{"id":92,"date":"2005-04-26T07:47:48","date_gmt":"2005-04-26T15:47:48","guid":{"rendered":"\/?p=92"},"modified":"2005-04-26T07:47:48","modified_gmt":"2005-04-26T15:47:48","slug":"vancouver-bubble","status":"publish","type":"post","link":"https:\/\/www.ubertor.com\/blog\/2005\/04\/26\/vancouver-bubble\/","title":{"rendered":"Vancouver Bubble?"},"content":{"rendered":"

Niall McGee
\nROBTv
\n221 words
\n26 April 2005
\n The Globe and Mail
\n B17
\n English
\n All material copyright Bell Globemedia Publishing Inc. or its licensors. All rights reserved. <\/p>\n

Yale economics professor Robert Shiller is known for making the right call at the right time. His prescient book Irrational Exuberance was published weeks before the tech market crashed in March, 2000. The second edition of that book sounds a warning call on the North American real estate market. <\/p>\n

\u201cThis is the biggest national bubble that the U.S. has seen in over a century,\u201d Prof. Shiller told Jim O’Connell on Report on Business Television. He says a violent correction is imminent. \u201cWhen people are flocking into the housing market buying more and more houses, it’s not a sustainable situation.\u201d <\/p>\n

The bubble is building in \u201cglamour cities and glamour vacation areas\u201d in the United States and Canada. Ominously, Prof. Shiller says that \u201cVancouver is the most bubbly city in the world.\u201d He says that city has a history of volatile housing prices but he doesn’t see the same level of bubbliness in the rest of the country’s housing market. <\/p>\n

However, Prof. Shiller can’t say when the North American real estate bubble will burst. He says it tends to be a \u201cpsychological phenomenon\u201d and \u201cany bubble is a tug of war between the enthusiasts and the doubters.\u201d <\/p><\/blockquote>\n

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Niall McGee ROBTv 221 words 26 April 2005 The Globe and Mail B17 English All material copyright Bell Globemedia Publishing Inc. or its licensors. All rights reserved. Yale economics professor Robert Shiller is known for making the right call at the right time. His prescient book Irrational Exuberance was published weeks before the tech market […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[16],"tags":[],"_links":{"self":[{"href":"https:\/\/www.ubertor.com\/blog\/wp-json\/wp\/v2\/posts\/92"}],"collection":[{"href":"https:\/\/www.ubertor.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ubertor.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ubertor.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ubertor.com\/blog\/wp-json\/wp\/v2\/comments?post=92"}],"version-history":[{"count":0,"href":"https:\/\/www.ubertor.com\/blog\/wp-json\/wp\/v2\/posts\/92\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ubertor.com\/blog\/wp-json\/wp\/v2\/media?parent=92"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ubertor.com\/blog\/wp-json\/wp\/v2\/categories?post=92"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ubertor.com\/blog\/wp-json\/wp\/v2\/tags?post=92"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}