[news] Real Estate Bubble Inflates Over Vancouver

[Resist!ca]

"No wonder so many see parallels between the current housing market and the hi-tech market just prior to its crash in 2001. In fact, one of the prophets of that crash, Yale economist Robert Shiller -- whose book, Irrational Exuberance, was published just before the tech bubble burst -- recently stated on Report on Business Television that 'This is the biggest national bubble that the U.S. has seen in over a century'. This is 'not a sustainable situation,' claimed Shiller. Then Shiller directed his attention to Vancouver. The bubble was especially extended in 'glamour cities and glamour vacation areas,' he warned, and 'Vancouver is the most bubbly city in the world.'"

URL: http://resist.ca/story/2005/6/2/02031/17854