Do you have n extra $1.5M on hand

[Gothichome]

This home just came on to the market in Our area, before we bought Gothichome we looked at this home, it did not look like this at the time.
https://l.facebook.com/l.php?u=https%3A ... dIlZcMi_gb
I was being used as a tax or lawyers office at the time with tenants on the second and third floor. It was up for about $300.000 at that time. Out of our budget range.
Ron

[Manalto]

I can't see it Ron because I don't have a Facebook account. Can you put in another link to an ordinary real estate listing?

[Gothichome]

https://www.realtor.ca/real-estate/2410 ... Lc1hohuRD4

[Manalto]

It sure is pretty. Whoever renovated made every predictable, safe market decision. It would have been nicer in your hands.

[Gothichome]

James, looking at the pictures this home must have been up for sale last summer with no takers. Relisted now for an early summer position date. Still, a lot of money for our area.

[phil]

I'ts probably about an average price for a single family dwelling here, They have really been shooting up. Our pesos just don't buy what they used to.

[Manalto]

It's a shame. When I lived in Bellingham, Washington, I used to love to go to Vancouver. It was in the beginning stages of its boom then; I can only imagine what it's like now. Cities get stripped of much of their character when they're only for the rich.

[Gothichome]

Hello Phill, it’s been a while. Yes, the higher home prices seem to be locking out a lot of millennials from the market, but on the other side they said how could young families afford to buy when we bought our first home. Maxed out the mortgage and ate a lot of craft dinner and hamburger and all the overtime I could put in. I think the really hard part now is getting the down payment accumulated to get a mortgage, with he new stress tests and 10% down now standard (in Canada at least) even the bank of Mum and dad are pressed hard to come up with the funds.
Ron

[phil]

prices are crazy out here and a lot of the boomers moved to the interior and that drove the price of the more affordable ones out of the lower mainland up too. The interest rate just got increased to try to slow the market so I guess we will wait and see how that affects things.
gas prices are also really high, and since my house is kind of close to Vancouver proper there are a million or so driving further to get into the city so I figure every time gas prices go up so does my house, because living out in the fraser valley often means a half tank of gas a day for the distance commuters. Higher commute price might keep the price of those living closer in higher as well.

the town I lived in, in the interior as a kid got flooded, we had horrible fires after the 50 degree heat last summer and then a huge rainfall wiped out a lot of highways and caused floods, half the town was really badly flooded so it basically destroyed the town of Merritt. Fraser valley has a lot of reclaimed land too and we had huge floods out there, about 30 miles west of Vancouver. it was a real nut show last summer. Seems like the weather is changing faster than most anticipated and causing a lot of issues .. Lytton which was another small town completely burned down right after seeing 50 degree temps.