Counting customers - railway traffic before Christmas in the 1800s

There is no doubt that the four or five days before Christmas are some of the busiest for Britain’s railways as people travel home to see their friends and relatives, or return bleary eyed from Christmas parties and gatherings. No doubt the flooding in Britain has reduced the number of trains running in the period this year. However, nationally, 22,247 trains were scheduled on the 21 December; 20,436 on the 22^nd; 11,588 were supposed to run yesterday and 18,968 are due to run today.^[1] Most Train Operating Companies have not supplement their regular scheduled services,^[3] Chiltern being the only one.^[2] Thus, with largely regular Saturday and Sunday timetables in operation on the 22^nd and 23^rd December, and with trains stopping early today, many passengers will feel like they have travelled in tin cans by the end of the festive season.

However, it is no comfort to say so, but crowded trains are what the Christmas passenger has experienced for over a century. In the nineteenth century particularly, the various railway companies provided the press with a plethora of data on their Christmas traffic. In the days after the 25 December how many passengers to and from stations were commonly mentioned in newspapers, especially as the numbers usually grew each year. 

The number of passengers who travelled in the festive period from London via the Great Western Railway (GWR) perfectly shows this growth. In 1895 the number booked at the company’s City and West End Offices and London Stations between Friday 20 December and Thursday 26 December at noon was 40,750. This was an increase on 1889’s total of 37,000. Indeed, in 1895 5,953 passengers travelled from Paddington on Saturday 21 December; with 8,992 being conveyed on Christmas Eve.^[4] Therefore, with Christmas passenger numbers increasing so rapidly year on year, it is quite possible that individual travellers found themselves progressively squeezed as the railways struggled to keep pace with the changing demand.   

However, as we are currently told passenger numbers in this country continue to grow, it would be interesting to see this year whether the 374 and 307 trains scheduled leave Paddington on the 21 and 24 December respectively are on average they are more packed than those on the same day in 2011. ^[5]

But passenger data was not the only information the newspapers featured; and the amount of parcels handled by stations also appeared alongside it. Those passing through the London and North Western Railway’s Euston Station were of particular interest and, as I related in a blog post last year, special arrangements were established there in the 1840s to handle this vast and growing traffic. Statistics have been found which show that number of parcels arriving at Euston in the three days before and the morning of the 25 December grew most years. They were as follows:

1848 - 12,000 [6]

1849 - 15,000 [7]

1850 - 10,000 [8]

1851 - Inward and Outward: 40,000 (figures for the week before Christmas) [9]

1852 - 12,000

1853 - 12,500 [10]

1864 - 17,000 [11]

Therefore, by digging into nineteenth century newspapers we can gauge how the railways became an integral part of Christmas for Victorians; performing the same function as do for passengers today, through taking them from home to merriment and delivering them all they needed for Christmas cheer.

Much thanks must go to Tom Cairns for the data he provided on current train operations.

A Very Merry Christmas

My other Christmas posts are as follows:

'Pretty Festoons of Holly Leaves Are Displayed' - The Decoration of Railway Stations Before 1900

"Christmas fare from the provinces" - Euston Station and the Distribution of Festive Goods in the 1840s

"An EXTRA TRAIN will leave Shoreditch" - Trains on Christmas Day before 1900
A Victorian 'Railway' Christmas - Parcels, Pastimes, Profit and Poetry

---------

[1] Data kindly provided by Tom Cairns http://realtimetrains.co.uk and Twitter: @swlines

[2] http://www.nationalrail.co.uk/service_disruptions/seasonal/Christmas_2012/index_custom.html

[3] http://www.nationalrail.co.uk/service_disruptions/seasonal/Christmas_2012/index_custom.html

[4] Morning Post - Friday 27 December 1895

[5] Data kindly provided by Tom Cairns http://realtimetrains.co.uk and Twitter: @swlines

[6] The Morning Post, Tuesday, December 26, 1848

[7] Daily News, Wednesday, December 26, 1849, Issue 1119

[8] The Era, Sunday, December 29, 1850

[9] The Standard, Saturday, December 27, 1851, p.1

[10] The Essex Standard, and General Advertiser for the Eastern Counties, Wednesday, December 28, 1853

[11] Jackson's Oxford Journal, Saturday, January 9, 1864

Contentment

Contentment


by Napoleon Hill

The richest man in all the world lives in Happy Valley. He is rich in values that endure, in things he cannot lose—things that provide him with contentment, sound health, peace of mind and harmony within his soul.

Here is an inventory of his riches and how he acquired them:

“I found happiness by helping others to find it.

“I found sound health by living temperately and eating only the food my body requires to maintain itself. “I hate no man, envy no man, but love and respect all mankind.

“I am engaged in a labor of love with which I mix play generously; therefore, I seldom grow tired.

“I pray daily, not for more riches but for more wisdom with which to recognize, embrace, and enjoy the great abundance of riches I already possess.

“I speak no mane save only to honor it, and I slander no man for any cause whatsoever.

“I ask no favors of anyone except the privilege of sharing my blessings with all who desire them.

“I am on good terms with my conscience; therefore, it guides me accurately in everything I do.

“I have more material wealth than I need because I am free from greed and covet only those things I can use constructively while I live. My wealth comes from those whom I have benefited by sharing my blessings.

“The estate of Happy Valley which I own is not taxable. It exists mainly in my own mind, in intangible riches that cannot be assessed for taxation or appropriated except by those who adopt my way of life. I created this estate over a lifetime of effort by observing nature’s laws and forming habits to conform with them.”

Source: Success Through A Positive Mental Attitude. Prentice-Hall, Inc. 1960. Pgs. 211 & 212.

'Pretty Festoons of Holly Leaves Are Displayed' - The Decoration of Railway Stations Before 1900

In the late nineteenth century most railway employees would find themselves at work over the Christmas period, even on Christmas Day itself. Therefore, it is unsurprising that many felt the need to adorn their places of work so that the spirit of Christmas would remain with them while on duty. The decoration of stations was seemingly a collective effort by station staff, and it was reported by the Reading Mercury in January 1887 that at Sunningdale station on the London and South Western Railway (LSWR) ‘all the men have worked at the decorations during their “off time” under the supervision of the station master.^[1]

This decking out of stations at Christmas allowed travellers to pass a wealth of colour while on their journeys. In 1884 the London and South Western Railway’s (LSWR) staff magazine, the South Western Gazette, reported that the standard of decorations at suburban stations was ‘quite up to the standard of past years’.^[2] The Whitstable Times and Hearne Bay Herald stated in 1881 that the London, Chatham and Dover Railway’s (LCDR) station at Canterbury ‘looked exceedingly pretty’ and that ‘there had been no stint in the quality of decorative material, and it had been put up in a manner that evinced care and taste on the part of the decorators.’^[3] Furthermore, in 1887 the adornments at the LSWR’s Totton, Redbridge and Lyndhurst Road Stations were described by the Hampshire Advertiser as being ‘very effective, reflecting credit on those who carried out the work.’^[4]

Decorations were usually a mix of local plants, particularly evergreens, with other items added. In 1888 the booking office and waiting room at Purley on the London, Brighton and South Coast Railway (LBSCR) was decorated ‘effectively and prettily’ with holly and ivy.^[5] Furthermore, the copious adornments at the LSWR’s Sunningdale Station in 1886 were described in full, as follows:

‘The evergreens, relieved by numerous flags, and mottoes have a very pretty effect. The pillars are entwined with Turkey red, above which is a diamond shaped wreath, with Chrysanthemums, yellow, white and pink bronze at each point. The booking office is adorned with great taste, and a number of pretty festoons of holly leaves are displayed.’^[6]

Additionally, the Gazetterecorded that the parcels office staff at Richmond station in 1887 had…:

“…vied with their parcel brethren at other stations in the way in which they have recognised this season of the year by wreathing and other decorations on the walls and around the windows of their office; the result has been very successful…a considerable quantity of evergreen has been expended in all decorations of this Richmond parcels office. We hear it is as well as any in the vicinity.’^[7]

Staff at Norbiton in 1884 and Camberley in 1885^[8] did things a little differently; lighting their booking offices and waiting rooms with Chinese lanterns. The Gazette recorded how at Norbiton ‘The effect at night is exceedingly pretty, and reflects great credit upon the designers.’^[9]

It is unknown when stations were decorated by their staff. However, only one article I have found reports a station's adornments before 25 December, suggesting that most stations were decked out shortly before Christmas Day.^[10] As for when they were taken down, this is again a bit of a mystery. Yet, clearly some stations were a bit lazy in doing so. At Saxmundham Station on the Great Eastern Railway in 1875, decorations were noted to be still up in the waiting room at a staff supper on the 12 January.^[11]

I have always felt that the Victorian railway community’s decoration of stations is akin to what many of us do at our own places of work; we decorate to help us remain festive while grafting. Consequently, our festooning of desks and walls follow in a long tradition of work-place festivities.

MERRY CHRISTMAS TO ALL MY READERS 

My other Christmas posts are as follows:

"Christmas fare from the provinces" - Euston Station and the Distribution of Festive Goods in the 1840s

"An EXTRA TRAIN will leave Shoreditch" - Trains on Christmas Day before 1900

A Victorian 'Railway' Christmas - Parcels, Pastimes, Profit and Poetry

----

[1] Reading Mercury, Saturday 01 January 1887

[2] The South Western Gazette, January 1888, p.8

[3] Whitstable Times and Herne Bay Herald, Saturday 01 January 1881

[4] Hampshire Advertiser, Saturday 31 December 1887

[5] Surrey Mirror, Saturday 22 December 1888

[6] Reading Mercury, Saturday 01 January 1887

[7] The South Western Gazette, January 1888, p.11

[8] Reading Mercury, Saturday 02 January 1886

[9] The South Western Gazette, January 1884, p.2

[10] Surrey Mirror, Saturday 22 December 1888

[11] The Ipswich Journal, Saturday 16 January 1875

BC First Time Bonus

Available Until March 31st 2013

BC First-Time New Home Buyers’ Bonus is a ONE-TIME Homebuyers Bonus Effective until March 31st 2013 – Refund Personal Income Tax Credit of up to $10,000

First Time Home Buyers’ Bonus is a one time personal income tax credit worth up to $10,000 for BC residents who purchase an eligible new home and are first-time home buyers.
BC Resident – if you file a 2011 BC resident personal income tax return, or if you move to BC after December 31,2011, or you file a 2012 BC resident personal income tax return (you will not be eligible for the bonus if you move to BC after December 31, 2012)
First time home buyer defined as- an individual who has never previously owned a primary residence in Canada or anywhere in the world. If there are multiple buyers, every purchaser must be a first time home buyer to qualify.

Primary Residence Eligibility – must be a home that you intend to live in on a permanent basis. It can be owned by you or jointly however again to qualify, you and any purchasers must be first time homebuyers.
An eligible new home includes new homes (i.e. newly constructed and substantially renovated homes) that are purchased from a builder and that are owner- built.

Other conditions:

• Contract of purchase and sale is entered into on or after

February 21, 2012

• HST is payable on the home

• No one else has claimed a bonus in respect of the home

• Construction of the home is complete, or the home is occupied,

before April 1, 2013

How much is the Bonus – equal to 5% of the purchase price of the home (or in the case of owner-built homes, 5% of the land and construction costs subject to HST) to a maximum of $10,000

Bonus will be reduced if income is too high:

• For individuals, bonus reduced by $.20 for every dollar in net income over $150,000 (bonus is reduced to zero at $200,000 net income)

• For couples, bonus reduced by $.10 for every dollar in family net income over $150,000 (bonus is reduced to zero at $250,000 family net income)

The builder sent in my BC HST New Housing Rebate – Am I still entitled to the bonus?

Yes, so long as you meet all the other requirements.

Is the bonus taxable? No. The bonus is a refundable personal income tax credit, meaning it will not be added to your income on your tax return.
For Further Information? Call us or go to online

Warm Regards,

Jared Dreyer - Dreyer Group Mortgage Team

Your Mortgage Professionals

604 649-5991

1-800-687-9020

www.dreyergroup.ca

clientservices@dreyergroup.ca
About Dreyer Group Smiles
Dreyer Group Smiles is a program dedicated to giving to facilities that provide safe and transitional housing to children and youth. By providing funds to these programs, Dreyer Group will make a meaningful difference to kids who otherwise may not have a roof over their heads, or hope for a bright future.

Dreyer Group hopes to expand this effort through their clients and business partners. In addition, they plan to raise additional funds through annual events and corporate fundraising initiatives. Dreyer Group is working closely with the Salvation Army to allocate these funds to the children and shelters.

About Dreyer Group Mortgages, A Member of the VERICO Brokers Network
As a senior mortgage consulting team with extensive experience in the financial services industry and thousands of happy clients, we understand what it takes to build long-term relationships through service and expertise. As an independent brokerage, we are not restricted to one financial institutions mortgage options. We provide the best range of financing solutions by accessing over 40 lenders and hundreds of products coast-to-coast.

Each VERICO member is an independently owned and operated business.

Copyright © 2008
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Give To Get

Here is great read from where most speakers and coaches still go to get thier information. The book Think and Grow Rich by Napoleon Hill. This is a great read that put into action everyday, will have fantastic results in your life.  Enjoy Jared.


Give to Get. . .


by Napoleon Hill

Your most preciously valued possessions and your greatest powers are often necessarily invisible and intangible. No one can take them. You and you alone can share them.

The more you share, the more you will have.

Now if you doubt this, you can prove it to yourself by giving: a smile to everyone you meet; a kind word; a pleasant response; appreciation with warmth from the heart; cheer; encouragement; hope; honor, credit, and applause; good thoughts; evidence of love for your fellowmen; happiness; a prayer for the godless and the godly; and time for a worthy cause with eagerness.

If you do experiment by giving any one of the above, you will also prove to yourself what we have found is one of the most difficult principles to teach those who need it most: how to cause desirable actions within yourself. Until you do learn, you will fail to realize that what is left with you when you share it with others will multiply and grow; and what you withhold from others will diminish and decrease. There, share that which is good and desirable and withhold that which is bad and undesirable.

Source: Success Through A Positive Mental Attitude. Prentice-Hall. 1960. Pgs. 165 & 166.

Mortgage Rule Changes as of November 01, 2012

Mortgage Rule Changes as of November 01, 2012

For your convenience, below is a summary of the primary mortgage changes. Keep in mind though, as an independent mortgage firm, we have access to a wide variety of lenders who offer alternative solutions. So be sure if you or your clients require financing, to call our office first and get a personalized mortgage analysis.



Have a super weekend! www.dreyergroup.ca 1-800-687-9020



Mortgage Rule Changes as of November 01, 2012



1. Lines of Credit: You can now only borrow to a maximum of 65% loan to value of your property - in the past it was 80%



2. Self-Employed: Clients who are self-employed and want to use their "stated income" (gross incomes), can go to a maximum loan to value of 65% on conventional mortgages.



3. All Variable Rate Mortgages must use the 5-year Bank of Canada benchmark rate to qualify as well as any fixed or variable terms less then 5 years insured or conventional must qualify on the 5 year fixed Bank of Canada benchmark rate. For example, if you secure a 2 year fixed rate at 2.79%, your mortgage application will be qualified based on the 5 year fixed benchmark with currently sits at 5.24%



Changes as of July 09, 2012



The changes listed below ONLY effect purchasers who plan on putting less than 20% down payment otherwise known as high ratio mortgages, insured through CMHC or Genworth.



These changes speak to ensuring we have a strong first-time homebuyers, who are building equity in their properties, to soften debt exposure and limit the loan to value ratios on higher priced real estate.



It is important to understand again that these current changes will NOT effect consumers providing a down payment of 20% or more.



CHANGES ANNOUNCED



1. Amortizations reduced to 25 years from 30 years. (on properties with less than 20% down payment)



EXAMPLE*:

A mortgage of $250,000 with a 30 year amortization at 3.09% 5-year fixed rate = $1094.89 monthly payment

A mortgage of $250,000 with the new 25 year amortization at 3.09% 5-year fixed rate = $1227.54 monthly payment



Difference of $132.65 per month



2. Refinancing is REDUCED from 85% Loan-to-value (LTV) to 80% - no change to purchases. (It is important to note that most consumers currently choose to do refinancing to a maximum of 80% LTV to avoid insurance fees so this specific change should have very little impact)



3. Properties purchased over $1 Million no longer will eligible for mortgage insurance (If the home purchase price is under $1 Million dollars consumers can still purchase up to 95% LTV with insurance – anything over $1 Million dollars, 20% down payment is required).



4. GDS and TDS set at 39% and 44% if credit score is over 680 - The reduction in amortization combined with the lowered GDS ratio could affect a number of people’s ability to qualify. If your credit score is below 680 you can qualify on a lesser GDS of 34% and TDS of 40



THE GOOD NEWS



• 5% down payment rule still remains in effect for property values under $1 Million dollars

• Mortgage brokers have access to specialty lenders in addition to mainstream banks and trust companies to help you get approved even if you fall outside the guidelines.



As the mortgage qualification landscape becomes more complicated, it is critical consumers work with an independent mortgage professional that understand these changes and can help navigate the rules to ensure the best mortgage solution.





Book Your Best Canadian Mortgage Rate 1-800-687-9020 www.dreyergroup.ca

Mortgage Rule Changes History

 

MORTGAGE RULE CHANGES – YEAR-OVER-YEAR COMPARISON

Between 2006 and early 2008 marked great changes in the mortgage industry. The zero percent down mortgage was introduced and amortization options grew to include 30, 35 and 40-years. Late 2008, in an effort to stabilize consumer borrowing, the government slowly clawed back these changes to where we originally started in 2006. In essence, we have come full circle. Below is a comparison of how these changes have rolled out over the past 4 years. Using the services of an Independent Mortgage Professional will help you access a wide variety of lenders. We can guide you through the process of securing the best mortgage product at the lowest rate.

2012

• LOC (line of credit) reduction to a maximum of 65% LTV (loan to value)
• Stated income for BFS (business for self) programs require 35% down now (conventional mortgage)
• Cash-back no longer accepted as down payment
• Qualifying rates on conventional lending to now use the 5 year benchmark rate for terms of less than 5 years and VRM’s (variable rate mortgages)
• 30 year amortization gone for high ratio mortgages, now 25 years
• No mortgage insurance (CMHC, etc) for properties over 1 million
• Lower maximum LTV (loan to value) for refinances. Was 85%, now 80%
• GDS (gross debt servicing) reduced from 44% to 39%
• Rental property down payment requirement is now 35% from 20% with many lenders

2011

• 35 year amortization gone for high ratio mortgages, now 30 years
• Lower maximum LTV (loan to value) for refinances. Was 90%, now 85%
• Elimination of government insurance on LOC’s (line of credits)

2010

• Qualifying rates on high ratio lending to now use the 5 year benchmark rate for terms of less than 5 years and VRM’s (variable rate mortgages)
• Lower maximum LTV (loan to value) for refinances. Was 95%, now 90%
• Rental property down payment requirement is now 20% from 5%

2008

• Minimum downpayment changed from 0% back to 5%
• Minimum beacon score of 620 required for high ratio lending
• New loan documentation requirement standards
• 45% maximum TDS ratio
• 40 year amortization gone for high ratio mortgages, now 35 years

For more information on how these changes affect your borrowing, contact the Dreyer Mortgage Team

Jared Dreyer, AMP Dreyer Mortgage Brokers 604 649-5991        jared@dreyergroup,ca                www.dreyergroup.ca

 

Who Took My Desk?

And I'm proud to be a Canadian, where at least I know I'm free. And I won't forget the men/and women who died, and gave that right to me.


~Unknown WATCH NOW

It is that time of year again. The time we stop and remember all the past and present soldiers that fought for our freedom. War is such a terrible state but sadly sometimes we have had no choice. And it is at those times that I am so grateful for all the young men and women who stood up and fought on our behalf..... where would we be today without their courage.
All this week and into early next week Remembrance Day ceremonies will take place at local schools, legions, parks and city halls... join me in taking the time to show your respect and gratitude.... Lest We Forget
The Old Comrade

By Dileas Gu Brath
Every year about this time

You'll see him at the mall

A man who's old and slightly bent,

Who once stood straight and tall.

And if you go you'll see him,

For he's there every day.

Dressed in a Legion blazer,

With poppies in a tray



Who is this ancient warrior

Who sacrificed his youth?

So we could live in freedom,

And all could know the truth.



How many times still in his youth

Did this man go through hell?

How many times watched helplessly,

As comrades around him fell



A dollar coin or maybe five,

It's a small price that I pay,

As I take a poppy,

And start to walk away.



Thank you sir the old man says,

With a voice that's strong and true,

And I turn and look in his eyes,

And say, No Sir... I thank you!







Warm Regards,

Jared Dreyer, AMP

604 649-5991

jared@dreyergroup.ca

Dreyer Group Mortgages Inc.

Proud Member of the VERICO Brokers Network





________________________________________

About Dreyer Group Mortgages, A Member of the VERICO Brokers Network



As a senior mortgage consulting team with extensive experience in the financial services industry and thousands of happy clients , we understand what it takes to build long-term relationships through service and expertise. As an independent brokerage, we are not restricted to one financial institutions mortgage options. We provide the best range of financing solutions by accessing over 40 lenders and hundreds of products coast-to-coast.



Each VERICO member is an independently owned and operated business. Copywrite © 2008









He remembers...



Things he wants to forget, but can't.



And a tear slides slowly down his cheek...

by Andre Quellette



On November 11th, take time to remember




Who Took My Desk?



Back in September, on the first day of school, Martha Cothren, a social studies high school teacher removed all of the desks out of her classroom.



When first period kids entered the room they discovered that there were no desks they asked



'Ms.. Cothren, where're our desks?'



She replied, 'You can't have a desk until you tell me how you earn the right to sit at a desk.'



They thought, 'Well, maybe it's our grades.'



'No,' she said. 'Maybe it's our behavior.'



She told them, 'No, it's not even your behaviour.'



And so, they came and went, the first period, second period, third period. Still no desks in the classroom.



The final period of the day came and as the puzzled students found seats on the floor of the deskless classroom, Martha Cothren said, 'Throughout the day no one has been able to tell me just what he/she has done to earn the right to sit at the desks that are ordinarily found in this classroom. Now I am going to tell you.'



At this point, Martha Cothren went over to the door of her classroom and opened it.



Twenty-seven (27) War Veterans, all in uniforms, walked into that classroom, each one carrying a school desk. The Vets began placing the school desks in rows, and then they would walk over and stand alongside the wall... By the time the last soldier had set the final desk in place those kids started to understand, perhaps for the first time in their lives, just how the right to sit at those desks had been earned..



Martha said, 'You didn't earn the right to sit at these desks. These heroes did it for you. They placed the desks here for you. Now, it's up to you to sit in them. It is your responsibility to learn, to be good students, to be good citizens. They paid the price so that you could have the freedom to get an education. Don't ever forget it.'

Good News First Time HomeBuyers

If you are a First Time Homebuyer afraid you wont be able to enter the housing market with the new mortgage rules, fear not.

This is actually an opportune time to take advantage of the historical low mortgage rates and negotiate better prices on housing, especially in the condo/townhome market. While many feared this market would be the most negatively affected, take a look at these numbers to help put it in perspective:

2007 40 years of amortization (the longest you could get at the time) at an average interest rate of 5.71% - $350,000 = $1,831* would have been your monthly mortgage payment.

2012 25 years of amortization at an average interest rate of 3.29% - $350,000 = $1,704* monthly mortgage payment.

Right away, you'll notice a truly substantial savings in that you'll pay your mortgage off 15 years earlier and approximately $330,000 in interest that would have developed over the 40-year amortization.

For more information on First Time Homebuyer Programs, click here
Call my office now to find out how much you qualify for. If you are not a first time homebuyer and would like more information on your mortgage financing options, we are happy to help.

Please Call 604 649-5991
Warm Regards,
Jared Dreyer - Dreyer Group Mortgage Team
Your Mortgage Professionals
604 649-5991

1-800-687-9020

www.dreyergroup.ca

clientservices@dreyergroup.ca











________________________________________

About Dreyer Group Smiles



Dreyer Group Smiles is a program dedicated to giving to facilities that provide safe and transitional housing to children and youth. By providing funds to these programs, Dreyer Group will make a meaningful difference to kids who otherwise may not have a roof over their heads, or hope for a bright future.

Dreyer Group hopes to expand this effort through their clients and business partners. In addition, they plan to raise additional funds through annual events and corporate fundraising initiatives. Dreyer Group is working closely with the Salvation Army to allocate these funds to the children and shelters.





About Dreyer Group Mortgages, A Member of the VERICO Brokers Network



As a senior mortgage consulting team with extensive experience in the financial services industry and thousands of happy clients, we understand what it takes to build long-term relationships through service and expertise. As an independent brokerage, we are not restricted to one financial institutions mortgage options. We provide the best range of financing solutions by accessing over 40 lenders and hundreds of products coast-to-coast.



Each VERICO member is an independently owned and operated business.

Copywrite © 2008





REFINANCING RATES or



NEW HOME PURCHASE



2.99 % 5 Year Fixed Rate



3.89% 10 Year Fixed Rate





All rates quoted are on approved credit.

'It is impossible to manage a [pre-1914] railway by theory" ... or is it?

In the early 1900s the London and South Western Railway (LSWR) was one of five British railway companies that began sending its clerks to the London School of Economics (LSE) to undertake classes in 'railway administration.' The aim of this move was to augment the skills and knowledge of its clerical staff, the company's future managers, in a period when the quality of the railway industry's management was being questioned and it was being challenged by high material and labour costs, competition from trams on suburban routes, increased government intervention and stagnating traffic growth. Indeed, this caused a severe drop in company profitability from the late 1890s onwards.

However, before the First World War the idea of railway employees attending universities to receive management training was not universally accepted within many companies'. Furthermore, this attitude was not restricted to the railways and Amdam argued that historians have almost unanimously concluded that within British industry generally there was a ‘skepticism towards business education within the both the academic and business community’.[1]

This scepticism towards was expressed frequently by LSWR clerks in the company's staff magazine, The South Western Gazette, which was largely written and edited by them. When Hilditch, the Waterloo Station Superintendent, retired in 1905, the piece announcing this stated that he had had ‘a good plain practical education, but he possessed, in addition, what universities have not yet been able to provide, namely, a shrewdness and capacity for sound common sense, a cool head and clear intellectual grasp.'[2] The anti-university feeling was reiterated in 1909 when another clerk, writing on the matter staff education, stated that ' I will dismiss the question of the London School of Economics by saying that “it is impossible to manage a railway by theory.” Indeed, he preferred an institute where individuals could learn 'practical' railway skills.[3]

The problem with this attitude was that it was what had created many of the problems railway management faced immediately after the late 1890s. Indeed, because many senior officials felt that good railway managers were born within the industry, not made outside it, and thus recruited the vast majority internally, companies' decision-makers were highly institutionalised within the practices and norms of the railways that employed them and the industry as a whole.  Consequently, railways were unable to respond adequately to the challenges they faced as there was severe lack of innovation within them and few new ideas were being generated. This is what my PhD shows in the LSWR's case.


-----

[1]Amdam, Rolv Petter, ‘Business Education’, in Jones, Geoffrey and Zeitlin, Robert (eds.), The Oxford Handbook of Business History, (Oxford, 2007), p.586 
[2] South Western Gazette, September 1905, p.9 
[3] South Western Gazette, December 1909, p.10

Bank of Canada Overnight Rate

Earlier today, the Bank of Canada again did what we expected them to do… they maintained their overnight rate. What this means to you is that the prime rate on variable rate mortgages and lines of credit continue to remain low.
Here is an excerpt of the announcement from the Bank of Canada and what they had to say about their decision:

The global economy has unfolded broadly as the Bank projected... “The economic expansion in the United States is progressing at a gradual pace. Europe is in recession and recent indicators point to a continued contraction. In China and other major emerging economies, growth has slowed somewhat more than expected, though there are signs of stabilization around current growth rates. Notwithstanding the slowdown in global economic activity, prices for oil and other commodities produced in Canada have, on average, increased in recent months. Global financial conditions have improved, supported by aggressive policy actions of major central banks, but sentiment remains fragile. In Canada, while global headwinds continue to restrain economic activity, domestic factors are supporting a moderate expansion”

The overall economic growth in Canada is expected to pick up and return to full capacity by the end of 2013. Based on this outlook, the bank has indicated they are unlikely to increase their rate in the foreseeable future although very much dependent on the continued trend. A change is likely to occur sometime in 2013 but remember any increase to the prime rate since 1992 has only been by 0.25% at any ONE time, so you won’t see a large significant increase all at once.

Fixed rates have seen a slight dip sitting at around 2.98% - 3.09%! Still amazing rates for those looking to lock in.
Help Us Help Your Colleagues, Family and Friends

I wonder if I can ask a favour – rates are still so low right now and so it is a great time for first time homebuyers, buying an investment property or consider refinancing especially as I can hold rates for up to six months, if you know of someone that is looking for advice on their mortgage options, with no obligation, would you mind passing my contact information on to them – this is very much appreciated. We build our business from introduction from great clients like you!

Warm Regards,

Jared Dreyer - Dreyer Group Mortgage Team

Your Mortgage Professionals

604 649-5991

1-800-687-9020

www.dreyergroup.ca

clientservices@dreyergroup.ca
________________________________________

About Dreyer Group Smiles



Dreyer Group Smiles is a program dedicated to giving to facilities that provide safe and transitional housing to children and youth in the Fraser Valley of British Columbia. By providing funds to these programs, Dreyer Group will make a meaningful difference to kids who otherwise may not have a roof over their heads, or hope for a bright future.

Dreyer Group hopes to expand this effort through their clients and business partners. In addition, they plan to raise additional funds through annual events and corporate fundraising initiatives. Dreyer Group is working closely with the Salvation Army to allocate these funds to the children and shelters.
About Dreyer Group Mortgages, A Member of the VERICO Brokers Network

As a senior mortgage consulting team with extensive experience in the financial services industry and thousands of happy clients throughout the Lower Mainland, we understand what it takes to build long-term relationships through service and expertise. As an independent brokerage, we are not restricted to one financial institutions mortgage options. We provide the best range of financing solutions by accessing over 40 lenders and hundreds of products coast-to-coast.
Each VERICO member is an independently owned and operated business.

Copywrite © 2008





REFINANCING RATES or



NEW HOME PURCHASE



2.98 % 5 Year Fixed Rate



3.89% 10 Year Fixed Rate



LIMITED TIME - SPECIAL CONDITIONS APPLY - CALL 604 536-3802 to Book



More Rates



Email me now with the next person you know that needs financing



All rates quoted are on approved credit.













Economic Highlights:



• Statistics Canada released new household balance sheet data this week that showed the household

debt-to-income ratio is 163%, well above the 152% previously reported. However, households are also richer than previously thought and other measures of indebtedness were improved.

• Overall, the economic backdrop in Canada has softened. On the back of weak manufacturing and a cooling housing market, Canadian real GDP growth is estimated to remain stuck at a sub-2.0% pace for a fourth consecutive quarter in Q3. Below trend economic growth has resulted in subdued inflation. The Bank of Canada’s core measure of inflation rose by just 1.3% year-over-year in September.

• The combination of soft inflation and economic growth is likely to keep the Bank of Canada rate increases on hold

through the first half of 2013. TD Canada Trust





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Mortgage Payment Calculator



Income Qualifier



Purchase Finance Calculator



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Re-start

Dear Friends

I am looking to re-start the TurnipRail Blog soon - so keep your eyes peeled!

Best Wishes

David

Get a instant mortgage rate quote online

If you want to know your lowest mortgage rate in an instant, try this great new tool Build A Mortgage instant rate quote tool. You choose your mortgage terms and needs and instantly you will be presented with your lowest mortgage rate. It’s really easy and only takes a minute to complete. What I really like about this tool is that it requires no credit checks or obligation and can hold your rate for up to 120 days if you choose. Everything today is instant gratification and expecting the lowest mortgage rate is no exception.

Bank Of Canada

Bank of Canada Overnight Rate and Lines of Credit Regulations Changing Soon

Hope you all had a wonderful summer! Here is your personal update from me on the recent Bank of Canada Overnight Rate announcement

At 9:00 am EST, Wednesday September 5th, 2012, the Bank of Canada again did what we expected them to do… they maintained their overnight rate. What this means to you is that the prime rate on variable mortgages or line of credit will not change and remains at 3.00%.

The overall economic growth in Canada is expected to pick up through 2013 and there are tentative signs of slowing in household spending which the Bank is in favour of. Based on this outlook, they have indicated they are unlikely to increase their rate in the foreseeable future although very much dependent on the continued trend. A change is likely to occur in 2013, and it is expected to be gradual and controlled in line with economic recovery, both in Canada and globally.

Fixed rates haven’t changed much either since the last announcement, maintaining at around 3.19% to 3.39% for a five year fixed term. Dreyer Group does have access to a 5 year fixed at 2.99% - so while variable rates are very low, many clients are choosing to lock in at this historically low fixed rate. If having a fixed payment is important to you, call my office so we can calculate what your new payment would look like and also if it is suitable for you. The next announcement on any change to the prime rate is October 23, 2012.
Here is an excerpt of the announcement from the Bank of Canada and what they had to say about their decision:

“The economic expansion in the United States continues at a gradual pace. Europe is in recession and its crisis, while contained, remains acute. In China and other major emerging economies, growth is decelerating somewhat more quickly than expected from previously-rapid rates, reflecting past policy tightening, weaker external demand, and the challenges of rebalancing towards domestic sources of growth. Notwithstanding the slower global momentum, prices for oil and other commodities produced by Canada have, on average, increased since July. In Canada, while global headwinds continue to restrain economic activity, underlying momentum remains at a pace roughly in line with the economy’s production potential.”

Lines of Credit Limits Changing Soon

On a side note, there are some mortgage legislation changes coming into effect in the fall which impact secured lines of credit. They will be limited to a maximum of 65% of the value of your property which is lower than the current maximum of 80%. Therefore if you are thinking of taking out some equity in your home and a line of credit is something you are considering, call me now so we can chat before the changes come into place and your options may diminish.

Help Us Help Your Colleagues, Family and Friends

I wonder if I can ask a favour – rates are still so low right now and so it is a great time for first time homebuyers, buying an investment property or consider refinancing especially as I can hold rates for up to six months, if you know of someone that is looking for advice on their mortgage options, with no obligation, would you mind passing my contact information on to them – this is very much appreciated. We build our business from introduction from great clients like you!

Warm Regards,

Jared Dreyer

Your Mortgage Professional

604 649-5991

www.dreyergroup.ca

jared@dreyergroup.ca




________________________________________

About Dreyer Group Smiles



Dreyer Group Smiles is a program dedicated to giving to facilities that provide safe and transitional housing to children and youth in the Fraser Valley of British Columbia. By providing funds to these programs, Dreyer Group will make a meaningful difference to kids who otherwise may not have a roof over their heads, or hope for a bright future.

Dreyer Group hopes to expand this effort through their clients and business partners. In addition, they plan to raise additional funds through annual events and corporate fundraising initiatives. Dreyer Group is working closely with the Salvation Army to allocate these funds to the children and shelters.





About Dreyer Group Mortgages, A Member of the VERICO Brokers Network



As a senior mortgage consulting team with extensive experience in the financial services industry and thousands of happy clients throughout the Lower Mainland, we understand what it takes to build long-term relationships through service and expertise. As an independent brokerage, we are not restricted to one financial institutions mortgage options. We provide the best range of financing solutions by accessing over 40 lenders and hundreds of products coast-to-coast.



Each VERICO member is an independently owned and operated business.

Copywrite © 2008





REFINANCING RATES or



NEW HOME PURCHASE



2.99 % 5 Year Fixed Rate



3.89% 10 Year Fixed Rate



LIMITED TIME - SPECIAL CONDITIONS APPLY - CALL 604 536-3802 to Book



More Rates



Email me now with the next person you know that needs financing



All rates quoted are on approved credit.









Watch a recent interview with Sr. Richard Branson who is certainly a mentor to follow and an inspiration for his work helping others. It’s a long video but well worth taking the time to watch. click here






Download Dreyer Group on Your Hand-held



Mortgage Payment Calculator



Income Qualifier



Purchase Finance Calculator



Get an Instant Hold and Quote for Your Client



Access Quick App to get your clients approval going



Blackberry and iPhone compatible.



Simply link here






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Follow me on Facebook

Latest Housing Market Update

Good Afternoon,

I hope you and your family are having a wonderful summer!

A few things to share this week:

I came across the article (below) in the Financial Post today and thought you may want to share it with your clients. It speaks to a balanced housing market and a softer landing for house prices in BC and Canada which is all very good news. I have also included some updated housing price stats as well as 12 tasks to do before noon to be super productive!

Canada Mortgage and Housing Corp. is forecasting a moderate slowdown in new-home construction starts as well as sales of existing housing.

The Ottawa-based federal agency isn’t calling for a major decline, but its latest forecast suggests next year will be somewhat softer than estimates CMHC issued in June while 2012 may be somewhat stronger than previously expected.

CMHC has been saying for some time that it expects housing prices in most local markets will grow more slowly than they have been recently.

It says housing starts and home sales have been strong in 2012 — particularly when it comes to multiple-dwelling units such as condos and apartments — but will soften moderately in coming months into 2013.

“Balanced market conditions in most local housing markets will result in a slowing in house price growth as well,” Mathieu Laberge, CMCH’s deputy chief economist, said in an outlook released Tuesday.

CMHC provides various levels of mortgage insurance to protect lenders from defaults by home buyers. It also closely monitors residential construction activity and housing sales and provides outlooks used by various sectors of the economy.

In the latest forecast, CMHC estimates there will be between 196,800 and 217,000 units of housing started in 2012, with a point forecast of 207,200 units.

The point forecast is slightly higher than an estimate of 202,700 issued by CMHC in June, when the range was wider at between 182,300 to 220,600.

In 2013, CMHC now estimates housing starts will be in the range of 173,000 to 207,400 units, with a point forecast of 193,100 units — about seven per cent fewer than this year under the latest forecast.

The previous 2013 point forecast for 195,700 housing starts.

Based on data compiled by the Canadian Real Estate Association, CMHC said Tuesday that it expects about 466,600 units of existing housing to be sold this year and 469,600 units in 2013.

The average price for property sales through CREA members is forecast to be between $351,300 and $378,400 in 2012 and between $358,000 and $395,800 in 2013, CMHC said Tuesday.

CMHC’s point forecast for the average price is now $368,000 for 2012 and $377,300 for 2013, the agency said Tuesday Its June was the average price to be $372,700 for 2012 and $383,600 for 2013. Financial Post Aug 14, 2012





Total New Housing Starts (Seasonally adjusted and annualized)

Province April

2012 April

2011 May

2012 May

2011 June

2012 June

2011

Newfoundland/Labrador 4,600 2,300 4,500 3,700 4,700 5,800

PEI 1,200 700 700 900 1,300 800

Nova Scotia 3,200 3,900 4,400 4,400 4,100 4,000

New Brunswick 2,500 2,500 4,700 3,400 5,400 4,500

Quebec 62,600 45,100 42,000 50,500 48,100 48,200

Ontario 98,400 67,600 80,300 53,000 73,300 75,800

Manitoba 5,100 4,800 12,200 6,300 5,000 5,400

Saskatchewan 11,100 5,900 6,900 5,200 10,800 8,700

Alberta 39,400 21,400 33,400 24,300 33,500 24,100

British Columbia 23,900 24,500 28,300 31,900 36,500 23,500

CANADA 252,000 178,700 217,400 183,600 222,700 200,800

Source: CMHC Housing Now - July 2011 and July 2012. This seasonally adjusted data goes through stages of revision at different times of the year.

Top of Page



________________________________________





Average MLS® Resale Price for Local Markets

City June 2011 June 2012

Halifax $ 269,605 $ 272,495

Saint John $ 168,830 $ 163,468

Quebec $ 245,158 $ 263,740

Montreal $ 323,926 $ 336,054

Ottawa $ 354,524 $ 354,690

Toronto $ 476,386 $ 508,622

Hamilton/Burlington $ 339,828 $ 363,162

Winnipeg $ 243,977 $ 257,095

Saskatoon $ 299,572 $ 287,355

Regina $ 285,613 $ 312,241

Calgary $ 412,016 $ 422,139

Edmonton $ 328,695 $ 340,391

Vancouver $ 808,867 $ 701,141

Victoria $ 507,385 $ 486,611

Source: Canadian Real Estate Association

Quarterly Housing Price Index

Standard Two-Storey

Market Q2 2012 Average Last Quarter Avg Q2 2011 Average 2 Storey % Change

Halifax 317,167 306,667 301,667 5.1%

Charlottetown 203,000 200,000 197,000 3.0%

Moncton 138,000 134,800 137,500 0.4%

Fredericton 215,000 208,000 208,000 3.4%

Saint John 279,770 293,250 299,750 -6.7%

St. John's 368,025 350,500 336,667 9.3%

Montreal 384,804 387,429 379,529 1.4%

Ottawa 392,000 387,833 371,500 5.5%

Toronto 668,829 645,467 623,202 7.3%

Winnipeg 321,875 309,250 307,375 4.7%

Regina 347,500 299,000 325,000 6.9%

Saskatoon 379,500 372,250 353,750 7.3%

Calgary 425,456 418,233 415,200 2.5%

Edmonton 353,764 354,714 349,286 1.3%

Vancouver 1,178,750 1,182,250 1,114,500 5.8%

Victoria 461,000 459,000 477,000 -3.4%

National 408,423 398,282 390,163 4.7%

Detached Bungalows

Market Q2 2012 Average Last Quarter Avg Q2 2011 Average Bungalow % Change

Halifax 285,833 273,333 266,333 7.3%

Charlottetown 172,000 170,000 165,000 4.2%

Moncton 144,000 145,700 157,500 -8.6%

Fredericton 205,000 205,000 201,000 2.0%

Saint John 175,037 191,000 179,950 -2.7%

St. John's 275,625 262,500 245,333 12.3%

Montreal 281,161 286,000 279,714 0.5%

Ottawa 388,917 385,667 370,750 4.9%

Toronto 560,187 544,450 517,100 8.3%

Winnipeg 304,250 283,375 281,125 8.2%

Regina 320,500 316,500 313,000 2.4%

Saskatoon 351,125 338,750 331,250 6.0%

Calgary 432,322 422,989 411,711 5.0%

Edmonton 327,857 324,143 312,000 5.1%

Vancouver 1,087,125 1,068,500 1,025,250 6.0%

Victoria 460,000 470,000 475,000 -3.2%

National 379,311 356,306 356,625 5.5%

Source: Royal LePage, July 2012







Jared Dreyer

Your Mortgage Professional

604 649-5991

www.dreyergroup.ca

jared@dreyergroup.ca





________________________________________

About Dreyer Group Smiles



Dreyer Group Smiles is a program dedicated to giving to facilities that provide safe and transitional housing to children and youth in the Fraser Valley of British Columbia. By providing funds to these programs, Dreyer Group will make a meaningful difference to kids who otherwise may not have a roof over their heads, or hope for a bright future.

Dreyer Group hopes to expand this effort through their clients and business partners. In addition, they plan to raise additional funds through annual events and corporate fundraising initiatives. Dreyer Group is working closely with the Salvation Army to allocate these funds to the children and shelters.





About Dreyer Group Mortgages, A Member of the VERICO Brokers Network



As a senior mortgage consulting team with extensive experience in the financial services industry and thousands of happy clients throughout the Lower Mainland, we understand what it takes to build long-term relationships through service and expertise. As an independent brokerage, we are not restricted to one financial institutions mortgage options. We provide the best range of financing solutions by accessing over 40 lenders and hundreds of products coast-to-coast.



Each VERICO member is an independently owned and operated business.

Copywrite © 2008





REFINANCING RATES or



NEW HOME PURCHASE



2.99 % 5 Year Fixed Rate



3.89% 10 Year Fixed Rate



LIMITED TIME - SPECIAL CONDITIONS APPLY - CALL 604 536-3802 to Book



More Rates



Email me now with the next person you know that needs financing



All rates quoted are on approved credit.













12 Tasks Killer Productive People do Before Noon





1. They make a work to-do list the day before.

2. They get a full night's rest.

3. They avoid hitting snooze.

4. They exercise in the morning.

5. They practice a morning ritual.

6. They eat breakfast.

7. They arrive at the office on time.

8. They check in with their boss and/or employees.

9. They tackle the big projects first.

10. They avoid morning meetings to keep their most productive time for work .



11. They allot time for following up on messages and proactive calls.



12. They take a mid-morning break.







Download Dreyer Group on Your Hand-held



Mortgage Payment Calculator



Income Qualifier



Purchase Finance Calculator



Get an Instant Hold and Quote for Your Client



Access Quick App to get your clients approval going



Blackberry and iPhone compatible.



Simply link here






Follow me on twitter






Follow my financial blog






Follow me on Facebook






Good Afternoon,


I hope you and your family are having a wonderful summer!



A few things to share this week:



I came across the article (below) in the Financial Post today and thought you may want to share it with your clients. It speaks to a balanced housing market and a softer landing for house prices in BC and Canada which is all very good news. I have also included some updated housing price stats as well as 12 tasks to do before noon to be super productive!



Canada Mortgage and Housing Corp. is forecasting a moderate slowdown in new-home construction starts as well as sales of existing housing.

The Ottawa-based federal agency isn’t calling for a major decline, but its latest forecast suggests next year will be somewhat softer than estimates CMHC issued in June while 2012 may be somewhat stronger than previously expected.

CMHC has been saying for some time that it expects housing prices in most local markets will grow more slowly than they have been recently.

It says housing starts and home sales have been strong in 2012 — particularly when it comes to multiple-dwelling units such as condos and apartments — but will soften moderately in coming months into 2013.

“Balanced market conditions in most local housing markets will result in a slowing in house price growth as well,” Mathieu Laberge, CMCH’s deputy chief economist, said in an outlook released Tuesday.

CMHC provides various levels of mortgage insurance to protect lenders from defaults by home buyers. It also closely monitors residential construction activity and housing sales and provides outlooks used by various sectors of the economy.

In the latest forecast, CMHC estimates there will be between 196,800 and 217,000 units of housing started in 2012, with a point forecast of 207,200 units.

The point forecast is slightly higher than an estimate of 202,700 issued by CMHC in June, when the range was wider at between 182,300 to 220,600.

In 2013, CMHC now estimates housing starts will be in the range of 173,000 to 207,400 units, with a point forecast of 193,100 units — about seven per cent fewer than this year under the latest forecast.

The previous 2013 point forecast for 195,700 housing starts.

Based on data compiled by the Canadian Real Estate Association, CMHC said Tuesday that it expects about 466,600 units of existing housing to be sold this year and 469,600 units in 2013.

The average price for property sales through CREA members is forecast to be between $351,300 and $378,400 in 2012 and between $358,000 and $395,800 in 2013, CMHC said Tuesday.

CMHC’s point forecast for the average price is now $368,000 for 2012 and $377,300 for 2013, the agency said Tuesday Its June was the average price to be $372,700 for 2012 and $383,600 for 2013. Financial Post Aug 14, 2012





Total New Housing Starts (Seasonally adjusted and annualized)

Province April

2012 April

2011 May

2012 May

2011 June

2012 June

2011

Newfoundland/Labrador 4,600 2,300 4,500 3,700 4,700 5,800

PEI 1,200 700 700 900 1,300 800

Nova Scotia 3,200 3,900 4,400 4,400 4,100 4,000

New Brunswick 2,500 2,500 4,700 3,400 5,400 4,500

Quebec 62,600 45,100 42,000 50,500 48,100 48,200

Ontario 98,400 67,600 80,300 53,000 73,300 75,800

Manitoba 5,100 4,800 12,200 6,300 5,000 5,400

Saskatchewan 11,100 5,900 6,900 5,200 10,800 8,700

Alberta 39,400 21,400 33,400 24,300 33,500 24,100

British Columbia 23,900 24,500 28,300 31,900 36,500 23,500

CANADA 252,000 178,700 217,400 183,600 222,700 200,800

Source: CMHC Housing Now - July 2011 and July 2012. This seasonally adjusted data goes through stages of revision at different times of the year.

Top of Page



________________________________________





Average MLS® Resale Price for Local Markets

City June 2011 June 2012

Halifax $ 269,605 $ 272,495

Saint John $ 168,830 $ 163,468

Quebec $ 245,158 $ 263,740

Montreal $ 323,926 $ 336,054

Ottawa $ 354,524 $ 354,690

Toronto $ 476,386 $ 508,622

Hamilton/Burlington $ 339,828 $ 363,162

Winnipeg $ 243,977 $ 257,095

Saskatoon $ 299,572 $ 287,355

Regina $ 285,613 $ 312,241

Calgary $ 412,016 $ 422,139

Edmonton $ 328,695 $ 340,391

Vancouver $ 808,867 $ 701,141

Victoria $ 507,385 $ 486,611

Source: Canadian Real Estate Association

Quarterly Housing Price Index

Standard Two-Storey

Market Q2 2012 Average Last Quarter Avg Q2 2011 Average 2 Storey % Change

Halifax 317,167 306,667 301,667 5.1%

Charlottetown 203,000 200,000 197,000 3.0%

Moncton 138,000 134,800 137,500 0.4%

Fredericton 215,000 208,000 208,000 3.4%

Saint John 279,770 293,250 299,750 -6.7%

St. John's 368,025 350,500 336,667 9.3%

Montreal 384,804 387,429 379,529 1.4%

Ottawa 392,000 387,833 371,500 5.5%

Toronto 668,829 645,467 623,202 7.3%

Winnipeg 321,875 309,250 307,375 4.7%

Regina 347,500 299,000 325,000 6.9%

Saskatoon 379,500 372,250 353,750 7.3%

Calgary 425,456 418,233 415,200 2.5%

Edmonton 353,764 354,714 349,286 1.3%

Vancouver 1,178,750 1,182,250 1,114,500 5.8%

Victoria 461,000 459,000 477,000 -3.4%

National 408,423 398,282 390,163 4.7%

Detached Bungalows

Market Q2 2012 Average Last Quarter Avg Q2 2011 Average Bungalow % Change

Halifax 285,833 273,333 266,333 7.3%

Charlottetown 172,000 170,000 165,000 4.2%

Moncton 144,000 145,700 157,500 -8.6%

Fredericton 205,000 205,000 201,000 2.0%

Saint John 175,037 191,000 179,950 -2.7%

St. John's 275,625 262,500 245,333 12.3%

Montreal 281,161 286,000 279,714 0.5%

Ottawa 388,917 385,667 370,750 4.9%

Toronto 560,187 544,450 517,100 8.3%

Winnipeg 304,250 283,375 281,125 8.2%

Regina 320,500 316,500 313,000 2.4%

Saskatoon 351,125 338,750 331,250 6.0%

Calgary 432,322 422,989 411,711 5.0%

Edmonton 327,857 324,143 312,000 5.1%

Vancouver 1,087,125 1,068,500 1,025,250 6.0%

Victoria 460,000 470,000 475,000 -3.2%

National 379,311 356,306 356,625 5.5%

Source: Royal LePage, July 2012







Jared Dreyer

Your Mortgage Professional

604 649-5991

www.dreyergroup.ca

jared@dreyergroup.ca





________________________________________

About Dreyer Group Smiles



Dreyer Group Smiles is a program dedicated to giving to facilities that provide safe and transitional housing to children and youth in the Fraser Valley of British Columbia. By providing funds to these programs, Dreyer Group will make a meaningful difference to kids who otherwise may not have a roof over their heads, or hope for a bright future.

Dreyer Group hopes to expand this effort through their clients and business partners. In addition, they plan to raise additional funds through annual events and corporate fundraising initiatives. Dreyer Group is working closely with the Salvation Army to allocate these funds to the children and shelters.





About Dreyer Group Mortgages, A Member of the VERICO Brokers Network



As a senior mortgage consulting team with extensive experience in the financial services industry and thousands of happy clients throughout the Lower Mainland, we understand what it takes to build long-term relationships through service and expertise. As an independent brokerage, we are not restricted to one financial institutions mortgage options. We provide the best range of financing solutions by accessing over 40 lenders and hundreds of products coast-to-coast.



Each VERICO member is an independently owned and operated business.

Copywrite © 2008





REFINANCING RATES or



NEW HOME PURCHASE



2.99 % 5 Year Fixed Rate



3.89% 10 Year Fixed Rate



LIMITED TIME - SPECIAL CONDITIONS APPLY - CALL 604 536-3802 to Book



More Rates



Email me now with the next person you know that needs financing



All rates quoted are on approved credit.













12 Tasks Killer Productive People do Before Noon





1. They make a work to-do list the day before.

2. They get a full night's rest.

3. They avoid hitting snooze.

4. They exercise in the morning.

5. They practice a morning ritual.

6. They eat breakfast.

7. They arrive at the office on time.

8. They check in with their boss and/or employees.

9. They tackle the big projects first.

10. They avoid morning meetings to keep their most productive time for work .



11. They allot time for following up on messages and proactive calls.



12. They take a mid-morning break.







Download Dreyer Group on Your Hand-held



Mortgage Payment Calculator



Income Qualifier



Purchase Finance Calculator



Get an Instant Hold and Quote for Your Client



Access Quick App to get your clients approval going



Blackberry and iPhone compatible.



Simply link here






Follow me on twitter






Follow my financial blog






Follow me on Facebook

Canada Mortgage Changes;Stay Calm

Well it has been a very busy month for anyone in the mortgage world. We are now two weeks into the new rule changes and lenders, brokers, realtor's, clients are still working out what they can do! In this time of confusion and a little fear, you need to remain calm. More then ever mortgage professionals will be needed. This is the time when leadership takes over and shines like a beacon to everyone.

As a mortgage professional that works full time, you need to keep up to date with all your lender partners, insurers and referral partners daily. Make sure you position yourself as the source to get the information and how to make help all the people involved.

These changes are going to have an effect on the amount of mortgage being done. There will still be mortgages, house sales being done everyday. People will adjust and keep moving forward. It is your job to help as many of those people as possible. Stay current, reinvest in yourself on a daily basis and take your time with your clients.

Title: Changes Announced to Effect Canada’s Housing Market




Jared Dreyer, President VERICO Dreyer Group Mortgages, President Mortgage Brokers Association of British Columbia (MBABC) – June 21, 2012



Summary: Jared Dreyer, Independent Mortgage Broker and Broker Owner of VERICO Dreyer Group Mortgages Inc. and President of MBABC highlights Mortgage Changes in Canada.



VANCOUVER, BC - The mortgage industry was caught off guard by government changes that are swiftly coming into effect July 9th, 2012. These changes however will ONLY affect purchasers who plan on putting less than 20% down payment on properties and are intended to support the long-term stability of Canada’s housing market overall.





Four measures were announced by Finance Minister Jim Flaherty who outlined these new rules impacting CMHC, Genworth and Canadian Guaranty; Canada’s high ratio mortgage insurers.





These changes speak to ensuring we have a strong first-time homebuyer who are building equity in their properties, soften debt exposure for Canadians and limit the loan to value ratios on higher priced real estate.



It is important to understand again that these current changes will NOT affect consumers providing a down payment of 20% or more.



CHANGES ANNOUNCED



1. Amortizations reduced to 25 years from 30 years. (on properties with less than 20% down payment)



EXAMPLE*:

A mortgage of $250,000 with a current 30 year amortization at 3.09% 5-year fixed rate = $1094.89 monthly payment

A mortgage of $250,000 with the new 25 year amortization at 3.09% 5-year fixed rate = $1227.54 monthly payment



Difference of $132.65 per month



2. Refinancing is REDUCED from 85% Loan-to-value (LTV) to 80% - no change to purchases. (It is important to note that most consumers currently choose to do refinancing to a maximum of 80% LTV to avoid insurance fees so this specific change should have very little impact)



3. Properties purchased over $1 Million no longer will eligible for mortgage insurance (If the home purchase price is under $1 Million dollars consumers can still purchase up to 95% LTV with insurance – anything over $1 Million dollars, 20% down payment is required).



4. GDS and TDS set at 39% and 44% - The reduction in amortization combined with the lowered GDS ratio could affect a number of people’s ability to qualify.







THE GOOD NEWS



The 5% down payment rule still remains in effect for property values under $1 Million dollars



These changes are an indication that interest rates will continue to remain low for some time. Interestingly, Ben Bernanke of the US Federal Reserve indicated a few days ago that the US may reduce interest rates further.





MORTGAGES CURRENTLY IN PROCESS



These changes will not affect mortgages already in place or approvals already issued by the lender.



It will however effect pre-approvals for purchases with less than 20% down with a 30-year amortization. The client will now need to re-qualify at the 25-year amortization.







As the mortgage qualification landscape becomes more complicated, it is critical consumers work with an independent mortgage professional that understand these changes and can help navigate the rules to ensure the best mortgage solution. www.dreyergroup.ca



*For sample purposes only. Rates are subject to change. On approved credit.



About the Jared Dryer, Dreyer Group Mortgages - Member VERICO Financial

Jared Dreyer, Accredited Mortgage Professional (AMP), is President of Dreyer Group Mortgage Brokers, a Member of the VERICO Financial Broker’s Network. With over 20 years of residential lending experience Jared is known as a consummate mortgage professional with the highest ethical standards.

A communicator, coach, leader and relationship builder, Jared leads one of the top mortgage broker teams in Canada.

As current President of the Mortgage Brokers Association of British Columbia (MBABC), and 2011 – 2012 Chair of the VERICO Financial National Advisory Council and 2011 – 2012 Director of the Mortgage Brokers Institute of BC (MBIBC), Jared works diligently to accomplish positive change within the mortgage industry.



About VERICO Dreyer Group Mortgages Inc

As a senior mortgage consulting team with vast experience in the financial services industry and thousands happy clients, Dreyer Group Mortgages helps clients make the right decision with their mortgage by providing a wide-range of mortgage options based on sound advice and expertise. Being an independent mortgage brokerage, Dreyer Group is not restricted to one financial institutions products and accesses over 40 lender mortgages coast-to-coast to shop the market and provide the best in mortgage solutions - helping clients save money and pay off their mortgage sooner.



-30-

A Temporary End to Turnip Rail

Dear all. It is with much sadness that I write this post.

On Monday I had my Thesis Advisory Panel, where, after much discussion, it was decided that I need more work on my PhD than could be done within the three months of my remaining registration. Indeed, I may even need to extend my work until Christmas. Consequently, this has left me very disheartened, as I was hoping to start a book in October.

*UPDATE* I have decided not to pursue a career as an author and have decided to go into academia full-time when my PhD is over. It is why I did the PhD and, ultimately, I'll have the opportunity to do the thing I love, research. I am not saying I will never write a popular book - just not yet.

However, this said, I am determined to get the work done as soon is as humanly possible (before Christmas hopefully). The problem with a thesis, any thesis, is by the end those doing them want to get shot of them. Indeed, while I love my topic and the subject matter, I feel that after six years it is time to move on. Therefore, to speed my work, I have taken the decision to virtually suspend working on anything new for my sites, 'Turnip Rail' and 'Turnip Rail's Waiting Room'. Given my lovely, loyal readership, this decision has not been taken easily, and I do feel I am letting down the people who like the site and who have made it such a success over the past two and a half years. I thank everyone from the bottom of my heart for their support. But I have to get the thesis done ASAP. My career, and my sanity perhaps, depends on it.

But I will leave you with this thought: Turnip Rail will return, you can be sure of it.

With Love

David

Did the Management Ever Control Britain's 19th Century Railways?

Alfred Chandler

The rise of what Alfred Chandler called the ‘visible hand’ of management has dominated the business history literature for forty years. Simply put, Chandler argued that managers came to dominate American business in the late nineteenth and early twentieth century. As technology was introduced to companies and markets expanded, their processes of distribution and then coordination became more complex as they increased in size. Consequently, this generated a need for better administrative control of the organisations’ activities, leading to the rise of the ‘visible hand’ of management. Indeed, as managers grew in number within firms, they increasingly steered their destinies, wrestling control of corporate strategy from companies’ shareholders, financiers and directors. Chandler called this ‘managerial capitalism.’[1]

In the United States this process occurred first in the railroads. When faced with challenges such as safety concerns, then the increasing volume, speed and complexity of traffic on the line, companies quickly developed hierarchies of railway managers to coordinate their activities, leading to the rise of the ‘visible hand.’ Ward argued that a situation had developed on the Pennsylvania Railroad by 1873 where ‘paramount executive authority had emerged’, directors were by then ‘pliant acceders,’ and shareholders were virtually impotent.[2] Indeed, there is no doubt that Chandler admired railroads, such as the Pennsylvania, where managers had seized control of the organisation, arguing they were the best managed and innovative. They adopted high-level strategic direction, with considerable authority delegated to operating units and complex administrative practices were developed.[3] Indeed, Zunz also argued similar of the Chicago, Burlington and Quincy Railroad, which he considered an exemplar of good management practice because it was controlled by the company’s management class.[4]

The question, therefore, is to what extent this process was replicated in the British context? How much control did British railway managers have over their companies’ directors and shareholders in the nineteenth century, and, ultimately, their destinies? Chandler argued that because of the nation’s smaller size British railway managers were challenged less than their American counterparts to develop new and innovative management techniques.[5] Therefore, this possibly implies that British railway managers did not secure the same level of control as some American managers. However, Channon countered this by arguing that British railway managers were challenged in different ways because of the country’s high-density, expensive and intensive network, which was, unlike in the United States, complete in its operating and physical details in a much shorter time period after the industry’s establishment.[6] Therefore, while not ruling out a rise of the ‘visible hand’ of management, this may suggest that a different pattern of managerial development occurred within British railways. Nevertheless, neither of these perspectives really answered the question of whether there was a rise in the ‘visible hand’ of management in the British railway industry in the nineteenth century.

No comprehensive history of British railway management before 1914 has been written. Therefore, I have had to compile what I know about the rise of the ‘visible hand’ from case studies. However, some historians have broadly attempted to assess when the railways’ management class, particularly within larger companies, came to dominate the industry’s direction. Cain argued that General Managers, who were usually at the top of railway companies’ hierarchies, were the most important decision-makers in the industry by 1870.[7]  Channon made a similar claim, stating that before 1870 managerial ascendency ‘cannot be assumed.’[8] I believe both were wrong, and using a number of case studies I will suggest that management cannot be said to have ascended into a position of control before the 1900s.

Richard Moon

Terry Gourvish’s book on Mark Huish, the London and North Western Railway’s General Manager between the company’s formation in 1846 and 1858, is an enthralling text. It relates the story of a railway manager who during his administration and after his death was considered ‘unscrupulous, dictatorial and Machiavellian’; controlling the companies' policies. At face value this would suggest he was the first ‘managerial capitalist’ in Britain’s railway industry. Yet, Gourvish’s research showed the reverse. He argued that while Huish had more control of the company’s policies than his contemporaries, he did not possess the ‘dictatorial’ influence in decision-making often ascribed to him.’ Indeed, his resignation was forced on him 1858 as he did not satisfy the board’s requirements regarding inter-company diplomacy.[9]

Archibald Scott

Indeed, it was the career of the man who instigated  Huish’s resignation, LNWR director Richard Moon, that truly shows that the ‘visible hand’ of management did not really control policy on the British railway network until long after it had on many American railroads. Moon was appointed chairman of the company in 1861 and stayed in the post for thirty years. Before his ascendency becoming chairman, he had a reputation for taking a highly detailed interest in most of the company’s operational affairs, even when they were beyond his remit. Indeed, most railways’ boards met twice monthly, with directors meeting in committees the day before. Yet, Moon would be active in the company’s affairs every day of the week. Thus, when made chairman his controlling instincts were let loose. His biographer, Peter Braine, described him as being ‘not only a managing director, but also effectively his own General Manager,’ throughout his chairmanship. [10] Indeed, the company’s General Manager between 1858 and 1875, William Cawkwell, was very much under his and the board’s control.[11]

But directors having control of companies’ strategic direction was not unusual in the period. Lord Salisbury, chairman of the Great Eastern Railway between 1868 and 1871, looms large in the company’s history. On his appointment the GER was in chancery. Yet, he successfully turned it around and it began paying dividends again in the 1870s.[12] On the London and South Western Railway, as I will explain in my thesis, policy was dominated by directors until the 1881 when they gave the General Manager, Archibald Scott, more ‘general control’ over the concern’s affairs.[13] However, even then he was still under their control and did not have a decisive role in corporate decision-making. Lastly, on the Great Northern Railway in the 1850s, 60s and 70s it had directors who ‘thought they knew more about the business than the company’s senior officers.’[14] Therefore, this would suggest that the dominance of company boards was still present in the industry as late as the 1870s.

Indeed, from the 1860s there also appeared controlling positions within companies which would now be described as managing directorships. In most cases the individuals taking these positions were ex-managers, who on retirement became controlling directors. The most prominent examples of this were Edward Watkin and James Staats Forbes. They were fierce rivals, with Watkin chairing the Manchester Sheffield and Lincolnshire (1864-1894), South Eastern (1866-1894) and Metropolitan Railways (1872-1894); while Forbes was chairman of the London, Chatham and Dover (1873-1898) and Metropolitan District Railways (1872-1901). Both men had served as railwaymen and then had moved onto railways’ boards where they dominated policy.[15] The other example of this was the managing directorship of the Daniel Gooch on the Great Western Railway. Gooch had been the company’s Locomotive Superintendent between 1837 and 1864, and when he resigned took up a position on the board. He then became the company’s chairman, and had a position akin to a managing director between 1865 and his death in 1889.[16] Furthermore, James Ramsden on the Furness railway also was in such a position between 1866 and 1883.[17]

Myles Fenton

But by the late 1880s the dominant power of railway managers was coming through more widely within the British Railway industry. Between 1885 and 1897, as my thesis will show, Charles Scotter was the dominant General Manager of the London and South Western Railway, controlling almost all aspects of policy, large and small. Cornelius Lundie, General Manager and Superintendent of the Line of the Rhymney Railway between 1858 and 1904, ran the railway as he wished with little or no reference to the board’s interests.[18] Even Watkin  relied on the General Managers at each of his companies for their safe and efficient operation. They were the SER’s Myles Fenton, William Pollitt at the MSLR and John Bell at the Metropolitan.[19] Indeed, Hodgkins argued that because Pollitt and Bell were rivals a proposed link between the MSLR and Metropolitan in the 1890s would have been difficult to arrange. Therefore, this suggests that despite Watkin’s domineering chairmanship of his companies, his chief executives still heavily influenced their railways’ policies.[20]

George Gibb

These cases were, however, only the start of a shift of towards the absolute control of the ‘visible hand’ of management within Britain’s railways. In 1891 George Gibb was appointed General Manager of the North Eastern Railway. Gibb reformed the company’s operations and, through dominating the company’s board and staff, dragged it into a position where experts acknowledged it was a model of good management practice.[21] But Gibb was just the first of a new breed of railway executives. Indeed, as a crisis hit the industry around 1900, as passenger, goods and revenue growth stalled, the cost of fuel and materials increased, and railway securities became less favoured as investment opportunities, the role of reversing  the industry’s financial situation fell onto the shoulders of executives.

After 1900 a raft of new and innovative managers came to the fore within British railways. Sam Fay, an ex-LSWR employee, became the Great Central Railway’s General Manager in 1902, and through his dynamic leadership transformed it from being a poorly performing to concern into one that, while never rich, made great advances and innovations in operational practice.[22] On the Midland Railway Cecil Paget, the company’s Chief Operating Officer, devised a whole new method of train control that added greatly to the company’s operating efficiency,[23] reducing delays to freight trains from 21,869 hours in 1907 to 7,749 hours in 1913.[24] Lastly, in 1912 Herbert Walker became the LSWR’s General Manager. Through dominating the company’s directorate he reformed its management and introduced electric traction onto its ailing suburban network.[25]

Of course, not all railways had General Managers that were as dynamic as these three. However, generally by the early twentieth century executives controlled the strategic direction of most of the largest companies within the British railway industry. Furthermore, the process of the rise of the ‘visible hand’ was also helped, as my thesis will relate and as Channon discussed,[26] by directors having less time to dedicate to the companies they served. Before 1900 the many took an active interest in their railway companies as they had little else to occupy their time. However, from around 1900, as the British corporate economy grew, they took on other external responsibilities, such other directorships. Thus, large numbers of directors were occupied by these activities, leaving vacuum of control into which railway executives could step.

Herbert Walker

Therefore, it is not surprising that on the formation in 1912 of the Railway Executive Committee, established to organise Britain’s railways in wartime, all its members were General Managers of the country’s largest companies. Indeed, the diminished role of the railway directors in the administration of the industry by that time was reflected by the fact that not one was present on the REC. Consequently, Britain’s railways in World War One was completely managed by the ‘visible hand’ of management,[27] the final proof that it had secured strategic control of the industry by 1914.

Overall, this survey [tentatively] disproves Channon and Cain’s claims that railway managers were universally important to British railways’ policies by 1870, and there was much variance in who controlled their direction. Overall, in the contrast with experience of the American railroads, the rise of the ‘Visible Hand’ of management occurred relatively late in the British context; only truly emerging after 1900. But why this was so?

I think that Chandler was correct to some extent in arguing that British railway managers were challenged less than their American counterparts because of the country’s smaller size. Despite the dramatic traffic growth throughout the century, the smaller size of British railway companies meant that there was never a point until after the 1890s when the internal administrative control required by them was beyond the ability of one director or their boards to organise. Indeed, the highly centralised management structures of British railway companies throughout the period, where decisions could be made by a small group of directors or managers at the top of the hierarchy,[28]  meant that dynamic and knowledgeable individuals, irrespective of whether they were directors or a managers, had the possibility of controlling their railways. Thus, this is why it is unclear before 1900 if management had 'ascended' within the industry. Indeed, one factor in an individual controlling a railway in the period was his personality; and all of the men mentioned were certainly characters. 

-------------

[1] Channon, Geoffrey, Railways in Britain and the United States, 1830-1940: Studies in Economic and Business History, (Aldershot, 2001), p.5

[2] Ward, James A., ‘Power and Accountability on the Pennsylvania Railroad, 1846-1878’, Business History Review, XLIX (1975), p.58

[3] Channon, Railways in Britain and the United States, 1830-1940, p.5

[4] Zunz, Oliver, Making America Corporate: 1870-1920, (Chicago, 1990), p.47

[5] Chandler, Alfred D., Scale and Scope: the Dynamics of Industrial Capitalism, (London, 1990) p.253

[6] Channon, Railways in Britain and the United States, 1830-1940, p.29

[7] Cain, P.J., ‘Railways 1870-1914: the maturity of the private system,’ in Freeman, Michael J. and Aldcroft, Derek H. (eds.) Transport in Victorian Britain, (Manchester, 1988), p.112

[8] Channon, Railways in Britain and the United States, 1830-1940, p.44

[9] Gourvish, T.R. Mark Huish and the London & North Western Railway, (Leicester, 1972), p.167-182

[10] Braine, Peter, The Railway Moon – A Man and His Railway: Sir Richard Moon and the L&NWR, (Taunton, 2012), p.477

[11] Channon, Railways in Britain and the United States, 1830-1940, p.44

[12] Barker, T.C., 'Lord Salisbury, Chairman of the Great Eastern Railway 1868-1872' in Marriner, S., Business and Businessmen: Studies in Business, Economic and Accounting History, (Liverpool, 1972)

[13] The South Western Gazette, December 1881, p.2

[14] Simmons, Jack, The Railway in England and Wales 1830-1914, (Leicester, 1978), p.247

[15] Gourvish, T.R., ‘The Performance of British Railway Management after 1860: The Railways of Watkin and Forbes’, Business History, 20 (1978), p.198

[16] Cain, P.J., ‘Railways 1870-1914: The maturity of the private system’, in Freeman, Michael J. and Aldcroft, Derek H. (eds.) Transport in Victorian Britain (Manchester, 1988), p.113

[17] Simmons, The Railway in England and Wales 1830-1914, p.247

[18] Simmons, The Railway in England and Wales 1830-1914, p.247

[19] Gourvish, ‘The performance of British railway management after 1860’, p.188-191

[20] Hodgkins, David, The Second Railway King: The Life and Times of Sir Edward Watkin, (Melton Priory, 2002), p.609

[21] Irving , R.J., The North Eastern Railway Company: An Economic History, 1870-1914,  (Leicester, 1976)  p.261-264

[22] Dow, Andrew, ‘Great Central Railway,’ The Oxford Companion to British Railway History, (1997, Oxford), p.191-192

[23] Burtt, Philip, Control on the Railways, (London, 1926), p.144-151

[24] Edwards, Roy, ‘Divisional train control and the emergence of dynamic capabilities: The experience of the London, Midland and Scottish Railway, c.1923-c.1939, Management and Organisational History, 6 (2011), p.398

[25] Klapper, C.F., Sir Herbert Walker’s Southern Railway, (London, 1973), p.33-76

[26] Channon, Railways in Britain and the United States, 1830-1940, p.187-188

[27] Pratt, Edwin A., British Railways and the Great War: Organisation, Efforts, Difficulties and Achievements – Vol. 1, (London, 1921), p.40-50

[28] Bonavia, The Organisation of British Railways,p.17-18