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http://globalnews.ca/news/2557589/vancouver-home-sells-for-more-than-a-million-dollars-over-asking-price/

As per my post yesterday re the $9mill sale.

We have to remember that all this insane RE activity at the moment: flipping, shadow flipping and mortgage fraud are all signs of a classic bubble. How any one thinks this is sustainable over the medium-term is drinking some serious kool-aid.

http://www.nbcnews.com/business/real-estate/house-flipping-skyrockets-sparks-concern-over-housing-bubble-n530866

Can’t believe that the Caucasians have lost the lower mainland with out a single shot fired.

They have no choice but to keep the housing Ponzi scheme going now. Means millions more immigrants over the next few decades.

This means Vancouver-Richmond-Burnaby will be majority Chinese. Surrey-Langley-Abbotsford will be majority Indian/Philipino.

You guys wait and you will be appalled at the racism your white offspring will experience in the future. Glad my kids will be in the majority.

Your politicians sold you guys out.

Let’s just say everyone here was completely wrong for the last few years. I wish I bought sooner as well, at least would have been able to sell for a huge windfall. This market has defied rationale for years and looks like it’ll continue to do so for gawd knows how long. If interest rates won’t rise you can expect the market to remain high till interest rates go up, which doesn’t look like it’ll happen anytime soon, as all FEDs are still in QE mode event the US hasn’t risen interest rates again.

Like todays CBC World Headline: Massive layoffs coming as China confronts its overbuilt ‘zombie economy’. Thats right folks, China’s economy is built on pure debt…. and thats why there is mad rash to get the money out before it blows up. The suckers are the locals trying to complete with the hot money in RE.

Older home on west side just sold for $9mill. 50 by 120 lot. Not a view home.

At least someone is doing something. Dear Neighbour: Thank you for writing to me about the crisis in Vancouver’s housing market. My office has received an overwhelming amount of correspondence in response to this issue from people all across the province. The sheer volume of letters has meant that I may not have had an opportunity to respond to you personally. But the moving stories we’ve received have convinced me that we need to hold an emergency housing meeting so that we can hear from one another and send out a visual representation of the frustration in our communities across the Lower Mainland, and across the province. As someone who has written, we’re asking for your help to keep the pressure on. We need you to come and show your support to convince the government that this issue is serious,… Read more »

Citizenship revamp: New Canadians no longer have to intend to live in Canada.
In other words, door is open, just launder your dirty money here.

Everytime I visit New-York, I have the same thought: It must be great to be rich here, but it must suck a whole lot to be poor.

For Vancouver, it’s slightly different: It’s quite ok if you’re rich (but let’s be honest, it’s not NY, and it’ll never be NY), but it sucks if you’re middle class now. Being middle class in Van is like being poor anywhere else in the country.

it really didn’t take long for vancouver to change from being a great place to live to a really crappy place to live. I just hope the rest of the country doesn’t follow the same path.

I am banned here but I tell truth. My cousin come and keep buy houses. We no pay tax here. We no work here. We enjoy and buy houses.

That’s all. Why me banned?

Why not charge the Chinese a fee for keeping the houses they buy, empty. This will help the city, help the taxpayers and won’t even do a dent to the money laundry buyers. How about a 10k a year to start. Then every year a 20% increase. Something like the carbon tax…
Second for us, the locals with families who pay inflated property taxes, the government should have a property tax break. Also in our favor the rates should be lower. I don’t mind the rates right now. Helping us pay the mortgage faster.
Third I don’t have anything against immigration. It will help the country in a good way.

Join the discuDear Neighbour: Thank you for writing to me about the crisis in Vancouver’s housing market. My office has received an overwhelming amount of correspondence in response to this issue from people all across the province. The sheer volume of letters has meant that I may not have had an opportunity to respond to you personally. But the moving stories we’ve received have convinced me that we need to hold an emergency housing meeting so that we can hear from one another and send out a visual representation of the frustration in our communities across the Lower Mainland, and across the province. As someone who has written, we’re asking for your help to keep the pressure on. We need you to come and show your support to convince the government that this issue is serious, and that they need… Read more »