Feudalism

“Yet another idiot over his head because he thought real estate was the only answer,” says Dan, sending me a link from the kiddos on Reddit.

I immigrated to Canada 4 years back, 42 y married with 3 kids, single earner and work in IT making 130k. My youngest kid is 1.5 yr and my wife can look for entry level jobs after 2 yrs or so. I can’t afford daycare. I bought my 1st house in GTA in Oct 2020 after losing many bids and 60+ showings. I had to put a bully offer and was able to buy a house. This is my first experience of living in an independent house and the costs that come with it. I put my whole savings towards down-payment (back home savings, RRSP, TFSA).

The house takes 50% of after-tax income. No money to save or put away for an emergency. “Buying the house was the most difficult decision of my life and people who haven’t bought in the pandemic in bidding wars can never understand this. Trust me. I had put bully offers on houses and my offer was rejected lol. After months of trying and going over budget on every single house we liked we ended up paying well over our budget.”

There are two key take-aways from the comments of a person goaded by society into buying a home they could not afford. First, there is unquenchable greed: “Do I regret it? NO. The prices have gone up 15-20% from the time I bought so it is good.” And, second, he’s trapped. The gain in value’s meaningless since it cannot be extracted: “Can I do something about buying my house? NO. Selling and downsizing is NOT an option as I need to pay commission, moving charges, trouble to family etc.”

Can’t afford to stay. Can’t afford to move. Savings all gone. Big debt swallowed. Living hand-to-mouth. No financial cushion for his family. Exposed to any crisis or reversal. Destroyed if there’s a job loss. And yet, “it is good.”

Behold what real estate has done to our heads. Desperate to own at any cost, average people do perilous things, putting their family – the most beloved aspects of their life – at deliberate and significant risk. This Redditer is irresponsible, selfish, misguided and victimized by the perverse society he emigrated to. His kids don’t care if he rents or owns. But they sure as hell will care if he lacks the resources to send them to uni. In the choice between struggling with homeownership costs and funding his family, he’s failed. And yet, “it is good.” Sheesh.

The federal election just over promises to make things worse. Once the FHSA is created in early 2022 real estate will be fed as never before. The consequences are unknown, but not promising for the house-wanting. Here’s why…

Already most first-time buyers get a boost from the Bank of Mom. In fact a BC survey of deal-closing legal offices found 90% of buyers took down payment money from parents. Often this comes from equity loans the seniors take against their homes to give to junior. So, real estate feeds more real estate. Not only does this funnel new piles of dough into the bloated property market, it perpetrates and engorges the wealth disparity in society. Those families with capital beget more capital.

Feudal. Look it up. “A way of structuring society around relationships that were derived from the holding of land in exchange for service or labor.” This was how folks did it in medieval Europe – subjugating themselves to real estate, determining social status based on property ownership, with serfs spending their lives in the service of dirt. It seems the combination of Covid, central bankers and cowardly politicians has dished up the past. And soon we’ll have a mechanism making the generational transfer of land-based wealth even more efficient.

The FSHA will allow the Bank of Mom to make a $40,000 deposit into a tax-free account through the hands of an adult child (under 40). That kid claims it against earned income and receives a tax refund, which is returned to the parents as loan repayment. The deposit grows tax-free and is used to buy real estate. Despite the FSHA being funded with pre-tax money, the withdrawal is not taxed. Thus the house down payment is taxpayer-subsidized. This is a first.

So the game’s changing. Those 90% of first-time buyers getting a BofM boost will be able to run the cash through a federal tax shelter – even if the money sits in there just for a few weeks or months – claiming the same benefit as if it were earned RRSP room. Imagine if half a million families did this over the next few years, directing $20 billion into housing while billions was taken from taxpayers to subsidize the inter-family transfer.

The parents are paid to loan. The kids get taxless growth and a free down payment. Real estate inflates more. And the poor immigrant family reaching for social parity, trying to afford a home on mere wages, slides further into the trap.

Some days I think we have no idea what we’re doing. No, most days.

About the picture: “Thanks Garth for your daily blogs,” writes Jesse in a MSU, “it’s greatly impacted myself and my partner in our investment choices and often confirmed our choices in continuing to invest consistently, rent (we’re in Vancouver!) and live in our means instead of try to stretch ourselves to buy a home. Here is George, the nicest Golden retriever we’ve ever dog-sat. We have become dog sitters extraordinaire in Vancouver, reaping the rewards of dog ownership (and usually house sitting) without the responsibilities or impact on our love for travel. Thanks for all your work!”

177 comments ↓

#1 Keith on 10.03.21 at 11:42 am

I wonder if legal action against the buyers agent is possible.

https://www.cbc.ca/news/business/blind-bidding-real-estate-1.6191259

#2 My Body My Choice on 10.03.21 at 11:42 am

My advice to the over-stretched home-owner:

– since you are an IT expert making a good salary, look for a job in another smaller, more affordable city/town
– the pay will probably be less than $130k, but you will be able to find a house for much less
– once you get a solid job offer, sell your over-priced home in the GTA, get the 15% value increase, pay all the real estate, legal fees etc, (which can be used as a deduction on your income tax next year) so you will recoup much of the selling fees
– move to your new city/town and buy a place for 1/2 what you paid in the GTA
– if you don’t want to move out of the GTA, then just suck it up and keep toiling away for the next 30 years

#3 Doug t on 10.03.21 at 11:43 am

Sadly this country has become a zombie state – brainless bodies lusting for the “Golden horseshoe” that they feel is their salvation – we are truly lost as a nation – this will get worse

#4 Real Estate will never go down period! on 10.03.21 at 11:45 am

So what I’m hearing is that not buying real estate sooner was truly the biggest mistake of my life. My BD portfolio doesn’t stand a chance in keeping up with this government and society sponsored home (land) ownership system.

#5 crowdedelevatorfartz on 10.03.21 at 11:46 am

Eventually the real estate musical chairs game will end and there will be a lot of very, very angry people( as if there aren’t lots of angry people now) out there looking to blame someone, anyone , for this mess.

The current govt prefers to kick the can down the road….than deal with the reality of a bloated, obese, obscene market

#6 Woke up this morning... on 10.03.21 at 11:48 am

Home ownership is hardly the only perversion.

So many of the things we discuss on here can be applied to nearly everything.

The blind drive to HAVE.

No matter who it hurts. No matter the cost.

The fake concern about families and our children, while eating our young, transferring potential is future generations into debt today. Pulling forward.

Not asking for permission. Better to offer apologies later.

And at the top they laugh as we bicker.

Crabs in a bucket, pulling each other down to have something the other doesn’t because it makes us “better”…all by design.

Now…consume! Consume this, that, him, her.

You’re wondering what the meaning of life is?
TO CONSUME! Like a virus.

#7 OKD on 10.03.21 at 11:53 am

Sad commentary but true.
50ish in BC – my friends and peers all discuss lending to get their kids into the RE market.
Our kids are in uni, house is paid off, and we find ourselves contemplating these same moves now.
It is feudalism and it is bad for our societal fabric.

#8 crowdedelevatorfartz on 10.03.21 at 11:54 am

@#112 Millmech

” unbelievably callous especially from someone who is suppose to be highly educated and with that education should have the level of maturity to debate people in a an adult manner.”

++++

High I.Q. doesn’t necessarily equate to a high E.Q.

Personally, my experience with the overly educated.
Despite their years of expensive training, their overbearing sense of superiority, their sense of entitlement.
Deep down.
They have the commonsense of a mindless, narrowly focused, drunken fruit fly……circling over a glass of wine……

#9 Mark on 10.03.21 at 12:03 pm

Real estate the only way to survive, period.

#10 Flop… on 10.03.21 at 12:05 pm

A lot of people have no idea what lurks in the murky underbelly of Vancouver real estate.

The other day a local paper ran a story about a house that recently sold for 80,000 less than it was purchased for in 2014.

I thought they were making a big deal over an 80k loss so I looked at the person’s Twitter page and saw them ask the question “Has this ever happened before in Vancouver Real Estate?”

I was momentarily stunned that people still think it’s a can’t-lose game and if it goes bad an 80k slap on the wrist is all that you get.

This is the big leagues, Toronto has since joined this club as well, when it goes bad, it goes horribly wrong.

During the last downturn, I was almost daily able to show losses over 500k, occasionally show million dollar losses, and with about the same regulatory as daylight savings clock switch’s was able to show losses over 2 million.

Each correction seems to be short lived before the next step up, but seemingly a large pool of buyers are only looking at holding for a year or so, presumably to claim the P.R exemption, and then cash in the chips.

Sounds good in theory, but what we saw last time was after six months of 10k plus mortgage payments people started to fold, even though the numbers in some parts of the city are more elevated than in 2016/2017, I’m not so sure that as many people will fold so quickly next time now that they’ve seen how desperate all levels of governments are to keep this thing going.

As always, only time will tell.

I see some similarities between now and back then in the market, but it could be a head-fake seasonal thing, probably the same as last time in regards that the people playing the long game will probably win, and the buyers stretched too thin will be torn to shreds…

M47BC

#11 the Jaguar on 10.03.21 at 12:06 pm

This is a sidebar to the comment I posted a few days ago, i.e. many newcomers to this country place a higher value on real estate than other investments. We need immigration in Canada ( especially the skilled immigrants arriving here on a merit based system. P.S. don’t shake my tree if you don’t like the way I phrased that. I stand by it. )

“This is my first experience of living in an independent house and the costs that come with it”.
At age 42, with three kids I will take a wild guess and surmise this guy has been living in a multi-generational family home which allowed him to save up some money for a down payment and then the rest came from family, who also probably refinanced their home to assist. The cultural norm doesn’t include renting.
What they didn’t count on two years ago while saving up was the wild ride in price escalation about to take place in the GTA. Likely they bid over the listing price by anywhere from 50 to 100 g’s. Like the Hotel California, they now can now ” check out anytime they like, but they can never leave”. Mercy.

One of my favourite Garth anecdotes shared on this blog was when he and Dorothy lived in a very modest little apartment ( the one where someone stole their Christmas tree), with the ‘powder room’ that overlooked the subway line or some such thing. We learn a lot from lean times, especially the value of frugality and caution. A bonus thrown in is that it develops something called ‘character’. Remember that old chestnut? Well, some of you might…. Others not so much.

When societal or family pressure replaces those experiences and approval and acceptance come only by plunging head first into debt and unaffordability, be aware you will be lying in that bed you just made for yourself and your family. Pray the worm doesn’t turn.

P.S. George the Golden Retriever is afraid to go down those stairs because there is a cat at the bottom waiting and watching…

#12 Sail Away on 10.03.21 at 12:10 pm

Words of wisdom from the Oracle of Omaha:

“Never risk what you have and need for what you don’t have and don’t need.”

#13 Daveyboy on 10.03.21 at 12:18 pm

That sounds like an awful life.

#14 Baffled on 10.03.21 at 12:22 pm

Don’t usually hope for broken promises from government, even though they do it so often, this is one I really want to be broken. Problem is the pinhead who called the useless election probably thinks this will get him elected again next time.

#15 DOn on 10.03.21 at 12:27 pm

I purchased downtown Kelowna. Probably bought at or near the peak. My cost of living increased 50% when I stopped renting. However, I am paying off $1000 in principal every month. I figure a 30% drop in prices will wipe out my $70k downpayment, but I will still have $60K in paid of principal. I love the condo and the location. Is it worth a potential loss of $70k? Not sure. I will wait to see what the opportunity cost realized will be by not investing the difference between rent and buy is after the five years.

I was happy renting. My wife not so much. At the end of the day a happy wife is a happy life and that is all that matters. Plus, when prices do fall I can say ” I told you so” with a very smug face. :)

#16 Faron on 10.03.21 at 12:28 pm

#112 millmech on 10.03.21 at 10:23 am

I apologize. I sincerely regret that.

Furthermore, to dig at my other friends here, no one should be associated with the likes of Imgonnabesick and Penny. I’d be offended if my children were too.

#109 ImGonnaBeSick on 10.03.21 at 9:13 am

You care so little that you go out of your way to respond despite posting under an anonymous handle? I see. Must be all of that joyful family time.

#118 BillyBob on 10.03.21 at 11:43 am

Your ethical topography is convoluted BillyBob. You have frequently implied homosexuality is some kind of failing. Maybe just send us a list so we know which woke principles you adhere to and which you don’t. I’ll send you mine for clarity. Hope your are enjoying our Vancouver Island scorched hellscape of misery.

#17 Ustabe on 10.03.21 at 12:30 pm

For a long time I’ve wanted to address the pejorative manner that “Bank of Mom” is used on this blog.

If you have it to give why not give? In our case I’m in my mid 70’s, mom is mid 60’s and the kids are early 30’s.

All of us are quite healthy so lets assume I’m gone in 15 years and my money flows to mom. She, too, is quite healthy so lets say she lives another 15 years beyond me (Dating lots of men I’m sure…isn’t that the only reason to go to the gym and do all that power walking?)

So now the inheritors are in their early to mid 60’s. What good is the money then? They can use it now.

In our case we gave an inheritance advance to our sons a number of years ago. They pooled that money and almost paid cash in full for a duplex. They put a legal suite below the owner occupied side and rented both it and the other side out, lived in the place for cash flow positive years.

More recently they pulled equity out of the duplex and bought another. Same story, suite below the owner occupied side, both rented out and in this case a rent paying room mate. So now they both have homes that actually produce income, both have paid for automobiles, are able to pay for furniture not put it on credit. TFSA’s full and plump with zero further contributions from mom or dad.

If we were a real bank and not the one size fits all Bank of Mom insult I’d put that down as a real success, business wise and simply as human beings.

#18 david on 10.03.21 at 12:30 pm

FSHA: If we can get tax refund (from income) and can put it in RRSP even if we have no room left, using it will be the first thing I do when it is available.
I will get about 45% money back from government for free, and invest everywhere but stupid real estate.

#19 Ponnaps on 10.03.21 at 12:33 pm

First there was colonization now there is real estate…

both are but mechanisms for transfer of “3rd world” wealth to develop and sustain western nations…

deliberate govt inaction, wanton encouragement to pour in immigrant funds from back home and sucking up of immigrant incomes into real estate thereby indebting them for a couple of generations.. Canada Australia NZ it’s the same storyline… modern version of economic slavery and colonization..

#20 Dogman01 on 10.03.21 at 12:36 pm

Well at least he will not be one of the property-less masses.

Joel Kotkin | Elites: The New Ruling Class and Neo Feudalism
https://youtu.be/SDO1zhDi7BI

“Following a remarkable epoch of greater dispersion of wealth and opportunity, we are inexorably returning towards an era marked by concentration of wealth, reduced upward mobility, and increased dogmatism. If the last seventy years saw a massive expansion of the middle class, today that class is declining and a new, more hierarchical society is emerging. 

The new structure resembles that of Medieval times. At the apex are two classes—a reborn “clerical elite”, which dominates the upper part of the professional ranks, universities, media and culture, and a new aristocracy led by corporate oligarchs with unprecedented wealth and growing control of information.
Below these two classes lies the yeomanry, which is made up largely of small businesspeople, minor property owners, skilled workers and private-sector oriented professionals. Ascendant for much of modern history, this class is in decline while those below them, the new Serfs, grow in numbers—a vast, expanding property-less population.”

#21 Quintilian on 10.03.21 at 12:50 pm

It is mathematically impossible for the RE bubble not to blow up.

If the FHSA is successful in stoking demand, the frenzy will be short lived.

Prices will adjust upward to offset the tax give away.
We do not know for sure when the bubble will burst, but we do know that at some point the RE market will crash.

How much fuel and how fast the politicians and CB’s feed this runaway train will determine time of wreckage.

It can’t be too far away now.

As a side note:

Although, we generally think of this as an economic /financial challenge. I believe it will eventually be resolved politically.

#22 Debtslavecreator on 10.03.21 at 12:54 pm

Easy Garth. The greatest debt based Ponzi is in its late stages with the rate of change of credit growth slowly making its way down to below zero within the next 2-4 years hence the more radical and extreme policies to help keep the fake demand going. What’s actually happening is the government and FIRE elites are “legally” stealing the wages and stored savings of the masses by using fraudulent monetary policy and tax policy to mis price credit which then artificially inflates nominal home prices yet average wages barely rise at all. The masses end of paying real cash payments on artificially inflated assets.
When the inevitable collapse occurs there will be nothing left as a massive and sudden shock tax increase and defaults and a debauched currency combine to leave the majority penniless after a lifetime of work. The government and FIRE elites will have effectively stolen all of your savings and incomes via the greatest financialization fraud of all time.

#23 Arcticfox on 10.03.21 at 12:55 pm

Matthew has a gifted intellect and presents macro in such a manner that I think most here can understand !

https://palisadesradio.ca/matthew-piepenburg-a-new-currency-system-is-emerging/

#24 Ballingsford on 10.03.21 at 12:56 pm

Sweet deal that FHSA! Sucks that our tax dollars have to pay for it. Kids would be nuts not to take advantage of it.

#25 Dogman01 on 10.03.21 at 12:57 pm

Canadian Real Estate “the Bubble that never Pops”.
Like Eve said to Adam…how big is that thing gonna get!?!

“No country has ever deflated a real estate bubble without experiencing a severe economic slump, often accompanied by a financial crisis.”

US Real Estate let off steam a decade ago, In 2009 when US Real Estate popped bigly, my retired parents swooped up a 5 year old 1660 sq ft house for just $67,000 US in Arizona (and the Cannuck Buck was above par!).

“Unlike most senior Chinese politicians Xi was not entranced by the soaring property market. Real estate booms deliver low quality or “fictional” growth, he said. In recent years, returns on investment in China have collapsed and productivity growth (output per capita) has fallen to half its 2007 level. Xi also branded the property boom as socially divisive. Land development fueled public corruption, which Xi was trying to stamp out. Rising home prices worsened inequality – around half of the world’s real estate billionaires come from the People’s Republic – and priced younger people out of the market. Millions of properties owned by investors have been kept vacant.
https://www.reuters.com/breakingviews/chancellor-evergrande-is-all-chinas-woes-one-2021-09-30/

Wow sounds like Canada….

Like that whale blowing up, when this thing blows watch out…are the Canadian Banks and Markets safe when so much of it is Financial and it is all sitting below this epic Real Estate leverage?

#26 yvr_lurker on 10.03.21 at 1:02 pm

The parents are paid to loan. The kids get taxless growth and a free down payment. Real estate inflates more. And the poor immigrant family reaching for social parity, trying to afford a home on mere wages, slides further into the trap.

#
Yes, indeed a problem, but it is not just the “poor immigrant family” that we should focus on here. There are many families here in Canada where the inter-generational transfer of funds in the way you describe is not at all in the cards (single parents, the working poor, rural, whatever). I would have been one of them. For those who are born into these families (or like the immigrants you describe who come to Canada with zero), and who are ambitious and acquire key skills, they rely on wages and wage growth, and not to be taxed into the ground. The scheme by Trudeau simply enhances inequity and priviliges those families who are more well-off and can help.

This has been beaten to death, but what if Trudeau was out surfing during remembrance day when the planes fly over head at 11? He creates the analogous Sept. 30th day of reflection, and then &I*U^^ off to go surfing. Seriously, he is a marshmellow who for whatever reason (perhaps his priviliged liife) has no common sense of what should have been expected of him on that day.

#27 Cheese on 10.03.21 at 1:03 pm

As someone who turned 40 a few months ago, this whole TFHSA is beyond enraging, short sighted, ageist, and will solve nothing. It will simply make those of us on the cliff face more embittered and angry.

#28 Just wants more than 600 sqft on 10.03.21 at 1:04 pm

I had illusions of over-stretching to buy, came here to destroy my hopes and succeeded.

With rents massively inflating across the country as well, there seems to be no escape from this. What am I supposed to do? I can’t raise a family in a 1 bedroom apartment but really don’t see any other options.

Our generation really did get screwed.

#29 Doug t on 10.03.21 at 1:07 pm

#6 woke up this morning

SPOT ON !!!

#30 None on 10.03.21 at 1:11 pm

That silly <40 TFSA/RRSP thing is what cost liberals my vote. Just so dumb.

#31 Niagara Region on 10.03.21 at 1:16 pm

Here is a fascinating documentary on the real reason why house prices are sky-rocketing in so many major cities (and their hinterlands) globally:
https://www.youtube.com/watch?v=t6m49vNjEGs&ab_channel=DWDocumentary
Source: DW, German Public Broadcasting Services

#32 Dragonfly 58 on 10.03.21 at 1:25 pm

Renting in the Lower Mainland { and GTA as well I expect } is almost as insane as buying. Very run down homes in many cases, staggering rents, and lots of mercenary Landlords. Canada’s bigger city’s have a reasonable amount of jobs, but the shelter side of the trade off is a minefield. Rural Canada has its own set of challenges. No easy answers.

#33 Wrk.dover on 10.03.21 at 1:28 pm

130k/yr to barely live in a 1.3Mil house, while drinking and bathing with Lake Ontario water, all to exist under a yellow dome of disgusting air. (Ever flown in during the winter?)

While raising children! To repeat the process I assume.

I hear India has good IT positions too.

#34 crowdedelevatorfartz on 10.03.21 at 1:32 pm

@#10 Floppie

“I was momentarily stunned that people still think it’s a can’t-lose game and if it goes bad an 80k slap on the wrist is all that you get.”

++++

In 1982 I watched a house I lived (rented) in go from 240k to 80k in a year.
The landlords were crapping their pants.
They had 4 houses they were making payments on.
The Recession hit and you couldn’t beg, borrow or steal a job.
The banks were stuck with real estate that didnt move.
Ugly for about 4 years.
Expo86 saved the city and the province with govt funded construction.
Then the condo building craze ramped up and we never looked back while the rest of Canada still suffered a slow , grinding recovery.

Its been decades since a crushing meltdown of prices and jobs hit BC’s Lowerbrainland..
We are long overdue.

#35 Prince Polo on 10.03.21 at 1:37 pm

No, all days.

#36 Joe on 10.03.21 at 1:38 pm

Good for him. He’s made equity and now has a place for his family to live without the threat of being tossed out of a rental if he could have even found one. Plus renting is expensive for a big family sized unit/home. Years of paying down mortgage debt with opportunity for good appreciation and his family will own the single best way to grow wealth – a family home.

#37 crossbordershopper on 10.03.21 at 1:47 pm

why is this guys story bad? yes its a hassle to go in some bidding wars etc, but he got his house and he said its up 15 or 20% so whats that 200K, net free tax free growth. So he did that in a year, how long would it be for him to work and save that much money?
His kids are probably smart like him, so i suspect with there little jobs or saving for kids education or loans from government they will be fine.
listen, the math is simply, he can set up a heloc and grind down his debt service charge, immigrants are used to living cheaply anyway.
this is the southern ontario life , immigrants come, jack up real estate prices, because property here and back home philosphy are the same, buy it or your a schumck.
I agree. listen my friend just bought in Lashburn Sask, 109K was the house price, yes 109,000. he makes 100K a year, saved his 20K down, and is getting a mortgage. yes he has big truck and lives well, better than the some to be millionaire immigrant in southern ontario, but years from now, my buddy will have a marginally higher priced house paid for, and the immigrant will have millions and he will go back to the punjab and be happy with his years of working in canada. His children will be educated and the ponzi scheme of borrowing from parents house to buy theres will continue so we can swap 4 million dollar homes to each other in 20 years. its already written, the inflation might make it even worse.
This is not the USA, people in Canada do anything to keep there house, they have equity, they will spend 50% of after tax income to live there, to the sacrafice of everything else in there life. I know it, i see it.
This is society and cultural, coupled with restricted land development, govt contrlled banking system, and tax rates that back stop property values. this ponzi scheme will continue forever with the occassional pauses.
Forced savings in a tax free growth vehicle leveraged 5 times is good. with all the backstops. coupled with prestige, and that its a cold country. its probably why 70% of all Canadians have at least one, and the other 30% wish they did.Unless for health reasons or transitorial job situation, no one rents and has a 7 figure portfolio, it just doesnt happen, trust me people with money are arragent, they want you to see what they have. poor people dont have anthing to show you. so they dont.

#38 Cheese on 10.03.21 at 1:48 pm

More RE shenanigans

https://www.bbc.com/news/world-58780465

#39 Arcticfox on 10.03.21 at 1:49 pm

And this was 4 years ago !

https://m.youtube.com/watch?v=t6m49vNjEGs&ab_channel=DWDocumentary

#40 Sail Away on 10.03.21 at 1:53 pm

#17 Ustabe on 10.03.21 at 12:30 pm

For a long time I’ve wanted to address the pejorative manner that “Bank of Mom” is used on this blog.

———

Wow, I agree with Ustabe… but not exactly in the same way.

For the Sail Away dynasty, membership confers benefits such as: housing, financial stability, paid education, investing oversight, general material goods, and advice… always the advice. So yes, of course money is provided if needed, or loans co-signed if that’s more beneficial to the system. Registered accounts are created and topped up immediately for kids upon reaching the age of majority.

There is stress enough in studying, starting a career and raising a family. If we can reduce stress and help long-term stability for the extended family by judicious use of money… of course it’s done. Similar to a business, no part can be allowed to fail unecessarily.

#41 Woke up this morning... on 10.03.21 at 2:04 pm

Random thought: Could the politicians pushing so hard on home ownership in Canada be about settling the land even more as well?

Could they be taking all these extraordinary steps just to get people to have skin in the game when this issue we discussed at length yesterday comes to the front burner? The one about Native’s rights to this land?

Settlement strategy is well used in other disputed or potentially to be disputed lands.

It will be tens of millions against what…1.7m Natives. Majority rules. Politicians get to preserve the status quo.
Beside economic growth gains and helping the profits of big banks it is yet another aligned goal to stoking the RE fire.

It is actually interesting that Austria and Canada feature so predominantly in RE bubble game. As if this instruction to bubble-up came from the top landlady herself. No risk for her. She owns all the land. Her subjects certainly don’t own the land upon which their houses stand and over which they bicker like fools. That is a legal fact.

“I will bully you out of this place with my $180k higher offer! I’ll borrow it and slave and stress. Ha ha ha…I won! Like on ebay! The house is mine. The land? Not so much.”

#42 Dolce Vita on 10.03.21 at 2:12 pm

Nuts.

—————

The only good thing is that this $40K for Cdn < 40 yrs old doesn't kick in until the 2022-23 budget:

https://i.imgur.com/7CSmpG0.png

This year Cdns will have to slum it with Safer Indoor Air and higher Home expense deductions.

2021-23 will be good years for HVAC.

—————

Nuts.

#43 Wrong on 10.03.21 at 2:14 pm

Well, according to the CMHC people should pay 30% of their pre-tax income on their house. That means approximately 50% of the after tax one. So it is good. The government has put all its bets on real estate and is now doing everything possible to keep the charade going. And if even immigrants (who supposedly come from poorer countries) do this- use money from their country to spend here, things are not good, but great. Much better than someone spending little on housing, having money to send back home to aging parents, visit them and spend money on vacation elsewhere. Everything you gain in Canada stays in Canada. On houses, taxes, transport, and food. But i find it hilarious that people worry so much about their freedom being lost when asked to wear a mask, but they will happily chain themselves for life under the pretence of being a home owner. Some people just don’t know how to live.

#44 Doug in London on 10.03.21 at 2:15 pm

So he put in a bully offer to buy a house he couldn’t afford. It’s complete idiots like him who are responsible for such high prices in the first place. He could have avoided it all by renting instead. Such a fool should get no sympathy from any sensible person. That’s what we call karma.

#45 crowdedelevatorfartz on 10.03.21 at 2:23 pm

@#28 Just wants more…

“With rents massively inflating across the country as well, there seems to be no escape from this. What am I supposed to do? I can’t raise a family in a 1 bedroom apartment but really don’t see any other options.”

++++
Patience grasshopper.
Canadian interest rate rises will be forced upon the politicians whether they scream for their Real Estate campaign contributors or not.
Or we’ll have a $0.50 Canuck Buck.
Take your pick

#46 Pandora papers on 10.03.21 at 2:26 pm

well this should be interesting.

https://www.theguardian.com/news/2021/oct/03/let-the-light-in-why-the-guardian-is-publishing-the-pandora-papers

https://www.theguardian.com/news/2021/oct/03/pandora-papers-biggest-ever-leak-of-offshore-data-exposes-financial-secrets-of-rich-and-powerful

#47 CJohnC on 10.03.21 at 2:29 pm

The FSHA will allow the Bank of Mom to make a $40,000 deposit into a tax-free account through the hands of an adult child (under 40). That kid claims it against earned income and receives a tax refund, which is returned to the parents as loan repayment. The deposit grows tax-free and is used to buy real estate. Despite the FSHA being funded with pre-tax money, the withdrawal is not taxed. Thus the house down payment is taxpayer-subsidized.

I think this whole FSHA boondoggle will beget many legal challenges.

#48 rknusa on 10.03.21 at 2:31 pm

re: Some days I think we have no idea what we’re doing. No, most days.

and the number one dummy sits at the the top – Justin Trudeau although O’Toole ‘s and Jagmeet’s plans were just as stupid

funny I was reading this thread and others yesterday on reddit, a lot of pissed off kids out there making good money but cannot afford shelter in S Ontario

#49 Garry on 10.03.21 at 2:34 pm

Mortgage farm that what it is. Farmers are lending institutions.

#50 Dolce Vita on 10.03.21 at 2:38 pm

Forgot to mention that 2022-26 will be good years for Appliance Repair:

$440 Million

per year: $100M, $105M, $115M & $120M.

Well Canada, in 2022-23 it’s time to start using your old washer/dryer as concrete mixer, dishwasher to degrease car parts/cook salmon, oven as wood burning fireplace, refrigerator/freezer as temporary garbage storage or bait for fishing.

Forward. For Everyone.

No worries, Gov Canada has your back on appliances.

#51 Gen Z on 10.03.21 at 2:45 pm

We live in a world where the degree of disinformation and outright lying of the CBC media has reached a pinnacle point where average folks are becoming well aware of this malarkey by Justin Trudeau, Adam Vaughan and Chystia Freeland who are all HOME OWNERS.

#52 VladTor on 10.03.21 at 2:47 pm

Garth…And, second, he’s trapped. The gain in value’s meaningless since it cannot be extracted…

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

This is exactly what folk who bought house recently don’t or can’t understand .

I remember couple days ago was comment where somebody was happy that his/her house increased in value for 300k for 4 years and he/she can’t make so fast his/her money just working same period.

Ok. Sell it immediately and move in rent I guess.
NO way! B’s in next 4 years will be 600k and go on. That way which most homeowners thinking. But bubbles have 300 years history and end of bubble was always same and happening suddenly for “bubblers”.
Interesting, I read, that Tulip bubble blow out in just one week or less. And those time was no internet and modern communications. So, now can happened in minutes!

#53 The Woosh on 10.03.21 at 2:55 pm

His kids don’t care if he rents or owns. But they sure as hell will care if he lacks the resources to send them to uni.

——————————————

Really??? How is that instilling a financial education to the next generation? Expecting parents to pay for their university education? What happened to getting a part-time and/or summer job to pay for that “education” to gain an understanding the value of a dollar. An RESP is nice but shouldn’t be the “be all and end all”.

Back in the day…not that long ago…I sent myself to university, paid for it myself, no student debt, blah, blah, blah.

Your comment isn’t any different than your criticism of people’s expectations of the Bank of Mom & Dad.

#54 Millennial 1%er on 10.03.21 at 2:55 pm

>parents can’t send him to uni

Garth, you naive old fool. Today the way to put your kid through college is to “disown” them on paper, have them rent out a place and take out OSAP 0 interest loans and grants. Then, the parents can pay off their whole loan balance.

#55 ogdoad on 10.03.21 at 2:59 pm

You know, a planet that circles around a star, in a solar system that exists in a galaxy that is zooming through space…and all the people who live on the planet would rather compare themselves to their peers than ensure the best possible outcome for their offspring. This may be the work of capitalism.

I have no sympathy for someones Dharma leading them to a life choice like this. But I can definitely understand when the masses are looking in one direction then perhaps I should take a glance. Perhaps its how you handle what you see.

I agree, Garth. We have no idea what we’re doing. Nor do our leaders. But technology will see us through.

Happy Sunday!

Og

#56 SoggyShorts on 10.03.21 at 3:05 pm

#103 Woke up this morning… on 10.03.21 at 12:51 am
#92 SoggyShorts
Firstsies is how it works. That’s what dibs and thus ownership is based on….
As for your question about details, let them work that out.

*******************
Even if Firsties was how it worked (it isn’t) You’d need to know who was first, and with nomads who don’t have a written history that’s pretty damn impossible.

How can you have such a strong stance while ignoring the details?

It’s like a child saying “everyone should get 1,000,000 dollars!”

“Give them back their land!”
-Who? Which tribe? How pure must their lineage be? Which specific piece of land for whom?

If you can’t even begin to imagine a framework for answering these questions how can you expect anyone to support your position? “The budget will balance itself”?

As for your whole “Natives shouldn’t be forced into our consumerism society” Have you asked them?

Have you had an honest conversation with at least a handful of Natives and asked if, in exchange for land, they would give up centuries of technology?
How many could even hunt and fish for food if they had to make the tools by hand?

#57 alexinvestor on 10.03.21 at 3:07 pm

I don’t think people are idiots … they just tend to make the most risk adverse decisions. According to the decision they made to buy, what is the outcome that they want to avoid that they think may happen ?

Kids not going to university … nope. Getting stuck … nope. Losing job … nope. Getting priced out of where they want to live if RE goes up another 15-20% … that’s their biggest fear.

#58 Quintilian on 10.03.21 at 3:11 pm

#44 Doug in London
“So he put in a bully offer to buy a house he couldn’t afford. It’s complete idiots like him who are responsible for such high prices in the first place. He could have avoided it all by renting instead. Such a fool should get no sympathy from any sensible person. That’s what we call karma.”

Doug don’t be too hard on the guy. He is an IT man, which is tomorrow’s Bangladesh cubicle worker.
This is the typical mark/target for the RE industry.

The way their brains are hard wired makes them perfect for following systems, and colouring within the lines.

They are capable of producing intricate patterns just like spiders, but only because they blindly follow instinct.

It is not raw intelligence.

Greed, fear, and survival genetic coding can fool them.

Easy marks.

#59 millmech on 10.03.21 at 3:14 pm

#36 Joe
I wonder if this redditor has ever looked at mortgage amortization tables for what their probable million dollar mortgage will cost him in interest payments alone.
At 1.5% over 25 years-200k in interest -8k/yr
At 3% over 25 years-425k in interest-17k/yr
At 6% over 25 years-933k in interest-37k/yr

#60 Dragonfly 58 on 10.03.21 at 3:21 pm

Thanks Niagara Region ! That is a bit of an eye opener. Here I thought the whole Bubble trend was more of a strictly Canadian thing. Wrong as usual in relation to my take on money. When the wheels come off it’s going to be earth shaking !
Can a couple of thousand people really eventually own everything ? It almost looks like things are heading that way.

#61 DON on 10.03.21 at 3:25 pm

The Bank of Mom has been at play for some time now, it happened without tax incentives driven by greed, fomo, more greed, multiple properties etc.

In my roaming area, rentals apartment blocks are appearing everywhere. Big for rent signs out front. So less demand for basement suites and mortgage helpers. Global wobbling on many fronts…the phrase risk off is gaining traction. Probably not the best time to get into crushing debt.

The supply chain seemingly has cog and wheel misalignment issues. One ouput is higher prices that’s for sure. It’s not just Covid but other variables as well affecting global supply.

China’s Xi has to clamp down on anything creating social division or he/they could be replaced. Capitalism is not their baby and can be severely altered if need be. The West would be wise to clean house bit and ensure inetgrity in the system.

With the Fed in the headlines and questions about ethics…FFS!

#62 Exodus 2020 on 10.03.21 at 3:28 pm

Vancouver and Toronto skew the stats, but there are still some markets that make sense to buy real estate with 30% or less of household income. Gentrification is starting at a provincial level now, not local from bad neighborhoods. It takes guts, but I’m seeing many professionals moving to Calgary and Halifax for instance, some just cashing in on YVR and YYZ real estate, and some just throwing in the towel. I’d rather own in retirement than be locked into renting, as the way rents are increasing I can’t see pension income covering rent (market rents increasing 7% per year in my neighborhood)

#63 Sara on 10.03.21 at 3:31 pm

#8 crowdedelevatorfartz on 10.03.21 at 11:54 am

“High I.Q. doesn’t necessarily equate to a high E.Q.”
================

That was funny.

#64 Joseph R. on 10.03.21 at 3:38 pm

#51 Gen Z on 10.03.21 at 2:45 pm
We live in a world where the degree of disinformation and outright lying of the CBC media has reached a pinnacle point where average folks are becoming well aware of this malarkey by Justin Trudeau, Adam Vaughan and Chystia Freeland who are all HOME OWNERS.

——————————————————————

So are all the members of the Conservative party. So you hate homeowners who are also politician.

May I ask: who did you vote for?

#65 Yukon Elvis on 10.03.21 at 3:43 pm

#40 Sail Away on 10.03.21 at 1:53 pm

For the Sail Away dynasty, membership confers benefits such as: housing, financial stability, paid education, investing oversight, general material goods, and advice… always the advice. So yes, of course money is provided if needed, or loans co-signed if that’s more beneficial to the system. Registered accounts are created and topped up immediately for kids upon reaching the age of majority.

There is stress enough in studying, starting a career and raising a family. If we can reduce stress and help long-term stability for the extended family by judicious use of money… of course it’s done. Similar to a business, no part can be allowed to fail unecessarily.
++++++++++++++++++++
Amen. Especially the education part. You can’t lose it, no one can take it from you, and you will not get stripped of it in a divorce. I remember what it was like to struggle, no way I would ever let my kids/grandkids go thru the same.

#66 TalkingPie on 10.03.21 at 3:44 pm

#17 Ustabe on 10.03.21 at 12:30 pm
For a long time I’ve wanted to address the pejorative manner that “Bank of Mom” is used on this blog.
********************************************

That’s an interesting point of view and I think a valid one.

For starters I think that Garth’s biggest point of contention on this topic is the necessity of today’s first-time buyers to inherit money in order to get onto the property ladder in many parts of Canada. I think most of us would agree that a society in which your success in life is determined primarily by what you’re born into is the opposite of the virtues Canada was founded on.

Secondly, my parents, European immigrants to Canada, decided to do the opposite of what you’ve done with your kids. Mostly self made – Dad is a machinist by trade and still works part of the year by choice at 77 – my parents are of some, but not outrageous, means. They sent all three of us kids to private school from kindergarten through high school. Thanks to living frugally, working hard, and receiving some inheritance of their own later in life, they were mortgage free in their early 40s.

However, from post-secondary on we kids were free to live in their house, but schooling and other costs were all on us. I left home at 24 with $5,000 to my name (I’d been working part-time since I was 15). From there on I worked, rented, saved, kept out of debt, paid my way part-time through a business degree, put aside a healthy down payment together with my spouse and we bought a decent, modest house within our means in a nice, relatively low-cost area when I was 34. I always knew that my parents would offer a safety net if necessary, but it’s been satisfying to know that what modest success I have now is to a decent extent a result of my own doing.

Would I have more now if my parents had funded bigger risks and encouraged me to dream bigger during my young adulthood? Quite possibly. And my siblings and I will probably eventually inherit mortgage-clearing money, probably at a time when it’ll be less useful than in our early twenties but still useful during a time when my own future kids will be approaching their post-secondary years.

All in all, I have much to be thankful for. I can’t honestly say whether I think it’s better for parents to use their wealth to set their kids up on a course for success, or to give their kids the gift of working their way up on their own.

#67 Linda on 10.03.21 at 3:51 pm

‘George’ should possibly have been decorated with a little crown to emphasize the theme of today’s post. A thing about serfs – they were effectively slaves. One thing that the Black Death (plague) did was free the serfs, because their ‘owners’ were no longer around to prevent them leaving. Funny how a virus doesn’t care about your social standing!

#68 Sayonara on 10.03.21 at 3:56 pm

A zero lot line bung with a big prison mortgage is a big iron ball around your ankle. Especially in Canuckistan, comrade. There’s going to be more lockdowns. First it was lockdowns cause not everyone would wear their mask. Then it was lockdowns till everyone gets the shot. Soon its going to be lockdowns to “save the planet”. It’s all BS. It’s an excuse to override civil liberties.

At the very least, get a piece of property in the country where you can grow you’re own potatoes. Tough to grow enough potatoes in a 20×20 backyard. Sooner or later the crash will come, and it is going to make the 30’s look like the Fudruckers.

#69 Dolce Vita on 10.03.21 at 4:04 pm

Bank of Mom & Dad having squandered their hegemony on Junior can rest assured.

Help Bring Different Generations Under One Roof:

$514M.

Tax credit to help families add a secondary unit to their home for an immediate or extended family member. 15% tax credit for up to $50,000 in renovation and construction costs, saving up to $7,500.

Expect many new “long-term stay of one or multiple family members” suites over the garage or attached to the backyard Garden Tool Shed (Politically Incorrect old term “Mother-in-Law Suite”).

Forward. For Everyone.

#70 Sara on 10.03.21 at 4:08 pm

#68 Sayonara on 10.03.21 at 3:56 pm
” There’s going to be more lockdowns. First it was lockdowns cause not everyone would wear their mask. Then it was lockdowns till everyone gets the shot. Soon its going to be lockdowns to “save the planet”. It’s all BS. It’s an excuse to override civil liberties.”

==================
I’m thinking neither your IQ nor your EQ are very high.

#71 Woke up this morning... on 10.03.21 at 4:14 pm

#56 SoggyShorts

So your explanations is that we should keep screwing the Natives out of the land stolen from them just recently because they may’ve been screwing people out of it before?

How about we worry about our problem. Let the Natives address that one at a later time themselves.

As for Natives forced into the capitalist consumerism structure, they are aware of it. No doubt human nature to WANT will capture some. The colours on the screen are just too hypnotizing. But I agree with you – CHOICE! They should have CHOICE! Right now, they cannot live they way they lived.

Let’s start with them not having water in the first place. Have you considered that the lands given to them don’t have it? Don’t have access to it? Have had it poisoned by industry?

People, people, people – PLEASE – don’t defend wrongs with other wrongs. Don’t claim wrongs can’t be undone because of other wrongs committed. This is psychopathic stuff. It’s the type of justification dictators use who commit unspeakable crimes against humanity and nature.

Start by asking yourself – is what I’m suggesting truly good and fair. Take it from there…

#72 Grunt on 10.03.21 at 4:20 pm

Folks build their own traps. Might be a narcissist.

#73 Nonplused on 10.03.21 at 4:26 pm

“The FSHA will allow the Bank of Mom to make a $40,000 deposit into a tax-free account through the hands of an adult child (under 40). That kid claims it against earned income and receives a tax refund, which is returned to the parents as loan repayment. The deposit grows tax-free and is used to buy real estate. Despite the FSHA being funded with pre-tax money, the withdrawal is not taxed. Thus the house down payment is taxpayer-subsidized. This is a first.”

———————————

I’m not too worried about the “tax free gains” in the account (what gains?), but the tax treatment of the deposits is more than concerning for sure. Did anybody think this through?

So who does this new FSHA benefit the most? Well it helps to be in a top tax bracket so you get the maximum refund. So let’s que your top 1% and 10%’ers so hated in this comments section. Trudeau just gave them the biggest single outright gift I think any Canadian politician has ever given anyone, anywhere. It might be bigger than transfer payments (per person). And it is straight to the so called rich. Harper would blush.

Of course, it helps to have $40,000 lying around, so let’s also que the “intergenerational wealth”, also hated in this comments section. Maybe our -40 top 10%’ers have saved their own $40,000, but this whole thing works out easier if mom gifts the money.

So the profile of the person who benefits most from this government gift:

– intergenerational wealth
– earnings in top tax bracket

Is that really what was intended? Is this just callous vote buying? Are voters really that incredulous? Is anybody going to be happy with the idea that this was a gift to voters who need no gifts?

To be sure, the FSHA is of no use to someone earning $15/hour. But if you make $150/hour this is a free gift.

Incredible.

And I haven’t even touched on the age discrimination.

#74 Gramps on 10.03.21 at 4:28 pm

So parents are to pay for their kids secondary education, manage their investments so they have something to pass on, but not help them buy a house? I think most don’t see any difference.

If you can’t see the difference between educating a child for a career and a social contribution over rest of his/her life with helping the kid become indebted, well, I hope you’re childless. – Garth

#75 Stupid on 10.03.21 at 4:36 pm

The kiddo from reddit will never be able to retire and will have to be a slave forever. What would happen if the job no longer exists due to automation? Even in IT most jobs will be going away. Also with a large family, your saving will be very less. It makes retirement difficult.

#76 The Woosh on 10.03.21 at 4:45 pm

65 Yukon Elvis on 10.03.21 at 3:43 pm
#40 Sail Away on 10.03.21 at 1:53 pm

For the Sail Away dynasty, membership confers benefits such as: housing, financial stability, paid education, investing oversight, general material goods, and advice… always the advice. So yes, of course money is provided if needed, or loans co-signed if that’s more beneficial to the system. Registered accounts are created and topped up immediately for kids upon reaching the age of majority.

There is stress enough in studying, starting a career and raising a family. If we can reduce stress and help long-term stability for the extended family by judicious use of money… of course it’s done. Similar to a business, no part can be allowed to fail unecessarily.
++++++++++++++++++++
Amen. Especially the education part. You can’t lose it, no one can take it from you, and you will not get stripped of it in a divorce. I remember what it was like to struggle, no way I would ever let my kids/grandkids go thru the same.

————————————

Looks like you’re confounding “struggle” with “effort”. Is that why wealth is often lost by the third generation? Everything given in the second generation that they don’t have the knowledge to retain what was built up from the 1st generation…and then all gone by the time they get to the 3rd?

#77 Annek on 10.03.21 at 5:06 pm

I keep,wondering if the age restriction of 40 for FSHA is discriminatory as per Human Rights . For example , a 41 year old cannot take advantage of this but a 5 year old can? I should think someone will challenge this in the courts. Plus, what is$40,000 in the big picture of the cost of a home here in Canada except that it can grow tax sheltered.

#78 SoggyShorts on 10.03.21 at 5:10 pm

#71 Woke up this morning… on 10.03.21 at 4:14 pm
#56 SoggyShorts

So your explanations is that we should keep screwing the Natives out of the land stolen from them just recently because they may’ve been screwing people out of it before?

****************
No, I’m saying that we can’t “give the land back” unless we know who we should give it to. You lumping all natives into one group is quite frankly racist.

#71 Woke up this morning… on 10.03.21 at 4:14 pm
#56 SoggyShorts
As for Natives forced into the capitalist consumerism structure, they are aware of it. No doubt human nature to WANT will capture some.
*****************
Try “Almost all” not “some”. You are delusional if you think more than a handful of people would choose to give up modern tech including all medicine, shelter, and electronics.
Do you know how I’m sure that you’re wrong about this? The fact that basically, no one does it. There are vast tracks of Canadian wilderness where one can go and live a 16th-century lifestyle, but no one does it because it sucks.

#71 Woke up this morning… on 10.03.21 at 4:14 pm
#56 SoggyShorts
People, people, people – PLEASE – don’t defend wrongs with other wrongs. Don’t claim wrongs can’t be undone because of other wrongs committed.
Start by asking yourself – is what I’m suggesting truly good and fair. Take it from there…

*******************
Woke, woke, woke – PLEASE – don’t create an imaginary situation with an impossible “solution” and waste everyone’s time.

Start by asking yourself – is what I’m suggesting even something that anyone wants? Take it from there…

#79 Frenchfrie on 10.03.21 at 5:17 pm

What about our children who were born and educated here. How do they buy a house.

#80 Concerned Citizen on 10.03.21 at 5:25 pm

I often vote Liberal. This truly asinine housing bubble plan ensured I did not vote Liberal this time.

I think policymakers know exactly what they’re doing, which makes it all so much worse. How could they not?

I have my exit plan in hand, and I know I’m far from the only one. I work extremely hard and I won’t participate in this farce just so I can be house poor much of my life – I will sooner take my skills and work ethic elsewhere (whether that be the Prairies or abroad). Trudeau is going to have to pump up those immigration numbers to 500K-600K to compensate for the oncoming exodus.

Feudalism is exactly where Canada is going. Young people and immigrants are to be lifelong serfs in most parts of Canada.

#81 Gen Z on 10.03.21 at 5:25 pm

#64. I did not vote Liberal. Adam Vaughan laughed and mocked the renter class.

#82 cuke and tomato picker on 10.03.21 at 5:56 pm

This is a very sad situation one of my fears is the children will need more and more things as they get older and live a life lacking opportunity. Money is not everything but a teen ager has needs beyond basic food and clothing to
feel good about themselves. Hopefully the couple is resourceful and like my mother would say ” they can
stretch their dollars to make ends meet”.

#83 Woke up this morning... on 10.03.21 at 6:01 pm

#78 SoggyShorts

Soggy,

I hope more people will start turning their backs on many elements of this capitalist profit driven structure.

I was working out, Boom was on, “with an inoculated playlist, Boom is your virus radio” – I didn’t even know what to make of that nonsense ad. Next up was one about depression. How many people suffer from it.

And I started to wonder…is it because of capitalism, consumerism? We’ve dulled our emotions and senses. Just more more more….retail therapy, new car, noisy bike, new pickup…oh…so happy now, right? Considering that for some reason humans are up to 3x more disappointed with a loss than a win – for example, you are happy when you find a $20 on the sidewalk, but you’re nearly 3x more unhappy emotionally when you loose a $20. So take that mechanism in us for some reason that is exploited by marketers without doubt, push it forward to today’s endless materialism and ads telling you what to buy, what to get, what you need, how to look, how you’ll be better if you have it. How important you are if you drive a Mercedes. Mercedes? PFF…everyone has one, you need a Bentley. Bentley? They now make over 12,000 – you’re not special with one of those! On and on.

It’s not impossible to turn back on this. Reduce it by at least half. Think about it – would it hurt you so much if you only bought every second thing you want to buy and walked away from every second one with a hard “NO”?

You think Natives of this land don’t want their land back? Would refuse to take it back? Aren’t arguing for it? Haven’t been fighting for it forever? You think some of their Native leaders didn’t sell them out through bribes back during those treaties? That those conquerors didn’t know how to appeal, impress, motivate these “backwards” humans without any of the trappings of capitalism?

Yeah, NOBODY basically white and in the political class wants this. But you can be pretty sure Natives want it. They just are being told by their slave-masters they can’t have it. Like a parent telling child NO.

Dinner time.

#84 Nonplused on 10.03.21 at 6:03 pm

#71 Woke up this morning… on 10.03.21 at 4:14 pm
#56 SoggyShorts

So your explanations is that we should keep screwing the Natives out of the land stolen from them just recently because they may’ve been screwing people out of it before?

****************
No, I’m saying that we can’t “give the land back” unless we know who we should give it to. You lumping all natives into one group is quite frankly racist.

————————————-

I’m not giving anything back. But I’ll pay for the value of my land as it was before the railroad got built. So about $10 per section. I have 2 acres. 2/640x$10 = $0.03. Where do I send the check? Of course there has been a wee bit of inflation over the years so I probably owe about $1.09. I’ll gladly pay it just to avoid having to scroll over this conversation anymore.

Land is worth way more than $0.55 cents an acre now you say? Well sure, but the improvements and infrastructure belong to those who built them. Prior to the infrastructure being built this was mostly scarcely inhabited grassland. Then we built railroads, roads, irrigation canals, dams, power grids, factories, cities, water and sewer treatment, brought in tractors and tilled the land, hospitals, schools, law and order, airports, and all kinds of other things. That is what makes the land worth something today.

If we are serious about “giving back the land”, we need to tear out all that infrastructure and return the land to its’ original state first. Do you think anybody really wants it then?

#85 Sara on 10.03.21 at 6:20 pm

@Faron, BTW, I wasn’t referring to you (in case you thought I was).

Don’t let the low EQ, low IQ types who could care less about climate change (amongst other issues) and get off on bullying you, get to you. They rejoice when they think they have dragged you down to their level, but they never do.

#86 AM in MN on 10.03.21 at 6:32 pm

Yes we’re screwed, just going to take a few more years for the pain to really hit.

Although faster in some areas than others, the EU/UK is farther down the green energy rat hole than in North America, so the $1000/month heating bill for your 800sf house will take you ever closer to serfdom.

That’s what people voted for, and that’s what they’ll get.

Man made shortages and price increases, enjoy the fruits of your voting decisions.

#87 50 YEARS OF MAPLE LEAF INCOMPETENCE! on 10.03.21 at 7:07 pm

DELETED

#88 -=withwings=- on 10.03.21 at 7:09 pm

shrug.

IN 5 years he will be well into the equity, his salary will have naturally risen. The payments will seem normal. Life will be good.

No one has money the first year of home ownership.

#89 SoggyShorts on 10.03.21 at 7:18 pm

#83 Woke up this morning… on 10.03.21 at 6:01 pm
#78 SoggyShorts
You think Natives of this land don’t want their land back? Would refuse to take it back? Aren’t arguing for it? Haven’t been fighting for it forever?
*********************
No, they absolutely do not want it back the way it was.
As #84 Nonplused on 10.03.21 at 6:03 pm points out, if you want it back, you get it as it was: No roads, no rails, no electricity, nothing..
You want out of our capitalist society, fine: no access to any of the above either, same for medicine or anything else we’ve made.

Again, if anyone wanted to live such a life it’s there for the taking, just spin around until you face north and start walking.

#83 Woke up this morning… on 10.03.21 at 6:01 pm
#78 SoggyShorts
Think about it – would it hurt you so much if you only bought every second thing you want to buy and walked away from every second one with a hard “NO”?
**********************
Totally separate conversation and Natives are just as welcome to not buy things as I am.
Not that it’s relevant at all, but I’m not much of a materialist myself: $5,000 would replace everything I own and as we pack for our move to Mexico it seems like everything will fit in 3 suitcases + carry-on.
Perhaps above average on consumption though depending on how it’s measured: I like to travel and eat out.

#90 Sail Away on 10.03.21 at 7:25 pm

#85 Sara on 10.03.21 at 6:20 pm

Re: EQ, IQ

———

Well. I, for one find my high EQ to be a significant liability as I continually suffer the ravages of excrutiating emotional anguish and compassion fatique. Sad!

#91 Steven Rowlandson on 10.03.21 at 7:27 pm

Sounds like a total screw over and the only winning move is not to get involved in real estate.

#92 catralph on 10.03.21 at 7:39 pm

I believe the legislation that will establish the FSHA will be successfully challenged as a violation of the equality rights protected in the Canadian Charter of Right and Freedoms as it discriminates on the basis of age. There are many people over the age of 40 that are just as disadvantaged as those under 40 in regards to their financial ability to purchase a home.

#93 The West on 10.03.21 at 7:40 pm

“Feudalism”

:) indeed

#94 Faron on 10.03.21 at 7:50 pm

#85 Sara on 10.03.21 at 6:20 pm
@Faron, BTW, I wasn’t referring to you (in case you thought I was).

Don’t let the low EQ, low IQ types who could care less about climate change (amongst other issues) and get off on bullying you, get to you. They rejoice when they think they have dragged you down to their level, but they never do

Thanks Sara. Well, I do regret my short bus remark because it hurt Milmech whom I have respect for. I know better. Penny, Imgonnabesick and BillyBob were just expressing mock outrage because it was convenient for them.

Back to the start of the thread,I’ve finally read enough about the happenings in Tofino to take a dim view of our PM. I was giving him the benefit of the doubt that he may have visited with the local FN bands, but he failed to. Reminds me of 2015 except at least then there was relief that Harper was finally sent to the scrap heap.

Hope you had a fantastic weekend. I’ve spent mine under a regime of harsh, friendless self abnegation. A mustard sandwich would have been manna.

Just kidding. My WE was a joy.

#95 KLNR on 10.03.21 at 7:52 pm

If you have the means to help your kids out do it, I know I will. Problem starts when bank of mom doesn’t have the means and is taking a second mortgage out on her home to do it.

#96 Roial1 on 10.03.21 at 7:52 pm

#15 DOn on 10.03.21 at 12:27 pm

I was happy renting. My wife not so much. At the end of the day a happy wife is a happy life and that is all that matters. Plus, when prices do fall I can say ” I told you so” with a very smug face. :)

I STRONGLY advise you NOT to do that. You could end up in Divorce court.

Unhappy wife very bad life.

#97 Ponzius Pilatus on 10.03.21 at 7:57 pm

I see there is an oil spill off the coast of Southern California.
Apparently there is a pipeline there.
Talking about IQ and EQ.
Why would anyone be allowed to build an oil pipeline in a earth quake zone, close to one of the densest populated area on the planet.
II was build in the early 70s, and according to the CEO is inspected every other year. So it’s about 5O years old.
Apparently, the company is Texan.
Probably just another ploy to get Californians to move to Texas.

#98 Russ on 10.03.21 at 7:59 pm

Sara on 10.03.21 at 6:20 pm

@Faron, BTW, I wasn’t referring to you (in case you thought I was).

Don’t let the low EQ, low IQ types who could care less about climate change (amongst other issues) and get off on bullying you, get to you. They rejoice when they think they have dragged you down to their level, but they never do.

—————————————————–

Sara dear,

Nobody needs to drag Mr. Faron down to a level.

He does it all on ‘is own, m’ lady.

Cheers, R

#99 Glass houses... on 10.03.21 at 8:03 pm

#85 Sara on 10.03.21 at 6:20 pm
@Faron, BTW, I wasn’t referring to you (in case you thought I was).

Don’t let the low EQ, low IQ types who could care less about climate change

Isn’t it “couldn’t care less” ? I would have thought such a high-IQ type such as yourself would get that…

#100 mattbg on 10.03.21 at 8:12 pm

With this and all the other new spending that the election campaign induced, it seems to me that this election cost us a lot more than the $600M price tag quoted in the media.

#101 Ponzius Pilatus on 10.03.21 at 8:25 pm

#76 The Woosh on 10.03.21 at 4:45 pm
65 Yukon Elvis on 10.03.21 at 3:43 pm
#40 Sail Away on 10.03.21 at 1:53 pm

For the Sail Away dynasty, membership confers benefits such as: housing, financial stability, paid education, investing oversight, general material goods, and advice… always the advice. So yes, of course money is provided if needed, or loans co-signed if that’s more beneficial to the system. Registered accounts are created and topped up immediately for kids upon reaching the age of majority.

There is stress enough in studying, starting a career and raising a family. If we can reduce stress and help long-term stability for the extended family by judicious use of money… of course it’s done. Similar to a business, no part can be allowed to fail unecessarily.
++++++++++++++++++++
Amen. Especially the education part. You can’t lose it, no one can take it from you, and you will not get stripped of it in a divorce. I remember what it was like to struggle, no way I would ever let my kids/grandkids go thru the same.

————————————

Looks like you’re confounding “struggle” with “effort”. Is that why wealth is often lost by the third generation? Everything given in the second generation that they don’t have the knowledge to retain what was built up from the 1st generation…and then all gone by the time they get to the 3rd
————
Well said, Whoosh.
The “3rd generation paradox” has been studied and confirmed by many experts in the field.
It is the subject of a Nobel prize winning book by the German Author Thomas Mann, called “Die Buddenbrooks”.

Parents: Nowhere is it written that you should wipe your kids asses until the day you die.
Help out, but realize they have to earn their own money to truly appreciate its value.

#102 Drinking on 10.03.21 at 8:26 pm

Let me get this straight; he proudly bully bid on numerous homes only to set prices higher in doing so, buys one and now complains on how harsh his life is??? This country has gone nuts, I REALLY have no more words regarding this individual, face palm!!!!

#103 Ponzius Pilatus on 10.03.21 at 8:30 pm

#100 mattbg on 10.03.21 at 8:12 pm
With this and all the other new spending that the election campaign induced, it seems to me that this election cost us a lot more than the $600M price tag quoted in the media.
—————-
Thank you for bringing this up.
I’m still waiting for someone to tell me what the 600 mill was spent on.
This accountant just gotta know.
Do you know?

#104 The Woosh on 10.03.21 at 8:34 pm

#92 catralph on 10.03.21 at 7:39 pm
I believe the legislation that will establish the FSHA will be successfully challenged as a violation of the equality rights protected in the Canadian Charter of Right and Freedoms as it discriminates on the basis of age. There are many people over the age of 40 that are just as disadvantaged as those under 40 in regards to their financial ability to purchase a home.

———————————

It will undoubtedly be challenged and then be opened up to everyone. And then what happens…KaChing. Another nice bump up on the value of real estate just as everyone begins to think that prices are stagnating once again. Ah, those crafty politicians…what will they think of next?

#105 Sara on 10.03.21 at 8:44 pm

#99 Glass houses… on 10.03.21 at 8:03 pm

Isn’t it “couldn’t care less” ? I would have thought such a high-IQ type such as yourself would get that…

—————-

CEF, is that you?

The “could care less” crowd must have rubbed off on me as I almost always write “couldn’t care less” and agree it makes more sense to do so.

However, “Merriam-Webster treats the phrases couldn’t care less and could care less as synonymous, both meaning “not concerned or interested at all.” “Couldn’t care less” is the older and more obvious phrase grammatically, but it has been confused for so long that both are now defined. ”
https://www.merriam-webster.com/words-at-play/could-couldnt-care-less

#106 Kitty Kaboom on 10.03.21 at 8:53 pm

FHSA — with affordability issues abound in housing and the marginal buyer priced out at the bottom of the ladder — maybe the Liberals decided it was a good idea to juice that side of the market with this public-funded down payment to unlock affordability in the short-term, grease the steps of the property ladder for mobility up (or down) and help unlock affordability for move-ups. Stoke demand at the bottom and let the wave ripples move up the ladder. Invisible paper wealth for all — as long as you hold….

-MEOW

#107 Ponzius Pilatus on 10.03.21 at 8:57 pm

#92 catralph on 10.03.21 at 7:39 pm
I believe the legislation that will establish the FSHA will be successfully challenged as a violation of the equality rights protected in the Canadian Charter of Right and Freedoms as it discriminates on the basis of age. There are many people over the age of 40 that are just as disadvantaged as those under 40 in regards to their financial ability to purchase a home.
—————
I’m no constitutional expert, but I understand that “The right to housing” become law in 2019 under Bill C-97.
But I don’t think Bill C-97 enshrines the “right to OWN housing”.
So, I’m not sure if a challenge would be successful.

#108 Mattl on 10.03.21 at 9:17 pm

I don’t have a dog in the Faron vs the world fight….but he has a bigger set then the anom, multi post wierdo’s. Takes courage to post with your own name, and own your opinions. Garth has always had the courage to say what he thought, Faron is in the spirit of the blog. And I say that as someone that is has a different worldview.

Anom braggarts and anecdotes are boring, we all know this.

#109 -=withwings=- on 10.03.21 at 9:24 pm

@ #97 Ponzius Pilatus
I see there is an oil spill off the coast of Southern California.

True

Apparently there is a pipeline there.

False.

Why would anyone be allowed to build an oil pipeline in a earth quake zone, close to one of the densest populated area on the planet.

No one has.

There are Oil rigs off the coast of LA/Long beach. You can easily see them on google maps. Those oilrigs have pipes to the shore. That is what was leaking.

#110 Ponzius Pilatus on 10.03.21 at 9:38 pm

#109
I stand corrected on the pipeline.
But the rest of my post stands.

#111 crowdedelevatorfartz on 10.03.21 at 9:43 pm

Geez, who knew I.Q. vs E.Q. would trigger such a rousing debate………?

It must be our S.Q. kicking in…

I love it when Sara rouses me.
( Full disclosure; My S.Q. is lower than my I.Q.)

#112 Russ on 10.03.21 at 10:29 pm

For Sara.

Quite a few years ago a friend, in London, said “I can’t be asked.”, when we we discussing a bit o’ trivia.

And I said, “What!’. She really said arsed.

—————————–
As per Tony, a Brit:

All good answers and it reminds me of how uniquely useful British expressions are often adopted by our cousins across the Atlantic, Americans and then somehow made to lose all their meaning. I’m think particularly of:

“I couldn’t care less” (UK) which somehow became “I could care less” (US).

To my mind, “I couldn’t care less” makes perfect sense – it’s a shorthand expression meaning “I care nothing for this topic / issue / event / thing, and I want nothing to do with it because I currently care nothing for it and therefore could not care less (than nothing)”.

“I could care less” on the other hand seems to mean “I currently care to some degree about this topic / issue / event / thing therefore I could care less” (than nothing). But why would anyone advertise or telegraph that reality? What you’re saying is: I care a bit about this but I could – care – less about it if it were less important to me than it currently is. FULLY Monty Python logic.

There are others, I could list them, but I can’t be arsed.

Anyone fancy a pint?

Cheers, R

#113 millmech on 10.03.21 at 10:32 pm

Here is another post on reddit for those that think housing only goes up and is a cash cow.
https://www.reddit.com/r/PersonalFinanceCanada/comments/q0so4c/condo_special_assessment_advice/

#114 BillyBob on 10.03.21 at 10:47 pm

#16 Faron on 10.03.21 at 12:28 pm

Your ethical topography is convoluted BillyBob. You have frequently implied homosexuality is some kind of failing. Maybe just send us a list so we know which woke principles you adhere to and which you don’t. I’ll send you mine for clarity. Hope your are enjoying our Vancouver Island scorched hellscape of misery.

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

Always with the same tactics. Historical revisionism to try and win some meaningless argument. Did you tire of doing it with SailAway or something?

Please show me where I’ve ever been remotely negative about homosexuality. What you’re referring to is when you first started showing up in this merry band of miscreants and I mistakenly assumed you were gay. Which I had – and still would have – no problem with. The person my error caused grave offense to was you. Perhaps you should ask yourself why? It obviously still bothers you.

But nice try at deflecting from your own willingness to take shots at the disabled. Your apology is straight from Trudeau’s playbook and just as sincere – someone calls you out and you can’t walk it back so out with the crocodile tears. Another day, another apology. No one is fooled.

https://www.cbc.ca/news/politics/trudeau-apology-tk-emlúps-1.6198140

Oh, I was only in Vic for the day to see family. Then I was off to eat sushi.

In Tokyo. Essential worker and all.

You could use your VR goggles to see what that’s like, I suppose. Since the internet is basically just like real life except funner.

#115 Sara on 10.03.21 at 10:53 pm

#111 crowdedelevatorfartz on 10.03.21 at 9:43 pm

I love it when Sara rouses me.

===============
Eww.

#116 Woke up this morning... on 10.03.21 at 11:04 pm

#84 Nonplused on 10.03.21 at 6:03 pm
#71 Woke up this morning… on 10.03.21 at 4:14 pm
#56 SoggyShorts

So your explanations is that we should keep screwing the Natives out of the land stolen from them just recently because they may’ve been screwing people out of it before?

****************
No, I’m saying that we can’t “give the land back” unless we know who we should give it to. You lumping all natives into one group is quite frankly racist.

————————————-

I’m not giving anything back. But I’ll pay for the value of my land as it was before the railroad got built. So about $10 per section. I have 2 acres. 2/640x$10 = $0.03. Where do I send the check? Of course there has been a wee bit of inflation over the years so I probably owe about $1.09. I’ll gladly pay it just to avoid having to scroll over this conversation anymore.

Land is worth way more than $0.55 cents an acre now you say? Well sure, but the improvements and infrastructure belong to those who built them. Prior to the infrastructure being built this was mostly scarcely inhabited grassland. Then we built railroads, roads, irrigation canals, dams, power grids, factories, cities, water and sewer treatment, brought in tractors and tilled the land, hospitals, schools, law and order, airports, and all kinds of other things. That is what makes the land worth something today.

If we are serious about “giving back the land”, we need to tear out all that infrastructure and return the land to its’ original state first. Do you think anybody really wants it then?

———

SoggyShorts, seriously, I enjoy your logic that Natives continue to have their rights violated because we should be taking it upon our selves to undo wrongs beyond the wrong done to Natives, as if it is our domain to do so.

Nonplused, there is so much wrong with your statements, I’m like…wow.

First “I’ll pay for the value of my land “?

YOU DON’T OWN THE LAND! The Queen does. She’s letting you be on it for the pleasure of charging you all kinds of taxes. You do not own it. You have land tenure. You are in fact The Crown’s tenant, nothing more.

Second “Well sure, but the improvements and infrastructure belong to those who built them.”

That is highly debatable. You may have done things to keep your house in good order, and you’ve enjoyed it. But if you don’t pay your taxes, they’ll take it all, improvements and infrastructure included. I mean, you could move your house, but who does?

This applies to property and to items. Say you buy a truck that was stolen, and before you find out by registering the transaction tyou do a full restoration. Then you go to register and it has to go back to the rightful owner, all improvements included. You don’t get to keep the improvements.

I’m quite certain that any land returned to Natives wouldn’t have critical infrastructure like nuclear power plants or factories. I mean, to date they didn’t even give them land that had drinking water, and any water there often got polluted up-stream by industry. But if they were giving any infrastructure, I have a feeling they would damage it somehow in spite before handing it off to Natives.

Just like I’m sure you’d have a bit of fun with a hammer on your repossessed home before handing over the keys and moving out.

I don’t get you guys. This is not a defensible claim to deny these people the proper share of land. Australia did it, and so will Canada, sooner or later. What’s right is right. What’s ethical is ethical. And you can see that wrongs are not defensible – no matter how you try.

I mean, you guys had to resort to justifying your wrongs with other wrongs. How crazy is that? If I killed because someone else killed…am I free to go?

#117 Woke up this morning... on 10.03.21 at 11:13 pm

#89 SoggyShorts

GOOD!

Seriously, we don’t need much. Stuff is actually a stress in my life. I want to get rid of a lot in the most responsible manner possible – where it finds a new use instead of going to the dump or killing turtles.

#118 fishman on 10.03.21 at 11:25 pm

Did I miss something? What happened to that comment of mine that was stolen along with 60 other pearls of slobber doggie bloggie wisdom last Sunday? First the flag, now this. Are we paranoid yet? Get those lazy grooms to roust the horses. Saddle up the Queen’s Cowboys? Meanwhile I suffer with Trump. I feel his pain. Guilt & shame too. As one with the struggling masses eagerly yearning; but denied our pure thought. Can inner fortitude & the expectation of celebrity status find our culprits, our words, our flag?

#119 Sara on 10.03.21 at 11:49 pm

Too bad. So sad. Expect more of the same in other provinces.

“A Court of Queen’s Bench justice in Saskatoon has ruled against a group arguing that the province’s proof-of-vaccination policy is in violation of the Charter of Rights and Freedoms.

The court application was brought forward by former People’s Party of Canada candidate Mark Friesen as well as the groups Concerned Citizens (Estevan) and Unified Grassroots.

“The proof of vaccine requirements being put into place to address the pandemic are in line with provincial and federal legislation, and the Canadian Charter of Rights and Freedoms,” read a statement from the provincial government. ”

https://www.cbc.ca/news/canada/saskatoon/court-tosses-challenge-to-vaccination-policy-1.6196708

#120 Faron on 10.04.21 at 2:44 am

#114 BillyBob on 10.03.21 at 10:47 pm
#16 Faron on 10.03.21 at 12:28 pm

take shots at the disabled

The only disabled I was shooting at were Penny and Imagonnabesick. I can’t be arsed to dig up your recent slight about gay people. Another commenter noted it. I recall checking and being not surprised. And then there are your apparent views about mental illness and weaponizing it against me. All very telling. As I said, mock outrage.

Regarding your trip to Vic. You seriously would spend a chunk of your lone day seeing family with an internet stranger. And your family would think…? What exactly? I can’t even begin to fathom that one. When I am lucky enough to be home with loved ones I don’t check in with the local proud boys chapter to see if they want to join for BBQ. Unless… Oh, right, that was just macho posturing. I probably wouldn’t have found you at Maude’s either. And really, Maude Hunter’s?… The crappiest student bar in town? Where everyone is 1/2 your age? Creepy, man. The more I learn about you, the worse my GERD gets. Little burbles of vomit will do that.

#121 Faron on 10.04.21 at 4:01 am

#108 Mattl on 10.03.21 at 9:17 pm
I don’t have a dog in the Faron vs the world fight….but he has a bigger set then the anom, multi post wierdo’s. Takes courage to post with your own name, and own your opinions. Garth has always had the courage to say what he thought, Faron is in the spirit of the blog. And I say that as someone that is has a different worldview.

Anom braggarts and anecdotes are boring, we all know this.

Thanks. To be clear, it’s not v. World. This blog represents a tiny fraction of possible viewpoints although some commenters seem to envision themselves as all-knowing gifts from god. The commenters here are heavily concentrated in a viewpoint I disagree strongly with because, ultimately, it boils down to sheer greed and self-interest. These are two characteristics that cause great harm.

#122 Zen Investor on 10.04.21 at 4:14 am

Is it time to buy the dip? Yet or too soon? Climb the wall of worry. This market separates the men from the boys. What’s to panic over? Yet many panic…why?
Evergrande, seized by media as a prelude and catalyst to an apocalypse, but is it? Seems like no default, no contagion, plenty of assets still to sell, China on the hook, not Wall St.

https://www.cnbc.com/2021/10/04/evergrande-set-to-sell-part-of-stake-in-property-services-unit.html

Whose media is it stoking fear? Who’s paying them to scare you? Why? Wanna make money? Better wake up.

#123 Howard on 10.04.21 at 6:54 am

DELETED

#124 TurnerNation on 10.04.21 at 7:09 am

You guys ready for the Great Consumer Recession of 2022-2025 – in Kanada?
Here’s how it is going down.

– Price inflation, man-made supply chain shortages.

– Systematic firing of the middle class – those which will not submit now and yearly, to the New System.
It has begun. Target Oct-Nov. The UBI should be in place by 2022. The global corporations are to run the New System.
Governments’ job is only to bankrupt our nations.

– Interest rate hikes and new taxes upon taxes will hit the real estate economy.

– ALL Leaders are on board with this. Those which were not were all fired in Jan 2020. Recall “holiday travel”/CV rules was the cover story.

– That stupid leaked memo calling for Q3 supply chain shortages and military on the streets?
(And not one penny of all T2’s spending went toward provincial health car. In fact they TORE DOWN the field hospitals in Vancouver, Toronto, Hamilton).
What is the goal? This:

.Military nurses to land in Alberta Monday to ease health-care strain from COVID-19 (cbc.ca)

#125 TurnerNation on 10.04.21 at 7:32 am

They are still playing us hard. I told this to people I know in Q2 April 2020. They didn’t want to admit they’d been fooled. Fool me once.

From the Bats & Wet Markets dept:

.Fauci says it’s ‘too soon’ to know if US families can gather for Christmas (dailymail.co.uk)

.Nearly 2 million Israelis lose Green Pass as new rules enter effect (timesofisrael.com)

——–
——– As predicted

#16 TurnerNation on 04.08.21 at 1:06 pm
I’d bet on a sever consumer recession 2020-2024 in Kanada
Pick any two:
– Rising interest rate.
– Tighter credit regs.
– Selling ahead of Capitals gains tax on Principle residence.
– 20+% unemployment due to cripping rolling Goverment shutdown Sanctions.
– 65% of employees in Ontario, are considered “Essential”. 35% will get the UBI
– Job Losses in New Green Deal:
“The Globe and Mail reports in its Tuesday edition that three-quarters of the Canadians employed in oil and gas could lose their jobs as the country pursues ambitious climate targets, according to a new report from TD Economics

— The Economic Shutdown will continue..until. Our rulers play the long, long game. UBI chatter.
…………..

#23 TurnerNation on 05.16.21 at 1:35 pm
–Why I predict a severe consumer recession 2022-2024:

#126 crowdedelevatorfartz on 10.04.21 at 8:13 am

@#119 Sara
“Too bad. So sad. Expect more of the same in other provinces.

“A Court of Queen’s Bench justice in Saskatoon has ruled against a group arguing that the province’s proof-of-vaccination policy is in violation of the Charter of Rights and Freedoms.”

+++

The Canadian “justice” system.
When it’s not pretending it’s the Dept of Fisheries with it’s “catch and release” program.

It hands down pointless drivel that the real world must deal with.
Aloof, arrogant, increasingly….. irrelevant.

#127 Phylis on 10.04.21 at 8:34 am

#120 Drinking on 10.03.21 at 7:52 pm I use the app called ‘flipp’. It is an aggregator of flyers of the stores in the area (not sure if it is country widej. It tells you what’s on sale. It works better than going to individual sites and fumbling around to find each flyer separately. No sign up and free, well, for now and yes boys, it even includes princess auto.

#128 Woke up this morning... on 10.04.21 at 8:49 am

Well, well, well…

Remember what I told you about that psychopathic mantra: It is better to ask for forgiveness than permission?

https://www.theglobeandmail.com/politics/article-trudeau-apologizes-to-bc-first-nation-after-travelling-to-tofino-beach/

Time for your Monday morning dose of Nirvana! All Apologies.

What else should I be?
All apologies
What else could I say?
Everyone is gay
What else could I write?
I don’t have the right
What else should I be?
All apologies

…All alone is all we are

#129 Woke up this morning... on 10.04.21 at 8:55 am

Yo, TurnerNation, I’m sure you saw…

nearly 2 million people will lose their vaccination passport in the coming days. (without a BOOST!)

https://globalnews.ca/news/8239533/israel-covid-green-pass-booster-shot/

#130 SunShowers on 10.04.21 at 9:14 am

And capitalism is feudalism that justifies its own existence by promising the serfs that *one day!* they’ll be a lord themselves.

#131 ImGonnaBeSick on 10.04.21 at 9:15 am

#121 Faron on 10.04.21 at 4:01 am

How many battles do you want to fight ol’ boy? You’re embarrassing yourself at this point.

I’m more than happy to let you off the hook, because as I said, it felt like I was kicking something helpless, and it’s just getting pathetic at this point.

Billy Bob is correct when he states you mo is historical revision, but it’s also faux outrage, as well as an attempt at feigning ignorance when you got caught saying something uncouth. You can look back, I gave a pass on that, because I knew you were trying to take some shots, but as I said earlier, you’re just not very good at this game. You take some light ribbing as an international crisis. Everything you think I said, you made up. An hour in a room with you, and I’d have you attempting backflips, just to prove I’m wrong. You’re not healthy mate. It was in fun banter before I realized that you most likely have some very serious mental issues.

Remember, this all started because I thought you were a nitwit for giving T2 a pass on yet another example of blatant hypocrisy You were the one that spent his breakfast digging through countless comments, to try to dig up dirt.

Go talk to someone… You’re spiraling.

#132 DownToFinance on 10.04.21 at 9:27 am

Basically had to buy because our family has two dogs and moving to a new city not a single half decent place that was not coackroach infested was willing to rent to us. It sucks but it’s the truth. If you want to have the flexibilty and affordability of renting, you can’t have pets.

#133 Dharma Bum on 10.04.21 at 9:31 am

Mr. Immigrant Man is complaining that carrying that newly purchased house that sapped him of his life savings, while the debt service practically cleans out his disposable income hasn’t seen anything yet.
In time, those three children will snowball into a financial burden that will hit him like a Japanese tsunami!
That’s the real issue looming.

Wait for it……

https://www.youtube.com/watch?v=iwP5zVP2bgU

#134 ProsperosBooks on 10.04.21 at 9:47 am

Here’s the issue – it is very hard for young families to find a long-term, suitable rental. And families need some permanency because kids are usually enrolled in the local school and moving is tough. My colleague has been renting for a few years with her young kids in a small cottage town up north – the owner is selling the place and she’s stuck with two kids who go to the local school, scrambling for a new home in the same area. She has no place to go – she’s moving in with her grandmother until she can afford to buy. There is 0 rental stock locally. I get what you’re saying, but it’s brutal out there for renters – especially with 2-3 kids.

#135 Sail Away on 10.04.21 at 10:13 am

Supply chain bottlenecks? Tesla still pulls off record third-quarter deliveries:

https://insideevs.com/news/537046/tesla-q3-2021-deliveries/

#136 Doug in London on 10.04.21 at 10:21 am

@Quintilian, post #58:
What you said is debatable. Way, way, way, way back in January 1980 I remember on TV seeing people in long lineups to buy gold at $800 per ounce. I was just a dumb naive kid, 19 years and 2 months old. When I saw that I thought, wouldn’t it make more sense to be be selling gold right now rather than buying it? Fast forward 5 years to 1985 and I failed a college financial course. If an idiot like me, who is nowhere as smart as an IT person, can see the logic of not buying something I can’t afford then a highly educated man has NO EXCUSE WHATSOEVER.

#137 Ponzius Pilatus on 10.04.21 at 10:52 am

#126 crowdedelevatorfartz on 10.04.21 at 8:13 am
@#119 Sara
“Too bad. So sad. Expect more of the same in other provinces.

“A Court of Queen’s Bench justice in Saskatoon has ruled against a group arguing that the province’s proof-of-vaccination policy is in violation of the Charter of Rights and Freedoms.”

+++

The Canadian “justice” system.
When it’s not pretending it’s the Dept of Fisheries with it’s “catch and release” program.

It hands down pointless drivel that the real world must deal with.
Aloof, arrogant, increasingly….. irrelevant.
———————
The same could be said about the American Supreme Court.
They soon will again make rulings regarding abortions and guns.
Still stuck in the 19th century.
The problem is the common law system.
Keeps on referring to the past.

#138 Zen Investor on 10.04.21 at 11:17 am

OK. Who did the math on what our new immigrant IT worker making $130,000 ? I did my own back of the envelope and concluded his statement about ” hand to mouth living” is likely truth and worse than many realize if he’s taken out the ” average 7 Figure mortgage.

Sad but we have to assume and did…by his own admission he ” went over budget and cleaned his accounts out”. My guess after tax and prop tax and municipal utility, general expenses like internet etc etc ad nauseum, this family only has a few hundred to spare …a million dollar mortgage alone is $6000 out of his $90k after basic income tax. Add up everything before groceries and these people are truly screwed.

We know rates and taxes can only go up. If he’s in ONT then the Gerald Butts Energy Poverty Scheme will suck up extra hundreds in energy and heating this winter. Getting to work? Gas is slated to double. Grocery inflation tax at double digits. Looks like Energy Starvation for homeowners starting very soon will shock the nation this year

Expect cost of imports to skyrocket. China and India are looking at extreme shortages if heating and industrial coal. Everything at Canadian Tire is made in China. Inflation is bucking the trend, no longer temporary.

Natural gas exports were killed by Trudeau. Just at a time when Canadian companies could have filled the government coffers. Mining is strangled by Trudeau policies, just when the world is paying the most, Trudeau kills off the industry.

With starvation happening how will higher taxes solve anything? I don’t know, ask the ” Super Geniuses” Gerald Butts had ” work” the election on Trudeaus behalf.

I’m an investor, biding my time, getting my dividends in cash. I hope you’ve done the same. Of course if you voted for Trudeau because he promises to being more of your tribe and faith into Canada then your not concerned.

#139 Penny Henny on 10.04.21 at 11:26 am

#131 ImGonnaBeSick on 10.04.21 at 9:15 am
#121 Faron on 10.04.21 at 4:01 am

You’re not healthy mate. It was in fun banter before I realized that you most likely have some very serious mental issues.

Remember, this all started because I thought you were a nitwit for giving T2 a pass on yet another example of blatant hypocrisy You were the one that spent his breakfast digging through countless comments, to try to dig up dirt.

Go talk to someone… You’re spiraling.

///////////

I’ve said it before as I am sure others have too. Stick to your meds Faron.

#140 zxcvbnm on 10.04.21 at 11:35 am

I can tell that Faron’s and Sara’s paycheques are public money. They spend more time posting here than doing sudoku puzzles at work.

#141 IHCTD9 on 10.04.21 at 11:35 am

This dude won’t cut his big grocery bills, and won’t move out of the GTA. On top of that, his mortgage is likely an unconventional non-bank loan at 6X income, plus it’s fixed – so that miniscule 2800.00 mortgage payment he cites tells it all: All his suffering is absolutely 100% for some soggy bottom end junk GTA $h!tbox sfd.

“…but it’s up 10-15%”.

I cannot even fathom the fallout if something rocks this market. I’ll bet this dude is but one of hundreds of thousands in the exact same boat.

#142 ImGonnaBeSick on 10.04.21 at 11:47 am

Apologies to the other commenters here, to Garth, Doug, Ryan and Sinan. Please just skip over unless you’re the type that enjoys a train wreck, but this has gone far enough and I’m worried I may have actually done some harm to a complete stranger. This will be my last post on the subject, but I think I needed to take 15 mins in the vein of trying to help this poor sod out. (Forgive my formatting, it may not work at all).

Faron, you created and assigned a persona to me. If we were in the same room, this is where I would take you aside and explain the dynamics of male relationships… But first, let’s do some detective work here shall we?

Here is your rebuttal to my … And F(a)ron, the reason why Trudeau renting an $18m lodge, and going to the beach yesterday is a big deal, is because he created Truth and Reconciliation Day, it was the very first one, it’s supposed to be akin to Remembrance Day, and his itinerary said he was in private meetings in Ottawa, you nitwit.;

—-

#127 Faron on 10.02.21 at 2:17 am

And it’s utterly laughable that you suddenly care so much about Truth and Reconciliation. It would be interesting to dig into the archives to see you whining about rail blockades or saying dumb crap about residential schools etc. You are a hypocrite on par with Trudeau is my guess.

—-

You made this all up. So I said go ahead and try to dig up some dirt on me. Then, after a day of “research”, you thought you’d take a swipe with this;

—-

#8 Faron on 10.02.21 at 10:58 am

And it’s Faron, with an “a” you childish dolt. I don’t give you much credit, but didn’t think I was arguing with an 8 year old.

—-

You created the argument… I hadn’t said anything else to this point. You made up a boogeyman. I know your handle is Faron, I just prefer(red) to call you Foron. It’s a tease. So I called you a weatherman, and you blew a gasket and responded with this gem;

—-

#64 Faron on 10.02.21 at 3:23 pm

Doubles down on name calling and idiotic COVID takes. And we already know your beliefs about climate change. Well done stud. This comments section is a great resource for a master class on troglodytics. You’re a real chestnut of the genre.

—-

I hadn’t said anything about Covid or climate change.. ?? I still love this troglodytics… And please refrain from trying to elighten me on my beliefs. It just gets more absurd as it goes on. This is where you tossed your bus comment out (oof – that sure had unintended consequences). I hadn’t even commented yet;

—-

#86 Faron on 10.02.21 at 7:18 pm

Would that be the same school you and he take the short bus to? Pretty sure the only thing you’ve ever helped is yourself to another scoop of mashed taters. The only thing Ima-gonna-bea-sicka has ever been ahead of is his skis.

—–

Ouch… Not good. So I tried to help you out a bit and showed you how to toss some barbs. The 4-course meal joke was because you come off as a know-it-all and it was to setup the middle-aged bachelor joke. I have no idea if you’re a bachelor, what you look like, or what you actually do for a living (I gleaned it’s something with climate science). It’s all just jokes. Apparently they landed a bit too hard though, because this is the point where you came completely off the rails. Brought in old “enemies” (enemies on a finance blog… phew). Now you were attacking everyone… At this point, I figured out that you have some deep-seated issues, and tried to let you out of it with this;

—-

#109 ImGonnaBeSick on 10.03.21 at 9:13 am

Ugh, this is getting gross. It feels like I’ve kicked a puppy…

—-

Here you attempt to get some allies, and end up describing yourself pretty well.. At 4am in the morning, mind you;

—-

#121 Faron on 10.04.21 at 4:01 am

… This blog represents a tiny fraction of possible viewpoints although some commenters seem to envision themselves as all-knowing gifts from god. …

—-

But only after you tossed this out an hour earlier;

—-

#120 Faron on 10.04.21 at 2:44 am

The only disabled I was shooting at were Penny and Imagonnabesick.

—-

I just hope this has helped you in some way. You created this out of nothing because why? You were bored on a weekend? Nothing said on here has any meaning – it’s strangers talking nonsense for the most part. Honestly, I usually just skip your comments unless you’re posting constantly, and then I have tried to tell you to take a break. I don’t know if you’re just a lonely dude or what, but it’s quite obvious your friends didn’t tease eachother when they were getting up on themselves. Anyways, I apologize if I hurt your feelings, but you really don’t do yourself any favours. I was serious when I said Get some help F(a)ron… Maybe finally go for that walk, sit on the bench for a bit, get your head straight…

#143 IHCTD9 on 10.04.21 at 12:00 pm

#134 ProsperosBooks on 10.04.21 at 9:47 am
Here’s the issue – it is very hard for young families to find a long-term, suitable rental.
_____

True.

Toronto has the highest interprovincial migration losses in the entire country – up over 300% at last reporting. Of this group the largest fraction by far were the Mills.

I’d bet a giant slice of the total comprise just two groups: Retirees cashing out, and young couples planning on starting a family.

Unless you earn a massive HH income, think long and hard about the ramifications of GTA family rearing. IT dude didn’t think about anything beyond just how big his bully bid needed to be to “win”. He stuck it to himself.

He was hoping the kids would get cheaper as they got older LOL! He better have ~350K saved up in 14 years if he wants his kids to get a worthwhile education. I got two in their late teens, and they’ve never been so expensive as they are now. The Uni cost for two kids well exceeds IT-Dude’s current mortgage payment.

IT-Dude just ain’t too bright, plain and simple.

#144 Faron on 10.04.21 at 12:00 pm

#131 ImGonnaBeSick on 10.04.21 at 9:15 am
#121 Faron on 10.04.21 at 4:01 am

Just wow. It’s fascinating how quickly you go down the mental health road despite lobbing the first rounds of insults throughout our exchanges. Granted, I see from your discussion with Woke… that name-calling is perfectly in-line with healthy discussion. There are people here I disagree with but can converse with because they don’t lead with “Foron”. The only mistakes I made were using an offensive term and providing a large profile of my own thinking for crass jerks like you to snipe at as is your MO.

Also interesting that when I dig through posts it’s a problem, but when, say Sail Away does it, it’s fine? Apparently because it suits your views? Luckily for us nerds (grade school much?) Such digging isn’t terribly hard.

Anyhow, you seem pretty worked up for someone who sees me and my views as a harmless nonthreat.

#145 Immigrant man on 10.04.21 at 12:11 pm

I just like to point out that I am not that other “immigrant man” ) I live in the sticks… or is it Armpit? Anyways, in ON but far from the GTA madness. I make about the same as that other dude, close in age, but also my wife hauls in an additional 100k. However, if she was to stop working, we’ be fine. Food/services are a bit more here, but that is probably offset by a shorter daily commute. 400k for a 2000 sq ft house in a good neighborhood (doctors and lawyers for neighbors), and still have money leftover for reno$ (gotta keep the wife happy), helping family overseas (all proper immigrants do that), feeding/clothing/activities for the kids, contributing the max to the RESP and even some leftover for investments (that’s why reading this blog).

I am not bragging. I am fortunate to be where I am at cuz it wasn’t always like this. I am just saying there
there ARE jobs to be had, even in IT wherever there is mining industry. But yes, you don’t get to see your primary residence grow insanely. Also there is no doggie yoga in our town and not very many restaurants.

But oh well, if I have to live a second-rate life (anything outside of GTA or Van is 2nd rate I was told on many occasions) I’d rater be at the top in a small town then at the bottom in the big city.

#146 Nick on 10.04.21 at 12:17 pm

#52 VladTor on 10.03.21 at 2:47 pm

I remember couple days ago was comment where somebody was happy that his/her house increased in value for 300k for 4 years and he/she can’t make so fast his/her money just working same period.
___________________________

This was me. The point I’m getting at, is if I did not buy 4 years ago – I would certainly not have the “on-paper” gains of $300k – especially with increases in rent and living. Of course, I’m aware the market can change. However, even if house prices were slashed completely in half overnight, I would still not be in the negative. My home equity also allowed me to get a HELOC for $225K that I can invest in whatever I want. I just think people like to generalize the rent VS buy argument in favor of rent (when real estate is in a bubble). I think if you have a family (need to be close to certain schools, daycare etc), a good income that can easily afford the home, and don’t plan on relocating – how can owning an asset, that in 25 years will almost guaranteed be worth much more, be argued? Of course – buying a house above your means (like this article) is not wise. If I was in the market as a first-timer now, no way in hell I’d be buying.

My mortgage & property taxes are around $2k a month for a detached house in the suburbs (close to schools, 401 etc). If I sell to rent, I’m a victim of rent prices and landlords selling on me, moving, relocating, stress of all of that. For me to sell, pocket $300k, and use this for rent (which – for comparable property will be closer to $3k/month) I just don’t see the benefit? I own my house and can afford it. I’m not worried I will be told to move.

I do not mean to come across as rude, I just don’t see how if I never bought & I rented, or sold now to rent, how this would benefit me. Dave Ramsey said it himself – if you can afford the home – ownership of a home in the long-run will guaranteed increase your net worth over renting.

When I decide to retire, I will sell – buy a property up north for cash – and live mortgage/rent free.

#147 Immigrant man on 10.04.21 at 12:21 pm

btw, I am not even at the top here. Plenty more rich people then me here. Plenty. I am just barely good enough to get into the “good” neighborhood. But I am not scraping by either, which is an awful feeling. I lived on less than min wage before, my wife’s family had to burn hardwood floor for heat in a home-made can stove just to survive some hard winters in the 90s in the old country. So we’ve both tasted “scraping by” and renting a room. No thanks. Rather have my own.

#148 That guy on 10.04.21 at 12:25 pm

Thought: ban new immigrants from buying residential RE for so many years after coming here: say 10 years. Slow down the market a little.

#149 Sail Away on 10.04.21 at 12:28 pm

#144 Faron on 10.04.21 at 12:00 pm

Also interesting that when I dig through posts it’s a problem, but when, say Sail Away does it, it’s fine? Apparently because it suits your views? Luckily for us nerds (grade school much?) Such digging isn’t terribly hard.

———

Leave me out of this, Foron. Play with your straw.

#150 That guy on 10.04.21 at 12:31 pm

Second thought: sure it’s tough now, but over time his wages will increase due to cost of living increases even if he doesn’t climb the ladder.
So he has hope.

#151 IHCTD9 on 10.04.21 at 12:44 pm

#138 Zen Investor on 10.04.21 at 11:17 am
OK. Who did the math on what our new immigrant IT worker making $130,000 ? I did my own back of the envelope and concluded his statement about ” hand to mouth living” is likely truth and worse than many realize if he’s taken out the ” average 7 Figure mortgage.
___

He would not have got a 7 figure mortgage at a regular bank on 130K HHI I don’t think. He probably had to go alt-lender, and is paying rates well above what the bank would have charged.

His payment is only ~2800.00 or so – it probably means he bought a dump. Or maybe super long amortization? A 1 mil 25y mortgage at 2.0 even if he had 200K to put down is still 3400.00/mo. Putting down the min pushes the monthly over 4K on a Mil. Sure looks like buying the house wasn’t the only stupid thing IT-Dude did…

When Ms. IH and I set out to buy a house, and have kids, we did all this math BEFORE we went shopping. No WAY would I have wrecked my life by signing on to give all my money to the COL gods for the next 25 years. If we found ourselves losing bidding war #5 at 60%+ income, we’d be looking for another place to set down roots – it’s just a no brainer. IT-Dude didn’t think about that option, too late now…

#152 Dragonfly 58 on 10.04.21 at 12:45 pm

I don’t think Natural Gas exports are dead yet. As far as I know the British Columbia, LNG for export project is still more or less { some COVID related delays excepted } on track. 2023 completion is I believe still in the cards, and it is a very big project. There should be a very reasonable revenue , more so with world prices on the rise. I know the Gov. dropped royalty rates to get the ball rolling, but that is for a limited time only. Eventually the project should be a good earner for everyone.

#153 Michael in-north-york on 10.04.21 at 12:48 pm

#143 IHCTD9 on 10.04.21 at 12:00 pm

“He was hoping the kids would get cheaper as they got older LOL! He better have ~350K saved up in 14 years if he wants his kids to get a worthwhile education.”
===

That depends on the individual circumstances, but for many families – yes, school-aged kids are cheaper than preschoolers. Public schools are free, daycares and kindergartens are not free and are quite expensive.

And for the post-secondary, having TFSAs or other funds certainly makes the life easier, but as a last resort, they can get student loans.

I don’t disagree that Dan overstretched his finances. $130k single earner, isn’t that much after taxes. The Canadian tax code clearly favours two-income families. His family would be better off if they were renting. However once the deal is closed and all the expenses paid, selling and going back to renting may not be the best solution. I think I’d try to get by for the next 5-6 years without changing anything, and then once the youngest kid is in public school, his wife should try to start earning something.

#154 Woke up this morning... on 10.04.21 at 12:54 pm

This is how it will play out. As it does with all human greed. Eventually it comes down to just looking after your own wallet.

“The first obligation is going to make sure that homeowners who bought those homes take delivery and are made whole,” said Marathon Asset Management Chief Executive Officer Bruce Richards, who started buying Evergrande debt last week. “At the very end of the pecking order are offshore bondholders.”

For China, the risk of contagion far outweighs any potential damage from an Evergrande collapse on its own. Though Evergrande is one of the largest developers in China, it accounts for just 4% of sales in the country. A run on property firms in the wake of an Evergrande failure threatens to destabilize an industry that accounts for 29% of China’s economy, according to new research from Harvard University economist Ken Rogoff.

https://www.bloomberg.com/news/articles/2021-10-03/china-steps-up-efforts-to-ring-fence-evergrande-not-to-save-it

#155 IHCTD9 on 10.04.21 at 1:23 pm

#145 Immigrant man on 10.04.21 at 12:11 pm

…helping family overseas (all proper immigrants do that),
______

Except for IT-Dude I’ll bet.

If you think of all the obvious answers to this guy’s problems – he’s already thought of all of them and the answer was pre-entered as “NO” to every single one right off the bat.

IT-Buddy is 42, has no savings, 3 young kids, a giant mortgage he can barely afford, and no ability to save. I’ll bet he has a 5-6% 30 year B-Lender special too. He’s only been in Canada 4 years, so zip for OAS and jack for CPP, and he’s got no company pension – I guess he’ll be passing on retirement.

He’s screwed, what the hell was he thinking? If he doesn’t sell now while things are still frothy to avoid a post-Covid slump and possible rate hikes – he’s going to have one mother of an impossible situation to deal with…

#156 Shawn Allen on 10.04.21 at 1:39 pm

$100 Oil is here

West Texas Intermediate (WTI)_ oil just popped over $100 Canadian for the first time sine probably 2015.

Do no write-off Alberta just yet.

In fact, move to Alberta if you are looking for a change and opportunity. Do it now. This afternoon.

#157 James on 10.04.21 at 2:11 pm

#128 Woke up this morning… on 10.04.21 at 8:49 am

Well, well, well…

Remember what I told you about that psychopathic mantra: It is better to ask for forgiveness than permission?

https://www.theglobeandmail.com/politics/article-trudeau-apologizes-to-bc-first-nation-after-travelling-to-tofino-beach/

Time for your Monday morning dose of Nirvana! All Apologies.

What else should I be?
All apologies
What else could I say?
Everyone is gay
What else could I write?
I don’t have the right
What else should I be?
All apologies

…All alone is all we are
______________________________________

Trudeau is a fake, fraud and closet rasist. He is feminist and berates his MP and tries to get her to changer her mind on SNC. He is a liar on multiple points so many that I could be here for hours but go check his record out for yourself. He is a fraud for creating a day to remember the many innocent children that this country previously took from their ancestral homes and carted away to residential schools only to be left to the Catholic church to tend for them. So what does he do he goes for a a holiday with his family on the beach in BC.
Just remember people this is the miserable excuse for a leader that you elected to represent this country. No wonder we look like a$$holes to the world.

#158 Nonplused on 10.04.21 at 2:22 pm

#116 Woke up this morning… on 10.03.21 at 11:04 pm

“I don’t get you guys. This is not a defensible claim to deny these people the proper share of land. Australia did it, and so will Canada, sooner or later. What’s right is right. What’s ethical is ethical. And you can see that wrongs are not defensible – no matter how you try.”

Have you seen the land that Australia gave the natives? It’s useless and barren. Maybe there are some minerals there that can be mined at some point, but my estimate of $0.55 per acre is about right, perhaps high, for most of that land.

Let’s stop trying to conflate all things. This sort of argument that the queen in fact owns my land just because I have to pay taxes on it is silly. Whatever the structure in law I own the land and I pay the queen zero dollars in taxes on it; property taxes go to the municipality and the schools, not the queen. The queen sold the land and has had no ownership of it since. Maybe she stole it first but then she sold it. Cheese and crackers why do you even venture into these debates when you can’t get even one fact straight?

There is a difference between private and crown land, well established in law and even more so in practice. However nuanced it may be the queen does not won private property in any practical way and does not tax it either. Check your property taxes out sometime. (Assuming you have a house, you don’t sound like the sort who might.) There are no federal or provincial portions of your property taxes. Not even HST. Property taxes are a municipal thing and they pay for roads, water and sewer and such, and schools, and in certain areas police. The queen or federal government if that’s who you mean gets nothing.

You know what I do have to pay taxes on to the queen? (Well, not really, but the federal government.) Income. Among other things. But not on my land.

Some things can and should be done on the reserves, like addressing the drinking water problem. At the very least we can ship in some bottled water. (It should be noted that nowhere else in Canada is drinking water a federal responsibility; the City of Calgary for example makes their own drinking water as do all other cities and towns and water co-ops. Some private individuals have their own wells.)

But “giving them the land”? The conversation makes about as much sense as slavery reparations.

We should see the whole conversation for what it is. The natives don’t really have any use for the “land” that they don’t already have in the modern world. The can already hunt and fish on great tracts of land. They can buy land and businesses just like anyone else and many of them do. What the “stolen land” folks really want is more money. That’s all. They don’t want to own and operate the Saddledome, they just want a cut of the ticket sales. But we already pay them every year, as per the treaties and in fact way beyond the government’s obligations. The only point up for contention is whether the amount is appropriate or more should be done.

#159 Immigrant man on 10.04.21 at 2:30 pm

Do no write-off Alberta just yet.
———-
Of course oil isn’t dead, of course AB will bounce back. Unless team “Socks and Jag” have their way.

#160 Faron on 10.04.21 at 2:33 pm

#149 Sail Away on 10.04.21 at 12:28 pm
#144 Faron on 10.04.21 at 12:00 pm

Ah, you couldn’t help yourself, could you? Benefits of teepee time wearing off? I know that feeling.

Anyhow, useful analogue so, no Mr. Awash. Using your actions as an example doesn’t “bring you into it” any more than you using Bible quotes brings The Bible “into it”. Sail Away’s ego brought Sail Away into it just now. You know, personal choice? Self control?

Regardless, looks like ImGonnaBeSick has jumped the shark and is leaning on “it was jussa joke, honest.” I mean, yeah, the internet is largely a joke, but malice is malice.

“I hadn’t said anything about Covid or climate change.. ??”

Uh, yes you have, not in this exchange, but previously. As I said, when I googled the archives over scrambled eggs the other morning I saw some nice COVID takes from you from the early days. More recently nattering about 1.8% of emissions etc. That? That was a self-own. nicely done.

#161 Faron on 10.04.21 at 2:43 pm

#139 Penny Henny on 10.04.21 at 11:26 am

Stick to the sidelines making pot shots as seems to be your wheelhouse. You are irrelevant. Sorry.

#142 ImGonnaBeSick on 10.04.21 at 11:47 am

“At 4am in the morning”

1 AM genius. I don’t need to defend anything but I’ll clue you in here. Up late waiting for some caulking to dry so I could shove the dishwasher back in place and make the kitchen less of a hell-hole for my fiance when she woke up today. It was a sacrifice so I could enjoy an evening with her before polishing up my projects for the weekend. Is that okay with you? I’ll be sure to run my schedule past your micromanaging arse next time I choose to do anything though.

#162 SoggyShorts on 10.04.21 at 2:52 pm

Woke up this morning…
SoggyShorts, seriously, I enjoy your logic that Natives continue to have their rights violated because we should be taking it upon our selves to undo wrongs beyond the wrong done to Natives, as if it is our domain to do so.
*****************
Not even remotely what I posted.

Very simply: We can’t give the land back unless we know who we should give it to.

E.G. Handing Manitoba over to the Sioux tribe, if it is rightfully the Blackfoot’s land, wouldn’t be justice, right?
So, how can we figure out which parcel of land belongs to whom?

#163 Sara on 10.04.21 at 3:04 pm

#140 zxcvbnm on 10.04.21 at 11:35 am
I can tell that Faron’s and Sara’s paycheques are public money.
=============

No government pay cheques for me. Never has been and never will be.

#164 Down with BLACK FACE on 10.04.21 at 3:05 pm

DELETED

#165 Sara on 10.04.21 at 3:12 pm

@ zxcvbnm

If your criteria for whose pay cheques are public money is ” time posting here”, there are plenty of others who spend more time here than I do.

#166 IHCTD9 on 10.04.21 at 3:36 pm

#153 Michael in-north-york on 10.04.21 at 12:48 pm
#143 IHCTD9 on 10.04.21 at 12:00 pm

“He was hoping the kids would get cheaper as they got older LOL! He better have ~350K saved up in 14 years if he wants his kids to get a worthwhile education.”
===

That depends on the individual circumstances, but for many families – yes, school-aged kids are cheaper than preschoolers. Public schools are free, daycares and kindergartens are not free and are quite expensive.

And for the post-secondary, having TFSAs or other funds certainly makes the life easier, but as a last resort, they can get student loans.
___

True – but in our case, uni support FAR exceeds anything we’ve had to cover up till now. Not even close. It’s a decent 5 figure bill, per head, per year. Don’t think IT-Dude will find it much different if his kids manage to save up a decent pile before they go (my eldest saved and got 5K from OSAP).

IT-Dude won’t be sending his kids to any daycare – so his reality WRT cost will essentially be the same as mine.

#167 SoggyShorts on 10.04.21 at 3:41 pm

#164 Down with BLACK FACE on 10.04.21 at 3:05 pm
DELETED

Did everyone else also assume that this deleted post was about Trudeau?
That’s not great…

Posts are not deleted for choice of topic, but offensive content. – Garth

#168 Triplenet on 10.04.21 at 3:47 pm

Real property ownership in Canada.
Fee Simple Title (ownership)

Google:
Bundle of Rights (theory)

#169 kommykim on 10.04.21 at 3:57 pm

RE: #17 Ustabe on 10.03.21 at 12:30 pm
For a long time I’ve wanted to address the pejorative manner that “Bank of Mom” is used on this blog.
If you have it to give why not give?

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

Because it teaches dependency and delays/wrecks parental retirement which tightens the job market because the parents end up working longer.
Ultimately if the majority do it: By stoking demand, it also drives up RE prices which makes it even more unaffordable.

#170 Dragonfly 58 on 10.04.21 at 4:04 pm

Despite Greta’s bla bla bla remark I can’t really see what the more radical Climate change folks actually expect to happen. Virtually every aspect of human activity uses fossil fuels. Renewables can at best replace a fraction of that.
I watched the mini series , A year to change the world. I think that as Greta reviewed the options, even she was starting to see the stark immensity of actually controlling and eventually reducing carbon emissions. When the scientist pointed out that even planting trees takes many years before a net reduction in carbon is realized I think that even Greta was starting to get a bit of a feeling of hopelessness. Same as the miniscule results of the carbon capture , huge machine in Europe.
As I see it the problem is simply too many people , and sorry Garth that includes Canada. If we continue to grow worldwide populations it’s just a matter of time before true limits to survival are reached. Endless growth will indeed have a very definite end. And we as a species are not going to like what happens at that end point.

#171 Ustabe on 10.04.21 at 4:29 pm

#169 kommykim on 10.04.21 at 3:57 pm

RE: #17 Ustabe on 10.03.21 at 12:30 pm
For a long time I’ve wanted to address the pejorative manner that “Bank of Mom” is used on this blog.
If you have it to give why not give? ====================================
Because it teaches dependency and delays/wrecks parental retirement which tightens the job market because the parents end up working longer.
Ultimately if the majority do it: By stoking demand, it also drives up RE prices which makes it even more unaffordable.

I stopped working around 55, my wife sold her practice and retired at 60. Since then, between the two of us, we have given more to charity yearly than we gave our kids once.

So, certainly no delay or wrecking of our retirement. As to the kids dependency…I guess I raised mine different that you yours. You’d have to beat my guys over the shins with lengths of rebar to get them to ask us for anything.

Did you miss the part where they have turned their houses into profitable cash flow positive homes?

Did you miss the part where I said if you have it to give, why not? Apparently you do not and are replying to something in your head.

Unaffordable to who? Or did you mean too expensive for you? My guys provide safe, warm, cost effective housing for three families and 2 singles. Plus themselves.

I guess its not just the lefties who are comfortable telling others how they should conduct themselves and live.

#172 Barb on 10.04.21 at 5:01 pm

Looks as though George is thinking that Jesse is the nicest house-sitter he’s ever had.

Sweet looking dog.
A marvelous breed.

#173 Drinking on 10.04.21 at 6:56 pm

#127 Phylis

Thanks Phylis, much appreciated, every little bit helps!

#174 Jenna on 10.05.21 at 9:22 am

Liking those interest rates now Canadians. Now get what you deserve, a sky high housing, real estate market and high cost of living, inflation. Study some simple economics and know how borrowing and interest rates impacts everything in your life and lives of others in society. You took the bait.

#175 Immigrant man on 10.05.21 at 9:50 am

The biggest advocates of WFH remain women and people under 35.
————————
Not sure what the <35yo think, but I have a theory about why women prefer the WFH. I think it has to do with the kids/daycare/school. Now, before you stone me, I am not implying that "it's the woman's job", just observing who drops off the kids at school/day care/etc. It's mostly moms. So anyways, if WFH is a thing now – more women can participate in the workforce! That's a good thing, for those women, for their families, and in general for the economy.

Prior to covid our large organization did not have an option to do WFH. It was very rare, the vpn connection sucked and very few people other than the management had laptops. Fast forward to now, to get files off the server is not a problem anymore, everyone has a laptop and people who work with the computer most of the time anyways can just do it from home. Gone is the stigma that WFH = taking the day off. That's a lot of opportunity for women who couldn't do regular work hours due to parental obligations. And again, I am not saying "it's the woman's job", just in a scenario where the dad earns more money a family often decided for mom to do part-time or no work, rather than the dad.

#176 Barry on 10.05.21 at 12:03 pm

My cousin lucked out I guess somewhat on the job and marriage front. He married just 5 years ago and his wife and himself both have a mid size accounting, bookeeping, payroll business. They are in Sudbury never bought a house there but pay a modest $1,275 a month for an average size place.

Since there business is doing well, they are very smart knowing how much rent rises so they are saving $80,000 a year in RRSPs, TFSA’s, equities, bonds in their non-registered. They reinvest all their RRSP income tax refunds on top of their $80,000 annual savings. They have even surprised me and have now $445,000. There goal is $3 million in total net worth by 2035.

#177 catralph on 10.05.21 at 6:32 pm

#104 The Woosh

Or after the legislation is struck down he will say I tried to help all you under 40’s to buy a house but the courts won’t let me. He is off the hook for his promise, the courts get blamed and the government saves a bundle.