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Thanks for the post.
The irony is that professional chefs and pro cooks never use granite counter tops for a number of reasons. The only advantage is aesthetics.
It is easy to be drawn into the flash of a newer building but while we have become partial to the superficial build quality, there is no reason to consider price increases because of it.
Why?
It is because there has been an exchange. The build quality of newer buildings are horrible and cheap so the money saved there offsets the pathetic stainless appliances and minor use of granite. There is no $$$$$, just stupidity to pay more for something superficial.
Don't believe me? Buy an older condo and reno it yourself and you will see that it is not expensive for the 'new look'. As a previous condo owner (I've owned 4 different places in Vancouver over the years), I speak from experience when I say this.
Of course, all of this is nothing compared to the overpriced factor. I have no idea why people keep arguing that prices can only go up. These are the same people that started buying mutual funds and ETF's around the time I started shorting everything.
It's not just first time home buyers that are roped into the hype (Bob Rennie is a marketer for self interest) but the general public.
We had a few good buildings, such as the Mondrian (600 sq/ft luxury for about $210,000) and Grace (1100 sq/ft for about $525,000), that had great construction with great prices. The Kingswood, which my dad owns a unit in, also sold for a fair price.
We are over priced period. I don't mean to act too cocky or start an argument with those who disagree. Consider I am trying to help you and others from making a grave mistake. If it were up to me, I'd want everyone to buy and over-leverage themselves. It means more money for me later.
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