1.6 million

1.6 million

Tell me how this makes any sense. This home on the block next to my house sold in under two weeks; above asking price  – for 1.6 million dollars. The buyer was purchasing the lot -without a doubt, it will be demolished over the summer. In it’s place will stand another generic monstrosity pushing the boundaries of allowable footage on our standard 33 x 100 foot lot.

Vancouver has been my home for the past 35 years. Understanding why one of the most beautiful cities in the world also boasts the most expensive real estate in North America isn’t rocket science. When Hong Kong reverted to Chinese rule in 1997,  enough money jumped ship to fund a new nation. Rather ironic that the only city in the world with richer real estate than Vancouver is Hong Kong. I’m no economist; my simplistic reasoning falls short of painting a full picture. None the less, our ridiculous real estate market is driven by foreign dollars.

It would be un- Canadian of me to complain or cause a ruckus. Instead I’ll ponder spending 1.6 million on this little fixer upper.

5 thoughts on “1.6 million

    • We’re the envy of our friends as we only pay $2000 a month for the home rented the past 13 years. A larger than standard corner lot, the value is at least 2 million. If we had to find something comparable it would be at least 3500 – 4000 a month. A friend of mine lives a few blocks away and pays 2700.00 a month for a tiny 2 bedroom war era bungalow, and that’s just for the main floor. The one bedroom basement suite rents for 1500.00.

      Recent zoning changes have allowed the “laneway” home. They’re popping up in alleys all over the city. Homeowners can build these tiny homes at the back of their property – they’re the only stand alone houses in the city selling for under a million. One just up my street sold recently for 750,000. A bare bones studio apartment starts at around 300,000.

      Luckily we could care less about owning property, preferring to spend our money on travel

  1. Pingback: Vancouver – The Most Liveable City In The World | notestoponder

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