Tuesday, February 28, 2017

Is This A Sign Of A Healthy Or Sick Market?

Sells for $67,100 over list price in days!!!

The above picture was posted on Facebook by a local realtor obviously soliciting more listings for their company.

While it is good news for the seller and of course the agent didn't have to work too hard for a pretty sweet commission, it raises the question if Nanaimo is getting sucked into the house pricing crisis that Vancouver and Victoria are now dealing with?

Rock bottom interest rates and now a government willing to finance down payments might have you wondering if we aren't headed for, or are already in a housing bubble?

The other folk that these inflated prices can cause grief are those now facing increased taxes as a result of hyper inflated paper values of the home they don't see as an ATM but rather just a place to live.


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