The hinterland

Why, he wonders, would anyone stay in Toronto where a slanty semi complete with icky bugs can easily cost seven figures. If your job’s portable, or online, or you create your own, and you want a house – why struggle in the GTA?

Some months ago we brought you the tale of a moister who asked just such questions. Matttieu actually made it into the troubled MSM after being featured on this blog and declaring he was outta here. Not bound for Italy, olives and sun, but Quebec, the oldest city in Canada (1608), where the average house sells for south of $250,000.

Well, he landed. And bought. Here’s the update:

We flew to Quebec City and rented. Our neighbor, a smart entrepreneur, recommended that we make lowball offers on houses, telling us that people close to him have lost money on flips, and pointed out that condos are the worst segment of the market (12 sellers to 1 buyer).

After visiting 17 houses, we bought a detached house. The asking price was around the price of a 2 bedroom condo in Toronto. The house has a double garage, 4 bedrooms, 4 washrooms, a metal roof (50 year warranty), central vacuum, air exchange system, a solarium with a glass ceiling, a small wine cellar, is in a nice location 2 minutes walk from a view of the St-Lawrence, 25 minutes for a mountain. Best of all, Quebecers are not obsessed with houses. At work, no one talks about it. It’s healthier.

We bought for 16% under asking. Our real-estate agent told us we would never get the house for the price we offered, but the house had been listed for 250 days and so my wife insisted he makes the offer. 2 hours later, our agent calls me back saying the offer was accepted, tells me that that his wife (also an agent) also couldn’t believe it. Actually, my house is probably already worth less since the house in front has dropped its listing price twice over the last 6 months.

Our exodus does have downsides: The winters are colder, longer, windier. A city of Vikings. In January, our hydro bill was $600 and we keep the temperature at 20 or below. Same in February. Also, taxes are higher. So, who else is coming?

By the way, sales in Quebec City, Montreal (average detached price $330,000) and Halifax (average single-family home selling price $337,600) are booming. Up by double-digit numbers. Inventories are tight. Local agents say the bleed out of Ontario is evident to everyone – and they love it.

Is this evidence more mobile, adventuresome, indie Millennials are escaping mom’s clutches and moving where they can actually have a life – kids, dog, house – and afford it? Maybe. But the stats suggest something fundamental is happening. Sales are flat in the GTA and riding close to a 30-year low in Vancouver. And while prices gently and incrementally increase in smaller cities, they remain well below the 2017 peak in Toronto and are melting fast in 604.

In fact, it was actually news in the YVR media some weeks ago when a house sold for less than a million. Of course, it was a piece of crap, but it was also taken as a harbinger. Which it was.

This week the daily media ran a breathlessly new item saying East Van listings below $1 million are proliferating, and almost all sales now are for less than assessed values. Like this one… 1113 McLean Drive changed hands for $880,000 – $300,000 less than it was assessed at a year ago and $400,000 less than the year before that. The 109-year-old mini-house sits on 25 feet of dirt across from a school, beside an apartment building. Yes, it’s also crap. And the people who bought it better not think it was a great deal since the owner paid $330,000 just four years back.

It’s this unmitigated greed embedded in the housing markets of major cities that is repelling so many young buyers. And rightly so. The moisters shelling out $900,000 (with closing costs) for this dodgy shack will spend decades paying back the half-million dollars of profit they stuffed into pockets of the seller. For that money in a smaller city they could acquire a beautiful property plus still have a nestegg for the future.

In fact, here’s what the same money buys in Montreal (Laval). This house has a 90-foot frontage, big garage, pool, five bedrooms and four baths. By the way, Montreal is a larger real estate market than Vancouver, arguably home to some of the country’s most unique culture. Plus $8-a-day child care. And the Habs.

Of course, there’s added winter in Montreal or Quebec City. But that just makes it more perfect for the snowflakes around us.

About the picture...
“Snapped this one today on the streets of West Kelowna… In between the floods and the fire seasons,” says Ron. “Feel free to use as you see fit.  I never got their permission but somehow I don’t think either of them reads your pathetic blog.”

155 comments ↓

#1 Stan Brooks on 05.09.19 at 4:26 pm

In the land of the idiots:

https://ca.finance.yahoo.com/photos/theyre-asking-what-realtor-rap-video-big-ups-torontos-lil-yellow-house-164519185/yellow-one-youtube-163208406.html

https://www.youtube.com/watch?time_continue=8&v=u3xDF16-_vg

#2 Dave on 05.09.19 at 4:33 pm

Money laundering in over $5B in BC and NDP are putting one last nail in the real estate coffin.

Message in BC is clear, all real estate money leave BC now and never come back.

Prices are guaranteed to TANK but will come with big waves of unemployment.

#3 crowdedelevatorfartz on 05.09.19 at 4:34 pm

$880,000 for a piece of crap wedged between two taller buildings.
Idiots.
Stick a fork in YVR.
This market is done.

#4 Smartalox on 05.09.19 at 4:43 pm

Laval is NOT Montreal.
It’s like the Surrey of Montreal – no wait, that’s not fair.

It’s like the White Rock of Montreal. You have to cross a bridge to get there, and the choke points are notorious.

Still, that home is cheaper than a comparable in White Rock, and provided that it is out of the flood zone, might be an attractive option – if you don’t have to head into the city every day.

#5 TheSpangler on 05.09.19 at 4:53 pm

Moved from the Sea to Sky area to the interior, now making more money and my cost of living is way less. Vote with your feet people!

#6 NotLegalAdvice on 05.09.19 at 4:56 pm

Quebec eh? I’ll think about it, but doesn’t seem likely. I’m not cut out for the longer winters.

#7 Mike on 05.09.19 at 4:58 pm

.
BC money laundering cartel got some sunshine today.

“Laundered money funded $5.3B in B.C. real estate purchases in 2018, report reveals”

https://www.cbc.ca/news/canada/british-columbia/laundered-money-bc-real-estate-1.5128769

Thanks to the Orange NDP team. Yes, Thanks, I mean really!! Better than corrupt Cristy.

But, I dont think governments will stop money laundering.

Dirty money laundering has become a good part of GDP numbers now in Canuckland.

#8 Montreal Local on 05.09.19 at 4:58 pm

Of course, real estate within Quebec and even within Montreal is highly local. We do have mega bubbles similar to what has been happening in Toronto. Notably, in the Plateau Montreal, and also in parts of Outremont, Victoria Village, and Westmount; here, apartments and detached houses have increased in value by a a factor of at least 2, if not 3, since 2007ish, and have increased by a factor of 4 since the late nineties. And don’t forget that the quality of residential buildings in the province is quite average, far from Northern European standards; 100-year old oil furnaces and single-pane windows are common, not to mention insulation problems regarding both noise and heating. The local bubbles have been further pumped up by landlords who have leveraged to the max by holding many properties, using their increased valuations for previous properties to get new mortgages. If you look at the online housing registries, you will see that in the abovementioned areas, about half the buildings are owned by a small group of speculators that on average own about 5 buildings in these areas; that is what has been causing the bubbles, to a large part. These speculators have been gambling not just on Chinese and Middle East money, but also on the exodus from millenials and Gen x-ers from France, which has a special visa programme with Quebec. Meanwhile, the local politicians are looking for more ways to open the floodgates to international money of dubious origins. At the same time, Quebec cannot do without multibillion dollar transfer payments from other provinces; we cannot stand on our own economically, and it is much more of a banana republic here than in other provinces – the fact that Trudeau junior is from here is not a coincidence, his way of trying to influence the AG in order to protect SNC Lavalin fits quite well with the general mentality here of doing business, even more then in the rest of Canada the province is run by a bunch of well-connected families that act as oligopolies with the government’s blessing and oiled by corrupt money.

#9 Smartalox on 05.09.19 at 5:04 pm

Re: Report estimates $5,000,000,000 laundered through BC Real Estate in 2018.

So I pulled the REBGV stats for December 2018, and flipped to the ‘Year to Date’ figures (covers all of 2018).

Detached: 7542 units sold, at an average of $1.6 Million per unit is $12.5 Billion.
Attached: 4306 units sold, at an average of $893k per unit is $3.8 Billion
Apartments: 12,771 units sold at an average of $677k per unit is $8.6 Billion.

Totals: 24,619 units sold, $25.1 Billion transacted.

Even if the lower mainland (includes Squamish, Whistler and the Gulf Islands) represents 2/3 of the value of BCs Real Estate markets, and assuming that money laundering activity in BC real estate was evenly distributed cross the province, money laundering accounted for 13% of the dollar value of the market served by the real estate board of greater Vancouver.

And that’s only for 2018.

#10 Ryan on 05.09.19 at 5:04 pm

Ottawa has also really exploded. The Real Estate board just said the average digs are now $500K, but that includes condos!! Honestly you’d be hard pressed to find a single detached for less than $600K inside the greenbelt in an area with accessible transit and good schools. The last two years has seen an incredible spike in both home and rent prices. As for us, we’ll just keep renting a rent controlled unit bringing in $200K gross, banking and investing. Thanks Garth! We already see freedom at 40!

#11 PastThePeak on 05.09.19 at 5:05 pm

It really is an issue only in GTA, BC LML, and the extension of GTA through parts of southern Ontario. Perhaps 25% of the population lives in these areas, so not insignificant.

For the rest of us (75% would be considered a large majority), this isn’t that big of an issue. Yes, homes are more expensive on price-to-income than 20 years ago, but not really out of whack with the lower borrowing costs.

In my burbs of Ottawa you can get a townhome under $300K (some, not many, need work), a very good town (3br) under $400, and lots of fully detached 4-br under $600K.

Real estate was a topic in Ottawa from maybe 1999-2007, but things went very flat for a decade, and no one talked about it. Even now, after a couple years of jumping a bit, you don’t read or hear much. As it should be…

Now, that doesn’t mean tons of people haven’t leveraged themselves very badly with HELOCs, on CC debt, auto loans, etc.

#12 Captain Uppa on 05.09.19 at 5:06 pm

Quebec City is beautiful, one of my favourite places in Canada.

Having said that, I’m ok just visiting. It’s important to have family close to me and my wife. They are all in GTA and life is good. Expensive? Yes! But to me, it’s worth it…and worth more than just dollars.

#13 Bonhomme Carnaval on 05.09.19 at 5:07 pm

Merci Garth !

Nous t’adorons ici dans la Belle Province !

Au plaisir,

#14 Hawk on 05.09.19 at 5:10 pm

That’s quite a colorful garden shed, I’d have to agree. But at $499K, I’ll pass :-)

#15 yorkville renter on 05.09.19 at 5:15 pm

Those Quebec prices are enticing, but I still prefer renting and living in Toronto. I can’t imagine even more winter… *shudder*

#16 Re-Cowtown on 05.09.19 at 5:19 pm

By the way, Montreal is a larger real estate market than Vancouver, arguably home to some of the country’s most unique culture. Plus $8-a-day child care.

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

Day care paid for by Alberta. You’re welcome.

#17 Bob Loblaw on 05.09.19 at 5:22 pm

An independent review found $5B was laundered in BC real estate last year alone…the impact to the cost of a home was a 5% increase

Billions more has been laundered in BC real estate over the past 20 years

This is why houses are 14x household incomes in Vancouver. Will Garth finally believe what many have been saying on this blog for years? Foreign buyers and dirty money created this mess

https://vancouversun.com/business/real-estate/money-laundering-hikes-b-c-real-estate-prices-report

#18 Anon but a huge fan of you Garth on 05.09.19 at 5:26 pm

https://www.cbc.ca/news/canada/british-columbia/first-month-free-landlords-offering-pretty-perks-to-attract-renters-1.5128773

Regular reader here thought your blog might like to see this.
Thanks for your words Garth, the kind, and the not so kind but really funny

#19 grumpy panda on 05.09.19 at 5:27 pm

Much howling at work this week as in Oakville a neighbour dropped their price from $1.2 mm to under $1 mm. Pitchforks and tiki torches out of stock now at the local home hardware. Live moisters discussion on my TTC bus: “We should flip a house! We can make $30k in 3 months!”

#20 Top Line Story on BNN on 05.09.19 at 5:27 pm

BC has a whole lot of funny money going through real estate.

Insiders are telling me this is a trigger event now that it has gone public.

AG DE just stood tall and said the party is over for funny money in BC. It even part of this is true the RE market is going over a cliff, which it already pretty much has in West Van.

#21 PeterfromCalgary on 05.09.19 at 5:33 pm

Attention: Vancouver Business People

Move to Calgary!

-You can buy about 5 times the house per dollar and we have no provincial sales tax.
-We won’t force you to buy an expensive electric car or some other stupid green washing nonsense. In fact Jason Kenny is promising to cut red tape and even appointed a minister in charge of cutting it.
-We have lots of office space and a well educated work force.
-If you need to get back to Vancouver it is only a 22 minute flight or 11 hour drive if your feeling adventurous.
-Corporate taxes are going down from 12% to 8% over Jason Kenny’s first term.
-We have no empty house tax and no foreigner house tax.
-We have mountains as well. You just have to get use to looking West instead of East to see them.

#22 Chimingin on 05.09.19 at 5:36 pm

My Boomer parents are closing on a house with a lovely property on the South Shore of Nova Scotia in a few days. They moved from Ontario, not out of economic necessity, but because they love it there. Mind you, the profit they cleared was a bonus. They also left because they got tired of hearing everyone in their 55+ community north of the GTA bitching about costs. There is more to life than real estate; they wanted an adventure, and I am very happy for them.

#23 MF on 05.09.19 at 5:38 pm

As others have said, that’s a no from me.

Nice place but the harsher winter is a big draw back. I would rather spend more and leave in Toronto (serious).

MF

#24 Victoria Real Estate Update on 05.09.19 at 5:40 pm

Garth you know as well as anybody does what constitutes a housing bubble: basically when housing prices skyrocket while income gains barely budge in comparison.

Since 2000 house prices in Montreal have tripled (Teranet), while incomes have barely moved in comparison. Incomes would have had to triple along with house prices since 2000 for price levels to be supported, but that hasn’t happened. Not even close.

In other words, Montreal’s long-term historical price to income ratio has been dramatically inflated as a result of skyrocketing house prices with only tiny income gains over the same period. This is what constitutes a housing bubble.

It doesn’t matter whether you use 15, 20, 25, 30.…yrs. – the numbers simply show that Montreal has a massive housing bubble.

Since 2002 Montreal’s housing price run-up has made San Francisco’s look small (fifth chart). This means Montreal’s housing bubble is significantly bigger than San Francisco’s.

And claiming house prices in Montreal aren’t extremely inflated by comparing to Vancouver or Toronto is ridiculous. How is that different from what most realtors would do?

#25 Ottawa, Monreal, Toronto on 05.09.19 at 5:42 pm

Pay attention to what is unfolding in BC.

Tital wave of bad money hitting East. Ottawa hitting 500K now? Not a surprise. Feds asleep at the wheel.

#26 mike from mtl on 05.09.19 at 5:51 pm

Damn it, we need to vote back in the PQ to keep you squareheads out.

#4 Smartalox
Yes, Laval is NOT what I would consider as Montreal proper.

#27 DavidW2 on 05.09.19 at 5:53 pm

Ottawa seems to be under the radar. It’s a beautiful city, great schools, healthy employment rate, stable economy, decent home prices outside of the green belt (which is only an extra 15 min into the city). Like an earlier post said, you can get a nice town under or around 400k, and detacched in the 500-600k range. A million will buy you a stellar home, not a shack like in the GTA or Van. Highly recommended coming here. Lots of room for price appreciation.

#28 crowdedelevatorfartz on 05.09.19 at 5:55 pm

@#17 Bob the Liberals Lobbed the Law

https://vancouversun.com/business/real-estate/money-laundering-hikes-b-c-real-estate-prices-report

Yep.
This aint news to the people who live here.

At least the NDP was willing to investigate…. as opposed to the Christy Clark Liberals that terminated investigations….

#29 Brian Ripley on 05.09.19 at 5:57 pm

…Quebec City…where the average house sells for south of $250,000. Garth

Ahem, as I have been saying for many years now:

When earnings drop so do asset prices. ​Wage earners needed to buy a single family detached house in: Vancouver: 2.9, in Toronto: 2.0, in Calgary: 0.9 and in Montreal: 0.7

​It remains interesting to note that the combined average sum price of a Vancouver, Calgary & Toronto condo is currently April 2019) 52% (no typo) more expensive than a median priced Montreal SFD; in March 2018 this metric hit a high of 64%.

Ex-Calgary, the sum is 88% more expensive.

My 6 city chart: http://www.chpc.biz/6-canadian-metros.html
Earnings charts: http://www.chpc.biz/earnings-employment.html

Self employed people have a much wider selection of housing choices eh?

#30 Smartalox on 05.09.19 at 5:57 pm

When you consider the effects observed in BCs Casinos since the implementation of new rules to combat money laundering (The newest and flashiest Parq casino is struggling, and can’t afford its debt repayments), I wonder what the effect of this latest revelation will be, regarding money laundering in Real Estate, as opposed to gaming.

I also have to wonder how long the effects will last.

Everyone knows that turning on the lights causes cockroaches to scatter initially, but it doesn’t solve the problem, or keep them away for long.

If governments don’t act on these reports – provincially AND nationally – the problem will not only return shortly, but will surely worsen.

#31 Jefferson on 05.09.19 at 6:01 pm

Currently visiting family in St, John’s. Houses way cheaper to purchase, but rent is not all that much cheaper than GTA suburbs, kind of disappointing. (not backing this up with numbers, but I check listings frequently.)

I’ll stick with my 1 year old rental; end unit townhouse in East Gwillimbury,ON at $1725/ month, thanks. (no basement tenant either btw)….

#32 IHCTD9 on 05.09.19 at 6:02 pm

#11 PastThePeak on 05.09.19 at 5:05 pm
It really is an issue only in GTA, BC LML, and the extension of GTA through parts of southern Ontario. Perhaps 25% of the population lives in these areas, so not insignificant.

For the rest of us (75% would be considered a large majority), this isn’t that big of an issue. Yes, homes are more expensive on price-to-income than 20 years ago, but not really out of whack with the lower borrowing costs.

In my burbs of Ottawa you can get a townhome under $300K (some, not many, need work), a very good town (3br) under $400, and lots of fully detached 4-br under $600K.
———

Yep, grvd and gta along with their respective bedroom communities is where all the RE headlines are generated.

I am barely 30 minutes east of the last desperate stop for the totally insane “bedroom community” for the GTA (based on house prices), and a nice house is 350k, a new subdivision house about 400k, and a brand new out of town house on a acre is about 500k. Really super nice make your friends get angry places are 600-700k.

If a couple can nail down decent employment (or create it), you can live a pretty comfortable life while still saving and having some spare change for toys or travelling. It’s ideal if you like to work and do things outside, not so great if you spend your spare time in restaurants and cafe’s.

#33 Suede on 05.09.19 at 6:03 pm

Uh-hoh, big report on money laundering in BC.

That would explain the pink bear lambo and the spongebob yellow McLaren in the $15/day parkade downtown.

Funny money buys the car… students pay for cheap parking.

#34 dakkie on 05.09.19 at 6:06 pm

Bank of Canada’s Plan to Enslave you – The Jasper Project

https://www.investmentwatchblog.com/bank-of-canadas-plan-to-enslave-you-the-jasper-project/

#35 The Wet One on 05.09.19 at 6:07 pm

We were talking taxes and Italy here the other day.

Just to interject some facts into that discussion, I’ve got this for your consideration: http://www.oecd.org/tax/tax-policy/taxing-wages-canada.pdf

“Canada had the 33rd lowest tax wedge in the OECD for an average married worker with two children at 11.7% in 2018, which
compares with the OECD average of 26.6%. The country occupied the 32nd lowest position in 2017.”

Just an FYI:

“The tax wedge is a measure of the tax on labour income,”

So yeah…

Something worth thinking about, or not, y’know. Whatever. In any case the deficit is out of control, so, there’s that.

#36 oh bouy on 05.09.19 at 6:08 pm

If it wasn’t for the utter lack of good job opportunities outside of gov jobs I’d leave Toronto for Qcity or Halifax as well.

#37 JacqueShellacque on 05.09.19 at 6:12 pm

With all due respect to the lifestyle set, there’s a reason these places are called hinterlands (from the German for ‘land behind’). As someone from the hinterlands (N. Ont), you only want to live there if you have a social circle and have the means to get away a few times a year. I have no doubt that Quebec City and Fredericton and Flin Flon have their charms. It’s just that if these were more livable places, more people would live there. If a 4-bedroom house isn’t worth the debt in Van or GTA, it sure as hell isn’t worth living in Saskatoon.

#38 yvr_lurker on 05.09.19 at 6:17 pm

I don’t know why trying to decipher the scope of money-laundering on the housing market in YVR was so difficult for all these years. Even without accessing the data that has only recently been collected, the present study was able to identify a rather widespread problem in money-laundering just for 2018. The figures would have probably been more significant from 2012-2017 during Christy’s time, when things were running completely unchecked. It was willful blindness, and in my view criminal, of the previous BC liberal government to do nothing when there lots of anecdotal evidence from casinos that there was a real problem. David Eby has my vote; first politician to systematically expose the huge problem and has the courage to follow it through to its conclusion. As a counter-measure, perhaps Horgan should have a billboard caricature of Wilkinson and the three blind mice on Hw 1 to illustrate his blindness to this issue while the liberals were in government. In the end, anyone with half a brain will see how these huge amounts of illegal $$$ set the upper margins of prices in YVR, and led to locals and others feeling pressured to overbid for properties to keep up with the rapidly increasing prices. Almost all the people in my circle are highly supportive of what the NDP has done to curb speculation and what they have exposed with the large amounts of illegal $$$. The next step will be to permanently close all the loopholes to drive the launderers and foreign criminal element out of BC (and hopefully out of Canada).

#39 Penny Henny on 05.09.19 at 6:18 pm

After visiting 17 houses, we bought a detached house. The asking price was around the price of a 2 bedroom condo in Toronto.-Matty

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

Two bedroom condo in Toronto? So what we talking $725K

#40 IHCTD9 on 05.09.19 at 6:18 pm

Since last year I’ve noticed an influx of non white visitors showing up here in the hinterland, except they’re not visiting, they are moving in. They are building/buying gas stations, restaurants, convenience stores and various franchised businesses and putting their families to work.

This is a big change, and to me is the single biggest indicator I can see with my own two eyes that things are getting real tough out in the gta.

Just last week in my 500 person camo sporting red neck village, I saw a south Asian (I think) family checking out an open house 20 seconds down the road from me. This is the first time I have seen something like this in the 18 years I have been here.

I think when the comfy GTA enclaves start losing families to the deer skinning, Grizzly riding, beer swilling, backwaters of Ontario, it’s safe to say something is changing.

#41 Penny Henny on 05.09.19 at 6:25 pm

This week the daily media ran a breathlessly new item saying East Van listings below $1 million are proliferating, and almost all sales now are for less than assessed values. Like this one… 1113 McLean Drive changed hands for $880,000 – $300,000 less than it was assessed at a year ago and $400,000 less than the year before that. The 109-year-old mini-house sits on 25 feet of dirt across from a school, beside an apartment building. Yes, it’s also crap. And the people who bought it better not think it was a great deal since the owner paid $330,000 just four years back.-GT

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

Who cares if it was assessed for 300k more last year.
Seller bought for 330k in 2015 and sold 4 years later for $880,000. Genius!

#42 Long Live Easy Money on 05.09.19 at 6:28 pm

The RCMP and CRA will not stop the un-taxed flow of money into BC or Canada. This issue will be on the front page for a few weeks but will fade away with time.

The money laundering report severely underestimated the money flowing tax-free into BC. Add another ZERO to the $7 Billion and we are closer to the real annual number in BC. It’s going to farmland, businesses, and residential properties.

HOWEVER! 99.5% of people shipping tax free money into Canada are not associated with any organized crime. Since the RCMP and CRA have ignored them for 20 years then it isn’t illegal or unethical. They are simply taking advantage of an easy opportunity. You would do the same if you had the financial resources.

YES we have lost out bigtime because our infrastructure and social programs have all lost an opportunity to tax this money for better funding. When someone is comfortable bidding up a local home for 100% above the asking price of 24 months early then I say tax them heavily because they obviously don’t care about value. So I say keep the foreign money flowing but tax it a 50% so we stand to benefit.

Those beautifully paved roads that go to those tax free mansions were all paid by you and your income taxes! But you can’t turn back the clock on 20 years of this lopsided nonsense where locals carried the tax burden that made those luxury areas so desireable.

But put the blame on the right population – your senior bureaucrats and political representatives. Don’t blame the people bringing in the money because they saw an easy opportunity. As I said, we all would do the same thing. OH! and blame yourselves for being naive to how money actually moves.

#43 Dolce Vita on 05.09.19 at 6:34 pm

#1 Stan Brooks

THAT was funny. I liked the piano player “chick” (sorry, couldn’t resist). Indeed, there are some talented Canadians out there with a gift for the sublime.

———————————————————

Well Garth, now I know what you mean by HOUSE PORN. Read Junior’s take on his home and it read like an artsy magazine review of Michelangelo’s “Pietà”.

I was probably like that too when I was young. Now, as long as the roof doesn’t fall in over my head, I couldn’t care less.

Age does temper you.

Well, then there’s you Garth renovating Nova Scotia and Ontario forest primeval, 1 business, historic property at a time.

Vive la différence…what makes the World all that more an interesting place to live in.

#44 Penny Henny on 05.09.19 at 6:41 pm

#23 MF on 05.09.19 at 5:38 pm
As others have said, that’s a no from me.

Nice place but the harsher winter is a big draw back. I would rather spend more and leave in Toronto (serious).

MF
//////////////

leave in Toronto?
Freudian slip?
No mention of the Phillippian girlfriend lately, single again?

#45 S.Bby on 05.09.19 at 6:43 pm

#38 yvr_lurker

I thought you left this blog on 05/05 never to return again ?

What happened?

#46 Loon on 05.09.19 at 6:44 pm

“Feel free to use as you see fit. I never got their permission but somehow I don’t think either of them reads your pathetic blog.”

Certainly not the human.

#47 oakville Sucks on 05.09.19 at 6:52 pm

If you want to have a life, you move to the US. That’s where 3 families we know moved. They have huge houses on huge lots, high paying jobs, cars and still have money left over for vacations and investments. Crime is low in these areas and health insurance ISN”T a problem!

#48 TalkingPie on 05.09.19 at 6:56 pm

It’s not been quite a year since my girlfriend and I have had our house, west of Montreal. So far our biggest problem is a couple of groundhogs making holes on our 25,000 sq ft property. The goat at the hobby farm next door makes a bit of noise occasionally, but it belongs to my flying instructor, so that’s ok.

I drive about 35 minutes to the Trudeau airport 5 times a month to go to work (flight attendant). Girlfriend works from home (freelance translator). I went flying in my instructor’s Cessna 172 three times in the last week. That airfield is a 6 minute drive from home, and now that the weather has gotten a little nicer, I’ve dusted off the 20 year-old convertible. Downtown Montreal is an hour’s drive away, the Ontario border is 20 minutes. Thankfully, I rarely go into the city unless the girlfriend convinces me to go there on a weekend to socialize, and the train is an option. This evening we have a free wine tasting at our community centre.

Life is low-stress, and between our modest-but-large-for-a-small-family 2,700 sq ft house, three (modest but nice) cars, trips fairly regularly, and my flying hobby, I consider it to to be quite lavish. Other than our mortgage (less than three years’ gross), we have zero debt, spend very little time in traffic, and have lots of free time.

Life can throw you a curve ball anytime, but now and for the last few years I’ve felt extremely lucky to live the life that I am.

#49 kommykim on 05.09.19 at 6:58 pm

#16 Re-Cowtown on 05.09.19 at 5:19 pm
Day care paid for by Alberta. You’re welcome.

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

Typical Albertan attitude.
British Columbia, Saskatchewan, Newfoundland and Labrador also contribute to equalization payments for the rest of the country. But no… Alberta pays for EVERYTHING and is SO hard done by. You’d think that if Albertans were so busy making money and paying taxes that there would be no time for them to whine online about how unfair everything is. Give it a rest.

#50 Dolce Vita on 05.09.19 at 6:58 pm

Well Matttieu, I get more excited for you about:

Québec Cuisine.

The ONLY place in all of N. America (incl. the Spanish speaking countries) where you can get a decent meal or have to hunt for a shitty restaurant (the latter, the norm in the rest of the Continent incl. the Spanish speakers).

Of course, that excludes “Poutine” and “Pizza all Dress” with the knobby in the middle – nobody’s perfect (like Rome’s “Coda alla Vaccinara” or “Trippa alla Romana” – but like Poutine, they taste great).

My Canadian stomach envies you, then again what am I saying, I live in Italia.

-Buonanotte.

#51 Timmy on 05.09.19 at 7:02 pm

Buy a house in Montreal and then you can afford to go anywhere for the winter.

#52 BlogDog123 on 05.09.19 at 7:14 pm

The real deal with the GTA is a critical mass of people and key employment. Lots of head offices, government, education and financial / legal employment opportunities. Many VP, CEO and higher paying management positions. Key decision makers. Trickles down the chain from owner, manager, to floor sweeper.

Compare that with a smaller town or city: Fewer of these higher paying jobs feeding consumption industries from the big city: Box seats at the arena, entertaining clients, swankier hotels. No Bay Street in small town, Canada.

So, Fredericton may be nice, but the young may have left if there’s no critical mass of jobs/growth/moving-up. Those left behind making less income carry a higher tax burden for the minimum level of services needed (road paving, snow clearing, hospitals, etc…)

#53 robert james on 05.09.19 at 7:16 pm

#28 crowdedelevatorfartz on 05.09.19 at 5:55 pm Well,, actually it is news to the people that live East of the Rockys.. Enjoy your posts Mr. Fartz and of course Mr. Flops..

#54 Islander on 05.09.19 at 7:23 pm

#38 yvr_lurker and #42 Long Live Easy Money

Thanks, you’ve both captured the state of things in YVR.

#55 CEW9 on 05.09.19 at 7:24 pm

Just over 100 years ago the millenials of the day uprooted their lives and fled the over-priced land of the “old country” and came to this new land of plenty we call Canada.

If you think moving across a provincial boundary is too much of a sacrifice, remember them.

We have to follow opportunity; it doesn’t come chasing us.

#56 Victoria Real Estate Update on 05.09.19 at 7:32 pm

# 29 Brian Ripley

Clearly you lack an understanding of what overvaluation is.

Your numbers: Number of wage earners required to purchase a detached home in Montreal: 0.7….

That is at today’s near historically (emergency) level interest rates.

In order for you to prove Montrral’s housing market isn’t extremely overvalued you would have to compare that number, 0.7, to previous years with interest rates held constant at the same level.

This would show how extremely overvalued Montreal’s housing market has become in recent years (since 2000 for example).

Use an interest rate of 6.5% and do the same calculations you used to get Montrral’s 0.7 this year for every 5 years going back to 1990 for example.

This would show how house prices have skyrocketed in Montreal since 2000, for example, and how incomes have barely budged over the same period (the definition of a housing bubble).

#57 Dolce Vita on 05.09.19 at 7:35 pm

#35 The Wet One

Bang on.

Why there is so much tax evasion in Italia with a minimum MTR of 25% vs. Canada’s 15% and a humongous VAT of +20%.

Say what you will about Canada…it has a heart for its low wage earners. Gives them a chance to get ahead, a helping hand by taking fewer taxes from them.

Deeds and actions speak louder than words.

Pluralism, writ large.

That’s the Canada I grew up in and am proud to say to my fellow Italians (well, except for the odd Italian eye roll you get when you tell them who’s in charge in Ottawa, then again they have Berlusconi – nobody’s plate is ever clean…look at Deutschland with German Hillary).

#58 Flop... on 05.09.19 at 7:48 pm

Flop’s Deal of the week.

O.k I’m ready for another bum kicking.

We can show a bunch of old crap for sale or ones that have recently sold but bang for buck wise, I believe this house in Richmond is a contender.

The details…

22180 Sharpe Avenue, Richmond.

Built in 2006

1700sq ft.

Been for sale since January.

Asking 988k.

They don’t want to come off the assessment number and being one of the newer houses in Greater Vancouver under a million I can’t really blame them.

Richmond is the only city in the Inner Ring where you can get a decent house built in the last 30 years at this stage of the correction.

925k might get it done…

M44BC

https://www.zolo.ca/richmond-real-estate/22180-sharpe-avenue

#59 Flop... on 05.09.19 at 8:03 pm

Don’t worry about the Teranet lag, below is me reporting on the house on McLean Drive back in early February this year.

Some of you guys got an armchair ride and shat in my face.

Media to Flop lag….3-6 months…

M44BC

#130 For those about to flop… on 02.06.19 at 11:39 am
Race to 900k

I’ve seem it a few times but so far I have resisted reporting on this ugly duckling, but since they took 150k off, and it is now sub 1 mill, we might as well see how low it goes for.

The details…

1113 Mclean Dr,Vancouver

Originally asking 1.13

Now asking 988k

Assessment 1.09

No one goes to bed at night dreaming about buying a place like this, but now they are in a position to make a sale and someone will snap it up at some stage, such is the cost of living here.

They appear to be looking for a guy with a bulldozer, but although no interior shots provided, the exterior of the house doesn’t appear totally rotten for its age.

Could go either way at that price, could be levelled, could end up being owned by a couple of hipsters that try to keep it nice and Mclean…

M44BC

https://www.zolo.ca/vancouver-real-estate/1113-mclean-drive

#60 Canadorks on 05.09.19 at 8:09 pm

Real estate in Canada is simply overpriced, everywhere. It’s only a matter of by how much. Comparing Halifax and Montreal to the obscenities of YVR and the GTA is just plain dumb and walking around in a state of delusion and denial. Of course it’s going to seem reasonable by comparison. Almost anywhere on earth would be. But prices almost everywhere have more than tripled in the past 15 years as well. Heck, even the head of the CHMC plainly stated that housing is overpriced from coast to coast on BNN. Imagine that!!! Of course he couldn’t see that the mandate of his warped institution is a major cause.

$400K + to live in a half decent home Halifax, seriously? Those resemble GTA prices of less than 10 years ago. How is that some kind of redemption for sideliners?

A crash is required for prices to make sense. Of course, that will bring on a world of hurt on so many levels.

Italy sounds great right now, lol. Ciaoooooooo!

#61 The Real Mark on 05.09.19 at 8:12 pm

“#2 Dave on 05.09.19 at 4:33 pm
Money laundering in over $5B in BC and NDP are putting one last nail in the real estate coffin. “

Most likely fake news. Money laundering can’t influence one set of asset prices (ie: real estate) to the exclusion of all others. If ‘money’ was laundered into BC, it would’ve had to have shown up in areas other than RE. After all, what did the sellers of RE to the so-called ‘launderers’ do?

Glow-Bull has really been pushing the fake “money laundering, foreigners with money” narrative, but they really have little to no evidence. Which is unfortunate because it is basically pushing a veiled narrative of racism towards a specific ethnic group, nearly all of whom, if successful and own assets in Canada, did so with their hard work and savings in Canada. It might get them “ratings”, but its absolutely and utterly disgusting, and Glow-Bull (fake) “News” should be ashamed.

#62 Dolce Vita on 05.09.19 at 8:14 pm

#48 TalkingPie

Déjà vu.

That was me 30 years ago. Home was only 2,000 sq. ft. in an AB estate area (single at the time). Everything was a few minutes drive away like you. Also flew a Cessna 172 (amazed they are still flying them, nice easy plane to fly until you get an upward wind burst landing at Springbank just outside of Calgary – not fun).

That left curve:

T1’s Windfall Profits Tax aimed squarely at the Blue Eyed Arabs of AB. Last person out of Calgary, please turn the lights off was the byword back then.

Nice post. Brought back some fond memories. Thank’s for that.

Home is where the heart is. So true.

#63 Eye of Hurricane on 05.09.19 at 8:36 pm

I Just listened to the AG in BC talk about the rules they are bringing in immediately to combat the out of control crime in BCRE.

Appears they ain’t taking this lightly anymore in BC and the boom is about to drop. Seems necessary but it is absolutely going to cut the legs off the BC housing sector. #messy.

#64 crowdedelevatorfartz on 05.09.19 at 8:37 pm

@#42 Long live easy SNC Money

“This issue will be on the front page for a few weeks but will fade away with time….”

*****

Jody Wilson Who?

#65 Ronaldo on 05.09.19 at 8:39 pm

We finally arrived. Time to review once again.

https://www.youtube.com/watch?v=hqOn5XEm86A

#66 Spec Tax Information in BC on 05.09.19 at 8:43 pm

It was mentioned today in the briefings that the spec tax information is already being cross shared with the CRA.

Well, at least we now know the real reason for the spec tax in BC and as law abiding citizen, I commend the authorities for doing this. Crime destabilizes society when is runs rampant and they need to reign it in to salvage anything that is left of the province. In a down year like 2018 when 10% of sales volume is coming from criminals you can only imagine what an up year like 2015 was like for the amounts rolling in. The scale of this is unreal.

#67 dutch4505 on 05.09.19 at 9:04 pm

Live in Quebec for 8 months and 4 months in Florida. Perfect for retirement. Toronto and Vancouver are both over rated.

#68 Frank N Beans on 05.09.19 at 9:13 pm

Another gem is Sudbury. CBCs Paul Kennedy recently spoke of it in the context of it’s amazing reclamation efforts and now clean lakes. I’m 34, so definitely a ‘moister’ by your account. I’ve lived in Sudbury for 8 years and love it. Moved here for work. I have an excellent job and only owe 100k on my primary residence, a 4 bedroom 2 bath w a detached garage. I also own a rental property, a duplex I paid $190k for and no, it’s not a piece of crap. It’s been fully rented for 3 years with smart young moisters who are quietly paying off my mortgage.
Ya. The winters are cold, but that’s why you need to buy cross country skis and enjoy the trails that are only minutes from the city. Or… you could continue to drive an hour and a half whatever to Hardwood or Collingwood. Whatever. Your choice.

There is no such thing as bad weather, only bad clothing.

#69 IHCTD9 on 05.09.19 at 9:14 pm

#37 JacqueShellacque on 05.09.19 at 6:12 pm
With all due respect to the lifestyle set, there’s a reason these places are called hinterlands (from the German for ‘land behind’). As someone from the hinterlands (N. Ont), you only want to live there if you have a social circle and have the means to get away a few times a year. I have no doubt that Quebec City and Fredericton and Flin Flon have their charms. It’s just that if these were more livable places, more people would live there. If a 4-bedroom house isn’t worth the debt in Van or GTA, it sure as hell isn’t worth living in Saskatoon
———-

I wouldn’t call Quebec City a backwater, with 700 thousand people. 7th largest city in Canada. Must be something at least somewhat good there no?

#70 acdel on 05.09.19 at 9:20 pm

Yeah, I will pass on the offer. Longer winters; $600 hydro bills coming from a province that practically gives it away to the Yanks.

Bring on South of France in a few years! Nope, will not let the door hit me in the ass on the way out; just cannot wait, the sooner the better!

#71 Kat on 05.09.19 at 9:23 pm

We were planning Halifax but if it is jumping too what’s the point.

#72 IHCTD9 on 05.09.19 at 9:29 pm

#44 Penny Henny on 05.09.19 at 6:41 pm
#23 MF on 05.09.19 at 5:38 pm
As others have said, that’s a no from me.

Nice place but the harsher winter is a big draw back. I would rather spend more and leave in Toronto (serious).

MF
//////////////

leave in Toronto?
Freudian slip?
No mention of the Phillippian girlfriend lately, single again?
———-

I’d die of boredom living in Toronto, but I’m totally down for the beautiful Filipina ladies :).

Also interested MF, been a while since you’ve mentioned her.

#73 La Belle Florida on 05.09.19 at 9:37 pm

#67 dutch4505 on 05.09.19 at 9:04 pm

Live in Quebec for 8 months and 4 months in Florida. Perfect for retirement. Toronto and Vancouver are both over rated.
..

St. Hubert, poutine, michigan et toute garnie…. and speedos.. are well represented dans la belle province de sud

#74 Canadian in LA on 05.09.19 at 9:41 pm

Sorry Garth. Disagree. Just like stocks, buy quality. Just because it’s cheap doesn’t make it good value. The connections, opportunities and network of people in world class cities make it worth the price tag. Your advice shouldn’t be save money but figure out how to make more.

#75 ImGonnaBeSick on 05.09.19 at 9:47 pm

#37 JacqueShellacque on 05.09.19 at 6:12 pm

That’s ridiculous… You’re allowed to make new friends with new neighbours… Saskatoon is not a deserted island you nervous Nelly… I would say that the house in Laval is well worth it compared to that piece of crap in Vancouver. Citidiots are afraid of their own shadows…

#76 ImGonnaBeSick on 05.09.19 at 9:57 pm

#49 kommykim on 05.09.19 at 6:58 pm

You don’t find it a bit annoying that Quebec is touting surplus budgets all the while receiving $12B ($13B in 2019) in equalization payments? Literally 7x more than the next province! I find that annoying.

#77 Preacher Paul on 05.09.19 at 9:58 pm

#44 Penny Henny on 05.09.19 at 6:41 pm
#23 MF on 05.09.19 at 5:38 pm

“No mention of the Phillippian girlfriend lately, single again?”

Would this girlfriend be a biblical girlfriend as in The Book of Phillippians or do you mean a Filipino girlfriend?

#78 Al on 05.09.19 at 10:01 pm

@Ryan – Ottawa exploded? Lol .. Singles under 600k are a dime a dozen in Nepean and Gloucester in great condition and locations.

#79 IHCTD9 on 05.09.19 at 10:14 pm

#74 Canadian in LA on 05.09.19 at 9:41 pm
Sorry Garth. Disagree. Just like stocks, buy quality. Just because it’s cheap doesn’t make it good value. The connections, opportunities and network of people in world class cities make it worth the price tag. Your advice shouldn’t be save money but figure out how to make more
———-

Median household income in Toronto is 78k

Median household income in Vancouver is 72k

Houses in both cities cost a million to start.

Median household income in my trailerhood is 67k

Brand spanking new house in town is 400k

So much for networking, making money, and buying value.

#80 Al on 05.09.19 at 10:20 pm

From the CBC BC money laundering article :

“The panel also suggests a drastic new measure that would build upon B.C.’s criminal and civil forfeiture system, known as unexplained wealth orders. This would allow the government to confiscate property when there is no evident legitimate source for the funds to purchase it — even if there is no evidence of criminal activity.”

Wonder if a property owned by a shell company owned by another shell company, say in Nevada (or other tax haven’s in the USA or carribean), would be considered as a “legitimate” source as the actual owners are unknowable. Ats they say, the devil is in the details.

#81 greyhound on 05.09.19 at 10:22 pm

How about that Vice-Admiral Mark Norman? Looking forward to blog commentary…

#82 tccontrarian on 05.09.19 at 10:24 pm

“The 109-year-old mini-house sits on 25 feet of dirt across from a school, beside an apartment building. Yes, it’s also crap. And the people who bought it better not think it was a great deal since the owner paid $330,000 just four years back.”
////////////

Good God! I wouldn’t live in it if they offered it to me for free!

I’ll also wager that in 2-3 years time, it will be back on the market for $500k, or less!

TCC

#83 The Real Mark on 05.09.19 at 10:24 pm

“T1’s Windfall Profits Tax aimed squarely at the Blue Eyed Arabs of AB. Last person out of Calgary, please turn the lights off was the byword back then.”

Looking back, Trudeau (Sr.) actually, through discouraging additional investment at the top of the cycle, preserved the relative health of the industry and prevented an even deeper Alberta crash. As oil went on to have very poor pricing basically for the next 20 years.

Has the younger Trudeau done the same? Perhaps. Given that producers are clearly overinvesting in production to such an extent that WCS pricing collapsed to well beneath the cash costs of most producers, its pretty obvious market forces weren’t properly attenuating investment. Of course, eventually all the shareholders money will be blown by junior and mid-tier oil execs, and they’ll all lose their jobs, but the blame for the state of Alberta’s oil industry definitely doesn’t belong with the present Trudeau government.

My prediction: Kenney wrote a lot of cheques, figuratively, that he’s going to have a heck of a lot of difficulty cashing. And if he can’t use Trudeau as a boogeyman, he might just end up being a one-termer like Notley.

#84 David on 05.09.19 at 10:26 pm

Moving to Quebec is insane on just about every metric. And the people are not warm, especially to Anglos.

I’ve told my kids to go to the States. Way more options and nicer people and weather.

#85 Ustabe on 05.09.19 at 10:27 pm

#40 IHCTD9 on 05.09.19 at 6:18 pm

Since last year I’ve noticed an influx of non white visitors showing up here in the hinterland, except they’re not visiting, they are moving in. They are building/buying gas stations, restaurants, convenience stores and various franchised businesses and putting their families to work.

Last year Mrs. Ustabe and I traveled across Canada and back via the hinterland roads…Red Coat Trail, Souris River Valley, etc. Half the time my cell phone thought I was in the US.

It is as you describe all across the Prairies, certainly in the boonies, and in Northern Ontario. Long abandoned C store, road side fuel stations, etc being opened back up by recent arrivals to both the area and to Canada.

They not only are they putting their families to work, they are hiring local kids to man the register and are breathing life into small, rural communities abandoned by the previous occupants.

#86 Glenn Leong on 05.09.19 at 10:37 pm

There is nothing racist about highlighting facts. Fact: most mass shootings in the United States are committed by white people. There is absolutely nothing racist about that comment. Fact: billions of illegal money has made its way from China into the B.C. (and more specifically, Vancouver) residential property market each year for the last several years. There is absolutely nothing racist about that comment.

The increase in the number of Chinese people coming to the province has greatly enhanced certain aspects of the quality of life for all people in Vancouver and British Columbia. That is my opinion. However, it is also my opinion that illegal money from Chinese criminals has greatly impacted most British Columbians’ quality of life in a negative way by pushing real estate prices to completely illogical levels over the past two decades. And the aftermath will hurt people even more as housing prices crash and many families declare bankruptcy as a direct result.

#87 Vanreal on 05.09.19 at 10:38 pm

You have to think about quality of life people. The weather in the east and on the prairies sucks! Let’s face it anywhere in Canada except a tiny corner of BC is terrible. I grew up in a Montreal Toronto and Ottawa and you couldn’t pay me to go back now that I’ve experienced Vancouver. I couldn’t live anywhere else period. It’s not just the winter, the summer also is gross with the humidity and heat.

#88 Kenny H on 05.09.19 at 10:40 pm

$600 hydro bills! That is insane.

#89 ChrisfromCalgary on 05.09.19 at 10:43 pm

#49 kommykim
I think a little perspective is required in your comment:
2019-2020 5 provinces will receive 19.619 billion
Quebec receives 13.124 billion
2018-2019 6 provinces received $18.958 billion
Quebec received $11.732 billion
2017-2018 6 provinces received 18.254 billion
Quebec received 11.081 billion
2016-2017 6 provinces received 17.880 billion
Quebec received 10.030 billion
2015-2016 6 provinces received 17.341 billion
Quebec received 9.521 billion
These 5 years Quebec received $55.488 billion in transfer payments.
In one year 2016 Alberta sent out 21.8 billion

From this Quebec gets cheap child care (and a host of other benefits)
So here’s a question for you. If a person always received a yearly income guaranteed why should they try and work extra hard to develop industry and natural resources?
What would happen if Quebec did not receive these billions of dollars in transfer payments?
If the rest of Canada treated Quebec like they do to Alberta would Quebec still be here?
Food for thought:
Alberta just had a provincial election. Almost 70% of the electral voters voted. When was the last time that occurred in Canada? Do you not think Albertans aren’t furious on how they have been treated by Canada and Canadians. Currently we have T2 in Ottawa but we have Lougheed 2 in Alberta. We remember NEP from T1. Look up Lougheed 1980.

#90 Pierre on 05.09.19 at 10:54 pm

DELETED

#91 IHCTD9 on 05.09.19 at 10:58 pm

Here is Matthieu’s original piece:

https://solongtoronto.wordpress.com/2018/02/19/so-long-toronto/

So reading thru it, a few things are evident

1. This cat ain’t stupid, he saw the gta insanity for what it is. FOMO never hit the stage, an exit plan was made and executed. He learned his lessons from his time in LA during the GFC well.

2. Family Man, young families have it the worst in a place like the gta. 2k/mo. for daycare, and a Mil to own dirt.

3. Guy was raised in PQ, so he already knew the territory and the potential.

M’s family is part of the latest trend, that being young families bailing out of cities like Toronto and Vancouver which are not young family friendly. The childless and the elderly may find a home in places like Toronto, but the city doesn’t pay nearly enough to make ends meet, or provide the stability required for raising kids.

I’m betting this movement will continue…

#92 not 1st on 05.09.19 at 11:15 pm

Enjoy your equalization Matt. Wont be around much longer. Transfers not permitted from new nations.

#93 Guy in Calgary on 05.09.19 at 11:26 pm

Moving to Calgary from the GTA is the best financial, professional and personal decision me and my wife ever made. We are millennials. Found similar gigs that pay more, bonuses are way cheaper and the lifestyle is slower. Also lovely getting to the mountains to bike, ski, camp and hike as much as possible. Whenever I visit family back home in the gta I cant wait to get back so I can breathe again.

#94 Re-Cowtown on 05.09.19 at 11:38 pm

#49 kommykim on 05.09.19 at 6:58 pm
#16 Re-Cowtown on 05.09.19 at 5:19 pm
Day care paid for by Alberta. You’re welcome.

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

Typical Albertan attitude.
British Columbia, Saskatchewan, Newfoundland and Labrador also contribute to equalization payments for the rest of the country. But no… Alberta pays for EVERYTHING and is SO hard done by. You’d think that if Albertans were so busy making money and paying taxes that there would be no time for them to whine online about how unfair everything is. Give it a rest.

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

Alberta’s equalization contributions over the years are exactly equal to Quebec’s withdrawals. Cry as much as you like but Alberta has been subsidizing the lifestyle of Quebec for decades.

Math is hard.

#95 Home is where the internet is on 05.09.19 at 11:45 pm

I bid 10% less on a 2100 sqft house in Whistler 5 years ago and won. My job isn’t tied to a location either. Best thing I ever did. City life isn’t the best for the little ones either and frankly I don’t miss it.

#96 Vampire studies (post grad) on 05.09.19 at 11:54 pm

68 frank and beans – good on ya. I bet there’s a few more “gems” too. Many from previous generations would consider Sudbury a great place to live and raise a family. Most millennials treat them like the plague.

Maybe VREU would like it there…..

#97 Ponzius Pilatus on 05.09.19 at 11:58 pm

#43 Dolce Vita on 05.09.19 at 6:34 pm
#1 Stan Brooks

THAT was funny. I liked the piano player “chick” (sorry, couldn’t resist). Indeed, there are some talented Canadians out there with a gift for the sublime.

———————————————————

Well Garth, now I know what you mean by HOUSE PORN. Read Junior’s take on his home and it read like an artsy magazine review of Michelangelo’s “Pietà”.

I was probably like that too when I was young. Now, as long as the roof doesn’t fall in over my head, I couldn’t care less.

Age does temper you.

Well, then there’s you Garth renovating Nova Scotia and Ontario forest primeval, 1 business, historic property at a time.

Vive la différence…what makes the World all that more an interesting place to live in.
————
Dolce,
Stop sucking up and go back to your moms basement in Burnaby

#98 Ponzius Pilatus on 05.10.19 at 12:08 am

That’s the Canada I grew up in and am proud to say to my fellow Italians (well, except for the odd Italian eye roll you get when you tell them who’s in charge in Ottawa, then again they have Berlusconi – nobody’s plate is ever clean…look at Deutschland with German Hillary)..
—————
Dolce,
You are losing it.
Merkel is a 3 time Chancellor, who pretty much shaped the EU.
Hillary was never elected to anything.
Back to you moms basement.

#99 jane24 on 05.10.19 at 1:44 am

I have often wondered why folk don’t move to cheaper and nicer spots in Canada and there are many choices. Is it that those ties to family and friends are so strong or that they just don’t think about it. My sister lives in Edmonton and calls regularly to complain about snow flurries in May or Sept and when I point out she has a EU passport and she should move, she never really has an answer.

When I fly to Canada from the UK on clear days the plane passes right over Newfoundland and you can often see right down to tiny roads and tiny houses on a large barren rock island. I always ask myself why live there? I have been to many beautiful islands in the world – Hawaii, the Azores, the Isle of Wight, that these island loving people could live on but no, they want to live on that barren rock. Why? One assumes because they always have.

#100 Smoking Man on 05.10.19 at 1:57 am

In the desert trying to rescue lost rattle snakes that work for star bucks, and this is on, cranked at full volume on the ear buds.

https://youtu.be/mIBTg7q9oNc

#101 MaxBerniersShorts on 05.10.19 at 4:00 am

$600 a month for hydro?! And it’s probably just as bad when you have to run a/c in the humid Central Canadian summer. No thanks, pass.

#102 Howard on 05.10.19 at 5:36 am

#49 kommykim on 05.09.19 at 6:58 pm
#16 Re-Cowtown on 05.09.19 at 5:19 pm
Day care paid for by Alberta. You’re welcome.

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

Typical Albertan attitude.
British Columbia, Saskatchewan, Newfoundland and Labrador also contribute to equalization payments for the rest of the country. But no… Alberta pays for EVERYTHING and is SO hard done by. You’d think that if Albertans were so busy making money and paying taxes that there would be no time for them to whine online about how unfair everything is. Give it a rest.

———————————-

kommykim to Alberta : “Just shut up and give me my cheque!! Momma needs a new pair of shoes.”

#103 Howard on 05.10.19 at 6:00 am

#96 Ponzius Pilatus on 05.10.19 at 12:08 am
That’s the Canada I grew up in and am proud to say to my fellow Italians (well, except for the odd Italian eye roll you get when you tell them who’s in charge in Ottawa, then again they have Berlusconi – nobody’s plate is ever clean…look at Deutschland with German Hillary)..
—————
Dolce,
You are losing it.
Merkel is a 3 time Chancellor, who pretty much shaped the EU.
Hillary was never elected to anything.
Back to you moms basement.

————————————–

Hillary was elected Senator for New York twice.

#104 under the radar on 05.10.19 at 6:03 am

My brother left Toronto about 5 years ago and now farms in PEI on about 100 acres . Idyllic spot for about a week for me. He has no regrets, then again he never gets to leave the farm. To each their own…

#105 Captain Uppa on 05.10.19 at 6:46 am

There are pros and cons to every single parcel of space on this planet.

Why are we arguing over where is better? People have different personalities and what they covet or value over other things. Different life situations as well.

Enough with “this place is overrated” and “this place is the best” and “this place sucks”.

Just live where you want to live and stop whining. If it’s expensive where you live and that’s a big deal to you, move. No crash is coming so you better decide soon.

#106 The Real Mark on 05.10.19 at 6:53 am

“#85 Glenn Leong on 05.09.19 at 10:37 pm
There is nothing racist about highlighting facts… Fact: billions of illegal money has made its way from China into the B.C. (and more specifically, Vancouver) residential property market each year for the last several years.”

The big problem with such claim is that its simply not true. Vancouver’s housing bubble is perfectly explainable in the context of domestic leverage. And it is simply impossible that “money” could flow in from overseas to such an extent without it showing up in the balance of trade, or even in the accumulation or disaccumulation of foreign reserves not explained by trade or capital flow balances. Also if there was this massive foreign investment in Canada, it could not possibly be confined to a single asset class, real estate. It would have to show up in a much broader spectrum of assets and even incomes, which it most certainly has not.

There was once a famous person associated with a notorious regime who stated, paraphrased: “repeat a lie often enough and people will start believing it as truth”. I think that phrase is quite apt here, people desperately trying to defect blame from Canada’s leverage and credit bubble are going absolutely out of their way to blame “foreigners” or non-existent “money launderers” for conditions in asset prices that are entirely domestic in nature.

#107 oh bouy on 05.10.19 at 7:01 am

@#100 Howard on 05.10.19 at 5:36 am
#49 kommykim on 05.09.19 at 6:58 pm
#16 Re-Cowtown on 05.09.19 at 5:19 pm
Day care paid for by Alberta. You’re welcome.

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

Typical Albertan attitude.
British Columbia, Saskatchewan, Newfoundland and Labrador also contribute to equalization payments for the rest of the country. But no… Alberta pays for EVERYTHING and is SO hard done by. You’d think that if Albertans were so busy making money and paying taxes that there would be no time for them to whine online about how unfair everything is. Give it a rest.

———————————-

kommykim to Alberta : “Just shut up and give me my cheque!! Momma needs a new pair of shoes.”
_______________________________________

Alberta: the petulant child of Canada.
Quebec: the spoiled child of Canada.

#108 the Jaguar on 05.10.19 at 7:12 am

#8 Montreal Local on 05.09.19 at 4:58 pm

Thank you for your post. Very informative and interesting.

#109 Tater on 05.10.19 at 7:56 am

#16 Re-Cowtown on 05.09.19 at 5:19 pm
By the way, Montreal is a larger real estate market than Vancouver, arguably home to some of the country’s most unique culture. Plus $8-a-day child care.

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

Day care paid for by Alberta. You’re welcome.
————————————————————-

https://nationalpost.com/news/canada/of-course-alberta-is-getting-fleeced-by-ottawa-just-not-in-the-way-you-think

#110 jess on 05.10.19 at 8:02 am

ukraine

Yovanovitch, who was outspoken about the need to crack down on corruption in the country, was thrust into the spotlight in March when Ukraine’s top prosecutor claimed, without evidence, that the ambassador had outlined a list of people he should not prosecute when he first met her. The U.S. State Department called the claim by Ukrainian Prosecutor General Yuriy Lutsenko an “outright fabrication.” In April, he walked back the statement in a separate interview.

Lutsenko’s allegations about Yovanovitch came two weeks after she issued scathing remarks about Ukraine’s anti-corruption efforts and called on the authorities to fire special anti-corruption prosecutor Nazar Kholodnytsky. In wiretapped phone conversations, Kholodnytsky allegedly coached suspects on how to avoid corruption charges.
==============

Ukraine Prosecutor General Lutsenko admits U.S. ambassador didn’t give him a do not prosecute list 09:40, 18 April 2019 Politics 2019 0 Lutsenko shared details about his meeting with the U.S. ambassador way back in 2017.

Read more on UNIAN: https://www.unian.info/politics/10520715-ukraine-prosecutor-general-lutsenko-admits-u-s-ambassador-didn-t-give-him-a-do-not-prosecute-list.html
==========

U.S. Ambassador to Ukraine Recalled in ‘Political Hit Job,’ Lawmakers Say
Marie Yovanovitch stepping down as ambassador follows attacks from both right-wing media figures in the United States and a senior Ukrainian official.
By Robbie Gramer, Amy Mackinnon | May 7, 2019, 12:09 PM

https://foreignpolicy.com/2019/05/07/us-ambassador-to-ukraine-recalled-in-political-hit-job-lawmakers-say-marie-yovanovitch-lutsenko-right-wing-media-accusations-congress-diplomats-diplomacy/

=================================
Lutsenko made his claim against Yovanovitch in an interview with Hill.TV’s John Solomon, which aired on March 20. That same day, the Hill published two further pieces based off what appears to be the same interview with Lutsenko, in which the prosecutor said he had opened a probe into alleged attempts by Ukrainian law enforcement to tip the 2016 U.S. presidential election in favor of Hillary Clinton by leaking financial ledgers with details of payments made to Trump’s former campaign chairman Paul Manafort by former Ukrainian President Viktor Yanukovych.

Coming weeks before special counsel Robert Mueller published his report on Russian election interference in the 2016 election, Lutsenko’s allegation about Ukrainian interference was seized upon by Trump and his personal lawyer Rudy Giuliani, with the president tweeting out the headline to the Hill article, “John Solomon: As Russia Collusion fades, Ukrainian plot to help Clinton emerges.”

Yovanovitch then faced a slew of criticism from Fox News personalities and other right-wing media figures, who accused her of denigrating the president in private conversations. In March, Fox News host Laura Ingraham said that former Republican Rep. Pete Sessions sent a letter to Pompeo in May 2018 calling for the “expulsion” of Yovanovitch as ambassador to Ukraine “immediately.” The then-congressman said that he had evidence the ambassador had been critical of the Trump administration in private, though the current and former U.S. officials who spoke to Foreign Policy say that claim was unfounded.

The president’s son Donald Trump, Jr. tweeted about the claims circulating on Fox News in late March, linking to an article from the right-leaning Daily Wire on the claims against Yovanovitch. “We need more ⁦@RichardGrenell’s and less of these jokers as ambassadors,” he wrote, referring to Trump’s ambassador to Germany, Richard Grenell, who has been an outspoken political supporter of the president and caused friction with Berlin over his handling of disagreements on trade and the Iran nuclear deal.

https://foreignpolicy.com/2019/05/07/us-ambassador-to-ukraine-recalled-in-political-hit-job-lawmakers-say-marie-yovanovitch-lutsenko-right-wing-media-accusations-congress-diplomats-diplomacy/
===============================================

https://mediabiasfactcheck.com/the-daily-wire/
Analysis / Bias

The Daily Wire presents news with a right wing bias in reporting and wording. For example headlines are usually sensational and utilize strong emotional language such as this: Democrats Boo God. Then They Quote The Bible To Attack Trump.

Virtually every story favors the right and denigrates the left. The Daily Wire has also published some false information such as these and this directly from Ben Shapiro. Further, a factual search reveals that the Daily Wire, on a whole, has a mixed track record with fact checkers.
https://www.snopes.com/tag/daily-wire/

The Daily Wire has published a number of articles doubting that climate change is occurring and that humans contribute to climate change. Climate scientists have described the articles as inaccurate and misleading.[15][16][17]

#111 Steven Rowlandson on 05.10.19 at 8:03 am

That $900,000 dodgy shack in Vancouver is only worth $20,000 if it is worth anything at all. Not only am I saying the Emperor is naked I am also saying that his fans for are cuckoo! The prices of homes have a long way to fall before they are affordable.

#112 crowdedelevatorfartz on 05.10.19 at 8:12 am

@#97 jane two four

” When I fly to Canada from the UK on clear days the plane passes right over Newfoundland and you can often see right down to tiny roads and tiny houses on a large barren rock island. I always ask myself why live there? I have been to many beautiful islands in the world – Hawaii, the Azores,…….”

+++++

Perhaps they dont want to run the “one in a million” risk of having you as their ceaselessly bragging, pretentious neighbour?

#113 crowdedelevatorfartz on 05.10.19 at 8:16 am

Ponzie Pilot

You seem to have a weird infatuation with “living in Mom’s basement”.

Jealousy?

#114 crowdedelevatorfartz on 05.10.19 at 8:24 am

@#73 La Belle Florida

“and speedos.. are well represented dans la belle province de sud….”

*****

Ahhhh yes.
Speedos on 50 year old, fat, male francophones, (shudder) standing on a beach in Florida.

Reminds me of the St. Petersburg newspaper I saw years ago at the beginning of the winter snowbird tourist invasion.
The newspaper had a huge photo on the front page.
It was of a scantily clad, obese man in a speedo…the headline emblazoned across the top was ….
THEY’RE BAAAAACK!

#115 IHCTD9 on 05.10.19 at 8:43 am

#99 MaxBerniersShorts on 05.10.19 at 4:00 am
$600 a month for hydro?! And it’s probably just as bad when you have to run a/c in the humid Central Canadian summer. No thanks, pass.
___

$600.00/month for only three people can only mean electric heat. M can fix that easy – it’s probably near the top of the to do list.

If that includes all power requirements plus heat for a winter month, how is it too much? Look at your nat gas bill, or fuel oil and compare. Also amortize in a house bought at a 50% discount from the GTA. We have another case of infectious myopia on this blog. – Garth

#116 Tater on 05.10.19 at 8:52 am

#96 Ponzius Pilatus on 05.10.19 at 12:08 am
That’s the Canada I grew up in and am proud to say to my fellow Italians (well, except for the odd Italian eye roll you get when you tell them who’s in charge in Ottawa, then again they have Berlusconi – nobody’s plate is ever clean…look at Deutschland with German Hillary)..
—————
Dolce,
You are losing it.
Merkel is a 3 time Chancellor, who pretty much shaped the EU.
Hillary was never elected to anything.
Back to you moms basement.
—————————————————————
Well, she was elected to the Senate. So, now the question is are you too stupid to know that or just too invested in promoting your narrative to worry about facts?

It’s a trick question, you’re trash either way.

#117 SunShowers on 05.10.19 at 9:33 am

If that includes all power requirements plus heat for a winter month, how is it too much? Look at your nat gas bill, or fuel oil and compare. – Garth

———————————-

I dunno Garth, $600 seems obscenely high unless that house is 1500+ square feet and very poorly insulated.

I pay ~$150 per month (averaged per year, all power requirements AND natural gas) in the prairies, where you gotta run the AC in the summer because it’s 40 above, and crank the heat in the winter because it’s 40 below.

And QC has the lowest hydro rates in the country! Even if my bill wasn’t averaged throughout the year, I would never pay over $300 in a winter month, no matter how much natural gas I consume.

Did you just compare $150/month as an annual average with $600 for February? Fail. – Garth

#118 Boomer Bill on 05.10.19 at 9:36 am

#102 under the radar on 05.10.19 at 6:03 am

“My brother left Toronto about 5 years ago and now farms in PEI on about 100 acres . Idyllic spot for about a week for me. He has no regrets, then again he never gets to leave the farm. To each their own…”

Reminds me of a buddy who owns over 1000 acres in Ontario and has a milk operation that has him worth north of $10 million in assets. He is tied to his farm, despite I guess being able to get hired help to do all the work for him. He is always out in the barns on a Saturday afternoon when I pop in to visit him. 7 days a week…. No thanks.

#119 In Garth We Trust on 05.10.19 at 9:40 am

“If that includes all power requirements plus heat for a winter month, how is it too much? Look at your nat gas bill, or fuel oil and compare. Also amortize in a house bought at a 50% discount from the GTA. We have another case of infectious myopia on this blog. – Garth”

I don’t know how you keep this up Captain Garth. How some of your blog dogs don’t get it after all you have posted over the years makes you wonder… You are racking up some good karma trying to educate the masses in Canadian. Keep it up senor!

#120 Latka Gravas on 05.10.19 at 9:44 am

#110 crowdedelevatorfartz on 05.10.19 at 8:12 am
@#97 jane two four

” When I fly to Canada from the UK on clear days the plane passes right over Newfoundland and you can often see right down to tiny roads and tiny houses on a large barren rock island. I always ask myself why live there? I have been to many beautiful islands in the world –

“Perhaps they dont want to run the “one in a million” risk of having you as their ceaselessly bragging, pretentious neighbour?”

Now that’s a slam dunk retort if there ever was one! Touche!

#121 Smoking Man on 05.10.19 at 9:44 am

So stats Canada says Canada added 106,500
Jobs in April. A record….

Yet job openings stat hasent budged.

It’s an election year and as Warren Konsela said. T2 and his minions are the most corrupt govt in Canadian history.

#122 IHCTD9 on 05.10.19 at 10:23 am

#113 IHCTD9 on 05.10.19 at 8:43 am
#99 MaxBerniersShorts on 05.10.19 at 4:00 am
$600 a month for hydro?! And it’s probably just as bad when you have to run a/c in the humid Central Canadian summer. No thanks, pass.
___

$600.00/month for only three people can only mean electric heat. M can fix that easy – it’s probably near the top of the to do list.

If that includes all power requirements plus heat for a winter month, how is it too much? Look at your nat gas bill, or fuel oil and compare. Also amortize in a house bought at a 50% discount from the GTA. We have another case of infectious myopia on this blog. – Garth
___

I have zero heat+hydro bills over 375.00 in any month of the year. That’s in a house a couple light years away from efficient.

PQ heat is dirt cheap – M’s house must leak a sieve. Of course, if M is content with a couple bills per year in that range – that’s up to him – but I’d be doing something about it. Even if it is a temporary measure just for January and February.

Even if the package deal move saves him big over life in Toronto (100% it does), that’s a poor excuse to keep paying more when the fix is so easy.

When it comes to the costs of running a household, I’m probably the last guy on your blog to be calling near sighted…

Stop staring at your toes. – Garth

#123 Bonhomme Carnaval on 05.10.19 at 10:43 am

#4 Smartalox on 05.09.19 at 4:43 pm

Laval is serviced by three (3) métro stations and five (5) exo commuter train stations. It is easier and faster getting downtown from Laval than the West-Island or East-End.

In addition it will be getting two (2) REM stations (LTR) by 2023. Maybe more, studies are currently underway by CDP Infra.

It has been the one of the fastest growing municipalities in Québec for the past 10-12 years.

#8 Montreal Local on 05.09.19 at 4:58 pm

Anything ‘On-Island’ is done like diner. Overpriced by Montréal standards ; great luxury properties in Saint-Lambert, Brossard (Dix30) and Boucherville. If you can work from home, check out Bromont and Granby. Need easy access to the USA, Chambly & Saint-Jean-sur-Richelieu. Last, but certainly not least, Magog & Sherbrooke.

There’s more to (The Greater) Montréal area than Westmount, Outremont and The Plateau ; even Verdun and HoMa are out-of-reach!

Math is hard, but evidently so is geography…

#124 Tater on 05.10.19 at 10:48 am

#119 Smoking Man on 05.10.19 at 9:44 am
So stats Canada says Canada added 106,500
Jobs in April. A record….

Yet job openings stat hasent budged.

It’s an election year and as Warren Konsela said. T2 and his minions are the most corrupt govt in Canadian history.
—————————————————————–
Doesn’t matter how tight the labour market gets, no-one is hiring you.

And the idea that these numbers are manipulated for political gain is exactly the sort of nonsense we’ve come to expect from you.

#125 TalkingPie on 05.10.19 at 10:56 am

#99 MaxBerniersShorts on 05.10.19 at 4:00 am
$600 a month for hydro?! And it’s probably just as bad when you have to run a/c in the humid Central Canadian summer. No thanks, pass.
********************************************

Not even close. Our most expensive period was January-February, which was $850 over two months (ie: $425/month), and that’s heating with an electric furnace. August-September was less than $85/month with central A/C and an unheated above-ground pool. 2,700 sq ft house built in 1990 with attached double garage.

The previous owner averaged about $300/month year-round with two adult children in the house. That’s a little pricey, sure, but perfectly doable when your mortgage is $1,200.

#126 cramar on 05.10.19 at 11:09 am

Thurs. was a trip of a lifetime! To Hell and back in a single day. We went into the putrid bowels of Toronto. The opportunity was a rare meeting with son and grandson (there from SK. for a national high-school volleyball competition). The morning trip into Hell took the expected 5 hours from Leamington to University and Richmond. On the Gardner part of the journey we passed through the Gates of Hell—the towering forest of concrete redwoods, with balconies overlooking the Gardner with the associated sounds and scents of Hell. I think Dante labelled it Purgatory! I told my wife that each little condo box is worth more than our house and property where we actually can grow veggies and flowers that attract birds, butterflies and bees. Paradise vs Hell!

The trip outta Hell, leaving at the pinnacle of rush hour was as expected much more arduous. Seven hours total driving time! Contrast that with a flight time from Regina to Pearson of less than 3 hours! It took 3 1/2 hours just to get from downtown Hell to Hamilton hell. And that even with using the HOV lane on the QEW!

I kept remembering what my neighbour said who once did contracting work in Hell, “I wouldn’t live there if you gave me a free condo and a million dollars!”

#127 Russ on 05.10.19 at 11:27 am

IHCTD9 on 05.10.19 at 8:43 am

#99 MaxBerniersShorts on 05.10.19 at 4:00 am
$600 a month for hydro?! And it’s probably just as bad when you have to run a/c in the humid Central Canadian summer. No thanks, pass.
___

$600.00/month for only three people can only mean electric heat. M can fix that easy – it’s probably near the top of the to do list.

If that includes all power requirements plus heat for a winter month, how is it too much? Look at your nat gas bill, or fuel oil and compare. Also amortize in a house bought at a 50% discount from the GTA. We have another case of infectious myopia on this blog. – Garth
=============================

600 bucks to heat a house in the month of February doesn’t seem to be way out in left field for a place beyond Hope.

My well insulated 1500 sq ft home on Vancouver Island was $100 for power & $100 for natural gas charges for February 2019. But we also had 10 days of freezing temperatures so I expect it to be a tad higher than normal.

Cheers, R

#128 Gravy Train on 05.10.19 at 11:29 am

#23 MF on 05.09.19 at 5:38 pm
“As others have said, that’s a no from me. Nice place but the harsher winter is a big draw back. I would rather spend more and [live] in Toronto (serious).” I’ll leave you alone, MF, as you’ve been pilloried enough today. Garth, as the expression goes, you can lead a horse to water, but you can’t make it drink! :)

#74 Canadian in LA on 05.09.19 at 9:41 pm
“Sorry Garth. Disagree. Just like stocks, buy quality.” Warren Buffett once said, “Price is what you pay; value is what you get.”

“Just because it’s cheap doesn’t make it good value.” So let me get this straight: Are you saying you’d rather live in a hovel in Toronto than a mansion in Laval? It boggles the mind! :P

#129 JB on 05.10.19 at 11:56 am

#124 cramar on 05.10.19 at 11:09 am

Thurs. was a trip of a lifetime! To Hell and back in a single day. We went into the putrid bowels of Toronto. The opportunity was a rare meeting with son and grandson (there from SK. for a national high-school volleyball competition). The morning trip into Hell took the expected 5 hours from Leamington to University and Richmond. On the Gardner part of the journey we passed through the Gates of Hell—the towering forest of concrete redwoods, with balconies overlooking the Gardner with the associated sounds and scents of Hell. I think Dante labelled it Purgatory! I told my wife that each little condo box is worth more than our house and property where we actually can grow veggies and flowers that attract birds, butterflies and bees. Paradise vs Hell!

The trip outta Hell, leaving at the pinnacle of rush hour was as expected much more arduous. Seven hours total driving time! Contrast that with a flight time from Regina to Pearson of less than 3 hours! It took 3 1/2 hours just to get from downtown Hell to Hamilton hell. And that even with using the HOV lane on the QEW!

I kept remembering what my neighbour said who once did contracting work in Hell, “I wouldn’t live there if you gave me a free condo and a million dollars!”
…………………………………………………………………
Come back in two years and all of these condos will have lost at least up to 40% of their value. Snap them up, be a landlord. Anyone who buys a condo now is going to lose their shirt. The overpriced market in Toronto and the GTA has made these concrete boxes the only barely affordable place to live. The speculators who sub lease out and the rogue Air BNB types have contributed as well as some of the money laundering offshore types and criminal types not to mention the desperate millennials.
By my calcs a 40% cut from a modest $650K condo will yield about $390K when your done. Even at $390 who wants to live in one of these poorly designed rat traps.

#130 Smoking Man on 05.10.19 at 11:58 am

Tater on 05.10.19 at 10:48 am
#119 Smoking Man on 05.10.19 at 9:44 am
So stats Canada says Canada added 106,500
Jobs in April. A record….

Yet job openings stat hasent budged.

It’s an election year and as Warren Konsela said. T2 and his minions are the most corrupt govt in Canadian history.
—————————————————————–
Doesn’t matter how tight the labour market gets, no-one is hiring you.

And the idea that these numbers are manipulated for political gain is exactly the sort of nonsense we’ve come to expect from you.
……..

I’m not the only one thinking something fishy going on.

Avery Shenfeld from CIBC. “Its difficult to Understand how the job market can be performing so well when the rest of the economy is so weak in recent months “

#131 JB on 05.10.19 at 12:01 pm

#122 Tater on 05.10.19 at 10:48 am
#119 Smoking Man on 05.10.19 at 9:44 am
So stats Canada says Canada added 106,500
Jobs in April. A record….
Yet job openings stat hasent budged.
It’s an election year and as Warren Konsela said. T2 and his minions are the most corrupt govt in Canadian history.
—————————————————————–
Doesn’t matter how tight the labour market gets, no-one is hiring you.
And the idea that these numbers are manipulated for political gain is exactly the sort of nonsense we’ve come to expect from you.
………………………………………………………………….
I have to ask is Smoking Man a Canadian or American? He says he is in California, so what is the infatuation with Canadian politics in which he has not practical contribution? If I lived in Italy I would be concerned with the politics and economic consequences of where I currently reside. Not where I used to live.

#132 PastThePeak on 05.10.19 at 12:10 pm

#125 Russ on 05.10.19 at 11:27 am
IHCTD9 on 05.10.19 at 8:43 am

If that includes all power requirements plus heat for a winter month, how is it too much? Look at your nat gas bill, or fuel oil and compare. Also amortize in a house bought at a 50% discount from the GTA. We have another case of infectious myopia on this blog. – Garth
=============================

600 bucks to heat a house in the month of February doesn’t seem to be way out in left field for a place beyond Hope.

My well insulated 1500 sq ft home on Vancouver Island was $100 for power & $100 for natural gas charges for February 2019. But we also had 10 days of freezing temperatures so I expect it to be a tad higher than normal.
++++++++++++++++++++++++++++++++++

My first house in Ottawa 19 years ago was a FD 1800 sq.ft, and heating was an outdoor (air) heat pump + electric furnace. Electricity in those days was much cheaper then in ON – perhaps comparable to QC now.

The big bills in the dead of winter were about that – $500-$600 for a couple of months. But then much lower rest of the year (when heat pump did the work). My total electricity bill (remember – that is for everything – no other nat gas or oil) was less than $2K for the year. Natural gas is of course cheaper, but that was not bad. Now, you wouldn’t do that in Ontario today, but still ok for QC.

Don’t forget – once you go a bit further east than Port Hope, and move up away from Lake Ontario, it gets quite a lot colder in Dec/Jan/Feb for those of us in Ottawa, Montreal, Quebec City, and environs.

#133 oh bouy on 05.10.19 at 12:13 pm

@#124 cramar on 05.10.19 at 11:09 am
Thurs. was a trip of a lifetime! To Hell and back in a single day. We went into the putrid bowels of Toronto. The opportunity was a rare meeting with son and grandson (there from SK. for a national high-school volleyball competition). The morning trip into Hell took the expected 5 hours from Leamington to University and Richmond. On the Gardner part of the journey we passed through the Gates of Hell—the towering forest of concrete redwoods, with balconies overlooking the Gardner with the associated sounds and scents of Hell. I think Dante labelled it Purgatory! I told my wife that each little condo box is worth more than our house and property where we actually can grow veggies and flowers that attract birds, butterflies and bees. Paradise vs Hell!

The trip outta Hell, leaving at the pinnacle of rush hour was as expected much more arduous. Seven hours total driving time! Contrast that with a flight time from Regina to Pearson of less than 3 hours! It took 3 1/2 hours just to get from downtown Hell to Hamilton hell. And that even with using the HOV lane on the QEW!

I kept remembering what my neighbour said who once did contracting work in Hell, “I wouldn’t live there if you gave me a free condo and a million dollars!”
________________________________________

what are you, 7 years old?
Quit acting like a child.

#134 Pfft on 05.10.19 at 12:17 pm

@#114 Tater on 05.10.19 at 8:52 am
#96 Ponzius Pilatus on 05.10.19 at 12:08 am
That’s the Canada I grew up in and am proud to say to my fellow Italians (well, except for the odd Italian eye roll you get when you tell them who’s in charge in Ottawa, then again they have Berlusconi – nobody’s plate is ever clean…look at Deutschland with German Hillary)..
—————
Dolce,
You are losing it.
Merkel is a 3 time Chancellor, who pretty much shaped the EU.
Hillary was never elected to anything.
Back to you moms basement.
—————————————————————
Well, she was elected to the Senate. So, now the question is are you too stupid to know that or just too invested in promoting your narrative to worry about facts?

It’s a trick question, you’re trash either way.
______________________________

pot meet kettle

#135 IHCTD9 on 05.10.19 at 12:28 pm

#120 IHCTD9 on 05.10.19 at 10:23 am

Stop staring at your toes. – Garth

____

I’ll get right on that (once I figure out what it’s supposed to mean.).

#136 AGuyInVancouver on 05.10.19 at 12:30 pm

This all ignores the fact many people want to be able to spend Saturdays watching a live NHL game, or going to the symphony, or taking in MSL soccer or going to an art gallery…

Just sitting on the couch watching Hockey Night in Canada doesn’t cut it for a lot of people.

#137 kommykim on 05.10.19 at 12:54 pm

#93 Re-Cowtown on 05.09.19 at 11:38 pm
#49 kommykim on 05.09.19 at 6:58 pm
#16 Re-Cowtown on 05.09.19 at 5:19 pm

Alberta’s equalization contributions over the years are exactly equal to Quebec’s withdrawals. Cry as much as you like but Alberta has been subsidizing the lifestyle of Quebec for decades.
Math is hard.

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

It’s not me who’s crying about transfer payments. It’s funny how Albertans say “we are all Canadians” when it comes to building pipelines, but get all clutchy and greedy when talking about transfer payments.
Civilization is hard.

#138 IHCTD9 on 05.10.19 at 1:38 pm

#84 Ustabe on 05.09.19 at 10:27 pm
#40 IHCTD9 on 05.09.19 at 6:18 pm

Since last year I’ve noticed an influx of non white visitors showing up here in the hinterland, except they’re not visiting, they are moving in. They are building/buying gas stations, restaurants, convenience stores and various franchised businesses and putting their families to work.

Last year Mrs. Ustabe and I traveled across Canada and back via the hinterland roads…Red Coat Trail, Souris River Valley, etc. Half the time my cell phone thought I was in the US.

It is as you describe all across the Prairies, certainly in the boonies, and in Northern Ontario. Long abandoned C store, road side fuel stations, etc being opened back up by recent arrivals to both the area and to Canada.

They not only are they putting their families to work, they are hiring local kids to man the register and are breathing life into small, rural communities abandoned by the previous occupants.
_____

It’s kind of nice to see IMHO, when I think of immigration, I like to think that you’ve got at least a little mixing going on rather than the self segregation we see so often (in Ontario anyway).

The fact that they tend to be business folks means the area is getting some nice new gas stations, car washes, restaurants etc… Exceedingly friendly and polite bunch too. One new restaurant in town literally sells food at 90’s prices (like 7.99 for fish and chips), don’t know how they do it.

#139 Smoking Man on 05.10.19 at 1:43 pm

JB on 05.10.19 at 12:01 pm
#122 Tater on 05.10.19 at 10:48 am
#119 Smoking Man on 05.10.19 at 9:44 am
So stats Canada says Canada added 106,500
Jobs in April. A record….
Yet job openings stat hasent budged.
It’s an election year and as Warren Konsela said. T2 and his minions are the most corrupt govt in Canadian history.
—————————————————————–
Doesn’t matter how tight the labour market gets, no-one is hiring you.
And the idea that these numbers are manipulated for political gain is exactly the sort of nonsense we’ve come to expect from you.
………………………………………………………………….
I have to ask is Smoking Man a Canadian or American? He says he is in California, so what is the infatuation with Canadian politics in which he has not practical contribution? If I lived in Italy I would be concerned with the politics and economic consequences of where I currently reside. Not where I used to live.
……

Political junky + My kids are still trapped in commie Canada.

#140 IHCTD9 on 05.10.19 at 1:50 pm

#130 PastThePeak on 05.10.19 at 12:10 pm

Don’t forget – once you go a bit further east than Port Hope, and move up away from Lake Ontario, it gets quite a lot colder in Dec/Jan/Feb for those of us in Ottawa, Montreal, Quebec City, and environs.
___

I found this out last winter. I was up that way (near you?) in a little town by the name of Russell – a very nice little town – at least as viewed when dark.

It was 7 below when I left home, it was 15 below when I arrived at about 8:00 pm.

#141 Mr Nirp on 05.10.19 at 1:52 pm

Ooh brace yourself for the Poloz axe

https://business.financialpost.com/news/economy/newsalert-economy-adds-a-record-106500-jobs-in-april-unemployment-rate-dips

https://www.ctvnews.ca/business/canada-s-labour-market-surprises-with-record-breaking-employment-gain-1.4416790

https://www.bnnbloomberg.ca/canada-adds-record-106-500-jobs-in-april-1.1256985

https://business.financialpost.com/news/economy/newsalert-economy-adds-a-record-106500-jobs-in-april-unemployment-rate-dips

#142 Tater on 05.10.19 at 2:03 pm

#128 Smoking Man on 05.10.19 at 11:58 am
Tater on 05.10.19 at 10:48 am
#119 Smoking Man on 05.10.19 at 9:44 am
So stats Canada says Canada added 106,500
Jobs in April. A record….

Yet job openings stat hasent budged.

It’s an election year and as Warren Konsela said. T2 and his minions are the most corrupt govt in Canadian history.
—————————————————————–
Doesn’t matter how tight the labour market gets, no-one is hiring you.

And the idea that these numbers are manipulated for political gain is exactly the sort of nonsense we’ve come to expect from you.
……..

I’m not the only one thinking something fishy going on.

Avery Shenfeld from CIBC. “Its difficult to Understand how the job market can be performing so well when the rest of the economy is so weak in recent months “
————————————————————–
Avery’s a nice man, but even inside CIBC, no one thinks he’s terribly bright. Whenever he had a new piece out, he’d walk down the rows on the trading floor and drop printed copies on everyone’s desk. You could watch the traders and salespeople wait a tick and then pick it up and drop it straight in recycling. I always asked him to not give me one, and said I’d read the emailed version.

#143 SimplyPut7 on 05.10.19 at 2:08 pm

Why, he wonders, would anyone stay in Toronto where a slanty semi complete with icky bugs can easily cost seven figures. If your job’s portable, or online, or you create your own, and you want a house – why struggle in the GTA?

———————

That’s what I asked myself yesterday walking underground in Toronto near College Park trying to avoid the pouring rain, waiting for a subway train. The place smelled like sweat, urine and wet dog. The floor looked as gross as it smelled. The whole time I was was walking I kept repeating ‘Please don’t fall, please don’t fall’, thinking how would I get that mess out of my clothes.

The smallest condos at College Park cost more than a large detached house in the suburbs. I don’t get it. It’s a box you share with rats, roaches and Airbnb guests that care nothing about your building.

Is it really worth giving most of your income away to housing when you could have a better life outside of the city?

#144 Barb on 05.10.19 at 2:26 pm

Mattieu, they’re French Vikings *grin*.

Get a Pacific Energy or Blaze King woodstove, but first ensure old brick chimney has a new/inspected stainless steel liner. Hardwood (maple) firewood burns so nice and hot once seasoned that it’ll melt your slippers.

Sure, firewood costs money too, but floors/walls are warm and there are no dead zones where you freeze.
Presumably there are some plumbing pipes in exterior walls, which stay warmer with a firewood-heated home. You’ll wish you had when pipes freeze.
Modern woodstoves are so efficient, there’s negligible pollution.
We buy seasoned, split birch firewood for $220 a cord (stacked neatly 8’x4’x4′) and go through about 4 cords a winter in the Okanagan. Elec heat in our 70’s house NEVER is needed; our bill is $60 a month tops for light and hot water heater.

An acquaintance is installing a woodstove. He said his electric heat pump costs ridiculous amounts of hydro in both winter (heat) and summer (A/C) on his geothermal system.

Enjoy your Quebec life!
Unfortunately my only exposure to it was during the year or so preceding Bill 101. Several episodes weren’t all that pleasant, one taxi driver comes to mind.

But I did love the architecture.
The oldest building out here is a Midas muffler shop…sigh.

#145 IHCTD9 on 05.10.19 at 2:27 pm

#134 AGuyInVancouver on 05.10.19 at 12:30 pm
This all ignores the fact many people want to be able to spend Saturdays watching a live NHL game, or going to the symphony, or taking in MSL soccer or going to an art gallery…

Just sitting on the couch watching Hockey Night in Canada doesn’t cut it for a lot of people.
____

C’mon dude – all that stuff is a couple hours away for most folks living where paved roads are the norm. You’ve got a point if the City folks do this 2-3 times every week – but I doubt that’s the case.

Also, the sticks actually have their own plenty good venues themselves. Google up the “Westben”, it’s not too far from IHCTD9 headquarters. It’s literally a barn, but the talent is 1st rate.

We went to hear Handel’s Messiah a few Christmas’s ago – it was great even though we froze our ***** off watching. We went to another performance of misc popular pieces from Mozart, Bach, Handel, Rossini -AWESOME. Their William Tell Overture had my ears ringing and their Air on the G string had a couple of young ladies in front of us crying afterwards. They played Brandenburg #5 and their harpsichord player just RIPPED thru that solo, seriously as good as anyone I’ve ever heard.

Ms. IH likes to catch the Driftwood Theatre group whenever they are in town also.

Not so bad out here – as long as you don’t need to do something like this several times per week.

#146 Sail Away on 05.10.19 at 2:44 pm

#47 oakville Sucks on 05.09.19 at 6:52 pm
If you want to have a life, you move to the US. That’s where 3 families we know moved. They have huge houses on huge lots, high paying jobs, cars and still have money left over for vacations and investments. Crime is low in these areas and health insurance ISN”T a problem!

—————————————–

Yes, I agree. I’ve done well financially in Canada but previously did better in the US with less red tape. Real estate is more affordable and taxes are far less painful. Health insurance costs are similar to Canada’s as an employer. Might re- re-locate. Just have to flog my Canadian real estate, which has done quite well in the last 12 years.

#147 JB on 05.10.19 at 2:47 pm

#137 Smoking Man on 05.10.19 at 1:43 pm

JB on 05.10.19 at 12:01 pm
#122 Tater on 05.10.19 at 10:48 am
#119 Smoking Man on 05.10.19 at 9:44 am
So stats Canada says Canada added 106,500
Jobs in April. A record….
Yet job openings stat hasent budged.
It’s an election year and as Warren Konsela said. T2 and his minions are the most corrupt govt in Canadian history.
—————————————————————–
Doesn’t matter how tight the labour market gets, no-one is hiring you.
And the idea that these numbers are manipulated for political gain is exactly the sort of nonsense we’ve come to expect from you.
………………………………………………………………….
I have to ask is Smoking Man a Canadian or American? He says he is in California, so what is the infatuation with Canadian politics in which he has not practical contribution? If I lived in Italy I would be concerned with the politics and economic consequences of where I currently reside. Not where I used to live.
……

Political junky + My kids are still trapped in commie Canada.
………………………………………………………………….
Are they registered Communists? You do realize that we are free to come and go as we please in this country. I have two degrees and have moved to the states and back again. Its easy if you have the correct skill-set or degrees. What part of Canada do they live in? My part is run by a maverick Open for Business guy. Not quite sure how that is working out yet?

#148 Brett in Calgary on 05.10.19 at 3:06 pm

Wow, the Globe & Mail sure do print some terrible articles. Can you believe that a house can go down in value?

https://www.theglobeandmail.com/real-estate/calgary-and-edmonton/article-calgary-house-price-dropped-twice-before-buyer-found

My fave part “the sellers were thrilled”… no sh*t they were.

#149 PastThePeak on 05.10.19 at 3:19 pm

#134 AGuyInVancouver on 05.10.19 at 12:30 pm
This all ignores the fact many people want to be able to spend Saturdays watching a live NHL game, or going to the symphony, or taking in MSL soccer or going to an art gallery…

Just sitting on the couch watching Hockey Night in Canada doesn’t cut it for a lot of people.
++++++++++++++++++++++++++++++++

It might surprise you, but there are NHL teams in cities other than Vancouver and Toronto. Crazy, I know. And, if you actually like hockey, many smaller cities have CHL or AHL teams that are excellent entertainment.

Of course, what I like isn’t necessarily what you like. Some love the big city, and wouldn’t want to live anywhere else. Some like smaller cities, and others either small town or rural. To each their own. And to also note that these preferences can change over time. I lived in Toronto for 2 years in my early 20s, and it was fun having all of the bars and restaurants near by, and not needing a car on a daily basis. But these things meant a lot less to me by my 30s.

What I think deserves criticism are the people that make the claim that they love the big city for all its people, buzz, proximity, culture, etc – but then turnaround and bitch about the price of real estate. That it is all the boomers faults, or the government, or the BoC.

Guess what – as GTA and LML became more popular, and became more big city, and attracted boatloads of new people, then the price of RE went up (sometimes a lot). It is part and parcel of the deal. There is no free lunch.

#150 PastThePeak on 05.10.19 at 3:22 pm

#138 IHCTD9 on 05.10.19 at 1:50 pm
#130 PastThePeak on 05.10.19 at 12:10 pm

Don’t forget – once you go a bit further east than Port Hope, and move up away from Lake Ontario, it gets quite a lot colder in Dec/Jan/Feb for those of us in Ottawa, Montreal, Quebec City, and environs.
___

I found this out last winter. I was up that way (near you?) in a little town by the name of Russell – a very nice little town – at least as viewed when dark.

It was 7 below when I left home, it was 15 below when I arrived at about 8:00 pm.
+++++++++++++++++++++++++++++

Yep. Russell is maybe 45 mins from east end of Ottawa. Your experience is what I get every time the family drives back from Markham visiting friends – watch the temp go from maybe -5 to -10 around Kingston to -20 in Ottawa.

#151 not 1st on 05.10.19 at 3:55 pm

Canada should just end the experiment. It didn’t work, no shame in trying. Too many disparate regions and views.

https://www.macleans.ca/opinion/canada-a-nation-of-strangers/

#152 IHCTD9 on 05.10.19 at 3:57 pm

#142 Barb on 05.10.19 at 2:26 pm
Mattieu, they’re French Vikings *grin*.

Get a Pacific Energy or Blaze King woodstove, but first ensure old brick chimney has a new/inspected stainless steel liner. Hardwood (maple) firewood burns so nice and hot once seasoned that it’ll melt your slippers.
————

I second the Pacific Energy recommendation, they are super good stoves. Everyone I know who bought one of these can’t get over how much better they are than whatever they had before.

Make sure that maple is actually hard maple (sugar) compared to soft (Manitoba).

#153 Marco on 05.10.19 at 4:23 pm

What would happen with Interpol entering this lawless land of The Queen? What would happen with RE prices if all money launderers get banned. Here in Turdonto, Dog is welcoming them with open arms, while communists in BC like, wish to get rid of them

#154 Marco on 05.10.19 at 4:27 pm

And by the way if a human choice is Quebec City than life is like in Game Of Thrones. Winter and indoor. Only jobs available public service if you can get it. What about some warm seas? Nobody interested in Canadian talent?

#155 PBrasseur on 05.11.19 at 12:33 pm

Quebec City is one of the most beautiful cities in North America and great place to live and retire. Sure it has a winter but also great skiing and all kind of winter sports near by.

Montréal in my opinion has none of that. Apart from good restaurants and cultural life the city is in pretty bad shape actually, the roads are probably the worst in the world, no kidding.