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What is the right price to pay for a condo?
With the current real-estate market here most people seem to agree
that property is getting too expensive in Vancouver, particularly
for first-time buyers. Opinions differ on what that means for the
future, most people who earn their living through real estate seem
to be of the opinion that prices will stay the same for a while
(plateau), Increase very moderately for the next few years (about
the same as inflation) or dip slightly.
Others take a more negative view, pointing to Vancouver's history
of manic depressive real-estate price swings, including a one year
40% drop in house prices in the early eighties.
With the current build-up of houses and condos for sale and months
of dropping sales its starting to look like we've hit the market
peak - so how many are waiting on the sidelines to buy? If prices
start to drop who will jump in to make sure they don't drop too
much?
If you're looking to buy in Vancouver, but are currently 'priced
out' or have found better places to invest your hard-earned money,
what would convince you to buy in Vancouver? What do you feel is a
reasonable price to pay for a house or condo in Coquitlam and Port
Coquitlam?
Burnaby
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Coquitlam
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North Vancouver
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Port Moody
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Port Coquitlam |
Maple Ridge
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