Can’t Afford a House in Vancouver? Buy Ontario instead for $16,900…

Since the real real estate market is just way too hot right now, Weblo is hoping you will cash in on it virtually. Launched in September of this year, this social networking service allows people to purchase states, provinces, cities, and properties using real dollars. The whole world has been recreated on this service so you can go out and buy it all over again.

Members can build virtual communities, and trade virtual assets with other members and can make real money by flipping virtual real estate. Members can also make money by earning real money through advertising that is attached to their virtual profiles or by selling or auctioning assets for profit. I wonder how much the Playstation 3 went for?

This service is backed by Internet and social networking visionaries including Richard Rosenblatt the co-founder, chairman and CEO of Demand Media and the former Chairman of MySpace.com. According to their marketing “Think of it as Second Life meets My Space, mixed with some Monopoly on steroids.” I’m pretty sure steroids are illegal so I don’t think that’s a great comparison.

Weblo charges a monthly tiered membership fee that discounts access to services on their virtual world. You can find out more about this right here.

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    • http://www.futurelooks.com Stephen

      I paid about $150K for my place about 2 years ago. It will probably be assessed at $300K this coming year. However, even though the value has gone up, I don’t consider it a true asset until:

      A) I sell it, or
      B) I rent it out and buy another house.

      Right now, because it is my primary residence and all I do is put money into it, it is just another libability (taxes, mortgage, utitlies et al).

    • http://www.tingram.ca Tyler

      Oh can I park my virtual Ferrari in my virtual Condo?

      Stephen ya wont make me mad if ya tell me, I’m currently not close to getting into a condo though it would be nice. One day!

    • http://www.futurelooks.com Stephen

      Hell no! Not paying real money for a virtual house :P

    • Sober Lush

      So… are signed up for this?

    • http://www.futurelooks.com Stephen

      If I tell you what I paid for mine, it will make you mad LOL

    • http://www.tingram.ca Tyler

      I was looking in the local paper at houses in the Maple Ridge area and the average price was $350k! Some areas it was as high as $450k!!

      That is insane, no wonder why people are moving out to places like Abbey and Chiliwack where housing is alot less expensive and doing the long commute to work.

      All I want is a condo. 1-2 bedroom, full bath and decent location. It’s probably going to be anywhere from 200k to 250k for something like that. Though I did manage to find a decent little one at 175k.