What's Wrong with Canada?

Discussion in 'Economics' started by shortie, May 25, 2011.

Does Canada Have Bright Future?

  1. Absolutely

    64 vote(s)
    71.9%
  2. Maybe

    14 vote(s)
    15.7%
  3. No

    11 vote(s)
    12.4%
  1. zdreg

    zdreg

    70% say Canada has a bright future. 18% say maybe and you think that is a large #. you are joking if you think that is a large #.

    here are the numbers for the US:
    Direction of Country

    Right Direction35
    Wrong Track57
    Spread -22
     
    #131     May 31, 2011
  2. you are right. there are always those who disagree with the bright future.
    it is actually surprising that so few people don't believe in Canada with many voters not being from Canada.
     
    #132     May 31, 2011
  3. Yes, it happens here too. Standard joke in Vancouver: what body of water divides India from China?

    The first cut is self-aggregation based on wealth. The second cut is, to an an extent that befuddles some perspectives, generally based on ethnic background.
     
    #133     May 31, 2011
  4. IMO only real problem with Canada is the cold weather.
     
    #134     May 31, 2011
  5. http://online.wsj.com/article/SB10001424052702303745304576355170933584418.html?mod=googlenews_wsj


    05.31.2011


    "Canada's economy expanded at a 3.9% annualized pace in January through March, the fastest clip in a year and more than double the rate in the U.S"

    "GDP growth accelerated from a downwardly revised 3.1% in the fourth quarter, which was originally reported at 3.3%. The economic performance was the reverse of the U.S. where growth decelerated to 1.8% in the first quarter from 3.1% previously."

    "On a quarterly basis, GDP in Canada accelerated 1% from 0.8% in the fourth quarter of 2010. Final domestic demand grew 0.6%, half the pace of the previous period. "
     
    #135     Jun 1, 2011
  6. No worries, we sell really warm jackets here.
     
    #136     Jun 1, 2011
  7. BSAM

    BSAM

    Me thinks a lot of USA citizens are jealous of Canada.
     
    #137     Jun 1, 2011
  8. deaddog

    deaddog

    One thing positive, is that for the most part the rest of the world likes us Canucks.
    You can wander around the world with a Canadian Flag on your luggage without getting into too much trouble.
     
    #138     Jun 1, 2011
  9. zdreg

    zdreg

    decades ago when there was a spate of airplane hijacking people did not want to carry US or UK passports. it was known that you were safe if you carried a Canadian passport.
    -----------------
    hosing boom in Canada
    vancouver home boom
    Chinese Fuel Vancouver Home Boom
    By MONICA GUTSCHI

    A fresh wave of Chinese buyers, coupled with Canada's already frothy home prices, has vaulted Vancouver into the ranks of the world's most unaffordable real-estate markets.

    Bungalows—small, detached, single-story homes, some in need of significant repair—can command prices well above a million Canadian dollars (US$1.02 million.) One local website, crackhouseormansion.com, invites visitors to guess whether homes pictured on the site are property sold for more than C$1 million or are alleged crack houses.

    The Canadian Real Estate Association says the average house price in Canada in April was C$372,544, up 8% from last year. In Vancouver, it was more than twice that, at C$815,252, up 21% from a year ago.

    Demographia, a property-affordability survey published by Illinois-based consultant Wendell Cox, estimates that median real-estate prices in Vancouver are 9.5 times median household income. Only Hong Kong and Sydney are less affordable by that measure. (New York comes in at 5.1.)

    The price rises are especially sharp in the high end of the market, with real-estate agents pointing to a flood of foreign buyers, particularly Chinese. Condominiums are popular, but so are single-family homes, including fixer-uppers that buyers eventually tear down. While there is some speculative buying, Canadian and Chinese agents say Chinese buyers are looking for longer-term investments to diversify their holdings outside of the mainland.

    Sales of homes worth more than C$2 million soared by 118% in Vancouver in the first four months of this year, real-estate brokerage RE/MAX reported in May. The average price in the high-end segment now tops C$3 million.


    Eric Christiansen
    PRICEY IN ANY CURRENCY: This house in West Vancouver hit the seven-figure mark in Canadian dollars.

    Quantifying Chinese buying is difficult. Local authorities don't publish statistics on foreign ownership of residential property. Real-estate consultancy Landcor Data Corp. pored through sales data in two high-end Vancouver neighborhoods, looking for "pure" Chinese names—excluding Western first names or any "remotely non-Chinese" variants—in an attempt to get a sense of the scale of mainland buying. They found 74% of buyers of luxury homes in the areas last year fit the category.

    Vancouver real-estate agents say Chinese buyers dominate the high end of the market, fanning demand and prices across the city. The strong demand for high-end homes has helped drive up prices for more modest houses. Some Vancouverites are selling their now richly valued homes and buying more-expensive ones, while new buyers are scrambling to buy before prices rise further, agents say.

    "It creates this positive vibe, this dynamic to the market that is upbeat," says Elton Ash, vice president for western Canada at RE/MAX.

    Canadian home prices have climbed steadily since the end of the economic and financial crisis, even as U.S. home prices resume their decline. Low interest rates have made borrowing easy, and the global commodities boom has fired up Canada's resource-rich economy. On Tuesday, the Bank of Canada kept its benchmark rate at 1%, though some expect the bank to raise rates by the end of the year, spurring some buyers to act before mortgage rates go up. Other markets, including Toronto and Montreal, have seen their own steady home-price increases, but nothing has approached the boom in Vancouver.

    The boom has triggered a bit of a backlash. A former city councilor, Peter Ladner, in April caused a ruckus after he said Vancouver should study measures, which could include restricting both local and foreign real-estate purchases, to ease prices. "It's eroding business, the economy, because people can't afford to move here to take up jobs," he says. He recommends .......


    Canadian banks managed to avoid the US subprime mess.
     
    #139     Jun 2, 2011
  10. zdreg

    zdreg

    spend six months in Florida.

    saying the "only" real problem in Canada is the weather is a stretch. Use of" only" suggests that you know very little about the country.
    every country has real problems. It is just that Canada had done a good job with dealing with them.
     
    #140     Jun 2, 2011