The shelter shelter

Poor Gary is 44. “I’m kind of livid about it, to be honest,” he says.

Yeah, being in your mid-forties is inching relentlessly towards eternity. Male pattern baldness. Love handles. Things loosening and falling off in the shower. It’s awful.

And now, of course, the prime minister’s officially embraced ageism, drawing a thick red line between the kids (under 40) and the walking dead. It all comes down to the FHSA.

“Is there a precedent for this kind of thing?” Gary moans. “If I understand correctly, a 38 year old about to buy a house, could put 40k into an FHSA, net the 16k back (assuming a 40% tax bracket)… buy a house at 39… with the money and NOT have to pay the 16k?”

It seems like this is a 16k GRANT only for first-time home buyers… but only under 40 years old. How does this address affordability? A 41-year old (or a 44-year old like myself) has to pay an additional 16k? Can you think of any reason why an age limit of 40? Wouldn’t it make sense to offer this grant (for that is essentially what it is) to ANY 1st-time home buyer?

Okay, so this is reasonably outrageous. It bears revisiting so we all understand on September 20th just what the First Home Savings Account would be, how it works, and the historic financial discrimination it embraces.

The Libs say this:

Young Canadians want the chance to own their home—just like their parents and grandparents did. But higher rent and the increased cost of living are making it harder and harder to afford a down payment.
A re-elected Liberal government will:
*  Introduce a tax-free First Home Savings Account will allow Canadians under 40 to save up to $40,000 towards their first home, and to withdraw it tax-free to put towards their first home purchase, with no requirement to repay it.
Combining the features of both an RRSP and a TFSA, this plan would allow young Canadians to set aside 100% of every dollar they earn up to $40,000 and shorten the time it takes to afford a down payment.

In practical terms this means an employed 30-year-old earning $80,000 could get a loan from the Bank of Mom for $40,000, invest it in her FHSA and (because all contributions are deductible) receive a refund of about $12,000. She could dump that in her TFSA and hold growth ETFs. Ten years later the $52,000 has become $104,000 and she buys a house using it as a downpayment. So forty grand turns into a hundred thousand with no tax payable, plus there was an outright gift of $12,000 from taxpayers. If she has dumped the $12,000 into her RRSP the gift would be even larger, and the withdrawal still tax-free under the RSP Home Buyer’s Plan.

So the FHSA is an age-specific tax shelter offering tax-deductible contributions, free money from the government, taxless growth and non-taxed withdrawals to buy a house that can appreciate and provide untaxed capital gains. In addition, refunds for contributions can be reinvested in another tax shelter for a second refund on the same money. It’s a gift. Anybody under 40 not playing this game has had their cortex fried watching too many Jag TikToks.

More importantly, it would create a potentially vast pool of publicly-subsidized capital which could be used to ensure increased demand for real estate and a further escalation in the price of homes. Oh yeah. As Gary laments, it’s also unfair. So just imagine the impact if the Libs cave to such a valid criticism and make the FHSA available to everybody wanting to purchase a first property. Uppa, uppa.

By the way, if a 40-year-old utterly fails at life and doesn’t buy real estate (the only true measure of adulting) the FHSA loot folds directly into an RSP where it can continue to grow without tax – and still be taken out (up to $35,000, or seventy grand for a couple) at any time for a down payment. This is the only time a retirement savings plan can be plumped up without regard to earned income. That’s a big departure. So is the fact that $40,000 can be put immediately into a FHSA while it would take almost seven years to do the same with a TFSA. For, like, old dying people in their late forties.

In short, outrageous. Discriminatory. Ageist. Non-inclusionary. And it’ll make house prices more stupid.

Meanwhile, the government offering enhanced savings, double-refunds and a fatter, accelerated, fast-track TFSA so young people can swallow crushing debt and inflate real estate is the same one that gutted contributions for folks trying to stand on their own.

Yeah. Livid.

About the picture: “My wife and I bought a slanted Semi in Leslieville in 2017 and turned it into a Triplex,” writes James. ” We rent the basement and main floor apartments and live in the upper 2 bedrooms.  Luckily for us property prices have gone up since we bought and we re happy where we are.  We re just wondering if all the people selling rental units now know something we don’t!  I imagine we will see an increase in property tax coming up as they re asses prices in the coming years. And here is a pic of our family dog, Piney.”

168 comments ↓

#1 Wrk.dover on 09.02.21 at 1:59 pm

I see the Texas Taliban Govt allows open carry of guns by any and all non convicted felons.

Also, I see the Supreme Court of USA has imposed Sharia law on women’s rights.

I thought Canada was the softy nation on integration.

#2 SoggyShorts on 09.02.21 at 2:00 pm

As a 41-year-old with a 40-year-old wife, I too am annoyed.
Where’s my free ~30K Justin?

On an unrelated note, I booked our one-way flights to Mexico…

#3 Phylis on 09.02.21 at 2:02 pm

Home seller to old millennial, hey you have an extra $104k? Fantastic, the price just went up $104k. Who does this really help?

#4 604Sam on 09.02.21 at 2:09 pm

So as an under-40 can I withdraw 40k from my TFSA, dump it in the FHSA, and never buy a house? Just for the sake of getting the refund?

#5 crowdedelevatorfartz on 09.02.21 at 2:15 pm

Ageist rules pandering to todays youth voters …..that will pay for it in higher taxes tomorrow.

Enjoy your youth kids ……because the only thing guaranteed in life is…..you’re aging.

:)

My Telus cell phone is really annoying today with the endless “No service” alerts.

#6 Niagara Region on 09.02.21 at 2:18 pm

Not only is Trudeau’s “under 40” housing policy ageist, it is classist. Most people from working-class backgrounds who earn PhDs in the Humanities and Social Sciences in Canada do so around age 40, whereas middle-class and upper-middle-class people who earn PhDs in these areas do so closer to age 30. The same is likely true of working-class students who become MDs. Such new forty-year-old grads wouldn’t have the resources for a downpayment on a house or for FHSA funds or to have saved RRSP or TFSA money before the age of 40.

#7 Planetgoofy on 09.02.21 at 2:25 pm

Another big doughnut by T2.
He represents the financial illiterate as he is one himself.
For all the financial crutches created by gov. there is always unintended consequence’s. The more they try to make things more affordable the more they are not.

#8 TurnerNation on 09.02.21 at 2:27 pm

I get the impression most Blog Dogs still have the sticker on their back window:
No free riders. Cash , A_s or Grass.

Vaping tax? You guys now getting it? Our rulers Do not want us healthy (why gyms were ordered closed).
They want us weak, helpless and even addicted.
Profit + taxes. Lining up for their endless ‘treatments’ and jabs.
Keep telling yourself, your government loves you.


— Watch your food supply, Is CV being used to reset the world?

https://www.nytimes.com/2021/08/30/business/supply-chain-shortages.html
“A shipping container that cannot be unloaded in Los Angeles because too many dockworkers are in quarantine is a container that cannot be loaded with soybeans in Iowa, leaving buyers in Indonesia waiting, and potentially triggering a shortage of animal feed in Southeast Asia.”

…….
…….
Bank taxes? No worries they will raise banking fees (again) and cut staffing levels. Soon it will be two years of hearing that recording at all large corps – the ones which sucked up CEBA and Wage freebies from tax payers. “Due to Covid you may experience longer wait times” “We are experiencing longer than usual wait times”.
A permanent recording. In Kanada they pretend to pay us, we pretend to work.
—————–

“#69 enthalpy on 09.01.21 at 5:37 pm
we officially live in the twilight zone.
sometimes I feel like this can’t possibly be real.”

^ Yeah buddy this is the New System. Rolled out globally in that cold winter week, March 2020, when we fell – WW3 – for our minds. It ain’t going back.

#9 T-Rev on 09.02.21 at 2:28 pm

And what if I’ve been able to purchase housing without government cheese? Can I still enter the program and take advantage of the RSP boost? And what year is the age cutoff if a guy is 39 going on 40?

All the more reason to never vote liberal/socialist. Government meddling, arbitrarily picking winners and losers.

#10 I’m stupid on 09.02.21 at 2:35 pm

Quick question… I have a 3 year old and a 2 month old. Can I put 40k in both their accounts to grow tax free?

#11 Mark Mywords on 09.02.21 at 2:37 pm

#2 SoggyShorts on 09.02.21 at 2:00 pm

As a 41-year-old with a 40-year-old wife, I too am annoyed.
Where’s my free ~30K Justin?

On an unrelated note, I booked our one-way flights to Mexico…

______________________________________

Sucks to be you, Soggy. But that was true even before the latest Liberal shenanigans!

#12 Ted Mushaf on 09.02.21 at 2:38 pm

“So as an under-40 can I withdraw 40k from my TFSA, dump it in the FHSA, and never buy a house? Just for the sake of getting the refund?”

Absolutely, wonderful. you and your partner, 24K free money instantly

#13 Truth Serum Debate on 09.02.21 at 2:47 pm

Truth Serum Debate

That’s what should be necessary to run for highest office in province and country.

No ear pieces. Drug test for any neutralizers. Either one disqualify you from the race.

I think the era of fake political promises and lies needs to end. Now. It should be declared as fraud to do so.

Would also address the poor tv ratings for debates.

#14 Nat on 09.02.21 at 2:47 pm

Garth please post this in a local newspaper, this needs to be shared.

#15 ElGatoNerodeYVR on 09.02.21 at 2:51 pm

Re: rental landlord. All I know from reliable sources I was able to validate is that here in the sprawling metropolis of Surrey, BC which is where people who actually work for a living and make middle class wages live the property tax bil Itemizes a separate charge for a secondary suite and extra garbage pickup. Sounds fair to me and technically the city should charge extra as more infrastructure is needed.
Of course this information could at some point in the future be forwarded to the CRA ,and it should.
So I am not sure if in other places they do that ,charge extra but it seems that the people think it will happen.
The other possibility is that with the huge run-up in prices people have decided they made their money in capital gains, being a landlord today in Canada sucks anyway so they are cashing out . Smart move if you can afford to do it with this whole anti-landord rhetoric ; where there’s smoke there’s fire.
No elitist anti-Surrey jokes please ,while I don’t live there I used to and still have family and friends there and I can guarantee it is not the place that Vancouverites who haven’t left their subdivision in decades think it is. I said this before this is like saying Vancouver is defined by Hastings at Cordova .

#16 alexinvestor on 09.02.21 at 2:51 pm

It would be interesting to see what happens with married couples. Can you still put money into this even if your spouse owns a house ? Seems like you would be able to in order to be consistent with the people with existing accounts who got married to someone with a house.

#17 Dolce Vita on 09.02.21 at 2:54 pm

It’s not only outrageous it’s dumb.

Kids hurting for cash have to save so only the ones that make good coin now will be able to take advantage of it.

It’s not a NOW solution, it takes time so that implies the misery continues on for years.

Basically a fail:

1. Only the well to do kids will make it work.
2. Not timely, years as the misery grinds on.

Forget about the equity issues, practically it’s just plain DUMB.

No brains. All show, no go. Just like Justin during the campaign.

#18 XGRO and chill on 09.02.21 at 2:57 pm

Reading between the lines, if you didn’t buy a home before age 40, you were never gonna do it anyway.

According to the Liberals, at least.

#19 Rainman on 09.02.21 at 3:00 pm

It seems the government will always find a way to plump real estate. Tell me I’m wrong.

#20 Dolce Vita on 09.02.21 at 3:05 pm

Herd Immunity…

IMPOSSIBLE to reach even with high vaccine uptake.

You’re going to catch it. I’m going to catch it. It seems inevitable whether in the UK, US or wherever you are.

Even if vaxd you can get it and transmit it on.
[though vaxd low likelihood you end up in hospital or the morgue]

-Prof Andrew Pollard, Oxford vaccine team

Well explained in: “Important announcement” by UK Doc Campbell, Aug 31, about 15 min:
https://youtu.be/JhRb5hnTseU

Coles Notes, Immediate Gratification versions, not of Doc Campbell, of the Oxford Prof study:

https://www.theguardian.com/world/2021/aug/10/delta-variant-renders-herd-immunity-from-covid-mythical
https://www.standard.co.uk/news/uk/delta-coronavirus-government-liberal-democrat-b950068.html
https://www.telegraph.co.uk/news/2021/08/10/delta-variant-has-wrecked-hopes-herd-immunity-warn-scientists/

——————–

Waited a couple of days to let you all know. Had to think it thru. Decided to throw it out there and let you all do your own thinking.

Ya. It blew me away sort of…long expected herd immunity to be unattainable. The inevitable part, hard to reconcile with.

#21 SunShowers on 09.02.21 at 3:07 pm

Somebody just needs to take one for the team and pass a bill that makes owning single family homes solely to be rented out as income properties so burdened with punitive taxes, that nobody wants to do it.

Rents would go ballistic. What on earth are you thinking? – Garth

#22 Dave on 09.02.21 at 3:13 pm

Both parties have it wrong on housing. They will both increase prices with their ill conceived policies. There was a study by Revenue Canada that found rich migrants made more than 90 percent of purchases of the luxury homes in Vancouver municipalities while declaring refugee level incomes. It took 5 years after a freedom of information request for this to be released. The level of corruption and incompetence in the country is astounding.

#23 Dave on 09.02.21 at 3:14 pm

“Somebody just needs to take one for the team and pass a bill that makes owning single family homes solely to be rented out as income properties so burdened with punitive taxes, that nobody wants to do it.

Rents would go ballistic. What on earth are you thinking? – Garth”

They have gone ballistic, thanks in part to REITs
https://policyoptions.irpp.org/magazines/june-2021/the-rise-of-financial-landlords-has-turned-rental-apartments-into-a-vehicle-for-profit/

#24 Millennial Realist on 09.02.21 at 3:14 pm

Catch the news?

Philadelphia, New York, subways, turnpikes and thousands of trucks and cars underwater today.

Welcome to the climate future.

We can’t delay making dramatic changes to our economies, taxation and wealth disparities and how this all is destroying our environment.

https://globalnews.ca/news/8161725/in-photos-ida-floods-subways-new-york-philadelphia/

Be part of the change.

Or be flooded by it.

#25 Nonplused on 09.02.21 at 3:15 pm

The Liberal plan under Trudeau seems to be to divide society into as many special groups along superficial characteristics as possible, pit them against each other, and then develop specific programs for each of them. In other words everything in the charter has now become grounds for discrimination if there is some perceived inequity in outcome that can be quantified statistically.

To refresh:

“3 (1) For all purposes of this Act, the prohibited grounds of discrimination are race, national or ethnic origin, colour, religion, age, sex, sexual orientation, gender identity or expression, marital status, family status, genetic characteristics, disability and conviction for an offence for which a pardon has been granted or in respect of which a record suspension has been ordered.”

This FHSA is definitely discrimination based on age, but the perverse Trudeau logic is that anything that “levels” a perceived “playing field” and reduced “inequity” is anti-discrimination even if you have to discriminate to do it. “Equality” be damned. Some people are more equal than others.

Young people have always had a harder time buying houses than older people. They have had less time to develop their careers and save. This new program isn’t doing anything to “level” the playing field, but instead giving a distinct advantage to the younger players. It’s like giving the younger team the wind for both halfs of the game.

We can see other examples of policies based on superficial characteristics but I won’t go into too many of them for fear of being cancelled. I’ll just mention Trudeau’s policy of having a 50/50 split in his cabinet based on gender despite his party electing not nearly that ratio to parliament. Women had a clear advantage to be considered for cabinet that was not based on merit. That is clear discrimination based on gender, despite it being sold as designed to level some sort of playing field. If it were based on merit you would expect the ratio of female cabinet members to be roughly the same as the ratio of female parliamentarians. How is that not discrimination? The criteria used was one of the things mentioned in the act as unusable.

So that example bears a further question; why isn’t Trudeau insisting half the liberal candidates be women? Why not push this policy down to the riding level? Why only the cabinet?

Anyway I better stop now before I get deleted or stir up a storm in the comments.

#26 Prince Polo on 09.02.21 at 3:17 pm

Piney the dog for PM! Nice doggie.

#27 ogdoad on 09.02.21 at 3:18 pm

“Yeah, being in your mid-forties is inching relentlessly towards eternity. Male pattern baldness. Love handles. Things loosening and falling off in the shower. It’s awful”. – Hey, speak for yourself…45, abs, cool hair, jog 40kms per week and just landed a tailwhip on my son’s scooter – you wanna buy a sports car? Be my guest…but the hotties are looking at me, sorry…I can empathize though…free hugs, today only.

As for Gary – dude, time for some re-invention, perhaps. Accept and start loving where you live, start taking vaca’s to places where they DO and, for god’s sake, wake up!!

Og

#28 Nonplused on 09.02.21 at 3:19 pm

#21 SunShowers on 09.02.21 at 3:07 pm
Somebody just needs to take one for the team and pass a bill that makes owning single family homes solely to be rented out as income properties so burdened with punitive taxes, that nobody wants to do it.

Rents would go ballistic. What on earth are you thinking? – Garth

——————————–

Alternatively Blackrock would buy them all up. I guess rents would still go ballistic, but it would be one more opportunity lost to the 99% and reserved for the rich.

Laws are funny things. They have to apply to everybody or they don’t work. “All men are equal under the law” sort of thing.

#29 Shawn Allen on 09.02.21 at 3:27 pm

Texas Taliban

#1 Wrk.dover on 09.02.21 at 1:59 pm
I see the Texas Taliban Govt allows open carry of guns by any and all non convicted felons.

Also, I see the Supreme Court of USA has imposed Sharia law on women’s rights.

******************************
My thoughts exactly. Texas sounds like a great place to never ever visit.

Was it Ophra who said something about things won’t change until a bunch of old white men die off. (And I think the implication was, the sooner the better.) Politically incorrect but true. Does not apply to ALL old white men of course. (And present company surely excepted)

#30 Russ on 09.02.21 at 3:28 pm

Hey TN.

“TurnerNation on 09.02.21 at 2:27 pm

I get the impression most Blog Dogs still have the sticker on their back window:
No free riders. Cash , A_s or Grass.”

In my day, maybe late 70s methinks, it was similar but a little diff on order.
Popular on T-shirts too
“Cash, Grass or Ass. Nobody rides for free.”

A buddy had a motorbike with a red circle & slash with large woman silhouette in background, on his bike. Also popular in the day

He missed out. If you can keep a large girl laughing in the evening, there is a very good chance you will have a great time and something to remember.

Cheers, R

#31 TurnerNation on 09.02.21 at 3:30 pm

New slogan in T2’s Kanada? Don’t trust anyone over 40?
Today’s Leslieville Slanty Semi Millionaire squats in only two bedrooms. Unbridled luxury. Kids this could be you too with a FHSA.

— Here is comes, goalposts’ weekly move. Get ready for the Economic Lockdowns.
Maybe this time they will have us begging for the UBI – in 2022?

.COVID-19 vaccination rate must rise above 85% to avoid fall lockdown, Ontario modelling shows (cbc.ca)

…..
…..
Control over our travel/movements would you expect any less? How are those shots working out?

.Sweden becomes second EU country to ban Israelis
https://www.jpost.com/breaking-news/covid-sweden-becomes-second-euro-country-to-ban-israelis-678541

—Control over breeding?
Our elite rulers must be roaring with laughter; they’ve convinced us that breathing is a crime.
Don’t you dare try dating, kissing or anything normal.

https://www.cbc.ca/news/canada/montreal/mcgill-professors-students-protest-school-measures-1.6161076
“McGill University’s fall semester kicked off with a protest this morning, with several students and staff gathering on campus to demand stronger health measures and more options for remote learning.”
“In other indoor spaces, masks and one-metre distancing are both mandatory. When students take their masks off to eat, drink, work out or sing, two metres’ distance is required.”

#32 SunShowers on 09.02.21 at 3:34 pm

“Rents would go ballistic. What on earth are you thinking? – Garth”

I was thinking it would be easier than simply making owning single family homes solely to be rented out as income properties illegal, but I’d be open to that option as well if you think punitive taxes wouldn’t be enough to force landlords to sell.

Only downside is that now we have to find a way to carve out exemptions for people like those pesky MPs who need to have digs in Ottawa and also their riding.

Heck, while we’re at it maybe we can throw the bougies a bone and carve out an exemption for cottages too.

#33 mike from mtl on 09.02.21 at 3:43 pm

Makes my head hurt, why this goofy account? Just increase the existing RSP home buyer thing or better yet double the yearly TFSA contribution room. Unless gifted the real problem I would expect the youngins have is getting the tens of thousands in the first place.

Assume the CRA actuaries ran the numbers and are not overly concerned with a bunch more accounts rotting with GICs.

#34 mark on 09.02.21 at 3:45 pm

but but but Trudeau said that only rich people can afford to put money in a tfsa!!! didn’t he???so this is to help rich people buy a house??

#35 BC Doc on 09.02.21 at 3:47 pm

Isn’t this a “regressive” benefit too?
The rich young guys that Trudeau already hates (doctors, dentists, lawyers, vets) get a bigger tax refund than lower income people who are paying a relatively lower maximum marginal tax rate.
BC Doc

#36 Sail Away on 09.02.21 at 3:47 pm

#1 Wrk.dover on 09.02.21 at 1:59 pm

I see the Texas Taliban Govt allows open carry of guns by any and all non convicted felons.

Also, I see the Supreme Court of USA has imposed Sharia law on women’s rights.

———

Yes, Texas women can open carry as well.

Abortion’s always going to be controversial since it is, in actuality, killing someone.

So… avoid death at all costs (vax fanatics), or allow people to decide if they want to kill someone (right to choose). Often the same person has both beliefs. Confusing!

#37 Shirl Clarts on 09.02.21 at 3:51 pm

What would stop anyone age 39 (today), who already owns a house, has maxed out their RRSP room, from dumping 40K into a new FHSA regardless, and just let it roll into their RRSP on their 40th Birthday, with no intention of buying a “First Home”?

I see this as free contribution room. Aren’t the wealthy – aka “Justin’s People” – going to be the first to exploit this Loophole? Watch out, Jagmeet! New Loophole coming!

#38 Overheardyou on 09.02.21 at 3:52 pm

Here’s some tips for fellow millennials on how to buy your first home:
– Stop buying things you don’t need
– No vacations especially international ones
– If you don’t need a car, forego one
– Live with parents to save money
– Don’t ask or whine, actions matter more

This will take a decade if not longer so be patient and invest accordingly.

#39 Cheese on 09.02.21 at 3:58 pm

As a dude who just turned 40, I am beyond livid.

I think its high time for some civil disobedience.

#40 S on 09.02.21 at 3:58 pm

To some today’s article might sound like an accidental endorsement of the Liberal Party of Canada. If implemented, this program would appeal not only to the young voter but also to the older generation fearing for their kids who may never be able to own a paid off house.

#41 45north on 09.02.21 at 4:00 pm

And now, of course, the prime minister’s officially embraced ageism, drawing a thick red line between the kids (under 40) and the walking dead. It all comes down to the FHSA.

This is favouritism. Basically the “First Home Savings Account” means that one group pays for another group’s housing.

The details are complicated and they work to the advantage of the Liberal Party. I’m thinking of an all-candidates meeting where someone makes the point that the “First Home Savings Account” is unfair. The Liberal candidate who is reasonably briefed, can simply talk out the time. The details are too complicated for ordinary people.

The counter argument is that there should be a level playing field for everybody. The government should not force one group to pay for another group’s housing.

#42 Yukon Elvis on 09.02.21 at 4:02 pm

#36 Sail Away on 09.02.21 at 3:47 pm
#1 Wrk.dover on 09.02.21 at 1:59 pm

I see the Texas Taliban Govt allows open carry of guns by any and all non convicted felons.

Also, I see the Supreme Court of USA has imposed Sharia law on women’s rights.

———

Yes, Texas women can open carry as well.

Abortion’s always going to be controversial since it is, in actuality, killing someone.

So… avoid death at all costs (vax fanatics), or allow people to decide if they want to kill someone (right to choose). Often the same person has both beliefs. Confusing!
++++++++++++++++++
Or you could move to San Francisco and be paid not to kill people.

https://www.foxnews.com/us/san-francisco-pay-people-not-shoot-gun-crimes

#43 Buy Low Sell High on 09.02.21 at 4:05 pm

I would hope that this discriminatory idea will be vigorously challenged prior to becoming approved. What about all the first time home buyers who are north of 40, such as Moi? What’s in it for me? W I I F E

This is only but one single issue in the Liberal platform that will be cause me to punt them! (not that I voted for these scoundrels last time lol!)

#44 Moose on 09.02.21 at 4:12 pm

@#24 Millennial Realist.
The Arabic peninsula was covered in grass, lakes and wildlife.
Now it is a wasteland.
What happened thousands of years ago? pollution?

I do however agree that we need to clean up our planet.

#45 Jenna on 09.02.21 at 4:13 pm

Garth,

Get this information out into the media (beyond this terrific blog).

Trudeau needs to go….disgraceful.

What happened to the Canada…were you participated in the workforce….bought a house…raised a family or not. Life was satisfying !!

Canada is now the home to citizens who are generational slaves to debt. Sad Politics !!

#46 Quintilian on 09.02.21 at 4:21 pm

It’s a brilliantly diabolical plan.

Some will buy into it, and it works out to be real vote getter.

Prices will get a boost from the artificially induced demand, making the lazy boomers exited, and enamored all over again.

One thing is certain, regardless of which party gets elected, an orderly soft landing of the housing market is out of the question.

Tick Tock, Tick Tock

#47 yvr_lurker on 09.02.21 at 4:35 pm

#23 Dave
They have gone ballistic, thanks in part to REITs
https://policyoptions.irpp.org/magazines/june-2021/the-rise-of-financial-landlords-has-turned-rental-apartments-into-a-vehicle-for-profit/

———

Bingo. Yes, this is a real emerging problem that will impact the affordability of rental apartments in an increasingly clear way going forward. Has the potential to transform the rental market into an oligopy in some areas where a few firms buy up all the rental stock (the Yukon, NWT, and other smaller markets where there is no alternative). Gov’t needs to control this in a serious way; Montreal seems to be a leader in putting in some controls.

I don’t believe for a minute that there will be much if any benefit to renters by this financial domination of the rental stock by REITS. Their goal will be simply to milk these units to extract higher and higher profits. There will be no need to do renos or repairs on the property once an oligopy is established.

#48 Nonplused on 09.02.21 at 4:40 pm

For Faron:

https://www.oftwominds.com/blogsept21/magical-green-energy9-21.html

#49 BillyBob on 09.02.21 at 4:45 pm

Well, I’m not wasting any time lamenting this orgy of hypocrisy and idiocy, instead I just filled in my mail-in ballot today. Spoiler alert: it wasn’t a Liberal vote.

Strangely satisfying for something so inconsequential. But hey, we all have to do our little part. No matter where we are in the world.

#anythingbutTrudeau

#50 yorkville renter on 09.02.21 at 4:45 pm

#40 Mark

YES! good one… will anyone point this out to JT? probably not; thus, your great point will never see the light of day

#51 crowdedelevatorfartz on 09.02.21 at 4:47 pm

@#39 Cheese
“I think its high time for some civil disobedience.”

++++

The anti-vaxx Covidiots beat you to it.

#52 SoggyShorts on 09.02.21 at 4:47 pm

#32 SunShowers on 09.02.21 at 3:34 pm
“Rents would go ballistic. What on earth are you thinking? – Garth”

I was thinking it would be easier than simply making owning single family homes solely to be rented out as income properties illegal, but I’d be open to that option as well if you think punitive taxes wouldn’t be enough to force landlords to sell.

*************************
But landlords make living more affordable…
I LOVE being subsidized and having zero responsibilities for the properties where I’ve lived.
If in the very long run my LL makes a profit, who cares? He’s made my life better.
What’s the alternative? Everyone MUST buy a home? Yuck.

Not everyone wants to be a homeowner

#53 NOSTRADAMUS on 09.02.21 at 4:47 pm

COUGH,GASP, COUGH, MOMMEEEE, I CAN’T BREATHE.
Many speculators are lucky that when they started out speculating, they weren’t strangled in their cribs. The only thing that saved them , zero interest rates. Now, with interest rates about to climb their friendly banker, will suddenly develop a blank stare as his eyes begin to glaze over. Quietly, on tippy toes he approaches the sleeping speculator with a comforting pillow. Nighty, night, sleep tight. Mommy, mommeeee, Cough, gasp, cough, I can’t breathe. Many sayings apply to what we see before our eyes today ,sayings such as “Success has many fathers, and failure is an orphan. I suspect before very long a lot of baby speculators will become orphans . I am on my throne and I will not step down.

#54 Planetgoofy on 09.02.21 at 4:48 pm

I’ve just been solicited by the NDP by email and phone.
As I watch Jag dance around on the tube…OMG if that gets votes it really shows there no hope for Kanada.
I told them to look at Venezuela. That’s were we could go in 5-10 with his or T2s wonderful fiscal policies.
Enjoy the gong show…

#55 Sail Away on 09.02.21 at 4:50 pm

#38 Overheardyou on 09.02.21 at 3:52 pm

Here’s some tips for fellow millennials on how to buy your first home:

– Stop buying things you don’t need
– No vacations especially international ones
– If you don’t need a car, forego one
– Live with parents to save money
– Don’t ask or whine, actions matter more

——-

So complicated. If a house is your dream, just move to the US and buy one.

Move to Texas for the added benefit of open firearm carry. If you want an abortion in Texas, though, it has to be within the first 6 weeks, so a quick drive to Oklahoma might be in order. Pot an armadillo on the way for two kills in one trip.

#56 Paul on 09.02.21 at 4:51 pm

#18 XGRO and chill on 09.02.21 at 2:57 pm
Reading between the lines, if you didn’t buy a home before age 40, you were never gonna do it anyway.

According to the Liberals, at least.
Zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

Many years ago my father give me his best advice be established by 40 and god only looks after you till 50 then you are on you own.

#57 zxcvbnm on 09.02.21 at 4:51 pm

Miss me with the “ageist” whine. Not a peep from you when the CBC refuses to hire people based on the colour (or lack thereof) of their skin. I don’t see how this is any different. Perhaps you old people have had it good for long enough and should make way for other’s less fortunate, right?
No sympathy.

Old people over 40? (I sure see a number of BIPOC folks on CBC, by the way.) – Garth

#58 cramar on 09.02.21 at 5:05 pm

Wasn’t the Libs who said that the Con’s TFSA yearly contribution of $10k was an excessive perk for the wealthy? Wasn’t it JT campaigning yesterday saying the Cons and NDP are handing out perks to everyone just to get elected? Talk about calling the kettle black! And he was the one who painted his face black. I smell a lot of stinking red hypocrisy here.

#59 Another Deckchair on 09.02.21 at 5:11 pm

The FHSA??

It’s a boom for boomers without savings – take from the millennials and give to the boomers. Not bad for the wealthy boomers, either!

Markets always optimize to get the most $$ out of the clients. (which means, minimum wage will be hand-to-mouth, no matter what the actual $$ figure is)

Millennials – be part of the change,

or be forced into a lifetime of servitude from it.

#60 Scott on 09.02.21 at 5:18 pm

I mostly agree that it’s ageist but OAS and GIS should be considered ageist as well.

Just about every thing is something “ist”

If a true UBI were introduced there would still be some that found it to be “classist” since those that are well off would lose half of it via tax and the poor would get to keep nearly all of it. Some would deem it “racist” or “sexist” because it would no doubt help certain groups disproportionately.

I’d go after the plan for being a horrible idea that will continue to make housing unaffordable for the average Canadian, rather than turn it in to generational warfare.

#61 LesserApe on 09.02.21 at 5:25 pm

By the way, if a 40-year-old utterly fails at life and doesn’t buy real estate (the only true measure of adulting)…

Damn, I founded a multi-million dollar business and retired in my 40s, all before I owned any real estate.

Just can’t get no respect from these boomers…. :)

#62 Another Deckchair on 09.02.21 at 5:26 pm

A bonus post. For free!

When I was just out of university in the early 80s, making bucks, I thought “I’ll never be as wealthy as my parents. They were sooo lucky. My generation will be broke forever.” (I’m a young “boomer”)

Somehow, with very mediocre savings with a spend-it partner until close to the age of 40, my then-new partner and I put our efforts into living beneath our means.

Neither of us were ever “high earners”, but listening to people like Garth, watching where the $$ went, and just not buying anything without discussing it with each other, 20 or so years later we have more coming in than we ever thought possible. At this point, it’s not worth working; we get “paid” to do whatever we wish. We actually get “paid” quite well to not work.

Did it hurt not spending every penny that came in? At first, yes, but you quickly get used to living on a bit less, just as you get used to living on a bit more when you get a pay raise from work.

If anybody is still reading this and is (say) 30s and younger, PLEASE ensure that you find out for yourselves what the magic of compound interest for savings actually is by trying it.

#63 Faron on 09.02.21 at 5:29 pm

#36 Sail Away on 09.02.21 at 3:47 pm

Interesting that you clarified that women fall into the category “any and all”. Derp. Real genius there bud.

So you have erroneously confused pro choice and pro vax. That’s also interesting. Show us your data.

Fun fact: the vaccine virtually prevents death. Presemce of guns increases risk of death. Abortion bans do very little to reduce abortion (they displace it and make it less safe) and, in fact, increase the likelihood of poor health outcomes in women. So, by being full of gun totin’ (also increases risk of death) anti vaxxers (more death), Texas has made itself hostile to women’s health and life in some cases (death³). Derp.

All this to drive wedges into the electorate so the poor among the conservatives will vote against their economic best interests which is what is actually at play here. It’s virtually certain that some “Pro Life” Texas lawmakers are also dabbling in some or multiple forms of hypocrisy along those lines because, again, these issues help line their pockets or those of their constituents. Wedge issues like guns and abortion get the plebes to vote for agendas that benefit the rich. Mountains of evidence for all of this.

Interstingly, I bet this gives the Liberals in Canada some ammo by making conservative drift look as idiotic as it actually is.

#64 That guy on 09.02.21 at 5:30 pm

#1 Wrk.dover on 09.02.21 at 1:59 pm
I see the Texas Taliban Govt allows open carry of guns by any and all non convicted felons.

Also, I see the Supreme Court of USA has imposed Sharia law on women’s rights.

I thought Canada was the softy nation on integration.

———————–
You mean like how we let sex selective abortions occur, because we don’t value female lives? Thanks, but the prolife side has more to offer than you realize.

#65 Woke up this morning... on 09.02.21 at 5:31 pm

How much more do you need to see to know this is all orchestrated by any current sitting government, as none want to crush this huge component of the Canadian economy and none want to reduce the property and land transfer tax revenue they count on.

Slowdown in Real Estate? Q2 Canadian economy shrinks!

Remember when they said we would eventually make nothing? Well, we have arrived. We won’t even pick our crops – need slave labour from poor countries to do it. I cannot even imagine the hit to Canadian economy of housing stalls.

And The Queen still owns the land these precious little houses are on. Mow the lawn and before you get a fine and pay permit fees if you want to change or improve anything with “your” property. Hahaha.

#66 Faron on 09.02.21 at 5:39 pm

#48 Nonplused on 09.02.21 at 4:40 pm

For Faron

Sorry bud, I’ve wasted enough time on your musings on green energy. Your belief in US election fraud was a tell. Continuing a debate with blogged opinion pieces further detracts.

#67 Chappy on 09.02.21 at 5:40 pm

I’m 49. Can I take Trudeau to the human rights commission on the basis of Ageism?

#68 Ponzius Pilatus on 09.02.21 at 5:40 pm

#150 Yukon Elvis on 09.02.21 at 11:21 am
China’s government banned effeminate men on TV and told broadcasters Thursday to promote “revolutionary culture,” broadening a campaign to tighten control over business and society and enforce official morality.
President Xi Jinping has called for a “national rejuvenation,” with tighter Communist Party control of business, education, culture and religion. Companies and the public are under increasing pressure to align with its vision for a more powerful China and healthier society.
The party has reduced children’s access to online games and is trying to discourage what it sees as unhealthy attention to celebrities.
————————
Yep,
XI (she) is taken a small “leap forward”.
Hope it moves in the right direction and does not become a giant one.
We have relatives in China, who went through the last one, and they don’t relish going through another one.
Having said that, China is having a big Internet/gambling addiction  problem.
And they consider addiction a mental weakness, not a disease.
So, I can see where Xi’s  coming from.
Personally, I think a similar law would be beneficial for Canadian society, too.
Wait, says the libertarian, this should be the job of the parents, not the Gubernment.
I say, half of the parents are addicted, too.
And it takes a village (community) to raise a child.

#69 TMac on 09.02.21 at 5:43 pm

At this point after hearing the Liberal platform and daily campaigning, I am pretty sure it is just Justin in a room with some people scouring social media and seeing “what the kids are saying”.
I guess I am a boomer now since I missed this boat by a single year.
Hopefully we get adults back in Ottawa this round.

#70 Sail Away on 09.02.21 at 5:46 pm

#10 I’m stupid on 09.02.21 at 2:35 pm

Quick question… I have a 3 year old and a 2 month old. Can I put 40k in both their accounts to grow tax free?

——–

Probably a joke question… but the answer is no. Registered accounts can only be held by those who have reached the age of majority.

#71 Chalkie on 09.02.21 at 5:47 pm

Not sure how you do your Math Justin to Justify your decisions like this, one thing for sure, I know our age difference is over 20 years, but our schools would have been teaching different Math, there is dumb and there is dummer, but you have went in the bracket of dummest.
What comic book, do you get your ideas from?
Sounds like another stunt like you just discriminated against the seniors citizens, the $500 payment, you had to be 74 years, go “figure” I guess 65 to 73 years old, we are not Senior citizens.

#72 Linda on 09.02.21 at 5:49 pm

I guess the Liberals believe that those past age 40 have either already purchased RE so wouldn’t be ‘first time’ home buyers. Or that if those folks aged 40+ haven’t yet purchased RE they are obviously never going to do so. In the end it is all about securing votes. Since RE ownership is apparently the goal for all young beavers, easiest way to get those voters to put their ‘X’ beside the Liberal slot is to offer them a way to get their RE faster. Geezers past 40 need not apply.

#73 Ponzius Pilatus on 09.02.21 at 5:56 pm

Move to Texas for the added benefit of open firearm carry. If you want an abortion in Texas, though, it has to be within the first 6 weeks, so a quick drive to Oklahoma might be in order. Pot an armadillo on the way for two kills in one trip.
—————-
this could be the first salvo in the assault on Roe&Wade.
I can’t get pregnanttubut my wife has an opion on it.
And probably millions of others, too.
I think any party that goes further with this, will wither in the desert forever.

#74 crowdedelevatorfartz on 09.02.21 at 5:57 pm

@#57 disslecksick
“Not a peep from you when the CBC refuses to hire people based on the colour (or lack thereof) of their skin.”

+++
Dyslexic?
Are you color blind as well?

Ian Hanomansingh ? Andrew Chang? Nahlah Ayad?
Do any of these National News Presenters ring a bell?

#75 Matt W on 09.02.21 at 5:57 pm

Best to buy in now if you haven’t. After 10 years, prices will be up way more than $104k. Way more demand for units needed vs low supply being built. Where’s the housing crash guy been?

#76 Yorkiefan on 09.02.21 at 6:10 pm

What happens if you deploy your 40k but then fail to purchase housing at age 40 and have no RRSP room to roll the money into?

New room is created. – Garth

#77 Do we have all the facts on 09.02.21 at 6:29 pm

Set the issue of buying a house aside wealthy parents could ‘give’ their son and daughter in law $80,000 with an agreement that 50% of total income tax savings in year one and 50% of tax exempt income earned until withdrawal would be returned to the parents in a brown envelope.

The under 4O couple could eventually purchase a house once prices return to realistic values but in the meantime a significant portion of the initial $80,000 gift would be repaid to the parents exempt from taxes.

I would like an opinion from a tax lawyer as to how the Government of Canada could prevent parents from reducing their investment portfolio by $80,000, gifting the funds to their son or daughter and spouse, and then receiving a regular tax exempt benefits under the table in return.

#78 Human Rights? on 09.02.21 at 6:41 pm

#67 Chappy

I’m 49. Can I take Trudeau to the human rights commission on the basis of Ageism?

—————

Human rights? You want HR?

Maybe if you’re in Quebec you have a chance.

Otherwise…human rights are given and taken away at the whim of ethical politicians.

#79 My Body My Choice on 09.02.21 at 6:46 pm

Gary shouldn’t worry too much because the Liberals aren’t going to win.

Even if they do, they lie and break their promises so they’ll probably forget about the housing crisis and focus mostly on the 4th and 5th waves and getting 3rd and 4th jabs into people’s arms.

#80 Heather on 09.02.21 at 6:48 pm

Yeah, I agree. That’s unfair. But so is the tax free child benefit while OAS is taxed. Governments don’t make decisions based on fairness. They are made based on the votes they want to get. Fairness be damned.

#81 fishman on 09.02.21 at 6:49 pm

Ponzius: Please! No more of these tired woke tropes on here. It doesn’t take a village to raise a child. It takes a mother & father.

#82 Adam on 09.02.21 at 6:56 pm

You’re looking at this the wrong way Garth. All that money given to the under-40 crowd will flow right back into the hands of the rich. See, where as 80 year old Ol’ Mary Brown would have sold her bungalow for $1.5 million dollars, instead she will now get $1.6 million dollars for it. You know this to be true. Let’s put it another way… imagine if the government tomorrow announced a “$300 a month renter bonus”. All renters get $300 extra per month. Guess what? Rent just went up $300. Eventually they will get it back. Really there is no way to give money to young people that won’t have it flow right back to the wealthy. Why? Because wealthy people are wealthy for a reason.

#83 My Body My Choice on 09.02.21 at 7:00 pm

#29 Millennial Realist

“Was it Ophra who said something about things won’t change until a bunch of old white men die off. (And I think the implication was, the sooner the better.) Politically incorrect but true. Does not apply to ALL old white men of course. (And present company surely excepted)”

Garth: why did you allow this bigoted, racist, ageist comment?

Write the above phrase but replace the word “white men” with black, brown, native, chinese, asian, muslim, or woman and the Internet would explode with outrage. You would be arrested by the hate crime police, but somehow it’s acceptable because it’s “old white men?”

WTF is going on?

#84 My Body My Choice on 09.02.21 at 7:02 pm

Sorry Millennial Realist, it should have read #29 Shawn Allen.

#85 crowdedelevatorfartz on 09.02.21 at 7:05 pm

@#68 Ponzies Political Potentate Pal

“So, I can see where Xi’s coming from.
Personally, I think a similar law would be beneficial for Canadian society, too.”

++++

It’s good to know you admire a dictator of 1.3 billion people.

Personally I loathe the politically correct milksops we currently have as “leaders” in the Western Democracies
However I think ANY person in China would love the ability to toss out their leadership when they have been in power too long and start to smell.

Like our current “leadership”….. hopefully gonzo in less than 3 weeks and with any luck he’ll drag the Finance Minister Bobblehead Doll with him.

#86 crowdedelevatorfartz on 09.02.21 at 7:16 pm

@#83 My Body
“WTF is going on?”

+++

Us “old white men” have been called much much worse.

Speaking of Oprah.

She’s been called out herself for chumming around with the like of Harvey Weinstein…

https://www.buzzfeednews.com/article/ellendurney/rose-mcgowan-called-oprah-fake-for-weinstein-friendship

Never forget Oprah is a billionaire Talk Show Host who will say and do ANYTHING for ratings…..

Thats why she’s a billionaire….and I’m not.

:(

#87 S.Bby on 09.02.21 at 7:19 pm

haha heard radio ad for Jagmeet (yes I listen to radio):
“(soft mushy background music playing) my biggest influence in my life is my mom, I want a country were we can all afford homes and the ultra-rich pay their fair share of taxes”. Is ultra-rich anyone earning over $100,000? I think he said something about daycare as well. He wants to give everyone a hug.

#88 Sara on 09.02.21 at 7:27 pm

#36 Sail Away on 09.02.21 at 3:47 pm

Abortion’s always going to be controversial since it is, in actuality, killing someone.

So… avoid death at all costs (vax fanatics), or allow people to decide if they want to kill someone (right to choose). Often the same person has both beliefs. Confusing!

===============
Are you trolling or do you actually believe what you wrote?

#89 ImGonnaBeSick on 09.02.21 at 7:28 pm

#66 Faron on 09.02.21 at 5:39 pm
#48 Nonplused on 09.02.21 at 4:40 pm

For Faron

Sorry bud, I’ve wasted enough time on your musings on green energy. Your belief in US election fraud was a tell. Continuing a debate with blogged opinion pieces further detracts.

—–

I think you might be jumping the abortion there… The blog post nonplused referenced has some valid solutions that should be implemented to help reduce wastes… it should be right up you alley (everyone’s really)…

Tldr; “The incentives must change from “waste is growth” to hyper-efficiency, conservation, right to repair and manufactured objects engineered to last a generation or longer and be recyclable at scale.”

#90 Phylis on 09.02.21 at 7:30 pm

#39 Cheese on 09.02.21 at 3:58 pm
As a dude who just turned 40, I am beyond livid.

I think its high time for some civil disobedience.
Xxxxxxxx
Not to worry, ideologically, I identify as 37. Join me.

#91 AM in MN on 09.02.21 at 7:32 pm

#29 Shawn Allen on 09.02.21 at 3:27 pm
Texas Taliban

#1 Wrk.dover on 09.02.21 at 1:59 pm
I see the Texas Taliban Govt allows open carry of guns by any and all non convicted felons.

Also, I see the Supreme Court of USA has imposed Sharia law on women’s rights.

******************************
My thoughts exactly. Texas sounds like a great place to never ever visit.

Was it Ophra who said something about things won’t change until a bunch of old white men die off.

———————————————————

Then don’t visit there! Have you ever been there?

I’m sure there are plenty of people there who would be happy if you don’t visit.

How exactly does any of this affect either of you? Were you planning to go there and have an abortion?

What neither of you understand is that this is how the Elites co-opt the left (and their media) into making you vote based on things that just don’t matter, and then end up wondering how the country ends up over its head in debt and 90% of the population a bunch of tax slaves and debt serfs (you included).

Your choice, but I stay focused on things that affect me and my family far into the future.

#92 George S on 09.02.21 at 7:35 pm

Back in about 1982 when we bought our first house there was a first time homebuyer grant of up to $3000 when you purchased your first home. It worked out to be a 10% downpayment on our $30k house that we bought. Interest rates were something like 16% and then they went up against all predictions. I don’t think people thought about ageism back then but I imagine it would have been considered to be some sort of -ist.
This current scheme is similar in cost and will net people around about a similar portion of the cost of their first home. It is, however, ageist, and shouldn’t be.

It makes more sense than the newly prohibited “assault” rifle buyback scheme. Buying guns owned by restricted firearms license holders with a daily criminal records check who are required to keep them in secure storage to keep smuggled in American handguns out of the hands of street gang members.

How about UBI? does it make sense to all you in the financial world?

It is interesting out in the country where I live that you see Maverick party signs and almost no other. The conservatives know that they are going to get 80% of the vote without campaigning, the liberals know that they are going to get 0% of the vote no matter how much they campaign, the NDP is hopeful in the cities but the way the ridings have been gerrymandered they lose. I think there is some support for the PPC. The Maverick party and the PPC should siphon off the lunatic fringe of the conservative party so at the next policy convention they can move back to being Progressive Conservatives and maybe in the next election take back some of the right leaning liberal vote.

#93 Faron on 09.02.21 at 7:45 pm

#73 Ponzius Pilatus on 09.02.21 at 5:56 pm

…two kills in one trip.

I think any party that goes further with this, will wither in the desert forever.

Sadly, you are very misguided Ponz. The land of “good people on both sides”, ivermectin, Jan 6th and QAnon has an incredibly deep well of blind, fundamentalist idiots to stoke. You need look no further than the antivax rally in Vancouver yesterday and people like Sail Away who would be anti vax excepting business reasons to see that this kind of “thinking” is growing rapidly in Canada.

#94 More laws solve everything on 09.02.21 at 7:48 pm

#21 Sunshowers

Somebody just needs to take one for the team and pass a bill that makes owning single family homes solely to be rented out as income properties so burdened with punitive taxes, that nobody wants to do it.

Rents would go ballistic. What on earth are you thinking? – Garth
***************************************

They are thinking the way all lefties think, which is that you can just make a law to make illegal everything that they don’t like, and that there will be no consequences.

And when the consequences show and make the situation worse, their answer is another law, and another one, to infinity.

The great example is the communist countries attempt to control prices:

-They make a law capping prices below the market rate
*producers immediately decrease quantity with smaller packages
-new law bans reduction in quantity
*producers reduce quality
-new law bans quality reductions and introduces massive bureaucracy to inspect and measure every single item produced
*producers cut salaries, fire staff
-new law……well you get the picture.

Which is why when you went to Czechoslovakia back in the day every single restaurant had the exact same menu, with the same portions and prices, as that was the only way to monitor and control their prices.

Now apply that to every industry in a country and you can see why price controls are always doomed to failure, as are the economies that impose them.

You can’t change human nature, so stop trying already. You’ve had 100 years, it doesn’t work.

#95 Too Bad on 09.02.21 at 7:49 pm

Millennial Realist, too bad you did not visit any of those cities.

#96 Faron on 09.02.21 at 7:54 pm

#68 Ponzius Pilatus on 09.02.21 at 5:40 pm

I say, half of the parents are addicted, too.

Yep, nailed it. China’s recognition of this problem is going to be a massive win if they can find a workable solution.

#48 Nonplused on 09.02.21 at 4:40 pm
For Faron:

Further, I’d never argue that any green transition will not be massively challenging. What is worthy of discussion is how to overcome that challenge rather than blatantly discarding and naysaying any attempts to do so.

#97 Barb on 09.02.21 at 7:55 pm

Piney looks happy, James.

If “optimum/maximum use” rules ever come into being (which has been discussed by local governments), your property will be fine…fully occupied. Your local government may even give you a credit for doing so.

#98 Ponzius Pilatus on 09.02.21 at 7:56 pm

#81 fishman on 09.02.21 at 6:49 pm
Ponzius: Please! No more of these tired woke tropes on here. It doesn’t take a village to raise a child. It takes a mother & father.
———
So, you school them at home?
Or what happens when the mother for some reason is no longer around?
You gonna quit your job to raise them?

#99 david on 09.02.21 at 7:58 pm

This is pure ageism. But expect more of that in the coming years to keep the bubble from exploding.

Moving rates would blow up the entire economy so the government(s) will multiply the policies targeting people here and there to try to maintain the status quo.

Of course that will create overhead, extra costs and not make people live better.

#100 Male, pale and frail on 09.02.21 at 7:59 pm

#29 Shawn Allen

“Was it Ophra who said something about things won’t change until a bunch of old white men die off. (And I think the implication was, the sooner the better.) Politically incorrect but true. Does not apply to ALL old white men of course. (And present company surely excepted)”
++++++++++++++++++++++++++++++++

The same Oprah who was best buds with known sexual predator Harvey Weinstein?

Check out what Rose McGowan has to say about Oprah. It’s pretty brutal.

So yeah, that sounds exactly like something a person of the moral character of Oprah would say.

#101 Birthing people on 09.02.21 at 8:03 pm

I thought men were able to give birth now?

So we are also allowed to comment on abortion, right?

Or is it the usual ‘don’t take anything we say seriously, we’re just gaslighting as usual’ from the wokesters?

#102 Lead Paint on 09.02.21 at 8:07 pm

I was pretty irate about this but then remembered my wife is under 40. Definitely won’t vote liberal regardless! I hate all these complicated vote buying exceptions that grows even bigger armies of bureaucrats and accountants. A pox on them all.

#103 Planetgoofy on 09.02.21 at 8:29 pm

#24 Millennial Realist on 09.02.21 at 3:14 pm
Catch the news?
Philadelphia, New York, subways, turnpikes and thousands of trucks and cars underwater today. Welcome to the climate future.
We can’t delay making dramatic changes to our economies, taxation and wealth disparities and how this all is destroying our environment.
Be part of the change.
Or be flooded by it.
—————————————-
Yup storms are nothing new, 6 out of the 12 worst in USA were 50 PLUS years ago and you attribute that to what?
Have you been to Asia, especially China? Maybe your ruining your environment but don’t count me in. I own a lot of timber so I guess I’m the solution?
Ya can’t even blame Ford for the Galveston Hurricane.
Your flapping your gums.
Do yourself a favor and visit China. They could care less.
Turn Canada OFF and it doesn’t even move the needle. lol

https://www.bobvila.com/slideshow/the-worst-storms-on-record-ever-to-have-hit-the-united-states-53038

#104 Lead Paint on 09.02.21 at 8:33 pm

#55 Sail Away on 09.02.21 at 4:50 pm

I don’t agree with much of what you write, but damn, you are entertaining. Start a blog. You gotta Twitter handle?

#105 The Ministry of Silly Socks on 09.02.21 at 8:34 pm

The rich win again. To say Canadians are “financially illiterate” is a depressing understatement.

#106 Steven Rowlandson on 09.02.21 at 8:41 pm

“Rents would go ballistic. What on earth are you thinking? – Garth”

Wouldn’t it kill demand? If rents are unaffordable and homes are unaffordable couldn’t people simply run away and live in tents, cabins, caves, cars or under bridges?
It is cheaper….

#107 Shawn Allen on 09.02.21 at 8:45 pm

Intergenerational Wealth Transfer in Reverse

#82 Adam on 09.02.21 at 6:56 pm
You’re looking at this the wrong way Garth. All that money given to the under-40 crowd will flow right back into the hands of the rich.

*************************
Sounds right. Successful young people who make decent incomes and don’t get GST rebates or most of the other transfers are paying the shot for that large percentage of older people who are paying little or nothing in net taxes. Then they get to transfer a huge pile to some old fogey if they want a house. (Unfortunately, I am not in a position to sell my house else I might join the party). And not all of these will ever inherit much. And rich people tend to live longer so any inheritance will come around the time the “kids” are retired.

The fabled intergenerational wealth transfer is not happening — except in reverse. In my own case I am now retirement age and hope my parents continue to live and spend their money. I am just a neutral observer in this.

#108 Another Deckchair on 09.02.21 at 8:51 pm

Hey @74 Fartzie;

“Ian Hanomansingh ? Andrew Chang? Nahlah Ayad?
Do any of these National News Presenters ring a bell?”

From an “in-law” relative who worked CBC TV News way back about 30 years ago, Ian Hanomansingh was asked to “make his name a bit more, you know, um… Canadian”.

Next news segment, he signed off “Stuart Hanomansingh” and was seemingly never hinted to change his name again. 2nd hand from a CBC News worker (reporter) at that time, for what that’s worth. :-)

#109 Shawn Allen on 09.02.21 at 8:52 pm

#83 My Body My Choice on 09.02.21 at 7:00 pm
#29 Shawn Allen

“Was it Ophra who said something about things won’t change until a bunch of old white men die off. (And I think the implication was, the sooner the better.) Politically incorrect but true. Does not apply to ALL old white men of course. (And present company surely excepted)”

Garth: why did you allow this bigoted, racist, ageist comment?

****************************
Does it ease your pain if I tell you I am now a card-carrying member of the “old white men” club? Also Oprah Winfrey has already been condemned for her view on this. Also can a view be racist and ageist and also true?

#110 The good ship Lollipop on 09.02.21 at 8:55 pm

#24 Millennial Realist on 09.02.21 at 3:14 pm
Catch the news?

Philadelphia, New York, subways, turnpikes and thousands of trucks and cars underwater today.

Welcome to the climate future.

We can’t delay making dramatic changes to our economies, taxation and wealth disparities and how this all is destroying our environment.

https://globalnews.ca/news/8161725/in-photos-ida-floods-subways-new-york-philadelphia/

Be part of the change.

Or be flooded by it.

_____________________________________

I absolutely agree. Cause, like … nothing like this has ever happened before.

Explain to the less “endowed” aboard “the good ship Lollipop” blog how these changes will fix everything, oh wise one! Not that it matters to me cause I’ll have cashed all my chips in by then anyway.

#111 Out Of Work CEO, Will Travel on 09.02.21 at 9:05 pm

The French debate on TVA is a shocker of GREAT NEWS for Conservative leader Mr. O’toole as he is ripping up the stage with his confidence; presence; demeanor; delivery and excellent French. It is a real eye opener as Quebec probably expected a real “dodo bird” but he is the shiny new thing who can gab Trudeau off the stage with his fabulous but understated delivery. Trudeau is polished and has easier access to French but Mr. O’toole doesn’t hesitate and is credible in contrasting the better choice for Quebecers being Conservative. Funny, Block leader Mr. Blanchett is his usual outraged and dramatic self is not able to disturb the vibe Mr. O’toole is working.

#112 Barb on 09.02.21 at 9:06 pm

PLUS word has it that O’Toole’s proposed adjustment to child care subsidy could cost a family $1,000 vs. $200 under the Libs.

I can’t find the document now.
But please…Conservatives…rethink that.

#113 Vancity Clay on 09.02.21 at 9:21 pm

Truly astounded by the hypocrisy of Garth and many of the other Turner gang followers. There has always been age based discrimination in this country.. but 9/10 it favors the old.. Why is nobody complaining about OAS.. discounted/free public transit, discounts on Ferry Services, Provincial property tax loans @ NIL or 1%, the provincial seniors supplement, SAFER – shelter aid for Elderly Renters.. and GOD only know that us young taxpayers subsidize seniors who use the lions share of medical services.

Is the FHSA good policy, no.. is it fair.. no… but neither are any of the other aforementioned programs… especially considering boomers hold 75%+ of the wealth in the country

#114 Ponzius Pilatus on 09.02.21 at 9:21 pm

#49 BillyBob on 09.02.21 at 4:45 pm
Well, I’m not wasting any time lamenting this orgy of hypocrisy and idiocy, instead I just filled in my mail-in ballot today. Spoiler alert: it wasn’t a Liberal vote.

Strangely satisfying for something so inconsequential. But hey, we all have to do our little part. No matter where we are in the world.
———–
No spoiler alert. Was expected.
If you did not vote for Trudeau, which party would a progressive, intellectual, snappy uniform and snazzy socks wearing, walking down the terminal with one gorgeous blonde stewardess on each arm, Captain of the Sky, vote for?
Can only be the Sozis, or if he is guilty for burning up too much jet-fuels, the Greens?
Oh, I forgot there’s Maxi, a favorite of the blog dogs.
BTW, where in the world is Billy Bob?

#115 crowdedelevatorfartz on 09.02.21 at 9:21 pm

@# 108 Deckchair
“From an “in-law” relative who worked CBC TV News way back about 30 years ago, Ian Hanomansingh was asked to “make his name a bit more, you know, um… Canadian”.

++++

Was that when he was hosting CBC TV in Halifax?
All the girls used to call him “Handsome man thing”.

#116 Shawn Allen on 09.02.21 at 9:24 pm

Voting and Self Interest vs wider Interest

#91 AM in MN on 09.02.21 at 7:32 pm figures I should mind my own business about Texas and their new abortion ban (after six weeks) telling me I am a tax slave and a debt serf and:

“Your choice, but I stay focused on things that affect me and my family far into the future.”

*******************************
Well your approach is fair enough. More power to you. But some of us have opinions based on what we think is right as opposed to just what is in our own self-interest. For me, truth and what is right must always trump self-interest. Texas appears to be a weird old fashioned place. Its own demographics will change that before too long. The old guard will indeed die off.

#117 Sunshowers on 09.02.21 at 9:35 pm

#28 Nonplused on 09.02.21 at 3:19 pm
“Alternatively Blackrock would buy them all up.”

Lol yes, please Blackrock, please buy up all the houses which not only are you now legally forbidden to rent out, but will eventually be sold to homeowners for less than the price you paid for them.

“All men are equal under the law”
That’s not true under capitalism. Under capitalism, this quote is more appropriate:
“The law, in its majestic equality, forbids rich and poor alike to sleep under bridges, to beg in the streets, and to steal loaves of bread”

52 SoggyShorts on 09.02.21 at 4:47 pm
“Not everyone wants to be a homeowner”

Good thing practically every flavor of socialism includes a robust, well funded, and desirable social housing plan, available to all except perhaps the top 10% of earners. You think you like being “subsidized” by a landlord? Wait until you get subsidized by the government.

#118 Maxima on 09.02.21 at 9:43 pm

My daughter is 36 and married. She worked for 10 years as an Engineer. I helped previously with education , but never gave out a loan to her. She didn’t like to pay the banks’ interest so she figured out mathematically how she could pay her new $604,000.00 home she bought 7 years ago within 5 years. She paid her house off within 5 years. Then she bought a new car, paid that off and now she’s a full time mother. I think if one is really focused on a goal, it can be achieved.

#119 Nonplused on 09.02.21 at 9:45 pm

#89 ImGonnaBeSick on 09.02.21 at 7:28 pm
#66 Faron on 09.02.21 at 5:39 pm
#48 Nonplused on 09.02.21 at 4:40 pm

For Faron

Sorry bud, I’ve wasted enough time on your musings on green energy. Your belief in US election fraud was a tell. Continuing a debate with blogged opinion pieces further detracts.

—–

I think you might be jumping the abortion there… The blog post nonplused referenced has some valid solutions that should be implemented to help reduce wastes… it should be right up you alley (everyone’s really)…

Tldr; “The incentives must change from “waste is growth” to hyper-efficiency, conservation, right to repair and manufactured objects engineered to last a generation or longer and be recyclable at scale.”

————————————–

Maybe he didn’t read it?

#120 Kothar on 09.02.21 at 9:48 pm

Liberal voters are too stupid to even understand how this will work!

#121 OwlEyes on 09.02.21 at 9:51 pm

They’re being true to form. People may have forgotten this “bespoke” purchase of votes with our money:
$1200 for each child under six ($600 if your family Net income is over $120k). So if your family only nets $50k and you have a seven-year-old you don’t need (obviously) as much as a family netting $1million who has a five year old. (!!!!!!!)

https://www.canada.ca/en/revenue-agency/services/child-family-benefits/ccb-young-child-supplement.html

#122 crowdedelevatorfartz on 09.02.21 at 10:08 pm

@#113 Vancity clayfeet
“especially considering boomers hold 75%+ of the wealth in the country”

++++
The Boomers’ secret?

They’re old…..and the older you are the longer you have to save money.

A radical concept…..but if YOU start saving now when you’re young…..when you’re old….you’ll probably be rich.

#123 KrisTea on 09.02.21 at 11:17 pm

Mad? I was. So, 2 days ago, I sent an email to the liberal party about ageism. Did you?
Squeaky wheel gets the attention. It’s what keeps politicians wheels rolling…and remember…it works for us all…there IS power in numbers. Make your voice heard.

#124 Sail Away on 09.02.21 at 11:18 pm

#93 Faron on 09.02.21 at 7:45 pm

You need look no further than the antivax rally in Vancouver yesterday and people like Sail Away who would be anti vax excepting business reasons to see that this kind of “thinking” is growing rapidly in Canada.

——–

Huh. Interesting that you single out a lawful protest and a fully vaxed, upstanding pillar of the community as problems in Canada.

Were you around when people were stealing flags, burning churches and destroying historical artifacts?

I think those ones, you know- the actual criminals, may have been of the leftist persuasion.

#125 Sail Away on 09.02.21 at 11:29 pm

#104 Lead Paint on 09.02.21 at 8:33 pm
#55 Sail Away on 09.02.21 at 4:50 pm

I don’t agree with much of what you write, but damn, you are entertaining. Start a blog. You gotta Twitter handle?

———

Thanks! No twitter for me. Heck, it’s all I can do to post the occasional comment here.

#126 IHCTD9 on 09.02.21 at 11:42 pm

People are just piling into Texas right now. Almost 700k since 2011 just from California alone, and very few are leaving.

No one gives a rip about abortion laws anymore, it’s true. Trudeau learned this just recently…

#127 the Jaguar on 09.03.21 at 12:04 am

@ “#81 Fishman on 09.02.21 at 6:49 pm
“Ponzius: Please! No more of these tired woke tropes on here. It doesn’t take a village to raise a child. It takes a mother & father.”++++++++++

An interesting exchange (Fishman being correct as always), because it illustrates very well the pickle we find ourselves in. Never mind Covid, climate change, exits from and failure to launch in war torn countries. Floods, riots and insurrection, debates about whether Jeffrey Epstein is really still alive and squirreled away from prying eyes in order to avoid the mass indictment of sacred cows, or a multitude of other conspiracy theories. Cast aside even our own ‘so very Canadian election debacle’ which seeks to imitate a previous age and pastime known as ‘Burlesque’. Seems a certainty that our current PM has the ‘pasties’ in his tickle trunk of costumes, so who knows how that will turn out.
We might have to give O’Toole the nickname “Seabiscuit”.

https://www.youtube.com/watch?v=WVT2MPNCqgM

Some time ago, while visiting a country under a communist government and complaining at a humble reception desk about some lack of service or amenity, I looked into the steely and resigned gaze of the hotel employee and was told “When it is no one person’s responsibility, it is no one’s responsibility”. It was an epiphany of sorts. Put another way, this said ‘close ranks to avoid personal responsibility’, ‘safety hiding in numbers’, and everything it leads to which is invariably societal decline delivered on a platter devoid of personal responsibility. As a ruffian like myself might put it, “Nobody gives a sh_t”.
Look around you. Drugs, decay, poor labour quality, Band Aid solutions for real world problems.

Whether it’s the mantra of ‘It takes a Village to raise a child”, or some other clap trap at the end of the day it’s just a dodge. Personal responsibility is the only way through any crisis. Doesn’t mean it can be achieved on a team basis, but without that understanding and commitment one is just hiding in the ‘tall grass’.
Take it from a Jaguar. It’s a jungle out there, and Darwin was right about some things…. Amen.

#128 Ponzius Pilatus on 09.03.21 at 12:11 am

#126 IHCTD9 on 09.02.21 at 11:42 pm
People are just piling into Texas right now. Almost 700k since 2011 just from California alone, and very few are leaving.
———————-
Just wait until Abbot and Cruz are finished legislating the State back into the Middle Ages.

#129 SoggyShorts on 09.03.21 at 12:12 am

#117 Sunshowers on 09.02.21 at 9:35 pm
#28 Nonplused on 09.02.21 at 3:19 pm
52 SoggyShorts on 09.02.21 at 4:47 pm
“Not everyone wants to be a homeowner”
—————

Good thing practically every flavor of socialism includes a robust, well funded, and desirable social housing plan, available to all except perhaps the top 10% of earners. You think you like being “subsidized” by a landlord? Wait until you get subsidized by the government.

*******************
Have you seen the government-subsidized housing in those communist countries?! Not even if I was paid to live there. “Well funded and desirable available to 90%” my ass. Pure fantasy. You can keep your communism, thanks.
The government can’t even properly sell weed, you think they can run something like housing?
Insane.

#130 Faron on 09.03.21 at 12:39 am

#119 Nonplused on 09.02.21 at 9:45 pm
#89 ImGonnaBeSick on 09.02.21 at 7:28 pm
#66 Faron on 09.02.21 at 5:39 pm
#48 Nonplused on 09.02.21 at 4:40 pm

Was turned off by the title, but gave it a glance later. I was at first pleased to see the arguments about efficiency and closed loop resourse use. We are all in agreement there and that’s a fantastic starting point. But then the author trotted out the same tropes Nonplused leans on and, well, there’s nothing new or of worth there IMO. See my second comment on the matter above.

#131 IHCTD9 on 09.03.21 at 1:21 am

#29 Shawn Allen on 09.02.21 at 3:27 pm

Was it Ophra who said something about things won’t change until a bunch of old white men die off. (And I think the implication was, the sooner the better.) Politically incorrect but true. Does not apply to ALL old white men of course. (And present company surely excepted).
———- –

That’s pretty funny. Gun ownership in the USA has bounced between 37-47% for the last 50 years, so obviously the “old white guys” who died off in the 80’s-2020’s didn’t dent the ownership rates much.

In fact, 2021 will see near 45% thanks to surging 1st time gun owner sales. Whites, blacks, Asians latinos, Republican, Democrat, Men, and especially Women. Women accounted for nearly 50% of all gun sales between 2019-21.

Oprah is a good example of someone whose predictions you should never believe, because she is unable to think properly. She is not intellectually honest, and runs from facts that don’t put dollars in her bank account. She has a devoted following who have very high expectations on what should be coming out of her mouth. There’s absolutely no way she can be honest on the gun file.

You actually want the truth? Gun sales are going to stay the same. Just one look at why the surging recent 1st time buyers decided they needed a gun will tell you that. Google up the number one reason Americans buy a gun, and then look at the unrest over the last few years.

Maybe even up, even after the “old white guys are dead”. She’s dead wrong, and even my Cat could have figured that out. Folks of all stripes like guns just fine – they believe they need a gun, and they own guns. Not just “old white guys”.

#132 Nonplused on 09.03.21 at 1:31 am

#117 Sunshowers on 09.02.21 at 9:35 pm

The part I don’t understand is how you figure banning people or corporations from owing rental properties and renting them out, or instituting some sort of tax regime which effectively does the same thing, will have any sort of affect on the number of occupied homes in the country. Will houses magically appear if it is forbidden to rent them out? Who will buy them? If someone who is currently renting instead buys a house and moves there, how is there an additional house available for occupancy?

And as Garth has shown time and time again, landlords often subsidize the monthlies for renters. How does it help these renters to force them to buy at higher monthly costs?

To address the housing shortage, where it exists (no housing shortage in YYC), is to build more houses. Fiddling with the financial treatment of the existing housing stock isn’t going to produce one single more habitable dwelling. In fact, it could make it worse as the would-be landlords aren’t going to be building anything. Right now they do, although not typically single family units.

#133 Joe Lalonde on 09.03.21 at 5:43 am

It appears PM Trudeau broke the laws again with his Pierre Trudeau Foundation seat waiting for his butts return.

https://thepostmillennial.com/trudeau-potential-ethics-probe-pierre-elliott-trudeau-foundation

#134 Steven Rowlandson on 09.03.21 at 7:16 am

“The law, in its majestic equality, forbids rich and poor alike to sleep under bridges, to beg in the streets, and to steal loaves of bread”

Operationally that turns out not to be the case as I sleep in my car and had a beggar ask me for some change to buy a coffee at 5 AM this morning and in terms of income and cash in pocket I am almost a beggar myself inspite of having some work in addition to my assets which are constantly being knee capped by the manipulated markets. The law, private sector and social programs are useless when it comes to solving the problems of poverty and homelessness because it avoids dealing with the problems of dishonesty and greed in society. Being dishonest and greedy pays therefore you get more of it plus its consequences.

#135 Keen Reader on 09.03.21 at 7:38 am

Good debate last evening, no knockouts and all leaders did reasonably well. It’s unlikely that anyone was able to steal faithful voters from their competition, however I expect that the BQ and Cons will inherit roughly equally the many disillusioned folks ditching the Libs.

Justin slightly surpassed my expectations, stuttering and stumbling 90% less than usual; he normally does well when fighting back when cornered.

Jagmeet spoke really well in French and came across as a warm, personable leader, but did not convincing sell his platform. JY seemed strongest overall, but a bit too arrogant and combative. Anamie was not part of the debate.

Erin’s French was OK. He was unflappable, acted prime-ministerially, but was evasive on answers. His repeated “we have a plan for that” became a bit of a running gag. Debaters, the presenter and viewers repeatedly laughed upon hearing it again, which wasn’t a good sign. Still, he showed more compromise on many subjects, including a much-more nuanced approach to vaccination, something many lurkers here could learn from… I think he gained the most overall, given his relatively low starting point in Québec voters’ minds.

For myself, Vote Compass puts me closest to the Cons and the Bloc. Leader-wise, the BQ leader came ahead in this first debate. My local BQ candidate is also stronger than the Con candidate, plus the riding is likely voting BQ again. Unless something major changes, I’m likely voting BQ again, and definitely not for the Libs; I suspect that many people in Qc will do the same.

#136 Do we have all the facts on 09.03.21 at 8:06 am

As I understand current political thinking borrowing hundreds of billions dollars when interest rates were low was essential to protect the quality of life of Canadian citizens. Once the current crisis passes the massive debt will be retired using revenues generated from future economic growth.

The obvious problem with this line of thought is that productivity within Canada has been declining for years and the current government seems intent on punishing key contributors to future productivity and economic growth.

Canada needs to encourage, not discourage, investment in innovation, research and development. We need to overhaul our current regulatory environment to encourage investment in Canadian companies so that they can increase productivity and become more competitive.

Have a look where Canada stands on the issue of productivity within the 38 members of the OECD, hint; it is not near the top.

With less than three weeks before we elect a new Federal government rational discussion over the true state of the Canadian economy has yet to emerge. Lots of promises about future revenue gains but no details about how that might be achieved other than increased taxation.

Improving productivity has become an important political issue within our primary trading partner to the south and measures are being initiated to stimulate increased investment in economic growth. In Canada our current government seems intent on spanking the institutions, corporations and individuals critical to increasing future productivity.

This is definitely not the time for spanking Canadians that hold the resources necessary to stimulate economic growth within Canada. Trying to retire our massive debt by taxing away potential investment capital is equivalent to fertilizing your garden with bleach.

Just one citizens opinion for what it’s worth!

#137 crowdedelevatorfartz on 09.03.21 at 8:44 am

@#133 Joe Lalonde

Interesting.

Scandal #4 ?
Let’s refresh our memories.

The all expenses paid Aga Khan island vacation.

The SNC-Lavalin vs. Attorney General(Jody WR) interference debacle.

The We Charity “family and friends” payments.

and now another Charity (in Daddy’s name) where donations ( 100’s of 1000’s of $$$$$) pour in from chinese businessmen, etc etc etc .

What does it take for these people to realize the optics of their “mistakes”?

Do they even realize they are doing anything wrong?

Will the media even question him on this latest stumble?

Vote accordingly.

#138 Dharma Bum on 09.03.21 at 8:49 am

So, the PM PM has created a Shelter Shelter.

Binky Barnes was right all along.

Who knew?!

Binky is my new hero.

#139 Charity Scandals on 09.03.21 at 9:06 am

The charity scam by politicians is so unimaginative.

JT should just have his wife or kids draw some pictures and sell them for $500,000 each.

#140 Dharma Bum on 09.03.21 at 9:06 am

#24 Millennial Realist

Philadelphia, New York, subways, turnpikes and thousands of trucks and cars underwater today.

Welcome to the climate future.
——————————————————————————–
Pffffffft.

Big deal. it’s only water.

Fludd Schmudd. Worried? Get a boat.

Seems to me that the establishment has been warning humans about imminent catastrophic flooding for thousands of years.

In fact, there is a very very popular work of fiction – a fantasy novel of sorts – written by some creatively imaginative people a long time ago.

In it, there’s a story of an invivsible man in the sky that talks to a guy called Noah, and warns him about a big nasty flood that’s coming. I guess because of climate change, or something. Or was it man’s evil ways? Anyhooo, Noah builds a big boat to save the future of humans and animals, while the bad people perish.

So, I guess the flood warnings are still around, just like that fictional children’s book with its fairy tale stories.

But if you believe it, get a boat.

#141 SunShowers on 09.03.21 at 9:15 am

#129 SoggyShorts on 09.03.21 at 12:12 am
“Have you seen the government-subsidized housing in those communist countries?!”

Yes, they’re better than the government-subsidized housing in capitalist countries.
https://www.youtube.com/watch?v=LVuCZMLeWko

#132 Nonplused on 09.03.21 at 1:31 am
“The part I don’t understand is how you figure banning people or corporations from owing rental properties and renting them out, or instituting some sort of tax regime which effectively does the same thing, will have any sort of affect on the number of occupied homes in the country.”

If it suddenly becomes extremely unprofitable to own single family homes for the purpose of renting them out, landlords will immediately move to sell them. This will create a large supply surge of single family homes on the market.

Demand will likely decrease a bit as well, as landlords and investment firms will no longer want to buy (the recent CRA scrutiny of flippers helps here too), leading to big price declines, bringing single family homes back into price range of people who actually want to live in them.

#142 Quintilian on 09.03.21 at 10:09 am

#135 Keen Reader:

[Erin], acted prime-ministerially, but was evasive on answers. His repeated “we have a plan for that” became a bit of a running gag.

Exactly what one would expect from a conservative.

#143 Calgary Rip Off on 09.03.21 at 10:32 am

At 49 Im stronger at 208 lbs than I was at 250 at age 19. Balding, yes. That is a consequence of DHT. DHT is androgenic and increases strength. Too bad its not anabolic. Last wednesdays workout consisted of a warmup of 335×4, 405×5, 475×3, 495×2, 505×2 deadlifts. Rows: 335×5, 345×5, 345×6.

Today is rep day. Probably do 385×15 reps on squats, low bar and bench 225×14 reps.

No drugs. Just lots of vitamin D3.

Men get middle aged due to emotional demands of women and maladaptive coping patterns by drinking alcohol which is estrogenic. I save my money and dont drink alcohol.

I remain vaccinated and non ivermectin promoting.

Currently around $300k on the rip off mortgage in Calgary. Housing remains a rip off. Everywhere for rentals and mortgages. Fortunately in Calgary there is no flooding or tornados. For now.

I am not voting for the arrogant Trudeau. And not voting for Jason Kenney’s party.

#144 Jane Finch on 09.03.21 at 10:50 am

Can we reject the impulse to follow the abortion distraction in Texas and focus on what Trudeau hasn’t done for Canada? Certainly Liberals have every reason to change the subject, we don’t.

#145 NutBar on 09.03.21 at 10:58 am

You want to see how the left lunacy is getting worse. San Francisco wants to start paying up to $500 a month to not shoot anyone in their own community. What I am asking is such low value. Why is it only $500 a month? These lefties, socialists, marxists, communists really are mentality disturbed.

These so called criminals probably make that in a day or two in their criminal activities. I guess getting paid to not shoot someone still does not pay.

#146 Ponzius Pilatus on 09.03.21 at 11:00 am

Poor America,
Floods, hurricanes and Afghanistan.
And to top it off, poor job numbers.
Poor Biden, how long will he last?

#147 Andy on 09.03.21 at 11:14 am

Looks like JT crushed the opposition in last night’s debate. This will dampen both the Bloc and any Con votes in Quebec. Libs will probably win more seats there.

Isn’t politics fun….

#148 Mehling on 09.03.21 at 11:15 am

https://www.bnnbloomberg.ca/trudeau-tumbles-further-behind-conservative-freight-train-1.1647688

‘Trudeau tumbles further behind Conservative ‘freight train’

One can dream.

#149 ImGonnaBeSick on 09.03.21 at 11:24 am

#143 Calgary Rip Off on 09.03.21 at 10:32 am
At 49 Im stronger at 208 lbs than I was at 250 at age 19. Balding, yes. That is a consequence of DHT. DHT is androgenic and increases strength. Too bad its not anabolic. Last wednesdays workout consisted of a warmup of 335×4, 405×5, 475×3, 495×2, 505×2 deadlifts. Rows: 335×5, 345×5, 345×6.

Today is rep day. Probably do 385×15 reps on squats, low bar and bench 225×14 reps.

No drugs. Just lots of vitamin D3.

Men get middle aged due to emotional demands of women and maladaptive coping patterns by drinking alcohol which is estrogenic. I save my money and dont drink alcohol.

I remain vaccinated and non ivermectin promoting.

Currently around $300k on the rip off mortgage in Calgary. Housing remains a rip off. Everywhere for rentals and mortgages. Fortunately in Calgary there is no flooding or tornados. For now.

I am not voting for the arrogant Trudeau. And not voting for Jason Kenney’s party.

—-

Heh.. what? Dude.. I enjoy working out too, but are you lost? What a bizarre brag post for a finance blog…

#150 Sail Away on 09.03.21 at 11:28 am

Well, the ballot is mailed. Figures the Libs would set Sept 20, when every reasonable birdhunter will be living in their tipi.

The Green incumbent is a friend who usually gets my vote, but this time, there’s a serious structural issue that he has no juice to fix.

Cons it is. Go O.

#151 Yukon Elvis on 09.03.21 at 11:37 am

#146 Ponzius Pilatus on 09.03.21 at 11:00 am
Poor America,
Floods, hurricanes and Afghanistan.
And to top it off, poor job numbers.
Poor Biden, how long will he last?
+++++++++++++++
Consider the alternative. Kamala Harris as president? Who will she appoint as VP? Nancy Pelosi? Maxine Waters? Al Sharpton? AOC ?

#152 Planetgoofy on 09.03.21 at 11:38 am

125 Sail Away on 09.02.21 at 11:29 pm
———
Occasional?
Good one Sail :-)

#153 IHCTD9 on 09.03.21 at 12:01 pm

#128 Ponzius Pilatus on 09.03.21 at 12:11 am
#126 IHCTD9 on 09.02.21 at 11:42 pm
People are just piling into Texas right now. Almost 700k since 2011 just from California alone, and very few are leaving.
———————-
Just wait until Abbot and Cruz are finished legislating the State back into the Middle Ages.
———

Don’t think so Ponzie. The abortion file is much less a lightning rod today than in past decades. Both sides have cooled down, and the protest groups thereof keep getting smaller. CBC has an article on this new law featuring a pic from a larger protest from over 5 years ago, and not in Texas…

Most international immigrants landing in Texas are from Mexico, and you’re just not going to find a lot of support for loose abortion laws from these folks. The Cali migrants might give the issue some lip service, but it obviously ain’t travesty enough to keep them from moving right in, and buying that cheap Texas sfd.

My guess is getting a cheap house will trump getting loose abortion laws in 99% of those living in or heading for Texas, and this will likely be a permanent situation going forward.

#154 crowdedelevatorfartz on 09.03.21 at 12:01 pm

@#142 Andy Hardy

“Looks like JT crushed the opposition in last night’s debate.”

++++

Yes.
I have it from unnamed sources that Trudeau’s handlers had a remote controlled zapper located somewhere on his body next to his skin.

If he said “ummm”, “errrr”, “ahhhh” even once….

200volts!

He shows well in front of the cameras doesn’t he?

#155 WTF on 09.03.21 at 12:02 pm

#67 chappie I’m 49. Can I take Trudeau to the human rights commission on the basis of Ageism?

Yes, you can, the politically appointed commissioner and minions are happy to fill their docket thus ensuring a caseload to suggest their relevance, since you are paying for this kangaroo court….err tribunal feel free to avail yourself of their somewhat nebulous mandate.

We do however have a functioning legal system, this tribunal is for those who have no case and which would be considered frivolous.

#156 Dr V on 09.03.21 at 12:53 pm

143 CRO – my numbers were never that heavy, maybe 10-20% less on squats and deadlifts. I cut back after
the birth of my second child, and the last time I went anywhere near heavy was at about 47. One knee had
worn out in my late 30s, so I turned to cycling for rehab. At my strongest I was about 200, and my doctor told me to lose weight as my pulse and BP were a bit high. Lost maybe 10 pounds and that dropped both.

Returned to the gym in my mid 50s but by then it was about getting range of motion back, and injury prevention. Still made sure to do one hard heavy set
per exercise and that triggered the metabolism and I dropped another 10 which made me waaay faster on the bike.

Surprising thing was my back. About 80% of my
strength returned. What this really told me was that I didn’t work it enough as a younger man.

Now early 60s and easing into retirement. Have gained back the 10. Want to get back to gym in a month once weather turns. Keeping an eye on Covid of course.

#157 IHCTD9 on 09.03.21 at 12:59 pm

Moved my eldest into residence yesterday. First thing I noticed was the whole place was overrun with young Women. A group goes by, 8 ladies, 2 guys. Another, 3 Ladies and 1 guy. Huge groups going by – almost all Women, every time. I googled up the gender balance for Queens and it is sneaking up on 70/30! That is nuts!

Imagine being a guy in his prime cooped up with loads of single young women approaching nesting age at a ratio of over 2:1 for 4+ years! Those Women are going to have to compete like crazy in the clearly, exceedingly small “Man Market”. And where the heck are all the Men?

I guess I got to see the point of the arrow in the “shrinking pool of eligible Men” right at the ground floor.

#158 IHCTD9 on 09.03.21 at 1:10 pm

Here’s Trudeau being asked the same question 18 times in a row, yet avoiding answering it. Every. Single. Last. Time.

https://www.cbc.ca/news/politics/trudeau-question-period-ethics-commissioner-1.4108903

That’s hard to watch.

Exactly what you’d expect from the Liberals.

#159 Damifino on 09.03.21 at 1:11 pm

I expected some post-debate headlines like this:
“Trudeau does slam dunk at French debate”

And probably some others like this:
“Cool O’Toole knocks one out of the park”

You had to be there, I guess. And also, a Francophone.

#160 Nonplused on 09.03.21 at 1:18 pm

#141 SunShowers on 09.03.21 at 9:15 am

“If it suddenly becomes extremely unprofitable to own single family homes for the purpose of renting them out, landlords will immediately move to sell them. This will create a large supply surge of single family homes on the market.”

Yes, but it will also lead to the eviction of all the people currently living in those homes if they cannot or do not want to buy them. Don’t you see that it produces no new net housing? The only way to produce new net housing is policies that lead to their construction.

A quota system, which is basically what this proposal is, will not lead to an increase in housing supply. Quotas always reduce supply.

#161 kommykim on 09.03.21 at 1:47 pm

#113 Vancity Clay on 09.02.21 at 9:21 pm
and GOD only know that us young taxpayers subsidize seniors who use the lions share of medical services.

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

The difference is that every person under 40, as long as they don’t die 1st, WILL eventually receive those seniors’ benefits. But a 41 yr old can NEVER receive the benefit of the FHSA.

#162 Shawn Allen on 09.03.21 at 1:49 pm

Retire the debt you say?

#136 Do we have all the facts on 09.03.21 at 8:06 am

As I understand current political thinking borrowing hundreds of billions dollars when interest rates were low was essential to protect the quality of life of Canadian citizens. Once the current crisis passes the massive debt will be retired using revenues generated from future economic growth

********************
There is no plan to retire the debt ever. In fact if budget is not going to be balanced for some 20 years, the debt will grow every year until then.

Any maturing debt will be “rolled over” that is new money will be borrowed to pay any maturing bonds. It’s likely also that most of the interest will be borrowed. That is deficits will be larger than total interest so you could say the interest will be borrowed.

All gain and no pain? Until interest rates rise…

#163 KLNR on 09.03.21 at 1:50 pm

@#128 Ponzius Pilatus on 09.03.21 at 12:11 am
#126 IHCTD9 on 09.02.21 at 11:42 pm
People are just piling into Texas right now. Almost 700k since 2011 just from California alone, and very few are leaving.
———————-
Just wait until Abbot and Cruz are finished legislating the State back into the Middle Ages.

I hear they may be changing the name of the state to Gilead.

#164 KLNR on 09.03.21 at 1:56 pm

@#158 IHCTD9 on 09.03.21 at 1:10 pm
Here’s Trudeau being asked the same question 18 times in a row, yet avoiding answering it. Every. Single. Last. Time.

https://www.cbc.ca/news/politics/trudeau-question-period-ethics-commissioner-1.4108903

That’s hard to watch.

Exactly what you’d expect from the Liberals.

hate it when politicians do that.
and they all do it.

#165 Planetgoofy on 09.03.21 at 2:55 pm

#164 KLNR on 09.03.21 at 1:56 pm
https://www.cbc.ca/news/politics/trudeau-question-period-ethics-commissioner-1.4108903
That’s hard to watch.
Exactly what you’d expect from the Liberals.

hate it when politicians do that.
and they all do it.
—–
Yup Painful to watch….He IS the King of avoidance.
I’d be so embarrassed if I represented my business or faced my commercial tenants like that.
A worm of a leader. If he wasn’t such a criminals he wouldn’t have too carry on like a buffoon. Integrity and accountability are gone. Desperate to keep his power and not get caught Lying.
A Canadian Prime Minister Can’t Be “Impeached” But They Can Be Kicked Out Of Office” I wish.

And Prez. Biden….wow what a winner. Now all you Trump haters are getting what you deserver. I predicted it here.
Big B no brains, No balls and can’t even speak.
The truth come out about the AFF disaster. He’s embarrassed the USA. His rating crashed.
He’s now avoiding questions…Just like our fraud.

#166 Phylis on 09.03.21 at 5:14 pm

#147 Andy on 09.03.21 at 11:14 am
Looks like JT got crushed the by the opposition in last night’s debate. This will strengthen both the Bloc and any Con votes in Quebec. Libs will probably lose more seats there.

Isn’t politics fun….
Xxxx
Fixed it for ya.

#167 Patrick on 09.04.21 at 12:30 am

@Mark
“but but but Trudeau said that only rich people can afford to put money in a TFSA!!! didn’t he???so this is to help rich people buy a house??”

I’m so glad I’m not the only person who remembers this. Why can’t more people bring up these blunders, and start exposing T2 for the two-faced hypocrite that he is? More Canadians need to wake up, and realise he has no business in the country’s highest office, and that he should go back to being a supply teacher.

#168 C Smith on 09.04.21 at 8:52 pm

The under 40 plan – besides being against the Charter of Human Rights – isn’t about home ownership at all, it’s about home sponsorship, by people who have been paying taxes all their lives and will now pay more to subsidize the RE Ponzi scheme and create the illusion of a new generation of home “ownership.”

“The government cannot give to anybody anything that the government does not first take from somebody else.”