“Where I work close to Richmond I was stunned at the amount of commercial real estate available.”

“Where I work close to Richmond I was stunned at the amount of commercial real estate available. For example, a 143,000 square foot building previously occupied by Kodak. I don’t know who thinks this is a great time to get involved in a major purchase after seeing the sheer volume of “For Lease” signs…”
Prepmonkey at greaterfool.ca 18 Jul 2012 10:35pm

14 responses to ““Where I work close to Richmond I was stunned at the amount of commercial real estate available.”

  1. pricedoutfornow

    Not only Richmond, I noticed this last year when I went to Annacis Island to visit a client. All these huge manufacturing buildings, empty, with For Lease signs out front. Sad to think that our economy no longer supports fabricating things (except lies about real estate of course), What will be left of our economy when the real estate boom goes bust?

  2. Also of note, BC is adding record manufacturing jobs according to statscan: 35,000 more “manufacturing” jobs than a year ago. So all that supposedly vacant commercial space is probably filled.

    • I don’t know much about StatsCan’s methodology or occupational taxonomy… But if they’re working from the same template that UncleSam’s BLS uses…

      …”In 2004, then-President George W. Bush’s annual Economic Report of the President yielded similar questions about job classification when it appeared to recategorize fast-food positions as manufacturing jobs.”…

      [ColoradoObserver] – House Panel Probes Integrity of Obama Green Jobs Estimates

      http://tinyurl.com/6ucszbo

    • Renters Revenge

      I can’t find this stats can report. Link?

    • Manufacturing jobs?

      Yep, manufacturing windows, siding, shingles, furniture, laminate flooring, stainless steel sinks, staircases, doors, decks and the list goes on.

    • I’m not sure how StatsCan/RevCan categorize slaves, Dr. J… I’m thinking NetNet, they’d would have to show up in the balance of trade somewhere – and for taxation purposes they’re still treated as DepreciatingCapitalAssets, right? Right?…

      Regardless… DearReaders, this morning’s news of life behind the RazorWire in PlantationRichmond was simply too too good not to share here/now… And, of course, it comes with your Friday…. Quote ‘O The Day!

      “They treat us worse than dogs, actually. It seems like I come in slavery.” – Olando Milford of Jamaica, ‘Temporary Foreign Worker’ and Richmond BlueBerry Picker

      [CBC] – Workers allege they’ve been cheated by B.C. farmer

      …”A Richmond, B.C., blueberry farmer who has twice been cited for withholding farm workers’ pay is under investigation again, CBC News has learned. KNN Blueberries’ owner Kash Nijjer, faces the new complaints from two workers who want to know why Nijjer is still being allowed to bring foreign labour into the country to work on his farm.”…

      http://tinyurl.com/77b8zht

      [NoteToEd: Just wait until the RE Brokerages figure out this business model… I can see them now, “TemporaryForeignAgents” – with special licensing exemptions, natch…]

      • Bonus Quote ‘O The Day!!!

        “It’s our responsibility to maximize the value of our assets.” – Vancouver Airport Authority representative Rebecca Catley

        [G&M] – Airport’s mall plan angers authorities in Richmond

        “As mall builders hunt desperately for space in the land-squeezed Lower Mainland, they’re alighting on controversial spots out of the reach of municipal planning. First, it was the Tsawwassen First Nation. Now, it’s the Vancouver International Airport, where politicians and planners are fuming over the airport authority’s plans to partner with London-based McArthurGlen in building a massive luxury outlet mall.”

        http://tinyurl.com/7pad73x

        [Einkaufen macht frei?]

  3. This topic prompted me to link an article by Daniel Amerman, CFA, who breaks down the ‘missing economy’ and debt overhang. Though I can’t verify his figures, he does illuminate why economies in North America (specifically US) simply can’t meet growth rates based on consumption. A hole in purchasing is looming and we’ll see the full effects by 2020.
    http://news.goldseek.com/GoldSeek/1342714183.php “Three Converging Factors May Slash Economic Growth By 71%”
    The conclusion is linked to his own site.

    I believe we are beginning to see the effects in Vancouver with a decrease in active buyers for RE and goods.

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