Massaged

There are more than 50,000 realtors in the GTA. It looks 80% of them made nothing last month. Of course, you’d never know it from the swill the real estate cartel dished out on the Friday before a summer long weekend.

Toronto Real Estate Board President Garry Bhaura announced strong growth in the number of home sales and the average selling price reported by Greater Toronto Area REALTORS® in July 2018.
Residential sales reported through TREB’s MLS® System for July 2018 amounted to 6,961 – up 18.6 per cent compared to July 2017.  Over the same period, the average selling price was up by 4.8 per cent to $782,129, including a moderate increase for detached home types.  New listings in July 2018 were down by 1.8 per cent year-over-year.
The MLS® Home Price Index (HPI) Composite Benchmark for July 2018 was down slightly compared to July 2017.  However, the annual growth rate looks to be trending toward positive territory in the near future.
“We have certainly experienced an increase in demand for ownership housing so far this summer.  It appears that some people who initially moved to the sidelines due to the psychological impact of the Fair Housing Plan and changes to mortgage lending guidelines have re-entered the market.  Home buyers in the GTA recognize that ownership housing is a quality long-term investment,” said Jason Mercer, TREB’s Director of Market Analysis.

Well, that sounds encouraging. Until you look under the kilt.

Like YVR, this is not a healthy market. That ‘strong growth’ in sales is actually a plunge from the previous month, when almost 8,100 units changed hands. The 14% drop in a few weeks is significant: July sales were the weakest since back in February. So much for “an increase in demand.”

By the way, for 2018 to date, sales in the massive GTA market have declined more than 22% from the first six months in 2017 – which included the big drop following Ontario’s bombshell Fair Housing Plan announcement. In other words, demand has weakened substantially from last year to this one, and from June to July. Pig. Lipstick.

But what of prices, you cry?

Don’t actually believe what the monthly reports spit out. Look at the stats. So far in 2018 the average detached house in the 6ix has lost 10% of its value, while in 905 it is 12% less. Sales of single homes are lower by 27%. Condo sales have dropped in the GTA by more than 19%, but the stress test has pushed condo prices higher – 7.5%. It’s the same story as on the Left Coast as buyers retreat, detached properties lose altitude, yet fist-time buyers inflate the cost of hi-rise boxes after being shut out of purchasing a traditional home.

Always remember that real estate boards are run by realtors and dominated by the big marketing outfits – Royal LePage, Re/Max and Century21, for example. The statistics they publish are not regulated nor independently verified. The Toronto board has gone through the entire judicial system trying to prevent transparency, fighting the federal government’s competition watchdog which alleges consumers are being blinded to vital market information. Unlike the stock market, where regulation is intense and trading data pristine, the real estate market operates in a shadowy world riddled with undisclosed conflicts of interest.

Meanwhile the numbers are staggering. In the GTA alone last year 92,400 properties changed hands. The average selling price was $822,681. Thus citizens did $76 billion in trades. In most of those cases buyers were unable to know the sales history of the property they were purchasing nor the market activity surrounding it. Nobody would buy a stock that way, let alone one worth $822,681.

Let’s hope realtors are not massaging the numbers the way they’re twisting the message. That would be even more terrifying.

100 comments ↓

#1 dakkie on 08.03.18 at 5:00 pm

Global Housing Bubble Is Popping. Here Comes The “Reverse Wealth Effect”

http://www.investmentwatchblog.com/global-housing-bubble-is-popping-here-comes-the-reverse-wealth-effect/

#2 HanMan3000 on 08.03.18 at 5:00 pm

Greetings, blog dogs. July market stats are now posted at http://TorontoRealEstateCharts.com

#3 crowdedelevatorfartz on 08.03.18 at 5:01 pm

A diaper wearing contestant at an e-coli eating competition would have more validity than that TREB report.

Time for the Feds to start slapping these self promoting snake oil salesmen with some truly punative fines?
Class action lawsuit against them all?

#4 FOUR FINGERS WATSON on 08.03.18 at 5:12 pm

#143 crowdedelevatorfartz
If I may add to this discussion since I once owned a cottage on PEI.

PEI was the first province in Canada to bring in “foreign ownership” laws in the early 1970’s due to concerns about wealthy US people snapping up prime acreage for pennies on the dollar.
Anything smaller than 5 acres is easy to purchase but you have to pay double property tax for the privledge.
Hence my 1.5 acre property with a cottage was $850 per year x 2 =$1700/year prpty tax for a place I used 1 month a year..
IF you want to purchase acreage over 5 acres you must submit an application to the PEI Legislature. The non resident app “fee” is 1% of the property sales price. $100 k = $1000 $500k = $5000, etc. and its non-refundable if you lose your application ( rare) you don’t get it back.
Many new foreign owners can step around that by forming a company in PEI that becomes a legal entity(person) in the eyes of the law.
I drove past many a farm property that had been recently sold last Fall that had numbered company names and Chinese characters next to the number.
I spoke with several realtors and lawyers about it and they said it was the busiest Summer and Fall they had ever seen.
No haggling, no financing, ………
Cash, full price or higher.

Make a Law and lawyers and their clients will find a way around it…
…………………………….

Then we agree, PEI has laws that places restrictions and taxes on non resident and foreign property purchases. It is not just B.C….And it seems that from your personal observations that there is always a work around that enables people to beat the system. Which suggests that government statistics that track these things are not worth a pinch of beaver poop. Kinda like the government 2% inflation rate numbers….Which suggests that anyone who claims that foreign money does not influence the Canadian real estate market is out to lunch. Hmmmm…

#5 Gary on 08.03.18 at 5:15 pm

https://homesrealestateforsale.com/nar-reaffirms-they-have-no-credibility-by-reporting-false-increases-in-sales/

https://www.businessinsider.com/existing-home-sales-2011-12

You gotta wonder

#6 Freebird on 08.03.18 at 5:18 pm

Before darkness descends on this comment section… have a great long weekend all.

Oh yeah, and get invested.
Peace and cheers!

#7 NotLegalAdvice on 08.03.18 at 5:21 pm

I’ll never trust a realtor!

Their job is to sell. They work off commission – hell, they live off it!!

I’m annoyed that my wife keeps reading these articles and believing them.

Like the market is tanking and tanking quick it shall!!

#8 Reality is stark on 08.03.18 at 5:27 pm

Any real estate agent I ever met was either a gypsy a tramp or a thief and those were the good ones.
You find people of similar integrity in prison.
The career seems to attract the morally reprehensible.
Trump would have been an ideal agent.

The industry needs closer scrutiny. Do not disparage everyone selling real estate. It’s a tough life living on commission. – Garth

#9 HT on 08.03.18 at 5:31 pm

Information asymmetry only serves to protect and line the pockets of the realtors. Although slower than it should, change is coming – it is inevitable. I hope that realtors are getting “balanced and diversified.”

#10 Brian Ripley on 08.03.18 at 5:39 pm

There are more than 50,000 realtors in the GTA. It looks 80% of them made nothing last month. Garth

My earnings charts are up with the new May data
http://www.chpc.biz/earnings-employment.html

Ontario earnings are up $143/mo M/M and 3% Y/Y.
This could be due to the “Transportation and Warehousing” sector which is consistently one of the biggest employers in Canada every month… presumably because of all the stuff we get from Amazon/Wayfair etal to fill our condos with.

#11 slam on 08.03.18 at 5:41 pm

Is there a good source of data for real estate sales? I stopped trusting the articles posted by real estate boards.

I still think we need our version of zillow.

#12 ts on 08.03.18 at 5:43 pm

Thanks Garth for the great post. That’s why I keep coming back as this is the only reliable source for the truth regarding real estate and investment strategies. Thanks again for all your hard work and advice.

#13 The Real Mark on 08.03.18 at 5:44 pm

#137 Tulips on 08.03.18 at 3:21 pm

Stop making fun of me. My mom doesn’t like it

#14 Fish on 08.03.18 at 5:45 pm

Hot Friday BEAUTIFUL!!!!!!

Thankyou Garth

#15 Kelowna Price Cutting Almost Everything I see on 08.03.18 at 5:56 pm

2897 Weatherhill ROAD West Kelowna – negative $300,000 -16% price reduction

3969 Camano Road, West Kelowna – negative $97,000 -8% price reduction

1092 Barnes Avenue, Kelowna – negative $173,888 -13% price reduction

963 Stockwell Avenue, Kelowna – $76,000 -6% price reduction

#2003 1128 Sunset Drive, Kelowna – $108,000 -8% price reduction

2160 Galiano Road, Kelowna – $90,000 -6% reduction

I can go all day long with these examples. Condos, Townhomes, Detached. New builds. Builder incentive. Price cuts on everything.

Inventory way up.

#16 S.Bby on 08.03.18 at 5:59 pm

Dog licks man:

https://abcnews.go.com/US/wireStory/wisconsin-man-contracts-rare-blood-infection-dog-56985309

#17 Follow the BC Money Laundering Game on 08.03.18 at 6:01 pm

Based on TO real estate charts it looks like the laundered money diverting past BC now is hitting Toronto, Vaughan, Richmond Hill, Mississauga, Brampton (it is the Brampton way), Oakville, Milton, Burlington…and of course: Seattle.

Yo, Doug. What are doing about this?

#18 The Real Mark on 08.03.18 at 6:07 pm

“#1 dakkie on 08.03.18 at 5:00 pm
Global Housing Bubble Is Popping. Here Comes The “Reverse Wealth Effect””

Yup. I’ve called this ‘deflation’, and its been an uphill battle trying to convince those who have gone their whole lives experiencing meaningfully above 0 CPI growth that it is in our future.

But without the demand that is inherent from the borrow and spend cycle that RE has set off, what else will drive Canadian consumers to spend? Little to nothing. When a large chunk of the population is effectively financially imprisoned in their declining equity housing, who will be the big spenders going forward? A relatively small group of bank shareholders and those positioned to benefit from the decline of RE will not, and cannot possibly make up for the large amounts of demand that the “wealth effect” of rising RE prices created.

Worse, not only will the ‘wealth effect’ disappear, but it’ll go into reverse. Instead of a race to borrow as much as possible, there will be a race to pay back as much debt as possible. CAD$ will become very coveted as highly indebted Canadians start buying a lot of them to repay CAD$ debt. Such self-imposed austerity, as well as a rolling over of the USD$ could easily have the CAD$ dramatically higher. Which would create further contagion amongst our exporters who have been some of the only relative bright spots in the economy.

It is for such reasons that the BoC rate hikes have likely run their course. But spreads against residential RE debt probably still can expand, if not on the ‘posted rates’, then at least on the actual rates that actual people are charged. Discounts increasingly will be reserved only for the truly worthy.

#19 AB Boxster on 08.03.18 at 6:08 pm

Realtors are the ultimate perveyors of fake news.

CBC, CNN and most print media as well.

And then the fake news outlets publish the fake news from the real estate boards and this makes it double fake.

It’s a sad testament what media outlets have become.

Once great news organizations like the Washington Post have been reduced to defunding idiots like Acosta.

Or maybe they were never great to begin with and deserve to die in the trash heap of corporations.

Either way, most intelligent news consumers go elsewhere to get their information rather than rely on white hating racistst like Sarah Jeong of the New York Times.

#20 SimonSays on 08.03.18 at 6:11 pm

The industry needs closer scrutiny. Do not disparage everyone selling real estate. It’s a tough life living on commission. – Garth
###################
Yes, but no one put a gun to their head, to living on a commission.

#21 young & foolish on 08.03.18 at 6:13 pm

Toronto rents however …. still too high …. ridiculous!

#22 SimonSays on 08.03.18 at 6:15 pm

#7I’ll never trust a realtor!

Their job is to sell. They work off commission – hell, they live off it!!
######################
Their job is NOT to sell, but to LIE. Realtor’s are the scum of the earth. They are not two faced, they have a 1000 faces!!!

#23 mj on 08.03.18 at 6:17 pm

but.. But.. But.. Real estate agents always say it’s a good time to buy

#24 young & foolish on 08.03.18 at 6:17 pm

So … housing is “not safe” …. in the meantime, share buy-backs at are record levels (how safe does that make balanced & diversified?)

Companies making record profits increasing shareholder value. How is that a bad thing? – Garth

#25 marcus on 08.03.18 at 6:17 pm

So long as Canada is the test ground for the globalists she will suffer immeasurably. Sadly Canadians are far too dumbed down to see they live in a Globalist Ghetto. Nationalism is the answer and diversity is NOT your strength. Tough medicine on its way but the patient may be too far gone.

#26 Stone on 08.03.18 at 6:19 pm

What? Real estate sales are up? Prices are up too? Consumer confidence must be up.

Great! Then, it’s time for another rate hike from the Bank of Canada. Looks like Canadians can easily handle it. And many more to come.

Numbers don’t lie, even when they’re fudged. Isn’t that so?

#27 LP on 08.03.18 at 6:39 pm

#8 Reality is stark on 08.03.18 at 5:27 pm
****************************
You must be a bad judge of character. We used 7 or 8 realtors, men and women, over the years. Five were people of integrity and honour, 2 I don’t remember much about; only 1 was dishonourable and she was a female.

#28 akashic record on 08.03.18 at 7:06 pm

Maybe there is a secret $mil-a-home minimum price government accord to maintain the “social responsibility” for healthy growth in debt slavery at YYZ/YVR.

It maintains the balance at top-secret macro-economic level.

#29 Alberta Ed on 08.03.18 at 7:13 pm

The real estate industry should be regulated as strictly as banks.

#30 Zapstrap on 08.03.18 at 7:19 pm

The last realtor I used is still sending me nice glossy brochures and a Christmas card each year … doesn’t that make him a nice guy?

#31 Mattl on 08.03.18 at 7:23 pm

RE is always measured yoy to reduce impact of seasonality. July was clearly a decent month. Or would it have been better if volume was up over June but down yoy? Sales volume traditionally always comes down June to July. August will be down again and volume back up in September.

It won’t mean the market is hot in September when sales pick up and it doesn’t mean anything that sales volume is down June to July.

This is pretty basic RE 101. Anyone that is commenting on RE should understand this and using spring to summer volume declines as an indicator of market weakness is either ignorant or intentionally misleading.

#32 -=jwk=- on 08.03.18 at 7:26 pm

For those wondering where the DNC and DCCC servers ‘went’ and confused as to how this is related to Manafort trial (hint: It doesn’t. Two different things):

INDICTMENT
The Grand Jury for the District of Columbia charges:
COUNT ONE
(Conspiracy to Commit an Offense Against the United States)
1. In or around 2016, the Russian Federation (“Russia”) operated a military intelligence
agency called the Main Intelligence Directorate of the General Staff (“GRU”). The GRU had
multiple units, including Units 26165 and 74455, engaged in cyber operations that involved the
staged releases of documents stolen through computer intrusions. These units conducted largescale
cyber operations to interfere with the 2
2
2. Defendants [12 Russian names deleted] were GRU officers who knowingly and
intentionally conspired with each other, and with persons known and unknown to the Grand Jury
(collectively the “Conspirators”), to gain unauthorized access (to “hack”) into the computers of
U.S. persons and entities involved in the 2016 U.S. presidential election, steal documents from
those computers, and stage releases of the stolen documents to interfere with the 2016 U.S.
presidential election.
3. Starting in at least March 2016, the Conspirators used a variety of means to hack the email
accounts of volunteers and employees of the U.S. presidential campaign of Hillary Clinton (the
“Clinton Campaign”), including the email account of the Clinton Campaign’s chairman.
4. By in or around April 2016, the Conspirators also hacked into the computer networks of
the Democratic Congressional Campaign Committee (“DCCC”) and the Democratic National
Committee (“DNC”). The Conspirators covertly monitored the computers of dozens of DCCC
and DNC employees, implanted hundreds of files containing malicious computer code
(“malware”), and stole emails and other documents from the DCCC and DNC.
5. By in or around April 2016, the Conspirators began to plan the release of materials stolen
from the Clinton Campaign, DCCC, and DNC.
6. Beginning in or around June 2016, the Conspirators staged and released tens of thousands
of the stolen emails and documents. They did so using fictitious online personas, including
Case 1:18-cr-00215-ABJ Document 1 Filed 07/13/18 Page 2 of 29
3
“DCLeaks” and “Guccifer 2.0.”
7. The Conspirators also used the Guccifer 2.0 persona to release additional stolen documents
through a website maintained by an organization (“Organization 1”), that had previously posted
documents stolen from U.S. persons, entities, and the U.S. government. The Conspirators
continued their U.S. election-interference operations through in or around November 2016.
8. To hide their connections to Russia and the Russian government, the Conspirators used
false identities and made false statements about their identities. To further avoid detection, the
Conspirators used a network of computers located across the world, including in the United States,
and paid for this infrastructure using cryptocurrency.
————

That’s the first 3 pages. The other 26 (double spaced! So more like 13!) are here:

https://www.justice.gov/file/1080281/download

#33 Fish on 08.03.18 at 7:35 pm

@#8 Reality is stark on 08.03.18 at 5:27 pm
Any real estate agent I ever met was either a gypsy a tramp or a thief and those were the good ones.
You find people of similar integrity in prison.
The career seems to attract the morally reprehensible.
Trump would have been an ideal agent.

The industry needs closer scrutiny. Do not disparage everyone selling real estate. It’s a tough life living on commission. – Garth

*************!!!!!’

I agree, Must wait, I know exactly what I’m looking for

Garth not all realitor are good ones

#34 Tony on 08.03.18 at 7:38 pm

Could Trump be trying to take down China to implode the worldwide housing bubble? A falling yuan and falling local stock market leaves less money for the Chinese outside of China.

#35 Fish on 08.03.18 at 7:41 pm

18 The Real Mark on 08.03.18 at 6:07 pm

say again , short form PLease, Thanks

#36 Smoking Man on 08.03.18 at 7:42 pm

25 marcus on 08.03.18 at 6:17 pm
So long as Canada is the test ground for the globalists she will suffer immeasurably. Sadly Canadians are far too dumbed down to see they live in a Globalist Ghetto. Nationalism is the answer and diversity is NOT your strength. Tough medicine on its way but the patient may be too far gone.
……..

Well, put… T2 answers to the Davos club of tyrants and says things that excite the newly schooled dimwitted kids. Appeals to grade 8 kids the most.

Good news is, he’s toast come next year no matter what he does. Butts has been dead quiet since the Danforth shoot up. Must be a massive internal revolt going on right now.

#37 young & foolish on 08.03.18 at 7:51 pm

It’s not just Canada …..

https://www.bloomberg.com/news/articles/2018-07-31/are-house-prices-falling-from-sydney-to-new-york

seems like trends are holding hands as they sweep across the globe

#38 Blacksheep on 08.03.18 at 7:52 pm

OK…Don’t remember who I was talking to in early spring that said: “Lets see how you feel about Fraser Valley RE in August”.

Well its August and the hoods doing just fine.

Have overall sales slowed? Yes of course, but NOBODY has dropped their drawers and drug the average price sold in the hood down one bit.

From the trenches:

The economy is on fire in the Van / Fraser Valley (manufacturing anyways) sure, rates can move up a bit (not much with an already strong CAN $ / exports) and it wont matter cause every business contact I have is working overtime, trying to keep customers happy. Delivery for anything, has gotten pushed way out compared to just last year.

Lack of skilled labour is the biggest problem out here right now. Horgan may doing his best to kill RE but a strong local economy is going to counter his efforts.

#39 Tactless on 08.03.18 at 7:53 pm

Everyone at work is now strapped for cash. Morgtage payments went up $50 or more. Not many want to go out for lunch or even pitch in for a birthday cake. Yowza, how broke are we really?

#40 The Real Mark on 08.03.18 at 7:59 pm

“#13 The Real Mark on 08.03.18 at 5:44 pm “

More personation. Sadder than Garth tolerating it is that some low-life loser would even try it.

#41 Evangeline on 08.03.18 at 8:04 pm

#4
“I drove past many a farm property that had been recently sold last Fall that had numbered company names and Chinese characters next to the number.”

Might it have been Japanese? The Japanese have a special love affair with Anne of Green Gables.

#42 Danny on 08.03.18 at 8:14 pm

Yes…..”federal government’s competition watchdog which alleges consumers are being blinded to vital market information”

And now the real estate cartel has the King Ford dynasty to cover up even more.

I would never believe those numbers….but there really is no consumer watchdog….in the housing market which the majority of Canadians invest in over a life time.

Like do the stats including anywhere the number that went for sale….came off….then back on….then went for rent?

It’s complicated in a way…..but most people are simple….so the reports come out in the press for really what you Garth call “the fools”…and I may add ” the really stupid “….who have no real understanding of the most expensive purchase with the longest financial commitment one makes!

I questioned once a reporter on Real Estate….as to why she just quoted what a developer told her about the “hot sales “….without any verification…..and she wrote back saying my question was rude.

I say my question is why do reporters on real estate don’t provide balance in their reporting otherwise the real estate board should pay for their advertising false reporting!

We will never know….like who are really behind a smaller Toronto City Council?
Cost savings lies from King Ford…..will he freeze the Council and staff budget?
No…..he just secured a huge wage and benefit package increase for Councillors and their soon to be larger staff.
Just another payback to those councillors who helped him in his campaign.
The apple doesn’t fall far from the Ford tree.

#43 Long-Time Lurker on 08.03.18 at 8:15 pm

Some the smart money are saying that the U.S. stock market is peaking. Others are saying that there are trade wars and interest rate risks ahead –including Jamie Dimon.

https://www.cnbc.com/amp/2018/07/30/jamie-dimon-says-hes-hoping-trumps-trade-methods-work-but-fears-nega.html

#44 For Richer, for Poorer... on 08.03.18 at 8:15 pm

My daughter (a first time homebuyer) recently made an offer on a house in the GTA and her agent pushed to have the time period for financing and home inspection accelerated. During the offer period, we came to know that the selling broker, in addition to the standard 2.5% comission was offering a $5k “bonus” to the purchaser’s agent if the deal was made firm by a specific date (hence the push). We came to know about the bonus through our own due diligence (as it was published on one of the GTA Zillow type sites). No mention of the bonus on the public facing MLS listing info, or by her agent. A warm welcome to the murky RE biz. Needless to say, she passed on the house and switched agents.

#45 Rargary on 08.03.18 at 8:19 pm

Friend’s Chinese realtor in Calgary who’s had sites up in China for many years, noticed a surge in Chinese foreign buyers buying up investment condos here in last few weeks. Apparently the word of our economy picking up and prices bottoming out is out now. Interesting

Yeah, that sounds reliable. – Garth

#46 soost on 08.03.18 at 8:26 pm

I’ve never seen a m/m decline in prices as celebrated as what the Toronto news-media released this week. The Spin Doctors are working overtime and I worry that the Sheeple will have a FOMO flare-up.

#47 JM on 08.03.18 at 8:28 pm

There’s really no love lost on realtors. With that said, many of the disparaging comments can be redirected to bankers, financial advisors (sorry Garth), CEO’s, business owners, etc.

What’s my point? We’re all in it for the money my friends and I can’t fault a realtor for talking their own book. I can’t imagine anyone else trying to make a sale by highlighting the flaws in their widget. Case in point…read an earnings report from a publicly traded company and watch how accountants can spin losses into gains. Just the way the world works.

#48 islander on 08.03.18 at 8:36 pm

“the real estate market operates in a shadowy world riddled with undisclosed conflicts of interest”
Garth ….your words…

However, NOT all REAs are cheats.
Do your homework and don’t blame your gull (yes, that’s a noun!), laziness and greed on someone else.
Remember, ‘A fool and his/her money are soon parted’.

#49 mike from mtl on 08.03.18 at 8:41 pm

The industry needs closer scrutiny. Do not disparage everyone selling real estate. It’s a tough life living on commission. – Garth

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

Obviously.

An industry that trades in literally the total net worth of the buyers, with less enforcement than a ebay seller, governed by 19th century laws.

You think there’s a slight oversight here?

#50 WUL on 08.03.18 at 8:50 pm

Garth,

A note of appreciation here for your efforts. Thx.

Toronto and YVR real estate. Whatevs.

Might you cast an eye to a prediction on whether or not Johnny Manziel will eclipse the career of Vince Ferragamo as an Als QB?

Vince threw 7 touchdown passes and 25 interceptions in his CFL career. Johnny Football might throw 25 interceptions tonight against the Ticats.

Appreciated,

WUL

#51 Evangeline on 08.03.18 at 8:54 pm

#34 Tony on 08.03.18 at 7:38 pm

“Could Trump be trying to take down China to implode the worldwide housing bubble? A falling yuan and falling local stock market leaves less money for the Chinese outside of China”

I don’t think so. What he wants is to lessen the huge USA trade deficit with China — he wants China to buy as much stuff from the USA as the USA buys from China.

Over the past few weeks he’s been focusing on creating a trained and employable work force. A large number of companies that need qualified workers have pledged to create paid apprentice programs which will hire young people, vets, and even people who are coming out of prison. So far several corporations have pledged to create over 4 million jobs. Some of the companies who’ve committed to the program are IBM, Microsoft, Home Depot, Boeing and lots of others, in all industries.

The process of creating these opportunities has been public and the videos featuring the CEOs of the companies as well as the apprentices are worth watching because they indicate which companies are expecting big growth over the next five years or so.

Another thing he wants to achieve wrt China is to stop giving away USA intellectual property which is always part of the deals with China. He doesn’t want that to happen any more.

#52 WUL on 08.03.18 at 9:03 pm

Horrible news breaking in Alberta:

Alberta craft brewers worried about a beer can shortage arising from Trump’s aluminum tariffs:

https://calgaryherald.com/business/local-business/looming-beer-can-shortage-worries-alberta-craft-brewers

Can any of the Dogs here recommend a realtor in Moose Jaw?

Forlorn in Cowtown,

WUL

#53 akashic record on 08.03.18 at 9:12 pm

#32 -=jwk=- on 08.03.18 at 7:26 pm

Allegedly. Yet to be proven in court, what the defendants are unlikely to attend. A Kangaroo court that is. No wonder Mueller immediately handed over the case to others with all the great potential glory.

Things are getting interesting though, now that we learned recently that senior democrat politician, the Chair of the Senate Intelligence Committee, Diana Feinstein was infiltrated for over 20 years by his driver, who the FBI claims is a Chinese spy.

Never a dull moment.

An other special prosecutor is about to be appointed, this time to investigate the “Chinese collusion”, the impact on the US governments, politicians and the responsibilities?

Will this prompt to have a new GA, who is not recused from either case, in order to maintain impartiality in oversight of both special investigations?

#54 Real estate board on 08.03.18 at 9:13 pm

Is trying to paint a rosy, improving picture . Kinda like People in your profession: tell us the TSX is up big in 2017 , yet forget to remind readers taht over the last decade it’s up approx 4%/yr

Sales is sales

Actually it’s about having a balanced life. That’s the message here. – Garth

#55 PeterfromCalgary on 08.03.18 at 9:18 pm

What low interest rates give (high prices) normal interest rates take away (lower prices).

#56 Balmuto on 08.03.18 at 9:19 pm

#18 The Real Mark on 08.03.18 at 6:07 pm
“It is for such reasons that the BoC rate hikes have likely run their course…”

Meanwhile, in the real world:

https://www.bloomberg.com/news/articles/2018-08-03/-fantastically-good-canadian-economy-shifts-focus-to-rate-hike

#57 young & foolish on 08.03.18 at 9:19 pm

“Some the smart money are saying that the U.S. stock market is peaking. Others are saying that there are trade wars and interest rate risks ahead –including Jamie Dimon.”

It’s really a polarized situation. Nobody knows how much longer the bull market will run, but I’d say better move some capital into value equities which are less volatile and pay dividends.

#58 oncebittwiceshy on 08.03.18 at 9:20 pm

Mattl: “This is pretty basic RE 101. Anyone that is commenting on RE should understand this and using spring to summer volume declines as an indicator of market weakness is either ignorant or intentionally misleading.”

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

Absolutely true, Mattl, but is this normal considering condos are holding the market together in much of B.C. right now?

https://twitter.com/SteveSaretsky

Langley condo inventory up 126% Y/Y in July. Check out that hockey stick growth

https://pbs.twimg.com/media/DjtpPX_U4AAlybc.jpg:large

#59 Fish on 08.03.18 at 9:30 pm

@ smoking man

Could you please put up metallica again song « nothing else matter
Thank you

#60 TheDood on 08.03.18 at 9:36 pm

…..Lack of skilled labour is the biggest problem out here right now. Horgan may doing his best to kill RE but a strong local economy is going to counter his efforts…..
—————————-

Please……..the RE market in the Fraser Valley is as dead as a door nail. Lots of higher end (1 mil +) listings have been sitting dormant for months. Some of the cheaper stuff may still be moving, but it’s all sliding downwards.

A strong economy in BC means nothing in relation to RE. It’s one of the lowest paying provinces in the country with the highest priced RE.

#61 TrashPanda on 08.03.18 at 9:45 pm

Classic Bull Trap happening in T-Dot. Same as YVR not so long ago.

#62 unbalanced on 08.03.18 at 9:49 pm

My BIL is a realtor in Winnipeg. He borrowed 10 K from his own mother with no lntention of ever paying her back! Would you trust him?

#63 tccontrarian on 08.03.18 at 9:49 pm

#54 Real estate board on 08.03.18 at 9:13 pm

Is trying to paint a rosy, improving picture . Kinda like People in your profession: tell us the TSX is up big in 2017 , yet forget to remind readers taht over the last decade it’s up approx 4%/yr

Sales is sales
—-
Actually it’s about having a balanced life. That’s the message here. – Garth
—–

Problem is that everyone has a different idea of what ‘balance’ is. For instance, for some, a donut in the left hand and a beer in the right constitures a ‘balanced diet’.
In my case, I tried to convince my wife that I also need a GF who’s much younger and prettier (for a more balanced life, of course), but she wouldn’t buy it.

TCC

#64 X on 08.03.18 at 10:07 pm

Yeah, I heard some of that babble on TV today….kind of caught me by surprise, the places I have been watching are still dropping prices hoping for buyers. Lots sitting on the market, sellers still seem to be hoping for the best that someone will come along an pay what they are asking…..

#65 crowdedelevatorfartz on 08.03.18 at 10:20 pm

@#41 Evangeline
“Might it have been Japanese? The Japanese have a special love affair with Anne of Green Gables.”
+++++
Not according to the Realtors, brokers and lawyers I spoke to ………

#66 Fish on 08.03.18 at 10:43 pm

Ezcally who are the people downstairs –?

#67 Deplorable Dude on 08.03.18 at 10:48 pm

#32 ==JWK==. “For those wondering where the DNC and DCCC servers ‘went’ and confused as to how this is related to Manafort trial”

Blah blan blah…..

All totally unverifiable as the FBI was never allowed to do any forensic analysis of the DNC servers…..they are relying on evidence provided by a 3rd party…..company called Crowdstrike…..which has very close ties to Clinton……funny that.

Looks like you the Manafort trial is about to get thrown out…Muellers key witness is refusing to testify…and they keep pissing off the judge with their antics….

#68 FISH on 08.03.18 at 11:03 pm

DELETED

#69 renter in Surrey on 08.04.18 at 12:09 am

looks like immigration is driving up housing costs

https://vancouversun.com/opinion/op-ed/opinion-canada-replacing-its-population-a-case-of-wilful-ignorance-greed-excess-political-correctness

This is why Vancouver is becoming an ugly city. Not the immigration. Rather the kind of people who write such crap, then post it on this blog. – Garth

#70 Shadow Inventory Vancouver on 08.04.18 at 1:08 am

I was wondering if there was a way to calculate the “Shadow Inventory” of the Greater Vancouver real estate market. Since the beginning of the year, new listings have always been higher than sold ones when you look at daily stats. Despite this, the official inventory has peaked at 13,000 and is now going down.

What would the “change in Inventory vs (new listings – sold listings)” graph would look like?

#71 conan on 08.04.18 at 1:40 am

Their job is to sell. They work off commission- not legal advice

Nothing wrong with commission based work.
Your boss is probably paid that way. People who own businesses are paid that way.
Sales people want repeat business. It’s how the good ones make a go of it.

Government employee?

#72 Where's The Money Greedo? on 08.04.18 at 2:20 am

Re: #53 akashic record on 08.03.18 at 9:12 pm
#32 -=jwk=- on 08.03.18 at 7:26 pm

Allegedly. Yet to be proven in court, what the defendants are unlikely to attend. A Kangaroo court that is. No wonder Mueller immediately handed over the case to others with all the great potential glory.

Things are getting interesting though, now that we learned recently that senior democrat politician, the Chair of the Senate Intelligence Committee, Diana Feinstein was infiltrated for over 20 years by his driver, who the FBI claims is a Chinese spy.

Never a dull moment.

An other special prosecutor is about to be appointed, this time to investigate the “Chinese collusion”, the impact on the US governments, politicians and the responsibilities?

Will this prompt to have a new GA, who is not recused from either case, in order to maintain impartiality in oversight of both special investigations?
+++++++++++++++++++++++++
Just have to look at Bill Clinton and his association with a member of a Macao Triad member, giving him unfettered access to EVERYTHING in the White House back in the early 90’s.
“The influence of the President’s Chinese friends on American foreign policy is illustrated by an incident involving the down-and-out “Little Rock restauranteur” Charlie Trie during the March, 1996 crisis involving Chinese communist missiles fired toward Taiwan. Following the deployment of U.S. aircraft carriers to the region, Trie showed up in Washington, delivering $460,000 to the President Clinton’s Legal Defense Fund — and a letter, delivered to the White House, regarding the Taiwan crisis. The provocative letter stated, in part [verbatim], “Any negative outcomes of the U.S. decision in the China issue will affect your administration position, especially in the campaign year… If the U.S. recognizes “one China” policy, don’t such conduct will cause a conflict for intervening in China’s internal affairs”

Year of the Rat — How Bill Clinton Compromised U.S. Security for Chinese Cash by Edward Timperlake and William C. Triplett, II
https://www.centerforsecuritypolicy.org/1999/01/04/the-real-case-against-bill-clinton-chinese-bribery-2/

“Under the law, culpable intent can be established if the suspect has engaged in “reckless endangerment.” This test is amply satisfied by the President’s surrounding himself with individuals with ties to Beijing. These include his decades-long friendship with
Mochtar and James Riady and with Charlie Trie.
The former run a Chinese-Indonesian empire which funneled at least a million into Clinton and Democratic coffers in 1992. According to Messrs. Timperlake and Triplett, the latter is a member of the Chinese “Four Seas” Triad gang. At the
very least, he behaved in a gangster-like fashion when, on 21 March 1996, he delivered nearly simultaneously $460,000 to the President’s legal defense fund and a written demand that the U.S.
not interfere in China’s campaign of intimidation against Taiwan.”
No more needs to be said….
There is so much on Bill Clinton selling out the US, let alone his wife…..
Have a look at what their foundation has done to Haiti, where there are $billions missing that should have went into rebuilding Haiti, supposedly sent to Switzerland just before the last election, never to be seen again…..
They reportedly built ONE house.
https://www.nationalreview.com/2016/07/hillarys-america-secret-history-democratic-party-dinesh-dsouza-clinton-foundation/

#73 Dolce Vita on 08.04.18 at 2:46 am

Realtors think that selective word Advertising will turn around a correcting to crashing market.

Garth, using facts and figures debunks their latest efforts to stir up moribund sales with selective word falsehoods.

The average person understands this well.

Evidence:

#64 X

in few words, using every day person parlance, says the same as Garth.

Proof that people are not stupid and easily duped by RE Marketing efforts to turn around a market with “selective words” that is bleeding to death and on life support.

– – – – – – – – – – – – – – –

“Pig. Lipstick.”

So, ala Jordan Peterson/Cathy Newman interview, “are you saying that” pigs are anti-feminist, aspiring to the TV 50’s version aesthetic of stay at home housewives?

Let the bullets fly Garth.

#74 Oft deleted much maligned stock.picker on 08.04.18 at 3:21 am

#34 Tony…..the housing bubble certainly will be collateral damage with 3 trillions of Yuan being incinerated since the beginning of this year. The Chinese stock markets are collapsing ….it’s cascading destruction. There are many reasons why Trump is taking China down a peg or two…..a couple of which the pc among us don’t like to recognize.

One big factor will remain money laundering crooks who take their money straight out of government coffers to wash in Canada….that will likely accelerate as the Chinese domestic market implodes.

As we see in Markham lately…the Chinese “everyman” is highly volitile and prone to violent outburst…..which has got the Communist Party membership crapping thier pants wondering if the increasing wealth destruction and unemployment will foment revolution. There are hundreds of riots and major uprisings in China every day….the media banned from reporting. Expect a period of two things….retail Chinese investors dumping offshore assets due to margin calls….at much higher rates than us….and not nice procedural….corruptaucrats dumping even more cash into Canadian assets out of fear.

These two factors will collide at some point. Thailand for example estimates that tourism from China numbers are down 700,000 in the last month alone. There is a rout in Chinese stock markets….it doesn’t take a genius to guess what will flow out of this sudden whacking…..chaos…..and more chaos. Reason being, markets in China are majority retail owned….opposite to our which are institutional. The average guy in China is getting ripped a new one. The blabbering of the Communist Party about being the next superpower….hah…..don’t believe it. Trump doesn’t want a new super irritant as belligerant as the Chinese….nor do the Russians or EU.

#75 SueP on 08.04.18 at 8:25 am

Garth, comment #68 is concerning.

A troubled person. – Garth

#76 Penny Henny on 08.04.18 at 9:04 am

Any comment Garth?

https://nationalpost.com/news/canada/an-unpleasant-smelling-summer-for-an-iconic-nova-scotia-tourist-town

Beats being gunned down in a cafe, I guess. – Garth

#77 russell on 08.04.18 at 9:24 am

Yes I read the Toronto star and the rosy picture they portrayed… it made me gag… but if people are not intelligent enough to do their own research into the real numbers and what is happening, not just domestically but globally as well, which reads like a horror novel of the pressure economically, then what the hell…

#78 TurnerNation on 08.04.18 at 9:29 am

Guido nice links from yesterday I’d seen some before. There’s a bit or truth sprinkled in many places. Sow reap it.

Every few weeks the police strip a few bumbling losers of their cash, drugs and guns, with a big photo op afterwards. Keeping our streets safe!
But they never ever get any middle or top level fish. Never.
The profits are too high in this business and it serves an essential goal of weakening and controlling folks.
(Anything which breaks the family and family men will be supported.)

If anyone gets too close to the big fish I believe they are told to back off. And why risk your own gold plated salary or family or life for that?
Stick to street security theatre: yellow tape, flashing lights, blue latex gloves on the ground. It all looks good on the 6pm news. Budgets, and crime increase.

Business is just to big and too good to be stopped.
Face it. In the GTA and GVA drug dealers are a protected class (vunerable and marginalied!) and rule your streets.
Police with their bulking enhanced appearances are there for show.
https://www.thestar.com/news/gta/2018/04/04/hamilton-cop-in-corruption-trial-says-he-wanted-to-get-guns-off-the-streets.html

#79 KLNR on 08.04.18 at 9:34 am

@#51 Evangeline on 08.03.18 at 8:54 pm
#34 Tony on 08.03.18 at 7:38 pm

“Could Trump be trying to take down China to implode the worldwide housing bubble? A falling yuan and falling local stock market leaves less money for the Chinese outside of China”

I don’t think so. What he wants is to lessen the huge USA trade deficit with China — he wants China to buy as much stuff from the USA as the USA buys from China.
_____________________

Wonder what happens when china calls in all the american debt they own.
Interesting times ahead.

#80 Ponzius Pilatus on 08.04.18 at 10:06 am

#29 Alberta Ed on 08.03.18 at 7:13 pm
The real estate industry should be regulated as strictly as banks.
————
You are funny.

#81 TurnerNation on 08.04.18 at 10:32 am

How to bilk taxpayers 101: Endless created rifts and chasms (aka Pork Barrels) between all levels of government, space to be filled with pricey lawyers and consultants.

There’s a reason 50 cents of every dollar you earn goes to taxation on all levels, hidden or openly. Hint its not for road or schools. Not to mention plum contracts, padding and graft.

Feds vs. Provinces on “carbon taxes”. Should be good to generate what 1/2 billion of legal and consulting fees – paid by tax payers?

Province vs. city: Ontario wants to cut Toronto’s city council size. Mayor announces small army of lawyers to tackle this. Should be good for a 1/4 billion taxpayer dollar spend no?

This sets the stage for another actor. Former city planer Jennifer K has in the wings been tweeting the agenda of densification all these years, after ruining Toronto’s flow to developers. Now she makes a bid in the race for new mayoralty, but wait she claims Toronto should separate from ON. Let’s study this, I figure it’ll be good for another 1/4 billion in billing to legal experts and “arm-length” consultants (aka friends and family of the city)

See how it’s done. All we need now is the PM to give a few hundred million to the warlords over seas.

The endless stream of drugs must hit our streets. Bank on this. You bankroll it.

#82 Happy Housing Crash Everyone! on 08.04.18 at 10:44 am

The housing market is falling apart everyone on twitter is laughing at the SHYSTERboard for releasing such nonsense. Everyone can see houses are sitting and selling for less in the GTA. SHYSTERs are horrible people looking at RIP off the masses with their lies

#83 crowdedelevatorfartz on 08.04.18 at 10:44 am

@#76 Penny Henny

Summer on either Canadian coast is the season to partake in wafting sewage.
Victoria has dumped raw sewage into the Georgia Straight for years much to the chagrin of Washington State and Seattle’s citizens.
Halifax harbour used to be a cesspool until a few years ago when the feds, province, etc spent close to a billion fixing up what had been a problem since 1749
Summeside PEI is affectionately dubbed “Sewerside” in the Summer months by locals and visitors alike.
Vancouver’s beaches currently are “off limits” for swimming (every summer) when the Fecal Coliform count reaches record levels…..
I’m sure Tornto, Montreal, etc etc etc, still “dump” (pun intended) vast amounts of nasty goo in their rivers, and lakes.

It aint just Lunenberg

#84 Victor on 08.04.18 at 10:57 am

to #31 Mattl

6961 looks better than July 2017 numbers when the sales collapsed, but much worse than the previous years:
2016 – 9989
2015 – 9980
2014 – 9152

#85 mathman on 08.04.18 at 10:58 am

Lies, damn lies and statistics.

From my vantage point in the west end of 416 – nothing is selling over $1.2 and weekly price reductions despite limited inventory.

This tells me people are tapped out, mom and dad can fork over the downpayment but Junior can’t get qulaified under B20 which has put a ceiling on prices. The people with no business buying have been taken out of the demand picture.

The real test will be the fall market – anyone that needs to sell and is rubbing the proverbial rabbits foot that demand will return is sorley mistaken

#86 jess on 08.04.18 at 11:19 am

de-offshorization

https://www.americanprogress.org/issues/democracy/reports/2018/02/13/446576/cracking-the-shell/

“If he were sitting in the room right now, I really wouldn’t know what he looked like,” Trump said in a Florida deposition in 2013.

“It’s ridiculous that I wouldn’t be investing in Russia,” Trump said in the 2007 deposition . “Russia is one of the hottest places in the world for investment.”

Read more here: https://www.sacbee.com/news/article162790113.html#storylink=cpy

Oberlander relied on classified info the courts later removed & discounted

https://www.businessinsider.com/felix-sater-tax-fraud-case-trump-russia-2017-9

In Felix Sater’s case, Judge Glasser was obligated to comply with the Mandatory Victims Restitution Act (MVRA) and with the 2004 Crime Victims Rights Act, which mandates that courts give crime victims proper notice and the right to be heard at sentencing.

Sater’s 1998 plea deal was arranged by top federal prosecutor Andrew Weissmann, who in 2010 remarked that “I’ve seen guilty pleas under seal. I’m not sure I’ve ever seen sentencing under seal,” when Texas prosecutors arranged one for the Mexican cartel boss who founded the bloody Zetas gang. Weissmann is better to know these days for his current role as a prosecutor in Special Counsel Mueller’s Russia probe.

=========
July 26 2018 – 11:07
Russian Scientist Charged With Treason After Missile Technology Leak

#87 jess on 08.04.18 at 11:29 am

investigating a private security company wagner

time.com/5354799/russian-journalists-killed-central-african-republic/

=============
Wagner mercenary group
mercenaries are banned under Russian law
https://themoscowtimes.com/news/russian-mercenary-from-wagner-group-reported-killed-in-syria-59584

#88 tedfiftyfour on 08.04.18 at 11:33 am

GARTH! You are doing exactly what you accuse the RE Boards of doing. They lack accuracy so do you. Considering your access to historical RE stats. You did not say July’s weak numbers are and have been typical of most July sales for at least the past 5-10 years in most RE markets. Traditionally July is slower sales that June. To say July to June is a trend is not correct. If you do the math, On average July sales are typically 20%-30-% lower than the month of June. If you are going to take on the Boards please be more precise and accurate and yield to publishing a narrative that is not accurate.

The most interesting aspect was the 6-month comparison. Read it. – Garth

#89 jess on 08.04.18 at 12:03 pm

golden visas

how to exploit the financial system of Cyprus to get funds out

… through their network of shell companies around the world, the duo invested in properties from Canada to Scotland to mainland Europe

https://www.occrp.org/en/28-ccwatch/cc-watch-indepth/8366-cyprus-records-shed-light-on-libya-s-hidden-millions

“committed to operating its business in strict compliance with all the applicable laws, rules and regulations in the markets in which it operates.”

#90 Wrk.dover on 08.04.18 at 1:26 pm

Nights in western NS have been consistently over 20 degrees for a month now. Totally out of character. The record period of time for over 20 degrees at Halifax Airport is 100 hours. In fifth place is 44 hours or thereabouts.

So if Lunenburg’s Back Bay has a hum on, it has to do with unusual temperatures heating up the water and mud flats too.

You want to see some funky looking water? Get a window seat on a flight going lengthwise Lake Ontario, some crazy ugly colours blooming in that big city drinking water reservoir.

#91 Smoking Man on 08.04.18 at 1:27 pm

Looks like the real estate collapse is world wide. Not like you guys haven’t been warned.

https://www.zerohedge.com/news/2018-08-04/reverse-wealth-effect-looms-global-housing-bubble-pops

#92 Tony on 08.04.18 at 1:34 pm

Re: #82 Happy Housing Crash Everyone! on 08.04.18 at 10:44 am

It’s simple but the average person will never understand. Powell in America is raising interest rates to implode the housing bubble. Trump is imposing tariffs on China to devalue their yuan the kill their stock market in so doing that will make the Chinese poor outside of their native China thus killing property prices in Canada, the West coast of America, Australia and New Zealand.

#93 yorkville renter on 08.04.18 at 2:24 pm

OK, m/m #s are worse, but we always measure y/y… I won’t fault the board for actually sticking to y/y, because traditionally that’s what we do.

#94 Troy McClure on 08.04.18 at 2:25 pm

#63 tccontrarian on 08.03.18 at 9:49 pm

In my case, I tried to convince my wife that I also need a GF who’s much younger and prettier (for a more balanced life, of course), but she wouldn’t buy it.

===

You might think you’re diversifying your portfolio, but you’d still be concentrated in a single sector.

#95 Shawn Allen on 08.04.18 at 2:44 pm

Doom Sells

Doom and predictions of market declines sells. Witness this highly popular blog.

Hardly. It’s my animalism. I’m optimistic for most assets other than RE. – Garth

#96 Evangeline on 08.04.18 at 3:34 pm

#91 Tony on 08.04.18 at 1:34 pm

“… Trump is imposing tariffs on China to devalue their yuan ”

Trump wants to reduce the USA’s trade deficit with China. Two ways to do that,
1. The US makes Chinese goods way more expensive via tariffs so there will be less Chinese goods imported or,
2. get China to buy more USA goods.

If China lowers its currency it will not be able to buy more US goods because the price of US goods will then be too pricey for them. So they won’t do that — and that is another one of Trump’s goals. He talks a lot about how China’s frequent devaluing of its currency is an unfair trading practice

#97 cd on 08.04.18 at 11:45 pm

I’ve seen some agents looking for renters for places. Is that a new trend?

#98 PINHUNTER on 08.05.18 at 2:04 am

You note: “In most of those cases buyers were unable to know the sales history of the property they were purchasing nor the market activity surrounding it. Nobody would buy a stock that way, let alone one worth $822,681.”,

Anyone making that size purchase and not doing their due diligence is just… a great big ole fool. They’re a fool for even spending that much on a house in most cases obviously, that’s been said about 18000 on this blog, but I’m willing to reiterate.

I don’t know about you guys, but any time I’ve seriously contemplated a real estate purchase, before putting in an offer I spend the $20-$30 whatever something it is and get the damn PIN from the Land Registry Office. Yes, if the real estate agent is willing/able to disclose what they can from their intel, that’s great, but sometimes (as in private sales) that’s not possible. Also helpful is running a solid market comparables analysis w an agent before pulling the offer trigger.

Also, it’s good to have a solid land surveyor in your pocket as I’ve learned (in Sudbury), there are all sorts of historical oddities that can lead to the property you think is yours not actually being yours. A property I was contemplating was being sold with a garage but upon calling my surveyor he noted that the garage was built and stands partially on private mine property. Only a couple of feet can cost thousands upon thousands in headaches.

I contact the surveyor before I put the offer in just to see if there is anything obvious their office knows of from their ramblings about on the land… (I’m in Sudbury and it’s a small and strange world up here). Tangent here but I’ve also seen a house built on a failing crown pillar of an abandoned mine (in a small town in South eastern Ontario). The municipality didn’t do their due diligence when the land was sold to the developer in the 80’S and sure enough buddy’s pool fell into a big ole gaping hole in their back yard. Long story short the Crown had to buy back the land because it was a mine hazard and buddy’s house was half in a hole all because of a lack of understanding the land history. It baffles me how little people actually know about the land they’re ‘buying’, or perceive to be buying.

Pull the PIN before pulling the trigger, get title insurance, talk to a surveyor, have a solid lawyer on hand. Bla bla bla

#99 Marco on 08.05.18 at 12:53 pm

Here, I can learn that something like Canadian nationalism exist. But how that is possible in land without constitution and which is property of one person?

Learn your history. – Garth

#100 Marco on 08.05.18 at 12:59 pm

Last ten years here I can read that next fall or spring will be the real test. Prices however are going up and up, because this is the money laundering place of the world.

Zero impact on overall market pricing. It’s a myth. Don’t fall for it. – Garth