Real Estate

Vancouver housing bubble?

  • Last Updated:
  • Jul 18th, 2019 1:10 pm
Tags:
None
Member
Nov 10, 2005
258 posts
115 upvotes
Motoss wrote:
Jan 30th, 2016 12:42 am
Ouch...

"Recent deals on some key Vancouver properties at astronomical prices have politicians, planners, and the B.C. Securities Commission concerned about the level of speculation, misrepresentation or plain ignorance emerging".

http://www.theglobeandmail.com/news/bri ... e28471686/
Anyone with half a brain knows what's really going on with Vancouver real estate. It's a bubble built on speculation and corruption.

This is terrible for Vancouver. This is already resulting in a brain-drain because Canadians can't afford to live there.
The result is ghost homes/neighbourhoods owned by people who care nothing about the city in which they've used to launder their money.
Deal Addict
User avatar
Sep 16, 2012
3068 posts
317 upvotes
Mississauga
Motoss wrote:
Jan 30th, 2016 12:42 am
Ouch...

"Recent deals on some key Vancouver properties at astronomical prices have politicians, planners, and the B.C. Securities Commission concerned about the level of speculation, misrepresentation or plain ignorance emerging".

http://www.theglobeandmail.com/news/bri ... e28471686/
interesting where these companies are selling these properties before anything actually gets approved, guess some investors might get rude awakening if nothing happens on these new developments.
Deal Addict
User avatar
Mar 26, 2015
2573 posts
435 upvotes
BC
berklon wrote:
Jan 30th, 2016 12:31 pm
Anyone with half a brain knows what's really going on with Vancouver real estate. It's a bubble built on speculation and corruption.

This is terrible for Vancouver. This is already resulting in a brain-drain because Canadians can't afford to live there.
The result is ghost homes/neighbourhoods owned by people who care nothing about the city in which they've used to launder their money.
When will people wake up to the fact that it isn't a problem of the Chinese, Russian, Iranian, and Americans?

It's a problem MADE and PERPETUATED by the Government.

The Government is the one that sets the policies, rules and regulations that allow any wealthy people to come in and scoop up real estate, like there is no tomorrow.

It is the Government who sells out its people, whilst crying surprise at "developments" and faking concern.

People - i.e. Canadians - need to wake up and see where the real problem is. The wealthy foreigners and locals are doing what any of us would do if we were that rich - it's the Government which is the true aider and abetter

Christy Clark is on record saying that she doesn't want house prices to fall - what does that mean?
Go Raptors, Go!
Deal Addict
User avatar
Mar 26, 2015
2573 posts
435 upvotes
BC
Yes but this is not news anymore - these stories, and others, have been circulating for 10 years at least,

The Government is just making noises - not doing anything. it's a joke. Who cares how many "reports" there are.

Chinese communities themselves (local ones) have been protesting for a long time too - who cares?

No-one.

It's just headlines and to be frank, the Governments inaction is causing a tide of ill will - and they again don't seem to mind..I'm baffled. Anyway. I don't know enough about this stuff I guess. lol
Go Raptors, Go!
Banned
Dec 12, 2015
278 posts
32 upvotes
Toronto, ON
canucky1 wrote:
Jan 31st, 2016 1:36 pm
Yes but this is not news anymore - these stories, and others, have been circulating for 10 years at least,

The Government is just making noises - not doing anything. it's a joke. Who cares how many "reports" there are.

Chinese communities themselves (local ones) have been protesting for a long time too - who cares?

No-one.

It's just headlines and to be frank, the Governments inaction is causing a tide of ill will - and they again don't seem to mind..I'm baffled. Anyway. I don't know enough about this stuff I guess. lol
These stories have been around since the 80s in Vancouver
Sr. Member
Aug 6, 2014
760 posts
205 upvotes
Ottawa, ON
is anyone actually leaving vancouver, though? are couples in their 20s/30s leaving to raise families in places where they can have a house and a yard? are students bouncing after they graduate?
Deal Expert
User avatar
Feb 9, 2003
17686 posts
2376 upvotes
Langley
fisher44 wrote:
Feb 11th, 2016 4:02 pm
is anyone actually leaving vancouver, though? are couples in their 20s/30s leaving to raise families in places where they can have a house and a yard? are students bouncing after they graduate?
I think so. And another affect is that people move a little further out. I grew up and went to school in Surrey. Most of my HS friends seem to live in Langley now. My wife is from Langley, and a lot of her friends have moved to Aldergrove/Abbotsford. Close enough that you're still nearby family and such, but saving some money every KM east that you go.

But having said that, I do have a few friends that grew up in the burbs and moved to Vancouver, they just love the city life. But they rent, or own very small places. Try raising two kids in a 700sqft 2br condo.
Jr. Member
User avatar
Sep 8, 2008
174 posts
16 upvotes
Vancouver, Canada
fisher44 wrote:
Feb 11th, 2016 4:02 pm
is anyone actually leaving vancouver, though? are couples in their 20s/30s leaving to raise families in places where they can have a house and a yard? are students bouncing after they graduate?
I was thinking to move out not only from Vancouver but from Canada to USA. I have Canadian friends in various regions of US Illinois, Texas who recently bought 5000 sqft 7+ bedroom mansions for 250K - 350K. But the problems in US is there is fear of personal life security because of loose gun controls & higher number of crimes and medical premiums which when combined equates to the rent or mortgage payments you pay for a 2.5 Bedroom condos here. So we kinda watching it but it is there in back of our mind. It would be very painful to leave Yvr when we decide to move but we have to think about our retirement savings and for our children education when they reach University.
Newbie
May 20, 2012
97 posts
8 upvotes
VANCOUVER
fisher44 wrote:
Feb 11th, 2016 4:02 pm
is anyone actually leaving vancouver, though? are couples in their 20s/30s leaving to raise families in places where they can have a house and a yard? are students bouncing after they graduate?
I know for a fact that places like Victoria and Squamish are filling up with young couples who have left Vancouver. Also smaller communities on the island.
Deal Addict
Feb 14, 2007
1327 posts
349 upvotes
van800 wrote:
Feb 11th, 2016 6:54 pm
I know for a fact that places like Victoria and Squamish are filling up with young couples who have left Vancouver. Also smaller communities on the island.
Yes, Sechelt/Gibsons, Powell River on the mainland too.

Top

Thread Information

There are currently 2 users viewing this thread. (0 members and 2 guests)