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The Bank of Canada's lack of movement on prime is the best action or "non-action" to take at this time.  Mark Carney's most important comment was:  "there are too many unknowns".  World markets are struggling and we are greatly affected by their ability to do business with us.  Especially when it comes to selling our goods.  The value of our dollar determines if our customers can buy from us.  Our biggest trading partner to the south is expected to flounder for well into 2012.  Shifting our business to other markets takes time.  It will take a good act of balancing growth and maintaining what we have.

This translates into interest rates will remain at their lowest ever and may even drop further.  Currently variable rate:  prime minus .75% = 2.25% or 5-year fixed @ 3.59%

Those who have their feet firmly planted on the ground (good credit, proven, reliable income and some savings) and know what they want to do can take advantage.  Home...

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This Top 10 is coming from Shanghai China as I lead the largest ever BC Lumber trade mission. Altogether we have 38 attendees including CEO's from Canfor, West Fraser, Conifex, Interex (representing Carrier and Dunkley), Tolko, Hampton and Interfor.

This mission represents phase 3 of our plan to open the Chinese market to BC lumber. Phase 1 was building code development and product knowledge. Phase 2 included wood frame construction training and building a distribution network.

Phase 3 starts now and is about marketing to large developers that are capable of using significant volumes of our lumber. That brings me to the week’s Top 10, the inside story on some of the 40 developers we are meeting with and I'm sure you'll be impressed. For translation purposes 100 square meters is about the size of a newly constructed apartment in China and is approximately 1,000 square feet.

Have a great week! Pat Bell - http://www.patbellmla.bc.ca

1)     Vanke Co. is China’s...

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Friday was not a great day for our forest industry as the US Softwood Lumber Coalition launched another challenge targeting BC’s Industry. It seems like every time we sign off on a deal they just can’t live with it. They have very old and inefficient mills in much of the US and can’t compete with the high quality mills here in BC. In my view we should be working together to expand the use of wood into China, India and into nontraditional uses in North America.

Other than that pretty good numbers here in BC so let’s stay positive!

Have a great week! Pat Bell - http://www.patbellmla.bc.ca/

1.   My Colleague Steve Thomson (Minister of Agriculture and Lands) is off to China along the Federal Agriculture Minister, Alberta’s Agriculture Minister and representatives from the BC Cattlemen’s Association (including local ranchers Mark Grafton and Roland Bauman) to try and get greater access to the Chinese market. I have had our Forestry folks working with...

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As of today the single family homes listed in Prince George city limits is at 430 (on MLS®) which is quiet a bit less than normal. So tracking the numbers if listings continue to stay low the market may move from a slight buyers market to a sellers in the next while.


Best regards


Dean Birks

 


Royal LePage Prince George

Phone (Direct): 250-612-1709


Prince George Real Estate


 

Oh, by the way. I'm never too busy for your referrals!

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