bhtbg at vancouvercondo.info 29 Apr 2010 10:26 am -
“Last night “it” happened to me. Out at dinner with several sensible professional well-paid collegues. Conversation eventually drifted to RE and house prices. Some owners beaming with delight that their east van property was worth 1mil, others sheepishly lamenting that they could never afford to enter the market at today’s prices. Me saying it will crash hard, don’t worry. Then word-for-word the arguments in earnest 1. It’s different here, 2. They’re not making any more land, 3. everyone want’s to come here 4. it will never go down. I wouldna’ believed it if I had not heard it.”
A. It’s only going to crash after I finally buy a property.
B. At these prices I’ll never afford to buy a property.
C. It’s never going to crash.
the first 3 are right on the money. it’s no wonder prices kept going up.