Robert Shiller writes: sentiment is largely shaped by the news media. https://wolfstreet.c...a-hype-u-turns/
Cue Vancouver Headlines from 2016:
“Metro Vancouver housing market sets new sales record in 2015 as prices keep climbing” – Financial Post, January 2016
“Unconditional offers are new normal in Vancouver real estate market” – Globe & Mail, February 2016″
“Vancouver area benchmark house price now $1.4M, up 30% in 1 year” – CBC News, May 2016
But as Shiller writes, all mania’s eventually come to an end, and the media plays an equal role in compounding the role of public sentiment in the opposite direction.
More Recent Vancouver Headlines:
“Buyers retreat from Metro Vancouver housing market over new taxes” – Vancouver Sun, September 2018
“Vancouver Real Estate Slowdown Expected to Persists in 2019 As Cooling Measures Take Effect”- Globe & Mail, December 2018
“Metro Vancouver housing sales hit nearly 20 year low”- January, 2019