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.