Image of History

Darkly in The Mirror

Evacuation Sale FDR Library 10-02-2010 4-24-00 PMFDR Library, Courtesy of the National Archives and Records Administration.

Re-reading a commemorative book published in 1995 by the Real Estate Board of Great Vancouver to celebrate 75 years of it’s “History of Service” a particular passage stood clear. Today as one views our great and beautiful city on the eve of the 2010 Winter Olympics a year after 2008’s world wide financial meltdown, one takes pause to reflect on the image in the mirror.


“On March 9, 1929, the Vancouver Stock Exchange experienced a record trading day, but on October 29, 1929, the Wall Street Crash was heard around the world. Despite that Black Friday, however, Vancouver’s civic authorities, citizens and businessmen didn’t seem to immediately understand the economic implications of the market crash and continued approving major civic improvement bonds, such as an expenditure of the over $4 million for the construction of the Burrard Street bridge in December 1929.”

“Slowly however, the penny dropped. Despite considerable building development during 1929, it was soon apparent that the relief rolls were burgeoning, and the destitute were becoming a common sight on downtown streets. Demonstrations, and arrests multiplied, and by mid 1930 it was quite apparent that Vancouver, too, had reached the end of its affluent era and was sliding down into what historians would eventually call the world’s worst depression.”

from A History of Service 1919/1994 published by the Greater Vancouver Real Estate Board with permission

About Larry Yatkowsky

Larry is a recognized real estate expert. A veteran professional, his experienced counsel leads Vancouverites in his west side community to place their trust in a man passionate about his work. Uncompromising ethics bring a balanced approach to realizing your real estate dreams.

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*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed.
**Numbers provided may vary as they are dynamically posted by the REBGV.

Reader Comments:

Boombust Says:
February 10th, 2010 at 6:05 pm

“Slowly however, the penny dropped.”

Well put, Larry.

It’s going to be ugly.

mike Says:
February 10th, 2010 at 10:22 pm

LOL, Boombust, all you bears sound the same. For 10 years now I’ve heard, “it’s going to be ugly” — continue being bearish and wrong, I just pray that no one reading these boards actually listens to the ridiculous bear arguments which never come to fruition.

Boombust Says:
February 11th, 2010 at 8:29 pm

You sound like a real numbskull.

You’ll see.

Boombust Says:
February 11th, 2010 at 8:31 pm

…er, take a little peek to the right, Mike. The numbers don’t looook so gooood, do they?

February 11th, 2010 at 8:42 pm

@Boombust – you are welcome to play here. Mike has a name, please use it. Don’t go down the road with name calling – Ok! Discourse yes – name calling no.

Tom W Says:
February 11th, 2010 at 8:53 pm

Love tonights stats.

More of the same tomorrow, if you please!

Thx Larry. Good post.

Boombust – it may be on our doorstep.

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