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ALWAYS CONSULT YOUR INVESTMENT PROFESSIONAL BEFORE MAKING ANY INVESTMENT DECISION

Garth Turner

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A best-selling Canadian author of 14 books on economic trends, real estate, the financial crisis, personal finance strategies, taxation and politics. Nationally-known speaker and lecturer on macroeconomics, the housing market and investment techniques. He is a licensed Investment Advisor with a fee-based, no-commission Toronto-based practice serving clients across Canada.

June 15th, 2018 | The Chill

The Greater Fool - Another one bites the dust. Blog dog Steve was not impressed when he logged on to HouseSigma and found the following notice: Based on the current Toronto Real Estate Board regulations, we are restricted from providing sold information to the general public. Effective June 15th, 2018, HouseSigma will only provide sold Information to customers who are working with our agents. Yep. Those […]

June 14th, 2018 | Precious

The Greater Fool - Well, haters – alt-right devotees, idled realtors, mutual fund salesguys, Dippers and screwy Millennials – the following is for you. A nice letter has poured in from a guy named Dan who claims his challenging life was made better by this pathetic blog. Just what my fractured ego needs. Seems you’ve had a rough ride […]

June 13th, 2018 | Could This Be It?

The Greater Fool - Besides legitimizing intolerance, objectifying women, praising dictators and dissing Mr. Socks, here’s another thing Trump fans can think their hero for – an escalation in the cost of money. On Wednesday the Fed grew a pair and joined the president in manspreading. American interest rates ticked higher. It was the second increase this year and […]

June 12th, 2018 | Trumped

The Greater Fool - In a Bud Light-infused moment, it’s possible to see how an under-employed, bitter factory worker in Cleveland, Flint or Gary would support Donald J. Trump, New York billionaire with a personal air force living aside a trophy wife in a golden penthouse festooned with pictures of himself. After all, people now think in Tweets. Drain […]

June 11th, 2018 | Into the Fire

The Greater Fool - Who needs Donald Trump sending T2 to a special place in knuckle-dragging, mouth-breathing, deplorable-heavy, concealed-weapon, MOGA, muscle-car, alt-right Hell? We’ve already found a few places that qualify nicely right here in erudite Canada. And after the weekend’s ridiculous G7 summit, beavers everywhere should be expecting more heat. Not the good kind. Trade wars bring lower […]

June 10th, 2018 | Our Place in Hell

The Greater Fool - That little conflab in Quebec this week – the G7 – cost Canadian taxpayers $800 million. The federal government spent that staggering amount building a media centre, having wall-to-wall cops, compensating local businesses and even outfitting a temporary prison and courtrooms in case protestors (none showed up) got out of hand. Justin Trudeau was supposed […]

June 8th, 2018 | Riding Right

The Greater Fool - No doubt now. Up she goes a month Monday. Interest rates rise again on Wednesday, July 11th, and Ontario’s new preem gets some of the credit. Government of Canada 5-year bonds jumped like an excited gland on the news of a Tory majority Thursday night. So did the dollar. Howcum? The financial markets think Doug […]

June 7th, 2018 | Bring It On

The Greater Fool - Allison is 32, self-employed (runs a family plumbing supply company), single, drives a used Boxster (“my one folly”), owns a tiny bung and thinks she’s fearless. “I have a big tolerance for risk,” she says. “Besides, I’m young, never gonna have kids, own my job and day-to-day things don’t rattle me. So let’s roll the […]

June 6th, 2018 | The Stress

The Greater Fool - When Hanny first reached out to me, 18 months ago, he was starting a website that would plot local real estate stats. Now it’s a fixture (http://TorontoRealEstateCharts.com). “I was going back through my old notes,” he said this week, “and saw that I first contacted you on January 5, 2017 with this chart (aka “peak […]

June 5th, 2018 | Choices

The Greater Fool - Poor Abram. I read his note and felt the panic. I recently deposited 5% for a town house ($860,000) at the end of April. Stupid, I didn’t have subject to selling my condo first. I have until Aug 14, 2018 for closing date. I wasn’t looking to flip or anything just having a baby being […]

June 4th, 2018 | The Conundrum

The Greater Fool - Is Dippernomics finally hitting the Left Coast housing market? Hmm, maybe. Ontario should take note. The NDP’s draconian anti-real estate measures have really not even taken effect yet, but the psychology certainly has. You don’t increase the tax load on homeowners by hundreds of millions a year and expect (a) no change in human behaviour […]

June 3rd, 2018 | Less Evil

The Greater Fool - This Thursday Ontario gets a new government. What a choice. It makes Trump-Clinton look good. Over the weekend the Liberals blew themselves up as premier Kathleen Wynne admitted she couldn’t win. It was a stunning, gutsy, moronic move by a politician who should know it’s not all about her. In a few sentences she cut […]

June 1st, 2018 | Rentiers

The Greater Fool - When Peter and Cynthia sold the working farm west of Toronto to Tom, their kid and heir, they needed a place to stay while they planned the next move. Enter friend Peter, whose duplex in town was half empty. So P&C signed a one-year lease, and everyone got happy. Nine months later Pete took a […]

May 31st, 2018 | The Draggers

The Greater Fool - Given next Thursday’s slugfest in Ontario, plus BC’s latest witch hunt, this blog post was supposed to tell you why landlords are about to be broiled on a spit. But, alas, events have overtaken things. Let’s save the weenie roast for tomorrow. So, how do you like the Trumpster now? The American president on Thursday […]

May 30th, 2018 | The Warning

The Greater Fool - Interest rates will be rising in six weeks – the fourth increase in about a year. The cost of money will rise again after that, likely on October 24th. Don’t say you weren’t warned in advance. The prime rate will be 3.95% by Christmas. The benchmark qualifying rate for the mortgage stress test will be […]

May 29th, 2018 | The Mess

The Greater Fool - If you ever wonder why bother with a balanced portfolio, Tuesday was a good study. Italy kinda blew up (it does that occasionally) raising fears the Eurozone is pooched, which tanked stocks, roiled the currency markets and ensured a new election there just three months after the last one. The result may not be pretty. […]

May 28th, 2018 | Insatiable

The Greater Fool - Lost in the fog of taxes, ageism, generational warfare, eat-the-rich, house lust and moister-bashing is the reality of debt. If we should all worry about one thing (other than drowning polar bears and who the hell mows Kim Jung Un’s hair) it would be this. Debt accumulation has the potential to wreck families and governments. […]

May 27th, 2018 | The Gap

The Greater Fool - Sunday afternoon. The uppity part of town. Two provincial politicians, opposites, face a daunting crowd to debate a polarizing issue. To wit – should some people pay extra tax because they own more, regardless of what they paid, or earn? In BC, and especially Vancouver’s Westside, this is burning issue of fairness. The people who […]

May 25th, 2018 | The Unforgiven

The Greater Fool - Dave runs an independent real estate brokerage northwest of the Big Smoke. “More blog fodder for you to consider,” he wrote yesterday, “not that you are short on topics.” Got that right. “I just connected with someone looking to sell their assignment in Rockwood.  A bit worried at the prospect of owning 2 homes – […]

May 24th, 2018 | They’re Coming

The Greater Fool - Trump punts Kim and tells the US military to “prepare.” Stocks sell off, bonds gain, yields fall as the Korean love-in fizzles. Trade war talk heats up again and even timid Canada gets into the act telling China it can’t buy construction giant Aecon. Washington gets all pissy saying it may impose a 25% tariff […]

May 23rd, 2018 | What Could Go Wrong?

The Greater Fool - Last year over 65% of the money the Big Maroon Bank with The Penguins made on all its retail operations came from – you guessed it – mortgages. But this spring there’s a been a deep, almost shocking, reversal. Listen to what Christina Kramer, head of CIBC’s retail banking, told analysts on a conference call […]

May 22nd, 2018 | Orange Crush

The Greater Fool - Will the Dippers take Ontario? Polls now say the NDP has a shot at winning in a couple of weeks. The so-called ‘Tory Tumble’ is stunning. Just like the way reigning Libs will be punted to the curb – unless people are lying to the pollsters. What does this mean? Why’s it happening? If the […]

May 21st, 2018 | Stuff Happens

The Greater Fool - It’s not often this blog talks about my day job. For good reason. It’s not a commercial – so you don’t see any Google Adwords here or banners for mortgage floggers, banks, thirsty underwear manufacturers or robo advisors.  Over the last decade Canadians have trusted me with a lot of wealth and everybody accepted as […]

May 20th, 2018 | The Latest

The Greater Fool - Will rates jump again in May? Nope, says Mr. Market. Ain’t gonna happen. The latest economic stats (out on Friday) were more tepid than the rate bulls had expected. So, a weaker inflation number caused the dollar to slump and the odds of another set of mortgage increases to wither from 40% to 28%. Having […]

May 18th, 2018 | The Big Suck

The Greater Fool - Steve and Trevor sold me a house a few years back. It was memorable since we did the deal on Canada Day. And those were the gentle days, before governments had become so mean and hungry. S&T made a business of buying original brick boxes in North Toronto, blowing out the back for the ubiquitous […]
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