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Today: 20.01.2018 - 03:29:26
   Canada Mortgage Hub Discussion Board -> Mortgage Vancouver -> Do you think the economy of BC is going to be ruined after hosting the Olympics in 2010?
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rmoore6483

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Do you think the economy of BC is going to be ruined after hosting the Olympics in 2010?
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privatively9948

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True, but consider the millions of people who will be drawn to Vancouver in the next year and a half... and how they will help bring us back up? they have to stay in hotels, they have to eat, they will be shopping for souvenirs and cosmetics and clothes, interact with tourist activities and nightlife..... and so much more!Consider Washington, DC during Inaugiration week about a month ago- hundreds of retailers and vendors in the hospitality industry were talking about how much it helped them succeed in their business dispite a weary economy. I think that Vancouver is sure to experience similar assets on a much larger, year-long scale.
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panic28

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right now, it sucks.and i think that it will suck for a little while.but after the olympics, when everyone sees how beautiful this province, i think eventually the tourism and such will bring our economy back up.hopefully.we're spending billions on 2010, and forgetting about everything and everyone else. it's horrible.
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pseudoconclude11946

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guess what- it's already started. You know the Olympic Village? the funding came from a firm in New York that the former mayor dealt with. He based the entire deal on the belief that the real estate market would keep climbing. Now that the economy has collapsed, the bottom has started to drop out of the market, prices are dropping, and the backer in New York PULLED OUT of the deal, leaving you and me, the taxpayers, to finish paying for the Olympic Village. How about all the people who didn't want the Olympics here in the first place? They have to pay anyway. All for the image of the city. It's all about money here. That's why it's gotten so INCREDIBLY expensive to buy- we are now in the 6th most overpriced real estate market on earth, thanks to all the greedy people who came here and pushed everything too far in Vancouver. And it all trickles down- everything gets more expensive to fund everyone's increasing rent, mortgages, and taxes. So yes, after the Olympics, there could be some serious economic issues, like there often are in other host cities.
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