On Thursday October 20th, Michael Ferreira wants to help make a confusing game less so. His presentation at the UDI lunch is titled Game Of Homes after the byzantine and insanely popular HBO series Game of Thrones for a simple reason. With warring factions, hundreds of millions of dollars at stake, misinformation campaigns, looming elections and political chess moves, the state-of-the-housing-nation in our region is easily the most complex it’s ever been.
Who is right? Who is wrong? Who are the good guys? Who are the bad guys? Where are we all going to live? Where is safe? Where do the opportunities lie?
Come listen to Michael and find out.
Michael is the perfect game guide. As the Managing Principal of data-rich firm Urban Analytics, you’d expect him to be a number-crunching spreadsheet-warrior, but instead be prepared for the exact opposite. Talking with Michael about the complex nuttiness of our residential real estate playing field is more like having a beer with a buddy: a very smart buddy who doesn’t need to hide behind numbers and statistics. He knows how to read the cards on the table and summarize the situation so that even his Mother can understand. In fact, his Mother will be at the lunch. He’s that kind of guy.
Case in point: he’s going to start by summarizing the past year in the first 10 minutes of his presentation. It’s been a crazy year: a 10 minute summary seems like a herculean task. But when you really look at what’s been going on and cut to the chase, the situation is really quite simple. It’s all about demand and supply. Too much of one and not enough of the other.
Then he’s going to dive deeper into the demand-distractions that have been headlining the news: crazy taxes, nutty policies, penalizing the poor. By the time he’s done making his case you’ll be prepared to stand your ground and point out the flaws in the thinking of pretty much any demand-side nimby or politico you may encounter lurking in a dark corner while you play the game.
But there’s more.
He’s a fan of the social media hashtag #itssupplystupid for a reason: he’s got the numbers to back up his case that if we build more homes (and take the necessary steps to introduce those homes into the overall community properly) we will make things better for everyone. Michael will give you the ammunition you need to win the supply-side conversational battle, and the war.
Michael gets out of bed every morning ready to fight the good fight because he’s lived here a long time, and seen our city grow from a sleepy village to Gotham city. He remembers working for Milborne Real Estate in Yaletown, back when there was not a nearby tower to be seen. He recalls a conversation with a certain senior executive who will remain nameless, but who heads a large development firm here in Gotham, about whether or not early-entrant residential tower DOMUS would ever be able to sell at an average price of $323 dollars per square foot. It’s quite the reality check when new product in Vancouver today, only 15 years later, is closing in on $2000 a foot. Even the most bullish members of the development community can’t help but raise an eyebrow at that.
Why does he do this? What’s his motivation for giving us the info we need to get our jobs done?
“It’s really simple,” he says.
“This place is awesome. I want to see us build more homes for more kinds of people so we can keep it that way.”
Cheers to that, Michael! The next round of beer is on me
Come hear him speak at the Hyatt Regency on October 20th at 1130 AM - Ticket Info Here!