Quote:
Originally Posted by sun
I have no idea what you said in this entire post. Except that you bought your house at an unbelievably opportune time when the average house in Vancouver cost $400k and is now worth $1.4M fifteen years later. Source.
What does my age or your age have to do with anything? No I'm not old enough to worry about what I'm going to live on in retirement. I'm young enough to know I'll never be able to own a house in Vancouver. You wouldn't be able to afford one today either, by your own admission. What are you getting at?
I don't feel a "god given right" to live in Vancouver. It would be nice if it was at least possible though, as it is clearly a very desirable place to live. I would kill to be able to buy a detached grow-op for <$400k and work my arse off to gut it. What makes you think prices will drop 30-50%? I highly doubt it. How long have you been saying that?
All this is irrelevant though as your initial post, you laugh at people who say Vancouver is expensive because London is more expensive. One being true doesn't mean the other is false. When I lived in Paris was I allowed to comment on how expensive it was (it was)? Or not, because Hong Kong is more expensive? |
I've watched house prices drop 30 percent or more both here and in the UK and vancouver is due for a massive correction, I couldn't say when or by how much, well that isn't strictly true, the when will be when interest rates start back up.
When a correction happens it is incredibly fast, within a month prices start dropping 10 or 20 percent as the herd rushes to get out desperately.
It only stops dropping when utter despair sets in and people stop listing their houses, in Vancouver that will take a while.