The prelude

Only twice in the last 21 years have house prices failed to rise during an April. One was during the financial crisis of 2009. And one was last month.

On the surface, it’s odd. Mortgage rates have plunged again, thanks to a war among desperate, deal-starved lenders. The economy turned out more than a hundred thousand new jobs last month – the best performance…ever. Stock markets and portfolios have roared ahead in 2019, increasing family wealth. And house prices have stabilized or dropped in most major markets, especially BC.

So a spring housing season with this kind of activity means something’s afoot. Something significant.

In addition to that Teranet-National Bank finding, there’s much more to consider this week.

Capital Economics – always a little extreme but fairly prescient – says Ottawa is seriously underestimating the impact of a national housing slowdown. It will end up stilling construction, it claims, costing jobs. As a result the economists figure the Bank of Canada will chop interest rates twice by the end of 2019. Few others agree. They say one cut within a year is more like it. But, still, that’s a big deal since the central bank has obviously failed in its bid to normalize the cost of money.

In BC, quelle mess.

April sale across that sorry, smoky province were down about 19% from 2018, which also kinda sucked. For the year, the decline in deals is 25% but listings have popped up by a third. Classic prelude to price drops. On Wednesday CREA pegged that at about 6% across the province and 9% in Vancouver so far this year. Here’s what the realtors’ economist had to say:

“Sales activity is stabilizing among Canada’s five most active urban housing markets,” said Gregory Klump, CREA’s Chief Economist. “That list no longer includes Greater Vancouver, which fell out of the top-five list for the first time since the recession and is well into buyers’ market territory. Sales there are still trending lower as buyers adjust to a cocktail of housing affordability challenges, reduced access to financing due to the mortgage stress-test and housing policy changes implemented by British Columbia’s provincial government.”

By the way, did you see this chart from the stat freaks at Zoocasa? Months-of-inventory has exploded higher in the course of the past year. The burbs are hurtin’ bad.

– Zoocasa

In Ontario, sales are also down, but prices have pretty much flatlined after taking a tumble in 2018. Meanwhile (as in BC) offshore buyers have fled along with local speckers as market conditions worsen. The latest provincial stats show foreign buyer levels dropped from about 4.5% to only 1.8% in the GTA. From basically irrelevant, in other words, to completely inconsequential. When history is written, corrected and understood, it will show Canadians created a real estate bubble pricing each other out of decent accommodation and indebting an entire generation. A few savvy offshore guys just went along for the ride. But, for now, denial and ignorance will continue to finger others for our own reckless actions.

So what to make of all this?

Given the lack of momentum and buyer confidence in most (not all) markets this spring, the summer of ’19 is likely to be brutal. More inventory, fewer transactions, falling values – despite the cost of money retreating again. If the job creation numbers of April turn out to be illusory, the Bank of Canada could nip rates. But will a quarter point decrease restore vitality to a market now in retreat? Don’t count on it. There are better places to put your money.

Finally, there are affordable places to live. There are cities where prices have bottomed, or nearly so. There are communities where people have decent jobs and pay four times their incomes for a property – not twelve times. Where families can trash their debt an build retirement wealth.

In a time when geography’s increasingly irrelevant with online, remote employment going mainstream – what’s stopping you from seeking a better place? Especially if you’re young? Is it not more constructive to move and get what you seek, instead of staying put and cursing circumstance?

Every time this blog talks about the sanity of markets in Halifax, Montreal, Ottawa, Quebec, Windsor, Calgary or Edmonton, the wailing starts. Millions cannot conceive of leaving their psychological womb. And, thus, prices in Toronto or Vancouver will never halve. They will continue to enslave.

A poignant reminder that life is about choices.

177 comments ↓

#1 crowdedelevatorfartz on 05.15.19 at 3:37 pm

It wont just be BC forests that burn this summer…….

#2 Captain Uppa on 05.15.19 at 3:37 pm

Family. That’s the most important thing I seek and they are all in GTA. I love those other cities and have no qualms about people wanting to live there.

So why is it that people continually question my choice of GTA?

By the way, my house is 4.6x our household income and their are plenty more like me in GTA.

#3 crowdedelevatorfartz on 05.15.19 at 3:44 pm

@#69 Communist Conservative Conundrum

“Do the Conservative communists stand in line waiting for financial handouts before or after the NDP communists or the Liberal communists?”

********

You havent answered the question….

#4 crowdedelevatorfartz on 05.15.19 at 3:52 pm

BC Govt announced they are to have a public inquiry into money laundering…….

Hello BC Liberals……

#5 Andrewski on 05.15.19 at 4:02 pm

Contradictories in the market abound. On a completely different topic, GO RAPTORS!!

#6 Rifles on 05.15.19 at 4:02 pm

“Every time this blog talks about the sanity of markets in Halifax, Montreal, Ottawa, Quebec, Windsor, Calgary or Edmonton, the wailing starts.”

The problem is that these places are Halifax, Montreal, Ottawa, Quebec, Windsor, Calgary or Edmonton (well maybe not Montreal)

#7 UnknownComic on 05.15.19 at 4:28 pm

We are moving to Windsor from Kingston. Places are way less expensive, and the weather is better, at least in the winter.

#8 Headhunter on 05.15.19 at 4:30 pm

herd is spooked this money laundering thing has legs, no charges need to be laid but is has people talking and talking about it.

Condo’s in the smoke are built for investors and the type of people who are washing dough. Most condos are bought as 2nd or 3rd. properties. We all know that.

50% haircut at a minimum in GTA. 50% has already taken its pound of flesh in west van.

Hook your wagon to a company thats going to get work on the 250 Million Ontario transit plan, ride out the lean years that are a coming. Ottawa same good work there for Engineers etc. Lots of development slated.

I was calling Michigan all day. Want a piece of the big auto and detroit construction boom. Will advise when get a better feel. Tons of projects there on the go.
I have Construction GC’s in Calgary and Edmonton that are hiring and have projects so not all dead there.

USA, Greece, England, Ireland, Spain, (lots more can be added to this list) already took their 30-50% hit. Not different here we are next.

#9 JohnnyO on 05.15.19 at 4:46 pm

The months of inventory numbers on Zoocasa’s chart that you included in your post is wrong. They used new listings instead of total inventory by mistake. They pulled the chart because it’s wrong. The real numbers are significantly worse than what the chart indicates. https://twitter.com/zoocasa/status/1128436520510210048

#10 oh bouy on 05.15.19 at 4:48 pm

“Every time this blog talks about the sanity of markets in Halifax, Montreal, Ottawa, Quebec, Windsor, Calgary or Edmonton, the wailing starts.”
______________________________________

Folks want to be where their friends and family are.
Not to mention the job opportunities.

#11 TheSpangler on 05.15.19 at 4:49 pm

#6 Rifles on 05.15.19 at 4:02 pm
“Every time this blog talks about the sanity of markets in Halifax, Montreal, Ottawa, Quebec, Windsor, Calgary or Edmonton, the wailing starts.”

The problem is that these places are Halifax, Montreal, Ottawa, Quebec, Windsor, Calgary or Edmonton (well maybe not Montreal)

—————–

I’d take any of those over Toronto or Vancouver in a heartbeat.

#12 Lost..but not leased on 05.15.19 at 4:53 pm

Re BC stats:

Looking at White Rock /South Surrey
MOI (for Greater Vancouver ) is highest at 7.4..

This is the area many older people who live elsewhere in Greater Vancouver often move to.

Family members SF home in South Surrey sold early 2018 for approx. $1.5 Million.

This area is one to watch.

#13 Not So New guy on 05.15.19 at 4:54 pm

Something tells me that sometime after October we will be hearing about a change of methodology regarding the counting of workers that led to those 100k+ jobs

Just like they no longer count people who are no longer looking for work as unemployed

#14 david on 05.15.19 at 4:55 pm

I live in Ottawa. the folks next door sold in Toronto and bought a very nice house here for cash – zero debt. their young kids go to the school that backs onto their house – yup. no bus. no fuss. out the door and walk 100M. Ottawa’s market is super hot, sorta like the Russian nurse who took care of Putin after his fall on the ice this week. Yet not so hot that you dummies in Toronto can’t sell out and live the high life. Heck, you might even increase your chances of cheering for a Stanley cup winning team…

#15 Theend isnear on 05.15.19 at 4:59 pm

Sales down in April? It’s not hard to figure out
…people are broke.

#16 Zoocasa flubbed on 05.15.19 at 4:59 pm

Zoocasa made a pretty major error in their analysis:

https://twitter.com/zoocasa/status/1128436520510210048

The infographic you’re using in today’s column probably has incorrect Months-of-Inventory figures. It’s even worse than it looks.

#17 Victoria Real Estate Update on 05.15.19 at 5:06 pm

“… reduced access to financing due to the mortgage-stress-test…” – CREA economist

It’s laughable how those in the housing industry keep demonstrating their obvious inability/unwillingness to understand the big picture about the stress test.

And they continue to paint the stress test as unnecessary and excessively restrictive.

The fact of the matter is that the stress test basically only compensates for the lack of rate hikes in Canada compared to the States since the beginning of 2015.

Since the beginning of 2015:

* Canada is only + 3 in terms of rate hikes.
* The US is + 9.

Knowing the m.o. of those in the housing industry, if, instead of the stress test, Canada had not dropped rates twice in 2015 and increased 9 times like the US has, the industry would likely be whining about that, saying rates are too high – despite the fact that Canada would still be at near-zero rates (for over 10 years).

#18 BC Renovator on 05.15.19 at 5:07 pm

Wasn’t aware there was that much supply in Surrey… Yet, S and L just sold their apt in North Vancouver in a week, and bought a house on Van Island outside Victoria for Mid 8’s. They were 1 of 5 offers on the house. One example of parts of the BC market remaining strong. High end is getting crushed

#19 mr. nirp on 05.15.19 at 5:13 pm

wow, and I heard there is a recovery (or dead meow?)

https://betterdwelling.com/recovery-or-dead-cat-bounce-canadian-real-estate-sales-rise-unexpectedly/

#20 CJOhnC on 05.15.19 at 5:13 pm

Re#6

Yes. Not Nanavut

#21 Ryan on 05.15.19 at 5:13 pm

My guess is the gov’t will find a way to keep the real-estate train going, the TSX > 30% banks – too big to fail!

#22 AGuyInVancouver on 05.15.19 at 5:15 pm

The UK’s Telegraph is reporting a tsunami of capital fleeing China to Hong Kong after trade talks collapsed. How much will wash up in Vancouver and Canada:
https://www.telegraph.co.uk/business/2019/05/14/hong-kong-sounds-alarm-chinese-capital-flight/

#23 Victoria Real Estate Update on 05.15.19 at 5:18 pm

“And, thus, prices in Toronto or Vancouver will never halve.”

The old Garth predicted that Vancouver would (pretty much) “halve” in 2009, and it’s no secret how much Vancouver’s bubble has inflated since then with debt levels and prices skyrocketing while incomes have barely moved.

Garth, why the change in opinion? What facts are you basing this on?

Garth on February 2, 2009:

“Just as the apologists for the country’s biggest housing bubble (Vancouver) were backpedalling on Monday. A reporter for the Vancouver Sun was trying to make me combust.

Economist Muir, I suspect, knows this depressing recession will likely shave a third off the inflated and unaffordable prices of homes in this province, as it will in the GTA by the time things stabilize. But, being a paid shill for the industry, he’d have a hard time saying so.

Contrary to realtor belief, a 10% or 20% price reduction does not constitute a buying opportunity when there’s another 30% bomb waiting to explode.”

#24 Smartalox on 05.15.19 at 5:30 pm

Sure, but after the BC Liberals scapegoat a member or two, (and not necessarily the guilty ones, if Rich Coleman has anything to say about it) the party will easily trot into the next election crowing about how it has puged itself of all the ‘old evils’, and has mended it’s ways.

#25 Mike in Airdrie on 05.15.19 at 5:33 pm

Weather is the reason people don’t move to affordable cities. If you don’t mind 8 months of winter head over to Alberta.

What city that I mentioned has 8 months of winter? – Garth

#26 yvrguy on 05.15.19 at 5:39 pm

#24 Smartalox on 05.15.19 at 5:30 pm
Sure, but after the BC Liberals scapegoat a member or two, (and not necessarily the guilty ones, if Rich Coleman has anything to say about it) the party will easily trot into the next election crowing about how it has puged itself of all the ‘old evils’, and has mended it’s ways.

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

After the Public inquiry is all said and done, the BC Libs won’t even have official party status.

Looking forward to seeing Crusty and Gregor take the stand before they’re sent to the clink. Rennie too.

#27 PeterfromCalgary on 05.15.19 at 5:40 pm

Just a reminder to all your folks in Toronto and Vancouver who can telecommute. Not only can you buy a very nice single detached house in Calgary for $400 to $500k but we don’t have any provincial sales tax.

https://www.realtor.ca/real-estate/20626003/3-0-bedroom-single-family-house-3567-sierra-morena-rd-sw-signal-hill-calgary-signal-hill?

#28 Brian Ripley on 05.15.19 at 5:45 pm

My Months of Inventory (MOI) chart for the 6 biggest population markets in Canada:
http://www.chpc.biz/mar-moi.html

…shows that for the last 4 months the MOI has fallen except for Vancouver which on the April print it rose but the preceding 3 months were down.

The 2019 rally has been good for some sellers.

#29 yorkville renter on 05.15.19 at 5:50 pm

I’m one of those who don’t want to leave my psychological womb… yes, my work is virtual (save for client face to face meetings, maybe once a week), but I love the accoutrements of living in the centre of the universe (kidding!).

I’d rather rent in Toronto than buy in the 905, or worse the 519 or 705 **shudder**

#30 Ron on 05.15.19 at 5:53 pm

What does ‘normalize the cost of money’ mean anymore?

This is the New Normal. Inflation doesn’t exist in the 21st century outside of assets investors bid up to chase dwindling yields.

I’m beginning to think the real play is to borrow as much cheap money as possible because this Ponzi scheme is too big to fail.

#31 "We want legitimate revenues, not revenues fueled by org crime" on 05.15.19 at 5:54 pm

Say what you want about BC NDP but this group is doing what they say. And you may not see it now, but things in 3 to 4 years will be better in BC – whatever is left of it.

Horgan, “we don’t know the cost of an Inquiry, but the consequences of $7B in dirty money on real lives can’t be calculated (paraphrase)”

Fin Min James answers questioning of Maloney modelling figures … says clearly estimate is conservative…VERY CONSERVATIVE.

I will do some off the cuff calculations and insight for the blog. The entire BC population is living on borrowed time that has run out. It is an absolute financial disaster in BC. I am auditing like crazy. You ain’t seen nothing yet.

This thing is going down hard. BoC knows. They are staying tight lipped. Doing what they need to do.

The only switcheroo I have seen is Trudeau and the Fed gang who seem to all of the sudden be on board (or at least faking to be on board) with what BC is leading.

The dirty money will still flow but the industries named and primarily targeted right now will be going out of business (real estate, luxury cars, casinos) and/or
doing financial restructuring like Parq Vancouver Casino to avoid bankruptcy / sudden death.

All eyes on BC but it won’t be limited to just BC.

#32 Bob Dog on 05.15.19 at 5:58 pm

Can someone explain why BC Lottery Corporation is still operating? We have seen video of them laundering money in their casinos. Seems to me if I ran a money laundering operation and was caught on video, I would no longer be laundering money.

#33 Alberta, the Dirty Money King of Canada on 05.15.19 at 5:59 pm

What is Kenney going to do about that dirty little secret that is out – the one about Alberta basically double in dirty money volumes over that of ON and BC?

Imagine house prices in AB without that nice little 12B dollar injection (the conservative reported figure of dirty money) coming in annually.

#34 Pfft on 05.15.19 at 6:04 pm

@#14 david on 05.15.19 at 4:55 pm
I live in Ottawa. the folks next door sold in Toronto and bought a very nice house here for cash – zero debt. their young kids go to the school that backs onto their house – yup. no bus. no fuss. out the door and walk 100M. Ottawa’s market is super hot, sorta like the Russian nurse who took care of Putin after his fall on the ice this week. Yet not so hot that you dummies in Toronto can’t sell out and live the high life. Heck, you might even increase your chances of cheering for a Stanley cup winning team…
______________________________________

you think the senaturds have a better chance? lmao.
You may be the dummy here.

#35 JonBoy on 05.15.19 at 6:05 pm

We moved to the Lower Mainland in January 2017. Once we got over house pricing shell shock (and wisely decided not to buy), we’ve loved most of our time here. We lived in Edmonton and my wife says she would never go back. Why? The winters are brutal and last quite a while and the summers are full of allergens for us.

BC has much easier winters, far better scenery (we hike and boat) and our actual cost to live somewhere is lower (we rent for about $400 less that we paid to own in Edmonton). So, we are losing that “equity” but we also have no unforeseen expenses on our house.

I’m okay with not owning a house. It’s not a requirement to be happy and I’ve found it pretty relaxing not to have to do anything on my weekends, in terms of maintenance or upkeep.

That said, I’d have no problem moving to a lower cost area if the right opportunity came up. For now, though, my kids are in a great private school (close to home), we make more than we spend, we have beautiful and accessible nature around us and we have some family to keep us company as well.

Each place is what you make of it. Enjoy and celebrate the good – it’s less stressful than focusing on the bad.

#36 unbalanced on 05.15.19 at 6:07 pm

No mention of Winnipeg!!! NOT !!!!!!

#37 Michael King on 05.15.19 at 6:10 pm

As a Toronto refugee, my decision to stay in Vancouver was entirely due to the better climate on the West Coast. That was in 1981. We would move to Calgary tomorrow (great place!) but for the weather. My point is that Vancouver is a very expensive place to live but I’m fine with that as it is the best place to live in Canada, in my opinion. Snow in May is a drag, no matter how little RE costs.

Whadda buncha pansies. – Garth

#38 Insane Quotes out of BC today on 05.15.19 at 6:11 pm

BC Officials:

“We found that criminal activity has had a material impact on housing costs, last week confirmed depth of laundering in real estate ”’these are profound problems”

Fin Min James … we know in markets like Metro Vancouver, ML could have raised housing prices by as much as 20 per cent (per financial modeling study) … “our real estate needs to provide housing for people, not profits for criminals”

Horgan says we are ready to answer questions about NDP gambling in the 1990s, “we are not afraid of that” … but betting limits in the 90s tiny compared to under the BC Liberals

And the best quote of all today:

Eby cites German not having power to obtain law enforcement records or compel witnesses “We are done with asking nicely”

#39 Captain Uppa on 05.15.19 at 6:19 pm

If you don’t like GTA, then don’t. But it is the epicentre of Canada whether you like it or not.

And who cares where people want to live? Everyone has different priorities. The insecurity and vitriol of those that hate on Toronto is palpable on this forum.

#40 Crow on 05.15.19 at 6:19 pm

BTC over $8000

Wall Street is on board

Next stop ? $10,000

Doing and gloomers went into hiding ?

#41 Victoria Real Estate Update on 05.15.19 at 6:20 pm

Since 2002 Montreal’s housing price run-up has made San Francisco’s look small (fifth chart).

That San Francisco has a bubble again is pretty much old news in the States.

When house prices skyrocket and incomes barely move – that basic imbalance is what constitutes a housing bubble.

But Canada is full of bubble deniers and Montreal’s housing bubble is, perhaps, defended the most vigorously as not having a bubble.

Montreal’s price run-up since 2000 has been beyond extreme – with values tripling (2.9 times) while incomes have barely moved.

To some that is a sure sign of market “sanity”. But others know better.

Montreal’s bubble deniers continually choose to walk away from and ignore Montreal’s bubble facts.

Instead of addressing those facts, bubble deniers try to redirect and/or distract – demonstrating typical behavior of those who know their viewpoint has been overwhelmed with opposing factual information, leaving them with no chance of winning any argument.

And when it comes to Montreal’s housing bubble, no blog demonstrates this immature behavior (and the entertainment value it brings) more than this one.

#42 50 YEARS OF MAPLE LEAF INCOMPETENCE! on 05.15.19 at 6:33 pm

“In a time when geography’s increasingly irrelevant with online, remote employment going mainstream – what’s stopping you from seeking a better place? ”

So true, so true. Leave the GTA fifth-rate swampland asap, and get to experience Real Canada, where some sports teams actually win things!!

And by leaving Toronturds and GTAholes behind, you may save yourself from being a victim of psychopathic, narcissistic GTA road rage, too!

https://globalnews.ca/news/5276391/highway-410-hit-and-run-video/

WHAT ON EARTH IS WRONG WITH YOU SICK F***S IN THE GTA!!!!!?????

What a hole :(

Get out while you can, anyone with a brain.

#43 Dave on 05.15.19 at 6:36 pm

There is a tale of 2 stories for private lenders in BC real estate:
1) Taking over properties from many delinquent developers
2) Hiding under their bed because delinquent developers are threatening their lives. You ask for your money again and your dead.

Loss of money just brings the worst in people

#44 Anne on 05.15.19 at 6:37 pm

Hey Garth – Just heard that Adele is getting a divorce and writing a new album about it. We’ll get you the t-shirt ;o)

#45 Macduff on 05.15.19 at 6:42 pm

Once I retire in 2 years I am putting Canada behind me. So many warmer, nicer places to live for less than a million dollars…… the Mediterranean anyone?

#46 AB on 05.15.19 at 6:45 pm

#33 More ridiculous nonsense from the same angry Socialist with endless pseudonyms ad nauseum.

#47 Ben Smith on 05.15.19 at 6:46 pm

As we all know how millenials think, life is always much easier if you are a victim….

#48 akashic record on 05.15.19 at 6:48 pm

Not happy? Move!

Sounds like a great political platform, compared to the old what’s wrong, how to make it good.

#49 Dave on 05.15.19 at 6:48 pm

Who would want to live in Calgary now that Jason Kenny has been elected? Is he still under RCMP investigation? If you think northern Alberta looks like an open pit mine, just you wait…

#50 Dave on 05.15.19 at 6:49 pm

Re”BC Govt announced they are to have a public inquiry into money laundering…….

Hello BC Liberals……”

And I’ll bet Rich Coleman and Mike Dejong are nervous now! Maybe there will finally be some accountability

#51 Give us global warming on 05.15.19 at 6:51 pm

#25 Mike in Airdrie on 05.15.19 at 5:33 pm

Weather is the reason people don’t move to affordable cities. If you don’t mind 8 months of winter head over to Alberta.

What city that I mentioned has 8 months of winter? – Garth

True enough… they all have 10+ months of winter

#52 Victorian Bubble Brain on 05.15.19 at 6:54 pm

#41 Victoria Real Estate Update on 05.15.19 at 6:20 pm

Since 2002 Montreal’s housing price run-up has made San Francisco’s look small (fifth chart).

That San Francisco has a bubble again is pretty much old news in the States.

When house prices skyrocket and incomes barely move – that basic imbalance is what constitutes a housing bubble.

But Canada is full of bubble deniers and Montreal’s housing bubble is, perhaps, defended the most vigorously as not having a bubble.

Montreal’s price run-up since 2000 has been beyond extreme – with values tripling (2.9 times) while incomes have barely moved.

To some that is a sure sign of market “sanity”. But others know better.

Montreal’s bubble deniers continually choose to walk away from and ignore Montreal’s bubble facts.

Instead of addressing those facts, bubble deniers try to redirect and/or distract – demonstrating typical behavior of those who know their viewpoint has been overwhelmed with opposing factual information, leaving them with no chance of winning any argument.

And when it comes to Montreal’s housing bubble, no blog demonstrates this immature behavior (and the entertainment value it brings) more than this one.

….
MTL was dirt cheap ever since 1976… it’s only finally starting to catch up from being depressed for a few decades.. and still is a great deal overall

#53 yvr_lurker on 05.15.19 at 6:56 pm

I don’t see the point of spending all the money on the public inquiry, when it will take so long to complete. What more will we learn. Simply put in laws NOW to eliminate hidden proxy ownership of real estate in BC, laws for no shadow flipping, and stricter enforceable laws to curtail money laundering. Assign RCMP and CRA workers to seriously go after money launderers and bring them to justice, collecting taxes. Put in mechanisms to collect good data on foreign ownership. If we wait until after the public inquiry to inact good measures we will be waiting way too long.

#54 TS on 05.15.19 at 6:57 pm

Canadians are a weird bunch. Only in Canada would people rationalize paying almost $1500 per ft2 for its “great” weather. You guys do realize that Vancouver has almost 200 days per year of rain and average daytime highs don’t break double digits from November through March right? That would be absolutely miserable weather almost anywhere else on earth. For the cost of living in Vancouver you can buy a place in any of the cities Garth mentioned and another house in a place with actually good weather.

#55 Democracy Is Mob Rule on 05.15.19 at 7:01 pm

What city that I mentioned has 8 months of winter? – Garth
______________________________________________

Every city in Alberta has 8 months of winter. It snowed heavily in Calgary in May already and more is forecast, as usual. It isn’t safe to put bedding out plants outside until June. Most of the time it starts snowing in September, or October for sure. There is a three month growing season in a good year, sometimes less. I remember several years ago it snowed in August. I keep my winter tires on all year, so I don’t have to switch them. There is a reason why 4 wheel drive trucks rule the road. When it doesn’t snow, it hails. It’s still frozen water, just heavier.

#56 Moh on 05.15.19 at 7:05 pm

For the ppl who bought new builds in mount pleasent Brampton for the prices this spring was golden. If you bought this spring you saved over a hundred thousand. Builders are giving big houses for good prices. Land is almost done and Brampton will no longer have any room for new builds.

#57 Lisa Power on 05.15.19 at 7:09 pm

Having lived in both NL (cheapest housing in the country) and B.C.(most expensive houses in the country – as we lived in Whistler), there is more to this equation than just cost. It was very difficult for me to leave NL initially as I had family ties there and everything was familiar and easy. We are an active family (we have three boys) and my life is so much better when my boys are out skiing, biking, kayaking every weekend (both my husband and I love these activities too). This is easy (but not cheap) to do in Whistler. In NL, our weather is always windy and outdoor activities outside of hiking are limited due to the weather, so if you are into outdoor activities you are out of luck – if you are into music, dance and other forms of the arts, NL is the place to be as we have a very rich music and arts culture. Our income taxes are higher in NL (we pay $10k more a year to live in NL over BC), the HST is higher by 3%, food is more expensive and more limited (forget getting anything organic in NL in winter), don’t get me started on the costs of flights and ferries off the island as it is robbery, etc. Another thing I realized is that because of the crappy weather and need for some vit d, you tend to crave a spring vaca to somewhere warm while living in NL. I didn’t have the need for that in BC as spring arrives every year and you can get your sun in your garden. So while housing in a lot cheaper, there are other costs that to consider. If it were just about cost of housing, everyone would be living in St. John’s, where you can get a new three bedroom, two bath house for 300k.

#58 Communist Conservatives on 05.15.19 at 7:10 pm

#3 crowdedelevatorfartz on 05.15.19 at 3:44 pm
@#69 Communist Conservative Conundrum

“Do the Conservative communists stand in line waiting for financial handouts before or after the NDP communists or the Liberal communists?”

********

You havent answered the question….

******________€****????????

You havent answered my question. Prove me wrong that communist conservatives are not communists. Prove me wrong that communist conservatives angry at b20 are not anti free market.

Communist conservatives dont wait in line. They DEMAND that taxpayers money goto them. They demand taxpayers money not be protected via B-20 as the communist conservative leader tells the parasite realtors, bankers and mortgage lenders communism for the rich will return. Never once have the communist conservatives said the government should not interfere in the free market via CMHC. Why? Because the communist conservatives benefit the most. These lazy parasites dont want to work. The laziest and most greedy are the communist conservatives. Look at doug ford stealing from the poor to give to the wealthy communists who love socialism for the rich and free markets for everyone else.

#59 Damifino on 05.15.19 at 7:11 pm

#39 Captain Uppa

The insecurity and vitriol of those that hate on Toronto is palpable on this forum.
————————

So, how do you think YVR feels?

#60 fud on 05.15.19 at 7:15 pm

cmon Garthy Baby, give some luv to Bitcoin man. Its super cool and the fomo has not even started…yet

#61 millmech on 05.15.19 at 7:17 pm

#27
Why spend $500k
386 Baker Drive, Quesnel, BC
Bedrooms: 3
Bathrooms: 1
Lot size: 7590 acres
Type: House
Listing ID: R2350748
Living area: 1100 sqft
Provided by: Realt

#62 Nonplused on 05.15.19 at 7:17 pm

I don’t know prices in Calgary still seem pretty high to me. To buy an average house in Calgary is about $550,000 so you’d need an income of $136,000/y to do it, whereas the average income is only about $70,000/y. Comparing averages like that is pretty imprecise because houses and incomes both follow a Pareto distribution, but if we go ahead and use these numbers Calgary house prices still have more downside ahead and little upside. Nothing like Toronto or Montreal though.

Searching for the above statistics I noted that in 2016 incomes in Edmonton were substantially above those in Calgary, whereas in history the reverse has been true. This shows how hard Calgary was hit by the oil situation, whereas Edmonton is more of a government town and the government did not respond to the situation in the same way the oil patch did. This can also be seen in the office vacancy rate which is about 28% in Calgary but a much lower although still not great 16% in Edmonton. But despite all of this good news for Edmonton, house prices there remain lower than in Calgary by about the historic spread. (About $440,000 for an average house in Edmonton vs. $550,000 in Calgary. Pretty substantial really.)

So if you want a good stable government job and an affordable house my friend, head for Edmonton. Calgary is still stuck in suck mode and will be for the foreseeable future.

Another article I read today discussed the combined affects that Notely’s production curtailments combined with Trudeau’s pipeline embargo are having on the oil patch. Apparently the differential is better so companies are making money again, but with no prospects for increased take-away capacity and therefore production, they are using that money for share buybacks rather than investment. Unfortunately share buybacks do not create jobs. The oil & gas sector of the Alberta economy has been put in “zero growth” mode. That means the broader Alberta economy is going to be hard pressed to keep up with the rest of Canada.

Also afoot we have Kenney vowing to scrap the Alberta carbon tax pronto while Trudeau vows to impose his own (which will be so short lived it’ll never hit a single receipt as Scheer sweeps the Trud back to Quebec where he belongs). More interesting in the coming years is I predict a new constitutional crisis based around transfer payments. Alberta can no longer afford to be used as a wallet from which to bribe Quebec to stay in confederation. The transfer payment system will end or confederation will end. The way it looks, Alberta has to wait for Keystone XL to be approved once the shale oil boom dies down in the US, and then even more oil will go south. If we have to send the oil south, why should we send the money east and west?

#63 Headhunter on 05.15.19 at 7:18 pm

#39 Captain Uppa on 05.15.19 at 6:19 pm
If you don’t like GTA, then don’t. But it is the epicentre of Canada whether you like it or not.
______________________________________

Im reading your mail. It’s the “smugness” of the GTA that rubs peeps. Hey I grew up in DonMills from 1970-90 when you could drive anywhere in the GTA in 15 mins!

But thats the vibe in the 416. Not everyones thing I agree.

#64 crowdedelevatorfartz on 05.15.19 at 7:19 pm

Whadda buncha pansies. – Garth

“Pansies? Pansies? Did someone mention pansies?
Not to worry.
Pansies grow year round in the Lower Brain land.

https://www.hgtv.com/outdoors/flowers-and-plants/flowers/winter-pansies

#65 Kelowna on 05.15.19 at 7:25 pm

Great column Garth and I was interested to see the comments section since every time someone mentions leaving the GTA or Vancouver, many people literally lose their minds. Having lived in Calgary, Toronto, Vancouver, Halifax and now Kelowna, there are great things about each of these cities and I can tell you that having a mortgage that doesn’t eat up all your disposable income sure makes life more enjoyable and makes travel back to see family and friends interesting and affordable. We usually find that they all want ho come to see us to see a new place and share the experience.
I long ago lost Interest in people who complain about high housing costs, long commutes or traffic but are absolutely unwilling to consider a new location! They are missing a great opportunity to enrich their lives and see and experience another part of Canada!

#66 tccontrarian on 05.15.19 at 7:26 pm

“Given the lack of momentum and buyer confidence in most (not all) markets this spring, the summer of ’19 is likely to be brutal. More inventory, fewer transactions, falling values – despite the cost of money retreating again. If the job creation numbers of April turn out to be illusory, the Bank of Canada could nip rates. But will a quarter point decrease restore vitality to a market now in retreat? Don’t count on it.

There are better places to put your money.”

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

That’s for sure:

1. Gold / Silver / Energy
2. EM – Emerging Markets ETFs (some)
3. A few well-selected pot stocks (speculative)
4. Shorts -SP500, Russell 2000 (only small positions presently)
5. EM bonds

That’s where all my $$’s are working hard for me now.

TCC

#67 Dolce Vita on 05.15.19 at 7:27 pm

So. Trudeau Tweets about his flight to Paris for the “Christchurch Call to Action” which he has to explain what that is:

“where world leaders & social media companies will meet to take action against violence & hate online”.

Then he says: “Then, I’ll speak at @VivaTech about restoring trust in the digital world.”

A sampling of the 348 Replies by Canadians:

-Trudeau making a speech on how to restore trust. Wow. Just wow.

-Followed by a speech at the international Unicorns association.

-Can you stay there?

-JUSTIN likes to hang with leaders, it’s a wonder they invite him.

-Hope you paid some carbon tax on top of your ticket.

-Hope you find a great bistro for lunch. Tip big, it’s our money.

-Flight to Paris that’s a long way. Must be at least $200k in booze on this one.

and many more Replies, some not so nice.

—————————————–

Sublime.

What got me was there were 1.8 thousand likes (I’d say bots or paid to Like after reading the Replies, about 20:1 not happy).

https://twitter.com/JustinTrudeau/status/1128636418375471104

Poor Justin, just can’t win for losing.

#68 not 1st on 05.15.19 at 7:27 pm

Being woke and broke in GTA and Vancouver or living against the majestic Rockies in Calgary. Pretty easy choice. For the cost to live in Calgary you can afford to have a 2nd place in Phoenix.

#69 Fiendish Thingy on 05.15.19 at 7:30 pm

Garth-
Zoocasa has withdrawn the chart you posted due to mathmatical errors (they divided sales by new listings for the month, not active listings).

Actual BC months of inventory is MUCH higher than that chart.

#70 Paddy on 05.15.19 at 7:34 pm

Oh Gartho, you’ve really got some people fired up in the steerage section tonight! Oh boy!

#71 Flop... on 05.15.19 at 7:35 pm

Vancouver real estate market?

Yeah, I’ve heard of it.

I could comment on it, but I decided to bring sunshine instead.

When you zig, I zag…

M44BC

“Is Solar Installation Worth It? The Lifetime Savings in Each State.

Advocates of renewable energy often claim its adoption should be considered an investment because, over time, the benefits of installation far outweigh the costs. Is that really true?

Let’s take a look in the U.S. on a state-by-state basis, using data collected from solarreviews.com as of May 3, 2019. A 5kW solar panel system is enough to power an average residential structure — the Department of Energy uses 5.6kW for the size of an average residence in itsown modeling.

Solar Panel Installation: A Deal in Any State
It appears that the claims are true — given the cost of electricity throughout the United States, the cost of installing solar panels for the average residence will easily pay for itself over a lifetime, with a wide variance across states.

Compare the lifetime savings with the overall cost of electricity in each state as provided by an earlier post. This comparison is focused on residential solar panel installation, so focus on residential rates. The three states with the most expensive residential electricity rates are Massachusetts, Hawaii, and Rhode Island.

Take another look at the visualization compared to the residential electricity rates. There is a strong pattern:

Top 3 States With the Most Expensive Residential Electricity Rates

1. Hawaii: 32.09 cents/kWh
2. Rhode Island: 22.67 cents/kWh
3. Massachusetts: 22.57 cents/kWh

Top 3 States With the Biggest Lifetime Savings in Solar Panel Installation

1. Massachusetts: $133.7K
2. Hawaii: $121.6K
3. Rhode Island: $114.2K

It makes sense that the three states with the most expensive electricity would be the three states where solar installation pays off the most. In fact, the payoff is over $100K for only these three states.

What About Alaska?
The pattern appears to hold that the higher the cost of electricity, the higher the savings from solar. Do you notice an outlier?

You may recall in the earlier article that Alaska has one of the most expensive residential rates in the United States. However, it also generates the least average lifetime savings of any state. How can this be? It’s not just location — Hawaii is also a remote state, but solar panels pay off there.

Remember that one thing needed for solar panels to work is sunlight, and Alaska isn’t exactly the sunniest state in America. In fact, it is the only state in America where parts of the state during parts of the year do not receive any sunlight. Hawaii definitely does not have this problem! So, Alaska is a true outlier both in terms of the cost of electricity, and the potential utility of solar.

Is Solar For You?
Provided you live in an area of the country that is not entirely dark during parts of the year, solar installation will likely pay for itself. Check the data below for the exact costs and benefits in your state.”

15 May 2019

https://howmuch.net/articles/the-cost-of-installing-solar-panels-vs-lifetime-savings

Visualization, mainly for Gravy Train…

#72 renter in Surrey on 05.15.19 at 7:43 pm

RE: Fin Min James … we know in markets like Metro Vancouver, ML could have raised housing prices by as much as 20 per cent (per financial modeling study) …

————————————————————————

Yeah, 20%; more like 200%.

How hard is it to fight money laundering?

Query all RE purchase transactions for last 15-20 years.
Identify beneficiary owners.
Match prices with income tax returns.
That’s it.
Sort by purchase price descending. Start from the top, move towards the bottom.

If some one purchased a house for $10mil but declares $10K annual income give him $5mil income tax bill and charge with tax evasion.
Put lien on property. Confiscate, sell on an auction.

Problem solved.

If money are gifted by hubby to housewife in West Van…
There is something about ties to Canada if you have family and RE, so hubby has to declare worldwide income here. Don’t remember details.

Government just wants to keep the party going.
Money laundering is the only thing keeping this place from recession.
So it will continue.

#73 Dolce Vita on 05.15.19 at 7:44 pm

“A poignant reminder that life is about choices.”

No truer words were ever said.

Though, tragic that Canadians would have to uproot themselves so they can afford a home and invest for their retirement.

Something is amiss.

Well, at least Canadian youth does not have to uproot and move to another country to secure a career as is the case in Italia.

There’s one blessing.

Buonanotte e Ciao d’Italia.

#74 not 1st on 05.15.19 at 7:46 pm

Vancouver is corrupt in the extreme. More reporting on the shady market.

https://www.theglobeandmail.com/news/investigations/the-real-estate-technique-fuelling-vancouvers-housing-market/article28634868/

#75 Lawnboy on 05.15.19 at 7:47 pm

#50 Give Us….

#25 Mike in Airdrie on 05.15.19 at 5:33 pm

Weather is the reason people don’t move to affordable cities. If you don’t mind 8 months of winter head over to Alberta.

What city that I mentioned has 8 months of winter? – Garth

True enough… they all have 10+ months of winter
/////////////////////////////////////////////

And 2 months of Bad Skating!!!!!

Bin there, done that, got the hat.

LB

#76 not 1st on 05.15.19 at 7:48 pm

If Toronto is such a center of the universe, why do they need Alberta transfers? And they still have a $350B debt to boot. You could transfer every dime from the rest of the country into the supposed center of Canada and it would still keep sucking.

#77 BlogDog123 on 05.15.19 at 7:48 pm

Family and friends matter, Garth.

While the young and ambitious can go work overseas for a few years, work hard and learn, other folks are not so fortunate or ambitious. And their spouse may not be thrilled to move for the reasons below.

Caring for elder parents, not missing life events with friends and families weighs heavy on some folks. Some people like to live close to those they care about.

#78 akashic record on 05.15.19 at 7:50 pm

#69 Flop…

No Canadian data, eh?

#79 J. Canuck on 05.15.19 at 7:53 pm

#55 Lisa Power
food is more expensive and more limited (forget getting anything organic in NL in winter)

…………………………
You left the Maritimes for organic veggies? What a sensitive little creature you are.

#80 I'm a Lumber Jack on 05.15.19 at 8:01 pm

#65 Dolce Vita on 05.15.19 at 7:27 pm

So. Trudeau Tweets about his flight to Paris for the “Christchurch Call to Action” which he has to explain what that is:

“where world leaders & social media companies will meet to take action against violence & hate online”.

Then he says: “Then, I’ll speak at @VivaTech about restoring trust in the digital world.”

A sampling of the 348 Replies by Canadians:

-Trudeau making a speech on how to restore trust. Wow. Just wow.

-Followed by a speech at the international Unicorns association.

-Can you stay there?

-JUSTIN likes to hang with leaders, it’s a wonder they invite him.

-Hope you paid some carbon tax on top of your ticket.

-Hope you find a great bistro for lunch. Tip big, it’s our money.

-Flight to Paris that’s a long way. Must be at least $200k in booze on this one.

and many more Replies, some not so nice.

—————————————–

Sublime.

What got me was there were 1.8 thousand likes (I’d say bots or paid to Like after reading the Replies, about 20:1 not happy).

https://twitter.com/JustinTrudeau/status/1128636418375471104

Poor Justin, just can’t win for losing.
..

Well he did offer up some timber and steel to France…. which will be inter-sexed approved after C69

#81 akashic record on 05.15.19 at 8:10 pm

#77 J. Canuck on 05.15.19 at 7:53 pm

#55 Lisa Power
food is more expensive and more limited (forget getting anything organic in NL in winter)

…………………………
You left the Maritimes for organic veggies? What a sensitive little creature you are.

What’s sensitive about not stomaching round-up and other monsanto delicacies?

#82 Charlie McCarthy on 05.15.19 at 8:10 pm

#14 David

“Yet not so hot that you dummies in Toronto can’t sell out and live the high life.”

Toronto dummies are doing that in droves cowboy. Real dummies who bought 30 years ago in Toronto and now cash out and buy in places around the province and pocket a cool million tax free. Two of my neighbours have done this in the past year. The dummy is you and your hockey team is a joke!

#83 oh bouy on 05.15.19 at 8:10 pm

@#42 50 YEARS OF MAPLE LEAF INCOMPETENCE! on 05.15.19 at 6:33 pm
“In a time when geography’s increasingly irrelevant with online, remote employment going mainstream – what’s stopping you from seeking a better place? ”

So true, so true. Leave the GTA fifth-rate swampland asap, and get to experience Real Canada, where some sports teams actually win things!!

And by leaving Toronturds and GTAholes behind, you may save yourself from being a victim of psychopathic, narcissistic GTA road rage, too!

https://globalnews.ca/news/5276391/highway-410-hit-and-run-video/

WHAT ON EARTH IS WRONG WITH YOU SICK F***S IN THE GTA!!!!!?????
_____________________

someone needs a hug.
lol.

#84 yorkville renter on 05.15.19 at 8:11 pm

#74 – maybe lately, yes… but the roles have been reversed as well. We cant complain about transfers, as my taxes support northern Ontario and rural parts as well. We’re all in this thing called Canada together.

#85 Lisa Power on 05.15.19 at 8:13 pm

#77 J. Canuck
Where did I say I left the Maritimes for organic veggies?? When you learn to read, you will notice it was a comparison of the differences between NL and BC.

#86 Captain Uppa on 05.15.19 at 8:18 pm

>>#57 Damifino on 05.15.19 at 7:11 pm
#39 Captain Uppa

The insecurity and vitriol of those that hate on Toronto is palpable on this forum.
————————

So, how do you think YVR feels?>>

I feel your pain. People just love to hate on other peoples’ home cities. It’s bazare.

#87 Flop... on 05.15.19 at 8:18 pm

Flop’s Deal of the week.

This is the segment where we take our boots off of the neck of Greater Vancouver real estate for a minute and try to find some value for people looking below the million marker.

Maybe these guys in Port Coquitlam found a little bit.

Photos are a little dire, but it is at the bottom of the market for a reason.

The details…

3526 Coast Meridian Rd.

Just sold for 585k.

Fixer upper or bulldozer to be determined, but less than 600k for a detached house.

I could fix it…

M44BC

https://www.zolo.ca/port-coquitlam-real-estate/3526-coast-meridian-road

#88 Charlie McCarthy on 05.15.19 at 8:18 pm

#39 Captain Uppa on 05.15.19 at 6:19 pm

” The insecurity and vitriol of those that hate on Toronto is palpable on this forum.”

There is a single word for the cause of the vitriol. Jealousy. They see Torontonians pocket a cool million tax free like two of my neighbours did this year and head to other parts of the province. They can only dream of such good fortune…

#89 -=jwk=- on 05.15.19 at 8:19 pm

@peterfromcalgary

Dated home on a tiny lot so close to your neighbours you can hear them sneeze?

The same home in Ottawa would be on a 55′ lot and back onto the greenspace (50,000 acre backyard…)

#90 IsleofVanMan on 05.15.19 at 8:25 pm

#25 Mike in Airdrie

Weather is the reason people don’t move to affordable cities. If you don’t mind 8 months of winter head over to Alberta.

What city that I mentioned has 8 months of winter? – Garth

—-
Happy vancouver renter here. I had the opportunity to escape Edmonton several years ago to relocate to Van. I would never go back to that prairie wasteland… not even for a visit. Edmo is an arctic dump hole that does have legit 8 month winters. Maybe not every year but take for example this past winter when it started snowing in early September and didn’t really stop til early May. The short summers are typically mosquito infested and it’s also thunderstorm monsoon season. It rains more there in the summer than it does in Van. The lakes nearby to edmo are swampy and the rivers are brown.
Fortunately in my trade (HVAC/R), the work is plentiful in Van lately and the wage actually pays slightly more in BC vs Alberia now. If you’re not making a premium over BC to work there, then might as well stick to BC… or at least go to Calgary with milder winters and the Rockies nearby.

#91 Captain Uppa on 05.15.19 at 8:25 pm

#>>61 Headhunter on 05.15.19 at 7:18 pm
#39 Captain Uppa on 05.15.19 at 6:19 pm
If you don’t like GTA, then don’t. But it is the epicentre of Canada whether you like it or not.
______________________________________

Im reading your mail. It’s the “smugness” of the GTA that rubs peeps. Hey I grew up in DonMills from 1970-90 when you could drive anywhere in the GTA in 15 mins!

But thats the vibe in the 416. Not everyones thing I agree.>>

While I don’t entirely disagree with the assertion that SOME smugness resides in Toronto (mostly inner core, it is still the financial center of Canada.

Now if you look around at people on this forum who live nowhere near Toronto, they bring the smugness hard as they rant about hating Toronto and puffing their own chests.

It’s not a competition. Live where you are happy. Simple.

Lastly, if Toronto is such a hellish wasteland, why do people from all over the country flock to it? I also know a lot of people who moved from Toronto to Vancouver for the west coast lifestyle.

If you can’t afford GTA or YVR, fine. But there are people who can and like those cities. Get over it.

#92 Chimingin on 05.15.19 at 8:26 pm

#54 – “. Land is almost done and Brampton will no longer have any room for new builds.”
__________________________________________

Thank Dog for that. Brampton is the armpit of Ontario.

#93 crowdedelevatorfartz on 05.15.19 at 8:29 pm

@#56 Commie Con
“Communist conservatives dont wait in line. They DEMAND that taxpayers money goto them. They demand taxpayers money not be protected via B-20 as the communist conservative leader tells the parasite realtors, bankers and mortgage lenders communism for the rich will return. Never once have the communist conservatives said the government should not interfere in the free market via CMHC. Why? Because the communist conservatives benefit the most. These lazy parasites dont want to work. The laziest and most greedy are the communist conservatives. Look at doug ford stealing from the poor to give to the wealthy communists who love socialism for the rich and free markets for everyone else….”

+++++

Ladies and Gentlemen.
An anti Conservative, socialist wind up doll…..
with rabies.

#94 gfd on 05.15.19 at 8:31 pm

#13 Not So New guy on 05.15.19 at 4:54 pm
Something tells me that sometime after October we will be hearing about a change of methodology regarding the counting of workers that led to those 100k+ jobs

Just like they no longer count people who are no longer looking for work as unemployed

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

You are not suggesting state of “full employment” by Christmas, are you?

#95 dakkie on 05.15.19 at 8:34 pm

The Most Splendid Housing Bubbles in Canada Deflate Further

https://www.investmentwatchblog.com/the-most-splendid-housing-bubbles-in-canada-deflate-further/

#96 Tony on 05.15.19 at 8:37 pm

Have you seen the property tax increases in some of the cites around Vancouver like Richmond B.C.? Nothing will kill a real estate market faster than property tax increases at 7 to 10 times the annual inflation rate. Well someone has to pay for these ghost towns and ghost cities so property taxes will go through the roof. Everyone says the bottom in real estate will come around the year 2034 when the U.S. social security officially goes broke.

#97 crowdedelevatorfartz on 05.15.19 at 8:38 pm

@#76 Akashic Record
Re Flop
“No Canadian data, eh?”

+++++

Not necessary.
The info lets us know if investing in solar is worth it.
And yes, it may depend on where you live.
Cloudy Germany is cutting coal and investing in solar.

Batteries are the game changer as owners of 5+ year old Teslas are about to discover.
Expensive.
But in the cold climes of Canuckda…there are solar alternatives……that dont involve batteries.

https://www.latitude51solar.ca/residential-solar-water/solar-vacuum-tubes

#98 Vampire Studies (post grad) on 05.15.19 at 8:42 pm

Gosh. Look how many renters there are in Montreal

http://www.rentalhousingindex.ca/en/#comp_cd

Just who is buying then? While I don’t doubt Montreal
has its fair share of wealthy renters, I bet that owners
there generally earn higher incomes. what would this do to the price/income ratio? It would raise it.

#99 NoName on 05.15.19 at 8:44 pm

#65 Dolce Vita on 05.15.19 at 7:27 pm

You know what would be great thing on twitter, few buttons, like as a genuine like, saved for future reference, something to follow up etc. But fb thums up, and Twitter harts are deciving likes. Instagram is not bad you have 2 options like and “file”. And maybe addition sinister half truths and fake news button.
But that would make sense so i dont think it will be happening any time soon.

#100 akashic record on 05.15.19 at 8:56 pm

#95 crowdedelevatorfartz

Thanks. Can you recommend good brand of solar vacuum tubes? I am actually thinking of getting it.

#101 Cramar on 05.15.19 at 9:06 pm

#25 Mike in Airdrie on 05.15.19 at 5:33 pm
Weather is the reason people don’t move to affordable cities. If you don’t mind 8 months of winter head over to Alberta.

What city that I mentioned has 8 months of winter? – Garth

—————-

Winter IS the reason to move to an affordable city. Windsor’s winter lasts about 3 months, maybe four. Not exactly as temperate as southern B.C., but more sunshine. And housing is 1/4 to 1/3 the price.

#102 islander on 05.15.19 at 9:27 pm

https://www.theglobeandmail.com/canada/article-bc-to-hold-a-public-inquiry-into-money-laundering/

Mr. Horgan said this move (calling a public inquiry into how money laundering has corroded the provincial economy, inflated B.C.’s housing market etc.) was deemed inevitable after two recent reports into real estate – triggered by the collapse of the province’s largest criminal money-laundering case in history last November – uncovered problems “far worse” than his government had initially thought.
“In a very short period of time, they collected information that I know shocked everyone in this room and all British Columbians.The commissioner is not constrained in terms of his timelines; he can go as far back as he needs to to get answers for British Columbians.”

None of the above is really a shock to local British Columbians.
After Expo 1986, YVR saw land prices rocket. Developers began paying more for land while cutting back on construction costs.
Poor construction practices lead to the ‘great leaky condo debacle’ of the 90’s.
1998 saw the release of Dave Barrett’s, “Commission of inquiry into the quality of condominium construction in British Columbia.”
The Socreds/ Liberals, every real estate company in town, as well as disillusioned owners were only to glad to look the other way when offshore money (and/or undeclared funds from dubious sources) started flowing in to the real estate market in YVR. (Hong Kong reverted to Chinese control in 1997).
Best deal ever to have clients who don’t actually want to live in the crappy products they are buying!
Those who chose to immigrate to YVR with one or more family members, often decided to tear down existing housing stock. And why not? Most of the houses were creaky, rotten, leaky, poorly designed post war dumps. Improved housing stock, improved neighbourhoods….prices start to rise. What could go wrong?
The extremely rapid rise of real estate prices in the early 2000’s offered a way out for locals stuck with shoddily built product from the 80’s and 90’s. Lots of money floating around for ‘renovation, reconstruction, remediation’ and lots of eager buyers.
Garth is not exactly wrong with his stand regarding YVR real estate. It really is a case of “Do not be deceived, God is not mocked; for whatever a man sows, this he will also reap.”

You might wish to read this. – Garth

#103 Vampire Studies (post grad) on 05.15.19 at 9:29 pm

wage creep. It’s official if not noticeable day-by-day

http://www.bdso.gouv.qc.ca/pls/ken/ken21[email protected]5&p_lang=2&p_m_o=ISQ&p_id_ss_domn=836&p_id_raprt=2305

Looks like wages in Quebec went up over 40% from 2000 to 2015. Given even “official” inflation, this would
definitely feel like treading water, but still a gain
nominally.

#104 BillyBob on 05.15.19 at 9:32 pm

10 oh bouy on 05.15.19 at 4:48 pm

Folks want to be where their friends and family are.
Not to mention the job opportunities.

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

Good grief it’s like the whole GTA is populated with high school children?

Take your family with you and make new friends. It’s not like the ones you think you have in Toronto actually have time for you, they’re too busy working three jobs and maintaining their Instagram feed. You can socialize with them on Facebook from anywhere as well as you can from T-dot.

As far as job opportunities, I found far more outside Canada than in. Perhaps because more people live outside Canada than in?

Narrow little minds, narrow little thinking.

#105 Baron Black of Crossharbour on 05.15.19 at 9:34 pm

Thank-you El Presidente…

#106 Vampire Studies (post grad) on 05.15.19 at 9:36 pm

It’s official

https://housepriceindex.ca/#chart_change=qc_montreal

Montreal prices have tripled. over 26.5 years. guess it’s all how you look at it….

#107 The Great Gordonski on 05.15.19 at 9:44 pm

The inevitable ‘cure’ for sticky prices is the pounding drum of everyday life. Court ordered sales, bankruptcies, death, divorce, transfer, illness etc etc etc. As much as late sellers are dissapointed by falling prices the neighbors are forced into a current market, like it or not. All prices will fall when the preponderance of sales stats adjust down.

Stock markets boom when real estate collapses. Also, too bad the hedge funds and retail climate crazies caught Trump Derangement Syndrome and missed out on two years of screaming appreciation. The meltup will occur for the next five years as Trump is a sure winner for a second term. If you don’t think so then you’re listening to the hype and not paying attention. Trudeau is gone, get used to it. The stock market is a forward looking indicator. Trudeaus American financiers are running away as fast as foreign capital. There’s blood in the streets. If you’re quezy put a clothes peg on your nose or you’ll miss a generational recovery already up thirty percent yoy.

Climate change is a complete farce, it’s a tax mechanism, wake up, because everyone who matters has.

https://business.financialpost.com/opinion/lawrence-solomon-finally-its-safe-for-the-whistleblowers-of-corrupted-climate-science-to-speak-out

I watched a Netflix doc on how prohibition was sold, amazing similarity to the climate frenzy, terror and brainwashed children. All for nought. As an investor you’d better slap yourself into tomorrow. Climate politics is a fad that passed.

#108 BillyBob on 05.15.19 at 9:45 pm

[email protected] Captain Uppa

Maybe one of the reasons so many people make fun of Toronto (besides the fact it is the definition of forgettable mediocrity) is because of the way it triggers folks like yourself?

I mean how many defensive posts have you written on this thread alone? Yes, you have it figured out. Everyone is just jealous. hahahahah!

Dolce Vita may be super-annoying, but at least he actually has something to brag about.

If you’re really so pleased about your choice of life in the Golden Horseshoe why would you even care what anyone else thinks? Hmmm.

#109 not 1st on 05.15.19 at 9:46 pm

Good Job Canada. Guess you aren’t as clueless as I thought.

Senate committee recommends feds don’t proceed with tanker ban bill: Alberta senator

https://globalnews.ca/news/5282395/senate-committee-recommendation-against-bill-c48-oil-tanker-ban/

Now find the nearest recycle bin and shred that idiotic document.

#110 Smoking Man on 05.15.19 at 10:03 pm

https://www.bnnbloomberg.ca/rosenberg-on-canada-s-record-jobs-gain-i-don-t-give-it-an-a-1.1257136

I’m not the only one that thinks the job report is BS

#111 Dazed and CONfused on 05.15.19 at 10:05 pm

Breaking News:

Cadet Bone Spurs (yeah, that guy, America’s most infamous, hypocritical serial liar, who pledges daily to tear gas ‘known felons’ from crossing the border into America) just pardoned Lord Balk of Crossdresser (yeah, that guy, aka CONrad Black, infamous serial pillager of shareholder equity) this evening.

Almost blew my buck-a-beer out my nose reading that.

There should be a Bridle Path mansion coming up for rent very soon, as the Odour of Canada recipient flees our country to re-join his buddy, tRump, in Florida.

#112 Pfft on 05.15.19 at 10:28 pm

@#102 BillyBob on 05.15.19 at 9:32 pm
10 oh bouy on 05.15.19 at 4:48 pm

Folks want to be where their friends and family are.
Not to mention the job opportunities.

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

Good grief it’s like the whole GTA is populated with high school children?

Take your family with you and make new friends. It’s not like the ones you think you have in Toronto actually have time for you, they’re too busy working three jobs and maintaining their Instagram feed. You can socialize with them on Facebook from anywhere as well as you can from T-dot.

As far as job opportunities, I found far more outside Canada than in. Perhaps because more people live outside Canada than in?

Narrow little minds, narrow little thinking.
_——_————————————

Hilarious comment coming from you of all people.
Maybe the least intelligent of all the blog dogs.

#113 MF on 05.15.19 at 10:37 pm

106 BillyBob on 05.15.19 at 9:45

Mediocrity? Ah no. The only people who “make fun of” Toronto are the jealous.

It’s similar to why my dad hates the Yankees: because they win.

Dolce’s coverage was balanced. The gist of it (which you weren’t smart enough to get) was that Italy is good for retirees 65+, and that’s it.

That’s completely different than Toronto, which is thriving and the place to be if you are younger than 65.

MF

#114 Ms. Fool on 05.15.19 at 10:38 pm

My comment is about yesterday’s blog particularly and bofo numbers in general.
I got ‘hired’ in April and when I was reading my contract one clause said the company wasn’t obliged to give me minimum working hours in a week. This raised a red flag but I signed anyway hoping for the best. Well, it’s the middle on May and I haven’t worked a single hour. Technically, I’m employed but I’m not getting paid because they don’t have work for me. The interesting thing is that six other people were hired at the same time than I. It seems that the economy is doing really great, right?

#115 T-Rev on 05.15.19 at 10:57 pm

Calgary is the most underrated city in the country. Better outdoor lifestyle than Vancouver. Better job opportunities than Toronto. Better quality of life than either.

#116 Ronaldo on 05.15.19 at 11:28 pm

#108 Smoking Man on 05.15.19 at 10:03 pm
https://www.bnnbloomberg.ca/rosenberg-on-canada-s-record-jobs-gain-i-don-t-give-it-an-a-1.1257136

I’m not the only one that thinks the job report is BS
——————————————————————-
It’s total BS. From minus 7200 in March to 106000 in April. No way. Still think they put the decimal in the wrong place. Must have been a millennial that did up the report.

#117 Seymour Butes on 05.15.19 at 11:39 pm

Halifax is one low pressure system after another. The weather is absolute garbage, bleh. If you hate sunlight it’s a great place to live. I mean it’s great during the three months in the summer, but the winters are crap, with never ending rain/snow/rain/snow.

Much better winter this year than Toronto. – Garth

#118 Moh on 05.16.19 at 12:23 am

#90

Call it what you want but a new detached doesn’t fetch for less than a million. Much better than any mold box in Toronto or any old house in any of the suburbs.

#119 BigAl (Original) on 05.16.19 at 12:35 am

#26 yvrguy on 05.15.19 at 5:39 pm
After the Public inquiry is all said and done, the BC Libs won’t even have official party status.

Looking forward to seeing Crusty and Gregor take the stand before they’re sent to the clink. Rennie too.

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

You will not see any such thing. These public inquiries are just a phony bone to throw to the gullible public to fool them into thinking something is being done. And it works every single time. Nobody goes to jail – ever. Nobody loses their job – they just get shuffled within the network. Millions are spent on “consulting” and “implementing recommendations” and such. Lawyer types and reporters get an easy multi-year project for their power-panel discussions and special reports. And nothing changes in the end. Any actual wrongdoing uncovered gets mired in parliamentary privelege and legalese to the point where, even if the crown was interested in prosecuting (and that’s a big ‘if’), they just say they don’t have the manpower, or it’s too complicated, or it’s unlikely to succeed, or any number of ready-made excuses.
Everyone gets to act all important-like and serious, being flown around the country (or province) and hoteled and wined and dined on the taxpayers dime, lawyers make millions, and a big nothing burger in the end.
Royal Commission should be included under the definition of Farce in the dictionary.

#120 Dolce Vita on 05.16.19 at 5:01 am

#78 I’m a Lumber Jack

“Well he did offer up some timber and steel to France…. which will be inter-sexed approved after C69”.

THAT was good.

You’ll be happy to know the Standing Senate Committee on Transport and Communications has recommended against proceeding with Bill C-48 (recommend that the Liberals scrap it [and its inter-sexed clause]).

Just when you think things are starting to turn around, the “Gift that keeps on giving” (a.k.a., our PM) came up with this in France about 17 hours ago:

Trudeau government to release “approved” list of newspapers and websites

https://www.thepostmillennial.com/trudeau-government-to-release-approved-list/amp/?__twitter_impression=true

Twitter has has yet to come up with a reaction to that, still too busy hazing Justin about his Paris boondoggle. Cannot wait to read the reaction to that nugget from Orwell’s book.

————————————————-

Curious about your Commenter name…it beg’s the follow on question: And does that mean you’re also “OK”?

(could not resist the Monty Python barb).

;-)

#121 Dolce Vita on 05.16.19 at 5:13 am

#97 NoName

There are times you read some of the Twitter Replies and you just want to start punching your own head. I like the humorous Replies, shows there are some very clever yet light hearted people out there.

Twitter trying to be positive with only Likes (I can still remember reading some of Jack’s first posts, usually from his favorite Latte Espresso bar with photo’s of his bike, and outdoor coffee table…a Lefty Cognoscente from day 1).

To me the truth comes out in the Replies.

Although, it would be nice to have a one of those Roman Colosseum ala Caligula, Robespierre off with their heads, thumbs down buttons.

#122 NoName on 05.16.19 at 6:20 am

@DV

Kaligula, you ate saying, i remember him from history in grade school he was peace of work… Peak on a internet (history dot com) to refresh my memory funny, it says he was spending faster than tax collectors could collect…

Now that we are talking Italian, what is going on over there? You guys made to top spot?

https://mobile.twitter.com/spectatorindex/status/1128902902473342976

And bonus link about electric cars, my favorite kind. ;-)

Miniaoc got her self instagram. Definitely watch video#3, both parts.

https://instagram.com/miniaoc?igshid=1t66mscmkwr65

#123 Captain Uppa on 05.16.19 at 6:43 am

>>#106 BillyBob on 05.15.19 at 9:45 pm
[email protected] Captain Uppa

Maybe one of the reasons so many people make fun of Toronto (besides the fact it is the definition of forgettable mediocrity) is because of the way it triggers folks like yourself?

I mean how many defensive posts have you written on this thread alone? Yes, you have it figured out. Everyone is just jealous. hahahahah!

Dolce Vita may be super-annoying, but at least he actually has something to brag about.

If you’re really so pleased about your choice of life in the Golden Horseshoe why would you even care what anyone else thinks? Hmmm.>>

I don’t care but I find it interesting that the vast majority of people on here bash Toronto with such fervor.

My frustration, particularly on this thread, is this idiotic debate over which city is better than the other. It’s a subjective topic and people are arguing as if it’s not.

Your inclusion of “definition of forgettable mediocrity” is a perfect example of that.

Finally, where did I ever say people were jealous of Toronto? What I said was is that most here have an irrational hatred towards a city that is rooted in the fact it has the highest real estate prices in the country.

So who is really “triggered”?

#124 Gravy Train on 05.16.19 at 7:30 am

#69 Flop… on 05.15.19 at 7:35 pm
“Visualization, mainly for Gravy Train…” Thanks for the vindication, Flop. I didn’t know you read my comments. Over the past 50 days, our average daily solar panel power production is 28.83 kWh and, at $0.1668/kWh, our average daily savings to date are $4.81—which is right on target! Our power company installed a bidirectional meter, so any power we produce but don’t (or can’t) consume is sold back to the power company. So far, we’ve sold 533 kWh (or $88.90) back to the power company. Cool, eh? Oh—and you can expect a sternly-worded comment about your post from ‘AB Boxster’ or ‘not 1st’ any time now! (They’re both ideologically opposed to renewables of any kind, even if it saves them money.) :P

#76 akashic record on 05.15.19 at 7:50 pm
“No Canadian data, eh?” Reading comprehension is not your strong suit, is it? Flop quoted from the article, “Is Solar For You? Provided you live in an area […] that is not entirely dark during parts of the year, solar installation will likely pay for itself.” :P

#125 dharma bum on 05.16.19 at 7:44 am

#54 Moh

Land is almost done and Brampton will no longer have any room for new builds.
——————————————————————–

Brampton.

Ughhhhhhhhhhhhhh.

Talk about horrific suburbs.

Worst. Place. In the GTA. Ever.

Don’t believe me? Well, even Garth agrees. He said so:

https://www.greaterfool.ca/2011/11/22/burbs/

#126 Felix on 05.16.19 at 7:46 am

Don’t get your hopes up, Garth.

Conrad Black may have been pardoned, but you will never be pardoned for your egregious and totally unacceptable

ANTI-FELINE RACISM!

(but you could try to make a start by replacing today’s stupid picture with three Cats instead)

#127 TurnerNation on 05.16.19 at 8:05 am

Numbers don’t matter it’s all about thought control.

Centuries ago in the Dark Ages as long as you talked nice about the King and The Church you’d be okay.
Now, you will be “de-platformed” online over a multitude of ForbiddenTopics. Progress?

Our elected/appointed Federal leaders openly attack each other over the most adundant element on earth (cabon).
Ohh look, there’s some carbon stuck on the sole of your shoe. Monster!
Science? Nope it’s Mind Control.

If only we didn’t have the blazing hot ball of heat in our skies all day long. Bummer. It’s science.

#128 crowdedelevatorfartz on 05.16.19 at 8:08 am

@#103 Lord Black of the Flies
“Thank-you El Presidente…”

++++++

Good one.
I’m sure Baron Black will “return the favour” and have a massive book written about Trump before his Presidency is up….

#129 TurnerNation on 05.16.19 at 8:17 am

And Air Kanada just made an offer for Air Transplat.

A good olde Duopoly we’ll have. WorstJet and Air Kanada.

#130 crowdedelevatorfartz on 05.16.19 at 8:40 am

@#98 Akashic Record

I’ve been looking around for a while and this company was making them for the Canadian market.

Anything that can generate solar heat in an Albertan winter gets my attention.
And no expensive batteries with a 5 year life span, no chopping wood, etc.

Just a vacuum tube.

https://www.latitude51solar.ca/residential-solar-water/solar-vacuum-tubes

Looks like they may have been bought out but the product seems well researched and developed.

#131 Headhunter on 05.16.19 at 8:57 am

#127 TurnerNation on 05.16.19 at 8:17 am
And Air Kanada just made an offer for Air Transplat.

A good olde Duopoly we’ll have. WorstJet and Air Kanada.
____________________

Everything in Canada is a monopoly.. adults know this to be true. We pay dearly for everything here. Elites skim everything through their schemes.

1 only has to look at Telco, Food, and fuel. Basically this is their mantra.

‘its not enough for me to be rich you have to be poor”

#132 David on 05.16.19 at 8:57 am

The job numbers good, but mainly based on US economic expansion and the federal government hiring binge. It’s not sustainable and likely inflated.
On moving, sorry but going to Quebec is insane. There is no opportunity in the Maritimes. The best place to go at the moment is the States. It just is.

Sounds like a comment from someone who’s never lived in the areas mentioned. Typically Canadian. – Garth

#133 David Hawke on 05.16.19 at 9:03 am

Love the link you shared in post #100, sure shows the integrity of ‘Dipper’ politicians!

#134 David Pylyp on 05.16.19 at 9:09 am

Hope we survive the FOREIGN Money Laundering witch hunt.

“When history is written, corrected and understood, it will show Canadians created a real estate bubble pricing each other out of decent accommodation and indebting an entire generation. A few savvy offshore guys just went along for the ride. But, for now, denial and ignorance will continue to finger others for our own reckless actions.”

Well said.

David Pylyp
Toronto

#135 Evangeline on 05.16.19 at 9:10 am

#126 “Good one.
I’m sure Baron Black will “return the favour” and have a massive book written about Trump before his Presidency is up….”

He already did.

“Donald J. Trump: A President Like No Other
$32.94by Conrad Black
Donald J. Trump: A President Like No Other is a book by Conrad Black (Regnery Publishing, 256pgs) released 2018-05-14.”

Maybe he’ll write a trilogy.

Brian Mulroney is another of Trump’s friends. He attended Trump’s New Year’s Party at Mar a Lago after Trump had won and before he was inaugurated.

#136 crowdedelevatorfartz on 05.16.19 at 9:23 am

Hmmmm.

Another month, another “professional development day” coincidentally linked in to a long weekend.

Who knew teachers were so “unprofessionally undeveloped” they need a day a month for extra refresher training.

Hands up for all you teachers that show up to work on Friday for “professional development”.

Hands up for all you teachers that just take the extra Looooong weekend.

I thought so.

#137 tilDebtDoWePart on 05.16.19 at 9:30 am

flood of cheap money has the economy saturated in debt … the sponge can only hold so much

#138 Flop... on 05.16.19 at 9:46 am

#122 Gravy Train on 05.16.19 at 7:30 am
#69 Flop… on 05.15.19 at 7:35 pm
“Visualization, mainly for Gravy Train…” Thanks for the vindication, Flop. I didn’t know you read my comments.

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

I try to help out as many people on here as possible.

To do that you have to read their posts and try to see where they are coming from.

I don’t send the point in moaning about everything.

Better to try and help each other out.

People and Garth help me out on here, so I try to return to favour and I changed my outlook on posting once Boom passed away…

M44BC
M64WI

#139 Captain Uppa on 05.16.19 at 10:10 am

>>Sounds like a comment from someone who’s never lived in the areas mentioned. Typically Canadian. – Garth>>

Thank you for saying it.

Though could you not be guilty of this as well with some of your comments on certain areas, namely suburbia?

Nope. I have been urban, rural, suburban and occasionally subterranean. – Garth

#140 What I think I might know on 05.16.19 at 10:15 am

Does anyone with half a brain really think that rates will ever rise “significantly” ever again? Nonsense.

#141 entropy on 05.16.19 at 10:27 am

Timely advice.
Getting out of the gta has been on my mind for over a decade, and I think I may actually go through with it…finally.

#142 Moh on 05.16.19 at 10:30 am

#123 & #90

Some of us are living the best lives in Brampton. Houses, cars, sexy wife, big family. Every night during Iftar I go to my parents palace and enjoy a great meal in their dining room in their quite green neighborhood. Some of us call this place home and have been spoiled by the fruits of life living in the city.

Call it what you want but when visitors from GTA or out of country visit us, they always compliment how nice of homes we live in and how nice and quite places we live in. We left Toronto in the mid 90’s due the the crime of our neighbourhood and crappy houses and have been living in new homes in Brampton since then and have never looked back.

#143 Dogman01 on 05.16.19 at 10:43 am

Not sure if this has been discussed on the blog:

Updated flood plain maps will send the housing market underwater

https://www.cbc.ca/news/opinion/flood-plains-1.5135336

“Oh! Oh!,” says Prof. Blair Feltmate, delighted to have been asked. “There is going to be a massive devaluation of the housing industry in Canada, guaranteed. A million will turn into $500,000 very rapidly.”

During the Calgary flood we watched houses with the Bow river running through them. Literally running through the house.

Several years later they are all re-built.

#144 AB Boxster on 05.16.19 at 10:46 am

#122 Gravy Train on 05.16.19 at 7:30 am


So far, we’ve sold 533 kWh (or $88.90) back to the power company. Cool, eh? Oh and you can expect a sternly-worded comment about your post from ‘AB Boxster’ or ‘not 1st’ any time now! (They’re both ideologically opposed to renewables of any kind, even if it saves them money.)

—————————————

Ideologically opposed to renewables?
Did you read that in a book or something Gravy Boat.

Renewables are a great idea. Except that they currently don’t cannot supply enough energy to make a cost effective difference in today’s energy needs.

You see its based on science.
Here’s a pretty interesting interview with a guy that breaks it all down to science.
It should be required reading for all the eco-idiots that believe that wind and solar power are going to replace fossil fuels in the next decade.

https://omny.fm/shows/danielle-smith/the-new-energy-economy?in_playlist=danielle-smith!podcast

Now, if you listen particularly from minute 6:30 and onward you will hear how a concept like having solar panels on your house, and selling the power back to the grid, seems to make great economic sense.
Well, especially to the guy doing the selling back to the grid. Like you, saving $88.90 by selling back to the grid.

However, in order for you to do this, unless you are full off grid, you are taking advantage of the fact that a massive power infrastructure has been created, (its called the electrical power grid) that allows consistent, clean, full time power to be delivered to your house, all the time.

So, sure, you put solar panels on your roof, save some money on electricity, and even make $88.90.
Great for you right?

But the only reason you are able to do this is that society has agreed to create a massively expensive power grid system, in order to provide its citizens with stable, reliable, continuous power, which solar and wind are definitely not.

So, if you were to pay nothing for 80% of your power, and even make your $88.90, yes you are actually saving your money, but at the expense of everyone else who cannot do it. Because, you want the benefits of solar, but you are now not paying the true cost needed to having a massive grid that is needed to back you up, when your solar or wind fails to provide ‘all the time energy.’

Take it to its extreme. Or to the econ-nutjobs, to their Nirvana.
If everyone were to generate 60% of their energy through solar panels on the roof of their house, and even sell back to the grid, the power grid would go bankrupt.
That, or energy companies they would have to charge a massive amount for everyone to still have the benefit of stable continuous, reliable power, that everyone wants. Power that solar and wind cannot deliver.

So right now, because the electric grid is really the only way to provide reliable power at all times, the fact the you have solar panels, right now, today, saves you some money. Hooray for you.
But only because you are gaming the system and forcing others to pay more. Because unless you are willing to pull yourself directly off of the grid, you still want the ability to have the grid available to you, for power when you want it, and when solar can’t provide it.

You see Gravy Boat, the fewer the people you have to amortize costs over, the higher the costs for those people.
Its Economics 101. Look it up in your textbook.

Same scenario for electric vehicles.
Very cool concepts, but no-one who buys one truly pays the full cost of owning one.
Owners pontificate about how they pay nothing to charge their cars at work. Do you really think that if everyone have an electric car, that everyone would be able to charge their car for free at work?

Do you have any idea of how massive the electrical grid would have to be built, in order to charge all of those cars every night. Do you think that this will come at no economic, social or environmental cost?

If we were to eliminate very fossil fuel burning car of the road today, do you think that your friendly government will just happily forgo all of the fuel taxes that they currently collect from the sale of energy products.

So, yes, today, you are saving some money, and even making $88.90.

And maybe some day everyone in the world can have solar panels on their roofs, or we will all be driving electric vehicles. Maybe bought without having to be bribed by government handouts. (That again, help the Tesla owner, but that the rest of us pay for)

But to foolishly believe that we will all be saving vast amounts of money by doing, so is a huge pipe dream.

That you are doing so today, is only because you are working the system.
If you had to pay the full cost required for you to have your solar panels, and still have your access to the grid, you would not be so happy.

#145 Ponzius Pilatus on 05.16.19 at 10:51 am

#130 David on 05.16.19 at 8:57 am
The best place to go at the moment is the States. It just is.

————
You not following the news?
The south is turning back the clock 150 years.
if Trump wins anoher term, we may just see The Civil War Part II.

#146 n1tro on 05.16.19 at 11:12 am

#140 Moh on 05.16.19 at 10:30 am
#123 & #90

Some of us are living the best lives in Brampton. Houses, cars, sexy wife, big family. Every night during Iftar I go to my parents palace and enjoy a great meal in their dining room in their quite green neighborhood. Some of us call this place home and have been spoiled by the fruits of life living in the city.

Call it what you want but when visitors from GTA or out of country visit us, they always compliment how nice of homes we live in and how nice and quite places we live in. We left Toronto in the mid 90’s due the the crime of our neighbourhood and crappy houses and have been living in new homes in Brampton since then and have never looked back.
———————
Moh(ammed)? The comments about Brampton is not about the houses (which are quite nice and spacious) but a veiled jab at the demographics that live there.

#147 Not 1st on 05.16.19 at 11:12 am

Nobody can say they truly lived rural until they have lived in this country’s prairies. Then you will know about driving a hr to get subsidized milk. Garths Estevan experience is what people here do everyday.

#148 Gravy Train on 05.16.19 at 11:30 am

#138 AB Boxster on 05.16.19 at 10:46 am
“You see, Gravy Boat […].” Well, Flop, just as I predicted, he replied right on cue! Do you want to refute each and every one of his points, or shall I? I’d rather go work out at the gym! :P

#149 T on 05.16.19 at 12:07 pm

#111 MF on 05.15.19 at 10:37 pm
106 BillyBob on 05.15.19 at 9:45

Mediocrity? Ah no. The only people who “make fun of” Toronto are the jealous.

It’s similar to why my dad hates the Yankees: because they win.

Dolce’s coverage was balanced. The gist of it (which you weren’t smart enough to get) was that Italy is good for retirees 65+, and that’s it.

That’s completely different than Toronto, which is thriving and the place to be if you are younger than 65.

MF

—–

You are either the biggest moron or troll in these comments.

#150 Ryan on 05.16.19 at 12:09 pm

Does anyone with half a brain really think that rates will ever rise “significantly” ever again? Nonsense.

**************************************

Because it’s different this time?

#151 IHCTD9 on 05.16.19 at 12:30 pm

#7 UnknownComic on 05.15.19 at 4:28 pm
We are moving to Windsor from Kingston. Places are way less expensive, and the weather is better, at least in the winter.
____

Serious? That’s a big change of scenery. I’ve always thought Kingston was pretty sweet all around. Great place to start a small business doing residential type work (ie. Landscaping or similar), lots of money in Kingston…

#152 Damifino on 05.16.19 at 12:30 pm

#142 AB Boxster

Thanks for saving me the keystrokes. I tire of people willing to do only some of the math. For example, when home buyers are loath to include the opportunity cost of a down payment in any ‘own vs rent’ analysis… if they do any analysis at all.

In Germany, solar and wind account for nearly half that country’s energy requirements sporadically on about three days a year. Usually, it’s far, far lower than that.

Fortunately, fossil fuels are always there to backstop these heavily subsidized renewable when the sun and wind are taking their frequent vacations.

It doesn’t stop claims Germany is now fully half way to an emissions-free grid. Nonsense.

#153 CJ on 05.16.19 at 12:31 pm

Calgary is 10 times the city Toronto will ever be. Not even close.

#154 Steven Rowlandson on 05.16.19 at 12:36 pm

Who could live within driving distance of a job in this country without triple digit wage rates?

#155 gfd on 05.16.19 at 12:37 pm

The military report finally reveals how this got there.

https://www.popularmechanics.com/military/navy-ships/a27471645/navy-sky-penis/?source=nl&utm_source=nl_pop&utm_medium=email&date=051619&src=nl&utm_campaign=16877050

#156 jonathan on 05.16.19 at 12:37 pm

they estimate housing prices across bc inflated by 5% due to money laundering and in specific areas of vancouver this could have been as high as 20%. from the news , I am sure we will hear alot more about this.

#157 Danforth on 05.16.19 at 1:15 pm

In light of the huskies in the picture today, here’s a very important breaking husky story

Terrible story, with a very happy ending!

https://www.cp24.com/news/dog-stolen-while-tied-up-outside-east-end-store-reunited-with-owner-1.4425305

Hope they catch the thugs…but Charlie’s home!

#158 AB Boxster on 05.16.19 at 1:28 pm

#146 Gravy Train

Not my points gravy boat.

It’s just science and economics.
But as long as you keep making your $88.90 then the world is surely being saved from the evils of fossil fuels.

Is $88.90 the value of your virtue signalling?
Seems pretty cheap to me.

I guess if you can be bought with that little you should go work out.
Better to exercise the body even though the brain atrophies from lack of use.

#159 IHCTD9 on 05.16.19 at 2:20 pm

#89 Captain Uppa on 05.15.19 at 8:25 pm

Lastly, if Toronto is such a hellish wasteland, why do people from all over the country flock to it?
____

They don’t.

The only folks flocking to Toronto come from outside the country.

If you care to look 3/4 of the way down the page, you will see that Toronto loses more of its domestic population to other cities in the same province than any other place in the entire country:

https://www150.statcan.gc.ca/n1/pub/91-209-x/2018001/article/54958-eng.htm

All of the losses are made up for and then some by foreign folks moving in from mostly 3rd world countries and developing nations.

Reading between the lines of the available data is not too hard. Folks come to Toronto, stick their toe in the water, then leave for greener pastures. Might take a year or two, a decade or two – or 1 generation, but the ball is officially rolling. These are young families, and those who are planning to start a family looking for a family friendly place to sink down roots.

Toronto is heading for a demographic boom among the elderly and the foreign born if this keeps up, and IMHO – it will 100%.

#160 Sail away on 05.16.19 at 2:21 pm

#143 Ponzius Pilatus on 05.16.19 at 10:51 am
#130 David on 05.16.19 at 8:57 am
The best place to go at the moment is the States. It just is.
————
You not following the news?
The south is turning back the clock 150 years.

if Trump wins anoher term, we may just see The Civil War Part II.
——————————————————

Believe nothing that you hear, and only half of what you see. Just as all investment advice should be taken with a giant dose of skepticism, so too should all news purporting to deliver an unbiased view of the sentiment of the day.

The news story you accept is influenced as much by your own confirmation bias as by the information being conveyed.

#161 Tom on 05.16.19 at 2:21 pm

“The latest provincial stats show foreign buyer levels dropped from about 4.5% to only 1.8% in the GTA. From basically irrelevant, in other words, to completely inconsequential.”

How do you account for foreign buyers who purchase through a spouse, child or other relation who is a resident? I personally know many people who fit this model, i.e. breadwinner remains offshore, relation becomes a Canadian resident and buys RE (although admittedly my evidence is anecdotal). The net effect is that offshore money is still inflating the Canadian market even if it’s not captured by statistics. Not saying how significant an impact this does/does not have but I don’t think it can be ignored.

Sure it can be. Just do it. Bigger things to worry about. – Garth

#162 Pfft on 05.16.19 at 2:35 pm

@#151 CJ on 05.16.19 at 12:31 pm
Calgary is 10 times the city Toronto will ever be. Not even close.
_______________

LMAO.
If you say so.

#163 Sail away on 05.16.19 at 2:40 pm

#144 n1tro on 05.16.19 at 11:12 am
#140 Moh on 05.16.19 at 10:30 am
#123 & #90

———————
Moh(ammed)? The comments about Brampton is not about the houses (which are quite nice and spacious) but a veiled jab at the demographics that live there.
————–

Really? A veiled jab? Re-reading the comments, I see no veiled jab unless there’s some secret society on this blog with their own language. Can you back up your statement?

#164 JB on 05.16.19 at 2:43 pm

#8 Headhunter on 05.15.19 at 4:30 pm

herd is spooked this money laundering thing has legs, no charges need to be laid but is has people talking and talking about it.
Condo’s in the smoke are built for investors and the type of people who are washing dough. Most condos are bought as 2nd or 3rd. properties. We all know that.

50% haircut at a minimum in GTA. 50% has already taken its pound of flesh in west van.
Hook your wagon to a company thats going to get work on the 250 Million Ontario transit plan, ride out the lean years that are a coming. Ottawa same good work there for Engineers etc. Lots of development slated.

I was calling Michigan all day. Want a piece of the big auto and detroit construction boom. Will advise when get a better feel. Tons of projects there on the go.
I have Construction GC’s in Calgary and Edmonton that are hiring and have projects so not all dead there.

USA, Greece, England, Ireland, Spain, (lots more can be added to this list) already took their 30-50% hit. Not different here we are next.
………………………………………………………………….
(Condo’s in the smoke are built for investors and the type of people who are washing dough. Most condos are bought as 2nd or 3rd. properties. We all know that.)

Exactly that is one of the greatest problems with condos is that they were built for investors. Not owners who want to live in them. So when your renting neighbours want to yell at each other and have a massive fight or have a RAVE with tons of pot coming out of the vents, you got what you paid for! An overpriced apartment!

#165 Tom on 05.16.19 at 2:46 pm

Sure it can be. Just do it. Bigger things to worry about. – Garth

I’m respectfully challenging your oft stated position that the impact of offshore capital is inconsequential in the grand scheme of things. The above isn’t really an answer. Another consideration is RE purchased by corporations funded by offshore capital. How to account for this? No axe to grind, just curious how robust your argument is.

#166 What I think I might know on 05.16.19 at 3:43 pm

#148 Ryan on 05.16.19 at 12:09 pm

Does anyone with half a brain really think that rates will ever rise “significantly” ever again? Nonsense.

**************************************

Because it’s different this time?

***************************************

Darned right it is!

#167 Ubul on 05.16.19 at 3:45 pm

#157 IHCTD9

True. Exactly in that thank you very much, time to move on stage now.

#168 n1tro on 05.16.19 at 3:48 pm

#161 Sail away on 05.16.19 at 2:40 pm
#144 n1tro on 05.16.19 at 11:12 am
#140 Moh on 05.16.19 at 10:30 am
#123 & #90

Really? A veiled jab? Re-reading the comments, I see no veiled jab unless there’s some secret society on this blog with their own language. Can you back up your statement?
——————————
Maybe my bad. The “armpit” may well be an endearing term to describe a place where there coincidentally is a high concentration of a certain culture.

Vaughan…..epicenter for the all you can eat spaghetti & meatballs eateries.

#169 Not So New guy on 05.16.19 at 4:03 pm

#92 gfd on 05.15.19 at 8:31 pm

#13 Not So New guy on 05.15.19 at 4:54 pm
Something tells me that sometime after October we will be hearing about a change of methodology regarding the counting of workers that led to those 100k+ jobs

Just like they no longer count people who are no longer looking for work as unemployed

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

You are not suggesting state of “full employment” by Christmas, are you?

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

No, they only need to keep the charade going until the election

#170 Guy Fawkes on 05.16.19 at 4:05 pm

#77 J. Canuck on 05.15.19 at 7:53 pm
#55 Lisa Power
food is more expensive and more limited (forget getting anything organic in NL in winter)

…………………………
You left the Maritimes for organic veggies? What a sensitive little creature you are.
………………………..
not that I’m the organic type, but thought I could add to your geography knowledge. NL is not a maritime province, it as an atlantic province. Just sayin….

#171 IHCTD9 on 05.16.19 at 4:06 pm

#144 n1tro on 05.16.19 at 11:12 am

Moh(ammed)? The comments about Brampton is not about the houses (which are quite nice and spacious) but a veiled jab at the demographics that live there.
_____

Nahhh. You can’t crap on any part of the GTA without crapping on some ethnicity or nationality who has a majority presence there.

I Googled up some things folks feel make Brampton suck, and I came up with: bad drivers, congestion, super high insurance rates, garbage laying around everywhere, stabbings, meth labs, boring, tow truck drivers, property tax, too many stop lights, no arts, no culture, and many more.

I’ve no idea if this is accurate, but it sounds pretty much like any other borough in the GTA to me.

#172 Ustabe on 05.16.19 at 4:39 pm

Reading through the posts its not hard to imagine yourself among a bunch of bickering old ladies at the bingo hall.

You guys will argue about anything and get fairly personal about it too.

I’m fairly new here, couple or three years, but I recall when there was civil conversation and actual help proffered one to another. Even our host has evolved from less flippant to more snark. I blame you.

And you.

#173 Gigi Santos on 05.16.19 at 7:29 pm

Tell the truth. The low interest rate game is rigged and it is solely to help debt ridden Canadians and big corporations, banks with their stock markets.

Infaltion is more than 1.9%, 2.0% a year, come on.

#174 Gravy Train on 05.16.19 at 9:49 pm

#142 AB Boxster on 05.16.19 at 10:46 am
“Renewables are a great idea.” Great, we’re in agreement! Or was that sarcasm? :)

“Except that they currently don’t [and] cannot supply enough energy to make a cost-effective difference in today’s energy needs.” I am currently earning an annual after-tax rate of return on my investment of 12.81% (assuming annual inflation in power costs of 2%) for each of the next 25 years at least. The payback is 8.5 years. How is that not cost-effective?

“You see [it’s] based on science.” What is?

“Here’s a pretty interesting interview with a guy that breaks it all down to science.” You’re referring to Mark Mills of the Manhattan Institute for Policy Research.
https://en.m.wikipedia.org/wiki/Manhattan_Institute_for_Policy_Research

“It should be required reading for all the eco-idiots that believe that wind and solar power are going to replace fossil fuels in the next decade.” Ad hominem.

“[…] unless you are full off grid, you are taking advantage of the fact that a massive power infrastructure has been created, (its called the electrical power grid) that allows consistent, clean, full-time power to be delivered to your house, all the time.” By reducing our net purchases of power, there’s less need to build new power plants, electricity substations and transformers to service the power needs of a growing Canadian population.

“But the only reason you are able to do this is that society has agreed to create a massively expensive power grid system, in order to provide its citizens with stable, reliable, continuous power, which solar and wind are definitely not.” Sunk costs.

“So, if you were to pay nothing for 80% of your power […] [it’s] at the expense of everyone else who cannot do it.” What are you saying? I pay for all my net purchases of power, which are measured by a bidirectional meter installed by the very power company you claim I’m somehow ripping off. Oh—and why can’t others make use of renewables?

“Because, you want the benefits of solar, but you are now not paying the true cost needed to having a massive grid that is needed to back you up, when your solar or wind fails to provide ‘all the time energy.’” Define ‘true cost’. And why would the power company not be charging me that so-called true cost?

“Take it to its extreme. Or to the econ-nutjobs, to their Nirvana.” Ad hominem.

“If everyone were to generate 60% of their energy through solar panels on the roof of their house, and even sell back to the grid, the power grid would go bankrupt.”
Why is the power company providing me with rebates and incentives to reduce my net purchases of power if it will result in its eventual bankruptcy?

“That, or energy companies would have to charge a massive amount for everyone to still have the benefit of stable continuous, reliable power, that everyone wants. Power that solar and wind cannot deliver.” Where’s your evidence?

“[…] you are gaming the system and forcing others to pay more.” How am I gaming the system? By what logic? Where’s your evidence? Why is the power company encouraging me to make use of renewables?

“Because unless you are willing to pull yourself directly off of the grid, you still want the ability to have the grid available to you, for power when you want it, and when solar can’t provide it.” The power company wants me to make use of renewables!

“You see, Gravy Boat, the fewer the people you have to amortize costs over, the higher the costs for those people.” No, fewer future power plants will result in a reduction of costs, so that resources can be allocated elsewhere in the economy. Again, why is the power company encouraging me to make use of renewables?

“[It’s] Economics 101. Look it up in your textbook.” No, economics deals with total, average and marginal costs. It’s accounting that deals with cost amortization. You haven’t even used the word ‘amortize’ correctly; perhaps you meant ‘allocate’.

“Same scenario for electric vehicles.” Irrelevant to my situation. :)

#175 Gravy Train on 05.17.19 at 7:43 am

#158 AB Boxster on 05.16.19 at 1:28 pm
“Not my points gravy boat. It’s just science and economics.” You’ve never taken any undergraduate courses in science or economics, have you? Be honest!

“But as long as you keep making your $88.90 then the world is surely being saved from the evils of fossil fuels.” No, the 533 kWh is the power I’ve sold back to the power company (for $88.90); the power produced by the solar panels (in the past 50 days) is 1,442 kWh (for a saving of $240.52).

“Is $88.90 the value of your virtue signalling? Seems pretty cheap to me.” My decision to invest in solar panels was based on facts and economics, not feelings or ideology.

“I guess if you can be bought with that little you should go work out. Better to exercise the body even though the brain atrophies from lack of use.” Ad hominem.

#176 Bruce on 05.17.19 at 10:07 am

Hi

I did a search of your blog but couldn’t find snything on Canadian utilities or US preferred

Do you thing Canadian utilities and us preferred ETFs could have place in a diversified asset mix?

Also. There are ETF that sell covered calls, BMO has a bunch of them like ZWU. Are they inherently riskier that their non covered-call-selling counterparts?

Thank you

#177 gfd on 05.17.19 at 1:09 pm

Garth, I think you were talking about this couple a few nights ago.
https://www.bankofcanada.ca/wp-content/uploads/2019/05/san2019-14.pdf

OSFI has standardized the reporting of a home equity line of credit (HELOC) reporting. The new reporting standard separates residential secured lending into traditional mortgages, stand-alone HELOCs, and mortgage-HELOCs. Breaking these segments down will allow a better understanding of home equity debt.