“My mom is trying to sell a condo in Richmond. 2 months on the market and nothing. Not a soul. Already dropped the price twice. It’s a newer condo in central Richmond.”
– VanCity Girl at greaterfool.ca 10 Aug 2011 3:04am
And in related news:
Metro Vancouver’s housing starts are up 25 per cent for the first seven months of 2011 compared to the same period in 2010, according to Canada Mortgage and Housing Corp.
Most of the starts were in Richmond, Burnaby, Surrey and the city of Vancouver.
“The focus of new residential starts remains on multi-family construction, especially apartment condominiums,” CMHC senior market analyst Robyn Adamache said in a statement.
“In the first seven months of this year, 5,903 apartment starts were recorded, compared to 3,882 during the same period last year. A pickup in condominium sales as well as stable economic conditions gave developers the impetus to undertake such projects.”
– Vancouver Sun, 9 Aug 2011