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
The Game That Let Canadians Forgive The Liberals — Again

With the Americans winning the first game 3-1, a sense of panic crept over Canada as it headed to Game 2 in Boston. Losing a political battle with Trump was bad enough, but losing hockey bragging rights heading into a federal election was catastrophic for the Family Compact.
“It’s also more political than the (1972) Summit Series was, because Canada’s existence wasn’t on the line then, and it may be now. You’re damn right Canadians should boo the (U.S.) anthem.” Toronto Star columnist Bruce Arthur before Gm. 1 of USA/ Canada in The 4 Nations Cup.
The year 2025 is barely half over on Canada Day. There is much to go before we start assembling Best Of Lists for the year. But as Palestinian flags duel with the Maple Leaf for prominence on the 158th anniversary of Canada’s becoming a sovereign country it’s a fair guess that we will settle on Febuary 21 as the pivotal date of the year— and Canada’s destiny as well.
That was the date of Game 2 in the U.S./Canada rivalry at the Four Nations Tournament. Ostensibly created by the NHL to replace the moribund All Star format, the showdown of hockey nations in Boston became much more. Jolted by non-sports factors it became a pivotal moment in modern Canadian history.
Set against U.S. president Donald Trump’s bellicose talk of Canada as a U.S. state and the Mike Myers/ Mark Carney Elbows Up ad campaign, the gold-medal game evoked, for those of a certain age, memories of the famous 1972 Summit Series between Canada and the USSR. And somehow produced an unprecedented political reversal in Canadian elections.
As we wrote on Feb. 16 after Gm. 1 in Montreal, the Four Nations had been meant to be something far less incendiary. “Expecting a guys’ weekend like the concurrent NBA All Star game, the fraternal folks instead got a Pier Six brawl. It was the most stunning beginning to a game most could remember in 50 years. (Not least of all the rabid Canadian fanbase urging patriotism in the home of Quebec separation) Considering this Four Nations event was the NHL’s idea to replace the tame midseason All Star Game where players apologize for bumping into each other during a casual skate, the tumult as referees tried to start the game was shocking.
“Despite public calls for mutual respect, the sustained booing of the American national anthem and the Team Canada invocation by MMA legend Georges St. Pierre was answered by the Tkachuck brothers, Matthew and Brady, with a series of fights in the first nine seconds of the game. Three fights to be exact ,when former Canuck J.T. Miller squared up with Brandon Hagel. (All three U.S. players have either played on or now play for Canadian NHL teams.)
“Premeditated and nasty. To say nothing of the vicious mugging of Canada’s legend Sidney Crosby behind the U.S. net moments later by Charlie McEvoy.”
With the Americans winning the game 3-1 on Feb. 15, a sense of panic crept over Canada as it headed to Game 2 in Boston. Losing a political battle with Trump was bad enough, but losing hockey bragging rights heading into a federal election was catastrophic for the Family Compact. As we wrote in the aftermath, a slaughter was avoided.

“In the rematch for a title created just weeks before by the NHL the boys stuck to hockey. Anthem booing was restrained. Outside of an ill-advised appearance by Wayne Gretzky— now loathed for his Trump support— the emphasis was on skill. Playing largely without injured Matthew and Brady Tkachuk and McAvoy, the U.S. forced the game to OT where beleaguered goalie Craig Binnington held Canada in the game until Connor McDavid scored the game winner. “
The stunning turnaround in the series produced a similar turnaround in the Canadian federal election. Galvanized by Trump’s 51st State disrespect and exhilarated by the hockey team’s comeback, voters switched their votes in huge numbers to Carney, ignoring the abysmal record of the Liberals and their pathetic polling. From Pierre Poilievre having a 20-point lead in polls, hockey-besotted Canada flipped to award Carney a near-majority in the April 28 election.
The result stunned the Canadian political class and international critics who questioned how a single sporting event could have miraculously rescued the Liberals from themselves in such a short time.

While Canada soared because of the four Nations, a Canadian icon crashed to earth. “Perhaps the most public outcome was the now-demonization of Gretzky in Canada. Just as they had with Bobby Orr, another Canadian superstar living in America, Canadians wiped their hands of No. 99 over politics. Despite appeals from Orr, Don Cherry and others, the chance to make Gretzky a Trump proxy was too tempting.
We have been in several arguments on the subject among friends: Does Gretzky owe Canada something after carrying its hockey burden for so long? Could he have worn a Team Canada jersey? Shouldn’t he have made a statement that he backs Canada in its showdown with Trump? For now 99 is 0 in his homeland.”
Even now, months later, the events of late February have an air of disbelief around them, a shift so dramatic and so impactful on the nation that many still shake their heads. Sure, hockey wasn’t the device that blew up Canada’s politics. But it was the fuse that created a crater in the country.
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
What Connor Should Say To Oilers: It’s Not You. It’s Me.

This just in. Connor McDavid is on track to be the greatest hockey player ever. Apologies to the Gretz/ Orr/ Howe partisans. But if he stays healthy and gets the hell out of Edmonton he will be hands-down the best ever. He is equal measures of Gretzky’s intuitive genius, Orr’s 200-foot impact. Howe’s sandpaper attitude. It’s an honour to watch him.
We know, we know, if he is so great why couldn’t he get the Oilers over the hump, particularly the past two seasons against Florida? Gretz, Orr, Howe all won Stanley Cups while leading their teams. So did Mario Lemieux. Fair point. But Howe in his prime never played more than two series in the postseason. Orr often played just three. Gretz teams often bagelled opponents for years.
McDavid’s teams the last two years have had lengthy paths to tred. Just getting to a Final is a huge accomplishment. Repeating that feat (going seven then six games) in the Final is humungous. It’s exhausting, mentally and physically. That’s why so few teams do it.
Still, that’s not the point. We have been asking since 2018 how long McDavid will hobble his legacy by staying in Edmonton. Those early columns were talking about a team that missed playoffs or did a Maple Leafs fold early on. The current iteration of the Oilers has gotten to the brink. They have players who’ve been around a while. And fell short.

Now the Oilers are an old team, the oldest in the regular season, the oldest team in the playoffs this year. Teams carrying more than two plus-30 players have a miserable track record of winning Cups. And the Oilers have zero Grade A prospects in the pipeline. At 28, McDavid is a young guy on their roster. Not good.
As the hockey world knows he can sign an extension on July 1 to follow the contract he has now. Money will be no object as the NHL salary cap (finally) goes up. Term will be forever if he wants it. His running mate Leon Draisaitl is tied up till age 36. The Oilers desperately want him to stay after the Gretzky fiasco in 1988. So what is he going to do? He’s got national endorsements in Canada, but in the U.S.? Connor who? The sky is the limit.
Oilers fans palpitating over the future of their star were looking for hints as to his mindset when he met the media following the Oilers loss in six games to Florida. It was a chance for him to say he’s staying, he loves the place, his wife is committed to freezing every winter in the Alberta capital. He could have cried and said “Mess told me not to do that”.
What they got was a lot of maybe. Yes, he kept the doors open, but he said he needs time to see the landscape till the clock tolls on July 1. He needs to examine whether this veteran team has a future. Because in a few years they’ll be like Howe’s Detroit teams in the 60s, a played-out dynasty.
Under NHL rules no team can contact him about signing. But he will know that everyone will want him at a max deal. Some will offer no state income tax. Some will have teams on the cusp of the Cup he desires (see Matthew Tkachuk to Florida in 2023). Some will be giant U.S. media cities with the ability to make him what Gretzky became in L.A. Some will offer warm weather and anonymity away from the rink.
These are all knowns. For the impatient, teams can approach the Oilers now about a trade. So he’s holding all the cards. It’s prom night and he gets his pick. Unless Edmonton (gulp) jumps the gun on a trade.

Let’s play Peter Pocklington for a minute here and see this from the Oilers’ POV. Pocklington traded Gretzky, because Peter was broke. That’s not Darryl Katz’s problem. His problem is his team is about to get ancient. There is no McDavid for Draisaitl on the horizon. Plus, you’ve tied up several players (Nurse, Nugent Hopkins) to contracts they can’t hope to play up to. And youngish players coming into free agency.
He must address the other side of the 1988 Gretzky equation. How to get full market value for a superstar? Which means getting another star to help Draisaitl going forward. You could let the two play out the string together in Edmonton, of course. But with so many strong teams in Colorado, Vegas, Dallas, even Winnipeg that would be a hard slog. And by the time you realized that it would be too late.
The smart play, as Michael Corleone would say, is move fast. Trade McDavid before the start of next season for a boatload of young players to supplement Draisaitl. Take a short-term PR hit but live to compete another day.
Of course, Katz is not going to trade McDavid. He’s a fanboy owner. He’ll throw the Rexall kitchen sink at him and hope that’s enough. McDavid will be patient (if he’s smart). The “will-he-sign?” drama will bleed into the next season, a millstone for the team. The distractions will mount before Edmonton realizes that an unsigned McDavid is a liability. And Connor on a max deal with a minus team is no bargain either.
Remember the re-structured Oilers won a Cup in 1990 using Mark Messier and the players they got for Gretzky. Think about it, Edmonton.
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.
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