61–70 of 195 posts
"but the title is clickbait" Almost every Bloomberg title is clickbait [1]. Probably Bloomberg should be flagged for title correction. Perhaps: "Canadian government offering relocation to homeowners from some declining villages" Financial news readers may enjoy Reuters, which has far less irritatingly misleading titles. [1] source: Bloomberg.com
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This is a big part of it. It's not that the cities are expensive, it's that they're so unaffordable. This is especially so in Vancouver where the average income (~C43k)[1] is lower than Toronto, and yet prices are higher. The large disparity between local incomes and housing prices is a major reason why there is so much attention on the implications of foreign capital on Vancouver's housing market. It seems like ther…
Vancouver real estate is the way it is because it has been targeted by Chinese ponzi schemes, bank fraud schemes, and money laundering: http://www.theglobeandmail.com/real-estate/vancouver/out-of-... http://www.theglobeandmail.com/real-estate/vancouver/canadia... http://news.nationalpost.com/news/canada/chinese-police-run-...
"but the title is clickbait" Almost every Bloomberg title is clickbait [1]. Probably Bloomberg should be flagged for title correction. Perhaps: "Canadian government offering relocation to homeowners from some declining villages" Financial news readers may enjoy Reuters, which has far less irritatingly misleading titles. [1] source: Bloomberg.com
Earlier quoted context omitted.
> I'm surprised somebody hasn't started a software company in a place like this. Maybe not the very out of the way island featured in the article but similar ones. Rent must be dirt cheap. I wonder how big a company (or collective of freelancers?) it would take to save a town like that. It's tough. This isn't "the suburbs", this is way way off the beaten path. Six-and-a-half hours one way, by car, to St Johns, which…
Great points! Thanks :) I didn't look and didn't realize it was that far from St Johns (I'm in Ottawa and my east coast knowledge is laughably poor).
What, no Newfie jokes? On a more serious note: there's a tectonic shift going on in the US too, it's just not as stark. Young'uns are moving to the cities enmasse, resulting in skyrocketing rents in places like SF, Seattle. The old American Dream of having a McMansion out in the 'burbs has largely died out. Now people prefer the urban areas.
Popular public opinion but not actually true: http://web.archive.org/web/20160327033112/http://blogs.wsj.c...
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The article is about the government wanting to close towns because it is too expensive to provide services that they must to citizens that live there. It's not about people moving from small towns to cities because they want different types of jobs.
You don't think those phenomena might be related?
> While she’s optimistic that the country can build a new economic base, she said it’ll happen only if Canadians “stop over-relying on the extraction of resources or, even worse, selling off our land.” This Canadian seems to believe that, in some real or legal sense, the land belongs to her and Canadians in general. But "Canadian land" truly belongs to anyone in the global real estate market with sufficient cash. Thi…
What, no Newfie jokes? On a more serious note: there's a tectonic shift going on in the US too, it's just not as stark. Young'uns are moving to the cities enmasse, resulting in skyrocketing rents in places like SF, Seattle. The old American Dream of having a McMansion out in the 'burbs has largely died out. Now people prefer the urban areas.
> Now people prefer the urban areas. That's not new. What also isn't new is that when those same people get married and have kids, they'll be looking to move out of that urban environment. And all of that is completely unrelated to what the article is about.
TL;DR — Fishing villages [...] sent into a tailspin by a fishery collapse, oil-price slump and mounting debt that left it with Canada’s most severe fiscal and demographic crisis. The provincial government now is pushing to close places like Little Bay Islands altogether rather than service them, offering [...] at least C$250,000 ($189,000) each to leave—and spurring a bitter, three-year fight over whether to cash out…
What about social services? We have public health care in Canada and seniors are the most expensive. Plus, with no industry where are they going to get medication and food? And it's not all seniors, the person in the article isn't leaving because he scared he won't be able to find work elsewhere.
So they also have a bunch of non-seniors they have to support as well. And no industry for them to participate in, whereas elsewhere in the province they could contribute to the economy and pay taxes. Instead of just being an economic drain on the state.
There is a reason the province decided it would be more economical to offer them money to leave than paying for the services for them to stay.
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If the point of the scheme is that the government wants to stop providing services to Nowheresville, then they basically have four options: 1. status quo 2. pay 85 people to relocate, keep paying to provide services for 10 people 3. pay 95 people to relocate; 10 of them really strongly do not want to relocate, but force them to do so anyway 4. pay 85 people to relocate, leave ten people to the wolves None of these ar…
If #4 was actually the option on the table, then perhaps the nay-sayers would have changed their mind, and all would have opted to leave.