Why lower home prices are a national priority

Vancouver housing prices risk mortgage default: report
B.C. financial regulator warns credit unions about possibility of default on residential mortgages
http://www.cbc.ca/news/canada/british-columbia/vancouver-housing-prices-risk-mortgage-default-report-1.2991252

Real-estate exec on Chinese money: 'There is a huge stake for a lot of local people in keeping this thing going'

http://ca.wiley.com/WileyCDA/WileyTitle/productCd-1405192917.html

Real-estate exec on Chinese money: 'There is a huge stake for a lot of local people in keeping this thing going'

The province article didn't touch on whether the money being invested was legal or not.

Chinese police run secret operations in B.C. to hunt allegedly corrupt officials and laundered money
http://news.nationalpost.com/2015/03/05/chinese-police-run-secret-operations-in-b-c-to-hunt-allegedly-corrupt-officials-and-laundered-money/

The province article didn't touch on whether the money being invested was legal or not.

Chinese police run secret operations in B.C. to hunt allegedly corrupt officials and laundered money
http://news.nationalpost.com/2015/03/05/chinese-police-run-secret-operations-in-b-c-to-hunt-allegedly-corrupt-officials-and-laundered-money/

Well, my post wasn't a response to yours. You know, stand alone like, eh?

But illegal or not the money's making an impact one way or another.

Ian Young on Tsur Somerville and the rest of the local Real Estate gang.

http://www.scmp.com/comment/blogs/article/1735460/vocal-academic-isnt-just-observer-vancouvers-real-estate-industry-hes

Amazing to have a real journalist in this city.

This is not the first article from Mr. Young. The rest of his work is well worth a read.

hundreds of billions has come in

it gets transferred thru the banking system, the bank can see who did what by running a report, so they send the customer a letter stating they have broken rules and so they can no longer do business with the bank and the check but the money is already here and the bank actualy loses money by having to deal with the situ

Ian Young on Tsur Somerville and the rest of the local Real Estate gang.

http://www.scmp.com/comment/blogs/article/1735460/vocal-academic-isnt-just-observer-vancouvers-real-estate-industry-hes

Amazing to have a real journalist in this city.

This is not the first article from Mr. Young. The rest of his work is well worth a read.

Wow, great read.

Wow, great read.

no shit eh?

it's stating the obvious to the oblivious.

edit

check out this article that was linked to in the one listed above:

http://www.scmp.com/comment/blogs/article/1440792/immigration-property-prices-and-vancouver-experts-view

"Ley’s previous research revealed the exceptional correlation between international immigration to Vancouver and the city’s property prices. He charted this from 1977 to 2002, with the results presented in eye-popping clarity on page 153 of Millionaire Migrants. A graph (above) of the two factors shows them moving in near lockstep.

Ley calculated the correlation at +0.94; that’s about as close to a statistical sure thing as you can get.

By contrast, “made in Canada variables” – interest rates, employment, domestic Canadian migration and rental vacancy rates – proved rather hopeless as price predictors. Interest rates, routinely touted as the most significant factor in Vancouver’s property boom, had a negative correlation, of -0.12."

Better buy soon!

Avg. home to go over $2M
http://www.castanet.net/news/BC/136033/Avg-home-to-go-over-2M

Vancouver house sells for $567K over listed price
http://www.cbc.ca/news/canada/british-columbia/vancouver-house-sells-for-567k-over-listed-price-1.3012604?123

I guess 3 different groups really wanted this house.

Edit: I see that Duncan already posted it to the other real estate thread going right now.

Tulips anyone?

"Housing in Metro Vancouver is B.C.’s biggest industry
Worth more than GDP of resource industries combined"

https://www.biv.com/article/2015/12/housing-metro-vancouver-bcs-biggest-industry/

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Ref:
https://en.wikipedia.org/wiki/Tulip_mania

If you own SFD in Greater Vancouver, watch your assessment this year!

Up 13% on average for Lynn Valley.

http://www.cbc.ca/news/canada/british-columbia/vancouver-property-assessments-increase-1.3357024

Everyone has been telling me "Get in while you're young". Get into what?

-Small, Old, Dilapidated, undesirable area, near work
-Average, Newer, OK shape, rural, 1.5 hour commute
-1 bed condo, no view, OK area, near work

I'll keep renting and putting money way for something thats worth getting up for. A bigger down payment will save me hundreds of thousands in interest and years of payments. It won't take much either.

We are one of the lucky ones to get an advanced assessment notice this week. Our assessment went up by 300,000. :stupid: We will be able to handle the increased taxes. I have no idea how some of the retired people on our street with fixed incomes will be able to cope.