Quote Originally Posted by Jonsey5484
It has gotten so out of control that even a small run down 2 bedroom cottage that was built in the early 1900's goes for about $500,000. It is ridiculous.
There's a house, little more than a shack, down the street from me that sold for $384,000. It was literally something like 300 square feet with almost no property, RIGHT next to the fire whistle (I'm not sure if the purchaser is aware of this). A far cry from the $75,000 my father paid for the enormous 2600 sq. ft. beast on a huge corner lot he bought when he first came back to the island...

Funny thing is, it's mostly just a status symbol for most people. They're not looking for a nice place to live or a good school system for their kids, they just want the prestigious address.