Bloomberg on Chinese buyers in Vancouver

Breaking news from February just released!

Realtors say Chinese buyers drive the Vancouver market.

“I hope the government can do something to control the price” so younger generations can buy, said Huang, who paid almost C$1 million for a condo in the Westside’s Kitsilano neighborhood two months ago so her daughter, now aged 6, could attend school nearby. She couldn’t afford a house and prefers apartment living because she doesn’t like yard maintenance. She also likes the views from her sixth-floor condo.

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Li Kai Shing
Guest
Li Kai Shing

First !!!!

I own bloomberg

Romeo Jordan
Guest
Romeo Jordan

Don't worry chumps, its coming.

A McLosin and his money are soon parted.

Remember these lessons. Pass them on to your children, if you love them.

xoxox

Romeo Jordan

paulb.
Guest
paulb.

New Listings 248

Price Changes 120

Sold Listings 259

maggie chandler
Guest

it's no longer a secret! most everyone now knows the mainland chinese have found vancouver, bc

Ravishing Rick
Member
Ravishing Rick

Cut the music!

Li kai, you under sexed over mortgaged sweat hog. Dealing with you would be two hits, me hitting you and your wife's undies hitting the floor.

Three hits if you count your real estate portfolio hitting bankruptcy protection… Soon enough sweat hog.

Hit the music!

vancouverites should
Guest
vancouverites should

@Dave: You mean there isn't sustainable demand for fifty $3 million houses per week in a small city with a median family income of under $75K/year???? Say it ain't so.

VHB
Member
VHB

May 2011 month-end projections

Days elapsed so far 12

Days missing 1

Days remaining 8

5 Day Moving Average: Sales 172

5 Day Moving Average: Listings 250

SALES

Sales so far 2042

Projection for rest of month (using 5day MA) 1548

Projected month end total 3590 +/- 350

NEW LISTINGS

Listings so far 3487

Projection for rest of month (using 5day MA) 2250

Projected month end total 5737 +/- 325

Sell-list so far 58.6%

Projected month-end sell-list 62.6%

Eddie
Guest
Eddie

Interesting numbers… YVR is still rolling, the rest of the province has hit a wall.

Devore
Member
Devore

@Anonymous: It's probably nothing.

McLovin
Guest
McLovin

RJ are you still here?

I thought you were cruising for girls on Robson in your played out Porsche.

Dave
Member

@vancouverites should consider opening their eyes:

Of course not. I'm not officially a bear yet, but I suspect that I will be once I have a chance to see the latest affordability numbers.

Li Kai Shing
Guest
Li Kai Shing

@Ravishing Rick:

You are love child of drunken weekend.

I can't go broke,I own most of the world, rest is what I won on poker game at RiverRock

Vancouver is chump change west van hillbilly….go back to basement and lick toilet.

observer
Guest
observer

Global Slowdown to Hit by Summer, Even for U.S., Says Achuthan

http://finance.yahoo.com/blogs/daily-ticker/globa

Gypsy
Guest
Gypsy

New Listings 248

Price Changes 120

Sold Listings 259

Hey Best Place on Meth,

Look at the death of the market! Sales have dried up since March 18th!

F`ing retard

bubbly
Member
bubbly

@observer: If the slowdown happens, it may be used as an excuse for QE 3.

Anonymous
Guest
Anonymous
April MOI (Months of Inventory) calculations from BC’s 12 sales regions. Sales and listings data courtesy of BCREA’s website. MOI calculations courtesy of Moi. Note the % change from the previous month. BC Northern Inventory: 2696 Sales: 318 MOI: 8.5 (+16%) Chilliwack Inventory: 1757 Sales: 187 MOI: 9.4 (+10%) Fraser Valley Inventory: 8064 Sales: 1414 MOI: 5.7 (+28%) Greater Vancouver Inventory: 15239 Sales: 3270 MOI: 4.7 (+36%) Kamloops Inventory: 2083 Sales: 157 MOI: 13.3 (+33%) Kootenay Inventory: 2864 Sales: 155 MOI: 18.5 (-4%) Okanagan Mainline Inventory: 6318 Sales: 395 MOI: 16.0 (+26%) Powell River Inventory: 235 Sales: 26 MOI: 9.0 (+10%) South Okanagan Inventory: 1981 Sales: 114 MOI: 17.4 (-7%) Northern Lights Inventory: 277 Sales: 26 MOI: 10.7 (+123%) Vancouver Island Inventory: 6206 Sales: 585 MOI: 10.6 (+17%) Victoria Inventory: 3709 Sales: 540 MOI: 6.9 (+27%) Provincial Totals Inventory: 51268… Read more »
JR
Guest
JR

@Anonymous: Looks like reality is coming soon to a neighborhood nearer to you, Vancouver.

JR
Guest
JR

@paulb.: On the other hand…..

lol cats
Guest
lol cats

nice objective article

Dave
Member

@paulb.:

Wow. This market keeps surpassing even my predictions. At this point, I am actually starting to turn bearish. You guys could use me on your team.

CanuckDownUnder
Member
CanuckDownUnder

Things are starting to get desperate in Australia as sellers have had to reduce asking prices by 6.5%. Unfortunately real estate professionals don't seem to understand what a market is:

"the current situation presents an opportunity for prospective buyers to purchase at below market prices, according to RP Data and some of the State’s leading property players."

"those who take the plunge are in a great position whether they’re looking for land, units or houses: it’s a buyers’ market.”

http://www.perthnow.com.au/business/buyers-market

Falling knife anyone?

jesse
Member

@CanuckDownUnder: "Falling knife anyone?"

Call that a knife? Vancouver has a… spoon. (Hangs head in shame)

Don Lapre
Member
Don Lapre

@ jesse:

I see you've played knifey-spoony before!!!!

Emigrant
Guest
Emigrant

This decade nothing like the last…i'm convinced.

http://www.theeconomicanalyst.com/content/revisit

patriotz
Member
Active Member

@CanuckDownUnder:

RE speak:

"below market" – below asking price

"buyers' market" – most sellers are asking above market

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