This is a friendly, interactive exchange of information on all Real Estate related subjects. Follow on Twitter: @RETALKS


Moderator: admin

 
User avatar
SethM
Real Estate Talker
Topic Author
Posts: 1014
Joined: Thu May 27, 2010 3:32 pm
Contact:

B.C. In-migration Turns Negative

Tue Oct 04, 2011 12:04 am

Looks like young people are leaving Vancouver for higher wages and lower house prices.

I guess this means prices will go up because it leaves more room for rich, Mainland Chinese.
 
vanpro
Real Estate Talker
Posts: 1863
Joined: Fri Sep 04, 2009 12:32 pm
Contact:

Re: B.C. In-migration Turns Negative

Tue Oct 04, 2011 5:54 am

Thanks SethM, great news story on the reality of what's going on here on how crazy unaffordable Vancouver's housing market and how low our incomes are relative to rest of Canada causing people to leave for more affordable places with better economic/job opportunities.
 
eyesthebye
Real Estate Talker
Posts: 5863
Joined: Tue Jan 06, 2009 2:53 pm
Contact:

Re: B.C. In-migration Turns Negative

Tue Oct 04, 2011 6:32 am

I guess this is the (albeit far less significant) other side of the coin.

Asian in (45,000/year)
everyone else out (4,000/year).

Vanpro, try getting the federal government to change immigration rules. And, try convincing the prov gov't
that asian investment isn't prudent. Do you honestly think that this current prov gov't would do anything to stop
the flow of money coming in from asia? Yes, this means immigration

http://www.theprovince.com/business/Cla ... drop_story
the cure for higher prices is moving to a destination with lower prices
 
vanpro
Real Estate Talker
Posts: 1863
Joined: Fri Sep 04, 2009 12:32 pm
Contact:

Re: B.C. In-migration Turns Negative

Tue Oct 04, 2011 6:53 am

I guess this is the (albeit far less significant) other side of the coin.

Asian in (45,000/year)
everyone else out (4,000/year).

Vanpro, try getting the federal government to change immigration rules. And, try convincing the prov gov't
that asian investment isn't prudent. Do you honestly think that this current prov gov't would do anything to stop
the flow of money coming in from asia? Yes, this means immigration

http://www.theprovince.com/business/Cla ... drop_story
Latest stats I posted link to in other thread (re-posted below) disproves this myth of yours....Total population stats show that international immigration has plunged to near 10 year low and, after out-migration is accounted for (as indicated in the news video posted by SethM and confirmed in the population stats in the link below), overall population growth is plunging to less than 1% per annum - also near 10 year lows....Also, please provide link to implied assertion that Asian immigrants have overall greater wealth and incomes than Vancouverites that are leaving and why that doesn't show up in our income stats that continue to show we have near lowest incomes in Canada (see the stats in the news video posted above by SethM). Perhaps the previously posted Globe & Mail story about the Mainland Chinese "investors" coming here on "real estate tours" tells it all: recall the tour leader stating that a $30 lunch bill and motel room can only be afforded by the "rich" in China. Do you want me to re-post that? On second thought, you can search other threads/posts for the article if you like.

http://www.central1.com/publications/ec ... urrent.pdf
 
tdma800
Real Estate Talker
Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am
Contact:

Re: B.C. In-migration Turns Negative

Tue Oct 04, 2011 6:57 am

I guess this is the (albeit far less significant) other side of the coin.

Asian in (45,000/year)
everyone else out (4,000/year).

Vanpro, try getting the federal government to change immigration rules. And, try convincing the prov gov't
that asian investment isn't prudent. Do you honestly think that this current prov gov't would do anything to stop
the flow of money coming in from asia? Yes, this means immigration

http://www.theprovince.com/business/Cla ... drop_story
I formally and hereby swear, +1
 
User avatar
SethM
Real Estate Talker
Topic Author
Posts: 1014
Joined: Thu May 27, 2010 3:32 pm
Contact:

Re: B.C. In-migration Turns Negative

Tue Oct 04, 2011 7:26 am

I guess this is the (albeit far less significant) other side of the coin.

Asian in (45,000/year)
everyone else out (4,000/year).

Vanpro, try getting the federal government to change immigration rules. And, try convincing the prov gov't
that asian investment isn't prudent. Do you honestly think that this current prov gov't would do anything to stop
the flow of money coming in from asia? Yes, this means immigration

http://www.theprovince.com/business/Cla ... drop_story
I heard immigration from Asia is down because the Government is approving less applications. It is obvious these immigrants get their papers and buy a house here for insurance purposes and then head back to Asia to do business and earn income. They don't pay taxes here, but put stain on our medical and education system because they leave their wife and kids here and come back for medical appointments.

The investment and job creation from this kind of immigration is minimal and it just jacks up our real estate prices because they buy multiple homes and condos, pricing out the locals and worker bees.

If companies can't hire labour what do they do if they can't raise wages. Also, with people leaving B.C., companies will be losing customers, so the price of their goods or services could be falling while labour costs are rising. Companies don't last long in situations like this. They go out of business or move. Where is B.C. without an economy?

Listen to the recruiter at 1:50.

Listen to counselor Geoff Meggs at 2:00.

Did you even watch the video? Do you think this is good news?

I wonder if class sizes are decreasing now? I guess we can start laying off teachers then and save some money.
 
User avatar
jesse1
Real Estate Talker
Posts: 5097
Joined: Mon Feb 18, 2008 12:51 pm
Contact:

Re: B.C. In-migration Turns Negative

Tue Oct 04, 2011 7:39 am

Do you think this is good news?
Actually, yes I do. People need to vote with their feet.

On a personal level it sounds like these families are extremely positive, with the ability to leave and find work elsewhere. Not everyone is so lucky, for various reasons.
 
eyesthebye
Real Estate Talker
Posts: 5863
Joined: Tue Jan 06, 2009 2:53 pm
Contact:

Re: B.C. In-migration Turns Negative

Tue Oct 04, 2011 7:44 am

"vanpro"
Latest stats I posted link to in other thread (re-posted below) disproves this myth of yours....Total population stats show that international immigration has plunged to near 10 year low and,
this is for a 3 month period - and from 12,000 to 9,000!
I hope you're not pinning your future on that trend continuing/
the cure for higher prices is moving to a destination with lower prices
 
vanpro
Real Estate Talker
Posts: 1863
Joined: Fri Sep 04, 2009 12:32 pm
Contact:

Re: B.C. In-migration Turns Negative

Tue Oct 04, 2011 7:46 am

"vanpro"
Latest stats I posted link to in other thread (re-posted below) disproves this myth of yours....Total population stats show that international immigration has plunged to near 10 year low and,
this is for a 3 month period - and from 12,000 to 9,000!
I hope you're not pinning your future on that trend continuing/
Nope, but hope you (and others) are not pinning yours on ever increasing house prices from already crazy levels....
 
tdma800
Real Estate Talker
Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am
Contact:

Re: B.C. In-migration Turns Negative

Tue Oct 04, 2011 7:47 am

If companies can't hire labour what do they do if they can't raise wages. Also, with people leaving B.C., companies will be losing customers, so the price of their goods or services could be falling while labour costs are rising. Companies don't last long in situations like this. They go out of business or move. Where is B.C. without an economy?

I wonder if class sizes are decreasing now? I guess we can start laying off teachers then and save some money.
- need labour? - http://www.welcomebc.ca/wbc/immigration ... d/who.page?

- laying off some teachers would be a great idea . enrollments in vancouver are falling.
 
User avatar
SethM
Real Estate Talker
Topic Author
Posts: 1014
Joined: Thu May 27, 2010 3:32 pm
Contact:

Re: B.C. In-migration Turns Negative

Tue Oct 04, 2011 7:48 am

Do you think this is good news?
Actually, yes I do. People need to vote with their feet.

On a personal level it sounds like these families are extremely positive, with the ability to leave and find work elsewhere. Not everyone is so lucky, for various reasons.
Agent Will voted with his feet. There will be others.
 
User avatar
jesse1
Real Estate Talker
Posts: 5097
Joined: Mon Feb 18, 2008 12:51 pm
Contact:

Re: B.C. In-migration Turns Negative

Tue Oct 04, 2011 8:06 am

Agent Will voted with his feet
I like(d) AgentWill. Great website, thoughtful commentary on housing issues.
 
User avatar
jesse1
Real Estate Talker
Posts: 5097
Joined: Mon Feb 18, 2008 12:51 pm
Contact:

Re: B.C. In-migration Turns Negative

Tue Oct 04, 2011 8:27 am

Oh and SethM, thanks for recording this. Appreciated much. This goes for the dozens of other clips you've grabbed too, bullish and bearish alike.
 
eyesthebye
Real Estate Talker
Posts: 5863
Joined: Tue Jan 06, 2009 2:53 pm
Contact:

Re: B.C. In-migration Turns Negative

Tue Oct 04, 2011 8:31 am

"vanpro"
Latest stats I posted link to in other thread (re-posted below) disproves this myth of yours....Total population stats show that international immigration has plunged to near 10 year low and,
this is for a 3 month period - and from 12,000 to 9,000!
I hope you're not pinning your future on that trend continuing/
Nope, but hope you (and others) are not pinning yours on ever increasing house prices from already crazy levels....
no I'm not, but continued aggressive immigration will make it happen whether you want it or not.
the cure for higher prices is moving to a destination with lower prices
 
vanpro
Real Estate Talker
Posts: 1863
Joined: Fri Sep 04, 2009 12:32 pm
Contact:

Re: B.C. In-migration Turns Negative

Tue Oct 04, 2011 8:49 am

eyes:

Still waiting for the link to the data that proves that international immigrants have far higher incomes and wealth than locals and, if so, why that has not shown up in our income and wealth stats (in the past decade, for example) that actually show we have far lower incomes than in other provinces. Thanks in advance!

Who is online

Users browsing this forum: Bing [Bot] and 2 guests