4313 W 11TH AV, Point Grey, Vancouver West
1947 sqft, 33×122 lot, old timer, $1,288,000.00
I would still love to live in WPG. What’s a shame is that a lot of these old homes are torn down so Chinese ‘mansions’ can go up in their places.
wouldn’t you love to have a time machine vreaa.
Remember when you mocked this property?
Who’s laughing now?
Anybody who knows anything about markets knows that any fantasies about “time machines” are something that you have to leave behind you before you enter Markets 101.
Any naive individual can point to any market’s past performance and coulda-shoulda-woulda about buys or sells.
But it’s a complete waste of time.
In our speculative mania, this property was overpriced 5 years ago, it was overpriced 2 years ago (when it was posted here as an example), and is overpriced even more so now.. What’s the going rate on Point Grey 33×122 ft lots? $1.5? $1.7? $1.8M? So what? Great fools then; even greater fools now. Lots like these will sell for well below $1M in the trough, likely down around $600K.
So, actually, it’s the observant bears who are laughing… at the series of greater fool buyers who have taken valuations to these insane levels.
It doesn’t bother those on the sidelines to watch this show continue until it implodes. Like watching others play Russian roulette; or pass-the-parcel with a time-bomb.
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