Stephen Quinn, host of On the Coast on CBC Radio One, Vancouver, in ‘Glad you asked: pithy responses to [Vancouver] visitors’ FAQ’ Globe & Mail 28 Jan 2011 -
“[Vancouver RE] is expensive. The average price of a bungalow in the city is $890,000.
The cost of housing remains high because the Vancouver real-estate market is a pyramid scheme teetering atop a cloud of ephemeral hope and, simultaneously, eternal fear. If a single homeowner begins to doubt the prudence of their investment, the pyramid will collapse. Which is why there is a bylaw prohibiting homeowners from ever expressing out loud regret for their real-estate purchase. Regardless of how leaky it may be.”
This humorous piece taps the author’s unconscious and delivers up a perfect description of the Vancouver RE bubble. The reader comments on the piece are equally telling, most found the observations ‘lame’. As one dissenting commenter noted: ‘sometimes the truth hurts’. -vreaa