The turning

Next Wednesday. Ten o’clock. WWTD?

(That’s ‘What will Tiff do?’)

The Bank of Canada’s first interest rate announcement and Monetary Policy Report of 2022 will be dropped then in Ottawa, and speculation is rampant. Will the bankers do what Bay Street and most economists think/want and pull the trigger on a rate increase? Or will it wimp out, decide to let inflation rip, wait for Omicron to crest and not steal thunder from the coming federal budget?

Here’s the latest. Then we get to Angela.

Eight times this year the BoC will decide if rates are to increase or stay the same. The first is January 26th. Currently the bank’s benchmark rate is just one itsy-bitsy, weenie  quarter of one percent, and has been there – at an emergency and historic low – since Covid came to town almost two years ago. Rates get cut when the poohbahs who run the place think the economy needs stimulation, lest it slump or succumb to a crisis situation. The virus was a disaster. Unemployment soared to 14%. We were locked down. Inflation was negative. The bank slashed.

In 2022 we still have Covid, but no sick economy. Stock markets are near record highs. Jobs have flooded back. GDP is growing smartly. Wages rising. Corporate profits are peachy.

But the cost of this has been monumental. Now inflation has soared from less than zero to about 5%. Government borrowing has exploded higher. Annual deficits are epic. Household debt has erupted, led by a binge in mortgages. No wonder, when five-year money was available for less than 2%. And we all know about real estate.

In 2019 the average house across Canada sold for $454,776. Five-year mortgages were 3.5% and home prices were stable. The central bank rate was 1.75%.

Two years later the bank rate is 0.25%, mortgages are still available at 2% and the average house costs $713,500. That’s a 57% escalation in values in two dozen months. CREA’s index went up 26% in twelve months. A record. Some of that was due to Covid-induced nesting, leading to serious social FOMO. A lot of it was because of cheap money. And that was 100% fomented by our central bank. Stimulative monetary policy may have helped save the economy from the slimy little pathogen, but it also may have forever made buying a detached house in an urban area the purview of the elite. In turn, real estate inflation has jumped the cost of living, which now threatens to spiral as the pandemic ends. Worse, because nobody can afford to move, listings have crashed. Demand overwhelms supply. Quel mess.

This brings us to Wednesday next. US banking giant JP Morgan says (categorically) the Bank of Canada will start tightening – raising rates a quarter point in the first of five such hikes in 2022. That will yield a BoC benchmark of 1.5% by Christmas, jack the chartered bank prime to 3.7%, increase HELOC payments 50% and push five-year mortgages towards 4%.

The Bay Street guys are rooting for this to occur, saying the CB is already behind the curve and has allowed inflation to pop amid excessive monetary stimulus. Not good. “We need rapid action this spring as a series of rate increases,” says RBC. The Bank of Canada is. “out of step with red-hot housing, record equity markets, decades-high inflation, and employment back at pre-pandemic levels,” states BeeMo. As for buying a house now, “there is a risk of getting into the market at today’s rates,” says CIBC.

Remember the inverse relationship between rates and prices. It is probably about to flip.

Now, Angela has been waiting patiently, so let’s hear her tale.

I’ve read your blog faithfully for years.  In that time we’ve gone from newlyweds with $80K in student debt and a puppy to middle aged parents with a 13-year-old senior dog and a $1.5M investment portfolio. Today our story takes a turn like so many that have gone before us: the house we’ve rented for four years in a neighbourhood we’ve lived in for 11 years is being sold.

$800,000 doesn’t get us much house and there are slim pickings out there.  Moving further out means a longer commute and more gas.  I just never wanted to own a house honestly, but we’ve come to a point that it seems like our only choice because rents are so high for so little.  We’d be downsizing further into a 2-bed purpose-built rental.  I’m not even sure the kids would fit in one room, never mind me setting up a desk in a quiet space.  I never cared about granite or landscaping.  Vinyl, lino and dandelions are fine with me as long as I have freedom.  I feel less and less free at the mercy of landlords, even with our chubby portfolio.  How stupid is that?  Do we move into another rental and hope for the best or just buy what we can afford and get on with our lives?  On a scale of 1 to 10 how much will we regret buying in the next 2 months?

Since we’ve followed your advice about a BD portfolio, I wondered if you have some words of advice or encouragement for us.  I’m crying out the same words as many others:  they’ve said this market would crash for years and it never comes!  What should we do?  Keep up the good work on your blog.  It’s a dose of sanity in these crazy times.

Logic vs emotion, Angela. Logic tells us a two-year CB tightening sked will hit sales, weed out buyers and increase listings. Prices would fall. Maybe not a lot. But some – depending on the city. People buying in the winter of 2022 with high leverage could be under water. Others might have to wait several years to get their original investments back. And meanwhile new laws might really derail the market, as they shack investors who have helped push prices higher.

Logic also tells us no matter what your rent, or how much you pay, it’ll be cheaper each month than buying once the surety of a capital gain is removed. Ownership overhead, along with buying costs, are extreme. Everything – insurance costs, property taxes, renos, building materials, trade fees – are inflating. If accumulating liquid wealth and gaining the freedom a fat, diversified portfolio brings are your goals, eschew buying at this time.

But emotion drives residential real estate, and there’s plenty of that in your note. You can live in a better place, and ultimately cheaper, by renting. It’s worked for you for 11 years. The proof is there. You’re now millionaires. If moving once a decade is the price for freedom, early retirement and wealth, is it so high?

Think about it. At least until next Wednesday.

About the picture: “This is Bronson, our 12 year old Rescue Dog,” writes Michael, in Waterloo. “He came out of the Bush up North as a 6 month old – in very rough shape ( open gash on his neck – most of his muzzle furless from mites. This is him this past Aug enjoying our Georgian Bay pad up Wiarton way. “

173 comments ↓

#1 Robert Ash on 01.17.22 at 2:49 pm

Our Central Bank will adjust a Courageous 25 Basis points, knowing that this will assuage, a few , but confident in the Fact the Fed Reserve will wimp out, or only match, the same increase in March. Several Fed Governors, have indicated a 50 Basis point rise, is simply too much… Be great if they recognized what that says, to the Domestic Money supply and future intentions, of the average person, saving, to be responsible. It does take some savings goals, prior to making investment bets. This fact seems, to escape our Repressors..

#2 CL on 01.17.22 at 2:56 pm

Everyone who buys real estate with 5% down and with CMHC is underwater right off the bat. The downpayment and CMHC are almost a wash and if you want to sell, you will pay realtor commissions. I haven’t included land transfer costs since it depends on where you live but this would obviously enhance being underwater before you make the first payment.

#3 Faron on 01.17.22 at 2:56 pm

#101 Sail Away on 01.17.22 at 2:33 pm

#95 Mattl on 01.17.22 at 1:38 pm

Kind of like bragging that you were able to resist buying Tesla at 200 bucks, not exactly a financial success story even if you made 30% on TD.

——-

No need to bring Faron into this.

I know, right? Somehow I managed to miss buying Theranos, ENRON and Nortel too.

I’m such a looser.

#4 ogdoad on 01.17.22 at 2:59 pm

Lots of dough and nowhere to go…Speaks a little of lack of creativity to me. Look in the mirror and ask yourself what is important – to you. Not your peers (but good luck with that). Sounds like a house isn’t.

Pony up the dough and keep renting. Or move to another city. I could rhyme off a couple with cheaper housing and rent – and LOTS of jobs (if working is your thing – eeew).

Jeesh, don’t these people have parents? I guess the ‘but we have 1.5M!!!???’ is starting to lose its luster on them.

Og

#5 TurnerNation on 01.17.22 at 3:04 pm

Trucking. For the Yieldhounds Mullen Trucking (MTL.TO) is up 4% Monthly payout.

— The entire country probably will be shut down until June, with a UBI coming maybe in May. My guess.
ON, QC, NB are shut down.

.Alberta and Saskatchewan resist calls for new restrictions as Omicron numbers rise (globalnews.ca)

— Health Care – what’s the long game our rulers are playing. Keeping it in a perpetual crisis state.
Could it be permanent rationing – say those earning over 100k must pay something out of pocket? Unless you are in a protected group (you know the government’s list of special groups). Or opening the door to the global private health care firms?
Not so far fetched seeing as Kanada has an open-ended no limits contract with Fizer and Modern-RNA. They must love this country. Tax farm full of milk.

—- Is this Novak Djokovic one big distraction as the rollout of the global New System rages onward?
Other people point out that if you rearrange the letters you get: Novak Covid Jok.
Could it be “No-Vax Covid Joke”? Are they just playing with us? Likely.

—– Science in Kanada. Whatever it takes! And let’s keep doing it.

https://www.ctvnews.ca/health/coronavirus/canadian-study-reveals-rate-of-false-positives-from-rapid-antigen-tests-1.5742050
“In total, 462 rapid test results, or 0.05 per cent of the 900,000 results, resulted in false positives. This represents 42 per cent of the positive test results in the study.

https://bc.ctvnews.ca/b-c-s-covid-19-hospitalization-total-to-jump-as-province-changes-reporting-system-1.5740550
“B.C.’s COVID-19 hospitalization total to jump as province changes reporting system”

#6 X on 01.17.22 at 3:04 pm

My Guess, the bank sits pat until they see the economy open more and get a little further through this covid thing.

Do I think they should, nope, I think rates should rise, inflation is present, and the hot spring market does not need any further fuel.

#7 Prince Polo on 01.17.22 at 3:04 pm

My only emotion when it comes to Canadian real estate is contempt that the common-folk allowed it to run amok and so wildly out-of-control…

Who is going to play Garth Turner in The Big Short 2.0?

#8 Faron on 01.17.22 at 3:09 pm

Food for thought, here’s a devil’s advocate take on the inflation, rate increase and Central Bank tightening narrative:

PBOC cut rates for the first time since April. China also eked out a GDP beat (whatever that means ’cause China stats) but also a pretty large manufacturing production beat. Making more things could be seen as deflationary especially when it’s more things coming from the country that makes most of the things.

The level of shorting of long bonds is extreme right now. When there’s consensus in the markets (right now that is inflation and tightening) is usually when the markets prove everyone wrong. A market correction sending people fleeing back to bonds, crashing rates and pressuring banks to hold off would be a big woopsie right now.

#9 Dave on 01.17.22 at 3:11 pm

It’s 3K a month for a 2 bedroom in Vancouver and not much cheaper in Victoria. Renters are being pushed to buy. It is hard to justify spending 3K a month on renting a crappy 2 bedroom when it is not going to a mortgage.

#10 ElGatoNerodeYVR on 01.17.22 at 3:14 pm

Tough decision here , though I thought this blog did advocate buying if one could afford it. If you buy to live in it being underwater for a dew years is really more of o a philosophical issue, who cares if you enjoy your place and can afford it easily.
Without knowing where thus couple is located ,hard to evaluate what is right.
Here in BC with a 1.5 mil portfolio I would personally sink 500k on a townhouse down-payment and use the rent equivalent for mortgage ,
strata ,property tax .
Decent rentals here are scarce and quite expensive ,not even considering quality of school districts and catchment areas.
What good is money in the bank if your living arrangements suck ,especially with children and WFH ?
Ofcourse ,we all decide what is best for us but one cannot simply discount emotions, we are not robots and numbers on a statement do not make us truly happy.
A decent neighborhood with good schools and a separation between work and life while not piled up on top of each other is priceless.
I have done the 2children in 2 bedroom rentals and it was not fun at all and it definitely did not lead to life satisfaction ,quite the opposite, everybody was miserable so let’s not be so quick to point at savings vs. Quality of life.This couple clearly has a choice and a the money to support a decent quality of life.
When you have children the equation changes dramatically.

#11 Linda on 01.17.22 at 3:15 pm

Tough call for Tiff. Apparently indebted consumers are feeling the pinch, so raising rates (at least from a political standpoint) is not the best move. However, since inflation is chewing away at buying power like an out of control beaver mowing down trees to erect a new dam, seems like raising rates is the only way to stop that sucker. Pain now or pain later? Ouchies either way!

#12 Chaddywack on 01.17.22 at 3:15 pm

So basically I should ignore my friends who bought a year ago who are bragging they have “made” 200 to 300k in a year on their house purchases (and expect it to continue).

Prices are sticky on the way down; we shall see what the end of this year brings.

#13 B on 01.17.22 at 3:16 pm

We got a 1 year old kid now and have been renting since we got out of university (~10 years). Got a decent sized B&D going, but don’t want to touch that for housing.

Currently renting a newer townhouse in Surrey for $2500/month. We want a yard for the kid, but to rent a decent detached house is about $3500+ in the Lower Mainland (if you can find one) that’s a lot of after tax cake.

We were looking at Vancouver Island, now everything there has shot up 25-40% which isn’t reasonable giving the type of jobs/amenities over there.

Seriously thinking about moving to the USA. I’m in HVAC/plumbing sales, but the wife is a Physiotherapist and her license doesn’t exactly transfer down there.

Thoughts?

#14 IHCTD9 on 01.17.22 at 3:23 pm

Re: Angela. This has got to be the worst time in the history of Canada to buy an sfd. Do whatever you have to – to not do so. At least for a while. It’s a great time to bide your time. I came of age sharing a bedroom with two of my siblings. 6 peeps in a 3 br 1 bath house. Don’t recall it ever being a problem. Don’t worry about the kids.

Maybe find a corporate landlord, and keep stuffing those investments. Eventually you’ll be able to make a lifestyle choice few others can make.

#15 Tiff is a Wimp on 01.17.22 at 3:30 pm

For Tiff…
https://www.facebook.com/photo?fbid=107568595158643&set=a.107500601832109

#16 mj on 01.17.22 at 3:33 pm

bank of Canada is way behind the curve. The right thing for them to do would be to raise 0.75 and make the benchmark 1% Next Wednesday. That would help with inflation. Then they can hold for a couple months to see how it would effect the economy.

#17 Stan on 01.17.22 at 3:35 pm

Angela, we got kicked out from a duplex in North Vancouver after 5 years 8 months ago. 2 months notice. One year old daughter and a dog. Ended up moving 2 blocks down to just finished rental building. 3 bed with fantastic ocean and mountain view. $3,500/month vs old $1,800. Everything is new and we have an extra room and can stay forever. We were thinking about buying, but it would cost us almost double that. Thanks to renting etc our portfolio is near 7 figure, which can cover the rent and more. We could not be happier. I hope this helps

#18 The real Kip (Ret) on 01.17.22 at 3:44 pm

WWTD?

Answer: nothing.

#19 Dr V on 01.17.22 at 3:45 pm

The worst part for Angela is the slim pickins’ out there.
$1M still works in my hood, $800k not so much.

Otherwise the finance part may only take some
finessing so as not to trigger too much tax. Depends on the size of the non-reg and TFSAs. If they can get $400k as a down tax efficiently and a $400k mortgage at still low rates, maybe it will all work. They could still be left
with $1m invested and the rest of their careers to
replenish it.

#20 Kevin on 01.17.22 at 3:53 pm

@Angela: I’d suggest waiting out the storm if you can, and find a rental for 2 years and then reassess. The market is ridiculously priced right now, but it’s a sad state of affairs out there when you have a $1M+ portfolio and are still renting because housing is so expensive. The politicians have mucked up the system, and money is losing its value.

#21 vanreal on 01.17.22 at 3:57 pm

Tiff will wait to raise rates. Govt wants money to depreciate in value to help pay off the debt more quickly. they will drag their feet on raising rates.

A. should look at buying. they have a huge down payment they could use which could keep their mortgage below the cost of rent. They have time to rebuild their next egg. They sound like mid 30s at most

#22 T-Rev on 01.17.22 at 3:59 pm

Had dinner and Guinness with the smartest guy I know on the weekend (other than the bearded guy who writes this blog). He surprised me with some observations on “inflation”.
– look at the two year inflation curve. Inflation went negative in 2020. If you look at the integral of 2020 and 2021 around the 2% target, we’re basically exactly where we should be, averaging 2% over that time.
-of course, unless that number falls back to earth there’s the risk of it continuing, but the CBs are all over this and the economy is very sensitive to interest rate hikes because of the debt bubble. A little tweak up of the rate is going to take us from the cheapest money in history to…that’s right, the second cheapest money in history. That’s a bit of an exaggeration, but it’s not like sub 2.5% floating and 4% fivers are pricy by historical standards. And because of the debt saturation of consumers, that will likely be enough to tame demand side inflation.
– the media pumps the inflation and supply chain narrative narrative 24/7, because hindsight sensationalism is what they do, but have you been into a home depot yourself lately? I went to one after talking to him to have a look for myself. Full shelves. Lots of helpful and knowledgeable staff. Pricing not that much different from what things were going for last time I built a house with my own hands in 2014. Sure, some things have really jumped. But many other items are the same as they were 8 years ago. Businesses and the media are using the supply chain argument to continue to pump prices while people will believe it- nothing like fear of inflation to drive people to purchase assets like equities and houses and spend their income now before prices rise. This will last, until it becomes obvious that the supply crisis actually ended, outside a few select items like computer chips, in Q4 of 2021.

Anyway, I thought that was a unique and different take worth sharing, and after a sober second look at it I’ve got to say he might be into something. Recency bias makes us freak out about the last few months, but maybe we’re just catching up from a deflationary 2020. Certainly we’re still seeing supply shortages in some sectors- try getting parts for heavy equipment- but maybe what we’re seeing now is more of an attempt by certain industries to manage production to keep prices high and ride the “Covid shortage” excuse for as long as possible until. Eventually, and sooner rather than later methinks, competition and efficient markets will normalize this trend.

Anyway, I’m done taking Covid as an excuse for anything- I think it’s more of a ploy at this point, and it would be better for everyone if we all stopped trying to take advantage of it.

#23 tbone on 01.17.22 at 4:13 pm

Covid pill just got approved in Canada …Game changer .

#24 Wrk.dover on 01.17.22 at 4:14 pm

Pre-federal budget; invest in a pallet.

Of Booze! Or lose, disposable income.

#25 IHCTD9 on 01.17.22 at 4:19 pm

#13 B on 01.17.22 at 3:16 pm

Seriously thinking about moving to the USA. I’m in HVAC/plumbing sales, but the wife is a Physiotherapist and her license doesn’t exactly transfer down there.

Thoughts?
———

If I were just starting out in post-Trudeau Canada, the game plan would definitely be Alberta or USA. Check out the job situation in the southern USA, then check out their local MLS’s. Look up income and property taxes. Do it regularly, and for a long time. Eventually the decision will become obvious. Trudeau has ****** Canadians dry with a cactus. Those who understand exactly where the pain originates from will win big with a hard, but lucrative decision to move on.

Prosperity in Canada belongs to those who got off and running before Trudeau came along. From here on in, it don’t matter who’s running the show. BC is one of those provinces where you can’t really plot a path to win. You are probably now living in the worst Province in Canada. You came to the table at a point in time where you can do no better than vastly enrich a landlord, realtor, seller, bank, etc… everyone but yourself. Your feet are your most valuable asset in BC.

#26 KLNR on 01.17.22 at 4:26 pm

@#13 B on 01.17.22 at 3:16 pm
We got a 1 year old kid now and have been renting since we got out of university (~10 years). Got a decent sized B&D going, but don’t want to touch that for housing.

Currently renting a newer townhouse in Surrey for $2500/month. We want a yard for the kid, but to rent a decent detached house is about $3500+ in the Lower Mainland (if you can find one) that’s a lot of after tax cake.

We were looking at Vancouver Island, now everything there has shot up 25-40% which isn’t reasonable giving the type of jobs/amenities over there.

Seriously thinking about moving to the USA. I’m in HVAC/plumbing sales, but the wife is a Physiotherapist and her license doesn’t exactly transfer down there.

Thoughts?

not to mention they aren’t handing out greencards to just anyone. Have to prove a citizen couldn’t do the job you would be doing.

#27 Mark on 01.17.22 at 4:36 pm

I can’t think of a worse personal financial disaster than shovelling 10 years worth of smart investment growth in to a down payment for an overpriced house. Sadly, with rents being what they are, that’s exactly what many are being forced to do.
I heard a stat that 95% of sales in 2021 were to investors. I don’t think it’s that high, but it is certainly higher than the 25% mainstream is reporting. Canadians were already stretched before covid, it’s impossible that this many people continue to be able to afford prices that are now 40% more expensive.
Wake up, BoC, wake up Trudeau. Canadians are now priced out of their own country. This won’t end well.

#28 crowdedelevatorfartz on 01.17.22 at 4:38 pm

After the housing and the economy in Iceland and then Ireland went for a crap a few years back…

The joke in the EU financial circles was,
“Whats the difference between Iceland and Ireland?”
“One letter.”

Lets see where we are in a year or two.

#29 gfd on 01.17.22 at 4:43 pm

BUOYAAAA! MORTGAGE RATES BY TD
TD Bank 25 Yr Amort 25+
2 Year Fix ↑20 2.79% 2.89%
3 Year Fix ↑15 2.79% 2.89%
4 Year Fix ↑10 2.84% 2.94%
5 Year Fix ↑10 2.94% 3.04%
5 Year Fix HR ↑10 2.84% –
6 Year Fix ↑10 3.04% 3.14%
7 Year Fix ↑10 3.14% 3.24%
10 Yrs Fix ↑10 3.40% 3.50%
5 Year Var ↑5 1.55% 1.65%
5 Year Var HR ↑5 1.50% –

#30 Søren Angst on 01.17.22 at 4:52 pm

Soon Canada, soon. Peak will come. Omi has no special affectations by country, it’s just look for some lungs to park its butt.

Cdn lungs just as good as English and Italian lungs. It will GET BETTER SOON.

Omi dropping like a rock in Italia:

Jan 11 220,532
Jan 12 196,224
Jan 13 184,615
Jan 14 186,253
Jan 15 180,426
Jan 16 149,512
Jan 17 83,403

Same in the UK.

Hospital in Italia nowhere near critical 19,228/65,313. ICU same story 1,717/9,248. Trend slight decline in ICU all of +26 today.

New TYPE OF CHART from Our World in Data. Peak cases coincident with key metrics and comparable to prior waves. Here is the UK:

https://ourworldindata.org/grapher/uk-covid-cases-hospital-ventilated-deaths?country=~GBR

They also have Spain, Germany and Israel for now. For those that like to compare severity by wave.

———————

I ‘dunno Garth.

On the surface things up and so forth as you point out. The number are the numbers.

Something tells me this CB rate raising will not end well for the Cdn economy. Hope I am wrong and so far it looks like it.

#31 leebow on 01.17.22 at 4:56 pm

#22 T-Rev

Powell announced the shift to “average inflation targeting” back in summer 2020. So the “integration” argument is not new.

Central banks can only manipulate future inflation and not past inflation. If it’s not looking good going forward, they’ll need to act regardless of the past values.

We live in weird times when $100 cash is a lot and a $1 mln mortgage is nothing. People don’t look at CPI. They look at the price of eggs and ham. And oh, they do not like it! Not one little bit!

#32 Under the radar on 01.17.22 at 4:57 pm

A million is not what it used to be when a decent house in a big city cannot be had for less than 1.5 or 2 mil. A 2 bdrm purpose built rental will be well used and less than comfortable filled with pathogen and fried foods through the hallways . A million dollar mortgage will cost you about 3k a month . Buy and forget it as long term your own home will be priceless.

#33 DER on 01.17.22 at 5:06 pm

Following up on your comments to Angela its not just that higher rates might push prices down a little but if it sales stall then things could really snowball…I’ve seen it before and it will happen again. Once enough Sellers feel its time to get out then listing numbers will increase substantially and with more listings downward price pressure starts. The real difference between the RE market and the stock market is that when you wish to sell in the stock market there is always a buyer and you can take your gain or loss instantly . In real estate if Buyers start to sense that prices are dropping many will hold back and the more buyers that wait and slow sales down the more sellers will try and beat other sellers but making their property more attractive by reducing their list price. Also seller’s holding a second property held for investment will say to themselves time to unload adding more product. Once this takes hold things could get very interesting and I submit could easily result in a 20% drop in prices over about a year.
Rent a little while longer Angela and you will ultimately be rewarded.

#34 XGRO and chill on 01.17.22 at 5:06 pm

My story for Angela.

In 2015, my girlfriend and I found a nice condo in downtown Saskatoon to rent. The price was incredible. So incredible, that it turned out the owner didn’t realize the company they hired to manage the condo wasn’t paying property taxes on the place. Whoops. City just about foreclosed on it in 2017, and that’s when SHTF. We got evicted so that the owner could deal with their mess / move back in.

It was a huge blow. It also came in September. We had two months to move, potentially in the snow. I was incredibly stressed. We loved that place. We had some time to shop around, but we had a hard deadline that we could not miss.

We looked around and found a new place in about a week. A nicer place. Granite countertops. Closer to amenities, albeit further from the beautiful river that bisects our tiny city. The landlord is great – very responsive when things break, and hasn’t raised our rent once in the 5 years we’ve been there – he wants to keep us as tenants cause we take good care of the place. Became good friends with the neighbours. We look after each others’ pets on holidays, the convenience of that is amazing.

So yes, as a renter, being evicted sucks, but things can work out well in the end. Sometimes change that is forced upon you is good. You can always spend money to get rid of problems, just be sure that you, as Garth also explained, are making these decisions with a level head. Don’t grocery shop when hungry, and don’t house shop when being evicted!

#35 Gravy Train on 01.17.22 at 5:11 pm

#13 B on 01.17.22 at 3:16 pm
“[…] Currently renting a newer townhouse in Surrey for $2500/month. We want a yard for the kid, but to rent a decent detached house is about $3500+ in the Lower Mainland (if you can find one) that’s a lot of after-tax cake.[…]

“Seriously thinking about moving to the USA. I’m in HVAC/plumbing sales, but the wife is a Physiotherapist and her license doesn’t exactly transfer down there. Thoughts?”

Have a look at this Website. https://www.viewpoint.ca

#36 the Jaguar on 01.17.22 at 5:13 pm

Garth gets absolutely giddy when an interest rate hike seems imminent. Here’s what’s goin’ on south of the the border. Seems to me to be a ‘a fait accompli’ it will be addressed ‘likewise’ in Canada.

“Fed Chairman Jerome Powell said last week. “We know that high inflation exacts a toll, particularly for those less able to meet the higher costs of essentials like food, housing, and transportation,” the Fed chief told senators at his confirmation on Tuesday.“We will use our tools to support the economy and a strong labour market and to prevent higher inflation from becoming entrenched.”

And then there is what that incredibly handsome devil Kevin Warsh said.

“If price stability is squandered, financial stability is put at risk. If financial stability is lost, the economy is imperiled and the social contract is threatened.” Pretty sure Powell reads every word uttered by Warsh.
Better to move sooner than later when storm clouds are moving in………….+++

Oh..and about this “Remember the inverse relationship between rates and prices. It is probably about to flip.”

By my reckoning it already happened. Mid November. There’s FOMO, but there’s an entirely different kind of fear that settles in when the ship is listing. The orchestra plays on. If you listen carefully you can hear the strains of Nearer My God to Thee.

To Michael: Bless you for giving Branson a beautiful life. The storm watch has now ended for Kitchener-Waterloo. Take him out to play in the snow.

#37 Bob on 01.17.22 at 5:14 pm

If moving once a decade is the price for freedom, early retirement and wealth, is it so high?

Yes it is–especially when children are involved. A better question is why should Angela even face this choice? Supposedly, our country believes in the “right to housing.” The basic tenet of that is that people should have protection from forced eviction. Presumably, Angela has paid her rent and been an otherwise good tenant these past 11 years. What’s happening to her family now should be illegal.

Nobody has the right to own real estate. – Garth

#38 Søren Angst on 01.17.22 at 5:19 pm

Persona non grata.

https://twitter.com/Reuters/status/1483196252380704772

Stopped off in Serbia (only place on Earth where he is liked) enroute to Spain and his La Marbella mansion.

Whereupon the Spanish PM says today:

“Any sportsperson who wishes to compete in our country must comply with the health rules of Spain”.

German Chancellor Scholz standing next to the Spanish PM said:

“We all have to abide by them [health rules], no matter who we are.”

Basically you can practice in Spain but you can’t compete.

Have a nice día.

#39 Jo on 01.17.22 at 5:19 pm

Made a $50.00 donation today to the SPCA. Thanks for the awesome blog Garth.

#40 Uncle Thomas on 01.17.22 at 5:22 pm

On MLK Day we are given a wonderful opportunity to pause for a moment and give thanks for the great contributions of the Black community to our society. Their peaceful and generous nature makes them ideal neighbors, lending testimony to their exceptional family values and parenting skills unrivaled by many other cultures. Their commitment to academic excellence enriches our schools and serves as an example to all who hope to achieve prominence as a people. Real estate values are fueled by the mix of African Americans into an area due to their caring and respectful nature of these communities, an example of all they have achieved through their enthusiasm for self-improvement by hard work and a self-reliant can-do nature. Without their industrious and creative drive, we would be poorer as a nation.

#41 Shawn on 01.17.22 at 5:27 pm

Pension magic numbers?

#98 dragonfly58 on 01.17.22 at 2:09 pm
The ” magic number ” system is slowly being eliminated. And in itself is a bit deceptive. It qualifies you for a bridge benefit,

***********************
Only those on government and maybe some of the best private plans get the benefit of a magic number.

And yes they are being phased out in many provinces. Rightly so as they were a pure gift. (I know, I benefited)

In Alberta it means you get the same pension with 35 years at 55 as a 65 year old would with same 35 years. HUGE benefit. The normal reduction for retiring early in Alberta government pension plan is 3% per year. Totl 30% hit! Magic number eliminates it. Nothing to do with bridging.

But yes some government pensions bridge by basically gifting you equivalent to CPP until actual CPP cuts in. Huge benefit. My understanding is the Nova Scotia government worker pension bridging is just a pure gift like that. Of course it does end when CPP kicks in at 65.

BUT Some bridging program just basically give you early CPP but they cut your pension later to pay it back. Those as you allude are no real benefit. Each pension plan is different.

Of course if you go at 55 with 30 years and you get a benefit from magic number but of course the “full” pension you receive is still less than a 55 year old with 35 years in. To expect a 35 year pension when worked only 30 years is unrealistic.

#42 B on 01.17.22 at 5:29 pm

#26 KLNR on 01.17.22 at 4:26 pm
@#13 B on 01.17.22 at 3:16 pm
We got a 1 year old kid now and have been renting since we got out of university (~10 years). Got a decent sized B&D going, but don’t want to touch that for housing.

Currently renting a newer townhouse in Surrey for $2500/month. We want a yard for the kid, but to rent a decent detached house is about $3500+ in the Lower Mainland (if you can find one) that’s a lot of after tax cake.

We were looking at Vancouver Island, now everything there has shot up 25-40% which isn’t reasonable giving the type of jobs/amenities over there.

Seriously thinking about moving to the USA. I’m in HVAC/plumbing sales, but the wife is a Physiotherapist and her license doesn’t exactly transfer down there.

Thoughts?

not to mention they aren’t handing out greencards to just anyone. Have to prove a citizen couldn’t do the job you would be doing.

Ya, I don’t know how that would all work, but I wouldn’t be the first guy to do it. Isn’t there a shortage of workers down south like Canada?

#43 I don’t know on 01.17.22 at 5:31 pm

Of course Angela should buy. She’s running into a problem many renters face: the landlord wants to sell. Buying real estate is definitely emotional, and part of the reason is because all humans want to have stable shelter. She’s going to have no worries renting somewhere else, of course, and her portfolio will continue to grow, but if she is able to buy (and it looks like she is) than now is the time.

Interest rates are going up, and with it affordability will go down further. As our host mentioned, some spots will see slight declines (most likely small towns without the economies to support their home prices), but urban detached homes in good areas will just drift further and further away.

#44 Penny Henny on 01.17.22 at 5:40 pm

Hey Yukon, is your account on fire too?
10 trading days, 7.5%. Scary!

#45 yorkville renter on 01.17.22 at 5:42 pm

13 years they went from negative $80k to $1.5mm+ ?!?!!

holy mackerel.. are your children working too?

#46 Love_The_Cottage on 01.17.22 at 5:43 pm

#14 IHCTD9 on 01.17.22 at 3:23 pm
Re: Angela. This has got to be the worst time in the history of Canada to buy an sfd.
__________
This is funny. We’ve been hearing this exact comment from many (not necessarily you) for YEARS.

At some point there will be a peak house price. It might be now. But no one knows and does any really believe prices in 10 or 20 years won’t be higher? Who cares if there is a drop for a few years while living there.

#47 Mattl on 01.17.22 at 5:43 pm

Renting with a family sucks. I get that it offers freedom but when you are raising kids there is no such thing. You are tied to schools, sports, support networks that are all put at risk with an eviction. In our school catchment, if we were renters and evicted it is entirely possible we couldn’t find a place to rent in our area. These are material considerations that can’t be explained by house lust, FOMO, etc.

I hear kids are adaptable. Like puppies. – Garth

#48 Bob on 01.17.22 at 5:45 pm

Nobody has the right to own real estate. – Garth

I didn’t say that they did. What I said was that people are entitled to legal protection from forced eviction. That’s what the right to housing means (among other things).

#49 Shawn on 01.17.22 at 5:46 pm

#37 Bob on 01.17.22 at 5:14 pm

The basic tenet of that is that people should have protection from forced eviction. Presumably, Angela has paid her rent and been an otherwise good tenant these past 11 years. What’s happening to her family now should be illegal.

Nobody has the right to own real estate. – Garth

***********************
And certainly people do not have the right to occupy someone else’s real estate forever even if they pay rent. It’s a commercial transaction for both parties and like most contracts either party can terminate the deal with sufficient notice as stipulated in the contract or by law.

#50 Yukon Elvis on 01.17.22 at 5:52 pm

#44 Penny Henny on 01.17.22 at 5:40 pm
Hey Yukon, is your account on fire too?
10 trading days, 7.5%. Scary!
+++++++++++++
Yes. I hope yours is on fire as well.

#51 Affordability Disaster Zone on 01.17.22 at 5:59 pm

Garth, when you have young children, an untimely eviction has huge consequences for the ability of that family to function. For a young family this can mean – moving to a place that is inadequate for space or security, significantly increased costs, longer commute times for parents, the need to find new childcare (which is impossible to do at the best of times), the loss of social networks for kids, the need to purchase an additional vehicle because of poorer transit access, the loss of social supports for parents, poorer proximity to recreation, and many others. Your response to the writer is essentially “so what?”. I challenge you to think about why this is an acceptable option? Is that how we are treating young people who are trying to raise the next generation under incredibly trying circumstances? Too bad, so sad, you have to move? When I was single, sure whatever, it was annoying. But with very small kids right now, the last thing I want to contemplate is a move, yet given the market, I won’t be surprised if the landlord decides to sell and lock in his profits.

While it’s technically true that no one has a right to own real estate, it’s absolutely bonkers that families who want stability are locked out from having it when historically that’s never been a question. My parents had it, my grandparents had it, but I don’t get to have it for my kids because…why? So a bunch of investors can suck up all the housing and exploit young families by charging exorbitant rents?

If you haven’t had young children and had to forcibly relocate with them, you have no idea the stresses it places on marriages and on the well-being of children. Routine and security are at the heart of healthy child development and the evidence bears that out. This housing crisis contributes nothing to that goal.

Yet we all act baffled that the birth rate is crashing through the floor…gee, I wonder why.

#52 Affordability Disaster Zone on 01.17.22 at 6:04 pm

I hear kids are adaptable. Like puppies. – Garth

Equating a child to an animal is beneath you. Smarten up.

News flash: we’re all animals. – Garth

#53 vanreal on 01.17.22 at 6:06 pm

yorkville renter on 01.17.22 at 5:42 pm
13 years they went from negative $80k to $1.5mm+ ?!?!!

holy mackerel.. are your children working too?

My thoughts exactly. Something doesn’t add up here

#54 Bob on 01.17.22 at 6:08 pm

#49 Shawn on 01.17.22 at 5:46 pm
And certainly people do not have the right to occupy someone else’s real estate forever even if they pay rent.

That depends on what you mean by “right.” The UN has declared that housing is a human right. This has many implications, but the most important (to me) is that people cannot be forcefully evicted from their homes. (You can read more about that on the UN’s website if you’re interested.) There’s no question that what’s happening to Angela now is a violation of her human rights.

Then of course there are legal rights. Your human rights aren’t worth a thing if your government declines to enforce them. In Ontario, a landlord can kick you off his property whenever he feels like using it himself. (I assume that other provinces are similar.) This is perfectly legal, but it should not be. This is just one of the many ways that Canada utterly fails to protect the right to housing, which it claims to support.

#55 Penny Henny on 01.17.22 at 6:13 pm

#50 Yukon Elvis on 01.17.22 at 5:52 pm
#44 Penny Henny on 01.17.22 at 5:40 pm
Hey Yukon, is your account on fire too?
10 trading days, 7.5%. Scary!
+++++++++++++
Yes. I hope yours is on fire as well.

////////////////

You know I just jinxed us.

Elvis is Everywhere

https://www.youtube.com/watch?v=mpb4ZAAP6Z4

#56 Dead Cat Bounce on 01.17.22 at 6:14 pm

Tiff will do nothing, zero…zip

#57 Angela on 01.17.22 at 6:14 pm

Thanks for publishing my letter, Garth. I’m surprised the responses are so gentle, honestly. Thanks, blog dogs. Feels like we really are all in this together. To answer a few questions, we are mid 40s, Lower Mainland, 1 defined benefit pension. Draining our TFSAs, we have a $300k down payment with another $100k left as a cushion. The balance is of funds are RESP, RRSP and those would remain as is.

#58 Ronaldo on 01.17.22 at 6:15 pm

#3 Faron on 01.17.22 at 2:56 pm
#101 Sail Away on 01.17.22 at 2:33 pm

#95 Mattl on 01.17.22 at 1:38 pm

Kind of like bragging that you were able to resist buying Tesla at 200 bucks, not exactly a financial success story even if you made 30% on TD.

——-

No need to bring Faron into this.

I know, right? Somehow I managed to miss buying Theranos, ENRON and Nortel too.

I’m such a looser.
————————————————————–
But you made out like a bandit on Bre-X right?

#59 IHCTD9 on 01.17.22 at 6:23 pm

#46 Love_The_Cottage on 01.17.22 at 5:43 pm
#14 IHCTD9 on 01.17.22 at 3:23 pm
Re: Angela. This has got to be the worst time in the history of Canada to buy an sfd.
__________
This is funny. We’ve been hearing this exact comment from many (not necessarily you) for YEARS.

At some point there will be a peak house price. It might be now. But no one knows and does any really believe prices in 10 or 20 years won’t be higher? Who cares if there is a drop for a few years while living there.
——-

You’re not wrong, but neither am I.

It really boils down to how long you want to play the Canadian RE game. Will it go up? Will it go down? Is this the peak? Will I get rich? Will I get financially destroyed?

For me, the smart money exits to stable climates when it starts to look like you’re playing a round of Russian Roulette (no offence Jag).

#60 Ronaldo on 01.17.22 at 6:30 pm

#13 B

We were looking at Vancouver Island, now everything there has shot up 25-40% which isn’t reasonable giving the type of jobs/amenities over there.
——————————————————————-
What amenities are we missing that you need so badly.

#61 ogdoad on 01.17.22 at 6:31 pm

#13 B on 01.17.22 at 3:16 pm

Dood, there is some serious coin to be made down south. We spent a few years there working for a firm that shall not be named. Point is, depending on where you go, you can find UBER affordable housing (renting or buying), not to mention you retain more of paycheck…PNW anyway (not San Fran). Oh, and goods are FAR cheaper than here. And and, booze in grocery stores.

Problems are: Civil unrest, competition that will make you puke, imperialism at its heart, and people carry loaded weapons in their cars…to name a few

Word of advice: Cross those T’s and dot those i’s before addressing the boarder patrol (which you’ll have to). And I mean tabs, sticky notes with page #s…everything available at your fingertips…no f’ing around…

Good luck!

Og

#62 vanreal on 01.17.22 at 6:36 pm

Angela on 01.17.22 at 6:14 pm
Thanks for publishing my letter, Garth. I’m surprised the responses are so gentle, honestly. Thanks, blog dogs. Feels like we really are all in this together. To answer a few questions, we are mid 40s, Lower Mainland, 1 defined benefit pension. Draining our TFSAs, we have a $300k down payment with another $100k left as a cushion. The balance is of funds are RESP, RRSP and those would remain as is.

____________________________________

Just wondering why you wouldn’t take advantage of the first time home buyers option in your RRSP. that could give you close to another 80,000 between the two of you. That would be almost a 500,000 down payment. If you bought a house/ townhouse in the burbs for 1.2 million, your mortage payment would be less then rent.

Classic mistake, comparing monthly rent to a mortgage payment. You conveniently forget the lost earning power of a huge down payment, plus closing costs, property taxes, maintenance, big insurance premiums and a heap of other ownership costs. Don’t be simplistic. – Garth

#63 What would Smoking Man Do? on 01.17.22 at 6:40 pm

“Patrick Boyle is a hedge fund manager, a university professor and a former investment banker.”

He has an interesting take on real estate.

Pandemic Real Estate Bubble?:

https://www.youtube.com/watch?v=oLjLoR4AXgA

Take a look at his catalog of videos. I highly recommend Patrick’s channel – he has a fantastic sense of humour with extreme dry delivery.

#64 Sail Away on 01.17.22 at 6:40 pm

Go Pfizer, go Pfizer! Owning this is like owning Coke when it still had active cocaine as an ingredient.

Fun fact: Coke still uses coca leaves for that je ne sais quoi, but ones that unfortunately have all their stimulatory essence removed:

https://www.foodandwine.com/drinks/55-million-worth-cocaine-showed-coca-cola-plant

#65 Reality Check on 01.17.22 at 6:44 pm

Remember the inverse relationship between rates and prices. It is probably about to flip.
———————————

Or will we have a non-intuitive reaction by the FOMO crowd. It’s likely central banks will wuss-out and not raise rates fast enough or high enough to counter inflation. Instead there might be a long slow grind up as central banks play catch-up to ever increasing and entrenching inflation. As rates grind up unrelentingly the FOMO of missing out on this month’s mortgage rate may cause several more years of panic buying. Imagine you have a 3 month mortgage rate guarantee from your bank and Tiff just raised rates 25 points with another 25 point increase expected in the next couple months. People with rate guarantees will have a “gotta’ buy a house now before the rate guarantee ends” reaction.

This could be the new panic that drives the market to even more insane valuations.

#66 crowdedelevatorfartz on 01.17.22 at 6:49 pm

@#51 A disaster
“Is that how we are treating young people who are trying to raise the next generation under incredibly trying circumstances?”
++++

Hmmm,
My parents were born just before the Great Depression and spent their formative years learning about the value of a dollar or the threat of Hitler.

Spare us the outraged indignation and perhaps a little less time “protecting” the kidults from the real world.

Or they’ll still be living with you in their 40’s while you continue to do their laundry and cook their meals.

Sometimes life sucks.
Deal with it.

#67 Joe on 01.17.22 at 6:51 pm

Angela, are you saying you should of bought a home and also had investments thus being even more diversified and benefiting from the no capital gains tax on the house

The funny thing is many many financial illiterates have benefited big time potentially making oodles just from the mere fact of buying a home vs renting

#68 Barb on 01.17.22 at 6:51 pm

Bronson looks happy to be out with his forever family, Michael. So lucky he found you.

“…the house we’ve rented for four years … is being sold.”
———————-
That sentence alone is why I would want to buy. You never know when that news is going to land in your mailbox.

I can’t imagine having to look for a new place on someone’s else’s timetable.
Good luck Angela.

#69 yvr_lurker on 01.17.22 at 6:56 pm

#51 Affordability Disaster Zone
——-
Your comments resonate with me as well. Until the kids go to school, it is a pain having to move but the social connections between kids and stability is not so critical. Having kids and being forced to move every few years (possibly out of the school zone) owing to a rental situation, is not only a major headache but can also lead to social adjustment problems for kids etc.. I am not talking here about a few moves over 17 years due to job transfers. I have found that people who have never been parents really don’t understand the issues involved and the importance of stability for school-aged kids. The BOC with their uber-low rates has enticed all sorts of speculators and investors into the housing market (all expecting huge housing appreciation in the next few years), and this has really screwed over young families trying to establish roots. Just have a read of this article from the Tyee, which really identifies the problem:

https://thetyee.ca/Analysis/2021/12/17/Housing-Human-Right-Profitable-Asset/

Quoting from the article:
“In Ontario, a quarter of all home buyers are investors. A recent survey found that 20 per cent of homeowners under 35 in the Greater Toronto Area own more than one property. The Canada Mortgage and Housing Corp. links skyrocketing housing costs to speculative investment. Even the Bank of Canada is now concerned about the role the commodification of housing is playing, and has noted how investor buying has doubled in the past year. ”

I would suggest that the tax code should be modified to throw a cold towel on this increasing speculation on real estate. Current taxes are not a sufficiently strong disincentive.

#70 Ronaldo on 01.17.22 at 6:56 pm

#48 Bob on 01.17.22 at 5:45 pm
Nobody has the right to own real estate. – Garth

I didn’t say that they did. What I said was that people are entitled to legal protection from forced eviction. That’s what the right to housing means (among other things).
——————————————————————If as an investor in a rental property I am not able to sell the unit at some point because it is rented, what is the point in even investing in rental properties. I think anyone who had been able to rent for 11 years should consider themselves fortunate.

#71 Daveyboy on 01.17.22 at 6:58 pm

Because of Garth I rent. I could buy the house I live in for cash but it would not be smart. Love being a low life renter.

#72 Owl on 01.17.22 at 7:02 pm

I can’t seem to settle on a satisfactory answer as to whether as a dual citizen- US person living the greater part of my life in Canada- can I do a TFSA? Is there any benefit to it?

#73 Wrk.dover on 01.17.22 at 7:03 pm

#59 IHCTD9 on 01.17.22 at 6:23 pm
For me, the smart money exits to stable climates when it starts to look like you’re playing a round of Russian Roulette
___________________________________

USA 4% of the worlds population.

40% of the worlds civilian owned guns.

There Ponzie, I saved you the trouble.

#74 Ponzius Pilatus on 01.17.22 at 7:07 pm

#28 crowdedelevatorfartz on 01.17.22 at 4:38 pm
After the housing and the economy in Iceland and then Ireland went for a crap a few years back…

The joke in the EU financial circles was,
“Whats the difference between Iceland and Ireland?”
“One letter.”

Lets see where we are in a year or two.
———-
It  was not a few years back.
Ireland and Iceland were  almost  bankrupt in the 2008 calamity.
Our Canadian Banks stood strong.
If you don’t like living in Canada. 
Move to Tonga, maybe.
Bring a shovel.

#75 IHCTD9 on 01.17.22 at 7:17 pm

If you’re relaxing next to the fire tonight with some red wine, may I offer an excellent choice for listening:

https://www.youtube.com/watch?v=OloXRhesab0

Gioachino Antonio Rossini’s El Barbero de Sevilla (The Barber of Seville).

If you watched any Looney Tunes as a kid, you’ve definitely heard some of this one before.

#76 Unpinned on 01.17.22 at 7:20 pm

Latest Fox News at Five: Commonwealth of Virginia newly elected Governor Youngkin giving thanks to the parents who voted for him now parents are “Free children from Masks” and no “critical race theory” but critical Math and English and crital History are the new rule.

#77 Nonplused on 01.17.22 at 7:21 pm

Rick Ackerman today argued that maybe the Fed won’t be so quick to raise rates, because it looks like the long bonds might be doing it for them. Good ol’ market forces.

Makes sense to me. Why would anyone want to hold long term bonds at 2% when inflation is 6%? You have to have a whole lot of faith that inflation is going down below 2% and staying there at this point to believe a 10 or 30 year bond will even be a break-even proposition, worse after taxes. It is possible that a lack of alternative places to park the money is the only thing keeping the rates so low.

#78 Cici on 01.17.22 at 7:32 pm

@#65 Summertime
“As for animal charities, sure, but it seems there are also a lot of people who need help these days, humanity applies to humans”
+++
#71 crowdedelevatorfartz on 01.17.22 at 8:19 am
Humans have choices.
Animals dont.
I’d rather help an animal in distress than a lying, cheating stealing drug addict.
Sorry , but thats just me.
_____________________________________________

#65 Summertime
Who says you can’t make donations on behalf of people and animals. Many people give to various causes. One doesn’t necessarily take away from the other.

#71 CEF
I get where you are coming from, but not all addicts are thieving liars. Most probably are not.

I remember about ten years ago I used to do a lot of hiking in the New York Adirondacks. I was pretty fit at the time, as were my fellow hiking buds. We thought we were quite nimble and quick. But one day, a troop of young, athletic boys (probably around 8 or 9 years old) sprinted past us with huge smiles, wearing cheap running shoes and jeans. We mountain nerds were decked out in Gortex and quick-wick clothing, in proper boots with Vibram souls, and equipped with camelback water packs to boot.

We got to chatting with the group of kids and their leader (Bob), and I have to say those kids were some of the brightest, kindest, and most well behaved young lads I’d ever met. I figured they must be on a school outing for the athletically gifted. However, while the boys were eating their lunches and out of earshot, the group leader told us that in fact they were kids from really rough neighborhoods under siege from heavy criminal and gang activity. He pointed to one little guy, telling us his mom was an addict, and that his brother had died in a shooting just a week earlier. I would never have guessed any of that by just talking to those amazing kids. I was pretty broke at the time and trying to get rid of my student debt, but did manage to make a small donation that year.

Thanks for reminding me that I should probably earmark that group again for a 2022 donation. If anyone else is interested in learning more about the group, it’s called Youth With a Purpose and they are active in the Buffalo area.

http://www.youthwithapurpose.org/

The group’s leader also has a book that describes some of his work: https://www.amazon.ca/Wisdom-Hood-Lessons-Inner-Mentor/dp/1492178039

#79 Dr V on 01.17.22 at 7:34 pm

57 Angela – thanks for the details.

I’ll add to my earlier comment.

Mid 40s. I would say this is right at the cusp. 50 or over – dont buy. Early 40s or younger – buy if it’s really what you want.

RRSP? Talk to an advisor as you dont want too large a one with one DB plan, unless the DB holder has enough allowance to add to other’s (spousal RRSP) to even things up a bit. Pension income can be split at the moment, but I bet it will be limited within 10 years becuz people with DBs and RRSPs are “rich”.

Draining TFSAs? Give that careful thought. Look 20 years out. Paid for home worth??? Or TFSAs worth??

Lower mainland? I wouldnt think $800k gets you anything desirable anywhere. Yes the island is a challenge now too. Forget Vic. Port Alberni cheapest of major centres but may not be to your liking. And yes pickings are very slim.

Good luck!

#80 Nonplused on 01.17.22 at 7:40 pm

#54 Bob on 01.17.22 at 6:08 pm

“In Ontario, a landlord can kick you off his property whenever he feels like using it himself. (I assume that other provinces are similar.) This is perfectly legal, but it should not be. This is just one of the many ways that Canada utterly fails to protect the right to housing, which it claims to support.”

What if the landlord, through whatever misfortune they may have endured, is also in need of a place to live?

Rights are a funny thing, because one’s rights always end where another’s rights begin. How does that saying go? Something like “the rights of your fist end at the rights of my nose”.

The idea that you have a right to property that belongs to someone else is the root of much criminal activity, and it should be treated as the crime it is.

#81 Lawless on 01.17.22 at 7:44 pm

Actually quite a timely post for my situation. Also a long-time reader Garth, family net worth is up about a million, a 3 and a 5 year old, maxed TFSAs/pensions/RRSP, approaching 40, married. On Friday we were told by our landlords that they are selling our current place. We’ve rented our house in the Beaches area of Toronto for two years. And now we have until mid-April to get out, figure out new childcare for our 3 year old, find a new French immersion school for our 5 year old, and basically re-craft our lives. And what makes this all the more frustrating is that our previous landlords also kicked us out when they wanted to move back into the house (that time after 1.5 years). So we’ve now been booted out of our homes twice in two years. Maybe it’s the price point or maybe it’s the more polished style of rentals we are choosing, but this is really starting to get old and I find myself considering just pulling the trigger and buying something at a massively inflated price. I have been saying that prices are too high here for a decade now, so it’d be painful for me, but there’s just something that is just so demeaning about somebody being able to kick you out of your own home. And that’s my rant on that.

#82 Dr V on 01.17.22 at 7:45 pm

54 Bob

“That depends on what you mean by “right.” ”

Bob – that depends what you mean by “housing”.

Sigh. Shawn explained this very well. “Housing” is
different than a “house”. In this case, by your thinking,
a homeless person would have equal claim on that
house.

#83 Concerned Citizen on 01.17.22 at 7:50 pm

#11

Tough call for Tiff. Apparently indebted consumers are feeling the pinch, so raising rates (at least from a political standpoint) is not the best move. However, since inflation is chewing away at buying power like an out of control beaver mowing down trees to erect a new dam, seems like raising rates is the only way to stop that sucker. Pain now or pain later? Ouchies either way!

*****

Not a tough call at all. Central banking should not be designed to bail out the fiscally irresponsible time and again. When that’s the case, you get the last 10 years of massive borrowing. If people overleveraged themselves, that’s on them. That’s what bankruptcy laws are for. That’s what social welfare programs are for. The Bank of Canada’s mandate is price stability, and they have been failing stupendously at their job for the better part of a year.

Central bank policy ought not to be akin to dealing crack on the street corner. Remember all the outrage early on in the pandemic when the companies – such as the airlines – got all kinds of bailout money? People were upset, because these very companies had spent billions on buying their own stock in prior years and had nothing saved for a rainy day. Well guess what – the buybacks are back in spades, and we hear nary a peep. No one has learned their lesson, except to believe that Papa Fed will be there to bail them out every single time, no matter how poor their decision making. Meanwhile for those leery of the mega bubble, the central bank steals savings through their negative real interest rate policy (aka financial repression). Is that truly the system we want?

How about money cost something again so that ordinary people have a chance at owning a home. How about we have a policy that rewards work first, and wealth second? I know, fat chance. This is Canada, where we believe feudalism is the way forward. The Fed will do exactly what it did in 2018 – raise rates a couple times for show, and then turn tail and run. They serve the asset markets first and the citizenry second – the moment their mega bubbles start to deflate, they’ll make up yet another excuse to do nothing.

#84 wallflower on 01.17.22 at 8:13 pm

good to read this (see below) —
That critical history should include:
-the Atlantic Slave Trade
-slaveholding framers of the Constitution
-colonialism in the thirteen colonies
-the genesis of ‘Indian’ reservations
-the second amendment original intentions

#76 Unpinned on 01.17.22 at 7:20 pm
Latest Fox News at Five: Commonwealth of Virginia newly elected Governor Youngkin giving thanks to the parents who voted for him now parents are “Free children from Masks” and no “critical race theory” but critical Math and English and crital History are the new rule.

#85 crowdedelevatorfartz on 01.17.22 at 8:17 pm

#74 Pugnacious Ponzie’s Perturbed Prattle
“Our Canadian Banks stood strong.”

++++

Yep.
The handful of banks with a govt Charter( monopoly) that are backed by the Bank of Canada…which is backed by Canadian taxpayers if the shite really hits the fan.

Canada.
I should love it or leave it Ponzie?
And move to Tonga?
Whats the matter with Austria?
Nothing.
Because …..You’re not living there.
:)

#86 Sail Away on 01.17.22 at 8:20 pm

#61 ogdoad on 01.17.22 at 6:31 pm

Dood, there is some serious coin to be made down south. We spent a few years there working for a firm that shall not be named.

——–

You can name it. There’s no shame in working at Las Vegas Bunnies and Boy Toys.

Unless you weren’t declaring the tip income?? Hmm..

#87 IHCTD9 on 01.17.22 at 8:26 pm

#73 Wrk.dover on 01.17.22 at 7:03 pm
#59 IHCTD9 on 01.17.22 at 6:23 pm
For me, the smart money exits to stable climates when it starts to look like you’re playing a round of Russian Roulette
___________________________________

USA 4% of the worlds population.

40% of the worlds civilian owned guns.
—— –

Seriously?

Dude, I already work with 40 peeps who collectively probably own 150+ guns between them. That’s a definite lowball too. Damn near every guy I know owns multiple guns. My Dad owns guns. My bros own guns. My in-laws own guns.

Right here in Canada homie.

#88 Barb on 01.17.22 at 8:40 pm

#25 IHCTD9
“post-Trudeau Canada”.

I read that twice.
Aloud.
Sounded great.

#89 DON on 01.17.22 at 8:44 pm

“Economists Say Bank of Canada to Begin Hiking Rates Next Week” via bloomberg news 1 hour ago.

How does JP Morgan know? Signs that make you go hmmmm.

Inflation not helping Biden…last time the Fed waited in the 80’s it just made things worse. So what is the lesser of two evils? One of the pillars of the housing market are over leveraged buyers.

#90 the Jaguar on 01.17.22 at 8:49 pm

@#59 IHCTD9 on 01.17.22 at 6:23 pm

‘For me, the smart money exits to stable climates when it starts to look like you’re playing a round of Russian Roulette (no offence Jag).’+++

None taken, lol! I agree wholeheartedly with you. The tricky part is the identification of what a ‘stable climate’ looks like, or where it might reside.

We often look to the past ( History Doesn’t Repeat Itself, but It Often Rhymes) to navigate the way forward, and it’s a solid and proven method. Feels a bit different to me this time around. There’s a smell of ‘end of empires’ in the air. Everything we have put our faith in, ( including that big democracy to the south) might just deliver a surprise knock out punch.

What to do, what to do…….? Maybe follow the wisdom of the Little Prince. “It is only in the heart that one can see rightly; what is essential is invisible to the eye.” Seems simplistic, but it downsizes a lot of stuff. Takes courage, honesty and self examination. Not everyone has the stamina for it.

Maybe we all just need an adventure right now. Let’s steal Fishman’s armor plated Buick Grand National out of his underground bunker and drive all night until we reach Puerto Penasco on the Mexican Baja. Don Guillermo and the Federales will be waiting for us with some tequila and a plate of fish tacos…………What could be better than that? amen.

#91 IHCTD9 on 01.17.22 at 8:52 pm

#85 crowdedelevatorfartz on 01.17.22 at 8:17 pm
#74 Pugnacious Ponzie’s Perturbed Prattle
“Our Canadian Banks stood strong.”

+++

Canada.
I should love it or leave it Ponzie?
And move to Tonga?
— —

Ponzie is qualified to talk about leaving your birth country.

He’s got experience.

#92 Bob on 01.17.22 at 9:01 pm

#70 Ronaldo on 01.17.22 at 6:56 pm
If as an investor in a rental property I am not able to sell the unit at some point because it is rented, what is the point in even investing in rental properties. I think anyone who had been able to rent for 11 years should consider themselves fortunate.

Indeed, Angela should be grateful that her munificent and benevolent overlords deigned to let her live at all. Frankly, sir, your attitude belongs in the 11th century, not the 21st.

#93 Observer on 01.17.22 at 9:02 pm

#72 Owl on 01.17.22 at 7:02 pm
I can’t seem to settle on a satisfactory answer as to whether as a dual citizen- US person living the greater part of my life in Canada- can I do a TFSA? Is there any benefit to it?

^^^^^^^^^^^^^^^^^^^
From my understanding, there is no benefit, and lots of reporting headaches. USA does not make exceptions for TFSAs like they do RSPs, considers them “foreign trusts”, I believe. You will pay tax on the gains to the IRS(thus nothing tax-free about them) and will have lots of fun with the reporting requirements.

#94 AnonPoster on 01.17.22 at 9:05 pm

Something is got to give!

Hyper-inflation is global and buyers will pay and pay more till they no longer can. Exhibit A: Meat consumption is way down since 2019.

The Canadian housing phenomenon is based on buyers sentiment of price appreciation. If and when the Fed decides to increase interest rate to combat hyperinflation, which it can not as price of goods are no longer local, housing quickly becomes a liability and price will decline significantly.

Subsequently, most Canadians will not be able to renew their mortgage on a depreciating asset. Thereby more pressure on people to sell, etc…

The biggest impact of the impending interest rate increase will be on the stock market and the overall economy as capital flows out of the country for a lack of better ROI.

The overall cascading effect of rate increase will be a stagflation that will last perhaps a decade or more.

I can add more here, but you get the picture. A house of card indeed!

#95 Bob on 01.17.22 at 9:08 pm

#54 Bob on 01.17.22 at 6:08 pm
What if the landlord, through whatever misfortune they may have endured, is also in need of a place to live?

Rights are a funny thing, because one’s rights always end where another’s rights begin. How does that saying go? Something like “the rights of your fist end at the rights of my nose”.

What if they do? Honestly, this comment hardly seems to call for a reply since you’re making my argument for me. His lordship’s right to housing does not outweigh his tenant’s.

Let’s also remember, that in this hypothetical scenario, the landlord already agreed to rent the property to the tenant. Does it really seem reasonable to you that he can abrogate this agreement whenever it suits him?

#96 All lies and manipulated u decide on 01.17.22 at 9:14 pm

Garth
A false recession that created collapse due to a shut down of the world. Then trillions of $s pumped in in liquidity. Free Cheque’s handed out.
Garth if you think this is standard recession recovery and all is well, I sure as hell don’t think so.
There’s really nothing health about any of this.
Why is its always never fear da stock market and then bash the RE market….Its your main theme forever…
Its all unhealthy and there’s extreme inflation. Most are too ignorant to plan for goofy times.
Don’t fear RE anymore than anything else. Speculation in RE is no different than the market.
I shut off the news and market BS a while ago….people are so enamored and locked into news and the economy…its now a sickness.
Ask me why I’m in the 1.5%?

#97 Stone on 01.17.22 at 9:19 pm

So, if rates go up next week, all good. My wonderful and incredibly handsome B&D portfolio is all set. I have tasty ZPR and MFT as well forming part of it. Currently sitting at 1.24% ytd. I think that’s pretty good for 17 days, don’t you think? Of course, VDY is already up more than 5.50% and this is all about being balanced and diversified, right? VDY is in my portfolio as well but it’s a piece of a greater whole. One that is already +1.24% so far for the year. Hooray!

#98 Bob on 01.17.22 at 9:20 pm

#82 Dr V on 01.17.22 at 7:45 pm
Bob – that depends what you mean by “housing”.

Sigh. Shawn explained this very well. “Housing” is
different than a “house”. In this case, by your thinking,
a homeless person would have equal claim on that
house.

I thought I was pretty clear on that. What I mean by “housing” is defined by the UN declaration on the right to housing. If you’re interested in the details, look it up.

Your comment on a supposed homeless person is just bizarre. My comments tonight are specifically about forced evictions. That is, once you live in a place–be it a house, apartment, whatever–no one should have the right to arbitrarily evict you.

The right to housing is simply an acknowledgement that a secure and adequate place to live is fundamental to human well being. It isn’t, as Garth frequently claims, about asserting a right to a detached house with a two-car garage.

#99 IHCTD9 on 01.17.22 at 9:29 pm

By now, you should be on your second glass of red wine, and in need of additional listening.

The Jaguar likes Ruskies, and so do I, Tchaikovsky in particular. Especially his 1812 Overture:

https://www.youtube.com/watch?v=VbxgYlcNxE8

#100 Stone on 01.17.22 at 9:31 pm

#80 Nonplused on 01.17.22 at 7:40 pm
#54 Bob on 01.17.22 at 6:08 pm

“In Ontario, a landlord can kick you off his property whenever he feels like using it himself. (I assume that other provinces are similar.) This is perfectly legal, but it should not be. This is just one of the many ways that Canada utterly fails to protect the right to housing, which it claims to support.”

What if the landlord, through whatever misfortune they may have endured, is also in need of a place to live?

Rights are a funny thing, because one’s rights always end where another’s rights begin. How does that saying go? Something like “the rights of your fist end at the rights of my nose”.

The idea that you have a right to property that belongs to someone else is the root of much criminal activity, and it should be treated as the crime it is.

———

I prefer the landlord tenant board deciding whether a tenant can be kicked off the property. The landlord can’t just do whatever they like.

If that happened to me, it’s off to the landlord tenant board we go. And it doesn’t matter if a new owner comes along claiming they want to move in. They too can enjoy convincing the landlord tenant board that it is actually the case. In the meantime, the renter can continue to pay the rent and partake of the full enjoyment of the residential property that they rent. Stress free.

Funny that, yes? Landlords always think they are so smart and smug. I so enjoy showing them the true path. The path of subsidizing my living expenses and knowing that I, the very powerful renter, am actually in charge.

Now, all ye landlords, prostrate thyselves at my greatness. That’s a good boy! Lol.

#101 mike from mtl on 01.17.22 at 9:32 pm

#74 Ponzius Pilatus on 01.17.22 at 7:07 pm
…Our Canadian Banks stood strong.
///////////////////////////////////////////////////////////////

Please, they were bailed out (liquidity) just as all the others. Just the toxic waste of then and now had been covered by CHMC so at a glance things do not appear too bad.

This time we don’t have the luxury of a commodities boom and a super dangerous housing bubble.

#102 crowdedelevatorfartz on 01.17.22 at 9:36 pm

Victoria BC Medical Clinic shuts down in a month .
3000 patients left in the lurch.
The doctors are leaving to work in the US.
One of the doctors was raised in Victoria and wants to live “somewhere more affordable”.

The maternity ward in Peace Arch Hospital is closing because “they can’t recruit enough doctors’.
1000 babies are born there each year.
Not any more.
Our BC and Canadian medical system …..is on its knees.

#103 Waltersafety on 01.17.22 at 9:37 pm

News flash: we are all animals.-Garth

Well then you shouldn’t be surprised when people behave like them.

#104 Oder Boleko on 01.17.22 at 9:54 pm

Sorry Trudeau Cheerleaders but the BS ain’t sticking.

A) Dream Office REIT gets a big downgrade due to the facts of a “ natural” flow back to the office non existent. Toy optimists missed the life raft by a mile. Good luck supporting those massive leases. Look at Calgary. They’re thinking about turning Bow Center into a flop house. The news in T.O isn’t better.

B) Foreign capital inflows non existent , in fact outflow at all time record. Trudeaus Canada is swirling down the toilet.

http://www.bnnbloomberg.ca/our-patience-is-waning-analyst-downgrades-dream-office-reit-1.1708758 Rampant hyperinflation has taken hold.

Sorry Green Goons at Eurasia Group but the big banks calling your bluff. They will not strand the energy complex at your behest. This smells like a change from the top to me. Bye bye Justin, Carney and Gerry Butts. The writings on the wall.

My call, big recession bubble bust coming. Canada is a basket case is the next headline.

#105 Shawn on 01.17.22 at 10:08 pm

#82 Dr V on 01.17.22 at 7:45 pm

54 Bob

“That depends on what you mean by “right.” ”

Bob – that depends what you mean by “housing”.

Sigh. Shawn explained this very well. “Housing” is
different than a “house”. In this case, by your thinking,
a homeless person would have equal claim on that
house.

*************************
Dr V strikes me as a very intelligent person for SOME reason. A discriminating judge of character too. I’m sort of joking but actually it does seem true.

#106 B on 01.17.22 at 10:15 pm

#13 B

We were looking at Vancouver Island, now everything there has shot up 25-40% which isn’t reasonable giving the type of jobs/amenities over there.
——————————————————————-
What amenities are we missing that you need so badly.

—-

I guess more so on the employment side and access to health care services/specialists if needed. Outside of Victoria I don’t think there are many major employers.

#107 Bronze Bullet on 01.17.22 at 10:19 pm

#22 T-Rev on 01.17.22 at 3:59 pm

The ‘smartest’ guy who thinks that inflation is 2 % on average while houses rise 25 % last year (on average 12-15 % in the last decade) and are half of the household expenses… and I stopped right there.

It is not speaking good of you at all, find smarter friends.

Those numbers are fake and will be used as an excuse not to raise rates.

Destruction of currency will continue in real time as there is no economy left except fake consumption to support turn around in policies, it is already too late, the time to act was 12 – 15 years ago.

House prices will keep climbing as everything else.

It surprises me how naïve people are, we are talking about meaningful rate increases and the ‘imminent correction’ of real estate since 2010 and prices have quadrupled since.

Decade and a half of the same straight ahead.

Actually much worse as inflation unwinds and due to the staggering levels of debt the monetary policies can’t change.

#108 morry on 01.17.22 at 10:19 pm

Andy Yan has cruched the numbers:

Repeat buyers and investors behind B.C.’s pandemic real-estate boom

https://vancouversun.com/business/real-estate/first-time-homebuyers-lose-share-of-transactions-during-pandemic-boom

#109 Stone on 01.17.22 at 10:25 pm

#70 Ronaldo on 01.17.22 at 6:56 pm
#48 Bob on 01.17.22 at 5:45 pm
Nobody has the right to own real estate. – Garth

I didn’t say that they did. What I said was that people are entitled to legal protection from forced eviction. That’s what the right to housing means (among other things).
——————————————————————If as an investor in a rental property I am not able to sell the unit at some point because it is rented, what is the point in even investing in rental properties. I think anyone who had been able to rent for 11 years should consider themselves fortunate.

———

Ronaldo, you’re a fool. A big fool.

It’s quite obvious that you are clueless in what your rights and obligations are as a landlord. Yes, you can sell a rental property. No, you cannot evict a tenant simply because you want to sell the rental property. That is illegal (at least in Ontario as well as multiple other jurisdictions where the rule of law is applied).

When I invest in something, I inform myself on all my rights as well as obligations I have when I enter in a legally binding contract. It is why I don’t invest in being an amateur (dufus) landlord (unlike yourself). It’s because it is not a good deal to be transacting in. Look at you. You don’t even understand what you can and cannot do as a landlord. Ignorance and stupidity don’t provide you with an out.

Wow! So many ignorant amateurs out there. I am so happy I invest almost entirely in ETFs. It affords me the luxury to read these asinine comments and chuckle at how so many fools out there do so many stupid things. Idiocracy as a movie is very telling of the direction humanity is heading (or already has arrived at).

Hey Upgrade, you there?

#110 IHCTD9 on 01.17.22 at 10:29 pm

Ah, the wine is having the desired effect amirite? That means it’s time for some Beethoven. No, not the dark stormy Ludwig, but something more uplifting like No.6 – ie. The “Pastoral”. One of my all time favs:

https://www.youtube.com/watch?v=iMJPZ-mu-Ts

#111 Doug t on 01.17.22 at 10:36 pm

If this country continues to lack leadership, commonsense and direction then we are SCREWED – more and more professionals are leaving this Socialist rock for better opportunities elsewhere and we all be the worse for it – if we don’t turn things around, well get ready for HARD TIMES FOLKS

#112 TurnerNation on 01.17.22 at 10:37 pm

This country is being shut down. Permanent Rolling Lockdowns. Act surprised!
Planned, planned and planned.

/”The provincial health orders limiting gathering sizes, banning indoor events and forcing the closure of gyms, bars and nightclubs across British Columbia appear to have been extended indefinitely.
The orders were quietly updated on the government’s website Monday to remove references to the restrictions expiring on Jan. 18. Instead, each order now reads that it “does not have an expiration date.” (bc.ctvnews.ca)

//Crossing delayed Monday at Manitoba-U.S. border as truckers protest vaccine mandates (globalnews.ca)

///The Bank of Canada warns carbon taxes will cut into workers’ income and hinder economic growth for decades.
https://westernstandardonline.com/2022/01/boc-says-carbon-taxes-could-slow-economic-growth-for-decades/

#113 AM in MN on 01.17.22 at 10:40 pm

Seriously thinking about moving to the USA. I’m in HVAC/plumbing sales, but the wife is a Physiotherapist and her license doesn’t exactly transfer down there.

Thoughts?

————————————————–

Move, but to a Northern State where your business still requires knowledge and credentials and you won’t be driven into the ground by illegals, they can have the landscaping and food services.

Plenty of other work for the wife in anything resembling health care these days. US$20/hr to start not uncommon.

My guess longer term for the C$ is down, down, down for a while longer. Given where commodity prices are right now, it should be at US$0.95 or more, but they can’t stop themselves spending, and printing is the only way to pay for it.

It gets worse in a couple years when the big public sector strikes start.

#114 Stone on 01.17.22 at 10:41 pm

#103 Waltersafety on 01.17.22 at 9:37 pm
News flash: we are all animals.-Garth

Well then you shouldn’t be surprised when people behave like them.

———

I don’t think Garth is surprised whatsoever. He’s more likely just providing a public service announcement.

Also, don’t forget to spay and neuter. We already have enough fools in the comments section.

#115 LH on 01.17.22 at 10:50 pm

Angela, you can afford a house. Just buy one you like and never look back.

#116 the Jaguar on 01.17.22 at 10:58 pm

@IHCTD9… Here’s another classic. Seems like they’re having a great time with this really ‘catchy’ tune.

https://www.youtube.com/watch?v=cMFIWBQB1kE

Pretty sure Garth is going to ‘ban me’ for this one….

#117 the Jaguar on 01.17.22 at 11:07 pm

p.s. seems like they are proud of their country and want to raise their flag. Sound familiar?

#118 Michael in-north-york on 01.17.22 at 11:08 pm

#54 Bob : in effect, you want to eliminate non-institutional landlords. No person will want to become a private landlord, if the act of signing a rental agreement means you permanently lose control of your property and can never regain it.

Purpose-built rentals will be the only type of accommodation available. Less supply means higher prices, and probably waiting lines for new residents before they can get any place to live.

#119 JT on 01.17.22 at 11:08 pm

I told them we were going to make homes more affordable…..ahahahahahahahahahaha.

And they believed me!

#120 Ponzius Pilatus on 01.17.22 at 11:16 pm

#102 crowdedelevatorfartz on 01.17.22 at 9:36 pm
Victoria BC Medical Clinic shuts down in a month .
3000 patients left in the lurch.
The doctors are leaving to work in the US.
One of the doctors was raised in Victoria and wants to live “somewhere more affordable”.

The maternity ward in Peace Arch Hospital is closing because “they can’t recruit enough doctors’.
1000 babies are born there each year.
Not any more.
Our BC and Canadian medical system …..is on its knees.
———————
Must be the liquor speaking.
Can you provide some respectable links?

#121 Sail Away on 01.17.22 at 11:21 pm

#52 Affordability Disaster Zone on 01.17.22 at 6:04 pm

I hear kids are adaptable. Like puppies. – Garth

Equating a child to an animal is beneath you. Smarten up.

News flash: we’re all animals. – Garth

———-

Hey, Quokkas throw their babies at predators so the parents can escape. Simple yet elegant strategy:

https://www.google.com/search?client=ms-android-bell-ca&q=Quokka+meme+bad+parent&sa=X&ved=2ahUKEwjVq5PzuLr1AhWBHzQIHWUbCSwQ1QJ6BAghEAE&biw=412&bih=594&dpr=2.63#imgrc=I71A8F8yFu0rkM

#122 Ponzius Pilatus on 01.17.22 at 11:26 pm

#116 the Jaguar on 01.17.22 at 10:58 pm
@IHCTD9… Here’s another classic. Seems like they’re having a great time with this really ‘catchy’ tune.

https://www.youtube.com/watch?v=cMFIWBQB1kE

Pretty sure Garth is going to ‘ban me’ for this one…
———————
The Russians are a proud people.
Just like all the people around the world.
Gotta respect that.
Martin Luther King Day, today.

#123 Coastal gal on 01.18.22 at 12:42 am

#13b thinking about moving to the USA. I’m in HVAC/plumbing sales, but the wife is a Physiotherapist and her license doesn’t exactly transfer down there.

Thoughts?

Your wife should be able to work in the USA. Physiotherapist is on the list of professionals under the Canada USA Mexico trade agreement.

—————

#124 Coastal gal on 01.18.22 at 12:45 am

13b link for working as professional in USA is:
https://www.canada.ca/en/immigration-refugees-citizenship/corporate/publications-manuals/operational-bulletins-manuals/temporary-residents/foreign-workers/international-free-trade-agreements/cusma.html

#125 The West on 01.18.22 at 12:55 am

#80 Nonplused

Ahhh yes…and here we get to the very root of a wounded and dying society – economically and socially.

To what end is the bank a mortgage holders landlord?

We do understand what has happened here, right?

:)

#126 IHCTD9 on 01.18.22 at 1:02 am

#117 the Jaguar on 01.17.22 at 11:07 pm
p.s. seems like they are proud of their country and want to raise their flag. Sound familiar?
—— – —

I have fading memories. These days it seems our flag only goes up half way. Either that or it gets stolen…

#127 Dr V on 01.18.22 at 1:18 am

98 Bob

“Your comment on a supposed homeless person is just bizarre. My comments tonight are specifically about forced evictions.”
—————————

Bizarre? Please see below.

https://caeh.ca/nnrhn-launches-today/?gclid=EAIaIQobChMI38T2lM269QIVkT2tBh2O-wUREAAYASAAEgI-w_D_BwE

“The federal government took a historic step when it committed to a legislated right to housing, but the work is just getting started. We need structures in place so that those experiencing homelessness and inadequate housing have somewhere to claim that right,” says Emily Paradis, housing and homelessness scholar and NRHN Steering Committee. “Many in Canada accept that rights like the right to vote aren’t made real unless you can go to a voting station on election day and cast a ballot. A similar argument can be made for the right to housing. If groups can’t meaningfully exercise the right to housing when systemic barriers like discrimination, unnecessary evictions, laws that criminalize homelessness, and the financialization of housing occur, the right to housing is just words on a page.”
————————–

from your comment 48

“What I said was that people are entitled to legal protection from forced eviction. That’s what the right to housing means (among other things).”
—————————————-

What are the “other things”?

Other posters have outlined the ramifications of outlawing “forced” evictions for owner occupation, so I will not repeat them.

I bought my first house in 1991 (BC). It was rented. We
were required to give 60 days notice of our occupation,
so nothing really new here. No issues as the tenants found a place in 30 days, leaving us 30 days to paint and polish before our planned move-in date.

I’ll concentrate on the premise of your argument. You cite the “human right to housing” as superior to the established legal right and any contractual obligation of
the rental agreement, and therefore call for a change to
the legislation to reflect that right.

However you do not see a right for the claim of a
homeless person, who may have lost their home for any number of reasons. Seems to me you have to accept that as well. You are being selective in the application of this right.

And of course, no one is denying the tenants right to find other housing.

#128 Dr V on 01.18.22 at 1:44 am

I do enjoy the “right to (adequate) housing” discussion.
——————————–

From the following link

https://www.lawnow.org/the-right-to-housing-as-a-human-right/

“The international community affirmed the right of every individual to adequate housing at the World Conference on Human Rights in Vienna in 1993.

The Committee on Economic, Social and Cultural Rights defined adequate housing as:

housing which is habitable (for example, wind and watertight);
housing which is accessible (for example, that meets the needs of its occupants);
housing in which the occupant has legal protection to remain, that is affordable, and that is close enough to a school, healthcare facilities and employment.

Human rights are interdependent, indivisible and interrelated. That means the right to adequate housing cannot be separated from other rights, such as the rights to health, work, vote, privacy, education, sanitation, etc. When people relocate due to a forced eviction, they might not be able to find a job and make a living. Homeless people, who cannot show or prove their residency, may not be able to vote, benefit from social services or get health care. In addition, inadequate housing may lead to health issues if there is limited or no safe drinking water and sanitation.”
————————–

It seems to only cover the basics. Protection from the weather, security, potable water and sanitation. Reasonable access to health and education services, and employment. Doesnt say anything about cooking facilities, electricity, internet.

Reads like a homeless shelter, nothing more.

#129 fishman on 01.18.22 at 1:55 am

That Jaguars getting my number. Straight shots down to a beach-house near the bottom of the Sea of Cortez in my gold 73 Buick, 2 door hardtop, brown Mexican leather buckets,350 c.i. “tuned”. And the cement bunker? Still got that. Spooky gal. The kind that goes home at night with an expensive bottle of white wine & brings out the Ouiji board.

#130 Jane24 on 01.18.22 at 2:06 am

Or Angela you could move to Cyprus. Visas are easy to get especially if you or your spouse have an EU grandparent. They also offer nomad visas if you can work online. It is 20 degrees there right now. Mortgages are easy to get. Private English schooling costs peanuts. Everyone speaks English and you can get a monster house with a pool for $450,000 Cdn. Or if you are cheap you can get a nice 3 bed townhouse for £275,000 Cdn but you would have to share the pool. What’s not to like.

Or you can suck it up and stay in the snow. Your choice.

#131 Wrk.dover on 01.18.22 at 7:02 am

#87 IHCTD9 on 01.17.22 at 8:26 pm
Guns
_____________________________

Which is why I suggested Shelburne Co NS.

#132 Bob on 01.18.22 at 7:32 am

#128 Dr V on 01.18.22 at 1:44 am
It seems to only cover the basics. Protection from the weather, security, potable water and sanitation. Reasonable access to health and education services, and employment. Doesnt say anything about cooking facilities, electricity, internet.

Reads like a homeless shelter, nothing more.

First of all, thank you for doing some research. I appreciate your taking this topic seriously. I don’t think homeless shelters meet the bar for adequate housing, but Garth’s comment section really isn’t the place to hash out details like this. If you’re interested in getting into the brass tacks, this is a good place to start: https://www.ohchr.org/documents/publications/fs21_rev_1_housing_en.pdf

#133 crowdedelevatorfartz on 01.18.22 at 7:43 am

@#122 Ponzie’s Putsch

“The Russians are a proud people.
Just like all the people around the world.
Gotta respect that.”

++++
Yes they’re so proud… 130,000 of them rally around a murderous dictator to sing one of the most painful national anthems I’ve heard in a long time.
The words dripping with sentimentality for a “Mother” Russia that has only ever existed in fiction.

I thought the American national anthem was ear bleeding until I heard that Russian cat tail get run over.

On second thought.
I’ve never heard the Austrian anthem.
Can David Hasselhoff sing it in German for us?
After he provides the audience earplugs?

#134 ogdoad on 01.18.22 at 7:47 am

#86 Sail Away on 01.17.22 at 8:20 pm

All I can say is that the waffle iron and chain saw are dealt with…and I now have a strong affinity for hugging (which is great!!).

Og

#135 crowdedelevatorfartz on 01.18.22 at 7:54 am

@#130 Jane24
“Or Angela you could move to Cyprus. ”

++++

The way you keep pumping Euro real estate I’m beginning to thing your a realtor.

Isn’t Canada still sending troops to Cypress as a UN Peacekeeping force?
To keep those feisty Greeks and Turks from killing each other?
60+ years of stalemate?

Can you walk your dog in the “Greenline” minefields separating the two foes?

https://www.aljazeera.com/news/2021/6/7/cyprus-reunification-is-the-un-process-is-dead

I wonder if I could by a cheap condo with a view of the Greenline?

#136 crowdedelevatorfartz on 01.18.22 at 8:25 am

Gas bills increase 50% in the EU since 2020.

https://www.reuters.com/business/energy/euro-zone-consumers-shock-power-bills-soar-2022-01-18/

This is before Russia decides to invade the Ukraine…

https://www.reuters.com/world/europe/putin-brief-chinas-xi-russia-nato-talks-kremlin-says-2022-01-18/

First comes inflation.
Next is recession….
War?

#137 crowdedelevatorfartz on 01.18.22 at 9:05 am

@#120 Ponzies Proof
Must be the liquor speaking.
Can you provide some respectable links?

+++

No problem
Global 6pm News…. last night…. while you were out walking.

https://globalnews.ca/video/8518728/victoria-health-clinic-shutting-down-blames-doctor-shortage

https://globalnews.ca/video/8518724/anger-grows-over-peace-arch-hospital-maternity-ward-closure

That was easy.

Perhaps you should spend 2 seconds on google before inserting foot in mouth again?

#138 crowdedelevatorfartz on 01.18.22 at 10:02 am

@#131 Wrk.dvr
“Which is why I suggested Shelburne Co NS.”

+++

I know a few lads in Cumberland County that are in the same “boat”.

#139 Don Guillermo on 01.18.22 at 10:19 am

#90 the Jaguar on 01.17.22 at 8:49 pm
#129 fishman on 01.18.22 at 1:55 am

Meet you guys at Skullyz Cantina in Peñasco. Tacos and Tequila on me!

#116 the Jaguar on 01.17.22 at 10:58 pm
Looks like Vladdy’s wearing his Russia Goose in that video. Very cool!

#140 Tbone on 01.18.22 at 10:33 am

Good to know I didn’t really own my rentals . Glad I sold them and bought all that bank stock a few years ago.

#141 Gavin on 01.18.22 at 10:40 am

Oh this is funny. BMO talking down to Trudeaus childish mob .

http://www.bnnbloomberg.ca/bmo-capital-markets-ceo-vows-continued-support-for-energy-deals-1.1708912

Gerry Butts has no history as a visionary. Look what he was allowed to do with Ontario. People now pay thousands where they once paid a pittance.

The Luddites in the EU are starving people out of their homes with energy bills so high that rent and food can’t be paid in a single month.

Gerry and Trudeau will answer for their idiocy. BMO is telling them they won’t play along.

#142 Satori on 01.18.22 at 11:00 am

#100 Stone on 01.17.22 at 9:31 pm
#80 Nonplused on 01.17.22 at 7:40 pm
#54 Bob on 01.17.22 at 6:08 pm

Don’t forget they signed a lease or rental agreement!! Maybe they should have read the small print.

A rental agreement is a contract of rental, usually written, between the owner of a property and a renter who desires to have “temporary possession” of the property; it is distinguished from a lease, which is more typically for a fixed term.

Any tenant, scared they will be shoved out in the cold, should then secure themselves a 100 year lease with their landlord. Once the lease is over, it’s over. There is a absolute ton of “leasehold” properties in Canada.

Fact: no one READS the small print, no one cares… and that is not the landlord’s fault.

#143 IHCTD9 on 01.18.22 at 11:01 am

#88 Barb on 01.17.22 at 8:40 pm
#25 IHCTD9
“post-Trudeau Canada”.

I read that twice.
Aloud.
Sounded great.
___

Got a nice ring to it eh?

It’s either an era in the future we all look forward to, or the dystopian results of his tenure.

#144 Affordability Disaster Zone on 01.18.22 at 11:12 am

@66
My parents were born just before the Great Depression and spent their formative years learning about the value of a dollar or the threat of Hitler.

Spare us the outraged indignation and perhaps a little less time “protecting” the kidults from the real world.

Or they’ll still be living with you in their 40’s while you continue to do their laundry and cook their meals.

Sometimes life sucks.
Deal with it.

Ah yes, the rhetorical genius of comparing everything today to the Nazis. Things can’t be hard today because people before had it worse. I’m sure your parents bore no scars from that experience at all…no one who grew up during that era had substance use issues, depression, post-traumatic stress disorder, or any other mental health problems because they were ‘fine’. Though, after having you, I’m sure they ended up in psychotherapy to deal with that trauma.

Your comments a greater embarrassment to you than your handle.

#145 Dharma Bum on 01.18.22 at 11:29 am

Michael from Waterloo:

Beautiful dog!

That view looks very familiar.

Is that Colpoys Bay, by any chance?

I recognize some of the rocks in the water.

#146 Wrk.dover on 01.18.22 at 11:51 am

#138 crowdedelevatorfartz on 01.18.22 at 10:02 am
@#131 Wrk.dvr
“Which is why I suggested Shelburne Co NS.”

+++

I know a few lads in Cumberland County that are in the same “boat”.
______________________________

The 45′ twice in and out every 25hr tide there will mess up his boating schedule royally.

Plus Shelburne Co has mega coastline, for sheltered fishing.

#147 Faron on 01.18.22 at 12:14 pm

#139 Don Guillermo on 01.18.22 at 10:19 am
#90 the Jaguar on 01.17.22 at 8:49 pm
#129 fishman on 01.18.22 at 1:55 am
#116 the Jaguar on 01.17.22 at 10:58 pm
Looks like Vladdy’s wearing his Russia Goose in that video. Very cool!

Be a student of Russia, by all means, but just lay off the crappy propaganda. If you can’t recognize theirs, you have no ability to distinguish among the propaganda in western media sources. Nice song though. Love the people, not the dictatorship.

#148 Stone on 01.18.22 at 12:24 pm

#142 Satori on 01.18.22 at 11:00 am
#100 Stone on 01.17.22 at 9:31 pm
#80 Nonplused on 01.17.22 at 7:40 pm
#54 Bob on 01.17.22 at 6:08 pm

Don’t forget they signed a lease or rental agreement!! Maybe they should have read the small print.

A rental agreement is a contract of rental, usually written, between the owner of a property and a renter who desires to have “temporary possession” of the property; it is distinguished from a lease, which is more typically for a fixed term.

Any tenant, scared they will be shoved out in the cold, should then secure themselves a 100 year lease with their landlord. Once the lease is over, it’s over. There is a absolute ton of “leasehold” properties in Canada.

Fact: no one READS the small print, no one cares… and that is not the landlord’s fault.

———

Not sure I understand your point. Are you saying that the tenant gives up their right to engage the landlord tenant board and therefore must bend over for the landlord? Was your multiple exclamation points !!! an indication of that?

Again, the landlord tenant board will have the final say when it comes to tenant/landlord issues. Anyone who thinks otherwise is a fool and is not very intelligent in having gotten into something that is over their head. Stupidity is not an out for a landlord.

Landlords everwhere!!! !!! Prostate yourself at my feet!!!

#149 IHCTD9 on 01.18.22 at 12:26 pm

#146 Wrk.dover on 01.18.22 at 11:51 am
#138 crowdedelevatorfartz on 01.18.22 at 10:02 am
@#131 Wrk.dvr
“Which is why I suggested Shelburne Co NS.”

+++

I know a few lads in Cumberland County that are in the same “boat”.
______________________________

The 45′ twice in and out every 25hr tide there will mess up his boating schedule royally.

Plus Shelburne Co has mega coastline, for sheltered fishing.
____

Just heard one of the old machinists here has given notice of his retirement. Turns out he’s heading out to NS. No fishing or guns for him though, just cheap living (they hope).

I think this “head out east” thing is going to have legs as long as Ontario RE is continually pumped up by Trudeau and the BOC. There’s little in the way of cheap retirement spots here anymore. At least in the south.

#150 Sail Away on 01.18.22 at 12:26 pm

Interesting find. During this yesterday’s dog walk, I found a smooth, waterworn rock (basalt) about 1″x2″ that is uncannily similar to a sea otter or fur seal, with nose, flippers, feet, even eye indentation all properly proportioned. It was embedded in a portion of conglomerate that had cracked off the cliff, so very unlikely by geologic timeline to be human-made. My wife is quite taken with her morning gift.

#151 Faron on 01.18.22 at 12:27 pm

#133 crowdedelevatorfartz on 01.18.22 at 7:43 am
@#122 Ponzie’s Putsch

“The Russians are a proud people.
Just like all the people around the world.
Gotta respect that.”

I think you missed the point CEF. Ponz was awkwardly saying that you can find nationalist pride everywhere.

I think we are both with you that the lust for Putin that The Jaguar and others express here is utterly baffling and unbelievably, inexplicably blind. Demonstrates extremely poor critical discernment and inability to know when she is being smoke-blown.

#152 Damifino on 01.18.22 at 12:39 pm

#144 Affordability Disaster Zone

Ah yes, the rhetorical genius of comparing everything today to the Nazis. Things can’t be hard today because people before had it worse.
———————————–

Largely correct.

If you read any credible history you’ll realize things actually were much worse. That’s not to say there aren’t folks suffering badly today, but the concept of government bailouts was many decades away.

People largely fended for themselves during WW2 and the Great Depression. My mother certainly did. Her family struggled in deep poverty for all her formative years. If you became your brother’s keeper it was through personal sacrifice, not by government largess supported by onerous future taxation.

#153 Sail Away on 01.18.22 at 12:39 pm

Not a bad morning for buying. Around 6 month low for NasdaQ.

#154 Ponzius Pilatus on 01.18.22 at 12:45 pm

151 Faron on 01.18.22 at 12:27 pm
#133 crowdedelevatorfartz on 01.18.22 at 7:43 am
@#122 Ponzie’s Putsch

“The Russians are a proud people.
Just like all the people around the world.
Gotta respect that.”

I think you missed the point CEF. Ponz was awkwardly saying that you can find nationalist pride everywhere.

I think we are both with you that the lust for Putin that The Jaguar and others express here is utterly baffling and unbelievably, inexplicably blind. Demonstrates extremely poor critical discernment and inability to know when she is being smoke-blown.
———————-
Faron,
I think I can speak for myself.
My mother lived under Soviet occupation in East Germany.
So I can speak from quasi real life experience.
And I can tell you, Propaganda is Propaganda.
Whether right or left.

#155 Faron on 01.18.22 at 12:56 pm

#150 Sail Away on 01.18.22 at 12:26 pm

Post a pic somewhere anonymous.

#156 Dr V on 01.18.22 at 12:57 pm

132 Bob

Good morning (here) and thank you for the link. Upon a quick review of it, I also found fact sheet 25 covering forced evictions

https://www.ohchr.org/Documents/Publications/FS25.Rev.1.pdf

“States should, for instance, adopt legislation regulating the housing, rental and land markets, such as tenancy laws that protect tenants’ due process, prevent discrimination and ensure human rights-compliant procedures …”

The document covers all kinds of “big picture” situations but I could not locate anything specific for the situation we were discussing, so one would expect the government to develop specific legislation.

The Residential tenancy Act (BC) does have sections addressing some of situations mentioned in the fact sheet.

https://www.bclaws.gov.bc.ca/civix/document/id/complete/statreg/02078_01#section49

As any rental agreement should refer to the act, and as the tenant entered into this agreement knowingly, I would expect both parties to uphold their respective obligations. Just the way it has to be for order and
fairness.

#157 Faron on 01.18.22 at 1:16 pm

#154 Ponzius Pilatus on 01.18.22 at 12:45 pm

I agree. I giggle at The New York Times on occasion for that reason. The Jaguar is showing that she can’t distinguish propaganda from non propaganda on the Russian side, so it doesn’t bode well for her judgement anywhere. Mine also isn’t perfect as I can be swayed by left wing propaganda, but I generally know when smoke is being blown up my arse. I don’t think she does. Andy Ngo is a prime example of a right wing agit-propagandist that she seems to believe is a whole-hearted truth teller. She probably also utterly fails to grasp the more subtle African American/east Asian racial dynamic he also provokes. But, she’s afraid of some kind of left wing socialist Boogeyman and fear breeds such irrationality. Again, I’m not immune to the inverse case.

#158 the Jaguar on 01.18.22 at 1:17 pm

Peeps who follow the comments on this blog might notice some who post have a compulsive preoccupation with certain other posters. This fixation first resembles a small yapping, ankle biting dog, but on closer examination it’s a bit creepier. With Billy Bob currently MIA, ( no doubt getting treated for ankle bites) I guess I am the stand in. ‘Sheesh’, to borrow a phrase from Garth. Now cue the ‘hysteric’.

#159 Dr V on 01.18.22 at 1:17 pm

110 IHCTD9 – Glad you had quality time with Ludvig. For me, Symphony No 3 – The Erocia – was what first piqued
my interest. I have the Karajan cycle with the Berlin PO from the early 60s, as well as some extras I inherited. Also have the piano concertos (Ashkenazy with Cleveland SO?), his other concertos, overtures, all quartets and some of the piano sonatas.

Enjoy Russian music too, for its ‘colour’. A good deal of Tchaicovsky as well as others. Scheherezade by Rimsky-Korsikov is a beautiful piece.

Belonged to a CD “club” in the late 90s, but they shut down. BMG was it? Then started purchasing from Arkiv music, but have not done so for years. Exchange rate went against it, and I think their costs increased in $US too. Keep my eyes open in London Drugs. I found Mozarts complete piano concertos (Kissin?) there a year or so ago.

PS Dont tell Ponzie. He’ll want to be our blog buddy :)

#160 josh in calgary on 01.18.22 at 1:43 pm

Buy vs. Rent
The first thing you need to consider is if you will realistically be living in the same spot for 5 years. If not (or you don’t know) then buying should not be your first choice. Are you moving to a new city or province? Then buying should not be your first choice. You should rent for at least a year until you know where in the city you want to live.

Buying will always be more expensive, but it comes with certain privileges. Not being forced to move, own pets if you like, repaint or Reno if you feel like it, live in a place that’s maintained properly (up to you of course), etc. If those privileges are worth it to you and you can afford it then go for it. If your house appreciates in value faster than inflation that’s a bonus.

Some people claim paying rent is “throwing money away”. You can either rent space (renting a house) or rent money (a mortgage). If you want to buy a $1 million house and you pay say 4% mortgage then you are paying $40,000 a year to rent that money, or $3,300. That’s on top of property tax, maintenance and insurance. All of a sudden “throwing away” $3,000 a month in rent looks pretty cheap.

#161 Not Fooled on 01.18.22 at 1:52 pm

#144 Affordability Disaster Zone on 01.18.22 at 11:12 am
@66
My parents were born just before the Great Depression and spent their formative years learning about the value of a dollar or the threat of Hitler.

Spare us the outraged indignation and perhaps a little less time “protecting” the kidults from the real world.

Or they’ll still be living with you in their 40’s while you continue to do their laundry and cook their meals.

Sometimes life sucks.
Deal with it.

Ah yes, the rhetorical genius of comparing everything today to the Nazis. Things can’t be hard today because people before had it worse. I’m sure your parents bore no scars from that experience at all…no one who grew up during that era had substance use issues, depression, post-traumatic stress disorder, or any other mental health problems because they were ‘fine’. Though, after having you, I’m sure they ended up in psychotherapy to deal with that trauma.

Your comments a greater embarrassment to you than your handle.

*******

Just a wild guess, but do you come from the generation that self-identifies into disability and oppression to avoid responsibility for their own failures?

#162 bcPaul on 01.18.22 at 2:01 pm

#37 Bob on 01.17.22 at 5:14 pm
Presumably, Angela has paid her rent and been an otherwise good tenant these past 11 years. What’s happening to her family now should be illegal.

This is why landlords are getting out: socialist/commie attitudes — loosing rights to their properties, taxes, entitled tenants, and being able to raise rents. Just causes more problems in the system.

#163 Sail Away on 01.18.22 at 2:02 pm

#155 Faron on 01.18.22 at 12:56 pm
#150 Sail Away on 01.18.22 at 12:26 pm

Post a pic somewhere anonymous.

——-

Naw. Some random yahoo would invent some random claim and ‘poof’- it would be gone forever, probably along with my dinosaur fossils, arrowheads, spearpoints and other treasures.

#164 All lies and manipulated u decide on 01.18.22 at 2:07 pm

#37 Bob on 01.17.22 at 5:14 pm
If moving once a decade is the price for freedom, early retirement and wealth, is it so high?

Yes it is–especially when children are involved. A better question is why should Angela even face this choice? Supposedly, our country believes in the “right to housing.” The basic tenet of that is that people should have protection from forced eviction.
———————————————————-
When government policies blast inflation and the cost of operation outrun expenditure’s and then the slap rent controls on.
Where’s the free market in that? Who the hell protects the landlord from going under? Who the going to build and supply housing with those risks? Then housing gets even more scares. See its getting worse not better.
You want to point a finger, point it at T2 and policy makers TAX TAX TAX is pushing everything higher.. Their absolute idiots period
Most are so shallow thinking its amazing.

RE in my view became the new bonds as the govs destroyed the bond market. RE is an inflationary hedge and pays a div. now its become to speculative.
I’m booting out a tenant from one of my ocean view penthouse suites because he’s $700 below the rental market. He so dam cheap and he thinks he has a right to my place forever. I put $10k in Trex decking in and he balks at a $20 increase… Ill move my cat in if I please. Thank god 90% of my stuffs commercial its not regulated AT all.
And my tenants are super happy cause I’m very fair. We negotiate increasing costs and maintenance. That’s a free unregulated market and it works..

#165 Wrk.dover on 01.18.22 at 2:16 pm

#158 the Jaguar on 01.18.22 at 1:17 pm
Peeps who follow the comments on this blog might notice some who post have a compulsive preoccupation with certain other posters.
__________________________
I’ve tried to older brother the guy all along, but it has been hopeless.
He has an oppositional defiance disorder.

#166 Hmm on 01.18.22 at 2:19 pm

@#158 the Jaguar on 01.18.22 at 1:17 pm
Peeps who follow the comments on this blog might notice some who post have a compulsive preoccupation with certain other posters. This fixation first resembles a small yapping, ankle biting dog, but on closer examination it’s a bit creepier. With Billy Bob currently MIA, ( no doubt getting treated for ankle bites) I guess I am the stand in. ‘Sheesh’, to borrow a phrase from Garth. Now cue the ‘hysteric’.

they definitely seem to be living rent free in your head.

#167 Ustabe on 01.18.22 at 2:37 pm

#163 Sail Away on 01.18.22 at 2:02 pm

#155 Faron on 01.18.22 at 12:56 pm
#150 Sail Away on 01.18.22 at 12:26 pm

Post a pic somewhere anonymous.

——-

Naw. Some random yahoo would invent some random claim and ‘poof’- it would be gone forever, probably along with my dinosaur fossils, arrowheads, spearpoints and other treasures.

Take nothing but pictures, leave nothing but footprints.

#168 Faron on 01.18.22 at 2:44 pm

#158 the Jaguar on 01.18.22 at 1:17 pm

Nah, I just pity anyone who posts rah rah Russian nationalism propaganda and takes it seriously. And, uhhh, not that matters, but I’m not wrong.

#169 Faron on 01.18.22 at 2:45 pm

#163 Sail Away on 01.18.22 at 2:02 pm

#155 Faron on 01.18.22 at 12:56 pm
#150 Sail Away on 01.18.22 at 12:26 pm

Post a pic somewhere anonymous.

——-

Naw. Some random yahoo would invent some random claim and ‘poof’- it would be gone forever, probably along with my dinosaur fossils, arrowheads, spearpoints and other treasures.

Bummer. You aren’t a “the earth is 6000 years old” person are you? No offence, but I wouldn’t be surprised.

#170 Affordability Disaster Zone on 01.18.22 at 3:31 pm

#161,

Just a wild guess, but do you come from the generation that self-identifies into disability and oppression to avoid responsibility for their own failures?

Just a wild guess, but do you come from the generation of sanctimonious jerks whose life philosophy can be summarized as FYGM?

#171 Sail Away on 01.18.22 at 5:57 pm

#167 Ustabe on 01.18.22 at 2:37 pm
#163 Sail Away on 01.18.22 at 2:02 pm

#155 Faron on 01.18.22 at 12:56 pm
#150 Sail Away on 01.18.22 at 12:26 pm

Post a pic somewhere anonymous.

——–

Naw. Some random yahoo would invent some random claim and ‘poof’- it would be gone forever, probably along with my dinosaur fossils, arrowheads, spearpoints and other treasures.

——–

Take nothing but pictures, leave nothing but footprints.

——–

Haha. Yeah, no.

That gold nugget in the stream is not staying there.

#172 Sail Away on 01.18.22 at 6:07 pm

#169 Faron on 01.18.22 at 2:45 pm
#163 Sail Away on 01.18.22 at 2:02 pm

#155 Faron on 01.18.22 at 12:56 pm
#150 Sail Away on 01.18.22 at 12:26 pm

Post a pic somewhere anonymous.

——–

Naw. Some random yahoo would invent some random claim and ‘poof’- it would be gone forever, probably along with my dinosaur fossils, arrowheads, spearpoints and other treasures.

——–

Bummer. You aren’t a “the earth is 6000 years old” person are you? No offence, but I wouldn’t be surprised.

——–

??

My quick research indicated Van Isle conglomerates were formed many many millions of years before bonobos appeared. It seems highly doubtful to me that a man-made object would be embedded inside, and as part of, a 15m high conglomerate cliff. Or where are you going with that?

#173 Tinpot⁷ Economist on 01.19.22 at 9:55 am

And then there were 7.