The wages of war

If you haven’t tried to buy a house lately, don’t bother. It’s a war.

For example, there’s the 5% Rule. Realtors are goading their clients into adding 5% to the price a seller is asking for every other bid that is registered. So on ‘offer day’ if eight other desperate buyers materialize, the idea is to revise your price so it’s 40% above the ask. Suddenly that $960,000 townhouse turns into a $1.344 property. Add in double land transfer tax (in Toronto) and the price swells to $1.392 million.

Oh, and then there’s the escalator clause.

This nuclear weapon is being detonated more often lately by buyers who have no intention of losing a bidding war in a blind auction. Their offer simply states they’ll pay $5,000 (or $50,000, or whatever) more than the highest bid from another party. No conditions. The upside price is therefore unlimited. Yikes. But they ‘win.’

Lately the media’s bristled with stories of jilted bidders, and also of sale prices up to $1 million more than what the vendors asked. Without a doubt, price escalation has been fueled by slimy realtor tactics, wink-and-smirk real estate boards and dozy, incompetent regulators.

It’s common now to list a property up to a third below market value, which whips up FOMO among the plebes. Then an offer date is established and buyers must submit their bids with no knowledge of what others are prepared to pay. It’s a pure guessing game. In order to be successful, buyers need to strip their offers of protective conditions (a home inspection and financing approval are the biggies) and throw as much money as possible on the table. These days in markets like the GTA, these poor wrenches also have to attach a cheque for as much as $100,000, certified, to the offer.

Realtors love blind auctions. They’re commission goldmines. Sellers adore them. Properties fetch unheard-of prices. Neighbours on the street are happy. The amount just paid in a blind auction sets the standard for every other property in the hood. The real estate board is smug. The market hits new pinnacles as blind auctions extract record amounts. The city and the province get to collect vastly more transfer taxes. More joy.

Meanwhile the winning bidder pays a premium. The losers become desperate and frustrated, likely to act more extreme on the next offer. Affordability crashes as prices inflate. Average income-earners can no longer afford average homes. More and more net worth is concentrated in one asset. Household debt climbs to new levels of absurdity. The economy becomes more dependent on a single sector. And realtors grow more insufferable.

Well, this can’t last. And it won’t.

Days ago the Bank of Montreal called for an end to the blind auction. “We think that if we’re going to have an auction process that should be transparent and open to all bidders,” said the chief economist. Then the CEO of the National Bank echoed that sentiment. Now a slew of realtors, understanding how this practice discredits the entire industry, are starting to backtrack, fast. “Offer transparency can be simple: Mandate (or at least allow the option) for the disclosure of the best offer on the table to all competing offers,” says iPro broker Philip Kocev. By forcing prospective buyers into making hyper offers when flying blind on offer night, we push the entire market farther into bubble territory. That builds the risk of a collapse. Smart people get that, like these guys…

“We have to do right by the consumer and it is very apparent that they want reform when it comes to blind bidding,” says top ReMax poohbah Chris Alexander. Actually I’ve known Chris for a few decades. Years ago he even hired me (a few times) to come lecture hundreds of agents on macroeconomics and market trends. The company has over twenty thousand reps and, yes, an army of them have been engaged in the morally-offensive and socially-destructive practice of blind auctions. It’s impossible to know how many clients have been led to buy properties at inflated prices with no protection.

But now we’re witnessing a come-to-Jesus moment. Open up the process, Alexander urges provincial regulators. Let all bidders know what others are putting on the table. And ban the common practice of agents ‘sending back’ offers during the auction process, to be ‘sweetened’ by bidders who still have no idea how much they need to pay to buy the property.

This is an easy fix for provinces. It wouldn’t gag the market nor break privacy rules. Letting some sunshine in could merely temper price inflation, hobble unethical, manipulative agents and slap down vendor greed. It would cost taxpayers nothing, could happen immediately and give the kids hope. Imagine.

We’re waiting.

About the picture: “This is the neighbour’s Great Pyrenees, Prince,” writes blog dog Randy. “He’s always happy to see me when I walk by. A friendly bark is rewarded with a vigorous ear scratch and chest rub!”

161 comments ↓

#1 Tesla on 05.09.21 at 11:52 am

BUY THE DIP, because Toronto real estate is GOING TO THE MOON!

#2 Frank Blood on 05.09.21 at 11:57 am

Beautiful dog, he has a good friend.

#3 Doug t on 05.09.21 at 11:58 am

The human race is a pretty pathetic lot really – give me a dog any day

#4 VGRO and chill on 05.09.21 at 11:59 am

Also… I know this blog talked a lot about the B-20 stress test over the years, but I was not aware that it only applies to certain lenders (federally regulated ones).

It would appear that the private mortgage insurer, Sagen, has overtaken the CMHC as the largest mortgage default insurer.

https://www.canadianmortgagetrends.com/2021/05/sagen-overtakes-cmhc-as-canadas-largest-mortgage-default-insurer/

So the stress test is impotent, right?

The insane market activity we were seeing never made sense to me, when I was assuming people had to qualify for a mortgage at a much higher interest rate than the one they would get. But this would explain it.

#5 NoName on 05.09.21 at 12:06 pm

if you guys are wondering what was a trckor dude up to in a last little while, wonder no more.

https://youtu.be/fGOMT_D6A10?t=172

#6 Flop... on 05.09.21 at 12:07 pm

#82 IHCTD9 on 05.09.21 at 9:12 am
#62 crowdedelevatorfartz on 05.08.21 at 8:03 pm

How high will fuel prices go this year?

———-

1.60. Unless you live in BC, then figure 2.00, with insurance rates to match.

————————————————–

Hey Trackie, I have some good news on this front.

Well not good, just a little better.

ICBC our insurance behemoth has started to beat its own backside with a massive overhaul and guys like me are starting to benefit.

I recently received $170 rebate for being a good boy last year and washing my truck regularly and keeping my vehicle from contracting COVID.

Now I just got this years renewal letter in the mail and the party continues.

Last year I paid $1700 roughly.

This years bill is $1100, this will be the lowest I have paid for car insurance since leaving Australia in 1999.

I think in the mid 2000’s I was paying above $3000 and by staying out of trouble on the road the last 15 years, this has been whittled down.

Sometimes when sleep deprived on a camping trip I pull out on the wrong side of the road, thinking I’m still driving in the Southern Hemisphere, then my wife gives me the elbows and I slowly shift over to the correct side…

M46BC

#7 willworkforpickles on 05.09.21 at 12:07 pm

“Well, this can’t last. And it won’t.”
……………………………………………………………………………………………………….

You’ll get to renew after 1 five year term but not 2 before they blow us all to monkey bits.

#8 Peter Courtney on 05.09.21 at 12:08 pm

Let’s put the blame where it belongs. The buyers are willing to purchase these properties with their hearts instead of their heads. You can’t fix stupid, even with a slew of new regulations.

#9 crowdedelevatorfartz on 05.09.21 at 12:09 pm

Realtors expected to “do the right thing”?

Not unless they are dragged kicking and screaming by Govt legislation.
The same govt that takes in mucho dinero for re-election campaigns from Real Estate cartels.

Unlike the people in the elevator….I wont hold my breath

#10 Km on 05.09.21 at 12:09 pm

Perhaps one blog post can be a letter to parents, or in my case inlaws as to why some of us “kids” are not getting into the buying frenzy and are not upset about missing out of debt servitude for the rest of our lives.

#11 Don Guillermo on 05.09.21 at 12:10 pm

#89 crowdedelevatorfartz on 05.09.21 at 11:26 am
Political correctness meets reality coming to an Olympics near you.

https://nationalpost.com/news/world/female-athletes-told-to-be-quiet-regarding-transgender-competitor-ex-weightlifter-says

*****************************************
Haha, nice to see the “woke” crowd eating their own!!

#12 Owl Eyes on 05.09.21 at 12:16 pm

I’d call it a “Come to Garth” moment.

But seriously I wonder how much money is now — and will be for decades — tied up in managing mortgage payments that could be spent elsewhere.

Also when will we have another mass epiphany, when seniors realize that the property they own in the GTA or Greater Vancouver could turn into a retirement fund. All they have to do is be willing to rent! Or if not, all they have to do is move just a bit further beyond commuting range.

Move to Vanleek Hill and your ill-gotten house proceeds could go a long way!

https://www.realtor.ca/real-estate/23164743/144-bond-street-vankleek-hill-vankleek-hill

#13 Where's My Taxes Going Greedeau? To Control My FREE SPEECH!!! on 05.09.21 at 12:18 pm

Just finished watching CTVs Question Period with Evan Soloman interviewing Heritage Minister Steven Guilbeault about bill c-10 and their move to control free speech.
https://www.ctvnews.ca/politics/minister-suggests-with-bill-c-10-regulations-could-apply-to-accounts-with-a-large-enough-following-1.5419170
The minister (I removed the capital because I have lost ALL respect for the minister), just kept to his talking points and failed completely to convince the viewers that it is a bill that doesn’t infringe of free speech.
The “minister” said the bill will bring in the demise of anyone who has enough listeners to sway a number of them a certain way (that number the minister agreed will be set!).
So Canadians, are we going to let this corrupt gov’t stand? This gov’t has shown many times the contempt of its citizens, for example, SNC-Lavalin, General Norman railroading, General Vance sex cover-up to name just a few.
Add to it the complete farce of Katie Telford’s testimony this week on the General Vance sexual misconduct cover-up (See what I did there, I kept the capital in General as I have too much respect for the military, even if they are running it from the PMO office).
https://www.ctvnews.ca/politics/we-did-not-know-what-the-complaint-was-about-telford-says-of-vance-allegation-1.5418390
Greedeau has to go, along with Harjan, Guilbault and all his little toadies groveling at his feet.

#14 Catalyst on 05.09.21 at 12:23 pm

You could also cap the over list price. Imagine if you could not legally sell for more than asking price. Then the seller would have to come out with what they actually are willing to accept and the bids could come in at ask or lower.

#15 Quintilian on 05.09.21 at 12:26 pm

The reason why house price inflation has reached this astronomical level is that there are fools motivated by greed who are willing to pay the absurd prices.

They are in fact the primary reason for the insanity. Let them fall on their own swords.

#16 Prince Polo on 05.09.21 at 12:28 pm

Since Photo-op Minister (PM) Socks loves huge deficits and adulation, why not simply print up $5M for each adult in Canada and let the real estate good times roll?

Chrystia, if you are reading this, it’s sarcasm…

#17 crowdedelevatorfartz on 05.09.21 at 12:37 pm

@#6 Floppie
“This years bill is $1100, this will be the lowest I have paid for car insurance since leaving Australia in 1999.”

++++

Yep.
Last year my ICBC annual insurance was $2000.
This year $1700.
I also received the $190.00 covid “rebate” for 2020 because fewer cars means fewer accidents.
Or the govt loves using your money to butter you up….

Not to worry about ICBC’s general revenue for a “Woke Broke” NDP govt.

They have taken away our right to sue for body injury in an accident which will save them billions in lawsuits.
The govt has promised that ICBC will “take care” of any persons injured or disabled ….
Their doctors will have your best interests at heart……

And if yesterdays fill up at $1.55.9 per liter gasoline is any indication…….we will be paying more than our fair share in gas tax to the dippers this summer.

#18 DON on 05.09.21 at 12:38 pm

The boomerang effect.

Their actions are creating an equal an opposite reaction.

If they don’t keep on blowing air into the holed riddled bouncy castle…it will deflate right away. The realtors seemed to have found a perpetual motion house price / commission increaser machine.

When locked in greed mode…how do you expect to see the warning signs.

Awash in debt.

#19 Flop... on 05.09.21 at 12:52 pm

Another day, another shady realtor story.

Only took 5 years for things to catch up to this guy.

At least he didn’t impersonate Elvis Presley while he completed the transaction.

Maybe he did.

You just overpaid half a million dollars for this property, Thank You Very Much…

—————————————————-

“B.C. realtor loses licence for misconduct after failing to disclose true identity.

The Real Estate Council of B.C. has ordered the termination of an agent’s licence due to misconduct.

Tian Yi (Richard) Li was found to have misrepresented himself as another realtor in a 2016 transaction.

Li, who was then working with Metro Edge Realty, held himself out as “J.J.”, an agent with Sutton Group Seafair Realty. (The RECBC’s consent order provided only the initials for the person and not the full name.)

At the time of the 2016 deal, J.J. was in China.

Li admitted to an RECBC discipline committee that he acted in violation of real estate rules and the Real Estate Services Act (RESA).

These require agents to act with honesty and not to engage in deceptive dealing.”

https://www.straight.com/news/bc-realtor-impersonates-another-agent-gets-licence-terminated-for-dishonesty

#20 DON on 05.09.21 at 12:56 pm

Hey,

That doggy in the picture looks exactly like my buddy. Great dogs.

#21 TurnerNation on 05.09.21 at 1:05 pm

The War…is for our minds. I got a report of yet another totally healthy young person who has locked themselves at home for the past 14 months. All they do is watch the #s on the Telescreen. The mental destruction must be amazing, almost life-changing. Spending 5% of your life – so far – in this state. (Their roommate however lives a normal life)

In the event these people reproduce (unlikely, hence the control over our Breeding) they kids might one day ask Mom/Dad how did you spend the WW3 Great Reset 2020-2023? Well…

…..

—–
So…we are told spacing, distancing, but we are Banned in Ontariowe from leaving the dense crowded cities (Stay at home order) and going to the less dense areas like Campgrounds Ski Hills, Golf Courses!!)

……………..

Kanada, the news aka ‘predictive programming’ is selling us on the Permanent Economic Lockdowns.

“4th wave of COVID-19 likely if Canada reopens too fast — and …https://www.cbc.ca › news › canada › toronto › 4th-wa…

#22 Ponzius Pilatus on 05.09.21 at 1:09 pm

On the issue of overheated RE prices, this socialist is a capitalist.
All I can say:
CAVEAT EMPTOR.
As long as the sellers don’t put a gun on the head of stupid buyers, LET THEM BUY.
Stupid is as stupid does.

#23 The West on 05.09.21 at 1:14 pm

Don’t you worry. It’s not worth losing sleep over.

When the time comes – the Feds will just continue to bail out the irresponsibility of the “plebes”. That’s their mandate.

One nation under the rainbow.

#24 Ian on 05.09.21 at 1:15 pm

Realtors will end blind auctions when timing suits them. After they’ve milked enough buyer’s they’ll join forces to combat the problem with some form of transparency that still benefits them; and look like part of the solution. For me I paid my way through school, saved, invested, but I’m way further behind my peers who bought, some sold and renting like me are financially set for retirement. I’ll be a serf for the future if I stay in Ontario. Market will eventually turn to right itself, but with 40 quarters of expansion, a government deemed to keep housing high. That’s another 10 years away. Lucky me gets too see more and more landlords pulling stuff to boot out tenants jack rent. See what’s happening in Hamilton with $10 wash and dry coin laundry… This will push more people to buy, keep market high.

#25 Brandon on 05.09.21 at 1:15 pm

#4 VGRO and chill on 05.09.21 at 11:59 am

The majority of mortgages underwritten by MFCs end up insured and either securitized through the NHA MBS and/or CMB programs or sold to federally regulated lenders, they are subject to OSFI’s B-20 and B-21 guidelines.

https://www.bankofcanada.ca/wp-content/uploads/2016/12/fsr-december-2016-coletti.pdf

#26 Wrk.dover on 05.09.21 at 1:19 pm

If Felix slags that dog, I’d ban that neutered cat.

#27 Tom from Mississauga on 05.09.21 at 1:21 pm

AZ number 1!!! Pfizer and Moderna blah.

#28 Doug in London on 05.09.21 at 1:26 pm

I read in Saturday’s Globe and Mail about how some houses in Oakville that never used to be in a flood prone area are now, partly due to climate change and partly because more development leads to more runoff during a storm. If you have one of those flood prone houses, you’d be wise to sell it RIGHT NOW, while the markets are still totally out of touch with sanity.

#29 G on 05.09.21 at 1:32 pm

Happy Mother’s day!

Some will find these interesting for various reasons.

Want kind of world does your mom want for you in the near future?
Something to think about. Then get out of your seat and do something positive to help get to the place you want you and your kids to be, come soon/fast!

DIVIDE & RULE – The Plan of The 1% to Make You DISPOSABLE – Vandana Shiva. 12min
https://www.youtube.com/watch?v=f9lq-uBdxg8

Life Like Robots That Will BLOW YOUR MIND! 9-1/2min
(Robot at 7:10 is 29k and can do the set task 24/7. Future jobs, plan accordingly!)
https://www.youtube.com/watch?v=u-Y-iLTPUDw

If you’re one of the 20% or want better insight into them, or a mom with a child that is …
Understanding The Highly Sensitive Person | Alane Freund | Talks at Google 46min
https://www.youtube.com/watch?v=2tKDnsns2bg

I see the church pastor out west got arrested this morning after church on a highway.
What happened to the Canadian Charter?!
Have you been paying attention? Worth remembering history.
‘First they came for them and I said nothing.
Them they came for the others and I said nothing.
Then they came for me and my family and there was no one left to speak for me.’

Not all platforms are censored the same yet, But don’t just wait and think it’s not going to get any worse by doing nothing. You have heard about PMT Bill C-10 trying to be rushed through at the moment to censer your free speech and freedom to hear others speech!

Some other platforms I’ve heard of, but haven’t look at all of them. In no particular order, Bitchute.com, gab, rumble, Telegram, parlor, newtube, Yandex, Howtube, odysee, anonup. I hope there are other too without the 1984 fact checkers.

Unethical humans are other human’s worst enemy. Let’s hope it doesn’t get more out of hand, and adjustments can be made for a better life for all soon.
Worth remembering, most people are good and not the problem, but it only takes a very few to cause big problems for many.

Also, It only take a few to change thing for the better for many. Don’t site back and do nothing thinking the other guy will do it for you.
Most of us are lucky that mothers do try to make it better for us as kids.

Happy Mother’s day!

#30 Linda on 05.09.21 at 1:35 pm

Prince looks like he is enjoying the day, just in doggy bliss:)

I do not get why the government hasn’t long since ended the blind auction process. Can the lure of inflated land transfer taxes be so powerful that protecting the consumer isn’t to be considered? Prices have increased to the point that even a 30% ‘crash’ would still see most sellers make a hefty profit on the proceeds should they decide to sell. As for affordability, it is to laugh. When households bringing in $250K plus can’t afford to buy ‘affordability’ is an outmoded concept.

#31 Northshore guy on 05.09.21 at 1:37 pm

FOMO at this point is so intense that such minor fixes won’t do anything to price escalation, I know people who have made 20 offers, yep 20 and all several hundred thousand over ask and still no luck.
Fix the interest rates or make stress test at 7%
Also, tax the hell out of people buying investment properties.
People are making hundreds of thousands by holding and flipping, unless you reduce demand this market will keep heating up until the real interest rate hike.

#32 TurnerNation on 05.09.21 at 1:39 pm

Yep more evidence this war is for our minds:

.Governments across Canada withholding COVID-19 data to regulate public reaction to pandemic, says access-to-information advocate (www.thestar.com)

— Control over our Travel/Movements. OIL is a key.

(OIH.US oil services ETF has stunning trading volume increases over past few days. Check that chart).

https://twitter.com/business/status/1391004239632211968
Bloomberg @business
Colonial Pipeline, the largest U.S. gasoline and diesel pipeline system, halted all operations Friday after a cybersecurity attack

AND:
https://themostbeautifulworld.com/blog/line-5
“Much of the jet fuel produced at Pearson International Airport in Toronto is made with crude supplied by the pipeline. Enbridge, which owns Line 5, says that Ontario’s fuel supply would be cut in half if the pipeline is shut down. But its closure would not only affect Quebec and Ontario.
…………

Dolce what do you make of this.
What came first chicken or the egg (Influenza and Pneumonia)?

https://www.cdc.gov/nchs/covid19/mortality-overview.htm

Most Frequently Listed Comorbidities. 45.8% (257,022) Influenza and Pneumonia.
There were comorbidities listed for 95% of all CV19 deaths.

#33 Deano on 05.09.21 at 1:47 pm

Garth, I’m not sure Chris is having a come to Jesus moment here. He was advocating for an auction style system from what I understand, like in Australia. Well, auctions in Australia involve a bunch of yobbos standing in a front yard throwing their guts and cheque books on the line. Massive emotion, massive overpaying. Chris could say “see, this is more transparent”, while the same emotions are at play as in the blind auction process (albeit perhaps in a slightly different form). The best model is to put your offer on the table, knowing what the other offers are. It gives time and space to be slightly more rational. My two cents.

#34 Sunny Daze on 05.09.21 at 1:51 pm

Let it rip. If you take part in a blind auction bidding war to win millions of dollars in debt you are plain crazy.

You can’t fix that.

The problem is bond buying and government policy to juice prices. Same happened in 09. Same with rates plopping in 18 because people were whining that they couldn’t close on million dollar properties.

Lenders have created a new debt paradigm to justify it all. Realtors have no control over any of this. They are working for their clients. As they should.

Prices are gonna roll over. Inevitable. Some jobs have permanently shifted away where supply is cheaper and more consistent. Some have become redundant. We are starting from a lower base this time. And getting it back may prove to be impossible.

On the other side people have been given lottery type winnings because of the policy. They can take it and move on and enjoy if they want to.

Understanding the real reason behind the price appreciation helps people make better choices. If they think it’s all about insatiable foreign demand, prices will just double cause fomo won’t end and we will run out of houses and be priced out forever then they may not make an appropriate informed decision. If they know it’s because of interest rates and bond buying they can judge whether they think that will continue. And then incorporate that into a decision for themselves.

People have choices. My take.

#35 Sail Away on 05.09.21 at 1:54 pm

Enjoyed watching the Canelo Alvarez fight yesterday. 73,000 fans in attendance in Texas. Can’t wait to be there in person.

US Covid is kaputski.

#36 Dolce Vita on 05.09.21 at 2:15 pm

Chinese rocket debris flew over head many times, we didn’t get it.

Europe Day today. News to me until yesterday.

Italia Green Pass is its health card, electronic vax data.

“Precious” becomes more precious in Canada.

It’s been a good day.

#37 Damifino on 05.09.21 at 2:17 pm

It should be illegal to list a property for an amount less than its most recent tax appraisal, unless that appraised value also appears in the listing and the negative difference clearly noted.

It would fine to sell for whatever, either more or less, but one shouldn’t be able to list for less than appraisal, which is clearly a sign of acting in bad faith.

#38 Leftover on 05.09.21 at 2:19 pm

The realtors I know are genuinely uncomfortable with the blind auction process but admit that it’s part of their job to get the most for their sellers.

No, you can’t legislate against stupid, but you can outlaw usury and that’s what this has become. It is indeed the provinces that have blood on their hands.

But even in that socialist utopia, BC, they haven’t made a peep. What does that tell you about conflict of interest?

#39 Dolce Vita on 05.09.21 at 2:23 pm

#32 TurnerNation

Most Frequently Listed Comorbidities with COVID-19:

Death

A disease acquired at birth.

Everyone has it.

—————–

Except:

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

#40 BillyBob on 05.09.21 at 2:29 pm

The joys of a Czechoslovak wolfdog. Unusually docile, probably due to it being 25C and still having vestiges of his winter coat.

Sunshine, icy Budvar 33, birds singing, and a good boy like this. No complaints.

https://streamable.com/wfilfc

#41 Lobster Man on 05.09.21 at 2:33 pm

#91 yesterday’s – willworkforpickles,

I bought in mid-February, 2021.

I always thought Newfoundland has been unfairly labelled as an “Underdog”.

LM

#42 Rogerhomeinspector on 05.09.21 at 2:34 pm

I kind of see this from the other side.

Developers for years have been strangled by red tape trying to get anything built. Tell them there’s a 10 year open season- if you can buy the land, we’ll support your building. Buy today and build in 6 months rather than 16 years.

#43 Hey Kanada on 05.09.21 at 2:37 pm

Who do you think is the government?

https://www.weforum.org/people/chrystia-freeland
https://www.weforum.org/agenda/authors/mark-carney
https://www.weforum.org/about/leadership-and-governance
https://www.weforum.org/partners#search

Happy “Great Reset….Build Back Better”

#44 Joseph R. on 05.09.21 at 2:42 pm

#29 G on 05.09.21 at 1:32 pm
I see the church pastor out west got arrested this morning after church on a highway.
What happened to the Canadian Charter?!
Have you been paying attention? Worth remembering history.
‘First they came for them and I said nothing.
Them they came for the others and I said nothing.
Then they came for me and my family and there was no one left to speak for me.’

————————————————————

The pastor is Arthur Pawlowski. He is a pastor of the Street Church in Calgary. He was arrested for repeatedly violating public health order.

As such, he believes Jesus Christ is on his side and that gives him, and his followers, the right to put his fellow citizens in danger. We know history. Good that he will have to explain his behaviour to a public court.

The Charter is anti-Christian: it states the freedom of religion. As such; under the law, Jesus, Mohammed, YHWH and Flying Spaghetti Monster are treated as equals. No Prophet nor priest can claim to be above every one else’s god or use religious text to hurt their follow citizens.

#45 Drill Baby Drill on 05.09.21 at 2:53 pm

I read Rex Murphy’s article this weekend on the current plight of NFLD & Labrador. It is quite a stark view into the potential future of the rest of Canada due to high borrowing and overblown public service spending. Perhaps Elon Musk or Bill Gates or Jeff Bezos or even China for that matter could take the province over. Canada sure can’t afford it.

#46 crowdedelevatorfartz on 05.09.21 at 2:58 pm

@#11 Donny G
“Haha, nice to see the “woke” crowd eating their own!!”

+++++

Yep.
There are several University female athlete programs that are considering shutting down in the States if they cant ban Trans athletes.
Guys that were lower ranked in Male Sports are switching over and crushing the female opponents and then qualifying for Scholarships……

https://www.nytimes.com/2021/03/11/sports/transgender-athletes-bills.html

For every rule…there’s a way around it.
Well, at least the lawyers will get rich

#47 PetertheSeparatistfromCalgary on 05.09.21 at 3:15 pm

To the provinces that get increased home transfer tax revenue I have a warning. If you let these bubble inducing practices endure eventually the bubble will burst and good bye tax revenue from land transfer taxes plus the added costs of providing a safety net to all those who got hurt.

#48 Ponzius Pilatus on 05.09.21 at 3:34 pm

#40 BillyBob on 05.09.21 at 2:29 pm
The joys of a Czechoslovak wolfdog. Unusually docile, probably due to it being 25C and still having vestiges of his winter coat.

Sunshine, icy Budvar 33, birds singing, and a good boy like this. No complaints.

https://streamable.com/wfilfc
———–
“icy Budvar”?
Diluting perfecty good Czeck beer.
Sacrilege.
Maybe in a Radler, or Weisse

#49 Millennial 1%er on 05.09.21 at 3:36 pm

Yeah, that and a total monopoly on data the real estate board maintains with an iron grip. Don’t kid yourself garth, the propertyless plebians will not be afforded any slack by the property owning, commission chucking, 12.99% APR cardriving real estate chads.

#50 Humbled ◇ Broke on 05.09.21 at 3:39 pm

Solution is simple. Big Bro Bank adds an extra line on mortgage app. “Did your real estate purchase agreement have a blind bid clause? If yes, then your mortgage application is denied.

Bid up stupid prices, win stupid contests.

Use your own lucre. Big Bank not gonna be the bag holder when this sack of slither finally collapses.

“Reversal to the mean” always involves a lot of meaness (along the way back to normal).

#51 G on 05.09.21 at 3:41 pm

DELETED. No conspiracy crap from Bitchute. – Garth

#52 Bob Dog on 05.09.21 at 3:44 pm

Take a look at the new images from Mars. What a desolate baron uninhabitable place. Now ask yourself what is Canada worth. We talk about housing but money laundering migrants are actually buying a country.

Canadians are losers. End of discussion.

#53 Axehead on 05.09.21 at 3:46 pm

The solution for high prices is … high prices.

#54 -=withwings=- on 05.09.21 at 3:55 pm

“We have to do right by the consumer and it is very apparent that they want reform when it comes to blind bidding,” says top ReMax poohbah Chris Alexander.

Uh huh. And what exactly is stopping the brokers from doing that right now? nothing. Just like nothing is stopping the banks form being more careful on their underwriting. And the band plays on.


Guys that were lower ranked in Male Sports are switching over and crushing the female opponents and then qualifying for Scholarships……

Except this hasn’t happened. Oh, one woman in Connecticut once. Do you really thing Elliot Page is a threat to sports? Do you really think there are lots of men willing to have their penis removed and take estrogen for years so they can compete with women? Also, Trump lost.

#55 the Jaguar on 05.09.21 at 4:03 pm

@#40 BillyBob on 05.09.21 at 2:29 pm

Bren’s coat looks brushed. I turned the volume up to hear the birds. A very pretty landscape. Cool and rainy day in Calgary, but the southern part of this province can always use the rain at this time of year. We must always count our blessings. A perfect day to make Tripolini Bolognese sauce and look forward. As BillyBob knows very well, it’s a great time to be alive.

#56 Lobster Man on 05.09.21 at 4:04 pm

Just spoke with my home insurer the other day. And she reminded me of “Flood Risks” – a hazard most landowners may or may not be aware of:

https://www.theglobeandmail.com/business/article-down-the-creek-without-a-policy/

LM

#57 Sail Away on 05.09.21 at 4:06 pm

#46 crowdedelevatorfartz on 05.09.21 at 2:58 pm

Re: Trans athlete dudes

There was this trans UFC fighter who enjoyed beating the snot out of women before he was exposed. Apparently much easier than fighting men:

https://www.sportskeeda.com/mma/news-when-transgender-fighter-fallon-fox-broke-opponent-s-skull-mma-fight

#58 Keith on 05.09.21 at 4:07 pm

Savvy marketer writes a provocative blog from a realtors perspective. He covers all the controversy. Interesting read.

https://torontorealtyblog.com/blog/is-under-pricing-real-estate-unfair/

#59 Brian Ripley on 05.09.21 at 4:17 pm

My Total Residential Sales & Inventory charts (April data) are up also with tables showing the 10 year spread:
http://www.chpc.biz/sales-listings.html

This month Edmonton is the extreme outlier with Sales up 101% and Inventory up 16% (over 10yrs) and Edmonton buyers bid up prices to a new high price for an average SF detached which has not occurred since May of 2007.

The other biggest 5 metro cities all have 10 year spreads of inventory much lower (Ottawa down 72%, Montreal down 56%)

Residential Sales in Vancouver and Toronto both peaked last month (March data) but both dropped sharply in April (Vancouver down 14% M/M and Toronto down 13% M/M). This could be an early seasonal move down when compared to previous years.

Edmonton, although not having the biggest inventory level in Canada (Toronto does), has the smallest ratio of buyers (209) for every listing (using July 2020 census estimate), so the advantage goes to the buyer who can reject the offer, or underbid to keep prices from rising.

But Alberta buyers continue to outbid their neighbours. (Calgary also hit a new high for a detached average house price).

I guess it’s oil patch maintenance time.

#60 Flounder on 05.09.21 at 4:22 pm

Eliminating blind bidding will do nothing but prolong the inevitable. Let these fomo idiots blow their brains out. RE fomo is a global problem, but Canada has taken it to next level. The world is forecasting correction when covid QE is scaled back. I like the idea of stocking up in popcorn.

#61 When the Whip Comes Down on 05.09.21 at 4:24 pm

Has it ever been considered that to make it a legal requirement for the seller to provide an inspection from an independent and certified inspector? Yes, I know, buyer beware, but for the amount of money homes are sold for, I think its not an unreasonable requirement for the seller to suck up. Yes, there are reps and warranties and signs offs as to knowledge of material latent defects etc. but to me, having the seller be required to provide an inspection would be a step in the right direction.

#62 S.Bby on 05.09.21 at 4:27 pm

Who are these people who feel the need to buy right now and where are they living now? They must already have some place to call home.

#63 ogdoad on 05.09.21 at 4:35 pm

Haha…dang, no more blind auctions? I don’t really no who’s dumber. Those who fall into the auctions b/c they are so desperate for a detached roof that their left side shuts down and they’ll offer anything, or the realtors who think they are offering enough of a service to earn that type of commission. Hmm…defo the payer – HGTV’s pullin’ the punches – lol!

BTW, whoever started the BA’s, should actually receive ‘Gottcha! of the year’ honors, right? How to transfer wealth 101?

Enjoy your Sunday!

Og

#64 The West on 05.09.21 at 4:36 pm

#43 Hey Kanada on 05.09.21 at 2:37 pm
Who do you think is the government?
https://www.weforum.org/people/chrystia-freeland
https://www.weforum.org/agenda/authors/mark-carney
https://www.weforum.org/about/leadership-and-governance
https://www.weforum.org/partners#search
Happy “Great Reset….Build Back Better”
————————————–

Excellent list. You forgot one:
https://en.wikipedia.org/wiki/Plutocrats_(book)

Whose side is she on, again?

#65 crowdedelevatorfartz on 05.09.21 at 4:42 pm

@#57 Sail Away
Yep

World Rugby has banned Trans female players from any ranked competitions due to their concerns about fairness and injuries to other female players.

https://thehill.com/changing-america/enrichment/arts-culture/524034-trans-women-are-now-banned-from-playing-in-world

And the Lawyers for both sides will rake in millions in fees to have the ban thrown out.

Discrimination vs common sense.

I wonder if the same lawyers will represent the first male trans player to have their neck broken by someone bigger, stronger and the same gender.

#66 Grunt on 05.09.21 at 4:45 pm

I’ve also read of impulsive sellers who then find there’s nowhere to go.

#67 VladTor on 05.09.21 at 4:58 pm

…Days ago the Bank of Montreal called for an end to the blind auction. “We think that if we’re going to have an auction process that should be transparent and open to all bidders,” said the chief economist.

***********
This is would be good if would be done immediately – mean since today. But they will discuss this (may be!) next 3 years and finally do nothing. Doesn’t help too much if would be provided – this will be cosmetic action. RE market need deep transformation with bunch of actions and strict regulations.
First and more important action among others is to close CMHC.
Any political party not interesting. Government not interesting too b’s they have with new assessment more tax money and by the way they promised that they not allow RE prices to fall.
So, relax and wait for crash, big bang, revolution etc. Sell RE now if you can and don’t buy if (as so many times was recommended by Garth) if you can’t afford.

Just look at this fresh report by National Bank of Canada —> https://www.nbc.ca/content/dam/bnc/en/rates-and-analysis/economic-analysis/housing-affordability.pdf

You need 297 !!!!! month to collect down payment to buy house in Toronto.

But don’t worry – this just 25 years. 30 years would be catastrophic! Life expectation in Canada soon will be 80. Calculation is simple! You start working at 25 + 25 years to collect downpayment + 25 years amortization = 75. You will have 5 years of freedom.

#68 Cowtown Cowboy on 05.09.21 at 4:58 pm

As recent fed elections have shown, Ontario is home to the dumbest people on the planet, this comes as no surprise…

#69 Dr V on 05.09.21 at 5:03 pm

56 Lobster man

Provincially designated flood hazard areas were created in BC in the 1970s. I believe the idea was not to save property, but rather reduce the disaster relief that the province would be asked to provide in case of a flood. Over the decades, it was hoped that older
buildings would be replaced and all new buildings
would have to conform. Enforcement was through the local governments who issued building permits.

In the 90s, the Provincial water management branch re-calculated at least some of the flood elevations. Some property owners found they did not conform to the new level.

In the last decade or so, local governments were allowed to create and administer flood plain bylaws
based on new studies, which many have. In our area, a mixed bag, as some portions have reduced elevations
and others increased elevations.

The newest studies now take into account projected climate change, which generally increases everything.

There has also been extensive dyke construction/re-construction in my area. But given the projected flood elevation (calculated without the dykes) the volume of floodwater is huge, and would easily overflow the flood control structures. Maybe good for a 20-50 year event,
not so good for 100-500 yr events.

Insurance? Fawgedabowdit. The insurance companies
count on the government for natural disasters.

I’m high and dry at my place. Wildfire is the bigger risk for me. And the big shake.

#70 Beetman on 05.09.21 at 5:12 pm

Heard this on Glen Beck yesterday that the Bank of America has prepared a report that says in the very least transitory hyperinflation is coming.

Of course not. Hyperinflation mean prices increases of 50% – per month. Stop listening to trash. – Garth

#71 Ponzius Pilatus on 05.09.21 at 5:22 pm

#69 Herr V.

There has also been extensive dyke construction/re-construction in my area. But given the projected flood elevation (calculated without the dykes) the volume of floodwater is huge, and would easily overflow the flood control structures. Maybe good for a 20-50 year event,
not so good for 100-500 yr events.

Insurance? Fawgedabowdit. The insurance companies
count on the government for natural disasters.
—————–
There should be no gubernmant help for people living on floodplains.
Do you hear me Richmonders.

#72 Ponzius Pilatus on 05.09.21 at 5:24 pm

Soon you gonna have insurance against space junk hitting your property.

#73 Phylis on 05.09.21 at 5:31 pm

#61 When the Whip Comes Down on 05.09.21 at 4:24 pm
Has it ever been considered that to make it a legal requirement for the seller to provide an inspection from an independent and certified inspector? Yes, I know, buyer beware, but for the amount of money homes are sold for, I think its not an unreasonable requirement for the seller to suck up. Yes, there are reps and warranties and signs offs as to knowledge of material latent defects etc. but to me, having the seller be required to provide an inspection would be a step in the right direction.
Xxxxxx
And place the inspection reports on a public block chain. Bitcoin move over.

#74 Where's My Taxes Going Greedeau? To Curtail OUR FREE SPEECH!!! on 05.09.21 at 5:33 pm

Re; #13 Where’s My Taxes Going Greedeau? To Control My FREE SPEECH!!! on 05.09.21 at 12:18 pm
+++++++++++++++++++++
I guess Garth, you’ll have to turn down the rhetoric on the real estate shaming or Greedeau will clamp down on your truth telling a-s-s with bill Covid-10. You will have embarrassed the fine occupation that is the RE industry and they are feeling slighted. You can’t have that now, they are peoplekind too, you know!.
Doesn’t this go both ways. Can’t we shut the Libs down when they speak mis-truths , just like Guilbaut, well heck, all of them, in my last post about today’s Question Period.
What cowards our politicians have become. Grow a set !!!!
To today’s post, they (realtors-politicians) will always wait until they’ve bled everyone dry, then fake that they are doing something to stop the RE disaster in this post national state (read 3rd world).
Remember this folks, Greedeau and his sycophants wanted this all along and you voted for it.

#75 NOSTRADAMUS on 05.09.21 at 5:45 pm

BENT AND BROKEN !
Here’s a shot glass or two of reality. Far too many ethical realtors have had their careers shortened or ruined by fellow realtors who either bent or broke any and all rules for their own self gratification. This I feel has a lot to do with the 95% failure rate within the first 5 years in the profession. If these ethically challenged agents pulled some of their stunts out in the real world that they perpetuate daily within the real estate world they would be doing jail time. They continue to thrive because in the real estate world there are few if any penalties. The word sociopath comes to mind. Sociopath is a term used to describe someone who has an antisocial personality disorder. Characteristics , such as,
(1) Lack of empathy for others.
(2) Impulsive behavior.
(3) Attempting to control others with threats or
aggression.
(4) Using intelligence, charm, or charisma to
manipulate others.
(5) Not learning from mistakes or punishment.
(6) Lying for personal gain.
(7) Stealing or committing other crimes, etc.
Consider the possibility that the realtor you are interviewing, for probably the largest financial transaction in your life could be a closet sociopath. Take your time, there are a large number of ethical realtors to choose from. Until the powers that be, clean up the profession and get rid of the bad apples, lives will continue to be destroyed.
You can call me a dreamer, but I’M not the only one.

#76 BillyBob on 05.09.21 at 5:59 pm

#55 the Jaguar on 05.09.21 at 4:03 pm
@#40 BillyBob on 05.09.21 at 2:29 pm

Bren’s coat looks brushed. I turned the volume up to hear the birds. A very pretty landscape. Cool and rainy day in Calgary, but the southern part of this province can always use the rain at this time of year. We must always count our blessings. A perfect day to make Tripolini Bolognese sauce and look forward. As BillyBob knows very well, it’s a great time to be alive.

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

hahah yes, he loves the brush. You could make a 2nd dog out of the hair it yields. Some of those birds you hear probably have some pretty comfortable nests lined with it.

The area just beyond the trees is a large vineyard which adds to the local scenery. But Calgary is no slouch when it comes to beauty, the arrival into YYC descending over the Rockies, can be absolutely sublime. As I’m sure you know!

The bolognese sounds great, enjoy!

#77 Sunny Daze on 05.09.21 at 6:25 pm

#45 Drill Baby Drill on 05.09.21 at 2:53 pm
I read Rex Murphy’s article this weekend on the current plight of NFLD & Labrador. It is quite a stark view into the potential future of the rest of Canada due to high borrowing and overblown public service spending. Perhaps Elon Musk or Bill Gates or Jeff Bezos or even China for that matter could take the province over. Canada sure can’t afford it.

———————————-

From what I read not a single politician of any stripe backed any of the ideas. The adults have left the building. They are going for broke.

#78 Garth's Son Drake on 05.09.21 at 6:31 pm

What a great country. What is next? Food prices?

The Feds wanted it, so let her go to the moon. I am almost thinking the Feds have decided to let it pop and then plop and if they have not decided this than they have clearly lost control, which is technically what a gov is all about: control.

Future in Canada looks great.

#79 Getthebeef on 05.09.21 at 6:35 pm

Blind auctions cannot triple (or quadruple) the price of houses in 10 years. This is a quibble.

Emotions can bump up the amount of money people are willing to pay, but it cannot change the amount they are able to pay (or the amount of buyers in existence who are able to pay a certain amount). That is an external factor.

#80 Where's My Taxes Going Greedeau? To Compose Bills To Hammer Free Speech! on 05.09.21 at 6:36 pm

Here’s Rex Murphy’s piece of C-10,media control
https://nationalpost.com/opinion/rex-murphy-liberals-dangerous-arrogance-didnt-begin-and-wont-end-with-internet-regulation-bill
++++++++++++++++++
Another home run. Trudeau better run.
Bill C-10; Liberals took out exemption 4.2 for user generated content. Soloman asked why the Libs wouldn’t put the exemption back in and Guilbeaut went on a lark to try to befuddle the masses.
Full props to Soloman for calling him out, something I find is good, because I had quit listening to him, feeling he was turning into one of those reporters that got bought off.
He said the Libs are deferring to the CRTC and “experts”, and it’s not political, then why did they take out the exemption? Did the CRTC take it out? Are they going to be thrown under the bus?
Big fail on Guilbeaut’s part!

#81 Diversified in Mississauga on 05.09.21 at 7:03 pm

I have a hard time buying into the belief that blind auctions are really bad. We sold our house in Oakville just over a year ago to start our retirement. Weekend of open houses, 8 offers on Monday, and the “winning” bid was 7% over asking. Worked out great for me and a little extra money in the portfolio. No one put a gun to anyone’s head to make an offer. Why does that make me a bad and/or greedy person?

Now jump forward to present day and I am looking to purchase a home a little West of Ottawa. Lots of bidding wars and 20% over asking that I just won’t participate in. Big deal. I can always buy when things calm down.

My point is, if you are trying to sell your house, truck, or a dozen widgets, who does not want to maximize the amount of money they can get? If someone offers me $5,000, should I say “No, that is too much; please only give me $4,500”.

#82 VladTor on 05.09.21 at 7:08 pm

#37 Damifino on 05.09.21 at 2:17 pm

…..It would fine to sell for whatever, either more or less, but one shouldn’t be able to list for less than appraisal, which is clearly a sign of acting in bad faith.
************

Absolutely disagree! This is my property and I can do whatever. May be I need emergency money. I can sell for 1$ – my choice!

Need to establish rules for selling RE.
Lets take situation when I’m buying a car/TV … etc. I see in advertisement price and seller will sell me car for this price. Right? What happened if I came and company tell me “You know we had 5 people who would like to buy this car and your price less than last offer. Sorry! ” What I will do – I can sue them! They can do me discount – but this is discount! Not INCREAScount!

Same should be with RE. If I declared home price I should sell it to first buyer who came and agree with this price. It should be by law! Of course after home inspection can be changing. But this will negotiating with first person who decided to buy with declared price. This automatically kill blind auctions.

Second, If I for some reason decided to change home price I can delist, no problems! BUT… I can list it again after 1 month or 2. It will prevent game when price will be start from much higher and decreasing every day.
So I will think twice before listing and price probably will be good for me.

#83 T on 05.09.21 at 7:14 pm

The real estate cartel are a group of bottom feeding parasites sucking own hard earned wealth through anti competitive policies and a penchant for claiming their mls boards own data which should be 100% public, much like the land registry.

I can’t wait for the entire industry to be devastated as soon as a tech company figures out a scalable and secure solution to the problems the cartel has been marketing as their value props.

#84 Nonplused on 05.09.21 at 7:21 pm

Those bidding practices are crazy. A live auction would be better. “Give me an arm, arm do I have an arm, we have an arm, do I see a leg, leg, we have a leg, arm and leg, arm and leg, there is arm and leg, do I have a first born child….”

I guess the flip side to all of this is that retirees who are downsizing end up with a bucket load of cash that they can and probably will spend in retirement. So for every loser there is a winner in these “House Hunger Games”. This in turn injects more money into the broader economy, which is exactly what low interest rates are supposed to do. So long as they can keep inflation and interest rates low I suppose it is an irresistible path that no government or central bank can resist. Ponies that fart money all around.

But again, this phenomena is largely contained to the YYZ and YVR service areas. I don’t think the “escalator clause” is being used in YYC.

———————————–

The Continental Pipeline is still down and word is they don’t know when it will be back up, 3-7 days is the hope. It is interesting how the press spins things. “No problem, if it lasts longer we can import gasoline from Europe or use barges.” Where are you going to get all these barges? And does Europe really have 2.5 million barrels per day of capacity lying around dormant that can be quickly brought on line? And the shipping to get it to New Jersey? Are there offloading facilities to handle the volume? Will anyone send product before they have a firm contract?

The problem here is similar to what will happen when line 5 shuts down. The remaining infrastructure was designed, “sized” if you will, as if it was there. You can’t get 100 amps from a 15 amp generator.

So far it seems like a software hack, so hopefully it can be repaired quickly. But how was such an important piece of infrastructure so vulnerable to a hacker? Don’t they have Norton? It’s only $99 a year! For 3 computers! How come the NSA didn’t catch this? Oh ya, they are only worried about phone calls and Facebook posts. An easy way to succeed is to set the goal post low. Everyone can win the high jump if the bar is at 6 inches.

#85 Handsome Ned on 05.09.21 at 7:26 pm

#71 Ponzius Pilate

I live in Richmond. If I get flooded out, I will be knocking on your door with a rifle butt.

#86 Smug Canadians on 05.09.21 at 7:33 pm

I say we leave the market as is and watch it implode. RE agents are going to need bodyguards soon; regardless of the near future. Think about all the people they’re screwing over.

#87 Steven Nicolle on 05.09.21 at 7:33 pm

No realtor should have introduced bidding. You make an offer and wait. Usually you low ball the asking price. If you do not get it you walk away. Well now that is impossible because they house buyers are so uneducated and the realtors just feed them this BS. I used to go to a lot of real estate seminars. People should read Robert Allen’s book titled “Nothing Down.” Anyone remember when you looked at a house, the motto was “Your Price My Terms. Well those days are done. People are stupid period!

#88 Damifino on 05.09.21 at 7:34 pm

#81 Diversified in Mississauga

If someone offers me $5,000, should I say “No, that is too much; please only give me $4,500”.
———————————–

Of course not. What you say is this:

“I have a better offer but I won’t tell you what it is. You need to increase your offer by enough to beat the other offer. You’ll have to guess how much that is.”

Then, if he comes up with something better, you go back to the original guy and say “I have a better offer but I won’t tell you what it is. You need to up your offer by some amount. Take a wild stab, but aim high. And by the way, no conditions, eh.”

The more desperate suckers there are on the line, the better this works for you.

As far as sleeping at night… that’s your problem.

#89 Nonplused on 05.09.21 at 7:35 pm

#28 Doug in London on 05.09.21 at 1:26 pm
I read in Saturday’s Globe and Mail about how some houses in Oakville that never used to be in a flood prone area are now, partly due to climate change and partly because more development leads to more runoff during a storm. If you have one of those flood prone houses, you’d be wise to sell it RIGHT NOW, while the markets are still totally out of touch with sanity.

———————————–

The climate has not significantly change as of yet. That is a forecast.

How they build runoff infrastructure, that I could accept. All that asphalt (including roofs) doesn’t hold the water very long.

The rich are still paying premium prices for ocean front property.

#90 Irish Stew on 05.09.21 at 7:40 pm

I am not sure even an open bidding would slow the market down.
The real key is what these banks are willing to give in mortgage amounts.

If the bank held the key to the debt – not CMHC in most cases – they may think twice about throwing money around.

#91 Smug Canadians on 05.09.21 at 7:40 pm

I’ve said this before, TREB is an organized crime syndicate. And the Gov is afraid to piss them off. Much like the NRA in the US.

#92 Nonplused on 05.09.21 at 7:48 pm

#65 crowdedelevatorfartz on 05.09.21 at 4:42 pm
@#57 Sail Away
Yep

World Rugby has banned Trans female players from any ranked competitions due to their concerns about fairness and injuries to other female players.

https://thehill.com/changing-america/enrichment/arts-culture/524034-trans-women-are-now-banned-from-playing-in-world

And the Lawyers for both sides will rake in millions in fees to have the ban thrown out.

Discrimination vs common sense.

I wonder if the same lawyers will represent the first male trans player to have their neck broken by someone bigger, stronger and the same gender.

—————————————-

Sooner or later a male tennis player ranked 200th will decide they are female and win the WTA title. After that ratings will go to zero and one of the few sports that women can make big bucks will disappear. The market will decide.

The problem we have now with all of this is government mandated scholarships are on the line, and as always, governments are in the business of buying votes.

I can’t wait until this transgender weightlifter from New Zealand gets to the Olympics and all the other countries refuse to compete. It is a mistake to assume the rest of the world shares our psychosis.

#93 Nonplused on 05.09.21 at 7:52 pm

“Of course not. Hyperinflation mean prices increases of 50% – per month. Stop listening to trash. – Garth”

Well, 1% per month would catch my attention.

#94 fishman on 05.09.21 at 7:54 pm

Garth’s Son asks whats next? food prices. Food is my cash flow. R/E is my wealth. Food biz is weird. Last year I left 25,000 lbs of ling cod in the water. This is quota that I own & can legally harvest. Yet, we come in with a load of red springs for Lox. Price so high only the ultra rich could afford slices with their cream cheese & crackers. A grandfather burnt his wheat in the fields on the prairies during the dirty thirties while people were hungry. And dying by the millions of starvation in the Ukraine.
Big upheavals in the supply chain. Capital & transportation costs exploding. Bourgeois wholesale seafood prices are lower & demand is soft. Elites seafood good demand, strong wholesale price. The poor been priced out long ago. Everbody from the biggies like Sysco to the mom & pops are crowding the direct market scene. Farmers tell me that grain is way up but so is fertilizer & fuel. There could be lower food prices as we fight for market with bumper crops & too many entrants. Wholesalers brought order to the system but are getting squeezed out. Japan or China easily & often just outbid. Only the overseas rich get the good stuff. Disorder in the food industry. Stress,panic,desperation as the weak get eaten. Big guy takes the pot. Shortages, gluts,price wars, price gauging, supply chain breakdowns, consolidation. These have always been but this time is different. The swings will mirror our economy. Violent, swift, massive. A good backup plan is gold,garden & gun.

#95 Happy Renter (that might get the boot) on 05.09.21 at 7:58 pm

62 S.Bby on 05.09.21 at 4:27 pm
Who are these people who feel the need to buy right now and where are they living now? They must already have some place to call home.

—————

Maybe people like me who renta from someone trying to cash in on this covid addled buyer fueled sellers market.

#96 Nonplused on 05.09.21 at 8:02 pm

#73 Phylis on 05.09.21 at 5:31 pm
#61 When the Whip Comes Down on 05.09.21 at 4:24 pm
Has it ever been considered that to make it a legal requirement for the seller to provide an inspection from an independent and certified inspector? Yes, I know, buyer beware, but for the amount of money homes are sold for, I think its not an unreasonable requirement for the seller to suck up. Yes, there are reps and warranties and signs offs as to knowledge of material latent defects etc. but to me, having the seller be required to provide an inspection would be a step in the right direction.
Xxxxxx
And place the inspection reports on a public block chain. Bitcoin move over.

———————————–

Always better to have the inspector aligned with the buyer. A rule that states all sales contracts must allow for a 1% home inspection (can cancel offer if required repairs exceed 1% of purchase price) is a better idea. It’s the same idea as when buying a used car, you take it to your own mechanic for the inspection.

#97 Nonplused on 05.09.21 at 8:07 pm

#75 NOSTRADAMUS on 05.09.21 at 5:45 pm

Cheese, now all relators are psychopaths? No, they are just responding to incentive, just like you do when you do business. If your boss offered you a 5 figure bonus you weren’t expecting, would you turn it down? It happened to me once a couple of times and I did not turn it down.

#98 45north on 05.09.21 at 8:14 pm

Linda I do not get why the government hasn’t long since ended the blind auction process. Can the lure of inflated land transfer taxes be so powerful that protecting the consumer isn’t to be considered? Prices have increased to the point that even a 30% ‘crash’ would still see most sellers make a hefty profit on the proceeds should they decide to sell. As for affordability, it is to laugh. When households bringing in $250K plus can’t afford to buy ‘affordability’ is an outmoded concept.

it’s not land transfer taxes or it’s not just transfer taxes it’s the whole economy – more sales, more commissions, more bank fees, more sales at Home Depot, more renovations. A 30% crash doesn’t tell the story. For example today, say you can sell your house for $1 million, in a week – pretty much guaranteed. Depending on the crash, you cannot sell for $700,000, in a week. You put your house up for sale and hope. Maybe a month, maybe a year.

We have never been here before. House prices have never gone up so fast. We’re on the edge of a precipice.

precipice: a hazardous situation

https://www.merriam-webster.com/dictionary/precipice

#99 some guy on 05.09.21 at 8:15 pm

There is no way Doug Ford would push for open bidding in real estate. I imagine his developer buddies are against that idea.

#100 Damifino on 05.09.21 at 8:18 pm

#82 VladTor

Your suggestion is good for an ideal world. That is, say you ask for $700K. Then the first offer for exactly that amount seals the deal, period. If an offer of $750K should come in before you accepted the first one, I assume you’d have decency to ignore it.

My suggestion is actually doable. You must, by law, clearly display the most recent tax appraisal together with the offered asking price. If the listing price is lower, you’d also need to show the difference in bold font with a fat negative sign in front of it. That’s regardless of the eventual sale price.

Then the BS becomes much more obvious. It might help discourage a listing agent from putting up a low-ball price no one intends to accept in the hope of starting a bidding war.

#101 Cici on 05.09.21 at 8:40 pm

Average income-earners can no longer afford average homes

______________________________________________

Umm, I think it’s now safe to say that in many markets, above-average and even high-income earners cannot afford the ticket price. And who exactly can afford to pay $1 million over asking? The only people I can think of with that kind of money would be the realtors themselves or their developer friends.

I think what we need, in this cold, cold tundra, is more than “smart” Remax dudes finally waking up and realizing that this blind-bidding/auction process could cause a huge correction. The fact that they’ve taken notice at all and that they are actually talking about it openly in public leads me to believe that we’ve already paddled just a little too far up $H**’s Creek and are running out of buyers. And/or that the bank’s and lender’s balance sheets are starting to head into the danger zone.

There’s a lot they need to do going forward to fix this. Namely, more regulation. Speculator taxes are not enough, there should be more transparency in general. And although housing is not considered a “right” in this country, speculation is running way too rampant, so something should be done to limit how many residential properties any one party can purchase and hold at any given time.

As far as I can see, the top 10% is holding the rest of the population hostage in terms of housing, and this is a ticking time-bomb because the youngins are either spending way too much time in Mommy’s basement or, if they’ve ventured out on their own, are spending way too high a percentage of their total income on rent, which means they can’t save up for a downpayment, let alone retirement. The other problem is that even a lot of the “haves” (or think they’re “haves”) in society, who got on the property ladder at the right time, can’t stop “moving up” and have obscene levels of debt, most of which is mortgage debt. I wonder how many are heading into their 60s with $1 million in equity but a $500,000 mortgage and no other savings. Or worse. I wouldn’t be surprised if many of the speckers are so leveraged that their debt far surpasses their net worth equity.

Scary, scary times.

#102 Armpit on 05.09.21 at 8:51 pm

The Real Estate Market is in Fraudulent Territory.

I have no concerns for those who overpay a house and take a conventional mortgage. If they default, they have to answer to the Lender – who absorbed all the risks.

There is no way a Bank or Lender would lend a Mortgage under $1 million on an overpriced blind bid purchase if it wasn’t insured by CMHC.

The Banks/Mortgage Lenders are 100% protected!!!!

Should the Real Estate Market Collapse, and there isn’t enough funds in the CMHC insurance, We the Taxpayers will ante up the difference – (along with the Covid Deficit.

The Madness must stop.

#103 Tudval on 05.09.21 at 9:14 pm

Pure nonsense, Not one of your arguments make sense. First off, there’s ZERO proof an open auction would result in “lower price inflation” BTW, what gives you the idea that a seller isn’t entitled to the highest price the market can bear?? There are clear rules on mortgage underwriting and they are even tighter that is reasonable. So in Australia they have open bidding and prices are probably even higher. And you are exaggerating what’s going on.. lots of properties on the market are not attracting multiple offers.

For more education on the subject you can read https://www.openagent.com.au/blog/how-a-property-auction-works

In a most desirable areas, potential buyers may have many different uses for a property and value it differently (builder, renovator, end user, investor/landlord)

“Properties which are difficult to value due to their unusual features can benefit from auctions, as there is no better way to determine the true value of a property at any given time”

#104 Wrk.dover on 05.09.21 at 9:14 pm

#89 Nonplused on 05.09.21 at 7:35 pm

The rich are still paying premium prices for ocean front property.

________________________________

That is why I ‘settled’ for ocean side. All of the views (except inter-tidal), but none of the erosion or trespassers.

(ocean side in Florida parlance means across the road, not sure if that’s a term elsewhere, such as here)

#105 Dogman01 on 05.09.21 at 9:16 pm

#64 The West on 05.09.21 at 4:36 pm

Whose side is she on, again?

——————————————-

Plutocrats: by Chrystia Freeland
https://www.goodreads.com/book/show/15797932-plutocrats

I read this last month:
Yes – Largely it is quite fawning over the super rich.

The conclusions are interesting:
– we need to allow, reward and enable success.
– broad social benefits accrue from new ideas and innovation
– the danger to society that today’s plutocrats pose is that they will “pull up the ladder” and exclude everyone else to avoid risk to their position.
– the nobles of Venice did this in the 1400’s and Venice stagnated soon after.

http://thediagonal.com/2012/10/21/la-serrata-why-the-rise-always-followed-by-the-fall/

“Extractive states are controlled by ruling elites whose objective is to extract as much wealth as they can from the rest of society. Inclusive states give everyone access to economic opportunity; often, greater inclusiveness creates more prosperity, which creates an incentive for ever greater inclusiveness.”

#106 Dr V on 05.09.21 at 9:18 pm

73 Ponz

I’d be more worried about liquefaction in Richmond

https://metrovanmicromap.ca/liquefaction-susceptibility/

BC flood plain maps by region

https://www2.gov.bc.ca/gov/content/environment/air-land-water/water/drought-flooding-dikes-dams/integrated-flood-hazard-management/flood-hazard-land-use-management/floodplain-mapping/floodplain-maps-by-region

#107 George S on 05.09.21 at 9:21 pm

#88 Damifino said:
“The more desperate suckers there are on the line, the better this works for you.

As far as sleeping at night… that’s your problem.”

A number of years ago in an episode of the Simpsons Marge asked Ranier Wolfcastle “how do you sleep at night?” (It was something to do with the terrible violence in his movies)
His reply was:

“On a big pile of money with many beautiful women”

The buyers of these houses have money to burn and no common sense. Nobody is “desperate”.
Open auctions can be worse than blind auctions. They are way easier to “nickel and dime” someone way over their head. There are strange things done at open auctions. Farm auctions can be extremely interesting.

If you have a process that can be used to extract $50 million from someone for a NFT on some digital art work it is a pretty effective money making tool.

I guess when you think about it the entire stock market is like a giant open auction. If there is a demand for a stock the price goes up until the supply just meets the demand.

Years ago I was looking for a used Playstation for the kids. I went to a pawn shop and noticed that they were selling used PSs for $20 more than a new one at Wal Mart. I asked what was going on and the guy told me, we were selling all we could get really quickly so we raised the price until we had one or two on the shelf all the time. If we get too many on the shelf then we drop the price.

#108 VladTor on 05.09.21 at 9:22 pm

#100 Damifino

…..If an offer of $750K should come in before you accepted the first one

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

Dear Damifino, I can’t understand you. May be b’s Sunday evening.

First, why somebody should make offer 750K if he/she know that declared price is 700K and he know that seller MUST sell house on this price by law – it was his decision for this price. He/she did market research before listing and declared price which is affordable for him. Delist and list again after a month if you see hot market – but do it before first offer came. Somebody can make offer 750K but for what? If I know that somebody try to buy for 700K after offer 750K and he will be refused – seller will have problem by LOW! Don’t sleep, act quickly and you will be first for price 700K. Or wait – may be first seller cancel his offer for some reason and you buy it. Simple!

I forgot mention, with this rule, which fixing seller price when listing, should be another rule in addition. After house sold – by low should be shown sold price. This is additional check that seller follow rule about declaring price when he list house.

#109 S.Bby on 05.09.21 at 9:22 pm

#95 Happy Renter

Or find another rental instead of blowing the bank to buy a place?

#110 Galt on 05.09.21 at 9:23 pm

DELETED

#111 S.Bby on 05.09.21 at 9:25 pm

#86
RE agents are going to need bodyguards soon;

I live near one of the most successful realtors in Burnaby and their house is like a fortress with gates, security cameras, Vicious Dog signs all over.

#112 TrueLies on 05.09.21 at 9:34 pm

#51 G on 05.09.21 at 3:41 pm

DELETED. No conspiracy crap from Bitchute. – Garth
===================================

I’ve this kind of exchange several times now – seems to hit a cord:

Me: Do you think conspiracies EVER happen?
Person: Of course!

Me: So, you admit that some events probabkt ARE conspiracies while others are not?
Person: Yes.

Me: How do you tell them apart?
Person: hmmm…good question!

Point being – the vast majority don’t spend any time trying to separate real conspiracies from factual events.
Just as most people trust [email protected] for the life savings – because investing is … hard.

FWIW – Bitchute is a platform as YouTube is. Lots of good things in YT and lots of crap too. I’m sure same could be said of Bitchute but…censorship.

truelies

It’s a moderated blog. Suck it up. – Garth

#113 Tudval on 05.09.21 at 9:39 pm

And what about this “Canada Ranks No. 1 in 2021 U.S. News Best Countries Ranking”… I am not saying it, but I’m not the one deciding what’s best for most people. But surely being named #1 country goes hand in hand with a hot housing market.

https://www.usnews.com/news/best-countries/articles/us-news-unveils-best-countries-rankings

#114 ImGonnaBeSick on 05.09.21 at 9:42 pm

#44 Joseph R. on 05.09.21 at 2:42 pm

Blah, blah, blah …” tHe RiGht To pUt fELloW ciTiZenS iN dAnGEr”.

I love it when I see these trained talking points… Well, two years ago you had that “right”.. you still free to travel, go to work, go to the gym, go to the grocery store, go to church, etc. even if you had the flu, or a cold, or measles… I’m not saying it’s morally correct, but you absolutely had this “right”…

Be careful being a cheerleader to lost freedoms…

#115 crowdedelevatorfartz on 05.09.21 at 9:55 pm

@#111 S BBY
“I live near one of the most successful realtors in Burnaby and their house is like a fortress with gates, security cameras, Vicious Dog signs all over.”

++++

Karma?

#116 Faron on 05.09.21 at 9:58 pm

#92 Nonplused on 05.09.21 at 7:48 pm

#65 crowdedelevatorfartz on 05.09.21 at 4:42 pm
@#57 Sail Away

Don’t you guys realize that you are fishing at the business end of the sewer pipe by re-iterating the GOP’s talking points about trans rights that are designed to re-unify the party following Trump’s leaving it shambles? Good, I thought so. Withwings has it right, it’s a non-issue just as gay marriage was a non-issue that was used to get righties to rally around something so that the wealthy could fleece the poor conservative if not the rest of us.

IMO

#117 Doug t on 05.09.21 at 10:02 pm

#94 fishman

Garth’s Son asks whats next? food prices. Food is my cash flow. R/E is my wealth. Food biz is weird. Last year I left 25,000 lbs of ling cod in the water. This is quota that I own & can legally harvest. Yet, we come in with a load of red springs for Lox. Price so high only the ultra rich could afford slices with their cream cheese & crackers. A grandfather burnt his wheat in the fields on the prairies during the dirty thirties while people were hungry. And dying by the millions of starvation in the Ukraine.
Big upheavals in the supply chain. Capital & transportation costs exploding. Bourgeois wholesale seafood prices are lower & demand is soft. Elites seafood good demand, strong wholesale price. The poor been priced out long ago. Everbody from the biggies like Sysco to the mom & pops are crowding the direct market scene. Farmers tell me that grain is way up but so is fertilizer & fuel. There could be lower food prices as we fight for market with bumper crops & too many entrants. Wholesalers brought order to the system but are getting squeezed out. Japan or China easily & often just outbid. Only the overseas rich get the good stuff. Disorder in the food industry. Stress,panic,desperation as the weak get eaten. Big guy takes the pot. Shortages, gluts,price wars, price gauging, supply chain breakdowns, consolidation. These have always been but this time is different. The swings will mirror our economy. Violent, swift, massive. A good backup plan is gold,garden & gun.

THIS is the future

#118 Xdee on 05.09.21 at 10:11 pm

DELETED (Anti-vax)

#119 Doug in London on 05.09.21 at 10:36 pm

@Nonplused, post #89:
The climate has changed and is changing, and among the effects are more extreme weather events. As for the rich buying ocean front property, a wise owner would sell NOW and get a premium price. That’s especially true for low lying land further south where hurricanes and storm surges occur. If you wait too long you could actually find it harder to sell. Selling now would be like selling all your Nortel shares in 2000 when the price went to $120 per share.

#120 the Jaguar on 05.09.21 at 10:38 pm

Next to BillyBob, I enjoy the comments of Fishman,( #94 fishman on 05.09.21 at 7:54) who walks on the wild side, but has wonderful powers of observation and posts from great life experience. Jaguar doesn’t throw compliments easily to west coast inhabitants, but Fishman is a gem. (P.S., I am also very fond of DON.)

There is what is right in front of us, but more importantly what is immediately behind it, which requires boots on the ground and vision.

I wonder if Garth, Doug, Ryan, or Sinan might also speak to stagnation versus inflation in some upcoming post.
We are only a few months away now from the Merlin engines starting up. Mercy.

#121 AM in MN on 05.09.21 at 10:39 pm

#28 Doug in London on 05.09.21 at 1:26 pm

I read in Saturday’s Globe and Mail about how some houses in Oakville that never used to be in a flood prone area are now, partly due to climate change and partly because more development leads to more runoff during a storm. If you have one of those flood prone houses, you’d be wise to sell it RIGHT NOW, while the markets are still totally out of touch with sanity.

—————————————————–

That is why no one who thinks for themselves trusts any mainstream news outlets anymore, it’s all political propaganda.

There is absolutely no evidence of any kind that backs up more rainfall and more flooding in Oakville due to global warming. They have rainfall records going back to when it was first settled a couple hundred years ago.

#122 Milton Friedman on 05.09.21 at 10:43 pm

A friend I know used to pay $160hh for escorts, but now they are demanding him to pay extra money. This is INFLATION.

#123 45north on 05.09.21 at 10:45 pm

Cici
There’s a lot they need to do going forward to fix this. Namely, more regulation. Speculator taxes are not enough, there should be more transparency in general. And although housing is not considered a “right” in this country, speculation is running way too rampant, so something should be done to limit how many residential properties any one party can purchase and hold at any given time.

we’re past fixing this

“housing is not considered a “right”

Government position is that housing is a human right but the government has allowed the housing bubble to inflate – to such an extent that the “right of housing” for significant numbers of people is threatened. The government has control of a number of factors which have inflated the housing bubble. The biggest factor is the government deficit. Other factors are the interest rate, CMHC rules and the Bank of Canada who has introduced the Mortgage Bond Purchasing Program (CMBP). The government has control of these factors and has used them to inflate the housing bubble.

Once the market collapses, it would be perverse for it to claim that the “private sector” has failed to provide for this human right and therefore the government needs more powers.

#124 Zen Investor on 05.09.21 at 11:01 pm

The alternative to auction is government housing ghettos. What the hell is wrong with a seller getting top dollar for their property? This socialist crap is getting out of hand. Here’s a solution for disgruntled FOMO…don’t buy !! It’s not a right to buy low and sell high…because the FOMO buyers become speculators on a rising market as soon as the own.

#125 espressobob on 05.09.21 at 11:20 pm

My thanks to those that don’t have their heads stuck up their asses and got vaccinated.

Thank you for not being opinionated and doing the right thing.

We all want our lifestyles back. For those anti vaxxers, my sympathy. Thanks for nothing.

#126 Benjamin on 05.09.21 at 11:32 pm

A nation of Greater Fools, led by Fools. creating an economy of debt.

Pump it harder! Inflate!

#127 Damifino on 05.09.21 at 11:35 pm

#107 George S

The buyers of these houses have money to burn and no common sense. Nobody is “desperate”.
———————————

Not what I’ve been hearing. Instead it’s thousands of angry Millennials bitching about being forever denied a start in the RE market as prices drift further and further out of reach.

The standard complaint is that they’re perpetually squeezed out by a rigged system. If they really had money to burn they would not be experiencing FOMO.

I agree with the “no common sense part” though.

#128 Joseph R. on 05.09.21 at 11:46 pm

#114 ImGonnaBeSick on 05.09.21 at 9:42 pm
#44 Joseph R. on 05.09.21 at 2:42 pm

Blah, blah, blah …” tHe RiGht To pUt fELloW ciTiZenS iN dAnGEr”.

I love it when I see these trained talking points… Well, two years ago you had that “right”.. you still free to travel, go to work, go to the gym, go to the grocery store, go to church, etc. even if you had the flu, or a cold, or measles… I’m not saying it’s morally correct, but you absolutely had this “right”…

Be careful being a cheerleader to lost freedoms…

—————————————————————

You still have the right to go to church, to go to the grocers, go to work. You simply have to change your habits. Yeah, it sucks. The Silent Generation (Pre-Boomers) had it a lot harder than us; I only lost work time

Well, maybe next time you’ll realize other people have Rights too, including the right to be free from your germs.

#129 westcdn on 05.09.21 at 11:51 pm

One thing I like about equities is I get to see bid and ask. Not that I trust them as there are front runners but I do get where the sediment is and I am patient. I do walk away as there are more birds in the forest.

When I target something, it is hard to push me off. I stick to my price or lose. There is a farmer in my soul. Killing trees was harvesting to me though 30 years is a long time to grow back. I did what I could to make sure it happened. I made space and was ready to plant seedings. Like of good intentions…

I don’t give up. I will answer and deal with my errors. I have made many mistakes and think I have paid. God does not think it is enough – okay big guy. Keeping me around is not fun. Just take care of the people I like.

I don’t what is going on but I am selling my resurrected zombie equities – bqe/htl/fox. I am looking at buying more ifx, cwx, chw then there is buying down margin.
Choose your poison.

#130 J.Morris on 05.10.21 at 12:24 am

with 200 RE:Agents vying for 200 Listings from QB to Duncan, all is not well in paradise

#131 Nonplused on 05.10.21 at 12:48 am

#104 Wrk.dover on 05.09.21 at 9:14 pm
#89 Nonplused on 05.09.21 at 7:35 pm

The rich are still paying premium prices for ocean front property.

________________________________

That is why I ‘settled’ for ocean side. All of the views (except inter-tidal), but none of the erosion or trespassers.

(ocean side in Florida parlance means across the road, not sure if that’s a term elsewhere, such as here)

————————————

My point is that the rich do not seem to be too worried that their properties are going to be underwater anytime soon. Including their private islands.

I believe climate change is happening, and some warming has been observed on the order of a half a degree or so maybe 1 degree. But nothing outside the last 100 years of observable data has happened besides of course the glaciers are in recession (not like that hasn’t happened before) and the oceans have risen a bit as a result (also not unusual). The doom and gloom is all in the forecasts. It is something to worry about, but not the most compelling issue as of today.

Ideas are funny things. If you are not careful, they can take over your mind even if you didn’t come up with them. “Memes” as Rickard Dawkins called them, to compare them to “genes”, not what we call “memes” today. The original definition was more like “viral ideas” rather than “funny cat photos”.

In the original definition, BLM is a meme. ANTIFA is a meme. Religion is a set of memes. A Ticktok video is not.

Problem is, memes are contagious. It is how normally reasonable persons can come to the conclusion that all we need to do to solve the world’s problems are build more wind turbines, despite the fact they are everywhere and still contribute less than 3% to world electricity production. They see the wind turbines, people tell them the turbines are the solution, and they go “oh, problem solved”. Nobody stops to think we need millions more of these things and then they only last 20 years.

#132 What a Joke on 05.10.21 at 2:03 am

The Bank of Montreal wants to end blind auctions? Oh really? The banking industry happily funds these outrageous valuations. They never seem to have any problem with the appraisal attached to their mortgages. In case anybody forgot, it’s the DUTY of the Listing Broker to get the highest price for their Seller. Is there a SINGLE SELLER out there willing to accept less of a sale price to satisfy the Bank of Montreal’s cry for help? Get REAL people. The banks fund these outrageous sale prices happily! You want to divert blame away from the real culprits look no further than the banking industry and the Federal Government who supply the river of mortgage funds at outrageously low interest rates with the Governments CMHC blind guarantee.

#133 Real estate on 05.10.21 at 7:47 am

Venting on a blog won’t accomplish squat. Reach out to your local MP.

And for heaven’s sake don’t vote the same idiot back as PM. Learn from your mistakes, we reap what we sow

Real estate brokers are provincially regulated. MPs have no role to play. – Garth

#134 the Jaguar on 05.10.21 at 7:51 am

From this mornings N.P.
I see this as a cry and call for ‘annexation”. Maybe take the East Kootenay valley as well….

“The B.C. government is discouraging Alberta tourists from visiting. In Fernie, in southeastern B.C., the executive director of the local Chamber of Commerce said visitors from Alberta have traditionally accounted for the majority of the town’s total business.

“Fernie might as well be in Alberta for all intents and purposes. We’re that reliant on Albertans, obviously in the tourism industry, but in our economy at large,” Brad Parsell said.”

Oh, and to NonPlused: At the end of the day it’s really about this:

Mitigation is an intervention to reduce the emissions sources or enhance the sinks of greenhouse gases. Adaptation is an ‘adjustment in natural or human systems in response to actual or expected climatic stimuli or their effects, which moderates harm or exploits beneficial opportunities’.

With the horse out of the barn, the former won’t do the trick, so the really way through is the second option.

#135 the Jaguar on 05.10.21 at 7:53 am

…the real way through…

#136 crowdedelevatorfartz on 05.10.21 at 8:05 am

@#116 faron
“by re-iterating the GOP’s talking points about trans rights that are designed to re-unify the party….”

++++

Uhhh. No.

Merely stating the obvious.
Nothing nefarious. Nothing bigoted. Just stating facts.
Which the “woke” , coaches, sponsors and athletes are also waking up to.
More and more female athletes are losing ranked competitions to transitioned female athletes.

Admit it or not.
This will be an issue that will get more and more discussion in sporting events moving forward no matter how many people scream bias.
As Arthur Ashe( world ranked tennis player) once stated to Billie Jean King ( work ranked tennis player) when she complained in an interview ( in front of Ashe) that women should be paid the same amount of prize money to tennis.

“Lets face it.
Sport is entertainment.
People dont need to pay for, or watch, tennis to survive.
It’s a show. Nothing more.
If people want to pay more to watch mens tennis, they will. If they want to pay more to watch women’s tennis, they will.”

If trans females begin dominating all areas of female sports…will people pay to watch?
THATS what coaches, universities, and professional players( the enlightened WOKE crowd?) are all concerned about.

#137 Franco on 05.10.21 at 8:06 am

At this rate, Toronto and Vancouver houses will be $5 million in less than 10 years.

Of course not. But thanks for irresponsibly feeding FOMO. – Garth

#138 Guelph Guru on 05.10.21 at 8:10 am

The owner of the property has the right to dispose his property in any manner of his choosing. He/she is trying to maximise the profit.
Is it ethical. Probably not.
Should it be regulated? Open for debate.

#139 Dave Williams on 05.10.21 at 8:35 am

There is a simple way to fix all this craziness with realtors: flat rate commissions. You could (I wouldn’t) have a few tiers I suppose but I prefer one tier – a realtor makes the same commission whether the house is $50k or $5M. So so many benefits to this approach.

#140 real estate on 05.10.21 at 8:39 am

Real estate brokers are provincially regulated. MPs have no role to play. – Garth

………

thnks, but i’m talking about Federal involvement to address our real estate nonsense as the Kiwi’s have

Or perhaps our brilliant PM cant multi-task and/or needs the RE tax revenue ?….ship likely has sailed , unfortunately, best wishes young generation. And thanks Trudeau for being on the ball, he’s managed to mismanage covid and turn a blind eye to RE, double whammy

#141 IHCTD9 on 05.10.21 at 8:40 am

#6 Flop… on 05.09.21 at 12:07 pm
#82 IHCTD9 on 05.09.21 at 9:12 am
#62 crowdedelevatorfartz on 05.08.21 at 8:03 pm

How high will fuel prices go this year?

———-

1.60. Unless you live in BC, then figure 2.00, with insurance rates to match.

————————————————–

Hey Trackie, I have some good news on this front.

Well not good, just a little better.

ICBC our insurance behemoth has started to beat its own backside with a massive overhaul and guys like me are starting to benefit.

I recently received $170 rebate for being a good boy last year and washing my truck regularly and keeping my vehicle from contracting COVID.
——-

That’s good to hear flop, hopefully they keep hacking. Anyone who’s been driving 30+ years with a good history should be paying under a grand/yr IMHO on a normal run of the mill mass produced vehicle.

I pay 600.00 or so per year, got a 50.00 COVID cheque last year too. I could save 10% more if I let them track me thru downloading their app – I’m going to pass on that one.

#142 ts on 05.10.21 at 9:29 am

#80 Where’s My Taxes Going Greedeau?

Too bad we don’t have more journalists like Rex Murphy who aren’t afraid to report the truth. He’s right. We are becoming more like China and North Korea. Not only is Canada becoming economically bankrupt (with debt that not only our children, but grandchildren will have to pay), but morally as well. Wake up Canada or we will no longer be “The True North, strong and free”.

#143 Phylis on 05.10.21 at 9:44 am

#136 crowdedelevatorfartz on 05.10.21 at 8:05 am
@#116 faron
“by re-iterating the GOP’s talking points about trans rights that are designed to re-unify the party….”

++++

Uhhh. No.

Merely stating the obvious.
Nothing nefarious. Nothing bigoted. Just stating facts.
Which the “woke” , coaches, sponsors and athletes are also waking up to.
More and more female athletes are losing ranked competitions to transitioned female athletes.

Admit it or not.
This will be an issue that will get more and more discussion in sporting events moving forward no matter how many people scream bias.
As Arthur Ashe( world ranked tennis player) once stated to Billie Jean King ( work ranked tennis player) when she complained in an interview ( in front of Ashe) that women should be paid the same amount of prize money to tennis.

“Lets face it.
Sport is entertainment.
People dont need to pay for, or watch, tennis to survive.
It’s a show. Nothing more.
If people want to pay more to watch mens tennis, they will. If they want to pay more to watch women’s tennis, they will.”

If trans females begin dominating all areas of female sports…will people pay to watch?
THATS what coaches, universities, and professional players( the enlightened WOKE crowd?) are all concerned about.
Xxxxxxxxx
You will know when an “open” tournament is actually “open” andpromoted as such. Let’s see who is first.

#144 Dharma Bum on 05.10.21 at 10:07 am

ALWAYS offer under asking.

Old school!

Boomers rule.

#145 Ponzius Pilatus on 05.10.21 at 10:25 am

#144 Dharma Bum on 05.10.21 at 10:07 am
ALWAYS offer under asking.

Old school!

Boomers rule.
———————
In certain cultures, they don’t take you seriously if you wanna pay the asking price.
Haggling is part of their life.

#146 Doug in London on 05.10.21 at 10:44 am

@AM in MN, post #121:
You’re looking at the past when you need to look ahead to the future. What was once a 100 year flood is occurring more frequently. Just ask anyone who saw Hurricane Harvey that dumped a year’s worth of rain on Houston in 5 days. Nothing like that could happen in Oakville? Remember the extreme rainfall event that hit Toronto in July 2013? How about the exceptionally high level of Lake Ontario in spring and early summer of 2017? You can buy a house in a low lying area that could get flooded if you wish, but I’ll buy or rent a place on higher ground. I take climate change into account in deciding where I’ll put my money.

#147 Sail Away on 05.10.21 at 10:45 am

Re: trans athletes

Wow! Breaking records!

https://nationalpost.com/news/canada/by-winning-a-canadian-transgender-cyclist-fans-flames-of-gender-politics

#148 Sail Away on 05.10.21 at 10:50 am

After self-identifying as an 11-year old, my 27yo cousin has been smoking the 12 & under Tae Kwon Do division.

#149 G on 05.10.21 at 11:03 am

Hi Garth, ok, heard your message in #51. I will try and refrain accordingly. (BTW, If I haven’t said it, I’d like to come to find out that it/I am just plan incorrect on that also.)

re: home sale cost, one example from last week:

Last week found flyer in mail box from sales agent about local town house condo (If you don’t know, you only own from the inside walls with a condo and there are added condo fees, plus the taxes, heat, electrical, water, gas, internet, food, etch.) in Oakville that said:

“Just Sold For Record Price!
unit# & address
Asking Prices $699,888 SOLD FOR $800,000
(My quick math, it went for $100,112 or 14.3% over asking.)
Flyer showed pix of front of home, then:

There are several Buyers!
This is an unprecedented time in the real estate market. Every home that is properly marketed sells for thousands of dollars over the asking price.
List with… and you will receive the following.
Marketing Package 100% Free:
– FREE Custom-made website for your home (will buy property address as web domain).
– FREE Professional Staging or even virtual staging.
– FREE HD professional photography.
– FREE 3D interactive virtual tour.
(whom the argent is and contact info. for them.)

Based on the for sale sign by road it wasn’t on market for more than a week or so I’d guess.

#150 the jaguar on 05.10.21 at 11:14 am

CEF
Loved that Arthur Ash quote. Totally agree. You cannot force people to attend events based on anything other than personal interest. Amen.

#151 Doug t on 05.10.21 at 11:19 am

#148 SAILAWAY

CLASSIC lol

#152 Dr V on 05.10.21 at 11:58 am

147 sail – old news.

#153 IHCTD9 on 05.10.21 at 12:12 pm

#136 crowdedelevatorfartz on 05.10.21 at 8:05 am
@#116 faron
“by re-iterating the GOP’s talking points about trans rights that are designed to re-unify the party….”

++++

Uhhh. No.

Merely stating the obvious.
Nothing nefarious. Nothing bigoted. Just stating facts.
Which the “woke” , coaches, sponsors and athletes are also waking up to.
More and more female athletes are losing ranked competitions to transitioned female athletes.
————-

Yep, it’s a forgone conclusion. It sucks for female athletes, but there will come a day (in the West) where some Women’s sports will see a permanent decline in Women making a serious effort to compete at the highest levels. Decades from now, they just won’t be competitive generally speaking at the elite level depending on the sport.

It’s no different than a Caucasian dude understanding he’s not likely to become a World Heavyweight Boxing champion. The same thing as an Asian guy accepting he’ll probably never win an Open IPF Powerlifting competition.

So, if Trans Women are destined to compete directly against cis gendered Women, then in some sports, cis-Women will have to make the same peace with probably never making it to the top, as many other athletes have had to do. And when they do, we can expect to see the same thing as we see in boxing and powerlifting where there is a definite, indisputable trend with who always seems to be standing on the podium…

#154 Faron on 05.10.21 at 12:23 pm

#147 Sail Away on 05.10.21 at 10:45 am

Re: trans athletes

Wow! Breaking records!

https://nationalpost.com/news/canada/by-winning-a-canadian-transgender-cyclist-fans-flames-of-gender-politics

#148 Sail Away on 05.10.21 at 10:50 am

Such a hot topic you had to go back 3 years to find an article in which the competing athletes were fine with the outcome despite the 3rd place grousing. Meanwhile hundreds if not thousands of trans kids will soon be unable to compete in sport if the US bills pass. There’s far more harm in that.

If your 27 y.o. wants to identify as an 11 y.o. he’s clearly a creepy douche.

Trans politics is the Right’s new gay marriage. They will lose the battle but will win some seats in Congress in the mean time. Power is all that is cared about.

#155 Faron on 05.10.21 at 12:40 pm

#153 IHCTD9 on 05.10.21 at 12:12 pm

Google “chinese gold medal weightlifting”

If you think there will be a decline in competition among women born with vaginas, you have zero insight into competitive sport and the mindset and work ethic of elite athletes. I know a fair number of collegiate and elite level female athletes and their drive to throw down will never be quenched.

It’s good to know I’m not the only one here who reflexively falls in line with my political cohort. We’ve established that free thinking is a scarce resource here if little else.

I’m not going to waste any more of Garth’s or my time on this. Feel free to waste yours.

#156 Faron on 05.10.21 at 12:44 pm

#151 Doug t on 05.10.21 at 11:19 am

#148 SAILAWAY

CLASSIC lol inflammatory and irrelevant

Fixed it for you

#157 IHCTD9 on 05.10.21 at 1:26 pm

#155 Faron on 05.10.21 at 12:40 pm
#153 IHCTD9 on 05.10.21 at 12:12 pm

Google “chinese gold medal weightlifting”

If you think there will be a decline in competition among women born with vaginas, you have zero insight into competitive sport and the mindset and work ethic of elite athletes. I know a fair number of collegiate and elite level female athletes and their drive to throw down will never be quenched.
———-

I Googled the Chinese weightlifting, all I saw was Olympic style lifting which is weight classed. I said **open class IPF Powerlifting** – ie. the biggest baddest lifters on the planet. The best.

I also never said anything about a “decline in competition among women born with vaginas”, I said in some sports, cis gendered Women may start throwing in the towel realizing the deck is stacked against them (like whites in boxing, and Asians in powerlifting). So, I’ll breeze past that paragraph as well.

The last few sentences you wrote were irrelevant to anything in my OP, so I’ll breeze that one too.

#158 IHCTD9 on 05.10.21 at 2:00 pm

#155 Faron on 05.10.21 at 12:40 pm
#153 IHCTD9 on 05.10.21 at 12:12 pm

Google “chinese gold medal weightlifting”
—— –

I did a little more Googling for Chinese *Powerlifters*, and I think I found the baddest mofo in China:

Yue Yang

https://nextshark.com/powerlifter-yue-yang/

What a beast! This guy does Powerlifting, not “weightlifting”. Pound for Pound, Chinese dudes are probably the best in the world for weightlifting, but once you exit the weight classes and compete internationally in open class Powerlifting, size matters.

Yue competes at 330 lbs and has benched 617 in training. That is probably the record in China.

#159 Canadarm 2 on 05.10.21 at 3:55 pm

One way to absolutely curtail the craziness is to remove the commission aspect and make realtors salaried. With no skin in the game then, real estate transactions simply become what a bank is willing to lend and then you’d get a more realistic “appraisal” by the agents.

#160 Steven Rowlandson on 05.10.21 at 6:40 pm

Can you say crime against humanity?

Can we say drama queen? – Garth

#161 greaterfool on 05.10.21 at 7:30 pm

Can anyone tell me what’s the value RE agents bring to either buyer or seller which justify the commision they received?