Scotiabank’s “You’re richer than you think” campaign is a potent reminder of the ideology driving Vancouver real estate into oblivion. You see, it turns out you’re not richer than you think. Not even close.
With this cat out of the proverbial bag, Vancouver home values are dropping at about two per cent a month. Suddenly, a corporate promise of limitless luxury comes across as insult rather than opportunity.
To see this first hand, go the movies and wait for the Scotiabank ad to draw the crowd into a fury. At the screening I attended, a pack of moviegoers shouted obscenities before one hurled his beverage in revulsion. (The “thrower” soon picked up the cup and got a free refill. Classy guy, I know.)