Excellent article on the current state:
For Vancouver, housing and income don?t add up - The Globe and Mail
and that linked in this:
UBC home sells again, at almost $1-million under asking - The Globe and Mail
which shows us this:
Quote:
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It was sold in 2004 for $3.8-million. It sold in 2009 for $6-million. It sold in 2011 for $9.98-million. It sold this year for $11.830-million, just above the tax assessment of $11.620-million. And the new owners are going to tear it down
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it gained 8 million in value in 8 years. Seems reasonable.
If I had a house out there, I'd cash and jet.
There is still money to be made on this:
Deep discount for former rental unit in Yaletown - The Globe and Mail
A smaller unit sells for $80k more because it was reno'd. Still looking for someone to bank roll the purchase, let me reno and flip if anyone with a shit ton of spare cash is bored
Oh, I'm sorry Yaletown...you actually need to paint before you sell the place now. Sucks. Dammit, you need to spend $3000 to make $100k. Bummer.