To the core

Just three more sleeps before B-Day.

Will Chrystia and Justin drop the hammer on housing? Nibble around the edges? Throw gas on the flames? The debate has been raging. Some bankers (RBC, BMO) are literally begging for a govy intervention to save people from themselves. Other financial heavyweights (TD, Scotia) argue things will self-correct, especially as Covid fades and a ton of new listings hit the market.

Realtors are lovin’ it. Buyers are disgusted. Prices have spiked wildly amid cheap money, WFH, aggressive nesting and now dollops of FOMO. What a wicked combination this has been. It’s historic. I thought I’d lived through the worst housing escalation ever in the late 1980s. Nope. This is far more intense and, maybe, destructive.

The facts are arresting. Shocking, even.

  • More properties changed hands last month than… ever. Over seventy-six thousand sales.
  • The average national house price is up 31.6% in one year. Nothing in history has come close. It sits at $713,700, so the average household cannot afford the average place.
  • The insanity is everywhere. For the first time, a real estate bubble is more suburban, rural, small-town than urban. This is completely new and socially disruptive. In Bancroft, Sooke, Owen Sound and Nanoose, Wolfville or Peachland they wonder what the hell hit them.
  • Levels of inventory have collapsed. The long-term average was five months. Now it’s less than two. Another record.
  • Leverage is off the charts. Cheap money and the delusional belief rates will never increase have seduced buyers into new territory. Almost a fifth of borrowers now have debts equal to 450% or more of their incomes.

So sales are up 76% over last year and houses cost a third more. Nobody saw this coming in March of 2020 when something called Covid-19 caused society to go into lockdowns, quarantines and restrictions unknown in modern history. A year later over a million of us got the virus, 23,500 Canadians have died and our biggest provinces are going dark as the third wave hits. Five million people are still working from home and public finances are shot. These are uncharted times.

Should government act? Or let the market run hot and possibly implode? Will the greater fool be the fool who follows, or the one who bailed?

It was interesting to read the latest missive from mortgage broker/blogger Rob McLister. “The fear is that the market is like a nuclear reactor running too hot, i.e. prone to an accident,” he says. “It’s not Chernobyl by any means, but a Chalk River-style partial meltdown could be in the cards if market imbalances take values much higher.” And he echoes what a certain pathetic blog has been yammering about for months now…

This is truly a once-in-a-generation nationwide aberration that’s leaving young buyers with fewer and fewer homeownership options. Buyer desperation has been growing by the week and it’s leading a record number of people to pay as much as lenders will approve them for.”

Meanwhile mortgage rates are plumping a little, which has spurred buyers into action. The stress test will get more onerous starting June 1st, which has accelerated buying intentions. Federal immigration quotas are about to expand, adding buyers. Building material supplies have crashed and prices bloated, spiking construction costs. And FOMO – fear of missing out – is at screaming pitch as news of the March housing stats spreads. In short, the melt-up that could lead to a melt-down continues.

Oh, and did we mention benchmark housing prices nationally rose by an annualized 37.2% last month? In Woodstock (birthplace of legendary bloggers) the price jump was 8% in March. Yup, that’s 96% per year. And it’s rutting season. What will April and May bring?

Outta control, of course. “The pace of Canadian home sales and prices is simply in uncharted territory,” says BeeMo’s Doug Porter. “Given the extreme market imbalance currently at play, almost entirely due to fiery demand, look for the record pace of price gains to spread far and wide beyond Ontario.” The old record for price hysteria – set in the late 1980s, “has been shattered.”

As mentioned, TD economists are cautioning against government diddling in the market (which rarely works), and instead saying it’s time for the Bank of Canada to throttle back on stimulus and start raising rates. “The quickest route to cooling this market and squeezing out speculation comes down to the interest rate channel, and therein lies the solution. Canada had one of the larger downward movements in mortgage rates relative to other countries, and the current monetary stance may no longer be appropriate for this segment of the market.”

Well, Monday could bring one of three outcomes. The feds do nothing of substance. The market roars. They can try to help newbie buyers with more incentives. The market roars. Or they can bring in a national spec tax, start taxing windfall equity profits on a graduated basis, increase minimum down payments, tighten debt ratios, encourage provinces to reform rules around blind auctions and end the tax-free raiding of RRSPs for real estate. But that’s not happening.

So, let it nuke.

About the picture: “I read your dog blog nearly every day,” writes Jane, “so I thought I’d toss you this photo of our 5-year old cockapoo, Charlie (or Chuckles as he is affectionately called). We weren’t looking for this designer faux-breed of a dog but a friend of ours knew of a young millennial couple who bought a cute little puppy before realizing just how much work puppies are. When they were expecting their first baby, the dog had to go. Chuckles settled right in with our family. People just need to have realistic expectations and not jump the gun. We like to call this photo “Covid hair, don’t care”.

151 comments ↓

#1 We lives Freeland on 04.16.21 at 1:09 pm

I said in 2004 this couldn’t possibly continue. That didn’t age well at all. I’m still a bear, but by some miracle keep getting wealthier. May God bless you all.

#2 Honour Our Front Line Heroes - Our REALTORS® on 04.16.21 at 1:10 pm

REALTORS® have made a huge difference in helping Canadians deal with the pandemic.

A home is more than just a house or apartment. REALTORS® can help you make it happen.

Wishing a great spring to everyone!

#3 Zhorgon on 04.16.21 at 1:22 pm

Hmm, a 70’s TLC basement apartment in Kelowna or a manor house in France for the same price. Tough choice.

https://www.green-acres.fr/en/properties/98191.htm

#4 1984 on 04.16.21 at 1:25 pm

There is no future for young people in this city of Toronto.

The rest of Canada will end up like Toronto; a city for the rich and backed by a police force that protects and serve the rich in Bridle Path.

The future of Toronto is Johannesburg during apartheid.

#5 Adam Smith on 04.16.21 at 1:30 pm

It’s weird that Trudeau gets so much of his support from the young considering his policy regarding national debt and asset bubbles is basically “eat the young.”

https://www.thepigarse.com/post/liberal-party-promises-to-borrow-money-if-reelected-also-print-money

#6 TurnerNation on 04.16.21 at 1:30 pm

And this war is about the land. Get off it.

.Ontario MNRF @ONresources
As of April 16, 12:01 a.m., recreational camping on Crown land will be prohibited to help stop the spread of #COVID19.

[email protected] @cityoftoronto staff erecting fences around the cherry blossoms to discourage crowds in Trinity Bellwoods Park. Homeless encampments remain, however.

—— For Docle et al. Science or Voodoo? Heard even the CDC recommends 33? ‘Still a lot to learn it says’? (As they shut down our way of life…)

https://www.publichealthontario.ca/en/about/blog/2021/explained-covid19-pcr-testing-and-cycle-thresholds
“17 Feb 2021 The cutoff point for a negative result is 40 cycles. If the virus is detected between 38 and 40 cycles, we call this an indeterminate or inconclusive result. All inconclusive results are considered probable (likely) cases for public health reporting.
There is still a lot to learn about Ct values and more research is required to fully understand Ct values and their link to disease onset, severity and infectiousness”

https://www.cdc.gov/coronavirus/2019-ncov/php/invest-criteria.html
“If detected by RT-PCR, only include if Ct value >UBI: University grads, trouble finding jobs. (Maybe they are “non essential”?). The Prof suggests UBI, natch.

“I would expect some sort of support for young people, either in the form of a nod toward universal basic income, which I don’t think they can afford, or perhaps better support and job training and experiential learning.”
https://www.cbc.ca/news/canada/toronto/students-describe-the-stress-of-job-searching-1.5985168

— They say as you age your body catches up with your soul. Or is it the other way around. Looks don’t lie.
Someone say who spent a ton of time doing bad things reflects this in the end.

(Needless to say our Forum Host still has those chiseled rampart features, with the sheen of immaculately coiffed hirsuteness. Carry on)

.https://www.dailymail.co.uk/news/article-9474509/How-Justin-Trudeau-lost-looks-Canadian-PM-49-looks-far-cry-heart-throb-heyday.html

#7 Billy Buoy on 04.16.21 at 1:31 pm

Rates need to be UP, rates should be UP but no one can answer the Trillion dollar question…

If and when Rates do go UP, what happens to all the leveraged debt and WHO is going to support those who gambled and loss????

With Gov’t debt levels at all time records and personal debt high WHO is going to support housing and feeding these people?

WHO? Please tell me? There is so much $$ from the tax tree and it’s not growing.

Again, I ask…who?

#8 Another Deckchair on 04.16.21 at 1:31 pm

COVID-19 and complacency.

Check the traffic on the roads. A year ago, traffic cameras showed things eerily quiet.

Now? CBC Ottawa has a pic of the 417 with an overhead sign saying “STAY HOME”, with all the lanes full of traffic.

A leading cause of industrial accidents is complacency.

Anyone want to bet if it’ll also be the leading cause due to a new lack of respect for COVID-19?

Just sayin’ Now, I’ve got my 1st vaccine coming Saturday, so I’ll be on the road…

#9 Our Beloved Banks on 04.16.21 at 1:33 pm

The drug dealers are begging for someone to help the drug addicts from buying drugs from them. They just can’t stop selling those darn drugs to the addicts without outside help.

Seriously?

#10 ogdoad on 04.16.21 at 1:34 pm

Good luck selling then moving ‘up’. Average house across Canada sits at 713K? Doesn’t that mean that 70% of Canadians, who are home owners, are now sitting on, what used to be, a fortune? Inflation, inflation, inflation…Good luck funding your retirement, too, on only sale proceeds unless you plan on moving to Thailand….actually, may not be a bad idea…

hahaha….everybody thinks they’re rich until they sell and realize how poor they actually are…

Keep your house kids…help your mams and paps to leave feet first…grow community, the only reasonable existence – along with weed and booze, that is.

Og

#11 Billy Buoy on 04.16.21 at 1:35 pm

Local Liberal Candidate posted an ad on Facebook last week stating..

“Vote for me and I’ll ensure OAS payments raise for our seniors.”

I asked 1 question “How are you and your party going to pay for it?”

Not only was question not answered, I was blocked!

Seriously. Looking forward to showing up at a rally and asking the same question we ALL should be asking.

#12 alexinvestor on 04.16.21 at 1:37 pm

RBC & BMO could incentivize their front line staff not to take risky loans, but of course they are not going to do that. I see these bankers are talking one thing but doing another.

#3 That’s a sweet place. If I didn’t have ties, I would definitely cash out and go live there. I doubt my employer would even notice.

#13 The real Kip (Ret) on 04.16.21 at 1:50 pm

A trillion here, a trillion there. Is anyone really counting?

#14 X on 04.16.21 at 1:52 pm

Yeah, I expect nothing on Monday.

I do wonder at what point rates will begin to rise to put some water on this fire.

#15 active on 04.16.21 at 1:53 pm

36, $900K liquid, glad I don’t own real-estate, what a complete sh*t show out there. GFLTA.

#16 Cottagers STAY THE HELL AWAY! on 04.16.21 at 2:04 pm

JUST STOP IT, ALL YOU SELFISH PSYCOPATHS FROM THE GTA!!

STAY AWAY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Now Grey-Bruce is in critical condition thanks to inbred southern hillbillies spreading Covid.

https://globalnews.ca/video/7759454/ontarios-grey-bruce-health-unit-declares-covid-19-critical-threshold-amid-case-surge

“critical threshold” due to soaring case numbers and trouble conducting contact tracing, with the public health department saying a major driver has been people not following lockdown restrictions”

https://nationalpost.com/news/canada/all-grey-bruce-residents-told-to-assume-they-have-covid-19-after-outbreak-of-73-cases-in-36-hours

We DON’T NEED YOU!

You are PARASITES!

Stay home in Oakville or Richmond Hill or whatever.

DON’T COME UP HERE!!!

2021 is a WRITE-OFF for cottaging – get over it!

Come back in 2022 with your vaccine passport.

Or

Just.

Stay.

Home.

#17 Sean on 04.16.21 at 2:06 pm

> Should government act? Or let the market run hot and possibly implode?

Even if it took some of us a bit longer after 2009 to figure this out, we know well know they cannot act (even if they wanted to).

All governments want inflation and bubbles are a way to get it. No-questions-asked CERB here, Biden’s Billions there… That how they roll.

Once implosion starts it will be unstoppable and everything at once – not just RE, and not just in Canada. Places and players with more excess will suffer more.

#18 [email protected] on 04.16.21 at 2:06 pm

Some bankers (RBC, BMO) are literally begging for a govy intervention to save people from themselves.

This is what that sounds like:
https://cdn2-www.mandatory.com/assets/uploads/gallery/25-gifs-that-prove-jim-carrey-was-at-his-rawest-in-the-mask/stop-me.gif

#19 Chris on 04.16.21 at 2:17 pm

I’m a 29 year old guy. Paid off my student debt and only have a modest car loan on an economical vehicle. I make $65k a year and have $30k in savings – all in all, doing far better than most of the people that I know.

What the hell do I do right now? I can’t buy anywhere that isn’t Tuktoyaktuk and am stuck renting for the foreseeable future, that is unless I can find a rich girlfriend (not banking on it) or my parents win the lottery (slightly higher chance).

What is a young, responsible guy making an average wage supposed to do in this economy? Invest my modest savings and pray?

#20 Guelph Guru on 04.16.21 at 2:22 pm

I think, lot’s of warnings and talk. No action.

The market roars.
The last burst of fuel to propel into the stratosphere.
Mr. Bond goes to work.
and then the inevitable decent.
Crash? Don’t know.

#21 Inequity on 04.16.21 at 2:22 pm

The weather is going to be nice… me and the fam are off to the cottage! Woot! :D
Stop by for burgers and beer, or maybe even a scotch!

#22 Linda on 04.16.21 at 2:23 pm

Speaking of construction costs, my home builder acquaintance shared some numbers. The local home building industry estimates that the rise in construction material prices will add $80K – eighty thousand dollars – per door. Expectation is that smaller home builders will have to return deposits/break contracts as they simply can’t absorb that kind of cost over run without going broke themselves. Larger builders have a bit more leeway, but the bottom line is that these kind of price increases are going to have an impact on housing starts & will definitely have an impact on housing price tags.

#23 Chris Sky on 04.16.21 at 2:25 pm

Anyone thikning home prices are going down do tnunderstad the globalist agenda at play.

Our rights are being stolen through many means.

I was ilegly added to the no fly list by this communist government.

#justsayno

#24 45north on 04.16.21 at 2:33 pm

Realtors are lovin’ it. Buyers are disgusted. Prices have spiked wildly amid cheap money, WFH, aggressive nesting and now dollops of FOMO. What a wicked combination this has been. It’s historic. I thought I’d lived through the worst housing escalation ever in the late 1980s. Nope. This is far more intense and, maybe, destructive.

this is destructive. Yesterday Don posted a review of the 2007 Financial Crisis in the US. I’ll make a separate post about it. The Canadian market today is more extreme than the US was then. As you say this is insane. It’s gonna be worse but it’ll be worse in different ways.

This is going to be a very different country. I’m afraid the gap between the haves and and the have-nots will get wider and will be cemented in place. It’s going to be a generational thing – you’re parents are poor and on drugs and so are you. C’est très ironique. The government that promises hope and prosperity presides over the process that leads to hopelessness and poverty.

#25 cristian on 04.16.21 at 2:35 pm

In the meantime GDP will plummet as Ontario looks to close down a lot more businesses today .. so no raise of rates on the horizon

#26 45north on 04.16.21 at 2:35 pm

from yesterday
Don Actions speak louder than words.
https://www.thebalance.com/2007-financial-crisis-overview-3306138

the article is titled
2007 Financial Crisis Explanation, Causes, and Timeline

The article gives five key takeaways. Key takeaway number four: “the housing industry’s downturn became the financial industry’s catastrophe”. So if the Canadian housing industry turned down would that lead to the Canadian financial industry’s catastrophe?

I don’t have the background nor the facts to make a judgement but it seems the Canadian experience could parallel the US. Precursors to the US catastrophe were the fall in house prices followed by home sales peak in February 2007. What’s going to happen when house prices fall and when home sales peak? Are they going to go up forever?

From the article

“The research did show that price declines of 10%-15% were enough to eliminate most homeowners’ equity.3 Federal Deposit Insurance Corporation. “The Housing Bubble and Its Implication for the Economy, Page 6.” Accessed Nov. 22, 2019.  Without equity, defaulting homeowners had little incentive to pay off a house they could no longer sell.”

Sound pretty ominous.

From the article

“But economists didn’t think prices would fall that far. They also believed homeowners would take their homes off the market before selling at such a loss. They assumed homeowners would refinance. Mortgage rates were only half those in the 1980 recession. Economists thought that would be enough to allow mortgage holders to refinance, reducing foreclosures. They didn’t consider that banks wouldn’t refinance a mortgage that was upside down. Banks wouldn’t accept a house as collateral if it were lower in value than the loan. “

no kidding Sherlock

#27 Shamus on 04.16.21 at 2:38 pm

@ #16 Cottagers STAY THE HELL AWAY!

Hey Chicken Little…the sky is NOT falling!

#28 Rook on 04.16.21 at 2:55 pm

I get that The Dauphin is royalty, and he rules by birthright, as is the natural order – just as God intended. And I understand that panem et circenses is how the rulers stay popular. And I understand that most Canadian voters are perfectly okay with being bribed with their own money.

But what I don’t understand is how ‘the most feminist PM ever’ has had, is it 3 high-powered women thrown under the bus? Wilson-Raybould, Jane Philpott, and Julie Payette. He’s essentially doubled the national deficit, if not more? He’s bungled the vaccine rollout by promising massive numbers, then, oopsie-daisie, we have problems with supply so our promised deliveries are getting cut. Don’t even get me started about how badly bungled the rest of the pandemic response was. Then we add no new pipelines. No real industry. Under his rule, Canada has become a country who’s only industry seems to be house flipping and money laundering (so the wealthy can buy houses). Adam Vaughan has essentially said the gov has no interest in ever letting house prices settle.

And THIS is the man who’s going to have a majority after this fall’s election?

Are Canadians that stunned?
Are we that gullible?
Are we that asleep we don’t care?
Are we just too fat and too taken care of we can’t be bothered?
Are we that ‘eat the rich’ that we’ll vote for anybody who promises to do it?
Are the other parties that weak they can’t come up with a decent candidate to run against an empty suit with a bungled pandemic response?

What happened to actual leadership? What happened to a Canada that was built on things harvested from the ocean, harvested from the land, or pulled out of the ground? Why do we make spreadsheets instead of stuff?

I don’t understand the world anymore, and I’m not even 40. I feel like I’m constantly being gas-lit and told to ignore the evidence of my own eyes and education. We can print money forever and it’s okay? Deficits don’t matter? The budget will balance itself?

What happened?

#29 crowdedelevatorfartz on 04.16.21 at 3:05 pm

I expect more of the same from the intellectually challenged leader and his Social warrior “finance” minister.

A bulldozer pushing stacks of money into the Socialism Furnace

It’ll be billions for social programs (bread and circuses) while Rome (Houses) burns………

#30 G on 04.16.21 at 3:08 pm

Might you know what time the B is on Monday? After market are closed? For throws that want to hear it live. Thanks.

#31 leebow on 04.16.21 at 3:09 pm

Three general ways how they may try to “solve” this if they decide to take action: increase supply, reduce demand, make status quo more acceptable to mills.

Specifics may differ within each pathway, but ultimately lead to failure. We are way too far from the equilibrium.

May be the genii will come up with something, but they avoided the topic at the convention, probably due to lack of substantive ideas. Doing nothing is not the worst choice actually.

A lot of people now think it’s different. Even some members of the chain gang here. Soon we’ll get to study about the good old way.

#32 Humbled ◇ Broke on 04.16.21 at 3:11 pm

Time to tax breathing. Were all in this together after all. A penny for every exhalation and a penny for every inhalation. Everybody has to breath, so it is the only fair way. Under 16 years it is free air, after that it is owned by the CRA

You will get a discount if your in the Big Smoke since your air is dirtier. Apologies to Sting “every breath you take, T2 will be watching you”.

#33 ElGatoNerodeYVR on 04.16.21 at 3:15 pm

#19 Chris on 04.16.21 at 2:17 pm
I’m a 29 year old guy. Paid off my student debt and only have a modest car loan on an economical vehicle. I make $65k a year and have $30k in savings 《》

What is a young, responsible guy making an average wage supposed to do in this economy? Invest my modest savings and pray?
=========
To put things in perspective for you , around your age I was minus 30K making a lot less ,even Inflation adjusted.
Forgetting rich GF, it will come with a prenup and expect to live the same lifestyle so good luck keeping up with that .
Yes ,keep investing and Adding to it , that is the key, save as a percentage of wages and try not to inflate your lifestyle.
Your currents savinfs are at the lower end of a decent emergency fund ,keep that in mind ; still quite impressive.
This is sharing from my experience …it works ,I am now pretty much financially independent, took a while but time works in your favor.
Ofcourse ,feel free to do some compound returns calculations and you will come up with your own plan . I never use more than 6.5% expected return in the planning.
Not financial advice ,you should consult a professional.

#34 Soviet Capitalist on 04.16.21 at 3:23 pm

In the ’80, ’90 and ’00 Canada had strong and competent leaders, some of them even sacrificed their careers to get the country on the right track. That is the reason we are doing so well today. However, today we have incompetent and weak leaders, squandering the wealth that has accumulated in the last few decades.

#35 Barb on 04.16.21 at 3:25 pm

Husband and I had the Pfizer jab this morning. Apart from a slightly metallic taste in my mouth half an hour later that lasted only 5 min, the jab was less than a bee sting.

#36 DON on 04.16.21 at 3:27 pm

#19 Chris on 04.16.21 at 2:17 pm
I’m a 29 year old guy. Paid off my student debt and only have a modest car loan on an economical vehicle. I make $65k a year and have $30k in savings – all in all, doing far better than most of the people that I know.

What the hell do I do right now? I can’t buy anywhere that isn’t Tuktoyaktuk and am stuck renting for the foreseeable future, that is unless I can find a rich girlfriend (not banking on it) or my parents win the lottery (slightly higher chance).

What is a young, responsible guy making an average wage supposed to do in this economy? Invest my modest savings and ….

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

Ah 29 …go have some fun. Don’t fret about a house.

You will be old soon…

#37 ElGatoNerodeYVR on 04.16.21 at 3:29 pm

#28 Rook on 04.16.21 at 2:55 pm
What happened?
===============
Extreme capitalism run amok,rise of the megacorporations followed by a extreme counterbalancing with an idealistic socialist overtone.
The outsourcing of the middle class which led to mostly low paying service jobs and the minimum wage “small family businesses ” becoming the majority employers ( nothing against most of them; just they should not be the majority of employers)
When everyone wants to take but noone wants to pay , this is what you get.
Now going to enjoy a sunny 23C here in the best place on earth ( the license plate says it so it must be true) , spend the ICBC refund and forget about all bad things in the world. Enjoy the gift of today .

#38 NSNG on 04.16.21 at 3:30 pm

Nothing makes central banks move faster on rates than when labor starts participating in price increases. Since they are always last in line for a raise, the CBs will always move before the circle is completed.

The reason why I’m saying that is because labor is starting to agitate. The port of Montreal is facing a strike that will hurt a lot of people if not resolved by the magic Mo Muny stick.

If others (like what nurses and teachers have been bellowing about) get the idea that it’s time to agitate for Mo Muny watch the BoC get religion and suddenly find a reason to raise rates.

They’ll claim it’s an economic thing but the real reason is the bankers hate labor and want them punished for being the last in line.

#39 crowdedelevatorfartz on 04.16.21 at 3:30 pm

@#32 Humbled and Broke
“Time to tax breathing. Were all in this together after all. A penny for every exhalation and a penny for every inhalation.”

++++

Never happen with our current PM.
He sucks and wheezes air like a drowning man.
He’d be broke in a week.

#40 Summertime on 04.16.21 at 3:35 pm

#19 Chris on 04.16.21 at 2:17 pm

What is a young, responsible guy making an average wage supposed to do in this economy? Invest my modest savings and pray?

——————————

Move out to US or Europe as fast as you can?

There is one life to live and no one will appreciate your sacrifice if you choose to stay.

The big white North is not worth it.

#41 Dolce Vita on 04.16.21 at 3:36 pm

No RE Gov intervention. Let it self correct. You described hyperinflation Garth today. Never in history has that ever lasted for long.

And I still hate RE. A nation of Gollum’s and their PRECIOUS.

————————

Within the last hour ON Medical in revolt about what is happening in hospital and ICUs there and MSM indulging them be it YouTube or Twitter.

The variants have legs Garth. Starting to have misgivings.

https://www.youtube.com/watch?v=-OYHabX4e6A
https://twitter.com/iamSas/status/1383133041892147205
https://www.youtube.com/watch?v=q5EHGfEw5kI

And Cdn MSM having a bird about EVERYTHING Covid.

EU has a hick-up in vax production, Canada out 650K doses but yet again, the EU finds a way to your rescue your sorry buttocks Canada:

“Moderna slashing vaccine deliveries to Canada, but Pfizer steps up with 8 million more doses”

https://www.cbc.ca/news/politics/moderna-delay-1.5990166

And is AMERICA THE BEAUTIFUL there to help out Canada?

‘It’s unconscionable’: The U.S. is sitting on milli ons of doses they don’t want, and Canada paid for [20M doses to be more precise, AstraZeneca]

CTV has a bird. Seems I’m not the only USA VAX HOG fanboy in Canada after all.

https://www.youtube.com/watch?v=8Ljzqme1ses

Shame them Canada, maybe they will cough some up for you.

————————-

– PREGO Canada. Baci dell’Unione Europea. XOXOXO

[And from the USA to Canada: Bacia il mio cullo]

#42 JP on 04.16.21 at 3:46 pm

DELETED

#43 Jake on 04.16.21 at 3:48 pm

Garth, you are not alone…

“It took me 89 years to experience something like this”.
Warren Buffett

https://www.marketwatch.com/story/warren-buffett-on-the-one-two-punch-market-panic-it-took-me-89-years-to-experience-something-like-this-2020-03-11

#44 Morrey on 04.16.21 at 3:55 pm

“Kelowna sees a real estate gold rush”

by whom?

“And then Mission Group launched on the block, and they sold out – and it’s just been a flood to the market, and now it’s really happening,”

“We have a lot of interest from very wealthy, millionaire type people that have just not been in our market before, and they see that huge opportunity,” Mr. McAnerney says.

“To put the past year in perspective, Nicola Wealth owns $5-billion in property assets in Canada and the United States and they’re on track to add another $1-billion in properties.”

So land developers, REITS, Land Assembly dudes etc are buying. Everywhere in Vancouver houses sell for 400K over asking.

To paraphrase another Turner:
What`s Interest Rates got to do, got to do with it
What`s Interest Rates but a sweet old fashioned notion
What`s Interest Rates got to do, got to do with it
Who needs a mortgage when a mortgage can be cashed out
$$$

#45 Comrade on 04.16.21 at 3:55 pm

We are expecting a budget, we will get an election platform instead.

#46 mark on 04.16.21 at 3:56 pm

I would suspect if they start raising interest rates to slow housing prices, that’s going to tank stock market also big time!.

#47 Shamus on 04.16.21 at 4:07 pm

@ #28 Rook

I live in London, ON…London-West. Our current member of Parliament, Kate Young (Liberal) has announced she will not be running in the next Federal Election. I can’t blame her.

Both my wife & I wrote separate emails last fall to Ms. Young, which we have never done, explaining how disappointed we were with Justin Trudeau being Canada’s Prime Minister. We never heard back. I don’t think we were the only ones to email her, and I feel she is leaving is because she knows exactly what many of her constituents feel and does not want to be part of it anymore.

The seat in London-West was previously held by Ed Holder (Conservative) who is now London’s Mayor.
A Conservative will win the London-West riding in the next election.

Despite what the Liberal polls & media are projecting, I think many Canadians do not want Justin Trudeau as our Prime Minister.

I have never voted Conservative, but I will be doing so in the next election.

NO TRUDEAU 2021

#48 Ponzius Pilatus on 04.16.21 at 4:10 pm

Sailo

Yep. JP knew what their results would be well ahead of the announcement, so prepared the bond issue to ride the wave with better rating/lower rate. Probably saved themselves a billion dollars. Savvy move. Good company to own.
——-
Sure, good to own.
If things go south, they will be bailed out.
Don’t you just love capitalism.

#49 TurnerNation on 04.16.21 at 4:13 pm

Life in Ontariowe. Again I expect a government-induced recession 2022-2024.

Local Journalist gets it? Kanada is done for:

.Columnist for the National Post: Queen’s Park, Toronto,
https://twitter.com/cselley
The idea of living here after this is over actually makes me laugh out loud. We’re done; Ontario.

.Colin D’Mello CTVNews @ColinDMello
Tremendous anger inside the Ontario PC caucus from some who vehemently oppose some of the new measures that will be announced today.
One MPP told their own government they have “lost the plot completely.”

………………………

—-Weekend fun read…it’s not what you think…read to the very end for the ‘punch’ line

“Diary Of An Trapped Partner
“My husband won’t let me visit my friends or family. He has made me stop all contact with them unless it’s on the phone… but then the other week, he told me I could go out for a meal with my friends… but when I did, I then got punished for it.

I know he will tell me to do it again though, so I don’t know what action to take.
He keeps doing this. He makes me feel like I’m going crazy for thinking he’s controlling, but actually, I’m being ungrateful, it’s because he cares about me.

He didn’t want me going to the gym anymore, so I don’t do that.
He also doesn’t let me go to work, he told me to only rely on him for income and that he will look after me.

I’m not allowed to go out, unless it’s for necessities, but when I do, I need to share my location with him, no matter where I go. It’s for my own safety.

My best friend kept saying he was just using and controlling me… I think they both conspired against me so I no longer keep in touch with them. I can’t trust them.

But I missed my family so much last week that I snuck off to see them… my husband caught me and I was punished for it.

My grandma is dying in a nursing home but I’ve been forbidden to see her. I’m not allowed to do anything unless my husband says so….

I wanted to book a holiday to go and visit my relatives, but he said no.
I wanted to go back to school to learn some new skills, but I wasn’t allowed to do that either.

As soon as he says I’m allowed to do these things, I can’t wait, I’m so excited.
I know the time will come soon, he will change.

I know he’s only doing this because he loves me. He cares about me, he really does. He is doing all this for my own….

Oh sorry, did I say husband?
I meant government, my government does these things …..”

#50 wallflower on 04.16.21 at 4:14 pm

#19 Chris on 04.16.21 at 2:17 pm

Don’t buy in Tuktoyaktuk. You cannot afford the food prices.

I have been boarding 20s and 30s age band males in my spare bedroom. They earn between $38K and $70K. They are pretty much hooped like you.
You have company.

What I cannot understand is why your entire cohort is not constantly in communication with your MPs and MPPs and our dear leaders about these things.
The lads I board play internet games in all their free time and don’t engage politically at all.
I figure disconnecting is one way of dealing with rage but … I am perplexed. I am also alarmed. For you.

#51 Damifino on 04.16.21 at 4:15 pm

My money is on “Nothing of Substance”.

#52 Mehling on 04.16.21 at 4:19 pm

“Are Canadians that stunned?
Are we that gullible?
Are we that asleep we don’t care?”

A wise, wealthy friend of mine told me recently “Canadians are suckers”. He’s right, we turn a blind eye.

As Garth mentioned, elections are a numbers game. Vote accordingly.

MacKay was the savior for the PC party. Too late now.

I feel sorry for the Gen Z / Mills who will carry / pay for this tax burden. Why would Canadians vote for any party that wants to increase taxes?

My plan is to donate a large sum / the majority of my estate to my favorite charities in BC before death, creating fulfillment.

A better outcome than 50% going to the government.

Thanks SA, for the informative tips btw. South Dakota land, etc. I very much enjoy your posts.

PS – going back to the Pennask Fishing and Game lodge and Stoney Lake / Douglas Lake Ranch for trout fishing this summer.

Life is good.

#53 Ponzius Pilatus on 04.16.21 at 4:22 pm

#29 crowdedelevatorfartz on 04.16.21 at 3:05 pm
I expect more of the same from the intellectually challenged leader and his Social warrior “finance” minister.

A bulldozer pushing stacks of money into the Socialism Furnace

It’ll be billions for social programs (bread and circuses) while Rome (Houses) burns………
———————-
Talking about Dozer:
Freeland sent her people to IHTCD9 to asked him if they could borrow his Dozer.
He chased them off with his rifle.
—————–
CEF
I heard you got your shot today.
Did you tell the nurse how much you appreciated all the government workers who made this all happen.?

#54 S.Bby on 04.16.21 at 4:24 pm

CBs and governments poured too much gas on the fire and now the blaze is out of control. This will burn out over time but it’s still got legs.

BTW: Random Length lumber closed at $1,168 US today up another 4.29% which is a record high and it’s still gonna go higher.

#55 Linda on 04.16.21 at 4:26 pm

#19 ‘Chris’ – for now, keep building your savings. If you have not opened a TFSA yet, pop those $ you saved in one asap. Keep in mind that the $ in your TFSA can be & should be invested in a balanced & diversified selection of low cost ETF funds or other growth type investments – read some of Garth’s blogs where the recommended mix is laid out. Don’t slap your $ into a HISA (high interest savings account) because you can do much, much better. Keep in mind any growth in your TFSA is also free from tax!!! Plus you can withdraw $ without penalty at any time you need to – just make sure you understand that $ taken out can’t be put back until the following year or the CRA will come calling. However, you said you’ve about $30K & the current maximum you can contribute to a TFSA is $75,500 so you are likely safe for a year or three:) Good luck!

#56 TheDood on 04.16.21 at 4:29 pm

#7 Billy Buoy on 04.16.21 at 1:31 pm
Rates need to be UP, rates should be UP but no one can answer the Trillion dollar question…

If and when Rates do go UP, what happens to all the leveraged debt and WHO is going to support those who gambled and loss????

With Gov’t debt levels at all time records and personal debt high WHO is going to support housing and feeding these people?

WHO? Please tell me? There is so much $$ from the tax tree and it’s not growing.

Again, I ask…who?

_______________________________________

Hard lessons need to be learned, so let them learn.

Certainly there is no one stupid enough to believe these people should be saved from their own stupidity??

#57 Flop... on 04.16.21 at 4:31 pm

I just got a call from a contractor to see if I was interested in starting a house on the Westside on Monday.

As he blurted out the address it sounded awfully familiar so I punched it into Google Maps and the connection was complete.

The property is one of my Pink Snow cases.

It sold for 5.5 million during the Westside detached peak of Spring 2016 and they took a sizeable loss especially after expenses when they dumped it in a descending market in summer 2018 for 4.9.

Now after the previous guys took a hit it wouldn’t surprise me if the new guys turn a profit or are actually just gonna live there, which is the new novel idea in this city.

I suspect the cycles of this headless monster we call the real estate market are getting shorter and shorter as the numbers get higher throughout the city this leaves a smaller pool to pull the strings from the top which is what happened from 2000 to 2016.

To the young guy on here asking what to do, play the long game, you have time.

Be invested at all times, not too conservative, not too cowboy, find your range.

Don’t obsess over real estate, but if it means that much to you, pay attention, things change quickly after a spike.

In a lot of East Vancouver, the types of places that were fetching 1.3/1.4 during the run up in 2016 could be had for less than a million a couple of years later and some even went for around 800k and not a word of this was in the media.

Speculation ceases pretty quickly when fingers start getting burned.

What is happening on the Eastside now is probably surpassing 2016 levels, it is not as electric on the Westside, but that doesn’t really affect the average guy.

Things were still pumping read hot in June 2016 and by October 2016 the market had seized up.

Always remember that.

Be ready, be liquid, but most of all be patient and pay attention…

M46BC

#58 50 YEARS OF MAPLE LEAF INCOMPETENCE! on 04.16.21 at 4:31 pm

Who cares what happens on B-Day!?

Toronthole is hurting!

The Make Believes are 0-3 and about to lose again!

Feel the pain of GTAHoles :)

Best news yet: 2021 is a fake NHL season, so it matters little who ‘wins’ the cup.

But lets hope the Make Believes spend a lot of time in close contact with the Canucks the next two games, Sunday and Monday. (You know, the Canucks, the team riddled with COVID-19! Woohoo!)

If the Loser Leafs can get infected enough with the virus, they could be forced to end their season!

Then pathetic fans won’t be so miserable. The murder rate and hit-and-run levels in Toronthole might actually drop!

Go Canucks! Go COVID!

#59 Stone on 04.16.21 at 4:38 pm

Another milestone day. My fantastic and curvaceous balanced and diversified portfolio hit 11.20% ytd. Why is that a milestone? Well, for 2020, I made 11.15%. So, in 3 and a half months of 2021, I made more than all of 2020. That means I made 22.35% over the last 15 and a half months. Wowzers! What is the rest of 2021 going to look like?

#60 The West on 04.16.21 at 4:42 pm

#19 Chris

We’re in very similar situations…

I know these bog dogs are all about “invest” lol think I read one entry (it wasn’t Garth’s) “Get Rich Slowly”

As I have said here many times – there is a huge generational gap. Our parents and grandparents think that our money has semblance of “purchasing power” in the current economy – it doesn’t.

And what makes the situation more unbearable is that to save money at all is to make sacrifice on how we live. And we hear it over and over from the elders and even on here, just keep saving, keep saving, put that money away….

We are sacrificing for nothing. There is really nothing more to get out of it. In the end there will be no pensions for us, assets are unaffordable and the bureaucracy is now left to choose who is going to “take the pain”. The retirees have a much larger voting block and the rich contribute to campaigns and buy themselves favor (in all parties, not just the PCs).

We were born into the wrong time. You have one of two options – continue to live below your means and invest in the hopes that your gains over the long term out pace inflation or, take on a mountain of debt and hope you can pull yourself out of it fast enough to start saving for “retirement”.

Socially, we have been moved into the old world. Where we end up in life is nearly entirely dependent on the circumstances we were born into.

#61 Midnights on 04.16.21 at 4:42 pm

DELETED (Anti-vax)

#62 TheDood on 04.16.21 at 4:46 pm

#19 Chris on 04.16.21 at 2:17 pm
I’m a 29 year old guy. Paid off my student debt and only have a modest car loan on an economical vehicle. I make $65k a year and have $30k in savings – all in all, doing far better than most of the people that I know.

What the hell do I do right now? I can’t buy anywhere that isn’t Tuktoyaktuk and am stuck renting for the foreseeable future, that is unless I can find a rich girlfriend (not banking on it) or my parents win the lottery (slightly higher chance).

What is a young, responsible guy making an average wage supposed to do in this economy? Invest my modest savings and pray?
__________________________________

Invest of course. And don’t hand-cuff yourself to Canada. The world is a big place. Lots of opportunities world wide. COVID will pass soon enough.

#63 Faron on 04.16.21 at 4:50 pm

#124 Sail Away on 04.16.21 at 2:37 pm

#123 Faron on 04.16.21 at 2:15 pm
#122 Phylis on 04.16.21 at 1:05 pm
#118 Mike in Edm on 04.16.21 at 11:23 am

Yep. JP knew what their results would be well ahead of the announcement, so prepared the bond issue to ride the wave with better rating/lower rate. Probably saved themselves a billion dollars. Savvy move. Good company to own.

Lets see how many of those billions go to share buybacks following on Bank of America’s recent repurchase plan. The dividends JPM wouldn’t have to pay out on repurchased shares would probably offset the coupon on the bonds thus making the money “free” and as rates go up, the bonds pay for themselves essentially, more so if inflation ever happens. Uppa uppa

#64 Make more money on 04.16.21 at 4:51 pm

#19 Chris

In addition to other advice given, consider retooling and getting into a company paying larger dollars, or with equity options. Young blood can earn upwards of $100k in IT, for example.

Play around on https://www.imfingo.com to see what it takes to get ahead and retire early.

#65 paulo on 04.16.21 at 5:03 pm

#2
Realatards and monopoly marketing cartels are detrimental to consumers and the country at large.
The sooner they are heavily regulated and have there ridiculous marketing scams curtailed the better.
blind bids /fraudulent auctions and put listings should be banned

#66 Faron on 04.16.21 at 5:06 pm

#48 Ponzius Pilatus on 04.16.21 at 4:10 pm

Sailo

Yep. JP knew what their results would be well ahead of the announcement, so prepared the bond issue to ride the wave with better rating/lower rate. Probably saved themselves a billion dollars. Savvy move. Good company to own.

——-

Sure, good to own.
If things go south, they will be bailed out.
Don’t you just love capitalism.

During the GFC, bailed out just meant the share price didn’t go to $0. JPM took a 70+% haircut while the S&P’s was a mere 57% (!). The bail out is good to know of on the upswing. JPM is up 10 fold over its GFC low.

On that 57% S&P number, consider that the drops in 2018 resulted in a net loss of about 5% on the S&P that year. COVID saw a 17% gain! Back to 30% annualized thus far this year. We still haven’t experienced a real market crash nor a real recession since the GFC, now 12 years past. Just uppa with a small clearance sale.

#67 crowdedelevatorfartz on 04.16.21 at 5:10 pm

@# 53 Perpetual Public Promoter
“CEF
I heard you got your shot today.
Did you tell the nurse how much you appreciated all the government workers who made this all happen.?”

++++

I hate to crush your fantasy Ponze.
Privately owned Pharmacy.
Walked in 15 minutes early. Pharmacist said, “Great you’re early. Fill out this form while I get your shot.”

I was in and out in less than 5 minutes. Didnt even notice the needle the guage is so narrow.
Pharmacist also commented that he didnt know when the second shot would arrive as the vaxx deliveries ,” were sporadic and all over the map”.

So thank you private sector for being quick, efficient and good natured …..unlike our surly, slow and inefficient public sector.

P.S. I drove throuigh Floppies stomping grounds on the way back to work.
The Fraser View cemetery was looking quite nice in the Spring sunshine….

#68 Ponzius Pilatus on 04.16.21 at 5:11 pm

Budgets are like New Years resolutions.
After 10 days, it’s back to same-old, same-old.

#69 Brian Ripley on 04.16.21 at 5:15 pm

My chart with March data of the REAL PRICE OF TSX Real Estate & Gold Indexes, ie: Nominal Prices divided by Bank of Canada $CAD Commodity Index… is up:
http://www.chpc.biz/real-price-of-gold–re.html

The CAD$ Commodities Index remained above the well defined downtrend channel and continued the rebound rally along with Crude Oil after the bounce off the April 2020 Covid 19 low.

For seven years, from April 2013 to March 2020, TSX Gold under performed TSX Real Estate but in April 2020 that metric switched with the Covid 19 crash in the commodity plot. That has now flipped again and the TSX Real Estate Index is again on the ascendant.

#70 Sail Away on 04.16.21 at 5:18 pm

NASA picks SpaceX to build new lunar lander. Another win for our hero!

https://www.wsj.com/articles/nasa-picks-spacex-to-build-new-lunar-lander-11618604869?mod=hp_featst_pos4

#71 Trojan House on 04.16.21 at 5:18 pm

I hate to say it but TurnerNation is the only one that has been bang on with his predictions, lol!

Huge restrictions in Ontario now with police being able to stop anyone arbitrarily.

#72 BK on 04.16.21 at 5:27 pm

#40 Summertime How does one moved to the US?????

#73 Terry on 04.16.21 at 5:39 pm

DELETED (Anti-vax)

#74 Wrk.dover on 04.16.21 at 5:41 pm

#54 S.Bby on 04.16.21 at 4:24 pm
CBs and governments poured too much gas on the fire and now the blaze is out of control. This will burn out over time but it’s still got legs.

BTW: Random Length lumber closed at $1,168 US today up another 4.29% which is a record high and it’s still gonna go higher.

———————————————————–

I stumble to my fully manual bandsaw mill after breakfast, and I stagger my way back to the house late for supper. I hurt from my neck to my finger tips. Making hay while the sun shines….

Too old for this, but all of the red spruce in the back forty is dying a quick death from climate change.

M67NS

#75 PC LOAD LETTER on 04.16.21 at 5:41 pm

#19 Chris
You’re doing just fine. Stay the course and keep investing in a B&D portfolio. Do not be tempted by FOMO as this will end in disaster for many.

If you do feel compelled to own real estate, be patient. There will be a correction.

And a pox on our federal government for allowing (facilitating?) this upcoming nuclear meltdown.

#76 DM in C on 04.16.21 at 5:49 pm

Stop having the taxpayer backstop the banks.

CMHC is responsible for this — Put caps on loan guarantees and insurance and weight by region and family income. Moral hazard gone.

#77 Stone on 04.16.21 at 5:51 pm

Just listened to the new lockdown and border closures effective Monday in Ontario. I know a lot of people complain about Trudeau on here but wow, Doug Ford and his posse take the cake. I have never seen a bigger bunch of idiots in politics. Open up. Close. Open up. Close. Open up. Close. My friends! My friends! Hey Douggie, do you know what doing the same thing over and over again and expecting different results is equal to? Insanity. But hey, stay at home everyone. No households to mingle. But hey, wanna go to church, a wedding or a funeral, by all means that’s ok. Don’t mingle outside your household but going to church is a-ok. I predict the Ontario Conservatives will be sacked. Hey Dougie, we’re not your friends. I don’t even consider you an acquaintance.

#78 Don Guillermo on 04.16.21 at 5:52 pm

#48 Ponzius Pilatus on 04.16.21 at 4:10 pm

Sure, good to own.
If things go south, they will be bailed out.
Don’t you just love capitalism.
****************************************
Don’t you just love capitalism.

https://www.travelweekly.com/Travel-News/Airline-News/Air-Canada-airline-bailout-refunds

#79 Prince Polo on 04.16.21 at 5:55 pm

The feds should absolutely let it roar. Let us be the shining beacon of $100M avg house price that the entire planet can be jealous of. Let’s not forget to add 500yr amortizations to make it entirely affordable. Thanks everyone!

#80 Jean-Jacques-Beaujacques-des-Laurentides on 04.16.21 at 6:00 pm

#16 Cottagers STAY THE HELL AWAY! on 04.16.21 at 2:04 pm
JUST STOP IT, ALL YOU SELFISH PSYCOPATHS FROM THE GTA!!

STAY AWAY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

——————————————

Même chose pour tout cette hosti de gang de ploucs d’Ontario que viennent faire leur relache printemps par icitte … pourquoi en calice êtes-vous dans les Laurentides … prends le premier pont à Hawksbury et et apporte tes variantes COVID avec toi en hosti. Reviens et dépense ton argent quand t’es propre! Salut et merci la visite mon crisse.

“Ploucs?” Qu’est-ce que c’est? – Garth

#81 Doug t on 04.16.21 at 6:01 pm

#2 realtor

1st do not attempt to compare realtors to REAL Frontline workers

2nd hahahahahahahahahahahahahahahahahahahahahahahahahahahahaahahahahahahahahahahahahahahwhwhahaahahahahahahaha

#82 Doug t on 04.16.21 at 6:03 pm

Raise 5 year mortgage to 6%

#83 Sail Away on 04.16.21 at 6:09 pm

#59 Stone on 04.16.21 at 4:38 pm

Another milestone day. My fantastic and curvaceous balanced and diversified portfolio hit 11.20% ytd.

———-

Sigh. Must this continue?

Your portfolio, as you shared here, actually has a total YTD return of 8%. Yes, I track it.

Get off the telephone wire. And put your pants out.

#84 Flop... on 04.16.21 at 6:12 pm

#67 crowdedelevatorfartz on 04.16.21 at 5:10 pm
P.S. I drove throuigh Floppies stomping grounds on the way back to work.
The Fraser View cemetery was looking quite nice in the Spring sunshine….
//////////////////////////////////

Hey Crowdie, is that what was going on, I thought the smell emanating throughout the hood was just the afterglow of yesterday’s rubbish run.

The cemetery is called Mountian View, for what it’s worth.

Unobstructed views of the mountains for those seeking solace or remembering the deceased.

Garth’s Great Grandfather Ebenezer Bodwell has got a great spot.

He’s definitely got the view suite…

M46BC

#85 Concered Citizen on 04.16.21 at 6:12 pm

Spoiler: They’ll do absolutely nothing of any substance.

Asset prices are hyper-inflating left and right. It’s official policy to create a two-tier society, in effect if not in intent. Why on Earth would they stop now? They’re getting exactly the results they wanted.

For young people – if your job can be done remote, there are some parts of the country that are still somewhat affordable (not on a local wage, mind you). Barring that, the best option for many will be to emigrate. Why buy a rundown home in Nowheresville, Canada when for the same money you can buy twice or three times the house in Somewheresville, USA? Plus you’ll probably make more money and won’t be on the hook for all the borrowed hundreds of billions that the government and Bank of Canada have used to royally screw you over.

In future years I very much expect we’ll be hearing lots of media reports about young Canadians moving abroad. I know once this pandemic ends, I’ll likely be among them. That is, unless I see some sanity return (so, no chance). Actions have consequences. If you purposefully blow asset bubbles that screw over an entire generation, don’t be surprised if that generation doesn’t play along.

#86 Sail Away on 04.16.21 at 6:17 pm

#74 Wrk.dover on 04.16.21 at 5:41 pm

I stumble to my fully manual bandsaw mill after breakfast, and I stagger my way back to the house late for supper. I hurt from my neck to my finger tips. Making hay while the sun shines….

Too old for this, but all of the red spruce in the back forty is dying a quick death from climate change.

———-

Haha. It’s good for your soul.

Reminds me of the old saying that firewood heats you three times: when you cut it, when you split it, when you burn it.

Nobody mentions the first two heatings are punishment.

#87 Left GTA on 04.16.21 at 6:20 pm

A house down the street went up for sale on the 8th, sold on the 10th for $100,000 over asking. Sold sign was posted. Woke up this morning walked by with the dog. Sold sign is gone. Checked mls… house is re listed?? Financing issues??

#88 the Jaguar on 04.16.21 at 6:20 pm

Thank goodness friday evening has arrived to save me from complete collapse. I feel like Alec Guinness stumbling out of the ‘Hot Box’ in Bridge on the River Kwai.

Catching up I see that #115 Dharma Bum (04.16.21 at 11:12 am) is roaming the local landscape of southern Alberta.
Clear blue skies, + 17 degrees, what’s not to like? Just be careful all that clean mountain air doesn’t scorch your smoggy Toronto lungs. You’ve just gone from 76 to 1309 meters above sea level. If the room starts to spin just hang on to one of those bull elks or deer bucks.

#89 Sail Away on 04.16.21 at 6:21 pm

#77 Stone on 04.16.21 at 5:51 pm

Just listened to the new lockdown and border closures effective Monday in Ontario. I know a lot of people complain about Trudeau on here but wow, Doug Ford and his posse take the cake. I have never seen a bigger bunch of idiots in politics. Open up. Close. Open up. Close. Open up. Close. My friends! My friends! Hey Douggie, do you know what doing the same thing over and over again and expecting different results is equal to? Insanity. But hey, stay at home everyone. No households to mingle. But hey, wanna go to church, a wedding or a funeral, by all means that’s ok. Don’t mingle outside your household but going to church is a-ok. I predict the Ontario Conservatives will be sacked. Hey Dougie, we’re not your friends. I don’t even consider you an acquaintance.

——–

Just go to church and quit whining, you wuss.

#90 Foghorn Leghorn on 04.16.21 at 6:37 pm

wanna bet despite the latest stay home order real estate agents will get a free pass to bring themselves and their clients in and out of buildings freely, no questions asked, almost business as usual save the theater mask?

#91 Steven Rowlandson on 04.16.21 at 6:42 pm

Puberty economics does not work! Canada’s governments proved that. That is why we still have a national debt.

#92 Faron on 04.16.21 at 6:45 pm

#71 Trojan House on 04.16.21 at 5:18 pm

I hate to say it but TurnerNation is the only one that has been bang on with his predictions, lol!

Huge restrictions in Ontario now with police being able to stop anyone arbitrarily.

Jeez, I wonder if it has anything to do with people landing in hospital with COVID faster than ever? Field hospitals are being built.

I’m sure TurnerNation drums up a conspiracy theory whenever he burns his toast. “Why does this toasty knob go to ‘dark’ causing my toast to turn black? Bill Gates must be behind this knob calibration cabal.”

#93 JOSEPH BACIC on 04.16.21 at 6:55 pm

To paraphrase another commentator, “If I were one of the Canadians that have been waiting for a price correction to take place in the real estate market for the last ten years, I would be in a fetal position right now.” Diversified portfolios are NO match for the Canadian real estate market!

#94 Bob Dog on 04.16.21 at 6:56 pm

I’m enjoying the west coast summer weather. Out at the patio on false creek last night. No longer looking for a job until housing crisis is addressed. Looks like I have another 6 month of EI to enjoy. Just enough to cover my expenses.

Looks like things are getting serious in Ontario. Stevie Harper is guilty of serious crimes against the country.

got my 5G chip installed yesterday. Covid-shield for me.

#95 IthoughtWeWereSmarter on 04.16.21 at 6:57 pm

#5 It’s weird that Trudeau gets so much of his support from the young considering his policy regarding national debt and asset bubbles is basically “eat the young.”

Well said Adam Smith!! I bow to you!

#96 FriedEggs on 04.16.21 at 6:59 pm

The road map and aim was set out by the PMO and is as follows (GArths Oct 15/21) – ALL FAKE NEWS:
– Phase in secondary lock down restrictions on a rolling basis, starting with major metropolitan areas first and expanding outward. Expected by November 2020. (Y)
– Enhanced lock down restrictions (referred to as Third Lock Down) will be implemented. Full travel restrictions will be imposed (including inter-province and inter-city). Expected Q2 2021.
– Transitioning of individuals into the universal basic income program. Expected mid Q2 2021.

.
.
.
– Deployment of military personnel into major metropolitan areas as well as all major roadways to establish travel checkpoints. Restrict travel and movement. Provide logistical support to the area. Expected by Q3 2021.

https://www.theglobeandmail.com/canada/article-ontario-modelling-warns-of-more-than-15000-daily-cases-overwhelmed/

‘Ontario to set up border checkpoints, beef up police powers to stop spread of COVID-19’

#97 Sara on 04.16.21 at 7:15 pm

#85 Concered Citizen on 04.16.21 at 6:12 pm

“For young people – if your job can be done remote, there are some parts of the country that are still somewhat affordable (not on a local wage, mind you).”

I know a young couple here in Ottawa who both work for the federal government. Both originate from “the Soo” and asked their generous employer if they could move back to the Soo and work remotely, permanently. They received an affirmative reply (moving in a couple weeks) and are now looking to buy a house – cheaper in the Soo, although real estate there is also booming.

#98 Rook on 04.16.21 at 7:17 pm

#85 Concered Citizen on 04.16.21 at 6:12 pm

Why buy a rundown home in Nowheresville, Canada when for the same money you can buy twice or three times the house in Somewheresville, USA?

——————————————

Because I won’t be ducking incoming fire and and having to put out arson started by lunatic left-wing ‘peaceful protesters’ in nowheresville Canada like I would be in somewheresville USA?

#99 Greaterfool on 04.16.21 at 7:28 pm

Nothing will happen in B-day for RE. BETTER NOT TO BE.
Not expect anything meaningful, reasonable, sane from these Canadian politicians. They just print money blindly without any plan, keep saying inflation is low while everything is much more expensive, not doing anything effective to control the virus, no mandatory quarantines, now control at airport, no enough vaccines …

can we trade houses for vaccines?

#100 Sail Away on 04.16.21 at 7:28 pm

To Dharma- be careful about coming too far west. The further you go, the harder it is to return to where you started. It’s a known fact.

Also, any chance those animals were what we western hunters call ‘slow elk’? Also referred to as Holsteins, Herefords, Angus…

#101 Stone on 04.16.21 at 7:31 pm

#80 Jean-Jacques-Beaujacques-des-Laurentides on 04.16.21 at 6:00 pm
#16 Cottagers STAY THE HELL AWAY! on 04.16.21 at 2:04 pm
JUST STOP IT, ALL YOU SELFISH PSYCOPATHS FROM THE GTA!!

STAY AWAY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

——————————————

Même chose pour tout cette hosti de gang de ploucs d’Ontario que viennent faire leur relache printemps par icitte … pourquoi en calice êtes-vous dans les Laurentides … prends le premier pont à Hawksbury et et apporte tes variantes COVID avec toi en hosti. Reviens et dépense ton argent quand t’es propre! Salut et merci la visite mon crisse.

“Ploucs?” Qu’est-ce que c’est? – Garth

———

Personne qui a des manières grossières. Comme ceux qui utilise le mot hosti sans arrêt.

#102 Stone on 04.16.21 at 7:38 pm

#89 Sail Away on 04.16.21 at 6:21 pm
#77 Stone on 04.16.21 at 5:51 pm

Just listened to the new lockdown and border closures effective Monday in Ontario. I know a lot of people complain about Trudeau on here but wow, Doug Ford and his posse take the cake. I have never seen a bigger bunch of idiots in politics. Open up. Close. Open up. Close. Open up. Close. My friends! My friends! Hey Douggie, do you know what doing the same thing over and over again and expecting different results is equal to? Insanity. But hey, stay at home everyone. No households to mingle. But hey, wanna go to church, a wedding or a funeral, by all means that’s ok. Don’t mingle outside your household but going to church is a-ok. I predict the Ontario Conservatives will be sacked. Hey Dougie, we’re not your friends. I don’t even consider you an acquaintance.

——–

Just go to church and quit whining, you wuss.

———

Why? I don’t believe in false gods. And I’m not interested in the clucking gossips who attend.

#103 Garth's Son Drake on 04.16.21 at 7:43 pm

Something seriously wrong when a basic need like housing is under seize. Equivalent to food prices being jacked. Everyone needs food. Housing is a big problem for everyone.

The BoC isn’t going to be basing policy on Canadian housing.

They know how to fix the problem. They won’t. And, nothing wrong with letting a free market rip. Stay tuned.

#104 Faron on 04.16.21 at 7:44 pm

#86 Sail Away on 04.16.21 at 6:17 pm

#74 Wrk.dover on 04.16.21 at 5:41 pm

I stumble to my fully manual bandsaw mill after breakfast, and I stagger my way back to the house late for supper. I hurt from my neck to my finger tips. Making hay while the sun shines….

Too old for this, but all of the red spruce in the back forty is dying a quick death from climate change.

———-

Nobody mentions the first two heatings are punishment.

Splitting firewood is meditation.

#105 Lead Paint on 04.16.21 at 7:50 pm

#3 Zhorgon on 04.16.21 at 1:22 pm

That was awesome, got me day dreaming. Some good local wine too!

#106 gary on 04.16.21 at 7:55 pm

DELETED

#107 espressobob on 04.16.21 at 7:58 pm

Something to consider regarding this pandemic,

https://www.history.com/news/spanish-flu-second-wave-resurgence

It’s what one is unaware of that can turn out to be a real bitch.

#108 Galt on 04.16.21 at 8:00 pm

For young professionals who have had enough of the bank of Canada and CMHC turning your country into a casino, The NAFTA-TN 1 visa is your ticket out of. Show your displeasure by voting with your feet. Trump is gone and America is back. Canada no longer pretends to be a legitimate country. It is a commodity to be traded for profit on a globalized market.

https://www.uscis.gov/working-in-the-united-states/temporary-workers/tn-nafta-professionals

#109 mike from mtl on 04.16.21 at 8:01 pm

#80 Jean-Jacques-Beaujacques-des-Laurentides on 04.16.21 at 6:00 pm
/////////////////////////////////////////////////////////

Franchement mon homme, des têtes carrés ont doit reviser que lés est vraiment en tabarnak du virus maintenant. Une an de cette mardes nous avons au minimum du stabilité et degré immunité.. au naturel à haute coût.

C’est leur tour, pis pas gueuler à nous, bonne chance.

#110 25 reasons for me not to vax yet on 04.16.21 at 8:05 pm

DELETED (Anti-vax)

#111 fishman on 04.16.21 at 8:09 pm

DELETED

#112 Sail Away on 04.16.21 at 8:11 pm

#102 Stone on 04.16.21 at 7:38 pm
#89 Sail Away on 04.16.21 at 6:21 pm
#77 Stone on 04.16.21 at 5:51 pm

———–

Just go to church and quit whining, you wuss.

———–

Why? I don’t believe in false gods. And I’m not interested in the clucking gossips who attend.

———–

Then just quit whining.

#113 Out Of Work CEO, Will Travel on 04.16.21 at 8:19 pm

TD sees the future mortgage business with the hope the Bank of Canada sees the same numbers and hikes the borrowing rate at least above zero. TD is not being unreasonable in prodding the Bank of Canada to show up with solvency as the main event.

#114 leebow on 04.16.21 at 8:21 pm

#77 Stone

There is no way to go through the pandemic without having some people disagree with strategy and implementation. Ford bears the burden of getting the province through this. And many people find that he is doing a great job. When he was elected I personally thought he is a total buffoon, but I was wrong. He will get my vote if he decides to run again.

If we had the manufacturing capacity, we’d be done by now. Hopefully Canada learns something from this.

#115 espressobob on 04.16.21 at 8:23 pm

#111 fisherman

The mention of kkk is offensive and an epithet that at best be flushed down the toilet. Grow up!

Surprised Garth missed it.

#116 Doomerberg is pumped! on 04.16.21 at 8:29 pm

Financial Post: David Rosenberg: I haven’t been this excited about going against the herd in years
https://financialpost.com/investing/david-rosenberg-i-havent-been-this-excited-about-going-against-the-herd-in-years

#117 VladTor on 04.16.21 at 8:41 pm

Grth….Some bankers (RBC, BMO) are literally begging for a govy intervention to save people from themselves.

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

Dear Mr. Garth. You have good sense of humor (like me!). I was laughing reading this.
Why bankers need gov. in this case? Gov. need to tell PRIVATE banks – Do not borrow money! Why? – they are PRIVATE banks. Are they crazy asking this? Why, for instance banks don’t provide they own stress test in addition to government test with more stricter rules, which can do impossible to borrow money with 150% of income? Not government give mortgage – PRIVATE banks! I’m thinking this is DIRTY game from banksters – when happens crash (soon) – they blame on gov. , not themselves and ask again gov to safe them using taxpayers money. I don’t see now which political party will be smart enough to stop this DIRTY banksters game.

**********
Garth … The feds do nothing of substance. The market roars.

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

My forecast is this option. Before election – only cosmetic action in RE. I’m thinking for all parties better t allow to win party of Mr. socks . They will be responsible for crash (they put too match efforts to create crash) and after will disappear from political horizon forever.

#118 Faron on 04.16.21 at 8:55 pm

#111 fishman on 04.16.21 at 8:09 pm

Has to have been one of the dumbest comments I’ve read here, and that’s saying something. Surprised it didn’t get deleted.

Ozone is dead normal right now:

https://ozonewatch.gsfc.nasa.gov/NH.html

Your torch joke was obscene at best. WTF is wrong with you?

#119 crowdedelevatorfartz on 04.16.21 at 9:06 pm

Gee.
The third wave of covid infections and all the Premiers are in the media…..

While Trudeau puts the final touches on the budget.
A budget that he couldn’t be bother with last year….

#120 crowdedelevatorfartz on 04.16.21 at 9:12 pm

@#118 Faron
“Has to have been one of the dumbest comments I’ve read here, and that’s saying something. ”

++++

I’ve said dumber.
Although I must admit I put down fishmans indecipherably incoherent statement to sunny weather, Friday afternoon, and alcohol.

#121 Faron on 04.16.21 at 9:26 pm

#120 crowdedelevatorfartz on 04.16.21 at 9:12 pm

@#118 Faron
“Has to have been one of the dumbest comments I’ve read here, and that’s saying something. ”

++++

I’ve said dumber.

If The Jaguar didn’t swoon over them, it didn’t happen.

Anyhow, glorious day in our neck of the woods. Time for me to get out from behind the desk and scrape some mould off the bung(alow).

#122 Another Real Estate Insult on 04.16.21 at 9:37 pm

Quebec realtors self-regulating association (OACIQ) put out a press release today in response to growing recent complaints about realtor practices, stating they will implement measures to cool down the market: 1) realtors will receive a reminder about their code of ethics 2) secret shoppers (other realtors) will be sent out to visit listings posing as buyers to ensure their colleagues are being professional and 3) an ad campaign to remind buyers not to forego conditions like inspections. A complete joke.

#123 Steven Nicolle on 04.16.21 at 9:45 pm

I think they should calculate inflation from month to month and not year to year. If they did interest rates would be going up already. The inflation rate is misleading. The BOC regardless should start raising the interest rates pronto.if people are stupid enough to put themselves in a vulnerable position financially, so be it.

#124 Stone on 04.16.21 at 9:47 pm

#114 leebow on 04.16.21 at 8:21 pm
#77 Stone

There is no way to go through the pandemic without having some people disagree with strategy and implementation. Ford bears the burden of getting the province through this. And many people find that he is doing a great job. When he was elected I personally thought he is a total buffoon, but I was wrong. He will get my vote if he decides to run again.

If we had the manufacturing capacity, we’d be done by now. Hopefully Canada learns something from this.

———

I agree with you that many think he’s done a good job. It’s just they’re not very bright unfortunately. All you need to do is compare Dougie to Jacinda Ardern. That’s someone who can get shit done. Once you do that, anyone with a few brain cells realizes that Dougie is a spineless, brainless hack who can only read a teleprompter and poorly at that. Look at the Atlantic provinces. Even they have better control. Actually, Ontario is the worst province in the country when it comes to handling this. Absolutely shameful. Best part is, Dougie knows it.

#125 Nonplused on 04.16.21 at 10:01 pm

No worries, the carbon tax is going up and soon will be significant enough that nobody can afford the utilities so they will stop spending so much on houses and move to the US.

Remember, carbon taxes are like the GST, a “tax on everything”. Everything from heating, keeping the lights on, driving, groceries, and even water and sewer are about to get a lot more expensive.

That’s the beauty of the carbon tax. It raises taxes on everything and everyone, and they can tell you it is for your own good. No need to charge a capital gains tax on primary residences when you are sticking the home owner with a 100% tax on his utilities for as long as he lives.

And therein lies the beauty of it. “They” know darn well we aren’t going “carbon neutral” by 2030 or 2050 or whenever, so they will be collecting huge new taxes the whole way. But it will be your own fault because you didn’t turn the heat all the way off and stop eating and showering. But I mean, why on earth should the “unwashed masses” be showering anyway? The elites don’t rub shoulders with them anyway so it doesn’t matter if they smell like an orangutan.

———————————–

Case in point: water flow restrictors. If you are filling up your sink to wash dishes all the flow restrictor does is make you wait longer for the water. Nobody uses any less water. Same with the tub. It needs to be full enough to get wet, so you wait. The shower maybe saves some water but you have to stand there a lot longer to get the shampoo out of your hair. I drilled mine out. I probably shouldn’t admit that because there is probably a law against modifying a shower head.

#126 DON on 04.16.21 at 10:11 pm

#74 Wrk.dover on 04.16.21 at 5:41 pm

#54 S.Bby on 04.16.21 at 4:24 pm
CBs and governments poured too much gas on the fire and now the blaze is out of control. This will burn out over time but it’s still got legs.

BTW: Random Length lumber closed at $1,168 US today up another 4.29% which is a record high and it’s still gonna go higher.

———————————————————–

I stumble to my fully manual bandsaw mill after breakfast, and I stagger my way back to the house late for supper. I hurt from my neck to my finger tips. Making hay while the sun shines….

Too old for this, but all of the red spruce in the back forty is dying a quick death from climate change.

M67NS

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

I get that…body sore but you can see the fruits of your labour by the minute and the sweet smell of cedar and fir sawdust in the morning when you start up the mill means productivity. How big is that red spruce? I ve only cut into a blue spruce a couple of times… intoxicating pitchy smell…whitish clear wood.

Work safe stay safe.

#127 Moses71 on 04.16.21 at 10:40 pm

Hundreds of cheap real estate in Calgary by national standards. When people snatch the world’s best value city with detached at $500k, then I’ll believe people are truly frustrated at buying affordable dirt in a city.
No bugs here either. Owen Sound a hot commodity with face nets being sold at corner stores?
Give your heads a shake people

#128 leebow on 04.16.21 at 10:41 pm

#124 Stone

Do you think Jacinda would do a better job than Ford if she were the premier of Ontario, despite the differences in size and location?

#129 Phylis on 04.16.21 at 10:46 pm

#87 Left GTA on 04.16.21 at 6:20 pm
A house down the street went up for sale on the 8th, sold on the 10th for $100,000 over asking. Sold sign was posted. Woke up this morning walked by with the dog. Sold sign is gone. Checked mls… house is re listed?? Financing issues??
Xxxxxxxxx
They needed the sign for the house around the block.

#130 Saint Herb on 04.16.21 at 10:56 pm

Finally the truth about real estate agents and how they sell.

https://www.instagram.com/reel/CNYYAKDjZ2g/?igshid=142n06wztqxbt

I found it funny; hope you do too.

#131 Alberta Ed on 04.16.21 at 11:05 pm

Crusty and Justin will do follow the polls and do whatever is best the Liberal Party (after family and friends, of course).

#132 Mick McClean on 04.16.21 at 11:10 pm

Received the Pfizer shot today at a city-run mass vaccination site in a former Sears in Scarborough. Very friendly staff and so professional I actually exited the site at my appointment time, and no, the shot doesn’t come close to a bee sting. Very much like a flu shot, even the “I’ve had too many coffees” feeling I get after a flu shot.

#133 mark on 04.16.21 at 11:10 pm

It really is a disgusting outcome and those who have allowed it to fester should hang their heads in shame.

These people have accepted the responsibility of leadership and at every turn they shrug their shoulders. Again, do nothing leaders are sowing the seeds of another ugly societal and political movement.

#134 fishman on 04.16.21 at 11:44 pm

This is the worst time of year through May to get burnt. If your up in the mountains or on the water. Cover up like the KKK was just a warning for the keyboard warriors planning a weekend outside. OK, cover up like Japanese tourists. Is that ok. You’ll get your face burnt off this time off year. There’s always a ozone hole or depletion over us this time of year.

#135 Unhinged Trader on 04.16.21 at 11:56 pm

Re: Closures

Have the government considered warning the public about the risks of being obese and having poor metabolic health considering over 80% of hospitalizations and ICU stays are classified as Obese/overweight/insulin resistant? Have they put warning labels on junk food and taxed it to fund subsidizing healthy food and the Healthcare system, like we do for cigarettes? Have they subsidized home exercise equipment and been educating the nation on healthy lifestyle tips?

I walk past the TV occasionally and see snippets of evening news fear pieces and I still see Dairy Queen combo meal and the newest Oreo flavor of the month commercials. They haven’t addressed the real problem EVEN ONCE that we know makes COVID more dangerous. Our overall health has failed, obesity is the real “pandemic”. COVID is rocket fuel being sprayed on the dumpster fire. I can see why, half of our health ministers and politicians look very “at risk” themselves, can’t imagine they care about real health.

We need to all get healthy for each other, put down the Doritos and Coca-Cola.

Politicians should be held criminally responsible for their negligence in not addressing this issue. How many lives could have been saved this year if we had started a war on obesity from the beginning.

Here’s some light reading since we all like to say “follow the science”.

https://www.nature.com/articles/s41598-021-86747-5

https://pubmed.ncbi.nlm.nih.gov/32647915/

https://pubmed.ncbi.nlm.nih.gov/33310127/

https://www.cell.com/cell-metabolism/fulltext/S1550-4131(20)30647-1

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7521361/

https://openheart.bmj.com/content/7/2/e001356

https://pubmed.ncbi.nlm.nih.gov/32622449/

https://www.healio.com/news/endocrinology/20210113/more-visceral-fat-increases-risk-for-covid19-icu-admission-mechanical-ventilation

#136 BillyBob on 04.17.21 at 3:26 am

“What has happened to us? It’s not a rhetorical question, ma’am. What has happened to us? When did we stop caring about honesty and integrity?”

– Ted Hastings, AC12

(Line of Duty: best police procedural ever made. And yes that includes The Wire.)

Sorry Ponzi, no number of advertorial surveys can paper over it. The country has become farcical under Trudeau. I believe your own word was “joke”. Seems to be the preferred adjective. At least it rhymes with “woke”.

https://nationalpost.com/news/canada/sabrina-maddeaux-canadas-2021-olympic-outfits-have-one-message-were-a-joke

#137 under the radar on 04.17.21 at 5:52 am

Wednesday I cut a few cords of wood, yesterday split and stacked. Something inherently satisfying about it. This is working from home for me. A couple of chain saws and a 32 ton log splitter while hobby farms around me become insanely valuable.

#138 Wrk.dover on 04.17.21 at 6:34 am

#126 DON on 04.16.21 at 10:11 pm
How big is that red spruce?

———————————————

If it isn’t 10″ inside the bark at the small end, it is not lucrative. 20″X12′ is ideal.

#139 Wrk.dover on 04.17.21 at 6:41 am

#104 Faron on 04.16.21 at 7:44 pm
Splitting firewood is meditation.

——————————————–

My wife does all of that meditation, and the stacking, and all the burning in the house stove. Gotta love it!
78 degrees in here right now.

#140 unbalanced on 04.17.21 at 6:49 am

Way to go Stone. Good for you. I havent been around much lately. What you invested in. Just asking. No biggie if it is a secret.

#141 Love_The_Cottage on 04.17.21 at 7:21 am

#124 Stone on 04.16.21 at 9:47 pm
Look at the Atlantic provinces. Even they have better control. Actually, Ontario is the worst province in the country…
___
What specific policies have the atlantic provinces put in place that were different than Ontario? You know, beyond having a lot less people, urban areas, manufacturing and distribution centers.

The 14-day quarantine, of course. NS reported 6 cases yesterday in a pop of 1 million (60% of which is urban). Ontario reported 4,800 in a population of 14.5 million. NS has nobody in ICU and four people in hospital. Ontario has 700 in ICU and hospitals are over-capacity. NS has vaccinated 20% of the population and Ontario has dosed 24%. Draw your own conclusions. – Garth

#142 cto on 04.17.21 at 9:13 am

Kids…
there are beautiful houses just across the lake. you can almost see them from here! Look!!!!

https://www.zillow.com/homedetails/1534-Franklin-St-Olcott-NY-14126/2078637920_zpid/?

#143 cto on 04.17.21 at 9:18 am

Forget my last link…
you can stay in Canada and get this oshawa beauty for just a little less!!!!

https://www.realtor.ca/real-estate/22953147/1125-olive-ave-oshawa-central

#144 Cto on 04.17.21 at 10:23 am

Garth please use the comparison I just gave , to show people how out of whack our housing market is…
The younger generation and newcomers just use word of mouth, which can be very self serving, if you know what I mean…

#145 Phylis on 04.17.21 at 11:02 am

#143 cto on 04.17.21 at 9:18 am
Forget my last link…
you can stay in Canada and get this oshawa beauty for just a little less!!!!

https://www.realtor.ca/real-estate/22953147/1125-olive-ave-oshawa-central
Xxxxxxxxxxx
So when an address has 0.5, does that make it a half way house?

#146 Bert on 04.17.21 at 11:22 am

Respectfully, you’re ignoring what is occurring in the US (& globally). The US is in an early stage housing boom/bull market. Look at lumber prices. Look at the home building stocks. ITB XHB. Look at HD, RH, etc. Look at the demographics of the millennial and Gen Z population. These are the 2 largest cohorts back 2 back. This is not just a Canadian phenomenon. Yes home prices are trading at higher multiples here but Canada did not experience a 2008 subprime housing crash. Hence we’re starting from a higher level. This has real legs. Stop insinuating that housing is in some sort of bubble. We’re closer to the beginning than the end. Yikes.

#147 Dharma Bum on 04.17.21 at 11:46 am

#100 Sail Away

To Dharma- be careful about coming too far west. The further you go, the harder it is to return to where you started. It’s a known fact.

Also, any chance those animals were what we western hunters call ‘slow elk’? Also referred to as Holsteins, Herefords, Angus…
————————————————————————–

Hey Sail!

I’m hunkered down around Canmore for the time being. Experiencing the best weather that I have ever had out here since I’ve been visiting over the past 45 years. I love the mountains, so rain, snow, or shine, I really don’t care, but when the skies are crystal clear, it’s really magnificent.

I usually like to visit BC too, but right now, meh. I’ll stay on this side of the AB border.

I confirmed with my son’s girlfriend’s dad – an avid hunter out here – that they were in fact elk. Young’uns. They did have beautiful antlers, though. I even got some shots of them locking horns. But it looked like they were just playing with each other. Beautiful animals.

I’m still recovering from waking up so early to take photographs.

Today, I’m still in bed, staring out the window at the Three Sisters, drinking my third cup of coffee.

Maybe I’ll hang around out west a little longer. Not looking forward to the insanity and uselessness of the horrible Ontario government policies.

Doug Ford is a one trick pony. Dumb as a bag of rocks.

#148 Sail Away on 04.17.21 at 5:42 pm

#147 Dharma Bum on 04.17.21 at 11:46 am

Hey Sail!

I’m hunkered down around Canmore for the time being.

I confirmed with my son’s girlfriend’s dad – an avid hunter out here – that they were in fact elk. Young’uns. They did have beautiful antlers, though. I even got some shots of them locking horns. But it looked like they were just playing with each other. Beautiful animals.

———–

Definitely playing this time of year- young velvet antlers are tender. Things get serious in November when the herd bull takes charge.

#149 its all just diddling on 04.17.21 at 6:30 pm

The BoC, the Gov….they diddle when they shouldn’t and do nothing when they should. A complete bunch of clowns.

The economy is based upon debt, they love it. Money doesn’t flow without the banks loaning money sourced from thin air … The BoC creating dollars out of nothing. And then they raise your taxes to pay for their plan.. Its such a ponzi. And of the average citizen ? Well they only oogle housing just as they want you too so you can become more indebted.

Until people break away from central bankers nonsense, this is what you get. Enjoy yourselves.

#150 Heddok on 04.17.21 at 8:39 pm

Dear Garth
As a retired physician – Thank you for deleting the anti-vaxers.

Brad

#151 glenn wood on 04.17.21 at 8:41 pm

I remember FOMO in the late eighties, when the moisters worked in Toronto and bought new homes in Barrie ON. By 1990 they were so far under water that they handed the keys to the bank and moved back to Toronto to rent. Home prices declined from 1989 to 1994, were flat from 1994 to 1998 and crept up thereafter. This time it will be much worse.