And pose a real threat. Yellowknife is now blanketed in smoke and fires are burning close to the one major road into and out of the city. Rebecca alty is the mayor of yellowknife. She told us what things were like there. Right now, its residents are evacuating by road. As many people as possible are doing that. Theres also, for folks who dont have vehicles, we are starting the air evacuations, so flights. We still have commercial flights, so some people have booked onto a commercial flight, but we have the Evacuation Flights also starting at 1pm. So getting folks registered for that just began an hour ago. So folks have been good, theres long line ups i think there was kilometres worth of a line up, so a bit of a snail s place out of town, its just one road in, one road out. That highway is where the fire is, so the highway can close. But right now, it is open. If the conditions change, if the smoke gets too heavy, if the fire were to approach the highway, the highway would be closed a
System and, of course, in china as well. I think what it means also is that amongst all of the various imbalances in the economy in china right now, the Property Sector might be the weight on the economy that lasts the longest simply because it is going to be such a slow slog in terms of restructuring this debt. We have seen pictures of unfinished buildings, families and even sometimes having to squat in those buildings because they cannot afford to pay the rent and pay their mortgage on these properties. What can china do to try to boost this up . Somehow the key to this issue right now is to complete Unfinished Projects because this will at least keep some of the financing flowing. As you mentioned, many, many projects are presold and the households that buy those properties, they make Mortgage Payments even if they are not able to take delivery of the product but as construction has come to a halt, they stop making those and that means no Income Accruing to the Property Developer th
Northwest territories terms. This place is twice the size of france, its got 16,000 people in it, so vast scales that were talking about. This is essentially three communities to the left of yellowknife. And you can just hear a float plane into the distance, by the way. This is the Mackenzie River behind me. Yellowknife under a full evacuation order, as you probably heard, yesterday. We came out here a day before because, to be frank, the writing has been on the wall for days that that wildfire was going to pose a grave threat. Ok, so theres a huge lake called great slave lake. Yellowknife is on the top of it. Then, at the other side of that lake its a very large lake you have two communities called fort smith and hay river. Together, they have got about 7000 people in them. On saturday and sunday last weekend, they were both told to evacuate. Thousands of people fleeing down the highway to alberta, where they still are. We have no timeline for when people might be able to get back to
Through the us legal system and of course in china as well. I think what it means also is that amongst all of the various imbalances in the economy in china right now, the property sector might be the weight on the economy that lasts the longest simply because it is going to be such a slow slog in terms of restructuring of this debt. We have seen pictures of unfinished buildings, families and even sometimes having to squat in those buildings because they cannot afford to pay the rent and pay their mortgage on these properties. What can china do to try to boost this up . Somehow the key to this issue right now is to complete Unfinished Projects because this will at least keep some of the financing flowing. As you mentioned, the many, many projects are presold and the households that buy those properties they make Mortgage Payments even if they are not able to take delivery of the product but as construction has come to a halt, they stop making those and that means no Income Accruing to