Here’s your open topic post for friday May 25th.
– Northern BC town suprised by mill closure.
– US new home prices drop 11% in one month.
– Steeper drops predicted.
Whats happening around Vancouver? What are you seeing out there? Post your links, news & anectdotes here!
On mill closures: For now, the effect of mill closures will hardly be felt in the province, as laid off lumber workers can be readily absorbed in the construction industry. It would be interesting to see how the employment market fares once all the big projects complete.
Since this free for all topic is still somewhat current, did anybody catch the Pratt and Taylor (Team 1040) interview with David Cunningham, one of the "leaders" of the Anti-Poverty Committee. Its pretty good, and I'd like to see more of it. What we need is an anti-anti poverty committee.Interview part 1
AFAIK the Liberals have signed long-term deals with many of the public sector unions.Yes, but most Lower Mainland municipal workers don't have contracts yet. Expect the garbage to start piling up soon, just in time for the hot weather.
markx: I think it's bigger than a rare case of any particular couple doing this. A comment on Ben's blog mentioned people offering their services to babysit empty houses, or else gangs/druggies/homeless move in: appliances, plumbing and electrical fixtures disappear and the yard degenerates into a wasteland. That's in California, however; the same population as all of Canada.I found it odd that housesitters for unoccupied homes would ever be needed in GVRD; there's very little speculation going on and everybody wants to live here:)
casual: interesting vid.I would have bought that place at 2027 Richfield (that sold for 526K less than 2 yrs. ago and at half price nobody wanted it).If only it could be magically transported here and turned into a proper Vancouver clown house with 5 different suites. That would really jack up the value.
I heard a radio report a few months ago about Surrey bulldozing abandoned houses. Empty houses ÷ Surrey = Trouble
exvancouverite: I think Fortune magazine featured a California couple housesitting at various homes to save money on rent. They both have good jobs at local university, but the local rent is very high. I think they moved 7 times in 6 months. Not sure if I like such lifestyle, especially if I have a professional job and need need be well groomed everyday for work.
Shouldn't rental homes actually be occupied?This type of thing happens in the U.S. – babysitting flipper houses. free rentWanted: vagabonds with good credit. wtf?
Here's an interesting look at Sacramento, CA.House wouldnt sell at 50% off? Real Estate never goes down?
Yes, reasonable four year contracts that won't expire until after the Olympics are over. They wanted those contracts signed.It will avoid a lot of bad PR and negative images of the province.I'm not a huge Liberal fan, but they did have to cut costs when they came in, and they've given the teachers and others decent contracts and a signing bonus, once they had some extra money. Of course they don't want issues during the Olympics, but overall it seems to be win-win.
"Anecdotally, there has been relative peace on the labour front in the past few years. AFAIK the Liberals have signed long-term deals with many of the public sector unions."Yes, reasonable four year contracts that won't expire until after the Olympics are over. They wanted those contracts signed. It will avoid a lot of bad PR and negative images of the province.
sorry for broken link:http://www.vancourier.com/issues07/054207/entertainment/054207en4.html
The hype:
“It was about the time of the real estate boom. Everyone was excited about Vancouver’s phenomenal growth; there was much wild speculating; a boom period was flourishing. Sane men-those who kept their heads-were few, and not over popular. But the slogan did good work for Vancouver. The objective was attained before the year 1910 was reached.”
The excuse:
“Vancouver’s real estate boom came to a crashing halt in 1914, with the advent of what was then called the Great War. Suddenly properties were selling for a fraction of the prices they’d commanded, just a few years previously.â€
The realization:
The war, Nicolls concluded, couldn’t be solely blamed for the decline. “[It] was our excuse for our failure to make good all the wild speculation of the past few years.”
"Back in the 1970's there was one summer where it seemed like anyone who had a job just took a powder."Anecdotally, there has been relative peace on the labour front in the past few years. AFAIK the Liberals have signed long-term deals with many of the public sector unions.
"Did you forget the late 90's and early 2000's? 6 month bus driver strike, city garbage collection worker strike, school support worker strike, hospital employee strike, etc. I'm actually feeling a lot less impact of strikes in the past 4 years, other than the greyhound."Back in the 1970's there was one summer where it seemed like anyone who had a job just took a powder.You couldn't go to a show, the film projectionists were on strike, couldn't buy a newspaper, Pacific Press was on strike, BC Ferries were having rotating strikes…and worst of all the breweries went on strike – had to go the U.S. to get beer.That was just too much.
> exvancouverite: That landlord in port moody is by no means the most outrageous. I've seen 2 bedrooms in Richmond asking for $3500/month, "executive or professional only".<markx: It wasn't the price or quality of the apartment, both seem reasonable enough; it was the heading that was odd.Beautiful 2 bedroom apartment in the best town of North AmericaThe best town of North America? He means Port Moody. It was news to me.
According to CREB, prices in Calgary are finally dropping and the inventory is rising rapidly!
"The truth is that inflation is hidden in the methodology of their deception, and my hard earned savings are rapidly being devalued. "Well, buy a condo then. Or better yet, borrow to the hilt and buy a condo, if you think Canadian dollar is going the way of the Argentine peso.
"One indicator is more unions going on strike for pay increases. For decades now that has been rare but seems more common lately. Who knows how many non-union workers are going to approach their employers for pay increases (which I plan to do). "Did you forget the late 90's and early 2000's? 6 month bus driver strike, city garbage collection worker strike, school support worker strike, hospital employee strike, etc. I'm actually feeling a lot less impact of strikes in the past 4 years, other than the greyhound.
exvancouverite: That landlord in port moody is by no means the most outrageous. I've seen 2 bedrooms in Richmond asking for $3500/month, "executive or professional only".
"I think wage inflation is just starting as a reaction to the increasing cost of living. "More likely, increasing cost of living is a reaction to the wage inflation, or at least increasing employment rate, as noted in the old VHB blog.
clarke,I think wage inflation is just starting as a reaction to the increasing cost of living. We won't see the stats for a little while but we will notice more strikes.
"I agree inflation is hidden and nobody knows what it really is. One indicator is more unions going on strike for pay increases. For decades now that has been rare but seems more common lately."Only about 30% of the workforce is unionized, and while incomes in Canada have gone up on average about 1.5% per year, oddly enoubh market incomes have remained relatively unchanged over the last several years. I have a hard time seeing present inflation (if it is under-reported) being a wage driven phenomena.
Here's a landlord on craigslist that has plenty of wind in his sails.http://tinyurl.com/3yb4d2Couldn't do without it:(
*Strong economy spurs renters to become homeowners: StatsCan*"Lured by low-interest rates and buoyed by a strong economy, more and more Canadians over the past two decades have opted to let go of their leases and buy homes, thereby driving up prices, according to a Statistics Canada report released Friday."… "Quebec and B.C. have the most households renting, while New Brunswick and Newfoundland and Labrador have the fewest renters. The rental market has grown most notably in B.C. because of high home prices coupled with rapid population growth."http://tinyurl.com/287fbnMore bafflegab from statscan.