How Is A Bursting Asset Bubble Like A Sinkhole?

A sinkhole opened up on Vancouver’s SE Marine drive on Sunday 12 Dec 2010. We featured an early picture of the beast in an earlier post.

Well, it has grown. As have estimates as to how long it will take to repair.

“Vancouver’s giant sinkhole on SE Marine Drive near Fraser Street likely won’t be filled in until Christmas Eve at the earliest, according [to] city officials. The city’s manager of street operations Murray Wightman says it’s taking longer than originally hoped to get the busy stretch of road drive-able again. “The plan for now is possibly by next Friday that we can come in and get a surface on the road and then get it opened up. It will be a temporary patch but we can get it opened up. Wightman says a permanent repair isn’t likely to happen until the end of January. The giant sinkhole 14 metres across and several metres deep opened up in the middle of the busy road on Sunday, but fortunately nobody was injured. Officials have yet to say what caused it.” – from CBC, 17 Dec 2010

How Is A Bursting Asset Bubble Like A Sinkhole?

Suggestions:
It’s kinda man-made but it also involves raw forces of nature.
Everything seems fine until the pie-crust breaks.
It’s far from clear where the bottom is.
‘Nobody’ is sure what caused it.
It’s very hard to repair.
It seems to have a life of its own.
Everybody is puzzled: Surely they can step in and repair this? What’s taking so long? Surely the authorities should get control and sort this out?

4 responses to “How Is A Bursting Asset Bubble Like A Sinkhole?

  1. We’ve seen it happen in other countries, but we never thought we’d see it here!
    http://www.vancouverpropertynews.com/bubble

  2. If Vancouver is like that sinkhole, then the US is like this sinkhole:
    http://news.nationalgeographic.com/news/2010/06/100601-sinkhole-in-guatemala-2010-world-science/

    The pictures are incredible.

  3. Vancouver Real Estate can be like a sinkhole. The big sinkhole that opened up in 2008 decided to close up again in 2009. Looks like mother nature repaired the Real Estate market at least for the time being.

    • Looks like mother nature repaired the Real Estate market at least for the time being.

      You meant to say: “The torrential rain filled the hole with sand and water.”

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