Careful what you wish for

An hour into the disgraceful Trump-Biden brawl (and as the President incubated the virus) Google searches for ‘moving to Canada’ peaked. Of course once scared Americans started looking at real estate prices in this great, frozen, pooched nation, it fizzled a bit.

“My grandparents’ small house in southern Ontario was just resold for $775,000,” a Twitterite posted. “About 3 times what we sold it for 10 years ago. The average income in the town is $50k. How do Canadians afford to live there?”

We can’t. We just borrow heaps of money and pretend we own stuff.

But look at this. If just 1% of Americans moved here, that would soak up about two million houses. In all of 2019, right across all of Canada, only 458,500 property transactions took place – and prices still went up. Just imagine if the Yankee invasion were to materialize after a second Trump victory – with all those liberal, SJW, progressive, NYT-reading Karens flooding across the 49th.

‘Move to Canada’ trending. Are you sure?

Source: Google Trends

But is it already happening, sort of?

Covid has had material impacts on the housing market in 2020, as this pathetic blog has chronicled. And there are more to come. The virus crashed the market in March and April, then turned it blistering hot in July and August. Condos have fallen seriously out of favour as people worry about germy elevators and diseased neighbours. Meanwhile Airbnb crashed, rents were frozen, evictions halted and amateur landlords skewered.

As WFH turned into a thing, suburbia caught fire. Now silly people are paying seven figures for ugly houses with garages stuck on their noses perched on streets where nobody walks with sticks called trees, miles from the core. And recall that rental weirdness a couple of days ago in Huntsville? Oy.

As mentioned here recently, this blog has been stuck inside the Atlantic Bubble for a while which, apparently, has the best virus record in North America. A single new case in NS, for example, is a rare thing. They’re normally dumped at sea. But one guy escaped and is in hospital at the moment.

Anyway, here’s the skinny from a Halifax realtor:

Any way you slice it, summer had to have smashed some records in real estate this year, it truly has been an incredible market. Still, many await their turn to enter the Atlantic provinces, hoping someday soon the bubble will burst and they can plan their relocation. Until then, many people stand by to send another surge towards our housing market when it does happen, so tracing the impact of that event will prove interesting indeed.

Halifax has 600,000 people and – until last year – was incredibly cheap. Now the average selling price for a SFH has increased 28% – or almost double that of the GTA (to $415,000, which is still a bargain). Total listings have shrunk by about half as buyers overrun the place and days-on-market have dropped 53%.

And the little 2,000-soul touristy puddle where my baby bank-by-the-sea building is located? Listings are snapped in a couple of days. Prices in the ‘old town’ have risen 40% in a year. Unprecedented. Most buyers are online FaceTimers. The locals are being shut out. Again. First Americans and Airbnb were the scourge. Now it’s those damn Upper Canadian refugees.

Thus the virus has plumped values from here to Nanaimo. Niagara is a bidding war disaster. Valuations in London and Windsor are nuts. Urban Montreal has seen a 40% spike in sales and detached prices have risen 24%. Transactions in Quebec City were up 62% in August.

So here’s why this is all so strange, and Americans yearning for a simple safe and Trump-free life may need to consider Lithuania instead.

The chart below comes from mortgage rockstar blogger Rob McLister and debunks this myth: cheap mortgage rates make home ownership more affordable in Canada. No, actually, they don’t. You are still screwed if you try to buy without a pile of money.

Source: Ratespy.com

This portrays the minimum monthly cost a typical borrower would have to shoulder to buy the average new home in this land. Calculated in constant dollars (no inflation) it tracks routine financing, heat and taxes and is based on 5-year posted mortgage rates. So it gives a true answer to this question: are houses more affordable now? Answer: not a chance. As rates have dropped, prices have jacked. Buyers rushing in today are embracing more risk than ever. They just think they’re smart. Mortgage payments down. Mortgage debt up. Ownership costs historic.

Now, for the important stuff…

Source: Dogs for Biden

 

196 comments ↓

#1 TurnerNation on 10.01.20 at 3:49 pm

The future? How close are we, now.

1. As noted here first on April 5th, 6 months ago:

#95 TurnerNation on 04.05.20 at 3:02 pm
The reaction? Iran just applied for IMF loans. That’s the long game.
One you see the numbers as being a tool and focus on the long game it all makes sense. Our tele-screens rule our lives and freedom now. Our elites are scolding us for playing outside in the sun. Thus, the numbers must be increased, and the lock down continues.

2. — We are the last generation to know freedom. Children are being indoctrinated into the New System in school, asap.

From May 6th. How close are we?

#201 TurnerNation on 05.07.20 at 8:55 am
The new life in Kanada 2020:

– Wake up in your 350 squarefoot “Smart Condo”
– Eat your delivered breakfast ration and watch the State AM news update.
– You work at home of the banks, one of the few employers remaining.
– Your job there involves garnishing the wages of debtors. Initially you were apprehensive, one garnashee lives in your building even. But as time went on you become quite good at your job; achieving the most files handled per day. Your boss rewards you greatly.
– The corner of your PC screen has the live Covid numbers score. Win-Lost-Tied. You are pleased your Prefecture is keeping its numbers down.
– Evening is your delivered dinner; watching the State news PM update.
– Entertainment tonight is a virtual tour of a really cool place overseas your friend told you. So impressed were you that you made this place your new social media backdrop. It garnered many likes.
– You tend to your virtual anime dog – with its cheeky demeanor ; it has become so needy lately; you consider selling or trading it on the online market place for a more relaxing virtual pet.
– Next week you will vote online, for the Red party of course. They are the best choice as their actions resulted in very few new Covid cases this week.

#2 KLNR on 10.01.20 at 3:56 pm

Trump doesn’t have a dog?
Figures.

#3 mj on 10.01.20 at 3:57 pm

with a second wave, the bank of Canada will have to do more. If they do more, it will just inflate prices higher. Kinda scary

#4 3s on 10.01.20 at 4:07 pm

So the Yanks are gonna inflate the housing market into oblivion but the Chinese dudes never did? Way to go Mr G.

#5 Dolce Vita on 10.01.20 at 4:08 pm

“They’re normally dumped at sea.”

Better than in freezer trucks outside NYC hospital morgues.

————————-

GOOD news.

GDP June to July 2020 +3% and bouncing back.

GETTING THERE news:

July 2020 vs July 2019 GDP -5%.

July 2020 GDP ≈ March 2017 GDP.

A THREE year rollback. Hey a few months ago it was a TEN year rollback.

Call it what you want, I call it PROGRESS.

The Little Economy that Could (and DOES).

#6 akashic record on 10.01.20 at 4:08 pm

Underdogs and alphas don’t need an other dog.

Thousands of Americans were to move to Canada after the dog ate their lunches. Very few did. None of the most vocal ones, with large social media followers. They stayed, with their tails between their legs.

They should all visit though, get fully familiar with Justin Trudeau – possibly before casting vote.

#7 A J on 10.01.20 at 4:18 pm

Where should we set up ‘Little America’ in Toronto like in the Handmaid’s Tale? I vote Parkdale.

Also, in response to some comments yesterday saying people are still voting for Trump, like they did in 2016. Something has come increasingly clear, and maybe it’s just because we’re on a financial blog, but many of these comments centre around MONEY. Nothing matters as long as you’re making money. The President could threaten nuclear war or shoot someone on Fifth Avenue in plain sight and you all would shrug. As long as your bank account swells, nothing else matters. Feel free to play that game and take your chances on four more years of Trump, but I’m telling you right now, there needs to be balance. You can’t have a complete lack of morality and the rich getting richer, and the poor getting poorer, without severe consequences. Ever heard of the French Revolution? Which was sparked in part by complete disregard for the working poor who were starving to death. Fear turned into anger (sound familiar?). You can continue your disregard for other people all you want, but eventually, the scales tip and all hell breaks loose.

You have to care about other people. The population needs to be looked after. People in charge need to keep balance to keep society functioning, happy and peaceful. Everyone is talking about less government, but law and order. Who do you think keeps law and order? The government. So unless you want complete anarchy in your country, stop tipping the scales in that direction. Because you’ll get a good, deep dose of reality these next four years when you get what you asked/voted for.

#8 Rent the Podium on 10.01.20 at 4:21 pm

Slightly off topic, but in previous post Garth you prudently mentioned getting an ISLOC as emergency fund. I tried last week with low 6 figures in investments such as VBAL, e series, etc, no debt, and was denied by [email protected] Initially I had to convince her that this product existed and is in fact advertised. Eventually I was told that stock market is too volatile, and that I should consider margin (yikes!?). Anyway, what sort of profile does one need to get one of these LOCs?

#9 Oakville Rocks! on 10.01.20 at 4:22 pm

You can’t really blame Biden for running such an ad. Especially since Trump apparently hates dogs.

Another difference I suspect: I am pretty sure Biden and his wife still sleep in the same bed so we know President Biden won’t likely be tweeting at 3 AM.

(Okay so I don’t know if Trump & Melania sleep in the same bed it just seems likely they do not given how slow Melania was to relocate to Washington and the numerous times reporters have caught her brushing away his hand when he tries to hold her hand)
A wife who is more present in her husband’s life can be a positive influence if only to keep him from watching Fox news all night.

And on this day, since the video starts with Reagan, it is only appropriate to include a link to this picture:
http://www.presidentialpetmuseum.com/pets/grits/
Happy 96th Birthday President Carter.

#10 Smartalox on 10.01.20 at 4:24 pm

One wonders what the impact of the ‘Turner Effect’ – that is to say, this blog, and associated Instagram posts detailing the bucolic life in Lunenburg – has had on motivating the Upper Canada refugees now pricing the locals out of the Lunenburg real estate market.

#11 YVR Expat on 10.01.20 at 4:25 pm

Where is the government going to get all this tax money to pay for all of this? They’re bankrupting small businesses with covid protocols, resulting in more layoffs, which results in more businesses closing, ad infinitum.

Governments around the world are doing this…. consciously… why?

Will Canada be a third world country in 10 years?

#12 YouKnowWho on 10.01.20 at 4:27 pm

Still don’t have an answer to this basic question – Why pay $11K a month to live in a place you can rent for $3k?

>>
Recently a flyer came to my door. Bijou on Bloor condo.
It said, 1381 sq/ft 3 bdrm ….from $1.7m

https://bijouonbloorcondo.ca

Magnificent building overlooking an ESSO gas station across the street, and positioned on the awkward Jane/Bloor West/South Kingsway busy noisy intersection.

I looked further into it.

If I recall correctly $0.64 per sq/ft monthly maintenance fee, plus $79 maintenance fee monthly for parking and $25 monthly maintenance fee for storage locker. Maintenance fee does not include property taxes. 1% property tax rate assumed.

Quick back of the napkin math.
$8500 monthly for mortgagte on the 1.7m purchase
$1000 for maintenance fees monthly
$1400 for property taxes monthly

About $11,000 a month to live in this 1381 sq/ft condo.

OR, I could go over to Minto High Park properties and rent a luxury 3 bdrm overlooking High Park, with 2 parking spots and a locker for $3000 a month and have $1.7M in my pocket, no debt, be paying $8000 a month less if I needed to borrow. Even if I had the $1.7M to drop on this place, it would still be basically same cost as the awesome rented pad.

Can someone please explain to, like I’m a 5 year-old why would ANYONE pay nearly 4x more to “OWN IT” vs Rent it?

Am I missing something? No Amazonian services claimed with the condo purchase in the flyer I received or on their website. People noted previously the insurance challenges with condos as well.

#13 YouKnowWho on 10.01.20 at 4:29 pm

#1 TurnerNation

WFH is no party.

You hear about the Japanese dudes that have to leave webcam on so manager can see them all the time? How much tracking is going on? Monitoring of activity.

I mean..OBVIOUSLY!

If Facebook can watch you and listen to you all the time to send you ads (apparently) why wouldn’t a company issued laptop monitor all your inputs and activity?

#14 Alberta Ed on 10.01.20 at 4:29 pm

Sadly, Clinton’s First Dog, Buddy, was run over when chasing a car. Not sure Bill is a real dog guy.

#15 Linda on 10.01.20 at 4:31 pm

The possible Yankee refugee invasion might have something to do with the current POTUS race, but I’d bet not a few would be immigrants are attracted to lower coronavirus infection/death numbers, though being ‘dumped at sea’ might give them pause:) In addition, CBC had posted a very interesting interview excerpt last month with a former governor of California, Mr. Brown. In it he indicated that it was very possible that climate refugees from California would try to immigrate to Canada, in the hopes that they would be able to escape the annual BBQ from wildfires. When it was pointed out to Mr. Brown that Canada has also had issues with wildfires, he mentioned that Canada is perceived to have plenty of fresh water. His replies to various questions also indicated that Yankee refugees would be willing to negotiate immigration with Canada, but if push came to shove, they’d just cross over anyway. Brings a whole new meaning to the words of the song ‘This land is your land, this land is my land’.

#16 Smartalox on 10.01.20 at 4:31 pm

Also, given that the Canadian US border is likely to remain closed after Oct 21, and well past November 3rd – or whenever the election is finally decided* the lineup of refugees down Roxham road is sure to be extensive.

* Note: the terms in office of the current president and vice president end at noon on inauguration day. If the results of the election are still unresolved at that time, the order of US presidential succession means that the speaker of the House of Representatives assumes the presidency. Just FYI.

#17 Dolce Vita on 10.01.20 at 4:34 pm

Well, it’s official.

Venerable, rock solid Deutsche Welle praising Italia on keeping cases down in a very recent news video (this after El País, Le Figaro and Boris being told why not like Italia in the UK Parliament).

It’s NEVER official until Deutschland says it is. And it is now. So, lucky us.

Sadly, today our cases shot up a little…I’d say premature praise but still WAY BETTER than the other 3 Europeans of the G7. Merkel forecasting 19,200 cases by Christmas if more restrictions are not imposed. Spain and France still basket cases in terms of high cases…so sad to me. UK somewhere in between Deutschland and Spain/France.

Italia’s GDP revised to -9% from the -11% of a few weeks ago, hey that’s almost like Sweden’s -8.3%, you know the COVID Miracle Economy.

TRAVEL TIP:

Fly to Fiumicino Airport, Roma if coming to Italia. If they find you with a temperature or exhibit symptoms…they will move you to a test area and you can be on your way in under 30 minutes.

Alitalia is going to start COVID free flights, all aboard having been tested before flying.

—————————

WHAT a crazy messed up World it has become including LUNENBURG RE, save you My Liege.

As for Americans…stop obsessing over them Canada, you are not THEM nor will you ever be and THAT is a good thing.

#18 Editrix on 10.01.20 at 4:37 pm

I would have like to have seen FDR and Fala in the clip, but the producers were going modern.

When American celebrities say they will move to Canada because of Trump, they’re always blowing hot air. (Bryan Cranston, I’m looking at you.)

#19 Cottagers STAY THE HELL AWAY! on 10.01.20 at 4:38 pm

“And the little 2,000-soul touristy puddle where my baby bank-by-the-sea building is located? Listings are snapped in a couple of days. Prices in the ‘old town’ have risen 40% in a year. Unprecedented. Most buyers are online FaceTimers. The locals are being shut out. Again. First Americans and Airbnb were the scourge. Now it’s those damn Upper Canadian refugees.”

So true.

Inbred southern hillbillies are the scourge of Lunenburg, Muskoka, the Kawarthas and EVERYWHERE they extend their parasitic tentacles.

We DON’T need you in our counties.

Just.

Stay.

Home.

#20 Billy Buoy on 10.01.20 at 4:39 pm

That “impressive” savings rate both countries have is starting to drop lower now a majority of STIMULUS is gone or lessening.

I wonder if all the banks and landlords are wondering what % of mortgage holders and renters have the cash to pay when payments resume sooner or later?

Let’s see the savings rate then.

Watch out below and pray for more STIMULUS.

#21 Rainman on 10.01.20 at 4:39 pm

Sounds like you are convincing yourself that RE is as much a slam dunk as it could be.
So much other immigration is going to flood in once this covid thing is done too.
thanks for the reassurance. :)

#22 Dogman01 on 10.01.20 at 4:40 pm

A blog dog put me onto this site: https://wtfhappenedin1971.com/

“expansionary monetary policy artificially drives up the replacement cost of assets. Thus a disproportionate share of aggregate income makes its way to those with either enough pre-existing capital to afford a large distribution of inflation prone assets. it is also disproportionately punishes wage earners, on a year by year basis, the nominal value of their wages might increase, the real value of their purchasing power is eroded “
https://wtf1971.com/2020/09/26/73-income-inequality-and-inflation/

So Wage earners are on a steep decline;
– Competing against more labour supply, via Globalization & Immigration
– Less global demand for “workers” – via Technology
– The “Red Queen” problem of wages up against Inflation

Resulting in an increasing difficulty to acquire any surplus via work limiting ability to then purchase Capital assets and get ahead.

I would hate to be a 20 year old in Canada’s economy today, without an inheritance or in the top 10% of the success traits “bell curve” they are screwed, Piketty is very accurate.

People who are screwed and then realize it demand change one way or another.

#23 Handsome Ned on 10.01.20 at 4:44 pm

The leader of the National Socialist party in Germany loved his dogs and a vegan to boot.

#24 Doug t on 10.01.20 at 4:46 pm

I have an aunt in Massachusetts- love her but believe me you do not want her here lol

#25 Felix on 10.01.20 at 4:51 pm

But Trump is still the most dogawful president in history.

#26 R on 10.01.20 at 4:51 pm

I would like to see the next debates managed with microphone timers . Say one/two mins per side, while one is on, the other is off. Just explain, these are now the rules ahead of the debate, so everything is fair. A question is asked by the moderator, then each side has one/two mins to discuss their position uninterrupted .

#27 blogshark on 10.01.20 at 4:54 pm

#23 Handsome Ned on 10.01.20 at 4:44 pm

No, Hitler was not a Vegan. Look, Vegans do enough stupid things on their own to make fun of them, you don’t need to make Vegans look good by making stupid accusations like those that don’t hold up, at all.

#28 Mr Canada on 10.01.20 at 4:59 pm

We have short memories. When George W was elected, all the Hollywood elites promised to move, remember Alex Baldwin ? Then 20+ more promised to move when Trump was elected, and Canada was at the top of the search again. From Woopi, Cher, Nev, Miley, Streisand even jurist Ginsberg. They all stayed of course. Why? Most were just looking for attention, the others spoke to their accountants and they replied: are you nuts ?

#29 Guillaume on 10.01.20 at 5:02 pm

Biden sniffing dog’s hair….

#30 Stone on 10.01.20 at 5:05 pm

#2 KLNR on 10.01.20 at 3:56 pm
Trump doesn’t have a dog?
Figures.

———

What dog would want him? They know what evil smells like.

#31 belly rubs on 10.01.20 at 5:08 pm

#11 YVR Expat on 10.01.20 at 4:25 pm

Governments around the world are doing this…. consciously… why?

Will Canada be a third world country in 10 years?

It’s an opportunity to create post-nation states. Ie, Brussels sets your utility bill. I believe $400 million in CDN tax dollars was just pledged internationally, “to Trusted Partners on the ground fighting COVID-19.” Global initiatives plod along.

#32 Dolce Vita on 10.01.20 at 5:11 pm

Watching Cdn MSM and reading Twitter about the whole debate about ON, PQ lockdowns.

Look it, the Maritime Provinces (the “Bubble”) are doing what Italia did from March to May. Inter Regional travel was verboten. I live in the FVG region. I could not go for my passeggiate in Venezia since it was in the Veneto region.

It worked. It was strictly enforced by the Carabinieri and Polizia, hefty € fines. If you let symptomatic people gallivant all over the place as they please, it never ends.

During that period, as the regional travel was lifted. E.g., I could go visit another region as long as its Rt was similar and both with an Rt < 1 not higher. It worked.

The other thing they are doing here in Italia is rapid testing, results in under 30 minutes for the whole process and contact tracing like crazy…if you are symptomatic, that day they will test your family, fellow workers and friends whether you came in contact with them or not…with rapid test results.

And then we have had the Immuni app for months now. I never go anywhere without it and it is not intrusive. It helps with contact tracing.

Premier Ford has said they are hiring 1000 more contact tracers, good idea (and late to the table). Locking the Province down…probably unnecessary. Just look at the Maritime Provinces and the former COVID pariah Italia and learn instead.

Quebec saying they will go to regional travel restrictions, a good idea. Nothing about contact tracing like crazy.

I hate to say it but ON and PQ asleep at the wheel here along with Gov Canada on rapid testing, crazy contact tracing.

Learn from the Maritime Provinces instead or that former COVID Pariah in Europe.

And STOP relying on good will (are you listening BC and AB?). Start enforcing with belligerents. They will never learn unless there is a hole in their pocket…word gets around when that happens. Tends to change behaviour in the "it's all about me" misanthrope crowd.

#33 The Woosh on 10.01.20 at 5:11 pm

“Now it’s those damn Upper Canadian refugees.”

——————————————

And they be paying for those lovely properties with beaver pelts is my guess!! Lol

#34 Flop... on 10.01.20 at 5:22 pm

What’s Europe got going for it economics wise?

Well, if you take the Fanga Boys out of the equation then they don’t seem to be doing that bad market cap wise.

From the article:

Food, Drink and Tobacco grouping.

Nestle,Europe 339B

Coca-Cola, U.S 209B

—————–

Drugs and Biotechnology.

Roche, Europe, 308B

Johnson and Johnson, US, 392B

Plus there is a guy in a small village in Italy that makes millions a year selling fear porn…

M46BC

The Largest Brands of the World 2020.

“Market capitalization is one of the best ways to easily measure a company’s value. First, figure out how many shares a company has on the stock market. Then, multiply that by the price of the stock. As the share price rises and falls throughout the year, the company’s total value also moves up and down. And the 100 most valuable companies in the world aren’t all high-flying tech companies, as our latest visualization makes clear.

One of the most obvious insights from our visual is just how dominant the American economy is in producing large mega corporations with enormous market capitalizations. The US boasts three companies with a total value of over $1T, including Apple ($1.9T), Microsoft ($1.5T) and Amazon ($1.5T). There are also several notable companies worth several hundreds of billions of dollars, like Alphabet which owns Google ($969B) and Facebook ($711B). In fact, there are only two companies from China in the top 10, Alibaba ($729B) and Tencent Holdings ($637B). That being said, Asia has more collective market cap than Europe across the top 100 companies in the world thanks in large part to Saudi Aramco ($1.8T). We should also note how both South America and Africa are entirely missing because neither continent has any company with a market cap in the top 100.

Another way to look at our visual is to slice it by industry. There is a lot of diversity across North America, with the largest tech companies balanced by a variety of other industries. Johnson & Johnson ($392B) is a major player in the drug and biotechnology industry. Walmart ($387B) and Home Depot ($299B) are the giants in physical retail. There’s also a collection of American banks, financial services, healthcare and restaurant chains too. Compare that to the relative lack of diversity across Asia, where an oil company dominates, followed by banks and only one or two companies from a couple other industries. Clearly the US economy not only produces more mega-winners overall, but scale and size are spread across industries too.”

https://howmuch.net/articles/biggest-brands-of-the-world-2020

#35 crowdedelevatorfartz on 10.01.20 at 5:29 pm

@#30 Stone
“What dog would want him? They know what evil smells like…”

+++++

Cabbage?

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

#36 belly rubs on 10.01.20 at 5:39 pm

#12 YouKnowWho on 10.01.20 at 4:27 pm
Still don’t have an answer to this basic question – Why pay $11K a month to live in a place you can rent for $3k?…
Can someone please explain to, like I’m a 5 year-old why would ANYONE pay nearly 4x more to “OWN IT” vs Rent it?

—-

$11k/mo is a placeholder, it covers the carrying charges to make a return on the $1.7million (if/when you sell the asset for a “tax free profit”.) Instead, you could just rent and buy shares in the bank, but you would be taxed on the return. That you can live in the asset is considered a bonus. People believe they will make back the costs when they sell. They are probably hoping for 30% yoy.

Short form: it takes money to make money.

#37 an investor on 10.01.20 at 5:39 pm

Once Trump is re-elected in another landslide victory on November 3’rd, you can expect that a massive number of Canadians will be moving south to escape the tyranny of the Trudeau government. Trump is good for investors. Trump is good for America.

#38 kappa on 10.01.20 at 5:40 pm

” A single new case in NS, for example, is a rare thing. They’re normally dumped at sea. But one guy escaped and is in hospital at the moment. ”

LOL. That made my day.

#39 kappa on 10.01.20 at 5:49 pm

I don’t think Americans actually want to move to Canada. They say that just to show how much they are discontent with Trump :) . What they don’t realize is that by doing so they are showing their lows regard to Canada :) OK, that’s one way to put it :)
Not sure what made Americans think they’d be welcome them here :)

#40 Emo on 10.01.20 at 5:50 pm

Canada is only good for Justin Trudeau and his screaming lady fans. Even Justin Bieber had to migrate to the USA.

#41 Bartman on 10.01.20 at 5:52 pm

We have given you a Republic. Now see if you can keep it.
It only took five thousand years. God bless America.

#42 akashic record on 10.01.20 at 5:53 pm

#23 Handsome Ned on 10.01.20 at 4:44 pm

The leader of the National Socialist party in Germany loved his dogs and a vegan to boot.

He also took a bath 4 times a day!

Jordan Peterson talks in 2017, that according to a 2014-study, the higher the prevalence of infections diseases, the higher the probability of totalitarian political attitudes.

We just have to look around what’s happening right around us and around the world to observe it.

https://www.youtube.com/watch?v=XBu6xI1iUM0

#43 jla on 10.01.20 at 5:57 pm

Question please, Garth.

With many countries printing money at insane levels (ie US infusing about 30% more cash into its economy), when does inflation start to kick in? Or will it? Seems like we’re in uncharted territory.

TY

#44 Penny Henny on 10.01.20 at 6:04 pm

#17 Dolce Vita on 10.01.20 at 4:34 pm

Italia’s GDP revised to -9% from the -11% of a few weeks ago, hey that’s almost like Sweden’s -8.3%, you know the COVID Miracle Economy.
////////////////

Sweden’s showing 583/ deaths per million compared to Italy’s 594.
Looks like they are doing better in that regard too.

#45 Sail Away on 10.01.20 at 6:05 pm

Wow, I was an early adopter!

We drove down from Alaska in 2006 with dogs, guns, kids in UHaul as wife had just gotten a position with the Ministry. Entered on skilled worker visa and the rest is history. I guess Harper was the Canadian president?

#46 Sounds to me like ... on 10.01.20 at 6:06 pm

another opportunity for the boomers to run over the Millenials.

#47 Piano_Man87 on 10.01.20 at 6:10 pm

Didn’t people use to pay mortgages off faster in the 1980’s as well? Because interest rates were so high?

That would mean home prices are considerably higher today. Slightly higher average carrying cost adjusted for inflation, lasting much, much longer.

#48 justdeleteitifyoudontlikeit on 10.01.20 at 6:11 pm

It’s hilarious in a sick, sick way that we’re talking about reorganizing a debate to solve for a participant who can’t even hold his tongue for two minutes to let the other guy speak, because we think he might be qualified to be leader of the free world and commander of a nuclear military.

This is what he does on TV in front of undecided voters and the world. Is he better behaved at the cabinet table or in the situation room? Or at the breakfast table or in the bedroom? He says he’s not on drugs. MAYBE HE SHOULD BE.

#49 crossbordershopper on 10.01.20 at 6:13 pm

yes, once and a while some people in America are so disgruntled that they think that moving to Canada would be a good thing. Then they have a cheap drink, and shake there head and said wow, that was a bad dream, back to reality of which line is better to live in. It might rains once and a while, sure but that’s not a reason to move.

#50 Damifino on 10.01.20 at 6:17 pm

Something you never hear an American say…

“That does it! I’m moving to Mexico.”

#51 Nothing Surprises on 10.01.20 at 6:19 pm

Our friends in Ohio and Michigan tell us the ASPCA has a life ban on the Trump family from owning any type of live pet!

#52 YouKnowWho on 10.01.20 at 6:20 pm

#17 Dolce Vita

I see you writing about the numbers regularly. A thought crossed my mind.

None of these numbers are audited. They could be made up and no one would know any better. There is no validation method. No recount ability. No independent audit.

#53 Tom Diona on 10.01.20 at 6:24 pm

For Toronto it does not make a difference because they all vote Liberal, NDP anyway. It will be wasted votes.

#54 Asterix1 on 10.01.20 at 6:26 pm

The Toronto Real Estate Ponzi scheme needs one very important item to keep working. The constant gorging of PEOPLE!

Yet the virus has changed all of this:
– Immigration down by 70%.
– Inter and Intra provincial migration is still happening.
– Virus has increased this mouvement out of town.
– Recession will limit new workers from arriving.
– Less students arriving.

GTA population will drop as a result. Condo completions and locals trying to sell their properties will continue. Crickets will quickly be heard!

#55 Lorne on 10.01.20 at 6:27 pm

#37 an investor on 10.01.20 at 5:39 pm
Once Trump is re-elected in another landslide victory on November 3’rd, you can expect that a massive number of Canadians will be moving south to escape the tyranny of the Trudeau government. Trump is good for investors. Trump is good for America.
……..
You really are living in a dreamworld! Hope you are one to join the crowd and move south..enjoy!

#56 Joseph R. on 10.01.20 at 6:31 pm

#25 Felix on 10.01.20 at 4:51 pm
But Trump is still the most dogawful president in history.

—————————————————————

You will be happy to learn that the Clintons had a cat named Socks. He was in charge of the country while his master was put in the doghouse.

Here is a picture of him answering the Press:

https://s3.thingpic.com/images/wg/jeSYrpLCgK3xbmkWS6GEq93F.jpeg

#57 YouKnowWho on 10.01.20 at 6:33 pm

I hear they want to be able to cut the mic of the President at next debate? Is there truth to this?

Are you kidding me? If I was Trump I would not come to the debate if my mic could be cut. Even if you don’t like it, you don’t cut the President’s mic!

#58 Hawk on 10.01.20 at 6:40 pm

#7 A J on 10.01.20 at 4:18 pm

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

Everything you claimed in your post about inequalities in America, would worsen under Biden or another democrat.

Quite simply, because the government spending spigot, as bad as it has been under Trump, ——(and it’s been really bad) ——would still be worse under Biden. Now if America had chosen Ron Paul eight years ago, it would have been different. But between the binary choice, as it now exists, there is no question, as to who’ll impoverish America more…….and much faster.

And fewer corporations and businesses would stick around.

I recommend watch some of Peter Schiff’s podcasts to get an understanding of how real life and the economy should work as opposed to the incredible mismanagement that Big Government has foisted upon us for the last several decades.

#59 KNOW IT ALL on 10.01.20 at 6:43 pm

OK KNOW I’M CONVINCED…..

trump is OUT!!!

#60 willworkforpickles on 10.01.20 at 6:56 pm

Without ever having lived in Canada at some time before, very few Americans will ever move to Canada to stay now…very much easier said than done these days also.
The old days are gone.

#61 domain on 10.01.20 at 6:57 pm

Yep, math can be a pain.

Payments, aka affordability are constant unless one gets a second job or earns more (a sin in Canuckistan).

Payments are a flat line (Axis), and principle and interest pivot inverse of one another a round the axis which is payments.

The 18% boost in nation-wide prices is 100% due to rates, and if you back-calculate the difference in principle with payments constant, using the Canada Chartered Banks Prime lending rate, they went from 3.95 to 2.45%, which results in an increase in principe of 18%.

Not an indication of a robust RE market but the consequence of math and governments trying boost the economy with rates. You just boost the debt and hurt the economy, and then everyone cries that RE is unaffordable without knowing why.

Reminds me of Keynes quote about overturning a society by debauching the currency, and how not one in a million can diagnose it’s true cause.

#62 YouKnowWho on 10.01.20 at 6:59 pm

DELETED

#63 crowdedelevatorfartz on 10.01.20 at 7:01 pm

@#50 Damfino
“Something you never hear an American say…
“That does it! I’m moving to Mexico.”

++++

But they may say, ” That does it! I’m moving back home to Mexico…”

#64 Sunnyways on 10.01.20 at 7:05 pm

Oh look the death rate is still flat. Like flat as a pancake. Flatter then the flat provinces.
Imagine my surprise.
https://www.google.com/search?source=hp&ei=aF92X-uIG9X4-wSn_rrACQ&q=covid+death+rate&oq=covid+death+rate&gs_lcp=ChFtb2JpbGUtZ3dzLXdpei1ocBADMgIIADIFCAAQsQMyAggAMggIABCxAxCDATIFCAAQsQMyAggAMgIIADICCAA6CAguELEDEIMBUPEMWK4jYOwpaABwAHgBgAGOBIgBmBCSAQwxMC4zLjEuMS4wLjGYAQCgAQGwAQA&sclient=mobile-gws-wiz-hp

There was never any going back on this. No politician is going to stand on the podium and say “aww geez I’m really sorry but we destroyed your lives for nothing. We destroyed your retirement for nothing. We destroyed your businesses and you arts and cultural institutions for nothing. Sorry bout that. I’m really sorry. We are all really really super sorry. Don’t forget to vote Liberal please.”

No there will be no apologies. There will be no acknowledgement that this was handled wrong.
Double down, triple down etc etc etc forever.
All curves must be flat. Pandemic emergency rules until a cure for death is found.

#65 Rent is Cheap Boris on 10.01.20 at 7:07 pm

Keep on Renting.
You are getting richer while everyone who owns is getting poorer.
Compare your net worth to theirs.
Numbers on paper mean nothing until it is cash in the bank.

#66 crowdedelevatorfartz on 10.01.20 at 7:18 pm

@#57 You know Hoo
” Even if you don’t like it, you don’t cut the President’s mic!”

++++
We’ll only cut him off when he constantly interrupts with nasty lies and personal attacks………

He’ll be allowed to answer direct questions with facts.
he’ll be allowed to reply to Biden’s criticism’s of his administration when it is his turn to speak.
He cannot become personal or tell falsehoods…

We hope the debate will run the full 90 minutes…
errrr, I guess we better not cut his mic…..

#67 I believe everything on television on 10.01.20 at 7:23 pm

Ford doesn’t want Americans here. He prefers easy targets:
geriatrics, check
children, check
temporary farm workers, check
Indigenous peoples, check

who’s next? Mennonites? they don’t watch television.

#68 -=withwings=- on 10.01.20 at 7:31 pm

What a night

@#4 yesterday

Trump is a vote for himself first.
Oil and coal are forever.
He doesn’t believe in Man made Global warming changed to Climate change

Biden is a vote for the anyone except the Trump family.
Oil was great, is hurting us, and we can and should be replacing it
Yes man did cause Global warming changed to Climate change.

@#1 today
Swap out “state media” for “fox news” and you pretty much have America, today and a perfect description of a typical Trump day. Plus golf.

@#12 because the condo is increasing in value way more than 11k a month. Sell it in 3 years for 2.9M (AGR 20%) you spent 400k to live there and walked away with over 1M in your pocket. Who wouldn’t want to do that?

@#64 Sunnways – why dont you switch that graph to USA to see why we did what we did….

#69 YouKnowWho on 10.01.20 at 7:32 pm

#62 YouKnowWho on 10.01.20 at 6:59 pm
DELETED

Too much truth about dog ownership Garth? No swear words. Just questioning why dog owners feel so superior? I bet solid 50% of dog owners get dogs for image reasons, and who suffers? That’s right – dog.

I think good dog owners don’t advocate nearly enough the responsibility of dog ownership so that the animals are cared for. Who left all those dogs in the pound to be put to sleep? Oh…I see.

#70 John in Mtl on 10.01.20 at 7:33 pm

I would rather own than rent. Rents just keep going up and up, every year because “everything goes up”. All I have is a good 6 figure portfolio.

At least with a house, you have a tangible asset whereas those with only financial assets might lose big time if the currency gets devalued, becomes worthless or if inflation takes off in double-digits. You can live in a house, you can’t live in a portfolio.

Who knows what the future holds with this damn virus and all the rearrangements we had to do in order to make do with our collective situation.

#71 Cow Man on 10.01.20 at 7:39 pm

Sir Garth:

First Campbellville, then Belfountain and now Lunnenburg. Where the Honourable Garth Turner invests, real estate speculators follow.

#72 willworkforpickles on 10.01.20 at 7:44 pm

#19 Cottagers S T H A
…swing your partner/s dosey doe

#73 WTF on 10.01.20 at 7:46 pm

GT: Slight overreach on Halifax Pop as stated 600k

The current metro area population of Halifax in 2020 is 413,000, a 0.49% increase from 2019.

Ya I know, nitpicking. guilty. Of course with all those come from aways dumping their overpriced shacks in the middle east (ont) it could become 600k……

#74 Nonplused on 10.01.20 at 7:46 pm

“But look at this. If just 1% of Americans moved here, that would soak up about two million houses. In all of 2019, right across all of Canada, only 458,500 property transactions took place – and prices still went up.”

And what’s worse is that most of them would be headed for Toronto or Vancouver.

Anyway I seriously doubt very many Americans will want to move here after they get a look at our tax rates and lack of employment opportunities. I know way more Canadians living in the US for work reasons than I know Americans living in Canada. It is particularly common among oil patch workers, engineers, and software developers.

If they do come, it’ll be mostly the SJW types who can’t wait 4 more years until Trump has to leave office either way. That won’t do us any good economically. And then what happens in 2024? Will they all move home? Presidents aren’t forever.

————————————–

Read an interesting article on scientific discovery and investment:

https://www.zerohedge.com/economics/urban-exodus-yes-they-will-come-back-no-they-wont

I like the line at the end:

“In the limit, if innovation is fast enough, we are driven to say that if it is now possible that something can happen, it must happen.”

#75 YouKnowWho on 10.01.20 at 7:46 pm

#66 crowdedelevatorfartz

This man has the nuclear codes!

YOU DO NOT CUT THE PRESIDENT’S MIC!

Doesn’t matter what he is saying or to whom. Judge him by his behaviour, but you DO NOT get to cut his mic.

Seriously, the post of the POTUS must be respected, even if the man may not be.

#76 crowdedelevatorfartz on 10.01.20 at 7:49 pm

The next Presidential Debate in Oct 15 in Miami.

How much do you want to bet.
No matter how many people said they were disgusted with the 1st debate….
Twice as many people will watch the second debate.

A slow motion train wreck that you cant look away from…..
:)

#77 the Jaguar on 10.01.20 at 7:58 pm

+++#23 Handsome Ned on 10.01.20 at 4:44 pm+++

That was very clever and Felix is going to be beside himself for not thinking of it earlier…

#78 AACI Homedog on 10.01.20 at 8:04 pm

Let’s see…we can only go down there 6 months per year, but they are free to move up here full time ?

#79 baloney Sandwitch on 10.01.20 at 8:04 pm

Trump eats puppies.

#80 Dwight Botnen on 10.01.20 at 8:07 pm

When he starts to interrupt, be rude or insult, cut off his mic. Definitely. And btw, let’s make a deal with Americans: we won’t move to your country and you don’t even think about bringing your guns, racism and lack of health care to Canada. Visit? Sure. Move here? Definitely not.

#81 belly rubs on 10.01.20 at 8:13 pm

#46 Sounds to me like … on 10.01.20 at 6:06 pm
another opportunity for the boomers to run over the Millenials.

The wealthy don’t think in terms of us vs them, just politicians and agitators do. Your concern should be building a multigenerational trust and pooling the resources, energy, and wisdom of your extended household. If you are altruistic, expand your reach to include worthy causes.

#82 SoggyShorts on 10.01.20 at 8:16 pm

#69 YouKnowWho on 10.01.20 at 7:32 pm
#62 YouKnowWho on 10.01.20 at 6:59 pm
I bet solid 50% of dog owners get dogs for image reasons, and who suffers? That’s right – dog.
***************************
That sounds like the worst bet I’ve ever seen on this blog.

“50% of people who own dogs got them because they look cool?”

Have you ever even had a pet? Pet a dog? Played fetch?
Maybe, and I think I’m being generous, you meant 5%?

#83 Doug t on 10.01.20 at 8:19 pm

#80

Um we have PLENTY of racism here ourselves

#84 Drill Baby Drill on 10.01.20 at 8:21 pm

I do not want O’Tool to become PM just yet. I want our poor excuse of a PM to wear this upcoming debt fiasco around his neck.

#85 Tripp on 10.01.20 at 8:22 pm

Four years ago, dozens of dramatic, righteous, self-absorbed, omniscient celebrities swore to their dog they will move to Canada if the Unthinkable Disaster happens.

After checking on the housing costs and taxation rate up here, none of them did. Won’t be any different this time.

#86 crowdedelevatorfartz on 10.01.20 at 8:27 pm

Hmmmm

Donald Trump Jr’s girlfriend is a campaign fundraiser for Daddy AND was let go from Fox news for allegations of….. sexually harrassing……… women…….

https://t.co/0kvnc3UPUz

#87 Steven Nicolle on 10.01.20 at 8:30 pm

Loved the video!

#88 Flop... on 10.01.20 at 8:31 pm

B.C Liberals must be happy to stay in opposition.

We have a snap election, ( my favourite kind, get it over and done with) and they start off with attack advertising.

Just show us what you are going to do differently and perhaps better.

Then in the second ad, they had to subtitle it because Mumble Guts Wilkinson is too hard to understand.

I’ve got a better chance of becoming the first Australian/Canadian to lead British Columbia than this guy.

I couldn’t do anymore damage, surely?

I would allow Australia to officially annex Whistler as my first point of business.

These guys have got just as stupid ideas.

Province would be stuffed either way…

M46BC

#89 Stone on 10.01.20 at 8:42 pm

#80 Dwight Botnen on 10.01.20 at 8:07 pm
When he starts to interrupt, be rude or insult, cut off his mic. Definitely. And btw, let’s make a deal with Americans: we won’t move to your country and you don’t even think about bringing your guns, racism and lack of health care to Canada. Visit? Sure. Move here? Definitely not.

———

Visit? Nah. It’s actually nice not having all the selfie taking tourists around. I’d prefer this to become permanent.

It might actually make Canadians, Dog forbid…innovate.

#90 Sail Away on 10.01.20 at 8:54 pm

#78 AACI Homedog on 10.01.20 at 8:04 pm

Let’s see…we can only go down there 6 months per year, but they are free to move up here full time ?

———-

One should never mistake a choice for a requirement. You can most assuredly and legally visit the US for more than 6 months in a year.

Now, you might need to file a US tax return and lose your Canadian healthcare, but in the end it is a choice.

#91 Chester in fall on 10.01.20 at 9:02 pm

#75

“””This man has the nuclear codes!

YOU DO NOT CUT THE PRESIDENT’S MIC!””””

I think he loves his children, so would not matter.

Do the Chinese love their children?

#92 Midnights on 10.01.20 at 9:03 pm

2 KLNR on 10.01.20 at 3:56 pm
Trump doesn’t have a dog?
Figures

When’s the last time you seen Obama’s dog in pic’s, lol. Nice photo op at the time.

#93 DON on 10.01.20 at 9:06 pm

@Sail away

I agree – it only matters what the silent majority of Americans think about Trump. It is all about their day to day priorities. Not a fan of either Trump or Biden… Intetesting info on fox news. Trump is more entertaining.

#94 Barb on 10.01.20 at 9:07 pm

Americans won’t move to Canada. That’s where all the Polar Vortexes originate.

Oh…forgot the draft dodgers during Vietnam.
Oh oh! (North Korea?)

#95 Paul on 10.01.20 at 9:08 pm

#80 Dwight Botnen on 10.01.20 at 8:07 pm
When he starts to interrupt, be rude or insult, cut off his mic. Definitely. And btw, let’s make a deal with Americans: we won’t move to your country and you don’t even think about bringing your guns, racism and lack of health care to Canada. Visit? Sure. Move here? Definitely not.
————————————————————————————————
Aren’t we all high and mighty ,watch you don’t fall off you pedestal !

#96 YouKnowWho on 10.01.20 at 9:11 pm

#36 belly rubs

#68 -=withwings=-

So I would pay 4x what it would cost me to rent same space in better geographic location with better view on the hope that someone else will pay me back the 4x more I paid…plus? Good investment strategy.

Also…do you know you just suggested a Bloor and Jane 1300sqft condo would be worth 2.9m ina few years? It doesn’t seem at all crazy to you? I’m really starting to believe the laundering bit. Maybe that’s really Canada’s #1 economic contribution? We’re the world’s dry cleaner!

#76 crowdedelevatorfartz

Of course we’ll watch! No hockey. NBA will end. Although Buffalo will play KC – so there is that option. Ballsy of NFL to keep the game on.

#97 Midnights on 10.01.20 at 9:23 pm

Hey Italia, here’s a podcast for you, which speaks upon Italy.
Covid 19 Induced Poverty – Dr. Ted Noel #4921 from Financial Survival Network on Apple Podcasts. https://podcasts.apple.com/ca/podcast/financial-survival-network/id960041122?i=1000493225240

#98 Steven Rowlandson on 10.01.20 at 9:24 pm

It might not be a wise idea for Americans to move to Canada in the light of the following.

https://www.iceagenow.info/now-descending-into-an-ice-age-video/

It might also be wise for Canadians to sit up and consider the implications of the above web page and set aside their it can’t happen in my life time attitude.

#99 crowdedelevatorfartz on 10.01.20 at 9:47 pm

Unemployment UP in Europe for the 5th consecutive month…….

https://wcfcourier.com/news/world/unemployment-in-europe-rises-for-5th-consecutive-month-in-august-reaching-8-1-in-eurozone/article_2311b757-d3cd-5729-84ec-a93ad58f5c35.html?mode=comments

#100 truefacts on 10.01.20 at 9:59 pm

Just a simple observation…Why do so many posters here seem to be so anti-American? I’ve travelled extensively in the US and most people I’ve met have been great! If Canada were geographically situated in most other continents, we would have been taken over by now – but we’re not – thanks to the US. We consume American products, technolgy, media…the list goes on – why do that if you have such a low opinion of the country?
I’m not saying the US is perfect – they definately have their problems, but the constant putting down of the US almost seems like an inferiority complex masked by some sort of false superiority image.

#101 SomeDude on 10.01.20 at 10:02 pm

#98

Forget global warming….that’s for plebs. What’s really happening is global cooling!

#102 Doug in London on 10.01.20 at 10:03 pm

Americans wanting to move to Canada you say? Last year I was at a family reunion. One of my cousins who was born in Canada, went to the University of Waterloo, got a degree in physics, and ultimately he got a good paying job in Indiana. He’s done very well for himself there. I asked him if he ever plans to come back to Canada and he said: that all depends who’s in the White House after 2020. He’s not a fan of Trump at all, something you see a lot among a lot of educated people. He said that if you want to make America great again, the first thing you need to do is get rid of Trump. I could see people like him, who have dual citizenship making the move to Canada. For others, it won’t be as easy but I’m sure may will apply. Will we get swamped by immigrants from The States? We shall see, don’t rule it out.

#103 El Presidente on 10.01.20 at 10:03 pm

The RONA is getting closer…………would calm the markets down.

https://nationalpost.com/news/world/hope-hicks-aide-who-travelled-with-donald-trump-to-presidential-debate-tests-positive-for-covid-19

#104 Doug in London on 10.01.20 at 10:09 pm

@Dwight Botnen, post #80:
I think any Americans willing to move here are quite willing to leave the guns, racism and lack of health care for everyone behind. I know I would.

#105 Victor V on 10.01.20 at 10:10 pm

Unable to sell condo, need funds from sale to close on house that I purchased: https://www.reddit.com/r/TorontoRealEstate/comments/j3d1mp/unable_to_sell_condo_need_funds_from_sale_to

#106 Frank N Beans on 10.01.20 at 10:11 pm

Holy abbreviation-o-tron I need to take a side course just to catch onto all the short forms you put into this post. I can tell you’ve had your fair share of government briefing notes with all your abbreviatos, bro. Good thing I follow you or I’d be left in the dust. I’ll start a glossary of terms on your behalf. [email protected] was the first one that stumped me for a while. Today: SJW, NWT, WFH, NS, GTA
AF

#107 AM in MN on 10.01.20 at 10:14 pm

#7 A J on 10.01.20 at 4:18 pm
Where should we set up ‘Little America’ in Toronto like in the Handmaid’s Tale? I vote Parkdale.

Also, in response to some comments yesterday saying people are still voting for Trump, like they did in 2016. Something has come increasingly clear, and maybe it’s just because we’re on a financial blog, but many of these comments centre around MONEY. Nothing matters as long as you’re making money. The President could threaten nuclear war or shoot someone on Fifth Avenue in plain sight and you all would shrug. As long as your bank account swells, nothing else matters. Feel free to play that game and take your chances on four more years of Trump, but I’m telling you right now, there needs to be balance. You can’t have a complete lack of morality and the rich getting richer, and the poor getting poorer, without severe consequences. Ever heard of the French Revolution? Which was sparked in part by complete disregard for the working poor who were starving to death. Fear turned into anger (sound familiar?). You can continue your disregard for other people all you want, but eventually, the scales tip and all hell breaks loose.

You have to care about other people. The population needs to be looked after. People in charge need to keep balance to keep society functioning, happy and peaceful. Everyone is talking about less government, but law and order. Who do you think keeps law and order? The government. So unless you want complete anarchy in your country, stop tipping the scales in that direction. Because you’ll get a good, deep dose of reality these next four years when you get what you asked/voted for.

————————————————-

Such a lack of understanding from the other side….

As far as money is concerned, much of the disparities caused over the last decades are because of central banks. They print money, backed up by force if you try and use something else, and lend it to insiders and the favoured class at lower than the market rate would be for honest money.

This does two things, it devalues your paycheck, which is the primary asset of the majority of the people, and gives the money class an edge to become your landlord or own the business you work for, and continue your serfdom.

Trump understood this because he profited off it and he had a front row seat for years watching Wall St. financialize the US economy while workers suffered.

The racket often works something like this; The banksters buy a controlling share in a company with money borrowed or supplied by investors. Once in control of the board, they force the company to borrow huge amounts to pay dividends or buy back some of the outstanding shares, delivering a huge return to the investors. They can borrow more than a free market would allow (sound money) because of printed money. Often they strip the assets, like buildings and land, for more money before telling the workers that the company isn’t profitable enough any more and they can’t have a raise to make up for their devalued paycheques.

It gets better. When a downturn hits they lay off workers, or close it up and don’t provide the pensions promised. Then they move on to the next target.

This is how the establishment plays the game. It takes an army of $800/hr. lawyers and 3% fee bankers to pull it off. They take some of that money and buy themselves politicians and lobbyists on both sides of the isle to keep the racket going.

It also involves offshoring the manufacturing while keeping the sales arms of the companies to sell the cheap imports from places like China.

Trump explained it quite well in 2016. Even if the details went over the heads of many, he understood it well and wanted to change it.

He also understood how the tax appetite of so many levels of government hurt private sector business and their workers. This leads to resentment as the govt. workers start to vastly out-earn the private workers.

He underestimated how hard those at the top would fight his reforms. Check out all the swamp creatures profiting from connections to China who are working so hard to remove him, especially all the 4-star generals like Mattis and McChristal. Look at the explosion when he tried to appoint a sound money candidate to the Fed.

If the Dems can add 20M illegals to the voting rolls, pack the Supreme Court and add 4 more Dems to the Senate and entrench the tech oligarchs, the constitutional republic is over and the serfdom of the peasants will be complete, just like it has been throughout history.

Canada follows because the central banks are linked.

If you don’t think it can get worse, travel around the worlds a bit.

#108 willworkforpickles on 10.01.20 at 11:01 pm

#94 Barb
I moved to Toronto from the US with the family in the summer of 72…I was 15 then… moved back to my home town (S Ferndale Mi.) at 32…If TO was still anything like it was in the 70’s even the 80’s,…Americans would find a way to move north of the border…Costs of everything overall now has marooned much of the middle class. Stuck wherever they are and not going anywhere anytime soon if ever.
I for one still own 1 property in Ontario and will wait for the opportunity to buy (high end) if prices moderate… (2014 prices or better)…it remains the impossible dream for now for most who would ever consider the move to begin with, even at 0.75 cents on the dollar.

#109 Ponzius Pilatus on 10.01.20 at 11:07 pm

#34 Flop
So, what are you saying?
Bigger is better.
Say that to Switzerland, Holland, Austria, Sweden etc.

#110 Ace Goodheart on 10.01.20 at 11:13 pm

So there’s never going to be a vaccine. Or if there is, it won’t work. Or it will kill people, or make them sick. Or do nothing.

That seems obvious. It will be common knowledge by April next year at the latest.

The myth that our economy is just going to “bounce back” and that the massive economic contraction that we are currently experiencing, is temporary, is just another way of people not dealing with the obvious.

Our government is on track to borrow 600 billion dollars this year. That is a little bit less than our entire national debt as of March 2020. The Provinces are a similar financial mess.

The 600 billion has not actually been borrowed, it has been printed. Our government must now decide whether to sell that 600 billion dollars of debt to third parties, and then pay it back, with interest, or just write it off.

It is entirely possible, and very likely, that by this time next year, our government will have printed a trillion Canadian dollars.

So what does all this mean? You can get a mortgage right now for 1.5%. That means, $700,000 CDN costs you $2600.00 per month, payable in full in five years’ time.

So, I am a pragmatist. And an opportunist. And a hard realist. I look for holes in the system.

I see one.

Is this not an historic opportunity to game the system?

What is the one thing they cannot print?

Land, and particularly, land in cities, with houses on it.

What will $700,000 CDN be worth in five years’ time?

How much devaluation will occur to our currency, if our government writes off a trillion dollars in freshly printed money, during a recession/depression when everyone is doing the same thing?

#111 Don Guillermo on 10.01.20 at 11:30 pm

#40 Emo on 10.01.20 at 5:50 pm
Canada is only good for Justin Trudeau and his screaming lady fans. Even Justin Bieber had to migrate to the USA
******************************************

That’s why god made Mexico.

https://www.youtube.com/watch?v=A_7Z1gZHRvg

#112 Diamond Dog on 10.01.20 at 11:43 pm

“How would I look walking a WH dog, how would I look walking a dog” – D.J.Trump

No empathy. Grrr. 212,000 dead in the early stages of a pandemic and winter is coming. Less than 1 in 1550 Americans have been tomb stoned from Covid. By the end of the year, it will be less than 1 in 1,000. Among blacks, it will be closer to 1 in 500 and the president is telling people masks are a waste of time. I told my dad, “Trump may be a sociopath, but he’s not a murderer”. he said to me, “Trump’s telling people not to wear masks, its murder”.

Y’know what, I couldn’t find an argument against it.

#113 Chief Pilot Antifa Air great deals on soup see our website on 10.02.20 at 12:11 am

The mango menace is afraid of dogs. Dogs are excellent judges of character therefore would react poorly to his presence. That was a good ad by Biden’s people.

I need to correct to you on the walking thing though, I live in such an area as you describe. They walk, jog, skateboard, bike through the four way stop signs just none of it on the sidewalk for some reason they are all on the road.

Maybe Trump has covid though so maybe that will fix one of the worlds because problems. The only person I’ve wished it on and he richly deserves it.

#114 NSNG on 10.02.20 at 12:24 am

What makes housing more affordable is high interest rates. It knocks the price of houses down and actually pays people to save up for a down payment (but it also keeps more people out of the housing market because they can get a return on their savings which is not desirable to bankers). If people were getting paid 7% for a down payment instead of 1.5%, they would have a house much sooner and the houses would be much cheaper.

The bankers and debt industry don’t like that though. Neither does the government who borrows to spend. When push comes to shove the bankers are who the Central Banker works for. Not the common people. Wallow in your debt slavery.

40% in a year? Good thing the pundits have told us we will not be seeing central bank induced hyperinflation.

#115 NSNG on 10.02.20 at 12:29 am

I’m just thankful that if all the lefties move north they won’t be able to vote.

They might figure out a way to cheat though. They’re lefties, after all.

#116 morrey on 10.02.20 at 12:29 am

Trump is in Quarantine

secure the border!!

#117 NSNG on 10.02.20 at 12:36 am

#14 Alberta Ed on 10.01.20 at 4:29 pm

Sadly, Clinton’s First Dog, Buddy, was run over when chasing a car. Not sure Bill is a real dog guy.

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

Interesting. I did not know that.

That brings to mind two questions.

1. If it was Clinton’s dog, was there a hot young intern in the car?

2. What did the dog see and who was he going to tell about it?

#118 morrey on 10.02.20 at 12:43 am

#75 YouKnowWho

No one is above the rules.

#119 whiplash on 10.02.20 at 1:37 am

Did you happen to notice how Biden was reluctant to engage Trump on law enforcement. How Trump has endorsements from police associations across the US. Right now there is an immigration bill before the house that was introduced by the Democrats that has disturbing criminal consequences. Here is just one small section that directly impacts boots on the ground.
Sec.501
(a) In general Section 287(g) of the Immigration and N
ationality Act(8 U.S.C.1357(G) is amended to read as follows:
(g)(1) The officers and employees of any State, or any political subdivision of a State, are prohibited, from performing the function of an immigration officer in relation to investigation, apprehension, transport, or detention of aliens in the United States or otherwise assist in the performance of such functions.
(2) Civil immigration warrants shall not be made available to the officers or employees of any State, or political subdivision of a State, through Crime Information Centre database or its incorporated criminal history databases. Federal, state, and local law enforcement officials are prohibited from entering into the National Crime Information Information Center database or its incorporated criminal history databases information that relates to an alien’s immigration status, the existence of a prior removal, deportation, or voluntary departure order entered against an alien, or any allegations of civil violations of the immigration laws. Any information described in this paragraph that is in the National Crime Information Center database shall be removed from such database not later than 90 days after the enactment of this bill.
What could possibly go wrong? Immigration and Customs Enforcement relies heavily on state and local police to make arrests for them until they issue a detainer request until the subject is taken into their custody.
The National Crime Information Centre is the lifeline of law enforcement, Democrats with this bill, just kneecapped it. Joe, can you say “law enforcement”

#120 El presidente on 10.02.20 at 1:41 am

There was just no way we were getting through 2020 without some more drama….

#121 Bailing in BC on 10.02.20 at 2:03 am

Trumps got Covid

https://www.rollingstone.com/politics/politics-news/donald-trump-quarantine-hope-hicks-coronavirus-1069998/

#122 President Pence or Pelosi!! on 10.02.20 at 2:05 am

Clorox stocks taking a beating…

It just had to be. Are u entertained!

#123 Jane24 on 10.02.20 at 2:11 am

What Atlantic Canada needs is more international airports. We have friends in Halifax and we tried to visit them from London, England last summer. Only direct flight was from Dublin and at hours that meant it would be a one hour flight, a night in a hotel and than an early morning flight again. If Halifax truly has 600,000 residents then you should be able to get to London, Paris and Rome direct once Covid has finished killing off aviation.

We left Canada in 1992 as we couldn’t stand the cost of living then. With the exception of three lucky families we know who are in RE there or had large inheritances, everyone we know in Canada is house or bills poor. They have no money even after a lifetime of work. The few who have substantial employment pensions are being taxed very heavily on them. Our nieces and nephews are stuck in rental forever. In the snow. The Americans are welcome to move up. Doubt if they would stay.

Canada has indeed taken a wrong turn somewhere in the past and stayed the course.

#124 Diamond Dog on 10.02.20 at 2:38 am

“How would I look walking a WH dog, how would I look walking a dog” – D.J.Trump

Grrrr. Shortly after Chinese leader Xi Jinping briefs Trump on how the new Corona virus is an airborne killer, west wing staff is told not to wear masks when they arrive. “Not a good look”.

https://www.cnn.com/2020/10/01/politics/white-house-face-masks-coronavirus-culture/index.html

In other news, Trump and first lady test positive for Corona virus. Conspiracy? Does Trump really have Covid19? Is this Trump’s way of avoiding the next presidential debates… bone spurs anyone? Meanwhile, Covid19 as news (or fake news) simply will not go away:

https://www.cnn.com/videos/politics/2020/10/01/trump-coronavirus-misinformation-study-sarah-evanega-cornell-nr-vpx.cnn/video/playlists/this-week-in-politics/

In other news in Texas, Republican governor reduces all counties to just 1 drop off site for mail in ballots. This means 11 of 12 closed drop off sites for mail in ballots in Harris county, as example. Harris county only has 2,000 square miles with 4.7 million people. No doubt, Texas is “in play” for the Dems in the up and coming. Voter suppression, anyone?

Oh, and worth a mention, the behind the scenes guys at Fox counted the president interrupting either Biden or Wallace 145 times during the debate which is way more than a minute, at least, according to Wallace:

https://www.yahoo.com/entertainment/chris-wallace-trump-bears-primary-202721189.html

If there is another debate, now doubtful since Trump has bone spurs, excuse me, Covid19, it wouldn’t be overtly difficult to put Trump in his place. “You don’t listen!” What is a president supposed to do with the concerns of the American people? Just asking. Bob Woodward put it as politely as one can. “Not the right man for the job”.

#125 Nonplused on 10.02.20 at 3:30 am

Well I guess this sorts things out, if true:

https://www.youtube.com/watch?v=NyqL6CY19g8

The chances that the President would get covid is about the same as for everyone else, so 3% or less, so I remain skeptical, but more will become known. If he is positive this could change things up dramatically. No more debates, no more rallies, and Biden can just stay in his basement.

I suspect it is fake news, but we shall find out.

Oh and just watch your Facebook feed if you are still on that dreadful platform as the cheers for Trump’s impending death explode.

#126 yvr_lurker on 10.02.20 at 3:30 am

Don’t wish the worst on the Trumps now with their Covid diagnosis. If he gets through it hopefully he learns some humility and develops a greater understanding of Covid issue. Must turn the TV off as I can’t listen to it non-stop. On the other hand, the number of Amazon workers (roughly 20K) who have caught Covid (due largely to Bezos’s strict policies) is shocking.

https://www.bbc.com/news/business-54381928

How come this is from the BBC and not Fox News? No need to reply to this as I know the answer.

#127 belly rubs on 10.02.20 at 3:48 am

#96 YouKnowWho on 10.01.20 at 9:11 pm

So I would pay 4x what it would cost me to rent same space in better geographic location with better view on the hope that someone else will pay me back the 4x more I paid…plus? Good investment strategy.

Also…do you know you just suggested a Bloor and Jane 1300sqft condo would be worth 2.9m ina few years? It doesn’t seem at all crazy to you? I’m really starting to believe the laundering bit. Maybe that’s really Canada’s #1 economic contribution? We’re the world’s dry cleaner!

I’m not suggesting anything. Just speculating on the psychology of the greater fool. If it works, they eat like kings. How would one rationalize the purchase? I presume many factors are at play… locale, shelter, hormones, investors, low interest, some parking cash during inflation, culture… perceptions. Our title outside city limits went up 28% yoy on assessment, and the district did that. Lots of people in different roles want real estate prices to go up. Personally, I don’t see the changing market supporting the current level of capitalization, ie, it’s going to run out of gas.

Affordable alternatives to for-profit models are needed. Smaller centers might meet that need with available land mass and flexible zoning. I disagree with Garth that urban centers will revive to their former glory anytime soon. I will suggest many cities could slowly stagnate over the next twenty years until they are waning attractions. Just a hunch, based on migration patterns last millennia and our own business.

#128 tkid on 10.02.20 at 5:08 am

So, POTUS and FLOTUS have COVID, possibly from Hicks. Hicks was reported to be on the same plane as Biden at one point. This is gonna make the US election extra interesting.

#129 YouKnowWho on 10.02.20 at 5:30 am

Trump has Covid?!

Watch…as nothing happens.

Wonder if he’ll have to miss that Oct 15th debate? Maybe Sleepy Joe can have the mic for the full 90min? See if he can carry the show?

#130 Sail Away on 10.02.20 at 6:29 am

I’m pretty sure Trump’s debate strategy was to acquire Covid first, then never ever stop talking in order to assassinate Joe.

Trump knew Biden would briefly be unprotected by his gigantic mask and went in guns (well, mouth and droplets) a-blazin’.

#131 paulo on 10.02.20 at 7:04 am

Potus and squeeze with covid. ummm how convenient.

#132 Guelph Guru on 10.02.20 at 7:11 am

Have a lot of friends in Trumpland. The only folks who try to move to Canada are the ones whose work permits renewal is a question.

Another interesting observation from the Mortgage graph:
80 to 81: Boom
81 to 85: Bust

85 to 89: Boom
90 to 98: Bust

99 to 2020: Boom
??: Bust

The booms and busts are getting longer. The busts are typically twice as long as booms. The last boom has gone for 21 years. The next bust will go on for over 42 years.
Will there be a bust or is it different this time?

#133 Stone on 10.02.20 at 7:17 am

“It is what it is”

Yes. It is.

#134 Howard on 10.02.20 at 7:19 am

We’re a month out. At this point, for Trump to win, he has to take back at least 5 points out of Biden’s 8-point lead. By that I mean he can lose the popular vote by around 3 points, as he did in 2016, and still win the electoral college if his support is optimally apportioned amongst the swing states. Not a massively tall order, certainly could happen. The fact that Trump now has Covid might even garner him some sympathy.

#135 Apocalypse2020 on 10.02.20 at 7:20 am

TRUMP HAS COVID!!!

“Careful what you wish for”

Wise words indeed.

The unravelling of America is now beginning at high speed.

Pre-markets dropping.

Lies, coverups and mega-distractions ahead.

Go to your stores now, stock up.

PREPARE

#136 Apocalypse2020 on 10.02.20 at 7:36 am

China. Russia. Iran.

All rubbing their hands in glee.

PREPARE

#137 SOMETHINGS UP!! on 10.02.20 at 7:38 am

I WISH COVID-19 ON NOBODY……….

Markets about to turn upside-down.

#138 maxx on 10.02.20 at 7:46 am

@ #2

Perhaps not, but he does have this, apparently:

https://www.theguardian.com/business/live/2020/oct/02/global-markets-retreat-after-trump-tests-positive-for-covid-19-business-live?utm_term=39d0c7e1abaa028d1d088b541400685e&utm_campaign=BusinessToday&utm_source=esp&utm_medium=Email&CMP=bustoday_email

#139 Stone on 10.02.20 at 7:54 am

#131 paulo on 10.02.20 at 7:04 am
Potus and squeeze with covid. ummm how convenient.

———

Yup. Fake news! Nothing else is working for Trump so why not lie about this too.

#140 crowdedelevatorfartz on 10.02.20 at 7:57 am

@#136 Poxy2020
“China. Russia. Iran.
All rubbing their hands in glee.”

+++

Not nearly as much as you it seems.

#141 crowdedelevatorfartz on 10.02.20 at 7:58 am

@#133 Stone.
““It is what it is”

Yes. It is.”

++++

Is it?

#142 crowdedelevatorfartz on 10.02.20 at 8:04 am

@#123 Jane24
“What Atlantic Canada needs is more international airports. We have friends in Halifax and we tried to visit them from London, England last summer.”
+++

Jane Jane Jane….
The Halifax INTERNATIONAL airport has flights leaving to Europe daily.
They just create those dreadful flight times to annoy you
OR
It isnt cost effective to run an empty plane from HFX to jolly old blighty ( most Haligonians would rather vacation in Cuba than another cold wet gray country with a city named Halifax).

#143 TurnerNation on 10.02.20 at 8:26 am

“A single new case in NS, for example, is a rare thing.”

Why is this even in the news? It’s totally a control mechanism and a distraction.
People are obsessed by the “numbers” today.
When the numbers no longer are published what will they have? Answer is still no rights.
Those rights will not be returned.

Did our freedoms come back after Sept 11th? Nope. The rules of unlimited detention without jury trial, secret no fly lists, and so on, simply for being ‘suspected’ of being a t3rr0ist are STILL IN PLACE. To Keep Us Safe!!

#144 Steven Rowlandson on 10.02.20 at 8:45 am

RE#110

“What will $700,000 CDN be worth in five years’ time?”
Good question and the answer is not much. Forty years ago when we had 7% rates on savings accounts that kind of money would generate $49,000 which is sufficient income within the 3 years pay rule to buy a decent home and raise a family. Having a job would be gravy. Now the same amount of capital would generate very little and if used to buy a home your capital would be gone in a flash and if you were lucky you might have some cash left over which would soon go to other expenses leaving you with the need for a job which may or may not be sufficient to cover costs. I expect the cost of heat, hydro, water, insurance plus property taxes to be horrifying and might consume much if not all of ones income before one spends on personal or family needs.
Having an extraordinary income would seem to be a prerequisite for living in Canada.

#145 YouKnowWho on 10.02.20 at 8:55 am

DELETED

You have crossed the line with comments about political leadership and privileges here are suspended. – Garth

#146 Ace Goodheart on 10.02.20 at 9:19 am

So I did another little undercover real estate purchase investigation.

The target: a big old 1860’s house in the Junction.

The play: Same as usual – myself, our toddler and my “pregnant” wife (she is such a good actor).

We enlisted the help of an agent.

The backstory: We own a house, that we are wanting to sell. Equity around 800K, but we would need to find a buyer.

We are “pre approved” for a mortgage up to a million dollars.

We have 500K in stocks that we would need to sell.

We want to make an offer.

So here is how it goes: “You are pre-approved, and you have a house to sell, so you can offer unconditional – you just have to establish your high price ceiling, which is the amount your house is worth, minus real estate commission + your pre approval number, then bid away!”

I am like “what if I can’t find a buyer for my house?”. The answer: “set a long closing date, two months is usually enough”.

So I ask for this offer: 1.7 million (list was 1.49, I would have blown all the competition away, more on that later). Conditional on a bank appraisal (the only way you can actually get mortgage funds released) and on the sale of my house (with a closing date extension clause if the closing date of my house is after the closing date of the house I am purchasing).

Well, you would not believe the response. We literally got dumped by our agent.

No conditional offers!

No conditions allowed in an offer.

All offers must be firm, with no conditions. No exceptions.

They will not even consider making our offer to the sellers. It will not be accepted, we are told.

So this is what is happening. People are being put in legal jeaopardy, by this process. They are giving up necessary legal safeguards during the negotiation stages of a process to purchase an asset worth over a million dollars. This is being forced onto people by a real estate industry apparently gone nuts.

No where else, anywhere, I mean, there are consumer protections pretty much everywhere else, no where is a consumer required, forced, to give up necessary legal protections, in order to purchase an asset that costs this much.

You have more legal protection shopping for Potatoes at Walmart.

Oh, and the end result of this little undercover sweep of our wonderful, completely unregulated real estate purchase and sales industry?

The house sold in a bidding war for 1.59 million.

So they would have gotten more money, if they had worked with our conditional offer. But their agent told them not to.

So there.

#147 YouKnowWho on 10.02.20 at 9:22 am

#127 belly rubs

Yup. It doesn’t make sense.

I guess if you WANT something, you can justify it to yourself…always. It’s what humans do best. Even with pets, we feel like they should just be there for our pleasure, and we justify it as some act of charity and kindness. Interesting.

It’s how we can put our WANTS ahead of other peoples well being in life. How we’re able to step on others to get what we WANT. How we make ourselves feel superior at the cost of another human being. How we can exploit another human being to get what we WANT.

Really twisted.

Social media now has driven the fire of envy. We want things others have. Others brag about what they have to many more than they used to. Now we live for that social media post that makes us feel important, unique, like we have something others don’t have.

I told the young ones, you want something someone else doesn’t have? MAKE IT with your hands!

I don’t know what to make of the cities. What I will say to you is that it is simply not livable to me. I cannot tell you how may friend’s condo units I’ve been to that have a view of another condo building on every corner of the unit. A sliver of opening in between. It’s demoralizing.

I have lived in an apartment that had views of buildings, and I cannot say enough about what a psychological downer that is vs. looking at trees, water, sky without any buildings for at least a few km distance.

FUN FACT. I have a nice telescope. Nothing crazy, but enough for me to see what you’re doing in your living room from 3km away. I’m not saying I snoop, but when the object I’m looking at gets covered by clouds…well, I may be looking at what you’re doing in your Palace Pier 27th floor living room – so keep it decent!

#148 YouKnowWho on 10.02.20 at 9:27 am

#82 SoggyShorts on 10.01.20 at 8:16 pm
#69 YouKnowWho on 10.01.20 at 7:32 pm
#62 YouKnowWho on 10.01.20 at 6:59 pm
I bet solid 50% of dog owners get dogs for image reasons, and who suffers? That’s right – dog.
***************************
That sounds like the worst bet I’ve ever seen on this blog.

“50% of people who own dogs got them because they look cool?”

Have you ever even had a pet? Pet a dog? Played fetch?
Maybe, and I think I’m being generous, you meant 5%?

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

You know what…I’m going up to 100%!

Yeah, 100% of pet ownership is a want, craving, desire, that comes from a selfish place to direct certain emotions and fill gaps.

You know why I’m upping it to 100%?

Show me an instance where a pet left their mommy at young age, knocked on your door and wanted to live alone with a human vs. being with their pack? Especially dogs.

Humans have made the decisions that we will separate pups from moms, and keep them for personal pleasure.

I absolutely LOVE chameleons. They are simply an incredible creature. $500 and I could have lovely example in my home. You know why I don’t? Because I know it would be selfish and inconsiderate to the creature, and I want no part of doing that to another living thing. Plus I don’t want to contribute to the human “manufacturing” of these pets with my demand.

And so, I bought a book, with lovely pictures of chameleons in the wild and all the amazing things chameleons do.

See? I don’t need to cut down the flower and bring it home. I can enjoy it for the moment I walk by it for the beauty and leave it where it is. But Humans…we have this NEED to own. It’s funny actually. Consider how much NEED TO OWN matters when you’re on your death bed. Just give it a thought….you know, for perspective.

#149 YouKnowWho on 10.02.20 at 9:55 am

SUSPENDED

#150 Sara on 10.02.20 at 10:10 am

@YouKnowWho #48

There is a big difference between “owning” a *domesticated* dog versus a chameleon. Dogs need humans to have a good life. Chameleons, not so much.

#151 the Jaguar on 10.02.20 at 10:11 am

Though most would not see it in this light, Trump testing positive could work in his favour. He may be in his seventies, but he doesn’t smoke or drink, is fortified by his McDonald’s cheeseburger diet and will likely not suffer complications. (unlike Boris in England).

He can and will demonstrate the old saying ‘When the going gets tough, the tough get going’. Americans love perseverance ( who doesn’t?). Biden will appear frail next to him. Given what Trump has endured these past four years with attacks from opponents, media, Covid, forest fires, hurricanes, riots, etc., when he comes out of it still standing and feisty as ever it will be to his advantage.
Nature makes some of more robust than others. It might not be fair, but it is what it is………

#152 YouKnowWho on 10.02.20 at 10:12 am

SUSPENDED

#153 Flop... on 10.02.20 at 10:14 am

#109 Ponzius Pilatus on 10.01.20 at 11:07 pm
#34 Flop
So, what are you saying?
Bigger is better.
Say that to Switzerland, Holland, Austria, Sweden etc.

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

Morning, Mr Ponz.

Did you look at the visualation?

Some guys on here yesterday said they didn’t see what Europe had going for it investment wise.

I provided a chart that showed if you take The Fanga Boys ( tech stocks) out of the equation in a lot of other categories they have similar size companies in various forms.

Maybe go back and read my post again and click on the link.

European beer?

Yes, the bigger the better…

M46BC

#154 justdeleteitifyoudontlikeit on 10.02.20 at 10:35 am

“Just a simple observation…Why do so many posters here seem to be so anti-American? I’ve travelled extensively in the US and most people I’ve met have been great!”

Did you talk to those people about decades of softwood lumber disputes, Keystone XL, aluminum and steel tariffs, ripped up trade agreements, US no-fly lists for Canadian flights, thickened borders, and conspiracy theories (e.g. that the 9/11 hijackers crossed in from Canada)?

My impression is that much Canadian irritation with America has nothing to do with the average American on the street, or with border state governors. It originates with Washington DC, doing the bidding of a few American businessmen on issues that most Americans neither know nor care about.

“We consume American products, technolgy, media…”

Yes we do. When American right wing media tell their audience to hate Obama and the Clintons, some of that audience is Canadian. When American left wing media says hate Trump, some of that audience is Canadian. To an American, it’s easy to hate the current president, whoever that may be, without hating the country as a whole. For someone outside the country, there’s less nuance.

Also, America’s breathtakingly poor handling of COVID is inflicting significant economic damage on Canada.

#155 YouKnowWho on 10.02.20 at 10:36 am

SUSPENDED

#156 IHCTD9 on 10.02.20 at 10:50 am

#123 Jane24 on 10.02.20 at 2:11 am

…With the exception of three lucky families we know who are in RE there or had large inheritances, everyone we know in Canada is house or bills poor. They have no money even after a lifetime of work. The few who have substantial employment pensions are being taxed very heavily on them. Our nieces and nephews are stuck in rental forever. In the snow.
_______________________

Sounds like you are describing Canadian Metro life. Crummy wages for most, super expensive RE for all. Everyone should have this figured out by now. Places like the GTA are headed for extreme levels of inequality thanks almost solely to RE prices and rents.

Outside the GTA life is much different, it’s pretty much the life promised to all immigrants who come here. House, job, peace, clean, nature etc.. We got it in spades, and it’s still affordable for the most part – although some stupidity has crept in this year.

Winning big in Canada compared to most of the globe boils down to a few critical choices – all one has to do is show up with a plan, and make the right ones.

Make a good plan, and the right choices – you Win. Make bad ones, and you end up like your nieces and nephews – thickening the Metropolitan upper crust, while getting nowhere fast.

#157 YouKnowWho on 10.02.20 at 11:02 am

SUSPENDED

You may correspond with me privately for details on the severity of your punishment. – Garth

#158 Russ on 10.02.20 at 11:03 am

Frank N Beans on 10.01.20 at 10:11 pm

Holy abbreviation-o-tron I need to take a side course just to catch onto all the short forms you put into this post. I can tell you’ve had your fair share of government briefing notes with all your abbreviatos, bro. Good thing I follow you or I’d be left in the dust. I’ll start a glossary of terms on your behalf. [email protected] was the first one that stumped me for a while. Today: SJW, NWT, WFH, NS, GTA
AF
=======================

Hey Frank,

This might help:
SJW – Social Justice Warrior
NWT – North West Territories
WFH – Working For Husband
NS – Novi Scotia
GTA – Greater Toronto Area (AKA greater fools area)
AF – Another Frikken…

And this from, an old friend, fellow Blog Dog
https://docs.google.com/document/pub?id=1EVlDhkf7qkUsihOM5HdNfECc6sahkF2iOn7G8vXqiL4

Cheers, R

#159 Dharma Bum on 10.02.20 at 11:06 am

Every time I read about the insanity of house prices I can’t help thinking that peoples’ fortunes are primarily a matter of luck. Yeah, yeah, I know, there’s hard work involved – blah-blah-blah, but the fact remains that if you were born between 1947 and 1970, you pretty much could have anything you want by just having a pulse.
I admit it.
If you conducted yourself even half normally, you could get a decent job at 20 years old (in many cases right out of high school), get a car, get a mate, buy a house, and live the good life without amassing a mountain of debt.
Today?
Uhhhhhh…not so much.
Boomers really did (and still do) have it made financially (unless there is something fundamentally wrong with them mentally).
Yes, it was mostly LUCK.
Timing.

#160 crowdedelevatorfartz on 10.02.20 at 11:08 am

@#155 You Know Who
SUSPENDED

$$$$$$$

Enjoying the penalty Box?

#161 Ubul on 10.02.20 at 11:42 am

You may correspond with me privately for details on the severity of your punishment. – Garth

LOL. Dog privilege and punishment granted by the almighty Dog. Severity of punishment may involve walking straight to hell or just licking the feeding hands of the master, while getting the leash shorter at the private audience. It’s a dog’s life. Nobody tries that with cats.

#162 Stormy Daniels on 10.02.20 at 11:44 am

YouKnowWho on 10.02.20 at 11:02 am

SUSPENDED

You may correspond with me privately for details on the severity of your punishment. – Garth

___________________________________________

Sounds a bit sexy, Garth. Perhaps the Lunenburg Enquirer might like to know about your private “punishments” as well?

(You’ll need to pay me a little more than $130,000 now to keep quiet……………………)

#163 Sail Away on 10.02.20 at 11:47 am

#157 YouKnowWho on 10.02.20 at 11:02 am

SUSPENDED

“You may correspond with me privately for details on the severity of your punishment. – Garth”

———–

Same tactic I use with my employees if they dare transgress my authority. They cower to re-ingratiate themselves before I let them go with a stern but fair fatherly warning. And cut their bonus. Such fun!

#164 Brent on 10.02.20 at 12:00 pm

The average monthly mortgage payment chart makes no sense to me. Even a modest mortgage balance (i.e. under $300k) carries for well over $1k/month, and most people I know buying houses have much larger mortgages than that.

#165 Ronaldo on 10.02.20 at 12:06 pm

#160 crowdedelevatorfartz on 10.02.20 at 11:08 am
@#155 You Know Who
SUSPENDED

$$$$$$$

Enjoying the penalty Box?
—————————————————————
Probably suffering from major withdrawals right now like an addict with his drugs being taken away.

#166 Damifino on 10.02.20 at 12:13 pm

#159 Dharma Bum

“…the fact remains that if you were born between 1947 and 1970, you pretty much could have anything you want by just having a pulse.”
————————

Tell that to someone who grew up in the utter shambles that was post WW2 Europe. Then prepare to be laughed out of the room.

I was born in Vancouver in 1950 and had completely forgotten I entered this word in the lap of luxury. It’s amazing how something like that can slip one’s mind.

I can offer this guarantee: No one under the age of 50 has the slightest interest in a historical recounting of how things really were in the middle of the last century. Yawn.

#167 IHCTD9 on 10.02.20 at 12:16 pm

#153 Flop… on 10.02.20 at 10:14 am

European beer?

Yes, the bigger the better…

M46BC
___

I’ll second that!

#168 Steerage on 10.02.20 at 12:24 pm

#142 crowdedelevatorfartz on 10.02.20 at 8:04 am

@#123 Jane24
“What Atlantic Canada needs is more international airports. We have friends in Halifax and we tried to visit them from London, England last summer.”
+++

Jane Jane Jane….
The Halifax INTERNATIONAL airport has flights leaving to Europe daily.
They just create those dreadful flight times to annoy you
OR
It isnt cost effective to run an empty plane from HFX to jolly old blighty ( most Haligonians would rather vacation in Cuba than another cold wet gray country with a city named Halifax).
…..

So seems Canada beats the UK for retirement…..ooops Jane.

“For the second year in the row Natixis Investment Managers’ Global Retirement Index placed Canada in 8th place among 44 developed nations. Iceland, Switzerland and Norway top the ranking while the United states came in 16th and the U.K., 17th.”

#169 Truth on 10.02.20 at 12:30 pm

So, I thought you said a few days ago that September Vancouver real estate was looking like a big disaster?

https://bc.ctvnews.ca/vancouver-s-real-estate-market-sees-best-september-on-record-this-year-1.5130087

I did not. – Garth

#170 cto on 10.02.20 at 12:31 pm

Dont worry canadian mortgage snorfer’s, and specvestors, the BOC and govs got your back handing out money and cheap debt for the rest of the decade.

too big to fail!, too big to fail! too big to fail!, too big to fail! too big to fail!, too big to fail! too big to fail!, too big to fail! too big to fail!, too big to fail! too big to fail!

#171 Oakville Rocks! on 10.02.20 at 12:32 pm

TRUMP HAS MILD SYMPTOMS AFTER POSITIVE TEST…

This headline reminds me of an old joke whose punchline is…

Your grandmother is on the roof and won’t come down.

#172 SoggyShorts on 10.02.20 at 12:34 pm

#148 YouKnowWho on 10.02.20 at 9:27 am
#82 SoggyShorts on 10.01.20 at 8:16 pm
#69 YouKnowWho on 10.01.20 at 7:32 pm
#62 YouKnowWho on 10.01.20 at 6:59 pm

Ridiculous. Clearly someone who has never known the love of (or loved) a pet. I never considered my dog to be property that I owned- he was part of the family.

#173 DON on 10.02.20 at 12:44 pm

151 the Jaguar on 10.02.20 at 10:11 am
Though most would not see it in this light, Trump testing positive could work in his favour. He may be in his seventies, but he doesn’t smoke or drink, is fortified by his McDonald’s cheeseburger diet and will likely not suffer complications. (unlike Boris in England).

He can and will demonstrate the old saying ‘When the going gets tough, the tough get going’. Americans love perseverance ( who doesn’t?). Biden will appear frail next to him. Given what Trump has endured these past four years with attacks from opponents, media, Covid, forest fires, hurricanes, riots, etc., when he comes out of it still standing and feisty as ever it will be to his advantage.
Nature makes some of more robust than others. It might not be fair, but it is what it is……

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

I had a similar thought. If I was his current campaign manager knowing that Trump needs a bump against his arch nememis COVID 19, why not better to defeat the virus.

The stock market recovered – in Trump’s favour (believe it or not). Then markets seemingly slumped when he caught the virus, as stated last night on bloomberg.

Trump handled COVID wrong from the start and has been reeling from the affects ever since. All he had to do is protect the people. Now his chance to defeat the virus ‘no big deal’ and get a bump in support and then he will magically provide a stimulus deal and take credit for it a week before the election. Or something like that.

One thing I have noticed, Trump doesn’t give up that easily even when the truth is right in front of him. Will he breeze through the quarantine? I think he may? Make for a great American story. Or he really gets sick…blames the virus and invalidates the election.

#174 DON on 10.02.20 at 12:47 pm

*nemesis

I fear grammar teachers.

#175 MF on 10.02.20 at 12:50 pm

166 Damifino on 10.02.20 at 12:13

That’s not true at all. Where did you get that from? I’m a huge history buff, as are tons of my friends and colleagues. Especially 20 century history.

And what Dharma Bum said is largely true. Statistics bore it out. Wages down over the past 40 years, living expenses up, inequality up.

MF

#176 crowdedelevatorfartz on 10.02.20 at 1:04 pm

@#166 Damfino
“I was born in Vancouver in 1950 …”
+++++

I’ve only lived here since 1981 and I’m constantly amazed at the changes to the Lower brain land…..I cant imagine seeing the growth from the 1960’s until now.
I talked to a guy about 20 year ago that was in his late 80’s and he recalled a herd of pigs getting loose from a yard around Broadway and Main in the 1930’s…
And he and his friends used to cut small trees down and build rafts to float in False Creek …..

#177 KLNR on 10.02.20 at 1:16 pm

@#147 YouKnowWho on 10.02.20 at 9:22 am

FUN FACT. I have a nice telescope. Nothing crazy, but enough for me to see what you’re doing in your living room from 3km away. I’m not saying I snoop, but when the object I’m looking at gets covered by clouds…well, I may be looking at what you’re doing in your Palace Pier 27th floor living room – so keep it decent!

lol, you creep.

#178 Truth on 10.02.20 at 1:19 pm

“September was a shocker in Vancouver, for example. Compared with August (the market peak) condo sales have fallen 51% while detached deals are off 46% from last month. Ditto for townhouse transactions – down by half.”

So, what was this?

Mid-month stats provided by a realtor. – Garth

#179 KLNR on 10.02.20 at 1:28 pm

@#74 Nonplused on 10.01.20 at 7:46 pm

Read an interesting article on scientific discovery and investment:

https://www.zerohedge.com/economics/urban-exodus-yes-they-will-come-back-no-they-wont

I like the line at the end:

“In the limit, if innovation is fast enough, we are driven to say that if it is now possible that something can happen, it must happen.”

you lost all credibility quoting zerohedge

#180 Barb on 10.02.20 at 2:00 pm

#172 Soggy Shorts
“I never considered my dog to be property that I owned- he was part of the family.”

—————————-
Exactly!
I wouldn’t even know HOW to think of a dog as property.
More akin to the best a child could be…always happy to see me. And I her.

#181 Truth on 10.02.20 at 2:06 pm

“Badboy housing guru Dane Eitel.”

You should get a respected realtor consultant. In Vancouver, he’s not even regarded as a realtor. So, he’s tried to pretend he understands technicals and trying to apply it to real estate. You’re the only person I know who is trying to give him stature.

Calling someone ‘badboy’ gives them stature? – Garth

#182 MagggieB on 10.02.20 at 2:12 pm

#158 Russ

Working for husband? I believe WFH is working from home.

#183 justdeleteitifyoudontlikeit on 10.02.20 at 2:21 pm

“I wouldn’t even know HOW to think of a dog as property.”

Was money involved when you acquired it?

#184 Sail Away on 10.02.20 at 2:32 pm

#175 MF on 10.02.20 at 12:50 pm
166 Damifino on 10.02.20 at 12:13

…what Dharma Bum said is largely true. Statistics bore it out. Wages down over the past 40 years, living expenses up, inequality up.

—————

Nah. It’s all out there waiting to be taken. Just a lack of… something… Maybe call it gumption or willingness to take risk?

My two brothers own their own companies in the US, and my relatives own/run a lot of the major engineering and construction outfits in many different states.

I came to Canada 14 years ago and have had no problem adjusting to a new regulatory environment, getting credentialed, starting a firm, finding a niche and beating the competition regularly.

Fear, blaming and whining are self-fulfilling destroyers.

#185 ImGonnaBeSick on 10.02.20 at 2:36 pm

#179 KLNR on 10.02.20 at 1:28 pm
@#74 Nonplused on 10.01.20 at 7:46 pm

Read an interesting article on scientific discovery and investment:

https://www.zerohedge.com/economics/urban-exodus-yes-they-will-come-back-no-they-wont

I like the line at the end:

“In the limit, if innovation is fast enough, we are driven to say that if it is now possible that something can happen, it must happen.”

you lost all credibility quoting zerohedge

I seriously doubt nonplused cares about your credit, random judgmental internet user… it’s an opinion piece posted on using zerohedge merely as a medium, why don’t you read the article and post what you disagree with… An op-ed holds the as much clout on a zerohedge as it does on a CNN. If you are receiving your opinions based on specific people/mediums, this means you don’t actually have an opinion…

#186 Doug in London on 10.02.20 at 2:38 pm

@KLNR, post #177:
I don’t live on a Palace Pier 27th floor, but if I did and you saw me and got a picture of me butt ass naked, then so be it. However, if you post it and make money off it I want half!

#187 ImGonnaBeSick on 10.02.20 at 2:38 pm

** self-edit my grammatical errors above.. Typing on a phone sucks.. get over it…

#188 Diamond Dog on 10.02.20 at 2:46 pm

Trump failed to protect the nation and couldn’t even protect himself. Worry not, Trump can simply use disinfectant. Anti malaria drugs. UV rays. Sound. Talismans. Crystals. “It’ll just, disappear”. Trump’s the smartest guy in every room, just listen, you’ll see it right away!

https://www.cnn.com/videos/politics/2020/07/28/coronavirus-cases-united-states-trump-comments-since-reopening-orig-me.cnn

#189 Steerage on 10.02.20 at 2:55 pm

#181 Truth on 10.02.20 at 2:06 pm
“Badboy housing guru Dane Eitel.”

You should get a respected realtor consultant. In Vancouver, he’s not even regarded as a realtor. So, he’s tried to pretend he understands technicals and trying to apply it to real estate. You’re the only person I know who is trying to give him stature.

Calling someone ‘badboy’ gives them stature? – Garth
…..

Works for George…..

https://youtu.be/lDLLPW20y3U

#190 Looking up on 10.02.20 at 2:59 pm

#181 Truth on 10.02.20 at 2:06 pm
“Badboy housing guru Dane Eitel.”

You should get a respected realtor consultant. In Vancouver, he’s not even regarded as a realtor. So, he’s tried to pretend he understands technicals and trying to apply it to real estate. You’re the only person I know who is trying to give him stature.

Calling someone ‘badboy’ gives them stature? – Garth

—————-

I agree that “technical analysis” is a load of crap. It doesn’t work in the stock market and I’m sure it doesn’t work in the real estate market.

#191 MF on 10.02.20 at 3:05 pm

#184 Sail Away on 10.02.20 at 2:32 pm

Cool story but just an anecdote of success…among the many anecdotes of failure. The rest of what you wrote about is a personal bias.

Are you saying inequality has gone down over the past 40 years? Wages have gone up?

Hint: look at debt levels for a clue.

MF

#192 KLNR on 10.02.20 at 3:34 pm

@#185 ImGonnaBeSick on 10.02.20 at 2:36 pm
#179 KLNR on 10.02.20 at 1:28 pm
@#74 Nonplused on 10.01.20 at 7:46 pm

Read an interesting article on scientific discovery and investment:

https://www.zerohedge.com/economics/urban-exodus-yes-they-will-come-back-no-they-wont

I like the line at the end:

“In the limit, if innovation is fast enough, we are driven to say that if it is now possible that something can happen, it must happen.”

you lost all credibility quoting zerohedge

I seriously doubt nonplused cares about your credit, random judgmental internet user… it’s an opinion piece posted on using zerohedge merely as a medium, why don’t you read the article and post what you disagree with… An op-ed holds the as much clout on a zerohedge as it does on a CNN. If you are receiving your opinions based on specific people/mediums, this means you don’t actually have an opinion…

you are indeed sick

#193 Gravy Train on 10.02.20 at 4:06 pm

#184 Sail Away on 10.02.20 at 2:32 pm
“[…] Fear, blaming and whining are self-fulfilling destroyers.” Aren’t those the hallmarks of Donald Trump? Are you saying he’s going down? Gosh, I hope you’re right! :P

#194 Sail Away on 10.02.20 at 4:58 pm

#193 Gravy Train on 10.02.20 at 4:06 pm
#184 Sail Away on 10.02.20 at 2:32 pm

“[…] Fear, blaming and whining are self-fulfilling destroyers.” Aren’t those the hallmarks of Donald Trump? Are you saying he’s going down? Gosh, I hope you’re right! :P

————-

It is very hard to predict.

Maybe the mostly not dangerous Corvid will have its way with him.

#195 Gravy Train on 10.02.20 at 5:21 pm

#194 Sail Away on 10.02.20 at 4:58 pm
“It is very hard to predict. Maybe the mostly not dangerous Corvid will have its way with him.” I was, of course, referring to his chances of winning the election, not of surviving his bout with COVID-19. I wish him and his wife a speedy recovery with no ill effects. You have a perverse turn of mind.

#196 I Now Know Where My Money Went, Greedeau? To Shady RE! on 10.02.20 at 10:41 pm

Re: #146 Ace Goodheart on 10.02.20 at 9:19 am
So I did another little undercover real estate purchase investigation.
+++++++++++++++++++++
Well there’s the proof that the RE Industry is a scam and crooked……
Time for some major changes!!!!