Wednesday, May 23, 2007

Punctuating the silliness of our housing market

It's safe to say that Alberta's real estate market has shifted from absurd into grotesque.

Exhibit A is this: a 2-bedroom condo, that is the carbon copy of a rental unit that I lived in for three years before I bought my house. Crummy appliances, dirty carpets, and those marks on the walls must come standard. Asking price: $263,900.

For fun, I played with the mortgage calculator. With no down payment (of course), it would be $1603 a month. For reference sake, I was paying $750 a month in rent three years ago.

I thought that nothing could shock me anymore.

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1 comment:

Flatland Pastor said...

Y'know, between wacky housing costs - we're just getting revved up here in Flatland, but it's starting to happen here, too - and gouging gasoline prices, some businesses are starting to act like it might be the end of the world (as we know it). D'you think they know something I don't know?

I know that the wacky weather is making me nervous. Should you be nervous? Wellllll.....

I have been reading up on this lately and the short answer is - yes(?).