holy crap

[jazzfish]

In case you were wondering whether the Vancouver housing market is still stupid: a one-bedroom unit in my building just went on the market. Its asking price is what we paid for our two-bedroom in October 2016.

I am pretty sure that this is the last nail in the coffin of my loose plan to find a one-bedroom place to buy this summer/fall. It's certainly one more not-so-gentle nudge towards getting out of Vancouver altogether.

Comments

[queenoftheskies]

Yikes! That's ridiculous!

[jazzfish]

Yeah. It ain't good. I'm likely to get out of this with basically free rent for the last two years, solely because I had access to good credit and a ridiculously large sum of money via parents and in-laws.

[novel_machinist]

Ugh, the wife and I were debating moving up to Victoria BC, but the housing prices are scary. I mean, I suppose it depends on what we'd save on insurance, pretty sure that's somewhere around 300USD a month or more...

[jazzfish]

My understanding is that housing in Vic is well on its way to Van-like levels of ridiculous. Which is also not good. :(

[magedragonfire]

Apparently the detached housing market is 'cooling down', a little - real estate speak for 'prices aren't going up as much' - but the condo game is still strong, since nobody can afford houses and they've now all figured that out. :P

We've just moved back into New West; we used to live here seven years ago. It's incredible to see how the prices have changed in the meantime (and the skyline, too).

[jazzfish]

Ha. I was briefly concerned when I saw something go by about "the housing market cooling in the wake of new government / proposed new regulations" but then I realised that the only thing shrinking was the first derivative of housing prices.

Welcome back! Seven years ... would be about the time I started going out to New West. The skyline -has- changed a bit, yeah. :)