Laadies aaand Gentlemen! Step right up, one and all and ride the bubbliest market in North Americaa!. The Great Vancouver Real Estate Roller Coaster is now open for bizness! Experience the thrills! The Spills! The mind-boggling economic waste of it all!
Front row seats for you only my friend, here’s your tickets:
Pope. Well done.
Beautiful work and right on time, too.
Maybe I should have this video running on my waiting room TV.. on second thought, scratch that, I wouldn't want to keep calling ambulances for all those strokes and heart attacks!!
Fantastic video. I expect the first criticism from Bears will be that it does not take into account inflation and therefore does not represent actual losses that would have been incurred by investors.
. I expect the first criticism from Bears will be that it does not take into account inflation
It does. Note the decline 1975-1979. Nominal prices were almost flat over those years, but real prices fell due to high general inflation (~10% p.a).
That's the only time BTW that a RE bubble in Vancouver was deflated without falling nominal prices. But the degree of that bubble was far smaller than subsequent ones, and wages were increasing strongly over that period, i.e. price/income fell a lot.
Oh BTW the rationalization for the preceding 1973-75 bubble was the introduction of the Agricultural Land Reserve. Same old, same old.
Bravo, this is a thing of beauty.
Wow, awesome! How did you do that?
You forgot an apostrophe on "dont" near the end. If this thing goes viral you will want proper grammar. Well done.
That is spectacular. I loved the Harbour Centre off to your right, a nice touch.
This will be going viral. I was amazed how quickly crackshack or mansion spread…and this is much more entertaining.
Two thumbs up! Same as vanguy, I thought Harbour Centre was a nice touch, as was the grey weather, befitting the Best Place on Earth! I can't wait to see where the future takes us!
epic!
Good job!
I saw on this morning's Global News, the latest Remax "report" that luxury home sales are UP!, yes, UP! across Canada!
"This points t a solid recovery in the Canadian economy", said the newscaster.
Now I KNOW the future is bright.
Thanks all!
@paulb: NoLimits coaster simulator. I laid a grid over the CUER graph and matched that in the NoLimits CAD interface.
@Anonymous: Argh. Thanks for pointing that out. It takes a while for revisions so I won't be able to get that fixed right away.
Fix it when I can, spot any other typos?
In a couple of days we'll be doing an open format interview with Petr and Ola, the creative duo behind Crackshack or Mansion, so start thinking of questions you'd like to ask them. (don't ask them here yet). Highest rated comments on that thread will get sent on to them to answer.
Genius!
wow. Brilliant video, gets the message across so well.
(I've been lurking on this site for a couple of years but had to comment today for the first time because that video is awesome).
Superb.
Well done, Pope, many thanks.
This video kind of destroys the bear case since it shows real estate only going up in the long term.
@tomvu: You're right and since you're so smart it means you aren't fooled by this. Get out there and buy now! Even if we are at the top of a bubble prices could recover within 25 years, so as long as you don't have any maintenance or interest costs it's all profit after that!
@Kraft Dinner!: Kind of like how renting is free right loser?
Great video!
Well done video. It's amazing how effective the roller coaster first person perspective is. That last dip near the top is a neck snapper!
Excellent work there Pope. Must have taken a lot of time and effort!
If this goes viral, it might put a lot of stress on the blog's servers… Which is good.
Regards
arit
The only thing I would think to add is say pictures matching up to the years. Such as Bill Vanderzalm and Fantasy Gardens, Expo 86, Glen Clark fixing his wood deck, commonwealth games, olympics. It just puts a little more meaning to the Vancouver experience. But having said that:
FANTASTIC JOB!!!,
Only nominal prices matter if you are in debt.
Is there a roller coaster with unadjusted values?
Another rate increase folks….RBC up by 15 bps.