Real Estate

Vancouver housing bubble?

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  • Feb 14th, 2020 9:54 am
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Deal Addict
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Mar 26, 2015
2573 posts
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BC
izzyzz wrote: That is a good point. Even at current exchange rate, the American RE is often a far better value. As I mentioned above, it is the RE industry insiders that are pushing the narrative that the foreign buyers (who, by all available stats, represent less than 5% of the market) are going to start buying RE en masse and keep pushing the prices up. It's BS and they know it.
+1 Yet they are profiting big time
Go Raptors, Go!
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May 27, 2007
214 posts
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popbottle wrote: to the moon ladies and gentlemen

http://www.vancourier.com/news/u-s-rate ... -1.2134340
"U.S. rate hike expected to boost B.C. exports and Vancouver home prices - See more at: http://www.vancourier.com/news/u-s-rate ... Ae0TQ.dpuf"
One must think popbottle has astronaut fetish. I left this thread for like half a year and every second post still starts with "To the moon!". I shudder to think about how he is in real life.
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Dec 14, 2007
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TWDM wrote: One must think popbottle has astronaut fetish. I left this thread for like half a year and every second post still starts with "To the moon!". I shudder to think about how he is in real life.
Oh... he's a space cadet all right.
Deal Expert
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Jan 27, 2004
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T.O. Lotto Captain
popbottle wrote: Its well known that its about the foreign buyers. Especially with the Canadian dollar being down property in Canada is a much improved investment, particularly with property taxes in Canada being one third to one half of those in most of the US.

http://calgaryherald.com/storyline/its- ... in-calgary
"Christina Hagerty, a realtor with RE/MAX Realty Professionals in Calgary, said there has been an increase in foreign investors in the local market. "
This is all yellow peril.
Blame the foreigners! blame those damn minorities. hyuk hyuk.
Its strictly anecdotal. Foreign ownership represents a very small %. Even if they completely disappeared from the equation... home ownership cost would still be driven up due to the low cost of borrowing and social paradigm in Canada which favors home ownership.
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Jul 9, 2004
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Delta
You can't trust anything these RE pumpers say. One day they'll say the foreigners are coming so buy now or buy never, but when people get worked up and want to limit foreign investment, they'll come around and say oh but there really isn't so much foreign investment after all. Never take propaganda seriously.
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Dec 14, 2007
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dighn wrote: You can't trust anything these RE pumpers say. One day they'll say the foreigners are coming so buy now or buy never, but when people get worked up and want to limit foreign investment, they'll come around and say oh but there really isn't so much foreign investment after all. Never take propaganda seriously.
If you repeat something enough and get enough household names to repeat the same thing, everyone will believe it.

In other news... how to own a house in Vancouver:
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Dec 14, 2007
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popbottle wrote: No idea about fiddling with google street view however it's well known among people that live here that's it's all about the off shore purchases
Current house owners in pictured properties are on-shore. One's Vietnamese, one's Chinese, not sure the others. So... I guess to a casual observer, one could imagine them as off-shore buyers. In any case off-shore buyers that can't afford a house without needing income from 3 suites and a laneway house aren't too much of a concern.

It's well known among well-informed people that live here that's it's all about the idea of off shore purchases.

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