Don’t inhale

Was it just months ago this blog was labeled not only pathetic but paleo? The crime: suggesting legal weed might impact real estate. Especially rentals. And the question was posed: would you want to be a landlord renting space to junior potheads growing plants in the shower and exhaling odours into the paint?

The moisters said this was insane, and wondered if my Eight Track or Commodore 64 had gone on the fritz to make me so irritated.

Well, guess what?

Landlords are, in fact, fussed about cannabis. Zoocasa’s latest survey of property owners shows a huge discrimination growing against users. Eighty-five per cent of landlords say they’d prefer to rent to tenants who do not grow, roll, puff or vape. And check this out…

“Landlords have also become increasingly worried about cannabis-related damage to their properties, with 57 per cent citing this as a bigger concern for them since cannabis was legalized. And more than half (55 per cent) said they would consider charging higher rent in future to cover potential cannabis-related damage.”

More rent charged to cannabis users. That should be interesting when it gets to the landlord-tenant tribunal. The survey found a majority of renters understand their rights – which, under the law, is to grow up to four plants for personal use, and to puff their brains out if they wish in the sanctity of their own leased space.

So the likely outcome? Way more non-smoking units, which means no indoor weed, tobacco or vape pens. Now, this raises a few questions…

Like, can a lease have a no-smoking clause baked into it?

Answer: you betcha. It’s perfectly legal for landlords to refuse an applicant-renter who smokes – anything. LLs can add clauses additional to the standard and legalized ones, a practice which has been approved by bodies like the Landlord & Tenant Board of Ontario.

Could weeding out smokers trigger any discrimination penalty?

Answer. Nope. Suck it up. You are not removing the right to smoke, just the freedom to do so inside the property you (as a LL) own. The tenant can go and stand in the rain in an alley and puff all she wants. Smoking is not considered an addiction, medical need or disability by any legislation.

What happens if a rebel tenant smokes/vapes at home anyway?

Smoking, sadly, is not considered a material breach of a lease – even one that prevents smoking. Weird, but true. This does not mean a tenant can defy the LL, however. The building owner needs to document instances of observed smoking or log the complaints of other tenants bitching about second-hand smoke. A LL can then issue warnings followed by a Notice of Lease Termination based on potential damage to the property, or the fact they have interfered with the reasonable enjoyment of other renters (or you, if you live there). Then, out ya go, Mr. Reefer Madness.

And what happens when a tenant becomes a cannabis rancher in the laundry room?

Answer: lots. A LL can enter and inspect a property if there is any suspected damage occurring, or pretty much at any time with adequate notice (it’s in the lease). Growing weed plants takes a lot of energy and moisture (so I’m told), and there’s the potential for leakage and damage, even inside a commercial pot tent. This is not something any property owner would want.

Another interesting cannabis fact: almost two-thirds of people believe a home where weed has been smoked becomes devalued over time (the same holds true for a place with heavy tobacco exposure). Plus almost half of Canadians think a property where cannabis plants have been cultivated should be worth less than one which has been weedless.

Finally, what about cannabis as an investment?

Disaster. After an initial flurry of speculative money was made, this sector has done little but burn up investor equity. The main weed ETF has lost half its value this year, and things look glum. Legal weed is too expensive, which has pushed users back into the arms of street dealers. Initial stock valuations were based on hype, not revenues – which have failed to materialize. Some cannabis companies turned out to be run by dinks. And now we’ve got the vaping scare going on.

How was this ever a good idea?

In conclusion: don’t smoke. Don’t vape. Don’t fill your lungs with more than air. And rent not to anyone who does. Now, where the hell is my Guns N’ Roses cassette?

143 comments ↓

#1 one big joke on 10.10.19 at 2:35 pm

the weed stocks were always a disaster in the making. most will do bankrupt and you’ll have one or two large players left standing at much lower valuations/prices.
apparently, their product isn’t even close to the quality of black market weed. so, pay twice as much for lower quality goods? good luck with that.

#2 Sebee on 10.10.19 at 2:44 pm

IT’S ALL ABOUT TAXING HOME OWNERS MORE!

Garth,

Regarding yesterday’s post about debt…the bottom line we seem to be dancing around in all this blame we’re pointing toward the political parties all pushing real estate is something you’ve touched upon repeatedly: taxes!

More specifically the indiscriminate property taxes, land transfer taxes – double transfer in some cases. The politicians can justify significant increases in property related taxation here with these higher RE values.

It’s all about government revenue growth via RE taxation! Hence why all the parties are pumping RE, even at these nose bleed ratios to average incomes and mind boggling debt levels.

As Pen and Teller would say MISDIRECTION! Look at your house value growth! ….don’t pay attention to your tax bill though.

All of the political parties peddling real estate ownership and putting our efforts to keep values from falling is that it gives them a license to tax everyone significantly more in property taxes, even if they are not realizing the growing value in their houses through selling.

Of course many/some are realizing the growing values by borrowing against it as you’ve noted via HELOCs, which is usually directed toward consuming – again driving taxation revenue though this consumption.

All of this is justified for real estate owners with higher values – hence why no one is really complaining about all this Yugely increased taxation. Or maybe they are? With 70% house ownership you get 70% of apparently happy people thinking they are making out like bandits while paying taxes that have significantly multiplied over past few years as a result. Good old bait and switch.

Of course this is RE value growth is delusional because as you’ve illustrated yesterday this is all driven with debt. That of course is also just fine for the politicians to have this in-debt generation of debt-slaves too busy to worry about or protest what the politicians are doing – hence CMHC is in the politicians interest too, and a great tool to help drive this increasing taxation revenue.

Let’s also not forget that all this debt is bank profits, on which banks do pay some taxes – so once again this ever growing mountain of debt is a source of revenue for the politicians to spend irresponsibly – cutting education and health care and all that unnecessary stuff.

So to sum up, this RE bubble is all about taxing everyone more! That’s why being responsible is not in their interest. Let’s all be adults and finally admit this reality.

…what’s fascinating is that with this incredible real estate taxation revenue growth tripling, quadrupling, quintupling property taxes over past few years…Canada is still in ever growing debt.

#3 Eks dee Siple on 10.10.19 at 2:54 pm

There’s your bubble burster right there. Half the properties in the GTA are former grow-ops. (they no longer bother to mention it on the listing). Devalued by half, carry the one, if my math is correct…Yup, crash guaranteed.

#4 calgaryfine on 10.10.19 at 2:57 pm

Just like Dotcom, will any weed company make a strong comeback like what Amazon did?

#5 MF on 10.10.19 at 2:57 pm

Amen to that!

Dumbest political move ever. Dumb thing to do for your health. Worthless investment trash.

Hopefully they make this garbage illegal again in the future.

MF

#6 Two Errors on 10.10.19 at 2:57 pm

“Smoking is not considered an addition”

A subtraction, then?

“where the hell is my Guns N’ Roses cassette?”

You mean your Elvis Presley record, right?

#7 DON on 10.10.19 at 2:58 pm

#93 crowdedelevatorfartz on 10.10.19 at 8:24 am

@#70 Don
“Now the association of private insurers wants to privatize ICBC under the assumption that insurance will be cheaper while it is actually increasing in other Provinces. ”
+++++

Why are ICBC car insurance rates so high in BC?

Observe a driver in down town Vancouver two days ago attemping to parallel park in front of the Depet of Immigration Building at 1148 Hornby st….two people seriously hurt….

https://globalnews.ca/video/6007713/dashcam-footage-of-downtown-vancouver-car-crash-close-call-for-people-on-sidewalk
*******************

Took the bus home from work yesterday and was watching the traffic. Apparently a new trend has hit drivers of all ages, they seem to be fixated on their own crotches, while driving. Has there been an explosion in the use of viagra for both men and women?

When I get in the care now…phone goes in back of vehicle. No need to become Pavlov’s dog.

#8 jess on 10.10.19 at 2:58 pm

…don’t inhale and don’t drink the koolaid

=========
another “fixer”

the two Giuliani-linked defendants, Igor Fruman and Lev Parnas, were detained at Dulles International Airport outside of Washington on Wednesday and are scheduled to appear in court in Virginia at 2 p.m. ET Thursday.
US prosecutors were not intending to unseal the indictment against the Giuliani associates and two others Thursday, according to three US officials. Their hand was forced by an attempt by Fruman and Parnas to leave the country.

Attorney General William Barr, who visited the Manhattan US Attorney’s office Thursday in what officials said was a routine stop, was briefed on the investigation into Parnas and Fruman in February after he took office, and he supported the prosecution, according to a US Justice Department official.
Overall, four men were indicted Thursday on two counts of conspiracy, one count of false statements to the Federal Election Commission and one count of falsification of records. The four are alleged in the indictment unsealed by New York federal prosecutors to have conducted a scheme beginning in March 2018 to evade campaign finance laws.
Along with Fruman and Parnas, Andrey Kukushkin has been arrested and is expected to appear in court Thursday in the Northern District of California, according to the Manhattan US Attorney’s office. The fourth man, David Correia, hasn’t been arrested. All four are US citizens, according to the indictment.

#9 Mike on 10.10.19 at 3:06 pm

Interesting but not surprising. Honestly, I’m a live and let live sort of guy and thinks that someone can do whatever they want as long as their thing doesn’t interfere with others.

But the reality with smoking weed is that it really stinks and I don’t appreciate my clean air being polluted with second hand weed smoke. So, because of that, I have a no smoking clause in the rental condo that I have. I don’t care if they smoke or where they smoke their weed, just don’t do it in my condo.

#10 Flop... on 10.10.19 at 3:09 pm

Can’t afford health insurance because I spent all my money on Chinese take-out…

M45BC

“How Americans Spend Their Money, in One Chart.

Americans are notorious spenders. Compared to many other nations around the world, households in the U.S. have a particularly low savings rate, and 28 percent of American adults have no emergency fund. However, consumer spending accounts for 68 percent of the country’s GDP, making it essential for economic strength. Our newest visualization takes a closer look at how Americans are spending their money.”

Top Consumer Spending by Category

1. Shelter – $11,747
2. Pensions & Social Security – $6,831
3. Food at Home – $4,464
4. Utilities – $4,049
5. Vehicle Purchases – $3,975
6. Food Away from Home – $3,459
7. Health Insurance – $3,405
8. Entertainment – $3,226
9. Other Vehicle Expenses – $2,859
10. Other Housing Expenses – $2,270

https://howmuch.net/articles/breakdown-average-american-spending

#11 Leo on 10.10.19 at 3:15 pm

So disappointing….. Commodore 64??? Atari FTW.

#12 DON on 10.10.19 at 3:18 pm

It takes a lot of energy etc. to grow tables of plants. But 4 plants not so much. At this rate we will need to outlaw all house plants.

The gov pot is horrendous (moldy and not flushing the chemicals) and the black market is surging back. Had to do a public policy project on the legalizing of Marijuana and did some due diligence on the subject.

You are right though we shouldn’t be putting anything into our bodies, including alcohol.

Your “Guns N’ Roses cassette” is on the credenza right under your wall phone, in the kitchen.

#13 Ustabe on 10.10.19 at 3:23 pm

In the 35+ years my brother and I ran rental real estate in Calgary we quite early on decided that we were providing homes for folks, not loaning them one of ours.

We took very little interest in the tenant lifestyle and a result was we had to, from time to time, clean up a bit of mess from any number of human activities…kids, pets, curry, smokers, hard living Alberta folks…whatever, but we also had extremely low vacancy rates, almost always had wait lists and were, it turned out, quite successful.

I guess that is the progressive part that has now been forgotten as conservative landlords whine and moan about human behaviours while engaged in the business of renting spaces to humans.

#14 Penny Henny on 10.10.19 at 3:27 pm

#3 Eks dee Siple on 10.10.19 at 2:54 pm
There’s your bubble burster right there. Half the properties in the GTA are former grow-ops.
////////////////

Half?
What have you been smoking?

#15 Flop... on 10.10.19 at 3:33 pm

#2 Sebee on 10.10.19 at 2:44 pm

So to sum up, this RE bubble is all about taxing everyone more! That’s why being responsible is not in their interest. Let’s all be adults and finally admit this reality.

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

Hey Sebee, I wrote a post that buzzed by this sort of point yesterday when talking about where the market is at in Vancouver.

The bottom of the market is still above local incomes without speculation involved, but anyone that is selling could still make decent money is seemingly fixated on government evaluation which plays into taxation.

You see realtors making a big deal when something is on the market well below this number, but even in a multi year correction people seem loathed to sell at anymore than 20% less than that number, as they feel they are giving the property away.

Another thing that is happening in Vancouver that I have been meaning to mention is metal theft.

I know of a few places where the speculators/developers decided not to develop the property and for one reason or another the tenants moved out and then the thieves moved in to steal the copper.

So now you have an un-rentable space to help pay the bills while you wait for the market to recover.

You think some of them would put the copper back in and get a tenant but that does not appear to be happening on the lower end as they don’t want to pump anymore money into them.

The mood has definitely changed.

The professional development companies are doing as little as possible long-term wise, just enough short-term to keep up appearances…

M45BC

#16 Tannhäuser Gatekeeper on 10.10.19 at 3:40 pm

What is it about this that makes everyone crazy?

Landlords can’t figure out that there may be a qualitative and quantitative difference between growing one plant next to the ficus, and growing 300 as a cash crop. In some markets they can afford to be picky, I guess.

The federal government says it’s legal but they want to barcode and microchip every seed or something.

The cops say they need more money for enforcement than when it was illegal.

City Hall says our kids will spontaneously combust if there’s a shop within 300m of a school, never mind that this doesn’t seem to apply to booze, cigarettes or porn.

The stock promoters sold paper as if nobody but Canadians will ever figure out how to the grow the stuff.

The miracle pill pushers claim it’s a solution to every health problem afflicting mankind.

The provinces seem to each have a slightly different plan to lose money by making legal purchases so inconvenient that everyone just keeps buying from wherever they were getting it before.

Some of the licensed growers should maybe have practiced on cukes and tomatoes while they got the hang of the whole gardening and following instructions thing.

The people buying the stocks should maybe have stuck to boring, profitable dividend payers.

…And a big shout out to Standard and Poor’s, who, by adding and removing the weedies to the S&P TSX index, allowed home indexers to get in on the whole “buy while high, sell when laid low” frenzy.

Grifters meet snowflakes, all around.

#17 JSS on 10.10.19 at 3:45 pm

Can we discuss Hyundai’s? Are they good cars? What about their Genesis vehicles

#18 Anna on 10.10.19 at 3:48 pm

Storytime: Years ago when we were newly married we lived in a small 2 storey apartment building owned by a realtor. She hired a couple downstairs to help her mow the lawn etc. The same couple used to smoke in the stairwell/hallways by their door And the building entrance door in winter. they had 2 kids and claimed they didn’t want to expose the kids to smoke inside their apartment. Instead they exposed the whole building to their secondhand as it leaked through the unit doors. Whenever we had friends over they would complain when they went home that their clothes etc all smelled of smoke. The truth was the couple were just lazy a$$holes who didn’t want to smoke outside or on their covered porch. We complained to the realtor owner several times but she never did anything. Finally we called bylaw. They put up some no smoking signs and I think spoke to the realtor, who maybe took things more seriously then. They knew it was us who complained as the building was full of little old ladies and new immigrants who wouldn’t complain about anything. The next week our car was ‘mysteriously’ knifed in the night and the husband thought it would be ok to harrass me as I was walking into the building after work one day. Needless to say we gave our notice and left soon after to an amazing 12 storey walk up with a management company. I’ve seen the couple around town once or twice over the years. Don’t look like their lot in life has improved much (probably more related to them being inconsiderate a$$holes vs smokers). Anyhow – I would only ever rent in a non-smoking building with a management company in the future.

#19 Bonhomme Carnaval on 10.10.19 at 3:49 pm

Appetite for Destruction ‘s quite à propos…

FYI : In QC growing plants has been outlawed. Also, the Régie du logement has allowed no-weed-smoking clauses on existing and new leases.

Like Axl Rose once said : ” smokem’ if you gottem! ”

#20 NotLegalAdvice on 10.10.19 at 3:50 pm

I don’t know if you guys recall a chart Garth posted in several months ago, it was created by a banker dude. It basically showed where we were in terms of real estate prices here in Canada.

The chart demonstrated that in 2018 (prices were dropping) however would resume to go back up before they tanked.

Can someone please get me this chart again?

#21 Robert Ash on 10.10.19 at 3:52 pm

The Trudeau Liberal Party should have just decriminalized weed, could have been completed at almost zero cost, and after some debate in the HOC’s, and that change would have been sufficient.
However Trudeau and Butts, wanted to game the system, get elected, and for the most part succeeded. Butts, is a previous World Wildlife executive, who is a true believer, in eradicating the Oil and Gas industry. This is something which was not discussed in their Party Platforms…. but many have been affected… I wonder did these Idealists, think Legal Weed, would be such a great Revenue stream, for Canada, that ” who needs Oil and Energy, when we are saving the World” We voted for it… so it is a fact of life today in Canada. The benefits to Society of Legal weed, is unlikely to affect the world positively. Consider all the Energy in the past several years, to work on this file… not to mention our Creds as a Country have taken an hit… on the world stage…. Sad story, that can be changed in less than two weeks… Vote Conservative, for some common sense.

#22 Piet on 10.10.19 at 3:53 pm

The neighbours across the road had a big crop (i.e. > 4 plants) growing in containers on their upstairs deck this summer. From mid August until mid September the buds were developing and emitting their skunky fragrance. During the evenings the entire cul de sac would become permeated with the smell, to the extent that we could detect it inside our house at a distance of at least 50 m from the source. It is obvious that even a single plant of the resin-rich stuff being grown today would be enough to seriously stink up a condo building. The smell of smoking the stuff usually last for a limited time, but the smell of resin-rich plants goes on 24-7. People who create such a stink should be required to maintain good neighbourly relations by sharing some of their product instead of just tempting us with the aroma.

#23 mike from mtl on 10.10.19 at 4:02 pm

Not only pot, but old fashioned cigs are still absolutely disgusting. Renter or not, those damn things stain and seep into porous materials worse than cat pee.

#24 Captain Uppa on 10.10.19 at 4:03 pm

In the collddd NOOOOVVEEEMBERR RAAAIN

#25 Tannhäuser Gatekeeper on 10.10.19 at 4:13 pm

” … an amazing 12 storey walk up …”

That’s one way to avoid renting to tenants who smoke!

#26 Linda on 10.10.19 at 4:15 pm

Both tobacco & marijuana smoke permeate & linger – call it the gift that keeps on giving. When we travel we always take care to book places that do not permit smoking. Seriously, who wants to pay $ to smell something like that?

#27 Ian from Oshawa on 10.10.19 at 4:16 pm

I bought shares in Bilzerian because I think he will do well … for the short term. Big social media presence, the models, a good product, the models, he has the right market watching him, and there’s the models. He’s making inroads into Canada and Europe. He’s got a chance!

At $2 a share, why not? If it goes up to $10 a share I’m doing pretty nicely!! Don’t worry, I’m WELL aware that I might lose it all, up in smoke if you will.

I’ll let you know when I sell what I made, or what I lost.

#28 FreeBird on 10.10.19 at 4:23 pm

While I understand the concern and or aversion to recreational weed use for landlords I truly hope more understanding is given to those who genuinely use it for medical reasons. We know friends and others of all ages incl seniors (and kids) who found much needed relief from terminal cancer pain, severe nausea from chemotherapy, convulsions/seizures, Parkinson’s symptoms and others. We have many friends in home care and palliative incl our local Hospice who offer in-bed service and all say medical marijuana when managed by a licensed clinic with guidance from an MD can be huge in providing comfort and better quality of life. Yes there are pharma drugs but they can be hard to tolerate when already sick and or just dont provide the relief needed (at the tolerated dose if tolerated). Not trying to change any minds just giving another perspective.

#29 Drill Baby Drill on 10.10.19 at 4:27 pm

I just installed my old 8 track tape deck into my 2002 Kia Pony with a retro kit I bought at Walmart wearing my platform disco heels and faux gold neck chain.

#30 Anna on 10.10.19 at 4:33 pm

#25
LOL. Didn’t notice I wrote walkup twice. We had an elevator the second time around ….but I would’ve gladly walked up those 12 flights to escape a cigarette smoke filled building. :)

#31 crossbordershopper on 10.10.19 at 4:34 pm

i grow 4 plants, and well kinda for personal use. in my own home much like many other people.
so what is someone to do with all this yield, well you can gift, smoke it or stock it up in the freezer.
the amount of money people are making in this cottage industry has changed many people lives that I know.
there is a huge number of people growing pot in the comfort of their own home now, for personal reasons, and low key, you could quite easily make $30K without any real trouble for a small 4 plants, say 5 times a year grow on some great strands, and yield at least a pound of weed at 1500 a pound. is $30K, thanks Justin. i dont know anyone who can smoke 20 lbs of weed a year, not that smelly i dont know what people are talking about, a little sure, great cottage industry.
who cares about renting a home or condo making no money worrying about some tenant, just grow a few plants.

That is illegal activity. – Garth

#32 DON on 10.10.19 at 4:38 pm

I was walking by the local hospital in the cold early hours of the morning yesterday (coldest October 9 on record) I noticed a group a people standing across the street near the forest. They were the smokers. People still smoke in their cars, but most with the windows down, no longer do you witness a smoky bar or have most ridden clothes, unless you are camping. Most sane smokers do it outside, live and let live. Be somewhat reasonable.

The thought of loosing value in your house due to 4 weeds plants is overwhelming for sure. Do you have to do it in your house, can’t it be outside, in your shed now that it is legal. Why all the extremes! How about a special self contained certified for home use growing Chamber. Doesn’t matter if you legalize or criminalize people will still do it. Now it is funny hearing that the black market is alive and doing well. Apparently they produce quality and quality is desired.

The one thing I have seen lately is all the Cannabis related jobs that are now out in the open. JOBs…hard to take those away.

Wait for it…’Hothouse weed’ (Hothouse Tomatoes) will dominate the market. But they do need to worry about variety and quality of product going forward.

#33 Tonight's Debate on 10.10.19 at 4:47 pm

For those who cannot understand or read French, the Toronto Star will be streaming it in English starting at 8:00 PM EST. I am not certain how this will be done, but maybe they will delay the stream, and translate using a CC mode. We shall see what happens one way or another.

#34 Sebee on 10.10.19 at 5:00 pm

#15 Flop…

I hear you. It’s just that Garth’s posts lately are repeatedly lamenting lack of discipline by all the political parties as it pertains to RE.

And while many are looking at it as vote buying, in this case there is much much more to it. TAX MONEY BABY!

After all, these people we never met who claim to be our leaders and who are asking us in this “democratic process” to surrender our decision making ability to them for the next 4 or so years need something to oversee to feel all in-charge and stuff.

And the buckets of money they spend irresponsibly need to be filled somehow. And so they are, with RE property tax revenue – the most indiscriminate of taxes because it’s completely decoupled from any income earnings. A very wise observation Garth has made here repeatedly.

And how could any politician refuse a 2-FOR-1 like that? Buy votes and increase taxes? IT’S MAGIC!

#35 SoggyShorts on 10.10.19 at 5:00 pm

#28 FreeBird on 10.10.19 at 4:23 pm
While I understand the concern and or aversion to recreational weed use for landlords I truly hope more understanding is given to those who genuinely use it for medical reasons.
*******************
But do any of them need to smoke it?
There are pills and edibles, right?

I suppose that growing our own would be cheaper, but even then you can make brownies or something, no?
Isn’t the ideal stuff for cancer patients different strains too like higher CBD than THC?

I’m fairly certain there’s no reason anyone should be subjected to the smell of burning weed when alternatives exist.

#36 Sebee on 10.10.19 at 5:02 pm

…if you extrapolate my logic further, all these RE pimping promises made by all political parties are basically a platform of TAX INCREASES on Canadian Citizens.

And of course let’s not forget the bonus of creating debt-slaves out of an entire generation…or two.

#37 Flop... on 10.10.19 at 5:17 pm

#33 Tonight’s Debate on 10.10.19 at 4:47 pm
For those who cannot understand or read French, the Toronto Star will be streaming it in English starting at 8:00 PM EST. I am not certain how this will be done, but maybe they will delay the stream, and translate using a CC mode. We shall see what happens one way or another.

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

Why ruin the fun?

While they are doing the introductions tonight if Trudeau does his normal thing and I see the word “embrass” I’ll be too busy throwing mashed potatoes at the t.v yelling…

You’re damn straight he outta be embarrassed…

M45BC

#38 wallflower on 10.10.19 at 5:25 pm

know a guy with four pot plants in his yard
takes 6 weeks multiple people to harvest the yield
revenue way above $40K
the whole 4 pot plant thing is retarded

#39 Mean Gene on 10.10.19 at 5:26 pm

I guess building/home inspection companies need to have pot sniffing dogs and sell that service. LOL

#40 leebow on 10.10.19 at 5:31 pm

This year I sold a house where one of the tenants was growing with a medical license.

Can’t quantify how much I lost on that tent, but more than a few times my RE agent told me the tent was a show stopper for prospects. Avoid having reefers as tenants.

#41 NoName on 10.10.19 at 5:38 pm

When all this craze about green stuff started some time ago, there was a dude talking about it. Dispenser ies wet hot topic at the time, but what he sad was very interesting. He talked about science and using medical MJ to help out patients with chronic pains or other issues. He sad that his company was working on gmo-ing plants so very specific plat works for specific issue, and that the fine tune some plants that work very well with epilepsy and few others “disused”. He also sad that taking generic plant hi on TCH does not helps anyone but works a form of sugar pill.

Now that sugar pill is mentioned this podcast is definitely something to listen.

https://www.npr.org/2019/05/09/721685197/placebos-may-be-a-powerful-tool-that-medicine-has-overlooked

#42 NoName on 10.10.19 at 5:42 pm

It’s just #@&$-$ mind boggling how illness becomes “disused”. Spell checker is on to me today…

#43 Mattl on 10.10.19 at 5:45 pm

No vape pens lol. Garth I could Vape in a busy restaurant and no one would know. I wouldn’t, but these things are basically undetectable.

And 4 plants may be a PITA but illegal grows, which will be as popular as illegal distilling, absolutely ruin homes. You think one light and 4 plants is bad, try 40 lights and 200 plants.

Legal weed, once it hits mass – and its not even close – will mostly eliminate the home grower. The numbers don’t work.

#44 Smartalox on 10.10.19 at 5:45 pm

The renters that DO smoke outside of their rentals all seem to go to the local park, where they smoke their weed where the little kids, (including mine) can see and smell them, plain as day. Regardless of what you’re smoking, it’s still a max $2000 fine for smoking in the parks.

At least the cigarette smokers have the decency to smoke on the sidewalk, away from the playground.

#45 S.Bby on 10.10.19 at 5:46 pm

When they have to deal with all the crap from tenants why anybody would want to be a LL is beyond me . I’d rather just collect my dividends each month and not worry about my “investment” being trashed by some irresponsible tenant…

#46 The Wet One on 10.10.19 at 5:58 pm

I got my spec cash out of weed stocks.
Yay me!

#47 DON on 10.10.19 at 6:01 pm

#38 wallflower on 10.10.19 at 5:25 pm

know a guy with four pot plants in his yard
takes 6 weeks multiple people to harvest the yield
revenue way above $40K
the whole 4 pot plant thing is retalrded
****************

That neighbour tells tall tales.

#48 RISE CANADA on 10.10.19 at 6:06 pm

DELETED

#49 BlogDog123 on 10.10.19 at 6:08 pm

Yeah, being a landlord must suck. A guy I knew rented two houses, did all the background checks he could and the “likely nice people” are either too needy, pain in the butt complainers or damage the place anyways.

Then there’s the foundation leaks, water in basement, renter’s ‘friend’ vandalizing the place, city charging you because nobody shovelled the sidewalk, rodents, messy tenants… yikes.

So who needs that grief, just buy some cash flowy ETF and fugettabout being a landlord.

#50 the Jaguar on 10.10.19 at 6:17 pm

‘Eight track/Commodore 64’. Mercy. Garth has such a knack for pulling these gems out of the dusty old attic.
To deliver it in plain speak, the Jaguar thinks people who smoke pot are weak. Period. Losers, in a way. Save your buckshot. I am entitled to my opinion, whether you agree or not. And I absolutely judge people according to their personal habits, including looking down with disdain and contempt on this particular habit. It’s not remotely the same as having a cocktail or beer in a social atmosphere. If I had to count the number of times I walked by a construction site in the early morning hours and was assaulted by the stench of it coming from the vehicle of a worker who had to start his day toked up and putting others lives at risk I would be hard pressed to do it. Hard to believe it isn’t only the rental market that is being affected, as any entry into the condo market as a buyer should ring the same warning bells concerning impact on ones investment.
It may be legal now, but it’s still drugs, still stupid, still says everything about character and class. You don’t like it? Bite me.

#51 yorkville renter on 10.10.19 at 6:21 pm

This reads like ‘Reefer Madness” 2.0

or Shakespeare- much ado about nothing

The LL survey is just dumb… I’m sure 99% of LLs would prefer to rent to just a person versus a person with a cat… so what?

#52 Tim on 10.10.19 at 6:23 pm

Greatest post ever. Garth 2019, alas…

#53 604sam on 10.10.19 at 6:24 pm

Garth I’m surprised you didn’t mention how dangerous discarded or misplaced weed can be to dogs. My dog is a 2 year old Boston terrier who eats first and asks questions later. He ate a nasty roach at the park last year and nearly went into a coma. Freaked out about an hour after eating it then his breathing became extremely shallow his eyes rolled back and he wouldn’t respond to us. The vet couldn’t tell us for sure what he ate but suspected it was dope. Dog was fine after an overnight stay but it was scary nonetheless…

#54 Alberta Ed on 10.10.19 at 6:32 pm

Weed is Sock Boy’s greatest achievement… well, his only achievement.

#55 april on 10.10.19 at 6:46 pm

People may not be allowed to smoke inside their units but does that include their balconies. I know people who say the smell of cigarette smoke and also from smelly scented candles wafts right up into their unit while the neighbours below are socializing on their balcony. If these condo buildings are supposed to be smoke free then it should include the balconies.

#56 Blackdog on 10.10.19 at 6:48 pm

Whatever, have another scotch.

#57 Blackdog on 10.10.19 at 6:53 pm

Cannabis smoke definitely does not linger the way that tobacco smoke does. Open the windows, and a couple hours later, no one will know that weed smokers live there. The same can NOT be said about tobacco smoke that literally clings to clothes, carpets, drapes, etc, no matter how many hours one attempts to air out the place.

#58 jess on 10.10.19 at 6:54 pm

wine vs weed

California’s Largest Legal Weed Farms Face Conflict In Wine Country

August 14, 20195:00 AM ET
Heard on All Things Considered

But this new crop is different. In June, Joseph learned that the fungicide she has been spraying on her grapes for decades could be drifting onto the cannabis. Unlike food crops, cannabis can’t be sold if there’s any trace of fungicide or pesticide in it, according to state law. So while the county investigates, she’s using a more expensive and far less effective spray on the grapevines that are nearest to the cannabis farm.

john De Friel’s cannabis farm’s hoop houses.

His findings suggest the county’s wine is valued at about $120 million, while its cannabis is worth about $180 million, but on a tiny fraction of the land. He says the county is positioning itself to earn significant tax dollars from cannabis.

https://www.npr.org/2019/08/14/747441997/californias-largest-legal-weed-farms-face-conflict-in-wine-country

The “canopy tax”
https://www.politico.com/magazine/story/2019/06/04/humboldt-county-marijuana-farmers-regulations-227041

#59 Captain Uppa on 10.10.19 at 6:55 pm

#17 JSS on 10.10.19 at 3:45 pm
Can we discuss Hyundai’s? Are they good cars? What about their Genesis vehicles

————————————

I too would like Garth to explain this whole Kia and Hyundai hate. We need answers, Garth!

#60 Cici on 10.10.19 at 6:58 pm

Brilliant piece tonight Garth, you definitely outdid yourself!

#61 Sebee on 10.10.19 at 7:00 pm

Does anyone know how the taxation revenue brakes down in Canada? Example x% from salaries x% business x% real estate. etc.

#curious

#62 Rargary on 10.10.19 at 7:03 pm

No smokers, no tokers, no vapers, no partiers, no drunks, no drugs, no kids, no pets… how do you stop filthy people, or those who move in 6 relatives, or hoarders or con artists from moving in? Pick your battles if you want to become a landlord. Tell them ok if they smoke, just smoke outside! Better than tenants lying about smoking and doing it anyway. Give and take. If you create a disgruntled tenant picking them apart with rules, they will win in the end.

#63 PeterfromCalgary on 10.10.19 at 7:04 pm

Garth Slash from Gun N’ Roses has his pad in Mulholland Estates up for sale. Make him an offer and rock on!

“Jade Mills of Coldwell Banker Previews International is the listing agent.”
https://www.latimes.com/business/realestate/hot-property/la-fi-hotprop-slash-mulholland-estate-20160407-story.html

#64 BlorgDorg on 10.10.19 at 7:08 pm

On the topic of filling your lungs…

A month ago my father — a non-smoker — was diagnosed with stage IV lung cancer at age 68. For the 30,000 Canadians who are diagnosed every year, the impact is unforgettable: incurable disease. 90% of lung cancers are caused by smoking and vaping. Mortality rate is above 75% — for stage IV, it’s effectively 100%. Most people survive about a year.

It’s remarkable how immediately things like real estate and investing become insignificant when you start counting down the days left in life. Garth is right: the most valuable thing any of us has is time, and it’s always running out. Often faster than you think.

What’s remarkable to me is seeing my father’s shock at the individualism, indifference, and ignorance as we walk through Union Station and up to Princess Margaret hospital (where the care is exceptional) – he laments the homelessness and rampant addiction crisis more than his own mortality. “Unacceptable in a so-called developed country,” he observes.

Please don’t share your condolences or sympathy; instead:

If you smoke (anything), stop.
If you vape (anything), stop.
If you can’t stop, get help.
If you don’t smoke, help someone you love who does.

Every day now, I raise my face to the sun for a moment and reflect on the fortunate beauty of being alive. I recommend you try doing the same. Every day is a gift.

#65 Penny Henny on 10.10.19 at 7:11 pm

#18 Anna on 10.10.19 at 3:48 pm
Storytime: Years ago when we were newly married we lived in a small 2 storey apartment building owned by a realtor. She hired a couple downstairs to help her mow the lawn etc. ..
The same couple used to smoke in the stairwell/hallways by their door And the building entrance door in winter. Needless to say we gave our notice and left soon after to an amazing 12 storey walk up with a management company.

//////

12 storey walk up?
You must be in amazing shape!!

#66 Weed on 10.10.19 at 7:23 pm

When does the illegal become legal? It happens when a man panders the vote to win by taking the low road, having no conscience of the health issues or costs involved for doing it. This same man will prone to do other illegal acts of corruption too, no matter what the costs to stay in power. Is this what you voted for in the first place?

#67 Long-Time Lurker on 10.10.19 at 7:23 pm

>Duffonomics.

Duff McKagan: The man who went from Guns N’ Roses to accountancy

Duff McKagan was once a single drink from death. Now the bassist with the most debauched rock band of its generation is an accountant

Adam Sherwin @adamsherwin10
Sunday 11 November 2012 20:30

Duff McKagan, former Guns N’Roses’ bassist

“You can ask Duff about sex, substance abuse, Axl Rose and his near-death experience after his pancreas burst. But he can’t talk about his fund-management company right now.”

If that sounds an unusual instruction before an audience with one of rock’s foremost hell-raisers, then Duff McKagan, bassist with Guns N’ Roses when the band carved a new chapter in debauchery, is no ordinary rock star.

The Seattle-born musician, 48, experienced the “insanity” of life inside a 100 million-selling juggernaut when Guns N’ Roses’ 1987 debut album, “Appetite For Destruction”, became a global phenomenon.

Trapped on a tour bus with Rose, a volatile, tantrum-prone singer, McKagan responded by indulging in cocaine and drinking half-a-gallon of vodka a day, before switching to red wine (10 bottles daily) when he reluctantly embarked upon a health-kick.

Yet the Duff who strides into the Pall Mall hotel lobby looks the picture of health, as befits a musician who has a new career as a best-selling author and financial adviser to his less numerically-literate, guitar-toting peers.

He delivers his sage advice through his Meridian Rock wealth-management company for musicians….

https://www.independent.co.uk/arts-entertainment/music/features/duff-mckagan-the-man-who-went-from-guns-n-roses-to-accountancy-8304984.html

#68 SoggyShorts on 10.10.19 at 7:24 pm

#38 wallflower on 10.10.19 at 5:25 pm

know a guy with four pot plants in his yard
takes 6 weeks multiple people to harvest the yield

*****************
Hang on a sec….how stoned/useless are these harvesters?
Think about it. How much weed could 1 person harvest in a day? Surely a few pounds? So “multiple” people for 6 weeks?! Are those 4 plants yielding a literal tonne of weed? Did you mean he has 4 fields of weed?

#69 Flop... on 10.10.19 at 7:35 pm

Cigarettes and Construction seem to go hand in hand.

This is my 30th year so the behaviour has changed a bit over the years.

Don’t seem to see as much weed action, but I attribute that to mainly working on private residences.

Occasionally I do commercial work and I smell it in the background and in the toilets.

Most companies I work for have a no smoking inside the house policy, but occasionally I do some work for Chinese developers and they have not kept up with the times from what I have experienced.

Last year I saw a guy chain smoke six cigarettes while installing trim on a bedroom cupboard.

I was working in the bathroom and my head was spinning and my eyes burning.

I tried to keep away from him and asked him to stop but he wouldn’t, I felt most sorry for his assistant that followed him around but was a non-smoker.

Pack a day smoker right beside him for 8 hours a day.

I tried to explain to to owner that no smoking was allowed inside the house as until we handed the keys over it was a WCB jurisdiction, they laughed at me.

A couple of weeks later six people including the owner, carpenters and decorator came down to the basement where I was working and during discussing what was going to happen down there decided to have a 45 minute smoke party.

I moved rooms and the designer had the audacity to come and tell me to stop my power tool as they did not want to suck in any dust!

Pretty messed up stuff.

Another one where cigarettes went awry was when I was doing some interior work and noticed that one of the hard landscapers outside was no longer onsite.

Turns out that the company had a policy that you weren’t allowed to smoke onsite, even outside.

You would see guys at lunch time sitting in their cars having one but a couple of guys admitted that the policy had helped them kicked the habit.

The guy that was no longer there, got a warning one day, second warning the next and then fired because he was too lazy to walk 50 meters.

I guess that’s one way to weed out the lazy people…

M45BC

#70 yorkville renter on 10.10.19 at 7:36 pm

#68 – I assume they meant 6 weeks to grow?

#71 Long-Time Lurker on 10.10.19 at 7:47 pm

#20 NotLegalAdvice on 10.10.19 at 3:50 pm
I don’t know if you guys recall a chart Garth posted in several months ago, it was created by a banker dude. It basically showed where we were in terms of real estate prices here in Canada.

The chart demonstrated that in 2018 (prices were dropping) however would resume to go back up before they tanked.

Can someone please get me this chart again?

>This chart? I searched back that far.

https://www.greaterfool.ca/wp-content/uploads/2019/03/OWNERSHIP-COSTS.png?x70502

% of pre-tax income needed to carry a house in…
Source: RBC, Pathetic Blog

The stretch
March 29th, 2019 — Book Updates

https://www.greaterfool.ca/?s=the+stretch

#72 Nonplused on 10.10.19 at 7:51 pm

Vaping is not the same as smoking. It doesn’t turn the walls yellow and other tenants can’t smell it. “Second hand vape” isn’t really a thing.

The studies aren’t in yet but there is reason to believe vaping isn’t nearly as harmful as smoking because it contains way less carcinogenic compounds. Most of the people who have had trouble were using black market THC liquids, not the over the counter nicotine ones.

Many people use vaping as a way to quit smoking, because the amount of nicotine in the vape can be adjusted all the way down to zero, allowing people to gradually reduce their “dose”.

So we should put all the vape paranoia on hold. It’s a much better alternative than smoking, or at least it appears to be for now (until the studies come in proving otherwise).

Of course it’s not something you should take up if you are a non-smoker or under 18, because it can hook you on nicotine.

#73 crowdedelevatorfartz on 10.10.19 at 7:52 pm

@#53 604sam

Years ago a friend in High School who didnt smoke dope came up to us somewhat more “experienced” students and told us a story.
His fairly rich dad collected antiques.
While in Europe he boult an antique stove and had it shipped back to Canada via Amsterdam.
3 months later it arrived late in the afternoon/evening around suppertime.
The driver dropped the crate in the driveway.
After dinner they uncrated it outside ,emptied all the protective cork packing onto the ground and all of them carried it into the basement, hooked it up to the chiney pipe and lit a fire…
About 9pm a stranger showed up at the door.
“Where’s the package that was delivered? It was sent to you by mistake!”
My friends dad said, “No. it’s my antique stove. Its in the basement”.
The guy freaked and said, “Can I see it?”
“Yeah”
Down they go to the basement and the guy craps his pants when he sees a raorong fire in the wood stove.
“The CRATE! Where’s the crate!”
“Outside in the driveway.”
The guy races up the stairs , out into the driveway, sees the smashed open crate and the cork lying all over the ground….
Without a word he grabs as much of the cork as he can, stuffing his pockets, his jacket, everything.
And quickly leaves.
While all this has been going on, the family beagle has been sniffing around the crate and eating the “cork”.

The dog starts acting weird.
Dad puts two and two together and calls the cops.
While dad is on the phone my friend, realizing this may be a cash opportunity, grabs as much “cork” as he can before the police arrive.
The cops arrive, listen to the story , look at the broken crate and the broken crumbs of hash lying everywhere.
They freak.

Long story short( too late).
The beagle was fine.
The smuggler got busted.
And we fine upstanding students got the shock of our lives when our non drinking, non smoking friend finished the story by pulling a chunk of hash out of his pocket the size of a baseball and innocently asked us,
“Is this worth $25.00?”

#74 akashic records on 10.10.19 at 7:53 pm

If you own it, you can add a 4-girl in-law/nanny suit to host Mary/Jane.

#75 Bob Dog on 10.10.19 at 8:07 pm

DELETED

#76 SoggyShorts on 10.10.19 at 8:16 pm

#70 yorkville renter on 10.10.19 at 7:36 pm
#68 – I assume they meant 6 weeks to grow?

But if it’s 6 weeks to grow, what are the multiple people doing? Maybe it’s a 6 week supply for multiple people?

#77 BlorgDorg on 10.10.19 at 8:20 pm

#72 Nonplused

I was expecting this argument. Disclaimer: I have both smoked and vaped in the past myself.

No, vaping is not the same as smoking. But second hand vaping is just as real as second hand smoke; it doesn’t just disappear.

Yes, some people may use vaping to stop smoking, but let’s be honest: he vast majority of people vape because they think it’s safer than smoking.

And maybe it is, you’re right, the studies aren’t in yet. But they won’t be for another 25 years. Maybe they’ll find you only have a 50% chance of dying early from cancer instead of 75%.

Much better alternative indeed. Roll the dice.

#78 Blackdog on 10.10.19 at 8:23 pm

Well, since we are all into ‘weed’ stories tonight…one evening, my eldest daughter (20-something med student, just so you know we are not a family of degenerates) knew mom had baked special cookies, and asked me for a couple. I gave her one, but she insisted on two, saying she’d save the second for another time. Somewhat reluctantly, I gave her two. An hour or so later, she asked me if I had taken back her second cookie. I had not. The dog was on her bed. The cookie she had placed on her desk was nowhere to be found.

The good news is that for the most part, ingested weed cookies will make your dog act not quite themselves, but unless they’ve eaten a ton, won’t hurt them. Daughter felt guilty though. Dog drooled a lot for several hours, never moved off her bed, but was fine next morning.

To this day, dog leaves the room when she smells weed.

#79 SoggyShorts on 10.10.19 at 8:27 pm

#72 Nonplused on 10.10.19 at 7:51 pm

I smoked a pack a day for 20 years then vaped for about 2 years as a way to quit. non-smokers said they could smell it in my apartment but that it wasn’t unpleasant (my vapes were all fruit or candy-flavored)

I’m sure that it isn’t as bad for you as smoking but that bar is so incredibly low that it doesn ‘t mean a whole lot.

The biggest difference for those around you is in what people mistakenly call “second hand smoke”
Smoke that has been pulled through a cigarette filter and a set of lungs and then exhaled (second hand)isn’t really that bad… it’s “sidestream” smoke that’s awful. Totally unfiltered smoke off the end of a cigarette. Vaping doesn’t have that.

#80 Blackdog on 10.10.19 at 8:38 pm

Lucifur the black cat in the family, unlike Elsie the dog, LOVES weed. He purposely hangs around if you smoke it, wraps himself around your legs, purring loudly, rolls on the ground, and practically begs for you to blow smoke in his face. One time, he grabbed a bag of weed off the coffee table and took off with it in his mouth. Strange cat.

Strange family. – Garth

#81 Flop... on 10.10.19 at 8:39 pm

You guys told me Milton was a shithole.

It looks half decent at first glance…

M45BC

#82 MF on 10.10.19 at 8:42 pm

72 Nonplused on 10.10.19 at 7:51

Colour the walls maybe not.

Infect your lungs with a mysterious life risking infection, maybe.

Let’s not try to sugar coat it. Disgusting habit. Just as dangerous as cigs or weed but with a different risk profile.

MF

#83 akashic records on 10.10.19 at 8:54 pm

The proper use of tobacco is how it used to be: an offering to Creator.

#84 Kelowna Dream Life on 10.10.19 at 9:33 pm

After running a meth lab and second hand smoking the place out you paint over it with thick paint. Put in the listing “fresh new paint” and flip for a 100k profit to an old person coming in from Vancouver without a sense of smell.

If you rent here, lookout. You neighbor will vape, smoke pot, run a meth lab and destroy any kind of clean living. And then eventually flip their property for a 100k profit and of course not claim any taxes.

Good luck finding quality places for under 1M anymore that are not ransacked garbage like what you have been getting in Vancouver for the past 10 years.

Come live the dream.

#85 NoName on 10.10.19 at 9:45 pm

@ flop

Pay closer attention and you’ll see canted outside walls on many houses, maybe not may e they shimmed sideing by now.

Buts what’s telling is morning exodus from Milton towards civilization…

#86 Second hand vape isn't a thing? on 10.10.19 at 9:49 pm

Yeah, vape is different…it kills you. Straight up. Second hand vape is much more dangerous.

Give your head a shake. Many cyanates are odorless – that isn’t a thing either because they don’t smell as potent? Says the guy wondering what happened to their lungs.

If you cherish your health, avoid the obvious like spray foam insulation, smoking, vaping or anything new.

New buildings are like a toxic soup – ask any firefighter today – and when you add the stupidity of the vaping / weed smoking generation it gets even worse. Smoke your garbage outside and don’t push it on people via second hand.

#87 You are now watching Mad TV on 10.10.19 at 9:57 pm

Looks like Garth has some health experts on his blog talking up the marketing BS of vaping.

Let’s get one thing clear:

Among the toxic chemicals found in ecigarettes are aldehydes. The respiratory uptake of formaldehyde and acetaldehyde specifically. The results showed that both were increased during vaping.

Nickel, chromium, cadium, tin, aluminum, and lead have all been observed and are potential carcinogens, leading to both lung and sinonasal cancer and/or oral cancer.

Puff, puff you dummies. Keep telling yourself that having vape vapor float around inside is all okay and better for you than smoking.

#88 conan on 10.10.19 at 10:20 pm

#80 Blackdog on 10.10.19 at 8:38 pm

I have heard of this cat behavior before. It’s like they are wired for cat nip, and pot, obviously also works.

https://www.youtube.com/watch?v=laELhSkm44o

#89 Dr V on 10.10.19 at 10:27 pm

2 Sebee – the local governments don’t need an increase in RE values to hose you. I checked some old assessments. over a flatish 5 year stretch, my house assessment increased 6%. But my property tax increased 35%.

Rising RE values may provide a distraction through
a wealth effect though.

#90 yvr_lurker on 10.10.19 at 10:28 pm

Am not a weed guy. My mother made me watch Midnight Express when I was 20 just before heading out to Europe on a summer backpacking trip. Thatmovie was cure enough not to start.
Have no use for it now either. I can imagine it would makes it harder to run the 8K three times a week with clogged lungs…. no thanks… much rather have the occasional gin and tonic as amy vice….

#91 Millennial Realist on 10.10.19 at 10:29 pm

Paleo Boomers become irrelevant in:

12 Days and Counting………..

#92 Shawn Allen on 10.10.19 at 10:42 pm

BlorgDorg’s wise words

Please don’t share your condolences or sympathy; instead:

If you smoke (anything), stop.
If you vape (anything), stop.
If you can’t stop, get help.
If you don’t smoke, help someone you love who does.

**************************
Very good advice. Condolences, especially to strangers are easy and don’t do much. Action speaks much louder than words.

It’s tragic that we had smoking on the run and then allowed vaping and even made it flavored for the kiddies and legalised / normalized pot.

But many of us non-smokers feel ever so superior to smokers. Yet, most of us drink. Little is said about the long-term health impacts of alcohol. Most people will not admit to excessive drinking. Yet it takes less than 3000 people to support a liquor store. I live in a small city of 66,000 – bedroom community of Edmonton. We have about 26 liquor stores. Most open seven days a week and long into the evening. You do the math, a lot of people are doing a lot of drinking! What are the long-term health impacts? I suspect alcohol is a lot more of a killer than is admitted. We don’t care to admit it.

#93 Sebee on 10.10.19 at 10:44 pm

Garth, you’re an ex-politician, could you please shine some light on this?

Why doesn’t the financial report note or itemize revenue from property taxes? Is it not included in the revenue total? It isn’t mentioned anywhere as a specific line item, and clearly it is a significant amount if you consider number of homes, and of course commercial real estate.

Surely we’re talking about at least 15-20% of the $293B listed in link below. Do they factor in residential property taxes under personal and commercial property taxes under corporate?

https://www.fin.gc.ca/afr-rfa/2017/report-rapport-eng.asp

Much appreciated if you could shine some light on this.

#94 DON on 10.10.19 at 10:53 pm

#80 Blackdog on 10.10.19 at 8:38 pm

Lucifur the black cat in the family, unlike Elsie the dog, LOVES weed. He purposely hangs around if you smoke it, wraps himself around your legs, purring loudly, rolls on the ground, and practically begs for you to blow smoke in his face. One time, he grabbed a bag of weed off the coffee table and took off with it in his mouth. Strange cat.

Strange family. – Garth
********************
lol – gotta have a sense of humour.
A scene right out of Harold and Kumar’s next movie.

#95 Sail Away on 10.10.19 at 11:44 pm

#4 calgaryfine on 10.10.19 at 2:57 pm
Just like Dotcom, will any weed company make a strong comeback like what Amazon did?

———————————-

Probably eventually someone will find a niche. A major problem is the ease of production: with alcohol, you can make your own beer or wine, but it’s a fair bit of work. With MJ, you can grow 3 plants for a year’s supply. Why wouldn’t every user do this?

It’s such a silly business and silly product.

#96 Smoking man on 10.10.19 at 11:51 pm

All I’m saying snow flakes

https://youtu.be/7hx4gdlfamo

No risk no reward…enjoy your poverty safe space..

#97 Smoking man on 10.11.19 at 12:08 am

Not backing down you mind fkd freaks. My mission from back home. An other planet.

I should be loved by all.

Brain washing down here is good, get em young teachers.

https://youtu.be/N8i5NLyXZdc

#98 Westcdn on 10.11.19 at 2:05 am

When I look at preferred shares I check out company debt and cash flow. The main thing is having insurance that commons will be wiped out before I get touched. It is actually quite easy to check out the debt to equity of companies. I like the TSX financial option on individual tickers for a fast view. I look for a secure yield. Maybe I will die in the pits but my feet are fast and I am not afraid of defeat.

You have to remember some people lie to you when it comes to money, so history is important. For me trust is earned but that does not guarantee success. I have learned companies can die fast but amazingly the executives do well.

#99 OhCanadaIweepforyou on 10.11.19 at 7:22 am

Obviously Trudeau polls in ’15 showed that dopers could vote in numbers. But like Trudeau, Dopers are stupid. Of course you don’t smoke dope unless your an idiot. Of course growing dope in a bsmt is extremely destructive, rot and mold beaucoup. I hope that even the Dopers see that Trudeau’s dope story was a fraud. Obviously if you’re $200 a month from sleeping in the park you’re not buying Trudeau’s dope. Right, were number two, us and Paraguay. Kerrist you’re stupid if you bought Trudeau’s dope.

Welcome to 100% taxation.

#100 Dharma Bum on 10.11.19 at 8:02 am

#12 Don

Your “Guns N’ Roses cassette” is on the credenza right under your wall phone, in the kitchen.
——————————————————————–

Next to the Rolodex.

#101 Tater on 10.11.19 at 8:03 am

#61 Sebee on 10.10.19 at 7:00 pm
Does anyone know how the taxation revenue brakes down in Canada? Example x% from salaries x% business x% real estate. etc.

#curious
————————————————————-
There’s some info here: https://www.fin.gc.ca/afr-rfa/2018/report-rapport-eng.asp

I’ve also seen a couple of pieces that put cap gains taxes as 2% or so of the personal income tax total, thus why I say messing around with it (in terms of inclusion rates) won’t really move the needle.

#102 Sebee on 10.11.19 at 8:04 am

…they don’t include the revenue from property taxes on federal numbers since it’s municipal. But taxes are taxes.

Look at this 2019 article…it actually says off the top that they have not increased taxes! …as a % sure, but we know they’ve reassessed the values happily.

https://www.thestar.com/amp/opinion/star-columnists/2019/03/01/property-taxes-are-the-obvious-solution-to-torontos-revenue-crisis.html

Reminds me of the spin that only 14% of US population smokes right now. Of course in 30 years US population has grown by 100m, so sure, lower percentage, but same or more people actually smoking. Number spin.

#103 crowdedelevatorfartz on 10.11.19 at 8:07 am

@#90 Mildewy Surrealist
“12 Days and Counting………..”
+++++

bwahahahaha

Finally you wont be able to blame Boomers for everything.
Another 4 years of Trudeau’s grotesque deficit spending should guarantee years of tax purgatory for the gullible masses.

Vote for higher taxes and be run over by them.

Bwhahahahahahahahaha

#104 jess on 10.11.19 at 8:07 am

Austria’s Federal Council Approves 5% Tax on Digital Ad Revenue
Oct. 10, 2019, 7:36 AM
https://www.taxfairness.ca/sites/all/modules/civicrm/extern/url.php?u=2718&qid=474183

It looks like things could change. All the major parties except the Conservatives have now announced plans to finally tax foreign digital corporations. After years of pressuring the government to do so, it’s encouraging to see this commitment. Regardless of which party forms government in two weeks, we need to hold policymakers accountable and ensure Canada follows through in levelling the digital playing field.
Please share our fact sheet outlining specific measures the federal government should take and continue raising this issue with your local candidates and representatives.
We kicked off our countdown of tax fairness measures in early September by outlining the most egregious and regressive tax loopholes. This week we partnered with the Broadbent Institute to provide an updated breakdown of Canada’s five filthiest tax loopholes, which we hope you’ll share as well
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No More Half-Measures on Corporate Taxes
Oct 7, 2019 Joseph E. Stiglitz

In the face of climate change, rising inequality, and other global crises, governments are losing out on hundreds of billions of dollars in tax revenue as a result of corporate tax arbitrage. Yet despite the obvious deficiencies of the global tax regime, policymakers continue to propose only piecemeal fixes.

NEW YORK – Globalization has gotten a bad rap in recent years, and often for good reason. But some critics, not least US President Donald Trump, place the blame in the wrong place, conjuring up a false image in which Europe, China, and developing countries have snookered America’s trade negotiators into bad deals, leading to Americans’ current woes. It’s an absurd claim: after all, it was America – or, rather, corporate America – that wrote the rules of globalization in the first place.”

https://www.project-syndicate.org/commentary/oecd-proposal-multinational-tax-avoidance-by-joseph-e-stiglitz-2019-10

#105 Tater on 10.11.19 at 8:15 am

#94 Sail Away on 10.10.19 at 11:44 pm
#4 calgaryfine on 10.10.19 at 2:57 pm
Just like Dotcom, will any weed company make a strong comeback like what Amazon did?

———————————-

Probably eventually someone will find a niche. A major problem is the ease of production: with alcohol, you can make your own beer or wine, but it’s a fair bit of work. With MJ, you can grow 3 plants for a year’s supply. Why wouldn’t every user do this?

It’s such a silly business and silly product.
——————————————————–

Most people don’t grow their own vegetables. Which is far easier than growing quality weed (or so I’m told).

The problem that weed companies have is that they don’t get to set prices. The gov decides at what price they will buy from them at the wholesale level and then sets the retail price. There’s no incentive for the gov to provide a rate of return to the growers that is greater than the return any other crop grower can get.

#106 Dharma Bum on 10.11.19 at 8:17 am

What about all the prostitute operations that are being run out of these crap rental properties?

A service to mankind, to be sure.

#107 Mandria on 10.11.19 at 8:36 am

The landlords better make sure that they aren’t turfing or passing over a medical user. Once someone has a medical certificate it becomes a human rights issue based on disability. I’m not here to argue if that’s right or wrong just stating the facts.

#108 Tater on 10.11.19 at 8:37 am

Seebee- property taxes are paid to the municipality, thus they aren’t on the federal governments budget.

#109 crowdedelevatorfartz on 10.11.19 at 8:41 am

@#99 Dharma Bum
“What about all the prostitute operations that are being run out of these crap rental properties?
A service to mankind, to be sure.”

+++++

??????
Thats quite a segway from dope growing.

#110 Tater on 10.11.19 at 8:43 am

#94 Sail Away on 10.10.19 at 11:44 pm
#4 calgaryfine on 10.10.19 at 2:57 pm
Just like Dotcom, will any weed company make a strong comeback like what Amazon did?

———————————-

Probably eventually someone will find a niche. A major problem is the ease of production: with alcohol, you can make your own beer or wine, but it’s a fair bit of work. With MJ, you can grow 3 plants for a year’s supply. Why wouldn’t every user do this?

It’s such a silly business and silly product.
——————————————————-

People can grow vegetables in their backyard too, but most don’t.

The issue the weed growers have is one of market structure. The gov sets both the wholesale and retail price and can extract most of the value created. To survive as a weed grower will require scale and cost discipline. And likely the acceptance that your rate of return will be only slightly above your cost of capital.

#111 NotLegalAdvice on 10.11.19 at 9:04 am

#71 Long-Time Lurker on 10.10.19 at 7:47 pm

Hey, thanks for searching back for that chart! Unfortunately this wasn’t the one I was referring to. Perhaps I dreamt the statistic loll

I thought there was a curve that demonstrated that once the nation adjusted to the stress test, prices would plateau prior to increasing again, before a big flop.

#112 Sue on 10.11.19 at 9:12 am

Wow! anyone else surprised by all the druggies coming out of the woodwork? What’s even more entertaining is seeing how they’re all trying to justify their stupidity because yeah smoking marijuana is soooo much better than cigarettes LOL.
Proof it does make you stupid
Party on people

#113 Tannhäuser Gatekeeper on 10.11.19 at 9:16 am

“Welcome to 100% taxation.”

Some of you folks really should spend some time understanding tax. You don’t need a college course or a complicated textbook; you could probably find all you need on blogs.

1) I’m not saying it’s fair or it’s right, but many people can structure their affairs to retire with a six figure income paying almost no tax for the first few decades, and without amassing huge deferred tax liability on capital gains. It’s a game, and losing is expensive.

2) Figure out the property tax system, people. It isn’t that complicated. Understand what a mill rate is, how it gets set, and what your property tax pays for. Yeah, it’ll probably go up faster than general inflation, because urban maintenance work can’t be outsourced to low labour countries. And the more sprawling and suburban your city, the more you’ll be paying down the road, IMHO. No, it doesn’t go to the federal government.

3) I just found out that the UK has a 40% estate tax, above a fairly low threshold. Maybe stop complaining about the Canadian tax system.

4) Old people who constantly whinge about taxes and ailments are boring. Don’t be one of them, please.

#114 IHCTD9 on 10.11.19 at 9:18 am

#91 Shawn Allen on 10.10.19 at 10:42 pm

Little is said about the long-term health impacts of alcohol.
_____

I did a quick Google. Apparently drinking alcohol causes Cancer (surprise!).

#115 crowdedelevatorfartz on 10.11.19 at 9:31 am

@#90 Mildewy Fantacist
“Paleo Boomers become irrelevant in:
12 Days and Counting………..”

++++

Bwahahaha
Just keep dreaming my mirror gazing fantacist.
The only thing you will “win” is greater deficits, deeper debt, higher taxes and a “leader” even more of an international embarrassment than he already is.
“Oh Mammy”

Enjoy the punishing (working slave wage) taxes at your “gig” economy job as I while away my retirement years living off my investments, CPP , etc.

Perhaps I’ll reprogram my self driving car to run over Millennial Uber customers who cant drive.
There should be lots in about 10 years.
Prepare for the future or be run over by it.

#116 Remembrancer on 10.11.19 at 9:35 am

#92 Sebee on 10.10.19 at 10:44 pm

Why doesn’t the financial report note or itemize revenue from property taxes? Is it not included in the revenue total? It isn’t mentioned anywhere as a specific line item, and clearly it is a significant amount if you consider number of homes, and of course commercial real estate.
——————————————
Sebee, not sure where you want to go with this or whether you have any experience being assessed or paying property tax, but in Canada the federal government neither collects nor pays (you can search for payments in lieu of taxes yourself, which covers the latter) property taxes. That’s a local government prerogative…

Someone or someones went to the trouble to document an unofficial version here…
https://en.wikipedia.org/wiki/Taxation_in_Canada

#117 Doug in Toronto, not London on 10.11.19 at 9:35 am

Where’s that Guns and Roses cassette you ask? It might be in the same place as my AC/DC Back in Black cassette.

#118 oh bouy on 10.11.19 at 9:44 am

@#98 OhCanadaIweepforyou on 10.11.19 at 7:22 am
Obviously Trudeau polls in ’15 showed that dopers could vote in numbers. But like Trudeau, Dopers are stupid. Of course you don’t smoke dope unless your an idiot. Of course growing dope in a bsmt is extremely destructive, rot and mold beaucoup. I hope that even the Dopers see that Trudeau’s dope story was a fraud. Obviously if you’re $200 a month from sleeping in the park you’re not buying Trudeau’s dope. Right, were number two, us and Paraguay. Kerrist you’re stupid if you bought Trudeau’s dope.

Welcome to 100% taxation.
///////////////////////////

lol, at least learn some grammar and spelling before you call other folks idiots.

#119 NoName on 10.11.19 at 10:10 am

Norway running out of oil. I wonder what they are planning to export when wells are dry.

#120 NoName on 10.11.19 at 10:43 am

interesting read

https://www.businessinsider.com/norways-biggest-oil-reserves-are-running-dry-2017-12

#121 leebow on 10.11.19 at 10:44 am

#100 Mandria

You are right, both from the legal and humanitarian perspectives. The issue exists though. The losses are real and material. Landlords need some sort of remedy.

#122 Mattl on 10.11.19 at 11:01 am

#90 Millennial Realist on 10.10.19 at 10:29 pm
Paleo Boomers become irrelevant in:

12 Days and Counting………..

——————————————————————

Quite the opposite actually. Most parties are running platforms designed to protect boomer RE equity, which is where most of their net worth lives.

Guess who is going to pay for all this stuff? Hint – it’s not retired Boomers drawing down investments. It will be high income earners over the next 20 years. Guess who those high income earners, carbon consumers are/will be? You got it, Milennials!

You’ve been played. Your reward is higher taxes as you hit prime earning years and insane RE prices. Now go take your victory lap junior.

#123 Scott on 10.11.19 at 11:40 am

Love your blog Garth but you seem to fire off your thoughts as if they’re facts. Which ETF are you referencing? HMMJ probably? It’s down 31% this year. Down 51% from a year ago (doesnt really change your point but may as well get it right). It’s a budding speculative play but there will be some winners coming out of it. Even the low end projections have the world cannabis industry being massive withing ten years. We’ve essentially had a two decade head start. IMO the real money will made from IP.

Anyway just wanted to get it on the record that I think you’ll be wrong in the long run on cannabis. Often the s+p500 will move mostly on its ten biggest winners, I think weed companies will do the same. I think as companies start to fail and are liquidated that will strengthen the companies who are executing well.

I just think you’re calling the hockey game over at the first commercial break of the first period. Lots of game to go!

Keep calling it as you see it though, that’s what I like about this pathetic blog. I’m definitely not here for the intellectual giants weighing in on politics in the steerage section!

#124 n1tro on 10.11.19 at 11:50 am

#103 Tater on 10.11.19 at 8:43 am
#94 Sail Away on 10.10.19 at 11:44 pm
#4 calgaryfine on 10.10.19 at 2:57 pm

People can grow vegetables in their backyard too, but most don’t.

The issue the weed growers have is one of market structure. The gov sets both the wholesale and retail price and can extract most of the value created. To survive as a weed grower will require scale and cost discipline. And likely the acceptance that your rate of return will be only slightly above your cost of capital.
———
What the market needs is an Uber app for dope. Need a fix? Turn on app, see what is being offered. Select what you want, meet up or have it delivered. If the government wasn’t so stupid and behind the times, it could regulate/be the middleman taking their cut regardless of the price.

Alas, I’ve been told legalized weed and government control is for our safety and not about the money. Thank you for looking out for my best interest Justin!

#125 Shawn Allen on 10.11.19 at 12:11 pm

Alcohol Causes Cancer?

#114 IHCTD9 on 10.11.19 at 9:18 am
#91 Shawn Allen on 10.10.19 at 10:42 pm

Little is said about the long-term health impacts of alcohol.
_____

I did a quick Google. Apparently drinking alcohol causes Cancer (surprise!).

************************************
That is probably correct. Yet, unlike cigarettes, we don’t see that many warnings. Alcohol is not sold in plain labels with “drinking kills” type messages.

I imagine the cancer links are weaker but they are there. I am just not seeing a lot of warnings.

Smoking (at least cigarettes) has become socially taboo. Drinking is FAR from taboo in most social circles.

Many of us are not setting a great example for the kids.

#126 The Latest Debate on 10.11.19 at 12:14 pm

No opinions in last night’s debate? The English translations were done very well with experts on the job of doing so. Did anyone watch it last night?

#127 Damifino on 10.11.19 at 12:18 pm

The S&P 500 is up 88 points (3%) in the last two days.

Why is this not MSM news?

It would surely get a mention if it were 3% downward.

#128 crowdedelevatorfartz on 10.11.19 at 12:41 pm

@#119 NoName
“Norway running out of oil. I wonder what they are planning to export when wells are dry.”
++++

Easy.
They will learn how to bottle and export their outraged environmentalist children all over the planet.
Fewer mouths to feed and it should make crossing bridges during rush hour much easier

#129 Tannhäuser Gatekeeper on 10.11.19 at 1:19 pm

“Why is this not MSM news?”

Woke, 1900: Buying a newspaper, installing your own publisher.
Woke, 2000: Starting your own news site/portal/blog/what-have-you.
Woke, 2010: Starting your own news criticism blog.
Woke, 2020: Complaining in the comments of other people’s blogs that if you were the managing editor of the World News and Ass-Trumpet, you’d emphasize/de-emphasize/use different words/maybe-another-font to describe your personally curated #1 outrage/overblown non-story of the day.

Could be worse… You could be Warren Kinsella, doing ‘woke 2025’ on Twitter, complaining “somebody got to” the Globe and Mail…

#130 Damifino on 10.11.19 at 1:21 pm

#128 crowdedelevatorfartz

Deeply cynical, you old crosspatch.

But thanks… gave me a good laugh.

#131 Sail Away on 10.11.19 at 1:35 pm

#125 Shawn Allen on 10.11.19 at 12:11 pm

Many of us are not setting a great example for the kids.

————————————-

A terrible example for kids are parents who remain as adult-children because they’re so worried about social norms, fair play, and offending nobody. Do your own thing, offend some people, get angry. If you want a cigar or drink, then by god, do it without sneaking around.

Kids have to be raised with respect for their own mind. Mincing, tentative parents are awful.

#132 SoggyShorts on 10.11.19 at 1:35 pm

#125 Shawn Allen on 10.11.19 at 12:11 pm
RE: health issues with drinking

I think one of the biggest differences between drinking and smoking is that 99%+ of smokers smoke way too much (the guy who smokes a cigar on Sundays is probably OK) vs Alchohol where there are many more who don’t drink “too much.”
E.G. I’m pretty sure the negative health impacts of booze on a guy like me who has maybe 50 beers and 4 bottles of wine per year is negligible.

I could be wrong though, maybe “casual” drinkers are just as rare as those who smoke a few packs per year.

#133 Bytor the Snow Dog on 10.11.19 at 2:01 pm

#82 MF on 10.10.19 at 8:42 pm sez:

“72 Nonplused on 10.10.19 at 7:51

Colour the walls maybe not.

Infect your lungs with a mysterious life risking infection, maybe.

Let’s not try to sugar coat it. Disgusting habit. Just as dangerous as cigs or weed but with a different risk profile.

MF”
————————————————————

I betcha when you’re walking around in “sterile” Toronto you wear two pairs of latex gloves dontcha? You know, the inner pair just in case the outer pair breaks?

#134 Not So New guy on 10.11.19 at 2:02 pm

What the market needs is an Uber app for dope.

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

I’ve got the perfect name for some ‘budding’ entrepreneur:

Doober

#135 Sold Out on 10.11.19 at 2:11 pm

In 2015/16, more Canadians were hospitalized for causes directly associated with alcohol than were hospitalized for heart attacks. These are conditions directly associated with alcohol use – ie: cirrhosis, liver failure, acute withdrawal, acute intoxication, etc. Indirectly caused conditions – cancer, MVI, inter-personal violence, etc would be ~70% of the harms associated with alcohol use.
If we’re going to get hysterical about mind-altering substance use, let’s at least direct our energies to where the harm actually originates. Alcohol use is the most harmful habit society legally permits. Marijuana would have to be sold with an obligatory AK47 to even begin to approach the damage done by alcohol consumption. Even then, stoners would trade the AK for a nerd of hash and a cheesecake.
25 years as an emergency responder; give me a party full of stoners over a drunk any day, all day.

#136 James on 10.11.19 at 2:19 pm

#55 april on 10.10.19 at 6:46 pm

People may not be allowed to smoke inside their units but does that include their balconies. I know people who say the smell of cigarette smoke and also from smelly scented candles wafts right up into their unit while the neighbours below are socializing on their balcony. If these condo buildings are supposed to be smoke free then it should include the balconies.
___________________________________________
I have news for you! Condos are open territories where the owners do what they want. Board members have no guts to enact anything meaningful to deter flagrant violations of the statutes and memorandums. The board members are afraid of some of the owners as you never really meet anyone other than your next door neighbours in a condo. You have to remember you are thrown into a swimming pool with hundreds of people at one time. Most of which you would never associate with on a regular basis. We had one guy who drove a Bentley and was on the penthouse that was taken out of the building one evening in handcuffs. Let’s just say he was a proprietor of ladies of the night business. So you don’t really know who you are going to run up against in a fight with the board. Out of every condo I have ever been in including the one my wife and I owned briefly before giving our heads a good shake they have all been terrible. People who own them do what they want. Quite a lot of owners smoke marijuana, grow it and cook with it. It smells the entire floor and the floors above and below with a pungent smell of skunk! So if you don’t like skunk then stay the hell out of a condo. Cigarette smoking is just as bad except for the fact that it smells like a bar in the USA on a Saturday evening. By law your entrance doors must not be air sealed do to some air circulation city code and maintain a positive pressure in the halls. My spouse’s pet peeve was neighbours cooking with curry and or anything spicy. It never leaves the building and is there forever. Yes smelly scented candles permeate the building as well. I hate cinnamon with a passion to this day due to a neighbour burning these damn things 24/7 to hide their marijuana smoking habits. Balconies are open territory, prove that someone was smoking on it! We had our furniture on the balcony burned twice because of idiots tossing cigarette butts.

#137 James on 10.11.19 at 2:24 pm

#112 Sue on 10.11.19 at 9:12 am

Wow! anyone else surprised by all the druggies coming out of the woodwork? What’s even more entertaining is seeing how they’re all trying to justify their stupidity because yeah smoking marijuana is soooo much better than cigarettes LOL.
Proof it does make you stupid
Party on people
_____________________________________________
Smoking is smoking full stop!

https://adai.uw.edu/marijuana/factsheets/respiratoryeffects.htm

#138 jess on 10.11.19 at 2:26 pm

Trump loses appeal to stop House subpoena of his tax documents

“A congressional committee, as committees have done repeatedly over the past two centuries, issued an investigative subpoena, and the target of that subpoena, questioning the committee’s legislative purpose, has asked a court to invalidate it,” the majority opinion states. “The fact that the subpoena in this case seeks information that concerns the President of the United States adds a twist, but not a surprising one.”
Though the court’s decision was split, the case is widely considered to be a tough one for Trump, even with support from the Justice Department.
“We detect no inherent constitutional flaw in laws requiring presidents to publicly disclose certain financial information. And that is enough,” the opinion states.

#139 n1tro on 10.11.19 at 2:32 pm

#134 Not So New guy on 10.11.19 at 2:02 pm
What the market needs is an Uber app for dope.

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

I’ve got the perfect name for some ‘budding’ entrepreneur:

Doober
—————–
Change the “D” to a “B” and the app would be a godsend for aspiring ladies of the night who wants to be independent contractors.

#140 jess on 10.11.19 at 2:49 pm

lindsay graham :

wants prayers for the kurds who trump adm. has abandoned and then says
Sen. Lindsey Graham prank called by Russians
Two Russians posed as Turkey’s defense minister to call Sen. Lindsey Graham. In the call, Graham called the US-allied Kurds a “threat” to Turkey.

=========
Below is a list of the 24 Wall Street firms (known as primary dealers) that are exclusively eligible to receive the hundreds of billions of dollars in overnight and longer term loans from the Fed via its regional bank known as the Federal Reserve Bank of New York (New York Fed). This loan program began abruptly on September 17 of this year.

Federal Reserve’s 24 Primary Dealers (Source: Federal Reserve Bank of New York)

Of the 24 firms, only one has the word “bank” in its name. That’s the U.S. branch of the Bank of Nova Scotia.

https://wallstreetonparade.com/2019/10/two-investment-banks-eligible-for-todays-fed-loans-got-over-2-trillion-from-the-ny-fed-in-the-last-crisis/

#141 Ace Goodheart on 10.11.19 at 2:58 pm

Not sure if you lot have seen this yet:

https://www.bungol.ca/

It was posted on here some months ago. I have been following it with interest. You can obtain a login just by giving an email address, and then it’s point and click away.

When you get the map, to find out the really interesting stuff, you need to click on the red bordered white button “delisted” on the left side of the map page.

This little website exposes what the home selling industry has been doing, to get their home sales statistics.

For example, I have found houses listed originally at $800,000.00, which sat on the market for months, then were de-listed, and then brought back on, at say $500,000.00 and then went on to sell for $600,000 in a bidding war.

These houses are said to have sold “over asking” by $100,000.00, therefore an indication of a “hot” market.

But they don’t tell you that the house was originally listed at $800,000 and then sat on the market for months with no bids. So actually it went for $200,000 UNDER asking.

Look at various neighbourhoods in Toronto and be sure to click on the red and white “delisted” button to get all the gory details.

Things are not in any way as rosy out there as they are being portrayed. There are a lot of properties being listed, sitting around, and then being de-listed and then re-listed for much less. Many are just being de-listed and then not actually sold.

We were only being told what is sold, and for what price versus the asking price at the time. This is giving us a lot more information.

#142 Dharma Bum on 10.11.19 at 8:56 pm

To all the millennial haters out there: boomers are gonna be here for a long time, and YOU’RE gonna be paying for us! Hahahahaha!
Enjoy.
https://www.bbc.com/worklife/article/20190930-the-untapped-potential-of-the-longevity-economy?utm_campaign=eNewsletter%20Longevity%20Insider&utm_source=hs_email&utm_medium=email&utm_content=77909949&_hsenc=p2ANqtz–TYMjwqMNJ-jBkxG3tkfd3RmgWlJZFUEzAkJ6HMEUKbdxpTbV0M63RyrDf528gfLRn4AA70ImJ5GlfF_E8V47Dta13Y-73EzfRCFQLP5WZek6WSks&_hsmi=77909949

#143 Joe on 10.12.19 at 12:04 pm

One of the biggest problems with the pot stocks is that alot of the companys are reverse takeovers. These companies werer mining companies and were bought by pot companies as this was easier than putting a prospectus together etc to get a listing. The problem is/was is that they had to take on the outstanding shares of these mining companies that already existed. You can look up any pot company and the majority have over 200,000,000 shares outstanding, Canopy has 350,000,000, how can these companies increase their EPS(earnings per share) with that many shares , and as we all know EPS drives share price.