Here’s the challenge: Can you tell the difference between a crack shack and a million dollar Vancouver mansion? PetrP created a website quiz where you can test your real estate acumen at crackshackormansion.com. Being a consumate proffesional I only missed one. Can you beat my score cold?
That much is obvious but what are the banks lending all this money for to people who clearly can't afford it?
STARVING ARTIST:
The financial institutions and RE industry have taken away that "burden" of feeling like you owe anything anymore.
It's like playing with chips in Las Vegas. The reason they use chips is because psychologically, it's far easier to blow a $100 chip than a $100 bank note.
When they market homes as ATMs and you can't lose, people look short term and buy to sell sooner than later.
I don't understand where the money in BC is coming from. People in California get paid more in BC in the high tech industries and yet someone like myself would have a hard time moving to BC and afford it.
You folks are in for a nice surprise IMO.
I really don't get it. Do numbers like "a million dollars" not mean anything to people anymore? To me, that is a hell of a lot of money to owe the bank. I can't even stand to carry a credit card balance. How do people expect to pay that back? What the hell are they thinking? I DEMAND ANSWERS hahah
16 out of 16 for me. Clearly, I have a proper Vancouver Real Estate edu-ma-cation.
15 out of 16 – Blue house with veranda and workmen got me!
Clouds and foliage give it away and sadly I knew several houses.
Brilliant Work
comic gold! great site; I only got 11/16 however I printed off the realtor licence and will frame it tomorrow.
April 12,2010 = 15462
Great and funny website, great job PetrP !
Sadly it seems I was born in a crack shack 16/16.
13/16
Where's the "like" button? 🙂
16/16 first try… how absurd those prices are.
Interviewer: The price of a SFH in Van has recently hit $1 million. Doesn’t that look like a bubble? Bob Dugan, Chief Economist, Canada Mortgage & Housing Corp: “Well we’ve certainly looked at the question of a bubble and we haven’t been able to find any evidence yet of housing prices being out of line with fundamentals in any of the markets in Canada. Price growth has been fairly modest overall… in a longer term context”. ..Is that your final answer or would you like to phone a friend or take the 50/50? Oh! I'm sorry, that's completely wrong. The right answer was of course Yes, that looks like a bubble bigger than any of the US bubble markets. If you have a household income of $100k you probably shouldn't be buying a house for $1.2 million that you can… Read more »
15/16 for me.
Clearly I have been living Vanc RE for too long.
I can even give you the address of one of the 'mansions', it was featured on VREAA 31 Jan 2010, it's still for sale, on West 10th in Point Grey:
http://vreaa.wordpress.com/2010/01/31/visual-anec…
I scored 13!!! You can recognize Vancouver's foilage.
@The Pope:
Bobby is shameless. His claims will not be forgotten. Look what happened to Lereah,total disgrace.
Some of those hell holes are pushing 2M!
Few more listings trickled in:
341 List
145 Price changes
211 Sales
15,444 total
I don't remember my final score, I was laughing too hard. I'd have PetrP's baby if it wasn't anatomically impossible.
I got 15 out of 16 and would like to invite the anonymous PetrP as a guest of honor into the discussion. Who are you PetrP and how come we don't see you more often?
Regards,
arit
@paulb: You've been out of town too long, you can no longer tell the difference between a crack shack and a million dollar house. Apparently there are magic cigarettes available that restore that ability, maybe Bob Dugan will share some of his with you.
I liked all of those character houses!!
I buy three and my husband by three!
I got 16 out of 16…
… the 2nd time.
I only got 11/16 the first time 🙂
Noname
15 out of 16 for me, woot! (Disclosure, I was born in a crack house.)
I was owned by this challenge. lol!