Tag Archives: Olympics

Rumor that some OV units will be reduced by 20%.

“I’ve just had a re-freshing chat with that realtor who’s selling an investor-held unit in the Olympic Village. He told me that Rennie has applied to the City to have certain, hand-picked units at the OV reduced by 20%. This guy is very straightforward and has insight into how investor bulk buying works.”
– Posted by mac to Whispers from the Edge of the Rainforest at March 24, 2013 at 6:31 PM [hat-tip Whisperer]

Olympian Task – Buying A Home In Canada

“The next milestone in Olympic marathoner Reid Coolsaet’s life doesn’t involve running.
“I’m looking to buy a house over there,” he said, pointing to a row of backyards that lines Westdale’s Churchill Park.
The 33-year-old Hamiltonian returned home last week from the Olympics after a little bit of traveling.
But the London 2012 games didn’t work out as Coolsaet planned. He came in 27th.
“I already had a 25 at the World Championship so I thought top 20 was really doable,” he said. “Hopefully a top 10.”
Coolsaet said he was confident at the start of the race, running the first mile at a pace that would have medaled.
But at 26 degrees, it was a hotter day than runners expected.
“I faded bad in the last 5 km, but there were guys who faded worse,” he said.

– from ‘Olympic runner returns home to Hamilton’, CBC, 28 Aug 2012

Filed under ‘RE References In Popular Culture‘.
– vreaa

Olympics, Redux – “Part of the reason that people get grumpy about the games is inflated expectations: the Olympics are always mis-sold.”

“Part of the reason that people get grumpy about the games is inflated expectations: the Olympics are always mis-sold. First, host governments say that the economic benefits of the games will greatly outweigh their costs. Second, they claim that the games will inspire people to exercise more. Third, they predict intangible benefits from being in the global spotlight for a couple of weeks. The first two claims are rubbish; the third does not apply to London.” [Nor did it to Vancouver. -ed.]
– from ‘Rewards of the rings’, The Economist, 21 Jul 2012

“I agree buying today is insane, but the bears forget that there are legions of homeowners who are living mortgage free. So the market drops.. big deal. I am in for the long haul.”

“One thing most bloggers in here seem to overlook. There are masses of homeowners like myself, who like myself have shaved years off the mortgage monster and have only a few years remaining. We have been given a golden opportunity on financing with ultra low rates that probably won’t return for decades..yes, my old man use to tell me how in the early 80′s, 1st and 2nd mortgages were the norm, 11%-12% rates made you feel blessed.
So, I enjoy the remaining years of my mortgage with a locked in, juicy 2.89%…bought before the market lost it’s bearings – prices may have doubled, but I am loving where we live – mortgage free is just a skip away – and though some will hiss that being liquid is having cash – but I say – what if..just a thought, the world goes into a financial crisis (I know, that’s just crazy talk) and the currencies around the world become worthless toilet paper – hard assets will rule. Money won’t keep you warm at night if those digital numbers all of a sudden get wiped out.
I agree buying today is insane, but the blog dogs forget that there are legions of homeowners who are living mortgage free, investing in themselves and have the same long term investment strategy .. so the market drops .. big deal – I am in for the long haul…I came to terms that dedication and commitment will always prevail, and I climbed my own Everest and watching all the rest scramble below me.”

Just Park It at greaterfool.ca 12 Jul 2012 9:48am

Sure, there are a majority of owners who will sit tight through even a protracted downturn. Bulls forget that bears expect that. Prices are set at margin, and it only takes for a small minority of owners to become anxious sellers for a price crash to occur.
Furthermore, some owners in the same position as ‘Just Park It’ underestimate how much the market price of their house has come to mean to them. This is one of the perversions of the bubble… regular citizens get distracted by the mania; they change their outlook, their plans; perhaps even at an unconscious level. They anticipate that, if the market drops, they’ll simply shrug and think “big deal”. But then it happens and they notice the unsettling effects. Some will even surprise themselves by rushing to market to attempt to lock in what then remains of their paper gains.
– vreaa

It’s Official: No Longer “Best Place On Earth” – “Best Place on Earth” was a “broader brand” used only in B.C. “to help motivate British Columbians.”

In April 2007, VANOC CEO John Furlong (left) and then Premier Gordon Campbell unveiled licence plate naming B.C. ‘The Best Place on Earth.’

“BC No Longer Calls Self ‘Best Place on Earth’.
The boast is vanishing from official branding. Where did it go, and why?

The “Best Place on Earth” and the sunshine-and-mountains logo (is it setting or rising?), was launched in 2005 and registered with Industry Canada’s Canadian Intellectual Property Office the following year. It appeared on ICBC’s Vancouver 2010 Winter Olympics licence plates in 2007, replacing the traditional “Beautiful” above a photograph of Mount Garibaldi and the VANOC inukshuk logo.
But something funny happened on the way to the biggest show on Earth. When Campbell put on his salesman-in-chief hat and attended the Beijing Olympics in 2008, he called British Columbia “Canada’s Pacific Gateway” instead of the “Best Place on Earth.” With a pinch of sarcasm, I asked him, why? If B.C. is really the best place anywhere, why not tell the world?
First the world has to find B.C. on the map, he said.
Jobs, Tourism and Innovation minister Pat Bell offered few hints about the slogan’s fate when he was grilled by NDP critic Spencer Chandra Herbert in a May 5 budget estimates debate.
“Yes, I am proud of the province and I think it’s the best place on earth, but it was probably not the best way to attract people from other parts of the world who think their little section of the world was the best place on earth,” Chandra Herbert said to Bell. “I’m just wondering: is ‘best place on earth’ shelved for now, and we’re now not going to see that anymore, and we’ll see ‘Super, natural B.C.’ in its place?
Bell answered that “Best Place on Earth” was a “broader brand” used only in B.C. “to help motivate British Columbians.”

Since Premier Christy Clark’s March swearing-in, the bold advertising slogan of the Gordon Campbell era has slowly and quietly disappeared from government websites and letterhead. You can still find it if you look, but blink and it could be gone.
How could a province with a misery-filled neighbourhood like the Downtown Eastside and a nation-leading child poverty rate ever call itself best-on-Earth in the first place? How did the politicians and bureaucrats decide to deep-six the slogan?
The decision, I am told, was not even of the “back-of-the-napkin” variety, because no scrap of paper was used to record it.

– Bob Mackin, TheTyee.ca, 4 Oct 2011
[hat-tip Nemesis]

So, now we understand. We have always been puzzled by the claim, this explains all.
The slogan was not an actual claim that BC was the “Best Place on Earth”, it was used “only in B.C., to help motivate British Columbians.”
So, citizens of BC, how does it feel to have been treated all these years like children; like the second to last team in the local Under-7 hockey league?
The real problem is that many folks lapped it up. And, relevant to us here, it helped push them to reach for that much more debt, so they could overextend even further to buy that much more unaffordable ‘BPOE’ real estate.
“C’mon, you can do it, you can do it… Bid another $75K beyond your means! You can do it! Stretch, stretch…!”
– vreaa

UPDATE: More on this story from Doug Ward, Vanc Sun, 7 Oct 2011
“My initial reaction is ‘hurray,'” said Peter Williams, director of Simon Fraser University’s Centre for Tourism Policy and Research, about the slogan’s demise.
“It was presumptuous. If it was meant to endear people to us, it probably wasn’t going to do that given that a lot of other people live in other parts of the world that are pretty nice. And probably quite competitive to B.C. in many senses.”

[Off with his head! -ed.]
Government communications director Greer said the slogan was aimed at British Columbians and not for a global market. “It was more of in-province pride thing.”
[See: appropriate for 6 year olds, above. -ed.]
“Canada Starts Here” is also the brand used in the marketing of Clark’s new jobs strategy.
[Actually, wouldn’t it be just as accurate to say “Canada Ends Here” ? -ed.]
B.C.’s tourism brand continues to be the venerable “Super Natural British Columbia.”
SFU’s Williams said the “Super Natural British Columbia” brand has gone through “many reincarnations but it’s held up pretty well and I thought this ‘Best Place On Earth’ was creating some confusion in the marketplace that we didn’t really need.”

[Whereas “Super Natural British Columbia” was a big hit with visiting goblins, gremlins, elves and apparitions. -ed.]

Steak = Overpriced Condo; Sizzle = Vancouver ‘Safety’ : “The broader asset is Vancouver.”

Voice over: Tuesday Bob Rennie launches the sale of the section called ‘Sails’… Bigger units, bigger views, bigger prices… from half a million up to two million dollars.
Reporter: How do you go about doing something like this when there is such financial turmoil?
Rennie: You know… we can start… we’re talking about the asset called ‘The Village’, but the broader asset is Vancouver… If you want to take money out of volatile markets, Vancouver is looked at as a very safe place to put money.
– excerpted from Global TV ‘News’ piece on RE selling in Surrey and the Olympic Village, 24 Sep 2011 [hat-tip Greenhorn]

“The broader asset is Vancouver” – Bob Rennie, Rennie Marketing Systems, Global TV ‘News’ (2011)
“Don’t Sell the Steak — Sell the Sizzle!” – Elmer Wheeler, Marketing Expert, ‘Tested Sentences That Sell’ (1937)

People are poor at assessing ‘safety’ when it comes to investments.
Assets that have shown apparent strength because of massive speculative momentum, are actually the least-safe place to attempt to invest.
Vancouver RE will look safe until it doesn’t, and demand will then quickly disappear.
We’ll find out what it’s like to participate in the downside of volatility.
Steaks will once again become steaks.
– vreaa

Olympic Village Update – A Waggish Resident Expresses Their Frustration

– Seen posted in one of the Olympic Village buildings. Photo from ‘zerodown’, via e-mail to VREAA, 6 Sep 2011.