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• a » • e While the ferry service raised the general value of land in Aest Van- couver and determined particularly high land values at Ambleside, Kollyburn and Dun*^9rave, the areas of the municipality that were unserved saw little activity until the road development of the intervar years. Caulfield is a prime example of the effect of the ferry service on real estate activity. . <2,1 Davelor®ent was planned at Caulfield before 1900 but was postponed until regular transportation to the area could be established* Surveying began in early 19C9 with the promise of regular ferry service. The response to the Caulfield subdivision was considerable in the era of private ferry owner- ship with a large number of lots being sold. When the Transportation Company was bought out, service to the area was cut to a minimum and eventually dis- continued. Without regular transportation links, interest in the area died and was not revived until the late twenties when roade .were improved. The first important era of growth in «est Vancouver came to an end in I914f with the start of the First World War. Real estate interest had begun to decline in late 1912 and by 1914 prices had dropped by about twenty-five percent. Professor Kaci)pnald,^^ an expert on the early history of the northwest, agrees that the decline In land prices was a reflection of the economic atmosphere that prevailed throu^out the western world. Prom the end of the land boom in 1914 to the beginning of the second important era of growth in 1931 the population of Vest Vancouver rose steadily. With the dependence of the growing population on Vancouver for its livelihood, the ferries remained the dominant element in the life of the community until the construction of the Lions Gate Bridge. Responding to the optimism that still existed, to a certain extent, at the tail end of the boom years and realizing the importance of the link with 19 Professor Mac-3onald tenches American history at the University of British Coluribia and has a special interest in the histories of Vancouver and Seattle. • •••9*