The tilt

A fine house 95 km from the Big Smoke, listed at more than two mill sold for almost $400,000 below asking two days ago. After two months on the market, only one offer came along. “Take it,” the listing agent wisely said. The vendor did.

In Kelowna, where real estate went completely insane (whereas Vancouver was only demented) the market’s trending down. Considerably. Inventory’s been a mess everywhere. Owners don’t want to sell since they fear becoming buyers. With mortgages still at sub-2% and pandemic job losses now fully erased, we are in an odd time. Especially with what’s about to happen.

This weekend, Toronto real estate agent/media columnist Brynn Lackie said this to the masses:

In the months ahead as immigration opens back up, office towers continue to fill with people returning to work, and life starts to look like old normal once more, the structural aspects of our real estate market will only tighten. We have long been saying that this upward trajectory will slow when prices eventually hurtle out of reach, but so far the prices have continued to rise and yet the buyers remain. As long as we have people willing to participate, these market conditions will continue to drive prices.

The average property in both the GTA and Van is over $1 million now. First time that’s happened. In fact, Toronto is overtaking YVR. Also a first. Incomes in both cities are flat, so what’s behind the reality of $1.8 million detached homes?

Brynn’s right. It’s post-Covid. The Big Tilt in real estate over the next year will be towards urban properties. The losers will be the suburban and commutershed ones. It’s already happening, and a vax rate of 80% (and climbing) will guarantee it continues.

There’s no doubt urban downtowns will see a renaissance. For the first time in more than 300 days there are live concerts and full arenas for basketball and hockey games. Vaccine passports have restored 100% attendance limits to large venues, and that will soon be the case for every restaurant, bar and gym. Museums and galleries are open. Universities are back. Condo sales have been leading the market and an acute labour shortage have brought hiring incentives, higher hourlies and a return of tenants.

The big shuffle to the core will happen after Christmas. Toronto, for example, should be at a 90% vaccinate level by then. The banks will be calling back their employees. The subways and commuter trains will be busy places again. Two full years – incredibly – after the slimy little pathogen wafted onto our shores, it’ll be over. The WFH phenom will fizzle for most people, and many will wonder what they were thinking when they moved beyond the horizon.

This blog told you months ago to expect an urban resurgence along with a boonies bust. And we’re sticking with it. The bleeding-out of GTA and YVR property values to the hinterland will prove to be immensely unfortunate. Locals got priced out. The urban refugees were deluded. Only the bankers ended up smiling. Oh yeah, and the Bunnypatch realtors. Never, ever had they ever expected this.

The thesis here hasn’t changed: this will turn out badly for a nation whose GDP is increasingly reliant upon people selling each other houses they can’t actually afford. But before that becomes evident everywhere, 2022’s shaping up to be a complete gong show.

First, this will be the year we realize mortgage rates can swell. The Fed will start tapering in a few weeks and the BoC will increase its benchmark rate in the second half of the new year. In advance, the bond market will push up yields, and long-term home loan rates. The increases will, as always, spur house-lusty fence-sitters into action so they can borrow heroic amounts of money and think they’re clever.

Second, the feds. Oy. In two demand-goosing moves, Ottawa will raise the CMHC insured loan ceiling from $1 million to $1.25 million, allowing the kiddos to borrow another quarter mill with 20x leverage, jacking up prices. It will also create the FHSA, so eighty grand per couple can be leveraged up with tax refunds then used as a taxpayer-subsidized down payment on property. Factor in withdrawals under the RSP Home Buyer’s Plan, and a couple can access $150,000 in subsidized funds to buy real estate.

Now add the return of live uni classes, a restoration in the flow of newcomers, the ultimate erosion in WFH arrangements and the economic boost that a 90% vax rate will bring (at least for 90% of us) in the cities, and this should create still more demand. But will there be more supply? A torrent of new listings? Lots of choice for all these newbie buyers with the hot FHSA cash and mega-loans?

Doubtful. If owners don’t want to sell now because they can’t afford to buy again, why expect change when demand pops more? Thus, the bubble wobbles higher, bigger, more gaseous and extreme.

And to think… we just fought an election over this. Silly us.

About the picture: “I came for the advice and stayed for the dogs.,” writes Calvin in Calgary. “Here is a picture Kula (the golden) and Daisy (the sheltie).  Kula is a puppy and just has not figured out the stairs yet.  Kula has also helped us realize what a well behaved dog Daisy is.  Keep the dog photos coming, if there happens to be some advice (not from the steerage section) I might take a look at that too.”

115 comments ↓

#1 Habitt on 10.10.21 at 2:59 pm

Happy thanksgiving giving to you Dorothy and the dogs. Thanks for this blog and perspective take care all.

#2 Tripp on 10.10.21 at 3:14 pm

#60 Sheesh on 10.09.21 at 4:50 pm

“ Well before we get too excited, read the entire article.”

I did read the entire article. I also read other articles from international media, UK, Israel, US, France, Italy, Spain, Scandinavia, Eastern Europe, India, Middle East. The most vaxxed nations are facing a wave of positive cases. There is an issue with the numbers and we must get to the bottom of it.

Not arguing for or against anything, but we have to analyze and interpret the data with a cool head, devoid of preconceived mindsets. The protection is waning. Whether you believe it or not, the data supports it.

#3 Penny Henny on 10.10.21 at 3:18 pm

With re/ Federal employees’ mandatory vaccine policy.
It seems there are some exemptions
“Exempted employees include (federal) call centre operators, federal judges, meat inspectors, park wardens, postal workers, tax auditors, Commons and Senate staff,” and members of the armed forces.

https://torontosun.com/opinion/columnists/gunter-look-closely-trudeaus-mandatory-vax-policy-isnt-what-it-seems

Could it be true?

BS story. CPC and the Forces will have their own mandates and House of Commons members are not governed by public service rules. They will have a separate mandate. There is no ‘exemption’. – Garth

#4 Dolce Vita on 10.10.21 at 3:20 pm

“…they moved beyond the horizon.”

Like Lorien, the Vorlons and Shadows did beyond the Rim.

#5 Marc Roger on 10.10.21 at 3:22 pm

Happy Thanksgiving.
I’m grateful for this priceless blog.

#6 Flop… on 10.10.21 at 3:24 pm

Been hearing about a green energy revolution in Australia ever since I was a kid.

Heard it a lot.

That and “Hey Boy, get me another beer from the fridge”…

M47BC

———————————————————————————

“Australia’s $2.1 trillion future with 672,000 jobs and net zero emissions.

Billionaires, blue collar workers and green groups have all joined forces for Mission Zero — a new plan to get Australians more jobs with a smarter, cleaner nation.

Australia is the best placed nation on earth to be the global winner in a net zero world, with more than 672,000 jobs created and $2.1 trillion in economic activity generated by 2050.

Billionaires, blue collar workers, green groups and the national architect of the blueprint to net zero have all joined forces for Mission Zero — an unprecedented new project that reveals for the first time the enormous economic forces Australia could unleash by harnessing the clean energy revolution.

This includes construction of the world’s largest solar plant, powering our iron ore exports with hydrogen-fuelled machines and the rebirth of our mining industry as a global treasure chest of rare earths and other minerals.”

https://www.heraldsun.com.au/technology/environment/australias-21-trillion-future-with-672000-jobs-and-net-zero-emissions/news-story/c1c943fc13ce526be2533d896f6ff9e8

#7 Flop… on 10.10.21 at 3:27 pm

Sounds like things are getting bubbly again down in The States.

The roiling is about to get boiling…

M47BC

—————————————————

“Soaring Home Prices Are Roiling Appraisals and Upending Sales.

An unusually high number of homes across the country are being appraised below their agreed-upon sales prices, causing a number of deals to collapse.

Home prices have soared in recent months. Buyers are frequently paying above asking price to win bidding wars, and appraisals haven’t always kept up with those rapid price increases. About 13% of appraisals came in below the contract price in August, according to housing-data provider CoreLogic. That was down from a recent high of 19.7% in May but above 7.3% in January 2020, a rate CoreLogic said is more typical for the housing market.

Home sellers providing information to appraisers is within the rules and can be helpful, though appraisers aren’t required to take such information into account, Mr. Miller said. Following the subprime-mortgage crisis and housing crash, the federal government enacted rules meant to eliminate pressure by mortgage brokers on appraisers to match a desired price.

In recent months, during the height of the boom, many buyers waived their right to terminate a contract due to a low appraisal in an effort to make their offers stand out, which meant they were willing to pay cash to make up the difference.”

https://www.wsj.com/articles/soaring-home-prices-are-roiling-appraisals-and-upending-sales-11633858381

#8 Sail Away on 10.10.21 at 3:36 pm

#114 Faron on 10.10.21 at 1:22 pm
#112 Sail Away on 10.10.21 at 1:02 pm

For autonomy over investments without regulatory meddling, consider South Dakota. All are welcome to camp or RV at our undeveloped acreage bordering the Grasslands. Heck, after talking with the financial folks, you may choose to buy an adjacent property!

———

Cool, then we’d have immediate access to a grammar Nazi and spell checker-in-chief who would asses hip issues in our otherwise lovely and loving pets. We could be regaled with Andy Ngo reading. Sounds grand.

———-

Ah, it’s so pleasant when perpetually angry misanthropes sh!t all over invitations.

You are still invited because I believe in inclusivity, F.

#9 Dolce Vita on 10.10.21 at 3:37 pm

Denmark declared Covid no longer a health emergency & lifted ALL restrictions Sept 10.

74.8% fully vaxd as of today.

See data on your own and decide how that’s going there:

https://politiken.dk/forbrugogliv/sundhedogmotion/art7722019/Her-er-de-nyeste-tal-for-coronavirus-i-Danmark

Their cases per 100K map had only one dark brown area a couple of weeks ago, above link “Sygdomstilfælde pr. 100.000 borgere de seneste 7 dage”.

Followed them daily since Sept 10. You could see Covid creep up on them again, slowly but surely, as it has done around the World *.

Hope it turns around for them, they are a very nice people.

————————-

* Speaking of the World, I recall last year people saying Covid no more than the yearly flu.

Well there flu possums, the Little Pandemic That Could now #6 on the all time Killers list:

https://en.wikipedia.org/wiki/List_of_epidemics

Soon enough it will take out the 3rd Bubonic Plague.

#10 Tom on 10.10.21 at 3:37 pm

With the forest fires and smoke, who would want to move to Kelowna or anywhere in the Oakanagan or Interior of BC for that matter? Even if your place doesn’t get burned down you will be drowning in smoke and it is only going to get hotter. How much will you pay in insurance now with the risk of fires? Garth, don’t you think Central BC is in for a big property reset?

#11 BC Renovator on 10.10.21 at 3:42 pm

Garth, did you get your new Pup yet? Breed/name?

#12 G on 10.10.21 at 3:44 pm

DELETED

#13 Dave on 10.10.21 at 3:46 pm

Kelowna is ground zero for smoke and fires…good luck getting insurance. Property reset coming…

#14 Ponnaps on 10.10.21 at 3:53 pm

In all of the analysis on real estate affordability,how come not a mention of the enormous influence of basement rental income in making real estate affordable?

Speak to any realtor to know rentability of a property is the most significant selling point these days… the burbs it’s now the norm… ironically but not unsurprisingly, people who upsize end up with more cash flow than in their previously smaller home.. so why wouldn’t you go for that bigger , nicer though pricier property?

incomes flatlining yes, but you’re ignoring rental income while questioning affordability

#15 Shawn Allen on 10.10.21 at 3:53 pm

The Dividend Tax Credit???

I get why there is a dividend tax credit on Canadian companies. The company has already paid taxes and the thinking is that tax came out of the share owners’ hides as opposed to customers’ hides (albeit that is a debatable point). And it encourages I suppose investment in Canada.

But why in the world should that dividend tax credit continue to apply to a Canadian company that earns most of its revenue and earnings outside of Canada?

Why for that matter should the lower tax on capital gains include gains on foreign companies (where the dividend tax credit does not apply which seems inconsistent).

Why should there be an encouragement for Canadians to invest outside of Canada and be subsidized to do so by other taxpayers? Is it because the rule makers tend to be investors?

Asking for a friend.

#16 Dolce Vita on 10.10.21 at 3:58 pm

#2 Tripp

I agree the protection is waning.

Spector’s ZOE study shows it waning though he still thinks it’s encouraging:

https://youtu.be/xoGqyFUoUSw?t=962

Recall Pfizer started at 95%.

Yearly Covid shots will become the new normal.

The lastest is Covid herd immunity at well above 80%, as high as 90% percent.

Recall and this KMart of old on herd immunity numbers from last year to this year:

60%
65%
70%
75%
80%
as high as 90%

Spot the trend…

Hope they got it right at 90% but you know, History can be a cruel Mistress and so can a quasi Geometric Series.

#17 Quintilian on 10.10.21 at 4:04 pm

“In two demand-goosing moves, Ottawa will raise the CMHC insured loan ceiling from $1 million to $1.25 million, allowing the kiddos to borrow another quarter mill with 20x leverage, jacking up prices.”

I am inclined to think that the effect of goosing of demand might be short lived if there is not a corresponding rise in wages or another round of monetary loosening.

#18 TurnerNation on 10.10.21 at 4:27 pm

That wasn’t an election. It was the occupying forces cementing power. This is global WW3 after all.

War on Small business. Yes the New System is unfair
Fact: We’re almost 2 years into the #reset, no end is planned or in sight.#UBI2022

.‘Unfair’: Ontario restaurants disappointed capacity restrictions remain in place (cp24.com)


— Yellowknife hit with the rolling, permanent Economic and Social Lockdowns. House arrest for some:

https://twitter.com/NWT_CPHO/status/1446519541429846017
@NWT_CPHO Chief Public Health Officer –
This means no indoor gatherings in #Yellowknife, #Ndilǫ, #Dettah and #Behchokǫ̀. In Behchokǫ̀ there can be no outdoor gatherings either, until case numbers are lower. (2/5)

——
——

Comrades! We are so close to going back to normal. 025.
You know what to do. Root out those collaborators and turn them in. They will soon sign their Confession. Everything old is new again. (But the hospital capacity guys!!)

https://www.saskatchewan.ca/government/health-care-administration-and-provider-resources/treatment-procedures-and-guidelines/emerging-public-health-issues/2019-novel-coronavirus/public-health-measures/public-health-orders/non-compliance-reporting-form
What offence under the public health order are you reporting? *
Self-Isolation / Face Covering/Masking
Proof of Vaccination/Negative Tests
Are you reporting an individual or a business? *
Individual /Business

—–
—– Sounds like a Consp. Theory:

https://twitter.com/CBCSask/status/1446619064097509378
CBC Saskatchewan @CBCSask
Ex-police will enforce COVID-19 rules, ‘secure isolation site’ planned, Sask. doctors told

#19 Reality Check on 10.10.21 at 4:28 pm

What will the FHSA actually look like?

The devil’s in the detail. The FHSA will have a total contribution limit of $40k. But will there be an annual contribution limit (say for example $10k/yr), rather than allowing people to sock away the full $40k in the first year? Maybe, maybe not? If The Liberals are expecting another election within the next couple years perhaps they will want to make the FHSA look as generous as possible and thereby allow for people to make an immediate contribution of the $40k. Now most people likely do not have a spare $40 hanging around so the money would likely come from parents or perhaps banks will be lining up to loan people $40k to contribute in the hopes of future mortgage business. Also, since the FHSA is going to be deductible for income tax, people will have to determine whether it benefits them to spread contributions out over several years to get the greatest tax benefit. Of course, since everyone wants to buy a house yesterday, any long term tax planning by FHSA contributors is unlikely and they will sock away as much as possible as soon as possible. Regardless the FHSA will be one massive boondoggle of a Liberal handout – so make sure you and/or kids take advantage of it. You as a Canadian taxpayer will be paying for it for decades.

#20 NOSTRADAMUS on 10.10.21 at 4:56 pm

THE DEVIL’S DISCIPLE
There are so many signs that the devil once again walks the earth to cause chaos and havoc. The tools that best serve his purpose are zero interest rates, light to non existent lending covenants, subsidized rent and mortgage payments, the gutting of a pensioners interest rate on their after tax dollar savings. I could go on and on. On top of all this, we have the devils most insidious disciple, being a” BENT REAL ESTATE AGENT” These individuals should be charged with financial murder for the lives they have destroyed. The sign of the ‘Holy Cross” has no meaning, morally or ethically for these creatures from hell. The only way to stop these blood suckers is to drive a R.E.C.O. stake through their blackened hearts. If a realtor is giving false or misleading information that can not be substantiated, you can go on line to the R.E.C.O. web site, fill out the forms and initiate a complaint. This is the only, and I mean, the only way to ward off the evil of a ” BENT REAL ESTATE AGENT.” Trust me, what have you got to lose? Spread the word, together we can make this a better world. AMEN BROTHER.

#21 Shirl Clarts on 10.10.21 at 4:58 pm

Whaaat? BOC not raising rates until July 2022? That’s almost a gear from now. What are they waiting for? More inflation on everything?

Well, everyone should be getting a raise, or surrender to the fact that you make less money, and will soon be paying more taxes.

#22 Cici on 10.10.21 at 5:02 pm

I second #5 Marc Roger on 10.10.21 at 3:22 pm.

Happy Thanksgiving everyone.
I too am grateful for this priceless blog.

Thanks for everything you do, Mr. Turner.

#23 WTF on 10.10.21 at 5:05 pm

Over 1.1 million new entrants to Canada in 2019,. Per GOC website ” we welcomed over 341,000 permanent residents, including 30,000 resettled refugees. Over 402,000 study permits and 404,000 temporary work permits were also issued.”

Not all will stay. And yes the TFW typically can obtain permanent residency. Over one million per annum is a lot of people and most end up in Van or To. A full discussion about economic impacts including housing isn’t complete without including this as one of the many factors. Ignoring it is folly.Yes we need immigration. We also need a discussion about impacts, schooling (elementary thru uni) to healthcare , housing, transportation. Already, many school boards here in the LM operating budgets are heavily reliant on international students. So far so good, but a tipping point is conceivable. In my opinion immigration is a positive if managed in a strategic manner. Not confident the current Govt is doing their due diligence.Simply bumping the numbers for future votes seems likely given the actors we currently elected to govern.

https://www.canada.ca/en/immigration-refugees-citizenship/corporate/publications-manuals/annual-report-parliament-immigration-2020.html

#24 SimplyPut7 on 10.10.21 at 5:09 pm

Yup, I’ve been told to go back in November.

Baby steps, I will still be mostly working from home. I didn’t move and I will be taking transit, should be interesting for the new to the boonies people to find out their 90-minute commute, adds up to 5 hours of their day lost to traffic and parking – without even considering snowstorms which easily add an extra hour to the commute.

I know many people who don’t have to go back until January, so there will be many shocked faces when they find out how much the new commute costs whether driving or taking transit from the new million-dollar location.

#25 Millennial Realist on 10.10.21 at 5:18 pm

Garth, what is missing in your analysis is appreciation of the bigger picture.

This is not even half over, pandemic-wise.

And the social and economic reckoning and restructuring with climate change has not even begun.

Have a listen, barely 2 minutes, to a wise voice speaking about the future of urban cores, over 60 years ago. (I realize you are too young to have known much about this Arthur C Clarke guy, Garth, but he is worth a listen.)

https://www.youtube.com/watch?v=wC3E2qTCIY8

The “return” to cities will not be completed as forecasted. Just part of much bigger changes on the way.

We will “….no longer commute, but will communicate…”

Be part of the change.

Or be run over by it.

#26 Squire on 10.10.21 at 5:33 pm

Things could change quicker than many smug homeowners think….
https://financialpost.com/investing/investing-pro/david-rosenberg-deflation-not-inflation-will-be-the-topic-when-housing-equity-bubbles-pop

#27 R on 10.10.21 at 5:54 pm

#20 NOSTRADAMUS :
Sacrasm , right ?

#28 Philco on 10.10.21 at 5:54 pm

That’s how I go down the stairs. I pay for it every time.

#29 Flop… on 10.10.21 at 6:02 pm

I live in Midtown, the highest part of the city.

I just need the water to rise about 300 metres and my apartment will be waterfront…

M47BC

——————————————————

Vancouver’s Designated Floodplain.

There are a number of datasets on the City’s OpenData web portal. One of the datasets is a map of the City’s designated floodplain. It might be worth noting the fact that new developments are going up in floodplains, which include parts of South East False Creek, the False Creek Flats, and the East Fraserlands.

Map here.

https://cityhallwatch.wordpress.com/2021/10/08/designated-floodplain/

For further reading.

Canadians are unknowingly buying homes in climate change danger zones, report finds:

Climate change could boost damage costs by billions; more risk disclosure needed for adaptation
CBC, Emily Chung, 4-Oct-2021: https://www.cbc.ca/news/science/climate-risks-1.6196450

#30 Baffled on 10.10.21 at 6:06 pm

Isn’t it really just a case of collective mental illness? A bunch of liars selling BS whether it is policies or properties and a big part of the population just agreeing when they should know better.

#31 G on 10.10.21 at 6:09 pm

This is interesting last 40-seconds especially, to make it quicker.
Not just the attempt to limit debate on the floor of there parliament, but the reduced numbers mentioned in the last 40sec, starting at 14min28sec.

I hope people in Canada are taking a closer look at this also to hopefully help reduce our cases and deaths here too. And if not, OMG why not! To get back to “normal”. I thought that was the goal. Or does the Government just want to keep moving the goal post back more and more?? Its starting to look that way to me, the actions I see are speak louder than words.

Near the end starting at 14min 28sec.
Reduced numbers are mentioned that seem worthy of some attention. I’ve been hearing other talking about this apparent positive development that could be added to our fight against… also.

‘In India Sate of ___ that had daily case rates of 35,000. By using ________ now have 7day case average down to 19 and 7day average deaths down to just 2 people and with a 67% vaccination rate…’
Earlier in video, just for $2 …. is mentioned.

Disgrace in the Australian Parliament as MP’s conspire to shut down free speech. YT Oct 6, 2021 15min
https://www.youtube.com/watch?v=dgCABsRgaH8

#32 THE DANDADA on 10.10.21 at 6:11 pm

and you think CRYPTO-CURRENCIES are a Ponzi Scheme…

move over and make way for the Canadian Real Estate Industry….. A house of cards!

#33 Concerned Citizen on 10.10.21 at 6:16 pm

In my suburb of over 100K people, there are 5 listings below $400K – all trailer homes on the outskirts of the city. There are 10 listings between $400K and $600K – I wouldn’t want to live in any of them.

The way things are going, in a couple years it’s going to be $1M for a 600 sqft shoebox in the sky in a bad part of town, and $2-3M for a slanty detached with a leaky foundation by the train tracks. In a suburb (a nice suburb, mind you, but a suburb).

The younger generation as a whole has no chance. The economic “stimulus” is sentencing the young to a lifetime of serfdom. I thought Canadians were a caring people. Apparently not.

#34 Shawn Allen on 10.10.21 at 6:17 pm

WTF Math

#23 WTF on 10.10.21 at 5:05 pm

Over 1.1 million new entrants to Canada in 2019,. Per GOC website ” we welcomed over 341,000 permanent residents, including 30,000 resettled refugees. Over 402,000 study permits and 404,000 temporary work permits were also issued.”

*************************
A math fail, you have to deduct expired student and temporary work permits. Many of the new permits may have been issued to those with expiring permits and sure some people with expired permits left. Seriously, you posted this?

#35 G on 10.10.21 at 6:25 pm

I also second #22 & #5. It’s to easy to forget to remember to actually say it.

Happy Thanksgiving everyone.
I too am grateful for this priceless blog.

Thanks for everything you do, Mr. Turner.

#36 Garth's Son Drake on 10.10.21 at 6:43 pm

If this the “$200 away from bankruptcy” crowd in Canada that is starting to show up at food banks.

Me thinks so, right in line with the stimulus ending. This is going to get worse not better.

2023 is the year Canadian Housing ain’t looking so hot.

Ottawa food programs say they’re seeing an unprecedented need for their services due to rising food prices and families facing financial difficulties because of the pandemic.

The number of people seeking meals and grocery boxes throught the Caldwell Family Centre has doubled since January, said Marilyn Matheson, the centre’s executive director.

#37 Fangs Fully Popped Out on 10.10.21 at 7:01 pm

In the overall big picture you are probably right.

But make no mistake about it: there will be a lot of people who never return to the urban centres and this paradigm shift in not needing to be in person as technology advances will forever dampen future demand on the urban centres – not to say demand won’t be there with aggressive immigration policies – it just won’t be as intense as it would logically be if work from home and the emerging technology to enable this shift was not here.

Look at companies like PwC.

Same with gold. If it was not for crypto, gold would be soaring, but times have changed.

Change is inevitable and technology disruption will continue.

Eventually by about 2030 we do not have to even worry about work at all as AI will have fully replaced us.

Also, who in their right mind would want to go back to Vancouver, Vancouver Island, Okanagan, GTA, Hamilton, Ottawa or London? Prices are nuts there. Offer me a minimum wage of 500k for these locations otherwise to hell with that. I will go sell trinkets in bunny patch without a care in the world and make very little income and still be able to afford a better living than being in the urban centres.

That is how messed up housing in Canada is. And Covid was the psychological driver that broke the camels back regarding the urban way of thinking in Canada. This is a real shift.

#38 Nonplused on 10.10.21 at 7:02 pm

#6 Flop… on 10.10.21 at 3:24 pm

Been hearing about a green energy revolution in Australia ever since I was a kid.

Heard it a lot.

That and “Hey Boy, get me another beer from the fridge”…

M47BC

———————————————————————————

“Australia’s $2.1 trillion future with 672,000 jobs and net zero emissions.

————————————————

It’s a good thing they thought of this! Actually I am surprised nobody ever thought of wind and solar before and also that no one has ever tried to build a wind or a solar farm and thus the economic potential waiting to be unleashed has heretofore gone completely unnoticed and untested.

But 2050 is only a short 29 years away, which is about when fusion energy will be cheap and abundant, or so they have been telling us for 50 years. Commercial fusion energy is always just 10 years away from reality, so it seems risky to me to invest a whole lot in solar panels for the year 2050. Especially since few solar panels installed today will still be functional in 2050. I’d think it is best to wait for the fusion reactors.

Thankfully we have billionaire entrepreneur Mike Cannon-Brookes who sucks up government subsidies and Dr Charlton, the Asia-Pacific Sustainability Lead and Managing Director at Accenture to sell us the snake oil. They couldn’t possibly have a vested interest in this message, could they?

I mean just think of all the jobs! And look at the charts! I bet they used PowerPoint to make the charts. Very professional.

Anyway I don’t have to worry about it because I just saw an ad that says I can make $300,000 a month risk free trading forex, so I’m going to have enough money to build my beach house on wheels so I can just roll it up the hill as the ocean levels rise.

#39 Nanaimo is the New Kelowna on 10.10.21 at 7:07 pm

Nanaimo real estate is set to out perform according to the msm. No smoke over here. Just ocean, rivers, mountains, parks, islands, and so much more. We also have wine.

#40 Philco on 10.10.21 at 7:36 pm

#18 TurnerNation on 10.10.21 at 4:27 pm
————————————–
YES a complete hoax all the way around. No one really voted…
Was it rigged? It would have taken jack to push it either way.
Just the same goon now as planned, looking into bank accts, for MORE taxes, and censorship.
And Facebook, the cesspool of the I-net and a complete attack on democracy if we have any left.. I would touch that garbage outfit with a 50 foot pole.
The no fun zone has arrived.
I had to run into Costco and straight back out of Costco to eat my hotdog! What the hell is a life like that?
Cheers to insanity.

#41 Philco on 10.10.21 at 7:42 pm

#39 Nanaimo is the New Kelowna on 10.10.21 at 7:07 pm
Nanaimo real estate is set to out perform according to the msm. No smoke over here. Just ocean, rivers, mountains, parks, islands, and so much more. We also have wine.
———————————————-
Don’t wish it upon yourself. I had 2 homes in Kelowna 1992 long gone now a pile of RE Courtenay / Powell.
Kelowna = gong show and was BEAUTY 1990

#42 Tripp on 10.10.21 at 7:45 pm

#16 Dolce Vita on 10.10.21 at 3:58 pm

“…KMart of old on herd immunity numbers from last year to this year:

60%
65%
70%
75%
80%
as high as 90%

Spot the trend…”

————————

Yep, the trend is clear. Even Bella Italia had enough, the recent protests are showing. BTW, like other recent protests around the world, the Canadian MSM barely mentioned it; when they did, it was of course about the “far-right”…

#43 rowdie on 10.10.21 at 7:47 pm

House prices in BC will crash, and therefore, people can buy at reasonable prices again. We are still on the side line to buy into the real estate, but, until these stupid high prices come down then we will then again head out house hunting. Why oh why would someone purchase a home for over a million and carry a huge mortage for 30 years. It is beyond my comprehension and logic. They are insane!

Interest rates are coming up and for any 1st time buyer it is a warning.

A home is a home, not an investment for down the road as many are doing now.

Have a good, safe thanks giving to all!

#44 Nonplused on 10.10.21 at 7:55 pm

https://www.zerohedge.com/markets/well-done-greta-energy-crisis-send-carbon-emissions-all-time-highs

Perhaps the most enlightening line from the article, although it seems like even the author seems to have missed the importance of it:

“Meanwhile for all those virtue-signalers listening and complying with Greta’s endless platitudes (which bizarrely continue to omit China as the primary source of emissions), we hope you enjoy your next energy bill.”

Well trained detectives will wonder why that dog didn’t bark.

#45 Tedfifty on 10.10.21 at 7:56 pm

Garth! Some days you confused the shit out of me. You just scorned RE/MAX and Royal LePage for suggesting there was at lease another 7% of
price gains left and yet here you are suggesting the same thing. What exactly was it you disagreed with in their analysis of the market.

#46 G on 10.10.21 at 8:00 pm

DELETED

#47 Carla on 10.10.21 at 8:02 pm

Happy Thanksgiving, everyone!

Despite all the challenges, now is a great time to be alive. Enjoy the day with your loved ones.

#48 crowdedelevatorfartz on 10.10.21 at 8:14 pm

@#34 Shawn Allen
“you have to deduct expired student and temporary work permits. Many of the new permits may have been issued to those with expiring permits and sure some people with expired permits left.”

+++
Seriously?
You posted this?
You have to add the students that disappear, the people that are ordered out that move(disappear?), the people that are ordered out that appeal…for decades…., the “tourists” that stay illegally, the TFW’s that disappear.

Canadian officials pretend to enforce the rules so long as the migrants pretend to follow them.

#49 Don Guillermo on 10.10.21 at 8:30 pm

On a lighter note, flying over to Mazatlan from Cabo Wednesday evening. Hoping to sneak in ahead of the next potential hurricane named Pamela. We’ll see where this goes.

-I’m going where the sun keeps shinin’
Through the pouring rain
Going where the weather suits my clothes
Banking off of the ‘southeast’ winds
Sailing on a summer breeze
And skipping over the ocean like a stone”
– Fred Neil 1966 later became a hit by Harry Nilsson with Midnight Cowboy. Classic. I changed Northeast to Southeast for context

#50 canuck on 10.10.21 at 8:31 pm

#39 Nanaimo is the New Kelowna

Nanaimo real estate is set to out perform according to the msm. No smoke over here. Just ocean, rivers, mountains, parks, islands, and so much more. We also have wine.
____________________________________________

As someone who, in recent years had to travel there every 90 days for work, I note that you neglected to mention a very limited selection of hotels, mediocre restaurants and weak staffing in pretty much every industry not only in Nanaimo but throughout the island and most obvious, insane traffic that not only rivals but exceeds the mess in Kelowna. While Nanaino doesn’t stay as soggy as Vancouver in the Winter, it’s still dreary. Kelowna, meanwhile still sees the sun regularly in the Winter, it just disappears between 3 and 4 each afternoon…Never a sunset.

Regarding Garth’s blog, I think the elephant in the room is while most understand that inflation is upon us, I think many don’t realize just how fast it’s coming. Try and get a deal on a car, Boat, RV or motorcycle. I’m already reading about a lack of inventory for Christmas. Maybe when people can’t find that special gift, they’ll realize somethings up.

#51 crossbordershopper on 10.10.21 at 8:34 pm

There are no homes for sale in KW,Guelph,Cambridge area. population growth far outstrips rentals and homes available. This will continue for the foreseeable future.
Thanksgiving with my parents does underscore something, they have been living in there house since 1968. What some people dont understand is that some people, NEVER leave. never move,
i got a nice little house for 69K in small town sask if your interested. if your retired or can wfh or can live on little since you probably arent going to find a job around, its a real idea for many people. no mortgage no commute etc, you can have a very nice life assuming you go south 6 months a year.

#52 45north on 10.10.21 at 9:09 pm

NonPlused

It’s a good thing they thought of this! Actually I am surprised nobody ever thought of wind and solar before and also that no one has ever tried to build a wind or a solar farm and thus the economic potential waiting to be unleashed has heretofore gone completely unnoticed and untested.
But 2050 is only a short 29 years away, which is about when fusion energy will be cheap and abundant, or so they have been telling us for 50 years. Commercial fusion energy is always just 10 years away from reality, so it seems risky to me to invest a whole lot in solar panels for the year 2050. Especially since few solar panels installed today will still be functional in 2050. I’d think it is best to wait for the fusion reactors.

pretty funny

#53 Stoph on 10.10.21 at 9:39 pm

#112 Sail Away on 10.10.21 at 1:02 pm
For autonomy over investments without regulatory meddling, consider South Dakota. All are welcome to camp or RV at our undeveloped acreage bordering the Grasslands. Heck, after talking with the financial folks, you may choose to buy an adjacent property!

———————

SA, you’re not the only person with money parked in South Dakota.

https://globalnews.ca/news/8256924/pandora-papers-how-rich-elite-use-u-s-states-hide-billions/

#54 gfd on 10.10.21 at 9:43 pm

World
Russian plane carrying group of parachutists crashes, killing at least 16.

#55 Overheardyou on 10.10.21 at 9:48 pm

And I stick by my statement that apparently debt has no negative consequences, ever.

#56 Wrk.dover on 10.10.21 at 9:49 pm

#51 crossbordershopper on 10.10.21 at 8:34 pm
you can have a very nice life assuming you go south 6 months a year.
_________________________________

or do it like IHCTD9….watch it on U-Tube.
(I couldn’t resist)

#57 Sail Away on 10.10.21 at 10:05 pm

Re: Nanaimo’s beauty

I’ve lived many places as an adult, including Alaska, Georgia, Kentucky, Tennessee, Maine, Michigan, Korea, BC, and have greatly enjoyed all of them. Flexibility is key, or more particularly: mindset. There’s no skiing in Georgia, but there are endless giant warm-water river systems to explore, filled with crazy animals and delicious catfish. Or wander the barely-populated Korean mountain villages and temples checking out tiny deer and battle sites full of war debris left untouched. Michigan’s Lake Superior is a gem and Alaska is, well, Alaska.

Nanaimo is an excellent place to live and raise kids. So many outdoor activities just out the door. It feels like one long vacation. Our extended family often spend their vacations at the SA Nanaimo resort… although we often take advantage by licensing them up and dragging them out to harvest some wild sustenance for our larder. Winter nighttime low tide geoducks are always great fun with little kids, dogs, bonfire, the whole pack. And mushroom hunting, although it’s almost too easy since we trained the dogs to alert us to chanterelles or pines. Spring morel camp is beyond divine.

#58 Sail Away on 10.10.21 at 10:20 pm

#53 Stoph on 10.10.21 at 9:39 pm
#112 Sail Away on 10.10.21 at 1:02 pm

For autonomy over investments without regulatory meddling, consider South Dakota. All are welcome to camp or RV at our undeveloped acreage bordering the Grasslands. Heck, after talking with the financial folks, you may choose to buy an adjacent property!

——–

SA, you’re not the only person with money parked in South Dakota.

https://globalnews.ca/news/8256924/pandora-papers-how-rich-elite-use-u-s-states-hide-billions/

———

Um… yep. Beautiful little Custer has had a Tesla supercharger for years. Soon our car will be full self driving from Nanaimo to Custer while we snooze.

#59 Good luck on 10.10.21 at 10:44 pm

Dolce Vita, we will see in 6 to 12 months in Italy when you have socialist style inflation and you can’t even afford a loaf of bread. It is not the vax, it is communism coming. You are so clueless and even the pope is a socialist. People are really dumb these days.

#60 Nonplused on 10.10.21 at 10:57 pm

More on the hype:

https://mishtalk.com/economics/shortages-everywhere-including-power-outages-caused-by-a-shortage-of-coal

It could be that all this talk of fuel shortages this winter is just a bunch of baloney, after all how often do the prognosticators get anything about the future right? But on the other hand one of the problems in Texas last winter, more so than reliance on wind, was the fact that many of the coal power plants were off line either because they had no fuel (inventory had been sold or burned down as the plant was to be mothballed) or couldn’t get emissions permits. So it does look like a bit of a repeat on a larger scale. Natural gas shortages are usually preceded by low inventory levels so we’ve got a check mark there too. The only wild card left is the weather. The weather makes a huge difference to all things energy consumption in the winter.

I don’t see power outages coming to Canada this winter, but prices could be high and industrial production could be curtailed.

#61 Nonplused on 10.10.21 at 11:01 pm

#52 45north on 10.10.21 at 9:09 pm
NonPlused

pretty funny

———————————

It was meant to be at least sarcastic.

#62 Vaccine on 10.10.21 at 11:07 pm

Die now or die later with or without the vaccine because with all the other stuff they manufacture and put in the water, food, medication etc. Ever see all those lawsuits commercials on Us TV channels from asbestos to paraquat to zantac that cause lung cancer to parkinson’s disease to non-hodgkins lymphoma, Johnsons and Johnsons baby power other health problems.

Most people just get it because they are forced to but they know it does not work. It is all BS.

#63 Super Booster on 10.10.21 at 11:25 pm

Pretty soon food banks will be outlawed as we go into communism within maybe a year or two. Maybe Canadians can get a inflation pass so they can be protected against higher food inflation but there is one catch, you have get a new vaccine shot every time you get the lower price or free food. This way in one year you can have I don’t know 100, 200, 300 shots. It is the super booster.

#64 replace them all with computers on 10.10.21 at 11:52 pm

Dolce Vita, Mario Draghi, Italy’s prime minister is the former head of the European Central Bank that put negative stated interest rates and expends the green pass vaccine passport in Italy. Yeah, negative interest rates were such a great idea just the green crap pass. It is the same people over and over that are screwing up this world.

#65 Ponzius Pilatus on 10.11.21 at 1:40 am

#49 Don Guillermo on 10.10.21 at 8:30 pm
On a lighter note, flying over to Mazatlan from Cabo Wednesday evening. Hoping to sneak in ahead of the next potential hurricane named Pamela. We’ll see where this goes.

-I’m going where the sun keeps shinin’
Through the pouring rain
Going where the weather suits my clothes
Banking off of the ‘southeast’ winds
Sailing on a summer breeze
And skipping over the ocean like a stone”
– Fred Neil 1966 later became a hit by Harry Nilsson with Midnight Cowboy. Classic. I changed Northeast to Southeast for context
——————
Friking beautiful song, and movie.
Did not think you had it in you Donny G.

#66 Jah Rool on 10.11.21 at 2:12 am

I’ve been laughing at the cheerleaders calling for a recovery since March/20. So far, all we’re seeing is a coordinated frightful capitulation by governments who are witness to growing global anger and riots .

The Covid opportunity has been a failed experiment. Ditto with climate hysteria. Covid remains. Wait till heating costs drive people out into the streets and we’ll witness the end of climate change for the same reasons. Social experiments are one thing, bloody revolution another. Those weather capitalists know they have reached their limits.

Let’s face it, people in herds are suckers for anything that makes noise. That explains our fascination with fireworks. But following herds is always a disaster for individuals.

” People run crazy in herds, but come back slowly as individuals”. Don’t expect the elastic snap back you forecast. There are still plenty of bureaucrats worldwide who want to hold your head in the toilet longer so that they can squeeze more power.

#67 Jane Finch on 10.11.21 at 5:54 am

Sorry Amigo, but the numbers as are in a slow but obvious death spiral of constant revision. Haven’t you noticed? Every week, lower and lower. The FED and BOC has been publicly in denial for months but their talk back and forth has been the opposite of what they’re saying publicly. 157 thousand jobs in Canada? Seriously? No inflation? Wahhhhhhtttt? C’mon guys, get your head out of it.

My reasons? Energy poverty is already sucking consumer spending dry and we haven’t even seen the beginning of what is forecast go be a long cold winter everywhere in the western world. There won’t be a recovery if the energy complex goes Godzilla this year. Already shortages are causing severe spikes in forward contracts. A consumer meltdown isn’t really priced fully into the market. Wait until you see that 50++ % tsunami market merge with the Trudeau Carbon Tax and The Great Butts Failure in markets like Ontario and mixed with the horrible news in Europe and China.

#68 Nonno Nicola on 10.11.21 at 7:13 am

#59 Good Luck

Dolce Vita is more than capable of making his own bread!

#69 Nonno Nicola on 10.11.21 at 7:18 am

#62 Vaccine

Aren’t you a ray of sunshine first thing in the morning! You must be the life of the party with your rosy views…

#70 Nonno Nicola on 10.11.21 at 7:24 am

#57 Sail Away

Lovely Lake Michigan is not exclusively Michigan’s. There’s a province called Ontario that has half of it. Places like Thunder Bay and Sault Ste.Marie grace its shores.

#71 KLNR on 10.11.21 at 8:04 am

@#66 Jah Rool on 10.11.21 at 2:12 am
I’ve been laughing at the cheerleaders calling for a recovery since March/20. So far, all we’re seeing is a coordinated frightful capitulation by governments who are witness to growing global anger and riots .

The Covid opportunity has been a failed experiment. Ditto with climate hysteria. Covid remains. Wait till heating costs drive people out into the streets and we’ll witness the end of climate change for the same reasons. Social experiments are one thing, bloody revolution another. Those weather capitalists know they have reached their limits.

Lol

#72 Do we have all the facts on 10.11.21 at 8:25 am

One aspect of the recent increase in the value of homes is a corresponding increase in the number of older homeowners who are filing for divorce. Between 2010 and 2020 the number of Canadian citizens 65 years of age or older who reported their status as divorced increased 350,000 persons to 630,000 persons (80%). Since February 2020 the number of citizens 65+ filing for divorce has substantially increased.

It would be interesting to determine the percentage of homes valued at more than $1,000,000 that were sold across Canada as part of a divorce settlement. I have a hunch that many women who had remained in a marriage for financial security saw increased equity in their matrimonial home as an opportunity for independence.

The impact of an 80% increase in the number of 65+ divorced citizens on the Canadian housing market might be worth looking at.

I might also have a peak at the fact that in 2021 the average length of a marriage in Canada was only 14 years while the average mortgage was over 25 years. If the average value of homes in Canada was to decline one could anticipate an increase in home sales related to a divorce settlement.

I am certain financial planners discuss the possible impact of divorce on home ownership with their clients.
Maybe it is time for the Government of Canada to consider how an inevitable reduction in average home prices might
impact the future lives of Canadian citizens.

#73 crowdedelevatorfartz on 10.11.21 at 9:42 am

@#67 Jane Finch

“Energy poverty is already sucking consumer spending dry and we haven’t even seen the beginning of what is forecast go be a long cold winter everywhere in the western world. There won’t be a recovery if the energy complex goes Godzilla this year. Already shortages are causing severe spikes in forward contracts. A consumer meltdown isn’t really priced fully into the market. Wait until you see that 50++ % tsunami market merge with the Trudeau Carbon Tax and The Great Butts Failure”

+++

Yep.

I’m not seeing or hearing a great deal of optimism from coworkers, friends, relatives as they glimpse a Covid free future sometime in 2022 or 2023?

Just angry, disillusioned, voters staring at useless talking heads with their endless , politically correct prattle.
Promising theoretical goals they have no intention to keep….
Achieving nothing but higher and higher deficits, debt and , of course, taxes.
And after years of lies, fraud and failure….
Their gold plated, taxpayer garanteed pensions,… are awesome.

#74 crowdedelevatorfartz on 10.11.21 at 9:50 am

I watched the 6pm Golbal news last night.
85% of the “News” was on politically correct initiatives.
Aboriginal improvements for housing or schooling or the endless buried kids.
Gay( Trans?, Bi? Tri?) rights and their struggles for equality.
Global warming ( we’re all doomed.).
Covid daily death count ( it’s uppa uppa uppa).
Vancouver’s Greening initiatives.
Less than 5 minutes for the crime stats ( the shootings, the overdoses, the sexual assaults, the vandalism).

The “News” hour has become our nanny.

Gobbels News Hour

#75 Prince Polo on 10.11.21 at 10:12 am

I am not sure what’s more ludicrous: the idea we can expand entitlements to this extent and only extremely rich people will need to pay for it or the hardened belief that people don’t respond to incentives. I think the flaw here is the belief that economic growth is inherently zero sum. It follows from that assumption that incentives don’t matter because growth only happens if one person loses and another gains. Therefore, we can choose our winners and losers without any loss of prosperity. I reject this proposition. The evidence is overwhelming growth, and innovation is how we prosper. It is not zero sum. Yes, there is scope for redistribution, but how you do it really matters.

https://allisonschrager.substack.com/p/known-unknowns-c23

Happy Turkey Day to all the blog turkeys!

#76 crowdedelevatorfartz on 10.11.21 at 10:19 am

@#68,69,70 No no Nicky

three seconds of my life I’ll never get back……..

#77 Joe on 10.11.21 at 10:29 am

The stock market can go to the moon based on nothing but CB stimulus but real estate is going down when it’s being heavily pumped by the government? Your bias is loud and clear.

Stock valuations are based on a complex web of factors, most importantly earnings, dividends and cash flow. House prices are based largely on emotion. There is no direct comparison. – Garth

#78 Dharma Bum on 10.11.21 at 10:30 am

#65 Ponzie

Friking beautiful song, and movie.
Did not think you had it in you Donny G.
—————————————————————————————–

It really is.

Now, I can’t get it outta my head!

Wahhhhhhh, wa wa wa wa
Wa wa wa wa wa wa wa wa wa

Everybody’s talkin’ at me
I don’t hear a word they’re sayin…

#79 TurnerNation on 10.11.21 at 10:33 am

It’s not a reset? Economic takedown of the (former) First World Countries continues.
The ‘March Toward UBI’ I call it. Hands up who still, 20 months later, still think this is over a virus?

.TTC considering recalling retired workers to fill gaps caused by COVID-19 vaccine mandate (cp24.com)

.Ontario health sector braces for worse staff shortages as vaccine mandates come due (ottawa.citynews.ca)

————
————
Dolce – some science to chew on. Testing. 1.2.3. Testing.

https://news.yahoo.com/pfizer-vaccinate-entire-brazilian-city-173839452.html
“Pfizer will vaccinate everyone over age 12 in the Brazilian city of Toledo as part of a study measuring the safety and effectiveness of its COVID-19 vaccine, Reuters reports.”

https://www.medrxiv.org/content/10.1101/2021.08.19.21262139v1
” Fully vaccinated were more likely than unvaccinated persons to be infected by variants carrying mutations associated with decreased antibody neutralization (L452R, L452Q, E484K, and/or F490S) (78% versus 48%, p = 1.96e-08), but not by those associated with increased infectivity (L452R and/or N501Y) (85% versus 77%, p = 0.092). Differences in viral loads were non-significant between unvaccinated and fully vaccinated persons overall (p = 0.99″

……….

https://www.reuters.com/business/healthcare-pharmaceuticals/delta-does-not-appear-make-children-sicker-secondary-immune-response-stronger-2021-10-08
Delta variant does not appear to make children sicker
” In both groups, half of the children were sick for no more than five days. The researchers lacked information on differences between the groups that might have influenced the results, such as whether lockdowns were in place, and the effects of different seasons. “Our data suggest that clinical characteristics of COVID-19 due to the Delta variant in children are broadly similar to COVID-19 due to other variants,” the researchers concluded. That appears to jibe with data reported by the U.S. Centers for Disease Control and Prevention (CDC)”

——–

#80 Felix on 10.11.21 at 10:41 am

Don’t be fearful. A dog falling down the stairs could actually be very positive for your pitiful human life.

A cat would simply walk nimbly and intelligently down the railing.

#81 Jonathan on 10.11.21 at 10:42 am

Nonno Nicola on 10.11.21 at 7:24 am

#57 Sail Away

Lovely Lake Michigan is not exclusively Michigan’s. There’s a province called Ontario that has half of it. Places like Thunder Bay and Sault Ste.Marie grace its shores.

Failed Canadian school system on full display. Either that or you enjoy embarrassing yourself on social media

#82 Dogman01 on 10.11.21 at 10:57 am

#74 crowdedelevatorfartz on 10.11.21 at 9:50 am

The “News” hour has become our nanny.
Gobbels News Hour

—————————————–
I read the Economist online from the Library, Garth’s Blog, a smattering of BNN, peer into a few other online sources to dig a bit deeper into important\interesting issues. Aljazeera.com for seemingly less biased international events.

Local news we watch occasionally to observe which content they select to broadcast, this gives you some insight on the collective narrative that is being promoted. All the Local News has the same set of recurring themes that have very little Local relevance. Even the very few Local stories selected to conform to one of the themes. Each story forces on an very emotional aspect delivered by an earnest narrator. Farthest thing from Journalism you could get.
Climate Change
Covid Fear – seems to be all Parents\Teachers\School stuff recently, trot out a random overly emoting Doctor from time to time.
Promoting a hate\distain for any Covid Non Compliance,
Miscellaneous Aboriginal Stuff, usually nothing local
Lately they seemed to have dropped most of the BIPOC and [email protected] themes for some reason.

I get that they have no local reporters and no budgets for such work but more than 75% of the content have zero connection to the City I am in.

The recent ubiquitous campaign earnestly concerned with what you should do with unvaccinated relatives at Thanksgiving was insightful….shun them.

I never quite understood that “the Medium is the Message” , but I only watch Canadian broadcast news to follow what the programming direction is.

Gobbels News Hour indeed.

#83 WTF on 10.11.21 at 11:07 am

#34 “A math fail, you have to deduct expired student and temporary work permits. Many of the new permits may have been issued to those with expiring permits and sure some people with expired permits left. Seriously, you posted this?
—————————————————————–

As already indicated, this is the government’s data, if you have a bone to pick with the “failure of math” perhaps start there. Or better yet, enlighten us with your divine knowledge? As opposed to sanctimony….

The point you missed entirely is the oversized impact on specific locations.

Try and keep up.

#84 Dr V on 10.11.21 at 11:10 am

70 Nonno

Are You suffering from “Dolce geography”?

#85 Patrick Moonshine on 10.11.21 at 11:20 am

“It’s the job of the CB to say that inflation is transitory” laughed Tiff.

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

In conversation with the adults Tiff was forced to ‘deflect’ direct questions and ask to be allowed to lie to Canadians who he referred to as ” unable to understand English.

Your Central Bank governor Tiff Meklen is a clown on a string.

#86 Philco on 10.11.21 at 11:27 am

#74 crowdedelevatorfartz on 10.11.21 at 9:50 am
——————————–
I turn on the news once in a while to see the buffoonery.
That along with and guided by the government are both fauilures.
They have placed us in a nany state with oversite and controls abound.
After running multipule buisness over 35 years it gotten discusting. Blaming the successful ones for the failures of others, so they must pay up.
Happy Turkey to all the honest hard working. I will leave the others out.

#87 Nonno Nicola on 10.11.21 at 11:27 am

#72 Do We Have All the Facts

Are those 14 year marriages, fixed term or variable rate?

#88 Damifino on 10.11.21 at 11:50 am

#74 crowdedelevatorfartz

The “News” hour has become our nanny.
———————————

Absolutely!

I now only watch Global News Vancouver when Kasia Bodurka is doing the weather. Of course, Yvonne and Kristi are lovely too, but Kasia seems like a real sport to me. Probably lots of fun at parties.

So much for the weather which is always professional and accurate. The news itself though is largely rubbish and hardly worth the time anymore.

#89 $250 Oil Per Barrel Needed on 10.11.21 at 11:59 am

We need $250 an oil US per barrel so it will be so cost prohibitive for manufacturing and producing goods overseas like the big job sucking economy from US, Canada, Europe. This will bolster local, regional economies and make countries stronger, more energy efficient and less environmental impact worldwide.

Also, you are not supporting the biggest communist government in the world, China. For those that say costs, prices will rise 20%, 30%+ on many goods, products manufactured locally, regionally, it is already happening with Trudeau, Biden, Liberals, Democrats and European Union carbon taxes, carbon pricing, energy taxes and other higher taxes, central bank inflation induced money printing, QE, bond buying.

The left, liberals, democrats, labour party, green party, socialists, marxists, progressives are already pushing up inflation, prices, cost of living much higher than normal inflation yearly rates but without the benefits of the tens of millions of jobs we would see in North America, Europe and other countries making their economies, countries stronger and more self sufficient and energy efficient.

#90 Shawn Allen on 10.11.21 at 12:02 pm

$2.00 a liter gasoline?

Committed environmentalists should cheer this.

$2.00 a liter gasoline in Quebec and B.C. is going to look like poetic justice to a lot of people in Alberta.

It will badly affect some people including a lot of Albertans. But a lot of people are driving very little. And Alberta’s royalty revenue and income tax revenue will soar and is soaring.

There are always winners and losers in these matters.

#91 Philco on 10.11.21 at 12:05 pm

Why are children and governments simular?
They both like blowing bubbles

#92 crowdedelevatorfartz on 10.11.21 at 12:06 pm

One wonders when the Liberals endless “National Diversity” indoctrination will be crushed by the self same Liberals ……..National Debt

#93 NEWS on 10.11.21 at 12:11 pm

NEWS=NOTHING EVER WORTH SEEING

#94 Earl on 10.11.21 at 12:22 pm

If you think just because your vaccinated you are going to be helped much in the hospital or similar healthcare settings, good luck to you. last week I read, Biden called a hospital in the US about how his friend could not get medical care. I knew that once things get really bad in the faltering medical systems everywhere even before covid because of massive increase in administration, duplication, bureaucracy instead of patience care, I could not rely on others to help me. It is all a fallacy. Just like your own health, money, family in your own life, nobody else really cares more and takes care more of them, that then yourself. It is all a delusion people have been living and believing for all their lives. If you have a serious illness, disease, most likely, you are toast, game over anyway. Sorry but reality bites.

#95 Shawn Allen on 10.11.21 at 12:34 pm

Marriages especially those that end in divorce?

#87 Nonno Nicola on 10.11.21 at 11:27 am
#72 Do We Have All the Facts

Are those 14 year marriages, fixed term or variable rate?

********************************
The level of interest and other benefits has often been known to decline over the term. (Present company excepted of course.)

#96 Bye Bye on 10.11.21 at 12:36 pm

Protecting the Canadian people, it that really their concern? Who is going to protect Canada from the Liberals Tudeau, Freeland, Morneau, NDP Jameet Singh and other leftists, socialists, marxists from Canada reaching a $3 to $4 trillion national Canada debt in the next 5 years. The end game when this happens is massive debts, deficits, inflation going sky high, more and more food banks will eventually close due to spiking energy, delivery, food prices, costs, rents going up 30% to 35% over the next 5 years, food shortages, poorer quality foods, higher taxes from carbon taxes, HST, GST, dividend, capital taxes increases and many more higher taxes of all types, higher poverty, higher crime, 20%+ unemployment rates, some areas 35% unemployment rates, real estate crash of 30% to 40%, Rosenberg hint, hint. Energy poverty is the least of our problems.

This is just Federally, Ontario, if we get Liberal, NDP, then the 15 years of McGuinty, Wynee Liberals will look like paradise compared to the next 5 years and what about others provinces too. It is going to be a very ruinous time for Canada.

#97 cramar on 10.11.21 at 12:58 pm

It is not just the big smoke that is getting a resurgence. It is in most urban cities downtowns, not just the burbs. Windsor and Detroit both have big plans for urban revitalization. Urban is going to be where it is at in the next couple years. People want to do live concerts, theatre, sporting events, restaurants, after a prolonged lockdown. I see nothing good for the burbs, especially with long congested commutes and inflated gas prices.

#98 Fredo on 10.11.21 at 1:21 pm

Good point Shawn Allen about $2.00 a liter gas but it is really low end of where prices go. We are going to see $2.50 to $3.00 a liter gas in the next 18 months. You can thank the US energy policy, Biden, Democrats, AOC and company. If I was Alberta, I would sell less oil and let the rest of the provinces get their oil, gas from where they are getting it now. Obviously, they don’t care now why would they later. They can suck up the debs, deficits more and rely on Trudeau, Freeland economic and fiscal train wreck policies to bail them out. Pay less now or pay alot more later. People think government solves their problems but really they just make them worse and worse.

#99 Don Guillermo on 10.11.21 at 1:24 pm

Trying to Reason With Hurricane Season
Jimmy Buffett – A1A

https://www.nhc.noaa.gov/refresh/graphics_ep1+shtml/151445.shtml?tswind120#contents

#100 Shawn Allen on 10.11.21 at 1:25 pm

Free Trade?

Strong, confident countries and people welcome it.

Weak, fearful countries and declining empires and people run from it.

#101 Basic Economics on 10.11.21 at 1:28 pm

Nonno Niccola, there is problem with making your own bread, you need flour, water, yeast, salt, other ingredients if more falvour needed, ebergy heat from stove, oven. These all cost money, guess what, if they are 100% to 1000% higher, you still are poorer and have less bread than just 6 months to 1 year ago. You can’t escape Liberal, socialists ruinous economics. Basic economics is so hard for Liberals to comprehend, grasp and wrap their minds around.

#102 Diamond Dog on 10.11.21 at 1:36 pm

#77 Joe on 10.11.21 at 10:29 am

The stock market can go to the moon based on nothing but CB stimulus but real estate is going down when it’s being heavily pumped by the government? Your bias is loud and clear. – Joe

That’s not true. Stock markets still need earnings, revenue and hopium/innovation i.e. speculation to pop, not to mention little things like peace and systemic virtues to some degree (a fair system) instilled in regulations and the rule of law that we all take for granted. Real estate is controlled by much more than interest rates i.e. supply/demand, rental incomes, govy regulations, affordability and little things we also take for granted that Garth has alluded to like emotion.

Since you brought up the context of bias, in general, folks come up with fallacies or wrong conclusions because of cognitive bias:

https://en.wikipedia.org/wiki/Cognitive_bias

Of which there is a long list:

https://en.wikipedia.org/wiki/List_of_cognitive_biases

I see for example confirmation bias, egocentric bias & truthiness bias from your statement, but this only tells part of the story. What is it that is feeds one’s blind spot? Is it binary thinking for example, reductive duality thinking?

The product of a lazy mind that wants to narrow everything down to just 2 distinct choices such as black or white, all good or all bad, no shades of gray, no in 3rd, 5th and 10th choices or a blend of answers we don’t want to examine because our twitter conditioned mind can’t handle more than 1 or 2 cookie cut answers at a time?

Or is it more hidden than mental laziness, a lack of one or more virtues (don’t sweat it, well, not too much anyway, none of us are perfect) that would motivate someone to, heavy on oversimplification and bias’s of one’s own, accuse or label someone else as bias to feed one’s own superior/inferior motives/beliefs from the missing virtue of equality which, if I may offer, comes across as redundant, boring and banal… ?

In summary, did I get fallacies and bias driven conclusions based on your comment driven by 3 suspect missing virtues? (The virtues of equality, truth & compassion. Truth, because it’s obvious that what you said wasn’t true and equality & compassion because you were far too quick to voice criticism based on said fallacies) I did. And, I decided to pick it apart for everyone’s benefit including your own.

Some quick advice, be careful with your criticisms Joe and be mindful, for a lack of virtue is at the root of cognitive bias and sets one up for bad decisions that lead ultimately to failure and loss.

#103 Dan on 10.11.21 at 1:45 pm

Shawn Allen, we don’t have a fair, free trade with China. China’s communist government trying to say their capitalists for decades now but they are not have been screwing the world in trade big time. This is true with the US especially for them. Obama did the US major trade deficits and budget deficits with huge damage from China’s favoured trade deals one sided, best for them.

#104 Darryl on 10.11.21 at 2:04 pm

2022 will be a recession. Interest rates will rise crushing the housing and stock market. Those who purchased recently will either have to pay their mortgage or default but won’t see the price they purchased for again soon. Small businesses will close once government benefits dry up. Government will be forced to cut spending and raise taxes killing economic growth. In the short term we will continue to see inflation, followed by a crash as consumers reject pricing and than deflation. Nobody is returning to the office soon and the pandemic will still be around during the provincial election in June. At some point we will have to live with the virus but part of that will be WFH. Some companies (banks, law firms) will try and bring back workers to the office but many will be spending their time on LinkedIN trying to find another job for either more pay or more flexibility. Companies will also have to pay more in wages to motivate people to work in the face of a rising cost of living.

#105 Dogman01 on 10.11.21 at 2:33 pm

#100 Shawn Allen on 10.11.21 at 1:25 pm

Free Trade and globalization has been a disaster for working people in Canada.

https://www.youtube.com/watch?v=4PQrz8F0dBI

Great benefit to those living in what were really bad economies, but a wholesale disaster for the working class in the developed economies.

Strong Powerful jobs traded for cheap plastic junk and massive increase in wealth(power) disparity.

#106 Chalkie on 10.11.21 at 2:37 pm

Rip offs are happening at rappit rates, contractors no longer working by the hour, why should they when they can throw a $number at us at 3 or 4 times our cost from just a short year ago, “ho”how times have changed. It’s called ( take what you can, the suckers will pay).
Just keep in mind, those rip off contractors will be begging at your door again in short order, “good times don’t last forever “. There is so much work out there, the contractors are no longer even returning phone calls, all this is adding to your wicked Real Estate cost.

#107 DON on 10.11.21 at 2:59 pm

“…The product of a lazy mind that wants to narrow everything down to just 2 distinct choices such as black or white, all good or all bad, no shades of gray, no in 3rd, 5th and 10th choices or a blend of answers we don’t want to examine because our twitter conditioned mind can’t handle…”

As Diamond Dog stated above…my reason not to watch local news stations. If a cat goes up a tree and I need to know about it…I turn on the local news.

Some local news is good but mostly in print form. Like the following where the Town of Qualicum beach wants to raise taxes 2.5 % for reasons of inflation and 1% for capital projects. Lots of stories out there regarding cost over runs for municipal projects. Belt tightening on the way.

#108 Jann on 10.11.21 at 3:11 pm

Darryl, I hope so. I would like my GTA home worth $800,000 be worth $400,000. It is not an investment to us, just a place to live and an asset to sell if we want or need to. This way all levels of governments lose tax revenues and younger Canadians can have a chance for a place to live with affordable mortgage payments.

#109 Haas Say Yhoo on 10.11.21 at 3:17 pm

I was reading about pensions and now cannot find it. I have a question. If F is receiving much more than a living wage as retirement, and we poor slobs are going to be living in the poor bin in the not to distant future, how many people are living a handsome life on the Canadian taxpayers dime as you describe? And who has the right to continue to profit on the backs of working Canadians. People keep talking about Canada being a Socialist Country. Why is it Canada cannot take a good look at the Platform of Norway and learn how they can afford to provide pensions with out problems. Anyong

#110 Greg on 10.11.21 at 5:07 pm

Haas Say Yhoo, I think it is because Norway is a small population, 6 maybe 7 million last time I checked and Canada is almost 40 million. It is harder to provide higher and higher benefits, pensions to all Canadians or a big portion of Canadians when only 30% to 40% are paying all or most of the taxes in Canada. You get like now, the government and central banks printing money, big increases in debt, deficits and we get alot more inflation, tax increases, cost of living. Alot of businesses close, fail or move away and this causes more problems financially with more Canadians and the 3 levels of government in Canada. Basically a much harder life for modest to middle, upper middle income Canadians.

#111 Haas Say Yhoo on 10.11.21 at 6:02 pm

#110 Greg. My question was how many people in Canada are receiving Government pensions from holding down
Government Positions for 4 years or more? Many! Population does not have anything to do with anything. It is the way the Government decides who is worthy of a living pension in Canada. When retired people cannot purchase healthy food then they in up in hospital. Just look at the amount of money afforded to people at this present time, who want to purchase a house. Retired people in this country have not been considered at all during this pandemic. Who lives on $2,000 a month I ask?

#112 don't shoot the messenger on 10.11.21 at 8:03 pm

Haas Say Yhoo, so why doesn’t China’s 1.4 billion live very well on government pensions or India with 1 billion in population have great government pensions living well. Numbers matter, it is harder to support more people without the money become more worthless, devalued, inflation and taxes are the wicked destroyers of people’s money and livelihood. Socialism and communism never works for the better of society just the powerful in charge.

#113 Philcc on 10.12.21 at 1:23 pm

The gov has no brains or restraint.
Presenting themselves as the solution ALWAYs, are the problem ALWAYs. They see no problem at any level of debt.

And for TurnerNation.
The climate crisis scam…is all about control along with your new passport.
Convesation at the table last night…how passively stupid Kanukle heads are. They gobble everything up yum yum like turkey.
Pop quiz Who pays the most carbon tax on earth? We do.
Who has the most trees and clean air in city centres? We do.
Its all a scam for more taxes, reducing freedoms and movement.
BUILD BACK BETTER. Sure

#114 Philco on 10.12.21 at 1:24 pm

The link https://thehill.com/opinion/energy-environment/576197-code-red-for-humanity-more-like-a-false-alarm

#115 Danny on 10.12.21 at 3:13 pm

Philcc, you are so right. Too much government jobs being created and nanny state laws, policies been put forward. I cry for future generations of what is left of them.