Quote:
Originally Posted by Yume-sama
AND, I didn't even touch on the fact we are the only ones with a temperate climate to host the games. People can see themselves living in 2 degrees, some may have a problem with -30 or below.
SO, pretty much, the only way we would be comparable to any other Winter Olympic city is if it was *just* Whistler hosting the games.
Some resort town, not that well known internationally, not too populated, semi-close to a major city. So Vancouver will have to wait and see what our impact will be 
We really can not tell by looking at other people. |
Okay. Beijing, Athens, Sydney, Atlanta. Did any of these cities boom as a result of the Olympics? What about real estate prices? Did Atlanta's real estate prices grow more between 1996 and today than Charlotte, Orlando, or Nashville? The answer is no. Have Athens real estate prices grown any more quickly than Sofia, Istanbul, Belgrade, or Bucharest? Once again, the answer is no. Will Vancouver's real estate prices over the next ten years grow any more than Calgary's, Edmonton's, or Regina's? No. In fact, given how far we are from fundamentals here, in ten years the median price of a home in all of those cities will have increased more than the median price of a Vancouver home.
A true barometer of the health of a housing market is "owners-equivalent rent." There are rental buildings all over the mainland trying to attract tenants with offers of a free month's rent and paying moving expenses. This is not a healthy real estate market. By this time next year, the Olympics will have come and gone and the real estate market will be based solely on fundamentals--as it always has been.