Real Estate Talks

http://www.theglobeandmail.com/news/bri ... e27056534/

sad.

Its sad, its a shame.

Not sure how anyone could possibly see this as a positive? I would like to hear the upside?

those stories are all bs, and i don't believe one word of that unless somebody admitted to me "sure I have money, so I buy and/or build new house and let it rot and ruin for fun".

more things for people to get jealous about lol

http://www.theprovince.com/business/van ... story.html

if you're a grumpy old bugger and don't want any neighbours the west side is perfect. Sound like any one we know?

http://www.cknw.com/2015/11/02/new-case ... ef=twitter
“I’m very concerned with the racist tones that are implied here, and we have to get away from that. We have to deal with this as a housing challenge we have.”

I love the evolution here. We've gone from chinese aren't buying up vancouver RE, to we don't know who's buying the RE, and now it's chinese are buying it, but that's OK.

Austin:

and now it's chinese are buying it,

.... some of us have said that all along.

Vanpro didn't believe us.

http://www.theprovince.com/business/van ... story.html

The dominant influence of Chinese investors in Vancouver has finally been proven with comprehensive data.

In a recent six-month period about 70 per cent of all detached homes sold on Vancouver’s west side were purchased by Mainland China buyers, an academic case study shows.

Even more stunning, the study shows that of all self-declared occupations among owners — on homes worth an average $3.05 million — 36 per cent were housewives or students with little income.

so there's a housewife so what

In a recent six-month period about 70 per cent of all detached homes sold on Vancouver’s west side were purchased by Mainland China buyers, an academic case study shows.Even more stunning, the study shows that of all self-declared occupations among owners — on homes worth an average $3.05 million — 36 per cent were housewives or students with little income.

This is what ETB has been saying for quite some time that it is all about wealth, not income.

Scoobydoo:

This is what ETB has been saying for quite some time that it is all about wealth, not income.

...exactly.
And...where is the wealth coming from?
It was generated offshore, it's not local.
It was brought in because of the global movement of money. And the result is it has dislodged the majority of Canadians from ever being able to own.

So, yes, the argument of real estate prices being totally based on Fundamentals is actually correct. Where some of our members have been led to a mistaken view of future prices is that they have not recognized the fact that HAM is a major driver of Canadian real estate prices.

So lets get back to Fundamentals, but all the Fundamentals....the NEW Fundamentals.