Tuesday, February 21, 2012
Sunday, February 19, 2012
Saturday, February 18, 2012
Friday, February 17, 2012
Board of Directors — Biographies
In accordance with the Canada Mortgage and Housing Corporation Act, the CMHC Board of Directors is responsible for managing the affairs of the Corporation and the conduct of its business. The Board is comprised of ten members, including the Chairman, and the President and Chief Executive Officer.
Chair of the Board of Directors, CMHC
Principal, Chiesa Group
President and Chief Executive Officer
James A. Millar
National Capital Region
The Sussex Circle
André G. Plourde
President, Groupe immobilier de Montréal Inc.
E. Anne MacDonald
Pictou, Nova Scotia
Chief Financial Officer
Partner, Practical Plumbing Co. Ltd.
A rather small board considering the Hundreds of Billions which are at stake. Their background, from what I have gleaned from the CMHC web-site...
A developer, a CMHC employee and executive, a consultant, another developer, a real estate broker, a CA, a small town lawyer with RE/Wills and municipal experience, another developer, a partner of a plumbing and renovation company.
I am sure they are well meaning people. However I am not reassured. Neither it would seem is the IMF which has called for more supervision.
Where are the well-known Business and Economic Professors from U of T or McGill? Where is the seasoned insurance executive who has dealt with major losses? Where is the representative from the Canadian Tax Payers Association? WHERE is the significant representation of NON-housing interests? Why not have an a housing skeptic Economist like David Madani on the Board?
Would we only let Doctors and Nurses run the Ministry of Health? Of course not. Should the Minister of Health only ever be a doctor, and the Minister of Defence only ever be a soldier? Of course not. We need outside views to be heard too, especially when we all have to share in the liability.
Here is more of what the IMF had to say..
Tuesday, February 14, 2012
Forget HAM- we have home-grown pork barrelling.
The missing women's inquiry is costing us $80K a day in lawyers fees!!
WTF! - the police screwed up. Admit it. Move on. Give the money to the families.
But NO we have to have a media circus, with everyone lawyered up at the tax-payer's expense including apprently Mr Greenpsan (who represented that up-standing citizen Conrad Black)- at over $1000/HOUR!
So far they have spent $4 million on this circus, most of it going to lawyers, with no end in sight.
That's on top of the trial which ate through untold Millions to tell us that Picton-the-devil was gilty and now we have to pay to hear how the police didn't screw up.
Right next to the Sun article on the missing women legal expenses is another article about heart surgeries at Childrens Hospital. Do you think we could spend our money a bit better on the latter than the former.
End of rant.
Saturday, February 11, 2012
Monday, February 6, 2012
We have a new method of calculating HPI which the REBGV says we should not compare with previous HPI's and then it goes ahead and compares it... and lo and behold there are two charts with completely different numbers.
While we sort though this confusion, here is what is certain:
"We are seeing trends emerge that favour buyers.." so says the REBGV Prez.
13% less sales than last year. 18% less than 2010.
19.9% increase in new listings from last year (Jan 12 v Jan 11)
253% higher than December 2011
Total listings up 20% from last Jan. Highest Jan listings since 1995.
MOI = 12544/1577 = 7.9! Is that right.
Now here is the confused mess:
Press release chart with HPI chart
Another HPI chart
The second one shows a LOT more areas with 5 year negative values and makes more sense to me eg Whistler condos; which is +95% on the first chart and -6.8% on the second. I presume one is using the old HPI and one the new, though the discrepancies are just too large.
Can anyone make sense of this? Jesse? anyone else? I am too busy to try and plow through it right now.
Sure would like to see the median prices.