The oozing

A hundred days ago virtually every house hitting MLS in the country’s biggest market was gobbled up. In a day or two. And while this is still largely true in the Big Smoke, things have definitely chilled in Armpit, Bunnypatch and the indentured cul-de-sacs between urbanity and the bears.

Re/Max knows this. It was inevitable. We told you as much. The end of the pandemic, the reopening of workplaces, the 80%+ vax rate, the resumption of travel, the lifting of restrictions on retail and Ricky Martin’s concert downtown last night – all pointed to the inevitable. The urban flight and wild price inflation of the boonies during Covid had to eventually crash. And here we are. On exactly that path.

So, yeah. All the street realtors in 905, 705 and 519 get it. But the humping and pumping from head office continues. On the Friday of the long weekend, it reached a crescendo of desperation in the pursuit of house-lusty victims. If you every needed evidence corporate real estate marketers need to be spanked, regulated and occasionally assaulted with a wad of moist multiple offers, well, here she be.

The Re/Max Fall 2021 Housing Market Outlook Report (aka The FOMO Times) is breathtaking in its forecasts. “Young families are expected to continue driving demand in the Toronto housing market, with first-time and trade-up buyers active in the region,” it says.

“The average price in the Toronto housing market is expected to increase by 7% by the end of 2021.”

Whoa. Hold on here. It’s October and there are but 80-odd days left in 2021. So Re/Max is telling us there’ll be a further 7% price escalation in the remaining 23% of the year, for an annualized gain of almost 50%. Seriously? Moreover, that would add almost $80,000 to the price of an average GTA property, and come atop the 18% jump already experienced. This, despite declining sales, increasing fixed-term mortgage rates and an easing the pandemic which helped create the mess?

But wait. It gets worse.

Looking at the bigger picture, Ontario real estate has seen some of the highest single-detached price gains in the country, with 13 out of 16 Ontario housing markets examined in the report seeing growth between 20% and 35.5% year-over-year. The estimated price outlook for the remainder of the year ranges from a 2% price decrease in North Bay, to increases across the other regions ranging between 2% and 15%.

Yikes. Price hikes of up to 15% more in the next 2.5 months alone? In the sticks? How can this possibly be a responsible public document when the market in many places is cooling fast? Does Re/Max not have an ethical filter for its media releases? Or even a smell test? This is just as credible as that infamous claim days ago by Royal LePage that 91% of the time owning is cheaper than renting, supported by the flawed McReport of a guy largely employed by the mortgage community. The sleazy oozing never stops.

By the way, Re/Max also says prices of houses across the nation will be 5% higher than today by the end of December. That’s a 20% annualized boost. Above current historic levels. And this statement from company VP is rich: “We must continue to educate Canadians from a practical, real world, point of view. What is affecting the Canadian housing market right now? Low Interest rates, economic stimulus, higher home-buying budgets, a higher savings rate, homeowners too scared to sell, and not enough new construction. These factors have created current market conditions.”

Actually real estate inflates because of demand. And while low rates, for example, have augmented that, it is emotion driving the bus. Folks do irrational things like jumping into a blind auction, using 20x leverage or over-bidding on an asset that’s never cost more, because they’re emotional. Covetous of owning a home. Greedy to get something which is going up. Fearful of missing out. Terrified of having to pay more later. Scared of not being able to afford it. Worried what their mom will think.

This is why the Re/Max and LePage messages are crafted as they are. They fuel greed. They stoke fear. Nowhere are they concerned with people having balanced lives, buying things they can truly afford or keeping debt contained. And now, sadly, their political allies in Ottawa are about to raise the debt ceiling on insured loans and hand them a new house-buying tax shelter.

If real estate execs were regulated financial dudes, they’d be finished. Nowhere is a realtor required to assess a client’s suitability to make a purchase, or sustain a borrowing. Nor are their marketing arms held to any standard of accountability or truthiness. This helps make the world a more insecure place. Pity.

About the picture: “First the MSU: Charter member of the GF Fan Club having read (?) every blog since it started oh-so-many-years-ago.  I have benefited from the free info/wisdom/guidance over the years (with mostly prudent avoidance of the rabble in the comment section),” writes Lloyd. “Now the dog:  Ziggy is our much-loved mini Australian Labradoodle.  It’s almost impossible to go for a short walk with her as we are stopped constantly by people (“what kind of dog is that?”  “How old is she?” “How big will she get?” “What’s her name?”).  Here on Vancouver Island she is forest bathing at a park near our home. Thanks for your work over the years.”

109 comments ↓

#1 X on 10.08.21 at 2:00 pm

The simplest thing the gov’t could do to settle the RE market could be to regulate what the CREA and invested RE agencies can and cannot release in regards to misleading people. Certainly wouldn’t cost the gov’t much at all to crack down on that.

#2 Rook on 10.08.21 at 2:07 pm

If you owe the bank $1,000, you have a problem. If you owe the bank 1,000,000 the bank has a problem.” We’ve all heard this, yes?

With Canadians owing, is it 2.1 trillion in debt/mortages (?) I’m starting to wonder if your advice to keep debt contained is a sucker’s bet. What’s the rationale behind being a prudent saver, and staying out of debt, when it’s almost a certainty the government will bail you out (at the savers’ expense, natch) if enough get into trouble?

I’m no longer sure that putting it all on double-zero, levering yourself to the max, getting the most dirt you can afford (and then some), and hoping the gov will bail you out if you get into trouble isn’t the smart play.

#3 crowdedelevatorfartz on 10.08.21 at 2:12 pm

It seems as if there a ton of Labradoodles out there……

#4 Soviet Capitalist on 10.08.21 at 2:12 pm

Garth is correct, but since we now live a no-consequences reality, the prices may go up more than 7%.
I am still seeing multi-million houses in my area being sold within weeks.
Yes, Garth is right, there are many people speculating with crazy leverage, but they are doing it consciously, knowing that it will be the taxpayers and the savers who will have to pay in case their speculations don’t play out as expected. I guess that is only fair.

#5 Question on 10.08.21 at 2:14 pm

Question for you Garth:

In terms of the GTA & Ontario, can you lay out what you consider the boonies? The sticks? Does urbanity end with 416 exclusively?

I would like this info for context on your RE posts

#6 Rainman on 10.08.21 at 2:19 pm

I sense frustration Garth? don’t worry, RE will come down at some point and the market will dictate price. It always does. It’s not different this time. :)

#7 TurnerNation on 10.08.21 at 2:20 pm

— On the Economic and Social Shutdowns. Alllmost back to normal guys!! Note there are no goalposts , no re-opening plans. This is final in Kanada.

.New Brunswick implements ‘circuit breaker’ measures heading into Thanksgiving weekend (atlantic.ctvnews.ca)



https://www.vancouverisawesome.com/local-news/bc-hospital-occupancy-remains-far-below-pre-pandemic-times-4467334
“B.C. hospital occupancy remains far below pre-pandemic times
77.1% of B.C. hospitals beds are filled. Pre-pandemic, occupancy exceeded 100%.
Sep 28, 2021 4:00 PM By: Glen Korstrom”

— From **2017***. The government Does. Not. Care. Get over the pearl clutching about hospital capacity. It’s all a joke to them.

https://www.bclocalnews.com/news/b-c-hospital-system-has-been-operating-over-capacity-for-five-years/
“B.C. hospital system has been operating over capacity for five years
Statistics obtained by The News show system has been operating over 100% capacity since 2012
TYLER OLSEN May. 24, 2017 10:00 a.m.”
—-
—-
For DOLCE. They want the German vax to rule the world. Unsurprisingly to me.

.Iceland Joins Nordic Peers in Halting Moderna (MRNA) Covid …https://www.bloomberg.com › news › articles › iceland-…
44 minutes ago — Iceland is joining its Nordic peers in halting inoculations with Moderna Inc.’s Spikevax shot on concern over side effects.

#8 gfd on 10.08.21 at 2:21 pm

Financial Markets Monthly – October 2021
RBC Economics

September saw a number of central banks continue to plot an exit from ultra-accommodative policies put in place during the pandemic. The Fed guided markets toward an imminent tapering announcement, and laid out a relatively abbreviated timeline to wind down net QE purchases by mid-2022. The FOMC is now evenly split on raising rates next year (we think it will) and anticipates gradual but steady rate increases in the following years. The BoE looks set to lead liftoff in the G7 and even opened the door to rate hikes before year-end, although we think that isn’t likely until the second quarter of 2022. Not to be outdone, the RBNZ raised rates in October and looks set do so again at upcoming meetings. The BoC could shift to reinvestment-only as soon as its next meeting while the RBA slowed but extended its QE purchases in September. The ECB will evaluate the future of its pandemic-era asset purchases later this year.

https://thoughtleadership.rbc.com/central-banks-shuffling-toward-the-exit/

#9 Editrix on 10.08.21 at 2:23 pm

Even people who don’t own houses appear to be stretched to the limit. My rental bungalow is available and in the last 3 weeks there have been three offers from potential tenants. All are hiding information. The most recent couple are in their early 30s with a baby and are just returning from an Asian country where they were working. They aren’t providing paystubs. One of the couple plans on staying home with the kid. The other is starting a job in Toronto for a European company which is located in a suburban house. Their financial statement shows they have less than $25K between them.

Needless to say, they were rejected. You have to be so careful because the Ontario Landlord and Tenant Act is so skewed in the favour of the tenant if there is a default. Once they move in, it’s hell to get them out.

#10 Lies and propaganda on 10.08.21 at 2:30 pm

DELETED

#11 Linda on 10.08.21 at 2:33 pm

“And now, sadly, their political allies in Ottawa are about to raise the debt ceiling on insured loans and hand them a new house-buying tax shelter.”

Given that the feds are about to boost the RE gasbag, would not the measures quoted from today’s blog support the ebullient RE forecast? Just when are the promised measures supposed to hit the market?

As for the blog dog photo of the day, can see why Ziggy’s people get so much feedback. Super cute to say the least.

#12 Dango on 10.08.21 at 2:35 pm

“Nowhere is a realtor required to assess a client’s suitability to make a purchase, or sustain a borrowing.”

The average realtor doesn’t have the intellectual capacity for such things.

#13 IHCTD9 on 10.08.21 at 2:35 pm

#369 KLNR on 10.08.21 at 1:37 pm
@#350 IHCTD9 on 10.08.21 at 11:57 am

Here’s a good RE story for you dogs. Dude at work has a neighbour a few doors down living in the county. 30 acres of field, 20 year old bungalow. Nothing too special. Guy bought 6 years ago for 425K, just sold it for 1.8 Million.

I think things are starting to fall apart.

out by my country abode a standard 70s ranch bungalow on 3/4 acre lot gets a cool mil these days.
If you’re lucky it comes with a heated shop.
30 acres would be multi-millions

strange days indeed.
______

Strange and scary – it’s seemingly happened overnight. GTA money pouring in because it’s even more strange and scary over there.

PEC gets a pile for anything, so that area is a bubble within a bubble – but it’s all in the buyers heads. The whole area was home to some pretty poor folks (and still is) before Toronto took an interest in Picton. I know a guy who’s ancient PEC house actually had a dirt floor (in the 80’s). Might only get 900K for that one today…

Rates need to go up – this is just getting stupid. From what I can see – the bubble is funding the bubble via move up buyers right now. If a regular couple walks and and buys – they bought 10+ years ago and got a free ride up. Everyone else is getting supplemental funding from family, or is a multi-person team effort.

#14 april on 10.08.21 at 2:36 pm

According to Ross Kay -he has the numbers, and if we go to the realtor’s own site we can see for ourselves. The chickens are about to come home to roost re realtor lies, and deception which has been going on for yrs. Some poor fools are still paying highly inflated prices because they believe the lying realtor.
House prices have been in decline since last May approx.

#15 Dirty Dan on 10.08.21 at 2:45 pm

DELETED. Discussion over. – Garth

#16 SoggyShorts on 10.08.21 at 2:46 pm

#264 kc on 10.07.21 at 10:44 pm
106 Roc on 10.07.21 at 4:08 pm

I just refuse to get the *** … when BC placed in that stupid mask horsecrap I was sitting in my favourite watering hole and said to my fav server … well this is the last time you will see me

************
The dumbest anti-mask post I’ve seen yet.
You know that you only had to wear a mask from the door to your stool, right? 5 maybe 6 paces?
Oh, the humanity!

#17 Dolce Vita on 10.08.21 at 2:47 pm

“Employment regains pre-pandemic level”

— StatCan Labour Force Survey, September 2021

Employment up 157,000 (+0.8%)
Unemployment rate 6.9% (-0.2%)

WFH unchanged.
Wages up 4.6% over two years

Pretty much good news all around:

https://www150.statcan.gc.ca/n1/daily-quotidien/211008/dq211008a-eng.htm?HPA=1

—————-

#7 TurnerNation

“For DOLCE. They want the German vax to rule the world. Unsurprisingly to me.”

– Govs US, Deutschland into Pfizer for a lot of start-up cash. ‘Gotta get that money back somehow.

#18 Dolce Vita on 10.08.21 at 2:50 pm

Abject story today Garth about how only the wealthy will see these RE gains.

Yet again, the money funnels up to the few rich.

Canada will soon become a nation of have and have nots when it comes to RE.

Blame:

Look in the mirror and not afar.

#19 Sail Away on 10.08.21 at 2:53 pm

A Squamish/Whistler realtor friend has owned her business for around 35 years and is well-entrenched with the high-end market. Earnings over the last year were absolutely off the charts.

Bafflingly, she still drives an Audi instead of a Tesla.

#20 Jim on 10.08.21 at 2:53 pm

Those you can’t do Teach, Those you can’t teach sell real estate!

#21 Classical Liberal Millennial on 10.08.21 at 2:53 pm

Canada. A great place to live if you want $1M shacks, long winters, high taxes, high cost of living, and mediocre health care that citizens believe is their defining national identity. Thankful!

#22 Trojan House on 10.08.21 at 2:59 pm

#368 Faron on 10.08.21 at 1:37 pm

Yes, you are correct. My bad for making it simple for Jaguar to understand, but yeah, they look at the dominant strains circulating at that time and then pretty much “guess” they will be the same strains circulating for the vaccine when it is made available.

#23 Penny Henny on 10.08.21 at 2:59 pm

Here are your September real estate numbers for Niagara Region Garth.

Sept 2021 month over month change

Sales August 740- Sept 707 down 4.5%
HPI benchmark price 657,400- 665,600 up 1.2%
Days on market 20- 22 up 10%
New listings 872- 994 up 14%

Things are definitely slowing down.

Year over year price is crazy though, up 33.8%.

497,500- 665,600

I wonder what Ross Kay would say? Hey April?

#24 Penny Henny on 10.08.21 at 3:00 pm

forgot the link

https://www.niagararealtor.ca/public/Stats/September%202021%20Media%20Release%20and%20Stats.pdf

#25 Nonplused on 10.08.21 at 3:04 pm

A guy came by today to do some work on my house. Been in Canada 10 years. Would like to buy a house. 45. So Trudeau’s new savings plan no good for him.

He also seemed to think he needed a 20% down payment but I am not so sure about that. Do you need to be a citizen to qualify for CMHC? He’s on the path and is legally entitled to work here but I got the impression citizenship hasn’t gone through yet.

#26 A01 on 10.08.21 at 3:08 pm

Garth tell me when the cottage country prices will decrease. Won’t secondary properties be the first to decline?

#27 Flop… on 10.08.21 at 3:09 pm

Things have been dark on here lately, let’s try a joke.

Knock, knock!

Who’s there?

Tiff!

Tiff Who?

TIff Macklem, you know, the current Governor Of The Bank Of Canada, you know, the guy that is in charge of the cost of money.

Apparently I have 5 pre-sale condos on order.

What if this is not a joke after all…

M47BC

#28 KLNR on 10.08.21 at 3:09 pm

@#14 april on 10.08.21 at 2:36 pm
According to Ross Kay -he has the numbers, and if we go to the realtor’s own site we can see for ourselves. The chickens are about to come home to roost re realtor lies, and deception which has been going on for yrs. Some poor fools are still paying highly inflated prices because they believe the lying realtor.

if you haven’t done your due diligence and are being duped by a realtor, then thats on you.
Applies to all things in life.

#29 Nonplused on 10.08.21 at 3:11 pm

#19 Sail Away on 10.08.21 at 2:53 pm
A Squamish/Whistler realtor friend has owned her business for around 35 years and is well-entrenched with the high-end market. Earnings over the last year were absolutely off the charts.

Bafflingly, she still drives an Audi instead of a Tesla.

————————————-

Real estate agents can’t afford to miss showings due to a dead battery.

Also there is that old contractor’s maxim: Drive a nice truck so it looks like you are successful. But not too nice such that it looks like you are ripping people off.

#30 red falcon on 10.08.21 at 3:17 pm

If CHMC ever stops insuring the higher risk mortgages, it’ll be game over for the likes of FOMO infested shenanigan’s in the mortgage industry.

Realters will drop like flies and the prices will finally go down as it were meant to be.

you can’t play and not have risk. That is the whole point of the game.

#31 Phylis on 10.08.21 at 3:23 pm

Now let’s see if City TV parrots the report. Any bets?

#32 AM in MN on 10.08.21 at 3:32 pm

Garth,

A carry over from yesterday here, but it gets to the same issue, namely fraud at the highest levels that are fed to the public by the media.

It never ends well when a society has no respect for truth.

The same will be for the coming lawsuits for wrongful dismissal for employees who have natural immunity. The government will have to prove the science in court against some well researched plaintiffs. What we need to hope for is for truth to prevail.

When truth does not prevail, we go the way of the Soviet Union.

Getting back to the hockey stick global warming “science”;

#365 Faron on 10.08.21 at 1:32 pm
#279 AM in MN on 10.07.21 at 11:59 pm

“I used the Mann case to point out that when it gets to Court the science matters, in intricate detail, not political generalizations.”

Yet the decision doesn’t, at all, go into the detail and the case was lost because it was ignored. It has absolutely no bearing on the science and makes no statement about it.

———————————————–

The operative word here is LOSE. When you lose a court case and the judge awards damages to the other side, it means you lost!

Again, Mann stalled for 8 years but always refused to submit any science to be examined. That is why it didn’t get examined and why he LOST.

(BTW, he would have been savaged if he had tried to defend his “science”)

The fact that he shows contempt for the court that HE filed suit in, due to him not being a Canadian citizen yet making use of Canadian courts, and great cost to the Canadian taxpayer over 8 years, speaks to his low character, and quite frankly those in the “global warming” community that keep company with him.

The broad acceptance of politics over truth, be it in science, real estate, currency markets…whatever, never ends well.

People like me refuse to accept fraud, that’s why I’m not an employee of anybody. I do business with people of good character, having learned the hard way over the years what happens when you don’t.

#33 The joy of steerage on 10.08.21 at 3:37 pm

#20 Jim on 10.08.21 at 2:53 pm

Those you can’t do Teach, Those you can’t teach sell real estate!

I thought they became PM of Canada…..

#34 Felix on 10.08.21 at 3:44 pm

Happy Feline Friday!

Want to have something to give thanks for this weekend?

Lose your dog. Get a cat.

#35 Former Fool on 10.08.21 at 3:46 pm

Calgary R/E is going to explode with commodities just starting their bull run. Cheapest major city in Canada for houses, and there are calls to smash previous oil records. Interest rate hikes – if they even happen – won’t help as the hikes will be modest. We’ll be lucky if we get to 2.5%.

Central banks have been completely irresponsible, punishing those who have been responsible, fueling inflation, and rewarding the debtors. The Fed needs a Paul Volcker in charge. Powell has been reckless. This is a mess.

Those of us who didn’t take on cheap debt pre-covid are going to be left holding the bag via the inflation tax.

#36 greyhound on 10.08.21 at 3:53 pm

That’s a 20% annualized boost.
South of the border folks are catching up — real estate prices up 45% in the past year in Austin. A $500K house last year now $725K and rising. Long lines at UK petrol stations, shortages increasing; pretty soon bell-bottom pants and capital controls? Maybe the 70s are coming back…

#37 Faron on 10.08.21 at 3:57 pm

#32 AM in MN on 10.08.21 at 3:32 pm

When truth does not prevail, we go the way of the Soviet Union.

That is correct. Unfortunately, your perception of truth is skewed by a heavy bias that you latched onto from god knows where. I’m guessing you are somehow attached to O+G?

Who is being less truthful? A scientist who makes all of their records available here:

https://www.ncei.noaa.gov/products/paleoclimatology

and who has described their methods in detail in papers and to the public so that the analysis can be replicated or a half-baked professor who hasn’t published much, has little to training in the science, and is taking pot shots on the sidelines? Furthermore, Mann’s work has been backed up by numerous independent researchers. Some of whom don’t even like the guy based on my own personal insights.

You are actually wrong about the Soviet Russia comparison. The better analogue is to the Salem witch trials. You are on an inexcusably malinformed witch hunt.

w/re losing the case: READ. THE. DECISION. The science was never on the bench. By analogy, if I lose at Scrabble, it doesn’t mean my life’s work is wrong.

Finally, what is it always the fricking engineers who are the most dense? They seem to have the cocksure attitudes about all kinds of crap they have no training in. Jesus.

#38 That guy on 10.08.21 at 4:01 pm

My inner jerk is telling me something: time to become a realtor! Less oversight than other stuff like financial products. A product that continues to sell itself in the face of amazing barriers.

Why did I take so long to recognize this? Surely some of the millionaire blog dogs got in on this racket!

#39 Sail Away on 10.08.21 at 4:05 pm

#29 Nonplused on 10.08.21 at 3:11 pm
#19 Sail Away on 10.08.21 at 2:53 pm

A Squamish/Whistler realtor friend has owned her business for around 35 years and is well-entrenched with the high-end market. Earnings over the last year were absolutely off the charts.

Bafflingly, she still drives an Audi instead of a Tesla.

——–

Real estate agents can’t afford to miss showings due to a dead battery.

Also there is that old contractor’s maxim: Drive a nice truck so it looks like you are successful. But not too nice such that it looks like you are ripping people off.

——–

If Ponzie goes into real estate, he’ll have to arrange all the showings around the bus schedule.

#40 Leftover on 10.08.21 at 4:11 pm

Meanwhile, this from the turnip farmers in Kelowna:

https://www.castanet.net/news/Kelowna/347712/Central-Okanagan-benchmark-price-drops-for-first-time-in-13-months

House prices didn’t just drop in September, they, “plummeted”.

#41 bobo on 10.08.21 at 4:13 pm

Realtors work for sellers only, everything out of their mouth is for sellers. They have no obligation to tell the truth, think about it realtors makes up its stats to support sellers, they are not responsible to answer to anybody and are all self serving. Average price is all BS because it is just a mix of sales at the moment not real, and taken from whatever point in time they choose. If more move up buyers move then obviously the average price is higher, but its certainly not an indication of the average price increase. Totally unregulated industry out of control, that’s why so many people like it and their is money to be made, but don’t believe a word realtors tell you. Learn for yourself or listen to Ross Kay for another point of view. All said from someone who made a living in real-estate.

#42 Faron on 10.08.21 at 4:14 pm

#29 Nonplused on 10.08.21 at 3:11 pm

Real estate agents can’t afford to miss showings due to a dead battery.

No, an electric car is perfect for that kind of local driving with ability for regen coming down the hills. The real problem with Teslas is that they tend to have wheels fall off or catch on fire or rear-end police cars and emerg vehicles while on L2 diver assist (AKA “full sell driving”) or the trifecta of all of the above.

Our realtor drives a Leaf. We used to snicker/marvel/throw-up-in-our-mouths-a-little at all the Tesla driving agents. A Tesla at the showing typically meant some tool buyers willing to bully bid for the place. No thanks.

#43 Faron on 10.08.21 at 4:22 pm

#32 AM in MN on 10.08.21 at 3:32 pm

“refused to submit any science to be examined.”

What does that even mean? Why is it Mann’s job to point someone to what was already a fully open process with free data? That is ever more the case today BTW. Instead of wasting your time with me, why don’t you take your big brain elsewhere and replicate his results?

#44 wallflower on 10.08.21 at 4:22 pm

The most gobsmacking of all … the fees. The agency fees.
It is a despicable industry.

#45 kc on 10.08.21 at 4:22 pm

16 SoggyShorts on 10.08.21 at 2:46 pm

#264 kc on 10.07.21 at 10:44 pm
106 Roc on 10.07.21 at 4:08 pm

I just refuse to get the *** … when BC placed in that stupid mask horsecrap I was sitting in my favourite watering hole and said to my fav server … well this is the last time you will see me
************
The dumbest anti-mask post I’ve seen yet.
You know that you only had to wear a mask from the door to your stool, right? 5 maybe 6 paces?
Oh, the humanity!

******

I don’t wear them period. all stores can go broke… I have never been asked to put one on in the grocery stores. and amazon delivers….

Screw them all….

#46 Another Deckchair on 10.08.21 at 4:29 pm

@37 Faron

Way back when, I tried to include a PhD in human factors to help us engineers and scientists get output usable by normal people.

A mixture of skill sets was necessary IMHO but unfortunately not by management who looked at “output” differently. (Ie salary dollars, not usability)

A typical hard headed narrow minded “I know best so listen to me” attitude that many people have, including many on this blog (thinking about the proud anti Vaxers over the last few days)

#47 wallflower on 10.08.21 at 4:34 pm

#9 Editrix on 10.08.21 at 2:23 pm
The black market, unreported gig income economy is enormous – it will be interesting to see how these people get anything in future, either rental or owned when they have ~zilch reported income, etc.

#48 Paul on 10.08.21 at 4:48 pm

Realtors do not lend money for mortgages that’s why the buyers go to the bank for Pre- approval or have a condition on financing in their agreement. Buyers want to buy sellers want to sell banks want to lend!

Financial companies want to sell, investors want to invest, financial advisors have a fiduciary duty to protect their clients from blowing up. Try it sometime. – Garth

#49 Rachel on 10.08.21 at 4:56 pm

A friend at work was telling me that her bil and sil are going to sell their truck to be able to afford downpayment on a house, that is also getting financed with the owners. Seems so shady and I feel for people trying to get into this overinflated market.

#50 TurnerNation on 10.08.21 at 5:00 pm

Are we still banging pots and pans at 7pm daily?
…………..

https://www.hoyes.com/blog/whos-filing-bankruptcy-in-their-30s-and-why/
“So, who does file bankruptcy in their 30s? Based on our data, the average 30-something filing insolvency owes more than $55,000 in non-mortgage debt.

88% are in trouble with credit cards
41% turn to high-cost payday loans for cash
30% are still repaying student loans
42% have a secured car loan or lease
33% owe taxes to CRA|”

———-

———–
– For years I posted on here that our Rulers make 101 or 1001 new laws against us each year.
It’s daily, now. The beginning of the planned Social Credit Score?
Comrade Potty Mouth, step out of the line! No soup for you.

.Fines for breaking health orders including mistreating workers who are enforcing them will also be increased to $4,000 from $2,000. (edmontonsun.com)

#51 MD on 10.08.21 at 5:05 pm

Housing boom has just started again and soon average house price will go to 1.25 million thanks to CMHC.

#52 comrade on 10.08.21 at 5:22 pm

#37 Faron on 10.08.21 at 3:57 pm

Finally, what is it always the fricking engineers who are the most dense? They seem to have the cocksure attitudes about all kinds of crap they have no training in. Jesus

———–

Because we practice applied science, and don’t have luxury to live in dreamed up worlds of PhDs as we have to practice within the real life constraints.

please define Jesus, scientifically?

#53 Albertaguy in AB on 10.08.21 at 5:29 pm

Bought and sold my first house when i was 15 in the mid 70s in Regina SK for 10k and sold it for 15k after renting it out for 2 years and spending a few hundred buck for paint.

Lost 3k on a 1 br condo in Edmonton in 85, +50k on a 3br bung in Calgary in 90, +150k on a Palm Springs Condo in 2003, +300k on a 2 story in Victoria in 2005, +250k on a spec house in Calgary in 2009, +150k on a bung in Calgary 2012, +200k in 2021 on AZ seasonal home (going to claim that one as my PR) and now living in a 1200 sqft 1965 bung in Calgary bought for 380k in 2015 and anticipate will liekly sell for 750k+ in 10 years or so after putting in maybe 100k for kitchen, baths, exterior and landscaping improvements.

I do most of the reno/improvements myself so material costs reduce some of the gains, but labor is mostly mine and not worth anything.

After this one sells i will be 70+ and not interested in owning/renovating/maintaining and will gladly rent.

So i guess when you add it all up, RE has been a good investment overall especially if you are willing to put in some sweat equity – not for everybody.

I agree with #35 Former Fool that Calgary is due for a renaissance of sorts with continuing demand for Oil, Nat Gas and soon Hydrogen despite what the woke hope should happen.

#54 the Jaguar on 10.08.21 at 5:38 pm

Ziggy is adorable. I hope also that those pups with a lesser pedigree will never be overlooked as suitable companions.

The most interesting comment today on this blog (for me), comes from IHCTD9. A sensible guy.

“PEC gets a pile for anything, so that area is a bubble within a bubble – but it’s all in the buyers heads. The whole area was home to some pretty poor folks (and still is) before Toronto took an interest in Picton. ”

I am assuming PEC is short form for Prince Edward County, IHCTD9. But it could represent a lot of other smaller, rural areas of Ontario. Where once upon a time there was a little factory that made widgets of some sort. That comment about the area being home to “some pretty poor folks’….

How does that compute when the retirees and WFH folk show up along side of inflation and property value escalation. How is their lot in life improved? Any thoughts?

Garth, you are from Woodstock. It would be interesting to know your thoughts on how the people IHCTD9 refers to will be impacted by ‘rural gentrification’.

#55 Sail Away on 10.08.21 at 5:42 pm

#37 Faron on 10.08.21 at 3:57 pm

Finally, what is it always the fricking engineers who are the most dense? They seem to have the cocksure attitudes about all kinds of crap they have no training in. Jesus

——–

I personally majored in geology and weather forecasting but it was too tough, so had to fall back on engineering where we learned, among other things, to avoid ending sentences with prepositions.

Jesus weeps.

#56 Faron on 10.08.21 at 5:46 pm

#52 comrade on 10.08.21 at 5:22 pm
#37 Faron on 10.08.21 at 3:57 pm

Right, you engineers largely apply the scientific findings from Universities and R+D (I know this is a gross simplification). Science and innovation are creative pursuits and as such require imagination or “dreamed up worlds”. Engineering would be the last place one would want such things. Save it for the architects.

If engineers were the be all, innovation would lose out to refinement with maybe some empirical invention through T and E. Refinement is awesome. I love it. It makes for beautiful and more and more useful things (Apple is the ultimate refiner of tech as an example of nice things through engineering). But, refinement never pushes the envelope of knowledge.

Back to Mann. His hockey stick plot grew out of an innovative use of a meteorological analysis tool (EOFs) and an understanding of paleo-proxy records. My undergrad work in paleoclimate was during that time and there was all kinds of buzz long before you guys heard about him. True innovation by cross polinating fields. Was there error? Of course. But time has shown that his work held and holds up.

#57 IHCTD9 on 10.08.21 at 5:59 pm

#54 the Jaguar on 10.08.21 at 5:38 pm
Ziggy is adorable. I hope also that those pups with a lesser pedigree will never be overlooked as suitable companions.

The most interesting comment today on this blog (for me), comes from IHCTD9. A sensible guy.

“PEC gets a pile for anything, so that area is a bubble within a bubble – but it’s all in the buyers heads. The whole area was home to some pretty poor folks (and still is) before Toronto took an interest in Picton. ”

I am assuming PEC is short form for Prince Edward County, IHCTD9. But it could represent a lot of other smaller, rural areas of Ontario. Where once upon a time there was a little factory that made widgets of some sort. That comment about the area being home to “some pretty poor folks’….

How does that compute when the retirees and WFH folk show up along side of inflation and property value escalation. How is their lot in life improved? Any thoughts?

Garth, you are from Woodstock. It would be interesting to know your thoughts on how the people IHCTD9 refers to will be impacted by ‘rural gentrification’.

You are correct Jag, on PEC, “the county”. These poorer folks are banking huge on their properties. Many are still running farms part-time alongside a day job or two, and have a lot of land. It is an odd place to gentrify. Grape power I guess. Everyone wants to sever building lots.

It’s a one shot deal, but you don’t have to move very far to get a decent place for 6-700k, nor do you need a mansion after living your whole life in a simple manner.

IMHO, it’s a once in a lifetime bonanza for anyone who owns dirt out there. It’s providing options where not long ago, there were none. Of course, once they’re out – they’re never coming back. Farming is a strange thing, they don’t want to give up the lifestyle, or sell out – but I know what I’d be doing if I lived out there…

#58 Bankersorta on 10.08.21 at 6:03 pm

So here is a question on CHMC I’d be interested in knowing. I would suggest that other than the odd blip real estate has been on an upward projectory since Y2K. What is the $$ value of CMHC insurance premiums taken in against the actual payouts over that time. Remember CMHC only pays out to the FI on the differential loss between the original mortgage value and the final sale price…assume thats been peanuts over the past 2 decades perhaps excluding Alberta…. bet they are sitting on a pile of cash that can more than cover a 25% drop in prices today to cover those folks who bought in the last year and end up underwater……any idea Garth?

#59 Quintilian on 10.08.21 at 6:15 pm

“And now, sadly, their political allies in Ottawa are about to raise the debt ceiling on insured loans and hand them a new house-buying tax shelter.”

All three major parties promised to pump the bubble further.

#60 Bartman on 10.08.21 at 6:16 pm

Re Paul at #48 – Hey Garth, why do you think people can be trustworthy and ethical only when bound by law (which ethically I believe they already are)? Interesting that all financial advisors are above any self interests. There are a lot of good people in any business and of course some not so good. Please do not paint them all with the same brush.

The real estate industry deals with the largest investments people ever make, usually in an emotional fog. Regulation is thin and insufficient. Training is scant. Something is wrong. – Garth

#61 Mutt Face on 10.08.21 at 6:16 pm

Financial companies want to sell, investors want to invest, financial advisors have a fiduciary duty to protect their clients from blowing up. Try it sometime. – Garth

Realtors are sales people. It’s not their job to vet their client’s financial ability to pay that job is done at the bank.

#62 KLNR on 10.08.21 at 6:17 pm

@#45 kc on 10.08.21 at 4:22 pm
16 SoggyShorts on 10.08.21 at 2:46 pm

#264 kc on 10.07.21 at 10:44 pm
106 Roc on 10.07.21 at 4:08 pm

I just refuse to get the *** … when BC placed in that stupid mask horsecrap I was sitting in my favourite watering hole and said to my fav server … well this is the last time you will see me
************
The dumbest anti-mask post I’ve seen yet.
You know that you only had to wear a mask from the door to your stool, right? 5 maybe 6 paces?
Oh, the humanity!

******

I don’t wear them period. all stores can go broke… I have never been asked to put one on in the grocery stores. and amazon delivers….

Screw them all….

ya it’s all about you kc.
selfish prick.

#63 facts on 10.08.21 at 6:35 pm

DELETED

#64 Paul on 10.08.21 at 6:45 pm

#48 Paul on 10.08.21 at 4:48 pm
Realtors do not lend money for mortgages that’s why the buyers go to the bank for Pre- approval or have a condition on financing in their agreement. Buyers want to buy sellers want to sell banks want to lend!

Financial companies want to sell, investors want to invest, financial advisors have a fiduciary duty to protect their clients from blowing up. Try it sometime. – Garth
————————————————————————————————
I do almost everyday if you knew how many times I have tried to hold back buyers to buy within their means. Only to have them go off and buy through another agent and pay multiple thousands more then the houses I was showing them and complain I wasn’t listening to their needs.
So if the mortgage company and the bank of Mom says they can afford the property who am I to say different.

#65 KLNR on 10.08.21 at 6:52 pm

Anybody looking for a good job?

Ontario hospital fires 57 unvaccinated employees; says 98.5 per cent obeyed mandate

https://www.cp24.com/news/ontario-hospital-fires-57-unvaccinated-employees-says-98-5-per-cent-obeyed-mandate-1.5615340

#66 NOSTRADAMUS on 10.08.21 at 7:01 pm

“F.O.N.G.O.” STRATEGY.
We don’t need a Black Swan event to pop this real estate bubble, just a growing, collective realization that things are slowing down. This time around, my portfolio strategy is based on “F.O.N.G.O. Fear of not getting out (in time) or Fear of no good option. This might be a good option to think about it, rather than sleeping on it. For realtors the phones have stopped ringing. Soon they will be going to the mattresses.” Beware The Ides Of November At Your Peril.” I am on my throne and I will not step down. Amen Brother.

#67 crowdedelevatorfartz on 10.08.21 at 7:02 pm

@#376 Barb
“Our Blue Cross health plan issued a travel insurance offer:
“FREE coverage for COVID-19 when you’re fully vaccinated. Up to $10M at no additional cost.”
You know…the $10M it’ll cost non-vaxxed people when they are trying to recover from infection in another country ”

+++

Nah the non vaxx’ed people will die waiting for a hospital bed.
$1k for a cremation and ship the ashes home in a cardboard box…
Another Darwin Award winner bites the dust.
A win win for Blue Cross.

#68 Mississauga Mel on 10.08.21 at 7:04 pm

#54 the Jaguar

The poor people of sticksville Ontario will pay more for their homes than they would if Hogtown retirees and escapees weren’t bringing their GTA money or 1% financing with them…

#69 AM in MN on 10.08.21 at 7:07 pm

#43 Faron on 10.08.21 at 4:22 pm
#32 AM in MN on 10.08.21 at 3:32 pm

“refused to submit any science to be examined.”

What does that even mean? Why is it Mann’s job to point someone to what was already a fully open process with free data? That is ever more the case today BTW. Instead of wasting your time with me, why don’t you take your big brain elsewhere and replicate his results?

———————————————————-

Where did you go to Law School?

What it means is that if you sue someone, lets say for defaming your science, then that person has a right to mount a defense.

If they contend that say the underlying science behind the hockey stick graph is fraudulent, they have a right to ask that you submit the details of the disputed science, in order that it may be examined in an adversarial way.

When you refuse to submit the specific data in question….for 8 years, that’s what that means.

The Judge decides what is relevant to be required for submittal. He is also the one that has the right to rule against you and assign damages after you show contempt for the court that YOU solicited.

This is relevant to the natural immunity lawsuits that will be soon piling up. Since the employer took to the action to fire someone without compensation, based on some “science”, the burden will fall to them to prove this science in an adversarial setting in Court.

When you take an action, you are the one with the burden to prove.

Not wasting my time you per se (not worth it), but there are others who read this blog, including all of the engineers that you dissed.

Most senior engineers have dealt with a lot of contract law regarding things that need to be certified to be safe and/or reliable, such as say electric power systems.

Very technical and exacting if you’ve ever been involved in something where people got hurt or a lot of money got lost. That’s why the details matter to these people, it’s not about scientific conjecture or broad based political feelings.

#70 AK on 10.08.21 at 7:19 pm

AM in MN on 10.08.21 at 3:32 pm

A carry over from yesterday here, but it gets to the same issue…

The same will be for the coming lawsuits for wrongful dismissal for employees who have natural immunity.
“……………..
The reason Covid is called a novelle virus is that no one has natural immunity. Everyone exposed to Covid will get it. Some may not have symptoms or minimal. But there is no such thing as natural immunity to this virus. Unless, one already caught it. Makes me think that if one is not vaccinated and has not been exposed, there will be variants floating around in the years to come, (as this is here to stay, just like the flu) these people may get sick. If the variant is mutated and powerful, they may be quite sick.

#71 Do we have all the facts on 10.08.21 at 7:23 pm

78,000 public service jobs added in September, 2021.

What was the date of that unnecessary election again.

#72 Garth's Son Drake on 10.08.21 at 7:24 pm

So, basically become a Realtor?

Absolute class warfare on facebook with rental listings in the West.

I don’t blame all of the comments about landlords ripping people off given a 2-bedroom goes for around 2,500 per month, but it shows you how tough it is for younger generation.

Zero future for anyone in the West unless they get an inheritance / life line in the form of a house gifted.

#73 Habitt on 10.08.21 at 7:39 pm

Whatever Toronto. If you can live modestly and plant a garden buy food direct from the farmer,hunt and do a little fishing life is not so expensive. Buy a place in the real boonies and pay under 100k. Mind you little employment xept for those with hand skills. So quit gripping. It’s there right under your nose. Oh you wanna be important and rich! Don’t need it is what you gotta think. Your financial planner will want you to have a couple of mil to live comfortably. When you croak will it matter?

#74 Nonplused on 10.08.21 at 7:47 pm

#42 Faron on 10.08.21 at 4:14 pm
#29 Nonplused on 10.08.21 at 3:11 pm

Real estate agents can’t afford to miss showings due to a dead battery.

No, an electric car is perfect for that kind of local driving with ability for regen coming down the hills.

——————————————

I saw claimed evidence that Nikola faked its’ electric semi by building a mock up and rolling it down a hill, but I did not realize Tesla was doing that every single day. ;-)

#75 opee on 10.08.21 at 7:49 pm

The RE board is licensed by the government, the body that only they can change the issues constantly written here, me included.
Resolved, by allowing competition, on the same level as Realtor, there isn’t, that is the question. Let competition in is the answer in consumer choices, alternatives, write your MP, only they can initiate.

#76 willworkforpickles on 10.08.21 at 7:58 pm

People without any great amount of money should be avoiding the black hole curse of debt. Governments should do likewise. They aren’t and they won’t…not in this world of rampant disconnect from reality.
The US government should reign in further spending now and prepare for and have some means to mitigate the fallout of upcoming recessions rather than be left with zilch in their arsenal… for to meet the next downturn head on to do battle and so on. They won’t.
While Biden has control of the house and senate at least until Nov. 2022, he will continue to pull out all the stops in getting his 6 trillion dollars in spending bills passed as there is no better opportunity for this level of spending success other than by this condition.
….the writings on the wall…debt and future national economic health be damned…Let Us Spend!
…they will.

#77 Dr V on 10.08.21 at 7:59 pm

37 Faron

“Finally, what is it always the fricking engineers who are
the most dense? They seem to have the cocksure
attitudes about all kinds of crap they have no training in.”

Worked with many engineers over my career. The ones you describe were more typical of public sector engineers. Absolutely overstepped their bounds. That’s because, you know, they worked for some level of
government and were “in charge”.

Older engineers for large installations like pulp mills could be a little all-knowing as well.

There are some excellent ones in the private sector. The profit and liability motives can lead to them examining more options and getting more opinions. I always liked it when they asked questions. Sailo should be in this camp, though his strength may be business promotion.

BC has the PGA “Professional governance Act” which currently covers some professions with a strong environmental component. I believe this was strongly politically motivated due to some high profile cases in order to appease the environmental lobby and the greens.

https://www.bclaws.gov.bc.ca/civix/document/id/complete/statreg/18047#division_d1e4235

#78 Nonplused on 10.08.21 at 8:02 pm

More for Faron,

It wasn’t that long ago that I worked for a US power company. They had a spiffy new office building with solar on the roof, all the car shades in the parking lot there were also solar, and a couple windmills (that did not produce power).

They also had a seriously large screen in the lobby that would show how much power was coming into the building from various sources. I never saw solar hit more than 45%, the rest came from the grid. If it was cloudy the solar was negligible. After dark zero.

They further greenwashed the building by putting charging stations and reserved parking for electric vehicles at the front up against the building. I only ever saw 2 cars parked there, the CEO’s Tesla and some joker’s Leaf. And ya the joker would take the very first spot if he got in before the CEO.

Of all the couple hundred employees in this building, these were the only 2 electric cars I saw. And this was a power company, complete with wind farms and other greenwashing adventures in capital destruction.

#79 DON on 10.08.21 at 8:45 pm

#6 Rainman on 10.08.21 at 2:19 pm
I sense frustration Garth? don’t worry, RE will come down at some point and the market will dictate price. It always does. It’s not different this time. :)

*******

Fustration with extreme nuttiness and the consequences by blowing the bubble bigger.

#80 Ponzius Pilatus on 10.08.21 at 8:53 pm

#39 Sail Away on 10.08.21 at 4:05 pm
#29 Nonplused on 10.08.21 at 3:11 pm
#19 Sail Away on 10.08.21 at 2:53 pm

A Squamish/Whistler realtor friend has owned her business for around 35 years and is well-entrenched with the high-end market. Earnings over the last year were absolutely off the charts.

Bafflingly, she still drives an Audi instead of a Tesla.

——–

Real estate agents can’t afford to miss showings due to a dead battery.

Also there is that old contractor’s maxim: Drive a nice truck so it looks like you are successful. But not too nice such that it looks like you are ripping people off.

——–

If Ponzie goes into real estate, he’ll have to arrange all the showings around the bus schedule.
—————
If I would i’d give the savings from not owning a luxury car back to my clients.

#81 Barb on 10.08.21 at 8:54 pm

cute advice to a young man (author unknown)

Get an unvaccinated girlfriend.
Won’t be able to take her anywhere.
Save a bundle.

#82 G on 10.08.21 at 8:58 pm

Don’t look at this.
And don’t tell anyone else.
Especially don’t let that TurnerNation guy look. LOL

YouTube, Academy of Ideas. Here are just two.

The Big Lie – How to Enslave the World. 12min.
https://www.youtube.com/watch?v=6VfJ0BJvt7Y

Is 1984 Becoming a Reality? – George Orwell’s Warning to the World. 15min.
https://www.youtube.com/watch?v=vEMlvpMY7yw

#83 Nonplused on 10.08.21 at 9:00 pm

#56 Faron on 10.08.21 at 5:46 pm

I wouldn’t be picking on engineers if I were you. Most of them probably can’t be arsed to argue with you, but there aren’t many dummies in the field. They even have their own Ph.D.’s, but not so many as in other fields because engineering is useful so most of them are gainfully employed upon graduating.

#84 Dr V on 10.08.21 at 9:10 pm

58 bankersorta

A simple google and voila – page 63

https://assets.cmhc-schl.gc.ca/sites/cmhc/about-cmhc/corporate-reporting/annual-report/2020/cmhc-annual-report-2020-en.pdf

#85 Doug t on 10.08.21 at 9:26 pm

Ticks, lampreys, bats etc latch onto their unsuspecting prey and feed voraciously on them – nature eh huh

#86 Ponzius Pilatus on 10.08.21 at 9:28 pm

77 DR.V
There are some excellent ones in the private sector. The profit and liability motives can lead to them examining more options and getting more opinions. I always liked it when they asked questions. Sailo should be in this camp, though his strength may be business promotion.
——___
Another public service basher.
I thought you were smarter than being coned by Sailo.

#87 crowdedelevatorfartz on 10.08.21 at 9:33 pm

1200 overdoses in BC so far this year

and its going to get much much worse.

#88 Axehead on 10.08.21 at 9:39 pm

Has a bank in Canada ever gone bankrupt? Ever failed? Ever financially struggled to survive? Unlike all private industries not supported by taxpayer funds. Never. Ever. Central banks have guaranteed their survival, regardless of performance. Is this ethical? Or fair?

#89 the Jaguar on 10.08.21 at 9:43 pm

@#57 IHCTD9 on 10.08.21 at 5:59 pm
“You are correct Jag, on PEC, “the county”. These poorer folks are banking huge on their properties. Many are still running farms part-time alongside a day job or two, and have a lot of land. It is an odd place to gentrify. Grape power I guess. Everyone wants to sever building lots.

It’s a one shot deal, but you don’t have to move very far to get a decent place for 6-700k, nor do you need a mansion after living your whole life in a simple manner.
IMHO, it’s a once in a lifetime bonanza for anyone who owns dirt out there. It’s providing options where not long ago, there were none. Of course, once they’re out – they’re never coming back. Farming is a strange thing, they don’t want to give up the lifestyle, or sell out – but I know what I’d be doing if I lived out there…” ++++++++++++++++

Yes. I understand. It’s a bit of a ‘Gold Rush”. And if you own enough ‘dirt’ it affords one the opportunity to cash out. But your point “Of course, once they’re out – they’re never coming back.”, is worth examination.

My observation is that these are people who have lived, and their previous generations have lived, on that land and in those communities. A big lifestyle change if they elect to move into some suburban cul-de-sac. Like moving to Mars. And Mars isn’t cheap when one cannot claim/pay taxes that in agricultural areas can be quite low. Just grow a little hay for the hobby horses or goats to maintain that status, etc. And what about jobs?

I remember being driven from Lancaster, Ontario to the Ottawa airport on the backroad as my driver insisted “Suri” knew the fastest ‘shortcuts’ and being amazed by the number of four corner stops where beyond the intersection there were only four of five blocks of any real development. The adjacent fields did not look to be cultivated. The houses did not always look to be well maintained. ‘Who the hell lives here”, I thought.
In no way do I mean this as a knock, only as an observation.

And as Garth so wisely advises everyone on this Blog, it’s not the “holdings”, but the “cashflow’.

And “68 Mississauga Mel on 10.08.21 at 7:04 pm”, is correct. On departure those same ‘once in a lifetime bonanza” peeps will pay more for the next roof over their head.

There are a lot of things that exist ‘under the radar’. Economic issues, poverty hiding in plain site….probably even issues such as literacy that would shock us.. I feel sad when I think about it because I think the awareness level for most Canadians is pretty low. Like human trafficking. It’s right under our noses.

#90 Stone on 10.08.21 at 10:08 pm

#65 KLNR on 10.08.21 at 6:52 pm
Anybody looking for a good job?

Ontario hospital fires 57 unvaccinated employees; says 98.5 per cent obeyed mandate

https://www.cp24.com/news/ontario-hospital-fires-57-unvaccinated-employees-says-98-5-per-cent-obeyed-mandate-1.5615340

———

Fantastic! And so the purge begins.

#91 mark on 10.08.21 at 10:15 pm

Been looking around the Shuswap, things starting to build a little. I mean seriously, there has to be a limit to the number of fools paying $900k+ for something that was $600k 18 months ago.

#92 Faron on 10.08.21 at 10:35 pm

#83 Nonplused on 10.08.21 at 9:00 pm

Yes, many engineers are wicked smart. But, there are lots of kinds of smart. For some reason, it leads some of them to believe they know everything (yes, rich coming from me). After my media blitz this summer some emails came in with unbelievably uninformed takes full of GOTCHAs. many of them were retired engineers. Maybe some are fellow commenters. I laughed.

#69 AM in MN on 10.08.21 at 7:07 pm

It was personal defamation. READ THE DECISION.

#55 Sail Away on 10.08.21 at 5:42 pm

I personally majored in geology and weather forecasting but it was too tough, so had to fall back on engineering.

Cool, we have stuff in common except for the falling back part. Seriously, that is my memory from undergrad. The engineers struggle bussing through calc classes. Physics. Fluids. Etc. Cheating on exams. Desperate study sessions. However, they were predominantly frat boys, so that may have been a factor… permadrunk. My point in all of this is that the specialty doesn’t lend itself to knowledge creation/discovery which is what science is. Broad strokes here obviously.

I dash this stuff off on a phone. Commenting on my use of English makes you look small. trite even.

#93 Sail Away on 10.08.21 at 10:40 pm

#87 crowdedelevatorfartz on 10.08.21 at 9:33 pm

1200 overdoses in BC so far this year

and its going to get much much worse.

——-

Yeah, I can’t understand why people choose to do that.

#94 Nonplused on 10.08.21 at 11:27 pm

#92 Faron on 10.08.21 at 10:35 pm

I am against the use of “all” when describing groups of people whether they be engineers, weather forecasters, or whatever. There is no “all” that can encapsulate more than a stereotype for these large groups. For example saying engineers lack creativity flies in the face of the many things they have invented and the many patents granted.

I mean if I were going to walk down that road, I could say that all a scientist is is an engineer with no professional accreditation. It’s true in a way. Funny even. But not particularly helpful.

In practice they both work together.

#95 Ponzius Pilatus on 10.09.21 at 12:04 am

#93 Sail Away on 10.08.21 at 10:40 pm
#87 crowdedelevatorfartz on 10.08.21 at 9:33 pm

1200 overdoses in BC so far this year

and its going to get much much worse.

——-

Yeah, I can’t understand why people choose to do that.
————————
If you have kids, I hope for you that they turn out ok.
It can happen to the best of families.

#96 Jane Finch on 10.09.21 at 12:46 am

More civil service bafflegab to get Trudeau out of a deep statistical hole?

Employment statisticians using an old hoodwink ….seasonal adjustment, to fudge the page. Historically a seasonal adjust linked higher employment with men returning from their farm work and caused a spike in factory numbers. The practice stuck and as expected the lean left civil service has thrown a curveball at our low expectations of the Trudeau economy and “presto” the miracle hand waving and apologetic PM is looking good again. It’s a miracle, at least statistically.

http://www.bnnbloomberg.ca/statistics-canada-to-say-how-labour-market-fared-in-september-after-august-bump-1.1663595

Of course employment isn’t back to pre-Covid levels. Common sense and your own observations tell you that. But statistically, men are returning from the harvest and birth/death modeling makes everything right? Right, just like yesterday’s (and the last four calls) dismal employment numbers versus the very political ‘ projections’. How do they get it so wrong in government? How do millions of jobs just go missing? Oh, right, politics.

#97 Dr V on 10.09.21 at 12:49 am

86 Ponzie

“Another public service basher.
I thought you were smarter than being coned by Sailo.”

Ponz – After doing what I have done for 30 years, I could write a book. Let’s just say many civil servants of junior to mid-level management are on a power trip. I think it’s just who gravitates towards those positions.

The senior people I’ve generally had much better
experiences with. I know where they’re coming from. They put ego aside.

The funny thing is, as much grief as they can give me, who do you think they call when their neck is in the noose?

As far as Sailo goes, I know what it takes to put together a good mid-size professional firm. I cannot recall ever dealing with Sailo’s firm though.

#98 Miss Boomer on 10.09.21 at 2:47 am

BOC Tiff telling two different stories to two audiences. He announced that employment was at pre Covid….yet admits to the Americans that all is not going to plan. Which is it?

https://www.cbc.ca/news/business/boc-us-concerns-column-don-pittis-1.6203452

#99 under the radar on 10.09.21 at 5:37 am

Young fellow bought a slanty semi for 1.4 in the beaches , saw a gate and parking pad in the back yard and assumed property had a right of way. It did not . No legal access therefore no parking.
His agent was clueless and negligent since the Agreement was silent on parking. Sellers were deceitful and they knew it. 65k abatement from purchase price with no negotiation.

Meanwhile, in midtown 416 client pays almost 2k per sq ft for a pre-construction condo 1010 sq ft. She knows she is gambling but firmly believes she will be able to flip it in a few years and well before closing. Her flawed plan B is to rent it out and maybe break even . She will need financing if she must close and will almost certainly be subsidizing a tenant.

#100 Zen Investor on 10.09.21 at 6:55 am

“Cost of living Crisis” . Gas heating prices expected to rise 40% this winter. Analysts expect families to pay “an additional” $2200 dollars this year.

Middle class families already entering “energy poverty'”. Trudeau and Butts Carbon Taxes are creating great hardship.

Paying hundreds of dollars more every month will kill any saving aspirations of working families. And all the while revenue in Canada is drying up. We know foreign capital is flooding out….foreign direct investment is net zero. Did Butts get confused ?

Do you know that the Big Six banks are generating up to 66% of business outside Canada? What happens when RY and BMO move their headquarters to the US? They are already closing branches in Canada while expanding in the US.

Energy businesses are consolidating. No Capex means no revenue!! Where will Trudeaus pocket money come from? When you have to choose between eating and heating what happens?

#101 Sail Away on 10.09.21 at 7:49 am

#56 Faron on 10.08.21 at 5:46 pm

…you engineers largely apply the scientific findings from Universities and R+D (I know this is a gross simplification). Science and innovation are creative pursuits and as such require imagination or “dreamed up worlds”. Engineering would be the last place one would want such things. Save it for the architects.

If engineers were the be all, innovation would lose out to refinement with maybe some empirical invention through T and E.

———

Well, there is an incredibly innovative man out there who created, among other things:

The first commercially-successful electric car
The first publicly-available self-driving technology
The first commercially-successful private space company
The first self-landing, reuseable rockets
The first commercially viable space internet

…but his very name or mention of his wildly-successful ventures seems to drive you into paroxysms of blind fury. Perhaps a bit of (actual, not self-congratulatory) introspection would reveal an illogical defiance or anti-authority type bias toward those more intelligent or accomplished than thyself?

Just a thought.

#102 Elons on 10.09.21 at 8:37 am

#74 Nonplused on 10.08.21 at 7:47 pm
#42 Faron on 10.08.21 at 4:14 pm
#29 Nonplused on 10.08.21 at 3:11 pm

Real estate agents can’t afford to miss showings due to a dead battery.

No, an electric car is perfect for that kind of local driving with ability for regen coming down the hills.

——————————————

I saw claimed evidence that Nikola faked its’ electric semi by building a mock up and rolling it down a hill, but I did not realize Tesla was doing that every single day. ;-)
hills.

—————————————
Recharging on a dyno is much faster than level2. No hills required. Saskatchewan can put them on every corner instead of speed bumps.

#103 KLNR on 10.09.21 at 9:03 am

@#95 Ponzius Pilatus on 10.09.21 at 12:04 am
#93 Sail Away on 10.08.21 at 10:40 pm
#87 crowdedelevatorfartz on 10.08.21 at 9:33 pm

1200 overdoses in BC so far this year

and its going to get much much worse.

——-

Yeah, I can’t understand why people choose to do that.
————————
If you have kids, I hope for you that they turn out ok.
It can happen to the best of families.

addiction is a nasty disease, usually comes as part of mental illness. To say all these folks are choosing to OD is just a bizarre and sad comment. I assume its just trolling.

#104 Sail Away on 10.09.21 at 9:29 am

#95 Ponzius Pilatus on 10.09.21 at 12:04 am
#93 Sail Away on 10.08.21 at 10:40 pm
#87 crowdedelevatorfartz on 10.08.21 at 9:33 pm

1200 overdoses in BC so far this year

and its going to get much much worse.

——–

Yeah, I can’t understand why people choose to do that.

——–

If you have kids, I hope for you that they turn out ok.
It can happen to the best of families.

——–

It happens like cancer, you mean? Or the weather? Completely and utterly out of one’s control?

I did not realize that.

#105 Dharma Bum on 10.09.21 at 11:05 am

#26 A01

Garth tell me when the cottage country prices will decrease. Won’t secondary properties be the first to decline?
——————————————————————————————

The “cottage” market is definitely more volatile than the regular market for typical urban dwellings. Everybody needs (an wants) a place to live. A home.

Cottages (cabins, country places, camps, vacation homes) – they go by varying nomenclature depending on where you’re from – are a different story. They are usually “second homes”, which are, by definition, a luxury item.
For many families, they are a shared, inherited asset, having been handed down through the generations. Most families could not afford the cottages that they have the privilege of having access to.

That being said, many still can, and do. What we are seeing now, in terms of short term price appreciation in the “cottage market” is, of course, largely driven by COVID, and the extrapolated idea that people will able to work from home forever, and that they need space and fresh air as opposed to urban density and proximity to workplaces and transit. Cottage prices have skyrocketed close to 150% in many areas, primarily due to the pandemic response. This, will level off in time.

However, once new heights are set, they don’t often come down to where they started. Either way, cottages – especially waterfront cottages – will remain quite highly priced, even if they come down off their current highs.

If you couldn’t afford a cottage 3 years ago, you’ll likely not be able to afford one in 2 years from now (based on their sell price – not on your personal financial circumstances necessarily, which could improve notwithstanding market conditions, just saying).

The one thing that really affects the cottage market is a harsh recession. A lot of cottage owners are super highly leveraged with HELOCS or second mortgages to finance the luxury of owning a second home. It is an expensive endeavour, both to acquire and to keep up. If job loss or layoffs are imminent, those places gotta go up for sale fast. In a sweeping, deep, sudden recession, the for sale signs on cottages start popping up like mushrooms. Supply goes up, demand goes down, prices fall.

I don’t think it’s going to happen that drastically with the easing of pandemic fears and the forced return to work.
It will cause many to rethink their impulse buy, and possibly force a listing, but it won’t be a massive wave of listings like what has happened in the past with major recessions and cottage price drops.

I believe that decent quality waterfront properties will remain relatively scarce, and fairly high priced into the foreseeable future. The inevitable price drops will not be significant enough to make them reasonably affordable to the average person if they weren’t already affordable to them pre pandemic.

In other words, don’t get your hopes up.

Besides, the Cottage Guy Blog Dog wants you to stay the hell away and Just Stay Home.

#106 kc on 10.09.21 at 11:18 am

62 KLNR on 10.08.21 at 6:17 pm

ya it’s all about you kc.
selfish prick.

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

Want my address and you can tell this to my face in person and we can discuss our differences about this propaganda?

Ever stop and think for a minute that maybe this scare tactic is just that? I huge live in fear created to control the population? They have finally weaponized the common cold/flu.

Call me what ever names you want I really don’t give a SH!T. You want to debate the facts lets go. I live in BC also.

But before you knock on my door, watch all 6 parts with a very open mind and think hard what is happening around you …

love hate and propaganda … CBC special

cheers

https://www.youtube.com/watch?v=NSV6QOvrpqg

#107 Gigi on 10.09.21 at 12:41 pm

The Bank of Canada is not truly independent, if it was they would not let Canadian housing, real estate prices go up so high in the first place. Mortgage rates and interest rates should be minimum 5% to 6% right now. There is no excuses and down payments should be 15% at least. Now, with the Trudeau, Freeland, Morneau Liberals and the Bank of Canada pumping up housing, real estate in Canada day by day, it will only get worse abd not end well.

#108 Faron on 10.09.21 at 1:12 pm

#101 Sail Away on 10.09.21 at 7:49 am
#56 Faron on 10.08.21 at 5:46 pm

The first commercially-successful electric car:

nope, he bought his way into Tesla and then ousted the founders through legal maneuvering.

The first publicly-available self-driving technology:

Except it’s an L2 system akin to those produced by all EOMs now. True self driving comes at L4-L5. thus not self driving. An engineer should know this.

Meanwhile, you can hop into an actual autonomous Waymo taxi in Phoenix and SFO now.

The first commercially-successful private space company:

SpaceX bleeds money and thus isn’t a “success”. Your firm is “commercially successful” does it lose money?

The first self-landing, reuseable rockets:

You may want to look up what NASA had accomplished long before TESLA.

Commercial space internet:

Uh, I used satellite internet as early as 2009. It was and remains a commercial product.

The world is slowly waking to how much snake oil and repackaged tech Elon has sold them.

Crowdedelevartorfartz: the answer is both. I hate frauds and have no respect for people who fall for them regardless of how much money they made on the stonk.

#109 Chalkie on 10.09.21 at 4:23 pm

In trying to help a family member, I Had an experience with a male realtor recently, while evaluating & pricing the home, he had all the answers that one should wish for except correct information, I put the cold hard challenges & questions to him, he was lost then with only excuses and he knew he was had, almost instantly.
my experience in owning multiple family homes over time, soon proved my alertness was right, this fellow was full of hot air.
Further checking this realtor’s track record out, I soon found that he was in his mid 40’s and had never owned a property in his life time, but rather still living at home with Mommy and Daddy & even driving Daddy’s car for an image.
He did not like doing open houses and everything was some else’s problem, never his own. Message here is, do your home work on the history of your agent, regardless of what they tell you, when there is smoke signals, most likely there is a fire hidden underneath the smoke and hot air. If an agent cant be honest and tell it, like it is, keep looking and checking, there are plenty of good honest and hard working Real Estate agent out there, has in my case, “told him straight up to hit the road”. I hired a lady realtor from his own office, hopefully he is smart enough to be honest and look in the rear view mirror the next time that there is a potential client in front of him the next time.
If it looks like a duck, quacks like a duck, it is most likely a duck.