Canada inflation hits 18-year-high

[Gilroy]

.... and yet you support the Liberals.... doesn't that suggest some kind of dissonance or misalignment in mental/moral priorities or have you so disassociated morals with the party you support with their actions so it doesn't make you think?

I did think and decided to vote Liberal again.

[Gilroy]

Sounds like the good 'ole Canadian dream......why would you wreck it by labeling something a Liberal or a Conservative thing to do? Some of my best customers are silly servants (teachers, firefighters and cops) and when they call me to do work for them they all want a deal and are all willing to pay CASH to save a couple of bucks. I wonder how they voted in the last election? I could care how they voted because they are padding my TFSA and RRSP.

Good for you John, help pay for those home renovations on the honey do list. LOL

[Gilroy]

I'll wait and see. My money is on, interest rates will go up sooner or later ... that will cause a credit crunch, properties, especially cottages will correct.
Canada is not too big to fall. You do remember what happen to our much bigger brother down south right, in 2008. It bode well for anyone that went shopping for homes in Florida. I'll wait it out ... thank you.

Well Mark I am not a money expert or financial genius but I would like to point out a few thing's to you that you may or not be aware of.

(1) Canada is seen as a safe haven for money from overseas especially from folk's from China and to some extent India.

Just this morning CBC had a story on China's biggest developer just about ready to go bust holding over 300 BILLION in debt
to investors all over the World. Now this is not a new story and that is why the smart money HAS BEEN exiting China in the past few years and getting parked in Canada. The news this morning will accelerate that process and more money will be coming along with the economic class of immigrant. This developer is actually "blowing up brand new condominium's towers" as its cheaper to do than hold onto them. They have according to the report 90 Million unsold units in China. SEE LINK BELOW.
https://www.cnbc.com/2021/09/17/chin...tor-risks.html

(2) The immigration numbers to Canada are going to running at over 400,000 p.a. for the foreseeable future. See my previous link.

(3) Billionaires and millionaires the WORLD over have been buying real estate the WORLD over in order to make the interest rates they desire 10% to 15%. These are the folks who buy up a run down rental apartment block in downtown Toronto, renovate and have it converted to condominiums and kick the old tenants out. This is happening every where, including single family residential units, commercial, anything they can get their hands on to turn a profit.
That is why REIT'S are set up its a pretty good tax strategy for the well heeled.

(4) The type of immigrant we are getting in Canada are simply COPYING what Italians and Portuguese did when they got here. They clubbed their money together ,lived together in a single family unit for years, sold and moved out to their own place.

A house at the back of me sold for 2.1 million, it was a residential home but had commercial zoning and a dentist used to run his practice out of it. It has 12 parking spots, bought by middle eastern folk's and there are at least 4 families now living in that home.

(5) Cottages and land are only going up , even dumpy old homes up north are selling like hot cakes.

I remember about 2 years ago Snow walker got mad at me for posting that a 100 acre parcel beside me of bush land just sold for $120,000.00 he stated that was pretty well impossible. Well it had sold and right now besides that parcel is a 10 acre piece of bush land and they are asking $210,000.00

(6) My wife and I got her disabled brother into a condominium here in central Mississauga. Old building built in 1976, he paid $402,000.00 in April this year this was for a 2 bedroom unit.

We just got our son into the same building two weeks ago with a closing date in the end of November. He paid $428,000.00 for a two bedroom on the 11th floor, which is the penthouse floor, same 2 bedroom in size different layout.
We just got finished visiting with her brother, three days ago a 2 bedroom on that same 11 th floor came up for sale, its listed for $458,000.00 and its not in good a shape as the one my son got. It may sell for more than that.

(7) It you have money parked it better be doing better than my money parked at 1/2% point interest. Even if your making more there is inflation and the interest is going to be taxed in any case.

(8) Another home at the back of me was sold to Chinese for 1.2million dollar's about 3 years ago. The occupants 3-4 students went back to China in April 2020 and did not return. The shingles blew off and the back window was open all last winter and into April this year. The house was then checked and had flooded from top to bottom. Everything went into 3 or 4 large dump boxes, floors ,drywall, furniture, flooring. They put on new windows and door's and just flipped the place for 1.7 million.

(9) The Chinese are buying up everything and not even MOVING into the properties I can give you several examples of this here and up north.

(10) There is a LOT OF MONEY floating around out there, million's of worker ant's in China and India have been exploited for some folks to get so rich, many folk's in England who used to be owner's of homes are now renters, that's where we are at.

So the question is Mark can you afford to gamble and wait to see if your right or do you jump on the bandwagon.

The jocker in the pack and question to be answered is CAN THE WORLD'S BILLIONAIRES manipulate the system again, engineer a upswing in interest rates and CASH IN WITH THE REAL ESTATE MARKET AS THEY DID IN THE USA AND OTHER PLACES IN 2009?

[mosquito]

I did think and decided to vote Liberal again.

Ah.... disassociation then and disregard for the ethical, moral, financial etc failures, we usually identify such as ideologues and there is a long history of similar style of followers. Censorship, lies, coverups, interfering with RCMP and ethics investigations etc. etc. ... all swept away since the decision seems to have been made ahead of time and self justifications imposed.

For those interested in just how far down the moral hole I would suggest reading Solzhenitsyn or Browning. Both show how like the followers of Mao etc. arguments based on evidence, morals, ethics etc. are irrelevant and ignored. Orwell in his fictions also hits on this but many are perhaps unfamiliar with how a police battalion ended up responsible for the murder of thousands so I am including a link.
https://archive.org/details/BROWNING...e/n31/mode/2up

Now back to topic, as the "government" continues to spend and increase inflation the poor and middle classes will take the worst damage and when the carbon taxes and policies that will decrease the incentive to work added we should be looking at adding atleast another 2% or being pessimistic perhaps 5% by the end of the year along with another huge deficit, that hopefully this year they found the missing 9,000 projects that got money and have an idea where they spent the money this time.

[MarkB]

Well Mark I am not a money expert or financial genius but I would like to point out a few thing's to you that you may or not be aware of.

(1) Canada is seen as a safe haven for money from overseas especially from folk's from China and to some extent India.

Just this morning CBC had a story on China's biggest developer just about ready to go bust holding over 300 BILLION in debt
to investors all over the World. Now this is not a new story and that is why the smart money HAS BEEN exiting China in the past few years and getting parked in Canada. The news this morning will accelerate that process and more money will be coming along with the economic class of immigrant. This developer is actually "blowing up brand new condominium's towers" as its cheaper to do than hold onto them. They have according to the report 90 Million unsold units in China. SEE LINK BELOW.
https://www.cnbc.com/2021/09/17/chin...tor-risks.html

(2) The immigration numbers to Canada are going to running at over 400,000 p.a. for the foreseeable future. See my previous link.

(3) Billionaires and millionaires the WORLD over have been buying real estate the WORLD over in order to make the interest rates they desire 10% to 15%. These are the folks who buy up a run down rental apartment block in downtown Toronto, renovate and have it converted to condominiums and kick the old tenants out. This is happening every where, including single family residential units, commercial, anything they can get their hands on to turn a profit.
That is why REIT'S are set up its a pretty good tax strategy for the well heeled.

(4) The type of immigrant we are getting in Canada are simply COPYING what Italians and Portuguese did when they got here. They clubbed their money together ,lived together in a single family unit for years, sold and moved out to their own place.

A house at the back of me sold for 2.1 million, it was a residential home but had commercial zoning and a dentist used to run his practice out of it. It has 12 parking spots, bought by middle eastern folk's and there are at least 4 families now living in that home.

(5) Cottages and land are only going up , even dumpy old homes up north are selling like hot cakes.

I remember about 2 years ago Snow walker got mad at me for posting that a 100 acre parcel beside me of bush land just sold for $120,000.00 he stated that was pretty well impossible. Well it had sold and right now besides that parcel is a 10 acre piece of bush land and they are asking $210,000.00

(6) My wife and I got her disabled brother into a condominium here in central Mississauga. Old building built in 1976, he paid $402,000.00 in April this year this was for a 2 bedroom unit.

We just got our son into the same building two weeks ago with a closing date in the end of November. He paid $428,000.00 for a two bedroom on the 11th floor, which is the penthouse floor, same 2 bedroom in size different layout.
We just got finished visiting with her brother, three days ago a 2 bedroom on that same 11 th floor came up for sale, its listed for $458,000.00 and its not in good a shape as the one my son got. It may sell for more than that.

(7) It you have money parked it better be doing better than my money parked at 1/2% point interest. Even if your making more there is inflation and the interest is going to be taxed in any case.

(8) Another home at the back of me was sold to Chinese for 1.2million dollar's about 3 years ago. The occupants 3-4 students went back to China in April 2020 and did not return. The shingles blew off and the back window was open all last winter and into April this year. The house was then checked and had flooded from top to bottom. Everything went into 3 or 4 large dump boxes, floors ,drywall, furniture, flooring. They put on new windows and door's and just flipped the place for 1.7 million.

(9) The Chinese are buying up everything and not even MOVING into the properties I can give you several examples of this here and up north.

(10) There is a LOT OF MONEY floating around out there, million's of worker ant's in China and India have been exploited for some folks to get so rich, many folk's in England who used to be owner's of homes are now renters, that's where we are at.

So the question is Mark can you afford to gamble and wait to see if your right or do you jump on the bandwagon.

The jocker in the pack and question to be answered is CAN THE WORLD'S BILLIONAIRES manipulate the system again, engineer a upswing in interest rates and CASH IN WITH THE REAL ESTATE MARKET AS THEY DID IN THE USA AND OTHER PLACES IN 2009?

(1), (2), (4), (6), (8), (9), (1) All immigrant demand and international money. Agreed, but let's see if Trudeau will stand by his word and stop oversees non-residents from purchasing homes here. No doubt that's where the demand pressure is coming from ... but in my opinion it is a supply problem ... we have SO MUCH land and yet we have a supply problem??

(3) that's always been the case, for sure over the past several decades. I don't think that features as a "new" pressure.

(5) I believe cottages prices went up as a result of lockdowns, and people wanted to have an outlet ... with us returning back to normal, and let's remember, cottages require maintenance, soon many will realize it isn't for them. That, coupled with a rising interest rate, will cause a correction on these secondary homes ... this is why I target cottages.

(7) Of course I have a variety of investment ... I don't really like holding cash, but some necessary for a rainy day. The reality is access to credit (an empty line of credit is probably one of the best tools to have).

In the end I still believe in economics ... and I believe Trudeau cannot keep spending countless amounts of money, running enormous deficits, with rising inflation (18 year record?), record low interest rates ... without doing something about it ... people are suffering, and the only way to really slow inflation is to raise the interest rate to something more realistic. People will be caught in that mess that ensues ... and the market will change.

[MikePal]

without doing something about it ... people are suffering, and the only way to really slow inflation is to raise the interest rate to something more realistic. People will be caught in that mess that ensues ... and the market will change.

We all know the history..and it will repeat itself because Liberals never learn by their mistakes.

the Bank of Canada rate hit an all-time high of 20.03% in August 1981

Pierre Elliott Trudeau was PM 1980–1984)..

[js4fn]

I was paying 23 7/8 interest then. Fun times

[js4fn]

How many of these you city guys seeing on the roads

[grumpygeezer]

How many of these you city guys seeing on the roads

You wont find one in my driveway!

[trimmer21]

You wont find one in my driveway!

ZERO!!