Holy Hot Tamale! by Richard Crenian
Holy Hot Tamale!
Wow, wow, wow is all I can say. We are supposed to be in a down time yet Ford goes and does this………..Ford Motor Car of Canada sold 27,408 vehicles in June which was a 25-per-cent jump on sales in June, 2008, and the first year-over-year sales increase it has posted in 2009!
The engine that could……..choo choo……….Ford never quit. Amazing, yet true! See what happens when one doesn’t give up? Think of all those people that quit advertising, quit working, and just plain gave up because the media told them that the market was bad. Good for Ford.
Today in the USA they talked about a recovery that is, a jobless recovery. Wow, a little bit of a paradox to be sure. I don’t understand it but it becomes a recovery and if it works for us call it what you will?
Here is a story on Toronto’s house markets as of May. (Link for the CTV site is below.)
It states, “May was the strongest month ever for sales of luxury homes in the Greater Toronto Area, according to RE/MAX Ontario-Atlantic Canada.
In that month, 273 homes were sold for more than $1 million each, compared to 258 sold in the same month one year earlier — a difference of 6 per cent.
“What we are seeing is confidence is returning to the marketplace, and there are some market dynamics that are in place with consumers returning to this level of the marketplace,” said Christine Martysiewicz, of RE/MAX Ontario-Atlantic.
“There is a shortage of inventory and there is pent-up demand, so that is all a sign of the current market conditions out there.”
The previous record for luxury home sales in the GTA was set in May 2007, when 266 homes were sold for over $1 million.
The new record marks the highest number of luxury home sales in the history of the Toronto Real Estate Board.
One of the homes sold last month was located on the city’s prestigious Bridle Path and was priced at over $13 million. It was the first sale of a home for over $10 million in more than a year, in the GTA.”
http://toronto.ctv.ca/servlet/an/local/CTVNews/20090612/toronto_home_sales_090612/20090612?hub=TorontoHome
Holy hot Tamale indeed! Call Howard for his thoughts on investing in Canada at 403 630 4544 or at howardmanley@shaw.ca, or Darwin at darwin@redevproperties.com.
http://investmentsincanada.blogspot.com/2009/07/holy-hot-tamale-by-richard-crenian.html
reviewed by Moishe Alexander, CFC CEO