1026 replies to this topic

[LJ]

The Chinese banned their major shareholders from selling their stock for six months last July. This was supposed to let the market solidify and investors gain confidence in it. It didn't work, now all the major shareholders are divesting as fast as they can. There will be bottom feeders come out of the woodwork and buy up these stocks at bargain prices and the market will stabilize again, and start working it's way back up.

[Mike K.]

That's if the Chinese government doesn't simply assume the wealth of anyone trying to stir the pot. Fortunes have been siezed by the Chinese government in the past and that fear permeates among the country's wealthier citizens. Getting as much money out of China as fast as possible will be priority #1 for all Chinese with any meaningful assets, which means the government may ban foreign investment, which means this could have severe near-term consequences for markets like Vancouver. Am I out on a limb here?

[LJ]

The rich will find a way to move their money to safer locales if it is required.

[Mike K.]

So we might see a mass exodus of wealth over the next month or two? Won't the Chinese fed want to prevent that?

[LJ]

I think you will see a quiet exodus in the near future.

[Bingo]

I think you will see a quiet exodus in the near future.

 

Right.  If you happen to be over there, don't walk under any tall financial buildings.

[29er Radio]

Charlie Rose had a great panel discussion regarding the recent situation in China which may shed some light for all of us. http://www.charliero.../watch/60670705  

[spanky123]

So we might see a mass exodus of wealth over the next month or two? Won't the Chinese fed want to prevent that?

 

Honestly I think the money that was leaving has already left. To support housing in Vancouver and Toronto you need a continued supply of money and that is what led to my comment about those markets being at risk.

[timw11]

Take a company like TC-Helicon. It sells it's products in USD, but pays rent, salaries etc in CAN dollars. It's a good thing for them. They aren't losing employees to US firms because their people are paid well enough and want to live in the shire. If they move to the US the exchange means nothing because their bills are in USD then so I don't get that argument.... What about the game and app dev firms whjo have US customers or Meta Labs who owns pixel union the number one Tumbler theme maker. They sell their themes in USD... etc etc....

 

Just MetaLab, thanks :-) 

 

[dasmo]

Just MetaLab, thanks :-)

Sorry bout that... MetaLab it is.

[VicHockeyFan]

I'm not really sure where this belongs, but I'm not sure anyone posted it here:

 

Vancouver's boom spurs Victoria commercial renaissance

Victoria’s Upper Fort Street is going through a commercial renaissance that local businesspeople and real estate experts say is linked to the skyrocketing cost of commercial and residential real estate in Metro Vancouver.

Located on the edge of Victoria’s downtown core, upper Fort Street had long been associated more with antique auction houses and dealers than with interesting places to eat and shop. But that’s now changing, said Suzanne Bradbury, the co-owner of Fort Properties and co-chair of the Fort Street Business District.

 

http://vancouversun....ial-renaissance

[Bingo]

BOOM!

The Independent Contractors and Businesses Association is launching a social media campaign to attract construction workers for major projects on Vancouver Island.

Workers are being asked to submit resumés to the association’s website at www.icba.ca

- See more at: http://www.timescolo...h.OeCs1AyE.dpuf

 

 

[Bingo]

Meanwhile, $191,000 in provincial funding is going to the B.C. Funeral Association to train 63 people in the funeral and embalmer sector.

- See more at: http://www.timescolo...h.OeCs1AyE.dpuf

 

[LJ]

^People are dying to get into that trade. 

[sebberry]

It's a dead-end job with a future!

[Bingo]

But you get to do all the work while everyone else just lays around.

[SimonH]

Where will it be based ? the dead centre of town ?

[North Shore]

Post Antiques Row?

[Mike K.]

Victoria's majestic beauty and mild winters have drawn plenty of affluent residents from across Canada and the world, but now, thanks to high-rising real-estate prices, average Victorians are considered some of Canada's wealthiest residents. Citified.ca

 

Victoria's population the third wealthiest in Canada: report

http://victoria.citi...-canada-report/

 

BC’s capital has clenched third place on the podium of Canada’s wealthiest metropolitan areas, according to a report published by Toronto-based Environics Analytics.

 

Joining Canada’s stalwarts of riches – Vancouver and Toronto – Victoria has officially displaced Calgary as the (formerly) entrenched third most fabulously wealthy region in the country. [Full article]

[UDeMan]

I wonder what they include in household wealth.  They include house value, but do they also include present value of workplace pension plans?  Since Victoria has a large portion of people that have some type of Defined Benefit Pension plan, it's easy to have a large net worth if you include this.