Real Estate

Vancouver housing bubble?

  • Last Updated:
  • Jun 20th, 2019 2:03 am
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Deal Fanatic
Feb 29, 2008
7709 posts
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craftsman wrote:
Apr 13th, 2019 12:57 am
Let's not be racist here. Every race launders funds - it's standard operating procedures. It's just that the ones that are being shown in Vancouver are Chinese. I'm sure that if you go to London, England, they would be Eastern Europeans or Russian. And of course, in Italy, they would be Italian organized crime.
How am I being racist? All I read here is that the Chinese are laundering money. Every race launders but not in Canada. It’s just the Chinese? That seems to be the story from all the bears especially ivancouver.
[OP]
Deal Addict
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Dec 3, 2004
4996 posts
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Vancouver
JayLove06 wrote:
Apr 13th, 2019 8:17 am
How am I being racist? All I read here is that the Chinese are laundering money. Every race launders but not in Canada. It’s just the Chinese? That seems to be the story from all the bears especially ivancouver.
Obviously that is not true. I think it is clear you are trying to bait people into some kind of argument involving race and I hope people ignore it.
Deal Fanatic
Feb 29, 2008
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adamtheman wrote:
Apr 13th, 2019 4:39 pm
Obviously that is not true. I think it is clear you are trying to bait people into some kind of argument involving race and I hope people ignore it.
Nice try.
Sr. Member
Jun 7, 2017
644 posts
473 upvotes
adamtheman wrote:
Apr 13th, 2019 4:39 pm
Obviously that is not true. I think it is clear you are trying to bait people into some kind of argument involving race and I hope people ignore it.
Sorry, can you elaborate? Not following.
Deal Addict
Sep 6, 2010
1686 posts
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Vancouver
adamtheman wrote:
Apr 13th, 2019 4:39 pm
Obviously that is not true. I think it is clear you are trying to bait people into some kind of argument involving race and I hope people ignore it.
Huh??
[OP]
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Dec 3, 2004
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Furcorn wrote:
Apr 13th, 2019 10:02 pm
Sorry, can you elaborate? Not following.
gwplant wrote:
Apr 13th, 2019 10:46 pm
Huh??
JayLove06 came in and asked a ridiculous question "Is it only the chinese who are laundering money?". It would be like going into a driving thread and asking "Is it only the chinese who are bad drivers?". Obviously, no, chinese are not the ONLY ones laundering money in Canada. Only someone who is trying to "stir the pot" would ask such a question.

Here's just one recent example of non-Chinese money laundering:

https://globalnews.ca/news/5084587/hezb ... ering-ops/
They had stunning news. The DEA said an elite group of Middle East narco-terrorists in Colombia was using Canada as a key money laundering hub. According to a former senior U.S. official with knowledge of the meeting, the DEA had “dirty calls” — meaning calls providing criminal evidence of cocaine shipments and cash movements in Canada — from narco-kingpins in Colombia to a network of operatives in Halifax, Vancouver, Calgary, and London, Ont.
Deal Fanatic
Feb 29, 2008
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You don’t understand. It’s ok. Maybe it will come to you.
Sr. Member
Dec 30, 2012
801 posts
836 upvotes
Toronto
JayLove06 wrote:
Apr 12th, 2019 12:57 pm
Sound like a bear who missed out. This is an asinine thing to say because plenty of people lost money even during the heyday were they just unlucky it made dumb decisions? Do you need to be a genius? No but I find people like you try to find ways to cope with missing out and make comments like the above. So now you’re praying for a crash so you can feel validated.

But good to know the winners are lucky and the losers are unlucky. I hope you have that opinion across the board because it would be a controversial one.
Choclover has stated before that he owns a home in BC. He did not miss out. Some people value things other than perpetually and artificially inflated real estate.
Sr. Member
Dec 30, 2012
801 posts
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Toronto
Hey Adam could you update the original post for March?

I won’t leave people in suspense - red yoy again! Smiling Face With Open Mouth And Tightly-closed Eyes
Deal Fanatic
Feb 29, 2008
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civiclease wrote:
Apr 14th, 2019 7:08 am
Choclover has stated before that he owns a home in BC. He did not miss out. Some people value things other than perpetually and artificially inflated real estate.
And some people just wanna see the world burn. I still stand by what I said.

I’d also like prices to come down on everything else as those prices are artificially inflated as well. Don’t go half ass. Go all the way. We live in society where everything is propped up. The revolution ain’t coming buddy and what we are seeing now is prices being artificially deflated by policy. I have no idea why you’re laughing.
Sr. Member
Dec 30, 2012
801 posts
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Toronto
JayLove06 wrote:
Apr 14th, 2019 8:28 am
And some people just wanna see the world burn. I still stand by what I said.

I’d also like prices to come down on everything else as those prices are artificially inflated as well. Don’t go half ass. Go all the way. We live in society where everything is propped up. The revolution ain’t coming buddy and what we are seeing now is prices being artificially deflated by policy. I have no idea why you’re laughing.
Desiring a sensible housing policy that puts the interests of Canadian citizens ahead of the interests of foreigners and/or passport shoppers is not the equivalent of wanting everything to burn.
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Oct 7, 2007
4606 posts
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civiclease wrote:
Apr 14th, 2019 8:47 am
Desiring a sensible housing policy that puts the interests of Canadian citizens ahead of the interests of foreigners and/or passport shoppers is not the equivalent of wanting everything to burn.
Civiclease, I appreciate the support and would like to say that you sound like the kind of person that makes our society better because you're in it. You also sound like you understand the devastation created by exorbitant housing prices.

I am lucky to live in a small pocket of the City where most of my neighbours have lived in the same house throughout the last 20 years or so of housing madness and have opted not to sell throughout the period of rapidly rising prices even though they could have "made a fortune". I say that I am lucky because for a City like Vancouver, where I live really feels like a community. We all know each other and are mostly friendly with each other and have even worked together on different issues to protect the neighbourhood we all value and love. Through this process, I have come to appreciate what living in a community means and why housing is not just an investment but it gives people who want to belong to a community an anchor and a sense of well-being.
Deal Fanatic
Feb 29, 2008
7709 posts
2888 upvotes
civiclease wrote:
Apr 14th, 2019 8:47 am
Desiring a sensible housing policy that puts the interests of Canadian citizens ahead of the interests of foreigners and/or passport shoppers is not the equivalent of wanting everything to burn.
Sensible? No problem. Cheering for an 80% crash? Nothing sensible about that.
[OP]
Deal Addict
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Dec 3, 2004
4996 posts
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Vancouver
civiclease wrote:
Apr 14th, 2019 7:13 am
Hey Adam could you update the original post for March?

I won’t leave people in suspense - red yoy again! Smiling Face With Open Mouth And Tightly-closed Eyes
Done and done. Now at 7 months in a row of RED, which ties the previous record from Jan/09 to Jul/09. But this is much worse.

DETACHED SALES

Mar 2019 = 529 sales @ $1.59m avg
Mar 2018 = 722 sales @ $1.61m avg
Mar 2017 = 1150 sales @ $1.71m avg
Mar 2016 = 2135 sales @ $1.78m avg

Look at that March 2016. That's over 4 times the detached sales as March 2019, and at a higher average price too. Let the good times roll.
Sr. Member
Dec 30, 2012
801 posts
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Toronto
adamtheman wrote:
Apr 14th, 2019 2:15 pm
Done and done. Now at 7 months in a row of RED, which ties the previous record from Jan/09 to Jul/09. But this is much worse.

DETACHED SALES

Mar 2019 = 529 sales @ $1.59m avg
Mar 2018 = 722 sales @ $1.61m avg
Mar 2017 = 1150 sales @ $1.71m avg
Mar 2016 = 2135 sales @ $1.78m avg

Look at that March 2016. That's over 4 times the detached sales as March 2019, and at a higher average price too. Let the good times roll.
Yes and as bad as detacheds look, the biggest declines happening right now are actually condos. After a couple years of stubborn sellers, prices are now FINALLY starting to fall off a cliff.

Vancouver and Richmond condo prices -20% yoy according to Zolo (month ending April 11).
Burnaby condo prices -10% yoy.
West Vancouver has 117 condos as active listings and 0 (zero!) sales in the past month.

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