Imagine if, for a lousy hundred bucks, you could become a real estate investor. Own a piece of a property. Collect income. Be a rentier capitalist landed-gentry dude. And stop watching the endless parade of housing profits pass you by. It’s a Millennial-Gen Z dream come true.
Enter Willow.
“Property for the People,” says the butter-slick site.
We believe everyone deserves the opportunity to invest in real estate and have access to sustainable wealth creation. We enable this through PropSharing. PropSharing allows you to purchase fractions of real estate for as little as $100, and create a custom portfolio of properties to buy and sell as you please. PropSharing elevates the real estate investing for everyone; no middlemen, no costly barriers – and you don’t have to be a landlord.
Willow is largely the creation of Logan Yergens, is headquartered in Toronto, and has recently launched after securing initial capital through crowdfunding. The appeal is obvious. This is a country where two-thirds of citizens cannot afford to buy residential real estate, based on current incomes. House prices have gone nuts. Windfall, unearned gains have been showered upon owners. It takes decades to save down payments and younger buyers have been largely locked out. FOMO is raging along with the hormones of nesting families. Willow may not give you a backyard, but it does hold out hope.
The pitch:
PropSharing allows investors to buy and sell shares in property the same way they do the stock market. Properties are split into shares and offered for sale on the platform. Legal ownership is standardized and properties are managed by professional property managers. Participants can build a custom portfolio and trade ownership anytime on the exchange.
PropSharing is the barrier buster which allows everyone to enter the real estate market. It empowers the individual, not the middleman. It grows wealth in real estate whether an investor owns their home or not. Willow created PropSharing by building a platform that solves the complexities of real estate. Now the asset that makes so much sense on paper, makes sense in real life.
Is this a good idea? Does it fill in the missing gap in an investment portfolio – residential property – while giving jilted prospective house buyers a slice of equity? Is this new form of ownership the legitimate, inevitable future of real estate? Are the founders – Yergens, Michael Hibberd and Ray Johannsson – geniuses? Or is this just another way to separate house-horny kids from their savings, which would be better stuck in a TFSA?
Full disclosure: in researching this post I reached out to Willow for more information, background and context. The company did not respond. (Update, May 31, 4 pm ET – a company official contacted me by telephone to offer information now incorporated into this post. Willow’s subsequent statement is published below.)
Since nothing happens in the world of publicly-offered securities without being recorded, the Offering Document filed with the Ontario Securities Commission offers some interesting information. It indicates Willow’s initial funding ($1.3 million) came from crowdsourcing. Those who bought in were not, according to the document, offered common stock (only preferred shares) and $569,000 (43%) of the offering amount went to administration costs and salaries for executives and developers. There is no indication in the document of the amount the principals invested personally. Maybe that’s smart. Perhaps it’s telling.
By the way, Yergens’ background includes being a researcher for mutual-fund selling Assante Financial and also a financial service rep for fund company CI. He appears to have learned a few things along the way, since Willow will earn money by collecting a fund-type MER of 1% from all investors, as well as a transaction fee and a real estate commission on properties.
Speaking of properties, this lies at the heart of Willow’s plan – to offer investors exposure to actual real estate. So, are there any addresses? At the moment there’s no public indication of assets held, but there is this explanation of how Willow intends to acquire them – using 100% financing and OPM (other people’s money):
We negotiate property purchase agreements which are conditional on a successful crowdfunding campaign, eliminating the need for Willow to use our capital to acquire properties. 50% of the capital is raised through equity and 50% is obtained via a mortgage. The equity portion is raised through crowdfunding on our platform. A total of 10,000 limited partnership units are sold, equating to 100% ownership of the property. All 10,000 units must be sold within an agreed upon timeframe in order for the acquisition to go through.
Also of interest is that Willow received a $30,000 payment through the Canada Emergency Business Account (Covid funds), of which it gets to keep 25%. Most of the additional million in seed money came from nine investors. They appear to be motivated in part by the founder’s suggestion that Willow can launch an IPO (initial public offering) and be worth a gazillion in 2024-5.
Maybe that will happen. Possibly not. People investing in a start-up like this, even with a modest initial amount, know the risk and weigh it against the potential return. Fair enough. The Willow guys did well to crowdfund their needs.
But whether this is a legitimate asset for unsophisticated investors is another question. Willow units will not be publicly traded and therefore be illiquid outside of the platform. Currently there’s no indication of what hard assets, exactly, any investor would own with their one 10,000th LP share. Meanwhile anyone can purchase units in a real estate investment trust (REIT) which are 100% liquid, trade on the open market, pay established returns and own iconic office towers, malls, apartment complexes and industrial plazas with huge income streams.
Maybe you should start there.
About the picture: “My husband and I are both huge fans of your posts, appreciate the wisdom you give, and love the dog pics that lead them,” writes Mel. “Here is our Choc Lab Stella. Currently 8 years old, living in North Vancouver. She’s a true goofball.”
Statement from Willow:
As referenced above, Willow did not respond to a request for information prior to this post being written. As a result many facts were taken from its Offering Document, filed with regulatory authorities. After this post was published, co-founder Mike Hibberd was in contact by telephone, and subsequently by email. Below are his comments. – Garth
- Statements that Willow uses blockchain.
- Willow does NOT use blockchain technology whatsoever.
- The company is the creation of Logan Yergens.
- Willow has 3 co-founders, Logan Yergens, Ray Johannsson, and myself.
- Willow did not initially respond to a request for comment.
- We would appreciate you remove that statement as well now that we have been in contact.
- The statement that $1.3M was raised through crowdfunding.
- The majority of our $1.33M round was raised from high net worth, sophisticated investors like our lead investors the Hardens. These investors did extensive due diligence, including reviews by third-party counsel, and negotiated the terms of the round. The crowdfunding investors got the benefit of extensive third party due diligence as a result. Less than $300,000 was raised through crowdfunding.
- The statement that no equity was offer
- This has no basis. All investors in that round received equity. As per the above, not only did investors get equity, but they got equity on some of the best terms offered to crowdfunding investors in Canadian history. The Hardens as our lead investor sit on our board and have oversight and protections put in place for all shareholders. These terms include, for example, protections against future “down-rounds” whereby if we raise money at a lower valuation shareholders in that round get additional shares as if they invested at the lower valuation. The shares are Preferred Shares which are consistent with North American Venture Capital Association industry best practices.
- The statement that half of the money went to administration costs and salaries for founders.
- This has no basis. As per the offering document you referenced, administrative fees consist of less than 4% of our use of funds, and our executive salaries consist of approximately 15%
- The suggestion that founders have not invested themselves
- Also included in the offering document you reference is the disclosure of my investment in the company prior to our Seed round. Beyond that, I can advise that the founders have put virtually everything they can into this project. Investments from founders and their immediate families total approximately $250,000 to date. Investments from friends and non-immediate family bring that number much higher.
Additionally, regarding fees and the competitiveness of our investment vehicle, Willow is drastically undercutting the competition. We reduce transaction fees for owning an investment property by over 80% and allow investors to build a custom real estate portfolio for less than the cost of the average mutual fund in Canada.
131 comments ↓
Willow.
Another illiquid real estate “investment”.
Easy to buy in…not so easy to sell out.
Shipping goods around the world….got very expensive in the last 12 months.
An unavoidable business expense moving forward….
https://financialpost.com/executive/posthaste-these-three-new-obstacles-are-keeping-canadian-businesses-up-at-night?__vfz=medium%3Dstandalone_content_recirculation_with_ads
This is probably the top of the bubble, when you see schemes that make no sense. We should finally see the froth come out. CEWS was extended, so that is probably prolonging employers from issuing pink slips. Once govt subsides are done, higher paying jobs will be eliminated. The govt pays 60k-70k of someone’s salary directly to the employer for not laying them off.
Sounds like the early days of a ponzi scheme. Pass.
Give the masses what they want.
Honestly, might quell some RE FOMO in some people and if specific property loses value then individual exposure would be limited, right?
Og
what a terrible idea
“It’s a Millennial-Gen Z dream come true.”
Will garth finally stop making fun of us poor millennials and start making fun of the zoomers instead?
Golly, gee whiz this sounds much better than that last thing I jumped into. A cyber currency that left a message telling people they’d been swindled and there was nothing they could do about it on their website. Where did you say I sign up again? I need to own some non-existent real estate also.
I am starting a fund of my own. I call it send new money old money all gone. Be setting up Venmo for participants soon.
Wonder if the founders of Willow will get bored soon realizing all the paperwork required to keep track of this…
It’s not a bad idea, just one that’s very early. It’s been tried in the USA, Europe and elsewhere but as others pointed out it’s easy to buy and not so easy to sell. The liquidity is not there, but also the inventory/supply side is not yet there. Most marketplaces currently allowing individual investors to invest in real restate projects have very few properties and there are many many caveats to be aware of.
I would characterize this as a very risky investment for now. For those with the ability to purchase real estate I think finding the right property in Toronto or elsewhere to buy (even with a co signer if possible) will give most people the ability to sleep at night knowing their investment is safe. Websites such as https://home.ca make it easier to keep an eye on the market and find the right property for you, but hey then again fractional ownership through blockchain and other emerging technologies will be a reality one day. I’m just not sure Willow will be the company to bring it to Canada.
RUN as fast as you can if you see this persons face walking towards you LOL
It’s not up yet from what I gather. You can only join a waitlist. I guess the properties are not bought yet.
Anyway, with this increase in prices, it makes sense that people invent all kinds of ways to profit. Look forward to see how things evolve.
Rock hard PASS, but thanks for asking.
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Anyway, with this increase in prices, it makes sense that people invent all kinds of ways to profit.
It also indicates peak pricing mania. Is now a good time to invest in strongly cash flow negative properties hoping for a capital gains windfall? Is there ever a good time for that?
Willow and WE, both start with the letter W.
There are many possible pitfalls and cash siphons in this property scheme. Luckily, engaging is voluntary. Let’s revisit in 2031.
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So much for April peak housing! Another glimmer of hope dashed with every rising house prices.
The market is still smoking hot thanks to Boomers cashing out and saddling their young with excessive debt. They then spread to every corner with their undeserved gains and jack the prices up for every manner of housing.
No longer confined to the GTA or MetroVancouver, you are witnessing a complete socio-economic shift where homeowners are the now the landed gentry. The divide has become so entrenched there is absolutely no going back.
Good thing the federal housing minister admitted that they created a market for foreign buyers and that it would be catastrophic for prices to retreat a mere 10% despite a 40% increase.
And while people like to think parabolic price increases are not sustainable, there is absolutely nothing, and I mean nothing, on the horizon that will prick the bubble:
– no federal initiatives since everything they do is window dressing;
– no feared recession after the withdrawal of federal benefits as Canadians have tons of accumulated savings waiting to be unleashed;
– no spike in foreclosures as homeowners equity massively increased;
– no curtailing of immigration as the backlog hundreds of thousands of immigrants and international students will soon be processed;
– no 1980s inflation increases, as rates will rise slowly without overwhelming mortgage renewals (take the time to do the math);
– no end to the intergenerational transfer of wealth to keep the party going, as the Bank of Mom and Dad keeps getting bigger with each price increase and the young keep getting bigger BOMAD down payments that fuel the prices increases.
The lesson for those that bought stocks in March is that the very same conditions that made stocks a buy, made housing a buy! Too bad all that chatter about massive unemployment, rising delinquencies, termination of federal benefits, and mortgage deferrals clouded the judgment of those fearing real estate.
The best time to buy real estate was yesterday. The next best time is today. Fortunately, that statement has been right for the last 20 years despite all the doom and gloom, and will continue to be going forward.
Plan accordingly buyers!
Yet another perversion of the real estate market. Kudos to Canada for this idiotic nonsense. I just checked an earlier version of “PropSharing” (aka buying a REIT, aka PropSharing 1.0 (TM-pending)) and one can buy XRE for $18.61.
In conclusion, $18.61 < $100.
Why incur Student Loan debt to work for minimum wage, when the retirees are making millions of dollars selling their homes that they bought on high school part-time incomes?
Toronto has a very bad job market where the rich like the Bay St moguls get richer, and the peasants have to compete for $14 per hour of labour?
Why incur Student Loan debt to work for minimum wage, when the retirees are making millions of Loonies selling their homes that they acquired on high school part-time incomes?
Canada has a very bad job market where the rich like the Bay St moguls get richer, and the peasants have to compete for $14 per hour of labour?
Is it fair that the Prime Minister investments have skyrocketed, that the Secretary to Housing laughs at Canadians while pleading to bear up with massive gains in real estate, while inflation is “transitory”
Speaking of Tory, did you know that the Mayor of Toronto, John Tory, his net worth became extremely high during the pandemic, like most politicians?
That was ridiculous. – Garth
I’ll take a REIT or REIT index in a heartbeat over this.
REIT’s are a beautiful thing.
I just don’t get why someone wouldn’t want a REIT instead
-But the hospital capacity guys! The hospital capacity.
WW3 spending levels – YES confirmed:
“Canada has spent more than $1.5 billion a day during pandemic, Toronto Star analysis finds
To find the total cost, the Star combed through the budget, StatsCan reports and annual fiscal updates. The result? Canada has spent more than twice as much on the pandemic as it spent on the Second World War. Story by @jacoblorinc”
—
— It’s over? No no. 2022-23 Minimum. Wait till they throw the ‘winter variants’ onto us.
.Ontario extends some COVID-19 orders past June 2, including ban on recreational camping and provincial border (toronto.ctvnews.ca)
. Newfoundland and Labrador increases COVID-19 restrictions in western regio (thepeterboroughexaminer.com)
. No fans in the stands: Ontario rejects calls to open up seats to health-care heroes for Game 7 Leafs-Habs showdown (thestar.com)
[email protected]_Baber
On Monday, PC MPPs will be forced to pass a motion giving @fordnation power to extend the Emergency Orders to December, without a vote or parliamentary debate.
…………..
— T2’s SOMA awaits. Turn on, Tune in and Drop out.
They’ll stone you just like they said they would.
.More Canadians turning to cannabis to help deal with pandemic pressures (cbc.ca)
I found the Willow investing video clip:
https://youtu.be/-DT7bX-B1Mg
@#17 Rinse and Repeat
“The best time to buy real estate was yesterday. The next best time is today. Fortunately, that statement has been right for the last 20 years despite all the doom and gloom, and will continue to be going forward”
+++
Devil’s Advocate I presume?
What is really going on in Kanada. We’ve been Balkanized. Into mini Health Dictatorship zones, each with their unique science.
– in QC curfews keep you healthy, but no where else.
– in Atlantic the Bubble keeps you healthy, but no where else.
– in BC, ON only Armed Checkpoints can ensure your health. (It’s unique here)
– Yukon? Still more science to contend with.
https://www.whitehorsestar.com/News/little-is-new-on-covid-19-front
“As of Tuesday, Yukoners and British Columbia residents who can prove their vaccination status can come into the territory without having to self-isolate for 14 days.
Travellers will need to agree to have the government search their health records as they pertain to vaccines, Silver said.
If they don’t agree to sign the waiver for the search, they will be obligated to serve the two-week isolation period.”
——-
—
On the ECONOMIC lockdowns. Great Joy in Ontariowe – our rulers finally will let us eat (only) outside – on patios again – in this 2021. Maybe in 2022 or 2023 our jailers will allow us inside the restaurant! In the mean time we are to be fed outside, as filthy barn animals. Else PeOpLe MiGhT gEt SiCk.
——
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No no no, not going away this New System:
https://twitter.com/rubiconcapital_/status/1398285575287984128?s=19
“Airports/airlines use different streams to separate vaccinated, partially vaccinated and unvaccinated travellers.”
Direct from the very troubling GovCan advisory document “Priority strategies to optimize testing and quarantine at Canada’s borders”.
https://canada.ca/en/health-canada/services/drugs-health-products/covid19-industry/medical-devices/testing-screening-advisory-panel/reports-summaries/priority-strategies-quarantine-borders.html#a2
Garth,
How is this guy different then the many tech companies that are not generating a profit for years on end?
Or generate a lame profit after many fiscals significantly in the red just to go on to IPO to prop their house of cards?
How many IPO scams were pulled this side of 2000 for worthless companies? Is there a link to the phonebook-like list somewhere someone could share?
Garth – you’re too old school. Kids want to get rich quick now. No time to wait for 7% annual returns. The thing to buy today is bitcoin again – it’s like nearly 1/2 the $80K price of 6 weeks ago dude. It’s going to triple and it’s backed by unicorn pee and fairy dreams! Or TSLA at 600 P/E. Someone buy it please!
At least this thing will have a few askew Toronto semis in the asset pool, right?
Just look into Logan Yergens eyes in that photo. He looks like a trustworthy guy. Honest boy. Most fathers here would give this guy the blessing to marry their daughter, right? Not at all like a serial number was cropped from the bottom.
At best this is a poor investment. At worst it’s ripe for fraud and probably a straight up ponzi scheme.
They’re charging a MER fee, a transaction fee, a property management fee, will be fully taxable on any gains (unlike personal residence), etc.
Just a horrible idea all around. I’m sure it will go up like a rocket for a short time though, much like other block-chain style “investments” as the crowds rush in to buy.
“Willow” is irrefutable evidence the tide has turned on the middle class. I’m not sure how this can be undone.
https://www.theatlantic.com/ideas/archive/2021/05/post-pandemic-dont-want-to-reenter-society/619045/
https://globalnews.ca/video/7908013/canada-launches-291m-black-entrepreneurship-loan-fund
Is “economics” a requirement for a “Drama Teacher” degree?
This is crazy.
#24 crowdedelevatorfartz on 05.31.21 at 1:11 pm
@#17 Rinse and Repeat
“The best time to buy real estate was yesterday. The next best time is today. Fortunately, that statement has been right for the last 20 years despite all the doom and gloom, and will continue to be going forward”
+++
Devil’s Advocate I presume?
——–
No, just another arm chair analyst who rightly acknowledges that the only people who have consistently been right for two decades are under-educated, self-serving realtors, developers, mortgage brokers, banks and boomers who constantly said ‘just get in the market.’
Caught a moment of Motoring on TSN following a Formula 1 race think.
Anyone who know this knows the Kenzie’s Korner bit maybe saw this. He threw out some stunning latest info.
Electric cars are 3% of the segment. Are only this much with heavy government subsidies for buying one.
Here is the kicker – average family income of electric car buyers is over $200K, so rich people are getting subsidized to buy these electric cars.
He has in the past pointed out about range anxiety, the fact that 40% of taxes come from gasoline and pay for school, roads, communities – and electric cars undermine that while getting tax breaks.
He also talks about the fact that studies show that electric cars aren’t that green, because the calculations often neglect the batter environmental costs or electricity generation costs. And in case of generation focus on CO2 not something like cost of disposing nuclear waste for 100s of years after fuel is spent.
Unless we get the life cycles of the batteries to improve, we’re going nowhere fast it appears and net result is a wash at best. Many efficient small gasoline engines to be had out there.
#30
He also talks about the fact that studies show that electric cars aren’t that green, because the calculations often neglect the batter environmental costs or electricity generation costs. And in case of generation focus on CO2 not something like cost of disposing nuclear waste for 100s of years after fuel is spent.
Unless we get the life cycles of the batteries to improve, we’re going nowhere fast it appears and net result is a wash at best. Many efficient small gasoline engines to be had out there.
———————
Completely agree.
The only solution is getting people out of da damn vehicle.
And into mass transport that is electric.
But won’t happen in North America.
Da car is King.
The bees are back in town!
The bees are back in town!
My flower garden is buzzing again.
They are quite small, though.
Plant flowers, fruit trees and vegetables.
The bees will thank you, and you can smell the roses and eat fresh organic fruit and vegies.
That scheme smells baaad. Now bring back happy hour soon.
$100? Way too much. There is another one for just $10!
I would rather buy 10 lots of the $10 scam. lol!
When your barber and MIL start giving investment advice, RUN!
#26 Sucker
…Not at all like a serial number was cropped from the bottom.
*********
Applauds! Best comment for now !!!!!!!!
He’s marketing to the same clued in generation that put 30 billion into Dogecoin and GME. He’ll do well.
With all the scullduggery going on, is it okay to have an inkling perhaps, Decomarcy no longer exists?
Interesting thought…
So let’s say a (budget) Willow property is split into 2500 shares of $100 each. If I one way or another come into ownership of all 2500 shares…do I now own and have at least some degree of control over the property?
Since the shares aren’t publicly traded, is there any enforcement mechanism? Am I at the whim of the Willow head honchos? Have I just purchased a “house NFT?”
But…but…its in the blockchain!!!
Meh. I’ll stick to REITs.
airbnb
$200m profit in 2018…probably through some accounting play.
$322m loss follows it in 2019
Don’t feel like looking for 2020 total, was there a profit?
$1.2b loss in Q1 2021 alone.
Valuation of Airbnb $85b. Really, $85b. Dividends? In your dreams.
I mean…talk about a thin. airbnb? air…billions’n’billions!
Airbnb’s Brian Chesky: “The trick is to be optimistic”
#31 Ponzius Pilatus
Crowded # 24,
@#17 Rinse and Repeat
“The best time to buy real estate was yesterday. The next best time is today. Fortunately, that statement has been right for the last 20 years despite all the doom and gloom, and will continue to be going forward”
+++
“Devil’s Advocate I presume?”
————————————–
D.A. or not, I can’t find much to fault (for being inaccurate) in his actual comment?
Weird. You have REITs.
This group capitalizing on the ignorance of people about investment vehicles and RE FOMO casualties.
Good you showed them for what they are financially: users of other people’s money and either good or bad they walk away scot-free.
Carpetbaggers.
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#25 TurnerNation
I have given up Tweeting to Gov Canada (Hajdu, Tam, Dr. Trudeau, et. al.) along the lines of:
FFS do they or do the not have herd immunity and if so, I’d like to know what the magic number is…something to look forward too.
But oh no.
That would be forward thinking, no point in giving people hope now is there?
Heck, better to prolong the misery of the masses and not give them something to aspire too. PATHETIC.
77% 1st dose/69% 2nd dose overall for the Yukon, West Yukon: 84%/79% – each zone has a statistically significant sample size to be taken seriously.
https://yukon.ca/this-is-our-shot#vaccine-progress-in-yukon
Canada’s (and the World’s) VAX WUNDERKIND.
Now measuring cases by 1/2, 1, 1-1/2, 2 etc. markers on the Y-axis, click on Yukon in the map and view cases chart below the map:
https://www.ctvnews.ca/health/coronavirus/tracking-every-case-of-covid-19-in-canada-1.4852102
———-
Diane Francis is correct about Canada:
A country run by amateurs who hire more amateurs.
Rinse and Repeat
Good thing the federal housing minister admitted that they created a market for foreign buyers and that it would be catastrophic for prices to retreat a mere 10% despite a 40% increase.
And while people like to think parabolic price increases are not sustainable, there is absolutely nothing, and I mean nothing, on the horizon that will prick the bubble:
Here’s a chart that shows the relative home price index of the US and Canada. It shows a huge Canadian bubble. All you need to prick it is a momentary pause. If investors fear that the market has peaked, they will sell – thereby pricking it.
https://www.howestreet.com/2021/05/timber-lumber-and-treasury-yields-signal-slowing-growth-disinflation/
and to get back to your point of a retreat of a mere 10%. What’s to stop it there?
#31 Ponzius Pilatus
I’m watching all the e-scooters and e-bikes. With batteries that likely have a high environmental cost and in terms of charge cycles probably can do 500 at most before fading out to minimal range.
These are all the rage, and somehow my gut feeling tells me these e-scooters and e-bikes are displacing normal 100% human power bikes and taking people off the public transit instead of taking people out of cars.
Meaning, the net result is these e-scooters and e-bikes is actually more environmental damage, including disposal of these proprietary battery designs after a short useful life.
Willow smells like the heady days about a decade ago when everyone jumped on the hedge fund bandwagon. I’m thinking of Portus. I didn’t lose any money on that but the funds were tied up for years, not earning interest.
Once bitten, twice shy.
#25 TurnerNation on 05.31.21 at 1:13 pm
What is really going on in Kanada. We’ve been Balkanized.
=====
Nothing wrong with being Balkanized if we get the cuisine that comes with it. According to you we are screwed anyway so might as well enjoy the amazing food.
Not enough of it anywhere here in the LM.
Maybe that’s why everyone blames the Asians, too many Asian restaurants in relationship to Balkan food .
For the uninitiated this was an attempt at a joke.
Hi Garth
I am ‘renting’ in a co-op building in Vancouver westside. The coop charges me at an affordable market rate and I live in one of the best neighborhoods. I have defined benefit and decent savings all invested. I was pre-approved $640K on 20% down of purchase price $800K condo but I have no interest in buying. My question is, should I invest more in REIT (rather than 5% of my portfolio) since I don’t own a property, probably will never own?
Maybe it’s not as crazy as it sounds? I see 3 ways out of the mortgage debt problem, 1) default, 2) inflation, 3) conversion to equity. I don’t know whether this sort of platform is the way to do 3), but having an asset class backed by houses might come in handy when all that money printing makes Western currencies worthless.
“#30 Elon Muskvitch on 05.31.21 at 1:26 pm”
While this is mostly true the F150 Lightning is a big turn in things. The prices really aren’t that different from the current F150 (gas) and the range is actually fine for most people. Add the lower cost of maintenance, no gas and it really starts to look very doable. Don’t forget the charging stations are coming also.
Musk should have let someone run production that knew what they were doing but he has to have his fingers on it and everything. That will be his downfall along with the big car companies providing competition and the fact that he should have just stuck to the higher end luxury market. Plus he has never met a date he claimed things would be done by. The Spacex stuff is brilliant the cars he can be outdone and out priced on.
The hydrogen stuff is really hyped and not as clean or cheap as it needs to be to work. Otherwise Ballard Power would be a household name and every where.
I smell jail time on that Willow deal.
Good read Garth thank you. The insanity continues.
Garth, come on, there is no mention of blockchain on the website. It’s all pretty reasonable. I don’t see why a liquid marketplace for individual properties is a bad thing. Just another asset class, why should you have to invest in a REIT? I see they have some heavyweights on as advisors like Wekerle and Laura Johnson. Property developers as well. Seems like a hit piece on a young company that hasn’t even started?
In my view, Willow is total BS. Online platform (which you can’t navigate away from in google… for me this is always a red flag) controlled by a few sketchy overpaid dudes. No office, no backing, no security of “investment”, no liquidity, will allow the founders to simply disappear into the ethers when their constructed pyramid scheme shows signs of cracking, with money sent to offshore accounts. Might as well throw your money into a wishing well. Unregulated capitalism and “entrepreneurship” at its worst.
RE: #40 SunShowers on 05.31.21 at 2:40 pm
Interesting thought…
So let’s say a (budget) Willow property is split into 2500 shares of $100 each. If I one way or another come into ownership of all 2500 shares…do I now own and have at least some degree of control over the property?
=======================================
On their site it states that there is a equity cap on each single property that you can own via Willow. I think it was 10%…
But why would anyone bother with Willow, and all it’s extra fees, when you can just buy a REIT or REIT ETF?
@#31 Rinsing out the sink
“The best time to buy real estate was yesterday. The next best time is today. ”
+++
Well then.
There should be absolutely no risk in leveraging yourself to the max and borrowing more millions to buy more.
Because real estate never goes down.
Jump in with both feet baby.
Scam. And half the money went to their wages and and administration. They probably leased an office on Bay St and are pretending to be big shots.
Future American Greed episode.
No new news hear the same was going on in the 80’s and 90’s What is old becomes new again.
#59 – They probably leased an office on Bay St and are pretending to be big shots.
That’s what I did!
If it quacks like a scam, walks like a scam, it is not a duck.
#31 Rinsing out the sink
“The best time to buy real estate was yesterday. The next best time is today. ”
………………………………………………………………………………………………………..
Best time to buy RE ? Yesterday’s gone and miles too high overpriced in the last year and today.
Wait for August 2023.
In the Fed we trust…minute by minute hour by hour but no further.
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This is Canada. No one is allowed to open a marketplace or exchange without heavy vetting from securities regulators ex. OSC. Some of these crying scam comments … get a grip. The advisory team seems strong; fees are much lower than regular re-investment. REITs are fine, but I don’t want to buy into a pool of properties I don’t select. I will be watching this one. Thanks for bringing it to my attention.
One thing the Fed can do and will always do and have done well is lie.
Many posters have come on here in recent years and lamented on not having bought RE because of advice to wait for a better entry time and lower prices to come.
They didn’t (lower prices) happen. So blame those with the damnable advice of the past. Never-mind they’re having been misled by the Fed all along.
Keep in mind how mis-leading the Fed has been and will be with their ever increasing lies and cover-ups moving ahead to the point of criminal and beyond.
Fed misplay has ruined RE with low rates. Their lies to keep a lid on rates are becoming an overflowing cesspool. They will continue to stretch out the deception that they can keep rates low for only so long. When the debt to GDP ratio approaches 150% over what the country brings in and its nearing this point now, what astounding lies will be told then to keep a lid on rates destined to explode upwards in the future.
The debt to GDP ratio was at 50% 13 years ago before the advent of QE…big difference today.
13 years of Fed lies and low rates…
Fed lies are about to get bigger as they tackle the reverse effect with rates unavoidably that are to come.
Every time I hear of something like this, I always ask one question:
Will this require more effort than buying ETFs and having a balanced and diversified portfolio?
If the answer is yes, then I say no thanks. I’ll pass.
The fact that they didn’t want to talk to Garth is telling. An honest start-up would try to get any publicity.
#27 TurnerNation on 05.31.21 at 1:13 pm
i was about, but i wont… enjoy short video.
https://www.youtube.com/watch?v=lgw4Rpsm5Nk
My 4 month-end Covid 19 Pandemic charts are up:
http://www.chpc.biz/history-readings/pandemic-update4784861
The following are Global data:
% Deaths of Total Cases = 2%
% Recovereds of Total Cases = 90%
Increase M/M:
Cases up 13%
Deaths up 12%
Recovered up 19%
Increase Last 3 Months
Cases up 33%
Deaths up 26%
Recovered up 47%
Increase Last 6 Months:
Cases up 105%
Deaths up 96%
Recovered up 160%
Everyone is itching to get out. I’m taking the other side of the trade.
#31 Rinse and Repeat on 05.31.21 at 1:26 pm
#24 crowdedelevatorfartz on 05.31.21 at 1:11 pm
@#17 Rinse and Repeat
“The best time to buy real estate was yesterday. The next best time is today. Fortunately, that statement has been right for the last 20 years despite all the doom and gloom, and will continue to be going forward”
+++
Devil’s Advocate I presume?
——–
No, just another arm chair analyst who rightly acknowledges that the only people who have consistently been right for two decades are under-educated, self-serving realtors, developers, mortgage brokers, banks and boomers who constantly said ‘just get in the market.’
———————
A whole generation has never experienced “normal” interest rates and “normal” house prices.
Twenty years is a long time, and one can understand that people have come to belief that this is the “new normal” and interest rates will remain low and houses will continue to go up.
Particularly in the Lower Growland.
We have friends in Richmond who bought 20 years ago for 350k, and now similar properties in their neighborhood sell for about 2 mill.
But they don’t see themselves as financial geniuses.
They just bought a house in a neighborhood that they liked.
But they are not complaining, either.
#66 calmdown on 05.31.21 at 5:56 pm
This is Canada. No one is allowed to open a marketplace or exchange without heavy vetting from securities regulators ex. OSC. Some of these crying scam comments … get a grip. The advisory team seems strong; fees are much lower than regular re-investment. REITs are fine, but I don’t want to buy into a pool of properties I don’t select. I will be watching this one. Thanks for bringing it to my attention.
******
Fees aren’t that low. You can easily open a B&D ETF with a reputable online brokerage and pay about 0.10% or less.
#30 The West on 05.31.21 at 1:22 pm
“Willow” is irrefutable evidence the tide has turned on the middle class. I’m not sure how this can be undone.
https://www.theatlantic.com/ideas/archive/2021/05/post-pandemic-dont-want-to-reenter-society/619045/
https://globalnews.ca/video/7908013/canada-launches-291m-black-entrepreneurship-loan-fund
Is “economics” a requirement for a “Drama Teacher” degree?
This is crazy.
+++++++++++++++++++++++++
Per Global News article above:
Canada launches $291M Black Entrepreneurship Loan Fund
Prime Minister Justin Trudeau announced on Monday the launch of the $291 million Black Entrepreneurship Loan Fund, which he said will allow Black entrepreneurs and business owners to access loans from $25,000 to $250,000.
——————————————————-
Although quite pale and male, of European ancestry, I identify as ‘black’ – and not sure about my gender these days. It’s getting so confusing…
But…do I qualify for a loan Mr. T?
TOWER OF TERROR!
When the over indebted start defaulting on their personal debt mountains, the echoing sounds of happy yodeling resonating up and down the valley’s will fall silent. The yodeling (look at me) will be replaced by sobs and screams as the gravity one experiences on the Tower Of Terror ride kicks in. Babe Ruth, said it best, “Yesterdays home runs don’t win games today.” As for me, I’m just a lonely profit, sounding alarm bells that no one hears, soon to be ushered to my rocking chair, mumbling.
But whether this is a legitimate asset for unsophisticated investors is another question.
Commentary like this paragraph manages to condense a lot of wisdom into just a few sentences — a great reason I keep coming here.
Well, you can buy pizza by the slice.
And there’s Schwab’s Stock Slices.
Selling/buying slices of RE sounds so simple, so I can see a market out there.
With every share you get a slice of pizza.
Garth, addy is another one, similar except you cant trade or get out of your purchase for 5 years. Returns are 5-10% compounded annually. Theyre already 5 or 6properties deep and so far so good, though its early days.
OK, now for some humour (as always, the funny ones have a bit of truth in them):
Justin Trudeau walks into a Bank to cash a cheque in front of me one day: As he approaches the cashier he says, “Good morning, Ma’am, could you please cash this cheque for me?”
Cashier: “It would be my pleasure to do that sir. Could you please show me your ID?”
Trudeau: “Truthfully, I didn’t bring any “ID” with me as I didn’t think there would be any reason, he says, I’m the leader of the Liberal Party, “I am the Prime minister of Canada….
Cashier: “Yes sir, I know who you are, but with all the regulations and monitoring of the banks today because of all the impostors and forgers and requirements of the CIDC legislation, etc., I must insist on seeing your ID.”
Trudeau: “Just ask anyone here at the bank who I am and they will tell you. Everybody knows who I am.”
Cashier: “I am sorry, Mr. Trudeau, but these are the rules and I must follow them.”
Trudeau: I am urging you, please, cash this cheque.”
Cashier: “Look Mr. Trudeau , here is an example of what we can do. One day, Mike Weir came into the bank without ID. To prove he was Mike Weir he pulled out his putter and made a beautiful shot across the bank into a cup. With that shot we knew him to be Mike weir and cashed his cheque for him.
Another time, Wayne Gretzky came in without ID. He pulled out his hockey stick and made a fabulous shot with a hockey puck it landed in an over turned trash can at the other end of the bank. With that shot we cashed his cheque.
So, Mr. Trudeau, what can you do to prove that it is really you, and only you?”
Trudeau stands there thinking, and thinking, and finally says, ummmm “Honestly, my mind is totally blank, I have absolutely no idea what to do, I don’t have a clue.” I really don’t have a clue.
Cashier: Says, Ok thanks that will do. Will that be large or small bills, Mr Trudeau?”
Renters don’t renovate- renters don’t repair. Landlords only renovate and repair when they can’t rent or by order of the City.
In ten years you’ll be a fractional slumlord.
#74 TrueLies on 05.31.21 at 6:45 pm
#30 The West on 05.31.21 at 1:22 pm
———-
https://globalnews.ca/video/7908013/canada-launches-291m-black-entrepreneurship-loan-fund
———-
Prime Minister Justin Trudeau announced on Monday the launch of the $291 million Black Entrepreneurship Loan Fund, which he said will allow Black entrepreneurs and business owners to access loans from $25,000 to $250,000.
———-
The US recently found similar discriminatory practices to be unconstitutional and struck down preferential treatment based on race and gender:
https://www.wsj.com/articles/stopping-racial-bias-in-covid-relief-11622421892
It is possible that the US constitution is just not woke enough.
I thought this was a very good dissertation were the global economy stands today – worth a read though it is lengthy. I like the story and find it credible enough to act on it.
https://www.zerohedge.com/markets/icecap-asset-management-story-year
The comments on Canada (page 12) are interesting. The author is hard on Central Bankers as they are not the smartest in the room. Actually, they are downright dangerous along with dumber politicians and their experts.
I wonder if average peoplekind have been dumbed down by design. It certainly makes the elite look better to the plebs.
I registered from the $5,000 homeowner’s reno grant. If I am going to pay for the government largess, I want a piece.
#34 Ponzius Pilatus on 05.31.21 at 1:53 pm
The bees are back in town!
The bees are back in town!
My flower garden is buzzing again.
They are quite small, though.
——————————–
Ya, I must of mowed over a dozen yesterday. Many, many more got away though, so that is good. It is not my intention to mow over bees but the lawn must be mowed. They seem to love the dandelion outbreaks after a good rain. I’m not sure why they can’t see or hear the mower coming but they don’t seem to.
The yard is lousy with wasps as well, despite my trapping efforts.
willow.ca. what a bargain basement website developed and hosted under the Google web banner. A rather mundane template and some cheap graphics. The website looks like one of those salesmen dressed in a cheap polyester suit. uggh!
This is absolutely preposterous. The only people who should be involved in any RE transaction should be Realtors.
They are the only truly equipped and properly trained professionals to deal with real estate related matters.
So many things could go wrong if less than highly educated and skilled practitioners attempt to deal with the complexities of land and building acquisitions.
Realtors go through lengthy and vigorous training to obtain their expertise.
I hope you all contact your local real estate board and let them know that they should spring into action to protect the public from these shysters who don’t have society’s best interest at heart.
#48 Elon Muskvitch on 05.31.21 at 3:11 pm
#31 Ponzius Pilatus
I’m watching all the e-scooters and e-bikes. With batteries that likely have a high environmental cost and in terms of charge cycles probably can do 500 at most before fading out to minimal range.
————————————
I bought my son an e-scooter some years ago. It had a useful life of 3 years and he didn’t ride it that much, but it was plugged in trickle charging the whole time so who knows how much electricity it used. Now, the whole thing is dead and I don’t know what to do with it. I can probably get new batteries at a specially store but he’s to big to ride it now. Do I recycle the whole dang thing? Where?
I keeping saying to myself people can’t be that stupid and gullible but everyday something comes up that makes me think, yes people are really getting more stupid everyday.
It is so sad that our society actually believes that they can all be rich with these schemes and new schemes wrapped in modern technology trying to make it look like their new but they are not. This is why my older brother and his wife are so boring as he is an accountant and she works as a tax preparer, bookkeeper when it comes to money. They save minimum 40% of their gross income per year. They only have only savings accounts, GIC’s, term deposits, term life insurance policies, disability insurance and critical illness policies, annuities, a paid off $550,000 modest size house, no debts at all for decades now.
#74 TrueLies on 05.31.21 at 6:45 pm
Canada launches $291M Black Entrepreneurship Loan Fund
Prime Minister Justin Trudeau announced on Monday the launch of the $291 million Black Entrepreneurship Loan Fund, which he said will allow Black entrepreneurs and business owners to access loans from $25,000 to $250,000.
——————————
Hmm here I was thinking that basing things on skin color was racist.
I can kind of see special programs for the indigenous community, but everyone else got here on their own. We never had any slaves forced to come to Canada against their will. Heck even the descendants of the criminals the British sent to Australia have a better claim to reparations than anyone in Canada (besides first nations).
#25 Sail Away on 05.31.21 at 1:10 pm
I found the Willow investing video clip:
https://youtu.be/-DT7bX-B1Mg
___________________________________________
Yup, that was funny!
Have not commented in awhile; much to Garth’s pleasure.
Clap,clap,clap to you Garth for writing this article; if this does not awaken a few eyes then there is no hope.
The entire time I was reading the article I was thinking to myself “why not invest in REITS” instead of this new (cough,cough) concept??? To each their own!!! I will stick with my REITS!!
#88 Nonplused on 05.31.21 at 8:02 pm
#74 TrueLies on 05.31.21 at 6:45 pm
They are LOANS from banks ya goobs. handouts to the banks most likely. Get over it.
And Sail Away, the constitution presided over most/all of US history. I’ll leave it to you to decide if it’s “woke” or not.
Wow, seems like this would just add to the property bubble. What does the taxation look like on this? At what point do they sell the property? If this takes off you’ll have to tax capital gains on the property sale.
DELETED
Smells like team spirit…..or just another way to milk the market. Not gonna end well…but “Whatev…”
#81 Sail Away on 05.31.21 at 7:37 pm
#74 TrueLies on 05.31.21 at 6:45 pm
#30 The West on 05.31.21 at 1:22 pm
———-
https://globalnews.ca/video/7908013/canada-launches-291m-black-entrepreneurship-loan-fund
———-
Prime Minister Justin Trudeau announced on Monday the launch of the $291 million Black Entrepreneurship Loan Fund, which he said will allow Black entrepreneurs and business owners to access loans from $25,000 to $250,000.
———-
The US recently found similar discriminatory practices to be unconstitutional and struck down preferential treatment based on race and gender:
https://www.wsj.com/articles/stopping-racial-bias-in-covid-relief-11622421892
It is possible that the US constitution is just not woke enough.
————-
A constitution that does not protect the minority from abuses by the majority is not worth the paper it’s written on.
The American Constitution is as useful in today’s society as the Bible.
Time to scap the thing and start over.
And get younger Supreme Court judges.
Weird. What did I just read? Seems like you didn’t care for this company and made assumptions. Based on the Willow statements and the website it seems to be interesting.
CHOKE! GASP! COUGH!
3rd Period:
What a disaster Toronthole and the Make Believes are!
Down 3-1 to the Canadiens, about to throw away another season.
What is wrong with the delusional idiots who support that team?
What is wrong with that craphole of a fake city?
Ha, here it comes! Not a good sign, it is time to short the RE market!
1. this basically creates a sort of share trading. does security trading regulations apply here?
2. this tells the RE market is at the peak, minds are going crazy.
3. this basically treats residential properties as a financial asset, which is going to create more tensions between property owners and property “losers”
4. similar ideas were reported from elsewhere in the world (e.g. China) and those were banned by local governments.
Cue the 54 years of Maple Leaf Incompetence dude.
#13 A Dollar is a Dollar is a Dollar on 05.31.21 at 12:47 pm
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#17 A Dollar is a Dollar is a Dollar on 05.31.21 at 12:56 pm
DELETED
#93 A Dollar is a Dollar is a Dollar on 05.31.21 at 9:09 pm
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**************************
Lemme guess: comparing capital gains tax reductions to white supremacy again?
#91 Faron on 05.31.21 at 8:28 pm
#88 Nonplused on 05.31.21 at 8:02 pm
#74 TrueLies on 05.31.21 at 6:45 pm
They are LOANS from banks ya goobs. handouts to the banks most likely. Get over it.
———————————-
My point is that when I see skin color referenced in something, I think we are going backwards not forwards. Why should “black” Canadians get loans that “white” or “Asian” Canadians do not? What did we ever do to them?
If the government wants to hand out small business loans, so be it. But if there is a mention of race in the document I’m out. Unless they are natives. We probably owe them something. Took their land after all.
#25 Sail Away on 05.31.21 at 1:10 pm
I found the Willow investing video clip:
https://youtu.be/-DT7bX-B1Mg
LOL – very funny SA :) “…….and it’s gone”
#95 Ponzius Pilatus on 05.31.21 at 9:22 pm
“A constitution that does not protect the minority from abuses by the majority is not worth the paper it’s written on.”
The point of the American constitution is exactly to protect the minority from the majority. That is why it is a Republic. Smaller states would not have joined the union if it was an outright democracy.
“The American Constitution is as useful in today’s society as the Bible.”
The Bible is actually still pretty useful at least from a historical perspective, in understanding western culture or what is left of it.
“Time to scap the thing and start over.”
Ya well I would be literally afraid of what they would come up with if they did that. Remember, Soros would write it, maybe with input from Gates and Bezos. And Zuckerberg of course.
“And get younger Supreme Court judges.”
Like AOC?
Propshare my advice to too avoid at all costs. Ten years ago there was a similar investment in Victoria BC called league assets . Invest as low as a $1000 and watch your investment grow !!!
League Assets investors left with pennies, others in cold
Buyer beware take a peep at the article :https://www.timescolonist.com/business/league-assets-investors-left-with-pennies-others-in-cold-1.2178525
This Willow story is proof that if you live long enough, you’ll eventually be able to say that you’ve seen everything.
I’ve seen everything now.
The offering is a SPAC. As such you should be prepared to lose all your money. Willow proposes to buy one unit at a time. Why is it so hard to understand? How many investors does it take to buy a million dollar unit while the administration of that deal is well over 50% ? A pyramid scheme by any other name would as sweet. He’s found mine very stupid people, are you number 10?
#97 50 YEARS OF MAPLE LEAF INCOMPETENCE! on 05.31.21 at 9:33 pm
CHOKE! GASP! COUGH!
3rd Period:
What a disaster Toronthole and the Make Believes are!
Down 3-1 to the Canadiens, about to throw away another season.
What is wrong with the delusional idiots who support that team?
What is wrong with that craphole of a fake city?
……………….
The Habs vs the Hab Nots. What did you expect?
97:
Never underestimate the ability of the Toronto MakeBeliefs to disapppoint.
TCN-T: father and son team in 2007 scooped hundreds of single and multi family homes in the US during the sub- prime mortgage crisis and currently buying 300 homes per week:D-2.6%
This is for the up and coming generations priced out of housing, now they have something tangible and a foot in the door. They can drive by with their friends and say I own 10% of that development and feel like they are “in” the market.
If this goes ahead and real estate continues upwards there will be more companies offering more services like this.
These guys may well be the “Robinhood” of the property markets in Canada now, buying and selling property with a swipe of a finger, doing a run on certain properties just like GME.
I am on the list and await to see if they are a game(stop) changer for Canadian real estate.
#15 Wrk.dover on 05.31.21 at 12:50 pm
Willow and WE, both start with the letter W.
I suppose if we are at the Ws then Z end is near.
I wonder how many of those willow investors ever heard of a reit?
Hard pass on this one. Seems like a sucker investment to me. It is far too risky for me and I invest in some highly volatile investments. I don’t mind going 3X long or 3X short when the conditions are right but this is not a liquid investment and is a sucker’s bet in my opinion.
Australia has had an equivalent since 2014. The company gets a transaction fee but aren’t locked into the properties.
https://www.brickx.com/
#111 NSNG on 06.01.21 at 12:45 am
#15 Wrk.dover on 05.31.21 at 12:50 pm
Willow and WE, both start with the letter W.
I suppose if we are at the Ws then Z end is near.
I wonder how many of those willow investors ever heard of a reit?
___________________________________
I merely smelled a wrat! But true, the end is here.
If you want exposure to real estate simply buy Canadian bank stock.
Sorry, off topic.
Even with 550 frontline health care workers in attendance it was not enough to stop the Leafs from choking.
The millenials think they have the answer to everything. They don’t bother with history though and think their ideas are new.
They’d be better off re-inventing the ‘Pet Rock’ if they want to make some serious money. Most millenials probably never heard of it and they’d buy them.
I might invest in that scheme.
@#98 50 years
“What is wrong with that craphole of a fake city?”
+++++
They need you there to make them complete……?
Rentier capitalism especially in real estate is usury and part of the genocidal process by way of habitat denial through price inflation.
Land lords recognize no limit to their greed.
For the good of mankind real estate as an investment has to be outlawed and reduced to being price suppressed and regulated and bought on a cash basis at government prescribed prices not exceeding 3years pay at minimum wage.
#49 Editrix
Willow smells like the heady days about a decade ago when everyone jumped on the hedge fund bandwagon. I’m thinking of Portus. I didn’t lose any money on that but the funds were tied up for years, not earning interest.
Once bitten, twice shy.
—————————————————————————
Can you say: “David Sharpe”?
The Canadian Bernie Madoff.
https://www.bnnbloomberg.ca/bridging-finance-ceo-sharpe-terminated-as-scandal-deepens-1.1600850
Move over P.T. Barnum – there’s a new showman in town.
#110 J. Morris on 05.31.21 at 11:38 pm
TCN-T: father and son team in 2007 scooped hundreds of single and multi family homes in the US during the sub- prime mortgage crisis and currently buying 300 homes per week:D-2.6%
———–
Thanks! This one is worth a deep dive.
#50 ElGatoNerodeYVR
Nothing wrong with being Balkanized if we get the cuisine that comes with it.
—————————————————————————–
Back in the ’80s, I travelled to Yugoslavia – pre Sarajevo war days. It was generally a disaster, but the food was awesome. And cheap. Did I mention awesome? it’s a carnivorous paradise.
Try the Cevapcici!
https://www.allrecipes.com/recipe/80398/serbian-cevapcici/
#53 Very Daper Pathogen
I don’t know if I can agree with what you say. Elon Musk has one thing right – he did the heavy lifting on batteries. He has the manufacturing capacity to make the batteries, and most other manufacturers do not. This will limit their vehicle output count. I think this is where he has all other electric car vehicle manufacturers by the balls for a good 5 years head start – they can’t make the battery volume needed to make any meaningful volume of electric cars. It will all be a image/marketing effort for them with minimal cars delivered. What more, they will likely prioritize highest priced cars for the bettery supply they can get because it’s the business wise thing to do. Why not ship a top end loaded electric Porsche that brings in $17,000 margin dollars instead of a cheap VW with $700 of margin dollars on it, right?
The problem is, we have the battery technology! We have the electrolyte technology that allows batteries to charge faster, take so many charge cycles battery life is measured in hundreds of thousand charge cycles and decades not years. And we have electrolyte technology that makes lithium batteries absolutely 100% safe – you can puncture, cut, do whatever you wish – they don’t explode.
So the question is simple: Why aren’t we using this battery technology? I’m thinking battery cost is the cause, and if this was done it would make electric cars insane price.
Follow up questions could also be, why aren’t the batteries in a standard format? Why haven’t the manufacturers agreed on a “pod” area where such a battery can be swapped in/out in a blink like AA batteries – just larger?
Wouldn’t that make sense? Would it be wonderful if you could pull into a “gas station” and swap out the battery while it charges, come back for your battery later if you wish?
#87 Nonplused
Yeah Nonplused, you just proved the example of the environmental damage these disposable short-life e-scooters and e-bikes are going to make.
What do you do with it? Probably take it to some recycling place to cleanse your conscience. That’s what recycling really is – consumerism confession to cleanse your conscience of the useless consumerism. They may give you $5 for the battery and $5 for any low quality metal in those junky mostly plastic things. You can buy something plastic of that $10. In the end your e-scooter will end up in the dump or ocean like most other garbage.
Now look at the food delivery guys – they’re driving the demand for these things now, which under their type of use hopefully last a year, unlikely but hopefully. A vehicle with a useful lifespan of 1 year. Aren’t humans wonderful smart consumers of goods?
Just think of all the single use plastic we’re enjoying in this pandemic. The PPE, mask elastics that will be killing ocean life for decades, single use plastic gloves that look like jelly fish and will kill everything that eats jelly fish, gowns, covers. Billions of tiny disinfectant bottles. Billions of small disinfectant bottles. Billions of medium disinfectant bottles. Billions of large disinfectant bottles.
Billions of extra large disinfectant bottles. Billions of giant disinfectant bottles. Recycle, Recycle, Recycle!
Should be easy to take out the remaining population of 100 year old turtles now. How needs turtles, we know how to make the wax from synthetics now!
And same is true with all this CO2 push. These batteries, e-scooters, e-bikes and even electric cars have big question marks around them. No one talks about all that nuclear waste we’re leaving to the children. Nuclear waste that has a half-life measured in thousands of years, and in some cases millions of years. The concrete structures it is stored in last 50 to 100 years. How much CO2 to keep making that cement and to build the storage facilities that house the spent nuclear fuel that charged all these e-things a thousand years ago? How much to make the green solar cells that last 25 years and must be disposed of after?
It’s crazy. Human consumption is out of control and happens without thought. No one thinks anymore – do I need it? We’re irresponsible and we don’t know how to say no to ourselves.
We look at Covid as a pandemic, but as far as the planet is concerned, George Carlin said it – we’re the cancer.
I hope you enjoyed this positive comment on a day when everyone in Leaf nation is in mourning.
Nonplused I bought my son an e-scooter some years ago. It had a useful life of 3 years and he didn’t ride it that much, but it was plugged in trickle charging the whole time so who knows how much electricity it used. Now, the whole thing is dead and I don’t know what to do with it. I can probably get new batteries at a specially store but he’s too big to ride it now. Do I recycle the whole dang thing? Where?
you got to recycle the batteries otherwise they end up in the landfill – toxic metals
I don’t know where you live – Vancouver? There’s
Battery World Vancouver
1749 Boundary Rd
Vancouver Battery
2192W Broadway
you should be able to take the batteries out – if not take the whole thing to the battery store and they’ll figure something out.
Having been around for 60 years, and into investing for 31 years, it looks like another Ponzi scheme. Of course government shares part of the blame here, by doing essentially nothing to control runaway house prices in the last budget when there was a good opportunity to do so. The result is many people think prices will keep going up forever. I’ll keep away from this scheme with some money in cash because, sooner or later, something will go on sale. As for real estate, I’ll stay with my exposure to the sector with REITs and REIT ETFs. At least they pay dividends.
#124 Dharma Bum on 06.01.21 at 9:33 am
#50 ElGatoNerodeYVR
Nothing wrong with being Balkanized if we get the cuisine that comes with it.
—————————————————————————–
Back in the ’80s, I travelled to Yugoslavia – pre Sarajevo war days. It was generally a disaster, but the food was awesome. And cheap. Did I mention awesome? it’s a carnivorous paradise.
Try the Cevapcici!
https://www.allrecipes.com/recipe/80398/serbian-cevapcici/
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You can buy them in stores already made, wit wiriety of meet. One with pork/veal mix are best 40 for 60 in store.
Before i bbq them i dice an onion and placed in a soup pots and after chevapi are done i place them in same pot with an onion and shake it, and leave it for 4-5 min. What that does is softens a onion a bit and takes some of onion bite. Flat bread and kaymak (some sort of soure cream) you’ll have to look for them around, Or you can do one stop shop here in Stoney Creek.
As for sarajevo, my mother older sister lived there, and some of the relatives, what you remember, i sure its even vorset now.
If i remember corectly that scale models cars and airplanes store tht me and cousens of mine visited every time i was there, was on opposite side of river where where Gavrilo put his chevapi down and runed on a street when he sow Frantz driving buy.
Now you know, how wars start over there, generally speaking chevaps are involved directly or indirectly.
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those are good
https://www.fortinos.ca/pork-beef-caseless-sausage-royal-chevaps/p/21188958_EA
There is a dude near me, hwy8 and grays road, he makes them a best at Golden flame , and if you remember pies beef, chease spinach or potato pies, just bit down from him on hwy8 Golden grain bakery.
Now i know what are we having for lunch/dinner.
124 Dharma Bum on 06.01.21 at 9:33 am
#50 ElGatoNerodeYVR
Nothing wrong with being Balkanized if we get the cuisine that comes with it.
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Back in the ’80s, I travelled to Yugoslavia – pre Sarajevo war days. It was generally a disaster, but the food was awesome. And cheap. Did I mention awesome? it’s a carnivorous paradise.
Try the Cevapcici!
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Forgot the Slivovitz?
#126 45north on 06.01.21 at 10:28 am
Nonplused I bought my son an e-scooter some years ago. It had a useful life of 3 years and he didn’t ride it that much, but it was plugged in trickle charging the whole time so who knows how much electricity it used. Now, the whole thing is dead and I don’t know what to do with it. I can probably get new batteries at a specially store but he’s too big to ride it now. Do I recycle the whole dang thing? Where?
you got to recycle the batteries otherwise they end up in the landfill – toxic metals
I don’t know where you live – Vancouver? There’s
Battery World Vancouver
1749 Boundary Rd
Vancouver Battery
2192W Broadway
you should be able to take the batteries out – if not take the whole thing to the battery store and they’ll figure something out.
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Nonplused – The e-cycle next to Wild Rose is the place. Good excuse to enjoy a IPA on a beautiful hot patio day!!
@#98 50 YEARS OF MAPLE LEAF INCOMPETENCE!
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Relax dude, it’s a beautiful day out there.
your pettiness will be the death of you.