Of sheds and men

Ottawa is such a riotous place that we have yet another report today on what may be about to shake the real estate world. But first, a glimpse into the wonderful world of amateur (and illegal) landlording, also from the nation’s capital.

This Kijiji listing has appeared, looking for a nice “professional working male” who is daft enough to move into some lady’s garden shed in the burbs. Gail writes:

SHORT OR LONG TERM STRESS FREE STUDIO/ROOM, NOT LOCKED INTO A LEASE. SEPARATE FROM MAIN HOUSE, FULLY FURNISHED. FRESHLY PAINTED, WELL INSULATED, HEATED & ELECT. INCLUDED. IMPECCABLY CLEAN & QUIET FOR A PROFESSIONAL WORKING MALE. QUICK ACCESS TO DOWNTOWN & HIGHWAYS. ALL CONVENIENT STORES AT YOUR DOOR-STEP. SNOWPLOWED PRIVATE PARKING & CLEANING SERVICE OF LINENS & VACUUMING PROVIDED. All you need is your suitcase ! Please communicate by phone. Reference is required
ALL INCLUSIVE_ COMFORTABLE NEW MATTRESS WITH QUALITY LINEN _ UNLIMITED WIFI , TV _ SMALL KITCHEN TABLE, FRIDGE, MICROWAVE, _ COFFEE MAKER, KETTLE , TOASTER, DISHES & UTENSILS _ COMFORTABLE WORK CHAIR AND DESK _ AMPLE SHELVES, DRESSERS< LARGE ITALIAN CLOSET & STAND UP COAT & HAT HANGER _ LAUNDRY FACILITIES INSIDE _ TENANTS PRIVATE PARKING _ & BACK YARD PRIVACY. IT COULDN’T BE MORE QUIET !
SHORT & LONG TERM RATES : NOT BOUNDED TO A LEASE
– $50. per night, minimum a week – $ 450. /2wks – $650.mo. 4wks _ $675. mo.4wks, Inclu. Private Parking

Of course if this were in Vancouver, Gail could sell it for $899,500. Anyway here it is, inside and out:

$     $     $

Yesterday regional finance ministers beat on Morneau for more money than the $81 billion Ottawa will transfer to the provinces this year. What will Bill do? Cave, of course. There are Quebec separatists in Parliament and Wexiters organizing in AB. Several provinces are suing over the carbon tax and every single government wants more health care cash. No doubt the Trudeau minority government will pony up more – then have to cover that with increased tax.

As we told you yesterday the federal finances are already deep in the red, suggesting the prime minister fibbed during the election. Just weeks after the vote we learned about a massive job loss in November (over 70,000 people punted) and a way bigger hole in the budget (another seven billion in deficit). The projections Morneau gave us Monday did not take into consideration massive new spending announced during the campaign (expanded child payments and the shared equity mortgage, among more), and certainly not the new billions provinces will get.

But does anyone care?

Well, this is interesting. It’s a poll done by Bloomberg asking the elitist, rabid, right-winger, capitalist, Porsche-driving overlords who populate that site to weigh in on the financial plan the government unveiled this week. They’re not buying it. Maybe you shouldn’t either. Man those tax shelters!

$     $     $

More Bill. The PMO gave our finance guy a mandate letter recently telling him to review the mortgage stress test to make it “more dynamic.” That’s been interpreted in real estate circles as a defanging of the rules which have kept up to 20% of young buyers on the sidelines, depressed sales and jacked the price of lower-cost homes. You may recall this was the Cons’ position during the election. Not their finest hour.

Details have yet to emerge on how the test will be neutered, but meanwhile comes news people may once again be able to mortgage $1 million+ houses with small downpayments. You may remember that dearly-departed F, the elfin deity, put the kybosh on this seven years ago as a way of cooling off the market. Prior to that buyers could finance a seven-figure house with just 5% down and a CHMC-insured home loan. After the change, the minimum deposit was made 20% and no taxpayer-backed mortgage.

Now, reports broker/blogger Rob McLister, Genworth has applied to the feds for permission to insure million-dollar-plus mortgage when a buyer has but 10% down on a property worth up to almost $2 million. The good news is that the buyers would have to pay their own loan insurance (costing maybe 4% of the face value), so CMHC wouldn’t cover. The bad news is this helps cause house price inflation.

The target market: young, highly-paid professionals (doctors, lawyers, dentists, people who publish free financial blogs) with fat incomes but little saved, who are happy to shoulder one mother of a big borrowing. Genworth and others see this as a beachhead for the creation of a privately-insured mortgage market in Canada, taking some pressure and risk off CMHC or the banks. Good thing, since taxpayers today are on the hook for the vast majority of all residential loans.

By the way, what do you need to buy a $1.75 million house in Toronto with 10% down?

Cash of $175,000 plus enough to cover land transfer tax of $62,950 and $6,300 for insurance, then monthly payments of $7,500 (plus insurance and property taxes), requiring an income of a bit less than $270,000. And that would buy you an unrenovated bung in midtown.

Or, you can call Gail.

 

113 comments ↓

#1 CBo on 12.18.19 at 3:56 pm

Mortgage debt is as addictive as smoking in the 60’s-90’s. Bad for your health, but everyone’s doing it.

#2 realitybytes on 12.18.19 at 3:57 pm

“It’s a poll done by Bloomberg asking the elitist, rabid, right-winger, capitalist, Porsche-driving overlords who populate that site to weigh in on the financial plan the government unveiled this week.”

That poll might as well just asked “did you vote for Justin Trudeau?”

#3 604sam on 12.18.19 at 4:05 pm

The shed doesn’t even have a bathroom!

#4 Canadian in Oz on 12.18.19 at 4:06 pm

Does Gail think guys just crap in the great outdoors? Or are you expected to bring your own bucket?

#5 Linda on 12.18.19 at 4:07 pm

‘Young, highly paid professionals’. Questions arise. As in, how many YHPP are roaming Canada, looking for a house to purchase? Any guess as to percentage of the overall Canuck population? Would these YHPP be the much taxed 1%? Would these YHPP’s have student debt to pay off & how much of that remains unpaid?

Now, I totally get that locking said YHPP into massive debt would go a long way to keeping them around, diligently handing over most if not all of their income for the majority of their working careers. A definite win from the tax collector/finance industry side of things, but not that great for the debt slaves in question. As much as I love owning my own home, I would not consider purchasing in the overpriced markets of today. Too much risk for far too little reward. Plus the stress of carrying that much debt would definitely be a health risk:)

#6 FreeBird on 12.18.19 at 4:27 pm

Chez garden shed has no toilette or loo facilities? Do you make the midnight dash to the house or is there a hidden toilettes extérieures? Either way dress accordingly…

#7 Leon T on 12.18.19 at 4:35 pm

Hey Garth, what’s your take on Pierre Polievre and do you think he would make a good PM should the cards fall in his favour?

If the masses can’t spell “Scheer” how will they do with “Polievre”? – Garth

#8 JSS on 12.18.19 at 4:36 pm

I love Gail. I learned a lot from her.
I bought a lot of jars from dollarama.

#9 And if you could afford that home on 12.18.19 at 4:39 pm

If you were smart enough to have that income of $270K, then it’s also very unlikely you are silly enough to want to pay that amount of money and be saddled to a crappy bung for more than 20 years paying it off. That’s my experience working in Vancouver with colleagues where their family incomes were likely over $200K and they were all sitting on the side refusing to leeple with the sheeple.

Which makes you wonder how all that money was squeezed out to afford the drive up in Van and TO. Only time will tell, but me suspects many shirts are being lost off backs below the msm.

I for sure know the guy that bought our house in N. Van flipped it a year later for $200k less. So close to $300K loss in one year inclusive of carry costs and fees. I suspect the fool that bought it from that fool would do a good deal if they could sell it for $400K less than what they paid 2 years ago.

#10 HoweStreet.com on 12.18.19 at 4:43 pm

Ross Kay on HoweStreet.com Radio:
Falling Home Price Data Causes Rising Average Prices.
Household Debt not always bad.

https://www.howestreet.com/2019/12/ross-kay-home-prices-household-debt/

#11 NoName on 12.18.19 at 5:05 pm

@135 Sail

Yes, it’s the real me. Try navigating high school with a name like ‘Sail’ and you’ll understand.

Than i have perfect song for you about highschool troubles…
https://www.youtube.com/watch?v=tgIqecROs5M

#12 Entrepreneur on 12.18.19 at 5:11 pm

I also like Pierre Polievre #7 Leon T., speaks up and would be a great leader, ex. SNC-Lavalin.

I have to agree with Linda in that Scheer suggested he would balance the budget and Mad Max said the same thing. The Conservatives would have been better of picking Mad Max as their leader, a fighter. He also spoke up about SNC-Lavalin.

All the Conservative leaders need to do is address the climate change platform but in a serious form, will beat T1 hands down.

Not like T1, and what is really bad is that he combines fossil fuels and climate change in the same sentence/paragraph, like it goes in “hand-in-hand” and under control, lol.

I suppose debt and climate change goes “hand-in-hand too, lol.

#13 AGuyInVancouver on 12.18.19 at 5:11 pm

If the masses can’t spell “Scheer” how will they do with “Polievre”? – Garth
_ _ _
I was seriously surprised to find out Erin O’Toole was a dude, so little was interest in the last Tory leadership convention.

#14 That's it ... on 12.18.19 at 5:13 pm

I’m renting out my 8 foot camper. Maybe put a few around the back yard on cinder blocks with an extension cord to each. Between the legal pot plants of course.

#15 SunShowers on 12.18.19 at 5:14 pm

Why is Gail so hung up on renting the shed to a man?

Is she just assuming no woman would want to live in a single detached room with no toilet, and men would have fewer objections to just…uhh…mulching their fertilizer into the garden?

#16 JonBoy on 12.18.19 at 5:24 pm

Gail gets $675 (cash, probably) every month in return for not storing her bicycle and some garden tools in the shed. Seems like a great return on “investment” to me!

Honestly, I think there are a ton of single people that would jump at the chance for an all-for-one-price place to live. It won’t impress anyone but it’d be a godsend for someone trying to pay off debt, get experience at a low-paying job or someone wanting to save for a place of their own.

Since the listing is down, I’m guessing she got a renter PDQ…

#17 Sail away on 12.18.19 at 5:26 pm

Haha- prices will be a-rising.. I should be able to flog the Shaughnessy home this spring!

Ponzie, give me a call and we’ll cut out the realtor then share a bottle of the finest Slivovitz money can buy. Prost!

#18 Sail away on 12.18.19 at 5:46 pm

You could always move to South Dakota and rent this entire house for $675:

https://www.zillow.com/homedetails/805-N-Irene-Pl-Sioux-Falls-SD-57107/91821308_zpid/

#19 Leon T on 12.18.19 at 5:53 pm

If the masses can’t spell “Scheer” how will they do with “Polievre”? – Garth

LOL! Well played sir… can you really blame a millennial for not proof reading ;)

#20 Samuel on 12.18.19 at 5:53 pm

I see Gail caught herself in the mirror in her picture. She is almost famous now.

#21 Don Guillermo on 12.18.19 at 5:55 pm

#2 realitybytes on 12.18.19 at 3:57 pm
“It’s a poll done by Bloomberg asking the elitist, rabid, right-winger, capitalist, Porsche-driving overlords who populate that site to weigh in on the financial plan the government unveiled this week.”
******************************************
Pretty much sums me up (minus the elitist, rabid, overlord parts) and yes, I did vote on the Bloomberg poll. Again, Canadians are getting exactly what they voted for.

#22 Lee on 12.18.19 at 5:57 pm

If Genworth is asking for permission, the demand must be there. There are a ton of couples in the GTA making $270,000 a year.

#23 Ponzius Pilatus on 12.18.19 at 5:58 pm

With the new tax on vacant F-150 trunks coming, many owners will probably rent it out.

#24 Rexx Rock on 12.18.19 at 6:02 pm

I found a better deal ! If your a digital nomad or a poor retiree .
https://www.youtube.com/watch?v=yP9m4dhXFyE

#25 Ponzius Pilatus on 12.18.19 at 6:05 pm

#115 crowdedelevatorfartz on 12.18.19 at 8:12 am
@#114 Sail Away

Worked for a bank for 30 years and it went bankrupt after he left.
Not sure I’d want that on the CV.

Obviously not a Canadian bank.
———————-
Yep, Canadian.
Hint: was subsidiary of VanCity.

#26 Sail away on 12.18.19 at 6:08 pm

#16 JonBoy on 12.18.19 at 5:24 pm

Gail gets $675 (cash, probably) every month in return for not storing her bicycle and some garden tools in the shed.

It won’t impress anyone but it’d be a godsend for someone trying to pay off debt…

——————————-

Now that’s a pragmatic expectation of a god. Forget the jubilee and everlasting life. One expensive rental garden shed, please!

Manna from heaven.

#27 Flop... on 12.18.19 at 6:08 pm

Of course if this were in Vancouver, Gail could sell it for $899,500. Anyway here it is, inside and out:-Thor Turner.

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

Prices are still elevated, but compared to 2016, you don’t even have to pass 900k to get a starter home in Vancouver proper anymore.

Some of them are pretty rough and ready, but only available because the developers have put their stun guns back in the holster.

The first one on the list that I would probably live in is this respectable starter home in Killarney.

They started off at 1.57 in late 2017.

It has been whittled down to 1.15 and they still can’t put a deal together.

Likely sticking point is trying to convince someone that the garden shed is a mortgage helper…

M45BC

https://www.zolo.ca/vancouver-real-estate/3122-east-47th-avenue

#28 Ustabe on 12.18.19 at 6:11 pm

#15 SunShowers on 12.18.19 at 5:14 pm

Why is Gail so hung up on renting the shed to a man?

Is she just assuming no woman would want to live in a single detached room with no toilet, and men would have fewer objections to just…uhh…mulching their fertilizer into the garden?

Maybe she is actually looking for a cabana boy?

Landlord with benefits?

Rather than vilify and mock Gail I would think a true conservative would applaud her ingenuity in being able to monetize her back yard.

#29 kommykim on 12.18.19 at 6:19 pm

RE:”federal finances are already deep in the red, suggesting the prime minister fibbed during the election.”

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

Isn’t that par for the course?

#30 Joseph R. on 12.18.19 at 6:20 pm

#5 Linda on 12.18.19 at 4:07 pm
‘Young, highly paid professionals’. Questions arise. As in, how many YHPP are roaming Canada, looking for a house to purchase? Any guess as to percentage of the overall Canuck population? Would these YHPP be the much taxed 1%? Would these YHPP’s have student debt to pay off & how much of that remains unpaid?

————————————————-

YHPP = Yuppies (Young Urban Professionals). Are you old enough to know that term?

Generally, they gravitate towards condos to live up the urban lifestyle. City planners attract them through gentrification, free Wi-Fi.

#31 Ponzius Pilatus on 12.18.19 at 6:28 pm

#133 Sail away on 12.18.19 at 11:38 am
Ponzie, I know some good things come from Austria, like my beautiful 1947 side by side built by master Johannes Hambrusch of Ferlach, the town created from the gun-making guild.
—————————-
Lots of good stuff coming out of Austria including yours truly.
Not a gun person, but I hear the Glocks made in Ferlach are quite good.
Also from that area comes the newly minted co-winner of the Nobel prize for literature Peter Handke.
And I could go on and on, but no one likes a braggart.

#32 Flop... on 12.18.19 at 6:31 pm

#7 Leon T on 12.18.19 at 4:35 pm
Hey Garth, what’s your take on Pierre Polievre and do you think he would make a good PM should the cards fall in his favour?

If the masses can’t spell “Scheer” how will they do with “Polievre”? – Garth

///////

I’m fine with Poilievre.

I find him to be honest and transparent.

He has the word “lie” in his surname…

M45BC

#33 yvr_lurker on 12.18.19 at 6:51 pm

I can say for sure that if I was in that boat of making big $$$ at a rather young age, and with no “family plan” to help get started, there is no way I would even consider being in YVR or Toronto. Think of it this way; going from 200K to 250K salary, you get only an extra 2K per month once you pay the <50% marginal. That would cover an extra 300K roughly on a house purchase with a 25 year loan. Might as well just move to a smaller city (Edmonton, Calgary, Ottawa, Halifax) if you can still get a decent (but not as high) salary, and you will in the end be way ahead. YVR and Toronto (where I just went for a work trip last week) are fast becoming over-crowded and over-expensive dumps. The number of homeless people wandering up and down Younge street near the Chelsea was a real eye-opener. Get out while you can. You really don't need to live in a city where you can get a poke ball at midnight.

#34 Shirl Clarts on 12.18.19 at 6:56 pm

#27 Flop… on 12.18.19 at 6:08 pm

^^^^^^

Agreed. Their 2017 asking was a bit greedy.

Actual sales in that hood in the last 6 months range from $1,086,000 to $1,850,000. All under assessed value.

Ex: a Vancouver “Special” in that hood just sold on Dec 2nd for $1,450,000, under assessed.

https://www.bcassessment.ca/Property/Info/QTAwMDAwM0NTRA==/

Days till 2020 Assessments: 14

#35 Nonplused on 12.18.19 at 7:01 pm

A $62,950 land transfer tax? It’s a wonder that alone hasn’t driven sales to zero.

Anyway, more on the craziness of our world and proof that everything on TV is staged including the news:

https://www.zerohedge.com/geopolitical/lights-camera-greta-teen-environmentalists-viral-rise-has-been-documentary-whole-time

We should have known it all along. Otherwise there is no explaining where she came from. It also explains why she was sitting on the floor of a train for a photo-shoot when she had a seat in first class. The title is misleading but if you read the article her whole “team” was in first class.

https://nypost.com/2019/12/15/german-railway-claims-greta-thunberg-lied-about-taking-first-class/

And Trump should be impeached shortly in another made for TV production. They’ve got him on “abuse of power” and “obstruction of congress”, neither of which is technically an impeachable or criminal offense. But it’s a made for TV political theater.

Of course the house will impeach along party lines and likewise the senate will not. The riots are scheduled for January. Expect a lot of things to be burning in the streets, all of which will be covered 24-7 by CNN. What a farce.

Once things calm down the Democrats will be faced with the prospect that most Americans really didn’t want to see cars on fire in US cities and will now vote Trump in for a second term in an even bigger landslide than last time. It will be an even messier election than last time. In 2016 “the resistance” and “Antifa” didn’t really exist yet because no-one saw Trump stealing the election fair and square from her highness. In 2020 there will be brawls and violence of all sorts outside of the poling stations. And then when Trump wins again there will be a week of violence with the protesters getting free food from food trucks sponsored by CNN. It’s going to be riveting TV so make sure you have lots of popcorn. It also might not be a great time to visit Portland or Chicago.

I don’t know what CNN is cooking up to fill the air waves once the riots settle down, the Republicans will be fully in charge of all three branches of government so they won’t be able to do a second impeachment attempt. Maybe they’ll foment another war in the Middle East or something, I don’t know. It won’t be against Russia because you can’t sell ads after life on earth ends, so expect maybe they will follow through against Iran. They are the perfect target because it will be much bigger than the second Iraq war, even bigger than the first I imagine. If Iran manages to set a US carrier group ablaze that is going to sell a lot of ads and send ratings through the roof! Plus unlimited military spending! What’s not to like if you are a psychopath?

Remember folks, if it is on TV it isn’t real. They are selling you ads.

#36 Axehead on 12.18.19 at 7:04 pm

The shed is a step up from Bubbles shed in Sunnyvale, but not by much.

#37 Nonplused on 12.18.19 at 7:09 pm

#28 Ustabe

“The House Renting Blues”

https://www.youtube.com/watch?v=–AvCsh48bk

#38 Treasure Island CEO - 58,943,493.88 Offshore on 12.18.19 at 7:10 pm

Ajax developer: facial recognition ‘confirmed’ man was wanted but Canadian border agents admitted him anyway.

What does the mayor of Ajax have to say about that: “he is a great friend and real estate developer in our community”

#39 Dave on 12.18.19 at 7:10 pm

The only saving grace is that the real estate market is slowing down…why buy now when prices are dropping. In the past no one cared because prices were increasing exponentially

#40 Shirl Clarts on 12.18.19 at 7:13 pm

#21 Don Guillermo on 12.18.19 at 5:55 pm
^^^^^^^^^^^^^
If you are referring to the 2015 election, the one where the Liberals eviscerated the Cons to take a Majority, then yes. Otherwise quit your whining.

#41 TurnerNation on 12.18.19 at 7:23 pm

Learn from history our future. We are the 60%

https://en.wikipedia.org/wiki/Cloward%E2%80%93Piven_strategy

“The Cloward–Piven strategy is a political strategy outlined in 1966 by American sociologists and political activists Richard Cloward and Frances Fox Piven that called for overloading the U.S. public welfare system in order to precipitate a crisis that would lead to a replacement of the welfare system with “a guaranteed annual income and thus an end to poverty”

#42 short horses on 12.18.19 at 7:44 pm

When I was still young and recently graduated, Gail’s Chateau de la Voiture was exactly the kind of place I wanted to keep costs down (and loan repayments up). If it’s also steps from a bus stop then it’s truly a gem.

#43 TurnerNation on 12.18.19 at 7:50 pm

A regular reminder that we have broken the planet. Look around you, see how broken things are?

It turns out, Carbon – the most plentiful element – is the Earth’s Climate Control Knob.
Also it is the Earth’s Heat Control Knob.
Observe: it is, also the Earth’s Climate Amplifier Knob.
So simple a kid can understand. Science yo. And we’z about to hit 11 .

Oh it’s coming all right. Hunker down to:
More rain, less rain; more snow, less snow; more heat, less heat; more cold, less cold; more sunshine, less sunshine; more moisture, less moisture; out of control waves, tsunamies, hurricanes, cyclones, tropical disturbances, tropical depressions. Watch the oceans rise up in anger! Sell your waterfront properties now!!

What is the goal of C.C?
Let’s ask our elites:

“Sir David Attenborough has said it is ‘too late’ to reverse climate change and warned of mass civil unrest if steps aren’t taken to address the crisis. The broadcaster and natural historian added that ‘the best we can hope is that we will slow it down and slow it down considerably’. He made the comments during an interview with Channel 4 News.
“Jon Snow told the legendary environmentalist an 11-year-old had written in to ask what the worst thing to happen in his life would be ‘if we don’t tackle climate change’.

Sir David replied: ‘I think civil unrest on a great scale, and mass migration on a great scale.”

Wait what was that? You don’t say.

#44 SoggyShorts on 12.18.19 at 8:22 pm

#38 Treasure Island CEO – 58,943,493.88 Offshore on 12.18.19 at 7:10 pm

Whoa, did you just get a 20m bonus or….?

#45 Impeachment 2019 on 12.18.19 at 8:25 pm

Merry Christmas!

#46 Drill Baby Drill on 12.18.19 at 8:28 pm

Hey that souped up garden shed must come with one pair of depends per day.

#47 the Jaguar on 12.18.19 at 8:32 pm

Love the dog photo tonite. I have seen cats respond the same way. Little hedonistic monsters…..

#48 Drill Baby Drill on 12.18.19 at 8:32 pm

GM’s last pickup trucks limped off the line today in Oshawa after 66 years. Coupled to the November 70K job loss the employment trend in down.

#49 Gravy Train on 12.18.19 at 8:41 pm

Donald J. Trump is the third U.S. president in history to be impeached, and the first U.S. president in history to be impeached in his first term of office.

#50 Asterix1 on 12.18.19 at 8:43 pm

That lady is also saving money on fertilizer for her garden.

#51 Sail Away on 12.18.19 at 8:50 pm

#11 NoName on 12.18.19 at 5:05 pm
@135 Sail

Yes, it’s the real me. Try navigating high school with a name like ‘Sail’ and you’ll understand.

———————————-

Than i have perfect song for you about highschool troubles…
https://www.youtube.com/watch?v=tgIqecROs5M

———————————–

Wow, that is literally (really, actually) me before I sailed to the Yukon and started the cotton plantation. After that, things went all Django.

#52 -=jwk=- on 12.18.19 at 8:51 pm

@ Russ #85 from a few days ago

Wow. The lines of data I presented in my post were literally *inches* above my response to you. Inches. Just right there. And you skipped over them to get to the part about you. That wasn’t even about you. And then complained you couldn’t find the facts and expressed all your feelings as if it was about you. Which it isn’t, but I digress.

@Don Guillermo

This is what you wrote:
In my snowbird community there is a good example of a failed actor scratching through retirement. I recall when he told me he informed his father of his career choice and me telling him my father would of kicked me square in the a$$ if I would have come to him with that. His father should have done the same. The “follow your dreams” phrase was almost non existent in my world.

Could you define what you mean by “snowboard community” which has historically meant FLA or AZ for Canadians? Either way, your ‘failed actor’ anecdote in the mystery’snowbird community’ which s/he is a member of (how nice) doesn’t change things on the ground for millenials does it?

If you set your bar low enough even you can have a nice “rich” retirement in some trailer park.

I’m old. I have an extremely expensive education collected over decades that has paid off handsomely. Very handsomely. We own lots of nice things, liek houses and land in various countries. We have all the savings we need. I even have a DB pension plan, which is hilarious because we never planned for that and it’s going to be a free 60k a year and it’s messing up our tax planning. But this isn’t about me. Or you. It’s about the huge benefits Boomers and GenX (like me!) had that millenials simply don’t. They. Simply. Don’t.

#53 IHCTD9 on 12.18.19 at 8:52 pm

#22 Lee on 12.18.19 at 5:57 pm

If Genworth is asking for permission, the demand must be there. There are a ton of couples in the GTA making $270,000 a year.
——

The demand for easier access to huge mortgage leverage in the GTA must be there you say?

Hahaha – that’s a good one!

You’re talking about a city where folks who serve coffee for a living would line up to borrow 5 million over 40 years at 8% and a 1% dp in order to buy a converted shipping container sitting on cinder blocks.

#54 Trumpocalypse2019 on 12.18.19 at 9:09 pm

And so the end begins…………………….

PREPARE

#55 Frank on 12.18.19 at 9:11 pm

I hope the masses can spell Charest

——————————————-
Hey Garth, what’s your take on Pierre Polievre and do you think he would make a good PM should the cards fall in his favour?

If the masses can’t spell “Scheer” how will they do with “Polievre”? – Garth

#56 Busta Rhymedo on 12.18.19 at 9:18 pm

Garth,

Hated to see you lament the other day about losing the Tory leadership race to Kim Campbell. Only 2 ways you could have won this one I am afraid. One, you could have topped Kim’s shoulder exposed photo by posing in a budgie smuggler, while holding a superman cape. Two, you could have gone by your real first name, John and confused enough people that John Turner has jumped from the liberals to the Tories.

Send you my bill at the end of the month.

#57 Dr. Peter Allen on 12.18.19 at 9:20 pm

BANNED

#58 paracho on 12.18.19 at 9:33 pm

As one of the commentors noticed ..there is no mention of a washroom /shower etc in this unti. There are untis like this in Toronto . Saw a few and one particularly in the Spadina and College area. The house was being flipped last year and the coach house became a ‘two unit’ dwelling . The house had stairs that wwere more like a ladder. The coach house out back..backed into an alleyway and the 2 untis had 1 ‘shared washroom ‘.

#59 Loonie Doctor on 12.18.19 at 9:36 pm

#3 604sam on 12.18.19 at 4:05 pm
The shed doesn’t even have a bathroom!

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

I think that is why she is looking for a professional male. You saw the bushes to the right of the shed…
-LD

#60 45north on 12.18.19 at 9:43 pm

More Bill. The PMO gave our finance guy a mandate letter recently telling him to review the mortgage stress test to make it “more dynamic.” That’s been interpreted in real estate circles as a defanging of the rules which have kept up to 20% of young buyers on the sidelines, depressed sales and jacked the price of lower-cost homes. You may recall this was the Cons’ position during the election. Not their finest hour.

no it wasn’t their finest hour. How could they be so stupid?

#61 crowdedelevatorfartz on 12.18.19 at 10:01 pm

@#25 Ponzie Power
“Yep, Canadian.
Hint: was subsidiary of VanCity.”
++++

Geez , had to google THAT one.
Soooo, the Citizens “Bank” was a subsidiary of a Credit Union????
How’s THAT work in the Canadian chartered “Bank” system?
Did they call themselves a bank when they werent actually a chartered bank?

And please hurry with the answer…..I have to use the bathroom…….

#62 crowdedelevatorfartz on 12.18.19 at 10:10 pm

@# Treasure Island CEO – 58,943,493.88 Offshore

I’m very disappointed.
You havent doubled your money in a year…

#63 YouKnowWho on 12.18.19 at 10:13 pm

Garden Shed?
$2M T.O. detached?

Just get yourself this 5 berm detached for $29,990 USD in Buffalo. Buy a Escalade for the drive over to the precious city that is Toronto, when and if you need it. Invest the other $1.9M

https://www.zillow.com/homedetails/182-Grape-St-Buffalo-NY-14204/30190041_zpid/

What’s that? Sheds are below your standards?

How about this house + Escalade + $1.7M invested?

https://www.zillow.com/homedetails/100-Lordan-Dr-Cheektowaga-NY-14227/30304228_zpid/

OR…just buy the $2M T.O. house and continue to believe we’re special. We are! Here is a ribbon for you to prove it!

#64 Yabba dab a doo on 12.18.19 at 11:18 pm

Buy a tent at Walmart $ 40 a couple of tarps, set up in the parking lot and a minus 20 sleeping bag. Way cheaper. No lease… If you get cold go inside when Walmart opens. Even better get a Costco membership and eat free samples all day staying warm , costs you just another $40 …And invest the rest.

#65 PastThePeak on 12.18.19 at 11:28 pm

From yesterday’s comments regarding MMT, and the assertions that this is already being practiced…

– Traditional fiscal debt finance is not MMT.

– Quantitative Easing (QE) performed by the Fed and other CBs over the past decade is not MMT, although some aspects are similar (the money printing part).

– MMT has not yet been practiced in the western economies in modern times

MMT as espoused by Stephanie Kelton is more direct money printing and delivery to the different parts of society – without necessarily using the “middle process” of actually issuing debt. Just print the money needed to do “things” and spend it.

Need to give a Universal Basic Income – create money and give it to the people.
Need infrastructure built – create money and use it to pay people to build stuff.
If inflation gets out of hand, raise taxes which “destroy money” (collect it back to the government, which is creating it).

A completely untried financial system in modern times, but which seems to violate a few laws of reality (there is no free lunch), and likely to cause hyper inflation.

But sure…why not…what could be the harm…

#66 Yabba dab a doo on 12.18.19 at 11:38 pm

Buy a tent at Walmart $ 40 a couple of tarps, set up in the parking lot and a minus 20 sleeping bag. Way cheaper. No lease… If you get cold go inside when Walmart opens. Even better get a Costco membership and eat free samples all day staying warm , costs you just another $40 …And invest the rest.

Bi polar disorder. who me or you?
https://t.co/DutxclyZw9

#67 NoName on 12.18.19 at 11:52 pm

#51 Sail Away on 12.18.19 at 8:50 pm
#11 NoName on 12.18.19 at 5:05 pm
@135 Sail

Yes, it’s the real me. Try navigating high school with a name like ‘Sail’ and you’ll understand.

———————————-

Than i have perfect song for you about highschool troubles…
https://www.youtube.com/watch?v=tgIqecROs5M

———————————–

Wow, that is literally (really, actually) me before I sailed to the Yukon and started the cotton plantation. After that, things went all Django.

Thats funny, look at the bright side you could ended up like me. :-)

#68 AACI Homedog on 12.19.19 at 12:12 am

I do not think Gail could sell that separately, unless it has its own title.

#69 Don Guillermo on 12.19.19 at 12:19 am

#40 Shirl Clarts on 12.18.19 at 7:13 pm
#21 Don Guillermo on 12.18.19 at 5:55 pm
^^^^^^^^^^^^^
If you are referring to the 2015 election, the one where the Liberals eviscerated the Cons to take a Majority, then yes. Otherwise quit your whining.
******************************************
Kind of funny what you think whining is … but anyways I don’t care. Your ” because it’s 2015 ” sunny boy Skippy promised you something he can never deliver (you may figure it out someday but I doubt it). Anyways, it has no impact on me so enjoy your life digging out of the mess.

#70 DON on 12.19.19 at 12:32 am

Financial Times London

Article on Offshoring – diminishing returns or do they move to Africa and Boliva and repeat?

“Offshoring slows as wages rise in some emerging economies.

Narrowing pay gaps are reducing competitive advantage for traditional destinations”

https://www.ft.com/content/258213ac-181c-11ea-b869-0971bffac109

The wheels on the bus go round and round…

#71 Don Guillermo on 12.19.19 at 1:00 am

#52 -=jwk=- on 12.18.19 at 8:51 pm

I’m old. I have an extremely expensive education collected over decades that has paid off handsomely. Very handsomely. We own lots of nice things, liek houses and land in various countries. We have all the savings we need. I even have a DB pension plan, which is hilarious because we never planned for that and it’s going to be a free 60k a year and it’s messing up our tax planning. But this isn’t about me. Or you. It’s about the huge benefits Boomers and GenX (like me!) had that millenials simply don’t. They. Simply. Don’t.
*************************************

OK extremely successful Gen X dude, you’re right. Millennials can never achieve anything so they should just give up and blame everyone around them. Perfect … btw, you’re not old you just sound like it.

#72 NoName on 12.19.19 at 3:36 am

I guessing there are few discrental pissed electricians. It getting funnier buy the minute…


France’s trade unions on Wednesday defended a series of illegal power cuts to 150,000 homes, thousands of companies and the Bank of France in an effort to force the Macron government to quash its wide-ranging pension reform, according to Reuters.

https://www.zerohedge.com/political/angry-french-pensioners-cut-power-central-bank-hint-more-come

#73 Jackie Bergan on 12.19.19 at 3:59 am

BANNED

#74 crowdedelevatorfartz on 12.19.19 at 8:21 am

@#52 jabberwockey
“It’s about the huge benefits Boomers and GenX (like me!) had that millenials simply don’t. They. Simply. Don’t.’

++++

All the more reason for them to cocoon in the parental units basement for free….because life is hard… especially when you’re ill prepared.

Newsflash:
Falling birth rates for decades.
Ageing work force for decades.
Lots of high paid work out there if they want it.
Just not for the “white collar” management HR types.

Time to get up and out of bed and go to work.
For the next 40 years.
Just like their parents and grandparents.
Boo Hoo. They’re not special.
Life sucks.

#75 crowdedelevatorfartz on 12.19.19 at 8:30 am

72 Noname
an effort to force the Macron government to quash its wide-ranging pension reform.
+++++++

Coming to a bankrupt public servant pension plan new you………

#76 Dharma Bum on 12.19.19 at 9:12 am

This Kijiji listing has appeared, looking for a nice “professional working male” who is daft enough to move into some lady’s garden shed in the burbs.
——————————————————————–

Oh, Man!

BUBBLES would love that shed!

Hey Bubbles…check it out…

https://www.youtube.com/watch?v=I72sWzXCvvw

#77 Dharma Bum on 12.19.19 at 9:31 am

Oh….and speaking of Canadian culture…I was wrong.

There IS a Canadian culture, and this is it:

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

https://www.youtube.com/watch?v=04u58ifxmRA

#78 Yuus bin Haad on 12.19.19 at 9:35 am

Bill has been overheard complaining about his new associate shadow. “Is that really in her mandate letter? Really?”

#79 Mississauga Mel on 12.19.19 at 9:38 am

153 Just snootin’ on 12.18.19 at 3:28 pm

“If you look carefully, you can see signs that American culture is being Canadianized. Subtlely, slowly. You can see obvious pain currently, but underneath a level headed consciousness is growing and undermining the lust for empire.”

Ralph Nader and Bernie Sanders are two prominent Americans who have extolled the greatest of Canada and continue to do so. Check out this book by Nader on Canada…

https://www.amazon.ca/Canada-Firsts-Ralph-Nader/dp/0771067135

#80 In Garth We Trust on 12.19.19 at 9:47 am

“Cash of $175,000 plus enough to cover land transfer tax of $62,950 and $6,300 for insurance, then monthly payments of $7,500 (plus insurance and property taxes), requiring an income of a bit less than $270,000. And that would buy you an unrenovated bung in midtown.”

Captain Garth, you forgot the property tax of $8498….

#81 RJ on 12.19.19 at 10:01 am

I rented a room 45 years ago much like Gails, but my bathroom was down the hall $65.00 per MONTH. I rented for many years without an increase and saved, saved and saved. Then I invested reinvested and reinvested again for 30 years. With a few ups and downs I ended up a multi millionaire. So living on the cheap will payoff and can set you up for a great future.

#82 Gregor Samsa on 12.19.19 at 10:08 am

You know that “healthy” debt to gdp ratio Morneau is always crowing about? Well, if you include all the provincial and municipality debt in Canada, the ratio becomes around 90%. Sound healthy to you?

#83 Keith in Rio on 12.19.19 at 10:11 am

LOL @ that listing. It’s 3AM and I’ve gotta go #2 bad. What does one do when it’s -20 and snowing eh ?

Nursing a sunburn after getting drunk at the beach a couple of days ago with my soccer buds. Wife and I are looking for a second property here. So far the contenders are 800′ with 2 bedrooms 2 bathrooms 2 blocks from the beach for about $125K CAD. Probably $1MM in YVR for same thing.

Meanwhile in YYC our condo we rent is now down 35% and from our anecdotal market viewpoint, nothing is selling at even close to asking. Lots of high end luxury units in Eau Claire that were $500-800K are now $300-500K and have been listed forever. With $700-2000 condo fees, is it any real surprise.

Question for you Garth……what happens to a building with condo fees so high that prices have dropped to ghetto levels, and marketability is lost ? I know there are some of those in TO as I have read about them online.

Merry Christmas and Happy New Year to all !!!

#84 Sail Away on 12.19.19 at 10:49 am

#83 Keith in Rio on 12.19.19 at 10:11 am

Wife and I are looking for a second property here. So far the contenders are 800′ with 2 bedrooms 2 bathrooms 2 blocks from the beach for about $125K CAD. Probably $1MM in YVR for same thing.

Meanwhile in YYC our condo we rent is now down 35% and from our anecdotal market viewpoint, nothing is selling at even close to asking.

Merry Christmas and Happy New Year to all !!!

———————————-

Thanks Keith, and the same to you.

A question for you: you mention you’re looking for a second property, so I assume you own the rental condo in YYC down 35%?

If that’s true, why would you look for a second property? There are many investments in this world- what added benefit would a condo in Rio offer?

I’m honestly interested in the thought process. I often rent vacation homes in different countries for a month or more at a time and the price can be ridiculously low. Why tie yourself to one location? Or, even so, why tie yourself to owning when so much can be rented long term in Rio?

#85 Renter's Revenge! on 12.19.19 at 11:05 am

#18 Sail away on 12.18.19 at 5:46 pm
You could always move to South Dakota and rent this entire house for $675

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

Hey, I thought we were keeping South Dakota our little secret! (#54 Sail Away on 11.24.19 at 4:36 pm)

#86 SimplyPut7 on 12.19.19 at 11:19 am

I think rising housing costs will finally show the strain they have had on Canadian budgets in 2020.

Not too worried about the weird times we are facing now. All good things eventually come to an end.

https://business.financialpost.com/pmn/business-pmn/flagging-retailers-are-canary-in-coal-mine-for-canadas-economy

Also, Sweden is starting to give up on negative interest rates, don’t know if this is temporary or a start of a trend with other countries that have or were thinking about exploring negative interest rates.

https://www.bloomberg.com/opinion/articles/2019-12-19/sweden-s-riksbank-has-had-enough-of-negative-interest-rates

#87 Stan Brooks on 12.19.19 at 11:41 am

Canadian Consumer Prices Among Fastest-Rising In Developed World

https://ca.finance.yahoo.com/news/inflation-canada-november-164107344.html

How idiots going further in debt affect everyone.

We will see for how long will this Ponzi scheme continue before the currency and the confidence in it collapses, with inflation of necessities far outpacing the ‘official’ 2.2 % inflation, most likely with real cost of living increasing north of 8 % (at least for increases in food and housing costs.).

Oh, it will be a great fun to watch from the sidelines.

Cheers,

#88 IHCTD9 on 12.19.19 at 11:48 am

#63 YouKnowWho on 12.18.19 at 10:13 pm
Garden Shed?
$2M T.O. detached?

Just get yourself this 5 berm detached for $29,990 USD in Buffalo. Buy a Escalade for the drive over to the precious city that is Toronto, when and if you need it. Invest the other $1.9M

https://www.zillow.com/homedetails/182-Grape-St-Buffalo-NY-14204/30190041_zpid/

What’s that? Sheds are below your standards?

How about this house + Escalade + $1.7M invested?

https://www.zillow.com/homedetails/100-Lordan-Dr-Cheektowaga-NY-14227/30304228_zpid/

OR…just buy the $2M T.O. house and continue to believe we’re special. We are! Here is a ribbon for you to prove it!
___

Ahh, I love math like that lol!

If the wife and I were to start over with a new house right now, no kids, current income, and out here in our current area:

Income $8350.00/month take home:

250K decent house, needs a little work to be nice, no problemo – 1200.00/mo

New Silverado High Country 0% 7 year plan – $850.00/mo

New YAMAHA 850 X2 R-Spec SE – $360.00/mo.

New YAMAHA Grizzly 700 SE – $225.00/mo

Nice Fishing Boat – $740.00/mo.

Still got $4975.00 left lol!

Nice Compact 4×4 Tractor c/w cab/loader – $636.00/mo.

2019 Corvette Z06 0% 7 year plan – 1300.00/mo.

Still got $3039.00 left!

Extra Grizzly just to clean and look at – $225.00/mo.

Nice Harley, I might get M1 some day – 550.00/mo.

Brand new Ferris IS 2600Z ZT mower – $300.00/mo.

OK, garage is bursting and still got almost 2K to live off of.

**OR** – buy a fugly un-renovated bung in Toronto for 1.6 Million – ~$7500.00/mo!

Got nothing else, and only 850.00 to live off of after paying just the mortgage…

#89 Sail away on 12.19.19 at 11:49 am

#81 RJ on 12.19.19 at 10:01 am

I rented a room 45 years ago much like Gails, but my bathroom was down the hall $65.00 per MONTH. I rented for many years without an increase and saved, saved and saved. Then I invested reinvested and reinvested again for 30 years. With a few ups and downs I ended up a multi millionaire.

So living on the cheap will payoff and can set you up for a great future.

——————————————–

Renting this shed could be a horrible move for Gail:

Hypothetically, one of our blogdogs, fresh off a handsome severance lawsuit could move in, pay rent for 3 months, then stop paying and refuse to ever leave, while also suing for plumbing and bathroom fixtures. They’d probably get another good settlement and a nearly free garden shed residence.

And Gail? Sorry, sucker, but it’s all about us [shrug].

#90 IHCTD9 on 12.19.19 at 12:27 pm

#77 Dharma Bum on 12.19.19 at 9:31 am
Oh….and speaking of Canadian culture…I was wrong.

There IS a Canadian culture, and this is it:

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

https://www.youtube.com/watch?v=04u58ifxmRA
______

Oh, it’s still alive!

From 2013, read the comments too:

https://www.youtube.com/watch?v=F-glHAzXi_M

(Language warning)

#91 Ronaldo on 12.19.19 at 12:34 pm

#81 RJ

Maybe you should read this.

——————————————————————
https://retirehappy.ca/is-it-really-possible-to-die-broke/

I once heard a story of a man who was so bent on saving and not spending that he would not allow his wife to spend anything. He totally controlled the money. When he died he wrote in his will that he wanted all of his money burried with him. His wife was the executor. She wrote a cheque for his entire worth and put it in his casket with him.

#92 Sail away on 12.19.19 at 12:36 pm

After all, you can’t spell “Bunch of entitled, self-interested succubuses, screwing others for our own benefit” without U S.

#93 Damifino on 12.19.19 at 12:38 pm

#87 Stan Brooks

…with inflation of necessities far outpacing the ‘official’ 2.2 % inflation, most likely with real cost of living increasing north of 8 %…
———————————–

Vancouver City Council agrees. They initially intended to bump taxes by 8.2% next year but after being visited by three ghosts they chose to express some humanity and dropped that to a mere 7%.

#94 The Totally Unbiased, Highly Intelligent, Rational Observer on 12.19.19 at 12:42 pm

So peachy.

The latest old news is that American President Donald J. Trump finally got nominated for some sort of Impeachment Award. This is a very rare accomplishment. Supposedly, he was one of only three presidents in all of American history to achieve this great distinction. Those voting for it had to be raised to an extreme level of jealousy by his upright conduct. In President Trump’s case, it took a lot of hard work and good deeds and integrity on his part to make this happen. It is like yet another feather in his MAGA cap. All good people everywhere can now be so very proud of him!

#95 Tony on 12.19.19 at 12:46 pm

Re: #88 IHCTD9 on 12.19.19 at 11:48 am

11/16/2019 Price change $29,000(-3.3%)

#96 JohnK on 12.19.19 at 12:47 pm

Cash of $175,000 plus enough to cover land transfer tax of $62,950 and $6,300 for insurance, then monthly payments of $7,500 (plus insurance and property taxes), requiring an income of a bit less than $270,000. And that would buy you an unrenovated bung in midtown.

Yes, Toronto is definitely expensive, but that’s a primo neighbourhood. Plus, for two high income young professionals (for example my wife and I), our combined after-tax income each month is around $19k. A $7,500 mortgage payment would be affordable.

Speaking from our experience, we do have a number of similar high income young professional friends living in Toronto. There doesn’t seem to be any shortage of us to be honest…Toronto attracts top talent, and we’re paid accordingly.

For those of you espousing a move to Halifax or Montreal, it just ain’t realistic. Aside from the fact that no other city in Canada can hold a flame to Toronto in terms of livability, cultural diversity, etc., similar high paying jobs just don’t exist in those places. Toronto is the economic engine driving Canada, and the jobs are here. This is the place to be.

#97 GBiddy on 12.19.19 at 12:50 pm

I built a garden shed in my backyard.

Plumbed it, wired it, insulated it, even has a nice loft and a private yard and deck. It’s secluded, surrounded by trees, and about 3 blocks from bus stops to the uni, downtown, airport and ferries. 244 square feet down, 200 up.

It would rent for an easy $1200/month in this in-demand location of one of Canadistan’s most expensive cities.

But I’d rather use it to store yard work tools than rent it out to a tenant who, the minute they set foot on my property, would have more rights than me.

Today’s tenants are likely to be using drugs, be reliant on some form of disability payment, or to be what are known as professional tenants who use every tool the government gives them to exploit the system and wreak havoc on landlords.

No thanks.

#98 Westcdn on 12.19.19 at 12:54 pm

My conversations with daughters…

Oh gals, I am not sending gifts this year. I am thinking money is better as I am clueless.

I would get presents if I think the person will like it.

If I cant find anything they get nothing

Haha, I am with Erika on that one.

#99 Shawn Allen on 12.19.19 at 12:55 pm

Impeached?

Decades ago I thought impeached meant removed from office.

With Clinton I learned it is a two step process and there can be white-house life after impeachment.

The word basically means “charged”.

pppftt. Trump will jump on that meaning if he has not already. Charged and acquitted. Trump and his party will say falsely charged and then acquitted.

Watch for a Senate motion saying the impeachment charge was never warranted.

I fear he may get elected again.

#100 IHCTD9 on 12.19.19 at 12:56 pm

#83 Keith in Rio on 12.19.19 at 10:11 am

… With $700-2000 condo fees, is it any real surprise.
___

Is that even real?

What kind of person willing signs on for a perpetuity of 4 figure condo fees on top of the mortgage!?

I maintain 4 acres and a house as old as Canada for a fraction of that!

#101 James on 12.19.19 at 1:11 pm

#83 Keith in Rio on 12.19.19 at 10:11 am

LOL @ that listing. It’s 3AM and I’ve gotta go #2 bad. What does one do when it’s -20 and snowing eh ?
Nursing a sunburn after getting drunk at the beach a couple of days ago with my soccer buds. Wife and I are looking for a second property here. So far the contenders are 800′ with 2 bedrooms 2 bathrooms 2 blocks from the beach for about $125K CAD. Probably $1MM in YVR for same thing.
Meanwhile in YYC our condo we rent is now down 35% and from our anecdotal market viewpoint, nothing is selling at even close to asking. Lots of high end luxury units in Eau Claire that were $500-800K are now $300-500K and have been listed forever. With $700-2000 condo fees, is it any real surprise.
Question for you Garth……what happens to a building with condo fees so high that prices have dropped to ghetto levels, and marketability is lost ? I know there are some of those in TO as I have read about them online.
Merry Christmas and Happy New Year to all !!!
_________________________________________

Some of those in TO? Quite a lot in the entire GTA! The western wastelands of Mississauga for example has a ton of glass windowed towers that have massive hidden problems only to manifest themselves in the years to come. Glass windows, balcony railings popping out, poor insulation quality, leaks from poor sealing to due to the designers infatuation with ceiling to floor glass windows. Not to mention that insurance companies have caught on to these inherent problems and this is why some companies are exiting the high-rise condo market for policies. Have your rates gone up lately? Just wait a few years people will not be able to unload these investments with high condo fees and astronomical insurance policy rates. That is the simple nature of urban dwellers in high-rises you can not control anything. So your rates just keep going uppa, uppa, uppa. Cheers!

#102 Shirl Clarts on 12.19.19 at 1:41 pm

#69 Don Guillermo on 12.19.19 at 12:19 am
#40 Shirl Clarts on 12.18.19 at 7:13 pm
#21 Don Guillermo on 12.18.19 at 5:55 pm
^^^^^^^^^^^^^
If you are referring to the 2015 election, the one where the Liberals eviscerated the Cons to take a Majority, then yes. Otherwise quit your whining.
******************************************
Kind of funny what you think whining is … but anyways I don’t care. Your ” because it’s 2015 ” sunny boy Skippy promised you something he can never deliver (you may figure it out someday but I doubt it). Anyways, it has no impact on me so enjoy your life digging out of the mess.

^^^^^^^
Never said I voted Liberal in either election. In fact, I voted Conservative. The issue I have with your views is a macro one. You seem to enjoy spouting off ALL Canadians voted Liberal (or left), when that was simply not the case in 2019 at all. Both Governing and opposition parties took in a third of the votes, yet you say “Canadians will get what they deserve”.

For the record, I too am disappointed with the Liberal outcome. But clearly you missed the point I was trying to make, and it wasn’t even that difficult to understand.

Some advice? Avoid political discussions at your next dinner party since you are incapable of a healthy debate. You’re not ready.

#103 Ronaldo on 12.19.19 at 1:50 pm

#99 Shawn Allen

I fear he may get elected again.
—————————————————————–
I didn’t think you would scare so easily. You seemed much more fearless. Yes, there is a very high probability that he will get elected again. The voters will decide just as they did here in this fine country. I didn’t like the results but that’s the system we live under. What is the alternative?

#104 IHCTD9 on 12.19.19 at 2:10 pm

#96 JohnK on 12.19.19 at 12:47 pm

For those of you espousing a move to Halifax or Montreal, it just ain’t realistic…

____

I don’t think I’ve ever seen anyone claim that D.I.N.K. couples that crank in 300+K/yr should exit Toronto. These couples are among the very few that can win living in Toronto – they actually make what they should for the costs involved.

I’m thinking it’s more of those down around the Toronto median household income (less than 1/3rd of what your household makes) that are regularly advised to grab a calculator.

No shortage of these folks either – in fact, they are definitely the vast majority out there in GTA land.

#105 Kalkin on 12.19.19 at 2:14 pm

#84 Sail Away on 12.19.19 at 10:49 am

I often rent vacation homes in different countries for a month or more at a time

——————————————-

Can you tell me how you find these rental homes to rent for only a couple of months (and not the whole year)? Is there a website or some other way? Different websites in different countries, etc?

Thanks!

#106 ALL CAPITAL LETTERS AND RUN-ON SENTENCES on 12.19.19 at 2:33 pm

Turn that shed into a restaurant! This bloke turned a small garden shed in London into the #1 rated in dining spot in the city without serving a single meal. Oh yeah, he too, also lived in it:
https://www.youtube.com/watch?v=bqPARIKHbN8

Maybe that’s what helped Gail turn her desperation into her inspiration!

#107 Your buddy on 12.19.19 at 3:03 pm

#104 IHCTD9 on 12.19.19 at 2:10 pm
#96 JohnK on 12.19.19 at 12:47 pm

“I don’t think I’ve ever seen anyone claim that D.I.N.K. couples that crank in 300+K/yr should exit Toronto. These couples are among the very few that can win living in Toronto – they actually make what they should for the costs involved.

I’m thinking it’s more of those down around the Toronto median household income (less than 1/3rd of what your household makes) that are regularly advised to grab a calculator.

No shortage of these folks either – in fact, they are definitely the vast majority out there in GTA land.”

Your Toronto bashing is truly comical. Like you would know how the vast majority in GTA are living, living as you do in the hinterland. Anyone who bought in the GTA in the past 20 years has made a killing in real estate. In the past year, three boomer buddies of mine have cashed out in the GTA and pocketed way north of a million on their principal residences and have bought elsewhere in the province. I know immigrants in their 80s living in parts of downtown Toronto that will leave homes in their estates worth north of $2 million to their lucky descendants. My better half is going to come into that amount in the next couple of years. And we are already millionaires…

#108 Sail Away on 12.19.19 at 3:28 pm

#105 Kalkin on 12.19.19 at 2:14 pm
#84 Sail Away on 12.19.19 at 10:49 am

I often rent vacation homes in different countries for a month or more at a time

——————————————-

Can you tell me how you find these rental homes to rent for only a couple of months (and not the whole year)? Is there a website or some other way? Different websites in different countries, etc?

Thanks!

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Lots of different ways, and very rarely through services. Rotarians are big travelers, so they are a great resource since many of them do the same long-term rentals, especially in south/central America. Then if you have friends in the area, they often will help out. In Cusco, Peru, our trekking guide has an unofficial rental we’ve returned to a few times and similarly in the Galapagos.

For new places we visit and stay in motels or AirBNB for a week to get a sense of the place.

#109 45north on 12.19.19 at 3:33 pm

sail away: Renting this shed could be a horrible move for Gail:
Hypothetically, one of our blogdogs, could move in, pay rent for 3 months, then stop paying and refuse to ever leave, while also suing for plumbing and bathroom fixtures. They’d probably get another good settlement and a nearly free garden shed residence.

as I’ve said, the idea of owning a property to rent out is not attractive. In Ontario, the Residential Tenancy Law governs the relationship between property owner and tenant.

GBiddy: But I’d rather use it to store yard work tools than rent it out to a tenant who, the minute he sets foot on my property, would have more rights than me.

there are people, who say they are concerned about the lack of rental accommodation and propose ways to improve the situation. You can have laws that favour the owner or laws that favour the tenant. Funny thing is that laws that favour the tenant, disadvantage the tenants when taken as a whole.

#110 Linda on 12.19.19 at 4:28 pm

#30 ‘Joseph’ – I have heard of Yuppies. I wasn’t sure if Young, Highly Paid Professionals (YHPP) were the same creature. I was under the impression that the Yuppies of old wanted to be highly paid, but possibly were earning far less than what they thought they would. All flash but not a lot of cash, as it were.

Still wondering how many of them are out there looking to buy a property, regardless of acronym. Also wondering in any of them have the cash to buy or will simply add to the debt load they may already have.

#111 Keith in Rio on 12.19.19 at 4:54 pm

IHCTD9

Go to realtor.ca and look at 500 Eau Claire Ave SW……..here in YYC. I can give you several other addresses as well.

#112 Keith in Rio on 12.19.19 at 5:03 pm

Sail Away

We rent in YYC.

We own a condo in Copacabana here in Rio and are looking for another property now.

Why ?

Dirt cheap cost of living, really inexpensive RE as long as you don’t want a 5,000′ beachfront two story penthouse, it’s hot all the time, the banking system is secure, worldwide airline connections are great from GIG, reasonable taxes, easy to “buy your way” around situations if you really need to, and absolutely wonderful people.

#113 Sail away on 12.19.19 at 5:39 pm

#112 Keith in Rio on 12.19.19 at 5:03 pm

Sail Away
We rent in YYC.
We own a condo in Copacabana here in Rio and are looking for another property now.
Why ?

Dirt cheap cost of living, really inexpensive RE as long as you don’t want a 5,000′ beachfront two story penthouse, it’s hot all the time, the banking system is secure, worldwide airline connections are great from GIG, reasonable taxes, easy to “buy your way” around situations if you really need to, and absolutely wonderful people.

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All good reasons to visit and vacation, but what is the business case for investing in foreign real estate? Are you expecting or have you experienced appreciation on your current place?