Take a look at this chart and tell me if it looks like a bubble to you:
What does this graph show you ask? Thats the number of ‘bad news’ bearish bubble blogs focused on the BC / Lower Mainland / Vancouver real estate market over the last couple of years.
1) March 2005: Vancouver Housing Blog
- – the original and still the key source of data on Vancouver housing bubble info and economic analysis.
2) Nov 2005: Rob Chipmans
- – not actually bearish, but I give him half a point for being somewhat open to the naysayers and sharing data.
3) June 2006: VancouverCondo.Info
- – Hmm.. Hey that’s me! You are here.
4) Oct 2006: Vancouver Unrealestate
- – Solipsist brings more humor and a personal touch to the realm of those who just want a home to live in but aren’t willing to pay double the rent value for it.
5) Dec 2006: BC Housing
- – “uncertain buyer” just sold his house and is watching prices slide down for the last few months. He’s looking for indicators that its a reasonably good time to buy in the interior.
6) Jan 2007: Financial Planning and Personal Sanity
- – A financial planner / home owner in langley examines the downside of the BC market with a focus on graphing past market data and drawing connections to the current market.
All of these blogs are updated regularly, most every day or two. See that upswing in the last four months? Clearly this growth is unsustainable – it looks like we have a ‘bubble blog bubble’.
I will say one thing though: With all this focus on the Vancouver market anyone doing the most minimal research should not be caught off guard if real estate prices continue to drop for quite some time.
Now if you’ll excuse me, I’m off to make the big bucks. I got a tip about an internet startup that will be selling pet food online. Looks like a sure thing!