Vancouver RE Becomes A Canadian Metaphor For ‘Over-Priced’? – “The iPhone is way overpriced. Think real estate in the Lower Mainland of BC.”

“The iPhone is way overpriced. Think real estate in the Lower Mainland of BC … forget it!!”
– Timster in the comments below ‘The iPhone’s sexy, but ‘I save’ is far smarter’, Globe and Mail, 17 Sep 2012 8:36pm [hat-tip Makaya, who adds “Talk about obsession…”]

Is Vancouver RE establishing itself in the Canadian psyche as representative of something (anything!) that is over-priced?
Will the metaphor enter the vernacular?
– vreaa

7 responses to “Vancouver RE Becomes A Canadian Metaphor For ‘Over-Priced’? – “The iPhone is way overpriced. Think real estate in the Lower Mainland of BC.”

  1. Nah, it’s just become a Veblen Good, that’s all.

  2. I was at Kicking Horse Resorts, about 12 km outside Golden BC for a wedding over the weekend. Our family rented this house. for three nights. Not sure how much the total rent came to, but my girlfriend and I paid about $520 for 3 nights, and there were about 5 other people staying there. We paid by person, not by BR. So if you multiply $260 x 7 people, you end up with $1820 for a 4 -day, 3-night weekend rental (Friday afternoon to Monday morning). The bride and her friends rented another house (where the reception was also held), and the groom’s friends yet another. Other relatives rented other smaller houses & condos in the area. I can’t imagine that $1800 went very far in covering the expense of building and maintaining a $1,635,000 home, with $6196 per year in property taxes. Granted, it is off-peak right now.

    For Sale signs all over the neighbourhood. And construction too. I took some pictures and I’ll send them when I get time. Rumour is a lot of wealthy Europeans bought these, and now are selling due to the financial crisis in Europe. I have not done any research to confirm or refute that rumour.

  3. I’m very proud to live in a city that has the world’s widest bridge. How cool is that?!!!!

  4. To boldly go, of not to bold?

  5. That was just a test, and yes; the bold is stuck.

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