I saw an interesting article today about Vancouver luxury real estate. You know the fancy houses over looking the ocean. Well apparently there were multiple offers on an old cabin. Vancouver luxury real estate is bouncing off the bottom when you get 3.4 million for a cabin. Mind you a cabin in the west side of Vancouver is a mansion to me. After all I am a condo liver on the east, east side.
There are some pretty nice homes around where I live also that seem to be moving.
The other day I was driving down a Coquitlam side street which is one of the more easterly townships connected to greater Van. Sold, sold, sold was on every house I saw. One house for sale I drove by had no sold sign on it but compared to a few months ago, WOW…
Houses are bottoming
Being a local food delivery person in my spare time I do a lot of cruising around in the area of easterly Vancouver. Before the bridge takes you across the bridge to the other world. Mind you I go there from time to time also on a delivery. It’s like going to a different planet. Housing, landscapes and yes even the people all seem alien. Anyways out there there is no real estate bottoming because houses are still selling like hotcakes.
Of course prices are leveling and deals are being made but there sure isn’t any kind of crash. My condo in Port Coquitlam is leveling but prices are not crashing. When I drive around PoCo as we call it, I don’t see too many for sale signs. What I do notice here also is a lot of sold signs. I remember the crash back in the 90s. There were for sale signs everywhere. For some reason this time around seems a little different.
Is the bottom in
From where I sit in the drivers seat the sales signs yelling sold tell me something. People are buying these houses. Don’t ask me if the houses are being sold for half price because I don’t know. All I know is the bottom must be in because they are going like hot cakes when put on the market. Of course they could be people trying to bail out of a bad investment but who knows. Heck if I could get a little more cash for my boring little 2 bedroom condo I might take the leap and upgrade.
Too bad my income is under ten million a year I would be able to afford that cabin. Oh well I quess I will have to save money and drown in debt and sell in the next big boom…