“My dad is a boomer and was a city planner for years. He left his job because of the insane amount of corruption within the department and because council was mostly made up of developers, real estate agents and the like. He couldn’t make a difference any way he tried and basically had a meltdown in the end.
My parents have a good retirement plan that does not include equity in any way. They would also have a spaz attack if they found out we were buying houses in this market. They’ve been talking about the bubble for years.”
– pips at VREAA 13 Sep 2012 10:53am
Some boomers see very clearly what has happened in the RE market in Vancouver, and have prepared accordingly.
Most, not so.
And with regard to city planning, see this comment from Snats, in response to ‘pips’:
“I have a masters in urban planning. While in graduate school I interned at a city and worked there a year afterward.
Since then, my professional track as been about me trying to distance myself from that stuff as quickly and throroughly as possible. Luckily I also studied real estate development at the same time which helped me move into the private sector.
Modern city planning is generally a collection of ideological positions about density and the morality of cars with very few hard facts or data to back it up. Planners tend to cite each other as sources, and if you follow the trail of expertise, there is not much at the end of it.
In my city, it is amazing the extent to which current planning dogma and developer/large property owner interests have become completely aligned. Planners are absolutley convinced they are “doing good” for the public while we subsidize development in any number of ways with tax payer dollars.”