Friday Free-for-all! The Jobs Edition

It’s the end of another work week and that means it’s time for another Friday Free-for-all!

This is our regular end of the week news round up and open topic discussion thread, here are a few recent links to kick off the chat:

Target says goodbye Canada
Suncor plans cuts
Sony closing all stores
Bank of Canada warns on economy
Oil affects housing?
RE Commissions to fall?
Vancouver lags on rentals
House of cards
Endless HAM chat can end anytime
Did we say budget surplus? nevermind.
Alberta considers sales tax

So what are you seeing out there? Post you news links, thoughts and anecdotes here and have an excellent weekend!

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patriotz
Member

A house for $1 million: Vancouver vs. 25 other cities

The difference is actually more than may appear at first glance, since the Vancouver property is not only a crap house but in a downscale neighbourhood, while the US properties are mostly in upscale neighbourhoods.

Look at the palace in Phoenix.

patriotz
Member

Also that house in New York (Brooklyn) makes the city look much more expensive than it really is. Probably a redevelopment area.

A much more apt comparison to West Side Vancouver in NYC:

http://www.zillow.com/homedetails/350-Grosvenor-St-Douglaston-NY-11363/32092683_zpid/

bullwhip29
Guest
bullwhip29
regarding the federal budget, election and what not… i think harper’s got the luxury of looking at all the cards before they’re dealt making it next to impossible for the ndp or liberals to make any meaningful inroads whatsoever. imho the election basically ended the moment the new tax breaks and child care tax credits were announced. if the economy goes into the tank in a meaningful way, most will opt for the devil they know vs someone who wasnt even on the radar during the 2008/09 financial crisis (a sequel to which we could be about to witness any moment now). alternatively, if the energy sector were to put in some sort of ridiculous V recovery in a matter of a few months (in this market anything is possible), then the powers that be will revert back to their… Read more »
bullwhip29
Guest
bullwhip29

@ #1
it is becoming more and more obvious to intl investors (and highly skilled workers) that seattle, los angeles and sf have so much more to offer. this will be reflected in RE values in due time. as things are at the present moment, vanc RE is likely the most overvalued in N. America (and possibly a contender for the global title too)

patriotz
Member

@3: “most will opt for the devil they know ”

Most voters have never voted for Harper’s Cons in the first place and all indications are that they never will. What will determine the election is how the other 60+% divides. What I think is most significant about this election is that it will be Harper’s first without Jack Layton leading the NDP.

bullwhip29
Guest
bullwhip29

@ #5
when referring to “most”, i meant those that previously voted for him (and might have been considering a change for whatever reason). imho i think most of these ppl will now maintain the status quo given all the economic uncertainty;

http://news.nationalpost.com/2015/01/15/federal-tories-lead-the-liberals-across-canada-including-in-ontario/

First Past the Post
Guest
First Past the Post

re: @5 “Most voters have never voted for Harper’s Cons in the first place and all indications are that they never will”

Don’t believe that there has been many governments, Liberals included, that ever received a majority of all votes.

patriotz
Member

@7: “Don’t believe that there has been many governments, Liberals included, that ever received a majority of all votes.”

Quite right, last one was Brian Mulroney in 1984.

But that’s the point – it’s the split that determines who wins. If you compare PC+Reform/Con versus Liberal+NDP the totals really haven’t changed much from Chretien’s time to now.

Royce McCutcheon
Member
Royce McCutcheon

I still think that those who should be most upset with Harper et al. are those who are truly conservative in terms of finance and economics.

This government sold out (relative) fiscal/economic health during the financial crisis, juicing the economy in an unsustainable way by massively expanding access to credit (especially mortgage credit) in order to secure a majority government.

“You sacrificed sure footing for a killing stroke.”
– Henri Ducard/Ra’s al Ghul to Bruce Wayne

Brian Ripley
Guest
Brian Ripley

I delayed updating my 6 city housing chart until yesterday when I got the total Canadian MLS sales figures for Dec 2014 to see where the year ended up relative to the peak national sales in Dec 2007 prior to the crash into the March 2008 pit of gloom:

http://www.chpc.biz/6-canadian-metros.html

The national MLS sales number for Dec 2014 is 8% below the Dec 2007 peak.

It doesn’t sound like much of a drop (over 7 years) but it looks like a big miss for 2014 which was a banner year for bidding up prices.

Royce McCutcheon
Member
Royce McCutcheon

And I’ll add that they absolutely should have known it was folly because the financial crisis was precipitated in part due to reckless, massive expansions to credit, particularly in the housing market.

Slagathor
Guest
Slagathor

….Most voters have never voted for Harper’s Cons in the first place …

At the risk of pointing out the obvious, ‘most voters’ have never voted for any of the other parties either.

The Big Shift
Guest
The Big Shift

@#8 It does appear, that the real battle is between the NDP and the Libs as to who will be the ‘progressive’ party. This may take up to a decade to play out with one beating the other to oblivion or the two joining.

This ‘progressive’ party will then go on to represent the ‘have not’ provinces east of the Ottawa River and the cultural elites in the inner cities of Canada’s major centres. The Cons will focus on the West and suburban Ontario.

Royce McCutcheon
Member
Royce McCutcheon

@13, paraphrasing:
This progressive party will then go on to represent the eastern provinces and Canada’s major urban centres. The Cons will focus on the hillbillies in the rural West and white suburban Ontario.

About as subtle. Lame either way.

@Royce McCutcheon
Guest
@Royce McCutcheon

Not really. Chinese, as a group, vote conservative.

@bullwhip29
Guest
@bullwhip29

@4

Canada is no bodies first choice. They came here because it was easy to get in, just lend the government some money. It is now more difficult (end of IIP), so now they are going to the USA.

Interestingly, some of the ‘rich’ that came with the IIP weren’t even very rich. They falsified their net worth ( fraudulent immigration documents from China are well known and documented by globe and mail ), and got their $800k to lend to the government from a loan.

You’ll see a lot of these people in older dilapidated houses Richmond, Burnaby, and Coquitlem.

Mortgageslave
Guest
Mortgageslave

Take a few mins to read over their platform. It’s a longshot but they’ll gain more and more over the next few elections. They just have ideas that make sense. Foraward thinking, the rest are corrupt and will tell you what you want to hear to get elected.

http://www.greenparty.ca/platform/smart-economy

patriotz
Member

@12: “At the risk of pointing out the obvious, ‘most voters’ have never voted for any of the other parties either.”

At the risk of pointing out the obvious, you are wrong.

taylor192
Member

@#1 patriotz

These comparison need to consider property tax. I looked at comparable properties in Tampa that I could buy for the price of my 2bdrm condo… and found the property taxes were 4-5x as high.

Essentially my $500K would only buy $400K in Tampa after accounting for the additional property tax.

taylor192
Member

@#5 and 6

Historically Ontario votes opposite federally and provincially. The ON Liberals have done a terrible job managing the provincial economy, thus they will lean Conservative to avoid more economic uncertainty.. as long as Harper doesn’t pull a Hudak and threaten to lay off tons of public employees.

That said, I think the election will be determined by the ABC campaign – Anything But Conservative. If NDP voters are truly willing to throw their party under the bus to vote Liberal, negating the huge gains in the last election, then the Liberals will win. If this does happen, the federal NDP should look into disbanding, since they will never form a government as long as voters vote strategically.

The Big Shift
Guest
The Big Shift

@#14 “The Cons will focus on the hillbillies in the rural West and white suburban Ontario.”

That stereotype works well… for the 20th century.

The suburbs are not so white. The West and Suburban Ontario is where new immigrants go, and they are non-white, asian, and more economically conservative.

Royce McCutcheon
Member
Royce McCutcheon

@21: Yet you think “cultural elites” is a useful or accurate descriptor of voters in urban areas? Got it. The point was that the stereotypes are stupid and inaccurate.

|Boombust
Guest
|Boombust

Harper is a sociopath. Get him out.

franko
Member
franko
@3 ” most will opt for the devil they know ” Reminds me of Adrian Dix, but what a clever way to bait patz. Can’t think of a better way to raise his leftist hackles. I haven’t voted in a federal election since 2006 when Harper screwed me out of more than $100k with his income trust lie, and there were no other viable contenders. I’m almost ready to forgive and forget as the contenders for 2015 are more hopeless than ever. The Liberal boy wonder is so full of himself that it would be a miracle if he does not crash and burn from “foot in mouth” disease if he ever srays from his safe topics like abortion or legalizing pot, and the archaic labour stance of the NDP is so sadly outdated that they will have trouble hanging… Read more »
Slagathor
Guest
Slagathor

…At the risk of pointing out the obvious, you are wrong…..

At the risk of pointing out the even more obvious, no I’m not.

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