I have to say good luck from someone further down the coast. I live in the bay area of California and three years after the pop; the housing market is like a zombie propped up by east asian investors, shadow inventory and deluded sellers. All hidden being the mask of desirability's and a glamor IT industry that contributes far fewer jobs than is said. Ya know, just like Vancouver. Only thing is the that you guys might get it right as the Chinese bubble pops. What a crash!
Wealthy mainland Chinese Immigrants will take place so Vancouver RE will prosper for this century.Vancouver will rely on Chinese Navy against US aggression.
The 2nd generation of Chinese here are called banana's - they hate china as much as any canadian because they are canadian. When the chinese leader arrived, nobody showed up to greet him so he sends a memo to all chinese students ORDERING them to appear.
Ummm......my 777 sf condo costs $500 per square foot. It doesn't back fire because it will be $800 per sq ft in the not too long future. My mom's 1600 square foot 50 year old home was purchased for $250k 20 years ago, today it's worth $2,000,000. The deal here is this....buy what you can and flip it to the Chinese and buy your final house in CASH in the suburbs about 45 minutes from Vancouver. nobody is laughing when you are young and starting off.
@Quartz482 Yeah I remember the morons in America saying the same bs about their housing market (just before it went belly up in 2008). I don't care how many Chinese play hot potato with the Vancouver housing market, it is not healthy for Canada and certainly not sustainable by any stretch of the imagination. I don't have to buy a 500 dollar p sqf house, I'll rent until the bubble goes POP and be happy.
People have been praying for a bubble in Canada for the past 5 or so years. Today the prices are now well beyond their reach. They had the money but were betting for a bubble and lost that bet along with any hope for home ownership. Those that bet the market would heat up have $100's of thousands of dollars in their bank accounts. My mom had no savings but all her money went to her home. Today she owns a house outright with over $1,000,000 in her account.
@Quartz482 I remember the same type of gloating in SoCal before I left, now people are putting bullets in their head when the bank takes the house. And those gloaters are all crying for governement bailouts and whining about how they aren't being helped by the banks. Your wealth is imaginary, unless you sell it now. You will be truely surprised how quickly a million dollars in paper money can be gone.
The USA was a bloated unregulated no-mans land - Wall Street is so corrupt and sick. Everything about the USA is fake. Fake boobs, fake faces, fake economy. Do not compare Canada to the USA. We don't have unregulated derivitive markets. Less govt? Well, you certainly got it and btw "less govt" means less eye's on wall street - its not about less people working at the DMV.
@Quartz482 I totally agree with everything you just said. Still doesn't mean your housing market is not a bubble. Your government is certainly better than ours, and your stock exchange is better regulated, but your housing market is suffering from classic hot-money and follow the leader mentality. Not supported by the peoples salaries and not regulated by the government.
Shoulda married an asian dude Elaine, have fun w/ Newfie winters
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AbsoluteZeroMusic 4 months ago
I have to say good luck from someone further down the coast. I live in the bay area of California and three years after the pop; the housing market is like a zombie propped up by east asian investors, shadow inventory and deluded sellers. All hidden being the mask of desirability's and a glamor IT industry that contributes far fewer jobs than is said. Ya know, just like Vancouver. Only thing is the that you guys might get it right as the Chinese bubble pops. What a crash!
Danaceb 4 months ago
Comment removed
Danaceb 4 months ago
Wealthy mainland Chinese Immigrants will take place so Vancouver RE will prosper for this century.Vancouver will rely on Chinese Navy against US aggression.
fgah 4 months ago
The 2nd generation of Chinese here are called banana's - they hate china as much as any canadian because they are canadian. When the chinese leader arrived, nobody showed up to greet him so he sends a memo to all chinese students ORDERING them to appear.
Quartz482 4 months ago
@fgah Whoa... you talk scary. But... something about being safe from the ass-hats down south really makes me smile. Thanks. Heheh.
wierdfirehydrant 4 months ago
But you can buy an 800 sqf shit shack for 400,000 dollars over there! How could that possibly backfire? LMAO
mookixox 4 months ago
Ummm......my 777 sf condo costs $500 per square foot. It doesn't back fire because it will be $800 per sq ft in the not too long future. My mom's 1600 square foot 50 year old home was purchased for $250k 20 years ago, today it's worth $2,000,000. The deal here is this....buy what you can and flip it to the Chinese and buy your final house in CASH in the suburbs about 45 minutes from Vancouver. nobody is laughing when you are young and starting off.
Quartz482 4 months ago
@Quartz482 Yeah I remember the morons in America saying the same bs about their housing market (just before it went belly up in 2008). I don't care how many Chinese play hot potato with the Vancouver housing market, it is not healthy for Canada and certainly not sustainable by any stretch of the imagination. I don't have to buy a 500 dollar p sqf house, I'll rent until the bubble goes POP and be happy.
mookixox 4 months ago
People have been praying for a bubble in Canada for the past 5 or so years. Today the prices are now well beyond their reach. They had the money but were betting for a bubble and lost that bet along with any hope for home ownership. Those that bet the market would heat up have $100's of thousands of dollars in their bank accounts. My mom had no savings but all her money went to her home. Today she owns a house outright with over $1,000,000 in her account.
Quartz482 4 months ago
@Quartz482 I remember the same type of gloating in SoCal before I left, now people are putting bullets in their head when the bank takes the house. And those gloaters are all crying for governement bailouts and whining about how they aren't being helped by the banks. Your wealth is imaginary, unless you sell it now. You will be truely surprised how quickly a million dollars in paper money can be gone.
dlarson707 4 months ago
The USA was a bloated unregulated no-mans land - Wall Street is so corrupt and sick. Everything about the USA is fake. Fake boobs, fake faces, fake economy. Do not compare Canada to the USA. We don't have unregulated derivitive markets. Less govt? Well, you certainly got it and btw "less govt" means less eye's on wall street - its not about less people working at the DMV.
Quartz482 4 months ago
@Quartz482 I totally agree with everything you just said. Still doesn't mean your housing market is not a bubble. Your government is certainly better than ours, and your stock exchange is better regulated, but your housing market is suffering from classic hot-money and follow the leader mentality. Not supported by the peoples salaries and not regulated by the government.
dlarson707 4 months ago
Comment removed
dlarson707 4 months ago