Look on the bright side...............
From The Globe and Mail
January 14, 2009
For a moment, forget all of the apocalyptic economic news out there.
Sure, things are seriously grim, but if you really look at it, the business pages are actually overflowing with bright spots. Consider the following list of really great economic news stories:
10. Prices for big-ticket items are being slashed. Take autos - dealerships are offering some very attractive prices to keep merchandise moving. It's a great time to be in the market for a new vehicle. The same goes for major appliances and household electronics, especially for those paying cash.
9. Employers are finding relief from labour shortages. There's nothing better for employers than seeing fat stacks of résumés from five-star applicants. For the past few years, stories swirled about the rarity and low quality of applicants. Now, there are more qualified, experienced job-seekers out there. And, yes, some employers are hiring.
8. Housing is becoming more affordable. This is e specially true in places such as B.C. and Alberta, where the housing bubble is slowly deflating. For every unhappy seller, a buyer is smelling a good deal.
7. Construction labour and materials are affordable and attainable again. Big projects, such as those in the oil sands, were dealing with out-of-control cost overruns, making budgeting impossible. Many were postponed or cancelled. Now, costs are on their way down. Skilled trade workers are available again, which helps everyone from the massive project developer right down to the homeowner wanting to drywall a basement.
6. The Canadian dollar has fallen - morphine for the pain suffered by our exporters. Had the loonie still been at or above par with the greenback, the financial pain would be 20 per cent greater than it is now.
5. Gasoline prices have tumbled. Back in the first half of 2008, soaring pump prices were eating away at household spending and adding to the sticker price of everything from soup to nuts, through higher transportation costs. According to the ATB Financial Business Sentiments Index, 60 per cent of businesses in Alberta report that lower energy prices are either "somewhat" or "very" beneficial to their operations. Those prices give some breathing room to otherwise strapped budgets.
4. Federal taxes are likely to fall, at least in the short term. We aren't sure yet what those breaks will look like - perhaps personal income tax relief, or a temporary GST holiday - but any relief will be welcomed by Canadian families.
3. Those freeway interchanges and highway twinning projects may finally get done. The coming federal budget will probably include several billion dollars for infrastructure, part of the emergency stimulus program. Many of these projects are already long overdue and will enhance economic productivity in the long run.
2. Interest rates are low and falling. The Bank of Canada, the U.S. Federal Reserve and other central banks are tripping over themselves to lower rates. Of course, not every consumer is enjoying these - riskier customers still pay more to borrow. But back in the recession of the early 1980s, borrowers and mortgage-holders could only fantasize about today's rates. Even if you subtract the currently low rate of inflation, which gives the real interest rates, the borrowing cost for good credit customers is still relatively low.
1. Best of all: People in the 18-to-28 age group won't have five or six job offers on graduation. They'll have to prepare a proper résumé. They'll have to pound the pavement for a while. And they'll have to do some grunt work before they get the new BMW, the swank condo and the six weeks of vacation.
Falling gas prices, affordable homes, tax relief, better infrastructure, low interest rates and a big bucket of reality splashed in the face of Generation Y. Who says 2009 will be so bad?
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Sanjeev Manocha, MBA
Real Estate Sales Representative
Accredited Buyer Representative (ABR)
Re/Max West Realty Inc, Brokerage
96, Rexdale Blvd., Toronto
Mobile: 416-843-7600
Office: 416-745-2300
http://www.manocharealty.com" rel="nofollow">LINK
Location: carl sagan's universe
Posted on: 26-01-09 07:57:19
Nice shot of adrenalin this morning.
I usually read a line of inspiration or motivation every morning when I get up, but this adds to it.
Aaj to double speed se double kaam karunga.
The low interest rate is definitely proving to be a ray of bright light in these dark times for my mortage...my payments have never been so low.
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If you have a gun, you can rob a bank.
If you have a bank, you can rob everyone.
- Bill Maher
Quote:
Originally posted by investpro
Nice shot of adrenalin this morning.
I usually read a line of inspiration or motivation every morning when I get up, but this adds to it.
Aaj to double speed se double kaam karunga.
Thanks investpro.
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Posted by blorean
The low interest rate is definitely proving to be a ray of bright light in these dark times for my mortage...my payments have never been so low.
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I have few clients for whom I had arranged the 5 years mortgage
@ prime - 0.95. One of those clients was very worried in December 2007 and he wanted to fix his mortgage rates but I asked him not to do so. He agreed but very hesitantly. Guess what? Today he is my 'happiest client' ever
As a matter of fact, he sent me a flower bouquet on my birthday
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Sanjeev Manocha, MBA
Real Estate Sales Representative
Accredited Buyer Representative (ABR)
Re/Max West Realty Inc, Brokerage
96, Rexdale Blvd., Toronto
Mobile: 416-843-7600
Office: 416-745-2300
http://www.manocharealty.com" rel="nofollow">LINK
So you guys actually believe these 10 items are good news?
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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
Location: God's own country
Posted on: 26-01-09 17:48:01
The points are fabulous for the rich and wealthy.
Unfortunately most of the points can lead to job losses for the middle class working Canadians and immigrants (like me). So where will be have the money to enjoy the benefits of the recession.
It is like cutting the head and taking me to a buffet -free of charge.
Peace by TK
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I am a Gents and not a Ladies.
Quote:Exactly, good analogy.
Originally posted by tamilkuravan
The points are fabulous for the rich and wealthy.
Unfortunately most of the points can lead to job losses for the middle class working Canadians and immigrants (like me). So where will be have the money to enjoy the benefits of the recession.
It is like cutting the head and taking me to a buffet -free of charge.
Reminds me of of the "If you don't have bread, eat cake" story from the French revolution days.
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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
