Does a Bell Ring at Market Tops? Well with a $25 Million Dollar Condo sale in Vancouver it sure looks like one has just gonged for Vancouver Real Estate.
The Condo was a 6400sf 2 level penthouse overlooking Coal Harbour, Stanley Park and the North Shore Mountains. The owner had it up for sale for 2 years, and in the end apparently made a 47% capital gain in just 3 years of ownership.
That said, this sale comes on the heels of an astonishing 10 year 200% plus rise in Vancouver real estate prices. Moreover the chart below clearly shows that this $25,000,000 sale showed up just as a decline in pricing has begun.
Now if market wizard Marc Faber is correct that: “Maybe gold is signaling a deflationary collapse of all asset prices”……. if you have profits in your Vancouver Real Estate, it sure looks like it might be time to bank some just to be safe in uncertain times.
Charts by Canadian Housing Price Charts
