This is why I preach. Myself and others who have been proactive shouldn't have to suffer cause others are speculating - yet we will. :( This is ontop of being punished currently with low rates not helping those of us who save either.

There's days I wonder why I don't join the dark side and just wait for a bail out.

Most of what you wrote makes sense and has some merit except this. I recently flipped my condo insurance into a rental condo policy and the difference in pricing between the two policies is negligible.

I haven't read the whole thread, however there needs to be a change in thought pattern if one is going to invest in real estate. Focus needs to be put on yield as opposed to potential capital gain. This basically negates the idea of buying anything in the lower mainland because the revenues plain and simple cannot provide a decent ROI (8-10%).

What size was the condo? was there commercial property in the bottom of the building?

I should have been more clear rather than generalizing, yet regardless insurance will cost more, not less.

Cap rates in Vancouver are ~3-4% right now, yet I fear that is even too high as that is only measured by good landlords and good investments. I know a few amateur landlords that are losing money, renting for the cost of the mortgage then covering condo fees and taxes themselves cause they are betting on continued house appreciation. :facepalm:

Thanks for your reply. I took some time and did some research, your response helped me out.

I won't be selling my current place just yet, but I'm no longer interested in going after another soon.

You have to be careful. The price may be negligible in difference but the coverage difference are so far less on the rented condo form.

So in actuality, it is more expensive. You're paying the same price for just a fraction of your previous coverage.

If the current market has taught us anything, it is to not bet on it. Good luck to them!