"My Dad sold out of Kerrisdale in 2009 and Mom is in a big hurry to get back in. He is not and this leads to a bit of strife."

“i think my dad is really enjoying your blog. he sold out of kerrisdale in 2009 and mom is in a big hurry to get back in. he is not and this leads to a bit of strife. i left vancouver 20 yrs ago, had a front row seat to the dotcom bubble living in the bay area and also the us housing bubble. the wishful thinking and tortured logic about how “this time it’s different” is always interesting to read and understand. i think the one new thing about the van housing situation is the (unanticipated) magnitude of ham. there was a taste of this before with the migrants who feared hk going back to china would be business -ve. but, that was much smaller in scope and occurred at a time when the market was somewhat depressed still. the current version is maximally steroidal due to ww monetary easing. for disillusioned renters, when the world around has gone insane, all you can do is keep your head. when a society chooses to expend its resources wastefully, the result is ultimately detrimental to all, even those who believe themselves to have benefited. for nervous owners, i would sell unless you are willing to absorb a potential 50% reversal – there is still time for a few more to get out.”
- chubster at VREAA 2 Nov 2011 1:37pm