Ottawa Perspective – “People in Vancouver are so delusional that they can see a house for sale at double what one would pay elsewhere and feel that it’s a bargain.”

“I was out in Ottawa a few weeks ago visiting with family. It was interesting speaking with family friends who were absolutely aghast at the neighbour who had just listed their house. Can you believe it was listed at $375k??? I just laughed and said it was just a matter of perspective.
People out here in Vancouver are so delusional that they can see a house for sale at double [what one would pay elsewhere] and feel that it’s a bargain. All sense of reality is gone as it appears that many have lost sight of what the value of house actually is. It’s really sad.”

– Not much of a name… at vancouvercondo.info 8 Nov 2011

Poster ‘patriotz’ at VCI has revealed that they have moved from Vancouver to Ottawa, and posted [VCI 8 Nov 2011]:
“Another warm sunny day in Ottawa. Here’s what I get for having given up on the “best place on earth”:
– more cultural activities
– people who are polite and say hi to you on the street
– neighbourhoods that feel like neighbourhoods
– ethnic diversity but not segregation
– no homeless people outside of downtown
– breakins are regarded as newsworthy
– much better job opportunities”

4 responses to “Ottawa Perspective – “People in Vancouver are so delusional that they can see a house for sale at double what one would pay elsewhere and feel that it’s a bargain.”

  1. dont check out belltown lofts in seattle on zillow. Looks like a going out of business sale for condos. something 200 there is over 500 here and theyres are still going down in price. A lot of them have mountain/city/water views.

  2. I wonder if Pope could mine the analytics and tell us how many posters are NOT in Vancouver. My bet is many of us left a long time ago and are enjoying watching the show from afar. And that is the real sickness of the Van RE market. Once you get infected by it you still can’t stop thinking or watching it. I miss my old life before the bubble. Then again, this reminds me of the dotcom days. We took a long time to come down from that high, too. We still watched the carnage unfold for several years before we found a new hobby (real estate). So… what’s next?

    • what’s next is watching countries, sovereign bonds and currencies blow up one by one. some of us have family and friends navigating the van thing; otherwise, you are right that it would be less interesting. to me it is amazing how this time/place it’s different persists given all the evidence already on the table.

    • Whatever it is, after being a dot-com skeptic and a housing skeptic and spending a lot of time feeling sort of uncomfortable with being out of step or perceived as critical, I may just attempt to close my eyes and drink the koolaid. *g*

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