Wednesday, March 18, 2015

Thousands And Thousands Of Layoffs Happening In Calgary

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A thousand at Suncor, 300 at Nexen, 200 or more at Conoco, Talisman another 300 and so many others. Target closed a store today in Forest Lawn laying off 150, no media coverage there. So many more layoffs loom. Mom and pop stores laying off everywhere. It's awful and it's sad.

It was all too predictable. Sad man, just sad.

Contact this blogger gbench17@gmail.com
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Tuesday, March 17, 2015

The Future




There will be lots of deals, some pennies on the dollar for houses, boats vehicles of all kinds. This is not a little downturn its about the Russian embargo and subsequent plays by Gazprom into Indonesia and China up till now prime market areas for the west. 

We have lost our markets. The Saudi? They are in no better shape and are looking at opening lNG plant in Jordan to cover their market loss to Gazprom and even bigger losses competing against the Chinese LNG plants in indonesia. 

Japan was BCs dream. Japan asked to be included in the 3.00 mcf north American LNG deal. They were paying 15.00 per mcf. They were told no. Christie Clark figured she had it made and is still playing that tune to her province. 

Japan elected a new Government who immediately recommissioned 3 nuclear plants and says they will build 6 new state of the art plants within 2 years. 

We have lost our markets and it will be a 6 or 7 year journey to the end of it barring a world war. 
There is no upside. 


Source unknown. But the spoken words are true.

I warned about all this 2-3 years ago.

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Sunday, March 15, 2015

Oil



How low will it go, my best guess, $35 BBL in the next six weeks than rebound to $45 and stay there for quite some time.

Just sayin...
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Friday, March 13, 2015

Edmonton SFH Price 8 Years ago Was $451,000




Until that happens I hate to break it to the negazots (my nickname for the robotic naturally pessimistic people) but there is no bubble here. Let me repeat there is no bubble here. Prices may swing but this market will not collapse. I do expect price corrections in a broad range of products and areas in the near future. I do expect some speculators will get burnt, and that is their risk, and if they are insane enough to put all their eggs in one basket they may just deserve to loose it all. 

Read more: Fear mongering a full time job for some! | The Edmonton Real Estate Blog

What is it now. 8 years later. Edmonton SFH's are today worth $30,000 less than when this realtor said their was no bubble, even with interest rates that are 60% less than 8 years ago.

Did it all work out for you? 

Remember, there is no bubble here. LOL !!

By the way, I always resisted calling people names. Labeling people Negazots is far to Nazi like for me.

Keep tuned here for all the realtor posts from 2007-2011, I got em all, and they're all going up.
Any issues with this post contact gbench17@gmail.com

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Monday, March 9, 2015

Compare This To 12 Months In The Future

 
Then you'll wish you sold today.
And next year, you'll regret buying yesterday. To this point, I have not heard a single Calgary realtor say its a good time to buy property in the Calgary market.
Trust me, there is no recovery for Oil.
And by the way, throw that silly benchmark price out the window, does anyone any where no what it is?  In my opinion it is pure fiction created by the REIC, its simply a made up price that no one understands where or what its derived from, it's worthless and irrelevant.
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Wednesday, March 4, 2015

Just Another Day

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Helmed by mortgage fraudster Kevyn Frederick, the partially constructed Bellavera Green condo development fell into financial trouble in late 2011, when millions of dollars in mortgages and loans disappeared, leaving multiple claims on Frederick’s highly leveraged real estate holdings.

After Frederick failed to pay contractors or mortgages, construction stopped at the site. Safety concerns went unresolved, and by early 2012, the Leduc Fire Department evacuated the building because of safety concerns.

Owners of the units eventually learned their properties never really belonged to them. Multiple mortgages were already on their titles. Most buyers at Bellavera Green condos had borrowed extensively to buy multiple condo units, but ended up with little apart from mortgage payments.

The condo was finally sold out of receivership in March 2013 for $16.68 million, with the proceeds going to other debtors.
http://www.calgaryherald.com/news/edmonton/Lawyer+involved+fated+condo+development+resigns/10682943/story.html
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Tuesday, March 3, 2015

Police link Calgary group to mortgage fraud scheme

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Taxpayers could be on the hook for millions of dollars after authorities linked a Calgary-based group to what they’re calling a complex mortgage-fraud scheme.

After a lengthy investigation dating back as far as 2007, the Alberta Law Enforcement Response Teams (ALERT) said they have uncovered a mortgage fraud connected to more than 20 homes in Calgary, Fort McMurray and British Columbia, ranging in price from $300,000 to well over $1 million.

“The ultimate victim here is the Alberta taxpayer,” Staff Sgt. Martin Schiavetta said Thursday at Calgary police headquarters at the Westwinds campus.

He said many of the fraudulent, high-ratio mortgages were insured through Canada Mortgage and Housing Corp., a federal Crown corporation.

Four people were arrested Dec. 10 and face a total of 29 criminal charges, including organized crime, conspiracy to obstruct justice, fraud, money laundering and sex assault.
http://calgaryherald.com/news/crime/police-link-calgary-crime-group-to-mortgage-fraud-scheme

Just more of the same, and as usual, the taxpayer will pay to prosecute, Jail (if found guilty) and compensate the lenders. Just another day. Ho hum.
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