A friend asked me who or what is to “blame” for house appreciation in Victoria? There is no one issue. Here are ten case facts making home ownership in Victoria, BC, a desirable asset class.
Low interest rates
No capital gains tax on principal residence
Cultural values around prioritizing home ownership
Desirable climate and geography (they aren't building anymore land)
A lack of residential construction between the mid 1990’s to the mid 2000’s
A lack of high density zoning and construction that reflects the regional growth rate
Inadequate government investment in purpose built rental housing
Retained equity and home equity lines of credit (HELOC) allowing older home owners to buy a second property or fund their children’s first home purchase
Population growth as individuals migrate to Victoria from other areas across Canada and various foreign countries
A long history of stable appreciation as an asset class that has outpaced inflation and fixed income investments
And now for the Thursday morning news drop
This Bull Market Hasn’t Always Been Easy Every new generation of investors has to learn the same lessons as the previous generation. But experience alone isn’t always enough to make you a successful investor. Experienced investors panic all the time. Who do you think holds all of the money that actually moves the markets? They also miss big trends, hold onto legacy positions for too long, become overconfident in their assertions and can’t see how the world is changing around them. (A Wealth of Common Sense)
Everyone Is Talking About Data Science. Here’s How J.P. Morgan Is Putting It Into Practice. J.P. Morgan Asset Management is building machine learning and predictive analytics tools for its fundamental portfolio managers. Just don’t call them quants. (Institutional Investor)
Canadian Multiculturalism: A Work in Progress As we mark fifty years since the adoption of Canada’s federal multiculturalism policy, human rights advocate Amira Elghawaby celebrates its merits and reflects on the work that is yet to be done when it comes to inclusion, acceptance, and fighting systemic racism in our country (Walrus)
Without Dorsey, Can Twitter Finally Flourish? There was only one little idea that there was Jack’s. But today, you look at it, and even in his resignation letter, he is the “inventor.” One of the greatest quotes I ever heard about him was someone said, “The greatest product that Jack Dorsey ever made was Jack Dorsey.” (Slate)
The Dark Side of 15-Minute Grocery Delivery: Mini-warehouses dubbed “dark stores” are quietly taking over urban retail space. Left unregulated, the insatiable demand for faster delivery will only hasten the erosion of community life. (Bloomberg)
Can Apple Take Down the World’s Most Notorious Spyware Company? Pegasus was used to target Al Arab editor Abdulaziz Alkami eight years ago. The same spyware was also employed to surveil Emirati human rights advocate Ahmed Mansoor and Saudi-American dissident Jamal Khashoggi. On Friday reports even emerged that at least nine State Department officials working on East Africa-related issues were hacked using Pegasus over the past few months, representing the widest known hacks of American officials using NSO technology to date. (Slate)
Want to help animals? Here’s where to donate your money. If you care about animals and want to reduce their suffering, but aren’t sure exactly how, Animal Charity Evaluators (ACE) is an organization that might be able to help. The California-based nonprofit puts out an annual guide for recommended animal charities, and it just released its list for this year. (Vox)
Well I Guess This Is Growing Up Blink-182’s Mark Hoppus got cancer—and then accidentally shared his diagnosis with the public over social media. Turns out getting sick renewed his faith, healed his old friendships, and reminded him what makes life worth living. (GQ)
The story of the Beatles rooftop concert at the heart of ‘Get Back’ The rooftop show and the associated “Let It Be” album are at the heart of Peter Jackson’s three-part documentary series “Get Back,” which has earned a strong critical reception and catapulted the album into the UK Top 40, more than a half century after its release.(Washington Post)