The experts are promulgating many esoteric ways to determine the financial condition of the economy. Here are some of my observations of Vancouver to determine that the Canadian economy is unhealthy and probably going to get worse despite what some may believe.
- The public transports such as the transit and skytrain systems are experiencing increased traffic while car traffic is considerably reduced. People are making the effort to save corners on transport.
- Restaurant reservations are no longer required even for the hotter spots. Meanwhile supermarkets are experiencing increased traffic. People are finding ways to cut back on spending unnecessarily outside. I have seen people holding smaller wedding during off-peak periods to try and save costs.
- No lineups for golf, spas and gyms. People are cutting back on luxurious pasttimes.
- Newspapers and magazines are featuring merchandizes with all sort of discounts and promotions. And if you pay attention, you will realize that the discounts and promotions are getting better with time.
- Real estate market is almost at a standstill even though the prices are still holding up. Even the Downtown properties in prime locations are on the market for months with literally no offers. Many home constructions have been suspended because of escalating construction costs, less loan availiability as well as a dwindling market. Other industries also affected include the mortgage, construction and housework.
- Government has decided to cut the interest rates half a percent this month and has indicated that they will cut again soon. What better indication is there than the government's actions?
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