To: bart13 who wrote (115967 ) 1/30/2016 7:27:31 PM From: John Vosilla Read Replies (1) | Respond to B.C.’s real estate boost comes with peril, say economistsReal estate and construction combined make up a quarter of B.C.'s GDP, more than any other industryBut some economists and politicians are questioning how rosy that picture is given the province’s reliance on real estate and the B.C. government’s stance on housing affordability. Compared to other Canadian cities, Vancouver’s housing market is uniquely unbalanced when home prices are compared to median incomes. Based on the trend that is happening in places like California, New York, Sydney and Hong Kong, in which wealthy people from emerging economies seek to stash money in real estate as a safe haven, British Columbia should be proactive about tracking and responding to the phenomenon, said Tom Davidoff, a professor of economics at UBC’s Sauder School of Business.” https://www.biv.com/article/2016/1/bcs-real-estate-boost-comes-peril-say-economists/ Is crazy construction cranes in all our global gateway cities building lavish high end condos sitting vacant changing the skylines like nothing seen since the 1920's here in the USA even as the high end has really started to slow down in a major way. Maybe Elroy comes up with another fundamentals are strong but you and me are jealous cause we can't live there and btw the ghost of Reagan is mostly to blame yada yada instead of a host of other factors. Never heard this kind of talk from him/her? the prior bubble. Just proves all these political ideologues are on trick ponies unable to think independently.. We got some gilded age supercycle top going on you see at most once in a lifetime.. More than likely the likes of Dubai, Bejing, Vancouver, Sydney and Hong Kong see little if any new construction for decades as well when the shit hits the fan.. What happens to commodities already at depression levels once this building boom ends?
