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.

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Shocked
Shocked
9 years ago

@ 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.

fixie guy
fixie guy
9 years ago

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.

Pixy
Pixy
9 years ago

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.

Phil
Phil
9 years ago

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.

Phil
Phil
9 years ago

@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.

, that was awesome!

Anonymous
Anonymous
9 years ago

@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.

jesse
9 years ago

@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

RippedtoShit
RippedtoShit
9 years ago

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?

RippedtoShit
RippedtoShit
9 years ago

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.

Phil
Phil
9 years ago

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.

jesse
9 years ago

September 2011 data Average Sales 109 Total Sales 1094 Average Listings 285 Total Listings 2849 Average sell/list 39% Days in month 21 Days elapsed 10 % days elapsed 48% Expected sales 2,297 Expected listings 5,983 Max daily sales 141 Min daily sales 83 Max daily listings 356 Min daily listings 216 September 2010 data at same point in month Average Sales 99 Total Sales 990 Average Listings 237 Total Listings 2371 Average sell/list 42% Days in month 21 Days elapsed 10 % days elapsed 48% Expected sales 2,079 Expected listings 4,979 Max daily sales 155 Min daily sales 63 Max daily listings 282 Min daily listings 189 September 2010 month end data Average Sales 106 Total Sales 2226 Average Listings 226 Total Listings 4737 Average sell/list 48% Days in month 21 Days elapsed 21 % days elapsed 100% Expected sales… Read more »

Extremely rich Van h
9 years ago

@Girlbear:

(RE market falling apart)

Such low intelligent slogan has been flashing by White Bears for at least eight yrs and those idiot can't find a way to get out of their bear insanity.No matter how they swear that Vancouver RE will have a Tsunami type collaspe-50%plus drop-but our wealthy and hard-working mainland Chinese keep supporting our market with hot and real cash.Even,Canada had a RE collapse in gigantic proportion,Van RE will be as solid as Himalaya because Van is a Chinese dominant city where every economic activity is dictated by China.Vancouver is a city of flowing money whereas White Canada is a place of poverty and welware bum.

808
808
9 years ago

anyone catch the interview on cbc radio this afternoon (3ish)?

I only caught about 10secs, but the topic was "why there is not a housing bubble in Vancouver"

Girlbear
Girlbear
9 years ago

RE market falling apart. Looking at westside realtors site I stalk, every second house says "new price".

It's over.

Girlbear
Girlbear
9 years ago

Inventory….I miss you today… 🙂

Li Kai Shing
Li Kai Shing
9 years ago

Tick Tock Tick Tock..

VCI troglodytes = Borink ?

Friday Free For All red carpet event soon !

Concubines will alert me when it makes anticipated premiere !

NOTICE:

West Van..rent soon (5) months late !!!

Sign over trophy wives as collateral,( or else I check em out and option to put on E-bay)

Patiently Waiting
Patiently Waiting
9 years ago

@Anonymous: You are saying the Boomers managers have failed. They have failed in creating succession. They are fortunate that the generations before them succeeded in that. Its a bad thing when you've made you're elderly self "difficult to replace." No, they can't work until they are 90. I've volunteered with Seniors, and a good number start the steep decline by 70. The sudden death of Jack Layton, as sad as it was, is a reminder that Boomers are not immortal. Heck, I've lost two people in live in their early 40s to cancer. Not mention all the funerals I've attended for people in their 60s. Life is short, many of us will find our own lives shorter than expected, and now we have a generation that may have missed the train. Another one may not depart. GenX, through no fault… Read more »

paulb
9 years ago

New Listings 271

Price Changes 115

Sold Listings 118

TI:16700

If you like the stats updates please “like” our Facebook page http://tinyurl.com/paulandlauren

Website http://www.laurenandpaul.ca

Anonymous
Anonymous
9 years ago

@space889: …When the people who works for the managers have way more education and knowledge than the managers, works harder, in jobs where the said managers wouldn’t even qualify for an interview today based on their education credentials, and get paid way less to boot, there is something really wrong with the job market…….. I think your missing the point. Being a good manager means working smarter, not harder, and taking ownership and responsibility and those traits comes with experience, not with credentials and education. Everyone has credentials and education these days, that's why they make less money and work harder – it's a buyers market when hiring. Work for a few years and see if companies want credentials and education or experience. If anything, boomers will be working into their 90's – because they didn't save anything to retire… Read more »

Anonymous
Anonymous
9 years ago

@paradox: ……Summer is finished in the best place on earth……

Ya, Vancouver has the best weather in Canada…… but only for 3 weeks of the year. God I love the rain!

jesse
9 years ago

@Madashell: Heard that too. Lots of for lease signs. Not sure the correlation to residential though.

Madashell
Madashell
9 years ago

Just talked to a commercial real estate agent for Richmond and he had said the bubble has burst for commerical property. He said the banks wants 50% down and no one's buying. Residential can not be far off.

Li Kai Shing
Li Kai Shing
9 years ago

Not understand round eye concepts ie MAC marketing solutions.

Does this mean Ronald MACDonald is our RE saviour?

Does MACcheese burger emit subliminal messages to buy OVB condos?

Should we invest in double cheeseburgers…… McRib,(aka consolidated mammalian cartilage) OK?…………or "drum roll"…lifeblood of humaanty..the sacred BIG MAC ?

It is time to UNITE, VCU comrades ……….( or else get ass -kicked out of loser basement suite and concurrently forfeit beer and nachos). I can make Vodka out of crow-shite..thus set for life.

VMD
VMD
9 years ago

@painted turtle:

YU? What a awkward name for a project.

"Where do you live?"

"I live in YU and I love it! It's surprisingly spacious inside despite the appearance.. It tends to get cold but I know just how to turn on the heat! It's quite high maintenance though, I think I'll get someone to share it."

patriotz
9 years ago

@space889:

During the darkest days of the 80's bust, lenders were still making 75% uninsured mortgages (the limit at the time) to buyers with decent credit ratings.

I know because I got one. Undoubtedly they were happy to make CMHC-insured mortgages too.

The "vendor financing" stuff is just a Hail Mary from desperate sellers trying to get the maximum price from a buyer with minimum credit worthiness.