Quote:
Originally Posted by UFO
Because the increases were only minimal over the past few yrs as op mentioned, when the overall Vancouver area values for detached have been going up by double digits over at least the past several years.
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Exactly, that was the big shock for my dad. The increase in values has been going up for quite a few years now and while my parents house is in a fairly decent neighbourhood his value during this entire boom has been going up just slightly in the past 5 years and actually about 2-3 years ago it even went down one year. So to see a single sudden jump of 30% was a big shocking. I know there are factors to your value going up, there has been non stop houses being torn down and resold for crazy money around us while my parents house at times seem like one of the only houses that are old but damn. Like many retired folks he decided to start deferring his taxes this past year, no way my parents can sustain paying the taxes plus living and all that on retirement income.