Sunday, January 11, 2009

the unravelling ball of wax


So, you've probably heard by now that Vancouverites are the last bagholders on the Millenium(Under)water development - AKA "The Athletes' Village". A billion bucks. $2000 more debt for every man, woman and babe-in-arms in Vancouver. Say, I don't remember having the option to vote against that when I voted against the Olympics, and the $175 million in capital expenditures. Ah well, never mind, they/we can sell the 500 unsold condos after the Olympics, things will really take off then, right? Our calling card has been sent to the world, and we have ARRIVED!

Oh, and the $150 million for security, that we all knew was laughable, is now admittedly north of a billion $. That will be an extra $750 per Vancouverite to cover our share.

This really is TBPOE... to get screwed.

In other news: Alberta lost 16,000 jobs last month - the worst losses of any province. Wipe that smug smile off of your face Calgary. (By the way, have you finished paying for your Olympics yet?)

That's just the way it is these days.

8 comments:

markoz said...

In Saturday's "Sun" the Westcoast Homes section had a full page ad by Polygon entitled "Market Downturn or Market Opportunity?" It took the form of an essay giving real estate advice by the president and CEO Neil Chrystal. He says that for first time buyers "home prices are within reach for the first time in years". He says that if you are planning to live in a place for at least 5 years "there has never been a better time too buy a new home." Of course, any first time buyer with a 10% or less down payment will be underwater by the end of next year (even Royal LePage expects Vancouver prices to drop 9% next year) and they will be paying the bank interest on money they wouldn't have had to borrow had they just waited. Will they regain their lost equity in 5 years? Maybe. Are home prices affordable for the first time in years? We're only back to early 2007 prices which are far from affordable. Neil sends out a big hello to his main man Gordo for doing such a good job of running the province. He concludes by imploring people to "visit a Polygon community in your area this weekend" so they can sling a sales pitch at you. Smells like desperation to me...

jesse said...

"(By the way, have you finished paying for your Olympics yet?)"

Actually I think they have. Guess how they did it though? I'll give you a hint: it rhymes with "boil" and "toil".

Anonymous said...

AH, tin foil...

blueskies said...

what i am wondering
is the RE koolaid the same flavour as the Olympic koolaid?

BearClaw said...

At least Albertans are (were?) economically viable enough to own their boondoggles ;-)

Vancouverites have no shame crying over their ruined sweet 16. I get sick to think of the increased taxes and (further)reduced services family in the kootenays will have to endure.

I think cessation to Alberta is a definite option.

solipsist said...

Vancouverites have no shame...

nor brains. The whole thing makes me want to, oh, I don't know...puke?

It is why I so much despise advertising. People actually voted for it (if they lived in Vancouver). Security, the underwater project, the trade and convention centre. Let's party!

Suckers.

Anonymous said...

Blueskies, there are slightly different percentages of the two main ingredients... urine and BS and cocaine "for that quick lift".

But the taste is pretty much the same, and it's going to have the pretty much the same results on any human body dumb enough to ingest it.

Anonymous said...

I live in Calgary and things are getting quieter and I'm happy as hell. I've had to listen smug jackasses since the damn boom started and I'm glad it's over.

Go Vancouver!