Ready?

In about a week local real estate boards will bravely issue December stats. There could bear an uncanny resemblance to stock markets of late. 2018, it seems, has turned into the no-place-to-hide year your momma warned you about. At least equities don’t come with realtors, mortgages or illiquidity. Like in Calgary.

Days-on-market there are creeping to 70. Sales are down by a fifth again this month, listings are up 13% and prices have lost another 2.5%. This is a market that peaked ten years ago – proving that bears roar the prairies, as well as Wall Street. A similar experience is unfolding in Victoria, Edmonton and now into the 905.

As for Van, John sent along this flyer his local agent in Kits mailed out the other day. Yup. Sales down 42%, and the price of a detached house has cascaded lower by 45%. Ouch.

You can mitigate unexpected loss when investing with a balanced and diversified portfolio. But when all your precious eggs are in one property, not so much. What the market does, dictates your net worth. In Kits, says the Zwick Chimes Real Estate Group, that just dropped by almost half.

Well, on to 2019. Lookin’ any better?

In terms of mortgages rates, you bet. Given the last few weeks of capricious stock markets, Trump tantrums, political upheaval, real estate wobbles and Fed-bashing it’s a safe bet central banks will be throttling back on the testosterone. Four hikes next year in the States could turn into just two. Maybe one. In Canada our guys might chicken out completely, despite strong economic numbers.

Bond yields have been crashing. The Canada five-year which was pushing 2.5% in November has flopped to 1.9% today. In the bond world that’s stunning. Of course as bond yields plunge, bond prices surge (and a reason why your balanced portfolio has bond ETFs in it). Lower yields means a drop in five-year mortgage rates is coming, just as soon as the banks stop weeping.

How about the stress test?

Yes, the heat’s already been turned up on the T2 gang. They know about 25% of the entire economy’s now related to residential real estate and (more importantly) that dewey and house-horny Mills were responsible for a Liberal majority in 2015. More than any other single factor, the ST has been responsible for dousing deals, restricting credit and the early termination of untold numbers of Audi leases. Every aspect of the housing and property industry has been lobbying Ottawa to cap it or trash it.

Here’s an interesting chart from Rob McLister’s Ratespy depicting the impact of B20 on the income needed to buy a home, city by city. Orange represents the test factor, and blue shows the impact of price increases.

Click to enlarge

So given the fact 2019 is an election year, that Trudeau desperately needs the moisters to win again, and real estate’s become massively more unaffordable under his reign, expect changes. Yes, yes, I know – the stress test is a creation of the bank cop (OSFI) and not the federal government. But it’s funny how stuff happens…

As this blog has shown you over the last few months, the stress test has killed sales, but not lowered the cost of entry-level real estate. Au contraire, by reducing credit and pushing buyers down the price pyramid, it’s created more demand for stuff the kids can afford – like condos. So prices at the bottom have increased while at the middle they’re sticky and tumbling at the top. If you want a $3 million house in Kits, this is your lucky day. If you just need a $500,000 house somewhere, try Lethbridge.

By the way, the stress test is also creating more renters while it’s responsible for fewer buyers. Increased rental demand and more expensive condos have resulted in higher rents. Plus more pissed-off Millennials. Justin gets that, too.

Finally, don’t be shocked if CHMC announces a rule change in the next 100 days allowing the return of 30-year insured mortgages or lifting the $1 million cap. Both would be dumb moves, like gutting the stress test. Houses people can actually afford to buy won’t happen if lending regs are relaxed at the same time central banks take their foot off the gas. But, alas, this is politics.

In other words, if you liked December and enjoy The Walking Dead, you’ll love next year.

137 comments ↓

#1 Resley Heetwurth on 12.27.18 at 4:23 pm

First! Go Team Canada at The Spengler Cup!

#2 Tyler on 12.27.18 at 4:24 pm

2nd. Love the Blog. Keep it up!

#3 Frank The Tank on 12.27.18 at 4:34 pm

If the stress test is capped or eliminated and mortgage years extended to 30, then uppa, Uppa, UPPA she goes.

Especially in th GTA, where apparently in 2017, Toronto hired more tech folk than SF, Seattle and Washington DC COMBINED.

Link: https://www.economist.com/business/2018/12/22/indian-technology-talent-is-flocking-to-canada?fsrc=scn/tw/te/bl/ed/indiantechnologytalentisflockingtocanadamigratingnerds

#4 E on 12.27.18 at 4:41 pm

How’s the doggie, Garth?

Full of eggnog. – Garth

#5 Mike on 12.27.18 at 4:50 pm

So Garth, in nutshell(due to political or what so ever reasons):
1) Those who dont buy mostly loose because government intervenes to make sure RE goes up
2) Stock market is more prone to Fed rates than RE. Look at how wobbly stocks became when rates went up, while RE is barely getting shaken.

Both of above prove that RE is always a good investment because stock market are even more vulnerable to same set of factors.

Those who listened to this blog – keep renting while RE goes up and up and up. No interest rates, no B20,…..etc matter.

Either politicians, or foreigners – someone will save the day for RE.

Stocks fell more from Trump than rates. You have no argument. – Garth

#6 JSS on 12.27.18 at 4:51 pm

“Of course as bond yields plunge, bong prices surge”

I love this blog. It’s the only blog that shows the correlation between bond yields and the price of a bong.
Who knew? Learn a new thing every day here.

#7 Duke on 12.27.18 at 5:09 pm

#3 Frank The Tank on 12.27.18 at 4:34 pm
If the stress test is capped or eliminated and mortgage years extended to 30, then uppa, Uppa, UPPA she goes.

Especially in th GTA, where apparently in 2017, Toronto hired more tech folk than SF, Seattle and Washington DC COMBINED.

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

Really? Do you believe that numbers? Tech salaries in Canada is simply pathetic. The number of jobs doesn’t mean the job market in Canada is good.

#8 Steve French on 12.27.18 at 5:11 pm

Sir Garth: what do you think of this move?

SteveO

“Why this Gen Y finally caved in and bought a house in Sydney”

https://www.abc.net.au/news/2018-12-28/why-this-gen-y-caved-in-and-decided-to-buy-a-house-in-sydney/10621156

#9 Dead Cat Named "Bouncer" on 12.27.18 at 5:18 pm

Eeerily similar to the mid 90’s when the desperation of the Liberals and the alienation of the west and the lobster folk eventually swept them from power. Those that don’t learn from history are doomed to repeat it.

#10 yorkville renter on 12.27.18 at 5:23 pm

Poloz has to raise… our dollar is getting killed, which means more inflation.

Man Up Polly!

#11 Editrix on 12.27.18 at 5:23 pm

The 416 craziness continues. It’ll be interesting to see what this finally sells for. Certainly not $3 mil. I could get a pile in the Kingsway with a lot of land for that.

https://www.thestar.com/news/gta/2018/12/26/for-sale-a-skinny-3-million-toronto-home-that-neighbours-and-critics-say-doesnt-fit-in.html

#12 dakkie on 12.27.18 at 5:24 pm

2019 high odds the Bear continues. Global Liquidity far too tight… Central Banks to blame…big error

https://www.investmentwatchblog.com/2019-high-odds-the-bear-continues-global-liquidity-far-too-tight-central-banks-to-blame-big-error/

#13 reynolds531 on 12.27.18 at 5:29 pm

Gotta love politics. Buy enough votes, but don’t do anything that helps the country prosper. Like lay some pipe. Or ensure a reasonable business environment.

#14 ts on 12.27.18 at 5:30 pm

Market manipulation in order to get votes – how nice and corrupt. I’ll never, ever vote Liberal if T2 caps stress test or brings back 30 year mortgages. This is total bs and should not be allowed. This simply shows how big business can manipulate the government to get what it wants. Are these so-called lobbyists running the government or do the Libs simply lack the back-bone and integrity to do the right thing?

#15 You know on 12.27.18 at 5:32 pm

What happened to the debt to income ratio everyone was so worried about???. I respectfully disagree…its to dangerous to relax the regs. The fed will move and so will boc

#16 You know on 12.27.18 at 5:33 pm

no choice …right Garth? As stated here boc follows Feddie 92% of the time…bring it on! Everywhere in the world it’s happening that rates are
moving up…its no different this time.

#17 When the Whip Comes Down on 12.27.18 at 5:35 pm

So this is to suggest then that we should expect prices to resume their ascent due to the relaxing of those measures put in place to curtail their ascent.

#18 You know on 12.27.18 at 5:43 pm

The big 6 banks may raise rates regardless of the boc decision to chicken out

#19 MF on 12.27.18 at 5:58 pm

Sounds like a strong case for RE.

How are our balanced portfolios doing, assuming you have money to invest and are not fritting your income away to some “landlord”?

Everyone knew politicians are incompetent. Everyone knew the central banks would have to scale back the rate hikes because the mess they created would unwind.

Hopefully someone out there listened to me and bought a gta condo 1.5 years ago. I wish I listened to myself lol.

MF

#20 Kingkouros69 on 12.27.18 at 5:58 pm

Is this a joke??? Manipulation like this would be a crime in the stock market. Can never get ahead when the government props this farce over and over again.

#21 not 1st on 12.27.18 at 6:07 pm

Garth, you need to drop the rose coloured glasses. The job increases are all debt fuelled. The govt will spend almost $100B to raise the GDP by 1 pt for 4 yrs. A debt that wont be paid off until 2040 or 2050 which basically means never. I assume another $100B will be needed in the second T2 term as well. Why do you choose to ignore the facts.

On the contrary, Trump raised the US GDP by 2 full percentage points just by signing a presidential order. No new debt, no stimulus, lowest unemployment rate in 50 yrs. Lowest minority unemployment rate in history.

#22 not 1st on 12.27.18 at 6:14 pm

Our govt stellar record on employment means spending $100B into pet projects, kneecapping the oil industry then bragging about take out window and mall santa jobs.

Where are all those green energy and new technology jobs.

#23 MaxBerniersShorrs on 12.27.18 at 6:15 pm

#9 DeadCat
What are you talking about? In the mid-Nineties Jean Chrétien and the Liberals were just starting their decade plus rule in Ottawa!

#24 not 1st on 12.27.18 at 6:21 pm

Provincial debt has soared in this country, homeless has increased, more food bank visits and a lot of people no longer looking for work just trying to get by on some extra crumbs in the Child Allowance now.

$100B in debt exactly matches the amount of investment that has left the country for good. If Canada is so great and on such a tear, why do you recommend holding less than 25% maple. That’s not much confidence to me.

#25 crowdedelevatorfartz on 12.27.18 at 6:24 pm

@#1 Resly Heetwurth
“First! Go Team Canada at The Spengler Cup!”
+++
A friend was at the Sweden Game in Victoria.
Canada’s gonna have its work cut out for it.
The Swedes are big, fast and can “dive” like an Italian soccer prima donna…..

#26 Shawn Allen on 12.27.18 at 6:27 pm

Sydney Australia House Price Crash?

Can both of the following two things really be true:

1: Sydney is in the midst of its worst housing downturn in modern history.

2: Sydney home prices are down an average of 10%. (Oh, the inhumanity!)

#27 Smoking Man on 12.27.18 at 6:32 pm

Do you want to shock your self.

Go to http://www.zillow.com. they now have Canadian Data.

Look at the home prices on the Canadian side. Then cross the border us side.

Huge massive difference.

Check out this jem on the lake for 274k

https://www.zillow.com/homes/for_sale/31479621_zpid/globalrelevanceex_sort/43.397315,-78.540916,42.79666,-79.525566_rect/10_zm/

You would need to be insane to buy in Toronto.

#28 Shawn Allen on 12.27.18 at 6:42 pm

Perspective

The average or typical standard of living in Canada has never been this high. It has risen dramatically in my 58 years. From what I see looking around, the standard of living just keeps getting constantly better for most people.

West Edmonton Mall jammed with shoppers before Christmas and on Boxing Day. The news show about someone buying a 75 inch (75 inch!) television for $1000. Forests of new homes near where I live. Lots of new retail and restaurants opening up. Just check out Costco’s same-store sales for Canada up 4.1% in its year ended September 2. And then 5.5% in the quarter just ended November 25.

Yet there is at least as much bitterness and claims of hardship as at any time in my life. The amount of stuff that people typically buy in a month today simply dwarfs what was the case in the 1970s. Human Nature to always complain I guess.

#29 Ace Goodheart on 12.27.18 at 6:43 pm

Equities and home prices collapsing.

“The Donald” trying to influence Federal Reserve interest rate policy.

Cold weather.

Trouble in the oil patch….

And meanwhile, in one of my favorite places on our cool little planet, this happens:

https://www.theglobeandmail.com/world/gallery-violence-erupts-after-congo-vote-cancelled-in-opposition-strongholds/

What you are looking at is pictures of people who just had their right to vote in a critical election, taken away. They protested, and are in these photos being shot at by the country’s military.

Likely a number of them will die, as they continue to try to be included in a “democratic” election, that will determine whether or not they have to live under a dictator who will brutally suppress and economically rape them.

First world problems……..

#30 Boc on 12.27.18 at 6:44 pm

I have said many times here the government will not allow homeowners to lose equity and your response was” I was a moron”

I will place my index finger on your nose and remind you of it at the earliest opportunity.

Touch my nose and Bandit will gum you senseless. – Garth

#31 Dolce Vita on 12.27.18 at 6:51 pm

RE’s in a tailspin in YVR and 416.

-45% in Kits, no surprise. It’s just the beginning. Condo prices peaked in YVR 2 months ago & negative since then. That means in 1 month they’ll peak and go negative in 416 as it has been dutifully following YVR + a 3 month time lag.

What’s Trudeau going to do? Increase tax credits for 1st time buyers? Waive the GST for 1st time buyers?

PEANUTS in $ terms vs. home prices and besides, people know that if they wait prices will drop even more than any tax credit can provide.

It’s over for RE. Even for Trudeau. People made their minds up awhile ago.

What you should be DISCUSSING is what these large RE price drops & unprecedented debt 70% underwritten by RE value is going to do to the Cdn. economy? THAT’S THE BIG QUESTION.

I say and a best case scenario, mild recession by the end of 1st Qtr 2019.

You can create a ton of jobs but the problem is, few of them can qualify for a home or even an over priced condo.

#32 David Paquette on 12.27.18 at 6:56 pm

Hey, I resent being dissed as an Albertan. Come here and I will kick your butt and Gerald’s too.

#33 NumNum on 12.27.18 at 7:09 pm

Sounds like those who waited for the prophesied real estate crash for the last 10 years have massively missed out. BOC won’t be blindly raising rates and wrecking people’s equity after all. There seems to be a certain safety in being in a majority which insures against becoming the greatest of fools.

Not so fast. Rates are not going down and incomes are not swelling while debt is at record levels. Not an inspiring combo. – Garth

#34 Frank The Tank on 12.27.18 at 7:14 pm

#7 Duke

#3 Frank The Tank on 12.27.18 at 4:34 pm
If the stress test is capped or eliminated and mortgage years extended to 30, then uppa, Uppa, UPPA she goes.

Especially in th GTA, where apparently in 2017, Toronto hired more tech folk than SF, Seattle and Washington DC COMBINED.

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

Really? Do you believe that numbers? Tech salaries in Canada is simply pathetic. The number of jobs doesn’t mean the job market in Canada is good
——————————————

Yes I do. Garth has also noted on numerous occasions that the economy is strong. Take a quote from today’s blog:

“In Canada our guys might chicken out completely, despite strong economic numbers.”

The tech industry is exploding in Toronto and will lead to increasing RE demand, on top of the already high demand. If they cap or throw out the stress test out and add 30 year ammortizarions, well that’s kerosene on the fire.

#35 JSS on 12.27.18 at 7:35 pm

If 30 year amortizations come back, I’m gonna seriously consider buying an income property.
House prices in Edmonton are dropping hard. Much much harder than Toronto and Van. Not sure about Calgary, in comparison.
Two bedroom/ two bathroom condos in southwest Edmonton with asking prices of $175K-$190K. Cheap.
Industrial, retail properties haven’t fallen as much.
Hey if no one wants to buy, then why not buy?

#36 I don't know where it came from on 12.27.18 at 7:39 pm

But one of the best sayings I have heard is if the price ain’t changing, then no one is buying. Think of the current markets, real estate, gold and other. Amazon became huge off it.

It’s in the very best interest of the government to crash re market to get people buying again to attain new highs. They get all that tax money on the way down and then on the way up again. Fat pensions.

Yes. No.

#37 For those about to flop... on 12.27.18 at 7:43 pm

CONFIRMED PINK SNOW.

This was one of the ones I was talking about the other day, where they bought way before the peak but still took a heavy loss.

6269 St Georges Cres, West Vancouver.

Paid 5.5 March 2014

Sold 5.0 October 2018

Originally asking 8.38

Assessment 6.18

So despite buying in 2014 they still took an 800k loss.

I am currently sitting on a bench in a mall waiting for Mrs Flop to finish shopping.

If it costs me 800k then I will probably be the proud new owner of gold plated boxer shorts.

Sitting down could be painful…

M44BC

https://www.bcassessment.ca/Property/Info/QTAwMDAyOTBEOQ==

https://www.zolo.ca/west-vancouver-real-estate/6269-st-georges-crescent

https://www.rew.ca/insights/49674/6269-st-georges-crescent-west-vancouver-bc

#38 For those about to flop... on 12.27.18 at 7:44 pm

CONFIRMED PINK SNOW.

As easy as it is to show big losses, I always get asked to focus on the more affordable side of things.

You can probably buy cheaper in Surrey,but these guys didn’t exactly go high-end and still took a decent hit, relatively speaking.

2873 MCKENZIE AVENUE ,Surrey

Paid 1.25 November 2017

Sold 1.21 May 2018

Assessment 1.15

So in six months they smoked the best part of 100k.

No wonder they say smoking is bad for your health…

M44BC

https://www.zolo.ca/surrey-real-estate/2873-mckenzie-avenue

https://www.bcassessment.ca/Property/Info/QTAwMDA3NzE2Qg==

#39 For those about to flop... on 12.27.18 at 7:55 pm

CONFIRMED PINK SNOW.

Could hold up hundreds,nay thousands, of examples of people that got carried away and paid a price for it, but this structure in a lot cities would be towards the bottom of the market and it still went for over 3 million, such is the nuttiness of people that get too much rain on their heads.

The details…

2432 Ottawa ave,West Vancouver.

Paid 3.78 September 2017

Sold 3.15 October 2018

So over 20% loss or 800k.

Little bit nervous reporting about this one.

You know, blogging and Ottawa don’t exactly go together.

Did you hear what happened to the last guy?

You mess with Ottawa on a blog, you get burned.

I’ll take the chance…

M44BC

https://www.rew.ca/insights/53879/2432-ottawa-avenue-west-vancouver-bc

https://www.zolo.ca/west-vancouver-real-estate/2432-ottawa-avenue

https://www.bcassessment.ca/Property/Info/QTAwMDAyOTRHMw==

#40 You know on 12.27.18 at 7:57 pm

Trumps all hot with the fed because every quarter point increase costs him 1Mil in interest payments on his loans…read about it in today’s news

#41 Godth on 12.27.18 at 8:00 pm

The Global Power Elite: A Transnational Class
https://therealnews.com/stories/the-global-power-elite-a-transnational-class

#42 Yoyo on 12.27.18 at 8:00 pm

Hi Garth, you always mention etf`s but howmuch ever you explain some people like me can never understand how to do these by themselves. And the people who does these, planners like you, work with clients who have lot of money and we end up going to banks who then divert to mutual funds. But really, with an investment amount of less than 50k , does it matter to start with banks? Or do you know anyone who can work with people like me …poor but wanna save .. thanks

#43 yvr_lurker on 12.27.18 at 8:02 pm

There is no way it has come down 45% for the average SFH in Kits. I have lived in this area for 20 years and watch the market, with my neighbour and friend down the street being a real estate agent. What used to be 3M in 2017 is now going for around 2.5M. The prices are coming down (and I am happy with this), but not 45% yet…. Perhaps a few uber-priced ones (and there are not many) near the water have had a big haircut, but by no means the average SFH

Realtor stats from GVREB, I presume. – Garth

#44 Blacksheep on 12.27.18 at 8:03 pm

TS # 14,

“Market manipulation in order to get votes – how nice and corrupt. I’ll never, ever vote Liberal if T2 caps stress test or brings back 30 year mortgages.”
——————————-
This part, is correct.
——————————-
“This is total bs and should not be allowed. This simply shows how big business can manipulate the government to get what it wants.’
——————————-
This part, is not correct.

Rational?

Why are any of the government interventions that have been put in place to slow RE price increases that you mention, now facing a pullback?

Because the RE Cartel hates them?

They always hated them, so why now?

Garth tells it like it is:

“So given the fact 2019 is an election year, that Trudeau desperately needs the moisters to win again, and real estate’s become massively more unaffordable under his reign, expect changes. Yes, yes, I know – the stress test is a creation of the bank cop (OSFI) and not the federal government. But it’s funny how stuff happens…
—————————-
Exact same shit happened spring 2009, just a few months after I had sold my primary res, thinking I was brilliant.

Not so much….

Turned out I had gotten caught up in the 4X income lie
and completely overlooked the fact, many politicos will do ANYTHING legally within their control to stay in power.

I bought back into the RE market 5 years ago this March, based on this line of thinking.

I have been repeating this ‘mantra’ here for years, that if one aligns his/her investments, with those of the politician in control of the levers, your best interests are paralleled with their best interests.

Self preservation, is a very strong human instinct…

#45 45north on 12.27.18 at 8:08 pm

So given the fact 2019 is an election year, that Trudeau desperately needs the moisters to win again, and real estate’s become massively more unaffordable under his reign, expect changes. Yes, yes, I know – the stress test is a creation of the bank cop (OSFI) and not the federal government.

A picture says a thousand words. Here’s the picture:

https://www.macleans.ca/politics/ottawa/the-truth-about-justin-trudeaus-tax-cuts/

Justin Trudeau is the face of middle class prosperity. He desperately needs it to continue.

Finally, don’t be shocked if CMHC announces a rule change in the next 100 days allowing the return of 30-year insured mortgages or lifting the $1 million cap. Both would be dumb moves, like gutting the stress test. Houses people can actually afford to buy won’t happen if lending regs are relaxed at the same time central banks take their foot off the gas. But, alas, this is politics.

The rule changes would create an opening for Andrew Scheer. The points are easy:

the rule changes are dumb

loose credit pumps up housing. It’s how we got here

#46 Crazyfox on 12.27.18 at 8:13 pm

Rates are only going up once or twice next year in the U.S.? I wouldn’t be so sure about that. I’ve flogged a dead horse on Trump and political instability, sure its risk and we don’t know the timeline on how the Trump WH unwinds or how disorderly it will be or how badly it will impact the markets (ugly & brief I believe).

Point is, there are good economic reasons why the Fed will want to raise rates. Sure, the stock market will be against it along with its false prophet stock channels (sage advice, don’t watch BNN like ever) and the sky will fall with even the threat of raising rates as anyone watching the spectacle of CNBC witnessed. Charts indicate raising rates adversely effects valuations, there is no mystery there so if that was the only lens we see then why raise rates at all?

For one, in a healthy economy raising rates boosts currency valuations increasing Purchasing Power Parity (PPP) and that means a wealth effect for the nation in question as imports become cheaper to buy.

For another, the U.S. treasury doesn’t just owe itself, nations like Canada borrow heavily in U.S. dollars. In some aspects, its a way of the treasury dept. to make money from foreign interests. The U.S. owes 21 billion to itself? Sure… but how much of that pie is out on loan….? Key question. With higher rates, will this burden create tremendous opportunities for expansion in Canada’s markets as an example? Is it worth it?

Heavily indebted Canada just might want to know the answer to that. But I wander. As the U.S. raises rates (in a time of high international U.S. economic confidence I should note), so rises the U.S. dollar and with it, a currency driven wealth effect.

Now I ask you all, should the U.S. Fed care a wit about media/corporate/Trump histrionics and hype, or should the U.S. fed care about what’s best for U.S.?

Again… I would not be so sure fed rates are only going up once or twice next year. I believe rates will continue to go up once a quarter until either we get bad numbers from somewhere in either earnings/employment or lost confidence in the U.S. dollar. Otherwise, up she goes and Trump could derail this train, sure. A 25% tariff trade war with China could through inflation cause rates to rise even faster. Trump impeachment could force rates to fall as international confidence in the U.S. wanes. But as long as there are strong economic indicators and there is a generated wealth effect through a stronger U.S. dollar as rates rise… with that in mind, what would you do if you ran the U.S. Fed?

#47 Will Pass On That One on 12.27.18 at 8:21 pm

#27 Smoking Man – This property is out in the country and not near the village. It better not snow because the driveway is too long with no way out. Why is there a flood tunnel along the front of the property? I looked across the road at the vegetation growing, and its a large meadow in disguise. No thanks, because this property has no investment value which is why its been listed for many months.

#48 Doug t on 12.27.18 at 8:23 pm

Canada = zombie dead 2019

RATM

#49 45north on 12.27.18 at 8:26 pm

First-Past-the-Post

The British Columbia government: it did us a service. In calling a referendum on its electoral system, consummately bungling the job and thus producing a ringing victory for good old first-past-the-post. This is the third time B.C. has tried to sneak “reform” past its population, and the third time it’s failed. In the latest vote, opposition actually increased: 61 per cent rejected the proposal; only 39 per cent favoured it. Fewer than 43 per cent of voters bothered to cast a ballot. It’s the latest in a losing streak that includes failed efforts in Ontario, Ottawa and Prince Edward Island. Prime Minister Justin Trudeau’s Liberals abandoned a national reform plan when it became obvious Canadians weren’t enthused, and didn’t favour Trudeau’s personal choice in any case.

With any luck, this latest failure will put to rest the notion that Canadians are mad keen on changing the way we elect governments, especially among politicians who then decry the system that got them their job and launch some convoluted effort to change it all to a system no one understands.

https://nationalpost.com/opinion/kelly-mcparland-b-c-did-all-of-canada-a-favour-with-its-vote-on-electoral-reform

I have been an active participant in many Canadian elections and am proud of my efforts. First-past-the-post isn’t perfect but it’s good.

#50 yorkville renter on 12.27.18 at 8:37 pm

#11 The 416 craziness continues. It’ll be interesting to see what this finally sells for. Certainly not $3 mil. I could get a pile in the Kingsway with a lot of land for that

+1

I saw that and thought the same… why someone would spend that money in a crappy hood is beyond me… and the house looks terrible too

#51 Long-Time Lurker on 12.27.18 at 8:54 pm

>Here, Smokey. There’s hope for you yet.

http://www.fox7austin.com/news/local-news/nations-oldest-living-veteran-richard-overton-dies-in-austin-at-age-112

Nation’s oldest living veteran Richard Overton dies in Austin at age 112

By: Casey Claiborne, FOX 7 Austin

POSTED: DEC 27 2018 06:22PM CST
UPDATED: DEC 27 2018 07:18PM CST
AUSTIN, Texas (FOX 7 Austin) – The nation’s oldest living veteran, Richard Overton, has died in a rehab facility in Austin, Texas. He was 112 years old.

…Overton was born near Bastrop in 1906 and served in the army for three years during World War II. He spent the majority of his life in Austin and was often seen on the porch of his home, which he built in East Austin in 1945. 

He gave credit to God for his longevity, but he always said cigars and whiskey helped.

“I been smoking cigars from when I was 18 years old, I’m still a smoking ‘em. 12 a day,” he said….

#52 SW on 12.27.18 at 9:04 pm

#51 Long-Time Lurker on 12.27.18 at 8:54 pm
“I been smoking cigars from when I was 18 years old, I’m still a smoking ‘em. 12 a day,” he said….

Something like 400,000 cigars? That reminds me of the old adage, “I spent most of my money on boats, broads and booze. The rest I wasted.”

#53 Fish on 12.27.18 at 9:07 pm

PCs halt price hike for Ontario highway tourism signs   Tourist attractions had complained about 2019 fees more than doubling CBC News · Posted: Dec 27, 2018 12:00 PM ET | Last Updated: 8 hours ago

https://www.cbc.ca/news/canada/ottawa/blue-tourism-sign-ontario-price-freeze-2019-1.4959661

***************** also **************
Canada Post stamp prices to increase on Jan. 14 Stamp for letters sent within Canada will jump in price from a loonie to $1.05 The Canadian Press ·

 Posted: Dec 24, 2018 6:12 PM ET | Last Updated: December 24

https://www.cbc.ca/news/business/canada-post-stam-price-increase-1.4958820

#54 Shawn Allen on 12.27.18 at 9:10 pm

JSS mulls Investment in Rental Property

JSS at 35…

Warren Buffett in his 2012 letter starting at page 17 gave some thoughts on how to think about investing in an income property. He used two personal examples from his life.

http://www.berkshirehathaway.com/letters/2013ltr.pdf

#55 Nonplused on 12.27.18 at 9:16 pm

Just goes to show you can’t create real wealth by inflating asset prices. Until you sell, the money isn’t really there. It’s all notional “mark to market” bullcrap.

I’ve seen a number of cases due to the type of work I was in where what looked like big money disappeared as soon a price discovery occurred. This can be especially likely to be the case when somebody with some money “leans” on the market like Amaranth did. Suddenly natural gas storage spreads were at levels they had never been before, and a lot of people got on the trend making it worse and making the players look even smarter. But then, literally in one day, it ended. Billions in profits became billions in losses. And of course there was Bre-X, Nortel, RIM, and all the others. We never learn.

The same thing has happened to housing, only it was the Fed leaning on it.

The only way to get rich quick is slowly and with hard work. Losing everything on the other hand can be accomplished in short order.

#56 David on 12.27.18 at 9:19 pm

Cmhc cannot just insure 30 yr loans. The rules are in regulation, so government would have to change the regulations.

#57 young & foolish on 12.27.18 at 9:19 pm

Grandad points the finger at debt …. equities, bonds, emerging markets, RE …. all affected (and let’s not forget algos, just to confuse investors even further).

Is there a “new normal” after the 2009 flood of money? Who knows? However, one thing seems clear, you can’t run away from main street forever. Expect either helicopter money, or valuations to come back down. The little people are out of money.

Keep that bear suit close by ….

#58 Renter's Revenge! on 12.27.18 at 9:46 pm

#28 Shawn Allen on 12.27.18 at 6:42 pm
Perspective

The average or typical standard of living in Canada has never been this high…Yet there is at least as much bitterness and claims of hardship as at any time in my life.

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

I willing to bet that most of the complaining is done by people of below average economic means. It doesn’t matter how good things get, the need to feel superior to their fellow human beings is innate in every person. And simply being below average (lower class) has been shown through sociological studies to cause significant physical and mental health problems.

There’s not much we can do about the complaining, because no matter how much the economy grows, half the population will remain below average. But at least as people demand more and more (in order to keep up with the Jones’), we can count on the economy, and thus stocks, to continue to grow. So there is that.

#59 The Real Mark on 12.27.18 at 9:47 pm

The price declines probably have been exaggerated. Just as the shifting sales mix exaggerated the upside (individual identical properties mostly haven’t moved since 2013 in either the GTA or GVR), the normalizing sales mix is exaggerating the downside.

Of course, Realtors, who live and die on transactions, and not necessarily on house prices (although many Realtors are heavily into property investment themselves) tend to have a vested interest in promoting exaggeration. Exaggeration on the highs, but also exaggeration on the declines.

Ross Kay gave a really good interview (as usual) recently on Howestreet concerning some of the statistical manipulations used in the MLS “stats”. FSBO’s, multiple countings of the same listing, and even reporting of related entity transactions as though they are arms-length are all apparently par for the MLS database and datasets thus derived. Teranet data, as anyone who has bothered to study it knows, often lags reality by literally years.

As far as the stock market goes, I doubt we’ve seen the end of the fireworks. As volatility increase, so too do margin requirements. A Dow or S&P500 that can move 1000 points in a day definitely requires significantly more than a paltry 5% inter-day margin. The sheer violence of it all pretty much guarantees that there will be a systemic pullback in lending, which easily will knock many more percent off of the Dow. The TSX appears less vulnerable, and has only fallen at a mere fraction of the rate of the US indices, but probably still can drop significantly further in concert.

#60 MF on 12.27.18 at 10:00 pm

#58 Renter’s Revenge! on 12.27.18 at 9:46 pm

“I willing to bet that most of the complaining is done by people of below average economic means. It doesn’t matter how good things get, the need to feel superior to their fellow human beings is innate in every person. And simply being below average (lower class) has been shown through sociological studies to cause significant physical and mental health problems.”

-A very insightful comment. Complaining cannot be stopped, no. Life is inherently unfair with winners and losers.

The problem with this is when people blame others for their failures. Wars, conflict, and genocide start this way.

In the modern era, in Canada or the US, there is no reason to unsuccessful if you work hard.

MF

#61 Smoking Man on 12.27.18 at 10:01 pm

We are not alone.

http://www.exopolitics.org/first-man-on-moon-dies-along-with-secrets-of-what-he-saw/

#62 Mirza on 12.27.18 at 10:08 pm

When yield goes down it bring everything down and crush the currency and bonds going up mean uncertainty and be ready for recession . How real estate will servive in this condition.????

#63 not 1st on 12.27.18 at 10:10 pm

#28 Shawn Allen on 12.27.18 at 6:42 pm
Perspective
The average or typical standard of living in Canada has never been this high…Yet there is at least as much bitterness and claims of hardship as at any time in my life.

—–

Dude, we are all living high on the hog because of debt on the backs of the next generation. $2T personal debt, another $1T Federal and another $1T provincial. Throw in credit cards some student debt and auto loans and we are in up to our eyeballs.

Ask your grandparents how much debt they had.

#64 Crazyfox on 12.27.18 at 10:10 pm

#131 n1tro on 12.19.18 at 2:53 pm

Boy, did you miss it. Where to begin…

In pretty much every room I walk in, I’m not the smartest one. I’ve learned to integrate over time what the smartest guy(s) in the room has to say, there’s no mystery to it. Its called observation. I crib and compile the hard brainwork of others and I’m far from alone in doing this except with the focus of genre and context from people like yourself, so focused on money and making money and damn anything that gets in your way from profit blinding you from seeing the greater truths one of which is there are karmic consequences or reactions to all that we do including not adapting to change.

Green tech isn’t going to be disruptive because of some carbon tax, has anyone ever heard me say it was necessary, no, not even to save the environment, green tech will be disruptive because its cheaper to generate power than hydrocarbons. Why? Wind and sun is free and the tech efficiencies are high enough now to make it cheaper. Considering Moore’s law, it will only improve from here.

There isn’t a capital cost project in the world today that beats solar or wind and storage with big power generation in lower latitudes. Building solar and storage is cheaper now than coal generation next to a coal seam, cheaper than power generated next to a gas well in Saudi Arabia. Capital cost of roof top solar by kwh is cheaper than the capital cost of big power transmission. The only reason why we haven’t seen a big shift in generation is because of the existing facilities already there and mostly paid for. Any new power projects coming on line unsubsidized will be green not because its green but because it makes and saves $$$.

The same will hold true with EV’s in the 2020’s as 4 disruptive technologies converge (EV’s, AV’s, cloud tech and Solid state batteries). An EV is projected to last 1 million K running on electricity costing a tenth of the price of gas with the freedom of self driving understated. What does a drunk/drowsy driven gasser do, 250, 300K before its a smashed up Bic lighter? The question of individual ownership of cars vs fleet is one of price and I believe price will be affordable and thus, individual ownership ratios will be much higher, especially by the mid 20’s but that’s just me.

But here, don’t just take it from me man. Check out the nerd (I mean as a compliment) from Stanford, I think, one of the smartest guys in any room. What will it take to educate yourself, watch the lecture!

https://www.youtube.com/watch?v=TRcx-btcle4&t=6266s

#65 Lorne on 12.27.18 at 10:18 pm

#49 45north on 12.27.18 at 8:26 pm
First-Past-the-Post

The British Columbia government: it did us a service. In calling a referendum on its electoral system, consummately bungling the job and thus producing a ringing victory for good old first-past-the-post. This is the third time B.C. has tried to sneak “reform” past its population, and the third time it’s failed. In the latest vote, opposition actually increased: 61 per cent rejected the proposal; only 39 per cent favoured it. Fewer than 43 per cent of voters bothered to cast a ballot. It’s the latest in a losing streak that includes failed efforts in Ontario, Ottawa and Prince Edward Island. Prime Minister Justin Trudeau’s Liberals abandoned a national reform plan when it became obvious Canadians weren’t enthused, and didn’t favour Trudeau’s personal choice in any case.

With any luck, this latest failure will put to rest the notion that Canadians are mad keen on changing the way we elect governments, especially among politicians who then decry the system that got them their job and launch some convoluted effort to change it all to a system no one understands.

https://nationalpost.com/opinion/kelly-mcparland-b-c-did-all-of-canada-a-favour-with-its-vote-on-electoral-reform
……
I have been an active participant in many Canadian elections and am proud of my efforts. First-past-the-post isn’t perfect but it’s good.
………
Interesting that there are no countries in the world who utilize Proportional Representation (by far the majority of the countries in the world) who are considering changing to a FPTP system. Wonder why?

#66 Fish on 12.27.18 at 10:44 pm

Sucker Rally

What is a Sucker Rally
Sucker Rally describes an inaccurate indication that a price is heading upward despite a longer downward trend, often during a bear market.

https://www.investopedia.com/terms/s/sucker-rally.asp

now for Realestate don’t care for what anyone says don’t even try because that is TRULY LOCATION
so that is that Exactly there is a difference

#67 What I think I know vs what is RE on 12.27.18 at 11:14 pm

WOW! Back to 30 year mortgages and lowered rates!!!!

Of course the powers that be will do everything in their powers to keep the housing bubble inflated! GTA housing will remain very expensive well into the future. It will NEVER crash. At least not until we have a financial collapse. There are a whole host of reasons as to why that is so. Waiting for a correction before buying GTA RE is just plain stupid.

#68 James on 12.27.18 at 11:15 pm

Who the hell wants a 30 year mortgage anyways. You would think most rational people would want the debt burden off their back in 15-20 years or less. I think 30year mortgages only help mortgage brokers and real estate pumpers.

#69 TRUMP on 12.28.18 at 12:00 am

DOES REAL ESTATE PAY a DIVIDEND like every company in my stock portfolio?….

Or ARE the real estate lovers getting poorer paying mortgages to banks which are in turn paying dividends to my stock portfolio making me richer..???

Any REAL ESTATE REITS you suggest??

Thanks Garth
Your richest fan,

TRUMP

#70 Ponzius Pilatus on 12.28.18 at 12:13 am

Garth,
Average life expectancy for a 65 year old is 85.
Skewed towards the pretty ladies, of course.
Are you offering refund to those who don’t make it to 95?

#71 Smoking Man on 12.28.18 at 1:32 am

The fear of judgement. The most crippling human emotion ever created.

When I get bitch slapped on here. It’s a badge of honour. You can’t bend what you can’t offend is my motto.

You see world of brain washed idiots and all you want to do is slap then in the face and scream WAKE UP.

The machine is clever, they get your kids younger and younger on its demented quest for no opposing thoughts and total control.

T2 is one of them changing election laws to rig the next election. Drop the mike an flip the bird to your low IQ people that judge you

Go from the heart.

Only the yellow jackets from albeta will save Canada. Toronto and BC are zombiefide.

Go Alberta Truckers, oil dudes and men with nuts. . Save Canada from these UN backed vampires.

#72 Stan Brooks on 12.28.18 at 2:04 am

It seems we are the only one who refuse to operate the cancer as it grows bigger and bigger, ultimately leaving no healthy cells in this corpse.

Australia already pricked its bubble.
Now we reintroduce ultra subprime mortgages that no bank will issue unless ‘insured’ by CMHC.

Congratulations to the rich house owners whose tax bases/assessments will keep increasing aggressively. You rich, learn to pay for the privilege to live here, folks.

Congratulations to the renters as well whose rents skyrocketed lately. Patience normally pays but there are always exceptions, so you were the lucky one chosen to pay for the privilege to work in these top livable cities. Pay up folks.

And both owners and sellers remember: those insured mortgages are backed by you as a tax payer. Over 1 trillion in insured mortgages between CMHC and private mortgage insurers.

25 % of this economy is real estate and construction, another 20-25 financials driven by it, and another 20-25 % derived services…

Did I say it won’t end well for your CPP?
Cost of living increasing north of 8-10 % in the next 15 years while CPP indexed at 1-1.5 %?

It won’t end well for your RRSP either, but hey, keep investing and growing that nesting egg, I am sure somebody else will enjoy eating the omelette.

The game is of course rigged and all these announcements seemingly coming out of nowhere are carefully orchestrated events and policies as to squeeze every last drop of blood from the sheeple. (Culling time.)

We will see how long will the sheeple last with such conditions, specially in the big cities where it is already absolutely marginalized and squeezed to death.

#73 Stan Brooks on 12.28.18 at 2:16 am

#58 Renter’s Revenge! on 12.27.18 at 9:46 pm
#28 Shawn Allen on 12.27.18 at 6:42 pm

People most pissed off by the situation in Canada are from the upper middle class – doctors, lawyers, IT contractors.
Note: These own houses.

Then come the poor which constitute in my estimate at least 70 % of the population despite you statement about perceived high standard of living.

It is bogus and false. Fake.

What does high standard of living mean when you can’t afford kids while just 2 generations ago a person with no college degree could afford a house and support 3 kids through college and university?

How many of you can honestly say that can take 2 years off work without ruining their finances?
Zero. Exactly zero.

But hey, keep enjoying that standard, I will be very happy for you, your unborn kids (or those born but who will spend a fortune in university only to never find a good paying job after that) and for your never coming retirement.

Keep up the good brain-freeze work there, folks.

#74 SimplyPut7 on 12.28.18 at 6:02 am

The millennials are split into the haves (bought real estate early, have perm jobs and work experience) and the have-nots (no real estate, tough to find perm jobs with no work experience, large student debt).

Both are sick of Trudeau (his weird trip to India and promising 50 million taxpayer dollars via twitter were the last straws for them), the haves will vote for Conservatives in hopes the TFSA goes back to $10,000 to achieve FIRE.

The have-nots will vote for NDP and try to get the same tax penalties placed on housing like BC is doing, to make housing more affordable.

Liberals will be gutted as the NDP will be the opposition party and the Conservatives will win a majority or minority government.

As for real estate, many people bought speculative property they would have never looked at if they thought the housing market was going to shift. Even if mortgage rates were lower, they would not be low enough for the speculator to afford the mortgage and high maintenance fees on the concrete box that was supposed to be sold by now on assignment or sold at completion to the foreign investor.

#75 Headhunter on 12.28.18 at 7:04 am

Hope everyone had a good Xmas!

Davids one of the USA largest Wedding stores- Bankrupt
Zales diamonds store “its ok to ask him commercial” encouraging women to propose. Young men are NOT getting married. Birth rate in North America way low and rapidly declining.

Failure to launch. Basically young men are not going to school and working job’s/careers like in the past. They are working enough to “get by” mainly.

Most men are “minimalists” and can get by with less. Who needs a family house in the ‘burbs when you don’t have a family? Just a few factoids of what is really coming down the pipe.

50% hair cut on housing at a minimum. Do the math.

#76 Remembrancer on 12.28.18 at 8:15 am

#64 Crazyfox on 12.27.18 at 10:10 pm
Wind and sun is free and the tech efficiencies are high enough now to make it cheaper. Considering Moore’s law, it will only improve from here.
———————————————————–
Moore’s law is about processor compute capacity, you are going hyperbolic – wind and sun are free, capturing them is not. Your allusion would make more sense if you were talking a more efficient solar collection components or better blade design occurring every generation of product… Are they?

#77 crowdedelevatorfartz on 12.28.18 at 8:32 am

@#33 NumbNumb
“BOC won’t be blindly raising rates and wrecking people’s equity after all…”
++++

The only one wreck people’s future is a Prime Minister with unlimited access to spend money he doesnt have.

Lower interest rates now + massive budget deficits = Higher taxes forever to pay for it.

Never trust a politician to do the right thing for the long term future of Canada in an election year

#78 dharma bum on 12.28.18 at 8:36 am

It’s December 28th.
Only 292 more days until I start collecting my juicy CPP!
Ohhhhhhhhhhh yaaaahhhhhhhhhhhhhhhhhhhhhhhhhhh!
Let the good times roll.
I’m taking Garth’s advice:
“Go on, take the money and run!”
More updates to follow, dogs.

#79 crowdedelevatorfartz on 12.28.18 at 8:43 am

@#49 45 North
“With any luck, this latest failure will put to rest the notion that Canadians are mad keen on changing the way we elect governments, especially among politicians who then decry the system that got them their job and launch some convoluted effort to change it all to a system no one understands.”

++++

Yep.

How these IDIOTS thought that by spinning a “new” way to vote for the gullible rubes out there in Knuckledragger-ville is beyond ridiculous.

” Ok. So, this is how it will work. The politician that receives the majority of votes will then have his votes compared to the person who everyone voted for as their SECOND choice and if the second choice has a higher number of votes…THEY win……”

Riiiiiiiight

Only politicians could figure out a way to “win” even when they come in second.

Well. Joe Sixpack didnt bite and tossed the entire steaming pile of Pro Rep bullshit back where it belonged.

Want to improve politics?
Lets just ban Lobbying and the money that it corrupts the political process with.

#80 crowdedelevatorfartz on 12.28.18 at 8:47 am

@#53 Fish
“Canada Post stamp prices to increase on Jan. 14 Stamp for letters sent within Canada will jump in price from a loonie to $1.05 The Canadian Press ·
+++++

Gee THAT price increase didnt take long to implement after the strike.
Gotta pay for all those underfunded CUPW pensions I suppose

#81 dharma bum on 12.28.18 at 8:52 am

This government is going to be torn apart by its own hypocrisy.
The pathetic “leaders” of this country cannot escape the paradoxical dichotomy of their own creation.
On the one hand, they promise a solution to the home ownership affordability crisis for those who so desperately want to purchase a home for their families.
On the other hand, they feel compelled to keep house prices artificially inflated by market manipulation in order to protect the equity and consequent wealth effect of those that are already invested in (and indebted by) real estate.
The ultimate suck and blow act.
I really do hope they implode.

https://www.youtube.com/watch?v=8U4erFzhC-U

#82 crowdedelevatorfartz on 12.28.18 at 8:55 am

@#58 Renters Revenge
“I willing to bet that most of the complaining is done by people of below average economic means. ”
+++++

Nope.
I work with a guy who will Net over 90k this year. His wife will haul in about 60k this year.
Savings ? Zero.
Debts? 70K at a minimum. Cards, Loans, Line of Credit. All for things they dont really need.
They rent, they spend more than they earn on crap. They both smoke, drink, party.
Both in their late 50’s.
Not a pot to piss in or a window to throw it out of.
The latest purchase? An $800 puppy for their 10 year old kid who gets everything she whines for.

This guy constantly bitches about his job, his salary, the banks, the creditors chasing him, on and on and on….its everyone else’s fault……..as his wife spends $200 on a monthly haircut………

You cant teach Stupid people new tricks.

#83 crowdedelevatorfartz on 12.28.18 at 9:33 am

@#69 TRUMP
“Thanks Garth
Your richest fan,

TRUMP”

+++++

ahahahahaha even the Trump impersonators come across as conceited, arrogant twits…..

#84 Smoking Man on 12.28.18 at 9:47 am

I feel like I lost a brother. Feeling very sad this morning.

RIP Chris.

https://www.google.com/amp/s/www.cbsnews.com/amp/news/chris-burrous-ktla-anchor-dies-after-being-found-unconscious-days-inn-room-glendale/

#85 not 1st on 12.28.18 at 10:05 am

Garths financial analysis would improve if he understood what Canada was. I can help.

Canada is a loosely knit country of 4 distinct geographical and cultural regions that will never see eye to eye. Our federal overlords see to that. Canada is poorly capitalized, has out date infrastructure, low rates of entrepreneurship and a rapidly aging population.

Canada itself would not even exist if it were not for the US. Each province trades with the US more than all other provinces. We are a US vassal state and we should be happy for that. Our best minds move to the US and make their fortune their. Socialists are left here.

Any country sitting on the resources we have would have rocked them to the tune of trillions. We have a deficit and an intergenerational debt and a bunch of empowered NIMBYs at the helm.

Canada is on its way to becoming an indebted European style socialist state desperately trying to save itself with immigration while enacting even more expensive social programs. Pharmacare and basic income are next. How will we pay for these programs.

Even immigration wont save us. The average age of immigrants coming into Canada is 10-15 yrs older than those entering the US. And as soon as they get here and see our cost of living, they stop having kids too.

The province with the youngest and most skilled people is Alberta and T2 and Butts are doing everything they can to kneecap that place.

These are the macro currents set in motion that will affect Canada, not some central bank or gyrations on the TSX.

Best investment you can make is to get your kids a dual citizenship.

#86 Duke on 12.28.18 at 10:09 am

#37 For those about to flop… on 12.27.18 at 7:43 pm

Happy New Year to you, Mr. and Mrs. Flop. Thank you for all the good postings.

#87 Abalone on 12.28.18 at 10:11 am

#71 SM
Hopefully, this will be the last time you use the term b slapped on this blog. Violence towards women is not cool. Not cool at all. Using the term towards yourself makes no difference. I’ve scrolled past your comments for years, but have still noticed you use it several times.

You then, in the same post, say you want to slap people in the face and scream at them. Take a look at Garth’s helpful reminder bullet point #3 before you post next time. Respect people. Just try to be kind.

#88 crowdedelevatorfartz on 12.28.18 at 10:12 am

@#74 SimplyPut
“The have-nots will vote for NDP….”
******

Jagmeet Who?

I love that name
‘Cause it begs the question.

How many potential voters in “his” riding ( thank you Kennedy Stewart !) actually…….. meet with Jag?

#89 Godth on 12.28.18 at 10:14 am

#64 Crazyfox
let us know when you’ve bought a new electric tractor and combine harvester for the farm. how about those huge cargo ships that deliver everything you use that’s produced in china to your big box store with just in time delivery, giant diesel engines replaced with electric when? airplanes? have you come up with a new way to smelt iron or do we still need a billion tons of coal every year? mining with electric powered machines? how are those solar cells, batteries, and wind mills produced?
a band-aid on a cancer patient is what you’re proposing. good luck with that. http://vaclavsmil.com/category/books/

#90 Duke on 12.28.18 at 10:17 am

#35 JSS on 12.27.18 at 7:35 pm
If 30 year amortizations come back, I’m gonna seriously consider buying an income property.
House prices in Edmonton are dropping hard. Much much harder than Toronto and Van. Not sure about Calgary, in comparison.
Two bedroom/ two bathroom condos in southwest Edmonton with asking prices of $175K-$190K. Cheap.
Industrial, retail properties haven’t fallen as much.
Hey if no one wants to buy, then why not buy?

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

The real question is, how much cash can you generate from a condo of $195k? $1200 a month, which is $14,400 a year minus property tax, strata fee, and some minor repairs. You can only net about $8k a year even if you buy it with no mortgage. That is only 4% yearly return and is very bad investment overall.

#91 mogulrider on 12.28.18 at 10:23 am

I St. John NB for Christmas to visit family and buy a newer used SUV ( I have never bought new in 39 years).

Bought a really nice Santa fe with almost zero miles for 1/2 price of retail from 2 years ago.

What was interesting was this. I was in the delaership twice over the season to do the deal.

I was there 2-3 hours each time. I was the only customer…..

One of the most powerful indicators of an economy is the dealerships.

I’ll never forget Edmonton after Trudope 1 brought in the NEP. Six months later all the dealers were gone or on life support.

Had to got to Calgary to buy a car that year.

The dealers are a street level indicator of economic health.

3 years ago you waited in line for a sales guy.
I was swamped by sales guys this time….

All the economists in the world, IMHO, cannot outweigh the power of this street level indicator.

It is clearly saying – KAPOW!

#92 Ace Goodheart on 12.28.18 at 10:31 am

An interesting story about how “investment condo” purchases can go south and end up costing people a lot of money (read all the way to the end, it’s worth it).

https://jlcollinsnh.com/2012/03/15/how-i-lost-money-in-real-estate-before-it-was-fashionable-part-i/

#93 NoName on 12.28.18 at 10:38 am

#76 Remembrancer on 12.28.18 at 8:15 am
#64 Crazyfox on 12.27.18 at 10:10 pm
Wind and sun is free and the tech efficiencies are high enough now to make it cheaper. Considering Moore’s law, it will only improve from here.
———————————————————–
Moore’s law is about processor compute capacity, you are going hyperbolic – wind and sun are free, capturing them is not. Your allusion would make more sense if you were talking a more efficient solar collection components or better blade design occurring every generation of product… Are they?

I think anyone who thinks of him self as being smart er that sack of hammers should watch this from beginning to end, and take some notes whaile watching/listening and i can guarantee that something would be learned at the end of the video…

I implore all protagonists of green energy, purveyor of climat change, and proclaimers of impending heat wave that will fry us all, to watch this video and educate them self and start think for them self and resist not thinking.

Here is video, similar to one from other day.
https://youtu.be/sCyidsxIDtQ

#94 Godth on 12.28.18 at 10:42 am

#64 Crazyfox
Vaclav Smil: Making the Modern World (2 mins. long)
https://www.youtube.com/watch?v=xi7O9pmM_A0
how is concrete made?

“Some of this may shock old guard greens &emdash; which is the point &emdash; but it is hardly a new message. It is simply the latest variant on the old Wellsian techno-optimism which has been promising us paradise for over a century. The neo-environmentalists are growing in numbers at present not because their ideas are new, but because they offer a business-friendly worldview which, unlike the tiresome old green message, is designed to make people feel comfortable about their plane flights and their i-pads. Science and business will provide. Nature will adapt. Optimism is permitted again. Indeed, it is almost mandatory.”
http://paulkingsnorth.net/2012/08/01/here-come-the-neo-greens/

Science study predicts collapse of all seafood fisheries by 2050 https://news.stanford.edu/news/2006/november8/ocean-110806.html
since that study was done (2006) much more has been learned about the oceans role as a heat sink, co2 acidification and plastics in the oceans. not good news.

#95 NotLegalAdvice on 12.28.18 at 11:02 am

MF:

“Sounds like a strong case for RE.

How are our balanced portfolios doing, assuming you have money to invest and are not fritting your income away to some “landlord”?

Everyone knew politicians are incompetent. Everyone knew the central banks would have to scale back the rate hikes because the mess they created would unwind.

Hopefully someone out there listened to me and bought a gta condo 1.5 years ago. I wish I listened to myself lol.

MF”

_____________________________

My MIL had said the same thing to me last year. Said to pick up a condo, but I thought the prices were going to fall….. what a mistake that was.

#96 Mattl on 12.28.18 at 11:08 am

10 year lows in Calgary? Sounds like a great time to buy. This looks like a perfect example of RE bear activity, everyone complains when prices are rising, sits on the sidelines when prices are low. When RE takes off in these markets again – and it will – the doomers will be whining about unaffordability and all the meanies over bidding up homes.

Calgary is a pretty decent place to live. Great fishing in the Bow, skiing close by, hiking Banff in the Summer and the winters have mild spells. And cheap RE. Job market isn’t great but oil will be back at some point.

#97 Frank The Tank on 12.28.18 at 11:13 am

It’s not just the moisters wanting a scrapped stress test or 30 year mortgages, it’s boomers too. Why? 95% of boomers I know do not want a dime of equity taken from their home, but they also are sad and frustrated that their kids have to move further and further away.

Solution? Scrapping the stress test and 30 year mortgages. Keeps the RE party going and allows Sally and Steve Moister to stay closer to their parents.

JT could win over more than just millenials.

#98 The boulder on 12.28.18 at 11:18 am

Hmmm, you were strong advocate that govt. doesn’t control/impact stress test, now you stating otherwise by just adding the disclaimer that stuff happens in funny ways.

Yes, we don’t pay you for financial advice, but we (at least I) expect more reliability from you.

I’m reliable. The government may not be. But would you like me to lie to you? – Garth

#99 Mattl on 12.28.18 at 11:40 am

#69 TRUMP on 12.28.18 at 12:00 am
DOES REAL ESTATE PAY a DIVIDEND like every company in my stock portfolio?….

Or ARE the real estate lovers getting poorer paying mortgages to banks which are in turn paying dividends to my stock portfolio making me richer..???

Any REAL ESTATE REITS you suggest??

—————————————————-

My house doesn’t pay a dividend but my overall costs of ownership are close to a comparable rental (live in an area with 0.1% vacancy, got in early + cheap money + dogs) and I, hold for it, live in it. Having a coffee looking at the lake right now. Good luck hosting Christmas dinner in a REIT.

PS. I don’t consider my home an investment, never have. So not at all disappointed it doesn’t generate a dividend. Am very much looking forward to never paying rent again, when it’s paid off.

Still not sure why folks around here are so triggered by others that own RE, to each their own, if I didn’t have a family and dogs I would be all over a rental.

#100 MF on 12.28.18 at 11:54 am

85 not 1st on 12.28.18

Dual citizenship (citizens of convenience) should be abolished.

MF

#101 Moh on 12.28.18 at 12:00 pm

Hey Garth,

Thanks for the insightful post as usual. But I hate to say it people in your comment section are just so mad about everything.

Some of them forget that the job market has been so robust these days. Some of us have been able to secure new gigs and clients. Yeah maybe the real estate market and stock market is struggling. However some of the gains to be made with the record employment levels can offset a lot of those losses.

Maybe everyone’s situation is different however we have some great opportunities right now in the job market.

Take it from me I’m a so called entitled millennial (never liked that label, been employed since age 14).

Thanks again Garth, cheers to you!

#102 Alex @ Luxury BC on 12.28.18 at 12:08 pm

There are WAY too many Realtors so this will thin the herd and only the best will survive. Here in Victoria we’re seeing quite the slowdown already over $2.5M and I’m expecting to see a rough year ahead.

I’d certainly like to see away with the 30 year mortgages and stress test but bankers are too greedy.

#103 Shawn Allen on 12.28.18 at 12:13 pm

Debt Becomes Us?

#63 not 1st on 12.27.18 at 10:10 pm
#28 Shawn Allen on 12.27.18 at 6:42 pm
Perspective
The average or typical standard of living in Canada has never been this high…Yet there is at least as much bitterness and claims of hardship as at any time in my life.

—–

Dude, we are all living high on the hog because of debt on the backs of the next generation. $2T personal debt, another $1T Federal and another $1T provincial. Throw in credit cards some student debt and auto loans and we are in up to our eyeballs.

Ask your grandparents how much debt they had.

******************************************
You are right that debt and credit contributes to our standard of living. Absolutely. Debt and credit are the grease of the economy. Debt and credit may be the most valuable invention that humans have ever come up with.

You are wrong to conclude that today’s debt harms the next generation. Past debt has contributed to the enormous assets that the next generation inherits.

The next generation too, will use debt. Government debt can be plowed forward indefinitely. When one person pays off a debt, another person is taking out a loan and personal debt will always grow in dollars though it may occasionally drop as a percent of GDP.

Do you really disagree that today is the best time in history to be born?

As to my grand parents. Well, I’m 58 and my grandparents were born from 1884 to 1900. Born into houses without electricity or running water. Two of them lived to see men walk on the moon. Both sets of grandparents lost children to disease. Only one had central heating in the house by the time she died. Their standard of living most of their lives would be considered totally unacceptable today. They lived through the depression in the prime of their working lives.

One of my grandmothers never had a job. The other did after she was widowed. Both were widowed in their 40’s long before some of their children were out of the house. Gee those were the days. With or without a “job” both worked hard over their lives.

What fool today would ask to be born circa 1890?

#104 Phylis on 12.28.18 at 12:25 pm

Anyone get a feeling that a reincarnated scm walks among us after taking a few environmental classes, given the new lectures we are being subject to…

#105 Crazyfox on 12.28.18 at 12:39 pm

#76 Remembrancer on 12.28.18 at 8:15 am

I stand corrected. Simple mental error but as I’ve stated, I’m not the smartest guy in the room now am I. Even so, it doesn’t make my point any less correct being that Green tech is the future and conventional energy generation is the past, at least in terms of new projects coming online and especially so in transportation going forward. Once again, it doesn’t take a stable genius to see it coming. Oil worshippers better get used to this new reality. It will start really hitting home in 2021… 2022…

#106 Crazyfox on 12.28.18 at 12:50 pm

#89 Godth on 12.28.18 at 10:14 am

Farm is too small a scale, I’m too old to scale it up but thanks for the rude reminder of my station of life.

Even so, I converse with farmers 10 to 15x my scale who buy new routinely and the last conversation relating to electric powered tractors and combines with a farmer of this scale was 2.5 years ago. He had a sales rep tell him 2027 was their best guess as to when the market would see them. What JD is waiting for is major tech advances in batteries and the world best buckle up, its coming regardless of one’s want to mock, or Luddite desire.

#107 S.Bby on 12.28.18 at 12:50 pm

So the stress test is doing it’s job so let’s get rid of it?

And we can’t build some pipelines to sell our oil and so we leave millions of dollars every day just sitting on the table.

And yet we want to encourage citizens to borrow up the ying yang on mortgages to buy non performing houses.

How Canadian.

#108 Crazed and a little confused on 12.28.18 at 1:15 pm

Hello people,
A friend read my post and he mentioned my previous post may be misconstrued to be a lost in principal $$$. But most of my stocks are still well within the profit range.
I bought apple at about $115 and I sold it @$180. Bought it back @$170 right now it’s $150
But I did buy AT&T $31 now @$28. I used money from selling time Warner . So yeah used my gains to buy a stock low and went lower.
However it does give me $116 US every 3 months.
Not perfect but positive cash flow and paying less tax.
Doing math. I make a little over $14k last year . My tax payment to Cra WAS $1325 . If it was income I would be paying $4k.
Thanks to tfsa and rrsp
Still not as good as real estate. But what do u expect when you leverage $1 to borrow $92

#109 SimplyPut7 on 12.28.18 at 1:19 pm

The $3 million narrow house the media was raving about a few days ago has been on the market for 100 days. I guess someone forgot to tell the realtor we get sold data now so no one is paying that price.

Check out the $3 million view in the last picture.

https://www.cbc.ca/news/canada/toronto/riverdale-skinny-house-3-million-1.4960245

#110 Godth on 12.28.18 at 1:27 pm

#106 Crazyfox
do numbers, maths, scale, etc. penetrate your techno-optimism? do you realize there are people that have studied these things carefully?
Vaclav Smil – Drivers of environmental change: focus on energy transitions
https://www.youtube.com/watch?v=nJxmlNyu4sE

#111 patty twinkle toes on 12.28.18 at 1:57 pm

#101 Moh on 12.28.18 at 12:00 pm

Insightful posts indeed! As one moister to another, i feel the same way as you. Lots of complainy pants out there.
Just gotta put your head down and get to work.

I’m excited to be alive in these wonderful/crazy times. Think of all the things we’ve seen in our short 30ish years on this planet….and how much more is to come. Imagine the things Garth and the baby boomers have seen? And their parents? Heed the advice and wisdom of those that have come before us. We’re gonna be just fine brother.

#112 New Reality on 12.28.18 at 2:14 pm

#105 Crazyfox – The only new reality today, and in the future, is that we are living between parallel realities with the MSM in the middle. Our biggest enemy is the MSM and Social Media that are continually creating a distorted reality, sending us into an utter state of confusion seeking out the truth.

#113 Crazyfox on 12.28.18 at 2:47 pm

#93 NoName on 12.28.18 at 10:38 am
#94 Godth on 12.28.18 at 10:42 am

Ok, I’m asking now. Take the time and watch the video. I really don’t care that its 1hr and 55 minutes long, watch it anyway :

https://www.youtube.com/watch?v=TRcx-btcle4&t=6266s

No name, the idea that solar and wind can’t get scaled up is rubbish. David MacKay’s entire premise is that world consumption of electricity is .1 watts per square meter with a global average of 200 watts of solar. So he logically says solar can’t scale, we would have to dedicate 1 out of every 20,000 square meters world wide. Factor oceans and 20,000 reduces to 6700. Factor solar efficiencies (now achieving 23% in testing and growing) and we are at 1500 ball park. 1 in 1500 square meters of solar panels to power the world, that’s not achievable by scale according to David. Right?

The question that begs to be asked is this. Is .1 watts per square meter consumption a measure of average source of production or sources of consumption? Is that number even accurate?

We lose 2/3rds of generated power on average globally through transmission. Generate at source of consumption and now its 1 out of 4500 square meters.

40% of conventional energy is there for peak hours only, used mere days out of a year. Perhaps its 1 out of 8000 square meters…. maybe 1 out of 10000. Is that scalable now? Not so far fetched if city roof tops go solar and yes, we have the commodity supply for it.

All eyes are on Australia where there is a very real effort underway with roof top solar. They have solar advantages there and yes, its possible. At today’s 4.5 to 5 cents a kwh combined solar and storage and storage coming down to $250 or less per kwh cap cost (it will get much cheaper, below $100 with solid state) its possible, of course not only financially but logistically. Power companies are struggling there now and grid power has gone up for those left on the grid to compensate with the industry fearing a death spiral as this further encourages the rest of power consumers to go off grid. Government may have to step in to provide grants and loans for low income homes. Growing pains, winners and losers but of course, its not only possible but happening. Today.

Don’t waste time on “neo environmental” branding essays or mocking Utopian pipe dreams, none of that will matter. Its all about practicality and affordability. Market forces are going to sink or swim Green tech on its own regardless of emotion as market forces always have.

What did I say? Watch the video. Its boring, I know, I know and he doesn’t know everything, no, only stable genius’s like Trump claim as such. Not as much fun as belittling that which we don’t understand, we are products of our environment, I get it. Information often is bland but small sacrifice to pay for knowing what’s coming don’t you think? Just watch the video. Then you can insult and argue if that still floats your boats.

#114 Ray on 12.28.18 at 2:55 pm

#61 Smoking Man on 12.27.18 at 10:01 pm
We are not alone.
———————

Neil A backwards is Alien

#115 Paul on 12.28.18 at 3:29 pm

#109 SimplyPut7 on 12.28.18 at 1:19 pm
The $3 million narrow house the media was raving about a few days ago has been on the market for 100 days. I guess someone forgot to tell the realtor we get sold data now so no one is paying that price.
————————————————————————————————
So if you weren’t getting the data, you may have bought that place. Never was worth 3 million most likely never will be.
Check out the $3 million view in the last picture.

#116 30 on 12.28.18 at 3:31 pm

#68
Who the hell wants a 30 year mortgage anyways.

If the interest rate is near 0, or even near inflation, I see little objections to a long term.

But yeah, at higher interest rates, 30 years would mean that a lot of wealth is going from you to your bank.

#117 jess on 12.28.18 at 3:32 pm

…”The Labour review noted that UK has had a banking/financial crisis in every decade since the 1970s. In every case, auditors delivered worthless audits. It provided examples to show that auditors failed to co-operate with regulators.

All too often auditors hid behind ‘confidentiality’ of information or the claim that they are not ‘global’ and therefore their international arms were beyond the regulatory reach. ..”

http://visar.csustan.edu/aaba/LabourPolicymaking-AuditingReformsDec2018.pdf

Italy Antitrust fines ‘big four’ accounting firms total of 23 million euros
Reuters
Nov. 7, 2017, 11:29 AM

https://leftfootforward.org/2018/12/revealed-why-we-cant-afford-the-cost-of-audit-failures-any-longer/

#118 Fortune500 on 12.28.18 at 3:32 pm

So after all the Hooplah, we are going to roll back the tiny bit of good work we have done just as the real estate market has lost a small amount of steam, and prices have merely stalled in most markets, and just keep this thing rolling along. Man what how short sighted we Canadians are.

#119 akashic record on 12.28.18 at 3:35 pm

#100 MF on 12.28.18 at 11:54 am

85 not 1st on 12.28.18

Dual citizenship (citizens of convenience) should be abolished.

Just the opposite… a global citizenship for everyone, valid in every single country on the planet, to be able to pick the best place for whatever you plan to do with at different stages with your life.

If capital can do it – why not people?

Until then everyone should have two or three.

#120 NoName on 12.28.18 at 3:40 pm

Hey crazy you want someone to worry, just googled it synthetic cannabinoids, that are not legal here but they are legal to produce and sell in some funny commie run country.
Google Brooklyn Zombi Apocalypse. Do some research on it.
Start here.
https://www.thedailybeast.com/synthetic-weed-is-back-bigger-than-ever-and-scary-as-hell

#121 DON on 12.28.18 at 3:49 pm

Godth vs Crazyfox

Godth, the first car was slower and inefficient than a horse, imagine what they thought at the time. As technology evolves more and more becomes plausible. Captain Kirk had a communicator that looks like a flip phone (that’s so yesterday). Vested interests keep things in the dark but as the technology becomes readily available things change.

Battery storage could be the next improvement if it is deemed a military advancement. Or it could be something different such as capturing static electricity. Hey they are now talking about nano bots. Who knows before the electric cars take hold they could be out performed by another form of electricity or a rehash of the old, now plausible. How much longer will laptops be around when a phone can do it all, just need and external keyboard and screen.

#122 AGuyInVancouver on 12.28.18 at 4:18 pm

So after all that, the government might just cave? How ridiculous, do they think house prices can go up forever in the face of stagnant incomes?

And you’ve got to love the Kits realtor’s turd polishing: condo sales +0%!

#123 DON on 12.28.18 at 4:19 pm

In terms of real estate sentiment has changed…things have declined. Prices don’t rise forever and people have a taste of that. Fear is now your biggest motivator as salaries are the same and first time home buyers are priced out. Things have already changed. I was told that I can now get a house in retirement mecca for the high 300k, early 400k. How can you replace all those who are passing on in a low average employment environment. Parksville/ Qualcomm areas. Young people are priced out and the old are checking out. Hmmmm

Everything is temporary. People with better than average incomes are struggling and indebted at all ages. Divorces and bankruptcies are up?

#124 Unknown World on 12.28.18 at 4:28 pm

#114 Ray – You just might be on top of something because Neil A was a weird dude. Was he a hybrid in disguise? It beats me that he met this mystery girl hosted by Alpha Chi Omega, and were married on January 28, 1956. There was no courtship or circumstances of their engagement that they could remember. The Smoker probably knows for sure.

#125 NoName on 12.28.18 at 4:31 pm

@verrückter fuchs

its on German, use chrome click translate.

https://www.welt.de/wirtschaft/article176294243/Studie-Umweltrisiken-durch-Schadstoffe-in-Solarmodulen.html

“Based on installed power and performance weight, we can estimate that by the year 2016, photovoltaics has spread about 11,000 tonnes of lead and about 800 tonnes of Cd (cadmium),” the study said.

https://www.atsdr.cdc.gov/csem/csem.asp?csem=6&po=10

Depending on the route of exposure, cadmium has differing rates of absorption and varying health effects. Cadmium is a cumulative toxin. Its levels in the body increase over time because of its slow elimination. It accumulates chiefly in the liver and kidneys. However, it also accumulates in muscle and bone.

The principal organs affected by cadmium’s toxicity, both acutely and chronically, are the:

kidneys,
bone, and
lungs.
The lungs can be damaged by acute inhalation exposures as well as suffering effects from more chronic occupational exposures. The kidneys can be damaged with both acute high-dose but more commonly, long-term chronic exposures. The bone disease that occurs with above average chronic exposures is thought to be secondary to cadmium’s effects on the kidney.

#126 palebird on 12.28.18 at 4:33 pm

#103
“You are right that debt and credit contributes to our standard of living. Absolutely. Debt and credit are the grease of the economy. Debt and credit may be the most valuable invention that humans have ever come up with.”

I am seeing people on this blog go on and on about how things are just great and the party will never end. What a joke. One of the great lessons in life is coming to the understanding that nothing is free..ever..Get over it.

#127 KLNR on 12.28.18 at 4:50 pm

@#82 crowdedelevatorfartz on 12.28.18 at 8:55 am
@#58 Renters Revenge
“I willing to bet that most of the complaining is done by people of below average economic means. ”
+++++

Nope.
I work with a guy who will Net over 90k this year. His wife will haul in about 60k this year.
Savings ? Zero.
Debts? 70K at a minimum. Cards, Loans, Line of Credit. All for things they dont really need.
They rent, they spend more than they earn on crap. They both smoke, drink, party.
Both in their late 50’s.
Not a pot to piss in or a window to throw it out of.
The latest purchase? An $800 puppy for their 10 year old kid who gets everything she whines for.

This guy constantly bitches about his job, his salary, the banks, the creditors chasing him, on and on and on….its everyone else’s fault……..as his wife spends $200 on a monthly haircut………

You cant teach Stupid people new tricks.
____________________________________

So tired of folks complaining about their lot in life.
Quit blaming everyone else and take a good long look in the mirror. It is incredibly easy to do well in Canada if you want to.

#128 Godth on 12.28.18 at 4:58 pm

#113 Crazyfox
why would i listen to your salesman when i can read/listen to vaclav smil who’s already chewed up and spit out your happy fantasy.
“Smil has forced climate advocates to reckon with the vast inertia sustaining the modern world’s dependence on fossil fuels, and to question many of the rosy assumptions underlying scenarios for a rapid shift to alternatives. “He’s a slayer of bullshit,” says David Keith, an energy and climate scientist at Harvard University.”
https://www.sciencemag.org/news/2018/03/meet-vaclav-smil-man-who-has-quietly-shaped-how-world-thinks-about-energy

maybe you should listen to vaclav smil instead of your salesman.

#129 yvrmc on 12.28.18 at 5:25 pm

#71 Abalone …wow chill out girl friend . They are only words . He wasn’t advocating anything by it. Biggest problem we have as a country and a culture is over or hyper sensitivity to words. You might not like it it but he gets to say it. I think the constitution might even speak to that ….

#130 Need more construciton on 12.28.18 at 5:33 pm

T2 could attract the voters by removing the obsolete regulations, release lands and encourage the commencement massive construction, possibly new cities around the GTA. But it is more probable that he will increase money supply… It is easier and faster way to please ignorant sheep.

When ignorant people elect good looking, but incompetent and unethical politicians, do not expect miracles.

#131 TRUMP 2020 on 12.28.18 at 5:37 pm

DELETED

#132 Crazyfox on 12.28.18 at 8:59 pm

#128 Godth on 12.28.18 at 4:58 pm

Salesman? You lost me and I will answer you on Garth’s next piece.

#133 Fish on 12.28.18 at 11:13 pm

Canada Pension Plan enhancement
As of 2019, the Canada Pension Plan (CPP)

https://www.canada.ca/en/services/benefits/publicpensions/cpp/cpp-enhancement.html

#134 David Paquette on 12.29.18 at 12:20 am

DELETED

#135 Moh on 12.29.18 at 1:25 am

#111 patty twinkle toes on 12.28.18 at 1:57 pm

Lots of amazing opportunities if you are in the right position. Life is beautiful. Just praying for long life!

#136 Steven Rowlandson on 12.29.18 at 8:12 am

This real estate price inflation insanity has to end!

#137 David Paquette on 12.29.18 at 1:30 pm

I learn and wont do it again. Just the same I thought it was pretty innocent.