The Globe and Mail: “The bloggers had it right”

An excerpt from Timothy Taylor’s column “The City: A biweekly look at life in Vancouver” on page L5 of the B.C. edition of The Globe and Mail:

Gallows humour, but no denying it: The bubble has now burst. And in B.C. real estate, it’s almost certainly not finished deflating. In a December, 2008, economic update, Royal Bank of Canada described the B.C. real estate market as being in “full-blown correction mode” and “unravelling fast.”

Meanwhile, bloggers are gloating. I’m talking about those real estate death watch sites such as Vancouver (un) Real Estate and Condohype.

After the Real Estate Board of Greater Vancouver called off its 2009 conference and trade show two weeks ago because of the downturn, the blogger-in-chief of Condohype wrote, “Too bad the party’s canceled because that activity sounds awesome. In my book, it’s an invitation to show up in my ‘The Blogger Was Right’ T-shirt with my dogs Case and Shiller. I’m devastated this can’t happen now.”

The sarcasm is perhaps a little undignified, but you can hardly blame them for feeling satisfied. They diagnosed market madness. And, with varying degrees of insight and eloquence, they were correct.

[“The upside to the bubble bursting: Sanity returns,” The Globe and Mail, December 22, 2008]

For the record, I agree with Mr. Taylor’s assessment except for one thing: I’m not sure if seeing the collapse has left me feeling satisfied. At least not on a personal level. (Personally, I wish the whole bubble never happened.) Sure, my blogger persona has nothing but self-appreciation pumping through his veins, but that’s part of the joke.

From the first post, Condohype has offered exuberant criticism in response to irrational exuberance.

I encourage everyone to read Mr. Taylor’s column. He’s a fine writer.

Image: Adapted from a photo by kootenayvolcano

16 Responses to “The Globe and Mail: “The bloggers had it right””

  1. jesse Says:

    “with varying degrees of insight and eloquence”

    Coming from a paper that writes to a grade 9 reading level. Well, better than nothing, condohype and solipsist.

  2. Not Pete McMartin Says:

    “The bloggers are right” says a Toronto newspaper. Bah humbug. Still waiting for the concession speech from the Canwest rags.

  3. Rennie Says:

    Good thing I paid them to misquote the URL as condohype.word-press.com which doesn’t exist. Don’t tell the old fashioned newspapers that URLs with hyphens are different than URLs without.

  4. bearette Says:

    And I’m still waiting for Rennie to admit it. Him and those 999 other people who are also wrong. VHB… you should gloat more.

  5. kabloona Says:

    CanWest will go bankrupt before you hear them concede anything….

    😉

  6. VancityAllie Says:

    Hey hey, congratulations on..

    a) Being right

    and

    b) Being featured in the newspaper! 🙂

  7. blueskies Says:

    a new phenomenon!

    the cranky blogger…..
    and getting noticed too! kudos!

  8. Peter Says:

    globe and mail is NOT a Canwest publication.. it’s CTV Globemedia.

  9. buffbutler Says:

    Codohype.

    Congradulations for the mention (im saying this almost every week now :P). Hopefully articles like these will draw more readers to alternate news sources such as blogs so people can read both sides to a story rather then quick summaries based on a persons vested interest.

  10. Chilled Says:

    Peter Says:

    December 23, 2008 at 12:40 pm
    globe and mail is NOT a Canwest publication.. it’s CTV Globemedia.
    ==
    I think that was the point exactly.

  11. Ulsterman Says:

    The sarcasm is perhaps a little undignified, but you can hardly blame them for feeling satisfied.

    Undignified? The sarcasm is what makes the commentary rich, punchy, and eye catching, unlike 99% of the writing in the MSM in Canada. If i have to read another postscript “explaining” that “the previous comment was meant to be sarcastic” i will scream. If you have to explain it…

  12. The Urban Dweller Says:

    Congratulations on the mention in the Globe and a Merry Christmas Condohype!

  13. solipsist Says:

    That is so sweet. Is it not?

    Like you, hypester, I derive little satisfaction – having always known better – and I too wish that the bubble had never happened. But here we are…

    Best of the season – Hannukah, Kwaanza, solstice, Christmas, Crassmess, whatever – to all, and to all, a good night.

  14. VHB Says:

    “VHB… you should gloat more.”

    Let’s just wait until the ‘W’ completes. Then I will assess how much gloating to do.

    Actually, my favouritest thing that could happen would be to have the signboards for ‘The Beasley’ at Homer and Smithe stay up for a decade, keeping watch over the vacant lot where the condo was supposed to be as the paint on the sign fades as the years pass. A fitting monument to LB, who helped in no small way to create this mess. Too bad there wasn’t a ‘The Rennie’ building that could suffer the same fate.

  15. The Globe and Mail: “The bloggers had it right” » BlockGarden.com Says:

    […] Source: condohype.wordpress.com […]

  16. The Globe and Mail: “The bloggers had it right” « mtippett Says:

    […] Source: condohype.wordpress.com […]

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