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
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