The gift

Well, it’s another episode of the GreaterFool’s First World Problems blog. Millennials making seven figures. Boomers with three boats. Windfall real estate winnings. Kids with stock options. Wrinklies lolling on foreign beaches. And, of course, the ever-brimming Bank of Mom.

At least some of these folks recognize the nature of their ‘problems.’ Like the late 30s duo in Toronto with two kids, no debt, an income of $120,000 and a portfolio of $750,000 who have the decency to call themselves, “Spoiled Couple.”

And what spoiled them?

A million bucks. As a gift. Seriously.

We have been holding off these past few years on purchasing a place as we weren’t sure where exactly we would settle. We have finally decided on the location but the price and the lack of inventory has not made it easy to purchase a home. About the $1M cash…it is a gift from our parents to purchase a home and I get the impression that they do not want it invested in the market.

For us to rent for a year or two, I fear inflation will slowly deteriorate our purchasing power with the cash. On the other hand, as a follower of your blog, I want to wait it out and see if the withdrawal of stimulus and a rate hike would impact the market.

So what would Garth do? Park money in GIC or use it to buy a home?

Where do we start, SC?

Well, this is a silly time to buy anything. Prices have moderated in the GTA since hitting a high in May, but the pandemic has just started to fade, listings will be heading north soon and it’s a slam dunk rates will be inching higher about this time next year. These days inventory is slim so even with a reduced number of buyers around, prices have held near nosebleed levels.

More important is the statement that you’re unsure of where to sink roots. If you don’t know, wait. Rent. It’s cheaper than owning – especially when you purchase where land transfer taxes are double and a big property tax hike lurks in the wings. If you might relocate in a year or two, stay tenants. The combination of stiff closing costs when buying and a fat realtor commission (plus HST) when selling means a big price appreciation is required over a short time just to break even. Those days are probably in the rear view.

Buy property or get a GIC? C’mon – that’s hardly the choice. A short-term cashable guaranteed investment certificate (one-year) currently pays 0.25%. Or you can lock in for 0.4%.  Meanwhile the inflation rate is 3.1%, so buying a GIC guarantees losing money. Besides, the princely return of $4,000 earned would be fully taxable. More fail.

It’s a recommendation – just a comparison – but nice blue chippy preferred share EFT (banks, insurers etc) currently yields 3.8%, and comes with a spiffy dividend tax credit. In fact, a balanced and diversified portfolio has returned double digits over the past year of volatility and change, and we’re just entering a protracted period of vaccinated recovery. Global growth is going up. Employment increasing. Corporate profits romping. Government spending unbridled. The risk seems less than jumping into a Canadian housing market hopped up on FOMO, hormones, WFH delusion, realtor hype and media vapours.

Finally, what about the strings?

Unless the parentals are Bezos-style gazillionaires, a million dollars is serious bank. Do the oldies never expect it to be repaid? Ever? Is there a tacit obligation to locate your Mom-bought house close to them? Is support expected from you in the years ahead? If their fortunes falter – and you’ve taken a seven-figure gift – are you not morally obligated to repay this money in substance or kind? And what happens if (gulp) your marriage fails in the years ahead, with such a heavy obligation in place?

Perchance it would it be wise, and help bolster your independence, to have the parents co-sign or guarantee a mortgage instead. And did you ensure your folks can actually afford to be so generous when you accepted the cash? Have you had a discussion about their circumstances, incomes, assets and security? Was this an advance on inheritance? What did you gift in return?

Finally, think about your family’s best choices. You can use the million to buy a Toronto house and still have a $700,000 mortgage, ten years hence. Or invest the money, add in your own and (assuming reasonable returns for a decade) and have a $3.5 million portfolio generating over $200,000 in annual returns. You could retire in your 40s, be financially independent forever, spend more time for the kids and dote on your parents.

Ha. And you thought this blog was just for deplorables.

About the picture: “Long time, mid-30s reader here,” writes Kayla.  “Your advice has – and will continue to – have a huge impact on my approach to finances, thanks. This is my old gal Jersey – rottie beagle mutt adopted at 8 months and was covered in mange. She’s now 14.5 and living her best life on our farm.”

157 comments ↓

#1 Tales from the Crypto on 08.11.21 at 2:07 pm

$1m gift?

That’s not even 20 bitcoins that the parent got for $0.08 back in 2010.

#2 sss on 08.11.21 at 2:09 pm

People are gullible. Period. By the end of next year, let’s see how views on vaccine change, that would include you as well.

#3 Divv on 08.11.21 at 2:14 pm

“We have finally decided on the location”… ***within 500 metres of donor***

#4 Brian on 08.11.21 at 2:20 pm

DELETED

#5 TurnerNation on 08.11.21 at 2:24 pm

On the Economic Shutdowns. Unlimited power guess what happens next? Blog dogs flagged the War on Small Business, last year.

.Some Montreal bar-owners say COVID-19 vaccine passport ‘will hurt us more'(montrealgazette.com)

.Lack of details on Quebec’s new vaccine passport creates uncertainty for travellers from other provinces (montreal.ctvnews.ca)

.Israel, who have one the best vaccination rates and domestic vaccine passports required by law, has just been added to the CDCs list for highest-risk countries for catching Covid-19 (independent.co.uk) (independent.co.uk)


— 7 more days! To keep you Safe.

.Melbourne lockdown extended for 7 days after 20 new Covid cases (heraldsun.com.au)

.New Zealand: Covid-19: Expect ‘swift and severe’ level 4 lockdown if Delta emerges.

.In effort to combat COVID surge in Hawaii, Gov. Ige reinstates restrictions on gatherings (hawaiinewsnow.com)

.Covid in Sydney: Communities feel under siege as troops deployed (bbc.com)


— When I say the Children are the focus of this New System here’s some proof.

https://www.medrxiv.org/content/10.1101/2021.08.10.21261846v1
Aug 11 -Impact of the COVID-19 Pandemic on Early Child Cognitive Development: Initial Findings in a Longitudinal Observational Study of Child Healt
We find that children born during the pandemic have significantly reduced verbal, motor, and overall cognitive performance compared to children born pre-pandemic

#6 Ponzius Pilatus on 08.11.21 at 2:28 pm

“Who wants to be a Millionaire?” used to be a big deal.
Now it’s chump change.

#7 Ustabe on 08.11.21 at 2:30 pm

A gift with strings attached is no gift at all. A gift, once given, should no longer be your concern.

Some years back my wife’s brother in law and her sister required a touch of financial help. We were able to help and did so…they are doing so much better since yet I have to remind him that it was a gift, not a loan, every time he tries to repay us.

Either give a gift or enter into a contract with terms and conditions.

#8 Niagara Region on 08.11.21 at 2:35 pm

I’m wet behind the ears. Garth often sings the praises of ETFs. How does one invest in ETFs? Would I have to manage it myself somehow?

#9 Jane24 on 08.11.21 at 2:35 pm

Be very very careful of those STRINGS. There are always strings in such gifts. May not be visible now but they will come and yes what if your marriage breaks up. The spouse without the wealthy parents will end up with half of the one million. How will your parents feel about this?

The parents should cover their interest by legally making the one million a loan and not a gift with a lieu on the house. If the marriage breaks up then they can claim the one million back before the warring couple go halves on everything else.

#10 Ponzius Pilatus on 08.11.21 at 2:40 pm

#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.
—————————
Haha
I might be simple, but not stupid to pay 20 for a simple burger.
But I know a few people who lack critical thinking skills, who would gladly pay the twenty because it’s a “Steakhouse” now.
And where’s the salad bar?

#11 erik mtl on 08.11.21 at 2:43 pm

What will the world look like for the millennials in 35+ years?
https://www.ipcc.ch/report/ar6/wg1/downloads/report/IPCC_AR6_WGI_Headline_Statements.pdf

I wonder if a seven figure 60-40 liquid etf portfolio will be as attractive a goal to have by then..

”Stock market has only gone up throughout all of history!”

.. a 400 year history, if that. Either way, roaring twenties, here we go!

#12 Brunett43 on 08.11.21 at 3:00 pm

I remember a couple of years ago, my youngest son asked me for a loan for a down payment on a house. I have the money to give, but I said no. He now works out of town 5/7 days, and it would have been a real waste.

A million is serious cash. There’s no lesson in lending your kids that kind of money, other than they cannot survive on their own instincts because they always have a safety net to catch them. Real life doesn’t work like that.

No bank of Mom here.

#13 Sail Away on 08.11.21 at 3:04 pm

We will happily gift our (currently early 20s) kids $ for a house if it makes sense in ten years or so when they’re ready to settle. In the interim, though, they have a lot of financial management practice to prove their money-handling chops.

Membership in the Sail Away dynasty carries amazing entitlements, yes… but also responsibility.

#14 Million dollar babies on 08.11.21 at 3:04 pm

What did you gift in return?

________________________________

They probably took a bottle of wine when they went to their parents for a Mom/(Mom-in-law) cooked meal …. but seriously though, who would want the $1M held over their heads for time eternal. Any success you have in life will be in the context of this gift.

I’ve never said this before … and probably will never again … but heed Garth’s advice, especially the part about independence.

It’s one thing for parents to help; quite another to do this much. Isn’t this a perfect example of how the boomer generation is “screwing up” their offspring. Just remember the old saying “Give a man an endless supply of fish and he’ll never need to learn how to fish!” Maybe it’s just me but isn’t there some gratification in striving/working for things in life on your own terms, in your own way on your own schedule! The joys of life aren’t just about the destination; what about your journey?

Or perhaps that’s just last millennium talk.

#15 I’m stupid on 08.11.21 at 3:07 pm

Garth why are you wasting you breath on the million dollar babies? I know these types they’re cowards and quitters.

My brother is coaching his son’s baseball team in the 905. He was angry one day after the game. His team was losing 15-1 and they were given the option to finish the bottom of the inning, even though the were fielding and couldn’t win, he wanted the kids to play for practice and experience. The parents of the other kids on the team wanted to quit so they called the game.

I looked at him and said this… you’re not like them. You earned everything you have, you’ve never quit anything in your life. These people were handed everything so when the going gets tough the quit.

When I was going to marry my wife my in-laws offered to pay for the wedding. $150k, I said no thank you, they could afford to pay it but I’m not a taker. I married my wife for love not money. She came with a job and a 15k car debt to her parents, the first thing I did was give her parents the 15k. I had to force them to take the money. There is something about standing on your own two feet that can’t be bought, taught or given.

My in-laws paid for both my sister in law’s weddings. Maybe I’m stupid for not taking the money but I’m definitely the favourite. My father in law has become my best friend.

#16 Nonplused on 08.11.21 at 3:07 pm

#145 DON on 08.10.21 at 11:38 pm

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.

—————————————–

How many of those do you think there are? Other than folks renting out their basement that is. I am sure a lot of people who rent out their basement don’t declare the income. But in the case of a dedicated rental property where the landlord is deducting mortgage, property taxes, maintenance, etc., I don’t think they are failing to declare the income.

Anything multi-unit ran as a business, I doubt too many of them are failing to report income. RevCan can be nasty about such things.

If there are landlords who fail to report income, they should be dealt with accordingly, but it has no bearing on the folks who aren’t paying their rent. Two totally different and distinct issues.

Two wrongs don’t make a right.

#17 Speed Weasel on 08.11.21 at 3:13 pm

If you have that kind of cash to play with, why would you live in crime-ridden, traffic-choked Toronto of all places?

For a similar budget you could buy a real chateau and live off the saved $750K:

https://torontolife.com/real-estate/a-torontonian-thought-about-purchasing-a-property-in-cottage-country-instead-she-bought-a-1-2-million-chateau-in-france/

P.S. Leafs Suck!

#18 Duffy on 08.11.21 at 3:15 pm

Garth’s right, dividends and compound interest are more rewarding than owning a home for now. There’s a reason logic and common sense don’t need to wear makeup.

#19 JSS on 08.11.21 at 3:18 pm

Man, I feel so poor when I read about all these people with $1M gifts and $160K salaries.

#20 Honest Realtor on 08.11.21 at 3:22 pm

One missing element here, Garth:

With the return to urban centres and the upcoming massive influx of immigrants (partly to help with Canada’s new debt gorilla, of course), the increased value of real estate in areas like the GTA will likely be spectacular in the next two decades.

The price tripling in the 416 that we’ve seen since 2008 (when some thought this was a bubble about to burst) is a good indicator of where we are likely heading between now and 2035.

So the returns on RE investment now will probably look very good compared to any other type of investment in those years ahead.

RE may actually be the best part of a balanced portfolio for most in the next few decades.

#21 Ken on 08.11.21 at 3:24 pm

Sounds like the money came with the stipulation of buying a house. What a ‘problem’ to have!

#22 Nonplused on 08.11.21 at 3:30 pm

“Spoiled Couple” faces an interesting dilemma. I don’t know about their family, but in my family gifts of even a much more modest size do not come without strings.

I do it myself. I saved the RESP money for my kids, but they weren’t gonna get any of it if they didn’t go to school. The government would claw back their contribution too, so even they don’t give the money away without strings (unless it is a Trudeau conceived program like CERB). So no school? Fine. The government will take back their money and I will take back mine. You get nothing. Evil dad.

So “Spoiled Couple” has to carefully read the fine print in the agreement, even if the agreement was verbal. If the money was given with the understanding was it would be used to buy a house in a certain location, it can be used for no other purpose. It should be returned if this is not the honest intent that “Spoiled Couple” has. Parking it in a GIC in the interim is probably ok, but using it for any other reason would be a breach of contract and a breach of faith. Not a good strategy if there is anything else there left in the will.

On the other hand if the money was “no strings attached”, then I suppose they can spend it as they see fit. Invest, vacation, buy a boat, new cars, whatever. However I have rarely seen parents part with money on such terms.

There is perhaps no greater disappointment with money than when you spend it expecting something in return, and then don’t receive it.

#23 PastThePeak on 08.11.21 at 3:30 pm

More a response to yesterday’s blog…unfortunately Covid is not yet done with the world (Canada included). The vaccination effort by Canadian citizens has been great, and will result in significant reduction in hospitalizations and deaths in the coming months compared with past waves.

Unfortunately, new data is emerging which shows:
– Delta strain is significantly more contagious
– Viral load in those infected is higher (virus enters cells / replicates more quickly)
– The vaccinated are not immune to getting it, have similar viral loads as the un-vaxxed, and are also contagious when they are infected
– Vaccination effectiveness is showing a reduction over time in early vaccinated groups from Israel and UK.

The good news:
– Vaccines do reduce infections for Delta (40-60%), and dramatically reduce hospitalizations and death
– Delta is so contagious (approaching chicken pox levels say CDC in some reports) that a much larger number will be infected than reported, leading to a much faster level of natural immunity.
– Natural immunity appears to be longer lasting / better than vaccinations
– New vaccines and booster shots are on the way for those that want them.

Definitely not something we should lock down for…but I have long since given up hope for any logical action by our politicians…

#24 Don Guillermo on 08.11.21 at 3:39 pm

#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
***********************************
Had a good friend back in the Trail days named Antonin “Tony” Mikes (pronounce Mikesh). He was a Czechoslovakian refuge. One day he took a photo of himself standing in front of Mr. Mikes restaurant and sent it back to his family to let them know he was doing well. He was a great character. Sadly he recently passed.

#25 JSquared on 08.11.21 at 3:41 pm

Wow, first world problems indeed. All great questions you pose though Garth. I doubt a gift that significant doesn’t come with at least some strings attached. A guy I work with married into a rich family. “Lucky guy” everyone thought…only daughter in the family, typical princess. Father in law happily helped them with huge wedding & purchase of a home way out of his league. Fast forward a few years later…two babies, a high maintenance wife who refuses to work, and in-laws who have an opinion about everything & refuse to mind their own business. I doubt he anticipated they were going to insist on being included in every special occasion, and family vacation, prior to the wedding. Yup, no escape, he realizes he’s trapped. The misery on this guy’s face everyday says it all. “Poor guy” is what everyone says now.

#26 Nonplused on 08.11.21 at 3:44 pm

#8 JSS on 08.11.21 at 3:18 pm
Man, I feel so poor when I read about all these people with $1M gifts and $160K salaries.

———————————–

There was probably a lot of hard work, risk taking, and some luck that went into that. My dad, for instance, did ok. He and mom live well. But I remember what went into it. Most people don’t have the inclination for that sort of hard work and risk taking.

In the modern era, $100k a year is easy-peasy. But you have to learn to code. A lot of people can’t stand it. A lot of people who can stand it can’t understand it.

#27 SunShowers on 08.11.21 at 3:58 pm

Hey Garth,

Remember how you would say that Canada’s large home ownership rate is an aberration, and mostly everyone in merry old Europe rents and is happy about it?

https://www.ft.com/content/ad96da11-d012-440a-b1d9-05718aac47a5

“Jonas is involved in a radical campaign urging Berlin’s city government to expropriate 240,000 properties from Germany’s biggest publicly listed residential landlords, accusing them of squeezing out lower income, long-term residents through shoddy maintenance and jacked-up rents.

After collecting more than 350,000 petition signatures, their proposal — which targets corporate landlords with more than 3,000 apartments each — will be voted on in a local referendum in September. Polling suggests nearly half of Berliners support expropriation, which would force the companies to sell their properties to the city government at a “fair” price.”

#28 crowdedelevatorfartz on 08.11.21 at 4:01 pm

Yep.
$1 million dollar “gifts” from parents invariably come with strings attached.
Not that I have had the opportunity to experience the tugging of the marionette strings.

#29 Calgary Rip Off on 08.11.21 at 4:09 pm

@#23 past the peak.

Nice post. Problem is that despite all these descriptions in mainstream medicine, and despite tons of Harvard Grand Rounds, mainstream medicine still doesnt have a definitive protocol for covid management.

According to CDC data, vaccinated have 0.0001% or thereabouts risk of death and hospitalization from variants. Is there a risk from vaccines? Yes. Should vaccines be a personal choice? Yes. The reality is that there is no answer to covid. If you get it you can die. However that risk is low for most people. Problem is, medical authorities dont know for sure who and why they will die. And even with vaccines, 5/100 will die. That is the reality. So best not worry about it.

And variants? http://www.nextstrain.org thousands and thousands of variants. Again, dont worry about it.

I have followed Covid 19 since 12/23/2019 when I sat on my couch and said to my wife, “I think influenza will be bad next year”, then read about a new virus in China. I warned my managers and coworkers at the Calgary hospital where I work. “It is just the flu” I was told by doctors and I was laughed at. I said no, I dont think so.

So I researched what they were doing in China: https://journals.sagepub.com/doi/full/10.1177/2164956120934768

In above, Dr. Richard Z. Cheng MD shows how patients were treated successfully with Vitamin C and D3, high dose.

So guess what? You too can go get vaccinated, wear a mask and go buy vitamin C and D3 and take them. 500 mg-2 grams vitamin C daily and 5000-10000 iu D3 daily should keep ANY variant from causing mortality. Why the media is not recommending this is due to liability. Doctors are afraid as vitamins do not always act as medicines and they are afraid of losing their licenses and/or peer ridicule. Guess what? You dont need a doctors prescription for the above.

It it time to stop the fear propaganda. If a third shot comes out, I am getting that as well as the vitamins. The ongoing agenda is cognitive dissonance at all levels and continued weirdness. Best not to worry about any of this with the continue focus on the “Delta”, or “Alpha” or new “Lambda” variants. There will be more vaccines and more vitamins. Yesterday at Costco I saw shelves and shelves of vitamin D3 and C available. These vitamins are benign for the most part. Plenty of writings by Dr. Richard Z Cheng MD on Covid 19 management. Stop listening to the panic driven fear media. Some of what they say is credible. Given that I work in a hospital, much of it is total nonsense. Im continually amazed at how afraid the general public is. Be vigilant, not afraid.
https://clinicaltrials.gov/ct2/show/NCT04264533

#30 Bob in Hamilton on 08.11.21 at 4:10 pm

“A million bucks. As a gift. Seriously.”

Lucky kids and fortunate.

Everyone should be so blessed with such parents.

#31 Gift on 08.11.21 at 4:12 pm

Take the $1 million and be a slave to your spouse and inlaws. Never get married. If you have to get married, get a prenup just in case you become wealthy. Otherwise you are a pig just waiting to be slaughtered.

#32 DON on 08.11.21 at 4:16 pm

#16 Nonplused on 08.11.21 at 3:07 pm
#145 DON on 08.10.21 at 11:38 pm

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.

—————————————–

How many of those do you think there are? Other than folks renting out their basement that is. I am sure a lot of people who rent out their basement don’t declare the income. But in the case of a dedicated rental property where the landlord is deducting mortgage, property taxes, maintenance, etc., I don’t think they are failing to declare the income.

Anything multi-unit ran as a business, I doubt too many of them are failing to report income. RevCan can be nasty about such things.

If there are landlords who fail to report income, they should be dealt with accordingly, but it has no bearing on the folks who aren’t paying their rent. Two totally different and distinct issues.

Two wrongs don’t make a right.
***********

Not sure about your neck of the woods but from personal experience and knowledge and with all nee houses coming with additional suites for mortgage helpers I would say there are a lot of basement suites in the Lower Mainland and Greater Victoria area. They only started building new rental complexes ovet the last few years as the vacancy rate was low.

The BC Municipalities have been busy hiring bylaw officers so maybe more news on the subject.

Of course two wrongs don’t make a right.
.why the assumption?

#33 When Will They Raise Rates? on 08.11.21 at 4:20 pm

https://www.zerohedge.com/personal-finance/one-redditors-tale-regret-exposes-homebuyers-suddenly-paying-price-fomo

Could have sworn I read about that somewhere else yesterday….

#34 Sail Away on 08.11.21 at 4:23 pm

Well, here it is one month away from grouse season in the Chilcotin. Can’t wait to erect the tipi and get into ‘camp mode’. Dogs will be euphoric. The wife and her friends will do lots of horsing around, 84yo FIL gets his rocking chair overlooking the canyon and river, lots of big unsuspecting lake rainbows gorging on freshwater shrimps think they’re safe, lots of friends in and out, endless crib and poker, and maybe the odd drink here and there.

Very dry, though. A couple of good rains would be welcome… and would flush out the giant western puffballs which are always a delicacy. We sponsor an ongoing university research project that monitors upland birds, and apparently the June grouse hatch survival was epic this year with the dry weather.

This might be the last internet-free camp since Starlink is right on the cusp of activation there.

$22k for 10 acres in the middle of Crown land, 15 years ago- a postage stamp square 200m a side in the middle of gigantic vastness with a bubbling spring. Probably the best $22k ever spent…

#35 Dolce Vita on 08.11.21 at 4:24 pm

Travel Tip:

Don’t travel to Italia this week. Lucifer does not forgive (meteo.it are such Drama Queens):

https://i.imgur.com/Qewc9KD.png

An anticyclone – nicknamed Lucifer – moving up from Africa (Lucifero).

Siracusa, Sicilia today (a European record*):

48.8 °C

Mercifully, it will only be 35-36 °C where I live for the next few days.

Bring it on.

16,000 Btu/h A/C in the living room, 11,000 Btu/h A/C in the bedroom (whisper quiet actually works, viva DeLonghi) and lava everywhere else.

Not Sunny Italy for nothing.

* https://www.bbc.com/news/world-europe-58130893#:~:text=The%20Italian%20island%20of%20Sicily,)%2C%20near%20Syracuse%20on%20Wednesday

———-

PS:

Image from Siracusa today…only 1 Italian in the photo and he is not a woman:

https://i.imgur.com/sT7bt3F.png

Milquetoast turisti.

#36 Mr Work At Home on 08.11.21 at 4:28 pm

Noticed this on twitter, gotta say ouch

“Google rolls out ‘pay calculator’ explaining work-from-home salary cuts ”

https://nypost.com/2021/08/10/google-slashing-pay-for-work-from-home-employees-by-up-to-25/?utm_campaign=SocialFlow&utm_medium=SocialFlow&utm_source=NYPTwitter

#37 TurnerNation on 08.11.21 at 4:29 pm

Hey what happened to the ‘murder hornets’? Just another scare tactic applied on us in 2020.

— For Dolce live #s:

https://covid-19.ontario.ca/data/hospitalizations
In ICU due to COVID-19
Unvaccinated 0
Partially vaccinated 7
Fully vaccinated 5


— New Zealand – an isolated test bed island. The future is here.
More tracking/control over movement. Isolation Camps. You get the idea. For another 3-5 years they say!!
What have I been telling you for months? 2022-23, likely 2025 – as travel slowly will be eliminated. Were were trained on this, your travel is “non essential”. Marketing it under a new name, even.

https://www.rnz.co.nz/news/national/448912/vaccine-rollout-key-to-reducing-miq-for-new-zealanders-expert-group
They warned the pandemic is far from over and the outcome in three to five years’ time is unknown.
The group now said a reduced time – five to seven days – in a managed isolation facility “would seem more realistic”.

It recommended the Government mandates the use of QR codes in some places to increase the “abysmal” use of the tracer app.
The advisory group also suggested the government should come up with a new name for ‘elimination strategy’.
They recommended choosing a name in te reo Māori “to reflect the unique approach of Aotearoa New Zealand to this pandemic virus”.

— From the Killing Us Softly Dept. The War of Drugs is not meant to be won.

https://thestarphoenix.com/news/local-news/alberta-drug-deaths-continue-to-rise-as-more-users-turn-to-lethal-carfentanil/wcm/e862982d-b85c-4ea6-a0e0-8d8f23d88c96
Alberta drug deaths continue to climb as more users turn to lethal carfentanil
In the first five months of 2021, overdoses claimed 624 people, an increase of 41 per cent over the same time last year

#38 Sara on 08.11.21 at 4:31 pm

#23 PastThePeak
“Definitely not something we should lock down for…but I have long since given up hope for any logical action by our politicians… ”

Vaccine passports for specific non-essential services will prevent the necessity of lockdowns and keep businesses open.

#39 Canadian Soldier on 08.11.21 at 4:34 pm

Excellent post as always Sir. I know its off topic, i was just wondering if you’ve had a chance to review your position on Bitcoin? I feel like there’s a financial revolution underway. I learn a lot about money from 3 men; Elon Musk, Michael Saylor, and Garth Turner. Elon and Mike get it, please give bitcoin 10 hours of your time Sir.

“The problem is monetary expansion everywhere. The people are going to lose half their wealth in a decade. The Solution is Bitcoin”

“Imagine a world where everyone used something fair and equitable to settle their economic differences”

“The destiny of money is to be encrypted”

“Bitcoin is the dominant digital monetary network. The next billion members will pay trillions to join, you might want to join first”

“Bitcoin is an ark of encrypted energy to escape the currency flood”

“The majic of bitcoin isn’t the transfer of money to someone 10,000 miles away – it is the transfer of money to someone 10,000 days away”

“Bitcoin is money, everything else is credit”

#40 alexinvestor on 08.11.21 at 4:36 pm

If someone has a chance to buy a house in a neighborhood in TO that they want to live in, they should really consider it. Sure owning may be more expensive than renting, but relocating is rather painful. I’ve rented and owned, and there’s a very large difference between how I treated places I rented and places I owned. Ownership does have a very different feel to it which goes beyond just counting loonies.

#41 truefacts on 08.11.21 at 4:46 pm

$1M!

What do others think of giving/loaning say $100K to help the kids get started buying a house???

Not asking for house vs investments, pros/cons, just the general idea of giving or formally loaning $100k for kids to get started???

Anyone’s thoughts/experience appreciated.

#42 cramar on 08.11.21 at 4:52 pm

What will this couple do? It would be interesting to find out a year from now! Follow Garth’s advice, or succumb to the dark side of housing lust? That decision will determine the future of the rest of their lives, and likely their two kids.

Garth talked about the potential consequences for the parents. Let’s consider the kids.

If they buy that house, the kids will learn that this is the way normal people handle their finances. They will grow up doing likewise because that’s what they were taught.

If they invest wisely (since neophytes, haul the million over to Garth’s Co.), the kids will grow up seeing and knowing their parents are multi-millionaires and see how to handle money successfully. They will see their parents retire (if they want) in their 40s, relocate and buy cheaper housing for cash in small-town Ontario. They will see their parents as successful and they will do likewise. The kids will end up a financial success just like their parents, instead of becoming like everyone else, struggling financially.

Which will it be Millennials? Do it for the kids.

#43 crowdedelevatorfartz on 08.11.21 at 4:54 pm

@#34 Sail Away

Nice.
I went river rafting from Chilco Lake down to the Big Bar on the Fraser.
6 days.
Best light show was at night camped along the Chilcotin River.
Mid August about 30 years ago.
The Perseids Meteor showers were battling it out with the Northern Lights.
Amazing.
Lotsa tiny cactus in the scrub brush as I recall.

#44 Francesca on 08.11.21 at 4:54 pm

I hope things get worse because alot of people have to learn their lesson. Life is not fair remember that one.

#45 midnights on 08.11.21 at 4:57 pm

Did you plagiarize Garth, lol?

https://www.zerohedge.com/personal-finance/one-redditors-tale-regret-exposes-homebuyers-suddenly-paying-price-fomo

Other way ‘round, apparently. – Garth

#46 Ponzius Pilatus on 08.11.21 at 5:06 pm

Yesterday, the title was “Schadenfreude”.
The pleasure derived from someones misfortune.
Today it’s “The Gift”.
Which is “poison” in German.
Get the drift:
Stay away from overpriced RE.

#47 When Will They Raise Rates? on 08.11.21 at 5:10 pm

More int’ll COVID flights in first week of August than entire month of May

Transportation and Health ministers duck questions on why current measures aren’t halting steep rise in infected travellers

Between Aug. 1-7, 137 international flights landed carrying passengers who tested positive for COVID-19. Canada recorded 130 such flights in the entire month of May.

https://torontosun.com/news/national/canada-saw-137-covid-inflected-flights-in-first-week-of-august

So let me get this straight… They are bringing hundreds of planes full of covid infected people from abroad (137 flights last week alone), but they want to lock down unvaccinated Canadians?

If they can’t even keep covid coming in from abroad with the strict measures they have in place, how are domestic vaccine passports going to stop the spread?

#48 Out of Here on 08.11.21 at 5:12 pm

It is not going to work. Lockdowns, vaccine passports, vaccine certificates, what ever else they do. As a small business owner I am glad I am 60 years old and will retire, close shop this year. I never reinvested too much in the business, at most 2% of net revenue.

I piled up a bunch of my profits in my investments mostly in TFSA’s, GIC’s, term deposits, OSB’s, credit union shares, domestic and foreign government bonds, savings accounts, my modest house. My lifestyle is debt free and low maintenance and I am done with all this BS of government regs, covid. I am good for the next 35 years at least.

My prediction is minimum 30% small business will close this year and another 15% will close next year. When things get worse people will be too afraid and stay away even after vaccination.

#49 Ponzius Pilatus on 08.11.21 at 5:15 pm

#42 CEF

This year’s episodes of “Alone” on the History Channel is filmed on Chilco Lake.
Awesome scenery.
Bucket list item.

#50 Ray Skunk on 08.11.21 at 5:15 pm

Well, better for the parents to gift that $1m now, otherwise they’re holding out for the inevitable inheritance tax that’ll be needed to pay for votes this election.

There is no inheritance in Canada, nor is there one coming. – Garth

#51 NSNG on 08.11.21 at 5:20 pm

COVID Cases Fell 40% in the UK After Restrictions Were Lifted, Proving the Experts Wrong Yet Again

Three weeks after ‘Freedom Day,’ COVID cases in the United Kingdom continue to fall.

https://fee.org/articles/covid-cases-fell-40-in-uk-after-restrictions-lifted-proving-the-experts-wrong-yet-again/

and they don’t know why….

Sure they do. Vaccinations. – Garth

#52 When Will They Raise Rates? on 08.11.21 at 5:22 pm

#44 midnights on 08.11.21 at 4:57 pm

Did you plagiarize Garth, lol?

https://www.zerohedge.com/personal-finance/one-redditors-tale-regret-exposes-homebuyers-suddenly-paying-price-fomo

—————-

Nope, Garth had it first… Steve Saretsky then sent it to Wolf Richter who did a piece on it last night, then zerohedge picked it up today.

Would have been cool if zerohedge had republished Garth’s instead – I thought Garth did a better job, no offence to Wolf Richter.

#53 Chalkie on 08.11.21 at 5:26 pm

Lesson learned parents.
Big gifts to your kids are only appreciated for the moment, tomorrow is a given to them that more handouts are coming, break the mommy tradition and the next time they hint or ask for a loan or money, look at the colour of the toe of your boot as they whimper through the door- trust me, their expectations go away.

#54 Sail Away on 08.11.21 at 5:28 pm

#42 crowdedelevatorfartz on 08.11.21 at 4:54 pm
@#34 Sail Away

Nice.
I went river rafting from Chilco Lake down to the Big Bar on the Fraser.
6 days.
Best light show was at night camped along the Chilcotin River.
Mid August about 30 years ago.
The Perseids Meteor showers were battling it out with the Northern Lights.
Amazing.
Lotsa tiny cactus in the scrub brush as I recall.

——-

Yes, lots of cactus at the canyon bottom. We mostly hunt the top plateau and avoid the open south-facing slopes. Interestingly, many grouse have spines embedded in their leathery feet, often all the way through.

Camp is on the upper slope above the plateau overlooking… basically the entire world.

Luckily most grizzlies stay up near Chilko, although the odd one wanders down our way. Some amazing bird migrations in September- always the enormous flocks of sandhill cranes cackling and circling thousands of feet up, and sometimes gatherings of hundreds of ethereally iridescent bluebirds.

#55 Loonie Doctor on 08.11.21 at 5:54 pm

I am not sure that million dollar gifts are the way to parent. I do realize that if you want your kids to live near you in a high-cost-of-living-area, then this may actually be a way to enable that for you and them. Outside that, people get more pleasure from spending money they have earned than money they were simply gifted. That is what I told one of my kids recently. I told them that our money would likely go to charity when we die so they need to take advantage of the support we are providing for them to train and work to support themselves. The response was, “why give it to people we don’t know when we love them”. My response was that we would do that because we do love them. If we didn’t, then we’d deprive them of the pleasure of enjoying the spoils of their own work. I pointed them to certain trust-fund babies to illustrate just how wrong things could go.
-LD

#56 JP on 08.11.21 at 6:01 pm

Garth’s blog post today reminds me of an old Warren Buffett quote.

“Leave the children enough so that they can do anything, but not enough that they can do nothing.”

Oh, and Felix, dogs are awesome:
https://edition.cnn.com/travel/article/italy-life-guard-dog-intl-scli/index.html

#57 Sheesh on 08.11.21 at 6:02 pm

Wait there, TurnerNation, don’t wet your panties just yet.
From your link:

Vaccination status data
Hospitalizations

This is a new data collection and the data quality will continue to improve as hospitals continue to submit data.

Data on patients in ICU are being collected from two different data sources with different extraction times and public reporting cycles. The existing data source (Critical Care Information System, CCIS) does not have vaccination status.

Gotta wait for some quality data

#58 Guy in Calgary on 08.11.21 at 6:04 pm

Too early in life to give that kind of gift. They will have no incentive to do anything for themselves and experience no kind of gratification for earning anything on their own.

I actually feel bad for them.

#59 Sara on 08.11.21 at 6:06 pm

“Membership in the Sail Away dynasty carries amazing entitlements, yes… but also responsibility.”

And amazing arrogance.

#60 Guy in Calgary on 08.11.21 at 6:15 pm

40 truefacts on 08.11.21 at 4:46 pm
$1M!

What do others think of giving/loaning say $100K to help the kids get started buying a house???

Not asking for house vs investments, pros/cons, just the general idea of giving or formally loaning $100k for kids to get started???

Anyone’s thoughts/experience appreciated.

—————————————————-

Depends on the kids.

#61 Planetgoofy on 08.11.21 at 6:17 pm

#6 Ponzius Pilatus on 08.11.21 at 2:28 pm
“Who wants to be a Millionaire?” used to be a big deal.
Now it’s chump change.
————————————
$10mil is the new benchmark….hard for Joe 6 pack to keep up.

#62 Ustabe on 08.11.21 at 6:20 pm

#58 Sara on 08.11.21 at 6:06 pm

“Membership in the Sail Away dynasty carries amazing entitlements, yes… but also responsibility.”

And amazing arrogance.

Lifestyles of the Rich and Famous blog banned him and Garth tolerates him.

#63 Wrk.dover on 08.11.21 at 6:36 pm

There is no inheritance in Canada, nor is there one coming. – Garth
____________________________

Something or other like an 8% estate tax in Ontario on numbers above the chump level.

Although $80,000 doesn’t seem to mean much to anyone in that province.

The million dollar bribe to live there is child abuse!

#64 crowdedelevatorfartz on 08.11.21 at 6:43 pm

@#54 Sail away

“Yes, lots of cactus at the canyon bottom. We mostly hunt the top plateau and avoid the open south-facing slopes. ‘

+++

Sounds amazing.
We would raft/float downriver until about 1pm then set up camp, gather firewood and go hiking.
Up the slopes to get a better view.
There were a few ranches along the river with irrigation set up for hay and a few Reserves.
The salmon was running and we’d drifted past natives with dip nets hauling out fish by the barrel load.
Great trip.
Nice country.
Ever go up in winter?

#65 NOSTRADAMUS on 08.11.21 at 6:47 pm

GORILLA GLUED THEIR HEADS.
Speculators to the left, speculators to the right, all making breath taking breakaways. Or are they perhaps, much like children enjoying a brief few years of innocence. It doesn’t take the insight of YODA to read between the lines. If the economy is so wonderful, why are interest rates in the ditch? So many have Gorilla glued their heads to the crazy idea these are normal times. I am not about to say sorry. I am not about to accept any excuses for the failure to prepare. I’m not trying to be difficult, but I can’t help cutting against the grain on topics like debt, rampant speculation, surviving the bad times when my experience runs counter to today’s accepted pearls of wisdom. All and all, as far as the markets and the economy are concerned “things couldn’t be better.” If that’s the case, I guess it’s time to sell. Isn’t that the name of the game? Buy low sell high, or you can stay the course and ride the bull forever. Once again, beware the Ides Of November. I am on my throne and I will not step down.

#66 WTF on 08.11.21 at 6:50 pm

#54 loonie Dr.

Agreed. Have seen Many instances of people gifted sums of $ without putting in the effort to earn it. Usually gone on something frivolous….quickly. Or the kids waiting for mom and dad to croak.

Knew one guy. He got a 40 k stipend Jan 1 every year commencing in the 1970s. By the 80’s Jan 1 he had to pay back loans. His alcohol and cocaine habit became too expensive apparently.

His mom was very wealthy. Only child. unfortunately for him he died before she did

#67 crowdedelevatorfartz on 08.11.21 at 6:50 pm

@#49 Ponzie
“This year’s episodes of “Alone” on the History Channel is filmed on Chilco Lake.
Awesome scenery.”

++++

Its pretty amazing up there.
I booked the raft trip with Hyak Rafting in Aug of ’97.
They had the best safety record back then.

We took a 20 seat chartered plane from the Vancouver south Terminal.
Landed about 2 hours later on the north end of Chilko Lake.at the Lodge ( Impressive Lodge).
Rafted two days down the Chilko, then 2 days down the Chilcotin, then 2 days on the Fraser.
Almost no one else on the river.
Arrived at a way station on the Big Bar Ranch and a small bus took us to Lytton.
We caught a tiny BC Rail day car train back to Lower Lonsdale in North Van and a Limo drove me right to my door in Burnaby.
All that with food and booze included for $2200.

i think its about 44-5 grand now.
Well worth it but with the forest fires almost every summer now…..who knows.

#68 kommykim on 08.11.21 at 7:02 pm

RE: #37 TurnerNation on 08.11.21 at 4:29 pm
https://covid-19.ontario.ca/data/hospitalizations
In ICU due to COVID-19
Unvaccinated 0
Partially vaccinated 7
Fully vaccinated 5

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

The reason there are no longer any unvaccinated in the ICU is because they’ve all been transferred to the morgue…
Interesting that you chose not to mention the stats for “In hospital due to COVID-19 (excluding ICU)”…
I wonder why that was?

#69 crowdedelevatorfartz on 08.11.21 at 7:03 pm

@#59 Sara
“And amazing arrogance”

++++

I agree.
Have you thought about therapy for it?

#70 DON on 08.11.21 at 7:05 pm

#52 When Will They Raise Rates? on 08.11.21 at 5:22 pm
#44 midnights on 08.11.21 at 4:57 pm

Did you plagiarize Garth, lol?

https://www.zerohedge.com/personal-finance/one-redditors-tale-regret-exposes-homebuyers-suddenly-paying-price-fomo

—————-

Nope, Garth had it first… Steve Saretsky then sent it to Wolf Richter who did a piece on it last night, then zerohedge picked it up today.

Would have been cool if zerohedge had republished Garth’s instead – I thought Garth did a better job, no offence to Wolf Richter.

******
Confirmed.

Saw it on Garth’s blog first later on ZeroHedge.

#71 Ponzius Pilatus on 08.11.21 at 7:10 pm

#64 crowdedelevatorfartz on 08.11.21 at 6:43 pm
@#54 Sail away

“Yes, lots of cactus at the canyon bottom. We mostly hunt the top plateau and avoid the open south-facing slopes. ‘

+++

Sounds amazing.
We would raft/float downriver until about 1pm then set up camp, gather firewood and go hiking.
Up the slopes to get a better view.
There were a few ranches along the river with irrigation set up for hay and a few Reserves.
The salmon was running and we’d drifted past natives with dip nets hauling out fish by the barrel load.
Great trip.
Nice country.
Ever go up in winter?
————————-
Every year he goes up there in Winter.
Right after he comes back from Hawaii with another boatload full of rare Whale paintings.

#72 Henry on 08.11.21 at 7:12 pm

Garth, I agree that Canadians are so obsessed with real estate in Canada. I am unfortunately caught up in these low interest rates with my RRSP, TFSA, non-registered money. I got disabled 2 years ago and could not work so I wanted to make sure I protected most of my money.

The short term good news is 90% of my money is still locked in until 2025, 2026 at 3.25% to 3.5% GIC’s compounding so there is no current interest rate risk with most of my money. The other 10% is in laddered GIC’s at 1.75% to 1.85% 1 year to 18 months.

Now that I am retired, I am currently for 3 months already now putting my $2,000 a month excess cash and buying two ETF types 50% in REIT’s, 50% in financials.

By the time my multiple RRSP, TFSA GIC’s matures, the most I will have is 16% of all my money in REIT’s, financials. I can easily withstand a 30%-40% drop but I prefer it does not happen. It would mean max a 7% to 8% overall drop to all my investments so is very doable. I have a bad feeling this December-2021 will be a 20% drop in Canadian, US equity markets.

#73 Sara on 08.11.21 at 7:14 pm

#64 crowdedelevatorfartz on 08.11.21 at 6:43 pm
@#54 Sail away

“Yes, lots of cactus at the canyon bottom. We mostly hunt the top plateau and avoid the open south-facing slopes. ‘

+++

Sounds amazing.
We would raft/float downriver until about 1pm then set up camp, gather firewood and go hiking.
Up the slopes to get a better view.
There were a few ranches along the river with irrigation set up for hay and a few Reserves.
The salmon was running and we’d drifted past natives with dip nets hauling out fish by the barrel load.
Great trip.
Nice country.
Ever go up in winter?
===================

Time for you two to get a room.

#74 Nonplused on 08.11.21 at 7:15 pm

More on the eviction moratorium et al.

https://www.zerohedge.com/markets/google-employees-face-pay-cuts-25-working-home-permanently-leaked-salary-data

““What does it mean that my flat is now a commodity on the stock market, where the goal is to draw as much profit as possible for shareholders?” said Jonas, who lives in a property in Kreuzberg owned by Berlin’s biggest listed landlord Deutsche Wohnen, the main target of the campaign. “These questions are now resonating across Berlin, and beyond.”

Well, what it means is that apartments exist. If developers knew ahead of time that assets which they invested billions to develop would be taken away on a whim – i.e., socialism – they would never have been built leading to a far more dire result.”

————————————–

Let’s think about that in terms of the eviction moratorium. If the landlords are not made whole for back-rent now going on a year in some cases, what will that mean for the future of the rental market? Will companies or private individuals invest money to bring new rentals to market? I think we can assume the risk calculation will go way up. Less rentals will be built in the future, and what landlords there are will charge more to cover the risk of nonpayment.

Will this make home ownership more affordable? Less housing stock whether offered for rent or purchase means less supply and thus higher prices.

Will this mean renters will step up and buy more housing? Remember they can’t afford to buy now, so why will they suddenly have more money to buy when the housing market suddenly stops building rentals?

What we are looking at here is a potentially long term unintended consequence of another short term expedient decision. The evection moratorium has drastically changed the risks landlords face, which will no doubt cause them to reassess whether this is a market in which they wish to invest. That will reduce the number of units built. That’s no way to solve a housing crisis.

Once again we see that government can only make things worse.

Eviction moratoriums and the “Keep Your Rent” crowd may work out well for those that currently have a place to rent, er, I guess “not rent” or “squat”, but how is it going to work out for those kids who are growing up and maybe immigrants who need the housing stock to grow? Who is going to grow it, now that there is effectively no consequence of any substance and no enforcement options if someone simply doesn’t pay?

This will take years to play out but I think we can figure out where it is going. No new rentals, only those who can buy will be able to obtain housing, and the housing crisis gets worse, not better. However because this is a medium to long term affect, sort of like government debt or inflation, it will take years for the effects to become obvious and not 1 person in 100 will be able to diagnose the cause.

And it begs another question: If tenants do not have to pay the rent, why do landlords and homeowners have to pay the mortgage? What happens when we go down that road?

In the end of the day, the solution was always there for people who didn’t want to pay rent; buy your own place. But now that squatting is de facto legal, some changes are coming to the market, one of which will be that if you don’t already have a place to squat, none will be made available either for squatting or for rent. Only those who can buy will have places built for them.

Think things are bad now? Wait.

#75 the Jaguar on 08.11.21 at 7:17 pm

I’m relieved to see a new dog photo today. The one yesterday was disturbing. A dog lying like that, exhausted. Facing away from the humans who were at quite a distance. I don’t like it, however well intentioned the person was who provided the photo. Something sad about it.

Re this exchange:
#32 DON on 08.11.21 at 4:16 pm
#16 Nonplused on 08.11.21 at 3:07 pm
#145 DON on 08.10.21 at 11:38 pm

Nonplused: DON is absolutely correct. What he says is bona fide and a bit of an understatement. You’ll just have to trust me. There are times when the rubber meets the road and all is ‘revealed’. Maybe not in your ‘hood’, but for sure in some others, whose neighbourhoods will not be mentioned to protect the guilty.

About this Garth: ‘Do the oldies never expect it to be repaid?’……………… Do you see a lot of parents providing $$$ because they decide to disperse financial assets now to avoid probate fees later? I don’t say this as an endorsement of those who provide funds to rush their kids into a house purchase to live out their own aspirations for them, but as a means of passing on wealth prior to passing… if you know what I mean. (wink).

All young people should first live in a coldwater flat similar to the one where Garth and Dorothy had their Christmas tree stolen, take public transit, and learn to cook, exercise more and limit screen time. Over and out.

#76 jess on 08.11.21 at 7:20 pm

anti government/libertarian governors and the representatives from the “freedom carcass” seem to need help from the government especially texas and florida

https://www.msnbc.com/all-in/watch/anti-government-republicans-ask-for-help-from-the-government-118327877957

#77 Nonplused on 08.11.21 at 7:22 pm

#50 Ray Skunk on 08.11.21 at 5:15 pm
Well, better for the parents to gift that $1m now, otherwise they’re holding out for the inevitable inheritance tax that’ll be needed to pay for votes this election.

There is no inheritance in Canada, nor is there one coming. – Garth

———————————-

Good! All inheritances in Canada are already paid with after tax money. And the taxes are paid by the deceased, so at a higher tax bracket than may be the case if there are multiple heirs. Well except perhaps the PR exemption, which is small potatoes for the truly rich and a lifeline for the modestly endowed.

#78 Moral of the story on 08.11.21 at 7:23 pm

#30 Bob in Hamilton on 08.11.21 at 4:10 pm
“A million bucks. As a gift. Seriously.”

Lucky kids and fortunate.

Everyone should be so blessed with such parents.

______________________________________

So choose your parents wisely!

#79 Nonplussed on 08.11.21 at 7:28 pm

#32 DON on 08.11.21 at 4:16 pm
#16 Nonplused on 08.11.21 at 3:07 pm

Of course two wrongs don’t make a right.
.why the assumption?

———————————–

My point was I don’t see that landlords, primarily those renting out their basement or “helper suites” who don’t declare that income, and people not paying the rent, are related issues. Both should be addressed independently. Neither has a bearing on the other.

#80 Yuus bin Haad on 08.11.21 at 7:43 pm

on second thought, I’m going back to my original observation: these “letters to the editor” are bogus

Now why would I do that, when this site attracts so many weird people sharing their lives? – Garth

#81 Boom Town Rat on 08.11.21 at 7:50 pm

#9 Jane24 on 08.11.21 at 2:35 pm

Be very very careful of those STRINGS. There are always strings in such gifts.
———-
I always use the term “GOLDEN HANDCUFFS”

#82 Sail Away on 08.11.21 at 7:53 pm

#64 crowdedelevatorfartz on 08.11.21 at 6:43 pm
@#54 Sail away

“Yes, lots of cactus at the canyon bottom. We mostly hunt the top plateau and avoid the open south-facing slopes. ‘

———-

Sounds amazing.
We would raft/float downriver until about 1pm then set up camp, gather firewood and go hiking.
Up the slopes to get a better view.
There were a few ranches along the river with irrigation set up for hay and a few Reserves.
The salmon was running and we’d drifted past natives with dip nets hauling out fish by the barrel load.
Great trip.
Nice country.
Ever go up in winter?

———-

Lots of salmon netting in Farwell Canyon by the Tsilcotins. The new bridge has a manual winch/davit system for hauling fish up. It may be possible that we regularly eat salmon obtained through a cash-based barter system, but my recollections are fuzzy.

We’ve never stayed up there between Dec 1-May 1 but hear it can get chilly.

#83 Freedom First on 08.11.21 at 7:54 pm

#5, #37 TurnerNation

It is very simple to gain control over human beings. Divide and conquer. All communists/fascists/dictators have done so throughout history.

People have looked back on history and wondered how could people have been so gullible?

The world is now going through such a period. TurnerNation, I am listening and watching also. I appreciate all of your posts, and I am not surprised by the bullying, shaming, and ridiculing you get by some people. This always happens. Later, people have no choice but to see the truth, when what is done in the dark, is revealed in the light.

There is other posters on this blog that can see what is happening. God Bless you all.

Freedom First

#84 Devon on 08.11.21 at 7:54 pm

It looks like to me that all the smaller bars, restaurants, gyms etc. are being sold a bill of goods. Vaccine passports, vaccine certificates, vaccine proof at the door in these places will likely hurt their business once summer ends and things look to get more dicey.

#85 S.Bby on 08.11.21 at 7:59 pm

That free million bucks is really going to cost them.

#86 DON on 08.11.21 at 7:59 pm

From the ZeroHedge article…Whadda yah know, Garth was right. I guess youth doesn’t know everything. ‘It’s different this time’.

“That’s amazing to someone like me who has been around the block too many times is the naiveté and the surprise displayed in these eloquent words by the perplexed and frustrated potential home seller.

What were they thinking when they bought the house?

They weren’t thinking. They were governed by the fear of missing out (FOMO), and the poster admitted it. FOMO stipulates that you stop thinking, and that you act without thinking, and act now before someone else snaps the overpriced house out from under you. A housing bubble operates on that basis. You cannot maintain a housing bubble without FOMO.”

#87 Cici on 08.11.21 at 8:18 pm

Nice work, Kayla.

And great advice as always, Garth.

In such a fragile world with so many unknowns, I shudder to think of how many parents may be risking their own retirements to get their kids into housing. Even if they manage to keep housing afloat for another 30 years without so much as a tiny correction, inflation and taxes could take a huge bite out of savings.

Oh well, enough of that. I have other things to worry my pretty little head about.

#88 Sara on 08.11.21 at 8:18 pm

#69 crowdedelevatorfartz on 08.11.21 at 7:03 pm
@#59 Sara
“And amazing arrogance”

++++

I agree.
Have you thought about therapy for it?

=================
Nah. No proven therapy. At best he can better learn how to hide his dysfunction.

#89 Sydneysider on 08.11.21 at 8:23 pm

#8 Niagara Region on 08.11.21 at 2:35 pm

You will need to open a “direct investment” account with a bank such as RBC or TD, or a brokerage such as Questrade or Qtrade. If with a bank, you might also benefit to open some kind of current account, so you can transfer money in and out more easily. You can usually set up the account(s) online, then upload/drop off the vital documents. Alternatively book an apointment with a financial advisor, but beware they don’t try to sell you mutual funds.

After that, you can buy and sell what you like.

You can direct other questions to the r/CanadianInvestor board on Reddit.

#90 DON on 08.11.21 at 8:23 pm

#79 Nonplussed on 08.11.21 at 7:28 pm
#32 DON on 08.11.21 at 4:16 pm
#16 Nonplused on 08.11.21 at 3:07 pm

Of course two wrongs don’t make a right.
.why the assumption?

———————————–

My point was I don’t see that landlords, primarily those renting out their basement or “helper suites” who don’t declare that income, and people not paying the rent, are related issues. Both should be addressed independently. Neither has a bearing on the other.

******
They are related as both should be paying. One side paying their taxes and the other paying their rent no cheating.

#91 crowdedelevatorfartz on 08.11.21 at 8:38 pm

“Now why would I do that, when this site attracts so many weird people sharing their lives? – Garth”

+++

Yes Sara is a tad “odd”.
But we still love her despite her idiosyncrasies.

#92 yvr_lurker on 08.11.21 at 8:46 pm

1Mill as a gift. Very soon, if not now, these will be the only types of people who can afford living in a similar home in YVR or the GTA that a sole-income family was able to purchase in 1970. Have we made progress? Has a large swath of Canada turned into Monaco? Are we better off then we were in 1970? Are these types of people the only ones to really be able to succeed in the *&(&(_ afforadability mess that gets worse by the year?… the clear answers are No, Yes, No, Yes…

Is the average Joe expecting a 1Mill gift for housing to succeed?

#93 Sara on 08.11.21 at 8:51 pm

If stories like this one, don’t encourage you to get vaccinated, I don’t know what will – besides vaccine passports that is.

https://www.usatoday.com/story/news/nation/2021/08/11/florida-mom-dies-covid-19-after-birth/8101561002/

#94 FriedEggs on 08.11.21 at 8:52 pm

#83 Its because most bullies are afraid.

#95 Nelson on 08.11.21 at 8:52 pm

It’s depressing to see how much this blog has become a daily read for the most white and privileged in our country, and caters almost exclusively to the same.

It ridicules those who have built their wealth by taking a chance on extreme leverage in the housing market over the last couple decades. Hate to break it to you Garth but although you refer to those riches often as ‘unearned’….they have been come by honestly when compared to how most of your clients and readers seem to have acquired their net worth.

The game was already fixed and the pandemic fixed it further. There are a whole lot of people out there not so privileged as the readers of this blog.

“In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage” – J.S.

Maybe readers are privileged because they come here. You are my guest. Act like one. – Garth

#96 Ponzius Pilatus on 08.11.21 at 8:56 pm

#75 the Jaguar on 08.11.21 at 7:17 pm
I’m relieved to see a new dog photo today. The one yesterday was disturbing. A dog lying like that, exhausted. Facing away from the humans who were at quite a distance. I don’t like it, however well intentioned the person was who provided the photo. Something sad about it.
———-
Agree,
Would have been comforting to know what happened to the dog afterwards.
But then, sometimes it’s better not to question local customs.
When in Rome etc.

#97 45north on 08.11.21 at 9:23 pm

PastThePeak talking about Covid 19
The good news:
– Vaccines do reduce infections for Delta (40-60%), and dramatically reduce hospitalizations and death
– Delta is so contagious (approaching chicken pox levels say CDC in some reports) that a much larger number will be infected than reported, leading to a much faster level of natural immunity.
– Natural immunity appears to be longer lasting / better than vaccinations
– New vaccines and booster shots are on the way for those that want them.

noted

#98 Dr V on 08.11.21 at 9:33 pm

91 fartz – Awww, that’s sweet.

#99 mike from mtl on 08.11.21 at 9:34 pm

#84 Devon on 08.11.21 at 7:54 pm
It looks like to me that all the smaller bars, restaurants, gyms etc. are being sold a bill of goods. Vaccine passports, vaccine certificates, vaccine proof at the door in these places will likely hurt their business once summer ends and things look to get more dicey.
//////////////////////////////////////////////////////////

The twisted logic of fear based ‘keep me safe’ is full on display here. Speaking as being dosed what are you supposed to be exactly afraid of? The workers can’t be discriminated against employment so not subject, but patrons for sure are the problem? Wow amazing logic.

Who is going to enforce this at the local burger joint? Or the brownshirts patrolling asking for papers, so retro?

In the end will solve nothing:

-CV19 is not going away
-the current vaccines are not the miracle as originally promised
-current vaccines are showing not much efficacy as other annoying modern respiratory viruses
-all measures over the last 16 months had zero effect
-keep the cases low at all costs despite evidence otherwise
-half of the world will never be treated due to lack of otherwise basic needs so a natural vector
-lockdowns are supposed to be the primary tool to contain the virus, ask Australia how well this works.

The ugly truth is that a few generations need to burnout the worst of this virus. Oldies, the adults and everyone else need to survive or succumb then we as a whole can accept that CV19 is just annoying at that point.

Extending the misery for years or worse won’t change the result. The time to contain was late 2019, not now.

#100 Sara on 08.11.21 at 9:41 pm

#91 crowdedelevatorfartz on 08.11.21 at 8:38 pm
“Now why would I do that, when this site attracts so many weird people sharing their lives? – Garth”

+++

Yes Sara is a tad “odd”.
But we still love her despite her idiosyncrasies.

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

Yawn. I know you try hard, but you’re not particularly witty.

#101 When Will They Raise Rates? on 08.11.21 at 10:10 pm

#95 Nelson on 08.11.21 at 8:52 pm

It’s depressing to see how much this blog has become a daily read for the most white and privileged in our country, and caters almost exclusively to the same.

—————

Lol what?!?

I’m pretty sure RE and investment advice is colour blind. You people are out of your collective minds.

#102 Ryan U on 08.11.21 at 10:44 pm

I don’t buy the 3% inflation. M2 money supply up 15%. Housing listings down 50% vs LY and immigration has been way down vs plan. Supply issues will continue. People need assets , housing and stocks – to not get left behind.

#103 Sunshowers on 08.11.21 at 10:46 pm

#74 Nonplused
I think you missed the part of the article that many of these rental properties are gentrified older buildings which were publicly owned and sold to developers, not new builds.

Your whole argument is largely a red herring because the large firms who actually BUILD new rental units tend not to build ones for low to middle income families, as there is more competition with government housing and less profit to be made.

Seems like the job should be left to an entity to whom the public good is more important than profit.

#104 Ponzius Pilatus on 08.11.21 at 10:59 pm

I remember at the beginning at the pandemic when businesses asked for a temperature check and your phone #.
What’s the diff, asking for a vax pass.
Thanks to JT and his crew to finally make a passport available to those who want it.
I for one, am looking forward to being able to go and watch my daughter’s soccer games again, knowing that I am among other civic minded people.

#105 yvr_lurker on 08.12.21 at 12:28 am

#55 Looney for sure…
That is what I told one of my kids recently. I told them that our money would likely go to charity when we die so they need to take advantage of the support we are providing for them to train and work to support themselves. The response was, “why give it to people we don’t know when we love them”. My response was that we would do that because we do love them. If we didn’t, then we’d deprive them of the pleasure of enjoying the spoils of their own work
——————–
We see it through the mindset of economic immigrants so to speak.

We don’t say a word about what $$$ we have to our kid or what he will or will not get. He works hard in jobs/school and has in his mindset that both his parents came from a background where it was normal to have a sofa rotting out in the rain on your front porch. No trust fund babies.

However, when the time comes and we die he will be surprised at what we have saved for him and not have to re-invent the wheel (which is becoming increasingly difficult with the expense of housing etc). I am not working like a dog (although I enjoy my ljob) and being frugal for coming on now 35 years to give what I have to some charity when I pass…. nope…nunca..nada…. While I am alive I happily give a fair sum to various animal welfare concerns… but that is where it stops….

#106 Sara on 08.12.21 at 1:04 am

To those who were crowing a few months back about how well they thought Florida was handling the pandemic (cough, SailAway), things aren’t looking so good lately eh?

#107 calgaryPhantom on 08.12.21 at 3:55 am

#95 Nelson on 08.11.21 at 8:52 pm
—-
Maybe readers are privileged because they come here. You are my guest. Act like one. – Garth

——————————————————————-
I am one of those who is privileged cuz of coming here (non suck-up comment).
Can’t speak for others, but Mr. Nelson, just reading Garth’s FREE blog has guided me on managing my finances and building wealth from my post graduation period to present day. This journey literally started from some 10k in chequing account to now a healthy pot of 7 figures across all kind of accounts.
Perhaps you should also appreciate and try to heed to FREE but Valuable advice/knowledge here.

*P.S. so far it has been free advice, but now that money is big, I might reach out to Garth for managing. And then it won’t be free no more ( sigh).

#108 Under the radar on 08.12.21 at 6:22 am

Strings attached? Not so sure. Depends on the personality of the people giving the gift. Ploughing $1 million into Toronto real estate is a pretty safe bet . Every parent wants to see that their kids are secure. You can’t live in a Portfolio of ETFs.

#109 Another Deckchair on 08.12.21 at 8:10 am

@95 Nelson

“There are a whole lot of people out there not so privileged as the readers of this blog.”

When I was a teenager, my mother very pointedly told a grumpy me: “You make your own luck, now go out there and make it”.

Ups and downs along the way – the turning point came about 25 years ago when I found a partner who knew the value of money but had also been taken to the cleaners by an ex.

Slow but continuous saving from close to zero $$, tracking expenses, and listening to Garth and others, means that now, we don’t have to work anymore.

Anyone can do this. Most won’t. The big question is, will you?

#110 crowdedelevatorfartz on 08.12.21 at 8:22 am

@#95 Underprivileged Nelson
“There are a whole lot of people out there not so privileged as the readers of this blog.”

++++

How did you get past the guards?

#111 They did it on purpose on 08.12.21 at 8:26 am

Alot of small businesses are going to close or already closed permanently. The Liberals, NDP, progressives should be really happy now that they can make them dependent on government benefits. This is Obama’s wet dream come true. Remember, you did not build it.

#112 crowdedelevatorfartz on 08.12.21 at 8:28 am

@#100 Sara
“Yawn. I know you try hard, but you’re not particularly witty.”

++++

As Winston Churchill once said,
” I would love to engage in a battle of wits Sir, But I dont want to fight an unarmed man.”

#113 the Jaguar on 08.12.21 at 8:31 am

Excerpts NP: (time to crawl out from under the bed naysayers. The return to normal is underway) Westjet:

“These factors have the Calgary-based airline forecasting an “accelerated recovery” through the end of the year.
“We will bring back service to Calgary faster than we bring back service to any other major city,” John Weatherill, Westjet’s chief commercial officer, told the online meeting.
Before the pandemic, Westjet offered 69 non-stop routes flying in and out of its hub in Calgary, but that number now sits at 44. The airline will return to the previous level by next spring — even bumping it up to 71 routes with the addition of direct flights to Amsterdam last week, and a new connection to Seattle in November.
“Based on what we see now with the booking trends … we believe there will be demand by the end of the year that will be equivalent to about where we were in 2013,” Weatherill said in an interview.
There has already been an upswing in traffic at the Calgary airport, which saw nearly 500,000 passengers in July, compared with fewer than 200,000 in February.”

#114 IHCTD9 on 08.12.21 at 8:38 am

#95 Nelson on 08.11.21 at 8:52 pm
It’s depressing to see how much this blog has become a daily read for the most white and privileged in our country, and caters almost exclusively to the same.
____

Plenty of non white folks reading and posting here. Plenty non rich folks posting too.

Also. get working on a new scape goat. Beginning with Gen Z, whites are actually a minority majority in Canada. By the time Millennials retire, whites will be a national minority – probably a fast shrinking one.

#115 New York New York on 08.12.21 at 8:41 am

Like always, they are not telling the truth. New York city will not recover as their 1,000 people a day leaving to more greener pastures, Florida will just add to the 500,000+ already left with most of the wealth, money and leave New York closer to bankruptcy, federal bailout from DeBlasio’s Biden buddy.

#116 Shawn Allen on 08.12.21 at 8:43 am

House versus investments

#108 Under the radar on 08.12.21 at 6:22 am

Said: Ploughing $1 million into Toronto real estate is a pretty safe bet . Every parent wants to see that their kids are secure. You can’t live in a Portfolio of ETFs.

*****************
Can’t live in a portfolio but can ultimately live on a portfolio…

#117 Y. Knott on 08.12.21 at 8:47 am

#106 Sara on 08.12.21 at 1:04 am
To those who were crowing a few months back about how well they thought Florida was handling the pandemic (cough, SailAway), things aren’t looking so good lately eh?
_ _ _ _ _

It wasn’t a bug Sara, it was a feature:

https://www.zerohedge.com/markets/cdc-forced-adjust-sundays-florida-covid-case-count-lower-almost-50-after-state-health

#118 Gigi on 08.12.21 at 9:03 am

New York New York, the New York city democrat government will get the federal bailout money but not small businesses and New Yorkers that need it. New York has not been in big financial pickle for the first time. They already got bailed out by the US government in the 70’s or it was already bankrupt.

#119 IHCTD9 on 08.12.21 at 9:26 am

I don’t mind helping out the kids with a bit of $$, but the last thing I’m going to do is give them a mountain of cash and indicate it is for buying a house.

IMHO, Canadian youth may be wise to remain mobile and fleet of foot. Right now there are are a TON of *outstanding* reasons for not buying a house, or tying yourself down to any particular area – or country.

Canada has been a good bet till now, but it looks like post-Trudeau Canada is going to be for rich folks only. The cost of living and working here is just going to be way too high for regular working stiffs. This situation will probably last until some major component of our society buckles under the weight thereby producing a crisis.

The future of the planet is global, churned, and likely unstable for a couple generations yet. Work is changing fast and there is going to be ever less of it to go around. There will also likely be some major catastrophic events in the decades to come that affect the entire globe (eg. crop failures). Stress may produce some crazy leadership – which may do some crazy things.

The future looks like a great time to be light, nimble, and unpatriotic…

#120 IHCTD9 on 08.12.21 at 9:36 am

#115 New York New York on 08.12.21 at 8:41 am
Like always, they are not telling the truth. New York city will not recover as their 1,000 people a day leaving to more greener pastures, Florida will just add to the 500,000+ already left with most of the wealth, money and leave New York closer to bankruptcy, federal bailout from DeBlasio’s Biden buddy.
____

Start spreading the news, I’m leaving today. I will not be a part of it – New York, New York!

#121 reality is coming on 08.12.21 at 9:38 am

I think in coming months there will be alot more drug overdoses and suicides. All types of people even alot of vaccinated people will die of other causes but no from Covid. You can’t escape the grim reaper.

This will not be reported as reality rarely is anymore. Reality bites.

#122 Joy on 08.12.21 at 9:52 am

I see NDP’s Jameet Singh is diddling around his socialist utopia. Really make the equality of Canadians a real priority. Forget $2,000 a month UBI or forgiving $20,000 student loans, free childcare, free pharmacare, free dental etc. Lets do it now, it is urgent.

NDP, are you reading this. Give every Canadian $10 million dollars direct deposit it in their bank accounts the same day your party is officially in power. I mean everyone, it does not matter if they are 1 years old or 90 years old. Do it right away, no excuses. Give everyone the joy of learning about the NDP’s misery economics and how you can’t escape math and reality. The NDP, Liberals, Greens, leftists, progressives, socialists, communists, marxists etc, look at how many parasites there are can do is make everyone poorer and poorer everyday until we all have nothing.

#123 Flop… on 08.12.21 at 9:57 am

These parents probably would have been early adopters of the “Baby on board” signs you see in cars.

They are usually the most reckless drivers…

M47BC

#124 Liberals Economic Faliure on 08.12.21 at 9:58 am

I see gas prices are $1.40 a liter here in GTA. Pay up guys, it is getting to $2.00 a liter after Liberals Trudeau, Freeland get a majority. I say within the first term, 4 to 5 years from now 2025, 2026, we will have $2.65 to $3.00 a liter gas prices in GTA. Buck up, you can use your useless $1,400 a month UBI to live in poverty.

#125 crowdedelevatorfartz on 08.12.21 at 10:14 am

Ok all you chubby, diabetic Millennials…..time to delete “Skip the Dishes” from your phone and learn to eat salad….
My Canada Pension Plan depends on it.

https://www.reuters.com/investigates/special-report/usa-diabetes-covid/

#126 Mattl on 08.12.21 at 10:29 am

#36 Mr Work At Home on 08.11.21 at 4:28 pm
Noticed this on twitter, gotta say ouch

“Google rolls out ‘pay calculator’ explaining work-from-home salary cuts ”

https://nypost.com/2021/08/10/google-slashing-pay-for-work-from-home-employees-by-up-to-25/?utm_campaign=SocialFlow&utm_medium=SocialFlow&utm_source=NYPTwitter

———————————————————–

This wouldn’t be new policy. Like most large corps that have distributed workforces, pay is on a scale related to cost of living. All they are doing is enforcing existing policy. So if you decide to move to the boonies and WFH you end up on a different scale then a NY based employee that goes to WFH.

Article indicates that a NY based employee that decides to work from their home receives 100% pay. And most employees would take a 5-10% cut that would be easily offset by being able to live in a lower cost location.

Not ouch at all, a very fair policy and more confirmation that large orgs are moving to more flexible work arrangements.

#127 Sail Away on 08.12.21 at 10:41 am

#106 Sara on 08.12.21 at 1:04 am

To those who were crowing a few months back about how well they thought Florida was handling the pandemic (cough, SailAway), things aren’t looking so good lately eh?

———-

https://youtu.be/iB_1kAFK9oU

#128 Former Navy Chief on 08.12.21 at 10:45 am

#8 Niagara Region on 08.11.21 at 2:35 pm

One great way to get started is to sign up for an on-line service. I use Moka (it used to be called Mylo), which rounds up my purchases and invests into an ETF-based TFSA.

It’s a convenient way to get started investing, and a management fee of $3.00 per month is quite reasonable.

My rate of return has averaged 7.6% in the last 12 months.

#129 crowdedelevatorfartz on 08.12.21 at 10:55 am

@#124 Liberals and NDP Economic Failure
“I see gas prices are $1.40 a liter here in GTA. ”

+++

Pffft.

Try living under an NDP Provincial Govt.
The Liberal Federal Govt.
And a bunch of whiny lickspittles in Municipal govt.
$1.70/litre in the Lower Brainland baby.

Skies the limit when you’re trying to legislate people out of their gas guzzlers to stop the Glaciers from melting……

Oh and the govt car insurance here ICBC just “reduced” our car insurance rates from $2000 per year to $1700 per year for a “Gold Star Driver” ( no accidents/ claims for 10+ years).
But they removed the ability to sue for bodily injury claims …” no fault” means “no pay” in BC

Just ask these two parents how they feel about getting $28,000 for their baby girl…
The cars that killed her will receive more money for repairs.

https://bc.ctvnews.ca/pedestrians-struck-toddler-killed-father-hurt-in-downtown-vancouver-crash-1.5499713

#130 Darren on 08.12.21 at 10:58 am

I don’t know if many of have seen the movie Demolition Man, a 1993 Stallone, Snipes two major actors in it where they were unfrozen to come back to life to fix crime ridden San Angeles not called Los Angeles. It looks like this is what they want to bring us to become.

Eating meet, smoking, alcohol, swearing, having physical sex are all illegal and you get fined credits. There is no more fiat money. Electric vehicles everywhere. They are There are rebels living below in sewers that do not want to follow the archaic, tyrannical rules. I bet there is more I forgot but it looks like a real dystopian society. Maybe this is the great reset coming.

#131 Freddie on 08.12.21 at 11:11 am

I looked it up and the Demolition Man movie is a 1993 movie but it takes place in the year 2032. It is only 12 years ahead and all this talk of using only electric vehicles, getting rid of oil, fossil fuels, open banking, electronic, digital currencies on your phone, computer, AI, robots, social credit system like Communist China’s system, climate change, beyond meat and others trying to stop eating meat, certain other foods, censorship online, internet, cancel culture, India put in a 2 child policy coming, in general trying to limit or reduce population, impact on the earth. It look pretty close to what is here and is coming this movie based in what it looks like in 2032.

#132 Yukon Elvis on 08.12.21 at 11:11 am

An Okanagan infant has been hospitalized after testing positive for COVID-19.
CTV News Vancouver is reporting that an 11-week-old boy was hospitalized at Kelowna General Hospital overnight Monday.

https://www.castanet.net/news/Kelowna/342648/Okanagan-infant-rushed-to-KGH-emergency-with-COVID-19-home-now-still-sick#342648

#133 Biden is not protecting the US border on 08.12.21 at 11:31 am

Jess, especially Texas where Joe Biden democrats are purposely allowing illegals in to spike up the covid cases. Basically, making things worse through the border. At least 20% to 25% of new covid cases are probably from illegals that are not being tested and allowed to go freely through the border illegally.

#134 Dharma Bum on 08.12.21 at 11:38 am

Those unfortunate youngsters – I feel for them.
It must be awful having parents and in laws like that.
Real skinflints.
Total cheapskates.
What kind of a “gift” is a million bucks?
Pshawwwww!
If they really cared about their kids, they’d buy them the house outright. Not just tease them with a skimpy down payment and give them all that grief.
Now all those poor kids have is a big dilemma.
What to do, what to do?
Invest?
Travel?
Buy cars and boats?
Buy a house?
Where to locate?
Oh my.

#135 Dharma Bum on 08.12.21 at 11:38 am

Those unfortunate youngsters – I feel for them.
It must be awful having parents and in laws like that.
Real skinflints.
Total cheapskates.
What kind of a “gift” is a million bucks?
Pshawwwwww!
If they really cared about their kids, they’d buy them the house outright. Not just tease them with a skimpy down payment and give them all that grief.
Now all those poor kids have is a big dilemma.
What to do, what to do?
Invest?
Travel?
Buy cars and boats?
Buy a house?
Where to locate?
Oh my.

#136 Franco on 08.12.21 at 11:53 am

CrowdedElevatorFartz, you guys in BC have the extra BC, provincial carbon tax on your gas for over 10 years. Maybe BC residents should send a thank you note to David Suzuki and CBC.

#137 Dragonfly 58 on 08.12.21 at 12:01 pm

If it was still possible to have a traditional life plan , get a decent education in a career path that is in reasonable demand, keep your nose to the grindstone in that career, keep current with changes in that career, be very careful to live within your means, and still own a middle class property in the Greater Vancouver area I would say the gift is unnecessary and perhaps even a detriment in some regards.
But that is no longer possible. The going rate is now 1.5 – 2.5 million. Only a tiny number of jobs / careers are going to get you into this club.
Complete disconnect between what average places cost vs even upper middle class incomes.
Just way too much money coming into the area from sources other than local careers.
Very few locally employed households have a $200,000.00 + yearly income yet that is the ground floor for a average local detached residence.
The game can’t be won based on the rules we grew up on coming from a middle class background, wife and I are in our early 60’s.
Wife and I own a home, very modest piece of West Coast junk, as much compost as dwelling at this point, but still it represents the first million. Where would the second million possibly come from ?

#138 Love_The_Cottage on 08.12.21 at 12:02 pm

I took the subway down to the Jays game last week during rush hour. The subway was at maybe 20% of normal volume.

Not one person I know has been asked to go back to the office at this point.

#139 Sara on 08.12.21 at 12:16 pm

@SailAway and other cherry pickers:

Florida has yet again broken a new case record as the state reported 24,753 more COVID-19 cases to the Centers for Disease Control and Prevention on Tuesday.

Florida — which makes up about 6.5% of the U.S. population, accounted for 18.7% of the country’s new cases on Tuesday — based on data the state is reporting to the CDC. As of Aug. 10, the state’s seven-day moving average of new cases was 21,156, up from a moving average of 3,701 on July 10. That number represents roughly a 472% increase, stemming from the highly contagious delta variant.

https://www.miamiherald.com/news/coronavirus/article253431679.html

#140 Sara on 08.12.21 at 12:26 pm

Florida hospitals have also reported having 15,449 patients on Wednesday, up from a record 14,000 set two days prior, according the South Florida Sun Sentinel.

The Sun Sentinel notes that the newest group of patients in Florida’s hospital is mainly people between the ages of 25 and 55 who are unvaccinated and mostly have no underlying health conditions.

Florida Gov. Ron DeSantis (R) has banned local mask and vaccine mandates amid the latest surge, often downplaying the severity or deflecting away from questions about the skyrocketing cases in his state.

The Biden administration sent about 200 ventilators and 100 smaller breathing devices to Florida at the state’s request.

The state reportedly requested 300 ventilators, but DeSantis said he wasn’t aware that of the request and doubted reports that the state made the request.

https://thehill.com/policy/healthcare/567554-florida-sets-new-high-for-daily-covid-19-cases

#141 Peter Fong on 08.12.21 at 12:31 pm

What about people that take vaccines and have permanent damage? Money paid to them can’t fix their health problems they have to live with later. I hope people here do not have long term damage and the cure is worse than the disease.

#142 TheDood on 08.12.21 at 12:34 pm

#129 crowdedelevatorfartz on 08.12.21 at 10:55 am
@#124 Liberals and NDP Economic Failure
“I see gas prices are $1.40 a liter here in GTA. ”

+++

Pffft.

Try living under an NDP Provincial Govt.
The Liberal Federal Govt.
And a bunch of whiny lickspittles in Municipal govt.
$1.70/litre in the Lower Brainland baby.

Skies the limit when you’re trying to legislate people out of their gas guzzlers to stop the Glaciers from melting……

Oh and the govt car insurance here ICBC just “reduced” our car insurance rates from $2000 per year to $1700 per year for a “Gold Star Driver” ( no accidents/ claims for 10+ years).
But they removed the ability to sue for bodily injury claims …” no fault” means “no pay” in BC

Just ask these two parents how they feel about getting $28,000 for their baby girl…
The cars that killed her will receive more money for repairs.

https://bc.ctvnews.ca/pedestrians-struck-toddler-killed-father-hurt-in-downtown-vancouver-crash-1.5499713
__________________________

What a catastrophic tragedy for that family. Those parents will never be the same as human beings.

The whole insurance fiasco is just another kick in the teeth for the victims – a good example of a system that is completely off the rails. There is ZERO deterrent for bad driving in BC and the underlying message in this instance is that you can drive like an idiot, kill an innocent child, and here’s $50k to go get a new car. For the victims, here’s $30k for your loss. What a pathetic system!

#143 Sharon on 08.12.21 at 12:51 pm

The Dood, government at it’s finest. This is what really scares me, when government gets too involved, they don’t know when to back down, don’t overreach anymore. As for Covid, it will be gone but government will keep growing and growing until it crowds out businesses then leaves only government and we all know how that ends up.

Don’t tell me it cannot happen here. I don’t know how people think that the government can protect you from everything. It just is not possible.

#144 Calgary Rip Off on 08.12.21 at 12:52 pm

@139 Sara. Thanks for the news reporting. Besides vaccines what other knowledge have you offered besides vaccines? cell.com is a good resource to broaden your understanding of clinical efficacy in covid.

Do vaccines work? Yes. Nevertheless they are not without risk. The idea is to get the T cells to remember and this gives the immune system education in a relatively safe fashion so that the immune system generates IgG and IgM antibodies appropriately. Before vaccines there were individuals in studies where the immune system did not modulate antibodies(cell.com) and consequently some succumbed to covid. Even so, covid is not fully understood.

Some physicians will laugh as will the general public. Again, in addition to vaccines, and possibly lessening clot risk from both vaccines and covid, simple vitamins provide safe efficacy from covid. There is no cure for covid anywhere, simply measures to lessen risk. Likely covid will be around for ten more years. I have spoken with colleagues deployed in the Calgary ICU’s and treatment is hit or miss and ventilators can be dangerous. Perhaps vitamin C could help to reduce lung strain along with enabling many other safety measures in the body? https://journals.sagepub.com/doi/full/10.1177/2164956120934768

Plenty of research on simple vitamins https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7246956/ for Vit D3, and Richard Z Cheng MD.

Perhaps enlarge your scope a bit. Vaccines alone while they help are not the only thing people can be doing. The media is not reporting these things as they should and consequently people are disheartened and afraid. This is NOT helping businesses, the economy or the state of mind of millions of people. Information should empower people mentally and physically, not defeat them.

#145 T on 08.12.21 at 12:59 pm

#140 Peter Fong on 08.12.21 at 12:31 pm
What about people that take vaccines and have permanent damage? Money paid to them can’t fix their health problems they have to live with later. I hope people here do not have long term damage and the cure is worse than the disease.

————

What about the many people that get sick from covid and have long term implications? How about death?

What if they catch covid in a workplace? A bar? An event? Who is liable?

#146 John Doe on 08.12.21 at 1:02 pm

FEDERAL ELECTION COMING!

SEPTEMBER 20.

#147 crowdedelevatorfartz on 08.12.21 at 1:07 pm

@#139 Sara
Re Covid infection and Death rates.

This weeks Economist has an interesting article on the Covid infection and death rates worldwide.

Seems the leading factor for death is… if you live in the third world …you have a better chance of dying.

That being said…..there are other factors contributing to an unusually high US death rate.

Reuters has an excellent article on Obesity, diabetes and the Covid death rate.
The US deaths among Covid patients who are obese and diabetic are off the charts.

Young or old… you have a ten times higher death rate if you are obese and diabetic when you contract Covid.

Unfortunately the US are the world leaders in obesity and diabetes.
Covid is just the icing on the morbidity cake.

#148 Sail Away on 08.12.21 at 1:46 pm

#141 TheDood on 08.12.21 at 12:34 pm

…the underlying message in this instance is that you can drive like an idiot, kill an innocent child, and here’s $50k to go get a new car. For the victims, here’s $30k for your loss. What a pathetic system!

——–

The article said there were no charges in the accident.

Logically, if a child is killed in a fault-free accident, why would insurance pay a monetary settlement to the parents? Loss of a child does not represent economic damage to the parents.

#149 crowdedelevatorfartz on 08.12.21 at 1:49 pm

Just when I though another 40 cel day today in Burnaby was unbearable…..

Sicily gives us the “boot”…..

https://www.reuters.com/world/europe/italian-wildfires-rage-after-49-degree-heat-record-2021-08-12/

#150 Not Fooled on 08.12.21 at 2:02 pm

#129 crowdedelevatorfartz on 08.12.21 at 10:55 am
@#124 Liberals and NDP Economic Failure
“I see gas prices are $1.40 a liter here in GTA. ”

….

Oh and the govt car insurance here ICBC just “reduced” our car insurance rates from $2000 per year to $1700 per year for a “Gold Star Driver” ( no accidents/ claims for 10+ years).

But they removed the ability to sue for bodily injury claims …” no fault” means “no pay” in BC

Just ask these two parents how they feel about getting $28,000 for their baby girl…
The cars that killed her will receive more money for repairs….

***********

These bereaved parents would have received the same compensation (or less) under the previous insurance scheme.

Compensation for the death of a child, or any family member, has always been based on demonstrated loss of income or material support. The parents are still free to sue the drivers involved.

But don’t let facts get in the way of your ideology.

#151 IHCTD9 on 08.12.21 at 2:16 pm

Ahh, the land of 1.7 million dollar homes. Looks like a great family oriented area, providing a high quality of life…

https://www.ctvnews.ca/video?clipId=2257901

#152 Millennial 1%er on 08.12.21 at 2:41 pm

unfortunately the 1/2m dollars I’m making this year is getting taxed. If only it was a gift

at least i dont live in toronto

#153 Planetgoofy on 08.12.21 at 3:08 pm

#150 IHCTD9 on 08.12.21 at 2:16 pm
Ahh, the land of 1.7 million dollar homes. Looks like a great family oriented area, providing a high quality of life…
https://www.ctvnews.ca/video?clipId=2257901
———————————————————
In general North America is in a major decline.
People have lost their senses. The Rule of Law doesn’t exist for most anymore.

#154 left handed stratocaster master on 08.12.21 at 3:16 pm

@T 144 and Fong #140

Your observations are irrelevant. Covid is out and about. Stop wasting time on who is liable and do something to protect yourself. That is what is relevant. Covid is not going away. Its funny the amount of time spent in the media on personal rights, testing and pretty much everything else.

Covid doesnt care. It is a virus. An infectious agent. As typical in medicine, too much time is spent on describing diseases and not enough on actually doing something.

Protect yourself. Get educated: https://www.cell.com/COVID-19

Get vaccinated. If a person is worried about clotting from a vaccine, keep your vitamin D3 and C levels high. That will lessen risk dramatically. And, chances are high that if you clot or experience adverse events from a covid vaccine, multiply that experience hundreds fold, possibly, from actual covid.

If you are like me and have had two doses of a vaccine, Pfizer specifically, and are offered a third, consider taking it. I have experienced more side effects from vitamins and creatine monohydrate than either of the two mRNA jabs that I received. And that should tell you about vitamins also: Vitamins in high doses are drugs, potent agents.

Vitamin D3 and C are your friends, especially during covid.

The comments I read about covid highlight the continual misfocus many people have about covid in general and in life specifically which is appaling.

Fortunately there are experts that know what they are doing.

#155 crowdedelevatorfartz on 08.12.21 at 3:17 pm

@#149 Fooled
“But don’t let facts get in the way of your ideology.”

+++

Thanks.
I wont.
:)

#156 ts on 08.12.21 at 3:23 pm

@#133 Biden is not protecting the US border on 08.12.21

That’s correct. Also adding to the border problem are the drug cartels and violent criminals from various countries that are allowed to cross the border and ICE is not allowed (by Biden’s orders) to arrest any of them. They’re even transporting them (the illegal immigrants) to various states. The question is why? Why is Biden doing this at a time when the country is being decimated trying to contain COVID ? Why is Biden intentionally trying to destroy America?

#157 Nonplused on 08.12.21 at 3:40 pm

#103 Sunshowers on 08.11.21 at 10:46 pm
#74 Nonplused

“I think you missed the part of the article that many of these rental properties are gentrified older buildings which were publicly owned and sold to developers, not new builds.”

Where did you get that? I don’t see it in the article, maybe you can quote it for me I could have missed it.

https://www.zerohedge.com/markets/berlin-vote-confiscating-rental-properties-corporations

I suppose it could be inferred because the unit in question is in East Berlin, and therefore could have been built by the communists. In which case, ya, there probably isn’t anything “gentrified” about the building.

But I am not sure “communism” is a better way to provide housing. Housing shortages are a “feature” of communism, not a bug.

——————————————

“Your whole argument is largely a red herring because the large firms who actually BUILD new rental units tend not to build ones for low to middle income families, as there is more competition with government housing and less profit to be made.”

I don’t know who builds or markets rentals in your town, but around here they are definitely not built for the affluent. I lived in a couple of these purpose built rentals in my time. They are high density, and the target market is not the affluent. The young, students, and low income persons fill the towers and row houses, not the rich. The rich buy a house.

—————————————-

“Seems like the job should be left to an entity to whom the public good is more important than profit.”

Ideally yes. But whom would that be? And what would motivate them?

Right now the city does a fair job but not with their own money; development zoning must include land set aside for parks and schools, but also high density housing. High density housing usually means condos or rentals.

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—————————————–

Supposedly we are supposed to have certain rights, things like water and housing. I think the confusion comes in as to whether things that are “rights” are free. I know my water isn’t. And if I stop paying they will come turn it off. So do I have a “right” to water or not? I certainly don’t seem to have a “free right” to the water delivered to my house.

Likewise I have a “right” to education and health care. But is it “free”? Somebody is paying for it and I know who every time I pay my property or income taxes.

Somebody has to build those rental units. The only question is whether they will be built voluntarily or by conscription.

https://www.zerohedge.com/markets/berlin-vote-confiscating-rental-properties-corporations