Bruce Dowbiggin
Getting Real About Justin’s Real Estate Economy. It Won’t Last
Have you ever been to a concert where a hot new product like Tesla is mentioned and many in the crowd applaud in approval? Have you been at a dinner party when you say you went to a new Thai restaurant, and everyone at the table explodes in rhapsodic glee? Have you ever been to see a comic and he mentions he has the latest iPhone with the nifty camera and people actually cheer?
You see those people cheering a piece of tech or a style of cuisine? Those are the people who believed Justin Trudeau when he told them to sink everything into real estate when interest rates were near zero. They. Will. Believe. Anything. So long as they think it makes them cool kids. Trudeau could say he can control the weather by stopping cows from farting, and they’ll be wearing a bovine flatulence T-shirts pronto.

Now, we can hear you laughing in derision at our skepticism about the real estate-economy that has taken over the nation— the new economy that Justin fed, watered and then bragged about. (To the exclusion of the other cornerstones of our once-dynamic nation state.) The one that will be going to Market one of these days for a meeting with an air compressor.
Again, you laugh. Despite the housing shortage Justin says we can easily accommodate two million new souls a year, no problem. He says Trump was a vile racist for wanting to exclude unhinged radicals from zombie countries back in 2017. The freshly-arrived from Trump’s “shithole countries” with “shithole value systems” and “shithole economies’ will prop up the value of Canada’s two-million dollar cash-cow bungalow in West Van or Etobicoke. And the Happy People believe.
Why? Because Justin and his cabinet are in Control, and they’ll just rein in these types when they get here and start asking that Jews be exterminated or white people surrender the merit system to DEI droogs. That little dustup at the universities where nervous trust-fund virgins claim to be onside with systemic rape? Justin can stop them anytime. Everything is cool. After all, Canada is the model for a postmodern state.
And that stuff about how the Canadian real estate market being 80 percent propped up by drug money, kleptocracy profits and Blackrock? Pshaw. That is just the Far Right Diagolons trying to panic you into hiding your money from the government which just wants to send it to the “shithole” countries in a kickback loop. If nothing else, the banks will save you— if there’s any shareholder value left after this deranged DEI diversion.
Can’t happen here? We know people who were around the EU in 2008 when the U.S. mortgage debacle cratered economies around the world. For years they’d been served by Poles in the service industry, Spaniards in the restaurant kitchens and Bulgarians doing the physical labour. Life was good. Everyone drove a Beemer and owned a condo overlooking the sea.
Then, one day, they noticed that all the airport parking lots were overflowing with Beemers that went unclaimed. No one had paid rent in months. The banks noticed that all these lovely fellow citizens of the EU had drained their savings, reached their cash credit limit on the Mastercard and skedaddled with the dough. Funny, they all must have gone on holidays to once, no?

No. They were gone. Bye bye. Adios. And the credit bubbles in Ireland, Norway, Iceland, France and other EU worthies popped like the champagne they’d been sipping for years on easy credit and idiotic notions of productivity. Nations like Iceland went bankrupt overnight. Counties in England threw their keys on the table. People’s life savings evaporated.
But Justin says that won’t happen here on his co-watch with Jagmeet the Bespoke. Sure, no one under the age of 40 can afford those two-million dollar cash-cow bungalows in West Van or Etobicoke. But those old Boomer geezers will die soon, and after we tax the daylights out of the estate, the kiddos will inherit the house. Probably after we turn it into a four-plex or fine them for having empty bedrooms because they couldn’t afford kids.
One of the ferocious beauties of market economies is their way of periodically turning on themselves when too many people are getting rich too easily. The Canadian RE economy of Justin Trudeau is one of them. It’s about a decade old without any sign of dropping. Life is good. Everyone drives a Tesla and rents a condo overlooking the sea.
Little wonder. Everything he and his faculty lounge of dimwits like Chrystia Freeland, Melanie Joly and Steven Guilbeault have done this decade has been to prop up the value of real estate owned by their real pals in Asia, Europe, the assorted kleptocracies in Africa or the sub-continent. It was like an ad for Chlorox the way these “investors” blithely laundered their dirty money in Canadian condos and low-rises. When news leaked out that mobsters were using casinos in B.C. (where Justin’s maternal side came from) as a laundering station it was covered up very quickly.
But the clock ticks. Even Justin’s former finance minister Bill Morneau is warning that the bubble is going to pop if Justin keeps printing more money to keep the real estate values so unsupportably high. The entire middle class of Canada, which has ridden the real estate train, will see their life savings evaporate like Jody Wilson Raybould’s political career.

No matter. Justin’s been living in government housing since 2015 (some of it with his Mommy). What does a trust-fund nit know about making rent cheques or a mortgage payment? Without Sophie spending like a dervish, he never needs to look at an America Express card again. He’s got 17 more months to build up credits with his future benefactors, and he’s not applying the handbrake now.
Okay, you can applaud now.
Bruce Dowbiggin @dowbboy is the editor of Not The Public Broadcaster A two-time winner of the Gemini Award as Canada’s top television sports broadcaster, he’s a regular contributor to Sirius XM Canada Talks Ch. 167. Now for pre-order, new from the team of Evan & Bruce Dowbiggin . Deal With It: The Trades That Stunned The NHL & Changed Hockey. From Espo to Boston in 1967 to Gretz in L.A. in 1988 to Patrick Roy leaving Montreal in 1995, the stories behind the story. Launching in paperback and Kindle on #Amazon this week. Destined to be a hockey best seller. https://www.amazon.ca/Deal-Trades-Stunned-Changed-Hockey-ebook/dp/B0D236NB35/
Bruce Dowbiggin
Healthcare And Pipelines Are The Front Lines of Canada’s Struggle To Stay United
Ottawa and Alberta have reached a memorandum of understanding that paves the way for, among other things,. a new oil pipeline in return for higher carbon taxes.. How’s it doing? B.C. and Quebec both reject the idea. The Liberals former Climate minister resigned his cabinet post.
The most amazing feature of the Mark Carney/Danielle Smith MOU is that both politicians feverishly hope that the deal fails. Carney can tell Quebec that he tried to reason with Smith, and Smith can say she tried to meet the federalists halfway. Failure suits their larger purposes. Carney to fold Canada into Euro climate insanity and Smith into a strong motive for separation.
We’ll have more in. our next column. In the meantime, another Alberta initiative on healthcare has stirred up the hornets of single payer.
To paraphrase Winston Churchill, “Canada’s health system is the worst in the world. Except for all the other systems.” If there is anything left that Canadians agree upon it’s that their provincial healthcare plan is a disaster that needs a boatload of new money and the same old class rhetoric about two-tier healthcare.
Both prescriptions have been tried multiple times since Tommy Douglas made single-payer healthcare a reality. As a result today’s delivery systems are constantly strained to breaking and the money poured in to support it evaporates in red tape and vested interests.
But suggest that Canada adopt the method of somewhere else and you get back stares. Who does it better? How can we copy that? Crickets. Then ask governments to cut back and create efficiencies. No one wants to tell the unions they are the first to move. As a result, operating rooms sit empty for lack of trained nurses and rationed doctors. The system is all dressed with nowhere to go.

There are many earnest people trying their best to fit the square peg in the round hole. But so far it has produced a Frankenstein quilt of private clinics in other provinces handling overflows and American hospitals taking tens of thousands of overflows or critical cases. Ontarians travelling to Quebec for knee surgery. Albertans heading to eastern B.C. for hips and shoulders. Nova Scotians going to Boston for back surgery.
To say nothing of the legions of Canadians on waiting lists for terminal cancer or heart problems who, in despair of dying before seeing a specialist in 18-24 months, voyage to Lithuania, India or Mexico to save their lives. Everyone knows a story of a family member or friend surgery shopping. Every Canadian health authority sympathizes. But little solves the problem.
Which has led to predictable grumbling. @Tablesalt13 if the Liberals hadn’t surged immigration over the last 4-5 years and if all of the money spent on refugees and foreign aid was redirected to health care how much shorter would Canada’s medical waitlists be?

And if any small progress is made the radical armies opposed to two-tiered healthcare raise a stink in the media, stopping that progress in its tracks. Suggesting public/ private healthcare systems is a quick trip to a Toronto Star editorial and losing your next election.
Into the impasse Alberta has introduced Bill 11 to create a parallel private–public surgery system that allows surgeons to perform non-urgent procedures privately under set conditions, moving ahead with the premier’s announcement last week. The government says the approach will shorten wait times and help recruit doctors, while critics argue it risks two-tier care.
The legislation marks a major shift in healthcare reform in Alberta and faces (shock) strong opposition from the NDP which is pairing these reforms with the province’s use of the notwithstanding clause in banning radical trans surgery and medication for minors in the province.
There are examples of two-tiered healthcare elsewhere in the West. France, Ireland, Denmark, Switzerland and Germany, among others, use a dual-tracked system mixing public and private coverages. Reports FHI, “In the most successful European healthcare systems, e.g., Germany and Switzerland, the federal government handles the PEC risk, via national pools and government subsidies, sparing the burden on individual insurers.” While not perfect it hasn’t produced class warfare.
The Americans, meanwhile learned to their chagrin with ObamaCare (the Affordable Care Act, that government healthcare is not the answer. The U.S. heath system replaces government accounting with health insurance rationers as the immoveable force. Many Americans were outside this traditional system, paying out-of-pocket. Under the Obama plan everyone would be forced into a plan, like it or not.
The AFI continues, “ACA has a flawed design. Its architects meant to appeal to the public, promising what the old system could not fully deliver – guaranteed access to affordable health cover and coverage for pre-existing conditions (PECs). But they were wrong about being able to keep your doctor or your old policy if you wanted.
Previously individual policies had to exclude PEC coverage to be financially viable. Yet employer group policies often covered it after a waiting period, but the extra costs were spread over their fellow workers – a real burden on medium and small-sized companies. Under Obamacare, the very high PEC costs are still spread too narrowly – on each of the very few insurers who have agreed to stay as exchange insurers.”
In other words getting a universal system that helps the needy while not degrading treatment is illusory. Alberta is willing to admit that fact. Like agreement on pipelines it will face nothing but headwinds from the diehards (pun intended) who still believe Michael Moore’s fairy tales about a free system in Canada. And will do nothing to bind Canada’s warring factions.
Bruce Dowbiggin @dowbboy is the editor of Not The Public Broadcaster A two-time winner of the Gemini Award as Canada’s top television sports broadcaster, his new book Deal With It: The Trades That Stunned The NHL And Changed hockey is now available on Amazon. Inexact Science: The Six Most Compelling Draft Years In NHL History, his previous book with his son Evan, was voted the seventh-best professional hockey book of all time by bookauthority.org . His 2004 book Money Players was voted sixth best on the same list, and is available via brucedowbigginbooks.ca.
Bruce Dowbiggin
Elbows Down For The Not-So-Magnificent Seven: Canada’s Wilting NHL Septet
The week after Grey Cup is always a good time to look in for our first serious analysis at how Canada’s NHL teams are doing. So let’s take a quick… WHOA… what’s happening here?
If the playoffs were to begin next week (we wish) then it would be a cold breakfast for teams in Elbows Up. Just two clubs—Winnipeg and Montreal— would even qualify for the postseason. And the Jets have just found out their star goalie Connor Hellybuyck is unlikely to play much before mid-January.
The two putative Canadian hopes for a first Stanley cup since 1993— Toronto and Edmonton— are sucking on vapour trails. After being raked 5-2 by Montreal, the Leafs have just a 24.9 percent chance of making the playoffs. Conor McDavid’s Oilers have a better percentage but their same old goaltending woes and a ticking clock on McDavid’s back.
Granted that, going into the weekend, no team in the East was more than four points out of the wild-card spot while all but three teams were within three points of a playoff spot in the West. But the Canadian teams are stuck behind some premium teams and need lotsa’ luck so they end up like Max Verstappen not Lance Stroll.
Maybe a Canadian men’s Olympic gold medal can reduce the sting of no Cup, no future for another season. But it won’t save the jobs of coaches in Calgary, Toronto and Vancouver unlikely to survive also-ran status. Let’s take a close look at the not-so-magnificent seven starting west to east.
Vancouver: The Nucks have a sterling 4 percent chance of making the postseason as of this writing. In the powerful Western Conference that’s still an insult to a franchise that hasn’t recovered from the hasty 2013 firing of GM Mike Gillis—who won… let us us see… two Presidents Trophies and six Western Conference titles in a row. Since then? Uh, bagel.
It’s nice that Elias Petterson has come back from the morgue this season. But it will come down to goalie Thatcher Demko staying healthy and whether ownership wants to go full tank or just a quarter-tank for a draft pick. Hard to see Adam Foote surviving as coach.
Calgary: Speaking of tanking, everyone in Calgary wants the Flames to do a teardown for the top picks in the 2026 Draft. Everyone, except, for the Flames absentee owner Murray Edwards and his robo-spokesman Don Maloney. They want the five percent chance at a playoff spot and a mid-round first draft pick. The Flames missed the chance to restructure in 2023 when Johnny Gaudreau and Matthew Tkachuk departed. But again, denialism in the management suite tried to make it an even trade with Florida, sign huge new contracts and keep pushing. Bad decision.
Only question here is when does the purge begin and what can they get to help Dustin Wolf— signed for seven more years— in net?
Edmonton: We’ve written at length here and here about the McDavid saga. He and the management team halved the baby with a short-term deal to pretend he’s staying in the Chuck. Their healthy chance of making the playoffs (75.5 percent) says one thing. Their play in the putrid Pacific— they’re given up six-goals-plus five times in just 24 games— says another. But as long as McDavid and Leon Draisaitl stay healthy they might still finesse a ticket to a their third straight Finals ride.
But if they get near the trading deadline and the postseason is a mirage the noise to trade McDavid will be deafening. And the offers staggering for a capped-out team.
Winnipeg: Last year was supposed to be the Jets big year. Okay, that didn’t work out so well. The Jets kept their core together for another chance at finally making a serious playoff run. So it will all come down, as it has in the past, to the health and playoff juju of Hellybuyck. Their ticket out of the Central Division lies in beating powerful Colorado and Dallas and, if that happens, staying healthy.
The Jets would probably just as well their stars didn’t go get beat up in the Olympics, but that’s unlikely. There’s always been a karma about Winnipeg breaking the Canada Cup jinx. Still a long shot.

EAST
Toronto: So you’re saying Mitch Marner wasn’t the problem with the highly rated Maple Leafs never getting as far as the Conference Finals? They’re 3-5-2 in their last ten, their captain is still a sulky figure— only now his output doesn’t make it worthwhile. And the Toronto media is trying to do the players’ will to get coach Craig Berube fired for them. The same problems remain from years previous: dubious goaltending and a shallow talent pool on defence.
The biggest problem for the Leafs is their closing window for success. They’re old, have few tradeable assets in the system and have traded top picks away for short-term gains that never appeared. Expect fireworks after the Olympics if this crate doesn’t get moving. New MLSE boss Keith Pelley has no ties to the current administration and will sweep clean.
Ottawa: The Sens have managed to survive the loss of captain Brad Tkachuck to a broken finger. How? Ottawa have gotten goals from 17 different players which means they have balance. And so far they are above average 5-on-5. All good. They’ve also taken advantage of the mediocrity of the Leafs and other Eastern teams to stay afloat.
Their Achilles heel? Between the pipes. Both goalies have a save percentage under .875 and that ain’t going to cut it come spring. As always finances will limit their trades and manoeuvrability.

Montreal: The Habs were the fashionable pick before the season as the Canadian team most likely to get to the Cup they last won in 1993. Defenceman Laine Hutson is all that he promised last year. The dynamic top line of Cole Caufield, Nick Suzuki and Juraj Slafkovsky have cast back to the days of the Flying Frenchmen. Managing expectations in Montreal’s rabid hockey culture— where a misplaced apostrophe can cause chaos—means never taking anything for granted.
Now if only goaltender Jacob Dobes can keep up his play long enough for Sam Montembault to regain his form the Habs could be a thing in the spring. At this rate they might be the only thing.
Bruce Dowbiggin @dowbboy is the editor of Not The Public Broadcaster A two-time winner of the Gemini Award as Canada’s top television sports broadcaster, his new book Deal With It: The Trades That Stunned The NHL And Changed hockey is now available on Amazon. Inexact Science: The Six Most Compelling Draft Years In NHL History, his previous book with his son Evan, was voted the seventh-best professional hockey book of all time by bookauthority.org . His 2004 book Money Players was voted sixth best on the same list, and is available via brucedowbigginbooks.ca.
-
Food21 hours agoCanada Still Serves Up Food Dyes The FDA Has Banned
-
Daily Caller2 days agoJohn Kerry Lurches Back Onto Global Stage For One Final Gasp
-
National1 day agoEco-radical Canadian Cabinet minister resigns after oil deal approved
-
Addictions22 hours agoManitoba Is Doubling Down On A Failed Drug Policy
-
Alberta22 hours agoNet Zero goal is a fundamental flaw in the Ottawa-Alberta MOU
-
Alberta17 hours agoKeynote address of Premier Danielle Smith at 2025 UCP AGM
-
COVID-1922 hours agoFDA says COVID shots ‘killed’ at least 10 children, promises new vaccine safeguards
-
Energy8 hours agoCanadians will soon be versed in massive West Coast LPG mega-project
