Let’s talk rent.
First, all those house-lusty, first-timer, newbie moister buyers out there should understand the days of fist-over-fist price appreciation on entry-level homes (we’re talking condos here) are done. Kaput. Stick a fork in it. There were lots of reasons not to buy before Covid came to town. Now there are reasons to bail.
Advice: only buy a condo if the total of: the financing charges + monthly condo fees + property taxes + insurance + the opportunity cost of the downpament are less than rent for the same unit. The odds of this happening in most markets (Calgary may be the exception) are about zero.
Why?
Simple. Capital appreciation can no longer be considered a certainty. So without annual hikes in the value of your unit, why pay more every month to live there as an owner, rather than a tenant? Especially when real estate costs a ton extra to buy and sell thanks to land transfer tax, legals and realtor commission.
Besides, a one-bedder in a concrete urban tower isn’t going to be anyone’s F House. Almost nobody moves into their forever home off the bat, which means you want liquidity when climbing the property ladder. Only buy what you can sell easily – and for enough profit to make all those extra ownership costs worthwhile. One lasting impact of the pandemic will be to render condos in the biggest, tallest, coolest buildings sinkholes of value.
By the way, renters are starting to rock in Toronto. Lease rates are falling. Selection is rising. Competition is going away. Thanks, pandemic!
The rental market in the country’s biggest city is changing by the day. Freaking-out Airbnbers are (as predicted) dumping their empty units onto the market since the travel/visitor sector is dead. Many of these are ‘professional hosts’ with multiple units and mega-financing. They can’t afford to carry empty condos, and so are (a) listing or (b) renting in a hurry.
Meanwhile (again thanks to the virus) the number of new renters is shrinking along with incomes, job opportunities and the population in downtown office towers. So while the number of rental units has jumped by 25% recently, showings and new leases have collapsed. Rents have started to fall – down about 4% in a month, with more to come.
So, yes, the bootie is on the other foot now. Amateur landlords are under financial pressure and more willing to lease or sell at a competitive price. Given the fact half of all city condos were bought by speculators and small-time investors, expect a lot more pressure to come as the vacation rental market disintegrates. First-time condo buyers today must have a powerful reason to proceed. I have no idea what that might be.
Now, how about the big guys? The real estate investment trusts owning thousands of rental units? There’s been a lot of talk here lately about rent strikes, deadbeat tenants, massive job loss, financial distress and the fact renters can cease making payments but can’t be evicted, as the virus has shut government agencies and the courts. So, surely, residential REITs must be clobbered? In fact, the depressed price of trusts on the market today suggests this is the prevailing meme.
Crap, says CAPREIT, one of the largest apartment-owning trusts in Canada, with a whopping 56,800 suites and townhouses in its $800-million property portfolio. This week management issued this statement:
“Looking ahead, we strongly believe our business, and the multi-family real estate sector in general, remains a highly defensive and counter-cyclical asset class that can bear the broad market swings we are experiencing. With the strongest balance sheet and financial position in our twenty-two-year history, we have the resources to weather this storm.”
Just corporate bafflegab to drive the unit price higher? Of course, but look at this: CAPREIT collected 98% of all the rents owing to it from tenants in April. The number of renters on deferred payments equals less than one per cent. Occupancy is sitting at 98.2% of its units, and the trust is actively marketing the vacant ones, striving for 100%.
And this REIT, like the others, is benefiting mightily from the collapse in interest rates. The overall loan-to-value ratio is just 35%. The trust has about $150 million in cash. The average 10-year rate on its mortgages is 2.01%, and it just locked up another $45 million in mortgage financing at 1.59%. Given inflation, that’s basically free money.
But look what Mr. Market has done: CAPREIT was trading at about $60 when the virus swept into our lives, then dropped by 30%. It’s now recovered some of the loss and sits around $47. Lots of volatility, despite a business that continues to throw off big cash flow, where tenants are being responsible and crashed interest rates are filling the coffers. Oh yeah, and it pays investors income. (This is not a recommendation.)
Amateur landlord? Fuggedaboutit. Condo owner? Hope you like losses. REIT investor? Smart. Renter? Sweet. Renter with REITs? Genius.
176 comments ↓
Happy rent day everyone… another month more landlords stiffed on rent.
The boomers are finished.
I wouldn’t be surprised if people renting out places in the future charge yearly rent, instead of monthly rent.
Best investment, military style assault weapons, they will be sold for pennies on the dollar now, sell them back to T2 at full book value.
I can only guess what boy wonder is going to say about the next mass shooting that happens with illegally smuggled guns from the USA.
Nothing about life sentences for committing crimes with guns, immediate deportation for any non citizen for gun crimes, penalizing the law abiding again because doing the right thing takes effort.
Elect a clown expect a circus!
I think if you are selective then some REITS with good balance sheets are good investments. Also it is important to evaluate the assets of the REITS. I am surprised that the level of non payment of rent is so low because the longer this goes on, the smarter renters will get, when they realize they cannot be evicted for some time with little repercussions on their credit rating if the numbers approach US renters non payment for April of 31%. I definitely would not be buying a condo right now for anything over the opportunity cost of renting a similar place.
Trudeau’s Government is obviously full of forward thinking geniuses, all the criminals and psychopaths have two years to turn their weapons in also.
Hopefully they will also buy the stolen weapons back at a fair market value.
Cutting edge stuff.
Inspiring!!!!
“Let’s talk rent” ?
How about, let’s talk about my payout, Garth!
$130,000 is not that much for a guy like you. But you still haven’t paid up – how come?
Tell you what…..
I’m willing to accept instead 100 – 12 pacs of Charmin, plus 50 cases of hand sanitizer 10 pacs.
Deal or no deal?
This offer expires at midnight, Lunenburg time.
The clock is ticking……
How does a residential REIT with such low leverage and high occupancy pay such a low distribution? What’s the cap rate? Where’s the money go?
(Yawn) this will all be over soon folks – government will end up continuing to print stimulus and bailing out the unemployed. Landlords will get paid, and we’ll all eventually pay for it with higher taxes. World will continue. Condos will continue to be desireable and recover any minor short-term dips in paper value. Moving on..
Garth,
What advice would you give to someone who lives in a place where rentals are very scarce, like Canmore, AB ? In such a place, I see no other choice but to buy.
OMG the pain in Alberta will be epic.
“Renter with REITs? Genius.”
++++
I’m a genius…… .
A crass, crude, smelly ….genius…..
#5 Tim123 on 05.01.20 at 3:20 pm
I think if you are selective then some REITS with good balance sheets are good investments. Also it is important to evaluate the assets of the REITS. I am surprised that the level of non payment of rent is so low because the longer this goes on, the smarter renters will get, when they realize they cannot be evicted for some time with little repercussions on their credit rating if the numbers approach US renters non payment for April of 31%. I definitely would not be buying a condo right now for anything over the opportunity cost of renting a similar place.
………………………………………………..
Buy CONDO lose your shirt!
I wouldn’t even rent one of those high rise petri dishes. The elevator rides alone are disgusting yuk. Cough, cough, sniff, sniff achoo, want a hug?
Sorry but don’t want to be a virus culture in a concrete coffin. Take my chances out in the sun and fresh air.
“Amateur landlord? Fuggedaboutit. Condo owner? Hope you like losses. REIT investor? Smart. Renter? Sweet. Renter with REITs? Genius.”
You’ve said it before Garth – so true.
Thanks as always!
YVR – thinking of buying a condo?
https://mlacanada.com/newsfeed/understanding-strata-fees
“In general, strata fees in Metro Vancouver range from approximately $0.20/square foot, up to around $0.60/square foot, with $0.37 being the average. The higher end is typical for buildings with ‘wet’ amenities such as pools, hot tubs, water features and other luxurious expenses like 24-hour concierge service.”
https://www.ratehub.ca/condo-fees
“Most buyers do not realize that their condo fees can go up at any time and by any amount. Condo fees are controlled by the condo board and can be changed at their discretion. “
If your condo fees (especially in YVR) sound too good to be true, beware.
YVR condos stratas are notorious for charging ‘special assessments’ which can easily go as high as $100,000. per unit if the building suffers building envelope failure, unexpected catastrophic flooding (hello plumbing!), etc.
Hey, no big deal right – we’re all multi millionaires here on the west coast!
You can bet that banks and insurance companies are paying a lot more attention to the ‘financial health” of condo buildings in BC these days.
Tony Gioventu, executive director of the Condominium Home Owners’ Association of B.C. (CHOA), “There is less competition and much higher demand on the insurance. The risks are being very closely monitored. Because there are fewer insurers taking on a greater load of the risk, they’re being very picky about who they’re insuring, and at what value. Compound all that together, and you can hear the cash registers ringing in the background.”
This was written before covid19 became a serious part of everyones’ life.
https://www.vancouverisawesome.com/real-estate/condo-owners-huge-bills-massive-strata-insurance-rate-hikes-bc-2095427
Greater Fool has become bipolar like the country. Up one day down the next.
Optimistic about the faux stock market, back’stopped only by vacous federal vapour capital furiously pumping nitrous oxide fumes through the national ventilator. The game … keep the comatose economic patient warm enough until the covid coup-de’gras later this summer. By then with food riots, rent strikes, and a mothballed hospital system we can celebrate a new peak in the “shock market” enough to cheer as the hoi polloi portfolio’s are once again saved, if not further enriched. Bloor Street, expect to get your burn notices by the pitch fork crowd. The great unwashed will use your hyper inflated stock certificates as fire starter.
I’m bringing popcorn.
Just a hunch, but you might be in the wrong blog. Only happy people here. – Garth
#6 THIS IS A STICKUP on 05.01.20 at 3:30 pm
Trudeau’s Government is obviously full of forward thinking geniuses, all the criminals and psychopaths have two years to turn their weapons in also.
Hopefully they will also buy the stolen weapons back at a fair market value.
Cutting edge stuff.
Inspiring!!!!
…………………………..
It is not about gun control. It is about virtue signalling and pandering to the frightened.
May 1st, 2020, the day freedom died in Canada. The gun ban is much worse than I expected; I underestimated them. All the tools of freedom banned by a guy who “admires” China’s dictatorship.
I’ve never been so ashamed to be a Canadian, nor so ashamed of my two decades of military service. This isn’t the country it was, that’s for sure.
USA here I come.
How is an assault rifle in the hands of a civilian a ‘tool of freedom’? – Garth
Tenants keep your rent.
Landlords keep your distance.
http://parkdaleorganize.ca/
But Garth, can they collect August rent? Or March 2021 rent?
Lot of maple in that portfolio.
How is an assault rifle in the hands of a civilian a ‘tool of freedom’? – Garth
…………………………
Assault rifles have been prohibited in Canada since the ‘70s. The only way to get one is to smuggle one in from outside. You don’t even know what an assault rifle is.
Actually I do. But the question was to another poster. So buzz off. – Garth
Stock tip: Buy shares in Rona and Home Depot…pvc tubes and posthole diggers will be flying off the shelves for weapons caches. Just remember the right fence post you buried it under. Why do Canadians put oil on their lawns? To keep their guns from rusting.
How is an assault rifle in the hands of a civilian a ‘tool of freedom’? – Garth
Obviously, you don’t know what freedom is.
Guess not. Explain it. – Garth
#17 Keep Your Rent
Tenants keep your rent. Landlords keep your distance.
—————————-
Even if the furnace quits? Pipe bursts? Roof leaks? Window breaks? Washer quits? Ants invade? Kid flushes a baseball down the toilet?
Guns don’t kill people, people kill people.
We should banish cars also, lots of people die or are maimed in them.
Trudeau should also ban alcohol it’s at core of hundreds of thousands of accidents, deaths, rapes, child abuse, spouse abuse, car accidents…
That’s never going to happen with that cash cow.
The criminals and nut jobs aren’t going to forfeit weapons.
How the hell can people apply consequences to an object?
Not logical
Bought CAR.UN a few years ago, dividend portion of the portfolio. It was low yield, less than 3% as I recall, but so solid on the balance sheet and super low payout ratio. It turned into a good thing, can’t complain.
Picking stocks is foolish, I know, but rewarding when you do your homework and don’t get greedy.
Garth, I was introduced to this blog only recently by a mentor of mine. Grateful to him. Mandatory suck up – wife loves dog and won’t hesitate to swap me for one. I am indifferent when it comes to dogs.
Question about condo ownership. I am in my early 30s and was a first time buyer last year this time. Got a 2 br+den, 2 washroom condo in mississauga for 420k. Not one of the new tin boxes though. This is an old building meaning, huge living space and high maintenance costs. I had done the affordability vs rent vs own comparison and the numbers seemed to make sense to buy a condo at the time. Home is not my only asset. Between wife and I, we save at minimum 40% of our household income. The virus has pushed up that number to 43% since we diverted the commute and gas savings to diversified investments. Both our workplaces have indicated that the work from home is potentially the new normal with occasional visits to office downtown Toronto.
Given the current trends and scenario, is it advisable to sell my condo and look for a home with dirt on the backyard say up north? I don’t mind waiting out on the condo ownership but am skeptical of the asset increasing much while losing out on a potential good rate on a detached home. Musings of a confused mind from reading your blog. :)
Why not buy XRE.
$14.61/unit, around the same price as a 24 toilet paper. 6.5% distribution yield. Active since 2002.
P/E of only 6.5.
in fact, CAPREIT makes up over 15% of its portfolio.
So MPs are going to summon that Canadian Doctor, Bruce Aylward who forgot that Taiwan exists and wants to go to China to be treated for the Chinese Virus.
Did you see?
Another dog and pony show attempt. He doesn’t even have to show up.
Humans not able to touch humans? If you’re young STDs are still your #1 concern, not Covid-19. Chinese Virus wants nothing from you.
So, today’s “touch” song is for the young.
https://www.youtube.com/watch?v=a3ir9HC9vYg
Touch me
How can it be
Believe me
The sun always shines on TV
Hold me
Close to your heart
Touch me
And give all your love to me
To me
Here are Moody Analytics’ forecasts on the effect of the COVID-19 pandemic on Canadian real estate values:
https://betterdwelling.com/canadian-real-estate-prices-could-drop-up-to-30-moodys-advises-institutions/
Interested to see what happens to all these unlivable 300 sq ft airbnb bachelor units.
Hey Garth thanks again!
How we got side track by stupid gun people
Anyway Garth yep you don’t know what freedom means ha ha here let me explain what freedom means ….
After all we could be living in Michigan were they storm the Capital building with guns. And has a president that supports arm protestors?
Really?
Holly molly Batman glad I am free and strong in Canada without a gun.
Oh by the way New Zealand is virus free, now why could Canada not do the same thing?
And news flash most of the virus cases came from the states to Canada so keep the borders closed to Yankees.
Beside why come to Canada we are not free. Duh
We have igloos and maple sugar and beavers and a few moose. Oh yes let’s build that ice wall and keep them out and trump can pay.
Gosh I am laughing so hard my sides hurt
Happy freedom day Garth!
Don’t shoot your self in the foot ha ha ha ha ha
22 Rick on 05.01.20 at 4:25 pm
Obviously, you don’t know what freedom is.
It sounds like freedom is the state of being ruled enough by your fear or lust for destruction that you feel like you need a security blanket. I mean assault rifle.
#2 Screwed Canadian Millenial
The boomers are finished.
Wait till the young fully realize they are invincible to the Chinese Virus. Already look at all the joggers, bikers, walkers. The low risk groups are out there. I cannot wait to see what this sunny 20C weekend will look like out there. Even parks protected by guns won’t stop the young saying “I’m going out!”
Older folks, you need to realize you’re more at risk. If you are of age and at risk due to pre existing conditions, you need to keep yourself safe and out of harms way. You need to self isolate.
Where’s Smoking Man?
For those who keep mindlessly repeating the the Corona Virus is just like the flu – here are some good visuals:
https://www.cnn.com/2020/05/01/health/flu-vs-coronavirus-deaths/index.html
I know what my ex fishing captain/paratrooper/sniper would say about “lil potato’s” latest gambit to make life safe for all the believers. And he was an expert: having shot many a German, odd Italian, a few overzealous English officers & a Vichy Frenchwoman. “If wishes were h-o-r-s-e-s: beggars would ride.”
The occasional elevator use is ok , but using one 6 times a day is squares-ville . Even in the best of times sharing an elevator with 6 other people is a drag, now that Covid has moved in…….
March 12, 2020 – Canada will welcome 341,000 new permanent residents in 2020, 351,000 in 2021, and 361,000 in 2022.
Base line population at 36,000,000
Deaths per 1000 at 8.8
Births per 1000 at 10.2
Net 1.4
Population native growth 50,400 + immigration = ~400,000 per year = 1% population
Is my math wrong?
Conclusion
Specuvestors been buying like that rate is something way higher!
Cuando Condo
Sources
https://www.canada.ca/en/immigration-refugees-citizenship/news/notices/supplementary-immigration-levels-2020.html
https://www.indexmundi.com/canada/demographics_profile.html
https://www.youtube.com/watch?v=128LI6_4L-s
You forgot the 62,000 people who leave Canada yearly. – Garth
I’m a renter with REITs! Just turned in the keys to my 2 bed, 2 bath condo that I rented for the last 8.5 years in YYC yesterday!
In 2011, I paid $1859 a month in rent. It slowly went down to $1645 by the time I left. The unit was worth $450K and condo fees were $250 a month in 2011. Now it’s worth $290K and condo fees are $500 a month.
Never been happier to be a renter! Can’t imagine trying to unload that thing now. Peace of mind is priceless. Best decision ever :)
@#34 You know who:
Maybe you are correct about young people being less susceptible. What is clear is that statistics about the CCP virus are not clear. Death rates, infection rates, mutation rates, there is some pattern which at present is unclear.
It is wise to assume that said virus could be deadly. I don’t assume that because Im in my 40s and immersed in vitamin C and D3 and blood type O and fit with no comorbidities that I wont have a cytokine storm or who knows. A patient I know of who didn’t get an H1N1 shot recently had his legs amputated, at the knee, consequences of ECMO. Sure, H1N1 is not Covid19 however this example is used to show that viruses can be unpredictable. Caution is needed, not panic. Although I have vitamins on board and herbs and am healthy I still social distance, hand wash, and wear a mask.
I remember arguing with physicians I work with and nurses that CCP virus is NOT “just the flu” back in February. I couldn’t understand at that time why Canada wasn’t shut down completely.
Now what is important is to protect the herd, because for right now a vaccine is a way off.
Thinking anyone is invincible is very foolish behavior. It is tempting to find someone sick, and go give them a hug, however Im not interested in possibly uncovering a cytokine storm response. Unfortunately humans don’t make vitamin C or have a wall of interferon and adaptive immune response like bats do and CRISPR hasn’t yet made that possible.
#171 Stoph on 05.01.20 at 12:05 am
#116 Keep Your Rent on 04.30.20 at 8:07 pm
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One more reason not to become a landlord. People not paying rent will only make the housing situation worse as investors decide not to buy units to rent out.
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That’s a pretty naive comment. It’s all about demand and supply. At this point, people want out of landlording. They will all look to flush their real estate and prices will go down. At a certain point, some people will consider the price appropriate and buy those properties and become landlords.
You do realize it’s a continuous cycle, right? Look at 2008-9. You think everyone stopped landlording after that? Of course not. It actually got worse.
It became Airbnb.
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So by tenants not paying rent, will this increase/decrease supply/demand of units for rent or be inconsequential?
Of course there are other and even larger factors at play.
T2 has been using the words assault rifle to inspire fear and help garner support…
But now he uses the wording assault style rifles… so he could go from banning something that is already banned in Canada to being confusing. …Maybe he just wants to ban anything that looks like it might be used by some army somewhere.
And as the ban took effect today…. no one is going to be buying them for pennies on the dollar.
-Capitalism can be Reformed-
It appears there may be a decent short term spike in the economy followed by a period of deep deflation. If so the question must then be asked:
How long can the world debt market sustain a period of severe deflation?
The answer to that is not long. Two years max?
The greater the severity the greater the potential for massive defaults (banking, corporate, sovereign) resulting in a loss of control over interest rates (i.e. a total collapse of the global economy).
What to do? What’s left to stimulate inflation?
Remember: We need a sustainable model* to keep the current debt based inflationary system afloat. Will they again seize gold and devalue the dollar “overnight” by 30, 40 or 50 percent? Would that then lead to hyperinflation (a total loss of faith in the dollar) or is a war cooked into the books?
*The only other stimulus (and best) would require a technological revolution transcending many industries and markets globally. Is that possible? Yes, however this would only delay the inevitable (and final) GFC3 without reforms.
Note: Is the current ever increasing debt based economic system (debt based currency) requiring ever increasing growth sustainable? (It’s now impossible for the Fed to meaningfully unwind its balance sheet)
Further, how does this model fit in with the green shift to saving the environment? (significant increases in efficiency through technology will be required across every aspect of productivity.)
We need monetary reform and we need debt reform (jubilee system?)
Finally, we should now understand that continuous inflation is no friend of the middle class. Only that of the banker class and so called c-suiters. They have been gaining far, far greater than they have been losing…
Who do you believe?
Trump when he says Covid-19 is a lab escape from Wuhan WIV.
Or…
WHO when they say it’s natural in origin?
Garth. Thank you for the post, particularly appropriate at this time when Millenial minds are using all their firepower to ponder serious real estate wants and needs.
Serious question for you.
Have you considered purchasing a condominium on Queen street west and why not?
Too many hipsters. – Garth
RE #4 Fused on 05.01.20 at 3:20 pm
1) Why would anyone sell their guns at pennies on the dollar, when they can get the buy back amount, from the government? Are you saying gun owners are stupid?
2) Are you talking about minimum sentencing? Let’s take power away from judges, cause who needs them right? No thanks
3) This clown you speak off would win a strong majority if an election was held today. Perhaps someone else is the clown.
What about when rent is $2500 for a decent one bedroom apartment?
Do the math. – Garth
@John #24
Guns don’t kill people, people kill people.
So lets get guns out of the hands of people to make it harder
We should banish cars also, lots of people die or are maimed in them.
THank you! best argument ever for gun control. Lets see, you want mandatory (graduating) licensing (with tests), fingerprinting, mandatory annual insurance, mandatory registration, being able to hold the idnustry accountable to safety standards, the ability to recall devices considered dangerous. the ability for police to question you anytime you operate it including asking for proof of insurance, registration and ownership, mandatory re-testing once you get to a certain age and documented, proven, safety improvements every year…for guns? Yes, please. That would be a start, wouldn’t it?
Little FYI on what WIV – Wuhan Institute of Virology has been up to last few years…
“ In 2015, an international team including two scientists from the Institute published successful research on whether a bat coronavirus could be made to infect HeLa. The team engineered a hybrid virus, combining a bat coronavirus with a SARS virus that had been adapted to grow in mice and mimic human disease. The hybrid virus was able to infect human cells.”
Interesting read.
https://www.nature.com/news/engineered-bat-virus-stirs-debate-over-risky-research-1.18787
Disingenuous. Read the editor’s note. – Garth
I always thought REITS succeeded because they used leverage, the appreciation of assets over time and favourable tax treatment of cash distribution to improve their balance sheet .
If the value of their assets and the revenue being generated by these assets declines over the next six months it should impact their balance sheet and their value to investors. Seems like a possible double whammy to me in the short term. Am I wrong?
Is there a point where the debt to equity ratio of a residential REIT becomes a concern to investors?
You don’t mention that these evil REITs are driving up rental prices, by consolidating properties among a handful of huge companies so renters get screwed.
The opposite. – Garth
You forgot the 62,000 people who leave Canada yearly. – Garth
I didn’t. The specuvestors did. Plus they also did not calculate the fact that the birth/death rate is on the cusp of flipping meaning native net negative. Also, I believe that 62,000 number is much higher. Almost all the immigrants I talk to say they are heading “home” … !!
The specuvestors will have to lean into airbnb et al … and that’s it for them!
#49 -=withwings=- on 05.01.20 at 5:38 pm
@John #24
Guns don’t kill people, people kill people.
So lets get guns out of the hands of people to make it harder
We should banish cars also, lots of people die or are maimed in them.
THank you! best argument ever for gun control. Lets see, you want mandatory (graduating) licensing (with tests), fingerprinting, mandatory annual insurance, mandatory registration, being able to hold the idnustry accountable to safety standards, the ability to recall devices considered dangerous. the ability for police to question you anytime you operate it including asking for proof of insurance, registration and ownership, mandatory re-testing once you get to a certain age and documented, proven, safety improvements every year…for guns? Yes, please. That would be a start, wouldn’t it?
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Fill up the the tank of your 4×4 pickup truck. Mow down people on a busy sidewalk or a park or a school yard. Much easier to obtain a vehicle than a assault rifle. And you could kill more people with a vehicle than you could with a assault rifle….It is a mental health issue, not a gun issue.
Trudeau currently has a minority government!
He used the Canadian version of an Executive Order (Order in Council) to circumvent the legislative process and declare it law.
PURE TYRANNY
Also, this order is effective immediately. Hundreds of thousands of Canadians are living their first day as a criminal right now. They have 2 years to comply befor the RCMP are instructed to enforce the order.
Is the pandemic still even a thing? Hard to tell listening to this government.
Restricted and prohibited weapons have been regulated for decades just like cocaine and heroin.
Sorry, but there’s a market for everything. Government can’t fix this.
Where did we go wrong?
The failed long gun Registry required over 1 billion dollars to fail miserably. Nowhere near 50 percent registration.
A decade later it will only cost “hundreds of millions” to buy back hundreds of thousands of rifles and transfer them both physically and legally from the populace to the RCMP.
But I guess what’s a few more billion on top of the 300 billion or so they are ejaculating for Covid 19.
Just throw it on the tab!
“How is an assault rifle in the hands of a civilian a ‘tool of freedom’? – Garth”
“Obviously, you don’t know what freedom is.”
“Guess not. Explain it. – Garth”
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This has nothing to do with freedoms, or the loss of it.
This “assault rifle ban” is so the gov. can be seen as taking action by fulfilling an election promise, but there is a problem with this.
These banned rifles function, in the exact same manner as the hunting rifle my father had when I was a kid. A semi automatic 308 Winchester with a blued barrel and a polished wood stock, 5 round capacity.
So why were these guns, not banned also?
Because they are not black in color and thus not deemed as evil by the uneducated masses.
The real problem I have with T2 doing this action, is the misallocation of funds (billion + in buy backs?) that should be spent, keeping the endless supply of illegal american firearms from entering our country. The other thing that should be happening is minimum sentences for getting caught with a loaded pistol in your vehicle.
Put em in a cage and through the key away for at least five years, on the first offence.
I do have my restricted / PAL but sold my semi auto pistol cause I could see the revised gun policy coming, a mile away….Still got some scary black rifles, but none are on the list.
Life goes on…
Re:CAPREIT property portfolio, $800-million / 56800 = $14085. Is this really the actual average cost to build this housing?
#31 Darth Dog on 05.01.20 at 4:42 pm
Interested to see what happens to all these unlivable 300 sq ft airbnb bachelor units.
————————————————————————————————
The Government will step in and use them for Homeless,
Immigration, Spousal abuse centre, been going on for years.
Once Canadians catch on to the fact that they don’t need to pay rent for a year they won’t be paying rent.
They will collect their CERB and EI. In some cases both payments.
When you have $60,000 in student debt and no job prospects the CRA can come after you all they want.
Sorry folks it’s party time and you can all go to hell.
Canadians are nice but not necessarily good.
They understand social justice but they don’t give a damn about morality. That is why you get so many false allegations in family court. It happens for a reason.
Socialism has a dark side. Now you get to see what it is all about.
I was in to the housing market right after GFC(2008) when people scared, and It was near end of April 2017, I have decided to go out and switch to renting when people have gone nuts buying even shacks over a mil. One of the best decision, I have ever made !
Happy renting all ! I’m not looking back…
Oil, which accounts for just under ten per cent of the national GDP
Cannot keep Canada hostage. Close the damp called Alberta , disperse rednecks to the rest of the country and train them to be IT specialists. Ooops must be able to count to more than one….
It is moral that oil riggers earn double than starting doctor…
“Renter with REITs? Genius.”
Especially if you are young. Young people should think job mobility and also be aware that whatever it is you own now you will be selling in a few years if you get married and have kids, with all the associated transaction costs. That is unless you have enough money to keep it as a rental. But that would be stupid. Nobody needs that hassle. REITs are the natural landlords as they have dealt with all the things before and know how to keep a large apartment building running smoothly. Rents paid and all. Sure you can “KeepYourRent” for now but that decision will have unpleasant long term consequences. Don’t mess with “the man”.
Our new Renaissance man (or woman) gets a degree in STEM or a trade, stays single, and stays mobile so he can follow either the sun or the jobs when he (or she) graduates. That means renting. No long term entanglements until you are 30 and can see which way things are going.
Renting anything is usury and is against divine law.
Better find a way of selling cheap land and cheap homes and forget about real estate as an investment.
#3 mj on 05.01.20 at 3:18 pm
I wouldn’t be surprised if people renting out places in the future charge yearly rent, instead of monthly rent.
———————-
Or huge deposits. A “tenant background” database is probably also in the works. References and credit checks. Either way renting is bound to become more difficult as landlords prefer to leave apartments empty rather than fill them with deadbeats they can’t get rid of.
With doctors calling the shots in Ontario, expect to wait in the waiting room for another two or more weeks before all sops can open
Flop’s Coronavirus Song of the day.
(Regarding all the closures this summer)
Don Henley
Boys Of Summer.
https://m.youtube.com/watch?v=gb1wYslTBk8
Let’s see what Mr Henley thought was going to happen way back in 1984.
A Snippet.
Nobody on the road
Nobody on the beach
I feel it in the air
The summer’s out of reach
Empty lake, empty streets
The sun goes down alone
I’m driving by your house
Though I know you’re not home
Re: #30 Niagara Region on 05.01.20 at 4:37 pm
About the same as Australia. Canadian REIT’s will have one last gasp before the 2020 election and then implode shortly after the U.S. election.
“… but look at this: CAPREIT collected 98% of all the rents owing to it from tenants in April. The number of renters on deferred payments equals less than one per cent. Occupancy is sitting at 98.2% of its units, and the trust is actively marketing the vacant ones, striving for 100%.“
Xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
And we are suppose to believe this???
No one is paying rents, BUT, according to G-Arth, the REIT
renters are? I Say FAKE News!
U 4get-a-bout-it.
Next.
Public companies must make true statements. Unlike blog posters. – Garth
#2 Screwed Canadian Millennial Do you have parents or grandparents still living? If so is that what you want for them? All generations had to deal with the hand they were dealt. Playing the blame game is for losers. We have 3 millennials in our family. They are doing fine. Perhaps you might consider a life of service to others like say the Salvation Army? Just do the best you can with the cards you hold. Stay positive. When we raised our three kids and could barely afford what we needed we got part time jobs on top of full time work. I do believe things may be tougher for younger folk now but there is nothing to gain by wallowing. I wont bore you with what my kids have done. You have to think outside the box. Now get out there and give er! Or wait for you CERB cheque lol. BTW do you have a lab in your mom’s basement? All kidding aside take care of yourself as best you can.
DELETED
#63 Marco You’ve never seen a rig in action have you?
I watched Mr. Socks address the press about those lost in the helicopter crash. And I thought: I really miss Don Cherry.
All those ARs are being buried in the back 40 as we speak. Lets see if the RCs come searching for them.
Will they disarm the Mohawks?
Handguns used in all Toronto area crime. Not even addressed.
Trudeau has accomplished nothing again as usual.
UBI confuse me a little. I understand it is like necessity because jobs go to robots. But what happens to immigration, then? What happens to landlords, immigration lawyers, consultants, ESL instructors, mentors, all that essential jobs?m
Great advice, triple AAA post… time to nominated GT to Canada’s Walk Of Fame, financial literacy is not a right, it should be…golf clap.
After a pandemic overreaction by the govt, curtailing our rights and freedoms and attempting to anoint himself dictator, Trudeau just increased national interest in gun ownership by 500%.
Cough, COUGH…COUGH…a.a.a…aaa…chooooooo!!!
I’m so excited, mind if I come a bit closer to you and tell you why?
I just met this amazing babe online…we’re a ..a…a….perfect…..ma.aatch..oooooOOOOOOO!!!
http://torontopolice.on.ca/newsreleases/47033
Re: #49 I agree with -=withwings-= comment. Personnaly never been in contact with guns, never hold one in my hands. Hard for me to understand what gun owners are feeling with regards to the new ruling and how it is restricting their freedom. I’m not being sarcastic, maybe naive.
Wow Garth, didn’t take you for a gun control nut.
So…you asked what freedom is. Before I make my comment I’m gonna preface it with this: I have never owned, held, touched, fired, loaded, or otherwise nuzzled a gun. Ever.
Now what is freedom? Freedom is having the wherewithal to challenge your government when the they threaten that freedom. I figured that with the unconstitutional BS going on right now in the name of a virus that at the very least you would understand that.
I’m 58 years old and I have always been a proud Canadian. For the first time in my life I find myself questioning that pride.
My wife is a US citizen and I have options. I am thinking of moving to the US. Texas, in fact. It will cost me a lot personally. But I’m willing to separate myself from our “free” Canadian health care system, and pay US insurance premiums in devalued Canadian dollars to leave this commie hell.
Yes. I’m serious.
In B4 MF says “bye”.
I much prefer a pitchfork to a gun.
No law on the books against transport of, or an accidental incident with one.
Plus they can perform multiple tasks, silently.
Nor do they cost much.
I get tired of reading gun justification rants.
They are all the same.
Move along fearful people.
Golf Season is on Baby!!! Starting tomorrow.
Sorry Garth but I gotta ask….Tesla stock or Bitcoin? (Obviously this scenario is life or death)
Australia, dressed splendidly in a speedo and thongs, has pulled out the slingshot and is currently having pot shots at Big Bad China, trying to hold them accountable.
Canada?
Haven’t heard a peep.
We still hustling to get their 5G?
I’ll be fine without it.
I don’t even have 4G yet…
M45BC
#65 Steven Rowlandson on 05.01.20 at 6:25 pm
Renting anything is usury and is against divine law.
Better find a way of selling cheap land and cheap homes and forget about real estate as an investment.
————————————————————————————————
“Renting anything is usury” same people that would be living under a bridge unless someone invested in a place for them to live.
#78 not 1st on 05.01.20 at 7:12 pm sez:
“After a pandemic overreaction by the govt, curtailing our rights and freedoms and attempting to anoint himself dictator, Trudeau just increased national interest in gun ownership by 500%.”
———————————————-
Yep. I’m going to get my PAL now. Need to get myself ready for the war against the out of control virtue signalers.
This country makes me sick.
Genius!
In Canada 2015 -16 – 77000 alcohol related hospitalizations and a death toll around 5000.
This is not including other alcohol spinoffs like
spouse abuse, child abuse, rape, acts of malicious stupidity…
Big disconnect here, banning guns which are inanimate objects still won’t get the guns out of the criminals and nut jobs hands.
And endorse and basically monopolize a substance that’s ruined countless people’s lives.
Canadian Government made approximately 11 Billon tax dollars on alcohol sales.
Let’s talk cigarettes and gambling and their healthy attributes.
Golden rule, he who has the gold rules.
Renter with REITs? Genius.
I’ll take a compliment wherever I can get it! Have a nice weekend, Garth.
#78 not 1st
Gun ownership for what purpose? This isn’t a world war or something that justifies protection against an enemy generally imagined.
Get a grip on priorities.
I forgot to mention Alcohols an essential service.
#2 Screwed Canadian Millenial on 05.01.20 at 3:18 pm
The boomers are finished.
—————————————————————–
Wishful thinking Millie….but I do agree that some of you millenials are screwed. Most are doing just fine, a few of you are whiners. Should have moved out of your parents basement long ago. There’s a new wine out now. It’s called “Screwed Millenial Wine”. The more you drink the more you whine. You should give it a try.
#22 Rick
Garth, Good governments can go bad. Look at Germany with Hitler. Just saying… Sometimes it’s good for the civilians to have weapons in case things go nuts! Not saying they will, but we need to keep things in perspective and not forget history.
#2 Screwed Canadian Millenial on 05.01.20 at 3:18 pm
The boomers are finished.
—————
Being in the aforementioned category, could you please enlighten me as to why we are finished?
#53 wallflower on 05.01.20 at 5:52
IH is that you?
I don’t think so. The population of Canada (gta specifically) has been, and will be, nowhere but up. Yes even with the virus.
I work with the immigrant population. I grew up with the immigrant population. The idea that immigrants are going back home is simply false. Just look at the stats, specifically population growth in the GTA.
Condos? Condos may dip a bit, but up they go afterwards (sorry Garth).
MF
#18 Keep Your Rent on 05.01.20 at 4:07 pm
Tenants keep your rent.
Landlords keep your distance.
http://parkdaleorganize.ca/
—————————————————————
What a bunch of losers.
#36 Calgary retiree
Yes cause CNN is such an honest, unbiased, non fear mongering news source. This is why we are where we are. People believe everything they see on CNN and CBC. Brutal, give your head a shake.
#25 Leftover on 05.01.20 at 4:29 pm
Bought CAR.UN a few years ago, dividend portion of the portfolio. It was low yield, less than 3% as I recall, but so solid on the balance sheet and super low payout ratio. It turned into a good thing, can’t complain.
Picking stocks is foolish, I know, but rewarding when you do your homework and don’t get greedy.
—————————————————————–
Picking ETF’s can be just as deadly as picking individual stocks if you are new to the game. 1 bad etf can kill your returns. Just as well off to buy a good balanced fund with a great company with low mers and forget about it.
Renting, bought VNQ today. Genius me.
#75 not 1st on 05.01.20 at 7:03 pm
All those ARs are being buried in the back 40 as we speak. Lets see if the RCs come searching for them.
Will they disarm the Mohawks?
Handguns used in all Toronto area crime. Not even addressed.
Trudeau has accomplished nothing again as usual.
……………………………………..
From Wikipedia:
After graduating, he worked as a teacher in Vancouver, British Columbia. … He has also held jobs including camp counselor, nightclub bouncer, and snowboard instructor.
…………………………
He was actually a valet not a bouncer. He parked cars and hung the ladies’ purses in the cloak room. He had to quit after a lady midget laid him out with a left hook to the nuts. That is when his voice changed and he got all breathy and started speaking moistly and became a feminist.
@#98 Flywest29 on 05.01.20 at 8:04 pm
#36 Calgary retiree
Yes cause CNN is such an honest, unbiased, non fear mongering news source. This is why we are where we are. People believe everything they see on CNN and CBC. Brutal, give your head a shake.
__________________________
even worse than that – people believe what read on facebook and see on youtube. scary shit.
#32 Happy Friday on 05.01.20 at 4:44 pm
Hey Garth thanks again!
How we got side track by stupid gun people
Garth – this doesn’t seem to be following rules #3 “disrespectful commenters will not be published”. Or are these rules only enforced when the commentators political/policy opinions don’t align with yours?
#49 -=withwings=- on 05.01.20 at 5:38 pm
@John #24
Guns don’t kill people, people kill people.
So lets get guns out of the hands of people to make it harder
We should banish cars also, lots of people die or are maimed in them.
THank you! best argument ever for gun control. Lets see, you want mandatory (graduating) licensing (with tests), fingerprinting, mandatory annual insurance, mandatory registration, being able to hold the idnustry accountable to safety standards, the ability to recall devices considered dangerous. the ability for police to question you anytime you operate it including asking for proof of insurance, registration and ownership, mandatory re-testing once you get to a certain age and documented, proven, safety improvements every year…for guns? Yes, please. That would be a start, wouldn’t it?
____________________________________________
You essentially already have all of these things for guns already.. you wouldn’t know that though because your happy with JT’s virtue signaling.
Thorough background check performed by RCMP – yes
2x day course with written and practical exam – yes
5 year licensing – yes
Legal requirements on storage, transportation & use – yes
Police can come to your home at any time to inspect – yes
@#81 Bytor the Snow Dog on 05.01.20 at 7:20 pm
Wow Garth, didn’t take you for a gun control nut.
So…you asked what freedom is. Before I make my comment I’m gonna preface it with this: I have never owned, held, touched, fired, loaded, or otherwise nuzzled a gun. Ever.
Now what is freedom? Freedom is having the wherewithal to challenge your government when the they threaten that freedom. I figured that with the unconstitutional BS going on right now in the name of a virus that at the very least you would understand that.
I’m 58 years old and I have always been a proud Canadian. For the first time in my life I find myself questioning that pride.
My wife is a US citizen and I have options. I am thinking of moving to the US. Texas, in fact. It will cost me a lot personally. But I’m willing to separate myself from our “free” Canadian health care system, and pay US insurance premiums in devalued Canadian dollars to leave this commie hell.
Yes. I’m serious.
In B4 MF says “bye”.
___________________________
you won’t be missed
#47 Conan
3) This clown you speak off would win a strong majority if an election was held today. Perhaps someone else is the clown.
—————————————————————–
Probably, but it has cost the taxpayers $252,000,000,000. Expect a snap election in the fall or sooner.
Here is what that looks like.
https://www.wired.com/video/watch/this-is-what-250-billion-actually-looks-like
#33 Faron on 05.01.20 at 4:45 pm
22 Rick on 05.01.20 at 4:25 pm
Obviously, you don’t know what freedom is.
It sounds like freedom is the state of being ruled enough by your fear or lust for destruction that you feel like you need a security blanket. I mean assault rifle.
——
Or in your case Faron, the need for an overbearing government.
Trudeau’s gun band is completely stupid. It won’t stop criminals from using their smuggled guns to commit crimes.
You may think the average citizen doesn’t need a AR-15, and you’d be right. But when 100% of the speed limits in Canada is the maximum of 100-110kph, you don’t need a car that can do 250kph either. But we allow people to own those. BTW, car accidents kill far more people that legal guns ever have .
#68 Flop
I like this one a lot.
https://www.broadwayworld.com/article/VIDEO-New-Zealand-Trio-The-Starlets-Perform-Quarantine-Themed-ABBA-Parody-20200430
81 Bytor the Snow Dog on 05.01.20 at 7:20 pm
For the first time in my life I find myself questioning that pride.
My wife is a US citizen and I have options. I am thinking of moving to the US. Texas, in fact…to leave this commie hell.
—————————————————-
As a dual citizen living in Canada but raised in the US let me say:
Give it a trial period before you cut your ties up here.
There’s a lot to love and there will be a lot that will make you wonder if you just moved to a developing economy — overall health, education and poverty. Depending on where you go, it will shock you. Maybe enough to see that, although imperfect, the more socialized system up here seems to care for its citizens better as a whole.
Hey Screwed Canadian Millenial: You are about 10 years away from being despised by Gen-Aa. Enjoy your moral superiority while it lasts.
DELETED
79 crowdedelevatorcoughz very likely a psyops to create fear in the public. Homeless people and bums camp and sleep and worse overnight in ATMs every night. People never worried.
#76 Marco on 05.01.20 at 7:04 pm
UBI confuse me a little. I understand it is like necessity because jobs go to robots. But what happens to immigration, then? What happens to landlords, immigration lawyers, consultants, ESL instructors, mentors, all that essential jobs?m
UBI simply removes the need for someone to fall on hard times before the welfare apparatus kicks in. You upfront the cost and each taxation year recipients either skate or kick some back.
People will still work, will still aspire to be doctors, lawyers, real estate agents, immigration consultants, etc because most people want more money. As to immigrants the same type of rules would apply as the CPP/OAS rules do now.
But the artist, the Olympic athlete, the poet, the long form writer; all won’t be forced to live in misery while they work at their craft. All the folks currently getting danger pay, the grocery store workers, the hospital cleaners, the elder caregivers…it wouldn’t be needed because with UBI the folks doing those jobs would be the folks drawn to that work who now have at least the basic income needs met and they can earn a wage on top of that as well.
For you and me might be all taxed or clawed back…for them, they get to live a comfortable life. Like me.
Eventually when UBI is fully implemented you have eliminated federal and provincial involvement in welfare, employment insurance, any number of schemes and subsidies to various groups, etc.
What it does and the reason the right abhors it, is it lessens the gap between the haves and the have nots by lifting the have nots up.
Plenty of room for capitalism and entrepreneurship even with UBI, in fact if its done right it should be easier to make money because you have money in your local economy to earn by selling your time or wares.
The market is doing well but right now the economy is not so good. Imagine if all the out of work folks had at least their UBI coming in?
This is a long post at the imgur link but I urge you to read it. Interesting information.
https://imgur.com/gallery/jnjj2
Gee,
People that cant make rent and need the Rental cash boost are hitting a wall…..
Their landlords wont sign off on their rental assistant claims….
Why?
Illegal suites.
So , CRA will have a field day with tenants applying for rent relief and landlords staying silent……
Basement dwellers unite!
Your Boomer parents deserve an audit…..
@#58 Blacksheep
“The other thing that should be happening is minimum sentences for getting caught with a loaded pistol in your vehicle.
Put em in a cage and through the key away for at least five years, on the first offence.”
++++++
Yep, total agreement. I have a restricted PAL as well.
But….this is Canada….we talk the talk but we don’t put people in jail long term for gun crimes….
Canadian criminals know this….
Gun “control”……..its….a…joke.
Pablum for the idiotic voters.
Sheeple vote Liberal.
#112
Garth nothing inflammatory- just global news clip so why the delete?
You know. – Garth
#91 espressobob on 05.01.20 at 7:50 pm
—
Tyranny of the state friend. The govt does not have a right to confiscate property without representation or consultation or remuneration.
If they can pull a stunt like that on guns, they can do it on anything.
Guess your rights aren’t important to you. By all means be the first one on the train then.
@#89 Trudeau Ban’s alcohol
“Let’s talk cigarettes and gambling and their healthy attributes.”
++++
Classic.
Well done.
#96- You hope…. we believe Garth.
Smoking Man.
A shout out to “Smokey”
Hope yer fighting the good fight.
Chemo, Radiation ……sux the big one.
The Nictonites are here cheering you on buddy.
If you’re too sick to reply.
We understand…..
I don’t see it. I am pretty in tune with Calgary and real estate is still inflated and seems to be moving. How much I don’t know.
Even rental units, no drops yet and there likely won’t be and I certainly don’t see a flood of AirBNB on the market so I am not sure if those theories hold.
Garth, you nailed this…
https://business.financialpost.com/personal-finance/taxes/these-two-tax-proposals-could-throw-investors-a-lifeline
thank you virus! Yet more examples as to great consequences of an economic reset.
#114 Ustabe on 05.01.20 at 9:10 pm
UBI is a fallacy. It will do nothing to close the gap between the haves and have nots. It was tried briefly in Ontario where a single person got $17,000 and a couple, $24K. I’m not sure how you think that closes the gap. The cost is also astronomical to implement so where is that money going to come from? Oh yeah, I forgot – the rich. As Garth has pointed out so many times, there is not that many rich people in Canada.
As Garth has also pointed out, the difference between the haves and have nots is that the haves own assets (assets that pay them to hold it), the have nots own debt. Instead of receiving government handouts in order to “get out of poverty” the have nots should figure out a way to own assets. This is where financial literacy comes in, again as Garth points out, which is severely lacking in Canada. I’ll admit I could do better at figuring out how to own more assets, although, I have a buddy that does a wonderful job at it.
Regarding the weapon ban. Can someone, who has better understanding of how our political system works., explain, how the liberals being a minority government got this into action without voting and support from other parties?
Was this an emergency measure, was it voted and passed before, other mechanism?
As usual the new Firearms Legislation will not apply to the Mohawks, who have the largest stash of weapons in Canada, fully automatic AR15s
No wonder the cops wanted assistance from the military during the railroad blockade.
97 Ronaldo – a pretty good article
https://www.theguardian.com/cities/2020/jan/14/my-parkdale-is-gone-how-gentrification-reached-the-one-place-that-seemed-immune
Still haven’t been able to throw the garbage down condo garbage room chute since Garth’s yuck comment about the door handle the other day. Have a hazmat suit order placed with Amazon. Hope it gets here soon as the fermenting meat scraps and limburger cheese in my kitchen garbage pail are gut wrenching. The only thing I can do to counter is continue to not shower and hope the funky pheromones overwhelm the fumes.
There will be an uprising and revolution against all of this, starting on Monday, May 4th.
Be there.
Some good news.. and good corporate governance… Irving Oil, in NB, is trying to secure a Permit to lift Tankers of Canadian Crude, via the Panama Canel, to thier Mega Refinery, and process same… Likely a good business decision, given the Predatory practices, of the other major Global suppliers. This is one of the first pieces of News lately that makes me more positive about Canada’s future… Common sense support for all Canadians.
Here is wishing those Folks, in Fort McMurray a hope for some Good Luck… You sure deserve our good wishes for all your troubles… Support Alberta, it is a great and welcoming province, that has been a good place for many Easterners….. Miss the Atlantic Trap and Gill Pub…… and Albertans are welcome in my BC.. Anytime…
Anyone know why central banks would need to, or want to buy “junk bonds”? It seems obvious, to me anyways, that the name says it all; its junk so little to no value. What’s the use then, of buying them?
Meanwhile, going to do some reading on this matter.
Thanks!
114 Ustabe – thank you for the link. I find the concept interesting, and worth discussing, though I view it as much more a potential economic solution, rather than a form of social justice.
#81 Bytor the Snow Dog on 05.01.20 at 7:20 pm
Wow Garth, didn’t take you for a gun control nut.
So…you asked what freedom is. Before I make my comment I’m gonna preface it with this: I have never owned, held, touched, fired, loaded, or otherwise nuzzled a gun. Ever.
Now what is freedom? Freedom is having the wherewithal to challenge your government when the they threaten that freedom. I figured that with the unconstitutional BS going on right now in the name of a virus that at the very least you would understand that.
I’m 58 years old and I have always been a proud Canadian. For the first time in my life I find myself questioning that pride.
My wife is a US citizen and I have options. I am thinking of moving to the US. Texas, in fact. It will cost me a lot personally. But I’m willing to separate myself from our “free” Canadian health care system, and pay US insurance premiums in devalued Canadian dollars to leave this commie hell.
Yes. I’m serious.
———————-
As another dual citizen, I say absolutely keep your options open. The US is a wonderful place and you won’t miss the socialized healthcare slurry here in the least; most of my friends here actually choose to go to the US for elective surgery rather than wait.
I’ve lived in: Alaska, Michigan, Tennessee, Texas and BC … and have greatly enjoyed each place for different reasons. I enjoy the general disdain for regulation and authority in the US.
One thing I always found funny when I first met my Canadian now wife was her strict adherence to the rules. She’d wait for the walk signal even if no cars in sight, haha. Or would stay within ski boundaries because… ropes. Baffling but cute.
Americans maintain a healthy skepticism for governmental authority. I do my best to pass that on to my employees, family and friends here, but rule-following seems almost ingrained.
If you do move to the states, we might cross paths. Especially if you bank in South Dakota.
#17 D.T.
don’t let the door slam on your ass as you get the hell out of canada.
Please hurry and head out.
#22 Rick on 05.01.20 at 4:25 pm
How is an assault rifle in the hands of a civilian a ‘tool of freedom’? – Garth
Obviously, you don’t know what freedom is.
Guess not. Explain it. – Garth
——————
Freedom is just another word for nothing left to lose.
So the part-time snowboard instructor used a lunatic’s rampage with guns illegally smuggled in from the United States (through the un-policed aboriginal reserves) to go after the handful of LEGAL Canadian gun owners who are some of the most well regulated and heavily licensed in the world?
Can’t way for Mr. Mackay to punt this crass weasel and his Liberal entourage from the feeding trough.
Garth, can you comment on the following for comparison purposes:
CHP-UN.TO
$12.08 (from $13.83) w/ 5.86% dividend – down 12%
REIT division of Loblaws Properties
CAR-UN.TO
$47.94 (from $53) w/ 2.88% dividend – down 9%
I’ll give you the growth trend works to their advantage.
Would you list CHP-UN as having equal or better upside then?
#81 Bytor the Snow Dog on 05.01.20 at 7:20 pm
I have never owned, held, touched, fired, loaded, or otherwise nuzzled a gun. Ever.
—————–
I have owned and used guns my entire life, and of every type, from fully automatic machine guns in the military to hunting weapons, handguns and blackpowder rifles. There is nothing special about a firearm. It’s just a tool.
Banning firearms makes as much sense as banning hammers.
#96 MF on 05.01.20 at 8:03 pm
#53 wallflower on 05.01.20 at 5:52
IH is that you?
I don’t think so. The population of Canada (gta specifically) has been, and will be, nowhere but up. Yes even with the virus.
I work with the immigrant population. I grew up with the immigrant population. The idea that immigrants are going back home is simply false. Just look at the stats, specifically population growth in the GTA.
Condos? Condos may dip a bit, but up they go afterwards (sorry Garth).
MF
—-
Nope, not me.
I’ve never claimed the gta population is sinking. It’s being rammed full of foreign immigrants as anyone with a functioning brain will clearly acknowledge.
I like to point out more subtle facts, like Toronto losing more of its actual Citizenry to surrounding cities within its Province than any other city in Canada. Like the fact that Toronto is the single most unhappy city in Canada. Like the fact that the fastest growing intra provincial migration demographic exiting Toronto are domestic Millennials.
As far as lots of immigrants leaving Canada, they are. Take your dissent up with statscan and McMaster University, they did the research and made the claims.
I just recently read a statscan release on the citizenship rate of Canadian immigrants, latest data 1996-2016. Guess what? It’s dropped a whopping 20%, and now sits at only 60%. East Asian Citizenship rate in Canada is probably right around 40% right now. 10 years ago it was 83%. These folks were a huge source of new Canadians for decades, but not any more. This was expected by pretty much everyone, and has now proven out.
Remember what I’ve been saying about Toronto becoming a landing pad for a transient population?
It keeps getting worse. Canada is going to have big issues getting new Citizens in the decades to come. Instead, we will be filled with TFW’s, students, permanent residents, visitors, transients with multiple citizenships, and lots of hopefuls who have a better than even chance of just saying the hell with it (single males) inside 10 years of arriving.
Unrelated: Canadian diaspora keeps getting bigger too…
#117 Doug t on 05.01.20 at 9:28 pm
#112
Garth nothing inflammatory- just global news clip so why the delete?
You know. – Garth
—
Is it the clip where Justin Trudeau says he admires China’s dictatorship because you can implement policies without citizen buy in?
#81 Bytor the Snow Dog on 05.01.20 at 7:20 pm
Bye Felicia
#4 Fused on 05.01.20 at 3:20 pm
Best investment, military style assault weapons, they will be sold for pennies on the dollar now, sell them back to T2 at full book value.
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That’s not going to happen. First it’s a lot of paperwork to sell a gun even privately. Second, people remember the last gun collection. Most of these guns are simply going to “disappear”. Sure they are registered but I think the police have better things to do than try and track them all down. It is a mere political stunt. And notice it does nothing to get unlicensed illegal guns off the streets.
All this is going to do is keep the honest folks honest. Anyone who might use a gun with bad intent will not be affected by this law, but the honest folks will be unarmed if they comply and they understand that well.
And my understanding is that true assault rifles have been illegal or heavily restricted in Canada for a long time. A US AR-15 is automatic. They are semi-automatic when sold in Canada although it doesn’t take much to return them to automatic mode, but that is illegal.
And notice that hand guns were not addressed? That is because there is already all sorts of rules surrounding them. In addition to special permits, you can’t even transport them to a gun range without locking the gun, the firing pin, and the ammo all in separately locked boxes. But yet hand guns account for 57% of the gun related violence in Canada. Why? Because criminals don’t care about your stinking laws.
Its being reported that April was just a prelude to a very nasty May overture. The ‘sh*t is flying towards the fan, it hasn’t actually hit the spokes. IMHO, the worst is yet to come. I listened to Sonshine talk yesterday ( REI.UN) and he’s not coaching terms. The REIT market is in for a world of pain if the Corona lasts another month and it’s hell on earth if it lasts two.
https://www.timescolonist.com/news/local/rent-is-due-worries-about-being-able-to-pay-1.24127556
I agree on the foreigner based Air B&B ‘superhosts’, owning several rental units on bank credit as amateur landlords, roadkill. The trail of bankruptcies is building into a tsunami which will only start to crest over the next couple months. Its going to get worse, a lot worse. Why did the banks bankroll so many non-Canadian landlords? They’ll answer for that.
So, I think theres a lot of downside to REITs yet, a lot. The BOC and GOV swept the big numbers into April when the March numbers were horrible. Thats why the CERB application had to wait until April when people needed rent money in March. The EI apps were cruising over a million. Now the CERB numbers have sped past 7 million. The SME jobless claims might double that.
The headlines are going to kick the retail investors in the teeth. I imagine there’ll be another big sell off. Especially now that amateur investors are getting real estate margin calls due to mortgages due and zero income from no vacation rentals and no new tenants.
The US business news is already covering this everyday. The CDN media is obvious working in concert with GOV to parse the bad news and try to keep Trudeaus poll number from collapse under the bad news. On Bloomberg and WSJ they interview the superhost landlords who’ve seen the transient income dry up and leave them with in some cases dozens of properties and no income. In the US that means bankruptcy. Its only a matter of time when reality bumps Trudeau’s gun politics off the podium.
Earnings season is almost over, all bad guidance going forward, nothing in most cases. The past quarter wasn’t good, but it wasn’t good. The next quarter is when all the bad news really hits. Expect that splat to hit during the summer. Sell in May is already started. Most polls show there’s no smart buying. The recent rally was a sham. Horde cash, better days ahead for the aggressive investor, see you 2022 when current house prices are 50% lower than today.
“When the Whip Comes Down”. Lov that song.
As the USA media screams more than 60,000 dead from coronavirus… why does the CDC website record just over 11,000 PRESUMED and confirmed deaths from covid-19 ?
The other over 40,000 deaths are from pneumonia/flu !
All cause deaths numbers are also DOWN.
https://www.cdc.gov/nchs/data/health_policy/Provisional-Death-Counts-COVID-19-Pneumonia-and-Influenza.pdf
#115 Crowd. Indeed, I heard a case of that recently. Tenant applied for the $300 ( single no dependent) rental relief subsidy from BC Gov. The landlord, an 70 something Victoria landlady freaked.
She has been collecting rent tax free. Very pissed, enough to sneak out and cut internet phone lines to the suite in ‘revenge’. How pathetic right? Wait, there’s more. She left dirt on the cables in her haste and dumped the dirty gloves and clippers on the front stoop. Cops came, had a talk. Telus and the tenant filed reports of criminal vandalism.
Now shes getting it from all sides, angry tenant who refused her rent increase notice, cops and City pissed for no license registration for suite and no taxes, plus claiming home owner grant where she did not qualify for.
She’s old, and worthy of sympathy, but, how many others are getting tangled in this net, lots? i’d think so. Hah, serves them all right. Entitled and greedy.
Article in Times Colonist today speaks of interview with CRA detective uncovering all the scammers who applied for CERB and don’t qualify. Some cases of blatant fraud, double, triple dipping. It’s going to be a bad thing when hundereds of thousands , maybe millions, are forced to cough up. HAH, for the ones who steal I say, HAH !!!!
https://ipolitics.ca/2020/04/30/is-this-the-end-of-canadas-employment-insurance-system-as-we-know-it/
But, my question is – The CERB is for 4 months, started March 15 and paid first installment April 15. Its already May and the program ends in JUNE !! the jobs numbers in March were bad enough to cause Trudeau to panic and fund the giveaway. The May numbers are five times worse.
The unemployed numbers have jumped from 1.1 million EI claims to 7.5 million CERB applicant plus the EI , plus the April/May SME huge numbers of new closures and additional layoffs, likely in the 4-5 million range. Add it up and you’ve got at least 13-15 million officially counted unemployed. And there’s more in all the uncounted contractors. Are the real unemployed numbers above 20 million?
What happens in June when the CERB ends? The situation has become far worse as the months crawl by.
Whats the plan Justin? You’ll need more than gun play to brush this off.
re: gun control
I am not in favour of anyone but military and law enforcement having possession of certain types of weapons. And laws designed to facilitate that are already in place, and have been for many years.
But the argument that someone shouldn’t have something because “they don’t NEED it” is a very dangerous one. Not to mention paternalistic in the extreme. Forget guns, it does beg the question what will next be deemed “unnecessary” by your “betters”. If you can’t make that logical connection, you can’t really be helped.
No on has yet to cogently explain how these bans would have prevented the murderer from Halifax from doing what he did. He was using weapons that were all obtained illegally. He was not licensed to have any firearms. If even a weak case could be made that the new bans would have prevented this tragedy I would listen intently.
From all accounts the main excuse, I mean reason, given by the Mounties for their to inability to stop and apprehend the killer for more than 12 hours was his use of a replica uniform and police car. I have not heard of any efforts to tighten laws on possessing such items. Thing is, just like gun laws, there are already stringent rules on such things. But I suppose announcing new rules on replica police cars doesn’t push the same buttons with the voting fools. The vast majority of whom are frightened, urban sheep who have zero experience with firearms beyond what they see in the movies.
Canada already has some of the strictest gun laws in the world. The bans will achieve nothing towards their stated goal and just polarize the populace further, with the added side effect of driving the more militant to ever-more extreme positions. Think what you want of gun enthusiasts, but they certainly have more strength of conviction than most of society.
I’m not a gun owner. But I’d like to believe I could responsibly own one – even a scary-looking one painted black – if I passed through the multiple rigorous checks that are in place. Those not interested in the previous rules are not the ones going to be affected by the new ones. So everyone loses. I am thankful to have close ties to a country for whom the memory of lost civil liberties is still fresh enough that they can still recognize the erosion of same.
Most of all, I despise the cynicism of Trudeau exploiting the tragedy in Nova Scotia to score political points. What a loathsome tactic. Shame on those who fall for it.
Trudeau may try for a majority, He has been playing mister popular buy giving money here and there and every where. The gun ban makes people feel safe while accomplishing nothing. The sad reality is who is going to pay for all of this? The rich people? There isn’t enough of them. Business? All the small ones are done and their owners will may not try again. Big businesses simply move profits to low tax states. I know is only a drama teacher but some one can do the math for him. We will spending a lot due Covid and revenues will be down greatly, maybe we should increased GST a long time ago and not run deficit when times were good. We are headed for bad times for years not months. Canada has a productivity issue which will get worse. The world has too much oil so our natural resources income will be down. Climate change will affect agriculture and forestry.
So the only thing left is that we all work for the government. We are on the road to serfdom. The hard times will lead to people electing a strong man will simple solutions. Good buy freedom!
#108 Freedom 57 (I was a slow learner) on 05.01.20 at 8:34 pm
Trudeau’s gun band is completely stupid. It won’t stop criminals from using their smuggled guns to commit crimes.
You may think the average citizen doesn’t need a AR-15, and you’d be right. But when 100% of the speed limits in Canada is the maximum of 100-110kph, you don’t need a car that can do 250kph either. But we allow people to own those. BTW, car accidents kill far more people that legal guns ever have .
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When I read posts like this I am struck by the abject and profound stupidity of the person who blathered it.
“BTW, car accidents kill far more people that legal guns ever have .”
What purpose does a CAR have? To transport people from point A to point B. And in the process, sometimes accidents happen. And on occasion someone uses a car as a weapon. But the purpose of a car is transportation.
What purpose does a gun have?
To Kill…people or animals.
Or to target practice (practice to kill).
Good Lord, are people really this under educated or are they mentally defective? I truly wonder what happened to their ability to think..to function.
No wonder Trump got selected….by stupid people who don’t have the slightest idea that they’re stupid.
Residential reits must squeeze additional yield by making capital improvements and then seeking above rental guide line increases. In fact , rent becomes more expensive. The other way is they increase density by building on existing sites. Either way rents go up not down. Money is not made when they buy at a 3 cap unless additional yield is found.
Keep an eye on your Pensions as the globalists turn First World countries into Second world.
It’s all here on this UN site. See that colourful logo? People have noticed their elected leaders even local ones worldwide wearing that as a lapel pin. I’ve been telling you all lately last year here, they all are on board. This is moving so fast now.
https://unfoundation.org/what-we-o/issues/sustainable-development-goals/?
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“Alberta pension manager loses $4-billion on investment bet gone wrong”
– Over past decade all public and private pension players bought up tons of infrastructure including tons of transportation hubs and airports. Which now are dead as the globalists killed demand with the co-ordinated shut down.
Would would you buy a business class plane ticket to wait in long lines then sit there for 10 hours forced into a mask and breathing recycled air? Those pension assets may be a flagging industry.
…
Births – Deaths + Immigration – Emigration.
The government heavily controls one part of this equation.
Where will the jobs be, even for those coming here for a better life in the wake of this reduced demand? Taxi, Uber and Hotel jobs, and small restaurants were always great starting points for people new to the country. All that’s gone now.
And for those treating this country simply as a place for free health care and UBI, well get ready to pay for that.
What about this for new economic family. The nuclear family – as it blows up the deficit:
– One adult works and holds all assets in their name, and claims expense against this.
– The other adult remains on the books as tenant, not as partner or spouse and collects UBI.
– Two kids, once they reach adulthood continue living at home, but as tenants, and collect UBI.
That’s $6000-8000 each month in UBI cash flow, enough to carry a million dollar house.
– Assume: all real estate will be taxable as cap gains once sold; therefore declaring part of the primary residences as rental/tenants is same-same as selling it taxwise
SAY when is the plan for re-opening Courts and Rental Tribunals? I have a sneaking idea they will never be re–opened at least not in current form. The jails are being emptied out. For whom? Us?
To #145 Sky
Thank you for providing that link to a factual summary of Covid 19 deaths in the USA compiled by the CDC.
The mainstream media grabbed the pandemic and began to hunt for Covid 19 in their soup. Rational examination of the true impact of Covid 19 around the world was thrown out the window and replaced with a daily scorecard and so called expert opinions designed to boost revenues.
In spite of the facts indicating that the large majority of deaths being attributed to Covid 19 around the world occurred with individuals whose immune system had been compromised the media continued to compile their death charts without factual analysis.
Our governments did a very poor job of protecting the most vulnerable from Covid 19 and decided to cripple our economy before the true risk to the general population had been determined.
Recording deaths where the Covid 19 virus was present, but not the primary cause of death, was misleading demands a more detailed analysis of mortality rates by impartial professionals.
We deserve the truth before the spin doctors start telling us that all our pain was worth it to save millions of lives.!
Post pandemic will bring changes especially REITS holding office space
https://www.cnbc.com/2020/05/01/major-companies-talking-about-permanent-work-from-home-positions.html
#144 Terence Blarney on 05.02.20 at 3:09 am
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Had to run to the bathroom reading this.
@110 Faron and 134 Sail Away:
Thanks for the advice. Appreciate it. To be honest we were already looking at moving the the US part time because, frankly, the older I get the more I can’t do winter. In that vein we were looking for a seasonal “home” in the American Southwest area- Texas, Arizona, maybe even Vegas. The wife’s older brother who recently passed lived in Salt Lake City and loved it there. I don’t know if Salt Lake City is for me.
If we want to cut ties entirely the wife’s relatives who don’t live in Canada all live in Michigan in the far Detroit suburbs. We would come back there for the summer months (too hot down south). It would be cheaper to come back to SW Ontario to keep our health care benefits alive but I really don’t wanna pay taxes to enable the Social Justice Complex in Canada anymore.
Yes, I feel that strongly about it. Our country is lost, totally running on feels. As the comments in this thread by a few “well wishers” perfectly demonstrate.
Trudeaus gun ban violated the charter and the constitution yesterday so I imagine lawsuits are flying today.
He banned those guns for everyone but natives. Said people don’t need AR15 to hunt deer, but the natives still need them to hunt deer.
Unequal application of the law equals immediate SCC challenge. His cynical vote buying without stepping on too many toes just blew up in his bearded face, again.
Trudeau is trying to buy himself a minority before the tsunami comes back in. He theoretically has to make it to at least September to do that. I would say the govt is out of money before then and reality starts to hit home.
#76 Marco on 05.01.20 at 7:04 pm You can be a robot or a robot builder. You just need to stay one step ahead. Make better choices and you will get there.
#149James-I love these comments by the stupid sheep who hate Donald Trump because the MSM has told them non stop for four straight years to hate Donald Trump-all the while telling them how informed and intelligent they are to hate Donald Trump unlike those ignorant Trump supporters-these stupid sheep NEVER attack Trump policies-only his appearance (mostly), his tweets, and his boorish nature. That is it-these stupid sheep actually think the MSM is some sort of public service run by the likes of Mother Theresa-just there to help society. They cannot even see that Joe Biden’s brain is fried even went the evidence is staring them right in the face. Jeez.
#41
FYI, majority of Covid came from US, not China. National Post.
https://nationalpost.com/news/politics/canadas-early-covid-19-cases-came-from-the-u-s-not-china-provincial-data-shows
#156 Bytor the Snow Dog on 05.02.20 at 8:40 am
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Re: possible US relocation
Good luck. RRSP, CPP, OAS all cross the border seamlessly. It’s always good to have a contingency plan in place. The parachute if needed.
#147 BillyBob on 05.02.20 at 5:14 am. All good fans will even know that Sgt. Pepper needed special permission from the OPP.
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No more gun debate. – Garth
#151 TurnerNation on 05.02.20 at 7:29 am
Keep an eye on your Pensions as the globalists turn First World countries into Second world.
It’s all here on this UN site. See that colourful logo? People have noticed their elected leaders even local ones worldwide wearing that as a lapel pin. I’ve been telling you all lately last year here, they all are on board. This is moving so fast now.
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Is there another link for that article, because either they deleted it or the sites down.
Thanks
#162 Sail Away on 05.02.20 at 10:15 am
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No more gun debate. – Garth
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I never debate guns; that’s like debating differences in religion. I was just clearing up an error. No worries.
#157
I have posted before about this, you are in the wrong State of our post nation State. Different rules and expectations for different for each “State”, so much easier to divide and conquer, Motti tactics.
@ Do we have all the facts (#153)
Our media is worse than Pravda and Izvestia during the Soviet days. But the Russians KNEW they were being lied to and tuned that crap out. In the west we now have Branch Covidians who sit with their eyeballs and ears crazy-glued to the boob tube and who absorb those lies like mother’s milk. It’s become their life blood. And these are the idiots who are marching us to our doom.
Factual information is becoming very difficult to get. Soon it will be gone entirely. Hospitals and doctors being censored daily now on the internet. The equivalent of digital book burning. Remember that book burning always preceded the ovens and the mass graves.
I’ve read enough history to understand what’s coming next. And no, it’s not different this time.
Some think this will play out like Cuba or Venezuela without factoring in that it’s entirely different surviving in a tropical country than in the frigid north.
Others think their stock portfolios will cushion them from what’s ahead. They will. To a limited degree and for a very limited time. But it won’t be long before those with money and assets become targets of the powers that be. History tells you that.
It took centuries to build our western civilization and it’s being vaporized before our very eyes by the fraudulent technocrats who pawn themselves off as our medical saviors. They are the new high priesthood and the Branch Covidians are happy to worship at their feet.
After all this I just figured out I’m a Libertarian.
Garth, I rarely comment but this blog post confused me. It seems you are saying that owning a condo to rent to others is a bad idea (for amateur landlords) but you should invest in REITs because they have this great business model of owning condos to rent to others. I understand that being an amateur landlord has problems of administrative hassle, small scale, eggs in one basket etc, but is owning a condo to rent to others currently good or bad business?
Owning one condo to rent out is a horrible idea. Owning 56,000 of them is a great idea. – Garth
Branch Covidians! Good one!
My significant other and I are 2 technology professionals in Vancouver. We paid in April and May, as we both have full-time jobs and are not affected (yet).
Since we are in the ideal tenant in Vancouver and that we found dozens of units for less, we were able to negotiate a 10% reduction on our rent. Our landlord said yes immediately, no question asked.
If you are in that situation, you are better off using it to your advantage and negotiate.
#49 -=withwings
@John #24
Guns don’t kill people, people kill people.
So lets get guns out of the hands of people to make it harder
We should banish cars also, lots of people die or are maimed in them.
THank you! best argument ever for gun control. Lets see, you want mandatory (graduating) licensing (with tests), fingerprinting, mandatory annual insurance, mandatory registration, being able to hold the idnustry accountable to safety standards, the ability to recall devices considered dangerous. the ability for police to question you anytime you operate it including asking for proof of insurance, registration and ownership, mandatory re-testing once you get to a certain age and documented, proven, safety improvements every year…for guns? Yes, please. That would be a start, wouldn’t it?
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Hey remember when insurance companies wanted to put devices in your car to track your every movement?
If you where good you would warrant a better rate.
I said no one in their right would without mandate do it.
So… I do not hear anything about that brain dead idea anymore, can someone tell the up take was less than
5%
Well, I have read many opinions on this blog.
Feels like people are cranky. That’s what happens when you have time to ‘ think’. But do not worry, it will be a matter of time when you shall be busy again slaving for your ‘ needs’.
Okay, many of you hate our beloved Prime minister, why? Because you do not have the freedom to own ANY GUNS you want. Really? You hate Canada because you are forbidden to own guns that there is no real reason to own? Go ahead, go to United States, you shall be the proud owner of most guns. You will need many of them to protect yourself.
Our health care suck, I should know. I have gone around the blog with mine, and husband’s health issues. But, at the end, I am grateful that my husband recovered from heart, cancer surgeries. As for me, I had hip replacement, stent was placed in my heart. And now, I am ‘ waiting’ for my spine surgery.
Yes, waiting. But, start counting the cost of the above surgeries. Who paid for it? The Canadian taxpayers. Me, and you!
Thus, I shall not focus on how long we had to wait for getting treatments. What I shall focus on, is the fact that it eventually was done. And for that, I thank my beloved home called CANADA.
Buffet spoke, his fortress is badly damaged, the famous moat is gushing red ink. 50++ billion down the Oracle’s famous crapper. No wonder Munger didn’t show.
REITS are only as good as the tenants that rent them. Trudeaus 75% rent promise still means that a business has to come up with 25% . When a shop is making zero, it’s moot. They’re done. No rent no reit, it’s simple. Many REITS are toast. Deferrals don’t work either, no income means no payback.
Frankly most landlords have been greedy and parasitic. They deserve to go broke. City of Vancouver for example, hits SMEs with outrageous taxes. They were also mercenaries for developers taxing small business out of locations they’d occupied for decades. Who were the developers? Mainly foreign capital. Entire neighborhoods went black. It’s time to reduce city wages by half. The unions rode the gravy train up, times up.
More SMEs are going broke. Trudeaus shifted the CERB into April so the numbers didn’t show, but the April May numbers are far worse. What’s going to happen to the 8 million CERB recipients when June rolls around? Add to that the five million on EI? What about the yet to be counted job losses from collapsed SME’s?
June is next month. The media isn’t reporting. Trudeaus spinning gun control and Greta’s new hair do. JUNE…is next month and millions will get back to the same position as they were in April, no job, no rent.
Where’s the concerned plan? Hello? You’re talking condo sales? Sales to who exactly?
It is making us renters in Vancouver happy to the see Airbnb cancer being demolished with this. Just purchased furniture from people closing up an Airbnb operated illegally from a rental only building. Schmucks.
Another REIT is NWH.un that owns hospitals and doctors offices. 80% of which according to the last NR is paid for by the govt, either directly or indirectly.
TLDR – Where renters rock
[] The previously red hot TO rental market is experiencing a covid-19 cooldown. As this markets upper hand switches sides from ‘the land lord’ to ‘the ten ant’, TPB reiterates it’s long held position that the land lording biz can ‘suck’, especially for amateurs and can be ‘extra sucky’ for the over leveraged
[] OTOH, the pro’s(REIT’s like CAPREIT), are sitting pretty ATC, 98% occupied with rents paid (for April), $ in the bank and lower costs on TRA,
[] LESSONoftheDay – a simple 3 step plan to profit [1] Dont buy a condo UNLESS it passes the math (most likely won’t) [2] it’s time to RENT in TO, [3] invest monthly saving$ buying quality REIT’s at currently discounted prices [4] profit