The crash? It’s in BC Immigration.

The number of BC immigrants is down 66% in the first half of this year and has crashed to a 15 year low.

From Business in Vancouver:

As a panel discussion on foreign home ownership prepares to convene next week in Vancouver, the latest statistics show that international immigration to British Columbia has crashed to 15-year lows.

The first half of 2015 has seen a net increase of less than 6,000 immigrants into B.C., compared with more than 18,000 in the same period last year.

This was the first time in more than 15 years, BC Stats said, that B.C. experienced a net loss of non-permanent residents.

If the current trend continues, immigration to B.C. will fall below the annual inflow that forms a key foundation of housing demand forecasts.

The dramatic decline began in the fourth quarter of 2014 when net immigration fell to negative 1,808 people – meaning that many more people left B.C. for other countries than arrived. This was the first net loss of immigrants to the province in more than a decade.

Read the full article here.

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Oracle
Guest
Oracle

I like it.

Let’s deceive the public that provincial PNP programs loophole proof. Haha. Manitoba immigrants come here after getting approved for their program. Blood relative program.

And you probably believe that the Quebec investor program people stay in Quebec. Lol

Bull! Bull! Bull!
Guest
Bull! Bull! Bull!

i also believe official income stats.

patriotz
Member

@1: “Manitoba immigrants come here after getting approved for their program. ”

Immigrants who land in other provinces and then move to BC get counted as domestic migrants.

Which we’re not getting.

space889
Guest
space889

Wouldn’t those Quebec immigrants, or Manibota ones apply for BC Care Card when they come to BC? So in theory, that would be an indirect way to double check the immigration figures?

Also, I’m guessing this net immigration wouldn’t include foreign students, TFWs, and the like?

Either way, even if immigration dries up to 0 and housing prices keep climbing, it will still be the nasty Chinese locusts from mainland fault right?

paulb
Member

New
243
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TI:11313

http://www.paulboenisch.com

Vanco
Guest
Vanco
@ vangirl I am going to reply in this thread, so the angry bears can vote me down faster. People don’t like messages that’s different from theirs. You are right that you won’t get a 50% raise in a condo over the last few years (I won’t go into the scenario where you put 20% down and bought a SFH). Let’s be honest here, the bears here don’t want a condo, its the SFH in Vancouver they are lusting after. If people wanted a condo, they could have done exactly what the bears suggested (rent, invest the difference) and came out ahead. There was no price increase in Coquitlam/RMD condos, maybe a bit in Vancouver. Alas, SFH is a different beast. Like you pointed out, real estates is local and type specific. Let’s run a couple of scenarios for the… Read more »
JR
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JR

@Vanco. This view is brought to you by Helmut Pastrik, the chief economist for BC’s greatest vested interest in keeping the bubble inflated. Another pea in the local yokel pod with Cameron Muir, Tsur Sommerville et al.

would-be buyer
Guest
would-be buyer

@6- All I got from Helmut’s opinion piece is that it’s different here. It’s never different.

Shut It Down Already
Guest
Shut It Down Already

7, you’d accept such a source if they were singing your tune. It was the real estate industry that started all the “rich foreigner” stories.

Hypocrites?

Oracle
Guest
Oracle

For fuck sakes Patriotz…why the lies?

Arrivals from China, India, Philippines, coming via Manitoba’s PNP immigration program land at YVR!! Most don’t go on to Manitoba. The sponsor had to live in Manitoba but as soon as the immigrant sets foot in YVR. That’s it Game over.

doc
Guest
doc

@Vanco thank you for sharing the report. Unlike most bears there is some appreciation for a different opinion from what bears continue to believe.

Bears wake up, you are being left behind and you are not getting the message. There’s one thing you can bank on literally,the .gov ability to depreciate the currency over the long term.

Thus a fixed priced real estate purchase with the variable being interest rates, is really the best way to mitigate the devaluation of the currency over the long term –

doc
Guest
doc

buy land though !!

patriotz
Member

Take a look at what Manitoba itself has to say about immigration:

https://www.gov.mb.ca/labour/immigration/pdf/manitoba_immigration_facts_report_2013.pdf

Even if you think they don’t have a clue about where their immigrants are going, there just aren’t enough of them compared to above-board immigration to BC (e.g. Metro Vancouver) to make any difference.

History
Guest
History

http://cbc.ca/m/news/canada/montreal/montreal-protest-civil-servants-public-sector-1.3255687

Back East the snivelers setting themselves up for mass layoffs. If they strike, attrition will be substantial. Good! 90% are bullshit jobs anyway!

southseacompany
Member
southseacompany
“Mortgage hike of $500 would tip 16% of homeowners into default: poll”, Global news http://globalnews.ca/news/2261010/mortgage-hike-of-500-would-tip-16-of-homeowners-into-default-poll/ “Nearly one in six Canadians would not be able to handle a $500 increase in their monthly mortgage payments, a new survey from the Bank of Montreal suggests.” “According to the bank, 16 per cent of respondents said they would not be able to afford such an increase, while more than a quarter, or roughly 27 per cent, would need to review their budget.” “Another 26 per cent said they would be concerned, but could probably handle it.” “Such an increase would be generated in the case of a three percentage point hike in interest rates — from 2.75 per cent to 5.75 per cent — on a $300,000 mortgage with a 25-year amortization period.” ““It appears that many Canadians have used low interest rates… Read more »
bullwhip29
Guest
bullwhip29

the purge continues…

First Quantum to sell assets, reduce debt by at least $1B
http://www.bnn.ca/News/2015/10/6/First-Quantum-to-sell-assets-reduce-debt-by-at-least-1B.aspx

“The Vancouver-based company has also cut 644 people from its work force, reduced salaries by up to 20 per cent…”

bullwhip29
Guest
bullwhip29

Globe and Mail: Canada trade deficit widens as exports fall most since 2012
http://www.theglobeandmail.com/report-on-business/economy/canada-trade-deficit-widens-as-exports-fall-most-since-2012/article26677431

“The deficit expanded to $2.53-billion from July, Statistics Canada reported Tuesday from Ottawa. None of the 18 economists in a Bloomberg survey predicted the August deficit would be wider than $2-billion. The median forecast was for a $1.2-billion shortfall.”

“The trade report is negative for August GDP but it’s one month of data, said Krishen Rangasamy, senior economist at National Bank Financial…”

>>>so we are to take monthly economic data at face only if it’s bullish. alrightly then…

RFM
Guest
RFM
The number of buyers paying cash for U.S. homes since the start of 2014 through May has increased to one-third of all sales, up from 20 percent in 2005, said RealtyTrac, a provider of real estate data and analytics, on Tuesday. The biggest increase of foreign buyers by language group were Chinese speakers, whose all-cash purchases rose to 46 percent over the 17-month period, compared to 14 percent in 2005, RealtyTrac said after examining 10 million home sales. The increase in cash purchases reflects tighter lending standards in addition to an increase of foreign buyers and private equity investment in the U.S. housing market, said Daren Blomquist, a RealtyTrac vice president. In 2006, cash purchases nationwide accounted for about 19 percent of transactions, he said. Foreign cash buyers have helped to accelerate U.S. home price appreciation in recent years, he… Read more »
bullwhip29
Guest
bullwhip29

Globe and Mail: The three valid reasons to raid your RRSP
http://www.theglobeandmail.com/globe-investor/here-are-three-valid-reasons-to-raid-your-rrsp/article26650572

“A Bank of Nova Scotia poll published this year found that four of every 10 Canadians draw down their RRSPs long before their careers come to a close.”

“…16 per cent, for example, took advantage of the first-time home buyer tax credit – but others dipped in to cover vacations and day-to-day expenses.”

bullwhip29
Guest
bullwhip29

looks like it’s gonna be a tough year for the canucks and the aquilinis

not a single section in the lower bowl is sold out with multi-game seating in >50% of sections in upper bowl still available
http://canucks.io-media.com/

and speaking of all those so called diehard local sports fans…where did all the lions fans go?

bullwhip29
Guest
bullwhip29

Private school enrolment growing in B.C.: Fraser Institute study
http://www.vancouversun.com/news/private+school+enrolment+growing+fraser+institute+study/11417100/story.html

>>>gee patti, growing up in point grey you’d think this wouldn’t be that hard to figure out… http://tinyurl.com/oa4sz9c

Bull! Bull! Bull!
Guest
Bull! Bull! Bull!

Diplomatic connection to deadly kidnapping in North Vancouver

The Chinese consulate in Vancouver confirmed officials are cooperating with the RCMP investigation into the alleged kidnaping for ransom of Peng Sun, whose body was found with four suspects early Tuesday morning.

http://bc.ctvnews.ca/diplomatic-connection-to-deadly-kidnapping-in-north-vancouver-1.2592778

Bull! Bull! Bull!
Guest
Bull! Bull! Bull!

vancouver is a chinese satellite city. we told you this was coming, but all of you just stuck your heads in the sand for a decade.

Shut It Down Already
Guest
Shut It Down Already

“Chinese-speakers accounted for 1.66 percent of home purchases, up from 1.52 percent a decade ago… The language determination was based on the first and last name on property deeds”

Ahahahaha hahahahaha!!!

S.Bby
Guest
S.Bby

Thee is an expensive BMW parked across the street from me that has been there and unmoved for two weeks now. It has Manitoba plates on it. Coincidence? I think not…

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