development and jacked costs. Buyers have decided that prices are unjustified. And negative press about people who bought unbuilt houses a year ago suffering huge paper losses has been the kiss of death.

The number of new houses sold in April crashed 65% from the same month last year, with sales now running 70% below the 10-year average. You have to go back almost 25 years to find any period in which so few deals took place – and then the urban area was considerably smaller. As buyers walk away, detached house prices have fallen over the last 12 months, from $1.5 million to $1.2 million. More to come.

Hmm, so what are we to conclude?

Housing is a mess in most of the country. A patchwork of regulation, taxes, policies and emergency measures have so far done nothing to increase affordability. But more are coming. Voters demand it. Combined with rising US interest rates, a darkening trade picture and a big move left in Canadian politics, it’s not a great time to have the bulk of your net worth sitting visibly in one asset, on one street, in one city.

Look at the comments in this blog’s steerage section. So many Mills now equate wealth with real estate, and are happy to see “rentier” landlords hobbled, property taxes increased, second homes whacked and almost all housing investment labeled as corrupt. It’s easy to see a new, larger assault taking place on real estate equity, now that we’re running out of rich people to vacuum.

Remember the new mantra: get liquid, and live quietly among the masses.

236 comments ↓

#1 Constrained Supply on 05.24.18 at 5:34 pm

The number of new houses sold in April crashed 65% from the same month last year, with sales now running 70% below the 10-year average. You have to go back almost 25 years to find any period in which so few deals took place – and then the urban area was considerably smaller.

———-

So supply becomes constrained once again, pushing up demand, and ostensibly eventually prices. Great for the real estate bull. Not so great for the crash hopeful.

Remember a few years ago when the 40,000 GTA condo units that were to come online in 2017/2018 would crush the market with a flood of listings, and push prices lower? And now, ironically, the condo market is the only hot sector in the GTA due to its affordability with ever rising prices.

Funny how a potential negative becomes an actual positive in real life…

#2 NoName on 05.24.18 at 5:39 pm

“while the socialist hordes rise in the pre-election polls.” -GT

https://www.youtube.com/watch?v=HbbXgzfV6xg

#3 Ustabe on 05.24.18 at 5:43 pm

A carbon copy of what happened in BC – so if Ontarians want a glimpse into the future, look there.

A government that has accomplished or moved on over 75% of its campaign promises.

A government that has a significant popularity rating.

A government that seems to be tracking for the people, by the people instead of being manipulated by unseen money and forces.

Its just awful out here, don’t move here, don’t even come for vacation. Terrible I tell you.

#4 Yorkville Renter on 05.24.18 at 5:43 pm

I blame the misguided fools known as PCs for throwing away another easy win… FFS

[email protected][email protected]%×@/+!

#5 paulo on 05.24.18 at 5:50 pm

Ontario forgets history and votes in the dippers.
The tax exemption on profits from sale of principal residence gone within 24 monthes
That dysfunctional clown in the white house trashes nafta, pisses of the Chinese to the edge of disaster and causes a world wide break down in trade,that in the end causes the loss of millions of american jobs in addition to everybody else.
the result is a world wide recession,and the clown gets punted in the next election.
short term off to the cottage with the fishing rod and good bottle of scotch.
have a great weekend,at least the sun will rise every day despite our best efforts to cloud it out.

#6 dakkie on 05.24.18 at 5:54 pm

Blackstone Group, Cerberus Capital and others face a little problem.

http://www.investmentwatchblog.com/wall-street-mega-landlords-piled-into-spains-rental-property-boom-and-now-it-hits-a-wall/

#7 Sean TORONTO on 05.24.18 at 5:57 pm

THE [email protected]

#8 earthboundmisfit on 05.24.18 at 5:59 pm

Remember the new mantra: get liquid, and live quietly among the masses.

OK if I get that put on a t-shirt?

#9 Bibi on 05.24.18 at 6:01 pm

Considering the circumstances, NDP is a logical choice. Boomers get ready to pay up for your sins. Burn baby, burn!

#10 Hanging in New York on 05.24.18 at 6:04 pm

No worries about real estate here. Sun is shining and beer is flowing. Tourists everywhere. Money is no problem. Always thought Vancouver was center of the universe. This place is fantastic.

#11 sockeyemoon on 05.24.18 at 6:04 pm

Houses wither. They need work and the odd new roof or foundation. They do not fix themselves.

So you buy a house in a falling market and you make the bankers happy, you make the roofers happy, and if you live in Victoria where they just raised property taxes – you even make City Hall happy!

But what happens when you wake up and see that cash machine you call home going into the red? What happens when your neighbors see that too? Who are you planning to sell to?

#12 Doom Incarnate on 05.24.18 at 6:08 pm

Garth,

You say this, “Housing is a mess in most of the country.”

May I ask what constitutes most of the country?

Is Toronto + Vancouver most of the country?

It sure doesn’t seem like it. I mean, they’re big markets sure, but they are what? 10 million people at most. Out of 36 million Canadians.

Help a guy out?

I know that Toronto and Vancouver are your favourite places to focus you attention, but there is a real country out there beyond the borders of those two metros.

Or there really one Toronto and a distant star far from the center of universe with absolutely nothing in between?

If so, consider this a message from that void.

Cheers!

#13 Oakville Sucks on 05.24.18 at 6:09 pm

I will be voting NDP in a few weeks time. Almost persuaded to voted PC.

#14 Long Branch Apprentice on 05.24.18 at 6:10 pm

Liquidity and degrees of freedom + spending time how you want = wealth.

Real Estate = mortgage obligation on an illiquid asset that consumes capital to maintain.

If you can’t control your emotions, you likely lack the ability to control your money.

#15 Smoking Man on 05.24.18 at 6:12 pm

Remember the new mantra: get liquid, and live quietly among the masses.
……

Need to work on the quiet bit… Everything else is liquid.

#16 silence on 05.24.18 at 6:13 pm

“Remember the new mantra: get liquid, and live quietly among the masses. – GT”

#17 MSM-Free Zone on 05.24.18 at 6:14 pm

“….My freaking-out Con friends tell me the PC campaign is in tatters, with no cohesion, too little money and too much Ford…..”
__________________________________________

Yeah, that pretty much sums it up, especially the last three words.

A (C)onservative hat-trick……low your brains out 3 elections in a row. Who could have seen that in their crystal ball?

Could have had a decent (c)onservative under either of the other two top contenders, but no, epic (C)onservative failure v3.0

If Ontario continues to circle the toilet bowl in the future, don’t blame the NDP. Blame the (C)ons who fertilized the province with weeds and allowed it to happen, yet again.

#18 jess on 05.24.18 at 6:15 pm

weed industry too buying houses and growin” dozens of homes raided

Black market for pot growing despite legalization in Colorado
Posted: May 23, 2018 10:04 PM ET | Last Updated: May 23

http://www.cbc.ca/news/thenational/black-market-for-pot-growing-despite-legalization-in-colorado-1.4675640

#19 Raging Ranter on 05.24.18 at 6:21 pm

Anyone else notice an increase in the number of deniers who show up here and elsewhere and frenetically post rebuttals to every single negative comment about the GTA housing market? Lots of over-leveraged fools out there with “property investor” on their LinkedIn profiles. And they’re getting really scared. Maybe borrowing against your equity to buy those “income properties” wasn’t such a great idea?

#20 Ian on 05.24.18 at 6:30 pm

I agree the PC campaign is in tatters but it’s a ‘should have been 90+ seats’ v ‘mid 70s more likely’.

The provincial standard is a disaster. My home riding of Etobicoke Centre hit the news again as Ford’s candidate wasn’t nominated so honestly.

Had a chat with an ex MP friend today and he agrees the provincial scene is a haunted house at Niagara Falls. Said he would never, ever get involved at that level. Really, really bad.

Anyway I don’t see a 1990 repeating. Sure hope I’m right.

It’s time to really hammer the NDP on all their free shit unicorn thinking. I mean really hammer them.

M49ON – Ultra, er, Blues

#21 Bibi on 05.24.18 at 6:31 pm

Joking aside, I think PC is going to win, despite DF. They hold too many ridings with rural/old stock Canadians. Go Blue go! I only wish for more BC style anti-foreign housing taxes here. That’s why I like NDP. I think many will agree.

#22 MF on 05.24.18 at 6:35 pm

This millennial is going to hold his nose vote for Ford (yes yes I know I’m actually voting for my local counselor, but you get the idea). Can’t stand him but we have no other choice.

Nominating him was the dumbest idea ever.

MF

#23 -80% YVR Bear on 05.24.18 at 6:37 pm

Hi Everyone,

While we’re on the topic of politics, who should I vote for in Van in the next civic elections if I want a RE collapse? OneCity? COPE? ProVancouver? Green?

Thanks,

#24 pic on 05.24.18 at 6:37 pm

That today’s pic, though.
Damn, she’s hot.

You have just harassed this blog. Pay up. – Garth

#25 Concerned NDP voter on 05.24.18 at 6:37 pm

I have always been an NDP voter but sanctuary province and $15 minimum wage increase is a bad idea. If she wins a minority the chances of her making crazy changes would be limited? Is there a chance NDP can win? I dont know anyone that’s even talking about NDP except the media.

#26 brian1 on 05.24.18 at 6:43 pm

If only Andrea was the leader of the Conservatives I would vote for them.

#27 RentYVR on 05.24.18 at 6:44 pm

Garth, you honestly can’t believe that the Dippers have a shot at winning the election. Thier votes are way too concentrated to win in a first-past-the-post system for that to happen. Where are they going to pick up the seats needed to form a majority?

#28 paul on 05.24.18 at 6:50 pm

Attended a pre-sale Condo site today the folks were lined up to get in,
Just to have their name put on the “a” list.

#29 Linda on 05.24.18 at 6:54 pm

A drop in average housing price from 1.5 million to 1.2 million in the GTA is significant, but housing at that price is still too expensive.

That is new-build only. Resales have fallen a greater percentage. – Garth

#30 TheDood on 05.24.18 at 6:54 pm

#163 Conn Smythe on 05.24.18 at 1:36 pm

…..Dude, or rather Dood, it’s not going to happen, pure and simple. Supply is tight, demand is ongoing……
___________________________

Excellent!

Everyone listen up ……. all is rosy in the GTA! Supply is tight and demand is ongoing. Go ahead and buy, Mr. Smythe says its all good to go! Debt be damned!

#31 tbone on 05.24.18 at 6:55 pm

Regarding a comment yesterday about houses in 1980 only going up 6 % if you held onto them until now .

I think anybody buying houses back then wasn’t really thinking of it as an appreciating asset .
It was a place to live and raise a family and know that you cant be turfed to the curb on the whim of a landlord .
It gave stability to the kids knowing they will attend the same school for the duration and not having to move around .
It was a just a home , and if it went up in value , so be it .
I never thought of it as an investment back then .

#32 Gramps on 05.24.18 at 6:56 pm

Live quietly among the masses….does this mean I have to move back into my parents basement?

#33 Nut on 05.24.18 at 6:56 pm

Hey, smoking man, the masses will think “get liquid” means liquor.

#34 FOUR FINGERS WATSON on 05.24.18 at 6:59 pm

Remember the new mantra: get liquid, and live quietly among the masses.
………………………

Translation: get tequila and hide in the woods.

#35 Reynolds531 on 05.24.18 at 7:04 pm

I heard an opseu commercial on the radio today. Circling the wagons for public jobs.

#36 conan on 05.24.18 at 7:05 pm

Dippers on the bridge:

It is not all gloom and doom. Faint hope clause for the wheels and bumpers to fall off the Do Fo crusade of nuttiness. That 407 information fiasco ….is bad.

If that happens, votes will move back to Liberal, and we are going to see a minority government led by either the NDP or the “Kathleen.”

#37 Reality is stark on 05.24.18 at 7:11 pm

So higher taxes coming.
More taxes bring prosperity and opportunity.
Throw all your economic textbooks out the window.
We are going to implement Venezuelan policy but it will have a different result here as the NDP has a magic dust that creates entrepreneurs that want their efforts confiscated.
The uninspired will offer you employment. Of course they don’t expect much so you won’t have to work hard. Good luck with that.
The desire to achieve in this country is gone. The next phase occurs when judges are told to go soft on stealing as the poor have little other choice. Hang on to these memories as our country slowly heads toward decline. An unmotivated populace is like a cancer.

#38 theoryAndPractice on 05.24.18 at 7:15 pm

#19 Raging Ranter on 05.24.18 at 6:21 pm

There are so many houses I know through Internet inside and outside 905, purchased for speculation. They are caught very badly. (because people normally don’t put a house just purchased on sale around closing date. Re-listed firstly expenses added to purchase price, then couple of 100K’s coughed in each terminated listing, as a last resort attempted to rent but price to cover up is too high then terminated again, and again.)

It is just ‘time’ that will make people understand what is really happened. Downside of housing market will take years to complete (not tomorrow, or in months) and will completely destroy the people caught in speculation, and will punish everyone else by destroying the economy.

#39 pay your taxes on 05.24.18 at 7:17 pm

Garth, you can’t blame young people for equating real estate with wealth as it has been evident for their entire lives. That boom was probably many people’s last chance to move up in the world. Salaries aren’t going anywhere and while a 6 to 8 percent return on an investment is nice, it sure hasn’t kept pace with the increasing cost of housing.

Many readers of this blog are educated professionals who can afford lots of shiny things except their own home. Doomed to be filthy renters who can be turfed out like a smelly bag of garbage at the whim of someone who bought at the right time. With vacancy rates at or below 1%, these people are little more than well heeled hobos.

I was joking with a stubborn friend who has been waiting for “the crash” and saving his pennies while others bought. They warned him, tried to tell him, but to no avail. He’s out, they’re in. Now this saver’s kids are doomed to be part of the underclass, wandering from hovel to hovel, town to town, trying to find a place to call home.

I was in the market and have been out for a long time. A childless drifter, houses hold no appeal for me but if I had kids it would be a different story.

#40 LivinLarge on 05.24.18 at 7:17 pm

“And negative press about people who bought unbuilt houses a year ago suffering huge paper losses has been the kiss of death.”…well yup that would put the fear into any sane person.

All I can see now is that “Most Interesting Man in the World” with the “Stay liquid my friend”.

#41 Rule of Law on 05.24.18 at 7:26 pm

DELETED

#42 Victoria - the original on 05.24.18 at 7:27 pm

There is a massive shortage of doctors in Victoria. My husband’s GP just told him he is leaving Victoria and moving his practice up-island. He is from the US, early 50s and refuses to spend $800,000 on a dumpy house in Victoria. $800,000 does not get you much. He would like to move back to the US – his wife in Canadian…. On a happier note a friend’s young son-in-law firefighter and his stay-at-home wife (two little kids) just bought their starter home. $700,000. Needs a little work… when they are finished it should be 1,2 million for a nice starter home, young people, fireman….(no family money)….

#43 VanMan on 05.24.18 at 7:35 pm

Most people are oblivious to this stuff, of course. They motor through life, want children and houses, hope for the best at work and figure they’re okay so long as they make more than they spend. It’s a shame, since so many will be surprised at the way risk can escalate. Never before have citizens been so over-extended in terms of debt, nor had so much net worth locked into a single asset.

____________

The reason so many walk among us oblivious to risk is that they have never been allowed to suffer the consequences of their piss poor decisions. The coddling of heli-parents got us through our youth and now the intervention and bailouts of Gov’t have saved us from ourselves. Emergency interest rates that became the norm, access to endless supplies of credit, HELOC’s on our lotto tickets (houses), extended financing, lax lending rules, take now and pay later mentality on literally everything.

It’s only when we’re forced to suffer do we truly learn the consequences. It’s why we eat poorly, fail to exercise, work late, waste time, etc. etc…. We as humans cannot make intelligent decisions until it’s too late whether it’s a sudden health crisis, the Repo Man comes knocking, or the loss of a loved one slaps you upside the head.

#44 Ian on 05.24.18 at 7:37 pm

Christine Elliott +90 seats
Ford Nation ~75 seats

Too bad I couldn’t vote in the leadership, I knew this would matter in the general election…

Vote Blue, people. Give him a chance to govern and allow him to fix these broken finances.

UltraBlues.

#45 Raging Ranter on 05.24.18 at 7:39 pm

@#38theoryandpractice, Macleans wrote an article specifically about those people. Lost hundreds of thousands of dollars in a couple of months. And it wasn’t just a few dozen. One study identified several hundred who bought, then resold at a big loss, with another thousand or so who relisted but the house still hadn’t sold when the study period ended. Wonder how many divorces that caused already.

People will point to a few bidding wars in a handful of in-demand neighbourhoods. They don’t seem to understand that not everyone’s pants are going to fall down around their ankles at the same time. This is a process. And it’s just starting. The US market reached its zenith in July 2006, then hung there for half a year, before starting to drop in 2007. Then it took anther 18 months to reach crisis levels. Ireland and Spain were similar. Don’t worry though. It’s different here/this time.

#46 Steven Rowlandson on 05.24.18 at 7:42 pm

#9 Bibi part of the problem is that too many boomers think that sin is a virtue particularly if their peers are doing it.

#47 Happy Housing Crash Everyone! on 05.24.18 at 7:42 pm

Panic in the RE industry. You can see the fear leap off your screens. Post after post of mindless drivel that reeks of ignorance and stupidity. With sales and prices falling month after month you can imagine the financial strain these people must be suffering? The fear of having to work for very little money scares this unskilled group. The day of lying and hitting a sign in the ground are over. It’s time these people go back to school and get a real skill.
Happy housing crash everyone! :-)

#48 Tony on 05.24.18 at 7:47 pm

I won’t be voting at all. I would have voted for Ford until he came up with the line about removing the foreigners tax on housing. This would drive home prices in the GTA higher than in Vancouver and hobble the entire country and drive the Canadian dollar down to 50 cents.

#49 Pecs Rockhard on 05.24.18 at 7:47 pm

Government is the answer! Here is what the government should do to fix our housing woes:

* Stop treating shelter as an “investment.” The government should treat profits from the sale of a home as income.
* Strengthen protections for renters. Landlords should not be able to evict tenants in favour of themselves or family members. Rent controls should apply even on vacant units.
* Ban foreign ownership. Owning land in Canada should be the exclusive right of Canadian citizens.
* Use whatever means available to incentivize the construction of rentals units: tax breaks, direct subsidies, streamlined regulation, improved zoning laws, and so on.
* Impose severe financial penalties on “gentrification.” Replacing affordable houses with monster luxury homes affordable by only the super elite should be strongly discouraged.
* Encourage boomers to downsize by constructing luxury condos and other appealing places for them to go.
* Impose additional regulations on the banking sector to prohibit loaning excessive amounts. A 20% down payment should be *required* to get a mortage. Period.

That should about do it.

#50 Funky on 05.24.18 at 7:50 pm

The new mantra…works for me! Thanks again.

#51 Guy in Calgary on 05.24.18 at 7:50 pm

Jagmeet Singh will be the logical next step. Then we are all doomed.

#52 JSS on 05.24.18 at 7:51 pm

NDP coming to Ontario. 2018.
Get used to it as early as now.

#53 mitzerboy aka queencity kid on 05.24.18 at 7:53 pm

x2
garth
i can party on

#54 Ex-Cowtown on 05.24.18 at 7:53 pm

#3 Ustabe on 05.24.18 at 5:43 pm
A carbon copy of what happened in BC – so if Ontarians want a glimpse into the future, look there.

A government that has accomplished or moved on over 75% of its campaign promises.

A government that has a significant popularity rating.

A government that seems to be tracking for the people, by the people instead of being manipulated by unseen money and forces.

Its just awful out here, don’t move here, don’t even come for vacation. Terrible I tell you.

++++++++++++++++++++++++++++++++++

The only reason BC is such a great place to live (for the next few moments) is because other people in Canada and around the world do dirty jobs to support BC’s lifestyle.

Not much different than the spoiled 30 year old living off his parents. Living is easy when someone else did all the heavy lifting for you.

Same as the spoiled SJW snowflakes. Free speech means nothing as it was their grandparents that paid for it.

If BC (LM and Victoria) had to pull it’s own weight it would cry like a little tiny baby with diaper rash.

#55 X on 05.24.18 at 7:55 pm

As a bonus some get double land transfer tax already….

#56 Dolce Vita on 05.24.18 at 7:58 pm

“…have so far done nothing to increase affordability.”

Immediate Gratification thinking.

It has just started.

2 years historically for a correction to unfold (or crash).

Spring was test the waters with small price drops, result: little or no sales.

September 2018 is when prices drop substantially; otherwise, another 7 month wait for the 2019 April-May peak sales season.

Before 2019 April-May comes VRM interest rate hikes, fixed rates continuing to increase, NAFTA devolving to WHO tariffs, a Red Ontario, and the list goes on.

O ye, of little faith.

#57 Suburban Bob on 05.24.18 at 8:00 pm

I hate to say it but I find I have no choice but to vote NDP. Never did before, always Tory or Libs but Ford is a complete fool and Libs have been there too long. My neighbour was chatting with me today, and feels the same way. I think this is perhaps a widespread sentiment.

Strange times ahead, for sure.

#58 Gambler Canadian Millenial on 05.24.18 at 8:00 pm

[quote]As mentioned this week, the unthinkable is drawing closer – Ontario voting in an NDP administration on June 7th.[/quote]

Are you eager to gamble on this claim?

Reporting polls. I don’t gamble. – Garth

#59 Newcomer on 05.24.18 at 8:00 pm

#23 -80% YVR Bear on 05.24.18 at 6:37 pm
Hi Everyone,

While we’re on the topic of politics, who should I vote for in Van in the next civic elections if I want a RE collapse? OneCity? COPE? ProVancouver? Green?

——

Most definitely, the Greens. They have the most aggressive platform and they are pro-business and anti-corruption, which both translate to market pricing.

https://www.bcgreens.ca/affordable_homes

#60 Steven Rowlandson on 05.24.18 at 8:01 pm

As an unemployed stair builder my hours and pay rate did not rise with the price of homes. Rising home prices stopped me from getting started in life and ultimately put a stop on employment opportunities by cutting off demand for homes or to be more precise the ability to pay for them. We are still in a 30 to 60 thousand dollar home economy based on what employers want to pay their working men and employers have no desire to add a zero to their workers rate of pay so that their workers can pander to this outrageous real estate market. It isn’t going to happen. Serious write downs in home prices are a precondition for economic revival based on sound financial practices and principles.

#61 Yorkville Renter on 05.24.18 at 8:01 pm

If you rent from a corporation, you can’t get kicked out on a whim… People love to complain about the risks of renting, but do nothing to address said risk.

#62 the Jaguar on 05.24.18 at 8:02 pm

” I left home at 18. Laid rubber doing it, too.”

I did too, Garth. But given the increased number of cultural traditions in this country vis-a-vis immigration from other countries, doesn’t it make the numbers higher? Some are not encouraged to leave until they marry. They don’t rent flats with “roomies” to establish independence from their parents.
Even the italians have that tradition and they have been here in large numbers for 70 plus years. ( I love all things italian by the way, so don’t write me).
Keep reading in the newspapers that mortgage ‘growth or originations’ so down almost 50%.
Mercy. Wonder if we peeled back the onion on those numbers if we might find what was being underwritten was largely refinance requests to pull out equity gained due to market appreciation and pay off high interest rate debt. The cautious ones are getting the wagons in a circle as rate increases loom on the horizon.
No Bandit photos in the instagram shots. They probably have some nice big heritage trees in Lunenburg where a dog like Bandit could lie in the shade while someone brushed his fur coat.

#63 pay your taxes on 05.24.18 at 8:04 pm

#52 ex downtown

The only reason BC is such a great place to live (for the next few moments) is because other people in Canada and around the world do dirty jobs to support BC’s lifestyle.

Not much different than the spoiled 30 year old living off his parents. Living is easy when someone else did all the heavy lifting for you.

Same as the spoiled SJW snowflakes. Free speech means nothing as it was their grandparents that paid for it.

If BC (LM and Victoria) had to pull it’s own weight it would cry like a little tiny baby with diaper rash.

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

What the hell was that about? Did someone cut off your truck nuts? I didn’t realize that resource workers were also champions of free speech.

Hopefully things will pick up again in the patch but so far it looks like a jobless recovery in oil prices. I miss the days of bogans pulling down 6 figures.

#64 AK on 05.24.18 at 8:07 pm

“Trump punts Kim and tells the US military to “prepare.” Stocks sell off, bonds gain, yields fall as the Korean love-in fizzles.
====================================
North Korea responded a couple of hours ago, saying that they are willing to meet with President Trump any time.
The President knows how to deal with these nut bars…

In other words, Trump blew it? – Garth

#65 AK on 05.24.18 at 8:08 pm

“As mentioned this week, the unthinkable is drawing closer – Ontario voting in an NDP administration on June 7th.”
=====================================
Doubt it happens. Too many memories from 1990…

#66 Long-Time Lurker on 05.24.18 at 8:10 pm

#95 Renter with reliable job, two kids on 05.24.18 at 1:50 am

Any ideas how to turn this into a win/win situation?

>Craigslist ad

and:

#150 rental property math on 05.24.18 at 12:32 pm
#141 Newcomer on 05.24.18 at 11:50 am

People tend to tell me we are very lucky with the place we rent. I know that it isn’t luck. When I was last looking for a place, I made a handout describing each member of our family, including our cat, our source of income, our credit rating and our references. I organized it so the highlights were easy to see and understand.

——————
It’s got to the point with shitty tenants if I don’t see a slight write up like yours I don’t even reply to the inquiry.

Great job getting in the head of a landlord. If you had sent that to me, you’d get a reply within 3 minutes and would easily be the first pick.

#157 Tom Patterson on 05.24.18 at 12:54 pm
Bond yields are falling fast again today. The 30 year Canada bond can’t go higher than 2.51%. It tested that at least 4 times in the last 18 months.

It seems the higher interest rate train is once again a false prophecy.

>Two days ago Turkey raised it’s bond interest rate from 3% to 20%. It’s because the lira (Turkish currency) is crashing. That’s what I mean by interest rates getting out of control: confidence crisis. Can’t happen in the U.S. or here?

#67 Long-Time Lurker on 05.24.18 at 8:12 pm

#95 Renter with reliable job, two kids on 05.24.18 at 1:50 am

Any ideas how to turn this into a win/win situation?

>Craigslist ad

and:

#150 rental property math on 05.24.18 at 12:32 pm
#141 Newcomer on 05.24.18 at 11:50 am

People tend to tell me we are very lucky with the place we rent. I know that it isn’t luck. When I was last looking for a place, I made a handout describing each member of our family, including our cat, our source of income, our credit rating and our references. I organized it so the
highlights were easy to see and understand.

——————
It’s got to the point with shitty tenants if I don’t see a slight write up like yours I don’t even reply to the inquiry.

Great job getting in the head of a landlord. If you had sent that to me, you’d get a reply within 3 minutes and would easily be the first pick.

#157 Tom Patterson on 05.24.18 at 12:54 pm
Bond yields are falling fast again today. The 30 year Canada bond can’t go higher than 2.51%. It tested that at least 4 times in the last 18 months.

It seems the higher interest rate train is once again a false prophecy.

>Two days ago Turkey raised it’s bond interest rate from 3% to 20%. It’s because the lira (Turkish currency) is crashing. That’s what I mean by interest rates getting out of control: confidence crisis. Can’t happen in the U.S. or here?

#68 For those about to flop... on 05.24.18 at 8:15 pm

“I left home at 18. Laid rubber doing it, too.”-Thor Turner.

Yeah ,that’s the more traditional way of doing it.

Buying my parents house at 19 and telling them to get out gave me some satisfaction as well…

M43BC

#69 SimplyPut7 on 05.24.18 at 8:16 pm

These are orange voters.

———————————

Millennials don’t vote. If they took voting seriously, Trump wouldn’t be President.

I still think it will be a Conservative majority, with NDP as the opposition.

You have thousands of voters who don’t enjoy paying more than half of their salary in taxes. It will only get worse under the NDP.

#70 dosouth on 05.24.18 at 8:23 pm

#3 Ustabe on 05.24.18 at 5:43 pm – ….”A government that has accomplished or moved on over 75% of its campaign promises.

A government that has a significant popularity rating.”

——————————————————-

Where have the Orange gang delivered on over 75% of their promises? Costing us Millions in attempting to hang onto power before waiting in the wings for another 17 years…..get real.

Greens constantly threatening to bring down Horgan…not likely, like the attention like toddlers. Again costing us millions a day in lost jobs and revenues. Don’t care who is in gov’t, all a waste of space but don’t take money and jobs out of the people who go to work everyday hoping they made the right decisions…..apparently not likely at this point.

Fake news and fake quotes, bet you’re under 45….and PS they ain’t that popular, maybe in your world?

#71 Triplenet on 05.24.18 at 8:25 pm

DELETED

#72 The Real Mark (not the imposter) on 05.24.18 at 8:25 pm

#67
“Buying my parents house at 19 and telling them to get out gave me some satisfaction as well…”

Please do tell us more. Sounds like a very intruiging story.

#73 saskatoon on 05.24.18 at 8:25 pm

seriously, what does anyone expect when government itself is the largest employer in canada?

x 2 fold.

government employees contribute nothing to the cost of running government itself…they only take.

why should people that contribute nothing to something be allowed to have a say in that something?

i can walk into a store and even buy something…but i would get laughed at if i started managing the store, and telling the owners what to do.

if you don’t contribute to the cost of operating government, you don’t get a say in how government operates.

otherwise…well, just take a look around.

#74 Be Realistic on 05.24.18 at 8:30 pm

Here is the future population growth projection from the Ontario government:

– Ontario’s population is projected to grow by 30.3 per cent, or more than 4.2 million, over the next 25 years, from an estimated 14.0 million on July 1, 2016 to more than 18.2 million by July 1, 2041.

– The Greater Toronto Area (GTA) is projected to be the fastest growing region of the province, with its population increasing by almost 2.9 million, or 42.3 per cent, to reach
9.6 million by 2041. The GTA’s share of provincial population is projected to rise from 48.3 per cent in 2016 to 52.7 per cent in 2041.

Yeah, so those people need to live somewhere. People are living longer, seniors refuse to budge their home of memories, and 700,000 millenials want a suburband home with a two car garage and big backyard.

Supply and demand. Apple may buy back shares, but Mother Earth isn’t making more land.

I don’t understand how all of you RE gloomers can pretend none of the above exists.

Source: https://www.fin.gov.on.ca/en/economy/demographics/projections/

#75 Doug Ford on 05.24.18 at 8:31 pm

…is a moron to publicly state that he will remove the foreign buyers tax and jack property prices.

The guy is out of touch with the emerging demographic millennials who know what is going on.

As Garth reluctantly states here time and time again: foreign money hijacked the real estate market in Vancouver and Toronto and drove prices to the moon.

No it did not, nor did I state so. When 5% of buyers are non-residents, 95% of the problem is systematic. – Garth

#76 Wallflower on 05.24.18 at 8:38 pm

#74 Be Realistic on 05.24.18 at 8:30 pm

So………. are you saying that Ontario Government demographic projections/predictions are better than their deficit and debt projections; better than their business/economic projections?
Are you saying that the government’s data projections are solid and substantial and reliable?

#77 Pecs Rockhard on 05.24.18 at 8:39 pm

One policy proscription I forgot:

* The government must end all programs designed to incentivize home ownership. No more borrowing from your RRSP, no more RRSP mortgages, and no more CHMC insurance. Doubtless there are more incentives of which I’m unaware. The government should cancel those too.

#78 Moses71 on 05.24.18 at 8:45 pm

If you don’t like your city’s real estate prices, then move. You’ll get old waiting for a turn to jump in. Some have already taken the 1st steps by being cynical. Get over it .Very sad indeed.

#79 Screwed Canadian Millenial on 05.24.18 at 8:48 pm

DELETED

#80 FOUR FINGERS WATSON on 05.24.18 at 8:53 pm

In other words, Trump blew it? – Garth
…………………

Little Rocket Man man blew it. While probably not a huge surprise following the recent escalation in US and North Korean diplomatic outbursts, which last night culminated with a top North Korean official calling Mike Pence a “political dummy”, and warning that if the upcoming summit between the US and North Korea is called off, the U.S. could instead face off with North Korea in a “nuclear-to-nuclear showdown”. Trump did the right thing.

#81 Ustabe on 05.24.18 at 8:53 pm

Fake news and fake quotes, bet you’re under 45….and PS they ain’t that popular, maybe in your world?

I’m 71.

Been involved one way or another with the conservative movement in Canada since Dief. Dues paying member since I was able, voted pure PC until Mulroney.

And here I am, telling you my story, far less damaged and far less stupid.

#82 Ron on 05.24.18 at 8:58 pm

#74 Be Realistic on 05.24.18 at 8:30 pm

Supply and demand. Apple may buy back shares, but Mother Earth isn’t making more land.

————————-

The Green Belt is no less fictitious than shares of Apple.

#83 Ray on 05.24.18 at 8:58 pm

Ford visited Chtham Ontario last month 600 people showed up. He was back yesterday, same venue, same town…….250 showed up. This area has usually solid PC ridings.

#84 NoName on 05.24.18 at 8:59 pm

interesting video, my hard cover a mail…

if you have an hour to watch, watch, if not fast forward to 25min. apparently divercity make people paranoid, or something like that…

https://www.youtube.com/watch?v=Fgfo8Dw2aSI

#85 Ian on 05.24.18 at 8:59 pm

#74 Be Realistic

You be realistic, and tell me that Ontario didn’t have an influx of people from 89-96 (85-92 in the Mark Real Estate Gregorian Calendar), as median price in Toronto fell for seven years straight, and fell by a third.

That was after a mere four year bull market. The current one has been 21 years (17 in Mark years).

Let me know how that works out for you RE bulls after the longest, most absurdly debt-ridden debacle in this country’s history.

#86 Camille on 05.24.18 at 9:00 pm

Don’t like Trump? He blew nothing. He is the cause of this potential progress with NK. Yes, there are risk. Now Trump is judged. Building on his efforts much? On the work of others? Bob Rae’s government was so awesome, and he continues to do such great work. Pretender conservatives.

#87 What can I say about that? on 05.24.18 at 9:05 pm

“So the answer for many of these kids (as was the case in BC) is an interventionist government using a tax hammer to beat the crap out of the market. Of course, the economy will go with it. So, prepare.” – Garth

——————————————————-

They have been an interventionist government since when they introduced the 40 year, zero down mortgages, since when they created the CMHC cartel, since when they introduced the RRSP home buyers plan, since they dropped rates to zero, since…well…always actually. Now, they’re just going n the opposite direction.

#88 conan on 05.24.18 at 9:08 pm

In other words, Trump blew it? – Garth

That recent North and South Korean Leaders meeting was ice breaking. Trump should have left them alone, not claim a slice of the Nobel Peace Prize.

Trump allowing Bolton talk about a Libyan solution to the Korean problem. Hello? You just lost the deal there in an obvious and “stupid” way, which is bad…

IMHO, Kim wants to hold on to his weapons, stay in power, and be immune from the World Courts.

Not many ways to solve this problem:

A) Allow the North and South to figure this out for themselves.

B) A one hundred year deal. N korea would have that time; to hide its crimes, educate its people, modernize its economy, and get rid of the Kim Dynasty.

Trump waving the nukes is NOT the way to be right now. Nor, is contemplating any kind of land assault. The whole country is a fortified bunker backed up by nuclear weapons.

I am on the “He blew it side.”

#89 WUL on 05.24.18 at 9:09 pm

I’m sorta like the incomparable Frank Mahovlich. Left wing.

Fright Wingers are comical and they tend to undo themselves. All this talk about Canada becoming Venezuela, Ontario cratering, Rae Days, the end of days with the Dave Barrett in BC, etc., etc.

Young folks, when you hear this fear mongering, remember they are not offering advice in your best interests. They are cowing you into serving their best interests.

They earned Brexit.

Ask them about the crime against youth in Canada, namely the Temporary Foreign Worker program. It is not temporary. It is permanent. They joke about youngsters living in their parents’ basements. The alternative they created is to live 8 to a 2 bedroom apartment just like the po’ folk the job creators exploit.

Go orange. More to follow.

M61AB (Fearless in the face of Fright Wingers)

#90 For those about to flop... on 05.24.18 at 9:09 pm

#72 The Real Mark (not the imposter) on 05.24.18 at 8:25 pm

#67
“Buying my parents house at 19 and telling them to get out gave me some satisfaction as well…”

Please do tell us more. Sounds like a very intruiging story.

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

O.k ,I’ve told parts of this story before but I will try to expand.

I started my apprenticeship at 15 y.o, I didn’t want to go to college or university.

By 19 I had finished my apprenticeship and was a real seal certified tradesman.

One day when I come home from work ,my mum and dad said they were thinking of moving.

They looked around for a while and while they did I thought what I wanted to do as I had been thinking about moving out anyway.

My parents found a project house that had been neglected by a divorced/ separated couple and decided to buy it for $105k

I decided to make an offer of 55k on my childhood home ,it was probably worth 60k at the time so I got a slight discount ,more for helping them move and to store some stuff until they got settled in ,more than anything else.

I had 10k or so in the bank when I left high school and the last two years of my apprenticeship I was earning half decent money for a kid and so I put down a 35k deposit and had the house paid off by the time I was 22 or so.

Tasmania is not like Sydney and Melbourne,if you want a house, and are working,you should be able to find one that suits your tastes for a reasonable price.

People on the blog have called me renter loser because of my Pink Project.I got my real estate fascination over and done with early in life, some things about owning are better, and sometimes in some cities renting is better,but you should do what makes sense to you.

I live within my means and don’t even have a credit card.If I need one to book something, I just lend my wife’s and give her the cash and she gets the points as well.

I got chirped a couple of times the other day when I told the story about coming home from work and finding my house on fire and saving the house.

It was only house I had ever lived in and I couldn’t imagine telling my dad I stood on the front lawn while the house I had bought from them burnt down.

Another reason I mentioned sitting in the car and thinking about going for a few beers at the auto body shop around the corner was because I had known the guys at the auto body shop my whole life and I had just driven by there ,and one of the guys done the universal sign for having a drink.

It was the early nineties, topless posters all over the walls ,no customers complained.People would come and go and pick up their cars and we would have few beers on the side and satisfied customers would bring beer.

Things were different back then.

Back to the house,I sold it for 70k a few years later.

It is probably worth around 200k now.

My parents renovated their move- up house with my help and recently sold it for 300k after living in it for roughly two decades.The wouldn’t have made any money.

The moved to Queensland to start their retirement in a condo.

Then my dad got cancer.

Now he is fighting for his life.

Not all stories have happy endings…

M43BC

#91 FOUR FINGERS WATSON on 05.24.18 at 9:10 pm

. When 5% of buyers are non-residents, 95% of the problem is systematic. – Garth
……………….
David Rosenberg has issued yet another piece of blistering common sense (which most mainstream and sellside economists seem to lack in wholesale amounts these days), in which he explains why the action at the margin is all that matters for asset prices and all that follows.
Supply and demand at the margin in the real estate market consists of those who have “For Sale” signs on the lawn and those who are actively looking to buy. The price of the entire market is in their hands, not in the hands of those who are confidently sitting tight. This is important because it was the action at the margin that took prices parabolic, and all homeowners benefited during the bubble.

From Arthur Zeikel;
“As all of us were taught, but most of us have long since forgotten, economic change occurs at the margin, where the action takes place… individuals who can think on the margin always have an advantage over those who cannot.”

#92 For those about to flop... on 05.24.18 at 9:12 pm

#72 The Real Mark (not the imposter) on 05.24.18 at 8:25 pm

#67
“Buying my parents house at 19 and telling them to get out gave me some satisfaction as well…”

Please do tell us more. Sounds like a very intruiging story.

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

O.k ,I’ve told parts of this story before but I will try to expand.

I started my apprenticeship at 15 y.o, I didn’t want to go to college or university.

By 19 I had finished my apprenticeship and was a real seal certified tradesman.

One day when I come home from work ,my mum and dad said they were thinking of moving.

They looked around for a while and while they did I thought what I wanted to do as I had been thinking about moving out anyway.

My parents found a project house that had been neglected by a divorced/ separated couple and decided to buy it for $105k

I decided to make an offer of 55k on my childhood home ,it was probably worth 60k at the time so I got a slight discount ,more for helping them move and to store some stuff until they got settled in ,more than anything else.

I had 10k or so in the bank when I left high school and the last two years of my apprenticeship I was earning half decent money for a kid and so I put down a 35k deposit and had the house paid off by the time I was 22 or so.

Tasmania is not like Sydney and Melbourne,if you want a house and are working,you should be able to find one that suits your tastes.

People on the blog have called me renter loser because of my Pink Project.I got my real estate fascination over and done with early in life, some things about owning are better, and sometimes in some cities renting is better,but you should do what makes sense to you.

I live within my means and don’t even have a credit card.If I need one to book something, I just lend my wife’s and give her the cash and she gets the points as well.

I got chirped a couple of times the other day when I told the story about coming home from work and finding my house on fire and saving the house.

It was only house I had ever lived in and I couldn’t imagine telling my dad I stood on the front lawn while the house I had bought from them burnt down.

Another reason I mentioned sitting in the car and thinking about going for a few beers at the auto body shop around the corner was because I had known the guys at the auto body shop my whole life and I had just driven by there ,and one of the guys done the universal sign for having a drink.

It was the early nineties, topless posters all over the walls ,no customers complained.People would come and go and pick up their cars and we would have few beers on the side and satisfied customers would bring beer.

Things were different back then.

Back to the house,I sold it for 70k a few years later.

It is probably worth around 200k now.

My parents renovated their move- up house with my help and recently sold it for 300k after living in it for roughly two decades.The wouldn’t have made any money.

The moved to Queensland to start their retirement in a condo.

Then my dad got cancer.

Now he is fighting for his life.

Not all stories have happy endings…

M43BC

#93 dr talc on 05.24.18 at 9:26 pm

MSM outrage over Ford’s vote rigging is laughable: proven liars demand honesty.

In a system built on lies, you fight fire with fire.
Doug’s faithful will remain steadfast.

#94 Jerry on 05.24.18 at 9:29 pm

“Where have the Orange gang delivered on over 75% of their promises? Costing us Millions in attempting to hang onto power before waiting in the wings for another 17 years…..get real.”
“Fake news and fake quotes, bet you’re under 45….and PS they ain’t that popular, maybe in your world”

Over 75% BC NDP platform has been enacted in their first year

http://www.cbc.ca/news/canada/british-columbia/bc-government-ndp-promise-tracker-1.4669968

John Horgan approval

http://vancouversun.com/news/local-news/b-c-ndp-premier-john-horgan-shares-highest-approval-rating-in-canada-with-sask-premier-scott-moe

Voters are very slow to admit they made a mistake. – Garth

#95 I’m stupid on 05.24.18 at 9:32 pm

1989 Toronto housing bubble burst
1990 NDP Bob Rae elected Premier of Ontario

2017 Toronto housing bubble burst
2018 NDP Horwath gets elected Premier of Ontario?

History always repeats itself… let the entire thing come burning to the ground. Time to move on I think!

#96 ImGonnaBeSick on 05.24.18 at 9:33 pm

Take the 28 mins and watch the TVO Political Blind Date with Doug Ford in it. https://tvo.org/video/documentaries/political-blind-date/ep-2-transit. Watch Doug specifically, how he interacts with everyone, if he’s not one of the most down to earth, reasonable people you’ve seen, he’s one hell of a good actor. He’d be a premier you’d love to have a beer with. He doesn’t come off as a pretentious prick like the other two. Who feel they are so much smarter than the average Ontarian, that they know how to best handle our money. Remember, a thug is the person that assualts, calls you names (bully, nazi, mysogonist, etc.) and takes your money. A hero is the person that goes after that person and gets your money back. Ask yourself, who you think Doug is.

I’m not from Toronto, can’t stand the place except for the hockey team. I didn’t know much about Doug before he was elected leader of the party, but I’ve since watched and listened to everything he’s said.

He’s exactly what Ontario needs right now. There’s no way NDP is taking this away from the PCs. Ontarians are booting the current socialists out, not to be replaced with the even crazier socialists. We’re sick of deficits, we’re sick of waste, we’re sick of carbon taxes. Province is going blue, and we’ll all be better off for it.

#97 Screwed Canadian Millenial on 05.24.18 at 9:40 pm

What the heck did I say wrong now?

If you continue to post like that, back into the dungeon with the rats. The big orange ones. – Garth

#98 Reynolds531 on 05.24.18 at 9:42 pm

That’s not a photo of a dog! That’s a FOX!

#99 Marcus on 05.24.18 at 9:45 pm

Canadians would be very wise to learn all they can about the onset of The Grand Solar Minimum. Major weather changes have started over the past 2 years and will gradually worsen leading to 2030. Fall will be earlier, spring will be later and crops will have very low protein content due to short growing seasons. Embrace that flaming ball in the sky. It drives all weather on Earth. Something our ancestors knew all too well.

#100 Ex-Cowtown on 05.24.18 at 9:48 pm

#64 AK on 05.24.18 at 8:07 pm
“Trump punts Kim and tells the US military to “prepare.” Stocks sell off, bonds gain, yields fall as the Korean love-in fizzles.
====================================
North Korea responded a couple of hours ago, saying that they are willing to meet with President Trump any time.
The President knows how to deal with these nut bars…

In other words, Trump blew it? – Garth

+++++++++++++++++++++++++++++++++++

Sorry, but the only people who think Trump blew it haven’t figured out that it’s more than a one act play. The Viet Nam Peace talks hung up at one point over the shape of the negotiating table.

Trump is a master persuader and negotiator. To those not familiar with the concepts, the process looks like noise and confusion, just like a computer motherboard looks like a tangled mass of bits and pieces to a non-engineer.

Patience, Grasshopper!

#101 For those about to flop... on 05.24.18 at 9:50 pm

One more point if I may.

I went from owning a three bedroom house full of stuff,to living out of a backpack ,traveling the world for the next four years.

Guess which period of my life I look back on with more fondness…

M43BC

#102 ShawnG in TO on 05.24.18 at 9:52 pm

i’m outraged that orange party may win. i’ll move to the states if they take power. i swear i’ll move hollywood style.

#103 Ian on 05.24.18 at 9:59 pm

#97 SCM

Garth, please vote this clown and the 2013 clown Mark off the island.

As Andrew Scheer would have said when he was speaker, ‘I think you’ll find the House agrees.’

#104 Political Scene on 05.24.18 at 10:01 pm

The political scene in Ontario has become a staged performance because they are all actors. They are not fighting for the common good, but for power. The con is all about spewing what you want to hear with promises that will never be fulfilled. Its that simple and you fall for it all the time.

#105 akashic record on 05.24.18 at 10:16 pm

#97 Screwed Canadian Millenial on 05.24.18 at 9:40 pm

What the heck did I say wrong now?

If you continue to post like that, back into the dungeon with the rats. The big orange ones. – Garth

And you wonder why millennials vote NDP.
What’s up with that pre-1865 attitude?

#106 Lg on 05.24.18 at 10:16 pm

Prices for SFD have not dropped in Pickering!

#107 ScrewedinBC on 05.24.18 at 10:19 pm

From BC, born and raised. 50 yrs.

Happy as a clam the NDP, stole the election from the crooked Liberals. I never voted for them before either.

Vote NDP, it’s not so bad, at least there getting shite done.
And not pretending that there working for you.

#108 Shawn Allen on 05.24.18 at 10:20 pm

Government Employees Contribute Nothing?

#73 saskatoon on 05.24.18 at 8:25 pm said:
seriously, what does anyone expect when government itself is the largest employer in canada?

x 2 fold.

government employees contribute nothing to the cost of running government itself…they only take.

***************************************
So help me understand. The private sector pays all costs of government by paying taxes in “fiat” fake money mostly created from thin air by fractional reserve banking?

The actual goods and services (law and order, healthcare, education, armed forces and social programs and many other things) provided and created by the physical and mental efforts of government workers contributes exactly nothing? Have I got that right?

Here I used to think that anyone working to help provide any kind of goods and/or service valued in the economy, was a contributing member of society no matter if they were in the government or private sector. Well, I guess I stand corrected?

#109 toronto1 on 05.24.18 at 10:21 pm

#56 Dolce Vita

totally agree

well see later on this month when all of the banks report their earnings but CIBC reporting a 50 % drop off in origination’s is huge.

Banks are usually very close withing their mortgage numbers so i think we will see 35-40% declines across the board.

the biggest RE market in Canada is the GTA so that were most of those losses come from. Mark or the real Mark would probely know better but i recall a podcast from a few months ago where Ross Kay mentioned that his firm had foretasted the drop in Vancouver by looking at a few metrics one of them being mortgage origination’s

RE price is a function of available credit- as the credit contracts so does the price, simple math

the decline in mortgage origination, as well as sales as well as new home sales is foreshadowing some big drops yet to come.

RE price drops will be within 2-3% of the mean origination percentage so if all 5 big banks report a mean of 40% decline in origination- thats equal to the % of price drop that is yet to come.

just like a pendulum swings, it has to equal the velocity and rate of each swing so the momentum on the upswing will be equaled on the downturn before its becomes stable

#110 BCWally on 05.24.18 at 10:26 pm

Hi Ontario. Look, we have learned something out west here that we should share with you. If you do vote for the dippers watch out for massive fires. If you are in northern Ontario trim the bush away from your house.
Don’t believe me?
Alberta Ft.Mac just after election, in BC interior fires that took out multiple homes and a huge amount of the allowable sawmill cut again just after election.
Granted it’s not their fault but maybe Ryan or Doug can give us the odds on that happening, like an investment risk assessment, and share that with the Ontario voters.
Go liquid and hide? See you guys in the fall.

#111 Dead Cat Bounce on 05.24.18 at 10:31 pm

#99 Marcus on 05.24.18 at 9:45 pm
Canadians would be very wise to learn all they can about the onset of The Grand Solar Minimum. Major weather changes have started over the past 2 years and will gradually worsen leading to 2030. Fall will be earlier, spring will be later and crops will have very low protein content due to short growing seasons. Embrace that flaming ball in the sky. It drives all weather on Earth. Something our ancestors knew all too well.
——————————————————————
and move to higher ground ! just sayin’

#112 Win not lose on 05.24.18 at 10:35 pm

Remember the new mantra: get liquid, and live quietly among the masses.
……………………

Go after the communion wine and hide in the church.

#113 Ben Dover on 05.24.18 at 10:35 pm

#48 Tony on 05.24.18 at 7:47 pm
I won’t be voting at all. I would have voted for Ford until he came up with the line about removing the foreigners tax on housing. This would drive home prices in the GTA higher than in Vancouver and hobble the entire country and drive the Canadian dollar down to 50 cents.
*****************************************

Dude..every vote counts.

#114 Trojan House on 05.24.18 at 10:36 pm

Think about this: Calculate how much property taxes you pay over the time you own your home. Be sure to add in increases every year (in my municipality it is about 2% per year). Now subtract that from your equity.

You’re not as rich as you think.

#115 IHCTD9 on 05.24.18 at 10:36 pm

#74 Be Realistic on 05.24.18 at 8:30 pm
Here is the future population growth projection from the Ontario government:

– Ontario’s population is projected to grow by 30.3 per cent, or more than 4.2 million, over the next 25 years, from an estimated 14.0 million on July 1, 2016 to more than 18.2 million by July 1, 2041.

– The Greater Toronto Area (GTA) is projected to be the fastest growing region of the province, with its population increasing by almost 2.9 million, or 42.3 per cent, to reach
9.6 million by 2041. The GTA’s share of provincial population is projected to rise from 48.3 per cent in 2016 to 52.7 per cent in 2041.

Yeah, so those people need to live somewhere. People are living longer, seniors refuse to budge their home of memories, and 700,000 millenials want a suburband home with a two car garage and big backyard.

Supply and demand. Apple may buy back shares, but Mother Earth isn’t making more land.

I don’t understand how all of you RE gloomers can pretend none of the above exists.

Source: https://www.fin.gov.on.ca/en/economy/demographics/projections/
——————————

Or, the new folks show up in the GTA and see that houses cost 1.3 million, realize the job market is totally saturated, wages have barely moved in a decade, and then on top of all that – half their crappy income ends up in the government’s pocket…

…so they leave.

“40 per cent of immigrants who entered Canada in the skilled worker or business class left Canada within their first 10 years.”

“A previous study by Statistics Canada indicated that one-third of male immigrants (aged 25 to 45 at the time of landing) left Canada within 20 years after arrival. More than half of those who left did so within the first year of arrival.”

http://www.hireimmigrants.ca/resources-tools/news/why-some-immigrants-leave-canada/

The studies quoted are old, current opportunities in Canada are way worse now than they were back then. You can bet your ass that high end economic class immigrants desiring to set up shop somewhere and grow roots are finding much better options elsewhere these days.

#116 Bobby on 05.24.18 at 10:43 pm

Only an idiot would vote for the NDP. Just look at the mess that is unfolding here in BC. And that is after less than one year in office. Imagine the mess they will create if they remain in office for a few more years. There is a reason the NDP were left with only two seats the last time they held power in BC. They couldn’t run a hot dog stand.
Millennials are supporting these clowns because they believe the nonsense that everything is free. They are entitled and should be handed everything, no one should have to work for it. Imagine, having to evict your son. The greatest generation went off and won wars, then returned to build their country. This group can’t even get out of bed.
There is a reason good, well paying jobs are scarce in Canada. Business investment is bailing and moving south to a more business friendly environment. Governments don’t create jobs, business does.
Perhaps the millennials are getting what they deserve?

#117 The Real Mark (not the imposter) on 05.24.18 at 10:44 pm

“the biggest RE market in Canada is the GTA so that were most of those losses come from. Mark or the real Mark would probely know better but i recall a podcast from a few months ago where “

I wrote a few comments about the claim of CIBC’s management yesterday (which you can refer to). In a nutshell, it was my belief that CIBC’s management was implying that a large number of their existing mortgage customers, and that of other mortgage lenders are in such dire straights credit-wise that the only choice they have is to sign the renewal letter at the posted rate when it arrives. Rather than shopping around for a “new” mortgage.

Merely signing a mortgage renewal letter does not count as a ‘mortgage origination’. Moving a mortgage to a new lender to get a better rate, or taking a new mortgage is clearly a “new origination”.

Of course, quite in contrast with the case with discounted rates, a mortgage renewal at the posted rate implies paying a *lot* of interest, but doesn’t imply much if any additional payment into equity. So the bank’s mortgage books won’t run off much, if at all. But the interest derived from the books will increase substantially. The enormous profit increases we saw of the Canadian banks, yesterday CM, today TD and RY, next week BNS and BMO, are just a sign of things to come. Due to the deflationary pressure that these increasingly handcuffed and unable to borrow to consume consumers will impose upon the economy, as well as the broader deflationary impact of reduced construction spending, the Bank of Canada will further protect the banks and their profits by keeping policy rates low.

#118 IHCTD9 on 05.24.18 at 10:46 pm

#108 Shawn Allen on 05.24.18 at 10:20 pm
Government Employees Contribute Nothing?

#73 saskatoon on 05.24.18 at 8:25 pm said:
seriously, what does anyone expect when government itself is the largest employer in canada?

x 2 fold.

government employees contribute nothing to the cost of running government itself…they only take.

***************************************
So help me understand. The private sector pays all costs of government by paying taxes in “fiat” fake money mostly created from thin air by fractional reserve banking?

The actual goods and services (law and order, healthcare, education, armed forces and social programs and many other things) provided and created by the physical and mental efforts of government workers contributes exactly nothing? Have I got that right?

Here I used to think that anyone working to help provide any kind of goods and/or service valued in the economy, was a contributing member of society no matter if they were in the government or private sector. Well, I guess I stand corrected?
———————

The cost Man… The COST.

He said they don’t contribute anything to the COST of running the government.

Government does supply the environment where business can flourish (except in Canada where they do the opposite).

#119 Lee on 05.24.18 at 10:49 pm

Polls in Canada lean left. NDP would need about a three percent lead in polls to really be first. Why would a balanced portfolio survive the NDP in any event?

#120 Karma on 05.24.18 at 10:51 pm

Ford still likely to win a majority according to CBC’s Poll Tracker: 84% chance of winning.

https://newsinteractives.cbc.ca/onvotes/poll-tracker/

#121 Karma on 05.24.18 at 10:53 pm

#59 Newcomer on 05.24.18 at 8:00 pm
“#23 -80% YVR Bear on 05.24.18 at 6:37 pm
Hi Everyone,

While we’re on the topic of politics, who should I vote for in Van in the next civic elections if I want a RE collapse? OneCity? COPE? ProVancouver? Green?

——

Most definitely, the Greens. They have the most aggressive platform and they are pro-business and anti-corruption, which both translate to market pricing.”

Umm, wrong level of government.

#122 Tactless on 05.24.18 at 11:10 pm

A couple of observations:
-Pitbull and Stallone giving real estate advice is clearly the top of the housing market if not just after the bull trap and before fear, capitulation and despair
-millenials are trapped in their parent’s basement looking for full time jobs and paying off their student loans (5 yr. min. committment if they did a Masters) so they won’t be charging in anytime soon to save the housing market
-millenials have no interest in owning, only in experiencing and travelling the world something their parents never did at that age *check out those facebook and instagram posts
-millenials aren’t committing to long-term relationships so buying power will continue to be delayed until they take the plunge
-most renters are your 33-38 year olds and they may trickle into the market, but anecdotally peers (cream of the crop) are not interested in the GTA, making their way out East or Northern Ontario to avoid becoming debt zombies
-the feminist movement have pushed high income earners to delay having children therefore there’s little to no pressure to commit to a home

So where’s the demand everyone is waiting for?

#123 april on 05.24.18 at 11:16 pm

According to people like Hilliard Macbeth, the older condos are not selling well anymore. Steve Saretsky, a Vancouver realtor, say condos have “topped out”. Ross Kay says wait for a few more months, 6/12 months, before thinking about buying a condo. Besides Garth, there are more, mostly not in the real estate business who are warning of the downturn which we’re into already.

#124 Myra Andrews on 05.24.18 at 11:18 pm

Greater Vancouver Stats from realtor Paul Boenisch

May 24 New 231 Sold 128 TI: 11,676
May 23 New 328 Sold 144 TI: 11,613
May 22 New 477 Sold 143 TI: 11,496

May 18 New 226 Sold 119 TI 11,208
May 17 New 191 Sold 110 TI 11,161
May 16 New 235 Sold 147 TI 11,133
May 15 New 315 Sold 178 TI 11,127
May 14 New 302 Sold 124 TI 11,052

May 11 New 183 Sold 132 TI 10,935
May 10 New 229 Sold 126 TI 10,957
May 9 New 309 Sold 172 TI 10,914
May 8 New 318 Sold 117 TI 10,835
May 7 New 389 Sold 131 TI 10,697

May 4 New 191 Sold 110 TI 10,540
May 3 New 213 Sold 103 TI 10,503
May 2 New 268 Sold 146 TI 10,481
May 1 New 363 Sold 134 TI 10,420
Apr 30 New 375 Sold 163 TI 10,459

April 16-27 New 2453 Sold 1224 TI 10,347
April 3-13 New 2111 Sold 916 TI 9,727

Mar 19-29 New 1834 Sold 1072 TI 9,032
Mar 5-16 New 2248 Sold 1224 TI 8,743

The inventory at the end of February was 8,211

#125 IHCTD9 on 05.24.18 at 11:19 pm

conan on 05.24.18 at 9:08 pm
In other words, Trump blew it? – Garth

That recent North and South Korean Leaders meeting was ice breaking. Trump should have left them alone, not claim a slice of the Nobel Peace Prize.

Trump allowing Bolton talk about a Libyan solution to the Korean problem. Hello? You just lost the deal there in an obvious and “stupid” way, which is bad…

IMHO, Kim wants to hold on to his weapons, stay in power, and be immune from the World Courts.

Not many ways to solve this problem:

A) Allow the North and South to figure this out for themselves.

B) A one hundred year deal. N korea would have that time; to hide its crimes, educate its people, modernize its economy, and get rid of the Kim Dynasty.

Trump waving the nukes is NOT the way to be right now. Nor, is contemplating any kind of land assault. The whole country is a fortified bunker backed up by nuclear weapons.

I am on the “He blew it side.”

———————-

Trump had a golden opportunity to push the momentum, and maybe go down in history – in part – as a hero in the minds of millions of North Koreans. So he did blow a rare, probably once in a lifetime chance to essentially free a nation.

Down the road from me is a “corner store” the previous owners were Korean, the husband “Sam” was a North Korean escapee. These were damn solid people, I live in redneck Central; and he knew us all by name even though he barely spoke any English. Sam always had his Korean Bible sitting open on the counter when you walked in. When Sam and Sue decided to pack it in and move to the GTA, the single competing corner store 30 seconds down the road put a big jar on the counter where their customers could stuff some cash as a good bye gift to them.

The new owner “Kevin” is the same (also Korean). Outstanding people. Not to sound too overbearing, but I’ve never met a Korean immigrant I didn’t like, North or South. If you filled Canada up with families like Sam’s and Kevin’s, our GDP would double overnight.

Trump could have been to North Koreans, something like the Canadian Army was to the Dutch circa 1945 – and then had all the benefits of the extremely happy, and patriotic immigrants that would have surely followed.

#126 not so liquid in calgary on 05.24.18 at 11:30 pm

@ Marcus on 05.24.18 at 9:45 pm
” crops will have very low protein content due to short growing seasons. ”

————————————————————————————

I call bull on your above statement. Have a look :

www1.agric.gov.ab.ca/$department/deptdocs.nsf/all/agdex95

#127 fishman on 05.24.18 at 11:37 pm

#109 toronto1; mortgage originations,good one. Out here, that started a couple years ago on the street. The subprime lending practitioners started not renewing. They still have some quality 2nds but nowhere near the scramble a few years back. Way down on putting cash out there now. Pretty quiet. What are they doing with their piles of liquidity? I don’t know. Probably like me; sitting on it & waiting for something to happen.

#128 LP on 05.24.18 at 11:42 pm

#90 For those about to flop… on 05.24.18 at 9:09 pm

Then my dad got cancer.

Now he is fighting for his life.

Not all stories have happy endings…

M43BC
*******************************

I’m rooting for your Dad, Flop.

F70+ON

#129 LP on 05.24.18 at 11:46 pm

#90 Flop, for short

I’ll be rooting for your Dad!

F70+ON

#130 Noware on 05.25.18 at 12:19 am

I find it curious you think the NDP are so horrible yet aren’t the Liberals and Conservatives the parties that brought the housing crisis to Ontario? The NDP hasn’t been in power since the mid 90’s in Ontario and have never once governed federally, yet they’re the ones we should be wary of? Why should voters blame them for the insane cost of living Canadians are faced with? Wages have remained virtually stagnant since the 1980’s. There are only two parties to blame for that.

#131 Smoking Man on 05.25.18 at 12:46 am

My moral delema.

Nothing would work out better for me than an NDP govt in Ontario.. The speed and destruction to all asset classes would be epic… I will come back in a few years and buy the Eaton centre for pennys on the dollar.

I have family back home… Don’t want to see them get hurt. That’s why my emotional feeling is for Ford…

Logic from a capitalist vulcher wants an NDP govt. George Soros is a great teacher.

Every millennial apart from MF were inpregdinated with I
hate success. Ride a bike and live in 500 sq ft. The earth will love you..

Idiots are going to make me more money.

Thank you teachers.

#132 Lorne on 05.25.18 at 12:50 am

“Where have the Orange gang delivered on over 75% of their promises? Costing us Millions in attempting to hang onto power before waiting in the wings for another 17 years…..get real.”
“Fake news and fake quotes, bet you’re under 45….and PS they ain’t that popular, maybe in your world”

Over 75% BC NDP platform has been enacted in their first year

http://www.cbc.ca/news/canada/british-columbia/bc-government-ndp-promise-tracker-1.4669968

John Horgan approval

http://vancouversun.com/news/local-news/b-c-ndp-premier-john-horgan-shares-highest-approval-rating-in-canada-with-sask-premier-scott-moe
……….

Voters are very slow to admit they made a mistake. – Garth
………
Is it even within the realm of possibility that they didn’t make a mistake?

#133 DON on 05.25.18 at 1:12 am

#194 crowdedelevatorfartz on 05.23.18 at 8:26 am
@#143 Don
“Jas Johal is that you…former global bc media repeater turned BC Liberal MLA?”
+++++

Ahahahahahaha
Good one Don.

Jas Johal. Former BC Glow-ball reporter that quit his job as a media lickspittle to work full time for the Oil and gas industry doing “infomercials”
And when that became tedious he was led into politics by the same cash cartel.
Spewing whatever political propaganda was shoved into his grasping claws for the good of the Christy Clark party.
I think he was one of many “reporters” in the Global pig pen that snuffled up to the trough.
Pamela Martin and several others come to mind.
Apparently local CBC reporters were either too ugly, too left leaning or too lazy ( or all three) to bother applying at the political money trough.
***********************

CBC News Repeaters…

There is former CBC’s Legislative reporter Stephen Smart’s wife who was Christy Clarks program manager while she was planted in the CKNW radio rant job (prior to her becoming Premier). She escaped the government and went into hiding at a radio station. Something to do with a “BC Rail Corruption???”

Then her master’s brought her back to puppet her as Premier when Campbell resigned due to lying about the HST. We know the rest of the story.

I could go on.

#134 DON on 05.25.18 at 1:24 am

#101 For those about to flop… on 05.24.18 at 9:50 pm
One more point if I may.

I went from owning a three bedroom house full of stuff,to living out of a backpack ,traveling the world for the next four years.

Guess which period of my life I look back on with more fondness…

M43BC
***************

In your travels did you ever make it to Balmer’s Hostel in Interlaken or the cold water hostel on the side of the mountain in Murren (SP?) or the Pink Palace on the island of Corfu Greece? My fondest memories from the distant past.

As for your critics on this blog…F’em. Keep on flopping.

#135 DON on 05.25.18 at 1:32 am

#116 Bobby on 05.24.18 at 10:43 pm
Only an idiot would vote for the NDP. Just look at the mess that is unfolding here in BC. And that is after less than one year in office. Imagine the mess they will create if they remain in office for a few more years. There is a reason the NDP were left with only two seats the last time they held power in BC. They couldn’t run a hot dog stand.
Millennials are supporting these clowns because they believe the nonsense that everything is free. They are entitled and should be handed everything, no one should have to work for it. Imagine, having to evict your son. The greatest generation went off and won wars, then returned to build their country. This group can’t even get out of bed.
There is a reason good, well paying jobs are scarce in Canada. Business investment is bailing and moving south to a more business friendly environment. Governments don’t create jobs, business does.
Perhaps the millennials are getting what they deserve?
*****************

What about the 16 year train wreck that made voters swing the other way…Is that you Christy Clark?

Yikes…cognitive dissonance meets head in the sand mentality. Have you no shame. Oh I forgot that was you Chrissy.

Christy Clark is that you.

#136 DON on 05.25.18 at 1:39 am

#95 I’m stupid on 05.24.18 at 9:32 pm
1989 Toronto housing bubble burst
1990 NDP Bob Rae elected Premier of Ontario

2017 Toronto housing bubble burst
2018 NDP Horwath gets elected Premier of Ontario?

History always repeats itself… let the entire thing come burning to the ground. Time to move on I think!
&&&&&&&&&&&&&&

Good observation.

In each of the cases above the cons/libs/social credit (BC) parties of the day, ran the economy into the ground and forced voters to swing. Just so happened in each case the bubble bursts and the economy went/is going into the dumpster. And someone else is left to deal with the mess the jackasses before them created.

The cycle of corruption. Do you remember the 80’s or the last 15 years in BC, Ontario and Alberta. Shit show (supposed to be fiscal managers). In both cases the housing market was created – rinse and repeat.

#137 Deplorable dude on 05.25.18 at 2:02 am

Trump blew it….?

You folks have no idea about the political dynamics in play……it’s all art of the deal….

NK answers to China. Period.

When you understand that everything makes sense.

This isn’t about US vs NK….this is US vs China.

China is currently getting screwed by the US in trade negotiations over massive Steel/Al tariffs. China uses NK as leverage. Trump negates that 10 fold by raising the possibility of ‘Section 232’ trade tariffs, targeting auto imports. China folds…tells NK to get back n the talks…

https://theconservativetreehouse.com/2018/05/24/chairman-xi-jinping-responds-north-korea-says-it-is-still-willing-to-talk-with-us-at-any-time-and-in-any-format/

#138 Millenial CTO on 05.25.18 at 2:02 am

“Millennials are supporting these clowns because they believe the nonsense that everything is free. They are entitled and should be handed everything, no one should have to work for it.”

Been reading this blog for years. Here to refute the idea every millennial is a lazy entitled individual.

I’ve been cultivating technical skills relevant to my current job and profession since I was ten. Graduated top of my class, at a top university, in a program with the highest entrance averages. My ten year career has been entirely in product development where tech I’ve patented has generated 8 figure sales. Currently save and invest 30% of my gross income. The possibility of owning a commensurate home has slipped further and further from reach however. None of my peers that range from 100-200k personal income are planning to buy real estate. I think something is wrong with this picture. I abhor our governments largesse, vote buying, mismanagement, etc.

I’ve noticed most people think they’ve had it the hardest, and feel entitled to something. Better ascribe that to human nature than a millennial specific trait.

PS. Open minded about supposed places that better suit warm blooded, skilled and hard working entrepreneurs. Sometimes I am afraid Canada is moving backward and I’d rather not spend my prime years trying to climb out of the so called crab bucket. Growing socialism and lack of opportunity will neuter even the most ambitious individual.

#139 Clearwater on 05.25.18 at 2:10 am

@#3 Utabe

Remenber that the majority of prople are stupid and or ignorant. Think of voters like wresteling fans. Asume they are idiotis and act accordingly….

#140 dgb on 05.25.18 at 2:45 am

vote ndp !!! who in their right mind would do this after watching the ndp in bc and alberta fighting over every thing big and little…how would anything get acoomplished in a federal setting with a bunch of ndp opposing views??? it would be a waste of 4 years in government and many more people would be pensioned off on our dime !!!! no thanks…even doug ford looks better than this and I can’t stand him but he would surely have a lot of help…libs have to go for the greater good of our country!!!business is leaving and we will be left to die an indepted death if their policies continue…vote people but make yourselves aware of policies first

#141 Proof ? on 05.25.18 at 4:18 am

to # 57 Suburban Bob

Go ahead, vote for the NDP because you don’t like Ford’s personality.
Your neighbour should too.

That way you’ll have company crying over your beer right next door because the NDP taxes are gonna make you cry!
And the debt will limit your childrens’ choices, not expand them.

Look at he NDP platform and remember that YOU will be paying for it all !

#142 Proof ? on 05.25.18 at 4:27 am

to # 57 Suburban Bob

“Strange times coming…”

Guaranteed if you vote the NDP in.

Have kids ?
If you do, consider the debts they will inherit and how their choices in life will be restricted , not expanded as new NDP debt swallows the province and their futures.

And for you ?
The “sanctuary province” will let ANYONE access FREE medical care .
Horvath is already promising “better housing” for illegal immigrants.
That is an open invitation extended that you will be footing the bill for.

Have you even read their platform and budget ?

Do so and get back to us on how you plan to maintain your lifestyle.

#143 Conn Smythe on 05.25.18 at 5:15 am

#115 IHCTD9

“Or, the new folks show up in the GTA and see that houses cost 1.3 million, realize the job market is totally saturated, wages have barely moved in a decade, and then on top of all that – half their crappy income ends up in the government’s pocket…”

Or the new folks show up with loads of cash like many of the students at my school. Many of their parents buy them condos to live in. One former student is 21 and by to visit me recently. His parents bought him a home in Mississauga so he could live in it while attending U of T. He asked me to come out to the parking lot to see his new car. A Lamborghini… You have to realize that some of them come from cities that make Toronto real estate look cheap.

#144 Stan Brooks on 05.25.18 at 5:23 am

#196 Conn Smythe on 05.24.18 at 4:32 pm
#184 Stan the deranged lunatic Brooks

“So I wish you get cancer and get treated at Princess Margaret Hospital for it.”

How very nice of you Stanley. Great for all to see what a total a$$hole you really are. I had an immediate family member treated at Princess Margaret and they were world class and all ended well. No need to go to the States. You are truly a piece of garbage. I am lowering myself engaging in dialogue with a scum bag like you Stanley.

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

Coming from a realtor I accept this as a complement.

You bragged about the cancer treatment there, I know it sucks, but hey, you seemed convinced, why not try it?

Few years of pesticides diet at major retail store chain + some work related stress (it is not easy these days to be a realtor), and there you have it.

Then you can come to me for advice.

#145 Stan Brooks on 05.25.18 at 5:34 am

#115 IHCTD9 on 05.24.18 at 10:36 pm

I understand them/the immigrants leaving.

Why would they stay? Not everyone is idiot on this world, supply is limited to internal stock.

Houses at 1.3 mil/30 years to pay

50 % income taxes and increasing, government needs revenue

ever increasing property taxes

miserable job market with low wages and huge competition (of the suckers)

no retirement

miserable health care (despite the Conn (Woman) Smythe lies here)

complete lack of transparency in everything

set of hungry oligopolies

non retirement

ultra expensive cost of living.

zero lifestyle

non retirement

lack of jobs for the young

non retirement

miserable weather

non retirement

#146 Stan Brooks on 05.25.18 at 5:48 am

#117 The Real Mark (not the imposter) on 05.24.18 at 10:44

You are describing the coming depression with over-indebted Canadians not able to consume.

But it will be inflationary, not deflationary.

Only a very intellectually limited person will believe that a weak local currency managed by incompetents who are afraid of raising rates and lack the honesty and integrity to do the right thing will be stronger than other stable world reserve currencies that are aggressively increasing rates.

There is no economy left here boy and capital flows out from this place.

Why there are no investors for the western pipeline so the ‘star financial minister’ has to raid the pensions funds to pay for it?

Keep in mind, our oil/tar-sands is heavy and dirty and most likely will decline in price while, light crude oil (this is what we are importing) increases in price.
Get ready for 2 bucks gas per litter very very soon.

So where the demand for CAD (with zero rates and 8-10 % real inflation) will come from? Indebted borrowers/marginalized economic subjects with no ability and skills to produce competitive products for the international markets?

#147 MF on 05.25.18 at 6:56 am

#115 IHCTD9 on 05.24.18 at 10:36 pm

Gonna have to disagree.

Anecdotally, my whole life I have been working with tons of recent and not so recent immigrants to Canada, and no one has left.

Most own houses in Brampton, Mississauga or Scarborough and have Canadian born kids in University.

#145 Stan Brooks on 05.25.18 at 5:34 am

Complete BS.

Serious question: do you speak to any human beings outside in the real world?

Take any place/country and the world, and you can come up with a list of negatives.

MF

#148 Conn Smythe on 05.25.18 at 7:29 am

#144 Stan the Man Brooks

“Coming from a realtor I accept this as a complement.
You bragged about the cancer treatment there, I know it sucks, but hey, you seemed convinced, why not try it?
Few years of pesticides diet at major retail store chain + some work related stress (it is not easy these days to be a realtor), and there you have it. Then you can come to me for advice.”

I have to seriously question my own sanity replying to a mindless moron like you Stanley. I am not a realtor you loser, I have stated that several times but you are lacking in the comprehension department. Further, I have a real life experience at Princess Margaret with an immediate family member. This same family member got in touch with several dozen individuals States side (via social networking)who had the same type of cancer. They couldn’t believe that my family member was getting treated with no out of pocket expenses. Even the ones who had insurance in the US of A had to cough up lots of money to pay for their treatments. I won’t even go to the ones who don’t have insurance… God help them. The number one cause of bankruptcy in the good ol US of A is medically related expenses you mindless moron. Pack your bags and get your deranged self out of Canada. You won’t be missed loser.

https://www.thebalance.com/medical-bankruptcy-statistics-4154729

#149 Conn Smythe on 05.25.18 at 7:34 am

#115 IHCTD9

“You can bet your ass that high end economic class immigrants desiring to set up shop somewhere and grow roots are finding much better options elsewhere these days.”

The good folks at my school didn’t get the memo I guess. 20 nations and growing. I have seen exponential growth in the last decade. Good portion of the student’s parents are business people. Many don’t trust their governments and want to make sure they have capital outside their nations. As Sir Winston said, “democracy is the worst form of government, except for all the others…”

#150 Conn Smythe on 05.25.18 at 7:49 am

#30 The Dood

“Everyone listen up ……. all is rosy in the GTA! Supply is tight and demand is ongoing. Go ahead and buy, Mr. Smythe says its all good to go! Debt be damned!”

On the contrary I said no such thing. The GTA has become very expensive and I sympathize with those starting out and trying to buy property. Funny that you would equate my statement that there will not be a major real estate crash in Toronto with an advocacy to load up on debt… Non sequiturs seem to be your forte.

#151 dharma bum on 05.25.18 at 7:55 am

Re: #62 the Jaguar

” I love all things Italian by the way, so don’t write me.”
——————————————————————–

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

#152 Ezzy on 05.25.18 at 8:15 am

Garth, let’s not worry too much, this is looking quite like the late 80’s into the early 90’s. These were the days just before Bob Rae was elected. And we all know what happened after Bob Rae and the NDP were booted from office; Mike Harris.

#153 Ezzy on 05.25.18 at 8:22 am

#9 Bibi

I’m not religious by any stretch but the big three Western religions do have a bunch of guidelines that are universally applicable, such as, in your case:

“He that is without sin among you, let him cast the first stone . . .”

What you said reminds me strongly of the typical, entitled, young multi-generational Canadian; you don’t realise you’re living in a glass house because you’ve had no reason to.

No I’m not an old fart, I’m 36.

#154 Gravy Train on 05.25.18 at 8:22 am

You have just harassed this blog. Pay up. – Garth

Not Morgan Freeman, too! Say it isn’t so, Garth!

#155 Ace Goodheart on 05.25.18 at 8:24 am

One thing is certain and that’s you don’t want to be in rental housing in Ontario if the NDP get in.

“Housing is a basic human right”. “Why should landlords be able to set the price at which they’re willing to rent their units?”

Duh? Because they own the building?

My privately held building is not some one else’s human right.

Unbelievable

#156 crowdedelevatorfartz on 05.25.18 at 8:25 am

@#97 Screeching Canadian Millenial
“What the heck did I say wrong now?”
+++++
Everything? 24/7.
The blaming, the whinging, “its all the Boomers fault! Waaaaaa”

Yawn.

#157 Exilled on 05.25.18 at 8:34 am

Sir Garth;

http://www.rt.com/news/427723-canada-mississauga-explosion-injuries

We are not immune! It will and is happening here!!

#158 crowdedelevatorfartz on 05.25.18 at 8:38 am

@#54 Ex Cowtown
“The only reason BC is such a great place to live (for the next few moments) is because other people in Canada and around the world do dirty jobs to support BC’s lifestyle. ”
+++++
Speaking of “free rides”

Just curious.
Are you driving one of those pickup trucks I’m seeing all over the Lower Mainland construction jobsites with Alberta plates?
Working and living in BC but not paying the exorbitant BC Govt car insurance because its much cheaper to illegally drive around BC with your old Alberta license and plates?
I believe the Law is 2 weeks to swap everything over.
There’s several cars in my building that have been here for over a year with Alberta plates.
I actually saw two guys yesterday on a jobsite in Victoria with Saskatchewan plates on their work truck full of tools.

Or , if you get in a car accident, you’re just a tourist…..?

Good luck ‘splainin’ that to your insurance co.
OR.
Enjoy visiting the relatives in Alberta with your shiny new BC plates.
No one in BC cares about Alberta shutting off the gas/oil. Or the unbelievable amount of Albertan cars driving around the Lower Mainland looking for work.

But good luck going back to Unemployment Alberta with BC Plates

#159 Tater on 05.25.18 at 8:51 am

#20 Ian on 05.24.18 at 6:30 pm
I agree the PC campaign is in tatters but it’s a ‘should have been 90+ seats’ v ‘mid 70s more likely’.

The provincial standard is a disaster. My home riding of Etobicoke Centre hit the news again as Ford’s candidate wasn’t nominated so honestly.

Had a chat with an ex MP friend today and he agrees the provincial scene is a haunted house at Niagara Falls. Said he would never, ever get involved at that level. Really, really bad.

Anyway I don’t see a 1990 repeating. Sure hope I’m right.

It’s time to really hammer the NDP on all their free shit unicorn thinking. I mean really hammer them.

M49ON – Ultra, er, Blues
—————————————————————–

Just wait until the reason Ford was pushing that candidate comes out.

#160 Peter W on 05.25.18 at 8:52 am

“This is no longer an election about policy choices or economic vision, but simply a way for voters to punish the existing Liberal government by selecting the least-worst alternative. A carbon copy of what happened in BC – so if Ontarians want a glimpse into the future, look there. Carbon taxes. Higher income taxes. Stiffer business taxes. Speculation taxes. Luxury taxes. And inevitably, a wealth tax based on real estate.”

Bang on with that.

As an Ontario resident, I’m terrified.

It’s a shame there are so many clueless voters out there. Electing NDP over PC at this moment in Ontario’s history. There almost couldn’t be a worse time, or worse choice.

But as my fellow Ontarians have shown time and time again, they really ain’t that smart.

#161 Conn Smythe on 05.25.18 at 8:55 am

#150 Be Realistic

“If you don’t want to own a home, that’s fine. But don’t come on here crossing your fingers for crashes and exuding such obvious resentment. No wonder the NDP has a shot.”

Well put and I share your sentiments. The crash hopefuls seem to think economic laws will be inverted to achieve their desired aims…

#162 Conn Smythe on 05.25.18 at 8:58 am

#150 Be Realistic

To add weight to your argument, here is Benjamin Tal saying the same thing. I know the crash hopefuls will lash out and say he is a low life shill for the banks…

“We are underestimating the number of immigrants coming to the city. We don’t have the sufficient supply due to government regulations. The rental market is extremely tight. If we don’t deal with the supply issues then we aren’t dealing with the real housing problem. If you think this city is expensive today, just wait ten years and see how unaffordable it becomes because we are not dealing with the supply issue.”

#163 Conn Smythe on 05.25.18 at 9:00 am

And lastly to repeat what I have already stated here, I have had numerous students tell me that Toronto housing is not expensive compared to their cities. That’s right, not expensive…

#164 Asds on 05.25.18 at 9:01 am

The orange wave was inevitable. With so many poor mills wondering how the hell they are going to survive in this low wage, low job security, high cost of living life. When a major part of the voting public struggles this can only be expected.

#165 Tater on 05.25.18 at 9:01 am

#31 tbone on 05.24.18 at 6:55 pm
Regarding a comment yesterday about houses in 1980 only going up 6 % if you held onto them until now .

I think anybody buying houses back then wasn’t really thinking of it as an appreciating asset .
It was a place to live and raise a family and know that you cant be turfed to the curb on the whim of a landlord .
It gave stability to the kids knowing they will attend the same school for the duration and not having to move around .
It was a just a home , and if it went up in value , so be it .
I never thought of it as an investment back then .
—————————————————————-

That was a reply to someone specifically claiming that buying a house in the 80’s was a good investment. And, I chose 1980 as it had the highest return of them all. Had you bought in 89, it was only 4%.

#166 NotLegalAdvice on 05.25.18 at 9:01 am

30 year old appealing the judge’s decision. HA!

#167 Ex-Cowtown on 05.25.18 at 9:02 am

#159 crowdedelevatorfartz

No one in BC cares about Alberta shutting off the gas/oil. Or the unbelievable amount of Albertan cars driving around the Lower Mainland looking for work.

+++++++++++++++++++++++++++++++++

Yeah….. right…… just promise me that when the tap is shut off you won’t be one of the ones screaming for it to be turned back on.

As to ICBC’s ginormous incompetence, don’t worry, I’m paying for their stupidity too. It seems that having a bloated inefficient and complacent government is a badge of honor out here. There’s nothing noble about paying twice as much for something.

I was through the LM recently and call BS on your Alberta plate issue. The only Albertan’s I saw were clearly tourists.

BC is has taken the hard left turn into Nation Breaking, not Nation Building. Nothing to be proud of here.

#168 Asds on 05.25.18 at 9:03 am

Also, this was really the PC’s election to lose. They had this election in the bag, and then elected an incompetent, ,misogynistic, corrupt, elitist fool as a leader. Way to go PCs, hopefully this makes you all wake up.

#169 Danforth on 05.25.18 at 9:07 am

Doug Ford must NOT become Premier. At all costs!

He’s a thug and a bully. He has no record of public service (he was a self-serving counsellor, and did nothing for his ward!). Ford has no understanding of the ‘greater good’ – is purely a ‘divider’, and has no concept of uniting. He only supports his base, and not all Ontarions.

Give to any one of Lib, NDP, or Greens…. but never, EVER FORD!

#170 SilverSon on 05.25.18 at 9:15 am

I laugh every time I read or hear anyone say anything to the effect of “they aren’t making more land” as a reason why RE prices will always go up.

Yes it’s true … they aren’t making any more land. So what. People have to want it, be able to afford it, and be able to get their hands on the money to buy it in order for its value to increase. Stagnant wages, being maxed out on debt, and significant increases in living costs (i.e. taxes) will tie the hands of a lot of folks, which will ultimately cap the value of land.

#171 crowdedelevatorfartz on 05.25.18 at 9:21 am

@#151 Conn Smythe
“On the contrary I said no such thing.”
+++++

Well.
To be honest, it’s kind of hard to tell after wading through your nonstop endless posting…..

#172 Smoking Man on 05.25.18 at 9:23 am

155 Gravy Train on 05.25.18 at 8:22 am
You have just harassed this blog. Pay up. – Garth

Not Morgan Freeman, too! Say it isn’t so, Garth….
…..,

Not only god, but every last one of us with an ounce of testostoron. Its how we are wired. You know, make sure we keep the human race growing.

There is a reason I wear mirrored shades at a swimming pool. See I’m normal and love the shape of a woman’s body. Its almost a crime now.

#173 Rexx Rock on 05.25.18 at 9:26 am

Alot of people who live in Victoria who don’t make a good wage are just survivalists.Millenials are just living for today and not saving for tomorrow.The central bank have created a huge bubble and debt so everyone is enslaved.The high income earners are living the dream!

#174 TurnerNation on 05.25.18 at 9:29 am

Remember folks we capitalist worker bees exist to fund public sector union largess.

ON NDeePee stooge promising 4500 new nurses. Appeasing their union and buying votes.

I hope those nurses like working in hallways cause there are NO HOSPITAL BEDS!

Total misdirection. UN agenda? Food security, sustainability blah etc. The opposite.

https://torontolife.com/city/woman-waited-47-hours-surgery-broken-bones-cracked-ribs-internal-bleeding/

#175 crowdedelevatorfartz on 05.25.18 at 9:33 am

@#151 Conn Smythe

My apologies.
I was commenting about your endless posting.
You’ve only posted 4 times today…..
My head was still spinning from your 27 posts yesterday…..

#176 Grey Dog on 05.25.18 at 9:33 am

I am NOT dedicated to one political party or the other. I would have voted Christine Elliot no problem. However, I CANNOT vote for Doug Ford. Yesterday at a funeral in Bill Davis territory everyone else had the same opinion regarding a NO vote for Doug Ford…

SO PLEASE GARTH, what do you think about showing up at the election station and telling the warden in charge about “DECLINING” the options presented?

#177 Stan Brooks on 05.25.18 at 9:37 am

#150 Be Realistic on 05.25.18 at 7:46 am

GTA can not sustain 9 million people due to:
– transportation issues and lack of infrastructure
– lack of work/what will these people do?
– lack of facilities, what will be the waiting time to see a specialist, 3 years?

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

#148 Conn Smythe on 05.25.18 at 7:29 am

As I said, small dick syndrome (not my fault).

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

#147 MF on 05.25.18 at 6:56 am

which part is the BS exactly?

None of these kids in University will have a decent job, or will ever leave their parent houses.
out of 300 k university and college grads 16 k found jobs and that was in 2012.

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

There are zero immigrants from Europe/the trend is actually negative, people are living Canada for Europe in the last 5-6 years and from Asia we seem attractive only to a few countries and definitely not for the top talent.

Big difference with US.

Canada is pretty much cause perduta for any qualified new immigrant.

#178 Bobby on 05.25.18 at 10:05 am

For #135 Don,

I think you should get out more, perhaps examine the real facts.

After 16 years in Opposition, yes 16, the NDP still received less of the popular vote than the Liberals. Certainly not a wringing endorsement of Mr Horgan and the NDP I would suggest. Wouldn’t you. The only reason they hold power, a tenuous hold at best, is due to a power sharing agreement.

May I suggest the fiasco which is the pipeline issue can best be described as a train wreck. Our Premier is both for and against something at the same time. What better way to paint yourself into a corner. His government looks like a deer in the headlights.

Add in the speculation tax, MSP fiasco and others and you have a government in complete disarray.

Yes, only an idiot would vote for the NDP.

#179 Follow The Money on 05.25.18 at 10:07 am

#138 CTO:- You have what it takes to be successful and have it all. The one thing missing is the ability to analyze your position moving forward. You haven’t even begun to do your homework. Canada is a big country with opportunity at hand, so just follow where the money is going.

#180 Mike in Toronto on 05.25.18 at 10:16 am

#153 Ezzy

I would take Harris over Ford. Harris may be ruthless, but at least he’s not corrupt or stupid.

Self-made politician too.

I’ll probably be voting NDP. The PC’s failed when they chose Ford as a leader.

#181 Shawn Allen on 05.25.18 at 10:24 am

Do Government Employees Contribute to Society and/or cost of government?

Saskatoon said that:

“government employees contribute nothing to the cost of running government itself…they only take.

why should people that contribute nothing to something be allowed to have a say in that something?”

When I sarcastically challenged the notion that government employees contribute nothing, IHCDT9 responded:

“The cost Man… The COST.

He said they don’t contribute anything to the COST of running the government.”

***********************************
I could get cute ans say government employees ARE the cost of government.

But Saskatoon is a long-time tax and government basher who thinks government contributes nothing.

That is a juvenile view not really worthy of response.

Saying a government worker does not pay the cost of government is like complaining that the carpenter does not contribute to the cost of a house.

Government workers mostly perform necessary services and they get paid and they contribute to society just as other groups do. If they are overpaid that is hardly the fault of any individual government worker.

#182 Conn Smythe on 05.25.18 at 10:42 am

#162 Be Realistic

“I am so glad there is at least one other sane person on here, Conn.”

The feeling is mutual! If it wasn’t for others like you I think I would feel like I stumbled into a Twilight Zone episode…

#183 Smoking Man on 05.25.18 at 10:43 am

They’re coming.

https://youtu.be/bZJxjJPa5Vc

#184 IHCTD9 on 05.25.18 at 11:09 am

#147 MF on 05.25.18 at 6:56 am
#115 IHCTD9 on 05.24.18 at 10:36 pm

Gonna have to disagree.

Anecdotally, my whole life I have been working with tons of recent and not so recent immigrants to Canada, and no one has left.

Most own houses in Brampton, Mississauga or Scarborough and have Canadian born kids in University.
____

Well, you probably don’t know all the immigrants in the Country either ya?

Besides, I was not so much making an assertion as I was passing along a point via the study made by StatsCan et al as posted.

#185 Oft deleted much maligned stock.picker on 05.25.18 at 11:10 am

What breed is that beast in the picture…..some kind of wanna be wah wah hybrid…..? Sorry busted Mills…..but only a real degree and career goals will get you out of the rapidly collapsing Trud-Hole once called Canada. Book early…it’s near impossible to get a seat on the AA 1189 direct….from Van-low pay to Dallas….the brain drain ain’t being talked about….but it’s a freaking tsunami.

The folks that had to go to court to get the kid to wake up must have been very frustrated…..to resort to tough love. I didn’t have that problem…..my kid learned business listening to daddy chainsaw the telephone. He drove himself to University and has a paying profession. If you’re a Mill and still at home you’re a loser….think about it. Sleeping in the park has more class….builds character.

American money is flooding the Ontario election..California will lose billions if Ford is elected. The ZEV scam will fall apart..

.A falling market in Canada is music to the ears of Asian buyers…..those currencies are accelerating while the Loon and the Loonie socialists put housing stock on sale.

Trudeau/Butts will kill Trans Mountain by death of a thousand cuts. Kinder Morgan shareholders are in open revpltband not spend good money on Trudeau’s mincing Gambit. Expect a lot of wailing and promises from Trudeau…..but the American Carpet Baggers have Trudeau by the cojones.

#186 232 on 05.25.18 at 11:14 am

Kitchener-Waterloo market suffering too:

50 Willowrun Dr was listed for $750k on Aug 25th of 2017 (just built). Not sure if it sold or not, but it went off the market. Then on Mar 28th went up for sale for $730k. On May 23rd got a new price of $700k.
This area is filled with new builds, a brand new JK-8 school, neighbors with Waterloo’s international airport, commutable to London or GTA. Yet no takers….

#187 IHCTD9 on 05.25.18 at 11:18 am

#149 Conn Smythe on 05.25.18 at 7:34 am
#115 IHCTD9

“You can bet your ass that high end economic class immigrants desiring to set up shop somewhere and grow roots are finding much better options elsewhere these days.”

The good folks at my school didn’t get the memo I guess. 20 nations and growing. I have seen exponential growth in the last decade. Good portion of the student’s parents are business people. Many don’t trust their governments and want to make sure they have capital outside their nations. As Sir Winston said, “democracy is the worst form of government, except for all the others…”
___________

How many students in the school – around a million or so?

Probably not

Are these the children of the best and brightest the world has to offer?

Probably not.

I work with immigrant business people from the GTA every day, most make bottom wages and are going nowhere.

I send my kids to Private schools too – I’m your typical rural goon making an uninspiring income. That school of yours ain’t the metric for the job at hand.

#188 Alistair McLaughlin on 05.25.18 at 11:19 am

@ Be Realistic and Conn Smythe, houses in the GTA burbs cost more than houses on Long Island or Westchester or various northern New Jersey suburbs outside NYC. That will never make any sense, regardless of how much the GTA’s population grows. Keep telling yourselves you’re the only sane ones here. That’s what all crazy people think. I’ll leave you two to get back to your folie à deux.

#189 Linda on 05.25.18 at 11:25 am

I was wondering what the ‘average’ Canadian household could afford for mortgage costs. As per StasCan, average household income in Canada is $70,336 per year (2015 figures). As per the CMHC mortgage affordability calculator the average Canadian household could afford a mortgage in the $200,000 range. I used the following for the calculation: $5,500 per month average income (yes, I do know that adds up to less than $70,000); $1,000 monthly debt expenses, $350 monthly property taxes, $300 monthly utilities; 5.34% interest rate; 25 year amortization & finally, a $100,000 down payment.

Obviously mortgages are being approved for far higher amounts than what the ‘average’ Canadian household income permits. Yes, the value of the property being purchased is a factor in the amount of the mortgage being approved. But given the results from the affordability calculator one can see how it is that all the financial eggs are in one basket.

#190 IHCTD9 on 05.25.18 at 11:26 am

#143 Conn Smythe on 05.25.18 at 5:15 am
#115 IHCTD9

“Or, the new folks show up in the GTA and see that houses cost 1.3 million, realize the job market is totally saturated, wages have barely moved in a decade, and then on top of all that – half their crappy income ends up in the government’s pocket…”

Or the new folks show up with loads of cash like many of the students at my school. Many of their parents buy them condos to live in. One former student is 21 and by to visit me recently. His parents bought him a home in Mississauga so he could live in it while attending U of T. He asked me to come out to the parking lot to see his new car. A Lamborghini… You have to realize that some of them come from cities that make Toronto real estate look cheap.

____

I understand rich people exist, and these folks spend lots of money on their kids. Unless your school has a million+ students with rich parents – I’m going to stick my neck out and say the numbers of rich millionaire immigrants are a fraction of the total. I’m going to guess most immigrant kids aren’t getting a Lambo courtesy of Mom and Dad. I’m guessing regular immigrants may find life in Canada much tougher than your clientele does.

#191 Buy? Curious? on 05.25.18 at 11:29 am

#184 conn smythe, what is a Twilight Zone episode? Is that like a Boomer moment?

#192 JohnSaccy on 05.25.18 at 11:35 am

God Help the Conservatives, if this rumor turns to be true. The lieberals are out for blood.

https://www.reddit.com/r/ontario/comments/8lphpc/doug_ford_accused_of_buying_memberships_to_help/

#193 aa3 on 05.25.18 at 11:38 am

Part of what makes socialism so unstoppable in democracies is that people want to believe the promises.

Sweet, free houses, free college, free green electricity, etc. And according to leftist dogma, there is an endless amount of super rich people with endless money.

When someone like me comes along and tells the left wing voter actually there is a limit to the number of rich and the level of taxes they will pay.. its like being the negative Nellie in the room. You are attacking their dream, so they simply block you out.

#194 MF on 05.25.18 at 12:01 pm

79 Stan Brooks on 05.25.18 at 9:

I found a job and so did all my friends.

Go on any forum with US millennials and you will hear the same complaints.

Globalization is a global phenomenon.

MF

#195 MaxBerniersShorts on 05.25.18 at 12:13 pm

61 Yorkville Renter
Maybe in ON but not BC, even corporate landlords will try and renovict you.

#196 GoNDPGo on 05.25.18 at 12:19 pm

Thanks Garth for helping moi make up my mind.

Want to buy in 2019. So hope NDP brings in innovative ways to tax RE and cause a deep correction. Voting NDP this time.

Next time back to PC as usual.

Expect a recession, not a correction. Experience in BC so far has shown real estate has become more costly on the ‘low’ end and remains unaffordable on the other. – Garth

#197 Howard on 05.25.18 at 12:57 pm

#81 Ustabe on 05.24.18 at 8:53 pm
Fake news and fake quotes, bet you’re under 45….and PS they ain’t that popular, maybe in your world?

I’m 71.

Been involved one way or another with the conservative movement in Canada since Dief. Dues paying member since I was able, voted pure PC until Mulroney.

And here I am, telling you my story, far less damaged and far less stupid.

————————————————

The Conservative party you voted for back the was a clone of the Liberals.

You didn’t change. You were always leftist. You just became pissed off when the erstwhile “conservative” party started actually acting like it (in some ways anyway).

#198 Howard on 05.25.18 at 1:00 pm

New Forum poll out.

NDP 47%
PC 33%
Lib 14%

If those numbers hold, NDP majority (obviously) and a Liberal caucus of…..ZERO.

#199 ray on 05.25.18 at 1:27 pm

“Add in the speculation tax, MSP fiasco and others and you have a government in complete disarray.
Yes, only an idiot would vote for the NDP.”

Disarray, what province are you living in. BC hasn’t been in better shape for over 2 decades The Liberals left a 1 billion dollar debt at ICBC, bankrupted BC Hydro, doubled medicare premiums, gave a 1 billion dollar tax cut to the top 1 %, destroyed the housing market, and allowed any lobbyist who stuffed enough money in to their pockets to write up any law they want. The NDP have done more in one year than the Liberals accomplished in 16. BC would never be dumb enough again to vote for a puppet conservative government. We learned our lesson

#200 SimplyPut7 on 05.25.18 at 1:47 pm

#115 IHCTD9 on 05.24.18 at 10:36 pm
#145 Stan Brooks on 05.25.18 at 5:34 am

I never understood the people who think immigrants are going to come and rescue them from the mess they created. If immigrants were already willing to leave their home country to go to another place in the world to live, why wouldn’t they leave Ontario to go to another city, province or country that will provide a better opportunity for themselves and their families.

That study about how many immigrants stay and how many leave needs to be updated so politicians can see for themselves how their policies that created a high income tax environment, very few incentives to start or grow an existing business or maneuver around the red tape in this country caused business oriented and in-demand skilled workers to leave for other parts of Canada or go to the USA, UK or Australia to work and raise a family.

#147 MF on 05.25.18 at 6:56 am

I have met many people who come to Canada, find out it is not easy to make it here and leave for the US, UK, Australia or go back to their home country after realizing the pastures are not greener in Canada.

The immigrants you speak of will be gone once they find out how mortgage rates and renewals work in a rising rate environment in Canada compared to the US who have 15 year and 30 year fixed mortgage rates.

#201 Proof ? on 05.25.18 at 1:48 pm

to # 199 Be Realistic

1) The average inheritance in Canada is about Cdn $ 80,000.00 net per sibling as per Garth on this blog ( I believe last year).

2) Currently, I believe the figure is about 33 % of Canadians are retiring with significant mortgage related debt outstanding. If the mortgage ain’t paid off, ain’t huge sums to be inherited.

4) After paying for late life expenses like nursing / old age homes at $ 4,000 and up after tax money per month, how much will be left to inherit do you think ?

3) There is demand for everything – at a price. Land is only worth what the “highest and best allowable use” for it is. You can’t “rent” vacant land for income and no one will finance it. At these prices, very few can or will be able to afford to do so, and in a down market, there will be few buyers unless you can write a very hefty ( 8 figure) check just to start. The front end load of (unfinancable)development charges further reduces the number of players in this market.

You really have no idea of what you are speaking about – the logistics , costs of developing and financial commitment for residential land development in Ontario preclude many from being involved – it is a “big boys’ ” market now. It also takes a long time to get your capital out ( 7 to 9 years from purchase to full cash out). How many people do you know of that will park $ 20 million (for small) for 9 years with an unknown profit margin ?

Maybe time for you to “be realistic”.

#202 45north on 05.25.18 at 2:01 pm

Dippers at the Gate

The number of new houses sold in April crashed 65% from the same month last year, with sales now running 70% below the 10-year average.

if sales of new houses are down 70%, the economy is crashing right now.

So many Millennials now equate wealth with real estate, and are happy to see “rentier” landlords hobbled, property taxes increased, second homes whacked and almost all housing investment labeled as corrupt. It’s easy to see a new, larger assault taking place on real estate equity

it’s not so easy to see, the great mass of people who own real estate. It’s overvalued and it’s in their interest that it remain overvalued. Ontario is at a different point in the real estate cycle than BC. When BC had its election, the perception was that real estate would never drop. Even if the Dippers were elected. In Ontario, real estate is dropping. The Dippers threaten real estate and people know that.

Besides you’re putting too much weight on a small group who post on this blog. There are millennials who post on this blog. I’m talking about a subset. They’re CBC types who are just trying out their speeches.

#203 Alistair McLaughlin on 05.25.18 at 2:01 pm

Howard, I’ve been thinking it’s going to be an NDP landslide since well before they started moving in the polls. Doug Ford was just the latest PC own goal. Personally I blame Caroline Mulroney. If she hadn’t have inherited her father’s oversized ego (all of it) she’d have stayed out of the leadership race, throwing her support behind Christine Elliot right from the start. Instead, she drained off a lot of supporters and fund-raising and membership sales from the Elliot camp. Even if most of her supporters did choose Elliot second on the ranked ballot, it’s not the same as having a stronger organizational backing to begin with. Elliot just never got quite the traction she needed to defeat Ford.

All is not lost however. There will likely be a recession within two years, and then the massive debts and overspending and mismanagement wrought by the Liberals will hamstring the government in power. And people being what they are, they’ll blame the party in power. I’d rather that be the NDP. Remember what followed Bob Rae’s reign of terror. Two Mike Harris majorities, that’s what. Things will work there way around again. In the meantime, the PC’s need to learn to stop trying to be Liberal-lite, and stop electing unelectable losers for leader. Hard habits to break.

#204 SimplyPut7 on 05.25.18 at 2:02 pm

Home listings in Toronto back above 6000!

Check out this beauty, it can be yours for only $1.599 million

https://www.zolo.ca/toronto-real-estate/46-exbury-road

#205 Alistair McLaughlin on 05.25.18 at 2:04 pm

Expect a recession, not a correction.

Expect both.

#206 Boland on 05.25.18 at 2:13 pm

US house prices and Canadian house prices have NO correlation. I assumed they would and have been wrong. My hypothesis for the divergence is the ease of employment based migration for people from developing countries to Canada vs US. US green cards take close to 10+ years if at all for people from India. For people from China, it’s a bit better. For people from other countries, it’s not too bad. So my suggestion to people born in Canada and working in technology sector is to migrate to the US, spend a few decades of your youth enjoying nice house and better work culture and then choose to come back to Canada if you are so inclined.
If Trump’s immigration policy filters into Canada as well, then it could get really interesting on many fronts.

#207 Conn Smythe on 05.25.18 at 2:14 pm

#183 Buy Curious

“Conn smythe, what is a Twilight Zone episode? Is that like a Boomer moment?”

Boomer moment with flashbacks of Rod Serling…

#208 Proof ? on 05.25.18 at 2:17 pm

To comment # 203 ray

“We learned our lesson…”

No, sorry son, BC’s ‘schooling’ has just begun.
Wait until you get to the ‘graduation’.
It will be a lesson you fools who voted these cretins into power will NEVER forget.

#209 Newcomer on 05.25.18 at 2:18 pm

#74 Be Realistic on 05.24.18 at 8:30 pm
—–
One of the difficulties in using numbers to gain understanding is that numbers in isolation, while apparently meaningful, don’t actually tell us much. You have to get an understanding of the number landscape by looking at a lot of numbers together.

If you are actually a fan of realism, and not a fellow interested only in justifying his choices, why don’t you take a look at Toronto population growth over the past hundred years or whatever and compare it to real estate price increases? You could also do the same for other New World cities, for example in the US, Australia etc. Then you would know whether or not current and projected population growth in Toronto explains recent price gains and whether or not those levels of population growth point to further price gains.

#210 Lee on 05.25.18 at 2:19 pm

#202 Howard,

Problem with random polling is that people on the left are much more likely to answer a cell phone call and give their opinion. It’s part of their progressive mind set. That is what makes these polls less than reliable. A guy in a suit running an investment firm is more likely to say “I’m busy”, hang up, and jump in his Porsche. So it is hard to tell how much of a lead Horvath needs in polls to win. Also, according to the CBC Ford has stronger support in the GTA-Hamilton-Niagara region where there are more ridings. Needless to say, rather than poll watch people should get out and vote, and phone a friend when you do. Everything else is pointless.

#211 Conn Smythe on 05.25.18 at 2:19 pm

#192 IHCTD9

“I’m guessing regular immigrants may find life in Canada much tougher than your clientele does.”

Understand the numbers. Go to U of T and Waterloo and you will think you are in a foreign country. As one of my former students said who attends Waterloo, “I feel like I am back in Shanghai.” International tuitions are off the chart expensive. 50k a year for some programs at U of T. Even the public high school boards in the GTA are recruiting students from China as one example and their high school tuitions are also very, very steep.

#212 Conn Smythe on 05.25.18 at 2:24 pm

#189 IHCDT9

“How many students in the school – around a million or so?Probably not.Are these the children of the best and brightest the world has to offer?Probably not.”

Not sure why you are making disparaging remarks about a school you are clueless about. We enter contest at Waterloo and U of T and I have students placing very, very high in the standings. We have among the best and brightest and I am extremely proud of them.

#213 Gravy Trump on 05.25.18 at 2:43 pm

DELETED

#214 Conn Smythe on 05.25.18 at 2:47 pm

#199 Be Realistic

“On a lesser note, you are forgetting inheritances. The biggest transfer of wealth is underway and will continue for some time. People are getting wealthier everyday, it’s just not in the wage stats.”

Bingo! Another good point. Their is an enormous transfer of wealth coming down the line.

Little credible evidence of that. The average is about $80,000. – Garth

#215 Ubul on 05.25.18 at 2:52 pm

#216 Conn Smythe on 05.25.18 at 2:19 pm

#192 IHCTD9

“I’m guessing regular immigrants may find life in Canada much tougher than your clientele does.”

Understand the numbers. Go to U of T and Waterloo and you will think you are in a foreign country. As one of my former students said who attends Waterloo, “I feel like I am back in Shanghai.” International tuitions are off the chart expensive. 50k a year for some programs at U of T. Even the public high school boards in the GTA are recruiting students from China as one example and their high school tuitions are also very, very steep.

It’s worth it, because it is a gateway to immigration.

#216 Conn Smythe on 05.25.18 at 2:52 pm

# 190 Alistair McLaughlin on 05.25.18 at 11:19 am

“I’ll leave you two to get back to your folie à deux.”

Aren’t you a witty one Allistair! I shall leave you to your
folie à plusieurs. Enjoy waiting for the big crash with your buddies.

#217 Conn Smythe on 05.25.18 at 2:54 pm

#177 Crowdedelevatorfartz

“My head was still spinning from your 27 posts yesterday…..”

Sorry for the head spinning. Off to the cottage and some 15 year old Scotch for the weekend. You will get a respite from my posts! Have a great weekend blog dogs!

#218 jess on 05.25.18 at 3:02 pm

and this guy wanted to be the ambassador to the UAE!

steven stockman went to jail and didn’t pass go republiCON

The indictment comes after Stockman was arrested earlier this month while boarding a plane in Houston. Stockman in turn blamed the “deep state” for his arrest.

false statements to the Federal Election Commission and engaging in political contributions illegally routed through so-called conduits.

Federal prosecutors alleged that Stockman used a Nevada-based non-profit, Life Without Limits, to collect donations for charitable purposes, including for renovating a Washington, D.C., house to be used for the charity. Instead, prosecutors contend, Stockman used much of the funds for personal expenses and directed a portion of the money into his campaign coffers through third parties.

https://talkingpointsmemo.com/news/former-rep-steve-stockman-is-our-duke-of-the-week

Stockman is also accused of “filing a false tax return that concealed his receipt and use of the fraudulent proceeds,” the Justice Department said in a press release.

Former Texas congressman Steve Stockman found guilty of 23 felonies

A federal jury in Houston has ruled that Steve Stockman, a conservative Republican, is guilty of all but one charge in his federal fraud trial.

#219 Alistair McLaughlin on 05.25.18 at 3:08 pm

Macleans ran a big cover story circa 1990 regarding the” enormous inheritance windfall” about to land on the boomers. They estimated it would be large enough to reshape the entire economy. In 1998, they ran a mea culpa in which they rescinded the conclusion from the first article. Turned out the windfall was less than half the size they estimated, and that amount had been further reduced by legal fees, feuds between beneficiaries, and the fact that real estate had by that time been in an 8 year slump. Expect today’s predictions about inheritance windfalls to meet a similar fate. Sure there will be some, but it won’t be anything like what it looks to be right now.

#220 Ustabe on 05.25.18 at 3:09 pm

The Conservative party you voted for back the was a clone of the Liberals.

You didn’t change. You were always leftist. You just became pissed off when the erstwhile “conservative” party started actually acting like it (in some ways anyway).

This drivel doesn’t even deserve a response except to point out the paucity of intellect that allows this type of perverse thought to rationalize the current state of affairs in Canadian conservatism.

#221 New Tech Colleges on 05.25.18 at 3:10 pm

I doubt many of you have ever seen them, or looked at the various programs being offered. They range from 1 or two years, but can go right up to a Ph.D level into future technical needs that will be in demand. Any family that has a student approaching high school graduation needs to consider this option too.

#222 NoName on 05.25.18 at 3:15 pm

#222 Conn Smythe on 05.25.18 at 2:54 pm
#177 Crowdedelevatorfartz

“My head was still spinning from your 27 posts yesterday…..”

Sorry for the head spinning. Off to the cottage and some 15 year old Scotch for the weekend. You will get a respite from my posts! Have a great weekend blog dogs!

Hard to find those around without breaking a bank, What 15 y/o scotch ?

#223 RG on 05.25.18 at 3:20 pm

BURN THE RICH

AND THEIR ENABLERS IN THE ADMINISTRATIVE CLASS

And their staff associates in the medical, technical, educational and financial industries

oh wait that’s me

nevermind

#224 jess on 05.25.18 at 3:34 pm

Some more Reality Shapers

Elliot Broidy, George Nader, Erik Prince, and Israeli social media strategist Joel Zamel

not only Russia tried to interfere with the United State’s 2016 presidential election – but claims Israelis also

Israeli Spy Firm Black Cube Denies Trump Aides Hired It to Discredit ex-Obama Officials

https://www.haaretz.com/us-news/ronan-farrow-israelis-are-interfering-in-american-politics-1.6100056
https://www.nytimes.com/2018/05/19/us/politics/trump-jr-saudi-uae-nader-prince-zamel.html
===================================
Who Is Joel Zamel, the Australian-Israeli Linked to Mueller’s Trump Probe?

The Israeli social media expert, allegedly linked to the Trump campaign through an online manipulation campaign, founded several companies, including one offering ‘honey traps’ and ‘deep web’ capabilities

https://www.haaretz.com/israel-news/.premium-who-is-joel-zamel-australian-israeli-linked-to-mueller-s-trump-probe-1.6104963

http://www.wsj.com/public/resources/documents/psygroup.pdf?mod=article_inline

http://www.wikistrat.com/
By contrast, Wikistrat is a large, established company with a much higher and extremely public profile. It was founded in Israel in 2010 and is now based in Washington, D. C. It bills itself as “the world’s first crowdsourced consultancy. We leverage a worldwide community of several hundred strategic thinkers to run simulations of likely international events and unfolding global trends, wargame future conflict or crisis scenarios, and conduct strategic planning exercises.”

#225 Jason on 05.25.18 at 3:40 pm

To me, the scary part is that after all the equity has been taxed and burned there will only be the liquid assets left to target.

#226 Renter's Revenge! on 05.25.18 at 3:42 pm

#174 Smoking Man on 05.25.18 at 9:23 am
155 Gravy Train on 05.25.18 at 8:22 am
You have just harassed this blog. Pay up. – Garth

Not Morgan Freeman, too! Say it isn’t so, Garth….
…..,

Not only god, but every last one of us with an ounce of testostoron. Its how we are wired. You know, make sure we keep the human race growing.

There is a reason I wear mirrored shades at a swimming pool. See I’m normal and love the shape of a woman’s body. Its almost a crime now.

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

Most women seem to appreciate being hit on, if you do it right.

#227 Blacksheep on 05.25.18 at 3:42 pm

Shawn # 183,

“I could get cute ans say government employees ARE the cost of government”

“Government workers mostly perform necessary services and they get paid and they contribute to society just as other groups do.”
—————————————–
Agreed, but I think there is more to this…lets try to break it down. Here’s my two bits.

First:
Group A) Any body employed / contracted by, in any way, in all levels of Government.

Think about that for a minute…think of all the costs of our society in group A). Think about how efficient, or not, public anything tends to be:

Courts, Electricity, Education, Emergency services, Environmental protection, Health care, Military, Postal service, Public bank, Public broadcasting, Public library, Public security, Social services, Telecommunications, Urban planning, Transportation infrastructure, Waste management, Water supply network ect.

https://en.wikipedia.org/wiki/Public_service
——————————————
Second:
Group B) Any body doing business, employed or contracted in any way, by the private sector.

This includes all private business that does not fall into the group A). Think of how hard it is to start a business and turn a profit, because this is the unfettered capitalism zone, where financial risks are high and business is, dog eat dog.

So group B) generates the gross revenue to provide for their own needs / wants, and then is forced by law, to cover any and all funding shortfalls that occur when group A) provides the necessary services of a modern society.

If kept in a state of relative equilibrium, where group B) sees, that group A) is behaving in a financially responsible fashion, I think most are happy to just live their lives and pay their taxes.

Note: Please don’t bother pointing out, government employee’s pay taxes too, because every cent their subsidised, has to come from someone in group B) to begin with, in one form or another.
——————————————
Having clarified the public / private sector issue, lets move on to the overall burden group B) faces.

Elections:

When some voters are feeling they’re not getting their fare share in life, for what ever reason, they elect anyone (NDP?) that promises to extract more revenue from Group B) and outright give it to the disgruntled voter, in one $ break / service or another.

This simply places more (too much?) financial burden on group B) to not only carry the necessary operational costs of group A) but also carry the irresponsible spending of those buying votes at the very top of group A)

To make matters worse, many of those at the very, very top of group B) have found a way to avoid paying their fair (Garth’s 53%) share of extreme profits as they offshore (Bahamas?) taxation via government sanctioned, tax evasion.

https://www.thestar.com/news/paradise-papers/2017/11/15/canadas-biggest-corporations-have-more-than-1000-subsidiaries-in-tax-havens-report-says.html

Soooo….the middle / upper class is left to do the heavy lifting.

It shouldn’t be, group B) against group A). It should be groups A and B united, demanding equal taxation of ALL citizens and responsible fiscal governance.

And some wonder why the herd is getting pissed off…..

#228 James on 05.25.18 at 3:47 pm

#227 NoName on 05.25.18 at 3:15 pm

#222 Conn Smythe on 05.25.18 at 2:54 pm
#177 Crowdedelevatorfartz

“My head was still spinning from your 27 posts yesterday…..”

Sorry for the head spinning. Off to the cottage and some 15 year old Scotch for the weekend. You will get a respite from my posts! Have a great weekend blog dogs!

Hard to find those around without breaking a bank, What 15 y/o scotch
________________________________________
Amateurs, phffftt 15y/o is for newbies, talk to me when your hitting 35-40 y/o. Better yet try The Macallan In Lalique 65 Year Old. Worth the price.

#229 Blacksheep on 05.25.18 at 3:57 pm

Shawn # 183,

“I could get cute ans say government employees ARE the cost of government”

“Government workers mostly perform necessary services and they get paid and they contribute to society just as other groups do.”
——————————————–
Agreed, but I think there is more to this…lets try to break it down. Here’s my two bits.

First:
Group A) Any body employed / contracted by, in any way, in all levels of Government.

Think about that for a minute…think of all the costs of our society in group A). Think about how efficient, or not, public anything tends to be.

Courts, Electricity, Education, Emergency services, Environmental protection, Health care, Military, Postal service, Public bank, Public broadcasting, Public library, Public security, Social services, Telecommunications, Urban planning, Transportation infrastructure, Waste management, Water supply network

https://en.wikipedia.org/wiki/Public_service
——————————————————-
Second:
Group B) Any body doing business, employed or contracted in any way, by the private sector.

This includes all private business that does not fall into the group A). Think of how hard it is to start a business and turn a profit, because this is the unfettered capitalism zone, where financial risks are high and business is, dog eat dog.

So group B) generates the gross revenue to provide for their own needs / wants and then is forced by law, to cover any and all funding shortfalls that occur when group A) provides the necessary services of a modern society.

If kept in a state of relative equilibrium, where group B) sees, that group A) is behaving in a financially responsible fashion, I think most are happy to just live their lives and pay their taxes.

Please don’t bother pointing out, government employee’s pay taxes too, because every cent their subsidised, has to come from someone in group B) to begin with in one form or another.
——————————————————-
Lets move on to the overall burden group B) faces.

Elections:

When voters are feeling like they are not getting their fare share in life, for what ever reason, they elect anyone (NDP?) that promises to extract more revenue from Group B) and give it outright to the disgruntled voter in one $ break / service or another.

This simply places more (too much?) financial burden on group B) to not only subsidise the necessary operational costs of group A) but also carry the irresponsible spending of those buying votes at the very top of group A)

To make matters worse, many of those at the very, very top of group B) have found a way to avoid paying their fair (Garth’s 53%) share of extreme profits as they offshore (Bahamas?) taxation via government sanctioned, tax evasion.

https://www.thestar.com/news/paradise-papers/2017/11/15/canadas-biggest-corporations-have-more-than-1000-subsidiaries-in-tax-havens-report-says.html

Soooo….the middle / upper class is left to do the heavy lifting.

It shouldn’t be group B) against group A) It should be groups A and B united, demanding equal taxation of ALL citizens and responsible fiscal governance.

And some wonder why the herd is getting pissed off.

#230 Howard on 05.25.18 at 3:59 pm

#225 Ustabe on 05.25.18 at 3:09 pm

That’s the kind if ad homenim comeback we’ve come to expect from the cultural Marxist left.

Can you identify a single philosophical difference between the old federal PC party and the Liberals? Note that philosophical differences are not the same as simple policy differences.

#231 Newcomer on 05.25.18 at 3:59 pm

#121 Karma on 05.24.18 at 10:53 pm

Umm, wrong level of government.
———

I would advise against starting replies with, “umm.” It was played out as a written rhetorical device by around 1997. These days it just makes you sound dumb. It is in the same grouping as saying “Kanada” or “gubbermint.” It makes people tune out.

Still, point well taken. If you are concerned that the Vancouver Greens might differ significantly from the BC Greens on housing, you can see their Vancouver platform here:
https://www.vangreens.ca/council_platform_2017

#232 Shawn Allen on 05.25.18 at 4:26 pm

Yes, Government Workers Pay tax

Blacksheep politely responded to me including:

“Note: Please don’t bother pointing out, government employee’s pay taxes too, because every cent their subsidised, has to come from someone in group B) to begin with, in one form or another.”

***********************************
Tomorrow I will explain clearly how it is that government workers pay tax and that such taxes do not come from the private sector.

By the way, I and my family have operated in both sectors my entire life. I know what it is to compete in the private sector and employ people and make a payroll.

#233 Blacksheep on 05.25.18 at 4:46 pm

They’re, not their.

#234 Shane Gallant on 05.25.18 at 6:30 pm

there should be a box on the voting ticket revolution Party maybe I will add my own.

#235 Stan Mills on 05.25.18 at 7:18 pm

Government workers do not really pay taxes. It is in the word, government.

Where do you think governments of all level get their money from, government revenues.

Government revenue does not come from building products or providing a service and making a profit from it. They always borrow money because they can’t stay in the black, positive or more balance.

By the way, if this is the mentality of people today then facts have no chance, people are morons and socialism always runs badly. You can’t stop running out of other people’s money.

Go look into history and see how Bob Rae’s NDP worked out for their party and the province. They sucked big time.

#236 Chris on 05.28.18 at 1:59 pm

#9 Bibi on 05.24.18 at 6:01 pm
Considering the circumstances, NDP is a logical choice. Boomers get ready to pay up for your sins. Burn baby, burn!
___________

My only sins are hard work and aging.