“This is speculation made by spineless, signature-less, individuals on a blog that in most cases has less than 500 followers. Vancouver’s real estate fundamentals cannot be captured in a 90-second elevator conversation, a sound bite, and especially not on a blog or 140-character tweet.”
– Bob Rennie on negative market commentary, in the current ‘New Condo Guide’, a free RE-promotion document available at corner dispensers throughout the city.
[hat-tip RaggedyRenter at VCI 29 Jun 2012 11:32pm. See that VCI thread for discussion.]
Vancouver RE bulls are forced to contend that the market’s fundamentals “cannot be captured” for the simple reason that the metrics simply do not withstand an scrutiny whatsoever. That can readily be demonstrated in brief posts, and has been done so repeatedly on the bear blogs. In fact, we suspect that, if pressed, one could indeed make a convincing bear argument in 140 characters or less.
Bulls need to resort to hand-waving and magic to argue for ongoing market strength.
It is noteworthy that Bob Rennie has seen fit to even mention the existence of bear blogs. This likely reflects the market’s increasingly precarious health.