Quote:
Originally Posted by Hemi-Cuda
I'm guessing he bought right before the big crash in '08. I bought a condo in '06 for 280k. Prices cratered in '08 and it never recovered it's value. We finally sold the place in 2022 and managed to get 240k for it. Condos are not a good investment and I will never buy one again
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I suspect that condo fees are really holding prices back as well. My mom bought a condo about 20 years ago in Marda Loop. It is a really nice place but it definitely increased as much as it should have. Obviously there is a lot of competition in Marda Loop but also her condo fees have gone up from just under $300 to over $550. This is a building with no amenities other than an indoor parkade. I think that $550 per month stings a lot of people when they see it.