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“My reading of history convinces me that most bad government results from too much government.” – Thomas Jefferson
- Subscribers Please Note
- The Numbers, The Numbers – Vancouver
- The Numbers, The Numbers – Fraser Valley
- The Numbers, The Numbers – The North
- INVESTORS NOTE! Investor Could Turn To North Van Commercial Stratas
- INVESTORS NOTE! Woodframe Walkups Generate Best Rental Income – But Government Erodes All NOI
- Spotlight: Saskatchewan … Swift Current Shifts To A Higher Gear
- Spotlight: Saskatoon Hits Land Jackpot
- Victoria: Going Grey Can Mean Higher House Prices. Really?
- INVESTORS NOTE! Work Camps Squeezing Northern BC Landlords?
- Ozzie Reads: Eyebrow Raiser
- Late News
- Ozzie Talks
- Jurock Insider Hot Properties
- Best Mortgages Rates
I N T E R N A T I O N A L: China Restricts Foreign Buyers But What About Canada?
We at JREI got quite a response – both positive and negative – on our immigration, in particular Chinese immigration piece.
Our federal government drew some heat this year by cancelling the immigrant investor program (which will soon be coming back with higher entrance fees) due
to fears it would stop Asian investors from buying Canadian real estate (fat chance of that.) In a discussion this week withDavid Green-Morgan, global capital markets research director with Jones Lang LaSalle, we learned that China is “actively encouraging” Chinese real estate developers to pursue opportunities in other countries, most notably theU.S., Great Britain, but also in Canada and Australia. Green-Morgan estimates that offshore real estate investments byMainland Chinese investors could hit $15 billion this year, up from $9 billion in 2012, ” and this does not include smaller investors buying existing houses or small commercial projects.”
So we look at what rules are in place across Canada on foreign buyers:
- Alberta limits non-residents to two plots of
agricultural or recreational land not exceeding a total of 20 acres.
- Saskatchewan restricts sale of
agricultural land to foreigners to 10 acres.
- Manitoba prevents non-residents from owning
more than 40 acres of farmland and requires that they move to the province within two years of purchasing the land.
- Quebec doesn’t allow non-residents to purchase farmland
at all without permission from the Commission de protection du territoire agricole du Québec. A non-resident is anyone who has lived in the
province for less than 366 days within the 24 months preceding a real estate transaction.
- P.E.I., which imposes higher property taxes on anyone
who is not a resident of the island – not just foreigners
– and forbids them from owning more than five acres of
land or 150 feet of waterfront without special permission from the Island Regulatory and Appeals Commission.
Now look at how China restricts foreign buyers:
on property sales in 2010 – for locals as well as foreigners. It raised down payments, tightened mortgage rules, introduced property taxes
in several jurisdictions where they did not exist and put in place new limits on ownership.
- Foreigners can own only one residential property for their own use (permanent residents are restricted to two properties).
- Foreigners must reside in the country for one year before they can buy property.
- Foreign companies who buy commercial real estate must use it themselves.
However, some cities in China have started
easing or not enforcing the restrictions
on their own in an attempt to boost the local revenue they get from property sales.
Major Point: All such foreign buyer restrictions are ignored every day, where they exist. Just one example: Last month, despite restrictions, the Canada Pension Plan Investment Board invested US$250-million into China Vanke Co., Ltd., the largest residential
developer in China.
CANADA: Subscribers Please Note
- We are adding something new. The heading ‘INVESTORS NOTE’ will help identify potential pitfalls and potential good news quicker.
The ‘deal’ section for subscribers, is renamed “Subscriber Hot properties’. Contact info from Realtors/others who post in the new
section will still be best obtained from that password protected area. However, ‘Hot Properties’ received from member owners will have contact info on
your hotline for quicker access – while you are ‘hands-free’ driving.
- SPOTLIGHT – will denote … specific areas and are searchable on your search button.
- Breakdown between “INTERNATIONAL” and “CANADA” will continue in all future FBEs.
OZZIE TALKS – All subscribers have a standing invitation to al Ozzie Jurock Talks events – Next one April 10th at the
Vancouver Marriott – Spotlight on Saskatchewan – details below.
The Numbers, The Numbers – Vancouver
The Real Estate Board of Greater Vancouver (REBGV
) reports that sales reached 2,641 in March 2014. This represents a 12.5 per cent increase compared to the 2,347 sales recorded in March 2013.
STILL … Last month’s sales were 17.2 per cent below the 10-year sales average for March of 3,190 and 35% below the March sales record of 2011
(4,084 unit sales).
The sales-to-active-listings ratio currently sits at 18 per cent in Greater Vancouver, which is unchanged from last month.
“We continue to see steady and stable market conditions across the Greater Vancouver housing market,”
said Ray Harris, REBGV president. “There has been a consistent balance between home seller supply and home buyer demand in our marketplace over the last year.”
The total number of active listings is 14,472, a 6 per cent decline compared to March 2013 and an 8 per cent increase compared to February 2014.
The MLS benchmark price for all residential properties in Metro Vancouver is currently $615,200. This represents a
3.7 per cent increase compared to March 2013. (As opposed to average prices below)
Sales of detached properties
in March 2014 reached 1,116, an increase of 19.6 per cent from the 933 detached sales recorded in March 2013, and a 5.7 per cent decrease from the 1,183
units sold in March 2012.
The benchmark price for detached properties increased 4.2 per cent from March 2013 to $945,400.
Sales of apartment properties
reached 1,106 in March 2014, an increase of 12 per cent compared to the 982 sales in March 2013. The benchmark price of an apartment property increased 4 per cent from March 2013 to $375,800.
(You can here see what it means when you lump it all together. The much larger number of USED Apartment sales combined with the new units actually
increases the price, when it is really only the new ones that have seen the price increases. (A lot of foreign buying?)
We quote the used homes and used condos prices separately from the new priced ones for two reasons:
- 1) The used home number is a lot more relevant. (This March we only sold 72 new homes versus 2,000 used ones!)
- 2) The higher new home price distorts the overall averages, i.e., new home prices are 28% higher, used home prices show NO increase.
The overall average price stood at $847,000 in February 2014, and is down by 5% this March to $802,600 but only some 2% higher than March
2011. The sales volume while 12% lower than last year is down 8% from 2012 and a whopping 35% lower than that achieved in March 2011. Active listings are lower than last year (good) but still 10% lower than in 2011. So, no big new achievements … more like steady as
The Numbers, The Numbers – Fraser Valley
In March, the Fraser Valley Real Estate Board (FVREB) processed 1,259 sales an increase of 12 per cent compared to the 1,128 sales during
March of last year. Like in Vancouver, all numbers are better throughout the value when measured against 2013 and 2012, but far below previous highs in
2011 and 2010. There was an increase in demand in particular for single family detached homes. Sales were noticeably higher in North Delta, Mission and
Langley compared to last year.
Details next week.
The Numbers, The Numbers – The North
1005 sales with a value of $248,635,086 went through the Northern Board market in the first quarter of 2014. This compares with 900 sales worth
$212,173,760 to the end of March, 2013. As of March 31st, 2014 there were 3625 properties of all types available for purchase through the
MLS compared to 3815 at this time last year.
Of interest to note … prices are well down in 100 Mile House, Smithers, Burns Lake, Vanderhoof, and Ft. Nelson. Prices are MUCH higher in Terrace,
Kitimat and Ft.St. John. Other markets show even results to small decreases.
INVESTORS NOTE! Investor Could Turn To North Van Commercial Stratas
With skinny returns and cap rates on residential rentals, some investors are turning to commercial and industrial strata. Take the North
Vancouver industrial market as an example. There, strata industrial and commercial projects now dominate the new builds and the industrial vacancy rate is
in the 1.8 per cent range, comparable to rental apartment buildings.
However, the capitalization rates on North Vancouver industrial property is in the 4.5% to 5.2% range, compared to 3.5% in multi-family rentals. Let’s
break down buying an existing walk-up apartment building compared to buying an existing older industrial site and leasing the space.
The typical North Vancouver apartment building sells for $256,000 per suite, based on a survey of 2013 sales. The average rental income
works out to $17.90 per square foot.
The average older North Vancouver industrial building sells for $250 per square foot, so a 1,000 square foot unit would cost $250,000. The
average annual lease works out to around $12.50 per square foot.
However, unlike residential,
the industrial space has no rent controls, maintenance costs are much lower, all upgrades and utilities are paid by the tenant and tenants often sign
five and even 10-year lease agreements
. (And as a landlord you never have to replace a fridge and stove.)
“Buying industrial strata in North Vancouver makes sense for an investor,”
noted Terry Thies, a principal and industrial specialist with Avison Young Vancouver, noting that North Vancouver has
limited land left for future industrial development, vacancy rates are low and demand is increasing.
We have been recommending strata commercial and industrial units for years. Returns have outperformed residential strata on the whole. We also love North
Vancouver. Strata commercial and industrial sales accounted for the “majority of deals” in a $197 million market in North Vancouver last year. New
industrial space sells for around $300 per square foot, but lease rates average $13.50 to $15.00 per square foot.
INVESTORS NOTE! Woodframe Walkups Generate Best Rental Income – But Government Erodes All NOI
A first-ever annual survey of Lower Mainland landlords shows that walk up, wood frame apartment buildings generate the highest annual incomes, but that
government-related expenses are rising faster than rents in all rental building types.
The survey, done by appraiser Jeremey Bramwell of Bramwell & Associates Realty Advisors (www.vancouverappraisal.com) with the BC Apartment Owners & Managers Association,
(which has since merged with the Rental Owners and Managers Society of BC and the Rental Housing Council).
The 2013 survey involved 96 rental apartment buildings representing 4,022 rental units, ranging from bachelors to three bedrooms. Buildings included 16
high-rise concrete towers, 24 wood frame with underground parking and elevators, 3 wood frame with u/g parking and no elevator, 6 low-rise concrete, 13
wood frame with elevator and 34 wood frame walk ups with no elevator,
The survey found that operating costs in the Lower Mainland average 53.6% of rents and other cash incomes, such as parking and laundry.
The biggest expenses are repairs and maintenance (11.8%), property taxes (6.75%) and non-resident staff (6.2%), followed by utilities (5.7%), according to
However, annual allowable rent increases in B.C. are capped at around 2.2% annually.
Given increases in property taxes and utilities, and the cost of maintaining an aging stock of properties, Bramwell said the numbers indicate that
government-regulated rent increases do not keep pace with government-regulated expenses such as property taxes and utilities.
“They’re increasing at a rate higher than the annual allowable rent,” he said. “It’s slowly beginning to push the [net operating income] to a point where
it’s less than 50% of the income for the property.”
Bramwell said the gap between expenses and rent increases can effect a building’s evaluation, especially in the lower capitalization rate environment of
Cap rates have fallen 60% over the past decade for multi-family rental properties and are now between 2.5% and 4.25%, according a separate survey from David Goodman of HQ Real Estate Services.
“When you’re down to between 3% and 4% on a cap rate, a couple of thousand dollars’ change in expenses without any adjustment in the income can start to
have a rippling effect to the capital value,” Bramwell said.
The overall average actual rental income of the 96 buildings showed an average annual income of $12,273 per unit, or $19.13 per square foot
When those buildings that had extra income – parking and laundry – are factored in, the average per-suite income rose to $13,040 per suite, or $19.63 per
Overall, the average total expense ratio of all 96 properties was 46.42% or $5,881 per unit. In each of the five reported categories the total expenses
ranged from a low of 41% to a high of 59%. The wood frame on slab with no elevator had the lowest reported expense ratio, and the wood frame on slab with
an elevator had the highest ratio.
The results came as a surprise, Bramwell said, since landlord operating costs had traditionally been estimated at between 35% to 45% of income, but the
survey revealed it really averages 53%!!
Property taxes and water & sewer fees ranged from $1,060 to $1,298 per unit, accounting for an average of 9.1% of total expenses. Property management
fees appeared to have no correlation to size of building ranging from 3.63% of total expenses to 7.4%. The concrete high-rise buildings represented the low
end of the spectrum, while wood frame on slab with elevator represented the high end. Repairs and maintenance ranged from 9.87% of total expenses to 17.55%
with the highest ratio attributed to the concrete high-rise buildings. The elevator fees were fairly similar across the board ranging from $96 per unit to
$154 per unit.
Major Point: Overall, average Net Operating Income for all 96 reported properties was 53.57% or $7,159 per unit. In the five categories of properties
reviewed the highest average NOI was at 58.84% and the lowest was at 40.52%. The wood frame on slab with no elevator had the highest NOI average and the wood frame on slab with elevator had the lowest.
Bramwell is now conducting the 2014 Annual Apartment Income & Expense Survey, which will include Victoria. If you want to participate as a building
owner, call 604-608-6161 to request the forms.
WOOD FRAME WALK UP APARTMENT BUILDING
Survey results from 34 buildings with a total of 597 rental units
Average annual rental income per suite: $15,702
Total average annual income: $15,936
Average annual property taxes per suite: $1,021
Total Expenses per suite:
Net Operating Income per suite: $9,093
Spotlight: Saskatchewan … Swift Current Shifts To A Higher Gear
One telling fact underlines the fast-paced growth of Swift Current, Saskatchewan’s sixth largest city: building permit values in the past six years are
more than the total of the previous 25 years combined.
Fifty detached homes were built in 2013 along with 56 multi-family and condo units. Total construction has totaled over $415 million since 2005 with
approximately $175 million of that since 2011.
“Last year we had the highest value for permits issued in our history, at $85 million,” said Marty Salberg, Swift Current’s director of business
development, noting that 2011 held the previous record and 2014 is on pace for another busy construction pace.
The main service and shopping centre for southwest Saskatchewan, Swift Current relies on agriculture, manufacturing and – more recently – the oil industry,
which together forge a solid economy, Salberg explained.
The city’s population rose from 16,500 in 2009 to 17,500 in 2013, and includes more than 500 immigrants. Planners see this as only the start: within the
next seven years, the population is expected to top 20,000.
Agriculture – cattle, wheat and pulse crops – has long been Swift Current’s trump card and are seeing record-breaking farm incomes since 2012.
The City has also been able to attract various large scale businesses. Swift Current is home to Batco Manufacturing, largest belt conveyer
manufacturer for grain handling products in North America, which recently expanded its plant three-fold to 114,000 square feet; farm machinery maker and
exporter REM Enterprises Inc.; and Urban Forest Recyclers, which supply half of North America’s egg tray market.
Yet it is the oil industry – linked to the massive Bakken oil fields south of the city – that have helped launched Swift Current into a
Saskatchewan powerhouse. As exploration and production increase, the city has become the go-to centre for oil services, from consultants and engineers to
The dramatic growth – and potential – in Swift Current is reflected on where the city is spending its money. Two new elementary schools are under construction directly adjacent to the Cypress Regional Hospital. Plans continue for the addition of a
new 225-room Long Term Care Facility and city facilities such as an aquatics leisure centre, field house and library and art gallery.
“In the past few years, the city has invested in a new state of the art hospital, wastewater treatment plant, hockey and curling facility, expansion to the
water treatment plant and more. Total investment in this infrastructure exceeds $80 million,” Salberg said. As well, more than 600 homes have been built in
the past six years.
All of this requires land, and the city has moved aggressively to get it.
In 2011 and again in 2013, the city annexed a total of eight quarter sections – approximately 1,280 acres – from the neighbouring Rural Municipality of Swift Current.
This land will help Swift Current meet demand for industrial property. The city currently offers fully served industrial land in three city-owned sites, at
around $90,000 per acre, but current industrial parks are close to capacity.
As a major retail hub in southern Saskatchewan, Swift Current has most of the big box stores, including recently expanded Walmart and Canadian Tire, and both the city’s shopping centres have been renovated.
According to city assessments, the average value of a residential property in Swift Current has increased about 47% since 2007 – and the typical apartment
building price doubled – but you can still find older detached houses in the city for under $200,000. A more typical price, however, is the $400,000 and up
range for newer houses, according to listings from Re/Max of Swift Current.
Swift Current has the highest apartment vacancy rate and the lowest average rent in the province, according to Canada Mortgage and Housing Corp. (CMHC). The vacancy rate jumped from 2.8% in 2012 to 8.7% in spring 2013, while the
average two- bedroom apartment rents for $751, compared to a province-wide average of $899. The vacancy rate increase – which is expected to decline – is
tied to a lot of new rental construction.
Swift Current is Saskatchewan’s 6th largest city, with a population of approximately 17,500.
– The immediate market area serves approximately 55,000 but an 800 km radius contains approximately 6 million people.
– The city is located at the junction of two major highways: the Trans-Canada and Highway 4. The Canadian Pacific Railway
runs through the community, which also has a municipal airport with three paved runways.
– In the next 3-4 years investment into Swift Current projects is valued at an estimated $100 million.
Spotlight: Saskatoon Hits Land Jackpot
The City of Saskatoon is joining other real estate investors cashing in as demand and prices flirt with record highs. The City has a near
lock on new serviced industrial land.
The city is expected to release another 36.5 acres of industrial land after posting startling sales at its dominant Marquis site, which is being slowly fed
into an apparently insatiable market.
Examples of the city’s offerings: a 1.44-acre site for $2.9 million; and a 3.7- acre site for nearly $1.7 million.
“[Marquis] land prices have remained stable as prices range from $424,000 to $483,000 per acre,” noted a survey by ICR Commercial Real Estate.
The next industrial land put up by the city is expected to be made available in serviced parcels of from 1.36 to 2.25 acres and are expected to be listed
for sale this spring.
An estimated 77 per cent of all industrial development in Saskatoon is now concentrated in the Marquis Industrial area, where more than 260,000 square feet
of industrial property is under construction.
In 2013, Saskatoon saw the lease up or sale of more than 500,000 square feet of industrial real estate and 56 per cent of that has been sold or leased.
Sale prices of finished buildings is ranging from $175 to $195 per square foot, with lease rates for new buildings in the $12 to $14.65 per square foot
Saskatoon currently has an inventory of 17.7 million square feet of industrial space and only 6 per cent of it is vacant, according to ICR.
Saskatoon, SK, January 14, 2014 –
The Economic Division of the Taipei Economic and Cultural Office (TECO), Canada was in Saskatoon Monday, January 13, 2014 and Tuesday, January 14, 2014 for
a trade and investment seminar. This delegation included Dr. Chih-Kung Liu, Ambassador, Taipei Economic and Cultural Office in Canada; Dr. Shun-Hua Wei,
Director, Science and Technology Division, TECO Canada; Mr. Martin Chen, Executive Assistant Director, Economic Division, TECO Canada; Ms. Vivian Su,
Assistant Director, TECO in Vancouver; and Mr. Scott Yang, Director, Taiwan Trade Center in Vancouver.
Victoria: Going Grey Can Mean Higher House Prices. Really?
A recent report by the Bank of Montreal suggests 15% of Canadian baby boomers plan to retire in Victoria, B.C. Add that into the mix with
a population that is living longer, continued migration from other regions and a growing student population and over time you get a significant growth in
population, according to the University of Victoria, which suggests this could mean higher home prices.
According to B.C. Stats, 423,743 people are expected to be living in the capital region by 2025 and 456,377 by 2035, increases of 11% and 19.6%,
respectively, from the 381,743 estimated to be living here now.
People over 65 already make up 20% of the capital region’s population. By 2035, it’s expected to be nearly 30%.
As a comparison, currently 14% of the Metro Vancouver population is 65 or older. That will be 22% in 20 years. In the Fraser Valley, the percentage will go
from 16% to 21%. In the Central Okanagan, it goes from 19% to 25%.
“This has some implications for housing,”
according to survey from the University of Victoria. “With a number of fairly wealthy retirees, housing prices may go up, and it may make it increasingly more difficult for young people and families to
Major Point: Perhaps Victoria house prices will rise with an aging population, but we doubt it. The MLS single-family detached house benchmark price for the entire
Greater Victoria region was $483,400 in February, a 1.4% decrease compared to February 2013 and 3% lower than in 2012. You need jobs, young workers and a
progressive economy to drive housing values higher. We would sooner invest where the population is younger, not older, than I am.
INVESTORS NOTE! Work Camps Squeezing Northern BC Landlords?
Before you rush into a build another rental complex in booming Dawson Creek, consider the profusion of work camps. Last week, the Peace River Regional District approved another 250-man camp in the Pink Mountain area. Right now, work camps for the
northern gas fields house 3,000 workers, none of whom are paying to rent apartments or hotel rooms in town.
In fact, local hotel owners say they have lower occupancy levels now than three years ago.
One landlord – whose company developed the Upper Montney Estates complex near the roundabout in Dawson Creek – said the oil and gas
industry is the major driver behind his apartment rentals. With 200 doors in town and a 64-unit building under construction, he said work camps are
creating a barrier for his business.
“We consider all these options, and then it comes along one day that there’s a 2,000-man camp coming in 20 kilometres from Dawson Creek,”
he said. “I can honestly say today that I don’t think we would have went ahead and built that 64-unit building if we had known that camp was coming.”
“We have two acres of vacant land in front of these three buildings where we always anticipated building another building. Now we have to weigh our
decisions on whether we should go ahead and make more investment in Dawson Creek,”
Developer David Steele (Western Properties) sees it differently. Says he in an email:
“Ozzie-the rental market in Dawson Creek is currently very strong. We have delivered townhomes in February and March with more coming on in April and
May and everything we have coming on in April and May is already pre-leased.”
The man camp? Steele: “The man camp proposed near Dawson Creek is approximately 50 km away.”
Well, be that as it may..in general … work camps don’t help. One issue in work camps generally is having workers rent out apartments,
and then leaving as soon as space frees up at a nearby work camp.
In one of my past life times, when I came to Canada, I worked in a lumber work
camp near HEARST, Ontario. It was the modern version of a ‘sweat shop’ in the forest’ … but you could eat 3 steaks and wash them down
with 10 eggs.
Today’s camps are different … Besides offering free accommodation for workers, modern work camps are nice places to live. The newest camps such as the
one at Mt. Milligan mine near Prince George have a fully equipped kitchen and cafeteria and dining rooms and there are food coolers and
snack stations throughout. Natural light comes in from numerous windows. Outside is a breezeway that leads to sleeping quarters, lounges, fitness gyms,
libraries with common-use computers, safety and first aid quarters, offices and other amenities. Some camps in B.C. also have a movie theatre, stores, food
franchises and other elements of life back in civilization.
In Kitimat, Rio Tinto Alcan has a massive 1,700-man work camp for construction workers for its smelter upgrade and now a
floating hotel has sailed into town to house more Alcan workers. (See FBE from 2 weeks ago.) Rio Tinto Alcan has contracted the 557-foot long Silja Festival, capable of housing 600 workers plus its 100 crew, to house crews working on the $3.3 billion Kitimat aluminum smelter
“We have already installed a 1,700 bed camp for our workers, which is nearly full. We expect to utilize close to 500 more beds,”
Rio Tinto Alcan spokesperson Colleen Nyce said in an email. ” There isn’t enough room in Kitimat anymore, with the [liquid natural gas] projects doing early works in the region as well.”
The ship is docked at Rio Tinto Alcan’s marine terminal. It has 575 single-occupancy rooms, a 378-seat dining room, three licensed lounges, gym, laundry
meeting space and other facilities.
Kitimat Mayor Joanne Monaghan is optimistic the floating hotel will help ease the lack of housing in the town, which has
had a massive influx of residents and workers since 2011 when construction of Rio Tinto Alcan’s modernization project began and LNG work began firing up.
She reckons typical rent in town for two-bedroom apartment is now north of $1,500 and the rental vacancy rate is near zero.
Major Point: Kitimat and the northeast remain top landlord markets, but be sure you know when and where the next giant work camp is about to show up and whether or
not the jobs remain after the construction/renovation phase is completed.
BEST MORTGAGES RATES:
Is it possible for Prime to decrease in 2014?
Those who predict and “bet” on prime rate fluctuations seem to think that there is an increasing chance that the prime rate may drop later this year. The
estimated probability of the prime rate decreasing rises to 35% for the July Bank of Canada meeting and hovers around 50% for the rest of the year. In fact, the chances of a decrease exceed the chances of an increase during 2014.
“Although the chances of a decrease may exceed the chances of an increase, I still feel that the Bank of Canada will stick to a slow, cautious approach
and is much more likely to raise rates slowly when the time is right,”
says Kyle Green of Mortgage Alliance
“What this data does tell us, however, is that the incentives for the Bank of Canada to raise rates is not likely to be present during 2014 and very
possibly 2015 as well. A variable may be a safe bet for the next 2 years. Is it possible for Prime to decrease in 2014? Yes, but I still hesitate.”
JUROCK INSIDER HOT PROPERTIES:
One bedroom, 4th floor, $525 rent, within walking distance to basic amenities. Could join rental pool. Price: $45,000.
Ozzie Reads: Eyebrow Raiser
The controversial book Flash Boys – by Michael Lewis was featured on 60 Minutes last week and other
news services. In it the writer says … stock markets are rigged – spotlight on high frequency trading. Michael Campbell’s long term guest Mark Leibovit (market timer of the year) writes often about the ‘electronic’ manipulations and in fact
advises his subscribers to watch ‘strange volumes’. The book goes a lot further than that. A MUST read if you wish to play in the stock markets!
The 30-year plan for the Marpole community was approved unanimously by city council Wednesday (April 2), after more than two dozen members
of the public signed up to speak to the strategy. This includes plans for 6,800 new homeownership units, 835 rental units, and 1,085 units of social
housing. Vancouver: it is a ‘changing!
Ozzie presents an update on Thursday, April 10th on the Saskatchewan Real Estate market. We will be discussing the economic opportunities
unfolding in Saskatchewan for 2014 and beyond. The evening will specifically cover Saskatchewan with a focus on Swift Current and Saskatoon and the impact on these markets from the new gas and oil finds as well as focus on the Agriculture,
Manufacturing, Tourism and Service sectors and its future.
There will also be information on a Positive Cash flow Real Estate Opportunity in Saskatchewan.
This is a private, invitation only event with limited seating so please register to attend. You may bring guests as long as they are registered beforehand.
Seminar will be held next Thursday, April 10th, Location will be:
Vancouver Marriott Pinnacle Downtown
1128 West Hastings Street
Time: 7 p.m.
Seating is limited so you must RSVP! Either call 604-683-1111 or e-mail:
To subscribe to Jurock’s Facts by Fax ($147 p.a.) call 1-800-691-1183 or 604-683-1111 or fax 604-683-1707.
While the above information is compiled from sources believed to be reliable, its accuracy cannot be guaranteed
Any type of investing carries inherent risks; as such, JREI cannot assume responsibility for any subscriber’s actions.