OSFI: How many foreign buyers?

The OSFI is going to try to figure out just how much foreign investment is going into Canadian real estate markets these days.

Canada’s top banking regulator is on a fact-finding mission to gauge the scope of foreign investment in residential real estate.

Industry sources say the Office of the Superintendent of Financial Institutions is sizing up the market, most likely as part of its active campaign to “stress-test” the country’s big banks to measure how they would be affected by volatility in various market segments.

OSFI is taking a broad look at bank exposure to household debt and how the financial institutions are monitoring loan portfolios amid growing concerns over the ability of Canadians to handle their debt load.
In the case of the housing market, sources point to global trends that could affect investment in Canada — such as China’s recent policies to curb speculative real estate investment in that country — as evidence that Canada is operating in a fast-changing market that could be adversely affected by decisions made in other countries.

They suggest OSFI wants to know how big a factor foreign investment in Canada’s housing market is, and how big it is likely to become, so the regulator can measure the potential impact on banks if demand were to dry up.

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Patiently Waiting

The media are trying to bury this: Vancouver's vacancy rate has increased from 2.2% to 2.8% in the last year. Kelowna's has gone from 3.7% to 6.6%. Abbotsford held steady at 6.6%

Every other major city in Canada is experiencing declining vacancy rates.


AG Sage


>Question to the Vancouverites who lived here during the 1994-95 bubble. Does all of these conversation about foreign buyers, driving up the prices ring a bell?

I was house shopping in a different city at the time, but I remember hearing stories about HK wives dropping into Vancouver, buying up 8 houses at a go, then flying home, a massive money offshoring scheme in preparation for the British handover of HK.


@Anonymous: Question to the Vancouverites who lived here during the 1994-95 bubble. Does all of these conversation about foreign buyers, driving up the prices ring a bell? Actually, no, I was a homeowner at the time so I really wasn't paying attention to the market, but I don't recall it as a big topic of conversation. Nor do I recall the media saying much about it. Perhaps because we had an NDP government at the time and big business and the media were constantly telling us that they were driving away investment, so talking about a RE boom would have muddled that message. Someone who was looking to buy may remember differently of course. I do remember a lot in the media about foreign buyers during the 1979-81 bubble, including a staged news "report" on BCTV (now Global) which featured… Read more »

Ravishing Rick

Cut the music…

I have an ipad and the lack of flash playing ability really sucks!

Do not get one, it sucks! Get a motorola xoom


Global News;


Pretty dangerous attitude to have, even if it is all hype. The specific callous comments about leaving Van don't really create more buyers; doesn't really make any marketing sense, unnecessary. Seems like some sort of personal attack on those that have complained, criticized, or threatened him. Sounds a little sociopathic.

Romeo Jordan


watch the video McLosin – try and stay sober and focused throughout – OK – remember, I care about you – you are not alone in this world.


Romeo Jordan


Folks, you have GOT to write your MLA, Jim Flaherty, Jason Kenney and the OFSI about this absolute bull shit. WE and our kids are being priced out of our own cities. Here are some links:

jim@jimflahertymp.ca , flaherty.j@parl.gc.ca



Economist says housing prices to fall 25%



Question to the Vancouverites who lived here during the 1994-95 bubble. Does all of these conversation about foreign buyers, driving up the prices ring a bell? #flashback

Romeo Jordan

McLosin – read the report in the globe and mail tonight talking about the implosion in vacation property market/prices. One prominent development is selling at 50% of its peak prices (that mean's its gone down, sunshine).

Smell the coffee.

ps. to the loser who inquired – I sold my property, took a net 7% loss – and glad I did. Yes, it was a mistake to buy.

As for girlfriends – you couldn't even handle my crumbs.


Romeo Jordan



why would mclovin need be saved? from you? have you sold you shoe box yet? i am here to save you and your newly girlfriend.

YLTN @ Work

Me thinks "The Key" needs to get hacked; I bet publishing the names of all his clients and their personal info might hurt his business…I smell weekend project!

YLTN @ Work

It makes me sick that BIV gave Cam Goode a 40 under 40 award last year, I'm going to boycott that publication now. I really really hope that Cam Goode goes bankrupt on speculation, I really want to see this fucker suffer pain and anguish…check out his blurb: Birthplace: Vancouver Where you live now: West Vancouver Highest level of education: B.Comm. Car or chosen mode of transport: Mercedes ML320 on biodiesel Currently reading: Good to Great Last CD bought or music downloaded: “Vertical Rhythm” Favourite local restaurant: La Taqueria Profession you would most like to try: Filmmaker Mentor: Sid Landolt and Father Moc AKA Johnny Mac AKA Tyre AKA John McIntyre Toughest business or professional decision: To swallow pride and right-size when necessary Advice you would give the younger you: Forget high tech. Get into real estate … NOW What’s… Read more »

Patiently Waiting

@Phil: He had no soul to begin with. Don't worry in a few years, he'll back at his old job in a boiler room, selling "credit card insurance" to Seniors. That's if the Chinese don't finish him off.


What a cocky POS that Good fella is. He just sold his soul.



Couldn't believe my ears when I heard that greedy little shit telling us all to move if we don't like it. Karma is a bitch Good, and it's coming your way in spades.

Romeo Jordan


The press is all over the BMO report highlighting the severe risk to the Vancouver housing market.

I wonder if we will see a mini surge in new listings over the coming month.

Thanks for your stats – you may save McLovin even if I don't, despite my efforts.


Romeo Jordan


@paulb: OMG I accidentally clicked the red arrow. Now karma will take a crap on my head.

lol cats

this blog should have an R rating considering majority of the posts are little more than bear to bear handjobs.


"Hey Van Girl, I loved how he said that if Vancouver residents don’t like it they should move. I hope that comment comes back and bits that piece of shit in the ass!"

I know, what a total asshole.


A surprisingly frank assessment from our friends in the Okanagan. Its almost as if they have accepted 2007 is never coming back and have stopped using excuses like "yard work" to explain the lack of sales (Almost) Serious Sellers Compete for Spring Home Buyers Kelowna, BC – The Central Zone of the Okanagan Mainline Real Estate Board (OMREB) reported May 2011 sales activity of all MLS® property types were down compared to sales reported at this time last year but were up from April as serious sellers begin to compete for home buyers moving into Spring. Overall unit sales during May dipped 17.6% compared to 2010 (to 337 from 409) but rose 13.87% over the previous month (297 in April 2011). Sales volumes totaled $133.4 million compared to $168.1 million in May 2010. Total residential units sold last month were… Read more »

Best place on meth


We're supposed to move so that cocksucker Cam Good can replace us all with dirty money Chinese?

No wonder that piece of shit gets tons of hate mail.


New Listings 390

Price Changes 114

Sold Listings 193

Big day!


Hey Van Girl, I loved how he said that if Vancouver residents don't like it they should move. I hope that comment comes back and bits that piece of shit in the ass!