Schadenfreude

Well, it’s begun.

“My wife and I bought 6 months ago at the height of the housing market it seems now,” says some FOMO addict on Reddit. “We bought hours away from work (Toronto) as we both were working from home.”

We thought WFH would be permanent and we were both afraid of missing out on buying if we didn’t pull the trigger. Wife is being called back to work full time. I’ve been given notice that we’re going back part time come September.

We listed our house a bit over two weeks ago, no offer has come in that we break even on let alone profit. Our realtor has told us the market is cooling and that it would be a surprise if we got what we were asking for. We’ve gotten a couple of offers, none of which are asking price.

We’re at a loss. My wife is looking for work locally but due to the nature of her work she is unlikely to find equivalent in pay or opportunity. She also doesn’t want to leave her employer, she has great upward mobility and seniority there. I don’t personally mind commuting part time but she’s livid about the situation and refuses to live here now… Any suggestions would be appreciated.

And this. “HELP! I bought a house in another province and got called back to the office!!” cries another poor schmuck. “Last year when my company went remote I sold my condo in downtown Toronto (Parkdale) and bought a house in cash, sight unseen in Brooks, AB. It looked like a cute little town on paper and I wanted a slower pace of life.”

Fast forward one year later and I’m getting called back to the office for October1 with no option for WFH. I paid over asking on my house and I spoke to a local realtor who said I would be luck if I only lost 50k.

I am over qualified for any jobs here and I haven’t been able to sleep at night thinking about what I’ve done. Any advice?

Tip of the iceberg. And nobody should be surprised. This is why some markets will be rolling over this autumn and winter. Delta may be here. The pandemic may not be done. But WFH as we have known it since the Spring of 2020 is kaput. For millions there will be a transition from remote back to the workplace. It may be hybrid for a while. Two or three days a week. But when you moved to a house hours (or several provinces) away, it might as well be on the moon.

Widescale vaccination makes this inevitable. Almost 70% of Canadians are fully dosed now. This will rise to 80% and likely beyond. As that happens, and as Covid fades, social upheaval will ensue. Apparently a fifth of employees – surveys show most are women and people 40 or younger – would rather quit than go back to a normal work schedule. The majority vote to stay in their PJs. The pandemic has bent our collective career drive and led to a re-evaluation of personal priorities. Besides, there are now one-year-old pandemic puppies to look after, who will suffer separation anxiety if you leave. How can you possibly ever return to the office?

Oh yeah. And the commute. Yuck.

The outsized property price gains in the suburbs and hick cities beyond the horizon will not last. “Values have gone up more than 40% in the past year here,” an agent in Stratford (population 31,000, 150 km from Toronto) told me a few days ago. “Those are Toronto prices, but people living here are not making Toronto incomes.”

Exactly. As WFH fades into WFW, remote incomes in that town and dozens like it beyond daily commuting range will also slowly migrate. Buyers will disappear. Sellers emerge. More supply and less demand. Those who thought the pandemic would last forever or fundamentally change human nature and the structure of work were suffering from recency bias. Cities are already repopulating and downtowns climbing back. The migration of white collar wealth to the blue collar hinterland is over. Places in the sticks always cost half what a city property did for a reason. It’s called access. Access to work, to sports, entertainment, services plus the pinnacles of education, health care and culture.

The lesson: FOMO is a disease. It blinds people with house lust and leads them to made really bad choices. They buy high. Now many must sell lower. It will take years for non-urban house prices to settle back to earth and personal losses will be legion as that happens. But happen, it will.

Not so sure about a generation’s work ethic. Pooched, maybe.

About the picture: “A dog’s life in the Republic of Georgia is a hard life sometimes,” writes Craig. “This one followed us for hours on a bike ride/hike in 2018 near Omalu that climbed 1000 m over 8km. It was a friendly nice-looking dog but seemed hungry. When we arrived at the top(2660m) the poor thing said “Nap time!” Photo looking north at Caucasus mountains.”

207 comments ↓

#1 Rainman on 08.10.21 at 1:27 pm

Buying a house presuming you will be WFH for the rest of your career is insanity and silly.
I guess these people exist. Greater fools….

#2 J on 08.10.21 at 1:28 pm

All I can say is it’s a boat time.
What has been going on has been ridiculous and I still can’t believe no government authorities have mentioned a word.
Let’s see what happens if it does tumble or they step in or step aside.

#3 Rick Fast on 08.10.21 at 1:38 pm

why would it take years for prices to come back to earth? if we see an interest rate rise and people forced selling to go back to the office, then those are pretty significant short term headwinds, not years, but maybe 1 year. any timelines Garth?

#4 Guy in Calgary on 08.10.21 at 1:40 pm

Life is risk. They took a risk and lost. The world continues to turn.

#5 Justin S on 08.10.21 at 1:41 pm

Totally agree with you on this Garth, and have agreed all along.

I was downtown Toronto this weekend and it was popping! Lots of ppl coming back, and more to come with the arrival of the post-secondary ppl soon.

WFH lol. I was ready to get back to WFW a few weeks into the pandemic. 24/7 at home – hard pass!

#6 James on 08.10.21 at 1:42 pm

WFH sucks, been there and done that. Working from my cottage well that’s another story!
The only thing that my father mentioned to me the other day (he is in medicine and healthcare profession) is that Covid is not over by any terms. It is here for at least another year and a half at the present rate of vaccines and at the number of cases and mutations. So all of you who bailed out from the city should simply settle in and suck it up. There is a lot to be said for living outside the big smoke.

#7 Deplorabull on 08.10.21 at 1:43 pm

#89 Barb on 08.09.21 at 4:44 pm

“If you’re unvaccinated, unfortunately, you will not be able to participate in many things.”

Perfect solution.

But now they’ll scramble to forge the document…sigh.
______________

Because of course, Hilary … the unvaccinated are deplorables and will no doubt commit forgery … and make sure you lock your doors at night too! They are no doubt petty thieves and hardened criminals.

#8 Russ on 08.10.21 at 1:43 pm

Okay. I got that WFH is working for husband, so shall I assume WFW is working for wife.

Seems kinda natural eh.

Cheers, R

#9 Polozified on 08.10.21 at 1:44 pm

All I’m getting from today’s post is that Toronto real estate will continue to UPPA UPPA due to the prodigal WFHers having to come back.

Somebody call TREB and tell them about this article!

#10 TeeVee on 08.10.21 at 1:44 pm

How can you buy something like that without seeing it?

It is one of the biggest purchases? Why wouldn’t you just rent and go visit?

I don’t get people.

Was watching a TVO thing about housing situation in Vancouver. There was a very smart woman featured in the programme that really summed up the situation well cleanly about the economy of Vancouver. Hold on let me look for it……found it!

Vancouver: No Fixed Address
https://www.tvo.org/video/documentaries/vancouver-no-fixed-address

She says…”In many ways Vancouver is a manufacturing sector. We manufacture AND export condominiums. But…they just stay here.”

The woman who makes this quote is Sandy Garossino, Former Crown Prosecutor. I really enjoy it when someone sums things up so cleanly.

The programme actually talks about people and housing situation in North Van, East Van, West Van…and then shows people living out of a Chevy Van…forced and unable to afford housing. Brutal.

#11 Confirmation Bias Blog on 08.10.21 at 1:49 pm

Would be a better name lol

#12 NewWest on 08.10.21 at 1:49 pm

Brooks. Christ on a crutch, the second guy thought buying in Brooks was a good idea?

For those of you who haven’t driven through, the smell from the feedlot, slaughterhouse, and packing plant is apparent well before you get into town, and well after you leave it in haste.

This guy obviously had never been to southern Alberta before. I’ve driven the highway enough times over the years to know that “cute” is not a word you use for any of the towns along the number 1. And that residential real estate has never been a good “investment” out there.

I’m guessing he thought the house was a really good deal, though, compared to Toronto.

The word “mania” comes to mind when reflecting on the past year and a half. Good luck selling, ace.

#13 Islandgirl on 08.10.21 at 1:52 pm

People never learn, and they never will. Anyone I know that has suggested they need to buy now or buy never get a “I know a blog you should read” response. Glad I bought my house when I did, and thankfully working from home for me will always continue, although now I’m starting to think about needing to figure out a post work retirement plan before I’m totally pooched. Thankfully there is lots of demand for housing for international students, so I’ll likely take that on when the current offsping move away.

#14 Dog Gonnit on 08.10.21 at 1:52 pm

Look at that silly dog in the photo? Just laying down on the ground like he owns it.

What’s next? He’ll probably take a dump, take 20 steps, pee to mark the mountain as his and in his head he’ll own it for $0 down and $0,000.00 monthly mortgage payment maybe to return or maybe not.

Such low IQ. Can you even respect that?

#15 Sucks being you on 08.10.21 at 1:52 pm

” I don’t personally mind commuting part time but she’s livid about the situation and refuses to live here now… Any suggestions would be appreciated.”

______________

Have you ruled out divorce? Seriously .. was “she” not part of your WFH brainstorm strategy and subsequent FOMO purchase?

Take your lumps now ..chalk it up to experience. Pay for your mistake with the next two years of after tax salary. And start reading this blog next time you are planning to do something silly!

One day you can look back and just blame it on Covid. That’s what most people are doing these days.

#16 Bob on 08.10.21 at 1:53 pm

Schadenfreude indeed… I must be a horrible person, but it does feel good to see these idiots get what they deserve.

#17 Josh in Calgary on 08.10.21 at 1:54 pm

It’s not surprising really. The world is full of emotional decision makers.

#18 Ian Desjardins on 08.10.21 at 1:58 pm

What I find amusing is that these were people who probably read this blog seeing as they wrote you. Obviously they did not believe what Garth had to say. It shows just how much emotions can influence decisions.

Ian

#19 bguy1 on 08.10.21 at 1:58 pm

Brooks?! Yikes. How is that rendering plant doing? What a smell…

#20 Love_The_Cottage on 08.10.21 at 1:58 pm

Doesn’t sound like a WFH problem. Sounds like a bottom 10% of the IQ range problem to me.

#21 crowdedelevatorfartz on 08.10.21 at 2:00 pm

Unbelievable that these people would read this blog and STILL buy a house and then comment on this blog about it.

You were warned…
Sell.
Take the hit.
Or sell later.
Take a bigger hit.

#22 Wrk.dover on 08.10.21 at 2:01 pm

#217 Hysteria Forgotten on 08.09.21 at 10:14 pm
Wrk.dover, maybe a somewhat problem but last checked we are not all dying and ending up in a disaster like the Media and other activists were saying was going to happen in the 80’s, 90’s. Lat time I checked nobody in the Media and government is worried about acid rain anymore.
________________________________

Lake swimming in SWNS used to afford amazing lengths of under water visibility. Now, you need to have a white cane while underwater, especially in my favorite, named Clearwater Lake. I leave the googles in my suitcase. Ph change and effect.

How’s your swimming going at Mara Lago though?

Acid in the rain rain didn’t go away, it just isn’t as urgent as the amount of the rain it’s self.

I have a 15 year old hunter green steel roof on an outbuilding that is turning orange, like an autumn leaf! Twenty five year shingles last 15 years here, tops.

I hope younger generations love you out of pity, which you have none of for them though.

#23 KLNR on 08.10.21 at 2:04 pm

these folks are next level greater fools.
live ‘n’ learn.

#24 Georgia on my mind on 08.10.21 at 2:06 pm

A good soldier sleeps when he can!

Love the dog. Beagle, I presume. I’ve always loved them. A small dog that thinks he’s a big dog.

But how could you have abandoned him . He’s adorable … and probably still looking for you!

#25 crowdedelevatorfartz on 08.10.21 at 2:07 pm

@#249 Toronto CA
“Do people even realize how dumb they sound?”

+++

I can think of one that doesn’t…..

#26 Chris on 08.10.21 at 2:08 pm

Living in Toronto, I can’t believe how places an hour or two out of the city were almost comparable in price to what we have. I also can’t believe how our portfolio has gone up since Covid hit.

We sat tight, planned on some renovations pre-covid and will start to price them out again soon once the cost of materials (and hopefully labour) go back to “normal”.

Emotions really got the better of some people. I am planning on having to pay more taxes to fund the Covid relief cheques that everyone got but me. Hopefully people realize that taxes do go up and and so do interest rates and have budgeted accordingly

#27 Ian from Oshawa on 08.10.21 at 2:09 pm

I’m trying to have some sympathy for people who made some really bad choices on assumptions that were beyond sketchy … and I can’t.

This is only the beginning.

Herds are known for their collective movement and unstoppable forward motion, not their intelligence.

#28 Felix on 08.10.21 at 2:15 pm

Mutts are so dogawfully lazy.

#29 Planetgoofy on 08.10.21 at 2:18 pm

#2 J on 08.10.21 at 1:28 pm
All I can say is it’s a boat time. (about?)
What has been going on has been ridiculous and I still can’t believe no government authorities have mentioned a word.
Let’s see what happens if it does tumble or they step in or step aside.
——————————————————
I guess you don’t get it? Monetary policy has built this boom.
You know emergency low int. rates to keep the economy moving.
Money printing bringing more inflation causing the race to move to tangibles. The clueless gov doesn’t want to see a business cycle…you know, recession’s that purge the excesses. That management started long time ago.
RE ain’t tumbling it’s just a correction.
If you understand their policies you would never be out of the market.
The system addicted to low interest rates just like the irresponsible Gov to their debt. (Oops our debt)

#30 Dango on 08.10.21 at 2:19 pm

I got most confusing arousal I’ve ever had while reading this post.

I’d personally like to thank everyone who out bid me on houses over the last year. You truly saved me from myself.

Not all heroes wear capes. Some are draped in debt.

#31 Shawn Allen on 08.10.21 at 2:20 pm

An unfortunate pun…

“We’re at a loss.” said the first schmuck. Indeed so, literally and figuratively. Sorry for your loss… (Well, not really, Schadenfreude is real.) Thanks for the entertainment.

#32 Shakabra on 08.10.21 at 2:21 pm

Since when did a Reddit post or two constitute a wide crises? Do you have any actual data or study references?

By the way, my work policy is now officially “flexible”. The one rule: you must live in Canada and they recommend driving distance to work because you can be called in within a day’s notice.

#33 Fred Stillman on 08.10.21 at 2:24 pm

Email from head office yesterday here in ottawa 200 empolyees. August in office is optional, Septermber, eveyone be back full time. Masking required if closer than 6 feet to someone, pull desks apart if too close. simple.
Also if not vaccinated need doctor’s note,

#34 the jaguar on 08.10.21 at 2:25 pm

@#15 Bob. Move over a little bit, Bob. Make room for the Jaguar who wants to queeze in next to you on the schadenfreude bench, lol.

#35 Madcat on 08.10.21 at 2:31 pm

If it wasn’t for the hard data on sales in rural areas during the pandemic I would have thought these stories to be make believe…

#36 Queen Elizabeth II on 08.10.21 at 2:33 pm

Working from home may suck, but working from palace is quite jolly.

But meeting my retirement criteria (death) is not so jolly.

#37 Kyle on 08.10.21 at 2:34 pm

DELETED

#38 northshoreeng on 08.10.21 at 2:38 pm

sold condo in Toronto and went to BROOKS ALBERTA?
really?
Have any of you been to BROOKS ALBERTA?
There is no way that happened.

I guess time to put in a resume to one of the local slaughter houses.

#39 Chameleon on 08.10.21 at 2:40 pm

#26 Felix

Mutts are so dogawfully lazy.

Hey Felix, I’m quite certain that I learned from your Feline Friday recently that cats sleep an average of 16-20 hours a day.

I know they are very efficient the remaining 4 hours or so. Still, that’s a lot of day dreaming.

#40 I’m stupid on 08.10.21 at 2:45 pm

Think of how stupid the average person is. Now think that 50% of people are dumber than that!

#41 Swanson on 08.10.21 at 2:47 pm

I saw this post on Reddit yesterday and immediately thought of this blog.

#42 wallflower on 08.10.21 at 2:51 pm

I did it in year 1998.
WFH.
20 years freelance (only source of household income for family).
Most of it in a small town hinterland GTA.
Loved it.
Then retired.
Love not working, too!

#43 TheDood on 08.10.21 at 2:53 pm

#9 TeeVee on 08.10.21 at 1:44 pm
How can you buy something like that without seeing it?

It is one of the biggest purchases? Why wouldn’t you just rent and go visit?

I don’t get people.

Was watching a TVO thing about housing situation in Vancouver. There was a very smart woman featured in the programme that really summed up the situation well cleanly about the economy of Vancouver. Hold on let me look for it……found it!

Vancouver: No Fixed Address
https://www.tvo.org/video/documentaries/vancouver-no-fixed-address

She says…”In many ways Vancouver is a manufacturing sector. We manufacture AND export condominiums. But…they just stay here.”

The woman who makes this quote is Sandy Garossino, Former Crown Prosecutor. I really enjoy it when someone sums things up so cleanly.

The programme actually talks about people and housing situation in North Van, East Van, West Van…and then shows people living out of a Chevy Van…forced and unable to afford housing. Brutal.

_________________________

The economy of Vancouver? LOL. One of the biggest (if not the biggest) drivers of the economy is locals selling over-priced real estate to one another.

The preferred employers of the province are the 3 levels of government and possibly the utility companies, one of which is owned/operated by the government. Not because any of them pay well, but because they offer DBB pensions and good benefits.

There are ZERO (I repeat – ZZZEEERROO!) employers in the province that pay anywhere near enough for locals to afford local real estate – unless you’re a successful realtor. All the industries that did pay a decent salary have been shut down and chased out – Mining, Fishing, Lumber, etc. Just look what the O&G industry was dealing with for pipeline expansion into the province.

If you want a striking contrast between business friendly environment with higher paying incomes vs nanny state, high tax, chase away business investment environment, look no further than Seattle vs Vancouver. Seattle is home to the who’s who of the S&P 500, Vancouver is home to ……….. big spending government with their hands in everyone’s pocket.

My industry peers in Seattle make double what I do, pay less tax, and live in housing that costs 50% less. Until Canadians are educated enough to look at things from a more holistic lens and vote accordingly (not happening anytime soon), nothing will change our course.

#44 sm_yyc on 08.10.21 at 2:53 pm

one will be an idiot to buy RE in brooks when you reside in ON without visiting brooks first. The stench from the meat plant will have you questioning in no time. This buyer deserves to burn.

#45 Miss Anthropic on 08.10.21 at 2:53 pm

Why isn’t the sentence “ It was a friendly nice-looking dog but seemed hungry” followed by “we gave it water and food”?

#46 ElGatoNerodeYVR on 08.10.21 at 2:56 pm

I think we all knew this will be coming .
There is only one rule in RE :location location location .
That is AFTER you are 100% sure that you can afford the price(30% of net income) and the financial hit in case you need to sell in a hurry.
No offense to the fine people of Brooks,AB but one used to living in a Tier 1 city downtown would never be happy in small town AB, even Calgary withier their 2 square blocks downtown wouldn’t cut it ,Brooks even less.
These people made a bad move, accept the loss and move on, a 5% loss is acceptable now to avoid more ,places like that are very hard to move in any market .
So many people read this blog and still don’t get that Vancouver and Toronto are clear exceptions to the normal RE cycles ,at least for now and the foreseeable future.
If you work( for someone else)for a living never ever buy more than 1 hour drive away from a major employment centre.

#47 wfh on 08.10.21 at 2:58 pm

right, you chose a probably fake post on reddit to draw a conclusion that confirms your anti-WFH bias.. most people are not stupid, and many people WILL WFH permanently since in most cases it’s a win-win for them and their employers.

the people whose WFH status became or will become officially permanent can move to the cottages that the tiny number of regretful WFHers have to abandon, and it will even out in the end (or even increase the demand for cottages)

#48 hwy_str on 08.10.21 at 2:59 pm

Don’t you worry my little scared beavers. Papa Justin and Mama Chrystia will bail you out.

#49 Yuus bin Haad on 08.10.21 at 3:00 pm

Suggestions? Advice? Maybe pay attention from now on?

#50 Jeannot on 08.10.21 at 3:06 pm

Since the pandemic proved that WFH can work, and since not commuting to work twice a day is very good for the environment, why don’t our wise leaders (who have declared that we are in a climate emergency) propose a law stating that any employee that can work from home must be allowed to do so if he choose to. I personally didn’t fill my car for months when I worked from home.

If they don’t implement this very simple solution, I would suggest them to stop saying “climate emergency”. Words matter. If it really was an emergency, they would take action. As it is, it sounds like empty words to me.

#51 PC Load Letter on 08.10.21 at 3:08 pm

Brooks, wow. That is a random choice. I can think of many words to describe Brooks (and it’s not all bad, Lake Newell is nearby) but “cute” is not one of them. Take your lumps, sell and escape as soon as possible.

#52 Dolce Vita on 08.10.21 at 3:09 pm

Brooks is the best pheasant hunting in Canada.

Pelee Island doesn’t count as the poor things are raised as pets, let loose in the bush so then hunters can shoot them.

Did both. Preferred Brooks for me and my Springer Spaniel before he got dognapped.

My Italian Mother, God Bless rest her soul, cooked an amazing pheasant and with a polenta side…nothing quite as good.

——

Beautiful, beautiful image Republic of Georgia Craig.

——————–

Schadenfreude it is Garth, indeed. As many have said already and I will too:

Reap what you sow.

#53 Shortymac on 08.10.21 at 3:20 pm

It makes sense that women don’t want to go back to the office, they bare the burgen of child care.

For example, my best friend is saving $1300/mon by WFH, thankfully her job is permanent WFH so she can continue to reap the benefits.

I’m hoping I can continue to WFH after my baby is born as I’m currently a contract employee and going on mat leave would cause me to lose my job.

I’m slated to be rolled into permanent but, thanks to the OPS allowing employees to hold onto their previous positions, could take a year.

I have 2 months of leave saved up, and I would like to WFH afterwards to physically heal from birth and continue to breastfeed without having to put myself in a closet to pump. My husband will be able to take paternity leave to watch the baby during working hours so that won’t be an issue.

I think the return to work is premature and more companies should embrace it, the reality is most people sit in front of their PC for work and there’s no need to physically be in an office to perform their work. Workplaces should embrace it and save money on rent instead. Win win for everyone.

#54 Dolce Vita on 08.10.21 at 3:22 pm

Sigh of relief.

Canada got 301,560 doses yesterday ending what amounts to a near drought in vax deliveries for the past 12 days.

61.73M doses recvd as of yesterday. Enough to vax the 12+ population to about:

90% two doses.

OK for Gov Canada to slow down purchases even if evil Delta herd immunity approaches 90% (so far, the worst case).

Canada finally broke the 6M unvaxd 12+ yrs old threshold yesterday but barely, now at at 5.98M.

Vaxing rate still going downhill. Yesterday:

7-day vax avg = 186,153 doses administered. The lowest since Apr 25, 2021.

————–

Still, the above is progress. Some of it too slow. Canada now has the wherewithal to kick Delta in the nards.

Hope is the last to die.

#55 Doug in London on 08.10.21 at 3:23 pm

You wonder why those fools in Middle of Nowhereville didn’t think of what’s happening now when they bought. They should have waited until now to buy there.

#56 Sara on 08.10.21 at 3:25 pm

#43 Miss Anthropic on 08.10.21 at 2:53 pm
Why isn’t the sentence “ It was a friendly nice-looking dog but seemed hungry” followed by “we gave it water and food”?
==============

That’s what I was thinking also. Poor puppy.

#57 IHCTD9 on 08.10.21 at 3:29 pm

5274 ads for puppies in Ontario per Kijiji right now!

#58 Andrewski on 08.10.21 at 3:36 pm

Sadly, the person who bought in Alberta, is the laughing stock of Brooks, as their story was a highlight for the locals to mock the big city schmuck who bought sight unseen.

#59 Prince Polo on 08.10.21 at 3:38 pm

As all astute blog dogs know, the patient ones will be rewarded with the pick-of-the-real-estate-litter and a pat on the head for being a good boy/girl. Who wants a treat?

#60 Barry on 08.10.21 at 3:40 pm

We have a nice 40 year old but fully paid for condo in White Rock,BC. When we move to Victoria we can get a beautiful “newish” 2 bedroom condo with a spectacular view of the ocean for under $4,000/month. Sounds crazy, right? Well … 75% of the rent can be paid for by investing the sale proceeds into a “safe” tax efficient dividend paying stock like BCE while the other 25% is derived from my portfolio income. Given the present strata fee, yearly maintenance costs, house insurance etc and the lack of headaches since someone else will be paying the costs I am ahead if not financially, then in “wellness”.

#61 Rook on 08.10.21 at 3:41 pm

Jeannot on 08.10.21 at 3:06 pm

Since the pandemic proved that WFH can work, and since not commuting to work twice a day is very good for the environment, why don’t our wise leaders (who have declared that we are in a climate emergency) propose a law stating that any employee that can work from home must be allowed to do so if he choose to. I personally didn’t fill my car for months when I worked from home.

—————————————-

As we’ve seen with the vaccine, voluntary uptake doesn’t work. So, stronger measures are needed.

In Rio and Sao Paulo in Brazil, only certain license plates are allowed on the street on certain days. Why don’t we adopt that here, only make it for family names, instead? Divide the alphabet into thirds, and make it so only people with specific last names beginning with that day’s letter can freely move about on 2 days a week, and leave, Oh, let’s go with Thursday, as the free-for-all.

After all, it will keep people safe, help the environment, and definitely stop the spread of pathogens. If we want to get serious about public safety and public health and the environment, drastic measures are needed.

#62 Honest Realtor on 08.10.21 at 3:41 pm

Wise words, Garth.

I’ve never pushed my clients to buy overpriced places in the sticks.

Instead, for many months I’ve been telling them to shop carefully in the GTA and buy whatever they can afford.

Sometime this fall and winter, there will be an unseasonal surge in people looking to get back into the 416/905 property markets.

Toronto and area looks golden for 2022, and the upcoming immigration surge should at least triple prices there by the the early 2030s.

#63 Don Guillermo on 08.10.21 at 3:48 pm

#41 TheDood on 08.10.21 at 2:53 pm
#9 TeeVee on 08.10.21 at 1:44 pm
How can you buy something like that without seeing it?

It is one of the biggest purchases? Why wouldn’t you just rent and go visit?

I don’t get people.

Was watching a TVO thing about housing situation in Vancouver. There was a very smart woman featured in the programme that really summed up the situation well cleanly about the economy of Vancouver. Hold on let me look for it……found it!

Vancouver: No Fixed Address
https://www.tvo.org/video/documentaries/vancouver-no-fixed-address

She says…”In many ways Vancouver is a manufacturing sector. We manufacture AND export condominiums. But…they just stay here.”

The woman who makes this quote is Sandy Garossino, Former Crown Prosecutor. I really enjoy it when someone sums things up so cleanly.

The programme actually talks about people and housing situation in North Van, East Van, West Van…and then shows people living out of a Chevy Van…forced and unable to afford housing. Brutal.

_________________________

The economy of Vancouver? LOL. One of the biggest (if not the biggest) drivers of the economy is locals selling over-priced real estate to one another.

The preferred employers of the province are the 3 levels of government and possibly the utility companies, one of which is owned/operated by the government. Not because any of them pay well, but because they offer DBB pensions and good benefits.

There are ZERO (I repeat – ZZZEEERROO!) employers in the province that pay anywhere near enough for locals to afford local real estate – unless you’re a successful realtor. All the industries that did pay a decent salary have been shut down and chased out – Mining, Fishing, Lumber, etc. Just look what the O&G industry was dealing with for pipeline expansion into the province.

If you want a striking contrast between business friendly environment with higher paying incomes vs nanny state, high tax, chase away business investment environment, look no further than Seattle vs Vancouver. Seattle is home to the who’s who of the S&P 500, Vancouver is home to ……….. big spending government with their hands in everyone’s pocket.

My industry peers in Seattle make double what I do, pay less tax, and live in housing that costs 50% less. Until Canadians are educated enough to look at things from a more holistic lens and vote accordingly (not happening anytime soon), nothing will change our course.
***********************************
Hahaha, This is a list of large or well-known interstate or international companies headquartered in the Seattle metropolitan area as of November 2016 (from Wiki).
Seattle, Washington was home to six Fortune 500 companies: Internet retailer Amazon (#18), coffee chain Starbucks (#146), clothing merchant Nordstrom (#197), Weyerhaeuser (#373), Expeditors International (#390), and Alaska Airlines (#459).[1] Four more are located in the metropolitan area: Costco Wholesale (#15), Microsoft (#25), Paccar (#147), and Expedia Group (#385).

As apposed to Vancouver … let’s see Lululemon?

Also Brooks dude? Has to be a troll. Someone trying to start a Toronto/Alberta dustup..

#64 IHCTD9 on 08.10.21 at 3:51 pm

#17 Ian Desjardins on 08.10.21 at 1:58 pm
What I find amusing is that these were people who probably read this blog seeing as they wrote you. Obviously they did not believe what Garth had to say. It shows just how much emotions can influence decisions.
———

I got the impression those quotes came from Reddit.

I sure as h3ll would not write Mr. T looking for empathy if I had done what they did!

#65 Nonplused on 08.10.21 at 3:53 pm

#54 Sara on 08.10.21 at 3:25 pm
#43 Miss Anthropic on 08.10.21 at 2:53 pm
Why isn’t the sentence “ It was a friendly nice-looking dog but seemed hungry” followed by “we gave it water and food”?
==============

That’s what I was thinking also. Poor puppy.

—————————

Why do you think the dog followed them all the way up the mountain? For the heck of it?

Anyone who knows dogs knows the last one to give it a treat is their new best friend.

Strange though, how easy it is to read malice, evil, and negligence into something that simply wasn’t mentioned. They may have fed the dog, may not have, or may not have had any food. All we have is “seemed hungry”. Well, most dogs seem hungry if you are giving them food. They don’t say “no” and they don’t watch their weight.

#66 Doug t on 08.10.21 at 3:54 pm

Work is so yesterday – FIRE is now baby – apparently the millennials and genxers found out you only live once and then the party is over – so why bother wasting this small sliver of time on this rock doing something boring – get on the dole and rock your sole – they all maybe smarter than all of us after all

#67 Doug t on 08.10.21 at 3:55 pm

Edit SOUL

#68 Nonplused on 08.10.21 at 3:56 pm

Reposting for jaguar from yesterday incase they missed it. Yesterday was vaccine related so the comments went long.

#212 Nonplused on 08.09.21 at 9:39 pm
#175 the jaguar on 08.09.21 at 8:10 pm

Where is Non Plused with his rental eviction theory?

The comments are too busy with vaccines today. I tried to post it up yesterday but it must of got lost in the internets. I didn’t get a delete and I doubt it got ghosted.

Anyway maybe I’ll wait until Garth posts about something similar to the topic. And it isn’t so much of a theory as say watching a dumpster fire and wondering how on earth we’re going to clean up this mess. It is going to be worse than CERB by a good stretch.

Here are some things to thing about:

CERB was supposed to help the unemployed pay the rent.

The eviction moratorium meant that many of them didn’t, even if they had the money.

Many landlords haven’t been paid in a year.

Landlord assistance hasn’t really got where it was supposed to go. Nobody cares about landlords and their travails.

There is a huge logical discord in trying to figure out how CERB was granted to pay the rent, the rent wasn’t paid, so now the government is going to also have to bail out the landlords. It’s a double bailout with the tenants keeping half of it as free money.

In short, CERB combined with an eviction moratorium severely underestimated people’s propensity to mischief, and much mischief occurred.

Any sort of attempt to re-establish property rights will mean the tenants who did not pay will be forced to reckon with their sins. However that is unlikely to happen. Eviction is probably the worst they face.

The landlords, on the other hand, are screwed. The government could bail them out too, but CERB was supposed to do that.

Something bad just happened and we haven’t even begun to discuss the ramifications. Do we let the “Keep Your Rent” crowd get away with one of the biggest heists in history? Do we let the landlords go bankrupt and Blackrock by it all up?

If there is an easy solution, it has escaped me.

Actually that pretty much sums it up.

#69 SW on 08.10.21 at 3:56 pm

“…I don’t personally mind commuting part time but she’s livid about the situation and refuses to live here now…”

Oh, ffs. Tell her to grow up. She’s not in Afghanistan or washing up on some Mediterranean beach.

Kids, adversity is quite useful for a relationship. If you love someone who behaves like this, woman or man, I’m sorry but you’ve got proof you picked a wrong ‘un.

#70 Blobby on 08.10.21 at 3:58 pm

“no offer has come in that we break even on let alone profit.”

Kinda weird people seem to think you should always profit from a home – even after 6 months

#71 crowdedelevatorfartz on 08.10.21 at 4:01 pm

Liberals announce another $321 Million to search for unmarked graves.

#72 1 point Three Blind Mice on 08.10.21 at 4:09 pm

#9 TeeVee on 08.10.21 at 1:44 pm

How can you buy something like that without seeing it?

It is one of the biggest purchases? Why wouldn’t you just rent and go visit?

I don’t get people.

———————————————–
Neighbors here in “Surrey-by-the-Lake” just sold their house for over $1.3M to a Big Smoker . . . apparently sight unseen. A plane ticket would have set them back less than $500, all in.

#73 Planetgoofy on 08.10.21 at 4:09 pm

#55 IHCTD9 on 08.10.21 at 3:29 pm
5274 ads for puppies in Ontario per Kijiji right now!
————————————————————–
People are insane….
Covid hits….GET A PUPPUY! GET AN RV!….Pile into and bid up housing!
and Now…….
Get rid of the puppy, to much work. Lose the RV as ya gotta pay storage and payments year round while the thing deteriorates and its only used it for 2 weeks a yr….
How were those $12 2″x4″s…?

#74 Squire on 08.10.21 at 4:14 pm

As they say…. you can get more money but you can’t get more time. I can only imagine the time spend commuting long distances. The oil changes, tire changes, car changes, gas, etc and most important of all, time.

#75 I Reddit in a magazine on 08.10.21 at 4:18 pm

#20 crowdedelevatorfartz on 08.10.21 at 2:00 pm

Unbelievable that these people would read this blog and STILL buy a house and then comment on this blog about it.

You were warned…
Sell.
Take the hit.
Or sell later.
Take a bigger hit.

________________________________________

Unbelievable that someone would themselves make such a comment …. when in fact the article clearly stated …

“My wife and I bought 6 months ago at the height of the housing market it seems now,” says some FOMO addict on Reddit.

No, wait … now it makes sense … the same guy that only a month ago reported the wrong B.C. town was on fire … but then wasn’t man enough to admit he was wrong and blamed the news anchor instead.

Yup, got it! Something stinks here … who Fartzed?

#76 Laugh out loud(er) on 08.10.21 at 4:21 pm

#23 crowdedelevatorfartz on 08.10.21 at 2:07 pm

@#249 Toronto CA

“Do people even realize how dumb they sound?”

+++

I can think of one that doesn’t…..

I think he meant …. other than yourself.

#77 Dave on 08.10.21 at 4:23 pm

In Metro Vancouver the real estate is red hot…bidding wars and sales a couple of $100ks over asking!!!

4th wave coming…..every time there is a wave it is a buying signal – banks can’t touch their rates.

The above stories are not relatable to BC

#78 Heather Priest on 08.10.21 at 4:30 pm

Google to pay employees based on distance from workplace, not wfh status.

“Screenshots of Google’s internal salary calculator seen by Reuters show that an employee living in Stamford, Connecticut – an hour from New York City by train – would be paid 15% less if she worked from home, while a colleague from the same office living in New York City would see no cut from working from home.”
https://www.reuters.com/world/the-great-reboot/pay-cut-google-employees-who-work-home-could-lose-money-2021-08-10/

#79 Yes, you are stupid! on 08.10.21 at 4:35 pm

#38 I’m stupid on 08.10.21 at 2:45 pm

Think of how stupid the average person is. Now think that 50% of people are dumber than that!

————————————–
That would be “median”, not “average”.

You just proved your point about how stoopid you really are – again.
I sorted you out a few weeks back as well for your inane banter.

Example usage –> It’s very possible that you were included in the poll and this greatly brought the average down, but not the median.

#80 Flop… on 08.10.21 at 4:36 pm

is divorce an option?

#81 Vstrom Rider on 08.10.21 at 4:39 pm

It’s a shame you people are laughing and gloating at these poor peoples’ misfortune. All they wanted was a reasonably priced house, and they couldn’t find that in the ridiculous market that is Toronto so they moved somewhere affordable. It’s one thing to laugh at some greedy idiot who loses his money in a get rich quick scheme, but these people deserve our sympathy, not ridicule. Shame shame!

#82 Flop… on 08.10.21 at 4:41 pm

#29 Shawn Allen on 08.10.21 at 2:20 pm
An unfortunate pun…

***
since when Shawn Allen has been back?
Real Shawn Allen?

#83 Mattl on 08.10.21 at 4:42 pm

While I understand some people were stupid enough to assume WFH was permanent, I have a hard time believing the number is statistically significant. We have more then 50K employees and have been communicating with our staff regularly on what comes next. That would be the same for most employers.

This sounds like the mortgage deferral cliff that never appeared. Turns out people could afford their mortgage like many of us predicted. I am predicting that 99%+ of folks that are working from home today understand what future work state looks like.

And FWIW we are offering 5k+ employees a remote / hybrid option. A meaningful percentage of people that went home are not coming back in. Large, traditionally WFW companies figured out how to manage remote workforces and will be significantly downsizing urban RE. Smart employers are using hybrid / wfh arrangements to secure talent. I hope like hell my competitors force their employees back into cubicles, their best people can come work on my team.

Choose remote = career gamble. – Garth

#84 Schaden Freudian slip on 08.10.21 at 4:45 pm

Many of you are not aware that your blog host has a long term lease on downtown Toronto office property. Perhaps he is seeing the future through rose-colored glasses.

Just saying … no Schadenfreude here.

Funny guy. My corporate partner does. I happily let them pay the bills. – Garth

#85 Cici on 08.10.21 at 4:50 pm

#20 crowdedelevatorfartz on 08.10.21 at 2:00 pm
Unbelievable that these people would read this blog and STILL buy a house and then comment on this blog about it.

You were warned…
Sell.
Take the hit.
Or sell later.
Take a bigger hit.
____________________________________________

To be fair, I don’t think any of the two case studies were Greaterfool.ca readers. The first example came from a recent Reddit post:

“My wife and I bought 6 months ago at the height of the housing market it seems now,” says some FOMO addict on Reddit.”

#86 The West on 08.10.21 at 4:55 pm

You are correct about one thing to be sure:

Social upheaval is coming and, it’s not limited to a Canadians variety. It will be blamed on all the things our minds have been infected with while we were locked in our kennels. There is a potent mixture of three things ingrained into the public psyche right now: confusion, anger and desperation.

It may take another year yet but, rest assured, the public will eventually realize just how grossly it has been had; the future is a lot less friendly than T2 promising money to everyone and everything with that coy, sideways smile.

https://www.youtube.com/watch?v=cpbbuaIA3Ds

It’s going to be a really interesting decade.

#87 ogdoad on 08.10.21 at 4:56 pm

Well, you reap what you sow. Entitled off-spring who think they can do no wrong. Prob b/c they weren’t allowed to make mistakes….first for everything – I have no sympathy.

The gap widens and the aggression mounts. How’s your social capital?

Og

#88 NOSTRADAMUS on 08.10.21 at 4:58 pm

SOCIAL EXPLOSION COMING RIGHT UP!
There is only so much disposable income left after servicing debt, and obviously the more debt you pile on, the less income there is to spend on goods and services. As I have said many times before, much like a broken record, these negative interest rates risk a “social explosion.” So far, it has been accepted that one group (saves) are thrown under the bus for the benefit of the invested. Something is drastically wrong when central planners decide, they will intentionally harm one group for the benefit of another. For 12 long years holders of currency have had historical norms dispensed with. Not by economic forces, but by the decisions made by the unelected who ignore the mandate under which they are allowed to exist. I don’t think I’m being Pollyannaish or looking for rainbows and I don’t live in Mayberry, so, here’s the answer to the question to frightful to say out loud. ” A SOCIAL EXPLOSION IS COMING RIGHT UP.” I am on my throne and I will not step down.

#89 Flop… on 08.10.21 at 5:06 pm

#76 Flop… on 08.10.21 at 4:36 pm
is divorce an option?

#77 Flop… on 08.10.21 at 4:41 pm
#29 Shawn Allen on 08.10.21 at 2:20 pm
An unfortunate pun…

***
since when Shawn Allen has been back?
Real Shawn Allen?

////////////////////

I sit down to eat my afternoon ice cream and I see Fake Flop has already cranked out two posts on my behalf.

Fair warning.

I’m Canada’s 7,869,844 person in charge.

You will respect my authority…

M47BC

#90 BlogDog123 on 08.10.21 at 5:06 pm

Dear People trying to sell your house so soon after buying:

Tough crap. People had this same problem during the GTA real estate meltdown in the late 80’s early 90’s, prices didn’t recover for a few years.

Your local Realtor(TM) is ready, willing and able to vulch on your property letting you take a bath on the lower selling price…

Those transaction costs are a pain: Lawyers, agents, staging, … but life is like a box of chocolates…

#91 Mattl on 08.10.21 at 5:08 pm

Choose remote = career gamble. – Garth

———————————————–
Not in our org, we have tools to measure productivity. I get that some workplaces communicate by sticking their head out their door, and measure productivity by time in seat. Thankfully the companies I’ve worked for are beyond that.

The workplace is changing Garth. Top employees need access to shared workspace, travel budgets to meet clients and collaborate, hosted events, and tools to bridge the gap between trad office and home office. Not all companies can provide that and for those that can’t, you need your people in a tower. That’s fine.

I respect your position but you have a blind spot here, WFH has been growing at double digits for a decade pre pandemic, there is a better way to work and the employers that can solve for Hybrid and WFH will secure the best talent. There is significant grey area here, it’s not as black and white as you want to make it.

#92 Victoria on 08.10.21 at 5:13 pm

I can’t think why anyone would assume that working from home would be forever? I just can’t get my head around that.

#93 crowdedelevatorfartz on 08.10.21 at 5:13 pm

@#79 Freudian Slip
“Many of you are not aware that your blog host has a long term lease on downtown Toronto office property. Perhaps he is seeing the future through rose-colored glasses.

Just saying … no Schadenfreude here.”

+++

A crossdressing Realtor I presume?

#94 S.Bby on 08.10.21 at 5:14 pm

The bosses have to justify their existence and companies have expensive offices so they want the serfs back at their desks.

#95 Bankrupting Landlords = Good for the Economy on 08.10.21 at 5:20 pm

These anecdotes might just be that, anecdotes. Many people simply left big cities simply because they are not worth it.

Is someone making 80k$ in Vancouver really better off than someone making 50k$ in Hope or Chilliwack?

Great time for a career change.

#96 RE_Investor on 08.10.21 at 5:21 pm

Still waiting for that RE Price dip or crash so I can buy again. I do see houses in my GTA preferred areas levelling off, but no real panic yet, and rental rates still seem high. My last purchase was 2018 for a Mississauga semi by UofT, where the owner seemed panicky to get out of the market (I met her during my offer). Got it for a real good price, that of course was cash flow positive from day one. She told me the April 2017 Ontario fair housing plan worried her and she was done holding RE. After the deal cleared, I could see she was over-leveraged and the final pay-out to her was small.

Always good reading both sides of the Real Estate Market, but I definitely like reading the bearish tone blogs. Keeps me hoping that people will take their new found knowledge and sell. Hopefully one day we will have a buyer’s market and higher rates. That is my time to unload my money onto a few properties.

Remember folks, never over leverage on investments. If you can buy with all cash, do it. Margin accounts will kill you off financially during downturns, and so will excessive mortgage debt when RE prices correct.

Good luck everyone.

#97 cuke and tomato picker on 08.10.21 at 5:28 pm

I would stay away from Alberta no matter what the price of a house costs there.

#98 binky barnes on 08.10.21 at 5:34 pm

Just wait until the PM PM (Mr. Justin Trudeau) gets stuck into this whole mess: he will sort it out lickety-split. That is what the PM PM does: sorts out messes.

BB

#99 HellYeah on 08.10.21 at 5:40 pm

I came here to post the link to the Reddit post and, what do you know, GT beat me to it!

Sometimes people make bad decisions. Hope they learn from this experience. Though given the tenor of the post, I’m not sure they have a ton of self awareness.

#100 Shaun on 08.10.21 at 5:40 pm

Garth, when I came to hear you speak at the Victorian Inn each January/February RRSP season from 1988 or so onward… Stratford’s population was 32,000.
My hometown signage as you enter via Ontario St West, Huron St South, Mornington St South or Erie St East is to this day still 32,000! Downie St North has no population signage.
Peter Hi…, Paul Gr…, to partially name a few Realtor/Owners/Brokers are again stretching the truth re pop., massaging the numbers etc. Toronto boomers have been selling out over 20 years, moving to Stratford in retirement, continue enjoying theatre and restaurants they visited each summer over the years and then leave Dodge to live in the warm south from November to spring in non covid years. Stratford is “Hockeytown” in the winter. Snow belt country! The WFHers are going to be force feed a world of financial hurt when they have to sell at a significantly reduced amount to relocate back to the GTA.
M64

#101 crowdedelevatorfartz on 08.10.21 at 5:43 pm

@#72 Eye Read it

My mistake.
The stupidity of the new homeowners whining about their predicament had me a bit frazzled
Apologies to all Reddit Nazis everywhere.
P.S.
Chris Gailus is toast in less than a year.
His mistakes on air are unforgivable
:)
His ratings are dismal.

#102 Upenuff on 08.10.21 at 5:43 pm

The Dood
The economy of Vancouver? LOL. One of the biggest (if not the biggest) drivers of the economy is locals selling over-priced real estate to one another.
_________________________________________

Nice

#103 Annek on 08.10.21 at 5:43 pm

Oh yeah. And the commute. Yuck.

………
I have commuted from Mississauga across Toronto for many years to get to my work and it was Ok then.
I am not working since last year but when I go across the same route on the 401, the traffic is incredible. Not like before. I suspect people are driving rather than taking transit plus all the increased number of trucks due to in line ordering. Moral of the story: Anyone that will have to commute long distance is up for a nightmare drive, especially come September. Covid changed that and it may never get to the way it was before.

#104 crowdedelevatorfartz on 08.10.21 at 5:45 pm

@#73 Louder not smarter
“I think he meant …. other than yourself.”

+++

FYI
If I have read Toronto CA’s comments over the past year or so correctly…..

Toronto CA is a gal…..

#105 Toronto_CA on 08.10.21 at 5:46 pm

Obviously buying a house in another province (outside of Gatineau for Ottawa or something like that) is a ridiculous move if you have not got an iron clad contract that you can work remotely forever.

For those who bought a long commute away, I really doubt they’ll regret their extra space and life if they have to do a long commute twice a week.

On top of that, let’s see how this plays out. My boss was adamant we’d have to come in 2-3 days a week in June. Now he says once every 2 weeks. Some companies have already said they won’t need you back ever, and remote contracts are becoming common place in my firm.

There’s a severe worker shortage at the moment, people will just go to the employer that allows them to come in when they want. Not to fill a desk up because some manager thinks people should be present or they aren’t working.

#106 Yukon Elvis on 08.10.21 at 5:51 pm

Those people will get by. Under the auspices if CERB, UBI, ZIRP and CHORP they will be made whole again in time.

#107 cowtown cowboy on 08.10.21 at 5:57 pm

Shout out to Sailor, picked up a little Moderna before a few days in the Smokanagan…came home to a nice little 40% gain…

#108 Pattern Arsonist on 08.10.21 at 6:00 pm

Check out HouseSigma.. They have a Sold less than Bought section. lots of houses that have changed hands twice this year already with significant loss.

#109 Toronto_CA on 08.10.21 at 6:00 pm

It’s funny I’ve been coming here since 2008 and I can honestly say in that time I have not really ever disagreed with Garth at all when he ventures a strong opinion on a topic. Until very recently.

I am pro-vaccine, have had it, and want everyone to take it.

BUT – I believe taking the vaccine should be a choice, not mandatory; and therefore I am against vaccine passports for domestic use (I can see they will be needed for international travel forever more sadly).

And, I think Garth is wrong on this return to office too. Hybrid is here to stay (at least those who have been able to work remotely during the pandemic), and for many who desire it, fully remote working is here to stay too.

Strange feeling, I hate disagreeing with Garth. He’ll probably end up being right as always though.

#110 Albertastrophe on 08.10.21 at 6:01 pm

Look west. through the smoke.

The real estate disaster about to unfold there will be stunning.

With the IPCC calling its latest report, just 90 days before the next global meeting:

“Code Red for humanity”

Plus:

“The world must brace itself for worse – potentially much worse – to come”

“The alarm bells are deafening, and the evidence is irrefutable: greenhouse gas emissions from fossil fuel burning and deforestation are choking our planet and putting billions of people at immediate risk.”

“The new IPCC report is not a drill but the final warning that the bubble of empty promises is about to burst,” said Saleemul Huq, director of the International Centre for Climate Change and Development in Dhaka.

“It’s suicidal, and economically irrational to keep procrastinating.”

https://www.dailysabah.com/life/environment/red-alert-no-good-news-in-ipcc-report-earth-to-blow-paris-limit

G20 in October. UN Climate Conference in November.

More pipelines in Canada? Fuggetaboutit.

Alberta real estate?

80-90% discounts coming very soon.

#111 Shawn Allen on 08.10.21 at 6:06 pm

Shawn Allen is back?

#77 Flop… on 08.10.21 at 4:41 pm
#29 Shawn Allen on 08.10.21 at 2:20 pm
An unfortunate pun…

***
since when Shawn Allen has been back?
Real Shawn Allen?

****************************
Yeah that’s me. Decided to drop back in while on month-long vacation in Maritimes.

Surprised Garth has let this momentous occasion go unremarked until now.

In North Sydney Nova Scotia this day.

#112 Ponzius Pilatus on 08.10.21 at 6:08 pm

#244 Dharma Bum on 08.10.21 at 10:37 am
#165 Dale

Maybe they should give the shot in everyone’s ass.
———————————————————————————

Now, that will definitely change the minds of at least 80% of the anti-vaxers!
———–
Great slogan.
“Get your Jab”
“Don’t be an Assman”

#113 Idiocy on 08.10.21 at 6:10 pm

Not so sure that prices in towns outside of the GTA with good job prospects will dip much.

In Kitchener-Waterloo, Guelph, Cambridge and the like, salaries are pretty good and many people having discovered a less stressful lifestyle there may not want to return to the Toronto ” lifestyle”.

The cost of living in Toronto is also much higher than in the towns that I have mentioned.

#114 Ponzius Pilatus on 08.10.21 at 6:21 pm

WE got Andrew Cuomo.
Even the Cosa Nostra could not help him.
Who’s next?
CEF?

#115 WFH coming back on 08.10.21 at 6:23 pm

Active case count in BC have double in just 7 days. Just like what the mathematical models predict in the growth of Delta. Imagine that.

Hospitalizations are up 35% from last Friday. Deaths are once again being recorded after no deaths for awhile.

70.6% of people in BC have had their 2nd shot.

Active case counts are going up in a straight line on the chart. It is nuts.

I have made some accurate calls over the past years, but this 4th wave was not one of them. I thought the cases were going to fizzle out by now.

In fact, I think the media downplayed the significance of what has been going on the past several months.

This is a complete 180 turn from what was expected once the majority of people received vaccinations.

You would be absolutely nuts to return to the city right now. If your employer is forcing you back, quit.

From what I am seeing in the hospitals in BC, Canada needs to start administering booster shots as of November, especially to people over 70.

Rapid testing technology needs to improve so that we have a reliable rapid test.

And anti-viral drug therapy for those sick needs to vastly improve so that there is a therapy that effectively treats those infected.

I don’t think anyone knows where this whole thing is headed.

#116 Joe Schmoe on 08.10.21 at 6:27 pm

Geez…..I can’t even pull the trigger on $3000 Honda Grom sight un-seen….

My better half and I were trying to get some house renos done this summer…started the process in Dec 2020….didn’t pull the trigger on that either…prices/timelines were crazy.

Every contractor has called this week with availability/sharper pencils…seems even the reno boom is ending.

#117 Sail Away on 08.10.21 at 6:49 pm

#107 cowtown cowboy on 08.10.21 at 5:57 pm

Shout out to Sailor, picked up a little Moderna before a few days in the Smokanagan…came home to a nice little 40% gain…

———

Haha, glad to hear it!

Monitoring the emotional climate and capitalizing on it is a great recipe for accumulating obscene wealth, as long as one can remain unaffected and unmoved by the emotion. Most people (like 99.99%) are not cut out for it.

#118 Linda on 08.10.21 at 6:49 pm

Some people embrace the long commute in order to live the lifestyle they truly desire. My father was a firefighter. His home station was on the outskirts of Ottawa, but when circumstances required it he could be based out of other fire stations located in other parts of the city. His preference for lifestyle was small town or country living; for the 40 plus years he was a firefighter his commute was frequently more than an hour away from where he actually lived. The only thing that made it ‘easy’ was that for much of his career the firefighters spent their entire shift living in the station (shifts were generally 3 days). The stations were set up like camps with single beds, showers, a work out room & kitchen. Dad was a darn good cook:)

#119 Matsebula on 08.10.21 at 6:52 pm

Brooks! Cute little town. I have NEVER laughed this hard reading this blog. *Might be overqualified…yeah.

Sorry, this is hilarious.

#120 TurnerNation on 08.10.21 at 7:17 pm

Economic shutdowns. It’s beem said that Ontario has no full reopening plan.
Why?
Hospital capacity? Nope they tore down the never used field hospitals in Toronto, Hamilton. Tens of millions down the drain – diverted from real health care.

Jabs? Nope this chart has all vulnerable people as hit.
https://i.redd.it/8upeqprt4eg71.jpg

So what? Is it the digital ID under development awaiting rollout? Careful what (permanent) controls you wish for.

Everything old is new again. “Hello Comandant? My neighbor is hiding a healthy person in their attic. I’d like to report it”

#121 TheDood on 08.10.21 at 7:23 pm

#109 Toronto_CA on 08.10.21 at 6:00 pm

BUT – I believe taking the vaccine should be a choice, not mandatory; and therefore I am against vaccine passports for domestic use (I can see they will be needed for international travel forever more sadly).

_____________________________

Interesting……

Do you believe people have a right to a safe workplace? Do you believe persons who have been vaccinated and are required to attend the workplace have a right to know if their fellow workers have been vaccinated or not?

Also, if a worker shows up to work with symptoms, how would the company measure or determine the risk of transmission to other workers if vaccination cannot be mandated?

What about people who have older parents living with them, or children with underlying medical issues like asthma, or worse? Do they just show up for work, risk transmission from unvaccinated colleagues, and then take it home with them, with potential to place even more pressure on the medical system?

If you can’t tell, I’m in the camp where the health and safety of human life trumps everything, including human rights and privacy.

#122 Ustabe on 08.10.21 at 7:31 pm

If I was in charge of policy decisions re WFH/WFW in a corp I’d simply place all the extroverts back in the office, leave all the introverts at home and set up reasonable, traceable performance metrics for both.

This “we will pay you less if you work from home” stuff sounds a lot like “you will get paid less because you will be having babies.” “You will get paid less because you have Crohn’s and will be spending excessive time in the toilet”. Etc.

Lots of oblique references to Alberta, some not so nice. Do not count them out just yet. My father, mother and brother all are buried in AB and in Calgary NE there is an office building with the family name on it. Sold long ago but still. I made a lot of money doing business in AB and there is still money to be made. There are real reasons so many Albertans head over the Rockies to summer or vacation in BC. We are both very nice peoples with strong work ethics despite Fartz’s outlook on things. Jim Pattison and Brandt Louie sit down with the BC bashers and suddenly the bashers are whimpering and showing their bellies.

Same with AB…loads of solid national and even multi-national business orgs based out of there. Look up Ken King.

speaking of Ken King I was involved in a venture with one of his lieutenants years ago. In Arizona and involving rezoning land, we were getting beat to a financial pulp by the local development dudes. They wanted us both gone and to eat our cake for free. Ken got on speaker phone with us and mapped a plan of counter attack. Didn’t exactly work as planned but at least we managed to divest and retreat at a near break even point. Most of you wouldn’t give a neighbour the time of day it seems but King took time to become informed of the untenable position we had been put in, devise a plan and freely share it with us. He is the only reason we (almost) broke even.

We were eating our steaks at Mr. Mikes for a time but soon enough were back at the Ranchmen’s.

#123 Drinking on 08.10.21 at 7:39 pm

Realistically Covid will never go away just like a common cold will never go away! All those smug British Columbian’s that really has been hard on other Provinces especially Alberta (which funds half there economy) especially Eastern and interior; could care less what the West coast has to say; they are insane! Anyways, unfortunately it is not going so well.

https://www.cbc.ca/news/canada/british-columbia/covid-19-update-aug10-1.6135948

Good article Garth but you are way ahead of yourself, this pesky virus is going nowhere; large majority in Israel that are double vexed and now triple vexed are finding that it is not working. Never mind the U.K., prepare people! Listen to the silenced science out there never mind MSN.

#124 mark on 08.10.21 at 7:48 pm

I take no pleasure in it, but…

people like this rushed in on a whim, likely displaced low income locals or helped to push down supply and jack up rents in the area for those on low incomes, causing undue stress and havoc in the lives of others.

I guess they now get to experience what panic is.

#125 joe kahn on 08.10.21 at 7:52 pm

Chinese Lockdowns Spark Panic Buying Frenzy & Massive Shortages As Chaos Spread Across Supply Chains according to some.

#126 Burnaby Boy on 08.10.21 at 8:22 pm

So did Craig care for the dog or abandon it after taking a pretty picture. Do tell.

#127 SmallTownSteve on 08.10.21 at 8:28 pm

I think we need to change our national animal from the beaver to the lemming….

#128 Nonplused on 08.10.21 at 8:33 pm

#79 Yes, you are stupid! on 08.10.21 at 4:35 pm
#38 I’m stupid on 08.10.21 at 2:45 pm

Think of how stupid the average person is. Now think that 50% of people are dumber than that!

————————————–
That would be “median”, not “average”.

You just proved your point about how stoopid you really are – again.
I sorted you out a few weeks back as well for your inane banter.

Example usage –> It’s very possible that you were included in the poll and this greatly brought the average down, but not the median.

————————————–

IQ is normally distributed with a very high fit. Who is the dummy now???

#129 april on 08.10.21 at 8:36 pm

#62 …. no such animal as an honest realtor. Their weekly meetings teach them how to deceive.

#130 Albertistan on 08.10.21 at 8:58 pm

Brooks, as Dolce said, great upland hunting. Sorry to hear your Springer was stolen, I have one, great hunting dogs and family Pets. Brooks Bandits, great AHL team. But if you need Starbucks and Hot Yoga to meet your spiritual needs, not a good choice.

That smell, it’s real and downtown can look like a scene from Blackhawk Down.

#131 FriedEggs on 08.10.21 at 9:02 pm

Al Sinclair on Hot Property says its always the right time to buy.
And if its on CP24, its must be true.

#132 the Jaguar on 08.10.21 at 9:19 pm

@#121 TheDood on 08.10.21 at 7:23 pm
thanks for the documentary reference about Vancouver.
It was very well done. An interesting perspective on many levels. Appreciated.

#133 David on 08.10.21 at 9:22 pm

Brooks. Hilarious. On the bright side, they do have an excellent junior hockey team.

#134 ItsAllMagicToMe on 08.10.21 at 9:46 pm

For the fellows arguing about “average” and “median”…

The median is one type of average. The average that some of the posters are referring to is the mean. The average that has not yet been discussed is the mode, which is the value that appears most often.

#135 DON on 08.10.21 at 10:18 pm

#3 Rick Fast on 08.10.21 at 1:38 pm
why would it take years for prices to come back to earth? if we see an interest rate rise and people forced selling to go back to the office, then those are pretty significant short term headwinds, not years, but maybe 1 year. any timelines Garth?

**********
The fed needs more time to see if infaltion is transitory. Kicking the can down the road as far as they can or till after their term is up. Let someone else deal with the fallout.

#136 DON on 08.10.21 at 10:28 pm

#123 Drinking on 08.10.21 at 7:39 pm
Realistically Covid will never go away just like a common cold will never go away! All those smug British Columbian’s that really has been hard on other Provinces especially Alberta (which funds half there economy) especially Eastern and interior; could care less what the West coast has to say; they are insane! Anyways, unfortunately it is not going so well.

***********

WTF???

Time to slow down on the drinking.

I have family in Alberta and they are not that ignorant.

#137 DON on 08.10.21 at 10:41 pm

#101 crowdedelevatorfartz on 08.10.21 at 5:43 pm
@#72 Eye Read it

My mistake.
The stupidity of the new homeowners whining about their predicament had me a bit frazzled
Apologies to all Reddit Nazis everywhere.
P.S.
Chris Gailus is toast in less than a year.
His mistakes on air are unforgivable
:)
His ratings are dismal.

***********

Thank Dog…people are finally noticing his lack of crtical thinking etc.

#138 DON on 08.10.21 at 10:46 pm

#97 cuke and tomato picker on 08.10.21 at 5:28 pm
I would stay away from Alberta no matter what the price of a house costs there.
*****
Why???

#139 fishman on 08.10.21 at 10:53 pm

Big city- Lil town, WFH-WFO, Forests burning, Woke Dippers in political control, obscene prices, no paying jobs, drive by shootings. Don’t matter. Their going to come here by the millions. Unstoppable. We got the water. You’ll never lose investing in B.C.

#140 Balmuto on 08.10.21 at 10:59 pm

#94 S.Bby on 08.10.21 at 5:14 pm
“The bosses have to justify their existence and companies have expensive offices so they want the serfs back at their desks.”

B-I-N-G-O

#141 1255 on 08.10.21 at 11:05 pm

Why work when Trudeau and Ford are handing out free money? I don’t blame those who wish to quit. Enjoying time is more important than working for some Corp that doesn’t care about you.

#142 Nonplused on 08.10.21 at 11:32 pm

#134 ItsAllMagicToMe on 08.10.21 at 9:46 pm
For the fellows arguing about “average” and “median”…

The median is one type of average. The average that some of the posters are referring to is the mean. The average that has not yet been discussed is the mode, which is the value that appears most often.

————————————–

mean = simple average
median = midway point where half the observations are below and half above
mode = most numerous observation

But in a normal distribution the mean, median, and mode are pretty much all the same number, getting closer and closer together the more observations made.

But then if you go and fit your data to a standard distribution, they are the same number!

#143 Vanreal on 08.10.21 at 11:34 pm

My goodness people make some bad decisions. Why would anyone buy in Alberta let alone a small dinky town there. WFH is a bad idea that needs to end.

#144 CJohnC on 08.10.21 at 11:35 pm

In other news China sentenced Michael Spavor to 11 years in prison.

https://www.scmp.com/news/china/diplomacy/article/3144606/chinese-court-sentences-canadian-michael-spavor-11-years-after?utm_medium=email&utm_source=mailchimp&utm_campaign=enlz-breaking_news&utm_content=20210811&tpcc=enlz-breaking_news&MCUID=46c9b6441a&MCCampaignID=b13631c91e&MCAccountID=3775521f5f542047246d9c827&tc=2&mc_cid=b13631c91e&mc_eid=46c9b6441a

#145 DON on 08.10.21 at 11:38 pm

#68 Nonplused on 08.10.21 at 3:56 pm
Reposting for jaguar from yesterday incase they missed it. Yesterday was vaccine related so the comments went long.

#212 Nonplused on 08.09.21 at 9:39 pm
#175 the jaguar on 08.09.21 at 8:10 pm

Where is Non Plused with his rental eviction theory?

The comments are too busy with vaccines today. I tried to post it up yesterday but it must of got lost in the internets. I didn’t get a delete and I doubt it got ghosted.

Anyway maybe I’ll wait until Garth posts about something similar to the topic. And it isn’t so much of a theory as say watching a dumpster fire and wondering how on earth we’re going to clean up this mess. It is going to be worse than CERB by a good stretch.

Here are some things to thing about:

CERB was supposed to help the unemployed pay the rent.

The eviction moratorium meant that many of them didn’t, even if they had the money.

Many landlords haven’t been paid in a year.

Landlord assistance hasn’t really got where it was supposed to go. Nobody cares about landlords and their travails.

There is a huge logical discord in trying to figure out how CERB was granted to pay the rent, the rent wasn’t paid, so now the government is going to also have to bail out the landlords. It’s a double bailout with the tenants keeping half of it as free money.

In short, CERB combined with an eviction moratorium severely underestimated people’s propensity to mischief, and much mischief occurred.

Any sort of attempt to re-establish property rights will mean the tenants who did not pay will be forced to reckon with their sins. However that is unlikely to happen. Eviction is probably the worst they face.

The landlords, on the other hand, are screwed. The government could bail them out too, but CERB was supposed to do that.

Something bad just happened and we haven’t even begun to discuss the ramifications. Do we let the “Keep Your Rent” crowd get away with one of the biggest heists in history? Do we let the landlords go bankrupt and Blackrock by it all up?

If there is an easy solution, it has escaped me.

Actually that pretty much sums it up

********

We can extend the same question to landlords not declaring rental income, how long do we allow that to happen. Too many votes in the way.

#146 CJohnC on 08.10.21 at 11:38 pm

This link may work better

https://www.scmp.com/news/china/diplomacy/article/3144606/chinese-court-sentences-canadian-michael-spavor-11-years-after?module=lead_hero_story&pgtype=homepage

#147 TurnerNation on 08.11.21 at 12:07 am

— Ready for your 5th? ;-)

.Moderna to sign agreement to build mRNA production plant in Canada (cbc.ca)

— Back to normal, any day now! No think 2022-23 – until the Passports and E-currencies are rolled out.

.Gov. David Ige looking at new COVID-19 restrictions for Hawaii(staradvertiser.com)

—–
— How do you develop, test and roll out such a complex system – in only one month? And at there government level, with all the security features and intergration, multiple departments and levels?
Oh….it was planned and developed a long time ago. Nudged with one news story at a time until you cracked.
I call this the New System – circa March 2020 when the world fell in one one week.

.Quebec to implement COVID-19 vaccine passport on Sept. 1 (cbc.ca)


—Texas: we are told hospitals are strained. A for-profit hospital running at under-capacity, means lost profit. Or, maybe no one wants to work there. Bonus question: what happened to the hospital ships ‘Comfort and Mercy’?

https://texasscorecard.com/metroplex/north-texans-protest-employer-vaccine-mandates/
“Texas healthcare workers, who are risking termination if they don’t get a COVID–19 vaccine, protested employer vaccine mandates in Dallas and Fort Worth on Saturday.”

.Hospital ship Comfort departs NYC, having treated fewer than 200 patients
April 30, 2020 http://www.navytimes.com

.Hospital Ship Mercy No Longer Treating Patients, Remains in L.A. for COVID-19 Support –
treated a total of 77 patients
May 7, 2020 news.usni.org

#148 What a SHAME! on 08.11.21 at 12:30 am

Don’t ever trust your life in the hands of government.

Someone has to be the pawn.

https://www.cnn.com/2021/08/10/china/michael-spavor-verdict-intl-hnk/index.html

#149 Dr V on 08.11.21 at 2:01 am

60 Barry – “Sounds crazy, right?”

Well, maybe a little….

BCE current yield 5+% so I’m getting several hundred thousand required to pay a bit under $3k of the rent.

That’s not very diversified. And BCE is paying ALL its current earnings out as dividends. Not very sustainable.

BNS is way cheaper P/E with dividend of 4+% and less than 60% payout so room to grow when the dividend increase moratorium is lifted.

And you have to realize the remaining rent from your portfolio, which you did not before. So the savings on other costs is actually more of a trade off.

Oh, and momma said that speculating with the family home (or condo) is not a good idea. Getting out of a 40 yr old condo isnt a bad idea, and if you have millions working for you it really doesn’t matter.

#150 Dr V on 08.11.21 at 2:11 am

118 Linda

As a young man, I commuted 220 miles one way. the distance from Nanaimo to a logging camp up island.
Many in camp lived in Campbell river, south all the way to Victoria. A long dark drive Friday after work in the winter, with a Sunday return for anybody South of Courtenay (you could drive up Monday morning from
there). It was 1980 and the North island highway was brand new. 140kph was cruisin speed in favourable conditions, but it was still a long drive.

My point is that a one hour commute for a 3 day shift is a no brainer. Just a wee bit harder for every day life.

#151 Toronto_CA on 08.11.21 at 3:58 am

@ #121 TheDood on 08.10.21 at 7:23 pm

People who take the vaccine are primarily protecting themselves. It is a nice narrative to say you protect others, but it turns out you can still give Covid to other people if you are vaccinated. Just as much as non-vaccinated in fact with Delta variants (and probably future variants to come), according to the latest news Israel and UK for a start.

An employee should take the vaccine if they are worried about their own health re Covid. Everything you’ve written applies to the flu as well as other communicable viruses/diseases. We haven’t done the same for those illnesses that you’re suggesting. If you’re that worried, stay home. Life is never without risk of death, sadly. Crossing the street has risks.

We need to learn to live with this virus. Not make taking a new, rushed vaccine mandatory to all.

Read the Nuremburg code for more reasons why forcing vaccines on people is wrong.

#152 tkid on 08.11.21 at 4:42 am

Rumour in that Reddit post has the FOMOer relocated to Thunder Bay.

#153 calgaryPhantom on 08.11.21 at 4:51 am

pile on debt and let inflation eat it away…

#154 Jane24 on 08.11.21 at 5:33 am

Garth I have great respect for you and have since your column in The Sun in the 1980s but when it comes to WFH you do indeed have a blind spot. The situation is not black and white but ‘50,000 shades of grey’. I know hundreds of working folk here in Britain and very few are going back to the office FT. Most have already agreed a hybrid work pattern with the bosses who are now gleefully selling off unwanted urban office space. Even the local and national govts are moving to permanent hybrid work patterns.

So many empty shops and office footage are hitting the market that the govt is simplifying planning rules so they can swiftly be turned into needed affordable housing. Win win. 2019 is not coming back.

#155 Howard on 08.11.21 at 5:38 am

I have a hard time believing someone moved all the way to smalltown Alberta from Toronto without a hard guarantee that WFH would be permanent. And an even harder time believing that this situation is common.

I’m thinking there’s a great deal of Toronto realtor mischief going on with these stories now circulating the web.

#156 Howard on 08.11.21 at 5:49 am

Well, my archaic, bureaucratic, multinational employer – where 99% of employees worked on site 5 days a week prior to Covid – is going full hybrid post-Covid. Generally 3 days in office, 2 days at home, but that can be modified week to week if desired by employee and approved by one’s manager (and the directors all seem pretty relaxed about the culture shift – they’re enjoying WFH as much as the lower-level staff).

#157 Under the radar on 08.11.21 at 6:01 am

I acted for people who sold city condos and bought homes within 75 minutes from Toronto. Sure, the commute can be brutal but that’s the price they are willing to pay for a detached home and a white picket fence . For many that was and still is their plan. People want their own space, the pandemic accelerated the desire.

#158 Howard on 08.11.21 at 6:05 am

#38 northshoreeng on 08.10.21 at 2:38 pm
sold condo in Toronto and went to BROOKS ALBERTA?
really?
Have any of you been to BROOKS ALBERTA?
There is no way that happened.

——————————

Agreed. Almost certainly fiction.

#159 peter pickles on 08.11.21 at 7:15 am

I wonder if this was in Peterborough. I know several buyers from Toronto that did this.

They seem to be banking on the “only 1 hour 30 minute commute” thing if they have to go back to work.

In for a rude awakening when they realize that’s 3 hours on the average day in traffic, lol. Idiots.

#160 crowdedelevatorfartz on 08.11.21 at 8:12 am

@#144 CJC
“In other news China sentenced Michael Spavor to 11 years in prison.”
+++

And if we deport the Huwei CEO to the USA…they will drag Spavor back into “Court” and sentence him to death.

“Our” Courts vs “Their” Courts ….

I wonder when our govt will grow a spine and will boycott the 2022 Beijing Winter Olympics?

#161 crowdedelevatorfartz on 08.11.21 at 8:17 am

@#137 Don
“Thank Dog…people are finally noticing his lack of crtical thinking etc.”

+++

True my “crtical” thinking is lacking.
My spelling isnt.
The love is thicker than BC smoke spreading into Alberta these days.
Take another deep breath Donnie and then go for an elevator ride.

#162 IGV on 08.11.21 at 9:27 am

From RioCan Earnings:

When it comes to office space, Gitlin said prospective tenants are currently in “discovery” mode as they explore what their post-pandemic needs and comfort levels may be, but he’s confident even those leases will pick up in time.

yeah……nice way of saying leases are not being renewed.

#163 Quintilian on 08.11.21 at 9:52 am

“If you don’t buy now you will be forever priced out”, has now become: “you are now priced in forever”.

The gains for homeowner have been for the most part imaginary/ paper gains unless they sold and cashed in.

The losses for the recent buyers are real, some of these people can’t afford to take the hit and just walk a way.
Many years of misery awaits them.

Will they have the resolve to drop off the keys at the bank on their way back to Toronto? Not likely.

Inefficient markets, and manias have consequences.

#164 DON on 08.11.21 at 9:54 am

#161 crowdedelevatorfartz on 08.11.21 at 8:17 am
@#137 Don
“Thank Dog…people are finally noticing his lack of crtical thinking etc.”

+++

True my “crtical” thinking is lacking.
My spelling isnt.
The love is thicker than BC smoke spreading into Alberta these days.
Take another deep breath Donnie and then go for an elevator ride.

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

Ummm….you do know that the reference for lack of critical thinking was meant for Chris G…not sure how you read into that or why…no coffee this am?

#165 KLNR on 08.11.21 at 10:02 am

@#151 Toronto_CA on 08.11.21 at 3:58 am
@ #121 TheDood on 08.10.21 at 7:23 pm

People who take the vaccine are primarily protecting themselves. It is a nice narrative to say you protect others, but it turns out you can still give Covid to other people if you are vaccinated. Just as much as non-vaccinated in fact with Delta variants (and probably future variants to come), according to the latest news Israel and UK for a start.

An employee should take the vaccine if they are worried about their own health re Covid. Everything you’ve written applies to the flu as well as other communicable viruses/diseases. We haven’t done the same for those illnesses that you’re suggesting. If you’re that worried, stay home. Life is never without risk of death, sadly. Crossing the street has risks.

We need to learn to live with this virus. Not make taking a new, rushed vaccine mandatory to all.

Read the Nuremburg code for more reasons why forcing vaccines on people is wrong.

herd immunity requires the vast majority get vaxxed.
the unvaxxed are petri dishes for new variants.
a vax passport is a must and will be implemented within the year. Its the right thing to do.

#166 crowdedelevatorfartz on 08.11.21 at 10:03 am

Well I hope none of you anti vaxx’ers dont have an operation scheduled in the Kelowna Hospital…

https://www.citynews1130.com/2021/08/11/kelowna-surgeries-cancelled-covid/

#167 Brett in Calgary on 08.11.21 at 10:06 am

Alberta is not done. EV’s will not save us and to that end, most of what the IPCC spews is political rhetoric.

The majority of global warming for the past 150 years (favorite time period for those ignoring geologic time) happened in the 1930’s. There hasn’t been any appreciable warming in the past 40 years (as measured by satellite) despite what the models predicted, or what the media says.

From Greenland ice cores there does appear to be a correlation between warming and CO2 (about half of the time), but warming precedes increased CO2 levels by 50-100 years, not the other way around.

Why the warming at various points in history? Various reasons. Why the lagged CO2 increase? Because the oceans hold more CO2 when they are colder and release it as they warm. Also the oceans hold 50x more CO2 per unit than the atmosphere, so when an ocean burps CO2 it makes a big difference to atmospheric CO2.

There are lots of good books on this controversial topic:
1) Hot Talk Cold Science
2) Unsettled: What Climate Science Tells Us, What it Doesn’t and Why.
3) Fake Invisible Catastrophes And Threats of Doom

#168 TeeVee on 08.11.21 at 10:12 am

#43 TheDood

That was the point of the woman’s statement – she was addressing the question of what is the economy of Vancouver today, now that all the economic contributors of the past decades are no longer the drivers of the economy.

And to that she said: ”In many ways Vancouver is a manufacturing sector. We manufacture AND export condominiums. But…they just stay here.”

Exactly as you point out. All those sectors and companies are gone. It is condo boxes in the sky.

#169 George S on 08.11.21 at 10:13 am

#79 Yes, you are stupid! on 08.10.21 at 4:35 pm wrote:
—some stuff about average and median related to intelligence—

In order to say anything about average and mean you need to look at the distribution of your sample. This is done by graphing it. What you see with intelligence is that a graph of the number of individuals on the vertical axis vs the IQ of those individuals on the horizontal axis is a perfectly symmetrical “bell curve” with 50% of individuals above or below an IQ of 100 which is set arbitrarily at the mid point of the bell curve for any population. In this case the average (or mean) is the same as the median.
If you look at a graph of number of individuals vs income you see a different looking graph with a large number of individuals with lower incomes and then a long tail going out toward the high incomes. This is an asymmetrical bell curve and the average income is way different than the median income because the small number of extremely high incomes skews the average high.

So what that means is that in the general population there are 50% of people with above average intelligence and 50% with below average intelligence because the mean is the same as the median. But, you really don’t have a way of thinking of how a person with average intelligence behaves unless you know the their IQ is exactly 100 and you have a sample of a lot of people with an exact 100 IQ because there are other things that cause behaviour patterns such as tendencies towards psychopathy or autism.

#170 DON on 08.11.21 at 10:20 am

#139 fishman on 08.10.21 at 10:53 pm
Big city- Lil town, WFH-WFO, Forests burning, Woke Dippers in political control, obscene prices, no paying jobs, drive by shootings. Don’t matter. Their going to come here by the millions. Unstoppable. We got the water. You’ll never lose investing in B.C.
**************

So are blaming governments for forest fires? Looks like the great lakes also have the water.

#171 Ponzius Pilatus on 08.11.21 at 10:31 am

#122 Ustabe
We were eating our steaks at Mr. Mikes for a time but soon enough were back at the Ranchmen’s
—————————
There were quite a few Mr. Mikes in the Lower Mainland.
Can’t find any anymore.
Good deal for a family of four.
Loved the salad bar.
I guess it was replaced by Mr. Ho.

#172 Yukon Elvis on 08.11.21 at 10:38 am

Data from a leaked internal salary calculator at Alphabet’s Google reveals that employees who decide to work from home indefinitely face pay cuts of up to 25%, according to Reuters.

#173 westcdn on 08.11.21 at 10:50 am

My favorite commercial for now – a girl runs out, Dad, Dad guess what I found – was it beneath the porch? Single guys can be worth gold. Love the guy especially his look at the end.

My daughters worry about me. I was sitting in my garage and smoking when I heard a knock on the door. There were 2 cops – what can I do for you? Your daughter wants to make sure you are alive – I have lousy cell service. She had to pull a few strings.

So I am buying down debt, people may think I am foolish. My investments are okay, still seeking…

#174 TheDood on 08.11.21 at 10:52 am

#151 Toronto_CA on 08.11.21 at 3:58 am

…If you’re that worried, stay home…..
______________________

Fortunately for me, the right decision will be made, and a vaccine passport will force the unvaccinated to stay home.

#175 Dharma Bum on 08.11.21 at 10:52 am

I’ve said it before, and I’ll say it again: Employers are finally coming to terms with the reality that working from home is the same as effing the dee!

#176 Ponzius Pilatus on 08.11.21 at 10:57 am

#164 DON on 08.11.21 at 9:54 am
#161 crowdedelevatorfartz on 08.11.21 at 8:17 am
@#137 Don
“Thank Dog…people are finally noticing his lack of crtical thinking etc.”

+++

True my “crtical” thinking is lacking.
My spelling isnt.
The love is thicker than BC smoke spreading into Alberta these days.
Take another deep breath Donnie and then go for an elevator ride.

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

Ummm….you do know that the reference for lack of critical thinking was meant for Chris G…not sure how you read into that or why…no coffee this am?
———————————-
Lack of critical thinking also implies that there must be abundance of critical thinking.
I’m a simple man.
I categorize people as either stupid or smart.
KISS.

#177 Sail Away on 08.11.21 at 11:29 am

#122 Ustabe on 08.10.21 at 7:31 pm

This “we will pay you less if you work from home” stuff sounds a lot like “you will get paid less because you will be having babies.” “You will get paid less because you have Crohn’s and will be spending excessive time in the toilet”. Etc.

——–

Naw. That’s snowflakery logic.

The full-paying job is in the office. People can choose to work from another location for lower pay.

Choices. Free will.

#178 Damifino on 08.11.21 at 12:10 pm

#171 Ponzius Pilatus

There were quite a few Mr. Mikes in the Lower Mainland. Can’t find any anymore.
——————————

There were also a few “Mr Jakes” which were practically the same thing. Apparently, there’s still one operating in Prince George.

Back in the mid seventies I’d come home from a road trip (band) on Sunday night and go there for dinner.

A decent sized piece of grilled New Zealand steak, baked potato, garlic bread and green salad could be had for a measly $2.89. According to the BOC inflation calculator, that would be $15.66 today.

The tall apple juice and lemon meringue pie I used to order cost extra, as I recall, but still.

Those were the days…

#179 Sara on 08.11.21 at 12:25 pm

#166 crowdedelevatorfartz on 08.11.21 at 10:03 am
Well I hope none of you anti vaxx’ers dont have an operation scheduled in the Kelowna Hospital…
================

So you hope all of them do?

#180 IHCTD9 on 08.11.21 at 12:29 pm

#163 Quintilian on 08.11.21 at 9:52 am
“If you don’t buy now you will be forever priced out”, has now become: “you are now priced in forever”.

The gains for homeowner have been for the most part imaginary/ paper gains unless they sold and cashed in.

The losses for the recent buyers are real, some of these people can’t afford to take the hit and just walk a way.
Many years of misery awaits them.

Will they have the resolve to drop off the keys at the bank on their way back to Toronto? Not likely.

Inefficient markets, and manias have consequences.

______

Not to mention – there is no dropping off the keys at the bank in most Provinces due to full recourse mortgages.

Those that way overpaid out in the sticks and are called back into their metro offices have a tough decision to make. The longer they wait, the worse it’s going to get as more backwater properties hit the MLS and prices sink.

The reality is, 90+% won’t find sufficient local employment, and are going to have to sell. Then they’ll have to buy back into the urban market. Buy high, sell low, buy high.

#181 Take care of the kids on 08.11.21 at 12:30 pm

Love the people who say WFH is just as or more productive and also allows people to save money by taking care of the kids.

Riiiight…..taking care of a kid or two all day wouldn’t reduce your productivity at all.

Actually, that might be true for some of these ‘workers’.

#182 Nelson Muntz on 08.11.21 at 12:37 pm

“My wife and I bought 6 months ago at the height of the housing market it seems now,”

HA-HA!

#183 Surgeries on 08.11.21 at 12:41 pm

#166 CEF

Did you ever consider the possibility that the most of the “anti-vaxxers” are young, healthy people who are not at any risk?

The single anti-vaxxer I know in real life is under 30, vegan and a fierce animal rights activist.

As I walk around my city and see pubs and restaurants full to capacity with happily unmasked youngsters, I can take a good guess as to which demographic is accounting for most of the increases in cases, which are not resulting in a commensurate increase in deaths.

I don’t think too many of them are having surgeries cancelled.

It’s not about them, but society. Strange concept, I know. But try to grasp it. – Garth

#184 Barry on 08.11.21 at 12:47 pm

to #149 Dr. V

With all due respect IMHO (well not really!) diversification is for people who haven’t a clue of what to do or how to do it. I’m definitely in the contra factual camp on this one. A lot of advice on Modern Portfolio Theory is rubbish. I hardly watch BNN – I don’t own, Gold, Bitcoin, bonds or resource stocks except for the tollgate keepers like TRP. I’m pretty much 75% in dividend growth stocks for the past thirty years and much of what I do is attributed to Tom Connolly and his Dividend Growth reports/website. I very happy with yields of over 50% on my original BNS purchase price. You’re right about their payout ratio. And for those who don’t believe in Yield on Cost they can pay my capital gains if they want. CDN bank stocks have been killer. You’re also right about having enough and hence the rest is icing on the cake. I’m nearly 69 and had a good run. Moreover, I have dividend records for BCE (and Bell Canada before that) going back to 1949. Save for the disruption around the Financial Credit crunch and the failed Ontario Teachers buyout they have never cut their dividend (going back to 1949 at least) while their payout ratio has moved up and down over the years. All companies have their moments – Telus and TRP cut their dividends over twenty years ago but if one stuck with the stock you would still be WAY ahead of the game. The other 25% is in cash … always at hand to take advantage of any crash to buy the discarded cigar butts.

#185 kommykim on 08.11.21 at 12:50 pm

RE: #151 Toronto_CA on 08.11.21 at 3:58 am
Read the Nuremburg code for more reasons why forcing vaccines on people is wrong.

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

Anyone who mentions the “Nuremburg code” while discussing COVID vaccination is a whack job and won’t be taken seriously by anyone who is not already on the crazy train.

#186 DON on 08.11.21 at 12:53 pm

@Ponzius

There is a new Mr. Mikes in Langford and Duncan..a simple burger is $20 dollars.

#187 Herd Immunity on 08.11.21 at 12:55 pm

DELETED

#188 Society vs the Individual on 08.11.21 at 1:01 pm

“It’s not about them, but society. Strange concept, I know. But try to grasp it. – Garth”

——————————-

The concept that the ‘greater good’ supercedes individual rights is responsible for more horrors and deaths than any other single idea.

You made that up, right? – Garth

#189 Government on 08.11.21 at 1:26 pm

The truth of it is most people like bothering other people. They all think they are the government. Wait until they get screwed by the same government they think is on their side. They think it always be someone else.

I don’t want to hear complaining when you all get screwed big time. The government should fix this or do this. Government sucks and always is a big waste of time and money, a big black hole.

#190 kommykim on 08.11.21 at 1:42 pm

RE: #115 WFH coming back on 08.10.21 at 6:23 pm
And anti-viral drug therapy for those sick needs to vastly improve so that there is a therapy that effectively treats those infected.

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

The problem with antivirals is that they need to be administered ASAP. I know that in the case of a shingles outbreak, if you are more than 1-2 days past the onset of symptoms, it’s too late for the antiviral.
I would guess that by the time most people have COVID symptoms severe enough to seek medical attention, it would be too late for any antiviral treatment.

#191 KLNR on 08.11.21 at 1:49 pm

@#175 Dharma Bum on 08.11.21 at 10:52 am
I’ve said it before, and I’ll say it again: Employers are finally coming to terms with the reality that working from home is the same as effing the dee!

pretty easy to track productivity.
the days of full time butts in seats at an office are over.

#192 Squire on 08.11.21 at 1:50 pm

#175 Dharma Bum on 08.11.21 at 10:52 am
I’ve said it before, and I’ll say it again: Employers are finally coming to terms with the reality that working from home is the same as effing the dee!
——————————————
Speak for yourself. I happen to work a lot of hours at home and may of my colleagues do to. There isn’t anything wrong with WFH. Fully at home can present issues but not partial. I know my productivity in the office is less because of all the needy coworkers that can’t figure things out themselves.

#193 KLNR on 08.11.21 at 1:52 pm

@#177 Sail Away on 08.11.21 at 11:29 am
#122 Ustabe on 08.10.21 at 7:31 pm

This “we will pay you less if you work from home” stuff sounds a lot like “you will get paid less because you will be having babies.” “You will get paid less because you have Crohn’s and will be spending excessive time in the toilet”. Etc.

——

The full-paying job is in the office. People can choose to work from another location for lower pay.

depends on the industry/skillset.
Good luck finding quality employees.
folks don’t want to be glued to an office setting anymore.

#194 NoName on 08.11.21 at 1:55 pm

On my native language we call Georgia – Gruzija.

Funny all this time, ever since english took over boca and wernecky area of brain, ive been rumiging through my brain to try to remember how we called Georgia. Luckily watching that sleapy dog helped, “reminded” me to use translator…

Bonus just between us in comment section, if you guys were wondering what is farts up to when is not riding elevators.

https://vm.tiktok.com/ZMemF6U5r/

#195 Michael in-north-york on 08.11.21 at 1:58 pm

#181 Take care of the kids on 08.11.21 at 12:30 pm

Love the people who say WFH is just as or more productive and also allows people to save money by taking care of the kids.

Riiiight…..taking care of a kid or two all day wouldn’t reduce your productivity at all.
===

Don’t you think that the two statements apply to two separate groups? Those who have mid-school or older kids, or no minor kids at all, can be equally or more productive while WFH.

Those who have young kids, will find it easier to care for them, and will save money on daycare. But their productivity will, in general, be lower while WFH.

#196 TheDood on 08.11.21 at 2:17 pm

#188 Society vs the Individual on 08.11.21 at 1:01 pm

The concept that the ‘greater good’ supercedes individual rights is responsible for more horrors and deaths than any other single idea.
_____________________________

Are you comparing the need for masses to vaccinate with events like fascism / communism which led to wars and genocide that killed millions? This is an extremely weak comparison as the context is in no way aligned.

There are no recent historical events that compare to the COVID-19 pandemic.

#197 Greater Good on 08.11.21 at 2:34 pm

“The concept that the ‘greater good’ supercedes individual rights is responsible for more horrors and deaths than any other single idea.

You made that up, right? – Garth”
——————————————–

You should read up on the philosophy of authoritarianism and totalitarianism.

You know the ones that are based on the idea that the ‘greater good’ is all important and it just happens to be calculated by the state.

In one well known case the state was called ‘The Fatherland’. Resulted in tens of millions of deaths.

#198 No talking allowed on 08.11.21 at 2:44 pm

Australia’s Health Officer Dr Kerry Chant: Don’t have conversations outside of your home.

Do it for ‘society’. Not authoritarian at all.

https://twitter.com/disclosetv/status/1425435129787396105?s=20

#199 Sara on 08.11.21 at 4:36 pm

#197 Greater Good on 08.11.21 at 2:34 pm
“The concept that the ‘greater good’ supercedes individual rights is responsible for more horrors and deaths than any other single idea.

You made that up, right? – Garth”
——————————————–

You should read up on the philosophy of authoritarianism and totalitarianism.

You know the ones that are based on the idea that the ‘greater good’ is all important and it just happens to be calculated by the state.

In one well known case the state was called ‘The Fatherland’. Resulted in tens of millions of deaths.
================

Perhaps you should read up on the “social contract”.

#200 crowdedelevatorfartz on 08.11.21 at 7:17 pm

@#194 NoName
“Bonus just between us in comment section, if you guys were wondering what is farts up to when is not riding elevators.”

++++

HOW did you get a tiktok video of my niece?

#201 Buford Wilson on 08.12.21 at 3:57 am

Garth, please don’t use the words gazillions or gazillionaires anymore. Use billions instead.

#202 Prince Polo on 08.12.21 at 7:43 am

The election campaign, assuming it is imminent, will take place in the shadow of an enormously important decision about government policy: the Bank of Canada’s mandate, whose five-year term is up for renewal this fall.

Probably nothing that will be discussed during the campaign will have more potential to affect Canadian lives, for good or ill. The Bank’s lax approach to inflation in the early 1970s set off a 20-year firestorm of rising prices, rising interest rates and rising government debt that was only finally extinguished at the cost of two painful recessions.

By contrast, the long period of relative price stability since the current inflation-targeting regime was implemented has provided the foundation for steady growth ever since, only briefly interrupted by the global financial crisis of the late 2000s.

The pandemic, of course, has changed everything. Massive government deficits, largely financed by the Bank, hold the potential for sharply higher inflation, if not unwound just as sharply. At the same time, some argue that, in a world of near-zero interest rates, a little more inflation might be a good thing, allowing the Bank to engineer deeper cuts in real (i.e. net of inflation) interest rates than would otherwise be the case.

So it’s critically important to get this decision right: the risks are high on either side. And yet we are unlikely to hear a word about it during the campaign.

https://www.theglobeandmail.com/opinion/article-the-key-to-canadian-economic-prosperity-that-no-ones-talking-about/

#203 Social Contract on 08.12.21 at 10:19 am

Sara, you know where I heard the word social contract before many times, Ontario’s NDP Bob Rae’s social contract with the public employees of Ontario. Guess what, they did not like at all. They hated it big time. Many people on this blog must be very young or uniformed about history. It must be them staring at their phones all day as zombies.

#204 Doug in London on 08.12.21 at 10:39 am

@Social Contract, post #203:
I remember it well. I didn’t work for the Ontario Government at that time, but if I did then I would have LOVED the Social Contract. Wow, more time off to do things I want. Just one day a month? I would have GLADLY taken more. I also remember how the government employees hated it. They must have been overjoyed, dancing on the rooftops when Mike Harris became premier. Instead of the Social Contract, he cut jobs in the government. I bet the employees loved that.

#205 fantasy can't last forever on 08.12.21 at 11:43 am

Social Contract, Doug in London does get the whole point of the word, social contract. It sucks, it does not work because the Ontario employees finally got their guy in Bob Rae NDP, they used to chant Bob Rae go away and was booted out only in 1 term.

Social contracts and socialism needs to feed on the good nature of people but as we can see, when it comes to government and it’s workers, they want only the rest of us to sacrifice while they can get their share no matter what. This only goes on until places like Venezuela, USSR, Argentina, Chile and many other failed states can’t keep printing anymore because they run out of other people’s money. Don’t worry, China will have it’s due in the future, Cuba is probably next. Another failed idea 20 years plus later, the European Union, a union of economic policy losers.

#206 Hypocrites on 08.12.21 at 1:08 pm

Social contract, greater good policies are only mentioned when it comes to Covid, vaccines, other topics, laws that the left likes.

How come it is not the greater good, social contract that make sure Canadians and business, government finances are in good order. When it comes to binging on debt and being debt junkies, the NDP, Liberals, Green Party and their companies that support reckless chronic, spending, debt, deficits with leaving the burden on mostly future generations.

What about the greater good, social contract on taking care of your own family and not making the rest of Canadians pay for other people’s children, spouses. There are so many examples of this that like everything else, lefties, liberals, NDP etc. pick and choose what they want to push their tyrannical agenda.

Just like with their economic policies with subsidies, tax credits for only the companies, businesses that they like. They pick and choose winners and losers with their bureaucratic pen.

#207 Doug in London on 08.13.21 at 1:26 pm

On the subject of the Social Contract, how some government employees reacted further reinforces the idea that high school courses should include a mandatory course, or better yet courses about economics and personal finance. The reason the NDP went with the Social Contract in the first place is that, unlike now, there was actually a limit on the government was allowed to borrow, they went over it, and had to cut somewhere. It was either cut hours or cut jobs and a lot of those government employees didn’t seem to understand that idea. It’s like the laws of thermodynamics, and how you don’t get more out of any energy using device than you put in. That’s why perpetual motion machines don’t work.