From a thread started by eyesthebye at RE Talks 28 Mar 2011 1:24pm –
“An easy 200K flip. 45 east 48th Ave.
Purchased in June/2010 for 665K; no recent work done.
Now on the market again for 849K.
Less than one year later – easy money.”
Taipan 2:05pm – “Its gambling isn’t it!? That’s not investing it’s plain and simple gambling.”
eyesthebye 2:27pm – “On the contrary, it looks like Vancouver real estate is the opposite of a gamble.”
FuturePorscheOwner 4:51pm – “I feel working for a living is honestly a waste of time after reading this. 200k gain in a little less than a year, it’s insane. Does anyone have a million dollars they want to lend out? I wanna buy a crappy vancouver special.” [Speak to your bank manager, they’ve helped out thousands of others! -ed.]
The sentiment expressed by the last commenter, that honest hard work for regular income is a “waste of time”, represents one of the most sinister effects of a broad speculative bubble on a community. – vreaa