Self Referencing Meta-Post – “The best indicator that there’s a RE bubble in Vancouver? The fact that there’s a RE blog (VREAA) that is basically dedicated to comments posted on other RE blogs.”

Anonymous at vancouvercondo.info December 4th, 2010 at 9:03 am
“The best indicator that there’s a RE bubble in Vancouver?
Nope, it’s not rent-value ratios, median income, affordability, etc.
It’s the fact that there’s a RE blog (VREAA) that is basically dedicated to comments posted on another RE blog (VCI)…
A blog about comments on another blog that basically consists of comments….nice.”

vreaa replied December 4th, 2010 at 9:10 am
“You make a good point, one that is not lost on many of us.
The fact that so many spend so much time thinking about the RE markets is itself an example of the misallocation of resources that occurs during a bubble.
We are aware of this.
In unusual times, people do unusual things.

[For the record, we source anecdotes from wherever they are available: RE blogs, news sources, e-mails directly to us, word of mouth, etc. VCI (vancouvercondo.info) is certainly our single ‘richest’ source for anecdotes. This is because it’s the most active discussion about Vancouver RE out there at present. ‘Anonymous’ is incorrect to imply that VCI is our sole source, but, we believe, is correct to point out that the simple fact that VREAA exists can be seen as further evidence of a bubble. In ‘normal’ markets conditions we certainly wouldn’t be collecting anecdotes. -vreaa]

5 responses to “Self Referencing Meta-Post – “The best indicator that there’s a RE bubble in Vancouver? The fact that there’s a RE blog (VREAA) that is basically dedicated to comments posted on other RE blogs.”

  1. not so many – only a few, who have pissed off at the market, express their frustration at the market.

  2. That is a funny graph…it’s funny how they assume that the 25-34 year olds living with their parents are doing so because they have low paying jobs. Couldn’t one also assume that it is because they have been priced out of the market?

  3. The other good sign is rising prices leading to an increase in demand.

    The only “valid” market that happens in is pure luxury goods, where the price tag is part of the inherent value to the customer. When houses become widespread luxury goods, look out.

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