Report on a telling sale from thinktom at RETalks 2009 Feb Mon 16, 2:20 pm -
“Unit 2701 at 1455 Howe. Purchased Feb 1, 08 for $1m even. Just sold for…. $725k. That’s GOTTA’ hurt.”
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Latest 15 Anecdotes:
- “Bought condo in North Vancouver in Dec 2003 155k, sold in Sept 2008 for 75% gain.”
- “I am an executive at a company in Vancouver. I don’t believe that our relationship to Asia will make us immune to overall Canadian market forces.”
- Oshawa – “My spouse is a financial planner, working almost exclusively with middle class working families, and the horror stories I hear are unbelievable.”
- “My wife and I recently sold a Vancouver (well Burnaby) special; now renting a great condo across False Creek from downtown.”
- “Seems their bid of 502K may go through after all, as the other party has dropped out. She’s all jiggy with excitement.”
- “We could overextend ourselves, as many others have, and take on a ridiculously high mortgage, but we have decided not to.”
- “The Sutton rate is almost impossible to qualify for, my agent told me he is very frustrated with this marketing gimmick.”
- Is Real Estate The ONLY Sector In The Economy That Is Red Hot?
- Toronto – “Our search felt really irrational, at times, in terms of bidding. Just because money was available to people, it seemed that was artificially inflating the price of houses.”
- “I am in government relations. I vow that should the government contemplate any type of homeowner bailout, I will be organizing a ‘grass roots’ campaign to lobby against it.”
- Two New Yorkers Move to Vancouver – “We bought a place downtown, because we are real estate investors. Vancouver is a good place to invest.”
- David Rosenberg – “Is the Canadian housing market in a bubble? It sure looks that way.”
- “I am Realtor. Nothing Realtorian is Alien to Me.”
- “I paid a guy $200 to wait overnight for me so that my clients would be at the front of the line to buy condos at the Mark.”
- It seems that the BOC wants people to overextend with free money, but also wants to be able to later say that they warned against that.
Type of Anecdote
- 01. He Said, She Said (7)
- 02. Profiting from the Boom (35)
- 03. Changed my Life (5)
- 04. Changed my Career (3)
- 05. Where do Buyers get the money? (41)
- 06. Held my Nose and Leapt (10)
- 07. Avoiding Vancouver (8)
- 08. Overextended Buyers (32)
- 09. Delaying Buying (14)
- 10. Demoralized Renters? (16)
- 11. Regrets about Investing in RE (6)
- 12. Effects of Development (10)
- 13. 2010 Olympics Related (15)
- 14. Social Effects of the Boom (59)
- 15. Misallocation of Resources (13)
- Uncategorized (135)
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1 response so far ↓
Esol Esek // 5 March 2009 at 4:35 am |
Lucky to get out. This is not a sad story….