Have A Great Long Weekend!
Stories!
< 1 minute read
September 4, 2020
Post a Comment
28 Comments
Pick5 is a weekly series comparing and analyzing five residential properties based on price, style, location, and neighbourhood.
Stories!
< 1 minute read
September 4, 2020
Pick5 is a weekly series comparing and analyzing five residential properties based on price, style, location, and neighbourhood.
Jenn
at 8:33 am
What the hell is happening in the rental market??
Professional Shanker
at 8:53 am
2nd that! Interesting to gain some perspective how the softening rental market will impact ownership trends and price in the 416.
Appraiser
at 11:02 am
Good news on the labour front. Canada adds 246,000 full-time jobs in August.
More importantly: “Core-age men (aged 25 to 54) have been the least affected by the shutdown and their employment level in August reached 96.6% of its February level. Employment among core-aged women, which was hit harder and has been slower to recover, reached 95.6% of pre-pandemic levels, while employment among workers aged 55 years and older reached 94.5% of pre-COVID levels.
Youth (aged 15 to 24) were most affected and remained the furthest from their February employment level, with employment for both young men and young women being at 84.7% of February levels.”
Appraiser
at 11:03 am
Link: https://www150.statcan.gc.ca/n1/daily-quotidien/200904/dq200904a-eng.htm?HPA=1
Chris
at 11:17 am
“While the initial quick recovery in Canada’s labour market is welcome, economists predict it will fade, with many of those initially displaced by the pandemic already back at work and the economy as open as it can be for now.” – BNN Bloomberg
“Canada’s unemployment rate is coming back down from its peak of 13.7% in May to 10.2% in August. But notice that the current unemployment rate remains well above the peak in the global financial crisis.
Employment has now recovered 63% of the COVID losses. So still a ways to go for a full labour market recovery: 1.8 million Cdn workers are still impacted, but a significant improvement from the 5.5 mill impacted in April.” – Stephen Tapp, Deputy Chief Economist & Trade Research Director at Export Development Canada
And per Trevor Tombe, Associate Professor of Economics at the University of Calgary and a Research Fellow at The School of Public Policy, the effective unemployment rate in Ontario is 16.2%, after “adjusting for participation rates and hours worked”.
https://twitter.com/trevortombe/status/1301894871494524928
M
at 12:03 pm
“The number of people who wanted to work but did not search for a job was little changed in August. If people in this group were included as unemployed, the adjusted unemployment rate would be 13.0%. The adjusted unemployment rate was 13.8% in July and 7.3% in February.“
Chris
at 12:09 pm
Bingo.
Statistics Canada also measures this through their labour underutilization rate, which includes those who were unemployed, those who were not in the labour force but who wanted a job and did not look for one, and those who were employed but worked less than half of their usual hours.
In February 2020, the labour underutilization rate was 11.2% It reached a peak of 36.1% in April, and remains elevated at 20.3% in August.
Appraiser
at 2:15 pm
“There are none so blind as those that will not see.”
~ John Heywood, 1546.
Chris
at 2:22 pm
“Have you ever had even one single original thought?
Asking for a friend.”
– Appraiser, 2020
Appraiser
at 2:28 pm
continued…
“The most deluded people are those who choose to ignore what they already know’.” (Loc. cit.)
Chris
at 2:32 pm
continued…
“Incoherent.” (Loc. cit.)
Kyle
at 8:13 pm
@M
Not surprised at all that number was little changed, there are a lot of people who still live with their parents collecting CERB. Why on earth would they search for a job?
Bruce
at 11:54 am
David, I’m curious as to your thoughts on the following predicament: house prices keep rising and condo prices keep falling. What are the long term implications? Thank you.
Appraiser
at 12:53 pm
Condo prices falling?
Where?
Condo apartment prices are up 9.5% year to date. http://trreb.ca/index.php/market-news/market-watch
J G
at 2:26 pm
What are you talking about? 416 Condo: Feb 727k, Aug 670k
https://housesigma.com/web/en/market?municipality=10343&community=all&house_type=C.&ign=
Wake up old man.
Appraiser
at 2:30 pm
Falling: adjective
Definition:
1.
moving from a higher to a lower level, typically rapidly and without control.
“she was injured by a falling tree”
2.
decreasing in number, amount, intensity, or quality.
“falling attendance figures”
https://www.google.com/search?q=falling+def&rlz=1C1CHZL_enCA703CA703&oq=falling+def&aqs=chrome..69i57j0j46j0l5.11576j0j15&sourceid=chrome&ie=UTF-8
Appraiser
at 2:32 pm
Hey amateur stock humper – the markets are taking another big dump today…
Question – time to buy, sell or hold?
Make the call.
Chris
at 2:38 pm
Another big dump today!! After the carnage:
S&P500 only +18.23% YoY
NASDAQ only +43.11% YoY
Blood in the streets!!! Time to make your call!!!
Chris
at 2:52 pm
Let’s take an even broader look though.
10 Year Change:
MLS GTA Composite HPI +120.8%
TSX +38.03%
DJI +170.33%
S&P500 +217.75%
NASDAQ +402.22%
15 Year Change (inclusive of GFC):
MLS GTA Composite HPI +178.7%
TSX +55.20%
DJI +165.56%
S&P500 +183.61%
NASDAQ +417.62%
Unless they had an inexcusable home country bias, most stock humpers have done just fine.
Fearless Freep
at 7:49 pm
Everyone needs somewhere to live, but only some of us are lucky enough to be able to buy and sell stocks with each other. Don’t try to pretend we can all play in that sandbox.
Chris
at 9:59 pm
Freep, you’re not wrong. The high cost of living, the price of real estate, steep rental rates, etc., make that difficult for an average income earner.
But as David has correctly stated before, when we quibble about stocks vs. real estate, we’re approaching it from the standpoint of competing investment options.
We’re not referring to your residence, and if renting or buying it is the superior option. There are a myriad of factors involved in that discussion beyond cash flows and asset appreciation; most of which will vary between individuals, and thus make broad sweeping advice inappropriate.
Appraiser
at 2:48 pm
Oh, oh! Even Garth thinks a correction is in order: https://www.greaterfool.ca/
“So, stock markets are reassessing their froth. Good thing. A correction of 10% or so would be understandable. Even welcome. “
Chris
at 2:54 pm
You mean like the correction that occurred earlier this year? The same one that markets have now moved well beyond?
“the S&P 500 had gained 60% since March. Sixty per cent. That’s about nine years of normal growth. Stunning.”
Clifford
at 4:55 pm
Comments sections are always 85% full of Appriaser and Chris going at each other. Maybe they should get their own section.
Bal
at 6:20 am
No one stopping anyone else to comment…I enjoy their conversation…without them this place would be boring….lol…
Appraiser
at 7:53 am
…”Are you not entertained?”
Chris
at 10:15 am
At least someone enjoys our incessant bickering.
Appraiser
at 8:06 am
Here’s a topic proposal for you Dave:
In the upcoming throne speech there is ample evidence to suspect that the Liberal Government along with strong support from the NDP, is about to unleash a revamped social safety net of generous proportions, along with environmental investments on an epic scale. All of which I am fully in favour of.
If the throne speech passes, what affect if any, do you believe these perhaps society-changing legislative proposals might have on real estate values long term.