“I know, I know; I’m unrealistic expecting more than a 10% correction”

“I’ve had to endure drivel from people I work with in Vancouver who:
1. bought a house 5 years ago in just outside Shaughnessy for $650k which is now worth… wait for it… $2 million
2. a house in East Van. which is ~90 years old and bought 4 years ago for ~270k is now worth ~$800k…
… I know, I know, I’m unrealistic expecting more than a 10 % correction”

- atomic at greaterfool.ca 17 Dec 2011 5:44am

4 Responses to “I know, I know; I’m unrealistic expecting more than a 10% correction”

  1. Sorry Shaughnessy wasn’t going for 650,000 5 years ago. Not buying that crapola.

  2. neither was E. Van going for 270K 4 years ago…

  3. Just remember that most of these people won’t sell in time and it will be worth =< what they paid for it/ leveraged up with lines of credit.

  4. The numbers don’t make sense to be taken as the normal experience. Some condos are still underwater relative to their presale valuations, and not just The Village at False Creek.

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