So Chrystia the Impaler turned out to be more of a Milquetoast Mama. The budget will be quickly forgotten, especially when it comes to pricing a house. Sorry, newbie would-be buyers, but the feds want real estate to run hot. That’s now clear. They did absolutely nothing to cool this sucker off, not even lip service to their Millennial and Gen Z voter base who will shoulder real estate debt for most of their adult lives.
But stop. Hey, what’s that sound?
Silence.
Apparently realtor phones (at least in the nation’s biggest market) have ceased ringing. Look at this report from one of GreaterFool’s clandestine double agents, posing by day as a prominent GTA broker:
“Live from my office meeting,” he says. “The market has flipped. Don’t know why but it has. Tons of new listings. Showings down big time.”
“Early days, and I haven’t checked the stats, (they tend to be a bit of a lagging indicator anyhow), but I have noticed that signs have been popping up like tulips for a week now. Today, at our virtual listing tour I had the first opportunity in a week to check in with the men and women who are active agents. Two things stood out. First, everyone reported a new listing, some more than one. This follows a period of many months in which everyone had buyers but no listings.
“Secondly, showings, which are tracked in real time on every listing agent’s phone, were down significantly. Others reported expecting multiple offers, but finding themselves with none. Staff reported that the phones were quieter than they had been. It is anecdotal at this point, and perhaps some of your blog dog realtors may or may not corroborate my experience.”
He’s not alone. Similar reports have come in from the burbs of Vancouver and some of the larger regional markets, like London and Barrie. What was a conflagration two weeks ago is now barely smouldering. Deal numbers are off, yes, but it’s the level of buyer activity – inquiries, calls and showings – that tell the real story.
What’s happening?
Lots. First, we have the damn Third Wave. This one is scary in a whole new way as the health care system starts to buckle. Now you don’t need to worry only about getting Covid, but anything that could send you to the hospital. The world is suddenly too volatile and unpredictable to merrily mortgage your soul.
Second, it’s spring. The time when people traditionally list houses. If demand drops a little while supply swells the market will respond. And it is. Bigly. Have you done a realtor.ca search for new listings in the past 14 days?
Third, travel restrictions. In BC Comrade Premier Horgan has told people not to venture out of their own health authority regions. In Ontario Doug Ford has erected barriers at the borders with Quebec and Manitoba (to keep Ontarians from fleeing). Today Nova Scotia virtually sealed its borders, including to residents who are now told not to travel unless essential. Nobody gets in, either. Even for funerals.
Fourth, there’s no value left in residential real estate. Everybody looking to buy knows they’ll be hosed, fleeced, Hovered and ripped off by greedy vendors and rapacious realtors. All purchasers – except those still riddled with FOMO – must understand they’re buying into a bubble, at the top, paying a huge premium in precarious times for dubious reasons. In short, we may have hit that wall. And no wonder. A 30% year/year price increase is absurd, irrational and historic.
We used to have a five-month supply of houses on the market, which recently slid below two before starting to edge higher again. If demand slows, things could change quickly. ‘Offer nights’ will end up being lonely affairs as agents and sellers who craved a vicious blind auction are left staring at an empty kitchen table. As new listings crop up beside places that have yet to sell, competitive pressure will build for prices to drop.
And, inevitably, as the herd gets dosed (we’re at 27% of adult Canadians) you can count on more workplaces opening, the WFH craze phasing out, and the shine coming off markets that looked like rural utopias six months ago. How did people moving to Woodstock, Hope, Marmora or St. John ever think they were going to pull this off? Pandemics suck. But they’re temporary. And, no, this one is not going to change the world.
Let’s see what happens. But for every action there’s a reaction. This one could be epic.
About the picture: “Baylie is a 2 year old Schnoodle, who loves to jump up on my chair,” says blog dog Peter in Kitchener, “as I’m reading the daily Greater Fool blog … she needs portfolio advice to protect her kibble account from the ravage of inflation, and from incompetent government policy. Lol.”
196 comments ↓
Look at this report from one of GreaterFool’s clandestine double agents, posing by day as a prominent GTA broker:
—————————————
I heard that this GTA broker is a triple agent!!! PREPARE Garth, PREPARE! Lol
Conservatives could just as likely support this budget as the NDP. Once Jugmeat said he’d vote for the budget, the Libs didn’t have to throw them a bone.
–Supply chain break down soon? BC has same rules. That leaked document again.
.CP24 @CP24 #BREAKING: Peel Region orders all businesses with five or more recent work-acquired coronavirus cases to shut down immediately
…which goes hand in hand with control over our Food Supply. Bet the meat plants get shut down.
.UK to speed up target to cut carbon emissions (bbc.com)
“Hitting the targets would require more electric cars, low-carbon heating, renewable electricity and, for many, cutting down on meat and dairy.
—-
— Once again our Travel/Movement rights are the target. In BC. Sounds like great way to end small town tourism and force people into cities, onto UBI.
https://globalnews.ca/news/7771885/covid-random-roadside-checks-travel/
“Horgan said the province has been working with the tourism industry to reject bookings from people travelling outside their local areas.”
— LAND: the new budget has it. Conserve land = no humans allowed
“$17.6 billion for green recovery — to conserve 25 per cent of lands and oceans by 2025”
— Small town bring-down? If you ban people from the land and heard them into cities – how do do it?
.Kevin [email protected] host Tee It Up radio show on TSN 1200 Ottawa, University of Illinois golf alum
“Golf is allowed in all 50 States and in every other province in Canada. Last year there were 20 million rounds played in Ontario with no reported cases of COVID 19 tied to golf.”
– Seen elsewhere: A video of the make-shift camp at Hamilton Hospital. Which by account is dis-used at this time.
https://www.instagram.com/p/CN4-lilAQ0q/
https://www.instagram.com/p/CN4-erLA3Y2/
https://www.instagram.com/p/CN4_Du1AXba/
Cue the list of closings that don’t happen because the buyer can no longer find a greater fool after realizing that they were that fool.
Should we feel sorry for those the at paid way too much for a place way too far away?
Nope….
Unbeknownst to me when I moved my family to Tampa Florida from Mississauga in summer of 2019 that It turn out to be one of the best decisions of my life. When I talk to friends & family back home I do not recognize the country I grew up in.
All my friends family would ask me during the pandemic (yes its been over here since the fall or at least it seems that way) if I was coming back now I cant tell you how many of them are asking me about housing prices in Florida as they are looking to get the hell out of Canada.
I found a typical “Rockstar Realtor”
Look at the Hummer this guy tools around town in.
https://www.realtor.ca/real-estate/23056572/4175-trinity-street-burnaby
Look at this report from one of GreaterFool’s clandestine double agents, posing by day as a prominent GTA broker:
———
I would laugh if it was Frank Leo. Multi-million dollar marketing strategy…promoting…what else…Frank Leo.
https://getleo.com/
When you think about the budget remember just a few years ago Trudeau said “Veterans are asking for more than what the country can give ”
“One of the most striking aspects of the pandemic has been the historic sacrifice young Canadians have made to protect their parents and grandparents.” – Chrystia Freeland
4 Years of your life fighting an intransigent German Army = Historic Sacrifice of young Canadians.
8 months collecting CERB and playing video games in your parents basement = a significant annoyance.
Puffery
These guys report similar market conditions. Burn, baby, burn!
Canadian Real Estate Is Moving From Pent-Up Demand To Pent-Up Supply
APRIL 20, 2021
Canadian real estate inventory appears scarce, but that might be starting to change. Canadian Real Estate Association (CREA) data shows new listings grew faster than sales in March. A massive amount of sales are actually being met with even more inventory these days. Record sales are due to pent-up and pulled-forward demand, but inventory isn’t. This leads to the possibility that inventory could run longer than sales. If that were to happen, it would ease market pressures without government intervention.
Canadian Real Estate Sees New Listings Soar
New listings for Canadian real estate were some of the highest on record last month. Seasonally adjusted there were 86,212 new listings in March, up 7.45% from a month before. Unadjusted new listings reached 105,001, up 50.72% compared to the same month last year. This is an exceptional amount of inventory coming to market all at once.
https://betterdwelling.com/canadian-real-estate-is-moving-from-pent-up-demand-to-pent-up-supply/
Our family is comfortably ensconced in a suburb of a large city, with zero intentions to move & my better half’s employer just released the great news that they’ve “endorsed the concept of work from home on an ongoing basis”.
These pandemic restrictions on Van Isle are hell. In the last week, I’ve only been on 1 group run, 2 group MTB rides, 2 individual rides with the dog pack and a couple hikes with my wife. And a fully-staffed fully-vaxxed office and a few dinners/drinks with friends.
It’s exhausting. Make it stop.
People here in Penticton that are downsizing are doing so at the right time. Ever notice when a “vaccine” comes out the virus mutates. States where there are no lockdowns or lifted them seem to have less cases of CV-1984.
Not sure if it qualifies as full-on flip, but listings are up 33% in our corner of the universe and homes that were on the market with “offer nights” are still languishing a month or two later.
Could be lots of issues. Fatigue, tighter credit, Covid V3, etc, etc, but it could be a long summer. The era of extremes continues, maybe not in a good way if you just bought a house.
Canadian dollar is down more than half a cent … looks like the currency traders are not going to quickly forget the budget deficit which is 25% higher than the US on a GDP basis. A deficit doesn’t hurt our kids in the distant future, it hurts us now.
I wouldn’t be surprised to see the dollar head to the 65-70c level within the next couple of years. Good job finance minister. Expensive houses and high import prices. The person who keeps his/her savings in CAD is perhaps the greater fool.
I haven’t seen this happening yet in north shore. Still hearing about multiple offers and most of the sales notifications I get are all over asking by couple of hundred grand that sell within a week.
It could be that it will slow down here once Vancouver slows down but not yet.
A friend of ours in west van is taking their listing down after hearing about budget. His point, why sell for 5m now when he can sell for 6m in next yr FOMO.
I wanted to tell him this was a gamble but then I remembered he did the same last year when he was expecting 4m, at the time also it looked like the market top.
Unfortunately, just when you think and/or cite that the market is flipping, the latest restrictions in BC and Ontario will actually pour new fire on the market.
Its unfortunate timing, but the imposition of the restrictions will remind everyone again as to why they are moving out of the cities and into the burbs and stix.
So just as the market was starting to unravel, these new restrictions just extended the bull rally. Mark my works, that May, June and July sales will be unprecedented and this April flip will be a brief anomaly. The restrictions will actually increase pent up demand as sales slow in April, creating the conditions for increased price gains.
The market will remain irrational longer than you can stay solvent.
That seems so ass backwards. With more houses on the market shouldn’t there be more showings, now that there’s more choice for buyers?
The Liberals budget was a budget for going into a pandemic, not for one where we are today. Many jobs have been recovered, the economy is actually doing quite well. They are creating huge debt. Freeland said that people should be able to afford homes that’s why we are putting in a 1 percent tax on second properties. Does she think the public is that stupid? This is like telling me if I buy a condo in Mexico for $100K I have to pay 1K a year. I will grumble but I won’t change my behaviour. I wish we had a credible opposition, the LIberals should be voted out.
Rob Ford should resign. He was told of the exponential growth from modelling experts, yet he opened the economy more instead of clamping down. Now these deaths in Ontario are on his watch, due to his incompetence and his being either too cowardly or too stupid to grasp the severity of the situation and stand up to the business community and enact tougher measures.
out. ‘adult supervision’ LOL, not mincing words
poor dougie…KAPUT
https://www.ctvnews.ca/politics/don-martin-it-s-time-for-adult-supervision-or-a-premier-replacement-in-doug-ford-s-ontario-1.5394887
The 5 year bonds are consolidating before the next move up.
https://www.bankofcanada.ca/rates/interest-rates/canadian-bonds/
The higher mtg rates are coming. That should douse any cinders from the spent RE euphoria.
The govt didn’t really have to do anything. Mr. Bond will do the needful.
The govt is focusing on keeping the economy live and people employed. They are trying though I do not approve of their methods.
And so here we are, in deliberation.
Can you believe the political pressure to get this guy convicted?
https://www.cbc.ca/news/world/biden-praying-right-verdict-chauvin-trial-1.5994833
MN has no school Wed-Fri due to fear of what will happen when jury hands down the verdict.
This jury is coming back not-guilty, you’ll see. There is just no way to prove cause of death beyond reasonable doubt and beyond this evidence. Dr. Baker baked the prosecution, and he was their own witness!
Prosecution’s star expert was called back after Nelson brought up the CO issue, and Dr. Tobin proudly and loudly declared that George Floyd couldn’t have been effected by squad 320 exhaust pipe, from which he was but a foot away, because his blood oxygen was tested at 98% at the hospital after arrival. To which Nelson in closing statements pointed – “how can cause of death be asphyxiation if George Floyd’s blood had 98% oxygen content?” Indeed, how? NOT GUILTY.
Alan Dershowitz, Legal Scholar Harvard University opined that the Murder 3 and Murder 2 statute the court handed down to the jury will not withstand the Supreme Court appeal. Apparently they’ve twisted the charges in MN so much, it deviates from the accepted definition of both charges and Supreme Court is sure to not agree.
Alan Dershowitz even feels the Taser/Gun mix up inditement of Manslaughter is incorrect, and again likely to be overturned on appeal. Oh look, actual article!
https://www.newsweek.com/charging-kim-potter-manslaughter-not-justice-under-law-opinion-1584314
#8 Dogman01
‘4 Years of your life fighting an intransigent German Army = Historic Sacrifice of young Canadians.’
No better words.
This Sunday they, the Greatest Canadian Generation, will have my undying gratitude and fealty for their sacrifice so that there can be a Liberation Day in Italia.
Bella Ciao e Grazie Dogman01.
Indeed.
I had given up on hoping for fiscal sanity before the budget was released.
Must now figure out how to profit from outrageous spending – get grants in CAD $ and then quickly convert to Swiss Francs before the CAD $ becomes worthless.
And you guys wanted the government to interrupt the business of home sales,,, no need as PM an Co know what they is doin,,, see..?? wait a minute,,, didn’t we see this same thing at the beginning of the first wave too..??
Let’s wait for a little more confirmation than an internal sales meeting during a lockdown LOL!
This reminds me of the ‘peak house’ proclamations of 2016 back when houses were probably 50% cheaper than they are now.
It was bound to happen, the housing prices have gotten too insane and out of wack. It’s 800k+ price for 3 bed homes from Barrie to Scarborough/Northwest Etobicoke. Who the hell can afford that?
Everyone knows the market is overheated and doesn’t want to buy, this bubble might just take care of itself.
Wonder if the allure of crypto has anything to do with the mad dash for RE coming to a grinding stop. In multi-asset manias, there are a lot of balls in the air to track. Maybe the addition of the DOGE coin insanity was one ball too many? “But, wait, I’ll just sell and go back to RE to make money. Oh, too late…. RE’s done too. And now I’m underwater on my DOGE…” Plop. At least it was laundered money.
BC and ON are where Italia was, a suspension of liberties in March and April 2020.
I understand you all well.
I wish you all a speedy recovery to whatever normalcy will be much, much sooner than later.
Stay the course, defeat the variants and get vax’d.
The variants are more voracious so have a care Canada.
——————–
Back to “Dire Straits” vaxing in Canada yesterday:
262,792
At that rate:
100% done* by Nov 9, 2021
If 80% req’d for Herd Immunity that achieved by
Sep 29, 2021
42.8M jabs to go*.
*100% or All = 32M ≥ 15 yrs old, incl vax’d to date, 1 & 2 doses.
————————
Again, yesterday in Italia announced 54M Pfizer doses to come in JUNE. Expect a proportionate TSUNAMI of vax to come you way then as well.
3X shipments in the 1st Qtr.
JUNE. That is the month Canada when you begin to awaken from the nightmare.
You know what to do until then.
https://www.adnkronos.com/ue-per-italia-6-5-milioni-di-vaccini-in-piu-fino-a-giugno_1kbLgrKwnDGrtK3xO6yOc8
#22 MN vs. Chauvin
Alan Derwostits this & Alan Derwoshits that
Alan Dershowitz, Legal Scholar Harvard University opined that the Murder 3 and Murder 2 statute the court handed down to the jury will not withstand the Supreme Court appeal. Apparently they’ve twisted the charges in MN so much, it deviates from the accepted definition of both charges and Supreme Court is sure to not agree.
Alan Dershowitz even feels the Taser/Gun mix up inditement of Manslaughter is incorrect, and again likely to be overturned on appeal. Oh look, actual article!
#22 MN vs. Chauvin
Alan Derwoshits this,,,,,,, & Alan Derwoshits that
Alan Dershowitz, Legal Scholar Harvard University opined that the Murder 3 and Murder 2 statute the court handed down to the jury will not withstand the Supreme Court appeal. Apparently they’ve twisted the charges in MN so much, it deviates from the accepted definition of both charges and Supreme Court is sure to not agree.
Alan Dershowitz even feels the Taser/Gun mix up inditement of Manslaughter is incorrect, and again likely to be overturned on appeal. Oh look, actual article!
#22 MN vs. Chauvin on 04.20.21 at 3:15 pm
Alan Dershowitz
—
He’s a class act, that Alan.
I’m guessing you are Tron Lite or some other Trump numb-skull who is bored now that your hero is out of office.
Apparently realtor phones (at least in the nation’s biggest market) have ceased ringing.
————–
Or was it Rogers network was down for a day thousands
of home sale gone forever.
My junk email address [email protected].
Troll away possums.
No perusal of Subjects, Select All, Block.
(‘cept you Garth then again, you know my real email address).
Like everyone else, we all need an email address when we subscribe to what may end up as dubious services, web sites. And like everyone else, I have my weaknesses too.
One of them was Le Parisien, the new Paris Match. They are persistent.
Oh well, c’est la vie.
Così fan tutti.
One can only hope. I took a look at zealty for prices in my E Van neighourhood and I saw an unrenovated ugly Van Special that had been sold in Jan for 1.65M, back on the market for 1.9M. Teardowns are now 1.6M. So many houses that had originally been placed on the market in Q1 have had their asking prices increased. Can’t wait for this insanity to end.
Garth:
They did absolutely nothing to cool this sucker off,
————————————————-
Many politicians own expensive homes don’t they?
https://ipolitics.ca/2013/10/15/chrystia-freeland-defends-1-3-million-home-purchase/
Shameful comment. – Garth
Has the market flipped? It remains to be seen. Perhaps this is merely the calm before another senseless buying frenzy. Or possibly folks have finally reached their spending limit & are no longer willing to take on epic debt.
Verdict at 4:30 EST!
Not guilty – watch and see!
#34 Dolce Vita on 04.20.21 at 3:44 pm
My junk email address [email protected].
———
I was kinda hoping your email would be [email protected]
Now, I’m really disappointed.
I was talking to realtor friend about how long can this last, at some point we would reach a point when prices are just too high for anyone to buy, solution for high prices is high prices etc..
What he told me makes complete sense and describes the market behavior
– As prices go up, so does people’s paper net worth.
– In 2015-16 prices of detached doubled and they became out of reach, detached market cooled down and bottomed in 2019
– Condo prices nearly doubled from 2016 to 2019
– All condo owners were now flush with cash, most 2bed owners suddenly had 300k to 500k in new found equity.
– These condo owners then started buying detached and sending prices higher in 2019
– Detached owners suddenly found themselves rich in equity again and started to bid up detached north of 2mil
In short, you introduce more buyers with higher downpayment as prices go up.
Look at the market, that’s exactly what has been happening and unless there is a psychological shift, it will go on forever, there is no lack of money, HELOCS and equity will keep pushing prices higher further increasing equity. Rinse and repeat.
Also he said he hasn’t observed any slowing in lower mainland, in fact condos are now joining the madness.
Being a Boomer sucks. There goes my chance at a good price on that 2021 BMW X6 and on that 45 foot Starcraft with twin Volvo inboards. Up yours Liberals.
Happy 420 Everyone!
Oh no, I’m late, and I’m not stoned anymore. I’m coherent, seeing the world as it really is. Must be the interaction of MJ with the AstraZeneca vaccine.
This really sucks.
What will I do with my life now?
Maybe become a realtor…?
I just knew when a saw that article yesterday on home bidding wars in Prince George BC that the realty boom was ending ASAP. Can you imagine WFH mania has actually hit Prince George ??
#158 the Jaguar on 04.20.21 at 8:12 am
Good write up in this mornings National Post which nicely sums up our ‘Woke” budget:
https://pressreader.com/article/281590948400194
******************************************
The PC madness is rampant in this. It’s actually hilarious. SNL could have a field day. Not only has the debt expanded beyond sanity the new LPC woke definition of LBGT has too (2SLGBTQQIA+}. Can’t make this garbage up. Hahahahah!
Love the blog but wfh ain’t going anywhere but up. Easy to regulate and monitor. The savings are real.
Baylie is such a cutie! Garth – do you also post cat pics? I have quite a few from our kittens. :-)
Cats are evil. – Garth
Garth, I just noticed yesterday you said this:
“It’s been four months since I flew out of Toronto just as that city was shutting down for four weeks.”
OMG, you have been to Toronthole recently!?
Garth, I am so very sorry I missed this alarming news.
You need to be EXTREMELY cautious about the after-effects of visiting that sinkhole on your health and well-being and risks to others.
The effects of TDS (Toronthole Derangement Syndrome) can be deadly and can otherwise ruin your life and make you a complete a-hole in the eyes of everyone you meet in Nova Scotia and Real Canada.
Please self-quarantine for at least 1000 days and watch for any of the following TDS symptoms:
1.Do you have a desire to tailgate, honk and flip the finger at anyone doing under 110KMH on the highway?
2.Do you believe that a week without at least 10 shootings/stabbings and/or murders is just boring?
3.Do you look at trees and parks in disgust and feel a compulsion to turn them into glass-walled condos?
4.Do you feel like a failure if you spend less than 120 minutes daily in your car commuting?
5.Do you feel that having a sports team that has failed pathetically for 53 years is just fine, because just like stocks in Nortel and Bre-X, they will always come back?
6.Do you believe that you are “world-class”, regardless of any of the other above symptoms?
Please self-monitor carefully, and contact your psychologist immediately about any of these symptoms.
The only cure is to stay away from Toronthole as long as possible.
This may also help lift your depressed spirits:
https://www.youtube.com/watch?v=iRjurRdep_Q
Stronger Together, we can reduce the risk of TDS.
So they more like the realtors in real life? :-D
I would argue that they cats are like humans – some are good, some are bad, some are nasty, some are sweet. As with humans the upbringing has a huge influence – a little kitten who stayed for 2-3 months with his mama and litter mates is much more friendlier and good natured that a cat who lived in a pet shop – thank god they closed those!
Cats are evil. – Garth
If you feel this way Garth, go with another animal.
A chipmunk.
A pink flamengo.
A hippo.
Or give insects some recognition – they are after all more important to the plant’s survival than humans. They take care of the soil and plants that make the world habitable and sustain life.
A worm.
A bee.
A ant.
I don’t want to live in the dog-eat-dog world with unscooped poop every where I look!
Speaking of which…why can’t dogs learn to go to the washroom like a civilized animal?
Face it Garth – cats have dogs completely beat on this point. Dogs are such….dogs when it comes to pee and poo.
Cats are evil. – Garth
Also Garth…this!
https://www.youtube.com/watch?v=TjrvyfIgZWk
Hi Garth,
I agree that there has been a bit of a slowdown in buyer interest the past few days but that can be attributed to many reasons including the latest scary lockdown.
I took a look at the data that I have available through the Ottawa Real Estate Board and see no indication that the market is about to turn anytime soon.
Of course I do not have a crystal ball and anything could happen, but based on the numbers I see I am expecting a very strong spring market.
Charts and data below:
https://www.kirilpeev.ca/active-listings-up-50-is-the-ottawa-real-estate-market-slowing-down/
#38 MN vs. Chauvin on 04.20.21 at 3:55 pm
Verdict at 4:30 EST!
Not guilty – watch and see!
—
So, uuuuh, what stocks do you like?
#43 Drill Baby Drill on 04.20.21 at 4:29 pm
I just knew when a saw that article yesterday on home bidding wars in Prince George BC that the realty boom was ending ASAP. Can you imagine WFH mania has actually hit Prince George ??
Came here to say the same. There are two good things about Prince George and the traditionally low cost of living is by far the greater of the two.
Inventory is increasing rapidly in the Fraser Valley areas of BC.
#23 [email protected]
Italy celebrates being defeated in WWII and calls it Liberation day? That can’t be right…
Chauvin guilty. Riots averted (for now).
@ MN vs. Chauvin
Jury says GUILTY! (sorry to burst your bubble).
Now fess up and tell us which regular blog dog you really are instead of hiding behind a temporary pseudonym – which I guess will be the last comment you make under with that name since things didn’t turn out like you said they would.
Are you CEF? Nonplussed? SailerMoon? BytorTheSlowDog?
Was it too much to expect politicians to fix everything?
May be they thought a fix is not required and the market will correct itself.
Do they even think a fix is required?
One man’s food is another man’s poison or vice versa.
But there are multiple contributors for the current state – people who feed fomo, realtors, shady lenders, regulators and central banks.
Who is even responsible to identify there is a problem and accountable to fix different parts of the problem.
my rationale continues to hold.. people are able to buy high by selling high… the delta mortgage is easily serviceable..
there is no cooling of this monster simply by changes in consumer behavior.. it has to involve rapid rate change or policy change..
seeing another proliferance… buyers renting their basement to make up for any contingency..
property just sold for 360K above asking.. doesnt make the news anymore..
**property in mississauga just sold for 360K above asking.. doesnt make the news anymore..
Likely the main reason things cooled ever so slightly recently is because folks were waiting to see if the Feds would clamp down in any significant way. And as expected, they did absolutely nothing of any significance whatsoever. Now investors and speculators can get back to ramping real estate prices 20-30% per year – you know, for the good of the country.
I can’t wait for the Tiffster to hem and haw about real estate prices tomorrow, and then likewise proceed to do absolutely nothing. In fact he’ll probably pledge to keep the overnight rate at zero until 2050 or some other such nonsense. That ought to really cool things off, eh?
One can’t expect Shakespeare from clowns.
Would it surprise people if the budget spending isn’t actually enough to keep the economy buoyant? I can’t even tell where all the spending is going. It’s 100’s of billions but all I see is 100’s of millions here and there. Maybe we are already at a structural breaking point. Time will tell.
And is the bond buying slowing?
These would be the big factors that allowed fomo to run wild. It would be astounding if we had to do 2 or 300 billion a year now for a status quo economy.
This could get bad faster than anticipated. Getting a weird ‘somethings not right’ feeling about it.
Hope it’s not Greece # 2.
#52 Faron
So, uuuuh, what stocks do you like?
—
This will get overturned on appeal, but America needed the guilty or the whole place would have been on fire tonight.
I can only imagine how much fear these jurors had for their own safety following this trial if they hung the jury or voted not guilty. Self preservation and external pressure and awareness was just too much for this jury.
I’m fascinated really that Dr. Tobin got called back to address the CO, and stated “George Floyd could not have suffered carbon monoxide poisoning because his blood had 98% oxygen saturation” while forgetting he argued asphyxiation as cause of death.
I ask you, how can Tobin testify that Floyd died of low levels of oxygen caused by asphyxiation, when he just came in and argued repeatedly that tests showed 98% saturation of oxygen in Floyd’s blood at the end of this trial?
You see the clear and obvious scientific conflict?
Did I tell you about the skin being pulled off George Floyd’s back by Dr. Baker to look for bruises – and there were non to be found even in the muscle tissue?
Did I tell you about the Canadian study that had over 1200 people put in prone by cops and not a single death?
This case was not tried on facts, it was on politics. If the President of United States prays for a guilty verdict, he remembers after the payer that he has the power to answer his own prayers.
definitely more supply in neighborhoods I’m seeing, but definitely still too high to buy… might still rent for a year or two and continue to build the DP and hope prices decline.
Substitute ‘real estate’ for ‘art’ and you’ll get the picture.
“The art market operates in an economic model that considers more than supply and demand: it is a hybrid type of prediction market where art is bought and sold for values based not only on a work’s perceived cultural value, but on both its past monetary value as well as its predicted future value. The market has been described as one where producers don’t make work primarily for sale, where buyers often have no idea of the value of what they buy, and where middlemen routinely claim reimbursement for sales of things they have never seen to buyers they have never dealt with.”
https://en.wikipedia.org/wiki/Art_market
#57 Sara on 04.20.21 at 5:19 pm
Of course he was guilty! He’s been guilty in the court of public opinion since it happened. I’ve been following the trial and basically there was enough reasonable doubt to find him not guilty on all charges.
I would be surprised if he doesn’t appeal but he probably doesn’t have enough money to do so.
.Don’t be surprised. Be glad you never bought into the overheated markets because it is going to be deals, deals, deals everywhere for a very very long time!
#41 Drill Baby Drill
Being a Boomer sucks. There goes my chance at a good price on that 2021 BMW X6 and on that 45 foot Starcraft with twin Volvo inboards. Up yours Liberals.
HAHAHA
Guilty on all three – WOW!
I thought they would pass on murder and find him guilty of manslaughter. A police officer guilty of murder – wow.
It seems like the MN v Chauvin clown is about as right on this as he was about the election being stolen.
You know the apocalypse is near when a Schnoodle appears on the blog. Please make your way to the bunkers before the Labradoodles arrive.
Baylie looks like a fine dog and a bundle of affection. My dog would love her, if he wasn’t nearly 14 and a crusty old Schnoodle.
Imagine Rosie calls the whole shooting match right again….
#55 Inequity on 04.20.21 at 5:14 pm
Italy surrendered to the Allies. September 8, 1943, the Germans then occupied Italy Oct 13 1943.
https://www.history.com/this-day-in-history/italy-declares-war-on-germany
Italy was liberated from the Nazis.
While this is American, it is over Italy
https://www.youtube.com/watch?v=kR6lWSIWUOA
Squadron Operations Officer with 170 missions…his age, wait for it……………… 22!
The Wing commander a Lieutenant Colonel is 24 Years Old.
That generation of young people knew what “historic sacrifice” was.
“there’s no value left in residential real estate. Everybody looking to buy knows they’ll be hosed, fleeced, Hovered and ripped off by greedy vendors and rapacious realtors.”
Well said Garth…I feel more at home in a used car lot.
“But stop. Hey, what’s that sound?
Silence.”
That Garth and friends is the sound of sanctions against Cantada and its gods of the real estate market place.
Homes are not worth crap if no one in their right mind will step up and buy them.
#66 Trojan House on 04.20.21 at 5:30 pm
#57 Sara on 04.20.21 at 5:19 pm
Of course he was guilty! He’s been guilty in the court of public opinion since it happened. I’ve been following the trial and basically there was enough reasonable doubt to find him not guilty on all charges.
—-
There was EASILY enough reasonable doubt. Dr. Tobin – the key prosecution expert witness contradicted himself with the CO callback claiming Floyd had 98% oxygen level in his blood, but died of low levels of oxygen caused by asphyxiation?
Something sure as heck doesn’t add up.
Did we just witness a show trial?
Tell you what, I’m glad I don’t live there. I’m glad I’m not subject to that legal system. I’m glad to not be American, because America is a basket case.
Politicians disenfranchise minorities economically and educationally and then point a finger at some cop who had to handle a drugged up resisting convict who couldn’t be handled in a cruiser by three cops. How did George Floyd end up on that path in his life? Did he have the opportunities? The access to eduction? Job opportunities? Human rights? No one asks how George Floyd ended up by that rear wheel of squad 320. Point the finger at the cop who had to arrest a man resisting returning to jail or prison. How convenient for the politicians. Case closed.
Not much different than a CEO of a company rolling in money and privilege and private jets as his Amazon warehouse employees pee in bottles and slave to pick and ship crap, and then laying off those employees without benefits when revenues spatter or firing them for taking too many sick days or flagrantly pushing unions out so that they don’t gain any benefits that they enjoy without having to ask. 110B worth? 120B? 130B? 180B. 200B? MORE MORE MORE! I NEED MORE!
Take your apple pie and Chauvin it!
Once you begin to run out of first time homebuyers the chain of demand that supported the rapid increase in house prices shrinks. The number of potential buyers who can qualify for financing at the 4.94% interest rate used in the current stress test for NHA insured mortgages is shrinking not expanding.
A $600,000 home requires a minimum down payment of
$30,000 plus a minimum of $10,000 to cover incidental costs. The current stress test would be applied to a $592,000 mortgage after adjustment for mortgage insurance. The adjusted monthly principle and interest payment would exceed $3,400 to qualify even though an interest rate as low as 1.5% was being offered. After adding a minimum of $350/month in property taxes total PIT would exceed $3,750/month.
Based on a GDS of 35% of gross household income the gross income of a potential home purchaser would have to exceed $128,000 per year in order to qualify under existing stress tests. The number of Canadian households with gross incomes in excess of $128,000 per year who do not already own a home is definitely not sufficient to support the continuation of current price levels.
FOMO created demand and the majority of first time homebuyers who qualified under the existing stress tests have already entered the market. The equity required to continue the chain of demand that led to current price levels has to be borrowed from financial institutions who must comply with stress tests.
It is the current household income levels of potential first time homebuyers that will disrupt the chain of demand and lead to a reduction in current price levels. If you doubt this conclusion have a peak at the projections of gross household income by quintile prepared by Statistics Canada for 2020. 60% of all Canadian households would have difficulty qualifying for a mortgage to purchase a $600,000 home if they had not accumulated substantial equity through existing home ownership.
At some point the income levels at the front end of the chain in demand becomes very important. That point is much closer than those who believe in the continued escalation of house prices may want to consider.
#66 Trojan House on 04.20.21 at 5:30 pm
“Of course he was guilty! He’s been guilty in the court of public opinion since it happened. ”
He was also found guilty in a court of law. Nice to see everyone was in agreement. Just sayin….
Nice to read “law and order”-types voicing their “concerns” on fair trials due to Chavin’s verdict. Fox News and YouTube comments sections are great reads for tonight.
#57 Sara on 04.20.21 at 5:19 pm
Are you CEF? Nonplussed? SailerMoon? BytorTheSlowDog?
No, CEF has heart despite his snark, Nonplused isn’t as edgy/sharp, SA never as direct unless angered, Bytor possibly, n1tro, Tron Lite, neo, etc all seem likely. Garth probably knows.
#66 Trojan House on 04.20.21 at 5:30 pm
I would be surprised if he doesn’t appeal but he probably doesn’t have enough money to do so.
—
In case you haven’t noticed, republican slime like to send money to their beleaguered goons:
https://www.refinery29.com/en-us/2021/04/10426083/kyle-rittenhouse-police-donate-money
If there’s any defending Chauvin, repubs and the far right will pile in. Fox news said the case is too tight for appeal.
Kyle actually shot people and was allowed to walk away, right pass the fuzz with his murder weapon around his neck. Floyd was pulled out of his car, unarmed, at gun point despite his hands being up. That’s what started the interaction with the cops on that day. My honest, humble impression? The whole thing sucks. I watched the body cam footage because I wanted to see for my own eyes what happened. What I saw were tired, frustrated cops who were under duress and made a massive mistake. They operated outside of their training and probably let a bit of latent racism and their own numbness to the humanity of those they “patrol” keep George pinned too long. It’s tragic all across the board. Nobody should be celebrating this. I, personally, feel saddened by the whole thing.
A pause in frantic multiple offer greater fool buyers, OK . Peak price for houses. ? Not so sure, costs for materials soaring , skilled trades name their price.
Prime real estate will get much more expensive. A lot of money out there with no place to go except real estate or the stock market.
So does this mean I won’t make $31,000 on my house this month? Bummer.
#8 Dogman01 on 04.20.21 at 2:39 pm
When you think about the budget remember just a few years ago Trudeau said “Veterans are asking for more than what the country can give ”
“One of the most striking aspects of the pandemic has been the historic sacrifice young Canadians have made to protect their parents and grandparents.” – Chrystia Freeland
4 Years of your life fighting an intransigent German Army = Historic Sacrifice of young Canadians.
8 months collecting CERB and playing video games in your parents basement = a significant annoyance.
Puffery
——————————-
Money for veterans? No. Free day care? YES!
I have argued before that in the case of school taxes you can look at it as paying back the cost of your own education rather than paying for other people’s kids, since you got a tax payer paid education too. But in the case of child care this truly is a freebie aimed at people who have kids paid for by people who don’t.
And many people, at least among those who have the means, won’t use it anyway because they don’t want their young children raised in a box in a mall by disinterested caregivers who are looking after 15 kids each.
And it is not a “feminist” program. Currently the tax credit for child care goes to the lower income earner whether that be a man or a woman. It is not based on sex, but income. And although not as common, increasingly men find themselves in the primary care roll.
But it is a nice sound bite.
If this is the way it is going to go, wouldn’t it be easier and more fair to just increase the Canada Child Benefit for preschoolers rather than trying to establish a whole new program? Or increase the current tax deduction?
This mix up of thought is getting extreme. For example in the US it is now racist to think minorities have photo ID or can learn to read and write or do math. Yet they all seem to have cars to me, and thus I assume a driver’s license. But being asked to show that ID to vote? RACIST! Being asked to show that ID to buy booze or smokes? Well of course, that’s the law.
Big C on 04.20.21 at 2:31
Unbeknownst to me when I moved my family to Tampa Florida from Mississauga in summer of 2019 that It turn out to be one of the best decisions of my life. When I talk to friends & family back home I do not recognize the country I grew up in.
All my friends family would ask me during the pandemic (yes its been over here since the fall or at least it seems that way) if I was coming back now I cant tell you how many of them are asking me about housing prices in Florida as they are looking to get the hell out of Canada.
*********************
BIG C… my email address is [email protected]. We’re considering making the exact same move. I can’t stand Oakville anymore…Can you email me your contact info? Would love to hear what your experience has been like.
#22 MN vs. Chauvin on 04.20.21 at 3:15 pm
“This jury is coming back not-guilty, you’ll see. There is just no way to prove cause of death beyond reasonable doubt and beyond this evidence. Dr. Baker baked the prosecution, and he was their own witness!”
The verdict was guilty. How could it be anything other after Mad Max called for riots and jury harassment in the case of any other verdict?
I don’t know whether Mr. Chauvin was guilty or innocent, but this trial was over way before it started.
Up next: even more police officers retiring early or just quitting. It is too dangerous to be a police officer right now, because if the bad guys aren’t shooting at you they now have license to resist arrest. No good thing can come of this.
Cats? My tortoiseshell is a pain, but loved just the same.
An Ocelot or maybe a serval, well lets just say the attitude would compliment the owners personality.
A snow leopard might be pushing it, then again?
This is exactly what I was saying a few months back.
This unexpected variant mess (which has the pandemic worse now than at any other time) is pulling the wall forward for this market to hit.
Most stimulus coming to an end in 4 months.
And the rate adjustment and price pop is in.
Stimulus being extended a bit but it is coming to an end.
Where is the tailwind?
Expect massive volatility. People selling a few months ago are going to look like geniuses but that doesn’t mean prices will crash.
Prices will only crash once rates jump (if they ever do).
If really is that simple.
Also, I saw Christy testify today. I don’t like her. However, she made a good point that the current government does not have much different policy than what her gov had in place. I mean really, what has the NDP done to combat laundering? Any arrests? Are house prices stable? Nope. Sounds like the whole thing was more politicized for election reasons than anything else. And if worked for the NDP.
Nice to see Horgan come out of a cave yesterday to address the horse out of the barn in BC. Let’s see if they actually enforce anything he said about travel restrictions. At least they are getting ahead of May long unlike the last long weekend where they were easing restrictions. Whoops.
And finally. Is there a contingency for a mutant variant that starts us all over from scratch? Double mutant? Rhetorical question. Heaven forbid.
Job hiring better pickup asap – still ain’t a pretty picture for many.
#41 Drill Baby Drill on 04.20.21 at 4:27 pm
Being a Boomer sucks. There goes my chance at a good price on that 2021 BMW X6 and on that 45 foot Starcraft with twin Volvo inboards. Up yours Liberals.
—————————————
I wonder how much money this “luxury tax” is actually going to bring in. There is already GST on these “luxuries”. And there are only so many “luxuries” sold. Do you pay the “luxury tax” on the whole purchase amount or only the portion over $100,000 for a car? What if it is a 5 ton truck used for work? That’ll easily be more than $100,000. Where do RV’s fit in?
Seems like a job creation program to me, with a whole new layer of bureaucracy and nothing productive to show.
And they again do not understand human behavior. The tax is easy to avoid, just buy a $249,000 boat. If you are buying a mega-yacht, purchase, flag, and store it in the US. Florida maybe. Better weather anyway.
All in this wasn’t a budget, it was vote pandering.
Cats are evil. – Garth
___________________________
Stop your dogawful anti-feline RACISM!
Re: Chauvin trial.
This was the first time that l followed a real courthouse trial in the States.
I just wanted to see for myself how the system works, rather than having it regurgitated by the Media.
I would not say the guilty verdict was ordained, but it certainly was necessary, first to send a message to law enforcement officers, and second to forestal a catastrophic and violent response that would have seen America burning and many hundreds dead.
I thought, it could have gone either way, but in the end I think the picture of a cop kneeling nonchalantly on a black man’s neck, causing him to suffocate and die while calling for his mother, tipped the scale for even the most hardened juror.
I dug out my March data for TOTAL Residential Inventory and Sales and expressed them as a percentage change since 10 years ago:
http://www.chpc.biz/sales-listings.html
INVENTORY 10yr % Change
Vancouver -30
Calgary -46
Edmonton +16
Toronto -31
Ottawa -76
Montreal -54
SALES 10yr % Change
Vancouver +40
Calgary +24
Edmonton +73
Toronto +69
Ottawa +83
Montreal +22
Ottawa and Edmonton appear to be outliers.
I will add an ongoing table to this page to show the 10 year change in data later this week.
@#57 Triggered sara
“Are you CEF? Nonplussed? SailerMoon? BytorTheSlowDog?”
++++
Sorry to disappoint, not me.
I expect Chauvin will appeal, 2-3 years defeat the murder charge and be locked up for 10 years on Manslaughter( Peopleslaughter?).
Out in 5 after time served..
IF he isnt killed in prison.
It Flipped? So we will see a reversion to the mean (50% price decline?)
Has supply gone up or demand gone down? Answer: Neither.
@#76 Supreme Court Sara
“He was also found guilty in a court of law. Nice to see everyone was in agreement. Just sayin….”
++++
So I guess you were ok when OJ walked free?
Just sayin.
The Government of Canada (GoC) is facing mounting pressure to do more about home prices. BC-based housing activist Raymond Wong launched an e-petition last week. The petition calls for the Bank of Canada (BoC) to consider home prices when setting rate policy. In less than a week, the petition has enough signatures to be certified and read in parliament.
https://betterdwelling.com/petition-for-bank-of-canada-to-consider-home-prices-and-stop-qe-enters-parliament/?fbclid=IwAR2T41-_UF3PfLvHEVc029cBFDlEjn1mvPWz2HHWENlujBv_iQDNrudqQmM
Chrystia Freeland is a superior intellect.
Probably one of the greatest minds of all time -delivers a politically flawless budget, ensuring that O’Toole and the hillbillies remain in opposition for at least a generation.
You’ve gotta fight for your riot to paaaarrrttyyy…
M46BC
Top 10 Most Expensive Riots in the U.S. Insurance History.
“From California to Washington, DC, coast to coast, various protests and riots unintentionally and intentionally lead to damage. Once this occurs and the dust settles, who foots the bill? Research shows that not only is the insurance industry covering the costs, but so are U.S. taxpayers.
* Since the 1960s, civil disorders have cost the United States billions due to damages.
* Damage costs from civil disorders in the 1960s totaled over 1 billion.
* Los Angles, California alone has incurred a little under 2 billion in damage costs from civil disorders from 1965 to the present.
* America’s most destructive riots occurred in high-population cities.
Our visualization looks at the cost of riots and civil disorders over the last century. The data comes from the Insurance Information Institute and was compiled by Axios. It looks at insured losses to the insurance industry. Anything over $25 million in loss is categorized as a catastrophe. The data is adjusted for inflation.”
Top 10 Most Expensive Riots in the U.S. Insurance History
Date Location Insurance Loss (Current $)
Apr. 29-May 4, 1992 Los Angeles, CA $1.42B
Jan. 6, 2021 Washington, DC $500M-$1B
Aug. 11-17, 1965 Los Angeles, CA $357M
Jul. 23, 1967 Detroit, MI $322M
May 17-19, 1980 Miami, Fl $204M
Apr. 4-9, 1968 Washington, DC $179M
Jul. 13-14, 1977 New York, NY, $118M
Jul. 12. 1967 Newark, NJ, $115M
Apr. 6-9, 1968 Baltimore, MD $104M
Apr. 4-11, 1968 Chicago, IL $97M
https://howmuch.net/articles/top-10-americas-most-destructive-riots-of-all-time
#76 Sara on 04.20.21 at 5:59 pm
“He was also found guilty in a court of law.” My point was – how could he not be? The trial was unfortunately over right after the incident happened.
In my opinion, which matters less than not, there was enough there to have reasonable doubt. I thought his defence attorney, Eric Nelson, did a good job of establishing that.
How stupid are people? If you resist arrest / fight the cops they will shoot you.
#78 Faron on 04.20.21 at 6:15 pm
#57 Sara on 04.20.21 at 5:19 pm
Are you CEF? Nonplussed? SailerMoon? BytorTheSlowDog?
No, CEF has heart despite his snark, Nonplused isn’t as edgy/sharp, SA never as direct unless angered, Bytor possibly, n1tro, Tron Lite, neo, etc all seem likely. Garth probably knows.
———————————
Garth knows, he has your email address. He contacted me once directly over a comment so I know he has access to this information. Unless the poster is using fake emails I suppose.
And yes, Faron, I am not the MN guy, kudos to your keen sense of insight. I guess even a stopped clock is right twice a day. Or as they say in the trading world, “even a blind squirrel finds a nut once in a while”.
I have commented on the Chauvin case even above but always with the same handle. I have posted under other handles but sparingly and usually when I am trying to be funny or sarcastic in a sort of Mark Twain style as best as I can do it. And something has to trigger me. Haven’t done one in a long while though. Some things wear out and one needs to come up with new jokes.
Easter egg: “A free lunch, and nobody working in the kitchen”.
-Food inflation: keep an eye on CORN.US ag ETF ,off to the races.
–We are being trained for the ‘climate’ shutdowns and winding down of travel. Do not doubt it. Locked inside our UN Smart Cities.
Looks like All Of Kanada will be locked down like a prison camp. Don’t call it a reset…
https://haligonia.ca/new-covid-19-restrictions-essential-travel-into-ns-only-280732/
“Effective April 22 at 8 a.m., people from outside Nova Scotia, Prince Edward Island and Newfoundland and Labrador will not be allowed to enter Nova Scotia unless their travel is essential or they are permanent residents of Nova Scotia.”
.Terence Corcoran: Liberal budget marks a major shift toward centralized state planning (national post)
.BC NDP Increases Welfare To Highest Rate In Canada (globalnews.ca)
…..
This person:
https://www.weforum.org/people/jagmeet-singh
Wishes us under a martial law type scenario (Emergency Act) per his Tweet.
https://twitter.com/theJagmeetSingh/status/1384137640539148301?s=19
=== The problem is that Kanadians are docile and naive.
If taken away, handed shovels, forced to dig a trench then lined up in front it our hapless Kanadians would exclaim ‘How nice they are going to be taking a group photo of us’
I am in the process of buying another $500K house in Ottawa, and fully expect the price to double in 2 years. That’s right; you heard me correctly. The house will be worth $1 million in 2 years time giving me an easy $500K profit. Never bet against real estate in Canada!
***BREAKING***
The Smoking Man has been seen at a Tallahassee Burger King drive through.
A visit from Nictonite?
He always claimed he was an alien …
#83 Nonplused
Was innocence of one man with 100B in property damage and social media driven outrage of a nation who have no time to hear facts in this trial?
Then again what does it say of American Justice when it looks like this?
I agree…regarding police. What human with a brain and self preservation
@#82 GTA Sucks on 04.20.21 at 6:55 pm
Big C on 04.20.21 at 2:31
Unbeknownst to me when I moved my family to Tampa Florida from Mississauga in summer of 2019 that It turn out to be one of the best decisions of my life. When I talk to friends & family back home I do not recognize the country I grew up in.
All my friends family would ask me during the pandemic (yes its been over here since the fall or at least it seems that way) if I was coming back now I cant tell you how many of them are asking me about housing prices in Florida as they are looking to get the hell out of Canada.
*********************
BIG C… my email address is [email protected]. We’re considering making the exact same move. I can’t stand Oakville anymore…Can you email me your contact info? Would love to hear what your experience has been like.
–
https://www.neighborhoodscout.com/fl/tampa/crime
#92 crowdedelevatorfartz on 04.20.21 at 7:32 pm
@#76 Supreme Court Sara
“So I guess you were ok when OJ walked free?
Just sayin.”
=============================
How the heck did you come to that conclusion?
Just askin.
#96 Trojan House on 04.20.21 at 7:47 pm
#76 Sara on 04.20.21 at 5:59 pm
“He was also found guilty in a court of law.” My point was – how could he not be?
===============
Exactly. How could he not be? The evidence was quite telling, particularly the video evidence.
You see what I did there? (a second time)
“Pandemics suck. But they’re temporary. And, no, this one is not going to change the world.”
Define Temporary……?
It already has changed the world. Every pandemic, every world war has changed rule of law.
Do you think Zoom and docusign is going away?
My employer – one of the largest and most profitable has already signed contracts with both companies for years of service going forward.
You ain’t seen nothing yet!
I don’t care about the budget, or the Chauvin trial or anything. I got my vaccination today. Bliss!
#100 joseph on 04.20.21 at 7:52 pm
“I am in the process of buying another $500K house in Ottawa, and fully expect the price to double in 2 years. That’s right; you heard me correctly.”
There are houses for 500K in Ottawa?
By next year tear downs in Surrey are going to be hard to find for less than $2 million, get them while they’re hot. Government deficits for the foreseeable future will make sure of that.
Where I am outside YVR, the dumbest people I know think they are geniuses right now based on this market. Some are even doubling down, like we are going to sail even Higher. All of them using the same excuses- “the Gov will never let it go down” and “wait till the borders open and we flood with immigrants and Mericans”
“This time is Different”…. means This must be a Top!
#88 Ponzius Pilatus. on 04.20.21 at 7:19 pm
Re: Chauvin trial.
This was the first time that l followed a real courthouse trial in the States.
I just wanted to see for myself how the system works, rather than having it regurgitated by the Media.
I would not say the guilty verdict was ordained, but it certainly was necessary, first to send a message to law enforcement officers, and second to forestal a catastrophic and violent response that would have seen America burning and many hundreds dead.
I thought, it could have gone either way, but in the end I think the picture of a cop kneeling nonchalantly on a black man’s neck, causing him to suffocate and die while calling for his mother, tipped the scale for even the most hardened juror.
—————————————-
Well, it did send a message to law enforcement. “You cannot arrest certain people if they resist.”
Did the hold kill Floyd? There is another video from a different angle that shows Chauvin was pinning his shoulder, not his neck. It’s called “perspective” in the film industry.
Either way, if you resist arrest things get freaky real quick. They won’t any more though, I expect most cops will take this verdict as meaning they should not arrest anyone who isn’t in the mood.
If I were a cop I would quit. Let the people sort it out for themselves. But I have a guess as to how that will go. Sort of like a soccer game without a ref. It’s called rugby. And even the rugby figured out they needed refs as things were getting out of hand. But with no police left, violence out of control, crime unpunished, the only way left is a militarized national police force like they have in Mexico or totalitarian states. Perhaps this was the goal all along.
————————————-
I went to a Jets game in New York some few years back. Being from Canada and to CFL games where you will see a few police loitering about but not really doing much, I was surprised that every entrance had an officer of some sort with what looked like an AR-15. A serious assault type rifle. And we are suppose to get all upset at a guy who didn’t even pull out his Taser? Maybe he should have Tased him. New rule for the police, those who don’t quit anyway: Do not restrain, Taser, and Taser again. And again. Keep Tasing until the guy crawls into the police car himself.
The federal “Liberals” have to make a response in Parliament:
https://petitions.ourcommons.ca/en/Petition/Details?Petition=e-3327
“Pandemics suck. But they’re temporary.”
Yes but I’m betting the societal and economic changes happening are not temporary, that they are here to stay. What authority ever gives back power? Remember the airport frisking and body scans that began 20 yrs ago were supposed to be temporary too (but the profits were too sweet)
They told us last year, 13 months ago, with Slogans and Newspeak. “We shall win by the use of slogans.”
The New Normal™. Stay Home™. Social Distance™. Staying Apart Keeps Us Together™. Alone Together™. 6uild 6ack 6etter™.
Kanadians got snowcones for brains? You really think your travel rights (as you once knew them) are coming back?
Hey, you found how the magic happens in the market. Price goes up until it finds more willing sellers and fewer buyers so that it comes into equilibrium (for a while at least). The reverse happens when it goes down. Watching weekly or monthly variations is foolish. Same thing happened late spring 2015 (also elections year). Lots of listings, few takers (after a 20-30% move up in prices). Check what happened in 2016.
If you Google the top 15 most dangerous jobs in the US policing isn’t there. You have to expand to top 25 where policing comes in at #22. This is in the US.
One of my significant papers in university was on the emergence of the funeral industry as a result of the Civil War. Mom needed to see her son one last time. Prior to that it was into a box and six feet under on Boot Hill but things changed.
As a prelude side bar to that research I found that the policing in the US, as it transformed from townsfolk appointing a marshal to a more “modern” set up, was predicated on forming police groups to chase down and recover runaway slaves.
Don’t argue with me, Google it and see for yourself.
That historical beginning informs present day US policing in large part due to the systemic racism still in place…the gerrymandering, the red lining, the pushing of people of colour into ghettos.
All you white conservative Canadians laud the US, well move there and find out…police in the US no longer answer to the communities they operate in…they are a force unto themselves.
Chauvin is just a symptom, how any of you can find empathy for him is beyond me.
Being pulled over for a broken tail lamp should not be a death penalty. Holding a red tipped plastic toy gun should not be a death penalty, running away from the police should not be a death penalty.
Police are not part of the Judiciary…they are well paid, union protected employees of the city or state tasked with upholding the law. Period. It never was their job to perform executions on the street, how that has been allowed to happen is shameful.
Oh, I forgot….policing as we know it in the US evolved out of rounding up runaway slaves and if any of them offered any form of resistance they were killed because they were worthless anyway.
For some of you on here they still are I guess.
#105 Sara on 04.20.21 at 8:14 pm
I highly doubt that you watched even one minute of the trial to say “The evidence was quite telling, particularly the video evidence.” If you had watched the trial, you would know that the defence lawyer raised reasonable doubt as to what was seen in the video evidence. Which leads me to believe you don’t quite understand what the meaning of reasonable doubt is.
I’m just guessing but you probably thought he was guilty last June.
#88 Ponzius Pilatus. on 04.20.21 at 7:19 pm
“I thought, it could have gone either way, but in the end I think the picture of a cop kneeling nonchalantly on a black man’s neck, causing him to suffocate and die while calling for his mother, tipped the scale for even the most hardened juror.”
That’s what I was saying in previous posts to “Sara” about reasonable doubt. Another angle off of one of the other officer’s body cameras shows that Chauvin’s knee could have been on Floyd’s shoulder area (in fact, the prosecution later referenced Chauvin’s knee being in Floyd’s “neck area”). Also, it was raised in the trial that he was referencing his girlfriend who he called “Mama” and not his actual mother. Not to mention the State’s own use of force expert was better for the defence regarding the so-called “neck restraint.”
Anyway, all moot I guess since he was found guilty on all charges so the riots are avoided (at least until next time).
Consider vaccination as your number one priority. Nothing else matters since non of us can enjoy our freedoms anyways, so…
Please give me my life back along with yours. Thankyou!
Not long ago, there was a realtor that put a blog entry in very similar to this. The realtor was describing the end of the real estate craze of the late eighties in the GTA. I have no doubt that person was really there.
Same thing – just all of a sudden the phones went silent.
If that realtor is reading this, can you repost that blog entry? The description of the aftermath of that week was quite vivid. 15 years of purgatory.
#109 – more realtor spin
#97 Yukon Elvis on 04.20.21 at 7:47 pm
How stupid are people? If you resist arrest / fight the cops they will shoot you
—
Sure, but many times more frequently if you are black in the US. There’s ample footage of white dudes resisting and getting whooped by cops (if anything) when in identical circumstances, a black person was shot. And this is but the thinnest edge of non-lethal harassment of black and brown people by cops. The undue attention paid by police to peoole of colour makes any kind of apparent resistance all the more likely.
Socks was bragging on Twitter that he bought more vaccine, and there are many (many) tweets begging him taking over Ontario since FordNation is dying ontario. True, leaders are elected by the people! Stupid people elected stupid leaders!Disappointed.
What did Socks do to get Canadians back to normal life? NONE! He always said politically right but meaningless and useless things, but actions? NONE! Did he stop flights from the country-you-know-which? Did he have a plan on how much and how to send money and to whom? Did he ever talk about the huge debit which several generations of Canadian are living on? did he have a plan?
back to housing market, I am sorry, but Garth, I think you will be wrong again this time. The market will keep going up, it is already too-big-to-fail! Trading houses is the only thing our Canadians are good at. Nothing will stop the housing market going up. The only possible one is a 10% mortgage rate, but that will NEVER happen in our life-time. Why? too-big-to-fail, all level of governments, most of our Canadians are deep in the water, no one has the gut to increase the rate!
Inflation? No, that number will never be more than 2%, it is a calculated and controlled number.
rates going up->stock market / house market crash -> CBs print more money to rescue->rates going back down!
Realtor friend in Victoria suggests the same: transactions have slowed significantly this month. Another interesting anecdote is that half of buyers during craze already had one or more homes.
#174 Faron on 04.20.21 at 12:10 pm
#165 Ponzius Pilatus on 04.20.21 at 10:36 am
#145 Nonplussed
Anyway great day for NASA and a sad day for comments sections everywhere.
———————-
There are many people, including myself, who think that cleaning up our planet is more important.
—
Had a great discussion about this with some friends last night. A massive amount of resources have been dumped into the space program and there have been many many side benefits. My view is that, had the superpowers decided that some other avenue was important, we would have had the same number of innovations and accomplished whatever it was that we set out to do and because the target was presumably here on earth there would have been much wider societal benefit.
As a scientist, I support unfettered investigation into all avenues because, channelling Rumsfeld, we don’t know what we don’t know until we know it. But, the choice of space was a purely military objective and somewhat arbitrary and, in my view, unfortunate. Perhaps because the heavens are captivating, shooting rockets was inevitable, but I’m too cynical to believe it was anything more than a pissing match in the ’50s and ’60s that needed a scientific justification at later stages.
—————————————
Not arguing any of that but the Apollo missions cost about the same as American women spent on cosmetics during the same period. $87 million for a little drone seems like a lot but hey. Drop in the bucket really.
I’m also a big fan of things like the Tyrell Museum and they require government support too. Although you wouldn’t think so given how busy that place can be.
Gee.
Not just the federal Liberalistas increasing the tax burden.
BC NDPistas new 2021 budget numbers make the financially observant ….cringe.
Covid spending.
$3 billion to hand out and $3 billion set aside.
$100 million for tourism.
$9.7 billion deficit 2021-2022
Debt growing natch…….
Cullen Commission BC Money Laundering update.
Former Preem Christy Clark smiling, joking and dancing around questions today.
Disputed the Liberal govt didn’t take action.
She told the commission she didn’t know about suspicious funds being brought into casino cash cages .
She didnt know betting limits in casinos were raised to $100,000 PER BET.
She testified suspicious cash amounts dumped at cash cages wasnt brought to her attention until 2015….4 YEARS after the original report warned about money laundering…..
Essentially she didnt know what the Opposition, media, the police, the Crown Prosecutors, everyone else was talking about for years before she became Preem…….
Stay tuned.
More ministers and eventually Rich Coleman former Minister of Alcohol and Gaming gets his day on the hot seat soon.
We might be at an inflection point as the Kijiji dog index has shown prices have stopped going up and more people are listing their older puppies to have them rehomed.
I think housing activity has died down mainly due to the new lockdown restrictions. But all the people who were desperate to move have moved (and bought dogs) and those who were thinking of moving are starting to realize life will return to normal just as it is starting to in Europe and the US, so moving too far away from work may not be a great idea – unless you enjoy driving 2 hours one way in traffic to your office each day.
#83 Nonplused
This got posted in a version I didn’t proof read. Forgive. Let me try again….
Was innocence of one man worth 100B in property damage and social media driven outrage of a nation who have no time to hear facts of this trial?
Then again what does it say of American Justice when it looks like this?
I agree…regarding police. What human with a brain and self preservation wants to be a police officer now? And if the quality of applicant goes down because it just isn’t worth it for those above a certain IQ, what will that do to our collective safety and quality of policing in general? Who will protect communities then?
Or maybe that’s the point…to make us all feel less safe?
Harbinger II ?
https://bc.ctvnews.ca/massive-fire-in-langley-destroys-condo-towers-under-construction-dozens-evacuated-1.5394437
Harbinger I
https://www.castanet.net/news/Kelowna/330090/Fire-crews-responding-to-massive-fire-at-Glenmore-construction-site-in-Kelowna
1980’s redux?
https://toronto.ctvnews.ca/ford-absent-from-ontario-legislature-for-second-day-as-critics-openly-call-for-his-resignation-1.5395187
last sighting was at Wendy’s drive thru……
Chauvin guilty. Riots averted (for now).
…………
lol. Was a no brainer ; no rioting, insurance companies win and less spread of the little bug , folks stay home
was a lock
#112 Doberman on 04.20.21 at 8:33 pm
The federal “Liberals” have to make a response in Parliament:
https://petitions.ourcommons.ca/en/Petition/Details?Petition=e-3327
———————————–
less than 1000 Canadians signed this one, asking for financial responsibility, in 7 days.
The petition for reopening golf courses in Ontario got more than 15,000 people signed, in 1 day!
What a great job, Canadians!
#32 Faron on 04.20.21 at 3:41 pm
#22 MN vs. Chauvin on 04.20.21 at 3:15 pm
Alan Dershowitz
—
He’s a class act, that Alan.
—
Do you doubt his US Law I.Q.?
What does his record look like as a lawyer? Win much?
125 crowdedelevatorfartz on 04.20.21 at 9:30 pm
Cullen Commission BC Money Laundering update.
Former Preem Christy Clark smiling, joking and dancing around questions today.
Disputed the Liberal govt didn’t take action.
She told the commission she didn’t know about suspicious funds being brought into casino cash cages .
She didnt know betting limits in casinos were raised to $100,000 PER BET.
She testified suspicious cash amounts dumped at cash cages wasnt brought to her attention until 2015….4 YEARS after the original report warned about money laundering…..
Essentially she didnt know what the Opposition, media, the police, the Crown Prosecutors, everyone else was talking about for years before she became Preem…….
Stay tuned.
More ministers and eventually Rich Coleman former Minister of Alcohol and Gaming gets his day on the hot seat soon
*******************
Her testimony was at best baffle jab with blatant jibber jabber thrown in to razzle and dazzle the audience with ill logic. Like watching Micheal Scott but not funny at all.
A real piece of work. Tip of the iceberg?
#121 Faron
Get over yourself! Colour has nothing to do with respecting the law. Enough of this woke “ woe is me “ nonsense. Ridiculous! Time to grow up, man up and brush the chip off your shoulder! This victim mentality of the left which you have embraced, could quite possibly be your ruin .
Sara
MN vs. Chauvin
It’s all about sides, I guess. Stay divided. Keep playing into their game. It’s all about keeping us atomized and anxious while the rich make off with everything they can get their hands on as the Titanic sinks.
Stressed out police officers (on both sides of the border) who have lost faith in the system they have sworn to serve. Young black (and white) men hopped up on drugs and violence (that has been injected artificially into their communities by the rulers). There can be no victory here. There is no justice in mob mentality.
We are losing our minds. The crystal ball foretells of a very, very negative outcome for this continent.
After everything that happened in the 20th century – we still have sides bickering vehemently at one another about every thing they have put in our heads to keep us divided?
There is no difference between any of us – there is just an endgame that none of us are going to enjoy.
C’mon brothers and sisters….happy 420!
https://www.youtube.com/watch?v=GyPMc38Q5Bc
“Let’s get together and be alright!”
The headlines today are like some tumultuous return to the 1960s’. A ‘Time Warp’ of sorts.
Race relations, police violence, planetary landings of one sort or other, obscene government spending to solve many problems that should be under regulation of personal responsibility. Societal norms subject to severe scrutiny and interrogation by those who feel ‘enlightened,empowered, and determined in their pursuit of correcting any ‘insubordinate or contrary views’ by throwing shade, money and legislation at the problem as a ‘cure’. ‘Cue’ the mainstream media for a full force gale. What a crashing bore. And the consequences will be dire.
What to do? We’ll all decide in our own way, I suppose. A low profile, a plan ahead, and unrelenting focus on short and long term goals seems obvious. But this isn’t a temporary transition with a return to the past. Never has the US Marine motto ‘Adapt, Improvise and Overcome. ‘ seemed so timely. Guess we’ll see who has the material to become that ‘Marine equivalent’ with the challenges ahead we will all face. Mercy and Amen.
As Joni Mitchell wrote:
“Don’t it always seem to go
That you don’t know what you’ve got till it’s gone
They paved paradise, put up a parking lot”.
And finally a challenge to Mr. J Garth Turner: ‘Cats are evil.’
I beg to differ, sir. They are tremendous friends, family members, and a comfort to many, including historical figures like Winston Churchill who accomplished a few minor things during his time on the planet. He loved his cats.
I dare you to run a ‘survey’ of your blog readers and bog contributors to see just how many avid fans you have who support and shelter ‘feline members of the household’. We could all use the break and laugh.
Put me down as having neither, but loving both.
I guess ‘bog’ was supposed to be “poll”. Not a good proof reader…
#88 PP
“I would not say the guilty verdict was ordained, but it certainly was necessary, first to send a message to law enforcement officers, and second to forestal a catastrophic and violent response that would have seen America burning and many hundreds dead.”
………………………………………………………………………………………………………
You can already see from the GF case these past months with officers on trial, crime on the rise in America and youth emboldened more than ever to resist police interaction even aggression.
The guilty verdict is a green light for crime to explode on the streets here as cops take a much subdued approach to policing now.
Seen it all before.
… (as always)… might is right in the streets.
That won’t change.
Re; #125 crowdedelevatorfartz on 04.20.21 at 9:30 pm
‘Former Preem Christy Clark smiling, joking and dancing around questions today.’
++++++++++++++++++++++==
It’s all a joke to her. Does she know something we don’t?
Disgusting display today, a mockery of justice on her behalf. She might as well have been on her talk show speaking with a listener, waxing nostalgic on the bread and roses lifestyle she ‘gave’ her minions.
It was all about her.
And how come she is done testifying, Cullen said they weren’t going to call her back?
This is all appearing to look exactly like the Guido Campbell era (start of casino dirty money) and his broken promise of NOT selling BC Rail before his election. Then first chance he got, he sold the profitable rail line to his college roommate, Hunter Harrison, at the time, CN Rail CEO and chaired by BC Liberal bagman David McLean, when all involved thought CP Rail was the better fit.
A precursor of the rape of BC taxpayers and BC Rail employees, with 430 of them getting the boot.
https://www.straight.com/article/police-raids-and-bc-rail
https://www.theglobeandmail.com/report-on-
business/cn-buys-bc-rail-for-1-billion/article1169469/
https://thebreaker.news/news/basi-virk-tax-trouble/
The BC Rail fall guys, Basi and Virk, got house arrest, their $6 million lawyers’ fees paid, and an investigation into marijuana grow-ops run by the relatives on Vancouver Island, dropped.
A 2 fer 1.
#110 we are going to accelerate higher for at least another 3-5 years. Thats great news for both our businesses, cheers.
#121 Faron on 04.20.21 at 9:19 pm
#97 Yukon Elvis on 04.20.21 at 7:47 pm
How stupid are people? If you resist arrest / fight the cops they will shoot you
—
Sure, but many times more frequently if you are black in the US. There’s ample footage of white dudes resisting and getting whooped by cops (if anything) when in identical circumstances, a black person was shot. And this is but the thinnest edge of non-lethal harassment of black and brown people by cops. The undue attention paid by police to peoole of colour makes any kind of apparent resistance all the more likely
————————–
Sorry I did not correct your spelling mistakes as advised by the Garth spell checker.
Fact is many more whites die by cop than blacks. It is only the percentage they are using. When a white dies by cop, it is assumed he is a gang member bad guy with a rap sheet as long as his arm. So nobody cares. Of course when a black man with a rap sheet resist arrest and thus dies, it is the horror of RACISM! Strangely nobody ever talks about the Asians that get killed while resisting arrest. Know why? Because they don’t. Not that Asians don’t have gangs, they just know better than to resist arrest.
PS I am sure it has happened, and maybe you can all point me on to the stories. But I would like to see the last time there was an Asian man or woman killed while resisting arrest. It is a black and white thing.
Oakville rocks;
Guilty on all three – WOW!
I thought they would pass on murder and find him guilty of manslaughter. A police officer guilty of murder – wow.
—————
Almost happened in TO.
In 2013, Forcillo guns down a kid in an empty streetcar with nine rounds. Convicted of attempted murder in 2016. Sentenced to 6 years. Appeal rejected. Served from Nov 2017 to Jan 2020, then full parole. Total??? 2 years , 3 months in jail.
https://www.cbc.ca/news/canada/toronto/james-forcillo-sammy-yatim-parole-1.5434443
re: Floyd death. Ironically, the prosecution was thanking all the lawyers that helped get a guilty verdict. Prolly 50 of them. Politicians tossing out inflammatory comments, fear of riots, and juror retaliation; Chauvin didn’t stand a chance. Mind you, I still can’t see the reason for the 9+ minute pin down.
“The world is suddenly too volatile and unpredictable to merrily mortgage your soul.”
……………………………………………………………………………………………………..
Absolutely damn right.
And that’s got to be the greater fool blog line of the year by our author.
There is a fifth factor to consider. There are still 300,000 Canadians under pressure to resume deferral payments from an estimated 800,000 deferrals last year. Without gov. intervention soon (end of this month) many more listings could be added to the mix.
119 BC Wally
Not long ago, there was a realtor that put a blog entry in very similar to this. The realtor was describing the end of the real estate craze of the late eighties in the GTA. I have no doubt that person was really there.
Same thing – just all of a sudden the phones went silent.
If that realtor is reading this, can you repost that blog entry? The description of the aftermath of that week was quite vivid. 15 years of purgatory.
_____________________
Yes BCWally I can.
It was April in the late 80s in what should have been the hottest months of the year for house buying coming up. The market was wild. Folk were paying $3000,00 for Scarboro bungalows that they had not viewed inside, just walked around. Listing agents were holding keys back hoping to double deal. Offer nights, wild bids, no conditions – just like today.
I had a bad feeling about 2 weeks before and sold my own house with a fast close at the top of the market to someone who made their living from telling the future!
The phones went quiet, then they went silent.
Clients were caught in many ways:
Buys didn’t appraise.
The old house didn’t sell even though they had brought the new one with no conditions.
Clients were stressed out of their minds and cried.
I started to cry on their behalf.
Clients refused to get in front of the market with price drops as only the cheapest option sold.
Deals started to fall through and buyers walked away from their deposits or we had to return them to ensure that the second sale was valid.
It was a total beep beep nightmare.
It took about15 years for prices to recover and I got out of the business for my health, got a PhD and started lecturing at a university in Marketing. You see not all estate agents are stupid!
#98 Nonplused on 04.20.21 at 7:48 pm
Easter egg: “A free lunch, and nobody working in the kitchen”.
==============================
It’s been far too long since we’ve seen some sage words of economic wisdom. I assume he’s been too busy advising Freeland and Co.
#8 Dogman01 on 04.20.21 at 2:39 pm
When you think about the budget remember just a few years ago Trudeau said “Veterans are asking for more than what the country can give ”
“One of the most striking aspects of the pandemic has been the historic sacrifice young Canadians have made to protect their parents and grandparents.” – Chrystia Freeland
4 Years of your life fighting an intransigent German Army = Historic Sacrifice of young Canadians.
8 months collecting CERB and playing video games in your parents basement = a significant annoyance.
Puffery
——————————–
I agree that it’s ridiculous to compare young Canadians in lockdown at home to soldiers.
But let’s be honest. If this virus had occurred in the 1970s, the Boomers would have never given up a year of their young lives. They wouldn’t have cared one iota about the impact to their parents’ and grandparents’ generations (both of whom actually did fight in wars).
#66 Trojan House on 04.20.21 at 5:30 pm
#57 Sara on 04.20.21 at 5:19 pm
Of course he was guilty! He’s been guilty in the court of public opinion since it happened. I’ve been following the trial and basically there was enough reasonable doubt to find him not guilty on all charges.
I would be surprised if he doesn’t appeal but he probably doesn’t have enough money to do so.
—————————————–
The 2nd degree murder conviction was particularly ridiculous. That would mean that, although the death wasn’t premeditated, the officer was trying “in the moment” to kill George Floyd. Really? People actually believe the officer was trying to kill the man in broad daylight with witnesses and smartphone cameras everywhere?
It’s absurd. 3rd degree manslaughter I can accept.
#140 Nonplused on 04.21.21 at 12:59 am
#121 Faron on 04.20.21 at 9:19 pm
#97 Yukon Elvis on 04.20.21 at 7:47 pm
Sorry I did not correct your spelling mistakes as advised by the Garth spell checker.
Fact is many more whites die by cop than blacks. It is only the percentage they are using. When a white dies by cop, it is assumed he is a gang member bad guy with a rap sheet as long as his arm. So nobody cares. Of course when a black man with a rap sheet resist arrest and thus dies, it is the horror of RACISM! Strangely nobody ever talks about the Asians that get killed while resisting arrest. Know why? Because they don’t. Not that Asians don’t have gangs, they just know better than to resist arrest.
—
Look up proportionality, Nonplused.
https://www.pnas.org/content/pnas/116/34/16793/F1.large.jpg
Black people are about 3 times more likely to be killed by police than white people are. A larger number of white people die simply because there are more white people in the US than black. For the love of pete, DUH!
Then look up racial profiling. Black people are racially profiled in vastly greater numbers than white or Asian people. Go read u’s post and maybe brush up on the looooong long long history of racism in America and then work on racism toward Asian people and, bonus points if you delve into the black/Asian animosities (enter Andy Ngo). I venture that you are clueless regarding most of those dynamics.
Here’s a fun one. White cops are four to five times more likely to use force in a 80%+ black neighbourhood than black cops are. That’s utterly damning.
https://www.nature.com/articles/d41586-020-01846-z
Finally, it’s pure FUD to bring up the deceased’s criminal record unless they have a violent past especially unless they have a recent violent past. George Floyd’s only violent charge was aggravated robbery 13 years before his death. Does his drug addiction make it okay for police to kill him? Does it make him worth less? What is much more relevant is Chauvin’s 2017 kneeling on a 14 y.o. kid’s neck until that kid lost consciousness…
Suburban, milquetoast garbage as usual from you.
To all the Boomer-Cons who voted in Doug Ford, can you finally see what a complete twit he is?
Peel, Toronto and even Ottawa-area police are completely rejecting his idiotic measures, effectively creating a province-wide vote of non-confidence.
https://ottawa.ctvnews.ca/ottawa-police-stop-24-7-monitoring-of-interprovincial-border-crossings-1.5395506
https://www.bnnbloomberg.ca/toronto-peel-to-order-temporary-closure-of-businesses-with-recent-covid-19-outbreaks-1.1592786
And now Ford is “isolating” since a staffer “had a positive test” for COVID.
Hmm….so he can step away from all the experts calling for his resignation this week and not show up in the house.
How convenient!
And rumour has it they are finally “mulling over” the concept of sick pay, something needed over a year ago.
https://ipolitics.ca/2021/04/20/ontario-considering-paid-sick-leave-after-months-of-pressure/
The absolute disrespect, and hatred shown by Boomer-Cons towards millennial workers is despicable.
Change is coming, folks.
Be part of it.
Or be run over by it.
Great. Just when we thought it couldn’t get any
worse…
https://pressreader.com/article/281509344023920
@#128 Harbinger
“1980’s redux?”
++++
Yep.
There’s been a few small construction sites burn over the past few months but these big ones are possibly a sign of things to come.
@#136 The Jag
“I dare you to run a ‘survey’ of your blog readers and bog contributors….”
+++
I definitely fall into the bog category
Gee.
The World Bank has lifted it’s 10 year Ban on SNC Lavalin…. (bidding on World Bank funded contracts due to corruption convictions)… a few years early.
Whats up with that?
The banksters worried about something or has the Covid lockdowns shrunk their money pot?
I wonder if Chauvin will be out on day parole in under 2 years like Forcillo in Toronto was?
It’ll be interesting to see how tactics change thanks to this case. If I were a Cop – there’s no way I’m using any kind of restraint on an unarmed perp who is resisting/not co-operating from here on in.
What happens if the perp is black and somehow dies? What if the jury then decides I *meant* to kill the guy? Could I be found a murderer even if the restraint employed was a standard issue hold that every cop on the force learns in the academy, and then uses on the job? I can only imagine the mental math US cops are doing right now. This is a 30-40K job in most states.
I’d ideally like some non lethal way to render the perp totally unconscious so I can put the cuffs on him and chuck him in the cruiser without a 45 minute circus act for the cell-phone pointing crowd that will always be present filming.
Cough! Cough! Cough!
Excuse me folks as I ..cough!..cough!..barge in here, only 3 comments so far today but I will…cough!…cough!…try to add a bunch more because as you know, I am so very…cough! cough!….important!
no garth :( this time its different!
#150 Faron on 04.21.21 at 6:57 am
Black people are about 3 times more likely to be killed by police than white people are. A larger number of white people die simply because there are more white people in the US than black. For the love of pete, DUH!
___
If more total whites die at the hand of cops, why the noticeable disparity in cases prosecuting cops for killing blacks vs whites?
If the proportions of whites and blacks killed by cops in the USA were identical – do you think folks would then accept that level of blacks being killed by cops?
Alaska Natives, American Indian, and Latino Men also have a much higher likelihood of being killed by cops than whites. How do you explain the lack of coverage for these groups compared to blacks.
I have a few quick question about bank mutual fund people.
Recently I was thrust into a responsibility role with the family finances. I noticed that my parents have a fair bit invested with different mutual funds that were sold to them by bank mutual fund people. so my questions…
1) I don’t use these people. I have been fairly successful on my own just buying ETFs. Can I just take the money and buy a balanced set of ETFs and say screw you guys and your commission?
2) Are these bank branch mutual fund people idiots who just push what products their bosses tell them to? They don’t seem to have a breadth of knowledge.
#148 Howard on 04.21.21 at 5:17 am
I agree that it’s ridiculous to compare young Canadians in lockdown at home to soldiers.
But let’s be honest. If this virus had occurred in the 1970s, the Boomers would have never given up a year of their young lives. They wouldn’t have cared one iota about the impact to their parents’ and grandparents’ generations (both of whom actually did fight in wars).
———————————–
I’m 75, I never voted to sacrifice our younger citizens for my safety. I’ve had my life (a good part of it anyway)
I’ll take my chances, the kids need to get on with their lives.
#150 Faron on 04.21.21 at 6:57 am
Suburban, milquetoast garbage as usual from you.
================================
And small-town, condescending pseudo-science garbage as usual from you.
It’s actually kind of nice, the comforting predictability of your biases. Like old sneakers, reassuring familiar. The blog’s very own dollar store Tucker Carlson of the left.
It will be a sad day when you lay down your cross for good.
Translation. If you though bond buying would end-you are wrong. This is what happens when you have unlimited ability to print and we the general public believe….now they will hit a wall….ok….now they will hit a wall……ok (repeat). And continue to be wrong for years to come. How long. Nobody knows. Which is the point.
The Bank is continuing its QE program to reinforce this commitment and keep interest rates low across the yield curve. Decisions regarding further adjustments to the pace of net purchases will be guided by Governing Council’s ongoing assessment of the strength and durability of the recovery. We will continue to provide the appropriate degree of monetary policy stimulus to support the recovery and achieve the inflation objective.
#148 Howard on 04.21.21 at 5:17 am
“But let’s be honest. If this virus had occurred in the 1970s, the Boomers would have never given up a year of their young lives.”
Yes, every single person born between 1946 and 1965 had exactly the same life experience and would act exactly the same way.
Give your head a shake Howard. Generalizations and stereotyping of groups of people based on immutable characteristics is so 1960.
#151 Millennial Realist on 04.21.21 at 8:19 am
The absolute disrespect, and hatred shown by Boomer-Cons towards millennial workers is despicable.
Change is coming, folks.
Be part of it.
Or be run over by it.
___
Boomers and Gen X’ers are dancing in the streets thanks to Trudeau’s policies, so they may get hit by something yet! But, it’ll probably be the Brinks truck they ordered in to deposit their insane RE windfall into the Bank.
I know you like to fantasize on here about a day of salvation for the Millennials. But, I hope you realize at the same time – reality says you’ve never been more ****** than you are right now.
Heaven forbid the Trudeau Liberals get a majority next election. They’ve done SO MUCH damage to youth, single earners, and unsupported newcomers already.
How much more can you guys take?
Stock up on necessities and take shelter.
Why Canada sucks right now:
“Hard times create strong men. Strong men create good times. Good times create weak men. And, weak men create hard times.”
― G. Michael Hopf, Those Who Remain
We are currently under the leadership (or lack thereof) of weak men. Hence, hard times.
Out of this horrible mess, strong men will eventually emerge.
The good times will return, eventually.
Hang in there.
York U prof calling housing bubble in Toronto: https://www.msn.com/en-ca/money/topstories/george-fallis-it-s-a-housing-bubble-in-toronto-not-a-supply-squeeze/ar-BB1fTuMq?li=AAgh0dA&ocid=mailsignout
Correct or not, time will tell.
# 94 PMO Sycophant. “Chrystia Freeland is a superior intellect. Probably one of the greatest minds of all time -delivers a politically flawless budget, ensuring that O’Toole and the hillbillies remain in opposition for at least a generation.”
Uhhh Freeland. Brilliant, sure ok. You PMO short pants kiddies earnestly fabricate fantasies in the face of reality. Spin machine on high cycle for this excrement.
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https://thepostmillennial.com/former-senior-trudeau-advisor-blasts-new-budget
#167 Dharma Bum on 04.21.21 at 10:47 am
Why Canada sucks right now:
“Hard times create strong men. Strong men create good times. Good times create weak men. And, weak men create hard times.”
― G. Michael Hopf, Those Who Remain
We are currently under the leadership (or lack thereof) of weak men. Hence, hard times.
Out of this horrible mess, strong men will eventually emerge.
The good times will return, eventually.
*****************************************
Good times will return, but it’ll take 2 or 3 generations. The millennials will never see it.
#163 T on 04.21.21 at 10:11 am
Translation. If you though bond buying would end-you are wrong. This is what happens when you have unlimited ability to print and we the general public believe….now they will hit a wall….ok….now they will hit a wall……ok (repeat). And continue to be wrong for years to come. How long. Nobody knows. Which is the point.
The Bank is continuing its QE program to reinforce this commitment and keep interest rates low across the yield curve. Decisions regarding further adjustments to the pace of net purchases will be guided by Governing Council’s ongoing assessment of the strength and durability of the recovery. We will continue to provide the appropriate degree of monetary policy stimulus to support the recovery and achieve the inflation objective.
*********
“Bank of Canada Pares Bond Purchases, Sees Rate Hikes Earlier” via bloomberg.
Also, I saw Christy testify today. I don’t like her. However, she made a good point that the current government does not have much different policy than what her gov had in place. I mean really, what has the NDP done to combat laundering? Any arrests? Are house prices stable? Nope. Sounds like the whole thing was more politicized for election reasons
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Perhaps some simple research is required here. That or you csn just take her at her slippery words.
#165 IHCTD9 on 04.21.21 at 10:31 am
“Boomers and Gen X’ers are dancing in the streets thanks to Trudeau’s policies”
Quit with your generalizing will you please.
#164 Sara on 04.21.21 at 10:17 am
Generalizations are born from general truths. It doesn’t mean that every single member of a cohort conforms to the generalized norms of said cohort.
One can never prove a counterfactual, but I have a hard time imagining that young Boomers would have willingly, and without intense complaint and protest (violently, if needed), locked themselves up for a year as a kind gesture to their elders. That would be completely uncharacteristic behaviour of a generation that had little respect for authority.
In the same vein, I’m not surprised that Mills meekly did as they were told, which is not a very admirable quality.
#159 IHCTD9 on 04.21.21 at 9:47 am
#150 Faron on 04.21.21 at 6:57 am
If more total whites die at the hand of cops, why the noticeable disparity in cases prosecuting cops for killing blacks vs whites?
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Maybe because black people killed by police are almost twice as likely as white people to be unarmed? Read that Nature article.
And, yes, it’s an issue so it’s going to garner additional attention. That doesn’t mean it’s not a serious problem that first nations and latinx people are also over-targeted.
#162 BillyBob on 04.21.21 at 10:02 am
#150 Faron on 04.21.21 at 6:57 am
—
I’m happy to lighten an out of work pilot’s day.
And I can back up my stance with numbers. Nonplused backs his stance with hand waving and speculation.
It’s also not your fight.
#116 Trojan House on 04.20.21 at 8:46 pm
#105 Sara on 04.20.21 at 8:14 pm
I highly doubt that you watched even one minute of the trial to say “The evidence was quite telling, particularly the video evidence.” If you had watched the trial, you would know that the defence lawyer raised reasonable doubt as to what was seen in the video evidence. Which leads me to believe you don’t quite understand what the meaning of reasonable doubt is.
I’m just guessing but you probably thought he was guilty last June.
_____________________________________
He was guilty as soon as the video cameras rolled.
There was absolutely no reason for 2 cops to be kneeling on a guy for 9 minutes while he is face down with hands cuffed behind his back. What ‘threat’ did he pose from that position?
Policing as we know it will change. The days of the intimidating, ‘warrior’ cop without a psychology degree are coming to an end.
I to am noticing there are more listings here in the Lower Mainland in BC. Now, if there are more listings you’d think the prices will drop. Haven’t seen it yet, but, will wait a little longer. Have been checking out realtor.ca daily, and some home prices have either gone up, or were just taking off MLS. And, profoundly some nice homes are STILL listed and haven’t sold. Well, these silly asking prices are the problem. The budget reading really didn’t do much to help the real estate prices, why kill the goose that lays the golden egg!!!
#156 IHCTD9 on 04.21.21 at 9:16 am
I’d ideally like some non lethal way to render the perp totally unconscious so I can put the cuffs on him and chuck him in the cruiser without a 45 minute circus act for the cell-phone pointing crowd that will always be present filming.
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Tasers. They have them.
This is good:
“…and then uses on the job?”
For nearly ten minutes, long after the guy stopped breathing? Have you ever noticed that you can tell when people you are putting weight on are breathing? Good thing Chauvin practised on the 14 year old.
#159 IHCTD9 on 04.21.21 at 9:47 am
How do you explain the lack of coverage for these groups compared to blacks.
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In case you haven’t noticed, there is a very long standing racial tension between black and white people that doesn’t have parallel with Asian Americans or Latinx in the US. With first nations it’s a different dynamic equally problematic. As a Canadian, I wouldn’t expect you to have a “sense” for this just as there are probably many things I don’t have a “sense” of here.
#173 Sara on 04.21.21 at 11:41 am
#165 IHCTD9 on 04.21.21 at 10:31 am
“Boomers and Gen X’ers are dancing in the streets thanks to Trudeau’s policies”
Quit with your generalizing will you please.
—
But Sara, then the entirety of internet social media would simply collapse ;-)
#175 Faron on 04.21.21 at 12:14 pm
And, yes, it’s an issue so it’s going to garner additional attention. That doesn’t mean it’s not a serious problem that first nations and latinx people are also over-targeted.
———-
I am Hispanic and have never been targeted.
Also, don’t use the latinx label, it is an offense to Spanish.
#95 Flop… on 04.20.21 at 7:47 pm
You’ve gotta fight for your riot to paaaarrrttyyy…
M46BC
Top 10 Most Expensive Riots in the U.S. Insurance History.
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Five out of those top ten occurred in April or May.
I guess spring is when the rioters come out of a long hibernation. Who knew?
#173 Sara on 04.21.21 at 11:41 am
#165 IHCTD9 on 04.21.21 at 10:31 am
———
“Boomers and Gen X’ers are dancing in the streets thanks to Trudeau’s policies”
———
Quit with your generalizing will you please.
———
I’m not big on labels, but do fall under the age demographic known as ‘X’.
I definitely dance in the streets with bags of cash. Sometimes throwing cash while dancing. Like this:
https://www.storyblocks.com/video/stock/young-happy-businessman-dancing-and-throwing-money-slow-motion-successful-business-or-winning-the-lottery-rav1spwdejt8le69o
Please ban Faron’s IP, just for a little while? Give us all a break. Thanks!
#177 TheDood on 04.21.21 at 12:19 pm
Dood, c’mon! In Canada and the US there is something called “innocent until proven guilty.” So by your logic, everyone is guilty regardless.
A lot of stuff came out in the trial like the fact that Floyd had 3 times the overdose limit of fentanyl in his body. He also had an enlarged heart. He was also on methamphetamine. None of the cops that responded, including Chauvin, would have known this. The crowd that gathered were also starting to get angry. There is probably so much going through the cops’ minds and they have to make second by second decisions.
I’m not saying the verdict was right or wrong but when we convict someone before that person has the right to defend themselves in court, that is a slippery slope that I don’t think we don’t want to go down.
#179 Faron on 04.21.21 at 12:37 pm
In case you haven’t noticed, there is a very long standing racial tension between black and white people that doesn’t have parallel with Asian Americans or Latinx in the US. With first nations it’s a different dynamic equally problematic. As a Canadian, I wouldn’t expect you to have a “sense” for this just as there are probably many things I don’t have a “sense” of here.
———
Correct. It is a sense of the variety known as ‘common’ that often escapes you.
For one example, one standard of common sense is to not presume to speak for other ethnicities. It irritates them, as your statement above irritates me… you know, me being Hispanic and all.
#177 TheDood on 04.21.21 at 12:19 pm
By the way, Dood, I forgot to mention, what if GF had just not resisted arrest and gotten into the cop car as instructed? If he had done that in the first place, none of this would have happened.
#173 Sara on 04.21.21 at 11:41 am
#165 IHCTD9 on 04.21.21 at 10:31 am
“Boomers and Gen X’ers are dancing in the streets thanks to Trudeau’s policies”
Quit with your generalizing will you please.
____
That’s called an expression of speech homie.
Like when folks say: “It’s hotter than hell out there!”
Ya dig?
#174 Howard on 04.21.21 at 12:07 pm
#164 Sara on 04.21.21 at 10:17 am
“Generalizations are born from general truths. ”
Sometimes yes, sometimes no, but when directed towards groups of people (women, men, gays, blacks, boomers…etc) they ALWAYS create division and trigger hate.
What a dogawfully ugly mutt.
I hate to be one of “those” millennials, but can I please just say it once?
Real estate prices – “to the moon!!”.
#179 Faron on 04.21.21 at 12:37 pm
___
Tasers have killed too. If I were a cop, I’d rather quit being a cop than risk possible murder charges someday, somehow for using one of those things.
Yes 9 minutes is long, and likely not part of the protocol (but you and I don’t actually know that). I was not talking about Chauvin’s actions, I was talking about the mental math US cops are likely working through as we speak. What Chauvin did, similar might have been done by 90% of all cops out there at one time or another, just without any injuries/death… All it takes is once.
Regarding long standing racial tensions: Do you think that if Black areas were Policed exclusively by Cops who are POC, that a difference in qty of black deaths by cop would be the result?
If Blacks and Whites were killed by Cops in identical proportions – do you think folks would be content enough with that, such that they would react similarly to a death by cop – regardless of black/white?
#187 Trojan House on 04.21.21 at 1:31 pm
#177 TheDood on 04.21.21 at 12:19 pm
By the way, Dood, I forgot to mention, what if GF had just not resisted arrest and gotten into the cop car as instructed? If he had done that in the first place, none of this would have happened.
_________________________________
I’m not going to argue your point. But there is no way you can convince me GF was killed due to anything other than the guy kneeling on his neck for 9 minutes. Even worse, Chauvin’s hands are in his pockets, which goes a long way to proving GF was no threat.
I’m also not saying he’s guilty before proven so in court, but the video(s) are pretty conclusive and made the prosecutor’s job pretty easy.
There’s no such thing as “St. John”, Garth. It’s either Saint John (NB) or St. John’s (NL). Shame!
I feel like I got a stay of execution with the proposed Liberal election budget. I fear not inflation as it is currently supply issues. That will change if wage costs push inflation and I don’t see that happening yet although the public side of our economy is doing their best to ignite the fire.
Our first comrades must be thrilled to have inflation higher than CB interest rates. It is currently is the best way to manage the “free” debt they are piling on until it is not. It should last a few more years so I expect asset values will continue to grow.
I like the prospects of copper and gold so I bought some ngd plus ebn.pr.v to hedge.
” some price decline is inevitable as the rates climb” Fully in agreement. Somewhere, sometime, some prices will decline somewhat.