Friday morning news drop
Vancouver Island and Victoria Q4 Building Permits Construction activity slowed somewhat during the fourth quarter of 2020 though remaining at a relatively high level. Total building permits issued during the fourth quarter of 2020 slipped four per cent to $652.3 million following the strong rebound in the prior quarter coming off the pandemic shock-driven second quarter. To read the full report, click here. (VICA)
More investors have moved into Greater Victoria's apartment market Greater Victoria and the Island are no longer well-kept secrets for Canadian real estate investors, with numbers released this week by Colliers International showing this region is a bright light on the radar of institutional investors and real estate investment trusts. (Times Colonist)
Where Have All the Houses Gone? The inventory of homes for sale is startlingly low. The pandemic is part of the reason, but it’s not the whole story. (The Upshot)
What if it Doesn’t End Badly? The past decade has been one of endless prosperity. At least in risk assets. Since 2011, the S&P 500 has gained nearly 300%. (Irrelevant Investor)
Dot-Com Survivors Have Wisdom for the GameStop Crowd In October 1999, five months before the internet bubble burst, I wrote a cover story for Fortune magazine titled “Trader Nation.” It was about how middle-class Americans were embracing the stock market, with some quitting their jobs to become day traders. I thought it would be worth talking to the same people to glean lessons about how living through a stock bubble can affect investors for the rest of their lives. (Bloomberg)
Three r/WallStreetBets GameStop investors explain why they did it, what went wrong, and how much they made There’s no one story of the frenzy of the last few weeks. Some people invested a few bucks as a joke, while others poured in life savings and maxed out credit cards. Some invested after seeing a single Tweet, while others had meticulously followed, analyzed and posted about GameStop for a year. Some thought the whole thing was a joke, while others saw themselves as heroes of an Oscar-winning Wall Street revenge movie. (Business of Business)
Why Texas Broke: The Crisis That Sank the State Has No Easy Fix When the cold spell plunged the energy powerhouse into darkness, Texans found profound flaws in their infrastructure. Meaningful change may be a long time coming. (Businessweek)
Born to Run: U.S cannabis enters the sweet spot We know four primary metrics support the U.S cannabis growth story, although the fundamentals aren’t as forgiving as they were last year (Cannabis Confidential)
Britney Spears Was Never in Control Why did I ever believe a teen girl could hold all the power? (The Cut)
