Milton Ontario Real Estate, Opinion, & News

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Teddy Stoddard

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As she stood in front of her 5th grade class on the very first day of school, she told the children an untruth. Like most teachers, she looked at her students and said that she loved them all the same. However, that was impossible, because there in the front row, slumped in his seat, was a little boy named Teddy Stoddard…..
Mrs. Thompson had watched Teddy the year before and noticed that he did not play well with the other children, that his clothes were messy and that he constantly needed a bath. In addition, Teddy could be unpleasant. It got to the point where Mrs. Thompson would actually take delight in marking his papers with a broad red pen, making bold X’s and then putting a big ‘F’ at the top of his papers.
At the school where Mrs. Thompson taught, she was required to review each child’s past records and she put Teddy’s off until last. However, when she reviewed his file, she was in for a surprise.Teddy’s first grade teacher wrote, ‘Teddy is a bright child with a ready laugh. He does his work neatly and has good manners…. he is a joy to be around.’His second grade teacher wrote, ‘Teddy is an excellent student, well liked by his classmates, but he is troubled because his mother has a terminal illness and life at home must be a struggle.’His third grade teacher wrote, ‘His mother’s death has been hard on him. He tries to do his best, but his father doesn’t show much interest, and his home life will soon affect him if some steps aren’t taken.’Teddy’s fourth grade teacher wrote, ‘Teddy is withdrawn and doesn’t show much interest in school. He doesn’t have many friends and he sometimes sleeps in class.’
By now, Mrs. Thompson realized the problem and she was ashamed of herself. She felt even worse when her students brought her Christmas presents, wrapped in beautiful ribbons and bright paper, except for Teddy’s… His present was clumsily wrapped in the heavy, brown paper that he got from a grocery bag. Mrs. Thompson took pains to open it in the middle of the other presents. Some of the children started to laugh when she found a rhinestone bracelet with some of the stones missing, and a bottle that was one-quarter full of perfume. But she stifled the children’s laughter when she exclaimed how pretty the bracelet was, putting it on, and dabbing some of the perfume on her wrist.
Teddy Stoddard stayed after school that day just long enough to say, ‘Mrs. Thompson, today you smelled just like my Mom used to.’After the children left, she cried for at least an hour. On that very day, she quit teaching reading, writing and arithmetic. Instead, she began to teach children..
Mrs. Thompson paid particular attention to Teddy. As she worked with him, his mind seemed to come alive. The more she encouraged him, the faster he responded. By the end of the year, Teddy had become one of the smartest children in the class and, despite her lie that she would love all the children the same, Teddy became one of her ‘teacher’s pets.’
A year later, she found a note under her door, from Teddy, telling her that she was the best teacher he ever had in his whole life.Six years went by before she got another note from Teddy. He then wrote that he had finished high school, third in his class, and she was still the best teacher he ever had in life.
Four years after that, she got another letter, saying that while things had been tough at times, he’d stayed in school, had stuck with it, and would soon graduate from college with the highest of honours. He assured Mrs. Thompson that she was still the best and favorite teacher he had ever had in his whole life.
Then four more years passed and yet another letter came. This time he explained that after he got his bachelor’s degree, he decided to go a little further.. The letter explained that she was still the best and favorite teacher he ever had. But now his name was a little longer…. The letter was signed, Theodore F. Stoddard, MD.
The story does not end there. You see, there was yet another letter that spring. Teddy said he had met this girl and was going to be married. He explained that his father had died a couple of years ago and he was wondering if Mrs. Thompson might agree to sit at the wedding in the place that was usually reserved for the mother of the groom. Of course, Mrs. Thompson did.
And guess what? She wore that bracelet, the one with several rhinestones missing. Moreover, she made sure she was wearing the perfume that Teddy remembered his mother wearing on their last Christmas together.They hugged each other, and Dr. Stoddard whispered in Mrs. Thompson’s ear, ‘Thank you Mrs. Thompson for believing in me.

Thank you so much for making me feel important and showing me that I could make a difference.’Mrs. Thompson, with tears in her eyes, whispered back. She said, ‘Teddy, you have it all wrong. You were the one who taught me that I could make a difference. I didn’t know how to teach until I met you.’

(For you that don’t know, Teddy Stoddard is the Dr. at Iowa Methodist in Des Moines that has the Stoddard Cancer Wing.)

 

 

Rate Hikes Could Hurt Overspenders

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The original posting of this story by Report On Business spurred me to add my commentary, is italics throughout.

Over-exuberant Christmas shoppers only have months to get control of their overspending before higher interest rates risk further complicating their lives, credit counselling experts warn.

With Canadians swimming in debt, forecasts of higher interest rates midway through 2010 could push more people over the edge by hampering their ability to pay off expenses.

“It’s a huge concern,” says Laurie Campbell, executive director of the non-profit counselling service Credit Canada.

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Those most at risk are homeowners who must renegotiate their mortgages. Higher rates would increase monthly payments, leaving less to pay other debt.

I don’t read mainstream media consistently, because of the melodramatic way they report things. In Mississauga, with the average house value being in the $360,000 range and a 20% equity, people would have an 80% mortgage, or a mortgage of $288,000. If rates rise 1% all in one fell swoop, the payment would go up by $155 a month. While that is no small chunk of change, it is an easily-manageable amount. That’s less than the cost of buying lunch every working day; it’s less than many spend at Tim Horton’s in a month; and it’s far less than the average person spends unnecessarily on discretionary stuff. Oh, sorry, my readers, I forgot, logic doesn’t trump lousy reporting and scare tactics in the media. My bad.

Spending by Canadian households averaged $71,360 last year, 2 per cent more than in 2007, with shelter representing about 20 per cent of the load.

The Bank of Canada has repeatedly warned of late that record household debt is the biggest risk facing the country’s financial system. Bank Governor Mark Carney said that up to 10 per cent of households could face difficulties in meeting monthly payments when interest rates rise to normal levels.

However, an estimated 40 per cent of mortgage holders with high debt payments could increase their flexibility by suspending accelerated pay-downs on principal.

Um, yeah, okay, I guess the writer has never tried to do that! It’s one thing to increase your principal payments – they love to let you do that. But, in a completely absurd twist of logic, they make you re-apply for a mortgage if you want to lessen the principal payments. Yeah, makes sense to me – when you take away the banks interest income, by paying your mortgage off faster, they greet you with open arms; give them the opportunity to make more interest income and they make you jump through so many hoops. Once again, my bad for thinking logic has any part of all this. No wonder it’s easier to buy a $75,000 car that you could drive to LA & sell for $45,000 than it is to buy a house that ain’t goin’ anywhere!

Of course, presuming you used a great mortgage broker to get your mortgage, and he/she advised you not to write the loan at the higher principal payments, you’ll be fine with this and can just stop making the extra principal payment.

High interest rates have a major effect on a person’s cash flow, said Paul Salewski of Ottawa-based financial, credit and debt counselling agency Doyle Salewski. A doubling of mortgage rates to eight per cent would, for example, increase monthly payments by nearly $500 for homeowners with a $200,000 mortgage.

Please, don’t be so insulting! Talk about fear-mongering!! First of all, does a single breathing person actually believe that they’ll double rates overnight? Does anyone believe that there won’t be massive media attention paid in advance? Your great mortgage broker will be completely on top of things and advising you when to move your mortgage from a Variable Rate to Closed Rate. I’m equally sure that they will have had a chat with you when arranging your mortgage about what the payments would be at higher rates.

“All of a sudden they’re maybe have to increase their payments or who knows what they have to do in order to get by,” he said.

Since it’s too late to avoid the commercialization of Christmas, credit counsellors suggest people look at strategies for dealing with their spending spree as soon as the holidays wind up.

Recommendations include tackling high-interest credit card debt first — obtain a line of credit or consolidation loan if possible, stick to a spending budget and try to amass an emergency fund.

Yeah, that’s the ticket – arrange a line of credit, which usually means it’s going to be tied to prime, and increase your exposure. No, the answer is to start right now on eliminating all that discretionary spending.

Whatever you do, don’t rack up more credit card charges as you develop a plan of action to tackle debt.

Ms. Campbell said there’s no need to have more than one or two charge cards. Paring the number of cards over time will also limit the ability to make foolish decisions.

Despite increased restrictions, she expects that more Canadians will turn to bankruptcy to address their financial problems in 2010. Among them will be high-income earners who have begun to seek credit counselling in greater numbers.

“I think it’s really important for people to understand not to panic,” Ms. Campbell said, adding that help from counsellors is available.

Mark says a huge weight has been lifted off his shoulders since he sought such help to address $10,000 of debt he had amassed following his divorce several years ago.

“I just didn’t know how to quite handle my new freedom,” he said in an interview.

His credit woes caused him mental anxiety, depression and loss of sleep.

The 56-year-old caretaker said his problems worsened when he turned to pay-day loans to accommodate his increased spending on cigarettes, alcohol and general living expenses.

Every two weeks he would pay $25 interest for each $100 borrowed at a store-front operation in Toronto.

“You get to a point where you have to borrow again to get yourself back to where you were,” said Mark, who didn’t want to be identified.

Consolidation of his debt and regular monthly payments should allow him to resolve his financial problems and re-establish his credit within two years.

“As long as I keep a handle on it, it’s OK.”

Sorry, I know that more and more people are facing financial difficulty these days, and a lot of it is brought on by their emotional approach to things. When I was active as a mortgage lender, I was amazed at how many people would have $100,000 in high-interest debt, and $200,000 in equity in their house. They wouldn’t dream of re-financing their house at 7% to pay off their 20% debt, because of the emotional attachment to owning their house free-&-clear. That’s plain crazy!

IF you have a VRM, you need to start now paying attention to all the talk about where interest rates are going. You need to hook up with a mortgage broker, NOT talk to your bank about things, and you need to consider locking in your mortgage NOW.

Sure, I’m pretty conservative when it comes to this, and haven’t taken the ride on the VRM-train.

If you need contact info for a great mortgage broker, just ask.

Flaherty On Housing

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This article came from The Financial Post; I’ll comment on it throughout, in italics.

Think of Canada’s housing market as a ticking time bomb. Think of Finance Minister Jim Flaherty as the unlucky bomb disposal expert called in to deal with the problem.

Flaherty is moving slowly — oh, so slowly — to snip a wire here and there in an attempt to defuse the mess. Problem is, the ticking is getting louder by the minute.

This commentary seems somewhat melodramatic to me, from the perspective of someone working in the trenches of the real estate business.

If the bomb explodes, home prices could plunge. In the worst case, plunging prices could bring on an economic downfall such as the United States, Ireland and Spain suffered after their real estate markets collapsed.

All these people who insist on comparing the Canadian housing market to the US housing market are so misguided – they could not be more different whilst retaining some similarity.

But to make Flaherty’s challenge even more difficult, he still has to convince most people the bomb even exists. At the moment, he’s being cautious in how he describes the problem. He’s being even more cautious in how he deals with it. Perhaps too cautious.

The mere fact that he’s talking about it, and the mainstream media is giving it so much play, would seem to be enough.

Flaherty told Canwest News Service last week that he’s monitoring the real estate market and is ready to intervene if it reaches “irrational” levels. The Finance Minister says he may require homebuyers to put down higher down payments. He may also force them to amortize their mortgages over shorter periods.

No doubt these are excellent ideas. But Flaherty has already tried them.

Seems to me that I keep on reading words to the effect of ‘Where the housing market goes, so goes the national economy’. Who’s going to define ‘irrational levels’? Surely not a bunch of politicians who are watching the national debt grow while raking in untold tens of millions of dollars in lottery revenue each week? Sure, let’s make it harder for people to buy a house, yeah, makes sense to me. NOT!

In July 2008, he made his first tentative move to defuse the housing sector by requiring homebuyers to put down at least 5% of the purchase price of a home.

Actually, he didn’t do that at all. 100% Financing is alive and well and able to be done a number of legitimate ways – need to get 100% finance? Call me for details!

At the same time, Flaherty reduced the maximum amortization period on home mortgages to 35 years from the previous limit of 40 years.

BIG DEAL! Window dressing and nothing more!! Ask your local mortgage broker how many people took a 40-year amortization and you’ll find that few did and the ones who did were the ones the program was aimed at helping – young professionals graduating from school with massive debts and investors looking to turn an iffy ROI into positive cash flow.

His cautious strategy accomplished absolutely nothing. The Canadian Real Estate Association reported the resale price of an average Canadian home hit $337,231 in November, up a stunning 19% from a year earlier.

If a red-hot real estate market during the brutal recession of the past year doesn’t meet Flaherty’s definition of an “irrational” market, it’s difficult to know what would.

Might you want to stop and ask WHY the market has seen prices rise the way it has? Even the most uninformed of Realtors knows why – it’s the beauty of the laws of supply & demand at work. In case the reporter doesn’t know, the less of something there is available, the more it will cost. So the question becomes ‘Why are there less houses available?’ Ummm, perhaps because people are worried about their jobs? And so we have a government who supposedly knows that we are in a Recession and they’re trying to kill off one of the sectors that is doing well? Yeah, makes sense to me!

Yes, interest rates are historically low, but any rational homebuyer has to realize interest rates will inevitably rise. When that happens, many homeowners will face much larger mortgage payments.

Canadians appear unshaken by the risk of higher rates, perhaps because home prices have doubled over the past decade and many buyers assume more gains lie ahead.

If Mr. Flaherty wants some real information, he needs to talk with real estate agents who deal with consumers every day. Then, and probably only then, will he hear that Buyers are NOT going out and spending anywhere near to the max of what they could spend. He’d hear of the many conversations between Buyers and their agents, where the Buyers are figuring what their carrying costs would be in rates jumped by a couple of percent. But hey, that wouldn’t happen for 5 years anyway, right? Surely Mr. Flaherty doesn’t know what the economy will be like in 5 years?

It is difficult, though, to come up with a rational explanation of why home prices should climb from here.

Oh, really? If you look at average house prices across Canada, as a national average, you will see that the average price increase comes out to around 4% per year over the last 50 years. Sure, some years it goes up and some years it goes down, but the trend-line is 4% annual increase. Why is that bad?

Canada’s population growth has been nothing extraordinary. Wage increases have crawled. The supply of new homes has surged and the level of home ownership stands at a four-decade high. Meanwhile, Canadians are aging, which suggests the pace of household formation should be slowing down.

So why are homes still being bid higher? It seems to come down to the widespread conviction that a house is a great investment.

Oh really? Not what we real estate agents hear; we hear that buyers don’t want to enrich someone else, that they’ve got to live somewhere, not why not build their equity instead of someone else’s. Surely Mr. Flaherty is not naive enough to think that people buy a house expecting it to double in value every 3, 5, 8 years?

History suggests this is true only sporadically. Robert Shiller, the Yale economist who warned of both the dot-com bubble and the U.S. housing bubble, has accumulated a mountain of data to demonstrate that the price of a home in the United States over the past century has barely beaten the rate of inflation.

Piet Eichholtz, a professor of real estate finance at Maastricht University in the Netherlands, came to a similar conclusion when he studied real estate prices in an Amsterdam neighbourhood from 1628 to 1973. He found that home prices required 350 years to double in real terms.

If you assume home prices should rise in line with inflation, you come to a dire outlook for Canadian real estate. Taking figures from 1990, 1995 and 2000, and boosting them by inflation during the intervening years, suggests the national average home price should check in around $200,000 — a third less than the current figure.

More sophisticated calculations arrive at similar estimates. David Rosenberg, chief economist at the money manager Gluskin Sheff in Toronto, examined home prices in relation to personal incomes and residential rents. He concluded that prices are between 15% and 35% above levels that are consistent with fundamentals.

“If being 15% to 35% overvalued isn’t a bubble, then it’s the next closest thing,” he writes.

Yeah, yeah, yeah. You lot are missing out on one important factor here – the humanoid emotional

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factor. What on earth does a Dutch study have to do with the Canadian housing market? Why on earth would you assume house prices should only rise in line with inflation?

So what can Flaherty do? He’s already missed the opportunity to defuse the real estate bomb at an early stage. He’s understandably reluctant to raise interest rates when the recovery is still tentative.

He should follow through on his vows to increase down payment requirements and shorten amortization periods. Most important, though, he should loudly caution Canadians on the dangers of taking on more mortgage debt when home prices seem unsustainably high. After all, when a bomb disposal expert can’t do anything else, he can at least warn people to run for cover.

Flaherty should let the markets do what the markets do! The Canadian lending industry is regulated well, and is sufficiently good at protecting itself, by having made it much more difficult to get a mortgage that we don’t need any more government intervention!

You government people want to do something, like maybe what you’re supposed to be doing, why don’t you worry about putting people TO work instead of trying to put them out of work!!!

Of course, this is just my opinion.

Raw Aura Restaurant Port Credit – The New Chef

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Douglas McNish December 2 at 10:30pm

Hello to everyone in this group. My name is Doug and I am a professional vegan chef. I have been cooking for 12 years now in some of the cities best restaurants.

I turned vegan almost 4 years ago and chose to take vegan cuisine on as my passion and love. I have a major life changing story and would love to share it with each and every one of you when I see those smiling faces come through the Raw Aura doors.

While I am currently not completely raw I am vegan and live a very healthy lifestyle.

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I exercise every chance I get and love living life. I am going to dedicate myself and my career to creating the most amazing raw and organic cuisine I can.

I was previously head chef at Live Organic Food Bar and learned to appreciate and understand this type of food and lifestyle. I love flavors, textures and the magic of super foods.

I am in the early stages of writing up a new menu right now so look out for that. There will be parties, tasting menus, themed nights and much much more. If anyone ever has a question regarding food or reservations please do not hesitate to contact me

I look forward to seeing and meeting everyone. Lets make some magic happen……

Doug

_*For those who enjoy language*_

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Those who jump off a bridge in Paris are in Seine.

A man’s home is his castle, in a manor of speaking.

Dijon vu – the same mustard as before.

Practice safe eating – always use condiments.

Shotgun wedding – A case of wife or death.

A man needs a mistress just to break the monogamy.

A hangover is the wrath of grapes.

Dancing cheek-to-cheek is really a form of floor play.

Does the name Pavlov ring a bell?

Condoms should be used on every conceivable occasion.

Reading while sunbathing makes you well red.

When two egotists meet, it’s an I for an I.

A bicycle can’t stand on its own because it is two tired.

What’s the definition of a will? (It’s a dead give away.)

Time flies like an arrow. Fruit flies like a banana.

In democracy your vote counts. In feudalism your count votes.

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She was engaged to a boyfriend with a wooden leg but broke it off.

A chicken crossing the road is poultry in motion.

If you don’t pay your exorcist, you get repossessed.

With her marriage, she got a new name and a dress.

The man who fell into an upholstery machine is fully recovered.

You feel stuck with your debt if you can’t budge it.

Local Area Network in Australia – the LAN down under.

Every calendar’s days are numbered.

A lot of money is tainted – It taint yours and it taint mine.

A boiled egg in the morning is hard to beat.

He had a photographic memory that was never developed.

A midget fortune-teller who escapes from prison is a small medium
at large.

Once you’ve seen one shopping center, you’ve seen a mall.

Bakers trade bread recipes on a knead-to-know basis..

Santa’s helpers are subordinate clauses.

Acupuncture is a jab well done.

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