The Vancouver real estate market does not seem to be pricing in the new realities yet. This place on E. 39TH AV, Fraser, is one of the 24 places in all of East Vancouver that is priced under $500K It's for sale at $499,000.00. Are they freaking serious? The blurb says;
This existing 3 level home offers more square footage than can be re-built on this 2947 sq. ft. lot. House is in need of structural work & updating. However, character features such as original staircase, doors, window casings, & floor mouldings could be highlighted after renovation.Character features? Floor mouldings can be highlighted? Wow. Hold me back. I still have a few days to get a 0%/40. Building codes won't even let you build something of this modest size. And, can it really be called "three level" with a straight face?
Somebody ought to tell the vendor that the TSX is down over 40% since July, and that it lost 16% in the last week alone. People have lost 30% of their retirement funds. Cut the price on this disaster to $250K, and get the bleeding over with. The MSM described today as a "bloodbath". The pigs are being slaughtered. Don't be a pig.
Then there is this beauty for $508K. note: it's a 3 level, 3 bedroom palazzio too.
Good starter, renovate or build your home. CD1 Zoning. This 3 level 3 Bedroom, 2 Bath solid home is situated in desirable Renfrew Height Area, South facing with view potential. Quiet neighbourhood, central location.You will get an 800 sq' bigger lot than the one above, and this one in is the desirable Renfrew Height Area (sic).
This is no sport at all. Van. RE is frozen in time like so much ABCP. Somebody complained about my pictures, and posts the other day, and suggested that I was becoming deranged. If all of this madness seems "normal" to everyone else, then I am truly unhinged. I must be suffering some kind of Joan of Arc, or Nostradamus delusion. Is this some kind of reality TV show? Like that Jim Carrey film where he lives in a TV set?
It was weird switching channels. Somehow, looking at RE right now seems more of a madness than looking at national, and world events.
...the more they stay the same.