This story has everything you need to kick off another year of real estate mania in Vancouver BC: a dilapidated tear-down selling for half a million over asking price, hundreds of thousands in profit for holding a house for a couple of months, whispers of wealthy foreigners and a grinning salesman hoping it never ends.
So what do you think? Can the multi-year rise (pretend 2008 didn’t happen) in Vancouver house prices carry on indefinitely? If you’re bearish on the local market are you starting to doubt your outlook? Does the current market have you thinking about moving to a different economy or just taking on a giant CMHC backed mortgage and buying here? How is the Vancouver real estate market affecting your day to day life and outlook?