Andrew Bell

Anchor, Reporter

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Success consists of going from failure to failure without loss of enthusiasm - Winston Churchill

On this day in 1945, the British wartime leader stepped down after losing a general election to Labour’s Clement Attlee. Labour won on pledges to create  universal National Health Service  and a cradle-to-grave welfare state. Many voters were repelled by Churchill's claim that Attlee's plan would require "some form of a Gestapo" to impose.

Expect plenty of rhetoric and angry reaction today to B.C.’s move to slap a tax of 15 per cent on Vancouver homes sold to foreign buyers. “This is only a good solution if you feel that people who own homes should have the value of their homes decline,” ReMax Select realtor Keith Roy told us yesterday. “Everyone believes in affordable housing until it’s time to sell their own home.” 

But not all of the commentary is negative. “It’s a very reasonable step,”  Bank of Montreal chief economist Douglas Porter says. ”I think what’s gone on in B.C. cries out for some sort of intervention.” He thinks politicians should consider similar measures in other sizzling housing markets, including Toronto.

At  4:30 p.m. ET, we’ll hear from British Columbia Real Estate Association economist Brendon Ogmundson, who argued this summer that normal market forces are likely to slow the dizzying price rises in the region. “One would expect that without a major economic shock or significant change in housing policy, conventional market dynamics of supply and demand will take hold.” 

Meanwhile, Calgary’s sagging office market has been heading in a different direction – downward. “Near-empty skyscrapers” are said to be forcing landlords to offers sweeteners such as a year’s free rent.

We’ll get an update at 10:10 a.m. ET from Sandy McNair, number cruncher at real estate consultant Altus Group, who warned last month that "the Calgary office market is going to be soft for a while.”

At 4:15 p.m. ET, we’ll be joined by WestJet CEO Gregg Saretsky, who just reported Q2 results. Scotia calls the performance a "modest" beat but says investors want to hear about “London operations, including the competitive environment and 767 operational challenges.”

Online gripes about the service to Blighty include delays and a failure to keep passengers informed. “It seems they really seem to be struggling to get flights away on time,” one traveler said. 

And we always find flying such a carefree and luxurious experience. A wonderful way to meet people and stay cooped up with them for hours.

Finally, here’s a story that got us hungry. Scientists are asking if a substance dubbed “cockroach milk” could help feed humanity. A roach that gives birth to live young produces fantastically nutritious protein crystals to feed the adorable little critters.

Lattes all around!