From Prices Soaring Towards The ‘Stratosphere’, To The Limits Of A ‘High-Water Mark’ – “Could these maps be a snapshot of the real estate market’s high-water mark?”

“For the last three years, Andy Yan, a researcher and urban planner with Bing Thom Architects, has been mapping the assessed values of single-family residences in the city of Vancouver.
You see his latest efforts here today. …
The question is, could these maps of Yan’s be a snapshot of the real estate market’s high-water mark?”

– from ‘Pete McMartin: The high-water mark of Vancouver real estate?’, Pete McMartin, Vancouver Sun, 2 Mar 2013

Perhaps of interest because this is the same Vancouver Sun columnist who just one year ago wrote:

“Vancouver, of course, will always be the centre of things in the Metro area. It has history and critical mass on its side. And by its very nature, it is going to attract people who want to come here and live in the city.
… the market will propel any kind of property here into the stratosphere.”

– from ‘Short commutes and easy access to an Ethiopian restaurant are not the natural order of things’, Peter McMartin, Vancouver Sun, 22 Mar 2012, as headlined at VREAA 23 Mar 2012

12 responses to “From Prices Soaring Towards The ‘Stratosphere’, To The Limits Of A ‘High-Water Mark’ – “Could these maps be a snapshot of the real estate market’s high-water mark?”

  1. Hmmm… HighWaterMarks?

    http://tinyurl.com/c464oto

    [NoteToEd: Depending on MotherNature’s mood… the Canyon ‘bottom’ can be an awfully long way down from the HighWaterMark. Funny thing about CondoTowers & Environs… the frequency with which they’re compared to ConcreteCanyons.]

  2. Ralph Cramdown

    Oh, VREAA, you missed the money quote, from just another hopeful Vancouver real estate speculator:

    Could the prohibitively expensive nature of single-family residences in Vancouver now be so onerous that it begins to transform the city with new forms of more affordable housing?

    “I just don’t know,” Yan said. “The data set isn’t there yet. If I did know, I’d be a rich man.

  3. Real Estate Tsunami

    The Bing and the Yan.

    • “The Tao that can be told is not the eternal Tao.” – Lao Tzu

      Thematically apropos to Orientalism’s InscrutablePearls ‘O Wisdom… your SundayFunnies/Zen, DearReaders…

      [#YouCan’tMakeUpThisStuff]

      [WaPo] – Obama grants pardons to 17 people for nonviolent offenses

      …”Among those pardoned was a Massachusetts fishing magnate who pleaded guilty more than 20 years ago to laundering Canadian fish and selling them to the Defense Department as American fish.”…

      http://tinyurl.com/aqr2a9j

    • Speaking of the Bing and The Yan… “ooops”….

      [WSJ] – Uncertainty Pushes China’s Property Stocks Down

      …”SHANGHAI—Chinese property stocks plummeted Monday following China’s latest property measures to curb exuberance in the housing market.

      Analysts and real-estate agents said they were awaiting further details on the measures, particularly a tax similar to a capital-gains tax. The State Council, or China’s cabinet, announced stricter property controls on Friday, days before the Tuesday kickoff of the National People’s Congress, the country’s annual legislative meeting.

      The State Council said authorities will strictly enforce a personal income tax of 20% on profits from home sales.”…

      http://tinyurl.com/bvm8b2z

      [NoteToEd: “Life is a series of natural and spontaneous changes. Don’t resist them – that only creates sorrow. Let reality be reality. Let things flow naturally forward in whatever way they like.” – Lao Tzu]

  4. Yan, IIRC has been pushing for more affordable forms of housing and away from the traditional and ill-suited single family home that served Vancouver well two generations ago but with increased population is a millstone.

    Here are Yan’s own words:
    http://www.btaworks.com/2013/03/02/the-erosion-of-vancouvers-one-million-dollar-line/

  5. So can someone overlay that data with the Rentheatmap.com data? [yes, the rentals and the SFHs are not the same underlying properties]

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