Revenge

Seven in the morning. The highways from the burbs are packed. Bumper-to-bumper. The chaos has yet to hit the downtown core. But it’s coming. Front Street is quiet enough for me to hear the cry from across four lanes. “Garth. Is that you, Garth?”

I stopped. She ran across the road. “We study you and read you,” she gushed. “My husband and I…” she gestured at a figure lurking in a maroon SUV, “…have almost a million now thanks to the blog.” Pause, deep stare. “But we really want a house. Please tell us it’s time to buy.”

There we were. I was a failure at being incognito. We got into it. Here’s the gist.

Since a house is obviously what most people feel is the goal of life, we must all review where things stand at the moment.

Inflation is still out of control. Oil is damn near $120 a barrel. Gas is over two bucks. Food is dear. Tomorrow the central bank raises rates again with more to come. Equity markets are volatile. Putin’s a global threat. Employers can’t find workers. Trump’s coming back. There’s Covid in China. And now we have to deal with this Harry Styles guy and his stupid retro pants. Sheesh.

Real estate has everything to do with interest rates. House prices have fallen as mortgages have risen. The best bet now (says Mr. Market) is the CB rate will rise half a point tomorrow and again July 13th. The chartered bank rate will then be 4.2% pushing variable-rate loans above 3.5%, or double what they were a few months ago. This is salient knowledge, since last year over 50% of people chose VRMs to save money. Oops.

Past that there’ll be (says the market) quarter-point increases on September 7th and October 26%. The December setting is unclear, but by then we will have a bank prime of just under 5%, with those variable mortgages north of 4%. HELOCS will be 5.5%. Don’t even ask about reverse mortgages.

Logic tells us, therefore, real estate values will suffer.

But there’s more.

First, the immense fears of higher prices and the impact of inflation on consumer spending is mollifying a tad. People get used to stuff they don’t like, and carry on. Second, the bond market has been signaling yields may have topped out despite the CB aggression. Five-year mortgages rates at close to 4.5% may (as predicted here) swell to 5% in the autumn, but it would be a surprise if we see another big leg up.

Third, real estate is emotional. The sentiment now is one of fear, not avarice. Recent buyers are afraid they paid too much. People coming up to closings are afraid what the mortgage appraisal will be. Potential buyers are afraid they may be reaching for a falling knife. Sellers are afraid they missed peak house. Realtors are wondering where the next meal (0r Audi payment) comes from.

In other words, the decline in valuations this blog has been documenting recently are front-running interest rates. In many locales – especially outside the urban centers where prices romped higher during they pandemic – sale prices have plunged 20%, and up to 50% in certain instances. Appraised values are declining by $100,000 or more a month in Bunnypatch. Sales have dropped dramatically. Listings have increased. The longer this goes on, the more buyers can negotiate prices lower while making offers conditional upon home inspection, financing or even the sale of an existing place.

In short, purchasers have power. The asking price in most places is again just that – an ask. Not a floor value that sellers expect to be surpassed amid a flurry of bids. Finally there are lower valuations, more inventory and way more time to shop the market, do research, negotiate and get a deal. For the past three years vendors were voracious omnivores, remorselessly savaging young buyers. Now it’s revenge time.

So, yeah, if I’d been lusting to own a property, had built up a disciplined B&D portfolio and could buy without putting all my wealth into one asset or imperiling myself or my family, how could this be a bad time to shop? It reminds me of the call this blog made in 2021 when urban condos collapsed in value by a quarter. That turned out to be prescient.

But know this. Paying less for a house with a mortgage at a higher rate will sting just as much every month. The payoff is less debt. In the course of your financial life, that’s a huge benefit.

Also be aware real estate values could fall more. And likely will. Rates have not topped out and sentiment has not bottomed. That’s why any price you pay must be realistic, below-market and arrived at when you finally see blood coming out of the seller’s eyes. So satisfying.

On the street, she thanked me. The downtown cacophony had begun. She dodged cars and returned to her husband. My walk continued. And I wondered.

About the picture: “Love your posts, you’re great, yada yada yada…..Let’s move on to my point,” writes Rodney. “I went to a TD Wealth investment seminar years ago (mid 2009, I think), and the Learned Speaker told the audience that, over the past x dozen years, we have seen 94 out of 95 market corrections completely recover and climb to new highs. An audience member asked him.. “But what about the one that didn’t recover?” His answer, of course, was.. “I don’t know. We are in it right now. But I’m betting we will recover and hit new highs.” He bet right.  We are now at about 97 corrections, and 96 recoveries. But what about the correction we are in right now? My bet is we end up 97/97. This is our 7 month old Shepherd/Border Collie cross named Leni. She wasn’t happy that I was heading out to go golfing, and shredded my Greg Norman golf hat in quiet protest.  My fault – I left it out on the chair.. what’s not to love?”

131 comments ↓

#1 Robert S. on 05.31.22 at 12:21 pm

Question: why does anyone need a handgun? – Garth

To protect against government tyranny.

You want to shoot the government? Grow a brain. – Garth

#2 Candy on 05.31.22 at 12:36 pm

If interest rates keep going up past 5%, 6%, 7% who knows Ontario Savings bonds may come back and big demand for them like back in the 90’s, early 2000’s.

#3 Ponzius Pilatus on 05.31.22 at 12:40 pm

#106 tc-contra on 05.31.22 at 12:11 pm
Question: why does anyone need a handgun? – Garth

—————————————————————

If bad guy comes to my door with gun, what do i protect myself with? A baseball bat can only go so far, and I was never good at the game.

Painful to see Garth go Woke

Then I guess we all need guns, right? – Garth
————————-
I don’t think it’s so much about guns.
It’s about the “FREEDOM” to shoot up empty beer bottles and sometimes people.
Just like the anti vaxers and anti maskers were about FREEDOM to infect other people.
I smell another FREEDOM Convoy coming.
PP will love it.

#4 crowdedelevatorfartz on 05.31.22 at 12:41 pm

Ugly Hat.
Deserved the doggie mauling.
Might be a harbinger of the markets….
:)

#5 Quintilian on 05.31.22 at 12:41 pm

“But we really want a house. Please tell us it’s time to buy.”

This is unfair question.

Garth is an accomplished finance man, not a psychologist.

The penchant originates from emotional, and social process, which is best understood and has been mastered and manipulated by the Realtors.

#6 Owl Eyes on 05.31.22 at 12:43 pm

Phiiiirst!

#7 Ponzius Pilatus on 05.31.22 at 12:45 pm

Garth,
Re: Your encounter.
So much for walking quietly among the masses.

#8 Bipolar on 05.31.22 at 1:01 pm

Well… a lot going on these days! “Sometimes I think life is just a rodeo the trick is to ride and make it to the fair” John Fogerty.

#9 Da real groucho on 05.31.22 at 1:07 pm

Garth,

Better wear nose glasses with stache as a disguise….oh wait …..

#10 Philco on 05.31.22 at 1:11 pm

I called it right here.
All you knuckle head greenos oil haters.
Clueless bring on 3 bucks a liter and you will freeze and starve..
Hug a barrel modern society was built with it. Hydraulics.. diesel, cement, trees.
We are living in retarded times.
Come to my house and Ill teach. Most peeps are absoulte brain dead.
It laughable.
Extinction rebellion crooks. Its another scam. Everything goes extinct. Nothing new. Ask the diasours. Henry Ford didnt kill them.
If i could kill the inet i would.

#11 jess on 05.31.22 at 1:25 pm

Central Bank Digital Currency is or is not a good idea ?
https://financialservices.house.gov/events/eventsingle.aspx?EventID=409382

…”According to a survey from the Bank for International Settlements (BIS), more than 85% of centralbanks worldwide are researching, piloting, or in advanced stages of developing CBDCs.39 The
proliferation of CBDCs worldwide has raised questions about whether the U.S. has fallen behind relative
to the pace of developments in the international financial system and whether that could affect its “reserveet, countries’ experiences with CBDCs to date are quite varied.41 For example, while
most countries that are exploring CBDCs are only in the research and development stage, China’s central
bank—the People’s Bank of China (PBOC)—has developed and implemented its CBDC, known as the e-
CNY, which facilitated approximately two million yuan ($315,761) in payments each day of the 2022
Winter Olympic Games in Beijing, according to the PBOC.42

The European Central Bank is presently conducting CBDC-related research to establish a
prototype by the end of 2023 and unveil a European CBDC by 2025.43

The Eastern Caribbean Central
Bank has piloted its own CBDC called DCash in four countries, but technical issues earlier this year
caused the platform to crash, leaving its users in limbo.44

Following a ten-month pilot, the Central Bank
of the Bahamas introduced its Sand Dollar CBDC in late 2020.45

The International Monetary Fund (IMF)
released a statement highlighting the Sand Dollar’s potential to “help foster financial inclusion and
payment system resilience in the event of a natural disaster.”46

However, the IMF also recognized that the
CBDC “makes up less than 0.1 percent of the currency in circulation, and there are limited avenues to use
the Sand Dollar.”47

The Bank of Japan has completed its first phase of testing a Proof of Concept and will soon move to its second phase to examining the feasibility of a CBDC.48 Additionally, leaders at the Group of 20 summit in 2021 encouraged a variety of international bodies, including the IMF, World Bank, and BIS, to “continue deepening the analysis on the potential role of central bank digital currencies in enhancing cross-border payments and their wider implications for the international monetary system.”49
For countries such as Iran, Russia, and Venezuela, early interest in CBDCs (between 2016 and
2018) may have been driven by a desire to evade U.S. sanctions.50 With Russia launching its attack on
Ukraine in February 2022, some have called these events the first crypto war.51 On February 26, 2022, a
large coalition of states, including the European Union, U.S., Canada, and the United Kingdom, agreed to
ban select Russian banks from the Society for Worldwide Interbank Financial Telecommunications
(SWIFT).52 After the U.S. and its allies and partners imposed sanctions, the appeal of the cryptocurrency
market was quickly amplified in Russia, given its anonymity and decentralization from the global banking
sector.53 The Biden administration and European officials say they are heightening surveillance of
blockchains to try to identify activity from individuals connected to the Kremlin who are subject to
sanctions. While cryptocurrency companies have agreed to enforce a blacklist, many have refused to
outright ban all Russian users

https://financialservices.house.gov/uploadedfiles/hhrg-117-ba00-20220526-sd002.pdf

==========

Michael Sussmann found not guilty of lying to FBI in Durham investigation(trump must be cryin’)
==================
The Supreme Court will allow the Biden administration to continue to use a metric that estimates the real-world cost of the climate crisis while legal challenges play out. The court’s order is a loss for Republican-led states that argued in part that the estimates were “speculative.”The justices issued a one-line order and there were no noted dissents.
The metric, known as “the social cost of carbon,” uses economic models to assign a cost to planet-warming carbon dioxide emissions to help quantify the economic harm caused by the climate crisis, including sea level rise, more destructive hurricanes, extreme wildfire seasons and flooding.”

Supreme Court paves way for DOJ to subpoena Texas lawmakers in Voting Rights Act challenge to redistricting maps

#12 Shay z on 05.31.22 at 1:28 pm

#79 Faron on 05.30.22 at 10:39 pm
#52 Dr V on 05.30.22 at 6

Still think Port Alberni is an underrated locale.”

Prefer Compton or Watts, at least they got good hip-hop in addition to being a sh*thole

#13 tbone on 05.31.22 at 1:29 pm

Fair warning to Realtors riding on 20`s with their Audi.
If you drive over a piece of steel and it penetrates your tire leaving a 3 inch tear and that same piece of steel punctures your rim rendering it useless you will be in for a 1500.00 OEM replacement rim along with a 300.00 tire.
Oh ya, and another tire so you have equal wear on the same axle.
The dealer has most likely sent emails asking you to trade in your Audi . so you may want to take him up on it and get a Kia .

#14 Sail Away on 05.31.22 at 1:47 pm

Apocalypse preparation

The morel hunt was a marked success. We own a small parcel near the Thompson R. where tipi camp was setup, and spent several days in and around the Ashcroft, Lytton and Kamloops area. First day was mostly searching and following our morel compass, next two were intensive picking, last day was fishing and cleanup, although my wife and friend slacked off one day to ride horses at Sundance.

Good trout from the river on nymphs and wooly buggers, even with higher water than usual. Quite a bit of wild asparagus along the banks.

The deep-seated satisfaction from hunting and gathering is immensely fulfilling. Now there are buckets and buckets of treasure in the sunroom and all is right in the world.

Life is good.

#15 Paul on 05.31.22 at 1:57 pm

#7 Ponzius Pilatus on 05.31.22 at 12:45 pm
Garth,
Re: Your encounter.
So much for walking quietly among the masses.
————————————————————————————————
Garth can’t walk among the masses. His cowboy boots makes his head stick up!

#16 Captain Uppa on 05.31.22 at 1:58 pm

“You want to shoot the government? Grow a brain. – Garth”

I too have had a mind boggling conversation with a “pro-gun, pro-freedom” Neanderthal who basically said the following:

why-not assault rifles? No one needs a Ferrari, but we can still buy one. I don’t trust the government.

Good lord, please help us.

#17 Robert S. on 05.31.22 at 2:05 pm

Question: why does anyone need a handgun? – Garth

To protect against government tyranny.

You want to shoot the government? Grow a brain. – Garth
_____________________

What a silly statement Garth. You’re smarter than that. Present a counter argument rather than go straight to the basement on me. You know, as well as anyone, that the government already have a monopoly on crime and violence. Then don’t need a total monopoly on power and fear as well. Votes and voices don’t count unless you have the power to enforce them. You’ve never heard of China, or North Korea? Don’t be daft – you know what guns are for – everyone does.

#18 Shirl Clarts on 05.31.22 at 2:06 pm

#10 Philco on 05.31.22 at 1:11 pm

Don’t post here. Go back to school.

#19 Joseph R. on 05.31.22 at 2:08 pm

Robert S. on 05.31.22 at 12:21 pm
Question: why does anyone need a handgun? – Garth

To protect against government tyranny.

You want to shoot the government? Grow a brain. – Garth

—————————————————-

Out-of-Shape, Internet Tough Guys like to fantasizes that they can take on a modern, well trained, professional army like the Canadian Forces.

If they were to join the army, They would, of course, be part of the elite battalion. It’s just that darn knee injury they had while in college sports that prevents them from joining.

That is why they are stuck fighting in the comment section.

#20 dragonfly58 on 05.31.22 at 2:18 pm

Not a gun nut at all. But I do have an interest vintage machines and devices. And my family background a generation ago was a Western Canadian farm family. So yes, I have a few family, turn of the century Winchesters and the like. And in my youth I would go target shooting with my father and an older cousin who owned a few handguns. Never shot them enough to develop any decent accuracy. There is a bit of a learning curve to get good with them. Both my father and my cousin competitively shot handguns for many years, but I never caught the bug. My old lever actions were and still are all I need for the odd day of target shooting. But like any competitive sport , handgun shooting has a very dedicated following. Unstable 18 year old’s obviously should never have access to handguns. But thousands of Canadians legally and safely own and use them. In Europe , commercial vehicles seem to often be a weapon of choice, should those also be banned ?

#21 Oil over 200 on 05.31.22 at 2:44 pm

DELETED

#22 Bitcoin Bro on 05.31.22 at 2:59 pm

Garth, you’ve referenced the 90’s real estate plateau many times. What of the 1970s and 80s real estate rally during the last great stagflationary episode?

Rates were still much much higher than today and yet real estate experienced robust growth. Does lend itself to the common slimy realtor investment thesis that supply is as big of a driver of market growth at as cheap credit, no?

#23 Islanddave on 05.31.22 at 3:03 pm

Hi Garth, don’t own a handgun,never have… but I do have a family member who does. I can’t say it’s about need,it is a want.club members, target shooters, hobbyists really.
They seem to enjoy it ,I find it hard to see him and his fellow club members posing much of a risk to anyone.
That being said… I can’t believe what the world seems to be coming too
Dave

#24 Sam on 05.31.22 at 3:06 pm

Looks like you’ve branded yourself a real estate analyst and expert after years of predictions. Tell ‘‘em Garth – tell ‘‘em when to buy and when to sell to optimize their real estate return.

#25 Ponzius Pilatus on 05.31.22 at 3:08 pm

#4 crowdedelevatorfartz on 05.31.22 at 12:41 pm
Ugly Hat.
Deserved the doggie mauling.
Might be a harbinger of the markets….
:)
———————-
Be careful.
We’re talking about the “Shark’s” hat here.
He might come after your balls with his vicious 2 iron.
He’s a man who does not need a gun to extract Revenge.

#26 The Regulator on 05.31.22 at 3:10 pm

Is it me, or do some posters not only gloat over their inbestments, and how Smrt they are, but seem to look forward to many greaterfools’ impending demise? Better to keep your head down, blend in, and dust off your winchester?

#27 Søren Angst on 05.31.22 at 3:12 pm

#10 Philco

As I type, Mr. Market in the RED for the exception of…

yeah oil ⛽

And speaking oil:

“EU leaders hail ‘solidarity’ in compromise on Russia oil ban after summit”

https://www.dw.com/en/eu-leaders-hail-solidarity-in-compromise-on-russia-oil-ban-after-summit/a-61971978

To quote Charles Michel, EU Council President:

“This immediately covers more than 2/3 of oil imports from Russia, cutting a huge source of financing for its war machine.

Maximum pressure on Russia to end the war. ”

————-

My Putin Sanction:

Getting rid of gas cooktop, replacing it with induction.

So there. Take that Vladimir. Mangiami.

#28 Ponzius Pilatus on 05.31.22 at 3:16 pm

#110 Senator Bluto on 05.31.22 at 1:30 pm
Why does anyone need a handgun? – Garth

_________________

Some people enjoy shooting sports. I have a friend who shoots black powder pistols, which are loaded similar to a muzzle loader then topped with crisco lard to weather proof the charge. It’s a throwback purely for entertainment. Nothing more. No gang banger would think about using her revolvers in a drive-by.
—————————
A gun like this (without the Crisco lard) was powerful enough to kill old Abe.

#29 TurnerNation on 05.31.22 at 3:22 pm

Right now dozens of overseas investors are frantically dialing their Kanadian realtors.
– Hello?

– Sell all my holdings in the Bunnypatch at once.

– Where?

– the BUNNYPATCH

– Who is this?

– Look Gartho says Sell the Bunnypatch and you do it! Now!!

– Is this about my extended warranty?

#30 Davey Crocket on 05.31.22 at 3:39 pm

Why does anyone have to own a guitar?

#31 crowdedelevatorfartz on 05.31.22 at 3:50 pm

@#13 tbone
“The dealer has most likely sent emails asking you to trade in your Audi . so you may want to take him up on it and get a Kia .”
+++
As billionaire Jimmy Pattison once said to his top sales people in the GM Car Dealership business as the full extent of the 80’s recession became apparent….
“Gentlemen it’s time to trade in your Cadillacs….”

Jimmy is still around, still working, still making money.

https://www.jimpattison.com/industries/

#32 Reality Check on 05.31.22 at 3:57 pm

Even the mighty, bulletproof Victoria market is showing signs of weakness. For sales signs that normally would have a sold sign in them within a few days now sit languishing. Price reductions on numerous overreaching listings. No more bidding wars with 15-20 offers. ACTUAL conditions on offer!!!!

I walked past an open house on the weekend. Out of curiously I went in (walked right in – no line-up) and spent about 20 minutes there. In the heat of the market open houses were lined-up down the sidewalk and people would wait 20 to 30 minutes to get in.

Prices still absolutely nuts, remains to be seen how much of a correction will occur here.

#33 Prince Polo on 05.31.22 at 4:03 pm

The best part about being a loser renter is that I don’t have to fret about any of this $1M+ mortgage nonsense!! H’m’r da spec’cers!

#34 Faron on 05.31.22 at 4:06 pm

#102 Sail Away on 05.31.22 at 11:36 am

…demonizing dart players, golfers, and lawn bowlers.

Yes, the number of mass killings at the hands of a dude with a fist full of darts is apalling. Jack attacks are way outta control. Exactly the same.

Funny. In the US, lawn darts were banned after, like, one death. Guess the lawn dart lobby wasn’t filling McConnel’s coffers.

#35 Observer on 05.31.22 at 4:07 pm

#17 Robert S. on 05.31.22 at 2:05 pm
Question: why does anyone need a handgun? – Garth

To protect against government tyranny.

You want to shoot the government? Grow a brain. – Garth
_____________________

What a silly statement Garth. You’re smarter than that. Present a counter argument rather than go straight to the basement on me.

^^^^^^^^^^
Counter argument: Stricter gun laws mean less guns get into the wrong hands which means less people die. For example, compare number of deaths due to guns in the USA to Canada.

#36 Observer on 05.31.22 at 4:09 pm

#33 Observer on 05.31.22 at 4:07 pm
#17 Robert S. on 05.31.22 at 2:05 pm
Question: why does anyone need a handgun? – Garth

To protect against government tyranny.

You want to shoot the government? Grow a brain. – Garth
_____________________

What a silly statement Garth

^^^^^^^^^^^^^^^
Speaking of silly. Will wait for your counter argument.

#37 Faron on 05.31.22 at 4:10 pm

#100 Sail Away on 05.31.22 at 11:23 am

Griping?

Oh, so you were saying you like the Salvation Army where it is. You agree that the mall and casino are a blight. Perfect. We agree on something. If that’s not what you meant, please try to write more clearly.

#38 The Regulator on 05.31.22 at 4:11 pm

# 16 – Captain Uppa : That neanderthal might come to your house one evening looking for food or treasure, then what? Will you hand over the keys to your ferrari, or browbeat them with big words?

#39 tc-contra on 05.31.22 at 4:17 pm

#32 Reality Check on 05.31.22 at 3:57 pm

Even the mighty, bulletproof Victoria market is showing signs of weakness. For sales signs that normally would have a sold sign in them within a few days now sit languishing. Price reductions on numerous overreaching listings. No more bidding wars with 15-20 offers. ACTUAL conditions on offer!!!!

I walked past an open house on the weekend. Out of curiously I went in (walked right in – no line-up) and spent about 20 minutes there. In the heat of the market open houses were lined-up down the sidewalk and people would wait 20 to 30 minutes to get in.

Prices still absolutely nuts, remains to be seen how much of a correction will occur here.
===================================

I’ve heard that ALL assets revert to the mean – no exceptions. Pulling up a long term chart, it would appear that we have a wayyyyys to go!

My guess is that in 2-3 years time it will be bottom-feeding time. Foreclosures galore coming…it’s almost certain.

#40 toronto1 on 05.31.22 at 4:34 pm

truthfully, in 10 years or more i wont matter if you buy now or in 12-18-24 months… BUT, a miniscule .50 increase caused quite a lot of damage, if your a buyer why not wait until at least another two happen (june and July) and see what shakes out…..

I think inflation is still going to be strong enough for a fall rate hike but will cool somewhat after that as people have already started to adjust their spending habits due to increase of gas, grocercies etc…., those numbers will show up in the Q3/Q4 prints.

My uneducated guess, after the next rate hike another mini panic ensues, tons of listings hit market before the July hike and after that only the best of the best sell in August with inventory growing into the fall. there will be a window of desperation…. but i think that everything will start to level out buy next year april/may….

#41 Blacksheep on 05.31.22 at 4:37 pm

Want to stop day to day gun violence, in Canada?

Mandatory TEN YEAR minimum sentences, with no possibility of parole for anyone caught with a loaded fire arm in / on, their vehicle / person. Once word gets out someones buddy went to jail, that ends it, cause people will not risk a solid decade in the can, just to play the banger.

This of course would have little effect on the mass shootings, because that burden falls directly the psychology department.

#42 Blacksheep on 05.31.22 at 4:44 pm

As a restricted PAL license holder, I believe hand guns are pretty useless for anything other than sport shooting.

I owned a couple SR-9’s over the years which is great compact, semi auto pistol even in Canadian format. Trouble is if your thinking home defense most pistols lack real stopping power, that’s why I get a chuckle whenever I see a ‘tactical TV swat team’ rush in, pistols blazing, pure fantasy. Sold the pistols two years ago cause you could see change was in the wind.

“Stopping power.” I now think less of you. – Garth

#43 crowdedelevatorfartz on 05.31.22 at 4:48 pm

@#19 Joseph R
“a modern, well trained, professional army like the Canadian Forces.”
+++

The same armed forces that are self destructing under the endless onslaught of political correctness?
2 more years before all the experienced officers have left and we have an inoffensive smattering of paper pushing bureacrats?

True story.
I was in Ottawa about 5 years ago and was walking from the Unknown soldier statue towards Parliament Hill. Two military officers were walking in front of me in full uniform.
“Where’ve you been, i haven’t seen you around in months?”
“You’ll never believe it, I spilled some scalding hot tea on my wrist at work one day and it got infected. I was off for the last 2 months with medical leave.”
“Are you ok now?”
“Yes and I got a medal for receiving the injury while on duty…..”

True story.

#44 Sail Away on 05.31.22 at 5:01 pm

#42 Blacksheep on 05.31.22 at 4:44 pm

Trouble is if your thinking home defense most pistols lack real stopping power…

——–

Try a full can of paint on a string.

I came up with that years ago when my family left me home alone over the holidays.

#45 IHCTD9 on 05.31.22 at 5:06 pm

#42 Blacksheep on 05.31.22 at 4:44 pm
As a restricted PAL license holder, I believe hand guns are pretty useless for anything other than sport shooting.
———

Trappers like ‘em. Much easier in thick bush than a long gun.

#46 Victor Llearna on 05.31.22 at 5:11 pm

Victor learna great word today ‘salient’ gonna try to use in a sentence:

The most salient thing about Trudeau is that he is an idiot

#47 IHCTD9 on 05.31.22 at 5:18 pm

#41 Blacksheep on 05.31.22 at 4:37 pm
Want to stop day to day gun violence, in Canada?

Mandatory TEN YEAR minimum sentences, with no possibility of parole for anyone caught with a loaded fire arm in / on, their vehicle / person. Once word gets out someones buddy went to jail, that ends it, cause people will not risk a solid decade in the can, just to play the banger.

This of course would have little effect on the mass shootings, because that burden falls directly the psychology department.
———

The courts can already levy 10 year prison sentences for multiple firearms possession offences. That includes the ubiquitous “drugs and guns found in trunk” we read about every week.

The Courts evidently just aren’t seeing these gun crimes as all that dangerous…

#48 Victor Llearna on 05.31.22 at 5:21 pm

Wow today’s blog is an absolute gold mine for Llearning new worlds. two more: avarice and prescient
lets try…
Real estate agents are beyond avarice in Toronto.
Liberals getting elected is prescient for higher taxes

#49 Puzni on 05.31.22 at 5:22 pm

RE:
#41 Blacksheep on 05.31.22 at 4:37 pm
Want to stop day to day gun violence, in Canada?

Mandatory TEN YEAR minimum sentences, with no possibility of parole for anyone caught with a loaded fire arm in / on, their vehicle / person. Once word gets out someones buddy went to jail, that ends it, cause people will not risk a solid decade in the can, just to play the banger.

This of course would have little effect on the mass shootings, because that burden falls directly the psychology department.
______________________

Harper introduced mandatory minimum sentencing.
Possession of an illegal fire arm fell under one of those laws. Apparently it didn’t deter crimes. Voters and people in the court business didn’t approve of it.

#50 cuke and tomato picker on 05.31.22 at 5:25 pm

Interest rates were allowed to stay too low for too long as a result people felt they could borrow all the money they
wanted. Some people are carrying a good deal of debt
and hanging on to the last branch of what makes them middle class. Each time the Fed or we in Canada raise rates it will seriously affect those who have borrowed too much money. They should have started to up the rates earlier.

#51 That Guy on 05.31.22 at 5:34 pm

“Trump’s coming back. ”

Please let it be true! The world just seems so sad and just a little worse off with Biden in office.

#52 IHCTD9 on 05.31.22 at 5:34 pm

#35 Observer on 05.31.22 at 4:07 pm

Counter argument: Stricter gun laws mean less guns get into the wrong hands which means less people die. For example, compare number of deaths due to guns in the USA to Canada.
————

Can’t compare US and Canada. In several states it’s totally legal to blow someone away if you “fear for your life” or have your house broken into while you are in it.

The problem with your theory is that reducing firearm ownership among law abiding Citizens has little to no impact on gun availability to criminals. There’s a massive global black market for this stuff.

If reducing gun crime is the goal, then going after the dealers and criminals is how you do it. But, new gun restrictions are much sexier than fighting crime.

#53 YVR Renter on 05.31.22 at 5:40 pm

This is a financial blog. Why are there gun rights discussions? Can we please cease those!

#54 Penny Henny on 05.31.22 at 5:43 pm

Hey Sailo you forgot the intro.

“Dear Diary”

#14 Sail Away on 05.31.22 at 1:47 pm
Apocalypse preparation

The morel hunt was a marked success. We own a small parcel near the Thompson R. where tipi camp was setup, and spent several days in and around the Ashcroft, Lytton and Kamloops area. First day was mostly searching and following our morel compass, next two were intensive picking, last day was fishing and cleanup, although my wife and friend slacked off one day to ride horses at Sundance.

Good trout from the river on nymphs and wooly buggers, even with higher water than usual. Quite a bit of wild asparagus along the banks.

The deep-seated satisfaction from hunting and gathering is immensely fulfilling. Now there are buckets and buckets of treasure in the sunroom and all is right in the world.

Life is good.

#55 Blacksheep on 05.31.22 at 5:57 pm

Due respect Garth but your missing the point.

The sole purpose for my comment was to point out the functional uselessness of a hand gun to the previous commenter’s using the ‘defense mentality’ argument to push back against hand gun banning because its not even useful for that. TV glorifies them but reality is your more likely to shoot yourself or your buddy at the range than anything else with only one hand controlling that short 105mm long barrel.

Only a fool believes he’s going to successfully take on someone with poor enough judgement to B&E your home while your are in it sleeping.

Personal security is where its at…External / internal security cameras with motion detectors, double long screwed lock latches on all entry points to my home, keep a large security style flashlight on my night stand and chose a good neighborhood for my family.

Over kill maybe, but I have earthquake insurance too, based on the same line of thinking because we live on a fault line.

The only two firearms I still possess are kept trigger locked, inside a quality gun safe, inside my fully alarmed shop with cameras inside and out in my back yard, behind locked fence gates.

Did I mention the Dog?
————————————-
Reality in Canada for the ignorant:

Forget hand guns, point any firearm at anyone, for any reason (including home invasion) and there is a very good chance, YOU are the party going to jail.

#56 VladTor on 05.31.22 at 5:58 pm

#3 Ponzius Pilatus on 05.31.22 at 12:40 pm
#106 tc-contra on 05.31.22 at 12:11 pm
Question: why does anyone need a handgun? – Garth

If bad guy comes to my door with gun, what do i protect myself with?

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

A pistol as a means of self-defense is an absolutely useless tool and very dangerous.
The one who came to you with a gun is already ready to shoot you in case of danger. As soon as he sees a weapon in your hands, he will start shooting first, because he is ready to do it. Having a weapon does not mean the ability to use it in a critical situation – this is not a shooting range.

Therefore, even if you have a gun in such a situation, it is better to forget about it.

I’ll tell you the best way to protect yourself from an armed robber. To do this, you must have a cat and a dog at home. The cat in your hands will not arouse suspicion and desire to shoot at you. This is the first and fatal mistake of the robber. After a short peaceful conversation, you agree with all the requirements of the robber and …. suddenly (and the robber is already relaxed and lowered the gun down!) You throw the cat at the robber. He is stunned and panicked! Then order the dog to attack him. ALL! You can call 911.

By the way, two cats thrown at a robber one by one will most likely cause him to lose consciousness.

#57 WTF on 05.31.22 at 6:05 pm

#38 “# 16 – Captain Uppa : That neanderthal might come to your house one evening looking for food or treasure, then what? Will you hand over the keys to your ferrari, or browbeat them with big words?”
—————————————————————–

Apocalyptic comment, NRA talking points regurgitated. Fantasizing about extremely unlikely events is illustrative but not in a good way .

How about: The Olympics have events with guns, shooting ranges abound. Farmers use guns. Some people just like guns. Good for them. Shouldn’t be demonized, registered guns are not the problem.

This latest attempt by Little Potato is a pathetic attempt to drive a wedge. Fail to see how this will stop Guido “THE REGULATOR” Carbone from getting his illegal smuggled heater from America and whacking his competition. Which is a far more likely scenario.

#58 Capt. Serious on 05.31.22 at 6:08 pm

We didn’t borrow much to buy our house so we’re just chugging along with a VRM without any worries. Soon to be at 2.24% ho hum. Enjoyed 0.99% for several months. I guess taking 5 years fixed at 2% would have been smart, but at this point that ship has sailed. You might as well go variable if you can manage payments because the fixed rates spiked to the point there is no value there. Also pesky penalties with a FRM if you need to move — and these will be killer with the IRD if you have 2.something percent and current FRM are at 5%. The people who borrowed too much? Well, painful financial lesson I guess.

#59 Barb on 05.31.22 at 6:11 pm

#31 Crowdie

“As billionaire Jimmy Pattison once said to his top sales people in the GM Car Dealership business as the full extent of the 80’s recession became apparent….
“Gentlemen it’s time to trade in your Cadillacs….”
——————————–

The same Pattison who, 45+ years earlier, each month fired the salesman with the lowest dollar sales. But God was on his side. Ruthless bugger(s).

#60 Sail Away on 05.31.22 at 6:13 pm

#54 Penny Henny on 05.31.22 at 5:43 pm

Hey Sailo you forgot the intro.

“Dear Diary”

——–

Haha. Relevant survival information is always important.

The great success of H. Sapiens is due in large part to an ability to disseminate data across space and time.

‘Tis but my simple duty as a simple man.

#61 Blacksheep on 05.31.22 at 6:28 pm

IHCTD9 # 47,

“The courts can already levy 10 year prison sentences for multiple firearms possession offences. That includes the ubiquitous “drugs and guns found in trunk” we read about every week.

The Courts evidently just aren’t seeing these gun crimes as all that dangerous…
—————————
This is the problem, “can already” and “multiple offences” doesn’t cut it because judges lack the balls to do what society really needs.

Start with mandatory minimum 10 year sentences for first offence and if that doesn’t work, keep going: 12, 15, 18 years, whatever it takes.

If these people (T-2?) are serious about stopping gun violence, don’t pose and talk, take tangible action that will get real results, not just piss of law abiding gun owners or get the hell out of office and give me some who will…

#62 fishman on 05.31.22 at 6:33 pm

A Canadian family needs one gun in the house. That would be the ubiquitous 303 Lee Enfield. Cut down the clip to a legal 5 cartridges. Get your PAL. Store it properly. You want somebody to go away from the other side of the door? Nothing like the throaty metallic sound of a 303 bolt action chambering a bullet.

#63 kommykim on 05.31.22 at 6:37 pm

RE: #17 Robert S. on 05.31.22 at 2:05 pm
Don’t be daft – you know what guns are for – everyone does.

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

Yea we know. A hand gun is a tool designed for one purpose: to kill humans.
Now explain to me why we should trust those who obsess over this tool…

#64 crowdedelevatorfartz on 05.31.22 at 6:41 pm

@#59 Barb
“The same Pattison who, 45+ years earlier, each month fired the salesman with the lowest dollar sales. But God was on his side. Ruthless bugger(s).”

+++
Yep.
Ruthless Business man.
His philosophy was “I’m not doing the worst salesman any favours by keeping him around. He should be doing something else other than sales.”
He employed far far more than he fired.

And now his fortune is being donated ( tax write off included) back to the communities he employed.

https://helpstpauls.com/articles/bc-billionaire-jim-pattison-elaborates-reasons-behind-unprecedented-75-million-gift-st-pauls

One of many multi million dollar gifts but the article mentions his assistant Maureen Chant.
We used to clean the windows in her house near Oak and 57th while she regaled us with endless funny stories.
A great, classy lady.

#65 Ponzius Pilatus on 05.31.22 at 6:42 pm

#60 Sail Away on 05.31.22 at 6:13 pm
#54 Penny Henny on 05.31.22 at 5:43 pm

Hey Sailo you forgot the intro.

“Dear Diary”

——–

Haha. Relevant survival information is always important.

The great success of H. Sapiens is due in large part to an ability to disseminate data across space and time.
——————-
I think in Florida you can say Homo, but not gay.
Yep, great success in disseminating space and time.
And if we are not careful, we all could disseminate into space and time in an instant.

#66 Brian on 05.31.22 at 6:45 pm

Here in Ontario they deliver guns with drones right to your doorstep!

https://www.cp24.com/news/drone-carrying-guns-found-stuck-in-tree-in-ontario-close-to-u-s-border-1.5885181?cache=yes%3FclipId%3D104066%3FautoPlay%3Dtrue%3FautoPlay%3Dtrue%3FautoPlay%3Dtrue#:~:text=Provincial%20police%20say%20they're,Canada%20and%20the%20United%20States.

#67 The Regulator on 05.31.22 at 6:49 pm

Meanwhile, the E.U. finally reached an agreement on Russian oil sanctions, aiming for a six month phase in period. Riiiight. Giving a temporary waiver for crude oil delivered by pipeline, without specifying their wind down period. Told you they were bluffing. In Brazil, there are fears of running out of diesel. And India is running out of coal. Strange times.

#68 Garth's Mentor on 05.31.22 at 6:53 pm

The 1st quarter of 2023 will be the start of a buy in opportunity. You can buy in now for a bit of a discount off of the top, but know how the real estate market works.

First the prices swiftly drop when rates increase. Happening now. Then supply builds and suppresses prices for a year or two or until rates get cut again to spur everyone on to go buy real estate. If rates don’t get cut we will have a very boring real estate market that will be balanced (not to hot and not to cold). If they start making money cheap again, prices will whipsaw again like the Covid response.

Here is how I think it plays out. House prices tank (happening now). Then plateau. Supply builds (tons of places to pick from – great for buyers). Then recession hits. Job loss. This time consumer is not as bailed out as Covid. So more weakness in housing, a bit more price dropping. More supply.

Simply put: 2023, 2024, 2025 and beyond will be a soft housing market and new buyers can take their time to get in. This prediction changes if the central banks slashes rates. If rates get cut again, jump in the housing market fast if you can afford it and get approved.

#69 Brian on 05.31.22 at 6:54 pm

I guess they want to keep you stoned in British Columbia!

https://tnc.news/2022/05/31/trudeau-government-decriminalizes-possession-of-hard-drugs-in-b-c/

#70 The Regulator on 05.31.22 at 6:57 pm

# 63 – kommykim : Uncle Joe Stalin prefered the people be unarmed, as did the nazis, who brought in gun control. Who’s obsessing?

Armed resistance against a democratically-elected Canadian government? You are living up to your rep as a Russian troll. – Garth

#71 jess on 05.31.22 at 7:06 pm

Days before the shooting, the Georgia-based company tweeted a provocative image of a toddler holding an assault-style weapon with the caption: “Train up a child in the way he should go, and when he is old, he will not depart from it.”

https://www.washingtonpost.com/business/2022/05/26/daniel-defense-uvalde-shooting-rifle-photo-tweets/

…going after that younger audience? cherry picking biblical phrases?

I remember watching a reporter interviewing an isis dad who was training 3 year olds in how to take apart russian guns put back together and naming the parts.

#72 dragonfly58 on 05.31.22 at 7:12 pm

Fishman , 92. My Winchester 95 makes a very similar sound. 303 British, possibly NW mounted police issue before a great uncle bought it second hand in the 1930’s. It’s actually worth a reasonably tidy sum these days , pre 1910 Model 95. Very few around I am told.

#73 I’ll spell it out for you on 05.31.22 at 7:18 pm

#53 YVR RENTER
This is a financial blog. Why are there gun rights discussions? Can we please cease those!

^^^^^^^^^^^^^
Because it’s also has pharmacist/ science insights as well!

Get over it.

#74 ABC123 on 05.31.22 at 7:24 pm

To anyone : can I get a definition of what the bunny patch is ?

#75 Robert S. on 05.31.22 at 7:25 pm

DELETED (Conspiracy nut)

#76 Yukon Elvis on 05.31.22 at 7:31 pm

DELETED (Gun nut)

#77 AK on 05.31.22 at 7:45 pm

“Trump’s coming back.”
================================

Yes. I can see all the Trump trashing on CNN, BNN and MSNBC getting prepared.

#78 AK on 05.31.22 at 7:49 pm

“The best bet now (says Mr. Market) is the CB rate will rise half a point tomorrow and again July 13th.”
==================================

This morning’s CPI print was a complete disaster. I wonder If they will be able to do much after the July Increase?

#79 History repeats itself on 05.31.22 at 8:02 pm

#1. ROBERT S

Question: why does anyone need a handgun? – Garth

To protect against government tyranny.

You want to shoot the government? Grow a brain. – Garth

^^^^^^^^^^^^^^^^^^^

Garth, please study American history. Perhaps it will give you a better grip on what is unfolding in Canada.

We all see it .. don’t you???

#80 Robert S. on 05.31.22 at 8:08 pm

Ok Garth. Are you in favor of waiting until Russia invades Canada before asking for international help arming untrained citizens how to shoot weapons to defend their freedom from tyrannical government? Or we don’t worry about tyrannical governments until all freedom is lost? This blog is getting less conservative every day. I don’t outsource anything more than I need to – I would suggest others heed this advice.

We live next door to the biggest pile of military assets on the globe. Not too worried. BTW, there is nothing ‘conservative’ about loving guns. – Garth

#81 The Regulator on 05.31.22 at 8:13 pm

# 70 – Armed resistance against a democratically elected Canadian government? You are living up to your reputation as a Russian Troll. – Garth
Who called for that? Uncle Joe was fawned over by the western press while starving people, while Adolf was featured in Life magazine. Facts.

#82 Bard J Lmab on 05.31.22 at 8:23 pm

Now is the best time to invest in Toronto real estate

#83 Robert S. on 05.31.22 at 8:27 pm

We live next door to the biggest pile of military assets on the globe. Not too worried. BTW, there is nothing ‘conservative’ about loving guns. – Garth
______________________

Exactly, which is the only thing in the way of global dictatorship. If it wasn’t for “gun loving American nuts,” Ukraine would have already been toast, as would be much of the Western world- and all democracies. Democracy is the most fragile state of governance – because you can easily vote out ‘gun nuts’ and monopolize violence through the government – but gun nuts never get voted in – it’s a policy born out of (civil) war with dictatorships. People need to study history more often. I don’t personally own any handguns, but I hunt a lot. And if my rifles worry our Canadian government, then all the better. A healthy fear of those who you work for keeps balance – and as we know from this blog – balance is important. I’ll never understand why we can be so confident in a government owning guns, but not legal gun ownership by individuals. Governments are capable, and have cause more violence, than could be ever be accomplished by any individual.

#84 DON on 05.31.22 at 8:29 pm

#67 The Regulator on 05.31.22 at 6:49 pm
Meanwhile, the E.U. finally reached an agreement on Russian oil sanctions, aiming for a six month phase in period. Riiiight. Giving a temporary waiver for crude oil delivered by pipeline, without specifying their wind down period. Told you they were bluffing. In Brazil, there are fears of running out of diesel. And India is running out of coal. Strange times.

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

If you are a troll…you are a smarter one. In 6 months this war could be settled based on the recent chain of events in Eastern Ukraine.

Besides China seemingly wants their turn.

#85 Ponnaps on 05.31.22 at 8:41 pm

Sold Feb-22 : 1.836M
Sold May-22 : 1.525M

https://housesigma.com/app/en/listing/10QqypNJK653LGlV/3944-Beacham-St-Mississauga-L5N6S9-W5621731

Deal gone sour?

#86 Yukon Elvis on 05.31.22 at 8:43 pm

The UK and EU have agreed a co-ordinated ban on insuring ships carrying Russian oil, shutting Moscow out of the vital Lloyd’s of London insurance market and sharply curbing its ability to export crude, according to British and European officials.
Lloyd’s has been the heart of the marine insurance industry for centuries and blocking its members from insuring Russian oil cargoes will pile more pressure on global commodity markets, which have been in turmoil since Moscow’s invasion of Ukraine.

https://www.ft.com/content/10372dd3-be3c-42b9-982b-241a38efcc88

#87 Squirrel on 05.31.22 at 8:48 pm

I’m here for the nuts.

#88 Let me spell it out for you on 05.31.22 at 8:56 pm

#80 Robert S.

Garth reply..
We live next door to the biggest pile of military assets on the globe. Not too worried. BTW, there is nothing ‘conservative’ about loving guns. – Garth
^^^^^^^^^^^^^^

Biggest assets..True.
But assets administered under Mr. Biden leadership is un-nerving to the world. Just
Look at Afghanistan.

US assets are theirs, not ours.
US constitution is theirs NOT ours.
US constitution was written to protect citizens from tyranny, the Canadian government vision is to enhance it.

Canada should not expect to freeload off of the expectation of protection, unless of course they want our water resources. ( California, NM, Arizona etc..) which is coming folks. That’s when the real leverage begins, it won’t be all love and roses.

#89 jess on 05.31.22 at 9:01 pm

the phone call:

The Department of Defense Office of Inspector General released a whistleblower reprisal report on Col. Yevgeny Vindman. In his initial complaint, Vindman alleged that various Trump administration officials, including former President Trump and National Security Adviser Robert O’Brien, took actions against him during his tenure at the National Security Council. These actions, the complaint alleged, were the result of Vindman and his brother’s whistleblowing. The inspector general’s latest report found that Vindman “was the subject of unfavorable personnel actions from administration officials” due to his whistleblowing. You can read the report here and below.

https://www.lawfareblog.com/pentagon-inspector-general-releases-report-reprisals-against-col-yevgeny-vindman
https://abcnews.go.com/theview/video/lt-col-alexander-vindman-aftermath-whistleblower-trump-ukraine-79269914

#90 crowdedelevatorfartz on 05.31.22 at 9:07 pm

BC is decriminalizing hard drugs. Jan 31st 2023

If the police catch you with 2.5 grams or less they will not seize your drugs or charge you with drug possession.
2.5 grams of Meth, Fentanyl, Heroin, etc etc etc.
Its allll good.
Par-tay.
Our incompetent “Justice” system and their limp wristed reaction to the Fentanyl overdose epidemic…

The Woke, politically correct politicians dont want to make hard decisions…..like mandatory drug rehab. mandatory jail time for dealers.

They are too busy hunting legal gun owners.

#91 jess on 05.31.22 at 9:07 pm

The Justice Department filed a civil enforcement action in the U.S. District Court for the District of Columbia on May 17, seeking to compel casino mogul and Republican megadonor Steve Wynn to register as an agent of the Chinese government. The suit alleges that Wynn used his relationship with the Trump administration to advance China’s interests in 2017. According to the complaint, Wynn contacted Trump and members of his administration to relay a request from a Chinese official that the U.S. government remove a Chinese national who was seeking asylum in the United States. The department alleges that Wynn was acting to protect his business interests in Macau.

The complaint is the first affirmative civil lawsuit under the Foreign Agents Registration Act in more than 30 years, according to the Justice Department.

You can read the complaint here or below:

https://www.lawfareblog.com/justice-department-sues-steve-wynn-over-alleged-foreign-agent-activity

#92 Beth on 05.31.22 at 9:25 pm

who needs a hand gun?

Well my late father thought he did, and he hid it somewhere and now that he’s passed no one knows where it is. Dad didn’t needs a hand gun, and neither should anyone, what’s the point.

See it
Want it
Buy it
Forget it

#93 Lord Garth of Izar on 05.31.22 at 9:29 pm

Nothing like electing domestic terrorists to run your country

https://dailyhive.com/vancouver/renting-vancouver-increase-2022

#94 Beth on 05.31.22 at 9:31 pm

Hmmmm, bargain basement housing prices and foreclosures… strange.

Cause just spoke to two of my friends. Both getting a second job…. low and behold, there is a ton of jobs out there seeking workers sooooo they are gonna do a bit of weekend PT work to make sure they got a leg up on the interest increases.

Amazing isn’t it? People getting a second job, is that so unheard of in Canada? Cause the way the peeps in this comment section talk its like 1980 all over again. (NOT)…cause peeps… as long as there is 2 jobs for everyone, they will fight for the home ownership dream by getting an easy second job. Heck, these days as long as you are breathing, you are HIRED. Who asks for references? LOL!!

#95 crowdedelevatorfartz on 05.31.22 at 9:38 pm

BC drug consumption up up up.
We’re #1 in drug consumption.

https://www.burnabynow.com/local-news/morphine-methadone-levels-in-metro-vancouver-wastewater-canadas-highest-5426506

#96 It always amazes me on 05.31.22 at 9:40 pm

DELETED

#97 Juste pour rire on 05.31.22 at 9:44 pm

https://www.realtor.ca/real-estate/24422445/th-112-1830-bloor-st-w-toronto-high-park-north

Buy this 3bdrm street level side street “town house” for $1,624,999 with a killer street view, and part with $400K up front, pay $7500 a month mortgage, plus $1570.63 maintenance and taxes for a grand total of over $9000 monthly.

OR

Rent same 3 bdrm one block over in a very professionally managed building for $2800, and have a view of the park, lake, city

WHAT TO DO?

#98 Beth on 05.31.22 at 9:47 pm

BTW… all of my ‘ownership’ friends, which is most of them, have been paying low interest rates for so long that they owe close to next to nuthin, cause the low interest allowed them to slap a ton on the principal… so even double interest isn’t a make or brake situation.

I do feel sad for all the folks here who missed the boat on low interest times the past 2 decades… and are thinking foreclosures and rock bottom prices in great hoods are in their long awaited future. I wish I was rich enough to help the commenters who are so behind.

When you think about it, ten years of paying low interest…. now they are up for renewal and it’s a MUCH lower loan but at a higher interest rate. Oh well.

#99 Heloguy on 05.31.22 at 9:54 pm

DELETED

#100 Cowtown Cowboy on 05.31.22 at 9:57 pm

Talked to my buddy today, he just bought 4 9mm’s and a .357…Handguns are flying off the shelves…another useless libtard idea

They like to talk about how handgun crime is up, but won’t tell you if those guns were legal or not??? then they’ll try to ban guns, and try to show how gun crime is down, as population increases but guns do not..and people in this country are stupid enough to keep voting them in.

Why would your friend buy four weapons? – Garth

#101 toronto1 on 05.31.22 at 9:58 pm

i see a lot off chatter here about new firearms regulations coming into effect.

smoke and mirrors….. easy pickings that in reality only effects very few people who most likely would not be voting for Libs or NDP anyway.

do some legally registered gums end up being used in crime and on the black market— 100%

what percentage is that? by bringing in this legislation you may reduce that possibility but the demand will be the same for criminals as they don’t buy it legally anyway…. the black market price rises and criminals being criminals will switch to smuggling more in to capitalize on that demand

would tougher sentences also reduce the possibility? sure maybe the same effect maybe not.

criminals are not all that smart so maybe it wouldnt matter anyway

all this is for naught anyway as at some point the Conservatives will be the majority and will make this go away anyway just like the long gun registry ( like a ping pong ball)

Its funny Tuner nation is good character on here but when stuff like this happens, it must be a conspiracy theory ( right after the Nova Scotia shooting) a new assault rifle ban is in place and now after the horrible incident in Texas there is a restricted gun ban? im talking like in days not months….

but for anything else the govt moves at a snails pace… inquires, commissions, investigations

how much of the legislation that is tabled actually gets passed in a session and makes it to royal ascent?

#102 Saw Movie on 05.31.22 at 10:34 pm

Let’s make a deal.

Tomorrow, the Bank of Canada will NOT raise interest rates, because of political pressure from Justin Trudeau’s political constituencies.

You have 24 hours to complete the puzzle.

#103 Cowtown Cowboy on 05.31.22 at 10:43 pm

#100 Cowtown Cowboy on 05.31.22 at 9:57 pm

Talked to my buddy today, he just bought 4 9mm’s and a .357…Handguns are flying off the shelves…another useless libtard idea

They like to talk about how handgun crime is up, but won’t tell you if those guns were legal or not??? then they’ll try to ban guns, and try to show how gun crime is down, as population increases but guns do not..and people in this country are stupid enough to keep voting them in.

Why would your friend buy four weapons? – Garth

Well, ostensibly because he can! But more practically, one for him and one for each of his kids. The .357 because revolvers don’t have the jamming issues of semi’s…I used to have a .45 Colt many moons ago, had the Restricted license and the whole bit, got pretty tired of hitting targets after awhile and now that same restricted license is null and void and I’d have to do the same song and dance all over again…this time with the wifes blessing…

The point that the left seems to miss over and over again, is that the criminals don’t care about the law

#104 TurnerNation on 05.31.22 at 11:21 pm

We pay high taxes for our social safety net! So worth it.
(Wags say one goal of the CV rollout lies toward privatization of health care.)
We are just captive tax farm animals, to be milked.

https://www.blogto.com/city/2022/05/ohip-lifelabs-trending-ontario/
Ontario…if you haven’t had to have bloodwork done lately, or screening tests, you’re in for quite a shock. 86$ dropped at LifeLabs today thanks to @fordnation taking cancer screening blood work off the list of OHIP covered test. Just the beginning of privatization by stealth.
Dr. Carla Edwards
@Edwards10Carla
I have heard this a lot lately from my patients whom I have sent for routine labs in Ontario – things that they never had to pay for before. Out of nowhere! Voters be aware and be warned!


— From the Killing us Softly Dept. Our rulers want us gone. Those burdens on society let them self-select, say our leaders. Only the most deadly drugs on this list:

“British Columbia will become the first jurisdiction in North America to decriminalize possession of “hard” drugs such as illicit fentanyl, heroin, cocaine and methamphetamine.”


— Life in Kanada on the Tax Farm. Our farmer rulers are testing our manure. They love us so and just wish for our health! And to not become a burden.
T2 helpfully has the new assisted dying option. The State will take care of everything.

https://www.cbc.ca/radio/sunday/wastewater-surveillance-ethics-1.6466773
Throughout the COVID-19 pandemic, wastewater surveillance and analysis became a key tool in monitoring and measuring the amount of virus in communities.
But some experts caution that the data collected from these studies could also lead to privacy concerns, especially because samples are often gathered from public sources without individual consent.

#105 BoBP on 05.31.22 at 11:35 pm

Guaranteed to solution.
Any Gun owner can trade in his hand gun for a free surgical 2 inch penis extension. An assault rifle gets you 3 inches.
Problem solved. No more need to compensate

#106 Cici on 06.01.22 at 12:14 am

#74 ABC123

Bunnypatch refers to the distant suburbs of Toronto, where all the urban refugees took flight during the COVID pandemic.

#107 Philco on 06.01.22 at 12:19 am

#18 Shirl Clarts on 05.31.22 at 2:06 pm
#10 Philco on 05.31.22 at 1:11 pm

Don’t post here. Go back to school.

Lol love the feed back…what do you live in. And eat. Go work in a fertilizer plant.
See what makes peeps alive.
An engineering degree tells me all.
Modern society is built on desiel and hydraulics.
Hiding behind your crap handle.
I gaurentee i know more than you.
You tard

#108 Philco on 06.01.22 at 12:26 am

#18 Shirl Clarts on 05.31.22 at 2:06 pm
#10 Philco on 05.31.22 at 1:11 pm

Don’t post here. Go back to school.

Battle of the witts shale we.
Just post and ill give you a #
You can tell me how dumb asses can save the world.
Its all bs.
40 below ill show you how freeze and die. You clowns are clueless.
Theres limitations to everything

#109 millmech on 06.01.22 at 2:48 am

Garth,
They want to make handguns illegal(277 deaths in 2020) and make drugs legal(47,000 deaths per year and growing). I for one can see no problem with this logic lol.

#110 SoggyShorts on 06.01.22 at 2:48 am

#103 Cowtown Cowboy on 05.31.22 at 10:43 pm
#100 Cowtown Cowboy on 05.31.22 at 9:57 pm


The point that the left seems to miss over and over again, is that the criminals don’t care about the law

***************************
They do eventually. Once easy guns are gone the rest become more and more expensive, so fewer are in the hands of criminals. Add to that massive penalties (like the 10-year no parole for possession suggested earlier) and pretty soon you don’t have handguns anywhere.

Meanwhile, if you quiver in fear of the bogeyman coming armed to your home you can still have your shotgun which is better for home defense anyway.

#111 under the radar on 06.01.22 at 4:45 am

Canada has no Castle doctrine or right to keep and bear arms and the law of self defence especially with a gun is decidedly not in favour of gun owners. You will be charged and tried, so if trouble comes, 911 is the first call. However, if law and order should ever break down, being legally equipped seemed responsible to me.

#112 I don’t know on 06.01.22 at 5:06 am

Of course now is a good time to buy, if she can afford to.

The woman illustrates an important point though. Even with their fantastic portfolio and savings, she still wants the home. Everyone does. It’s innate to want land (a valuable resource) for all of us.

Interest rates aren’t going anywhere near as high as everyone expected. And rising rates don’t make housing more affordable. That much is becoming clear. Well, it always was anyways.

Early this year, activity was front loaded as people rushed to lock in low rates. It was a good move since paying around 2% on debt while inflation is 7% is prudent. 20% year over year price increases is completely unsustainable. Everyone and their brother knew that.

People pay what the market will bear, and buy for a number of reasons. Often to raise a family and lay down roots. If that is 30% below asking price, fantastic. If that is 30% above, and they really want the home, so be it.

If you buy a nice home in a good area, locked in a low rate, have other investments, and plan on living there for a long time, go back to sleep.

IDK

#113 I don’t know on 06.01.22 at 5:23 am

01 toronto1 on 05.31.22 at 9:58 pm

A lot of the mass shootings down south were committed by people who did purchase firearms legally though. It’s quite clear ease of purchase is a contributing factor. If making it more difficult dissuades or hinders even a small percentage of would be murderers, it’s worth it.

Usually a seminal event acts as a strong pivot for future events. Sandy hook should have been that event with this issue, but Texas may be the one.

A society where school children are a afraid to go to school, or are in any danger from mass murder, is one in peril. The issue needs to be dealt with. That’s all there is to it.

IDK

#114 Jake on 06.01.22 at 7:57 am

I don’t know, good luck looking to the clowns in power for any real solutions. Every time they touch anything it gets worse and worse. They are well living well and they really don’t care about the commoners.

#115 Geoff H on 06.01.22 at 8:13 am

I think the “protecting against government tyranny” argument is phrased is an American, 18th century type of way that doesn’t seem to relevant or palatable in 2022. However, if you frame it differently, it is a reasonable argument. In a place where the state has a 100% monopoly on firearms two things happen: a) You are 100% dependent on the state to protect you from private citizens looking to do you harm. Where the state cannot respond quickly enough or, worse, becomes incapable of doing so, it’s the biggest, meanest people who dominate and; b) Repressive regimes are more likely to succeed in seizing power where there is less effective resistance .

Canadian gun laws are extremely rigorous and it’s no surprise that over 80%+ of firearms used in crime are illegally imported (TPS). Furthermore, an even greater number of crimes are comitted by unlicensed individuals. The proposed law will perhaps prevent 2% of gun crime while depriving Canadians of a legitimate freedom to practice a sport and to security of their person.

My two cents. It’s a bit disgusting that the Libs are using this tragedy to score political points with a policy measure they know will be ineffective. If they were serious, they would devote all the attention and resources to community policing and border inspection capacity.

#116 Juste pour rire on 06.01.22 at 9:01 am

Forgot to mention about that “town house” floor level condo unit…

The view out of your front windows is onto the garbage collection facility for the buildings across the street, and right next to you is…you guessed it, garbage collection area for the building north of it.

This “TH” needs to drop from $1.625M to maybe $600K to be close to making sense.

#117 Ponzius Pilatus on 06.01.22 at 9:02 am

I’m not sure if there are stats available about this, but I’ll bet that guns kill more immediate family member than burglars or intruders.

#118 Dharma Bum on 06.01.22 at 9:19 am

#19 Joseph R

… a modern, well trained, professional army like the Canadian Forces.
———————————————————————————————————

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

“This is where the Canadian military falls short. In terms of personnel, training and equipment, CAF has rarely been in such rough shape. Government disinterest and lack of direction has reached the point where retired generals are speaking out, offering opinions they say are shared by senior officers still serving.”

https://nationalpost.com/opinion/john-ivison-the-perils-of-neglecting-our-military

#119 Brian on 06.01.22 at 9:22 am

Are more companies ending WFH? Looks like Tesla is leading the change!

https://www.zerohedge.com/markets/pretend-work-somewhere-else-elon-musk-says-all-tesla-employees-must-return-office

“Anyone who wishes to do remote work must be in the office for a minimum (and I mean *minimum*) of 40 hours per week or depart Tesla,” Musk wrote in a company email that was leaked this week.

#120 Dharma Bum on 06.01.22 at 9:30 am

#74 ABC123

To anyone : can I get a definition of what the bunny patch is ?
——————————————————————————————————–

Anything outside of the GTA (or any other MAJOR metropolitan area in Canada like Vancouver, Calgary, Montreal, Ottawa, etc.).

You know:

Hicksville.

Podunk.

Jerkwater.

One Horse Town.

Boonies.

Whistle Stop.

Where the Wal Mart People live.

And the Drywallers (who are still on strike).

#121 Dogman01 on 06.01.22 at 9:50 am

Yanking our chain….

Do you get the feeling this Liberal Government is catty? (sorry Felix)

If you know anything about legal gun ownership in Canada you know they are really just messing around with a constituency that does not vote for them.

You know that the maintenance of Travel Restriction long after every other country has dropped them is just an immature response to the opposition they faced from the Trucker Protests.

https://nationalpost.com/opinion/john-ivison-extending-restrictions-on-travel-a-sign-of-a-government-that-isnt-listening

It is less onerous to enter the US than to return to Canada.

#122 Prince Polo on 06.01.22 at 10:01 am

https://www.bankofcanada.ca/2022/06/fad-press-release-2022-06-01/

Inflation globally and in Canada continues to rise, largely driven by higher prices for energy and food. In Canada, CPI inflation reached 6.8% for the month of April – well above the Bank’s forecast – and will likely move even higher in the near term before beginning to ease. As pervasive input price pressures feed through into consumer prices, inflation continues to broaden, with core measures of inflation ranging between 3.2% and 5.1%. Almost 70% of CPI categories now show inflation above 3%. The risk of elevated inflation becoming entrenched has risen. The Bank will use its monetary policy tools to return inflation to target and keep inflation expectations well anchored.

#123 KNOW IT ALL on 06.01.22 at 10:29 am

Comeback to the OFFICE or get the BOOT!!

https://www.cnbc.com/2022/06/01/elon-musk-reportedly-tells-tesla-workers-to-be-in-office-full-time-or-resign.html

#124 Shawn on 06.01.22 at 10:31 am

Jimmy Pattison?

#31 crowdedelevatorfartz on 05.31.22 at 3:50 pm
@#13 tbone
“The dealer has most likely sent emails asking you to trade in your Audi . so you may want to take him up on it and get a Kia .”
+++
As billionaire Jimmy Pattison once said to his top sales people in the GM Car Dealership business as the full extent of the 80’s recession became apparent….
“Gentlemen it’s time to trade in your Cadillacs….”

Jimmy is still around, still working, still making money.

https://www.jimpattison.com/industries/

****************************************
He owns the audi dealer here in Edmonton.

A great man. Plays a darn good trumpet besides his other skills. When successful billionaires (is there another kind?) speak, I listen.

#125 Outrage on 06.01.22 at 10:31 am

They raised the benchmark interest rate to 1.5 % . What a joke in trying to fight inflation. The IMF says it has to be at least 1 % over inflation rate. PP is so right on the BOC.
Shameful but Canadians deserve what they get just like T2.

#126 Happy Housing Crash Everyone! on 06.01.22 at 10:53 am

50 Basis Points – YAY!!!

https://www.thestar.com/business/2022/06/01/bank-of-canada-expected-to-hike-key-interest-rate-wednesday-as-inflation-rages.html

Realtor Shysters, get ready for a lonely year at the food bank!

#127 Shawn on 06.01.22 at 10:59 am

Grocery Inflation data out today

Year over year inflation as of April:

Highest inflation items:

Vegetable oil, 3 liters – up 67% to $10.67
3 limes, up 48% to 99 cents
Pork shoulder cuts up 31%

7 of the 77 items were up over 30%

A few items decreased in price.

Biggest decrease was potatoes down 15%

Bizarrely, watermelons were not singled out!!

https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1810024501

The point is StatsCan looks at all this stuff. Nothing is manipulated in the data. There is zero evidence of manipulation or political interference – which is really a bizarre theory.

#128 Ponzius Pilatus on 06.01.22 at 11:17 am

#124 Shawn on 06.01.22 at 10:31 am
Jimmy Pattison?

#31 crowdedelevatorfartz on 05.31.22 at 3:50 pm
@#13 tbone
“The dealer has most likely sent emails asking you to trade in your Audi . so you may want to take him up on it and get a Kia .”
+++
As billionaire Jimmy Pattison once said to his top sales people in the GM Car Dealership business as the full extent of the 80’s recession became apparent….
“Gentlemen it’s time to trade in your Cadillacs….”

Jimmy is still around, still working, still making money.

https://www.jimpattison.com/industries/

****************************************
He owns the audi dealer here in Edmonton.

A great man. Plays a darn good trumpet besides his other skills. When successful billionaires (is there another kind?) speak, I listen.
—————-
Audi? He’s moving up the food chain now.
Successful business, for sure.
He was a big union buster when he came up with Save-on-Food.
And gave us the 24 hour super grocery.
I give him credit for putting politics aside and hired the former Premier Glen Clark.
Putting his name on hospital wings is a smart move.

#129 McSteve on 06.01.22 at 5:38 pm

As a gun owner, I don’t get the whole “gun culture” I have a shotgun and a sporting rifle. Both are locked up securely as per government regulations and can be accessed (with ammunition safety stored elsewhere) in about 2 minutes in the event of an insurrection or zombie apocalypse. Hand guns are useless on the battle field anyway. The whole issue is just red meat for the “don’t tell me what to do” anti-social crowd. Gun restrictions have been a thing in Canada since 1885 when this country was a wide-open frontier. Stop being so dramatic.

#130 Spottie on 06.01.22 at 8:40 pm

I remember back in 2000, 10 year GIC rates or CD rates they call them in the US were in the 8% to 8.4% range. Long ways to get there in the US today

#131 Prince Polo on 06.03.22 at 7:45 am

#75 Robert S. on 05.31.22 at 7:25 pm
DELETED (Conspiracy nut)
#76 Yukon Elvis on 05.31.22 at 7:31 pm
DELETED (Gun nut)

I am loving these clarifications in parentheses! Keep it up, please.