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Vancouver homes pricier than London
While, I'm at it I'll post the link here as well:
http://www.vancouversun.com/business...279/story.html Prices are getting out of control. 600k (nearly 400k sterling) median property price. 9.5 x annual median household income. Jesus. |
Re: Vancouver homes pricier than London
It's been like that for a while. Realtors now have to make special trips to china to find the suckers, er investors willing to pay these prices.
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Re: Vancouver homes pricier than London
The report states that the Asian buyers are "responsible" for this hike in prices. The average annual wage in China is not very much. Where are all these home-buyers getting their cash, seriously? They can't all be millionaire investors, surely?
And what is their immigration status in Canada? :sneaky: |
Re: Vancouver homes pricier than London
Originally Posted by ann m
(Post 9372202)
The report states that the Asian buyers are "responsible" for this hike in prices. The average annual wage in China is not very much. Where are all these home-buyers getting their cash, seriously? They can't all be millionaire investors, surely?
And what is their immigration status in Canada? :sneaky: |
Re: Vancouver homes pricier than London
Originally Posted by Alan2005
(Post 9372387)
Most chinese people are dirt poor. However, a very tiny percentage are exceedingly rich, but as the population of china is so large, this tiny percentage still means quite a lot of people.
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Re: Vancouver homes pricier than London
Originally Posted by ann m
(Post 9372202)
The report states that the Asian buyers are "responsible" for this hike in prices. The average annual wage in China is not very much. Where are all these home-buyers getting their cash, seriously? They can't all be millionaire investors, surely?
And what is their immigration status in Canada? :sneaky: |
Re: Vancouver homes pricier than London
Originally Posted by geo4
(Post 9373117)
Oh my.
Legitimate questions from an enquiring mind. |
Re: Vancouver homes pricier than London
Originally Posted by ann m
(Post 9373125)
?
Legitimate questions from an enquiring mind. That probably doesn't include the multitude of corrupt Government officials squirriling their money out of the country. |
Re: Vancouver homes pricier than London
Originally Posted by Almost Canadian
(Post 9372772)
What attracts them to Vancouver?;)
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Re: Vancouver homes pricier than London
Originally Posted by ann m
(Post 9372202)
The report states that the Asian buyers are "responsible" for this hike in prices. The average annual wage in China is not very much. Where are all these home-buyers getting their cash, seriously? They can't all be millionaire investors, surely?
And what is their immigration status in Canada? :sneaky:
Originally Posted by Almost Canadian
(Post 9372772)
What attracts them to Vancouver?;)
- Nearly everything is made in China, huge boom in economy, property market etc. Also very corrupt. There is a reason why so many want to get their money out of China. - Canada is seen as a safe destination to keep (and yes launder) money. Good schools, clean, safe etc. Less competition for the kids. China can't touch you here. - Easy immigration compared to USA. No questions asked once the bank statement is shown. - Massive asian population in Vancouver, links to Asia etc. Certainly, Canada and in particular, Vancouver has been very successful in attracting high wealth asians. But I can't help thinking there is a lack of long-term thinking for a fast buck. Who knows what problems, social etc are being stored up for the future?? Vancouver now is really an asian city. |
Re: Vancouver homes pricier than London
Originally Posted by Alan2005
(Post 9373208)
It's a world class city don't you know.
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Re: Vancouver homes pricier than London
Originally Posted by brizzle
(Post 9373214)
IMO: the following are all factors:
- Nearly everything is made in China, huge boom in economy, property market etc. Also very corrupt. There is a reason why so many want to get their money out of China. - Canada is seen as a safe destination to keep (and yes launder) money. Good schools, clean, safe etc. Less competition for the kids. China can't touch you here. - Easy immigration compared to USA. No questions asked once the bank statement is shown. - Massive asian population in Vancouver, links to Asia etc. Certainly, Canada and in particular, Vancouver has been very successful in attracting high wealth asians. But I can't help thinking there is a lack of long-term thinking for a fast buck. Who knows what problems, social etc are being stored up for the future?? Vancouver now is really an asian city. Vancouver has always been 'Chinese'... Early explorers, gold miners, immigrants, etc from China have been on the west coast since before Vancouver was really Vancouver. There are a lot of ties between the west coast and China (and SE Asia, in general) that go way back. Yeah sure some dubious people can get in but it's not like 'corrupt rich people' is a new concept to Canada. Our PM is a shining example. ;) |
Re: Vancouver homes pricier than London
My old condo has just come on the market:
http://www.realtor.ca/propertyDetail...Key=1596036707 Nice location, but small place and crazy price. I think I paid $229K in 2001 and certainly didn't sell for anything near the current price in 2004. Should have held on to the bloody thing of course.... |
Re: Vancouver homes pricier than London
Originally Posted by Almost Canadian
(Post 9372772)
What attracts them to Vancouver?;)
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Re: Vancouver homes pricier than London
Originally Posted by lmartin999
(Post 9373484)
My old condo has just come on the market:
http://www.realtor.ca/propertyDetail...Key=1596036707 Nice location, but small place and crazy price. I think I paid $229K in 2001 and certainly didn't sell for anything near the current price in 2004. Should have held on to the bloody thing of course.... |
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