Economic analysis

A Toronto homebuyer takes his frustrations to the blogosphere

FML Listings is a place to rage against overpriced homes

Last week, we wrote about whether Canada’s real estate market is on the cusp of a painful though not disastrous pop or an all-out meltdown like the ones that hit the U.S. and Ireland. Econowatch would like to kick off this week by drawing your attention to FML Listings, an anonymous blog launched by a self-described frustrated Toronto homebuyer. It’s based on a simple, brilliant idea: Pick a modest house or condo with an outrageous price tag, and rail against it in 50-100 words. Here’s today’s gem about a one-bedroom, one-bathroom going for $548,000:

“Aaand, here’s a 1 bedroom, 1 bathroom super tiny condo at Yonge and College for almost $600,000.00!!   After looking at so many listings, it appears to me that adding pot lights to your house or condo ups the value about $100,000.00. And when I say value, I obviously don’t really mean value.

Happy Monday everyone.”

The folks at real estate blog Move Smartly interviewed the anonymous writer behind FML Listings, who described the origins of the site’s name:

“Urban dictionary defines FML as, ‘When one is in a bad situation and needs to fill that aggravated “sigh” with a word,’ which is exactly how I feel about the whole situation. I’m not a first time buyer, I’m married, we both have great jobs, and have what we think is a safe down payment. But even with all that, we still can’t buy a reasonably priced house in the city we grew up in.”

It’s a feeling scores of Torontonians and Vancouverites can surely identify with.

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