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]