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Concord Pacific buys Molson Brewery

Concord Pacific Buys Molson Brewery

Steve Saretsky -

Concord Pacific to Develop Molson Canadian Brewery

The next big real estate development in Vancouver is coming. The Molson Canadian Brewery located just before the Burrard Street bridge, which was sold to a mystery buyer back in November, has now been revealed as Concord Pacific and it will be converted into a sea view apartment development. Although the site is currently zoned for industrial use I imagine when there’s that much money involved it won’t take much to sway Gregor Roberts and the rest of the gang to convert it into residential zoning. It certainly is prime real estate and would make for some spectacular views. Would you want to live there?

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The Canadian Economy

Steve Saretsky -

Happy Monday Morning! We got a string of new data this past week confirming inflation in consumer goods, and housing are proving to be more than transitory. Canada’s consumer price index continued to drift higher with prices hitting an 18 year high, up 4.7% from last October. The recent floods in BC...

Steve Saretsky -

The calls for impending interest rate hikes continues. CIBC’s chief economist, Benjamin Tal, was out recently suggesting the Bank of Canada could hike its benchmark interest rate at least six times beginning in early 2022. “I think there is a risk of getting into the market at today’s rates,” noted Tal....

Steve Saretsky -

The BC Government announced it is looking at several cooling measures for the housing market in 2022. They have highlighted two measures. The first is an end to the blind bidding process, and the other is a mandatory “cooling off period” which will allow any buyer a 7 day recession...

Steve Saretsky -

The Bank of Canada continues to slowly drain liquidity after flooding the system with a firehose of cash during the pandemic. Bank of Canada governor Tiff Macklem announced the end of Canada’s QE program (also known as money printing). Furthermore, in Macklems words, “We expect to begin increasing our policy...

Steve Saretsky -

Consumer price inflation ripped higher in September, surging 4.4% year-over-year, the fastest pace of price increases in 18 years. Let’s discuss this further. We have an inflation problem and the Bank of Canada remains of the view that inflation will be transitory. Although they really can’t say otherwise, for if...

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The Saretsky Report. December 2022