By Kevin Gaudet Thursday, December 31, 2009
http://canadafreepress.com/index.php/article/1847…

The political year of 2009 in Canada was – yet again – marked too often by hypocrisy and self-interest. Looking forward to 2010 there are many ways which politicians could raise the bar higher. Start with more honesty in politics, focusing on making Canada more prosperous, instead of only worrying about grabbing and holding on to power for its own sake.

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http://www.calculatedriskblog.com/2009/12/renters…

Best luck to all!

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Good article, it points out just how intertwined the housing market is with the entire economy. I was talking to someone the other day who believes that the housing market will have a hard time crashing simply because everyone, the banks, government, entire housing industry is determined to keep the market up and prices high. My argument is, well, it didn't exactly work in the US, did it? Eventually you'll run out of fools, like any ponzi scheme. Or so I hope.

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"Special buildings such as Museums, Mansions and Castles"

There's Van's next trick! We don't have a CASTLE yet! lolz

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Full Time Borrowers

Future Taxed Bozos

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http://store.steampowered.com/app/38080/

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http://patrick.net/housing/crash2.html

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The one thing that has always struck me about Vancouver is how transitory a large portion of the population is here. No one seems particularly invested in long term solutions that might require any effort. The province is CURSED with a boom-and-bust, get rich quick, mindset that has meshed to perfection with the housing bubble. That, coupled with an almost complete absence of any entrepreneurial spirit has created a perfect storm of speculations.

Those who have lived here more than a generations seem caught in a "company town" mentality – a passive mindset that sits and waits for those at the top to close or re-open the mine, fishery, or timber patch – except now the industry is RE, so everyone just sits around speculating on interest rates, housing values, whether or not the Olympics will jump start the market – instead of actually DOING THINGS like starting a new business, that might benefit the province down the road.

For this reason, Vancouver is royally screwed when the bust comes (just like it has every single time before).

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You are very correct that housing costs need to drop in BC to encourage economic growth.

I am one of many young Canadians that migrated west to take advantage of the economic boom. I might be one of many that won't stay cause I'm priced out of the housing market.

I've had discussions recently with other 25-35yos that are considering a move back east once the economy here starts to struggle or its time to start a family. It just doesn't make sense to take on high housing costs to stay here, or when the Olympic/construction job markets dry up.

The alternative is to flee metro Vancouver to the burbs of Surrey leaving behind the beach/mountains that brought us here. Might as well continue heading east, back to where we came and much cheaper housing costs.

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