Victoria – “They put their place on the market soon after their twins arrived and it sits languishing after 2 price drops. They are more than $50,000 underwater if they sell at their new asking price.”

This anecdote relayed by Garth Turner at greaterfool.ca 22 Jun 2011
“I am a transit operator for BC Transit in Victoria. I can’t wait to see the real estate numbers for June. I drive set routes and so I see all the for sale signs popping up. I drive by hundreds of homes for sale and have seen 2 sell! I think F’s moves to stem the tide of lemmings (newbies) throwing themselves into the real estate market here has had an effect. Unfortunately, my friends thought I was crazy when I said we were in the final phase of a RE bubble. Many drank the Kool-Aid. One poor couple over bought and then decided to have a child. Well their child turned out to be twins! They put their place on the market soon after their blessed arrival and it sits languishing after 2 price drops. They think they are $50,000 under water if they sell at their new asking price. Sad thing is they haven’t factored in the cost of selling the place or moving costs.”

2 responses to “Victoria – “They put their place on the market soon after their twins arrived and it sits languishing after 2 price drops. They are more than $50,000 underwater if they sell at their new asking price.”

  1. Victoria has what Starcraft nerds refer to as a creep tumor.

    creep tumor whatever that is

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