Real Estate

Did we just hit the peak of the Toronto RE bubble?

  • Last Updated:
  • Jul 27th, 2017 4:15 pm
Tags:
None
Deal Addict
Feb 9, 2009
3809 posts
1493 upvotes
IndustrialKid wrote:
May 16th, 2017 12:33 pm
Again, ave. numbers don't mean anything really here. There is still rampant poverty among the majority of the population, but that doesn't stop the rich from getting richer and influence the world with their powers. The scary thing is, there's nothing anybody can do to stop this phenomenon.

The recent One Belt, One Road summit shows clearly that the Chinese are going to bypass the US dollar and build their own economic and political empire now. Just imagine in a decade or two when oil is worth pennies and all transactions are conducted in RMB, where would Canada be on the map?
China's playground lol

trudeau is desperate for that free trade
Sr. Member
User avatar
Jun 11, 2005
974 posts
153 upvotes
SmugDruggler wrote:
May 16th, 2017 12:57 pm
Do you seriously believe that China has more millionaires than the entire world?
no, and i never said that.

but i would not be surprised if china had more millionaires than canada's population
Sr. Member
User avatar
Jun 11, 2005
974 posts
153 upvotes
rich24 wrote:
May 16th, 2017 12:45 pm
Face With Tears Of Joy Lets tell communist China where all the Money is so they can come take it.
wish it was easy as that ;)
Banned
User avatar
May 8, 2017
458 posts
735 upvotes
Blehh wrote:
May 16th, 2017 2:21 pm
no, and i never said that.

but i would not be surprised if china had more millionaires than canada's population
@Sanyo @Veritate @Blehh
  • Canada has a population of 36,000,000
  • The entire world has 33,000,000 millionaires. Chart attached
  • How is it possible that China has more millionaires than there are millionaires in the world?
Images
  • Capture.PNG
_____
Housing bear who won't be a bear forever.
Follow my journey through the Toronto housing bubble on Twitter: @SoSudsy
Sr. Member
User avatar
Jun 11, 2005
974 posts
153 upvotes
SmugDruggler wrote:
May 16th, 2017 2:31 pm
@Sanyo @Veritate @Blehh
  • Canada has a population of 36,000,000
  • The entire world has 33,000,000 millionaires. Chart attached
  • How is it possible that China has more millionaires than there are millionaires in the world?
u're missing the point - there are many undocumented millionaires in china that will not show up in ur "charts"
Banned
User avatar
May 8, 2017
458 posts
735 upvotes
@Sanyo @Veritate -- is this your position too?
_____
Housing bear who won't be a bear forever.
Follow my journey through the Toronto housing bubble on Twitter: @SoSudsy
Sr. Member
Sep 14, 2007
560 posts
79 upvotes
SmugDruggler wrote:
May 16th, 2017 11:11 am
74% of Chinese assets are held in real estate. How do all these millionaires hide their millions in real estate?
By buying up cheap Canadian properties (and many other places they deem safe havens like US, London, Australia) and not reporting it to their government lol
That's why China implemented that capital outflow block and is monitoring everyone like eagle eye. Too many rich Chinese want to leave the country and the gov't wants to stop that. And yea, the census/survey is all made up. You think they use credit cards over there? No, it's all "gift cards" that are applicable to literally any store you can think of, and it's all done handed out under the table. You have no idea how much money is being laundered off the books.
Sanyo wrote:
May 16th, 2017 12:07 pm
You must also be talking about Canada now lol

Difference is in Canada the poor can lean on the gov't to give them stuff where in China they have to rely on themselves for everything. But the poor now in China like you said are getting rich from developers building. The city folks for the most part are rich already if they own real estate. Real estate is King in China. You can see them influence a great number of markets from Vancouver, Seattle, Sydney, Auckland, Los Angeles and Toronto.

Also in China there is a fear that the gov't could take everything away one day (hence why all these Chinese have invested in worldwide assets) whereas in Canada you dont have that fear.
In Canada, that gap is much more narrow, exactly due to being able to lean on government for help. Poor in Canada (just making up numbers here) might be working min wage at Mcdonalds on a single income for what $25k a year? Meanwhile the rich is $500k that loses half his money to taxes.

In China, poor is really poor. Nobody's gonna bail you out from not having an education/job. The rich get away from taxes with all the money laundering that's happening.
Newbie
Aug 16, 2013
81 posts
25 upvotes
SmugDruggler wrote:
May 16th, 2017 11:11 am
74% of Chinese assets are held in real estate. How do all these millionaires hide their millions in real estate?
Easy, by using corporate structures. I think what you are having trouble grasping is how corrupt and opague the entire country and its systems and its "millionaires" are.
Deal Expert
User avatar
Jan 27, 2004
36009 posts
2103 upvotes
Toronto
Sanyo wrote:
May 16th, 2017 1:22 pm
eww what a socialist way of thinking.... if you dont have people who can create the wealth, where is your publicly funded healthcare going to come from? From the sky magically?
There is a time and place... i'm right down the middle. Look @ the wise philosopht and thinking of our great capitalist billionaires like bill gates and warren buffet. They advocate donating massive amounts to charities. They plan to donate most of their fortunes ro charity before they die... leaving just enough to ensure their children survive and thrive... but not turn into a paris hilton.
Deal Addict
Feb 9, 2009
3809 posts
1493 upvotes
SmugDruggler wrote:
May 16th, 2017 2:31 pm
@Sanyo @Veritate @Blehh
  • Canada has a population of 36,000,000
  • The entire world has 33,000,000 millionaires. Chart attached
  • How is it possible that China has more millionaires than there are millionaires in the world?
When did I say they have more millionaires then the rest of the world? All I said was there is more wealthy people in China then you think.
Deal Addict
Feb 9, 2009
3809 posts
1493 upvotes
UrbanPoet wrote:
May 16th, 2017 5:51 pm
There is a time and place... i'm right down the middle. Look @ the wise philosopht and thinking of our great capitalist billionaires like bill gates and warren buffet. They advocate donating massive amounts to charities. They plan to donate most of their fortunes ro charity before they die... leaving just enough to ensure their children survive and thrive... but not turn into a paris hilton.
Im cool with those who help others -- but allow it to happen and dont let the gov't get their grubby little hands on our hard earned money -- we know that most gov't waste a great chunk of money on the stupidest stuff -- I can only imagine the waste that is spent and not discovered by the media...
Deal Expert
User avatar
Jan 27, 2004
36009 posts
2103 upvotes
Toronto
Sanyo wrote:
May 16th, 2017 6:45 pm
Im cool with those who help others -- but allow it to happen and dont let the gov't get their grubby little hands on our hard earned money -- we know that most gov't waste a great chunk of money on the stupidest stuff -- I can only imagine the waste that is spent and not discovered by the media...
There is a lot... I agree. Govt. waste is despicable.
But at the same time... I kinda see everything in an organic nature. Governments are run by humans... humans make mistakes. The intent of govt. is to instill order and peace in society... to help the greater good. Unfortunately... A little bit needs to be lost in order to gain.

Its been like this for centuries... Even millennia... Kings and Queens were meant to ensure society was orderly. But some King's were fat and ate way too much... some were noble, and some were pigs. Even the noble ones indulged... But if the peasants had enough land to feed themselves and their family... They were complacent.

But I do agree... keep bitching until change is made. Unfortunately... The only "bitching" I can do is with my votes... And online , and hopefully others will be engaged in our politics and communities :)
Deal Addict
Feb 9, 2009
3809 posts
1493 upvotes
SmugDruggler wrote:
May 17th, 2017 2:31 pm
This represents a perfectly healthy market, right?
http://torontolife.com/real-estate/chas ... en-person/

Top o' the bubble to you.
Have great jobs that should be within range.

Top of the bubble? More like you should get a better job and upgrade your skills buddy cause these are the type of people buying those homes. You can buy their condo if you want LOL

By the way read the couple under them... moved to a condo for $315k... after they were living in a bigger space. Maybe not everyone needs a detached house?

Top

Thread Information

There are currently 7 users viewing this thread. (5 members and 2 guests)

NotRobot, dantey, xuemike, skipper1979, Germack