Economy

Knock-on Effect: A secondary, often unintended effect. While I don’t typically write it down, I have often provided my thoughts about Vancouver’s real estate market when I speak to others in person. Vancouver has had a run-up in real estate for 9 years now, one of the largest and longest real estate bubbles ever. Oh, did I say “bubble”? Many people won’t admit that it is a bubble, and yet there is little else to explain housing prices that have doubled – nay, tripled – in nearly 10 years. This false wealth by rising real estate values has caused a lot of snobbery and abusive spending, causing inflation in many ways. ...