Vernon economy going from bad to worse

[wanderingman]

I moved from Vancouver to lake country for 3 years, spent plenty of time in Vernon, Kelowna. I'll say this, things are definitely not getting better out there. I just left 6 months ago and when I did, our upscale development had roughly 35% of the properties were for sale and not selling.
Kids getting out of technical school I knew either couldn't find work or were hired by contractors but never got paying jobs. I see a lot of attempts by media and business development to convince the public that everything is fine, but it aint. Maybe if you're a 30 year veteran with some crown corp you think things are great cause you're in a bubble.
Just look at the empty shops, for lease signs, etc. First step to recovery is to admit there's a problem, something people resist with every fibre of their being.

BS Things are just great in Vernon. take your negativity away as your dead wrong. Vernon is super vibrant and a great place to raise family etc.Tons of employment.there is a few empty shops as there always is and always will be.
I know of no so called upscale development in Vernon that is in any trouble at all.whats the name of this so called upscale
development

[jasond_71]

The previous poster said he lived in Lake Country. He might be refering to "The Lakes", not sure. In Vernon probably only "The Rise" and the Taverstock development at "Adventure Bay" may be struggling, however the Adventure Bay development has deep pockets. It has been there since the mid 90's.

Again I think people are arguing different things. Vernon is a retirement community. Developments that attract retired people like Predator, Turtle Mountain etc will probably always do well. My only argument is that Walmart, Home Depot etc does not mean the Vernon economy is thriving. I don't know how you can argue with the economic facts that employment and GDP have both plumetted in Vernon over the last 10 years.

No one is arguing that big box stores and retirement developments are thriving and that is fine if people are ok with young families moving to Alberta and up North to find employment. You can't argue that student enrollment has plummeted in Vernon while the overall population has increased. This means old people moving in, young people moving out. I'm not saying that is right or wrong, just that it is happening.

[wanderingman]

The previous poster said he lived in Lake Country. He might be refering to "The Lakes", not sure. In Vernon probably only "The Rise" and the Taverstock development at "Adventure Bay" may be struggling, however the Adventure Bay development has deep pockets. It has been there since the mid 90's.

Again I think people are arguing different things. Vernon is a retirement community. Developments that attract retired people like Predator, Turtle Mountain etc will probably always do well. My only argument is that Walmart, Home Depot etc does not mean the Vernon economy is thriving. I don't know how you can argue with the economic facts that employment and GDP have both plumetted in Vernon over the last 10 years.

No one is arguing that big box stores and retirement developments are thriving and that is fine if people are ok with young families moving to Alberta and up North to find employment. You can't argue that student enrollment has plummeted in Vernon while the overall population has increased. This means old people moving in, young people moving out. I'm not saying that is right or wrong, just that it is happening.

There is two certaintys in Vernon BC one being Taverstock development at "Adventure Bay is not even near struggeling,not even close and Vernon,s economy is doing just great
The rise is for sure and has been for several years for several reason
1)the women whom owned the property should have NEVER ever been involved(huge mistake) HUGE
2)very very over priced at time of first sales
3) very under financed
4)Very very over built in its early stages, too many venues on the go and not anywhere near the money to see
any of them through
5) pie in the sky world class golf course endorsed by Fred couples (Freadie who)? as in who cares

[Joe Public]

The problem with Vernon, and most of BC for that matter, is that the working middle class has been hammered by both the BC and the federal right wing governments. Good family supporting jobs are reduced, wage increases are down or nonexistent, hidden taxes and government fees are way up, inflation is way up, and the result is that our disposable income has been eliminated.

It is the disposable income of the working middle class that drives the economic engine of small businesses, and as a result, small businesses are suffering and our economy is floundering.

Both the federal and provincial governments spend our tax dollars to reduce corporate taxes, but corporations are designed to reduce jobs, not increase them. Both claim to have job creation programs but look across the country, more jobs disappearing, family supporting incomes reducing, or complete companies leaving.

This is the new reality folks. Get used to it. There are no more mega projects that will solve our economic problems. LNG and pipelines will use their own TFW labourers and the rich will get richer. There is no economic recovery coming. This is it. Reduce your expenses, downsize, get out of debt and learn practical skills like growing your own food, or hunting, or fishing.

And most of all, stop consuming.

[Hassel99]

but corporations are designed to reduce jobs, not increase them

Could not be any more wrong than this.

[Thinktank]

according to garth turner of http://www.greaterfool.ca/
it's going to get worse. If house prices go down we'll be in even bigger trouble than we are now.

Now, what are we to make of this? Canadian housing economist Will Dunning says the market has peaked, and is turning. Sales crested last autumn and the sales-to-listings ratio is eroding. As inventory drops, prices increase – entirely consistent with the late stage of a market now poised for correction.

As for the Yanks, they just watch us with bemusement as we blow the world’s biggest housing bubble. Canada’s middle class is house rich, and saturated in debt as a result.

[Hassel99]

Read Garths articles from 2008 on the website you just linked, you may note he says the same things in 2014 that he did in 2008. None of it has happened. He is the worlds biggest internet troll.

[Hmmm]

Read Garths articles from 2008 on the website you just linked, you may note he says the same things in 2014 that he did in 2008. None of it has happened. He is the worlds biggest internet troll.

Next to TT that is.

[Glacier]

Talking Donkey didn't close , they moved.

Nope, they closed.

[Hassel99]

to be fair, they moved then closed.

[wanderingman]

to be fair, they moved then closed.

the article I read a few months ago is there discontinuing the TD coffee house and focusing on the used clothes business instead.The rep said they were busy but most of help is volunteer and felt that the money generated from the TD coffee house was not enough

[Dizzy1]

Nope, they closed.

Your post has quite the spin there, ever think of getting into politics? ;)

[image999]

Not to worry people: we’ve had and do have Deputy Mayor Juliette Cunningham with her French Degree running the show.

[bob vernon]

"We want the government to get out of the way and let business flourish."
"Government has no business in business."
"The economy is going from bad to worse."
"Why doesn't the government do something. They're not doing their job."

[wanderingman]

Not to worry people: we’ve had and do have Deputy Mayor Juliette Cunningham with her French Degree running the show.

yes can one just imagine Tolko or Kal tire or BC gas or any business being run by the clowns that we currently have on Vernon city council