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Podcast: The Real Estate Espresso Podcast
Episode: Speculation Can Bite You In The A$$
Description: On today’s show we are talking about the dangers of speculating and making purchases that are significantly above market. Some markets like Vancouver and Seattle have long experienced a significant influx of foreign buyers who have created upward pressure in the market over a sustained period.
Some luxury condo towers in Vancouver were offering pre construction units in luxury buildings at stratospheric prices of $2,600 to $3,000 per square foot at a time when comparable units that were one or two years old across the street were selling for $1,500 per square foot. The condo developers were still able to...