Over the last few days I have been following our good mayor, who was berating people that own residential rental property, for “Gouging”. He claims that he also owns rental property and of course, he is not gouging. I owned a small part of some rental properties from 1980 until about 1997. The major part of the holding was the mortgage company of course.
During this time it was quite popular to condemn the landlords and cry out for rent controls. Rental property was certainly at a premium at the time, and the vacancy rate was very low. Some folks never will get supply and demand, the idea that if there is no money to be made in it, I will not build it. So there goes the rental properties!
Sure you can expense the taxes, utilities, insurance, interest costs and so on against your rental income, to to produce a net profit. Let me explain that in the low years, there might not be any net income, just a loss! During other years when no empty apartments were around, one made up some of what was lost previously.
Our good mayor, is a Liberal for sure, a “do-gooder” as well, and an academic, having been a professor at the University. For all of that he has little idea it seems of the economics of residential housing rentals.
Karin Klassen is a Calgary writer who writes a column in the Calgary Herald on a regular basis. She has a wonderful column in the Herald today, on rental housing and Mayor Nenshi’s ideas. If you ever thought that rent control was the answer to all the renters woes, take a look at Karin’s column. Klassen
TODAY’S WEB SITE:
The first page has to do with the use and dangers of use of E15 gas in your car. Unless you vehicle is engineered for E15, it can corrode fuel systems, settle out and cause engine failure since the octane rating is lower on E15 gas. Also you will not go as far on a gallon of this gas either, so even if it is a bit cheaper, you will not go as far on a tank. Most auto manufacturers will void your warranty. If you would like to pass this on to others feel free to do so.
Take a look: E15 Gas
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I have always enjoyed magic shows, but when a young lady combines magic with a ballet dance, it is even more mystical. The video is not English, but it is a great show nonetheless! Check it out: Magic Dance
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This is yet another magic kind of thing, all done by an older Japanese man. He will certainly keep you guessing as well as entertained! Check it out here: Old man magic
TODAY’S QUOTE
The hardest years in life are those between ten and seventy.
Helen Hayes
EXIT LAUGHING:
Olaf Swenson, out in his pasture in northern Minnesota, took a
lightning-quick kick from a cow… right in his crotch Writhing in agony, he
fell to the ground.
As soon as he could manage, he took himself to the doctor He said: "How bad
is it Doc? I’m going on my honeymoon next veek and my fiance, Lena, is still
a Virgin — in every vay."
The doctor told him, "Olaf, I’ll have to put your willy in a splint to let
it heal, and keep it straight. It should be okay next week, but leave it on
dere as long as you can."
He took four tongue depressors and formed a neat little 4 sided splint, and
taped it all together… quite an impressive work of art.
Olaf mentioned none of this to Lena, married her, and they went on their
honeymoon to Duluth . That night in the Motel 6, Lena ripped open her blouse
to reveal her beautiful, untouched breasts. She said: "Olaf…you’re the
first vun! No vun has EVER seen deez."
Olaf immediately dropped his pants and replied: "Look at dis Lena … still
in DA CRATE!"
Have a Great Day, and be nice to one another.
Ross 
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