The definitive correction and other bullshit

My apologies for the obscenity in the headline but after Bob Rennie’s cussing on yesterday’s Bill Good Show, I felt I had no choice but to pay homage to King Bob’s verbal transgression. (In a response to an open-line call about pressure tactics, Bob said real estate agents should be called on their “bullshit.” Bill Good laughed and the caller hung up.)

On a normal day, this kind of event would be the sole subject of a post, but Thursday’s Bill Good was so jam-packed with quotable awesomeness, I need to move on to its other treasures.

It starts at the top of the program with CKNW money expert Michael Levy saying with certainty that he believes “we are into a DEFINITIVE correction” in the Vancouver housing market. A few minutes later, financial guru Michael Campbell shares less bearish views but concedes the high number of listings mean “we’re looking at a lid on price increases in our area.” In the middle of the mix is my idol Condo Bob. First he goes off on how “absorption is just numbers.” Later he’s mumbling mumbo-jumbo about how it always makes sense to own “the right place on the right street” but not “the wrong place on the wrong street.”

Then we hit this remarkable exchange between host and guest:

Bill Good: There are people who have felt so much pressure to buy because the market has been increasing so dramatically, they’re thinking that if I don’t buy today I can never save the $10,000 that it’s going to appreciate next month.

Bob Rennie: It’s been throughout history that you save up a down payment and you buy a starter home. You don’t buy way beyond your means — you get in. We’ve convinced you that you have to have a new granite counter with a Sub Zero in your first home. You don’t! You’re supposed to buy in and slowly move along. I think if you go to your parents and say I’m buying a house and I have no money down, your dad says you can’t afford it.

Words cannot express how devastated I am by this revelation. What do you mean, Dearest Bob, when you say we don’t need the granite countertop!?! After all these years of pumping up the virtues and luxuries of Vancouver lifestyle living, now you tell us we don’t need it! How could you?!

Bob, for all my criticism of this god-awful condo marketing business, I took comfort in your unwavering commitment to your condo product. Now you’ve confessed it’s bullshit — to use my new favourite expression — and I don’t know what to do. Once I called you on the condo hype, now you call it yourself. Bob, are you taking my job away from me?

Oh, Bob. Please, keep the hype alive. I need you to keep pumping so I can keep dumping. Without you, I am nothing. Like the Joker says to Batman, you complete me.

15 Responses to “The definitive correction and other bullshit”

  1. islander Says:

    So, is Ford supposed to stop running ads of their fast cars because “everyone” knows Ford’s are all crappy gas-guzzlers?

    Should The Province and The Sun stop selling ads because “everyone” knows NADBank numbers are grotesquely inflated and newspaper ad space criminally over-priced?

    Does your marketing department – wherever you work – stop spreading the word when “everyone” knows that whatever product you design/manufacture/sell is an unmitigated POS?

    Because that’s what you’re asking Bob Rennie to do.

    It’s up to consumer to separate the truth from the bullsh!t. Outright fraud? OK. If that occurs there are legal remedies. But to expect someone who makes his living selling stuff to stop extollling the virtues of his stuff is perplexing.

    By the way, love the blog. Your posts on condo ads are brilliant.

  2. Brian Says:

    Saying “my product is great” is one thing. What Bob Rennie and his slitherin’ cohorts have done to Vancouver is quite another.

  3. a at b Says:

    I wonder if the next wave of condo ads will start resembling VW ads from the sixties, promoting how thrifty and sensible their product is.

    Enjoy the blog and the great writing. Please continue.

  4. kablooey Says:

    Now that the party is over Condo Bob is getting a conscience. it’s almost biblical. Before you know it he’ll be admitting $600/sqft. is too much to pay for a 400 sqft. apartment overlooking a laneway in the DTES. If I were Bob’s lawyer I think I might advise him to leave town for a while and not talk to the media.

  5. RJB Says:

    The media and Bob Rennie are completely shameless. They will say anything for a nickel.

  6. jesse Says:

    Don’t hate the player. Hate the game. Ain’t no law against lying and spinning on CKNW; in fact it’s encouraged.

    My radio doesn’t even have an AM receiver in it.

  7. ex-vancouveriste Says:

    […] piece over at Condohype. Bob Rennie as much as admitted on air to Bill Good that he’s grown filthy rich overselling […]

  8. ds7777 Says:

    come to think about it, doesnt the guy in the next post look like bob?

  9. Next con? Says:

    islander Says the standard Realty Rhetoric;

    July 18, 2008 at 12:23 am
    So, is Ford supposed to stop running ads of their fast cars because “everyone” knows Ford’s are all crappy gas-guzzlers?

    Should The Province and The Sun stop selling ads because “everyone” knows NADBank numbers are grotesquely inflated and newspaper ad space criminally over-priced?

    Does your marketing department – wherever you work – stop spreading the word when “everyone” knows that whatever product you design/manufacture/sell is an unmitigated POS?

    Because that’s what you’re asking Bob Rennie to do.

    It’s up to consumer to separate the truth from the bullsh!t. Outright fraud? OK. If that occurs there are legal remedies. But to expect someone who makes his living selling stuff to stop extollling the virtues of his stuff is perplexing.
    =============================================

    WTF? The consumer expecting an honest representation of the product being sold perplexes you? Take a course in ethics.

  10. Larry Yatkowsky Says:

    Ah what the hell, give the guy a break. He’s just a home grown east side realtor with an incredible art collection who has the means to support the Vancouver Sun.

    Sorry, I’m picking up some negative vibes in that statement.

    Well then, on a more positive note, let’s think of him as a “humble peddler”. Ooops… maybe THAT is too much B.S. .>)

  11. Samantha Orwell Says:

    i love this blog

  12. condohype Says:

    Cool. Thanks Samantha. I thrive on the feedback. You should know that I’m a regular reader of your blog, and have been highly amused by the ongoing saga of your Ladner-Love. Even though I’m backing the Juice, I’ll admit that Mutiny Pete is up to the job.
    🙂

  13. Samantha Orwell Says:

    dear condohype-
    i’m quite moved by vision’s candidates, i must say. i did some selling out the other day to back david eby. http://thevancouvermanifesto.blogspot.com/2008/07/date-with-david-eby.html
    i gots love for him too =)

    geez, david eby PLUS aaron jasper (potentially the best looking candidate yet- with, yes, an equally hot wife) PLUS andrea reimer. Vision is doin’ pretty good for itself these days.

    if all goes as plans TheVancouverManifesto would love to see my hubby Ladner win with a Vision monopoly in the other seats.

    Keep up the good blogging. I can’t imagine it ever ending. There many condos with too many crapass ads.

  14. condohype Says:

    Vision’s council lineup is gonna rock. Raymond Louie, David Eby, Andrea Reimer, Aaron Jasper; they’re all killer candidates.

  15. Fly on the Wall Says:

    David Eby won’t likely get the nomination unfortunately (not as long as Vision doesn’t want to lose serious donors – ask Frances Bula), Aaron Jasper is running for parks board not council (and yes he’ll probably get in), and I don’t know a single candidate that actually trusts Reimer (yet according to Shared Vision, she is the golden child). But hey what do I know…

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