What is the rest of the world saying about Vancouver real estate?
Sometimes it's possible to get so wrapped up in yourself that you lose all perspective. When you exist in a vacuum long enough, you can sometimes forget how the rest of the world operates and no matter what impression you may have of yourself, perhaps others see you in a totally different way.
No one wants to be the hairy overweight guy on the beach in the speedo.
It's good to have a little self-awareness. As Plato said at some point - know thyself.
So. While some of you in Vancouver may see this city as the epicentre of luxury, sustainability and value, there are plenty of naysayers that believe that Vancouver is on the brink of disaster.
If you read the local papers, you’d think that the state of the market was in crisis mode. Hurricanes are crises, tidal waves, wars. The American real estate crash was a crisis. The reality is, perhaps all the drama that is going on in the press is nothing more than… drama.
Let's see how Vancouver is seen in Asia, the United States, South America, Russia, and India.
First off, let's address a few recent headlines from the Vancouver Sun. This is how we think of ourselves. It's all a tad histrionic.
Here is what they are saying in China: China's Paradise For Consumers Is Found In The West
China still sees itself as an economic powerhouse, and that links with Western cities such as Vancouver and Amsterdam are easier to connect with than ever.
Vancouver is the least friendly city in Canada for immigrants states the South China Morning Post.
The Times of India reports that while Mumbai and Delhi are some of the cheapest cities to live in the world, Vancouver is the exact opposite, being ranked at the most expensive place to live in North America.
In Argentina, the Buenos Aires Herald doesn't have a single thing to say about Vancouver real estate. They are much to busy enjoying Pope Fever.
The London Telegraph talks about how our 6 billion pound Olympic hangover is peanuts compared to the 55+ billion being spent in Russia right now in preparation for the events. They also talk about how the best luxury properties are in Whistler's ski resorts.
Finally, the LA Times, Moscow Times and New York Times have completely dropped Vancouver real estate from its international radar in the last year or so.
It appears that Vancouver's stabilization has done exactly the opposite of what the alarmists think would happen. Steady prices and a mild readjustment are simply not news. Despite decades of bears screaming 'hype' it appears that there is very little to say about the market. The state we are in, in fact, is a non-issue.
Now relax, and enjoy this city.