Vancouver BC - real estate booming economy—but it's only booming for a few.

[godofstock]

hahahaha.. this guy is stupid and blame on the rich ... developers buy and build more condos and one day when it collapse, then your poor kids can come in and start buying that condo u been thinking off. people are making good moneys out of real estate and can think of retiring . Guess what , we selling our house, and renting. when the market collapse, i will reenter and buy. do not blame because of your own failure in life. if u want a house, go to las vega and buy one for 50-70k. stupid guy

[mgc1282]

@godofstock learn how to speak english dumbass ....you are probaly a rice stinking chink from richmond....dont say im racist either because I AM ASIAN jus not a fuckin priveleged chink motherfucker like you who is lazy and has been fed with a silver spoon your whole life then living off your parents for the rest of your life.

[godofstock]

@mgc1282

u fking mentally ill and need to see a doctor...

dumb ass ....

guys like u who is destroying and hating everyone ... if you are asian, then u one fk up asian dude...

[leomnyc]

"Berhchh Columbia"

[westernclimber]

@VelcomeBack I would encourage you to find a real argument before making assumptions about his character. furthermore, think about the kids that werent born with a silver spoon in there mouth! There going to move, out of the city or out of the province. That's what's happening. And that's good? No its not, you think all the negative outcomes of this are great? Well your the idiot!

[JIMBOSKI58]

Vancouver lacks charm and historical presence. It seems to be all glass and steel surrounded by a fantastic view. Vancouver is not beautiful. It is "modern" with a nice view.

[homer30]

He's blaming the Asians because they are bright, rich, and can afford properties in Vancouver. poor guy you are.

[VelcomeBack]

Despite what he says, I sense racist overtones in this guy chirping on about liberal immigration policies that will supposedly prevent our kids from affording Vancouver homes.... oh boo hoo... so we should block wealthy Asians from coming to Canada so that our kids can afford to live in Vancouver? Give me a fucking break! This guy is a negative charlatan

[Shukria123]

but these changing winds can turn cold and hostile...

[MrSupertwo]

I mean seriously dude, you're asking Government to come in and put an end to the Hot Real Estate market? Is this a Communist Country?

[christpunchers]

It's a global economy. If you can't compete, don't blame others who made it. If you want money, look for jobs internationally, not some place down the road.

[christpunchers]

Vancouver is a dead city in terms of big employment opportunities (even if you got the right degree). You have to go elsewhere for that.

[TOC359]

Everyone in Vancouver who has ears (and a brain) listen to this guy.....warning ......

[robert09501]

Does this effect apartments and condos too?

[quadcatfly]

instead of complaining, just take advantage of it. I have been flipping houses for the last 7 years making 6 digits each year for 2-3 weeks of work. Also just so u know Chinese that buy houses are NOT immigrants! In Canada anyone can buy a house legal resident or not. Until that changes, prices will continue up. Also I hear from Sutton that Brazilians are starting to discover Vancouver. Expect another 200-300% increase in the next 2 years. Brazil now is #7 economy in the world.

[Aaaaarrrrrrggghhh]

But I have to say that the past owners (probably native Canadians) in these cities have made a shit load of quick money.

[Aaaaarrrrrrggghhh]

Well, dude, I agree with you. It is not trying to be racist but I do agree that the bubble will burst at some point.

[sighbaru]

Same bullshit as Melbourne Vic and Sydney Nsw.

[yourmain]

Can't cover those outrageous mortgage payments, no problem, Can you SAY HOME STAY. Give a room to a Japanese foreign student for 900 bucks and cook up some mac and cheese and your good to go...This city is a a joke and pretending to be high class and sophisticated and what ever, the locals here just milk and eat out of overseas people's assholes PERIOD. With out ASIAN imported money, Vancouver could not afford to wipe it's own ass. Go read an econ.This city has nothing of its own to offer.

[yourmain]

Vancouver is not real, it is fake and micky mouse...No city in Canada and very few countries, as useless are able to milk and live fully off of foreigners blind capital inflows, for desperate immigration in to a safe haven. Essentially in a way we are black mailing ppl who want safety and security and saying you want in pay 800k and be a millionaire...We are great at that...I think it is just a tad bit too much for gettin to drive down King Edward and kingsway

[yourmain]

I definitely do not see any wealthy people aside from Chinese coming over. There are tons of people in europe who are rich and could come here and buy houses, however, they are not retarded enough.Vancouver is bullshite sold off to Asians who have seen only ASIA. .Only if you come from a hole in the ground in Asia, and have lived no where else and all you saw was Guanzouh village for 50 years would you have no probs pay 2 million for a shitehole in east van. No one in Europe would move here.

[yourmain]

5:14 no one is talking about it, because locals are living off of it and and MILKING IT. Umm cant make payment on your mortgage, umm no problem, more chinese come in, you house value goes up by a a few 100k and you refi the place and get 50 k out. Need a new Bently, Yatch ect. No problem just pull it out of your house, the neighbours house just sold hunny, some nice chinese ppl paid 1 million over asking, woooo hoooo, FREE FALL LOTTERY...Well our house is bigger and has a better view, were rich.

[yourmain]

Realtor and developers are not the only ones making profit sir 4:30. If you go to the city hall you will find a nice little pie chart on how the city raises it's money. The chart shows 70 percent or 3/4 from PROPERTY TAXES. PPTY prices have gone up 4 times in many places in Vancouver, and as you know so have ppty taxes. Ie the cities income has gone up almost 4 times in the past 10 years. With that kinda money, Vancouver better be not just nice to look at, should be gold plated...

[yourmain]

Ppl from good well developed socially and politically stable nations would and do not ever migrate to vancouver and buy a shitholee 1200 sqf rat infested house on 12th and cambie for 1.4 million dollars...Those homes real value is at most 20k..And yes I am a realtor and been to over 12 countries and nope Vancouver is not the most beautiful city in the Universe Mr. Politicians and CBC news ya goofs...

[yourmain]

Vancouver is fully overrated and is expensive because of Asians. It is not the best place to live, nor has the best climate, yes compared to CHINA it may but, I do not see too many Europeans, who could also afford million dollar homes migrating here???? Vancouver is the best place on earth if you migrate here from a Crappy country. And in turn the goverment only allows those migrating from crappy countries to be millionaires and deposti 800k to get in. HAHA Canada is Gangster...

[yourmain]

Those who dislike this video must have bought a home 20 years ago and just sold their homes to a millionaire chinese family and cashed in....

[yourmain]

Vancouver is not the most beautiful city, the reason we think so is because we do not have money to travel to see other cities and see how beautiful the world and it's cities are. The only reason Vancouver is priced where it is is our IMMIGRATION POLICY. PERIOD, politicians have exploited the wealthy Chinese demographic and in turn have lured and milk their invested money. We have a saying and don't say you don;t know. Vancouver has absoloutly no economy and houses should be worth 400k at most

[theplayaway]

This is so true.. the housing market is gonna drop

British columbia will be in a multi trillion dollar debt.

even burnaby is like 600k to 1.1 milli for a house

surrey is 330k to 600k

just wait, decade from now shits gonna drop and theres gonna be a huge crisis

im just out of high school im thinkin to myself how the fuck im i gonna aford a house..

your either privileged in this world or you gotta work hard for your shit

or in most cases people pack there whole familys into a household

[DesiRockMetal]

Many of my friends and my sister with BA degrees can't find job. I'll be getting out of school in about two years and if I'm one of the lucky ones to get a job, I will not be able to afford a house in Vancouver. I'm doomed if I stay here after graduation but I don't want to move cause this is home.

[OopeeShaba]

poor Vancouver :(

[Zac6230]

It's too late, it wont crash as long as China keep becoming a world economic power and the policies remain, every year when I lived there till 2010 morons would say it will crash next year and next year etc etc etc, never happened each time. it's not going to crash. I sold my false creek condo and got out, mortage free, to guess who?! Asians !

[Kingcire72x]

YOU NOT ONLY TOLD THE TRUTH YOU BUT YOU ADDRESSED ALL THE SAME ISSUES THAT I WAS ADDRESSING BEFORE I HAD TO LEAVE MY HOME OF NYC !

I FULLY SUPPORT YOU ON EVERYTHING YOU SAID!

[crsmejia]

That's right it's too late, but what is not too late is to block the emergency funding that realtors and people involved will need when this whole thing crashes. We're the future and for the realtors you're day is coming and the investors, well they'll probably just stay where ever they are. China is going through inflation issues, and no provincial money will be used to bail out realtors and their speculators!!

[vomitingdog]

JVCDude, it's too late.

[Maxobillion]

JCV Dude. Vancouver's "prosperity" will be its undoing. Your video hit the nail on the head!

[joemanhas]

Bubble bursting anytime soon?? Not a chance..

Joe Manhas

Sutton Group West Coast

bchomez.com

[warset]

lol ya the real estate is too high right now

i live in richmond, my house was 450k ish about 9 years ago, and now my neighbors with comparable houses are all selling at their houses 1.3 - 1.5 millions

the thing about vancouver house price is that price per square inche is actually a lot cheaper still than that of china and europe, so those guys can afford

and chinese immigrants want to move their asset to vancouver, cuz its still safer even if there is a bubble, it is a smaller safer bubble

[Zac6230]

@warset not true at all vancouver surpassed london and NYC

[warset]

@Zac6230

no, i dont mean the total price, i mean price per square foot

in richmond, u can get a 3500 sf house for 1 mill, thats abt $285/ sf; in beijing 2nd ring, its about $750/ sf; so the stuff u see here is nothing compared to beijing housing price in terms of price per area dimension; not to mention that in china u cant buy ownership, u can only buy rights to live in there for 75 years; so for immigrants from china, they would still go for it, and anything lower would be a steal

[bluehorse888]

the eradication of the middle class before our very eyes.

[BattleMaiinkon]

so this is becoming a Asian colony?

interesting...

[marklance30]

Let me also say to buy one of the condos down the street would cost us 500 000. Thats right, 500 000 for a 500 square foot condo. We would need to save at least 50 or 60 thousand down payment. With rent, insurance, student loan payments, taxes, the rising cost of gas and food. The only friends we have that own were ALL given money from their parents.

[marklance30]

This is very well said. I live in Vancouver in a 500 square foot one bedroom apartment. We pay 1300$ dollars a month. We want kids, but will probably not have them. We can't afford the 1600$ dollars for a two bedroom. Lots of our friends are either not having kids or having less children. Its a catch 22, move away and have a house, but give up all your friends and family. Crap situation.

[355000]

@marklance30 You know what the worst part of this is? Too much time has gone by, too many opportunities is lost. The job losses,crime increases,expensive housing, now the sled dog fiasco, and the HST. I actually thought we were making progress like a normal society. I must be out of my mind to stay here which I probably will because my family is here.

[eksistentialisti]

@marklance30 Man i am sorry for you, but this bubble will burst, just wait...

[bluehorse888]

@marklance30 You have to get out man. Thats what I did, it's tough at first, but you'll be surprised how fast you can adjust, especially when life is not such a struggle to make ends meat. Real estate is not for Vancouverites anymore. It's been turned into fiefdoms, with us being the surfs.

[355000]

Wanted to bash my face into a mirror the other day. Thats the bottom line, Im not happy. How am I and other people supposed to afford buying a house when in 30's or 40's of age. I've never seen such a devastating poor economy in B.C, and Ive read domestic violence reports and its on the rise. Indescribable evil is going on in our province but its very hidden.

[iguanarc]

VANCOUVER:

RAINS 10 MONTHS A YEAR

EVRYTHING OVERPRICED /TAXED AND FEED

PUBLIC TRANSPORT GETTING EXPENSIVE

JOBS O

FULL OF SNOOBISH PEOPLE, AND ASIANS INVADING THE WHOLE NORTHWEST

[anarchore]

Well it's class war. They are importing a wealthy elite into Canada, and the wealthy Canadians don't really care about average people, not as long as they can grab a piece of the pie for themselves.

[macthemec]

good video, Its nice to see someone else who has seen the rest of the world ans knows there ae lots of beautiful places out there (even if you drive 2hrs into the states) this market is a gaff, but the reason the politicians dont say anything is they dont want to rock the boat and cause everyone to dump their properties. the real estate market is the elephant in the room.

[NeverMind368]

It's sure going to be interesting to see what unfolds with this situation that's for sure.

[Landofnobody]

we do agree! i would say is the most beautifull city of canada !

[BLynchCAN]

We're going to hear that bang in Ontario.

[FrekeOne]

You're absolutely right. All the "rich" western citizens are in dept. Won't be long before Greece and Ireland and maybe US go bankrupt. Not because the situation right now but because of what is to come, watch this on Youtube: user/ChrisMartensondotcom#g/c/­7E8A774DA8435EEB

scary... the crazy houseprices are just the symptoms of what is unsustainable ways of society.

[EconoChallenge]

Well done. The topic is difficult but you did well.

[olaf2046]

Thank you for making this video!

[gorde80]

dont feed the birds thats why the stupid bird are like that

[2551bali]

... CORRECT assessment JCVdude !! Sell your overpriced house

and move to the interior along the slopes of Rocky Mountain BC/AB.

When the BIG one come to the West Coast you'll be glad you DID !!

Develop a new infrastructure based on GREEN technology

It might take a long time but think about your CHILDREN's FUTURE.

Politicians ? don't depend on them !! . MSM ? owned by the Elite !!

Support INDEPENDENT newspapers & radio stations.

[MyCarla27]

Vancouver....beautiful...here live my family...i like this city !!