tag:blogger.com,1999:blog-5936637281134795592.post6562797874540571784..comments2024-03-08T08:55:52.985-08:00Comments on Whispers from the Edge of the Rainforest: Whistler's Empty StorefrontsUnknownnoreply@blogger.comBlogger9125tag:blogger.com,1999:blog-5936637281134795592.post-90542494572247168562012-05-23T08:51:55.643-07:002012-05-23T08:51:55.643-07:00Resort property is usually the canary in the coalm...Resort property is usually the canary in the coalmine where trends are concerned. That is to say that when we see prices falling sharply in areas like Canmore or Whistler we can expect trouble is brewing elsewhere even if nothing has yet happened. In this case we are getting a snapshot of the health of the countries whose citizens make up much of our ski tourism. Europe is deflating, Japan is still suffering the ill effects of its tsunami, China is going through a massive housing correction and Australia is so tied to the purse strings of others it is an inevitable casualty. The list goes on. What we are seeing though is the conclusion to a great period of credit excess that spans the entire globe. It is absolutely everywhere now and nobody will be immune to its effects as it unravels. As the delevering grows in earnest I think we will see cities like Canmore and Whistler suffer a hurtful decline in their fortunes that will run for many years. So the idea that this represents an improvement in affordability strikes me as a depressing comment. It is really more of an unfolding tragedy and I find it difficult to see the sunny side. It won't be pretty to watch. <br /><br />FarmerAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-69199052927985187502012-05-22T22:47:26.787-07:002012-05-22T22:47:26.787-07:00Completely agree, Farmer.Completely agree, Farmer.Whispererhttps://www.blogger.com/profile/03524022285962626228noreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-59342264301983758432012-05-22T22:21:25.701-07:002012-05-22T22:21:25.701-07:00Boom-bust, boom-bust, boom-bust.....only differenc...Boom-bust, boom-bust, boom-bust.....only difference is that this is going to be a deeper bust than usual and it should take many years to fully resolve. <br /><br />Merchants are not fools. They have the numbers in hand daily and know the cycles of the seasons as well as the larger cycles of the market. Getting out at the top (even if the business is closed and not sold) is sometimes more prudent than fighting through a losing season and watching your cash flow wither. <br /><br />Some might say that what is being witnessed now is that the rats are jumping off the ship. The picture that paints is a negative one. But maybe it is so. <br /><br />Just ask yourself why rats jump off a ship in the first place. Usually they have an insiders edge to trouble that is coming and that is therefore something that all of you should be paying attention to. Is this an early warning that trouble is brewing in the economy? <br /><br />Business's are choosing voluntarily to close thier doors.They are doing so before they have been forced to close by slow conditions and falling revenues. They are quitting while they are still strong. <br /><br />Now why do you think they would do that? <br /><br />FarmerAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-32368281832846166752012-05-22T12:49:26.254-07:002012-05-22T12:49:26.254-07:00A beautiful place to live is now getting more affo...A beautiful place to live is now getting more affordable. But resistance restricted building lots are still 110,000. But try finding another small Canadian town of 10,000 people that has that kind of infrastructure.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-49256881527331804922012-05-21T23:24:38.852-07:002012-05-21T23:24:38.852-07:00hey! interesting to read this now, halfway through...hey! interesting to read this now, halfway through the year. The market took a slide but now everything looks like it might be coming back again <a href="victoria-bc-real-estate.net/" rel="nofollow"> Victoria BC Real Estate </a>justin smithhttps://www.blogger.com/profile/00993582996141673446noreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-26305175480396582002012-05-21T18:16:46.099-07:002012-05-21T18:16:46.099-07:00Took my family to W. last weekend and it was dead....Took my family to W. last weekend and it was dead. But the weather was great!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-64178990662667003402012-05-21T17:15:01.590-07:002012-05-21T17:15:01.590-07:00You caught an important point here regarding prope...You caught an important point here regarding property taxes. It cannot be overstated how difficult the coming RE deflation will be on municipal revenue.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-87955891230307111512012-05-21T13:23:23.089-07:002012-05-21T13:23:23.089-07:00I thought Whistler would get unbelievable more awe...I thought Whistler would get unbelievable more awesome after it was bought out by Fortress Investments (yet another PE vampire ala Bain Capital) via a highly leveraged buyout. Between whistler village council sucking high taxes, and cash flowing out to the hedge fund guys in New York, no wonder the lifeblood is evaporating there.<br /><br />Joe Hussein is a genius cashing out at the peak, even if he was forced to by a hedge fund.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-35783671257366171772012-05-21T12:07:03.830-07:002012-05-21T12:07:03.830-07:00I took my family skiing to Whistler on Saturday - ...I took my family skiing to Whistler on Saturday - patios were very nearly full, and the streets were packed with people. Activity everywhere. <br /><br />Luxury cars litter the parking lots.<br /><br />The village looked every bit as busy as I've ever seen, and the ski season was one of the most crowded I can remember.<br /><br />Real estate valuations may be falling, and I have no clue how retail is faring, but there is no shortage of visitors. The village just keeps growing in size.Anonymousnoreply@blogger.com