Spring things

Source: Warren Photography

It’s end-of-winter update time. Pay attention.

First, whither your portfolio? Were those who said stocks sat at dangerous levels last year, as stimulus billions washed over society, right? How about people who warned that if bond yields/interest rates rose  financials would crack?

Here are the one-year gains for markets – suggesting if you bought in or hung tight during the Covid crash you were a genius (or read this blog). The Dow is ahead 55%, the S&P 56%, the tech-heavy Nasdaq (despite recent declines) up 81%, and even poor Bay Street has added 49%.

Is this just the start as vaccines inevitably defeat the virus, the planes fly, the global economy reopens and corps start making serious money again? Likely, since the US GDP is forecast to surge 8% in the next few quarters (incredible) and average 6% for 2021. Earnings for publicly-traded US companies are expected to grow 16% for the first quarter of this year, then 25% year/year over the following three months. And you know what higher profits do, right?

Right. If you held an ETF tracing the S&P 500, like SPY, you’ve reaped a 56% annual return. Ditto for Bay Street, where an exchange-traded fund like ZCN has jumped 48% in the past twelve months as the TSX advanced. And the benefit of an ETF over individual stocks is evident – diversification. No need to guess at picking six or ten individual companies and hoping one doesn’t blow up. Plus there’s still a yield which beats the trousers off a GIC.

Meanwhile, what of preferreds?

This blog was slagged mightily a year ago for telling you to buy and hold prefs since interest rates wouldn’t stay depressed forever. Rate-reset preferreds not only cough up a nice income stream, they also get more valuable as the cost of money rises. Like now. It was inevitable. So in the fixed-income portion of a 60/40 portfolio, having a fat slice devoted to preferreds gives a big offset to bonds, which fall in value as rates swell.

Thus ETFs holding these preferreds, like CPD or ZPR, are ahead more than 50% in a year. Actively-managed DXP has gained 60%. They also pay you to own them – a dividend in the 5% range, plus the dividend tax credit. They do everything but walk your dog.

Okay, but can this last? Haven’t financial assets been puffed by stimulus trillions, desperate central banks and spend-happy politicians?

Of course. This is the everything bubble we’ve been talking about. And while financial securities have reflected that, the truest representation of a world that cannot last is this…

BMO economist Rob Kavcic is at it again, charting a real estate market in Canada he now calls a ‘melt-up’ and ‘The Wild North’. That chart shows annual housing price gains of 17%, but over six months the annualized jump is 20%. Over the last 90 days it bloats to 40%. In short, says the expert, this is ‘parabolic.’ The bubble is now greater than in 2017, when governments moved hard to deflate things, and we’ve only started into the nutso spring rutting season.

Months of supply have crashed into the 45-day range, and Kavcic calls this an ‘extreme condition’:

Twenty-two of 26 major markets have seen the average transactions price rise by double-digits, with 20%-to-40% gains common. Markets that entered the pandemic in a position of strength (e.g., Toronto, Ottawa and Montreal) have strengthened further, while markets that were in the doldrums (e.g., Calgary, Edmonton, to a lesser extent Vancouver) have re-emerged. And, the strongest momentum is in what we can loosely call “cottage country”, with average price gains in some locations running around 50% y/y.

It’s a melt-up. That usually signals the final stage in a bubble market. Routine home-buyers become crazed purchasers as competition for scant inventory increases. Then the speckers and the flippers move in, aggressively shoving values higher. Finally, increasing interest rates cause a panic among those sitting on the fence, who plunge in months or years earlier than planned in order the get a cheap loan. Future demand is wrenched forward.

So what’s the difference between romping financial assets and galloping house prices?

Lots. Corporations make money, pay dividends, increase in intrinsic value as they expand and have shares convertible into cash in two seconds. Houses cost money to own, require big fees to buy or sell, pay no dividend (but you can live there) and can turn illiquid fast when markets cool.

However the biggest difference may be how value is established. Most stock valuations are related to P/E ratios (p=price, e=earnings). But most houses are selling based on FOMO – the fear people have that they’ll cost more later. Logic on one side (equities). Emotion on the other (real estate). Oh yeah, and investors usually buy financial assets with cash. House buyers normally use leverage – and often 20x.

Will governments bring in new regs to cool off the stock market, reducing investment in corporations that provide jobs? Not a chance. Is intervention possible to tame a melting-up property market which threatens to shut the middle class out of home ownership? You bet.

Invest accordingly.

153 comments ↓

#1 Don Guillermo on 03.17.21 at 1:57 pm

#173 Wrk.dover on 03.17.21 at 1:33 pm
#152 IHCTD9 on 03.17.21 at 8:15 am

“Why aren’t we building pipelines for our oil and mining?”.

———————————————

In the public school system, we learned of the need to put a comma after the word oil in a sentence like that, in order to ward off any confusion. Orally spoken too.

I didn’t pay attention to the terminology of it though, so this is all I can say to help
****************************************
Much oil sand production is mined. Recently more production using SAGD.

#2 The Woosh on 03.17.21 at 1:59 pm

Thus ETFs holding these preferreds, like CPD or ZPR, are ahead more than 50% in a year. Actively-managed DXP has gained 60%. They also pay you to own them – a dividend in the 5% range, plus the dividend tax credit. They do everything but walk your dog.

————————

Yup…good workhorse.

#3 Newbie on 03.17.21 at 2:00 pm

I’m nearing rebalancing time. My preferreds (CPD) now are overweight at ~19% of my portfolio while my bonds (ZAG) are underweight at ~12% of my portfolio. Do I buy more ZAG to even this out even though expectations are that yields are going to continue to increase?

#4 leebow on 03.17.21 at 2:06 pm

Yeah, today they say 1m10y swaption volatility hit 86 bp. Back of the envelope, that corresponds to one standard deviation move of 60bp in 6 months. Plus, the credit spreads are gonna have to widen. Overall, a substantial chance we’ll see 3.25%+ mortgages this fall. Plus a whole bunch of other things.

Gotta be a real positive thinker to put any substantial money in real estate. Looks like house finally kaput.

#5 Don Guillermo on 03.17.21 at 2:09 pm

#175 leebow on 03.17.21 at 1:48 pm
#167 Lefty

Oh nice. Caroline Mulroney. Does she also like to make a bit of money on the side, like her daddy?

I voted for both cons and lib before. There is no way I’ll vote for cons until they clearly and unambiguously separate themselves from trumpists and the likes of that little shit Ooserthof. I don’t think I’m alone in this
**************************************
The only thing that links Cons to Trump is T2’s bought and paid for state media CBC, CTV, Global etc. Just stop reading it and you’ll be fine. What about Ben. He has nice hair.

#6 Captain Uppa on 03.17.21 at 2:10 pm

DELETED

#7 binky barnes on 03.17.21 at 2:21 pm

I was too upset to post yesterday, but after a good night’s sleep I am back.

Why was I upset? The ‘suggestions’ that were given regarding a more appropriate moniker for our PM. Clouseau? NoClueso? Little Lord Fauntleroy? Dimwit? Dilettante? Really?! You folks must have been pulling the leg of ol’ Binky Barnes.

So I have decided that henceforth Mr. Justin Trudeau will be the ‘PM PM’. Concise, easy to spell, apropos, and it has a nice ring to it. It says it all really: he is the PM PM.

I am now thinking that some sort of song–even an anthem–in his honour might be appropriate. The Queen has one, so why can’t the PM PM? We can all belt it out on our front lawns on his birthday and such.

BB

#8 Dan in Nanaimo on 03.17.21 at 2:22 pm

Margin debt and market equity cap at record highs compared to nominal GDP

Most overvalued markets (equities & housing) in recent history

Since the chain of command starts with the FED/CB’s pressing the Ctrl-P buttons, what exactly can “the government” do ?

Invest accordingly for sure

#9 crowdedelevatorfartz on 03.17.21 at 2:25 pm

A friend is listing his house next week.
Lived there 10 years.
The “boomerang kids” moved out for the 3 time a few months back.

Plans on selling, investing, renting for a few years…
The kids have lost “Hotel Mom and Pop.”

#10 TurnerNation on 03.17.21 at 2:26 pm

Once again this New System is to erase all trades of our culture, our unity.
Why the CFL was cancelled; why the Leafs and Blue Jays teams are banished from the country.
No fun allowed Comrades. Just work work work.

– “Pubs should be allowed to open indoors from April 26 in Scotland, but will not be allowed to serve alcohol, Nicola Sturgeon has announced”

— Pictures of the New World Order in the locked down Red/Grey warzone of occupied Toronto. As I’ve posted for years here the First World Countries get economically bom’d. While the Second, Third World countries just get bom’d.
Here it is, our own Economic ‘Gaza Strip’.
(Yes you must #stayhome, no you may not open your business; yes you must take the UBI)

https://www.blogto.com/arts/2021/03/toronto-photographer-captured-all-vacant-stores-queen-west/
This eerie Toronto photo series captures all of the vacant stores on Queen St. West (blogto.com)

— And here is the same in Montreal: https://marcusbender.ca/?p=940
A Tale Of Two Strolls Down Saint-Denis Street

……..
– So what comes next? Hint hint the one industry never shut down by the province. The New Condo building industry.
– AMAZON got into online and offline Health Care today.

#11 Nelson on 03.17.21 at 2:29 pm

Garth,

Full disclosure – I truly wish I had heeded your advice a year ago. Hindsight is 20/20 and I had a lot of dry powder when the pandemic hit and while I did buy in….I also sold out, in a series of transactions and ended up having a not-so-great year. Guess the wallstreetbets crowd would say I was cursed with paper hands. This in a year where a whole lot of people saw their balances explode. My decisions were driven by fear….driven by the news and by the notion that ‘this time is different’. Lessons learned.

The highly liquid nature of financial assets can be a curse as well as a blessing. Ironic that as the pandemic worsened and I fled to cash, it was the illiquid nature of real estate that forced me to hold onto it, and ended up resulting in a great return (on paper anyway…time will tell).

A question for you sir. My apologies if you have already covered it in a previous post. With your seemingly unwavering confidence in financial assets, do you advise people to own their homes outright if they can afford to, and invest their remaining savings and surplus income? Or is it better in the current interest rate environment to carry as much mortgage as one can, and invest the rest?

Before you say “rent”….the vacancy rate where we are is 0.7% and we have a highly active young border collie cross and I have the same deeply ingrained need for a bit of space and room to breathe as she does. Really appreciate your insight on this…

#12 Sail Away on 03.17.21 at 2:29 pm

Good blog, Garth.

Luckily for these Regina condo owners, their condo corporation has reduced real estate risk by investing building maintenance cash in bitcoin:

https://ca.finance.yahoo.com/news/regina-condo-corporation-invests-bitcoin-163128052.html

Diversification, baby!

#13 Sail Away on 03.17.21 at 2:32 pm

#6 binky barnes on 03.17.21 at 2:21 pm

I am now thinking that some sort of song–even an anthem–in his honour might be appropriate. The Queen has one, so why can’t the PM PM? We can all belt it out on our front lawns on his birthday and such.

———–

Yes!

What rhymes with syphilis?

#14 Kuato Lives on 03.17.21 at 2:35 pm

Once upon a time I had a big house in Calgary. Lost my job in 2008. Didn’t sleep well worrying about losing my house (Lost it anyway).

After that I decided to become a big shot investor. Made a million dollars. Didn’t sleep well worrying about the portfolio. (Lost that too)

After losing everything, I now rent a place on Lake Okanagan. I sleep just fine.

#15 Billy Buoy on 03.17.21 at 2:38 pm

Keep Buying…Rates won’t be up for a while but inflation will be…until they have to do something…

#16 Linda on 03.17.21 at 2:41 pm

‘the fear people have they’ll cost more later’. So what I’m wondering is whether despite the bubble, or any price crash correction if those purchasing now are actually not incorrect to presume it will cost more later. This very blog has mentioned how those who invest high tend to hold onto investments that plunge in value, because they can’t or won’t admit to having made an error in judgement. How then would purchasing RE be any different?

Since land costs, taxes, materials & labor to build new or renovate have continued to increase seems to me that even if prices plunge those who don’t ‘have’ to sell can wait until any potential loss erases itself. Since people don’t learn from previous mistakes, sooner or later another crazy RE bubble is likely to erupt. As the old saying goes ‘take what you want & pay for it’. Guess most are willing to do just that.

Buy/invest in assets because you can afford them, not just because you believe prices will rise. – Garth

#17 Looking Up on 03.17.21 at 2:42 pm

One thing that puzzles me is that there is a finite amount of money among real estate buyers in Canada.

By my reckoning as the outlying areas have experienced insane real estate sales growth and prices due to Covid migration or whatever, that money should have come from people selling out in Toronto, Vancouver, Southern Ontario etc.

Those markets should have seen softening as a result, but there has been just insane growth anywhere.

Insane new debt loads because of low interest rates perhaps are one explanation but still the expensive cities should have peaked. Weird….

#18 Billy Buoy on 03.17.21 at 2:44 pm

I call a short term up in markets til the free money effect fades (4-6 months?), with a correction based on no REAL GROWTH – MORE DEMOGRAPHIC REALITY, followed by more Stimulus.

The wheels on the bus go round and round, round and round, round and round.

#19 Brian Ripley on 03.17.21 at 2:48 pm

“Is intervention possible to tame a melting-up property market which threatens to shut the middle class out of home ownership? You bet.” Garth

I stumbled across some charts that show countries that are leading the way in Patent and other Intellectual Property registrations, so I mashed some of them up here: http://www.chpc.biz/history-readings/properties-intellectual

“As it turns out, there is hope. According to a November 2020 report from Statistics Canada, Canadian firms that employed robots have also hired more human workers, contrary to what you may instinctively believe. In fact, they hired 15 per cent more workers!” Joshua A. Marshall, associate professor of mechatronics and robotics engineering, Queen’s University. ​via: Global News FEB 27, 2021

The Fifth Industrial Revolution is well underway and can be summarized as the combination of humans and machines in the workplace. But Canada lags in patent registrations way behind China, U.S., Korea, Japan etal in terms of quantity of registrations and registrations per million population. (see charts)

So apart from Governments about stomp all over the FOMO 2.0 crowd if that indeed happens, the private sector is busy working on algorithms that will continue to revolutionize how we approach the production and consumption of housing and all the attendant supporting businesses… legal, finance, construction, insurance, sales etc. And these new processes are going to change our relationships to work and employment income and have an effect well beyond the problems of housing.

If we want to move in the direction of a more equitable society, we need to invest in education and incentives to keep our graduates and those of the patent leading countries employed and working in Canada.

#20 obtuse on 03.17.21 at 2:51 pm

Sail Away on 03.17.21 at 2:32 pm
#6 binky barnes on 03.17.21 at 2:21 pm

I am now thinking that some sort of song–even an anthem–in his honour might be appropriate. The Queen has one, so why can’t the PM PM? We can all belt it out on our front lawns on his birthday and such.

———–

Yes!

What rhymes with syphilis?

———

Hawaiian whale art? Uh no sorry that doesn’t rhyme.

#21 crowdedelevatorfartz on 03.17.21 at 2:54 pm

@#13 Sail Away

Writing a song?

https://en.wikipedia.org/wiki/Sisyphus

No need to thank me.

#22 Northshore guy on 03.17.21 at 3:00 pm

255 Sandringham Cres, North Vancouver.
Somebody just took a loss in this crazy market, can’t believe it.
Sold for 2,325,000. 3 days on Market.
Bought in May 2016 for 2,425,000

Somebody wanted to get out badly

#23 Millennial 1%er on 03.17.21 at 3:01 pm

Buying a home to live in it is so 1980s

#24 VGRO and chill on 03.17.21 at 3:08 pm

Preferred’s don’t seem to behave at they should, so I have not bought any.

BoC raised rates from 0.5 to 1.75% from 2017 to 2019. https://tradingeconomics.com/canada/interest-rate

ZPR was flat in that timeframe.

ZPR YTD total return is 11.57%, btw.
https://ca.finance.yahoo.com/quote/ZPR.TO/

#25 leebow on 03.17.21 at 3:08 pm

#13 Sail Away

Amaryllis?
https://www.youtube.com/watch?v=hG4_xuI4JGI

#16 Linda
Linda, it’s hard to hold on to a losing leveraged asset in illiquid market. Right now we don’t see too much delinquency and default because almost everything can be sold at a profit. I bought some distressed houses back in 2012 when I was the only buyer in months. It was brutal. Not proud of myself. Made a lot of money though.

#26 IHCTD9 on 03.17.21 at 3:09 pm

#7 binky barnes on 03.17.21 at 2:21 pm

I am now thinking that some sort of song–even an anthem–in his honour might be appropriate.
_____________

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

#27 Luca on 03.17.21 at 3:20 pm

Garth, I thought the final stage in the housing bubble was 2016 then 2018 then 2020?? Heck even Hilliard MacBeth is creating a third edition of when the housing bubble bursts book since he’s called it twice and never came to fruition. And if a bubble pops doesn’t that mean a big crash by definition? No bubble in history deflated without big crash.

#28 -=withwings=- on 03.17.21 at 3:32 pm

How many times am I going to have to say this? As long as CMHC is taking the risk, real estate prices are not coming down. Levelling off as interest rates rise, which will kill the flippers, but not crashing. Why would it crash? Banks want to loan. Buyers want to buy. Sellers want to sell. If the herd gets spooked, buyers will pile in on the dip and prices go right back up (See:2009).

There is no miracle coming. You need somewhere to live. Buy if you can. The best time to buy was last month. The second best time is right now.

#29 crowdedelevatorfartz on 03.17.21 at 3:35 pm

@#26 IHCTD9

Good one.

#30 Penny Henny on 03.17.21 at 3:37 pm

I was just looking at the update Covid stats for the Niagara region. It reports that last week only one person was admitted to hospital to treat Covid symptoms. The week before that it was two people, and the same for the week before that.
An region with a population of 480,000 people is basically shut down because one or two people are being admitted to hospital per week to trat Covid symptoms.
How many others are dying because they are not receiving treatment for other ailments?
Pathetic.

#31 Adam Smith on 03.17.21 at 3:41 pm

I have no doubt this was a dumb idea but I purchased an expensive house in Saanich at the top of the bubble (Well, a bit of doubt, homeowners vote more than the young and outnumber them so politicians will be protecting my home equity as much as they can.)

But we legitimately needed more space and could not wait for this all to eventually play itself out so locked in a decent rate and went for it. We are hoping the suite means we stay fiscally solvent and that the pre-purchase renos, pleasant neighborhood, nice central location, and good sized south-facing backyard means that it will bounce back from any price crash fairly quickly.

As Boomers retire and the US west coast goes nuts, I suspect demand in Victoria will stay high but who knows.

#32 vanreal on 03.17.21 at 3:42 pm

Garth, you’ve been calling for a drop in real estate prices since 2008 and it has never really come to fruition. Prices just keep climbing. Vancouver city is increasing rapidly and I don’t see what will stop it. Governments better tread lightly if they attempt to quash the market. Homeowning voters will vote them out as they should.

#33 Flop... on 03.17.21 at 3:44 pm

Bad as each other in Ottawa nowadays.

Having said that the current Liberals in charge need no song made about them, it already exists.

Band name?

The Tenants.

Appropriate, no?

The name of the song?

You Shit Me To Tears…

M46BC

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

“He’s got a big car and he drives real fast
But you can’t see where you’re going with your head up your arse.”

#34 Shorts on 03.17.21 at 3:49 pm

“The bubble is now greater than in 2017, when governments moved hard to deflate things…”

Garth in reality governments did very little to deflate the bubble in 2017. They tinkered with some smaller things as they have done every now and then since you first identified the Canadian housing bubble in 2008.

The minimum down payment in the US is 20%. If Canada adopted the mortgage lending standards of our southern neighbour, the bubble would crash immediately. And lending standards in the States are not the most stringent in the world.

Canada’s housing market is becoming more and more dependent on extreme money printing. Take that away and the economy crashes and down go house prices. Leave the extreme printing in place and we will get inflation and spiking mortgage rates (bond market) which will bring about a catastrophic housing price correction.

Choosing the path of extreme money printing always has brutal consequences. History proves that.

#35 ever after on 03.17.21 at 3:58 pm

from March 20 to March 21 .. i am up 100% exactly

thanks to buying amazing deals in mid March last year ..

#36 IHCTD9 on 03.17.21 at 4:03 pm

#29 crowdedelevatorfartz on 03.17.21 at 3:35 pm
@#26 IHCTD9

Good one.
_____

I was gonna be the PM, but then I got high
I was gonna go balance the budget, but then I got high
Now everything is inflated, and I know why…
Because I got high, because I got high, because I got high…

#37 Freedom First on 03.17.21 at 4:06 pm

It is always said when SHITF, that we never saw it coming. No argument there. It is always prudent, for me, since I have been 17 and on my own, to be liquid, balanced, diversified, and debt free. I am now near 70, and have the same philosophy.

I still, always buy low and sell high, anything, at any time. It was such a delight, years ago to find this blog to see the priceless information given for free by Garth, to help Canadians.
A belated Happy Birthday Mr. Turner, and a humble Thank you, for all your help, which is so freely given to Canadians!

#38 Steve on 03.17.21 at 4:08 pm

You’re the best Garth 60/40 for life! Thanks again and again for the free and priceless advice!

#39 ElGatoNerodeYVR on 03.17.21 at 4:11 pm

Good advice if you can afford it to follow.
In perspective at a 5% yield one would need a 300k portfolio to rent an average basement suite in the beautiful “City of Parks”. That would be Surrey,BC for those who don’t know the reference, look it up,the2nd biggest city in the Lower Mainland if you believe the census, the biggest if you actually see all of those undeclared said basement suites. It will have soon officially the largest population surpassing Vancouver .
For a place in the city of Vancouver you would easily need a cool half a mil or more that goes to the landpeoplekind ( gender neutral and sensitive in these troubled gender free times).
The point being that it will take a massive intervention to bring house prices down ,unless we see people selling and living in their cars ; and even then at 500,000 new imigrants every year (not complaining) there is enough demand to satisfy without subsidized rental housing, less one thinks that 2k monthly for a 1 bdr. in a private rental building is affordable.
I do agree that the party will eventually end for a breather and some will get wiped , just realistically I see difficulty for many to have ” iron hands” and dedicate all of their portfolio to making rent while seeing housing go uppa for decades with a mere correction here and there.
Maybe a case study with real world examples using median incomes/rents,reasonable spending ( and not the extremes) might be a better way to present the point…hmm something to ponder.

#40 Luca on 03.17.21 at 4:11 pm

Garth, I know you’ve been predicting wfh is temporary but Ford just announced it’s 30,000 employees will remain wfh post pandemic. I dunno Garth perhaps time for a new crystal ball?

That is 16% of the workforce of one corp. Don’t get too excited. – Garth

#41 Guelph Guru on 03.17.21 at 4:13 pm

Thanks Garth for keeping us sane through the last year and pointing to the right stuff at the right time.
ZPR I think has still some way to go. I am going to stop buying at 11, then sit back and enjoy the ride.
Rgdg the everything bubble, the debt numbers are soooo off the charts. Am old fashioned and like currency which is easy to understand and low debt. Don’t understand how this currency printing deluge is going to end. Possibly badly. The only bonds I own are PSB. Have sold everything else.
So far housing has performed very well. Hope sanity returns in the near future. But that would mean a lot of hurt and blood on the streets. Let’s see what happens when we get to 4-5% mortgage. With the present inflation, it should be soon.

#42 bub slug on 03.17.21 at 4:26 pm

What do they actually produce in Canadia these days?

#43 Dolce Vita on 03.17.21 at 4:53 pm

Like many others here I took your advice the past year (and some of my own, a.k.a., Pandemic No Brainer Human Nature single stock picks…just a few).

Firstly, thank you tons Garth.

My 2 meagre, poorboy investment portfolios past 12 mo returns, minutes ago:

TFSA +48.37%
Non-TFSA +73.02*

*Includes my single stock No Brainer Pandemic Human Nature stocks:

– Vax and
– US Funeral (Give me Liberty or Give me Death, Americans berated me on Twitter last year trying to warn them at Italia locking down…put my money where my Twitter mouth was in Death, mostly out of spite).

Thus as herd immunity approaches will sell the death stock, keep the vax stock as there are few Billion souls in the World’s poor countries that still need saving.

Bulk of investments in ETFs as balanced as I can afford them and per Garth advice over the year (not much $$$ compared to your poll of Richie Rich Blog readers).

———————-

Lastly, if I keep listening to you Garth, meagre/poor boy may yet become threadbare soon enough.

Wouldn’t that be something.

Again thanks Garth for all that you are and all that you do for Plebes like me.

#44 crowdedelevatorfartz on 03.17.21 at 4:56 pm

@#42 bub slug

“What do they actually produce in Canadia these days?”

+++

I’m not sure.
Pasta I think.

#45 crowdedelevatorfartz on 03.17.21 at 4:57 pm

@#40 Luca

When did the prison officials give you access to the internet?

#46 45north on 03.17.21 at 5:04 pm

Will governments bring in new regs to cool off the stock market, reducing investment in corporations that provide jobs? Not a chance. Is intervention possible to tame a melting-up property market which threatens to shut the middle class out of home ownership? You bet.

the middle class has just been shut out.

Danielle Park:

The average detached home sale in the 905 area code immediately surrounding Toronto jumped 28% year over year in February to $1.3-million.

In these conditions, a $450,000 down payment and household income of 200% of the national median are no assurance of winning the abode lottery

in other words the middle class has been shut out.

how’s Mr Dress-up going to fix this?

#47 Dolce Vita on 03.17.21 at 5:05 pm

#21 crowdedelevatorfartz

THAT was good.

The Classics.

Why they are called that.

#48 Planetgoofy on 03.17.21 at 5:10 pm

#22 Northshore guy on 03.17.21 at 3:00 pm
255 Sandringham Cres, North Vancouver.
————————————-
OMG even the lawn sucks. My home makes that thing look like a out-house. Paid $230k worth maybe $800k sunshine coast. People are NUTs

#49 Hugh Fitzpatrick on 03.17.21 at 5:15 pm

The cost of living for our lifestyle type for us is not a major concern. We maximize RRSPs, TFSAs every year. We shelter our annual and compound interest as much as possible. We live pretty well and have $5,000 to $6,000 a month in savings which we search all over Canada for the best longest term GICs and put in long term GICs, BMO 2.0% 10 year , EQ Bank 2.25% 10 year, Equitable Bank 2.15% 10 year, Equitable Trust 2.15% 10 year, Duca Credit Union 2.0% 7 year. Interest rates will keep rising so new investments will be earning higher rates in coming months, years.

#50 Bezengy on 03.17.21 at 5:20 pm

#42 bub slug on 03.17.21 at 4:26 pm
What do they actually produce in Canadia these days?
————————
Just finished a drive from the Rockies back to the camp here in Northern Ontario. Country looks pretty busy to me. Farming, mining, lumber, manufacturing, you name it, we do it all.

#51 S.Bby on 03.17.21 at 5:24 pm

Are financial markets really going up in real terms or is the dollar being devalued? It’s more the latter IMO.

You live in dollars. What’s the difference? – Garth

#52 Marc Roger on 03.17.21 at 5:28 pm

I like my BMO ETFs.

#53 Bezengy on 03.17.21 at 5:29 pm

Spring is here indeed, and “the last great race” is over.

Dallas Seavey 1st. Go dogs go!

https://iditarod.com/

#54 cuke and tomato picker on 03.17.21 at 5:31 pm

Number 31 Adam Smith you have nothing to worry about.

#55 espressobob on 03.17.21 at 5:32 pm

Market timing?

Good luck with that.

#56 BobTheCat on 03.17.21 at 5:39 pm

IMO, the leverage is the one that made the current home owners rich and the renters being the losers. So all the home owners across this country (that’s 70% of the population) are very thankful for that.
We cannot really compare the RE markets and the securities markets… The RE is local, while the other one is global. A family looking for a home can’t buy something that is 2000KM away from the city they live in, so this is where the RE logic separates from the Securities market logic. If you don’t buy in a RE market, you might get priced out, while if you don’t buy now into Securities market you’ll still be able to buy but less.
So far the ones that took most of the risk (that being the home owners) got the biggest rewards.. and so much for the risk to be honest.
But hey, we can complain that the Canadian RE market doesn’t make any sense, but as long as it goes the way it does, it can be explained and it makes perfect sense (that’s what you are talking about in most of your articles), and it’s us that have the “wishful thinking” or just don’t get it why it goes one way or the other.

#57 Leftover on 03.17.21 at 5:40 pm

Small city, western Canada – I don’t know if it’s a canary in the coal mine, but the last three houses I toured with “Offer presentation dates” (blind auction) all came and went without any offers at all. Then they dropped their asking prices.

I don’t think bubbles make a sound when they pop.

#58 Dolce Vita on 03.17.21 at 5:41 pm

#44 crowdedelevatorfartz

…Pasta I think.

———————–

You mean wheat and egg chewing gum MUCHO Al Dente (perpetually) even after hours of boiling.

Italia Pasta Flour: 9-10% protein, Tipo 00 – finely ground to absorb eggs
Canada “Pasta” Flour: 13% protein, Tipo coarse ground,egg clumps

30% more to chew on in Canada “pasta”.

And Italian eggs are “Allevate a Terra” (search in Italian Google) – TIP: Red Hens = Best Eggs:

https://i.imgur.com/9ojAO48.png
https://i.imgur.com/X9dr6Mn.png

and Canadian eggs (no comment, images speak for themselves, Cdn Google Search):

https://i.imgur.com/xQCQgij.png
https://i.imgur.com/KVMneBw.png

———————-

And yes, I make my own pasta even in Italia.

Ricetta:

– 1 Medium Italian egg, Allevate a Terra
– 100 g Italian pasta flour, Spadoni “Gran Mugnaio” Tipo 00, Anti-Grumi, 9.5% protein – simply the best for pasta Al Dente or softer if you cook it for 30 sec or a bit more…mine takes 2-3 minutes tops to cook for Al Dente depending upon the type I make (fettucini, lasagne, tagliatelle, spaghetti, maltagliati, orecchiette, tagliolini, etc.).

Easy to make, do not buy dry using durum husk. Put in above in blender. Pulse 5 or 6 times to pea meal consistency. Feel pasta. To dry add a smidge of water. Agglomerate into a disk. Wrap in plastic. Refrigerator 30 min (let egg be absorbed totally by flour) and then good to go. I have a pasta machine with moulds but if crafty, all you need is a knife for some profiles:

https://i.imgur.com/d4JaKIO.jpg

I roll it up more to get longer lengths.

————–

Why when you make pasta in Canada, it just never tastes as good as the pasta you ate in Italia.

Now you know why…let alone our non-GMO, non-Growth Hormone, non-Pesticide sauces it will have been served up with for you.

Don’t even mention Gnocchi. The potatoes in Italia are superb for making them. Cdn yellow potatoes (e.g., Yukon Gold), too, too much water.

Still buy McCain frozen fries in Italia, they are simply the best. Italian not bad, but McCain…awesome. Why you find McCain in Italia…we know what the best is and buy it.

#59 theoryAndPractice on 03.17.21 at 5:46 pm

46 45north on 03.17.21 at 5:04 pm

Nobody can/will fix this, it will fix itself, just watch it…

#60 Flop... on 03.17.21 at 5:51 pm

Looking to buy in to a heated real estate market this summer, because you need more space?

You don’t need more space, in this market.

You need more garage sales…

M46BC

#61 S.Bby on 03.17.21 at 6:01 pm

You live in dollars. What’s the difference? – Garth

The gains are an illusion. No real growth.

#62 Jake on 03.17.21 at 6:02 pm

Have to admit, during the March stock meltdown last year there were few places to turn for optimism and opportunity except here.

It was not easy buying into a storm, everyday’s purchase bled red the next morning. Almost too embarrassing to admit I bought into the worst 30 day decline in the history of the markets. But, emotions aside, and with advice here, I was a buyer in March and April 2020 and more again in Sept-Nov.

Thank you for offering the light when all was dark. Today is a better day because of it.

#63 NOSTRADAMUS on 03.17.21 at 6:14 pm

DRINKING!
The best thing about drinking ! You get to thinking! I suspect that a lot of the over indebted have been doing way too much thinking of late. Why work when you can speculate to your hearts content, be it the stock market or real estate, pick your poison. We are in a brave new world, pain thresholds are low in a world of record debt ratios. It takes a smaller rise in rates than ever before to rattle both the Stock and Real Estate markets and the broader universe of risk assets. There will be a lot of broken crockery. Predictably, and, fast approaching, will come the dark day when the over indebted thinkers plea for a comfort blanket will go unheard. One more sober comment, new variants of Covid are already dominant in France, Italy and much of Central Europe, and will soon be dominant much closer to home. That is all I have to say on that, for now.

#64 Stone on 03.17.21 at 6:23 pm

Great opportunities come along only once in a while. 2020 was a great opportunity. 2020 return for my balanced and diversified portfolio: 11.15%. That opportunity continues into 2021. 8.56% YTD. Yay! ETFs are the best, especially in a balanced and diversified portfolio.

Rub tummy!

#65 Dave on 03.17.21 at 6:26 pm

Both provincial and federal government have failed miserably in the past to slow down the real estate market.

What’s Einstein plan is going to work this time?

#66 ww1 on 03.17.21 at 6:28 pm

I’m seeing the mainstream media finally reporting that mortgage interest rates are going up. Cue a new mad panic of buying as people panic about not qualifying for mortgages at the new rates.

#67 Ballingsford on 03.17.21 at 6:30 pm

With real estate going nutso in small towns these days, are the urbanites who move there getting warm welcome wagon receptions by the locals whose kids have now been shut out of buying a home in their hometown?

#68 leebow on 03.17.21 at 6:30 pm

#5 Don Guillermo

Come on. You telling me there isn’t a donny lil hands’ fan club in CPC?

#69 Ponzius Pilatus on 03.17.21 at 6:41 pm

#40 Luca on 03.17.21 at 4:11 pm
Garth, I know you’ve been predicting wfh is temporary but Ford just announced it’s 30,000 employees will remain wfh post pandemic. I dunno Garth perhaps time for a new crystal ball?

That is 16% of the workforce of one corp. Don’t get too excited. – Garth
———–
So, you’re saying they gonna build cars in their garages, one by one.
I would not buy the ones build on a Monday.

#70 Don Guillermo on 03.17.21 at 6:52 pm

#46 45north on 03.17.21 at 5:04 pm

The average detached home sale in the 905 area code immediately surrounding Toronto jumped 28% year over year in February to $1.3-million
*********************************

This might be a better buy. 6 Bdrms, 4 Bathrms, city views, mountain views, island views, ocean views. 4 levels with elevator to each. 5 minutes to centro restaurants, beaches and entertainment. Tropical weather all year around. $985,000 USD. Oh, and high speed internet for those WFH folks. Take the virtual tour.

https://my.matterport.com/show/?m=426hpWu7AGE

#71 Linda on 03.17.21 at 7:06 pm

Garth, I agree one should buy/invest in assets because one can afford them. I wonder how many of those who are buying believe they can ‘afford’ the purchase, because they also believe RE values will never decrease. Or think it won’t matter how much debt they take on, because ‘the government’ will bail them out should the bubble burst.

#72 Nonplused on 03.17.21 at 7:06 pm

I of course really like this chart from Brian:

http://www.chpc.biz/6-canadian-metros.html

When I look at this chart, it strikes me that this craze has been going on since the inception of the chart, at least in YYZ and YVR. Not so much in Alberta, which had a big bump in 2006 but that was probably largely related to oil going over $100/bbl, but hasn’t been too crazy since. Not sure what to think about Ottawa suddenly joining the craze.

Unfortunately, it looks like YYZ and YVR are breaking out of “continuation flags”, which based on the size of the flags mean that there could be another $400,000 to go before this is over, which would be absolute craziness. But we’ve already gone over all the reasons why this shouldn’t and couldn’t happen, and yet it continues. I think it is time to admit that logic has no place in these markets, YYZ and YVR will go up because they have gone up and no further thought is required. Kind of like Tesla.

Technical trading is for dummies. It only works because everybody is doing it based on the same charts. It is a pure form of crowd mentality. But I think we are seeing it. How this ends I do not know, I think at this point it can only end in exhaustion, but the chart says that is still a ways off.

(PS, Brian if you are reading this I think you should take Calgary out of the Van-Cal-Tor Condos line. All Calgary is doing is weighting down the horror that is the Van-Tor condos numbers. It isn’t part of the explosion.)

#73 Don Guillermo on 03.17.21 at 7:09 pm

#68 leebow on 03.17.21 at 6:30 pm
#5 Don Guillermo

Come on. You telling me there isn’t a donny lil hands’ fan club in CPC?
***************************************

Of course there is a fan club. There’s not many other places for the hard right to go. But it’s not main stream CPC and it’s certainly not like our PM (what did we agree to name him BB?) declaring his admiration for Castro and the PRC.

#74 Expelled Franquist on 03.17.21 at 7:09 pm

Shame on you Garth. Not a single St. paddys mention or green Guinness joke. No breeds visible either…

#75 Planetgoofy on 03.17.21 at 7:15 pm

People things are not going back to normal.
TurnerNations down the correct path.

THE FINANCIAL SYSTEM – EVERYTHING IS FAKE – PLASTICO SOCIETY
Prominently, here’s what I’m observing the last 24 months. Primarily with people you know fairly well. We have a society that just gives lip service and empty words. Never see any evidence of actions supporting their words.

Everything’s fake. We have a fake financial system and we have citizens who are superficial and fake. A society that is completely collapsing morally and financially.
I thought it was something interesting that I’ve been noticing lately.
Bottom line, we pay with plastic and digits. Now they’re selling digital images – art and twitter messages. Not to mention cryptocurrencies that are completely worthless.
Everything’s fake including the people.

#76 crowdedelevatorfartz on 03.17.21 at 7:18 pm

@#58 Dolce

Pisano!
Calmati. Era uno scherzo sul nome errato Canadia.

Il Canadia suonava italiano così ho deciso di dire Pasta.
Nessun italiano è stato ferito durante la realizzazione di questa barzelletta.

Hmmmmm
How many blogdogs will scurry to the Italian to English Translation ??????

#77 Phil on 03.17.21 at 7:25 pm

#21 crowdedelevatorfartz on 03.17.21 at 2:54 pm

@#13 Sail Away

Writing a song?

https://en.wikipedia.org/wiki/Sisyphus

No need to thank me.
—————————————————
Sisyphus was supervised by Persephone, queen of hell, in his laborious and futile task.
Seems familiar somehow.

#78 Sail Away on 03.17.21 at 7:32 pm

#58 Dolce Vita on 03.17.21 at 5:41 pm

Still buy McCain frozen fries in Italia, they are simply the best. Italian not bad, but McCain…awesome. Why you find McCain in Italia…we know what the best is and buy it.

———–

Yes! And you know who sells McCain fries in Canada?

Costco. The pinnacle of fine, cultured dining. All their food is awesome.

#79 Nonplused on 03.17.21 at 7:34 pm

#130 Ponzius Pilatus on 03.16.21 at 9:07 pm
#93 Barb on 03.16.21 at 7:06 pm
If the Dippers retain the hammer, more non-gender bathrooms in schools. Oh goody! (Sigh)
————
What’s wrong with that?

—————————–

Do you really need that explained to you?

I’ve seen non-gendered washrooms work in bars and in Europe, but the stalls have ceiling to floor walls and doors. There is no way for a creepy pervert to stick his iPhone under the divider and snap a picture.

#80 crowdedelevatorfartz on 03.17.21 at 7:34 pm

@#74 Expelled
“Shame on you Garth. Not a single St. paddys mention or green Guinness joke. ”

+++

In this politically correct age….you cannot say “Paddy”

It’s probably also frowned upon to celebrate a Christian Saint among the secular neutral pc crowd.

Hell you cant even make a joke on an elevator any more.

https://www.wbur.org/cognoscenti/2018/05/15/simona-sharoni-richard-ned-lebow-rich-barlow

#81 Don Guillermo on 03.17.21 at 7:51 pm

#80 crowdedelevatorfartz on 03.17.21 at 7:34 pm
@#74 Expelled
“Shame on you Garth. Not a single St. paddys mention or green Guinness joke. ”

+++

In this politically correct age….you cannot say “Paddy”

It’s probably also frowned upon to celebrate a Christian Saint among the secular neutral pc crowd.

Hell you cant even make a joke on an elevator any more.
*************************************
Possibly but white male slander is usually acceptable and sometimes encouraged.

#82 Flop... on 03.17.21 at 7:53 pm

Been looking at heading back for another trip to San Antonio.

That place is an underrated place to visit.

This bridge built to keep both humans and wildlife safe caught my eye.

Don’t we need some of these built in Canada?

How come we only get crooked bridges designed by shonky engineers that cause bottlenecks…

M46BC

Robert L.B. Tobin Land Bridge at Phil Hardberger Park.

The Land Bridge is the first in the world designed for the safe passage of both wildlife and people. At 150-feet long and 150-feet wide, it is the largest wildlife crossing constructed to date in the United States. Built across the busy lanes of Wurzbach Parkway, the Land Bridge unifies the previously divided 330-acre Hardberger Park located in north central San Antonio. Pedestrians and animals traversing the Land Bridge have the experience of climbing a peaceful hill, unaware of the roadway below. Amenities such as wildlife viewing blinds designed by local artists and a Skywalk that gently climbs through the treetops leading to the bridge offer park visitors unique new ways to connect with nature.

https://www.visitsanantonio.com/location/phil-hardberger-park/

#83 Balancing act! on 03.17.21 at 7:55 pm

#3 Newbie on 03.17.21 at 2:00 pm

I’m nearing rebalancing time. My preferreds (CPD) now are overweight at ~19% of my portfolio while my bonds (ZAG) are underweight at ~12% of my portfolio. Do I buy more ZAG to even this out even though expectations are that yields are going to continue to increase?

___________________

Yes, it is obvious that you are in fact a “newbie”. You should have ZIG’d (NYSEARCA: ZIG Acquirers Fund) instead of ZAG’d.

#84 Dean on 03.17.21 at 8:03 pm

April of 2010 the 30 year US Treasury Bond yield was 4.80% at it’s top. Today, it is still way below that at 2.41% or 50% below that top.

Will we go back to 4.80% again in coming years? Who knows. I would not want to lose another 15% to 20% on long term bond ETF’s like the last 12 months. Watch out.

#85 leebow on 03.17.21 at 8:06 pm

#73 Don Guillermo

Do you not find it repulsive? Say, you vote CPC and those grim clowns do something awful. How will you feel then about voting CPC?

There is absolutely no justification to being anywhere close to those people, main stream or not. Now you are trying to justify the evil of non-mainstream CPC by alleged Trudo’s bleeding heart.

Somehow, I doubt Trudo dreams about setting up concentration camps. Those people do. The chances of things turning into a mess are nonzero. Do you really want to take chances with that and be responsible in any way?

#86 TurnerNation on 03.17.21 at 8:14 pm

Betcha never thought the NDP would take Alberta. It would be a cold day in…it was.

Betcha never think these guys could take, BC or even Canada.
Look at their plan for LAND – the spoils of this WW3. It would shut down mining, O&G , which we kind know is the plan anyway. The Tools.

http://cpcbc.ca/?p=722
Communist Party of BC
INDIGENOUS PEOPLES WANT THEIR #LANDBACK

“Mine Sweeper Map” shows mining claims (red) linked to First Nations (green) [Credit: Yellowhead Institute]

https://redpaper.yellowheadinstitute.org/

….

— Posted previously, how far could this be pushed per the UN – land takeovers? We own nothing. Happy.

https://parl.ca/DocumentViewer/en/43-2/bill/C-15/first-reading
SUMMARY
An Act respecting the United Nations Declaration on the Rights of Indigenous Peoples

Whereas the Declaration emphasizes the urgent need to respect and promote the inherent rights of Indigenous peoples of the world which derive from their political, economic and social structures and from their cultures, spiritual traditions, histories, philosophies and legal systems, especially their rights to their lands, territories and resources;

Concerned that indigenous peoples have suffered from historic injustices as a result of, inter alia, their colonization and dispossession of their lands, territories and resources, thus preventing them from exercising, in particular, their right to development in accordance with their own needs and interests,

#87 Ponzius Pilatus on 03.17.21 at 8:28 pm

Inflation officially is 1%.
Sure.
Just got a dental estimate for a bridge.
6,400 dollars.
Highway robbery.
I’ll convert to Buddhism and come back as a dentist.

#88 alexinvestor on 03.17.21 at 8:33 pm

Jerome Powell in his comments today is committed to keeping rates low even if inflation rises. Everything to the moon. The poor will suffer, but they voted for these guys in the first place.

#89 Greg Georgina on 03.17.21 at 8:48 pm

Hugh, I had a gut feeling GIC rates were going down. I am in Manitoba and back in 2019 retired and took all my to LIRA’s and RRSP’s converted them LRIF’s, RRIF’s with their 3.30% 10 year term deposit at the local credit unions.

Some non-registered money and TFSA’s too at 3.30% 10 year. My annual interest paid is $25,000 a year and reinvest it all. The rest is $2,800 is annual compound interest earned in my TFSA’s.

My CPP, OAS, RRIF, LRIF I live off $3,200 a month and pay all my income taxes, property taxes, living expenses. The fact being debt free, no mortgage is helping alot these days. Hugh, my brother keeps telling me to buy with leveraged money high yield bonds, bond etf’s, bond funds and long term government, foreign bonds, bond etf’s, bond funds but I don’t like how they work and the fact it is with borrowed money.

#90 crowdedelevatorfartz on 03.17.21 at 8:50 pm

@#82 Flop

“The Land Bridge is the first in the world designed for the safe passage of both wildlife and people. ”

++++

They build them just for animals in Banff…

https://www.canadiangeographic.ca/article/banffs-famed-wildlife-overpasses-turn-20-world-looks-canada-conservation-inspiration

Too many animals got splattered until they built the animal overpasses.

#91 Ponzius Pilatus on 03.17.21 at 9:10 pm

82 flop
How come we only get crooked bridges designed by shonky engineers that cause bottlenecks…
———————
Are you referring to a regular poster here, who fancies himself a master engineer?

#92 Tyberius on 03.17.21 at 9:16 pm

Probably my best 12-month return ever: 240.89%

That’s because the bottom was March 17 2020 ( my portfolio suffered excessively on the dip), but I was agressive scooping up a lot of energy (in hindsight, not agressive enough!)

Now I’ve switched to mostly cash, some bonds, the odd cannabis smallcap…and quite a sizeable short position (Tech sector).
This Bull can’t run forever and it’s losing steam as we speak. All the stimulus is priced in, in my humble opinion.

#93 crowdedelevatorfartz on 03.17.21 at 9:27 pm

@#87 Profitable Periodontist

“Just got a dental estimate for a bridge.
6,400 dollars.”

++++

Far be it for me to suggest…
Judging from your endless talk…your dental repair costs may be based on the size of your ….. mouth?

#94 DON on 03.17.21 at 9:27 pm

#87 Ponzius Pilatus on 03.17.21 at 8:28 pm
Inflation officially is 1%.
Sure.
Just got a dental estimate for a bridge.
6,400 dollars.
Highway robbery.
I’ll convert to Buddhism and come back as a dentist.
**********

May be cheaper to go on a dental vacation to Mexico after everything opens up.

#95 KLNR on 03.17.21 at 9:30 pm

@#67 Ballingsford on 03.17.21 at 6:30 pm
With real estate going nutso in small towns these days, are the urbanites who move there getting warm welcome wagon receptions by the locals whose kids have now been shut out of buying a home in their hometown?

I did.
really nice, welcoming neighbours.
Wouldn’t expect anything less from my fellow Canadians.
Cool thing about rural living is not too many folks playing the victim card.

#96 Drill Baby Drill on 03.17.21 at 9:34 pm

“O Danny Boy” your very overpriced home awaits you.
“O Danny Boy” your Banker loves you.
“O Danny Boy” you are hooped for decades.
“O Danny Boy” I hope she is worth it.
“O Danny Boy” run while you still can.
“O Danny Boy” you grab a boat back to the green isle

#97 SOMETHINGS UP! on 03.17.21 at 9:37 pm

#40 Luca on 03.17.21 at 4:11 pm
Garth, I know you’ve been predicting wfh is temporary but Ford just announced it’s 30,000 employees will remain wfh post pandemic. I dunno Garth perhaps time for a new crystal ball?

That is 16% of the workforce of one corp. Don’t get too excited. – Garth

—————————————————————

“That’s 16% of the workforce of one corp.”
Wait until it becomes 16% of every corp.
The can just got peeled wide open.

Now everyone getting out of College wants to work for Ford and that sets the stage.

HR Rep: We would like to make you an offer.
Job Seeker: That’s GREAT!!
HR Rep: Do you have any other questions?
Job Seeker: Yes can I WFH like Ford employees can?
HR Rep: No we currently don’t operate like that.
Job Seeker: OK well thanks for the offer but I have to decline.

#98 Avid reader on 03.17.21 at 9:41 pm

Hi Garth,

Do you like the nasdaq index during the reopening phase and over the next few quarters in general?

I have a couch potato portfolio of TD e series index funds spread across US, Canadian, and international markets, with a small bond component (I am fairly young). I’ve also added a handful of mostly blue chip/value stocks over the years.

I am out of balance (too much Canadian) and looking to add more US exposure. I have few “growth” holdings and have been considering adding the nasdaq but have been reading the cycle is moving away from tech/growth and back to value. I’d appreciate you input and lay of the land (understanding nobody can predict the future!).

Btw, I picked up Rio-can 6 months ago on your suggestion (I agreed with your assessment) and it has been a real winner so far +25%, nice dividend)

Thanks!
:-)

#99 Phylis on 03.17.21 at 9:50 pm

#87 Ponzius Pilatus on 03.17.21 at 8:28 pm
Inflation officially is 1%.
Sure.
Just got a dental estimate for a bridge.
6,400 dollars.
Xxxxxx
Maybe they couldn’t fit a bridge in the basket.
(Painful attempt at a joke)

#100 Perspective on 03.17.21 at 10:30 pm

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

#101 The Woosh on 03.17.21 at 10:35 pm

#67 Ballingsford on 03.17.21 at 6:30 pm
With real estate going nutso in small towns these days, are the urbanites who move there getting warm welcome wagon receptions by the locals whose kids have now been shut out of buying a home in their hometown?

——————————————

Of course they are…with open arms. These said urbanites call in the electrician to put in pot lights, call the plumber to fix the old plumbing or redo the bathroom, order hardwood and get someone local to install it. The real estate lawyer I dealt with told me she normally works on 5-7 home closings per month but is now doing 27 per month. The money flows and everyone, and I mean everyone, is very happy. Come one, come all!

#102 Cowtown Cowboy on 03.17.21 at 10:37 pm

64 Stone on 03.17.21 at 6:23 pm
Great opportunities come along only once in a while. 2020 was a great opportunity. 2020 return for my balanced and diversified portfolio: 11.15%. That opportunity continues into 2021. 8.56% YTD. Yay! ETFs are the best, especially in a balanced and diversified portfolio.

Rub tummy!

—————————————————————

Jeezus, who gives sh!t about your pathetic returns???

#103 Don Guillermo on 03.17.21 at 10:38 pm

#85 leebow on 03.17.21 at 8:06 pm
#73 Don Guillermo

Do you not find it repulsive? Say, you vote CPC and those grim clowns do something awful. How will you feel then about voting CPC?

There is absolutely no justification to being anywhere close to those people, main stream or not. Now you are trying to justify the evil of non-mainstream CPC by alleged Trudo’s bleeding heart.

Somehow, I doubt Trudo dreams about setting up concentration camps. Those people do. The chances of things turning into a mess are nonzero. Do you really want to take chances with that and be responsible in any way
**************************

Wow, you’ve been damaged. Sorry for your loss.

#104 Long-Time Lurker on 03.17.21 at 10:52 pm

Hee hee hee! Having more fun in The Matrix!

Free your mind!

“Proof that….”

https://www.brighteon.com/e5c2cd2a-6a23-41ff-8430-345e81d176b5

#105 Nonplused on 03.17.21 at 11:12 pm

#86 TurnerNation on 03.17.21 at 8:14 pm

The queen (or king, not sure who was in charge at the time) stole the land fair and square. There is no point trying to go back over it any more so than trying to determine if it is fair that Jamaica is mostly black or Mexico is mostly Spanish. Sins were committed. But that was a long time ago. Let’s make sure everyone gets a fair shake from now on and move forward.

#106 Nonplused on 03.17.21 at 11:16 pm

#90 crowdedelevatorfartz on 03.17.21 at 8:50 pm
@#82 Flop

“The Land Bridge is the first in the world designed for the safe passage of both wildlife and people. ”

++++

They build them just for animals in Banff…

https://www.canadiangeographic.ca/article/banffs-famed-wildlife-overpasses-turn-20-world-looks-canada-conservation-inspiration

Too many animals got splattered until they built the animal overpasses.

—————————–

Ya, no. The fences work better than the overpasses. The predators (wolves, bears) quickly started using the choke points and now the prey animals have learned to avoid them. The highway is still a better boarder than Trump could have ever imagined building.

#107 Sue on 03.17.21 at 11:30 pm

Just sounds we are forming a top in alot of markets to me, but what do i know.

#108 IHCTD9 on 03.17.21 at 11:54 pm

#87 Ponzius Pilatus on 03.17.21 at 8:28 pm
Inflation officially is 1%.
Sure.
Just got a dental estimate for a bridge.
6,400 dollars.
Highway robbery.
I’ll convert to Buddhism and come back as a dentist.
———-

Or come back as a Vet. Our Cat needs one tooth pulled – $900.00. I bet it’ll take 10 minutes.

#109 Tony Faralla on 03.18.21 at 12:24 am

A 33% increase to the carbon tax from $30 to $40 a tonne on April-1-2021, happy April fools day. Inflation is low, 1.10%, yeah right. This will add to 8.8 cents a liter just for gas. Everything from food prices to energy costs to shipping costs will go even higher. Revenue neutral, no way.

#110 Sleep well at night on 03.18.21 at 12:48 am

#89 Greg Georgina on 03.17.21 at 8:48 pm

Hugh, I had a gut feeling GIC rates were going down. I am in Manitoba and back in 2019 retired and took all my to LIRA’s and RRSP’s converted them LRIF’s, RRIF’s with their 3.30% 10 year term deposit at the local credit unions.

Some non-registered money and TFSA’s too at 3.30% 10 year. My annual interest paid is $25,000 a year and reinvest it all. The rest is $2,800 is annual compound interest earned in my TFSA’s.

My CPP, OAS, RRIF, LRIF I live off $3,200 a month and pay all my income taxes, property taxes, living expenses. The fact being debt free, no mortgage is helping alot these days. Hugh, my brother keeps telling me to buy with leveraged money high yield bonds, bond etf’s, bond funds and long term government, foreign bonds, bond etf’s, bond funds but I don’t like how they work and the fact it is with borrowed money.

_______________________________________________

You obviously are satisfied with your setup, though my quick estimate, based on 2019 interest rates when you commuted is that you are doing no better than your pension would have provided you, yet you are the one who is responsible for the investment decisions and re-investment risk. (Of course, I would need to run the numbers to actually see how you are doing in comparison to giving up your pension option). While it pains me deeply to think that someone bought GICS, you at least were thoughtful enough to consider your options upon retirement. Most people are not.

If you are not comfortable with any risk, this is fine. Though I commuted my pension a couple of years before you and am currently on track to making 3. 5 times that return on investment.

Tell your brother to mind his own bees wax, assuming he is a beekeeper.
Besides, now is probably not the best time to be adding large equity sums to your portfolio.

#111 Son of a beach on 03.18.21 at 12:54 am

#88 alexinvestor on 03.17.21 at 8:33 pm

Jerome Powell in his comments today is committed to keeping rates low even if inflation rises. Everything to the moon. The poor will suffer, but they voted for these guys in the first place.

___________________

According to Elon, it’s everything to Mars.

And nobody voted for Powell directly. He was nominated by a Senate Banking Committee during Trumpster’s reign.

#112 fishman on 03.18.21 at 12:57 am

Who says we have to call our PM now as PM PM? Binky Barnes. Just by using PM PM as a moniker Binkey Barnes reveals himself as a Humphrey Appleby devotee.
The kind that fashions themselves after Humphrey Appleby. Pay no attention to these people. “”Big Potato ” was good enough for Mao & Chou en Lai for Pierre. ” lil potato” for the kid.

#113 Olga Yakupova on 03.18.21 at 1:20 am

What is a near-term outlook for the CAD vs USD? Is it reasonable to expect that it will continue to rally by the year-end?

#114 Ponzius Pilatus on 03.18.21 at 1:20 am

Median rents $ March 2021

https://smartcdn.prod.postmedia.digital/nationalpost/wp-content/uploads/2021/03/FP0318-rent-prices.png?quality=90&strip=all&w=944&type=webp

#115 Sail Away on 03.18.21 at 1:25 am

‘I remember sitting in psychology class learning about Pavlov, thinking, ‘Those stupid dogs’, then the bell went and we all had lunch.’

-Gary Delaney

#116 In dubio on 03.18.21 at 1:27 am

What is a near-term outlook for the CAD vs USD? Will it continue to rally by the year end?

#117 Dr talc on 03.18.21 at 2:44 am

Lawlessness, we are here:

Obviously the swab tests at our borders is a violation of the quarantine act
And

Requiring Canadians to provide PCR test to get on a plane home???

Looks like it violates this:
https://laws-lois.justice.gc.ca/eng/acts/G-2.5/FullText.html

#118 Zen Investor on 03.18.21 at 5:20 am

Diversification and safety by ETFs over Equities? You still have to have picked the winners out of thousands of ETFs that didn’t perform very well. And let’s dig deeper, the ETF is no different than an index because of its shotgun approach.

Only a few stocks in any group make all the money. In the TSE 300 for example fewer than 50 issues are profitable companies while the balance of 250 companies are unprofitable.

Buying the wrong ETF is just as risky as any stock. The difference is that you can read the balance sheet of an individual company but not through the simplified prospectus of an ETF. As many companies hidden in your ETF go broke as within any other selection.

As in any portfolio, never put all your eggs in one basket. But, if you’ve chosen just a few super-stocks then a dog now and again isn’t devastating. Ask any ETF or Mutual Fund manager and they’ll all tell you the same, being right more often than you’re wrong is the name of the game.

#119 leebow on 03.18.21 at 8:10 am

#103 Don Guillermo

Nah, I haven’t been damaged. You have no idea what’s going on because you have nothing to compare it to. You are unaware. But you have a strong opinion and that’s why you usually lose.

#120 crowdedelevatorfartz on 03.18.21 at 8:14 am

@#146 Nonplused
“The predators (wolves, bears) quickly started using the choke points and now the prey animals have learned to avoid them.”

+++

A fallacy and if you read the article you would know that.

#121 The Woosh on 03.18.21 at 8:33 am

#102 Cowtown Cowboy on 03.17.21 at 10:37 pm
64 Stone on 03.17.21 at 6:23 pm
Great opportunities come along only once in a while. 2020 was a great opportunity. 2020 return for my balanced and diversified portfolio: 11.15%. That opportunity continues into 2021. 8.56% YTD. Yay! ETFs are the best, especially in a balanced and diversified portfolio.

Rub tummy!

—————————————————————

Jeezus, who gives sh!t about your pathetic returns???

—————————————————

Apparently, not you but others do. Your envy is showing.

By the way, did you know that every time you post your bozo (the clown) comments here you’re adding to the planet’s carbon footprint. How about you quit giving Trudeau an excuse to increase the carbon tax and keep your useless thoughts inside your brain where they belong.

And here we come to the end of today’s public service announcement.

#122 IHCTD9 on 03.18.21 at 9:08 am

#90 crowdedelevatorfartz on 03.17.21 at 8:50 pm
@#82 Flop

“The Land Bridge is the first in the world designed for the safe passage of both wildlife and people. ”

++++

They build them just for animals in Banff…

https://www.canadiangeographic.ca/article/banffs-famed-wildlife-overpasses-turn-20-world-looks-canada-conservation-inspiration

Too many animals got splattered until they built the animal overpasses.
___

Hwy 69 north to Sudbury has these too, there are “underpasses” as well.

It looks like they get a lot of use from all kinds of animals from turtles to Moose.

https://eco-kare.com/wildlife-monitoring/wildlife-monitoring-highway-69-large-animals/

#123 IHCTD9 on 03.18.21 at 9:49 am

#85 leebow on 03.17.21 at 8:06 pm
#73 Don Guillermo

Do you not find it repulsive? Say, you vote CPC and those grim clowns do something awful. How will you feel then about voting CPC?

There is absolutely no justification to being anywhere close to those people, main stream or not. Now you are trying to justify the evil of non-mainstream CPC by alleged Trudo’s bleeding heart.

Somehow, I doubt Trudo dreams about setting up concentration camps. Those people do. The chances of things turning into a mess are nonzero. Do you really want to take chances with that and be responsible in any way?
___

Sounds like you are asserting that if radical elements exist within “X” Politician’s voting base, and you don’t agree with said radical element’s words/actions, and even though said radicals are not Politicians, and are not on the ballot – that you should not vote for “X” Politician who may or may not even be aware of said radicals’ existence?

Are you sure you want to go down that road homie?

#124 Mattl on 03.18.21 at 9:49 am

#64 Stone on 03.17.21 at 6:23 pm
Great opportunities come along only once in a while. 2020 was a great opportunity. 2020 return for my balanced and diversified portfolio: 11.15%. That opportunity continues into 2021. 8.56% YTD. Yay! ETFs are the best, especially in a balanced and diversified portfolio.

Rub tummy!

—————————————————————-

Such strange behavior to endlessly brag about a portfolio that returned 2/3s of the SP 500. I’m also balanced, and 10% YOY gets me where I need to be. But hardly something to brag about, getting returns everyone should get in recent markets.

You realize we are in a 12 year bull market right? Everyone is doing well.

So congrats on being average man! Now tell us about your Honda civic and how you finally benched 150 yesterday.

#125 Cowtown Cowboy on 03.18.21 at 10:11 am

#121 The Woosh on 03.18.21 at 8:33 am
#102 Cowtown Cowboy on 03.17.21 at 10:37 pm
64 Stone on 03.17.21 at 6:23 pm
Great opportunities come along only once in a while. 2020 was a great opportunity. 2020 return for my balanced and diversified portfolio: 11.15%. That opportunity continues into 2021. 8.56% YTD. Yay! ETFs are the best, especially in a balanced and diversified portfolio.

Rub tummy!

—————————————————————

Jeezus, who gives sh!t about your pathetic returns???

—————————————————

Apparently, not you but others do. Your envy is showing.

By the way, did you know that every time you post your bozo (the clown) comments here you’re adding to the planet’s carbon footprint. How about you quit giving Trudeau an excuse to increase the carbon tax and keep your useless thoughts inside your brain where they belong.

And here we come to the end of today’s public service announcement

—————————————————————–

Oooooh, got me…”Whoosh” is that the sound the wind makes blowing through your ears????

Being in the top 97.5% for net worth I don’t have much envy..especially from keyboard warriors on anonymous chat rooms

Now back to your parents basement with you

#126 leebow on 03.18.21 at 10:24 am

#123 IHCTD9

You truly are hopeless. You sincerely believe politicians are not acutely aware who is their base? Man, you gotta really look beyond the theatrics. Did you totally miss the last few years? I’m not even talking about the previous century.

#127 The Woosh on 03.18.21 at 10:35 am

125 Cowtown Cowboy on 03.18.21 at 10:11 am
#121 The Woosh on 03.18.21 at 8:33 am
#102 Cowtown Cowboy on 03.17.21 at 10:37 pm
64 Stone on 03.17.21 at 6:23 pm
Great opportunities come along only once in a while. 2020 was a great opportunity. 2020 return for my balanced and diversified portfolio: 11.15%. That opportunity continues into 2021. 8.56% YTD. Yay! ETFs are the best, especially in a balanced and diversified portfolio.

Rub tummy!

—————————————————————

Jeezus, who gives sh!t about your pathetic returns???

—————————————————

Apparently, not you but others do. Your envy is showing.

By the way, did you know that every time you post your bozo (the clown) comments here you’re adding to the planet’s carbon footprint. How about you quit giving Trudeau an excuse to increase the carbon tax and keep your useless thoughts inside your brain where they belong.

And here we come to the end of today’s public service announcement

—————————————————————–

Oooooh, got me…”Whoosh” is that the sound the wind makes blowing through your ears????

Being in the top 97.5% for net worth I don’t have much envy..especially from keyboard warriors on anonymous chat rooms

Now back to your parents basement with you

—————————————

Of course you are…snicker, snicker!

#128 MT on 03.18.21 at 10:39 am

#67 Ballingsford –

Ha, now that’s a good question. And I’m pretty sure the answer is “it depends”. I know for certain that here in rural NS there’s drama, and locals are pissed, when come-from-aways build McMansions that jack up the adjacent property taxes, pricing out the long-time residents.

You also don’t want to be the Toronto ex-pat sniffing condescendingly at how “quaint” (read: slow and backwards) everything is, surefire way not to make friends.

But local businesses might like it.

#129 Sail Away on 03.18.21 at 10:40 am

BC’s fall migration of Western Toads Is something to behold: gazillions (yes, that’s a number) of tiny gray toads blanketing the earth. You generally notice when the ground seems… squishy… then look closer and realize the surface is shimmering and moving with these miniscule amphibians. The unfortunate thing is that by the time you notice, you’ve likely already crushed multitudes and will crush multitudes more before escaping the crush.

Another karmic debt. Sigh.

#130 Doug in London on 03.18.21 at 10:43 am

@Stone, post #64:
I suspect you had the basic kindergarten level common sense to buy equities a year ago when they were on sale. I don’t know my rate of return over the last year but, like you, I’ve made some great gains also. Don’t pay any attention to the negative comments here in the steerage section. I think anyone who had a diversified portfolio could have moved out of fixed income assets and into equities that were on sale a year ago, but many here didn’t. As the saying goes, when opportunity knocks many people complain about the noise.

On a different note, the only real estate I own is in REITs, of which I increased my holdings last year when they were on sale. That’s not likely to change any time soon.

As for those preferred share ETFs, I’ve read a lot of bellyaching about how they’ve gone nowhere over the years, even though they’ve paid good dividends over all those years. With how they’ve appreciated lately, I’m glad to have bought and held. It reminds me of a sign I saw at a tire sales and repair place in Timmins that said: Patience is not just a virtue, it’s a bloody necessity!

#131 IHCTD9 on 03.18.21 at 10:56 am

#126 leebow on 03.18.21 at 10:24 am
#123 IHCTD9

You truly are hopeless. You sincerely believe politicians are not acutely aware who is their base? Man, you gotta really look beyond the theatrics. Did you totally miss the last few years? I’m not even talking about the previous century.
___

Dancing already?

How about just answering the question?

Should a voter shun a politician because he/she finds certain intolerable elements within said politician’s presumed voter base, or not?

Please remain on point, and answer with as few words as possible.

#132 IHCTD9 on 03.18.21 at 11:09 am

Just look at that sweetheart:

https://www.yamaha-motor.ca/en/off-road/side-by-side/multi-purpose/2021-wolverine-rmax-eps/2021-YX10EPAMS

Mmmm, they’ve even got a few new colours coming out this year that I think Faron would really like.

#133 Dina Sandoval on 03.18.21 at 11:18 am

Hey there sleep well at night, the GIC’s are not the problem. I understand what you are saying that GIC’s always returned much less than equities, bonds but are really being artificially distorted since 2008 happened. It is the fact that central banks are not telling the real annual inflation numbers, manipulating market interest rates with QE, bond buying, money printing and many other mechanisms like operation twist etc.

Today, GIC rates should be at least 3.25% to 3.5% for 1-3 years, 3.75% to 4.25% for 4-7 years, 8-10 years 4.5%. This is just the minimum they should be. In recent months interest rates on government bonds have been increasing but are still low historically but GIC rates still lag these interest rate rises.

This interest rates manipulation for years and pandemic now caused many to speculate in longer term bond ETF’s and we see how it is easy to lose 7% to 21% in months to 1 year.

#134 Wrk.dover on 03.18.21 at 11:49 am

#132 IHCTD9 on 03.18.21 at 11:09 am
Just look at that sweetheart:

https://www.yamaha-motor.ca/en/off-road/side-by-side/multi-purpose/2021-wolverine-rmax-eps/2021-YX10EPAMS

—————————————————

Any PTO available on these kiddie toys yet?

#135 Faron on 03.18.21 at 11:53 am

#132 IHCTD9 on 03.18.21 at 11:09 am

Ha ha ha, you optimize your energy bills by going all wood burning, bitch to no end about trudeau spending but you’ll drop $25k on a manchild’s tonka truck specifically marketed to fleece you out of your dolla billz. Genius. “But it’s a tool”. Yes, you are a tool.

#136 jess on 03.18.21 at 11:56 am

a warning from Muncie -bad data fabricated studies
a Gresham dynamic

https://www.thestarpress.com/story/opinion/columnists/2020/08/30/michael-hicks-greshams-law-and-subsidized-apartments/3433745001/

#137 Brian Ripley on 03.18.21 at 12:02 pm

“PS, Brian if you are reading this I think you should take Calgary out of the Van-Cal-Tor Condos line. All Calgary is doing is weighting down the horror that is the Van-Tor condos numbers.” #72 Nonplused on 03.17.21 at 7:06 pm

The 2nd chart on this page: http://www.chpc.biz/6-canadian-metros.html
shows ex-Calgary
​​
The average of the summed prices of Vancouver + Calgary + Toronto condos is 15% higher than a median priced Montreal SF Detached. Ex-Calgary, it was 45% higher.

In FEB 2018 the metrics were 73% and 106% higher respectively!

#138 Faron on 03.18.21 at 12:03 pm

#132 IHCTD9 on 03.18.21 at 11:09 am

Just look at that sweetheart:

https://www.yamaha-motor.ca/en/off-road/side-by-side/multi-purpose/2021-wolverine-rmax-eps/2021-YX10EPAMS

Even funnier is that some dweeb like me wrote the ad copy and did the cosmetics on that thing knowing full well how easily middle aged men are played.

choice:

“stealthy front LED lights and ‘evil-eye’ marker lights… trail-dominating performance.”

pfffff. But hey, it has:

“Automotive-Style Soft Touchpoints” so you don’t break a nail.

and

“wide bolstering and additional leg room for larger occupants” in case you put on a COVID 30 as I have.

It sure is a good thing that we have guardrails like these to tell us what real men are.

ba ha ha ha haaa. Sure it’s fun as heck to drive one of those though…

#139 jess on 03.18.21 at 12:09 pm

https://www.theglobeandmail.com/opinion/article-the-supply-crisis-in-canadas-housing-market-isnt-backed-up-by-the/

#140 Larry Chapin on 03.18.21 at 12:11 pm

Hahaha, the IMF accuses Trudeau of “ losing credibility”. Now how many different ways could you say that? Pushing 50% of GDP and 4% +++ earmarked for more election pork? I’d say Canada’s credibility is out the window like a body through a windshield .

https://financialpost.com/news/economy/imf-sees-canadas-economy-rebounding-says-government-needs-fiscal-anchor-2

#141 Dr V on 03.18.21 at 12:13 pm

125 cowtown

Top 97.5 for net worth? Yeah……ok. Many of us here are in the top single digits. But keep at it!

#142 IHCTD9 on 03.18.21 at 12:29 pm

#134 Wrk.dover on 03.18.21 at 11:49 am
#132 IHCTD9 on 03.18.21 at 11:09 am
Just look at that sweetheart:

https://www.yamaha-motor.ca/en/off-road/side-by-side/multi-purpose/2021-wolverine-rmax-eps/2021-YX10EPAMS

—————————————————

Any PTO available on these kiddie toys yet?

_________

These are toys for Men homie, REAL MEN. I mean, with colours like “Tactical Black” this fact should not need any explanation at all.

#143 IHCTD9 on 03.18.21 at 1:04 pm

#135 Faron on 03.18.21 at 11:53 am
#132 IHCTD9 on 03.18.21 at 11:09 am

Ha ha ha, you optimize your energy bills by going all wood burning, bitch to no end about trudeau spending but you’ll drop $25k on a manchild’s tonka truck specifically marketed to fleece you out of your dolla billz. Genius. “But it’s a tool”. Yes, you are a tool.
____

You’re probably right. Who am I to spend 25K on a toy in a post-Trudeaocolypse Canada where most folks can barely afford to rent?

Ah whatev, I didn’t vote for the guy, so…

What do you think broheim? Should I go for “RPG red”, or “Mansplain Metallic”?

#144 IHCTD9 on 03.18.21 at 1:09 pm

#142 IHCTD9 on 03.18.21 at 12:29 pm
#134 Wrk.dover on 03.18.21 at 11:49 am
#132 IHCTD9 on 03.18.21 at 11:09 am
Just look at that sweetheart:

https://www.yamaha-motor.ca/en/off-road/side-by-side/multi-purpose/2021-wolverine-rmax-eps/2021-YX10EPAMS

—————————————————

Any PTO available on these kiddie toys yet?

_________

These are toys for Men homie, REAL MEN. I mean, with colours like “Tactical Black” this fact should not need any explanation at all.
___

Oh, and no PTO. They don’t even weigh a ton, and have super soft long travel suspension – so no point. I wouldn’t even attempt to plow snow with one of these things, I suspect it would be a PITA.

If I do pull the trigger on one of these, I just buy one of those walk behind blowers (provided they come in full tactical real tree camo, and a gun boot).

#145 Shawn Chanderbhan on 03.18.21 at 1:51 pm

Look at Canadian bond yields, jumping only half what US bond yields are today. The Bank of Canada is buying up more bonds to stop the rise in yields.

#146 IHCTD9 on 03.18.21 at 2:00 pm

https://www.thestar.com/opinion/star-columnists/2020/04/17/canada-needs-its-migrant-workers-but-in-this-pandemic-we-cant-be-bothered-to-value-them.html

I thought we were all in this together? My license plate sticker has been expired for months – no problem, Ford suspended expiries till further notice. Done. Why is Trudeau not doing the same thing Ford did? It’s not like they need to do a study on it. Just suspend SIN expiries like Ford did for stickers and licensees. What exactly is the holdup Liberals?

Looks like the Trudeau government is too busy making sure that perfectly secure Canadians don’t have to pay any income taxes on their CERB benefits. Suspending SIN expiries is a highly complicated process that could take years. Eliminating taxes for well off Canadians is a much more streamlined process.

“We’re not asking for a handout,” said Danilo Dee from Edmonton, who came to Alberta in 2009. “We are workers like anybody else and we don’t deserve to be left behind.”

Sorry Danilo? You told Trudeau that you were poor, and really needed some help? There’s your problem. Call them back and tell them you own a million dollar house in the gta, and are securely employed – that’s the fastest way to get some support from the Liberals.

Columnist Shree Paradkar sums it all up in one sentence: “We need these workers, but we can’t be bothered to value them because let’s face it: we’re rich, they’re not.”

The Liberal M.O. in a nutshell right there – keep the rich happy, **** everyone else. One thing we can rest assured of in Canada, is that at least 33.12% of voting Canadians must be pretty well off.

#147 westcdn on 03.18.21 at 2:03 pm

I sigh in the morning and I down $7,000. later I sign in later and I am up $6,000 , God is weird. I did like my uncle Fred. He wanted me on his team.

He wrote letters to the families to the men who died for him. Small condolence.

#148 Cowtown Cowboy on 03.18.21 at 2:06 pm

#141 Dr V on 03.18.21 at 12:13 pm
125 cowtown

Top 97.5 for net worth? Yeah……ok. Many of us here are in the top single digits. But keep at it!

——————————————————–

What exactly are you a dr off??? Pimple Popper??

That’s percentile, ie. Apparently I have more then 97.5% of the population..I’m richer then I think

#149 IHCTD9 on 03.18.21 at 2:34 pm

#138 Faron on 03.18.21 at 12:03 pm

Even funnier is that some dweeb like me wrote the ad copy and did the cosmetics on that thing knowing full well how easily middle aged men are played.

choice:

“stealthy front LED lights and ‘evil-eye’ marker lights… trail-dominating performance.”

pfffff. But hey, it has:

“Automotive-Style Soft Touchpoints” so you don’t break a nail.

and

“wide bolstering and additional leg room for larger occupants” in case you put on a COVID 30 as I have.
___

Yeah the marketing sucks, but the market itself for these things is off the hook, competition between the “big 5” is ultra intense, and truthfully this particular sxs is likely aimed at a buyer a bit younger than I.

I love this one because of the huge tires, square setup, monster adjustable suspension, and the new 108 HP twin – much bigger and badder than you normally see from YAMAHA when it comes to ATV’s and SXS’s. You still get that great wet clutch constant belt tension set up that only YAMAHA does, and that top tier quality rivaled only by HONDA.

25K gets you the base model, the one I want is ~30K. There is no cool, good, cheap, brand-new SXS. Pay to play deal, and I learned that this is a hobby where buying the best pays off in spades, especially if you go out a lot on your own. The RMax is likely the best choice out there for any guy who will likely still own the thing at 60. A great “Old Man” SXS

#150 DM in C on 03.18.21 at 2:53 pm

Checked on my self-directed work RRSP (not our personal TSFA or registered accounts)

3 year return – 10.6%
1 year return – 22.6%

Pretty happy about it.

#151 Sail Away on 03.18.21 at 3:12 pm

#147 westcdn on 03.18.21 at 2:03 pm

[My uncle] wrote letters to the families to the men who died for him. Small condolence.

————

‘Fuggedaboudit’?

#152 Dr V on 03.18.21 at 3:27 pm

148 Cowtown – on I knew what you meant, but here is what you said cut and pasted

“Being in the top 97.5% for net worth”

Just promise me not to use “dolce math” for calculating returns.

And it’s a doctorate in “Vampire Studies”

https://www.uvic.ca/humanities/germanicslavic/assets/docs/outlines/GMST%20454%202017..pdf

All good!

#153 AM in MN on 03.19.21 at 12:13 am

#61 S.Bby on 03.17.21 at 6:01 pm

You live in dollars. What’s the difference? – Garth
———————————-

The gains are an illusion. No real growth.

——————————————

It will be that 70’s show again…

First come the price hikes on basically everything, because we live in a world of global prices. Food is the most important, but energy and the things derived from minerals, and then services of professionals who could otherwise leave…and on and on and on.

Govt. Unions will demand pay raises to cover the inflation, remember 8% per year?

There is a long lag before inflation takes it’s toll, including on the social fabric as it becomes apparent that there are winners, not just losers (vast majority)

The mess can take a decade to mop up. Hard money is the only fix, you can’t grow your way out of a welfare state.

Remember always, as with so many things about society that people complain about, Bitcoin fixes this.