A discussion regarding VREAA at RE Talks led to me observing that there were remarkably few personal stories from Vancouver RE bulls on the internet. In response, arpakdel (RE Talks, 16 Mar 2010, 6:44 pm) kindly shared their story, which is archived here verbatim. It is an impassioned argument that demand for Vancouver is and will remain overwhelming. -vreaa
“Allright, here is a long one for your archives. It’s a bit of a story – my story, but it may just be right balance you need after posting the bit from that bitter woman that calls Vancouver a “second-rate backwater”:
I think the forces of the universe decided to first curse me and then to bless me. You see, because I was one of the unlucky 15 million people that was born into the city that ranks among the bottom 10 in the annual most-livable cities in the world survey. But then quite magically sometime later in my life, I find myself among the lucky couple of million that live in the metropolitan region that is consistently on the top of that same list – and funny enough, that city where I came from, although smaller in size than Vancouver, is already half the population of Canada.
But I would have settled for less than that. Hell, if I was put in just about any city in this mind-boggling massive country, I would have thanked the heavens and sacrificed the 30 goats I had pledged anyways.
And that may be my problem: I know what a shitty place to live in means first hand, and I shake my head when people living here just don’t get it. They can’t understand why a place like Vancouver will always be covetted by both insiders and outsiders. They don’t get that in our ever shrinking world, that means the demand for it will always be insatiable. For every one person that complains it rains too much here, I can find you 15 million of my country men that will smack in the face for not appreciating what it’s fresh air does to the body and soul. For everyone that will protest the politics of this blissfully free country, I will find you 15 million of my country men that will laugh and scorn how petty it is, because they grew up under the arbiterary whim of some beared ayotallah, and the boot of basij in their face. And for every one person that complains about the high-prices here and goes on and on about affordability and rental value analysis, the same 15 million will tell you the streets of their capital are littered with brilliant young minds with PhD’s in arm who can’t find jobs to pay half their rents and instead roam the streets each evening like mindless zombies, each day suicide looking more and more like a good vacation – and that is nothing to say of the 99% of the rest of young people who were not enough academic prodigies to even be able to get a seat in the extremely competetive universities or colleges.
But forget about that 15 million. The country is home to 70 million people. A small percent of that country is rich enough to buy their way into Canada. And what do you think they will do? They will buy homes. They will buy homes for themselves. And they will buy homes for their children. The other small percent will fight their way to Canada with teeth and nails…. and what will they do? Yes, they will buy homes, and they will buy them at market value. Your ROI, rental-value, forgone-oppurtunity analysis be fu**kin damned.
But forget about the country of 70 million people. Can you guess how many of the 4 billion in asia will want to live in a place like Vancouver? By 2020 the Vancouver region’s population is estimate to grow to 3 million. Some will move to Coquitlam, some will move to Surrey. They are coming, and they are not listening to your outcries that the prices for those “armpit sides of the city” are stupid stupid and that they are wrong for buying. While you scream, they will buy.
And you know what that means for you my dear friend? it will means increased demand everywhere.
Where people want to live and play, demand for real estate will always be there. And Vancouver is as prime as it gets. The formula that makes amazing is simple: take a country blessed with political freedom and economic riches, make a beautiful urban oasis along side a rugged coastal wonder, sprinkle it with mild weather, and voila. You have hit gold. Gold baby gold.”