"My co-worker just bought a place last week. FTB, 645sqft, $430K. I told her it looked like a nice cozy place, but I felt a sick feeling in my stomach. I mean what else could I say? She seemed so excited."

For anybody who still thinks that it’s unfair to suggest that the recent Latvian vignette will play out here in Vancouver, take a look at the following story.  -vreaa

kansai_92 at RE Talks 17 Apr 2010 9:28 am -

“The April deadline has really planted some seeds in the minds of the FTBs. My co-worker just bought a place last week. $430s for 645sf condo near Cambie Village. It was only last month that she told me they had just started looking. Even when I was buying my car, I took about 3 months to finally decide. She admitted they rushed to beat the rule changes and pending rate hikes. I told her it looked like a nice cozy place, but I felt a sick feeling in my stomach. I mean what else could I say? She seemed so excited.” … added at 11:17 am – “They are pretty good savers but little financial knowledge. Don’t understand mortgage rates, resets, affordability, compounding interest etc. I imagine 20% dp. Been renting for years.”