Vancouver Real Estate enecdote echive

Prediction For The Coming Decade: A Real Estate Bear Market Will Be Vancouver’s Defining Social And Economic Event.

A remarkable decade comes to a close. The dotcom bust, 9/11, the US sub-prime housing mess, extreme loonie volatility, failing forestry, commodity roller-coaster rides, the stock market crash of 2008, global recession. Each of these events affected Vancouver’s economy in an exceedingly limited fashion. The strength of the Real Estate market saw us through, and RE was without doubt the social and economic story of the decade. Now, factors threatening market health have steadily accumulated, and in our opinion they are approximating a critical mass. A virtuous cycle is about to turn vicious. All evidence suggests that Vancouver Real Estate is heading for a very significant bear market. Unfortunately, conditions have become so distorted that a simple return to normal will have profound and prolonged consequences for our city. The coming housing bust will effect all Vancouverites, and the fallout will not be good. For our city, this RE crash will quite likely be the defining social and economic event of the next decade. The factors in the drama are distilled below.

Vancouver real estate, buying into the million dollar hype.

Buying into the Real Estate Hype could put you down and out.

Vancouver, is touted as one of the best cities to live in the world. Many in society are wondering, is it?

One mantra that has inflamed many is; "British Columbia, the best place on earth".

Who spreads these mantras?

The politician no doubt, looking to either spread their mantra to the world as a source of pride or perhaps to get British Columbian's to buy into it?

The federal government of Canada's Finance Minister Jim Flaherty is looking to clamp down on home mortgage regulations, what many think as a safeguard for Canadians in debt.

Perhaps this mortgage regulation is geared to prevent a possible mirroring of a U.S. housing meltdown, Canadian style. The Bank of Canada have stated many Canadians are stretched to the limit financially.

Vancouver property set aside to stage security

Organizers of next year's Vancouver Olympics announced a deal on Tuesday to gain access to much-needed land next to key Games venues in the city center that will serve as staging areas for the event's heavy security.

Without the access to the 4.8 hectares of private land, which will also be used for traffic management and other back-up functions, athletes and spectators could have faced long delays in getting to and from sports events in the built-up city bowl.

"The ability to be operationally ready just took a big bump up," said John Furlong, the Vancouver Organizing Committee's (VANOC) chief executive.

"If we didn't have enough space ... people would have to come earlier and it would take longer because we have to follow very specific security protocols around the Games," he told reporters.

Real estate company signs sponsor deal to give space to Olympic organizers

VANCOUVER, B.C. - Space is the new frontier for Olympic sponsorship - real estate space that is.

Vancouver Olympic officials have signed a deal with national real estate company Concord Pacific Developments Inc. to supply some badly-needed space for the 2010 Winter Games.

The deal is valued between $3-and $15 million and includes a cash payment, as well as the use of 4.8 hectares of land in downtown Vancouver during the Games, just behind two key venues.

In exchange, Concord Pacific gets to brand themselves as an Olympic supplier and gets access to tickets and other marketing perks.

Had they not signed the supplier deal, cash-strapped organizers would have had to pay for the land to be used as staging ground for broadcasters and security staff, among others.

But with just over two months to go until the Olympics, John Furlong, the head of the organizing committee, says the deal allows them to focus on getting ready, instead of funding issues.

Vancouver resale home market surges 252% in November over 2008

Vancouver led the Canadian housing market in November existing home sales with a 252-per-cent year-to-year surge.

Victoria (+116 per cent), Toronto (+105 per cent) and Calgary (+67 per cent) followed close behind as Canada as a whole saw a 73-per-cent increase in existing home sales, according to the Canadian Real Estate Association.

Prices were also led last month by Vancouver's 22-per-cent year-over-year rise in existing home prices.

Nationally, the 73-per-cent jump in November from a year earlier came as the real estate market continued to recover from the economic downturn.