But we ARE American!
Canada is looking with some nervousness at the Obama administrations proposed ‘Buy American’ jobs act. Hey, we’re in North America too! We’re all Americans here..
Canada is seeking an exemption from the new Buy American provisions in U.S. President Barack Obama’s proposed jobs act, weeks before the exemption for the previous stimulus is set to expire.
Minister of International Trade Ed Fast, citing concerns over a potential “trade barrier initiative,” has launched a round of consultations with Washington to negotiate an extension for a Canadian exemption before a Sept. 30 deadline.
Obama’s proposed $447-billion US American Jobs Act is intended to give a much-needed jolt to a stalled U.S. economy, but in an interview with Evan Solomon on CBC’s Power & Politics Wednesday, Fast characterized the bill as misguided.
“We believe that protectionism is counterproductive, especially during these difficult economic times around the world,” the minister said, adding that 75 per cent of Canada’s trade is with the U.S.
Read the full article over at the CBC.
September 17th, 2011 at 12:48 am
@ paradox
As I was leaving for work this early Saturday morning, the sun was barely out and the rain was (and is) coming down hard…I suddenly realized I know why this city is so expensive and loved by all (insert sarcastic laugh). I hope those who poured millions into living in the self proclaimed “best” “world class city” loves 9 months of rain and darkness. I sure was dreaming of California or West Palm Beach while heading to work.
September 15th, 2011 at 8:09 pm
44 Patiently Waiting Says: "You are saying the Boomers managers have failed. They have failed in creating succession. ….. The jury is out for GenY but it don’t look good for a long time."
Boomers are responsible not only for disappointing children, but also grandchildren? So nothing is Gen X's fault, while all Boomer flaws are sui generis.
September 15th, 2011 at 3:48 pm
I think Ripped to Shit is that freaking ADD guy that used to post on Chipmans blog. He was the one asking for minute by minute updates and always used "it feels like there is change" bullshit. I bet his wife has left him by now since he need for constant market updates was predicated on him keeping his wife happy, who did not want to rent.
September 15th, 2011 at 2:28 pm
Wake up 55, you may want to read my post again, you know, the post where I said we are on pace at the same rate as last year… Last year being the year where prices did not collapse.. Connect the words of my post for a proper understanding.
September 15th, 2011 at 2:26 pm
@Ripped to shit, weird comment, I dont understand why I would need luck. Anyways, each year has "felt" different to me too. That doesnt mean anything. Although I do hope your logic or feel is correct.
@Jesse, that was awesome!
September 15th, 2011 at 2:25 pm
@Phil: We're on pace for having the second worst September for sales in a decade despite record low interest rates. In addition we are either headed towards or all already in a recession. Either connect the dots or follow the rest of your breed over the cliff.
September 15th, 2011 at 2:01 pm
@Phil: So we can calculate months of inventory will be around 7.5. That's holding pattern territory. There needs to be way more inventory and way lower sales to precipitate any meaningful downwards drops. If sellers think this market is "tough", You Ain't Seen Nothing Yet
September 15th, 2011 at 1:50 pm
http://www.chpc.biz/Vancouver_Real_Estate_Chart.h…
Phil, could be just a blip, but….September is shaping up to be weak relative to ten year average (and we have way more units available now, so falling volumes is telling, imho), if prices fall yet again then I think a trend has been established.
Shit could get ugly fast, don't ya think?
September 15th, 2011 at 1:47 pm
I disagree Phil.
It feels different this time, there is an chill in the air now when the subject of Van real estate comes up in conversation.
I think that the next couple of legs will unfold quickly and within a month or so the talk of the town will turn to "how bad could it get"….sure, it starts small but…look out below.
I'm frightened for over leveraged owners/investors.
Phil, good luck to you, you will need it.
September 15th, 2011 at 1:37 pm
Based on Jesses calcs, we are right on pace with last year, sure there are slightly more listings but sales/listings is the same. No collapse last year, no collapse this year. This is getting tiring.