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An Adventure in the Bed and Breakfast Business, British Columbia Real Estate over the Years

In: The Adventures of a Modern Renaissance Academic in Investing and Gambling

Author

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  • William T Ziemba

Abstract

When I arrived in Vancouver in 1968, my salary at UBC, which was all my income, was C$12,000 per year less the taxes. Rochester offered more as did Northwestern in the US$13K range. In the first year I rented a house with a French psychiatrist, Pierre Flor Henry. The rent was $250/month or $125 each for a house that was way up Prospect Road in North Vancouver. The house we shared was a nice one and you could only see one house nearby with all the trees and shrubbery. At that time the lot next door was selling for $13,000, about the same as my salary. Lots at Whistler, the ski resort which was just opening up were $2,500 with $250 down and 3% interest. In those early days salaries were low but prices were too. A few of my colleagues bought houses in nice view areas near the university in the $30,000 area. Those houses in 2017 are worth about $3 million or more, a rise of more than 100 times in 48 years…

Suggested Citation

  • William T Ziemba, 2017. "An Adventure in the Bed and Breakfast Business, British Columbia Real Estate over the Years," World Scientific Book Chapters, in: The Adventures of a Modern Renaissance Academic in Investing and Gambling, chapter 29, pages 321-326, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789813148529_0029
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    More about this item

    Keywords

    Financial History; Risk Management; Investment Strategies; Mean Reversion; Risk Arbitrage; Management of Assets;
    All these keywords.

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions

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