The game changer

Markets don’t tumble just because they’ve soared. That’s a myth. But they do crumble when the conditions that puffed them up change. These days US equities are flying along at near-record levels. Have been for months and months. Even Bay Street’s on a streak. Over the last two years investors with balanced portfolios are ahead about 25%. So some people worry if we’ve flying too close to the sun. Is disaster inevitable? Will 2008 come back?

Enter Trump.

This week the US president, now implicated in a crime by his former personal lawyer, was the subject of impeachment talk. His defence?  “I’ll tell you what, if I ever got impeached, I think the market would crash,” Trump said in a TV interview. “I think everybody would be very poor. Because without this thinking you would see numbers that you wouldn’t believe, in reverse.”

Is this possible? Sure. Likely? Nope.

The US market has risen because of economic growth, corporate profits, global expansion, job creation, rising wages, improved consumer confidence and technological advance. Trump has augmented that, especially with the deep tax cuts implemented last year. But impeachment would not reverse those policies. It might even ease the global trade war started by one single man. Yes, it would be a shock. Markets would react for a while. Selling would be foolish. Instead, you’d probably want to whip out the cheque book. Make your portfolio greater again.

     

Remember August 23rd. Could be the day when transparency finally arrived and real estate consumers had the scales lifted from their eyes. The Supreme Court has told the Toronto Real Estate Board to get stuffed, that it won’t entertain any more delays in the realtor’s losing battle with the federal Competition Bureau.

So, after six years of wrangling, obfuscation, foot-dragging and moaning, the real estate cartel is legally powerless to prevent the publishing of listings data that consumers were previously blinded to. Sold prices. Listing and re-listing dates. Price changes. Days-on-market. Pending and conditional sales information. Assessments, property taxes and more.

This is the stuff that all investors and buyers have been privy to only in jurisdictions like Nova Scotia (with Viewpoint.ca), and many people argue it’s helped keep prices stable there. It means realtors can no longer cajole buyers into blind auctions, hide the fact prices have been arbitrarily jacked or slashed and it allows consumers to research their own comparables and sales histories.

Wow. Rising interest rates. The mortgage stress test. Tumbling new home sales. Credit restrictions. And now the end an era in which a cabal of hungry house-floggers obscured and manipulated market data. Sunshine, flooding in. Finally. Big melt coming.

     

As you might know, it’s bank earnings season, and the financial guys are making money obscenely. Record profits, dividend hikes, Bay Street bonuses up the wazoo. The banks account for the largest share of the Canadian stock market and are a proxy for the entire economy.

But, yes, there are some corkers. Here’s one of them:

For the past few years CIBC has been leading the banks in mortgage growth, but that has just hit a wall. The maroon penguins admit the pace of mortgage portfolio expansion has dropped to a four-year low. In fact, the little web-footed suckers are doing 80% less lending than just a year ago. The culprit (of course) is the B20 stress test which has so far punted about 100,000 potential buyers out of the marketplace and reduced the available credit for first-timers.

The bankers are okay with this, by the way. The whole point of the new reg was to de-risk mortgage portfolios since so many unqualified (ie – high-risk) buyers were using Bank-of-Mom down payments to get around mortgage insurance. No more.

By the way, net penguin  income for the quarter soared 25%. Those who think a real estate correction will spank the banks are sadly mistaken.

160 comments ↓

#1 jess on 08.23.18 at 3:55 pm

…”Berlin tightened laws last year in an attempt to stanch money laundering. But crime has paid too well for too long in Germany, attracting gangs from Russia, Italy and the Middle East. In 2016, authorities took up 563 organized crime cases relating to money laundering via real estate…”
“Until last summer, Germany’s lax laws did not require criminals to prove their money had been earned legally. There’s a requirement for some proof, but it isn’t as stiff as in Italy. Plus, cops were stalled by the requirement that they prove money was earned unlawfully before seizing suspects’ assets. Burkhard Körner, president of Bavaria’s domestic intelligence agency, pointed out that it is hard for authorities to distinguish between money that’s earned legally and illegally, and to demonstrate the latter.’

Financial Intelligence Unit has also attracted criticism for moving too slowly on tips about crime. It had a sizable backlog of 30,000 cases this February, with another 5,600 suspicious activity reports arriving each month, only by fax.

https://global.handelsblatt.com/finance/money-laundering-germany-crime-951250

#2 summerland73 on 08.23.18 at 3:58 pm

first comment

#3 crowdedelevatorfartz on 08.23.18 at 3:58 pm

” Rising interest rates. The mortgage stress test. Tumbling new home sales. Credit restrictions. And now the end an era in which a cabal of hungry house-floggers obscured and manipulated market data. Sunshine, flooding in. Finally. Big melt coming.”
++++++

The final nail in the coffin for the Real Estate Cartels…..
Let us hope so.

#4 Joe on 08.23.18 at 4:03 pm

Lost two bidding wars in Vaughan townhouses. Listed $799K sold $860K. Having this information now available will make people pay more. Since I didn’t know this info without a realtor I assumed they sold for asking or below the $799K. Now I’ll have to bid higher than $860K on the next one. Perhaps 1.5M houses have softened but for 99% if people houses are super expensive and show no signs of slowing. Waited 10 years. Guess I’ll rent for life IF I can even find something. I know friends waiting months and years for a rental home to rent. Maybe I should move away leave family and friends and career. Who knows anymore. I’m tired of it all.

#5 IHCTD9 on 08.23.18 at 4:15 pm

#137 bdwy sktrn on 08.23.18 at 1:57 pm

you can do better than this. yvr is separated from the cascadia zone by a small island (VI)with 5000′ peaks.
you think a 65′ wave will climb over a mile high mountain?
______

Ah yes, good call.

I stand corrected, YVR is totally safe from any 9.0+ mega thrust earthquake, or monster tsunami that may come down the pipe. All ill effects will be eliminated by Vancouver Island.

My bad…

#6 James on 08.23.18 at 4:17 pm

Trump will simply be a footnote in history as the foulest president to ever grace the halls of the white house. It does appear to be somehow ironic that the demented timeworn orange fart is a truly a racist who is white and lives in an inappropriately named “White House”. Huh you never know? Life will go on and money will still be made as it was before we had to deal with him and as it will be when he is soon disposed.

#7 Intensive Porpoise on 08.23.18 at 4:21 pm

#4 Joe

You dodged a bullet mate. Consider yourself lucky

#8 Oakville Stinks on 08.23.18 at 4:24 pm

TREB LOST SUPREME COURT OF CANADA APPEAL!!!!!!!!

GREAT NEWS EVERYONE!

#9 jess on 08.23.18 at 4:25 pm

locker room talk?

…”In case anyone needs their memory refreshed, RBS was the subject of £45.5bn bailout by UK taxpayers. It is currently at the bottom of the customer service league and has already paid US regulators nearly $12bn in fines. It has been rebuked by the House of Commons Treasury Committee for systematic abuse of small businesses and is also implicated in alleged laundering of Russian dirty money.

In May 2018, US authorities levied a fine of $4.9bn (£3.6bn) on RBS to resolve a US investigation into its sale of toxic mortgage-backed securities. Now the US Department of Justice (DOJ) has released some of the related internal emails and correspondence, which provide a glimpse of its corrosive business culture devoted to putting profits and performance related pay before people, ethics and integrity.

The official statements are that financial products, including loans, acquired by RBS are subject to due diligence. But the DOJ said that RBS failed to disclose systemic problems with loan underwriting.

A Senior Trader said in a May 2006 self-evaluation that when compared to “the rest of [Wall S]treet…we do the least amount of diligence and kick out the fewest loans.” On occasion, RBS did not conduct any due diligence at all. RBS Executives openly (albeit internally) discussed how RBS’s due diligence process was, as a senior bank analyst described, “just a bunch of bullshit.”

The DOJ released transcripts which suggest that in the period leading to its rescue, RBS – through its executives at its US subsidiaries – underwrote mortgage backed securities with a high risk of default, and then made false and misleading representations to sell those to investors. RBS’s chief credit officer described them as “total f***ing garbage” loans with “fraud [that] was so rampant…[and] all random,” so “the loans are all disguised to, you know, look kind of…in a data file.”

Profits before people was the norm, and a senior vice president in RBS’s Asset-Backed Finance Department explained to one of his colleagues that the loans were the product of a broken mortgage industry: the mortgage lenders “raking in the money” had an “incentive…to bring in as many loans as possible,” while “the [mortgage lenders’ employees] that…have the incentive to hold the line don’t give a sh** because they’re not getting paid.”

As the loans became toxic and the US housing market crashed, RBS executives rationalised their practices. RBS’s Chief Credit Officer wrote that the loans were being pushed by “every possible…style of scumbag…it’s like quasi organized crime, ‘[f]acilitated by brokers…and just a lot of bad people who just said, “Hey, there is a major flaw in this loan origination model. And we can fill it up like nobody’s business.” The DoJ notes that RBS never disclosed that these material risks existed and increased the likelihood that loans would default.

The DoJ says that RBS’s executives showed little regard for their misconduct and, internally, made light of it. For example, RBS’s Head Trader received an e-mail from a friend stating “[I’m] sure your parents never imagine[d] they’d raise a son who [would] destroy the housing market in the richest nation on the planet.” The Head Trader answered, “I take exception to the word ‘destroy.’ I am more comfortable with ‘severely damage.’”

The DOJ transcripts are disturbing. Are other banks less rotten – or just counting their lucky stars that so far their internal dealings have not been exposed?”

https://leftfootforward.org/2018/08/why-didnt-uk-regulators-spot-the-rot-at-the-heart-of-british-banks/

#10 espressobob on 08.23.18 at 4:26 pm

Buying low and rebalance when the equity position gets too high. Yup. That never seems to get old. Works for some of us.

#11 HT on 08.23.18 at 4:33 pm

Impeachment won’t happen, so no need to worry anyhow. In fact, I’ll be very surprised if Trump isn’t re-elected in 2020. The initial shock of his ways is already wearing off, only to leave the usual markers of performance, all of which seem to be prodding along just fine.

Realtors: suck it. The SC has spoken, the people have spoken, you’re done. Better take that Audi lease money and invest in some virtual realtor tech companies.

Hey banks: glad you’re doing well. Wouldn’t want you to come looking for a handout like 2008.

Rock on, Garth!

#12 eightlock90 on 08.23.18 at 4:33 pm

By the way, net penguin income for the quarter soared 25%. Those who think a real estate correction will spank the banks are sadly mistaken.

—————–

What about when all the people who are overleveraged start to default and the banks balanced sheets start to get ugly? Will the increased income from rising rates offset all of their defaulting loans?

There is no history of widespread defaults in Canada. Plus the banks benefit from default insurance. – Garth

#13 Lee on 08.23.18 at 4:39 pm

#4,

I’m not an FBI speech analyst, but even I know what you just posted is made up. Odd that you would consider someone waiting months for a rental is in despair.

#14 Asterix1 on 08.23.18 at 4:40 pm

Still one important piece of information missing next to the price of a property……

The exact square footage!

#15 Howard on 08.23.18 at 4:40 pm

#4 Joe on 08.23.18 at 4:03 pm
Lost two bidding wars in Vaughan townhouses. Listed $799K sold $860K. Having this information now available will make people pay more. Since I didn’t know this info without a realtor I assumed they sold for asking or below the $799K. Now I’ll have to bid higher than $860K on the next one. Perhaps 1.5M houses have softened but for 99% if people houses are super expensive and show no signs of slowing. Waited 10 years. Guess I’ll rent for life IF I can even find something. I know friends waiting months and years for a rental home to rent. Maybe I should move away leave family and friends and career. Who knows anymore. I’m tired of it all.

————————————————————-

Vote Bernier.

A vote for Bernier is a vote for Trudeau. – Garth

#16 Andrewski on 08.23.18 at 4:56 pm

Friends just bought their 1st home, a townhouse. Based on what they’ve told me they had an honest real estate agent, who pulled all the data on the complex’s sales & they had a thorough home inspection done. They looked at the contingency fund of the 45 unit complex, over $250,000, with no current outstanding large future projects listed for the complex. The unit they purchased needed a new water heater & a re-piping, so they lowered their offer to off-set their future costs & the sellers (begrudgingly) accepted their (approx) 12% under asking!

#17 Linda on 08.23.18 at 5:00 pm

So how long before transparent real estate information is available to the public? Are the RE cartels the ones who will be preparing this information or is this something an independent 3rd party company will be compiling for the buying public?

It will be interesting to watch & see whether this new transparency in housing data will result in lower housing prices. Also, what change in pricing will we be able to attribute to the new transparency, given that housing markets have already been cooling?

I’m also wondering how many people will be looking to see whether they paid too much for recent property acquisitions. As evidenced by tales told in this blog, nothing burns as much as to find out you paid a lot more than the person seated next to you for the exact same product.

#18 Stan Brooks on 08.23.18 at 5:12 pm

#17 Linda on 08.23.18 at 5:00 pm
So how long before transparent real estate information is available to the public

Dear Linda. Transparency in Canada?
What an oxymoron.

#19 confused on 08.23.18 at 5:14 pm

What will the banks do with the $Billions that they are now not lending out for mortgages?

You certainly live up to your name. – Garth

#20 Canadian Zillow on 08.23.18 at 5:15 pm

Who is up for supporting zillows move to Canada or viewpoint going national? I for one commit to being a paying subscriber even though I’m not in the market.

Or investment opportunities – crowd funding for one of these types of sites? What will it take?

Anyone heard of any of these sites with plans to jump in?

Removing the obfuscation of information will go a long way in making the market return to one based on economic priciples not schills and hucksters.

#21 SimplyPut7 on 08.23.18 at 5:23 pm

#4 Joe on 08.23.18 at 4:03 pm

You sound like a realtor.

Wait until all of the people who lost bidding wars trying to buy their dream home, find out their higher bids were never accepted because the seller’s realtor wanted to be on both sides of the deal so they wouldn’t have to share the commission.

What will happen when all of the FOMO buyers/speculators from 2016 and 2017 start looking at what other houses and condos in their area sold for in the last 12 months? Their realtor told them the GTA was running out of land and foreigners with suitcases full of money were going to buy their investment properties at any price. There are places in the GTA that have homes sitting on the market for months, listed for prices not that have not been seen in 2 years.

How many realtors will lose clients once the truth comes out?

I can’t wait for purplebricks and alternative sites to realtor.ca, purge most of you from the GTA housing market.

#22 Intensive Porpoise on 08.23.18 at 5:25 pm

Haha! Conservatives ain’t “Trump” enough… Bernier decided he’s got to go do it all himself. Assécher les marais!

#23 WestCan on 08.23.18 at 5:32 pm

Hey guys & gals,

Sorry for off topic but… Am soliciting your thoughts – I realize this is a ridiculous place for getting financial advice, but hey what the heck.
I am setting up my etf (6 months in) and am wondering if I should consider etf’s like VUN or VFV as US denominated holdings, or strictly use funds priced in USD.

I do not really like buying funds that only hold other funds – these hold 100% of holdings in their US counterparts VOO and VTI – but at a much lower entry price they will be easier to manage come rebalance time.

Any reasons I should prefer the US market version or the CAD market version (or vice versa) would be appreciated.

I like the funds, need some passive indexing to balance out the active stuff, and if I buy the CAD versions I can rebalance the US-CAD denomination ratio in other ways.
Cheers and many thanks.

#24 Igor on 08.23.18 at 5:35 pm

Can we have same in YVR please?

#25 Ian on 08.23.18 at 5:36 pm

Things off to quite a start here in Halifax on this Bernier news.

Sheer has completely mismanaged this. He needed to accommodate way more of Bernier’s platform.

#26 bdwy sktrn on 08.23.18 at 5:41 pm

I stand corrected, YVR is totally safe from any 9.0+ mega thrust earthquake, or monster tsunami that may come down the pipe. All ill effects will be eliminated by Vancouver Island.
=———————-
no tsunami threat at all.
even in the one in a billion chance the 9.0 hits, not in the cascadia zone, but hundreds of km away from said zone, in the non seismically active georgia straight just off yvr, we are still 98.5% safe.
i don’t know if you ever spent time here but other than richmond it’s quite/extremely hilly. (a walk up from the ocean in kits/east van/.n van/westside etc will pass 65′ in a few blocks or less.

bigger chance of the city being destroyed by an asteroid than a tsunami.

is california RE is now nearly free since there have been several big shakers there over the years?

i felt over 100 quakes in one year in tokyo. felt only one here in 24 years. the japanese did not run around like chicken littles like many here love to do.

———————–
o/t
costco new record AGAIN – 230/share
who bought when i was pumping it at 150-160?

#27 Rigorous Dolphin on 08.23.18 at 5:45 pm

#22 Intensive Porpoise on 08.23.18 at 5:25 pm
Haha! Conservatives ain’t “Trump” enough… Bernier decided he’s got to go do it all himself. Assécher les marais!
——————-
dewater the wetlands????

OHHHHH! – drain the swamp!

#28 David R C on 08.23.18 at 5:59 pm

Excellent post Garth. Sunshine coming in, indeed.

#29 justinhan on 08.23.18 at 6:03 pm

So what’s the comparable for viewpoint in Toronto? is it like housesigma.com and mongohouse? Do you think the launch of these website is going to keep the price stable(er) in the future?

#30 Danny on 08.23.18 at 6:05 pm

Good news.
Let’s thank the Federal Competition Bureau and the Court system…it may have taken a long time but finally some more transparency in the Real Estate Cartel.

1.Garth…did you have any involvement in setting up the Competition Bureau?
2.Or at least were you a supporter when it was established?

Now the question will be when and how does ordinary Joe get into the dark secret closest of the Real Estate cartel or will they just drag their feet until someone has to slap them to attention?

Or maybe Howdy Doody Ford will be approached to intervene somehow because who knows what he has up his magician sleeve of deceit….for his financial real estate backers.

I am sure today they set a date for lunch.

#31 possible September meltdown on 08.23.18 at 6:06 pm

My reading of these tea leaves is different…

Trump basically declared today that it is not his fault if and when markets crash as soon as he’s impeached. CYA as per usual. He knows the end is nigh.

Markets need to go through the motions. For any good pullback, the narrative has to match the action. There’s a lot of money on the table and in the system. Needs to be reabsorbed somehow so that the show can start again. I stand with my prediction that we’re overdue and a good dose of market reality will be a boon to our kid’s future. Things are not just going sideways in YVR RE.

Do you think people still care to debate the alleged benefits of researching gender studies or defining genders when half the population stands in a soup line?

Life’s too good for the majority. Cannot have that for long. It’s organic.

#32 FOUR FINGERS WATSON on 08.23.18 at 6:10 pm

Plus the banks benefit from default insurance. – Garth
……………………………………………..

That says it all right there. The banks are still laughing all the way to the ….er………bank.

#33 Mean Gene on 08.23.18 at 6:18 pm

Hopefully the Realturds® got nailed with the Competition Bureau’s (taxpayers) costs.

#34 ImGonnaBeSick on 08.23.18 at 6:19 pm

So my barber told me something interesting today, take with a grain of salt – but being a barber he does talk to a lot of people. He said that a lot of people were getting into arrangements with sellers where they would intentionally overbid an asking price, give the seller a couple grand and trust the seller to return the the overbid to them, essentially getting a cashback deal. The result, the buyer gets a big cash loan at relatively low interest, also setting a baseline for a neighborhood’s house prices, rinse and repeat…

Has anyone else heard this? I’m not sure if it’s illegal, it sure seems like it’s some sort of fraud, at the very least, it’s shady AF…

#35 Karl on 08.23.18 at 6:28 pm

The Biebs ain’t scared of no RE correction!

Link: https://www.thestar.com/entertainment/2018/08/23/justin-bieber-reportedly-buys-5-million-mansion-in-cambridge.html

#36 Camille on 08.23.18 at 6:31 pm

Hello Hooray. Thank you for the most elagant post. Interest rates at six teens. Where were you in sixty-eight… In Sixty-eight Julie was Johnny’s date. Love those songs.

#37 Democracy Is Mob Rule on 08.23.18 at 6:32 pm

#6 James on 08.23.18 at 4:17 pm
Trump will simply be a footnote in history as the foulest president to ever grace the halls of the white house.
_____________________________________________

Meet the Trump of Ancient Rome

Populism has a long and colorful history that stretch back in time to the beginning of the end of the Roman Republic.

For most of its history, the Roman Republic was governed by old political families and reliable power brokers who knew how to keep the masses in line.

The man who ultimately brought down the system was a wealthy and ambitious nobleman named Publius Clodius Pulcher, a populist demagogue who refused to play by the rules.

What Clodius’s critics failed to realize was that he was smart, determined and very much in touch with the frustrations of the common people.

He became the king of the Roman streets and unleashed a populist uprising unlike anything the Republic had ever seen.

Rome’s ruling classes had no idea how to control Clodius, whom they continued to despise.

The ruling classes stood by dazed and helpless as control of the state they had run for centuries slipped from their hands.

But though Clodius had been killed, the populist forces he unleashed remained very much alive and they quickly found new champions — most notably Caesar.

Caesar’s murder on the Ides of March was followed by a revolt that destroyed, once and for all, the power of the ruling classes. An autocratic Empire arose, and the Roman Republic vanished forever.

https://www.huffingtonpost.com/philip-freeman/trump-rome-populist_b_9659660.html

#38 ALFRED E. NEUMAN on 08.23.18 at 6:33 pm

I’m not sure how this new transparency will quell the silent auction gong-show Garth, but agree it can’t hurt.

Just recently, I witnessed at no-street-appeal bungalow in the swan city (but with a very well done inside reno) and an Ask of 539K, go through the “blind auction” drumroll, .. with the losing bid coming in at 32K above Ask and the winning bid in at 39K above Ask.

BUT get this: – the winner had also enclosed a note saying they would pay $5K over all other competing bids, up to a limit-high of 650K (or 111K over..!!).

I’d never heard of such an addendum being added to the bidding-war process. And as much as I was/am appalled at all the over-Ask frenzy, I was impressed with the imaginative caveat attached to their Offer.

I sure hope the “sunshine” awareness helps to reduce or end the worrying insanity and the incendiary hype.

#39 akashic record on 08.23.18 at 6:34 pm

#6 James
You radiate more hate in your daily rants than any current politician. It is more dangerous to your health than smoking and drinking combined.

#40 Mike on 08.23.18 at 6:47 pm

So, when is Zillow/Redfin coming to canukistan?

5years.

Keep renting till then.

#41 Zapstrap on 08.23.18 at 6:49 pm

This will give Flopper a lot more time on his hands.

#42 Penny Henny on 08.23.18 at 6:55 pm

#26 bdwy sktrn on 08.23.18 at 5:41 pm
o/t
costco new record AGAIN – 230/share
who bought when i was pumping it at 150-160?
/////////////////

I wish I did. Just like I wish I bought Dollorama at $35 when it was m favorite store.
the prices are too high now, not as busy as they used to be. maybe time to sell/ short/ put?

#43 IHCTD9 on 08.23.18 at 6:56 pm

#26 bdwy sktrn on 08.23.18 at 5:41 pm
I stand corrected, YVR is totally safe from any 9.0+ mega thrust earthquake, or monster tsunami that may come down the pipe. All ill effects will be eliminated by Vancouver Island.
=———————-
no tsunami threat at all.
even in the one in a billion chance the 9.0 hits, not in the cascadia zone, but hundreds of km away from said zone, in the non seismically active georgia straight just off yvr, we are still 98.5% safe.
i don’t know if you ever spent time here but other than richmond it’s quite/extremely hilly. (a walk up from the ocean in kits/east van/.n van/westside etc will pass 65′ in a few blocks or less.

bigger chance of the city being destroyed by an asteroid than a tsunami.

is california RE is now nearly free since there have been several big shakers there over the years?

i felt over 100 quakes in one year in tokyo. felt only one here in 24 years. the japanese did not run around like chicken littles like many here love to do.
——-

The last time the Cascadia slipped the fault line was mid Vancouver Island. There would be a big wave, but maybe not tsunami level due to lack of time to shore. Coastal structures would still get wiped out.

Whatever the tsunami potential is, a 9.0 mega thrust would be an epic disaster all on its own. Oh, and chances are 100%, it’s just a matter of how long. Estimates range from 50-200 years, but it could happen tomorrow.

Last time (1700) the thrust was 66 feet, kiss your concrete foundation good bye if that happens again. Even if the house still stands, it’s 100% a tear down.

The last time California had a big quake was 112 years ago. Thousands of structures were demolished by the shaking and subsequent wild fires, 3000 people died, and 80% of the city of San Francisco was destroyed. It registered 7.9 and the thrust was only 20’. SAN Fran had only 410,000 people in it back then, 50% less than Vancouver does today.

I know no one knows when it will hit, but it is indeed well overdue. It may be that you will live out your life and never see it happen, but I would not underestimate the catastrophe that this kind of quake will be.

The city of Vancouver itself says that when the big one hits, to expect 10,000 dead, 128,000 injured, and 30% of the city totally destroyed.

That would make it not only the worst disaster ever in Canada, but the single largest disaster in all of North America ever recorded.

It’s no joke.

#44 akashic record on 08.23.18 at 7:03 pm

Capitalizing on the Western mythology of “fighting for human rights”.

https://www.zerohedge.com/news/2018-08-22/inside-americas-meddling-machine-max-blumenthal-exposes-taxpayer-funded-regime

#45 Out Of Work CEO, Will Travel on 08.23.18 at 7:03 pm

A vote for Maxine Bernier is a vote for Trudeau; have to side with Garth on that comment.

You need a strong stomach for the game of politics or have eyes in the back of your head. Let’s all send Conservative Leader Andrew Scheer an “Ignore him card”.

#46 Ex-Cowtown on 08.23.18 at 7:06 pm

This week the US president, now implicated in a crime by his former personal lawyer, was the subject of impeachment talk. – GT

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

And what crime would that be? Trump is perfectly free to spend as much of his cash as he wants on whatever he wants. Paying people to shut up is a time honored tradition the world over. It’s called a Non-Disclosure Agreement. No crime there.

The fact that Trump was in an election is equally meaningless as the candidate can spend literally billions of his own cash on his own campaign if he wants to. No crime there.

And on top of it all, the US has a “Dual -Use” clause in their campaign finance laws. It specifically states that it’s OK for a candidate to spend money on something that he was going to do anyway, and if it also ends up benefiting his campaign, no problem. In this case, Trumps sleaze-ball track record actually protects him, as he has a history of paying people to shut up. No crime there.

Cohen plead guilty to something that wasn’t illegal. Why? because that was his ticket to walking on all the stuff that was illegal. Brilliant play on his part.

Mueller….another schwing …. and a miss….

#47 Ronaldo on 08.23.18 at 7:08 pm

#6 James

What’s with the constant bleating against the president of the U.S.A. We get the message. You don’t like the guy. The fact of the matter is he has done more in the short time he’s been in office than most presidents have in their entire term. CNN is getting to you. Time to change the channel. Your’re starting to sound worse than my sister.

#48 Ronaldo on 08.23.18 at 7:10 pm

#39 akashic record on 08.23.18 at 6:34 pm
#6 James
You radiate more hate in your daily rants than any current politician. It is more dangerous to your health than smoking and drinking combined.
—————————————————————–
Indeed. The guy has it bad.

#49 Timmy on 08.23.18 at 7:12 pm

So how soon will we see a corresponding change in the regulations in BC in light of the ruling on Toronto?

#50 Smartalox on 08.23.18 at 7:17 pm

If the markets implode the day Trump gets impeached, it’ll be because Putin decide to cash his stolen millions out of wall street.

#51 LP on 08.23.18 at 7:17 pm

Re the blow today to TREB

When we bought our first re-sale house in 1973 it was customary for the RE agent to give out an information sheet to any prospective purchaser. It was quite small, maybe 6 inches wide by about 4 inches high. The information on it was vast: listing date, length of listing, complete name(s), address and telephone number of the seller, most recent realty taxes, outstanding mortgage and mortgage interest rate, square footage and room measurements plus a whole lot more.

Anyone my age (I’m a senior) who was in the market in and around Toronto will back me up about this.

When did all that information become such a big secret?

#52 Millennial905er on 08.23.18 at 7:36 pm

“Vote Bernier.

A vote for Bernier is a vote for Trudeau. – Garth”

We’re not children. Don’t fall for this nonsense. Bernier 2019!!

It’s called vote-splitting. – Garth

#53 AK on 08.23.18 at 7:40 pm

“This week the US president, now implicated in a crime by his former personal lawyer, was the subject of impeachment talk.”
=====================================
Well, according to Lanny Davis, (Cohens Lawyer), Cohen “Dos not” have any information that trump knew about the meeting.

https://twitter.com/RealSaavedra/status/1032571581468307461

#54 Smoking Man on 08.23.18 at 7:47 pm

Just sold Toronto report is back…link below.

http://tosolds.ca/the-just-sold-report-is-back-to-stay/

#55 S.Bby on 08.23.18 at 7:57 pm

My take on Trump is he’s had a series of strokes over the last number of years and that’s affected his reasoning and personality. He certainly talks like someone who’s had a brain injury.

I do think he could be impeached; there are too many guns against him. Or he will have a medical issue and have to resign.

#56 crowdedelevatorfartz on 08.23.18 at 7:59 pm

@#39 akashic Record
“more hate in your daily rants….”
+++++

Geez, Hate does have some great one liners on tv..

If it wasnt for hate….. Ricardo Montal”Kahn” wouldnt have the best answer for “No Kirk! I dont want your help”!

https://www.youtube.com/watch?v=VYPsoxpt0BU

#57 Long-Time Lurker on 08.23.18 at 8:02 pm

#23 WestCan on 08.23.18 at 5:32 pm
Hey guys & gals,

Sorry for off topic but… Am soliciting your thoughts – I realize this is a ridiculous place for getting financial advice, but hey what the heck.I am setting up my etf (6 months in) and am wondering if I should consider etf’s like VUN or VFV as US denominated holdings, or strictly use funds priced in USD.

I do not really like buying funds that only hold other funds – these hold 100% of holdings in their US counterparts VOO and VTI – but at a much lower entry price they will be easier to manage come rebalance time.

Any reasons I should prefer the US market version or the CAD market version (or vice versa) would be appreciated.

I like the funds, need some passive indexing to balance out the active stuff, and if I buy the CAD versions I can rebalance the US-CAD denomination ratio in other ways.
Cheers and many thanks.

>I did a quick look at some of those ETFs. VFV is S&P, CAD unhedged. It’s counterpart is VSP which is CAD hedged. VUN is US Total Market unhedged. It’s counterpart is VUS which is CAD hedged. What that means is the CAD-hedged price won’t fluctuate with the CADUSD rate. They’re holding US dollars in the ETFs to keep the price roughly the same in CAD. I didn’t look but I don’t think those ETFs are US dollar denominated.

By the way, that VFV S&P is heavily weighted in FANG.

Yeah, I looked VUN is in CAD not USD. If you get US denominated ETFs, you’re going to be paying some sort of commission when you convert the USD to CAD and vice versa.

You also have to figure out paying your US taxes on the US ETFs.

#58 the Jaguar on 08.23.18 at 8:03 pm

What a gem of a photo today. The great lioness surrounded by her secret shepherd service.
And what a sh_t show in Halifax. Bernier’s last desperate grab at the brass ring just when Scheer was struggling to squeeze out any small bit of personal charisma he might have been hiding to attract the support of canadians. Mercy. Time to shine the bat signal into the night sky hope for the arrival of a hero. I liked Nigel Wright. Can’t we get him back? All is forgiven. ( we all knew who was really to blame, anyway).

#59 David Paquette on 08.23.18 at 8:03 pm

I really don’t enjoy finding groups to lord over and I don’t pity the knowledgeable fool – the ones who have more money than brains. I ask myself how this is possible. There are many possible answers but not putting your brain to work doesn’t help. Yeah, I think many are looking for a hero is an answer. Oh, my from my youth but I still like the Rocky Horror Picture Show. I can respect other views and talent. I also liked this –

https://www.bing.com/videos/search?q=i+need+a+hero+youtube&qpvt=i+need+a+hero+youtube&view=detail&mid=81D22EBE0ED08187C0F781D22EBE0ED08187C0F7&&FORM=VDRVRV

I pulled the first potatoe I have ever grown. It is sad it may the first and last. It is so puny. There is always tomorrow and I am betting on it. I will send my daughters a picture just to make them laugh. They may be type B’s but they have spine.

I wonder about what makes a good con. I have anger issues here. At the end of the day, I don’t think blaming others for your problems or doing worse is a good idea – karma. Worse is hanging your problems on someone else – life has never been fair. I know it is poor comfort waiting for justice to be served. My advice is move on and let time determine. There are few reasons for you to be bitter and cold to your grave but I believe there is a porpoise and jerks will pay later. As for “Gunga Din”, read the poem.

#60 S.Bby on 08.23.18 at 8:06 pm

Trudeau continues to piss of other country’s leaders:

https://globalnews.ca/news/4401595/philippines-duterte-questions-trudeau-history-politics/

Not every other country operates like our nation’s greatest “human rights” ideologue. And he cost us $300 million to boot.

#61 AB Boxster on 08.23.18 at 8:07 pm

Vote Bernier.

A vote for Bernier is a vote for Trudeau. – Garth

———————————–
Likely.

But frankly, the Conservatives of today are pretty much the same as the Liberals, except that they believe slightly less in identity politics and might spend less.

They really hold no true conservative thoughts or values as described by Bernier.

Sheer, quite frankly, over the past 2 years, has been pathetic.

Trudeau and the liberals have been such an incredible disaster for this country and yet Sheer can’t seem to find a single issue to hammer them on?

Not on illegal immigrants?
Not on supply management?
Not on taxation?
Not on spending and budget?
Not on bizarre behavior of our feminist PM?
Not on 457 references to gender in the last budget?
Not on the nonsensical Diversity is Strength?
Not on Bill 69?
Not on NAFTA incompetence.
Not on Saudi Arabia stupidity?
Not on national energy policy?
Not on carbon taxes?
Not on business competitiveness?
Not on business investment in Canada?

Michelle Rempel’s recent presentation on immigration strategy was the first real policy coming from the Conservatives in the past 2 years that made any sense.
And even it was likely precipitated by Bernier’s recent tweet on diversity.

Right now the Conservatives are just another party, with no real ideas or values that they can describe.
The best that they can present is:

‘Hey, we’re not led by an idiot like Justin Trudeau.’

No, but you’re a party led by a guy like Scheer, who has no actual position on anything of importance.

Why do you think that Trump won?
He won because he actually put forward positions that resonated with voters.

Hilary’s entire campaign was base on two things:
1. Trump is a buffoon and his supporters deplorables.
2. She was a Clinton, a woman, and it was her turn.

Trump’s campaign
1. Build the wall and reform Immigration system
2. Better trade deals for America – bring jobs back from overseas
3. Reduce taxes – business and personal
4. Make America Great Again (ie get people back to work and stop apologizing to the world for being the USA

Now you might not like the messenger.
But the message was exactly what the America electorate wanted to hear.

Why did Ford win in Ontario?
1. Fix the electrical system.
2. Listen to parents in regards to schooling
3. Reduce the out of control spending and debt

In Canada in 2014, style won over substance.

T2 has shown himself to be a pretty boy with all kinds of style (gee just look at all his great costumes in India) and not one iota of substance.

Canada is ready for some substance.

Four years of Sheer would be a welcome change from the virtue signalling, identity politics and race baiting of the current Liberals.

But don’t confuse “not being the Liberals” with being a party of any real conviction or substance.
Or of dealing with the issues based upon convictions of principle or intelligence.

Scheer does not seem have it in him.

His reply to Bernier today was frankly atrocious.

And the fact that a few hundred liberal milk farmers buying conservative memberships, were able to push Sheer over the top to beat Bernier, shows how morally bankrupt Sheer truly is.

Bernier’s comments on the Conservative party’s bizarre support of supply management in the face of NAFTA failure, and to support a few thousand rich diary farmers over a few million Canadian consumers, and Sheers sad response that Maxime is a ‘bad guy’ just shows how far the party has sunk.

It might just have been T2 giving the response.

Same diff.

And a vote for Bernier ensures you will get Trudeau. – Garth

#62 S.Bby on 08.23.18 at 8:08 pm

#49 Timmy

This info is available in BC now through rew.ca

#63 Calvin on 08.23.18 at 8:10 pm

Citizens of Canada, call upon Justin Trudeau to be held to the same standards as he has set for his caucus.

-Canada is committed to protecting the rights of women from any forms of sexual abuse, harassment or discrimination;
-Our current government is committed to promoting a “feminist” agenda, in both policy and budget, and has adopted a clear zero-tolerance approach in dealing with allegations of sexual misconduct against Members of Parliament;
-On the Prime Minister of Canada’s official website, it is made clear that any form of sexual misconduct against women is “unacceptable”;
– Four Liberal Party of Canada’s Members of Parliament have resigned or been removed from caucus over alleged sexual misconduct since Justin Trudeau became the party leader in 2013;
-The office and position of the Prime Minister of Canada should be held to an even higher standard than other Members of Parliament or caucus members;
-In televised statements, Justin Trudeau has stated that women who make such allegations should be supported and believed, and that the rules of appropriate conduct applied to him as well as to other politicians;
-Allegations of sexual misconduct against Justin Trudeau and his dismissive attitude toward them are both unacceptable and have resulted in a loss of confidence in him by the citizens of Canada; and
-Failure of elected members of the current government to condemn the aforementioned alleged sexual misconduct will result in a loss of confidence in them by the citizens of Canada.

https://petitions.ourcommons.ca/en/Petition/Details?Petition=e-1787

#64 bobs ur uncle on 08.23.18 at 8:12 pm

#46 Ex-Cowtown on 08.23.18 at 7:06 pm

Yes trump can self-donate, but he’d have to report it – which he did not, as that would be counterproductive when paying hush money.

BUT – it wasn’t trump who made the stormy payoff – was the trump organization.

Just cause it has his name on it, it ain’t the same thing.

#65 Bytor the Snow Dog on 08.23.18 at 8:32 pm

Garth sez:

“A vote for Bernier is a vote for Trudeau.”
—————————————————————
Didn’t you mean “a vote for Sheer is a vote for Trudeau”? Because their platforms are the exact same. Carbon tax, feminism, eek-wally-tee.

No thanks. Bernier it is. The Conservatives need to smarten up.

#66 KLNR on 08.23.18 at 8:39 pm

@#55 S.Bby on 08.23.18 at 8:06 pm
Trudeau continues to piss of other country’s leaders:

https://globalnews.ca/news/4401595/philippines-duterte-questions-trudeau-history-politics/

_____________________

LOL, what’s duterte going to do, take all the Philippino nannies back?

#67 Built to Spec on 08.23.18 at 8:42 pm

Derek Hunter “Where are the Crimes?”

first paragraph:

“It was Christmas in August for liberals on Tuesday when Paul Manafort was convicted on 8 of 18 charges and Michael Cohen pleaded guilty to tax, bank, and campaign finance violations. Suits were soiled with glee at all the left wing activist organizations – the DNC, DSCC, DCCC, CNN, MSNBC, etc. They all collectively thought they’d “nailed Trump” because the two men were associated with the president. One thing no one seems to understand, or more importantly hope their audiences don’t understand, is that none of what transpired Tuesday actually implicates Donald Trump in a crime of any sort.”

read the rest:

https://townhall.com/columnists/derekhunter/2018/08/23/where-are-the-crimes-n2512008

Derek Hunter is a Trump hack. Besides, we don’t care what happens to POTUS. It’s the effect on markets that matters. – Garth

#68 Linda on 08.23.18 at 8:44 pm

If – when – the Cascadia fault line ‘lets go’ most of the west coast seaboard, right down to California, will be impacted. While many coastal regions have evacuation plans in place, the truth is that a full bore release will leave thousands dead & one big mess to clean up. Kind of difficult to ‘evacuate’ if one is trapped beneath piles of rubble & even more difficult when a lot of the roads & bridges have been destroyed.

Historical accounts of the last time Cascadia let loose do not fill me with much optimism about how a much more populated area will fare. Depends on whether there are any warning signs & whether people take heed of them.

#69 Tony on 08.23.18 at 8:45 pm

Re: #55 S.Bby on 08.23.18 at 7:57 pm

The world’s elite will step everything up several notches to prevent a re-election of Trump in 2020. How he even got elected in the first place no one will ever know. Sometimes bad things happen for no apparent reason. I guess it was written in the biblical scriptures and some crap to do with Jerusalem. It’s gotten to the point where people need a psychological assessment before they should be allowed to vote.

#70 CBass on 08.23.18 at 8:49 pm

Garth

Been reading your blogs from the weeds for close to ten years now. Love it. Had the chance to take the family out on an east coast road trip. Visited Lunenburg. Saw an old green dome in the background and wondered off to take a look. Wanted to let you know the outside of your offices looks great. I really thought the large wooden door was a great finishing touch. In exchange for years of free financial advice I wanted to say “nice digs”.

I will now return to the weeds. Look forward to posting my next comment in 2028.

Cheers,

Random Guy from Ottawa

#71 TurnerNation on 08.23.18 at 8:50 pm

I’m buying Nasduck and Dowager index kaputs ahead of the Trump Bump stump hump jump dump.
Harrump.

#72 Damifino on 08.23.18 at 8:52 pm

Things have not been going too well for Justin in the last little while. This Bernier business must have put smiles on a lot of faces at the PMO.

#73 Jimbo on 08.23.18 at 8:59 pm

The banks have two types of growth. The number of mortgages when rates are low and the interest due when rates go up… Their growth is about to accelerate with new rates.
$400,000 mortgage in 2015 at 2.54% interest owed $141,000 plus or minus $300. $47,300 in interest in first 5 years so $94,000 remaining over the 20 years.
Rate jumps to say 4% on remaining balance of $338,916 about $61,000 in equity without price appreciation.
You now owe $154,000 in interest over 20 years. Not bad a 64% gain for the bank in asset with a 1.46% rate jump. Let’s look at 5 year jump instead.
If you kept your rate the same the next 5 years cost you $38,805 in interest but at new rate your interest costs will be $61,193 or a jump off 59%.
What ever way you slice it their growth is about to JUMP.

#74 DD on 08.23.18 at 9:01 pm

A few comments above cheering on Bernier, and calling Scheer Liberal Lite. Fiscally this is not true. The CPC would repeal the carbon tax and ensure that taxes like capital gains and dividends won’t rise. They may even give small businesses a break after Morneau’s on-going assault. Sure Bernier would offer all of the above and more, but he is likely to scare off the average suburban swing voter. This is not a good day for Red Tories and Blue Liberals.

#75 Tony on 08.23.18 at 9:04 pm

DELETED

#76 will on 08.23.18 at 9:04 pm

“The Supreme Court has told the Toronto Real Estate Board to get stuffed, that it won’t entertain any more delays in the realtor’s losing battle with the federal Competition Bureau.”

That’s great. However we observe that this is only happening after all the yuge and bigly money has already been made. The goal all along was to turn a largely deindustrialised economy into a real estate economy. The rape is over, time to move on.

#77 Ryan on 08.23.18 at 9:07 pm

“A vote for Bernier ensures Trudeau” I guess we wait and see, people said the same things about another election to the South of us, they all have egg on their face. Scheer and Trudeau seem completely the same to me, both soft nice guys, and completely spineless. Trudeau isn’t running the country, his wife is, just look at her body language. Some people are tired of spineless leaders. It will be interesting to see how his campaign goes, it was depressing to see him lose the leadership for the Conservative Party. The fact that our media is already going for his throat says something. Things are actually getting interesting for a change, I have my popcorn.

Politics is mathematics. If you want the governing party out, don’t divide the vote. What part of that don’t you understand? – Garth

#78 dr talc on 08.23.18 at 9:20 pm

people, the government that outsourced the land registry data, compiled on the tax payers dime, you now have to pay for access to it, says that that treb, which is private, should give it away for free and you all cheer like a bunch of little girls
what a bunch of brainwashed Marxists.

#79 NFN on 08.23.18 at 9:22 pm

Hey Garth,

I had been a long time reader of your blog but took a break for a while. At one point you were touting preferred shares quite a bit. I am doing fine in other areas but I am taking a hit there, and with rising interest rates aren’t they going to take a further hit?

Should I dump them and eat the loss? Did I miss the posts about selling them years ago? I’m in for the long haul but I also don’t see value in holding a losing stock. Advice?

Sounds like you have the wrong preferreds. – Garth

#80 Yorkville Renter on 08.23.18 at 9:24 pm

MAGA – Mueller Ain’t Going Away
MAGA – My Attorney Got Arrested
MAGA – May Actually Get Away

Couple things here…

It’s a campaign finance violation because the payment is ‘in-kind’… doesn’t matter that Trump used his money to pay it back… If I rob a bank and my dad pays the bank back, it’s still a robbery.

When Clinton was President, the current VP said simply lying to the public about a consensual affair was grounds for impeachment- different rules for your own team? Bunch of hypocrites! And people like Pence are NOT religious- what a farce. Nor are they about ‘law and order’. despicable.

If the market reacts, it would be temporary anyway

#81 akashic record on 08.23.18 at 9:26 pm

#56 crowdedelevatorfartz on 08.23.18 at 7:59 pm

@#39 akashic Record
“more hate in your daily rants….”
+++++

Geez, Hate does have some great one liners on tv..

My father never allowed tv in our home.
Maybe ha wasn’t interested in one liners.
Neither I am in hate, one liner or volumes.
It’s an energy that triggers sickness. Best to be shielded from it with all efforts.

#82 Remembrancer on 08.23.18 at 9:29 pm

#38 ALFRED E. NEUMAN on 08.23.18 at 6:33 pm

I sure hope the “sunshine” awareness helps to reduce or end the worrying insanity and the incendiary hype.
—————————————————————–

I get the release of data gives new opportunities for aggregation and use of the data for research-type business models, Zillow types etc, but blogdogs, help me out here, how does knowing a house listed for $539K and sold for $578K going to reduce the cost beyond maybe, someday the commission being paid to a realtor ™ now?

The silent auction going nuclear and emptying the tubes bully bid type scenario A.E.N describes isn’t going away if you have two or more parties who want the same piece of dirt/chip board castle and aren’t afraid to (over) pay for it…

#83 AK on 08.23.18 at 9:30 pm

#61 AB Boxster on 08.23.18 at 8:07 pm
“Sheer, quite frankly, over the past 2 years, has been pathetic.”
=====================================
Not a big deal.

Harper and the Conservatives will prep Sheer before the election.

Plenty of time to get him ready. T2 will not have a second term, especially after the Quebec incident.

#84 islander on 08.23.18 at 9:36 pm

How about YVR??
“Sold prices, Listing and re-listing dates, Price changes, Days-on-market, Pending and conditional sales information, Assessments, property taxes and more’
Good luck finding the above in BC with a couple of clicks.

#85 JSS on 08.23.18 at 9:37 pm

CIBC dividend increase

Rub tummy. Again!

#86 WillD on 08.23.18 at 9:39 pm

Scheer = 2nd coming of Tim Hudak

#87 Ex-Cowtown on 08.23.18 at 9:46 pm

#64 bobs ur uncle on 08.23.18 at 8:12 pm
#46 Ex-Cowtown on 08.23.18 at 7:06 pm

Yes trump can self-donate, but he’d have to report it – which he did not, as that would be counterproductive when paying hush money.

BUT – it wasn’t trump who made the stormy payoff – was the trump organization.

Just cause it has his name on it, it ain’t the same thing.

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

Now you’re just making stuff up. The only way Trump might have to report it is if it was a campaign contribution. But it wasn’t. It was business as usual thing for the orange reprobate, so it was just agarden variety NDA. No crime there.

Of course it was Trump’s money. If it wasn’t his then whose was it? He owns the corporation, therefore it’s his. Again, no crime.

I’m having a tough time seeing where the criminality in here is. So far it looks to me like:

1. Trump has a crapload of cash. (no crime there)
2. He spends it on what he wants. (no crime there)
3. There are no reporting rules, and even if there were, he’s still onside with them (no crime there).

The only reason it looks hinkey is because Cohen confessed to doing something that wasn’t illegal. He might as well have confessed to Commissioner Gordon that he was driving 59 in a 60 zone. Confess if you want, but it doesn’t mean that a crime occurred.

You must have excess time on your hands. – Garth

#88 Mojo Nixon & Skid Roper on 08.23.18 at 9:47 pm

I hate banks, just can’t stand ‘em
Give me a shovel and man I’d plant them
6 feet under is where they belong
I hate banks is the name of this song

http://lyrics.wikia.com/wiki/Mojo_Nixon_%26_Skid_Roper:I_Hate_Banks

#89 Built to Spec on 08.23.18 at 9:52 pm

Re: #67

Derek Hunter is a Trump hack. Besides, we don’t care what happens to POTUS. It’s the effect on markets that matters. – Garth
– – – – – – – – – – – – – – – – – – – –

Not sure what you mean by “hack”. Derek Hunter is a respected political commentator, one of many, who is particularly good at pointing out the lies, misrepresentations, hypocrisy etc. of the democrats, media, and others. “Hack” seems like an appropriate word for the political/media types discussed in the article.

I think we should care what happens to the POTUS. The U.S is the most powerful country and we are all affected by what happens there. Removing a duly elected president from office for no other reason than he’s not acceptable to an elite, while certainly affecting the markets, would have serious and profound effects on society and civil order, to say the least.

#90 pay your taxes on 08.23.18 at 9:55 pm

#59 David Paquette

I pulled the first potatoe I have ever grown”
*******
David Paquette or Dan Quayle?

#91 Reality is stark on 08.23.18 at 10:00 pm

All this talk about the Democrats winning the midterms is garbage.
If Trump is effective with his trade negotiations and gets some concessions the Republicans will carry through the midterms.
The Democrats lost their way throwing gender issues to the forefront. American females want men with jobs and will vote for a candidate who at least looks like he is fighting to preserve as many jobs as he can.
It would serve the Democrats well to find a hard nosed economist who is a moderate to fight a narcissist like Trump.
Any man with nerves of steal can make Trump look like a fool.

#92 Bottoms_Up on 08.23.18 at 10:14 pm

Massive day for Canadians. The future looks bright. Data data data baby.

#93 akashic record on 08.23.18 at 10:18 pm

And a vote for Bernier ensures you will get Trudeau. – Garth

Maybe, but people seem to think that Sheer is not a real alternative of Trudeau, they are two, almost identical products, marketed slightly differently, owned by the same tired global company that nobody is excited about.

We don’t care what happens to POTUS. It’s the effect on markets that matters. – Garth

That’s not exactly how elections were won lately.

Politics is mathematics. If you want the governing party out, don’t divide the vote. What part of that don’t you understand? – Garth

That is true generally and it was true until very recently, when Brexit, Trump, Giuseppe Conte upset the standard equations, though they were never supposed to win, mathematically.

I don’t know much about Bernier, but if he is significantly different from Sheer and Trudeau, he may have a shot, that’s what the past two years demonstrated repeatedly.

#94 Where's The Money Greedo? on 08.23.18 at 10:22 pm

Re: #62 S.Bby on 08.23.18 at 8:08 pm
#49 Timmy

This info is available in BC now through rew.ca
+++++++++++++++++
Yeah, only available if you give them all your info and register.
So they want your info to sell to someone else, thereby trying to pick your pocket this way.
I will out EVERY website and realtor who is attempting this scumbag move…..
Beware realtors, better clean up your act, we’re coming!!!!!

#95 ANON on 08.23.18 at 10:34 pm

Markets don’t tumble just because they’ve soared. That’s a myth.

It could very well be. However, the money to cover the valuations simply does not exist in physical form. If it did, we’ll all be hauling wheelbarrows and using 1.000.000+ dollar bills. The soaring/roaring is merely the imagination of more into the future. At some point, the realization that the money isn’t there, must come.
Otherwise, the “lost” money would be found somewhere, if one looked hard enough…
At least that’s my narrative, and I stick with it, because it explains the observations. :)

#96 Ex-Cowtown on 08.23.18 at 10:35 pm

You must have excess time on your hands. – Garth
++++++++++++++++++++++++++++++++++

Not really, but friends don’t let friends suffer from TDS (Trump Derangement Syndrome).

#97 FOUR FINGERS WATSON on 08.23.18 at 11:01 pm

Predictions are really hard right now, especially about the future……i get it about vote splitting, but if DOUG FORD got elected in Huntario is Bernier really such a stretch of the imagination ?

#98 Democracy Is Mob Rule on 08.23.18 at 11:10 pm

And a vote for Bernier ensures you will get Trudeau. – Garth
It’s called vote-splitting. – Garth
______________________________________________

Alberta did even better. They got NDP.

#99 Lorne on 08.23.18 at 11:25 pm

#52 Millennial
“Vote Bernier.

A vote for Bernier is a vote for Trudeau. – Garth”

We’re not children. Don’t fall for this nonsense. Bernier 2019!!

It’s called vote-splitting. – Garth
………
Which is the only reason the Conservatives have ever managed to achieve a majority government (commonly with less than 40% of the vote) because all the other parties on the left, have split the left leaning vote and have allowed the Conservatives to sneak in. That seemed to be just fine with many Conservatives, but now, when it appears that the same thing can easily happen on the right, well, concern sets in big time!

Too bad Trudeau did not follow through and gotten rid of our archaic electoral system FPTP and replaced it with his promised PR….this “vote splitting” would now not be as much of a concern for the right.

#100 Bobs ur uncle on 08.23.18 at 11:44 pm

#87 Ex-Cowtown on 08.23.18 at 9:46 pm

You’re right. Paying off a porn star a week before the election *had nothing to do with the campaign*.

How could I have been so stupid? Thanks to your boundless wisdom I have seen the light. A million thanks.

It’s just like when he’s flying his big plane around – he did that all the time before the election, so if he does it during the election, that’s not campaign related either. He would never claim all the fuel he burned as a campaign expense right? So simple!!

I also have a great deal on some trump university courses if you’re interested in learning more about his secrets to real estate success.

#101 BS on 08.23.18 at 11:55 pm

#61 AB Boxster on 08.23.18 at 8:07 pm

Well said. Agree 100%. Scheer is a dud. Maybe we have to have 4 more years of Mr. Dress up to get the corrupt Scheer out and bring together a new right wing party led by Bernier. Makes me want to puke to think of 4 more years of T2 but 4 years of Scheer does not seem much better.

#102 will on 08.24.18 at 12:05 am

#6 James

“Trump will simply be a footnote in history as the foulest president to ever grace the halls of the white house.”

I think Trump will go down in history as the president during whose campaign the people finally repudiated the msm.

#103 BS on 08.24.18 at 12:08 am

Politics is mathematics. If you want the governing party out, don’t divide the vote. What part of that don’t you understand? – Garth

Well, then for the good of the country Scheer should make a deal with Bernier to hold another leadership race if he commits to not starting his own party. Scheer was voted in by non Conservative dairy farmers. He should have never been the leader. He has proved that since he took power.

#104 Yorkville Renter on 08.24.18 at 12:32 am

#87 – I steal $10k, my friend finds out and pays it back – so the theft never happened.

same logic as what you’re saying.

Cohen used HIS money, to kill the story. Trump paid Cohen back. That was their arrangement. The crime was Cohen paying for it first. If it was OK for Trunp to do it, why did he ask Cohen to borrow money against his home, only to pay it back (with extra $$$) after the election?

I guess Trump was short on cash at the time… probably didn’t have any assets to borrow the cash himself?

#105 Hairhead on 08.24.18 at 12:38 am

Just a comment on the Cascadia quake.

Earthquake geoscientists are basically going around with their hair on fire (in a rational way, of course) about the Cascadia quake because of information accumulated over the last 30 years. What they have found out is this: that the 9.0 quake of 1700 is only the last in a series of quakes going back several thousand years with an extremely consistent periodicity of 300 years. Basically, the clock has been ticking since 2000. And the geoscientists are REALLY worried that the 9.0 will happen sometime soon.

And as for effects: well, for Vancouver, it won’t be a tsunami, it will be 90% of Richmond’s soil and half of the dirt in the Fraser Valley turning into jello and swallowing all of the condos, office buildings, and towers built in the last 80 years.

And in Vancouver itself, all the particle-board condos will simply be shaken to flinders.

I am planning to move.

#106 Dolce Vita on 08.24.18 at 1:37 am

A good day for RE sale price transparency in TREB land.

I was struck by the Trump discussion today both for and against in light of the main theme of the Blog today.

I am with you in that I do only care about the effects of Trump’s policies on Cdn. GDP (hence Maple returns). He has the power (e.g., Auto Tariffs) to remove the livelihoods of +100,000 hard working men and women in ON whose only sin is, well, just that. Why he is to be taken seriously. The economic fall out from such a tariff is unthinkable.

Garth, there are enquiring minds out there not satisfied with solely the financial theme of the Blog and they post their understanding of the man and his motivations, good and bad.

Yes, tedium to the financially focused and after all, this is YOUR BLOG at a dear cost to your political career (so much for free speech and informing the electorate); hence, the sensitivity on your part on straying to far off topic.

There is Twit-ter for that.

But scolding (e.g., for having time on their hands) not the best response. Recall the last words on your web site banner:

“…and The Road Ahead.”

Easy enough to interpret as green light crystal ball social-political commentary.

– – – – – – – – – – – –

PS: I had the best laugh at your response to

#19 confused:

“You certainly live up to your name.”

That was classic laconic Turner wit and humor, one of the many reasons I read your Blog every day.

Mercifully, I had just finished swallowing the last sip of my Espresso Lungo this AM in Italia and thus saved myself the indignity of having to wipe that from my PC screen (as one Commenter had put it hilariously a year or so ago? – besides yourself Garth, there are some classic Comments that percolate from this lively Blog creation of yours).

#107 Where's The Money Greedo? on 08.24.18 at 1:49 am

Guess they have 60 days to do it. The Competition Bureau said on tonight’s news that they expect ALL real estate sites-agents to abide by this ruling.
So it still remains, after 60 days I will be checking and outing EVERY real estate agent-site that doesn’t comply!
You have been forewarned……
Hope there’s more deplorables going to check…….
Let’s make it a game, shame them all….

#108 loaner on 08.24.18 at 1:49 am

Interesting to note impaired residential loans at CIBC went from 1 to 8 to 21 million over the last two years respectively.

#109 Oft deleted much maligned stock picker on 08.24.18 at 2:45 am

My guess is that RBC will split soon followed by BMO….tasty. They are expanding in the US and soon the balance sheet will be reported in USD and Canada will be an afterthought. Buying more RY with new cash….BMO with dividend income….actually gorging…..like a pig.

#110 Educate me! on 08.24.18 at 3:10 am

I am an aircraft engineer and have been able to make mortgage payments for a detached house and a semi-detached in Aurora which were bought exactly a year ago. I am renting the semi-detached and I live in the other one. Should I be worried about their future Garth?

#111 jane24 on 08.24.18 at 3:16 am

Sometimes Garth your daily contribution seems to stretch a subject, a slow news day but there is enough meat on this blog for 3 others. As an old RE agent I could never understand how so much info could be legally hidden and that was 30 years ago. Now the chickens will come home to roost big time. Good.

#112 canuck on 08.24.18 at 3:49 am

Politics is mathematics. If you want the governing party out, don’t divide the vote. What part of that don’t you understand? – Garth
_______________________________________________

What part don’t you understand? Sheer, the current version of Joe Clark, is no leader. The CPC needs to be slapped, like the Alberta PC’s were last election. They’ve lost their way and it’s supporters have had enough.

For as much as you hate Trump, he won because people have had enough of the status quo. It’s also why Notley and Ford were elected.

Sheer has the leadership qualities and personality of a doorknob. He has nothing to offer and like an alcoholic, the party has to hit bottom and rebuild.

As someone who has voted in every Federal election since 1980, I will withhold my vote before I vote for a party that think Sheer is the answer… even if it means another 4 years of our current embarrassment.

#113 David Paquette on 08.24.18 at 5:00 am

RE: #90 pay your taxes on 08.23.18 at 9:55 pm
#59 David Paquette
I pulled the first potatoe I have ever grown”
*******
David Paquette or Dan Quayle?
———————–

I will use ‘pomme de terre’ in the future.

#114 Karl on 08.24.18 at 6:26 am

What is it with everyone wanting their political leaders to be entertaining? This isn’t The Bachelor.

These people run countries and thus are in charge of providing security, service and well being to all their citizens … and you guys want a professional wrestler character?!

Andrew Scheer is intelligent, level headed and very well spoken.

#115 Wrk.dover on 08.24.18 at 6:59 am

#103 BS on 08.24.18 at 12:08 am

Well, then for the good of the country Scheer should make a deal with Bernier to hold another leadership race if he commits to not starting his own party. Scheer was voted in by non Conservative dairy farmers. He should have never been the leader. He has proved that since he took power.

————————————

That is going to happen the same day that US cons. admit that it does matter that Russians put their guy in the White House, so therefore a new election should be called stat, off schedule.

#116 Howard on 08.24.18 at 7:15 am

#37 Democracy Is Mob Rule on 08.23.18 at 6:32 pm
#6 James on 08.23.18 at 4:17 pm
Trump will simply be a footnote in history as the foulest president to ever grace the halls of the white house.
_____________________________________________

Meet the Trump of Ancient Rome

————————————————

Who would be the Trudeau of Ancient Rome? I’d say Elagabalus.

#117 Guy from MTL on 08.24.18 at 7:42 am

Hey Garth,

Quick question… What does that mean for us in Quebec ? With a ruling like that from the supreme court, I would assume all the association would have to release the information… But all I’m seeing is TREB will have to release the info, no mentions of other provinces.

Would the competition bureau have to sue all the association for them to release it… ?

Thanks!

#118 Bytor the Snow Dog on 08.24.18 at 7:57 am

@61 AB Boxster- Great comment.

#119 crowdedelevatorfartz on 08.24.18 at 8:23 am

@#114 Educate Me!
“I am an aircraft engineer and have been able to make mortgage payments for a detached house and a semi-detached in Aurora which were bought exactly a year ago. I am renting the semi-detached and I live in the other one…..
++++++

You mortgaged both at the peak…..
Not to worry.
You’re about to be taken to school…..

#120 crowdedelevatorfartz on 08.24.18 at 8:35 am

@#81 akashic record
“My father never allowed tv in our home.”
+++++
I didnt realize you lived such a monastic existence.
Its ok.
You can watch tv now. It wont steal your soul.
Video Games do that.

#121 crowdedelevatorfartz on 08.24.18 at 8:41 am

@#105 Hairhead
“And in Vancouver itself, all the particle-board condos will simply be shaken to flinders.”

+++++
With thousands dead, billion of dollars in insurance claims, the world economy at its knees……
I just want to know one thing.
What’s a flinder?

#122 Remembrancer on 08.24.18 at 8:46 am

#51 LP on 08.23.18 at 7:17 pm

When we bought our first re-sale house in 1973 it was customary for the RE agent to give out an information sheet to any prospective purchaser. It was quite small, maybe 6 inches wide by about 4 inches high. The information on it was vast: listing date, length of listing, complete name(s), address and telephone number of the seller, most recent realty taxes, outstanding mortgage and mortgage interest rate, square footage and room measurements plus a whole lot more.

Anyone my age (I’m a senior) who was in the market in and around Toronto will back me up about this.

When did all that information become such a big secret?
—————————————————————

Having both bought in the last 7 years and sold in the last 2 years in the GTA, LP – that type of listing and comparable sales information is available to the realtor (TM) and by extension to their clients only its web page links now, not info cards :-).

Both seller and buyer parties should be making informed decisions on this major transaction – not a emotional free for all fueled by HGTV dream renos, house FOMO and enabled by banks and mortgage companies approving you up to KD (w/o wieners mixed in) 3 meals a day levels of debt that you have no business taking on to the 100% of approved…

But I digress, IMHO the major winners for this freed up information are disrupters looking to compete with incumbent sales models which funnel the vast majority of house transactions to the MLS crowd which charge sellers 5%-ish transaction fees for the privilege today, big data aggregators who mine it for whatever statistical model they want to sell and busy bodies, er concerned citizens, who want to know how much Madge down the street got over / under her listing price (which was available on realtor.ca while unsold already) so they can compare with theirs and talk endlessly about paper RE gains…

What I don’t see is how this even begins to reduce prices in a market of blind / silent bid auctions or even if every RE transaction bid was on eBay for that matter for all to see, how it eliminates the emotional (or cold calculating) over bidding to “win” the sale…

#123 Remembrancer on 08.24.18 at 8:53 am

#121 crowdedelevatorfartz on 08.24.18 at 8:41 am

What’s a flinder?
————————————————————–

Dude, its 2018…

Hey Google, define ” flinder”

flin·ders.
[ˈflindərz]

NOUN

flinder (noun)

small fragments or splinters.

“the panel has been smashed to flinders”

synonyms: sliver · shiver · chip · shard · needle · fragment · piece · bit · shred · spell · spillikin · shaving · paring · matchwood · flinders · skelf · gallet · spall

Cool word Hairhead BTW, Garth’s pathetic blog is not just good for financial / RE literacy, its good for literacy literacy too!

#124 Maybe Scheer is the right leader on 08.24.18 at 9:01 am

There is a certain type of conservative that has had limited success in Canada. They are sometimes red Torys and they are reasonable people who are able to speak their minds without offence or taking offence if they are opposed through debate. Intelligent, concerned for the well being of all, and generally possessed of the charisma of a wet blanket. They think, they focus on what is important, they seek balance. They are a good check against the rampant forces of greed and ignorance that, at times, seem to take over the general population.

Our esteemed blog host, he is cut from that broad cloth. He did a good job as an elected member of parliament and had we the electorate not been hoodwinked by the extremely egotistical and horse’s rump Harper then we might have had the benefit of Garth Turner’s continued public service.

Is Andrew Scheer a good choice for Prime Minister? In my very limited view, I am starting to think that if we are ever to escape the creeping madness that seems to define public debate these days, and the subsequent horrific decisions, we have to find that middle path, where people think and consider all aspects of a problem. I want to see if Scheer is the kind of leader. And I think Scheer would benefit from taking counsel from Garth Turner.

And no, my name is not Bandit.

#125 David Wilson on 08.24.18 at 9:22 am

116 Howard on 08.24.18 at 7:15 am
——————————————————-

All we are saying-
Is give Elagabalus a chance.

#126 Happy Housing Crash Everyone! on 08.24.18 at 9:30 am

You dirty filthy SHYSTERs are trying to say information will not lead to lower prices? Lol now the SHYSTER of SHYSTERS board can not make up sales numbers and everyone will see prices are falling and houses are sitting on the market for months. No need to bid at ask cause thr seller is desperate.

Happy Housing Crash Everyone! :)

#127 X on 08.24.18 at 9:32 am

And a vote for Bernier ensures you will get Trudeau. – Garth

Bernier came across as remarkably self centered, and self involved in his press conference yesterday. Had he tried to portray himself as inspired or seeking some higher quality of living for Canadians, he may have won more people over. Instead, he seemed bitter, and not much of a team player for his previous party.

#128 Smoking Man on 08.24.18 at 9:33 am

Conrad Black hits one out of the park.

https://amgreatness.com/2018/08/24/trump-has-already-won-on-impeachment/

#129 Millennial Realist on 08.24.18 at 9:38 am

GOD BLESS MAXIME!

We love you Maxime!

You will create a rift in the neocons that will guarantee Liberal and NDP governments across the country for generations!

Speak your truth, you alt-righters, support Maxime!

And Millennials will come to power even faster ;)

Lovin’ it!

#130 Y. Knott on 08.24.18 at 9:45 am

A vote for Bernier is a vote for Trudeau. – Garth

– Most terribly sadly, Amen. We’ve seen vote-splitting work-out in the Liberals’ favour before, and they know how to play that game; wouldn’t surprise me if Horwath benefitted from a Liberal dollar-or-two. She fooled all my relatives – and didn’t fool me but unlike them, I’m not an Ontario resident so I didn’t vote there.

Really hope Scheer has something up his sleeve; seen no sign of it to date. At least Maxime will be less shy about attacking the P.M. during the upcoming election cycle, but that won’t do the Conservatives much good…

#131 TRUMP on 08.24.18 at 9:59 am

Those who control the supply of money and credit have the final say.

We are all just peasants and pawns living in the Kindom’s reality show.

#132 Adam on 08.24.18 at 10:16 am

So much misunderstanding.

#49 Timmy on 08.23.18 at 7:12 pm

Immediately. This sets a precedent that board-operated MLS systems must share sold prices via a feed with their members and not prevent them from publishing such numbers on their websites

#62 S.Bby on 08.23.18 at 8:08 pm

This info is available in BC now through rew.ca

Not exactly. The info on rew.ca comes from provincial land registry records, and does not show MLS-entered changes like price changes, or status changes (think withdrawn/cancelled listings). Although that will change very soon.

#94 Where’s The Money Greedo? on 08.23.18 at 10:22 pm

It’s highly unlikely that any brokerage will be allowed to share sold prices/intra-listing price/status changes without requiring “verification” of the person they are sharing it with – think, signing up with a verified e-mail address.

Any websites that are currently showing this information without requiring a login (i.e. housesigma) will either be shut down (as soon as people can figure out who’s running it) or change at some point in the near future.

#133 Adam on 08.24.18 at 10:21 am

#117 Guy from MTL on 08.24.18 at 7:42 am
Hey Garth,

Quick question… What does that mean for us in Quebec ? With a ruling like that from the supreme court, I would assume all the association would have to release the information… But all I’m seeing is TREB will have to release the info, no mentions of other provinces.

Would the competition bureau have to sue all the association for them to release it… ?

Thanks!

=======

This ruling set a precedent. No CREA member board in the country will attempt to restrict it’s members access to sold prices via a RETS feed, like they have been up until now (except in Nova Scotia, as Garth pointed out).

#134 Howard on 08.24.18 at 10:35 am

#129 Millennial Realist on 08.24.18 at 9:38 am
GOD BLESS MAXIME!

We love you Maxime!

You will create a rift in the neocons that will guarantee Liberal and NDP governments across the country for generations!

Speak your truth, you alt-righters, support Maxime!

And Millennials will come to power even faster ;)

Lovin’ it!

————————————————-

You clearly have no idea what a neocon is because Bernier certainly ain’t it. Quit embarrassing yourself using terms you don’t understand.

#135 conan on 08.24.18 at 10:39 am

” a vote for Bernier is a vote for Trudeau.” – Garth.

Major fracture in the Conservative Party. It could also be a vote for a better Conservative Party. Anyone who thinks the boys from Alberta did good job is on Krakatu.

The Liberals were going to win the next election anyway. Now it looks like they may be in play for at least a decade.

#136 WestCan on 08.24.18 at 10:41 am

#57 Long-Time Lurker on 08.23.18 at 8:02 pm

* * *
Thanks LTL, sometimes I just need a new perspective & direction on where to direct my research. I appreciate it.

I am holding in my TFSA so I think the taxes are all sorted, there is also the US withholding tax on dividends. But after more research based on your comments I will focus mainly on etf’s in the Canadian Market denominated it USD to get a 80:20 CAD to USD balance in the portfolio.

Thank you for your input. I will now go make my own decisions like a grown-up.

#137 Duke on 08.24.18 at 10:57 am

#18 Stan Brooks on 08.23.18 at 5:12 pm
#17 Linda on 08.23.18 at 5:00 pm
So how long before transparent real estate information is available to the public

Dear Linda. Transparency in Canada?
What an oxymoron.

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

You are absolutely correct.

#138 SimplyPut7 on 08.24.18 at 12:20 pm

#126 Happy Housing Crash Everyone! on 08.24.18 at 9:30 am

Welcome back.

Also you can now see how much the properties were leased for, no more pretending the rent from tenants can cover the cost of owning the condo/house.

For example, there is a home in Oakville that wants $1.6 million, it has been sitting on the market for 46 days but has been actively trying to sell since March 2017. The current owner paid $1.099 million in 2014 but hasn’t been able to lease the property for more than $4,300 a month. In 2012 (before the current owner) it was leased for $4,500 a month.

Let the landlords figure out how they will pay for all of the costs associated with owning a home in a rising interest rate environment. If they paid too much for a home in comparison to what the current market rent in the area goes for, it’s not the tenant’s job to make up the difference.

Happy Housing Crash Everyone!

#139 NotLegalAdvice on 08.24.18 at 12:24 pm

Spoke to a realtor bud of mine yesterday. I was telling him the SCC decision has been made. He thinks this won’t really impact his sales at all. I asked how much he’s sold this year? 0 listings reported.

#140 Fish on 08.24.18 at 12:35 pm

Average Canadian mortgage nears $200K, up 5% in a year

https://www.google.ca/amp/s/www.cbc.ca/amp/1.4256026

#141 Roial1 on 08.24.18 at 12:40 pm

#116 Howard on 08.24.18 at 7:15 am

Who would be the Trudeau of Ancient Rome? I’d say Elagabalus.

Typical of the Neo-con Stupidity.

To equate a devoted family man to a debased teen aged Roman sexual deviant. (emperor at 14 killed at 18)

You shame all Conservatives.

Whoever you support should deny they would accept your vote.

#142 Dissident on 08.24.18 at 12:40 pm

“It’s a drag being a disintegrating wrinklie. And moisterdom is no picnic. But hitting 40? Terror. No longer young. On the path to being old. Expected to be adult – mired in career, house, marriage, family, mortgages, prenups, pension plans, tat removal, dental crowns, daycare, glasses, budgets, a minivan. Ayee!

You can be young, poor and still cool. You can be old, impoverished yet mercifully pitied, supported. But at forty life’s just one massive ball of expectations. Besides you may sag a little. Lose some hair. Dread a class reunion. Middle age. How the hell did that happen?”

This is the sound of a millennial turning 38 y-o next Monday:

“AAAAAAHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH”

If you’re all wondering, yes, that’s me. Looking back, I can’t believe I thought turning 25 was scary. Little did I know.

#143 Dissident on 08.24.18 at 1:06 pm

Also, I thought it was really funny when I saw our office’s “Lunch and Learn” subject as “Learn about Real Estate” – from a licensed real estate professional, of course.

Most plebs would see this as a ‘learning opportunity’ about how and why they should buy real estate, but I saw that as the blatant sales pitch that is was – a shameless attempt to drum up more clients in a lagging market, in front of a captive audience.

I almost wanted to sign up for the free lunch and a chance to heckle the guy (read: ask pointed questions that challenge his obvious thesis for buying), but I didn’t.

#144 Millennial Realist on 08.24.18 at 1:34 pm

Poor Howard, such a complete doofus.

But your neocon ranting in support of outdated Boomer nostrums (and sadly, real hateful bigotry that has nothing to do with Boomers, just you) is a great example of just why millennials will be taking the helm of everything very, very soon.

Go away, bozo.

#145 Ubul on 08.24.18 at 1:56 pm

Data transparency is good, the game changer impact is yet to be seen. Not at the beginning of a downturn, but on the long run. Zillow in the US certainly did not eliminate real estate bubbles. Information is hardly abundant if there is a proven, measurable impact on lowering real estate prices. If it does, we don’t know by what percentage.

The industry worldwide is positioning for the future with more available data.

https://www.inman.com/2016/08/01/democratizing-data-toward-real-estate-transparency/

https://www.forbes.com/sites/cognitiveworld/2018/07/11/openhouse-ai-disrupting-real-estate-through-transparency/

#146 Howard on 08.24.18 at 2:06 pm

#144 Millennial Realist on 08.24.18 at 1:34 pm
Poor Howard, such a complete doofus.

But your neocon ranting in support of outdated Boomer nostrums (and sadly, real hateful bigotry that has nothing to do with Boomers, just you) is a great example of just why millennials will be taking the helm of everything very, very soon.

Go away, bozo.

—————————————————-

Rant? That describes your post, not mine. All I did was suggest you refrain from using words and terms you don’t understand. I know gender studies degrees aren’t difficult, but don’t they force you to read things?

I’m not even close to being a Boomer and despite what the Hitlerian illiberal Left wishes, political opponents will not go away or be silenced.

#147 Blacksheep on 08.24.18 at 2:10 pm

“a vote for Bernier is a vote for Trudeau.” – Garth.
———————————————–
No worries…

Max B. will not get the support to start another party in 19 months. As pointed out many times by you Garth, political leaders are voted out, not in. (Harper/Christy)

The backlash against Justin’s, bumbling miss management of anything he touches, has every person I know (young and old) chomping at the bit to vote his ass out of office.

I think Max B’s public shaming of Andrew Scheer will force the now, too neutral pandering conservative leader to return to the right a bit and address some of the issues Max has raised.

———————————————–

The new forced disclosure by TREB, will have little effect for anyone that is actually serious about buying RE. My realtor already emails me a daily hot list with all these details for a certain area I’m watching.

This info is already available for the asking from whatever realtor your working with.

———————————————–

There is no denying D. Trump is a highly flawed individual, but anyone that refuses to recognize the obvious agenda of the system and it’s attempt to remove a democratically elected POTUS by any means necessary, is simply not being honest with themselves.

Trumps lawyer’s confessions on these nothing issues is going nowhere. What happened to Muller’s, Russian collusion?

This all reeks of desperation.

Time to fire some of these assholes and get on with the running the country until the next presidential election comes round. Then, If the populace then wants him gone, vote him out. It’s called democracy, for what is worth.

#148 Howard on 08.24.18 at 2:10 pm

#141 Roial1 on 08.24.18 at 12:40 pm
#116 Howard on 08.24.18 at 7:15 am

Who would be the Trudeau of Ancient Rome? I’d say Elagabalus.

Typical of the Neo-con Stupidity.

To equate a devoted family man to a debased teen aged Roman sexual deviant. (emperor at 14 killed at 18)

You shame all Conservatives.

Whoever you support should deny they would accept your vote.

—————————————————-

Elegabalus also enjoyed playing dress-up, in his case in women’s clothing.

#149 MF on 08.24.18 at 2:13 pm

#144 Millennial Realist on 08.24.18 at 1:34 pm

Pretty sure Howard is a millennial like us though.

And I actually believe in a lot of neo-con philosophies.

MF

#150 AB Boxster on 08.24.18 at 2:17 pm


And a vote for Bernier ensures you will get Trudeau. – Garth.

—————————————–

Probably so.

It’s far easier to pretend to be sort of principled, or to compromise one’s core values and beliefs, when the going gets tough, or when its in one’s own interest or when the polls indicate it.

It’s tough to be principled in your own personal life and the business world can provide ample opportunity to betray basic principles.

As you well know Garth, staying true to your principles often gets you nowhere. But I suspect you don’t regret standing by your principles in politics, despite the end result.

At the end of the day you have to be able to look at yourself in the mirror and have some personal self respect.

Many could care less about this.
To others it’s pretty important.

Bernier’s comments indicate that he has a number of strong principles that he believes in. It will likely result in a personal political disaster for him.

I have to respect someone who puts things on the line to describe, debate and argue his core principles.
His ideas are not out of mainstream conservative thought, and frankly addressing these issues would make Canada a better country.

‘Diversity is Strength’ is not a principle.
It is a meaningless slogan that has no basis in fact or reality, other than to drive an identity based agenda.

Sheers actions to win the leadership, and his complete lack of any expressed values, indicate a person with few real principles other than to beat the Liberals.

If beating the Liberal government the only principle worth fighting for, then Canada is already lost, and not really worth fighting for.

Max is probably the biggest opportunist I have encountered in federal politics. I know him. I suspect you do not. – Garth

#151 AB Boxster on 08.24.18 at 2:29 pm

#144 Millennial Realist on 08.24.18 at 1:34 pm

But your neocon ranting in support of outdated Boomer nostrums (and sadly, real hateful bigotry that has nothing to do with Boomers, just you) is a great example of just why millennials will be taking the helm of everything very, very soon.

——————————-
That will be interesting to see.

It will be a hoot to see if your generation can get out of their parents basement long enough to find a real job, and to stop whining about how hard done by you are, and actually start solving some of the real issues that are important to citizens living in the world.

Hint: not Social Justice, Gender Equity and World Peace, identity politics, gender confusion, virtue signalling, safe spaces

I suspect that your efforts to ‘take control’ will be stymied by your complete lack of understanding of issues in the real world, and that Gen-z will just run you over to make the actual real changes needed.

#152 crowdedelevatorfartz on 08.24.18 at 2:37 pm

@#123 Remembrancer

“re flinder”
+++++
Egads old bean.
I knew not what yon word meant.
Alas I stand, gobsmacked, like a cuckolded guttersnipe singing
Weep for me.
I knew not what a flinder is, was or will be.

#153 Happy Days on 08.24.18 at 3:32 pm

There are so many reasons this information will benefit the public. You will be able to see how many times the present seller has listed it, if the price went up or down each time, how many days it was ‘really’ on the market right from day 1, what they paid for it, the entire history of the property, what the neighbours sold for, their property history. It’s magical. You can say that your RE agent already gives you this info but I doubt that very much. They give you little nuggets to shut you up or steer you away from the bad smell. Happy Days!!!

#154 Jeremy Peterson on 08.24.18 at 4:06 pm

Re: #84 islander

myrealtycheck.ca provides price change data for the Lower Mainland and Victoria.

A sea of red downward arrows.

#155 Gravy Train on 08.24.18 at 5:49 pm

#146 Howard on 08.24.18 at 2:06 pm
“… [A]nd despite what the Hitlerian illiberal Left wishes….”

Huh? The left is by definition liberal, and Hitler was about as far-right (alt-right) as you can get!

You and Smokey both need to take a first-year political-science course. I suspect you’ll both fail the course, but at least you’ll both be required to crack open a book. :)

#156 NEVER GIVE UP on 08.24.18 at 6:27 pm

26 bdwy sktrn on 08.23.18 at 5:41 pm

I think that the most likely scenario or danger for the Lower Mainland is Mount Baker which is a volcanic Mountain. As well as others in the area. Look at Mt. Saint Helens.
I wonder how far into Langley or the Lower Mainland the pyroclastic flow will extend incinerating us all?
Better keep those engines running!

#157 AB Boxster on 08.24.18 at 7:02 pm

Max is probably the biggest opportunist I have encountered in federal politics. I know him. I suspect you do not. – Garth

–—————————-
You’re 100% correct on that point.

I did not say I would support him or a party he leads.

It’s just kind of nice to hear someone actually express some conservative values in this country other than at the notification level like Kenney and Brad Wall.

Would have been nice to hear some from the Conservative party of Canada lead by Scheer.

With only a year to the election I have yet to hear any compelling reason to get out and vote for them other than he’s better than T2.

I think that it is better to actually have a plan you can present, defend and deliver on. I think the electorate is hungry for some real substance. Especially after the circus of T2.

Trump shows that if the electorate likes your platform, that they are willing to forgive your other faults.

Well unless you are unhinged Democrats or Hillary loving media.
Trump could have been the second coming of Jesus Christ and they would still try to crucify him again for beating the virginal and pure Hillary.

Scheer has yet to shown any inkling of substance thus far.

Which is really pretty pathetic.

#158 akashic record on 08.24.18 at 7:04 pm

#120 crowdedelevatorfartz on 08.24.18 at 8:35 am

@#81 akashic record
“My father never allowed tv in our home.”
+++++
I didnt realize you lived such a monastic existence.
Its ok.
You can watch tv now. It wont steal your soul.
Video Games do that.

No worries, it wasn’t all that bad. We had over a thousands books at home to kill time. Four houses down was the residence of the American ambassador, his son was my age, we became friends by climbing fences. We enjoyed sneaking into the garden parties at the French and Japanese ambassadors residences down the street.
The US marines could have rescued us, but none of these could make us escape from getting our souls stolen, before people started to play video games.

#159 Blake on 08.25.18 at 12:50 pm

Joe; Move out of the GTA
I’m always amazed at the options for living elsewhere on this planet and the length people stretch to buy a house in the GTA. I fall victim to wanting to be here and being afraid to quit my job and move where I really want to. I’ve stayed in beach houses in Goa for $350 per month, eating and drinking on the beach all day for $20, fresh produce and beautiful weather….and then I return home to a house that triples it’s value after 10 years and see others living in “poverty” because they buy the same house down the street….but Canada is the best place in the world to live I get told…..I have 15 years until retirement at 55 and then I’m outie!

#160 NEVER GIVE UP on 08.25.18 at 3:45 pm

#159 Blake on 08.25.18 at 12:50 pm
Joe; Move out of the GTA
I’m always amazed at the options for living elsewhere on this planet and the length people stretch to buy a house in the GTA. I fall victim to wanting to be here and being afraid to quit my job and move where I really want to. I’ve stayed in beach houses in Goa for $350 per month, eating and drinking on the beach all day for $20, fresh produce and beautiful weather….and then I return home to a house that triples it’s value after 10 years and see others living in “poverty” because they buy the same house down the street….but Canada is the best place in the world to live I get told…..I have 15 years until retirement at 55 and then I’m outie!

====================================
Canada is the second most boring country in the world next to Singapore!
Although I think in Singapore you can voice your opinions without losing your job!
I’m working on leaving as well.
With the uncontrolled use of computers we now cannot even change our opinion. For example if you wanted to run for office in the future and you said something controversial online in the past it will be used against you!
Total Police State.
I wish there was a movement to delete all old comments and history so people could be human again!