What’s precious

Someone mentioned recently this is an excellent blog to suicide by. That caught my attention. Have things been a little too dark here lately?

Perhaps. But don’t blame me. I didn’t invent FOMO, Trump, Dippers or moister house lust. This site is just a slice of rolling history reflecting society and tempered (of course) with canines. If people are weird, vacuous or hormonal, well, it’s recorded. It would be hard to make up the stuff that’s happened lately. So deal with it, or leave and watch Global News.

Having said that, there is hope for humanity. Not everyone has stepped off the debt ledge into the abyss of stuff. Some young people understand it’s all a trap. First they make you crave things. Then they make them unattainable. The only way to bridge is by borrowing more money than your parents could ever fathom at your age – setting up a dismal path for the rest of your working years. But wait. This is getting depressing again.

Time to bring in Wilf, a blog dog who has learned well. Good boy, Wilf.

In a recent blog post you wrote that “nobody corresponds with me because they’re okay.” That seems like a pretty sad state of affairs, so I thought I’d change that.

I haven’t been reading your blog for as long as some, but it’s still been a couple of years. It was my wife who got me hooked, so right off the bat you can tell that we aren’t your classic “Mars and Venus” case. We’re in our late 30s, two kids, and rent a nice place in downtown Toronto. For years we watched as home ownership got more and more expensive, but managed to resist (barely) the siren song. Instead, I worked while she went to med school, and we used my earnings to keep loans minimal. While her classmates bought new cars and took vacations, we drove our clunker, stayed home, and paid off debt. When the clunker died, we bought our next car with cash (that was before we read your blog and learned why leasing was better, but nobody’s perfect).

As a result we’re 100% debt free. We save a big chunk every month (which goes into registered accounts invested in diversified ETFs with a 60/40 split), plus my wife has a nice defined-benefit HOOPP pension. Yes, we sometimes feel house lust, but we long ago realized that the stresses of home ownership would make us less happy, not more. And why would you pay a huge chunk of our net worth to be less happy?! It would be madness.

Perhaps one day we’ll buy, but right now, with our finances in order, we’re on the precipice of splurging on something that actually will make us more happy: a part-time housekeeper. Less time doing chores means more time for everything else, and time is what’s really precious.

Thanks for all the advice! Sincerely, Wilf.

So here is the question: what defines success?

The correct answer: that which brings you happiness, pleasure, joy or (especially) contentment.

These days society has been telling its young what they should be happy about (owning real estate) even when that is inextricably, firmly linked to so much that’s unpleasant. Mortgage debt. Property taxes. Insurance, maintenance, fees, repairs, utilities. Plus the stress of rising interest rates or a falling housing market. If kids arrive or a marriage fails, being tethered to big fixed costs and a massive borrowing becomes more complex, costly. A job loss can be devastating in a special way only the mortgaged can understand. And almost all young homeowners have zero net worth outside those walls. No diversification. No balance. No liquidity. No safety net.

How, exactly, can this make you content? Or enjoy time? Or savour every fleeting month of your youth?

Nah, the goal of life isn’t a house. It’s liberty, health and the cash to make the most of them. Never surrender your freedom, nor trade it cheaply for some dirt and some debt. Years later you’ll understand what a Faustian foul-up that was.

Wilf and his young doc wife are buying help, not a house. In essence, it’s a purchase of time.

Envy them.

196 comments ↓

#1 waiting on the westcoast on 07.04.18 at 4:14 pm

Amazing how social pressure, good tv marketing and evolutionary desires can make you engage in a mad activity… It’s great to see Wilf and family resist the horniness and see the value of building assets. Congrats!

#2 Steve French on 07.04.18 at 4:19 pm

First?!

and i beat that turncoat smoking goon too…

SteveO

#3 Parallel49 on 07.04.18 at 4:20 pm

Garth,

Thanks for your unwavering commitment to this blog. I always look forward to reading your thoughts even when I don’t necessarily agree. It spurs me to think deeper about the issues and hopefully arrive at a better conclusion.

Regarding the impact of dirty money on Vancouver real estate from the posting “Everyone Knows” on Monday 2 July, I ask that you re-consider using such a narrow definition of laundered money. The $100 million washed through casinos over the last decade represents a small fraction of the illicit funds entering the market, and is primarily sourced from hard criminals engaged in the drug trade, prostitution, extortion, etc. I agree that $100 million is a drop in the bucket for the Vancouver market and it pales in comparison to the billions laundered through the conventional banking system as well as underground banking networks.

The MLS composite benchmark price combining all housing types (detached, townhouse, condo) for Greater Vancouver stands at $1,094,000 as of May 2018. Even if a foreign buyer manages to borrow 75% of this amount, they still require a down payment of $273,000 excluding property transfer taxes and GST if applicable. Chinese nationals are only allowed to transfer up to US$50,000 = CAD$66,000 out of the country annually.

In order for this purchase to happen, all manner of white collar crimes are committed to launder money out of China. Notable examples include:
(1) The practice of “smurfing” where multiple transfers of small amounts below the US$50,000 limit are made under a variety of different names (employees, relatives, etc.)
(2) Having friendly suppliers outside of China over-invoice for products so as to allow the business in China to spirit excess capital easily across the border and have it deposited at an institution outside of China.
(3) Under-invoicing friendly customers outside of China and having them make up the difference with a deposit into an account outside of China.

Furthermore, there is no shortage of reports of graft and corruption within the Chinese political community as illustrated by the fate of Qu Zhang Mingjie. She is the mother of Qanting Qu, the Vancouver based pop star and former girlfriend of Vancouver Mayor Gregor Robertson. Qu Zhang is currently sitting on death row accused of embezzling US$55million during her tenure as a planning official in Harbin City in the province of Heilongjiang.

China’s foreign currency reserves peaked at US$3.843 trillion equivalent at the end of 2014 and declined to slightly less than US$3 trillion in January 2017. Since then they have recovered slightly to US$3.110 trillion. The MLS benchmark composite cited above which includes all housing types appreciated by 19% in 2015 and 18% in 2016 for Greater Vancouver.

During the two years when the city experienced almost 20% back to back annual price increases, more than US$843 billion dollars was drained out of China. The figure you quoted for the value of all properties sold in Vancouver last year was $37.8 billion, which is less than 4.5% of the money that left China during that period. I’m assuming the $37.8 billion you quote is only for residential property and does not include commercial and industrial sales. Otherwise, the percentage would decline even further given than Anbang’s purchase of the Bentall towers in downtown Vancouver was a $1 billion transaction on a stand alone basis.

Let me be the first to declare that “correlation does not imply causation” and of course, not all $843 billion was laundered money. A good portion of it could have easily left for bona fide reasons. Even if just 1% of that amount (i.e., US$8.43 billion = CAD$11 billion) was sourced from white collar crime in China and found it’s way into the Vancouver market, it would have an outsize impact given it represents almost 30% of the annual transaction volume.

While most of the daily blog posts reference the over-leveraged state of the Canadian consumer, you omit the key element of borrowing capacity when discussing the role of money laundering. Until recently the banks and credit unions were more than happy to extend mortgage credit to anyone that could hold a pen in their hand. The impact of the dirty money could easily be magnified by a factor of 2 -3 times when used in conjunction with the conventional borrowing terms available during this period.

As the owner of a wealth management business, I’m certain you are aware that money laundering is a broad concept that encompasses a multitude of strategies besides exchanging cash for chips at a casino. Dismissing the role of dirty money in BC real estate based on the headlines generated by Peter German’s report seems very much out of character for you, Garth. Generally I see you take a more holistic view and acknowledge the multitude of factors impacting a given issue. The simplicity with which you approach and dismiss the role of money laundering in this current mess confounds me.

I sincerely urge you to dedicate a few moment s to reflect and re-consider your perception on the broader role of money laundering on Vancouver real estate. I remain a loyal reader and so greatly appreciate the heart and soul you pour into this blog on a daily basis year after year.

#4 NotLegalAdvice on 07.04.18 at 4:25 pm

The key is finding a partner that is also okay renting. That will bring you true happiness.

#5 Bruce on 07.04.18 at 4:29 pm

As rates rise, houses are going to be lead weights around peoples’ necks.

Those who are liquid and debt free will be thankful they resisted the cry of the banks and the realtors.

#6 Mitchell on 07.04.18 at 4:33 pm

Hey Garth, quick question do you have a link to the blog post discussing leasing versus buying an automobile?

Pro Tip: It would help with your SEO and link equity (rank higher in google) doing internal linking e.g. linking to old content in a relevant way such as your blog post on buying versus leasing.

Thank you
Mitchell

#7 Ace Goodheart on 07.04.18 at 4:37 pm

True. Don’t get into debt.

However as always, owning a house in Canada does not need to involve debt.

Reasons why people buy expensive houses in Canada:

1. Good school zone – this is of course a load of caca. The reason why some schools score higher on standardized testing than others is the tutors. Rich folks tutor their children in everything, resulting in higher standardized test scores. In poorer neighbourhoods no one can afford tutors. So the scores are lower. The teachers are the school and the teachers are the same, rich or poor neighbourhood. They move them around at will. They are all members of the same College. They get their jobs based on seniority, not merit.

Nota bene: if you send your kid to a private school consider: the teachers who work at the private schools are the ones who could not get into the public elementary school boards. The public school board jobs, with their gold plated pensions, annual salary increases going up over 100k, and iron clad benefits plans, are the place to be. The rejects go into the private school system.

If your kid is in a public school, he/she has the best teachers in Ontario, regardless of what neighbourhood you live in.

2. Block parties: this is just nuts. If there is a yearly neighbourhood block party, the price of real estate goes up like by at least a quarter. The realtors (copy right symbol) advertise this on the listing.

Seriously folks. You Don’t even know these people. How lonely are you? Me and the close hood peeps have quarterly beer parties in the shed in my back yard. We get right royally tipsy. There are good times indeed. The folks down the block have a garden party every summer. Oh the stories I could tell about what has happened in their hot tub after the kids were put to bed.

My neighbourhood is one of the lowest rated in Toronto (Mount Dennis). And it is a blast to live there.

We have never had, nor will we likely ever Have, a block party.

3. Prestige. Are you all f’n nuts? Why do people chase This? Nuff said. Only the crazy look for this.

4. Neighbourhood restaurants and cafes. Buy a Presto card. Or drive your car. Paying a million more for a house, so you can walk to a Starbucks, is crazy. We can walk to Bloor West village from our house in Mount Dennis. And we paid 329,000 for our three bedroom house on a 120 foot lot with a backyard like a park. And we paid cash (hey it was only three bucks twenty nine, who wouldn’t pay cash for that?).

People just have to stop living beyond their means. Full stop. Word…….

#8 Stan Brooks on 07.04.18 at 4:48 pm

Nah, the goal of life isn’t a house. It’s liberty, health and the cash to make the most of them. Never surrender your freedom, nor trade it cheaply for some dirt and some debt.

Some of the truest words ever spoken.

The sad part is that borrowing and debt are incentivized by government, CHMC, BoC and other thieves and lairs who effectively rob you of these freedoms, that truly become mission impossible in Canada.

Total failure of authority.

Success is thought, freedom is felt.

So the shepple thinks/is thought that it it successful while it feels subconsciously (there is no consciousness here or brains) that it is not free.

What a sad place this has become.

#9 Stan Brooks on 07.04.18 at 4:57 pm

G.T.,

Can we switch the channel/topic?

It is really getting kind of boring taking about some stupid sheeple up to the eyeballs in debt with frozen brains that is thought of and feels happy by getting cardboard particles homes or glass condos priced at 5-10 times real values in the frozen tundra for over 3 000 articles and 200 times that posts/opinions.

Even the people with half brains have moved on, is it really worth recording for the posterity the chronicles of this societal downfall (how more stupid and surreal can it become beyond T2 and his cannabis legalization? hint: it can….)?

For the record: I am here just to laugh my behind out as it all breaks into pieces.

#10 NotLegalAdvice on 07.04.18 at 5:04 pm

#6 Mitchell on 07.04.18 at 4:33 pm
Hey Garth, quick question do you have a link to the blog post discussing leasing versus buying an automobile?:

http://www.greaterfool.ca/2014/05/07/how-to-ride/

#11 Backwin Birchbush on 07.04.18 at 5:06 pm

Great Job Wilf! Renting, saving a lot of cash, investing and now creating employment for someone who can earn some money and pay taxes. A good, decent Canadian!

#12 Stan Brooks on 07.04.18 at 5:08 pm

#1 waiting on the westcoast on 07.04.18 at 4:14 pm
Amazing how social pressure, good tv marketing and evolutionary desires can make you engage in a mad activity… It’s great to see Wilf and family resist the horniness and see the value of building assets. Congrats!

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

You think that by being prudent you are safe.

Soon you will learn that this is not the case and you will have to pay one way or another.

Normal life in a mental institution is not possible ™

#13 2 Cents Canadian on 07.04.18 at 5:14 pm

There’s huge business in making people feeling inadequate, afraid, and safe. Makes them run faster and faster on their hamster wheels trying to live to society’s expectations. Ridiculous!!! The tiny few who have the guts to quietly live their own lives, perusing their own goals live more fulfilled and enjoyable lives. As Einstein said …. “If you want to live a happy life, tie it to a goal. Not to people or things”.
Look at all the problems in the world …. and with the internet and MSN we get bucket loads of them, often heavily massaged and embellished (just to get clicks to sell Ford trucks and laundry detergent) … now look at which of those problems you can (or are realistically likely) do something about. That should eliminate 99% of them. Now realize that worrying and/or caring has never solved a single problem. Only actions matter …. and if you aren’t prepared to take action ….. go get some ice cream and enjoy your day.

#14 Karl on 07.04.18 at 5:17 pm

Renting a house presents it’s own stresses. We should not pretend that it’s all rainbows and sunshine. Especially when you have a family. Though the no debt part is a tremendous advantage.

#15 Karl on 07.04.18 at 5:19 pm

Also, am I the only one who skips over all the incredibly long comments? They’re like little novels.

#16 2 Cents Canadian on 07.04.18 at 5:31 pm

Success is genuinely and deeply enjoying your life. Regardless of possessions or net worth …. how many people do you know who are really doing that?

#17 NoName on 07.04.18 at 5:34 pm

@BlackSheep

he is saving us from nucilar var… – and that was funny

i am sure that people of NK are saying our leader is saving us from being burned by napalm… you should ketchup with post ww2 history.

history
https://en.wikipedia.org/wiki/Bombing_of_North_Korea_1950-1953

interesting
(North Korea still digging up U.S. bombs 64 years after the war)
https://globalnews.ca/news/3620192/north-korea-digging-up-bombs/

#18 n1tro on 07.04.18 at 5:34 pm

Garth,

Hate to be the bearer of bad news but it turns out you are not worthy of an Order of Canada. Got the letter today from the government saying so. Maybe you need to up your virtue signalling game this year?!

#19 Hooray for common sense on 07.04.18 at 5:35 pm

Oh bravo! Long time lurker, first time commenter. This is exactly what my husband and I (with two kids) are going to do starting September: get a housekeeper. We are not losers because we rent. In fact, we are highly educated and income-wise, firmly in the 1 percent. Instead of getting saddled down by huge mortgage debt (being well-traveled, we know house prices here have no basis in reality), we spend money on our children’s education, and on experiences over things. We rent in a nice location, lease a middle class car and own another second-hand one. We also save a very healthy amount of money every year and are debt free.

#20 Another Deckchair on 07.04.18 at 5:41 pm

Hey Wilf! (ok, Garth, and other blog-dogs)

Related Question:

So, when one sells property, and one wants to keep some fairly liquid $$ to survive another 2008, do you choose

a) High Interest Savings ETF, like PSA,
b) HISA at ones’ bank,
c) the mattress and gold bars,
d) laddered bonds and/or GICs,
e) ???
f) combinations of the above?

I’m thinking of putting some into PSA, but not sure, still doing my research, especially transaction fees for buying/selling.

Hmmm… ;-)

#21 Doug t on 07.04.18 at 5:44 pm

Who ever said “money can’t buy happiness” was full of bs

RATM

#22 Guy in Calgary on 07.04.18 at 5:45 pm

I have cleaners as well. Come once every 2 weeks for 2 hours for $98 bi-weekly. Still have to upkeep some things especially with 2 dogs but having the weekend to camp, hike, bike, kayak and spend time with friends is way better then having to devote a day to cleaning.

It’s the little things.

#23 Filthy Karl on 07.04.18 at 5:51 pm

Re,#3….parallel,49

Thank you sir.

#24 2 Cents Canadian on 07.04.18 at 5:52 pm

….. to clarify my comment at #13. Usually we can’t take action ….. there are no actions to take. You and I can’t help that there are kids stuck in a cave in Malaysia ….. so “don’t worry!” …. don’t take that problem or pain or empathy upon yourself. Don’t worry that you aren’t as fabulous as the Kardassians (they ain’t that fabulous!). That stress is really bad for your mental and physical health. It’s MSN looking for every possible “emotion stirrer” to get clicks ….. to sell their ads. If there’s one thing the internet is good at its making us feel not good enough, sad and afraid. It’s all crap. Bad things always happen… always have and always will. But there’s WAY MORE good things going on (but they don’t sell trucks so they rarely make the internet) ….. focus on those. Take a deep breath ….. Go outside …. enjoy your day damn it! : )

#25 I’m stupid on 07.04.18 at 5:55 pm

I’m very jealous, I’ve been try to convince my wife to get a cleaning lady for 2 years. She refuses but expects me to do chores.

#26 common sense on 07.04.18 at 5:58 pm

Pursuit of Happiness article on July 4th…what a coincidence.

Are you a closet American Garth?

#27 This Is Easy on 07.04.18 at 6:01 pm

Many a time after school myself and a young woman from Europe would meet around the corner at our local café for a discussion. The secret to life can be found in poetry by William Wordsworth for example, and many others.
” That though the radiance which was so bright be now forever taken from my sight. Though nothing can bring back the hour of splendor in the grass, glory in the flower. We will grieve not, rather find strength in what remains behind. ”
-William Wordsworth

The young woman later in life became a Federal Judge appointed by the PM of Canada.

#28 MSM-Free Zone on 07.04.18 at 6:01 pm

The more governments change, the more they stay the same.

Only a few days into government and Drug Fraud has already sold himself out to special interest lobbyists.

For the sheeple.

#29 Colin on 07.04.18 at 6:03 pm

Also, am I the only one who skips over all the incredibly long comments? They’re like little novels.
———————-

No. Those who post long comments should start their own blog.

#30 boots on the ground in ptown on 07.04.18 at 6:05 pm

Thanks for the pick us up Garth! I intended to interrupt regular programming here by inserting a slice view of south of the border mortgage/lending events w/this article:

yesmagazine.org/new-economy/homeowners-rebellion-could-62-million-homes-be-foreclosure-proof

Since its the 4th. And you mentioned life liberty and the pursuit of happiness and all. Expect mixed opins on it. Yes, predatory lending, but also stupid financial decisions shouldnt be rewarded by overextended homeowners gaining the house free and clear. I have conflicted opinion. Death of banks by their own sword I can however applaud in the very unlikely chances that these events would occur as the author suggests/hopes.

#31 Blacksheep on 07.04.18 at 6:06 pm

Johnny # 106,

“OK here is the bigger picture in case you don’t see it.”

“Trump is being played by Putin and Kim Jung. Putin is an Ex KGB agent, he is a crafty fox and Trump is putty in his hands.”

“Putin has had as many people assassinated as Trump has had in his cabinet. I don’t hear Donald talking about Crimea? Kim played him out while talking denuclearization in Singapore he was quietly building up armament facilities in North Korea.”
——————————
It’s OK Johnny, you don’t need to feel afraid. You and many, many others have been manipulated all your lives for a purpose and that purpose is fear. May I respectfully suggest that you turn off CNN and try thinking for yourself a bit more, funny you seem too intelligent to buy this obvious propaganda, yet here we are.

Let me guess: The US / NATO, should be building up arms around the “Russian threat” before it’s too late!!!

This is really a ‘careful what you wish for’ deal.

#32 MSM-Free Zone on 07.04.18 at 6:15 pm

#21 Doug t on 07.04.18 at 5:44 pm
“….Who ever said “money can’t buy happiness” was full of bs….”
____________________________________

Maybe, but money can buy endorphins, which any 1%er will tell you, don’t last very long.

#33 Lost...but not leased on 07.04.18 at 6:20 pm

Leasing VERSUS Buying (auto)

For years…we bought ONLY used vehicles(all cash)….for a number of reasons.

This year…we took the plunge and went”NEW”…but via “lease”. We had planned a road trip into the USA (Canada will soon be the 52nd state )and didn’t want any problems..ironically our Cobalt died within 2 weeks of departure.

We had attended the auto show….and was able to access various dealers and compare makes and model.

We live in Richmond, but a dealer in PoCo was who we ended up dealing with. Their REP was awesome…explained all the Pros and Cons of buying versus leasing.

He stated that MOST people are leasing…and detailed how leasing is a better move financially ( less cash and tax outlay), and how one is covered by warranty…the olde “drop off the keys” if things go south. He analogized the matter as walking down a hallway and does one veer to (i)purchase or (ii)lease and which path takes a bigger $$$ hit.

At the end of the lease…we can negotiate an outright purchase or another lease. Only downside is if one exceeds certain mileage and damage incurred during the lease.

Finally…Our mechanic recently retired(approx.60 years old)..saying that vehicles are getting too sophisticated for him to keep up…..which is why leasing is a better move…given the cost of repair will rise.

#34 Long-Time Lurker on 07.04.18 at 6:56 pm

Speaking of liberty and freedom… Happy Fourth of July, Americans! We’ll still be neighbours and hopefully friends long after Trudeau and Trump.

#35 Original Observer on 07.04.18 at 7:02 pm

Money can buy a tremendous amount of happiness, it just doesn’t guarantee it.

#36 Lost...but not leased on 07.04.18 at 7:05 pm

Re: MARIJUANA legalization(=Trojan Horse?)

Op/Eds are leaking out about how the police will be able to not simply request…but D-E-M-A-N-D blood samples of drivers at roadside checks, based on nothing but “suspicion”..and refusal to do so will have SOL consequences.

This,logically, would extrapolate to alcohol and DUI (blood analysis will uncover other alleged “drugs”)…as previously one was able to refuse breathalyzer if one was savvy as to one’s legal rights.

Point is…has Turdeau found a Trojan Horse (via Marijuana) to further erode our rights?

#37 akashic record on 07.04.18 at 7:06 pm

The longer, more libertarian version.

https://www.zerohedge.com/news/2018-07-04/how-make-your-life-declaration-independence

Yes, it is long. So is War and Peace and Ulysses.
Less whining makes you happier.

#38 What can I say about that? on 07.04.18 at 7:08 pm

For the last 10 years, that advice has proven to be financially disastrous for anyone that ever contemplated buying a house in the GTA. Houses will never go back down significantly. The waiting has been a fools game.

The goal of life is not a house. Take your blinders off. – Garth

#39 For those about to flop... on 07.04.18 at 7:08 pm

Recent sale report.

Someone snapped this house up in Delta pretty quick.

Listed June 19th 2018 for 1.19

Sold 7 days ago for asking.

Assessment 1.11

2018-06-19 : $1,199,000

https://www.zolo.ca/delta-real-estate/7635-garrett-drive

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

Feel free to make a donation.

Flop For Fox Fund…

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

#40 Loonie Doctor on 07.04.18 at 7:08 pm

Wilf. If more med students followed you and your wife’s lead, they’d be better off. Having their finances in order would also make them better doctors in the long run. Practicing medicine without the spectre of huge debt or spending beyond your means removes that distraction. It is hard for most to graduate without some significant debt if they don’t have a working spouse, but keeping it to a minimum by not overspending on the elective items is still possible and important.
-LD

#41 Brian1 on 07.04.18 at 7:13 pm

Depressing blog? Here; Combatting the unfairness of feminism in the workplace: There is one way for a man to level the playing field and to further his career. Take for instance the many events that now accept transgenderds in female competitions. These events are currently held in the U.S. where the transgendered males are decimating the competition and they are winning scholarships to mainstream universities.
The thing that a young ambitious man could do is to identify as a transgendered female, then he will be able to compete unfettered and defeat feminism. He may even be able to obtain a position in Trudeau’s cabinet.

#42 Zapstrap on 07.04.18 at 7:13 pm

#25 I’m stupid on 07.04.18 at 5:55 pm

I’m very jealous, I’ve been try to convince my wife to get a cleaning lady for 2 years. She refuses but expects me to do chores.

Ya but … you’re stupid.

#43 Dolce Vita on 07.04.18 at 7:16 pm

“What’s precious”

Why I look forward to reading your Blog every day.

#44 Mattl on 07.04.18 at 7:18 pm

It will never get old reading posters brag about being debt free through an era of very cheap money. Debt can be bad but we just went through ten years of insane residential property and market returns.

The last ten years was literally the worst time in the past 50 to be debt free. Am I supposed to feel like an idiot for borrowing money sub 3% and returning 8-15? My biggest regret is not using more leverage, wife and I are very conservative and it cost us a bunch of upside.

#45 DON on 07.04.18 at 7:26 pm

Sales and price declines in Victoria – aka North Hawaii -listings rising.

Sales falling in Vancouver – aka North Hollywood – listings rising.

Yikes!

‘But nobody saw this coming’ or ‘it was not intentional…who would have thought? Or ‘the government should have warned us’.

The world is shifting again or so it seems. Like navigating an asteroid field. Not me personally’ but Smoking Man…yes.

Where are you now Smokey?

#46 crossbordershopper on 07.04.18 at 7:27 pm

happy 4th to all my american friends, business partners, family.
hopefully by next 4th, all my canadian friends can own the house and save by moving and living your life there. with lower taxes and lower real estate prices you can truely have your cake and eat it too.
god bless america

#47 For those about to flop... on 07.04.18 at 7:30 pm

Recent sale report/Vancouver edition.

This house in Vancouver also went fairly quickly.

417 e 30th Ave,Vancouver.

Listed June 11th 2018 for 1.74

Sold on June 18th for 1.70

Life would be a lot easier for a lot of folk if all recent sales were available in real time…

These two sales the realtor posted the information straight away and now everyone knows.

The good,the bad ,and the ugly,people just want to know…

M44BC

https://www.zolo.ca/vancouver-real-estate/417-east-30th-street

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

Feel free to make a donation.

Flop For Fox Fund…

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

#48 FOUR FINGERS WATSON on 07.04.18 at 7:31 pm

What’s precious ? Relationships. The only true wealth that exists.

#49 Oh Canada on 07.04.18 at 7:32 pm

Is our government incompetent or was a fast one pulled concerning the Trans Mountain Pipeline? Trudy needs to come clean. There are 43 Indian First Nations, and we were told 41 signed an agreement, but an investigation disputes this all. Canada’s pipeline is worthless if one First Nation stops this in court. There are 140 First Nation Bands, and 85 of them said we signed nothing! One young woman held up a sign for Trudy – No consent your pipeline doesn’t get laid!

#50 FOUR FINGERS WATSON on 07.04.18 at 7:37 pm

#41 Brian1 on 07.04.18 at 7:13 pm
Depressing blog? Here; Combatting the unfairness of feminism in the workplace: There is one way for a man to level the playing field and to further his career. Take for instance the many events that now accept transgenderds in female competitions. These events are currently held in the U.S. where the transgendered males are decimating the competition and they are winning scholarships to mainstream universities.
The thing that a young ambitious man could do is to identify as a transgendered female, then he will be able to compete unfettered and defeat feminism. He may even be able to obtain a position in Trudeau’s cabinet.
………………………

Dude. That’s not very fallopian of you. Take a deep breath, in with the good air, out with the bad……

#51 crowdedelevatorfartz on 07.04.18 at 7:38 pm

@#39 Brian1
“Take for instance the many events that now accept transgenderds in female competitions. These events are currently held in the U.S……”
+++++
Uh, ya might want to Google “East German womens olympic teams from the 1970’s”

http://www.google.ca/url?url=http://www.newsweek.com/2014/06/13/east-germanys-steroid-shame-253840.html&rct=j&frm=1&q=&esrc=s&sa=U&ved=0ahUKEwiK2cLFzIbcAhWwHzQIHZ1wApkQFghVMBQ&usg=AOvVaw3OJVi9mtlyFUXpDVtLcvzl

Hormone manipulation in sport has be going on for decades….

#52 Long-Time Lurker on 07.04.18 at 7:40 pm

#20 Another Deckchair on 07.04.18 at 5:41 pm
Hey Wilf! (ok, Garth, and other blog-dogs)

Related Question:

So, when one sells property, and one wants to keep some fairly liquid $$ to survive another 2008, do you choose

a) High Interest Savings ETF, like PSA,
b) HISA at ones’ bank,
c) the mattress and gold bars,
d) laddered bonds and/or GICs,
e) ???
f) combinations of the above?

I’m thinking of putting some into PSA, but not sure, still doing my research, especially transaction fees for buying/selling.

Hmmm… ;-)

I was thinking along these lines this all weekend:

a) High Interest Savings ETF, like PSA = I didn’t look into this.
b) HISA at ones’ bank, = Low %
c) the mattress and gold bars, = Need a good safe. Gold just dropped $100USD/oz last month.
d) laddered bonds and/or GICs, = This.
e) ???
f) combinations of the above?

#53 Reximus on 07.04.18 at 7:40 pm

Lol…I doubt I could afford to rent my own house

#54 Flat Earth Society on 07.04.18 at 7:44 pm

Hate to break it to everyone, but there is far more to happiness than avoiding a mortgage for today’s young people.

Rule #1 is still avoiding unnecessary debt. But there are some other rules.

Rule #2 expect to be mobile. With all the economic changes expected in the future, you need to be able to go where the job is.

Rule #3 if you can get a “work from home” gig, take it, even if it’s less money that an equivalent office job. More important than how much you’ll save on transport, clothes, and lunch money is the fact that if your partner has to move for work chances are you can take your job with you. Also, if you decide to relocate to the lake for the summer all you need is WiFi.

Rule #4 live cheap. Do you really need an SUV when a hatchback is nearly as functional? Save your money for fun stuff like bikes and canoes (which can be fitted on a hatchback just fine). Unless you are a carpenter, get your tools from Harbor Freight. Chances are you are only going to use the thing once a year anyway.

Rule #5 don’t be an ideologue. Nobody knows what they think they know including you. You have to be a pretty smart dude to make even a slight improvement to society but anybody can figure out how to wreck it.

Rule # 6 you don’t have to have children. Yes, your parents expect it of you, but the world doesn’t care. It doesn’t need your kids. Having kids is a strictly narcissistic affair at this point, you only have them if you want them. Raising a child properly is a nearly life long commitment and you have to be in a fairly good financial place to do it properly. So don’t do it unless you really want to and have the means.

Rule #7 don’t use student loans to get an education unless it’s in STEM (Science, technology, engineering, math) or something else that leads to a job like law, education, or the trades. If you have the means to get an Arts degree without loans by all means do, but if you use loans don’t expect to ever be able to pay them off.

Rule #8 ignore your mom’s advice (and pretty much everyone else but me and Garth). When people give advice, normally what they are doing is either trying to manipulate you into doing what they want you to do, or self-affirming their own decisions. I’m not saying mom’s advice is bad, it may well be wonderful. But since the possibility is there that it isn’t right for you, if you feel pressure to do something you aren’t sure about then don’t do it.

Rule #9 Divorce happens. If it happens to you don’t let it devastate you. This too shall pass.

Rule #10 don’t marry unless the terms are reasonable because of rule #9. No trophy wives, spouses who don’t work, etc. It’s a lot easier to give up half your house in divorce if you know your spouse paid for half of it anyway.

Rule #11 don’t get addicted to gambling or drugs. If you think student loans are bad, try that.

Rule #12 get a dog, preferably a rescue dog, and take it for walks. Nothing in life seems all that bad when you take a dog for a walk at the off leash park.

There. Jordan can eat my dust.

#55 akashic record on 07.04.18 at 7:44 pm

Air conditioning is precious.

Just fixed mine this morning, after not finding anyone who knows or willing to come and service LG. So you dig up online service manual, brush up on reading schematic diagram, wiring, pcb boards, just to find out LG won’t sell you parts and all the other Canadian suppliers are “temporarily out of stock”, estimated minimum order time 10-14 days. On-demand supply chain, eh?

Thank G_d for America, the land of opportunities, where you can still do it.

Not all rosy though, for some reason it took extra begging to deviate from the only delivery method to Canada, by US Postal Service / Canada Post, ETA 5-10 days. Even begging and pulling credit card would not budge them to venture into Fedex overnight. The 2-day service would bump into Saturday and Canada Day, of course. Calling Fedex on Thursday, name your price to deliver the package to me on Friday, since the box is sitting in Mississauga already. They would not. Not for begging, not for money. But since I am on the phone, I can pay for duty. NAFTA, “free trade” for the masses, anyone?

Anyway – it’s happy end this morning. When next time a poor mouse sets up residence on top of the main pcb board, until gets electrocuted, because LG wouldn’t spend an extra 50 cents to cover the electronics, I will know what to do right away.

Air conditioning and the freedom to figure out how to get sh!t work is precious.

#56 Average Joe on 07.04.18 at 7:46 pm

Parallel49 on 07.04.18 at 4:20 pm : Well said. Can’t entirely ignore the possibility/probability.

Karl on 07.04.18 at 5:17 pm : Yes. I just suffered through the hottest long weekend in years while my landlord negotiated with an HVAC contractor.

MSM-Free Zone on 07.04.18 at 6:01 pm: The best argument against democracy is a 5-minute conversation with the average voter – Winston Churchill.

To buy or not to buy is a personal decision that is multi-faceted. It isn’t the debt that’s itself the problem. It is the (laissez-faire) attitude towards debt that is the problem.

#57 Long-Time Lurker on 07.04.18 at 7:48 pm

$50 usd, last month.
$100 usd from around April.
Gold dropped per oz.

#58 Triplenet on 07.04.18 at 7:50 pm

#25
My wife does the housework every Saturday morning while I golf.
I call it “chore-play”.

#59 Lost...but not leased on 07.04.18 at 7:56 pm

The RE issue,IMHO…. boils down to the following:

(i) Renting..on the one hand shields one from debt slavery than owning VERSUS uncertainty of “certainty”=?!?.(landlord can sell….eviction etc.)

(ii)Owning …on the one hand creates more certainty than renting (in short term)but at what long term cost? ( SHTF=SOL? )

#60 Jimer on 07.04.18 at 8:00 pm

#36 Lost…but not leased
THC DUI blood draws wont matter at the Supreme Court level until authorities can find actual scientific proof cannabis impairs driving. The Reeffer Maddness argument will not hold up in a Court at Law.

#61 akashic record on 07.04.18 at 8:02 pm

#36 Lost…but not leased on 07.04.18 at 7:05 pm

how the police will be able to not simply request…but D-E-M-A-N-D blood samples of drivers at roadside checks, based on nothing but “suspicion”.

I am not sure how roadside blood sample by police works, but sounds like potential open invitation to 10 million dollar compensation law suits for infecting people.

#62 WUL on 07.04.18 at 8:06 pm

To begin, an expression of thanks to you Garth for your efforts. Pathetically, this blog has become an important part of my daily routine and I have learned a lot from you and the commenters here.

In this thread above, there have been a couple of notes on the question of whether or not money can by happiness. It cannot. However, most assuredly it buys a better brand of sadness.

A little while ago there were comments about marrying for money. One time I asked my older sister, who was always quick with a quip, if she would marry for money. Her response:

“You mean there are other reasons?”

Finally, many decades ago American sociologists set out on a study to discover who were the happiest people in the USA. They concluded that the happiest were young, rich and good looking. Go figure.

#63 Jimers on 07.04.18 at 8:11 pm

Other than their socks, they say the easiest way to tell if some one is a narcissist is if they can only see things in black and white, never any grey.

#64 Capt. Serious on 07.04.18 at 8:16 pm

I envy Wilf for marrying a smart woman who is now a doc and is ok with renting. And a Mom. A rare combination.

#65 For those about to flop... on 07.04.18 at 8:24 pm

Hey April,here is the update I was telling you was coming the other day.

June stats pack.

Green line on page 9 shows you the condo action…

M44BC

https://www.rebgv.org/sites/default/files/REBGV-Stats-Pkg-June-2018.pdf

#66 Reality is stark on 07.04.18 at 8:35 pm

To #51.
Just as winning isn’t everything it’s the only thing. Rule #10 isn’t everything in life it’s the only rule of life.
Heed it for guaranteed happiness.

#67 Blacksheep on 07.04.18 at 8:43 pm

No # 17,

#@BlackSheep

“he is saving us from nucilar var..–and that was funny”

“i am sure that people of NK are saying our leader is saving us from being burned by napalm… you should ketchup with post ww2 history.”
—————————–
Let’s not be naive, Trump is ‘saving’ no one.

Trumps playing nice with negatively viewed leaders, to jab a stick in the eye of system, get a feather in his cap for re election, but most importantly make global contacts, with the some of the most powerful people/countries in the world, that the west has yet infiltrate.

How much you want to bet, North Korea, Russia, China and likely Syria, are all in need of Trump hotels and golf courses?

Think family dynasty.

The byproduct of his pursuit is, peace….

I’ll take it anyway I can get it.

#68 BG on 07.04.18 at 8:44 pm

If one of your goals in life is a house and keeping up with the Johns, then why not go in debt to do so after all?

Social status is a primal thing.

#69 theoryAndPractice on 07.04.18 at 8:45 pm

in the order of importance :
1- freedom
2- health
3- wealth
4- everything else

But the definition of 1st and 3rd is very very different for each individual (reality vs perceived).

#70 Lost....but not leased on 07.04.18 at 8:59 pm

To Flop and others:

What will RE prices shake down to in short term(at least in YVR)?

My guess is at minimum 25% haircuts from the peak, and within a year.

NOTE:That’s a very conservative guesstimate based on (i)prices spiked 100+% approx 2 years ago and
(ii) before the economic 9/11 of B20, stress tests etc.

In the 1980’s, haircuts of 100% were more the norm.

#71 Yorkville Renter on 07.04.18 at 9:03 pm

the wife and I are debt-free (we do a small mortgage, registered to a corp, on commercial property we bought), have a 6-figure investment account, a nanny and (obviously) we rent a tremendous place in tony Yorkville.

it allows us to save, spend lots of time with our daughter, and live about as stress-free as any working couple could be.

Life is good.

I would never change that simply to own a place. We derive no pleasure from paying thousands each month just for interest on a mortgage!

#72 tccontrarian on 07.04.18 at 9:05 pm

#54 Flat Earth Society on 07.04.18 at 7:44 pm

“…
There. Jordan can eat my dust.”
—————————————————————
Not bad! But I think JP is ahead by a neck. But not a bad list at all!
Perhaps you can make up a list of how to ‘respond’ to a flat-earth supporter next. You’ve already explained your position so I know you’re not one of them BTW

TCC

#73 Bk on 07.04.18 at 9:08 pm

I can’t speak for areas around Vancouver but in mission where realestate has been hot the last couple years, im seeing big price reductions. Houses asking around 700k are dropping by 50k all the time to maybe eventually sell in the low 600s. My realtor has been sending me the updates. Interesting to see where this is going to go. Well priced nicer houses still sell pretty fast.

#74 ED on 07.04.18 at 9:09 pm

I wonder if high testosterone (in men & women) drives the house myth too?

https://www.theverge.com/2018/7/4/17534124/caltech-testosterone-luxury-status-symbols-study-report

#75 Smoking Man on 07.04.18 at 9:11 pm

DON on 07.04.18 at 7:26 pm
Sales and price declines in Victoria – aka North Hawaii -listings rising.

Sales falling in Vancouver – aka North Hollywood – listings rising.

Yikes!

‘But nobody saw this coming’ or ‘it was not intentional…who would have thought? Or ‘the government should have warned us’.

The world is shifting again or so it seems. Like navigating an asteroid field. Not me personally’ but Smoking Man…yes.

Where are you now Smokey?
……

4th of July Man..Getting wasted with my American Bros. Man these beasts can party. Insane house party today in Newport Beach.
I love it here.

#76 Still in cowtown on 07.04.18 at 9:11 pm

So here is the question: what defines success?

The correct answer: that which brings you happiness, pleasure, joy or (especially) contentment.
_____________________

…yes, perhaps insert ‘long term’ – the substitution of immediate pleasure accompanied by long term remorse, anxiety and worry by sacrificing long term goals and plans is what most people come to regret. Great job Wilf, and freedom is being unafraid of walking out of a ‘job’, job security is the knowledge that you can ‘cross the street’ and get another job/source of income/fulfillment tomorrow.

#77 Debtslavecreator on 07.04.18 at 9:13 pm

# 20/52
If you have a large amount and need to keep it secure to survive a 08 type event I would suggest you do research on ZTS (neo exchange) which owns short term US tresuries but trades in CAD in Canada and will benefit in the highly likely rise in USD vs CAD
Then look at buying an ETF or directly buying short term govt of Canada TBILS
The short term US treasuries will be the last govt bonds to go
Having money in savings accounts in a complete monetary collapse is NOT safe
All things equal if you are worried about an extreme systemic event and need to keep a large amount liquid in the financial system the only option I would research is the direct purchase of short term US treasuries , govt of Canada TBILLs and short term Swiss govt tbills
I would not expect to time things perfectly but if we get into this type of unlikely buy catastrophic event you need to have 95% of your money out of the financial system altogether and invested in a mix of tangible and movable assets
A small paid off home, good land, small amount of physical PMs held in nonbank storage , bottles of highly popular whisky and rum, a paid off or better yet low loan to value mortgage set at a fixed rate on a multi unit rental or multi unit commercial building with good tenants
Either way once the yields begin rising sharply on the shortest govt bond it is likely too late
Those holding on to short term govt paper and savings accounts will meet the financial grim reaper as a collapsed currency and shocking government panic actions outright confiscate what little wealth remains
The vast majority of your money needs to be outside the markets and financial system IF we ever go through this very unlikely mad max collapse
Food and the ability to grow food and fight off hordes of angry and hungry neighbours and friends will be the way to have a chance to survive
Deposit insurance is a FARCE
Look at the CDIC report and check the math
Who cares if they insure 100,000 Canadian pesos ?

#78 Gang Related on 07.04.18 at 9:14 pm

The City of Toronto has been having problems, and the Mayor has pleaded for help; nor do I blame him because its bad for business. They associate these gang problems with turf competition over the selling of drugs. No kidding, and what will happen with weed being legalized because this will add a new formula that has never been seen before. Just mix that with booze on any given day or night. Who is really to blame because this will not end well?

#79 Nonplused on 07.04.18 at 9:17 pm

#63 Jimers on 07.04.18 at 8:11 pm
Other than their socks, they say the easiest way to tell if some one is a narcissist is if they can only see things in black and white, never any grey.

Actually, Jimers, the easiest way to tell if someone is a narcissist is if they happen to be human. Or any other animal for that matter. The only difference between what we might describe as “clinical narcissism” and regular “narcissism” is that the clinical form doesn’t seem to understand that other people also have their own self interest in mind, and things must be negotiated.

The spider does not eat a fly out of “empathy”. Neither do you eat a cow out of “empathy”. You put your own needs and pleasure above that of the cow. We all do.

Unfortunately we do the same thing with other people. Managers are very generous with employees who get the job done, making the manager look good. Employees that don’t get the job done get shown the door.

Socialism doesn’t work and can’t ever work because it doesn’t understand human nature, which can be summed up as thus: “If I get no benefit from working as compared to not working, I’m not working.” Why sweat for nothing? “Well, somebody is benefiting from your work, so it is a benefit”, the socialist might say. But the narcissist in all of us says “why should I be the only one working? I’m not going to work unless everybody does or I get some personal gain.”

It’s as simple as black and white socks (no grey). No pay, no work.

Rarely does anybody do anything for free except virtue signalling. But virtue signalling is all hat and no cattle.

#80 Lost...but not leased on 07.04.18 at 9:20 pm

#60 jimer
#61 akashic record

Re: Marijuana

My basis is “why legalize” ???

My view is that Gov’t is eternally desperate for tax revenue/COMPOUNDED by another mechanism to control the masses.

NOTE:USA already has jurisdiction whereby cops are allegedly trained to assess whether they suspect one is DUI.

In the long run/big picture…Pot will only be sold by deep pocketed corporations….. and likely of the genetically engineered strains for “quality control”.

Summary = Gov’t biggest asset is chaos/fear/intimidation.

#81 VYM on 07.04.18 at 9:22 pm

Anyone else get Vanguard High Div ETF semi-annual report today?

Not very pleased with the results.

No cap gains is bad enough, but a measly 1.63% return in the form of dividend? That would be 3.2% on a yearly base.

How can 3.2% yield be called “high dividend yield?”

I recently simplified my portfolio by replacing individual stocks with this ETF, but seeing how it did, that seems like a mistake.

The prospectus mentioned that peers did +2% over the last 6 month, so +4%.

It’s not the fees though, those are low. I wonder why this result is so bad.

#82 Flat Earth Society on 07.04.18 at 9:27 pm

Nonplused,

Socialists are nothing but adult children that want their parents to continue to pay for everything, and in the event their parents can’t they want the government to take over.

#83 Wait There on 07.04.18 at 9:38 pm

Time is the most expensive resource in life. When you’re young you have lots of it and it seems cheap and inexpensive. As you get older it starts getting scarce and then you begin running out of it and then you have no more. Treasure your time, use it well when you are young and don’t waste it. Investments need lots of time. That will buy you more free time just when you start treasuring it and need it. But start young. If you are not invested when young you will run out of time as you get older.

#84 For those about to flop... on 07.04.18 at 9:53 pm

Lost but not leased on 07.04.18 at 8:59 pm
To Flop and others:

What will RE prices shake down to in short term(at least in YVR)?

My guess is at minimum 25% haircuts from the peak, and within a year.

NOTE:That’s a very conservative guesstimate based on (i)prices spiked 100+% approx 2 years ago and
(ii) before the economic 9/11 of B20, stress tests etc.

In the 1980’s, haircuts of 100% were more the norm.

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

Hey Lost,I try to show what’s going on rather then guess.

I arrived here in early 2002 so it’s been upwards and onwards pretty much the whole time except for the brief pause in 2009.

I did see a listing last night that was picked up for 240k in 1996 and sold for 85k in 1999 just before things really took off.

Straight numbers they took a 65% loss before expenses in 3 years.

I think the house is worth close to million now.

The condo lynchpin appears to be slipping,if that continues then it could be look out below.

I learn as I go and in a way some of my posts are me noticing stuff and recording it.

I think since I have been on the blog I have had three surgeries and plugging away on my project passes the time and stops my brain from turning to mush.

Feels good to give back.

Someone called me Sir the other day.

With what I am doing on here I am more likely to be knifed than knighted…

M44BC

#85 dakkie on 07.04.18 at 9:56 pm

Canada Real Estate Drops! Prices Have Fallen 30% In Some Areas! MASS FAILURE Coming Soon!

http://www.investmentwatchblog.com/canada-real-estate-drops-prices-have-fallen-30-in-some-areas-mass-failure-coming-soon/

#86 Smoking Man on 07.04.18 at 9:57 pm

Judging by to open enthusiasm for Trump today. I’m calling a mid-term landslide for the Republicans. Then next year T2 and his band of virtue signalling misfits go extinct.

#87 Brian1 on 07.04.18 at 9:58 pm

I don’t think #51 and#52 get it.

#88 Wrk.dover on 07.04.18 at 9:59 pm

16 2 Cents Canadian on 07.04.18 at 5:31 pm
Success is genuinely and deeply enjoying your life. Regardless of possessions or net worth …. how many people do you know who are really doing that?

——————————————-

Bingo! Right here! My wife and I. If you ever read my comments a year or two ago you would know we are.

Winning!

#89 april on 07.04.18 at 10:01 pm

#65 – Thanks Flop!

#90 april on 07.04.18 at 10:06 pm

#64 – I would never rent from a private person…never know when they will want you out… better to rent in a rental building…preferably concrete high-rise… less change of it being sold.

#91 Pete on 07.04.18 at 10:08 pm

I blame later idiotic boomers who sheltered their mill’s and bailed them out of everything, and encouraged them to do as they do (spend). My 23 yr has paid off $45k worth of student loans after getting a full-time job with her Science degree. She did NOT buy a BMW or a condo, or even an iPhone. Why you ask?? Because I taught her that loans need to be paid off, and money must be saved before spent. I’m 60 and retired comfortably, and I have no debt. I do what I love – travel, spend time with loved ones, and not work. Enjoy your lives people…it’s too short.

#92 ALFRED E. NEUMAN on 07.04.18 at 10:12 pm

Rare, very high calibre of commenters tonight, Garth.

So few dufuses .. what happened? The idiot posters on vacation, or has the heat blown their shorted circuits?

Anyway, a great post. And I enjoyed every comment.

#93 Pete from St. Cesaire on 07.04.18 at 10:19 pm

Freedom is joy, joy freedom; that’s all ye know on earth and all ye need know.

#94 crowdedelevatorfartz on 07.04.18 at 10:26 pm

@#54 Flat earth

Great List. Thought provoking.

#95 crowdedelevatorfartz on 07.04.18 at 10:29 pm

@ Brian1
“I don’t think #51 and#52 get it.”
+++++
Whats to “get”?
He, she or zher wins a competition based on gender, transgender, or whatever.
Semantics.
No one cares.

#96 Diversified in Oakville on 07.04.18 at 10:29 pm

#29) Agreed on excessively long comments being a waste of time to read. Ditto for anything from Smoking Man.

#97 Oft deleted much maligned stock picker on 07.04.18 at 10:31 pm

Trump will sweep the mid terms in a landslide. Dems are leaderless and directionless. The television antics that Canadians see as a #resistance in the US are nothing but a media illusion. Polls indeed cate Trump at all time highs…58%….higher than Obama ever was. Anyone wishing for. Teump rout in Niv doesn’t read America very well. The economy is exploding….two jobs for every taker. Highest black and Latino numbers ever. Don’t fool yourself.. Trump is winning…..Trudeau is setting Canada up for a disaster by playing the fool. 90% of Canadian jobs are dependent on America. Trudeaus idiocy is popular only in the leftist media…..America loves Trump….a two term president.

And Hey…..wow…..ENB just bought me another couple of years of six months on Maui. Did you know that 70% of the value of China’s stock market is retail investors? What do think that’s gonna do to foreign buyers/owners of VancTO house prices. Sure the fed numbers make it look like it’s nothing….but it’s because they don’t want racism to flare up while so much cash is flooding in. But through proxy buys and shells the real numbers of foreign buyers is huge… and when Chinese stock market losers have to sell Vancouver properties to meet margin calls in Beijing….watch out.

#98 joblo on 07.04.18 at 10:37 pm

Interesting convo with a colleague in Alberta.
Some condo owners in their complex under water (financially, bought top of market) and a nice new special assessment to boot.
They estimate after talking with neighbors possibly 10% will drop the keys in the kitchen and walk. A few already have, who pays the special assessment? certainly not the bank who forecloses?
The unlucky remaining condo owners?

#99 Long-Time Lurker on 07.04.18 at 10:41 pm

#77, debtslavecreator.

Thanks. That’s a Venezuela North scenario there.

#100 Jimers on 07.04.18 at 10:42 pm

#77 Debtslavecreator

Rent Strikes are enough for me to keep rental property out my prepper hoard.

https://www.thespec.com/news-story/8709736-hamilton-rent-strikers-descend-on-landlord-and-tenant-board-hearing/

#101 april on 07.04.18 at 10:58 pm

According to Ross Kay, house sales in Vancouver are “50% down” from what they were in 20/16 and “why would anyone go out and buy a home now”

#102 ANON on 07.04.18 at 10:58 pm

Have things been a little too dark here lately?

Ummm… NO. Definitely NO. The energy aspect is not even factored in the equation, like we’re going to be sending coal/nat gas cars into orbit forever. A ray of sunshine, this blog is :)

#103 The Gin Game on 07.04.18 at 10:58 pm

#83 Wait There – The Gin Game by Donald Coburn was a play drama with two people that explored this all. I had a few discussions with him years ago. This play on any given week is performed somewhere in the world, and is very important to see done live on stage, because it was not only brilliant but made him wealthy.

#104 Yorkville Renter on 07.04.18 at 10:59 pm

#78 – drunk and baked usually means passed out or hungry… also, do you think someone in a gang can’t get weed today? nothing will change on that front.

#105 Jimers on 07.04.18 at 11:37 pm

Now that Congress has opened investigations into the possibly misleading statements of Zuckerburg on Cambridge Analytica, looks like another fake hate(ie. Russian) symbol of the Humpty Dumpty fake MSM is about to be obliterated into dust…

Maybe there is hope for peace in the world.

#106 TRUMP on 07.04.18 at 11:45 pm

I know what a MILF is…..

A WILF is what??

#107 WUL on 07.04.18 at 11:47 pm

I write to make a modest proposal. A monumental flip to assist the youth in this country. Why as an old fart can I look forward to the receipt of $6600 per year of Old Age Security funded from general revenue and not from contributions. But the Geezers will protest “We built this country!” I ask in response, is the Trans Canada Highway paid for yet?

I had my chance. I blew it. Why do I get half price green fees at the golf course, reduced bus pass prices, seniors day at the booze emporium and drug store. It should be changed. from OAS to YAS or Youth Aged Security and the $6600 per annum should be paid to 18 to 25 year olds in Canada.

They are the ones paying for it. Let them reap the benefit. Who is with me? Rise up! I’ll back the youngsters at the barricades.

#108 Flat Earth Society on 07.04.18 at 11:57 pm

#72 tccontrarian on 07.04.18 at 9:05 pm

I am a “flat earth supporter”.

Sometimes it is more important to know what the other person thinks than it is to encourage him to think like you do. Real people who actually fell for our “flat earth” arguments actually exist, and it is important to know they exist, because they can also vote. Same as Antifa, also one of our creations.

It’s a psy-op. And it’s been so successful we don’t even have to hide it anymore, because the victims just say everything else is a psy-op. We’ve been able to collect data on all of them and with relative accuracy evaluate their IQ and potential harm to society. However we can’t really do anything about the fact that they are still allowed to vote other than to distract them with YouTube videos.

#109 For those about to flop... on 07.05.18 at 12:03 am

Pink Lemonade Stand in New Westminster.

Maybe these guys got the memo that condos have possibly topped out.

They decided to cut the fat off and are now down to the bare bone after giving their realtor some tendons and ligaments.

Picked up for 420k in August last year ,it was already flipped once and maybe the condo switch has as well.

We could be flipping the page for the next chapter in Vancouver real estate.

Condo tower toppling over.

Maybe then people will just buy what they can afford without straining every sinew…

M44BC

1206 – 188 Agnes Street,new Westminster.paid 420k August 2017 ass.399

May 8:$549,900
Jul 3: $449,800
Change: – 100100.00 -18%

https://www.rew.ca/properties/R2285099/1206-188-agnes-street-new-westminster-bc

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

Feel free to make a donation.

Flop For Fox Fund…

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

#110 WUL on 07.05.18 at 12:17 am

Apologies in advance, but I could not resist. Headline, article and comments of the year here:

“Naked man driving Canada Post truck causes multi-vehicle crash on Crowchild Trail”

http://www.cbc.ca/news/canada/calgary/naked-man-canada-post-truck-crowchild-crash-1.4734336

Stamped Week in Calgary.

#ballsybacchanailacowtown.

Enjoy. And Turner, your tolerance level is off the charts.

#111 Oft deleted much maligned stock picker on 07.05.18 at 12:25 am

#7 Ace G…..not even a clue about the divide between private and public school. The first measure is “the focus on excellence”. Public schools fight that tooth and nail. The second is “environment ” ….when your kid isn’t in a crap fest of word political ideology and mini wanna be gang bangers they just do better…..every statistic bears that out. When private va public success measures are published as they are every year by real analysts such as The Fraser Institute, public schools don’t even chart.

I was once asked to publicly defend a book I wrote and sold through Chapters, I quoted these stats and others to a district principal . I belly laughed when we bumped into each other on the steps of my sons private school where he had just enrolled his own son into Grade nine for the elite university prep program they offered. I had made a convert and learned that in the fog of propaganda pumped out by the public school unions the truth , once published, will become obvious to even the most fanatic socialists. No….schools are not all equal. I’m not going to pump my book here, it sells very well in the new Canadian community. But because you don’t know, I’ll tell you….schools districts are designed to reflect the community. The SB does not want to dissapont families with failure stats so programs are designed to suit what their demographers see as community expectations. The Surrey BC district for ex graduates less than two percent of students who qualify for university acceptance. Some schools big programs focus on cooking and sub optimal academics. Kids might graduate but the bar is very low….whereas a district like Richmond shows grad stats at 70%…..why?

There’s a lot of info to prove that all schools within a district are not the same and that buying into a better performing cachement can mean the difference and failure for your kid. It’s public information. I just happen to be an analyst who enjoys reading through the noise to find the nuggets. My kid graduated UNI with a masters, teach s excellence at a private school, and believe it or not has a privately managed pension plan equivalent to the public.

#112 Aggy on 07.05.18 at 12:27 am

The word ‘suicide’ caught my attention.

Six years ago, I wrote to you in great despair, from the bottom of a seemingly bottomless abyss. I was a tender innocent at the tender age of 58, in other words, an idiot. Yes, one who briefly could think of no other way out than to end it all. My 5.4% mortgage was due for renewal, and my north-of-the-Fraser condo was valued at far less than I owed on it. I had no savings, thanks to having had to start over from below zero a few years earlier.

And thanks to being clueless with money.

I saw no end to the chains that gripped my velvet handcuffs, one end attached to the bank’s mortgage on a lovely little place that served primarily as a bedroom, the other to a career that gave me enormous stress and a long, arduous commute. I simply could not fathom renewing and working till I was 94. I had lost faith in those who were still adamant that the value would go up and fund my eventual retirement home.

This blog saved my life, if not literally, then in substance. I found strength and a path out from the darkness, blessed thanks to the very sage, somewhat blunt, and incredibly kind advice from our bearded host and from so many dear, dear blog dogs in their comments. They inspired and motivated me.

My attitude to work improved, along with my ability to deliver, because — and I still say thanks to this blog — I was now propelled by realistic goals and a dash of stubborn determination. I viewed the job as being servant to my goals, and not as jailer.

As it is, I came out owing a huge chunk of money, the price of a decent new car. Putting my nose to the grindstone, by mid-2014 I was in the clear and had started my own online investment account.

I rent a cheery suite in an older building closer to work, where, even with the annual increases, I pay just around the 1K mark. (Good luck finding such a “low” rent now, though!) In 2015, I spent under 2K for my first-ever real vacation and experienced old Havana, coming back with a renewed appreciation of getting by on very little and yet always smiling with friends, family, and music. The experience was a very worthy investment that continues to pay immeasurable returns.

Now, here I am, impatient to be 65, dogless for too long (RIP my dear old sidekick), and I’ve decided to go down to part-time already and start walking dogs for my fitness and our (the dogs and my) mutual happiness, maybe travel and house-sit my way across the country while I’m still able. If I can figure out how to afford an RV. I will!

I’ve not quite made it to the magic number (1.5?) that is required for hiring a fee-based advisor. (I’d need to work another year and half… and get stiffer and fatter in the process, from all that sitting.) I’d like to find an advisor anyways, especially as the too-conservative funds that my workplace RRSP holds seem to be hardly performing at all lately. I’m doing far better in my own TFSA. (My own RRSP, not so good, but the preferreds and REITs pay nicely and steadily.) Besides, I’ll need advice about how to move out of the group plan when I finally bid my employer a complete farewell.

To anyone facing economic despair, please remember that life is a grand adventure, not a smooth highway. Explore all kinds of options and alternatives. Read this blog every day. No matter how old you are, it’s never too late to stop being an idiot.

#113 Fortune500 on 07.05.18 at 12:46 am

I have to say, this blog, and even its comment section is a breath of fresh air in Canada’s overly manicured and biased media landscape. Even if people don’t always agree, I appreciate Garth giving a platform for people to do it in. No worries of Trigger warnings, safe spaces, or people being woke or not. I feel it is one of the few bastions of sanity left. For us in the middle anyways …

#114 For those about to flop... on 07.05.18 at 12:50 am

Pink Lemonade Stand in New Westminster.

When researching my previous post I recalled seeing this one had a recent reduction as well ,so I went back to see what their deal was and they are in perhaps more trouble than the original case.

Picked up for 475k in January 2018 the main difference between the two cases is the previous guys have a relatively new product to offload and these guys have one that is a quarter of a century soiled.

The assessment comes in at a lowly 436 compared to the new ask of 499k

Zolo still has condos up year over year in New West and the June stats pack from the real estate board states the New West condos were up 2% last month and one of the more healthier ones.

This could be the leading edge.

Don’t lose it…

M44BC

1206 828 Agnes Street, New Westminster. Paid 475 January 2018 ass 436

Now asking 499k

You don’t see this asking price history often for a condo.

Jul 3, 2018 $499,000 Price Reduced
Jun 21, 2018 $515,000 Price Reduced
Jun 8, 2018 $529,900 Price Reduced
May 25, 2018 $559,900 Price Reduced
Apr 21, 2018 $579,900 Listed For Sale

https://www.zolo.ca/new-westminster-real-estate/828-agnes-street/1206

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

Feel free to make a donation.

Flop For Fox Fund…

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

#115 Andrewt on 07.05.18 at 1:01 am

Latest from Vancouver…

https://www.theglobeandmail.com/business/article-vancouver-housing-sales-drop-as-prices-flatline/

#116 A Yank in BC on 07.05.18 at 2:16 am

#81 VYM on 07.04.18 at 9:22 pm

Sounds like you’re looking for a rose garden. Know what you own. VYM is an ultra large-cap value (think blue-chip stock) indexed etf whose current annual yield of 3.19% considerably outpaces the less than 2% current yield of the S&P 500. Hence the name High Yield. By selling your individual stocks and buying this etf you have likely added diversification to your portfolio and reduced risk. Be happy.

#117 BillyBob on 07.05.18 at 4:31 am

So instead of people buying houses out of a insecure need to fit in, we now have people bragging how happy and well-adjusted they are. Um, yay?

“No, I’M happier than you are”. hahah!

And the kids are stuck in Thailand, not Malaysia. It’s only been on the news for a couple weeks now.

#118 Karl on 07.05.18 at 6:11 am

GTA Sales are up. GTA Prices are up.

Home sales up 2.4% June YOY and up 17.6% from May 2018.

Prices up 2% YOY.

Sorry, Happy Housing Crash Everyone (dirty SHYSTERS, wow that felt surprisingly good).

Source – https://www.cp24.com/news/june-home-sales-slightly-higher-in-the-gta-compared-to-2017-1.4000673

#119 Fortune500 on 07.05.18 at 6:19 am

Looks like average prices are rising again in Toronto. Housing crash averted …

Phewww!

Don’t get too excited about one month’s numbers. – Garth

#120 SimplyPut7 on 07.05.18 at 6:34 am

… the goal of life isn’t a house. It’s liberty, health and the cash to make the most of them. Never surrender your freedom, nor trade it cheaply for some dirt and some debt. Years later you’ll understand what a Faustian foul-up that was.

———————————-
On behalf of the 100,000 condo buyers that have units under construction or about to be built in the GTA.

I think I will keep my million dollar mortgage, investment condos and HELOC filled with crap that have no resale value.

My realtor, their board, and the media told me some foreigner with a suitcase full of money was coming to rescue me from all of my debt as soon as Premier Doug Ford removes the speculator tax.

My plan seems better than your dream of financial independence, freedom, and happiness, so I’m going to hold my breath until that day happens.

Thanks.

#121 Brian1 on 07.05.18 at 7:25 am

#92 Real women care.

#122 dharma bum on 07.05.18 at 7:45 am

#54 Flat Earth Society

I must say, all jokes aside (and for me, that’s a real effort), that your comment today is probably the most accurate and practical pieces of advice that I have ever read (especially on this forum).

I passed it on to my recently married son.

Thanks for that.

#123 Oft deleted much maligned stock.picker on 07.05.18 at 7:46 am

Polls on Democratic Party mid term shot are below a low set in 1938 !! It looks like a complete rout. Meanwhile Trudeau and Butts are trying to wait out Trump….bwahahahaha. With America surging and Canada failing miserably does anyone think Canadians will wrap Gerald Butts and Junior T in our flag ?

The economists who know are aghast that zpoloz might raise rates as our economy is tanking…..news to the contrary is propaganda. It’s Getsld Butts ordering Poloz to put on a brave face to fool Canadians into thinking things are OK…..when they are not. We love Canada Mr Butts but that love does not extend to T2. Any reaction of Canada to tariffs is extremely short lived….Canadians won’t follow Butts into the toilet on behalf of international socialism. It’s bad enough giant steaks are $4 each at Kroger’s in Dallas while lesser cuts are $60 at Superstore.

#124 Howard on 07.05.18 at 7:54 am

Oh dear, the Toronto Star has put up a paywall.

Where will I go for my daily dose of cultural marxism?

#125 Ezzy on 07.05.18 at 8:02 am

#13 2 Cents Canadian

“There’s huge business in making people feeling inadequate, afraid, and safe. ”

Yes.

I argue that is, in fact, the only business and everything else is a product thereof.

#126 Evangeline on 07.05.18 at 8:06 am

#97 … Stockpicker

I’m happy for you wrt Enbridge which has seemed to be in so much trouble over the past years.

Enbridge’s decision to acquire an American company just prior to the start of the Trump economy is turning out to be a great decision, whether by design or accident.

#127 Steve French on 07.05.18 at 8:07 am

Figured out why Smoking Man loves ‘Murica so much.

He can’t think for himself to save his life, and so he fits right in.

https://eand.co/why-cant-you-really-talk-about-america-s-problems-with-americans-a94e7d46be08

#128 Steve French on 07.05.18 at 8:10 am

“Something seems to have short-circuited in the American mind. Smoke is billowing out from it. You just can’t discuss moral concerns with Americans in any reasonable way anymore. They don’t listen. They pretend to, sure — but they’re not hearing you at all. They play dumb — The Look — until you shut up and go away, or provoke them into lashing out.

So they’ve developed a kind of armor, a defensive shield, a set of what we’d call psychologically infantile mechanisms, to allay what should be grave and maybe existentially threatening moral concerns. As in: “if I’m a part of a society that allows this to go on, then, wow, I might be a bad person.”

https://eand.co/why-cant-you-really-talk-about-america-s-problems-with-americans-a94e7d46be08

Jesus… this is describing Smoking Man almost exactly, it’s uncanny!

#129 CJBob on 07.05.18 at 8:12 am

#14 Karl on 07.04.18 at 5:17 pm
Renting a house presents it’s own stresses. We should not pretend that it’s all rainbows and sunshine.
__________________
Exactly. My mother-in-law sold her place last year, not at the peak but at a good price. She found a place to rent that takes pets and settled in. Now 7 months later she has people walking through the place on a regular basis because the owner is looking to sell. This is stressful for most people and especially those in their 70’s.

She rented poorly. Did you not help her, or just come here to whine afterwards? – Garth

#130 crowdedelevatorfartz on 07.05.18 at 8:16 am

@#124 Howard
“Where will I go for my daily dose of cultural marxism?”
++++

The CBC is still free……

#131 Renter's Revenge! on 07.05.18 at 8:29 am

#44 Mattl on 07.04.18 at 7:18 pm
Am I supposed to feel like an idiot for borrowing money sub 3% and returning 8-15? My biggest regret is not using more leverage, wife and I are very conservative and it cost us a bunch of upside.

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

I have similar regrets. I say turn your regrets into wisdom. Now you know what to do the next time there’s an opportunity like that.

#132 Karl on 07.05.18 at 8:34 am

She rented poorly. Did you not help her, or just come here to whine afterwards? – Garth

With all due respect, if people are going to list the many pitfalls of home ownership, surely we should also look at the pitfalls of renting if we are to be balanced.

I have a friend right now who “rented well”, but has to uproot his young family because the owner decided to sell. The kids go to a great school and have lots of friends and he can’t find anything in the general area to rent – he’s stressed out.

Then your friend did not rent well. The same as buying a home abutting people who turn out to be quarrelsome jerks. Do your homework. Get a long-term lease. Include a no-sale, no-showings clause. – Garth

#133 Tony on 07.05.18 at 8:38 am

Re: #98 joblo on 07.04.18 at 10:37 pm

With the exception of Canmore, Alberta all condo owners who bought condos in Alberta since 2004 are underwater.

#134 IHCTD9 on 07.05.18 at 8:42 am

#111 Oft deleted much maligned stock picker on 07.05.18 at 12:25 am

____

Yep. There are a lot more concerns in the Public School system than getting the best teachers and providing the best education. Way too much ideology injected into the curriculum, teacher hirings include factors like race and gender as equal to (or more important than)education. I know several teachers who struggle to keep on working in the public system – it’s less and less about the kids every year, and they are embarrassed to stand in the picket line every time the contract is up and the inevitable strike commences.

The best teachers who really care about the kids and are passionate about teaching want out of the public system, the ones who want the money and are happy to strike want in the public system.

You can trust me on this – I have some very intimate knowledge on this particular subject.

#135 Glengarry Girl on 07.05.18 at 8:46 am

#128 Steve French

Great article, I agree completely, I’m a Canadian, but a US resident for over decade, I know THE LOOK. I have many American friends as I have lived in 7 States and now travel full time in my Travel Trailer, my husbands job is very mobile. My American Friend group are completely divided at this point, those that believe in TRUMP to restore their Country or those that are feeling helpless to what has become of their Country. I have ended friendships with several that I’ve watched transform from what I consider a good person into someone that posts offensive, dangerous and racist rants in support of Trump. It’s unbelievable how quickly this has happened, but both sides agree that America was on a steady decline for the past decade, only benefiting the 1%. Many of the Friends that I have ended my friendships that were the most repulsive fall into the 1% ironically. They all just got a big fat Tax break and that Greed is what’s fueling their support for Trump’s agenda. I’m very scared of what’s coming next and am in a position to decide to leave accordingly.

#136 Brian1 on 07.05.18 at 8:57 am

Thanks for letting me by on that one Garth. I know it might be risky.

#137 Remembrancer on 07.05.18 at 9:01 am

#98 joblo…

Anyone who thinks owning and living in a condo is headache free home ownership hasn’t lived in a condo for long or hasn’t sat in a condo board meeting…

#138 IHCTD9 on 07.05.18 at 9:04 am

#130 crowdedelevatorfartz on 07.05.18 at 8:16 am
@#124 Howard
“Where will I go for my daily dose of cultural marxism?”
++++

The CBC is still free……
_______

The Toronto Tsar is pretty much toast.

#139 Happy Housing Crash Everyone! on 07.05.18 at 9:06 am

Karl on 07.05.18 at 6:11 am
GTA Sales are up. GTA Prices are up.

Home sales up 2.4% June YOY and up 17.6% from May 2018.

Prices up 2% YOY.

Sorry, Happy Housing Crash Everyone (dirty SHYSTERS, wow that felt surprisingly good).

Source – https://www.cp24.com/news/june-home-sales-slightly-higher-in-the-gta-compared-to-2017-1.4000673

——————————————————-
Those SHYSTER sales numbers are useless. They compare last years REVISED SALES to this year INFLATED SALES numbers. You dirty filthy SHYSTERS need to open up MLS and all your lies will be EXPOSED. NOTHING is selling. who are you kidding? You are ONLY lying to yourselves.

#140 Karl on 07.05.18 at 9:12 am

Then your friend did not rent well. The same as buying a home abutting people who turn out to be quarrelsome jerks. Do your homework. Get a long-term lease. Include a no-sale, no-showings clause. – Garth

Those short term lease landlord SHYSTERS! God that feels good to write. Everyone should try it.

#141 Johnnyboy on 07.05.18 at 9:19 am

#31 Blacksheep on 07.04.18 at 6:06 pm

Johnny # 106,

“OK here is the bigger picture in case you don’t see it.”
“Trump is being played by Putin and Kim Jung. Putin is an Ex KGB agent, he is a crafty fox and Trump is putty in his hands.”
“Putin has had as many people assassinated as Trump has had in his cabinet. I don’t hear Donald talking about Crimea? Kim played him out while talking denuclearization in Singapore he was quietly building up armament facilities in North Korea.”
——————————
It’s OK Johnny, you don’t need to feel afraid. You and many, many others have been manipulated all your lives for a purpose and that purpose is fear. May I respectfully suggest that you turn off CNN and try thinking for yourself a bit more, funny you seem too intelligent to buy this obvious propaganda, yet here we are.
Let me guess: The US / NATO, should be building up arms around the “Russian threat” before it’s too late!!!
This is really a ‘careful what you wish for’ deal.
…………………………………………………………………..
Let me ask you one simple question Blacksheep. Have you ever been to Russia? I have been to Russia with my mother to visit her aunt & uncle one last time before they passed away. They lived in what was once a closed city called Zelenograd a suburb of Moscow. CNN has nothing to do with my avowals, I am quite acquainted with how Russians, Russian politics and the Russian organization works. So please don’t presume to tell me about the Russian threat. There is a Russian threat. It never went away it has simply become more subversive. You are really ingenuous when it comes to understanding propaganda. Not the MSM, FOX, CNN stuff here. The propaganda here is a joke compared to the Russians who have become proficient at the manipulation of their own people and are now mastering the influence of other regions of the world. Go to Russia and find a park bench in a large empty space and find a real Russian to ask them about propaganda and how their government functions. Then come back and talk to me.

#142 Happy Housing Crash Everyone! on 07.05.18 at 9:19 am

Home sales dropped 37.3%—the biggest decline since January 2009—in the Greater Toronto Area (GTA) in June 2017 after the Government of Ontario introduced measures to cool the housing market.

The Toronto Real Estate Board (TREB) says there were 7,974 sales in June, down from 12,794 in the same month last year.

While detached house and condo sales dropped by -45.0% and -23.4% respectively, detached house and condo prices still saw gains of 7.8% and 23.2% compared to June 2016.

https://www.zoocasa.com/blog/june-2017-treb-infographic/

SHYSTERS want to cheer about June 2018 sales of 8082 sales? Btw 8082 is the inflated number. LOL SHYSTERS not giving the real picture.

#143 Fish on 07.05.18 at 9:22 am

the old days they called it courting, all red, is it called a date Now???

#144 Slim on 07.05.18 at 9:23 am

Language Expert: Donald Trump’s Way Of Speaking Is ‘Oddly Adolescent’ | The 11th Hour | MSNBC

https://www.youtube.com/watch?v=phsU1vVHOQI&feature=share

I don’t think you need to be a language expert to see that. Adolescents make far more sense.

#145 IHCTD9 on 07.05.18 at 9:25 am

Congratz to Wilf and family for being able to arrive at 40 with no debt as a GTA resident. You are one of hundreds of thousands in doing this.

A part time house cleaner is money well spent. We got one for the years we were having babies. I would forget that we even had one, then Friday I’d come home and the place would be sparkling! It’s the same kind of feeling when you forget all week that Friday is a holiday, then you remember on Thursday :).

Also FWIW, leasing a car isn’t cheaper than buying a clunker and running it into the ground unless you have zero ability to fix it yourself. My last bomber cost me 1300.00 and I drove it for 5 years.

#146 NoName on 07.05.18 at 9:40 am

#134 IHCTD9 on 07.05.18 at 8:42 am

C’mon bulldozer, public school in Canada are just fine, only reason people send kids to private schools are because pear group, easier for kids down the road. I’ve heard horror stories about level over knowledge. If you think that today average parents are feeling entitled, just imagine one with money.

https://i2.wp.com/www.geeksaresexy.net/wp-content/uploads/2011/02/report.jpg

#147 For those about to flop... on 07.05.18 at 9:55 am

Show me the money…

M44BC

“Mapping the Highest-Paid CEO in Every State.

Have you ever wondered how much the highest-paid CEO in your state makes for a living? It turns out that climbing to the top of the corporate ladder can mean dramatically different things in different parts of the country. Our new map breaks down the highest-paid CEOs in each state, letting you easily see total compensation figures and the companies they work for.

We took compensation numbers from the AFL-CIO’s Executive Paywatch project and replaced each state on a map with a photo of the highest-paid chief executive, together with their employer’s logo. We then color-coded each photo to indicate how comparatively high or low their income ranks—the darkest shade represents over $121M; the lightest shade up to $40M. This approach gives you a quick snapshot of the geography of executive compensation across the U.S.

These are the ten states topping the list on our chart with the highest paid CEOs ($M) (all figures represent 2017 compensation totals unless otherwise noted):

1. Florida: Hunter Harrison, $151.1M at CSX Corporation

2. New York: Frank J. Bisignano, $102.2M at First Data Corporation

3. California: Peter P. Gassner, $88.1M (as of 2018) at Veeva Systems

4. Ohio: W. Nicholas Howley, $61M at Transdigm Group

5. North Carolina: Douglas Lebda, $59.6M at LendingTree

6. Massachusetts: Douglas Ingram, $56.9M at Sarepta Therapeutics

7. Georgia: Ronald F. Clarke, $52.6M at FleetCor Technologies

8. Colorado: Gregory B. Maffei, $47.8M at Liberty Interactive Corporation

9. Illinois: Dirk Van De Put, $42.4M at Mondelez International

10. Maryland: David M. Zaslav, $42.2M at Discovery Communications

This first and most obvious thing our map demonstrates is the wide disparity in executive compensation at the top of the corporate ladder. Hunter Harrison from Florida’s CSX Corporation pulled in $151.1M, about 50% more than the second-place earner, Frank Bisignano from First Data at $102.2M. At the opposite end of the spectrum, Kevin Riley “only” makes $1.8M at Montana’s First Interstate BancSystem. Think about it this way: Kevin Riley makes more than 38 times the average American salary of $46,641, but Hunter Harrison made more than 83 times as much as Riley! In short, executive compensation skyrockets depending on a number of factors, but the figures definitely tend to reflect the economic status of the U.S. in general, varying widely based on location.

At a macro level, our map highlights the fact that the highest-paid CEOs are clustered in a select few coastal states. CEOs living along the Atlantic Seaboard generally make the most. In fact, there are only two states west of the Mississippi where the top-paid CEO makes over $40M: Gregory Maffei in Colorado ($47.8M) and Peter Gassner in California ($88.1M as of 2016). Also of note, almost all the CEOs on our map are white men, and only a handful are women. This is additional evidence in support of the hotly-debated gender and diversity pay gap within boardrooms in corporate America.

There are a couple of key caveats to keep in mind. Companies pay their executives with more than just simple cash salaries. The numbers behind our map might include vested company stock, unvested stock, other stock options, private security detail, or the use of a private jet—all these things factor into overall CEO compensation. You may have also noticed that high-profile CEOs like Jeff Bezos, Elon Musk, and Warren Buffett are missing from our list. That’s because they own large parts of their companies, so they don’t take a salary the same way these CEOs do.

Want to learn more? A new SEC ruling now requires companies to disclose the average pay gap between CEOs and workers at each company. Check out our other articles detailing companies with the best and worst pay gaps in the country.”

https://howmuch.net/articles/highest-paid-ceo-in-every-state

#148 gattaca on 07.05.18 at 10:00 am

BC Lions player asks for help navigating Vancouver housing market

He’s been living out of a suitcase ever since he got back to the West Coast. While he’s had trouble finding a place to live before, the 30-year-old said this round has been especially stressful because his family and two young kids have been staying back in Pittsburgh. The six-time CFL all-star noted that some of his teammates are still looking for lodging and in the meantime, they’ve been staying in hotels and Airbnbs.

https://www.sportsnet.ca/football/cfl/lions-player-asks-help-navigating-vancouver-housing-market/

#149 Smoking Man on 07.05.18 at 10:09 am

Glengarry Girl on 07.05.18 at 8:46 am
#128 Steve French

Great article, I agree completely, I’m a Canadian, but a US resident for over decade, I know THE LOOK. I have many American friends as I have lived in 7 States and now travel full time in my Travel Trailer, my husbands job is very mobile. My American Friend group are completely divided at this point, those that believe in TRUMP to restore their Country or those that are feeling helpless to what has become of their Country. I have ended friendships with several that I’ve watched transform from what I consider a good person into someone that posts offensive, dangerous and racist rants in support of Trump. It’s unbelievable how quickly this has happened, but both sides agree that America was on a steady decline for the past decade, only benefiting the 1%. Many of the Friends that I have ended my friendships that were the most repulsive fall into the 1% ironically. They all just got a big fat Tax break and that Greed is what’s fueling their support for Trump’s agenda. I’m very scared of what’s coming next and am in a position to decide to leave.
………

You are suffering from Decorm sensitivity syndrome. Lets face it. The majority of Trump haters dispize the way the guy talks. Brute force masculinity. In a world where the globalist agenda to demasculate males is in every corner of our world. School, MSM etc.
Look how many people the Groper T2. Talks sweat.

But if you can get passed that and realize you are saving more money by deregulation and lower taxes and that jobs and opportunity are going to be in abundance for years to come.

You too can join the #walkaway movement.

#150 TurnerNation on 07.05.18 at 10:17 am

#108 Johnnyboy on 07.04.18 – God bless America?
That god is mammon.
Which is why we’ve seen 100 years of financial scams used in USA and continuing. It’s to be pillaged.
Bubbles, worthless paper, .com and BTC busts, subprime, tax payers money stolen for war-making, worthless analyst rankings, payday loans and endless…..

#151 Dissident on 07.05.18 at 10:18 am

#7 Ace Goodheart on 07.04.18 at 4:37 pm

Sorry dude, you’re cool and all, but you ain’t walkin’ to Bloor West from Mount Denis. Maybe a bus ride or two. I live one subway stop west of Royal York, and even I wouldn’t say I can “walk” to Bloor West. ;)

#152 Dissident on 07.05.18 at 10:23 am

#133 Tony on 07.05.18 at 8:38 am

“Hi, I’m Mike from Canmore…”

https://www.youtube.com/watch?v=qneD11pj4Y0

#153 IHCTD9 on 07.05.18 at 10:25 am

#83 Wait There on 07.04.18 at 9:38 pm
Time is the most expensive resource in life. When you’re young you have lots of it and it seems cheap and inexpensive. As you get older it starts getting scarce and then you begin running out of it and then you have no more. Treasure your time, use it well when you are young and don’t waste it. Investments need lots of time. That will buy you more free time just when you start treasuring it and need it. But start young. If you are not invested when young you will run out of time as you get older.
______

Post of the week right here.

Time horizon is never quite belted into us savagely enough.

There is a sentiment among many youths today where you should be going on fancy vacations and buying houses. Enjoyment of all life has to offer commences immediately upon landing a decent job. This desire for a life of leisure and pleasure currently overpowers even that of reproduction.

The above is setting fire to your most valuable assets, youthful vigour, and time. Blowing your 20’s and 30’s spending and having fun means working till 75 and then praying for a quick death.

It seems less and less understood that the purpose of youth is busting your ass. You can do so only once in your life and when youth is replaced by fragile tired old bones – you can’t go back.

Same with investing, the sacrifice and perseverance of that 25-35 decade makes the 55-65 decade a home run. It pretty much all boils down to getting that first decade of saving going asap. You need 40 years if you’re just a regular working schmoe.

Work hard and live cheap when you’re young and immune to such discomforts. Commit to investing and pay yourself first. You can have fun later and pay in cash. By the time a guy hits 40 and naturally comes to understand all this, it’s waaay too late.

#154 mike from mtl on 07.05.18 at 10:32 am

#81 VYM on 07.04.18 at 9:22 pm

Anyone else get Vanguard High Div ETF semi-annual report today?

Not very pleased with the results.

No cap gains is bad enough, but a measly 1.63% return in the form of dividend? That would be 3.2% on a yearly base.

How can 3.2% yield be called “high dividend yield?”
/////////////////////////////////////////////////////////////////////

Compared to the ZIRP of the last while, 3+% was sky high. Interest bearing bonds were nearly half that. Junk bonds, even now for reasons didn’t offer much risk premium.

Some individual corps offer higher yields than that but not much diversification. Preferreds and especially REITs offer higher yields if that’s all you care about but with equity risk.

No free ride.

#155 Fish on 07.05.18 at 10:48 am

Quote Confucius said, “He who flings dirt loses ground.”

#156 Smoking Man on 07.05.18 at 10:54 am

Very soon people, very soon.

http://notfromearth.co/buzz-aldrin-passes-lie-detector-test-leaving-experts-convinced-alien-life-exists/

#157 TurnerNation on 07.05.18 at 10:54 am

#22 Guy in Calgary cleaning persons charge $50 hour or is some going to an agency? That is skilled professional territory money wise. Put up a few Kijiji or CRaigslist ads or onto FB

#158 what defines success? on 07.05.18 at 10:56 am

contentment indeed

that’s why i own my house

#159 IHCTD9 on 07.05.18 at 11:03 am

#62 WUL on 07.04.18 at 8:06 pm

In this thread above, there have been a couple of notes on the question of whether or not money can by happiness. It cannot. However, most assuredly it buys a better brand of sadness.

A little while ago there were comments about marrying for money. One time I asked my older sister, who was always quick with a quip, if she would marry for money. Her response:

“You mean there are other reasons?”

Finally, many decades ago American sociologists set out on a study to discover who were the happiest people in the USA. They concluded that the happiest were young, rich and good looking. Go figure.
______

A while back, Ms. IHCTD9 pointed out a study to me which I skimmed. It basically found that money does buy happiness – – but only up to the point were you have everything you need without sweating bullets to get it. After that, more money does not make you happier. That seems to jive with my personal experience.

Also, based on other studies, your Sister wasn’t entirely joking.

I’ll have to add, having a purpose and ambition for something in life also ratchets up the happiness and contentment levels.

#160 Correct on 07.05.18 at 11:18 am

#146 No Name – The parents intentionally send their kids to private school for the social formulation of a cabal. This indoctrinates them to discard other kids in society because they see themselves as special. All activities outside the school they do together, and attend the social parties of their parents which is a closed affair. In later life they network together for employment positions and financial opportunity. I have known, and saw this take place, because this is nothing more than a closed inner society.

#161 Sprawl on 07.05.18 at 11:21 am

I’m grateful for the dismal science of your blog Garth. Got to look into the dark corners for hidden road obstacles. I sold my place a couple years back. Largely based on your blog giving conviction to my intuition. My friends would often gas ligh and say “Too bad you had to sell your house and have to rent”. I’d reply I think it’s a good time to sell and rent. I’d often get the incredulous look. But hey all that’s changed Garth! I started using Strava to track my night bike rides. When moving I wanted to find a place close to the Waterfront Trail and hope to ride it full 2,137k length one day. From Montreal to Collingwood on my new $5k e bike. I need to get in shape first and use Strava my easterly night ride is bellow. I post it to FB and those friends who feigned sympathy my selling started to change. “You live there Sprawl!”. Yeah the good part of town, uno a five minute walk to the yacht club. Want know something else? My rent is only a couple of thousand more than my old property taxes. I read your blog for the same reason I follow Nutrition Facts and switched from smoking to vaping. Pictures of smokers lung are grisly as it should be. https://www.strava.com/routes/14120329

#162 Ponnaps on 07.05.18 at 11:36 am

YOGA!!

How appropriate for a blogpost on ” finding happiness, pleasure, joy or (especially) contentment.”

#163 Glengarry Girl on 07.05.18 at 11:42 am

#149 Smoking Man

No delusion here, my eyes are wide open, thing is that your idea of what makes life great and a man masculine and mine are two completely different pictures

#164 IHCTD9 on 07.05.18 at 11:45 am

#145 IHCTD9 on 07.05.18 at 9:25 am

You are one of hundreds of thousands in doing this.
______

That should read like “one in a million” as in very few.

… one IN, not OF.

#165 saskatoon on 07.05.18 at 11:52 am

#134 IHCTD9

public school teachers are not so much passionate about teaching…but are rather passionate about initiating force.

this is how they get paid, after all…through violence.

#166 karlhungus on 07.05.18 at 11:55 am

Garth is right on a lot of things, leasing aint one of them. Ive never seen the numbers work out in favour of leasing.

#167 IHCTD9 on 07.05.18 at 11:57 am

#146 NoName on 07.05.18 at 9:40 am
#134 IHCTD9 on 07.05.18 at 8:42 am

C’mon bulldozer, public school in Canada are just fine, only reason people send kids to private schools are because pear group, easier for kids down the road. I’ve heard horror stories about level over knowledge. If you think that today average parents are feeling entitled, just imagine one with money.

https://i2.wp.com/www.geeksaresexy.net/wp-content/uploads/2011/02/report.jpg
______

I like that comic – it’s true!

Well, growing up; I attended the Public, Separate, and Private systems in Ontario. I also now send my own kids to private schools, and have been involved in the management, administration, finances, and human resources of one of these Private schools. I also have one ex-Public School teacher in my immediate family.

I won’t blither on about what I see in Private Schools as better, but just pointing out I’ve see all 3 systems in Ontario inside and out as much as anyone person probably could. The differences are there, and big.

#168 Office Cleaning on 07.05.18 at 12:11 pm

#157 Turner Nation – I knew this married couple from Woodstock who had a profitable night job that took just a few hours. They signed a contract and were bonded to clean a few professional offices including a bank for example. They made a killing for what little time spent during the week. It paid off the mortgage on the home quickly.

#169 TheDood on 07.05.18 at 12:22 pm

#153 IHCTD9 on 07.05.18 at 10:25 am

Post of the week right here.

_________________________________

If you’re 25 or younger, read the above post and pay very close attention.

#170 Ambition on 07.05.18 at 12:31 pm

Just had a flashback about this young married couple who cleaned offices part-time during the evening. In Woodstock there was this man who collected comic books all wrapped, and had about 5,000 to sell, but didn’t know what to do. This couple were about 30 years old, so went to look at them all, and took along some cash. An offer was made, and they showed him the green (bait), and a deal was made on the cheap. I asked them what now because your on the hook. They also owned a cottage, and the sales of the comic books were highly profitable at a local flea market which over time paid off the other mortgage.

#171 HAWK on 07.05.18 at 12:32 pm

The Global Financial collapse!!!!

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

From time to time, people on the blog and many you tubers sell the idea that a “global financial collapse” will occur particularly centred around the US, that will make the ownership of financial assets worthless, therefore ownership of only hard assets is advisable.

I have a few questions around this:

1. Why would a large corporation (lets say Coca Cola, McDonalds etc) be weaker than an individual to deal with a crisis, should one emerge.

2. Why is there less risk in owning a house, than there is in owning (albeit tiny) part of a corporation that is more powerful than half the countries (I mean each country taken individually) of the world.

3. Why is there less risk in owning physical real estate than there is in owning a REIT that collectively owns multiple commercial properties.

4. Till today whenever financial markets have crashed they have always recovered and emerged stronger, why would this be different in the future.

5. If a collapse occurs how exactly will gold help you purchase essential foods and / or services, ……unless you left your country or region to move to a society that is accustomed to dealing in precious metals etc.

#172 Hawk on 07.05.18 at 12:41 pm

#153 IHCTD9 on 07.05.18 at 10:25 am

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

Good points except that increasingly “busting your butt” to build prosperity in a world where ever more of it is “forcibly redistributed” to others using the endless coercive powers of the state and the mechanism of democracy (ie. voting yourself other people’s property) as the left does, is less appealing to the productive day by day.

For all that you have said to work well, first we need less and less government encroachment on the free market, lower taxes etc, ……….than we might breed more ants and fewer grasshoppers.

#173 Renter's Revenge! on 07.05.18 at 12:43 pm

#169 TheDood on 07.05.18 at 12:22 pm
#153 IHCTD9 on 07.05.18 at 10:25 am

Post of the week right here.

_________________________________

If you’re 25 or younger, read the above post and pay very close attention.

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

Agreed. Age 25 to 35 is *premium* time for saving and investing.

And there are lots of ways to enjoy life without spending a lot of money. It just takes a little imagination.

#174 IHCTD9 on 07.05.18 at 12:43 pm

#160 Correct on 07.05.18 at 11:18 am
#146 No Name – The parents intentionally send their kids to private school for the social formulation of a cabal. This indoctrinates them to discard other kids in society because they see themselves as special. All activities outside the school they do together, and attend the social parties of their parents which is a closed affair. In later life they network together for employment positions and financial opportunity. I have known, and saw this take place, because this is nothing more than a closed inner society.
___________________________

Remember that TV series in the 80’s called “V” staring Marc Singer?

Well that’s us. We can’t have our young lizardlings being educated and employed alongside you inferior human subspecies, so we created “Private Schools” as a cover.

We parents regularly lecture at the Skull and Bones club, and to various members of the NWO preparing groundwork for the upcoming tribulation.

Our young soldiers will soon ready to carry out the job we came here to do…

#175 IHCTD9 on 07.05.18 at 12:50 pm

#157 TurnerNation on 07.05.18 at 10:54 am
#22 Guy in Calgary cleaning persons charge $50 hour or is some going to an agency? That is skilled professional territory money wise. Put up a few Kijiji or CRaigslist ads or onto FB
__________________________

Sounds about right – IIRC we paid 30.00/hr 17 years ago. No agency involved, she put that money straight into her pocket.

She was awesome to have coming in, but she and her husband ran into some financial problems, lost their house, and moved away. We never got another.

#176 Ubul on 07.05.18 at 12:57 pm

#166 karlhungus on 07.05.18 at 11:55 am

Garth is right on a lot of things, leasing aint one of them. Ive never seen the numbers work out in favour of leasing.

It makes sense if you are a business and the money you save would be collected from you as tax.

#177 Fish on 07.05.18 at 12:59 pm

Definition of wacko

: a person who is wacky; also : psycho

also could be known as a Nutter or Nutt Bar

#178 Pork Cycle on 07.05.18 at 1:07 pm

Classic Pork Cycle?

https://twitter.com/yvrhousing/status/1014892234808832007?s=21

So much is about to get dumped onto the market, at a time when buyers have retreated.

#179 James on 07.05.18 at 1:18 pm

#171 HAWK on 07.05.18 at 12:32 pm

The Global Financial collapse!!!!

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

From time to time, people on the blog and many you tubers sell the idea that a “global financial collapse” will occur particularly centred around the US, that will make the ownership of financial assets worthless, therefore ownership of only hard assets is advisable.

I have a few questions around this:

1. Why would a large corporation (lets say Coca Cola, McDonalds etc) be weaker than an individual to deal with a crisis, should one emerge.

2. Why is there less risk in owning a house, than there is in owning (albeit tiny) part of a corporation that is more powerful than half the countries (I mean each country taken individually) of the world.

3. Why is there less risk in owning physical real estate than there is in owning a REIT that collectively owns multiple commercial properties.

4. Till today whenever financial markets have crashed they have always recovered and emerged stronger, why would this be different in the future.

5. If a collapse occurs how exactly will gold help you purchase essential foods and / or services, ……unless you left your country or region to move to a society that is accustomed to dealing in precious metals etc.
………………………………………………………………
The worst item you could own in a crash IMHO is a high rise condo. You don’t actually own anything other than the right to occupy that space. Who in their right mind would buy into a condo during a downturn of that nature. You can not even grow a scrap of food or raise a chicken. Your doomed. At least in a SFH you have a small piece of land. But then again it does free up space when everyone vacates for greener pastures in the hinterland. :)

#180 Fish on 07.05.18 at 1:20 pm

IF I REMEMBER correctly it was Clint Eastwood that
Said ” Nobody puts ketchup on a Hot dog ”

Will you please go and lie down? – Garth

#181 MaxBerniersShorts on 07.05.18 at 1:28 pm

#3 Parallel 49
Thank you. Very well stated.

#182 NoName on 07.05.18 at 1:37 pm

@174 IHCTD9

I’ll aks my doc, he is somewhere higher up to food chain of that world over throwing one world government we rulle from.shadows type of thing. I wonder how and when “they” came about that exclusivity club of his. It seems to work exactly as I described, because he told me so, he did sent kids to public school, don’t know why most likely because he is scotchish.

#183 Hawk on 07.05.18 at 1:49 pm

#179 James on 07.05.18 at 1:18 pm

Agreed, plus the ever increasing “maintenance fees” that one has no control over.

Although rare, there are some units with fees so high, they pretty much amount to a small mortgage.

#184 Happy Housing Crash Everyone! on 07.05.18 at 2:09 pm

Happy Housing Crash Everyone! on 07.05.18 at 9:19 am
Home sales dropped 37.3%—the biggest decline since January 2009—in the Greater Toronto Area (GTA) in June 2017 after the Government of Ontario introduced measures to cool the housing market.

The Toronto Real Estate Board (TREB) says there were 7,974 sales in June, down from 12,794 in the same month last year.

While detached house and condo sales dropped by -45.0% and -23.4% respectively, detached house and condo prices still saw gains of 7.8% and 23.2% compared to June 2016.

https://www.zoocasa.com/blog/june-2017-treb-infographic/

SHYSTERS want to cheer about June 2018 sales of 8082 sales? Btw 8082 is the inflated number. LOL SHYSTERS not giving the real picture.
—————————————-

What happened? No comment? Tell us how sales are so great

#185 IHCTD9 on 07.05.18 at 2:21 pm

#172 Hawk on 07.05.18 at 12:41 pm

Good points except that increasingly “busting your butt” to build prosperity in a world where ever more of it is “forcibly redistributed” to others using the endless coercive powers of the state and the mechanism of democracy (ie. voting yourself other people’s property) as the left does, is less appealing to the productive day by day.
___

Agree 100%. However, when I say “busting your ass” I don’t just mean working a pile of OT – that obviously reaches a point of severe diminishing returns at some point (like -52%).

If you’ve read any of my bilge here in the comments section, then you know I’m big on alternative forms of ass busting. Here are a few real examples in my own life:

1. Fix your own stuff. No labour costs, no taxes paid on services not rendered.

2. Buy “like new, but used” off Kijiji, save off retail, plus no taxes paid. WIN

3. Pump your RRSP’s full, max every option to reduce your taxable income and get a pile of taxes back – The wife and I got near 15K back combined for 2017. WIN

4. Explore Amazon.ca – prices are great if you can wait. I’ve noticed that taxes are seldom collected for whatever reason when buying from the Pacific Rim directly. Freight is free if you set things up right and take your time getting an order together. Save money, avoid tax. WIN

5. Offset taxes and fees. When Wynne put license stickers up for the 2rd time, I sold off my 3rd vehicle (for 200% tax free profits, I bought well on that one.), cancelled the insurance, and did not renew the plate. WINNING.

6. Regulation. I pass on fire permits, building permits, renovation permits, demolition permits, yard sale permits, etc. Only you know what you can do, and what you can’t, and what you can get away with. I save on the costs of the permit, and on future property tax reassessments. YMMV

7. I am making arrangements to eliminate my gasoline consumption 99%. Massive costs and tax savings.

8. There’s always a little work on the side if you’re up for it. I know a fellow who puts 5-6K/summer in his pockets just selling potted plants off the end of his driveway.

9. I built an incinerator years ago that will be upgraded via a downdraft gasification cycle and an incandescent bed of charcoal for breaking down long hydrocarbon chains. These things are very new in the DIY realm, but they are awesome. Burn anything, and I mean ANYTHING combustible with a clean blue flame, no smoke, no smell. It’s almost 100.00/ton to use the landfill in my area. WIN

You can see how sweet a good strategy can be. The above things not only save a pile of costs, but in many cases they totally eliminate 100% of the taxes paid! I like this on an ideological basis – I’m not down with the stuff Wynne was using my cash for, and Trudeau just straight burns it, not giving a rip if a single dollar ever helped anyone. Someone else can cover it IMHO.

#186 James on 07.05.18 at 2:28 pm

#156 Smoking Man on 07.05.18 at 10:54 am

Very soon people, very soon.

http://notfromearth.co/buzz-aldrin-passes-lie-detector-test-leaving-experts-convinced-alien-life-exists/
__________________________________________
Now I have to kick myself in the ass for taking the bait and looking. Smoking Man why are you looking for aliens when you clearly identify yourself as an alien. To be exact you living in Corona Del Mar makes you an illegal alien. BTW there are no rental apartments in Corona Del Mar. I lived down there many years ago. The nearest apartment rentals are Baywood up by MacArthur blvd and San Joaquin blvd in Newport Beach. So unless your shelling out $6K to $8K per month your BS-ing us about Corona Del Mar.

#187 Blacksheep on 07.05.18 at 2:32 pm

Johnny # 141,

“There is a Russian threat.”

“The propaganda here is a joke compared to the ******** who have become proficient at the manipulation of their own people and are now mastering the influence of other regions of the world.”

“Then come back and talk to me.”
——————————
The “Russian threat” you speak of may well apply, to the citizenry of Russia. You clearly, would know better about that, than I.

Thing is, I live in Canada and my concerns are for the maintenance of global peace. (It’s about me & mine, have you not been paying attention?)

Speaking of propaganda, when you review the names and misdoings of the “threats” you’ve been describing in the past few days, one realizes, you fail to even acknowledge, never mind include the misdeeds of the US of A in the past century.

I could get into some of the dozens of documented wrongdoings (repeated unprovoked invasion of sovereign nations + regime change = weapons of mass destruction) of our southern neighbor in the past century, but to what end?

It is, what it is, but this of course does not fit with your indoctrinated view:

“God Bless America”

I honestly believe the USA is currently a greater “threat” to global security, than any other superpower. They are slowly loosing their economic dominance via currency hegemony (global pool to distribute US $ inflation) enjoyed since the WW2.

This, may be worth going to war to try and maintain.

Disclaimer: I am very aware of the multitude of benefits we receive, as the USA’s, little brother and am very thankful to be located next to this global power house, even with all its flaws.

Full circle….

So Trumps cruising the planet making nice (business contacts) with bad guys only decreases the odds of a global conflict and that’s something I’m all for.

#188 IHCTD9 on 07.05.18 at 2:43 pm

#173 Renter’s Revenge! on 07.05.18 at 12:43 pm

And there are lots of ways to enjoy life without spending a lot of money. It just takes a little imagination.
______

“Classic” interests like real physical sports, hunting, and fishing can all be done pretty low cost.

I also like ATV’ing which is also cheap after you own the machines . I used to own an old ’03 Honda Fourtrax 350ES that I used for plowing, trailering and trail riding. It used about 2.00/hr worth of fuel on the trails.

I now own a sweet “used but like new” ’14 Grizzly 700SE. That’s a couple tropical vacations worth of cash to buy, but it plows my driveway, hauls stuff for me, and entertains me and the family, AND because it is a YAMAHA – it will do so for the next couple decades with little complaint (unlike the vacations).

#189 Lost...but not leased on 07.05.18 at 2:56 pm

Alien life?

maybe ..but is this a psy-opp canard to deflect attention from the FACT that no- one has landed on the moon?

#190 Wrk.dover on 07.05.18 at 3:32 pm

IHCTD9

Burn anything, and I mean ANYTHING combustible with a clean blue flame, no smoke, no smell.

——————–

You learned science in a private school, right? You should be in T-rumps environment cabinet. (pun there, he hasn’t one)

I was raised on the fringe of the cabal which No Name accurately describes. Some real real, bad bad, evil evil sociopaths were in those various groups that I was parachuted into to play among while growing up.

Dellan Millard comes to mind as a modern day example.

Probably why I prefer to live as a hermit to this day. And why I find people in suits cringe worthy.

#191 jess on 07.05.18 at 3:37 pm

SEC Charges Credit Suisse With FCPA Violations

FOR IMMEDIATE RELEASE
2018-128

Washington D.C., July 5, 2018 —

The Securities and Exchange Commission today announced that Credit Suisse Group AG will pay approximately $30 million to resolve SEC charges that it obtained investment banking business in the Asia-Pacific region by corruptly influencing foreign officials in violation of Foreign Corrupt Practices Act (FCPA).

Credit Suisse also agreed to pay a $47 million criminal penalty to the U.S. Department of Justice.

According to the SEC’s order, several senior Credit Suisse managers in the Asia-Pacific region sought to win business by hiring and promoting individuals connected to government officials as part of a quid pro quo arrangement. While this practice bypassed the firm’s normal hiring process, employees in other Credit Suisse subsidiaries and affiliates were aware of it and in some instances approved these “relationship hires” or “referral hires.” The SEC’s order found that in a seven-year period, Credit Suisse hired more than 100 employees at the request of foreign government officials, resulting in millions of dollars of business revenue.

“Bribery can take many forms, including granting employment to friends and relatives of government officials. Credit Suisse’s practice of engaging in these hiring practices violated the law, and it is now being held to account for having done so,” said Charles Cain, Chief of the SEC Enforcement Division’s FCPA Unit. (sec)

==============
Millennials say no to kids, population ‘replacement level’ turns negative
https://www.washingtonexaminer.com/millennials-say-no-to-kids-population-replace

Nov 15, 2017 – While moms need to have 2.1 births to keep pace with deaths, a number … including Millennials, have been higher than those of the U.S. born.
U.S. Births Dip To 30-Year Low; Fertility Rate Sinks Further Below …
https://www.npr.org/…/u-s-births-falls-to-30-year-low-sending-fertility-rate-to-a-record-l…
May 17, 2018 –

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

#192 James on 07.05.18 at 4:10 pm

Pruitt out!
Scott Pruitt had become a constant source of embarrassment to a president who had entered Washington promising to “Drain the Swamp.”
Pruitt has faced an array of ethical questions about his travel spending, security costs, dealings with industry lobbyists and misuse of government resources.
He had denied wrongdoing in the face of multiple congressional and oversight inquiries.
Despite the scandals, Trump has been approving of Pruitt’s efforts to reduce regulations that the administration says curb business growth. Trump writes on Twitter, “Within the Agency Scott has done an outstanding job.”

Well he just resigned his position.

#193 IHCTD9 on 07.05.18 at 4:13 pm

#190 Wrk.dover on 07.05.18 at 3:32 pm
IHCTD9

Burn anything, and I mean ANYTHING combustible with a clean blue flame, no smoke, no smell.

——————–

You learned science in a private school, right? You should be in T-rumps environment cabinet. (pun there, he hasn’t one)

I was raised on the fringe of the cabal which No Name accurately describes. Some real real, bad bad, evil evil sociopaths were in those various groups that I was parachuted into to play among while growing up.

Dellan Millard comes to mind as a modern day example.

Probably why I prefer to live as a hermit to this day. And why I find people in suits cringe worthy.
_______

I learned Science in a public school, a Catholic School, and a Private School.

The incinerator I’m building burns as clean as natural gas (because that’s what it essentially is at that point). It should theoretically be engine grade gas too – so some interesting possibilities.

As for my kids private cabal education – it’s great, and they’re both doing awesome. The students almost all have great upbringings, solid finances, solid traditional parenting, and a virtually problem free social landscape.

That is good enough for me.

#194 IHCTD9 on 07.05.18 at 5:47 pm

#182 NoName on 07.05.18 at 1:37 pm
@174 IHCTD9

…he did sent kids to public school, don’t know why most likely because he is scotchish

—-

Ha! Well, I am 100% Dutch blood (ie. even cheaper than Scottish!).

#195 Oft deleted much maligned stock.picker on 07.05.18 at 11:45 pm

#160 Correct….
The political and ideological leftist brainwashing in public schools is sickening…and avoidable. You don’t have to flush your child down that toilet….you choose to out of greedy self interest. You’re likely leasing your child’s tuition to private school and future success….shame on you.

Yes, private school is clubby….so what? Would you rather have you child badgered by pc nonsense every day for the benefit of sexually predatory focused pedophile wolves, or be assisted in focusing on doing thier best in an enviornment where the pursuit of excellence is the credo?

#196 Buttercup on 07.06.18 at 5:30 am

Garth, Thanks, it is wonderful to showcase some of the good Stories. There is another path people!

“#20 Another Deckchair on 07.04.18 at 5:41 pm
Hey Wilf! (ok, Garth, and other blog-dogs)

Related Question:

So, when one sells property, and one wants to keep some fairly liquid $$ to survive another 2008, do you choose

a) High Interest Savings ETF, like PSA,
b) HISA at ones’ bank,
c) the mattress and gold bars,
d) laddered bonds and/or GICs,
e) ???
f) combinations of the above?

I’m thinking of putting some into PSA, but not sure, still doing my research, especially transaction fees for buying/selling.

Hmmm… ;-)”
———————————————–
We use the following:
–HISA as needed to fund 1 year spending goals.
–Short term deposits.
–PSA is a good parking spot, but fees can have an impact.
–Short-term (cough) Cdn bond ETF like XSB.
–Consider the Utilities ETF ZUT. Under loved = cheap and a better yield.
–Preferred shares ETF perhaps?
Depends on your risk tolerance and time horizon.
Good luck with your plans!