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Tuesday, May 20, 2008

Just who's buying Vancouver's zillion-dollar condos?

The hottest ticket in Vancouver this week was not for a concert or a play, but a lunch hosted by the Urban Development Institute. And they call this place No Fun City.

The guest speaker was local condo merchant Bob Rennie, whose take on the city's unrelenting real-estate market is considered by many to be as reliable as government bonds. The event was sold out weeks ago.

To call Mr. Rennie a condo seller doesn't quite do him justice. In the past 10 years or so his company - Rennie Marketing Systems - has sold more than 10,000 units. Last year, sales totalled $1.5-billion. Not bad for a kid who grew up without much on the city's east side - long before homes there became million-dollar lottery tickets.

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