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etalian posted:Remember all those dumb articles after the oil crashing saying things would get better for Alberta in 2016: Alberta is so screwed its unbelievable. They were banking on $60 oil last year and $80 for this years budget.
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Jan 18, 2016 17:00
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jm20 posted:Alberta is so screwed its unbelievable. They were banking on $60 oil last year and $80 for this years budget. Even the pdf studies says all the Albertan job growth in 2017 is based on the assumption that the price of oil will start dramatically recover. The reports oil could recover to the $40-$50 range by the end of 2016.
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Jan 18, 2016 18:30
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Man. I'm so happy I sold my house in Airdrie last summer. Come June, I can hardly wait to start apartment shopping again the rental market crashes and I can save even more money. I'm wondering how bad the financial shape all the new office towers in the Calgary core are in. I can't imagine they all paid up front for the ridiculous construction prices when this City was booming.
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Jan 18, 2016 23:02
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It's so cringeworthy to read article after article making statement such as the price of oil must dramatically improve by 2016/2017. If anything commodities are even more volatile than the stock market and there's more negative issues in play right now such as Iran finally coming out of the cold.
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Jan 18, 2016 23:35
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Liberal fall economic update from Nov 20th. http://www.budget.gc.ca/efp-peb/2015/pub/chap02-en.html#a4  
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Jan 18, 2016 23:52
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Jumpingmanjim posted:https://www.cryptocoinsnews.com/philadelphia-gets-first-bitcoin-condo-offerings/ Ahahaha I live in Philly and Manayunk sucks. You can buy an apartment for $400k here in a nice neighbourhood that's close to downtown. Seriously, real estate here is absurdly cheap compared to Vancouver or Toronto.
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Jan 19, 2016 00:20
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That's funny since bitcoin has apparently failed: https://medium.com/@octskyward/the-resolution-of-the-bitcoin-experiment-dabb30201f7#.tjq2ggjxg quote:The issue is that it’s now officially impossible to depend upon the bitcoin network anymore to know when or if your payment will be transacted, because the congestion is so bad that even minor spikes in volume create dramatic changes in network conditions. To whom is it acceptable that one could wait either 60 minutes or 14 hours, chosen at random? That's gonna make these condo developers furious.
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Jan 19, 2016 01:09
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Looks the announcement that Iran would be ramping up production by 500k barrels per day kicked the price per barrel down to $28.
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Jan 19, 2016 01:30
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Need to cut our way to prosperity; harder.
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Jan 19, 2016 02:00
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etalian posted:Looks the announcement that Iran would be ramping up production by 500k barrels per day kicked the price per barrel down to $28. God dammit Notley. Is there no end to your incompetence?
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Jan 19, 2016 02:20
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Saudi Arabia is panicking too: http://www.reuters.com/article/us-iran-nuclear-sanctions-saudi-idUSKCN0UW1FJ Probably the main real reason why Saudi Arabia was pro sanctions is it kept a rival's main export out of international markets. Supposedly Iran can also produce oil at a fairly low production price point similar to Saudi Arabia due to the geology of the fields.
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Jan 19, 2016 02:28
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Ccs posted:That's funny since bitcoin has apparently failed: drat, now I.need to read the bitcoin tread again to know about how badly they are freaking out.
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Jan 19, 2016 03:39
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sbaldrick posted:drat, now I.need to read the bitcoin tread again to know about how badly they are freaking out. Another problem you can blame on China in addition to inflating housing prices.
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Jan 19, 2016 03:48
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So we have no idea how much foreign investment is effecting the BC housing industry but we can exactly pinpoint how much taxing them will hurt our precious real-estate. "Curbing foreign investment in B.C. real estate could cost $1B, says ministry document" http://www.cbc.ca/news/canada/british-columbia/bc-real-estate-tax-housing-prices-1.3409587 Also weed is stupid, gently caress vancouver.
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Jan 19, 2016 04:26
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The stupid fucks don't want to even measure what's going on in the housing bubble
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Jan 19, 2016 04:35
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quote:http://www.cbc.ca/news/canada/calgary/alberta-construction-jobs-buildforce-labour-forecast-1.3408954?cmp=rss The Alberta construction industry is forecasting an industry wide recession until 2020.
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Jan 19, 2016 19:48
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jm20 posted:The Alberta construction industry is forecasting an industry wide recession until 2020. Makes sense. That's when we can get all these socialists out of office and then raise the price of oil again.
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Jan 19, 2016 19:57
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I'm starting to think there might be a bubble.quote:The indebtedness of Canadian households continues to trend higher. In the third quarter of 2015, total household debt (i.e., credit market debt plus trade payables) reached 171 per cent of disposable income. In other words, for every $100 of disposable income, households had debt obligations of $171. This is the highest level recorded since 1990.   quote:To project the average effective interest rate on debt over the medium term (for both mortgage and non-mortgage debt), PBO uses a regression-based model. It links the effective interest rates to short- and long-term interest rates, that is, the Bank of Canada’s target for the overnight rate and the Government of Canada 10-year benchmark bond rate.
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Jan 19, 2016 20:43
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jm20 posted:The Alberta construction industry is forecasting an industry wide recession until 2020. A vibrant holes and houses economy.
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Jan 20, 2016 00:35
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jm20 posted:The Alberta construction industry is forecasting an industry wide recession until 2020. Sure, the economy of Alberta will be collapsing for the next four years, and by 2025 it still won't have fully recovered, but... poo poo, I can't even think of an imaginary delusional upside.
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Jan 20, 2016 01:09
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The upside is Albertans will be trapped there by their mortgages.
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Jan 20, 2016 01:11
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Mantle posted:The upside is Albertans will be trapped there by their mortgages. In fort mac, they'll just stop paying rent and go back to BC or ontario. Their landlord is going to be stuck in like 6 mortgages though, and that was his retirement!
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Jan 20, 2016 01:29
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Yeah I've read a lot of CBC articles about how workers are going to pay their rent and I'm thinking... they won't? They'll just disappear back home?
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Jan 20, 2016 01:32
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Two rich people can't afford to build a custom home for their 5 kids and live-in nanny, what has canada come to??? http://www.theglobeandmail.com/glob...rticle22496585/ \/ Thought it was familiar, read the date wrong. Baronjutter fucked around with this message at 01:56 on Jan 20, 2016 |
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Jan 20, 2016 01:47
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There was a big outrage about that when the article came out a year ago, not just here I remember people on Facebook laughing at them e: did they stop doing the sad/worried looking family illustrations? those are the best large hands fucked around with this message at 02:18 on Jan 20, 2016 |
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Jan 20, 2016 01:54
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Powershift posted:Their landlord is going to be stuck in like 6 mortgages though, and that was his retirement! Stay liquid, buy him out, become the next Fort Mac slumlord when the commodity supercycle is at its next peak 
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Jan 20, 2016 02:56
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large hands posted:There was a big outrage about that when the article came out a year ago, not just here I remember people on Facebook laughing at them Where is CI and his Death by Guillotine gif when you need it.
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Jan 20, 2016 06:17
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Furnaceface posted:Where is CI and his Death by Guillotine gif when you need it. Probated by a mod with personal grudges and an axe to grind.
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Jan 20, 2016 06:45
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Mantle posted:The upside is Albertans will be trapped there by their mortgages. Isn't AB one of two provinces that allow you to walk away from your mortgage American style? SK being the other? http://business.financialpost.com/p...-but-should-you
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Jan 20, 2016 07:06
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Reverse Centaur posted:Isn't AB one of two provinces that allow you to walk away from your mortgage American style? SK being the other? And they've done it before? Watch Alberta bring the entire loving country to its knees.
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Jan 20, 2016 07:10
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Rime posted:Probated by a mod with personal grudges and an axe to grind. I'm pretty sure getting probated for using transphobic slurs is just posting 101, not "personal grudges." GBS is up there.
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Jan 20, 2016 07:32
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Rime posted:And they've done it before? The catch you can only walk away from the mortgage if the loan wasn't backed by the CMHC
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Jan 20, 2016 07:38
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Arivia posted:I'm pretty sure getting probated for using transphobic slurs is just posting 101, not "personal grudges." GBS is up there. Hmmmm. Ah... I see.
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Jan 20, 2016 08:36
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The Lord of Hats posted:Sure, the economy of Alberta will be collapsing for the next four years, and by 2025 it still won't have fully recovered, but... The upside is that the NDP will take all the blame and never get elected again.
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Jan 20, 2016 14:08
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It's okay guys the Bank of America says Canada is #1 in the world for "soundness of banks" so really, we're fine.
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Jan 20, 2016 16:22
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No interest rate cut from BoC. The dollar is already hammered and with oil declining further this year at least this seems like the right decision.
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Jan 20, 2016 16:29
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Holy poo poo didn't expect that call. Good on em.
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Jan 20, 2016 17:09
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Market is cratering
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Jan 20, 2016 19:07
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jm20 posted:Market is cratering Blame
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Jan 20, 2016 19:15
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Not nearly enough people are talking about this time bombquote:B.C. strata councils in ‘critical’ funding state Owners get sticker shock at any sort of fee increases and will vote everything down unless it’s a sub 3% increase. Developers are complicit in setting the initial fees way too low to make it easier to sell the units. Owners have over extended themselves so much that they need to have super low monthly fees. It’s a bit of a scam in that early flippers will do all they can to keep fees low, then get out before the poo poo hits the fan. The BC government needs to step in and regulate the amount of contingency funds that must be kept. Simply requiring a depreciation report to be made isn’t enough, because buildings get a depreciation report, then put it on the shelf and ignore it because it’s politically impossible to follow the report guidelines by increasing monthly fees.
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Jan 20, 2016 19:17
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