Wow! From all accounts the Vancouver 2010 Winter Games were a huge success.
For those few weeks it united this country, and words cannot describe the feeling of watching that Gold medal game!!
Businesses that catered to the thousands of athletes, visitors and fans especially in downtown Vancouver and Whistler had a $$ fantastic month.
Sports bars across the country also benefitted.
Unfortunately there were thousands of main stream businesses in the Vancouver's lower mainland that suffered.Almost all construction stopped in February.
When business slows down, it takes weeks or months to build that business back up.
That business has not returned yet. From construction to electronics, people are not spending money.
So from a business/revenue point of view, was the games a huge financial success for BC and Vancouver? The great debate of the debt is something else.
We will have to wait until the summer to tally the haul.
I for one sure hope business returns to normal.
Thank you for all your calls and emails.
Sunday, March 28, 2010
Thursday, January 21, 2010
Cheap money has created another bubble
Lenders seize Intrawest assets including Whistler resort.
Finally the Credit crunch is hitting home.Intrawest was bought for $ 2.6 billion mostly on borrowed money, as the credit markets dried up they were faced with mounting debt, unable to borrow more and unable to make the payments.Despite selling off chunks of its assets ( Nortel did the same) it still faced the same fate.
With the media focused on Vancouver the very place that the games are being held is in foreclosure and the sales will be taking place during the games.
What story does Vancouver have for the world now?
Yes history will repeat itself. US then to Ontario/Quebec then west to BC/Alberta.
A drive down any busy street in Vancouver's lower mainland you will encounter a business closing and for lease signs on almost every block.
Are we there yet? With BC/Alberta Real Estate We are very close.
In China, when speculators are buying empty buildings in ghost cities in the hope that the property boom will continue I know we are really close. well.http://wallstcheatsheet.com/breaking-news/economy/ghost-towns-in-china-prove-gdp-is-a-farce/?p=3702/
In the US jobless claims last week were 482,000!! And the economy is back on track??
Cycles. Trust the cycles. Numbers can be turned around to sell any story.
Cheap money has created another bubble over the last 12 months.
Finally the Credit crunch is hitting home.Intrawest was bought for $ 2.6 billion mostly on borrowed money, as the credit markets dried up they were faced with mounting debt, unable to borrow more and unable to make the payments.Despite selling off chunks of its assets ( Nortel did the same) it still faced the same fate.
With the media focused on Vancouver the very place that the games are being held is in foreclosure and the sales will be taking place during the games.
What story does Vancouver have for the world now?
Yes history will repeat itself. US then to Ontario/Quebec then west to BC/Alberta.
A drive down any busy street in Vancouver's lower mainland you will encounter a business closing and for lease signs on almost every block.
Are we there yet? With BC/Alberta Real Estate We are very close.
In China, when speculators are buying empty buildings in ghost cities in the hope that the property boom will continue I know we are really close. well.http://wallstcheatsheet.com/breaking-news/economy/ghost-towns-in-china-prove-gdp-is-a-farce/?p=3702/
In the US jobless claims last week were 482,000!! And the economy is back on track??
Cycles. Trust the cycles. Numbers can be turned around to sell any story.
Cheap money has created another bubble over the last 12 months.
Thursday, January 14, 2010
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Bonaventure
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Wednesday, January 13, 2010
Happy New Year
Happy New Year and all the best for a fantastic 2010.
If you would like to drop me a line you can email me at : arewethereyetbd@hotmail.com
or call me at 778-835-3659.
Watch for my next post on BC Real estate. Yes we did see a jump in our assessment for 2010, but that was following a drop in 2009. Expect more declines as business activity slow following the games.
Thanks for all your support.
Bonaventure D'sa
If you would like to drop me a line you can email me at : arewethereyetbd@hotmail.com
or call me at 778-835-3659.
Watch for my next post on BC Real estate. Yes we did see a jump in our assessment for 2010, but that was following a drop in 2009. Expect more declines as business activity slow following the games.
Thanks for all your support.
Bonaventure D'sa
Thursday, June 26, 2008
Oil and Housing
Expectations for Oil in the next 6 months. -
http://finance.yahoo.com/tech-ticker/article/30380/Oil-Bubble-Set-to-Pop-Crude-to-Fall-25-Percent-in-6-Months-Says-Invesco's-Garnick?tickers=OIL,USO,DUG,GLD,XLE
Housing : Active listings going through the roof. Buyers market ? or is it?
Patient buyers will be rewarded as the markets decline over the next 6 - 7 years.
http://realtylink.org/statistics/buyers_market_listed_main.cfm
Bonaventure
http://finance.yahoo.com/tech-ticker/article/30380/Oil-Bubble-Set-to-Pop-Crude-to-Fall-25-Percent-in-6-Months-Says-Invesco's-Garnick?tickers=OIL,USO,DUG,GLD,XLE
Housing : Active listings going through the roof. Buyers market ? or is it?
Patient buyers will be rewarded as the markets decline over the next 6 - 7 years.
http://realtylink.org/statistics/buyers_market_listed_main.cfm
Bonaventure
Sunday, May 25, 2008
Commodities - What's really driving prices up?
New Investment vehicles, ETFs, Hedge Funds etc are driving prices beyond normal supply demand economics. The money being diverted in to commodities have increased more in aggregrate over the last five years than at any other time in U.S. History.
Some ETFs use Futures contracts others will take physical posession, both drive prices higher.
Manufactors have to compete with ETFs that are taking millions of tons of valuable metals and minerals off the world markets.
India's demand for fertilizer has grown by 10% a year, but prices have risen 150 to 300% in the last year alone.
"Chinese demand for Oil has increased by 920 Million barrels over the last 5 years, demand from Speculators has risen by 848 Million barrels over the same period. " according to Mr Michael Masters portfolio manager for Masters Capital Management LLC.
"Institutional investors have moved into commodities as a way to protect themselves against volatility in interest rates and the stock market."
Royal Dutch Shell, OPEC and others have been telling us that there is no shortage and don't intend to increase production.
Use of Futures contracts are driving Oil higher and higher, up 19% this month alone.
Happened to the Tech bubble. Tech Managers were being hailed as Investment Gurus.
By mid 2000 Nortel was in almost every Mutual Fund ( even Dividend Funds) chasing higher returns.
Nortel topped out at $ 120 and by August 2000 Fund Managers were taking profits, that left the small retail investor jumping in to buy Nortel at "bargin prices" of $ 90 to $ 100.
As we now know Nortel has lost 99% of its value over the last 8 Years.
This high stakes poker game being playing on the World Stage with billions and billions of $$$ has to be a concern. All we can do is watch from the side lines ( hurts our wallets in the mean time) and wait for the final chips to fall. Are we there yet? When Dividend Funds are adding Resource Stocks to their portfolios I know we are getting close.
Some ETFs use Futures contracts others will take physical posession, both drive prices higher.
Manufactors have to compete with ETFs that are taking millions of tons of valuable metals and minerals off the world markets.
India's demand for fertilizer has grown by 10% a year, but prices have risen 150 to 300% in the last year alone.
"Chinese demand for Oil has increased by 920 Million barrels over the last 5 years, demand from Speculators has risen by 848 Million barrels over the same period. " according to Mr Michael Masters portfolio manager for Masters Capital Management LLC.
"Institutional investors have moved into commodities as a way to protect themselves against volatility in interest rates and the stock market."
Royal Dutch Shell, OPEC and others have been telling us that there is no shortage and don't intend to increase production.
Use of Futures contracts are driving Oil higher and higher, up 19% this month alone.
Happened to the Tech bubble. Tech Managers were being hailed as Investment Gurus.
By mid 2000 Nortel was in almost every Mutual Fund ( even Dividend Funds) chasing higher returns.
Nortel topped out at $ 120 and by August 2000 Fund Managers were taking profits, that left the small retail investor jumping in to buy Nortel at "bargin prices" of $ 90 to $ 100.
As we now know Nortel has lost 99% of its value over the last 8 Years.
This high stakes poker game being playing on the World Stage with billions and billions of $$$ has to be a concern. All we can do is watch from the side lines ( hurts our wallets in the mean time) and wait for the final chips to fall. Are we there yet? When Dividend Funds are adding Resource Stocks to their portfolios I know we are getting close.
Tuesday, April 22, 2008
Interest Rates and Housing always head in the same direction
April 22, 2008
Another rate cut and deeper in red. Boom and here comes the bust.
Is the history of boom bust cycles going to repeat itself?
We are seeing this play out in the US, just a matter of time before it moves North.
The Bank of Canada warned of a deepening economic slowdown as it cut its key interest rate by 50 bps.
Since December 4, 2007 the Bank of Canada has been aggressive in cutting rates by 150bps.
Canada's slowing economy is driving interest rates and housing lower.
US, Ontario/Quebec then out west to BC/Alberta. That's the cycle.
Housing, usually a 25 - 30% drop, but after the party in Alberta their drop maybe as bad as it gets in the states.
Bonaventure D'sa
http://beallthatyoucanbebd.blogspot.com/ The Amazing Secrets to achieving your Goals !
http://seniorshelpguide.blogspot.com/
November 29, 2007
Quick question!
When Interest Rates are rising, are House prices rising or falling? Interest Rates UP, House Prices? --- Up or Down?
If you said, when Interest Rates are rising, House Prices are/will Fall, then think again….
In reality, When Interest Rates are rising - House Prices are climbing, and when Interest Rates are falling - House Prices are dropping.
Has more to do with the health of the economy than the mortgage rate.
When the economy is healthy, things are good, people are working,inflation is rising,House Prices are rising, Interest rates will rise to slow down the economy.
When the economy is loosing steam, jobs are lost, House Prices are falling, Interest Rates will decline.
I won't get into the full discussion of the why, only the facts.
For the last few years the US housing market was on a tear, yet they experienced 17 rate hikes up to June 29, 2006.
Since then the bubble has bust and guess what, we are seeing Interest Rate cuts, and no one is expecting House Prices in the US to run up anytime soon.
In Canada, we have seen 9 rate hikes in a row, rates rose from a low of 3.75%, January 15, 2002 to the current rate of 6.25% July 10, 2007, the Housing market has experienced a similar move.
Interest rates in Canada have risen 66% over the last 5 years and Real Estate has doubled.
The last Real Estate bust saw Interest rates drop from 13.50% in 1989 to 7.25% in 2000.
Real Estate bottomed in 1999 out East and 2000 in BC.
Going further back, to the Real Estate bubble of the late 70s early 80s.
Interest rates rose from a "lowly" 9.25% in 1978 to a high of 18.25% in 1982.
Rates doubled and so did the Housing Market. Subsequently the housing bubble bust and so did Interest Rates.
History is a great educator, and every time we say its different this time, History repeats itself.
Next stop, almost everyone agrees are more rate cuts.
If we get a rate cut on December 4th - this will send a strong signal as to the direction of the Canadian Housing market.
The housing market going up or down starts in the US, next is Ontario/Quebec, then West to BC/Alberta. Happens everytime, and this time is no different.
Have a great day.
Another rate cut and deeper in red. Boom and here comes the bust.
Is the history of boom bust cycles going to repeat itself?
We are seeing this play out in the US, just a matter of time before it moves North.
The Bank of Canada warned of a deepening economic slowdown as it cut its key interest rate by 50 bps.
Since December 4, 2007 the Bank of Canada has been aggressive in cutting rates by 150bps.
Canada's slowing economy is driving interest rates and housing lower.
US, Ontario/Quebec then out west to BC/Alberta. That's the cycle.
Housing, usually a 25 - 30% drop, but after the party in Alberta their drop maybe as bad as it gets in the states.
Bonaventure D'sa
http://beallthatyoucanbebd.blogspot.com/ The Amazing Secrets to achieving your Goals !
http://seniorshelpguide.blogspot.com/
November 29, 2007
Quick question!
When Interest Rates are rising, are House prices rising or falling? Interest Rates UP, House Prices? --- Up or Down?
If you said, when Interest Rates are rising, House Prices are/will Fall, then think again….
In reality, When Interest Rates are rising - House Prices are climbing, and when Interest Rates are falling - House Prices are dropping.
Has more to do with the health of the economy than the mortgage rate.
When the economy is healthy, things are good, people are working,inflation is rising,House Prices are rising, Interest rates will rise to slow down the economy.
When the economy is loosing steam, jobs are lost, House Prices are falling, Interest Rates will decline.
I won't get into the full discussion of the why, only the facts.
For the last few years the US housing market was on a tear, yet they experienced 17 rate hikes up to June 29, 2006.
Since then the bubble has bust and guess what, we are seeing Interest Rate cuts, and no one is expecting House Prices in the US to run up anytime soon.
In Canada, we have seen 9 rate hikes in a row, rates rose from a low of 3.75%, January 15, 2002 to the current rate of 6.25% July 10, 2007, the Housing market has experienced a similar move.
Interest rates in Canada have risen 66% over the last 5 years and Real Estate has doubled.
The last Real Estate bust saw Interest rates drop from 13.50% in 1989 to 7.25% in 2000.
Real Estate bottomed in 1999 out East and 2000 in BC.
Going further back, to the Real Estate bubble of the late 70s early 80s.
Interest rates rose from a "lowly" 9.25% in 1978 to a high of 18.25% in 1982.
Rates doubled and so did the Housing Market. Subsequently the housing bubble bust and so did Interest Rates.
History is a great educator, and every time we say its different this time, History repeats itself.
Next stop, almost everyone agrees are more rate cuts.
If we get a rate cut on December 4th - this will send a strong signal as to the direction of the Canadian Housing market.
The housing market going up or down starts in the US, next is Ontario/Quebec, then West to BC/Alberta. Happens everytime, and this time is no different.
Have a great day.
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