Real Estate

Vancouver housing bubble?

  • Last Updated:
  • Mar 25th, 2017 5:13 pm
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Jr. Member
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Dec 13, 2016
164 posts
93 upvotes
kashirin wrote:
Mar 12th, 2017 7:28 am
the average asking price of a 70 sqm (753 sq ft) apartment in greater Tokyo in May was 29,980,000 Yen

that's 350K canadian. definitely cheaper than toronto

I really like how RE bulls still try to rationalize Toronto RE price using fake data

But this BeigeToyota is particular in spitting all that fake sh-t

And do you have any real life experience besides googling things? This is the area that includes places like Narita. This is worse than comparing Milton to Toronto.

Fake news.
Deal Addict
Nov 26, 2005
3049 posts
223 upvotes
Vancouver
2014 condo sold in Ginza, toyko, not some narita area
All 28 apartments offered during the first round of sales in Mitsubishi Jisho Residence’s The Parkhouse Higashi Ginza sold out on the same day.

The 13-storey apartment building is located a 1 minute walk from Shintomicho Station and is 700 meters from Ginza’s Chuo Dori Street. Apartments range in size from 70 ~ 81 sqm (753 ~ 872 sqft) and are all 3-bedrooms. Prices ranged from 74 ~ 108 million Yen (640,000 ~ 920,000 USD), with an average price of around 1,240,000 Yen/sqm.
avg price using today's exchange rate is 1352.31 cad$/sqft

took 3 min to look at listings in toyko
http://www.tokyoapartment.com/en/forsal ... 100&page=1
Deal Addict
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Aug 7, 2007
2367 posts
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GTA
I'm kinda skimming through these last pages but why are comparisons being made between Japan and Canada? When Japan has 5-6 times the population of Canada and is massively smaller than Canada?
Deal Expert
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Oct 26, 2003
25792 posts
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Winnipeg
ADRiiAN` wrote:
Mar 12th, 2017 5:17 pm
I'm kinda skimming through these last pages but why are comparisons being made between Japan and Canada? When Japan has 5-6 times the population of Canada and is massively smaller than Canada?
density of all world class cities are more or less similar
Deal Addict
Feb 9, 2009
2485 posts
512 upvotes
Ban foreigners from buying property temporarily for now and the bubble would pop so fast and so quick..
Deal Fanatic
Jan 27, 2006
5526 posts
1223 upvotes
Vancouver, BC
Here's a followup article to one in the Vancouver Sun a few months back about foreign buyers going to Seattle - 'This is Vancouver deja-vu': How Seattle's housing market is making way for foreign buyers

A few highlights -
In the months following the introduction of the landmark policy, business down south has been booming at a near exponential rate, according to Seattle real estate broker Dean Jones.
Jones says the introduction of a foreign buyers tax last summer almost immediately sent a ripple through Seattle's housing market. By the end of the year, roughly half of the luxury homes sold in the area were to foreign buyers, up from a third in 2015, and 25 per cent in 2014.
"Some of the savvy Chinese buyers understand the impact of becoming a preferred market place. They simply know the weight of that investment and what it can mean over time — even in as little as five years."
Jr. Member
Feb 13, 2017
120 posts
106 upvotes
Sanyo wrote:
Mar 12th, 2017 8:51 pm
Ban foreigners from buying property temporarily for now and the bubble would pop so fast and so quick..
For sure...lets also charge foreigners twice the sales tax on all products they buy.....or instead....lets just ban them all from ever stepping foot in Canada and have the bubble pop tomorrow!

#trump2020..make Canada great again
Jr. Member
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Dec 13, 2016
164 posts
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Sanyo wrote:
Mar 12th, 2017 8:51 pm
Ban foreigners from buying property temporarily for now and the bubble would pop so fast and so quick..
Let's also take away every Canadian passport and encourage local spending only....After all, good things grow in Ontario.
Deal Addict
Feb 9, 2009
2485 posts
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BiegeToyota wrote:
Mar 13th, 2017 9:44 am
Let's also take away every Canadian passport and encourage local spending only....After all, good things grow in Ontario.
Yep... it's called protectionism -- we do it with our banks and some other sectors (why dont we scream about that? Why cant a Chinese bank buy out a Canadian bank? Cause there's a reason for that...)-- if there is truly a lot of domestic demand, then it's time to ban foreigners -- China did the same thing for a long time and only recently had a new rule where you have to live a year in the country to own real estate... i dont even mind that
Deal Addict
Feb 9, 2009
2485 posts
512 upvotes
crocp8 wrote:
Mar 13th, 2017 8:41 am
For sure...lets also charge foreigners twice the sales tax on all products they buy.....or instead....lets just ban them all from ever stepping foot in Canada and have the bubble pop tomorrow!

#trump2020..make Canada great again
Why dont we change our protectionist laws on things like dairy, wheat and banking? Why cant a Chinese bank buy a Canadian bank?

Sometimes you need to do stuff to benefit YOUR OWN CITIZENS and not worry about what others think. If people want to immigrate here, great, if its just to speculate to buy property, its time to ban...
Member
Jan 14, 2009
467 posts
108 upvotes
Vancouver, BC
Sanyo wrote:
Mar 13th, 2017 11:46 am
Why dont we change our protectionist laws on things like dairy, wheat and banking? Why cant a Chinese bank buy a Canadian bank?

Sometimes you need to do stuff to benefit YOUR OWN CITIZENS and not worry about what others think. If people want to immigrate here, great, if its just to speculate to buy property, its time to ban...
We should aim to eliminate the other protectionist barriers not add more.
Deal Addict
Feb 9, 2009
2485 posts
512 upvotes
zakarydoks wrote:
Mar 13th, 2017 12:29 pm
We should aim to eliminate the other protectionist barriers not add more.
Protectionist barriers are there for a reason -- almost every country has some kind of protectionism... nothing wrong with it.

There are certain sectors that I would say needs to open up (Dairy for example) but thats a topic for another thread.
Deal Fanatic
May 1, 2012
5607 posts
1716 upvotes
Markham
Sanyo wrote:
Mar 13th, 2017 11:46 am
Why dont we change our protectionist laws on things like dairy, wheat and banking? Why cant a Chinese bank buy a Canadian bank?

Sometimes you need to do stuff to benefit YOUR OWN CITIZENS and not worry about what others think. If people want to immigrate here, great, if its just to speculate to buy property, its time to ban...
In a world of Globalization, we as Canadians should be looking at deterring protectionism... not add towards it. If you isolate yourself from the world, then the world in-turn will isolate you. This would lead to an abysmal economic situation in Canada that would essentially destroy our country. Think about North Korea or Eritrea kinda situation.

You are being very ignorant if you think that we should do what Trump is doing south of the border. Protectionism doesn't exist or work in this global economy. The protections you see that the Canadian Governement imposes onto the banking sector or telecommunications sector has more to do with Federal interests than it has to do with protectionism of the general populace. A few classes in macroeconomics or general business would do you well.
These free trade agreements between nations and continents are not there to stifle growth or price out local populaces. These free trade agreements are there to be inclusive of trade. No nation can sustain without foreign trade.
Deal Addict
May 31, 2007
3342 posts
342 upvotes
The investment we need from the world is building factories and business here to create jobs, not buying houses all up for a tax free gain to possibly move your family in leech of the social system and dilute our jobs market with too many immagrants. A bad loophole they need to plug and work on making Canada competitive for proper investment and growth.

We know how globalization shifts the jobs to the cheapest labour leaving the middle class more like the poor class now.
Member
Jan 14, 2009
467 posts
108 upvotes
Vancouver, BC
Sanyo wrote:
Mar 13th, 2017 12:39 pm
Protectionist barriers are there for a reason -- almost every country has some kind of protectionism... nothing wrong with it.

There are certain sectors that I would say needs to open up (Dairy for example) but thats a topic for another thread.
Protectionist barriers inevitably harms one group in order to benefit another group. Who decides which group should be harmed and to what degree? I don't even trust myself with that kind of power. Barriers toward North Korea IMO is justified because the situation is very critical. The bar should be set high. A small number of uncompetitive malcontents who cannot afford detached homes in the city centres of Vancouver and Toronto does not merrit government actions. Life is not a safe space.
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