Quote:
Originally Posted by westopher
I live in kits, and have actively been looking for a condo to buy, and places here around the 350-450k range are going fast. Its all about where you look. Other places we have looked, like near VCC, south main, fairview, false creek, not so much. It all depends on your search parameters. I don't bother to look at sales for others. Vr6gti is probably in the same boat. What he wants may be a sought after area, and can be unaffected, or at least only slightly affected by the downward trend in the overall market.
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when rates increase, those $400K condos get awfully unaffordable
there's no rush, wait out the downward part of this ride and buy at a discount compared to today's prices
yes, kits is a premium area, but $400K for a place that rents for, what, $1500? doesn't make sense, the ownership premium is NOT that great - the capital appreciation upside is basically non existent
wait, be rewarded
if you have money burning a hole in your pocket, invest it in something stable (so you can liquidate when the time is right to buy), diversified (see stable) that pays you to wait (well, you should be paid, right? i know i like to be paid for investing)
life is WAY simpler than ppl make it out to be!