Friday, November 03, 2006

The new brave


This post One Madison Avenue over at Vancouver Condo Info left me a bit unsettled, but elicited a resigned chuckle too.

It is being marketed by Bob Rennie, and is in Burnaby. But wait a minute - isn't Burnaby a suburb? Didn't Bob say "be brave or move to the suburbs"? I guess that is so yesterday. Today the new line is "be brave - move to the suburbs". Down the memory hole.

The blurb claims that this development is "only one minute from Vancouver", and I guess that's true. If traffic is good you can hit Boundary Road in one minute, and from there, only 20 minutes to get downtown.

The listing is 647 sq.ft., and is sitting on a spacious 294901.20 sq.ft. lot. I wonder if it is possible to build a coach house as a mortgage helper. Of course this spacious condo gives you the option to have a mortgage helper right in the unit itself. Shared laundry, bathroom, and bed itself are selling features that make me want to be bold.

Originally listed for $207,900 in May 2004, now listed at $325,900, this splendid property in a prestigous location has a history of being a money-maker. Be brave now, or move to Spuzzum!

4 comments:

downtownguy said...

Originally listed for $207,900 in May 2004, now listed at $325,900
....
and about to be worth $150,000

solipsist said...

Thanks for that bit of cheer downtownguy.

This whole thing has become so ludicrous, that it doesn't really warrant analysis or serious discussion anymore.

All we can reasonably do is laugh.

And wait.

WoodenHorse said...

solipsist said...

This whole thing has become so ludicrous, that it doesn't really warrant analysis or serious discussion anymore.


Actually you touch one an interesting point here, it truly is that out there. I think that the market situation doesn't warrent a serious discussion either. The up coming crash is a foregone conclusion IMO.

solipsist said...

It might be interesting to look back next fall, and instead of the shock of appreciation, there will be gleeful giggles all around. But we must never gloat or say "I told you so".

I know that people have made a lot of money these last few years, but I personally have never looked at real estate in that way. I really just want a home in which the payments do not condemn me to a life of servitude.

As woodenhorse says though The up coming crash is a foregone conclusion IMO. I concur.