While some like to paint a picture of impending doom for Vancouver, The Urban Dweller always see the glass as half full. The real estate market will reach equilibrium after a dire 20% drop. International investment will continue to pour into our projects as the Olympics will showcase our city and attract even more individuals to our fair town. Further gentrification will take place along Main, Fraser, Mt. Pleasant and Strathcona pushing the middle class out in to the suburbs.
The current government and mayor will continue to pour money into social initiatives to aid the homeless and poverty stricken individuals to help them get up on their feet. However, the government will stop ghettoizing the Downtown East Side and build more social housing in the valley, namely Langley, Surrey and Haney. They’ll have jobs working at the Evergreen Line, Gateway Project, continual YVR expansion, the numerous downtown developments, East Fraserlands, Little Mountain redevelopment, Conventions, EA expansion, False Creek flats… the list goes on and on.
Tourism, investment and resources will flow as Vancouver is now on even more individuals’ radar. The new “clusterfuck” of a Convention Centre will employ hundreds and bring in wealthy individuals ready to stay the new Ritz or Shangri-La while they spend their money egregiously at Burberry, Le Crocodile and Carman Fox. Trickle down effect anyone.
Fuck it if the markets in complete disarray it easy to get pessimistic. But guess what, if you don’t panic you’ll be fine. Remember the crash of 87, I do (although at the time I was too young to care) as it was studied intensively throughout my University years. If you had invested a day before Black Monday two years later you would have been up. Keep in mind that was the worst possible day to invest. Same goes for Sept 10, 2001 and the same will hold true for the current market turmoil, as long as you haven’t poured your money into shitty companies.
You can either fall into a state of paralysis or you can get up and take action. Don’t just write about it from your Gastown loft, do something about it. You wanna help the homeless get your buddies together and do something. Even if it is small act, it’s still more of a contribution than any random commie rhetoric spewed on a website.
Here’s what you need to know, stocks are CHEAP, buy them if you can, but do your due diligence and just sit back and watch your money grow. Housing may be overpriced in the COV now, but you know what, ten years from now houses will be even more expensive.
Realize this, you got beaches, restaurants, skiing, mountains, beautiful people, shopping, great diversity, a mild climate, etc…save for a home or just rent if you can’t afford to own.Just have a plan and stick to it. Viz.