January 27, 2010
Bob Rennie (AKA The Condo King of Vancouver), of Rennie Marketing Systems is the ultimate salesman, knows a thing or two about selling condos. However, how much does he know about the economy? Enough that he is guaranteeing Chinese investors that the condo market in Vancouver will not slow down after the Olympics. Wowzers… Guaranteeing that the post Olympics will not hurt values. Bold. Very Bold!
According to Xinhuanet, in the article “Vancouver property still good buy for post-Olympic era“, Rennie states:
“I’ll guarantee it won’t hurt our values. I’ll guarantee it will maintain our values. The frightening part is if values go up too much. We don’t have financial sector head office jobs, no manufacturing. If we are basing things on local incomes, how does housing keep up with local incomes if we have a shortage? We have to be very careful on the affordability side.”
Rennie, as per the article, sees a conservative rise 4 to 4.5 percent for Vancouver [new development map] in 2010.
Yes. I like to listen to what my taxi-driver says about the economy. Yes. I find my barber’s input valuable on politics. Yes. My butcher likes to talk about the housing market. But, never have they given me a guarantee on any of their opinions! I would be very interested in seeing the contracts with this guarantee!