The Vig

From the “you’re pulling my leg, right?” files comes the Countrywide REO website.  These are properties financed by Countrywide that have foreclosed and are now back with the bank.  According to this guy, there’s almost $3 billion worth of property available.  And that’s just asking price!

Just for fun, I poked around the site to see what’s available here in Vancouver.  There’s a condo listed down near the I-5/SR-14 interchange that caught my eye.  It’s a good location, just west of the freeway and near the river.  But for $450,000?  Thank you, no.  Between the mortgage and HOA dues, it’s over $2500/month to live there!  This in a city where the average family makes less than $45,000/year.  By way of comparison, my old condo in Mountain Park, also a 2 bed/2 bath, is going for $185k right now.  Still way too rich, but I’d take Mountain Park over The Couv any day.