The Globe and Mail: “The bloggers had it right”

by mtippett | December 29, 2008 at 05:20 pm

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Anyone who argues that bloggers and amateur writers are less likely to get the story right than the pros really hasn't been paying attention to the news. The Globe and Mail has this to say about local real estate bloggers and their ability to call the collapse of the market well in advance of the official sources.

Gallows humour, but no denying it: The bubble has now burst. And in B.C. real estate, it’s almost certainly not finished deflating. In a December, 2008, economic update, Royal Bank of Canada described the B.C. real estate market as being in “full-blown correction mode” and “unravelling fast.”
Meanwhile, bloggers are gloating. I’m talking about those real estate death watch sites such as Vancouver (un) Real Estate and Condohype.