Detached From Reality – “My cousin is a Mortgage broker in White Rock who bought a condo 2 years ago for 265K that she has now listed for 245K with no takers. But she’s sure that her 2 detached houses won’t suffer the same fate!”

“My cousin is a Mortgage broker in White Rock who claims that detached homes are motoring ahead in WR but agrees that Condo prices are down. She bought a condo 2 years ago for 265 that she has listed for 245 with no takers. But she is sure that her 2 detached houses won’t suffer the same fate! Detachment from reality or what!”
Signs of the End at VREAA 3 Sep 2012 6:39pm

The ‘Detached-Is-Different-From-Attached Premise’, commonly used to argue for never-ending strength for detached prices, often stridently expressed on these and other pages, it is, however, false.
By the trough, prices of all property types will have dropped by roughly similar percentages.
– vreaa

2 responses to “Detached From Reality – “My cousin is a Mortgage broker in White Rock who bought a condo 2 years ago for 265K that she has now listed for 245K with no takers. But she’s sure that her 2 detached houses won’t suffer the same fate!”

  1. Her 2 detached properties??? I have friends who are mortgage brokers, they do ok, not fabulous but ok. Do they do well enough that they should own not 1 or 2 but 3 properties??? I hope your cousin is ready for bankruptcy.

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