This from doubter at Rob Chipman’s blog 05.29.08 6:51 pm -
“I’m on vacation in New York City. Several things strike me about this city in comparison to Vancouver that make me wonder if the Vancouver real estate inflation/bubble (depending on your bent) isn’t almost all psychology/delusion (ditto). The first thing I noticed within 24 hours of being in NYC is that Vancouver has become a pretty miserable place. People are much happier, friendlier, and more relaxed here in The Big Apple. A related observation is that the percentage of people talking on cell phones or listening to iPods seems to be much, much lower than in Vancouver. People here actually walk around and talk to one another. That “walking around” bit is the next thing that seems to be an obvious difference. In New York, people are out and about. Maybe that’s partly because there are, you know, THINGS TO DO. There are places actually open after about eight o’clock. And, next point, those places don’t all seem to be professional sporting events. In fact, and this really surprised me, pro sports seems to be far more low key here. Museums and art galleries and plays and such outnumber sports stadiums by an amount that would absolutely stagger any Vancouverite going on about “world class city status” only being achievable by building yet another stadium (or Olympics venue, for that matter; NYC is probably fortunate to have lost out on 2012).”
Well, although I completely agree with Vancouver failing miserably on the “world class” city criteria, and agree that NY is a true world city which is one of the best cites in the world (second only to Istanbul) I think the author was suffering from one of those rare bouts of “luck” (extremely rare in New York) that one sometimes experiences when in the bubble of Manhattan. Newyorkers friendlier than Vancouverites!? Newyorkers speak less on their cellphones!? Newyorkers like sporting events (Baseball: Mets, Yankees; Hockey: Islanders, Rangers; Football; Giants, Jets; Soccer, Redbulls) less than Vancouverites (Hockey: Canucks; Football: Lions – what are they; Soccer: Whitecaps – hugh?). I wish that was the NY that I knew: traffic jams, noise pollution, horns honking, people screaming on the mobile phones, people running over others as they run up and down the street and in and out of the subway, madness almost every day of the week as the bars spill open with people supporting one team or the other (and violence between people supporting the city’s opposing team), and many many plays museums, and other cultural events that keep tourists busy. New York is the capital of the world. But like all capitals it is a big, dirty, expensive and unfriendly place. Vancouver is very, well, “provincial”. But still the most desireble place in the world to live for “provincial” people. And provincial people are always going to keep the real estate prices high.
i agree with david. i spend much of my recreational time on the seawall in false creek, north and south and lots of people say hello as we walk by. the seawall is always busy when the weather is nice and i notice the restaurants with outdoor patios are too. i love the ballet and attend often, it is always sold out…ditto with bard on the beach and other theatre. our city will continue to grow and remain a desirable place to live for sometime yet. i believe it will also continue to be expensive from a real estate viewpoint becuase of its geographical beauty and quality of life. in this world of turmoil, vancouver and canada will be a safe haven for international people to put their money.
Was Vancouver’s weather any better or worse the last time real estate prices crashed?
Next to “the Olympics will keep RE prices high,” the biggest myth I regularly hear about RE prices in Vancouver and Victoria is that our weather is so awesome that people will always want to live here.
Well, I’ve got news for ya. Compared to the rest of Canada, we’re milder but a lot wetter. And compared to that big portion of N.A. below us, we’re a LOT wetter, period.
I moved here for the weather, but at least four couples I know moved here and moved back. I think it’s over-rated as a factor. I really do.
The weather on the wet coast is only “good” if you really hate freezing cold weather. Most canadians don’t mind it since they’ve grown up with it. Sure makes Vancouverites feel better to say the weather’s so great though. Look out the window folks supposedly it’s June.
Islander, you are right about the weather: I could never understand the weather being “mild” in Vancouver. It’s cold. And wet. That “mild” climate only has resonance for people who come from other cold places (ie. Canadians, and American’s in Northern States, Nordic people, Russians, Mongolians etc!).
But that said, Vancouver has a hell-of-a-lot going for it for people that are “provincial” in outlook. Everytime I go back, my mouth drops at the “liveablility of the city” (or at least the downtown).
As for the olympics, although it might be a “myth” that it will keep the prices high, and it is certainly not enough on its own to keep the prices from “dipping”, it is no doubt a sign that the city is “desirable” in the “world’s” eyes and that it is a worthy of such an event. I don’t think anyone who knows what they are talking about can say with a straight face that Vancouver being flashed across the world’s TV screens everyday for the duration of the olympics, doesn’t offer the best advertising campaign imaginable for a city. If any of y’all spend time in Europe and see the ridiculous “advertisements” that cities around the world pay millions to have advertised on CNN, BBC, Al Jazeera etc, you will understand the importance cities and countries attach to advertising. The olympics will definitely contribute to realestate prices going up in the medium to long term.
Us sophisticated, cool jet-setters, (;p )will always chose New York, London or Istanbul over Vancouver but the billions of less dynamic people that are more interested in hanging out in mountains and living a “high quality of life” life, will definitely have Vancouver amongst the top two or three cities they consider living in. The Olympics will do amazing things for this image and bring coutless other’s into the city. Look at even little Calgary and the role of it’s Olympics in making it somewhat of a cool city. I would certainly chose Vancouver over Cleveland (the mistake on the lake), or Memphis, or even those disgustingly boring cities like Vienna and Stolkholm which are forever making the top of the list of “the best cities in the world to live”. And the olympics will make this known to all those looking to find “heaven on earth”.
Market trends go up and down, but in a city like Vancouver, you will never lose money in the long term if you invest in “desirable” places.
And John, I would look out the window, but I got sick of looking out in Vancouver (even in Yaletown no less) and seeing rainy “healthy living”, mountain equipment co-op jackets, Lulu lemon uniforms, and boring ass streets that empty of everyone except for heroin addicts and myth heads after nine pm.