Tough love

It may be a shock to those living in Yaletown or Leslieville, but there’s more to Canada. In the last few days we yakked here about real estate markets in the GTA and LM – sales down, listings way down, prices up. This is the housing equivalent of restricting your diet to two food groups – Doritos and Pepsi. It may be yummy, but you’ll soon croak.

House prices peaked almost six months ago. Since then mortgages have remained crazy-low, the economy’s opened more, school is back and now politicians are running around with homebuyer goodies. And yet housing remains sick. Frozen at levels that are stilling both buying and selling.

Look at three other key markets for further insight.

Montreal is the largest outside of the Toronto megalopolis. In August sales did not subside – they crashed. Regional transactions were less than 3,400, whereas last year at the same time almost 5,000 properties changed hands. New listings were similarly down by a third. Less demand, lower supply. And yet, higher prices. The median value jumped 20%. That’s ten times the average income increase in the region.

Kitchener-Waterloo is a tech hub in Ontario, a uni town with a hotshot new light rail transit system and ambitions. Real estate there has been nuts during Covid. Not so much now. Overall sales in August were down 22% year/year. Detached deals fell 30.6%. The decline from July was precipitous (12%). Realtors shrugged it off: “People got out and enjoyed their summer and shifted their real estate needs to the back burner for a much-needed change of focus,” says the local realtor board. That’s probably true in part. But a 19% one-year price surge has put a lot of people out of the market.

In BC’s capital, condo sales were up and detached sales fell hard by 30%. Just 357 changed hands in Victoria. The big story here is a listings drought – 56% fewer properties for sale than last year, and tumbling sharply month/month. Meanwhile prices have careened higher, so it now costs 22% more than last August to buy the same place.

Buyers are retreating because (a) the choice of properties everywhere has diminished sharply and (b) even with sub-2% mortgages, prices are too stupid. Owners aren’t listing, despite windfall profits, since they can’t afford to move. Property values have surged because demand still exceeds supply while credit is cheap and there remain people willing to borrow at Faustian levels.

The NDP wants to bring back 30-year mortgage amortizations, dropping monthly payments and allowing people to borrow more. The Cons want locked-in mortgage terms extended to seven and ten years, guaranteeing low rates for longer and allowing for larger loans. The Libs are sweetening the shared-equity mortgage so house profits can be retained by borrowers and bringing in a new tax shelter for down payments only. There are more initiatives, but the bottom line is that it’s all about financing and demand.

So will there be a bounce in September, and especially when the election is done on the 20th? What is the best outcome if you crave cheaper values?

That’s a majority government. Especially a blue one. Conservatives will not increase the taxes on banks as T2 has vowed. That would simply find its way into higher mortgage and loan costs. The Cons will not create an ageist tax shelter the sole function of which is to feed house sales and prices. They will not try to dictate realtor practices nor will they pay the closing fees on the houses of newbie purchasers or buy down monthly payment costs. If you want more affordable real estate, those are very bad ideas.

Meanwhile a majority government (especially a blue one) would sate financial markets where certainty is valued and surprises loathed. Economic stability, reduced spending and a finance minister who’s actually a financial person might encourage the central bank to ease back on stimulus, sending bond yields higher.

We all know what will make houses cheaper. And it ain’t giving money to buyers. You’d think we would know that by now.

About the picture: “I’ve been following your blog for 5+ years and was thankful to find it when I was just starting my career,” writes Clayton. “Your advice has literally changed the course of my life and I’ve learnt more about how life works than any other education I’ve received (two degrees and paying attention in public school). Anyways, here’s Luna. Our lovely and high maintenance 4 year old Frenchie. I guarantee she’d love you and probably knock you over with her gargantuan shoulders. She’s a strong one for her size, but a sweetheart. Feel free to use!”

156 comments ↓

#1 BlogDog123 on 09.07.21 at 2:43 pm

reduce NIMBY red tape on infill development… More supply will help.

#2 Dolce Vita on 09.07.21 at 2:44 pm

Could not agree more.

Leave the RE market alone.

No more Gov’s meddling and tweaking. It has come to no good end.

Hopefully “Blue” does as you suggest.

Especially putting someone into Finance, well, that actually knows about Finance.

#3 My Body My Choice on 09.07.21 at 2:46 pm

How to solve the housing crisis in Canada:

1. The Central Bank needs to raise interest rates immediately by .25%, then again every 3 months until there is a 10% price correction. Then pause interest rate hikes. If prices start to inch up, increase rates .25% again every 3 months until there is another 10% correction.

2. The Central Bank needs to start tapering immediately until there is no longer any stimulus. The federal government needs to stop printing money/deficit spending.

3. Immigration/refugee/visa/TFW levels need to be capped at 100,000/year total for 5 years to allow builders to catch up.

4. COVID restrictions need to be normalized quickly to allow the economy to function normally so home/apartment and condo builders can work unencumbered.

5. The federal and provincial governments need to start freeing up more federal and provincially-owned lands, including crown land.

6. The feds, banks and regulators should tighten lending rules: 20 year amortization, 25% cash downpayment, etc.

Then sit back and watch the normal supply/demand function the way it’s supposed to.

#4 Don on 09.07.21 at 2:47 pm

On a personal tax return have the person tick whether they rent or own and the name of the landlord. The mom and pop landlord rarely disclose their rental income to the CRA (75% of those I know do not). This slide in income will push prices lower naturally since cashflow must be adjusted for taxes.

#5 mgjans on 09.07.21 at 2:47 pm

Latest polls are showing the Big Red Machine romping forward.

Congratulations Prime Minister Trudeau

Onward to 338!

#6 Linda on 09.07.21 at 2:48 pm

Politicians. A pox on all their party platforms:( I’ve little doubt that if the option of ‘None of the above’ were on our ballots we would have a clear majority.

I don’t know if the increased polarization will result in another minority government of whatever stripe or not, but I think it quite possible. Hopefully not a Liberal one, since JT has apparently already vowed to call yet another election within 18 months should the Liberals not win a majority yet continue as the reigning party. Deficit? What deficit? The budget will balance itself! I’d laugh, but this wasn’t funny the first time & sure isn’t any more amusing now.

#7 Faron on 09.07.21 at 2:53 pm

#159 crowdedelevatorfartz on 09.07.21 at 12:34 pm
@#155 Faron

Yes, strict gun laws aren’t going to stop all criminal shootings. But that is a spoof in the gun control argument because that isn’t the question.

The goal of legislation should be to minimize gun violence full stop. If relaxing regs doesn’t do this the relaxation is a failure.

The question to ask is what is to be gained by relaxing the regs in a society where the vast majority live in cities and have no use for a “ranch” gun. Such guns, in that case, are purely recreational while still being lethal.

You are absolutely right about criminal justice glaciation. Fits hand in glove with the money laundering gang crap in the LML.

#8 To the point. on 09.07.21 at 2:55 pm

Was the picture of the dog supposed to remind us of O’Toole?

#9 In Dog We Trust on 09.07.21 at 2:55 pm

Dream on,,, we’ve been conned before by the Cons,,, at least with True-doe you get more of what you already know… Better with the devil you already know..??

#10 Dolce Vita on 09.07.21 at 2:56 pm

One thing for certain, the Realtors have outdone themselves with blind auctions etc. along with a RE crazed populace at propelling prices to the unaffordable.

The Realtors will end up eating this market in the worst way.

Few sales, large commissions.

Only the very good, you want to hope, will survive. The rest will be looking for new jobs.

Natural Selection’s a female dog.

Reap what you sow.

#11 In Dog We Trust on 09.07.21 at 2:57 pm

and quite frankly,,, the Libs have done a f’n great job considering all the surprises theyve had to deal with,,, from trump onward,,, a great job actually…

#12 In Dog We Trust on 09.07.21 at 2:59 pm

Con’s just want their oil-buddies so to re-build Alberta from the States on down… Don’t get conned again…

#13 Candide in Mississauga on 09.07.21 at 3:05 pm

Partisan much!?

Shheesh!

#14 TimP on 09.07.21 at 3:09 pm

DELETED (Anti-vax)

#15 Faron on 09.07.21 at 3:10 pm

#165 Sail Away on 09.07.21 at 1:00 pm

My goodness [I’m] a nutter, you know?

There are so many directions to go… Do I point out you were digging through the comments at 1:30 AM on a school night? That you are hyprocritically diagnosing mental health of others? That you are taking up the supurbely crude and weak BillyBob tactic of calling crazy when you disagree? That you could be projecting your own struggles? That your days of being an infatuation target are as numbered as the hairs on your balding scalp? I love a free pile. I love the circus. You provide both at once.

Thanks!

#16 When Will They Raise Rates? on 09.07.21 at 3:12 pm

I’m sure those with more knowledge in the minutae of Canadian politics (like Garth) will correct me if I’m wrong, but isn’t a con majority all but neccessary to avoid a Lib/NDP coalition from robbing O’Toole in the event he wins by a small margin?

Didn’t a similar scenario recently play out in BC where the Libs won the most seats but got punted by the NDP/Greens?

#17 Adam on 09.07.21 at 3:15 pm

I mean let’s not pretend that the Conservatives have a great track record with housing either. They are probably the better of the 3, but that’s like choosing which egg is the least rotten. Under the nearly 10 years that Stephen Harper was Prime Minister (Feb 2006 to Nov 2015), house prices exploded. In fact, the housing boom pretty much began under his watch. In Feb/2006 the average price of a detached home in YVR was $705k. 10 years later, Feb/2016, that soared to $1.816 million. Compare that to the 5 years from Feb/2016 to Feb 2021 (under Trudeau). In Feb/2021, the average price of a detached home in YVR was only $1.865 million, which means after inflation the cost of a detached home in Vancouver actually dropped in those 5 years. So to suggest Conservatives may be best for housing… not so sure the track record shows that.

#18 Comrade on 09.07.21 at 3:16 pm

T2 addressing media these days:

https://www.youtube.com/watch?v=HMqZ2PPOLik

#19 Shawn Allen on 09.07.21 at 3:17 pm

Demand for houses strong and sellers won’t sell becasue they have no place to move to?

This is a perfect opportunity for home builders small and large.

Enterprising people with a piece of land can build a house on it. Or buy a vacant lot and build a house on it to sell.

Home builders and land developers should be licking their chops and ramping up supply.

And I’m pretty sure they have been.

Developers of condos and apartment buildings should be gearing up too.

Surely its happening?

Are you a carpenter or have other home construction skills. I’ll bet you are not unemployed. What’s the scene out there? Do tell us.

Housing starts are up and will continue to rise, no?

#20 Dolce Vita on 09.07.21 at 3:17 pm

One last salvo Garth.

Canada should really be calling this the 1st Unvaxd Delta Wave and not the 4th Wave.

Delta the predominant Covid strain, 75.4%. The remainder all the other myriad of strains.

Unvaxd vs. of total:

New cases 88.6%
Hospitalizations 84.6%
Deaths 82%

The remainder comprised of partially vaxd, fully vaxd and the yet to kick in immunity just after being vaxd.

By contrast, Fully Vaxd vs. of total:

New cases 1.1%
Hospitalizations 1.1%
Deaths 1.6%

—————-

And the unvaxd throwing gravel at the PM (rocks according to the milquetoast Cdn MSM).

They are FOOLS on that errand.

https://health-infobase.canada.ca/covid-19/epidemiological-summary-covid-19-cases.html#VOC

#21 My Body My Choice on 09.07.21 at 3:20 pm

“…Bernier is unhinged. I know him. – Garth”

Please, enlighten us, Garth.

Bernier’s got a very thick accent but everything he says and does seems sane, sensible, logical, patriotic. His policies would restore this country back to some semblance of normalcy.

But I agree with you, the PPC isn’t ready to govern this time around. Maybe next time.

The only one who can remove the Liberals from power in 2 weeks are the Conservatives and O’Toole, imperfect as he may be. I have a lot of respect for most of the Conservative MPs, despite them having a relatively weak leader.

#22 Dave on 09.07.21 at 3:20 pm

Lol,

A majority PC government is not going to happen because there aren’t enough people who vote only on narrow economic interests. Most aren’t that narrow minded.

#23 A01 on 09.07.21 at 3:27 pm

Unless O’Toole stumbles, it will be a conservative majority. Too many people are afraid to speak out against the libs/NDP, less you be labelled by the woke mob as evil. They will do so when the vote in a couple of weeks.

#24 Lucy on 09.07.21 at 3:32 pm

“ We all know what will make houses cheaper.”

RAISE the interest rates!

The “supply” issue is an excuse. There are too many individuals who have multiple properties. Raise the rates!

#25 T-Rev on 09.07.21 at 3:34 pm

Unfortunately, the right-of-center in Canada is fractured yet again, and Mad Max has sucked off enough support from the Anti-Vaxx wing of the conservative party that he’s not only going to prevent a CPC majority, but he may actually had the liberals an outright seat victory. Either way, a vote for Max is a vote for Trudeau. PPC voters might not see it like that, which is unsurprising since I don’t think anti-vaxxers can actually do math, or perhaps they’re just willfully ignorant (the statistics speak for themselves, and anyone with a background in mathematics can see that if nothing else, vaccines reduce the likelihood of severe illness and hospitalization by 5-10x, while vaccine related side effects are almost nil). So Trudeau’s most ardent haters (Max’s followers) will ironically keep him in power or at least closer to power, while (also ironically) clogging up our hospitals and delaying surgeries, forcing government to get ever more draconian in their vaccine mandates and other measures in order to preserve that capacity. They say every country has the government it deserves…

#26 Blacksheep on 09.07.21 at 3:36 pm

Shawn Allen # 157,

Shawn does a good job laying out the truth on chartered banks…should be mandatory reading. If you read and absorb one thing from this blog today, this should be it.
——————————-
“How Banking Works…

It is the banks and their borrower customers that are “printing money”

This is relevant to high house prices.

Here is a simple explanation

First what actual money do you (or any other person or business) have? Not wealth but money? Your money is what you have in bank deposit accounts including inside your investment accounts and that probably moldy $40 in your wallet.

Almost all money (personal and especially corporate) these days is in the form of bank deposits. Relatively little is in paper cash form.

So… imagine young Frank has $50k for a down payment on a house. Joe, a senior has a paid for house worth about a million and little other cash.

Frank gets a mortgage of $950k to buy the house. The bank makes an electronic entry showing an added $950k in Frank’s deposit account (a liability for the bank) and a receivable of $950k from Frank (an asset for the bank). Frank’s net worth is unchanged. The bank’s net worth is unchanged. But voila $950k in new money has been created (shall we say printed?). There are limits on this and it is not nefarious but the point is it is happening many times every day.

Initially from the bank’s perspective Frank’s own deposit is “funding” the loan to Frank. In any case no cash has left the bank.

Next step Joe gets a cheque for $1 million (let’s ignore transaction costs for simplicity). Joe will have to deposit that cheque in some bank or other.

Frank now has no money but owns a house and owes the $950 mortgage. His net worth still unchanged.

Joe has a million in money but no longer owns his $million dollar house. His net worth is unchanged.

Between Frank and Joe, the total of their money has risen by $950k.

Frank’s bank has to “send” a million dollars to the bank where Frank deposited the cheque. This occurs with a reduction to Joe’s bank’s deposit at the clearing bank and an increase in Frank’s bank’s deposit at the clearing bank. Joe’s bank gets a reduction in its deposit liability to Frank and a reduction in its asset deposit at the clearing bank. Its net worth still unchanged.

The house was bought. Frank had only $50k. Joe now has one million in money. $950k in new money has been created (printed if you will).

No matter what Frank does with his $million on deposit it is almost certain to remain as a bank deposit someplace. Be it in the deposit account of some investor that Frank buys stocks from, or the bank deposit of various businesses where frank spends the money. That new money will remain in existence until someone uses it to pay off a loan which interestingly enough reduces the total bank deposits in existence and is the opposite of printing money.

The point of this long story is to show that it is borrowing that “prints money”. The central banks facilitate this with low interest rates. But it is borrowers and their banks that actually “print” the money.

The money supply has been increasing and it’s because of borrowing. This includes government borrowing. But certainly also includes personal and corporate borrowing.”

#27 Triplenet on 09.07.21 at 3:42 pm

How long will it take for Tiff Macklem to ask for federal housing advice from Evan Sidall?

#28 No Left Turn on 09.07.21 at 3:43 pm

#7 Faron on 09.07.21 at 2:53 pm

Incorrect. We have no use for people who misuse the guns. Full stop. Remove all anti-peace and anti-law and order supporters and problem solved.

#29 When Will They Raise Rates? on 09.07.21 at 3:48 pm

#3 My Body My Choice on 09.07.21 at 2:46 pm

How to solve the housing crisis in Canada:

1. The Central Bank needs to raise interest rates immediately by .25%, then again every 3 months until there is a 10% price correction. Then pause interest rate hikes. If prices start to inch up, increase rates .25% again every 3 months until there is another 10% correction.

2. The Central Bank needs to start tapering immediately until there is no longer any stimulus. The federal government needs to stop printing money/deficit spending.

3. Immigration/refugee/visa/TFW levels need to be capped at 100,000/year total for 5 years to allow builders to catch up.

4. COVID restrictions need to be normalized quickly to allow the economy to function normally so home/apartment and condo builders can work unencumbered.

5. The federal and provincial governments need to start freeing up more federal and provincially-owned lands, including crown land.

6. The feds, banks and regulators should tighten lending rules: 20 year amortization, 25% cash downpayment, etc.

Then sit back and watch the normal supply/demand function the way it’s supposed to.

—————

7. Abolish CMHC

#30 Do we have all the facts on 09.07.21 at 3:56 pm

Housing isn’t the only commodity that has been impacted by inflation. For some reason the historical practice of using interest rates to bring inflation under control has been replaced by the practice of convincing Canadians that inflation is not that bad or that it is transitory and will disappear once the economy returns to historical growth patterns.

As long as interest rates remain low the lack of significant
wage growth in Canada is being offset by increasing consumption based debt. Any political party that views the use of credit to purchase overpriced assets as a way to deal with uncontrolled inflation must be getting their inspiration from pawn brokers.

Borrowing funds to purchase over priced assets that are then used as collateral for a loan is the reverse of purchasing an asset for cash and then having to pawn it for a portion of its value when your cash runs out.

In theory borrowing funds from a pawn broker is based on the intent to regain ownership of a pawned asset when good times return. In reality many borrowers end up losing their asset along with a big chunk of the original purchase price.

If circumstances never changed their would be no need for pawn shops or credit counsellors. Many Canadians have reached their debt servicing capacity under existing circumstances. As inflation increases debt servicing capacity will shrink and extending the terms of loan repayment is not a solution but an clear admission that a a borrower may be over extended.

Living within your means is the best way to protect against a negative change in future circumstances.

#31 jimmy zhao on 09.07.21 at 4:03 pm

“…Bernier is unhinged. I know him. – Garth”

Could you give an analysis of what would happen to the economy if some of Bernier’s proposed ideas were enacted ?

Maybe we need some different ideas than the same old tired harangue of the Libs, Cons, Greens and dippers.

#32 When Will They Raise Rates? on 09.07.21 at 4:16 pm

#24 T-Rev on 09.07.21 at 3:34 pm

Unfortunately, the right-of-center in Canada is fractured yet again, and Mad Max has sucked off enough support from the Anti-Vaxx wing of the conservative party that he’s not only going to prevent a CPC majority, but he may actually had the liberals an outright seat victory. Either way, a vote for Max is a vote for Trudeau.

———–

Yep. Max is unfortunately our Ross Perot.

And you are correct, the irony of anti-vaxxers handing Trudeau victory would be beyond hilarious if it wasn’t so devasting to the future of our country.

Calling all anti-vaxxers, ONLY VOTE FOR MAX IF YOU LIVE IN A SAFE CONSERVATIVE RIDING! I BEG YOU PLEASE! Lol

#33 Squire on 09.07.21 at 4:18 pm

#22 A01 on 09.07.21 at 3:27 pm
Unless O’Toole stumbles, it will be a conservative majority. Too many people are afraid to speak out against the libs/NDP, less you be labelled by the woke mob as evil. They will do so when the vote in a couple of weeks.

——————————————————————
So true. We can see who the real bullies are.
Covid has exposed the stupidity that’s been lurking in the shadows.
For the sake of all of us and Canada, please vote Conservative.

#34 jimmy zhao on 09.07.21 at 4:18 pm

The ‘Leaders’ Debates Commission’ and news media party run their own little fiefdom acting as gatekeepers on what ideas are allowed to be presented to the public.

Maybe Bernier is a threat to their sovereignty and they therefore do not want him at the leaders debate.

Remember when Bernier was arrested by the RCMP in Manitoba and the cop asked him if he was carrying any weapons or anything “that can hurt me?”
“Only my words,” Bernier responds. “Only my philosophy, only what I believe in.”

Bernier is an anti-vax, egocentric, populist crybaby who still can’t get over losing the Conservative leadership race. You are bowing to a false god. – Garth

#35 FriedEggs on 09.07.21 at 4:20 pm

Please listen to the hedonistic, alleged Italian, that has zero twitter followers and his sage advice!

And 6uild 6ack 6etter…

#36 under the radar on 09.07.21 at 4:21 pm

18 – Not so easy. A slew of costs before a shovel hits the ground. Lot levies , development charges , school levies , etc , significantly add to the final price. If municipal variances are required more time and delay not to mention projecting labor and material costs a few years into the future. The big players build condo’s with as much density as they can get. The large subdivision builders are way out in the 905, 519, 705 you name it .
For the small builder they better be building with cash or have rock solid financing and very good reliable trades, otherwise they sometimes get hurt.
There is no land in the 416, which is why 1.5-1.8 million dollar homes are being demolished. I finance a few small builders in the 416 core and let me tell you the cost of entry keeps getting more scary forcing them to build even more expensive homes that fewer and fewer can afford.

#37 Ponzius Pilatus on 09.07.21 at 4:21 pm

#160 CEF

We’re so much more civilized than the mobs that rounded up the ruling elite in France 200 years ago and fed them alive…..to pigs.
———————————-
You talking about the French Revolution which eventually let to the forming of the first Western Republic/Democracy?
Remember the Lady that said “Let them eat Cake”?

#38 vanreal on 09.07.21 at 4:24 pm

The one and only thing that government should do is cap real estate commissions. It is ridiculous that the commission is still at the same percentage as when prices were half of what they are now. It should be capped at 1% below 2,000,000 and .5 % above 2,000,000. These people have minimal training and should be paid accordingly

#39 Paul B on 09.07.21 at 4:27 pm

DELETED (Anti-vax)

#40 Garth's Son Drake on 09.07.21 at 4:34 pm

The economy is looking a little shaky.

Remember: I said things are going to nose dive in the next several months.

Why? Stimulus to fend off the pandemic has ended and the pandemic is worse than ever.

Don’t worry about short term inflation. Deflation is coming.

You watch.

There is no deflation. There will be no deflation. You don’t even know what deflation is. – Garth

#41 crowdedelevatorfartz on 09.07.21 at 4:46 pm

@#167 Trojan Man
“I look at them as uneducated , pathetic, loser, trailer trash for the most part.”

Funny, that’s exactly what I thought of you as.”

+++
Uncannily acute observation.
However.
As an Ex Nova Scotian……
I draw the line at living in a Trailer Park……

#42 Def Lating on 09.07.21 at 4:46 pm

There is no deflation. There will be no deflation. You don’t even know what deflation is. – Garth

Yo Garth, was June Science-Fiction month on the blog?

https://www.greaterfool.ca/2021/06/14/going-hyper-2/

Read that post carefully. – Garth

#43 Ponzius Pilatus on 09.07.21 at 4:51 pm

#23 Lucy on 09.07.21 at 3:32 pm
“ We all know what will make houses cheaper.”

RAISE the interest rates!

The “supply” issue is an excuse. There are too many individuals who have multiple properties. Raise the rates!
———————
Agree.
But it’s a no go for any party.
About 70% of Canadians are home owners, many of them with mortgages.

They

#44 Ethical Investing? on 09.07.21 at 4:51 pm

Is it possible to invest ethically?

Apple has army of exploited labour make our iPhones while making insane margins from us.

Pharma has army of lobbyists pushing for rules and result in FDA changing some fine print and giving us the opioid crisis, to name but one indiscretion.

Banks and Government are like conjoined twins.

Tech are a bunch of creeps and privacy invaders who prey on children.

Sugar industry has made 73% of Americans obese.

On and on and on it goes.

Making money is one thing, but what options are available to an investor that are good for the soul by well run profitable enterprises even if the returns are lesser?

Is it even possible?

#45 XGRO and chill on 09.07.21 at 4:52 pm

#21 My Body My Choice on 09.07.21 at 3:20 pm
“…Bernier is unhinged. I know him. – Garth”

Please, enlighten us, Garth.

Bernier’s got a very thick accent but everything he says and does seems sane, sensible, logical, patriotic. His policies would restore this country back to some semblance of normalcy.

——–

Are you kidding me? One of his candidates, Mark Emery, just suggested via Twitter Justin Trudeau should be executed. Bernier merely asked him to apologize and delete the tweet, not leave the party. Apparently openly calling for assassination of our most powerful elected official just gets a little slap on the wrist.

The man is building a party out of the fringe right wing deplorables, and is showing us they are not being held to a basic standard of professionalism / decency.

#46 Prince Polo on 09.07.21 at 4:53 pm

I thought that housing was already beyond the point of no return and that there are no politicians brave enough to tell the electorate that their “how much is the monthly” investment plan is setting up for an epic fail in the 2020s. Will the Cons really force the real estate market into contrition for its past misdeeds?

Of course not. They just need to stop feeding it. – Garth

#47 That guy on 09.07.21 at 5:00 pm

I think we are going after the wrong thing here. The problem is the mindset: most Canadians cannot think about anything else than buying a house and getting “rich” when it goes up in value. How does that make society better? What value does that add for consumers?

#48 Ponzius Pilatus on 09.07.21 at 5:02 pm

#38 vanreal on 09.07.21 at 4:24 pm
The one and only thing that government should do is cap real estate commissions. It is ridiculous that the commission is still at the same percentage as when prices were half of what they are now. It should be capped at 1% below 2,000,000 and .5 % above 2,000,000. These people have minimal training and should be paid accordingly
———————
And while they are at it, they should should also cap how much plumbers can charge.
Plumbers and other trades persons are the new elite, many of whom own more than one property, mainly for speculation.
Tax’em hard and tax’em often.

#49 DM in C on 09.07.21 at 5:03 pm

“We all know what will make houses cheaper”

How about stop taking risk off the banks via CMHC. Qualify based on income and no more than 40% of income, depending on the market you’re buying in.

That would immediately crash the market and fix it all. Our economy is untenable like this.

If a family of two working doctors can’t afford to live in our major cities, what’s left for the rest of us?

#50 crowdedelevatorfartz on 09.07.21 at 5:04 pm

@#7 Faron

“The question to ask is what is to be gained by relaxing the regs in a society where the vast majority live in cities and have no use for a “ranch” gun. Such guns, in that case, are purely recreational while still being lethal.”

+++

No one is suggesting “relaxing” gun regs and AGAIN you are ignoring the facts.

MORE gun regs aren’t going to stop ILLEGAL guns in the hands of people who dont have gun permits.
Illegal gun owners who seem to …..Live in urban areas.

Smoke and mirrors for gullible voters.

#51 Faron on 09.07.21 at 5:04 pm

#43 XGRO and chill on 09.07.21 at 4:52 pm

#21 My Body My Choice on 09.07.21 at 3:20 pm
“…Bernier is unhinged. I know him. – Garth”

“Bernier is an anti-vax, egocentric, populist crybaby who still can’t get over losing the Conservative leadership race. You are bowing to a false god. – Garth”

I find it comforting that even those a fair bit to the right of me on the political spectrum share common ground that the PPC isn’t viable.

#52 Sara on 09.07.21 at 5:05 pm

#165 Sail Away on 09.07.21 at 1:00 pm

“I am accustomed to being the object of infatuation…”

Highly narcissistic people tend to think of themselves as such regardless the reality.

#53 Def Lating on 09.07.21 at 5:07 pm

#42 Def Lating

There is no deflation. There will be no deflation. You don’t even know what deflation is. – Garth

Yo Garth, was June Science-Fiction month on the blog?

https://www.greaterfool.ca/2021/06/14/going-hyper-2/

Read that post carefully. – Garth

—-

I believe I did. Was good food for though then and recap today.

You say…

Forget inflation. This is what to expect.

Here’s a more likely scenario.

….So what if the next big thing is deflation?

You did talk about Tech, AI, Cloud – which is why I asked if June as Sci-Fi month. Maybe you wrote it after watching San Junipero episode of Black Mirror?

#54 Michael in-north-york on 09.07.21 at 5:15 pm

#1 BlogDog123 on 09.07.21 at 2:43 pm
reduce NIMBY red tape on infill development… More supply will help.
===

Agreed 100%.

The “blue” majority government is better overall, it will improve our chances to avoid the future financial meltdown.

But for the RE market, more supply is the primary fix. Policy tweaks matter, they can make things slightly better or slightly worse, but they alone will not stabilize the market.

#55 Cici on 09.07.21 at 5:16 pm

#25 T-Rev

Exactly. If only more Canadians were that enlightened… sigh!

#56 Valeri on 09.07.21 at 5:32 pm

The NDP wants to bring back 30-year mortgage amortizations, dropping monthly payments and allowing people to borrow more. The Cons want locked-in mortgage terms extended to seven and ten years, guaranteeing low rates for longer and allowing for larger loans. The Libs are sweetening the shared-equity mortgage so house profits can be retained by borrowers and bringing in a new tax shelter for down payments only.

But no one wants the prices to decline from the crazy levels they are now. That’s everything you should know about the Canadian housing market.
I can only see how the next government comes up with new ideas to increase sales, and in the best case scenario we won’t see prices go up again… but I doubt it. It seems it doesn’t matter for the politicians how much houses cost as long as they are bought and sold.

#57 WTF on 09.07.21 at 5:34 pm

#29 RR

7. Abolish CMHC

—————————————————————–
Hear Hear, let the bank cartel assume the risk, not me or you or everyone else on this blog who pays taxes.

Now up to over 10% Canadian Residential Investment As A Share Of GDP. Never been done before, Sounds fiscally dangerous. Carry on

#58 Cici on 09.07.21 at 5:35 pm

I live in Québec and Bernier is a truly frightening individual. Anyone who thinks otherwise has got to be deluded.

Please listen to Garth, #45 XGRO and Chill, etc., then think things through.

#59 Pricedoutmillenial on 09.07.21 at 5:36 pm

Do I vote for the PM or the candidate in my area. The incumbent candidate is a veteran. If I want the PM of my choice, it looks like I might have to choose someone unproven with not good credentials.. tough choice..

#60 crowdedelevatorfartz on 09.07.21 at 5:41 pm

@#167 A Quintillian reasons to topple statues

“Sure thing, “The Reign of Terror” and knocking down a few statues of dead people is the same thing.

+++

Lets just look at the “mobs” shall we?
Mobs that realize their power of numbers.
Mobs so large the police are helpless…..

Take away civilizations electricity in a “divine intervention” say… a solar flare like the one that hit the planet back in the late 1800’s when there were a few telegraphs…

https://en.wikipedia.org/wiki/Carrington_Event#:~:text=The%20Carrington%20Event%20was%20a,largest%20geomagnetic%20storm%20on%20record.&text=The%20storm%20created%20strong%20auroral,serious%20damage%20to%20telegraph%20systems.

Take away all electricity for a few weeks or months and watch how quickly “civilized” society reverts to its basest impulses when the food runs out….. the Law disappears…..

Rainbow sidewalks will be the last thing on your mind……

#61 BillyBob on 09.07.21 at 5:41 pm

#15 Faron on 09.07.21 at 3:10 pm
#165 Sail Away on 09.07.21 at 1:00 pm

My goodness [I’m] a nutter, you know?

There are so many directions to go… Do I point out you were digging through the comments at 1:30 AM on a school night? That you are hyprocritically diagnosing mental health of others? That you are taking up the supurbely crude and weak BillyBob tactic of calling crazy when you disagree? That you could be projecting your own struggles? That your days of being an infatuation target are as numbered as the hairs on your balding scalp? I love a free pile. I love the circus. You provide both at once.

Thanks!

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

Now now, Faron. We’ve seen your image in the media – as someone for whom middle age has clearly not been kind to, you’re really not one to be casting aspersions on other people’s physical characteristics. What were you saying about crude tactics? Or was that the progressive’s idea of the high road?

And who said I agree/disagree with you? When was the last time I even bothered to engage with your 1-dimensional viewpoint? I honestly think you’re ill. Your most recent weak attempts to explain away your strange obsession with provocation don’t exactly work against this perception.

It’s getting harder all the time to tell if your comments are just doubling down on the trolling, or a cry for help. Either way I hope you find what you’re in need of.

#62 When Will They Raise Rates? on 09.07.21 at 5:46 pm

#59 Pricedoutmillenial on 09.07.21 at 5:36 pm

Do I vote for the PM or the candidate in my area. The incumbent candidate is a veteran. If I want the PM of my choice, it looks like I might have to choose someone unproven with not good credentials.. tough choice..

————

I thank the incumbent for his/her service and feel bad they might lose their job… BUT

You are a priced out millenial… O’Toole will create 1,000,000 new houses!

The choice is clear. Vote accordingly.

#63 Bezengy on 09.07.21 at 5:47 pm

Up here in the north people are buying every piece of dirt they can get their hands on. The land here is still inexpensive in comparison to the rest of Ontario, so its easy to dream of building a house on the cheap. I recently sold an acre with an artesian well, good soil, and road access for $18k. I’m sure most are operating on a shoestring budget and have no idea what they’re getting themselves into. I’d hate to be a by-law officer handing out non-compliance fines to these folks who try to make their own rules, might even be a bit dangerous.

#64 help in vancouver on 09.07.21 at 5:55 pm

Hi Garth,

Really got a kick out of a yahoo story where T2 compared protesters trowing dirt at him as bad as the capital riots.
I guess he needs to call CNN for that.

https://ca.finance.yahoo.com/news/trudeau-says-liberal-campaign-needs-152114342.html

#65 Nonplused on 09.07.21 at 6:20 pm

#7 Faron on 09.07.21 at 2:53 pm
#159 crowdedelevatorfartz on 09.07.21 at 12:34 pm
@#155 Faron

Yes, strict gun laws aren’t going to stop all criminal shootings. But that is a spoof in the gun control argument because that isn’t the question.

The goal of legislation should be to minimize gun violence full stop. If relaxing regs doesn’t do this the relaxation is a failure.

The question to ask is what is to be gained by relaxing the regs in a society where the vast majority live in cities and have no use for a “ranch” gun. Such guns, in that case, are purely recreational while still being lethal.

You are absolutely right about criminal justice glaciation. Fits hand in glove with the money laundering gang crap in the LML.

————————————-

Here out west, and in much of BC, and I imagine northern Ontario and Quebec, there are a lot of hunters who normally reside in the cities.

#66 Faron on 09.07.21 at 6:47 pm

#50 crowdedelevatorfartz on 09.07.21 at 5:04 pm

@#7 Faron

No one is suggesting “relaxing” gun regs

That was the nature of Millennial’s and nonplused’s post! C’mon maaaaan. Reviewing gun control was a part of the conservative platform until two days ago apparently. It’s hard to imagine they would do anything but relax the regulations.

and AGAIN you are ignoring the facts.

MORE gun regs aren’t going to stop ILLEGAL guns in the hands of people who dont have gun permits.

No, I agreed with you on this. Go back and read my post. Nothing will stop illegal gun use.

The reality is more nuanced, as always. Complete cessation of violence shouldn’t/can’t be the target. Harm reduction should be. Will conservative hinting at gun control relaxation lead to more lax laws? Maybe, maybe not. But if they do and one additional person is killed through homicide or suicide because there was a gun in the home that wouldn’t have been there otherwise, then the policy will be a failure.

O’Toole seems to have realized that gun control actually does matter to Canadians seeing that his hint at relaxation brought a sharp rebuke causing him to back-pedal. I think the vast majority of Canadians don’t see a need for any guns of any kind and don’t really think about them primarily because they aren’t at all under threat of gun violence. Sure, there is violence in a few cities, but I’m not sure that much of it is targeted outside of criminal circles. But, once the spectre of looser restrictions comes up, people jump awake on the issue because there is no use for a semi-auto rifle for the vast majority of Canadians!

Anyhow, we might know in two weeks what the cons are really up to given the Trudeau faaaaade.

#67 Barb on 09.07.21 at 6:48 pm

Young-ish people unfortunately won’t understand any of this post. They want things NOW versus what the rest of us did…worked and skimped and saved for 30+ years.

Comprehension isn’t what it used to be.
Probably just trickled down from T2.

#68 S.Bby on 09.07.21 at 6:53 pm

#45 XGRO and chill

What’s Marc Emery upset about? Trudeau legalized marijuana so I’d think Marc would figure that Trudeau is the pot Messiah.

#69 crowdedelevatorfartz on 09.07.21 at 6:56 pm

Well.
The Liberal incumbent in my riding is worried.

In the last three elections….I have never seen, heard or met the man.

Today I arrived ho me to find a “sorry I missed you” card tucked into my door jam by the Liberal MP who is tanking in the polls.
I guess he wouldn’t like to see the personal “Thank you” card I received from the PC candidate for donating $250 bucks to the Conservative election fund.

Less than 2 weeks to go.
Trudeau and Butts are going to start flinging garbage far and wide.

Anti abortion was 1st
No gun control was 2nd.
What’s 3rd?

#70 Howard on 09.07.21 at 6:59 pm

“They will not try to dictate realtor practices”

————————–

Huh? I thought you SUPPORTED a ban on blind bidding?

Not federally, of course, since Ottawa has zero jurisdiction over real estate brokerages. – Garth

#71 Billy Buoy on 09.07.21 at 7:00 pm

According to agents in Niagara market has cooled as well.

However one still smiling from the Niagara Pkwy sales over the past 6 months to overseas buyers who have yet to be seen.

#72 Faron on 09.07.21 at 7:03 pm

#66 Nonplused on 09.07.21 at 6:20 pm

Here out west, and in much of BC, and I imagine northern Ontario and Quebec, there are a lot of hunters who normally reside in the cities.

Thanks to a brief look at the PPC web site (gag) I learned that ~2million Canadians own guns. That’s less than 10% of the total population. Perhaps more like 20% of the voting age pop (don’t care to dig out the numbers). Not a tiny minority, but certainly a minority.

No matter how you slice it, the majority of Canadians want nothing to do with a gun.

If you need a rifle to hunt with, you can get one. Take a class, fill out the paperwork, get a locking case etc etc. I’ll grant you that it’s a burden and for people who depend on subsistence hunting, perhaps that’s an unfair one. But, those people are few. The alternative is the US and their more than daily mass shootings. Sure, it’s not a direct nor a simple path from here to there, but there is a definitive link.

Arguments for relaxing restrictions boil down to either wanting more toys (I get it, guns are fun to shoot). Or to wanting “self protection”. Neither of those arguments come even remotely close to passing muster for making it easier to get a semi-auto rifle. Nada.

It is remarkable when perfectly excellent examples of policy outcomes are available and those outcomes are perfectly ignored out of some kind of self- or special-interest. Nations with strong gun laws have less gun death full stop. Nations with socialized medicine have cheaper healthcare costs and better outcomes. Full stop. Yet people try to jimmy their way to arguing that something else must be happening. Mental health. Racialized violence. Poverty. Culture. These are pieces of the puzzle, no doubt, but the biggest piece is fewer guns in the world.

By arguing for more guns you are arguing to enrich the gun makers (who are lobbying hard for these kinds of laws) and arguing for more people being shot. That’s it.

Man, I know this conversation is killing poor Sail Away who is off on his “calling”.

#73 Howard on 09.07.21 at 7:05 pm

#17 Adam on 09.07.21 at 3:15 pm
I mean let’s not pretend that the Conservatives have a great track record with housing either. They are probably the better of the 3, but that’s like choosing which egg is the least rotten. Under the nearly 10 years that Stephen Harper was Prime Minister (Feb 2006 to Nov 2015), house prices exploded. In fact, the housing boom pretty much began under his watch. In Feb/2006 the average price of a detached home in YVR was $705k. 10 years later, Feb/2016, that soared to $1.816 million. Compare that to the 5 years from Feb/2016 to Feb 2021 (under Trudeau). In Feb/2021, the average price of a detached home in YVR was only $1.865 million, which means after inflation the cost of a detached home in Vancouver actually dropped in those 5 years. So to suggest Conservatives may be best for housing… not so sure the track record shows that.

——————————–

You’re cherry picking by using Vancouver as an example. Vancouver was insane during Harper’s tenure, but it was the ONLY place that was so. Trudeau basically turned all of Canada into Vancouver.

#74 Faron on 09.07.21 at 7:09 pm

DELETED

#75 Howard on 09.07.21 at 7:10 pm

#68 Barb on 09.07.21 at 6:48 pm
Young-ish people unfortunately won’t understand any of this post. They want things NOW versus what the rest of us did…worked and skimped and saved for 30+ years.

Comprehension isn’t what it used to be.
Probably just trickled down from T2.

——————————-

This unsubstantiated evidence-free garbage again, Barb?

Do I really need to show you the stats showing that Millennials own less than a quarter of relative wealth in society that Boomers owned AT THE SAME AGE?

#76 IVoteIndependent on 09.07.21 at 7:11 pm

Rockin the campaign trail, Trudeau legalizes pot, then gets stoned in London:

https://www.ctvnews.ca/politics/federal-election-2021/protesters-throw-gravel-at-trudeau-liberal-leader-won-t-bow-to-anti-vaxxer-mobs-1.5574910

#77 Wrk.dover on 09.07.21 at 7:11 pm

#8 To the point. on 09.07.21 at 2:55 pm
Was the picture of the dog supposed to remind us of O’Toole?
________________________________

Look at the dog to the right of it….

#78 Bezengy on 09.07.21 at 7:14 pm

Drone technology + facial recognition technology. Are we still talking about gun control? That’s so yesterday.

#79 KLNR on 09.07.21 at 7:20 pm

@#17 Adam on 09.07.21 at 3:15 pm
I mean let’s not pretend that the Conservatives have a great track record with housing either. They are probably the better of the 3, but that’s like choosing which egg is the least rotten. Under the nearly 10 years that Stephen Harper was Prime Minister (Feb 2006 to Nov 2015), house prices exploded. In fact, the housing boom pretty much began under his watch. In Feb/2006 the average price of a detached home in YVR was $705k. 10 years later, Feb/2016, that soared to $1.816 million. Compare that to the 5 years from Feb/2016 to Feb 2021 (under Trudeau). In Feb/2021, the average price of a detached home in YVR was only $1.865 million, which means after inflation the cost of a detached home in Vancouver actually dropped in those 5 years. So to suggest Conservatives may be best for housing… not so sure the track record shows that.

harper and flaherty definitely helped get the ball rolling for our ongoing housing debacle.

#80 crowdedelevatorfartz on 09.07.21 at 7:25 pm

@#67 Faron.

“But, once the spectre of looser restrictions comes up, people jump awake on the issue because there is no use for a semi-auto rifle for the vast majority of Canadians!”

+++

Illegal guns owned by people with no gun licenses will not stop or be affected by ANY new laws the Libs might bring in.

As a city dwelling gun owner for many years I listened in bemused silence at the anti gun lobby.
The ignorance is amazing.
Go on the RCMP website and look at what is involved in obtaining a firearms license.
It aint easy.

Two observations.

When I go to the local gun range where anyone…..anyone …. Licensed or not can shoot a firearm with supervision..

The most excited “newbies” that can’t wait to shoot a gun… any gun…. are women.
And most of them are better shots than “newbie” men.

My second observation was from some friends that were vacationing in Florida a few years back and a hurricane hit.
ALL the hotel staff left.
The guests were on their own and they gathered in the 3rd floor gym for safety.
Power went out.
The looting started in the local neighborhood stores.
The hotel was left alone…
However after the first 3-4 hours… several of the big, burly bodybuilder type guests smashed their way into the candy machines and the water/pop machines and took EVERYTHING for themselves….way way more than they needed.
All the other guest(children included) were not offered or given anything.

The next day the police came by when they saw the guests waving and got them help.

As for the “Brutes” with candybars…..
Winner takes all.

#81 Do we have all the facts on 09.07.21 at 7:26 pm

In 2020 the net natural population growth in Canada (births minus deaths) was only 70,000 persons. The net gain from immigration between 2019 and 2020 was 178,000 persons resulting in total population increase of 248,000 persons.

By September 2021 the total population of Canada had increased by 390,000 persons due to a substantial increase in net immigration. An interesting statistic recorded by CMHC was that new household formations in 2021 are projected at an all time high of 210,000 households due to a substantial increase in net immigration since 2016.

However new household formations are projected to decline by a minimum of 10,000 households per year from 2021 through 2026 in spite of record high immigration.
This decline is due to our aging population.

It is projected that 290,000 new housing units will be completed across Canada in 2021. Claims of a shortage of supply seems to be based on the types of units being constructed and location of the units. As I mentioned in a earlier contribution to this blog it might be prudent to encourage job creation in areas of Canada where a supply of affordable housing exists or could be constructed at a more reasonable cost.

By 2041 CMHC is projecting that new household formations will decline to 150,000 households per year as our current population ages. The Liberal promise to build 1,400,000 additional affordable homes to resolve the current housing crisis seems to indicate that the current construction of 290,000 housing units per year to satisfy fewer than 200,000 new household formations per year is not adequate.

Over the next five years CMHC has projected a total of 950,000 new household formations across Canada and that the current rate of housing completions would add a minimum of 1,450,000 new housing units by 2026.

Do we really need to support the construction of 1,400,000 or even 1,000,000 additional units? Perhaps it might be time to try matching current construction activity with location and affordability.

Hollow and insincere promises are the last thing Canada needs. Time to address housing affordability in a more responsible manner.

#82 SoggyShorts on 09.07.21 at 7:29 pm

#50 crowdedelevatorfartz on 09.07.21 at 5:04 pm
@#7 Faron


MORE gun regs aren’t going to stop ILLEGAL guns in the hands of people who dont have gun permits.
Illegal gun owners who seem to …..Live in urban areas.

Smoke and mirrors for gullible voters.
*********************
I’ve often wondered if this is true.
I mean the “bad guys” aren’t manufacturing guns, right? So aren’t a significant amount of them coming from “good guys” through theft, or good guys going bad?

If there were no guns to steal then only smuggling would create “new guns”, right? So more gun regs on legal guns should in fact have some impact on illegal guns.

Australia has loosened its gun laws over the last 25 years and the result has been… more guns and more gun violence.
There’s a pretty clear connection I think.

#83 Boo...mers. on 09.07.21 at 7:29 pm

#76 Howard on 09.07.21 at 7:10 pm
#68 Barb on 09.07.21 at 6:48 pm
Young-ish people unfortunately won’t understand any of this post. They want things NOW versus what the rest of us did…worked and skimped and saved for 30+ years.

Comprehension isn’t what it used to be.
Probably just trickled down from T2.

——————————-

This unsubstantiated evidence-free garbage again, Barb?

Do I really need to show you the stats showing that Millennials own less than a quarter of relative wealth in society that Boomers owned AT THE SAME AGE?

——————————-

Barb, we’ve given the youth “instant on-demand everything” and you are wondering why they lack patience? Why they don’t want to wait 30 years for something?

Howard, even though the expectations of millennials are high, they have been held back with key life milestones because of policies and employment opportunities lacking Later done with school. Later married. Later children. Later home, if at all. All this retardation of progress shows up and has been showing up for over a decade. Has been talked about and shoulder shrug. I would like to see your data, to see if the trend is improving or not.

Many of these millennials started small businesses as employment opportunities were not there. How are they being treated in this pandemic? I think mostly as customers to pile debt onto for benefit of bank lending stats.

#84 Adam on 09.07.21 at 7:35 pm

#74 Howard on 09.07.21 at 7:05 pm

You’re cherry picking by using Vancouver as an example. Vancouver was insane during Harper’s tenure, but it was the ONLY place that was so. Trudeau basically turned all of Canada into Vancouver.

———————————————

Toronto is not, despite what many think, the centre of the universe. The Cons left Vancouver out to dry and did nothing to curb the housing prices from nearly tripling in price in his 10 years, so why would anyone think the Cons would somehow cause prices to drop? NEWS FLASH… no party will drop housing. Housing will NOT drop. We’re past that now. Prices in Vancouver are barely where they were 5 years ago in 2016. They have been flat for 5 years. If anything, get ready to hit $2.5 million average detached price.

#85 Kato on 09.07.21 at 7:37 pm

#73 Faron on 09.07.21 at 7:03 pm

Thanks to a brief look at the PPC web site (gag) I learned that ~2million Canadians own guns. That’s less than 10% of the total population. Perhaps more like 20% of the voting age pop (don’t care to dig out the numbers). Not a tiny minority, but certainly a minority.

No matter how you slice it, the majority of Canadians want nothing to do with a gun.

If you need a rifle to hunt with, you can get one. Take a class, fill out the paperwork, get a locking case etc etc. I’ll grant you that it’s a burden and for people who depend on subsistence hunting, perhaps that’s an unfair one. But, those people are few. The alternative is the US and their more than daily mass shootings. Sure, it’s not a direct nor a simple path from here to there, but there is a definitive link.

Arguments for relaxing restrictions boil down to either wanting more toys (I get it, guns are fun to shoot). Or to wanting “self protection”. Neither of those arguments come even remotely close to passing muster for making it easier to get a semi-auto rifle. Nada.
_________________________

Not many of us, but I am a rural resident with one messed up hand. I get by with a bolt action rifle for scaring off coyotes (would only kill them to save my dog) and other farm tasks but a semi-auto would be easier for me and my gimpy hand to use. As I said, I get by, but if one were available (that isn’t a 10lb SKS) that would be my reason for buying (not as a toy or for “self defence” ).

#86 Drew on 09.07.21 at 7:37 pm

How we would we know that when there are foreigners and billionaires and foreigner billionaires to blame.

#87 NOSTRADAMUS on 09.07.21 at 7:42 pm

BUNT THIS ONE!
I think I will bunt this one out and see if I make first base. I suspect before too long Realtors will be paying VIG, (vigorish) to the mob in order to get the cash to keep their monthly desk fees up to date. Or they can search out loan sharks, or as a last resort, there is always the corner Pay Day loan office. They have always been so accommodating. Before too long don’t be surprised to read about some former rock star realtor looking to re-jump his career by claim to have been abducted by a U.F.O. I am on my throne and I will not step down.

#88 Capt. Serious on 09.07.21 at 7:44 pm

Vote Libs because they’ll do less than half of what they promise to do. They can run on that record.

#89 Faron on 09.07.21 at 7:55 pm

Sorry, Garth for this long debate. Feel free to ask it to be closed.

#81 crowdedelevatorfartz on 09.07.21 at 7:25 pm

@#67 Faronobvious

Can we please get it straight that I agree with you that gun control and criminal enterprise involving guns are weakly linked, if at all? For the third time, I AGREE WITH YOU. Tone down the fartz man, you can’t seem to hear over them.

WRT women and guns. My bad. Out of respect for you I will try to be more respectful rhetorically. I chuckle and am chagrined when I see marketing like that for the “tactical” mini14 because the subtexts of those ads is blatant. I know desire for gun ownership is far more complicated.

WRT to your Florida experience. All I have to say is… sounds like Florida.

Just kidding.

Actually, what I have to say is… you saw people (in a heavily armed US state I might add) looting physical goods. First, leaping to kill from loot is insane. People stealing crap from stores doesn’t mean they are going to shoot you. Second, do you think knowing that everyone around you is armed would make things feel more safe in that situation? Result in fewer shootings?

As soon as the self-protection door is opened you are on a path of mutually assured destruction that leads everyone to being armed to the teeth. Now that lefties are buying guns in the US, it won’t be much longer there. Unlike nukes, MAD with firearms means there is a gun in every household that will then certainly be used in suicides, accidents, spousal murder and almost surely mass shootings. Last time I looked, strength of gun control laws is directly correlated with gun-related deaths in many nations. Sure, correlation may not mean causation, but it seems like a pretty obvious result.

#90 Ustabe on 09.07.21 at 7:58 pm

While we all want Justin to go I ask you to make informed choices.

The CPC until recently held Derek Sloan in caucus. Still has David Sweet and Cheryl Gallant as nominees.

Ask yourself why.

Ask yourself why Kenny, Ford, Moe, et all are not stumping/being courted/representing.

The internals in the back room of the CPC are not good right now and if they are sent to Ottawa to run this country they will spend more time eating their own and jockeying for position and knives out for the Toolman than addressing the issues.

You are being sold a bill of goods from marketing but the manufacturing and production side of things are non-existent.

so, yes, vote accordingly.

#91 Faron on 09.07.21 at 8:10 pm

#61 BillyBob on 09.07.21 at 5:41 pm

So, you agree with what I’ve been saying about Sail Away? Welcome aboard! Unfortunately, if you weren’t making a crude and weak argument based on disagreement, that means your weakness and crudeness is simply part of your nature rather than an adopted, failed rhetorical approach. Bummer.

#92 Faron on 09.07.21 at 8:46 pm

#85 Kato on 09.07.21 at 7:37 pm

Thanks for the insight and data point. Bummer about your hand. Hope there’s a “you should see the other guy” joke in there for you at least.

#82 SoggyShorts on 09.07.21 at 7:29 pm
#50 crowdedelevatorfartz on 09.07.21 at 5:04 pm
@#7 Faron

There’s a recent The Daily podcast about how Mexican gangs get their guns and a long-shot attempt of the Mexican gov’t to sue US gun manufacturers. Mexico has the most strict gun laws anywhere yet, obviously, a bit of a drug cartel gun violence problem in some parts. They get smuggled in from the US. I’d venture that having the US as a neighbour doesn’t help reduce smuggling into Canada either.

#93 crowdedelevatorfartz on 09.07.21 at 9:05 pm

@#89 faron

I also found it rather strange that in less than one week after the Nova Scotia killings last year ( by an unlicensed gun owner with illegally obtained guns who would not be affected by any new legislation) ……the Trudeau govt unveiled their new gun platform which banned 1500 types of firearms….

1500 types of firearms that were specifically identified and categorized…

When, in God’s green earth has ANY Canadian govt agency completed paperwork that fast in the last 30 years?

Cynics might say that the Libs were sitting on the legislation….waiting for a massacre…..ready to release it…….to “prove” they cared….?

#94 Quintilian on 09.07.21 at 9:06 pm

#60 crowdedelevatorfartz makes non sequitur statements.

I have more faith in humanity than you do, but I do understand there is evil in this world.

But, according to the great Leibniz, that is the trade off God made so that we can have free will.

Now you know why Conservatives exist.

#95 When Will They Raise Rates? on 09.07.21 at 9:06 pm

#91 Faron on 09.07.21 at 8:10 pm

#61 BillyBob on 09.07.21 at 5:41 pm

So, you agree with what I’ve been saying about Sail Away? Welcome aboard! Unfortunately, if you weren’t making a crude and weak argument based on disagreement, that means your weakness and crudeness is simply part of your nature rather than an adopted, failed rhetorical approach. Bummer.

————

Lol what it is with your obsession with Sail Away? Dude, give it a rest.

#96 Howard on 09.07.21 at 9:08 pm

#90 Ustabe on 09.07.21 at 7:58 pm
While we all want Justin to go I ask you to make informed choices.

The CPC until recently held Derek Sloan in caucus. Still has David Sweet and Cheryl Gallant as nominees.

Ask yourself why.

Ask yourself why Kenny, Ford, Moe, et all are not stumping/being courted/representing.

The internals in the back room of the CPC are not good right now and if they are sent to Ottawa to run this country they will spend more time eating their own and jockeying for position and knives out for the Toolman than addressing the issues.

You are being sold a bill of goods from marketing but the manufacturing and production side of things are non-existent.

so, yes, vote accordingly.

————————————————-

Ooh don’t hold back with coded language. Do tell us all about this special insider knowledge you claim to have of nefarious activity within the Conservative Party. I presume these delusions will intensify if O’Toole becomes PM and you’ll come here claiming to have a direct line to a mole in the PMO.

What’s wrong Gallant and Sweet? They represent their constituents. A bit quirky. Are only leftists allowed to participate in the political process?

#97 Ponzius Pilatus on 09.07.21 at 9:10 pm

Talking about mobs.
Sailo’s favourite rioter at the January 6th storming of the Capitol, the Qanon Shaman/Goatman pleated guilty as charged.
I’m surprised he did not plead insanity.
Any judge would have agreed with that, because I think this guy should be certified.
It scares me to think that people with a similar mind set may be attending JT’s campaign stops.
Time for the RCMP to step in.
————————————————-
A man from the US state of Arizona who sported face paint, no shirt and a furry hat with horns when he joined the mob that stormed the US Capitol on January 6 pleaded guilty on Friday to a felony charge carrying a prison sentence of up to 20 years.
Jacob Chansley, 33, who was widely photographed in the Senate chamber with a flagpole topped with a spear, could face 41 to 51 months in prison under sentencing guidelines, a prosecutor said

#98 Valeri on 09.07.21 at 9:14 pm

#84 Adam on 09.07.21 at 7:35 pm

Exactly!
Why do people think it cannot be worse? It can! In Toronto a house costs on average 12 yearly salaries, while in Europe it’s around 14 (in Paris it’s 20!). We won’t be seeing a price decrease ever in these cities (at least not more than 5%). So you might as well relax and enjoy it.

#99 Ponzius Pilatus on 09.07.21 at 9:16 pm

#94 Quintilian on 09.07.21 at 9:06 pm
#60 crowdedelevatorfartz makes non sequitur statements.
——————
Yep.
Thinking before posting/speaking is not his strength.
Would make a great politician.

#100 DON on 09.07.21 at 9:19 pm

#76 Howard on 09.07.21 at 7:10 pm
#68 Barb on 09.07.21 at 6:48 pm
Young-ish people unfortunately won’t understand any of this post. They want things NOW versus what the rest of us did…worked and skimped and saved for 30+ years.

Comprehension isn’t what it used to be.
Probably just trickled down from T2.

——————————-

This unsubstantiated evidence-free garbage again, Barb?

Do I really need to show you the stats showing that Millennials own less than a quarter of relative wealth in society that Boomers owned AT THE SAME AGE?

*******

Please share the stats….I love them there statistical stuff.

#101 Phylis on 09.07.21 at 9:37 pm

#70 crowdedelevatorfartz on 09.07.21 at 6:56 pm

What’s 3rd?
Xxxxxxxx
Prepared remarks for damage control due to Jodi.

#102 Faron on 09.07.21 at 9:51 pm

#95 When Will They Raise Rates? on 09.07.21 at 9:06 pm
#91 Faron on 09.07.21 at 8:10

I’d love to answer you even though your question is based on a faulty premise, but I’m awaiting your response WRT “they”. TTYL.

#103 DON on 09.07.21 at 10:01 pm

I take it there is an election on…who else knows?

Consumer spending in the US and Canada is wobbling. Inflation and shrinkflation on the rise…wages still the same.

What else matters?

#104 Ponzius Pilatus on 09.07.21 at 10:02 pm

To all of those who advocate/participate in violence against politicians, please move to the States.
We don’t need this crap here.

#105 I'm Alright Jack on 09.07.21 at 10:43 pm

I think O’toole has done a masterful job to date. He doesn’t get nearly enough credit. He’s about as anti-Socon as you can get as a conservative, but still wants to point the country in the “right” direction.

I don’t particularly admire my local PC incumbent, but I’ll certainly vote for him. We need some adults in charge of this country for a change.

#106 When Will They Raise Rates? on 09.07.21 at 10:43 pm

#102 Faron on 09.07.21 at 9:51 pm

#95 When Will They Raise Rates? on 09.07.21 at 9:06 pm
#91 Faron on 09.07.21 at 8:10

I’d love to answer you even though your question is based on a faulty premise, but I’m awaiting your response WRT “they”. TTYL.

—————–

Sure seems like an obession to me.

‘They’ are central banks, obviously.

#107 Nonplused on 09.07.21 at 10:51 pm

#48 Ponzius Pilatus on 09.07.21 at 5:02 pm
#38 vanreal on 09.07.21 at 4:24 pm
The one and only thing that government should do is cap real estate commissions. It is ridiculous that the commission is still at the same percentage as when prices were half of what they are now. It should be capped at 1% below 2,000,000 and .5 % above 2,000,000. These people have minimal training and should be paid accordingly
———————
And while they are at it, they should should also cap how much plumbers can charge.
Plumbers and other trades persons are the new elite, many of whom own more than one property, mainly for speculation.
Tax’em hard and tax’em often.

—————————————-

Both of those rates are set in the market. Government interference would do what it always does; create shortages. If the trades schools aren’t pumping out enough plumbers, the likely cause is that wages are too low, not too high.

And then also remember that when you hire a plumber, of the $140 an hour you pay, only about $40 goes to the plumber, on which he pays income taxes. The rest goes to the tool van, the secretary, the shop, the boss, the property tax, gas for the van, carbon taxes on the gas for the van, and income taxes all the way along.

#108 Please, sir on 09.07.21 at 10:59 pm

#75 Faron on 09.07.21 at 7:09 pm
DELETED

…….

Please Garth, more of this

#109 Nonplused on 09.07.21 at 11:16 pm

#67 Faron on 09.07.21 at 6:47 pm

“….there is no use for a semi-auto rifle for the vast majority of Canadians!”

Umm, hunting. Somebody correct me but I don’t even think you can get a firearms acquisition permit unless you have a WIN or are a member of a gun club. Plus the background check is pretty robust.

Maybe farmers can get one too because coyotes. It is legal to shoot nuisance animals that are bothering your livestock. A mini-14 would be ideal for that. A 22-long is good for that too, but not as certain to kill, especially a larger animal at range. Oh and guess what? Many 22-longs are semi-automatic too.

Heck, other than shotguns (used to hunt birds) I am not sure what guns are not semi-automatic anymore.

There probably is no use for a semi-auto rifle for a majority of Canadians (don’t know about “vast”), but the majority of Canadians do not own one. I don’t think that is because of the laws. It is probably more a factor of the fact that they are hard to qualify to own, cost a lot of money, and self defense isn’t the same issue here as it is in the US.

Meanwhile any old anybody can walk into a Bass Pro or Cabela’s shop and walk out with a 70 pound compound crossbow with a scope in about an hour for $400. Not as easy to conceal for sure, but you can kill somebody with that at 30 meters with very little training.

And now thanks to the wild world wide internet, all you need is a 3D printer and a VPN and you can print your own “ghost gun”. Nobody will even know you have it. It takes a little ingenuity, but that kind of knowledge circulates fast among those who are interested.

#110 Nonplused on 09.07.21 at 11:25 pm

#73 Faron on 09.07.21 at 7:03 pm
#66 Nonplused on 09.07.21 at 6:20 pm

“Arguments for relaxing restrictions boil down to either wanting more toys (I get it, guns are fun to shoot). Or to wanting “self protection”. Neither of those arguments come even remotely close to passing muster for making it easier to get a semi-auto rifle. Nada.”

I don’t think anyone is arguing to make it easier to get a semi-auto rifle, just that the current restrictions are sufficient.

I would advise not to get too hung up on the “semi auto” bit. As I said in my last post, other than shotguns I don’t think there are many guns sold today that are not semi-auto. Maybe for target shooting. But those are small caliber high velocity specialized guns, and very expensive.

I bet you can still get a “bolt action” if you want one, but it will still have one in the barrel and 5 in the clip.

#111 canuck on 09.07.21 at 11:29 pm

DELETED

#112 Nonplused on 09.07.21 at 11:34 pm

#82 SoggyShorts on 09.07.21 at 7:29 pm

“Australia has loosened its gun laws over the last 25 years and the result has been… more guns and more gun violence.
There’s a pretty clear connection I think.”

A pretty weak correlation at best. One would have to look at the number of legal guns owned by legal gun owners and the increase in the rate of gun violence attributed to that group to rule out the possibility the “bad guys” aren’t just getting more illegal guns and using them for their illegal pursuits. Never underestimate how ingenious the bad guys are.

#113 Faron you should post more on 09.08.21 at 12:05 am

Two most obnoxious posters in Faron and Sail Away are both Americans.

Go figure.

#114 When Will They Raise Rates? on 09.08.21 at 1:41 am

#104 Ponzius Pilatus on 09.07.21 at 10:02 pm

To all of those who advocate/participate in violence against politicians, please move to the States.
We don’t need this crap here.

———–

How was the rock thrower not arrested on the spot, and how was an angry mob even allowed that close to the Prime Minister of Canada?

a) Our intelligence agencies, RCMP, etc are totally incompetent and should be fired immediately

b) Agent provocateaurs

#115 Damifino on 09.08.21 at 2:38 am

I guess I always knew this but… under the British parliamentary system the leader of the party with a plurality does not necessarily become Prime Minister.

Assume the Liberals lose several seats but the NDP gains a similar amount. It’s quite possible a working coalition could be formed. There already is one anyway. The only difference would be the ratio of seats between the Liberals and the NDP. Nothing else really changes.

As I understand it, the Governor General can offer the existing PM (in this case, the same guy who gave her the job) the opportunity remain in place if she is convinced T2 has the confidence of the house.

I’m sure Jagmeet would jump at that given how distasteful the alternative would be. It would be a fabulously interesting turn of events, if nothing else.

But of course, it would be something else.

#116 Serge on 09.08.21 at 3:11 am

Faron:

Gun violence is not the only issue. It is hyped by media. For instance, there are far more deaths due to opioid crisis. Btw, that stuff is banned to import, manufacture and sell. Which is an evidence that banning guns will not work either. It is much less hassle to get a Glock from street dealer who smuggled it rather steal it from legal owner. We are not Australia – we have a border with US, which is mostly uncontrolled.

Anyhow it now becomes normal that other people are Ok to remove freedoms from other group to which they don’t belong. I bet majority will be ok to ban and confiscate sports cars, as they have no reasonable use same as guns, and majority do not own them anyways. Then may be motorcycles as they are also dangerous. Politicians should not use “if it saves even one life” rhetoric, as we can loose many freedoms that way and eventually they will come after you and nobody will stand behind.

Keep in mind: gun license is the only official document in Canada which you can carry to prove you don’t have a criminal background. So if you don’t have it – I’d suspect you are more likely to be a criminal rather than the licensed gun owner. Yet punishing ALL gun owners anyhow is the solution to gun violence, as those folks are suspected because they legally possess guns. Sure let’s take their guns. Now what’s about raping? All men potentially could do this crime, right? Your solution?

#117 Howard on 09.08.21 at 4:05 am

#100 DON on 09.07.21 at 9:19 pm

This is US data. In Canada the disparity is likely greater given the larger housing bubble.

https://www.cnbc.com/2020/10/09/millennials-own-less-than-5percent-of-all-us-wealth.html

Despite making up the largest portion of the workforce, millennials controlled just 4.6% of U.S. wealth through the first half of 2020, according to data from the Federal Reserve.

In 1989, when baby boomers were around the same age as millennials are today, they controlled 21% of the nation’s wealth. That’s almost five times as much as what millennials own today.

Many previous reports have found that millennials are, on average, worse off financially than their parents and grandparents were at the same age, despite being better educated.

———————————–

A small part of this disparity accounts for the fact Boomers were a larger proportion of the population in 1989 than Millennials are today. But that only closes the gap by a few percentage points.

#118 Kato on 09.08.21 at 6:27 am

#110 Nonplused on 09.07.21 at 11:25 pm
#73 Faron on 09.07.21 at 7:03 pm
#66 Nonplused on 09.07.21 at 6:20 pm

“Arguments for relaxing restrictions boil down to either wanting more toys (I get it, guns are fun to shoot). Or to wanting “self protection”. Neither of those arguments come even remotely close to passing muster for making it easier to get a semi-auto rifle. Nada.”

I don’t think anyone is arguing to make it easier to get a semi-auto rifle, just that the current restrictions are sufficient.

I would advise not to get too hung up on the “semi auto” bit. As I said in my last post, other than shotguns I don’t think there are many guns sold today that are not semi-auto. Maybe for target shooting. But those are small caliber high velocity specialized guns, and very expensive.

I bet you can still get a “bolt action” if you want one, but it will still have one in the barrel and 5 in the clip.

________________

You would be wrong on this one. Most lightweight rifles (larger than .22 Long Rifle calibre) were made prohibited by Trudeau’s Order in Council. The SKS (a “weapon made for war” that you can get with a detachable magazine, that uses the same cartridge as an AK-47) is still available because of its popularity with subsistence hunters. There are also expensive hunting semi-auto rifles but most all affordable non-restricted semis are now prohibited.

Restricted can only be used for sport shooting or target shooting at an approved range. Prohibited (resting in the gun safes of many since the OIC) can be used for nothing.

And, Canadian gun laws being what they are, manually operated actions (lever, pump, bolt) do not have the same magazine size restrictions as semi-auto. Most use the 5 round limit anyway but there are exceptions.

The licensing side is more thorough than most think. Complete the course, get your spouse to sign that it’s okay for you to obtain a permit, wait 8 months or so while they run your info. Now I get criminal record checked every single day and if something pops up an RCMP officer shows up at my door to collect.

#119 Another Deckchair on 09.08.21 at 7:09 am

@117 Howard

also:

“Many previous reports have found that millennials are, on average, worse off financially than their parents and grandparents were at the same age, despite being better educated.”

Comparing apples to oranges.

Education throws the stats out the window. With “better education”, now you “need” an undergraduate degree, a PhD, then you start earning at about 30, or later, when you have lots of educational debt.

Meanwhile, if one had started work like in the “olden days” with only a high school diploma (or less in many cases) you had at least a decade more of income.

And, if you had a pension plan at (say) GM or Ford or our military, by the time a PhD starts working, you were half way to retirement.

(I think it’s better now, but then people want education and the money that a 17 year old starting full time worker would have – you can’t have it both ways)

#120 the Jaguar on 09.08.21 at 8:05 am

“I have to say, we are anticipating a more open market,” RBC chief executive Dave Mckay told analysts on the company’s earnings call in late August. “We’re anticipating disruptive tech platforms that we’ve talked about for the last five years.” (snippet – NP)

What an incredible accelerant these two pandemic years will be to industry and everyday life. A gift to some, like the Banks. It’s going to be an implosion of the way they are currently doing business. No more ‘five and dime, everyman’ structure with the headache of bricks and mortar and the tiresome ritual of trying to recruit the qualified from a poor quality labour force pool.

Like ‘Woolworths’ the idea of being a general merchandiser to the masses is going to go the way of the household VCR. They will just pull the key profitable service offerings together in digital platforms and leave the hardware, fabric and notions, and lunch counter to the brutes. They have no choice really.

It will happen similarly in other industries. Banking, travel, and other services offered will be dependent on the new class structure coming. That structure will be based on choices we make. Responsibility. Simple concept.

While we were sleeping, or otherwise preoccupied with case counts, who owns or has the right to own a Smith & Wesson Model 29, hand wringing over personal pronouns and inclusion, reality has been closing the distance in this race we are running to build back better. Our divisions have never been so deep, and the ‘great decamping’ is already underway. The smart money caravans traverse the horizon.

Like that line from the Little Prince. “It’s only with the heart that one can see rightly. What is essential is invisible to the eye”. Maybe a little more visible this time for those paying attention. What a great time to be alive.

#121 crowdedelevatorfartz on 09.08.21 at 8:15 am

@#101 Phylis
“Prepared remarks for damage control due to Jodi.”

+++

I believe her “tell all” book comes out next week.
( less than a week before the election. Thanks Jody! :)

The same day Elon Musk launches 4 “tourists” into a 3 day orbit……

#122 ImGonnaBeSick on 09.08.21 at 8:25 am

#119 Another Deckchair on 09.08.21 at 7:09 am
@117 Howard

also:

“Many previous reports have found that millennials are, on average, worse off financially than their parents and grandparents were at the same age, despite being better educated.”

Comparing apples to oranges.

Education throws the stats out the window. With “better education”, now you “need” an undergraduate degree, a PhD, then you start earning at about 30, or later, when you have lots of educational debt.

Meanwhile, if one had started work like in the “olden days” with only a high school diploma (or less in many cases) you had at least a decade more of income.

And, if you had a pension plan at (say) GM or Ford or our military, by the time a PhD starts working, you were half way to retirement.

(I think it’s better now, but then people want education and the money that a 17 year old starting full time worker would have – you can’t have it both ways)

—-
Howard, Quintillian, Sunshowers, Foron, millenial realist…

Millenials and their tribulations… A result of getting all of your information from sensational headlines… I wonder if they’re considered the most easily manipulated generation…

#123 Phylis on 09.08.21 at 8:29 am

#100 DON on 09.07.21 at 9:19 pm

This is US data. In Canada the disparity is likely greater given the larger housing bubble.

https://www.cnbc.com/2020/10/09/millennials-own-less-than-5percent-of-all-us-wealth.html

Despite making up the largest portion of the workforce, millennials controlled just 4.6% of U.S. wealth through the first half of 2020, according to data from the Federal Reserve.

In 1989, when baby boomers were around the same age as millennials are today, they controlled 21% of the nation’s wealth. That’s almost five times as much as what millennials own today.

Many previous reports have found that millennials are, on average, worse off financially than their parents and grandparents were at the same age, despite being better educated.
Xxxxxxxx
Better educated eh? Maybe time is spent better elsewhere if financial betterment is the goal.

#124 TurnerNation on 09.08.21 at 8:30 am

Nice pop in the renewable energy names I posted on Saturday. It’s something. Fleeting or not.

….

From the ‘back to normal’ dept.
Of course control over travel, economy. A slow wind-down in the (former) First World Countries
This is PERMAMENT – soon a global-based passport. Like a new global order, wink wink.
No longer do yo have free passage or freedom of movement. Yep CV did that too.
If you can convince yourself this still is over ‘health’…

.Everything you need to know about the new travel rules coming into effect Sept. 7 (ctvnews.ca)

.Ontario woman says she was denied boarding Air Canada flight despite following new COVID-19 requirements (toronto.ctvnews.ca).

.No. 10 not ruling out ‘firebreak’ lockdown if Covid cases rise (theguardian.com)

.Delta variant outbreak threatens Singapore’s ‘living with Covid’ model (cnn.com)

—————
—————
No fun allowed in Kanada! Wow these people should move to USA or Mexico and get out of this hole.
Fun is fined. Back to normal any time soon guys!! 2022-23.

.After frat party racks up $5K in fines, UBC vice-president urges students to follow public health orders
The vice-president of the students portfolio at a B.C. university is speaking out after a wild frat party involving hundreds of students last weekend racked up $5,000 in COVID-19 related fines.
bc.ctvnews.ca

#125 crowdedelevatorfartz on 09.08.21 at 8:35 am

@#119 Deckchair
“Many previous reports have found that millennials are, on average, worse off financially than their parents and grandparents were at the same age, despite being better educated.”

+++++
Expensive Education is to blame?
Nah.
Blame easy credit.

It was much, much harder to get credit 30, 40, 50 years ago.
Debit cards were just coming into vogue.
Credit cards were not easy to get and the interest rates…
Interest rates were brutal so a lot of people waited until they could pay 100% cash……
The banks were king.
Car loans, etc were BANK loans…. You had to go to the bank on hand and knee for a loan.
The car industry hadn’t figured out what a cash cow the loan was yet.
Oh.
We also didnt spend thousands on the latest phone or the endless tattoos.
But.
If you decide to go into debt for a university loan…. well I guess the payback will be the barrista job at Starbucks.
Where you can quote obscure German philosophers while pouring a quintillian triple frappacinos , no fat, extra sugar to the equally tattoo’ed, hyperstressed, texting, sheeple worker bees that are shuffling to the salt mine… awesome.

#126 Prince Polo on 09.08.21 at 8:43 am

Catching up on some old commentary…

#65 the Jaguar on 09.04.21 at 6:19 pm
Enough about the banks. The fate of the nation hangs by a thread. The english language debate is this coming thursday, and O’Toole needs to deliver the knockout punch. Something along the lines of ‘You had an option, sir’.
Jody Wilson Raybould’s book doesn’t premiere until September 15th, so a strategy is needed. Rope a dope won’t cut it. The key will be getting T2 to lose his composure. Find his hot button and press hard.

How about Peppy & Prepared PM O’Toole places a signed copy of JWR’s book on his debate podium? JWR for GG!

#127 LC on 09.08.21 at 8:49 am

re: #3 My Body My Choice on 09.07.21 at 2:46 pm

How to solve the housing crisis in Canada:

Couldn’t agree more…have you considered politics?

#128 Phylis on 09.08.21 at 9:01 am

Well, I will say education requirements for most occupations have increased substantially. Electricians, firefighters, paramedics. Bachelors upped to masters. Teachers too. Part of the problem or solution?

#129 Phylis on 09.08.21 at 9:03 am

#125 crowdedelevatorfartz on 09.08.21 at 8:35 am
And hair dye, you forgot the hair dye.

#130 Another Deckchair on 09.08.21 at 9:05 am

@123 Phylis

“Better educated eh? Maybe time is spent better elsewhere if financial betterment is the goal.”

well, but then, two ex. PhD colleagues that I know and work in Ontario government, and most definitely not boomers, make close to 180k and 260k respectively. (found on Ontario sunshine list)

Plus pensions… It’s not the slow-but-steady climb to wealth that their parents had, it’s slow-slow-slow-holy-s**t path now.

Blanket statements like the one that started this never hold up – apples to oranges comparisons just don’t work but make great headlines for politicians and for those with no comprehension

#131 Howard on 09.08.21 at 9:32 am

#119 Another Deckchair on 09.08.21 at 7:09 am
@117 Howard

also:

“Many previous reports have found that millennials are, on average, worse off financially than their parents and grandparents were at the same age, despite being better educated.”

Comparing apples to oranges.

Education throws the stats out the window. With “better education”, now you “need” an undergraduate degree, a PhD, then you start earning at about 30, or later, when you have lots of educational debt.

Meanwhile, if one had started work like in the “olden days” with only a high school diploma (or less in many cases) you had at least a decade more of income.

————————————-

I don’t see how it’s the fault of young people that companies require masters degrees for administrative assistant positions? The Boomers running the country have ensured a chronic labour over-supply, leading to credential inflation. I think most young people would love to go back to the 70s when you can show up drunk at a bank the day after highschool graduation and be hired to a well-paying, well-trained position with a gold-plated pension. Perhaps once Millennials take control of the levers of power, things will shift back in that direction. Biden certainly seems to be taking his cues from these ideals.

#132 TurnerNation on 09.08.21 at 9:41 am

Kanada: life is different here. A Former First World Country.
Hope nobody has a big home to heat.
Our global rulers want us back in the stone ages, huddled around candles.

Uhh who made these ‘pledges’ – sending us into financial ruin?
………….
“Pricing carbon to combat climate change
Higher prices are needed to drive emission cuts in Canada and Australia, Moody’s says
By: James Langton September 7, 202114:52

For many countries, a US$25 per tonne price on carbon would be enough to drive the emission reductions needed to meet global commitments. For Canada, however, even pricing carbon at US$75 per tonne would not be high enough to motivate sufficient cuts, says a new report from Moody’s Investors Service.

However, for some economies, such as Canada and Australia, even with a price as high as US$75 per tonne, these countries “would fall short of their pledges,” it said”

#133 Dharma Bum on 09.08.21 at 9:55 am

On September 20th, do your part to GET RID OF that smug, petulant, smarmy, arrogant, ignorant, corrupt, virtue signalling, identity politicking, blackface wearing, lying, stuttering, hesitating, deflecting, childish, pseudo feminist, communist, economy destroying, financially retarded, smirking, stupid sock wearing, costume sporting, money stealing, moistly speaking, dimwit.

MAKE CANADA GREAT AGAIN!

#134 Boo...mer on 09.08.21 at 9:56 am

#117 Howard

4.6% in US. WOW. I bet you it is not different elsewhere in developed world.

1/5th of what Boomers controlled at the same age.

Shhhh Millennials. What are you complaining about?

Be content. Be happy. BE QUIET! Just TAKE IT!

And worry not that the Pandemic is sure to disproportionately effect you the most because of the delays that it is likely to cause in your life.

Any doubt that the spending Justin is doing is money that future generations will be paying for? Any doubts that education will be delayed further? Social life? Starting a family?

HOUSE? What millennial can afford $1.5m for a fixer-upper SEMI!

#135 SPACE, the final frontier on 09.08.21 at 10:05 am

HA HA HA!

$1.2M plus closing costs. 40 foot containers are bigger.

“Hey, Real Estate agent, this thing seems small inside. How can we make it seem larger?”

“REMOVE THE DRYWALL, turn walls into see-through inside!”

https://www.realtor.ca/real-estate/23488944/40-beresford-ave-toronto-high-park-swansea

If this $1.2M house is not on the market to launder money, I honestly don’t know what is. No one in their sane mind would buy this, even to stack another 40 foot container on top…because why would you spend $1.3M to spend another $1M to live in essentially two 40 foot containers stacked on top? IN THE 2ND BIGGEST COUNTRY IN THE WORLD!

#136 Howard on 09.08.21 at 10:10 am

#119 Another Deckchair on 09.08.21 at 7:09 am

39% of Millennials have a Bachelor degree vs 25% of Boomers.

Let’s leave aside graduate degrees since, although higher in Millennials, still a low percentage in either generation.

https://www.pewresearch.org/social-trends/2019/02/14/millennial-life-how-young-adulthood-today-compares-with-prior-generations-2/

So that extra 14% of Boomers starting work at 18 instead of 22 was sufficient to account for a 5-fold disparity in wealth by the time each generation reached their mid-30s?

I guess this had nothing to do with it, right :

https://www.washingtonpost.com/news/wonk/wp/2017/04/20/census-young-men-are-making-much-less-than-they-did-in-1975/

Over the past four decades, young American workers saw their average incomes decline by 5.5 percent after adjusting for inflation, according to new figures published Wednesday by the U.S. Census Bureau. In 1975, workers aged 25 to 34 had a median personal income of $37,000 in modern dollar terms. In 2016, that number was down to $35,000.

Source report: https://www.census.gov/content/dam/Census/library/publications/2017/demo/p20-579.pdf

I wonder what happens to wealth accumulation when the cost of living skyrockets while salaries stagnant for 40 years?

#137 Boo...mer on 09.08.21 at 10:21 am

#123 Phylis

Xxxxxxxx
Better educated eh? Maybe time is spent better elsewhere if financial betterment is the goal.

yyyyyyyyyyyyy

Yeah, blame the millennials.

Corporations didn’t sell them out and move all manufacturing to China and the well paying jobs along with them to undermine the labour and union push for better working conditions and pay.

996 was just “outlawed” in China. I say “” because who knows if it really will be. In what world is 9AM to 9PM 6 days a week not slave labour? Would you want your millennial child to be treated this way? Would you want to work those hours? You think they make enough money to grow wealth?

Neither do the millennial in the gig economy here. “Hey millennial, fetch me my UBER EATS McDonalds on your e-bike that will last a year at most. Now, buy a house for $1M with that UBER EATS salary!”

#138 Howard on 09.08.21 at 10:25 am

#130 Another Deckchair on 09.08.21 at 9:05 am
@123 Phylis

“Better educated eh? Maybe time is spent better elsewhere if financial betterment is the goal.”

well, but then, two ex. PhD colleagues that I know and work in Ontario government, and most definitely not boomers, make close to 180k and 260k respectively. (found on Ontario sunshine list)

Plus pensions… It’s not the slow-but-steady climb to wealth that their parents had, it’s slow-slow-slow-holy-s**t path now.

Blanket statements like the one that started this never hold up – apples to oranges comparisons just don’t work but make great headlines for politicians and for those with no comprehension

—————————————

Fewer than 1% of Canadians have a PhD. So the number went from almost none among Boomers to slightly more than almost none among Millennials. Negligible impact on the overall numbers.

But don’t let that stop you from using it in your gaslighting toolkit.

#139 Shawn Allen on 09.08.21 at 10:28 am

Thank You to Blacksheep who at #26 reposted my explanation of how borrowing money creates or prints new money and who called my post mandatory reading.

Blacksheep is clearly an astute judge of quality information.

To be clear, my post about how banks work should not be taken as any kind of criticism of banks. It’s simply an explanation. Our economy cannot function without banks and our standards of living would be like the dark ages without banking. It is indeed a wonderful life we live these days.

#140 crowdedelevatorfartz on 09.08.21 at 10:35 am

https://www.citynews1130.com/2021/09/08/bank-canada-interest-sept-2021/

No rate rises for at least 6 months debtors!

And Canada is still spending $2 Billion per week on Quantitative “easing” purchases.

Wooo Hooo!
Dig that hole deeper Justin!

#141 Faron on 09.08.21 at 10:36 am

#106 When Will They Raise Rates? on 09.07.21 at 10:43 pm

Whew, for a second there I thought you were going to say buyers and sellers in the bond markets.

#122 ImGonnaBeSick on 09.08.21 at 8:25 am

Can you be a good chap and tell us where we should go for information? You seem to have uniquely privileged access.

#142 Yukon Elvis on 09.08.21 at 10:36 am

#116 Serge on 09.08.21 at 3:11 am
+++++++++++++
You nailed it.

#143 -=withwings=- on 09.08.21 at 10:39 am

What is the best outcome if you crave cheaper values?

That’s a majority government. Especially a blue one. Conservatives will not increase the taxes on banks as T2 has vowed.

OK.

That would simply find its way into higher mortgage and loan costs.

Which would LOWER values. Every other option would make borrowing cheaper which would RAISE values.

Taxing banks is the only thing proposed that might lower values. Everything else is goosing the markets which will raise prices…

#144 Jay (Not that one) on 09.08.21 at 10:57 am

>Cons want locked-in mortgage terms extended to seven and ten years, guaranteeing low rates for longer

I don’t understand…. You can just do that. In fact, I just broke my 10 year mortgage to lock in for another 10 years. The rate was actually great, and if I got it wrong I can just pay another couple grand to refinance again and get an even lower rate.

#145 Jay (not that one) on 09.08.21 at 11:04 am

I will note that the PPC has the only monetary solution to lowering house prices, having the bank of Canada drop its target inflation rate. Some people think it’s a crazy idea, but given how much liquidity is overwhelming the system after two financial collapses, it seems like the only sane idea to me. There is too much money, it’s going anywhere it can.

#146 Woke up this morning... on 09.08.21 at 11:08 am

#136 Howard

WHAT ARE YOU TALKING ABOUT HOWARD?

We could talk about facts and figures and statistics…but the new iPhone made by Chinese slave labour is coming out soon and will deliver nearly 50% margin for Apple!

Who cares about your privacy, but not about those who make the iPhone. Well, that’s not true, they did install nets around the dorms to prevent the employees who make the iPhones from jumping to their death to end the misery of 9AM to 9PM 6 day a week iPhone production.

Also, new Nintendo Switch is coming out dude!

Finally, UBER EATS is hiring!

And hey…IVERMECTIN HORSE DEWORMER! Did you hear?

Focus on what matters Howard. Stop highlighting real issues here.

How will the Boomers get their ROI if the corporations don’t minimize their tax footprint and be disruptors to the workforce by making everyone a gig worker?

If you work hard millennial, you too can be a “social media influencer”! …which is a fancy title saying “freelance peddler of junk”.

#147 Millennial Realist on 09.08.21 at 11:11 am

The Cons will have way too many internal issues to be an effective governing party.

Yeah, MPs who follow their stated beliefs or represent their constituents instead of bowing to a leader who demands everyone have the same view is a big problem. Who dreamed up this democracy thing anyway? – Garth

#148 MEN AT WORK on 09.08.21 at 11:24 am

#119 Another Deckchair

Meanwhile, if one had started work like in the “olden days” with only a high school diploma (or less in many cases) you had at least a decade more of income.

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

And here is the crux of it! The time eaten up by education requirements pushed people back a decade. The cost when they end, puts them in big debt from the start – Educational Industrial Complex.

What can you do with a high-school diploma today? UBER? DoorDash?

I think to be a Barista one needs a degree, right? Not like those Starbucks machines aren’t prime candidates for automation in the very near future. Which would probably speed up service and ensure consistent accuracy and quality vs. all that human error and cost.

#149 Ponzius Pilatus on 09.08.21 at 11:28 am

#141 Yukon Elvis on 09.08.21 at 10:36 am
#116 Serge on 09.08.21 at 3:11 am
+++++++++++++
You nailed it.
————————————————————-
Sure let’s take their guns. Now what’s about raping? All men potentially could do this crime, right? Your solution?
————————-
Texas Gov. Abbott has the “solution”:

Abbott said the bill does not force rape victims to have children because it provides approximately a six-week window in which to have an abortion or to take a morning after pill. He also emphasized the need to get rapists off the streets of Texas.
“Let’s be clear: Rape is a crime,” Abbott said at a press conference on Tuesday. “And Texas will work tirelessly to make sure that we eliminate all rapists from the streets of Texas by aggressively going out and arresting them and prosecuting them and getting them off the streets.

#150 Quintilian on 09.08.21 at 11:31 am

Power corrupts.

Bitcoin El Salvador

Nuff said, their central bankers and power greedy brokers must be boomers.

#151 Phylis on 09.08.21 at 11:38 am

#137 Boo…mer on 09.08.21 at 10:21 am
#123 Phylis

Xxxxxxxx
Better educated eh? Maybe time is spent better elsewhere if financial betterment is the goal.

yyyyyyyyyyyyy

Yeah, blame the millennials.

Corporations didn’t sell them out and move all manufacturing to China and the well paying jobs along with them to undermine the labour and union push for better working conditions and pay.

996 was just “outlawed” in China. I say “” because who knows if it really will be. In what world is 9AM to 9PM 6 days a week not slave labour? Would you want your millennial child to be treated this way? Would you want to work those hours? You think they make enough money to grow wealth?

Neither do the millennial in the gig economy here. “Hey millennial, fetch me my UBER EATS McDonalds on your e-bike that will last a year at most. Now, buy a house for $1M with that UBER EATS salary!”
Xxxxxxx
One door closes another door opens. I think mills in tech and IT can, it’s a regular theme of the lunch table conversation.

#152 BillinBC on 09.08.21 at 11:49 am

#113
Two most obnoxious posters in Faron and Sail Away are both Americans.

——————————————————————
Can’t wait for the election to be over. Between these two posters, I’ve burned out the scroll wheel on my mouse.

#153 cto on 09.08.21 at 12:22 pm

Liberal, con, ndp, its all the same…
the REAL solution is less debt and cheaper housing, period! There will never be political will to go this route.
This crisis was caused and will be solved with interest rates., but the central banks are just like the politicos.
Rates have been sub 2% since 2008, and for a generation now, in Canada housing commodified investment beats financials hands down and the way the BOC and politicos are going, this will not change for another generation.

#154 James on 09.08.21 at 1:11 pm

#145 Millennial Realist on 09.08.21 at 11:11 am

The Cons will have way too many internal issues to be an effective governing party.

Yeah, MPs who follow their stated beliefs or represent their constituents instead of bowing to a leader who demands everyone have the same view is a big problem. Who dreamed up this democracy thing anyway? – Garth
____________________________________________
Take a look in mirror Millennial. The Liberals are rife with internal issues. Firstly you have a lousy drama teacher that’s a wannabe leader of a country. His lack of real life working class experiences and business skills is what has put us where we are now. You elected a spoiled rich boy who has no idea of how to govern.

#155 James on 09.08.21 at 1:14 pm

#138 crowdedelevatorfartz on 09.08.21 at 10:35 am

https://www.citynews1130.com/2021/09/08/bank-canada-interest-sept-2021/

No rate rises for at least 6 months debtors!

And Canada is still spending $2 Billion per week on Quantitative “easing” purchases.

Wooo Hooo!
Dig that hole deeper Justin!
___________________________________________
Well we could fill it with T2’s bullshit. That would fill it up fast!

#156 Boo...mer on 09.08.21 at 1:14 pm

#149 Phylis

Xxxxxxx
One door closes another door opens. I think mills in tech and IT can, it’s a regular theme of the lunch table conversation.
Xxxxxxx

Perhaps. But it is more complex. Requires more eduction, which takes precious time.

Also…and this is the important part…the doors get smaller and smaller.