The war of words is heating up in Vancouver's housing bubble.
Yesterday it was CBC's profile of Vancouver and today CTV picked up on the story.
"I hope people are listening. This message needs to be heard. Sales in August were pretty awful and they continued to deteriote through September. But you know what? This is going to be a year or two or three before we hit bottom. And I think the market could lose 30 or 40% of it's value."
"He's being saying this for like four or five years. So if you keep saying this then possibly one time you could be right and then you get to be a genius."
"That's bunk. In order to get dramatic change, dramatic drops in housing markets, there has to be... the market has to be pushed."
Next we cut away to Helmut Pastrick to pick up the theme dismissing a possible collapse as a result of rising household debt:
"It could only be the result of a major economic recession, a downturn, or perhaps a financial crisis, a political crisis, typically outside of BC's borders."
"The world doesn't need to change, the ground doesn't need to shift, interest rates don't need to pop up to have a cataclysmic correction."
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