Comments on: Lake Placid will miss City of Saskatoon’s payment deadline http://teamfisher.com/lake-placid-will-miss-city-of-saskatoons-payment-deadline/ We're bringing Saskatoon real estate to life Sun, 20 May 2012 19:45:13 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Lake Placid back in the River Landing game | TeamFisher.com http://teamfisher.com/lake-placid-will-miss-city-of-saskatoons-payment-deadline/#comment-3382 Lake Placid back in the River Landing game | TeamFisher.com Tue, 15 Jun 2010 15:55:07 +0000 http://www.teamfisher.com/?p=5217#comment-3382 [...] Lake Placid had previously purchased the land for $4.8 million but lost it to the city when they failed to meet payment deadlines in October of last [...] [...] Lake Placid had previously purchased the land for $4.8 million but lost it to the city when they failed to meet payment deadlines in October of last [...]

]]> By: Value of Parcel Y in Saskatoon doubles since 2006 | Saskatoon Real Estate Resource Centre http://teamfisher.com/lake-placid-will-miss-city-of-saskatoons-payment-deadline/#comment-3381 Value of Parcel Y in Saskatoon doubles since 2006 | Saskatoon Real Estate Resource Centre Sat, 10 Apr 2010 15:40:29 +0000 http://www.teamfisher.com/?p=5217#comment-3381 [...] was purchased by Lake Placid Developments for $4.8 million. That deal fell apart when Lake Placid failed to pay the purchase price when it was due on October 30 of last [...] [...] was purchased by Lake Placid Developments for $4.8 million. That deal fell apart when Lake Placid failed to pay the purchase price when it was due on October 30 of last [...]

]]> By: River Landing fat lady refuses to sing | Saskatoon Real Estate Resource Centre http://teamfisher.com/lake-placid-will-miss-city-of-saskatoons-payment-deadline/#comment-3380 River Landing fat lady refuses to sing | Saskatoon Real Estate Resource Centre Sat, 03 Apr 2010 02:40:10 +0000 http://www.teamfisher.com/?p=5217#comment-3380 [...] an upscale hotel and condominium development. That deal died on October 30 of last year when the company failed to meet the payment deadline for the land following a number of extensions granted by the city. Lake Placid ultimately faced challenges in [...] [...] an upscale hotel and condominium development. That deal died on October 30 of last year when the company failed to meet the payment deadline for the land following a number of extensions granted by the city. Lake Placid ultimately faced challenges in [...]

]]> By: Jason http://teamfisher.com/lake-placid-will-miss-city-of-saskatoons-payment-deadline/#comment-3379 Jason Mon, 02 Nov 2009 07:25:15 +0000 http://www.teamfisher.com/?p=5217#comment-3379 Steven, <i>"It’s the politicians that will be spinning a difference between what happened in Canada and the US."</i> Lemming suicide is a frequently-used metaphor in reference to people who go along unquestioningly with popular opinion, with potentially dangerous or fatal consequences. Steven, “It’s the politicians that will be spinning a difference between what happened in Canada and the US.” Lemming suicide is a frequently-used metaphor in reference to people who go along unquestioningly with popular opinion, with potentially dangerous or fatal consequences.

]]> By: Norm Fisher http://teamfisher.com/lake-placid-will-miss-city-of-saskatoons-payment-deadline/#comment-3378 Norm Fisher Sun, 01 Nov 2009 05:00:24 +0000 http://www.teamfisher.com/?p=5217#comment-3378 Steven, So, they're going to lower amortization periods, causing a crash, so they can conceal the fact that something else they've done actually caused the crash? Frankly, nobody cares how you broke it, only that you broke it. Steven,

So, they’re going to lower amortization periods, causing a crash, so they can conceal the fact that something else they’ve done actually caused the crash? Frankly, nobody cares how you broke it, only that you broke it.

]]> By: Steven http://teamfisher.com/lake-placid-will-miss-city-of-saskatoons-payment-deadline/#comment-3377 Steven Sun, 01 Nov 2009 03:48:46 +0000 http://www.teamfisher.com/?p=5217#comment-3377 Jason, Yes I realize mortgages will be functioning the same. It's the politicians that will be spinning a difference between what happened in Canada and the US. Average Joe will be made to think it was shorter amortization as the cause for the housing crash in Canada. Blaming it on sub-prime, will be the feds admitting to the same regulatory mistake in the US. Like, Canada doesn't have sub-prime lending practises. ;-) Canadians regulation are sound and moving to more conservative regulations is Canadian. ;-) Jason,

Yes I realize mortgages will be functioning the same. It’s the politicians that will be spinning a difference between what happened in Canada and the US. Average Joe will be made to think it was shorter amortization as the cause for the housing crash in Canada. Blaming it on sub-prime, will be the feds admitting to the same regulatory mistake in the US. Like, Canada doesn’t have sub-prime lending practises. ;-) Canadians regulation are sound and moving to more conservative regulations is Canadian. ;-)

]]> By: Jason http://teamfisher.com/lake-placid-will-miss-city-of-saskatoons-payment-deadline/#comment-3376 Jason Sat, 31 Oct 2009 06:17:08 +0000 http://www.teamfisher.com/?p=5217#comment-3376 Rick, <i>"I hope somebody advises him that the good times have come and gone, and now is a good time to get into serious belt tightening mode."</i> Weren't we at this point $200M ago...? Steven, <i>"USA had sub-prime and Canada will have 'reverting amortization' to blame."</i> And when this happens, will our mortgages not be functioning in a similar fashion? (if different in name only) More economic woes from StatsCanada; there's no 'reading between the lines on this one' - we're still in a major recession, with no end in sight. <b>V-shaped recovery not going to happen here</b> http://www.financialpost.com/news-sectors/story.html?id=2165351 <i>"Statistics Canada reported the economy unexpectedly shrank 0.1% in August but perhaps even more surprising were sharp downward revisions to figures for earlier in the year. After adjustments, the statistics-gathering agency said GDP contracted an annualized 7.2% in the first quarter -- worse than the 6.1% previously reported. The drop marks a record dating back to 1961 when Ottawa began collecting such data. For the second quarter, the economy shrank 4.1%, as opposed to a 3.4% reading issued in August. The recession commenced in the fourth quarter of last year, when output fell 3.7%. Economists had been expecting growth in both July and August but have been disappointed twice with figures in July showing the economy was flat."</i> Rick, “I hope somebody advises him that the good times have come and gone, and now is a good time to get into serious belt tightening mode.” Weren’t we at this point $200M ago…?

Steven, “USA had sub-prime and Canada will have ‘reverting amortization’ to blame.” And when this happens, will our mortgages not be functioning in a similar fashion? (if different in name only)

More economic woes from StatsCanada; there’s no ‘reading between the lines on this one’ – we’re still in a major recession, with no end in sight.

V-shaped recovery not going to happen here
http://www.financialpost.com/news-sectors/story.html?id=2165351
“Statistics Canada reported the economy unexpectedly shrank 0.1% in August but perhaps even more surprising were sharp downward revisions to figures for earlier in the year.

After adjustments, the statistics-gathering agency said GDP contracted an annualized 7.2% in the first quarter — worse than the 6.1% previously reported. The drop marks a record dating back to 1961 when Ottawa began collecting such data. For the second quarter, the economy shrank 4.1%, as opposed to a 3.4% reading issued in August.

The recession commenced in the fourth quarter of last year, when output fell 3.7%. Economists had been expecting growth in both July and August but have been disappointed twice with figures in July showing the economy was flat.”

]]> By: Steven http://teamfisher.com/lake-placid-will-miss-city-of-saskatoons-payment-deadline/#comment-3375 Steven Sat, 31 Oct 2009 05:56:28 +0000 http://www.teamfisher.com/?p=5217#comment-3375 More CNH layoffs, more potash workers laid off, and now (no surprize to me) Lake Placid hasn't come thru. Welcome to the recession Saskatoon! Guess what's next, shorter 30-25 year amortization and larger downpayments for home mortgages! It will really bite in a few years renewing a mortgage with higher interest and shorter amortization. USA had sub-prime and Canada will have "reverting amortization" to blame. "governments whine" is the captcha code for this post. LOL More CNH layoffs, more potash workers laid off, and now (no surprize to me) Lake Placid hasn’t come thru. Welcome to the recession Saskatoon! Guess what’s next, shorter 30-25 year amortization and larger downpayments for home mortgages! It will really bite in a few years renewing a mortgage with higher interest and shorter amortization. USA had sub-prime and Canada will have “reverting amortization” to blame.

“governments whine” is the captcha code for this post. LOL

]]> By: Rick http://teamfisher.com/lake-placid-will-miss-city-of-saskatoons-payment-deadline/#comment-3374 Rick Sat, 31 Oct 2009 04:45:45 +0000 http://www.teamfisher.com/?p=5217#comment-3374 Mayor Atchison seems to be the only person surprised that the deadline has passed without payment. I hope somebody advises him that the good times have come and gone, and now is a good time to get into serious belt tightening mode. Mayor Atchison seems to be the only person surprised that the deadline has passed without payment. I hope somebody advises him that the good times have come and gone, and now is a good time to get into serious belt tightening mode.

]]> By: Jason http://teamfisher.com/lake-placid-will-miss-city-of-saskatoons-payment-deadline/#comment-3373 Jason Sat, 31 Oct 2009 01:53:15 +0000 http://www.teamfisher.com/?p=5217#comment-3373 River Landing's Greatest Hits... In hindsight, the casino was actually the only viable alternative that had any real chance of being completed. .......... <b>Michael Lobsinger made a promise in Saskatoon Wednesday that his Lake Placid Group development company will build "something spectacular for the city" at River Landing ... March 13, 2008</b> http://www.canada.com/saskatoonstarphoenix/story.html?id=5612f7a6-334b-4959-bbe2-5390932331e0&k=16727&p=2 <i>"I won't let you down. I don't have to build this. It's going to be uneconomic to build this... I'm going to lose money building this, but I misjudged the passion of how important this project is to the people of Saskatoon."</i> <b>Fingers crossed for financing ... October 18, 2008</b> http://www.canada.com/saskatoonstarphoenix/story.html?id=71a55b38-1f44-4a1a-a5d4-b65463ab7ed7 <i>"I'll finance it my own way and that's none of anybody's business... I'm very optimistic or I wouldn't have spent $3 million to $4 million already just on plans and getting as far as I have."</i> <b>Lake Placid Gets Time ... August 20, 2009</b> http://www.thestarphoenix.com/news/Lake+Placid+gets+time/1911488/story.html <i>"I sit in front of you embarrassed and humbled... but believe the funding is imminent."</i> <b>Lake Placid Development Seemingly a Dead Deal ... October 30, 2009</b> http://www.thestarphoenix.com/news/Lake+Placid+development+River+Landing+seemingly+dead+deal/2165367/story.html <i>"International finance is a complex and time consuming process... Lake Placid continues to work with an international financier to provide the $200-million credit facility that is required for the development of Saskatoon River Landing (Village)."</i> River Landing’s Greatest Hits… In hindsight, the casino was actually the only viable alternative that had any real chance of being completed.
……….

Michael Lobsinger made a promise in Saskatoon Wednesday that his Lake Placid Group development company will build “something spectacular for the city” at River Landing … March 13, 2008
http://www.canada.com/saskatoonstarphoenix/story.html?id=5612f7a6-334b-4959-bbe2-5390932331e0&k=16727&p=2
“I won’t let you down. I don’t have to build this. It’s going to be uneconomic to build this… I’m going to lose money building this, but I misjudged the passion of how important this project is to the people of Saskatoon.”

Fingers crossed for financing … October 18, 2008
http://www.canada.com/saskatoonstarphoenix/story.html?id=71a55b38-1f44-4a1a-a5d4-b65463ab7ed7
“I’ll finance it my own way and that’s none of anybody’s business… I’m very optimistic or I wouldn’t have spent $3 million to $4 million already just on plans and getting as far as I have.”

Lake Placid Gets Time … August 20, 2009
http://www.thestarphoenix.com/news/Lake+Placid+gets+time/1911488/story.html
“I sit in front of you embarrassed and humbled… but believe the funding is imminent.”

Lake Placid Development Seemingly a Dead Deal … October 30, 2009
http://www.thestarphoenix.com/news/Lake+Placid+development+River+Landing+seemingly+dead+deal/2165367/story.html
“International finance is a complex and time consuming process… Lake Placid continues to work with an international financier to provide the $200-million credit facility that is required for the development of Saskatoon River Landing (Village).”

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