With the Vancouver media so consumed with local real estate coverage, you’d think it was in the news everywhere in the world. Scan the headlines outside of B.C. and the answer is clear: The world isn’t talking about Vancouver.
That said, every once in a while the international media does opt to join in on the fun. The International Herald Tribune took their turn last week. In a manner typical of foreign coverage, the article starts with a few fast facts about Vancouver’s rising prices before turning the whole thing over to the superstar realtors for commentary. Interviewed are Bob Rennie and Malcolm Hasman. (Perhaps Zoost hoped to chip in but had a “problem” with his phone?)
For their part, King Bob and Malcolm the Mogul share stories of spectacular success: Sales are ahead of projections, wealthy immigrants are eager to buy, it’s busiest market in 25 years, etc. But buried within the kibbles and bites is one revolutionary, absolutely astonishing quote. From the mouth of Mega Malcolm:
A lot of prices have been reduced to some degree… But the truth is, they were overly inflated to start with.
Coming from a top realtor, this is a revelation of epic proportions. It’s not everyday we hear something like this. In fact, up until this Spring with listings achieving record highs, it would be heretical for an industry official to speak with such negativity.
Ladies and gentlemen, the day of reckoning is coming. You have been warned.