canuck964

While layoffs in the retail sector will certainly have some impact on the Canadian economy.

What I fear more is layoffs in the resource sector and in the manufacturing sector.

Ontario and Quebec have had to deal with massive losses in manufacturing employment as our strong Canadian dollar is too expensive for US companies to manufacture up here.

BC's mining and forest industries are a shadow of their former selves. The fishing industry in BC is also declining.

And now the US environmentalists have realized that the economy will trump environmental concerns. So instead of using advertising to make claims about the environmental costs of the Keystone pipeline, they now portray Canada and the oil industries as puppets of China who want to built the pipeline so they can ship oil and its related profits to big bad China.

http://knlive.ctvnews.ca/harper-feat...nion-1.1660083

I fear this approach will work. The US are great at making everything black and white (no racial slurs intended). By painting the pipeline as being rammed thru for the benefit of China it makes it easy to portray the good guys vs. the bad guys. I suspect this approach will work whereas dealing with this as an environmental issues would not have worked.

Without the ability to export oil out from Alberta, the oil sand projects will slow down. Currently they have to sell Alberta oil at 40% below world market prices.

Then there are the natives and other eco terrorists in BC vowing to stop the pipeline thru BC.

Hopefully saner minds will prevail here.

I am more worried about these developments rather than Sears having to lay off employees.

CamsPorsche

I feel bad as my previous post eludes to greater confidence than I should be portraying. Our firm is project management related and as such our roles are temporary in nature so although we are hiring, all positions posted at the moment will end September 2015.

Granger968

+1 on the self fulfilling prophecy comment and supporting argument...

jcb928

This is 145 Galley Ave Toronto. It was listed for $649,900 & sold last week after a bidding war for 803,649.

No bubble here folks, buy now or buy never, Prices NEVER go down.

myw

it perplexes how people are rushing and overbidding this thing as it contains a gold mine.

the renos to redo this thing from inside out have to be minimum another 1/4 million.

Pags993

At 803 + renos the new owner better plan on living there a long time to see any return on that investment unless of course they plan on doing the renos all themselves which is not likely.

REDTURBO

Looks more like a tear down home if you ask me....
I can't imagine what the plumbing/electrical and mold is like in that home. Or even water damage due to the foundation for that matter.

I've completed a couple of reno flips on the side in the last few years and always expect the unexpected

aviography

My first thought too, maybe a little cheaper to reno, but tear down & rebuilt would be faster, bureaucratic paperwork aside.

jcb928

Interesting chart

ZR8ED

I'm not aware of any economic slowdown where I work. We can hardly keep up, and are working 10hr shifts and soon to be Saturdays. It not all doom and gloom folks though I do understand that not all sectors of the economy are doing well. But for now, I'm going to "make hay while the sun shines"

moab

I believe this was a detached home. Detached houses in downtown Toronto are very sought after since lots of young professionals who are starting to have kids work downtown and don't want to commute. It's simply a function of supply and demand. Sure, prices periodically go down, but historically, real estate goes up and up.

JimV8

Of course thats what everybody in the States thought too. In fact they were all banking on it.

myw

its picking up again.

i'm going to give it another 5-10 years and see how it fares overall; there are always serious crashes i many markets; but in the big picture they rare last forever.

myw

imo it looks like it directly correlates to housing costs and the borrowing that occurs with them.

moab

Long term, it will go up though. Real estate is a finite resource.