Fancy Apartment Rentals for Paris Olympics See Poor Demand and Price Cuts
Locals who’d hoped to turn a big profit by renting out their posh apartments are now slashing prices by 30%-60%.
Oct 13, 2016
BNN's Daily Chase: Vancouver housing market’s 'final hurrah,' lithium's potential bust
By Andrew Bell
To single out a particular group and say we can't make a joke about them is almost a form of prejudice and it's kind of patronizing -- Sacha Baron Cohen
The English actor and comedian was born on this day in 1971. Baron Cohen’s fictional characters include Ali G, Borat Sagdiyev, Brüno Gehard and Admiral General Aladeen. His often bitterly satirical work has lampooned antisemitism and gay clichés.
He is said to worship comic Peter Sellers (1925-1980), who also produced dark content.
Vancouver home prices
Baron Cohen’s comedy can be shocking: Canada’s housing market is still trying to adjust to Ottawa’s aggressive moves to cool prices, at the risk of a jarring drop in prices. Our Top Line on BNN today is Royal LePage’s prediction that the stratospheric Greater Vancouver may have seen its "final hurrah" in terms of price jumps.
At 12:20 p.m. ET, we'll be joined by RBC Economist Robert Hogue, who warns that “owning a single-detached home in Vancouver is unlikely to ever become affordable by Canadian standards."
Bracing for a lithium bust
Investors in lithium stocks, excited by starry-eyed forecasts of endless demand for the battery material, may be in for a traumatic letdown themselves.
“If you want to make an investment in the space, then you need to look to companies that are able to play in the lowest quartiles of cost,” says Jon Hykawy, president of Stormcrow Capital, a physicist who has worked on rechargeable batteries, fuel cells and both wind and solar power. He joins us at 11:30 a.m. ET.
Among his favourites: Lithium Americas (LAC.TO), which is working with industry giant Sociedad Química y Minera de Chile (SQM) to develop a brine deposit in Argentina.
Aritzia results
Newly-listed fashion retailer Aritzia (ATZ.TO) reported a 16.9-per-cent jump in same-store sales in its latest quarter. At 10:10 a.m. ET, we’ll take a look at the results with Bruce Winder, partner at the Retail Advisors Network.
Finally, the Internet is said to be abuzz (is it ever anything else?) over a supposed video of a ghost ship on Lake Superior.
We’ll try to find out what it was carrying and get the captain on Commodities.
Every morning Commodities host Andrew Bell writes a ‘chase note’ to BNN's editorial staff listing the stories and events that will be in the spotlight that day. Have it delivered to your inbox before the trading day begins by heading to www.bnn.ca/subscribe
