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^^ Excellent post!
My only fear on that is the people that end up bringing a check to closing. That bites.
Yeah, paying more to live there per month may or may not be a concern for people. I think we can all recognize that.
I read a case on a blog of a girl that rented a place downtown. It was close to work and friends and what have you. But everyone said, "you need to be an owner" so she bought a condo in New West. It was close to skytrain and she gained the gift of a commute!
So she's paying a premium to own in a place where she doesn't want to be.
Then she looks at what others are selling for and shocker! It isn't up. Does she stay in a place that isn't convenient, and has her paying for transit or a car to live there, or does she crash out, recognize the loss and realize that for her, she managed to lose money in real estate in Vancouver?
In condos, you are buying a product. Someone has decided how many square feet should be optimal for the lifestyle in which you are buying.
I was looking in the Trapp Block showhome here in NW and I'm looking at the "junior" 1 bedroom realizing its in the high 2's, the bedroom doesn't have a window to the outside, I'm walking on laminate, which I'll tell you even the high end laminate is still compressed sawdust with a picture and they can't even give me fullsize cabinets. No, now we put uppers on the bottom in the kitchen on the back wall to utilize that extra 4" of space.
Now usually I'd be getting pounded with e-mails from them because thats what you do when you try to sell shit but as the girl working there couldn't be bothered to even fucking smile in my direction, I'm going to go ahead and assume that they are having no problems selling these wonders out, even though that showhome sales center has been going for over a year.
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