Short Takes: Homeowner Insolvencies, CRA Flouting Court Rules, and more

It’s a strange feeling to watch the beginning of the carnage in the housing market and know that it must get much worse if my sons are to have a chance to buy a home for a price they can afford.

Here are my posts for the past two weeks:

The Inevitable Masquerading as the Unexpected

Inflation Porn

Here are some short takes and some weekend reading:

Doug Hoyes explains why he does “not expect a significant rise in homeowner insolvencies until mid- to late-2023.”  

A judge has ruled against CRA in three appeals of gross negligence penalties, not based on the merits of the cases, but because of CRA’s “egregious” behaviour.  From the judge’s ruling, it seems that CRA is willing to flagrantly violate court rules in cases where they believe taxpayers are guilty of gross negligence.  A powerful government agency such as CRA has no business engaging in such gamesmanship.  If CRA is correct about the conduct of these taxpayers, they should follow court rules and argue the merits of the cases.  Canadians are justified in being upset with CRA not only for flouting court rules, but also for letting allegedly cheating taxpayers off the hook.

Chris Mamula gives an interesting account of the Bogleheads conference.  Apparently, they don’t think much of ESG investing.  I agree.

Kerry Taylor and Dan Ariely have some interesting advice on how to survive a market crash.