tag:blogger.com,1999:blog-7123542260692860177.post7679561454930817525..comments2023-12-02T00:38:46.467-08:00Comments on House Hunt Victoria: The single income household in Victoria is officially deadHouseHuntVictoriahttp://www.blogger.com/profile/07456914359088891317noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-7123542260692860177.post-24711562243429708032007-09-26T10:52:00.000-07:002007-09-26T10:52:00.000-07:00Wealth tax?I don't give Dodge a lot of credit for ...Wealth tax?<BR/><BR/>I don't give Dodge a lot of credit for acknowledging they kept rates too low for too long. That's just spin. It takes a lot more guts to rain on the parade while it's still going on than to talk about what he should have done after the fact. And note that he's not even turning the sprinklers one now, when the parade is winding down.Ryanhttps://www.blogger.com/profile/10104704096049638272noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-33769233617702602262007-09-26T06:39:00.000-07:002007-09-26T06:39:00.000-07:00Our wealth tax kicks in at 80K, In the US I think...Our wealth tax kicks in at 80K, In the US I think it is 250K (I am not sure but very high).<BR/><BR/>So... Canadians don't have any money but we have some of the highest RE markets in North America i.e. Vancouver, Victoria.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-3303817177004943832007-09-25T19:24:00.000-07:002007-09-25T19:24:00.000-07:00Dodge has a big financial report out on October 18...Dodge has a big financial report out on October 18th that will detail all his projections into next year on interest rates etc. Should be interesting since we know his plan is to contain inflation though he will be gone in the new year.<BR/><BR/> Interesting to see the segment on all the RE buyers scooping up the cheap lots in Birch Bay across the water from us in Washington State. Ocean view lots for half the price of White Rock. Now if they are buying vacation property there then that is many lots not sold up here. The White Rock RE agent tried to put up a good front with the ole " we got the Olympics coming" line....how weak.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-41724847598611997692007-09-25T18:28:00.000-07:002007-09-25T18:28:00.000-07:00"Savings rates are at very low levels; inflation h...<I>"<BR/>Savings rates are at very low levels; inflation has only been avoided through access to cheap Asian imports; and families are mortgaged to the hilt."</I><BR/><BR/>Roger do you really think inflation is as low as reported? I know I can buy a computer and clothes cheaper... but my car costs the same if not more, my food is way more expensive, as is housing, gas and property taxes.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-47707552715539476002007-09-25T18:00:00.000-07:002007-09-25T18:00:00.000-07:00VGI think Dodge is one of the few bankers that rec...<B>VG</B><BR/><BR/>I think Dodge is one of the few bankers that recognize that keeping interest rates this low for so long is going to have dire consequences. Canada and the US will start paying the price in the coming months. <BR/><BR/>Savings rates are at very low levels; inflation has only been avoided through access to cheap Asian imports; and families are mortgaged to the hilt. <BR/><BR/>Maintaining the current bank rate is probably the best course for now but inflation could rear its ugly head very quickly. Raising interest rates could tip the economy into recession and lowering rates will greatly increase inflationary pressure. Not very palatable choices.<BR/><BR/>The government has been warning manufacturers to increase productivity for years and to not keep relying on a devalued currency to generate exports. Our productivity per worker is lower than the US and now with the dollar at par this sector of the economy is in trouble.<BR/><BR/>There are no simple answers but at least we are insulated from these economic issues on Vancouver Island for all the reasons we have discussed in earlier posts.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-39367664527727979802007-09-25T17:24:00.000-07:002007-09-25T17:24:00.000-07:00Central banks kept rates too low: DodgeOttawa — Th...Central banks kept rates too low: Dodge<BR/><BR/><BR/>Ottawa — The world's central bankers failed to realize the magnitude of the easy money made available over the past few years through sophisticated loans and derivatives, Bank of Canada Governor David Dodge says.<BR/><BR/>As a result, central banks kept interest rates too low, he said in a speech that dissected the ongoing global credit crunch.<BR/><BR/><BR/><BR/><BR/>http://tinyurl.com/ynupfw<BR/><BR/><BR/>Hmm,so maybe they added about the last 20-30% hike on to the average house price buy screwing up ? We all knew this was getting stupid 2 years back,now this is setting up for a faster drop once the word gets out the market is cooling and things are still a long way from being all rosy in subprime land.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-82120222924991566312007-09-25T12:17:00.000-07:002007-09-25T12:17:00.000-07:00What it probably means for us is that interest rat...What it probably means for us is that interest rates stay the same or get lowered. The BoC doesn't care about BC real estate, but they care a whole lot about the Ontario economy.Ryanhttps://www.blogger.com/profile/10104704096049638272noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-61081750084530382232007-09-25T10:12:00.000-07:002007-09-25T10:12:00.000-07:00Thousands laid off by GM Ontario. If, according to...Thousands laid off by GM Ontario. If, according to Buzz Hargrove, 80k to 100k jobs could be affected, that's a serious scenario for RE!<BR/>http://www.wheels.ca/article/31723Anonymousnoreply@blogger.com