The sham

Can you make real estate cheaper, fairer, by taxing it more?

In Canada the answer’s a resounding, ‘You betcha’, which is truly a shame. Especially now. In the wake of what just arrived.

To recap, we tax under-utilized homes in Vancouver and soon Toronto. There’s a national tax on foreign-based buyers. There’s a huge tax on non-resident owners in the GTA and the Lower Mainland. There’s a federal flipper-speculator-renovator tax coming for ownership under 12 months. There’s a spec tax aimed at Albertans in BC. Now NS is bringing in a surtax on property owners who also have homes elsewhere. Plus there are land transfer taxes that in some places (Toronto) routinely add $60,000 or more to average transactions. HST is applied to all real estate commissions.

And exactly none of this has dampened house prices, made buying a home more affordable, increased listings, encouraged renters to become owners or flattened sales.

Taxing something does not make it cheaper. The opposite.

So what are we to make of this week’s new tax proposal by the leftie academics at Generation Squeeze, backed (apparently) by the federal housing agency, CMHC? It’s a corker.

Just as Ottawa is considering what to do to keep the Millennials voting Liberal, this moister tax suggests that every family owning a property in Canada worth $1 million or more should be paying a wealth tax based on the market value of that real estate. “A progressive surtax,” it’s labelled, equal to as much as 1% of current value, on some kind of sliding scale.  Low-income folks (like seniors on fixed incomes unable to pay this toll) would have it deferred – plus interest at ‘market rates’ – until the property is sold or passed on to unsuspecting heirs.

The rationale: “The proposed annual surtax will reduce the tax shelter that incentivizes Canadians to rely more on rising home prices as a strategy for savings and wealth accumulation than they otherwise would.”

While the Squeezers say this would apply to “only 9%” of households in Canada, including 13% of all homes in Ontario and 21% in BC, the revenue grab is significant. For example, the average detached home in Vancouver is currently worth $1,910,200. So, this ‘progressive’ tax would come in addition to property tax, and regardless of how much mortgage financing might be in place. In other words, it would be less progressive and hugely regressive for those young buyers already shouldering a mama of a home loan.

In fact the amount raised by this is estimated to be $4.5 to $6 billion a year. Do the math. 10.25 million households in Canada x 69% homeownership rate = 7 million owners x 13% = 919,400 families/$5 billion = $5,400 in average tax. And this five billion (or so) would then be spent by government in subsidizing others, like renters.

The appeal of this policy for the Squeeziologists and the politicians they support: it’s simple. It’s quick. It’s based on municipal assessments or that oh-so-handy real estate transaction self-assessment which is now a part of annual tax returns. (I told ya when it started this would happen.) It’s progressive (which means other people pay it). It increases revenues annually as house prices inflate. It’s anti-Boomer. It doesn’t involve building anything. It keeps Jagmeet quiet. And it’s so much easier that addressing the root causes of house inflation – like monetary policy, CMHC insurance, the PR tax exemption and political diddling that increases demand (like the RRSP buyer’s plan, shared-equity mortgage, newbie tax credits, municipal first-timer grants, enhanced high-leverage borrowing cap or the FHSA).

Now just imagine buying a kinda-but-not-exactly sweet house in Toronto for $2 million. The land transfer tax is $72,950. Annual property taxes are about a grand a month. The Squeezy tax would be an extra thousands each year. And you still need to come up with two million.

So, would any of this make it easier for a 32-year-old couple to acquire a home in Windsor, Regina or Kamloops? Or Kits or Leaside? Anywhere?

Of course not. This week we heard of booming sales/prices in YVR despite the stiff anti-foreigner tax and withering new vacant-home levy. In Toronto December was off that charts, even with the Golden Horseshoe toll on non-locals and the looming Toronto hit for part-time residents. You can rest assured the federal tax on non-Canadian buyers and the whacking of people who sell within 12 months of buying will have a similar effect. Crickets.

Penalizing real estate in this way has been a policy failure. A sham. It’s political theatre and the kiddos are naïve fools for falling for it.

It’s just tax.

About the picture: “Happy New Year.  Long time reader of your blog, and my wife and I are very grateful for helping to guide our financial future,” writes Brad in southern Alberta. “I thought I’d send you another photo (last one didn’t get published) of another one of the lions we keep in our house.  This is Zeus, a beautiful and beloved orange Tabby, a rescue who was found wandering the mean streets of Taber, Alberta.  We named his Zeus because he’s fast as lightening, and he also believes he’s the King of the Gods – or at least the King of the Humans in the house!”

216 comments ↓

#1 BlogDog123 on 01.05.22 at 3:38 pm

The answer is build, build, build. Silence those NIMBYs and just keep the homes going up. You keep hearing in the news prices going up and supply is very tight.

When you flood enough homes squeezed 3 to a lot, then the supply demand ratios change and the Moisters can finally purchase a small tall home on a tiny lot…

#2 David Pylyp on 01.05.22 at 3:39 pm

Spot on….

Damaging to seniors net worth and will not slow prices.

David Pylyp
Toronto

#3 Dave on 01.05.22 at 3:42 pm

Everyone in Canada knows that the only solution to the housing crisis is hiking interest rates?

Does the BOC and elite know this….Yes.

Inflation is transitory…..hahaahha

Every time the hike looks to be in sight…..somehow something always delays it!!!

#4 Habitt on 01.05.22 at 3:45 pm

Buyers in Regina and lots of places don’t need any incentives. It’s about to and van where the votes are. Nuff said.

#5 Yukon Elvis on 01.05.22 at 3:48 pm

The benchmark price for a single-family home in the Central Okanagan has hit seven figures.

In statistics released Wednesday, the Association of Interior Realtors revealed that the benchmark price for a single-family home in the Central Okanagan reached a whopping $1,009,400 in December. To put that in perspective, the benchmark price, which represents a dwelling with “typical attributes” to those traded in the area, was only $692,800 in August 2020.

There was also a record number of sales in the region last month.

https://www.castanet.net/news/Kelowna/356142/Central-Okanagan-single-family-home-benchmark-price-hits-1M#356142

#6 Armpit on 01.05.22 at 3:55 pm

Fear mongering???

#7 Prince Polo on 01.05.22 at 3:56 pm

I can’t wait for $5M average housing prices in this great country. Anything less is pure failure (what I’m lead to believe by shyster politicians & realtors).
Let’s tax all governments that don’t balance annual budgets.

#8 Adam on 01.05.22 at 3:59 pm

Not that it makes a difference, but surely the 1% tax would not be on the entire amount – only the amount over $1 million, I would think. So a 2 million dollar home would be taxed $10k, not $20k.

#9 Tom on 01.05.22 at 4:00 pm

None of this has dampened housing prices because the taxes are a joke. If someone had to pay 20% tax to own a second home that they have for speculation then they would think twice about going this route. So it comes down to whether housing is a right for tax paying Canadians or is it nothing more than a financial vehicle.

#10 cramar on 01.05.22 at 4:00 pm

Maybe THIS will get more people to move to the prairie provinces or NB where there is affordable housing.

Nah! Young people are entitled to affordable housing in the country’s most expensive housing markets. It is their right!

#11 WEXIT on 01.05.22 at 4:01 pm

Squeezy tax would be a reason to move out of Canada.

#12 YVRTechGuy on 01.05.22 at 4:04 pm

Actually you’re wrong on one point there Garth – you can make stuff cheaper by taxing it.

Car gasoline is actually significantly cheaper in Canada (the underlying commodity) than it is in the US, simply because it’s taxed much higher in Canada – even though the pump price is higher.

#13 Sam on 01.05.22 at 4:06 pm

am i first?

#14 Another Deckchair on 01.05.22 at 4:08 pm

Garth – figured it out.

Ok – here goes.

1) Listened to Spark on CBC today, and they were interviewing someone from Utrecht Uni, about mental concentration.

2) Near the end of my time as a Fed. Public Servant, “Workplace 2.0” was coming in. Down at 235 Queen in Ottawa, it was called “whack-a-mole” because of the hundreds of heads bobbing around above the cubicle walls.

3) The place was noisy. Disruptive. Easier to yell a question over the partitions, or go and talk directly to someone – and that someone and those around were interrupted. Constantly. Nowhere to go where it was truly quiet and without distractions; even “quiet rooms” had floor to ceiling glass walls, doors that would not keep sound down, in corridors where people were constantly walking past. Managers “offices” too.

So, basically, impossible. Not a lot of “deep thought” coming out of Ottawa. Many are very capable but the environment is not conductive to discovering the root causes of issues and thus provide programs that are well thought out.

#15 I own 2 properties on 01.05.22 at 4:08 pm

Should I sell the one I rent out to people below market rate to a slime bag realtor who will kick them out, jack up the rent and make renting unaffordable?

This is nuts

#16 Nonplused on 01.05.22 at 4:11 pm

“So what are we to make of this week’s new tax proposal by the leftie academics at Generation Squeeze, backed (apparently) by the federal housing agency, CMHC? It’s a corker.

Just as Ottawa is considering what to do to keep the Millennials voting Liberal, this moister tax suggests that every family owning a property in Canada worth $1 million or more should be paying a wealth tax based on the market value of that real estate. “A progressive surtax,” it’s labelled, equal to 1% of current value.”

————————————–

Well, it just goes to show that when you pay idiots to say things, say things they will. Idiot things.

Anyway it won’t work because houses are not money, so this tax will have to come out of money that would otherwise fund other parts of the economy. We are at peak tax. No further revenues can be raised by tinkering with tax rates or introducing new taxes aimed at certain political scapegoats. From here on in, all of the tax adjustments are political, aimed at “equity” whatever that means. There is nothing economic or monetary about it. It won’t raise any revenue that isn’t offset somewhere else. But it isn’t meant to. It is meant to punish the people Trudeau’s voters want punished.

There is a reason why jealousy is one of the seven deadly sins and also makes the top ten commandments. It leads to lawlessness and ruin. It first destroys the jealous, and they then, having lost their minds except for a river of hate, go on to destroy everything else.

#17 Søren Angst on 01.05.22 at 4:11 pm

The crux of their argument is in this graphic I had to blow up and view 1/9 of it at a time…

https://d3n8a8pro7vhmx.cloudfront.net/gensqueeze/pages/6404/attachments/original/1639773516/Taxes_Final_Graphic.png?1639773516

Looking for what they will do with the money (left, bottom 1/9th). Reads an afterthought by them.

Their idea is to tax people heavily that live in a luxurious home so they will have to sell, e.g.,

“$3M –> Top 1% of homes –> $13,500”

Presumably the top 1% own those homes and likely can afford the $23.5K.

$1.1M pays $100 they say.

————————-

Will not work. Peanuts Penalty to the wealthy.

Instead have:

1. PR tax like Capital Gains,
2. Lower GDS/TDS %’s,
3. Increase downpayment amounts, and
3. Get rid of CMHC as their insurance lets the Banks lend recklessly with impunity.

Also, get rid of all other Gov taxes other than those to register ownership etc.

#18 Kilt on 01.05.22 at 4:11 pm

Well, it would definitely push up demand in the sub million dollar home range. Once again you would likely see double digit gains for home in the $700 to $900K range.
I think they would be better off making it something that scales. 0.33% for 500k to 1 mil. 0.66% for 1-2 mil. 1% for 2-5 mil. 10% for politicians and 5 mil and up homes. :)

Kilt.

#19 AM in MN on 01.05.22 at 4:11 pm

Going to be taxes like this or something similar going forward. Residential RE is the only stash of wealth that is big enough to help pay for the debt and ongoing welfare state costs.

You can’t take it offshore or hide it in other ways. If you own RE, get ready to pay.

#20 leebow on 01.05.22 at 4:13 pm

I was told using the R word is not acceptable anymore. I’ll use the S-word which is only half as bad.

Those semi-retards are unbelievable. Make banks carry at least part of the mortgage risk. Problem solved once and forever.

#21 A01 on 01.05.22 at 4:15 pm

Time to move. My job is remote I don’t need to be in Toronto or Canada for that matter. The tax on my house would pay for a good international school. How about we take a look at the vote buying, er I mean spending choices.

#22 Lee on 01.05.22 at 4:16 pm

It’ll never happen. Any why yearly – isn’t wealth supposed to be taxed once – when you die?

#23 Sail Away on 01.05.22 at 4:17 pm

Well, one could buy a $2M home in the GTA… or, alternatively, buy this cute South Dakota place for the cost of the transfer tax:

https://www.point2homes.com/US/Home-For-Sale/SD/Huron/528-Beach-Ave-SE/115766601.html

#24 ogdoad on 01.05.22 at 4:19 pm

Ahh fiction. If T2 just came out and said “Leute, give up. You’ll never afford a home. Be happy renting like the rest of the losers”. He’d be out so fast it’d make your head spin. Instead, the lemmings suck it up as if they have been promised passage through the pearly gates and an eternity of virgins when they croak (that’s why I voted, btw. I pay homage with hugs).

Question is, to the future GreaterFools: Is the narrative going to match the experience? Highly doubt it.

Og

#25 McSteve on 01.05.22 at 4:19 pm

Every house in the GTA – and any medium-sized town in southern Ontario for that matter – is over $1 million. Kiss the rest of your base goodbye, Prime Minister.

#26 Ok, Doomer on 01.05.22 at 4:20 pm

Chicago has some of the highest property taxes in the US, and the proposed tax would be just another property tax. In Chicago, RE prices are incredibly cheap, so yes these taxes will drive the price of RE down.

The bad news is that affordability will still be outrageous, as these taxes will never drop, only increase. The Chicago Experiment shows that smart capital will flee and only those (ie. the poor) will remain locked in and unable to move. To them, the taxes become soul-destroying and poverty creating burdens.

Chicago tried it and it was, and still is, an unmitigated disaster. But examples of abject failure will not dampen the Trudeau spirit; drama teachers always know better than anyone else, so lead on McDumb.

#27 Sail Away on 01.05.22 at 4:22 pm

Huron, South Dakota

Home of the World’s Largest Pheasant. Important visitor information as follows:

https://www.roadsideamerica.com/tip/1186

#28 Polozified on 01.05.22 at 4:24 pm

Taxing houses like cigarettes doesn’t have the same effect because houses aren’t cigarettes.

Generally people don’t set their houses on fire to relax.

#29 mike from mtl on 01.05.22 at 4:24 pm

Well guess this is the federals way to get some of that sweet taxes off RE which mostly go to the municipalities.

Short term this might force some sales of granny holding the winning lotto ticket. But long term probably won’t do much to prices and the real issues as we all are aware.

That big mamma of a dept pile amassed since the reign of T2.. not much else ‘wealth’ left to tax.

#30 Peter Laurin on 01.05.22 at 4:25 pm

Garth what if a family owns a cottage and a home, with both valued at $1 million dollars or more. Will they have to pay a wealth tax on both the cottage and their primary residence?? Thank you for your time and effort keeping us canucks in the loop wrt federal policy changes!!

#31 millmech on 01.05.22 at 4:26 pm

Faron,
In regards to GME,you recommend me selling my TD holdings because the price has gone down even though I still collect premium(dividends). This seems to be your thesis if I am understanding you correctly.
Regards MM

#32 IHCTD9 on 01.05.22 at 4:26 pm

Nothing is getting fixed until Covid ends, and the housing bubble blows a mile high. Trudeau is a fish flopping around on the riverbank. Save those nickels kids, you’re going to have a big bill to pay.

#33 wallflower on 01.05.22 at 4:28 pm

Given our collective inability to budget, or balance budgets, or produce budgets that do not enslave future generations, asset-based taxes are coming. Period.

And, asset-based qualifiers for things like ODSP, OAS, and others should have always been in place.
(I know a dude on ODSP with two one-million dollar homes fully paid for. And, I foresee half a dozen Canadians I know going into the GIS stream with multiple fully paid for properties. Is this what we meant when we developed these programs? That they are for the asset rich?)

#34 Spiderman on 01.05.22 at 4:29 pm

This progressive surtax will essentially cancel out the PR tax exemption subsidy on expensive homes. A better policy is to just cap the PR exemption at something like $500k gains for a couple.

Of course, the real solution to the crisis is to greatly reduce restrictive zoning.

#35 Penny Henny on 01.05.22 at 4:36 pm

“Owners with homes valued between $1 million and $1.5 million would pay 0.2 per cent. The next bracket, up to $2 million, would pay 0.5 per cent. Anything over $2 million owes one per cent.”
“A $1.2 million home would owe $400 a year and a $1.5 million home would pay $1,000 a year. ”

https://ca.finance.yahoo.com/news/cmhc-funded-report-proposes-million-dollar-home-surtax-181720935.html

#36 Penny Henny on 01.05.22 at 4:38 pm

It would appear that the proposal would only apply to the value of the home which is beyond $1 million.

#37 OK, Doomer on 01.05.22 at 4:42 pm

#28 Polozified on 01.05.22 at 4:24 pm
Taxing houses like cigarettes doesn’t have the same effect because houses aren’t cigarettes.

Generally people don’t set their houses on fire to relax.
________________________________________

And that’s when I coughed up my snootful of Chivas :)

#38 SW on 01.05.22 at 4:45 pm

Poor Zeus! The worry of the state of Canada’s economy and the real estate situation has turned an orange tabby quite white from shock!

#39 Søren Angst on 01.05.22 at 4:47 pm

A lot of angst about unvaxd and some believe leaders like Trudeau, Biden, Macron and Scholz being unfair for example (histrionic, use the word “genocide”):

https://twitter.com/CJCharchuk/status/1478570706476548101

Meanwhile, under the radar, Italia does this *:

“From 15 February, over 50 [age] vaccines are mandatory”

https://www.rainews.it/articoli/2022/01/dl-covid-ok-allunanimit-arriva-la-stretta-sul-vaccino-agli-over-50-9d16e3ea-eec9-4220-909a-13c25c4a5005.html

And why they did it:

“72% of those hospitalized for Covid in intensive care are no vax”

https://www.fanpage.it/attualita/il-72-dei-ricoverati-per-covid-in-terapia-intensiva-e-no-vax-i-dati-aggiornati-di-fiaso/

——————-

Good, about time.

Now watch staged performances for the World’s MSM of Nonna being dragged out of her house to get vaxd or a Carabinieri, Polizia led Vax Hit Team come to her place, tie her down and jab her.

There are about 2.2 million over 50 no vax in Italia.

* You have to love Mario Draghi. Quietly does his thing, takes no heat while the big mouths in Canada, US, France and Germany get all the dung flung upon them instead for doing nothing. Sly guy.

Punish the innocent, promote the guilty.

It’s a crazy messed World.

#40 Observer on 01.05.22 at 4:48 pm

.2% for houses worth 1 million, not 1% ($2000, not $10,000)

“Owners with homes valued between $1 million and $1.5 million would pay 0.2 per cent. The next bracket, up to $2 million, would pay 0.5 per cent. Anything over $2 million owes one per cent. ”
https://ca.finance.yahoo.com/news/cmhc-funded-report-proposes-million-dollar-home-surtax-181720935.html

#41 None on 01.05.22 at 4:50 pm

You need to make houses more affordable by making them more expensive. I agree with it actually.

If carrying a house is too expensive and renting is substantially cheaper that will reduce demand to own thus reducing prices – possibly below the 1 million dollar amount.

#42 TurnerNation on 01.05.22 at 4:51 pm

Hmm Ontariowe. What another reset – in the dead of winter again? What they got planned for us this time – 4th Wave of Retail Bankruptcies? A take-down of the of Health Care and Education system?

From the independent & bombastic Member of ON Parliment:

.Randy Hillier @randyhillier
WATCH, new State of Emergency to be announced sometime after January 17, 2022. New vax mandate will diminish cross border shipments of food-necessities; widespread absenteeism due to covid+ cases will compound delays & shortages. Public Health & @fordnation know this. #onpoli
https://twitter.com/randyhillier/status/1478571039739289603

— A point from an Ontario ER doctor.

https://twitter.com/erdocAA/status/1478752107817840657
.ERdoc @erdocAA
Listen, hospital administrators are paid gobs of money, your money, actually, to manage the healthcare system. It’s not your job or my job or our kids’ job to manage ANY public service. Wake up, Ontario


—-
O Well we knew this, long ago.

#24 TurnerNation on 08.28.21 at 1:06 pm
Things which have the permanency in Kanada:

1. Fictional ‘State of Emergency’.
2. Flags at half mast
3. CV Rules. Always the rules Comrade

#43 X on 01.05.22 at 4:54 pm

Politicians don’t want to ‘fix’ house prices, they want to get re elected.

Lemme see, 10% down, and 25 yr amortizations worked before. Doing that again might just work, but would not help with re election.

#44 yvr_lurker on 01.05.22 at 4:54 pm

It seems like every month or so you rally the troops to take up arms over some ultra dumb proposal that will never come to pass. Even the liberals know they are dead in the water if they ever endorse this. I am highly doubtful that Chrystia will even implement the moderate
75% cap rate when the time comes. They will likely just print more $$$ and take in 500K+ immigrants to inflate their way out of the fiscal mess.

This wealth tax proposal is of the same extreme pedicree as proposals from the climate nutbars who want to mandate by law that every house in the land convert their natural gas furnances for heat pumps at the owner’s expense for around 15K.

https://thetyee.ca/News/2021/09/24/Phase-Out-Natural-Gas-Cities/

Neither is going to happen. Is it time for happy hour?

#45 CRAZYCANUKS on 01.05.22 at 4:55 pm

I can guaranty the tax believers one thing.

When the country finally takes 100% of your income, the governments will still be broke.

#46 Quintilian on 01.05.22 at 4:58 pm

If it is a bubble it will speed up the bursting.

If it is not a bubble, 20k a year tax, won’t be much of an issue to speculators in markets where pricing are increasing by several hundred thousand a year.

But the class divide will finally affect enough to power some political action.

This is a reflection of just how distorted is the RE market in most of Canada.

Headed for a meltdown.

#47 Editrix on 01.05.22 at 5:03 pm

I guess any tax increase on an investment condo would be added to the rent for the next tenant. One would think that that would force the cost of rents to go way up.

#48 OwlEyes on 01.05.22 at 5:04 pm

“Squeezy Tax”! I love it.

#49 dragonfly58 on 01.05.22 at 5:05 pm

Now that we are both retired that tax plus property tax would end up at something like 20 % – 25 % of our after tax income. For a very so – so Fraser Valley house in what was a cheap part of town when we bought 26 years ago. We paid a fraction of the current value , but no plans to ” cash in ” In fact anything else would cost just as much plus all the transaction costs. We are already in the cheapest SFD for many miles around.
And that would be just as nuts as our latest assessment, right about 1.5 million. If this place is actually worth that sort of $ then anything nice must be worth at least 3 or 4 Million.
So sell and move to Timbuktu or beyond , or stay put and be poverty stricken till the end ?
What about all the ” farms ” in my area . Just enough ” farm ” to meet the minimum requirement for farm tax status. But really a long term place to hide money. And yes, many have a absolutely huge , extended family dwelling. Many near me are more like an apartment block than a house , but pay very low taxes because of a sham farm set up. Has this Gov. truly lost it’s mind ?

#50 Anthony Cardillo on 01.05.22 at 5:11 pm

One way to reduce/control prices would be to keep speculators/investors out of the equation. Why are they allowed to purchase multiple properties?. Here in Toronto, Willowdale properties are purchased from abroad investors, and houses are kept empty. Just look if the grass is cut and the snow is removed. Buying houses in Willowdale is like putting money in the bank.

#51 crowdedelevatorfartz on 01.05.22 at 5:12 pm

One wonders how many ways the govt can relabel taxes and call them something else before the sheeple clue in that they’re being gouged…?

#52 Søren Angst on 01.05.22 at 5:12 pm

The World getting pretty hot under collar with the no vax.

“Novak Djokovic held overnight in airport upon arrival in Australia due to visa issue” *d

https://www.cbc.ca/sports/tennis/novak-djokovic-australian-open-exemption-1.6304580

Apparently the Locals pretty steamed that Mr. Medical Exemption from being vaccinated Djokovic gets to come to Australia to play and thus receives special treatment.

An earful for him by an Australian MP Minister:

https://twitter.com/JaalaPulford/status/1478701525937573891?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1478701527531352071%7Ctwgr%5E%7Ctwcon%5Es2_&ref_url=https%3A%2F%2Fwww.cbc.ca%2Fsports%2Ftennis%2Fnovak-djokovic-australian-open-exemption-1.6304580

————–

‘Atta go Oz.

* Some of the Locals observed their Gov making it up as they go along, yet, still glad for it.

#53 45north on 01.05.22 at 5:17 pm

Just as Ottawa is considering what to do to keep the Millennials voting Liberal, this moister tax suggests that every family owning a property in Canada worth $1 million or more should be paying a wealth tax based on the market value of that real estate. “A progressive surtax,” it’s labelled, equal to 1% of current value. Low-income folks (like seniors on fixed incomes unable to pay this toll) would have it deferred – plus interest at ‘market rates’ – until the property is sold or passed on to unsuspecting heirs.
The rationale: “The proposed annual surtax will reduce the tax shelter that incentivizes Canadians to rely more on rising home prices as a strategy for savings and wealth accumulation than they otherwise would.”

Whole neighbourhoods will rise up. Neighbourhood groups will go door-to-door collecting signatures, names, addresses and emails. There’ll be meetings at community centres. People’s homes. Home owners who have never gone to a political meeting will go. In Ottawa South where I live, few houses are worth $1 million. Running against this tax, would be a cake walk.

bring it

#54 Ok, Doomer on 01.05.22 at 5:20 pm

#39 Observer on 01.05.22 at 4:48 pm
.2% for houses worth 1 million, not 1% ($2000, not $10,000)

“Owners with homes valued between $1 million and $1.5 million would pay 0.2 per cent. The next bracket, up to $2 million, would pay 0.5 per cent. Anything over $2 million owes one per cent. ”
https://ca.finance.yahoo.com/news/cmhc-funded-report-proposes-million-dollar-home-surtax-181720935.html
++++++++++++++++++++++++++++

The articles says this but it may be wrong. Journalists are very poor at math. I can’t tell you how many times my wife and I watch the news and snort over the math mistakes reporters make. Journalists math skills are at the level of Dr. Evil’s request for “$ 1million billion jillion kazillion dollars”

Collecting a brand new tax of $500 on a $1million house hardly seems worthwhile. The set up and ongoing bureaucracy costs involved would likely eat up twice that amount.

Then again, numeric and financial illiteracy have yet to stop Trudeau. Some say that they are a pre-req to governance, not an impediment.

#55 Shawn on 01.05.22 at 5:20 pm

No Problem…

Just move to Alberta where your new built home will be under $1 million. And your income tax lower. And no provincial sales tax.

You’re welcome.

#56 Blobby on 01.05.22 at 5:21 pm

A part of me was kinda interested in getting a property soon.

But I live in BC, so wont be able to get anything for under $1m. And with that new tax, its just not worth bothering with.

I’ll carry on renting my $1.5m place instead.

#57 vanreal on 01.05.22 at 5:24 pm

Why is housing the only investment the government tries to depress the value. I’d love to see them say they were going to tax an investment portfolio of 1,000,000. They need to back off and let well enough alone. No one is guaranteed to own a place as long as they can rent one.

#58 Søren Angst on 01.05.22 at 5:27 pm

The Twitter Hive pretty busy now that Djokovic Denied.

#NovaxxDjocovid

& the more obvious:

#novaxdjokovic

There are some pretty funny vids about this produced by the Hive. Some real comedic talent out there.

Like this one…

https://twitter.com/MilaDjordjevi15/status/1478818072802824198

#59 Leftover on 01.05.22 at 5:33 pm

Hawked-out Fed minutes today, and 10-year treasury hit 1.71%.

Tinkering with taxes and “progressive” policies aren’t important; 5-year mortgages will hit 5% + in the next 12 months and that’ll squeeze actual cash flows, no matter the stress test.

#60 Economics 101 on 01.05.22 at 5:34 pm

The vast majority of the price increases in houses is just simple supply and demand. Millennials are buying and Boomers aren’t selling. Those are the two biggest cohorts. While low interest rates have certainly pulled forward demand, the demand is already there and growing. Millennials are having families; that’s the driver of home price inflation. Everything else is just noise.

#61 The West on 01.05.22 at 5:34 pm

I, for one, am dismayed that the vast majority of this country’s populace still sees Ottawa as the legitimate socioeconomic center of this vast landscape.

Things aren’t going to get better but, by all means, count the days until that next election.

#62 Sid on 01.05.22 at 5:35 pm

Another idea I’ve heard is not allowing HELOCs to be used to buy a second property. Any thoughts if that would make things any more affordable for those trying to get into the market?

#63 Nonplused on 01.05.22 at 5:35 pm

#8 Adam on 01.05.22 at 3:59 pm

Not that it makes a difference, but surely the 1% tax would not be on the entire amount – only the amount over $1 million, I would think. So a 2 million dollar home would be taxed $10k, not $20k.

—————————————

Not that it makes a difference, but $1,000,000 is an arbitrary air number that will soon after be zero (i.e. include all houses and other real estate).

#64 Vancouverite on 01.05.22 at 5:40 pm

#39 Observer on 01.05.22 at 4:48 pm
.2% for houses worth 1 million, not 1% ($2000, not $10,000)

“Owners with homes valued between $1 million and $1.5 million would pay 0.2 per cent. The next bracket, up to $2 million, would pay 0.5 per cent. Anything over $2 million owes one per cent.

Once the system is set up, the rates and threshold can easily change.
Eg. Vancouver Empty Home Tax was originally set at 1% of assessment value; it’s now 3%.

$2 million home x 1% = $20,000

New rate 3%, tax jumps to $60,000

#65 Nonplused on 01.05.22 at 5:41 pm

#12 YVRTechGuy on 01.05.22 at 4:04 pm
Actually you’re wrong on one point there Garth – you can make stuff cheaper by taxing it.

Car gasoline is actually significantly cheaper in Canada (the underlying commodity) than it is in the US, simply because it’s taxed much higher in Canada – even though the pump price is higher.

—————————————-

Try as I may I can’t understand this. Gasoline prices are cheaper in Canada as proven by the fact that our pump prices are higher? Please stay out of the gene pool.

Refinery gasoline prices in Alberta are cheaper than in say Texas because Alberta crude trades at a discount to Texas crude due to transportation and quality differences. It’s a matter of we are sitting on the oil. Nothing to do with taxes. But yet we pay more at the pump. Everything to do with taxes.

#66 Observer on 01.05.22 at 5:45 pm

#56 Vanreal “I’d love to see them say they were going to tax an investment portfolio of 1,000,000”

Well, you must love it then cause they do.

#67 HH on 01.05.22 at 5:46 pm

If I was in that situation and lucky me I’m not (but two of my siblings might be) and if I decided to sell my valuable property for something cheaper, I’d slap that $20,000 unfair tax right onto the market price of the house. If it sells it sells, if it doesn’t it doesn’t.

#68 T-Rev on 01.05.22 at 5:49 pm

The primary problem, in my mind, is municipal development policies. You can build a 2000sq ft two storey detached home with a two car front attached garage anywhere in or around any major city in Canada for under $400k. Full stop. That’s the cost of labor and materials as long as basic architectural designs and finishing are selected. The remainder of the cost is land and utilities servicing and civil work including paving the roads and laying sidewalks, curbs, and gutters. In general, the deep services, paving, and other civil work should never exceed $65k per lot in a well planned city with existing infrastructure. So do the math- anything above $465 for a single family home is the cost of the land. Does Canada appear to be out of land to anyone??? Thought not. The issue is with planning and development and restrictions on the amount of available lots. This has clearly driven the price of a 50’ wide chunk of dirt to millions of dollars in some goods. If the Feds really wanted to level the playing field between property owners and everyone else, they’d take steps to massively increase lot supply, which would bring existing home prices down to earth as they would then have to compete with cheaper, newer homes.

Yes, there will always be limits on what and where you can build in the middle of existing big cities- but commuter towns, subburbs, and new urban hubs should be cheap, relatively speaking. If they’re not, we need to look at planning, zoning, and possibly looking at competition bureau investigations into land developers, although I doubt this last part is really the problem.

It’s supply and demand, and we have artificial reduced supply with unreasonable development restrictions. We should be building so many houses that people have multiple, economic options to choose from.

#69 Linda on 01.05.22 at 5:51 pm

Today’s pet photo must be in black & white, because ‘Zeus’ looks to be silver grey & not orange in the least:)

So now NS is looking to cash in on the RE tax grab? Well, that province needs $ just as much as anywhere else. Question: if one is actually living in NS does the tax still apply if one owns RE anywhere else? As for the ‘squeeze’ tax proposal, if municipalities are the ones to determine how much a property is worth, what is to stop any municipality from pricing all RE as $1 million plus so they can then tax the bejeezus out of it?

#70 Penny Henny on 01.05.22 at 5:57 pm

What’s that old saying?
A day without Dolce is like a day without…

arrogance?
hysteria?
questionable math?

Anywho.

Me would wager he mouthed off to Garth and is now in purgatory.

#71 Concerned Citizen on 01.05.22 at 6:02 pm

Not all taxes are created equal or have the same effect.

A tax that targets foreign buyers and domestic investors absolutely will reduce demand for housing, which all things equal will lead to lower prices. While some Canadian jurisdictions already have similar measures, their effectiveness is limited due to the fact that spineless governments across the land will not create a beneficial ownership registry. That means it’s easy for such buyers to hide behind corporate entities, relatives, etc. when buying real estate, meaning we don’t know the true scale of their influence.

But I would submit where there’s smoke, there’s a raging inferno. How many stories like the one about the income-less university student with $33M worth of property to his name before we act on the problem?

Then there’s a tax like the land transfer tax, which absolutely will increase the cost of housing.

We can’t paint every tax with the same brush.

This housing crisis is so severe, we need measures to both reduce speculative demand and increase supply. Or have we as a country forgotten how to walk and chew gum at the same time? I increasingly wonder…

Covid reduced immigration to a trickle recently and foreign buyers were gone. Prices shot up by an historic amount. Stop beating a dead (Chinese) horse. – Garth

#72 NOSTRADAMUS on 01.05.22 at 6:03 pm

CASH FLOW CHALLENGED REAL ESTATE COMPANIES.
First and foremost, realize that the entire Real Estate industries survival is is based on sales volume. With cash flow, being the lifeblood. For countless years all has been well in Real Estate land. Brink trucks arrive daily with bundles of hard earned cash. As the Real Estate brokers fall asleep New Years Eve, the thought that this cash flow could, or ever would ever stop, never disturbs their slumber.
THE YEAR OF THE LORD 2022 ARRIVES RIGHT ON TIME. However the landscape has changed drastically. NO LISTINGS = NO SALES = NO COMMISSION DOLLARS Please allow me to explain what happened back in the 1990’s when the commission dollars dried up. Typically, being slow to react the company will fall back on the old tried and proven methods that always worked .
# 1- They will try to outgrow the problem by throwing equity capital at it. They will step up promotions and advertise past sales stats, award galas with top line motivational speakers to keep their agents pumped up. # 2- Getting a wee bit concerned they will tap into their line of credit at the bank to buy more time. # 3- They will resort to cost cuts, cutting back on advertisement, promotions, support staff and bonus. # 4- The unthinkable, resorting to commission cutting. # 5- They’ll start to stiff their agents on commission dollars owed, resorting to changing commission splits. This doesn’t go over well, as the agents with loyalty to no one, abandon the ship in the night, leaving behind desk fee’s owed to the company running into the $1000’S . To their horror none of the go to methods are now working. At this point, they have become Zombies living on borrowed time.
The feed back loop only accelerates the problems for the cash flow challenged Real Estate company. Bleeding money, patience begins to run thin, partners argue, senior management are fired or move on. Logic suggests that a company in this position can not grow itself to profits, it needs to shrink it’s way there, but that’s going to be nasty. Sadly, even their previously imaginary friend “The Banker” says “NO MAS,” This is the end of the road.
Desperate, there is the possibility that a rogue broker owner will go over to the dark side and dip their fingers into the trust account. This is referred to as fraud.
General warning, If the Real Estate company cannot self fund be especially careful. The accelerating cash flow challenged companies detonation will harm many innocent victims. (1) the consumer, (2) the company agents. (3) Various lenders. However, on the positive side, the fall out will provide one more nail in the coffin for the way real estate has been allowed to be conducted. That’s all I have to say on that, for now.

#73 Odif Yltsaeb on 01.05.22 at 6:06 pm

Would you rather have them increase capital gains inclusion rate? How are we going to pay for the monstrous spending from this government?

#74 I don’t know on 01.05.22 at 6:08 pm

Won’t happen. Too damaging politically, economically and won’t accomplish anything as houses become less (not more) affordable.

Most importantly, all these people crying for lower house prices, you watch how fast they change their tune when they become home owners themselves. As soon as the signature goes on the purchase agreement all this fake talk about equity and affordable housing will disappear. Human nature never changes, and the desire for space will always be the main priority. Tax or not.

The best bet has always been to build more, of course. Increase supply. Places like Toronto where there isn’t anywhere to build, plus a huge economy to boot? Zero chance any of this has any effect whatsoever. Buy when you are able.

#75 sean on 01.05.22 at 6:09 pm

RE: #56 vanreal on 01.05.22 at 5:24 pm

Why is housing the only investment the government tries to depress the value. I’d love to see them say they were going to tax an investment portfolio of 1,000,000…

—–
Well vanreal, I don’t know about you but I’m already paying tax on my investment portfolio every year absent the amount in RRSPs (only deferred) and TFSAs of course.

That said, this scheme seems doesn’t seem very sensible. I’d prefer a return to 25% down payments (what I paid) and limiting CHMC coverage to (say) $500K to make sure that both the purchaser and bank bear the bulk of the risk.

It a tax is to be imposed, it should be laser focused on short-term flippers, e.g. a significant (~20%) tax on sale that declines once you have owned the property for ~5-10 years.

#76 Josh in Calgary on 01.05.22 at 6:15 pm

This proposal is just asinine. It goes from under taxing an asset class to over taxing it. They claim you pay less tax compared to gains on stocks. But stocks you don’t pay a percentage on the total value, only a percentage on the total gain after you deduct expenses. Ok, so allow for taxation on a sale. But only for the total gain, once expenses are deducted. Now everyone will be forced to save receipts on all maintenance, improvements, etc. Or they should at least allow for 1 to 2% deduction for expenses. What a giant ball of red tape.

The problem isn’t the person who sells a house 5 or 10 years after living in it and seeing it rise with inflation. Nor is it the senior living in an area for 30 years and seeing their property price sky rocket. It’s the flippers. So just change the rules to tax gains on short term flips. And allow for reasonable deductions.

#77 45north on 01.05.22 at 6:17 pm

How much paperwork does it take to approve a (small) government website? 39,230 words

“Unfortunately, actually launching (the Labs website) meant slogging through a morass of meetings and meddlers,” Craig added. “It’s all well and good to champion tomorrow’s leaner and faster ways of working, but in our present context, we were firmly trapped in the past.”

https://nationalpost.com/news/politics/how-much-paperwork-does-it-take-to-approve-a-government-website-39230-words-worth

I worked at Agriculture Canada for 30 years and at the end of a successful and rewarding career, I decided I did not want to be one of the meddlers. What a bunch of dinks! The chief requirement for senior positions was to parrot the common-look-and-feel standard imposed by Treasury Board.

We put up the web site Canadian Soil Information Service on a shoe-string
http://sis.agr.gc.ca/cansis/index.html

The information was high-value, it existed no where else. It was criticized because it wasn’t completely bilingual. For example The Soil Survey of Prairie Rose Rural Municipality, Saskatchewan was available only in English. It still is. Translating it is a waste of time. First of all, it is extremely difficult to do. You have to be a soil expert with an excellent capability in English and French. There used to be maybe a dozen people in Canada with the required qualifications. Today there may not be any. Even after it’s translated, no one is going to read the French translation. Anybody interested would read the original!
https://sis.agr.gc.ca/cansis/publications/surveys/sk/sk309/sk309_report.pdf

Blind people couldn’t see the maps. They still cannot.

We spent more time on the common-look-and-feel standard than we did on soil information.

#78 Shawn on 01.05.22 at 6:24 pm

Gasoline cheaper in Canada before tax?

#64 Nonplused on 01.05.22 at 5:41 pm
#12 YVRTechGuy on 01.05.22 at 4:04 pm
Actually you’re wrong on one point there Garth – you can make stuff cheaper by taxing it.

Car gasoline is actually significantly cheaper in Canada (the underlying commodity) than it is in the US, simply because it’s taxed much higher in Canada – even though the pump price is higher.

—————————————-

Try as I may I can’t understand this. Gasoline prices are cheaper in Canada as proven by the fact that our pump prices are higher? Please stay out of the gene pool.

Refinery gasoline prices in Alberta are cheaper than in say Texas because Alberta crude trades at a discount to Texas crude due to transportation and quality differences. It’s a matter of we are sitting on the oil. Nothing to do with taxes. But yet we pay more at the pump. Everything to do with taxes.

*************************
You can debate the reasons… lower crude cost (sounds right) or just that the market won’t bear more in Canada due to the tax on top…

The interesting thing is the idea that gasoline is actually cheaper in Canada than the U.S. on a before tax basis. THAT is not a well-known fact.

#79 Chameleon on 01.05.22 at 6:25 pm

What a close-up!

#80 I don’t know on 01.05.22 at 6:35 pm

#67 T-Rev on 01.05.22 at 5:49 pm

Correct on zoning and the artificial demand but there are other factors at play, possibly even more important ones. One other factor is Canada’s geography. All our large cities are right next to the US border out of economic necessity. Being close to the US obviously has economic advantages, but the other thing is the rest of Canada is land that is hard to live on, particularly in the winter. Long distances between Canadian population centres is hard to traverse 6-8 months of the year due to the cold. Thus the main city centres will always be the main economic hubs with the most opportunity…and expensive real estate as a result.

#81 Reality is stark on 01.05.22 at 6:39 pm

Why does everything need to be complicated? Cut the federal transfers to the Provinces. Cut the Provincial transfers to the municipalities and then raise property taxes.
The money has to come from the older generation that is not instrumental in the future. You have to give the young optimism.
It isn’t rocket science. The debt has to be addressed.
Hang ‘em high. Give them some artificial wealth and tax it all back.
Our government is drunk on spending and they need your damn money. The way they go about hoodwinking you is none of your damn business.
You will pay dearly as the transfer of wealth from the private to the public sector continues unabated. As people live longer those gold plated obligations become more onerous and we never had the foresight to limit the lunacy.

#82 Quintilian on 01.05.22 at 6:41 pm

#59 Economics 101:

“Millennials are having families; that’s the driver of home price inflation. Everything else is just noise.”

The theft from savers to buyers facilitated by the BOC, and the risk shifted from mortgage lenders to tax payers, and the stoking of demand by government policy is just noise?

Your vacuous argument fits in with ” we are running out of land”

#83 Question ODSP rules on 01.05.22 at 6:48 pm

#33 wallflower on 01.05.22 at 4:28 pm

And, asset-based qualifiers for things like ODSP, OAS, and others should have always been in place.
(I know a dude on ODSP with two one-million dollar homes fully paid for. And, I foresee half a dozen Canadians I know going into the GIS stream with multiple fully paid for properties. Is this what we meant when we developed these programs? That they are for the asset rich?)”………………………………
My daughter was cut off ODSP when she married.Reason was that her spouse ( not disabled) had an RRSP savings which he had established prior to meeting her.Advice from the ODSP agent was to use the money to buy a house or car. Then she would qualify for ODSP. But because she had a disability with vision issues, a car would useless. As well, this young couple could not afford a house,so this advice was useless. In addition, her husband now had to report his income monthly. Somehow, I feel his privacy has been affected by marrying a disabled person. He makes about $24 per hour and she has no income. The system is so bizarre that people who own a million dollar ,paid for house can collect ODSP and yet she a young disabled person has been cut off.
So this young couple live in our basement for free, because they cannot afford to even rent in the GTA.
This is intelligent government in action!

#84 Josh in Calgary on 01.05.22 at 6:55 pm

The more I think about this tax on houses the more it makes me angry. It can’t possibly go through (but knowing T2 it has a chance, so that’s why it makes me angry).

Someone works hard to get ahead and earn a good income. They pay tax on that income. They save up for a down payment to buy a house (all with income that has been taxed). They borrow money and make all of the payments. The house requires 1 to 2% maintenance a year (all paid with after tax dollars).

Whether they bought a million dollar house or it increased in price to that amount is irrelevant, now you want to take 1% year on top of that? It amounts to nothing more than a jealousy tax. People doing no work assuming that just because their neighbor is doing well means they should pay for them to do nothing. Chances are most people with a million dollar house are already stretched on cashflow. They don’t have an extra $10,000 to fork over just because someone else thinks they should “shoulder more of the load”. They’re likely already paying tens of thousands in income tax, property tax, gst, etc. Some people have a perverse sense of “fairness” that no amount of taxing other people will satisfy

#85 Juste Pour Rire on 01.05.22 at 7:01 pm

I’m so conflicted!

…about those kids on that Sunwong Mexico flight.

They are so dumb and yet so…not. How can both things be true at the same time?

Oh…how they just took a giant vaccinated whiz upon the politicians, Indigenous-Surfing, COP26 partying Trudeau all the way down.

Hey, can they even be fined? By the time the seatbelt sign went out surely they were over the US already where we have no jurisdiction. Or maybe they were over international waters? Mexico? Who knows? Is there GPS data with those pictures?

#86 Shawn on 01.05.22 at 7:08 pm

Agreed Immigration is probably not the big driver … but

Covid reduced immigration to a trickle recently and foreign buyers were gone. Prices shot up by an historic amount. Stop beating a dead (Chinese) horse. – Garth

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

I make no strong comment on whether immigration partly boosted prices. Just a little fact update.

Indeed immigration WAS a trickle, but the taps were opened wide 6 months ago. A gusher! We got 123,000 new immigrants in Q3. Some people left. There were also apparently 60,000 net non permanent residents. There are some footnotes in the table for someone to dig into.

https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1710004001

#87 Comment on a comment on 01.05.22 at 7:15 pm

#1 BlogDog123 on 01.05.22 at 3:38 pm
The answer is build, build, build.

What a stupid suggestion!

Build where? We have shortage of land in this second largest country on the planet known as Canada.

Have you seen the high density everywhere? There is no more room to build anything anywhere anymore…except maybe more 350 sqft studio 1bdrm condos.

/S

#88 dragonfly58 on 01.05.22 at 7:16 pm

Garth, I am not so sure the money from outside Canada is such a dead horse. In many countries being wealthy {Cash or land}, can make you a target of the government if you are from what is considered a minority, ethnic or religion.
Some pretty large sums are looking for a safe haven. The money leaves the home country quietly and it enters Canada quietly. But lots of it ends up in Canadian real estate.
Many years ago I knew a fellow who did this based in a former eastern block country. From a very well connected family in the home country , and relatives in Canada. He would bring large sums into Canada and see it was well invested in real estate. All for a small fee. Little risk, all cash , no muss, no fuss. Back home the money never existed officially. If it did the government would have grabbed the lions share. Once it was safe in Canada it was out of danger. In some cultures paying tax is a bigger sin than not paying tax.

#89 the Jaguar on 01.05.22 at 7:23 pm

I like this stylish black and white of Zeus, former lion of the streets of Taber, Alberta where some of the world’s best corn is grown and coveted by those in the ‘know’.

It’s sometimes said that the eyes are the windows of the soul, and it seems the life of a street cat peer out at us with a sort of weariness from this lion. No matter.

Brad of southern Alberta has restored him to his place of exaltation. His destiny as beloved tabby in the House of Humans. Thank you for giving him a beautiful life.

#90 R on 01.05.22 at 7:29 pm

Today is just another day in Paradise. We went for a two hour hike on the Esperaro Trail in Sabino Canyon. In AZ, Covid is a non issue,no one cares anymore. In the local grocery store,Bashes, maybe one in four wear a mask. We do, and we have both recieved our third booster. Arizona does have one of the higher death rates due to Covid, but I suspect it was due to their lassie fair(sp?) attitude during the more lethal varients two years ago. To day, in Ontario, lock down proceedures are in place for a Covid varient that has morphed to a sore throat . Australia seems to have a much more mature response. Dr John Campbell is my trusted source all things Covid. Our governments would do well to watch his U Tube channel.

https://youtu.be/wfZ62aWf6pk

#91 Faron on 01.05.22 at 7:36 pm

#31 millmech on 01.05.22 at 4:26 pm

Not recommending anything. But, I thought it was your “friend” who was the call seller?

#92 KLNR on 01.05.22 at 7:37 pm

not happening.
would be political suicide.

#93 Bankrupting Landords is good for the economy on 01.05.22 at 7:43 pm

To be fair, the BC NDP “school tax” did in fact permanently collapsed home prices in Vancouver. Only for +3 million properties though.

#94 Kaptain Insano on 01.05.22 at 7:43 pm

You are wrong on this point Garth. Higher property taxes will lower real estate prices. Canadian real estate is a tax shelter for foreign capital. When compared to other investments, the lack of a capital gains tax makes it attractive versus other investments and as a result, it has become a speculative investment. All of the other taxes you mentioned (empty homes, foreign buyers, etc.) all have loopholes that people use to avoid paying them. Raising property taxes will reduce affordability but to counteract this for workers, government should reduce income taxes. This would penalize investors and foreigners who don’t pay taxes in Canada.

#95 Concerned Citizen on 01.05.22 at 7:43 pm

Covid reduced immigration to a trickle recently and foreign buyers were gone. Prices shot up by an historic amount. Stop beating a dead (Chinese) horse. – Garth

*****

Demand means money, not necessarily people. New people is not a prerequisite for new money. Again, we don’t know the true extent of the problem because government will not create a beneficial ownership registry, a tool that would be highly effective in combating money laundering and speculative investment. Gee… I wonder why they won’t do it…

But in any case, you’re wrong on the people part. Canada’s population is estimated to have grown just under 1% over the course of 2021. Compare that to the U.S. – its population is estimated to have increased ~0.1%. When the numbers are finalized, it’s possible Canada’s population will have increased more in absolute number than the U.S. – despite the U.S. having ~10 times our starting number.

Reputable organizations have identified Canada – and Canadian real estate – to be a haven for international money laundering. Surely we haven’t gone so collectively woke that believing Canadian residential real estate should not be an international good nor a means of international money laundering gets yourself labeled a xenophobe.

By the way, I’m not suggesting this is the only cause of bubble real estate. I have written at length about how central banks are to blame through negative real interest rates, and domestic investment/speculation has also played a significant role (enabled by the central bankers). But if we have any hope of salvaging the “Canadian dream” for young people, all the causes ought to be addressed.

#96 SCD on 01.05.22 at 7:47 pm

raise rates.

#97 Tedfifty on 01.05.22 at 7:52 pm

Since all of these taxes would be reflected in rental costs, imperil seniors (23%) of the Population into impoverishment. it’s unlikely this proposal will see the light of day.

#98 Taco Devil on 01.05.22 at 7:54 pm

#57 Søren Angst

It’s all fun and games.

But Novak is bringing a serious point forward.

At some point we need our personal freedom and personal responsibility returned to us.

When will that be?

#99 Cici on 01.05.22 at 7:55 pm

#35 Penny Henny on 01.05.22 at 4:38 pm
It would appear that the proposal would only apply to the value of the home which is beyond $1 million.
_____________________________________________

Haven’t read the report yet, but according to realtor Steve Saretsky: “Per the Report, a $1.2M home would pay $400/ year and a $1.5 million home would pay $1000 each year. Anything over $2M ramps up to $14,000 per year.”

1% of a million is $10,000, not $14,000, so not sure where his $14,000 is coming from.

Regardless, this is stupid policy dreamed up by greedy fools who think they actually have something to gain by taxing granny in her inflated $2 million home that she only paid $180,000 for. They will still never be able to afford her home (she’ll just defer the interest), but they will pile into $700,000 or $800,000 condos waiting for the price of her home to fall… but oops, in a few years that condo will bloat to over $1 million while the actual value of said condo drops due to currency devaluation, and then they’ll be paying that same surtax too.

I will laugh and cheer them on while gorging on a bowl full of popcorn ;-)

#100 Still employed in AB on 01.05.22 at 7:58 pm

I can’t see this going through. Don’t the liberals need to keep seats in urban areas where the average house costs over a million?

#101 Nonplused on 01.05.22 at 8:07 pm

#77 Shawn on 01.05.22 at 6:24 pm
Gasoline cheaper in Canada before tax?

You can debate the reasons… lower crude cost (sounds right) or just that the market won’t bear more in Canada due to the tax on top…

The interesting thing is the idea that gasoline is actually cheaper in Canada than the U.S. on a before tax basis. THAT is not a well-known fact.

——————————————–

Gasoline processed in Alberta is cheaper, because oil in Alberta is cheaper. To get it anywhere we have to move it by pipe or by train, and that costs money. And is constrained so there is a surplus of oil in Alberta right now.

The “netback” as they call it in Alberta can be as high as $20 below West Texas. That means if oil in Texas is $70/bbl, Alberta gets $50/bbl. This is why gasoline at the refinery is cheaper in Alberta, not because of some magic with taxes.

Crude oil is an international commodity. All that matters in transportation differentials and the oil will go where it fetches the best price. Well, there are quality considerations too, light sweet crude costs more than Alberta’s heavy oil for example.

If taxes were raised enough to reduce Canadian consumption, the oil would just get on a train and head for Texas or Louisiana or Oklahoma. Maybe a boat to Japan if Trans-Mountain 2 ever gets completed. Or it would have taken a pipe if Biden hadn’t canceled Keystone.

The taxes have nothing to do with it and there is no need to debate it. Without the taxes gasoline would be way cheap in Alberta but that is because we have land-locked cheap oil.

In Ontario and Quebec I am not so sure because they get much of their oil from Saudi Arabia and Norway, so I assume they pay market rates. Some is coming into Sarnia from Alberta through the Enbridge system, but again there is transportation on that so the price in Sarnia is not the same as the price in Alberta, it is higher.

BC can say they are getting cheap gasoline from Alberta, and they are, so long as Trans-Mountain continues to flow.

The idea that taxes are driving down the price of gasoline in Alberta is just plain silly. It is transportation constraints and quality/grade issues, nothing else.

#102 Nonplused on 01.05.22 at 8:11 pm

#72 Odif Yltsaeb on 01.05.22 at 6:06 pm

“How are we going to pay for the monstrous spending from this government?”

We aren’t.

#103 Nonplused on 01.05.22 at 8:20 pm

#54 Shawn on 01.05.22 at 5:20 pm
No Problem…

Just move to Alberta where your new built home will be under $1 million. And your income tax lower. And no provincial sales tax.

You’re welcome.

—————————–

You highlight another market perversion that would arise in this scheme, namely that demand for sub – $1 million dollar homes would go up as people try to avoid the tax. Thus you could see the price of $1 million plus houses soften due to people having to take the tax into account when deciding what they can afford to pay, whilst demand for sub $1 million dollar houses goes up, making the most affordable homes less affordable.

The CMHC limits did this back in the day when they actually had effective CMHC limits. In my day, well when I bought my first house, the CMHC limit was $175,000. Coincidentally that was also the median price for a decent but modest house. Sellers knew you get get approval if you could fog a mirror, so the base price of a house was the CMHC limit.

It doesn’t matter what the government does, they make matters worse.

#104 WTF on 01.05.22 at 8:24 pm

“ … just imagine buying a kinda-but-not-exactly sweet house in Toronto for $2 million. The land transfer tax is $72,950. Annual property taxes are about a grand a month. The Squeezy tax would be an extra $20,000 a year. And you still need to come up with two million.”

So…forget the one-time $73k. $20k squeeze plus $12k property tax and $60k a year on mortgage….so annually $92k AFTER tax dollars to “own” a house? Plus utilities, insurance and repairs?

Makes sense.

#105 db on 01.05.22 at 8:28 pm

#39 Observer – it looks like you came closest to actually reading the study. Regretfully it took 39 comments before this happened.
GT on GF Quote: For example, the average detached home in Vancouver is currently worth $1,910,200. So, this ‘progressive’ tax would cost the owners $19,000 per year…….
….”Do the math. 10.25 million households in Canada x 69% homeownership rate = 7 million owners x 13% = 919,400 families/$5 billion = $5,400 in average tax….”

per the report: the surtax of 0.5% would apply on the value OVER 1 million, so $910,200 x 0.5% = $4551 not $19,000 (in the case of the higher near $6 billion in estimated tax collected)

The report estimates 1,362,789 households would pay the tax with the following averages per sub-group: 1 to 1.5 million, $1021; 1.5 to 2 million, $3618; over 2 million, $16210 since the 1% rate would only apply on the amount over 2 million.

I’m thinking Garth based his estimates on the convoluted “shareable” graphics from the website whereas the actual written report has the breakdowns in adult friendly tabular format.

The link for the pdf format report: https://d3n8a8pro7vhmx.cloudfront.net/gensqueeze/pages/6403/attachments/original/1639772589/GenSqueeze_Nov26.dat?1639772589

#106 Ponnaps on 01.05.22 at 8:45 pm

As I keep saying..

Canadian Real estate is the 21st century version of colonization.. both mechanisms for transfer of 3rd world wealth to develop and sustain western nations…

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

#107 Beff Jezos on 01.05.22 at 8:49 pm

401000 new immigrants last year Garth … no peanuts eh… they definitely contributed to inflate the housing pyramid scheme

Newcomers are not foreign buyers. They are called ‘Canadians’. Equal to you. Try to remember that. – Garth

#108 Dogman01 on 01.05.22 at 9:00 pm

“It’s progressive (which means other people pay it)” – Garth Turner

They need more tax, old people are rich, young people vote Liberal.

Inheritance Tax baby!– tax the snot out of the windfall gains being given to the children whom did nothing to earn it.

No need to fiddle with all this micro malarkey.

#109 KLNR on 01.05.22 at 9:02 pm

@#106 Beff Jezos on 01.05.22 at 8:49 pm
401000 new immigrants last year Garth … no peanuts eh… they definitely contributed to inflate the housing pyramid scheme

Newcomers are not foreign buyers. They are called ‘Canadians’. Equal to you. Try to remember that. – Garth

It’s common knowledge that its the old stock canucks using primary residence equity to buy second and third investment properties.

the ‘blame the new immigrants’ argument for current house prices is just lazy and puerile.

#110 db on 01.05.22 at 9:03 pm

Nota: please delete my same comment above as my use of <> yielded some unintended formatting..thx

The table, that breaks down the surtax rates, the average amount collected per household and the estimate total tax collected is on page 45 of the report.

The surtax is one of a series of recommendations made in this report (or “Solutions Lab”).

First, the bad. This report is full of the jargonese popular among government consultants. Here’s a prime example:
from page 2: “….Solutions Labs are also referred to as social innovation labs, change labs, or design labs. Such labs aim to tackle complex societal challenges that require systems change, and which have not been
solved using conventional methods. (>)The labs are therefore not intended to be academic exercises
typical of research at universities.()Emphasis mine (<)
Translation: Don’t expect accountability, academic rigour, standards, a bibliography, citations or anything remotely associated with demanding work. You know, the kind of work that’s associated with an actual working lab. But we’re cool (see graphics for proof), safe and vaguely intangibly diverse…so give us more public funds please.
The Good? They actually cover a broad spectrum of policy options and clearly tackled a variety ideas in a fairly systemic manner. The report should be more accurately be called a policy framework document or research proposal. Give it a read.

#111 Cici on 01.05.22 at 9:05 pm

#69 Penny Henny

I didn’t agree with everything Dolce had to say, but he still had a lot of good things to say and was trying to look out for us by relaying critical info from abroad.

He certainly wasn’t harassing or bullying anyone.

#112 crowdedelevatorfartz on 01.05.22 at 9:10 pm

60 to 70% of Hospitalisations due to Covid in BC……are unvaccinated people.

There are 375,000 people in BC that haven’t recieved any vaccines.

Hospitalisations are shorter and not as severe due to lessons learned over the past two years of treatments.

All unvaccinated should be charged with the cost of their hospitalisation.

“Here’s your bill, idiot.”

#113 Ronaldo on 01.05.22 at 9:15 pm

#54 Shawn on 01.05.22 at 5:20 pm
No Problem…

Just move to Alberta where your new built home will be under $1 million. And your income tax lower. And no provincial sales tax.

You’re welcome.
————————————————————-

Exactly. Move here and WFH. Nice little town with a lake on your doorstep. Prices less than a down payment on a Vancouver teardown.

https://www.realtor.ca/ab/sylvan-lake/real-estate

#114 crowdedelevatorfartz on 01.05.22 at 9:16 pm

An elderly person required a trip by ambulance to St Paul’s hospital in downtown Vancouver after suffering a fall.

His apartment building is SIX blocks from St Paul’s Hospital.
How long did it take an emegrnecy ambulance to respond?
Middle of the week and the first call went in at 3:30pm in the afternoon.
Six hours.
The ambulance arrived at 9:30pm.

Opioid crisis?
Nah.
The entire Health care system is in crisis.

#115 Love_The_Cottage on 01.05.22 at 9:20 pm

#43 yvr_lurker on 01.05.22 at 4:54 pm
It seems like every month or so you rally the troops to take up arms over some ultra dumb proposal that will never come to pass.
_________
Yep. The funny thing is watching people get upset over fiction like it’s reality. I often wonder if Garth does this stuff just to have a laugh at the gullible.

#116 Satori on 01.05.22 at 9:24 pm

#45 North
Whole neighbourhoods will rise up. Neighbourhood groups will go door-to-door collecting signatures, names, addresses and emails. There’ll be meetings at community centres. People’s homes. Home owners who have never gone to a political meeting will go.
_______________________________________

I don’t know where you live but here in BC they only protest for Trump infront of Trump Tower, about a non-Canadian issues.

It seems to me, the more the Govt taxes Canadians, they more they pay. No protest, No peeps. That’s Canada, but that shite would never happen in the States, they would take to the streets… not here, we apologize and sit back and take it. Canadians, we’re so ‘nice’.

#117 Satori on 01.05.22 at 9:32 pm

#60 Economics 101 on 01.05.22 at 5:34 pm
The vast majority of the price increases in houses is just simple… Millennials are having families; that’s the driver of home price inflation. Everything else is just noise.
_____________________________________
??? LOL!! I guess they will be adding the kids to Mom and Dad’s basement.

#118 Wrk.dover on 01.05.22 at 9:34 pm

I’m so glad I read Mother Earth News magazine in the late 70’s to learn how to play hippie in the country.

The first page I read when it came in the mail every month was, ‘Economic Outlook’ which warned of the day US federal debt would reach one trillion dollars, (was 1/2 of that at the time) and what the consequences would be.

Canada was on the same trajectory per capita.

Get a tiller, a wood splitter, learn the trades it said.

Ontario refugee migration has just doubled the value of our homestead, if it doubles again and then goes up another what it was worth beyond that, I’m looking at a new $10,000/year tax? Chickens coming home to roost!

#119 Michael in-north-york on 01.05.22 at 9:37 pm

Flat 1% wealth tax on homes > 1M will never happen. The most expensive homes are located in the biggest cities, that happen to be the Liberal power bases.

The median house price in Toronto is 1,163k. If a flat 1% tax was put in place, then > 50% of Toronto homeowners would suddenly have to be extra 10k+ in taxes every year. How many seats would the Libs retain in the city after that? One can say that many voters are renters and aren’t affected, but the Libs don’t have a huge lead in the popular vote. They got something like 48% of the total votes, which amplified to a near sweep due to the first-by-the-post system. Cut 15% out of those 48%, and they are out of luck in many ridings.

A more gradual system, where only the amount above 1M is taxed, and then the rate rises progressively starting at 0.33% or 0.5%, might be politically passable. It wouldn’t help with the house affordability, but at least it wouldn’t be an outright political suicide.

#120 crowdedelevatorfartz on 01.05.22 at 9:38 pm

Ahhhhh the brilliance of the City of Vancouver “Green” bureaucrats.

Vacuous Vacant Vancouver the City of Homelessness

The homeless get another kick in the teeth.

Why?

The City Geniuses have brought in a new tax on any single use cups, bags, etc.

So. the homeless using “free coffee” or “free fries” tickets have to pay $0.25 for the “free” coffee and $0.15 for the paper bag they get any food in.

McDonalds restaurant refuses to handle reusable coffee mugs during covid.

City of Van “green” tax…… that is just another cash grab by unaccountable bureaucrats…..making the homeless see red.

#121 THE DANDADA on 01.05.22 at 9:44 pm

I guess we can keep on IGNORING this……..

https://ca.finance.yahoo.com/news/widespread-labour-shortages-force-businesses-162200986.html

#122 Michael in-north-york on 01.05.22 at 9:48 pm

#112 crowdedelevatorfartz on 01.05.22 at 9:10 pm

All unvaccinated should be charged with the cost of their hospitalisation.
===

If the hospitals refuse to serve them free of charge, then they must be allowed to keep the portion of their income taxes that pays for the hospitals.

#123 Faron on 01.05.22 at 9:51 pm

#90 R on 01.05.22 at 7:29 pm

Wait TSLA LEAPS and, and, AND an AZ COVIDiot? I love me the comments section.

#124 HUNGRY BEAR on 01.05.22 at 9:57 pm

For ALL the UN-VAXED……

You get COVID you pay for all yours and your household families (who you convinced to not get vaxed) medical treatment out of pocket 100%.

And your employer FIRES YOU because you won’t get VAXED so ZERO unemployment.

Its time to REWARD those who took the risk for the rest of mankind and did their part to get vaxed.

#125 Albertaguy in AB on 01.05.22 at 9:58 pm

Just double GST from 5 to 10%

#126 Cherry Sparrow on 01.05.22 at 10:02 pm

“Underutilized”? There’s that nasty weasel word again. But does it mean, exactly? What is the legal definition? Why is it being slipped in quietly? Who is using it and for what reason? It’s not accidental or does the language lack for another term. So what is underutilized?

The term first came to my attention the first dark year of Trudeaus ascendancy when the “long form census” was reintroduced.

The question was printed in an innocuous sub-section. “ How many bedrooms are occupied in the residence?”

Why would the Trudeau government want to know how many bedrooms were being slept in on a daily basis?

Does underutilized mean that at some point the Trudeau Liberals would ‘utilize’ bedrooms I was not? With whom did they intend me to share my space?

“ Underutilized” sneaky weasels, but what does it mean? I mean, I have four burners on my stove top. If I am only ‘ utilizing ‘ one while boiling my pot of boot soup, do the others get used by Trudeau as they are ‘underutilized’?

Anyone?

#127 KLNR on 01.05.22 at 10:02 pm

who knew Serbs were such drama queens.
poor djoker, so hard done by lol.

https://www.theguardian.com/sport/2022/jan/06/serbian-president-decries-djokovic-harassment-amid-reaction-to-visa-cancellation

#128 T-Rev on 01.05.22 at 10:03 pm

#80 I don’t know on 01.05.22 at 6:35 pm

Yup, big cities will always command a land scarcity premium. But if we doubled the radius of all current cities- simply doubled them – we’d have four times the developmentl land we currently have, and it would still put an almost imperceptible dent in the available land supply. Seriously- go look at a satellite image and you’ll see that you could literally build ten or more entire GTA’s just on that little bit of land that sits between Lakes Erie, Huron, and Ontario between Kitchener and Owen Sound. By my count if you built 10 GTAs, you could house 60 million Canadians, or about 150% of the current population. In one tiny area. The problem is zoning and development.

#129 DonJuan on 01.05.22 at 10:04 pm

#oil. Would be interesting if AB went Norway’s route and put O&G resources to back a sovereign wealth fund (kind of like Heritage Fund used to have). Comparison is pretty simple. Norway’s population 5.4 million, AB 4.4 mill. Do Texans have an SOW? (Sov. Wealth. ). IDK what Norwegians call theirs.

#130 TurnerNation on 01.05.22 at 10:24 pm

Kanada is one big Case Farm. This ain’t going away…the planned reset rages on.
Treatments? Hospital Capacity? Not so much.

.Ottawa says 140 million more rapid tests heading to the provinces, territories this month (cbc.ca)

—-
But you already knew this so:

https://www.forbes.com/sites/daviddawkins/2021/07/19/george-soros-and-bill-gates-backed-consortium-to-buy-uk-maker-of-covid-lateral-flow-tests-for-41-million/?sh=2e7fe9402687
“Jul 19, 2021 -George Soros And Bill Gates’ Backed Consortium To Buy U.K. Maker Of Covid Tests For $41 Million”

https://www.dailymail.co.uk/news/article-10355941/Biden-signs-137M-deal-COVID-test-factory-start-producing-83-3M-tests-month-late-2024.html
“Biden signs $137 million deal with German pharmaceutical company for COVID test strip factory that will take THREE YEARS to build and will start producing 83.3 million tests a month in late 2024 at the earliest”



Paging Alphonse…he nailed it over one year ago:

“#74 Alphonse Kehaulic on 11.25.20 at 7:40 pm
28 days lockdown. Symbolism. Two 8s = 88 = double infinity. In other words: Endless, in perpetuity, no timeouts for your lockdowns. Put it to you this way: From now on there will never be a time of no lockdowns.
28 Days Later was a movie about a pandemic. Just a coincidence I’m sure.”

#131 Naga on 01.05.22 at 10:24 pm

Wow – so 70% of Canadian adults own real estate.

Less than 50 % of the adult population vote for our federal elections.

I m sure that of the 30% that rent or live in social housing they don’t all vote.

T2 and his gang are a bunch of wing buts but not stupid. They would be slashing their own throats in the future if they mess with 70% of the homeowners.

Too much of the Canadian economy is RE dependent.

Watch out when the clock is reset – regardless by which means. Interest rates rising most likely.

Town house in shady neighborhood in Mississauga over 40 bids – will be selling for close to $1mill. Something is not right!

I can forsee tax rules changes for capital gains – both for RE and Equities. If 100% of gains go taxable time to cash in and derisk our life.

Also forecasting of any type not good for health and anxiety sensitive types – expect to be wrong most of the times. We humans are all good at explaining the past!

#132 Michael in-north-york on 01.05.22 at 10:33 pm

#127 KLNR on 01.05.22 at 10:02 pm

who knew Serbs were such drama queens.
poor djoker, so hard done by lol.

https://www.theguardian.com/sport/2022/jan/06/serbian-president-decries-djokovic-harassment-amid-reaction-to-visa-cancellation
===

Nope, the Serbs have a point, the Aussies messed up big time.

If the Aussies don’t want Djokovic on their soil, that’s fine. Just don’t grant him the medical excemption and he won’t come.

Instead, the provincial government says, your excemption is fine and you can come. He spends many hours on the plane, only to be told by the border guards that they don’t believe his excemption is valid. What a circus.

The top players should boycott the Australia Open next year, and teach that government a lesson. If they don’t face any consequences for their incompetence, they will go from bad to worse.

#133 DON on 01.05.22 at 10:43 pm

#74 I don’t know on 01.05.22 at 6:08 pm

Won’t happen. Too damaging politically, economically and won’t accomplish anything as houses become less (not more) affordable.

Most importantly, all these people crying for lower house prices, you watch how fast they change their tune when they become home owners themselves. As soon as the signature goes on the purchase agreement all this fake talk about equity and affordable housing will disappear. Human nature never changes, and the desire for space will always be the main priority. Tax or not.

The best bet has always been to build more, of course. Increase supply. Places like Toronto where there isn’t anywhere to build, plus a huge economy to boot? Zero chance any of this has any effect whatsoever. Buy when you are able.
*************

If you big more houses won’t speculation keep on sucking up additional properties.

Raising rates and putting the lending risks back on the banks is the peanut butter and jam. Why should the Cdn taxpayer take on the risk for an over indebted greedy homeowner or speculator wannabe.

Building more will keep Realtors in commission is that what you are going for?

#134 DON on 01.05.22 at 11:05 pm

https://www.rfa.org/english/news/china/food-01032022132444.html “Xi and residents start bartering amid dwindling lockdown food supplies
The authorities deploy tens of thousands of police officers to ‘maintain stability’ as public anger grows.”

https://globalnews.ca/news/8489570/kazakhstan-protests-anti-government-president/ Raise gas prices in an oil rich nation and the gov resigns.

#135 O, HIP on 01.05.22 at 11:05 pm

#124 HUNGRY BEAR on 01.05.22 at 9:57 pm
For ALL the UN-VAXED……

You get COVID you pay for all yours and your household families (who you convinced to not get vaxed) medical treatment out of pocket 100%.

And your employer FIRES YOU because you won’t get VAXED so ZERO unemployment.

Its time to REWARD those who took the risk for the rest of mankind and did their part to get vaxed.

>>>>

WOW.

Has the division gone so far that this sentiment is shared?

People who have paid taxes all their lives and into the system should have the human right and dignity denied? This is a justified view? Maybe with that logic they should get a refund of all the money they paid into it?

The media told you so, and you believe that these shortages of Health Care Workers are just Covid Covid Covid? You don’t think they may have seen enough of the under appreciation? The pay. The risk. The indifference to them as individuals?

How quickly the banging of dishes ended during highest stress and unknowns when they risked themselves and their own families. How quickly it turned into “fire them if they don’t vaccinate”! Zero consideration. Zero respect. Zero recognition of natural immunity. Zero personal choice, which if anyone earned with their actions just a few months earlier – it was health care workers.

And what about the treatments? We’re 2 years in – they test you and send you home – no treatment at all? Really? Surely there is something – why don’t we have access to it yet?

You want to go back to work after holidays into this cluster if you were a Health Care Worker? You wouldn’t say to yourself “I’ve earned extra few days off” – especially after the politicians said “Hey, Health Care Workers – you have Covid and tested positive – COME TO WORK ANYWAY!” They see things first hand. They know the vaccinated are catching, spreading, hospitalized because of general populations high level of comorbidities with this thing due to obesity, diabetes, old age, etc.

And hey, if you don’t vaccinate you won’t get the EI you paid into all your life either when we fire you!

Actually, never mind, we won’t enforce that mandate – we were just stressing you out – and who cares? We tell you we care, but our actions tell you otherwise.

Someone makes ONE decision to not get injected and agrees to not travel and not go to mass gatherings and THEY are the ones who are the issue?

Who’s spreading these variants now? Who’s moving them from country to country on planes? Certainly not the unvaccinated. Who’s in these mass gatherings? Concerts? Arenas? Not the unvaccinated. It’s gotten so bad that the jurisdictions have stopped reporting how many fully vaccinated make up the numbers, but the reporting stopped at over 80% fully vaccinated, right?

What about those who make the decisions day-in and day-out to be obese? To smoke cigarettes? To consume unhealthy levels of alcohol? To smoke weed – yeah go ahead, tell me again how it’s healthy and good for you.

Slippery slope you’re talking about. Who do we deny human rights, dignity for?

Everyone has limits boys and girls, and I have nothing but compassion, respect and understanding for Health Care Workers. Health Care Worker wants to take care of me, a stranger, in my biggest moment of need? That’s more than enough for me. I don’t care if they are vaccinated or not against this.

I’ll say this. In the years ahead, we’ll do the post mortem on this whole thing. Hopefully we’ll learn lessons, because right now it’s incredible what is happening. Thinking before talking has gone out the window.
Thinking before acting has gone out the window.
Thirds more deaths in BC from opioid overdoses than Covid, and yet, Covid is the top priority. Average overdose death 43 years of age, average Covid death 85 years of death – and BC knows where the priorities should be for a health emergency in their province.

#136 DON on 01.05.22 at 11:12 pm

‘If you build’ not…if you big.

#133 DON on 01.05.22 at 10:43 pm

#74 I don’t know on 01.05.22 at 6:08 pm

Won’t happen. Too damaging politically, economically and won’t accomplish anything as houses become less (not more) affordable.

Most importantly, all these people crying for lower house prices, you watch how fast they change their tune when they become home owners themselves. As soon as the signature goes on the purchase agreement all this fake talk about equity and affordable housing will disappear. Human nature never changes, and the desire for space will always be the main priority. Tax or not.

The best bet has always been to build more, of course. Increase supply. Places like Toronto where there isn’t anywhere to build, plus a huge economy to boot? Zero chance any of this has any effect whatsoever. Buy when you are able.
*************

If you big more houses won’t speculation keep on sucking up additional properties.

Raising rates and putting the lending risks back on the banks is the peanut butter and jam. Why should the Cdn taxpayer take on the risk for an over indebted greedy homeowner or speculator wannabe.

Building more will keep Realtors in commission is that what you are going for?

#137 Long Term Care on 01.05.22 at 11:12 pm

Over 1000 workers in LTC homes have Covid?

145 Long Term Care homes in outbreak?

Glad to see we learned to protect this most vulnerable in this latest wave from previous waves.

When these fragile individuals die of starvation, thirst or loneliness in these locked down LTCs where no one is looking after them now, let’s make sure those military staff on the ground revelling this truth that conflicts with the “official report” are silenced as nut cases as was done last time.

And of course let’s be sure those deaths are put in the Covid column.

#138 Dr V on 01.05.22 at 11:15 pm

118 Wrk.dover

A trillion dollars. Ronald Reagan described it best

https://teachingamericanhistory.org/blog/a-stack-of-1000-bills-sixty-seven-miles-high/

#139 Russ on 01.05.22 at 11:16 pm

HUNGRY BEAR on 01.05.22 at 9:57 pm

For ALL the UN-VAXED……

You get COVID you pay for all yours and your household families (who you convinced to not get vaxed) medical treatment out of pocket 100%.

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

This is a satisfying position for most of the Karens and Nancys out there.

But of course, it will mark the end of universal health care. You might as well put the dark glasses over the vision that MP Tommy Douglas had for Canada and the Health Acts.

Let’s see, make the patient pay for private service but the system is legally obligated to reimburse cost “for amount if paid by provincial provider” same as if you get hurt outside of country and apply for reimbursement of expenses when you get home. A normal legal entitlement.

However, under your system the patient could obtain services in her own province and get reimbursed for not using the public system.

Yup. 2 tier medical on the way supported by the ignorant.

Cheers, R

#140 Ponzius Pilatus on 01.05.22 at 11:27 pm

Happy January 6th.
My fellow Americans

https://www.spiegel.de/fotostrecke/cartoon-des-tages-fotostrecke-142907.html#bild-2422866f-4825-4f74-8e8e-b00c8ed77812

#141 Ponzius Pilatus on 01.05.22 at 11:43 pm

#114 crowdedelevatorfartz on 01.05.22 at 9:16 pm
An elderly person required a trip by ambulance to St Paul’s hospital in downtown Vancouver after suffering a fall.

His apartment building is SIX blocks from St Paul’s Hospital.
How long did it take an emegrnecy ambulance to respond?
Middle of the week and the first call went in at 3:30pm in the afternoon.
Six hours.
The ambulance arrived at 9:30pm.

Opioid crisis?
Nah.
The entire Health care system is in crisis.
——————-
Sure.
One guy waiting for a ambulance.
Was released two hours after admittance.
The entire Health care system is in crises.

#142 mike from mtl on 01.05.22 at 11:46 pm

#135 O, HIP on 01.05.22 at 11:05 pm
/////////////////////////////////////////////////////////////

Exactly. Reality is not black & white we’d be so much better served if not ‘taking sides’ & mandates leads to a better outcome, but no. Ram down the fear and single solution down to everyone despite reality showing it’s not that simple.

The BS and FUD reach the clouds on both sides and that is further compounded by the ongoing campaign.

And no T2, I don’t give one fig about the unvaxed or that flight to Cancun. Fund the damn LTC and crappy public health before casting blame. On our knees at 200 ICU for 8+M, whilst example Charlotte NC has no restrictions or issues with the same hockey stick load.

#143 Ponzius Pilatus on 01.05.22 at 11:50 pm

#122 Michael in-north-york on 01.05.22 at 9:48 pm
#112 crowdedelevatorfartz on 01.05.22 at 9:10 pm

All unvaccinated should be charged with the cost of their hospitalisation.
===

If the hospitals refuse to serve them free of charge, then they must be allowed to keep the portion of their income taxes that pays for the hospitals.
————————
You guys are two financial geniuses.
To implement your system, it would cost more to hire inspectors than it would save on taxes and health care costs.

#144 Renter on 01.06.22 at 12:01 am

Taxing an unproductive asset that price have gone up like a hockey stick versus productive assets like stocks (cap gains) seems fair to me.

People living in expensive homes they no longer need since kids have moved away are part of the issue in this country. They sit in their big, empty, expensive homes and it’s value keeps increasing.

Hopefully this get some of these people to move and create supply that is needed in this market.

Buyers, well, it is their choice buying such a home and they also choose to pay this new tax.

#145 Ponzius Pilatus on 01.06.22 at 12:10 am

#138 Dr V on 01.05.22 at 11:15 pm
118 Wrk.dover

A trillion dollars. Ronald Reagan described it best

https://teachingamericanhistory.org/blog/a-stack-of-1000-bills-sixty-seven-miles-high/
——————-
I checked your link.
It leads to Ashland University.
A right wing Christian University.
Is that where you got your Doctorate?

#146 Sail Away on 01.06.22 at 12:15 am

#129 DonJuan on 01.05.22 at 10:04 pm

#oil. Would be interesting if AB went Norway’s route and put O&G resources to back a sovereign wealth fund (kind of like Heritage Fund used to have). Comparison is pretty simple. Norway’s population 5.4 million, AB 4.4 mill. Do Texans have an SOW? (Sov. Wealth. ). IDK what Norwegians call theirs.

———–

Alaska has had the Permanent Fund since 1976 that pays annual dividends to all residents, usually between $1,000 to $2,000. Very nice.

Yes, Alberta should do similar to retain wealth.

https://en.m.wikipedia.org/wiki/Alaska_Permanent_Fund

#147 other guy in Vancouver on 01.06.22 at 12:39 am

I give up. This government has lost its mind. I’m leaving.

#148 All lies and manipulated u decide on 01.06.22 at 12:57 am

The great reset looks like T2 fell on the nuke button.
Nothing is going back to the way it was and that was what we called normal.
Garth the taxes are Fricking mind boggling.
Stupid stupid peeps at the helm.

#149 Anne in NV on 01.06.22 at 1:29 am

Dolce!
Where are you? I enjoy reading your comments. Hope you haven’t succumbed to Covid. If people don’t like you flair of info, let them skip over them…

#150 R on 01.06.22 at 1:34 am

123 faron:
Eat your heart out!

#151 millmech on 01.06.22 at 2:39 am

#91 Faron
I am pretty well out of it after last years fun, kept a small amount of shares for nostalgia, set aside 80k for taxes, put the rest in HCAL in March.

#152 millmech on 01.06.22 at 3:06 am

Fun times in Chilliwack ,actually funny neighborhood.
https://www.youtube.com/watch?v=GTxI2nJ4lN4

#153 Great Smoking Bull on 01.06.22 at 3:27 am

It’s always been the law that capital gain tax applies to house sales under 12 months. The problem has been that the law has been unevenly applied. The “law” is politically correct. Some are subjected to it, some aren’t.

Persons with an interest in driving for or using UBER in BC ask the same question. “ Why these laws for some and not all”? It seems that some votes (in Liberal seats) have more power/ relevance than others.

However, enforcement is also unevenly applied depending on the ‘who’, like in Richmond BC, where another community got so tired of waiting for a decision on UBER that individual entrepreneurs set up an underground private car system ( which works really well if you speak Mandarin) but the government won’t apply the law based on the voting identifier in that seat. This community openly publicly defies the law. The seat is more important. French and English signs or labels on foods or products. Try that in Saskatchewan.

Canada is being Balkanized and power traded for votes to the point of open lawlessness , where seats are more important than democracy.

And, you missed mentioning Chilliwack, a scary town that often gets forgotten which has appreciated more than 40% in the past year.

#154 under the radar on 01.06.22 at 5:32 am

400,000 new immigrants each year. 260k housing starts. 20 percent year over year gains in house prices. Assume a 40% crash which takes 416 prices back 2 years. There is a solid floor to values which only gets undone when real estate becomes a dirty word and nobody wants it.

#155 Wrk.dover on 01.06.22 at 7:30 am

Did anyone notice the property tax on Sail Away’s link was under $1000/yr?

Crowd the cities Lemmings!

#156 Immigrant man on 01.06.22 at 7:56 am

#134 DON on 01.05.22 at 11:05 pm
https://globalnews.ca/news/8489570/kazakhstan-protests-anti-government-president/ Raise gas prices in an oil rich nation and the gov resigns.
——————

There are Putin’s hands all over this. Sends his troops for “help” immediately. Before EU and US can even draft a memo of “concern”.
https://www.rferl.org/a/kazakhstan-deadly-protests-russian-troops/31642006.html

#157 Phylis on 01.06.22 at 8:32 am

CHMC should ask for a refund.

#158 Serge on 01.06.22 at 9:16 am

For ALL the UN-VAXED……

You get COVID you pay for all yours and your household families (who you convinced to not get vaxed) medical treatment out of pocket 100%.

And your employer FIRES YOU because you won’t get VAXED so ZERO unemployment.

Its time to REWARD those who took the risk for the rest of mankind and did their part to get vaxed.

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

Not sure why such a hate speech comment is not deleted. Garth, are you supporting his rhetoric? Besides, that person said getting vaxxed was a risk. Flag it as anti ax at least.

#159 Slim on 01.06.22 at 9:21 am

#129 DonJuan on 01.05.22 at 10:04 pm

#oil. Would be interesting if AB went Norway’s route and put O&G resources to back a sovereign wealth fund (kind of like Heritage Fund used to have). Comparison is pretty simple. Norway’s population 5.4 million, AB 4.4 mill. Do Texans have an SOW? (Sov. Wealth. ). IDK what Norwegians call theirs.
__________________________________________

As for comparing the two; the only thing Alberta and Norway have in common is lousy weather.

#160 Mr Canada on 01.06.22 at 9:24 am

I ask this question to my “progressive” friends all the time, “where does Justin’s spending come from?”

#161 Midnights on 01.06.22 at 9:25 am

To TurnerNation…
The gentleman you’re quoting from Twitter, is just reporting what’s already out there. The issue being, come January 15, 2022. Supposedly unvaccinated truckers won’t be allowed to enter Canada. Which will certainly freeze up everything we get by trucks. The other issue, as we speak being prepared for the Supreme Court. Is that Biden, is trying to force truckers to get vaccinated. Plus to add more pain to injury each state has its own rules and regulations in regards to vaccination mandates.

#162 Novak Djokovic on 01.06.22 at 9:25 am

A prediction.

Novak Djokovic will enter Australia and will play at the Australian Open.

By the way…Australian Open? Hmmm…now quite THAT open that Australia is.

#163 Penny Henny on 01.06.22 at 9:27 am

#135 O, HIP on 01.05.22 at 11:05 pm
//////////

Thank you for expressing this in words that I could not.
I agree 100%

#164 Dharma Bum on 01.06.22 at 9:31 am

#89 The Jaguar

I like this stylish black and white of Zeus, former lion of the streets of Taber, Alberta where some of the world’s best corn is grown and coveted by those in the ‘know’.
——————————————————————————————————

Haha – got me some delicious Taber corn on my last jaunt out west in August. Must have scarfed down a dozen ears.

That there is mmmmm…mmmmmm…good stuff.

Guess I’m one of those “in the know”.

Heading back to Red Deer tomorrow. A tad frosty now, so I hear. No matter – I am looking forward to the warmth and glow of freedom as a change of scenery from the cold hearted and vicious lockdown culture of Ontario. That’s why I booked a one way ticket this time. I’ll return when the mentally ill so-called leaders here return to their menial senses.

I take comfort in the knowledge that if this proposed oppressive tax on house ownership ever does become a reality (doubtful – but ya nevah know) I can move to Alberta and live like royalty on a manse like estate spread for a fraction of the cost of what my Toronto “shack” costs.

I’ll spend the leftover ching on Taber corn.

The future looks bright.

#165 January 6th Recap on 01.06.22 at 9:33 am

If you want to see a real insurrection, look at what’s happening today in Kazakhstan. Guns, rioting, looting, killings. Or was that Portland? Seattle? Minneapolis? Hard to tell these days.

No matter how hard the Democrats try to gaslight you, a bunch of guys dressed up like the Village People while smoking cigars and taking selfies in Nancy Pelosi’s office doesn’t cut it.

Stupid? Absolutely. A danger of overthrowing the largest military in the world? Not so much.

The more the Democrats push the insurrection narrative the dumber and weaker they look.

January 6th. The day the U.S. started taking political prisoners. Shame on you Democrats!

#166 Wisdom - from Two and a Half Men on 01.06.22 at 9:59 am

Saw this on Two and a Half Men. Great writing on that show. Totally holds up.

Now don’t get me wrong, this is clearly NOT better than when Charlie’s Mother says “I think God gives us children so that death won’t come as such a disappointment.”, but as far as cars go – something that was discussed at length here – it is clearly wisdom. Wise wisdom.

>>>>>>

Mia: Well, just so you know, I’m not with you for your house or your money.

Charlie: So it’s the car.

Mia: Why would I care about your car?

Charlie: It’s an $80,000 Mercedes.

Mia: Yeah, so what does it do that other cars don’t do?

Charlie: It costs $80,000!

#167 Michael in-north-york on 01.06.22 at 10:03 am

#143 Ponzius Pilatus on 01.05.22 at 11:50 pm

#122 Michael in-north-york on 01.05.22 at 9:48 pm
#112 crowdedelevatorfartz on 01.05.22 at 9:10 pm

All unvaccinated should be charged with the cost of their hospitalisation.
===

If the hospitals refuse to serve them free of charge, then they must be allowed to keep the portion of their income taxes that pays for the hospitals.
————————
You guys are two financial geniuses.
To implement your system, it would cost more to hire inspectors than it would save on taxes and health care costs.
===

True. Therefore, my strong preference is to retain the integrity of health care coverage and not treat the unvaccinated as an underclass.

However, some covidophobiacs insist on charging them for services that everyone else gets for free. I am pointing out that in such case, tax adjustments will have to be made.

#168 crowdedelevatorfartz on 01.06.22 at 10:15 am

@#143 Ponzies Peanut gallery Praise
You guys are two financial geniuses.”

+++

Your praise is like perfume in an elevator.
Tolerated but unappreciated.

#169 crowdedelevatorfartz on 01.06.22 at 10:17 am

If anyone has invested in Tattoo parlors….
Ya might wanna dump your stock.

https://www.bbc.com/news/world-europe-59871779

#170 crowdedelevatorfartz on 01.06.22 at 10:20 am

The gremlin Inflation is grabbing 2022 by the neck.

Anyone in the lower Brainland might want to fill up with gas.
Rumor is the large refineries in the western US are down for maintenance and there will be shortages due to increased consumption.

Fuel may jump from $1.65 litre to $1.75 in a week or so.

#171 DON on 01.06.22 at 10:32 am

#156 Immigrant man on 01.06.22 at 7:56 am
#134 DON on 01.05.22 at 11:05 pm
https://globalnews.ca/news/8489570/kazakhstan-protests-anti-government-president/ Raise gas prices in an oil rich nation and the gov resigns.
——————

There are Putin’s hands all over this. Sends his troops for “help” immediately. Before EU and US can even draft a memo of “concern”.
https://www.rferl.org/a/kazakhstan-deadly-protests-russian-troops/31642006.html

*******

And then there is this
https://www.rt.com/russia/545254-psaki-denies-us-kazakhstan-role/

All games except for those who become collateral damage.

Collateral damage now there’s a blog subject in so many ways.

@ Yukon Elvis

Thanks for the reminder about the Russian air base in Syria totally slipped my mind.

#172 crowdedelevatorfartz on 01.06.22 at 10:54 am

Speaking of rising Gas.

In Canada we sheeple take the price hikes with a whimper and barely a complaint.

In Kazakhstan they burn the Presidential Residence and decapitate soldiers.

https://www.reuters.com/world/asia-pacific/troops-protesters-clash-almaty-main-square-kazakhstan-shots-heard-2022-01-06/

Meanwhile in politically correct western world we argue about the merits of “Gay Wedding Cakes” all the way to the Supreme Court…

https://www.reuters.com/world/uk/european-court-rules-northern-ireland-gay-cake-case-inadmissible-2022-01-06/

#173 the Jaguar on 01.06.22 at 10:57 am

@168 CEF – re your link and this stat:
‘The EU estimates that up to 12% of Europeans have a tattoo, and it could be double that amongst young adults. In Germany alone as many as one in five people are estimated to have a tattoo, while in Belgium the government believes 500,000 new tattoos are inked every year.’

How revolting. Wonder what the statistics are for north americans? Tattoos. So much one could say, most of which would incite rage among the devotees…..
Ugh. For cannibals, pirates and felons….

#174 Pete on 01.06.22 at 10:59 am

#135 post nailed it perfectly!

#175 Diet Vocal on 01.06.22 at 11:13 am

#149 Anne in NV on 01.06.22 at 1:29 am
Dolce!
Where are you? I enjoy reading your comments. Hope you haven’t succumbed to Covid. If people don’t like you flair of info, let them skip over them…

>>>>

He misplaced his Green Pass somewhere. Spent the day in line trying to get a replacement.

If he’s over 50, he’s been mandated to get a booster, so he was in line getting it yesterday. Cell towers in the area were overloaded, so he couldn’t report in.

He was on a plane yesterday, so he could be in Washington, D.C. on January 6th…a quick trip to visit the sights.

#176 the Jaguar on 01.06.22 at 11:19 am

@#164 Dharma Bum on 01.06.22 at 9:31 am
You’ll only have a couple of colder days Dharma Bum. It warms up nicely next week. Just for you.

https://weather.gc.ca/city/pages/ab-52_metric_e.html

#177 millmech on 01.06.22 at 11:30 am

#124
It is the unhealthy people with underlying medical conditions who are stressing out the system, always has been so if you have any unhealthy habits which can easily show up in a quick blood test no “health” care for you because you have not done your part.
It is a health care system and your part of the equation is to be as healthy as possible and avoid excess smoking, drinking, crappy food and being lethargic.

#178 Josh in Calgary on 01.06.22 at 11:30 am

#129 DonJuan on 01.05.22 at 10:04 pm#129 DonJuan on 01.05.22 at 10:04 pm
#oil. Would be interesting if AB went Norway’s route and put O&G resources to back a sovereign wealth fund (kind of like Heritage Fund used to have). Comparison is pretty simple. Norway’s population 5.4 million, AB 4.4 mill. Do Texans have an SOW? (Sov. Wealth. ). IDK what Norwegians call theirs.
———————
For starters, Alberta did originally do this and Norway got their idea from us. They have stated as much. They just stuck with it much better while Alberta chose to subsidize tax payers by keeping taxes artificially low. Maybe not the smartest, but it sure did win a lot of votes for the conservatives along the way.

HOWEVER, You also must consider that you are comparing a country to a province. As a country Norway pays exactly $0 to other countries as equalization payments. Alberta has paid around $20 billion a year in equalization payments. If Alberta wasn’t obligated to make these we could theoretically have a very substantial wealth fund. Theoretically because it assumes the politicians wouldn’t have wasted it.

#179 Jan 6th on 01.06.22 at 11:40 am

Wait a minute!

Biden is at the Capitol to commemorate the first anniversary of the Jan. 6 insurrection?!?

I’m confused.

Is he commemorating…Trump supporters?

Did you guys see Biden on Tonight Show via heavily edited video link? Post production must have had a field day with that task…and yet it still left me highly concerned that THIS was the leader of the free world.

It’s not being talked about , but it is glimpses like that, which surely confirm his health is not well.

Left me wondering if Biden can make it to the end of this term. After all, just 1 year has passed…3 more to go.

Wishing him well, as one human to another.

#180 Brett in Calgary on 01.06.22 at 11:46 am

At least part of the reason for all these taxes appears to be because the central banks don’t have the stones (or maybe they just know we’re hooped) to raise interest rates substantially. That’s all the “tax” that’s needed to deflate this sucker… and if done gentle enough it might even work without a significant crash.

I recommend reading Ray Dalio’s new book: he sees the US in the final innings of their empire based on financial and internal/external stability indicators. One of the big signs of weakness is exploding debt. Sounds like us, no?

#181 Yuus bin Haad on 01.06.22 at 11:58 am

Yup, nuthin’ like getting the academics involved

#182 Ponzius Pilatus on 01.06.22 at 12:04 pm

#164 Dharma Bum
You’re a good example of:
“A man gotta dream”.
Born in the wrong time and place.
Not realizing that “freedom” is a dream.
Is the snow whiter in Alberta than in other places?
Pretty sad.

#183 Shawn on 01.06.22 at 12:07 pm

Albert versu Norway wealth fund

#178 Josh in Calgary on 01.06.22 at 11:30 am
#129 DonJuan on 01.05.22 at 10:04 pm#129 DonJuan on 01.05.22 at 10:04 pm
———————
For starters, Alberta did originally do this and Norway got their idea from us. They have stated as much. They just stuck with it much better while Alberta chose to subsidize tax payers by keeping taxes artificially low. Maybe not the smartest, but it sure did win a lot of votes for the conservatives along the way.

HOWEVER, You also must consider that you are comparing a country to a province. As a country Norway pays exactly $0 to other countries as equalization payments. Alberta has paid around $20 billion a year in equalization payments. If Alberta wasn’t obligated to make these we could theoretically have a very substantial wealth fund. Theoretically because it assumes the politicians wouldn’t have wasted it.

*************************
100% agree with your first paragraph last sentence. Needs to be said much more often.

As to equalization it comes out of federal tax. But, could Alberta be a country and keep ALL the federal income tax collected here? Highly doubt it. Land locked etc. It’s part of Canada live with that. Also there can be no accurate track of what the Feds really spend in and on behalf of Alberta. Do you see that segmentation in the federal budget? Those are made up numbers when people talk about how much federal money comes back to Alberta. But yes equalization is real though it comes out of federal taxes strictly.

The other reason Norway amassed the fund is that to get their oil they stick a straw in the ground under the sea and it flows out nice and clean. Alberta has to turn oily sand into oil. Imagine the different profit margin.

#184 James on 01.06.22 at 12:10 pm

Trudeau and his bag of worthless slugs are out for a tax grab pure and simple. He will take the money and use it for some foreign charity case around the world so he can get some TV time and show his two faces.
BTW I was going to say that Trudeau is about as useful as the slime under a slug but alas that slime is actually very useful for the traction needed to propel a slug as well as warding off bacteria and diseases. So cheers to slug slime your more useful than our current PM.

#185 Ponzius Pilatus on 01.06.22 at 12:11 pm

172 crowdedelevatorfartz on 01.06.22 at 10:54 am
Speaking of rising Gas.

In Canada we sheeple take the price hikes with a whimper and barely a complaint.

In Kazakhstan they burn the Presidential Residence and decapitate soldiers.

https://www.reuters.com/world/asia-pacific/troops-protesters-clash-almaty-main-square-kazakhstan-shots-heard-2022-01-06/
———————
Are you saying we should burn down Parliament, because we can’t afford to fill up our F-150s?

#186 Faron on 01.06.22 at 12:15 pm

#163 Sail Away on 01.05.22 at 3:41 pm

Oh, okay. But I don’t think I heard your NQ comparison then, but it’s okay to bring it in now? Changing the parameters of your glee to save face? In that case I can also compare the TSLA weekly performance to whatever I want. Like XLF…

And it’s awesome that there is some good battery tech being developed (insofar as your article isn’t just a hype ad. And do you really read that junk? How does clippy tolerate the typos?). Exactly zero surprise the development is not being done at TSLA. Why? Because TSLA spends a tiny fraction of revenues on R+D. A pittance compared to real automakers. And Elon is not an engineer. Roughly zero good ideas come from his “mind”.

#187 Vital Code on 01.06.22 at 12:15 pm

#175 Diet Vocal on 01.06.22 at 11:13 am
#149 Anne in NV on 01.06.22 at 1:29 am

Dolce!
Where are you? I enjoy reading your comments. Hope you haven’t succumbed to Covid. If people don’t like you flair of info, let them skip over them…

———

He misplaced his Green Pass somewhere. Spent the day in line trying to get a replacement.

If he’s over 50, he’s been mandated to get a booster, so he was in line getting it yesterday. Cell towers in the area were overloaded, so he couldn’t report in.

He was on a plane yesterday, so he could be in Washington, D.C. on January 6th…a quick trip to visit the sights.

———

He was Covid balcony singing, leaned over to kiss the pretty lady next door and fell three stories

He told a group of three Russians that they were barbarians with terrible taste, so they gave him a swim in the fountain and he’s busy keyboard-warrioring against Russia

He misplaced his Tilley hat so is blowing up all the online shopping and auction sites trying to find a replacement

#188 Satori on 01.06.22 at 12:15 pm

#147 other guy in Vancouver on 01.06.22 at 12:39 am
I give up. This government has lost its mind. I’m leaving.
_________________________
I’m already packed, pick me up at noon.

#189 James on 01.06.22 at 12:17 pm

#177 millmech on 01.06.22 at 11:30 am

#124
It is the unhealthy people with underlying medical conditions who are stressing out the system, always has been so if you have any unhealthy habits which can easily show up in a quick blood test no “health” care for you because you have not done your part.
It is a health care system and your part of the equation is to be as healthy as possible and avoid excess smoking, drinking, crappy food and being lethargic.
____________________________________________
If you are implying that vaccinated people are not the problem at ICUs and hospitals I can assure you that the overwhelming number of hospital admissions roughly 76% are unvaccinated and that underlying issues are spread out evenly across the vaccinated and unvaccinated. It is just simple math that provides data showing the greater portion of 76% of unvaccinted are with are clogging up the hospitals with or without underlying issues.

#190 DON on 01.06.22 at 12:17 pm

https://financialpost.com/news/economy/canadians-prefer-rate-hikes-during-highest-inflation-since-2003

#191 Faron on 01.06.22 at 12:20 pm

#178 Josh in Calgary on 01.06.22 at 11:30 am
#129 DonJuan on 01.05.22 at 10:04 pm#129 DonJuan on 01.05.22 at 10:04 pm

Equalization payments are a myth. From a 2018 TO Star article:

The money actually comes out of federal taxes paid by individuals and businesses across Canada, and then is distributed by the federal government based on need.

“There is no such thing as an equalization payment. Alberta does not send a lump of money to Ottawa in an envelope marked ‘equalization,’” Wesley said.

#192 Ponzius Pilatus on 01.06.22 at 12:22 pm

#178 Josh in Cowtown.
HOWEVER, You also must consider that you are comparing a country to a province. As a country Norway pays exactly $0 to other countries as equalization payments. Alberta has paid around $20 billion a year in equalization payments. If Alberta wasn’t obligated to make these we could theoretically have a very substantial wealth fund. Theoretically because it assumes the politicians wouldn’t have wasted it.
———————
Good comment.
Reminds me of the bumper sticker:
“Oh Lord, give us another Heritage Fund.
We promise we will not piss it away again”

#193 HUNGRY BEAR on 01.06.22 at 12:25 pm

#158 Serge on 01.06.22 at 9:16 am
For ALL the UN-VAXED……

You get COVID you pay for all yours and your household families (who you convinced to not get vaxed) medical treatment out of pocket 100%.

And your employer FIRES YOU because you won’t get VAXED so ZERO unemployment.

Its time to REWARD those who took the risk for the rest of mankind and did their part to get vaxed.

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

Not sure why such a hate speech comment is not deleted. Garth, are you supporting his rhetoric? Besides, that person said getting vaxxed was a risk. Flag it as anti ax at least
———————–

Were into a PANDEMIC here. There is a way to put a big dent in this but the UN-VAXED are ruining that for the rest of society. Time to reward those that have joined the fight. The rest we’ll leave to fend for themselves. This is a war were fighting …… it’s mankind vs. a virus. Who do you want to win?

#194 Ponzius Pilatus on 01.06.22 at 12:31 pm

#184 James on 01.06.22 at 12:10 pm
Trudeau and his bag of worthless slugs are out for a tax grab pure and simple. He will take the money and use it for some foreign charity case around the world so he can get some TV time and show his two faces.
BTW I was going to say that Trudeau is about as useful as the slime under a slug but alas that slime is actually very useful for the traction needed to propel a slug as well as warding off bacteria and diseases. So cheers to slug slime your more useful than our current PM.
—————————
Thanks, James.
For reminding us that we all come from primal slime.
And you’re a prime example of it.

#195 Covid Latte on 01.06.22 at 12:44 pm

#187 Vital Code on 01.06.22 at 12:15 pm
#175 Diet Vocal on 01.06.22 at 11:13 am
#149 Anne in NV on 01.06.22 at 1:29 am

Dolce!
Where are you? I enjoy reading your comments. Hope you haven’t succumbed to Covid. If people don’t like you flair of info, let them skip over them…

——–

He misplaced his Green Pass somewhere. Spent the day in line trying to get a replacement.

If he’s over 50, he’s been mandated to get a booster, so he was in line getting it yesterday. Cell towers in the area were overloaded, so he couldn’t report in.

He was on a plane yesterday, so he could be in Washington, D.C. on January 6th…a quick trip to visit the sights.

——–

He was Covid balcony singing, leaned over to kiss the pretty lady next door and fell three stories

He told a group of three Russians that they were barbarians with terrible taste, so they gave him a swim in the fountain and he’s busy keyboard-warrioring against Russia

He misplaced his Tilley hat so is blowing up all the online shopping and auction sites trying to find a replacement

——–

He was working through a tricky Excel problem and is stuck in a repeating ‘does not compute’ loop

He complimented an online ally, but then realized they were American, so is serving a self-imposed internet ban

His DNA test came back showing Venezuelan heritage so he and Sail Away now post as a team

#196 Immigrant man on 01.06.22 at 12:56 pm

#171 DON on 01.06.22 at 10:32 am

RT is the official mouthpiece of the kremlins. I would be surprised if Putin didn’t play “western interference” card – it’s a staple. What is more likely is that this is a play against the expanding neo-Ottoman empire. But they are friends in the other parts of the world like Caucasus and Syria happily dividing and conquering, so no bad words for each other. But you knew this tovarisch Don, didn’t you?

#197 locator on 01.06.22 at 1:01 pm

Perhaps no one picked up that Dolce posted his comments as “Søren Angst”?

#198 Russ on 01.06.22 at 1:13 pm

Covid Latte on 01.06.22 at 12:44 pm

#187 Vital Code on 01.06.22 at 12:15 pm
#175 Diet Vocal on 01.06.22 at 11:13 am
#149 Anne in NV on 01.06.22 at 1:29 am

Dolce!
Where are you? I enjoy reading your comments. Hope you haven’t succumbed to Covid. If people don’t like you flair of info, let them skip over them…
——–
He misplaced his Green Pass somewhere. Spent the day in line trying to get a replacement.
If he’s over 50, he’s been mandated to get a booster, so he was in line getting it yesterday. Cell towers in the area were overloaded, so he couldn’t report in.
He was on a plane yesterday, so he could be in Washington, D.C. on January 6th…a quick trip to visit the sights.
——–
He was Covid balcony singing, leaned over to kiss the pretty lady next door and fell three stories
He told a group of three Russians that they were barbarians with terrible taste, so they gave him a swim in the fountain and he’s busy keyboard-warrioring against Russia
He misplaced his Tilley hat so is blowing up all the online shopping and auction sites trying to find a replacement
——–
He was working through a tricky Excel problem and is stuck in a repeating ‘does not compute’ loop
He complimented an online ally, but then realized they were American, so is serving a self-imposed internet ban
His DNA test came back showing Venezuelan heritage so he and Sail Away now post as a team

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

Dolce was spotted down at the beach, watching the naked Swedes.

#199 crowdedelevatorfartz on 01.06.22 at 1:16 pm

@#173 The jag.
“Wonder what the statistics are for north americans? Tattoos.”

++++

Depends on age.
Anyone under the age of 45 without a tattoo is a rare bird.

I shake my head at young kids with their entire arms or necks or what ever covered in Tats.
Proof that most people never stop at one tat once they breach the decision to get that first one…

Tastes change and I know of people in their 40’s that have spend thousands on removals, reinks for faded tats, and or cover up tats.
( my fave was years ago …a friends Dad who had “Betty” on his arm and his wife’s name was Jean…).

Yep.
Invest in Tattoo removal laser therapy….it could be the new “thing”.

#200 crowdedelevatorfartz on 01.06.22 at 1:20 pm

Vancouver’s bumbling bureaucrats making life harder for the homeless.

https://vancouver.citynews.ca/2022/01/05/vancouver-single-use-meal-vouchers/

#201 Load Evict on 01.06.22 at 1:27 pm

#195 Covid Latte on 01.06.22 at 12:44 pm
#187 Vital Code on 01.06.22 at 12:15 pm
#175 Diet Vocal on 01.06.22 at 11:13 am
#149 Anne in NV on 01.06.22 at 1:29 am

Dolce!
Where are you? I enjoy reading your comments. Hope you haven’t succumbed to Covid. If people don’t like you flair of info, let them skip over them…

——–

He misplaced his Green Pass somewhere. Spent the day in line trying to get a replacement.

If he’s over 50, he’s been mandated to get a booster, so he was in line getting it yesterday. Cell towers in the area were overloaded, so he couldn’t report in.

He was on a plane yesterday, so he could be in Washington, D.C. on January 6th…a quick trip to visit the sights.

——–

He was Covid balcony singing, leaned over to kiss the pretty lady next door and fell three stories

He told a group of three Russians that they were barbarians with terrible taste, so they gave him a swim in the fountain and he’s busy keyboard-warrioring against Russia

He misplaced his Tilley hat so is blowing up all the online shopping and auction sites trying to find a replacement

——–

He was working through a tricky Excel problem and is stuck in a repeating ‘does not compute’ loop

He complimented an online ally, but then realized they were American, so is serving a self-imposed internet ban

His DNA test came back showing Venezuelan heritage so he and Sail Away now post as a team

——–

I’m trying, but I can’t stop laughing at the ones already here. SOOOO GOOD!

#202 DON on 01.06.22 at 1:34 pm

#196 Immigrant man on 01.06.22 at 12:56 pm
#171 DON on 01.06.22 at 10:32 am

RT is the official mouthpiece of the kremlins. I would be surprised if Putin didn’t play “western interference” card – it’s a staple. What is more likely is that this is a play against the expanding neo-Ottoman empire. But they are friends in the other parts of the world like Caucasus and Syria happily dividing and conquering, so no bad words for each other. But you knew this tovarisch Don, didn’t you?

********

Yup I know…and I know about RT’s agenda also.

The pointing fingers is a ploy…who is lying that’s the question. All involved, want the territory and oil.
Friend but not comrade.

My loyalty is with the good folks in all Countries…

#203 BlogDog123 on 01.06.22 at 1:55 pm

re: #87 Comment on a comment on 01.05.22 at 7:15 pm

===

No, it’s a great suggestion. Supply of people coming to GTA won’t be solved until we increase supply of housing to where people want to live and be close to work.

Be creative: split those wide lots into two properties… My old neighbourhood with 60′ lots just gets a monster home to replace the 50’s era home. No splitting allowed by current NIMBYism bylaws. Meanwhile the neighbourhood is filled with single retirees on big lots, using one bedroom, the land is under-utilized for the demand we have…

Lots of room in Canada if we’re creative about it… Politicians get re-elected if the keep propping up NIMBY laws.

#204 crowdedelevatorfartz on 01.06.22 at 1:55 pm

Perhaps Dolce is in … jail?

https://www.vice.com/en/article/m7v79v/notorious-mafia-fugitive-caught-chilling-on-google-street-view

#205 dragonfly58 on 01.06.22 at 1:56 pm

Regardless of a persons view on immigration, the housing cost is only the tip of the iceberg. It’s the infrastructure spending that comes along with a given area’s population growth that costs the serious money.
And when you look at the big picture through the climate change lens the costs of an increased population explode over the long term.
The general public is taxed close to the tipping point. The real question should be ” can we afford any increase in population until Canada’s financial house is in order”.
Not anti immigrant, just looking squarely at a economic reality. I get it that there are people desperate enough somewhere in the world to Come to Canada and do crap work for peanuts.
But all that is doing is making somewhere high up in the food chain wealthy at the expense of everyone else. Average Canadians and prospective immigrants alike.
Pay a decent wage for menial work and people already here will fill the positions.
Increasing the population by whatever cause , immigration or otherwise , eventually does all of us in. The world can’t keep increasing the size of the overall population indefinitely. True disaster is the only logical end point tn this path.

Jingoistic, selfish, myopic isolationism. Not what Canada is about. – Garth

#206 Sail Away on 01.06.22 at 2:12 pm

#198 Russ on 01.06.22 at 1:13 pm

Dolce was spotted down at the beach, watching the naked Swedes.

———

‘Frolicking with’ may be more accurate?

#207 R on 01.06.22 at 2:13 pm

186 Faron:
You must be an MBA type, the same thinking that is getting legacy autos into trouble over BEVs. I understand their thinking, I have one myself, but formostly, I am an engineer. This is why I am confident Tesla will be the most valuable company by market cap some where around 2026-8 time frame. Don’t bet against Elon.

#208 Lorne on 01.06.22 at 2:27 pm

@168 CEF – re your link and this stat:
‘The EU estimates that up to 12% of Europeans have a tattoo, and it could be double that amongst young adults. In Germany alone as many as one in five people are estimated to have a tattoo, while in Belgium the government believes 500,000 new tattoos are inked every year.’

How revolting. Wonder what the statistics are for north americans? Tattoos. So much one could say, most of which would incite rage among the devotees…..
Ugh. For cannibals, pirates and felons….
……
Another example of “peer pressure” encouraging bad decisions. I enjoy watching the NBA, which is a big “tat” league, and looking at who is mature enough to NOT get a tat (at least a visible one). For example, Steve Nash did not have any tattoos…also,Giannis, Chris Paul, Joel Embiid, Jimmy Butler, James Harden, Nikola Jokic, Klay Thompson, Russell Westbrook & Kyle Lowry to name a few, have chosen to be “tatooless”. Apparently, about 56% of NBA players do have tats.

https://www.si.com/nba/2020/04/06/nba-2k-ruling-tattoo-artists

#209 IHCTD9 on 01.06.22 at 2:58 pm

#185 Ponzius Pilatus on 01.06.22 at 12:11 pm
172 crowdedelevatorfartz on 01.06.22 at 10:54 am
Speaking of rising Gas.

In Canada we sheeple take the price hikes with a whimper and barely a complaint.
____

I don’t disagree, but among the sheep there are still a few crusty old buggers who unloaded their gas guzzler 3/4 tons and bought fuel sipping pre-emissions diesel trucks instead. They now use half the fuel they used to, and fuel up on the Rez with “Reduced-Trudeau diesel” for 1.21/L.

#210 East Coast Chloe on 01.06.22 at 3:00 pm

I’m so glad you’re here, Garth. We need people like you.

Can we talk about the train wreck of how there isn’t a single deep or coherent thought coming out of the CBC or from any govt in this country for that matter?

Our govts barely even follow the science anymore. They’ve blown it all so badly, everything’s now delivered on a wing and a prayer by various officials answering low ball questions from tepid news reporters through a video screen from the safety of their own homes.

“Wear better masks” the top doc urged, but didn’t say how or where to get them. Where’s all the Canadian PPE? (On back order.) N95’s aren’t available to most folk. Have you spotted your essential grocery store clerk wearing one lately? So, who was the message for?

“Test often, test only when symptomatic, no need to test, assume positive status, 5 days is good enough, 10 if you’re not vaxxed.” They’ve thrown their hands up in the air and given up. Why even come on TV anymore?

Was it too much to ask for consistency? The federal govt is weak and ineffective and the provinces can’t be trusted to manage their own health care if our lives depended on which they do and they haven’t. The healthcare system they keep insisting we must “protect” going on 3 years later, (after they all routinely gutted it during the past 4 decades – 10 yrs. for a knee replacement anyone?) is no longer able to manage anything but Covid. Good luck out there they may as well add. If you need serious medical care, you may be out of luck. Expect a mass of deaths post this disaster from the millions unable to get routine and/or essential medical care during this healthcare hiatus. Our public system doesn’t work and hasn’t for a long time.

We all voted in a bunch of wrong people and that needs to be corrected as soon as possible. In the meantime, don’t listen to your govts; they’re all lying.

#211 crowdedelevatorfartz on 01.06.22 at 3:16 pm

@#208 Lorne.
Interesting.
Estimate of 47% of US millenials have tats…
Faron.
Sailio.
Care to comment?
( what am I thinking?)

#212 Dr V on 01.06.22 at 3:17 pm

145 Ponz – I remember hearing Reagan’s description on
the radio at the time. Googled it (had the number slightly wrong) and that link popped up. I opened it, reviewed the first paragraph and pasted the link.

I thought it was a good visualization, and provided it
mainly for entertainment purposes.

Quit looking under the bed for right wing Christian extremists.

Time for a refresher on disclaimers.

Not really a doctor
Dont have a doctorate
Not a vampire.
Not a right wing extremist. More like small ‘c’
conservative. If such a political creature still exists.

#213 MakeHousesGreatAgain on 01.06.22 at 3:18 pm

Did anyone mentioned ‘job losses’?

Here is a recent prophecy, introductory speech to Bill C-237 about UBI (called Guaranteed Basic Income)

“Indeed, the world of work is changing faster than ever before. More workers are shifting to the gig economic, there are more temporary and short-term jobs, and many jobs, whether blue collar or white collar, are being eliminated by automation and artificial intelligence. In addition, disruptions in our economy are happening at an accelerated rate, faster and more frequently, leaving more Canadians working harder, longer and feeling like it is more difficult to get ahead.

Throughout history, humans have had to adapt to major disruptions like the ones we are going through now, which include COVID and the move to digital economy, among many others, and we eventually do adapt. However, the period of change can be harsh, even ruthless, leaving countless workers behind, with many never recovering. Our social safety net is not well designed to help Canadians through transitions, so in my opinion we need a new model, one that provides stability to those who have been trapped in a cycle of poverty, to those who are in danger of falling into poverty and to the middle class threatened by disruption.”

https://openparliament.ca/debates/2021/6/14/julie-dzerowicz-1/

#214 KLNR on 01.06.22 at 3:20 pm

@#208 Lorne on 01.06.22 at 2:27 pm
@168 CEF – re your link and this stat:
‘The EU estimates that up to 12% of Europeans have a tattoo, and it could be double that amongst young adults. In Germany alone as many as one in five people are estimated to have a tattoo, while in Belgium the government believes 500,000 new tattoos are inked every year.’

How revolting. Wonder what the statistics are for north americans? Tattoos. So much one could say, most of which would incite rage among the devotees…..
Ugh. For cannibals, pirates and felons….
……
Another example of “peer pressure” encouraging bad decisions. I enjoy watching the NBA, which is a big “tat” league, and looking at who is mature enough to NOT get a tat (at least a visible one). For example, Steve Nash did not have any tattoos…also,Giannis, Chris Paul, Joel Embiid, Jimmy Butler, James Harden, Nikola Jokic, Klay Thompson, Russell Westbrook & Kyle Lowry to name a few, have chosen to be “tatooless”. Apparently, about 56% of NBA players do have tats.

https://www.si.com/nba/2020/04/06/nba-2k-ruling-tattoo-artists

why would anyone care if folks they don’t know have tats? Bizarre.

#215 tc-contra on 01.06.22 at 9:15 pm

#124 HUNGRY BEAR on 01.05.22 at 9:57 pm
For ALL the UN-VAXED……

You get COVID you pay for all yours and your household families (who you convinced to not get vaxed) medical treatment out of pocket 100%.

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

Hey Hungry (stupid) Bear,

During hunting season, I’m coming for you! Idiot

#216 Jay Kayvin on 01.07.22 at 2:05 pm

Much like our great green taxes. Just an excuse to get money out of the public. This tax won’t make any difference, and it certainly will not make housing affordable for younger people. It’s just a scam to grab more $$.