“When you are buying your first house, you may want to pay special attention to where the closest Starbucks is located. ‘The Starbucks Factor’ is a remarkably accurate qualitative measure that is great at predicting where the next hot neighbourhood will be. Where Starbucks goes, that’s where real estate values are on their way up… They put massive amounts of money into researching that area to make sure they have a solid location. … The way to get the most out of this factor is to buy in a neighbourhood where there isn’t a Starbucks yet, but where there is likely to be one soon. It’s not exactly easy to figure out, but, if you understand neighbourhood trends and you have a realtor on your side who knows the areas that are appreciating at a faster rate than others, you can find the next up and coming area.”
- Andrew la Fluer, Toronto Realtor, self-posted video at youtube, 18 April 2012
This explains EVERYTHING about the Vancouver RE price run-up…
Joking aside, using this strategy may still result in you buying a house that then proceeds to plunge in price, but, at least you’ll have the consolation of knowing you have a large variety of refreshing coffee-based beverages close at hand.