Punched in the gut

First, a moment to reflect on poor Harrison Houde. This wounded dude scraped together every cent in the world to buy a Vancouver condo, which he then leased to some substance-addled pimp who turned his space into a wild brothel littered with sex and drug droppings. At least that’s what H’s mom said when she went to investigate.

So what does an amateur landlord do when tenants sully the premises? Moan and snivel, of course. Then call his parents. And, natch, start a GoFundMe page . Says blog dog Mike, “When your investment turns on you, time for your friends to pay up? Wow…just wow…”

Mike thought you might enjoy this. Bandit and I did:

I am at a loss of words, within the last 5 months my tenant turned my only apartment into a brothel / prostitute ring of some sort, with severe damages to my once mint apartment, and even stole paintings, and ruined furnishings. It was disgusting what was left, trash cans filled with used condoms, heroin, drugs, a dark web internet modem, burner phones, the nightmarish list goes on, it’s atrocious…. He hasn’t paid this months rent, and was apparently subletting it; but more likely using it to pimp out multiple women. I am in shock that this happened, especially considering the luxury building it happened in that has 24/7 concierge, and security, and a ban on short-term rentals.

You may think; if you can afford to own the condo, you can afford the damages. Here’s my story; I work in the film and entertainment industry and used ALL my earnings over the course of 5 years to get a mortgage on this condo 4 years ago in Vancouver… I am in shock when he didn’t pay this month and my parents gave notice to inspect the unit after the tenant didn’t even respond to multiple requests from us asking for rent payment when he was late. My parents went into the unit, and what they saw was atrocious… I can’t believe this has happened. I am in shock, and tears, and I feel like I have been punched in the gut.

Estimate of damages, stolen furnishings, loss of rent, and loss of an extra month to deal with this / fix the apartment to re-rent to a new tenant will cost upwards of $10,000 Canadian. A cost myself, nor my parents can afford. I am currently living month-to-month like many hard-working individuals, with no savings after moving to LA to further pursue my dreams…

We had called the tenant / landlord BC board multiple times, and you cannot just kick out somebody or change the locks, (under these circumstances we were allowed because of the illegal activity, and severe damage) but it happened so quick, and the BC tenancy act make it difficult to evict a tenant, almost all the rights are with the tenant and not the landlord. Many of those laws certainly make sense! But in special cases, like this, they simply do not… and really can screw over a landlord, and their investment.

The moral of the story: screen your tenants. Second moral: never buy a condo to rent out. Third moral: especially in Vancouver. Fourth moral: If you’re going to have a brothel, it’s best to rent.

Okay, now a follow-on to the USMCA piece published here yesterday, because in the last 24, many more people are supporting what this pathetic blog prophesied: we have absolutely, for-sure turned the corner on interest rates. Hope you locked in.

Look, for example, what JP Morgan just said: “The era of zero interest rates in the world’s major economies ended with the Federal Reserve’s decision to raise borrowing costs last week.” In fact five central banks hiked in the last week, the most in any seven-day period since records were first gathered 17 years ago. Exactly 12 months since the crash of Lehman Brothers, which ushered in the GFC and emergency interest rates, they are over. Kaput. Normalization is now occurring in country after country, led by the US Fed which has hiked nine times, going from 0% to 2.25%, on its way to plus-3%.

Now, look at what’s just happened to bond yields in Canada since the new trade agreement was negotiated, then announced – a seven-year high:

This is why you should expect mortgage rate increases in the next short while, and why the Bank of Canada will move on the 24th. Three or (more likely) four increases lie ahead in the next nine or ten months, which will add about 30% to the cost of a mortgage. The impact on the real estate market will be material.

After all, as we’ve pointed out so many times, there is a perfect, textbook, inverse correlation between rates and house prices. Property values soared not because of Chinese dudes, money laundering, evil realtors or your acumen in buying some, but almost exclusively because credit’s been cheap and people have borrowed themselves into oblivion.

Now that the Bank of Canada knows a Trumpian trade war against Canada isn’t happening, a major economic uncertainty has been removed. Our rates can restore along with those in so many other jurisdictions, ending the distortion in asset values which cheap money has caused. Real estate in bubble markets is most at risk. Equities will also be impacted, but with record corporate profits, economic expansion and trade peace, there are reasons to keep buying them. Besides, people don’t take on 20x leverage to build an ETF portfolio the way they do to get a condo in, say, Vancouver.

Harrison may be screwed in more ways than he and his mom imagined.

158 comments ↓

#1 Pimp on 10.02.18 at 4:44 pm

Hey Harrison, any chance I can get my damage deposit back? Text me when you get a chance. Thanks Bro.

#2 ShawnG in TO on 10.02.18 at 4:50 pm

i was just reading zero (for lulz) and they have this article titled “Making Money Isn’t Supposed To Be Easy” talking about this exact thing

people like H eventually wipe out, unless he gets some financial education quick

#3 Victor V on 10.02.18 at 4:55 pm

Vancouver home sales sink in September as listings hit multi-year highs

https://www.bnnbloomberg.ca/vancouver-home-sales-sink-in-september-as-listings-hit-multi-year-highs-1.1146273

#4 Dave on 10.02.18 at 4:59 pm

Are the china tariffs going to cause hyper inflation leading to .5 increase in interest rates?

#5 House searcher on 10.02.18 at 5:00 pm

Looks like your best ROI for condo appreciation in Toronto isnt that King West address: https://pinithome.com/condos/toronto/

Absolutely crazy to think a dodgy Kipling & Finch building saw 34% year-over-year average sale price growth across the last 36 months (Ranked #1 for sale price growth in the city!!!!!!). Way cheaper option than those downtown units!!

#6 some guy on 10.02.18 at 5:03 pm

I was laid off recently due to outsourcing and yes, I work in IT.

Any tips or advice from the crowd here for finding a new job?

#7 If X, then can't be Y on 10.02.18 at 5:05 pm

Yes the zero % interest rates drove housing upward.

But that doesn’t mean the “chinese dudes” didn’t matter.

Their money did matter.

It was the perfect storm to drown household balance sheets.

#8 crossbordershopper on 10.02.18 at 5:12 pm

https://miami.craigslist.org/brw/reb/d/lakefront-2-2-plus-den-with/6707820717.html

lovely place in south florida, its cold and rainy in southern ontario. landlords in canada with their negative cash flow to build equity, they are buying equity. thats all.
go to america.better weather, real dollars, less taxes, more opportunities.

#9 bubbleTrouble on 10.02.18 at 5:12 pm

6 houses for sale in a row in Langley BC

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

#10 Smartalox on 10.02.18 at 5:16 pm

If you’re going to pursue your dream, you have to jump in with both feet. Harrison should have sold the condo, and used any profit to chase his dream in LA.

(Word of caution: many there are still chasing their dreams in LA)

Still, in the scheme of things, $10G is not a life – altering amount of money. It’s two or three years worth of debt repayment and a little ‘life experience’.

Why not write a script based on his experience, and sell it to HGTV as a movie of the week?

Harrison makes it sound like such a travesty! Of course, if you’re dream is to ‘make it’ in LA, being a huge drama king is probably an asset.

#11 Smith on 10.02.18 at 5:23 pm

He’s in trouble for sure. Better sell now or hang on for dear life until the next financial crisis forces the interest rates down to zero again.

#12 Smartalox on 10.02.18 at 5:27 pm

Sure, zero-% interest rates from the GFC may have fuelled the dizzying run up in Real Estate, but if you look at charts of median prices (Vancouver’s REBGV median price as an example) prices really started galloping in 2003 – 2004.

Foolishly, in spring of 2007, I bought a Van East Side condo that had doubled in value from its previous sale in 2005 – which was consistent with what the market was doing at the time.

My interest rate was 5.05% – a ‘deal’ when posted prime was around 7% (!).

After the crash, I sold for about the same price that I’d bought – then got walloped by a mortgage prepayment charge, calculated on the basis of the difference between the interest rate I was paying on my mortgage (5%) and the 2% rates that enacted as a result of the crash.

Insult + injury, to the tune of about $25,000.

Still, I got out before a special assessment of $45k, so I considered myself fortunate.

#13 the ryguy on 10.02.18 at 5:32 pm

And let me guess..Harrison has been hoovering the “hard earned equity” gained in the past 4 years, otherwise 10 g’s shouldn’t be a big deal.

Shocking in a city where they actually HOSTS a weekly market that let bums sell all their stolen merchandise that something like this could happen. Wonder where all the neighbours were? Is this one of those ghost buildings in Van?

“I am in shock that this happened, especially considering the luxury building it happened in that has 24/7 concierge, and security, and a ban on short-term rentals”

Please dude, this is Canada, who do they hire for these jobs? You think they really have “security” at 2AM in these places? Lol, some slob sits there and watches youtube and will probably call the police if bums come inside..otherwise they don’t do anything.

#14 HoweStreet.com on 10.02.18 at 5:42 pm

Ross Kay on HoweStreet.com Radio:
Real Estate Investment Scams Hit BC.
New NAFTA could set off Recession.

https://www.howestreet.com/2018/10/01/real-estate-investment-scams-hit-bc/

#15 Renter's Revenge! on 10.02.18 at 5:47 pm

Harrison should cut a deal with the pimp. Free access to the drugs and prostitutes, or a cut of the profits, plus rent due in exchange for not reporting him to the police.

“Welcome to Vancouver”

#16 Alessio on 10.02.18 at 5:49 pm

Vancouver condos are a lotto win. Who cares if renter left condoms behind.

#17 dakkie on 10.02.18 at 5:49 pm

The Problem of Corruption in the Professions and the Pressure to Remain Silent

http://www.investmentwatchblog.com/the-problem-of-corruption-in-the-professions-and-the-pressure-to-remain-silent/

#18 JohnAB on 10.02.18 at 5:54 pm

#6 some guy
If you are a good specialist, then you’ll find a job in no time. Else, start studying for whatever is required on the market. Web (back-end and front-end) is hot right now. Personally I am a .NET dev and I still get a lot of e-mails from recruiters on Linkedin. And BTW, polish your resume and linkedin profile, connect to as many as possible recruiters, put a big “looking for new opportunities” on your profile, don’t say you were let go, just that you need a new challenge, and you’ll be back working pretty soon. OR, if you feel you’re not good enough for the market, find a government job. Turns out they hire lots of not-as-good devs.

#19 BlogDog123 on 10.02.18 at 6:00 pm

Harrison is in the film industry. Can’t he rent out his now heroin-brothel for a movie shoot? Or is it too realistic for film?

#20 Millennials.... good grief on 10.02.18 at 6:01 pm

DELETED

#21 Ben on 10.02.18 at 6:04 pm

Chinese dudes did play a role. Otherwise how can you explain the run up in basically two cities which also happen to attract the most immigrants? If it’s purelh rate driven Edmonton prices wouldn’t be stagnating.

#22 Jacques Strappe on 10.02.18 at 6:05 pm

Harrison, when given lemons, try to make lemonade.
Maybe you could negotiate damages with the pimp through ‘payment in inventory’ for you and your friends. It’s not financial compensation, but you’ll be the coolest bro in your crew for at least a little while.

#23 Smith on 10.02.18 at 6:06 pm

I don’t think condos were a terrible idea if your mortgage payment was equivalent to renting and your downpayment is insignificant. Buying an investment condo at these prices would be unwise. It’s all about the numbers.

Six figure downpayments for investment properties should always be analyzed carefully. A 200k downpayment into a condo could be redirected into an s&p 500 ETF. At historical returns you will have 2.16 million in 25 years and no hassle.

Could you do better with an 800k condo? Sure anything is possible. It seems like the ETF is far less risky though.

If you bought a 100k rental condo with 5% down then you might make a better return with the condo over 5-7 years. As long as you can rent it out.

It’s all about the scale and the downpayment. Large downpayments and large mortgages are a terrible way to make money long term .

#24 Michael on 10.02.18 at 6:10 pm

I find myself wondering…when (not if) rates rise and mortgage defaults start (hello 1980’s!) those who planned poorly will be pooched.

But what will this do to the investment world? What will happen to the investor who has a balanced portfolio? Surely disposable income will shrink (likely nobody will be buying “stuff” while financially underwater).

Won’t that impact on corporate profits?

Seem as those those who have saved and invested wisely could end up kinda paying for the mistakes of others?

Surely there is no disconnect between the markets and consumer financials.

Perhaps warrants a blog post detailing the ins and outs of what a balanced portfolio might do if/when the real estate market is hit with higher rates and defaults start.

What say you, Mr. Turner?

#25 islandgirl on 10.02.18 at 6:13 pm

I experienced that kind of rental horror. We bought a house because we had drank the koolaid, ended up not moving and decided to rent the house instead. After managing directly and getting soaked by our first tenant (made this guys complaint seem like nothing), we had a management company take over for the next renters. When after 3 years they decided to move we said screw this, and sold the house. “Made” $25,000 in the sale, but lost at least $40,000 over the whole process. Lesson learned, I will never be a landlord again.

#26 Gravy Train on 10.02.18 at 6:16 pm

#6 some guy on 10.02.18 at 5:03 pm
“I was laid off recently due to outsourcing and yes, I work in IT. Any tips or advice from the crowd here for finding a new job?”

Read Dick Bolles’s What Color is Your Parachute?. It’s arguably the best book on job search and career change, and there are dozens of copies in the library.

Here’s his Web site: http://www.jobhuntersbible.com

#27 Stan Brooks on 10.02.18 at 6:20 pm

It seems investors are nobody’s fool,

Loonie ‘surged’ 1.3 % on Monday with oil up over 3 %
while TSX went down after Friday evening by over 60 points with Dow up 350 points by EOD today.

https://www.cbc.ca/news/business/canada-stock-market-performance-laggard-1.4526473

But Schamotta said there’s a deeper problem that the lagging TSX highlights: that international investors don’t see as much opportunity in Canada right now.

“Global markets are increasingly aware that Canadian households are severely indebted — meaning that the consumption growth that has long powered the economy is unlikely to be sustained.”

Schamotta said the issue here is that the TSX is actually pretty reflective of our economy and the lagging performance is yet more proof that we need to diversify.

“We as an economy need to become more competitive,” he said.

Canada ranks second last (ahead of only Italy) in the G7 for research and development as a percentage of GDP. For too long we’ve been a consumer-led economy. If we don’t address that, it’s not just the stock market that will fade. It’s the broader Canadian economy.

#28 Nonplused on 10.02.18 at 6:32 pm

Record snowfall in Calgary today! (For October 2nd that is.) Weee! Global warming at it again! I don’t know how I am going to find my mole traps, they be buried.

The news says plow trucks are coming in from all over the province to help. The city got their equipment out too but too late for the morning commute because they don’t typically switch to snow mode until the 15th. The morning commute was hell. City transit sent out a note that buses would not be stopping on hills so walk to the top or the bottom. I don’t know if that worked though because nobody else could get up the hills either. On a day like today 4 wheel drive doesn’t even help because the bozo in the Mustang in front of you isn’t going anywhere.

And it’s still snowing! Weee! I don’t know how long my dog can hold it but he’s refusing to go outside. Wimp.

On the plus side if this is a harbinger of things to come it should be an epic ski season!

#29 ContentIn306 on 10.02.18 at 6:33 pm

#6: C’mon out to Sask. There’s a major shortage of senior developers(in the hundreds, even)..and lots of jobs in IT left unfilled. Plus our RE bubble has already deflated some in S’toon. I’m sure there’s more to come…but it means rentals abound, too.

#30 Jordan Peterson is my hERo on 10.02.18 at 6:35 pm

Who wants to bet that the condo concierge was afraid of being accused of racism or sexism, and that was why they allowed the pimp to treat his women like cattle while the condo board and security do nothing.

But if you’re a law-abiding man and you offend a feminist, all hell breaks loose!

#31 Newcomer on 10.02.18 at 6:35 pm

#24 Michael on 10.02.18 at 6:10 pm

Seem as those those who have saved and invested wisely could end up kinda paying for the mistakes of others?

———

If you invested wisely, then you should be OK. Lots of things will go down in a market downturn, but if you bought solid fundamentals, they will go up again later. At the end of the day, when it comes to investments, we only pay for our own mistakes.

#32 kommykim on 10.02.18 at 6:39 pm

I really dislike how GoFundMe has changed from mainly helping small startups into a begging and charity website.

#33 It's the banks, stupid on 10.02.18 at 6:40 pm

Unsurprisingly, ownership costs rose the most in high priced markets last quarter.

That’s because mortgage payments are very sensitive to interest rates in these markets. The aggregate measure increased by 1.6 percentage points 88.4% in the Vancouver area, 1.8 percentage points to 75.9% in the Toronto area and 2.4 percentage points to 65.0% in Victoria.

These represented the worst ever levels on record since the mid 1980s in all three markets. No wonder the current generation of local buyers feels overwhelmed because no other generation has faced as much affordability pressure in this country.

BC: the greatest place on earth.

#34 the Jaguar on 10.02.18 at 6:42 pm

I love ‘Wow, just wow’. It’s as though Christoper Walken was in the room with me right now.
So the condo owners parents bought him a condo to help him along the road to financial acumen and maturity. Guess it backfired given he called 1-800-mommie when the fecal matter hit the osculating rotator. What amazes me is that with a 24 hour concierge service in this la-dee-da upscale condo that nobody detected the comings and goings of a less than savoury crowd. Or maybe the concierge had his or her palm greased. It demonstrates that so much around us these days is just a superficial attempt to convey style without substance. Mediocrity in the absence of real depth, grace and elegance. These qualities are so overlooked by those that cannot recognize them. They are enduring however, and it will be fun to see their return when everything around us turns into the opening scene from BladeRunner.

#35 TheDood on 10.02.18 at 6:42 pm

#6 some guy on 10.02.18 at 5:03 pm
I was laid off recently due to outsourcing and yes, I work in IT.

Any tips or advice from the crowd here for finding a new job?
____________________________________

Don’t limit your job search to Canada, look south and overseas. If you’re any good, someone will snatch you up in no time, pay USD, tax free, or both!

#36 Remembrancer on 10.02.18 at 6:42 pm

Got no dog in this fight and landlord’ing isn’t a picnic, but in the interest of media awareness Harrison’s GoFundMe page has an interesting artistic contrast:

Is it just me or are the “before” pictures all sweeping vistas of renovated condo glory and the “after” close ups of corners, garbage piles and maybe a dented fridge etc? And who laid that strip floor?

Not saying anything in particular, just saying – a wider view of the carnage might solicit more sympathy though as this is a visual medium…

#37 crowdedelevatorfartz on 10.02.18 at 6:43 pm

I saw the exact same scenario play out in a brand new condo highrise in downtown Van a decade ago.

Absentee owners renting to whoever .
The 24hr concierge ignored the “comings and goings” for his own self preservation.
The quiet, well run building turned into a gang infested shitehole in less than 2 years.

And with the rise in interest rates……its only going to make condo “flippers and speccers” even more desperate.

#38 Bob Dog on 10.02.18 at 6:44 pm

#6 some guy

NAFTA TN visa if you have the chops to make it though a FAANG interview.

Get the hell out of this ridiculous excuse for a country.

#39 Crooked Hillary ? on 10.02.18 at 6:50 pm

Talk about calling the kettle black !

https://www.businessinsider.com/new-york-times-trump-tax-fraud-father-fred-inheritance-2018-10

#40 slam on 10.02.18 at 6:50 pm

#23 Smith on 10.02.18 at 6:06 pm
I agree with this method too:
“Six figure downpayments for investment properties should always be analyzed carefully. A 200k downpayment into a condo could be redirected into an s&p 500 ETF. At historical returns you will have 2.16 million in 25 years and no hassle.”

But when you get a mortgage to leverage the real estate purchase, it would be the same as borrowing to invest. Many people find it easy to get a mortgage and buy a condo but find it hard to borrow and put all of it into a S&P 500 ETF.

#41 Pimp my rental on 10.02.18 at 6:51 pm

Happens to the best of us…..

https://youtu.be/yRIVzA27lA0

#42 Yukon Cornelius on 10.02.18 at 6:54 pm

Maybe he can take it out in trade.

#43 Shawn Allen on 10.02.18 at 6:55 pm

Yeah $10G is a big deal!

#13 the ryguy on 10.02.18 at 5:32 pm said:

And let me guess..Harrison has been hoovering the “hard earned equity” gained in the past 4 years, otherwise 10 g’s shouldn’t be a big deal.

**************************************
Actually it is a very big deal to almost anyone. Harrison has no cash and probably no desire (and maybe limited or no ability) to borrow against the unit even if it has appreciated in value.

No one ever got rich with an attitude that a $10k unexpected loss was no big deal. Especially one caused by what amounts to vandalism.

The guys worth $10 million and more are probably the ones that sweat hardest over a $10k loss caused by some a-hole.

You don’t HAVE to have any empathy for Harrison but to suggest $10k is no big deal is just strange.

#44 AGuyInVancouver on 10.02.18 at 6:59 pm

#7 If X, then can’t be Y on 10.02.18 at 5:05 pm
Yes the zero % interest rates drove housing upward.

But that doesn’t mean the “chinese dudes” didn’t matter.

Their money did matter.

It was the perfect storm to drown household balance sheets.
_ _ _
Yep that continues to be this blog’s blindspot. The reason Vancouver along with Australian cities like Sydney and Melbourne saw such huge run-ups in prices despite local wages stagnating. No matter how low rates are, banks won’t lend millions to buy a Vancouver bungalow. The NDP probe into money laundering and real estate will uncover some very nasty stories, and some will be eating crow.

You people are obsessed. The cause of high prices for average homes is clear. Average people did that. – Garth

#45 Linda on 10.02.18 at 7:00 pm

Now that interest rates are on the rise, I sure hope that those who were diligently paying down debt (including mortgage debt) get a much deserved accolade. Yes, investing funds instead of paying down debt when rates were low made sense, except far too many were taking on debt they simply could not handle. Now that rates are going up, the over leveraged will wish they had chosen differently.

It seems to me that a truly balanced approach during the period of low rates between 2008 & today would have been to split any ‘excess’ funds 50/50. Half to go towards debt repayment, half to building up financial assets of whatever variety. What seems to have happened instead is 1) people went all in, borrowed to the max & if they invested chose whatever they thought would get them the highest yield, regardless of risk or 2) put any excess funds into HISA/GIC. Or stuck everything into a single fund with a high MER controlled by whatever financial institution they deal with.

Most of us have been around long enough to hear tales of woe from others. Why then do we repeat their mistakes?

#46 FOUR FINGERS WATSON on 10.02.18 at 7:01 pm

West Vancouver has become so unaffordable even the middle class need subsidized housing to live there, the city says.

Officials are considering building 170 units of “workforce housing” for professionals, not just the working poor one might expect.

“No one that lives here works here and no one that works here lives here,” mayoral candidate Mary-Ann Booth told CTV.

An income of “$100,000 or $75,000 used to be enough to buy or even rent a place in West Vancouver, and that is no longer the case,” she added.

Council voted unanimously last month in favour of public consultations on designs for the project, planned for land the municipality bought from Vancouver Coastal Health in 2014. Units would be offered at 70 per cent of market value.

A non-profit would be in charge of determining who is eligible for a subsidized unit.

West Vancouver has seen its population fall the last five years as the cost of living skyrockets.

According to West Vancouver Teachers Association president Renee Willock, only 13 per cent of teachers who work in West Vancouver also live in the city.

“I think you have to ask yourself, what’s it going to cost your community not to? What does a community look like when your entire workforce is migrant, coming in every morning, leaving every evening? Where does the vibrancy of the community come from?”

#47 penguin on 10.02.18 at 7:01 pm

Sorry, off topic. In lieu of signing a BRA, is signing a Buyer Customer Service Agreement (Form 310 in Ontario) acceptable?

#48 Kelly on 10.02.18 at 7:02 pm

With the rising interest rates, one can soon buy 4% GIC’s and not have to invest in a second rental property.

Wow. Inflation at 2.5% and the 4% return is 100% taxable on interest you have not yet received. Some deal. – Garth

#49 Mean Gene on 10.02.18 at 7:05 pm

Take out a HELOC, fix it, then sell it and move on.

#50 Figus Makum on 10.02.18 at 7:06 pm

Some may call it tax evasion, but the Trump family prefers to call it tax avoidance.

https://www.nytimes.com/interactive/2018/10/02/us/politics/donald-trump-tax-schemes-fred-trump.html?action=click&module=Top%20Stories&pgtype=Homepage

https://www.nytimes.com/interactive/2018/10/02/us/politics/trump-family-wealth.html?action=click&module=Top%20Stories&pgtype=Homepage

#51 joblo on 10.02.18 at 7:19 pm

Now that T2 has solved the CAMUS deal and Kitimat next kiss up to India please and fix the CRA sitch.
Last CRA call ended with the agent telling me to GO to HELL you Bastard!
Today when I politely asked how the weather was in India she said BAD like your face!
I’m so butt hurt.

Enjoy your audit. – Garth

#52 FOUR FINGERS WATSON on 10.02.18 at 7:21 pm

Yep that continues to be this blog’s blindspot. The reason Vancouver along with Australian cities like Sydney and Melbourne saw such huge run-ups in prices despite local wages stagnating. No matter how low rates are, banks won’t lend millions to buy a Vancouver bungalow. The NDP probe into money laundering and real estate will uncover some very nasty stories, and some will be eating crow.

You people are obsessed. The cause of high prices for average homes is clear. Average people did that. – Garth
…………………………………….

Garth, with respect, you are equally obsessed in the opposite direction. The evidence of foreign and criminal influence is also clear.

Evidence is not causation. It is total myth that YVR prices in general were set by non-residents. But why argue with the wilfully blind? – Garth

#53 common sense on 10.02.18 at 7:23 pm

Yes things are really BOOMING all over at what cost to the debt of the USA , CHINA etc…US GDP 4.2% and debt rose over 7% to achieve that.

Garth, your an astute business MAN .Would you spend 7% to make 4.2%?

Raise those rates! Everyone can sure handle them worldwide.

#54 Dave Scotts on 10.02.18 at 7:24 pm

Garth, Canada 30 year bond can’t stay above 2.5% for long. This has happened at least 4-5 times since Trump has been elected. It close down today at 2.45% from 2.48%.

Sure short term rates are up but we know that is a suckers game that in 5 years or less will most likely be lower interest rates.

Long term rates can’t budge higher. This is despite 4 rate hikes from the Bank of Canada and 8 rate hikes from U.S. Federal Reserve. It looks like rates will not be much higher anytime soon. It’s a crying wolf scenario.

#55 Donald Trump = Fraudulent Criminal on 10.02.18 at 7:31 pm

“outright fraud”

Looks like the beginning of the end.

https://www.cnn.com/2018/10/02/politics/donald-trump-tax-schemes/index.html

#56 Remembrancer on 10.02.18 at 7:35 pm

#6 some guy on 10.02.18 at 5:03 pm
I was laid off recently due to outsourcing and yes, I work in IT.

Any tips or advice from the crowd here for finding a new job?
—————————————————————-
#18 JohnAB has some good inputs, though seems to have a chip on his shoulder re: government, on that it depends, some of the smartest tech people I know work for the government in various TLAs, though point taken there are many button pushing code monkeys too.

Linkedin is table stakes, you’ll want to have a well developed page there and use it to connect with recruiters as well as prior colleagues etc but its not the last word by any means – way too many people Like’ing their boss’ posts and generally kissing ass or connecting to anyone who will respond to them. Go for quality over quantity there. There’s lots available on the web on how to curate a Linkedin profile and lots of free articles on job searches, interview tips etc. Sites like Indeed.ca is as important a resource depending on the skills area and market you are in / looking for new work – developing your profile there is important as well as getting a perspective on your local market or somewhere else.

Anyway, first thing is an honest self-assessment on where you stand, financially, location / job market-wise, relationships inside and outside the home and technical / soft skills-wise, not necessarily in that order. Be sure to have an honest view for yourself of why it was you were down-sized and whether that means you need to change, improve or build on anything in particular. What are you good at? What has every employee assessment for last 5 years said? What energises you and gets you up in the morning? Many times its just business conditions that lead to job loss, not my business but you need to be able to confidently say that assuming its true…

As you are looking to move elsewhere in IT its going to be about location / job market availability, skills + experience and the elephant in the room, your age. Its there, its real, maybe digital native BS or not – you are going to have to look at where you are in your career and if in 40s / 50s (or higher) then its a different perspective to have than if you are in 20s-30s range for the types of roles, companies and technologies to be looking at… Again, postings in sites like Indeed and information in Glassdoor etc are invaluable to use for research and look for potential matches or areas you need to tool up in. What soft skills / broader experience can you apply etc as well.

Last for tonight is the resume – whether your are more techie and in the guts of a problem or more management overseeing programs etc focus both on the hard core skills you bring to the table and the results – regurgitating a job description is a common error, especially in tech – while saying you saved those mofos $10M over 3 years gets attention…

Good luck and good hunting.

#57 FOUR FINGERS WATSON on 10.02.18 at 7:49 pm

Yep that continues to be this blog’s blindspot. The reason Vancouver along with Australian cities like Sydney and Melbourne saw such huge run-ups in prices despite local wages stagnating. No matter how low rates are, banks won’t lend millions to buy a Vancouver bungalow. The NDP probe into money laundering and real estate will uncover some very nasty stories, and some will be eating crow.

You people are obsessed. The cause of high prices for average homes is clear. Average people did that. – Garth
…………………………………….

Garth, with respect, you are equally obsessed in the opposite direction. The evidence of foreign and criminal influence is also clear.

Evidence is not causation. It is total myth that YVR prices in general were set by non-residents. But why argue with the wilfully blind? – Garth
…………………………………….

IHMO, the bubble was not caused only by residents or by only one factor. There was more than one factor :Low interest rates, easy lending requirements, government encouragement i.e. cmhc, 40 year ams etc., mistrust of governments ( income trust fiasco ), mistrust of markets ( dot com bust, 2008 bust ) foreign investment, money laundering, and FOMO, were all contributing factors. It was a perfect storm, a combination of factors, probably never to be repeated.

#58 AfterTheHouseSold on 10.02.18 at 7:58 pm

#100 Theakston (yesterday)
“You can finally see the sold price for all properties sold in BC in the last year.”

Wow Flop, Theakston just handed you your ‘pink’ slip courtesy of zealty. It seems like only yesterday that you wished Adam Major well in the quest for real estate transparency and here we are!

No more surrealtor chicanery!
Price drops exposed!
Sold price transparency!
Goal achieved!

800 people per hour stampeding to his site, many from here, all with direct access to the exact hoods and houses that they are interested in. Everyone with access to all the same info as you, price drops and solds at their fingertips, has, let’s face it, left your pony express in the dust and your posts, redundant.

Done in by technology, Flop, but you must be pleased that the goal was reached. Peace.

#59 Frank on 10.02.18 at 8:07 pm

DELETED

#60 For those about to flop... on 10.02.18 at 8:07 pm

Pink Pumpkins being carved in New Westminster.

Someone with a distinctive name that I recognized from the bearded blog just wrote me with a couple of tip from out New West.

Thanks goes to that person.

One I will file away as a Possible Pinkie and the other I will present now and follow it to see what becomes.

Picked up for 1.37 in May of this year as my helper pointed out they suggest they just pumped 100k+ into this thing but that don’t make no sense when you’re already on the edge of a razor.

Could be talking porkies,could be telling the truth, but the outside definitely got a facelift so the cameras couldn’t capture as many sags.

The assessment comes in at 1.16,which they’ll argue is now irrelevant.

Assessments were only allowed to be used as a point of reference on the way up the mountain,which in a lot of cases people seemingly wanted 20% on top of to allow for next years missed gains for the privilege of letting you buy their overpriced property.

Now that some homeowners have hit a slippery slope, it’s all about taxation.

Isn’t that a double standard.

Now wait a Second…

M44BC

321 Second st,New Westminster. Paid 1.37 May 2018 ass 1.16

Asking 1.39

https://www.rew.ca/properties/R2311631/321-second-street-new-westminster-bc?search_id=883270462&search_type=property_search

https://www.zolo.ca/new-westminster-real-estate/321-2nd-street

#61 crowdedelevatorfartz on 10.02.18 at 8:11 pm

Totally off subject.

Our bookkeeper received an email from our former manager today asking if she was busy and could help with a problem.
“Sure” she replied, “Glad to help”

“I have to give some clients a gift and my Visa is maxxed out. Can you buy some gift cards from Walmart and scrape the foil off the back of them to reveal the security code, take a photo and send the pics to me”? asked our former manager.

She showed me the email.

I photographed a wayward dogturd outside the building and sent it to our former “Manager” with the following news, ” Time to update your files internet scammer. “Mr Smith” died 1.5 years ago…..”

#62 MF on 10.02.18 at 8:13 pm

TheDood on 10.02.18

The USD is at risk of rapidly losing value during the next downturn.

Canada isn’t the only one who has debt issues let’s not forget…

MF

#63 Nonplused on 10.02.18 at 8:13 pm

#30 Jordan Peterson is my hERo

Conversely, the pimp might have had a deal with the concierge to direct the traffic to the correct apartment. Concierges don’t exactly make a lot of money.

Also, if it was a large condo, much of the traffic might have been internal. It makes sense to put your “store” close to the customers. There is probably a brothel in every high rise condo. And a drug dealer too. Same as there is a pub on the ground floor.

#32 kommykim

GoFundMe has turned into a scam site. Perhaps it always ways. I’ve always felt that people who have a real business case don’t immediately go public. Why would they? Why sell the business when it’s worth pennies if you know dollars are coming? Viable companies don’t go public until the original investors are cashing out.

The water bottle that fills itself with water from the air (now broke, the investors lost everything) was the signal for me. I’m an engineer, so I understand something about thermodynamics, and I knew when I first saw it that it would be impossible to extract a meaningful amount of water from the air using a calculator sized solar panel. No amount of research was going to make this idea possible. But it did pay the salaries of everyone working on it for several years before the scam died.

Or look at the $1,000,000 raised so far for Ford’s legal expenses. She doesn’t have any legal expenses, the DNC is covering it all. So where is that money going to go? Her bank account? So you can make a million by making vague accusations against someone that you can’t collaborate that you even ever met? Well you can see where that will go.

#39 Crooked Hillary ?

The NYT’s is in the business of selling newspapers, not dispensing with the truth. No tax return is ever 100% accurate and neither is any financial statement, it’s just too hard to do. The standard used by accounting firms when signing off on a company’s statements is that they are “materially correct”, in other words nothing major was excluded, but some things obviously were. That’s the same standard the tax collectors use.

In this case here, with this article, the accusations are not only against Trump but also against the IRS, although they probably didn’t consider that angle. I am sure Trump and his family did everything they could to minimize their tax burden. Everyone should. And they used professional accountants so if there was fraud there are a whole lot of people going down, not just Trump. But the other side of the accusations is that in the 90’s the IRS was completely incompetent and didn’t consider doing a proper audit until the statue of limitations had expired. Not likely. The NYT is alleging collusion not only by the Trump family, but by multiple professional accountants and the IRS itself. The NYT’s won’t exist by the end of next year due to the libel and slander lawsuits they just brought upon themselves. Idiots. If the IRS had brought these charges, reporting it would have been news. By making the charges themselves, the NYT’s has made fake news but this time brought about their certain destruction. They will be sued to death by any professional accountant who had anything to do with the Trump family. The accountants have to, because if the accusations are left to stand their careers are over. Same with anyone who worked the case at the IRS.

As Mark Twain once said, “Anyone who doesn’t read the news is uninformed. Anyone who does is misinformed.”

#64 reynolds531 on 10.02.18 at 8:20 pm

Blaming foreign investors for house prices is equivalent to blaming the CEO of Ontario hydro and his bloated salary for power rates. It is a factor sure. But it’s only a drop in the bucket. The whole thing is rotten from CEO to call center. From foreign investors to Joe down the street who bid too much.

But people love scapegoats.

#65 Stan Brooks for PM on 10.02.18 at 8:21 pm

“Fourth moral: If you’re going to have a brothel, it’s best to rent.”

The fourth moral cracked me up! What wit! The bearded mystic sage that runs this pathetic blog has a wicked sense of humour!

#66 Stan Brooks for PM on 10.02.18 at 8:24 pm

#1 Pimp on 10.02.18 at 4:44 pm

“Hey Harrison, any chance I can get my damage deposit back? Text me when you get a chance. Thanks Bro. Pimp”

What wit! Not only the great Garth but the bloggers on this pathetic blog. This is hysterical!

#67 Bezengy on 10.02.18 at 8:26 pm

I have a beautiful little house sitting empty. Really too bad as so many people just need a place to live. Unfortunately, I can’t afford to rent it, can’t take a chance, not happening. Somebody else can put up with the dog shit, used condoms, renos, grow-ops, etc. Knock yourself out.

#68 Stan Brooks for PM on 10.02.18 at 8:31 pm

#27 Stan Brooks

“Canada ranks second last (ahead of only Italy) in the G7 for research and development as a percentage of GDP. For too long we’ve been a consumer-led economy. If we don’t address that, it’s not just the stock market that will fade. It’s the broader Canadian economy.”

This is why we need you in the highest office of the land Stan! You need to tell this to all Canadians and not just the readers of this pathetic blog. Please accept our invitation to attend the Stan Brooks for PM convention and the launch of a new Libertarian party with you of course as the head!

#69 Headhunter on 10.02.18 at 8:33 pm

#56 Remembrancer on 10.02.18 at 7:35 pm
——————————————————–
NICE! Accurate assessment of skills to marketplace is critical. Good things come to those wait only the things left behind by those whom hustle.

Look for 50-100 companies within a reasonable commute from your locale. Who are in your technology space. CALL THEM. Ask for I.T. Director 2nd would be HR.

“Thx for taking my call, I need 45 seconds of your valuable time. I need some help Im ( have your pitch here what you can do and why you chose them). Although you may not have any openings can I forward my resume for consideration. ( now you are building a contact/network database with more likely connect on Linkedin)

Many thx and feel free to share my resume with anyone you think appropriate.

#70 The Real Mark on 10.02.18 at 8:39 pm

“Schamotta said the issue here is that the TSX is actually pretty reflective of our economy and the lagging performance is yet more proof that we need to diversify.”

The Canadian economy has grown nicely over the past decade. 3-4% nominal per year. Fairly high quality sustainable growth, with no significant sector in a demonstrable bubble. And at least one sector (the precious metals miners) being extremely low so far as historical valuations go (less than levels first achieved in the late 1970s!) The TSX went from 15,200 to 16k today.

So there’s a lot of catching up to do. Now that speculative enthusiasm is quickly draining from the housing sector and sales mix changes are working against headline prices, speculators will have to look elsewhere and the TSX is a plausible destination.

#71 arfmoocat on 10.02.18 at 8:41 pm

I was laid off recently due to outsourcing and yes, I work in IT.

Any tips or advice from the crowd here for finding a new job?

……………………………………………………………………….

Indeed

#72 Flat Earth Society on 10.02.18 at 8:42 pm

It pains me, as president of the Flat Earth Society ™ that there are so many Harrisons out there.

Why would a person involved in the film industry think they would make a good real-estate mogul? Does nobody consider their skill set when venturing forth into new business projects or investments? I mean, you do have to admire the entrepreneurs in society, but you probably shouldn’t start a plumbing company if you aren’t a plumber and don’t know the first thing about it.

I’ve watched a fair number of “America’s Got Talent” auditions, mostly late at night out of boredom. The ones that interest me the most are not the live shows, most of those people actually have talent and even if they won’t win can compete. Susan Boyle comes to mind (that was BGT). But the real fun is to be had watching the acts that failed badly in front of just the 3 judges. What lead these people to think they could sing? What lead them to think it was worth taking a day off work to try out? The ones that argue with Simon are the best. Even in the face of the fact that no judge is on their side they act as if AGT or BGT owes them their right to stardom, when in fact they have no talent and a dog could sing better. But they don’t know. They simply do not know.

Small time investors are much the same. They simply do not know what it is that they do not know. That is the real reason wealth concentrates. The people who end up with all the hotels are the ones who understand how Monopoly works. If you don’t understand the game, you will lose.

Stick close to your knitting. You will never make it rich in a field you don’t understand. And if it’s not your knitting, you don’t understand it. There are people who do and they’ll be happy to buy the remnants of your investment for pennies on the dollar.

Think of it this way: Do you really think some penny stock gold company has a better idea of where the remaining recoverable gold reserves are than Barrick Gold does, with their vast financial resources and a whole floor of geologists? No they don’t. And you don’t either.

Stick to your knitting. The reason companies sell condos is because they are worth less than they sell them for. Nobody sells something valuable for less than it’s worth.

#73 slick on 10.02.18 at 8:45 pm

I am a landlord by default. The house came with the business. I’ve always said that anyone with a job for 3 weeks and a heartbeat can get a mortgage to buy a house. you have to rent to someone who can’t even do that.
A landlord leaves a property worth hundreds of thousands of dollars in a strangers care, and wonders why things went sideways. Cant kick them out, cant extract more rent, no control over who else lives there,, just a risky venture all the way around.

#74 Mike Rotch on 10.02.18 at 8:52 pm

Calling BS.

Nobody leaves heroin or other drugs behind.

#75 the ryguy on 10.02.18 at 8:53 pm

#43 Shawn Allen on 10.02.18 at 6:55 pm

“You don’t HAVE to have any empathy for Harrison but to suggest $10k is no big deal is just strange”

I dont have Empathy for H, in fact Im laughing at him. If 10k is “OMG Im screwed” money to him then he has NO BUSINESS buying an effin Condo to rent out…especially one 1500 miles away.

“The guys worth $10 million and more are probably the ones that sweat hardest over a $10k loss caused by some a-hole.”

Sorry you’re wrong..the guys with $10M+ have rental insurance, and properly vet the occupants, or pay someone else to do it. They dont throw an ad on craigslist from another country and assume it will go well..it never does. H only saw the upside, but did absolutely nothing to protect himself from the downside. Honestly $10k is a cheap lesson, it could be WAAAAAYYYYY worse.

#76 Millennial905er on 10.02.18 at 8:58 pm

Surprised no one has reported this yet. Mongohouse is down, no reason given. A bit of sleuthing indicates that dirty TREB is going after them for copyright.
https://www.ippractice.ca/file-browser/?fileno=T-1653-18

Oh, and let FAITH GOLDY speak! #letfaithdebate

#77 neo on 10.02.18 at 9:18 pm

“Normalization is now occurring in country after country, led by the US Fed which has hiked nine times, going from 0% to 2.25%, on its way to plus-3%.”

Again, when is this “normalization” going to hit the treasury market. Even after all these past hikes and latest one the 10 year is still barely above 3% at 3.06%. It continues to signal this is all transitory.

#78 crowdedelevatorfartz on 10.02.18 at 9:29 pm

Just saw Trump on the news.
He looks like crap.
His face looked sallow.
Sick?
Stressed?
He doesnt look good.

#79 crowdedelevatorfartz on 10.02.18 at 9:34 pm

@#74 Mr Roach
“Nobody leaves heroin or other drugs behind.”
+++++

Speaking from personal experience I presume?

#80 Yuus bin Haad on 10.02.18 at 9:41 pm

Too bad TPTB didn’t explain what they were doing back in ’08/09 when they “saved the world” – maybe they didn’t even know themselves. Some of us were able to figure it out and profit from it. But then again, we’re the generation that came out of school with a surplus (and honoured our mentors).

Bring it on kids.

#81 Viorelli on 10.02.18 at 9:54 pm

There are lots of lost fools out there today. I rent out in Vancouver too and did not have to change tenants for many years. I don’t believe in renovictions and air B and B’s. I raise rent annually within legal amounts, inspect every 6 months and everyone is happy. When I was looking for tenants years ago was very careful to check previous landlords, employers, credit reports, and personally interviewing everyone. Any little doubt, sorry I will keep it empty until I find a SUITABLE tenant. However, I invested in the late 80’s when renting and building made sense. Today it’s not worth it, you are better off with portfolio or investing in US RE or both. Sorry to say but Vancouver is done at today’s prices.

#82 A Yank in BC on 10.02.18 at 9:54 pm

At least in this context, the word brothel is much too formal. I prefer whorehouse.

#83 Ustabe on 10.02.18 at 10:00 pm


Calling BS.

Nobody leaves heroin or other drugs behind.

Oh, but they do. And more.

Just as being a surgeon or being a clerk in a 7-11 isn’t for everyone, nor is being a landlord.

But for those who persevere, who work it, you can do quite well. It is a long game and you need to constantly upgrade and add bedrooms. Laminate flooring, solid surface countertops, entry level commercial plumbing fixtures and scratch and dent appliance sales become your friend.

Over 30+ years we were cash flow positive in year 3, profitable around year 6 or 7 and when it was time to sell out we put a significant amount into our pockets even after CRA, lawyers and accountants. Lots and lots of zeros.

And all that time it remained a side hustle. Garth is 100% correct, buying a condo and renting it out is a no go but building a stable of rentals, both homes and commercial space, slowly and according to a proper business plan can be very lucrative.

You do meet a broad spectrum of society, for sure. If you are not prepared for that you probably shouldn’t be a landlord.

#84 Slowly Boiling Frogs on 10.02.18 at 10:07 pm

#6 some guy on 10.02.18 at 5:03 pm

I was laid off recently due to outsourcing and yes, I work in IT.

Any tips or advice from the crowd here for finding a new job?
————————————————–
Lots of people watch the news and see social media and think its all just hiring and growth. They have no idea about the thousands of I.T. jobs lost every week in Ontario, especially due to outsourcing to India.

Like the 1,600 people that CGI let go of in the last year, they just found some cheaper coders overseas and got rid of you no matter how knowledgeable, skilled or talented you are.

If you are under 40 then check out courses on Python and Ruby on Rails, two of the hottest and most in demand languages/technologies out there. Older workers don’t tend to get hired by the young companies even if they have these skills due to blatant age discrimination so do some due diligence before wasting time and money on courses or boot camps.

If you are between 40 and 60 and read/write/speak English clearly and fluently then look at courses and certification as a project lead/manager. There seems to be no end to the demand for those positions.

If you are over 60 and a holdover from the age of mainframes and know COBOL then it might interest you to know that there is currently a huge demand for people with that knowledge maintaining the legacy systems that are still the back bone of many of the financial companies. Especially since the kids would never be caught dead learning that archaic language. Google COBOL COWBOYS to learn about a company in the U.S. that hires these folks.

#85 Mike on 10.02.18 at 10:18 pm

#6 some guy on 10.02.18 at 5:03 pm
I was laid off recently due to outsourcing and yes, I work in IT.

Any tips or advice from the crowd here for finding a new job?

Revenue Canada is one of the largest employers of IT people, depending on your skill set. If you have trouble finding work, I’d suggest delving into learning as much as you can about PLC’s, SCADA systems, RTU’s, etc as the guys in that field are always in demand.

#86 lifexprt on 10.02.18 at 10:19 pm

#76 Millennial905er on 10.02.18 at 8:58 pm

Surprised no one has reported this yet. Mongohouse is down, no reason given. A bit of sleuthing indicates that dirty TREB is going after them for copyright.
https://www.ippractice.ca/file-browser/?fileno=T-1653-18

Oh, and let FAITH GOLDY speak! #letfaithdebate
————————————————————-
I noticed that as well, last several days, what is going on here I thought this was all behind us

#87 Re., Stan Brooks for PM on 10.02.18 at 10:21 pm

You do realize he posts from
a Mental ward , right ?

#88 Bytor the Snow Dog on 10.02.18 at 10:23 pm

#47 penguin on 10.02.18 at 7:01 pm sez;
“Sorry, off topic. In lieu of signing a BRA, is signing a Buyer Customer Service Agreement (Form 310 in Ontario) acceptable?”
—————————-
As a buyer, you don’t have to deal with an agent. At all.

Speaking of BRAs, Anna Maria Tre-feminist had a show on CBC Radio 1 The Current today. It was about how bras are a patriarchal conspiracy to keep girls down. I say she’s wrong. Bras are to keep the girls UP.

#89 The real Kip on 10.02.18 at 10:26 pm

Fiscal 2018 ended September 30th and, as you know, the US Federal government added $1.271-trillion to the national debt.

Let them raise rates and we will see where the cracks start first and it may not be Canadian housing.

#90 Smith on 10.02.18 at 10:46 pm

————-
I agree with this method too:
“Six figure downpayments for investment properties should always be analyzed carefully. A 200k downpayment into a condo could be redirected into an s&p 500 ETF. At historical returns you will have 2.16 million in 25 years and no hassle.”

But when you get a mortgage to leverage the real estate purchase, it would be the same as borrowing to invest. Many people find it easy to get a mortgage and buy a condo but find it hard to borrow and put all of it into a S&P 500 ETF.

———————

If someone believes that an 800k condo will be worth more than 2.2 million in 25 years, and they can find a rent a renter that will cover their $2850 +condo fees +taxes +expenses + rising interest rates + vacancies for 30 years, then they should go for it. Even if I did believe that the condo would be worth 2.2 million and that I could eventually get that kind of rent the risks and inconvenience involved would deter me. If I only had to put 5% down on 100k the math is different .

Opportunity cost is prominent here. Its far easier to buy an ETF. Or even a REIT for that matter, if you like income.

#91 COB on 10.02.18 at 11:06 pm

It’s Woodwards building in Gastown for anyone interested. Red cladding gives it away.

#92 georgist on 10.02.18 at 11:16 pm

I laughed at the lazy landlord. He put the money on the table, then waited for the payments to roll in. No more work required! Free money!

#93 georgist on 10.02.18 at 11:18 pm

> I was laid off recently due to outsourcing and yes, I work in IT.

You have to state languages, depth of experience/expertise, business domain (eg finance/ embedded /retail/securtiy etc), location.

#94 NoName on 10.02.18 at 11:27 pm

#61 crowdedelevatorfartz on 10.02.18 at 8:11 pm
Totally off subject.

Our bookkeeper received an email from our former manager today asking if she was busy and could help with a problem.
“Sure” she replied, “Glad to help”

“I have to give some clients a gift and my Visa is maxxed out. Can you buy some gift cards from Walmart and scrape the foil off the back of them to reveal the security code, take a photo and send the pics to me”? asked our former manager.

She showed me the email.

I photographed a wayward dogturd outside the building and sent it to our former “Manager” with the following news, ” Time to update your files internet scammer. “Mr Smith” died 1.5 years ago…..”

gift cards and prepaid visas

i was talking to someone few months back about gifts and conversation took us to prepaid visas and gif card. So what i was told scammers are stealing prepaid viza and from one store replace cards and returned them to store, so when someone buys and charge a prepaid viza will be have some random car in possession while scammer is holding fully charged card…

easy peazy

#95 Stan Brooks on 10.02.18 at 11:28 pm

#68 Stan Brooks for PM on 10.02.18 at 8:31 pm

Not interested. Not a libertarian either, so change your nickname.

————————-

#70 The Real Mark on 10.02.18 at 8:39 pm

Tell that (your TSX view) to the investors and see if they believe you. Money will be burned in the real estate/no exit from now on and with the record debt and no interest by foreign investors how exactly would TXS grow? To keep the current nice looking profits and dividends you need to destroy the currency from now on so the future growth won’t be real.
Game over for the economy, the time to act was in 2009, not 2018.

#96 A J on 10.03.18 at 12:01 am

Lol boo hoo Harrison. Life is hard sometimes. Stop crying, sell the condo, and move on.

PS where are all the Trudeau haters lately? Guess the USMCA shut them up for now. Thank God.

#97 Long-Time Lurker on 10.03.18 at 12:04 am

Off-topic but interesting.

Newly released photograph from a comet’s surface.

https://www.dailymail.co.uk/sciencetech/article-6228603/Stunning-Rosetta-throwback-images-shows-surface-comet-close.html

#98 Stan Brooks on 10.03.18 at 12:04 am

That was interesting:

https://ca.finance.yahoo.com/news/trade-pact-clause-seen-deterring-014714564.html


WASHINGTON (Reuters) – China’s hopes of negotiating a free trade pact with Canada or Mexico were dealt a sharp setback by a provision deep in the new U.S.-Mexico-Canada trade agreement that aims to forbid such deals with “non-market” countries, trade experts said on Tuesday.

The provision specifies that if one of the current North American Free Trade Agreement partners enters a free trade deal with a “non-market” country such as China, the others can quit in six months and form their own bilateral trade pact.

Missed by our expert negotiators? Looks like hard stop on diversification at this point. (CETA not approved yet, TPP practically dead, not many options left out there.)

Sooooo… Now is the best time to invest in real estate in Vancouver and Toronto as it is going to the moon?

Yay!

#99 cd on 10.03.18 at 12:05 am

This Harrison kid might get a little pity… not a ton but a very slight amount. There are a few things I don’t understand. 1) I looked at the go fund me page… The pictures don’t seem that bad. There are no holes in the wall, all doors are still on the hinges, toilets weren’t smashed, mirrors weren’t broken, no fire damage… so its not that bad. 2) and he says ‘and loss of an extra month to deal with this’… I am not sure if he should ask the go fund me community to help with this extra month business. If it took one or two months between renters, then the landlord swallows the cost

#100 Leo Trollstoy on 10.03.18 at 12:19 am

“Thx for taking my call, I need 45 seconds of your valuable time. I need some help Im ( have your pitch here what you can do and why you chose them). Although you may not have any openings can I forward my resume for consideration. ( now you are building a contact/network database with more likely connect on Linkedin)

Many thx and feel free to share my resume with anyone you think appropriate.”

Worst cold call ever

I need I need me me me

This will result in a fast rejection

#101 Leo Trollstoy on 10.03.18 at 12:21 am

A single door doesn’t make you a landlord

It makes you an idiot

#102 Smoking Man on 10.03.18 at 1:45 am

My liberal wife called it. Woman can’t fool other woman.

If Dr Ford indeed coached Monica McLean on how to pass a polygraph,

I believed Dr Ford was telling the truth. What a sociopath liar. Chilling, serial killer level stuff. If true. End of #Metoo

Just in time before it was game over for our sons

My bleeding heart liberal wife finally sees the evilness of the left.
She would not listen to this man, took another woman to show her the light.

Thank God, praise the lord. Looking for church to join.

#103 Jimers on 10.03.18 at 1:47 am

Gut punch to the globalists;

https://www.foxnews.com/politics/christine-blasey-ford-ex-boyfriend-says-she-helped-friend-prep-for-potential-polygraph-grassley-sounds-alarm

#104 Where's The Money Greedo? on 10.03.18 at 1:54 am

Re: #67 Bezengy on 10.02.18 at 8:26 pm
If you are considering renting your house, I am very interested. Have been looking for 2 years now and all I find are hovels or postage stamp “bachelor” pads w/out separate bdrms……
If you are interested contact Garth and he can set us up.
Long term tenant.
M61BC.

#105 Where's The Money Greedo? on 10.03.18 at 2:06 am

Re: #79 crowdedelevatorfartz on 10.02.18 at 9:34 pm
@#74 Mr Roach
“Nobody leaves heroin or other drugs behind.”
+++++

Speaking from personal experience I presume?
+++++++++++++++++++++++
Just have to take a drive past Main and Hastings in Vancouver to see all the unfortunates searching the ground for the next fix, hoping to find one. How can they find one in the rain?
Much like me trying to find a decent long term rental in BC…..

#106 Newguy on 10.03.18 at 2:10 am

This guy is a full fledged member of the RE cult and he has just had his baptism of fire.

Never go all in on anything!

A landlord living month to month? Is that even a thing?

#107 Where's The Money Greedo? on 10.03.18 at 2:11 am

Re: #39 Crooked Hillary ? on 10.02.18 at 6:50 pm
Talk about calling the kettle black !

https://www.businessinsider.com/new-york-times-trump-tax-fraud-father-fred-inheritance-2018-10
++++++++++++++++++++++++++++++++++
I haven’t seen anyone sue these people for libel/slander:
https://www.commdiginews.com/politics-2/clinton-body-count-jen-moore-105226/

#108 Newguy on 10.03.18 at 2:12 am

P.S.

I think that is why so many join the RE cult. The perception of free money

#109 salted on 10.03.18 at 2:28 am

It seems to me, after being on our strata board of my 80-unit building, and having my own rental property in the building, that if a person has the means to afford a rental unit, that said person becomes an integral part of our social welfare structure of society; the helping/lending/giving part of social welfare.. not the receiving handouts part.. in BC anyways.

In a nutshell, this is what I learnt: A landlord cannot cause a tenant to become homeless because of financial hardship (non-payment of rent) or mental illness (addiction and all its baggage). Evicting a problem tenant can take up to a year after all the notices and due process.. all at the landlord’s expense. Like $10k+ easily. Just think of it as doing your part sponsoring a person from becoming homeless for a year. Except that it isn’t tax deductible.

Even if the tenant is compliant, and you just plainly don’t want them living in your rental any longer because they’re mean to their dog, you’re still pooched.. they get to stay forever unless you move in your SELF, or a CLOSE family member, or renovate WITH A BUILDING PERMIT.. (like structural; replacing the flooring doesn’t count).. That’s it. And even then you have to give 4 months notice AND A FREE MONTHS RENT. If you sell the place, the tenants go with the sale and the new owners will have to End the Tenancy if they want to live there. Who wants to buy that hassle?

Tips on How to Pick a GREAT Tenant. Beyond the usual MINIMAL DUE DILIGENCE like job check, credit check, criminal check, and social media stalk, the best tenants are socially awkward single guys. They’re less than half of the wear-and-tear of a couple because they don’t do the “friends-coming-over-for-game-night” thingy. They eat take-out, and don’t burn out stoves like the vegans do. They’re not that clean, but they’re not that dirty either; sure the tub is a bit grimy, but they don’t scratch the finish off cleaning it. They do one laundry load per week. Their thinning short hair doesn’t clog the drains. They don’t freak out when cigarette/pot smoke wafts in. They pay the rent and don’t burst into tears with the yearly rental increase notice. Basically they’re computer programmers who go to bed really late, aren’t bothered by noise, make good money, enjoy their porn and aren’t really into the whole culture of coupling.. They’re the perfect tenant. But good luck advertising for that because you’ll be attending a tasty human rights tribunal hearing shortly thereafter.

Lastly, I’ve read years and years of Garth. One sentence really stood out for me, “You can’t make money in single-unit residential real estate. IF YOU REALLY WANT REAL ESTATE, GO COMMERCIAL.” ok.

I can’t freaking believe how easy it is to do. The education part was a bit of a process, but so is any investment strategy and the actual mortgage procurement process was pretty slick and smooth. It’s based on the strength of the lease, not my personal annual salary.

So, I did. I’ve just closed on a light-industrial, cinder-block, metal roof, leased with National tenant, 30-page TRIPLE-NET lease, 6.5% cap rate, 2700 sqft double-titled unit that cost less than a residential soft loft condo. The incoming rent is twice what the condo, at the same listing price, would have brought in. Plus they also cover the property taxes, strata fees and my insurance costs. Plus they fix everything that breaks! I turn a profit from day one with no draconian rules forcing my every move. Thanks Garth. You’re a national treasure.

Signed,
A Girl who Listens.

PS. My commercial realtor was great. He’s been in the industry for 25+ years and went over and beyond, explaining things and helping me set up the business structure. Here’s a cool shout-out to him for being such a solid dude.

#110 Bdwy sktrn on 10.03.18 at 3:01 am

So what about kitimat for specuvesting in a house right about now. No condos there so sfh will have to do or maybe 600k for a 4 plex.

A tiny village about to need thousands of new beds. Rents will go uppa.

900k for best house in town on 1.8ac. The plant manager is gonna need to live somewhere.

#111 Smoking Man on 10.03.18 at 3:03 am

After todays breaking news. Yuuge Red wave in the midterms.

Who the fk made this so easy. I would like to add a link to my book. But Grath, half decent guy with standards will not allow a post with my book link..

Who is the wizard of earth, who is Slong Zumanga?

Blog dogs who wave risked their eyeballs reading late night drunken insanity.

Tell em who those villains are.

#112 Howard on 10.03.18 at 3:58 am

Between him and his parents they can’t come up with $10K cash??

#113 KLNR on 10.03.18 at 6:05 am

@#78 crowdedelevatorfartz on 10.02.18 at 9:29 pm
Just saw Trump on the news.
He looks like crap.
His face looked sallow.
Sick?
Stressed?
He doesnt look good.
____________________
I would imagine, even for a megalomaniac such as him, the stress of the position would eventually get to him.
Especially at his age.

#114 KLNR on 10.03.18 at 6:08 am

@#111 Smoking Man on 10.03.18 at 3:03 am
After todays breaking news. Yuuge Red wave in the midterms.

Who the fk made this so easy. I would like to add a link to my book. But Grath, half decent guy with standards will not allow a post with my book link..
_____________

I’m somewhat surprised Garth lets you post here at all to be honest. I remember when you were filling up the G&M comments section with this gibberish.

#115 Stan Brooks on 10.03.18 at 6:38 am

#87 Re., Stan Brooks for PM on 10.02.18 at 10:21 pm

So you don’t like me as your PM?
Sure, you can keep your current one.

Now I need to go back to my Straitjacket and medications.

Cheerios,

#116 Howard on 10.03.18 at 7:07 am

Vancouver RE report out. Sales have fallen off a cliff, though I guess we all knew that. Price of detached down 4.5% YOY. Townhome and condo prices up YOY though down since the spring.

https://www.rebgv.org/monthly-reports/september-2018

#117 crowdedelevatorfartz on 10.03.18 at 7:28 am

@#96 AJ
“where are all the Trudeau haters lately? Guess the USMCA shut them up for now. Thank God”
+++++

Apparently you were missing the comment a whole two days ago?
Or is two days a long time in infantile calculations?
Two days since “selfie” and “smug” signed away Canadas’ right to bargain trade deals with other non CAMUS countries…
Yup, thats right.
If Canada wants to enter a trade deal with some country like ….China perhaps…..
We have to show the US the WRITTEN terms of the negotiation and the US has the power of VETO over those terms……

Well done Trudeau . Well done Freeland.
Canada. The 51st state.
Thats what happens when children play in the real world.
Oh, and any talk of gender representation and equal rights……. quietly tossed in the garbage can……or did all you brainwashed Lib-diots miss that part?

#118 Mishuko on 10.03.18 at 7:31 am

Living pay cheque to cheque? Awesome! I embrace assets not debt

#119 Tater on 10.03.18 at 7:41 am

#6 some guy on 10.02.18 at 5:03 pm
I was laid off recently due to outsourcing and yes, I work in IT.

Any tips or advice from the crowd here for finding a new job?
—————————————————————–
Don’t bother applying online. If you can’t network your way to the hiring manager or a member on the team, you don’t have a good chance.

Also, each job requires a unique resume. People don’t spend a ton of time reading them and are generally bad at extrapolating how skills can transfer. You need to explicitly spell out how you can accomplish everything they need and show examples of how you’ve done it in the past.

Good luck!

#120 50 YEARS OF MAPLE LEAF INCOMPETENCE! on 10.03.18 at 7:59 am

Hey, loser Toronturds!!

Your pathetic Make Believes start another season of disappointment tonight.

Hooray :(

It’s different this time :(

52 years of losing, here we come :(

We’re Toronto, we’re special :(

And hey, the stadium is now named after Scotiabank, helping to inflate the worst RE bubble in history.

Woohoo :(

So go, RUN, get another HELOC on your crapshack’s soon-to-be plunging value and buy some overpriced tickets before those other pathetic losers grad them all!

Toronto and the GTA is such a delusional shithole in every way.

Oh, and congrats on your record-setting murder rate this year :(

#121 Stan Brooks for PM on 10.03.18 at 8:02 am

#87 Re., Stan Brooks for PM on 10.02.18 at 10:21 pm

“You do realize he posts from a Mental ward , right ?”

Argghhh!!!! Rats, thought Stan was our last hope of setting this country back on the straight and narrow! A mental ward??? Sheeesh! Back to the drawing board…

#122 Johny Bower on 10.03.18 at 8:05 am

120 50 YEARS OF MAPLE LEAF INCOMPETENCE! on 10.03.18 at 7:59 am

“Hey, loser Toronturds!! Your pathetic Make Believes start another season of disappointment tonight.”

Thanks for the best wishes sunshine! Shall we reserve you front row seats?

#123 NoName on 10.03.18 at 8:08 am

#96 A J on 10.03.18 at 12:01 am
Lol boo hoo Harrison. Life is hard sometimes. Stop crying, sell the condo, and move on.

PS where are all the Trudeau haters lately? Guess the USMCA shut them up for now. Thank God.

aj, people lakeyou make me look good. Many people are saying how this is a win for canada, but they dont get it, we didnt gain absolutely anything we actually lost everywhere. Trupm took just enough not to hurt us just to let us know who is a boss.

If he trupm wanted to crash us, economically he could do it ,wouldn’t take long year year and half in my estimations. Fortunately for us he didnt i guess when he say i like Canada have some merit.

read this, now we cant go to toilet before aksing first…

https://www.google.ca/amp/s/amp.businessinsider.com/trump-us-mexico-canada-nafta-trade-deal-china-2018-10

The USMCA could also embolden Trump to take a harder line against the Chinese. Reports indicated that the Trump trade team was spread thin renegotiating NAFTA, working on a potential agreement with the European Union, and taking on China. By closing a major front in the trade battles, said Ed Mills, a public-policy analyst at Raymond James, Trump can hammer China harder.

#124 Stan Brooks for PM on 10.03.18 at 8:09 am

#68 Stan Brooks for PM on 10.02.18 at 8:31 pm

“Not interested. Not a libertarian either, so change your nickname.”

Will do Stan! Sorry to hear you are not interested and even sorrier to hear you are in a mental ward. You had me fooled! Hope the meds help and that you will soon join society at large again.

————————

#125 jess on 10.03.18 at 8:11 am

Trump’s financial gatekeeper was granted immunity
==================
Imagine that! puts his mouth where the money isn’t
self made hogwash tax scam after tax scam and bailout after bailout.

wealth builders blue print: in that book, …funny donald never mentions tax heist manoevers

valuation fraud.
Times Report: Trump Wealth Largely Based on Tax Scams and Bailouts From Dad
https://www.motherjones.com/kevin-drum/

#126 Ritchie Rich on 10.03.18 at 8:27 am

#112 Howard on 10.03.18 at 3:58 am

“Between him and his parents they can’t come up with $10K cash??”

Is this possible? The other night I was at a party in Rosedale and heard this conversation….

Rich Guy #1 “I just bought a Louis XVI armoire for $11 million

Rich Guy #2 “Holy crap! I know people who didn’t even pay that for their house!”

#127 jess on 10.03.18 at 8:54 am

Florida counts 533 different infractions as felonies, including crimes like disturbing a lobster trap and trespassing on a construction site. “Come on Vacation, Leave on Probation” is an unofficial slogan.

In Florida, elected,
partisan officials have extraordinary authority to grant or withhold the right to vote from hundreds of thousands of people without any constraints,
guidelines, or standards. The question now is whether such a system passes constitutional muster. It does not.

https://www.cohenmilstein.com/sites/default/files/Order_Summary_Judgement_20180201.pdf

African Americans made up only 11 percent of registered voters in the state but 44 percent of those on the purge list, which turned out to be riddled with errors. After the election, the state conceded that 12,000 eligible voters had been wrongly labeled as ex-felons and barred from voting. That was 22 times George W. Bush’s 537-vote margin of victory over Al Gore in Florida.”…

https://www.motherjones.com/politics/2018/10/inside-the-unlikely-movement-that-could-restore-voting-rights-to-1-4-million-floridians/

#128 Ace Goodheart on 10.03.18 at 9:24 am

RE: “Harrison Houde.” Or Harrison Hounde?

This is a “thing” with the younger folks. Buying condos with no intention of living in them, pre-construction, as “investments”.

I knew someone who bought a lakeshore condo, while living and working in Orillia, with no intention of moving anywhere near Mimico. This person was renting in Orillia. When I asked “why not buy a condo in Orillia?” I got the usual Millenial blank stare. What ever could I be talking about?

The person then got employment in Toronto. So again I asked, why not live in your Mimico condo (which was nearing completion)?

The answer was no, the person was going to live with his parents, in Guelph of all places, and commute to Toronto.

They were busy choosing the granite counter tops and hardwood, for the condo that they had no intention of ever living in, and that they planned to rent out as an investment. They did confirm to me that they would be taking a slight loss on the rental, as the condo fees and mortgage and taxes would be more than the rent they were able to get.

This stuff is for some reason hard wired into the youngsters’ brains. I don’t understand it. I was just at a loss for words. Commute from Guelph, where you live with your folks, while someone else is enjoying your brand new condo, at your expense?

Millenials are weird. I guess they make sense to themselves.

#129 dharma bum on 10.03.18 at 9:34 am

#28 Nonplused

On the plus side if this is a harbinger of things to come it should be an epic ski season!
——————————————————————–

So looking forward to it!

Best news I’ve heard all week.

Stoked.

#130 JB on 10.03.18 at 9:51 am

Anyone who purchases a condo is in for a world of hurt. The owner to rent ratio is a major problem for communal living and it is getting worse as the stable boomers start moving out to retirement homes. The so called high end nice buildings are exhibiting this phenomenon all of the GTA as well. Some of the high end buildings have now been found to be owned by shadow companies that are simply ligit investments dumping grounds for Cartels from overseas and south America. They buy them and lease them only as a brick and mortar investment that is ligit.
So imagine when you find out your next door neighbour’s unit is owned by ultraviolent Sinaloa cartel who are in Canada legally after the Liberal government lifted the visa requirements facilitating travel to Canada by Mexicans with criminal records.”
Imagine when you have forked over $600K for your nice box with a view only to find out that you are the only owner on that floor.
Imagine when you find out 6 university students are living in the unit next to you as renters.
Imagine when you find out that your neighbours smoke pot, lots of pot.
Imagine when you find out that your neighbours smoke cigarettes, yes you can smell them from room to room.
Imagine when you find out that your neighbours grow pot, lots of pot. Wait until the mold issues start. In a condo that is a death sentence. Value of your owned property is zero.
Imagine when you find out that your neighbours run an escort service. That actually could be OK for a single person!
Imagine when you find out that your neighbours visitors to their unit are all crackheads, drug dealers, prostitutes and organized criminals. Don’t laugh it happens more than you think. How about that ride on the elevator 15 floors down with a 150kg biker and his drugged up girlfriend.
That is why I sold my condo after only 3 years. We started seeing the changes right away and decided to get our investment out.

#131 dharma bum on 10.03.18 at 10:03 am

#120 50 YEARS OF MAPLE LEAF INCOMPETENCE

Toronto and the GTA is such a delusional shithole in every way.
——————————————————————–

But…but…but…we have DIVERSITY and 680 Radio.

Heaven on earth.

#132 balanced portfolio negligible gains? on 10.03.18 at 10:25 am

Thoughts on this, Garth? Quote from https://twitter.com/MPelletierCIO/status/1047201636467105792:

“Cdn equity markets lost -0.6% in Q3 reducing its YTD gain to only 1.4%. Given bonds have fallen -0.44% this year, a Cdn Balanced portfolio would be up only 0.6% this year. Interestingly, this is a HUGE disconnect to the economic outlook by BoC and its cult of pundits.”

Then you have the wrong balanced portfolio, like too heavy on bonds and lacking preferreds with too much maple. Get a new advisor. – Garth

#133 James on 10.03.18 at 10:32 am

#102 Smoking Man on 10.03.18 at 1:45 am

My liberal wife called it. Woman can’t fool other woman.
If Dr Ford indeed coached Monica McLean on how to pass a polygraph,
I believed Dr Ford was telling the truth. What a sociopath liar. Chilling, serial killer level stuff. If true. End of #Metoo
Just in time before it was game over for our sons
My bleeding heart liberal wife finally sees the evilness of the left.
She would not listen to this man, took another woman to show her the light.
Thank God, praise the lord. Looking for church to join.
__________________________________________
Nice try old man deflecting your Sean Hannity and Alex Jone style of bait and switch. Prove it first!
We do however have proof of Trump bashing woman and misogyny in his CV as well as his acquaintances.
Your wife needs some time away from you old man! Your sully deportment is transmitting its malice to her.
BTW You would be a good candidate for the Dianetics program since your also an Alien.

https://www.telegraph.co.uk/women/politics/donald-trump-sexism-tracker-every-offensive-comment-in-one-place/

#134 It's CAMUS not USMCA on 10.03.18 at 10:53 am

That’s right folks. It’s CAMUS north of the 49th parallel. Apparently the Mexicans are calling it MECUS…

#135 Jim Lahey on 10.03.18 at 11:22 am

#130 JB

“Imagine when you find out that your neighbours visitors to their unit are all crackheads, drug dealers, prostitutes and organized criminals. Don’t laugh it happens more than you think. How about that ride on the elevator 15 floors down with a 150kg biker and his drugged up girlfriend.”

The monthly “potluck” get together must have been really, really interesting!

#136 MF on 10.03.18 at 11:23 am

31 dharma bum on 10.03

Yeah and the city is booming as a result.

You sound like a failure who is watching from the sidelines. Must be pretty crappy for you.

MF

#137 TheDood on 10.03.18 at 11:36 am

#62 MF on 10.02.18 at 8:13 pm
TheDood on 10.02.18

The USD is at risk of rapidly losing value during the next downturn.

Canada isn’t the only one who has debt issues let’s not forget…

MF

_________________________________

Until it happens, not even relevant.

I think what really matters to most at the end of the day is quality of life + $ – in that order. In my opinion, Canada has fallen off the tracks in these 2 aspects. It’s just too expensive to live here for what you get.

If our brutal “free healthcare” was a whole lot better I might reconsider my opinion, but its going from brutal to worse every day.

#138 KLNR on 10.03.18 at 11:39 am

@#131 dharma bum on 10.03.18 at 10:03 am
#120 50 YEARS OF MAPLE LEAF INCOMPETENCE

Toronto and the GTA is such a delusional shithole in every way.
——————————————————————–

But…but…but…we have DIVERSITY and 680 Radio.

Heaven on earth.

______________________

LOL, you miserable old buggers.

#139 Ian on 10.03.18 at 11:48 am

Holy US bond yields today – just COOKING!!

10 year note up to 3.12% and 30y up to 3.28%!

‘This Yield’s On Fire’ – The Band 45 rpm single remastered

#140 SimplyPut7 on 10.03.18 at 12:00 pm

Estimate of damages, stolen furnishings, loss of rent, and loss of an extra month to deal with this / fix the apartment to re-rent to a new tenant will cost upwards of $10,000 Canadian. A cost myself, nor my parents can afford.

——————–

So if you can’t afford $10,000, what happens when interest rate hikes increase your monthly mortgage payments and you struggle to find quality tenants to rent your place to when the 40,000 condos under construction in YVR are finished being built and compete with your damaged brothel condo for tenants?

#141 NoName on 10.03.18 at 12:10 pm

http://www2.philly.com/philly/entertainment/movies/billboard-boys-documentary-allentown-wsan-20181001.html

Maybe we should pick 3 millennial couple and re visit billboard house contest. That would be so much fun placing them on some billboard above Gardiner exp. hwy.

#142 Newcomer on 10.03.18 at 12:11 pm

Based on the pictures, the place is just messy with a bit of surface damage. I can’t tell what the dented thing is, but other than that, everything looks like it could be fixed up in a hard afternoon. Most of the pictures are just of garbage. Since when is garbage damage? The man doesn’t need a gofundme page, he needs a black garbage bag, some rubber gloves and a pair of cojones.

#143 Ogopogo on 10.03.18 at 12:36 pm

The lying maggots at TREB were forced to capitulate on the much-touted “rebound.”

https://www.theglobeandmail.com/business/article-toronto-housing-markets-hot-rebound-cools-in-september/

Amazing that these shills and their enablers in the media continue to bamboozle the public with impunity.

#144 Matt on 10.03.18 at 1:02 pm

Best blog yet.

In the words of today’s youth… Nail it.

#145 James on 10.03.18 at 2:34 pm

The TREB results, NAFTA, Russian collusion, Trumps infidelity, Trumps crooked tax evasion, Trumps lying about “well everything” it all comes down to Tuesday, November 6, 2018. This decides if the USA is to be elevated back to the position of the leaders of the free world or not.
All 435 seats in the United States House of Representatives and 35 of the 100 seats in the United States Senate will be contested.
Republicans coined the term drain the swamp, but when they drained it we found all of the bottom feeders exposed and entrenched within the GOP itself. Republicans win or hold on expect more swamp creatures in the swamp.
Place your bets either way it is going to be a rocky ride.

#146 Long Branch Apprentice on 10.03.18 at 2:37 pm

#133 James

Knight in white satin much there bud?

God your responses to SM are so predictable! Better check the Algos the teachers programmed up in the old melonball.

Real Estate is for passion-less sheep who listen to their equally dumb and neutered family.

Real Men look for Real Risk because that is the home of Real Reward.

At least MGK risked something when he dissed Eminem.

#147 T on 10.03.18 at 2:42 pm

136 MF on 10.03.18 at 11:23 am
31 dharma bum on 10.03

Yeah and the city is booming as a result.

You sound like a failure who is watching from the sidelines. Must be pretty crappy for you.

MF

——-

Who do you think you are? Calling people failures now. Wow. Get some help with your rage.

#148 Triplenet on 10.03.18 at 3:12 pm

#143 Ogopogo

Such choice of words!
I suppose your care-aide was late with your meds.

#149 MaxBerniersShorts on 10.03.18 at 3:16 pm

Hopefully rising interest rates will knock this clueless band of amateur property barons out of the market. Leave apartment rentals to the professionals. No wonder condos get a bad rep when your million dollar home becomes just inches away from a crack den.

#150 A J on 10.03.18 at 3:19 pm

#123 NoName

I’m not quite sure if you’re trying to bash Trudeau and the Liberals for their handling of NAFTA, but what you said does the exact opposite. You’re right, they could have crushed us. But they didn’t. Because we stood up for our country and wouldn’t back down. Trudeau and our government deserve admiration and respect for not bowing down to Trump and the US. It could have been WAY worse and they deserve our thanks for the way they handled this whole situation.

#151 A J on 10.03.18 at 3:22 pm

#120 50 YEARS OF MAPLE LEAF INCOMPETENCE!

Jesus, who crapped in your cereal this morning? You must be real fun at parties, Debbie Downer. Miserable people like you just suck the fun out of everything.

#152 A J on 10.03.18 at 3:31 pm

#117 crowdedelevatorfartz on 10.03.18 at 7:28 am

Sorry, guess I just mentally block out what you write because I can’t be bothered to read it. It’s the Lib-diot in me I guess. *Shrug*

#153 Ubul on 10.03.18 at 3:50 pm

#152 A J on 10.03.18 at 3:31 pm

#117 crowdedelevatorfartz on 10.03.18 at 7:28 am

Sorry, guess I just mentally block out what you write because I can’t be bothered to read it. It’s the Lib-diot in me I guess. *Shrug*

Good first step.

Take the next: “I can’t be bothered to write”.

#154 James on 10.03.18 at 4:00 pm

#133 James

Knight in white satin much there bud?
God your responses to SM are so predictable! Better check the Algos the teachers programmed up in the old melonball.
Real Estate is for passion-less sheep who listen to their equally dumb and neutered family.
Real Men look for Real Risk because that is the home of Real Reward.
At least MGK risked something when he dissed Eminem.
___________________________________________
Longbranch Apprentice = Smoking Man
Predictable, ha now that is blase.
Smoking Man always argues his aversion for teachers.
Smoking Man always discourses everyone else’s real estate.
Smoking Man always debates his demeanor and that he is a real man.
Smoking Man always chats his ballsy risk into the world of investment.
You sound very familiar?

#155 jess on 10.03.18 at 4:21 pm

“professional privilege” and tax office has no right to use them

Glencore seeks injunction against tax commissioner to prevent use of Paradise Papers

Mining company says documents subject to legal professional privilege and tax office has no right to use them

https://www.theguardian.com/business/2018/oct/03/glencore-seeks-injunction-against-tax-commissioner-to-prevent-use-of-paradise-papers?utm_content=buffercd354&utm_medium=social&utm_source=twitter.com&utm_campaign=Buffer+-+Twitter
========

Want to Track the Pentagon’s Funding? Here’s How You Can Follow the Money
By Michael Morisy | October 1, 2018

https://gijn.org/2018/10/01/want-to-track-the-pentagons-funding-heres-how-you-can-follow-the-money/
The ATO believes it is not only able but compelled to use information it obtains such as the Paradise Papers and Panama Papers.
Australian tax office

https://twitter.com/icijorg

#156 IHCTD9 on 10.03.18 at 4:26 pm

and they deserve our thanks for the way they handled this whole situation.
____

Take those ultra-dumb Canadian Tariffs off of steels we do not even produce in Canada.

The single most damaging fallout (by far) from these NAFTA talks is still in effect.

I’m afraid thank-yous will have to wait.

#157 Long Branch Apprentice on 10.03.18 at 5:27 pm

#154 James

You sure do like referencing Smoking Man. You got a man crush on the guy? Almost like you have a hard on for the guy.

You have Smoking Man Derangement Syndrome buddy. Also very easy to get you to respond.

Jim is short form for James, and we know Smoking Man’s real name is Jim, so have you seen Split?

#158 Justin on 10.04.18 at 1:23 am

Ah yes, Gofundme, white people’s solution to a financial crisis. This would be funny if it weren’t so tacky and cringeworthy. The condo has doubled in value since he’s purchased it – should be easy for him to HELOC for $10k. Also, I guess Harrison has never heard of insurance, or insisted on tenant’s insurance. If he’s looking for someone to blame all he needs is a mirror.