tag:blogger.com,1999:blog-7123542260692860177.post5806416887512900461..comments2023-12-02T00:38:46.467-08:00Comments on House Hunt Victoria: The Warren Buffet wayHouseHuntVictoriahttp://www.blogger.com/profile/07456914359088891317noreply@blogger.comBlogger135125tag:blogger.com,1999:blog-7123542260692860177.post-47597862912809172502009-03-15T16:29:00.000-07:002009-03-15T16:29:00.000-07:00Money doesn't have to end up in Joe Public's hands...Money doesn't have to end up in Joe Public's hands to be devalued. The devaluation occurs by the mere printing.<BR/><BR/>The only reason inflation isn't showing up is they don't count energy and food. Factor that in, and there's never been any deflation whatsoever.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-78986132241403389702009-03-15T09:07:00.000-07:002009-03-15T09:07:00.000-07:00"Anything that can be printed in such ludicrous qu..."Anything that can be printed in such ludicrous quantities"<BR/><BR/>They are printing but it's only going to the big boys. Not one cent is winding up in Joe Public's hands. What they are experiencing is deflation, NOT inflation - with some state sponsored welfare for the banks.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-33849601125063088392009-03-15T08:27:00.000-07:002009-03-15T08:27:00.000-07:00"Germany may pull out of the Euro."---------------..."Germany may pull out of the Euro."<BR/>---------------------------------<BR/><BR/>"Germany would pull out of the Euro only if the ECB abandoned its mandated goal of controlling inflation."<BR/><BR/>"I'm not agreeing with you."<BR/><BR/><BR/>"Germany cannot "pull out" of the Euro. "<BR/><BR/><BR/><BR/>Flip flop all you want patriotz. You used the same words as me but your always right anyhow. <BR/><BR/>According to all my research the Euro would not collapse,it would just devalue by 50% so there would still be a Euro like there would still is a Peso and all those other third world currencies. But then again I'm not an economist like yourself so what do I know.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-31807220648879174032009-03-15T03:35:00.000-07:002009-03-15T03:35:00.000-07:00People are stupid and/or ignorant; what else can y...People are stupid and/or ignorant; what else can you say?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-84630804119909868252009-03-15T01:36:00.000-07:002009-03-15T01:36:00.000-07:00CTV covered the Reflections auction with a pump pi...CTV covered the Reflections auction with a pump piece on Friday night. They interviewed Peter Gaby, who described the discounts, and then you could hear the reporter say "That's an incredible deal!" with 100% sincerity.<BR/><BR/>I wouldn't doubt if the reporter bought one of the condos, with the way he was fawning over the hype.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-983112295592385342009-03-14T23:26:00.000-07:002009-03-14T23:26:00.000-07:00dub said "I find it suprising that there were actu...dub said "I find it suprising that there were actually 15 people around that thought they were getting a good deal"<BR/><BR/>They won't think they got a good deal in a few months after the final liquidation sale or unreserved auction. They gotta unload those last 25 units somehow.<BR/><BR/>Even Bare Mountain is unloading now with 40% discounts on their web site.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-11441836437785436952009-03-14T23:10:00.000-07:002009-03-14T23:10:00.000-07:00Reflections had their so-called auction today. Of...Reflections had their so-called auction today. Of the 40 available units, they only sold 15 of them.<BR/><BR/>I find it suprising that there were actually 15 people around that thought they were getting a good deal...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-2584725533435296402009-03-14T22:16:00.000-07:002009-03-14T22:16:00.000-07:00Anyone who bets on the US dollar and equities won'...Anyone who bets on the US dollar and equities won't need a shrink, they'll need a streetsweeper when they jump out of the nearest high story window.<BR/><BR/>Anything that can be printed in such ludicrous quantities without any oversight whatsoever won't be worth the paper it's printed on. Just a matter of time now.<BR/><BR/>And you can take that down to the empty mall suite that used to be the bank.<BR/><BR/>I'm telling you now because you won't be able to hear me when you're roadkill.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-70819926426347187562009-03-14T21:39:00.000-07:002009-03-14T21:39:00.000-07:00How the hell is that backward if you are agreeing ...<I>How the hell is that backward if you are agreeing with me ?</I><BR/><BR/>I'm not agreeing with you.<BR/><BR/>There can be no Euro without Germany participating. Germany cannot "pull out" of the Euro. Nor will France because the Euro was their idea.<BR/><BR/>Club Med is not big enough to dictate Euro policy. The northern members will do that. If the Club Med countries decide to go it alone, that's their problem.patriotzhttps://www.blogger.com/profile/11154064267408955762noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-63408759531815036012009-03-14T20:09:00.000-07:002009-03-14T20:09:00.000-07:00I was just at Costco today and the recession is no...I was just at Costco today and the recession is now over. I haven't seen it that busy since Christmas time. Everyone was buying BBQs and other stuff. Amex was down too so everyone was paying cash or LOC. The good times are here again!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-16785756688124887542009-03-14T15:34:00.000-07:002009-03-14T15:34:00.000-07:00Nice one VG. You guys are too funny, you need the...Nice one VG. You guys are too funny, you need the anonomous posts just to keep yourselves from eating each yourselves starting from the tail end. LOL Just kiddin,eh.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-19285461131707258462009-03-14T12:45:00.000-07:002009-03-14T12:45:00.000-07:00I said:"Germany may pull out of the Euro."you said...I said:<BR/><BR/>"Germany may pull out of the Euro."<BR/><BR/><BR/>you said: <BR/><BR/>"That's backward, the Euro is essentially the German mark made generic. Germany would pull out of the Euro only if the ECB abandoned its mandated goal of controlling inflation."<BR/><BR/><BR/>How the hell is that backward if you are agreeing with me ? lol. <BR/><BR/>I am not debating the currency originization as I am no expert on that like yourself,just commenting on what seems to be a common theme in the UK press the last month.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-37379520144482164412009-03-14T11:35:00.000-07:002009-03-14T11:35:00.000-07:00Germany may pull out of the EuroThat's backward, t...<I>Germany may pull out of the Euro</I><BR/><BR/>That's backward, the Euro is essentially the German mark made generic. Germany would pull out of the Euro only if the ECB abandoned its mandated goal of controlling inflation.<BR/><BR/>Also no way will the French leave. What is far more likely is one of the weak sisters- Club Med or Ireland - leaving.patriotzhttps://www.blogger.com/profile/11154064267408955762noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-89211084362506307762009-03-14T10:53:00.000-07:002009-03-14T10:53:00.000-07:00"From that article: "the 46-year-old fisherman has..."From that article: "the 46-year-old fisherman has landed in a foreclosure proceeding"<BR/><BR/>You really don't have to read any further, he's a commercial fisherman."<BR/><BR/><BR/>I would not write this article off in the slightest. Simple bull spin.<BR/>I know 2 people in the exact same situation except they are professionals and can keep paying the bill as long as their jobs hold out and one of them is on shaky ground. <BR/><BR/>Imagine buying a place in the 80's and you have a mortgage 4 times what you paid 25 years earlier with not even any decent toys to show for it either. It's not as uncommon as you think.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-84596968720193702612009-03-14T10:38:00.001-07:002009-03-14T10:38:00.001-07:00"I'm not so sure the US dollar will crash any time..."I'm not so sure the US dollar will crash any time soon. As bad as it seems, it looks like the rest of the world may be worse off. Just look at Iceland, Greece, Ireland etc. They are more than happy to trade their currencies for US $'s."<BR/><BR/><BR/><BR/>Agreed, the US buck will be the only source of safety as they were the first to deal with the problem. Europe is going to be a mess as they drag their ass trying to agree on what to do. Germany may pull out of the Euro and Italy is bankrupt. All these people calling for the demise of paper currency need a shrink.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-6106605307217004732009-03-14T10:38:00.000-07:002009-03-14T10:38:00.000-07:00From the times Colonist Business SectionMLS sales ...From the times Colonist Business Section<BR/><BR/><A HREF="http://www.timescolonist.com/Business/sales+down/1390020/story.html" REL="nofollow">MLS sales down 47%</A>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-7727898001455229762009-03-14T10:31:00.001-07:002009-03-14T10:31:00.001-07:00Carla does some investigative journalism.Region jo...Carla does some investigative journalism.<BR/><BR/><A HREF="http://www.timescolonist.com/business/fp/Region+jobless+rate+hits/1390009/story.html" REL="nofollow">Region jobless rate hits 4.7%</A><BR/><BR/>Jobseekers come up empty-handed as construction work vanishesAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-22592716377126857522009-03-14T10:31:00.000-07:002009-03-14T10:31:00.000-07:00"You said there are deals out there. You said peop..."You said there are deals out there. You said people are making out like bandits. I ask you to show me where. "<BR/><BR/><BR/>I'd like to see these deals too. A Porche for $21,000 ? wow,impress me. Maybe it's a POS thats been patched up from an ICBC claim or a drug dealers repossesion. Deals aren't always what they seem. <BR/><BR/> The real estate sales are still over inflated above average affordability levels and the below assessment sales would not be "below" if they didn't freeze them. Show me the real deals not some hot car that may have had the piss driven out of it.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-75456343571066049612009-03-13T23:15:00.000-07:002009-03-13T23:15:00.000-07:00From that article: "the 46-year-old fisherman has ...From that article: "the 46-year-old fisherman has landed in a foreclosure proceeding"<BR/><BR/>You really don't have to read any further, he's a commercial fisherman.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-50454928849398447942009-03-13T22:15:00.000-07:002009-03-13T22:15:00.000-07:00Canada - Yea we're different.Canada's dirty subpri...Canada - Yea we're different.<BR/><BR/><A HREF="http://business.theglobeandmail.com/servlet/story/RTGAM.20090313.wsubprime14/BNStory/Business/home" REL="nofollow">Canada's dirty subprime secret</A>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-82343794347104600922009-03-13T18:04:00.000-07:002009-03-13T18:04:00.000-07:00Don't forget this economy has been over-performing...Don't forget this economy has been over-performing for 5 years. At 4.5%, unemployment does not even begin to address the over-employment problem that we have.<BR/><BR/>Healthy structural and cyclical unemployment, allowing for people moving, those between jobs etc, is about 6% (from memory.) The contracting economy will overshoot itself just as the expansion did, so we could very well see 10% within a year or two. This does not spell disaster, and is actually required to correct to a healthy economy. Increasing unemployment is actually good for our long-term economic health.<BR/><BR/>These times will see companies that are performing well succeed as they ride past their poorly performing competion. We may actually see more "Made in Canada" in our future.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-18522610832429304452009-03-13T17:58:00.000-07:002009-03-13T17:58:00.000-07:00Just Janice,The unemployment trend in Victoria is ...Just Janice,<BR/><BR/>The unemployment trend in Victoria is as follows (table 5.1 of the Stats. Canada labour force survey):<BR/>December 3.7%<BR/>January: 4.0%<BR/>February: 4.7%<BR/><BR/>As the February estimate is a 3 month rolling average, the real February unemployment here is around 5.5%, a huge increase over January (Table 8 of the survey gives a separate estimate).<BR/><BR/>Month over month, there is probably a 15-20% increase in unemployment here. <BR/><BR/>Now that we are one month after the survey date, we are probably above 6% unemployment in Victoria. This is, of course, getting hidden by the media who are reporting 4.7%(and saying that things are still fine).Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-4017982187659268072009-03-13T16:35:00.000-07:002009-03-13T16:35:00.000-07:00The actual #s have been released before. In const...The actual #s have been released before. In construction we have 10% of the work force alone and from living a recession in construction it will be much higher than 50% for losses. This isn't including the many spin off jobs. Projections are for 10% reported unemployment (only IE eligable) this year, but people leave here when unemployed and don't come here looking for work so how the #s will look here is unknown. I believe this is why we were singled out to do really badly by the IMF.<BR/><BR/>There sure aren't any oak bay crazed retirees looking at houses this year.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-9854886342955845992009-03-13T16:20:00.000-07:002009-03-13T16:20:00.000-07:00To assess the potential impact on Victoria, examin...To assess the potential impact on Victoria, examine the components of the Victoria economy and examine the relative risk of contraction in each of those components.<BR/><BR/>Construction - how big of a contributor? How many further jobs are created by those working in construction? What is likely to happen? (My guess about 8% of employment in Victoria is construction or construction related, I would anticipate a 50-75% hit).<BR/><BR/>Tourism - how big of a contributor? My guess would be that the contribution is similar or larger than construction. Seeing as the rest of the world is being hit at the same time as us, I would anticipate a 35% to 50% hit here.<BR/><BR/>Education - an area that might actually gain at the post-secondary level in a downturn as those who end up unemployed seek retraining. But the spin-off jobs probably aren't as big as in other areas - students tend to be pretty thrifty.<BR/><BR/>Government - a big component in Victoria, especially when considering all the spin off jobs it creates. This is a big maybe - it depends whether or not Mr. Campbell sees himself more as a conservative at all costs (minimizing deficits as much as possible) or as a Keynesion (step up to the plate by replacing private sector demand for public sector demand). My gut tells me that NDP will be good for the government sector, Liberal will mean a government sector contraction. Probably on a scale of 10-15%. My gut is that we aren't about to switch governing parties at this time. This is going to hurt Victoria, big time in many ways...<BR/><BR/>Healthcare - probably a growth industry given Victoria's demographics.<BR/><BR/>Legal - again probably relatively immune...<BR/><BR/>Retirees- their investments have been decimated, they might find themselves being a lot more thrifty than they have been historically.<BR/><BR/>Overall - I think Victoria unemployment will hit 8% before the year is done.<BR/><BR/>I think the predicted contraction is a little on the low side, given the larger economic picture. I would anticipate a BC economy contraction of about 5-6% in 2009...Just Janicehttps://www.blogger.com/profile/06002680972898096266noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-84242273414321340112009-03-13T16:15:00.000-07:002009-03-13T16:15:00.000-07:00This may shed some light considering the discussio...This may shed some light considering the discussion of late: <A HREF="http://www.guardian.co.uk/business/dan-roberts-on-business-blog/interactive/2009/jan/29/financial-pyramid" REL="nofollow">money system explained.</A>Anonymousnoreply@blogger.com