A teardown in Vancouver listed for nearly $2.4 million  has reportedly sold for $80,000 above the asking price. To say that this is a risky, speculative purchase would be an understatement.

It would probably come as a surprise to those in Vancouver that just a short 20-minute plane ride away in Nanaimo, for less than the value of this property, a centrally located 27-unit apartment building (pictured above) with gross annual income exceeding $200,000 is being offered at $2,350,000.

To us this is shocking. Ask yourself this – When the market corrects, and it will, who will be better protected? Does anyone remember 2008???