Revenge

“Why do you hate real estate?” Alyssa wrote on the weekend. “My husband reads your stupid, yes – pathetic – blog every day, even at night aloud when I’m trying to go to bed. I’ve had it with you because if we don’t buy a house now, we never will. You hate real estate. Well I hate you.”

Poor A. Unable to dominate her hubs, get her way and embrace debt because of a blog. Yet another household where I’ll never be invited over for dinner.

The message here – live a balanced, diversified existence, don’t risk everything on one asset, borrow little, stay liquid, always have a Plan B, don’t buy or sell on emotion and remember that enjoying time, not owning a house, is the goal of life – is lost on most. They don’t care. They just want. And these days everyone craves real estate.

The good news is that buying’s about to become easier, more transparent, less stressful and perhaps even cheaper. It may be hard to understand how much the real estate landscape is about to transform, since we’ve lived for decades in an industry-designed fog of hazy information and emotional turmoil. Bidding wars, bully offers, blind auctions, over-asking, FOMO, phony pricing and rockstar realtor arrogance have made this process into a dangerous gamble laced with adrenalin and sheer panic. It sucks. This is no way to make the biggest purchase of a lifetime, sitting in a car in the dark waiting for some snickering agent to emerge from meeting with greedy sellers with a demand for more money.

They deserve everything they’re about it get.

A brave decision by the nation’s top law court has nixed the Toronto real estate cartel’s fight with the Competition Bureau to keep its data secret. Soon lots of sites will be brimming with things never before seen in the open. Days on market. The complete sales history of a property. Comparative values in a neighbourhood. Listing and re-listing dates. Prices changes. Ask and sold values. Everything. Right down to the undies.

“The real estate industry has wasted far too much time and money on ill-conceived strategies to undermine brokerages that wanted to bring real consumer opportunity, transparency and restored confidence to the real estate marketplace,” one of those tell-all sites (previously sued into oblivion by the realtors) said on the weekend. “The Toronto Real Estate Board now has to wake up and stop carrying the water for its dwindling group of change resistors. Instead of fighting to block innovative initiatives, TREB must now start helping its members work with tech-savvy buyers and the new consumer expectations. TREB’s leadership has been forced to start listening to the fresh new voices that can bring real improvement to its protectionist culture.”

So, Alyssa, here is some of what this will mean.

First, agents can no longer hide key information on the saleability of a property. For example, how old a listing may be is key to understanding the potential motivation of the seller. If it’s been on the market for months, the vendor is probably getting more motivated and willing to consider a lower offer. If it’s fresh, a bargain is unlikely. And a place that hasn’t sold over a long period of time suggests (a) it’s the wrong price with a snowflake seller or (b) there’s something wrong with it. So, look at the DOM (days-on-market).

Second, re-listing a property is a fav trick of realtors. By simply cancelling a listing for an unsold property and creating a new one, they’ve been able to reset the DOM clock. That means the house pops up on your realtor.ca search as NEW! while obscuring the fact it may be a pooch. Now all listings, re-listings and altered prices will be visible.

Third, you’ll see what current owners paid (and when) and know if they are reasonable, ravenous or flippers. Is a big jump in value because of renos and improvements, or just greed? If the property has changed hands multiple times, you’ll know what others paid and how long they lived there. Look funny? Ask why.

Fourth, the new transparency will show if a property’s valued fairly for the hood. Soon you’ll find sites doing what Zillow has for years in the US or Viewpoint in NS – displaying past MLS or property registration data on houses that are not for sale. Hopefully this will help end the despicable realtor trick of pricing a property vastly below market value just to engender a bidding war so it sells for a premium. Now everyone can see what it should reasonably fetch.

Fifth, universal access to accurate, timely, relevant and essential information will discipline the real estate market as it does the stock market. Suddenly the wild claims, fake news and repeated exaggerations of people claiming an investment condo can give you a 35% ROI or their listing “sold for 98% of ask” (after the price was secretly reduced) can be seen for what they are. Informed sellers using real-time alerts, mobile apps and subscribing to non-sales, third-party sites can browse and research the market without having a realtor control the data, massage the message or influence them into dumb, emotional decisions. The result: a functioning market based on truth. How refreshing.

So, Alyssa, I don’t hate real estate. But I hate what it does to people. And I love this.

Good night.

167 comments ↓

#1 WillD on 08.26.18 at 1:43 pm

Will this info have a discernable effect on prices?
The only thing this does is give you access to “comparables” but since all those comparables were bought at such high valuations, that seems to be the new normal. What is the catalyst to decrease home prices?

#2 Bernie Happychuck on 08.26.18 at 1:46 pm

First! Sell real estate and buy preferred shares and rent!

#3 waiting on the westcoast on 08.26.18 at 2:03 pm

Amen

#4 BlorgDorg on 08.26.18 at 2:09 pm

“I don’t hate real estate. But I hate what it does to people.”

Exactly that. The crazy distortions of the past decade have brought out the worst in people. But what a year 2018 has been already. September onward is going to be mind-blowing for the masses.

#5 Sure you can. on 08.26.18 at 2:12 pm

Alyssa,

Sure you can buy.
If you have a $6M stock portfolio, surely Garth would have no objections to selling $2M of that portflio and trade it for a big house.

If you have little wealth and have to go deeply into debt, you’ll do best by listening to Garth’s ‘No.’
Just let it collapse more before you jump in.

#6 Financial Orchid on 08.26.18 at 2:14 pm

It’s nice and relaxing to read the news in a casual manner on Greater Fool on a Sunday morning over some tea and cinnamon bun. Secretly feeling thankful I’m not a tenant anymore watching rents rise for Sep numbers.

and First.

#7 Andrewski on 08.26.18 at 2:14 pm

I can’t imagine trying to research any ETF’s, Funds or individual stocks without the ability to read about past history or current news to compare with similar investments!

#8 Andy on 08.26.18 at 2:16 pm

Let’s get this party started!

#9 Mike on 08.26.18 at 2:29 pm

It will take years to get all that info for places like AB BC SK. So, those from above provinces better buy now.

I emailed viewpoint and asked when they might show up in SK and AB. They said government registeries are not as open as in NS, so they can’t replicate NS.

#10 Jungle on 08.26.18 at 2:50 pm

How did it work out for all the people who did buy?

#11 Lawnboy on 08.26.18 at 2:53 pm

Well……there goes the neighborhood, again!

http://www.cbc.ca/news/world/jacksonville-florida-mass-shooting-1.4799655

LB

#12 Xpat on 08.26.18 at 2:55 pm

#9 Mike on 08.26.18 at 2:29 pm
It will take years to get all that info for places like AB BC SK. So, those from above provinces better buy now.

I emailed viewpoint and asked when they might show up in SK and AB. They said government registeries are not as open as in NS, so they can’t replicate NS.

Surely you are trolling?

I’ve pulled a few houses on BC Assessment and compared…the Vancouver market is in huge trouble. Anyone who bought in 2017 is already underwater. A few desperate sales and the price drops will accelerate. People will tighten to try and service their mortgages but give it time… BTW, I’m not really happy about this… a lot of people are going to get hurt.

For the investors, other than shorting consumer discretionary’s and HCG what’s the play here? Long DOL?

#13 Chimingin on 08.26.18 at 3:00 pm

Alyssa sounds as mature as her name. Billy sitch.

#14 Lost...but not leased on 08.26.18 at 3:10 pm

My experience with several RE cycles…

They seem to start, build a momentum, which grows especially with FOMOS ( and this includes pre-Asian influence aka 1970’s).

MSM magnifies this (what a coincidence !!!) showing lineups and bidding wars.

Like any bubble…it eventually ends….and RE then enters a cold, dark age of hibernation. In BC in the early 1980’s prices dropped 50% +.

It can take years, even decades for the RE market to grow again. The classic irony is people complain re prices….but nobody buys when the haircuts start and things get even “more affordable”.

Circa 2018…classic RE phases are occurring. Prices have not only stagnated…they have plateau’d and are on the downward swing…including the “Canary in the RE mine” called Strata.

#15 BobC on 08.26.18 at 3:12 pm

The message here – live a balanced, diversified existence, don’t risk everything on one asset, borrow little, stay liquid, always have a Plan B, don’t buy or sell on emotion and remember that enjoying time, not owning a house, is the goal of life – is lost on most. They don’t care. They just want. And these days everyone craves real estate. – Garth

Do you have to be over 60 to appreciate the genius in this? Everybody should print this and tape it on their bathroom mirror and read it every morning.

#16 Zapstrap on 08.26.18 at 3:14 pm

Will we ever see Tom Vu again?

#17 domain on 08.26.18 at 3:28 pm

As I read this Garth, I was hoping you would get to a mention of how this will expose the fraud that has been perpetrated.

Just think of the back-calculations and revisions to all of those bs stats that could be performed if one were to gain access to these databases raw data. It would be a work of art, and for many it would be a lesson in the value of objective thinking, but in hindsight.

#18 Fish on 08.26.18 at 3:29 pm

pic, I never seen anything like that, wow!!

#19 Sam P on 08.26.18 at 3:37 pm

Great Blog. Need some advice, I have a property in Moncton, Nb which I am not getting offers. I need some advice whether I should hang on to it or let it foreclose.

#20 LovethisBlog on 08.26.18 at 3:52 pm

Alyssa’s husband is trying to communicate that he does not want to buy in an inflated market. Smart man.

If she doesn’t start listening, I see divorce in her future. Then she will really see what hard times are.

#21 Stan Brooks on 08.26.18 at 4:05 pm

Transparency will be brought to the housing market only when is too late. the party is over and the crash is looming just in front of us. This is Canada after all.

Alyssa, first make 1 million, then save one million with your own labour and then decide whether a glass condo or 60 % of a cardboard particle home is worth that effort.

Bottom line: you will never ever buy and simply move on/out which will be a pretty good thing for you in long run.

You crave that house only because it is expensive and gives you a ‘status’ in a not-free, brainwashed, retarded society.

Once you see the matrix for what it is, you will change your view and values/hopefully. You will realize that by playing by the rules you are becoming an insignificant, obedient and pretty much doomed part of a greater design who sees you only as a disposable slave labour/it is the Empire club and the truly rich elite that matters, you do not matter.

If not, good luck in trying to keep up with an ever increasing it’s speed treadmill.

#22 DM in C on 08.26.18 at 4:08 pm

#15 – “Do you have to be over 60 to appreciate the genius in this? Everybody should print this and tape it on their bathroom mirror and read it every morning.”

No, you don’t. We’re 47. We divested ourselves of the big McMans in Calgary in March. Currently renting a smaller place from a serious landlord. Putting 50% of our salary into registered and non-registered investments monthly.

Writing this from a patio near Munich, and we have two more weeks here touring Europe.

Life is about experiences, not finishing the basement.

#23 Stan Brooks on 08.26.18 at 4:10 pm

#20 LovethisBlog on 08.26.18 at 3:52 pm
Alyssa’s husband is trying to communicate that he does not want to buy in an inflated market. Smart man.

If she doesn’t start listening, I see divorce in her future. Then she will really see what hard times are.

————————————-

She just wants to nest. Society is putting unbearable burden and pressure on her and she just want her ‘deserved’/average/normal place in this society.
Being independent in this place is not easy. Watch ‘One flew over cuckoo’s nest’.

She is actually a victim of a greedy and corrupted beyond any measure political and financial elite who will just chew and spit her up.

#24 waiting on the westcoast on 08.26.18 at 4:11 pm

#16 Zapstrap on 08.26.18 at 3:14 pm “Will we ever see Tom Vu again?”

LOL – I miss Tom Vu and his luxury yacht with babes…

The melt is building momentum in Victoria. MYREALTYCHECK.CA is showing faster price drops…

Alyssa – my spouse and I have had a number of discussions on whether to buy or not. Best thing to do is go back to math. The numbers tell your what to do…

#25 Balraj Dhalandar on 08.26.18 at 4:16 pm

How much real estate do you own Garth? Both residential and commercial properties?

A balanced amount. No debt. – Garth

#26 Dave on 08.26.18 at 4:16 pm

But will this reveal that “cash back at closing” that seems to becoming more popular?

#27 Troy McClure on 08.26.18 at 4:17 pm

Alyssa’s obligatory suck-up needs some serious work.

#28 Musty Basement Dweller on 08.26.18 at 4:19 pm

I wonder when sites like Zillow and Viewpoint might start appearing for Vancouver real estate. Can anyone hazard a guess on that?

#29 saskatoon on 08.26.18 at 4:28 pm

There was a reality part?

–Doug

this is the most disturbing comment i have ever read on garth’s blog.

yes, there was a reality doug: 2977 humans lost their lives.

#30 Gravy Train on 08.26.18 at 5:17 pm

#28 Musty Basement Dweller on 08.26.18 at 4:19 pm
“I wonder when sites like Zillow and Viewpoint might start appearing for Vancouver real estate. Can anyone hazard a guess on that?”

Don’t know—but when that day happens, Floppy will have to shut down his new Web site, and will then have the time to spend with his wife and family. Do you suppose he’ll just find some other ‘OCD/ADHD’ time-wasting activity? Do you suppose Floppy still reads Garth’s blog? I guess I’ll find out soon enough! :)

#31 Bagle Volume on 08.26.18 at 5:23 pm

Garth, should we be getting concerned about the yield curve soon or is it just noise?

Worry about what you can control. The yield curve isn’t one of them. – Garth

#32 Danny on 08.26.18 at 5:24 pm

Alyssa….hope you become a good consumer before you buy the most expensive item of your life.

I am sure that when you buy fruit at the grocery store you consider feel, price smell, appearance and not just your urge?

And also do you always merely buy the most expensive shampoo or consider the right shampoo for your hair type by reading the labels….even though the print is tiny.

Garths 5 points are not written in small print….so consider them one by one carefully and realize that when you buy a house you give big money and they receive big money.

Garth is not in competition with the housing market…but is just saying over and over…..that the consumer needs to be educated and not purposely kept in the dark about the housing market by the seller……as is happening!

So understand that there is an organized secret discussion by all the very large groups of individuals and companies that benefit greatly by consumers being in the dark about housing matters….new and old.

If you believe that Loblaws engaged in price fixing the cost of bread…then believe also that over inflating the cost of housing also benefits those that sell…..especially when developers who build thousands of units every day have been thrilled to see their profit margins increase like never before.

Look back only five years and ask why prices have skyrocketed….look at low interest tricking people…and so much more.

Yes buy real estate…that is the ultimate gratification in a consumer driven society.

We should all be grateful as the top law court has nixed the Toronto real estate cartel’s fight with the Competition Bureau .

The Federal Competition Bureau is on your side…believe it and write them, as I have, thanking them to allow ordinary people in on the secret life of selling real estate….and removing some of the tricks the housing industry used to keep us ignorant.

Otherwise ignorant consumers just become more ignorant…most of us are smarter than the housing industry think we are…but they also know people can be tricked because of ignorance.

There is a great deal of sales psychology that goes into the largest purchase we make…that for more than ever before in the history of this world has tied people to owing others paying back a mortgage for almost life!

Have you made any other life time commitments?

#33 Penny Henny on 08.26.18 at 5:43 pm

Worry about what you can control. The yield curve isn’t one of them. – Garth
///////////////////

Worry about what you can control, hmmmm.
So if I’m in Florida when a Cat4 hurricane is about to hit land I shouldn’t worry.
Or if Smoking Man buys the house across the street from me I shouldn’t worry that property values will soon be dropping.
Shouldn’t I worry for those that take ‘The Real Mark’s advice?
Or what if Stan Brooks one day decides to work the phones at a suicide hotline, should I not worry then?
You’re right Garth I’ll just worry about my golf game.

#34 AJ on 08.26.18 at 5:45 pm

#9 Mike on 08.26.18 at 2:29 pm

I emailed viewpoint and asked when they might show up in SK and AB. They said government registeries are not as open as in NS, so they can’t replicate NS.

==========

Just because ViewPoint doesn’t want to expand, doesn’t mean nobody else will. All the data (provincial and MLS alike) will be provided by somebody, just not them. Guaranteed, in 4-5 years time there will be one or maybe two national real estate portals (other than realtor.ca) that will contain provincial (e.g. tax assessments, private sales) and MLS history

#35 Relationships101 on 08.26.18 at 5:52 pm

Enjoying time is the key,

But the problem is women don’t see the money and often don’t work as much as man (or not at all), expecting the man to provide. Most of the time they want the man to worry about finances.

Therefore for them only what they see matters, like a house.

They don’t care if you slave or work in a mine to make a living as long as she has something.

The reality is different from the theory.

We all wish to be men, that don’t let our wives dominate us. But you have to be a damn good/desirable man to have it your way. Not all of us are as great as you Mr. Turner.

#36 Yuus bin Haad on 08.26.18 at 5:53 pm

Finally! A REAL Letter! No suck-up; no “I earn 600 large and use payday loans.”; no “Did someone hit me on the head?” This is the first time I’ve been able to read a “Dear Garth” article to the end. Thank you Alyssa!

#37 Jungle on 08.26.18 at 6:00 pm

Rent has skyrocketed in Toronto, to the point where cash flow is negative for investment, tenants get big increases. Good luck with your balanced portfolio overcoming that. And worse, vacancy rate is still under 1%

Figure this out:
TREB reports average 100k sales year.
GTA is 6 million
Population is increasing, GTA cities have shown increase in population. (they’re growing)
Immigration is not stopping. (300K+ year)

How many wealthy people, or high income, or equity rich homeowners in the GTA of 6m, does it take to keep 100k sales/ year going?

This is why the housing market is not doomed and renting is no good anymore.

#38 Canada Rules on 08.26.18 at 6:15 pm

So can anyone tell me how to find the history of a property with respect to:

Any Grow-ops
Fires
Insurance claims on the property!

Thanks,

#39 SoggyShorts on 08.26.18 at 6:15 pm

#29 saskatoon on 08.26.18 at 4:28 pm
There was a reality part?

–Doug

this is the most disturbing comment i have ever read on garth’s blog.

yes, there was a reality doug: 2977 humans lost their lives.
***********************
Don’t be silly. Do you actually want you financial advisor to talk to you about how they feel about lives lost in a tragedy?
Or maybe it makes more sense for someone in the financial advice industry to talk about how it effects the market?

Go back and read the article again, or here, I’ll sum it up

Perception: “terrorist attacks crash the market”
Reality: “no, they don’t”

number of lives lost is not part of the discussion.

#40 KLNR on 08.26.18 at 6:17 pm

@#22 DM in C on 08.26.18 at 4:08 pm
#15 – “Do you have to be over 60 to appreciate the genius in this? Everybody should print this and tape it on their bathroom mirror and read it every morning.”

No, you don’t. We’re 47. We divested ourselves of the big McMans in Calgary in March. Currently renting a smaller place from a serious landlord. Putting 50% of our salary into registered and non-registered investments monthly.

Writing this from a patio near Munich, and we have two more weeks here touring Europe.

Life is about experiences, not finishing the basement.
_________________________________

So true.
spending the majority your $$s on a house OR ‘investments’ is ridiculous.
Live while you’re alive folks, you only get one shot at it.
Time is the real currency.

#41 ImGonnaBeSick on 08.26.18 at 6:20 pm

#29 Saskatoon – relax, it’s a blog comment.. go pretend to be offended somewhere else.

#42 SmarterSquirrel on 08.26.18 at 6:31 pm

Garth,

I’ve been using the HouseSigma app to get info on houses in the Toronto area. It’s been illuminating to see homes get pulled and relisted and to see the fluctuating prices that are being asked for. Hopefully these services now become ubiquitous and people become much more informed, resulting in them making much better decisions regarding how much a house is worth.

#43 Xpat on 08.26.18 at 6:32 pm

#29 saskatoon on 08.26.18 at 4:28 pm
There was a reality part?

–Doug

this is the most disturbing comment i have ever read on garth’s blog.

yes, there was a reality doug: 2977 humans lost their lives.

What a cheapshot saskatoon. Classic

#44 Triplenet on 08.26.18 at 6:40 pm

Re TREB
I highly doubt the forced release of this secreted information will be free of charge.
Every Board may elect to monetize this data (they used to do that). Perhaps $25 per property record retrieval?
However, this means for less than $500 we can analyse our local real estate market and make truly informed purchases.
We’re all smart and the real estate board is rich.
Hmmmmm

#45 crowdedelevatorfartz on 08.26.18 at 6:54 pm

@#29 saskatoon

You must have to stay indoors all summer with that easily offended thin skin and all those blackflies………

#46 Shortymac on 08.26.18 at 6:56 pm

Excellent, I hope we can see one soon!

I was up in Alliston and Barrie for family stuff this weekend and I saw tons of homes for sale, just sitting. Hell, my BIL gave up on moving and selling his current place in Barrie because of this. Happy crash everyone.

#47 Price Drops All Around on 08.26.18 at 7:02 pm

When the house is fully paid for it is yours. Until then the bank or lender have the hammer and expect their mortgage payments to be received on time, every time, or watch out.

#48 Fish on 08.26.18 at 7:07 pm

I guess we won’t be needing the advisor or adviser or
Doctor do little or whatever they call themselves
Very shortly, which would be a great RELIEF

#49 Stan Brook's Psychiatrist on 08.26.18 at 7:08 pm

#33 Penny Henny

“….Or what if Stan Brooks one day decides to work the phones at a suicide hotline, should I not worry then?”

Yes Penny you should worry if Stanley ever gets out of his straight jacket and manages to get over to a suicide hotline…. Canada would make world news headlines with a massive jump in our suicide rate….

#50 arfmoocat on 08.26.18 at 7:23 pm

Worry about what you can control. The yield curve isn’t one of them. – Garth

………………………………………………………………………

50 years ago we listened to good music on shitty AM radios. Today we listen to shitty music on fantastic sound systems… rap

https://www.youtube.com/watch?v=qRKNw477onU

#51 Fred on 08.26.18 at 7:24 pm

Garth, I also hate what DEBT has done to some people who put all their eggs into the real estate basket, hoping to hit the jackpot as time goes by. Sure, it went up a little, and Garth was kind of saying it wouldn’t back in 2011, but I hate what that debt did to the people because those people will never get back the health they had, that they threw away paying off the debt. It’s like you can’t win. Maybe the Buddhists are on to something when they say we should quit desiring wealth so much.

#52 Damifino on 08.26.18 at 7:24 pm

#22 DM in C

Writing this from a patio near Munich, and we have two more weeks here touring Europe. Life is about experiences, not finishing the basement.
———————————–

Pure travel chauvinism. For some people, life is about finishing the basement. That’s also an experience and a perfectly valid use of one’s time and money. Fortunately, the citizens of Munich both past and present stuck around to build and maintain a city for you to enjoy.

#53 islander on 08.26.18 at 7:36 pm

https://thetyee.ca/News/2017/06/19/Nine-Real-Estate-Secrets/
Not old news – unfortunately!
We all know that we are ‘tracked’ and that our information is ‘ sold’.
But in case you’re still in zouzouland, check out:
Google Timeline.
You got a Google account?…use Google maps?
Then every single move you’ve made has been tracked by Google since 2015…
every where you’ve been, how long you’ve stayed…every route you’ve taken….everything
and of course Google isn’t just sitting on this info………it’s pure gold…..
Nod to D. McTiernan

#54 Ace Goodheart on 08.26.18 at 7:38 pm

It’s a start.

Really the real estate market, which recently turned into an unregulated commodities market where goods were being sold in blind auctions on the “buyer beware” principle, needs the same kind of regulation that (mostly) keeps the stock market honest.

Just this past weekend there was an “open house” in a prestigious part of the smokey six. The prize, a 1930’s Tudor masterpiece complete with wood trim that would make a monarch blush and charm to knock the stockings off a flapper. Backyard like a parkette with a ravine straight out of Hound of the Baskerviles. A doll house basically. It would bring tears to the eyes of those hard working surgeons and lawyers and CEOs who felt their childhood memories reviving as smells and thoughts as they walked through the heavy oak doors. She was dressed to kill. A nightmare clothed like a daydream.

Listed at 1.0 mil, it drew a crowd. I think they needed the police to do traffic control. This was not a 1.0 million dollar house.

So what do the realtors Do? Like a crafty matriarch on coming out night, trott out the hopefuls and dance the night away.

Come in, take your time. Look around. Doesn’t this wood trim smell like grandma’s fireplace? This stained glass, right out of something your uncle had in his smoking room? Sit down, get comfortable. Could you see yourself living here?

It was like a nostalgia orgy. The dreams of green fields and oh so younger days were making the wainscotting buckle from the heat.

Then It’s Cinderella time.

Sorry, the owner has decided that based on the offers received, the price is too low.

Everyone f#ck off. Yeah a day dream is a day dream. Out!

Re lists at a million five and will try again.

No doubt it’ll now go for over two mil. A broken heart is hard to mend…..

#55 IHCTD9 on 08.26.18 at 7:50 pm

#35 Relationships101 on 08.26.18 at 5:52 pm
Enjoying time is the key,

But the problem is women don’t see the money and often don’t work as much as man (or not at all), expecting the man to provide. Most of the time they want the man to worry about finances.

Therefore for them only what they see matters, like a house.

They don’t care if you slave or work in a mine to make a living as long as she has something.

The reality is different from the theory.

We all wish to be men, that don’t let our wives dominate us. But you have to be a damn good/desirable man to have it your way. Not all of us are as great as you Mr. Turner.

——-

The old stay at home Mom deal is dead, by necessity. Single income households are doomed to financial struggle these days unless we’re talking about 1 – 1%’er income. Men should be outright pushing Women into the workforce if they’re not already there.

I don’t care to even consider how different the IHCTD9 household would look if Ms. lH did not work. She is also GREAT with money. 20 years ago, I followed her lead with investing and saving, and am I ever glad I did. Her job came with benefits that mine did not, hers also has a modest pension whereas mine has none. Having her at work was and is a game changer. No married Man should need to be a sole provider in this day and age.

I got lucky with her, but if I was single again; there’s no way I’d be involved with a Woman who was not financially independent and smart with money in general.

#56 Ace Goodheart on 08.26.18 at 7:54 pm

RE: #46 Shortymac on 08.26.18 at 6:56 pm

“Excellent, I hope we can see one soon!

I was up in Alliston and Barrie for family stuff this weekend and I saw tons of homes for sale, just sitting. Hell, my BIL gave up on moving and selling his current place in Barrie because of this. Happy crash everyone.”

The Barrie situation is odd, because there is not a lot to do up there. There are some factories, a lot of service jobs (serving staff, cashier, etc) and some city type jobs that pay around 50k or so. There are also the usual lawyer, doctor, nurse jobs that always can be found in any regional centre.

But that is it. If you do not have one of the usual high wage “tickets” (ie, doctor, nurse, lawyer, judge) then you are looking for factory work to get to 50k per year.

I don’t know what justifies the house prices up there.

Just try to drive down the 400 highway to Toronto at 7:00 in the morning, and you will understand.

#57 Ace Goodheart on 08.26.18 at 8:01 pm

Let the Crypto crash begin:

https://www.thestar.com/wsj/business/2018/08/24/it-was-meant-to-be-the-better-bitcoin-its-down-nearly-90.html

Did anyone actually ever think that this stuff was worth anything?

Dots and zeros on a computer screen?

People are really, really, dumb…..

#58 Boomers be doomers on 08.26.18 at 8:05 pm

How far back will data go? Will we have info from the last 10 years or will they start collecting now?

#59 Boomers be doomers on 08.26.18 at 8:08 pm

^^your article says complete sale history. So I can find out what my parents paid for a townhouse in 1987?

#60 Deplorable iota on 08.26.18 at 8:25 pm

#57 Ace Goodheart on 08.26.18 at 8:01 pm
Let the Crypto crash begin:

https://www.thestar.com/wsj/business/2018/08/24/it-was-meant-to-be-the-better-bitcoin-its-down-nearly-90.html

Did anyone actually ever think that this stuff was worth anything?

Dots and zeros on a computer screen?

People are really, really, dumb…..
..

Smoking man…. buys Iota at $4 … worth 40 cents now… he’s a genius…lol

#61 Poor immigrant on 08.26.18 at 8:34 pm

Garth, I just finished reading Ben Graham’s book. Now what you have been writing makes much more sense. I wonder if your investment philosophy inspired by him.

#62 Seriously? on 08.26.18 at 8:36 pm

#1 WillD

He just told you, you nitwit.

#63 IHCTD9 on 08.26.18 at 8:40 pm

#56 Ace Goodheart on 08.26.18 at 7:54 pm

But that is it. If you do not have one of the usual high wage “tickets” (ie, doctor, nurse, lawyer, judge) then you are looking for factory work to get to 50k per year
———

As scary as it may sound, Barrie and area is a bedroom town for the GTA. A few trips up and down the 400 on any given day will make you a believer. Right off of the 401 at 89 there was a subdivision going up a year back asking 900k for nothing special.

They do have a Honda plant there employing several thousand, and the “old deal” (prior to 2008) employees can easily do 80K with typical OT.

Not saying they’re buying 900K homes though…

#64 maka on 08.26.18 at 8:42 pm

Want to see listing history? Check out this site…

https://housesigma.com/web/

I couldn’t believe that some sellers have made an insane amount of money by keeping buyers in dark. May be tax free profit.

#65 JohnAB on 08.26.18 at 8:43 pm

I bet the picture was made somewhere in Russia. Look at the guy’s clothes, “fufayka” and “ushanka”. Pure Russian.

#66 maka on 08.26.18 at 8:56 pm

check this listing history for fun.
https://housesigma.com/web/house/MB5bO3xRxolykWVP/877-Spinning-Wheel-Cres-Mississauga-L5W1W4-W4210692

2014-05-12 sold- 680K
2018 listed for 1.25 million (terminated twice)
2018-08-04 re-listed for 1.16 million

If the seller finds a greater fool, the net profit is over 300K in 4 years.

#67 Reality is stark on 08.26.18 at 8:59 pm

This is a joke right?
You folks can’t see through this?
If they have financial assets the split is 50/50.
With a house and kids the ultimate split will end up 80/20 in her favour (or better) with our family court system. She will always push for the house.
This is a no brainer.
With a 55% divorce rate where 80% of the time females initiate the process why would you buy a house after a 21 year run in real estate with higher interest rates around the corner?
Wouldn’t it make more sense to just shoot yourself than die a slow painful death?

#68 Bugsy Segal on 08.26.18 at 9:01 pm

About time.

The re-listing in BC right now is unreal. Some properties 5-8 times since the start of the year with “new” prices, that are lower.

My high rolling real estate buddy told me Vancouver is on the brink and seeing price drops on everything and not sure if the price drop is going to go full blown crash mode where everyone craps their pants.

Let’s see what another few interest rate hikes do.

#69 will on 08.26.18 at 9:07 pm

this is gonna be great. now there will actually be some numbers to analyze.

#70 40, Living at Home on 08.26.18 at 9:10 pm

4,500 cash on average into investments every month for the past 15 years.

I have no interest in ever moving out. Don’t pay rent. I mow the lawn for my stay.

Sports car, paid cash. Boat, paid for.

Correction, used credit card that I pay off in full every month to collect the cash rewards.

Most people go house hunting on weekends. I take the boat out, do a little fishing, go for a cruise in the car and drop 100 dollar bills on good food. I like fine dining.

This isn’t the wealthy renter.

This is the wealthy living at home growing the family pot fat.

I am retired for good in 5 more years and will be running my own business out of my house doing whatever I feel like.

#71 Jungle on 08.26.18 at 9:19 pm

Housing bears greatly underestimated the strength of the housing market in the GTA due to their own internal biases, wishes, envy, wants and needs.

The fundamentals to support the market at current levels are strong because of the following reasons:

1. Since 2008, the gap between the rich and poor has gotten bigger. MUCH bigger.

2. Those not in RE, stocks, or rapid career growth may have missed chance to buy at affordable prices.

3. The rich and wealthy homeowners now control more wealth.

4. IN my hypothetical scenario above, only 1.6% of the GTA population of 6M need to make the TREB average of 100K sales happen to support the market. They rest can stay out, and market will be OK.

5. Toronto has become a world class city now – well respected, safe and desired. It’s not going back.

6. Immigrants are expected to keep coming. 300-500K per year as per eventual target. This is not going to stop.

7. Renting is horrible. It used to be argued you could rent, save and invest the rest. Not anymore with absurd 20-30% rent increases, low vacancy and lack of purpose built supply. You get what you pay for, usually less with renting and high cost vs long term ownership.

There are a lot of millionaires in Toronto. The average detach is 1.2M (ZOLO) . What did the renters get, other than squeezed and pressed out?

#72 stage1dave on 08.26.18 at 9:22 pm

#55 IHCTD9;

Good comments;

In our circles, the only couples I know without a “working wife” are the ones’ retired with pension or SAH mums with kids; the cost of daycare is ridiculous and practically no job income will replace that expenditure!

I’ve also noticed over the years that it’s in a couples’ best interests that they both pay attention to the money, both how to save it and spend it…despite who’s making “more”. IMO, seems to prolong relationships…go figure.

Like in everything else, communication solves a lot of problems…and sometimes can avert them entirely.

The only beings in this house who don’t voice any opinions about cash flow are the cats…

#73 The Real Mark on 08.26.18 at 9:28 pm

Alyssa, forget the house. Get a basement

Basements are great as inflation ramps up

#74 Re: #35 on 08.26.18 at 9:30 pm

Hey #35 Relationships101,

The kind of women you speak about are picked up by idiot men who don’t see the value in doubling down on their investments. Who you marry is one of the biggest financial decisions of your life, so why would any financially literate man attempt to bear the burden of carrying another? That was rule #1 that my father taught me. Never, ever rely on a man (or anyone else, for that matter). Be self sufficient. I am a woman.

“We all wish to be men, that don’t let our wives dominate us”…

Oh, ok. I make more than double my husband does. Do I dominate him? Financially, sure. If you’re insecure enough to worry about being dominated by your wife, then yeah, sure grab one of those trophy wives, but risk doing so at your own peril.

#35 it’s the 21st century, if you haven’t checked lately. Women like myself are in boardrooms all across this country, and they still cook pretty nice meals, and look sexy while doing it, too.

My favourite saying? D.I.N.K.s to you stiff ole #35.
Double. Income. No. Kids (or have kids, once you’re already financially stable).

Peace.

#75 Fish on 08.26.18 at 9:32 pm

If you think that the stress test is here for good.
Perhaps you might want to rethink,

Correction in housing is coming, lots of debt people have,

#76 akashic record on 08.26.18 at 9:37 pm

#39 SoggyShorts
Go back and read the article again, or here, I’ll sum it up
Perception: “terrorist attacks crash the market”
Reality: “no, they don’t”
number of lives lost is not part of the discussion.

Except on Doug’s chart, where death toll was somehow supposed to tell the financial impact.

#43 Xpat on 08.26.18 at 6:32 pm
What a cheapshot saskatoon. Classic

Actually, the saskatoon’s original comment was about the fact that Doug, for some reason, that was never explained, left out 9/11, the historically most relevant sample of contemporary “terrible terrorist attack in a major city”.

Then saskatoon provided a detailed list of financial losses of 9/11, that arguably should have been part of Daug’s illustration of the “reality” when analyzing the financial impact of “terrible terrorist attack in a major city”.

The real cheapshot was Daug’s reply.

#77 45north on 08.26.18 at 9:39 pm

ShortyMac: I was up in Alliston and Barrie for family stuff this weekend and I saw tons of homes for sale, just sitting. Hell, my BIL gave up on moving and selling his current place in Barrie because of this. Happy crash everyone.

I was on Mortimer Avenue for family stuff this weekend. My brother in law knows the hood. He says there’s no sign of a housing crash. Basically he was saying, as soon as you list it, it’s sold.

I see vast swaths of Alliston and Barrie becoming illiquid – you have to reduce prices and wait a long time to sell. Only the best houses sell. At the same time houses on Mortimer are sold as soon as they are put on the market. A seller on Mortimer is not going to accept conditions on financing or house inspection – he’s going to say “do you want the house or not!” Which is to say people in the suburbs are about to experience a yuge loss of wealth.

#78 NoName on 08.26.18 at 9:46 pm

#74 Re: #35 on 08.26.18 at 9:30 pm

#35 it’s the 21st century, if you haven’t checked lately. Women like myself are in boardrooms all across this country, and they still cook pretty nice meals, and look sexy while doing it, too.

—-

yah OK, thet is a bit stretch there with that cook pretty nice meals, what kind of an oven you are talking about, gas or electric???

#79 crowdedelevatorfartz on 08.26.18 at 9:47 pm

@#68 Bugsy

Well, hopefully the Realtors will be treated like you treated this guy…….

https://www.youtube.com/watch?v=Hkx_puJMF3c

#80 crowdedelevatorfartz on 08.26.18 at 9:51 pm

@#71 Jungle
“There are a lot of millionaires in Toronto. The average detach is 1.2M (ZOLO) . What did the renters get, other than squeezed and pressed out?”

+++++
Apparently a Realtors reading and comprehension skills are about as advanced as his ethics.

We renters will watch you “millionaires” keep making mortgage/HELOC payments as the interest rates rise our rents keep chugging along …..

Millionaires……..
ahahahahahahahahahahahahahahahahahahahahahahahahahaaa

#81 PastThePeak on 08.26.18 at 9:53 pm

Love it when Garth roasts the pathetic losers that write in with their ridiculous situations, that, in most cases, anyone with a brain could figure out without having to bother the great Garth. How you do it day in and day out, I don’t know. But we appreciate the entertainment provided.

#82 dr talc on 08.26.18 at 10:16 pm

#1 WillD on 08.26.18 at 1:43 pm
Will this info have a discernable effect on prices?

no. serious buyers work with agents, all that info is available already, if an agent lies, omits or misrepresents, there is recourse, where i live, through reco, agents do get fined and disciplined

Irrelevant, as the democratization of data means buyers become just as informed as agents. Besides, no agent is going to pull the dozens or hundreds of comparables that many purchasers will access themselves online. – Garth

#83 renter in Surrey on 08.26.18 at 10:22 pm

RE #77 crowdedelevatorfartz

We renters will watch you “millionaires” keep making mortgage/HELOC payments as the interest rates rise our rents keep chugging along

———————————————————————————

We renters will watch it for very very long time.
While interest rates are still near zero and rents keep going up and up.

Expect Bank of Canada to maintain interest rates in September

https://business.financialpost.com/news/economy/expect-bank-of-canada-to-maintain-rates-in-september-unless-gdp-is-off-the-charts

#84 akashic record on 08.26.18 at 10:47 pm

#82 dr talc

Making all relevant data available is a basic expectation.

How exactly this new access transforms customer behaviour in real estate is everybody’s guess.

All pricing, etc. data have been available on all the financial investment instruments, yet even professionals, making their living in this field, interpret that same data differently.

We have to wait and see.

#85 B Wilds on 08.26.18 at 10:59 pm

Home prices soared on low interest rates and easy money but periods of rapid credit expansion always end the same way and that is in default. Global debt has surged since 2008, to levels that should frighten any sane investor because debt has always had consequences. Much of the massive debt load hanging above our heads in 2008 has not receded or gone away it has merely been transferred to the public sector where those in charge of such things feel it is more benign.

A series of off-book and backdoor transactions by those in charge has transferred the burden of loss from the banks onto the shoulders of the people, however, shifting the liability from one sector to another does not alleviate the problem.

#86 Evangeline on 08.26.18 at 11:23 pm

Is this what Professor Smoking Man means by “herdonomics”?

https://www.youtube.com/watch?v=-0iengeKbOw

#87 Ben Dover on 08.26.18 at 11:38 pm

classic shyster line..

Dont wait too long, there’s another buyer interested in this property.

#88 Alberta Ed on 08.26.18 at 11:39 pm

One weeps for all the Audi dealers.

#89 Smoking Man on 08.26.18 at 11:53 pm

Happy belated international dog day dogs.

Looks like Mexico has a nafta deal…

Next up to bat.. T2..

Dear god. Lord help us all.

#90 Kootenay Hippie on 08.27.18 at 12:11 am

No real estate hate. Only balance. And dogs.

#91 Spectacle on 08.27.18 at 12:20 am

#65 JohnAB on 08.26.18 at 8:43 pm
I bet the picture was made somewhere in Russia. Look at the guy’s clothes, “fufayka” and “ushanka”. Pure Russian.

——————– regarding the Photo ——–

It is training clothing, for bite work and attack comand.

Have seen some Shephards go to great lengths for a Hit, as this one is. Padding or not, it does hurt , as Alysas husband is finding out.

Once saw a Rottweiller do a 600 plus pound strike! Now that will take out a person for good….like Alysa buying a house at this market timing.

Woof Alysa, woof! That person you hate was the Finance Minister Of Canada, a highly respected financial professional ( some say The One, or The Oracle, and then there are his abs…) . We really need you to write back one day with a Holy Shit letter, apologizing to Mr Turner, and thanking him for eternally saving your future and perhaps your marriage. Please do that .

#92 Dolce Vita on 08.27.18 at 12:53 am

There may well be no place for the state in the bedrooms of the nation but there seems to be a place for The Greater Fool.

Poor Alyssa.

In bed with a husband that reads to her The Greater Fool, out loud.

Nothing compares to the sweet whispers about TREB’s Supreme Court defeat and outfall. The gentle caress of list price vs. sold history. The warm and loving embrace of actual DOM and comparative neighborhood values.

Now there’s a new kind of foreplay. And I here I thought nothing could be more depressing than Kierkegaard.

Probably why Alyssa hates you.

Et tu, Brute Garth?

#93 crowdedelevatorfartz on 08.27.18 at 12:56 am

@#83 renter in Surrey

Not to worry Surrey.
Rates will be rising….this year.
Its inevitable with the US economy on fire and our dollar languishing.

And with all those fat mortgages, HELOC’s , B20 rules that add “extra” interest, falling sales, inevitable falling prices to follow…..
Mooo Hoo Haa Haa haaaaaaaa.

A good time NOT to buy.

#94 SoggyShorts on 08.27.18 at 2:15 am

#66 maka on 08.26.18 at 8:56 pm

check this listing history for fun.
https://housesigma.com/web/house/MB5bO3xRxolykWVP/877-Spinning-Wheel-Cres-Mississauga-L5W1W4-W4210692

2014-05-12 sold- 680K
2018 listed for 1.25 million (terminated twice)
2018-08-04 re-listed for 1.16 million

If the seller finds a greater fool, the net profit is over 300K in 4 years.
*************************
680K invested into the S&P 500 would have made
$426,033
So there’s that….
https://dqydj.com/sp-500-return-calculator/

#95 MF on 08.27.18 at 7:10 am

#52 Damifino on 08.26.18 at 7:24 pm

Gonna have to agree with this post.

Travelling is over rated. For some finishing the basement is more enjoyable.

My parents are a good example. No debt, house paid off, money in the bank invested, a pension…yet they have no desire to travel and enjoy themselves immensely right at home.

For us younger people, it’s clear those who like to travel do it for Facebook and Instagram photos and like to believe it makes them into something special…when in fact no one cares.

MF

#96 Oft deleted much maligned stock.picker on 08.27.18 at 7:10 am

US and Mexico news are hyping a NAFTA deal…

“Hours away” days Mexican spokesman. Peso jumps. Meanwhile , Canada has gone to ground, throwing up division politics as misdirection. US and Mexico don’t need Canada….niether country is obligated to include Canada. Looks like Trudeau and his Democratic Party advisors ( chief advisor David Axelrod and Obama) have screwed Canada.

Meanwhile US regulators predict a ‘Reagan Moment’ in trade. Game theory supports Trump…..whoops….we lose.

#97 akashic record on 08.27.18 at 7:38 am

#91 Spectacle on 08.27.18 at 12:20 am

#65 JohnAB on 08.26.18 at 8:43 pm
I bet the picture was made somewhere in Russia. Look at the guy’s clothes, “fufayka” and “ushanka”. Pure Russian.

——————– regarding the Photo ——–

It is training clothing, for bite work and attack comand.

Right on the money. It takes some guts to do it.

It also makes you wonder about the cats ability to refuse to obey all commands from humans.

Depends on which side of the fence history places you.

#98 Headhunter on 08.27.18 at 7:49 am

Barrie and Alliston? What about 900k homes in Angus?
Orillia, Midland, Penetang, Staynor I could go on all day. Price of a home in Parry Sound is off the charts!

Its going to be real bad, because the local wages dont reflect the house price. Peeps move up and then find that out. Commute? well costs you 15K gross yearly to drive from Barrie to T.O. everyday. Plus your time.

I see Innisfil as “ground zero” lots of nice shacks now but no work. Better be on the road by 6am if you want to make it to the GTA in under 90 mins.

I just placed a gal from Innisfil with a client in barrie. She took a pay cut as the drive is not near as bad as going to Concord. She said (like they all do) when they moved up she thought it would be easy getting a local job. Yes its easy to get a local job at minimum wage.

I see a 50% haircut

#99 Gravy Train on 08.27.18 at 8:22 am

#96 Oft deleted much maligned stock.picker on 08.27.18 at 7:10 am
“Game theory supports Trump…..whoops….we lose.”

Care to elaborate on how game theory supports Trumpty Dumpty? I see him sitting on a wall—about to have a big fall! Have you not been following the news lately? :)

Oh—and what a nice tribute he paid to John McCain! :(

#100 crowdedelevatorfartz on 08.27.18 at 8:26 am

@#95 MF
” it’s clear those who like to travel do it for Facebook and Instagram photos and like to believe it makes them into something special…when in fact no one cares….”
++++
Yep.
I remember years ago a friend who got the travel bug.
Spent years (decades actually) travelling.
The result.
Amazing stories (when they return to renew passports/ get shots/ see dentist/ bum money).
However.
Zero work history, minimal work skills ( “you were a bartender in Bali for 18 months?”), no CPP ( they spent almost 25 years working outside of Canada contributing NOTHING).
The person is a prisoner of travel.
They cant return to a job or a career.
” Live in Canada? In Winter?”
All their friends and family have moved on…..
They are screwed.

If yer gonna travel.
Do it young, for a few years….
Then get your ass back to the cold cruel real world.
Or after your retire …… and the basement is finished.

Ants vs grasshoppers.

#101 Bytor the Snow Dog on 08.27.18 at 8:35 am

Hi Garth-

I knew that one was pretty close to the line, but at least you could do me the courtesy of a DELETED.

You have to work hard around here to earn a DELETED. – Garth

#102 Mike on 08.27.18 at 8:39 am

More transparency won’t do anything to make real estate cheaper. If anything, it gives all the tools for manias to continue. People now can speak over dinner parties about the house that just sold for 300k… all this information will be at your finger tips. All that this will do is make parties and events unbearable real estate conversations for years to come.

The reality is that there is massive wage inflation accruing to highly skilled people. Those people are choosing to live in Toronto and marry one another. It is not uncommon to see Toronto couples with 500-800k combined incomes. You can see these in the leaside, Kingsway, rosedale, Lawrence park neighborhoods. On a house price / income basis these areas are not expensive and are low by international standards.

The same cannot be said of people with moderate incomes buying expensive homes in exurbs.

This is a classic setup for the more expensive things becoming even more expensive, perpetuating even more social inequality.

#103 Penny Henny on 08.27.18 at 8:41 am

#54 Ace Goodheart on 08.26.18 at 7:38 pm
It’s a start.

Really the real estate market, which recently turned into an unregulated commodities market where goods were being sold in blind auctions on the “buyer beware” principle, needs the same kind of regulation that (mostly) keeps the stock market honest.

Just this past weekend there was an “open house” in a prestigious part of the smokey six. The prize, a 1930’s Tudor masterpiece complete with wood trim that would make a monarch blush and charm to knock the stockings off a flapper. Backyard like a parkette with a ravine straight out of Hound of the Baskerviles. A doll house basically. It would bring tears to the eyes of those hard working surgeons and lawyers and CEOs who felt their childhood memories reviving as smells and thoughts as they walked through the heavy oak doors. She was dressed to kill. A nightmare clothed like a daydream.
xxxxxxxxxxxxxxxxxxxxxxx

Hey Ace, the creative writing class is down the hall to your left.

#104 dharma bum on 08.27.18 at 8:42 am

#19 Sam P.

I have a property in Moncton, NB which I am not getting offers.
——————————————————————–

Redundant statement.

Ya think?

#105 unless on 08.27.18 at 8:55 am

Life is about experiences, not finishing the basement.
………….

unless you take JOY in the ”experience’ of finishing the basement

get it?

not everyone cares to spend two weeks in Europe. HUGE pass for me, good grief

#106 BlorgDorg on 08.27.18 at 8:56 am

#95 MF on 08.27.18 at 7:10 am

> For us younger people, it’s clear those who like to
> travel do it for Facebook and Instagram photos and
> like to believe it makes them into something special…
> when in fact no one cares.

*********

No that’s just you younger people. The rest of us travel to experience the world and live a full life. But well-spoken as someone who’s never travelled. At least you got the last part right — nobody cares.

#107 dharma bum on 08.27.18 at 9:00 am

#51 Fred

Maybe the Buddhists are on to something when they say we should quit desiring wealth so much.
——————————————————————–

Now you’re starting to wake up!

Real happiness doesn’t come from satisfying our desires. Real happiness is to be found in dissatisfaction itself.

Sit quietly and contemplate for a while, and it all becomes crystal clear.

#108 Millenial Mess Ups on 08.27.18 at 9:00 am

Ya’ gotta love idiots.

No job security, Not much if any equity left, piles of unpaid credit card bills every where, unpaid loans and unpaid lines of credit getting called by the banks and finance companies while there is still a pound of flesh or two left on the bones to grab .

No prospects of self reliance for them to look after their own lifestyle choices and excessive spending and fool hardy expenses. Always expecting to be looked after even turning to their parents, relatives and friends to get them out of their binds and over spending problems.

Just wait until the lay offs and down sizing in both the private and public sectors across Canada starts to pick up steam in the fall and after Christmas for workers in every age group, industry and sector in the country.

No Province or Generation Will be Spared. REALITY BITES

#109 232 on 08.27.18 at 9:16 am

#38 Canada Rules on 08.26.18 at 6:15 pm
So can anyone tell me how to find the history of a property with respect to:

Any Grow-ops
Fires
Insurance claims on the property!

—————————————————————-

Ahhhh, a realtor. Hahaha. Feel free to use Google to find out what these words mean:
– lawyer
– title insurance
– contract
– clause / provision / stipulation

There, that should get you started.
I bet it will be difficult finding a real job with so much arrogance?

#110 EZBake on 08.27.18 at 9:24 am

@#78,

Microwave. Come on now, I said it was pretty darn good, but I don’t have time to waste my life in a kitchen ;)

#111 Andrewt on 08.27.18 at 9:30 am

Telegraphing more rate hikes…

—-

Stephen Poloz said the central bank must play it safe in a fast-changing world.

“Importantly, this approach does not mean keeping interest rates unchanged until inflation pressures emerge,” he said in his weekend presentation at the Kansas City Economic Policy Symposium.

“That would virtually guarantee falling behind the inflation curve.”

http://www.cbc.ca/news/business/interest-mortgage-poloz-1.4799079

#112 Remembrancer on 08.27.18 at 9:52 am

#84 akashic record on 08.26.18 at 10:47 pm

All pricing, etc. data have been available on all the financial investment instruments, yet even professionals, making their living in this field, interpret that same data differently.
—————————————————————–

Exactly, hate to be the contrarian here, but why anyone thinks there’s any obscured truthiness hidden away in TREB data that is:

1) germane and not already available to a buyer now through a realtor ™ who is being properly managed by their client (the buyer) and earning their commission thru providing listing, comp information, sales history etc…

2) not obtained through the buyer’s own expected as an adult due diligence on the purchase including location, history, inspected issues such as age of appliances, mechanicals, builder history, chances of an airport being built across the street etc etc, state of repair of neighbouring properties, location of services etc etc

3) all for an asset class that may be unique to a particular lot, a street, a neighbourhood, a city, a region and a country at a point in time – hell perceived value may even by impacted by the street # or the direction the backyard faces for some potential buyers in said market…

4) finally that is subject to auction and bid on by independent actors each with their own motivations, perceived value, emotional and (what they believe is rational thought), including FOMO etc…

and is going to come out b/c of this ruling and magically correct / reduce housing prices is beyond me.

The short-medium winners IMHO are the would-be competitors to realtor.ca for compilation and resale to the “experts” who think they can time markets and quant the asking price down or act as independent agents / negotiators – thinking fine art dealer / auction house vs. no-dicker sticker auto retailer.

Otherwise its supply and demand meeting whatever the traffic will bear at any given time like any other market place with reputable and maybe not so reputable buyers and sellers.

Anyone who refers to “a realtor ™” probably is one. – Garth

#113 LP on 08.27.18 at 9:53 am

#103 Penny Henny on 08.27.18 at 8:41 am
**********************************

Hey, give Ace a beak for:
– good grammatical
– punctuation correct
– it was interesting to some of us
– it didn’t attack another blog dog
– lacked sarcasm
– didn’t inflate credentials, had no quasi expertise in any of (a) finance (b) economics (c) politics

On the whole, if I were a teacher I’d give him an A.

#114 Oft deleted much maligned stock picker on 08.27.18 at 9:56 am

A month ago I warned a bout recession in Canada by Christmas. The media is finannly catching up with analytic chatter. Position yourself accordingly. Btw…. the S&P was trading at 30 at the last drop we’re barely 18 now. Talk about a crash is all anti Trump propaganda. America is breaking out into a sprint.

https://www.bnnbloomberg.ca/canada-should-fear-this-economic-indicator-flashing-red-goldman-sachs-says-1.1128881

Trump will slay the mid terms by all polls current….Trudeau has sided with the Democrats…Mexico threw Trudeau-Butts under the bus because of all the regurgitated Marxist nonsense. Trump has no reason to talk to Canada, Trudeau has made us irrelevant to the concerns of the empire. Trump will likely sit on his hands…and why not, he’s got bigger fish to fr. Liberals either crucify Canada and send Freeland to Rome on her hands and knees…..with Trudeaus head on a platter or Trump might not lol north for the rest of his eight year term.

#115 Southburnabygardener on 08.27.18 at 10:00 am

Blorgdorg #106
Thank you for your response. Many of us travel as you said for the life experiences with no interest in posting on FB. As ‘grasshoppers’ we are spending a lot on travel at this point in our lives while we have the health to do the kind of active travel that interests us. When health issues or the cost of insurance make that no longer possible, then we will stay home. Not everyone finds fishing/hunting/home repairs interesting.

#116 Jungle on 08.27.18 at 10:00 am

@102 mike

This is exactly true. The market ( money) does not care about affordability crises and equality, because there is enough money to support the market.

I know couples with 300k + household income and can easily afford average prices, possibly some persteige areas due to already having million + equity from starter home, even after subtracting debt.

#117 re., dhrama on 08.27.18 at 10:03 am

Sit quietly and contemplate for a while, and it all becomes crystal clear.

………..

then get on message boards and spread the word

LOL

#118 Remembrancer on 08.27.18 at 10:04 am

#103 Penny Henny on 08.27.18 at 8:41 am
#54 Ace Goodheart on 08.26.18 at 7:38 pm

Really the real estate market, which recently turned into an unregulated commodities market where goods were being sold in blind auctions on the “buyer beware” principle, needs the same kind of regulation that (mostly) keeps the stock market honest.
————————————————————–

I’d change “recently turned” to “has been and is”.

Though maybe disclosure rules and penalties a la a an offering prospectus need to beefed up I’d be intrigued by what regulation you see as necessary or useful?

#119 Oft deleted much maligned stock.picker on 08.27.18 at 10:33 am

NAFTA deal done…..without Canada

https://www.cnbc.com/2018/08/24/budget-of-a-32-year-old-freelancer-earning-50000-dollars-in-nyc.html

Trump has no reason to talk to Trudeau-Butts

#120 Islandgirl on 08.27.18 at 10:33 am

I still enjoy trolling through the mls listings, mostly just to see inside my neighbours homes but one thing I did notice (that changed after we bought our house) is that the listing date is no longer accurate. I used to be able to limit the houses appearing in my search by when they were listed, but now it seems that they almost all show up far longer than they were ever listed. I look forward to seeing the actual dates and prices (so glad we scooped from desperate sellers).

#121 Oft deleted much maligned stock.picker on 08.27.18 at 10:35 am

Whoops….right link

http://www.foxnews.com/politics/2018/08/27/us-mexico-reach-tentative-new-nafta-deal-sources-say.amp.html

#122 Reality! on 08.27.18 at 10:41 am

@#35 “…We all wish to be men, that don’t let our wives dominate us. But you have to be a damn good/desirable man to have it your way…”
————
If you act like a door mat people will treat you like one, including your wife.

#123 232 on 08.27.18 at 10:43 am

#95 MF on 08.27.18 at 7:10 am

For us younger people, it’s clear those who like to travel do it for Facebook and Instagram photos and like to believe it makes them into something special…when in fact no one cares.

MF

—————————————————————————————

Not always true MF.
My wife and I have been spending around 10K per year for travelling ever since we got married. I agree that we could have invested that money rather than “throwing it away” on trips.
But the truth is that we both love travelling: new cultures, experiences, meeting new people,etc.
And we don’t post anything online. We have 4 pictures online from 4 trips (out of dozens) that we took. We like to keep our lives private. Only our families and closest friends (best friends basically) know of our trips, and they haven’t seen more than about 1% of our pictures.
Travelling keeps the wife happy, and helps her relax from the stress accumulated by being an emergency RN

#124 millmech on 08.27.18 at 10:48 am

Anyone else noticing the use of “motivated” to describe the sellers. I looked at a few houses on the weekend and it seemed like every fifth word was “motivated”, seeing it in a lot of listing as well.

#125 INSTAGLAM on 08.27.18 at 10:50 am

crowdedelevatorfartz on 08.27.18 at 8:26 am
@#95 MF
” it’s clear those who like to travel do it for Facebook and Instagram photos and like to believe it makes them into something special…when in fact no one cares….”
++++
Yep.
I remember years ago a friend who got the travel bug.
Spent years (decades actually) travelling.
The result.
Amazing stories (when they return to renew passports/ get shots/ see dentist/ bum money).
However.
Zero work history, minimal work skills ( “you were a bartender in Bali for 18 months?”), no CPP ( they spent almost 25 years working outside of Canada contributing NOTHING).
The person is a prisoner of travel.
They cant return to a job or a career.
” Live in Canada? In Winter?”
All their friends and family have moved on…..
They are screwed.

If yer gonna travel.
Do it young, for a few years….
Then get your ass back to the cold cruel real world.
Or after your retire …… and the basement is finished.

Ants vs grasshoppers.

You two sound like you’ve never traveled and are rationalizing your existence of servicing a particle board box in a frozen land by putting down others. Had kids young did we?

#126 Jungle on 08.27.18 at 10:52 am

#80 Crowdedelevatorfartz
# 83 Renter In Surrey

Homeowners in trouble (a very low amount, according to record low delinquency rates) have more tools to cope: refinance, 2nd mortgage, lower payments, etc. Alternative lender, if they need. They won’t be evicted or lose home, so long as arraignment is made. Meanwhile, home prices that went up over the long term, ease this pain with gain, or even naturalize the cost. Renting doesn’t have that.

The rent increases in Toronto have been brutal 30-40+% over the last 3 years according to urbannomics?

POLOZ increase 1% only and he is a DOVE. Can’t even keep pace with The Fed, and said last week the BOC doesn’t care inflation is at 3%..lol

Pretty sure renters paying more form increase rent crises VS interest rate. But get this, it could get worse:

Rents are struggling to keep up with RE prices that Surged, so investmentstill cash flow negative from an investment point of view.. What’s worse? – 1% vacant rate. This will put pressure on rents to keep going up. Tenents fighting for a place to live- Landlords can choose from a large pool of demand. Some Landlords are even evicting them to sell- to unlock big gains, or reset rent price to market. (legal or not)

A devide has been created and there is no going back. This cycle will not “reset” in favour of tenants.

Toronto is now a world class city. Just like any other world class city, don’t expect the average person to go there and buy any real estate they want.

Unfortunately, roommates, roaming housing/ shared apartment/ accommodation will be the new norm for average or below non RE owner.

The BOC has increase rate 1%

#127 crowdedelevatorfartz on 08.27.18 at 11:27 am

@#125 INSTGLAM
“You two sound like you’ve never traveled and are rationalizing your existence of servicing a particle board box in a frozen land by putting down others. Had kids young did we?”
+++++
Nope no kids.
Yep travelled lots in my 20’s and 30’s hence the advice.
Travel young and get it out of your system cause spending your prime earning years travelling is going to bite you in the ass financially.
Good luck “rock star”!

@ Jumgle.

#1 .
The desperation of underwater mortgage holders that are hanging on by their fingernails with our HISTORICALLY low interest rates will be fun to watch when POLOZ is forced by external pressure to raise rates…..

#2. Legions of desperate underwater mortgage holders refinancing with 2nd mortgages to appease B20 rules will be amusing to watch……

#3. Falling home sales and falling prices ( unlike your fantasy world) are now the norm and its getting worse……

#4. Go back to school Realtor. Focus on reading and comprehension…….

#5. Learn to spell.

#128 TheDood on 08.27.18 at 11:28 am

#9 Mike on 08.26.18 at 2:29 pm

It will take years to get all that info for places like AB BC SK. So, those from above provinces better buy now….

___________________________________

Yup. Rush out and buy ASAP.

Ridiculous advice.

#129 The Real Mark on 08.27.18 at 11:32 am

#73 The Real Mark on 08.26.18 at 9:28 pm
Alyssa, forget the house. Get a basement

Basements are great as inflation ramps up

Please stop with the personation. It’s not right, a sign of mental illness, and takes away from the serious of my points surrounding the very real plateau of real estate values in 2013 and documented deflation in real terms.

Also, I share a bedroom with my four siblings since my parents sold our Brampton house as soon as peak real estate came upon us in 2013. I do not appreciate the misrepresentation.

#130 Stan Brooks on 08.27.18 at 11:33 am

#126 Jungle on 08.27.18 at 10:52 am

Toronto is a sh.t hole with no wages to justify any aspect of housing costs – rent or ownership.

The result of rent increases will be that any qualified specialist will simply leave and you will be left with the mediocre, incompetent who are willing to put up with the GTA ‘lifestyle’.

I can’t imagine a young doctor coming ever to this place, soon even plumbers would be leaving en masse.

GTA being world class city is the worse joke I have ever heard. 3.4 % of house purchases are by foreigners.

Every single young people born here even with parents owning houses wants to leave due to lack of jobs and cost of living.

I have no problem with Toronto being labeled ‘world class city’ or magnet for seekers of some interesting lifestyle provided that:

1. CMHC as morally criminal, soon legally criminal entity is immediately disbanded
2. Poloz is immediately fired for utter incompetence and interest rates freed/set by lenders/savers.
3. All mortgages owned by Canadian sheeple are transferred immediately to the bank’s balance sheets.

And then we will speak about prices, rents and interest rates.

The current giant Ponzi scheme is doomed and will take down whatever joke of economy is left with it once it implodes.

And for you and all proud home owners with giant mortgages I recommend Vaseline as lubricant.

Cheers.

#131 Karl on 08.27.18 at 11:34 am

NAFTA Deal sans Canada, eh?

Trudeau and Co. is up against it now. I’m sure Donald and his friend in Saudi Arabia are going to have fun with this.

Sadly, we will not.

BUT, let’s hope for the best!

#132 Remembrancer on 08.27.18 at 11:42 am

Anyone who refers to “a realtor ™” probably is one. – Garth
————————————————————–
Thanks for noticing sir but sorry, nope, that’s more a (apparently) poor attempt at humour on my part.

#133 Bytor the Snow Dog on 08.27.18 at 11:44 am

#114 Oft deleted much maligned stock picker on 08.27.18 at 9:56 am sez, in part:

“Trump will slay the mid terms by all polls current….Trudeau has sided with the Democrats…Mexico threw Trudeau-Butts under the bus because of all the regurgitated Marxist nonsense. Trump has no reason to talk to Canada, Trudeau has made us irrelevant to the concerns of the empire. Trump will likely sit on his hands…and why not, he’s got bigger fish to fr. Liberals either crucify Canada and send Freeland to Rome on her hands and knees…..with Trudeaus head on a platter or Trump might not lol north for the rest of his eight year term.”
—————————————————–
I don’t know if the Republicans are going to do well or not but it does appear you are correct on Trudeau’s strategy. We will get screwed if he’s incorrect.

What leader of any country of any good standing risks the well being of his country like this?

Trudeau’s got to go. Like it or not, you have to work with the elected leaders of other countries whether you like them and their ideologies or not.

#134 Oft deleted much maligned stock.picker on 08.27.18 at 12:00 pm

DELETED

#135 Heloguy on 08.27.18 at 12:01 pm

“Irrelevant, as the democratization of data means buyers become just as informed as agents. Besides, no agent is going to pull the dozens or hundreds of comparables that many purchasers will access themselves online. – Garth”

So why do we need a full service real estate agent?

Cheers

#136 Adrian on 08.27.18 at 12:03 pm

Can anyone tell me how this TREB court decision will impact the rest of Canada? will this only be Toronto stats that are now public? what about the rest of Ontario? or BC? Alberta?

#137 TheDood on 08.27.18 at 12:07 pm

#52 Damifino on 08.26.18 at 7:24 pm

Pure travel chauvinism. For some people, life is about finishing the basement. That’s also an experience and a perfectly valid use of one’s time and money…..
____________________

#95 MF on 08.27.18 at 7:10 am
#52 Damifino on 08.26.18 at 7:24 pm

Gonna have to agree with this post.

Travelling is over rated. For some finishing the basement is more enjoyable….

MF
_______________________

LOL! Are you for real?? I can’t make out if there is any sarcasm here or not.

#138 Linda on 08.27.18 at 12:18 pm

Was looking at bitcoin prices to see where they were at since they hit their historic highs last year. Search results said bitcoin peaked at $19,783 in December 2017; today the average price is $6,683 (prices in US dollars). So those who purchased ‘at peak’ have lost over 65% of their investment. And that doesn’t even touch on the possibility of the bitcoin being stolen or the difficulties selling it might engender.

As for RE, Garth doesn’t hate it – he just points out that having 100% of your net in one asset is risky. Maybe not bitcoin risky since a house is a solid, to be seen & touched artifact that can’t be disappeared the way a bitcoin can, but still risky. And like bitcoin, until it is actually sold & the cash deposited into your account the perceived or estimated value is just that – an estimate.

#139 Karl on 08.27.18 at 12:21 pm

Trump is saying it’s his terms for any new deal with Canada or a car tariff on CDN imports to US.

Your move Mr. Trudeau.

#140 George on 08.27.18 at 12:33 pm

The bigger news is Polozs speech today about raising rates faster. Canadian dollar perked up. VFV still up despite CAD being up as S and P is nearing 2900.

The general population still thinks the market is “red hot” as the media tells it. I know people who tell me despite the crash in west side prices that east side prices will never drop just because it’s different here.

That pile of heap in Kits that was featured on this blog for 3.9m? Wanna know the real story behind that? Apparently the owner had 64k in mortgage monthly as they had turned to private lenders charging huge interest. How much do you wanna bet that the fire last year was staged?

Everything is an illusion in YYZ and YVR. Real estate is a MAJOR risk right now. Borrowing to buy real estate is riskier than just buyin stocks out right. At least if you buy with cash for stocks you will never be under water. Real estate investing is for losers who can’t do math. Should’ve paid attention in high school. Pathetic A.

#141 KLNR on 08.27.18 at 12:42 pm

@#126 Jungle on 08.27.18 at 10:52 am

___________________

Shhhhh.
doesn’t fit the narrative on here :)

#142 Ace Goodheart on 08.27.18 at 12:59 pm

Re: #118 Remembrancer on 08.27.18 at 10:04 am

“Though maybe disclosure rules and penalties a la a an offering prospectus need to beefed up I’d be intrigued by what regulation you see as necessary or useful?”

Where can I start?

The most important contract that most people will sign, in their entire lives, is negotiated for them by two commissioned salespeople with no legal training and no understanding the legal ramifications of what they are doing.

This contract is then given to a lawyer to complete the closing. The lawyer has no input into the writing of the contract, and is only involved at the last minute when it is implemented.

This is nuts. The only person who should be acting on the negotiation of a contract for the purchase and sale of a house is a lawyer.

“Auction contracts”: Not only are these property sales contracts negotiated by people with no legal training, but they are negotiated in the dark, during blind auctions, with the people who are signing them being pressured to waive conditions that, if waived, could have the result of ruining them financially and destroying the remainder of their lives.

If you are going to auction houses, it has to be done with rules. The auctions should be in the open, with a known reserve, and conditions of sale should never, ever be part of the auction (ie, waiving financing, home inspections, status certificates, etc, etc.). Bidding should be done by way of an auctioneer, who will take the highest bid. Everyone should know what everyone else is bidding.

Commissioned sales people are being allowed to hold blind auctions, with no rules or regulations, for million dollar + assets that people are purchasing using borrowed money. Auctions for cars and merchandise are subject to regulations. But auctions for houses? No rules at all. Do whatever you like, where every you like, however you like. It’s nuts.

Listings: A stock needs a prospectus. A listing should have a “house prospectus”. Now that we are actually able to view sold data and past listings data, this should be mandatory for all new listings. There should be a “prospectus like” list of information that any real estate listing should have to have. And that should include previous sales prices, sold data, previous listings, comparables in the neighbourhood and any other relevant item so people can have an understanding of what the house is actually worth and the motivation of the seller.

No secrets. If a stock is being publicly traded, then everything is public. Why not for a house being sold to the public?

That is a start. I could add in that the seller might want to provide a list of renovations done on the house and whether or not they had permits (yes, that three story high brick wall in the back, with the cut out for the newly added kitchen beneath it, REALLY is being held up by four two by eights strapped together, which was done by the owner’s cousin at night without a permit, and not by the required steel I beam that should be holding all that weight).

It would be nice to know that your new million dollar + house, is not “the house that Jack and his cousins built on the weekends, while drinking a case of 24, without permits and using dangerous construction methods”.

#143 crowdedelevatorfartz on 08.27.18 at 1:22 pm

@#133 Bytor
“Trudeau’s got to go. Like it or not, you have to work with the elected leaders of other countries whether you like them and their ideologies or not.”
+++++
Yep,
Allowing 5ft o inch Freedland to stomp around the NAFTA table demanding “equality for all genders” enshrined in the deal probably didn’t sit too well with a bunch of Right Wing religious Republican zealots with Trump in their corner.
Canada is going to be ignored until we come begging to the table.
And with our Housing swollen “economy” on the brink of a major readjustment……..
The US can wait, and wait, and wait……

#144 Oft deleted much maligned stock.picker on 08.27.18 at 1:30 pm

#99 Wavy Gravy….

1) Game theory….Trudeau-Butts strategy has failed while Trump is acendant…..try to keep up. Trump is not failing, his opposition is just becoming more erratically confused and is banging pots together hoping to scare his spirit away. Remember …..focus on the signal not the noise. Obama is dead….get used to it.
..

2) Stop listening to leftist anti Trump fake news channels. Your favorite fake news media is not made fact by turning up the volume. The fact is that America is booming and the leftist goons don’t like it. If you’re an investor and you’re not all in it’s because you’re drinking the Marxist bathwater . Turn off the CBC. Bake a cake
…go for a picnic…..clear your head….nothing Liberal Canada whines about affects the US in any way.

#145 The Real Mark on 08.27.18 at 1:31 pm

“#137 TheDood on 08.27.18 at 12:07 pm
#52 Damifino on 08.26.18 at 7:24 pm

Pure travel chauvinism. For some people, life is about finishing the basement. That’s also an experience and a perfectly valid use of one’s time and money…..
____________________

#95 MF on 08.27.18 at 7:10 am
#52 Damifino on 08.26.18 at 7:24 pm

Gonna have to agree with this post.

Travelling is over rated. For some finishing the basement is more enjoyable….

MF
_______________________

LOL! Are you for real?? I can’t make out if there is any sarcasm here or not.”

MF is correct. It’s sad how much people love to live in their own personal bubble. My parents are always telling me to experience life, to travel, to see the world.

For instance, I’ve been saving my allowance all summer for a trip to Wonderland which I’m going on this week with several friends. Talk about experiencing the world, it should be a phenomenal time.

#146 Penny Henny on 08.27.18 at 1:54 pm

130 Stan Brooks on 08.27.18 at 11:33 am
And for you and all proud home owners with giant mortgages I recommend Vaseline as lubricant.

//////////////////////
Well finally!
Stan is limiting his comments to things he knows about.

#147 Keith in Rio on 08.27.18 at 1:54 pm

You know those red MAGA baseball hats?

Well, saw a guy in Chinook Mall here in YYC with one of them. They are the best liberal bait ever. Thing is, his didn’t say MAGA (a slogan and political position I endorse 100%) but rather it had the words………

MAKE TRUDEAU A DRAMA TEACHER AGAIN

#148 El presidente's get it done on 08.27.18 at 1:55 pm

T2 just got schlonged.

#149 Fish on 08.27.18 at 1:56 pm

Canada’s inflation rate rises to 3%, highest level since 2011

https://www.cbc.ca/news/business/canada-inflation-rate-1.4788818

#150 AGuyInVancouver on 08.27.18 at 3:01 pm

#95 MF on 08.27.18 at 7:10 am
#52 Damifino on 08.26.18 at 7:24 pm

Gonna have to agree with this post.

Travelling is over rated. For some finishing the basement is more enjoyable.

My parents are a good example. No debt, house paid off, money in the bank invested, a pension…yet they have no desire to travel and enjoy themselves immensely right at home.

For us younger people, it’s clear those who like to travel do it for Facebook and Instagram photos and like to believe it makes them into something special…when in fact no one cares.

MF
_ _ _
So many little canadians here, with no higher aspirations than sitting on the sofa watching Hockey Night in Canada with Mabel. Sad.

#151 crowdedelevatorfartz on 08.27.18 at 3:13 pm

Yo !
Jungle!

You did check out the link ” #149 fish” provided yes?

Let me help.

And I quote

“The strong inflation number caused the loonie to gain half a cent to 76.50 cents US. That’s because investors are interpreting the strong inflation number as a sign the Bank of Canada will be more likely to raise its benchmark interest rate next month as a result (which would make the Canadian dollar more attractive for foreign investors.)”

Interest rates GOIN Up UP UP !

Yeeeeeeee Hawwwwwwwwwwww

Git them Audi Leases back in the barn.
There’s a storm a comin!

#152 Stan Brooks on 08.27.18 at 3:47 pm

#146 Penny Henny on 08.27.18 at 1:54 pm
130 Stan Brooks on 08.27.18 at 11:33 am
And for you and all proud home owners with giant mortgages I recommend Vaseline as lubricant.

//////////////////////
Well finally!
Stan is limiting his comments to things he knows about.

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

Exactly,

I am very good at diagnosing idiots and prescribing the appropriate remedy to reduce their pain.

Ignore my prescriptions at your own risk.

#153 Guelph price update on 08.27.18 at 4:10 pm

Went to a couple of open houses on the weekend. Did not see anyone else around. Crickets is the word on the blog right?
But prices are still not budging. Not sure why anyone would pay 3/4 of a mil to buy here. The price to rent ratio is around 25. 15 I think is the edge of sensibility.

#154 crowdedelevatorfartz on 08.27.18 at 4:14 pm

@#150 AguyinVancouver

Please regale all us “little Canadians” who choose to become “do it yourselfers” rather than world traveller extrodinaires.

Where were you last week Stadd? Mystique? The hotsprings of Kamchatka ?
Do tell.

#155 tccontrarian on 08.27.18 at 4:41 pm

“My husband reads your stupid, yes – pathetic – blog every day, even at night aloud when I’m trying to go to bed.”
—–

Hey Alyssa! Don’t you see that your husband is doing RE foreplay? Works for me and my wife – but I only show her the pictures!

TCC

Are you married to a Labrador? – Garth

#156 Midnights on 08.27.18 at 5:00 pm

The Hunger Stones Have Appeared
Martin Armstrong
https://www.armstrongeconomics.com/international-news/nature/the-hunger-stones-have-appeared/

#157 Mattl on 08.27.18 at 5:03 pm

#94 SoggyShorts on 08.27.18 at 2:15 am
#66 maka on 08.26.18 at 8:56 pm

check this listing history for fun.
https://housesigma.com/web/house/MB5bO3xRxolykWVP/877-Spinning-Wheel-Cres-Mississauga-L5W1W4-W4210692

2014-05-12 sold- 680K
2018 listed for 1.25 million (terminated twice)
2018-08-04 re-listed for 1.16 million

If the seller finds a greater fool, the net profit is over 300K in 4 years.
*************************
680K invested into the S&P 500 would have made
$426,033
So there’s that….
https://dqydj.com/sp-500-return-calculator/
_______________________________________

And the 68K that he likely would have had to invest – RE is bought with leverage – would have returned 30K. And if renting he would have spent an additional 100K in rent for a SFH.

So there is that.

And this is where you doomers lose you minds. A tiny percentage of Canadian RE bought over the past 30 years was bought at 2017 or 1989 peak prices. And most RE is bought with leverage. This isn’t an either/or proposition for most people.

And for every guy that bought at peak, there are multiple more that bought outside of peak. You guys look at everyone with an expensive home and think you have the inside edge. You fail to realize how many homeowners have a ridiculous amount of equity and can make their payments. No downturn is going to wipe them out. Something like 40% of Canadians are mortgage free.

The big losers will be long term middle class renters and overextended homeowners that bought at peak and have to sell. The first group is far larger then the second, and there is no crash that will get them into the market. If you missed it in 2008, 2011, 2013 and 2015 you are not getting in in 2021.

And rents will be going up. I guess you can always live in a slum in the Philippines, or a single room in Winnipeg but a SFH rental in Burnaby or Mississauga is 3000+ today and will be 5K+ in the next few decades. Rents in Mississauga have been going up 5% per year the past 5 years, that’s quite the bite out of a 7% return on a balanced portfolio. I fully expect that to slow down but it’s never even considered in these discussions.

#158 Midnights on 08.27.18 at 5:18 pm

Modern Love – Internet – Changing Patterns in Marriage/Divorce
https://www.armstrongeconomics.com/armstrongeconomics101/economics/modern-love-internet-changing-patterns-in-marriage-divorce/

#159 Gravy Train on 08.27.18 at 5:28 pm

#130 Stan Brooks on 08.27.18 at 11:33 am
“… And for you and all proud home owners with giant mortgages I recommend Vaseline as lubricant….”

#146 Penny Henny on 08.27.18 at 1:54 pm
“Well finally! Stan is limiting his comments to things he knows about.”

#152 Stan Brooks on 08.27.18 at 3:47 pm
“Exactly, I am very good at diagnosing idiots and prescribing the appropriate remedy to reduce their pain. Ignore my prescriptions at your own risk.”

Stan, I think you missed what Penny Henny was getting at! :)

#160 Russ on 08.27.18 at 5:29 pm

tccontrarian on 08.27.18 at 4:41 pm
“My husband reads your stupid, yes – pathetic – blog every day, even at night aloud when I’m trying to go to bed.”
—–

Hey Alyssa! Don’t you see that your husband is doing RE foreplay? Works for me and my wife – but I only show her the pictures!

TCC
—————————————————

Are you married to a Labrador? – Garth

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

I’m thinking her family is from both sides of the border but she was born in Quebec?

Cheers to smile.

#161 Gravy Train on 08.27.18 at 5:54 pm

#144 Oft deleted much maligned stock.picker on 08.27.18 at 1:30 pm
“… The fact is that America is booming and the leftist goons don’t like it. If you’re an investor and you’re not all in it’s because you’re drinking the Marxist bathwater.”

Are you one of those ‘anti-globalist’ fruitcakes (like Smokey)? How can you be against globalization, for nativism and protectionism, and yet have a stock portfolio? It makes no sense, genius! :)

#162 Tony on 08.27.18 at 5:59 pm

Re: #12 Xpat on 08.26.18 at 2:55 pm

Resale apartments and resale townhouses in Edmonton, Alberta today on average are selling for half or 50 percent of what they sold for way back in the summer of 2007 over eleven years ago. If this was made available to the general public they’d learn that when Vancouver and Toronto doubled and tripled in price most of the Edmonton market fell in half instead of doubling or tripling.

#163 Tony on 08.27.18 at 6:05 pm

Re: #153 Guelph price update on 08.27.18 at 4:10 pm

The rule of thumb when buying residential real estate is never pay more than 100 times the monthly rent.

#164 Tony on 08.27.18 at 6:09 pm

Re: #151 crowdedelevatorfartz on 08.27.18 at 3:13 pm

Unfortunately the 10 year treasury bond in America is 100 percent rigged to stay below the 3 percent threshold for at least the next 1,000 years.

#165 crowdedelevatorfartz on 08.27.18 at 8:01 pm

@#164 Tony

hahahahahaaha.

Good one!
Almost choked on my drink…..but not quite.

#166 Oft deleted much maligned stock.picker on 08.28.18 at 6:49 am

#161….GT….. I don’t wake up in the morning feeling guilty about being Caucasian or the state of affairs in Chad or Venezuela. I invest in the empire….that’s us. If the rest of the world doesn’t want to come along I’m not voting to send them my tax dollars. Nativism, and protectionism as you call it, is also described as Western Civilization. If you want something else go there and tell us how it works out for you…..take your family too.

#167 Gotta Get Out of Calgary on 08.29.18 at 1:08 am

I am curious as to why Alyssa states that if they do not buy a house now, they never will.