To ‘Jump the Shark’ – Definition: ‘the moment in the evolution of a phenomenon where it moves beyond the essential qualities that initially defined its success, and begins a decline in quality that is beyond recovery.’
Has the Vancouver RE market ‘jumped the shark’? Only in retrospect will we be able to identify an exact defining moment, but, in the meantime, we here suggest prospective candidates. We’ll update as necessary, and link via a sidebar graphic. Please post any suggestions/’votes’/nominees in the comment section. The envelope, please…
1. VANHATTAN
BC Homes Magazine runs a front cover asking “Are sky-high real estate prices turning Vancouver into the next New York City?” [August 2011]
2. Cam Good Helicopter Tour Of White Rock
Local condo salesman takes Global TV crew and local realtors with mainland China marketing connections on a much-publicized RE promotional helicopter flight over White Rock. [Feb 2011]
3. Vancouver RE Mention In U.S. Republican Candidates Debate
“Why is it Vancouver is the fastest-growing real estate market in the world today? They allow immigrants in legally, and it lifts all boats.” [7 Sept 2011]
4. This House On The Market For $3.18M
Sold 15 Feb 2011 $2,830,000 back on the market August 2011 with an ask price of $3,180,000 [August 2011]
5. Craigslist Offer To “Be Your Dinosaur” In Exchange For A Home
“This is the only way you will ever have your pet dinosaur, and the only way I will ever be able to acquire a house in Vancouver.” [Aug 2011]
6. Gangsters Move To The US To Avoid Vancouver RE Costs
“RCMP report suggests the dramatic plunge in U.S. house prices has caused some gangsters to re-evaluate whether B.C. is really the best place to do business.” [Aug 2011]
7. Only One UBC Employee Can Afford To Own A Westside Home.
Poster UnagiDon, using public info regarding incomes, and bank mortgage guidelines. [July 2011]
8. Moderator Of ‘Vancouver RE Bubble?’ Debate Wears ‘No Bubble’ Button
David Podmore, CEO of Concert Properties Ltd., wears ‘No Bubble’ button to RE industry insider debate he moderated at the Vancouver Board of Trade regarding “whether or not Vancouver real estate is in the midst of a bubble”. The panel, unanimously, agreed: ‘No Bubble’.[Oct 2011]
9. ‘Affordable Housing Plan’ Results In Apartments The Size Of Two Parking Spaces For $850 Rent Per Month
[19 Dec 2011]
10. Basement Suite In East Vancouver Sells For $590K
[24 Feb 2012]
11. Laneway House, 500sqft, For $270K, Not Including Land Cost
[29 May 2012]
12. Trump Brand Coming To Vancouver
A high-rise hotel and condo project on Vancouver’s West Georgia Street is being rebranded as the city’s first Trump tower. [17 Feb 2013]
Vancouver Real Estate Anecdote Archive 