January 2012 B.C. Economic Fundamentals
- Thread starter Ally
- Start date
- Joined
- Mar 24, 2009
- Messages
- 16,743
Bark beetles, climate change, and our future
Recently, a classmate from the University of B.C. asked what I thought about Canada backing out of the Kyoto agreement, and if there was any connection between the insatiable bark beetles infesting the province's forests and the rising temperatures on Earth.
First, trees are effectively the greatest CO2 warehouses ever created. For every metric ton of wood grown, 1.5 metric tons of CO2 is absorbed and one metric ton of oxygen is released.
Read the full article here.
Recently, a classmate from the University of B.C. asked what I thought about Canada backing out of the Kyoto agreement, and if there was any connection between the insatiable bark beetles infesting the province's forests and the rising temperatures on Earth.
First, trees are effectively the greatest CO2 warehouses ever created. For every metric ton of wood grown, 1.5 metric tons of CO2 is absorbed and one metric ton of oxygen is released.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Province integrates employment programs
In an effort to integrate services to help unemployed British Columbians, the provincial government has integrated provincial and federal programs and has sought out community partners to help people find jobs quickly in their communities.
The new $342 million one-stop, job-hunting program called the Employment Program of B.C. will have numerous "catchment areas" across the province. The program is scheduled to begin at the beginning of the province's next fiscal year, April 1.
Read the full article here.
In an effort to integrate services to help unemployed British Columbians, the provincial government has integrated provincial and federal programs and has sought out community partners to help people find jobs quickly in their communities.
The new $342 million one-stop, job-hunting program called the Employment Program of B.C. will have numerous "catchment areas" across the province. The program is scheduled to begin at the beginning of the province's next fiscal year, April 1.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Kitchener smelter modernization is a go!
"This is formally a go!" were the words of Jean Simon, President of Primary Metal for Rio Tinto Alcan. The long-anticipated announcement that Rio Tinto's Board of Directors had formally approved the Kitimat modernization project then received an overwhelming, standing ovation.
Simon explained the ability to produce clean, self-generated, hydro power coupled with leading edge technology gives Kitimat a distinct advantage over other smelters world-wide. Annual production capacity at the new smelter will increase over 48% to 420,000 tonnes.
Read the full article here.
"This is formally a go!" were the words of Jean Simon, President of Primary Metal for Rio Tinto Alcan. The long-anticipated announcement that Rio Tinto's Board of Directors had formally approved the Kitimat modernization project then received an overwhelming, standing ovation.
Simon explained the ability to produce clean, self-generated, hydro power coupled with leading edge technology gives Kitimat a distinct advantage over other smelters world-wide. Annual production capacity at the new smelter will increase over 48% to 420,000 tonnes.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
South Korea takes "major step" to accepting Canada beef
South Korea has taken a "major step" to ending an eight-year-old ban on imports of Canadian beef, Canada's agriculture and trade ministers said on Friday.
The South Korean Parliament ratified import health requirements for Canadian beef under 30 months of age on Friday, one of the final steps to ending the ban, the ministers said in a release.
Read the full article here.
South Korea has taken a "major step" to ending an eight-year-old ban on imports of Canadian beef, Canada's agriculture and trade ministers said on Friday.
The South Korean Parliament ratified import health requirements for Canadian beef under 30 months of age on Friday, one of the final steps to ending the ban, the ministers said in a release.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
B.C. property assessments all over the map
Homeowners in Whistler can expect lower property assessments this year, their counterparts in some Vancouver neighbourhoods can anticipate double-digit increases, and people in other cities and regions will likely see little or no change.
The variations are consistent with real estate trends of the past year, said Tsur Somerville, a professor at University of British Columbia`s Sauder School of Business.
Read the full article here.
Homeowners in Whistler can expect lower property assessments this year, their counterparts in some Vancouver neighbourhoods can anticipate double-digit increases, and people in other cities and regions will likely see little or no change.
The variations are consistent with real estate trends of the past year, said Tsur Somerville, a professor at University of British Columbia`s Sauder School of Business.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Metro Vancouver property assessments see wide variation in 2012
METRO VANCOUVER - North Vancouver home prices up. Lions Bay and Squamish prices down.
Vancouver, West Vancouver way up. Whistler way down.
When Metro Vancouver and regional property owners receive their 2012 assessment notices in the mail over the next few days, they'll see a wide variation in values by region, city and neighbourhood.
Read the full article here.
METRO VANCOUVER - North Vancouver home prices up. Lions Bay and Squamish prices down.
Vancouver, West Vancouver way up. Whistler way down.
When Metro Vancouver and regional property owners receive their 2012 assessment notices in the mail over the next few days, they'll see a wide variation in values by region, city and neighbourhood.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
BC Property Assessments with Value BC
Details about the 2012 Assessment Roll are now available.
2012 Assessment Roll Media Releases (by region) view
2012 Assessment Roll Trends, Graphs & Statistics viewhttp:///Pages/2012AssessmentRollInformation.aspx
2012 Change in Assessment Roll view maphttp:///Pages/2012ChangeinAssessmentRoll.aspx
Visit the full website here.
Details about the 2012 Assessment Roll are now available.
2012 Assessment Roll Media Releases (by region) view
2012 Assessment Roll Trends, Graphs & Statistics viewhttp:///Pages/2012AssessmentRollInformation.aspx
2012 Change in Assessment Roll view maphttp:///Pages/2012ChangeinAssessmentRoll.aspx
Visit the full website here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
TD predicts trouble for B.C. real estate, Toronto condos
British Columbia and Ontario could both face some real estate troubles over the next two years, though economists don't foresee a bust in Canada's housing market.
British Columbia is forecast to have it worse, said senior economist Jacques Marcil, and will likely see "a signifcant correction" this year. Indeed, he said in a report today, the Vancouver market likely peaked last year.
The report, which examined the country's provincial economies, projects home resales in British Columbia will sink 3.7 per cent this year, while prices decline 3.5 per cent.
Read the full article here.
British Columbia and Ontario could both face some real estate troubles over the next two years, though economists don't foresee a bust in Canada's housing market.
British Columbia is forecast to have it worse, said senior economist Jacques Marcil, and will likely see "a signifcant correction" this year. Indeed, he said in a report today, the Vancouver market likely peaked last year.
The report, which examined the country's provincial economies, projects home resales in British Columbia will sink 3.7 per cent this year, while prices decline 3.5 per cent.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Metro Vancouver real estate growth cooled in 2011after a hot start: Report
Metro Vancouver`s 2011 housing market cooled considerably after starting the year with a bang, according to a Real Estate Board of Greater Vancouver report released Wednesday.
`2011 started with very strong demand, especially in [Vancouver`s] west side, Richmond and West Vancouver, but then it peaked in June and closed the year with greater balance between sellers` supply and buyers` demand,` Greater Vancouver board president Rosario Setticasi said in an interview.
`[Prices] dropped about 1.5 per cent from June to the end of the year. But overall, the benchmark price for all residential properties increased 7.6 per cent for the year.`
Read the full article here.
Metro Vancouver`s 2011 housing market cooled considerably after starting the year with a bang, according to a Real Estate Board of Greater Vancouver report released Wednesday.
`2011 started with very strong demand, especially in [Vancouver`s] west side, Richmond and West Vancouver, but then it peaked in June and closed the year with greater balance between sellers` supply and buyers` demand,` Greater Vancouver board president Rosario Setticasi said in an interview.
`[Prices] dropped about 1.5 per cent from June to the end of the year. But overall, the benchmark price for all residential properties increased 7.6 per cent for the year.`
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Nanaimo's unemployment rate stuck at 7.5%
Despite a new year, the job market in Nanaimo is not getting any easier. According to Statistics Canada, the unemployment rate is stuck stubbornly at 7.5%, and most economists are using words like "volatile" to describe the economic climate for 2012.
Organizations throughout Nanaimo offer a variety of courses, seminars and information sessions that can help a person seeking work find it, and get an edge on their competition.
The Central Vancouver Island Multicultural Society offers three such courses to immigrants and locals alike.
Read the full article here.
Despite a new year, the job market in Nanaimo is not getting any easier. According to Statistics Canada, the unemployment rate is stuck stubbornly at 7.5%, and most economists are using words like "volatile" to describe the economic climate for 2012.
Organizations throughout Nanaimo offer a variety of courses, seminars and information sessions that can help a person seeking work find it, and get an edge on their competition.
The Central Vancouver Island Multicultural Society offers three such courses to immigrants and locals alike.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Experts say pipeline would quickly pay off
Construction projects meant to move things - from oil and electrical power to rail cars and automobiles - are all about spending billions quickly, then enjoying a steady economic return over the decades.
Enbridge's $5.5-billion Northern Gateway pipeline will do that and more, the firm says.
The majority of the spending, and most of the permanent jobs created, will be in B.C.
But the royalties paid to Alberta for the bitumen, the taxes paid to the federal and provincial governments, and the profits generated for the pipeline owners - which could include some First Nations - as well as the producers of the oil the pipeline will carry far exceed the cost.
Read the full article here.
Construction projects meant to move things - from oil and electrical power to rail cars and automobiles - are all about spending billions quickly, then enjoying a steady economic return over the decades.
Enbridge's $5.5-billion Northern Gateway pipeline will do that and more, the firm says.
The majority of the spending, and most of the permanent jobs created, will be in B.C.
But the royalties paid to Alberta for the bitumen, the taxes paid to the federal and provincial governments, and the profits generated for the pipeline owners - which could include some First Nations - as well as the producers of the oil the pipeline will carry far exceed the cost.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Boost for Abbotsford newcomers
Newcomers to Abbotsford will benefit from an improved immigrant settlement services program that helps them adapt in their new lives and gain employment.
The Abbotsford Community Services Society immigrant services program received $896,341 in funding from the province to help make the transition to Canada easier for new residents.
Read the full article here.
Newcomers to Abbotsford will benefit from an improved immigrant settlement services program that helps them adapt in their new lives and gain employment.
The Abbotsford Community Services Society immigrant services program received $896,341 in funding from the province to help make the transition to Canada easier for new residents.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
B.C.'s economic growth projected to jump by 2013
VANCOUVER -- British Columbia economic growth will be so-so in 2012 and better in 2013, according to a new outlook report from the Conference Board of Canada.
Timber sales to the United States will begin to revive, both metal mining and primary metals manufacturing will be stronger, and B.C.`s $8-billion share of a national shipbuilding contract will provide a further boost to the province`s economy, the board said.
The board`s Metropolitan Outlook for 2012 says a `tepid` recovery of the struggling U.S. housing market means a positive outlook for an economic bellwether, B.C.`s iconic forest industry, which should see a three-per-cent production increase this year and a 4.1-per-cent increase in 2013.
Read the full article here.
VANCOUVER -- British Columbia economic growth will be so-so in 2012 and better in 2013, according to a new outlook report from the Conference Board of Canada.
Timber sales to the United States will begin to revive, both metal mining and primary metals manufacturing will be stronger, and B.C.`s $8-billion share of a national shipbuilding contract will provide a further boost to the province`s economy, the board said.
The board`s Metropolitan Outlook for 2012 says a `tepid` recovery of the struggling U.S. housing market means a positive outlook for an economic bellwether, B.C.`s iconic forest industry, which should see a three-per-cent production increase this year and a 4.1-per-cent increase in 2013.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Continental divide splits provinces' views on Northern Gateway pipeline
British Columbia and Alberta are both resource-rich provinces with similar pioneering histories and rookie premiers who portray themselves as champions of their business communities and natural allies of Prime Minister Stephen Harper.
But a chill descends on the relationship, reflecting the sharply divergent political cultures, when it comes to the controversial $5.5-billion Enbridge Northern Gateway pipeline megaproject.
The vast majority of Alberta's political and business elite, from Premier Alison Redford on down, champion the project while insisting that their province's collective sensitivity to the environment takes a back seat to no one.
Read the full article here.
British Columbia and Alberta are both resource-rich provinces with similar pioneering histories and rookie premiers who portray themselves as champions of their business communities and natural allies of Prime Minister Stephen Harper.
But a chill descends on the relationship, reflecting the sharply divergent political cultures, when it comes to the controversial $5.5-billion Enbridge Northern Gateway pipeline megaproject.
The vast majority of Alberta's political and business elite, from Premier Alison Redford on down, champion the project while insisting that their province's collective sensitivity to the environment takes a back seat to no one.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Canada's jobless rate higher
The Canadian economy created jobs in December for the first time in two months, even as the unemployment rate edged up and concern grew that the country's recovery could be running out of steam.
Statistics Canada said Friday that 17,500 jobs were created last month, although the unemployment rate rose to 7.5 per cent from 7.4 per cent in November as more people entered the labour market in search of work, the agency said.
Read the full article here.
The Canadian economy created jobs in December for the first time in two months, even as the unemployment rate edged up and concern grew that the country's recovery could be running out of steam.
Statistics Canada said Friday that 17,500 jobs were created last month, although the unemployment rate rose to 7.5 per cent from 7.4 per cent in November as more people entered the labour market in search of work, the agency said.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Allowable rent increase in B.C. this years moves to 4.3%
VANCOUVER (NEWS1130) - If you rent, there's a good probability you've received your notice-of -rent-increase. And if you take a close look, you'll see you might be paying an extra 4.3 per cent a month.
That's the biggest rent increase in eight years. Last year the increase was only 2.3 per cent.
Blame inflation, says Nicky Dunlop of the Tenants Resource and Advisory Centre. "How it's calculated is, it's the annual inflation rate plus two per cent, and it's set for landlords in September of each year," she explains.
Read the full article here.
VANCOUVER (NEWS1130) - If you rent, there's a good probability you've received your notice-of -rent-increase. And if you take a close look, you'll see you might be paying an extra 4.3 per cent a month.
That's the biggest rent increase in eight years. Last year the increase was only 2.3 per cent.
Blame inflation, says Nicky Dunlop of the Tenants Resource and Advisory Centre. "How it's calculated is, it's the annual inflation rate plus two per cent, and it's set for landlords in September of each year," she explains.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Vancouver displaces Sydney as second-costliest housing market in survey
Vancouver displaced Sydney as the least-affordable housing market after Hong Kong among large English-speaking cities, as home prices rose faster than incomes, a study of 325 metropolitan areas worldwide showed.
Vancouver`s median home price of C$678,000 ($686,400) in the third quarter was 10.6 times its median pretax household income of C$63,800, making the city `severely unaffordable,` Demographia said in a report today. A ratio of 3 or less is considered `affordable,` according to the public-policy firm`s survey of markets in Australia, New Zealand, Ireland, the U.K., the U.S., Canada and Hong Kong.
Read the full article here.
Vancouver displaced Sydney as the least-affordable housing market after Hong Kong among large English-speaking cities, as home prices rose faster than incomes, a study of 325 metropolitan areas worldwide showed.
Vancouver`s median home price of C$678,000 ($686,400) in the third quarter was 10.6 times its median pretax household income of C$63,800, making the city `severely unaffordable,` Demographia said in a report today. A ratio of 3 or less is considered `affordable,` according to the public-policy firm`s survey of markets in Australia, New Zealand, Ireland, the U.K., the U.S., Canada and Hong Kong.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Asian investors looking to buy
The story of 2012 in real-estate-mad Vancouver could be a "not very sexy" chapter or another surge of cash transactions in the "micromarkets" favoured by Chinese investors.
Julia Lau, Chinese real-estate specialist at Sotheby's International Realty Canada, believes sales are about to spike in certain neighbourhoods in conjunction with the three-week holiday associated with Chinese New Year.
Lau's clients are wealthy Chinese business-men who set their families up in tony areas of Vancouver and West Vancouver that offer multimillion-dollar homes with top schools. These investors like to buy Vancouver property while visiting the wife and kids at this time of year, Lau said.
Read the full article here.
The story of 2012 in real-estate-mad Vancouver could be a "not very sexy" chapter or another surge of cash transactions in the "micromarkets" favoured by Chinese investors.
Julia Lau, Chinese real-estate specialist at Sotheby's International Realty Canada, believes sales are about to spike in certain neighbourhoods in conjunction with the three-week holiday associated with Chinese New Year.
Lau's clients are wealthy Chinese business-men who set their families up in tony areas of Vancouver and West Vancouver that offer multimillion-dollar homes with top schools. These investors like to buy Vancouver property while visiting the wife and kids at this time of year, Lau said.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
We need to talk about housing affordability
Should we impose foreign ownership rules to cool the Lower Mainland's hot housing market and make homes more affordable?
Richmond's Ray Arnold, a retired Kwantlen College design instructor, is starting to think so.
He told me Thursday that young people with families and pensioners are effectively being driven out of Richmond by well-heeled foreign buyers who not only drive up housing prices, but often build homes out of character with the neighbourhood ` which then sit empty.
Read the full article here.
Should we impose foreign ownership rules to cool the Lower Mainland's hot housing market and make homes more affordable?
Richmond's Ray Arnold, a retired Kwantlen College design instructor, is starting to think so.
He told me Thursday that young people with families and pensioners are effectively being driven out of Richmond by well-heeled foreign buyers who not only drive up housing prices, but often build homes out of character with the neighbourhood ` which then sit empty.
Read the full article here.