* Sigh *

This tedious, pedantic, hectoring but incredibly manly blog has asked the questions a few times now. Why stretch to buy a house during a recession? And pandemic? Which is getting worse? Huh?

Alas, even seasoned blog dogs are giving in to their pants. Witness Dan. “I’ve been reading your blog for 10 years and I’m kind of surprised to be asking you this as perhaps it goes against everything you have been preaching… but maybe not,” he whimpers.

“I’m considering upgrading my home, just north of Toronto. A house in my neighborhood has been on the market for a couple of months as it was priced too high about 2 mil. I’m told I can get it for 1.8m.  If I sell my current house I’ll get approximately 1.4mil.  Prices are high here but they are way off the highs from 3 years ago.

“I currently have 150k left on my mortgage so will be taking on about 600k in mortgage. It’s a clear upgrade on my current home and it has a well set up basement apartment which would easily bring in $1500/month. We can afford the 600k mortgage without renting but I like the somewhat passive income that it will provide.

“Household income is just over 200k. We have a good pension are 45 years old and have about 300k in financial investments.  Perhaps this question makes your eyes roll and resolve to give up preaching. I hope not!”

Now there’s a lot we don’t know about this guy. Like his profession, kids, pension details, retirement plans, investment assets, job security or family obligations (needy parents, clingy children). No real estate decision can be made in isolation. And this is a doozie. Especially in days like these.

What’s Dan proposing? For starters, increasing his debt by a factor of four. Second, he’s probably burying a bucket-full of tax-free capital gain in another property, which constitutes a gamble – that inflated real estate values will stay that way until he needs the cash. Third, he’s not buying because it’s urgent, but because it’s an ‘upgrade.’ La-de-dah. And he justifies a $2,000,000 property in the outer burbs by saying he can take in a tenant for $1,500 a month. Seriously? A dude in the basement of your mini-mansion, sharing the driveway and wandering, unshaven in the backyard?

More to consider: a $600,000 mortgage at today’s rates of 1.95% seems delicious, but will things look the same in five years when it renews at 3%? This purchase will generate $36,500 in land transfer tax, plus closing and moving costs. So, kiss the better part of fifty grand away. Selling the existing place will cost another $84,000 in commission. Plus HST ($12,600). And there may be a break fee for the existing mortgage. More property tax for the new place, too. Also, Dan would end up with over 80% of his net worth in a single asset. Never smart.

And did I mention there’s apparently some virus going around? Ontario’s new cases have exploded higher in the last few days, bringing (today) another job-sucking set of restrictions. Meanwhile some right-wing militia nutjobs tried to start a civil war in Michigan. Not that far away. And maybe an indication of what the US post-election months will bring. Scary guys with black pickups, Trump flags and AR-15s. Yikes.

These are external threats nobody can control, or even completely anticipate. Meanwhile the NDP-Liberal coalition government in Ottawa is mulling new taxes on the wealthy in order to ensure everyone gets their $500 a week in benefits. Are people living in $2 million compounds considered rich? Do you think this might be a good time to keep your head down and live quietly among the masses?

                         

So stocks jumped again Friday. It’s been a remarkable few sessions lately, despite the president of the United States getting a deadly disease (which was a blessing from God, he says), more infections everywhere, tons of layoffs and intense political skirmishes. Trump seems more erratic than usual. In a tweet he nixed months of negotiations to craft a new stimulus bill, then two days later embraced it. He’s walked away from the next debate with Joe Biden. And the polls suck for Republicans.

The conclusion: Wall Street’s coming ‘round to the view that he’s toast. And it’s okay with that. Better than okay, actually. The worst-case scenario would be a contested outcome after November 3rd. A clear Biden victory is a superior outcome.

“We are getting more comfortable with the “Blue Wave”,” says analyst Ed Pennock. “Biden is gradually winning the Electoral College race. The increasing clarity is giving rise to an increase in risk-taking. Will Biden spend more? Probably. And the market’s fine with that. We do expect market Volatility to increase in the next 2 to 3 months.  Fears of a contested election are receding.”

Now, add in Covid therapies, like the stuff they pumped into 45. Then a vaccine, globally distributed in 2021. Sustained central bank fiscal stimulus. Plus trillions more in government economic support. If the virus has a winter crest, then starts to recede come spring, Dan will wish he’d sunk his money into something other than a pile of particleboard and glue in the GTA tundra.

142 comments ↓

#1 Overheardyou on 10.09.20 at 2:40 pm

I came across an idea:
Is it possible using your investment portfolio to create a mortgage to buy a property for yourself?

#2 Captain Uppa on 10.09.20 at 2:42 pm

“Dan will wish he’d sunk his money into something other than a pile of particleboard and glue in the GTA tundra.”

While I agree that Dan should hold off, perhaps just take some equity at low rates and upgrade his current home. I don’t understand why you always assume living just north of Toronto means a soulless hood with houses cramped together that all look identical.

While there are a lot of those, there are many areas laden with mature trees, wide lots, unique homes and vibrant main streets.

So, Dan, how about upgrading your current house?

#3 Catalyst on 10.09.20 at 2:45 pm

Have to agree with Garth here. Who buys a shiny new $2MM house to have a renter lurking below. Also, who will pay $1500/mo to live below the surface with thousands of above ground options now available.

Maybe sell your digs and invest it. Net you’d have roughly $1.6MM which at 7% nets $112k/yr. Maybe go rent a palace for $9k/month with the proceeds and start an instagram account called 2 teachers with a mansion. (okay I took some liberties on the possible jobs)

#4 TurnerNation on 10.09.20 at 2:47 pm

How is your health today Comrade, feeling better?

1. There is no grand conspiracy to turn the First world countries into poor*. This is for our health.
* Public unions excepted, until/unless they Cuba us.

https://www.wsj.com/articles/coronavirus-has-thrown-around-100-million-people-into-extreme-poverty-world-bank-estimates-11602086400
Coronavirus Has Thrown Around 100 Million People Into Extreme Poverty, World Bank Estimates
Decades of progress have gone into reverse; ‘the worst setback that we’ve witnessed in a generation’

— There is no plan for a New World Order and a global government. This is all to make us more prosperous and For Our Health. Shutting down the economies makes us healthier. I feel it already. Don’t you?

2. https://www.reuters.com/article/us-germany-taxation-oecd/137-countries-agree-on-oecds-corporate-tax-reform-proposal-scholz-idINKBN26U1MZ

BERLIN (Reuters) – More than 130 countries have agreed on a blueprint to introduce global rules on corporate taxation to be discussed by G20 finance ministers next week, German Finance Minister Olaf Scholz said on Friday.

“With a unanimous agreement on a blueprint for reforming the global corporate tax code we have taken a major step forward,” Scholz said in a statement.

————-
The Old System was shut down that one winter week in March, EVERYTHING going forward will be toward the New (Global) System. Every city, town and country is on board; #stayhome – nothing to see here, move along now citizen.

#5 Flop... on 10.09.20 at 2:48 pm

#218 millmech on 10.09.20 at 2:08 pm

#188 Flop
Check it out for yourself, seat price is up 84% YTD, 3 year average around 40% annual return, keeping my portfolio above water.
https://finance.yahoo.com/quote/ARKK/performance/

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

Hey Milly, nice turn of phrase, good to see you saw my comment was in jest.

I did look at the top ten holdings, I was familiar with about 5 of them.

5 out of 10, about the same as my school marks, just enough to keep me out of the gutters.

Is Tesla doing all the heavy lifting for that one?

Outstanding returns compared to the category also caught my eye but am an investment hack in charge of more money than I should be.

I remember my wife telling me to fill her TFSA maybe 5 years ago and I looked at a global technology fund that had gone up around 60% the year before.

Part of me thought that the ride might be over but after looking around I thought what else is there and jumped onboard.

You just never know how long these things can run, I sold some but stay in to this day as I don’t want to exit the segment totally even though the numbers give me pause.

She started years after me and now there is clear daylight between the two.

She is at work today, and I have done my work for the week, so I am winning todays battle…

M46BC

M46BC

#6 ElGatoNerodeYVR on 10.09.20 at 2:49 pm

As much as I am a proponent of buy RE within your means here I am totally with Garth ,bad time to buy now. Let’s face it when they say “tax the rich” what actually happens is tax the middle-class into oblivion ,which is us,those that pay net taxes. Also there is an insane exuberance amongst a good portion of the still employed as to the their jobs safety.
While I do expect the economy to eventually recover NO jobs are safe .My experience has taught me that the safer you feel the closer you are to be traded-in for a younger cheaper model.
Stay put, maybe spend the 100K that will cost you to sell into upgrades on your current place ,and stay away from renters , they will get more and more rights at your expense.

#7 David McDonald on 10.09.20 at 2:49 pm

No flies on you Garth; you were right about a recovering stock market even with the prospect of a second wave of the virus stalling the economy. I was too pessimistic and it cost me.

#8 Flop... on 10.09.20 at 2:52 pm

Today’s type of post is why I nicknamed Garth, Thor Turner.

He just dropped the hammer on someone…

M46BC

#9 canadian ex-pat on 10.09.20 at 2:54 pm

All real estate in Canada is illegal, because was build on occupied, stolen first nation’s land in illegal settlements.
Canada is illegal entity, fake country, has no right to exist. Canadians are a fake nation, who even has no their own Canadian language.
I wish and hope new independent first nations countries will be built on ruins of Canada.
The sooner, the better.
Amen.

#10 TurnerNation on 10.09.20 at 2:55 pm

Get this. A “health” official in Australia says at :34 seconds into the clip “We must treat this New World Order, this…this new New world of Covid…”
He slipped up and corrected himself.

https://mobile.twitter.com/Lukewearechange/status/1314244095385186304

#11 Flop... on 10.09.20 at 2:58 pm

Maybe I should organize a Dodgeball competition for my fellow commenters, just to let a few people get take a real life shot at each other, so the squabbling of the last couple of days can take a back seat.

It’s not the size of your balls, but the accuracy of your throw(comment) that is important…

M46BC

#12 CL on 10.09.20 at 3:00 pm

All of this and yet we have a housing ‘boom’. Incredible.

#13 it's over guys on 10.09.20 at 3:03 pm

We are living in global communism. Good luck to anyone that has a business, manages money that is not a big bank( monopoly government\private partnership really) not capitalist. Central banks are one of the points of the communist manifesto. I will not be surprised if you don’t show this post on your forum.

#14 FreeBird on 10.09.20 at 3:07 pm

Is group arrested in Michigan aware of this? Blind loyalty or selective knowledge? Confusing.

https://eurometal.net/trump-steel-tariffs-bring-job-losses-to-swing-state-michigan/

https://www.wallstreetreporter.com/2020/10/trump-steel-tariffs-bring-job-losses-to-swing-state-michigan/

#15 Howard on 10.09.20 at 3:09 pm

Another obnoxious humble-brag letter. There should be a warning label on the top of such blog posts.

#16 Rainman on 10.09.20 at 3:10 pm

What’s the difference living in a two million dollar mansion and renting part of it out versus say a 800K and renting the basement. If it pays half your mortgage and you are helping provide accommodation, why not. Let’s not be snobby.

#17 Dolce Vita on 10.09.20 at 3:12 pm

Good advice today Garth.

Speaking of good, Sept. Labour Force Survey just as good.

But FIRST, some statistical observations from the Survey “Population” numbers:

1. We lost 900 Pandemmials (20-24 yr olds), Covid killed them?
2. We gained 26600 Boomers (>55 yr olds), Covid likes them so it didn’t kill them.

Boomers 1
Pandemmials 0

SECONDLY, great, just GREAT results:

378.2K jobs added
Labour Force ↑ by 163.9K people
FT jobs ↑ 334K
PT jobs ↑ 44.2K
Unemployment Rate ↓ to 9% from 10.2%
ON ↑ 167.6K jobs
PQ ↑ 76.7K
BC ↑ 54.8K
AB ↑ 38.5K

One Province that lost jobs was PEI, 800.

ONLY bad news is unemployment rates for the very young, the nations lifeblood (but improved for them slightly):

15 to 19 years 21.3% ↓ from 25.1%
20 to 24 years 17.5% ↓ from 21.9%
25 to 54 years 7.3% ↓ from 7.8%
55 years and over 7.9% ↓ from 8.8%

Male unemployment rate 9.5%, Women 8.5%, all 15 yrs or older.

WHAT a country!

The Little Economy that Could (and DOES).

#18 ElGatoNerodeYVR on 10.09.20 at 3:13 pm

1#1 Overheardyou on 10.09.20 at 2:40 pm
I came across an idea:
Is it possible using your investment portfolio to create a mortgage to buy a property for yourself?
===================
Yes,it is called the Smith manoeuvre
https://milliondollarjourney.com/use-smith-manoeuvre-tax-deductible-dividend-investing.htm

No, it’s not. Not even close. – Garth

#19 Ray Skunk on 10.09.20 at 3:14 pm

Taking on a tenant before the rent strikes and indefinite suspension of the LTB was a risky proposition, now it defies all logic.

And for what? A grass-is-greener proposition that’ll cost a fortune in sunk costs, with no guarantee you won’t miss the old place. That apparently nobody else is biting on.

Sounds like a great idea to me.

#20 baloney Sandwitch on 10.09.20 at 3:14 pm

“GTA Tundra”, hilarious. You do have a way with words. Trump flipped/flopped wildly on the stimulus, like a dying cat-fish. Big article in NYT about another tax scandal on his NY compound and taxes. Very creative, getting a $21 million deduction for houses he could not build and “preserving the environment.”

#21 Freedom First on 10.09.20 at 3:17 pm

I am grateful to be in the position of liking where I live and not having to make any forced moves from either financial or work stress.

I do feel sincere empathy for the many people I am aware of who are facing financial/work/housing problems, due to circumstances beyond their control.

However, there is many people who have quality problems, that is, really only self-made problems, and should try focusing more on gratitude.

Freedom First

#22 Jack Manning on 10.09.20 at 3:21 pm

Garth, you did not mention today that the Bank of Canada is going to do negative interest rates. Forgot and did not want to mention.

The bank said nothing of the sort. – Garth

#23 ElGatoNerodeYVR on 10.09.20 at 3:22 pm

And ofcourse Mr. Hyde says click below

http://letmegooglethat.com/?q=Is+it+possible+using+your+investment+portfolio+to+create+a+mortgage+to+buy+a+property+for+yourself%3F

#24 Scott in Gibsons on 10.09.20 at 3:24 pm

Where did you see Trump flags with the Michigan plotters Garth?

They weren’t BLM flags, if you were wondering. – Garth

#25 crowdedelevatorfartz on 10.09.20 at 3:25 pm

@#9 Expat
“I wish and hope new independent first nations countries will be built on ruins of Canada.”
++++

Soooo, you moved to the Antarctic where no one has conquered an indigenous nation?

#26 ImGonnaBeSick on 10.09.20 at 3:30 pm

#1 Overheardyou on 10.09.20 at 2:40 pm
I came across an idea:
Is it possible using your investment portfolio to create a mortgage to buy a property for yourself?

—-

You can hold your mortgage within your rsp… I’m a bit foggy on the details and never really understood the benefit – there may not be one on such a low interest rate environment…

Your company can also buy you a house which you can rent… Which depending on these wealth taxes coming, may be a solid option…

Low rates = zero benefit of an RRSP mortgage. – Garth

#27 ElGatoNerodeYVR on 10.09.20 at 3:30 pm

#16 Rainman on 10.09.20 at 3:10 pm
What’s the difference living in a two million dollar mansion and renting part of it out versus say a 800K and renting the basement. If it pays half your mortgage and you are helping provide accommodation, why not. Let’s not be snobby.
=============
Simple math ,leveraged downside risk. Do run the numbers and see what 10% depreciation would do to Equity vs. Mortgage , now try again with 20% . Apply to 800k vs. 2Mil … not everything is about cash flow , hard asset value is true wealth.

OK,done for the day with posting, back to work.

#28 Faron on 10.09.20 at 3:34 pm

Thanks for these reminders Garth. I’m currently having to work hard to keep house buying excitement at bay and am not succeeding. She has the FOMO bad. I’m risk averse at the best of times let alone in a pandemic and with a touch of job uncertainty. It’s not a good mix.

#29 AM in MN on 10.09.20 at 3:37 pm

#9 canadian ex-pat on 10.09.20 at 2:54 pm
All real estate in Canada is illegal, because was build on occupied, stolen first nation’s land in illegal settlements.
Canada is illegal entity, fake country, has no right to exist. Canadians are a fake nation, who even has no their own Canadian language.
I wish and hope new independent first nations countries will be built on ruins of Canada.
The sooner, the better.
Amen.

———————————————

This is exactly what my grade 9 niece gets taught in Social Studies in the Vancouver Public Schools. They even e-mail out the homework assignments so they can get forwarded around the family!

As far as first nations building on the ruins, it usually works the other way around…they build ruins on top of the functioning village that was built for them.

#30 R on 10.09.20 at 3:40 pm

I think they should hold a virtual presidential debate with or without Trump. If he shows up, fine, it will be with the ability to mute him out when it is not his turn to speak. If he does not show up, fine, the debate host can just ask Biden questions and he can answer at his leisure. This will give Biden an excellent platform to reinforce his platform, and say we gave Trump an opportunity to come and defend/state his vision for the next four years as president.

#31 Stylite on 10.09.20 at 3:42 pm

Your so humble during rough times Garth! I am more familiar with you siccing the dog on people who pose such questions. Keep up the positive vibes.
Dan, you got off easy..

#32 Linda on 10.09.20 at 3:43 pm

I think Trump is toast. Was looking at trailers for new movies coming out. Saw one entitled ‘Totally Under Control’. It is all about how America gained its #1 position for number of infections/deaths from Covid. Yes, it totally blames the lack of leadership from the top for the 212,111 USA deaths from coronavirus to date (as per today’s CDC update).

As for Dan, obviously he is betting on long term low interest rates, job stability, stellar market returns & tenants who’d be thrilled to dwell in the basement of his shiny new to him abode. Because he wants it. Fine as long as the rest of us aren’t expected to bail him & his cronies out when the balloon collapses – oh, wait, we are already doing that so guess there isn’t really any risk if he gets a new toy, now is there? Can hardly blame the guy for wanting to join the party.

#33 Dolce Vita on 10.09.20 at 3:44 pm

Not as serious as an attempted US State coup d’état BUT Europe losing its mind GARTH, it really is slowly losing over the DAMN VIRUS.

Vignettes from today en Europe:

1. Swiss Blame Italia (like the US Blame Canada)

Swiss blame Italia for it surge in new cases, this sign at the border where Italian Liguria, Campania, Sardegna e Veneto citizens have to quarantine there (Altri = Everyone Else, Frontalieri = Frontier People…3/4 Regions are NOT on the Swiss frontier):

https://i.imgur.com/pg4hA1D.png

To put that into perspective, if Italia were Switzerland yesterday it would have 8246 new cases (Italia had 4458) AND of course there are NO such signs on the French or Austrian borders (if Italia were France it would have 20113 new cases or if Austria 8229 new cases).

2. Germany shitting bricks about COVID, science’s the hell out of it especially with Oktoberfest just around the corner.

So, a week or so ago Angela, on the QT, says if things don’t change Deutschland will have about 19200 new cases by XMas (Weihnachten). So they were all quiet until Bild decided to make a plot of the data:

https://i.imgur.com/jPXGqws.png

and concludes it will be worse, WAY WORSE and earlier. Of course, NO ONE messes with Oktoberfest in Deutschland so a survey went out and:

67% of Germans favor a quarantine in high risk German areas (>50 cases/100K)

so 2/3 of them can frolic without fear. Towards that end this map of suggested areas making the rounds is German MSM where Red > magic 50 (nudge, nudge, wink, wink to Angela):

https://i.imgur.com/xUk3Yo1.png

Italian Conclusion:

Germans must really love their Bier & Bratwurst on Oktoberfest to quarantine 1/3 of their countrymen to get at it w/o fear.

3. The French, a new record in cases today, writing about other countries how bad it is but NOT themselves. Spain blames Madrid for all it evils, Madrid got the courts to overturn the restrictions, Spanish Gov trying to reapply them. I do have a lot of sympathy for Madrid, I mean it’s THEIR fault for Spain’s 12105 cases today, as if:

https://i.imgur.com/7CsIWjH.png

4. Oh ya, I forgot the English with cases surging, 17540 cases today, lost this many Contact Tracing people in their list (people they need to contact since they may have come in contact with someone infected – it was in Excel, Gov UK blames Excel):

https://i.imgur.com/HRuaCAh.png

————————-

You were correct yesterday Garth, every day in 2020 keeps getting nuttier, crazier and worse.

CANADA per the above YOU ARE DOING MUCH BETTER THAN YOU THINK…

#34 Flop... on 10.09.20 at 3:47 pm

Man, this stuff is tough to watch.

My wife is at work today in a classroom with 15 germy kids.

I have been left alone with daytime television.

Which one of us will get infected first…

M46BC

#35 FreeBird on 10.09.20 at 4:06 pm

April in Michigan flags carried by reportedly right wing group targeting Whitmer for lockdown policies incl DT re-election ones. Not sure if same group.

https://www.michiganadvance.com/2020/04/15/whitmer-stay-home-order-protest-turns-into-trump-celebration-with-confederate-flags-and-guns/

https://www.google.ca/amp/s/www.businessinsider.com/fox-host-defends-michigan-protesters-with-confederate-flags-2020-4%3famp

“Many of the 13 boasted on social media of their support for Donald Trump…”

https://www.google.ca/amp/s/www.dailymail.co.uk/news/article-8821499/amp/The-chilling-social-media-posts-videos-Trump-loving-13-militia.html

There is no denying the militia-Trump-Kyle reality. – Garth

#36 TurnerNation on 10.09.20 at 4:18 pm

Last year Ontariowe’s leader declared the Province to be “Open for business”. Today he (again) shut it down.

Last year the PM created Minister for Middle Class Prosperity [sic]. This year….well you guessed it.

Always always take what our globalist elites tell us and flip it 180 degrees to make sense.

Circling back to that twitter user in Ontario, has a screen shot of private message from an “un-named Canadian news reporter” that, this would be a “year long exercise”. I take this to mean that more of the New System must be rolled out under cover of the shut-downs. What else?

#37 Ponzius Pilatus on 10.09.20 at 4:21 pm

#13 it’s over guys on 10.09.20 at 3:03 pm
We are living in global communism. Good luck to anyone that has a business, manages money that is not a big bank( monopoly government\private partnership really) not capitalist. Central banks are one of the points of the communist manifesto. I will not be surprised if you don’t show this post on your forum.
———————————-
2 reasons why Canadians should not be afraid of the commie invasion.
1. The majority of Canadians are immigrants or descendants of immigrants from former communist Countries.
2. And most importantly, our own Greater Fool militia, commanded by IHTC, Sailo and CEF will spring into action and drive the rascals out with their tails between their legs.
So sleep easy, they’ve got your back.

#38 Dolce Vita on 10.09.20 at 4:23 pm

PS:

on my Paris Match Europe expose above I almost forgot…

If Canada were Sweden, it would have this many new cases yesterday (Canada had 2436)

3142

or if Denmark

2888

or if The Netherlands

12655

or if France

10173

Etc.

You are doing MUCH BETTER than you think Canada. Stay the course, do your best to avoid the DAMN VIRUS and don’t forget to enjoy life…as I expect you are.

Ciao d’*Italia

*where you have to wear a mask, like, outdoors or Gov Italia will lighten your pocket by €300-1000 if you don’t.

——————–

For the record Canada, new cases in Europe today…read it and weep (and feel sorry for poor Germany surrounded by Typhoid Mary’s):

https://i.imgur.com/BnoX7Wu.png

#39 Ponzius Pilatus on 10.09.20 at 4:30 pm

#29 AM
As far as first nations building on the ruins, it usually works the other way around…they build ruins on top of the functioning village that was built for them.
——————-
Interesting.
Please explain.

#40 Dolce Vita on 10.09.20 at 4:38 pm

Sorry Garth, ONE last one on the power of Google…Big Brother is INDEED WATCHING.

Ok, so recently I’ve gone to a lot of German MSM sites and subscribe to them on Twitter…for a balanced European view of what’s happening (also, the German mind never ceases to amaze us Italians and I am sure vice versa).

Someone noticed.

Today, I fire up NETFLIX and this appears for the FIRST TIME on the suggested list of things to watch:

https://i.imgur.com/5M4yeeh.jpg

Grazie Google/Netflix or better, Danke.

———————–

Auf Wiedersehen from Italia.

#41 TurnerNation on 10.09.20 at 4:42 pm

Why are these world leaders all saying to “Build Better Back”. What was knocked down? Hint: the old system. It fell in March.

(The New System is global in that all regional sports, culture must be erased. The New System also has had all compassion striped away. It is a system of brutality.
Ask the 100s of thousands of front line and hospitality workers just now given the boot in the GTA. Shut down. The elites economically b0mbed our cites again. And again. Enjoy “Thanks” giving.

Don’t worry as in Cuba you’ll get a small stipend monthly. Though, the weather sucks here.)

When do they being razing all these empty buildings, and building more kandos?

In pictures- – the great reset.

https://twitter.com/NickMargerrison/status/1314526615905370112
“What an amazing co-incidence, all around the world they’re using the same slogan to promote the new world normal…”

#42 Sail Away on 10.09.20 at 4:45 pm

#37 Ponzius Pilatus on 10.09.20 at 4:21 pm

…reasons why Canadians should not be afraid of the commie invasion.

…our own Greater Fool militia, commanded by IHTC, Sailo and CEF will spring into action and drive the rascals out with their tails between their legs.

So sleep easy, they’ve got your back.

———–

You bet. Especially if the invaders are pheasants, grouse, chukars, ducks or geese.

#43 Ponzius Pilatus on 10.09.20 at 4:52 pm

#33 Dolce
Correct me if I’m wrong, but I thought Oktoberfest was cancelled.
In any case, I would be over by now.
For those who are interested in how the Oktoberfest became what it is now, watch Octoberfest – Beer and Blood on Netflix.

#44 yvr_lurker on 10.09.20 at 4:57 pm

If they have secure bullet proof jobs with good pensions, it does not seem too unreasonable for them to make the purchase. I think you are over-stating the selling costs. In my neighbourhood in Kits, two couples we know recently sold their duplexes for around 1.5-1.6M. They each paid between 40-45K (including tax) for the commission cost from their realtor, having negotiated a small decrease in the usual fee. I am not sure where you get the $84,000 in commission plus HST ($12,600) (approximately 97K in total) to sell a 1.4M house with 3 days of work. Are Ontario costs double those of BC?

Having 83% of your net worth in one asset is not defensible. – Garth

#45 Tom Dejong on 10.09.20 at 4:59 pm

Go to BNN and Financial post has 2 articles about the Bank of Canada open to doing negative interest rates. Too bad it will not work meaning helping to regrow the economy but actually make things worse.

Negative rates have always been in the CB toolkit. Nothing new. Tiff says the bank has no intention of using them. And you’d better pray he’s right, since that would mean we were headed into a long, dark economic night. – Garth

#46 YVR Renter on 10.09.20 at 5:02 pm

Dan, don’t count on your income security. Expect the unexpected. Executive Hubby, with bulletproof job, as an invested shareholder in the company, lost his job last year after 17 yrs. They still have our money, private equity, can’t get it out till they sell. Got new job in Nov, lost it just late Sept. Damn Covid. Companies look at those big pay cheques and see a quick way to save when the business is hurting. Just make everyone else work harder. EI and CPP don’t begin to cover rent for a decent, safe, clean place in Vancouver that doesn’t stink of mold (no amenities, just a safe area, albeit a guy carrying a baby was shot the other night a few blocks away in a targeted hit). I’m on CPP disability after spine surgery for a tragically bad back, pays a pittance. Two years ago together we were making $300K…now, we’re pulling RRSPs to pay ICBC & keep the lights on. Hubby will get another job, but my back won’t be allowing me to have the big paying career. Expect the unexpected. We’ve seen real estate roar up then tank back down three times since we became homeowners back in 1983. Listen to Garth! Invest, live within or below your means, retire rich.

#47 3s on 10.09.20 at 5:16 pm

The one thing you can bet on is that the worse things get the more money they’ll throw at it – just stick your hands out. And what about the obligations that come with the debt? They call that inter-generational theft ;) Now go and have another kid…

#48 Tejinder Dhaliwal on 10.09.20 at 5:23 pm

Upgrade if you can afford and it makes you happy. I was planning to upgrade my car with a fancy new truck. But why waste 1000 per month in payments, same can be invested. But I can’t drive around my equities, and just looking at my portfolio is no fun.

#49 earthboundmisfit on 10.09.20 at 5:28 pm

“Then a vaccine, globally distributed in 2021” !?!?!?

In your dreams, man. 2024 at best. Bear in mind, the average “time to market” for a new vaccine is ten years.

#50 Dolce Vita on 10.09.20 at 5:39 pm

#42 Ponzius Pilatus

The Deutschers were doing very well up until the last few weeks. Very few restrictions other than in Berlin, a late night curfew for all intents and purpose. And low new cases per capita or absolute numbers vs. the rest of Europe, save Italia.

You are correct the “official” fest will not happen in München:

https://www.oktoberfest.de/en

but you can well expect it will happen in other parts…if you have been there, as I expect you will have, Deutschland celebrates this Fall “holiday” of theirs across the country with gusto.

They are like Bier and Bratwurst Homing Pigeons when it comes to Oktoberfest (I like the Rhine River valley there, great wine and barbecue sausages besides the beer it seems in every town in that valley, Erbach my fave).

And where else are you going to get to dress up in Lederhosen yelling Ein Prosit and Gemütlichkeit a hundred times over, drunk out of your mind and no one around you bats an eye (if they are even still able).

You are correct Ponz about the official Melee in München but old habits die hard and I do not see the Deutschers letting that one go down for the count with barely a whimper.

They’ll celebrate just not “officially” unless…areas get quarantined.

—————–

Ya I saw that on Netflix Italia, most German TV Movies are pretty good, that one, I passed on. Too “North Americanized”, why you’re seeing it on Netflix Canada – it’s pretty Un Deutscher to me.

#51 Brian Ripley on 10.09.20 at 5:43 pm

My 6 big Canadian city housing chart is up:
http://www.chpc.biz/6-canadian-metros.html

And so is my Plunge-O-Meter:
http://www.chpc.biz/plunge-o-meter.html

In September 2020 Montreal and Ottawa single family detached prices hit new highs again as buyers in Toronto bid up prices as well in detached and pushing townhouse prices to a new peak.

It remains interesting to note that the average of the summed prices of Vancouver + Calgary + Toronto condos is 24% higher than a median priced Montreal SFD. Ex-Calgary it was 55% higher.

It’s whack eh?

#52 TurnerNation on 10.09.20 at 5:49 pm

Prediction: by Q2 2021 we’ll have some type of overt Global Government. Once the USA gets toppled.
That’s why government spending reigns. The know that it’s all funny money at this point.

#53 Tommy on 10.09.20 at 5:53 pm

After perusing these comments, I then read the National Post where the second headline down directly contradicts Garth. The headline reads, “Bank of Canada keeps door open on possibility of negative rates”. Why does Garth Turner spew misinformation and get all huffy when people correct him???

Because the bank said it is not enacting that policy. Duh. – Garth

#54 Drinking on 10.09.20 at 5:53 pm

We all just need to get through this winter and will have a much better understanding on what is next!

People buying to upgrade just for the sake of it are “Greater Fools”, those who are, and can afford it, mostly for the fact that the extended family will need someone trustful to look after them (as a family should do) then I can see there point. Wow, what a screwed up world, stay safe everyone!

#55 Petulant on 10.09.20 at 5:54 pm

Peace is better than war. Cooperation is better than poverty. Self determination is better than tyranny. Security is a built in mechanism of mutual prosperity. Let us never forget our communities are a mirror of ourselves.

“With, or without. And who can deny its what the fighting is always about?”

https://www.youtube.com/watch?v=eGwtXfIH3bc

Enjoy what really matters in life this weekend friends.

Happy Thanksgiving to all!

#56 Trojan House on 10.09.20 at 5:58 pm

Here is a prime example of a Greater Fool. Was listening to one of the local country radio stations today. They were ending one of their contests where one of two people would win $50,000. Pretty exciting stuff. The two contestants had to listen to quick snippets of country songs and correctly guess the band. Whoever guest the most correct bands won.

The nice lady who ended up guessing every band correct won the 50 large. When asked what she would do with the money, she said they were building a house and that the money was already spent.

#57 Dog Breath on 10.09.20 at 5:59 pm

#9 canadian ex-pat on 10.09.20 at 2:54 pm

All real estate in Canada is illegal, because was build on occupied, stolen first nation’s land in illegal settlements.
—————————————————————
Oh, I love fairy tales! This one about the Canadian aboriginals is a good one and very popular. It’s fed to school children on a regular basis. But I have to say my favorite fairy tale is still “Goldilocks and the Three Bears”.

#58 AGuyInVancouver on 10.09.20 at 6:01 pm

“The Stranger in My Basement” sounds like a horror movie, not a housing upgrade. Why would anyone give up being mortgage-free for that?

Wall Street – why wouldn’t they weclome Biden with open arms as a respite from lurching from chaos to chaos under Trump? You can plan for higher corporate taxes.

#59 Victor V on 10.09.20 at 6:07 pm

Goodbye open houses?

https://www.bnnbloomberg.ca/ontario-real-estate-association-calls-for-halt-to-open-houses-as-covid-19-cases-rise-1.1506291

#60 I think ... on 10.09.20 at 6:12 pm

Trump singlehandedly turned US politics into reality politics. The question is weather the US people say “you are fired” or not.

#61 Pete from St. Cesaire on 10.09.20 at 6:21 pm

#51 TurnerNation on 10.09.20 at 5:49 pm
Prediction: by Q2 2021 we’ll have some type of overt Global Government. Once the USA gets toppled.
That’s why government spending reigns. The know that it’s all funny money at this point.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
World government already showed its face back in March when they shut down the whole world (Switzerland to Haiti, South Africa to Alaska, Russia to Brazil) all in one fell swoop.
Yes, it’s all funny-money (the end of this cycle of FIAT currency), the money printing will increase.

#62 El presidente on 10.09.20 at 6:22 pm

He turned the whole planet into a gameshow….now it makes sense!

https://twitter.com/BoratSagdiyev/status/1314645336049160192?s=19

#63 Orange Man....Orange on 10.09.20 at 6:33 pm

#24 Scott in Gibsons on 10.09.20 at 3:24 pm
Where did you see Trump flags with the Michigan plotters Garth?

They weren’t BLM flags, if you were wondering. – Garth
++++++++++++++++++++++++++++++++++

Actually, the Michigan nut jobs are virulently and violently Anti-Trump and like their urban cousins, Antifa, are dyed-in-the-wool Anarchists.

Not a Trump flag to be found anywhere those goofs; they hate his guts.

The guys I’m more worried about now inhabit “Mainstream Thought”

https://twitter.com/DailyCaller/status/1314660689005477894

#64 Nonplused on 10.09.20 at 6:42 pm

“(which was a blessing from God, he says)”

Yes, that was a strange thing to say. I’m not sure he meant catching the virus or the fact it seems like he will survive and thus go off the “high risk” list or if he was referring to the treatments he received, which may now be made more readily available. After all, he has been volunteering as a hydroxychloroquine test subject for some time now, although I suppose this proves hydroxychloroquine does not prevent infection, so it should probably only be used once you catch the covid.

Or maybe it was because now he doesn’t have to do anymore debates with Chris Wallace and the cutout of Joe Biden.

—————————-

As for Dan, I can’t imagine living in a $2 mil house on $200,000 a year even if it is mostly paid for. That is a lot of money to have in one place and if there is a price correction it is going to scale with the value of the property, (a 10% drop on $2 mil is $200,000 right there, as the current owner is currently realizing).

Being from Calgary, I can’t really fathom these numbers that get thrown around in Vancouver and Toronto. Near Calgary $2 mil will get you a McMansion on 20 acres with a riding arena and a pony, only 45 minutes from downtown in rush hour. Multiply that by 2 if it snows though. Mind you the one thing we don’t have is jobs but that was a big problem for Alberta long before covid, and Trudeau seems bent on making sure that problem only gets worse.

—————————

This US election is absolutely the most entertaining thing I have seen on TV in a long time, probably since the first Iraq war, but it is shock or horror entertainment, not anything pleasant.

I think Biden could actually win the election but he won’t be in office long, so president Harris it will be. It will also be the end of the GOP and the US will become a one party system. The red states aren’t going to like that but by the end of the first term Harris will have stacked the courts and ended the electoral college. If that happens, it is time to head for Galt’s Gulch, if you can. Actually I would say head out now.

#65 macduff on 10.09.20 at 6:46 pm

Are there any advantages to using your RRSP to mortgage a home in another country if you don’t want to pay the high interest rates in that country (i.e. 6%+)? Is it possible for an expat?

#66 Flop... on 10.09.20 at 6:49 pm

#56 Trojan House on 10.09.20 at 5:58 pm
“Here is a prime example of a Greater Fool. Was listening to one of the local country radio stations today. They were ending one of their contests where one of two people would win 50,000.”

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

Hey Troj,

50k to have to listen to the country music?

That’s not enough…

M46BC

P.S, it’s only jokes folks!

Here is a country style mash-up version of a couple of songs from one of my favourite bands, The Bleachers.

It’s highly unlikely that you’ve heard this song before.

See what you think of that twang…

https://m.youtube.com/watch?v=KU7_V0A3eEI

#67 yorkville renter on 10.09.20 at 6:52 pm

Garth, if you dont think ‘Dan’ can afford to move then I’m afraid you think no one should…

mortgage would be 3x income… hardly something to sweat about. I’m sure Dan enjoyed growth on his place so the idea of ‘overpaying’ isn’t as meaningful.

Dan, get some balls, offer $1.7m and see what happens

It’s not about being able to afford it, but being foolish enough to do so. – Garth

#68 Burnaby Boy on 10.09.20 at 6:52 pm

This week’s “Burnaby Now” reported that the city hall has begun to recall staff to work in the office rather than from home.

#69 Quintilian on 10.09.20 at 7:00 pm

“They each paid between 40-45K (including tax) for the commission cost from their realtor, having negotiated a small decrease in the usual fee. ”

Why anyone uses a listing realtor is a mystery to me.

Do they not know about the interwebly thing?

Stuck in the 70’s is the only clear explanation.

#70 LG on 10.09.20 at 7:04 pm

“ Meanwhile some right-wing militia nutjobs tried to start a civil war in Michigan. Not that far away. And maybe an indication of what the US post-election months will bring. Scary guys with black pickups, Trump flags and AR-15s. Yikes.” -Garth

Wow, are those Anarchists Trump supporters? I saw saw a video of them spewing hate for Trump. It is confusing.

Give us a link of the Michigan militia Members dissing Trump. Also send one of Trump decrying the kidnap and insurrection plot. He’s the law-and-order president, right? – Garth

#71 Contagion on 10.09.20 at 7:21 pm

So, last night my son’s Scout group met outdoors to play frisbee golf and hopefully social distance (they didn’t social distance). Of course you are suppose to review the “checklist” before bringing your child, and one couple hadn’t realised that if you are awaiting on a covid test for someone in the household you can’t come. Then they realized it and came and pulled their kid out, but by then the damage was done. Now I seriously doubt there was any covid and am not really worried about it, but I tell this story just to highlight how hard it is to get all these safety protocols to work. They just don’t. Somebody somewhere is going to screw something up. Every time you see someone in the co-op with the mask over their mouth but not their nose just admit it isn’t the masks that don’t work, it’s the people. Especially the kids.

I wonder, if we had put all the money we put into CERB and the GDP that was lost due to the shut down of the economy into Sprung emergency hospital tents instead of shutting down the economy, which would have cost less? $350 billion will buy a lot of Sprung structures. I don’t know if they could have built them fast enough but it would have meant more jobs, not less, and they last a long time so if nothing else you would at least have them. Sure, medical staff would be very thin but how long does it take to train someone to put oxygen on a patient? More jobs. Instead we handled this thing by paying people to stay home and avoid something that is not avoidable, and really damaged GDP.

And the damage! The airlines will never recover until their debt is disposed of. The vacation industry including cruise lines and even Disney may never recover. Cinemax may never recover. Offices may never recover. Scouts and youth sports may never recover. Schools are forever changed. These changes are permanent, all because the MSM freaked out to freak us out. People had the option to wear a mask without being told they couldn’t go to the pub.

This also highlights the folly of universal healthcare. Why do we have to shut down the entire economy to protect a few people that won’t wear a mask? Let them reap the results of their decisions. It is no different than smoking. It should be cheap as it would be without taxes, but rather than taxing it to death you should have to pay if it is killing you. That alone is all that is needed. Instead, they tax cigarettes saying we don’t want you to smoke as we have to pay for your treatment once you get the cancer. Says who?

Covid is not a bigger issue than smoking. Actually in these times smoking is good, because then those around you can know when the covid droplets are coming at them.

#72 J. Canuck on 10.09.20 at 7:23 pm

As the late, great Ellen Ripley said … “Did IQs just drop sharply while I was away?”

Sittin’ pretty, rolling along with no problems, but YOU gotta shove a stick in the spokes. Some people don’t know when they got it good.

#73 Steven Rowlandson on 10.09.20 at 7:25 pm

DELETED

#74 Nonplused on 10.09.20 at 7:49 pm

“Give us a link of the Michigan militia Members dissing Trump. Also send one of Trump decrying the kidnap and insurrection plot. He’s the law-and-order president, right? – Garth”

Cheese and crackers Trump is taking credit for catching them. Google folks. It’s easy to use.

He did diss the governor because she unleashed a tirade of unsubstantiated insults, including “neo-nazi”, And she wants to defunding the police. The “racism” is hard to argue either way, but “neo-nazi”???? His son-in-law and daughter and the resulting children are all Jewish of religion if not totally genetic. Trump also has many Jewish backers both in banking and politically. It is crazy fake news to call Trump a “neo-nazi”, unless that term has somehow come to mean really friendly with Jews who have money.

And as to defunding the police, most blacks do not want that. They have no one else to call. The rich gated communities will hire their own police forces and the richer ones already have them. But who is a poor person going to call for help if there are no more police? “Defund the police” is a drug gang funded movement. “Defund the police” means “drug lords”. Do the thinking people.

Garth I know you are busy, so you can’t fact check everything. But I am starting to think you should put me on staff. You need help. It is overwhelming you. No insult intended, you are but one man. A great man. But one man.

So help me. Link to the governor calling Trump a Nazi? I missed that. – Garth

#75 Nonplused on 10.09.20 at 8:01 pm

“Low rates = zero benefit of an RRSP mortgage. – Garth”

Except what if you invest the money in ETFs in an inflationary environment? Oh wait, I think I answered that in my head. You can’t earn much on the mortgage in your RRSP and the ETFs are speculative.

#76 Drinking on 10.09.20 at 8:03 pm

#72 J. Canuck

Humour us; meaning what?? Love to hear your story; meaning, it better be good or you are just another troll!

Bring it on, can’t wait to hear it! Expect what ever from readers…

#77 Bert Andrews on 10.09.20 at 8:03 pm

Seeing as US politics affects Canadians significantly, would it hurt to consider this:

“Something funny happened in the midst of all those recent national polls showing Democratic presidential challenger Joe Biden extending his lead over President Donald Trump.

It turns out Americans are really happy with the job Trump is doing.

At least that’s what a new Gallup poll sure seems to be telling us. The survey shows that 56% of registered voters say they’re better off than they were four years ago. That’s better than the 45% in 2012 who said they were better off than they were in 2008 and the 47% who said the same in 2004 compared to where they were in 2000. It’s even well ahead of the 44% who felt better off in 1984 compared to 1980.

That’s significant since the incumbent presidents Barack Obama and George W. Bush won re-election in 2012 and 2004 respectively, and Reagan won a second massive landslide in 1984.

By contrast, President George H.W. Bush lost his re-election bid in 1992 when Gallup’s survey showed just 38% of voters felt better off than they were in 1988. Not coincidentally, Bush Sr. also had an approval rating of an almost identical 37% going in Election Day in ’92.

So where’s the disconnect coming from between the Trump the candidate and what’s happened in America since 2016?

The answer is all in the wording of the Gallup Poll; specifically the word Gallup left out in the survey.”

Read the rest of the article by CNBC Editorial contributor Jake Novak at http://www.linkedin.com/pulse/stick-issues-i-can-make-you-trump-supporter-10-minutes-jake-novak

For those with TDS or not …

How much of your opinion was assigned to you without you knowing? If you can’t read this article without acknowledging that the reporting on the Orange Man is skewed, you may have some issues.

https://www.scottadamssays.com/2019/04/30/the-fine-people-hoax-funnel/

If you think any conservative in the US is going to get fair treatment from a media 90% + made up of self-identifying Dems and liberals, you may some cognitive blindness.

Now think about what bill of goods the Canadian media are selling you

#78 tccontrarian on 10.09.20 at 8:07 pm

Hey Dan,

Be a man and buy that ‘upscale’ home you’re eyeing in your neighbourhood. And make sure you bid $200k over asking to – you know, not lose out by an even greater fool.

After 10 years you ask this? Ok, you can blame Cov-id – it gets blamed for everything else so you’re covered.

Question: what has ’45’ to do with Trumpster? I guess I could google but blog-dogs here are way more reliable!
DuckduckGo!

#79 The Big Short on 10.09.20 at 8:10 pm

I love the comments from the likes of TurnerNation, Flop, and others. As soon as I see their comments, I know I can just skip over them and save lots of time. Couldn’t tell you the last time i read something from any of them. If only Garth could implement a solution to allow the steerage section to vote on these comments…..Hmmm.

Seriously, is there a prize for writing such long winded diatribes on this immortal portal?

#80 Arthur Vanden Berg on 10.09.20 at 8:17 pm

“So help me. Link to the governor calling Trump a Nazi? I missed that. – Garth”

I’m sorry, she used “white supremacists”. I would think the 2 terms are interchangeable to some extent.

Link please. – Garth

#81 crowdedelevatorfartz on 10.09.20 at 8:19 pm

@#72 J Canuck
“As the late, great Ellen Ripley said … “Did IQs just drop sharply while I was away?””

++++

God bless Sigourney vs the Aliens.

The best line in the movie was Bill Paxton who was freaking out after the first Alien encounter.

https://www.youtube.com/watch?v=5tQXrw1-hPc

#82 Cottagers STAY THE HELL AWAY! on 10.09.20 at 8:19 pm

Don’t come up here this weekend, you INBRED SELFISH IDIOT SOUTHERN HILLBILLIES!

Covid 19 is spiking and we DON’T NEED YOU putting a burden on our healthcare system.

Just.

Stay.

Home.

#83 Drinking on 10.09.20 at 8:26 pm

#71 Contagion

That was an interesting post; for the most part I am with you. The issue is that we “just do not know” as of yet! Get over the winter and then we can either give the royal salute to the one’s that placed us into this situation or take strategic steps and move forward.. It is a shit show!

#84 Paul on 10.09.20 at 8:29 pm

Let’s try and be fair about Trump’s stance on White supremacy ect.

https://www.youtube.com/watch?v=RGrHF-su9v8

Eighty million people heard what they heard. Too bad for your guy. – Garth

#85 Drinking on 10.09.20 at 8:31 pm

#81 Cottagers STAY THE HELL AWAY!

I will come by with a case of stubbies! See you at five.:)

#86 crowdedelevatorfartz on 10.09.20 at 8:37 pm

@#79 The Big Short
“Seriously, is there a prize for writing such long winded diatribes on this immortal portal?”
++++

sara?

#87 Stan Brooks on 10.09.20 at 8:46 pm

The Canadian’s understanding of communism and socialism is pathetic.

It normally included guaranteed cheap housing, education and work in the former eastern block.

Subsidized housing and social benefits/pensions in western Europe.

Now somebody point out to me please where is that subsidized housing with rents through the roof, houses at 2 mils in crappy GTA and practically no public pension system (or one that pays increasingly inflated nothing), in a supposedly ‘rich/G7’ country.

On the contrary, it is a class warfare with the poor have not’s soon to pay for the air they breath. With no jobs.

Socialisms and communism exclude individual ownership of capital, do you believe our elite owners will allow that?

It is just smoke and mirror folks, with higher taxes only for the remaining few from the middle class.

The rich will never be truly taxed, if you believe that, you are delusional.

Cheers,

#88 Elon fanboy on 10.09.20 at 8:52 pm

“ right-wing militia nutjobs tried to start a civil war in Michigan”

They weren’t ‘right wing’. False narrative set by the media.

They are anarchists. One of the arrested ring leaders had the anarchist flag behind him in a video, and called Trump a tryant and the enemy.

https://twitter.com/robbystarbuck/status/1314326553506000897?s=21

#89 Bytor the Snow Dog on 10.09.20 at 8:53 pm

There was once a Wolf who got very little to eat because the Dogs of the village were so wide awake and watchful. He was really nothing but skin and bones, and it made him very downhearted to think of it.
One night this Wolf happened to fall in with a fine fat House Dog who had wandered a little too far from home. The Wolf would gladly have eaten him then and there, but the House Dog looked strong enough to leave his marks should he try it. So the Wolf spoke very humbly to the Dog, complimenting him on his fine appearance.

“You can be as well-fed as I am if you want to,” replied the Dog.

“Leave the woods; there you live miserably. Why, you have to fight hard for every bite you get. Follow my example and you will get along beautifully.”

“What must I do?” asked the Wolf.

“Hardly anything,” answered the House Dog. “Chase people who carry canes, bark at beggars, and fawn on the people of the house. In return you will get tidbits of every kind, chicken bones, choice bits of meat, sugar, cake, and much more beside, not to speak of kind words and caresses.”

The Wolf had such a beautiful vision of his coming happiness that he almost wept. But just then he noticed that the hair on the Dog’s neck was worn and the skin was chafed.

“What is that on your neck?”

“Nothing at all,” replied the Dog.

“What! nothing!”

“Oh, just a trifle!”

“But please tell me.”

“Perhaps you see the mark of the collar to which my chain is fastened.”

“What! A chain!” cried the Wolf. “Don’t you go wherever you please?”

“Not always! But what’s the difference?” replied the Dog.

“All the difference in the world! I don’t care a rap for your feasts and I wouldn’t take all the tender young lambs in the world at that price.” And away ran the Wolf to the woods.

#90 Stan Brooks on 10.09.20 at 8:54 pm

Converting basic necessity/housing in a cold country to an incentivized ‘investment’ should be a considered a crime.

So is neglecting the public pension system benefits when cost of living skyrockets. In eastern Europe pensions are increased north of 5-10 % yearly.

What kind of idiots will get a kick from ‘living in 2 mil house’ that their kids can’t afford and they can’t sell is beyond me, but apparently that trick works as the poor shmucks feel rich and emboldened to get even deeper into debt while paying ever higher property taxes.
Incredible, when watched from outside.

As for the ‘free benefits’ just watch for when the currency starts to dive.

Cheers,

#91 Stone on 10.09.20 at 9:00 pm

Now there’s a lot we don’t know about this guy. Like his profession, kids, pension details, retirement plans, investment assets, job security or family obligations (needy parents, clingy children). No real estate decision can be made in isolation. And this is a doozie. Especially in days like these.

———

Garth, I suspect you got the whole picture for Dan and his household.

On that basis, This is the path I would take.

Sell current house. Likely net about $1,150,000. Invest it in a B&D portfolio. Rent a nice place potentially equivalent to that $1.8 million house they were looking to upgrade too. Forget about the basement renter. Do you really want a pot smoking, beer guzzling low life renting your basement? Or were you thinking a hot 20 year old female instagram model who likes to sunbath nude in the backyard is going to move into your basement? I’m betting on the pothead.

Dan and co currently make $200,000. If you apply a 4% withdrawal rate on their portfolio, that means they would need about $5 million invested to maintain their current standard of income generation after retirement. With inflation added, that means even more is needed. Therefore, Dan and company will need to work hard to grow that current $1,150,000 to get it to $5 million. At 6% return annually without any further capital injections, their portfolio would grow to about $3.7 million. Not looking good.

They’d have to add $40k annually to that portfolio from their employment income to get there.

If you add 2% annual inflation to their employment income, that means in 20 years, their $200,000 current employment income would be the equivalent of $300,000 (I’m not going to even think about adding any raises at this point). Therefore, their $1,150,000 investment portfolio would need to grow to $7.5 million. That means they would need to inject about $105,000 per year from their employment income to achieve that. That’s hefty.

Dan, think it over. Do you really think you can afford to buy this house? Maybe you and the household should invest in your future cashflow instead.

Also, are you sure your employment income is secure?

#92 Sara on 10.09.20 at 9:01 pm

#1 Overheardyou. Keep in mind that if you borrow from your portfolio via an RRSP mortgage, you incur an opportunity cost in that you are no longer able to invest that money which you have loaned to yourself. Keep the portfolio invested wisely(i.e. listen to Garth’s laws of smart investing, or pay him to do it for you). Borrow the money for the house at less than what you would earn in a Garth approved portfolio. The difference between the two belongs to you.

#93 mj on 10.09.20 at 9:05 pm

I think the bank of Canada still has a few months to consider going negative. I’m surprised we are at 0.25 still. Things are way worse than 2016, and back then was the same rate. I can see them going to zero, because it’s going to get worse for the economy before it gets better.

#94 the Jaguar on 10.09.20 at 9:10 pm

Well kids, it’s Thanksgiving weekend and looks like Loonie Doctor was on to something given Dougie Ford’s big announcement today.

Seems like a lack of discipline might be the problem, or maybe it’s just all those peeps crammed into the Canadian equivalent of Gotham City.
The way things are going it won’t be long before the finger pointing, accusations of treachery, deceit and fisticuffs and bar fights break out.
I suppose that might be cleansing in a way. Get all those simmering but less than well meaning ‘feelings’ out in the open. We may be on the brink of a grand revolt or patriotic revolution. Or as Thomas Jefferson said…’The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants. It is its natural manure.”
There’s no doubting the bit about manure.

#95 Orange Man....Orange on 10.09.20 at 9:15 pm

Give us a link of the Michigan militia Members dissing Trump. Also send one of Trump decrying the kidnap and insurrection plot. He’s the law-and-order president, right? – Garth
++++++++++++++++++++++++++++++++++++

Here’s a video link to the Trump hater/Anarchist GT.

https://nypost.com/2020/10/09/man-accused-of-whitmer-kidnap-plot-ripped-trump-as-tyrant/?utm_source=NYPTwitter&utm_medium=SocialFlow&utm_campaign=SocialFlow

And here’s Trump expressing disgust about the kidnap plot (and other things of course) on his Twitter feed.

Donald J. Trump
@realDonaldTrump
·

·
23h

Governor Whitmer of Michigan has done a terrible job. She locked down her state for everyone, except her husband’s boating activities. The Federal Government provided tremendous help to the Great People of Michigan. My Justice Department and Federal Law Enforcement announced…

…today that they foiled a dangerous plot against the Governor of Michigan. Rather than say thank you, she calls me a White Supremacist—while Biden and Democrats refuse to condemn Antifa, Anarchists, Looters and Mobs that burn down Democrat run cities…
23h

…I do not tolerate ANY extreme violence. Defending ALL Americans, even those who oppose and attack me, is what I will always do as your President! Governor Whitmer—open up your state, open up your schools, and open up your churches!
Show this thread
Donald J. Trump
@realDonaldTrump

#96 Sara on 10.09.20 at 9:23 pm

#15 Howard on 10.09.20 at 3:09 pm
Another obnoxious humble-brag letter. There should be a warning label on the top of such blog posts.
===================
For real? Have you hung around here much. Read the comments of SailAway? Consider that your warning.

#97 ImGonnaBeSick on 10.09.20 at 9:24 pm

#78 tccontrarian on 10.09.20 at 8:07 pm

Question: what has ’45’ to do with Trumpster? I guess I could google but blog-dogs here are way more reliable!
DuckduckGo

45th President

#98 C V on 10.09.20 at 9:24 pm

# 79 The Big Short

Trust me you are not the only one. I think Turnernation has a list of a hundred doomsday comments and just recycles them over and over. But I don’t really know because I haven’t read any in so long.

Garth there has to be some more moderate emails that yu receive without very obvious answers. With regards to home ownership- there must be some people in other areas of Canada(outside of Toronto and Van) that are in markets (Alberta, Saskatchewan, Manitoba) in which home ownership is a more complicated decision that just “why would you sink $2million into a single asset.”

#99 belly rubs on 10.09.20 at 9:26 pm

#78 tccontrarian on 10.09.20 at 8:07 pm

Question: what has ’45’ to do with Trumpster? I guess I could google but blog-dogs here are way more reliable!
DuckduckGo!

….

Hint: what has ‘1’ to do with George Washington? Tor browser.

Dan, growth vs value. If something has value, then it might be worth a loss short term. I currently shifting from growth (tech) to value (utility). A question might be why not hold back half your profit, buy the new place with the other half if you still qualify at low interest, and invest the remainder. And yes, looks like a 600k spread between have and want.

#100 Sara on 10.09.20 at 9:33 pm

#208 Lambchop on 10.09.20 at 1:29 pm
To Sara,

What is your purpose here, in the comments section?
….

Most of the people you attack seem to be more intelligent than you….
=====================

Except for you. Ha!

Kidding.

I’m sorry Soggy. I left you out the other day in my list of obnoxious blog dogs. My apologies. You have not been forgotten.

#101 belly rubs on 10.09.20 at 9:35 pm

The interesting aspect about the Michigan Gov is the recent supreme court ruling. Apparently, she is ruling without authority. The emergency powers act expired in April.
Link, Detroit Free Press: https://amp.freep.com/amp/3596332001

So she deserved to be kidnapped? I see. – Garth

#102 Sara on 10.09.20 at 9:43 pm

#208 Lambchop

Not Soggy. My apologies.

#103 crowdedelevatorfartz on 10.09.20 at 9:46 pm

Gee.

What a surprise.

Trump isnt going to participate in the next election debate…….
I guess even he realizes a virtual debate can cut his boorish bullying interruptions……

#104 crowdedelevatorfartz on 10.09.20 at 9:54 pm

@#221 Life’s Good if you’re a TV

“You asked for a source: From NY POST
Brandon Caserta, accused of Gretchen Whitmer kidnap plot: Trump is a ‘tyrant’”

++++
You tossed that rebuttal in Yesterdays comments?

#105 Sara on 10.09.20 at 9:59 pm

#75 Nonplused on 10.09.20 at 8:01 pm
“Low rates = zero benefit of an RRSP mortgage. – Garth”

Except what if you invest the money in ETFs in an inflationary environment? Oh wait, I think I answered that in my head. You can’t earn much on the mortgage in your RRSP and the ETFs are speculative.
=========================

I’m glad you answered your question in your head, because it didn’t make a lot of sense to me (not that that means much…lol).

What do you think the speculative nature of ETFs have to do with determining whether or not to hold a self directed RSP mortgage? From what I see it is a basic math question. In the current interest rate environment, does it cost me more to borrow from myself or from the bank?

Obviously we need a refresher on RRSP mortgages. – Garth

#106 Paul on 10.09.20 at 10:04 pm

#84 Paul on 10.09.20 at 8:29 pm
Let’s try and be fair about Trump’s stance on White supremacy ect.

https://www.youtube.com/watch?v=RGrHF-su9v8

Eighty million people heard what they heard. Too bad for your guy. – Garth
————————————————————————————————
Not my my guy, no dog in that fight. Just an observation

#107 Sara on 10.09.20 at 10:12 pm

#105

Cool. I look forward. You’ve been much to evasive on that topic, imo.

#108 Sara on 10.09.20 at 10:18 pm

What is it about typos that are not apparent until the exact second after your thumb Submits?

Even before you see it, you know it, but by then it is too late. Those damn typos, for all the world toO see what an idiot you are. LOL.

#109 Classical Liberal Millennial on 10.09.20 at 10:26 pm

There’s a lot of great advice Garth doles out 300 some odd days per year. “Live quietly among the masses” continues to be one of his best. Stay invested. Stay liquid. Stay within your means.

#110 Faron on 10.09.20 at 10:27 pm

#88 Elon fanboy on 10.09.20 at 8:52 pm

Wow, the gaslighting here is breathtaking. Watching the unfolding of Trump apologism and rightwing conspiracy building is truly alarming.

The leader of one of the militias has social media images showing him in a MAGA hat and tweets supporting trump.

https://www.dailymail.co.uk/news/article-8821499/amp/The-chilling-social-media-posts-videos-Trump-loving-13-militia.html

These may be anarchists, but they are approaching it from the right and are extremists (one claims that being required to have electricity is tyranny) by any definition.

And the Venn diagram relating Trumpers, Dont Tread on Me/boogaloos, and normal people will have strong overlap in one pair and zero overlap in others.

Regardless, an endless stream of violent messaging and tweets like Trump’s “Liberate Michigan” tweet are highly encouraging of this kind of crap.

Nice try though ElonFBoy

#111 Doug t on 10.09.20 at 10:34 pm

#79 big shorts

Sara?

#112 Faron on 10.09.20 at 10:40 pm

#106 Paul on 10.09.20 at 10:04 pm

#84 Paul on 10.09.20 at 8:29 pm

You can find similar videos of him stumbling over the issue (most recorded a few days before these disavowals). Trump’s expertise is muddying the waters just enough so that he can be anything to enough people to be liked and get elected and have an iota of deniability against those who see him for who he is.

#113 Faron on 10.09.20 at 10:48 pm

#77 Bert Andrews on 10.09.20 at 8:03 pm

You are deluded. And, with any luck, the train our collectively more humane future will be leaving the station on Nov 4th and you wont be on it.

#114 jess on 10.09.20 at 10:54 pm

In 2019, we tracked 940 hate groups across the U.S

https://www.splcenter.org/hate-map

….looks like the Durham report will be late and donald jr is practicing his stand up to the 66 groups listed in Florida

#115 Sara on 10.09.20 at 10:58 pm

Is it just me or is the coming US election hyper-charged for Canadians? Having lived in Canada my entire life (too long to admit to), I’ve never been this anticipatory (yes CEF it’s a freakin word) with respect to a US election.

Can’t wait to see Trump as history.

#116 jess on 10.09.20 at 11:05 pm

…”The orders covered mask requirements, limitations on public gatherings, workplace safety standards and expanding unemployment benefits.

Lansing — More than 100 members of faith-based groups and churches gathered on the Capitol lawn Thursday to support efforts to loosen Gov. Gretchen Whitmer’s restrictions in Michigan in a rally dubbed “Let MI People Go.”

The previously planned gathering by Stand Up Michigan occurred as news broke that state and federal agents had arrest at least 13 individuals who allegedly planned to kidnap Gov. Gretchen Whitmer in part because of her restrictive COVID-19 rules.

#117 dogwhistle on 10.09.20 at 11:25 pm

#30 R on 10.09.20 at 3:40 pm
I think they should hold a virtual presidential debate with or without Trump.

———————————————–

Remember what Clint Eastwood did a few years ago?

Biden could talk to an empty chair, it would be hilarious and make the Trumpster mad(der)

He could even tell a few jokes about that frozen no man land up north where real estate is more expensive than in sunnier climes. Lol

#118 dogwhistle on 10.09.20 at 11:34 pm

#82 Cottagers STAY THE HELL AWAY! on 10.09.20 at 8:19 pm
Don’t come up here this weekend, you INBRED SELFISH IDIOT SOUTHERN HILLBILLIES!

————————————-

Ha. I live in ‘cottage country’.

No need to import inbred selfish southern hillbillies. The local born and bred hoser rednecks exist in sufficient quantity.
They can be found drunk in pickups or at the bottom of lakes still riding their snowmobiles…
You won’t find many reading a book.
It’s a colder, snowier version of Missisipi. lol

#119 TurnerNation on 10.09.20 at 11:43 pm

AHEM. For your health Comrade!?!?

ALMOST A MONTH AGO. No wonder some call it a Plan…
The twitter screen shot says Phase 1 or 2 lockdown by Thanksgiving . Clear as day. How’d the #s on the telescreens come to be? Matching the plan.

This all has been planed out, for decades, years. The winter to kill all small business. What else.

Please share this far and wide:
……….
· Sep 16
Be informed Ontario.
Another lockdown is planned.
Businesses brace yourselves.
We need constitutional lawyers, MPs to step up and do something.
They’re not listening to the people.
Most won’t get through another lockdown
https://twitter.com/randyhillier/status/1306333255583621125

#120 Nonplused on 10.10.20 at 12:03 am

Link please. – Garth

It appears to have been scrubbed, but Trumps responses haven’t been. It was on twitter. But there is still lots of Trump the “white supremacist if you google “Gov. Gretchen Whitmer white supremacist” including Trump’s response to what I assume is a now deleted tweet. Maybe Trump was making it up.

#121 Nonplused on 10.10.20 at 12:09 am

“So she deserved to be kidnapped? I see. – Garth”

No obviously not and if there was a serious plot those people were kooks, or more likely idiots. I wouldn’t wish a kidnapping or even covid on Trudeau as much as I wish we could vote him out. We have to return to some sort of non-violent civility and discourse or democracy will not last.

#122 Dumb Wealth on 10.10.20 at 12:14 am

5% sales commission + land transfer tax + lawyer fees, etc. = around $80-100k for the full sell-and-buy transaction.

Unless willing to lose a big chunk of money, Torontonians are trapped in the city. A immobile workforce is not a great characteristic for an economy.

And do those willing to dramatically increase their debt load to get a bigger house in the city ever plan on retiring?

#123 Nonplused on 10.10.20 at 12:15 am

“Obviously we need a refresher on RRSP mortgages. – Garth”

Yes I think that would be good. I understand, I think, how it used to be a good idea when you could pay yourself interest that would accumulate tax free in your RRSP until you withdrew the money, but now that rates are so low I am not sure it still remains the best strategy. Maybe TFSA’s are better? Or maybe you should still get an RRSP mortgage and use the money to top up your TFSA? So yes I think a revisit of the topic might not hurt given the extremely low rates. Maybe nothing has changed, but on the other hand the money is really cheap right now.

#124 zoey on 10.10.20 at 12:16 am

Agree about not buying the particle board home but the stock market is not the place either .. its run by crooks. Upgrade your current house or get out of the city.

#125 morrey on 10.10.20 at 12:22 am

RE> Nonplused on 10.09.20 at 7:49 pm

so do you want to provide a source and a url? or do you just wish to spin?

#126 Built to Spec on 10.10.20 at 12:51 am

Let’s try and be fair about Trump’s stance on White supremacy ect.

https://www.youtube.com/watch?v=RGrHF-su9v8

Eighty million people heard what they heard. Too bad for your guy. – Garth
– – – – – – – – – – – – – – – – – – –

Sorry I missed it – what did eighty million people hear – what are you talking about?

#127 canadian ex-pat on 10.10.20 at 12:59 am

Your Canada is schizophrenic fake country suffering from bi-polar disease:
Are you democracy or monarchy?
You cannot be a little pregnant, or yes or no.
Or democracy or monarchy.
British Monarchy committed crimes against humanity during centuries.
Canadian heritage is genocide, massacres, ethnic cleansing, stolen land and resources.
“Canada” was established by suckers and losers royalist run from USA.

#128 SoggyShorts on 10.10.20 at 1:42 am

#86 crowdedelevatorfartz on 10.09.20 at 8:37 pm
@#79 The Big Short
“Seriously, is there a prize for writing such long winded diatribes on this immortal portal?”

++++

sara?
****************
Worst. Prize. Ever.

#129 Dr V on 10.10.20 at 1:47 am

92 Sara

” Keep in mind that if you borrow from your portfolio via an RRSP mortgage, you incur an opportunity cost in that you are no longer able to invest that money which you have loaned to yourself.”

But you are paying yourself back, and that money can
then be invested.

Let’s say you have no mortgage and a $200k RRSP. Get
an RRSP mortgage in that amount and now you’ve got $200k (without paying tax) to be invested, and maybe
you can write-off the interest portion. You are now replenishing the RRSP with some pre-tax dollars.

Now you’ve got a substantial non-registered portfolio and are re-growing your RRSP.

But will you be better off than if you had simply maintained the RRSP but started contributing to a non-registered account in the same monthly amount that you would have paid to the RRSP mortgage?

Keep in mind that a large portion of the RRSP payback is in after-tax dollars, you will be fully taxed again on withdrawal, but the growth is not taxed.

#130 Luddite on 10.10.20 at 2:49 am

That’s a good reminder CSTHA, got to drain the water at the cabin after turkey

#131 Sky on 10.10.20 at 6:48 am

@ Sara & crowdedelevatorfartz

Sara – I personally find the series of dogmatic and banal insults you level at others helpful in restoring that trivial sense of normalcy so many of us are missing these days. An anodyne to our lockdowns.

Sadly, I must take exception to your post to crowedelevatorfartz wherein you linked working with one’s hands and “lacking intellectually.” If you meant to insult his intelligence then you’ll need to up your game. Intelligence and intellect are 2 different animals.

While their denotations (literal meanings) are similar, the word ‘intellect’ is associated with abstraction and academia. But it’s the connotation I really have a problem with.

Connotations are the feelings and images a particular word produces in a person. And the word ‘intellectual’ stirs up some of my worst negative feelings.

It wasn’t the plumbers or builders who wrote the Communist Manifesto. The Communist Manifesto was written by a pair of university intellectuals – Marx and Engels.

Their poisonous ideas went on to infect and inspire other intellectuals like Lenin, Stalin, Mao, and Pol Pot. This led to the imprisonment, torture and slaughter of hundreds of millions of innocents. And this soul crushing, murderous ideology is still alive and flourishing in today’s western universities.

When it comes to working with one’s hands – Don’t most of us? Electricians, equipment operators, carpenters. Surgeons, dentists, chefs, hair stylists, moms and dads rocking babies. Guitar players, pianists, sculptors and gardeners. Would we have Monet’s ‘Water Lilies’ or Tolstoy’s ‘ War and Peace’ if they were unable to use their hands?

But hands can stroke or they can choke. Hands can nurture or they can butcher. And the vast majority of the butchering this last century can be attributed back to the intellectual ideologues I cited.

Did Marx or Engels lack the necessary INTELLIGENCE in order to grasp where their ideology would lead? Or were they a couple of sociopaths who knew exactly what would happen? Who knows. But one thing is certain. Neither of them were “lacking intellectually.”

So please, Sara, drop the elitism and condescension towards the good people who work with their hands. Celebrate them instead. You must be better than this. But just in case you’re not… I like to hedge my bets. So I will leave you with this:

On a long weekend this winter, when your sewer backs up and you’re sloshing ankle deep in excrement – call your local university and have them send round an intellectual to help out. Then get back to us with the video. Laughs are in short supply these days.

#132 Abc123 on 10.10.20 at 7:10 am

I sure hope that you’re wrong Garth when it comes to your theory that next year is a good time to vulch on condos in Toronto.

Why you may ask? The cabal on CP24‘S hot property are doing nothing but bashing the stock market, mutual funds and the like ,week after week , emphasizing the stock market crash back in March/April and extolling the “ stability” of RE prices through the whole pandemic . Al Sinclair has made it his personal mission to compare RE and financial market investing at a level of sophistication that can only be described as primary school at best and mentally handicapped at worst.

Who the Hell wants to hear him these other shills screech if RE ( condos in particular )recover as you say they will next year

#133 crowdedelevatorfartz on 10.10.20 at 8:10 am

@#115 sara
“I’ve never been this anticipatory (yes CEF it’s a freakin word) …”

+++

As is harridan ….

#134 Felix on 10.10.20 at 9:29 am

Why did that stupid canine knock down a precious healthcare worker and take them away from their critical work?

To get a belly rub!?

While patients are dying!?

What a harmful, narcissistic and uselessly dogawful species.

*Sigh*

#135 Dharma Bum on 10.10.20 at 10:28 am

Guys like Dan living in that band of land “just north of the city” are all cut from the same cloth.

Not rich, per se, but fairly well off as long as their jobs hold out. They have a moderate amount saved (and maybe invested), and own decent houses.

However, they are all consumed with jealousy, FOMO, and an insatiable urge to keep up with the Jonses, and show off.

Their driveways are crammed with Audis, Beemers, Range Rovers, Porches, and Escalades. All leased.

They drool over the rag mags that get distributed to their doorsteps advertising lavish homes outfitted with the latest opulent kitchen and bathroom fixtures and cabinets.

They seethe with envy, and are incapable of being satisfied just staying put in their already more than adequate homes.

These people have a bit of cash to spare that is burning a hole in their pocket. They will not rest until every last cent is spent on a shiny new acquisition that they can use for self aggrandizement.

They do not see the future bearing down on them.

#136 KLNR on 10.10.20 at 10:37 am

“Household income is just over 200k”
and the guy is still considering the hassle of dealing with renters in his basement? Half that $1500 will go to taxes by the way.

#137 Don Guillermo on 10.10.20 at 12:06 pm

#119 TurnerNation on 10.09.20 at 11:43 pm

Be informed Ontario.
Another lockdown is planned.
Businesses brace yourselves.
We need constitutional lawyers, MPs to step up and do something.
They’re not listening to the people.
Most won’t get through another lockdown
**************************************
https://torontosun.com/news/provincial/ontario-death-count-includes-people-who-didnt-die-of-covid-19-but-exactly-how-many-is-unknown

“Toronto Public Health continues to follow the provincial definition for how COVID-19 deaths are categorized,” said Dr. Vinita Dubey, Toronto’s associate medical officer of health. “This means that individuals who have died with COVID-19, but not necessarily as a result of COVID-19, are all included in the case counts for COVID-19 deaths in Toronto.”
———————————————
#131 Sky on 10.10.20 at 6:48 am
@ Sara & crowdedelevatorfartz

Excellent post Sky!

#138 Sue on 10.10.20 at 12:51 pm

#131 Sky on 10.10.20 at 6:48 am
@ Sara & crowdedelevatorfartz

Sara – I personally find the series of dogmatic and banal insults you level at others helpful in restoring that trivial sense of normalcy so many of us are missing these days. An anodyne to our lockdowns.

Sadly, I must take exception to your post to crowedelevatorfartz wherein you linked working with one’s hands and “lacking intellectually.” If you meant to insult his intelligence then you’ll need to up your game. Intelligence and intellect are 2 different animals.

While their denotations (literal meanings) are similar, the word ‘intellect’ is associated with abstraction and academia. But it’s the connotation I really have a problem with.

Connotations are the feelings and images a particular word produces in a person. And the word ‘intellectual’ stirs up some of my worst negative feelings.

It wasn’t the plumbers or builders who wrote the Communist Manifesto. The Communist Manifesto was written by a pair of university intellectuals – Marx and Engels.

Their poisonous ideas went on to infect and inspire other intellectuals like Lenin, Stalin, Mao, and Pol Pot. This led to the imprisonment, torture and slaughter of hundreds of millions of innocents. And this soul crushing, murderous ideology is still alive and flourishing in today’s western universities.

When it comes to working with one’s hands – Don’t most of us? Electricians, equipment operators, carpenters. Surgeons, dentists, chefs, hair stylists, moms and dads rocking babies. Guitar players, pianists, sculptors and gardeners. Would we have Monet’s ‘Water Lilies’ or Tolstoy’s ‘ War and Peace’ if they were unable to use their hands?

But hands can stroke or they can choke. Hands can nurture or they can butcher. And the vast majority of the butchering this last century can be attributed back to the intellectual ideologues I cited.

Did Marx or Engels lack the necessary INTELLIGENCE in order to grasp where their ideology would lead? Or were they a couple of sociopaths who knew exactly what would happen? Who knows. But one thing is certain. Neither of them were “lacking intellectually.”

So please, Sara, drop the elitism and condescension towards the good people who work with their hands. Celebrate them instead. You must be better than this. But just in case you’re not… I like to hedge my bets. So I will leave you with this:

On a long weekend this winter, when your sewer backs up and you’re sloshing ankle deep in excrement – call your local university and have them send round an intellectual to help out. Then get back to us with the video. Laughs are in short supply these days
————————————————————————————————-
AMEN to that!!!!! Sky. I personally enjoy mr crowded’s posts and would not have been so eloquent in my words. Posters like sara and faron (to name a couple of the current bullies ) are the reason we are losing some of the more intelligent posters. They just dont bother to post anymore. I dont care who you are or what you do for a living its character and values that really matter. What you do for a living does not necessarily determine intelligence. If you cant post a relevant comment without insulting others I’m going to assume there may be more than a few people here that hope you just go away.
(Rant over)
Happy Thanksgiving to everyone. Take some time in this crazy world to be thankful for what you have and be kind to those around you.
Also enjoy nonplused and jaguar devore( whereever u went) drill baby drill. There are more! But lets start to call out the bullies and encourage civilized discussion.

#139 Fragrant Cookie on 10.10.20 at 5:57 pm

“Seriously? A dude in the basement of your mini-mansion, sharing the driveway and wandering, unshaven in the backyard?”
That is the exact response my dad has every time we talk about purchasing a property with dirt and having tenants living with us. He says if you can’t afford a house without tenants, then you can’t afford the house, period.

#140 Midnights on 10.10.20 at 6:06 pm

DELETED

#141 William R Drury on 10.10.20 at 7:18 pm

Did your review even present 1 favourable position on Trump. Did you even mention their might have been some corrupt dealings by Democrats. Did you even mention the green new deal? Did you even mention fracking ? Did you even mention anything positive Trump might have done?
Looks a little CBC bias?

#142 Shaun on 10.10.20 at 9:03 pm

Looking to move up to a $2,000,000 home. My favourite part about this new purchase is I can rent out the basement for $1500/month.

I love this blog. Thank you Garth