it only means money will come to real estate, actually it is already happening. Just ask the big names Chinese realtors in Vancouver.so.... does this mean Vancouver real estate will go even higher?
Define foreign buyer? a family immigrates to from China, buys a million and half dollars house, husband goes back to China while wife and kids stay. Are they mainland Chinese buyers or Canadian buyers? They are Canadians. In fact family like this ones have been almost single handed driving up Vancouver single house price. It is never the foreign buyers but the foreign money that is to blame. It is surprising how the main stream media have been debating the impact of foreign buyers. It is like going to a funeral without knowing who is dead. Jimmy I am surprised you buy into such official crapAs has been said, foreign buying is a small part of the market. Could be pushing up prices in some areas. But, are they paying a million for a house in McDonalds parking lot?
The real problem is the lack of supply. How high does prices have to go before enough supply comes online? When will interest rates return to normal?
Well, I'm not going to debate the demographics thing because you are right, we don't have the data.
I will say that Mass Transit improvements will *definitely* help a lot, but alongside mass densification as well. I read some dumb thing recently where they don't want to densify along the skytrain corridor. That is really really dumb. Skytrain should be improved to handle mass densification along the stations.
I rarely agree with little Jimmy but this time I do. ETB2, I think he's talking to you.So, don't count your millions until you have cash in hand. The Vancouver bull trend is powerful, until the trend turns.
Jimtan wrote:I rarely agree with little Jimmy but this time I do. ETB2, I think he's talking to you.So, don't count your millions until you have cash in hand. The Vancouver bull trend is powerful, until the trend turns.