This from “just call me anonymous please” via e-mail to VREAA 18 Jan 2011 –
“I was at Metrotown this evening, SALE signs everywhere (retail – a hint at the big picture ?). What is it? Boxing month?!
As a young (23 y/o) Vancouverite, I felt so alone before finding the [bearish RE websites]. I just kept thinking “Something is not right here, too much risk, don’t people worry?”. Everyone I know is sucking on the kool aid, it’s extremely comforting to know I’m not alone in my views. People truly are stupid, it seems they are just not too good at taking guesses at estimating possible outcome scenarios. People are shortsighted, they think NOTHING is possible, until it’s literally happening.”
Yes, we are aware that one can make the argument that the bearish Vancouver RE websites are like a cult, with posters and readers all reinforcing each other’s delusional views of coming RE collapse. But, we consider that argument carefully, weigh it, and discard it. There is far more evidence that the delusions are held by the far larger bullish-owner-speculator cult, who are apparently having to deny far more to maintain their false beliefs. Sample belief: “There is no relationship between income and the price of housing.” -vreaa