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Businesses Closing in your area?

That investment group has investments all over, including a few in Canada, note they invest in high growth areas, correct me if I'm wrong, but y'all don't have too many major cities. Scuttlebutt in Texas is its all chinese money:gossip:
Chinese money was a big part of what pushed the lower mainland BC property costs through the roof.
 
Seems like the Lower Mainland of BC has a lot unique things going on.
I have been visiting since the mid 60s, and have seen similar things happen across the border here in Washington State.
First, it went from a sleepy resource extraction area (mining, timber, fishing) to a more modern manufacturing, knowledge, and IP economy.
The trees all got cut down, the ore was much cheaper to extract in Borneo and Chile, and the fish all got caught.
But also- we have had continuous immmigration.
Compared to prairie towns in Montana or Alberta, where population drops and drops, we see the PNW being a desired place for people to move, for the last 150 years.
The weather is great.
And whether you believe in climate change or not, its still consistently a better climate than all the places like Phoenix that are 120 degrees, or the places like Miami where high tide is all the time.
If things continue to get warmer and dryer, more and more people will move to the lower mainland.
There is water. That is going to be more and more important, as time goes on. 3 year drought here, 7 year drought there, that shit adds up. The Pacific, with wet clouds, the mountains, with snow, it means the water situation is better than many places.
Most people I know outside of Vancouver dont see that much Chinese money- in the city, sure, its majority asian now. But up in Sechelt, or over in the Okanagan, the inflow of wealthy retirees, people fleeing the city, or work from homer's are mostly urban white Canadians, and urban white US citizens. I know plenty of both who have spent large sums for land and houses anywhere from 1 to 8 hours out from Vancouver.
The islands are getting more and more crowded, because they are very nice.
Vancouver Island used to be sleepy and cheap, now its pretty much all one town from Victoria to Campbell River, and its not chinese.
As I said earlier, the Indians, particularly the Sikhs, are more interested in pooling family money, and buying Ag land, both sides of the border.
The "family money" thing is pretty important- as land, everywhere on earth, goes up in value, the kind of family banking that most asian cultures have done for thousands of years makes it much easier for them to pull off buying 10,000 an acre ag land. there are no mortgages for ag land, certainly not 30 year fixed.
So the big Sikh families have an advantage.
The other thing I see is the movie business. I know a LOT of people in Vancouver over the last 30 years who have made their livings in movies and tv, and then bought land all over the lower mainland with that money- another case of organic, local income growth fueling real estate price rises. A few were writers or directors, but most were ordinary hourly wage set dressers, costumers, location scouts, hair and makeup, catering- thousands of people work in that industry sector, and the wages are probably better than machinists.

But there are also tech businesses driveing this, in the metro area. Certainly thats a big thing down here south of the border, where Blaine to Portland is one big manufacturing zone, with all kinds of high tech stuff being made, not just bits and bytes.

There is no question that, just like in London or Paris, Mallorca or Miami, LA or Bali, the real estate market in the lower mainland is global.
The buyers are not just the farmers kids from Comox- the island houses with a dock are just as attractive to money from China, or Russia, NYC or LA, Stuttgart or Milan.
This is just a fact of modern life- real estate prices are completely disconnected from local wages, in any place thats a nice place to live, and unless every airplane falls out of the sky, thats not gonna change.

Canadian taxes, in total, including GST and PST and property and so on, are actually not more than US taxes- although there are probably more tax dodges in the US if you have money.
You do definitely have a lot of immigration, but all those bumfuck wheat towns in the prairie have always been dependent on immigration- I have friends whose family were wacky methodist Volga Germans who came to Canada in the 1880s, speaking no english, and dead broke, as well as other friends whose family were immigrants from the Ukraine between the 1st and 2nd world wars- again, non-english speaking, uneducated, and broke when they arrived. Thats kinda the story of Canada.

As far as businesses closing- I got one reason for ya- just a few miles down the road from me, Amazon just opend a 2 million square foot "fufullment center". How many corner stores add up to 2 million square feet?
 
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Seems like the Lower Mainland of BC has a lot unique things going on.
I have been visiting since the mid 60s, and have seen similar things happen across the border here in Washington State.
First, it went from a sleepy resource extraction area (mining, timber, fishing) to a more modern manufacturing, knowledge, and IP economy.
The trees all got cut down, the ore was much cheaper to extract in Borneo and Chile, and the fish all got caught.
But also- we have had continuous immmigration.
Compared to prairie towns in Montana or Alberta, where population drops and drops, we see the PNW being a desired place for people to move, for the last 150 years.
The weather is great.
And whether you believe in climate change or not, its still consistently a better climate than all the places like Phoenix that are 120 degrees, or the places like Miami where high tide is all the time.
If things continue to get warmer and dryer, more and more people will move to the lower mainland.
There is water. That is going to be more and more important, as time goes on. 3 year drought here, 7 year drought there, that shit adds up. The Pacific, with wet clouds, the mountains, with snow, it means the water situation is better than many places.
Most people I know outside of Vancouver dont see that much Chinese money- in the city, sure, its majority asian now. But up in Sechelt, or over in the Okanagan, the inflow of wealthy retirees, people fleeing the city, or work from homer's are mostly urban white Canadians, and urban white US citizens. I know plenty of both who have spent large sums for land and houses anywhere from 1 to 8 hours out from Vancouver.
The islands are getting more and more crowded, because they are very nice.
Vancouver Island used to be sleepy and cheap, now its pretty much all one town from Victoria to Campbell River, and its not chinese.
As I said earlier, the Indians, particularly the Sikhs, are more interested in pooling family money, and buying Ag land, both sides of the border.
The "family money" thing is pretty important- as land, everywhere on earth, goes up in value, the kind of family banking that most asian cultures have done for thousands of years makes it much easier for them to pull off buying 10,000 an acre ag land. there are no mortgages for ag land, certainly not 30 year fixed.
So the big Sikh families have an advantage.
The other thing I see is the movie business. I know a LOT of people in Vancouver over the last 30 years who have made their livings in movies and tv, and then bought land all over the lower mainland with that money- another case of organic, local income growth fueling real estate price rises. A few were writers or directors, but most were ordinary hourly wage set dressers, costumers, location scouts, hair and makeup, catering- thousands of people work in that industry sector, and the wages are probably better than machinists.

But there are also tech businesses driveing this, in the metro area. Certainly thats a big thing down here south of the border, where Blaine to Portland is one big manufacturing zone, with all kinds of high tech stuff being made, not just bits and bytes.

There is no question that, just like in London or Paris, Mallorca or Miami, LA or Bali, the real estate market in the lower mainland is global.
The buyers are not just the farmers kids from Comox- the island houses with a dock are just as attractive to money from China, or Russia, NYC or LA, Stuttgart or Milan.
This is just a fact of modern life- real estate prices are completely disconnected from local wages, in any place thats a nice place to live, and unless every airplane falls out of the sky, thats not gonna change.

Canadian taxes, in total, including GST and PST and property and so on, are actually not more than US taxes- although there are probably more tax dodges in the US if you have money.
You do definitely have a lot of immigration, but all those bumfuck wheat towns in the prairie have always been dependent on immigration- I have friends whose family were wacky methodist Volga Germans who came to Canada in the 1880s, speaking no english, and dead broke, as well as other friends whose family were immigrants from the Ukraine between the 1st and 2nd world wars- again, non-english speaking, uneducated, and broke when they arrived. Thats kinda the story of Canada.

As far as businesses closing- I got one reason for ya- just a few miles down the road from me, Amazon just opend a 2 million square foot "fufullment center". How many corner stores add up to 2 million square feet?

I believe we have half a dozen or more fulfillment centers in the lower mainland and more being built.

It's hard for me to complain about the land prices other then for my kids sakes. Wife and I cashed out of the lower mainland in January of 2022 and got very lucky timing wise in the covid era real estate market and moved 6 hours north to acreage in a very rural area that to us, was a very good deal.

It's just sad watching the small shops and businesses that have been going for sometime closing down, and it's not due to lack of work.
 
Walton Global, has bought up all the farmland around my texas place, literally thousands of acres to create a "master planned community"

They are called smart cities or 15 minute cities. It's where we will all be forced to live when our businesses are taxed out of existence in the new "equitable" economy...


Brian P. Klein, Founder of international communications firm Ridgepoint Global, authored a piece for the South China Morning Post directly parroted by MSN regarding the need to tighten the economy in the name of climate change.

“We can use the power of economic incentives to dramatically alter the type of growth going forward and still head off climate change,” Klein stated, clearly referring to Joe Biden’s recent ‘green energy’ heavy “Inflation Reduction Act”.

Klein, a former US State Department employee as well as CNN contributor, also points out how a small percentage of people would prefer a “less-is-more” approach, stating that there is a “tiny house movement” that promotes a “tidy and simple life”, which he feels might be an excellent solution to make the world a better place.

These theories are ripe with words and phrases that are interchangeable with “you’ll own nothing, and you’ll be happy” but appear somehow less radical — not a surprising choice in wordplay given the poor image such a statement has garnered.

Of course, a “slower growth model” and a “circular economy” will inevitably lead to job loss en masse for the middle and lower classes, but the core argument remains that societies and economies must be forced into a green-energy model that both reduces output and reduces consumption and ownership by the individual.

To justify this, the author points to the aforementioned “Inflation Reduction Act” — not as anything related to inflation but rather as a “sweeping bill” that appeals to “slow growth”.

The new terms such as “degrowth”, which the same Chinese outlet calls “a lifestyle that makes you happier and healthier“, are taken directly from the mouth of international interests.

Specifically, the circular economy is a term that comes from the World Economic Forum. Obviously, the WEF connects this to a net-zero emissions theory, seeking to “accelerate the circular economy transition”
 
Freedom
Good grief man, shake those kaleidoscope glasses. Its going to be homes, apartments, retail, commercial, with parks and bike trails, real scary stuff. From what I can tell Walton buys up chunks of land, they bring in the water and power, get all agreements made with the controlling municipality, then sell off sections to the actual developers/builders.

Musk, Bezos, one of those super rich dudes does want to build a "smart city" somewhere out here in Nevada, from what I can tell now its just a pipe dream.
 
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Freedom
Good grief man, shake those kaleidoscope glasses. Its going to be homes, apartments, retail, commercial, with parks and bike trails, real scary stuff. From what I can tell Walton buys up chunks of land, they bring in the water and power, get all agreements made with the controlling municipality, then sell off sections to the actual developers/builders.

Musk, Bezos, one of those super rich dudes does want to build a "smart city" somewhere out here in Nevada, from what I can tell now its just a pipe dream.
Where do they find water in the middle of Nevada? Developers in the central valley of California got a big shock when bay area environmentalist started asking where they planned to get drinking water as required by state law. 20 year contracts are not permanent sources.
One small development hear me has to use reverse osmosis to get drinkable water from their wells. very expensive. builder told buyers they could hook up to piped irrigation water in a few years. farmers do not want to sell. and the irrigation laws do not allow use for non farming use. Local irrigation district does not allow farmers to irrigate lawns at the farm house. They must use well water for that. They have web cams at the sluice gates to monitor water theft.
Bill D
 
Where do they find water in the middle of Nevada? Developers in the central valley of California got a big shock when bay area environmentalist started asking where they planned to get drinking water as required by state law. 20 year contracts are not permanent sources.
One small development hear me has to use reverse osmosis to get drinkable water from their wells. very expensive. builder told buyers they could hook up to piped irrigation water in a few years. farmers do not want to sell. and the irrigation laws do not allow use for non farming use. Local irrigation district does not allow farmers to irrigate lawns at the farm house. They must use well water for that. They have web cams at the sluice gates to monitor water theft.
Bill D
There is actually quite a bit of water in northern Nevada, Las Vegas/Southern Nevada Water Authority(SNWA) has been eyeing the water up here for well over a decade, and has purchased many large ranches just for the water rights. Drive Hwy 50 from Fernley to Utah, count how many mountain ranges you cross, where do you think all that snowmelt goes? In the spring there are raging rivers in the mountains, as you follow them down they get smaller, by the time you reach the base of the mountain its just a trickle out into the sagebrush, all that water went into the ground. The valley I live in is dotted with alfalfa fields, wells for the pivot irrigation pumps range from 10-50 foot deep. Friend across the valley from me dug out a couple acres on his place and it filled with water to create a pretty nice sized pond, he has to pump water out of it daily to keep it from overflowing the banks. This all used to be a lake https://en.wikipedia.org/wiki/Lake_Lahontan
 
They are called smart cities or 15 minute cities. It's where we will all be forced to live when our businesses are taxed out of existence in the new "equitable" economy...


Brian P. Klein, Founder of international communications firm Ridgepoint Global, authored a piece for the South China Morning Post directly parroted by MSN regarding the need to tighten the economy in the name of climate change.

“We can use the power of economic incentives to dramatically alter the type of growth going forward and still head off climate change,” Klein stated, clearly referring to Joe Biden’s recent ‘green energy’ heavy “Inflation Reduction Act”.

Klein, a former US State Department employee as well as CNN contributor, also points out how a small percentage of people would prefer a “less-is-more” approach, stating that there is a “tiny house movement” that promotes a “tidy and simple life”, which he feels might be an excellent solution to make the world a better place.

These theories are ripe with words and phrases that are interchangeable with “you’ll own nothing, and you’ll be happy” but appear somehow less radical — not a surprising choice in wordplay given the poor image such a statement has garnered.

Of course, a “slower growth model” and a “circular economy” will inevitably lead to job loss en masse for the middle and lower classes, but the core argument remains that societies and economies must be forced into a green-energy model that both reduces output and reduces consumption and ownership by the individual.

To justify this, the author points to the aforementioned “Inflation Reduction Act” — not as anything related to inflation but rather as a “sweeping bill” that appeals to “slow growth”.

The new terms such as “degrowth”, which the same Chinese outlet calls “a lifestyle that makes you happier and healthier“, are taken directly from the mouth of international interests.

Specifically, the circular economy is a term that comes from the World Economic Forum. Obviously, the WEF connects this to a net-zero emissions theory, seeking to “accelerate the circular economy transition”
WEF, SCMP, CNN, Biden and climate change I'm pretty impressed you managed to get that all in. If you included some of the previous posts you could get Bezos and aliens. But I would be really impressed if you managed to weave covid into your fairy tale.
 
Freedom
Good grief man, shake those kaleidoscope glasses. Its going to be homes, apartments, retail, commercial, with parks and bike trails, real scary stuff. From what I can tell Walton buys up chunks of land, they bring in the water and power, get all agreements made with the controlling municipality, then sell off sections to the actual developers/builders.

Musk, Bezos, one of those super rich dudes does want to build a "smart city" somewhere out here in Nevada, from what I can tell now its just a pipe dream.

I suppose we will just have to wait and see. There are a handful of smart cities already in existance.

I believe you are thinking of Bill Gates, he is planning to build a smart city in Arizona.
 
WEF, SCMP, CNN, Biden and climate change I'm pretty impressed you managed to get that all in. If you included some of the previous posts you could get Bezos and aliens. But I would be really impressed if you managed to weave covid into your fairy tale.

I never said anything about politics or CNN . It was a direct quote from an article. There is a plethora of documentation straight from the source about the smart cities initiative. There is also a ton of literature on intentionally reducing economies to a "sustainable" level.

There are MSM links in the text I quoted, have at it chief. If you think that is a conspiracy, you really do live under a rock my friend.

 
I suppose we will just have to wait and see. There are a handful of smart cities already in existance.

I believe you are thinking of Bill Gates, he is planning to build a smart city in Arizona.
It is not going to surprise me if some of the apartments are 4 plex type apartments, San Marcos as a college town already has a bunch of those. For those of you not familiar with the concept, imagine 4 apartments, each has a living room and bedroom and private bathroom, with a shared kitchen area and living room, they've been building them like that for 20 years, great for college kids, probably no one else.

I had to look it up, Blockchain was looking to create a "smart city" in the middle of nowhere, they have cancelled that plan. https://www.bbc.com/news/world-us-canada-56409924

The only actual attempt to build a city from scratch that I know of is "Coyote Springs", a quick cut and paste summary from wikipedia "The land belonged to the Bureau of Land Management (BLM) until 1988, when Congress enacted the Nevada-Florida Land Exchange Authorization Act.[6] This act authorized the exchange of approximately 29,000 acres of BLM-administered lands in Coyote Springs Valley (Clark and Lincoln Counties, Nevada), together with approximately 10,000 acres in Mineral County, Nevada, for approximately 5,000 acres of environmentally-sensitive private land in the Florida Everglades owned by Aerojet Corporation. The purpose of the trade was to provide habitat protection for recovery of ESA-protected species in Florida. The United States did not impose any use restrictions on the lands (fee simple) when conveyed to Aerojet, who originally planned to use approximately 2,700 acres to construct facilities for rocket manufacturing, assembly, and testing, but Aerojet never built the facilities. Aerojet sold the conveyed lands to Harrich Investments LLC in 1996, who in turn sold the Coyote Springs parcel to Coyote Springs Investment group in 1998 with the intent of building a planned community at the site." See Wikipedia for more info https://en.wikipedia.org/wiki/Coyote_Springs,_Nevada
Its a world class golf course, in the middle of nowhere......
 
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Not seeing any closing. A little bit of churn in some commercial spaces, mainly from places that couldn't make it through lockdown. Housing still up with selling prices that boggle the mind a bit.
 








 
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