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Labor Participation Rate lowest since Nov 2001

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Canada’s job market dropped close to 11k jobs in November, but this is after a couple of months of big gains.  We’re sitting now at 6.6% unemployment nationwide.

The good news? We’re seeing gains in full time positions and most of the losses are in part time positions:

Full-time employment grew by 5,700 jobs, while part-time work dropped by 16,300. The goods-producing sector, which includes the manufacturing, natural resources and construction industries, added 17,300 posts, while the services sector lost 28,000.

The 12-month gain came to 146,000 positions, an increase of 0.8 percent, while the six-month moving average for employment growth was 21,300 jobs, down from 27,400 in October.

Read the full article here.

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bullwhip29

@ #4

looks like falling (er…crashing) oil prices were a major red flag for all asset prices. stock markets are finally waking up. this could be the dagger in the heart for over leveraged home owners

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Bullwhip29

Reposting. Sorry,! Entered wrong email address…

@ #4 it’s more like crashing oil prices should be deemed a major red flag for all asset prices. As we speak global markets are finally getting a much needed reality check. This all comes at what is traditionally a very bullish time for investors. No one really believed a Xmas market crash could actually be allowed to happen in this manipulated and rigged financial casino, but low and behold…

homeowners need not worry about rates rising anytime soon. It’s all good. Carry on with your daily activities. See you in the spring.

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Bullwhip29

@ #4 it’s more like crashing oil prices should be deemed a major red flag for all asset prices. As we speak global markets are finally getting a much needed reality check. This all comes at what is traditionally a very bullish time for investors. No one really believed a Xmas market crash could actually be allowed to happen in this manipulated and rigged financial casino, but low and behold…

homeowners need not worry about rates rising anytime soon. It’s all good. Carry on with your daily activities. See you in the spring.

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@23

Just buy a Reit. Much easier, better yield, more diversified and more liquid. Spend your leisure time on vacation, not plunging toilets, looking for good tenants and collecting rent 1000s of miles away.

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rocknrolla

Mortgage Slave,

1) Canadians can get mortgages in the USA. Call up your mortgage broker buddies and ask them. You think the big banks don’t want to exploit this trend, come on now…
For example:
http://www.rbcbank.com/borrowing-in-the-us/index.html

2) See link. There are many spots where the rents far outweigh the carrying costs (including any fixing that needs to be done). 10 minutes on Zillow and you can find hundreds of places in different states that carry..

3) You’re heavily taxed everywhere you go in Canada too.

4) Who said anything about investing ALL your money. I love halloween candy but don’t eat just Peanut Butter Cups – that would be plain silly. You must diversify.

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Xombo

@15:
Is something preventing you from being seen as a good tenant?

I enjoy crack, screaming and setting fires. For some reason this is held against me. I’m glad that the ‘readytorentBC’ course can educate landlords that I’m actually a good tenant.

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rocknrolla

Well in Slagathor! haha

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Shut It Down Already

17, from that BBC link: “Privately, there have been grumblings. In the safety of living rooms or the anonymity of online forums, old-time Vancouverites blame the Chinese for the city’s sky-high property prices, although experts say there’s little evidence to back up the fears.”

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history

What’s happening with the China GEM index today? It Sucketh as bad as the Canadian Venture. Is it a proxy for Growth! Enterprise! and Markets!? Cool acronym. Do acronym’s deleverage?

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China 2.0

Canada prepares for an Asian future

http://www.bbc.com/news/world-radio-and-tv-18149316

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China 2.0

Richmond Reform Event on No.3 Road, Richmond BC

https://www.youtube.com/watch?v=_IgtRVAifZ4

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history

http://www.readytorentbc.net/
Has anyone heard of this govt sponored program?

Basically it’s a welfare scheme for overleveraged home moaners.
Created when oil was at + $100 bbl, not sure if the govt can justify the spending at sub $60 bbl.

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Slagathor

…Coleman is full of it…

You missed the ‘sh’.

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patriotz

@10:

Coleman is full of it. The average length of stay for tenants is low enough that rent controls are moot for all but a small % of rental dwellings, since landlords can ask for any rent they want from new tenants.

We also have statistics showing that the average rent increase is lagging the permitted amount.

Of course the reason landlords can’t recover ownership costs from rent is simply that there is a bubble, which the provincial government is trying to deny.

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@ #4

Isn’t timber most important to BC economy? I have not heard BC oil.

Timber prices are very near to follow our house prices since the Olympics.
https://ca.finance.yahoo.com/echarts?s=WFT.TO#symbol=WFT.TO;range=5y

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web design

web design This is a very very helpful part of facts. I’m thankful that you simply contributed this beneficial facts with us. You need to stay all of us advised like that. Many thanks expressing.

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Many Franks

Rental Crunch: Housing minister warns of possible hikes under rent-control system: Talk by the provincial government about possible hikes to rent controls is sure to send shivers up the spine of B.C.’s 1.1-million renters. The current system of rent controls, which has been in effect since 2004, is defined as a two per cent increase per year plus the rise in the Consumer Price Index, which is currently running at 1.1 per cent. Housing Minister Rich Coleman told The Sunday Province that discussions will be held soon, with a view to perhaps permitting the level of increases to be set higher. Coleman has concerns about cost increases that landlords are unable to recover under the present formula. Of course, there are long-term renters who are now benefiting from lower-than-normal rents — but rents are also set by the market when… Read more »

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Bull! Bull! Bull!

>And that will obviously go smoothly, having no unintended consequences, either economic/geopolitical or otherwise.

ok, whatever. i don’t create foreign policy i just report it. so don’t direct your complaints to me, i can’t do anything about it.

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Mortgageslave

I didn’t read your link but the trade of the year would to have used the proceeds to buy US large cap equities. A few points your are missing in regards to buying US real estate:

1) Canadians can’t get a Mortgage in the US
2) You have to be a remote landlord and have to pay for ANY work to be done (cleaning, repairs etc).
3) You get heavily taxed (rental proceeds and captial gaines).
4) Too much time invested to go through all this process plus it’s risky to have all your $$ invested in real estate.

I looked into buying in the US and few years ago and decided that it wasn’t worth my efforts. US equities were much easier and payed just as good, if not better.

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Shut It Down Already

“The trade of the decade was selling your Vancouver home last year at record highs, exchanging your dollar for par, and buying a home in Arizona or Florida.”

Where do you live for the other 6 months of the year?

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NOM NOM NOM

@ BBB….

… And that will obviously go smoothly, having no unintended consequences, either economic/geopolitical or otherwise.

But don’t worry Bull x 3, it will for sure result in all the Russian Oligarchs flocking to Vancouver to pay for 1920’s craftsman houses on the Westside for ever increasing millions dollar increments.

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Bull! Bull! Bull!

the only thing the crude collapse will bust is what it’s desinged to bust: Putin’s hold on power.

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southseacompany

“Could oil’s fall finally burst the real estate bubble?” Globe & Mail http://www.theglobeandmail.com/report-on-business/rob-commentary/rob-insight/could-oils-fall-finally-burst-the-real-estate-bubble/article21983217/%3bjsessionid=X9L7JFnK1xdM2JvkDsCggjWdRxj3r027H2tGdztbZ9QDJ63VJFr0!-1953005723/?ts=141208130114&ord=1 Link is subscription only, but here’s the entire article; “It’s getting close to that special time of year when Canadians gather with families and friends to indulge in a cherished national pastime – bragging about how much our homes have soared in value. This year the boasting will depend on where you happen to live. When the Teranet House Price Index for November is unveiled on Friday, it’s likely to show that the residential frenzy continues unabated in Vancouver, Calgary, Hamilton and Toronto. In contrast, Victoria, Ottawa and Halifax may display more signs of flattening or even outright decline. The two-speed market is raising concerns that real estate is in for tougher times after years of generous giving. Teranet’s index, which tracks the resale prices of homes,… Read more »

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Slagathor

…The trade of the decade was selling your Vancouver home last year at record highs, exchanging your dollar for par, and buying a home in Arizona or Florida. ….

Ya, but the commute to Metrotown is brutal.

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