Canada, data, economy

Alberta grows as BC slows

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167 Comments

How is this possible?

British Columbia, the province formerly known as the best place on earth is forecast to have a sluggish economy for the rest of the year, while Alberta is growing at a ridiculous rate with astronomical population growth.

Have you ever been to Alberta?

I haven’t, but I hear its just full of oil and cattle and cowboys.

Why are they growing while Beautiful British Columbia is mired with a sluggish economy?!

More than 10,500 moved here from outside Canada in the second quarter, making Alberta the third most popular choice for immigrants to Canada, behind Ontario and Quebec.

“It used to be that people came to Vancouver, Toronto and Montreal, and now they also come to Calgary and Edmonton,” White said. “So we are seeing a permanent change in that trend.”

Read the full article here.

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Die Auto Haftpflicht ist dem Recht entsprechend notwendig, damit ein Fahrzeug für den Autoverkehr zugelassen werden darf. Ergänzend existiert die Absicherung über die Auto-Teilkaskoversicherung, die bei Entwendung, Glas-Schäden, Haarwildschaden, Hagel, Tornado, Blitzeinschlag und Fahrzeugbrand bezahlt und auch die Auto Vollkasko Versicherung, die zusätzlich Schaden Ersatz für Schäden durch blinde Zerstörungswut und selber verursachte Unfallschäden reguliert.

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Lenny

Hey Ted if you’re hanging with people making $6.00 an hour why would anyone listen to your advice?

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tedeastside

i knew people making 6 dollars an hour in 2011 in Vancouver. they weren’t too happy either…vancouver just makes people depressed with its terrible wages and job opportunities and unfriendly people,
constant cold rain probably doesn’t help either

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Lenny

“Vancouver is the worst city in canada for career opportunities, wages, standard of living, and quality and friendliness of people”

lol….I was making $6.50 an hour in St Johns NFLD in 1997…unemployment was 20% and everyone was depressed.

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softly

ted, ever been to ANY CITY in Nova Scotia? (with the exception of friendliness).

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tedeastside

Vancouver is the worst city in canada for career opportunities, wages, standard of living, and quality and friendliness of people

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tyler

logic:

Why do you say Troll?

Vancouver is the best city to live in Canada hands down!! Why are we all here. I wouldn’t move. Why don’t you guys???

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tyler

To the new people visiting this blog:

The views presented here are extreme views at one end of the spectrum that says Vancouver Real Estate is overpriced by 25-50%(based on historical ratio of incomes and rents).

There are maybe a couple of blogs in all of Canada that emphasize that RE is out of whack with fundamentals. The Greaterfool website is similar but the author there has an ulterior motive (likes to use our money o invest for a fee).

So…either you say historical fundamentals don’t matter anymore or..that its only a matter of time. That is the debate here…very emotional. Good thing for BPOM that its only online. He is much luckier with this regard than he is with RE.

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logic

#158
nice try troll. next

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#thisisadisaster

I grew up in greater Vancouver, lived in Calgary in my early 20s, no I’m back. Calgary is a highly mediocre place to live. Lots of my friends still live there. Every single one wants to move back here. And if Calgary is mediocre, the rest of AB is straight up awful. People move there because of jobs and money. People are here because of the fact that it is beautiful, and the only truly pleasant city in Canada. People obsess about Vancouver RE on blogs for the same reason.

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ahhh....

OMG GUYS, THE SKY IS FALLING BECAUSE SOME PEOPLE LISTED TOO HIGH!!!!!!!

I HAVEN’T EVER SEEN SOMETHING SELL BELOW LIST IN THE LAST 10 YEARS! THIS TRULY MUST BE A SIGN OF THE END!

Best place on meth Says:
October 3rd, 2013 at 3:45 pm 136

Sales are looking very low so far today, but there’s still a couple of hours left.

Meanwhile:

3575 Vimy Cr, E Van, ask 999K, sold 800K, -20%

5690 Walter Rd, Rich, ask 1.88, sold 1.63, -13%

10331 Whistler Pl, Rich, ask 1.89 sold 1.65, -13%

3966 W. 24th, W Van, ask 3.6 sold 3.14, -13%

Keep those lowball offers coming!

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mac

And ironically, Saver, all the money printing is to help businesses borrow at low rates so they can hire more people and become the engine of the recovery. Haha. What a joke, aye?

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N

Are all my comments being moderated? (this is a test)

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N

I wonder why the following comment is “awaiting moderation.”

” – condos and casinos!”

You repeat yourself.

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Stop it

A bank won’t lend you 300,000, because they don’t know if you will run away with the money or run the company into the ground, and they will be left with nothing. Who cares that it’s been going for 20 years, it could be run for 100 years, and then you could become a crackhead and destroy the company. If your friend stops making payments they can sell his houses, and if it’s at a loss, CMHC will make up the difference. Case closed.

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emmi

Saver, you are demonstrating why housing bubbles are so pernicious. If mortgages are more profitable and lower risk, business development funds get strangled.

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N

” – condos and casinos!”

You repeat yourself.

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egonomics

@saver –

It has to do with asset backed commercial paper. Mortgages and car loans can be originated by the bank, then sold and securitized to outside investors. This way the bank does not carry the loan on the books, absolving them of risk. I have a 20k unsecured line of credit with my bank, because I have a high credit rating and income. I do not currently have a mortgage. Interestingly enough, a lot of people people who have been given mortgages by their banks would not qualify for an unsecured line of credit.

As to why you had difficulty getting the loan, you have to ask the loan officer. But securitization explains why people are able to get mortgages they would not be able to normally get.

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Saver

@YVR I don’t know why are you picking on something totally not related to the point why i am trying to make about lending by the banks. “You said you have no major assets in the business and make 300K per year profit.” Yes. no physical assets. All the money is made by consulting. ” After 20 years in business where did all those yearly earnings go?” Well, i don’t to give all the details in the public blog. Can you forgive me for some anonymity. The business itself is 20 year old. But it changed the hands. So the profit that we are talking about is with previous owner. But, everything is the same: contracts with major oil companies are the same, their spending budgets are the same, consulting fees are the same. The business did not change by… Read more »

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paulb

New Listings 174
Price Changes 90
Sold Listings 101
TI:16659

http://www.paulboenisch.com

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YVR

Saver: “well obviously you did not get the MAIN point of the post. As for not being able to pay for our expansion from our cash flow it shows that you have never run a business.”

Actually I do run a business and I do get the point. You said you have no major assets in the business and make 300K per year profit. After 20 years in business where did all those yearly earnings go? You should have enough retained earnings to buy a 300K mobile home. That is why the bank didn’t lend you the money.

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Saver

@YVR
well obviously you did not get the MAIN point of the post. As for not being able to pay for our expansion from our cash flow it shows that you have never run a business.

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YVR

ILoveCharts: It doesn’t matter how big the bubble gets, the person who is going to get all the blame is the person who pops it. F is trying his best to keep the bubble stable right now but he certainly doesn’t want to pop it. If he did that, it would pretty much guarantee that the pot-smoking pretty-boy would win the next election. The problem is the bubble will pop regardless. The bigger it gets the bigger the pop. F knows this and so does everyone else with a brain (sorry Tyler you are not part of that group with a brain). Canadians debt cannot go up infinitely. Once it stops increasing – pop goes the bubble. F kept his powder dry until the US fed made it clear what they were going to do. Based on the Fed not… Read more »

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Beuller

Presstitutes… gotta love em’

And now a less balanced article; “Vancouver home sales rebound with 64-per-cent upturn” Globe & Mail.

http://www.theglobeandmail.com/report-on-business/vancouver-home-sales-surge-by-nearly-64-per-cent-in-september/article14659128/

“Housing sales surged 63.8 per cent in Greater Vancouver last month as the area’s real estate market regains its footing.”

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mac

So today’s theme is fight amongst yourselves. In other news, what does everyone thing about False Creek Monstrosity 2.0 as per:

http://globalnews.ca/video/861920/false-creek-casino-proposal-take-two

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