Crawl Across the Ocean

Wednesday, February 21, 2007

Around Town

Last week, Vancouver installed the Olympic Countdown Clock outside the Art Gallery. I think it's a good idea, but still, I go by that spot every day so it sure makes me aware of the passing days. Whether or not that is good thing I haven't decided yet. Maybe I'll have to vary my route to work a little.

Aside from new clocks, there are piles of condos going up around town. The thing about asset bubbles is that while it is relatively easy to realize you are in one (unless you work in the media, of course), it is difficult to guess when the bubble will end. In the case of Vancouver's housing bubble, we can see the damage spreading our way across the U.S., but it's still hard to get the timing right. I'm pretty confident the next 5 years will bring buying opportunities for at least 20% off today's prices, but when in those five years - beats me.

Bubbles are mainly about psychology and one of the ways to identify them is when the typical hyperbole that surrounds any big market starts to get a little silly. Case in point, The Shangri-La, a big project going up at the intersection of a few noisy, busy downtown streets in Vancouver, in what has typically been a somewhat rough area as the city transitions from downtown office buildings to residential buildings. Anyway, as you can see from the picture (as always, click to enlarge)....

...they are passing off some of the condos in the Shangri-La building as "Estates". Sure 2200 square feet is a big condo, but an estate? I can see the conversation now.

Owner: 'Welcome to my estate'
Visitor: 'Where are your grounds?'
Owner: 'Let me show you my balcony'
Visitor: 'No, I mean where are your grounds for calling this condo an estate?'
Owner: 'Uh, did I mention it has 3 bathrooms?"

Finally, for all the folks back east (meaning: on the other side if the Rockies), the obligatory mid-February trees in bloom photo, taken a few days back...


  • I'm curious as to how that clock will be treated this friday at critical mass... its right in the center of where the riders meet up...

    By Blogger midnightsimon, at 12:12 AM  

  • Great photos, Declan!


    By Blogger West End Bound, at 4:12 AM  

  • I took a picture of the same tree the other day, except looking up.

    By Anonymous PhilipJ, at 8:22 AM  

  • midnightsimon - I've never seen the clock without a security guard lurking nearby so that will probably put a damper on any extra-curricular clock management.

    West End Bound - thanks! The picture of the clock turned out better than I expected since my batteries were pretty much dead so I just snapped a quick one in the two seconds between turning the camera on and it shutting itself down.

    Philipj - nice pic. Although really, your photo could have been anywhere :)

    By Blogger Declan, at 7:25 PM  

  • 'Tis funny, but when I drove past* there yesterday I was wondering what it would take to 'distract' that very, very bored looking security guard if one was desiring to, say, polish up a numeral or two on that clock.

    Apologies - wasn't riding, but instead circling the block while waiting to pick up a kid from an Art Gallery field trip.


    By Blogger Gazetteer, at 10:02 PM  

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