Wednesday, October 3, 2012

Wed Post #2: Global TV Reporter declares "Vancouver Asset Bubble has burst"

Global is out with a story covering the dismal September real estate sales numbers and the Vancouver market is portrayed as having entered 'the Big Sleep'.

But as you check out the clip, take note of the reporter's comments near the end of the story:
"Many have felt Vancouver is overdue for a dip. The frenzied demand from last year is long gone possibly, some believe, because foreign demand has waned. Whatever the reason, the asset bubble that many worried was building - has clearly burst."
How many thought you would ever hear a reporter on Global TV make that statement?

(hat tip to LM. Thanks to GreenhornRET for uploading the clip to You Tube)


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  1. But still no prediction of a crash, just a cooling or leveling off. And then a 7% increase next year? Is he dreaming?

  2. Yeah, I couldn't believe he said that. Was he serious?!?


    Just made me smile about TREB comment about "Sep working days adjustment"numbers.
    This is just insane!

    By the way, what annoyed me most while I was reading this FP article was pop up ad. of BMO, Vancity, Coast Capital, and Mortgage broker in this website. (I live in BC)
    No wonder why very few articles can say where RE market is really trending. Sigh...

  4. That real estate board guy never once says the word "down." Hilarious. Like it isn't even possible for prices to drop.