I looked at a new detached listing in my hood a couple of weeks ago on a rainy weekend. It's still unsold at close to $2mil despite the steady stream of lookie-loos and pent-up demand for a SFD close to downtown and amenities; perhaps because the list price is 31% above the total current (July 2015) BC Assessed value and because it's very old construction requiring even more money, time and effort to bring it up to modern standards. The structure is only valued at 18% of the BC assessor's total value. Flippers are few and far between. Perhaps fundamentals really do matter.
Meanwhile as the photos above indicate, vendors are repricing lower, and buyers are bidding below assessment. The only flipping that buyers are doing now is in their point of view. Hat tip to FIVRE604
History, Charts & Curated Readings
"Progress, far from consisting in change, depends on retentiveness. When change is absolute there remains no being to improve and no direction is set for possible improvement; and when experience is not retained, as among savages, infancy is perpetual. Those who cannot remember the past are condemned to repeat it." George Santayana Vol. I, Reason in Common Sense
"History, real solemn history, I cannot be interested in.... I read it a little as a duty; but it tells me nothing that does not either vex or weary me. The quarrels of popes and kings, with wars and pestilences in every page; the men all so good for nothing, and hardly any women at all - it is very tiresome." Jane Austen spoken by Catherine Morland in 'Northanger Abbey'