Interesting article in the TC today about the Bayview and yesterday's untimely Spring rain: it seems that the torrential downpour wasn't able to dampen the perpetual pump and dump of condo marketing in this, the mother-of-all-retirement-markets.
Some notable highlights:
- in this market that sells itself, a developer must charter private jets and commercial airliners for 200 guests for a special "buyer's weekend" (estimates are "dozens of buyers" came out of that marketing campaign)
- the "buyer's weekend" includes golf tourneys, spa treatments and sightseeing activities
- Most buyers are from Alberta and Ontario and include former provincial premiers Mike Harris and Brian Tobin
- the next target is "people from the desert" looking for "opposite seasons"; I guess summer here, winter there?
- the two aforementioned premiers are said to be wooing "King" Ralph of Alberta to join their exclusive living in luxury accommodations
Bayview has units ranging in price from $400K to $3M. If you have political aspirations, that $400K studio apartment may be the best investment you can make in your career: you'll have an inside seat in the lobby where you can wait patiently for the twice-yearly appearances of the busy ex-politicians.
Either Palm Springs is getting unbearably hot in the global-warming winter, or all the well-publicized anti-American sentiment in Canada is making life uncomfortable for our heads of state down south as Mike Harris is quoted describing yesterday's weather as "beautiful West Coast"; of course, what else is he to say when his money is tied up in a development and he just arrived at the golf course in a stretch-limo to woo potential buyers with a little shoulder rubbing prior to their full body treatments later in the day?
And to think most of us just get a complimentary LCD flat-screen HDTV when we spend $400K on a closet-sized condo; we're going to start demanding free trips to Hawaii for a little "opposite seasons" with all our conditional offers to purchase from here on in.