1) secure in their jobs
2) have taken into account possible increases in taxes.
Vancouver City council is looking at job cuts and increased taxes to try and deal with huge budget short-falls. These job cuts will be in full time City Hall positions and even police and fire-fighter positions. Not good.
http://www.theglobeandmail.com/news/national/british-columbia/job-cuts-likely-option-to-balance-vancouver-budget/article1363298/
http://www.vancouversun.com/news/City+Vancouver+looks+cutting+staff+close+budget+shortfall/2220380/story.html
What happens after the Big corporate party/ Nationalistic medal struggle AKA the Olympics? What sort of shape will the Provincial and City budgets be in then??
Don't expect to find out until well after the Olympics. You will remember how we had a projected balanced and then a small deficit from the Provincial Government until AFTER the election, when the truth about the deficit emerged.
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BTW if the answer to 1) and 2) above is no...or not sure, then at least make sure you have a CHMC insured mortgage so we can all be on the hook when you walk...
That's pretty good scare mongering.
ReplyDeleteYou think it is scare mongering eh?
ReplyDeleteEbay gone. EA cutting jobs. The city cutting jobs. Dozens of programs being cut by the Province.
Meanhwile the CHMC has had it's budget doubled to help people get into housing at historically very expensive levels, with very little down and with historically low interest rates..
Do you think this story has a happy ending?
I think not, but that is just my opinion, what's yours?
You tell 'em fish.
ReplyDeleteI wasn't scared... just glad someone has the patience to type out the consequences for the nth time.
Good sign something will change soon? -->
ReplyDeleteMSM seems to be now slowly releasing articles that imply housing bubble.
EG: http://network.nationalpost.com/np/blogs/tradingdesk/archive/2009/11/16/is-canada-in-a-housing-bubble.aspx
http://www.theglobeandmail.com/report-on-business/three-views-on-a-housing-bubble/article1365253/
I'd have to agree with anon-1. There are many people who don't buy wisely, and many more who do, but bears don't do their point of view any favors when posts sound like out and out jealousy.
ReplyDelete