How Will The U.S. Housing Crisis Effect Canada?
BY STEFAN HYROSS
With the recent housing crisis in the United States, which has now put the country into a recession, many here in Canada are wondering if and how it will effect us. As the old saying goes, when America sneezes Canada gets a cold. As of now in the United States “Market conditions are the worst anyone in this industry can ever remember. I don’t think anyone has a recollection of a total disappearance in liquidity…There are billion of dollars worth of assets out there for which there is just no market.” Alain Grisay, chief executive officer of London-based F&C Asset Management Plc; Bloomberg News.
These sub-prime mortgages, which have been the cause of most the financial woes, have affected many, if not all, Canadian financial institutions. These bad debts were rolled up into investment packages and sold around the world. As a result Canadian banks have lost billions of dollars. And banks are not the only losers here. Just recently Air Transat has announced that they to will lose a substantial amount of money investing into these hedge funds. It is yet to be seen how many other companies will also be affected.
All of this loss of money has affected the job market in the United States as well. The U.S. Labour department has released its job numbers for February and the numbers are down. They report that 63,000 jobs were lost in February which is the biggest loss in five years. This is in addition to the 22,000 jobs that were lost in January. And in the construction industry 361,000 jobs have been lost since September of 2006 following the overall decline of the American real estate market.
For the same time period the Canadian jobs numbers look quite different. Statistics Canada have just released their job numbers and for February of 2008 employment hit a new record or 63.9% with 43,000 jobs being created. In the past twelve months more than three hundred thousand jobs were created and in the all important construction industry 44,000 new jobs were added. This could be a sign that Canada will be able to weather the storm better than our neighbours to the south or more than likely that Canada has yet to experience the effects of the mortgage meltdown.
Home buyers in Ontario, for example, have not slowed down in their demand for real estate. Mortgage rates are still at historical lows and monthly mortgage payments have been made cheaper by the introduction of mortgages that are amortized to 30, 40 or even 50 years.
Multiple offers on homes are still common and some real estate experts have warned that buyers should not be lulled into a false sense of security by how well the Canadian real estate market is doing. When faced with paying more for a home many buyers will rationalize the purchase with some commonly held myths such as real estate, unlike stocks, is not risky. Or that real estate will always appreciate in value. Or maybe that they have to live somewhere anyway and it is better than renting. The wait and see approach, however, will be the only way to know for sure as to what effect the U.S. economy will have on Canada.
pleased give an information how can i work in canada for temporary residents. Iam a civil engr. well experience in horizontal & vertical construction.
thanks & more power
dave
i’m interested to work in canada to have and to get experience, and of course during staying in canada i want to have an extra work like part time.i’m fully hardworker……thank you
i’m interested to work in canada i have a experienced fofklift operator…before i’m working in taiwan..thank you
i’m computer engr. i been in taiwan for 2 years of working. and i want to in cadana for my 2nd job.
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RESUME
Kiran S Gujar House no.1947.
Sainath Chawl.
Ramnagar ( Digha)
Thane Belapur Road
Near Mukund Company
Navi Mumbai.-400 708
È: 09324855124
C a r e e r O b j e c t i v e s :
Seeking a position where I can use all my efforts to contribute entirely to the well- being of the organization and to make sure that my employer is always contented with my work and ability.
P e r s o n a l D e t a i l s :
Æ Date of Birth : 01th June.1986.
Æ Sex : Male.
Æ Marital Status : Single.
Æ Nationality : Indian.
Æ Hobbies : Read newspaper, playing chess.
Æ Languages Known : Marathi, Hindi, and English.
Æ Email ID : ksgujar@ymail.com
ksgujar@gmail.com
A c a d e m i c C a r e e r :
Ø Passed .B.A. Meenalben Mehata College, Pachgani from Shivaji University, Kolhapur In The Year 2007-08.
Ø Passed H.S.C. from Kantaben Mehata College, Pachgani in Pune Board in the year 2003-04
Ø Passed S.S.C. New English School, Jawli from Pune Board in The year 2001-2002.
Ø Appearing M.A. from Shivaji University, Kolhapur.
O t h e r Q u a l i f i c a t i o n :
► SAP- R3 M.M.Module.
► Basic knowledge of Computers Sap erp stores module.
► MS Office, Internet Etc.
► DATA entry operator Computer exam passed with 80% + marks.
S t r e n g t h :
¤ Able to Work under pressure of Deadlines.
¤ Willingness to Learn.
¤ Work efficiently with diverse groups of people.
¤ Ambitious, Hardworking and Committed to Excellence.
¤ Adaptability to various Environments.
W o r k E x p e r i e n c e :
TENGL (Larsen & Toubro Ltd.Powai,)
Working experience – 3 years.
Store Assistant
Currently working in TENGL (Larsen & Toubro)
TENGL (a wholly owned subsidiary of L&T) is the only company in India for manufacturing Undercarriages for Earth moving Machines.It also manufactures Apron conveyors, material handling conveyors, and others.
Present Job profile
Presently working as an Stores Assistant since Aug2005-2008, in TENGL (Tractor Engineers LTD), a tractor division of L&T, LARSEN & TOUBRO LIMITED
Work includes STO & invoicing, customer related problem, Initiator queries, goods issue and goods received.
· Doing different types of goods movement like using transactions Migo, mb l b, mb la, mb 3l.
· Doing delivery to customer using transaction VF01
· I have also helped purchasing people to solve the problems related scheduling agreement, purchase order.
· I have also solved problems of vendors regarding their challans.
· I am doing work for reducing negative WIP.
· I also work in departments like project and maintenance.
· I am doing STO for plant to plant with excise invoice and also print it
· Working in 1 year Experience in Maintenance & Project department .
Summer Training :
50 days summer training In Mala’s Fruit Products, Panchgani.
Project Report : A Study of Customer Satisfaction And Customer Complaints.
E-MAIL ADDRESS- : ksgujar@ymail.com
Mobile No : 09870035596 / 9324855124
Date :
Place :
YOURS FAITHFULLY
[KIRAN SARJERAO GUJAR]
we r ajent for work permit and jobs provided from pakistan. how can we get attachments with ur office ? thanks ms rizwana
i been in taiwan for 3.6 years as a caretaker and householdhelper..i want to work in canada to share my abilities..thank you