Economy Thread

[MolsonExport]

Originally Posted by jammer139

the "Landlord" has purchased Millar Berry Farm.


7390 Longwoods Road
type Speculative development land
price $4,200,000
seller Millar Berry Farms Inc.
buyer Farhi Farming Corp.

I can't stand seeing Farhi's name everywhere. Even in Woodstock cornfields. And that stupid hat that he wears all the time.

[jammer139]

Interesting move by Start.ca to purchase Entegrus fiber network in St. Thomas.


https://londonincmagazine.ca/2022/06/02/start-ca-st-thomas-fibre/


Bell contractor Aecon has been busy in Carling Heights area of London installing Fiber this spring.

[Djeffery]

Ledcor has been installing fiber in Byron and also up in the Killarney neighbourhood in the northeast as well. We had it installed a month or so ago, and had a note left in our mailbox to ask if we wanted it hooked up to the house while they were running it down the street. Duh, of course. I have no idea when we might be able to sign up for better service though.

[MolsonExport]

Three years ago, they were supposed to install Fiber on our circle (signs went up, squares marked with orange paint), but then it never happened.

[inimrepus]

Start might need to step up their Fibre game. Bell has been installing Fibre and offering 3Gb/s plans for less than Start's 1Gb/s plan.

[jammer139]

Bostwick Community Centre gets new name under a sponsorship deal



- https://blackburnnews.com/london/london-...ommunity-centre-gets-new-name-1-5m-deal/

[jammer139]

Globe article on rising construction costs and possible cancellation of projects. With rising interest rates the financing costs are also going to impact developer plans.



https://www.theglobeandmail.com/business...ndo-project-cancellations-as-costs-rise/

[Djeffery]

CTV News reporting that London is being looked at among several locations for an investment by Boeing. No information on what extent that investment might involve,

[kwoldtimer]

Originally Posted by Djeffery

CTV News reporting that London is being looked at among several locations for an investment by Boeing. No information on what extent that investment might involve,

"Several locations" in Canada, or world-wide?

[Djeffery]

Originally Posted by kwoldtimer

"Several locations" in Canada, or world-wide?

Canada. I'll post the story when they do to their site, if someone else doesn't first. Not a lot to it at this point.

[Djeffery]

https://london.ctvnews.ca/federal-govern...-site-for-investment-by-boeing-1.6029916

[Djeffery]

As for the other story on that page, about EV vehicles, I did see stories elsewhere recently that Tesla is rumoured to be looking at a Canadian location for a plant, so naturally the timing of St Thomas putting together that large parcel of land on Highbury Ave raised eyebrows.

[jammer139]

Story about store front vandalism and shoplyting plaguing downtown businesses.


https://www.cbc.ca/news/canada/london/do...h-assaults-and-smashed-windows-1.6560512


Those who can afford it may want to seriously look into installing steel security shutters across the entire storefront for after hour security. Also HQ video cameras inside and outside with night vision to capture evidence of those committing the crimes will help with arrests and convictions.


If these crimes are not prosecuted the downtown will fall into further decay.

[ssiguy]

It's very sad about all these break-in especially downtown. Until the city get's REALLY serious about getting a strong police presence and taxing all the empty store fronts, it will continue.

What's more is that this also inhibits people from potentially moving downtown and population increase is essential for the long-term viability of the Core.

[jammer139]

The change to the office workforce culture caused by Covid and WFH policy's is likely permanent going forward. The impact of this on downtown businesses that catered to office workers and public transit systems designed to move office commuters in and out of downtown will be felt for years to come. Those who think everything will go back to pre Covid times are mistaken.


https://torontosun.com/opinion/columnist...lture-have-been-forever-changed-by-covid

[jammer139]

File this one under there ain't no cure for stupid file.



https://www.cbc.ca/news/canada/london/london-ontario-cricket-factory-1.6562083

[Djeffery]

A couple recent closures. JYSK closed their store in North London last week. No word yet on a replacement retailer for that space.

Movati Athletic announced the immediate closure of their 2 London fitness clubs on Wonderland North and South, as of tomorrow. No other clubs in their chain are affected. I was pretty close to a day 1'er at the North club and was at the South club the night it opened as the first 24 hour club in town, as I recall, back when they were the Athletic Club. They were good clubs to belong to as someone not already in shape, definitely what you would call a "judgement free" zone. At least, on the main floor lol. The free weight zone downstairs was a different story but I think a lot of clubs are like that anyway. Will be interesting to see if another company picks up these locations.

[jammer139]

Interesting article on the current state of home building market.


https://londonincmagazine.ca/2022/08/31/homebuilding-confidence-wanes/

[MolsonExport]

all this for only $150,000!


https://londonincmagazine.ca/2022/08/31/homebuilding-confidence-wanes/

[ericmacm]

Originally Posted by jammer139

Interesting article on the current state of home building market.


https://londonincmagazine.ca/2022/08/31/homebuilding-confidence-wanes/

Of course a realtor is going to say that it is prudent to make a move in the next few months and warn about supply being tight.

I also really hate that immigration and international students are always being used by real estate as the main reasons for "high real estate demand". There are just over 600k international students in the country as of last year, and Canada has consistently only taken in anywhere between 0.5% and 1.5% of the population via immigration per year since the 1960s. I highly doubt 450,000 additional people per year plus a moderately increasing international student base (all spread out across the country) have much to do with meteoric housing price increases in a country of almost 38 million people as many like to say they do.