Quote:
Originally Posted by Galakanokis
All this might do is fix the quick flips where people were buying and selling within months for a quick $30K+. This was happening a lot so I can see this helping in that regards.
Out in North East Burnaby there are so many new empty homes in really is unbelievable. In a span of three blocks on Curtis in Burnaby there have been 6 new homes in the past 12 months that have yet to have someone live in them. They are basically always for sale.
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A good friend of mine almost bought a house in Burnaby for $1,000,000. The roof was literally caving in, and probably required at least a $150,000 fix just for the roof. My friend decided not to purchase. Someone came in, bought the place for just over a million.
Three months later, it was untouched, and un-lived in, and sold for $1.3 million.